Some Marketers Believe That The Customer Is Always Right Essay

Some Marketers Believe That The Customer Is Always Right - Essay Example It is evident that all of these approaches cannot be regarded as the most effective strategy. Of course, all of them are to be observed and used while planning company's future. It seems that the third one provides the most favourable basis for creating effective strategy, but it also should be examined and completed. Management is an integral part of the modern society's activity. It is connected to all fields of activity and that is why it is necessary to know as much as possible about its laws and specificity. The directive philosophy in any strategic management development, no matter in the public or in private sector, are about appreciating what changes are required, how to realize and run these changes, and how to produce a schedule for supporting betterments that lead to better presentation. The problems of relationship between economy and ethics are examined and discussed by many scholars at present. More and more experts say about conflicts between these two spheres. But recently some of the most talented economists started to address most relevant problems in society at present. (Hunger) One of the founders of modern economics, Alfred Marshall wrote in his book that poverty and its elimination "give to economic studies... their chief and their highest interest". (qtd in Kabodian)But a complex structure of global economical processes today demonstrates that up-to-day ethical reflection is problematic today. And the statement of various economists to be occupied with making social "value-free" science, became a reason for ethicists and average customers to start a dialogue. (Kabodian) Amartya Sen, a scholar who was awarded Nobel Prize in Economics for establishing links between economy and ethics, states that economic strategies and methodologies are to be estimated in terms of their influence on the ability of individuals to function successfully in the society they belong to. This author points out that individuals should be treated as the agents of morality, possessing such features as responsibility, ability and freedom. The purpose, as defined by this author, is to view economic sphere and all other aspects of life through the scope of moral perspective. He adds the following remark on this topic: "What matters, finally, is how we see each other." (qtd in Hicks) It is not a secret that people are regarded and treated as customers within contemporary society. This concerns not only the sphere of consumption, but many other spheres of life, even those that are far from economy and finance. As Maier states, "In the business sector itself, "customer service," "customer satisfaction," and "customer loyalty" have become watchwords for marketing and strategic growth practices. From their market-based home, these concepts have seeped into other sectors". That is why understanding and evaluating the concept "customer is always right"

Short answer paragraphs Assignment Example | Topics and Well Written Essays - 250 words

Short answer paragraphs - Assignment Example Most Americans cannot afford the insurance coverage because the health care costs are high. The result is many Americans survive without the needed care that puts them at risks of various health problems. Costs for health rise as the needed treatment costs are above what would have been used to prevent the problem (Cebul 2008). A Health indicator is a characteristic that can be measured in an individual so as describe an aspect of health. Body mass index compares the weight, relative to height and age, against the measures of a healthy weight. It helps decide if interventions are needed. It refers to how societies compensate for the health care. The different options depend on the resources devoted on to them that eventually determine the amount and quality of care given to people. Some options may provide for the most advanced care while others compensate for basic care only. Medicaid is a government funded program that provides health care for low income families and those with limited resources. Those eligible to be beneficiaries can be children with disabilities, pregnant women, or parents of eligible women. Individuals in difficult conditions i.e. disabled and poor, have all their entire problems taken care of. For better services in future, beneficiaries can be asked to contribute back some share later in life when they have the capability (Cebul 2008). Increased costs of health care are due to the excess use of medical resources by patients and high costs associated charged by medics for fear of malpractice suits. The patients should be asked to take charge of their medical purchasing options. The health care system is unsuccessful because insurance dulls peoples’ consumer instincts. When medical care tends to be cheap or free, people do not shop around for other options. People do not also think otherwise before visiting the

(HRM)Globalisation Essay Example | Topics and Well Written Essays - 500 words

(HRM)Globalisation - Essay Example It is recognized through a number of trends such as growing economic integration and liberalization; trade deregulation; convergence of macroeconomic policies; modification of the role and concept of nation state; proliferation of supranational agreements and regulatory bodies; and globalization of information systems 1." Upon looking into the given premise, one might have the idea that the said practice has its positive and negative effects. In this case, if some countries oppose this kind of practice definitely anticipate is negative effects. So, what are these negative effects that they seem to oppose this kind of practice Vandana Shivea (2006) 2, an Indian ecofeminist and scholar, once stated that "globalization along with the support of organizations such as the World Bank and the International Monetary Fund, have created a term more often known as "slave wages". These kinds of wages are not necessarily the result of "unjust" societies, but of the fact that global trade devalues the worth of people's lives and work. While globalization has brought jobs to rural, developing areas such as India where there was previously no employment, these jobs seem to be wolves in sheep's clothing.

Interpretive exercise Assignment Example | Topics and Well Written Essays - 1000 words

Interpretive exercise - Assignment Example There are several different ways that the word is translated. It can be translated meaning benefit or bounty—as when someone prays, etc. Grace can be an expression of thanks—whether for benefits, services, or favors. Grace can also mean some type of recompense or reward for having done a very good job. Another way in which grace could be used would be to talk about the actual token or proof or benefit that grace provides. Of course, grace could also mean the spiritual condition in which one finds oneself where one is guided by the power of divine grace. Grace can also mean those things which are they themselves due to grace having been part of their lives. Grace is also known as an exercising of the Christian virtues. Grace keeps one. Grace strengthens one. Grace is supposed to increase us in the Christian faith; grace is supposed to undergird our knowledge and inform our affections, kindling us to do good works. Of course, in this passage to the Ephesians, Paul is maki ng an exhortation that we not only take the grace that has been bestowed upon us by Christ, but this is a call to action helping everyone realize that we are not to take that grace for granted as Christians. Grace affords us joy. It gives us pleasing moments and moments of delight, sweetness, loveliness, and of course charm. The way Christians act should be undergirded by graceful speech, with goodwill, lovingkindness, and a favor that we can extend to others by simply making a pathway to lead a gracious life, thankful for all that we have and all that we are and all that we do. Matching Up Meanings and Translations The question could then be raised, â€Å"Does the author’s argument in the book suggest a meaning?†2 For, living the Christian life is not just about being a poser saying that one loves Jesus. Because, ultimately, it is not merely enough to declare that one has been absolved of all sins and then go out and do whatever one wants. One must live a life that is pleasing to God in any and all aspects of our lives. Next we had to match up these meanings and translations with the Scripture verses in which each appears. It was quite extensive, but basically we saw the same pattern reoccurring over and over again. It has been said that mercy is not getting something you deserve, while grace is getting something that you don’t deserve. It’s important to know the difference. As has been aforementioned, there are a great wide variety of meanings that have come to be associated with what grace is—as well as what grace is not. â€Å"By faith are ye saved by grace† is one of the calling cards of the New Testament in Ephesians 2:8a, from the King James Version. Grace comes from the Greek root â€Å"charis,† and lends itself to the word charity, which does not just mean handouts being given to a bum out on the street—but charis is also the root word for charity, which also can mean â€Å"love.† Colossia ns 3:16 in the King James Version also states, â€Å"Let the word of Christ dwell in you richly in all wisdom; teaching and admonishing one another in psalms and hymns and spiritual songs, singing with grace in your hearts to the Lord.†3 In this case, grace most definitely appears to mean ‘love.’ But, as it may come as no surprise that Paul also wrote this Letter to the Colossians, he is definitely

Leadership Essay Example | Topics and Well Written Essays - 250 words - 63

Leadership - Essay Example ccording to Zenger and Folkman, the plan action method works when our leadership performances are not encouraging, hence we ought to apply the action plan method to the issue and try to improve our performances. The approach to change the plans suggested by Zenger and Folkman is also known as the Linear Development Model. This model gives the current performance which determines the performance we desire in the future. The future performance gives our customers and those we lead the confidence in our profession and organizations. (Zenger and Folkman, 2009, p. 196) Secondly, we are educated on how we can approach development. The plans used in this case are the linear plans. The book focuses on helping leaders to change from poor performance to better one. The linear plan is a unique perspective that helps us to change and develop our leadership skills for better performance in the organization. However, Zenger and Folkman hit a warning to us trying to apply exceptional changes on explicit competences. This might hinder our leadership improvement as they say (Zenger and Folkman, 2009, p.217). In conclusion, the above plans suggested by Zenger and Folkman, might be effective and useful perspectives in improving our leadership skills. If well applied, the linear plan and the action plan new insights and approaches to better leadership skills which definitely improve the performance of the

Finance and Company Essay Example for Free

Finance and Company Essay So Wrigley has to make decisions on whether or not to borrow $ 3 billion for recapitalization. Question Based on the above situation, there are few questions that arise as seen below: ? Whether the recapitalization would be good for the company’s development in the long run? ?After borrowing $ 3 billion dollars what would the impact on the company’s debt rating be? ?What’s the impact on the company’s share value; would the recapitalization increase the company’s share value? ?What’s the impact on the company’s WACC, an increase or decrease? Would recapitalization increases the EPS of the company? Hypothesis Before capital restructuring due to not having any debt, return on capital and operating income as a percent of sales can be used based on exhibit 2(it is $513,356/$2,429,646= 21%) which is the A to AA range of investment grade. After recapitalization, the company’s debt rating will fall to a BB/B rating which reflects a higher risk and lower debt rating that will cause higher yields. According to Exhibit 7’s given information, the yield is between BB (12. 753) to B (14. 663) to obtain a cost of debt. Impact on share value If the company chooses to repurchase the stock, the WD will be 22. 89% (3,000,000/13,103,000), the WACC will be 10. 19% (22. 89% (1-40%)*13%+77. 1%*10. 9%). Both 10. 32% and 10. 19% are lower than the WACC before recapitalization, which indicates that after the recapitalization the company will have a lower minimum rate of return for the company that it needs to earn on its investments to maintain its wealth. Impact on Voting Control If the company is using the dividend plan to do capital restructuring, there will not be any impact on voting control. However, if the company is using the stock repurchase plan, it will have an influence on the voting control. The current Wrigley family ownership includes 21% of common shares and 58% of B shares. The total numbers of shares outstanding for Wrigley consists of the sum of the common shares of 189. 8 million and class B shares of 42. 641 million (10 votes each), a total of 232,441 million shares. So the company will have 46. 6% ((189. 8*21%+426. 41*58%)/616. 21=46. 6%)voting control before recapitalization. After the recapitalization the voting control will increase to 49% [(179. 22-42. 641)*21%+426. 41*58%]/ (136. 58+426. 41) =49 Based on the above analysis, my suggestion is not to borrow $ 3 billion dollars, or if the company insists in doing a recapitalization I would suggest for them to not borrow as much and to make some investment on assets instead of it all in equity. For the Wrigley Company I think they should keep their debt below 50 percent. Because after recapitalization, it will have negative impacts on EPS, debt rating, share value and it has a slightly positive impact on WACC and voting control. The results of impact on EPS analysis shows that EPS will drop from $ 1. 61 to 0. 46 and, the debt/ assets ratio will be 169% which will increase the company’s risks. From a debt rating aspect, after borrowing $ 3 billion dollars, the debt rating of the company will decline from AA/A to BB/B which means that the company will have a higher interest rate, more interest expense and a lower credit rating in the future. This is not good for the company’s future development. From a long term prospective, I believe it’s important that the company be careful in determining whether they should pursue a dividend or stock repurchase strategy. If the company chooses to use the $ 3 billion to pay dividends now, it might increase the investor’s satisfaction in the short run but once the dividend has been paid, the investor will expect the same amount of dividend in the future and a lower dividend might disappoint investors and that might affect the company’s stock price in the future. The stock repurchase is temporary as well, so after the repurchase the ending stock price might drop and it may hurt a potential new investor who made a purchase during the repurchase period. All things considered as long as Wrigley keeps an eye on their long term goals and continues to look at the big picture whilst making good solid financial choices for their company they should be most successful.

Example Essay on CHANGE MANAGEMENT

Example Essay on CHANGE MANAGEMENT Q) What are the strengths and weakness of Kotters 8-stage model, Lewins Planned Change Model, and the Positivist Model? Change management is a planned process for changing a core function or organization of an enterprise. Interestingly, the process of developing taxonomy can result in the need for change. See Quality Assurance (www.twason.com/glossary.html) Change management is important in every project and this change management will help the project to be successful in any business or organization. There are three models which help change management to be successful in an organization or business and further help them to handle them carefully. The three models which explain about the change in an organization are: Lewins model. Kotters 8-stage model. Positive model. Lewins model There three steps of change management in the Lewins model. Unfreezing. Change. Refreezing Unfreezing is a starting process in an organization in which we determine the need of the change, understand and explain why the change is going on and communicate the vision in order to handle change in an organization. In this starting stage of change, the organization should explain the employees why the change is taking place. When this process starts there may be a crisis in the company and the company should balance everything and it is difficult to maintain it among the employees. The second stage is Change and this is a process in which the employee tries to look forward for new ways to do their work and try to accept the new change. This entire change cannot be done overnight and this is a long process. The third stage is Refreeze which helps to re-shape the organization and employees and also find new ways to work in the organization and it also help the organization to gain a change in every- day business life. There should be benefits to the employees who are trying to find new ways to work and the feedback should be taken from the employees regarding the change in the company. Strengths and Weaknesses of lewins model are. The main strength of the lewins model can be specified as easiest and simplest model to implement in any organization. It also helps employees to face new problems and to overcome those. When the change is taken place, the communication between every individual will increase and they work in teams in order to overcome the problems. The weaknesses of this model lead to the crisis in the company and the entire change cannot be done overnight and there may be lot of confusion in the employees and they need to find new ways to do their work. The weaknesses of this model are not in detail. Kotters 8- stage model The 8- stages of kotters model are Create urgency. Form a powerful coalition. Create a vision for change. Communicate the vision. Remove obstacles. Create short-term wins. Building on the change. Anchor the changes in corporate culture. These are 8-stages of kotters stage model. The first stage of kotters helps the organization to find out the changes to be taken place in the organization and helps to find the threats and defaults in the company and also rectify them and this stage shows the opportunities to overcome these. Finally this stage helps the organization in becoming strong. In the second stage, form a powerful coalition which helps to build teams or groups to lead the changes in the organization and also helps to encourage the teams. The third stage creates a vision of change. That is to Create a vision to help direct the change effort (MINDTOOLS, 2006). This also helps to develop the strategies for achieving the goals. The fourth stage is communicating the vision. This stage shows how to communicate the new strategies and new ways to every individual in the organization. The fifth stage is removing obstacles. This stage shows how to remove the obstacles when changes take place and helps to Change systems or structures that seriously undermine the vision. (MINDTOOLS, 2006). The sixth stage shows the Plan for visible performance improvements and creates those improvements (MINDTOOLS, 2006). There should be rewards and benefits to the employees who perform well in the organization. The seventh stage is same as the Change in lewins model. The eighth stage is same as the Refreezing in the lewins model. Strengths and weaknesses of the kotters 8-stages are Strengths: The strengths of the kotters 8-stage is model is very simplistic and easy to understand rather than lewins model. The strength of this model is, it can easily identify the problem and it also helps to clear the problem in very short period. This can be successful when all the employees are communicated well in all the stages. Weaknesses The major weakness of this model is that it may lead to wrong assumptions. Another weakness of this model is, the model itself. This model is not flexible once this model starts its process than it is difficult to change its way. This model is difficult to communicate to the employees and which may lead to frustration among the employees to find the new ways to handle the change occurring in the organization. POSITIVE MODEL Change models are not only having high success in implementing but also have the failures equally. They also have the negativism in planning their organizational change. The positive model helps to criticize the negativism in the organizational planning. This positive model also guides the organization whether it is going in a right way or not and helps the organization to develop. There are 5 stages in this positive model. (Thomas G. Cummings, Christopher G. Worley, 2009) Initiate the inquiry: In this phase the organization team finds out the issue which is going to be change in the organization. (Thomas G. Cummings, Christopher G. Worley, 2009) Inquire the best practices: In this phase the organization team gathers the information about which is the best policy to implement the change. The organization team members collect the information from every individual of the organization and choose the best one to do. (Thomas G. Cummings, Christopher G. Worley, 2009) Discover the themes: In this phase they gather information and stories from each and every employee about their experience this is done by interviews and meetings. This kind of information helps the organization to overcome all the obstacles. (Thomas G. Cummings, Christopher G. Worley, 2009) Envision a preferred future: In this phase the gathered information from the employees is taken into consideration and then the organization support these ideas into the program. (Thomas G. Cummings, Christopher G. Worley, 2009) Design and deliver to create the future: In this phase, the design and deliver for the future is processed. In this phase, slight changes can be made in order to achieve the goals of the organization. (Thomas G. Cummings, Christopher G. Worley, 2009) Strengths and weaknesses of the positive model: Strengths: The strength of this model is, it helps to find out the negativism in the organization when the change is taken place. The employee satisfaction is taken as a main theme in this model. This model is flexible and slight changes can be done during this process. Weaknesses: The weakness of this model is that it will not create urgency in the change process. There may be conflicts between the employees in decision making. There is no specialty in this model. It is same as the remaining models. Conclusion I finally conclude that all the models have their own strengths and weaknesses. The lewins model is the easiest model but it is not explained in detail and it is complicated. Positive model is same as the remaining models and it is slightly different when compared to remaining models. I strongly recommend that kotters 8-stage model is the best model among all the change models as it is explained in detail and it is flexible in changing process and the communication between the employees when compared with the other models. So I finally conclude that, though all are the best models according to my research, but I strongly say that kotters 8-stage model is the best model.