Entering German Market :: essays research papers

During the last decade German economy is stagnating, or even decreasing. One of possible reasons is the lack of entrepreneurship in German companies. Old companies usually are too big and unwilling to change something inside, thus German government decided to support establishment of new small and medium enterprises. New agenda 2010 introduces the strategy for Germany to recover the economy and become even more competitive. In the article â€Å"Starting your business with subsidies† in Invest in Germany magazine is written that there are more than 3000 incentive programs available for investors. The program is financed by the federal government, the states and international organizations, including the European Union. The aid is available for business start-ups in a way of funding and consulting. Additional support is proposed to other investment, research and development, and training, as well as improve and protect the environment. The aid comes in the form of investment pr emiums, additional capital allowances, regional support and special credit programs. Subsidies are the main form of support. Bigger subsidies are applied for new – Eastern states and for other incentive areas. Incentive areas mean that economy there should be encouraged, industry is not as developed and investors need additional incentives to choose these areas but not more developed ones. Distribution of these subsidies is generally subject to approval by the European Union. One of the programs to finance investment is Joint Agreement program. Cash grants approved and paid to investors under this program during 1999 – 2001 were 8.6 billion euros, and the budget for 2002 – 2006 is 8.1 billion Euros (http://www.state.gov/e/eb/ifd/2005/42039.htm). All investors – local and foreign – are treated equally under the program, but financed sum depends on the region. The government has placed particular emphasis on investment promotion in the new states of the former East Germany and has offered a large number of incentives to promote economy in those areas. Business Guide in Invest in Germany (http://www.invest-in-germany.de/en/index.php?redirect=http://www.invest-in-germany.de/en/research/businessguide/index.php?topcat=20&cat=1063656685824246400&lang=en) lists those conditions as the most significant for cash grants under the Joint Agreement program: - Funds from the Joint Agreement are granted at the authorities’ discretion - Applications must be filed before the start of the investment - Investors must make a considerable contribution to the investment project from their own capital as proof of their commitment - Cash grants are subject to taxation - An investment period may take up to 36 months from the start of a project.

MRP II: Inventory Management

While MRP I primarily address the inbound flow of inventory (materials management), MRP II adds other interfaces such as finance, marketing, and integrated logistics. Like MRP I, MRP II is a push inventory model which pushes product through manufacturing and distribution processes in order to meet forecast demand. However, it adds further dimensions to the basic model. MRP II not only considers the inbound flow of material, but also how much material can actually be handle within the plant. Furthermore, it actually handles production scheduling, labour needs, inventory budgets, and personnel needs. But the most important feature is the addition of the finance interface. This module provides the capability of transforming the operating production plans into financial terms, consequently the data can be used for financial planning and control purposes of a more general management nature. Another significant addition is the simulation module. This simulation capability enables management to perform a more comprehensive alternative planing work in developing the marketing and business plans. Operating variable could be regulated to examine the systemwide response to the proposed operating change. Besides MRP II includes the entire set of activities involved in the planning and control of production operations. It consists of a variety of functions of modules and includes production planing, resource requirement planning, master production scheduling, materials requirements planning (MRP I), shop floor control, and purchasing. Step 1 – Market Demand; the process begins with an aggregation demand from all sources. Examples of sources are firms† orders, forecasts, and safety stock requirements. Step 2- Production Plan; with inputs from manufacturing, finance, and marketing, the production plan would be derived. Step 3- Rough-cut capacity planning; it involves short-term capacity considerations that are affected by irregularities in demand. It formulates benchmarks for the proper use of personnel, machines, and shifts. Bills of capacity and bills of labour resources are the primary inputs to determine rough-cut capacity. In the event of incapability in producing the require output (due to limitation of capacity), adjustment to the production plan would be made. Step 4- Master production schedule; formulation of the master production schedules provides a realistic, detailed, statement of what the firm expects. It is more detail than the aggregate plan, it translates the aggregate plan into specific numbers of specific products to be produced in a specific period of time. Step 5- Material requirements planning (MRP); MRP is the heart of the entire process (MRP II). When MRP comes into play, material and schedule requirements would be generated. Step 6- Capacity requirements planning; at this stage, the capacity requirement planning determine whether the firm has enough capacity (e.g. worker, space, money) to meet the schedules. Again, if schedules could not be met, some adjustment in the master production schedule would be required else requirements would be scheduled. – Improved consistency in one-time customer delivery – Reduction in purchasing cost due to fewer expedited shipments – Inventory reduction of one-fourth to one-third (cost reduced) – Improve responsiveness to demand changes – Allowing more planning flexibility – Minimization of workforce overtime Problems in Implementation of MRP II Implementation an MRP II system is a monumental effort. The system requires a tremendous amount of information, which must be accurate if the system is to be successful. The MRP II systems is capable of affecting all function within Forges†s marketing, production, purchasing, accounting, finance and logistic. All personnel who have any interaction with the MRP II system require training. Further, Forges must be committed to make the MRP II system work. The problems that occur in implementing MRP are frequently organizational and behavioral rather than technical. Existing Systems and the Informal System If an MRP II system is replacing an existing production and inventory control system, Forges may see significant resistance to change, even if the existing system has been unsatisfactory. People generally resist to change, and they prefer the familiar to the unfamiliar. Also, when a system performs poorly, an informal system develops to deal with problems. For MRP II to operate effectively, the company must have a large amount of timely and accurate data. Besides, bill of material must be developed for all items. Furthermore, all the bill of material (BOM) must be reviewed, updated, and structured that provide the data needed by MRP II. This would not be a simple task. Frequency product changes and modification can make the process of developing a BOM challenging. To maintain the integrity of the BOM, the company must practice effective configuration control, that is, the company must control and coordinate changes to its products to ensure a smooth changeover to new product designs. After a system is installed, careful attention and discipline must be exercised to ensure at all data used by the system is accurate. For example, if a clerk is supposed to enter a code 3, indicating that the item is purchase in thousands, but instead enters code 1, indicating that it is purchase in dozens, serious error and material shortages are likely to occur. If a system gives erroneous data at times, people may develop other way to get the data they need and may no longer bother to update the system, since they no longer use it. The system could then become even less reliable and be a burden rather then a benefit. All MRP II data must be accurate to ensure system integrity, but the inventory data are the most difficult to maintain because they change frequency. The MRP II inventory data must be compared periodically with the actual physical inventory to maintain accuracy. Periodic counting involves more than just counting parts. Forges must maintain proper housekeeping so that parts are properly located, accessible and identified. When implementing MRP II for the first time, getting inventory under control can be a formidable task. Top-level managers and managers are in all parts of the organization that will be affected by MRP must clearly recognize all the efforts needed to achieve this new way of managing their activities. These mangers must fully support all the changes and must remain supportive of the new system. The participation of users of the system in its development will make the people more familiar with the system. Besides, they would also be more committed as they play a part in the system†s development. For the system to work, the entire user would have to be properly trained. Users must understand the system in order to used it effectively. A well-designed MRP system could help to improve a company†s operation greatly, however a poorly designed can lead a company into deep trouble. Wallace†s Proven Path for MRP Implementation According to Thomas Wallace, an MRP II expert, the implementation could be completed in 18 months. 12 months for implementing MRP, 3 months to â€Å"close the loop,† and three more months to implement MRP II. Figure above is a graphic representation of the implementation timetable. The process starts with first-cut education follows by developing a consensus that the company should implement MRP. Next, the education and training phase will begin and it is an ongoing activity even after implementation. By the second month, inventory accuracy and bill of material accuracy and structure will begin, they are the most time and labour consuming step. In the mid of the third month, production planning and MPS policies together with the system and software participation would start. By the eighth month, the first pilot program would commence. Subsequently the cutover phase would start. By the end of the twelveth month, the implementing of the basic MRP would be completed. The next three-month is for closing the MRP loop which encompass shop-floor control, capacity requirement planning and purchasing. Routings, work centers and system preparation will commence simultaneously. Once finished, another pilot program will commence follows by the cutover program. By the end of the fifteenth month, the MRP loop would be closed.

A Brief Note On Uk And Eu Small Business Policy - 2654 Words

Richmond The American International University in London School of Business and Economics Master in Business Administration ENT7100 Economics for Business Assignment 1 Compare and Contrast UK and EU Small Business Policy David Longbottom 000055846 November 2014 Table of Contents Executive Summary 3 1.0 Background 4 1.1 Definition 4 1.2 Objectives 5 1.3 Challenges 6 2.0 Analysis 7 2.1 Overview 7 2.2 Similarities 8 2.3 Differences 9 3.0 Conclusions 11 4.0 Bibliography 12 3.1 Text Books 12 3.2 eBooks 12 3.3 Websites 12 Executive Summary The assignment outlines arguments to compare and contrast UK and EU Small Business Policy. The assignment includes: †¢Ã¢â‚¬ ¦show more content†¦In 2014 SMEs account for 99.3% of firms (4.8 million companies), 47.8% of employment (15.2 million people) and 33.2% of annual turnover ( £1.6 Billion)6. The European Commission SME Performance Review provides estimates for the EU private sector. In 2014 SMEs account for 99.8% of firms (21.6 million companies), 67.5% of employment (88.8 million people) and 58.4% of annual turnover (â‚ ¬3.6 Trillion)9. 1Sloman, J, Hinde, K, Garratt, D. Economics for Business. Prentice Hall Financial Times, 2006. 2Muller, P, Gagliardi, D, Caliandro C, Bohn, NU, Klitou, D. Annual Report on European SMES 2013/104: A Partial and Fragile Recovery. European Commission. 2014. 5Wikipedia. â€Å"Small and medium-sized enterprises.†, http://en.wikipedia.org/wiki/Small_and_medium-sized_enterprises, accessed 4th December 2014. 6Federation of Small Businesses. â€Å"Small Business Statistics.†, http://www.fsb.org.uk/stats, accessed 30th December 2014. 9European Commission. â€Å"SME Performance Review.†, http://ec.europa.eu/enterprise/policies/sme/facts-figures-analysis/performance-review/index_en.htm, accessed 30th December 2014. 1.2 Objectives The SME sector is a significant component of the EU economy responsible for driving growth through entrepreneurship3. The primary economic benefits of entrepreneurship are: †¢ Job Creation †¢ Innovation †¢ Productivity †¢ Growth In the UK, 62% (3.3 million) ofShow MoreRelatedUK - Analysis Report31935 Words   |  128 Pagesbut the threat from terrorism continues to be high The UK adheres to a democratic, parliamentary system of governance known as the Westminster system. 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These two main sources (theory and practice) MUSTRead MoreFins2622 Notes6832 Words   |  28 Pagesfree  flow  of  goods  and  services  Ã¯Æ'  Ã‚  i.e.  tariffs,  N.T.B’s  and  administrative   obstacles  removed.  Common  governance  mechanisms   ï‚ § 1980†1984  Ã¯Æ'  Ã‚  11  agreements  Ã‚   ï‚ § 1990†1994  Ã¯Æ'  Ã‚  33  agreements  Ã‚   o Up  to  February  2010,  462  Regional  Trade  Agreements  (RTA’s)  reported  to  WTO   ïÆ'  Ã‚  e.g.  EU,  NAFTA,  ASEAN,  MERCOSUR  Ã‚   ï  ® Assumpt ion:  Free  markets  mean  efficient  allocation  of  resources.  Benefits  for  all.  Ã‚   o However,  countries  in  the  regional  contract,  can  trade  with  eachother,  BUT  still   have  large  tariffs  for  people  outside  the  agreement  Ã¯Æ'  Ã‚  PREFERENTIAL  TRADE  Ã¯Æ'  Ã‚  Read MoreIct and Ebusiness Retail Industry88499 Words   |  354 PagesICT and e-Business Impact in the Retail Industry Study report No. 04/2008 European Commission, DG Enterprise Industry e-Mail: entr-innov-ict-ebiz@ec.europa.eu, info@ebusiness-watch.org Impact Study No. 04/2008 ICT and e-Business Impact in the Retail Industry A Sectoral e-Business Watch study by empirica GmbH Final Report Version 4.0 September 2008 This report was prepared by empirica on behalf of the European Commission, Enterprise Industry Directorate General, in the contextRead MoreItaly - Research Paper10557 Words   |  43 Pagesfound the following year. 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Overview of the DoD Procurement Process

The Defense Department procurement process can be confusing and complicated. There are a variety of contract types – each with its own pluses and minuses. The regulations can be daunting since they seem to be the size of the tax code. The competition for contracts can be fierce. There is a lot of paperwork. But Defense contracting can be profitable and rewarding. Defense Department purchases typically begin at one of three points: sole source procurementprocurement under an existing multiple award contractnormal procurement Sole Source Procurements Sole source procurements are made when there is only one company that can fulfill the contract. This procurement is rare and must be documented very well by the government. You are more likely to get a sole source procurement once you have some government contracts and have an open contract vehicle available. Multiple Award Contracts Procurements under an existing multiple award contract are becoming much more common. Multiple award contracts (MAC) such as GSA schedules, Navy Seaport-e, and Air Force NETCENTS II involve companies obtaining a contract and then compete for task orders. Only those companies with a multiple award contract can compete for the task orders and task orders are the work. MAC’s are valuable since the number of companies that can compete for the resulting task orders is much smaller. The process for obtaining a MAC is similar to acquisitions over $25,000 discussed below. One type of multiple award contracts is Broad Agency Announcements or BAAs. BAAs are solicitations issued by an agency when it seeks basic research work. Topics of interest are presented and companies and universities submit proposals with possible solutions needing funding. Normal Procurements Normal procurement is split between simplified acquisitions (those below $25,000) and all the rest. Simplified Acquisitions Simplified acquisitions are purchases under $25,000 and require the government purchasing agent to obtain quotes either orally or through a brief written quote. Then a purchase order is issued to the lowest responsible bidder. The Navy says that 98% of their transactions are below $25,000 meaning there are billions of dollars available to small companies. Simplified acquisitions are not advertised so to get these contracts you have to get in front of the purchasing people so they will call and get a quote from you. Purchases Over $25,000 Purchases over $25,000 are publicized on the Federal Business Opportunities website. On this website, you will find Requests for Proposals (RFPs) for practically everything the government purchases. Review the RFP summaries carefully and when you find one of interest download the RFP documents. Read the documents very carefully and write a proposal in response and in complete compliance with the RFP documents. Make sure you know when the proposal is due and get your proposal submitted before the due date and time. Late proposals are rejected. Proposals are evaluated by the government according to the procedures listed in the RFP. Sometimes there may be questions asked but not always. Most of the time the decision is made based solely on your proposal so be sure everything is in it or you may lose the opportunity. Once you are awarded the contract, a contracting officer will send you a letter and contact you to negotiate a contract. If negotiations go well a contract will be finalized. Some purchases will not require negotiations so the government will issue you a purchase order. Be sure you read all documents carefully and fully understand what they mean. Contracting with the Defense Department can be complicated – better to know what you are agreeing to than finding out after signing a legally binding contract. It is now time to complete the contract and obtain more work.

Mehar Hashmi . British Literature Romanticism To Present

Mehar Hashmi British Literature: Romanticism to Present Professor Duncan Hasell May 4, 2017 Great Expectations of Being Earnest In a class-based society, where your class will determine the rest of your life and who you will marry, what is better to improve in social class, hence improving all aspects of your life but at the price of sacrificing your moral code and ethics towards the people that are there for you and love you or to be honest, gentle, loyal, and respectfully to everyone around you even if you don’t get the thing you cherish and hold dearly? That’s the theme of the novel, Great Expectation by Charles Dickens, mocking the class-system that British empire utilized during the Victorian Era that he lived in. Stating that†¦show more content†¦Even when was pursuing to become a â€Å"gentlemen† he showed this excellent quality of kindness, in the case as he used his own birthday allowance to help Hebert get a job. However, Pip does change do he him falling in love with Estella. This is due to the fact, that both of them aren’t in the same social class and stature. So, Pip starts having â€Å"Great Expectations† for himself in the sense he wants to become a part of higher society so he can win Estella and end up with her in. Due to this, he becomes more resentful the life he has and in a sense, betrays the people that truly care for him in his pursuit of trying to become a gentleman. The first sign of this is seen when he was going to get the fortune to move to London. He started acting snobbish and got the mentality that he is good for the place is currently in and too good for those around him. This got further worse in the novel, where to the point where he starts seeing those he loved as lower and embarrassed by them being around him. For example, when Joe came over to check on him he felt that way to the person that is his father figure and idol. In the pursuit of the high li fe, he was becoming lower than the people he got embarrassed by. He when he goes back to visit Joe and his country friends he has that feeling of embarrassment as if he was better person since he

Visual Art In Greek Mythology Essay Example For Students

Visual Art In Greek Mythology Essay Visual art is one of the most important facets of ancient culture. Not only is visual art aesthetically pleasing to the senses, but it aids us in grasping the concepts of civilizations and stories that we could not fully understand in simple text. Greek mythology has bred some of the most beautiful works of art ever created. These works tell the stories they represent in lively form, color and style. One of the most famed works of art representing Greek mythology originated in 460-450 BC. This is the statue of Zeus. There are arguments about whether it is Zeus or Poseidon, because they are both pliable possibilities, but for simplicitys sake, let us assume it is Zeus. The statue of Zeus is one of great pride. He stands without hesitation. He appears to be in his 40s, but his physical body is muscular and shapely. His very stance is once that demands attention and respect. This represents his role: Zeus the chief god. Zeus is strong, powerful, and just. In the statue, Zeus is about to throw one of his lightning bolts of justice. We will write a custom essay on Visual Art In Greek Mythology specifically for you for only $16.38 $13.9/page Order now His face is very stern and focused, as if he is seriously concentrated on the matter at hand. He stands unashamed of his exposed manhood, which is very representative of Zeuss character. Zeus is most known for his tendency to spread his seed throughout both the goddess world and the mortal woman world. It was considered a great honor to be a son or daughter of Zeus. Years and years later, in 1622, a sculptor named Gian Lorenzo created the sculpture Pluto and Proserpine. This sculpture represents the story of the capture of Persephone by Hades. Hades, the Roman Pluto, is depicted holding Persephone, the Roman Proserpine, by her waist and thigh. Persephone is turned away from Hades, pushing his face away. She attempts to squirm free of his strong grasp, a look of horror and fear on her face. It would seem this represents the moment Hades brings her to the underworld and tells her she is to be his queen. It is clear they are in the underworld because of Hades dog at his side. As Persephone pushes him away, he almost looks offended at her refusal. It is clear she cannot escape, for his body is obviously strong and muscular, and both her feet are off the ground, but her attempt is a feisty, determined one. This shows how much she does not want to stay with Hades in the underworld. The pain she feels is so apparent; her other arm is raised, as if reaching for some sort of escape, and her face is turned, as if she wouldnt even look at him. The open mouth of Hades dog also indicates that theres some sort of struggle going on, like it is barking. There is so much violent, sexual energy in this sculpture. It probably also represent the very moment before Hades ravishes Persephone. Moving further through time, the beautiful painting Cupid Kissing Psyche is created by Francois Gerard in 1798. This piece is absolutely mesmerizing. In the story of Cupid, or Eros, and Psyche, Eros is commanded by his mother Aphrodite to shoot his arrows at Psyche and make her fall in love with an ugly creature because she is jealous of her beauty. When Eros sees Psyche, he himself falls in love with her, and takes her away to be his secret bride. The only condition she must follow is that she cannot see him, for she cant know his true identity. At first Psyche is frightened, but begins to love Eros, still unknowingly. This painting represents this stage of the story, where Psyches love for the unidentified Eros is growing. The very color scheme of this painting is intensely calming and serene. Psyche sits amidst beautiful scenery, staring straight ahead. Eros is next to her, but she does not seem to notice. His hands are so close to her, but its hard to tell whether he is touching her or not. .u01899904c81c2213896693bbc6c6255c , .u01899904c81c2213896693bbc6c6255c .postImageUrl , .u01899904c81c2213896693bbc6c6255c .centered-text-area { min-height: 80px; position: relative; } .u01899904c81c2213896693bbc6c6255c , .u01899904c81c2213896693bbc6c6255c:hover , .u01899904c81c2213896693bbc6c6255c:visited , .u01899904c81c2213896693bbc6c6255c:active { border:0!important; } .u01899904c81c2213896693bbc6c6255c .clearfix:after { content: ""; display: table; clear: both; } .u01899904c81c2213896693bbc6c6255c { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u01899904c81c2213896693bbc6c6255c:active , .u01899904c81c2213896693bbc6c6255c:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u01899904c81c2213896693bbc6c6255c .centered-text-area { width: 100%; position: relative ; } .u01899904c81c2213896693bbc6c6255c .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u01899904c81c2213896693bbc6c6255c .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u01899904c81c2213896693bbc6c6255c .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u01899904c81c2213896693bbc6c6255c:hover .ctaButton { background-color: #34495E!important; } .u01899904c81c2213896693bbc6c6255c .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u01899904c81c2213896693bbc6c6255c .u01899904c81c2213896693bbc6c6255c-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u01899904c81c2213896693bbc6c6255c:after { content: ""; display: block; clear: both; } READ: The Differences Between Aegean And Egyptian Art EssayThe beautiful youth of Eros is obviously deeply in love with her. Though Psyche cannot see Eros, her face seems to sense him there, and there is no trace of fear. Though it is a painting of Eros and Psyche together, I believe the painter intends for it to be an expression of their love, and not a literal scene. (Meaning, Eros is not actually there beside her. ) She is holding herself tenderly, as if treasuring a memory. Both their bodies are painted so softly and so insanely beautiful that the mind is overcome by their love when viewing this work. In 1809, painter John Vanderlyn painted Ariadne Asleep on Naxos. Ariadne was a beautiful brown-haired maiden who fell in love with the hero Theseus. Ariadne aided Theseus in his slaughter of the Minotaur, and in return, requested to be his bride. Theseus accepted her offer, and after defeating the Minotaur, brought her with him. On the island of Naxos, however, Theseus abandoned her as she slept. This painting represents the moment Theseus sails off, as seen in the background to the right. Ariadne sleeps, stretched out on the ground, her body exposed and relaxed. She looks peaceful, as if she is happily dreaming of her lover, Theseus. The red shades used around her body give her a sexual energy, and yet she rests on a cloth of white, representing her innocence and virginity. Perhaps she is dreaming of her long-awaited wedding with Theseus and the birth of her sexuality. It is tragic in the sense that she may be thinking all these things, while her fianc? Â © is sailing off without her and she has no idea. But because she is portrayed in such a desirable way, it almost hints that there will be someone else. As one story goes, the god Dionysus finds her on Naxos and makes her his wife. There is a burst of light where Theseus is sailing away, representing a love that leaves her. But there is another burst of light coming from the opposite direction, hidden in the left, illuminating her body, possibly representing a love that finds her. Painted more recently, in 1908, is Apollo and Daphne by John William Waterhouse. The story behind this painting begins with a conversation between the sun god Apollo and the god of love, Eros. Apollo asks why such a youth like Eros is carrying around weapons of war, and Eros becomes offended. Eros shoots Apollo with the gold-tipped arrow, making him fall desperately in love with the wood nymph Daphne, while he shoots Daphne with the lead-tipped arrow, making her despise Apollo. Apollo pursues Daphne and she rejects him. Daphne is soon transformed into the laurel tree, and Apollo is seen professing his love to this tree. This painting shows the end of the chase. Apollo is reaching for her, his face locked to hers. In his other hand is his musical instrument, ready to woo her. Daphne looks distressed and frightened because of Apollos persistence. The roots begin to hold her in place, beginning the transformation. In their faces, you can see the results of Eros arrows. Apollo is so focused on winning Daphnes affections that there seems to be nothing else in the world for him to do. Daphne seems so repulsed by him, you can almost hear her scream Leave me alone! just by looking at her face. These five examples really express the importance of visual art in mythology. Because we can see these pieces whenever we want, we can relive the stories whenever we want as well. They allow us to really see the thematic emotion behind each story and each god, goddess, nymph and mortal. They take the immortals and make them, well, immortal.

Internationalization Fast Fashion Retailers -Myassignmenthelp.Com

Question: Discuss About The Internationalization Fast Fashion Retailers? Answer: Introducation Marketing mix is nothing but a set of combination of several elements that go along with the marketing strategy for any company. It enables company to achieve the marketing objectives, goals, mission and vision of the company (Armstrong, 2016). This mix helps to identify the needs and clearly differentiate between the products from its competitors. It is also defined as a set of actions or tactics used by a company to promote and advertise its brand and product in the market. Basically, there are 7ps of marketing that cover the marketing mix of a company. Here, 7ps of marketing mix will be further explained using a reputed clothing brand H M. Price: Price is the total cost of value that is used for the sale of the product. It also depends on the cost of the production, targeted segments, ability of the market to be pay, supply and demand of the product in the market, and some other direct and indirect factors. Here, pricing strategy of HM is set and designed according to the needs of the customers and the needs of the customers is low price with high fashion demands. In fact, this has become one of the biggest challenges faced by the brand because it is very difficult to manage the combination of high fashion with low price. But HM successfully aimed to achieve such objective using two major steps (Pratap, 2017). First one is outsourcing the production of the products to many countries where the labour cost was very low. It helped them to achieve low cost for the product. Moreover, outsourcing of product was arranged according to different product. The high fashion products which used to target European market were mainly produced in Turkey because of the short life cycle of the product. Major products were produced in Asia because they provide long transportation time and cover reduced risk (Zozi, 2014). Second one is it conduct strict cost to control its plan. For an example. Very few top-level executives have secretaries and have mobile phone privilege which helps to incur low cost for the company. So, these were the two major steps followed by HM that helped them to achieve a low fashion business in the trending market (Shen, 2014). HM has successfully adopted a pricing strategy that has the broader pricing range which will best be suited for the customers. To maintain a median pricing strategy, they keep a lot of products with a heavy discount in it. This helps them to increase the sales volume of the product which results in creating the larger revenue for the company as well. Sometimes, it also offers discounts on its fresh stocks and proved itself as the leader in cutting costs at each possible corner. Place: Place is defined as the area where the company or the brand sells its products to its customers. HM is the ranked as the second clothing retailer across the whole world that serves the network in an around fifty-five countries. The head office of the company takes care of every aspects of the products from the production department and the planning of the merchandise. The products of this brand are made in nearly eight hundred factories which are established in Asia and Europe (MBA, 2017). Today the outlets of HM are easily available and convenient because customers are able to shop many products at one single store. The company has also expanded its locations with a very reasonable price which is easily affordable by every customer. It has also established its locations at very high-profile areas. The very first HM outlet was opened in `947 and today it manages 3500 stores across the world. It purchases raw materials directly from its suppliers and then after the preparation, sells its products directly to the retail outlets. It has also offered online digital platform to its potential customers where customers can go through all the products in their leisure time and buy the desired products ordering via internet. HM logistics are simple, reliable and transparent (Mo, 2015). Basic products are made in Asia while fashionable products are made in turkey. The products that are produced in Asia are transported by ocean to incur low cost. While in Europe, all the goods ar e transported by railway. So, 90% of the transportation are done via rail or ocean. Air is very rarely used because it charges a lot to bear the cost. HM uses direct distribution channel for the sell of its goods i.e. from producers to customers. It does not involve any intermediaries and aims at cutting the middle transaction. It also aims at ensuring at delivering its products with a quicker time. Since, HM refreshes its product on daily basis, it assures basic access to its customers and manages the command from headquarter to the outlets effectively (Kotabe, 2014). Promotion: Identifying and understanding the target audience is basic rule to develop the promotional strategy by any company. HM target audience are very young women who are fashion obsessed and who wants more fashion cloth at low price. Promotional strategy includes advertising, internet promotion, and sales promotion. Moreover, HM promotional strategy is highly consistent with the whole marketing strategy (Mastro, 2017). Today, customers need high fashion with low price which is offered by HM. basically, the promotional actions of HM focuses on major two factors i.e. It is quite easy to find the posters and hoarding of HM which are available in fashionable style and price tagged always with the clothes. If we see the price tagged in Zara or Gap, they are always seen small but HM always focuses on putting the price at the very obvious position which can easily be seen and observed by the customers (Biew, 2017). HM also aims at conducting an eye catching promotional events where they invite famous fashion designers who design clothes for them. For example, HM had invited Karl Lagerfeld in 2004, McCartney in 2005 and many more. This helped them to create the brand image and generate public awareness in the mind of every customers. Promotional activities of HM have been successfully revealed high ability to gain quick response from its customers. HM has also appointed watchdog who will look after the working condition of the place and conduct protection which will increase the brand image (Lu, 2014). Product: HM is one of the most reputed and trusted clothing brand with thousands of retail outlets across the world. The core varieties of products under this brand are clothing and accessories for both women and men. Those sections include dresses, basic jumpers, vests, pants, jeans shirts, shoes, purses and jewellery. The brand focuses on both the quality as well as maintaining low price. They launch new product lines in regular intervals which enables the customers to get fresh product. At least 25% of the stock in the company includes fast fashion products and younger generation finds the reasonable price with latest fashion trends (HM, 2011). They basically focus on the young range of segments which results in the huge amount of sales of products. Special designers design the clothes for the company with increase the brand image. HM also sells home textile sand decorative products which is refreshed and updates time to time. HM has also launched beauty product line in it in 2015 which sells both beauty and makeup products (Bhasin, 2017). Cheap Monday: it serves both sexes in terms of fashion and style. It influences street fashion style and encourages youth to buy its products. The core product of this brand is denim rage which is sold at reasonable price. Monki: IT aims at targeting at young women but sells fashion clothes for all ages. The products of this brand are found inspiring and innovative in todays era. People: In order to get success in the market, HM has places its customers on the first priority. Customers must be served first to achieve success. Customers should be satisfied and they should be taken into highest consideration. HM have managed to conduct several training programs to train their staffs who deals with the customers. They are well trained to act and behave the customers wants them to behave. The service team needs to be fully aware about the latest technologies and keeps themselves updated. They should help HM how to penetrate the market and gain the maximum profit. If customers will be ill treated or if they will not be entertained, they will avoid demanding the particular brand and slowly and gradually the image of the brand will diminish in the market. So, it is vey important to makes the customers happy and satisfied with the products they buy (Campaign, 2015). Since HM aims at focusing on the low price with fashion clothes, it assures to create more number of happy customers towards it. Physical Evidence: Physical evidence is nothing but the way of presenting the goods which are available for sale purpose. The presentation of goods plays a very vital role because it is the only way a customer sis attracted towards the product and gives a choice of purchasing it. Majority of people judge the product by the way they are displayed or the way the shop is arranged. If the display of the goods is attractive, they will automatically buy the goods. Likewise, they also make sure to present their staff in a well-mannered. HM have well trained their staffs so they are quite representable and well behaved. Since, HM is providing the online digital platform, it is also very important that the website looks nice and all the required information must be presented on the website clearly. Customers who would prefer online shopping must not find any difficulties in shopping online and should get all the required information on the website only. Process: The process of HM brand is very simple, realistic and transparent. It basically focuses on the customer services. The process of the HM is highly involved in the research and development. It is also highly involved in the IT team which constantly supports the team and provides assistance (Ho, 2017). It aims at keeping all the website updated and managed and focuses on gaining the attention of the maximum customers. The process chain of the HM does not involve any middle person because it manufactures the product and sells directly to the retail outlets. It uses railways and ships for the transportation because it causes minimum cost as compared to other modes of transportation (Hansson, 2011). Partnerships: There are basically two major owners of the brand HM i.e. foreign owners and Swedish owners. Foreign owners 23.8%of shares and remaining 76.2% of shares are owned by Swedish owners. The major shareholders of this brand are The Stefan Person family and related companies, The Lottie Tham family and related companies, STATE STREET BANK AND TRUST OMNIBUS, Didner Gerge Fonder Aktiebolag and many more (HM, 2018). Major issues of marketing mix involved in HM brand Although marketing mix is the way of providing a basic and important framework, it is not enough to work according and gain detailed marketing strategy. Sometimes it creates several problems. The problem in HM is found majorly in two aspects. First, marketing mix requires adjustments in particular business environment and the second one is it is nothing but more like a backbone instead of blood to the company because it provide clear and suggestions in more detailed format. From the given above analysis there are 7ps which helps to identify the components of marketing mix of the brand HM. But it is again not important that these 7ps will work for every organization in the similar way i.e. they might not be equally important in different business. For an example, the stock of inventory is least important in the cosmetic business (Harrison, 2011). Here in the case of the famous brand HM, the marketing mix is insufficient in managing and maintaining interaction with its customers. The interaction with the customers include contribution to various factors like better product design or better customer services or better customer satisfaction or better involvement in solving the queries of the customers. It failed to interact with its customers and the customers were dissatisfied with the product offered by the brand. Moreover, HM has faced a major issue in the advertising technique used by them.it was a racist advertising campaign which was really offending among the customers and around the world. It created lots of obstacle and degraded the image of brand in the minds of customers. While advertising the product, the brand used a young black child who was wearing a hoodie printed coolest monkey in the jungle (Blow, 2018). People started reacting on it and raised their voice against it. The quote represented that it was tone deaf and filled with lots of racist undertones which was not totally accepted by the customers. HM apologized for it and worked for it to remove the advertising form the internet. They also worked on proving that it was not done intentionally neither it was done to focus any racism segments or target any of the color but it didnt work out. They were deeply sorry for the product image presented (ABC, 2018). The other main issue related to the brand was the low price. The customers who are fashion obsessed and who go for the quality products will definitely not think before investing more rather than buying the cheap products. HM offers products at low price though the products are fashionable. The HM has huge variety of products sold at a very reasonable price which are easily affordable by the middle segments of customers. The major competitors of HM are Zara and mango. Since they are luxury brand, they offer products with higher price and higher quality as compare to HM. customers who would be given choice between HM and Zara will but obvious choose Zara because of the quality they offer. Here, price will be the second priority when it comes to fashion. Customers today will look for good quality and is happy to pay for it. So, keeping these things in mind, HM should aim at focusing on the quality issue because the quality offered by it is low with low price. Likewise, other issues involves promotions and advertising. Since, there was a major issue involved due to racism, the online digital marketing of the brand has been reduced. The online platform is less preferable by the customers which has already decreased the sale of the products offered by them through internet. Similarly, HM has very low advertising and promotions campaigns involved in it (Pasquarelli, 2018). It promote its products but needs to work ore on it. It should focus more on the several campaigns and create more public awareness programs so that customers will be more aware about the product and will be more inspired to buy the product. Other issue involved is process issues. HM uses ocean and railways for the transportation of its products. Ocean and railways are used as the modes of transportation because it reduces the cost incurred in the logistics. The cost incurred in railway and ocean are very low as compared to the cost involved in other means of transportation. It takes lots of time to get the products delivered via railway and ocean. The delivery time taken to reach the product from the factory to the retail outlet is very high which creates issues in the overall process of the brand. The stock will not reach the destination at the allocate time and will result in low availability of the products as well. Recommendations Since, the target customers for the brand is from 18-24 that only represent the young male and female. It does not target other segments of people. So, it is recommended that it should start targeting audience of all the ages and start launching the products for all ages. It should offer products that will be available for kids as well as middle aged persons. Other major recommendation is related to price. HM offers product with low price which targets middle income people. The people whose income is average will definitely prefer such brand but what about the people who prefer high quality and happy to pay high amount for it. The major competitors of HM are Zara, Mango and Forever 21. They offer high quality products with high price and most of the people prefer it. But when it comes to HM, it offers low price which does not target people with high income. So, it should start targeting people with higher income and manage in producing the product with high quality and higher price range. The modes of transportation involved in HM are railway and ocean. It takes long delivery time to reach its products from the factory to the retail outlets. So, in order to reach product on time, it should start using other modes of transportation as well to reduce the delivery time. The above mentioned recommendations if followed can help in building a strong relationship with its potential customers. It will also help HM to create a positive image in the minds of customers and increase the overall sales of the company as well. Conclusion Thus, it can be concluded that HM has successfully maintained its sustainability in the market as well as in the minds of the customers. Today customers are happy with the brand and their likes are increasing on daily basis. They have proved themselves in providing the fashion trends to the customers with a very reasonable price. Moreover one of the great thing offered by this brand is that it offers the same product and operations in all of their markets which enables them to provide more sustainable future References ABC, (2018), HM issues new apology over 'Coolest monkey in the jungle' hoodie with black child, viewed on 1st February, 2018. 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