Friday, November 29, 2019

A critical review of literature on the importance of social media in branding The WritePass Journal

A critical review of literature on the importance of social media in branding 1.0 Introduction A critical review of literature on the importance of social media in branding ). On the contrary it can be said that more and more retailers and business are becoming increasingly aware of the social media and are waiting to exploit the potential that social marketing offers (Olivas-lujan, 2013) 1.1 Background Spend on social media by the businesses are on the rise. Recent study by the IAB (Internet Advertising Bureau) shows that in the first half of 2014 in the UK alone, there has been a rise of 53% in the spend on social media by businesses with a total contribution of  £242.5 million (Somerville, 2014). Another study by IAB on FMGC sector consisting of more than 4500 survey responses and 800 interviews showed that 90% of the customers would use social media to refer the brands to peers, 4 in 5 customers would buy products that have good social media coverage and 83% would be willing to try products that are popular in social media (Anon, 2013). Similarly, a research conducted by Mass Relevance that provides social media curation platform to clients found that 59% of the consumers will more likely trust a brand that has presence in the social media and 64% of the consumers interviewed have already made purchases based on social media presence and reviews (Chaney, 2012). Appendix 1 shows the social media advertising effects on consumers (Source: Neilsen Survey: Anon, 2012) 1.2 Motivation From the above, it can be understood that social media has a profound impact on the consumers’ choice of brands and that it is key to engage effectively with customers. There is a lot of literature that discusses about the social media impact on consumers, why businesses should engage with customers, exploiting social media to provide value add etc. The main aim of this research is to look into various key researches in this area and to provide a critical review on the literature. The critical review aims to see if: The problems are identified clearly The literature provides a balanced view There are gaps in the literature 1.3 Research Process The success of the research is admittedly determined by measuring the extent to which each of the research objectives is met. The following steps are followed during this research to ensure its success. These steps are as follows: Firstly, a background into the research and its motivations is given. Following this, the key literature in this area is thoroughly investigated. This is intended to ensure that all aspects of the research are identified and that the challenges or gaps in the current literature are clearly understood. Next, the literature is critically analysed to see if the problems are identified and if it provides a balanced view of the topic. It also looks into the research methodology to see if the methods used are consistent with the qualitative and quantitative methods and also checks for what has not been provided. Finally, this research concludes by providing a conclusion that is supported by evidence presented in the literature. It also makes recommendations where appropriate. In summary, this chapter has provided a brief overview of the research, addressed the key challenges or gaps in the literature and justified the need to conduct this research. This chapter has also set the background and motivations for the research in order to enable the reader to better understand the subsequent chapters. The central question for the research has addressed here, and the reader now also understands the problem statements that have led to this research. 2.0 Literature Review This research discusses about social media and its effect on branding and consumers. But what is social media? The term social media can be defined as â€Å" Many online tools that allow people with similar interests to share information, learn from others, or network in an open process. The information found on these sites is commonly referred to as ‘user-generated content’, which means anyone is able to post with minimal restrictions or oversight.†(Wilson, 2010) Drury (2007) discusses how marketers of various businesses can effectively engage in social media marketing. The paper gives a fairly comprehensive view on what social media is and the role of marketing in social media. It discusses about how social media can be monetised by the marketers. The paper lists out opportunities that can be tapped for commercial benefits and also emphasises on the mobile marketing strategy and describes the success criteria for measuring success. The paper however has the following drawbacks: It is very much general and has no qualitative or quantitative measures to define the success criteria. It gives a good overall picture but it would have been better if the context of the paper was more towards assessing the impact or the Return on Investment (ROI) of a specific sector or business. It lacks specific examples and also does not mention any strategy for implementation or even list challenges that organisations face while implementing good strategies for social media marketing. Michaelidou et al (2011) in their research discuss about social media marketing’s impact on small and medium B2B brands. They discuss in detail the adaption of social media networking as a marketing platform to be able to achieve the brand objectives and also the perceptions around the barriers of using social marketing networks. The research paper makes use of email surveys to understand the usage of social media by small and medium scale businesses that operate in the UK and the main drivers that motivate SMEs to adapt to the new channel of marketing. It clearly states the motivation of the research, giving appropriate background to the research and the method used for the research is depicted concisely. The research analyses the findings from the email survey and discusses the methods used for analysis. It provides a broad range of information and also clearly identifies the shortcomings in the business implementation of social media networking practices. It discusses how t hese pitfalls can be overcome and provides details for further improvement areas and scope for additional research in the future. The drawbacks of the paper are: Sample size: The sample size of the survey could have been more and also various other methods for obtaining the review could have been used. This would have ensured that the B2B base was thoroughly covered. Focus: The focus is on B2B businesses alone. It would have been interesting to see the results if the research was extended to B2C as well for small and medium scale enterprises. Some researches focus specifically on skills gap in digital marketing within specific industries. One such research concentrates on the communications industry (Royle and Laing, 2014). The research discusses the need for having the necessary skills in digital marketing arena and stresses on the growth and popularity of digital/social media marketing. The research explores the various gaps in the industry for digital marketing with a specific emphasis to communications sector and provides a best practice guide for the industry. It details the challenges that organisations face while implementing social media marketing and discusses the need to have evaluation criteria and metrics to critically analyse the success of social marketing strategies and campaigns within organisations. The paper talks about the key challenges that businesses face while trying to merge traditional marketing practices with that of social marketing. The rationale for the research is clearly mentioned and the li terature review is comprehensive. The conceptual framework is clearly detailed and the methodology used for developing the framework is precise. The research makes use of focus groups and interviews to be able to gauge the skill gap in the industry. The drawbacks of this research are: Limited sample size: The research could have used more samples to be able to analyse effectively the findings. Given that the research has already narrowed down by industry, it would have been good to get a more detailed view of the industry and a larger sample would have facilitated this. A study by Harvard Business Review (Edelman, 2010) discusses how the internet and the social marketing has changed not only the way businesses operate but also how consumers choose their products. It takes the reader through the funnel metaphor which was earlier being used by marketers to understand how consumers choose their products and how this has moved to a more open-ended approach whereby consumers no longer follow a methodical approach of selecting products. It stresses how important it is for brands to be able to connect with the consumers and studied the consumers’ decisions across five different industries namely automobiles, skincare, insurance, mobile telecommunications and electronics in three different continents. Based on the results of the study, it proposed a four-stage model that focuses on today’s consumers using social media for advocating products and also purchasing based on the reviews and advocacy received. The research takes the reader through t he entire customer journey and tells the businesses what it should not focus its energy and resources on. Providing statistical information about various surveys enables the businesses to identify the key areas that it should concentrate on to be able to build a good brand image online. Though the research is comprehensive it lacks in the following: Framework: It does not suggest what needs to be done and a framework for implementing those. The key focus is on what not to be done and it leaves it to the businesses to work on the best strategy. Sample size and analysis: The research does not disclose the sample size or indicate clearly the analysis method used to come to the conclusion. This section worked on identifying key research in the literature and also provided a critical review of each of the researches identified. 3.0 Conclusion Though there is a lot of literature on various aspects including but not limited to effects of social media on small and medium scale enterprises, identification of skill gaps in social media with specific emphasis to certain industries, general study on implementation challenges, perception of social media on businesses, barriers to adaptation of social media by businesses etc. it can be found that there is not much literature that specifically talks about a common framework for adapting to social media marketing along with the challenges that businesses might face and the evaluation criteria. Similarly while most of these researches make use of one or more methods for data collection, it is not very comprehensive. There is a gap in the current literature in terms of data collected from a wide range of sources using a bigger sample set. Given that technology has enabled a higher reach to customers, it would be good to get a larger sample to be able to effectively analyse the results . In many cases, the limitations of the research scope could be worked on to be able to get more information on the above mentioned areas. In short, it can be said that the social media marketing and the research around it are yet to attain the maturity level and there is a lot of scope for research that would aid businesses to effectively handle and manage social media marketing concerns and overcome challenges in a seamless and stress-free manner. 4.0 References Tuten, 2008: Advertising 2.0: Social Media Marketing in a Web 2.0 world, Greenwood publishing group. Qualman, 2012: Socialnomics: How social media transforms the way we live and do business, John Wiley Sons Livas-Lujan, 2013: Social Media in Strategic Marketing, Emerald Group publishing limited Somerville, 2014: 18 Digital Marketing Trends you may not have heard about, The Fresh Egg blog accessed at: freshegg.co.uk/blog/18-digital-marketing-trends-for-2014 Anon, 2013: IAB Social Media Effectiveness Research, IAB UK accessed at: iabuk.net/research/library/iab-social-media-effectiveness-research Chaney, 2012: Brands should use social media to engage consumers, amplify messages and promote trust, Digital intelligence today accessed at: http://digitalintelligencetoday.com/brands-should-use-social-media-to-engage-consumers-amplify-messages-and-promote-trust-survey-says/ Anon, 2012: State of the Media, The social media report, Neilsen Wilson, 2010: Social Media and Small Business Marketing, University Business Printing and press, USA Drury, 2007: Opinion Piece: Social Media: Should marketers engage and how can it be done effectively?, Journal of Direct, Data and Digital Marketing Practice Michaelidou et al, 2011: Usage, Barriers and measurement of social media marketing: An exploratory investigation of small and medium B2B brands, Elsevier Royle and Liang, 2014: The digital marketing skills gap: Developing a digital marketer model for communication industries, Elsevier Edelman, 2010: Branding in the digital age: You’re spending your money in all the wrong places, Harvard Business Review

Monday, November 25, 2019

Saddam is Back essays

Saddam is Back essays Saddam Hussein is back with vengeance, and his threats of world destruction aren't to be taken lightly. The United States tried unsuccessfully to target him during the Gulf War in February 1991; however, they confidently expected the Iraq leader to be gone within months. Now, eleven years later Saddam has shown a remarkable ability to survive and to rebuild his military to almost its peak potential and the US are threatening to lead air strikes over weapons inspections. Iraq is able to produce chemical and biological weapons within weeks, a long-range missile within a year and a nuclear weapon in five years. It would also be enough time to make up 350 liters of Anthrax a week, enough for two missile warheads, or enough to kill hundreds of thousands of people. The United Nations Special Commission (UNSCOM) has verified and destroyed 817 missiles, 30 warheads, 75 launchers and launch pads, 38, 537 munitions and 690 tons of chemical-weapons agents. In an extraordinary decade, the woman known as "Dr Germ" has led the production of 10 billion killer doses of toxins, including botalinum, a vicious food poisoning bug that provokes a swollen tongue, frothing at the mouth and dizziness before a victims rapid death. Dr Germ has produced 10 billion killer doses of toxins... However, they believe that a further 2 missiles, 45 warheads, 31 658 munitions and 130 tons of chemical-weapons agents still exist. Dr Rihab Taha, aged 46 is at the center of the growing Iraq crisis, and is the person who persuaded Saddam to launch his controversial germ warfare program back in the 1980's. UNSCOM has also established that Iraq has produced 8400 liters of Anthrax - which dissolves the kidneys, liver and lungs leading to death within two days - and 2000 liters of Aflatoxin, which can lead to liver cancer. The UN is hoping to avert powerful US-led air strikes against Iraq by persuading Saddam to settle for changes in the way the...

Friday, November 22, 2019

Ethical Dimensions of Research Studies Term Paper

Ethical Dimensions of Research Studies - Term Paper Example This moral standard requires all researchers to conduct their activities in the course of their studies or methodical investigations in a manner that enhances the well-being of test subjects (Bulger et-al, 2012). In other words, the health, safety, and welfare of individuals involved in the study ought to be the most important aspect and consideration of the study. Results from the study elucidated the fact that exposure to this smoke had considerable health effects on the children involved as test subjects. All researchers have a duty to inform individuals involved in research as subjects on the dangers and threats posed by a particular research or study. Giving the subjects all information regarding the dangers is of significance as it helps them to make an informed decision. Before any research activities commence, it is important for the subjects to sign an informed consent form whereby they ascertain that they have made informed decisions without any intimidation of coercion on being subjects of a particular test or procedure. Signing a consent form safeguards the researcher from any legal action that could be taken against his/her by these subjects. Some research activities or studies have negative consequences and therefore individuals in charge of the research could be sued for damages. According to Fouka and Mantzorou (2011), â€Å"Informed consent seeks to incorporate the rights of autonomous individuals through self-determination. It also seeks to prevent assault on the integrity of the patient and protects personal liberty and veracity† (p. 4). In these children’s case, the researchers did not inform the subjects on the dangers and implications that could follow exposure of secondhand smoke to children. In doing so, they failed to provide them with appropriate information and facts that he could have used to make an informed decision on whether to become subjects of the study or

Wednesday, November 20, 2019

Distinguish Essay Example | Topics and Well Written Essays - 500 words

Distinguish - Essay Example There are various other ways in which performance appraisals and performance management is differentiated from each other. Performance appraisals are conducted once, every particular year and these are conducted on the request of HR department (Koontz 243). On the contrary, performance management is conducted on very frequent basis and is conducted on the request of supervisors and subordinates. Performance appraisal process for an organization is created by the HR department and then it is forwarded to the managers so managers can utilize them while evaluating performance. In case of creating performance management process, both the employees and their managers are involved. Feedback derived through performance appraisals take place only once a year when performance is appraised, while feedback from performance management takes places each time the managers and the supervisors conduct performance management and they hold discussions about performance targets and achievement of those targets. When performance appraisal is conducted for an employee, the appraiser has a duty to reach an agreement with the appraised employee about how well he has performed and in what areas he needs training and development. In case of performance management, the appraiser has to understand the criteria of performance and has to explain employees about how their behaviors are matched to the criteria. In performance management the supervisors and subordinates identify expectations and how these expectations will help achieve organizational goals and objectives. In performance appraisal, the appraisee has to either accept or reject the performance appraisal conducted by managers and have to accept the sectors where improvement is required. In performance management, the appraisee has to understand the fit between expectations and organizations goals and objectives. A comparison of performance

Monday, November 18, 2019

The Interests of the Educated Individual, the Employer, and the Assignment

The Interests of the Educated Individual, the Employer, and the Economy - Assignment Example In terms of the volume of employment, education and health are the two prime sectors in Australia. The Australian government spends a huge amount of its national income every year for supporting and promoting the educational institutions of the country. In the line of public policy, education is always given priority because in one hand development of education system plays a modern role for sophisticating the society while on the other hand an improved educational system is expected to absorb the unemployment by providing educated, thoughtful, intellectual and innovative human resources. For example, the mean of ‘Smart State’ vision of the government of Queensland was to develop technology-based industries and build up the skillful and flexible working people. In this policy, the Queensland government for the growth and development of the state in future has promoted innovative ideas in the field of scientific research and information and communication technologies. (Le nore Adie, 2008, pp 252-255). Besides the government of Queensland on the issues of social justice, has developed the reform strategy QSE 2010. This strategy was developed responding ‘the major challenges for education posed by the global knowledge economy in ‘new times’, characterized in particular by the global information networked society and increased inequalities and new forms of exclusion’. (Taylor and Singh, 2005, p 727). However, though the demand for education has risen tremendously in the recent past in Australia, the allocation of resources to education relative to the country’s GDP has not risen accordingly. In Australia, there have been seen changing and volatile policies towards the education. People in Australia are very much aware of what a good and proper educational system should be and regarding this, there are common as well as conflict views among the residents of Australia.  

Saturday, November 16, 2019

Young Mania Rating Scale

Young Mania Rating Scale The Young Mania Rating Scale (Young et al. 1978) is comprised of 11 items and used to rate symptoms of mania. Seven items have a score range of 0 to 4 while four items have scores ranging from 0 to 8. The total score ranges from 0 to 56 with lower scores representing fewer symptom and higher scores representing more symptoms. Scores are based on clinician-assessment and self-report by the patient. Young et al. (1978) reported a correlation between raters of 0.93 in 20 subjects based on YMRS. An acceptable internal consistency (ÃŽ ± = .80) was demonstrated by Fristad et al. (1995) in 30 participants evaluated on YMRS whereas Youngstrom et al. (2002) reported a high internal consistency (ÃŽ ± = .91). Gracious et al. (2002) evaluated a parent version of the YMRS in which the custodial parent also completed the rating scale and found an acceptable internal consistency (ÃŽ ± = .75). The Young Mania Rating Scale also differentiates bipolar disorder from attention deficit hyperactivity diso rder (Fristad et al. 1992) YMRS is not ideal to evaluate mixed episode bipolar disorder as depressed mood is not assessed by this scale. Also, YMRS is partly subjective and it is difficult to obtain a reliable assessment at a time when the thoughts are disordered. Another drawback of this scale is that four items have double rating in it. These four items are irritability, speech (rate and amount), thought content and disruptive-aggressive behaviour. Double rating could affect the reliability of the outcome assessment. Psychiatric Rating Scale (BPRS) The Brief Psychiatric Rating Scale (Lachar et al. 2001) constitutes 18 items and evaluates mood symptoms, positive symptoms of schizophrenia and general psychopathology symptoms. It involves assessment by a clinician and patient self-report. For each item, score can range from 1 to 7 (severe). Hughes et al. (2001) developed a revised anchored version of the Brief Psychiatric Rating Scale for Children (BPRS-C) which evaluates 21 symptoms. They reported a better inter-rater reliability and good internal consistency (ÃŽ ± = .83). The BPRS does not evaluate negative symptoms and a separate tool has to be used to measure the same. Childrens Depression Rating Scale (CDRS) The Childrens Depression Rating Scale (Poznanski et al. 1979, 1983) is comprised of 16 items. It evaluates the severity of depression in children and involves a semi-structured interview with the patient. A score of 30 and above on the CDRS implies significant depression whereas a score of 20 to 29 is considered borderline. Poznanski et al. (1979) evaluated 30 inpatient children based on CDRS and reported good inter-rater reliability. Childrens Global Assessment Scale (CGAS) The Childrens Global Assessment Scale (Shaffer et al. 1983) evaluates the general level of functioning in children. This scale is adapted from the Global Assessment Scale (Endicott et al. 1976). The scores on CGAS range from 1 (impaired) to 100 (healthy). Scores above 80 suggest a good level of functioning whereas a score below 10 indicate that the patient needs constant supervision. The authors report that the scale has an inter-rater reliability of 0.95 and a test-retest reliability of 0.85. Child Mania Rating Scale Parent Version (CMRS-P) The Children Mania Rating Scale Parent Version (Pavuluri et al. 2006) is a 21-item rating tool. Scores on each item can range from 0 (never/rarely) to 3 (very often). Higher score on the CMRS-P represents a worse condition. Information is gathered from the parents to screen their children for bipolar disorder. This rating scale also helps in differentiating bipolar disorder from attention deficit hyperactivity disorder. The authors reported an internal consistency and test-retest reliability of 0.96 for this scale. Hamilton Anxiety Rating Scale (HAM-A) The Hamilton Anxiety Rating Scale (Hamilton. 1959) is a 14-item scale which measures the severity of anxiety. Scores on each item can range from 0 (not present) to 4 (very severe). Total scores on this scale can range from 0 to 56. A score of below 17 is considered as mild anxiety whereas a score of 25 to 30 and above is considered as moderate to severe anxiety. An inter-rater reliability of 0.89 is reported by the author. Kutcher Adolescent Depression Scale (KADS) The Kutcher Adolescent Depression Scale (Brooks et al. 2003) consists of 16 items. It assesses the severity of depression in adolescents and involves patient self-report. Each item on the KADS is scored on a scale of 0 (hardly ever) to 4 (all of the time). Higher scores on the KADS represent worsening of depressive symptomatology. An eleven-item KADS scale and a six-item KADS scale have also been described by the authors. The internal consistency of 16-item, 11-item and 6-item KADS were reported to be 0.82, 0.84 and 0.80 respectively. Nisonger Child Behavior Rating Form (NCBRF) The Nisonger Child Behavior Rating Form (Tasse et al. 1996) evaluates behavioural problems in children and adolescents. The NCBRF constitutes a social competence section and a problem behaviours section. The social competence section of the NCBRF consists of 10 items with scores ranging from 0 (not true) to 3 (always true). Higher score represent better behaviour in the social competence section. Problem behaviour section is comprised of 60 items with scores ranging from 0 (did not occur) to 3 (occurred a lot). Higher scores in the problem behaviour section of the NCBRF represent greater behavioural disturbances. Positive and Negative Syndrome Scale (PANSS) The Positive and Negative Syndrome Scale (Kay et al. 1989) is a 30-item scale which evaluates positive symptoms, negative symptoms and general psychopathology in patients with schizophrenia. Each item has a score ranging from 1 (absent) to 7 (extreme) with higher score representing worse functioning. The authors reported good inter-rater reliability and internal consistency for this scale.

Wednesday, November 13, 2019

Animal Farm, by George Orwell :: Animal Farm Essays

â€Å"All animals are equal, but some are more equal than others.† This simple quote from Animal Farm, which at first seems merely humorous, can provide valuable insight into the values and ideas expressed in the novel. George Orwell uses various language forms and features to convey the ideas that are evident in Animal Farm. Such features include allegory, fable, satire, imagery and characterization. They are used to provide understanding of the purpose of the composition and in doing so convey ideas such as greed, propaganda, utopia, work ethic, betrayal and warnings.   Ã‚  Ã‚  Ã‚  Ã‚  The form of allegory in Animal Farm is used to convey the composer’s ideas. Animal Farm is a composition which includes a deeper level of meaning beneath the superficial children’s story. One particular perception of the audience is that it is a subtle warning that power can corrupt any government. This can be seen through the character Napoleon and several of his porcine counterparts. As the novel develops, the pigs gradually obtain more power, which they use to take advantage of the less intelligent animals on the farm. This supports the idea that Orwell is possibly warning the audience that no matter what the original intentions are, power can corrupt anyone. Orwell uses a deeper level of meaning to act as a vehicle to convey his idea in the form of a warning.   Ã‚  Ã‚  Ã‚  Ã‚  Animal Farm is a fable which is used to teach a lesson in morality. One such lesson can be that greed reveals the worst in everyone. In the novel, the pigs were driven by their own personal interests and ambition until they became just as bad as their enemies (and even friends with them). The earliest example of greed is when the pigs steal the apples and milk for themselves under the false pretence of it being for the benefit of the farm. Later on, they become even bolder when Napoleon declares that what was to become the retirement paddock was to be sown with barley. This evidence is directly linked to the idea that greed produces the worst in everyone. Therefore Orwell’s ideas on greed are conveyed through the form of a fable.   Ã‚  Ã‚  Ã‚  Ã‚  Satire is also used in Animal Farm to help achieve the writer’s purpose. Animal Farm is a satirical view of Russian politics in the early to mid twentieth-century. This can be deduced from several key factors. The composer parallels the characters in Animal Farm to key Russian leaders by mimicking their personalities to their human equivalents.

Monday, November 11, 2019

Marketing Plan for Shiseido Essay

One hundred and forty years ago, Arinobu Fukuhara built on his experience working as chief pharmacist at a navy hospital to establish Shiseido, Japan’s first Western-style pharmacy in the Ginza district of Tokyo. Concerned about the inferior medications then available to the public, he aspired to separate medical care and pharmaceutical dispensing in Japan. Shiseido’s first president, Shinzo Fukuhara, led Shiseido into the cosmetics business in 1897. The only cosmetics sold in Japan at that time, powder and lipstick, were simply for altering appearance. Dissatisfied with the status quo, Shiseido brought a fresh perspective to cosmetics (n.d.). They formulated their products like pharmaceuticals because they strongly believed that the true value of cosmetics was in achieving healthy, beautiful skin. Based on this belief, Shiseido has developed with an unwavering philosophical commitment to high quality, innovation and authentic value. Millions of people have come to know and trust the Shiseido name as a result. The origin of the company name â€Å"Shiseido† is a passage from the Chinese classic, I Ching (The Book of Changes): â€Å"praise the virtues of the great Earth, which nurtures new life and brings forth new values.† Shiseido puts the intent of this passage into practice by discovering and creating new value. This is our founding spirit, and it continues unbroken as Our Mission, Shiseido’s raison d’à ªtre (Annual report 2012). Having started out as a pharmacy, it wasn’t until 1915 that Shiseido changed direction and committed to the cosmetics industry. The move was masterminded by Shinzo Fukuhara, the third son of Arinobu Fukuhara and the company’s first president. †¨ An experienced photographer, Shinzo Fukuhara combined artistry with high quality manufacturing, underpinned by the very latest in research and development, to establish Shiseido as a unique presence in the cosmetics industry (n.d.). The beginnings of Shiseido’s corporate philosophy As part of the transition from a family business to a more corporate setup, in 1921 Shiseido set out â€Å"Shiseido’s Five Principles† as the foundation of its corporate philosophy and activities as a company. These went on to form the basis of Shiseido’s Corporate Philosophy in 1989. Having undergone a number of changes since then, this finally evolved into, a new corporate philosophy reflecting the Shiseido Groupâ₠¬â„¢s international operations and diverse brand portfolio, in 2011. Establishing a global production network With production facilities already up and running in areas such as North America and Taiwan, as well as in Japan, in 1991 Shiseido opened its first production facility in Europe, thereby establishing a truly global production network. Operations later got underway at a factory in Beijing in 1993 as Shiseido made its first steps towards expanding operations in the Chinese market. In 2010, the company commenced operations at a factory in Vietnam, as part of a concerted effort to tap into new growth in the so-called â€Å"masstige† market (n.d.). Reviewing a description of the market including the economic system to be targeted in this marketing plan, it has been found that Thai woman are interested in new products to whiten their intimate areas. Fair skin is a symbol of opportunity, success and status. There are already skin-whitening pills and diet supplements claiming to pick up where the cosmetics leave off. But this is the first time that a vaginal whitening wash has hit the Thai market (Hodal, 2012). Asian skin ages different than others, instead of Asians being concerned with fine lines and wrinkles, Asians worry about dark spots. Using pale Korean and Japanese pop stars as illustrations, Thai women’s magazines are full of fair-skinned Asians promoting products that promise to whiten, lighten and â€Å"boost† the complexion, with slogans such as â€Å"Show off your aura† and â€Å"Get to know the miracle of white skin†. Fair-skinned actors and singers dominate the media nearly all over the A sia-Pacific region, where the skin-lightening industry is expected to reach $2bn this year with the fastest growing markets in China and India (Hodal, 2012). Shiseido has been at the forefront of skin-brightening research since launching the lotion Hydrogen Peroxide Cucumber in 1917 (Annual report 2012). They have developed about one-third of the active skin-brightening ingredients used in Japanese cosmetics. Shiseido is concentrating on aging research so that people can grow older beautifully. There are three key aspects in conducting research: functionality that creates healthy, beautiful skin; sensitivity and sensations such as pleasant usability, scent, color and beauty methods; and most important, safety that allows consumers to use their products worry free. In Thailand, Shiseido needs to grow existing products and embrace its brand value. They need to use the foundation they have built to generate solid growth in Thailand. Shiseido will continue to shift through fundamental reforms in order to invest for growth, and will implement fresh initiatives. According to their website, Shiseido has always embraced innovation, progress and challenge. The only way that Shiseido can evolve is by integrating its growing strengths to continuously create new and richer value in new markets. They should see the Asian culture as a future growth driver, and should therefore put their focus on commercials and in-store visuals to build the reputation of the Shiseido brand. They should also consider focusing on local customer needs, promote seasonal cosmetic changes and realize their customers purchasing behavior. People use the Internet to acquire information by themselves and comparison shop beyond category boundaries (Annual report 2012). Shiseido needs to recognize and accommodate to these major changes in the market by taking on the challenge of a new business model that could increases regular users of products by bringing together their existing store-based sales with business and direct marketing using the Internet. I want Shiseido to build direct relationships with customers and use them to steadily deliver the value they generate. I would also like to see Shiseido grow from the cosmetics business by providing total beauty solutions. The key to success for Shiseido lies in offering a suite of products targeted at a wide range of customers, but with special emphasis on the growing luxury and natural sector. There are several reasons behind the growth in high-end cosmetics: the expansion of new markets in Russia and Asia; changing social norms that make the wearing of makeup more acceptable; celebrity worship; promotion within fashion magazines; improvements in the technology that creates makeup; the influence of mass retailers that can offer lower prices, and raising affluence. As makeup becomes less expensive, better and more accessible, more women have moved away from older brands of makeup and skincare in search of higher-quality new products and more exclusivity. Works Cited (n.d.). Retrieved from http://group.shiseido.com/company/info/index.htmlThere are no sources in the current document. Annual report 2012. (n.d.). Retrieved from http://group.shiseido.com/ir/library/annual/pdf/2012/anu00001.pdf Hodal, K. (2012, 11 23). Thailand’s skin-whitening craze reaches woman’s intimate areas. Retrieved from http://www.guardian.co.uk/world/2012/sep/23/thailand-vaginal-whitening-wash

Saturday, November 9, 2019

Bhopal Gas Tragedy and Its Ethical Issues Essay

SUMMARY Bhopal Gas Tragedy was a gas leak incident in India, considered one of the world’s worst industrial catastrophes. It occurred on the night of the last year of 1984 at the Bhopal Union Carbide Corporation (Union Carbide India Limited – UCIL) pesticide plant in Bhopal, Madhya Pradesh, India. A leak of methyl isocyanides gas and other chemicals from the plant resulted in the exposure of hundreds of thousands of people. It also causes environmental issues such as pollution of soil and water. The gas leak in India was caused by bad maintenance and failure of several safety systems to cut off the expenses. HISTORY Bhopal is a city in central India with population of 800,000 people in 1984. At that time, home to the largest mosque in India, Bhopal was a major railway junction. Its main industries consisted of manufacturing heavy electrical equipment, weaving and printing cotton cloth, and milling flour. In 1969, American Union Carbide Corporation, a company headquartered in Danbury, Connecticut, reached an agreement with the Indian government for the construction of a Union Carbide plant in Bhopal. Union Carbide would hold a 51 percent interest in the plant through its share of ownership of an Indian subsidiary of American Union Carbide. The agreement was seen as a win–win situation. India would have the plant and its jobs as well as the production of produce pesticides, a product needed badly by Indian farmers in order to increase agricultural productivity. In addition, Union Carbide also agreed that it would use local managers, who would be provided with the necessary skills and management training so that the plant would be truly locally operated. The plant used methyl isocyanides (MIC) gas as part of the production process for the pesticides. MIC is highly toxic and reacts strongly with other agents, including water. Operation of a plant with MIC processes requires detailed monitoring as well as security processes to prevent sabotage. While the plant began operations with high hopes, by 1980 the relationships were strained because the plant was not profitable. Union Carbide had asked the Indian government for permission to close the plant but the government felt the products from the plant as well as the jobs were needed for the Indian economy. Sometime in the early morning hours of December 3, 1984, MIC stored in a tank at the Bhopal plant came in contact with water, and the result was a boiling effect in the tank. The back-up safety systems at the plant, including cooling components for the tanks, did not work. The result was the toxic mixture began to leak and workers at the plant felt a burning sensation in their eyes. The boiling of the water and MIC caused the safety valves on the tank to explode. Following the explosion, the white smoke from the lethal mixture escaped through a smoke stack and began to spread across the area to the city of Bhopal. As the gas spread, it wove its way through the shanty towns that were located near the plant. The occupants of these shanty towns were Bhopal’s poorest. As the gas floated through these makeshift neighborhoods, 3,500 lives were lost and 200,000 were injured. The injuries included blindness, burns, and lesions in the respiratory system. The initial deaths and injuries were followed by long-term health effects. Of the women who were pregnant and exposed to the MIC, one-fourth either miscarried or had babies with birth defects. Children developed chronic respiratory problems. Smaller children who survived the toxic gas were sick for months and, weak from a lack of nutrition and ongoing illnesses, also died. MIC also produced strange boils on the bodies of many residents, boils that could not be healed. The problem of tuberculosis in the area was exacerbated by the lung injuries caused by the leaking MIC. In the year following the accident, the Indian government spent $40 million on food and health care for the Bhopal victims. Warren M. Anderson, Union Carbide’s chairman of the board at the time of the accident, pledged that he would devote the remainder of his career to solving the problems that resulted from the accident. However, by the end of the first year, Mr. Anderson told Business Week, â€Å"I overreacted. Maybe they, early on, thought we’d give the store away. [Now] we’re in litigation mode. I’m not going to roll over and play dead.† Following the accident, Union Carbide’s stock fell 16 points and it became, in the go-go 80s, a takeover target. When GAF Corporation made an offer, Union Carbide incurred $3.3 billion in debt in order to buy 56 percent of its own stock to avert a takeover. Through 1992, Union Carbide remained in a defensive mode as it coped with litigation, takeover attempts, and the actions of the Indian government in seeking to charge officers, including Anderson, with crimes. U.S. lawyers brought suit in the United States against Union Carbide on behalf of hundreds of Bhopal victims, but the case was dismissed because the court lacked jurisdiction over the victims as well as the plant. Union Carbide did settle the case with the Indian government for a payment of $470 million. There were 592,635 claims filed by Bhopal victims. The victims received, on average, about $1,000 each. The ordinary payment from the Indian government, as when a government bus harms an individual, is $130 to $700, depending upon the level of the injury. Individual awards were based on earning capacity, so, for example, widows of the Bhopal accident received $7,000. The Indian government also pursued criminal charges, including against Mr. Anderson. Lawyers for the company and Mr. Anderson continued to fight the charges, largely on the basis that the court had no jurisdiction over Mr. Anderson. However, to be on the safe side, Mr. Anderson did not return to India because of his fear of an arrest. In May 1992, the Indian government seized the plant and its assets and announced the sale of its 50 percent interest in the plant. When the sale occurred and Union Carbide received its share of the proceeds, it contributed $17 million to the Indian government for purposes of constructing a hospital near Bhopal. The plant now makes dry-cell batteries. Following the accident, Union Carbide reduced its workforce by 90 percent. Because of the share purchase, Union Carbide had a debt-to-equity ratio of 80 percent. In addition, the Union Carbide brand was affected by the accident and the company could not seem to gain traction. Dow Chemical would acquire the company in 1999 for $11.6 billion. In 2008, a study revealed that pesticide residues in the water supply for the area surrounding the plant were at levels above permissible ones. There are about 425 tons of wastes buried near the former plant. Advocates continue to appear at Dow shareholder meetings in order to demand clean-up. Dow’s response is, â€Å"As there was never any ownership, there are no responsibility and no liability—for the Bhopal tragedy or its aftermath.† ETHICAL ISSUES In Bhopal Union Carbide Corporation, a one of subsidiaries of Union Carbide Corporation has so many failures in working condition issues such as bad maintenance of the machinery, lack of safety and environmental standard to save money, and also had not concern of the natural environment. Sadly the case was dismissed because the court lacked jurisdiction over the victims as well as the plant. The insufficiency of scientific knowledge is inseparable from the inadequacy of justice. In 1999, Dow Chemical acquired Bhopal Union Carbide Corporation and as publicly owned corporation, the company is unable to accept any responsibility for the Bhopal catastrophe due to share price. Then the government of India sold the company’s assets to construct hospitals near Bhopal to take care the victims. There is dilemmatic problem for Bhopal Union Carbide Corporation, since they knew that the business was not profitable but the Government asked it to run  to support Indian farmers’ productivity and also Indian Economy through the plant. Because of that dilemma, The Bhopal Union Carbide Corporation disregard the Environmental Responsibility to save the money by ignored the work condition issues and keep the business run. KEY PARTIES TO UNETHICAL ISSUES There are four key parties occurred to Bhopal Gas Tragedy. There are: 1.Environments. The ring one which impacted by the tragedy is environment around the pesticide plant. The ring one consists of: (1) civilizations around the pesticide plant – Shanty Towns, and (2) Ecosystems – such as trees, water, and soil. 2.Government of India. The one who is control the environmental issues for industries and business. Government of India responsible to makes the policies to compromise between business and environment safety. 3.Bhopal Union Carbide Corporation (UCIL). The one of subsidiaries of Union Carbide Corporation, who had a business of pesticide plant in India – Bhopal with Indian Management, was responsible because of unfriendly environmental business or we could say that they are not pay attention to Corporate Social Responsibility (CSR). 4.Union Carbide Corporation. (UCC) The Parent Corporation of Bhopal Union Carbide Corporation. The chairman is the one who is most responsible of the Bhopal Gas Catastrophe. The chairman name is Anderson, he arranged with the government of India to build the pesticide plant. CONTRIBUTING FACTORS TO UNETHICAL ISSUES Attempts to reduce expenses affected the Bhopal Union Carbide Corporation’s (UCIL) employees and their conditions, they did several things below: 1.Less stringent quality control and thus looser safety rules; 2.Less training in controlled the factory. It means the employee didn’t exactly know what to do and what not to do; 3.Promotions were halted. It seriously affecting the employee morale and driving the skilled employee finding another job/factory. 4.Workers were forced to use English Manuals Book, while only a few of the employee had a grasp of the language. Because of that situation, UCIL affecting several situations such as: 1.The MIC tank alarms had not worked for four years.   2.There was only one manual back-up system, compared to a four-stage system used in the United States. 3.The flare tower and several vent gas scrubbers had been out of service for five months before the disaster. Only one gas scrubber was operating: it could not treat such a large amount of MIC with sodium hydroxide (caustic soda), which would have brought the concentration down to a safe level. The flare tower could only handle a quarter of the gas that leaked in 1984, and moreover it was out of order at the time of the incident. 4.To reduce energy costs, the refrigeration system was idle. The MIC was kept at 20 degrees Celsius, not the 4.5 degrees advised by the manual. 5.The steam boiler, intended to clean the pipes, was out of action for unknown reasons. 6.Slip-blind plates that would have prevented water from pipes being cleaned from leaking into the MIC tanks through faulty valves were not installed. Their installation had been omitted from the cleaning checklist. 7.The water pressure was too weak to spray the escaping gases from the stack. They could not spray high enough to reduce the concentration of escaping gas. 8.According to the operators, the MIC tank pressure gauge had been malfunctioning for roughly a week. Other tanks were used, rather than repairing the gauge. The build-up in temperature and pressure is believed to have affected the magnitude of the gas release. UCC investigation studies have disputed this hypothesis. 9.Carbon steel valves were used at the factory, even though they corrode when exposed to acid. 10.UCC admitted in their own investigation report that most of the safety systems were not functioning on the night of December 3, 1984. 11.The design of the MIC plant, following government guidelines, was â€Å"Indianized† by UCIL engineers to maximize the use of indigenous materials and products. Mumbai-based Humphreys and Glasgow Consultants PVT. Ltd. were the main  consultants, Larsen & Toubro fabricated the MIC storage tanks, and Taylor of India Ltd. provided the instrumentation. Besides that, there were also serious communication problems and management gaps between Union Carbide Corporation and its Indian operation. OPTIONS TO FINISH THE UNETHICAL ISSUES Anderson at the very start should have a feasibility study and environmental study for build up Bhopal Union Carbide Corporation, pesticide plant in India, to calculate the requirement of the plants related to India’s demand of pesticide and environment safety. If the plant is already built and it’s not profitable, Anderson should have closed the plant. But because of the Government demand to support the Indian Economy, Anderson should have to negotiate the government of India to take the plant as India’s state-owned company. So basically, all of the operational requirement will be the problems of India’s Government. Since Bhopal Gas Tragedy was already happened in India, there are few options to take the unethical issues done: 1.Union Carbide Corporations’ Chairman, Anderson, have to solve all of the problems causes by Bhopal Carbide Corporation’s Operation mistakes. It may take a lot of money to gather consultant and built infrastructure to help the victims such as Rehabilitation Center, Hospital, and also the compensation since the disaster begins would shut down the economics around the plant. 2.Anderson can also ask the India’s Government to contribute in solving all of the problems causes by Bhopal Carbide Corporation’s Operation mistakes since the Government of India was asked of helps to support Indian Economy and didn’t have regulation for Safety of Industrial policies. 3.Anderson use Point 2 plus ask the international media to regain his name due to the bad Indian management which â€Å"Indianized† U.S. Industrial safety  to environment. FREQUENTLY ASKED QUESTIONS 1.Should the Bhopal plant have been operated using U.S. safety and environmental standards? As a company operating outside the country, American Union Carbide Corporation should apply a U.S. safety and environmental standards because country where they operate (India) has not implemented a safety and environmental standard. The company should apply with the more strictly standard. In 1973, the Indian parliament had passed the Foreign Exchange Regulation Act (FERA), which aimed to increase state control over foreign business ventures. The act reduced the amount of equity that a foreign corporation could provide to any given project, in order to dilute foreign ownership of Indian-based firms. The bill also strongly encouraged the transfer of proprietary production technology to Indian firms, rather than just the formulation and sale of products, so that it could lay the groundwork for eventually nationalizing such technologies. In the case of the Bhopal plant however, UCC wanted to retain control of both the project and the technologies they had invented. While FERA did not allow foreign corporations to be the majority stakeholder in a project, an exception was made for UCC on the grounds that it was bringing in â€Å"special technology.† In order to retain their 50.9 percent stake in the undertaking, UCC cut the cost of construction from $28 million to $20 million dollars, primarily by using substandard technology and cheaper materials. Although UCC claims that its plant in Bhopal was built to the same safety specifications as its American facilities, when it was finally constructed there were at least eleven significant differences in safety and maintenance policies between the Bhopal factory and its sister facility in Institute, West Virginia. For example, the West Virginia plant had an emergency plan,  computer monitoring, and used inert chloroform for cooling their MIC tanks. Bhopal had no emergency plan, no computer monitoring, and used brine, a substance that may dangerously react with MIC, for its cooling system. The Union Carbide Karamchari Sangh (Workers’ Union), a union of Bhopal workers that formed in the early 1980s, recognized the dangers at the factory but their agitation for safer conditions produced no changes. 2.What would the U.S. policy be on the shanty towns? 3.Should the case have been moved to the United States for recover? Since Anderson is American, and the 51% shares of UCIL was owned by UCC in U.S. (categorized as Foreign Direct Investment), it should have been an U.S. – India issues to recover. With U.S. recovery helps, it will create a good relationship between U.S. and India. And probably the industry owned by U.S. citizen will trusted more by Indian. 4.List all of the costs of the accident to Union Carbide. It is estimated 100,000 to 200,000 people have permanent injuries. Reported symptoms are eye problems, respiratory difficulties, immune and neurological disorders, cardiac failure secondary to lung injury, female reproductive difficulties and birth defects among children born to affected women. The Indian Government and UCC deny permanent injuries were caused by MIC or the other gases. The gas cloud was composed mainly of materials denser than the surrounding air, stayed close to the ground and spread outwards through the surrounding community. The initial effects of exposure were coughing, vomiting, severe eye irritation and a feeling of suffocation. People awakened by these symptoms fled away from the plant. Those who ran inhaled more than those who had a vehicle to ride. Owing to their height, children and other people of shorter stature inhaled higher concentrations. Many people were trampled trying to escape. A total of 36 wards were marked by the authorities as being â€Å"gas affected†, affecting a population of 520,000. Of these, 200,000 were below 15 years of age, and 3,000 were pregnant women. In 1991, 3,928 deaths had been certified. Independent organizations recorded 8,000 dead in the first days. Other estimations vary between 10,000 and 30,000. Another 100,000 to 200,000 people are estimated to have permanent injuries of different degrees.

Wednesday, November 6, 2019

Free Essays on How African American Were Treated

How Blacks were treated in the North & South in the 1940’s The blacks were treated poorly in the south they were falsely accused of things they hardly ever did. In the north they were treated better; They were given better medical care and were allowed to have churches, but they where still poorly treated. In the 1940’s blacks were not considered equal to whites in the North or the South. They had to enter through the back door’s of establishments & they could not go into the same store as whites. Blacks had to say â€Å"yes sir† & â€Å"no sir†. Blacks also had to do what a white man had asked /demanded him to do. All Blacks were treated the same as other blacks they had their own school, church and stores. White people who owned a store didn’t have to let them into the store or sell them food. White people thought that they were at the top of the â€Å"race list† when really they had the stupid the idea that the blacks treated their own race and other races better than whites did. Some whites thought that just because you were nice to black people they were worse than a black person themselves. Also if a white girl even one who never had company had even tried to have anything to do with a black man then they where below pond scum. The black children where teased and mocked, and if they where a mixed child then they where pitied and at the same time they where criticized and picked on by both races. Blacks had no hope in the town where they lived. No hope of getting a good education, which meant a bad job that meant they had a worse life for their kids and family. In 1948 Harry Truman passed a law â€Å"that provided for equality of treatment and opportunity in the armed forces without regard to race, color, religion, or national origin." This was suppose to keep segregation out of the military. But after World War 1 some southerners thought that the blacks needed beat down even thought they wore the same un... Free Essays on How African American Were Treated Free Essays on How African American Were Treated How Blacks were treated in the North & South in the 1940’s The blacks were treated poorly in the south they were falsely accused of things they hardly ever did. In the north they were treated better; They were given better medical care and were allowed to have churches, but they where still poorly treated. In the 1940’s blacks were not considered equal to whites in the North or the South. They had to enter through the back door’s of establishments & they could not go into the same store as whites. Blacks had to say â€Å"yes sir† & â€Å"no sir†. Blacks also had to do what a white man had asked /demanded him to do. All Blacks were treated the same as other blacks they had their own school, church and stores. White people who owned a store didn’t have to let them into the store or sell them food. White people thought that they were at the top of the â€Å"race list† when really they had the stupid the idea that the blacks treated their own race and other races better than whites did. Some whites thought that just because you were nice to black people they were worse than a black person themselves. Also if a white girl even one who never had company had even tried to have anything to do with a black man then they where below pond scum. The black children where teased and mocked, and if they where a mixed child then they where pitied and at the same time they where criticized and picked on by both races. Blacks had no hope in the town where they lived. No hope of getting a good education, which meant a bad job that meant they had a worse life for their kids and family. In 1948 Harry Truman passed a law â€Å"that provided for equality of treatment and opportunity in the armed forces without regard to race, color, religion, or national origin." This was suppose to keep segregation out of the military. But after World War 1 some southerners thought that the blacks needed beat down even thought they wore the same un...

Monday, November 4, 2019

Causes Of World War II And Holocaust Essay Example | Topics and Well Written Essays - 1000 words

Causes Of World War II And Holocaust - Essay Example The paper talks about how the quote mentioned in the thesis statement relates to the events of WW II. There were many causes of WW II which fall under the broad categories of the Treaty of Versailles, the after-effects of WW I, the Great Depression, Europe’s deep resentment after WW I, failure of the League of Nations and numerous other political and nationalistic forces. Two particular events that acted as catalysts were the invasion of Poland by Germany and Russia and the invasion of China by Japan. The drivers behind these decisions were Hitler and the Nazis from the German side and Kwantung Army in Japan. The Treaty of Versailles was putting extreme pressure on Germany to accept blame for WW I and to pay the damages caused by the war. German land was taken away and many restrictions were put on it. Around this time Hitler was coming to power. Once in power, he built a secret army for Germany and provided it weapons. Hitler also created alliances with Japan and Italy who we re aggressors in WW II. Hitler’s approach was also aggressive and kept breaking pacts made with other leaders and taking violent actions by invading countries he had expressly stated he wouldn’t and thus was a source of constant instigation. In the 1920s, the Great Depression hit and the conditions of the people worsened. Trade levels plunged, along with prices and business incomes while unemployment and despair shot up almost simultaneously. In the face of the Great Depression, the only thing that was holding these different countries together-The League of Nations-failed. It had no army and thus negligible power and the worst part was the aggressor countries like Germany and Russia were not even part of it.

Saturday, November 2, 2019

Decision makin Essay Example | Topics and Well Written Essays - 1250 words

Decision makin - Essay Example This section reports on decision to implement an e-supply chain by Jaguar Land Rover through analysis of sources of information for making the decision, evaluation of the available information, and explains appropriate communication of the information to help managers in making the decision. Available sources of information Multiple sources of information exist for making decision on application of e-supply chain by Jaguar Land Rover. The company’s customers form the first source of information. As the end user of the products, the customers determine the quantity of products to be availed at different points of a supply chain at given times. The customers’ locations and preferences also influence decisions on supply chains for utility objectives. Competitors are another set of information source as they determine competitiveness of the industry. Based on customers’ preferred choice of supply chain and trend in demand, information on competitors’ supply ch ains is necessary in determining the most suitable option that can gain Jaguar Land Rover an advantage over the competitors. Competitors’ intentions for new approaches to supply chain are another source of information for planning purposes. Another source of information for the decision is professional bodies and experts who can offers vast information of financial and legal scope of available supply chain options. Financial information involves cost of installation and implementation of different supply chain alternatives and information on legal scopes include rights and liabilities that can emanate from implementation of available supply chain options and involved contracts. Other sources of information include â€Å"industry and trade associations,† â€Å"conferences and trips, superiors and board members† and other members of the organization (Auster and Choo 1994, p. 211). Analysis of available information through decision-making models One of the availabl e information about the company is its ownership that exclusively belongs to TATA and which means that TATA’s interest must be incorporated in the decision making process. Jaguar Land Rover is also a major player in the competitive motor vehicle industry, a position that identifies competitors, their initiatives, and potential supply chain alternatives as significant information. The company’s target market that is the set of luxurious consumers who are majorly dignitaries and the royal class is also significant to the decision making process. Jaguar Land Rover has also witnessed expanding market in the international scope. Stakeholders’ interest in the company’s operations such as workers’ job safety and impact of the company’s operations on the economy are other fundamental information for the decision because the stakeholders have power, both directly and indirectly, to influence the management’s decision to implement or rescind of fered recommendations on e-supply chain for the company (Mottram and Pierron n.d., n.p.). Analysis using the Simple Multi-Attribute Rating Technique (SMART technique) The Simple Multi-Attribute Rating Technique, also referred to as SMART techniques for decision-making, offers a basis for analyzing the company’s available information. The decision making model depends on variables’ values and chances of occurrences upon which weights are attached to variables and cumulative values for each alternative determined for decision. The first step in implementing the decision model is