Bonacorso Insurance Agency, Burlington, MA

Bonacorso Insurance company was created by John Bonacorso and Brittany Martel, in Burlington Massachusetts. Presently, that location offers their only office, but another office building is being built in Middleton, Massachusetts, and it will be open soon. The company was originally established in 1956, and it served as a local insurance agency, but recently it has expanded to some degree, and offers various insurance portfolios in the private and business sectors.The company is a basic small insurance company, that is trying to acquire as many clients as possible, and to facilitate that action, the company offers discounts to new clients, and campaigns to provide people who could potentially save with Bonacorso Insurance with free quotes, and the advantages of the company, compared with those of competitors. Bonacorso Insurance offers a number of basic policies and packages, and gladly provides quotes for potential clients.The have life insurance policies, homeowner policies, health coverage policies, automobile insurance policies, policies for boat-owners, and for motorcycle owners. Life insurance premiums vary based on the specific conditions of given clients, but the policies usually cost between $500 and $1,500 per month. Depending on the size, condition, and overall value of a home, homeowner’s policies also vary greatly. For more conventional homes, policies start at $500 per month, and range up to, for the more expensive homes, a rate of $250,000 monthly.Basic health insurance policies for those who qualify cost $360 a month. Automobile insurance policies range from $550 to $6000 dollars monthly, depending on the quality and condition of the vehicle. Boat insurance is comparable in premium price to homeowner’s insurance, as its premiums range from $350 a month to $250,000 per month, based on the specifications of the boat. Motorcycle insurance is also offered by Bonacorso Insurance, and premiums for this type of insurance range from $225 t o $350 monthly, depending on the quality of the motorcycle.That is how every successful insurance agency operates, as rates are different for every client depending on their histories, and certain specifications of what is to be covered. For more conventional cars, boats, motorcycles, and houses, rates may be lower, as not as much is at risk. But for expensive items, rates are generally higher, as are the deductibles, because the company will have to make a much larger payout if coverage proves to be needed. All of these policies also take into account the specific cases of each client who is covered by Bonacorso Insurance.Rates may be slightly higher for clients who have bad histories, and lower for those who have shown their responsibility. For instance, drivers whose records are free of accidents of their own fault save on automobile insurance, as they present less of a monetary risk to the company. But drivers who have been involved in a number of accidents will generally have h igher premiums because the insurance agency feels that they are more likely to be involved in accidents, which the insurance company will pay for on their behalf.And in trying to recruit new clients, Bonacorso Insurance has people who are hired to give people free quotes, hoping that that will encourage them to realize that they could be saving if they switched to Bonacorso. People who work for the agency seek potential clients, and show them their rates, compared to the rates of their competitors, or the national average of a premium for similar clients. Often, when new clients apply for policies with Bonacorso Insurance, discounts are offered to encourage the clients to remain with the agency, because it will save them money.The insurance agency also offers benefits to clients who remain accident free after joining the agency, which may show in a decreasing of premium rates for improving drivers. Automobile insurance is one of the company’s biggest fields, so a lot of the c lient benefits and rewards are offered in that field. Monthly get-togethers, or parties, are hosted by the company, which invites clients to attend the festivities, giving clients a homely, local feel about their insurance provider.Mugs, T-shirts, and other apparel and novelty items are given to clients as well. Businesses are also recruited by Bonacorso Insurance company, and certain benefits are offered to particular businesses. Portfolios for businesses that offer coverage in a number of areas are provided for professional clients, which gives many businesses incentive to join the agency. And much like other insurance companies that work with businesses, certain services may be exchanged between a business and Bonacorso Insurance agency.For instance, if a business agrees to speak out in favor of the agency, or host certain agency events, which shows the business’ satisfaction with the agency, potentially encouraging other businesses to compare rates and perhaps switch to B onacorso, rates and portfolios may be less costly for the business. The agency has been growing in popularity lately, and has expanded from just a small, local boat and automobile coverage agency to one that offers all of the amenities of a larger, more established firm.In 1983, John Bonacorso took the company down a new road, which opened the company to the market of home insurance policies, health insurance policies, life insurance policies, and motorcycle insurance policies. One of the major benefits of the company is that premiums are cut for improving clients. Clients who had histories of accidents at home or in their vehicles would generally have higher premiums initially, but like some of the larger insurance agencies such as State Farm and Progressive are doing, rates may decrease for a client if his or her record improves, as that shows that he or she presents less risk to the agency.Bonacorso Insurance only sustains itself by its number of clients. For any insurance agency to succeed, the number of clients has to be somewhat established, and it cannot sharply decrease. For example, if there were only three clients that an agency had acquired, who were paying an average of $500 a month for their automobile insurance, it would potentially ruin the agency if one of the cars was to be totaled, causing many thousands of dollars in damages.But one in three cars being totaled in a short period is very bad odds for the insurance agency, and if one thousand in three thousand clients totaled their vehicles, it would have the same devastating effects on the insurance agency as if one in three was totaled. But the risk is much higher when the number of clients is low, because with a large number of clients, the firm acquires a level of stability, as the premiums of everyone else would be used to cover the accidents of the few.So Bonacorso Insurance makes it clear that they are always looking for clients, and they tell potential clients how they operate, which is done by stabilizing themselves with a large number of clientele. As with most insurance companies, Bonacorso provides potential clients with rate quotes, that in some cases can be detrimental to the agency, as it demonstrates that, in particular cases, the people shopping for insurance could save more elsewhere. But this is part of the process. No company can offer every client a lower rate than the individual could find with other agencies unless that agency was well on its way to monopolizing the market.So for the most part, Bonacorso Insurance knows that most clients will feel that they could be saving with the agency, as in many cases, rates are lower for potential clients with Bonacorso than with other agencies. So Bonacorso has established enough stability to reveal their quotes, compared with their competitors quotes for particular people (which at times could be slightly lower) because for the most part, Bonacorso Insurance agency offers more to the clients. Another thing t hat the agency has going for it is its local status.The company fits into the community of the Burlington, Massachusetts area, and that makes people feel safe and satisfied as they are insured by people whom they know. This is really shown by the get-togethers and parties that the agency hosts, which it invites its clientele to attend. Trust is thus established by the agency and its clients, which encourages clients to remain with the agency, which, many of them feel, really is helping them. All in all, the company has been a smaller, cordial insurance agency that has a neighborly relationship with its clients.Benefits and cut rates help the agency to secure clientele, and decreasing rates and courteousness on the part of the agency help Bonacorso Insurance maintain its client base. Although it started as a very localized agency that did not offer coverage in all of the fields that it does today, Bonacorso Insurance has grown to some degree, and plans to open a second branch in Midd leton, Massachusetts. But community involvement and its local, neighborly nature should continue to keep the company going at both locations for some time, because clients are satisfied by the way the agency operates.

China One Child Policy Essay

Imagine a world where one can’t just simply go to the supermarket because there is not enough food. A world where pollution is a daily reality, the air too thick to even breath and the water virtually undrinkable. A place you can no longer buy consumer goods because there isn’t enough materials to make them. This could become a reality, but preventing it has always been on the minds of the Chinese government. War and epidemics had struck China for years, but after the founding of the People’s Republic of China, sanitation and medicine improved and prompted rapid population growth. This combined with the movement created by Mao Zedong, China’s previous communist leader, led to rapid population growth that gave China’s monumental population. This monumental mistake took its toll in the food supply when Mao emphasized steel production over farming, food supply slipped behind population growth; by 1962 a massive famine had caused some 30 million deaths. After the population leveled off, the government continued the camping to reduce China’s population. In 1979 the Chinese government introduced a policy requiring couples from China’s ethnic Han majority to have only one child. Depending on where they lived parents can be fined thousand of dollars for having an extra child without a permit and can be forced to abort the child and then be sterilized. With all this in mind I not only believe that the one child policy with some adjustments can be a good solution to the overpopulation and issues related to it but also it is a necessary policy. With changes to the policy will greatly improve China’s people living environment and standards. Without this policy we can face serious issues concerning food supplies, depletion of natural resources at a rapid rate, poverty,spreading of diseases due to lack of proper medical care, overcrowded cities that can lead to heavy pollution, inadequate housing, lower life expectancy and higher death rates, educational facilities may not meet the population requirements,and finally lower employment opportunities that lead to unequal distribution of wealth. All of this could become a reality without the proper population control provided by the policy. Society a highly structured system of human organization for large-scale community living that normally furnishes protection, continuity, security, and a national identity. Some essential things that are required for the flourishment of a society are essentials such as food and water. This are non debatable requirements for cities to rise, survive and thrive. Over population can bring many obstacles and difficulties that could impede us from thriving as a society. Some include heavy pollution that is caused by factories that are needed to meet the demands of the big population. This pollution can be precipitated into the water sources can lead to the spread of diseases such as cholera and typhoids. Although higher population number will produce more food the earth can only support so much. Even with genetically modified (GMC’s) the land can only be used so much before it runs put of nutrients and then become useless. The overuse of the land will lead to soil erosion from trying to meet the food demands of a huge population. Air pollution can cause the spread of diseases such as asthma, COPD, cystic fibrosis, heart disease and even diabetes. This will lead to millions of death and could potentially wipe out entire populations and cause poor living conditions. The lack of proper medical care will be one of many factors also contributing to the decline of living standards and lower living expectancies which means higher death rates. Thomas Malthus wrote theories that predicted living conditions over many centuries. He stated that over population will cause more disadvantages that will outweigh the advantages. Some might said that in his theory he didn’t take into account the advances in technology that is essential to the prosperity of a country. I don’t argue that Malthus may not have taken that into account but it still doesn’t change the fact that earth has a finite carrying capacity. No matter how technology progresses or gets better it will be limited by the resources that we can get. Resources are limited. Technology could provide ways of using this resources more efficiently but no matter what we do it will always lead to the depletion because of higher demand caused by overpopulation. Although technology can solve many of our problems it has a great limitation. That limitation is us. The overcrowding of cities may lead to educational facilities not being able to provide the proper learning environment and fail to teach the population. This will cause high levels kids falling behind and not be able to contribute and move on to high level jobs in science, math or engineering which will slow down the rate of progression in technology, and without it we won’t be able to meet the demands of a large population. Over population can cause lower employment opportunities that will leave many families in poverty. This will cause and uneven distribution of wealth that can cause the crime rate to go higher. Less jobs means the economy would be very limited or there will be a lot of jobs but minimum wage jobs. Families would be forced to sends their children to work so they can help support the family instead of sending them to school. With a smaller population more high level jobs can be given and more money means better standard of living and high life expectancy levels. Wealth can provide many things such as medical care, adequate housing,etc. All of this can be avoided with population control policies such as the one child policy. There is a lot of disadvantages that can cause a disastrous future. So we need to ask ourselves if that will be a life wen want to live in. The answer will always come down to no. The one child policy has harsh effects that are controversial. The forced sterilization and abortion of women is one of the horrid realities that the policy makes possible. But this doesn’t change the fact that the policy is a necessity. I completely agree that this must be change. New regulations can be put into place that are more passive and more widely accepted by the majority. The one child policy is a necessity that helps our society in many ways. The advantages of having this policy far outweigh the disadvantages. It keeps China’s prosperity and encourages great economic wealth and progression. So I urge you to consider all of the points made and see that the one child policy is not only a smart choice but also a great one.

The Elderly and Poor Living in the Community Research Paper

The Elderly and Poor Living in the Community - Research Paper Example The research paper "The Elderly and Poor Living in the Community" talks about the community-based health care problem. This paper shows that the identified vulnerable population was the elderly and poor persons residing in the survey area. This extent of poverty could be seen from shrubs, tall trees and uneven bushes surrounding the wood. The identified agency that the elderly and poor community in Grand Prairie in Texas is Arlington Charities Inc. which offers diverse support services to the population. They have a website through which contact was made and a phone call to the Department of Aging and Disability Services (DADS).Through phone calls to the aging and disability department offered a chance to learn and assess the kind of support they offer to the population under study. Arlington Charities Inc. helps both the young and elderly in various ways. To be specific on the elderly poor population who are also faced with risk of disability, it offers counseling, foodstuff to qualified candidates among other services. Its central mission is to render service to humanity through equal access to resources. It seeks to explore the poor segment of the United States community Grand Prairie in Texas through financial, items and knowledge awareness creation towards improved health and social welfare. Therefore, some of the services this agency offers include adult day care, the assistance of the elderly and poor in personal tasks, housing cleaning, laundry, shopping among others.

Fictitious Statistical Study Research Paper Example | Topics and Well Written Essays - 3750 words

Fictitious Statistical Study - Research Paper Example To answer the key research question, the mean monthly spending was calculated which was found to be $348 per month. This value was used to reject the null hypothesis using t-test. Statement of the problem Kinsley is a small town located in the southern part of Cuba in the province of Nova. According to 2007 census, the town has an estimated population of 700,480 people of all races, cultures, religion, ethnic and socio-economic background. The adults form 59% of the entire population translating to 413,283 individuals. This town is faced by numerous social problems like high crime rate, poor sanitation and health standard, poor housing and drug abuse. Despite, the fact that the area has booming business activities the returns not translated into increased standard of living. Meaning, significant amount of residents earning is spent on activities that do not promote conditions of living. One such activity is consumption of alcoholic beverages. This view is shared by National Anti-Drug Campaign Committee which estimates that 22% of adult population in Kinsley consumes alcohol. This problem is further compounded by the fact that there is no legislation governing sale and consumption of alcoholic products in Cuba. ... This ignored individuals who are below 18 years and are consumers of these products. Considering that this category of consumers constitutes a significant percentage of entire population, an error was introduced into the study. The study assumed a 100% adherence to legal drinking age regulation. However, the situation on the grounds points to slight deviation from this rule. Alcoholism is considered evil by many religious organizations. Many consumers were not willing to admit their alcoholic habits for fear of being rejected or labeled by society. This affected the data collection process because the study assumed that honest answers were to be given to questions asked. As a result, the data recorded may contain errors associated with wrong or non disclosure of information. Given that some of the information sought was quite confidential such as individual income, there is a possibility that the respondent may lied to conceal or elevate their status. However, there were various stra tegies put in place to minimize such errors. One method used was careful design of questionnaire to ensure that answers were found through indirect questions. For instance, the spending on education would reveal ones economic status. Again, there was big attempt to interview those in good state of mind. However, the interviewer had no medical capacity to establish the level of sobriety. Literature review The consumption of alcoholic beverages has been increasing world over. In Scandinavian countries, the rates are quoted to be above 10%. For instance, the rate of alcoholic consumption in Ireland was increasing at 17% in 1995. Globally, it estimated that about one quarter of world population,

Marketing Essay Example | Topics and Well Written Essays - 1000 words - 12

Marketing - Essay Example Marketing is a particularly fundamental function for strategy formulation in a business. It informs a strategy, counsels it, reviews it and provides insights into strategy formulation in an organization. An outstanding marketing department is involved in a continuous cycle of measure-analyze-plan-measure. This cycle is as well a key ingredient of strategic business management function. Therefore, in essence, marketing is a key element of strategic management function. Great marketing can help the company in identifying and addressing improvement strategies to customers in either product differentiation or distribution channels (Kotler et al 2009). For example, forecasting is part of strategic planning, sales and marketing forecasts as always the main tools used in budgeting for the marketing function. In marketing research, the Research and Development personnel are essential for effective results analyses and interpretation. Kotler et al (2009), the chief aim of strategic planning i s promoting the discernment of the company in the minds of the customers and consequently to increase customer relation and profitability of the business. Business strategic planning has to be undertaken to ensure the evaluation of all the options in a given situation. In such considerations, only the marketing function and research and development function are involved in result oriented research for improvement of service to the customer. Marketing Function versus Other Organizational Functions The marketing function of a business is the process that combines the product with pricing, promotion and distribution to reach the respective customers or end users. Marketing is one of the most significant functions of a business since it has a direct impact on sales and profitability of the business as well as customer relation. Because of this importance, the marketing function has a greater interrelation with other business functions like finance, accounting, production, research and d evelopment, technology, procurement and human resource among others. Building a profitable customer relationship in the marketing function requires interaction with the other business functions (Kotler et al 2009). I. Finance and marketing Every marketing plan always includes a primary financial dimension. Key aspects of a marketing planning and control are budgeting and profitability analysis. These issues require high resolution on significant financial issues like the definition of profits (e.g. Returns to equity or returns to investment) and determination on the appropriate controls for such profits (e.g. Taxes or inventory evaluation). All marketing decisions are investment decisions aiming at profitable customer relation hence adequate financial information is significant. Nevertheless, marketing is essential for the finance department since the information generated from marketing is used in financial analysis and forecasting (Kotler et al 2009). For example, the marketing te am in organization utilizes the annual company financial reports and other financial documents to help them with budgeting. This helps to reduce duplication of work in the marketing team for employing financial personnel since the financial personnel are already available in the company. The marketing team is, therefore, able to apply financial performance indicators to their relevant respective market segments to ensure that they always remain relevant to customers. II.

Continental Drift Theory Essay Example | Topics and Well Written Essays - 750 words

Continental Drift Theory - Essay Example In the last part of the 20th century, modern investigations have led to the evidence of sea-floor spreading or the diversion of ocean floor from the mod-ocean ridges. Under geometric continental reconstructions evidence, Wegener proposed that the coastline geography of the continents on either side of the Atlantic Ocean have pattern and can be fitted back together like a jigsaw puzzle. Example of which are the coastlines of western Africa and eastern South America (Rogers, 2008, 93). In addition, Wegener reiterated it is the end of the submerged continental shelf that marks the line of the originally-joined continents and not the coastline-fit misconception. Geological match and continuity of structure evidence explained how there are similar rock types, succession of strata or igneous bodies which have unique characteristics were found on either side of the ocean. This evidence was observed in the similarities of the rock strata and geological structures of the Appalachian and Caled onian mountain belts of eastern USA and northwestern Europe, as well as the Precambrian rocks and geological structures similarity observed between South America and Africa (Rogers, 2008, 95). ... The modern evidence gathered during the latter part of the 20th century which has made the continental drift theory acceptable is the sea-floor spreading evidence. Modern geologists had explained the inaccessible ocean floor in Wegener’s theory and discovered striped patterns of magnetic polarities at both sides of the ocean and on mid-ocean ridges (Frisch, Meschede & Blakey, 2011, 3). Scientists and physicists during Wegener’s time rejected his idea because the forces suggested by Wegener are too weak to explain the drift of the continents. Furthermore, the lack of strong mechanism to drive continents across the ocean basins’ questioned the credibility of the Wegener’s continental drift theory, particularly the use of scientific method. During that time, Americans believed that scientific method is empirical, inductive, modest, holding close to the object of study, and is resistant to the impulse of going further (Oreskes, 2003, 11). Derived from the form er description, Americans believed that Wegener breached the scientific method because of drawing out the theory first before gathering evidence. Scientist of today accepted Wegener’s theory but used plates instead to describe the division and pattern of relative movement between regions of the Earth surface because modern physicists discovered the sea-floor spreading and the tectonic cycle (Frisch, Meschede & Blakey, 2011, 3). In addition, the process of scientific method and theory development are further improved. The scientific method starts with a question of the object/topic under investigation. Hypothesis is identified and initial experiment is done. Observation and measurement of the initial experiment took

Various Assignments Essay Example | Topics and Well Written Essays - 1500 words - 1

Various Assignments - Essay Example Democracy typically requires that election systems result in proportional representation in that multi-party elections with a leader will typically mirror the concerns of the entire electorate (Smith, 2010). The US is split down the middle between two parties with precious few independent candidates interspersed at intervals. The US Presidential election itself often results in â€Å"winner takes all† outcome leaving those who did not elect the President feeling largely unrepresented (Smith, 2010, p. 135). This is the highest office in the US with both procedural and substantive defects. The procedural defects not only follow from the poorly administrative workings of the election process at the polls. The procedural defects also follow from the Electoral College. The Electoral College, informed by the popular vote, elects the President. However, by virtue of Article II, Section 1, Clause 1 of the US Constitution, the Electoral College is not constitutionally obligated to elect a president consistent with the popular vote (US Constitution, Article II, Section 1, Clause 1). Therefore there is always a risk that the College Electorate may go against the popular vote and even if they did, there is no way for the population to know. This may account for the relatively low voter turnout at US Presidential elections as compared to other major government elections in other Western democracies (Smith, 2010). Therefore the US Presidential election process is by far the most flawed in that it does not allow for direct election by the voting public and in essence denies total or full representation. Moreover, the Presidential election campaign system is a long and complex exercise in which candidates engage in campaigns that typically involve â€Å"many twists and turns and seem to hinge on trivial incident and personal foibles† that are essentially meaningless in terms

Eating Challenge Essay Example | Topics and Well Written Essays - 1500 words

Eating Challenge - Essay Example And also with bread, I have also unconsciously picked up bread placed on the table. I also found out that in these instances, people are likely to feel the urge to just give in – cheat on the challenge, in other words. I also learned that for individuals who are not accustomed to eating fruits and vegetables are likely to find the challenge difficult. However, for people who are adept at preparing and cooking vegetables or preparing salads, the challenge can be easier to manage. My first forays into cooking these meals were made with the help of the internet and I was surprised that many delicious meals could also be prepared using fruits and vegetables. It took a while for me to master these preparations and I went through many ruined meals before I finally picked up some useful techniques in cooking these meals. All in all however, I was enlightened by the experience. I found out that I actually had the discipline to engage in a vegetable and fruit diet, and to resist pork and minimize my bread intake. I also enjoyed the experience especially whenever I would weigh myself and see that I really was losing weight and that my ‘sacrifice’ was actually paying off. Losing weight can build confidence in one’s looks and eventually an overall confidence in oneself. It felt good to lose the extra weight and I was proud that my efforts paid off. Finally, I have learned from the experience that with sacrifice and discipline, many things are

Emergency, Exception and New Technologies in International Relations Essay

Emergency, Exception and New Technologies in International Relations - Essay Example In it, malicious actions such as usurping, destroying, altering, disabling, or damaging them occur. These are collectively known as â€Å"cyber attacks.† Lin asserts that cyber conflict has attained a level where it is a humanitarian issue but it is still not fully addressed by existing interventions such as the Geneva Conventions and the UN Charter. This is because these interventions (instruments) are outdated in that cyberspace is a new technology as compared to their establishment time. As such, cyber conflicts are bound to affect organizations, people, groups, and territories in the near future. Again, he asserts that the world is yet to experience a serious form of cyber conflict because no stringent countermeasures exist in preventing such (Lin, 2012). The increasing importance of IT, though very beneficial when applied, has dragged along a detrimental side to it. The fact that IT is universal (global) means that what is taught in one continent is the same thing that will be taught in another. As such, creating or attacking IT systems is possible from any point of the earth; adding up to cyber conflict. Cyber conflict can be caused by two levels of hostilities: technology-based and people-based approaches. Technology-based hostility refers to cyber attack conducted using purely technological tools such as software, programs, or computer hardware. This includes gaining access to restricted systems, interfering with them using a payload, and gaining in one way from doing so. People-based cyber hostility occurs when people are tricked (through scam), bribed, or blackmailed to conduct the attack from inside the target IT systems. Collectively, these forms of cyber attack/ hostility have led to the emergence of new countermeasures or frameworks. These are intended to protect IT systems from both vulnerabilities emerging from both offensive approaches. Lin presents two policies that can be implemented in preventing or minimizing vulnerability; defense

Management and Work Culture Essay Example for Free

Management and Work Culture Essay Instrumental to conduct SWOT analysis, and 3. Plan and build strategy based on the work culture How to develop strategic and operational plans by knowing work culture It is integral part of any individual, and organization. It describes shared value of an organization. It helps anyone to understand how things are done. Here is my cultural preferences: well resourced, ethical, and teamwork centered. Knowing my ideal work culture, I can do better planning and formulate the strategies for an organization. My cultural preferences Necessary resources to do high standard work. Using advantages of available resources, one can do better job of delivering projects with high quality standards. Active promotion of equal rights and justice for all. It will create a culture to grow with the company attitude. Fairness among the employees and employer makes everyone trust each other and the employer. Emphasis on social and environmental responsibility. In this culture, work and life balance here. Social and environmental responsibility culture will help employees more committed to the employer. Because organization is not just focusing on profit itself but also understand human values and help communities around them. Interdependence. Culture of interdependence makes everyone connected, and emphasis the important of collaboration between them. It results toward high level of performance, innovation, and productivity. Friendly and supportive colleagues. Friendliness and supports among colleagues is highly important for employees to challenge themselves, confront each other, and share the knowledge between them. Essential Competencies to Conducting (SWOT) analysis Strategizing competency is one of the most essential to do SWOT analysis. Steps to conduct SWOT analysis: 1. Identify mission statement and goals, 2. Review of internal strength and weaknesses, and 3. To find external opportunities and threats that affect the business or an organization. How my competencies relate to the essential competencies for conducting a SWOT analysis Based on competencies and career interests profiler, my strength are 1.

Causes of the Great Depression

Causes of the Great Depression Moon Kyung Jung Economic fluctuations are inevitable in any nations that have any kinds of market, industries and more. However, there are always some unknown factors that deteriorate the fluctuations. During the 20th century, there were various economic fluctuations including the Great Depression which was triggered by some unknown factors at the time. This depression was considered one of the worst depressions ever faced by many nations during the time. Unemployment rate peaked at 24.9% that many people lost their jobs and decided to give up on their lives.[1] Even inflation rates sharply fluctuated which made investors to hesitate that whether they should invest or not. The Great Depression affected many nations around the world, including the U.S, and put these nations into disastrous situations. In this paper, there are two sections. First, I will talk about how the Great Depression started and came to hit the U.S. Also, I will be discussing about some effects the depression brought to the U.S. Lastly, I will talk about how the U.S economy was recovered and the process behind it. Falling Economy It is hard to point out where it exactly started from, but most countries started to face the depression at the same time.[2] Before we discuss about the Great Depression, let’s look at the industrial production of several countries. Before the depression started, many nations reached their peaks of production. During the time, the five major industrialized countries, the United States, Canada, Germany, Japan, and the United Kingdom, were highly innovative, competitive, and large-investing nations. Among 22 industrialized nations, the United States was not hit by the Great Depression until first twelve countries were tied to the depression.[3] Most nations that are part of the League of Nations were affected by the depression in similar ways, but the U.S did not responded in the same way. Among these variations, how the United States faced immediate severity of the Great Depression in ways that sharp decline in American output is more important.[4] The first year for most countries was just a common bad year that they faced the average decline in production only over 9 percent, which was not considered that severe. Compared to these countries, the U.S faced a huge decline in industrial production, 21 percent in the first year. This fact makes the Great Depression was considered great in the U.S earlier than other nations.[5] In more depth about the decline in output, the initial fall in production was more focused on consumer goods, while investment goods remained relatively the same unlike other countries.[6] However, as this depression continued a few years, most countries were experiencing a greater depression than before. Among these countries, however, the United States was an apparent loser that from the peak to fall in industrial production of 62 percent, which is a significant number. There was no country that experienced the same magnitude of the decline.[7] Now, let’s talk about the causes of the â€Å"American† depression. Simply, between 1929 and 1933, there were chains of shocks caused the United States’ aggregate demand to decline repeatedly, which caused the economy down.[8] Specifically, the U.S. economy was apparently experiencing downturn in the summer of 1929. However, in the beginning, this downturn was at slow pace. Not surprisingly, the source of this downturn was tightening of Federal Reserve policy, which Fed started open market sales of securities in January 1928. [9] Unfortunately, Fed failed to decrease in the money supply because banks sought this as opportunities that they significantly increased their borrowing at the discount window.[10] Both nominal and real interest rates dramatically increased due to the interplay of the open market sales and the increased demand for money and brokers’ loans caused by the stock market boom.[11] Whenever there is rise in interest rates, it is assumable that the country will face some kind of negative situations because this rise would make people to save more than investment, which creates imbalance between savings and investments. And this monetary policy that causes this significant rise in interest rates was mostly due to the stock market according to Hamilton.[12] And the situation deteriorated in October 1929 as the stock market crashed. The Federal Reserve Bank of New York bought significant amounts of government bonds, thus increasing the stock of high-powered money, which made both nominal and real interest rates fall sharply, but was not good enough to hold the depression back. And even bank panics followed up and the real interest rates became consistently high. [13] Another feature of the depression is the collapse in domestic consumption spending which followed the stock market crash. As mentioned earlier, consumer spending played a significant role in the decline of output. [14] The main source of this drop in consumption was the crash market itself. The stock market crash and frequent fluctuations in stock prices created large amount of uncertainties about future income. The fluctuations of stock prices did not always made consumers and investors pessimistic about future, but just uncertain.[15] Also, this uncertainty was fostered by forecasts made by analysts of the time that they expressed tremendous uncertainty about their assumptions of the future.[16] And yes, it did immediately cut consumers’ and investors’ spending on irreversible goods and they simply waited for future information. Fortunately, sellers of essential goods, grocery stores for example experienced rise in their profits, since everyone was restraining themsel ves from wasting their income. Also, the effect of uncertainty also decreased consumer spending by decreasing wealth and by shifting households’ balance sheets toward illiquidity.[17] Lastly, let’s talk about last feature that deteriorated the depression. Doubtlessly, last source of the continuous decline in production was a series of banking panics.[18] Several panics occurred in sequences that one wave of panics followed by another and so on. In the process, more than 9000 banks were inevitably forced to suspend their operations and depositors and stockholders lost roughly $2.5 billion.[19] In detail, these banking failures came in many ways. First, the money supply was directly impacted by the bank failures. The ratio of deposits to currency fell significantly because the safety of banks misgave depositors which made them not to save their money to banks. [20] This lack of deposits to the banks sharply reduced the money multiplier and the situation got worse as the Fed has done nothing to increase the stock of high-powered money, which could reduce the effects of this shock in money supply. Also, the financial panics interrupted the intermediation role o f banks. As the bank failures prevented these banks to help out small businesses that cannot issue stocks or bonds, it became more expensive for other banks to loan to customers from the failed banks, because it required large amounts of transaction costs, which worsened the depression. [21] Recovery from the Great Depression There were many factors that deteriorated the depression and it seems unrecoverable. Then what possibly can restore the economy of the United States? There could been many solutions, but one solution at the time was stimulus to aggregate demand, large portion of it was in the form of monetary expansion.[22] Before the monetary expansion, there have been many fiscal policies involved to fix the situation, but they were mostly ineffective. The fact that aggregate demand stimulus really brought the recovery was largely caused by demand-induced changes in the money multiplier, which make people to spend their money instead of just keeping it under their bed.[23] Then how did this monetary expansion really took place? The main source of this increase in the money supply of the United States was a large amount of gold inflow began in 1933.[24] The rapid rate of the growth was a â€Å"consequence of gold inflow produced by the revaluation of gold plus the flight of capital to the United States. It was in no way a consequence of the contemporaneous business expansion.†[25] This increase in gold inflow and revaluation made people to spend more dollars on gold in exchange of risk of holding dollars. Another source of the immense movement of funds to the United States was the fast deterioration in the international political situation.[26] European citizens largely transferred their funds to the United States due to the increasing threat of a European war which created misgiving of seizure or destruction of wealth by the enemy.[27] Many economists concluded that â€Å"Munich and the outbreak of war in Europe were the main factors determining the U.S. money stock, as Hitler and the gold miners had been.†[28] It is ironic that other countries’ economic collapses helped the U.S. to restore its economy. To make the argument that monetary expansion was the source of the recovery more plausible, let’s look at the transmission mechanism. It is widely accepted that the increase in money supply will decrease the interest rates. First, nominal interest rates fall as the money stock increases. With fixed or rising expected inflation, the fall in nominal interest rates implies a fall in real interest rates. This drop in rates will foster people to buy more of equipment and durable consumer goods because cost of borrowing decreased as interest rates dropped.[29] During the depression, rise in wages and prices were not fully offset by the rapid monetary expansion. If money supply did not grow as fast as the rise in wages and prices, real balances would not have improved and there would have been no force on nominal interest rates, which possibly could restrain the restoration. But in fact the money supply did grow at very rapid rate that the prices and wages did not completely amend to the very rapid rates of money growth. This made the real balances to increase while the nominal interest rates fall during the recovery process. Even with these very low nominal interest rates, the economy was not fully recovered yet, but there was no other way to continue the monetary expansion. So, the main way to continue the monetary expansion was to encourage the economy by generating potentials of inflation and thus triggering a reduction in real interest rates. However, consumers and investors believed in the stickiness of price which made them to think that prices would rise ultimately and therefore expected inflation over the not too distant horizon.[30] In order for monetary expansions to stimulate the economy, not only the real interest rates had to decrease, but there had to be positive respond in investment and other types of interest-sensitive spending. [31] In fact, the economy responded as expected that there have been sharp increase in fixed investment and the consumption of durable goods. Over the next few years, the spending grew very rapidly as the real interest rates stayed negative. Although the economy still experienced fluctuations that real interest rates turned significantly positive which disrupted the growth of the economy by restraining the consumption and investment. However, overall the economy was finding its way back to the peak again at very fast rate that spending remained consistently high enough to stimulate the growth. Conclusion The Great Depression occurred in 1929 around the world indeed led the time into a chaos. Although the Great Depression occurred simultaneously in the industrialized countries, the U.S. depression was quite unique in several ways. Compare to other nations, the U.S. experienced much more severe declines. No country experienced similar magnitude of depression as the U.S. did. Also, the United States’ depression was started by a decline in consumption in durable goods due, increase bank failures, and sharp rise in interest rates. Since the Great Depression was a worldwide problem so it can be considered international shocks, but it also can be considered as national aggregate demand shocks, only in American perspective, because it had many uniquely American roots. There were many shocks that were internationally dealt, but it was ultimately the U.S. shocks and the U.S. policy choices that determined the path of the America. [32] Throughout the depression, the U.S. government tried many things to solve the situation. Yes, in fact the monetary expansion was the important key to the restoration of the United States’ economy from the depression. On the other hand, fiscal policy did not really help anything during the process and remained ineffective until 1942. Since, many international elements also contributed to the U.S. depression, there had to be some international elements to get through the situation. In fact, World War II helped the U.S. economy from further deterioration by many Europeans transfer their funds to the U.S. in order to avoid the risk of losing them by the war. Also, the large amount of gold inflow helped the U.S. expansionary monetary developments to be successful in decreasing both nominal and real interest rates, which stimulated the economy and people to spend their money on consumption of durable goods and investments. Also, the very low interest rates helped this positive atmos phere to continue furthermore and in fact the U.S. economy successfully recovered from the depression. [33] Although the Great Depression was successfully overcome, it is still doubtful that other depressions can be handled in the same way. Future research and more data is needed to confirm and confidently conclude that the actions took during the Great Depression was the â€Å"most† efficient and effective options. References The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. What Ended the Great Depression? Christina D. Romer, The Journal of Economic Perspectives, Cambridge University Press, Vol. 52, No. 4 (Dec., 1992), pp. 757-784 [1] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [2] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [3] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [4] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [5] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [6] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [7] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [8] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [9] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [10] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [11] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [12] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [13] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [14] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [15] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [16] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [17] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [18] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [19] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [20] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [21] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [22] What Ended the Great Depression? Christina D. Romer, The Journal of Economic Perspectives, Cambridge University Press, Vol. 52, No. 4 (Dec., 1992), pp. 757-784 [23] What Ended the Great Depression? Christina D. Romer, The Journal of Economic Perspectives, Cambridge University Press, Vol. 52, No. 4 (Dec., 1992), pp. 757-784 [24] What Ended the Great Depression? Christina D. Romer, The Journal of Economic Perspectives, Cambridge University Press, Vol. 52, No. 4 (Dec., 1992), pp. 757-784 [25] What Ended the Great Depression? Christina D. Romer, The Journal of Economic Perspectives, Cambridge University Press, Vol. 52, No. 4 (Dec., 1992), pp. 757-784 [26] What Ended the Great Depression? Christina D. Romer, The Journal of Economic Perspectives, Cambridge University Press, Vol. 52, No. 4 (Dec., 1992), pp. 757-784 [27] What Ended the Great Depression? Christina D. Romer, The Journal of Economic Perspectives, Cambridge University Press, Vol. 52, No. 4 (Dec., 1992), pp. 757-784 [28] What Ended the Great Depression? Christina D. Romer, The Journal of Economic Perspectives, Cambridge University Press, Vol. 52, No. 4 (Dec., 1992), pp. 757-784 [29] What Ended the Great Depression? Christina D. Romer, The Journal of Economic Perspectives, Cambridge University Press, Vol. 52, No. 4 (Dec., 1992), pp. 757-784 [30] What Ended the Great Depression? Christina D. Romer, The Journal of Economic Perspectives, Cambridge University Press, Vol. 52, No. 4 (Dec., 1992), pp. 757-784 [31] What Ended the Great Depression? Christina D.Romer, The Journal of Economic Perspectives, Cambridge University Press, Vol.52, No.4 (Dec., 1992), pp.757-784 [32] The Nation in Depression. Christina D. Romer, The Journal of Economic Perspectives, American Economic Association, Vol. 7 No. 2 (Spring, 1993), pp. 19-39 Printed. [33] What Ended the Great Depression? Christina D. Romer, The Journal of Economic Perspectives, Cambridge University Press, Vol. 52, No. 4 (Dec., 1992), pp. 757-784

Essay --

CONTACT INFORMATION BIJAN ZARDBANI Address: 19 WOODHOUSE ROAD, DONCASTER EAST, VIC 3109 Email: BIJAN.ZARDBANI@GMAIL.COM Mobile: 0423812231 PERSONAL INFORMATION D.O.B: 20/10/1967 PLACE OF BIRTH: TEHRAN ( IRAN) CITIZENSHIP: IRAN VISA STATUS: BUSINESS SUBCLASS 163, VALID UNTIL FEB/2018 GENDER: MALE OVER VIEW Results-Oriented Mechanical Engineer With A Hands-On Approach To Tackling Projects And Accomplishing Goals. Project Manager With18 Years of Experience. Areas Of Expertise Include Piping (Steam Pipe And Steam Traps Included), Ducts, Heating, Heatexchangers, Air Conditioning, Supports (Guide), All Equipment And Machinery In Mechanical Room, Hot Water Boiler, Steam Boiler, Dearaitors, Air Washers, Cooling Towers, Air Handling Units And ... Experience In Electricity, Such As Cabling, Panels, Wiring, High Voltage Cabling And Junctions, High Voltage Panels, Lightning, Cable Trays, EarthingAnd All Electrical And Mechanical That Necessary In Commercial And Industrial Construction. Skills Complex problem solving Team leadership Technical problem-solving Works well in diverse ...

A Working Party :: essays research papers

This poem is about a 'normal', 'average' man who came to the trenches only 3 hours before, and then is killed as he is doing his job of piling sandbags along the parapet.Throughout this poem, Sassoon appeals to the emotions of the reader by trying to create an emotional attachment between the reader and the young man. He explains that "He was a young man, with a meagre wifeAnd two small children in a Midland town;He showed their photographs to all his mates,And they considered him a decent chapWho did his work and hadn't much to say,And always laughed at other people's jokesBecause he hadn't any of his own."Sassoon deliberately describes the man clearly and significant detail, which makes the reader realise that this man was just a normal man, probably not unlike the reader, and makes the reader see the pure tragedy when the man dies. "He was just a simple man, who never did anything to hurt anyone" is the response Sassoon wants the reader to have, and feel the i njustice of the man's death.Sassoon specifically starts the poem off slowly, describing the men slowly making their way down the trenches, slipping into the mud and squeezing past other soldiers returning from the front line. Then, he ironically rushes the man's death in the last two lines, after the man is thinking how slow time passes. The man's sudden death shocks the reader and shows them how suddenly life can be taken away."And as he dropped his head the instant splitHis startled life with lead, and all went out."Throughout the poem, Sassoon uses excellent descriptions to involve the reader in the 'action' of the poem, and with the man. He clearly describes the men making their way down the trench towards the front line - "Sliding and poising, groping with his boots", "...splashing wretchedly where the sludge was ankle deep". Language like this almost takes the reader there, and again makes the reader identify with the character. Sassoon also uses the same strong descriptions of the area to make the reader feel like they are in the trenches along with the man - "Sandbags bleached with rain", "... pawed sodden sandbags of chalk", "White faces peered, puffing a point of red", "... the gloom swallowed...". He uses references to colour, texture and sound to give the reader an understanding of what it felt like to be there.

Imagination, Perception and the Experience of Nature in Literature Essa

Imagination, Perception and the Experience of Nature in Literature Works Cited Missing I am a psychology student with an English minor. While the combination seems odd at first glance, the two studies actually compliment each other quite nicely. I have always been fascinated by the way in which writing can reflect the inner workings of an author's mind, by the way it effects the reader in such a profound, defamiliarizing way, as well as by the way that it can be used to explore the many facets of human nature in a much more effective way than any research study. Because of this thought process I have been particularly interested in several of the poets that we have looked at and their exploration of the effects of the forces of imagination and sensual perception on their perception of nature. The debate over how much of our personal experience is based upon what we see and hear and how much is based on what we feel and believe is long standing and crosses many fields of study, psychology being only one of them. William Wordsworth's "Tintern Abbey", Percy Shelley's "Mon t Blanc" and to an extent Samuel Coleridge's "Chamouny: the Hour Before Sunrise" all represent different stances on the issue and therefore aid the reader in exploring the effects of perception and of imagination on experience. In Wordsworth's "Tintern Abbey", the poet explores the experience of nature as collaboration between imagination and sensual perception. He reflects on how the Wye valley has existed for him in his imagination in the years since he first visited the valley, and how now that he has returned to the same site "with gleams of half-extinguished thought, / With many recognitions dim and faint / And somewhat of a sad perplexity, / The p... ... nature is affected by their attitudes and the degree to which their attitudes are in place because of their experiences with nature. Wordsworth seems to hold back from committing himself to any one view of the relationship between experience and attitude, sensual perception and imagination. He seems to best appreciate the two way street that the aspects of unified perception operate on. While there can be no conclusions drawn as to the degree to which our experience of anything is based upon sensual perception or upon our imagination, I think that it is safe to say that our unified perception of the world around us is based upon interplay between the two. Exploration of the nature of experience by the poets discussed in the previous paragraphs further highlights the relationship between psychology and literature and helps to explain my fascination with both. Imagination, Perception and the Experience of Nature in Literature Essa Imagination, Perception and the Experience of Nature in Literature Works Cited Missing I am a psychology student with an English minor. While the combination seems odd at first glance, the two studies actually compliment each other quite nicely. I have always been fascinated by the way in which writing can reflect the inner workings of an author's mind, by the way it effects the reader in such a profound, defamiliarizing way, as well as by the way that it can be used to explore the many facets of human nature in a much more effective way than any research study. Because of this thought process I have been particularly interested in several of the poets that we have looked at and their exploration of the effects of the forces of imagination and sensual perception on their perception of nature. The debate over how much of our personal experience is based upon what we see and hear and how much is based on what we feel and believe is long standing and crosses many fields of study, psychology being only one of them. William Wordsworth's "Tintern Abbey", Percy Shelley's "Mon t Blanc" and to an extent Samuel Coleridge's "Chamouny: the Hour Before Sunrise" all represent different stances on the issue and therefore aid the reader in exploring the effects of perception and of imagination on experience. In Wordsworth's "Tintern Abbey", the poet explores the experience of nature as collaboration between imagination and sensual perception. He reflects on how the Wye valley has existed for him in his imagination in the years since he first visited the valley, and how now that he has returned to the same site "with gleams of half-extinguished thought, / With many recognitions dim and faint / And somewhat of a sad perplexity, / The p... ... nature is affected by their attitudes and the degree to which their attitudes are in place because of their experiences with nature. Wordsworth seems to hold back from committing himself to any one view of the relationship between experience and attitude, sensual perception and imagination. He seems to best appreciate the two way street that the aspects of unified perception operate on. While there can be no conclusions drawn as to the degree to which our experience of anything is based upon sensual perception or upon our imagination, I think that it is safe to say that our unified perception of the world around us is based upon interplay between the two. Exploration of the nature of experience by the poets discussed in the previous paragraphs further highlights the relationship between psychology and literature and helps to explain my fascination with both.

Dior Omni Channel

Luxury Retail Management Individual Assignment Luxury Brands Digital & OMNI Retail Strategies Decoding DIOR DNA †¢ †¢ †¢ Feminine Princess Sexy CODES †¢ †¢ †¢ Cannage Knot & Oval Rose †¢ †¢ Flirtatious Francaise †¢ †¢ Avenue Montaigne New Look Distribution Strategy †¢ Dior Beauty is following a multi-channel distribution strategy worldwide. †¢ Mainly sell products at wholesale to dealers and retailers including department stores. †¢ Also sell beauty products in brand retail store together with ready-to-wear section. Retail Presence †¢ With growth much higher than the average in its competitive market, Dior Beauty continued to gain market share globally. Dior beauty achieved clear successes in all product categories: start from perfumes for both men and women, then makeup, and finally the skincare segment. On-line and Digital Strategy †¢ Using the web and social media is a new trend for luxury brands. But being innovative and ambitious while being loyal to the luxury image is not an easy game to play. Dior Beauty is overall growing in an impressive way. †¢ With a strong support from LVMH Group, Dior Beauty is positively developing in diverse digital channels in mature and emerging markets, through both mainstream media and some chic platforms. Although Dior Beauty sets a good example for luxury brands in on-line and digital strategy, it still failed to make the top 10 list of the digital competence of 56 beauty brands according to L2’s annual Digital IQ Index benchmark. Can we equally feel the same Dior? How can Dior Beauty convey its brand DNA and codes, culture, values, quality, craftsmanship and exclusivity on? line? †¢ Dior Beauty doesn’t create a totally new website which is independent from Dior. In this way people can potentially get the whole idea about the brand DNA. Dior Beauty segment is divided into three particular parts: Perfume, Makeup and Skincare. The welcome pages of these three parts are all filled with the new campaign. †¢ Each division is well-organized and user friendly. People can immerse in the Dior world with products introduction, collection images, and abundant knowhow videos. †¢ While browsing, people can also get advise by a simple click. New Campaign Brand History Products information & clear collection name Easy to choose Direct connection with social media Code: Cannage Personalized advice Code: Oval Craftsmanship http://www. ior. com/beauty/fra/fr/the_house_of_dior/index/th/mur_de_notes/index. html †¢ Various videos can show people the brand history, culture and value proposition. †¢ They also create an atmosphere of exclusivity and provide a guarantee of high quality. †¢ After selection, clients can easily open their own account and take the order on-line. Easy to order Clients’ recommendations The challenges †¢ It is reasonable that the Dior official site can successfully convey its brand DNA and exclusivity on-line. †¢ However, not all the customers visit the official site to order beauty products.Most of on-line consumers still prefer shopping at mass beauty website such as Sephora, Harrods, Taobao, etc. †¢ These websites differ from each other, then how to keep the coherence of the brand DNA with the necessity of adapting to distributors’ style and local culture background is a huge challenge. †¢ Besides, creating a luxury customer experience and also educating its customers on-line is definitely not easy to achieve. Example: Harrods †¢ Even though people browse the website of Harrods, they can also feel the brand DNA and culture of Dior Beauty. †¢ The products are segmented in the same way as Dior official site. All the campaigns and videos are consistent with Dior’s new promotion. Example: Taobao †¢ Taobao is the most popular on-line shopping website in China which achieved 1000 billion RMB in 2012. A nd Dior Beauty made the Top1 in makeup sector. †¢ However, apart from few words about Dior’s history, seldom can people find any brand DNA or consistency. †¢ Products are presented randomly with no background information or sense of luxury. †¢ The situation in Taobao is not the only case for Dior Beauty, almost all the luxury brands are facing with the same problem: people are buying a lot, ut they have no idea about brand story or collection concept, what they want is only the hot item, especially when the on-line shopping service is still unavailable at Dior’s official site in China and many other countries. †¢ Therefore, it is crucial for the brand to avoid letting it be. They should try their best to educate the potential customers. It is hard, but indispensable. If Dior Beauty can start earlier, it is more possible to hold its leading position in the future. Example: Sephora †¢ English version of welcome page. †¢ French version is muc h more simple. Explore the brand Hot itemsProducts catalogue New campaign †¢ Chinese version How to educate the customers? †¢ From the Sephora example we can easily find the difference. Even though they sell almost the same products, the promotion strategies are quiet different. †¢ As a well-known French brand, Dior obviously doesn’t need to make too many efforts to educate their mature customers. The only thing is to keep the coherence with the Brand DNA. †¢ When dealing with international version, they pay more attentions to the details. We can see that there are more cultural parts to introduce the brand history and collection background information.How to educate the customers? †¢ For the emerging market such as China, the website is much more well-organized. It is almost as complete as Dior’s official site. †¢ Besides, if we take a further look, it is also interesting to see that there are more products introduction and hot items prom otion in Chinese version. That is probably because the customers from emerging markets focus more on popular products right now rather than brand DNA. †¢ For example, the major ads in English and French welcome pages are showing Dior Beauty’s feminine feature. However, all the pictures in front page of Chinese version are products. Overall, it takes time to educate potential consumers, to help them turn from product consumer to brand consumer. Especially in beauty sector, each new product from other brand in the market may attract the clients who are not loyal customers yet. †¢ With the fast development of digital system, it is hard to maintain interests of clients through only one way. That is why nowadays brands are caring more about the influence of social media. Brand Websites & Content Digital Strategy Social Media & Bloggers E-commerce How can Dior Beauty leverage on digital strategy to complement its physical stores presence?Brand Websites & Content †¢ A s we analyzed before, the official site of Dior Beauty is quite impressive. The whole design is coherent with the brand DNA and culture, and tries to educate the viewers by all means. †¢ However, there are still a few things need to be improved. †¢ The cooperation between e-commerce and official website is missing in some countries. People from emerging market such as China, Brazil can not buy online yet. †¢ The CRM system isn’t completed. For example, in China, customer need to change their shopping credits into gift by phone, and get their on-line account number by message.It is really inconvenient. E-commerce †¢ With the strong promotion from LVMH Group, Christian Dior is now becoming more and more popular in its beauty division. †¢ Dior Beauty is also following the similar e-commerce strategy as that of LVMH. Not only is it important to control the supply of products and distribution, but furthermore it is important to control the message. †¢ As many brands move into conversational online media, such as Facebook and Twitter, they enter into a medium of a dialogue where third parties can completely alter or dilute the power of a message.Therefore, to control the message, you need to control the media. †¢ Dior MAG launched in March 2012. E-commerce †¢ While dealing with emerging markets, Dior Beauty hasn’t come up with efficient strategy yet due to the immature consumers and unpredictable market. †¢ In reverse, the brand doesn’t want to provide recent products or executive collections to sell on-line in these markets, clients are more possible to acquire faked products and terrible experience. †¢ Here one Miss Dior 50ml plus one Dior Addict 50ml cost no more than 40â‚ ¬, and tens of thousands of Chinese customers were set up.Example Dior Mag †¢ The online magazine will take fans of the brand inside the company from the past to the present. †¢ It will feature articles that ent ertain as well as inform die-hard Dior fans. †¢ The new magazine will feature higher resolution †¢ The brand isn’t stopping images as well as there as they plan to roll out lengthier videos for iPad and iPhone versions of people to share. the magazine, for the fashionista on the go. Social Media & Bloggers †¢ Dior has an active strategy on social media, and it dominates especially in Facebook and Twitter. Dior Beauty doesn’t have an independent account in social media. All the activities and promotions are posted together with Dior Couture. Coherent with new campaign Social Media & Bloggers †¢ YouTube is becoming more noticeable in the beauty industry’s online ecosystem. More beauty brands are receiving upstream traffic from YouTube to their sites than in 2011. Dior is in the top 10 YouTube channels for beauty brands ranked by video views, per the study. †¢ While watching the videos of new campaign, people can directly click the link to official site.Social Media & Bloggers †¢ They have an independent channel at YouTube to introduce products and to enhance the brand recognition. †¢ Videos are divided into different divisions, in this way customers can also be educated. Social Media & Bloggers †¢ As a micro-blogging platform and social networking website, Tumblr allows users to post multimedia and other contents to a short-form blog. Users can follow other users' blogs, as well as make their blogs private. †¢ An analysis by AddThis of shares through their service in 2011 noted that Tumblr sharing had increased by 1299. %. Social Media & Bloggers †¢ The service is most popular with the teen and college-aged user segments with half of Tumblr's visitor base being under the age of 25. As of 2009, Tumblr had an 85% user retention rate, compared with 40% for Twitter. †¢ Therefore, Dior launched its page at Feb. 2013 to attract young generation, as well as to educate potential consumers. Socia l Media & Bloggers †¢ As a global brand, it is not enough to only focus on international social media. Some countries have their special limit on Internet and their own social media. Dior Beauty makes a lot of efforts on promoting at local social media. †¢ For example, in China, Dior official page at Weibo has 568,535 fans, which is more than Louis Vuitton, Chanel, and Gucci. †¢ At the most important video site Youku, Dior has more than 12 million followers. It is also one of the earliest brands that created its own video channel. Social Media & Bloggers †¢ The pages are coherent with each other, showing the consistency of the brand DNA. Social Media & Bloggers †¢ WeChat is growing extremely fast from young generation to all, so Dior launched its public page at the beginning of 2013. However, it is not mature enough. For example, it lacks of the connection between WeChat and other social media, as well as purchasing possibility. Social Media & Bloggers †¢ The fast development of social media and blog totally changed the concept of luxury traditional distribution strategy: from receiving information passively to create and spread contents actively. †¢ Therefore it is crucial to not only provide abundant contents, but also build efficient channel to communicate with numerous potential customers in a luxury way. As we know, the biggest challenge for luxury brands is how to balance the image and business. Regard to digital strategy, that is how to lever on combined real stores as well as E, M and S commerce and technology to give empowered consumers more flexibility and convenience while preserving exclusivity. Example: Kaixin. com †¢ Dior is one of the earliest luxury brands that created a public page at Kaixin. com, a website whose users are mostly white collars. †¢ When Dior Beauty launched J’adore in 2011, the public page delivered invitations to all the fans at Kaixin.Only one week, there were over 170 thous and people joined the launch event of this new fragrance. †¢ Apart from watching and sharing with friends at Kaixin, fans can also share with people at Weibo. †¢ Finally, over 840 thousand people interacted with Dior Beauty, 79% of fans opened their invitations and watched the advertisement. 37% of them shared with their friends. Example: Kaixin. com †¢ Dior Beauty continues to interact with fans at Kaixin, who are mostly their targeted customers. †¢ After watching the new campaign, people can fill in their personal information to Watch video earn samples. Cooperation with Kaixin is a great success to Dior Beauty, it encourages Dior’s digital Personal information strategy and satisfies the demand of high-end users at Invite friends and share Kaixin. OMNI Retail Strategy †¢ Overall Dior Beauty has built an efficient and wellperformed OMNI retail strategy. †¢ It remains true to its DNA & codes while maintaining exclusivity on-line as they do off-li ne. That is why Dior nowadays is getting a stronger image as well as becoming more popular. †¢ It keeps on emphasizing the brand history and culture in different ways, so that potential customers can be educated and become more mature in the future. The initiative inside the brand and the strong support behind it give Dior Beauty so many opportunities to enter various social media, blogs, and e-commerce world as a pioneer. OMNI Retail Strategy †¢ Two smartphone apps, Dior MAG and Dior Addict, truly and strongly invite consumers to engage in a two-way dialogue with Dior Beauty on various topics. †¢ The combination of all channels will give empowered consumers more flexibility and convenience to purchase. †¢ However, the leverage on brick and click still needs to be improved with more innovative strategies. Conclusion The digital revolution for luxury brands is on the way. Every brand that wants to stay in the leading place needs to create an entire shopping ecosys tem and memorable experience for customers. †¢ Dior Beauty is definitely a leader in building OMNI retail channel, especially in new social media and in emerging markets. †¢ Although so far Dior Beauty has performed well, regarding to the uncertainty and various possibilities of digital marketing in the future, it still has a lot to explore and to attempt. â€Å"I create so that each and every woman is the most beautifulâ€Å" —— Christian Dior Dior Omni Channel Luxury Retail Management Individual Assignment Luxury Brands Digital & OMNI Retail Strategies Decoding DIOR DNA †¢ †¢ †¢ Feminine Princess Sexy CODES †¢ †¢ †¢ Cannage Knot & Oval Rose †¢ †¢ Flirtatious Francaise †¢ †¢ Avenue Montaigne New Look Distribution Strategy †¢ Dior Beauty is following a multi-channel distribution strategy worldwide. †¢ Mainly sell products at wholesale to dealers and retailers including department stores. †¢ Also sell beauty products in brand retail store together with ready-to-wear section. Retail Presence †¢ With growth much higher than the average in its competitive market, Dior Beauty continued to gain market share globally. Dior beauty achieved clear successes in all product categories: start from perfumes for both men and women, then makeup, and finally the skincare segment. On-line and Digital Strategy †¢ Using the web and social media is a new trend for luxury brands. But being innovative and ambitious while being loyal to the luxury image is not an easy game to play. Dior Beauty is overall growing in an impressive way. †¢ With a strong support from LVMH Group, Dior Beauty is positively developing in diverse digital channels in mature and emerging markets, through both mainstream media and some chic platforms. Although Dior Beauty sets a good example for luxury brands in on-line and digital strategy, it still failed to make the top 10 list of the digital competence of 56 beauty brands according to L2’s annual Digital IQ Index benchmark. Can we equally feel the same Dior? How can Dior Beauty convey its brand DNA and codes, culture, values, quality, craftsmanship and exclusivity on? line? †¢ Dior Beauty doesn’t create a totally new website which is independent from Dior. In this way people can potentially get the whole idea about the brand DNA. Dior Beauty segment is divided into three particular parts: Perfume, Makeup and Skincare. The welcome pages of these three parts are all filled with the new campaign. †¢ Each division is well-organized and user friendly. People can immerse in the Dior world with products introduction, collection images, and abundant knowhow videos. †¢ While browsing, people can also get advise by a simple click. New Campaign Brand History Products information & clear collection name Easy to choose Direct connection with social media Code: Cannage Personalized advice Code: Oval Craftsmanship http://www. ior. com/beauty/fra/fr/the_house_of_dior/index/th/mur_de_notes/index. html †¢ Various videos can show people the brand history, culture and value proposition. †¢ They also create an atmosphere of exclusivity and provide a guarantee of high quality. †¢ After selection, clients can easily open their own account and take the order on-line. Easy to order Clients’ recommendations The challenges †¢ It is reasonable that the Dior official site can successfully convey its brand DNA and exclusivity on-line. †¢ However, not all the customers visit the official site to order beauty products.Most of on-line consumers still prefer shopping at mass beauty website such as Sephora, Harrods, Taobao, etc. †¢ These websites differ from each other, then how to keep the coherence of the brand DNA with the necessity of adapting to distributors’ style and local culture background is a huge challenge. †¢ Besides, creating a luxury customer experience and also educating its customers on-line is definitely not easy to achieve. Example: Harrods †¢ Even though people browse the website of Harrods, they can also feel the brand DNA and culture of Dior Beauty. †¢ The products are segmented in the same way as Dior official site. All the campaigns and videos are consistent with Dior’s new promotion. Example: Taobao †¢ Taobao is the most popular on-line shopping website in China which achieved 1000 billion RMB in 2012. A nd Dior Beauty made the Top1 in makeup sector. †¢ However, apart from few words about Dior’s history, seldom can people find any brand DNA or consistency. †¢ Products are presented randomly with no background information or sense of luxury. †¢ The situation in Taobao is not the only case for Dior Beauty, almost all the luxury brands are facing with the same problem: people are buying a lot, ut they have no idea about brand story or collection concept, what they want is only the hot item, especially when the on-line shopping service is still unavailable at Dior’s official site in China and many other countries. †¢ Therefore, it is crucial for the brand to avoid letting it be. They should try their best to educate the potential customers. It is hard, but indispensable. If Dior Beauty can start earlier, it is more possible to hold its leading position in the future. Example: Sephora †¢ English version of welcome page. †¢ French version is muc h more simple. Explore the brand Hot itemsProducts catalogue New campaign †¢ Chinese version How to educate the customers? †¢ From the Sephora example we can easily find the difference. Even though they sell almost the same products, the promotion strategies are quiet different. †¢ As a well-known French brand, Dior obviously doesn’t need to make too many efforts to educate their mature customers. The only thing is to keep the coherence with the Brand DNA. †¢ When dealing with international version, they pay more attentions to the details. We can see that there are more cultural parts to introduce the brand history and collection background information.How to educate the customers? †¢ For the emerging market such as China, the website is much more well-organized. It is almost as complete as Dior’s official site. †¢ Besides, if we take a further look, it is also interesting to see that there are more products introduction and hot items prom otion in Chinese version. That is probably because the customers from emerging markets focus more on popular products right now rather than brand DNA. †¢ For example, the major ads in English and French welcome pages are showing Dior Beauty’s feminine feature. However, all the pictures in front page of Chinese version are products. Overall, it takes time to educate potential consumers, to help them turn from product consumer to brand consumer. Especially in beauty sector, each new product from other brand in the market may attract the clients who are not loyal customers yet. †¢ With the fast development of digital system, it is hard to maintain interests of clients through only one way. That is why nowadays brands are caring more about the influence of social media. Brand Websites & Content Digital Strategy Social Media & Bloggers E-commerce How can Dior Beauty leverage on digital strategy to complement its physical stores presence?Brand Websites & Content †¢ A s we analyzed before, the official site of Dior Beauty is quite impressive. The whole design is coherent with the brand DNA and culture, and tries to educate the viewers by all means. †¢ However, there are still a few things need to be improved. †¢ The cooperation between e-commerce and official website is missing in some countries. People from emerging market such as China, Brazil can not buy online yet. †¢ The CRM system isn’t completed. For example, in China, customer need to change their shopping credits into gift by phone, and get their on-line account number by message.It is really inconvenient. E-commerce †¢ With the strong promotion from LVMH Group, Christian Dior is now becoming more and more popular in its beauty division. †¢ Dior Beauty is also following the similar e-commerce strategy as that of LVMH. Not only is it important to control the supply of products and distribution, but furthermore it is important to control the message. †¢ As many brands move into conversational online media, such as Facebook and Twitter, they enter into a medium of a dialogue where third parties can completely alter or dilute the power of a message.Therefore, to control the message, you need to control the media. †¢ Dior MAG launched in March 2012. E-commerce †¢ While dealing with emerging markets, Dior Beauty hasn’t come up with efficient strategy yet due to the immature consumers and unpredictable market. †¢ In reverse, the brand doesn’t want to provide recent products or executive collections to sell on-line in these markets, clients are more possible to acquire faked products and terrible experience. †¢ Here one Miss Dior 50ml plus one Dior Addict 50ml cost no more than 40â‚ ¬, and tens of thousands of Chinese customers were set up.Example Dior Mag †¢ The online magazine will take fans of the brand inside the company from the past to the present. †¢ It will feature articles that ent ertain as well as inform die-hard Dior fans. †¢ The new magazine will feature higher resolution †¢ The brand isn’t stopping images as well as there as they plan to roll out lengthier videos for iPad and iPhone versions of people to share. the magazine, for the fashionista on the go. Social Media & Bloggers †¢ Dior has an active strategy on social media, and it dominates especially in Facebook and Twitter. Dior Beauty doesn’t have an independent account in social media. All the activities and promotions are posted together with Dior Couture. Coherent with new campaign Social Media & Bloggers †¢ YouTube is becoming more noticeable in the beauty industry’s online ecosystem. More beauty brands are receiving upstream traffic from YouTube to their sites than in 2011. Dior is in the top 10 YouTube channels for beauty brands ranked by video views, per the study. †¢ While watching the videos of new campaign, people can directly click the link to official site.Social Media & Bloggers †¢ They have an independent channel at YouTube to introduce products and to enhance the brand recognition. †¢ Videos are divided into different divisions, in this way customers can also be educated. Social Media & Bloggers †¢ As a micro-blogging platform and social networking website, Tumblr allows users to post multimedia and other contents to a short-form blog. Users can follow other users' blogs, as well as make their blogs private. †¢ An analysis by AddThis of shares through their service in 2011 noted that Tumblr sharing had increased by 1299. %. Social Media & Bloggers †¢ The service is most popular with the teen and college-aged user segments with half of Tumblr's visitor base being under the age of 25. As of 2009, Tumblr had an 85% user retention rate, compared with 40% for Twitter. †¢ Therefore, Dior launched its page at Feb. 2013 to attract young generation, as well as to educate potential consumers. Socia l Media & Bloggers †¢ As a global brand, it is not enough to only focus on international social media. Some countries have their special limit on Internet and their own social media. Dior Beauty makes a lot of efforts on promoting at local social media. †¢ For example, in China, Dior official page at Weibo has 568,535 fans, which is more than Louis Vuitton, Chanel, and Gucci. †¢ At the most important video site Youku, Dior has more than 12 million followers. It is also one of the earliest brands that created its own video channel. Social Media & Bloggers †¢ The pages are coherent with each other, showing the consistency of the brand DNA. Social Media & Bloggers †¢ WeChat is growing extremely fast from young generation to all, so Dior launched its public page at the beginning of 2013. However, it is not mature enough. For example, it lacks of the connection between WeChat and other social media, as well as purchasing possibility. Social Media & Bloggers †¢ The fast development of social media and blog totally changed the concept of luxury traditional distribution strategy: from receiving information passively to create and spread contents actively. †¢ Therefore it is crucial to not only provide abundant contents, but also build efficient channel to communicate with numerous potential customers in a luxury way. As we know, the biggest challenge for luxury brands is how to balance the image and business. Regard to digital strategy, that is how to lever on combined real stores as well as E, M and S commerce and technology to give empowered consumers more flexibility and convenience while preserving exclusivity. Example: Kaixin. com †¢ Dior is one of the earliest luxury brands that created a public page at Kaixin. com, a website whose users are mostly white collars. †¢ When Dior Beauty launched J’adore in 2011, the public page delivered invitations to all the fans at Kaixin.Only one week, there were over 170 thous and people joined the launch event of this new fragrance. †¢ Apart from watching and sharing with friends at Kaixin, fans can also share with people at Weibo. †¢ Finally, over 840 thousand people interacted with Dior Beauty, 79% of fans opened their invitations and watched the advertisement. 37% of them shared with their friends. Example: Kaixin. com †¢ Dior Beauty continues to interact with fans at Kaixin, who are mostly their targeted customers. †¢ After watching the new campaign, people can fill in their personal information to Watch video earn samples. Cooperation with Kaixin is a great success to Dior Beauty, it encourages Dior’s digital Personal information strategy and satisfies the demand of high-end users at Invite friends and share Kaixin. OMNI Retail Strategy †¢ Overall Dior Beauty has built an efficient and wellperformed OMNI retail strategy. †¢ It remains true to its DNA & codes while maintaining exclusivity on-line as they do off-li ne. That is why Dior nowadays is getting a stronger image as well as becoming more popular. †¢ It keeps on emphasizing the brand history and culture in different ways, so that potential customers can be educated and become more mature in the future. The initiative inside the brand and the strong support behind it give Dior Beauty so many opportunities to enter various social media, blogs, and e-commerce world as a pioneer. OMNI Retail Strategy †¢ Two smartphone apps, Dior MAG and Dior Addict, truly and strongly invite consumers to engage in a two-way dialogue with Dior Beauty on various topics. †¢ The combination of all channels will give empowered consumers more flexibility and convenience to purchase. †¢ However, the leverage on brick and click still needs to be improved with more innovative strategies. Conclusion The digital revolution for luxury brands is on the way. Every brand that wants to stay in the leading place needs to create an entire shopping ecosys tem and memorable experience for customers. †¢ Dior Beauty is definitely a leader in building OMNI retail channel, especially in new social media and in emerging markets. †¢ Although so far Dior Beauty has performed well, regarding to the uncertainty and various possibilities of digital marketing in the future, it still has a lot to explore and to attempt. â€Å"I create so that each and every woman is the most beautifulâ€Å" —— Christian Dior

International Trade and Starbucks Essay

The original idea for Starbucks came from Howard Schultz after he took a trip to Italy. He was inspired by the coffee house experience and wanted to bring it to America. The lesson that can be drawn from this situation is that business formats in other countries can be translated successfully in other parts of the world. New opportunities can be taken advantage of internationally wherever there is a need for it. 2) What drove Starbucks to start expanding internationally? How is the company creating value for its shareholders by pursuing an international expansion strategy? The success that Starbucks was having in America drove the company to expand to other countries. In 1995 Starbucks had over 700 profitable stores across the U. S. and began exploring the international market in Japan. By entering the international market Starbucks is becoming a part of the global market. This brings value to shareholders because the world is moving towards globalization and it is necessary for companies to change their market strategy to meet the conditions of the global market. An international expansion strategy allows Starbucks to compete in the market more effectively and create more value for shareholders. 3) Why do you think Starbucks decided to enter the Japanese market via a joint venture with a Japanese company? What lesson can you draw from this? I believe Starbucks did a Japanese joint venture to help reduce the risk. Since the Japanese company Sazaby Inc. also had a 50% stake in the company it benefits Starbucks to have a partner who knows that Japanese market and who also has economical interest in seeing the company succeed. This shows that entering into joint ventures in international territories can help facilitate growth and lessen the financial burden if international ventures happen to fail. 4) Is Starbucks a force for globalization? Explain your answer. Yes, I believe Starbucks is a force for globalization. Starbucks is a multinational enterprise that has operations in countries all over the world like Canada, Japan, Britain, Thailand, and New Zealand. Starbucks empowers workers and farmers around the world and contributes to the economic growth of the global economy. 5) When it comes to purchasing coffee beans, Starbucks adheres to a â€Å"fair trade† program. What do you think is the difference between fair trade and free trade? How might a fair trade policy benefit Starbucks? Fair trade is a system that ensures that workers and exporters get a fair profit from the goods that the sell. Free trade is strictly based on the markets supply and demand for goods and services without regulation or moral implications. The fair trade policy that Starbucks adheres too will make consumers feel better about purchasing goods from their store. Many people are conscious about unfair wages and treatment of workers around the world and are more attracted to companies that do not follow the cheap labour trend.

Areas of Strategic Plan: Huffman Trucking Essay

Introduction The business continuity plan outlines the processes required to ensure the continuance of business during and after a disaster. The idea is not just to be able to continue business uninterrupted. But to also reestablish the full functions of the business as quickly as possible. Huffman Trucking Strategic Outline Huffman Stakeholders: Everyone affected by the activities of its business. Main Stakeholders: shareholders, management, employee’s, customers, auto parts suppliers, major manufacturers of plastic goods, banks, government, and trade unions, Other Stakeholders: pressure groups, highway drivers, and communities in which Huffman travels and operates their terminals. Mission Statement: â€Å"Since 1936 Huffman’s professional drivers have been delivering more than just on-time freight. Huffman delivers top quality service, safely and efficiently every mile of the way, to the community of the United States of America.† Vision Statement: â€Å"Huffman envisions being the first choice of company’s of America when they look for transportation of freight. In three years Huffman will be the number one freight carrier of the United States government. Proving longevity and efficiency will always be in high demand.† Outline A. Financial 1. Financial Assumptions: Revenue and Expenses a. Operation cost b. Updating hardware and software c. Find a cost saving method to duplicate records for fleet maintenance and enterprise transportation systems. B. Managerial 1. Develop a business plan to define and meet organizations goals. Create a contingency plan that can be taken in case of emergency or disaster (Myers, 2005). 2. Plan for cost savings for contingency plan (Myers, 2005). C. Economic `1. â€Å"Analyze the potential costs and value the anticipated benefits of a proposed programmer, policy or regulatory initiative, and reflect trade-offs inherent in alternatives† (Health & Environment, 2011, par. 1). D. Marketing 1. Advertisement of business products and services 2. Make sure data is accurate and notify customers about plan 3. Make agreement and arrangement for customers to receive deliveries on time. 4. Work to build and maintain effective communication with employees and customers. E. Technological 1. Information technology-based 2. Research and development 3. Emerge technology 4. Internet F. Competition 1. Globalization a. Canada b. Mexico 2. Research and development a. Data collection G. Political/Legal 1. Government. Political variables include policies regarding competition and taxation (FitzRoy & Hulbert, 2005). a. Employment law b. government spending c. regulation of financial markets H. Ethics 1. Huffman should follow widely accepted ethical practices regarding the acquisition of competitor intelligence (Hitt, Ireland, & Hoskisson, 2009). a. Gathering publicly available information 1. court records 2. advertisements 3. annual reports (Hitt, Ireland, & Hoskisson, 2009). 4. trade fairs and shows a. competitor brochures b. listen to competitor discussions I. Crisis management 1. Backup plan. a. computer fallback plan b. prevention program c. incident recovery plan Conclusion With all of the natural disasters, power outages, and terror attacks and a hundred other types of disasters, businesses have to plan for continuance of their business. The Business continuity plan is usually drafted considering the worst case scenario. For example the IT department may maintain all the electronic data at various locations, so in the event of a company shutdown, the critical functions can still be performed. Business continuity has become a growing concern in business. References Allen, S. (2011). How to Do Business with the U.S. Government. Retrieved December 15, 2011 From http://entrepreneurs.about.com/cs/marketing/ht/government_biz.htm FitzRoy P., & Hulbert, J. (2005). Strategic Management: Creating Value in Turbulent Times. Hoboken, NJ: John Wiley & Sons. Health & Environment Linkages Initiative. (2011). Economic Assessment. Retrieved December 18, 2011, from http://www.who.int/heli/economics/en/ Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2009). Strategic Management: Competitiveness And Globalization, Concepts and Cases (8th ed.). Mason, OH: South-Western Cengage Learning. Myers, K. N., (2006). Business Continuity Strategies: Protecting Against Unplanned Disasters (3rd ed.). Hoboken, NJ: John Wiley & Sons.