A Day That Never Happened Before free essay sample

â€Å" I am the greatest!† Four simple words but and great sentence. Most people strive hard to earn the right to say or write these words in honor of his name- including myself. Who would not want to be great? The answer is everyone of us. Yes! I darely believed that not one of us would not want to be equally great as Albert Einstein or Leonardo Da Vinci. Some even want to be a superhero like Superman or Spiderman. Another question to be considered is how to become great. You should not worry because I have one good experience that would tell you how to become equal to the greatest. One good day in my quiet simple life as a young man, I woke up with   vivid smile in my face. My friends were at the kitchen preparing some food for our adventure set on that day. You should have imagined right now how excited I was that time. We will write a custom essay sample on A Day That Never Happened Before or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page We were set to invade one of the highest waterfall in our place.   How’s that?   What I am excited about are not the things that are planned to be done but the inevitable consequences that might occur which would go beyond our control. After all, we all wanted adventure. The place was equally august as expected. The height of the waterfall was recorded at approximately two hundred feet and the depth of the pond that catches the water was too enough to advise to wear lifejacket all the time to ensure our safety. I call the basin of the waterfall a pond. The water was bluer than the sky and green was around. Truly beautiful. A raft was made available for those adventurers who would want to get into the foot of the waterfall where a small cave lies. The raft was craftily made using bamboo trunks and bigger than big plactic barrels tied by a big rope. The plastic barrels are used to prevent the raft from sinking. The raft can contain as many as thirty people of different weights. Just imagine what kind of fun it could offer. It works going to the foot of the waterfall by pulling a big rope against the current of the water which one end tied inside the small cave and the other end tied at the gigantic trunk of a tree naturally positioned at the opposite side of the pond. Proper pulling and maneuvering of the raft is the only key to get into the small cave unless a good number of people providing strengths to go against the strong current of water coming from the majestic waterfall. Aside from rafting, rock climbing can also be enjoyed at the place. What is more exciting in rock climbing is when to get to the highest prescribed weight to be climbed is the next thing you are more likely to do†¦jump! It is just about thirty feet above the surface of the cold water. For a first timer like me, it would be the most breathtaking moment of my life. I was looking at the grandeur of the setting and felt relaxed. All the tiredness I earned from hiking two kilometers and making four hundred twenty-nine descending steps just to get into the nature’s gift were vanished. My friends feel the same thing. All the good emotions I could afford to find were all there. Little did I know that one of the best experiences is already taking place. I did not hesitate to try everything and all are worth trying. Fascinating. The best part of the adventure is seeing myself riding the raft with three of my friends. Two of them are girls. I guess you could know how exhaustive it is. I was in front with my guy friend and the two girls were at our back for support. Our goal was to beat the record of five folks who successfully made it to the cave earlier that day. While doing the chore, the girls fell off one after the other from the raft. The current was so powerful that made it very hard for us to do the grip at the big rope. The girls did not give up. They climbed back to the raft and started pulling again. They are really determined to test their endurance. The tension was all over us. My palms were already pink because of the pressure it exerted against the rope. I agree that pink is better than red whish is the color of the palms of my friends. All of us tried all positions while pulling the rope just to have the maximum force we could ever put to it. Before we decided to reach the small cave, I was just contented pulling the rope against the current just to get through the middle of the pond and when we get there we stop pulling, try to relax by having a safe ride to where we come from by just going with the current. You must take note that getting into the middle of the pond is already fulfilling. Try to think how fulfilling it is to reach the cave. What am I thinking? I convinced my company to try going into the cave. Convincing people is one of my expertise and that was the easiest part. We are doing it. After so many attempts, I was so desperate and decided to quit. I already accepted that the four of us could not do it. Two of my good friends decided to quit pulling too. Unfortunately, the other girl was still pulling despite seeing sitting down and trying to calm our palm. She fell off from the raft twice, pulled her back and still pulling. She continued doing it without saying a word or even looking at us. I was surprise with her courage and determination and eventually became inspired. The next moment I saw myself pulling again with a stronger grip ignoring the pain in my palm. I gained determination. The other two did the same and we are back in form. I gazed at her, felt charmed with her splinded smile. A stronger pull, better grip and much cooperation finally made us achieved what we wanted. We reached the small cave. I was so happy but the happiest was my female friend. At the other end of the pond, some people overwhelmingly clapped. I take the clap as a gesture of felicitations and salutations to the four of us who tried and tried and succeeded. After that, we rest ourselves at the comfort of a safe ride. I sat at the raft smiling. I was still overwhelmed with what we have accomplished. I was thinking deep and realized that the whole experience at the raft carved a life-changing lesson in my heart and soul. When I decide to get into the cave and do something courageous, it taught me that life is indeed taking risk. You can not achieve what you want in life if you refuse to take the risk. When taking risk you should be well-equipped with courage, faith, determination and a little bit of inspiration. My female friend has it all. She inspired us. She is the reason why we reached our goal. A deeper thinking convinced me that courage, faith, determination and an inspiration are the qualities one must have to maximize his potential and become great. Courage and faith conquer fear in taking risks. Determination, on the other hand, keeps you going despite all disappointments and desperation that you will encounter. Finally, an inspiration would give you the comfort that what you are doing has worth. Life is always mysterious. You need to decipher its mysteries even in simple things like rafting or climbing or just walking. When you are able to understand what life is all about, greatness is within reach of you hand.   Absolutely, it was a day that never happened before and I doubt if it would happen again. I was glad that when it did, it taught me a lot about life.

Relationship Marketing and Customer Retention

Question: Discuss about the Relationship Marketing and Customer Retention. Answer: Introduction Morrison has been appeared to be a grand-market, which was introduced in UK. It was recognized as greatest series of huge market acquiring fourth position globally as compared to other reputed brands such as Asda, Sainsburys, and Tesco. This grand-market was established previously counting 100 years. Earlier than it was just a booth located in the market named as Bradford. Morrison was also recognized as the venture of family and has reached triumph throughout the longer period. Starting with a little booth till hypermarket, it reached till a phase of development and reached success. Currently, Morrison operates over 450 outlets globally and has appeared as the greatest food suppliers. William Morrison introduced the organization and thus it takes his name Morrison. Their chief firm is situated in Bradford, UK. Currently, Morrisons head is Andrew Higginson and David Potts is their CEO. In this firm, there prevails a custom arrangement, which is being followed by this firm and that is known to be a Market Street. Morrisons ventures atmosphere is considerable as it is completely different and unique from other rivals. The value proposition regarding the individual actually seems to be sort of business that would basically a marketing statement that would assist in defining the requirement of purchasing the product and service for the utmost benefits. It would aims and targeting the esteemed customer requirement. Morrison would require the value proportion as it would be assisting in rectifying the problem and support in accomplishing the requirements or goals. It would certainly require the value proportion to draw the distinction among the value that you provide and value they will be receiving from somewhere else. It would help in creating the value proposition by accepting the business that would be lending the product and thus occupying the fourth largest supermarket in United Kingdom. Moreover there are various different relationship concepts that would enhance the absolute value proposition of the innovative loyalty card that would be adopting by Morrison for gaining the profitable market sh are. Therefore, it would include the explained evaluation regarding the customer value chain that would be discussing in the discussed report. After reviewing the report, there would be appropriate solution to the discussed topic along with the examples. Relationship marketing and customer retention Methods to maintain customer by relationship marketing:- As considering methods, there exist really several forms, which can be implemented by a firm for maintaining their purchasers along with the assistance of relationship marketing. And the crucial concentration of relationship marketing is based upon the devotion of their clients as well as the extensive period connection of shoppers fairly than the petite period connection (Business Insider, 2015). Methods that can be implemented by the firm are: By locating clients outlooks The finest method to maintain the clients within a firm is to maintain the hope of the customers extremely than ever previously. By locating the anticipation previously assists in decreasing the doubt to the service level in which a firm can verify that their customers are satisfied. By appearing to be the professional It is also recognized to be other method by which clients can be maintained. Firms are relied upon the facilities to operate their functions. Rather, firms should become more skilled in their sector by which they can maintain their clients. Whether a firm appears to be more faithful advisor after routinely there exists client devotion that may surely decrease the clients mix. A firm would recognize the issues clients are dealing with for creating trust. Creating trusts by relationships In a firm, a good connection plays crucial role for maintaining the list of clients. Customers would belief their firm and then only they will attain success. A firm might also pay a lot of attention towards their customers and positivity with their connection to clients. Currently, competitiveness prevails in a huge manner in the market very conveniently offering the facilities for the client is inefficient, as they should too have to create shared feelings along with the customers for offering them good sense and acquiring back again. Through applying email business operation Firms should message their active clients just for one time in a period and should let them know regarding the latest facilities as well as the updates connected to the firm. By this method, the relationship among the firm and the client is maintained; and by this the client as well as the organization may experience values (Donald and Jennifer, 2004). Through initiating a blog It assists in creating a connection with the clients. As regarding to the blog, it consist a facility by which the firm can write or update their achievement every week basis. Clients can also provide their feedback and suggestion regarding the firm on such blogs by which a firm can view further to the issues of the clients they are dealing with, and by easily fixing all of them. Through this method, the clients experience values and they seek to maintain the same one in the firm. Through facilitating clients facility It is considered as the most effective method for maintaining clients is through the client is by augmenting the clients facility (Thomas, 2001). Generally every client leave their firm by the result of frustration with the facilities and for retaining the contentment between the facilities and clients should be augmented. Implementation of CRM model CRM structure is generally defining client connection administrative structure and consist several implementations in vast range of sectors. CRM model is effectively applied in hotel business. Hotels may result to struggle with several reputed names in the industry for retaining their position as well as to draw other clients towards them and the most crucial factor is to maintain their previous market. CRM assists in drawing the fresh clients as well as it also encourages contentment and devotion between clients. It can also assist in maintaining the clients and develop the ventures methods as well as the outcomes (Martin, 2015). CRM structure can be applied in medical fields also. This structure can also be implemented in medical centers and result to assist in developing the simplicity for the prices (Knox, 2003). Moreover, it also assists in the administrating the medical centers and also assist in the application the strategy of healthcare administration and sale campaign. This structure is helpful for the assessment of this firm because it assists in the reinforcing the concentration of the client and moreover assists to struggle further well along with erstwhile rivals. CRM structure also assisted this firm in fine consideration of the clients and moreover the preference of the clients, their choices as well as the purchasing pattern of every human being. Further, applying this structure for the assessment Morrison can also be capable to decrease the price of the gaining regarding the clients, great development in the client facilities. Most significantly, there will surely be client maintenance and thus devotion of the client regarding the firm also gets augmented. Benefits also appears to be developed and there exist apparent recognition regarding the beneficial clients as well as the customer outcomes. There also exist resemblance among the client maintenance as well as the industrial connection as every ways assist in maintaining the clients. Industrial connection assists the venture in containing the lengthier period connection with the clients by offering them the finest facilities, hence the client can be devoted to the venture and maintains regarding the venture maintenance also gets raised. Also their wishes fulfilled by the firm or the ventures easily satisfy the client maintenance, the client. Idic Model For evaluating the study regarding the connection mediators, the firm recognizes several constructs with identical explanations, which functions beneath various assumed name and creates with identical names. Rogers and Peppers developed IDIC model. This structure describes that a firm should always approach four methods for retaining their customers and keeping the lengthy period connection along with the clients. Four activities which should be implemented can really be customized, interacted, differentiated, and recognized. In a firm, for creating client value by supervised connections as well as finest approaches client experiences, the firm should recognize clients, segment them, relate with them, as well as modify few features of their characteristics regarding them. Assessment of client connection administration method: Assessment of Morrisons Morrisons is generally a hypermarket firm, which is located in the UK. The basic nucleus positive point of this firm is which it offers new products over the nation containing extremely great excellence (Buttle, 2004). The method Morrison encourages their newest advancement; clients appears to be greatly know regarding the food quality as well as the atmospheric apprehensions. Due to the huge supervision on their contribution series it offers making it more spirited benefit in the industry. Morrison applies several various features to separate themselves from other rivals. Individual among them is the client facility. In this form a firm can segment themselves from other rivals. This firm approaches easy facility plans by offering the finest client facility and Morrison basically encourages their executives in the atmosphere themselves along with other rivals just for the contending the industrial share. This firm provides the finest goods and facilities along with the assistance of Industrial Street and therefore there exist huge client maintenance. Furthermore other firm lacks to execute in a proper manner. This firm also spend during the entrepreneurship as well as growth plans regarding the executives and resulting to offer excellent class client facility produced that might draw great number of clients. Hence, clients of Morrison are pleased by getting the facilities they get. Morrison also comprised their rivals Lidli and Aldi regarding the cost comparing deals. Inbond Lojistics Morrison would be following the vertical integrated chain value that would occupy the number of abattoirs, bakeries and various pack houses of the vegetable and fruits. There would be benefit that represents the manufacturing facilities of Morrison which was in close proximity toward the distributor center even allowing the reduction of foods miles and reducing the cost as well. The advantage of such would be offering to the customer for meeting the utmost benefits and advantages that would meet the target expectation of the group and would be including the high perceived value therefore the customer would stay back in the company for long term. It is in general explaining the fact that it would synchronize the detailed firms and the method that would be imply in the tedious operation, moreover explaining to more easy it is a business sense that would be logistic that means involves the logics and the flow of management system in order to acquire the defined goals in the midst of sta rting point and consumption or destination end for meeting the expectation and need of customer regarding the corporation. The facility tradition can be appear to be prevailing in a firm only when a facility based and clients interest emerges as the most significant rule in the form. Several organizations have maintained the aims of being client-oriented, rather some tend to consist extremely instilled the tradition in the firm for making it to emerge it as the essential part of company. The corporate tradition is the group of basic standards and values contributed by the internal atmosphere of the firm. In general language, it can easily be explained that the internal atmosphere within the firm is totally dependent on the inbound values of customers. Operations Morrison would be meeting the expectation and demands of the customers as rapidly being available and would be reacting as per their requirement to reach the appropriate objective. The process would be increasing the efficiency of the company in order to attain the great position in the cut-throat competition. They would be only focusing on the requirement that customer requires for better benefit of sales demand. They would make and transport product which would be in demand. The product would be fresh with the minimum amount of wastage. Morrison even facilitates the farmers by acquiring the fresh milk from them. It would be great advantage that would aim in the cost-saving and freshness that has been enclosed in their product. The proper execution would be playing a deliberate role in getting the optimum result and thus simultaneously reducing the risk of failure with utmost secure system Outbond Logistics There would be quick delivery of product from the source of warehouse to shops and even from the growers to the shop. There would be more than 15 million matters of facts that has been discussed in the given case study and would foster the need of improvement to attain the great position. When there is a comparison among the other competitor, the distribution armada in excess of 700 tractors which is extremely speedy turnaround time in midst of placing and delivering the product. This Company would be reducing the carbon footprint by cutting the distance of travelling, Marketing and sales There is a high profile advertising campaign that Morrison have highlighting the high profile advertising campaign and would promote the social responsibility along with the use of charities that would be sponsoring, (Smith, 2011). With the sales demand, there would be an opportunity to explore the reach and delivering the significant role for attaining the great level of customer satisfaction. The marketing and sales are the two prospects that would be aiming at market and method to accomplish the position in the cut throat competition by delivering the great value to the customer with the advancing tools and proper planning strategy. Firm Infrastructure Morrison would be supporting entire stakeholder that would be including in the company, the top most priority of Morrison is corporate responsibility. The infrastructure would be supportive in making the environment a pleasing place through which you can deliver great value to the organization and help in accelerating the demand to be motivated toward the work. Value proposition differs from company to company and from product to product. There are many ways of relationship marketing concepts that can be applied to increase the value which would include digital marketing and physical marketing that would involves a large number of customer and understanding the need to significantly demonstrate the role and responsibility. Proposition of Morrison. The rewards and the value would be giving to customer should be of the great value through there is a strong membership through which the customer would be attracted by company. The advantages which would be offering to the customer for meeting the utmost benefits and advantages that would meet the target expectation of the group and would be including the high perceived value therefore the customer would stay back in the company for long term. If the customer is not satisfied with the customer and with the requirement to draw the reference through the case study. There would be several terms that has been incorporated in the following factors:- To expand and enhance the value proportions Morrison has considered some trustworthiness cards for making sure that customer feel the encouraged and shop from their several stores. There has to be an appropriate selection of reimbursement. There would be advantages that are of two types and would be able to establish the long term relationship. The process would involve the ways that would be moving toward the customer acquisition to the individual, the customer retention and the development would be toward the customer. On the other hand the structure would include the factor regarding the performance of employee and managing it to be having a great customer relationship with customer. According to the case study Morrison has followed CRM value chain model in their business environment and have adopt all the approaches and take of the requirements and opportunity of the purchaser. This business even completed loyalty cards so that to be a focus for many customers. For attaining the great level of customer satisfaction there would be proposed study and understanding the factor that would aim to work with utmost consideration and deliberation to accomplish the goal. Conclusion With the completion of task 2 regarding the supermarket company Morrision have been conversed in detail. In the discussed report, the value chain of customer along with the value proposition of company that has been explaining in customer value chain method for describing the environment of the company. With the help of CVC model the 5 primary stages in relation to customer would be outlining by the author Buttle which would offer the clarification of vital is to have the relationship with the customer that would be generating the greatest value to the company. Morrison also makes use of several relationships that would be supporting the total value of proposition. There are certain ways which would be adopting by Company for enhancing the value proposition and thus report clearly describes the model that would be to define the culture and concept along with environment that would be associating with the Morrison. This would be solution to the proposed and discussed questions. Recommendation Morrison should try ornament ling the market share with the help of conventional stores. Morrison need to give proper consideration that would help in increasing the stakeholder number and would be more competitive advantage in the market. The Diversification of product length is supposed to be there as this will assist in pull towards you the numeral of customers of dissimilar groups. There should be proper price proposition regarding the product would have proper focus to meet the requirement. With the escalating international market, Morrisons should get bigger their business in additional countries as well this will lend a hand in cultivate their business References Morrison, Alastair M.; Taylor, Stephen; Morrison, Alison J.; Morrison, Allison D. (1999) Cognizant Communication Corporation. Information Technology Tourism, Volume 2, Number 2, pp. 97-113(17) Developing Buyer-Seller Relationships. American Marketing Association. F. Robert Dwyer, Paul H. Schurr, Sejo Oh(Apr., 1987). The Journal of Marketing, Vol. 51, No. 2 11-27 East versus West: A comparison of online destination marketing in China and t... Ruomei Feng; Alastair M Morrison (Dec 2003); Joseph A Ismail Journal of Vacation Marketing; 10, 1; ABI/INFORM Global pg. 43 Buttle, F. (2004). Customer relationship management: concepts and tools. Oxford: Elsevier Butterworth-Heinemann. Thomas, J. S. (2001). A Methodology for Linking Customer Acquisition to Customer Retention, Donald, R. L. and Jennifer, A. S. (2004). Valuing Customers, Journal of Marketing Research 41(1) 718. Martin, (2015). Better Targeting your Customers with CRM Value Chain Model. [Online] Cleverism. Available at: https://www.cleverism.com/crm-value-chain-model-better-targeting - customers/. [Accessed on: 07/03/17]. Business Insider, (2015). Here's a way retailers can grow customer loyalty. [Online] Business Insider. Available at: https://www.businessinsider.in/Heres-a-way-retailers-can-grow-customer-loyalty/articleshow/47531243.cms. [Accessed on: 07/03/17]. Pepper, D. and Rogers, M. (2004). The IDIC Methodology. [Online]. Available at: https://wikimemoires.com/wp-content/uploads/2011/06/IDIC-Methodology.jpg. [Accessed on:07/03/17]. Walsh, S., Gilmore, A. and Carson, D. (2004), Managing and implementing simultaneous transaction and relationship marketing, International Journal of Bank Marketing, Vol. 22 No. 7, pp. 468-483. Sweeney, A. and Morrison, M. (2004), Clicks vs. Bricks: Internet-facilitated relationships in Financial Services, International Journal of Internet Marketing and Advertising, Vol. 1 No. 4, pp. 350-370. Stauss, B., Schmidt, M. and Schoeler, A. (2005), Customer frustration in loyalty programs, International Journal of Service Industry Management, Vol. 16 No. 3, pp. 229-252. Reinartz, W.J. and Kumar, V. (2003), The Impact of Customer Relationship Characteristics on Profitable Lifetime Duration, Journal of Marketing, Vol. 67 No. 1, pp. 77-99. Buttle, F. (2000). Gartners CRM Model. [Online] Academia. Available at https://www.researchgate.net/publication/228396256. Greasley, A. (2009). Operations management, 2nd edition, Wiley. United Kingdom. Buttle, F. (2009). Customer Relationship Management, Concept and Technologies, New York, Routledg. Bolton, Ruth N. (1998), A Dynamic Model of the Duration of the Customer's Relationship with a Continuous Service Provider: The Role of Satisfaction, Marketing Science Piccoli, Gabriele and L. Applegate (2003), "Wyndham International: Fostering High-Touch with High-Tech" Bottomley, P. P. and Holden, S. (2009). Do we really know how consumers evaluate brand Extensions Journal of Marketing Research, 38, 494 50. Ingram, D. (2013). Outbound Vs. Inbound Logistics. [Online] Chron. Available from: https://smallbusiness.chron.com/outbound-vs-inbound-logistics-77016.html. Baziotopoulos (2008). "An Investigation of Logistics Outsourcing Practices in the Greek Manufacturing Sector". PhD thesis. McGinnis M. A., Military Logistics: Insights for Business Logistics, International Journal of Physical Distribution Logistics Management Mallik, Susan (2010). "Customer Service in Supply Chain Management". Misra, M.I. Kahn, U.K. Singh, Supply Chain Management Systems: Architecture, Design and Vision, North American Business Press 2010 Boxx, R. (2015). The Challenge of Retaining Customers. [Online] CBMC international. Available https://www.cbmcint.com/the-challenge-of-retaining-customers Smith, PR. And Zook, Ze. (2011). Marketing Communications, Integrating Offline and Online With Social Media. London. Kogan Page.

Supply and Demand Case Study Cabbage Patch Kids Essay Example

Supply and Demand Case Study: Cabbage Patch Kids Paper Turning the Supply Chain into a Revenue Chain Turning the Supply Chain into a Revenue Chain by  Gerard P. Cachon  and  Martin A. Lariviere †¢ Print †¢ Email †¢ Purchase Article FEATURED PRODUCTS [pic] Guide to Getting a Job by Gill Corkindale, Daisy Dowling, David Silverman, et al. $19. 95 Buy it now  » [pic] Management Tips: From Harvard Business Review by Harvard Business Review $18. 00 Buy it now  » [pic] Lords of Strategy: The Secret Intellectual History of the New Corporate World by Walter Kiechel $26. 95 Buy it now  » †¢ Email †¢ Share †¢ Print In the summer of 1997, movie fans ? cked to their local Blockbuster video stores eager to rent The English Patient and Jerry Maguire, only to find that all ten or so copies of each had already been checked out. Blockbuster shared their frustration. It knew it was annoying customers and losing sales. It wasn’t that the company didn’t know how many copies it could have rented; demand could easily be predicted by looking at theater receipts. And it wasn’t that the company was inefficient at getting tapes into stores and returning rented tapes to shelves; its buying and replenishment processes were fine-tuned. The problem was that at $60 a copy, Blockbuster couldn’t afford to stock the number of tapes it needed to serve every customer, only to replace the mall a few weeks later with copies of the next hot movies. Its suppliers, the movie studios, had to charge a high initial price to earn enough revenue themselves. But at $3 per rental, Blockbuster had to rent a tape more than 20 times to earn a profit. Given that peak demand for a title lasts only a few weeks, the company couldn’t justify buying enough tapes to even come close to satisfying initial demand. We will write a custom essay sample on Supply and Demand Case Study: Cabbage Patch Kids specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Supply and Demand Case Study: Cabbage Patch Kids specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Supply and Demand Case Study: Cabbage Patch Kids specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The studios’ high wholesale price limited availability, and no one—not the supplier, not the retailer, not the customer—was happy. But in 1998, Blockbuster solved the problem by radically changing the way it paid its suppliers. It agreed to give the studios a share of the rental fees in return for a much lower up-front price on tapes. Here’s how it works. Suppose the supplier charges only $9 per tape instead of $60 but receives 50% of the rental revenue. Even though Blockbuster keeps only half of the revenue, or $1. 0 per rental, it breaks even after each tape has been rented a mere six times. It can now justify purchasing many more tapes. Having more tapes means more potential rentals. Combined with the drastically lower cost, this translates into a significantly higher profit for Blockbuster. For the movie studio, increased tape sales and the added revenue stream also result in more profit. Everyone goes home happy. (For a look at a plausible profit scen ario, see the exhibit â€Å"The Economics of Revenue Sharing. †) [pic] The new arrangement paid off immediately for Blockbuster. In the year after starting the program, the company increased its market share by about 5%, which roughly equaled the share of the number-two retailer, Hollywood Entertainment. Now, revenue sharing is common throughout the industry. Our research indicates that revenue sharing will work for many products but only when two conditions are met. First, the cost to produce the additional units must be less than the incremental revenue they generate. If it is, a greater availability will increase supply chain profits, so both parties will be better off. In the video rental industry, making a movie is xpensive, but copying a tape is cheap. Consequently, the supply chain can double or quadruple inventory, and the resulting revenue rise will easily cover the additional production cost. This condition is not satisfied in all markets. Chrysler could increase revenue by expanding supplies of its PT Cruiser, but the costs involved would be prohibitive, and the greater availability might end up und ermining the car’s cachet. The second criterion is that the administrative burden associated with revenue sharing must be small enough that the cost of running the program doesn’t eat up all the gains. For the video rental industry, this is a minor concern. Suppliers need only link into the point-of-sale systems that even the smallest video retailers already use. We suspect there are other industries whose products and services satisfy these requirements and for which revenue sharing would also work well. Consider, for example, distributing music in digital formats. The expense to copy a file is essentially zero—far less than the value it creates for customers (remember, we’re focusing on the incremental cost of expanding supply, not the sunk cost of creating content). The market is also likely to grow substantially with improved availability. Many customers find a list price of $18. 97 for a CD daunting when all they want is one song. Digitally distributing individual songs provides an opportunity to expand total industry revenues. Finally, monitoring usage is simple and easy if records are centrally maintained. In this light, Bertelsmann’s deal with Napster makes tremendous sense: Napster’s centralized structure allows for revenues to be tracked, and its 38 million users allow for rapid expansion of the market. [pic][pic][pic][pic][pic][pic]

Collective Bargaining Definition

Collective Bargaining Definition Collective bargaining is an organized labor process through which employees negotiate with their employers to resolve workplace problems and disputes. During collective bargaining, the concerns and demands of the employees are usually presented by their union representatives. Agreements reached through the bargaining process typically establish terms of employment such as wages and hours, benefits, worker health and safety, training, and the grievance resolution processes. Contracts resulting from these negotiations are often referred to as a â€Å"collective bargaining agreement,† or CBA.   Key Takeaways: Collective Bargaining Collective bargaining is a function of unionized labor by which workers negotiate with their employers to resolve problems and disputes that could otherwise result in strikes or work-stoppagesIssues involved in collective bargaining often include wages, benefits, and working conditionsThe result of collective bargaining negotiations is a mutually binding contract or Collective Bargaining Agreement or CBA Brief History of Collective Bargaining in America The American Industrial Revolution of the 1800s spurred the growth of the unionized labor movement. Founded by Samuel Gompers in 1886, the American Federation of Labor (AFL) gave many workers bargaining powers. In 1926, President Calvin Coolidge signed the Railway Labor Act formally requiring employers to bargain with unions as a way of avoiding economy-crippling strikes. A product of the Great Depression, the National Labor Relations Act of 1935 made it illegal for employers to deny workers the right to form new unions or to join existing unions. The National Labor Relations Act The National Labor Relations Act (NLRA) prohibits employers from preventing employees from forming or joining unions and from retaliating against employees for taking part in union activities. The NLRA bans so-called â€Å"closed shop† arrangements under which employers require all employees to join a certain union as a condition of their employment. While government workers, farm workers, and independent contractors are not covered by the NLRA, several states give state and local government workers and farm workers the right to unionize. The Collective Bargaining Process When issues in terms of employment arise, the NLRA requires the unions (labor) and the employers (management) to bargain â€Å"in good faith† on the issues involved until they either agree on a contract or reach a mutually-agreed stand-off, known as an â€Å"impasse.† In the event of an impasse, employers can impose conditions of employment as long as they had previously been offered to the employees before the impasse was reached. In either case, the result is often the prevention of a strike. Contracts agreed to through collective bargaining are mutually binding and, except under extraordinary circumstances, neither side may deviate from the contract’s terms without the consent of the other party. When legal problems arise during collective bargaining sessions, they are resolved by the National Labor Relations Board (NLRB), the independent federal agency assigned to deal with organized labor disputes and to protect the rights of employees by enforcing the NLRA. What Does ‘In Good Faith’ Mean? The NLRA requires both employers and employees to bargain â€Å"in good faith.† But considering the massive number of disputes claiming failures to negotiate in good faith, that go before the NLRB every year, the term is rather vague. While there is no specific list, a few examples of acts that might be found to violate the â€Å"in good faith† requirement include: Refusing to bargain with the other side about valid workplace issues.Changing or disregarding the terms of a signed contract without the consent of the other sideUnilaterally changing terms of employment.Agreeing to a contract with no intention of actually honoring its terms. Good faith disputes that cannot be resolved are referred to the NLRB. The NLRB then decides whether the parties should â€Å"go back to the table† for further bargaining or declare an impasse, leaving the existing contract in force. The Union’s Duties in Collective Bargaining Labor unions are not obligated to support all or even any of the demands of its workers in collective bargaining negotiations. The NLRA requires only that unions treat and represent all of their members fairly and equally.   Most unions have specific internal grievance procedures to be followed by workers who believe the union has failed to uphold their rights or otherwise treated them unfairly. For example, an employee who feels the union acted unfairly in refusing to support his or her demands for more overtime hours than agreed to in the existing contract would first look to the union’s grievance procedure for relief. Pros and Cons of Collective Bargaining Collective bargaining gives employees a voice. Non-union workers often have no choice but to accept the terms of employment imposed by management or be replaced by employees who will. The legally-ensured right to negotiate empowers employees to seek a more beneficial situation. The collective bargaining process has contributed to higher wages, better benefits, safer workplaces, and improved quality of life for all American workers, whether they are union members or not. On the other hand, collective bargaining can result in a loss of productivity. The bargaining process can take months and require the participation of many, if not all employees during working hours. In addition, there is no guarantee that the process will prevent a strike or work slow-down. Sources and Reference â€Å"Collective Bargaining.† American Federation of Labor and Congress of Industrial Organizations (AFL-CIO).â€Å"Employee Rights.† National Labor Relations Board (NLRB)..â€Å"Collective bargaining rights.† National Labor Relations Board (NLRB).â€Å"National Labor Relations Act.† National Labor Relations Board (NLRB).â€Å"Can I be required to be a union member or pay dues to a union?.† National Right to Work.

Legal research questions Case Study Example | Topics and Well Written Essays - 1000 words

Legal research questions - Case Study Example CCA concluded both the errors were insignificant and confirmed that the trial had proved Mr. Evan's guilt beyond doubt. The High Court of Australia allowed the appeal and ordered a new trial. The court held that errors at trail to ask Mr. Evans to dress like the robber and also not allowing his claim for alibi undermined Mr. Evan's defense and that he had not received a fair trail. The court held that there had been a substantial miscarriage of justice1. safety and health of the people as well as the environment. The identification and management of the risks associated with the GMOs and to regulate them is the prime objective of the GT Act2. For the purpose of adopting the GT Act effectively by all the states a 'Gene Technology Regulator (GTR) was established under the Common Wealth Act which authority was given power to act in each state. The national scheme governing the GMOs is regulated by the GTR3. The GTR acts independently on her own subject however to the powers granted by the Act. "Four categories of dealings are exempted from the general prohibition on dealings with GMOs"4These dealings are (a) Exempt dealings; (b) Notifiable low risk dealings; (c) Dealings listed on the GMO Register and (d) Licensed dealings (a) The Kyoto Protocol was a treaty entered into in December 1997 at Kyoto with the objective of reducing the gas house gases which result in changes of climate. As of November 2007 there were about 175 countries which have ratified the protocol framed as a result of the United Nations Framework Convention on Climate Change. (b) Australia has made an international commitment at Kyoto to be a part of the protocol and to limit the gas house emissions to 108 percent of the 1990 baseline. This projection equals to 30 percent reduction from its 'business as usual' projections5. This commitment was revised on December 2007 to the reduction of 60 percent on 2000 levels by the year 2050. (c) Prime Minister Kevin Rudd has signed the instrument of ratification in December. With this ratification the Kyoto Protocol has become the first Act of the new Government. However under the Kyoto Rules the ratification will take effect only after 90 days from the date of ratification6. Note: The Parliamentary Library in the internet website http://www.aph.gov.au/library/intguide/SCI/kyoto.htm contained useful information on the Kyoto Protocol. Further reference to the Media Release from the government gave information

Native People of North America Assignment Example | Topics and Well Written Essays - 1000 words

Native People of North America - Assignment Example This are spirits being used in the western religious practices and pueblo cosmology. There are personification spirits of things existing in the real world. It can represent anything in the natural world from location, concept, and revered ancestor to an element or a quality. There are more than 300 kachinas in pueblo culture. Real Hopi katsinas/kachinas have changed to suit the contemporary world. Today, curving have been termed Hopi katsinas/kachinas for business purposes changing the meaning and originality of the culture of the Hopi people. Natchez are Native American people who are believed to have a Mississippi origin. They have unique language that has isolated them from their close relatives. They have a distant resemblance to the Muskogean languages. Thus, their unique language is a facet towards maintaining their originality. The other unique characteristic of the Natchez is the unusual social system. The system is composed of exogamous marriage and nobility classes. The Menominee Indian Tribe of Wisconsin was given the rights to the nation by the government’s legal process known as the Indian Treaties. These treaties were granted by the house of congress. Congress vested its powers to overthrow all the historical Indian treaty legislation. This took place when they refused to agree to its promise of granting the Menominee Indian Tribe of Wisconsin treaty rights to own their lands in 1830. The congress legislation to eliminate the Menominee Indian Tribe of Wisconsin overrode all Indian Treaties. This is an example of plenary authority. Their accomplishments are preserving their native culture and language, improving their educational opportunities and protecting their environment. 3. Reservation gaming helps nationwide collection of revenues from fee charged from gaming projects. This revenue is used to build schools and colleges as we as investing in drug and alcohol treatment programs. 2. Despite that

Textile Assignment Example | Topics and Well Written Essays - 250 words - 1

Textile - Assignment Example tant to check the dry cleanability of plastic buttons for a rayon print dress because the plastic may dissolve in the dry cleaning solvent used such as perchlorethylene. The plastic becomes sticky and the buttons may attach to the fabric; hence, staining the print. Consumers should check the dry cleanability of the leather trim on a wool sport coat because the make-up of the coat may entail spandex that is vulnerable to irreversible damage when subjected to chlorine bleach. The 100% cotton whites may appear gray after dry cleaning because the heat and chemical components of the dry cleaning solvent subjected to them weakens the cellulose in the fabric; hence, the color. It is possible to restore the original whiteness by using mild soap and non-chlorine bleach to ensure that harsh chemicals do not compromise the cellulose structure in the cotton. Some garments are best cleaned by laundering and others by dry cleaning depending on the fabric structure. Cotton garments with spandex would be vulnerable to wear and tear if subjected to a chlorinated dry cleaning solvent. A 100% cotton garment may have a ‘Dry Clean Only’ label to protect its make-up from the risk of wear and tear caused by harsh environments created by the washing machine. The cellulose structure may disintegrate due to the heat in the washing machine; hence ruining the