Discussion Question Assignment Example | Topics and Well Written Essays - 250 words - 8

Conversation Question - Assignment Example He has an imperious style that made a domain of dread among his administrators which brought about high worker turnover (Kapner, 1998). A previous director of the organization portrayed Schmitt as one who â€Å"destabilized the organization and encircle himself with Yes individuals. All the pioneering soul left (Kapner, 1998). A few speculators and examiners have blamed Schmitt due to his failure to respond promptly to the adjustments in the commercial center (Kapner, 1998). Michael Hamilton, a portfolio director at Invista Capital Management expressed that Rubbermaid â€Å"lost control of the brand and expenses† (Kapner, 1998). Given the above situation of Rubbermaid during Schmitt’s time, it would have been to benefit the organization if Schmitt was progressively open to the assessments and recommendations of individuals who are more learned than him in specific parts of the business. Major vital choices can't be made with a snap of a finger; it ought to be talked about completely and extensively. In an association as immense as Rubbermaid, Schmitt can't exclusively depend on his capacities to think of significant choices. Schmitt can take in an exercise from Howard Schultz, CEO of Starbucks who stated, â€Å"I think its extremely hard to lead today when individuals are not so much genuinely taking part in the choice. You wont have the option to draw in and hold extraordinary individuals on the off chance that they dont feel like they are a piece of the initiation of the methodology and the creation of the extremely basic issues. On the off chance that you dont offer individuals a chance to truly b e locked in, they wont remain (Vogan, 2006). This announcement from Schultz is surely the knowledge behind the astounding accomplishment of Starbucks. Jackson, E. (2012, January 2). The seven propensities for tremendously ineffective officials. Recovered May 30, 2012, from forbes.com: http://www.forbes.com/destinations/ericjackson/2012/01/02/the-seven-propensities for fabulously fruitless officials/ Kapner,

Is Intelligence Inherited Essays

Is Intelligence Inherited Essays Is Intelligence Inherited Essay Is Intelligence Inherited Essay Is Intelligence Inherited? Going on from the genetic counseling focused surveies of knowledge of the mid twentieth century, it is going away from there are various kinds of ‘intelligence’ that can be distinguished. Howard Gardner, the trend-setter of research on ‘multiple intelligences’ saw insight as a comprehensive quality that incorporated the ‘capacity to work out employments or to way stocks that are esteemed in at least one social settings’ ( see Gardner and Hatch, 1989 ) and utilized the undermentioned gauges to put characteristics of knowledge: disconnection through encephalon hurt, the being of starts and wonders, the assignment of a core set of tasks, a discernable formative history in universes, developmental history and credibility, support from exploratory mental science in footings of psychometric discoveries and the assurance of vulnerability to encoding in an image framework ( see Gardner, 1993a ) . Orchestrating to Gardner, a develop that could be marked ‘intelligence’ needs to fit in with these norms, despite the fact that Gardner himself ( Gardner, 1993a ) takes note of that doing examinations sing the compliance of the build to these measures is â€Å"more an imaginative conclusion than a logical assessment† . Gardner ( 1993a ) recognizes a few discernable kinds of knowledge, including lingual, sensible numerical, real sensation, spacial, melodic, relational and intrapersonal ( see Gardner, 1993a ) , and contends that every one of these insights shows itself in various measures in various people, with certain people being more etymologically wise than others, for outline, or certain people holding more prominent individual insights than different people. It is obvious from the Hagiographas of Gardner, all things considered, that Gardner is of the conclusion that every one of the seven signifiers of his ‘multiple intelligences’ are fundamental all together for a man to work ideally ; people, for representation, need some limit with respect to, and essential worry of, every one of the various insights with the end goal for them to have the option to move cleverly, towards life, towards condition of affairss that current themselves and towards different people ( see, for delineat ion, Gardner, 1999 ) . In add-on to the insights previously proposed by Gardner in his 1993 workFrames of Mind: the hypothesis of various intelligences,Gardner ( 1999 ) recommended three different sorts of knowledge that ought to be added to his unique rundown of numerous insights, viz. naturalist knowledge, experiential insight and good knowledge ; simply one of these, sensible insight was, in any case, added to his unique rundown of different insights, and depicts the limit of universes to â€Å"recognise, classify and heaps of their environment† ( see Gardner, 1999 ) . In add-on to Howard Gardner’s deal with different insights, Daniel Goleman ( 1995 ) has put frontward his hypothesis of passionate knowledge, as an enthusiastic skill hypothetical record, which fundamentally portrays the limit of people to comprehend their ain feelings and the feelings of the individuals around them, in footings of creating reluctance, self course, and identifying with different people’s condition of affairss to have the option to pull off one’s ain connections, in footings of building up a feeling of cultural cognizance and a capacity to pull off between close to home connections. Salovey and Mayer ( 1990 ) have developed Goleman’s considerations sing passionate knowledge and comprehend enthusiastic insight as the â€Å"ability to see feeling, incorporate feeling to ease thought, get feelings and to balance feelings to propel individual growth† . Bar-On ( 2006 ) has other than developed Goleman’s suspected of enthusiastic insight, to incorporate the term ‘emotion quotient’ which sets that passionate knowledge can be learned over clasp and, thusly, that it is an achievement that can be created and improved through arrangement, example and treatment ( see Bar-On, 2006 ) . Petrides and Furnham ( 2000 ; 2001 ; 2003 ) , spread trip upon crafted by Goleman ( 1995 ) hypothesize that there are two varieties of passionate knowledge: characteristic based and capacity based, with their examination recommending that, along these lines, a few signifiers of enthusiastic insight ought to be learnable. There are, in any case, numerous pundits of Goleman’s work, with many research laborers recommending that Goleman verifiably accept enthusiastic insight is a signifier of knowledge, without holding any exact apt proof of this, nor providing any proposals regarding how pertinent proof of his hypothesis can be looked for ( see, for representation, Eysenck, 2000 ) . Locke ( 2005 ) recommends that passionate insight is non an entire separate signifier of knowledge yet that it is, rather, the build of knowledge applied to feelings and the control/advancement of one’s feelings, and that, all things considered, the develop distinguished by Goleman ( 1995 ) ought to be alluded to as an achievement, and non as a curious signifier of knowledge. This is, of class, bolstered by the considerations of Salovey and Mayer ( 1990 ) , Bar-On ( 2006 ) and Petrides and Furnham ( 2000 ; 2001 ; 2003 ) who propose that enthusiastic insight can be educated, much like some other achievement one may larn through arrangement. It is clear, thus, that there are numerous signifiers of ‘intelligence’ that can be recognized and contended to be. Proof for and against the existent being of these various kinds of insight is non-existent or opposite, all things considered, thus the issue of the heritability of ‘intelligence’ keeps on being questionable. This will be talked about in more thing in the accompanying development. Notices Bar-On, R. , 2006. The Bar-On hypothetical record of enthusiastic social intelligence.Psicothema18, pp.13-25. Eysenck, 2000.Intelligence: another expression.Transaction Publishers. Gardner, H. , A ; Hatch, T. , 1989. Different insights go to class: Educational conclusions of the hypothesis of various intelligences.Educational Research worker,18( 8 ) , 4-9. Gardner, H. , 1993a.Frames of head: the hypothesis of numerous intelligences.Basic Books. Gardner, H. , 1993b.Multiple insights: the hypothesis in design, a reader.Basic Books. Gardner, H. , Kornhaber, M. what's more, Wake, W.K. , 1995.Intelligence: numerous positions.Wadsworth Publishing. Gardner, H. , 1999.Intelligence Reframed. Numerous insights for the twenty-first century, New York: Basic Books. 292 + ten pages. Goleman, D. , 1995.Emotional intelligence.New York: Bantam Books. Locke, E.A. , 2005. Why enthusiastic knowledge is an invalid construct.Journal of Organizational Behavior, 26, pp. 425-431. Petrides, K.V. what's more, Furnham, A. , 2000. On the dimensional development of enthusiastic intelligence.Personality and Individual Differences29, pp.313-320. Petrides, K.V. what's more, Furnham, A. , 2001. Quality passionate insight: Psychometric test with notice to set up attribute taxonomies.European Journal of Personality15, pp. 425-448. Petrides, K.V. what's more, Furnham, A. , 2003. Quality passionate insight: conduct verification in two surveies of feeling affirmation and responsiveness to state of mind initiation.European Journal of Personality17, pp. 39â€75. Salovey, P. what's more, Mayer, J.D. , 1990. Enthusiastic intelligence.Imagination, information and personality9, pp.185-211. Hypotheses sing the legacy or potentially cultural advancement of passionate knowledge This article will focus on Daniel Goleman’s hypothesis of enthusiastic insight and the speculations that have been placed sing its conceivable cultural turn of events. Bar-On ( 2006 ) built up a stage of enthusiastic insight, using the develop of feeling remainder ( see Bar-On, 2007 ) , demoing that this measure can be scholarly, and that it is of import that the measure is improved in people who have a low remainder, since people who have higher remainders are all things considered increasingly fruitful in their picked Fieldss, and in their lives when all is said in done, than people who have lower remainders ( see Bar-On, 2006 ) . Without a doubt, Bar-On ( 2006 ) proposes that an individual’s enthusiastic remainder adds to their general insight, and this so offers a decent file of how fruitful a man is probably going to be for a mind-blowing duration, with a positive connection between an individual’s passionate remainder and their personal satisfaction, for representation ( see bar-On, 2006 ) . In this mode, crafted by Bar-On ( 2006 ) recommends non simply that passionate insight is an extremely existent quality, which can be created, through arrangement and cultural turn of events, yet that one’s enthusiastic remainder majorly affects the manners by which one will populate, in footings of the conditions one ends up in, as an outcome of one’s enthusiastic knowledge and the triumphs/disappointments this has decided as a result of journeying between close to home connections, for outline. This proposes the resonations of a low enthusiastic remainder are sweeping, and, perhaps, between generational, in footings of the impacts of holding a low passionate remainder and where this places a man inside society all in all. Many research laborers have proposed, for delineation, that cultural position is identified with low enthusiastic remainder ( see Bar-On, 2006 ) . This recommended cultural nexus to enthusiastic knowledge is incredibly suggestive of the announcements utilized by eugenicists when thinking for a familial balance for insight ( see, for outline, Fancher, 1985 ; Grace, 2006 ; see other than Detterman, 1997 ) . Surveies are all the time distributed proposing some signifier of

Pride And Prejudice Jane Austen English Literature Essay Essay Example

Pride And Prejudice Jane Austen English Literature Essay Paper Elizabeth Bennet is the supporter of this novel, she is the second most seasoned grown-up females in the Bennet family, she is wonderful, wise and about ever Judgess everything with the principal feeling, she has a decent connection with his male parent Mr. Bennet, ( a mocking respectable man who adores her young lady, however he much of the time flops as a parent ) , and her most established sister Jane, on account of the way she see only the positive qualities in others. Elizabeth get in adoration with Mr. Darcy, an attractive, tall, and shrewd, however rather reserved individual, he is a decent realized work powers who has a place with a high cultural class. The solitary thing that she does nt wish about him is his unnecessary pride, and that is the reason their relationship gets into numerous issues doing each character to see the other one contrasts during the novel and looking to work out them so they can in the end stay together. We will compose a custom exposition test on Pride And Prejudice Jane Austen English Literature Essay explicitly for you for just $16.38 $13.9/page Request now We will compose a custom exposition test on Pride And Prejudice Jane Austen English Literature Essay explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer We will compose a custom paper test on Pride And Prejudice Jane Austen English Literature Essay explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer Jane Bennet is the most established of the Bennet sister, she is non the most cagey however she is considered the most delightful and sensible of the considerable number of sisters that is the reason she is supported by Mrs. Bennet ( her female parent, who is unimportant and her main goal in life is to get hitched her young ladies off great ) .Jane gets in affection with Mr. Bingley, a rich grown-up male who late moved to Hertfordshire, Mrs. Bennet acknowledge the relationship only in light of the fact that he is a work powers with a clump of cash, however Mr. Darcy who is Mr. Bingley closest companion, ever look to ensure feels their affection is non equivalent and he does nt want to see Bingley procure hurt that is the reason he try to isolate them, however because of Elizabeth, Mr. Darcy understands his blunder and brings back Bingley who so weds Jane. The mystery plan of the account happens on how the relationship of Elizabeth and Mr. Darcy transforms, it is at last unmistakable when Darcy beats his pride, and Elizabeth conquers her inclination and the two of them defeat their disparities and decisions to go gaga for one another. The feeling of the novel is truly fascinating on the grounds that it is non a commonplace sentimental account, and the individuals truly had an alternate way to follow up on that cut. Like the way the grown-up females s in that period where truly intrigued on target, so they can hold a decent way of life. Another point is that it is non so stifling on the grounds that the connection among Elizabeth and Mr. Darcy has a truly fascinating modification, in light of the pride of him and the inclination of she, fate makes a battle with the highlights of every one, and simply by work excursion their occupations, they can in the end gain in affection. Toward the start of the story is when Mr. Bingley moves to England and met the Bennet s family unit, there is the place he talks for the main clasp with Jane Bennet, and experience an association between them, obviously Mrs. Bennet is keen on that connections, since she needs a decent way of life for her young ladies and that is the reason she make everything to fall in them, however she does nt have confidence in the opinion of Mr. Bingley s closest companion named Mr. Darcy who ever take consideration about him. Mr. Darcy feel and imagine that the connection between Jane Bennet and Mr. Bingley is non love, and that she is only inspired by the cash she will hold by get marrieding with him. Furthermore, that is the reason he began to pass judgment on the Bennet family unit with a terrible develop, and try to isolate Mr. Bingley of Jane Bennet, despite the fact that they are genuinely in both, and she is non intrigued by his cash. During the improvement Mr. Darcy, ever do a terrible equity of this family unit, however when he met Elizabeth, he began to adjust his head, Mr. Darcy and Elizabeth are compelled to be in one another s organization, in various condition of affairss, and there is the place he get down to procure in affection with her. Yet, Elizabeth does non experience the equivalent at him, that is on the grounds that he is looking to separate her sisters love of her, and she begin to encounter disdain to him, finally she changes Mr. Darcy s head and persuade him that her sister Jane will be a decent hitched lady for Mr. Bingley, and that she is non like her female parent, that implies that she is non inspired by his cash, since he really love him. Mr. Darcy changes his head and acknowledges the connection between his companion and Jane Bennet, so they in the end remain together. Furthermore, between Mr. Darcy and Elizabeth Bennet, they inevitably tackle the occupations and show signs of improvement of their disparities and decisions, so Elizabeth opinion of him adjustment and they can in the long run begin to look all starry eyed at one another. I think the qualities of this book is that perhaps it is non an ordinary sentimental story like different books depend on, and the failings, could be that conceivably non everybody is intrigued on perusing sentimental books. This book really keep my intrigued, in view of the way it is clarified, and the condition of affairss that occur during the story, I can non state it sway me, since I do non genuinely experience the account moved me, it tends to be on the grounds that, the battle in the novel, is non really conceivable to go on to me, and the way the individuals carry on that clasp is non the way the individuals act now a yearss. My opinion of this book, is that it is a really fascinating sentimental novel, that can elucidate how circumstances are different, and how individuals acted numerous mature ages back, at a similar clasp that it talk about the distinctions that exist between the pride and predisposition of two individuals, that by work trip their disparities the two of them get in affection. I do encourage this novel for individuals that judge individuals before cognizing them, and the 1s that have a group of pride!

Multinational Corporations Essay - 3300 Words

Multinational Corporations in adopting a global Branding strategy using the case study of Vodafone Group PLC. (Research Paper Sample) Content: AN INVESTIGATION INTO THE CHALLENGES FACED BY MULTINATIONAL CORPORATIONS IN ADOPTING A GLOBAL BRANDING STRATEGY: A CASE STUDY OF VODAFONE GROUP PLC.Name: University: Course: Instructor: Date:AbstractGlobal branding strategy is a concept that many multinational corporations are seeking to adopt. However, there are numerous challenges that the managers of such companies have to face while implementing such strategies. This study will aim at finding out the challenges that such multinational face and how they could address such issues. The case study of Vodafone is used so as to develop a more comprehensive and practical approach. This approach will help in providing recommendations that could be used by the management of Vodafone and other companies to address such concerns.Table of Contents TOC \o "1-3" \h \z \u Abstract PAGEREF _Toc335415338 \h 2Introduction PAGEREF _Toc335415339 \h 3Research questions PAGEREF _Toc335415340 \h 4Literature review PAGEREF _Toc335415341 \h 4Purpose of the research PAGEREF _Toc335415342 \h 5Research methods PAGEREF _Toc335415343 \h 5Research Design PAGEREF _Toc335415344 \h 5Data Collection methods PAGEREF _Toc335415345 \h 6Suitability in addressing the research questions PAGEREF _Toc335415346 \h 6Strengths and limitations of the method and Design PAGEREF _Toc335415347 \h 6Analysis and interpretation of Data PAGEREF _Toc335415348 \h 6Ethical Issues PAGEREF _Toc335415349 \h 7Reflective Section PAGEREF _Toc335415350 \h 7Bibliography PAGEREF _Toc335415351 \h 8IntroductionThe main objective of this study will be to investigate the challenges faced by Multinational Corporations in adopting a global Branding strategy using the case study of Vodafone Group PLC. The study will investigate the advantages of global branding to organizations and establish how Vodafone can successfully adopt a global brand name. The study also will find out the challenges that Vodafone may undergo while advertising a global brand name in the mar ket.Research questions 1 Why has Vodafone sought to adopt a global branding strategy? 2 What are some of the challenges that Vodafone faces as it strives to adopt a global branding strategy? 3 What are some of the solutions that could be used in enabling a smooth transition into a global brand?Literature reviewIn the current business environment, global branding is a relatively new concept that multinational corporations are adopting (Cova, Pace, and Park, 2007, p. 319). A global brand has been defined as a brand name that is recognized internationally (McDonald, Chernatony, and Harris, 2001, p. 336; Pecotich and Steven Ward, 2007, p. 273). It is brand that is present in most parts of the world (Craig and Douglas, 1996, p. 72). Research indicates that global branding strategy involves the use of consistent appeal in all the markets CITATION Joss4 \p 50 \l 1033 (Rooney, 1995, p. 50). In the advent of globalization, the use of global branding strategy has become a necessity CITATION Die10 \p 502 \l 1033 (Ernst, 2010, p. 502). A German and English literature based study explores various benefits of global branding which include; increased identification, high levels of innovation and low advertising costs (Kelz and Bloch, 2009, p. 15). The major limitation of the study is that it does not offer practical examples using case studies. Also, study indicates that the nature in which a company engages in global branding determines its success (Wills, Samli, and Jacobs, 1999, p. 6). The advertising strategy adopted by a company to communicate its global brand must be effective for the desired outcomes to be obtained (Motameni and Shahrokhi, 1998, p. 280).Despite its massive benefits, there are various challenges which managers of multinationals face as they seek to develop a global branding strategy CITATION Mik05 \p 203 \l 1033 (Gabrielsson, 2005, p. 203). A U.K. based study observes problems such as strained relationships with advertising agents and market inst abilities as some of the major concerns CITATION Joh03 \p 9 \l 1033 (Quelch, 2003, p. 9). A critical evaluation of this study indicates that it does not offer a representation of the challenges that may be faced by multinationals in other geographic locations. Again, the concerns raised are few. Yet another study shows that communication through CSR is important in developing a comprehensive global branding strategy (Polonsky and Jevons, 2009, p. 331). Furthermore, a study among Finish firms indicates that the nature of the business determines the nature of branding strategy adopted. The study shows that Business-to-Business companies adopted different branding strategies with Business-to-consumer firms CITATION Mic073 \p 1091 \l 1033 (Beverland, 2007, p. 1091). A critical view of the study shows that it improves its reliability by focusing on Finish firms as the sample. However, its sample of 30 SMEs is not an adequate representative of large corporations which tend to need mor e global branding. However, a study using Marlboro as the case study explores how global branding can be achieved CITATION Hav05 \p 269 \l 1033 (Ling, 2005, p. 269). The only limitation of this study is that it only explains how and not why the global branding strategy was adopted. Again, the findings may not be applicable in other industries due to the uniqueness of the tobacco industry. In this study, the researcher will explain the concept of why' Vodafone needs to embrace the global branding strategy. This is a more applicable concept in other firms since the benefits are related to firms in other industries.Based on the findings of different studies, the exploration of the global branding strategy in the case of Vodafone proves essential. Unlike previous studies, this research will explain the applicability of the global branding strategy in a major multinational corporation in the telecommunication industry. It will seek to identify some of the reasons why the company shoul d adopt a global branding strategy, the challenges that may be encountered by the management and a framework of possible solutions. The study explores the position of Vodafone which is relatively similar to other companies. With its declining profitability in some markets, Vodafone needs to re-invent itself through the global branding strategy. This study helps in providing recommendations on how this could be done. The findings of the study will be highly relevant to managers of other corporations seeking to adopt a similar strategy and the academic fraternity conducting research in related subject.Purpose of the researchIn this study, exploratory research will be used. This is a type of research that seeks to identify a problem that may be in a particular context and recommend a framework of solving it CITATION Geo05 \l 1033 (Dunbar, 2005). This research method helps in evaluating the context of one entity and developing a policy that can be used in resolving the problems identif ied. In the case of this study, exploratory research is most suitable because it helps in identifying and explaining the problems that Vodafone's management may have to deal with while adopting the global branding strategy. Also explanatorily research is appropriate since there is no previous case study done on global branding strategy (Yin, 1984). An explanatory research will help in answering the research questions and help to identify the suitability of global branding strategy in Vodafone.By the end of the research, the study hopes to have achieved various goals which include identifying why companies such as Vodafone are advocating for the need to adopt a global branding strategy (Brand Finance, 2011). This will be achieved through the evaluation of the benefits that are associated with the strategy compared to the previous strategy that the company has been pursuing. Also, the researcher aims at identifying some of the challenges that Vodafone may encounter while implementing the global branding strategy. Lastly, the researcher hopes to formulate a framework that could help Vodafone, and other multinational corporations encountering similar problems, in solving them.Research methodsResearch DesignThere are different approaches of research design that could be used in conducting research. A researcher may opt for either quantitative or qualitative research design approaches (Robins, Fraley, and Krueger, 2009). In most cases, the nature of the research question determines the approach that the researcher adopts in undertaking a study CITATION Ton96 \l 1033 (Greenfield, 1996). In the context of this study, the researcher will use qualitative research design approach. This is an approach that is used in developing ideas and concepts that can be used in the future formulation of hypothesis CITATION Ton96 \l 1033 (Greenfield, 1996).Qualitative research design is usually accompanied by other research tools such as case study analysis and interviews in develo ping a more comprehensive study CITATION RPa04 \l 1033 (Panneerselvam, 2004). In the context of this study, the researcher will use Vodafone as the case study so as to explain the problems that the company may encounter and recommend possible solutions. The design will be appropriate for the study in investigating the factors that may affect Vodafone while implementing the global branding strategy. Also, the case study approach is of great benefit in reinforcing the findings of the study since it may provide a framework of the development of a quantitative study in future (Pratt and Loizos, 1992).The use of the method will help in developing insights that add to the literature of global branding. This will help in improving the relevance of the study. The study will take an interpretive approach since the researcher will analyze and interpret data and provide findings in a report. The time frame of the research is 10 da...

Brief Analysis Of Coca Cola And Pepsico Business Essay - Free Essay Example

Sample details Pages: 10 Words: 2870 Downloads: 6 Date added: 2017/06/26 Category Marketing Essay Type Compare and contrast essay Did you like this example? Introduction The interest in corporate social responsibility, sustainable business practice, corporate governance, business ethics, and integrity and compliance management has grown markedly in the past decade (Waddock et al., 2002). It is not only stakeholders who expect companies to pay greater attention to norms, values and principles; companies themselves are acknowledging the importance of responsible business practice (Waddock et al., 2002). But what are a companys responsibilities? It is widely recognized that we are in an environmental crisis, no doubt about that. Don’t waste time! Our writers will create an original "Brief Analysis Of Coca Cola And Pepsico Business Essay" essay for you Create order There is nearly unanimous agreement that the earth is getting warmer, and the consensus in the scientific community is that human activity, especially through activities that emit hydrocarbons, is the chief cause of climate change. Business ethic has become one of the strongest news stories of the past decade. Previously renowned companies such as WorldCom, Enron, Wal-Mart, Google and Starbuck have become link to a growing trend of unethical business behavior. Nevertheless the environmental issue has created a big impact on todays business organization. The EU has decreed that capitalism, and hence business practice within capitalism, should be environmentally sustainable. Financial success by itself is no longer sustainable therefore EU environmentally friendly business practices are considered a moral norm and consequently a moral obligation. Although corporations are primarily business organization run for the benefits of the shareholders, they have a wide range set of re sponsibilities, to their own employees, to the customers and suppliers, to the communities which are located, and to the society at large. Most corporations recognize these responsibilities and make a serious effort to fulfill them. Analysis of Coca-Cola and PepsiCo Coca-cola The Coca-Cola Companys website contains sufficient amount of information on their segments of corporate governance, ethic, environmental and sustainability issue. Corporate governance Coca-cola has committed to strive and enforce the establishment of the principles of corporate governance. Corporate governance that has been adopted by them is based on the belief that maintaining and improving management efficiency and the fairness and transparency of their corporate activities is of utmost importance. Ethic and Environmental Sustainability Coca-cola detailed few guidelines about utilization of water on their business operation. They develop few objectives which the main aims are to return the water safely to the communities and nature as what the company consumes for their beverage production. The website also stated their roles on encountering water-scares problem around the globe. The Companys Website and Case Study Relation The Coca-Cola Company and WWF had combined their strength together on preserving nature mainly on conserving water. Several ideas and projects had been stated in order to improve global water efficiency. Focusing on the river Yangtze in China, their collaboration is vital because it is in line with their partnership main objective. The partnership goal in the Yangtze is to inspire better governance and sustainable river management practices across the basin. Coca-Cola Companys website. The Coca-Cola Company and WWF initially planned on these three initiatives: Supply Chain: Working with the supplier in order to sustain agriculture mainly sugarcane, oranges and corn. Water Stewardship: A fresh water conservation relating seven river basins including Yangtze River. The aim is to develop and implement comprehensive water stewardship plans that will serve as models for the Coca-Cola system. River Basin Conservation: To conserve the seven key freshwater basins on which o ur partnership is focused which include Yangtze River. PepsiCo PepsiCo Companys website contains an adequate amount of information on their segments of corporate governance, ethic, environmental and sustainability issue. Corporate Governance Referring to the website on corporate governance segment, PepsiCo has adopted strict corporate standards that govern their operations and ensures accountability of their actions. These corporate social responsibilities are also made as an integral part of their operations. The website of PepsiCo on corporate government segment detailed the corporate standards that have been strictly governed to guarantee the accountability of their action. Ethic and Environmental Sustainability [The] successful company in 2030 will be the one that recognizes the possible outcomes of the global crises we face, and one nimble and tenacious enough to embed this recognition into their strategy and business processes. INDRA NOOYI, PEPSICO CHAIRMAN AND CHIEF EXECUTIVE OFFICER, MAY 2009 The statement by the CEO of PepsiCo above shows the dedication on preserving the environment hence numerous efforts had been done by them for the past few years. Recently PepsiCo had released inaugural water report titled Water Stewardship: Good for Business Good for Society which explain the companys commitment to safeguard and replenish water use in their operations thus provide a better environment for future generation. PepsiCo has proclaimed on their website regarding their goal and commitment to protect the Earths natural resources. PepsiCo state that their part as a dynamic global business operator, they will remain committed in minimizing the impact of their business on the environment . The Companys Website and Case Study Relation PepsiCo and China Womens Development Function had united their forces on one purpose, which is to provide a clean water supply and to solve drinking water shortage especially in rural areas in China. PepsiCo Foundation had donated a sum of $ 1.5 million on Mother Water Cellars Project. The objective of the project was to design pilot water supply systems in order to conceive water and at the same time the project aimed to solve the problem on the difficulties of people in rural area to obtain safe drinking water. Water Cellar Sketch of a water cellar The main idea of the Water cellar is to accumulate rain and reserve the water for man and farm animals. It is also a kind of water-storing facility in Chinas rural areas. In relation on the case study, the PepsiCo has provide a huge-scale effort and this has been proven by the website and a report title Land of Love, Water Cellar for Mothers done for PepsiCo. They also had launched the project in 2000, and since then many water cellars has been built. PepsiCo believe that the planet is for all human kind to share and is their obligation to be a good citizen to the world. This project may have solves some environmental ethical issues that became a responsibilities among the big corporation. Differences in Experience and Perception China viewing Coca-Cola Morality consists of rules of human behavior and also specifies that certain actions are wrong while others are right. Actions can be seen and evaluated from moral perspective even in business since they involve human activity (George.R. 2005). Coca Cola has shown concern for the environment in China. The partnership between Coca Cola and WWF to protect Yangtze River is a non-profit one, which again reiterates Coca Colas concern about environmental issues. According to W. Michael Hoffman, a business has an obligation to keep the environment clean beyond what the law states. Companies should find methods to eradicate environmental problems caused by their production. Teleological ethics theory states that the consequence of an action will determine whether the action is good or evil. In the case of Coca Cola, if the teleological theory is applied, China will view Coca Cola as bad if the latter is polluting the environment. Moreover, Coca Cola owns around 33% of Chinas soda mar ket. The companys representatives have predicted that there is still the possibility to grow. Products are being tailored only for the Chinese citizens. Given that Coca Cola is planning to grow, this will create more employment in China. By operating in China, Coca Cola has a moral right towards the government and the citizens, and the company should aim should aim at improving their standard of living. (Shaw, Barry) However, China needs to take into consideration what happened in India. The company had to close down for causing water shortages, and also for ignoring social and environmental foundations of consumer trust. A company may have different factories around the world, but its vision and mission statement should be the same. Given that we can consider Coca Colas actions as unethical, theres a reason for the Chinese government and citizens to worry about the Coca Cola Company established in China. What has happened in India can again be connected to the teleological ethic s theory since the problems caused by Coca Cola has led to the closure of the company. As prescribed in this theory, only the ends or consequences of an action can determine whether the latter is good or evil. Coca-Cola viewing China Coca-Cola has experienced thoughtless ethical troubles with its affiliation amid their stakeholders in China. It is eager to expand its business in china and one of the ways has been the partnership with WWF with intentions of creating a relationship of trust favorable in increasing its market in china. The company launched a communication program aimed at educating people along the Yangtze River about environmental concerns, river basin management and water management. This shows the companys intention in exploring the moral responsibility to the community in situations people lack enough knowledge about. One of the principles which separate this right action from wrong is utilitarianism which emphasizes on bringing most happiness for everyone if not majority of the people through our actions ( Shaw.W, Barry.V,2010). Hence, this program is beneficial to farmers and the ongoing three Gorges dam construction which will be providing electricity to the community. Furthermore, Coca Cola is under the broad view of corporate social responsibility which identifies this company as one pursuing profits as well as having other responsibilities to its consumers and society at large. As argued by Konosuke Matsushita any business should make service to society as its objective and while serving society, profits will be generated automatically (George.R, 2005). For example the company has helped WWF contribute a major role in the Yangtze River Forum through uniting on a recommendation to deliver the Chinese government for implementing pollution regulations, which apparently are fairly uneven in the country. We support the case of Coca Cola viewing China because companies are motivated to become more socially responsible to their most important stakeholders such as consumers and the community because they expect them to understand and address the social issues relevant. In this case, Coca is contributing towards the conservation of the environment through the water se curity in China. Cross Cultural Ethical Decision-Making The business culture of a country is shaped by business practices and ways of thinking over a long period of time. Countries such as USA and China have different business cultures and ways of conducting their business partly because of their differences in history. Thus, it is absolutely vital for Coca-Cola and WWF to understand the cultures and practices of the Chinese society. In our point of view, Coca-Cola and WWF have been successful to a certain extent in cross-cultural ethical decision making. The Chinese society believes that everything should be in harmony (Kaptein, 2004). The efforts of WWF in collaboration with Coca Cola to clean the waters of the Yangtze River can be viewed as a decision based on the value of harmony within the Chinese society. This effort would thus be viewed as an ethical business conduct and improve the relationship between WWF and Coca Cola and China. The Chinese place high importance on human relationships or guanxi. As a result, the Chinese str ive to work in groups to accomplish a common goal (Pitta, Fung Isberg, 1999). The groups in this scenario include a non-profit organisation, WWF, a profit making organisation, Coca-Cola, and the Chinese society. The common goal of these three groups is to ensure clean water is running through the lifeblood of millions Chinese, the Yangtze River. Therefore, this is seen as an informed decision by WWF and Coca Cola based on a good understanding of an important Chinese culture. Based on an American culture, business relationships can be separated from personal relationships because business transactions are bounded by legal contracts (Trevino Brown, 2004). In negotiating contracts and business transactions, signing a contract is seen by Americans as the final stage of business association. However, from the Chinese point of view, friendships are seen as lifetime commitments and as a first step to a deeper and improving relationship. The fact that Coca-Cola has been operating in Ch ina for so many years setting up 39 bottling plants is a testimony to Coca-Colas true understanding of the elements of friendship and negotiations within the business conduct of the Chinese society. Communication is seen as a way to bridge the gap that might exist between two different cultures. In their efforts to clean the Yangtze River, WWF and Coca Cola launched communication programs to educate the Chinese communities about environmental issues. According to McWilliams and Siegel, the combination of communication and persuasion can help the understanding of the two parties concerned. This presents WWF and Coca-Cola with cross-cultural benefits as they are able to earn the trust of the Chinese society by making efforts to improve the well being of China as a whole. Recently, the Chinese press were complimenting Coca-Colas effort in sponsoring Project Hope, a program that aims to improve education for disadvantaged children throughout China. The company aims to build 100 Pr oject Hope Schools by 2011. This effort is in line with the Chinese culture of valuing and strengthening relationships. The news also highlighted that Coca Colas partnership with WWF to conserve the Yangtze River showed significant progress by galvanizing local communities to actively participate in river basin conservation (Press Release Coca Cola, 2010). Certain decisions made by WWF and Coca Cola were questionable as it did not fully consider the cross cultural implications. Firstly, Coca-Colas US$ 2.3 billion bid for China Huiyuan Juice suggested that the company was acting in its own self interest of gaining market share and monopolising the beverage industry in China. The Chinese society views a sudden and substantial change such as the takeover as disruptive because it does not consider the notion of harmony. Coca-Cola were acting according to the theory put forward by Adam Smith who advocated the pursuit of maximum self interest or ethical egoism. According to Garrett Ha rdin, the tragedy of commons explains that each individual believes their use of commons only has its own negligible effect. However, the collective result can be of gradual damage or destruction which makes everyone worse off. The fact that Coca-Cola uses 290 billion litres of water a year for production, might indicate that the company themselves might be at fault for causing water pollution at the Yangtze River. https://www.thecoca-colacompany.com/presscenter/nr_20101029_china_investment.html regulation Multinational Companies Balance Between Profits and Environment Multinational companies usually generate huge profits every year while they also need to contribute to the gradual improvement in the environment. One of the ways to balance those two elements, that is profits and good environment, is through sustainable development. The latter should meet the needs of the present without compromising the future generations ability to meet their needs. (United Nations Brutland Report). Sustainable development needs the integration of social, environmental and economic considerations to make long term decisions. As per Milton Friedman theory, the main social responsibility of a company is to increase profits. However, Coca Cola should make sure that it is not compromising the welfare future of Chinese citizens with its current production activities. Furthermore, there is the clichà © the business of business is business. (Business Ethics,, George). A corporation may ignore the moral demands of an individual, but it can hardly ignore the moral demands of the society it conducts its business in. This is because both parties are dependent on each other, for example in Japan, the business of large corporations recently changed, not only to produce goods and services but to also to care for the companys stakeholder such as a guarantee of lifetime employment to employees while providing a conducive environment to the people living in the region it is operating. Multinational Corporations today have a renewed interest towards Corporate Social Responsibility instead of prioritising profits at the apex of their pyramid. Some MNCs use the Corporate Social Responsibility perspective as a strategic tool to attain economic objectives which is ultimately wealth creation. These MNCs follow the approach of economist Milton Friedman who philosophised that the only one responsibility of business towards society is the maximisation of profits to the shareholders within the legal framework and the ethical custom of the country. However, the interests of people who have a stake in the firm also known as stakeholder must not be excluded by MNCs. Satisfying these interests will contribute in maximising the shareholder value (Odgen and Watson, 1999). An adequate level of investment in philanthropy and social activities will allow MNCs to bring in profits (McWilliams and Siegel, 2001). Stakeholders are the people who directly or indirectly affected an organisations actions, objectives and policies. MNCs owe a fiduciary duty towards stakeholders as they can bring profit to the company. There is a social contract between the organisation and society. A straightforward contribution in order to balance these two elements would be by maximising the shareholders value as the highest priority to evaluate specific corporate social activity (Mele and Garringa, 2004). These values of shareholders may be seen from many different perspectives such as a greener environment. However, if this method imposes a cost or hinders the compa ny from earning profit, it should be declined according to Milton Friedmans theory.

Benefits Of A Executive Compensation - 1390 Words

Introduction Over a long period of time, many shareholders in various companies have been complaining about the high executive compensation in the companies. They believe that such executives are draining the resources of such companies at the expense of the shareholders. Despite the non-binding votes from the shareholders against high levels of executive pay, many companies have given a deaf ear to them. Reduction of executive compensation has been a major challenge to many companies. There are various impediments in effecting a reduction in executive compensation. Hiring and retaining top-caliber executives. In the modern cut-throat competition business world, companies are looking for the best executives, who can lead the company into success. To achieve such an objective, companies have to offer higher executive compensation. In addition, so as to retain the best executives who are still working for the company, there is need to maintain a higher level of executive pay, otherwise such top talent will be lured away by other companies. This may have the adverse effects of leading the company into poor performance, and consequently, failure. Therefore, it is paramount that executive compensation is maintained at its best for the overall good of the company ((Hartzell Starks, 2003). Reinforcement of succession planning process. It is important that an organization prepares top-notch executives to take over leadership of the company in the future. Without 2 proper planningShow MoreRelatedA Brief Note On Executive Compensation And Non Monetary Benefits1444 Words   |  6 PagesThe term compensation refers to all forms of financial returns and tangible benefits that employees receive in exchange for their time, talents, efforts, performance, and results (Bernardin, 2013). 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Business plan proposal free essay sample

The proposed business will be 10 years younger Hair and Beauty salon. It will be located at the Kenya Cinema Building in Nairobi city which is along Moi Avenue. The form of business will be sole proprietorship offering Hair and Beauty only and hence will use simple and appropriate technology to deliver service to its customers. The entrepreneur found it appropriate because its in the heart of the city and customers can access it is in the Central Bussiness area. The business will create job opportunities as it expands as well as opening other branches in different parts of Nairobi. The owner of the business is John. E. Onyango currently pursuing a diploma course in co-operative management. 1. 2 MARKETING PLAN Ten years younger salon has key elements of a marketing plan of how how to identify customers and their expectations. The potential customers of the business will be the upper and the middle class women in Nairobi. The business share at its inception will be 20% with main competitor being Urembo, Jawambu and Rio Hair and Beauty Salon. The competitor’s greatest advantage over 10 years Hair salon is their longlices in business thus established customers and financial base but the business intends to curve a niche for itself and capitalize on the fact they lack qualified personnel and their equipment are a bit archaic. The price of services will be based majorly on the cost of production but also much attention will be paid to current prices offered by competitors. The business nwill also offer credit facilities to its trusted and regular customers. To create awareness of the business posters will be fixed at strategic places and at the business premise. A large colourfully decorated poster will be fixed outside the business premises for potential customers to see. Local media, leaflets and personal selling will also be used to advertise the business. The business will sell services directly to customers. 1. 3 ORGANIZATION AND MANAGEMENT PLAN Ten Years younger Hair and beauty Salon will comprise as of owner as the manager. It will employ the following people; Office administrator, Hairdressers, Beauticians, Shampoo, cleaner girl and the messenger. All the workers will be paid a total salary of 86,000 per month for the first year. Successful candidates for every position will be selected after interview has been conducted. Workers will be motivated through giving recommendation letters, informing them of the business progress, promotion and financial incentives. The manager will be responsible for training employees depending on their respective areas of working. The trade license will be required each year in order for the business to progress with its activities. The business will also enlist the services of a lawyer who will also be the legal advisor of the business. 1. 4 OPERATION/PRODUCTION PLAN The business production facilities comprise of driers blow-driers, steamers, nail files, ultra cholesterol hair treatment, hair relaxers, super and regular shampoo, hair conditioner, apricot facial scrubs, massage lotions, hair braids among others. These facilities will be purchased before the business goes into operation. Production strategies will be designed and developed while the production process will be based on the customer needs. The manager will be devoted to combating both internal and external factors that are likely to affect the business to ensure smooth operations. The business will adhere to all government rules and regulations to maintain peace in the course of running the business. 1. 5 FINANCIAL PLAN The business shall require Kshs. 700,000 which shall be obtained from a bank loan of Kshs. 350,000, my personal savings of Kshs. 200,000 and Kshs. 150,000 family contribution. The bank loan shall be paid from the first year’s operation. The pre-operational cost of 425,800, working capital of cash 274,200 that is estimated after determining the difference between the current assets and the current liabilities. The project cash flow which show the net profit to be made at the end of the business year in December, income statements that shows the profit and loss made by business that particular financial year. It also shows the profoma balance sheet which shows the capital, assets and liabilities of the business liquidity position. It also shows the business profitability ratios, desired financing running consists of the pre operational cost of Kshs. 425,000 and cash Kshs. 274,200 working capital as well as the proposed capitalization amount to 700,000. CHAPTER TWO 2. 0 BUSINESS DECRIPTION 2. 1 BUSINESS NAME The name of the proposed business will be10 years younger hair and beauty salon. The name suggests that whoever enters the salon shall leaks it looking attractive and one could be forgiven for thinking that she is 10 years younger than her real age. It is a business enterprise which will be owned and operated by Mr . John E. Onyango as the general manager. He is twenty four years old and resides in Nairobi city. The proprietor attended Butula boys primary school for his primary education as from 1990 wishes he sat for his Kenya certificate of primary education. He later joined Butula boys high school in 2003 for his PO level education where he sat for his Kenya certificate of secondary education wishes he attained a mean grade of c+ (plus) in 2006. In the beginning of 2007, he started offering hair services like shaving free of charge to friends and meager income corners class residents of the state wishes he used to stay in Kangemi as well as those not in better passion to pay for Kinyozi services due to high prices . this helped him perfect his skill since he had a passion for the work and opted to start working in hair pride Kinyozi and salon located in Kangeni where was paid on commission. He later joined KAM School of hair dressing and beauty in Nairobi where he trained for 5 months thus a holder of certificate in hair dressing. In 2008, he joined the Kenya school of professional students where he obtained a diploma in business management, he therefore possesses business management skills acquired through his training currently the proprietor is a student at Kabete technical training institute undertaking a diplomacourse in cooperative management. This sevices as an added advantage since he is quite optistic that upon coplesion of the three course he will be in better position to establish and run successfully his own business. 2. 2 BUSINESS LOCATION AND ADDRESS 10 year younger hair and beauty salon is tobe located in Nairobi city Kenya Cinema building on second floor along moi avenue street in Nairobi. A feasibility study carried out by the proprietor of 10 years younger salom revelealed that the demand for hair and beauty services is high among the young girls. Middle aged as well as elderly laides residing in BNairobi due to the burning desire to always stay young beautiful and elegant. This is as a result of the fact tha Nairobi is a fast growing city in population which constitute to more rising need of hair and beauty care among the Nairobi residents. Studies carried out by the proprietor unearthed that there is high poten fial for growth and expansion of the business provided by its good will brought about by fast growing Nairobi city. The proprietor found out that the existing infrastructure in the city such as good roads, water, electricity and proper means of communication, the post office and banking facilities provide an enabling environment for the business to efficiently and effectively offers services to the Nairobi recedents. The study also revealed that the possibility of potential customers is high since Kenya cinema building is at the heart of town and customers can easily reach it. It as well houses other business e. g. Kenya cinema hall for showing movies , restaurants and pubs, salon , cyber cafe, clothing boutique, chemist, computers training college among other and two beauty shops at the ground floor. The availability of raw materials therefore justifies its location of the business since there are beauty shops in its name premise for easy access. This brings about convenience in satisfaction of customers needs since one won’t go for in research for urgently needed raw materials. there shall be labour availability since the business will source its employees from pissot point international school of hair dressing and beauty which is within its city. The name of business and address will be 10 YEARS YOUNGER HAIR AND BEAUTY SALON P. O BOX 3042 NAIROBE (KENYA) Tele: 558590 – 559006 CELL: 0729929732 KENYA CINEMA HOUSE (2ND FLOOR) MOI AVENUE STREET 2. 3 FORM OF OWNERSHIP Ten years younger hair and beauty salon is a sole proprietorship form of business owned and managed by Miss Elizabeth Onyange she is a graduate of KSPS and a holder of diploma in business and office management. She has relevant experience in management skills from her professional training as well as working experience and wall therefore be running and managing its business. 2. 3. 1 WHY SHE OPTED FOR SOLE PROPRIETORSHIP She opted for this ownership because making decision will be fast and independent hence no time will be wasted on taking the decisions. She also opted for this kind of ownership because she will enjoy all the profit by herself and have direct contact with customers more closely and control situations if need be. She also opted for sole proprietorship because there is job security in that she will be the boss. The employer and self reliant the business will be registered on 20th January 20101 and start as operations on 5th February 2010. 2. 4 TYPE OF BUSINESS 10 years younger hair and beauty salon is going to be a hair and beauty care provider itus A sensible type of business. It will offer services to all kinds of people. This cases the old middle aged young as well as children. The business target diratified customers from the existing kind of services offered by existing salon this intends to offer quality services at affordable prices to customers satisfaction. 2. 5 PRODUCTS/SERVICES 10 years younger hair and beauty being a hair and beauty care provider it will provide the following products/services to its customers, perm, curl kit, togging pedicure, manicure, facial scrobs braiding, leaving and marrage. 2. 5. 1 PERM This involves trialing a customer hair by applying hair relaxer to straighten the hair and make it firm. First apply some oil or a little powder onto the seals to avoid aiming since some skins are sensitive. Prouder then to apply the relaxer and let it stcujon for about 15 to 20 minutes. It sometimes might go up to 30 minutes depending on the texture of the hair and strength of the relaxer thorough using hair shampoo and some condition to soften at and prevent the hair from breaking rinse the hair properly and dry it up by rolling it round some roller. Allow the customer to sit in drier for 30 minutes then remove the rollers, the hair is then oiled and combed out to suit the customer’s choice of style and the end product is perm having the hair straight and firm 2. 5. 2 CURL KIT The customers hair is applied some curl kit relaxer that strengthens the hair but in early manner. It is then washed off after its elapse of some time as per the instruction on the relaxer container and rinsed thoroughly. The customer sits in a drier to allow the hair dry up for 20 – 30 minutes the hair is then oiled with curt kit get, combined out and stled according to the customers tade. The straight curl hair is the end product which we call curl kit. 2. 5. 3 TONGING This is where the hair, after being relaxed, it is washed off the relaxer and rinsed thoroughly. The hair is rolled around rollers and the customer sits in a drier for 30 minutes. The hair is then tonged using hot tongs usually heated in an electric machine to certain temperature tolerable to the hair texture. After complete tonging, the hair is then styled up to fit the clients taste. This leaves the hair curled firm and in an organized manner thus tonging. 2. 5. 4 PEDICURE This is where the clients legs are brushed/rubbed, toe nails are washed, filed and cuticles removed to put them into good shape. They are then washed again with warm water, rinsed and dried with a towel, oiled and massaged. The toe nails are then polished leaving them clean and pleasant to look at. 2. 5. 5 FACIAL SCRUB AND STEAM This involves steaming clients face by use of an electric face steamer. The client bows down with her face inside the steamer for about 15 minutes. When the heat/steam gets in to contact with the skin, it opens up its pores thus letting out water and oil under the skin. The blackheads are then removed from the skin/pores using a cleaner which shall be determined by the skin type. The facial scrub is then applied on the face and gently massaged by a beautician evenly in a circular movement using a finger. The scrub is then washed off, rinsed and followed by a toner which cleanses the skin thoroughly, and then a moistener applied to give a pleasant facial look. The process removes the dead skin and blackheads revealing a new, fresh, smooth, soft and gentle beautiful skin pleasant to the to touch. 2. 5. 6 BRAIDING The hair is plaited by adding artificial hair on the natural hair. They are either uniform or in lines or small portions of hair plaited either short or long depending on the size of the clients taste or size of the additional artificial hair being used. The hair dresser may make thick or thin braids depending on how much money the client intends to spend on the braids because the smaller the size of the braids the more money you pay. After fixing the whole hair taking a specific style either in lines or small portions or hair braided, the end result is braids. 2. 5. 7 WEAVING The customer’s natural hair is added on artificial hair inform of a weave. The weave replaces the customer hair enabling it to relax, grow and strengthen leaving the customer satisfied with the artificial weave for a particular period of time. In addition to the above, clients coming for braiding shall benefit since they will be charged according to size unlike the salon around which has a fixed price for braiding no matter the size. Products/services like pedicure will be accompanied by free nail art for the finger nails which other salons in the region don’t offer. For weaving, clients will enjoy the right of coming back for any changes they would like be made provided they come back before the elapse of one month. This makes the products/services more unique compared to those offered by other salons. 2. 6 JUSTIFICATION OF ORPOTUNITY Since the business is located at a convenient place and it gives services in a special way compared to other businesses in the same industry and same locality, there is an opportunity of giving the salon more popularity which will facilitate faster growth. Nairobi has grown over the years in population and the business world and this has made it easier for businessmen to invest more of their properties into the business that it had been in the part for few years. The business venture will also be a success because it intends to satisfy customer’s special needs effectively since it will only hire qualified beauticians and hair dressers from Pivot Point International of beauty and hairdressing in order to emphasize on quality and professional services which will be an advantage over others according to the feasibility study carried out by the proprietors. She also found out that most of businesses in the same services are not keen on the qualifications of whom they employ as long as they can give the service asked for by the customer. 10 years younger Hair and beauty salon will also have a code of dressing for its staff where by the proprietor will have uniforms for them. Uniform of skirt suits and trouser suits will have a logo of the business on them. This will make it special and different from others since it will earn more credibility for its professional manner of dressing thus giving customers some confidence that they are being attended to by a decent staff. It will also identify in the market since staff members will be associated with this business wherever they will be thus promoting awareness to potential customers. The salon will also provide services like accepting visa cards for payment services which is not common with many businesses in the same market according to the study named out by the proprietor. This will attract more customers because of the extension of credit facilities but in a wise manner since it will only be on condition that the client’s bank accepts to debit their accounts. This will not lose money as much as the credit facilities which are only built and dependent on the customer to come and honor their bills. 2. 7 INDUSTRY 10 years younger Hair and Beauty salon falls under cosmetology industry and is where it will operate. It is a growing industry compared to other industries and has bigger share in the market. The salon will adopt modern technology and will employ few employees whose number will increase as the business expands. The industry is getting bigger as well as experiences sales maximization due to the advertisement it airs on T. V through various programs on hair care. 2. 7. 1THE HAIR AND BEAUTY CARE INVENTION Hair dressing is the art of arranging the hair or otherwise modifying its natural state. It has been an important part of the dress for both men and women since antiquity like dress serves a number of functions. Almost all societies have found it necessary tom cut or confine the hair in order to keep it out of the way. They further arranged their hair to fulfill a man’s basic desire for adornment which may vary inform from the ornately curled, blond wigs to sleek shin glad heads of flappers in the 1920’s. One extremely important function of hair styling especially in traditional pre-industrial societies is to indicate statues primitive men for instance fastened bones, fitness and other objects in their hair to impress the lowly and frighten the enemy with their rank and progress. Noble rank among the ancient was indicated by long hair. The religious significance of hair is seen in the shaved hair is seen in the shaved hair of Christians. Hair arrangement could also proclaim age and marital status e. g. boys in the ancient Greece cut their hair and Hindu boys shaved their hair when they reached adolescence. In Europe maidens wore uncovered flowing hairstyle while matrons bound theirs under the veils. From late middle ages, hairstyles in the west have been greatly influenced by changing fashion. 2. 8 BUSINESS GOALS Ten years younger hair and Beauty salon is going to be a profit making enterprise and whose aim will be looking into customer interests and cater for them in order to retain them. This will be achieved through utilization of the skills acquired to provide quality services to customers at fair and affordable prices. The business will also see to it that employee’s needs are taken care of by giving them the most competitive remuneration as well as conducting fair dealings with customers. The business long term goal is expanding it after reaping a precise amount of profit and establishing own school of hair dressing and beauty therapy. This will be much better we will be employing employees from own college directly into the salon. 2. 9 ENTRY AND GROWTH STRATEGY The business will easily gain acceptance in the market area since it intends superior and quality services which is an advantage over the existing business. To popularize the enterprise, intensive advertisement through posters, signposts and billboards will be used. The owner will also ensure that the business premise is colourful and brightly painted to attract the potential customer attention. The owner intends to retain customers through ensuring efficiency in service delivery as well as identifying customer’s preferences in order to maintain them all. The business will also offer services on credit to its most trusted customers as well as entertaining and ensuring that customers not bored while being attended thus will provide magazines for reading. The growth of business shall be known or depicted by such indicators like the increasing number of customers and employees, inadequate equipment and increased number of customers and employees, inadequate equipment and increased overdrawing duties that can necessitate such changes as expansion of the operation rite and employing of new workers. Growth may also require introduction of new products and services which will result to simultaneous sales to match the operation rate and order placement by customers. CHAPTER THREE 3. 0 MARKETING PLAN 3. 1 POTENTIAL CUSTOMERS 10 years younger Hair and Beauty salon’s target customers will be upper class women basically because our prices and services will be desirable and affordable to individuals in these classes. These will be people working mostly in offices ranging from 22 years of age with monthly salary of about Kshs. 20,000 and Kshs. 50,000. There shall be also be a considerable percentage of low class earners with various occupations including those below the above mentioned age group provided they can back up the services by paying. The customers will be served on cash on delivery basis and the services will be available throughout the week. The salon will therefore be open as from 8. 00 AM – 9. 00PM or beyond depending on the number of customers and workload. It shall however be in operation starting from 6. 30 AM during weekends since most parents take their children to have their hair done on Saturdays as well as those who want to furnish up their look when a new week begins. The salon is therefore likely to be busy all the time since every single day people go for different beauty services. Cleanliness and neatness will be mandatory to all customers since most of them work in offices where it is carefully observed. This is evidenced from the modernized residential estates where majority live. Therefore an average number of 6000 customers at the inception of the business is expected which will rise up as the business grows and gets well established. 3. 2 MARKET SHARE The salon intends to cater for Nairobi residents and its environs for its services. With considerable average population of 50,000, it intends to capture 20% (6000 people) of the potential customers which is about 10,000 of the total population in Nairobi city thus averaging to 6000 people for entrepreneurs targeted customers. The nature of competition will be direct with Jawabu beauty and Barbershop, Rio hair and Beauty salon and Urembo Beauty salon as main competitors. However, with the introduction of special care unit, special customers with special needs will get special attention, modernized technology and efficiency in service delivery will put me in a much position to outdo my competitors thus secure a greater percentage to outdo market share in two years i. e. from 20% to 60%. The market will be distributed as follows Jawabu hair salon5900 x 100=19. 7% 30,000 Urembo hair salon9500 x 100=31% 30,000 10 years younger6000 x 100=20% 30000 To present this on a pie chart this will show the competitors and the amount of quantity in the market in percentages. Jawabu hair salon19. 7 x 360=70. 9 100 Urembo hair salon31. 7 x 360=114. 1 100 10 years younger20 x 360=20% 100 A pie chart showing the market share. 3. 3. 2 COMPETITORS These are a number of competitors in the same locations during the same kind of business but the products but the products and services they offer are not satisfactory to customer’s expectations according to the study carried out by the proprietor. These include Jawabu hair and beauty salon and barbershop, Urembo hair and beauty salon, And Rio hair salon. The salon shall be located on the second floor of Kenya Cinema Building as compared to others located on the third and fourth. This is an added advantage since customers find it tedious and tiring to climb up the stairs because of lack of elevator to lift them up. Below are the competitors’ strength and weaknesses 3. 3. 1 JAWABU HAIR AND BEAUTY SALON It is already established over the last three years. Due to its long life in business, it has an establishment capital base and has been able to expand and open another branch in Yaya centre, the presence at the barbershop within the same shelter also attract more customers since ladies who accompany male customers for a shave may opt for the service or the other it has loyal customers. Weaknesses Its employees charge different prices for the same hair styles under different occasions. Thus they do not share a common price list which puts off customers since they are able to afford the service at a time and unable to attend to buy different staff, because the price is either lower or higher from what they were charged the previous time. The salon doesn’t hire strictly professional hair dressers and beauticians but just employ as long as they can provide service without paying much attention to quality. 3. 3. 2 RIO HAIR AND BEAUTY SALON Rio beauty Salon is a branch of Jawabu located at Yaya at Chaka place. Strengths Is already an established salon and has been in existence for the last one year and a half. It’s location enables it to attract the high profile clientele since it is in one of Nairobi’s suburb areas. It therefore has an established capital base hence has been able to curve a niche for itself and has existing customers. Weakness Its location does not favor it much because not all clients would drive to Yaya after long day at work to have their hair done or get pedicure or even massage. The hair packaging is inconvenient to ordinary customers since payment for retouch is not inclusive for hair styling. 10 years younger salon intends to package products differently to make them attractive and be able to justify its pricing 3. 3. 3 UREMBO HAIR AND BEATY SALON Strengths Has been in operation for six years now, has vast knowledge services being headed by a professional and qualified hair and beauty therapist situated at Barclay’s plaza where there is secure parking and the right ambience and atmosphere. The proprietor is a well known figure with political acquaintances as well as top executive in the country and benefits from having a beauty school qualified personnel. Weakness Lack of niche curving hence the privacy of high profile clientele is not achieved as many would want thus with time the prestige come with the word Urembo will no longer exist. It’s gradually wading away because the standards have been maintained. Every other ordinary Kenyan can visit the hair parlor. 3. 4 PRICING STRATEGY The proprietor intends to adopt a cost based pricing method, several factors shall therefore put into consideration when setting price for the service the cost involved in obtaining products that will be based in the business as well as promotional costs incurred and then adding enough to cover direct expenses and overheads plus the profit. This will ensure that the proprietor breaks even and guard against losses since all costs will be covered. The selling price will therefore be calculated as selling price= cost of materials = other expenses (transport, promotion and advertisement+ profit). Other factors like the competitors price shall also play a role in arriving at the final price for services as well as the demand for services. They will be charged affordably compound to competitors i. e. Kshs. 30. 00 difference less than or more than depending on the type of the services being offered. The proprietor shall consider 25% for himself and at times after discounts especially during special holidays like valentines, Easter, Christmas and other public holidays. Government policies shall also determine pricing to an extent e. g. heavy duty imposition on the higher price charged, most trusted and with established customers shall be offered credit facilities to be paid for after one month expectation but no interest shall be charged. 3. 5 SALE TACTICS The salons services will be provided directly to customers from one centre. This means that all clients shall be met served in the business which will provide a perfect opportunity to relate with the client. The business shall not at any time involve any distribution or agent in delivering services and potential customers will be coming at the business premises by themselves. Receipts will be processed for the clients or control purpose and for easy documentations of the day’s returns. Due to the future of the proprietors clients work. The proprietor will require that appointment be made earlier for better planning and service delivery. 3. 6 METHOD OF PROMOTION AND ADVERTISING Since the business will be new in the market, the proprietor shall use several forms of advertising and promotion to make it known to a vast population to create a great deal of publicity and awareness. This will help increase sales. 3. 6. 1 ADVERTISING To inform the customer of the new business and the services available the proprietor will use the following. Posters Larger posters with colourfull decorations will be printed and strategically placed on several walls of premises, trees to capture the attention and potential customers. The posters will enable them to learn of the new salon to be opened. They shall welcome all the esteemed customers to a grand opening of the new salon. The method is much cheaper and effective since it will only require printing on a sheet of paper, which it will only about 500 copies with an estimated cost of kshs. 5,000. Signposts There shall be one large sign post outside the business premises with bright colourful and legible writing on it informing of others. Sign posts shall be made at convenient places indicating the location of business for customers to easily trace it. The products and services to be offered shall also included in the signpost thus an estimated cost of kshs. 1,500. 3. 6. 2 PROMOTION Regular promotion campaigns and sale promotion will be organized at least twice every four months more so during mid month when customer caring has dwindled. This will include giving discount of 10% of the charged. Selling price which is 100% (100% 10%) reducing to 90% which is affordable by customers at such time of the month. Free services like cutex application shall also be offered during the time of promotion thus an estimated cost of kshs. 3500 thus amounting to the total cost of kshs. 10,000 for the advertising and promotion. 3. 7 DISTRIBUTION STRATEGY The flow of services will be directly from produce to customer; this implies that the producer who is the proprietor and staff will be delivering services directly to the customers. This shall help in building and cultivating good relationships with customers and personal contact with them. Service consumer This channel will as well ensure flow of information on what the customers feel should be done to improve the quality of services when necessary. As for transportation a material/products an estimate of about Kshs. 5000 will be required to cater for transport coast from the supplier that so located far from the business premises and their within Nairobi city which shall require little cost. CHAPTER FOUR 4. 0 ORGANISATION AND MANAGEMENT PLAN The chart below shows an organizational structure of various levels of personnel. GENERAL MANAGER OFFICE ADMINSTRATOR HAIR DRESSERSBEAUTICIANS SHMPOO GIRLSCLEANER/MESSENGER 4. 1 BUSINESS MANAGEMENT AND QUALIFICATION 10 Years younger hair and beauty salon is to be managed and solely run by John E. Onyango as the general manager with the assistance of an office administrator. He will be accountable for all business transactions or a daily business having undergone a six month training hence process a certificate in hair dressing. He has also gained considerable business management knowledge having studied entrepreneurship education in his currently pursued course. Duties Setting goals, policies and other objectives for business. Staff recruitment and firing. Making and approving decisions and overseeing the overall and the daily running of the business. Approval of supplies as well as suppliers. Making payments to creditors and staff salaries. Arranging for business finance with banks and other financial institutions. He will also have other responsibilities like ensuring business success, proper and effective communication. 4. 2 PERSONAL NUMBER AND D