A Similar Theme in Works of Neoclassical and Romantic

The genesis of Neoclassical Art and that of Romantic Art thrived in close proximity as far as chronology was concerned.Neoclassicism or Neo-Classicism marked the revival of Classical interests in literature, visual arts, music, theater and architecture between the mid-eighteenth and the nineteenth century. Mainly canonical works of ancient Greek and Roman times were reproduced by the neoclassicists, but not without experimenting with their own impressions and improvisations. Maintaining the tradition of a culture which was rich and opulent in the past was a major objective of the neoclassical craftsmen.But the Romantic genre of decorative and performing art, which hit the scene in the eighteenth century Western Europe, was a trendsetter in its own rights. While neoclassicism dealt with the resurgence of the antique ideal that was conceived of by Virgil, Raphael and many other eminent artists, the Romantic Movement was a reaction against the severities of reality and rationalization. Naturalistic cultural expressions were regained and given newer dimensions by the neoclassicists.On the contrary, the Romantics escaped from the sternness of routine life by delving into fanciful musings on nature in its untamed form. The point of resemblance between both these movements can be found in their dealing with aesthetics of art and subjective virtues. This essay is going to compare and contrast between two archetypal artworks from the eighteenth century Neoclassical and Romantic genres.The eighteenth century Europe was woken up from a slumber of inertia when the German art historian Johann Joachim Winckelmann showered accolades on the ingenuity and authenticity of the ancient Greek sculptor in his essay Gedanken à ¼ber die Nachahmung der Griechischen Werke in der Malerei und Bildhauerkunst (Thoughts on the Imitation of Greek Works in Painting and Sculpture), published in 1755. While this treatise concerned only the Neoclassical frameworks of art, our proposed course of study in this paper is going to be based on finding a common theme from the Neoclassical and the Romantic era.The basic problem in doing so is to excogitate a way to match the sublimities of ancient Greek tastes and preferences with the realism of the Romantic Europe. Subject matter, style and period played a pivotal role in shaping the vision of the neoclassical artist.[1] Moreover, fastidiousness over maintaining the class is a definitive neoclassical approach. Now if we take into account the cultural influence as well as the artistic nuances of a given work of art, we are unlikely to appreciate it insightfully.[2] These two parameters are independent of each other in that the former has nothing to do with the artist’s vision and objective.The cultural precondition exists in the subconscious of the creator while he goes about his business with the brush and the canvas. The same holds true for the Romantic artist as well. Sublimity, as claimed by Prager,[3] is essentially a romantic quality. The Romantic preoccupation with aesthetics analyzes the underlying meaning of the theme which is being worked upon, and makes a differentiation between sublime and beautiful. But the paradigmatic cases of neoclassical painting do not distinguish between these two viewpoints. By and large, what stands out in any typical neoclassical artwork is its chastity of emotion and lofty ideals that are reflective of the root source and time.Mother of the Gracchi by Angelica Kauffmann is widely regarded to be a representative work of the eighteenth century neoclassical age. Being a trained and well-cultivated painter, Kauffmann was extremely scrupulous about the subtleties of expression and proper treatment of the theme.Hence, Mother of the Gracchi goes beyond the lifeless imitation of a Classical theme at a latter period. Drawing inspiration from the classical Greek and Roman history and literature, Kauffmann repudiated the ancient characters and replaced them with modern one s. The settings too were changed so that the modernistic charm of the neoclassical period could be retained.Revered as an exemplum virtutis (example or model of virtue),[4] this artwork superseded the more flaunty and playful rococo style both in the gravity of theme as well as in taste. This painting thematically concerns the virtue of Cornelia, mother of Tiberius and Gaius Gracchus. It displays motherly affection in its most profound manner as Cornelia is seen bringing her two sons as jewels to a visitor who is seated.The Romantic artwork we have picked up in our present study is Alexander Cozens’ paintings. Just as Kauffmann belonged to a learned community of painters, Cozens too was aware of the systematic and accurate drawing procedures from the very beginning of his career as a painter.His works were largely influenced and shaped by his prolonged academic tenure in Italy, where he had to make topographical pen and wash drawings in oil. The salient features of Cozensâ₠¬â„¢ works included â€Å"speed and spontaneity in execution† along with a firm focus on the subject at hand.[5]While it is a daunting task to compare and contrast between two entirely different schools of painting, it would be worth taking a look, first of all, at the similarities. In many ways, Cozens’ works captured the pastoral beauty of nature in its unblemished form. Albeit Kauffmann addressed to a historical theme, she portrayed Cornelia as emblematic of Mother Nature.Moreover, Cozens’ drawings continue to evoke a sense of awe and bewilderment among contemporary critics for their taste and sublimity. Like Kauffmann, he too was able to convey his powerful feelings by using select washes of a few basic colors.Now if we are to look into the contrasting aspects of the Neoclassical and the Romantic artworks, we should be beginning with the cultural remnants of the Classical times that shaped the neoclassical attitude towards painting. It was imperative that Ka uffmann should incorporate the Roman architectural patterns in Mother of the Gracchi – a compulsion Alexander Cozens did not have to pay attention to.Again, the spontaneous flow of emotions, which is so typical of the Romantic movement at large, are missing in the neoclassical paintings. It was as if the neoclassicists were more preoccupied by the exactness of form than by imbibing a sense of freedom and expressionism into their works.Much in sync with the prerequisites of the Romantics, Cozens was a visionary poet who could blend colors with subtle use of light and shade to render a mystic charm to his works. But Kauffmann had to follow stricter rules and norms set by the earlier trends of the Classicism. However, the use of symbolism was more prominent and effective in Mother of the Gracchi and other neoclassical works than what was observed in the works of Cozens.[1] Kleiner et al., p. 767 [2] Binkley, p. 12 [3] Prager, p. 93 [4] Kleiner et al., p. 767 [5] Murray, p. 227

The Global Cement Industry and Cemex’s Penetration Strategy Into International Markets

The Global Cement Industry and Cemex’s Penetration Strategy into International Markets My report argues that demand and capacity creation in developing economies is a major driver in the global cement industry, which given the nature of the product (high transportation costs arising from its bulk) is prone to major company expansion by mergers and acquisitions. Cemex’s expansion strategy focuses on merger and acquisition (M&A), mainly exploiting its expertise of operating in difficult institutional environments and taking advantage of opportunities arising from difficulties in developing market economies.The company successfully adapts best practice and technologies from its acquisitions throughout the wider company. My report begins with definitions, presents an overview of the global cement industry (section two) key players in the industry (section three) and M&A trends (section four). I then analyse Cemex’s entry strategies by exploring in turn the regions in to which it has expanded (section five) drawing conclusions on its penetration strategy. 1Introduction and definitionsCement is a binding substance, which sets and hardens independently binding other materials together. It is intended for use in building or construction material and can withstand varying environmental conditions. About 75% of cement production is used in ready-mixed concrete to be utilized in construction. The remaining 25%, Portland Cement Association (2009) shows, is used for paving roads or extracting oil. As Selim and Salem (2010) indicate basic raw materials for cement production are iron, aluminium, silicon and calcium.Normally cement is divided as Portland cement, Portland cement blends and non-Portland hydraulic cements. Portland cement, which can be roughly divided into White Portland and Gray Portland, is the most commonly used type as it is the basic ingredient of concrete (Cemex, 2013a, PCA, 2013). There are two different processes used in the manufactur e of cement – dry process and wet process. In the wet process, the raw materials, after properly proportioned, are ground with water, thoroughly mixed and fed into the kiln in the form of a â€Å"slurry† (containing enough water to make it fluid).In the dry process, raw materials are ground, mixed, and fed to the kiln in a dry state instead. In other respects, the two processes are essentially alike (PCA, 2013). However, the dry process was considered to be more sufficient than the wet one since it consumes less energy. On the other hand, the dry process requires more investment in equipment and plants. Cement manufactures in developing countries have widely adopted the wet process but the transformation to the dry process is underway on a large scale. 2An overview of the global cement industryThis section discusses the nature of the global cement industry, including the market size and market potential, the nature of cement products, market supply and demand and relat ed environmental issues, to provide a broad view to understand the nature of competition. The following are the main characteristics of the global cement industry. Huge market – especially emerging markets Cement is the primary and indispensable material in infrastructure construction for every country. Although it only accounts for around 6–13% in construction costs (Chandramouli, 2012), there are few substitutes for it (Wesley, 2009).Hence there is a potential huge global market with strong contracts between developed and developing countries. While the developed countries mostly have steady and limited demand for cement, the developing world is a more promising market, as a result of large-scale constructions: the demand of cement is positively correlated with a nation’s economic development. World demand for cement is growing by 4. 7% per annum reaching 6% growth in 2012, with total consumption of 3. 78 million tons (CW Group, 2012).Consumption in developing countries drives this growth in Latin America, Central and Eastern Europe, and the Middle East regions; China is the strongest driver. In contract, consumption in Europe has been stalled and the growth rate of consumption in the US is a steady 2%. Therefore, developing countries are the main drivers of the growth in cement demand – a trajectory likely to continue. Cost is dominated by oil price and transportation Due to the specificity of cement products, in the cement industry, oil price and transportation cost are dominant factors affecting cost.The cement industry is energy intensive and thus fuel costs is the most critical part in cement manufacturing, constituting 35% of total cost of production (Das, 2011). Therefore, the fluctuation of fuel price, especially oil price, has impacts greatly on production cost. During the first quarter of 2012, the oil price had kept rising and was 12% up by the end of 2011. At that time, the cement industry increased prices to cover hig her fuel cost. In June 2012, Caribbean Cement Company Limited increased the price of bagged cement by 9. %, and the company claimed that its ex-factory was still among the lowest in five other regional markets. Cement is, clearly, a type of high weight-to-price ratio product and it is usually purchased in bulk. As a consequence, transportation expenditure is relatively high and restricts the spatial reach of markets. It is more feasible to produce cement domestically or to import cement products from neighbouring countries to reduce the transportation fee. Hence, the scale of international cement trade is small (5%-7%) when compared with total cement production worldwide (Selim and Salem, 2010).The demand of cement can be unpredictable Since cement production is largely dependent on infrastructure constructions, as Wesley (2009) argues, national construction polices and projects drives demand: sales volume is more sensitive to construction levels than to price. Over the long-term pe rspective, changes in social factors such as population and economic growth also affect cement consumption. The residential day-to-day demand for cement can be uncertain; it may be disrupted by unexpected situations such as bad weather (Wesley, 2009). Constantly related with environmental issuesAlthough cement is locally produced in most cases, the impact of cement production is global, especially its environmental aspects; as Selim and Salem (2010) argues. The mass production with high-energy consumption brings pollution, producing 5% of the world’s total emission of greenhouse gases Loreti (2008) and Uwasu et al. (2012) estimate This pollution is produced mainly in developing countries, which are the main production locations of cement. China alone, being the world’s leader in carbon dioxide emission and cement production, has 15% of its emission contributed by cement the World Resources Institute (2008) suggests.The environmental issue becomes extremely urgent and p ushes major global players to set up stricter emission standards on the cement industry. 3Top players and in global cement industry The table below shows the largest 20 cement producers in the world. It can be seen that top global players in this industry are either from Western Europe or from emerging markets, especially China. Rank| Company/Group| Country| Capacity (Mt/yr)| No. of plants| 1| Lafarge| France| 225| 166| 2| Holcim| Switzerland| 217| 149| 3| CNBM| China| 200| 69| 4| Anhui Conch| China| 180| 34| 5| Heidelberg Cement| Germany| 118| 71| | Jidong| China| 100| 100| 7| Cemex| Mexico| 96| 61| 8| China Resources| China| 89| 16| 9| Sinoma| China| 87| 24| 10| Shanshui| China| 84| 13| 11| Italcementi| Italy| 74| 55| 12| Taiwan Cement| Taiwan| 70| -| 13| Votorantim*| Brazil| 57| 37| 14| CRH**| Ireland| 56| 11| 15| UltraTech| India| 53| 12| 16| Huaxin| China| 52| 51| 17| Buzzi| Italy| 45| 39| 18| Eurocement| Russia| 40| 16| 19| Tianrui| China| 35| 11| 20| Jaypee***| India| 34| 16| Table 1 Global cement companies 1-20 ranked by capacity Source: Global Cement Magazine, 2012 * Includes 15Mt/yr of capacity from Cimpor shares. * Cement capacity calculated from clinker capacity assuming clinker factor of 95%. ***As in April 2012. Table 2 indicates top cement producing countries – again, fast-developing countries are the main force driving cement production. Rank| Country| Capacity (Mt)| 1| China| 2000| 2| India| 210| 3| USA (inc. Puerto Rico)| 68. 4| 4| Turkey| 64| 5| Brazil| 62. 6| 6| Russia| 52| 7| Iran| 52| 8| Vietnam| 50| 9| Japan| 47| 10| Korea, Republic of| 46| 11| Egypt| 45| 12| Saudi Arabia | 44| 13| Thailand| 36| 14| Italy| 35| 15| Mexico| 35| 16| Germany| 33| 17| Pakistan| 30| 18| Indonesia| 22| 19| Spain| 20. 7| Other countries (rounded)| 480| | World total (rounded)| 3400| Table 2: Top global cement producing countries by installed capacity (2011, estimated) Source: Mineral Commodity Summaries 2012 From the tables above, it can be concluded that China is the leader in both cement production and consumption due to its large scale infrastructure construction and fast development, representing more than half of the world’s total consumption. India follows China as the second largest consumer while also having large producing capacity. The United States is the largest cement consumer in the developed world. Major M&A trends As the Economist (1999) illustrates, larger players in the cement sector frequently undertake mergers and acquisitions (M&A) domestically and globally, to increase market share and benefit from economies of scale. The Economist goes on to argue that this high level of M&A activity is driven by the nature of the cement industry since cement production is localised and transportation costs are high; thus global producers need to purchase local companies to enter new markets, especially when a domestic market is saturated or in downturn.Since the 1970s, the cement industry in the developed world has bee n saturated and there is little space for market expansion. Developing countries have consequently become the target market for expanding new capacity and seizing market share a trend clear since the 1990s. The industry is therefore becoming more of a monopoly with oligarchic key players taking the important decisions, making M&A decisions, guided of course by changing economic and market conditions. In the 1990s, global cement giants saw great opportunities for M&A and competed to purchase market share in rapidly developing markets at good prices.For example, the Mexican Peso crisis (1994) resulted in a currency flight to US dollars and Peso devaluation, a situation Cemex turned to their advantage, Wesley (2009) argues, by purchasing Latin American cement companies at undervalued prices. Similarly, after the Asian financial crisis in 1997, the Asian cement industry fell into a downturn. Global cement giants took advantage and purchased leading cement companies in the Philippines, T hailand and Indonesia as bargains.At that time, six global giants purchased seventeen of the nineteen Philippine cement companies leaving Lafarge, Holcim and Cemex controlling 88% of the nation’s cement capacity. When the regional economy recovered, Cembusiness (2006) suggests, the price of cement rose again quickly and these multinational giants benefited from huge profits in Southeast Asia. 5Cemex’s entry strategy into international markets Cemex is currently the world’s third largest cement producer headquartered in Monterrey, Mexico.Although Cemex founded 107 years ago, it had been a domestic player for its first 80 years and did not start its global expansion until the 1990s. Its M&A progress has been remarkable: it now operates profitably in 50 countries in the world with 44000 employees and annual sales of US$15. 14 billion (Cemex, 2013a). In general, as Hill (2008) points out, a firm’s entry modes into foreign markets include exporting, contracts (licensing or franchising), foreign direct investment (joint venture and wholly owned subsidiary, including M&A) and strategic alliances.As discussed above, global cement giants, including Cemex, mainly enter foreign markets through M&A. Specifically, as a global player from an emerging market, Cemex needs to build its own competitive advantage during its internationalisation processes to cope with its disadvantageous competitive position vis-a-vis companies from developed countries. In short, Cemex is diversifying its market position through internationalisation (Liu, 2013). As Cemex’s expansion history extends spatially, I now turn to discuss its entry strategies into the global market by regions, which are shown in table 3. Cement production capacity (Million metric tons/year)| Cement plants controlled| Sales (millions of US dollars)| Mexico| 29. 3| 15| 3,474| United States| 17. 1| 13| 2,521| Northern Europe| 11. 9| 7| 4,729| Mediterranean| 18. 8| 12| 1,719| South, Central America and the Caribbean| 12. 8| 11| 1,745| Asia| 5. 7| 3| 505| Others| -| -| 445| Total| 95. 6| 61| 15,139| Table 3: Global review of Cemex’s operations As of December 31, 2011 Source: Cemex Annual Report 2011 Europe Europe was Cemex’s first step in global expansion.In July 1992, as Wesley (2009) reports, Cemex acquired two of the largest cement companies – Valenciana and Sanson – in Spain, with Valenciana becoming its regional hub holding company for all of Cemex’s future international acquisitions. However, significant movement into Spain, Europe did not become the main destination of Cemex as this region had limited potential for growth. More importantly, European players such as the French Lafarge and German Heidelberg controlled the European region.These European giants had advantages of scale, market share and advanced technology. What Cemex needed was not only the action of acquiring: it needed the advantages of the post-merger integratio n to catch up and improve. After purchasing Valenciana and Sanson, Cemex integrated its two Spanish subsidiaries by merging and streamlining the organisations and improved its technological and operational implementation. Cemex’s other substantial step in Europe was the purchase in 2005 of RMC, the world’s largest producer of ready-mixed concrete based in the UK.With this acquisition Cemex doubled its size, adding 20 mainly European markets (Cemex, 2013a) and managed to extend its product mix, becoming top producers of not only cement but also concrete and other construction aggregate (China Cement Net, 2005). Latin America Cemex made a series of acquisitions in Latin America, benefiting from the close psychic distance and geographic proximity to Mexico. Furthermore, in the 1990s, Latin America was an underdeveloped market with a high growth trajectory.Although at that time, Latin American countries were in a turbulent political and institutional condition with poor in frastructure and limited market information, Cemex viewed these conditions as advantages Fleury and Fleury (2011) argue, exploiting its experience in dealing with chaotic market environments in its home country and captured the opportune moment of the Peso crisis in 1994. Cemex moved into Latin America, including Central America and the Caribbean, by acquisitions in Venezuela (1994), Panama (1994), Dominican republic (1995), Colombia (1996), Costa Rica (1999), Nicaragua (2001), and Puerto Rican (2002) (see Cemex, 2013a).Latin America has been an important destination for Cemex, especially in the decade since the Peso crisis. During this decade foreign cement giants divided up the Latin American market due to the collapse of local producers and Cemex gained the dominant position. After acquiring those companies, Lessard and Reavis (2009) suggest, Cemex also upgraded its administration, production and technologies in this region, exploiting learning from the company’s operation s in Mexico and Spain. Although Cemex has a noteworthy presence in Latin American countries, its production capacity in South,Central America and the Caribbean accounts for only 13. 4% of its total sales in 2011, less than its capacity in the United States, Northern Europe and Mediterranean respectively and less than half of its domestic capacity (Cemex, 2011). However, there has been a rapid increase in South America and the Caribbean since mid-2000s, as a result of higher levels of public expenditure on infrastructure, industrial and commercial development and housing construction (United Nations ECLAC, 2007).Hence Cemex controls its closest emerging market area, with the exception of Brazil. The USA The United States, unlike other developed countries, remains a major consumer and producer of cement products; however, few its cement producers are American-owned. In the 1970s, Wesley (2009) points out, when Cemex was a domestic firm, most US cement producers were already taken over by European companies. Cemex’s significant incursion into US market was the purchase of American producer Southdown in 2000.Southdown was one of the largest American cement producers and it was state-owned. Cemex’s purchase followed a 20-year joint venture with Southdown called Sunbelt in 1986: following disagreements on management fees and the price of imported cement, the partnership dissolved and Southdown supported anti-dumping measures against Mexican producers (Wesley, 2009). By late 1990s, Southdown was making profits from its upgraded plants and lower costs whilst unsatisfactorily performing on the stock market, enabling Cemex to buy Southdown for $2. billion in November 2000 (Cemex, 2000), becoming North America’s largest cement producer, obtaining Sothdown’s advanced production capacity and markets and circumventing anti-dumping duties. Another Cemex step into North America (Black, 2007) was the purchase of the Rinker Corporation, an Australia- based concrete maker that had about 80% of its sales in the US, notably increasing its share of the U. S. concrete market. Asia Cemex turned its attention into Asia after 1997, seeing the potential in Asian growth and M&A opportunities following the financial crisis in southeast Asia (Wesley, 2009).In the next few years, Cemex made acquisitions in the Philippines, Indonesia, Thailand and India. Following rapid economic development and large-scale construction in Asia, by 2011 Cemex only managed to have the capacity of 5. 7 million metric tons in this region, representing only 6% of Cemex global capacity. Cemex failed to gain significant market share in China and India, the two largest Asian cement markets: the company continues to pay attention to the burgeoning Chinese and Indian markets (China Cement Net, 2005), however, institutional restrictions inhibit its growth.Indeed, the cement industry in China has excess capacity following slowdown in construction growth: many cement plan ts having been built during the boom. Currently Cemex does not have specific expansion plan of for China although it expresses a lot of interest (China Cement Net, 2006). In India, Cemex is more positive and in negotiations to acquire several Indian producers. Middle East and Africa (MENA) In 1999, Cemex acquired Assiut Cement Company, the largest cement producer in Egypt, started operating in Africa and increased its capacity following acquisitions (Wesley, 2009).Cemex also has operations in Israel and United Arab Emirates. The total presence in Middle East and Africa is limited since the African cement market is underdeveloped and as Digital Cement (2010) point out, the MENA cement markets are locally controlled. In summary, Cemex’s expansion into the global market is not only the strategic choice about competing and bidding for acquisitions, but also the integration process that ensued, as an opportunity to drive change, and as a result, continuously evolve as a corporatio n (Lessard and Reavis, 2009). 6ConclusionsCemex’s penetration strategy is shaped by the nature of the product and structure of the industry. Since cement is bulky and costly to transport global-global entry strategies are unavailable to it. The industry structure reflects the product in a wide array of regional-scale producers. Like other major players in the industry (such as Lafarge, Holcim and Heidelber) has sought to penetrate international markets by M&A rather than direct investment, strategic alliances or licensing. Another characteristic of the global cement industry is that developing economies are the drivers of demand.Often these markets remain difficult to enter being overly regulated, protected or subject to corruption and political interference. Cemex uses its origins in a developing market as an advantage: the company has expertise in overcoming these barriers, knowledge it has successfully exploited in numerous markets. Additionally, Cemex has taken advantage of other adverse trading conditions in its target markets (Asian financial crisis, Peso crisis) to conclude M&A deals when target company prices are depressed. Bibliography 1. Black, T. , 2007.Cemex Wins Control of Rinker With $14. 2 Billion Offer (Update3). [online] Available at: . 2. Chandramouli, R. , 2012. Cement contributes to less than 10% of construction cost. The Times of India. [online] Available at: . 3. Cembusiness, 2006. (The opportunities in the cement industry under the upsurge of international industrial capital M&A). online] Available at: . 4. Cemex, 2000. Annual Report 2000. [PDF] Available at: [last accessed 28/02/2013]. 5. Cemex, 2011. Annual Report 2011. [PDF] Available at: . 6. Cemex, 2013a. About us. [online] Available at: . 7. Cemex, 2013b. Product and Services. [online] Available at: . 8. China Cement Net, 2005. â€Å" †Ã¢â‚¬â€Ã¢â‚¬â€? CEMEX †¢ (The master of acquisition – interviewing Armando Garcia, executive director of Cemex). [onli ne] Available at: . 9. China Cement Net, 2006. Cemex (Cemex clearly expresses its interests in the Chinese market). [online] Available at: . 10. CW Group, 2012. CW Group: Global cement demand to reach 4bn tons by 2013. CemWeek. [online] Available at:

Wal-Mart Business Model Case Study Example | Topics and Well Written Essays - 750 words

Wal-Mart Business Model - Case Study Example It set-up giant all-in-one stores in small towns which quickly gained patronage because of the service that Wal-Mart associates provide and customers are able to buy the products they need in one convenient place. Today, Wal-Mart is the world's largest retailer with $345 billion in sales, with more than 176 million customers per week visiting its more than 6,500 stores worldwide, 61,000 suppliers and providing more than 3 million American jobs. (walmartstores.com 2008) Wal-Mart's continuing success may be attributed to Sam Walton's foresight in including information technology in its business model to facilitate organizational innovation. As early as 1966, Walton was recruiting IT professionals from IBM to help him wire his company. This led to innovations in just-in-time inventory, choreographed logistics and warehousing. (Beckham 2002) Wal-Mart's business model mandates that it provides the products and services that customers would want to buy. With the company's enormous data warehouse which includes customers' purchases, Wal-Mart knows what its customer wants and "it provides merchandise and designs its stores according to customer preferences." (Felgner 2006) In support of its objective of customer satisfaction, through technology, Wal-Mart is able to process more than 20 million customers per day, with credit card approvals done in less than a second. (Scheraga 2004) In 2000, Walmart.com was founded. Aside from fostering the ideals of its parent company, its additional goal is to provide easy access to more Wal-Mart with "more than 1 million products available online" and innovative services such as Music Downloads and Photo Services which allow customers to order online and pick-up at the nearest Wal-Mart, all available to Wal-Mart's customers 24/7. (walmart.com 2008) In 2001, Wal-Mart worked with NCR for the design and deployment of kiosks in the stores to help customers scan in items for bridal and baby registries, an innovation to improve customer service. According to Walton, "People think we got big by putting big stores in small towns. Really, we got big by replacing inventory with information." (Beckham 2002) In its industry, Wal-Mart is acknowledged for its legendary replenishment and forecasting system which Ron Ireland, one of the people who built it, says is what "retailers are scrambling to do today what Wal-Mart achieved years ago." (Hickey 2006) Because of Wal-Mart's use of technology, its inventory accuracy is above 96% vs. 70% for other food retailers. Wal-Mart has improved in-stocks, reduced holding inventory, reduced manual intervention and achieved much greater profit margins, according to Ireland. (Hickey 2006) All these cut down Wal-Mart's cost of operations and contribute to lowering selling prices for its customers. With Wal-Mart's employment of technology and e-Business practices of integration and synchronization among connected players, it is able to achieve operational efficiency and revenue enhancement, according to Ralph Drayer, former vice-president of Procter & Gamble. (Hickey 2006) "Wal-Mart's success is due not just to computers, but many other things besides: the late Sam Walton's entrepreneurship; his strategy of avoiding early competition by 'putting good-sized discount stores into little one-horse towns which everybody else was ignoring"; his insistence on saturating one area with stores before moving on to the next; his drive to keep costs

Universal Healthcare in the United States Term Paper

Universal Healthcare in the United States - Term Paper Example To be noted is that as a concept, universal health care does not simply imply the coverage of individuals for all risks i.e. one-size-fits-all conceptualization. Rather as Navarro (1989) portrays, it is determined by three fundamental dimensions – those covered; services that are covered, and what amount of total costs (accrued), are covered. Health care systems are in a majority of states funded through mixed models of funding. Generally, revenues accrued from taxation do compose the primary funding source, with most countries supplementing the revenues with specific levies. This is essentially by way of a mix of private and public contributions thereby ‘spreading’ the costs over a larger population. Compulsory insurance is a key avenue of enhancing universal healthcare, usually enforced by way of legislation in given jurisdictional arenas. This may thereafter, necessitate citizens to purchase their insurance; but in many cases (in effect), it is the government that provides such insurance, as part of its social welfare responsibilities. Examples of compulsory insurance contexts are exemplified by both the U.S. Patient Protection and Affordable Care Act, and the Swiss Healthcare system. In the U.S., the crusade for some form of universal healthcare (government-funded) is traceable to the 20th Century with advocacy of the same facing different obstacles despite close success. While other developed states had initiated some form of social insurance, proponents in the U.S. continued facing hurdles, especially as a result of the federal government (then), leaving each state to its own doing. The different states in turn left such matters to voluntary and/ or private programs, based perhaps on the lack of national legislation. It is however during the Progressive Era that major undertakings took place, with reformers working on enhancing social conditions for the growing working class (Navarro, 1989). Unlike

Consumer Product Survey Assignment Example | Topics and Well Written Essays - 1750 words

Consumer Product Survey - Assignment Example A typical example of this is that when a shop wants to conduct a survey to collect information from its customers, all customers of the shop is regarded as part of the population. But if the company decides that it will engage customers who come to the shop on a designated day from 9 am to 2 pm, the number of customers who fall within that description and part take in the survey is referred to as a sample. The sample is also very important because based on how the selection of the sample is done, the research may be either valid or invalid, or reliable or unreliable (Creswell, 2013). To use the survey as a credible research process that can help in bringing about the benefit of collecting informed and decision making information, it is recommended that certain key procedures and guidelines be followed. One of such critical guidelines is the need to ensure that the sample size represents a sizeable proportion of the population (Sapsford and Jupp, 1996). This is necessary because the responses from the sample size are always generalized to represent the entire population (Saunders, Lewis and Thornhill, 2003). It is also important to ensure that there is as much fairness in the selection procedure as possible so as to ensure internal validity or reliability of the survey (Remenyi et al, 1998). one way to achieve this is by using a random sampling technique. Then also, the actual instrumen t that contains the questions from which respondents are going to answer to is very important. There are key principles that must be followed in the construction of the questions so as to ensure that the survey is able to achieve the goal for which it was set. It is in line with this that the critical analysis presented below is undertaken.

Public Relation Plan Assignment Example | Topics and Well Written Essays - 3250 words

Public Relation Plan - Assignment Example By November 2005 it had 443 supermarkets and 287 convenience stores. For decades this chain of stores was number one in the UK market. It lost its position against TESCO in 1995. It reached to third position behind Wal-Mart owned ASDA in 2003. The reasons for this were better strategies adopted by the other two companies than Sainsbury, leadership and customer satisfaction. In today's scenario one's daily life is full of examples of services. When one think about service, service marketing triangle or rather pyramid comes to his mind, which has following components in it. The first part of the paper covers the situation analysis for Sainsbury. It includes competitor analysis and SWOT analysis. These two factors are important for any marketing, media or publicity decisions. This self-analysis and market analysis gives an opportunity to list all the factors important for the organisation. A good analysis throws light on various issues and topics, which can be utilised successfully for the publicity purpose. The next section deals with the target public section. This group deals with the fraternity group towards which the publicity plan will be targeted. According to this target group the publicity plan will have message, mode and timing of communication. Client strategy includes the message, objectives and other details of publicity plan. At the end the budget related to the publicity plan would be discussed. II. Situation Analysis Sainsbury has faced various marketing conditions. One time leader had reached to third position in the market. Any strategy to make a new brand is easier as compared to re-establishing any brand. The media group has not been favourable for Sainsbury till 2005. This is a strong influencer for all readers and audience. The current favourable scenario from the media group is one of the good signs for Sainsbury. Sainsbury can in cash this opportunity along with other strategies. II.i. Competitor Analysis As per the news on Guardian appeared on March 2006, the big four - TESCO, ASDA, Sainsbury's and Morrisons account for nearly 75% of the 95bn UK grocery market. The main competitors for Sainsbury are TESCO and ASDA. These two chains of stores are leading Sainsbury. TESCO TESCO has more than 30% market share of UK grocery market. It is more than double of its nearest competitor ASDA.TESCO is market leader in UK.240, 000 people are working for TESCO. "Tesco now has 100 Extra hypermarkets, 446 superstores, 160 Metro stores, 546 Express neighbourhood stores, and "over 500 other fascia-ed stores not judged worthy of the Tesco name but that still bring in

FINANCIAL MANAGEMENT hw Essay Example | Topics and Well Written Essays - 750 words

FINANCIAL MANAGEMENT hw - Essay Example invested in this cash conversion cycle, which assumes a 365-day year and are as follows. Inventory = ($10,000,000 *.075 * (60/365) = $1,232,877 + Accounts receivable = (10,000,000 * (40/365) = 1,095,890 -Accounts payable = (10,000,000 * 0.75 *0.65) *35/365 = 467,466 $1,861,301 =Resources Invested Changes in any of the times period will change the resources tied up in operations. If MAX could reduce the average collection period on its accounts receivable by 5 days, it would shorten the cash conversion timeline and thus reduce the amount of resources MAX has invested in operations. For MAX, a 5-day reduction in the average collection period would reduce the number of resources invested in the cash conversion cycle by $136,986 [$10,000,000 *5/365]. This answer is appropriate because the cash conversion cycle is a basis for discussing how the firm funds its required investment in operating assets. First, differentiate between permanent and seasonal funding needs and describe aggressive and conservative seasonal funding strategies (Gitman, 2009). 17. Mad Money CNBC Jim Cramer always believes that there is a bull market somewhere. Jim Cramer wants to help his audience find it. Inside the mind of Jim Cramer, is a report from one of the most successful traders on Wall Street. His goal is to help the watching audience make money on Wall Street. Cramer's Internet site is here to provide Internet users with updates throughout the day of Jim Cramer's Stock Picks. The site provides recaps CNBC's Mad Money. Jim Cramer also sells collectibles on his site. The mad money store has several items of interest to his viewers are sold, for example the talking Jim Cramer bobble head character. If a viewer misses, an episode he tapes them every week and the video will appear on the website, Under Jim Cramer Video collection. Jim Cramer this week visited with his viewers about the deal with T-Mobile and ATT. He referred to this as a good stock buy for this week but warned viewers to w atch the trends on the combined companies. He highlighted the problems revolving around the Middle Eastern crisis. Cramer suggested how to eject them out of power. and how having the United States in the involvement of war with Kaddafi is fueling higher prices, therefore putting a barrel of oil out of everyone's reach. The economy depends on the Middle East oil until the United States authorizes use of the United States own reserves. Japans nuclear crisis is slowly stabilizing, and the country must at the present time focus on repairing the damage wrought by the devastating earthquake. Cramer mentioned the continued barrage of bad news is endlessly bad, therefore making investors fearful. Continued pessimistic approaches to the news are keeping stock prices lower. Although gold and silver, continue to climb. The show will attract more investors, which are trying to day trade or are simply trying investing on their own for the first time. The present economy serving only the rich