Annotated Bibliography and Company Advertising or Online Review

Question: What do consumers believe more -company advertising or online reviews? Answer: Tarkan Remziye; the importance of creative advertising and marketing according to University student perspective. Advertising products and services by various companies inform consumers of the importance and value of the service or product they are selling. According to the author of this work, advertising is very critical in the current competitive market and creativity for customer attraction is very necessary. Some of the creativity the author mentions include proper market research, pricing, product conception and design, good advertising and distribution. However, Terkan illustrates that various challenges are encountered in the process of publicity and marketing of their products hence, companies should adjust strings to attract more consumers and increase their geographical coverage. From this context, we can be able to identify the preference of customers for products advertised by companies regarding the illustration given by the author. Oxera; Benefits of Online platforms The author talks about the importance of online platforms for advertising and reviewing products and services. Due to technological evolution, people are always interested in knowing the new product and what it comes. Active customer care experiences given online will lead to many liking a product or service of an organization compared to the silent comments about a product that is advertised by a company. This increases the reputation of one product of a company over the other. Businesses can make good use of these technological changes to make known their products. Tavor Tchai; Online Advertising development and their economic effectiveness The author mentions on the astounding events and modifications of the internet and technology. Many people have embraced its use and are part of their lifestyles. Online businesses have significantly improved over the years as a result of online marketing hence a preference for many. Online reviews provide faster access to information, in any geographical location and 24 hours a day. The author also illustrates that online advertisements are less intrusive, and conservative compared to banners and other forms of company announcements. This seems convenient by many consumers compared to business advertisements which may be are found in newspapers and billboards hence not suitable regarding availability, accessibility, and cost. This can show us that consumers prefer online reviews compared to company advertisements. Jozef Vladimir and Bartlomiej; Advertising Activity and Its Importance in Management On the Example of SMEs Enterprises The authors talk about various forms of advertisements used by companies and the characteristics with which the ads are embedded. Newspapers, radios, televisions, and banners are used, which are presently become less important to consumers due to the availability of all kind of information online. The adverts are said to be paid for, are costly which results in giving only brief information about the product, without providing finer details that may change the mind of a consumer. These can apparently lead us to the kind of media in which users will prefer. Celine ARCA social media marketing benefits for businesses: why and how should every company create and develop its social media sites? The author focuses on the benefits accrued from advertising their products on social media. Social media is ubiquitous and efficient for both the business and for the customers. The cost effectiveness and efficiency of using these sites has increased sales of their products hence the most preferred. The most commonly used sites, mentioned by the author include you tube, twitter, Facebook and blogs. References Terkan Remziye (2014); importance of creative advertising and marketing according to University student perspective. Oxera(October, 2015); Benefits of Online platforms. Tavor Tchai (2011); Online Advertising development and their economic effectiveness Jozef, Vladimir and Bartlomiej (2012); Advertising Activity and Its Importance in Management On the Example of SMEs Enterprises Celine ARCA (2012); Social Media Marketing Benefits for Businesses: Why and How Should Every Business Create and Develop Its Social Media Sites

Risk Management in Tourism - Events and Hospitality - myassignmenthelp

Question: Discuss about theRisk Management in Tourism, Events and Hospitality. Answer: Introduction This study provides a detailed analysis and description of the factors that might influence the level of risks associated with service industries such as tourism, events or hospitality industry. The risk management team of such industries develop appropriate risk management strategies to cope with the emerging risks and situations that may cause the threat to the general, personal as well as public safety. These industries hold a major position in the social, political and economical growth of a particular area or country. Thus, it is important to identify critically and analyse the factors causing a crisis and disaster situations as well as those that influence the level of risk or danger in these situations. Further, this study will help to go through the risk management and treatment options that can help reduce the level of risks that might occur in fields of tourism, events or hospitality industries. Factors that influence the level of risk at Tourism, Events and Hospitality Industry Tourism Industry Analysis Tourism plays one of the major roles for social and economical development. It is considered as one of the many leading driving forces of universal trade (Auer and Stone, 2014). The World Tourism Organization (2003) measures threats based on the security and safety of travellers, hosting groups, visitors and employees working in tourism from these following different sources: The Human and Institutional Environment factors: Common breaking of law (theft, assault, burglary, fraud, theft, pick pocketing, deception) Violence that are targeted and indiscriminate (rape, eve-teasing, harassment, etc.) Common organized criminalities (extortion, coercion, forced labour or slave trading etc) Terrorist attacks and unlawful actions, kidnapping, hijacking etc Political unrest, civil conflicts etc The scarcity of protection service facilities (Berk, 2015). Tourism and Other Related Services: Tourism Industry and other similar industries e.g. transport industry etc can endanger a visitors' personal safely and physical security or can harm them economically by: Inadequate standards for safety in tourism departments and establishments Lack of necessary defence against illicit actions, criminalities and negligency at tourism services. Fraud or deception in business transactions. Dissent with contractors. Disagreements among the employees in the industry (De Keukeleire, Descheemaeker and Reynders, 2015). Individual Travellers: According to Rashid and Robinson, Travellers might risk their personal safety in the following ways identified: Getting involved in dangerous activities or reckless driving etc Travelling with bad physical condition, and if health further deteriorates during travelling Creating conflict among neighbours with inappropriate behaviour and misconduct and violating state laws, engaging in unlawful activities. Performing unlawful activities (taking drugs etc) Travelling to unsafe places Missing personal belongings, money, important documents due to absent mindedness and carelessness. Physical and Environment Oriented Factors: The physical and environment oriented factors which influence risks of the travellers: The natural characteristics of the place or the general climate in the area does not suit the visitor They do not carry sufficient medical supplies for the trip. Carelessness in consuming eatables or drinkables while travelling thus violating personal hygiene. Travellers are exposed to various risky environments caused from physical and natural hazards and disasters. (Jangid et al. 2015). Factors that influence the level of risks at Events industry The governments and businesses are getting lots of opportunities, challenges and revenues from the events industry (Morgan, 2015). But the risk involved in such events is in constant growth. It reflects a wide variety of present-day courses as well as introduces new dangers. Cyber attack and crimes related to terrorism Environment menace Disasters caused by nature Technological glitch or mishaps Fluctuation of global power Economic threats and pandemic breakouts. Factors influencing level of risk in events industry It is possible to classify the risks involved in events industry into the following two categories Those which are man made in some way Those which are outside the scope of instant controlling i.e. the factors which cannot be handled directly or indirectly but they can decide the fate of the event whether it will be successful or a failure. Man-made factors: Minor technical glitch, e.g. power failures, disruption of machine or instruments etc can be of serious threat to the safely and security of workforces, audience or even the participants. Involvement of crimes such as fraud or theft can cause an event to be a major failure. Another set of risks that can be seen in this industry is cost overrun. Mainly large scale events or mega events involving greater infrastructure are more prone to cost overrun (Sto?rmer, Schmeiser and Maas, 2015). Factors which cannot be directly managed or prevented: There also exist a number of risks or threats which are beyond the scope of immediate control and management: The events industry has been a direct target for the terrorist attack in the past. There are a number of incidents in the history which supports the fact that there is chance terrorism might strike on the events planning or staging events industry. Natural disasters can also be a potential threat for the events industry (Campos-Soria, Marchante-Mera and Ropero-Garca). Earthquake, heavy flood or storm can be the cause of disruption of an event and might prevent it from executing successfully. Natural disasters have caused damage in the event industry in the past (Yang et al. 2014). Another factor that can influence the risk in event industry can be pandemic outbreaks or civil turmoil. Factors that influence the level of risks in Hospitality industry:- The hospitality industry is a sub division of the other broader category of industry which is the service industry. Within this industry there are a number of operations included. Few of them include hotel and restaurant industry, lodging, event planning and organising, theme parks, etc. A hospitality unit such as a restaurant, hotel, or an amusement park comprises of a number of units (Morgan, 2015). Factors influencing risks in hospitality industry:- Traditional risk factors: High costs of energy Threats of power failures or technical disruption Non-delivery or delayed delivery by outsourced partners or suppliers Theft, fraud, burglary or employee dishonesty Accidents and injuries of travellers due to illness, furthermore vandalism of personal property caused by carelessness of the customers Damage of property due to fire Breakdown of equipments The hospitality industry is exposed to various newly emerging risks which are not included in the chain of traditional risks. Traditional type of risks has direct impact on the customer service, food and beverage quality. But there are other slightly uncommon risks which are often overlooked in the industry (Jackson and Kwansa). Hotel managers and hospitality risk management teams but be aware of these types of threats by constant evaluation of their risk management strategies (Sto?rmer, Schmeiser and Maas, 2015). The hospitality industry risk managers have the threat of pandemic at the top of their minds. Aside from pandemics, the other risks that can threaten the hospitality industry are: Risks of property damage Risk in reputation Brand management risks Terrorism attack and political risk. Risk treatment option to manage crisis and disaster situation of a tourism industry, Hospitality Industry and Events Industry Risk Management options for Tourism Industry Crisis can be defined as a situation that has a long term negative effect on the operation of a business or products. Risk management can be referred to as a process which act as a guide to prepare the organization to recover from disasters. (Mathew et al. 2012) Crisis can be occurred in a tourism industry due to following facts- Poor establishment of a safety standard. Poor asepsis and disregard for environmental viability. Absence of defence against the activity which is unlawful activities and crime. Trickery in commercial transaction. Disagreement of contractor. Industrial conflict amongst the staff of the organization (Card, Ward and Clarkson, 2015).The process of crisis management in a tourism industry can be defined as identifying and assessing the disaster or risk to the organization and taking decision to recover from that crisis which should be logical as well as systematic (Frevert and Potter, 2011) The risk management treatment of a tourism industry should include the following- The management should care for the safety of visitors and also for employees of their organizations. They should develop a secure system which would be helpful in communicating with persons. The tourism industry should establish a security system for securing travellers and employees from disaster (Frevert and Potter, 2011). The management should train their employees to work efficiently during the recovery operations. They should supply sufficient resources to manage recovery operation. The industry should have procedure to get back to the normal business operation after disasters have happened. (Dionne, 2013) The process of crisis management of a tourism industry is described below- Communication and consultation This process is fundamental to the risk management. Appropriate communication ensures that the stakeholders are focussed and committed towards the process of tourism risk management. Monitoring and reviewing Establishment of context- In this step a framework is established for activities of risk management. In this some criteria are also developed in order to compare them to the risk. Identifying risk- It is defined as a systematic process where all the risks are identified which will be needed to manage. Analysing the risk- In this step the risks are analysed in order to find consequence of those risks. According to this analysis the criteria to recover from the risks are also developed. Evaluation of risk- In this process the risk is arranged according to their degree. Previous criteria for risk management will provide necessary information and depending on this current criteria have to be developed. Treatment of risk- In this step the industry assesses them to find out whether they have all the resources to implement the risk management criteria. After this process the risk management process is implemented (Frevert and Potter, 2011). Risk treatment option to manage Crisis and Disaster situation in an event industry: Event industries are responsible developing and creating large events like ceremonies, festivals, concerts etc (Gjerald and Lyngstad, 2015). The steps to be involved in the risk management of an event industry are described below- Identification of activities due to which risk can be occurred- In this step the activities in an event management industry which can cause risk is identified. Identification of risks which are associated with every activity- This step is to check whether or not any risk is associated with any activity which the event industry handles. Determining the chances of occurrence of disaster and the consequence of those disasters- This step determines the degree of severity of any risk. And also determines how they will affect the operation of the business Giving priority to the risks- In this step the management gives priority to the risks according to their degree of severity. Formulation and implementation of strategy for management of risk- There are some common strategy to manage risk like- avoidance of risk, retention of risk, transfer of risk, reduction of risk. Periodically reviewing and monitoring the risk- This is the last step in which the strategies which are adopted to recover from risk are reviewed and monitored periodically (Frevert and Potter, 2011). Risk treatment option to manage risk and disaster situations in a hospital industry: Risk management in any hospital industry is a complex process. It involves identification, assessment, and resolving risk in each area of the hospital industry. The role of risk management is a difficult process because it involves implementing new act to protect the patients and employee from risks and this process should be affordable for the industry (Mathew et al. 2012). The practices for managing risk in a hospital industry are described below- Assessing risk proactively The manager in the risk management department should assess the risk to identify the risk before it causes damages. The manager should also identify the risks that might be encountered in the operation of the business. Assessing risks help managers to make score upon the risks. They can also detect the frequency with which the risks can result from damages. Based on this assessment the managers can establish practices that would be beneficial to protect the industry from damages. Hardwiring practices for risk mitigation In order to be able to maintain an environment with low risk the manager needs to ensure that the practices which are adopted for risk mitigation are according to the standard policy. For better implementation of these practices the staffs and providers of the industry need to be educated and trained. They should provide alert in the health record to remind the staffs about the practices of the of risk management. Prioritizing of risk The manager of risk management department needs to prioritize the risk according to their degree of damage and frequency. It is a difficult task because it needs to assess and prioritize all actual risk and as well as risk which might be encountered in the business operation. Establishing a comfortable culture If all the responsibility belongs to only the manager of the industry, then this would be too much difficult for the manager to detect each and every risk associated with operation of the business. So the other staffs and providers also cooperate with the manager to find out the risk. People would feel comfortable if they can speak up about their problem which would be beneficial for the industry to detect the risk. For this the environment of the hospital industry need to be comfortable to all the members. Safety of patient is the main responsibility any hospital industry. So for this the members of the hospital industry need to make the patients and their family members feel easy so that they can easily speak up about their problem they are facing in the service provided by the hospital (Zhang, Morse and Li, 2015). Reference List Auer, J. and Stone, G. (2014). Routine angiographic surveillance for risk stratification in PCI-treated patients: fact or fiction?.European Heart Journal, 36(2), pp.71-74. Berk, K. (2015).Modeling and Forecasting Electricity Demand. Wiesbaden: Springer Fachmedien Wiesbaden. Card, A., Ward, J. and Clarkson, P. (2015). Rebalancing risk management-Part 2: The Active Risk Control (ARC) Toolkit.Journal of Healthcare Risk Management, 34(3), pp.4-17. De Keukeleire, S., Descheemaeker, P. and Reynders, M. (2015). Potential risk of misclassification HCV 2k/1b strains as HCV 2a/2c using VERSANT HCV Genotype 2.0 assay.Diagnostic Microbiology and Infectious Disease, 82(3), pp.201-202. Dionne, G. (2013). Risk Management: History, Definition, and Critique.Risk Management and Insurance Review, 16(2), pp.147-166. Dressel, K. (2015). Risk culture and crisis communication.International Journal of Risk Assessment and Management, 18(2), p.115. Frevert, D. and Potter, K. (2011).Watershed Management Conference 2010. Reston, Virginia: American Society of Civil Engineers. Frevert, D. and Potter, K. (2011).Watershed Management Conference 2010. Reston, Virginia: American Society of Civil Engineers. Gjerald, O. and Lyngstad, H. (2015). Service risk perceptions and risk management strategies in business-to-business tourism partnerships.Tourism Management Perspectives, 13, pp.7-17. Hall, J. (2010). Journal of Flood Risk Management.Journal of Flood Risk Management. Jangid, K., Doraiswamy, J., Varghese, S. and Malaiappan, S. (2015). Periodontitis as a Risk Factor for Cardiovascular Diseases- Hype or a Fact?.Journal of Cardiovascular Disease Research, 6(1), pp.24-27. Mathew, J., Ma, L., Tan, A., Weijnen, M. and Lee, J. (2012).Engineering Asset Management and Infrastructure Sustainability. London: Springer. Mathew, J., Ma, L., Tan, A., Weijnen, M. and Lee, J. (2012).Engineering Asset Management and Infrastructure Sustainability. London: Springer. Morgan, M. (2015). Our Knowledge of the World is Often Not Simple: Policymakers Should Not Duck that Fact, But Should Deal with It.Risk Analysis, 35(1), pp.19-20. Sto?rmer, T., Schmeiser, H. and Maas, P. (2015).Essays on Risk Differentiation and Price Transparency in the Insurer's Pricing Process. St. Gallen. Yang, L., Wang, H., Liang, X., Chen, T., Chen, W., Song, Y. and Wang, J. (2014). Bacteria in hernia sac: an important risk fact for surgical site infection after incarcerated hernia repair.Hernia, 19(2), pp.279-283. Zhang, D., Morse, S. and Li, B. (2015). Risk management of Chinese food companies; a management perspective.Journal of Risk Research, pp.1-17.

Sample Essay For College Entrance Exam

Sample Essay For College Entrance ExamThe problems of gender inequality in the US have been addressed through a number of efforts. One way is to use sample essays that are then used as review essays for students at various colleges and universities. These sample essays are the most commonly used samples because they are just so good, and they can give every student of every gender an opportunity to learn about gender inequality.College women have been very successful in recent years in achieving a higher education. The gender imbalance at many of the colleges and universities is attributable to the fact that there are more men who are applying to college than there are women. This has created a situation where women have to pay much more attention to college admissions, and they must make sure that they are not left out in the first round of the college admissions process.There are many ways in which a student can become aware of gender inequality in college, but it has to start in e lementary school. A sampling of gender inequality is helpful because it shows how gender inequity is ingrained in society and in institutions. These samples are free for anyone to download, and they can be used as reference materials for the college applications that students must write.There are many different samples that are available. These include some of the best essays ever written for college admissions. The essays that are used can help every student prepare themselves to write a better essay in the future.The American Educational Research Association, or AERA, has provided a tool that can be used to determine the prevalence of gender inequality at various colleges and universities. By filling out a small form with the college that a student wishes to apply to, the sample essay gender inequality can be obtained. This is an excellent tool that can show just how prevalent the problem of gender inequality is.The issue of gender inequality in the workforce is one that is gettin g attention from politicians and the media in order to prove that women should be able to handle the full-length essay that is required for college admissions. The sample essay gender inequality is a method that helps to show that gender disparity is not only a matter of when you are born, but also a matter of how you are treated. Those who are born to be discriminated against cannot win, because their educations will not be complete without the element of gender inequality.Students can fill out the sample essay gender inequality form and receive it as a PDF file. This is a very simple form that can be filled out online and submitted. The form requires the student to provide some information about their life before the submission of the form, but all of the questions that are asked will be included in the paper.The sample essay gender inequality is available at no cost to the student. If they provide the information on the form, they can provide a better essay in the future. In the meantime, the student can learn about the challenges and the inequalities that women face in society and in the workplace.

Mercedes Benzs E-Biz Solution free essay sample

The fact that we would be one of the first car manufacturers in the United States to have a factory delivery program would be seen as a very positive thing in this regard. William Engelke, Assistant Manager, IT Systems, Mercedes Benz US International, commenting on the FDRS. Linking Customers By 2000, Mercedes Benz United States International (MBUSI), builder of the high-quality MClass sports utility vehicle (SUV), established itself as a company that also delivered superior customer services. One such service was the delivery option where by the customer could take delivery of the vehicle at the factory in Alabama, US. The program called the Factory Delivery Reservation System (FDRS), enabled MBUSI to create and validate 1800 orders per hour. FDRS also automatically generated material requirements and Bills of Material1 for 35,000 vehicles per hour. The Customer Relationship Management (CRM) solution that made FDRS possible was based on Lotus Domino2 and IBM Netfinity3 server4. Analysts felt that with its innovative use of the new program, MBUSI not only managed to improve its customer relations by providing the best service, but also demonstrated its commitment to customers by making them an integral part of the process. We will write a custom essay sample on Mercedes Benzs E-Biz Solution or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Customers were, in a way linked directly to the factory floor – which was a powerful sales tool. Background: Mbusi and its Business Challenges MBUSI was a wholly-owned subsidiary of DaimlerChrylser AG. 5 In 1993, Daimler Benz realized that the Benz brand could be extended to wider market segments. Traditionally, Mercedes Benz6 appealed to older and sophisticated customers only. Daimler Benz wanted to attract customers below 40 years of age, who wanted a rugged vehicle with all the safety and luxury features of a Mercedes. Daimler Benz decided to develop a SUV known as the M-Class. It expected strong demand for the new vehicle and therefore planned to build its first car-manufacturing facility – MBUSI – in the (Tuscaloosa, Alabama) US. The MBUSI facility had many advantages. First, labor costs in the US were almost half that of in Germany. Second, the US was the leading geographic market for SUVs. Third, as the vehicles were assembled in the US, they could be distributed to Canada and Mexico more efficiently. In January 1997, the factory started production at partial capacity and by the end of the year, it was producing at full capacity. By 2000, the factory was rolling out around 380 vehicles per day. The new M-Class „allactivityvehicle represented a new concept for the company. Also, mass customization required that each vehicle be treated as a separate project, with its own Bill of Material. To deal with these challenges, Daimler Benz decided to implement an enterprise wide Information Technology (IT) system, with the help of IBM Global Services7. To further strengthen the image of Mercedes Benz in the US, MBUSI planned to deliver vehicles at the factory, becoming the first international automobile manufacturer in the US to do so. MBUSI also wanted to enrich the customersexperience. Commented William Engelke, â€Å"The factory delivery option gives Mercedes-Benz customers something that they do not get from other automobile manufacturers which is why we think the program will resonate with our customers. We think that having the factory delivery program available to Mercedes customers adds to the overall experience of the customer. † The Design of FDRS The FDRS program was proposed in the first quarter of 1998. In the third quarter of 1998, MBUSI entered into a contract with IBM. A development team was constituted with IBM Global Solutions specialists and IBM e-commerce developers, who worked closely with MBUSI. The program became operational by the first quarter of 1999. The IT team at MBUSI had a clear set of functional specifications for FDRS. However, they relied on IBM to transform the concept into an e-business solution. The FDRS was designed in such a way that customers buying the M-Class SUV could specify that will take delivery of their new vehicle at the factory. They could place the order at any of the 355 Mercedes Benz dealers in the US. An authorized employee at the dealership entered the factory delivery order the web interface. Timing was the most important aspect of the FDRSfunctionality, as it was closely linked with MBUSIs vehicle production schedule. Mercedes Benz United States of America (MBUSA)8, based in Montvale, NJ, was the first link in the FDRS program. It was the point where the dealer actually placed the order. MBUSAs role was to coordinate the distribution of vehicles to dealers across the country. Later, it had to add the order to the companys Baan Enterprise Resource Planning (ERP)9system, which scheduled the order for production. About three months before the production date, the dealer could schedule in a window, the date and time of arrival of the customer at the factory for delivery. The window was then automatically computed by the FDRS to give the dealer, the possible delivery dates. Apart from the delivery date, the customer could also specify the accessories for the car and also request a factory tour. FDRS was based on Lotus Domino (Refer Exhibit I), Lotus Enterprise Integrator10 and IBM Netfinity servers. It also interfaced with IBM S/390 Parallel Enterprise Server, Model 9672-R45 located in Montvale, NJ (Refer Figure I). There were two Domino servers – an IBM Netfinity 5500 and an IBM Netfinity 3000. FIGURE I SYSTEM ARCHITECTURE OF FDRS Source: MBUSI The former that acted as the „internal Domino serverwas placed behind a firewall 11. It replicated databases through the firewall to the external server. The replication, which was encrypted, represented the primary means by which the FDRS system achieved security. Netfinity 3000 acted as an „external Domino server. It had public information and was also the primary communication linkage for dealers. The ack-end of the FDRS was equipped with an Oracle database that updated the internal Domino server database with order information. The updation was done using Lotus Enterprise Integrator. The data which was replicated to the internal Domino server included lists of valid dealers and lists of order numbers. When an order was placed by the dealer on the FDRS system, the data was first stored on the external Domino server, after which it w as replicated to the internal Domino server. Then it was replicated to the back-end database via the Lotus Enterprise Integrator. Data replication between the Lotus Notes servers happened every 15 minutes and data exchange with the back-end database three times per day. There was also a link between the back end database and an IBM S/39012 mainframe based system located at MBUSA via a T113 line. MBUSA managed the flow of vehicles to Mercedes dealers across the United States. This mainframe based system, received new vehicle orders (as opposed to factory delivery reservation requests) from individual dealers. The orders were then sent to MBUSIs Baan system and also to the back-end database. The vehicle ordering and factory reservation data were coordinated with each other when the back-end database uploaded the data to the internal Domino server. This coordinated the production and delivery information. FDRS Implementation One of the most challenging aspects of the implementation seemed to be the complexity of the Lotus and Domino scripts. The development team had to group all the information from diverse systems. Commented William Engelke, â€Å"There was a substantial amount of very complex coding involved in the FDRS solution. This application involves a lot more than having our dealers fill out a form and submitting it. There are many things the servers have to do for the system to function properly, such as looking at calendars and production schedules. We built a solution with some very advanced communication linkages. † IBM faced many technical challenges during the implementation of the program. One of them was the different timing schemes of the Lotus Notes databases and backend databases (ERP). This led to discrepancies in the data. Domino server was a Near Real Time (NRT) Server14, and MBUSIs backend activities were both real time15and batch processing16. Also, to get the best results, the Domino server was an optimised subset of the ERP table set17. However, the development team achieved a balance between the two „sidesof the solution by focusing on issues of timing, error detection schemes, and alerts. Customer Satisfaction: FDRS Primary Benefit MBUSI seemed to measure FDRSsuccess in terms of increased satisfaction of its customers. The company also believed that the marketing and customer satisfaction aspects outweighed the significance of more traditional cost-based benefits. Apart from the factory delivery experience, the program also offered the customer a factory tour and ride on the off-road course at a low cost. The company also seemed to gain strategic marketing benefits from the FDRS program, as it was able to establish Mercedes-Benz as a premium brand. (Refer Table I for advantages of FDRS in different areas). Customers could also visit the various tourist spots in Alabama after picking up their M-class vehicles. TABLE I ADVANTAGES OF THE FDRS PROGRAM AREA Strategic Marketing Benefits Cost Savings ADVANTAGES FDRS was expected to improve customer satisfaction and brand loyalty, as it enriched Mercedes customers experience. The program also strengthened the brand image of Mercedes in the US. Development of a web-based solution enabled MBUSI to offer the factory delivery program at substantially lower costs, due to less reliance on administrative personnel. â€Å"Package Marketing† the FDRS program with a ride to tourist sites, enhanced the image of Alabama as a tourist destination. The creation of a similar – albeit smaller – factory delivery system to the European Customer Delivery Center in Sindelfingen, Germany, reflected favorably on the MBUSI business unit. Source: MBUSI Regional Economic Development DaimlerChrysler AG Future of FDRS In 2000, MBUSI planned to leverage FDRSplatform by adding a range of other services. MBUSI built an advanced platform to create communication links to its suppliers. Through the link, MBUSI provided them feedback on the quality of supplies it received. The dealers and suppliers had a user-ID and password, which the system recognized. It then routed them into the appropriate stage of the FDRS. The company also planned to extend the innovative system to include transactional applications such as ordering materials and checking order status on the Web. The company expected that the new system based on FDRS, would be more cost-effective than the Electronic Data Interchange (EDI)18 system. ] Bill of Material keeps track of all raw materials, parts, and subassemblies used to create a finished product. 2] A product of IBM Corp. , Lotus Notes and Domino R5 are the industrys leading client/server combination for collaborative messaging and e-business solutions. 3] The IBM Netfinity server offers solutions for file-and-print and application computing needs. 4] A computer or de vice on a network that manages network resources. For example, a file server is a computer and storage device dedicated to storing files. Any user on the network can store files on the server. A print server is a computer that manages one or more printers, and a network server is a computer that manages network traffic. A database server is a computer system that processes database queries. 5] DaimlerChrysler AG was the result of a merger between two leading car manufacturers – Daimler Benz of Germany and Chrysler Corp. of the US in 1998. 6] A luxury brand of passenger cars, Sports Utility Vehicles from DaimlerChrysler. 7] IBM Global Services is the services and consultancy division of IBM Corp. that offers extensive ebusiness solutions. 8] MBUSA is the wholly owned US subsidiary of DaimlerChrylser. ] ERP attempts to integrate all departments and functions across a company onto a single computer system that can serve all those different departments particular needs. 10] A server-based data distribution product that enables data exchange between Lotus Domino and a number of host and relational applications. 11] A system designed to prevent unauthorized access to or f rom a private network. Firewalls can be implemented in both hardware and software. Firewalls are frequently used to prevent unauthorized Internet users from accessing private networks connected to the Internet, especially intranets. All messages entering or leaving the intranet pass through the firewall, which examines each message and blocks those that do not meet the specified security criteria. 12] The IBM S/390 servers offer direct high speed access to the e-business application and are used for Enterprise Computing. 13] A dedicated phone connection supporting data rates of 1. 544 Mbits per second. A T1 Line actually consists of 24 individual channels, each of which supports 64 Kbits per second. Each 64 Kbit per second channel can be configured to voice or data traffic. 14] The NRT Server System supports real time distribution of near-real time data. 5] Real time refers to events simulated by a computer at the same speed that they would occur in real life. 16] Executing a series of noninteractive jobs all at one time. The term dates back to the days when users entered programs on punch cards. They gave a batch of these programmed cards to the system operator, who fed them into the computer. Usually, batch jo bs are stored up during working hours and then executed whenever the computer is idle. Batch processing is particularly useful for operations that require the computer or a peripheral device for an extended period of time. Once a batch job begins, it continues until it is done or until an error occurs. Note that batch processing implies that there is no interaction with the user while the program is being executed. 17] The ERP tables are the database tables, (thousands of them), on which the package is built. The programmers and end users must set these tables to match their business processes. Each table has a decision „switchthat leads the software down one decision path or another. 18] EDI connects all the suppliers in and out of the US. www. icmrindia. org/free resources/casestudies/Mercedes Benz-ITSystems-Case Studies. htm

U.S. Debt Crisis Essay Example

U.S. Debt Crisis Essay Example U.S. Debt Crisis Essay U.S. Debt Crisis Essay Name: Course: Lecturer: Date: U.S. Debt Crisis As of September 2011, the US National debt was at almost $15 trillion. The national budget has grown tremendously over the years. Much of the spending in the national debt cannot be controlled. Social Security and Medicare and Medicaid account for more than 40% of the budget. The Medicare costs can be attributed to the fact that there is still a huge percentage of ‘baby boomers’ in the country. Medicare pays 80% of insurance for people who are older than sixty-five years old and for the disabled. Defense takes up 20% of the budget, and 19% goes to discretionary spending. Other mandatory spending by the government is at 12%. The total spending by the government is more than $3 trillion dollars while the receipts amount to about $2 trillion dollars. This budget deficit continues to add to the national debt. The government needs to cut spending and it can do this is by cutting down defense, and discretionary spending. Foreign investors have invested heavily in the US by buying bonds and other market securities. More than 30% of the government receipts come from foreign investors. China and Japan have are the main foreign investors in the US, with a share of 40% of the foreign investment. Most of the country’s money comes from Individual income taxes, which make up 42%. The government needs to find ways of increasing the country’s income. Most of the government money can be collected from taxes, tariffs and other fees collected from businesses. It is however, interesting to note that only 3% of income is collected from excise and only 9% of the country’s income come from corporate taxes. Whenever there is a deficit, the government usually borrows from the public. Intra government borrowing accounts for more than 40% of the government is borrowing. The government seems to be relying too much on the Social Security and Social Insurance, which contribute 40% of the country’s income. It is borrowing from the Social Security and Social Insurance because there is a surplus in this area. The country has not been paying off its national debt over the years. This is clear from the fact that the debt has continued to increase. Different presidents have had an effect on the American economy. Although there was significant growth of the economy when Reagan was president, the national debt also grew tremendously over this period, increasing to 159%. The people did not care much about the national debt since the economy was growing, and so they never asked or got involved. The debt also increased tremendously when Bush was president. This can be attributed to the fact that he allocated a lot of money for defense and security, and most of this money was borrowed. President Obama has also increased the budget deficit. He was faced with the 2008 financial meltdown, which had a huge impact on the economy. He has put forward several measures to try to resolve the crisis. The legislators seem to be more interested in fighting and campaigning rather than solving the debt crisis. T he debt will continue to increase if the relevant authorities do not do something to decrease it. The government cannot continue to get its income from borrowing and it needs to find ways through which it can increase its revenue. It cannot continue to depend on foreign lenders since this already makes a huge percentage of the country’s income. The best alternative for the country is reducing the amount it spends and increasing the revenue collected. The government cannot continue spending money it does not have. It needs to revise the Medicare and Medicaid programs and look for ways where it can cut some of the costs. Much of the money used in defense has gone to fighting terrorism. This is important for the country, but the government should consider ways of reducing these costs. The decision to move American troops from countries such as Iraq means that the government will spend less on them. The government should also consider raising the taxes progressively in such a way that the people do not feel burdened.

The Knowledge Based Economy Essay Example | Topics and Well Written Essays - 250 words

The Knowledge Based Economy - Essay Example This will facilitate the transition of technological change into productivity gains that will ensure organizational changes and as such, raise flexibility (OECD, 1996). These changes shall be achieved through financial, information and competition changes. Using allocation, the government’s policy would be to upgrade the human capital. The policy would, for instance, provide a broad-based formal education. It will also handle creating incentives for organizations and people to take part in unceasing training and learning. Subsequently, through the policy, it will be easier for the government to match labor supply and demand by the skill requirements (OECD, 1996). Using distribution, the government’s policy would be to enhance knowledge diffusion. In this case, the policy will be geared towards supporting innovation so as to establish â€Å"diffusion-oriented† programs. The policy will lay out a clear framework for the collaborations and hence, promote the diffusi on of new technologies to various sectors in the economy. The policy will also be instrumental in facilitating the development of information infrastructures. All these approaches have both strengths and weaknesses. The use of all these policies will make it possible for the economy of a country to be knowledge-based. As such, it will benefit from all the advantages of a knowledge based economy. However, the policies require huge financial investments.  Using regulation, the government’s policy would be to promote organizational change.

Titled Modern Portfolio Theory or Investment Management Essay

Titled Modern Portfolio Theory or Investment Management - Essay Example Thus, a portfolio may be defined as a combination of securities with varying risk and return characteristics which in turn contribute to the net worth of the investor. (Swisher, 2005) The topic of discussion in this paper is Modern Portfolio Theory or Investment Theory, which may be defined as the concepts that revolve around educating an investor regarding the steps that must be taken in order to develop a portfolio that will speak of rational choices and optimisation of financial resources. Before going any further, it is imperative to point out that investement brings a certain degree of speculation, especially in today's economic scenario where there has been a boom in the information transmission trends due to an increase in the number of people from various quarters flocking towards investing in portfolios. This paper will endeavor to study modern portfolio theory (MPT), in terms of its various elements like Markowitz diversification, the efficient frontier as well as concepts like the Capital Asset Pricing Model, better known as CAPM. The tools used in the course of application of these concepts include the Capital Market Line and the Security Market Line apart from alpha and beta coefficients which help measure mean, variance, risk and returns of the portfolio as a whole. To begin with, the paper will introduce the Modern Portfolio Theory as propounded by Harry Markowitz in the early 1950s, before moving on towards defining the elements like beta, risk and return that are concerned with the various concepts of Modern Portfolio like diversification and Capital Asset Pricing Model or CAPM. (Swisher, 2005) The intorduction of the key elements before discussing and analysing the actual concepts has been carried out so as to ensure that there is full understanding of the tools that will be used in the study of the Modern Portfolio Theory. The paper will progress through a series of headings that are relevant to introduce new topics. These topics are linked with each other through the tools like beta, risk, return, mean and variance, among others. There will illustrations in terms of formulae and diagrams for all sections of the paper. Markowitz and Modern Portfolio Theory Modern Portfolio Theory has come up a practical model for the measurement of the various trends affecting the portfolio market. As a body of concepts and tools, it is concerned with the identification of markets that have high return potential and those which have a heavy risk factor, so as to help the investor choose more wisely. At the same time, the modern portfolio theory also brings us face to face with the fact that it is equally concerned with varying combinations of assets to zero in on the favourable markets and customers. (Markowitz, 1952) Born in the year 1952, the modern portfolio theory was the brainchild of Harry Markowitz who recognised the need for a certain set of parameters within which the obvious diversification trends may be