Financial Report Analysis of Goodrington Plc Essay

Financial Report Analysis of Goodrington Plc - Essay Example INTRODUCTION Company Background Goodrington group plc belong to fashion retailing industry in the United Kingdom. It comprises three popular brands of retailing in the country that are Goodrington, Newton, and Churston. These three bands provide several retail products to different target groups of the consumers in United Kingdom. Activities Goodrington caters to customers ranging from the young-to-middle aged consumers by providing different items such fashion clothing, footwear and home ware. Newton has its own target market catering to the female consumers aged 45 and over by selling clothing items to them. Churston caters to the consumers with an instinct for fine fragrances and perfumes. It attracts its target consumers with the help of brightly lit and decorated store interior that is highly appealing to the people with artistic sense. Significant Changes The most significant change concerning the company's operations as reflected in the company's annual report is the acquisition of subsidiary costing the company 4,350,000 in the year 2005. ANALYSIS Profitability 2005 2004 Gross Profit Ratio 20.25% 20.56% Net Profit Ratio 5.99% 6.61% Gross Profit Ratio The Gross Profit ratio analyses the company's profit margin before accounting for various operating costs (Mcmenamin Jim, 1999). The gross profit ratio for Goodrington plc shows that the company is earning about 20% out of the total sales revenue after having accounted for the cost of sales. This also shows that the company loses almost 80% of the total sales revenue on production and distribution expenses. The company's gross profit ratio has been stable over the last two years. Net Profit Ratio The net profit ratio analyses a...This paper utilises only books for the purpose of formulas and interpretation of the given ratios. Goodrington group plc belong to fashion retailing industry in the United Kingdom. It comprises three popular brands of retailing in the country that are Goodrington, Newton, and Churston. These three bands provide several retail products to different target groups of the consumers in United Kingdom. Churston caters to the consumers with an instinct for fine fragrances and perfumes. It attracts its target consumers with the help of brightly lit and decorated store interior that is highly appealing to the people with artistic sense. The Gross Profit ratio analyses the company's profit margin before accounting for various operating costs (Mcmenamin Jim, 1999). The gross profit ratio for Goodrington plc shows that the company is earning about 20% out of the total sales revenue after having accounted for the cost of sales. This also shows that the company loses almost 80% of the total sales revenue on production and distribution expenses. The company's gross profit ratio has been stable over the last two years. The net profit ratio analyses a company's profitability after taking into account all the operating costs and interest expense etc (Mcmenamin Jim, 1999)

No topic Essay Example | Topics and Well Written Essays - 500 words - 5

No topic - Essay Example Further, John is found to have a good knowledge of the issue of locally grown and ecologically grown products. In the case of the former, he explains his concerns over the use of pesticides in products that are locally produced and also tries to compare it with the latter in terms of a number of issues such as refrigeration, pesticide use, irradiation, antibiotics etc. further, his extensive use of results from various research studies clearly highlights the depth of knowledge and insight that the writer possess in the subject. John starts the discussion with the simple expression – ‘who wants to pesticide residue?’. By doing so, he has also taken into account the issue of resources such as oil and also the time gap between production and supply to the department store. The central point of the discussion does however not limit itself to the issue of pesticides alone. Additionally, it also tries to convince the user that another aspect that consumers look for when buying the product is the value for ‘taste’. John has clearly put forward his findings of food being ecologically rich but deprived of essential taste on account of being refrigerated and transported across long distances. John has further appealed to the audience to not judge ecologically grown products on the basis of the process that they undergo during production, but to also think move ahead from thinking from a consumer perspective to a more closer look from the health aspect. He argues that despite the high preference for the way products are grown, it is also important to consider its freshness and the extent to which it works well for the body upon consumption. John has clearly pointed out the difficult position faced by huge departmental chains such as Wal-Mart that has been facing a backlash since its decision to offer a higher proportion of organic products. John uses the information obtained from several researchers such as Joan

The Founding Of The Vanity Fair Brand

The Founding Of The Vanity Fair Brand Founded in 1899, Vanity Fair (VF), the worlds largest publicly owned apparel company, offers various products such as jeans, bags, sportswear, footwear and outerwear. It operates mainly in the US and Europe, but also in developing countries like India, Russia and China. In the last decade, VF made some acquisitions including The North Face, Napapijri, Nautica and Vans. Five major coalitions consist of multiple brands a total of 700 brand stores in 2009 leading the Growth Plan strategy. The company recorded, in 2008, $7,561,621 of revenues. VF brands are attempting to establish close relationships with its suppliers to reduce production costs, respond to changes in other cost factors, and shorten the lead time that occurs with the traditional suppliers. Also, Fraser, the President of the Supply Chain International for VF brands, is concerned that the companys current supply chain strategies will not satisfy the future demand that will occur in the Asia-Pacific areas. In this paper, we will analyze four alternatives that VF brands can execute for its global expansion into the Asian markets. Those 4 alternatives are as follow; (1) To abandon the Third Way; (2) To continue with the current supply chain strategies; (3) To pick the best method for each coalition and products categories; and (4) Gradually switching to Third Way altogether in the end. Based on our analyses of the 4 alternatives and the apparel industry, we will suggest the best solution that will satisfy the new demand and help the other areas to become more e fficient and effective in the future. SWOT ANALYSIS Strengths Since the company was established more than a century ago, it was able to develop certain competencies in various areas and a good reputation. One of them is the strong performance in its internal plants, and the know-how and expertise involved. All these led to VFs own sustainable competitive advantages. In addition, the company built a technical know-how and engineering capabilities, which are very difficult to imitate. The rapid production at the internal plants and its supply chain are very valuable. Moreover, a large number of suppliers and the experience gained accumulated over time give VF a considerable and reliable network. Also, during the various acquisitions, VF preserved the unique organizational cultures and brand identities to keep the design groups intact. Every brand has then a strong personality that can be managed and developed individually, giving more diversity. Besides, the financial situation of VF is strong with a low level of debts and a high cash position th at can help them in case of tough economic situations and give them more flexibility to respond accordingly. Weaknesses When operating such a big and diversified company, some difficulties may occur. The first one is the lack of coordination and trust among suppliers and the company. A bullwhip effect may be observed due to the lack of inventories. Also, the supply chain is often illogical and highly fragmented due to various outsourcing locations. Certain dependence may be caused by some suppliers, making it very costly (ex: Nicaragua). Thus, building a reliable supplier network is very expensive. VF has a sheer complexity of its product line, leading to different needs and priorities among its numerous brands. The diversity of ideas between coalitions and directors causes some problems in the decision-making as well. Low costs pressuring for outsourcing can lead to quality matters and lack of control. Additionally, not much differentiation can be made in terms of supplying and transportation. Opportunities As the apparel industry is changing at a very rapid rate, innovative companies can see various opportunities. The supply chain management is a very first change in the companys structural changes; then the Third Way is described as an opportunity to gain another competitive advantage, going forward. Partnerships can be developed in a long term vision. Moreover, the expansion of sales in developing countries represents a huge growth opportunity. Asian markets seem like a favourable location for new stores. Also, the development of new line products at a broad range of price can be designed at any time to satisfy a new market segment. Fashion is seen differently around the world, thus, various strategies are used to fulfill each need. Future acquisitions can also contribute to the growth of VF. Threats Apparel industry is very much affected by economic situations. In times of crisis, too much dependence on some suppliers might be fatal; especially that competition is very hard and intense with brands competing directly. Continuous investment must be made, essentially in marketing to maintain margins. Plus, the growing bargaining power of mass retailing chains put pressure to lower the price at all time. Also, the frequent changes in tariffs and quotas make outsourcing unsure sometimes, making the research for suppliers challenging. Agile supply chain and vf brands The third way seems to be a new way to deal with suppliers and with a supply chain in general. However, third way could be seen as an agile supply chain in many aspects. In the next section, we will discuss what are an agile supply chain, the differences between lean supply chain and hybrid supply chain, and the link with VF Brands third Way. This part will give basic information that will be useful for our recommendations. VF BRANDS and THE AGILE SUPPLY CHAIN In a turbulent and volatile world, the only thing that does not change is change by itself . Basically, companies compete at several competitive dimensions like cost, delivery time, quality and flexibility. However, todays intensely competitive market is more and more defined by an instability and unpredictability of demand that represent the new challenges organizations face. For many reasons, the product and technology life cycles are shortening, forcing more frequent product changes in addition to new competitive pressure. Now, companies look beyond cost and quality advantages. Speed to market, speed to delivery and flexibility are being emphasized as a way to be more reactive to the needs of customers. However, more than speed, companies require a high level of maneuverability, or in other words, a high level of agility. What is an Agile Organization? Agility is a business-wide capability that embraces an organizational structure, information and systems, logistics processes, and in particular, mindsets. The key to success of an agile business is speed and flexibility. Agile organizations are market-driven, with more product research, and short development and introduction cycles. An agile organization can be defined as an organization capable to cope with unexpected challenges, to survive unprecedented threats of business environment and to take advantage of changes as opportunities. This kind of organization must be a fast moving, adaptable, robust business able to achieve a competitive advantage in a very instable environment. The basic way to define agility is the ability to quickly match supply, however, it is important to explain that agile is not a synonymous of leanness. Indeed, lean can be seen as doing more with less by implementing a lean manufacturing (Porsche Consulting) with zero inventory or Minimum Reasonable Inventory (MRI) and just in time approach. However, lean manufacturing system does not often mean flexible manufacturing system. A lean manufacturing system can result on less waste and high efficiency, but sometimes with important inventory. Finally, a company with a lean chain of supply can make their consumers wait a longer time to receive their products. We can illustrate that with the automotive industry and more specifically with the Toyota Production System. Indeed Toyota production system can be seen as lean, but that does not mean that consumers do not have to wait, often during months, to have the car of their choice. Therefore, Lean approach works best in high volume, low varie ty, and predictable environment. Whereas, Agility is needed in less predictable environment where demand is volatile and the requirement for variety is high. The Agile Supply Chains and Characteristics All organizations have supply chains of varying degrees, depending upon the size of the organization, the depth and scope of international outsourcing, the type of product manufactured, and the international production network. A supply chain describes the series of linked activities creating a process that changes supplies and components into finished products that will be distributed to customers. The agility of a Supply Chain is a measure of how well the relationship involved in the process enhances four pivotal objectives of agile manufacturing: Customer sensitivity, Virtual integration, Process Integration, and Network integration. First, all the agile supply must have the capacity to understand and respond to real demand quickly, in other words, the supply chain must be customer sensitive. The organization must be able to make forecast based upon past sales or shipment demand and convert these forecasts into inventory. For instance, the main challenge for companies is to be able to hear the voices of the market by receiving Efficient Response from customer (ECR) using information and technology to capture data on demand directly from point-of-sale and point of use. The organization must use information and technology to share data between buyers and suppliers creating a supply chain based on information rather than inventory, basically, create a Virtual Supply Chain. Sharing information using information and system (for example EDI) with our partner will create a collaborative work environment (process integration) that can be illustrated by joint product development and process improvement between buyer and s uppliers. Integrated your process offer the potential for major performance gain. This form of co-operation in supply chain is more and more important as many companies focus on their core competencies and outsource all other activities. Partnerships between buyer and supplier are inevitable to achieve an agile supply chain. To this extent, integration can mean the combination of sell through data, exchange of inventory status information, order coordination, open-book accounting, buyer supplier team, share information about the future products, and change in manufacturing process need to be changed as well as simplified pricing schemes . Figure 1 Dimension of Supply Chain Agility Supply chain agility can be discussed in terms of two dimensions of reach and range of activities covered by networking amongst companies (13;8). The figure shows this two-dimensional framework. On the vertical axis, there is the reach from Personal Division to Global. When, in the horizontal axis, there is the Range of activities from the basic way to send a message (EMAIL for instance) to Internet integration. This figure shows three steps from Bill of Material through Purchasing efficiency with electronic commerce, Supplier coaching, and Relational Database to the top level of planning, and control with Demand Planning, and Capacity Planning, and so on. To achieve agility on the Supply Chain, an organization must go through these steps and access the highest level with planning and control. In fact, the company must achieve the highest level on Reach (Global) and on Range (Integration). Indeed, on the last step, internal operations will be transparent to suppliers and customers. T his transparency allows cross companys team to work. Local teams are able to think globally and discuss the process and requirement without restriction without major problems of communication. Any change, modification, and new project can be implemented quickly, efficiently, and easily without creating high cost, or affecting quality of the output. (Figure 2) Another study, by Vankatranan and Handerson, implemented these three steps in addition with three inter-dependent dimensions of the supply chain (customer interaction, asset configuration, Knowledge Leverage). In fact, these three stages can be implemented to evaluate progress on each dimension of the supply chain and see how well integrated and agile it is. (Figure 3) Hybrid Strategy, another Solution Lean and agile supply chain are two concepts focusing on two different issues. Lean initiative is said to focus on cost and quality and impacts on flexibility and times based technology leadership objective (e.g. TPS), whereas, agile supply chain influence costs and time based technology leadership. However, companies often need to keep in mind cost quality as well as flexibility and technology leadership at the same time. A combination of the two approaches could be appropriate to create a hybrid strategy. Hybrid Supply Chain focuses on the fact that characteristics of demand must be taken into consideration when designing the supply chain. Within a mixed portfolio of product and markets, there could be some products with stable demand and some other with unpredictable demand that is why a supply does not have to be totally agile of lean. For instance, the Supply Chain of the fashion apparel, Zara, could be shown as a agile supply chain with some lean characteristic in order to have the most effective quick-response system in its industry. Indeed Zara is able to quickly understand trends, producing some items with low flexible demand in low cost country (low cost, long time delivery, and so on), but at the same time they are able to be produced quickly in response in Spanish high-automated and very efficient factories that allow quick production, shorter time to delivery in point of sale, lower risk, and more flexibility. We can discuss another case, IKEA. IKEA deals with many suppliers mostly in European Union (more than 50%) and 20% in China. Two ideas must be underlined; Ikea usually implement long-term relationship with strong partnership with its suppliers, however, these partners must respect very strict norms created by IKEA itself. IKEA can help is suppliers (by financings machines, increasing the efficiency of the supply chain, and on) that make these supplier very efficient and very dependent to the buyer. To this point of view, IKEA supply chain can be seen as an agile Supply Chain, however, Ikea produce many products in Asia (China), but these products have a more stable demand trend. VF BRAND and The Third Way: Implementation of an Agile Supply Chain? Vanity Fair brands were used to deal with their own very efficient factories located closed to the companys main market, the US. However, the group decided to extend globally by buying other brands where the policies were sometimes to totally outsource the production. VF brands needed to deal with a very complicated supply chain, very decentralized design, and so on; a kind of mix between traditional sourcing and outsourcing, for some aspect similar to ZARA. However, just chasing low cost and building its own factories are not seen as a long-term solution for Chris Fraser, President Supply Chain international for VF Brand. At the same time, some of the inefficiency was due to lack of coordination and lack of trust between apparel companies and suppliers. A new solution was adopted, the third way. Third way means that VF should focus on supplier network. Suppliers and VF brand would work together. Suppliers would own their factories, but VF brand will help them for free using their ow n resources in engineering and management forces as well as with their purchasing power to procure fabric and other raw materials -resources previously used in their own factories. This solution looks like IKEAs solution, however, Ikea focused on a network of suppliers geographically near its location which is not the case for VF Brand that have to deal with low cost countries regulation and particularities and many brands in order to achieve its agile supply chain. The results are not very good for the moment: difficulties to convince shareholders that sharing resources with outsourced suppliers is a good solution, and as well as difficulty linking with the country where products are supplied; which probably is the reasons why. As a conclusion, results from studies like shows that only a few companies have adopted agile supply chain practices. However, most companies have created long term collaboration with suppliers as well as customers; it can be seen as lean Supply chain or hybrid strategy. Indeed study suggests that lean supply chain has a higher level of impact on competitive objectives in contrast to agile supply chain. Nevertheless, this result would probably be discussed within a few years as it will take some time before current companies investments and research effort on agile supply chain lead to more concrete and enjoyable results on competitive outcome compared to lean supply chain. Lets see what VF Brand can achieve if it pursue this third way. ALTERNATIVES Alternative 1 Abandon the Third Way go back to the old way The Third Way could potentially cause many difficulties for VF, hence abandoning this way before investing too much money is a possible alternative. Firstly, you maintain the flexibility to change volumes or to change to a supplier who is offering a lower price. You are also independent from the suppliers problems, for instance if you are not satisfied with the quality of the product, you can simply switch to a different supplier. Following the old way, you do not need to spend money and time until the problem is fixed. Secondly, it is tough to find suppliers willing to form a partnership with the given conditions. To agree to not supply the same category of products to competitors anytime in the future is a huge barrier for a supplier and drags him into dependence on VF. Since the price paid is vague at the establishment of the relationship, the supplier faces the risk to be exploited. The fact that one of the test Third Way suppliers could not manage to survive financially is a hint that the relationship might not work out for suppliers. In Addition, VFs existing suppliers were carefully selected and since they were not interested in a closer relationship. Thus, VF needs to establish the Third Way with unknown companies, a great risk if you are concerning the trust needed. Thirdly, there is still the possibility that VFs knowledge leaks out to competitors. The technology you provide your supplier is not necessarily limited to a specific category of product, but you relationship might be. In this case, the technology could be used by competitors if they buy products of a different kind from that supplier. Since VF is not the owner of the supplier, it is also harder to control the knowledge leaking. For example, an employee may change to a competitors supplier. Fraser and Green called VFs technical capabilities a trump card, therefore it should be highly protected and not being risked. Another point is that the problem of switching costs is also an issue. To establish a Third-Way-relationship VF has to invest money to transfer their knowledge to the supplier. Since the latter is not losing any money in case of termination of the contract, the chance for dropping out is higher. Regardless whether the supplier drops out or is closing down for some reasons, it takes a long time until a new relationship is established, so VF might face severe supply difficulties. Lastly, in a study there was no significant relation between strategic sourcing and gaining competitive advantage. Therefore, the effort spent on the Third Way might not return the expected results. On the other hand, the same study showed that strategic sourcing (and therefore the Third Way) has a positive influence on business performance. A close relationship is also speeding up goods entry. Also keep in mind that the total costs for a five pocket jeans were the lowest of all three ways. Alternative 2 Continue the current supply chain strategies Another alternative strategy for the situation which Vanity Fair brands are facing could be to keep working on the current strategy. As explained in the article and supported by its strong financial performance compared to its competitors, the company has maintain its competitive position in the apparel industry. VF brands have been well established through a series of successful mergers and acquisitions of different brands, products, and styles. In the course of these acquisitions, the company was able to gain huge competitive advantages from operating its own manufacturing plants and traditional outsourcing, simultaneously. This combined strategy allowed the company to juggle between based on the geographic markets, demands, different products and coalitions. Frasers Third Way strategy seems very attractive for VF going forward. Many of the challenges the company faces are due to production inefficiency and supplier relationship based on little or no trust. Fraser and VF brands are at a crucial stage to decide which means to carry on international expansion goals in the future. Despite many benefits of the Third Way, the company must examine if this supply chain strategy is a strong fit for Asian markets. As mentioned previously, there is no doubt that a combination of full integration and traditional sourcing is a VF brands strength. Internal manufacturing sites are able to produce high quality products more efficiently and reliably compared to not only its competitors but also its outsourcing suppliers. The significantly reduced production time is a great strength with respect to the products that experiences a high inventory turnover rate. Another advantage arises in unexpected crisis such as the global economic downturn in 2008-2009. If the company operated solely based on outsourcing, it would have been very difficult to survive due to the shutdown of small shops and short notice of their discontinuation. On the other hand, outsourcing for certain coalitions or products due to the nature of its operations is inevitable. Cut and make (CM) contracts allowed the company to oversee cost drivers at each stage, mostly for heritage lines supplied in Central American and Caribbean. Full package sourcing was mainly used for the lifestyle brands in Asia, Europe, and Northern Africa. Outsourcing strategy provides VF brands with more flexibility when dealing with different suppliers across different geographic regions, especially with regards to tariffs and quotas. While the Third Way has many benefits going forward, this strategy also involves a high risk and costs associated, more so if executed without thorough research and examinations. Besides the concerns from different areas of the company itself, the Third Way should be carefully selected and applied to the most suitable product lines. For example, the strategy is most suitable for products that require the steady and regular supply of its inventory with the staffs of a certain level of education. Also these potential suppliers should be willing to build the strategic partnership for a long term. As mentioned before, switching costs are another hindrance. Since it is much easier to persuade new suppliers than existing suppliers, the company needs to thoroughly examine the qualifications of potential suppliers and there is always a risk that the supplier might not meet the standards later on. Rather than expanding globally extensively through the Third Way, Fraser and the company must fi rst identify the strategic fit for certain geographic regions for certain products/coalitions, and then pursue this strategy. A product line which makes up a small volume or not much techniques or skills should rather be outsourced. Alternative 3: Hybrid Supply Chain VF Corporation world headquarters is located in Greesboro, North Carolina where the senior management team is based, along with the corporate strategy, Finance, Global Business Technology, Law, Human resources and finally, Global Supply Chain. VF Brand Business model focuses on supporting the individuality of lifestyle of each VF Brand and has to deal with each headquarter. Indeed, each Brand has its own headquarter and focuses on its own consumers and customers.(1) However, VF Brands had divided the globe into 4 areas: US Region, Americas, EMEA (Europe, Middle East, Africa), Asia-Pacific. VF Corporation has a specific strategy for each region even some brands are in different regions and are often global. Each brand has specific suppliers that can deliver globally and deal with the headquarter of this specific brand (not with VF Corporation). However, different brands in different regions might need the same supplier for almost the same product. For instance, two brands may need the cheapest supplier as possible for a specific type of product that can accept a long lead time whereas some other products may need a short lead time as the demand trend could fluctuate a lot. The next recommendation could be for VF Brand to have a more original and customized production and purchasing strategy. The basic idea is to create more coherence between where suppliers are based and where products are distributed. Lets take backpacks for example. Backpacks are needed for many companies inside the group, however the demand for backpacks is not fluctuating a lot and the demand is often lower for a backpacks than for jeans or a shirts or t-shirt. This implies that these backpacks could be produced in Asia with lower prices and longer lead time with classic suppliers. However, Jeans for the US market could be manufactured in Mexico in highly automated factories owned by VF Brand, and shipped quickly to the US. Manufacturing these Jeans in Mexico allowed shorter lead times and flexibility depending on fashion trend and thus, demand. The idea is to base suppliers where it is more significant for distribution. If goods are produced in Eastern Europe or Asia, these produc ts should be shipped directly from suppliers to a distribution center that will be located near where products will be sold. Indeed, nowadays, many products are produced in Asia and shipped to the US to finally be sold in Asia. This new approach will significantly reduce lead times and cost. Previously, we only talked about regular suppliers and factory owned by VF. However, VF Brands do not own their own factories for instance in the European and Asian markets. The key idea is to implement the third way in this case. Indeed, some products in the Asian or European market could have a very fluctuating demand trend; for these specific products some brand may need suppliers as efficient as VF Brands factories. Choosing specific suppliers and implementing the third way with them could be a good solution. These third way suppliers could produce for different brands of the VF Corp when they want to produce common products for a specific period of time or deal with specific products for different brands of the group. These third way suppliers could act like VF Brands factories; but in this case, close to EMEA (Europe, Middle East and Africa) region or Asia-Pacific region markets. To avoid sending products to other part of the world and then send them back to the original region , regional centers could be created. These centers will received product from normal suppliers (common for all VF Corp Brands) and then send these product to other regional centers, reducing lead time and cost. At the same time, Third Way suppliers will only focus on production for their actual area of the world. VF Brands must act local and think global. However as I will show, VF Brands do not have to think global just with its supply chain. Indeed, as we previously said, some products -like backpacks- are not often a trendy product. These not-so-specific products could have a common base -platform- share between the brands that will allow mass production with the same suppliers-reducing cost by dealing with more significant volumes-. In other words, some products could probably be designed by and for a different brand of the group but with the possibility of customization to differentiate these products. Exhibit 1 shows you an example for 3 areas, (EMEA, USA, ASIA) 1- VF Corporation Website http://www.vfc.com/about/global-presence VF CORP, how to think Globally Alternative 4: Gradually switch to Third Way altogether in the end Another alternative is that VF could gradually change their strategy to Third Way altogether in the end. As mentioned in the given case, VF can achieve more efficiency and long term stability through the Third Way. In our previous alternatives, we mentioned our concerns about the Third Way that it would not succeed. According to this point of view, the Third Way will bring loss of flexibility, leakage of VFs technology to outside and many other losses that will not benefit the company. However, to survive in apparel market of today, it is crucial for a company to satisfy various needs of consumers while supplying products as quickly as possible, which can be achieved by the Third Way. In order to quickly respond to market changes, it is important for VF to have a simplified, efficient production process so that it can immediately act when necessary. By achieving the Third Way, VF can gain two advantages. First, it can bring efficiency to its supply process. Second, it will result in a long term and sustainable supplier relationship. First, by implementing the Third Way, VF can make its supply process more efficient. By providing high technology engineering resources of VF, suppliers of VF can improve its production processes. This will result in cost benefits for VF as it will shorten lead time, and decrease production and inventory cost. Not only that, improving production process and shortening lead time mean VF can act more quickly. It is important for an apparel company to react quickly to changes to satisfy ever changing needs of the fashion market. Second, VF can create a long term and sustainable supplier relationship with its suppliers by following Third Way. As previously mentioned, contract of Third Way includes long term contract with its supplier in producing goods. By having a long term relationship, VF can decrease cost of finding new supplier for every new season. Also, by providing VFs engineering resources to improve the production process for suppliers, VF can gain trust from its suppliers. By building trust with suppliers, VF can minimize the cost of excess inventory and long lead time. Those against the Third Way argue that it will result in low flexibility, technology leakage. However, recent experiments in countries like Bangladesh showed the Third Way suppliers were able to greatly shorten lead time, allowing VF to respond to market more quickly than compared to traditional ways. Also, no leakages of VFs technology were reported. Those against the Third Way argue that the Third Way has many holes and also it is unable to persuade existing suppliers to change into the Third Way and therefore risky and ineffective strategy. However, this is a myopic view of the issue. Such problems are transitional errors that can be dealt with in the long term. Holes that might appear through the Third Way can be revised when such problems are found. Also, the supplier persuasion issue can be dealt by gradually replacing existing suppliers with the Third Way suppliers while continually trying to convert existing suppliers into the Third Way. It is essential for VF in order to sur vive in apparel market to build a supplier relationship that is sustainable and interactive; hence, the Third Way is the answer. RECOMMENDATION The company is currently in a no-return process. It needs to find the best way to satisfy the growing demand all around the world but parti

Tragedy And The Common Man :: essays research papers

In Arthur Miller’s 1949 essay, "Tragedy and the Common Man," Miller began by saying, "In this age few tragedies are written." This particular essay was published in the New York Times, was also the preface that was prepared for "Death of a Salesman" in 1949. Before Miller’s "Death of a Salesman," there was only one type of tragedy—that which fit Aristotle’s definition. For Aristotle, plays of tragedy had to revolve around kings, gods, or people of high class. In these classic tragedies, the diction must be elevated and fitting of the characters.Arthur Miller challenged just about every belief and convention that had previously been accepted about tragic plays, as in Shakespeare’s "Hamlet"—which could be considered the paragon of tragedies. In claiming, "The tragic mode is archaic," Miller explains "that the common man is as apt a subject for tragedy in its highest sense as king s were." This very notion that regular people are just as fit to be main characters in a tragedy as royalty was also applied to the audience’s understanding of a tragic play. If the play was supposed to be about upper-class people, and was spoken in a vernacular that was only known to the high-bred, how were the common people who saw these plays supposed to comprehend their meaning? The only way for this problem to be solved, according to Miller, was to present a character to whom the audience will readily relate. Miller did this by presenting Willy Loman, the main character of "Death of a Salesman," who was a common workingman with a wife and two kids.The reason that there is such an absence of tragedies in this day and age, is that "the turn which modern literature has taken toward the purely psychiatric view of life, or the purely sociological," has been one that creates skepticism. With so much thinking involved, and analyzing, no one can really enjoy a play for what it is—pure entertainment. By constantly trying to figure out a reason for why something happened, the audience can no longer accept tragic action, let alone heroic action. This, along with the societal belief that in order for a protagonist to be recognized as a character he must be faultless, has made tragedy nearly impossible. Every person has his/her faults, even the great Hamlet had his downfall; his ambivalence and indecisiveness brought him down. Just as Willy Loman’s lack of self-esteem and feelings of inadequacy are what destroyed him.

If you could choose a holiday for yourself

The first city I would love to see in India, is Delhi. It is the capital of India and is where most of the historical events take place. There is the Red Fort which is a famous historical monument in Delhi that was built during the last days of the McHugh Empire and the British Era. The Delhi Gate, built by Emperor Shah Johan, Is another must visit tourist attraction. The Gate links the New Delhi City with the old walled city of Delhi. And of course, the Quit Minor cannot be a miss!Besides its vast history, there are many other tourist attractions one just experience in Delhi, like the narrow bazaars of old Delhi which gives a feel like you have wondered somewhere medieval. Deli's local street food is a must try. Deli's chat and Galapagos in the streets of old Delhi, is what would love to relish! The beautiful Tag Mall, in Agar, being one of the 7 wonders and located about three hours away from Delhi, cannot be missed. This is the world's most celebrated monument to love.Almost sixty thousand people a day visit the Tag Mall. It is pink at dawn and dusk, dazzling white at noon and pearly silver by moonlight. Since I am a travel lover and it IS my desire to travel and explore the world, I would first want to travel around India as I am an Indian and this way can learn more about this land which has a rich culture full of history, religion, tradition and of course not to forget the variety of mouth watering cuisines in each state, Delhi and Agar being on top of my must – visit list!

KFC Marketing plan Essay

Executive summary: Kentucky Fried Chicken (KFC) continues to be recognized as an earliest franchising company around the world(Teampaperwarehouse.com,2014,2014). Approximately half of KFC’s worldwide restaurant businesses are owned and operated by independent businessmen and women, KFC franchisees(George L,Paugh III). Today KFC is the leading fast food chain and has been successful in creating a renowned international reputation. Since 1960 KFC has targeted many foreign markets and is able to expand in multiple continents in which they have initiated a new challenge in conquering Asia. It has served in more than 80 countries and 25 percent of its restaurants are operated and run by the Company. The report is based on information from range of data sources, including newspapers, magazines, company reports, books and academic journals. Introduction Swot Analysis helps to know a firm where they are lacking behind and what Internal and External factors they are or can face in future.By taking the time to conduct this analysis you will gain a fresh prespective on what KFC offers, what obstacles KFC face, what competitive challenges it have to overcome, and what barriers to growth exist now or might exist going forward. KFC has been an established business but it can also face some problems which SWOT Analysis helps firms to recover. KFC operates in 74 countries and territories throughout the world. It was by Colonel Harland in Corbin, Kentucky. The business was then sold to two Louisville businessmen. In 1966 KFC was listed in New York Stock Exchange.Heublein Inc. acquired KFC in 1971 but soon after conflicts arose between Colonel and Heublein over quality control and cleanliness issues. In 1986, Pepsi Co acquired KFC, by that time KFC had expanded to 55 countries with over 6600 units. Due to strategic reasons, in 1997 PepsiCo spun off its restaurant businesses (Pizza Hut, Taco Bell and KFC) into a new company called Tricon Global Restaurants,  Inc. Today KFC is an iconic brand that is recognized in nearly every country around the world. The competitors of KFC have taken over a large market share. According to findings McDonalds about 35 percent of the share in Sandwich Segment while the Burger King owns about 16 percent of the market share in fast-food industry. The local restaurants in different countries where KFC has presence pose a threat to the company. KFC outsanding brand recognition, experienced management, high quality food, advanced operational systems and unique global infrastructure position help them to capitalize on global opportunities (Panda123,2013,Business and Economics). References: http://www.termpaperwarehouse.com/essay-on/Kentucky-Fried-Chicken-Kfc/38247 viewed on 25th April 2014 Functions of Management by Gpaugh [online] Available at http://www.studymode.com/essays/Functions-Of-Management-620143.html viewd on 25th April 2014 Antiessays.com.(2014).Strategic Management of Kfc – Essays by Panda123.[online] Available at http://www.antiessays.com/free-essays/strategic managment-ofokfc-193565.html viewed on 26th April 2014 Marketing mix Available at www.entreprenuer.com/artcle/70824[online] viewed on 26th April 2014 Postioning.(2014) Available at www.strategicmanagmentinsight.com viewed on 28th April 2014 The Economic Times.(2005).KFC target women customer.[online]Available at http://articles.economictimes.indiatimes.com/2003-07-16/27531245_1_kfc-soul-food-chicken viewed on 27th April 2014 Tracy, B.(2014).Marketing.business-The 7 Ps of Marketing.[onlione] Entreprenuer.Available at http://www.entreprenuer.com/articles/70824

Every AP Chemistry Practice Test Available Free and Official

Every AP Chemistry Practice Test Available Free and Official SAT / ACT Prep Online Guides and Tips What's the best way to study for AP Chemistry? Practice, practice, practice. This article will provide you with links to every practice test and quiz for AP Chemistry that's available online, including full official and unofficial tests, shorter quizzes that cover each topic area, and other prep services you can access with a subscription! Official AP Chemistry Practice Exams Official exams are the best practice materials because they help you make accurate predictions of your performance on the real test. They will also get you used to the test format so that you're not caught off guard by the structure of the final exam. Unfortunately, for AP Chemistry, most of the available official practice materials are for the old version of the test (pre-2013), but these can still be useful for practice. You should be able to get newer practice tests from your teacher or through review books. I'd recommend starting with the unofficial practice materials listed later on in this article and then using official tests in the final stages of your studying. That way you'll be in the best position to estimate your ultimate AP score, and you won't squander limited resources. Want to get a perfect 5 on your AP exam and an A in class? We can help. PrepScholar Tutors is the world's best tutoring service. We combine world-class expert tutors with our proprietary teaching techniques. Our students have gotten A's on thousands of classes, perfect 5's on AP tests, and ludicrously high SAT Subject Test scores. Whether you need help with science, math, English, social science, or more, we've got you covered. Get better grades today with PrepScholar Tutors. Old Official Released Exams: 2008 AP Chemistry Exam 2002 AP Chemistry Exam (multiple choice only) 1999 AP Chemistry Exam 1994 AP Chemistry Exam These official exams come from before 2013 (when significant changes were made to the AP Chemistry curriculum), so they're formatted slightly differently from the current test. They have 75 multiple-choice questions (there are now 60) and six free-response questions (there are now seven). There are also five answer choices for each multiple-choice question, whereas now there are only four. The old AP Chemistry exam emphasized calculations and factual knowledge over a strong understanding of fundamental concepts and mastery of scientific practices. The questions on these tests will still help you practice your skills; just make sure you also use more recent materials for an accurate preview of what to expect on test day. Current AP Chemistry Course and Exam Description (multiple choice practice included) Go to page 126 of this course description to review sample multiple-choice and free-response questions for the current exam. This is not a full practice test (it only has 26 multiple-choice questions and four free-response questions total), but it's directly from the College Board, so it's the most accurate representation of the format and content of the test in 2016. Free-Response Questions 2014-19 These free response questions are from the most up-to-date version of the test. I would advise you to save most of them for later on in the year when you're more serious about practicing for the real AP exam. There are seven questions from each year. Free-Response Questions 2006-13 These free-response questions are from the old version of the AP Chemistry exam. As I mentioned in my description of the out-of-date practice tests above, you'll notice that there used to be six free-response questions on the test instead of seven. You should also know that the questions that ask you to write balanced equations are not on the new version of the test (doesn't mean they're not good practice, though!). Practice Tests from Your Teacher Since there aren't any full AP Chemistry practice tests available online that reflect the current format of the exam (well, any that I can legally link to in this blog post), you can also ask your teacher for additional practice materials. AP teachers have access to extra practice tests from the College Board that are available for classroom use. Oh, you need more practice tests? Maybe you should have thought of that before you interrupted all of my lectures with unnecessary questions about when I'm planning on "breaking bad." I don't even watch that show, Eric. You are a nightmare. Unofficial Free AP Chemistry Practice Exams There are also a bunch of unofficial resources for AP Chemistry practice questions on various online learning platforms and independent sites. Few of these offer complete tests in the same format as the real exam, but they do provide a large repository of practice questions (mainly multiple-choice). These are great if you're looking for questions in specific topic areas or are studying early on in the year and want to avoid certain concepts that you haven't learned in class yet. Just be wary of using these resources too much in your studying, and make sure you supplement them with official College Board materials at regular intervals. Unofficial practice questions often lack many of the nuances of real test questions. In a lot of cases, they will test straightforward factual recall whereas on the real test you'll have to do more complex analyses of unfamiliar experimental scenarios. Barron's AP Chemistry Practice Test This is a full test in the same format as the up-to-date AP exam (free response and all!). There's automatic online scoring for multiple-choice questions, and free-response answers are provided so that you can check your responses. Varsity Tutors Diagnostic Tests There are six diagnostic tests here with 50-60 questions each at varying difficulty levels. You'll also be timed as you take the tests so you can get a better sense of your pacing. Questions are multiple-choice only, so this won't give you any free-response practice. I'd also recommend trying out their AP Chemistry practice app (it's free). Albert Quizzes This site includes quizzes for each concept broken down according to the Big Ideas of the course. This site will track your progress and tell you what percentage of questions you got right from each difficulty level (questions are organized into easy, medium, and hard categories). You can also access over 200 additional questions, including free-response, if you pay $25 to set up an account. ScienceGeek Here you'll find tons of review questions and activities, with lengthy practice quizzes for each unit of the course. This is one of the few resources that has non-multiple-choice questions that you can check automatically online. PracticeQuiz This quiz includes 58 free AP Chemistry practice multiple-choice questions. ChemmyBear There's a lot of stuff here, but if you're just looking for practice tests, you can find them at the end of the list of resources for each unit. There are multiple-choice and free-response tests for most units with accompanying answer keys. Chemmy bear? Actually, there is some interesting chemistry behind how gummy candies are made. Unofficial Paid/Subscription AP Chemistry Practice Exams Here are some additional resources that will cost you some money, but they might be worth it because they provide full properly-formatted AP Chemistry practice tests. Peterson's ($29.95) Two full-length practice tests (up to date format and content) Answer explanations Automatically tells you what you still need to study based on your results 90-day access Sterling Test Prep (price varies) On this site, you can buy individual practice tests for each topic in AP Chemistry. All of them together cost almost $100, so that might not be feasible, but you can get each specialized practice test for less than $3 each (most have around 60 questions). You can also just get the Sterling book of practice questions, which many students seem to find helpful. Review Books (price varies) Review books can be great resources because many of them include instructions for how to structure your studying in addition to focused content overviews. For AP Chemistry, I recommend the 5 Steps to a 5 and Crash Course books. You can click on the link in the title of this section to read my full article on the best review books for this course. You can also get review books as e-books on your Kindle or whatever, but that's much harder to represent visually. Do you guys even know what you're looking at here? Do people under the age of 20 still read physical books? Want to get a perfect 5 on your AP exam and an A in class? We can help. PrepScholar Tutors is the world's best tutoring service. We combine world-class expert tutors with our proprietary teaching techniques. Our students have gotten A's on thousands of classes, perfect 5's on AP tests, and ludicrously high SAT Subject Test scores. Whether you need help with science, math, English, social science, or more, we've got you covered. Get better grades today with PrepScholar Tutors. How to Use AP Chemistry Practice Tests Practice tests are great study tools for AP tests, and they're especially helpful for a subject like Chemistry that involves a lot of calculations and experimental analysis. In the next couple of subsections, I'll tell you how to use practice tests throughout the school year to prepare for the AP Chemistry exam. First Semester: Using Practice Tests for Your Class It's not practical to take full practice tests during the first semester of AP Chemistry because you haven't covered enough of the course material yet. Focus on official free-response questions and unofficial topic-specific practice tests that address aspects of the curriculum that you've learned already. It's a great idea to start early and do consistent reviews so that your knowledge base remains strong throughout the year. Since chemistry is a subject that builds on the fundamental concepts learned in the first few months of class, it's vital that those early lessons are solidified in your memory. This way, more complex material that you learn second semester won't fly over your head. You can also consider getting a prep book; most of them have practice questions organized by chapter for selective review of different concepts. Second Semester: Preparing for the AP Test During your second semester, you can start to take full practice tests to predict your AP score-range. At this point, you've learned most of the material that will be covered in the class, so your scores should accurately reflect your abilities. Every time you take a full practice test, keep track of the areas where you need more practice. As I mentioned at the beginning of this article, I would recommend saving the most up-to-date official practice materials for later in the semester so that the format of the current test stays fresh in your mind. As you take each test, circle any questions where you were unsure about your answer. Even if your choice ends up being correct, you should still plan to go over these concepts, so you don't feel shaky about them on the real AP test. After you've finished taking the test (with realistic time constraints!), categorize your mistakes by topic area, and use their distribution to inform the rest of your studying. The purpose of taking practice tests is to diagnose your weaknesses so you can address them as efficiently as possible. DON'T go from one test to the next without taking a deeper look at what went wrong! You'll end up wasting your time, and your second practice test is unlikely to demonstrate much improvement. Spend at least a couple of hours after each practice test doing practice problems and reviewing concepts that you didn't quite understand when they came up on the test. When you feel satisfied that you have a better handle on the background information and solution methods, you can take a second practice test to see how much you've improved. The process as a whole should work like this: Take and score first practice test (4 hours) Evaluate mistakes (1.5 hours) Practice problems and study content to improve weak areas (2.5 hours) Take and score second practice test (4 hours) Reevaluate your progress and repeat steps if necessary! One cycle through all of these steps will take around 8-10 hours, but you can repeat the steps ad infinitum until you're satisfied with your scores. If you find that you're not improving between practice tests, you'll need to reevaluate your study strategy. To master a complex subject like chemistry, you need to have a strong grasp of the fundamental concepts. Then, you can build on that understanding for more difficult problems. Be sure to do lots of practice problems where you're required to justify your answers! The smug dude on top is you after studying with these practice tests! Just mentally replace the 1 with a 5 so that your smugness makes sense on the AP scale. Conclusion Practice tests are essential study tools, especially for AP Chemistry. Doing practice problems that align with the format and content of the real exam will help you to gain familiarity with the material and feel less stressed on test day. Try to start your studying with unofficial practice tests to build up a strong knowledge base, and then move onto official practice tests when you're ready to estimate your real AP score level. As you take practice tests, assess your mistakes and plan out your study time according to which areas need the most work. Make sure you start with basic concepts and then work your way up to more complex problems. Use these practice materials to detect gaps in your knowledge, and fill them before you take the test! What's Next? Want to learn a bit more about the test before you start practicing? Read our expert guide to the AP Chemistry exam, which includes sample questions and study tips! If you want a complete overview of the concepts that will be covered on the test, check out our ultimate study guide for AP Chemistry. We also have a specific guide to balancing chemical equations, if that's something you need extra help with. Do you plan on taking the Chemistry SAT Subject Test as well? Find out the differences between AP tests and SAT Subject Tests, and check out our Chemistry SAT II study guide article. Wondering how you can see chemistry in action in your day-to-day life? If you're looking for chemistry you can taste, we recommend these articles on vegetable oil substitutes and pozole (Mexican corn soup). If you're thinking more along the lines of something to play with, we have three different recipes for homemade slime. And if you need to clean things up afterwards, be sure to read our article on muriatic acid and how to safely use it. Want to improve your SAT score by 160 points or your ACT score by 4 points? We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

Words Ending in -gue

Words Ending in -gue Words Ending in -gue Words Ending in -gue By Maeve Maddox An email in which the word colleague was spelled colleag got me thinking about English words that end with a hard g sound spelled -gue. Since only a few such words are in common use, learning to spell them shouldnt be too difficult. WARNING: These words start to look strange when you look at them in a group. Twenty-six common English words end with the spelling -gue. Variant spellings drop the -ue. The following -gue words have no acceptable variant spellings, not even in Merriam-Webster: brogue colleague fatigue fugue harangue ideologue intrigue league meringue morgue plague rogue tongue vague vogue For each of the following -gue words, Merriam-Webster recognizes variant spellings without the -ue: analogue catalogue travelogue decalogue demagogue epilogue monologue †¨ pedagogue †¨ prologue The OED, on the other hand, does not dignify decalog, demagog, travelog, epilog, or monolog with entries. It acknowledges the existence of pedagog, catalog, and synagog. Pedagog and catalog are listed among obsolete spellings. Travelogue has an entry at which it is identified as originally U.S, but no variant spelling is given. Synagog is shown at synagogue and labelled U.S. The OED does have an entry for prolog, but it has nothing to do with the word prologue: prolog: (The name of) a high-level logic programming language derived from Lisp, originally designed for natural language processing but now used in many artificial intelligence programs. I can write analog, catalog, and travelog without a shudder. I cannot bring myself to write epilog, decalog, or synagog. †¨ Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Spelling category, check our popular posts, or choose a related post below:100 Words for Facial ExpressionsThe Parts of a WordWhen to use "an"

The Catcher in the Rye - the Importance of the Title

The Catcher in the Rye - the Importance of the Title The Catcher in the Rye  is a 1951 novel by American author  J. D. Salinger. Despite some controversial themes and language, the novel and its protagonist  Holden Caulfield  have become favorites among teen and young adult readers. In the decades since its publication, The Catcher in the Rye  has become one of the most popular coming of age novels.  Below, we’ll explain the meaning of the title and review some of the famous quotations and important vocabulary from the novel. The Meaning of the Title: The Catcher in the Rye The title of The Catcher in the Rye is a reference to Comin Thro the Rye,  a Robert Burns poem and a symbol for the main characters longing to preserve the innocence  of childhood.   The first reference in the text to catcher in the rye is in Chapter 16. Holden overhears: If a body catch a body coming through the rye. Holden describes the scene (and the singer): The kid was swell. He was walking in the street, instead of on the sidewalk, but right next to the curb. He was making out like he was walking a very straight line, the way kids do, and the whole time he kept singing and humming. The episode makes him feel less depressed. But why? Is it his realization that the child is innocent- somehow pure, not phony like his parents and other adults? Then, in Chapter 22, Holden tells Phoebe: Anyway, I keep picturing all these little kids playing some game in this big field of rye and all. Thousands of little kids, and nobodys around- nobody big, I mean- except me. And Im standing on the edge of some crazy cliff. What I have to do, I have to catch everybody if they start to go over the cliff- I mean if theyre running and they dont look where theyre going I have to come out from somewhere and catch them. Thats all I do all day. Id just be the catcher in the rye and all. I know its crazy, but thats the only thing Id really like to be. I know its crazy. Holdens interpretation of the poem centers around the loss of innocence (adults and society corrupt and ruin children), and his instinctual desire to protect children (his sister in particular). Holden sees himself as the catcher in the rye. Throughout the novel, hes confronted with the realities of growing up- of violence, sexuality, and corruption (or phoniness), and he doesnt want any part of it. Holden is (in some ways) incredibly naive and innocent about worldly realities. He doesnt want to accept the world as it is, but he also feels powerless, unable to effect change. The growing-up process is almost like a runaway train, moving so fast and furiously in a direction thats beyond his control (or, even, really his comprehension). He cant do anything to stop or stall it, and he realizes that his wish to save the children is crazy- perhaps even unrealistic and impossible. Through the course of the novel, Holden is forced to come to terms with the reality of growing up- something that he struggles to accept. The Catcher in the Rye: Key Quotes What I was really hanging around for, I was trying to feel some kind of a goodbye. I mean Ive left schools and places I didnt even know I was leaving them. I hate that. I dont care if its a sad goodbye or a bad goodbye, but when I leave a place I like to know Im leaving it. If you dont, you feel even worse.- J.D. Salinger,  The Catcher in the Rye, Ch. 1I dont even know what I was running for- I guess I just felt like it.- J.D. Salinger,  The Catcher in the Rye, Ch. 1It was that kind of a crazy afternoon, terrifically cold, and no sun out or anything, and you felt like you were disappearing every time you crossed a road.- J.D. Salinger,  The Catcher in the Rye, Ch. 1People always think somethings all true.- J.D. Salinger,  The Catcher in the Rye, Ch. 2People never notice anything.- J.D. Salinger,  The Catcher in the Rye, Ch. 2Im the most terrific liar you ever saw in your life. Its awful. If Im on my way to the store to buy a magazine, even, and somebody asks me where Im goi ng, Im liable to say Im going to the opera. Its terrible.- J.D. Salinger,  The Catcher in the Rye, Ch. 3 When I really worry about something, I dont just fool around. I even have to go to the bathroom when I worry about something. Only, I dont go. Im too worried to go. I dont want to interrupt my worrying to go.- J.D. Salinger,  The Catcher in the Rye, Ch. 6All morons hate it when you call them a moron.- J.D. Salinger,  The Catcher in the Rye, Ch. 6In my mind, Im probably the biggest sex maniac you ever saw.- J.D. Salinger,  The Catcher in the Rye, Ch. 9Its really too bad that so much crumby stuff is a lot of fun sometimes.- J.D. Salinger,  The Catcher in the Rye, Ch. 9There isnt any night club in the world you can sit in for a long time unless you can at least buy some liquor and get drunk. Or unless youre with some girl that really knocks you out.- J.D. Salinger,  The Catcher in the Rye, Ch. 13Goddam money. It always ends up making you blue as hell.- J.D. Salinger,  The Catcher in the Rye, Ch. 15 The Catcher in the Rye: Vocabulary Holden speaks to the reader in the first person, using the common slang of the fifties, which gives the book a more authentic feel. Much of the language Holden uses is considered crass or vulgar but it fits the personality of the character. However, some of the terms and phrases Holden uses are not commonly used today. Understanding the words Holden uses will give you a greater understanding of the prose. Chapters 1-5 grippe:  influenza chiffonier:  a bureau with a mirror attached falsetto:  an unnaturally high-pitched voice hounds-tooth:  a pattern of jagged checks, usually black-and-white, on fabric halitosis:  chronic bad breath phony:  a fake or insincere person   Chapters 6-10 Canasta:  a variation on the card game gin rummy incognito:  in the act of concealing ones identity jitterbug:  a very active dance style popular in the 1940s Chapters 11-15 galoshes:  waterproof boots nonchalant:  unconcerned, casual, indifferent rubberneck:  to look at or stare, to gawk, especially at something unpleasant bourgeois:  middle-class, conventional Chapters 16-20 blasà ©:  indifferent or bored, unimpressed conceited:  having a high opinion of oneself, arrogant louse:  a contemptible person; it is also the singular term for lice Chapters 21-26 digression:  a deviation from a central theme in speaking or writing cockeyed:  askew, cross-eyed pharaoh:  ancient Egyptian king bawl:  to cry

Market Structure Essay Example | Topics and Well Written Essays - 500 words

Market Structure - Essay Example However, further he adds that the PeopleSoft products will not be integrated into Oracle offerings and PeopleSoft programmers would have to rewriter the most important functions from the scratch as part of the new Oracle software. Following these two contradicting claims, the conclusion can be made that Oracle just wants to eliminate the dangerous competitor while the interests of PeopleSoft customers are not taken into account at all. In addition, Ellison has claimed that mergers with other smaller rivals are of no interest for Oracle, probably because they do not present the threat for Oracle market standing. Nevertheless, in the long run the merge will prove to be beneficial for the consumers because the company will be able to use specialists of PeopleSoft as the tool to develop new programs aimed at making data easier to manage. Both Oracle and PeopleSoft focus on stand-alone products and probably would not survive and meet growing demands of customers. The PeopleSoft have limited offerings and merge with Oracle provides the opportunity to become the team within the larger structure and accelerate the consolidation among the vendors.

The Human Side of Organisations Essay Example | Topics and Well Written Essays - 2000 words

The Human Side of Organisations - Essay Example These targets were specific, measurable, attainable, realistic and time bound. Following the future development targets was an extensive action plan that would help in achieving these targets. 1) Evidence 1.1 Self-Analysis A critical analysis of the personality inventory test taken for the purpose of this assignment made me understand my personality type along with my strengths and weaknesses. According to test results, my personality type is ENTJ which stands for extraverted, intuitive, thinking and judging. Further consideration of these results made me understand that I am capable of looking at a broader picture underlying a situation instead of its specifics (Sharp, 1987). Furthermore, I thrive in situations that allow more cognitive application and social interaction. Research performed to understand my test results indicated that this personality type is known as extraverted thinking (Furnham, Moutafi, and Paltiel, 2005). I like to socialize in practically every situation from academics to family life and community events, intuition acts as my major strength while handling any task or situation at hand. As a result my responses are usually robust; contain holistic view of the situation. Although some of the decisions are made unconsciously however my past experiences provide me with expertise and self-awareness act as a ground for such decisions. Further analysis with the help of course literature provided during the semester about intuition indicated that my intuitive intelligence is an amalgam of creative, social and expert intuition. As a result the decisions made are based on assessment of feelings of people involved in the decisions, my own experiences and understanding along with gut feelings leading to creative ideas. 1.2 Strengths and Weaknesses In the light of the analysis performed above, I was able to identify my personal strengths and weaknesses. Being an extrovert and intuitive persona, I am able to identify other people’s emotions and also read between the lines. Where I have undertaken quite a few projects in leadership roles, these traits helped me in interacting well with my team by understanding their personal emotional needs. My second strength can be effective time management. Since I perform judgment and thorough thinking about tasks before taking them and plan them well after they are assigned to me, therefore I try to keep a track of my performance through effective time management, prioritization and utilization of resources play a key role in this area. My third strength can be strategic thinking. Before making a decision, I try to analyze the situations, possible causes behind the problem and identify most appropriate solutions that will have long term positive results rather than short term success. Along with these strengths, I have several weaknesses which sometimes hinder my efficiency and effectiveness in certain situations. My first weakness can be difficulty in keeping balance between differen t tasks. Although I like multitasking, however it gets difficult to prioritize them and give them due share of time. I plan my tasks before time and keep a track of their

Development of Reproductive system in Fetus; Genetic, endocrine and Research Proposal

Development of Reproductive system in Fetus; Genetic, endocrine and environmental factors - Research Proposal Example The primordial germ cells migrate to these ridges from the primitive yolk sac at this stage (Bullough and Bullough, 185). During the sixth week of gestation period the gonads begin to develop into testes in case of male fetus or transform into ovaries after waiting for some more weeks in case of female fetus (Bullough and Bullough, 185). This development of fetus reproductive system either to form testes or to form ovaries is controlled by the genetic factors established during fertilization. If the cells of the embryonic body contain the TDF gene usually carried by Y chromosome then the gonadal ridges form the seminiferous tubules and related ducts which later develop to secrete testosterone for the development of male reproductive system. In the absence of TDF genes the gonads wait until the twelfth week to begin to develop into female reproductive organs. This inherent tendency of growing into female reproductive system is known as Eve plan (Bullough and Bullough, 185). The primitive eggs present in the female fetus begin meiosis until they reach the â€Å"prophase arrest stage† and remain inactive until puberty. With the development of permanent kidneys the ovaries or testes come out of the thoracic abdominal cavity and take their final position in the pelvic cavity (Bullough and Bullough, 185). The fetal growth is a process controlled by several factors including genetic makeup of the fetus, the success of the implantation process, the availability of nutrients and oxygen to the fetus, hypoxia, cigarette smoking, infection, maternal nutrition, and a variety of growth factors, cytokines, and proteins of maternal and fetal or placental origin (Giudice, 307). Among the genetic factors IGF gene is also found to have considerable importance in fetal growth. Studies on human fetus showed that the natural deletion of exon 4 and 5 from IGF-I gene can cause huge restrictions in the physical and mental development

Compare and critically analyze the UK marketing strategies of Domino's Essay

Compare and critically analyze the UK marketing strategies of Domino's Pizza and Pizza Hut - Essay Example This paper will compare and critically analyse their business objectives will be made, followed by further comparisons and analyses of their marketing mix, marketing segmentation, and positioning in the UK market. The main priority for Domino’s Pizza is to provide timely and customer friendly service, which is reflected in its marketing objectives. For example, Domino’s considered the time when customers place and receive pizza orders as a great opportunity to connect with their customers. To do this, Domino’s offers their customer’s real time updates on order confirmation and delivery time to improve their delivery service. On the other hand, Pizza Hut’s main marketing objective is to engage with its customers by identifying their characteristics in order to provide them with relevant and timely offers. Moreover, Pizza Hut wishes to grow and retain its present customer base through the use of various promotion campaigns. Both Pizza Hut and Domino’s Pizza also seek to build their brand names to become household names in the UK, while also building customer loyalty through the provision of excellent and quality foods and quick service (Yohn, 2014). The basic product offered by Pizza Hut is dining experience, although they also provide food (Yohn, 2014: p1). The main product offering for Domino’s Pizza is their food, while their excellent delivery services that promise pizza in 30 minutes flat also counts as part of the product offering. As a result, customers whose basic need is food may visit Domino’s for a pizza or order for pizza from the comfort of their residence expecting good taste and hot pizza. The main difference between Pizza Hut and Domino’s is that Pizza Hut is mainly concerned with the dining experience because they run a restaurant operation, unlike Domino’s that mainly offers a home delivery service (Yohn, 2014). With

News Paper Summary Essay Example | Topics and Well Written Essays - 500 words - 2

News Paper Summary - Essay Example nce been evident especially on the waterfront, and buyers are relying on the Latin American-style of financing, which necessitates one to deposit a minimum of 50% before closing to fund construction. Developers will thus affect the rental market adversely since everyone is moving away from rentals thus raising demand. CIT group is set to acquire $3.34 billion in cash from OneWest in a deal they project to produce profits of 3.35 times its initial investment. OneWest collapsed in 2008 thus becoming the third largest bank failure due to growing concerns by customers about its rising mortgages. The deal drew scrutiny from the dividends they produced for private-equity firms and their investors, but regulators had few choices. CIT majors in commercial lending and the deal is set to boost its assets to $67 billion. The firm’s top cop is confident the regulators will approve the deal, and he is gratified with the deal because it will be worth the expense that comes about with crossing the $50 billion mark. The article tinctures on a court ruling set to be revisited to determine whether misconducts done by employers to staffs should apply to cases brought under Connecticut law. It further cites an example from a case brought forward by Mr. Trusz, who was fired by UBS for allegedly overvaluing properties leading to excessive fees for clients. He consequently sued the banks citing his superiors treated him differently from others who did not complain before winding up their employments. Investors predict they could lose a lot if the court interprets the law narrowly since whistleblowers will have their safety compromised against reporting firms’ wrongdoings. If the ruling favors Mr. Trusz, it will limit employers’ flexibility to make tough verdicts on workers. In its defense, UBS claimed Mr. Trusz duties encompassed in his official duties did not include valuations of property, but he defended his actions by saying that whistleblower shelters are essential to shield

OLM Individual ASSIGNMENT Example | Topics and Well Written Essays - 3000 words

OLM Individual - Assignment Example These include process design and structure, human resource management, product design, location, capacity planning, supply-chain strategy, and partnering with outside agencies. Based on these factors, proven practices and principles have been linked with activities in operations management of the fast food concept that can help in achieving sustainability in the competitive market and the firm’s corporate strategy. According to Hill (1991), ‘The production/operations management (POM) task is concerned with the transformation process which takes inputs and converts them into outputs, together with the various support functions closely associated with this basic task’ (cited Brown, 2000; p.7). Such transformation processes can be applied to three main categories, materials, customers and information. Brown (2000) describes that Operations Management encompasses the most vital activities of production, beginning from and including, planning and design, production processes of goods and services, and also effective integration of marketing, finance, human resources management and strategy in order to enable a business to enter and compete with both new and existing markets. In other words, a business’s success and sustainability largely depend on the operational capabilities, including efficiency and quality. Based on a case adopted from Brown (2000; p.1), an attempt to establish a relationship between strategy and operations management through different ways in which an organization’s operations can add value to the delivery of goods and services has been coherently illustrated. The case is about ‘Sunnyside Up,’ a fast food concept in UK, a responsibility given to Chris Cowls, a former Franchise Director of Burger King. Chris Cowls and this team is responsible for designing and setting up the Sunnyside Up in UK market which already has well-established McDonalds

News Paper Summary Essay Example | Topics and Well Written Essays - 500 words - 2

News Paper Summary - Essay Example nce been evident especially on the waterfront, and buyers are relying on the Latin American-style of financing, which necessitates one to deposit a minimum of 50% before closing to fund construction. Developers will thus affect the rental market adversely since everyone is moving away from rentals thus raising demand. CIT group is set to acquire $3.34 billion in cash from OneWest in a deal they project to produce profits of 3.35 times its initial investment. OneWest collapsed in 2008 thus becoming the third largest bank failure due to growing concerns by customers about its rising mortgages. The deal drew scrutiny from the dividends they produced for private-equity firms and their investors, but regulators had few choices. CIT majors in commercial lending and the deal is set to boost its assets to $67 billion. The firm’s top cop is confident the regulators will approve the deal, and he is gratified with the deal because it will be worth the expense that comes about with crossing the $50 billion mark. The article tinctures on a court ruling set to be revisited to determine whether misconducts done by employers to staffs should apply to cases brought under Connecticut law. It further cites an example from a case brought forward by Mr. Trusz, who was fired by UBS for allegedly overvaluing properties leading to excessive fees for clients. He consequently sued the banks citing his superiors treated him differently from others who did not complain before winding up their employments. Investors predict they could lose a lot if the court interprets the law narrowly since whistleblowers will have their safety compromised against reporting firms’ wrongdoings. If the ruling favors Mr. Trusz, it will limit employers’ flexibility to make tough verdicts on workers. In its defense, UBS claimed Mr. Trusz duties encompassed in his official duties did not include valuations of property, but he defended his actions by saying that whistleblower shelters are essential to shield

Only The Heart Novel Essay Example for Free

Only The Heart Novel Essay Only The Heart is a very successful novel presented by many narrators in both in the past and present. This novel portrays the hardships and suffering that a Vietnamese family endures through the years of approaching communism. Their desperate flee from the only home they have ever known and the loved ones that they may never see again, all in search of a place where there is freedom and hope. Only The Heat is a story that focuses on the Vo familys suffering. The novel shows the hardships and struggles that a Vietnamese family endures through the years of approaching communism. It is also about their desperate flea from the only home they have ever known and the loved ones that they may never see again, all in search of a place where freedom and hope were to be found. The novel itself is a simply told yet moving story of the Vo family, who come to Australia as refugees in search of hope, as a result of the suffering in The Vietnam War. Many members of the family in turn become narrators and perhaps because of the unfamiliarity of the names, readers must looking back to the family tree, at the front of the book, while the reading of the first few chapters. This novel portrays the hardships, struggles and suffering that a Vietnamese family endures through the years of approaching communism. Even after arriving in the lucky country Australia there is still suffering, caused by Hai Nguyens vicious gang. There are many narrators in the novel but the two main persons through whom the story of is told is Toan, the youngest son and Linh, Toons cousin and adopted sister (after her mother Mai sacrificed her life for her). The last person creates a real overview of what has happened and the deepest thoughts and feelings of these two people, as they escape their country as refugees to Malaysia and then Australia. As you can see Only the Heart, is a successful novel composed by Brian Caswell and David Phu An Chiem, about the suffering the Vo family had to endure in the search of hope. With a terrifying side to life which is beyond even the vast imagination of the many Australians. The novel emphases how lucky we are to live in a country where things such as freedom, opinions and safety, (these are things taken for granted) are considered a right.

Crowdsourcing As An Effective E Commerce Strategy Business Essay

Crowdsourcing As An Effective E Commerce Strategy Business Essay ABSTRACT With the growing trend of social websites and their usage for e-commerce activities, crowdsourcing has become an innovative strategy to conduct e-commerce. The paper aims to explore on its effectiveness as an e-commerce strategy, firstly by trying to understand the history of crowdsourcing. Secondly the paper will look at the methodology and definitions of various types of crowdsourcing. Thirdly, the paper will define how crowdsourcing is used in e-commerce. Next, some case studies of business that uses crowdsourcing are discussed, with analysis on its success and failures. Finally, the paper will provide suggestion on how crowdsourcing can be an effective strategy. 1. INTRODUCTION Introduced by Jeff Howe and Mark Robinson in the June 2006 issue of Wired magazine, the term crowdsourcing describes a process of how new web-based businesses organize labor, by outsourcing tasks, traditionally performed by contractors or employees, to a community (usually online) through what amounts to an open call for proposals. Howe offers the following definition: Simply defined, crowdsourcing represents the act of a company or institution taking a function once performed by employees and outsourcing it to an undefined (and generally large) network of people in the form of an open call. This can take the form of peer-production (when the job is performed collaboratively), but is also often undertaken by sole individuals. The crucial prerequisite is the use of the open call format and the large network of potential laborers. (Howe, 2006) Howe further explained that true crowdsourcing involves a company accepting the idea received, processing it and producing for sale; and the idea provider being rewarded, in most cases, monetarily. This is to differentiate crowdsourcing from open sourcing, which is a cooperative activity initiated and voluntarily undertaken by members of public. In other words, crowdsourcing happens when a company posts a problem online, individuals in the community offer solutions to the problem, the winning ideas are awarded some form of a monetary reward, and the company mass produces the idea for its own gain. In another article, titled Power of Crowdsourcing, by Matt H. Evans, he states that Crowdsourcing taps into the global world of ideas, helping companies work through a rapid design process. From both definitions, it can be understood that crowdsourcing needs a channel that is able to reach out to the masses to be effective, and the most obvious choice is the internet. This is further complimented by the rise of Web 2.0 technologies, whereby individuals are able to interact and define the web rather than being passive browsers of the web. This makes crowdsourcing even more attractive as it allows companies to tap into the potential vast collective intelligence of the masses to achieve their business strategy. As such, e-commerce businesses (businesses that uses the internet to handle the buying and selling of products or services) are the most likely adopter of crowdsourcing technique for their e-commerce strategy. E-commerce strategy is the plan and courses of action that a company undertakes to offer its products and services on the internet to achieve its business goal. For companies that have existing offline operations, e-commerce strategy will most likely be focused on integrating its offline operations into an online presence. This will include how to best represent the company online, the infrastructure and framework required to do so and the range of activities needed to promote the companys core activities on the World Wide Web. Another reason that crowdsourcing is gaining popularity is because in todays globalised market, competition in innovation is very fierce and in-house research and development is getting more costly. As mentioned in The Global Brain, by Nambisan Sawhney, 2008, These forces rapidly decreasing product life cycles, decreasing internal innovation productivity, and global competition together are creating a Red Queen effect  [1]  in innovation: Companies have to invest more and more just to maintain their market position. This make crowdsourcing a viable option, as it allows the tapping into the vast intelligence of the masses, like what former Sun Chief Scientist, Bill Joy says, Most of the smart people in the world dont work for your company. More importantly, this intelligence can be obtained at relatively low cost. 2. POPULUARITY OF CROWDSOURCING To understand the current popularity of crowdsourcing, this paper has referred to PBworks ( http://crowdsourcingexamples.pbworks.com/ ), one of the worlds largest provider of hosted collaboration solutions for business and education, which has a wiki that provides a comprehensive list of companies that uses crowdsourcing. In addition to the wiki, as the list provided by PBworks is purely textual, this paper has also referred to Grant Silverstones article, Friday Fact Box Crowdsourcing ( http://www.gottaquirk.com/2010/01/29/friday-fact-box-crowdsourcing/ ), for graphical representation of the list. Extracted are two graphical breakdowns of industries that use crowdsourcing, one group using purely crowdsourcing as their business strategy, and the other using crowdsourcing as an add-on initiative to their current business, without disrupting their own core business strategy. In the chart (Fig 1.1), it shows the current industry breakdown of companies using Crowdsourcing as their main business strategy. According to PBworks, out of the listed 141 companies, the majority, or 43% belongs to general business, such as marketing, sales, advertising and finance. This is followed by Design (15%) and then Media (13%), while Tourism makes up the least at 1%. Fig 1.1 (Source: Grant Silverstone, Friday Fact Box Crowdsourcing) In addition to that, in Fig 1.2, it shows that of these 141 companies, a huge majority comes from USA (65%), Europe (13%) and UK (6%), while Brazil, Africa and Russia only make up 1% each. Fig 1.2 (Source: Grant Silverstone, Friday Fact Box Crowdsourcing) From these two charts, it can be derived that majority of companies using crowdsourcing efforts are those in industries that traditionally requires large community networks (such as sales, news and marketing) and creativity capacity (such as design, advertisement, media). While industries that requires specific skills (such as Education) and are more systematic (such as Science and IT) are less popular with companies to consider using crowsourcing as a business strategy. Moreover, crowdsourcing is mainly engaged in western countries, which the economy and infrastructure are much more developed. This is an important factor as mentioned earlier that a good networking channel is needed for the success of crowdsourcing. Next in Fig 1.3, it shows the industry breakdown of companies that initiated crowdsourcing efforts to complement their current business strategy, with the majority from IT at 33%. It is also interesting to note too that nearly all these companies in the list are big players in the industry, such as Adobe, BMW, Nokia and so on. Fig 1.3 (Source: Grant Silverstone, Friday Fact Box Crowdsourcing) From the chart and the list, it can be seen that currently, crowdsourcing is still a new idea and not attractive enough to draw companies to venture into it as a complement process to their existing business strategy. However, big companies, with huge resources, do see the potential of crowdsourcing and are able to invest into it. This is also the reason why IT industry is the major contributor to crowdsourcing initiatives, as they have the knowledge and expertise to tap on the internet to maximize crowdsourcing potential. 3. Examples of Business using Crowdsourcing To understand how crowdsourcing is currently being used in businesses and its effectiveness, it is necessary to look at real cases. The paper will look into 3 companies, each with distinctive methods of engaging crowdsourcing, namely Threadless, Amazon Mechanical Turk and Cambrian House. Threadless Threadless is a community-centered online apparel store launched in 2000 by Jake Nickell and Jacob DeHart, with $1,000 in seed money after entering and meeting in an Internet t-shirt design contest. They wanted to start their own design competition, but instead of hiring a jury, they decided to let the designers themselves pick the winner. Source: Threadless: http://www.threadless.com How it works In the beginning, members of the Threadless community will submit their t-shirt designs online, where the designs are then put to a member vote. The winner would get free T-shirts bearing the winning design, while everyone else would get to buy the shirt. Currently, Threadlesss receives on average, one thousand designs in any given week, of which, only ten designs from the voted top hundred to print and sell through an online store. DeHart and Nickell also increased the bounty paid to these winners to $2,000 in cash, a $500 gift certificate ($200 in cash if they trade in the certificate), as well as an additional $500 for every reprint. This is because limited batches are printed and sold out shirts will only be re-printed if there is enough demand from customers requesting for a re-print. On occasion, special contests will run in association with various sponsors. These contests set a theme for designs, with a selection of additional prizes, often related to the sponsor, being awarded to the chosen winner. How Successful was Threadless The Threadless community is currently six hundred thousand strong, producing about one thousand designs for voting each week. In 2006, Threadless had managed to generate $17 million in revenues and it is still growing rapidly. Threadless boasts, according to Jeffrey Kamikoff (Threadless Chief Creative Officer), incredible profit margins. Each shirt that sells for between $12 to $25 is produced at a cost of just $5. Moreover, Threadless need not do any advertising or marketing, as the community itself will self-perform such functions. The designers will persuade friends and community members to view and vote for their work. Threadless will also rewards the community for those who submit photos of themselves wearing a Threadless shirt or refers a friend who buys a shirt with store credits (worth $1.50 and $3.00 respectively). This crowdsourcing strategy helps Threadless to sell an average of ninety thousand T-shirts a month. However, Threadless had also suffered by their own success. Their spring sale in March 2008 resulted in serious server downtime, resulting in the offer of $50 vouchers to inconvenienced customers and the promise to never ever let this happen again forever ever. Eighteen months later, a special one day sale to tie into the 09/09/09 date saw Threadless pummeled again by insane amounts of traffic, with users reporting inability to access the site for extended periods some never getting through. The customer experience was impacted by such a lack of planning of traffic which was to be expected from a company dealing with such huge social community. It was only from these experiences that Threadless had begun to look into better managing their wildly fluctuating levels of traffic in their infrastructure. Amazon Mechanical Turk Amazon Mechanical Turk is a service launched on November 2, 2005 by Amazon.com, which was initially invented for in-house use by Peter Cohen as a service to find duplicates among its web pages describing products. As of 2010, though still in beta, Mechanical Turk has grown to be a crowdsourcing internet marketplace for work where businesses (known as Requesters) publish tasks (known as Human Intelligence Tasks or HITS), and workers (known as Providers) complete them for a monetary payment that was set by the Requesters. Amazon Mechanical Turk gives businesses immediate access to a diverse, global, on-demand, scalable workforce and gives Workers a selection of thousands of tasks to complete whenever and wherever its convenient. Source: Amazon Mechanical Turk: https://www.mturk.com How it works Amazon Mechanical Turk, as mentioned is a market place for tasks that computer and machines cannot do, or cannot do it precise enough. These tasks can only be done by human intelligence, such as writing reviews or detecting specific objects in images. The process of Mechanical Turk is firstly, companies will post jobs (HITS) at MTurk (Amazon Mechanical Turk Market Place), then deposit the HITS payout amount into their MTurk account. Next, workers, who are registered members of MTurks, will look for tasks that they feel that they can perform. Once they take up the task, they will be assigned to it, but there will not be any contract. These HITS are tasks that are fairly easy and quick to execute, with most of them being able to be completed under 20 to 30 seconds or less and payout at about 10 to 50 cents. After the HIT is completed and submitted, Amazon Mechanical Turk will automatically transfer the money from the Requesters prepaid HIT balance to the workers Amazon gift certificate account. With the payout, workers can choose to either transfer the money to their bank account or to their amazon.com gift certificate balance. For every task performed, Amazon will take a cut. In addition, Requesters can also give bonus to workers w hom they like the task done. Besides the Official MTurk website, there is another website, Turker Nation (http://www.turkernation.com ), a forum for workers and requestors to meet and discuss the work at hand. Issues with Hits are discussed here. The site is independent from Amazon, and is not related to Amazon in any way. How Successful was Mechanical Turk Since its launch in 2005, the number of worker members in Amazon Mechanical Turk had grown in numbers. By March 2007, there were reportedly more than 100,000 workers in over 100 countries. MTurk is popular with companies as they find that HITS are a very affordable way to outsource large groups of similar tasks that are very simple to complete. Companies find the MT task auction model attractive because it reduces payroll costs of having to employ normal workers to perform such tasks. However, while Companies or Requesters find the cost of engaging MTurk to complete HITS attractive, there are many criticisms. As HITS are typically simple, repetitive tasks and users are paid often only a few cents to complete them, many have criticized Mechanical Turk as a market place for slaves. Moreover, workers are paid as contractors rather than employees, requesters enjoy tax advantages and low cost, and they also avoid laws regarding minimum wage, overtime, and workers compensation. Workers, on the other hand, must report their income as self-employment income. In addition, some requesters have taken advantage of workers by having them do the tasks, then rejecting their submission in order to avoid paying. Amazon.com does not monitor the service and refers all complaints to the poster of the HIT. Nevertheless, in view of such criticism, MTurk is still attracting workers, especially those living in second and third-world economies, because the impact of earning those few extra dollars will be magnified many times over. Cambrian House Launched in 2006, Cambrian House started as a crowdsourcing community that pioneered the idea of harnessing the power of the crowd to create ideas for websites and software products. Its mantra is You think it; crowds test it; crowds build it; you sell it; you profit. Source: Cambrian House: http://www.cambrianhouse.com How it works Cambrian House calls itself a community of people with broad talents and interests to create web-based products that the world wants, markets those products, and shares in the profits. They cater to people with no time to pursue new ideas or anyone with a vision and motivated to submit ideas. The way Cambrian House works is, firstly, Individuals register and create a profile of their capabilities in its website. They can then participate within the community by initiating ideas. The community will then test these ideas and give the approval on those that are feasible. Next, Cambrian House staff will create a brochure site to test the winners popularity and usability within the community. If the idea survives, the contributor will then seek people with passion and skills in the community to construct or co-develop the commercial version of the idea, by awarding them with Royalty Points (the amount you receive for coming up with an original idea) or Cambro (Cambrian Houses currency, 1 Cambro = $1 USD). Cambrian House will fund the project and if needed, they can also seek additional funding from the community. Once the product is created, the project champions can then seek marketers, business development professionals, and or SEO (Search Engine Optimization) experts in the Cambrian House community to deal with the promoting, selling and delivery of the product. Finally, once the product starts to sell, every member that contributed will earn Royalty Points or Cambro that had been negotiated with the business champion. In short, every member in the Cambrian House community can participate by not just giving ideas but also in bringing members ideas to life. There are no limits to number of projects members can join. During every development stage, everyone involved will also participate as peer-reviewers at select decision gates along the way to measure the individuals contribution. Although Cambrian House crowdsources the conception and creation of its products, ideas are subject to editorial review by a core team and actual production is subject to a set of quality guidelines. In the case of conflicting code or design contributions, the community decides which the best is. An example of how Cambrian House involves in every project is its first product (a video game) which was emerged from the community forums and seemed popular, so it risked $8,000CAD on a preliminary website to promote the game. It sailed through the market test selling hundreds of pre-orders at half-price ($9.95CAD) in a single weekend. That response encouraged Cambrian House to invest more for the next development stage. Cambrian Houses eventual goal is to turn each project into a separate, independently funded firm, but only after it has been market-validated. How Successful was Cambrian House The original Cambrian House community was deemed successful as it managed to achieve the most important component of crowdscourcing by attracting 50,000 plus members and more than 7000 ideas from the crowd. However, Cambrian House did not realized that although the crowd was great at thinking and testing, it was less interested when it came to the building element of Cambrian Houses model. Moreover, there are weaknesses in the idea-community model which include the challenge of convincing users to study and vote a rapidly growing pool of ideas, of which some are of relatively low quality, the management difficulty of distributed development, and the large number of duplicate submissions. After unsuccessfully trying to raise a new round of capital, in May 2008, Cambrian House announced the sale of much its assets to the New York-based venture capital company Spencer Trask. While Cambrian House will carry on as a vendor of Crowdsourcing software, its existence as a crowdsourcing community had come to a close. In reflection, Cambrian House CEO Michael Sikorsky states in a letter (excerpt): Indeed, our model failed. In short: we became a destination people loved to bookmark more than they loved to actively visit. The limiting reagent in the startup equation is not ideas, but amazing founding teams. A key assumption for us, which proved out NOT true: given a great idea with great community support and great market test data, we would be able to find (crowdsource) a team willing to execute it OR we could execute it ourselves. We needed amazing founding teams for each of the ideas this is where our model fell short. What we learned: it would have been better to back great teams with horrible ideas because most of the heavy lifting kept falling back on us, or a few select community members. A vicious cycle was created leading all of us to get more and more diffuse. Hence: the wisdom of crowds worked well in the model, but it was our participation of crowds aspect which broke down. Trying to find people willing or capable to take on the offspring (our outputs) of the Cambrian House model was hard and/or incredibly time consuming. (Michael Sikorsky, 2008) The lesson from Cambrian House is that the crowd only is not enough as it needs to be managed and needs an inspiring leader to guide it. 6. How can Crowdsourcing be an Effective E-Commerce Strategy? After looking at the definition and cases of crowdsourcing, it is understood that crowdsourcing has the potential to help e-commerce businesses gain competitive advantage, but like all business strategies, it is does not guarantee success. Nevertheless, crowdsourcing can be effective as an e-commerce strategy by helping companies in 5 ways. Crowdsourcing, firstly, can help companies to do market prediction by using the crowd to understand market desires. Companies can use the crowd to test the appeal of any new business ideas. Besides that, companies can derive from the crowd, emerging market desires and trends. Secondly, in addition to the knowledge of market desire, companies can draw information from crowdsourcing for product and business innovation. Based on information drawn from the crowd, companies can prioritize new business ideas, conduct product tests, rank next best enhancements with existing products and uncover methods to reduce costs and improve service. Thirdly, as mentioned, the knowledge of the crowd is very powerful. As such, crowdsourcing is a good option to solve problems that are difficult to solve internally with the companies current resources, by inviting answers or solutions from the crowd. Companies can also collaborate with the crowd to find new scientific discovery. Fourthly, besides solving internal problems, crowdsourcing can also help to tackle external issues, such as marketing. Companies can invite crowd to help in the creation of campaigns. Lastly, crowdsourcing is relatively much cheaper than hiring workforce for doing similar jobs. As companies only need to reward those who had contributed in the crowd, and it is usually not of huge amount, crowdsourcing is able to help companies to cut cost. With the above it mind, crowdsourcing effectiveness depends on how and under what environment it is used. Based on all the information gathered, the paper has come up with a few key points to effective crowdsourcing. Firstly, the crowd that crowdsourcing wants to tap into must be of substantial size. For example, if Threadless has only a member base of 100, and maintains its process of choosing ten winning designs every week, it will come a time whereby members might lose interest or doubt the integrity of these winning designs. Moreover, one of the characteristic of crowdsourcing is that the crowd is to represent the market, as such, the larger the community or crowd, the better the representation it will be. Secondly, companies must understand the crowd. When companies use crowdsourcing, they are usually targeting a specific community, which is formed by a common interest. Therefore, if companies want to crowdsource, they will need to know the community strengths and weaknesses. For example, if Threadless decides to request its community to submit computer programming works, it might not get anything or the works might be of inferior qualities. Thirdly, companies need to know what they want and need from the crowd. This is one important factor that determines the effectiveness of crowdsourcing. For example, in Amazon Mechanic Turk, if requesters post HITs with ambiguous requirements, the workers might have difficulty understanding what is needed of them and provide works that are irrelevant or not to the intended requirements. This will cause many rejected tasks, which is a waste of time of the companies and crowd, thus causing inefficiency. Next, companies need to recognize the contributions of crowd. Monetary reward is a way to acknowledge the crowds contribution, but usually crowd works mainly not for monetary reason. Participants of crowdsourcing are often leisure users, whose main motivation to participate is to be recognized and feel they are part of the community. The more affiliated they feel towards the community, the more willing they will be in providing help in tasks presented. Lastly, companies need to have adequate resources to manage the crowd and support the output from the crowd. This is one mistake that many companies make when they do crowdsourcing, as they thought the crowd will be able to contribute in every part of their business plan. This is generally not the case, as experienced by Cambrian House. As mentioned in the previous point, the crowd is usually made up of leisure participants, as such, they will be more willing to engage in task that requires less effort like providing ideas and suggestions, as compared to more tedious task like building the actual product which will be avoided. 7. Conclusion The above discussion has shown that crowdsourcing, when used correctly can be highly effective as an ecommerce strategy. It is able to tap into the power of the crowd for knowledge which is virtually unlimited at very low cost. Just like Threadless, by keeping the crowd motivated, business will grow as knowledge from crowd grows. However, it is important to note that there are situations where crowdsourcing is not possible or impractical. First of all, jobs that are confidential in nature, such as lawyers and accountants, and high level jobs, like business process planning, are not possible to be crowdsourced. As shown by Cambrian House, the crowd needs to be monitored by the company and provide resources when needed for successful manifestation of ideas. As such, it is not possible to fully crowsource a business process to the crowd. Internal workforce is still needed as the crowd might not fully understand the companies business models and goals and these internal employees are able to monitor and ensure the crowds contributions are within the companies guidelines and process. Moreover, too much reliance on the crowd could be construed as unethical and open the company up to criticism about the true nature of its social mission. By using Amazon Mechanical Turk, many companies have been seen as operating virtual sweat shops. As such, physical workforce is needed to balance the image of the company.