Success Factors in the World Toy Industry Essay - 23

Success Factors in the World Toy Industry - Essay Example This is because wherever there is a fair competition market structure, the number of competitors becomes many, with each having its own business strategy. Whiles doing this, ways in which the company can take advantage of globalization through international expansion shall also be reviewed. Quote (year) noted that every industry has its own success factors, some of which are internal and others, external. As far as the toy industry is concerned, a similar situation can be seen. From the outcome of the market research by Key Note (2014), one identifies three major success factors that influence the outcome of the toy industry as to whether a particular company will be successful or not. The first of these is the child population in the market, which in this case is the UK market. This is an important success factor given that children serve as the direct consumers of toys and toy products. From Appendix A, it can be seen that there is a very favorable trend of child population whereby the number of children within the population keeps increasing by the year. The second success factor that is also reflected in the Key Note report has to do with the household activity of families in the UK. Quote (year) noted that household activity forms an important demographic factor that directly influences the purchasing behavior of families. As a success factor, it is expected that it is expected that most households will be involved in economic and social activities that make it possible for them to buy toys for their children. With this said, it can be seen from appendix B that there are several homes without dependent children. This is a bad indication for the toy industry because the more dependent children there are the more likely it is for there to be patronage of toys. Meanwhile, the number of workless households keeps reducing by the year, which means that the likelihood of homes to be able to afford different kinds of toys is higher.

Scott Joplin Essay Example | Topics and Well Written Essays - 500 words - 1

Scott Joplin - Essay Example The exact details of Scott Joplin's birth are uncertain, but he was born probably in Linden Texas, between June 1, 1867 and mid-January 1868. He had five siblings, among which he was the second child. His parents were Florence Givins and Giles Joplin. When he was still a very young child his family moved to Texarkana, where his mother cleaned homes for a living. Because of his mother's work he was able to delve into music, and eventually his mother bought him a piano. His talent was noticed by a German music teacher, Julius Weiss, who decided to teach him for free. His experience with Weiss probably spurred him on his musical career. He went to George R. Smith College in Sedalia, where he studied composition. Around 1891 Joplin was in a minstrel troupe, and by 1895 he was in New York, selling some songs. In 1894 he moved to Sedalia, where he worked as a pianist in various places, including gentlemen's clubs.

Achieving Morality Essay Example for Free

Achieving Morality Essay The external factors play a huge role in shaping one’s decisions. One may think that his genetic and background history has the most influence on his actions, but in reality, the intensity of a given situation has greater impact in the choices of the individual. The surroundings one lives in ultimately influences his perception, decision, and morality. In his essay, â€Å"The Power of Context,† Malcolm Gladwell states how it is the little things in life that makes the bigger difference and in many aspects this is true. In Daniel Gilbert’s essay, â€Å"Immune to Reality† he talks about how human perception about reality is not always accurate. In Oliver Sacks’s essay, â€Å"The Mind’s Eye† he shows how there are many different perceptions to view the world. So at the same time, is it possible to dictate what is right and wrong in one’s life if all the decisions are a result of his given situation and surroundings? Also the morality for each person varies depending on their circumstances and perception of their world. Ultimately, an absolute form of right and wrong does not exist because the context of the situation always changes, but still it is possible to achieve an applicable standard of morality in society. Each individual has his own way of looking at the world that is completely unique when compared to the way another person does. This is perception of reality and this form is always open to discussion because the person generates this viewpoint. Each individual makes his decisions based on his perception of the world. â€Å"The processes by which we generate positive views are many: we pay more attention to favorable information, we surround ourselves with those who provide it, and we accept it uncritically (Gilbert 134). In many instance one creates his own perception to suit his way of thinking, so the individual could be in the center of his world. â€Å"He seemed to regard this loss of visual imagery as a prerequisite for the full development, the heightening, of his other senses† (Sacks 304). Most people see becoming blind as unfortunate event, but according to this person it helped him to improve his other senses. â€Å"The tabloids dubbed Goetz the subway vigilante an d the death wish shooter† (Gladwell 153). Rather than seeing Goetz as a lunatic the newspapers depicted him as a hero. So this shows the difference in perception between people and how it varies from individuals. Importantly since each person’s perception varies it is hard to claim whose perception is right or wrong because ultimately is there a â€Å"right† perception of the world that everybody should be following? Even when viewing a painting everybody has their own interpretation of the art. No one claims there is only one â€Å"right† perception; rather the different perceptions are simply different approaches towards looking at the world. â€Å"It was simply inconceivable that someone could pull a gun on someone else on the subway and be called a hero for it.† (Gladwell 154) shows how different viewpoints affect the verdicts of a situation. A hero to some people might be a villain to others and it is hard to claim who is the â€Å"right† hero. The difference in subjectivity among people will always create a discrepancy of opinions among people. Since a variety of perception exists, then is it possible to have a perfect set and stone â€Å"right and wrong† rules in life? The context of a given matter plays a huge role in deciding the morality of the event. Morality is very much depended on the background information of the event. It is very hard to dictate the morality of an issue without seeing the bigger picture. Most people might see stealing as a wrong act, but what if someone stole a piece of bread in order to make sure he does not die from starvation, is that still a wrong act? In a situation like that one might feel sympathetic to that poor fellow and probably will see stealing as reasonable in that given situation. â€Å"We do not realize that our views will change† (Gilbert 135), the idea of morality varies on the situation because the context of the event directly affects morality. â€Å"Blindness now becomes for him a dark paradoxical gift. This is not just compensation, but a whole new order, a new mode of human being† (Sacks 305), in many aspects blind people do not see their condition as a curse or burden rather a different approach towards living and for most sighted people it might be hard to understand and accept this approach. â€Å"That there are instances where you can take normal people from good schools and happy families and good neighborhoods and powerfully affect their behavior merely by changing the immediate details of their situation† (Gladwell 162) this shows how the little details of an event plays huge role in the outcomes of an event. Essentially, context of a situation is what dictates morality and it is going to be almost impossible to label morality as set and stone as something like the Ten Commandments because the context always changes. Even though the standards of morality vary according to the situation there are some aspects of morality that one subconsciously accepts. Some ethics are universally considered wrong and one’s mind without even one knowing already knows that some choices are not right. That is why the mind tends to usually question the choices one makes. â€Å"When we cook facts, we are similarly unaware of why we are doing it, and this turns out to be a good thing, because deliberate attempts to generate positive views† (Gilbert 134), subconsciously to some extend individuals are aware of the morality behind an action and this will help individuals to make their decisions wisely. â€Å"To what extent are we our experiences, our reactions shaped, predetermined, by our brains, and to what extend do we shape our own brains† (Sacks 303), There are some emotions and judgments that are simply preinstalled in one’s mind which aids an individual in making choices that are difficult. â€Å"After a while the bad guys wised up and began to leave their weapons home and pay their fares† (Gladwell 157) this shows how there is a consciousness inside individuals that helps in guiding with decision making. When making a choice that might inflict pain to us or others one’s mind will usually try to suggest against that decision. That is why the idea of taking an innocent person’s life is universally seen as a wrongful act in societies. Therefore, there is a sense of unconscious morality that lies within the hearts of most individuals. Achieving a complete form of morality is a very idealistic thought because practically it’s not possible. There are infinitely many ways of perceiving morality and it would be impossible to set a standard that would suit all the time. â€Å"Too often people with sight don’t see anything† (Sacks 310). There are parts that even one’s eye sometimes cannot capture meaning that sometimes it’s simply not possible to account for all the possibilities. â€Å"The benefit of all this unconscious cookery is that it works, but the cost is that it makes us strangers to ourselves† (Gilbert 135). People sometime engage in activities without being aware of the magnitude of the situation. †They are both based on the premise that an epidemic can be reversed, can be tipped, by tinkering with the smallest details of the immediate environment† (Gladwell 157) the intensity of the situation has a huge influence on the decision of the individual. Due to all this, perceiving morality completely would be very difficult. Also having a perfect morality would require infinite knowledge which humans do not possess. As an individual one is limited at what he observes at a given time and there are limitations for each individual in this world. However, through the perceptions of many individuals, people will be able to come up with a better understanding of morality. Even with the limitations each individual has a small understanding of morality in the back of his head. Essentially, when all these understanding that are possessed by individuals are combined then a suitable set of standards will be formed that can accompany most situations. The collective effort of people will help to generate a better set of morality that will help in creating a peaceful environment for people to live in. That is why it is important to have many different perceptions of morality because they all eventually lead to creating appropriate rules that will be suitable for the well-being of a society. Despite not being able to have an absolute morality with infallible accuracy and with infinite knowledge, an applicable method of sensing morality is still practical. Individuals lack the ability to have a perfect morality because for one to acquire it in completion one needs to possess infinite amount of knowledge. Despite this back drop each individual innately has the ability to know morality in small parts and therefore combining the small parts of every individual will help to achieve a suitable set of codes. The differences in perception between people only aids to benefit humans in portraying a better understanding of morality. That is why it is important that there are different types of perceptions because if there was only one view then a very limited and narrow minded principle would be prevalent in the world. The different pathways of thinking done by people finally leads to achieving a suitable mode of morality. An absolute form of morality will never be possible in this imperfect world, however, that does not mean accomplishing a reasonable standard is impossible.

The Nouveaux Riche of Victorian England :: Victorian Era

The Nouveaux Riche of Victorian England Relation of The New Banking/Industrial Class to High Society As the middle class began to further divide, those who grew in wealth became known as a banking/industrial class. Along with their sudden economic prosperity there came a desire for social transformation- an aspiration for new aristocracy. They carried their traditional middle class values into prominence with their accumulation of wealth. They sought to achieve a merit oriented Society rather than social climbing, for their children's sake, into the existing one based solely on birth. This hindered the new class from ever attaining Aristocratic Social acceptance for their new wealth and deemed them the nouveaux riche. Despite obvious disapproval from the Aristocracy the nouveaux riche continued their economic ascent through "personal contact [which] was a crucial element in filling posts" (Loftus 5). This dependence upon others for mounting economic standing was contrary to the middle class value of independence. This industrial class was forced to rely upon the connections, potenti ally aristocratic, in order to succeed. Loftus explains that middle-class values were carved out in these attempts to define a society based on merit rather than aristocratic privilege. However, the importance of cultural capital and social networks to success in the period implies that the rise of the middle-classes in the Victorian period saw the replacement of one set of privileges with another (Loftus 4). However the Nouveaux Riche failed to fully assimilate into aristocratic society due to lack of pedigree. Spending Habits of the Nouveaux Riche Along with new money comes the ability to spend it. The Industrial class did exactly that, using their newly acquired money to purchase large amounts of land and houses august enough for the property. This land ownership propelled some nouveaux riche into riches surpassing those of the highest aristocracy. Their houses of course had to be decorated outdoing the splendor of the structure itself. This class "took immense pride in their homes which they saw as a reflection of status" ("BBC Homes"). The styles were excessively ornamental and took their influence from Gothic styles, rococo, styles, the Orient, and developments from their own industrialization. With owning such ornately decorated residences they had to show them off; this was done so through dinner parties and balls. People of course could not be outmatched by the rich styles of their houses and therefore doled out large amounts of money for clothes and transportation.

Learning Team Reflection Essay

Owners and managers in the business need to make working capital management decisions such as inventory management, cash-flow management, accounts receivables, and supplier or vendor trade credits to ensure the company has sufficient cash-flows to pay short-term obligations. There are a few different working capital strategies a business can employ. Flexible current asset management involves holding large cash balances and inventory. The restrictive current asset management strategy requires companies to keep current assets low. Finagle a Bagel is a young, growing business that applies the working capital trade-off strategy to manage their working capital (Parrino, Kidwell, & Bates, 2012). Married entrepreneurs purchased the business when it was a few years old and had four to five stores (University of Phoenix, 2014). The owners encountered many of the same issues commonly associated with running a young business. They had to learn to deal with customers, vendors, and suppliers; how ever, the larger issue was discovering how to manage their working capital. Maintaining and continually producing working capital is imperative for any business. Effective working capital management ensures the company has enough money to pay the bills. Managing their current assets, inventory, and liabilities are all part of working capital management (Parrino, Kidwell, & Bates, 2012). Finagle a Bagel owners focused on mapping out their future and ensuring the business would grow enough to produce a successful cash flow. A successful cash flow, and keen understanding of their banking relationship, will allow the companies to more comfort when taking on debt or liabilities. The strategies Finagle a Bagel use for managing working capital are no different from the plan many companies utilize. The owners established a good rapport with their bank, vendors, and suppliers (University of Phoenix, 2014) which enables them to create the opportunity for positive interest rates and  trade-offs. The good interest rates assist in the short-term and long-term when they need to acquire a line of credit to pay suppliers or to expand the business. The working capital trade-off strategy requires the manager to balance shortage costs against carrying costs (Parrino, Kidwell, & Bates, 2012). The business must be flexible. To allow for more time to pay another business back, trade credit is a strategy businesses extend to one another. Businesses work out a type of credit line to provide the other business with a suitable amount of time to pay their bill (Parrino, Kidwell, & Bates, 2012). Credit lines are ideal and prevent banks from getting involved. Finagle a Bagel uses the strategy of trade credit regularly. Improper working capital management may jeopardize a company to default or bankruptcy. Upon reviewing the working capital management video, it is inevitable that the owners and managers in a business should monitor cash inflows and outflows periodically by computing financial ratios such as efficiency ratios – inventory turnover, and account receivable turnover and working capital ratio to ensure that the company has adequate cash-flows all the time. References Parrino, R., Kidwell, D. S, & Bates, T. W. (2012). Fundamentals of Corporate Finance (2nd ed). Hoboken, NJ: Wiley. University of Phoenix. (2014). Week 3 Electronic Reserve Videos. Retrieved from University of Phoenix, FIN/571 – Foundations of Finance course website.

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PG Ldl Case - 5558 Words

Procter Gamble Company (A) In November 1981, Mr. Chris Wright, Associate Advertising Manager of the Packaged Soap Detergent Division (PSD) of the Procter Gamble Co. (PG) was evaluating how the division could increase volume of its light-duty liquid detergents (LDLs). 1 The excellent growth of Dawn dishwashing liquid since its national introduction in 1976 meant that PG now manufactured and sold three leading LDL brands, holding a 42% share (by weight) of the industry’s $850 million in factory sales. Based on input from the three LDL brand managers who reported to him, as well as his own knowledge of the LDL category, Wright believed there were three major opportunities for volume growth: (1) the introduction of a new brand, (2) a†¦show more content†¦This information was key in helping the brand groups to recommend action which would maximize volume and profit growth. Advertising services department. Within the department, there were nine staff groups which serviced the advertising department . These were market research, art and package design, TV commercial production, media, copy services, field advertising, marketing systems and computer services, promotion and marketing services, and advertising personnel. PSD market research included the following: 1. Market analysis, including bimonthly syndicated market data that PG purchased from A.C. Nielsen Co., as well as selected data purchased from Nielsen, Selling Areas Marketing, Inc. (SAMI) and other suppliers for test markets. 2. Consumer research, including studies to: a. monitor how consumers used products and track consumer usage of, attitude towards, and image of PG and competitive brands; b. test the performance of current products and possible product modifications under in-home usage conditions; and c. evaluate the advertising, packaging, promotion and pricing of PG brands; also, to evaluate the potential of new-product ideas, using such techniques as concept research and simulated test markets. Light-Duty Liquid Detergents During the 1940s, most U.S. consumers used powdered laundry detergents to wash their dishes. Research indicated, however, that consumers foundShow MoreRelatedThe Light Duty Liquid Detergents (Ldl) Market1428 Words   |  6 PagesI. 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The marketing budget for H-80 is $60 million for the first year, which includes $18 million on advertising, $37 million on promotion, and $5 million of miscellaneous marketing expenses. ii)Scheduling of LDL Promotional Events: TheRead MorePG, Light Duty Liquid Detergents2266 Words   |  10 Pagesi)Budget Allocation: The LDL managers of Ivory Liquid, Dawn, and Joy spend about half of their marketing budget in advertising and with a lower share on promotion. This is different from the strategy of Colgate Lever, who spends a higher percentage on promotion. 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