Monday, January 13, 2020

Ducati Case Analysis Essay

Executive Summary As of year 2000, global motorcycle market is dominated by a handful of players. Japanese manufacturers such as Honda, Yamaha, and Kawasaki are low cost players while Harley and Ducati are in the high end of the spectrum and have been able to successfully establish themselves as a premium brand. Harley dominates the cruiser motorbike segment and is a really strong player in the US, where it has a big fan following and loyal customer base. However Ducati has been struggling to increase market share and reach to Harley’s level of profit margin that is highest in industry. Ducati is self discovering itself with Minoli to target right customer segments, retaining its core competencies and establishing its brand image for which Ducati stands for. Minoli’s consideration of entering into Harley’s niche market of cruisers is an excellent choice for Ducati’s future growth, as it reinforces the premium flagship of products that Ducati is famous for. We recommend Ducati develop a â€Å"sports-cruiser† motorbike that offers the riding style and comfort of a cruiser such as Harley Davidson, and yet be fast and nimble. We also recommend offering customization capabilities through and company-owned stores as well as single franchise stores that would continue to offer the same legacy and brand association that Ducati loyalists prefer. The motorbike will be priced at E12,000 (USD 16,200) which is right in the range of Harley’s custom cruiser motorbikes and will take a  step away from Ducati’s current line of sports bikes. This move may seem a bit risky at first, but the fact that Ducati’s R&D expenses will be fairly low due to availability of high quality engines and large su pplier pool; this will not require significant new investment to the current setup. Additionally, the company will be able to entice new customers in a niche segment with high margins and get a significant opportunity for gaining market share. Also, Introduction of these motorbikes in Europe initially will also reduce the possibility of a backlash from Harley who is the leader in the US market. Ducati can then expand to US once they have acquired some sales momentum. Ducati does not expect retaliation from the low-cost Japanese players as it is still positioning itself as a premium manufacturer. However, there is still possibility of new entrants or Japanese makers to introduce a knock-off model in which case Ducati will be able to distinguish itself on attributes including high performance, customization, brand image and the prestige that it has historically enjoyed and is respected for in the industry as well as the global market. Evaluation of Global Motorcycle Industry Honda, Yamaha, Suzuki, Kawasaki and few of high end premium manufactures that include BMW, Harley-Davidson, Triumph and Ducati comprised the Global motorcycle Industry. These manufacturers compete in different market segments and select demographics based on different attributes and styles of motorcycles across the product offerings. Our analysis of the industry is summarized using Porter’s Five Forces analysis (Exhibit 1) Suppliers: Recent trends in the motorcycle manufacturing have been leaning towards outsourcing of most motorcycle components and the companies doing the final assembly in-house. Most manufacturers have multiple choices of component suppliers that they may switch at will. This strategy provides them with high negotiation power, reduced fixed assets, and greater flexibility to meet changing market conditions quickly. However, the companies need strong commitment from their suppliers for a quicker turn around, efficiency and quality. Buyers: Customers/end users have been categorized into different segments such as knee-down riders/fast riders, easy riders, hot rods/urban riders, and weekend riders. These riders choose the bike based on performance, lifestyle, function and comfort. A motorcycle is a highly  differentiated product that is used for transport and has lots of alternatives or competitors, and for this reason buyer power is high. Customers have myriad of choices ranging from different styles of bikes such as sports, super sports, off-road/dual purpose, cruisers, naked bikes, etc. to different brands including high end names such as BMW, Harley Davidson, Ducati, and low price options from Honda, Kawasaki, Suzuki, etc. Entry Barriers: The motorcycle industry is very difficult to enter and compete in due to high capital investments spent on R&D, well-established relationships with suppliers, and strong brand loyalty and recognition that has been established for decades. Motorcycles are becoming more and more technologically advanced, which makes it very difficult for a new entrants to compete on a similar level without large amounts of capital and innovative differentiators. Rivals: Rivalry between the eight major motorcycle manufacturers can be considered high. The total number of motorcycle manufacturers has declined dramatically, with only one major manufacturer remaining from the US. These major players are fierce competitors and are vying for market share based on the brand, style, attributes, service, and price (especially Japanese companies). As a result of such high competition within the industry, manufacturers constantly need to improve designs and functionality. Substitutes: Lastly, several substitutes are available if we consider motorcycle only as a mechanism of transport. However, in many cases, a motorcycle is beyond a mere mode of transportation as a curator in the case said, it is a â€Å"perfect metaphor for twentieth century.† Riding motorcycles provide a unique experience, and it has been a cultural icon as presented in a number of Hollywood movies. In this sense, threat of substitutes, which may be sports cars and racing cars or other mode of transportation, could be considered fairly low. The following section describes changes in the industry and how that affects Ducati. Industry Changes & Implications on Ducati: The industry is advancing at a high pace today due to technological innovations, such as the introduction of electronic components, advent of CNC and CAD technologies, advances in material science to introduce lighter and stronger composite materials. Superior engine performance combined with lower emissions and fuel consumptions is rapidly changing the face of the industry and competition. There is also a push from the manufacturers to improve  components like sophisticated air assisted forks, mono shock rear suspension, and front and rear disc brakes to meet the customers’ hunger for better quality as derived from market survey results and customer feedbacks. These technological changes and quality improvements are positive for Ducati who is abreast on its technological innovation and performance. Advanced engineering and state of the art technology have always been Ducati’s strengths, as evident by the number of World Superbike Championships won by Ducati between 1990 and 2000 (8 victories). Lighter materials help Ducati to continuously improve its already superior performance and retain its position in the sports segment where it already has a stronghold. Additionally, the outsourcing of components and in-house assembly platform of manufacturing turns in favor of Ducati as most of Ducati’s suppliers are concentrated in the Emilian district – a major hub of specialized parts and components suppliers. Ducati typically enters into short-term contracts with its suppliers. Effectively, Ducati has enjoyed a strong hold on its supplier base which in turn has made them the most-efficient manufacturer in the industry and this strategy will continue to provide them the flexibility and edge in design and sourcing of new components going forward. Ducati’s Current Strategy Frederico Minoli, the CEO of Ducati, had two strategic goals in mind when he took over: double digit growth and equaling Harley-Davidson’s profit level of EBITDA margin of 20%, which was the highest in the industry. The challenge was split within the company into polarized directions; Engineers wanted to continue company culture of high focus on product, and Minoli wanted to appeal to broader spectrum of customers and not just extreme riders. The following section provides our analysis of Ducati’s current strategy using Strategy Diamond method (Exhibit 2). Arenas: Ducati primarily offered performance bikes in sports and street category, which are broadly identified as Hyper-sport, Super-sport, Naked and Sport touring. They face tough competition from Japanese manufacturers such as Honda, Yamaha, Kawasaki and Suzuki, who have captured the lion’s share of the market. Research shows that a large number of new registrants are categorized under customs and small motorcycle segments with 32.7% and 22.9% market share respectively in 2000 (Case Exhibit 2). Ducati is lagging behind  in this segment as far as the market share goes. In regards to geography, Ducati has distribution through Italy, US, Germany, France, Japan, UK (Case Exhibit 14). Ducati currently attracts and retains young male â€Å"knee down† riders and racing aficionados who associate Ducati with extreme performance and functionality, and recently there has been an increase in women customers (who comprise of 8% of their Monster line – their most popular model). This could be a growing segment that Ducati has not yet considered. Lastly, Ducati’s products are in the sports niche; 41% to 54% of its customers own large bikes greater than 500cc. It gradually entered in sport touring category to address older customer base and also entered into accessories and apparel b usiness by acquiring Gio.Ca.Moto which produces line of accessories for Ducati. Nonetheless, Ducati’s limited editions in 1999 were icing on Ducati’s portfolio. Vehicles: Ducati has excellent engineers and designers who themselves are fanatics of the motorcycle- they are purist â€Å"knee down† riders, and have strong beliefs in speed, performance, and passion for races. Ducati invested a large proportion of their revenue in designing new technology, development of products and human resource management. Ducati’s core strengths including the Desmodromic valve distribution system and the technical superiority of its engines, and their collaboration with other firms such as Lamborghini and Ferrari fueled Ducati’s growth. Ducati advertises through specialized magazines and focus on the Italian style, history, young riders, and a sporty attitude. website used the internet as a vehicle, and sold 500 units of a limited edition in 31 minutes and 2,000 units in 10 days at different times, educated customers, and created awareness about its brand, this has been a real win for Ducati. Differentiators: Ducati’s goal was to improve average quality of dealers and increase competence sales force unlike Japanese manufactures who utilized multi-franchise retailers to sell multiple brands with less specialized knowledge of products. Secondly unlike their competitors, they established Ducati clubs approximately 400 which allowed members to â€Å"live† at racing events and get inside access to teams. Ducati also participated in social events and museum tours that has helped Ducati disseminate information about its history and brand which increased customer loyalty and helped acquire new ones. Ducati is heading in the right direction but is still far from Minoli’s vision to enable and foster dealers  to connect with clubs more easily. Staging: Minoli strategized Ducati to turn into a powerful brand and would move away from just competing with Japanese brands. Ducati decided to build museum instead of fixing the raining roof and that’s one key factor in building the brand image of Ducati and sending the right signal to employees and customers. It then identifies the 5 core attributes that Ducati signifies – technologically advanced engine, tubular trestle frame, Italian style and its unique engine sound. Ducati was able to reduce the time to market effort for all its new products utilizing their research centers muscle. Another important decision Minoli took was entering into accessories and apparel producing business. This created the â€Å"world of Ducati† a very successful initiative to build on Ducati brand and strengthen its customer loyalty. Economic Logic: Ducati is a premium brand that consumers appreciate and regard highly. The brand image and legacy allows Ducati to keep prices high and hence reap high profit margins on its motorbikes, accessories, apparel, etc. Ducati motorbike prices can max out at $21,895 compared to $14,350 for Harley Davidson, $9,500 for Triumph, and $9,300 for Honda. Also, its limited edition bikes were sold at world-wide price of E26,000 that made Ducati reap huge profit margins. Ducati’s own marketing and distribution process and exploiting power of internet ( helped it retain most of its profit and have higher margins and they controlled their production costs by standardizing components, (eg: only two crank case and 3 cylinder designs).. Recommendations and Specific Actions Arena: We recommend Ducati to design and launch a custom sports-cruiser bike targeting sports bike fans, who would prefer the riding comfort, style, and customization of a cruiser. This new product is essentially a fast motorbike that has a sports engine morphed into cruiser style chassis. We also recommend offering customization services to suit the style and needs of our individual customers. This will be introduced initially in Europe and eventually in the US and Asia. Europe is the market where Ducati has experience, design expertise, preferred supplier base, proximity to racing arenas, and association with other world-renowned sporting car companies like Maserati and Lamborghini. Hence, building a strong foundation in Europe first provides the advantage that is very hard to imitate by others. Our  target segment is riders in the age group of 30-50 who like the comfort and the style of a cruiser, and yet prefer the power, speed, and especially the handling that is synonymous to a sports bike. Additionally, there is interest in customization especially for cruiser segment that we would like to exploit and offer as an added benefit to our customers. Furthermore, we will leverage light-weight design components (magnesium alloy frame, carbon fiber body and parts) to provide the performance edge needed in a sports bike. This will attract young riders as well as women, who typically prefer lightweight bikes. Vehicle: Initial launch will focus on current Ducati owned stores. This will help us gauge customers response; provide early feedback from Ducati loyalists, as well as opportunity to attract customers using word-of-mouth advertising. Based on the feedback and learning from this rollout, we would be able to identify other possible locations to open new stores (combination o f company owned and single-franchise dealers), starting from Italy, and then expanding out into the European sub-continent. We do not plan to open any new stores immediately, until the market picks up and demand is more than 25% of existing sales. The assumption is that any increase within 25% of sales volume can be managed via the existing stores. Any franchising will be done through single-franchise dealerships so as to maintain more control and emphasize quality. As a long-term plan, we also would like to add 10 new Ducati owned stores leased at strategically important cities around Europe, which would cost us E10M (E200K/year) over 5 years , and another E5M for maintenance (design, upkeep, staffing, taxes etc.) Differentiators: Customers value Ducati for its brand, high performance engines, strong association with racing, Italian style, and the unique sound of its engine, among other things. We believe that our strategy will help maintain our core competencies and resources intact, while allowing us to expand into newer space as well. The customization services that we also plan to offer along with our product will be a value-add service to Ducati loyalists, which can be priced at a premium. These customization services include different body styles, paint schemes, accessories etc., which will benefit from the availability of the large pool of supplier base that we have local access to. This large and varied supplier base also provides Ducati with buying power and quick turn-around time of new designs. Advertising expenditure for Ducati comes to about  three times that of Harley in the year 2000 alone. About 14.5% of gross revenue is being spent on advertising, marketing and sales effort, close to about what we get in return as our net income. We do not plan to cut down on advertising and marketing but will have to come up creative, more cost effective ways to get our message out there to reach a broader spectrum of customers like Minoli envisioned. Using channels such as word-of-mouth, social-media, YouTube videos, collaboration with sports bike bloggers, commentators, and also investing and expanding Ducati fan/owners clubs are ways we can leverage cost-effective marketing techniques. Economic Logic: Our R&D team (including HPE) already has several high-end performance engines that can be utilized in designing such a bike, hence we feel our major R&D expenses will be towards the design of the frame and body components. This will reduce our overall R&D spend, as compared to a full blown redesign/production of a new engine technology. Furthermore, we only need about E2M for R&D expenses; E5M for CAPEX, leaving the remaining E12M for advertising. This CAPEX budget covers the additional manufacturing capacity as well as assembly line expenses. We plan to leverage the existing network of suppliers by continuing to outsource. We forecast a sale of 3,300 bikes to be sold in the first year after launch (initially Europe only), priced at E12,000 ($16,200 per unit), see Exhibit 3, which is 2% of the worldwide cruiser/custom motorbike market, where Harley is the leader. Ducati was able to sell about 3,500 units of its sports touring after launch, so we think that we should be able to meet this forecast of 3,300 for the new sports-cruiser hybrid. Thereafter, we project a 10% growth in sales in the 2nd year, and thereafter about 15% growth in the 3rd, 4th and 5th year. We are assuming that the life-span of a design is typically for 5 years; thereafter, this design/model would be retired or become obsolete. We would price the bike at about E12,000 so that it is not seen to be a cheap bike, while at the same time making sure it is not too expensive for Ducati fans to buy. At a discount rate of about 8% and an initial investment of E17M to launch the product in Europe, we anticipate a net return on investments of a bout E16.8M in 5 years. Major Internal and External Risks Currently, there is no market research available that shows a segment in Europe and US who would like to have a hybrid cruiser that drives as a  sports bike. The retail chain and distribution channels available in Europe and the US are perhaps more familiar with Harley-Davidson dominating the cruiser segment, and the Japanese players competing in both the cruiser and the sports segment in Europe. Ducati is a world renowned Italian sports bike brand and although we are positive that we will have considerable success in carving out a sizable market segment with this new product we plan to launch, there is always a risk in going after a new market segment, especially a niche segment. Significant capital would have to be invested to arrange ad campaigns, events, retail chains to raise awareness, all before a dime is earned. Internal Risks: Ducati’s expertise lies in the sports bike arena, and it has never offered a cruiser style motorbike. The needs of this customer segment are definitely different than the sports bike segment, and it is possible that Ducati could run short on delivering a product that meets the needs of the segment itis targeting. Ducati may not necessarily have the skills or the expertise to provide this sort of value to its customers. Translating and adapting its core skill-set to a different model type to develop a product more aligned with the cruiser model is not going to be easy. Also, this move could upset hard-core Ducati fans, who would not want Ducati to be associated to anything other than sport bikes. Ducati could possibly risk losing their loyal fan base, if it were to diversify into bike-variants other than sports. Diversifying too far from what Ducati is known for also puts the reputation and prestige of the company and its engineers who have become respected and well-known in the industry for making high quality performance bikes. The technical excellence and performance that Ducati is so well-known for around the world could well be seen to become diluted by moving into a cruiser bike segment which historically has been associated with a different demographic segment altogether. Yet, by carefully positioning this new product to be a sports bike at its core and by re-establishing our commitment to producing high-quality performance bikes that we have come to be known for, we could potentially re-assure our current fans. External Risks: Harley Davidson has dominated the custom cruiser segment for years with a very loyal fan base and supplier chain. Ducati’s entrance in this segment will be seen as an aggressive move by Harley, and Ducati must be prepared for some backlash. Harley has a strong network of suppliers, and distribution channels in the  US, and has set high entry barriers for Ducati in the US market. Ducati’s suppliers are primarily located in Bologna, and hence Ducati has enjoyed the benefit of being in close proximity to a large pool of supplier base and component manufacturers. Going with sports cruiser hybrid could mean that Ducati may need to establish relationships with a whole new set of suppliers based out of the US. US suppliers might not necessarily have a sense of the Italian style, a core value that the product provides. Therefore, we do not plan to enter the US market just yet, thereby preventing getting ourselves into a face-face with Harley. Once we build some credibility with customers in Europe, where we have a strong supplier base, and a decent distribution channel, we could potentially launch in the US in 2-3 years time frame based on the success of this launch. European markets have been dominated by Japanese players in sales volume, and entering the market could prompt them to bring out a competing product of their own, which could eat into the market share that Ducati is hoping to grab with this hybrid. If Ducati does not differentiate its product and service offerings enough, there is a risk of being dragged into a price war with the Japanese. However, this is the arena where Ducati shines and has made its name- superb performance, exquisite design, and the racing dominance. By strategically positioning our product for a whole new segment of customers Ducati can protect itself from appearing to start a war. By providing additional customization services, which would be charged at a high premium, we separate ourselves by going after an audience who is not a typical low-cost Japanese bike buyer. BMW successfully launched and defined its own cruiser and so can Ducati! Exhibit 3: Projected Sales Year Unit Sales Growth Units Sold Price/Unit (in Euros) Total Revenue EBITDA 0 -â‚ ¬17,000,000 1 3,300 â‚ ¬12,000 â‚ ¬39,600,000 â‚ ¬6,930,000 2 10% 3,630 â‚ ¬12,000 â‚ ¬43,560,000 â‚ ¬7,623,000 3 15% 4,175 â‚ ¬12,000 â‚ ¬50,094,000 â‚ ¬8,766,450 4 15% 4,801 â‚ ¬12,000 â‚ ¬57,608,100 â‚ ¬10,081,418 5 15% 5,521 â‚ ¬12,000 â‚ ¬66,249,315 â‚ ¬11,593,630 NPV â‚ ¬16,862,800

Sunday, January 5, 2020

Into The Wild A Reflective Analysis - 1406 Words

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Saturday, December 28, 2019

Rhetorical Analysis Of John F. Kennedys Cuban Missile Crisis

President, John F Kennedy, in his speech to the american people, â€Å"Cuban Missile Crisis,† recounts a time when the U.S was at its closest to a nuclear war against the soviet union due to nuclear missiles being planted in cuba. Kennedy’s purpose of this speech was to inform to the american people that he has decided to quarantine Cuba and of what his thoughts were of the current situation at hand. Kennedy uses a sentimental tone throughout his speech to appeal to similar feelings that his citizens are experiencing. Kennedy effectively informs his audience of the sighting of missile sites found through Cuba and what his resolve to end this would be through the use of ethos, pathos, and logos paired with rhetorical devices . By October 1962,†¦show more content†¦John F Kennedy begins his speech to the american people with an appeal to logic. He uses Logos to convince his audience by using facts or statistics. 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Friday, December 20, 2019

If the Coat Fits, Wear It - 1268 Words

|CASE: â€Å"If the Coat Fits, Wear It† | | | EXECUTIVE SUMMARY Andy Pratt, the founder of The Innovative Sporting Goods Company, had developed a sound technique of making baseball bats and thus the company had gained a national reputation. Yet, a new machine had been developed in the industry and it makes baseball bats more durable and powerful. The ISG Company is trying to decide whether to replace the old machines with the new ones or not. Up to now the head of†¦show more content†¦So, we adjusted the cash flows for inflation. After adjustment, we conducted an NPV analysis by using the new cash flows. We reached a positive NPV, which means that the ISG Company should replace the old machines with the new ones. Replacement will enable the company to make more profits. 1- Basically we first have to find the incremental cash flows and then calculate the NPV. If the NPV is higher than zero; we are going to accept the Project. In order to find the cash flows we need to do the following steps: 1- Calculate the changes in revenues by finding sales revenue for both machines for ten years and subtract the old from the new for each year. 2- Calculate the changes in costs by subtracting the operating costs of old from the new and add them to the material, labor, general and administrative costs. (We have to calculate the material, labor, general and administrative costs although it remains constant because the $10 is per unit and unit changes year-by-year for each machines) 3- Calculate the depreciation for old and new machine and subtract the old from the new. 4- Calculate EBIT for each year by subtracting change in costs and depreciation from changes in revenues. 5- Calculate the taxes for each year by multiplying 35% with the EBIT for each year. 6- Calculate the Net Income by subtracting Taxes from EBIT. 7- Calculate theShow MoreRelatedIf the Coat Fits Wear It1282 Words   |  6 PagesSolution to Case 103 IF THE COAT FITS WEAR IT – TEACHING NOTE Questions 1. Your supervisor, Vic Gonzales, has asked you to prepare a capital budgeting report indicating whether ISGC should replace the existing machine or not. Indicate how would you proceed (without making any calculations)? I would estimate the incremental cash flows over the economic life of the new machine, taking into consideration the after-tax salvage values of the old and new machine respectively. Changes in net workingRead MoreIf the Coat Fits Wear It1273 Words   |  6 PagesSolution to Case 103 IF THE COAT FITS WEAR IT – TEACHING NOTE Questions 1. Your supervisor, Vic Gonzales, has asked you to prepare a capital budgeting report indicating whether ISGC should replace the existing machine or not. Indicate how would you proceed (without making any calculations)? I would estimate the incremental cash flows over the economic life of the new machine, taking into consideration the after-tax salvage values of the old and new machine respectively. Changes inRead MoreUniform Appearance Of The Army Uniform1441 Words   |  6 Pagesuniform should also understand that one must understand that you must meet the standards of wear and appearance that includes maintaining staying fit and maintaining proper shape as to fit the uniform properly. The Army requires an individual to keep a certain level of fitness as to maintain combat readiness and that means if your rolling around in a uniform with your gut hanging out, how can you properly wear proper protective gear such as plate carriers. In my own words if lack the proper shape andRead MoreThe Positive Effects Of Fashion Has On One s Life1363 Words   |  6 Pageshow fashion can help you fit in and find your spot. No one likes being by themselves. We all want to fit into a group or find people who sha re similarities with us, but it is not always that easy. Fashion can play a major role in helping you find where you belong. It not only gives you a way to express yourself , but it also portrays a part of you that you want other people to notice. The clothes you wear can essentially help create a community around you. If you wear a t-shirt that shows yourRead MoreCalvin Klein Essay1410 Words   |  6 Pagesexcelled in art and drawing and upon graduation went to the High School of Industrial Art. After that he attended the Fashion Institute of Technology. (Marsh) After graduating from the Fashion Institute of Technology in 1963, he worked for womens coat and suit manufacturers in Manhattans garment district before opening his own business in 1968. He did not study with any other notable designers but he relied on his childhood friend Barry Schwartz for career advice. Schwartz loaned him $10,000 inRead MoreThe Positive Effects Of Fashion On Your Life1364 Words   |  6 Pageshow fashion can help you fit in and find your spot. No one likes being by themselves. We all want to fit into a group or find people who share similarities with us, but it’s not always that easy. Fashion can play a huge role in helping you find w here you belong. It not only gives you a way to express yourself , but it also portrays a part of you that you want other people to notice. The clothes you wear can essentially help create a community around you. If you wear a t-shirt that shows yourRead MoreThe General Dress Code Follows The Principle Of Tpo1457 Words   |  6 Pagesposition, and o for the object. The â€Å"tpo† principle is about your clothes accord with the season, the place, and the identity; meanwhile, the dress should be based on different associating purposes and object. In brief, you must dress up appropriately and fits the occasion(Lee). Additionally, we have heard the phrases like â€Å"Clothes make the man† and â€Å"Dress for success†, which make dressing up so important that it would influence your life. â€Å"Lefkowitz, Blake, and Mouton (1955) had an experimenter inRead MoreSavvy Shopping Tips For Shopping Store Essay1152 Words   |  5 PagesShopping Tips to Keep You stylish, Sassy, and Solvent. Staying stylish, sassy and solvent does not have to be costly. One can still stay on trend while on a tight budget. While some people love to shop, others do not. Creating a style that perfectly fits one budget and needs is critical. One can still enjoy looking fashionable by combining some thrifted pieces with store bought items. Looking sassy does not have to be expensive. Some of the tips to consider when shopping include: Define Your StyleRead MoreHow Old Equipment from the Past Differs from Present Day Equipment1030 Words   |  4 Pagesalso firefighters use to wear a long wool fire coat, long boots, and fire helmet. John Roberts, a miner, made a mask to filter smoke from inside a smoke fill environment by 1825. (Hasenmeier). Jackets not the same firefighters wear today because firefighters never enter the structures, therefore normal clothes worn since the fighter never would come in contact with fire. The Three-quarters boots worn back then to protect the legs while the trench coat long enough to protectRead MoreHistory of Clothing778 Words   |  4 Pageswrapped around the legs as well. The length of the skirt varied depending on the fashion of the time - in the time of the Old Kingdom they were short while in the Middle Kingdom they were calf length. During the New Kingdom period it was fashionable to wear a pleated garment. Rich Egyptian men were able to afford the best quality linen which was very fine and almost see-through. Rich Egyptian men also wore as much jewelry as they could afford and decorated their clothes. They also wore headdresses for

Thursday, December 12, 2019

Organizational Excellent Quality Management -Myassignmenthelp.Com

Question: Discuss About The Organizational Excellent Quality Management? Answer: Introduction The issue that has been presented in the question is that an overview into a manufacturing company has been asked to provide. This particular study aims to focus on the managerial accounting techniques undertaken by the selected company. This particular task has been carried out by the scrutiny of the annual report of the selected company and other related documents. The particular company that has been chosen for the purpose of the study is Apple. It has been asserted by the management of the company that the products offered by this particular multinational company have been designed in such a way that these particular products blend with the lifestyle of the clients and customers. This particular study aims to look into the organizational structure of Apple Inc. The value chain of the manufacturing has also been discussed. Lastly, two situations have been identified when the decision-making by the management of the company has been displayed and evaluated accordingly. Furthermore, particular recommendations have also been provided in regards to the selected company. Apple Inc. Apple had been founded in the financial year of 1976. This was one of the first technological companies that had been started with the primary aim to serve the individual customers rather than the large computers. Steve Jobs and Steve Wozniak had founded the corporate entity in the year of 1976. The current Chief Executive Officer of the company is Tim Cook. A formal structure in regards to the management of the company has been laid down (Ramesh and Andrews 2015). Executive Profiles Functions Tim Cook Chief Financial Officer Katherine Adams Senior Vice President and General Counsel Angela Ahrendts Senior Vice President Retail Eddy Cue Senior Vice President Internet Software and Services Craig Federighi Senior Vice President Software Engineering Jonathan Ive Chief Design Officer Luca Maestri Senior Vice President and Chief Financial Officer Dan Riccio Senior Vice President Hardware Engineering Philip W. Schiller Senior Vice President Worldwide Marketing Johny Srouji Senior Vice President Hardware Technologies Jeff Williams Chief Operating Officer Board of Directors Steve Dowling Lisa Jackson Isabel Ge Mahe Tor Myhren Deirdre O'Brien The major products offered by this particular company are as follows: iPhone iPad Macintosh Apple Watch macOS iOS Final Cut Pro Keynote Logic Pro macOS Sierra Pages iOS 10 Numbers iLife Apple had been initially founded to meet up to the individual computing needs of students, creative professionals, educators and other consumers all over the world. Their value statement had been, integrating the application of the computers to the average users. The management of the company strives towards continuously innovate the offered products. The mission and vision statement of Apple has been establishing itself as the potential symbol of innovation and elegance. However, it should be noted here that the mission statement of Apple has been further changed and modified in order to suit the changing market conditions and trends. The current mission statement indicates the financial performance of the company in regards to details about certain lines of products that have been included to show the current condition of the firm. The vision statement of the corporate entity is comprehensive and contextual and provides a clarified image in regards to the mission statement of the c ompany. The statement also displays a higher degree of suitability to the current condition of the company. However, there are certain areas in which the mission statement can improve. To be more precise, more information could be provided pertaining to the fields of product innovation and market leadership (Kuglin, Crosser and Haynes 2017). The line and staff function of the organization possesses the required skills for facilitating the successful operation of business. Apple promotes a functional organization. This fact is further supported by the executive skills that is possessed by the directors of the company. The diversity of the executive profiles also lead to the formation of functions that are common to every product line (Hennessy and Najjar 2017). Value Chain The analysis of the value chain strategy that is adopted by Apple gives an overview into the marketing strategy that is followed by this corporate entity in order maintain a continuous stream of inflow of revenue. Apple follows the principle of substitution. This means that the organization has always maintained a continuous substitution of their, own products. This has not only facilitated the sufficient innovation of the products but also enabled the organization to acquire a leadership position in the market (Hennessy and Najjar 2017). Apple highlights a significant value chain due to the following reasons: Inbound logistics of the firm has been of high degree of quality The processes in relation to production are developed and innovated from time to time in order to add value to the offered products of the firm Outbound logistics of the corporate entity also maintain an improved standard Therefore, as can be deduced from the discussion in the preceding paragraphs, the operating structure of Apple reflects a value chain of high quality. This has been essentially facilitated by the aggressive campaigning, slick looking products, creation of heavy buzz in the market prior to the launching of a new product. Moreover, the degree of innovation that has been incorporated into the products majorly contributes to the elevation of the value chain of the offered products by the firm. Moreover, the after sales service facilities provided by this particular entity also enhance the value chain of Apple (Goetsch and Davis 2014). Planning Apple primarily focuses on management planning and intends to create defined strategies in relation to planning. These strategies can be listed down as follows: Focusing on the product experience by the consumers The management of Apple engages in the continuous innovation and substitution of the products. Prior to the phase of marketing the products, the corporate entity involves in rigorous scrutiny of the product in terms of customer use. Moreover, the substitution principle involves the incorporation of the customer complaints, which further improves the products and enhances the suitability of the selected products to its users (Chambers 2014). Generation of curiosity among the customers The marketing department of this particular corporate entity follows a unique strategy. This particular strategy aims at generating curiosity among the public by launching short-term teasers about the products. With the help of such a planning strategy the management of the organization can effectively determine the number of the products that will be launched in the market in order to maintain the already generated curiosity among the public (Chambers 2014).. Strong vision The strong vision that has been promoted by the organization interprets the mission of the organization to produce such tools for the mind that advance humankind. One such example has been MacBook. Thus, the innovation of the products in order to facilitate multitasking is one of the important planning steps that results in incurring of increased revenue (Chambers 2014). Apple focuses on a limited number of products and strives to develop these handful numbers of products in order to acquire the top position in the market. The firm primary focuses on the component of customer excellence, product excellence and operational excellence, which helps the entity to maintain top position in, regards to the competitor firms like Microsoft and Sony. Furthermore, the organization has been able to maintain a brand name, which provides the business with required strength; the company also, offers a repository of innovative products that further strengthens its competitive position (Pisano 2015). The information that is significantly required for preparing a manufacturing or selling budget in case of the chosen company is the particulars that are required in the production of the offered products. A detailed overview into each of the products, manufactured by Apple will also help in ascertaining the cost of the implemented technology in the products which will result in the identification of the crucial costs. This will in turn aid the process of preparation of the budgets. Controlling The process of controlling can be effectively defined with the help of some of the strategies that has been undertaken by the company in regards to the products and other related production processes (Hennessy and Najjar 2017). Some of these strategies are as follows: The various processes that are utilized in the production of the Apple products are passed down through a number of organizational components and officials. For instance, a particular product like MacBook before getting launched into the market is authorized by a number of officials like the Senior Vice President for Mac Hardware Engineering and Vice President for Software Engineering. The management of the business operations have been further controlled by the establishment of proper quality standards within the organization. The senior executive in regards to operations in Apple coordinate with eight other senior Vice Presidents in order to make sure that the products adhere to the quality standards. Furthermore, this manufacturing company is known for quality standards that is not only restricted to the products but also product design, online and retail marketing and human resource management. Scheduling Apple Inc. undertakes the controlling decisions in regards to the management of the operations through a number of manual and automated processes. The automated processes are used for the purpose of regulating the business activities and other associated processes of production. Nevertheless, the manual processes that is utilized by the management of the corporate entity is restricted to the outlets or the Apple stores. The scheduling of the operations management is primarily carried out in order to maximize the utilization capacity of the technological equipments, human resources and facilities. Implementation of the Balanced Scorecard in Apple Inc A balanced scorecard refers to the management tool that is developed for measuring the performance of a firm (especially the non-financial performance) by the identification and the evaluation of the key performance indicators of the respective business. The singular motive behind the preparation of the balanced scorecard is that the judgment of the performance of a company based on financial metrics only does not provide the correct overview into the company. Thus, it is necessary to implement and utilize a balanced scorecard in a corporate organization. In case of Apple Inc. a balanced scorecard with the four perspectives of financial, customer, process and learning and growth can be implemented in order to evaluate the non-financial performance of the company (den Hartigh caes et al., 2016). The key performance indicators in case of the financial perspective might be the net revenue incurred by the firm and other significant ratios like liquidity ratio and gearing ratio. The key performance indicators in relation to the customers might be the percentage of customer satisfaction achieved, customer loyalty and feedback and number of new customers acquired per product. The perspective of process can be evaluated with the help of cost of the incurred process, necessity of the process, substitution of the adopted process and scope of improvement. Lastly, the derived outcome from all these perspectives can be included under learning and growth for this particular manufacturing company (den Hartigh caes et al., 2016). Decision-making The decision-making capability of this particular corporate entity can be evaluated by the following listed down situations: The particular strategy to utilize Microsoft as an ally instead of a competitor provides enough overview into the strategic planning of the management of this manufacturing company. Apple and Microsoft decided to ally each other so that the products like iMacs could utilize the Microsoft Windows software and in return, Microsoft had to invest $150 million in the new product of the company. Such a decision-making had been hugely beneficial for the company (Mardani 2015). Tim Cooks, the present CEO of the company has enabled the company to touch new horizons. The particular decisions that have been beneficial for the company are the shift from Apple to Apple 2. The three particular strategies that had brought further success are the decision to carry forward the innovation in the products, the expansion of the existing customer base and the continuous implementation of technological innovation in the products (Mardani 2015). Conclusion Thus, as it can be concluded from the discussion in the preceding paragraphs, Apple Inc. as a manufacturing company has been performing well. Moreover, the firm has been ruling the top position in the market majorly due to the customer and product excellence that it strives to maintain. The fact that Apple focuses on a handful number of products also enables the company to utilize the benefit of standardization of raw materials and thus achieve economies of scale. This will enable the corporate entity to reach greater heights. References Arthur, C., 2014. Digital wars: Apple, Google, Microsoft and the battle for the Internet. Kogan Page Publishers. Chambers, M., 2014. Reflections on Computers in Education 19842001: The Logo Continuum. In Reflections on the History of Computers in Education (pp. 365-372). Springer, Berlin, Heidelberg. den Hartigh, E., Ortt, J.R., van de Kaa, G. and Stolwijk, C.C., 2016. Platform control during battles for market dominance: The case of Apple versus IBM in the early personal computer industry. Technovation, 48, pp.4-12. Goetsch, D.L. and Davis, S.B., 2014. Quality management for organizational excellence. Upper Saddle River, NJ: pearson. Hennessy, J. and Najjar, A., 2017. Apple Computer, Inc.: Think Different, Think Online Music. Kellogg School of Management Cases, pp.1-24. Kuglin, C., Crosser, R.L. and Haynes, J.J., 2017. Apple, Inc., the UAE, and Joplin, Missouri: An Ethical Opportunity?. Journal of Critical Incidents, 10. Mardani, A., Jusoh, A., MD Nor, K., Khalifah, Z., Zakwan, N. and Valipour, A., 2015. Multiple criteria decision-making techniques and their applicationsa review of the literature from 2000 to 2014. Economic Research-Ekonomska IstraÃ… ¾ivanja, 28(1), pp.516-571. Pisano, G.P., 2015. You need an innovation strategy. Harvard Business Review, 93(6), pp.44-54. Ramesh, N. and Andrews, J., 2015. Personalized search engine using social networking activity. Indian Journal of Science and Technology, 8(4), p.301. Rawassizadeh, R., Price, B.A. and Petre, M., 2015. Wearables: Has the age of smartwatches finally arrived?. Communications of the ACM, 58(1), pp.45-47. Young, K., 2016. Teachers Attitudes to using iPads or Tablet Computers; Implications for Developing New Skills, Pedagogies and School-Provided Support. TechTrends, 60(2), pp.183-189. Zsambok, C.E. and Klein, G. eds., 2014. Naturalistic decision making. Psychology Press.

Wednesday, December 4, 2019

Tikbalang Mystery in the Philippines free essay sample

Not even advancement in technology could remove the people’s thought and curiosity about mystries and legends of folklore. Some researchers and so-called experts have come and gone. All of them believing that their findings are correct. We do not know yet who to believe. A Tikbalang is a half-man and a half-horse creature. It’s upper body resembles like that of a horse and from the neck down it has a shape of a man. It is said to be living in places like swamps, deep woods, forests and big trees such as the Balete. It is also said to be smoking tobacco on top or beside a tree like the mythical creature, Kapre.Tikbalangs are said to lead travelers to astray. They play tricks on travelers such as they will return to the arbitrary path regardless on where they go. Another trick that they can do is that they can mimic the appearance, voice and the mannerisms of those who are close to the person journeying. We will write a custom essay sample on Tikbalang Mystery in the Philippines or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The victim is tricked into following the Tikbalang until they get lost and sometimes never to be seen again. There are many superstitions related to Tikbalangs. They say that when it rains on a clear sky, two Tikbalangs are getting married.Another superstition they have is that the Tikbalang may fall in love with a mortal and when that happens, the person or girl whom the Tikbalang fell in love with, gets mentally disturbed. It is also believed that they only take a bath during full moon. The origin of the Tikbalang started during the Spanish Colonization. It is a fact that horses were brought to the Philippines by the Spaniards. The conquistadors propagated the myth about the Tikbalang to scare the natives from going out at night. When I was a kid my Driver, Lando told me some hair-raising stories that has a connection with a Tikbalang.When he was a kid, his dad always told him that don’t go out if its dark. He asked â€Å"why? † His dad replied there are monsters. Lando became curious because he didn’t believe in monsters. So he called his friends to play with him outside their house. They played basketball. Lando’s friend threw the ball near the trees. He said â€Å"I’ll get the ball. † He ran to get the ball. He unexpectedly smelled somebody smoking cigar. When He looked at the direction where the smell’s coming from he saw a man with a horse face holding the ball. He was so scared at the sight of the creature. He was shouting and running towards his friend.When He got home his dad asked him â€Å"where did you go? † He didn’t reply. He became so quiet. The next day he told everything what happened that night to his dad. His dad was startled. Since then the ball was never found and Lando listened to his dad. My sister’s college friends also told me some terrifying stories but this one is way creepier than the first. When her friend, Hazel was going to Bulacan for summer vacation with her boyfriend, they got lost. They were passing the same way again and again. Her boyfriend told her to wear her shirt inside out. She was shy because her boyfriend might see her naked but she has no choice.After both of them wore their shirts inside out they were able to get out of the â€Å"maze†. Her boyfriend told her it was a Tikbalang may be pranking them. This creature is still a mystery because even though our technology is already advanced, there are still people who believe in these mysteries. Many people have already claimed to see the Tikbalang however, without photographic evidence it’s still widely disclaimed. More research needs to be done so that we can see if this is real or if this is just a myth This has not been proven yet but I hope there will come a time that one day all of these will be solved.