When to Rebrand Your Business

When to Rebrand Your Business Rebranding is a natural part of the life of your business. Even large companies like Coca-Cola have rebranded multiple times in order to keep their brand modern and reach new generations of customers. Rebranding is about more than updating your companys colors or creating a new logo. Your rebranding experience will often reflect a meaningful change in your companys philosophy. It may even reflect an expansion into new markets. When you decide that it may be time to rebrand, you should choose to move forward mindfully.Rebranding is expensive. Between the costs of redesigning your visual marketing, the hours of work put in to designing your new brand and the inevitable period of customer confusion when you relaunch your company, the costs of rebranding can add up. There are several things that you can do to make sure that you and your business put your best foot forward upon the relaunch of your brand.The most important thing to do is to consider your timing and determine that it is th e right time for your company to rebrand. If it is the right time, you must consider important questions about the process and determine what issues you can resolve by rebranding.Finally, you should mindfully consider your new direction in order to avoid any serious rebranding mistakes. © Shutterstock.com | Rawpixel.comIn this article, we will explore 1) how to determine when it is time to rebrand your business, 2) questions to ask before your rebrand, 3) avoiding rebranding mistakes, and 4) conclusion.HOW TO DETERMINE WHEN IT IS TIME TO REBRAND YOUR BUSINESSThe decision to rebrand is usually made when a company feels that their brand does not match the company that they have become. Whether it is because you are no longer reaching your target market or because your brand has become dated, many businesses are able to determine if it is time to rebrand with self-reflection. Sometimes there is a specific issue that causes you to reassess your brand. Upon reflection, you may find that there are actually several issues. Here are the top four reasons that most companies choose to rebrand:You arent reaching your target marketThere may be several reasons that you are no longer reaching your target market. It may be because your company has evolved and is now reaching for a different demographic, but your branding still reflects your previous goals. Or you may lose contact with your customers because the market has shifted, and your brand has not yet shifted to reflect the new market conditions. In some cases, your brand may be aimed at your ideal customer base but they may not respond because they are confused about what you do. It is important to identify the reason that you are no longer reaching your market. By identifying the reasons you are failing, you can address them as you move forward into the process of rebranding.Your brand has become datedThe world is moving faster than ever with the help of the Internet. Whether you are a big company or small business, you can expect that you will need to modernize periodically. Your customers will expect you to be up-to-date with the modern age. Continuing to operate on the business philosophy you established even five to ten years ago may be perceived as outdated in the rapidly evolving market. Just as customers expect your service to accept credit and debit cards, they expect you to keep up with their tastes and interests.Coca Cola is an excellent example of a business that has successfully evolved over the last 100 years. Coca-Cola began its life in an Atlanta pharmacy, but it quickly transformed into a popular soda fountain request. As time went on, Coca-Cola kept an open dialog with its consumers. Now, this 120-year-old brand is one of the most popular beverages in the world. The name Coca-Cola is the second most recognized word in the world.Coca-Cola did not change its brand overnight and neither should your business. Your customers will expect continuity in your services and your brand. People need time to become familiar with your new brand, and most consumers find value the comfort of familiarity. Coca-Cola reached out to customers who were looking for a low-calorie option and in 1982, Coca-Cola presented them Diet Coke. They then let Diet Coke evolve from being a low-c alorie option to become the official drink of fashionistas everywhere. They continued to reach out to their client base by showing them that they were aware of their interests. To demonstrate their commitment, Diet Coke has partnered with Marc Jacobs and Karl Lagerfeld to show their consumers that they can offer the same quality product to a new generation of Diet Coke drinkers. Coca-Cola has kept the nostalgic features that their customers love, but they have expanded to embrace fashionistas, young men, and the health conscious. As a result, they have undergone numerous timely and successful rebrands without damaging their customer base or their brand power.Your company philosophy has changedYou established a set of values when you started your company. These values were designed to guide your new company through the rocky first few years and provide a foundation for your business to grow. But as many businesses grow, they experience change. The philosophy of a company is often fou nded on the core values of its initial owners and leadership. As leadership changes and a new generation takes the helm of the business, the business itself changes. Your brand should reflect these changes. You know that your brand is more than just your logo. Your brand is a reflection of your business and your best practices. Your brand also provides a solid foundation and a set of guidelines that provide guidance in the way that you do business. Whether you have moved away from your original vision or just expanded upon it, your brand should always reflect your company policy.You have expandedIf you have decided to expand your business, you need to make your customers aware of the expansion. A rebrand is one of the most straightforward ways to re-enter the market. By rebranding, you can let your customers know that they can still rely on you to be the valuable brand you have always been. The difference is that now they can expect new things from you as well. A successful rebrand will reflect a more sophisticated company that you have evolved into. It will also add value to the company.QUESTIONS TO ASK BEFORE YOUR REBRANDThink back to the early days of your business and you will recall that you asked and answered hundreds of questions. These questions were asked by banks, investors, employees, family, friends, and potential customers. All of these questions helped you to formulate the philosophy and rules that organized your business. When you decide to rebrand, you need to ask many of these questions all over again. By determining why you are rebranding, how you will benefit from your brand and how far you are looking into the future, you can lead your new brand in a positive direction from the start.Why are you rebranding?This is the first question you should ask before you make the decision to rebrand. Establishing why you feel that there is a need to rebrand will cause you to ask further questions such as:What has changed in your company?What has changed in the market?What problems need to be solved?How have your customers changed?What is meaningful to your customers?By being able to answer these questions, you will be able to accomplish two things. Firstly, you will understand whether or not a rebrand is necessary for your business. Secondly, you will have a foundation upon which you can rebuild your brand. Rebranding can be similar to the experience of branding your company in the first place. When you first started to build your brand, you focused on your companys philosophy. You also focused on your customer base and their needs. To rebrand, you will need to answer all of the initial questions again. But this time, you have the added benefit of being able to bring the power and experience of your previous brand into your companys next phase.How will your business benefit from rebranding?Rebranding is expensive, and there should be tangible benefits for both your business and your customers. Having established why you are rebran ding, you can focus on creating solutions through your new brand. Rebranding will not only benefit your business by allowing you to refocus on your business. Rebranding will give you a new opportunity to differentiate yourself from your competitors on the marketplace. By differentiating yourself, you can showcase your businesss unique strengths as well as bring it to the front of the competition.Finally, rebranding will allow your business to stay current. Staying current does not only mean keeping up with technological trends. Staying current means connect with new customers that your new brand is trying to reach. The solutions provided by rebranding may now mean that your business appeals to a new demographic. Ideally, your brand will be able to connect with this new group of consumers. By determining how your business will benefit from rebranding, you can begin to weigh the true costs of relaunching your business.It is not just your business that should benefit from rebranding. Y our customers should benefit from your evolution as well. When you are rebranding, you should be providing your customers a better service. By providing customers a service that is valuable to them, your brand will grow in power. Your rebrand should focus on both your business and your customers. After all, you do not have a business without your customers.How long do you expect the new brand to last?When you are rebranding, you are attempting to move your business into its next phase. But leading your business into the future requires a plan. When you decide to relaunch your brand, you should make sure that your business is not intending to undergo major changes in the near future. If you intend to go through major shifts regularly, you may want to consider either to hold off on rebranding or to develop a brand devoted to broad innovation. When you begin to shift your business into its next phase, your customers will cling on to what is familiar to them.For example, no matter what technological enhancements Microsoft offers their customers, the 1.5 billion people who use Windows everyday demand that they keep their start button. Windows users have been using their start menu to navigate their computers since its appearance in Windows 95. When loyal customers believed that Microsoft was working to take away their start menu and replace with the Windows 8.1 interface, PC users everywhere had a collective meltdown and attempted revert to their old operating system. Even though both you and your customers crave innovation, you need to give them time to adjust to your new brand.AVOIDING REBRANDING MISTAKESRebranding is similar to establishing your initial brand but with one exception: you have the ability to bring your brand power forward with you. The ability to bring all of the positive aspects of your company with you can benefit both your brand and your rebrand. Careful consideration of your business needs and your customers needs must go into your branding de cision. Choosing to ignore either of these facets can land companies in trouble with both their customers and the media. These are the top three brand damaging mistakes that companies make:If It Isnt Broken, Dont Fix It Rebranding solely for the sake of refreshing your brand is not worth the large costs involved. History tells business not to eliminate features that customers love because it will alienate your customers. Brands like Netflix and Xbox have rebranded with little consideration of their core customer base. Their actions alienated large groups of customers and did real damage to their business. After only a few weeks, they were forced to rebrand again and reverse many of their policies.The bottom line is: if you provide a service that your customers love, dont take it away from them.A Rebrand is NOT a Change of Name Sometimes business owners go through phases where they are bored with their brand. This is completely natural but it is not a good reason to rebrand. Not only is an arbitrary change confusing to customers, an unnecessary change of name may cause you to lose all of your brand value. Dont take on pointless redesigns of visual marketing if you arent making any changes to your business or service.In 2010, Radio Shack decided to change its name to The Shack but it offered no other changes or improvements. Customers got confused, and Radio Shack lost the brand power they had been building for decades. The company has not yet recovered from their change of name, and they have closed 1,100 stores. In 2014, they changed their name back to Radio Shack.If you realize that you have negative brand equity, a change of name may be what you need, but it is not the only thing that you need. If your brand has a negative perception, you need to find out why and offer a solution to the problem when you change your name and rebrand.Take Care of Your Customers Rebranding is expensive, but its sole purpose should not be making your business more money. Your ne w brand should reflect not only a change in your philosophy but the way your customers have changed as well. 43% of millennials say that they rely on the same brands that their parents do; however, these brands are not the same brands as they were when their parents found the company.Converse is an excellent example of a brand that has adapted through the years to continue to meet the customer needs. Converse was founded in 1908 and through the last 100 years, they have made shoes for movie stars, WWII soldiers, basketball players and skateboarders. Millennials love their timeless style and their utilitarian use but what they really love is that they can make their own pair of Converse as unique as they are.CONCLUSIONRebranding is a big decision. The decision should be made with as much care as you took when you started your company. To take your brand into its next phase, you will need to both consider your mistakes and remember what you have done right through the years. Though yo ur customers are changing, they still crave the comfort of familiarity. Brands like Coca-Cola and Converse have expertly demonstrated have to move a brand into the future by harnessing their brand power through innovation. By mindfully taking advantage of your years of experience and paying close attention to your target market, you can navigate your business into the future.

The And The Revolution Of America s New On Our Children...

There’s an issue where the underlying science remains a political football, and scientists are regularly challenged and called out personally. Where energy needs and short-term economic growth are set against our children’s health and future. Where the consequences of bad, short-sighted decisions may be borne primarily by a small subset of under-served and undeserving persons. And where the very descriptive terms in the debate are radioactive, words spun as epithets. We’re not talking here about global warming, and â€Å"deniers† versus â€Å"warmists.† We’re talking about the game-changing new set of unconventional oil and gas extraction technologies and techniques collectively known as hydraulic fracturing, or â€Å"fracking.† Ask the most hardcore†¦show more content†¦The stench of unknown – even secret – chemicals, sickness, and looming illnesses, and death. Refereeing these confrontations is no easy thing, and unlike the â€Å"settled science† of climate change and its causes, the science of fracking is far from settled. But a review of the research can help clarify some of the chief points of contention. If there’s a single source plausibly seen as the fairest, most comprehensive, and cogent assessment, it might be the 2014 literature review published in Annual Reviews of Environment and Resources. It’s titled â€Å"The Environmental Costs and Benefits of Fracking,† authored by researchers affiliated with leading universities and research organizations who reviewed more than 160 studies. Below are the arguments and synthesized evidence on some key issues, based on the available research literature and conversations with diverse experts. Air quality, health, and the energy menu ISSUE: The new supply of natural gas reachable by fracking is now changing the overall picture for U.S. electricity generation, with consequences for air quality. PRO FRACKING: Increasing reliance on natural gas, rather than coal, is indisputably creating widespread public health benefits, as the burning of natural gas produces fewer harmful particles in the air. The major new supply of natural gas produced through fracking is displacing the burning of coal, which each year contributes to the

Who Else Is Misleading Us About Toefl Integrated Writing Essay Samples?

Who Else Is Misleading Us About Toefl Integrated Writing Essay Samples? New Ideas Into Toefl Integrated Writing Essay Samples Never Before Revealed The examiners wish to observe how well you may organize your ideas and express them in English. If a letter should be translated, employ a skilled translator. Like a personal essay, a great recommendation letter is tough to write and demands a particular level of mastery over the English language. As you're reading, take note of the principal points and key provisions, but don't be concerned about writing down everything, since you'll receive the reading passage for a reference as you write. Then you'll have to write about both passages. You'll begin with the reading passage. On the true TOEFL, you will have the reading passage for reference as you write, so it'll be displayed again here. The Definitive Approach for Toefl Integrated Writing Essay Samples Below are a couple of the very best. Sample answers for both tasks are included so that you can acquire an idea about what a fantastic essay appears like. The lecture might incorporate information that isn't regarding the reading. Don't forget to show exactly how it responds to each point it discusses in the reading selection. After reading the passage, then you will listen to a lecture on the identical topic. Then you are going to listen to a lecture regarding the exact topic. For the Independent Writing task, you will get a question on a specific topic or issue. To start with, your focus ought to be on summarizing the principal points of the lecture. Another portion of the test is they offer you a topic or a problem and they make you compose an essay about it. The objective of the TOEFL Integrated essay is to think about the way the reading and listening passages connect to one another. The TOEFL Integrated Writing Task doesn't need to be scary. Integrated means that you want to obey a lecture, than read a passage, then compose a summary what you have learned. For the Integrated essay, you wish to abide by the points you've heard or read. A great prep book can be absolutely the most important study tool you use, and we've got information on all the ideal TOEFL prep books you need to consider. This list of questions appears right on the TOEFL practice website and can show up on your real TOEFL writing test. There are not many full-length mock tests that, to a massive extent mimic the true GRE, and that means you won't wish to waste them. You're able to still get a great score with minor errors. Toefl Integrated Writing Essay Samples Secrets That No One Else Knows About You are going to have access to the reading passage as you do the writing task, and that means you always have the option to look at it one more time while you're writing. Since the Writing section demands multiple abilities, you're going to want multiple study tools to be able to be totally prepared. The following two sections will explain the format and requirements of every one of the writing tasks together with how they'll be scored. Additionally, machine learning can offer predictive campaigns which are most likely to trigger optimistic responses. AI and machine learning can be employed to analyze the massive amounts of information. Whenever you do the writing task, you're the person who decides what things to include. There you go, the TOEFL integrated writing task is really a great deal simpler than it looks, it only takes a little practice If you'd love to get another practise, take a look at the hyperlink below. Toefl Integrated Writing Essay Samples Secrets 1 large thing the graders are trying to find is effective transitions. To find the proper pencil grip for your son or daughter, you can should check in internet catalogs. Some people think that university students should have to attend classes. Many students have trouble thinking of certain examples, but it's a significant part of superior writing. Both are crucial as they function as a foundation for licensure, scholarship programs and even ut ilized in some government bodies. Lots of people who need to attend colleges in the USA take the TOEFL. Others believe that it is always preferable to have a teacher. Students lead busy lives and frequently forget about an approaching deadline. The Good, the Bad and Toefl Integrated Writing Essay Samples Your target will be to present convincing evidence to the reader your position is the proper stance to. Just note the subject, claim and reasons as best as you are able to. The topic is going to be a comprehensive surprise. You should have your reasons, and our principal concern is that you wind up getting a great grade.

Professional Role/Code of Ethic Free Essays

Codes of Ethis on the case of Mr. E Professional Roles and Values Western Governor University State Regulations and Nursing Standards Nursing, as other medical profession, aims at helping and saving the life of other. As much as nurses and physician wants to intervene to prolong a patient life, it’s important to consider patient’s wishes. We will write a custom essay sample on Professional Role/Code of Ethic or any similar topic only for you Order Now Ethically, intubating Mr. E without proper discussion and consideration of his wishes is against his living will. It’s a violation of Provision I of ANA Code of Ethics in respecting patient’s dignity. The nurse also fail to meet the Standards of Competent Performance based on California Code of Regulation, Article 4, code 1443. 5, which stated â€Å" [nurses] acts as the client’s advocate, as circumstances require, by initiating action to improve health care or to change decisions or activities which are against the interests or wishes of the client [†¦]† (p. 70) Implication. According to code 2. 1 â€Å"Primacy of patient’s interest† from American Nurses Association, it’s the nurse’s commitment to respect the uniqueness of each patient, and respect patient’s wishes. Therefore, the nurse is responsible to seek for a solution if patient’s wishes are conflict with others (p. 5). Based on the above codes, the nurse in the scenario must inform Mr. Y about Mr. E’s wish. The nurse also need to assess Mr. Y understanding of risk and benefit of the procedure, so he would have all the neccesary information to make decision. Code of Ethics The Code of Ethics was developed by the American Nurses Association as a framework for ethical guideline. The work serves as a standard in assisting nurses making ethical decision. According to the ANA Code of Ethics,(2001), provision I stated that nurses must treat patient with compassion and respect the patient’s dignity, worth, and uniqueness, regardless of social and economical status, nature of health problem, and person’s attributes (p. 1). In specific, the interpretive statement 1. 4, in which the focus is on patient’s right to self-determination, is appropriate to apply in this scenario. (p. 4) Impact of Code. Code 1. 4 stated that nurses respect patient’s dignity by honor his or her own wishes. Thus, it’s important to inform Mr. Y of Mr. E’s wish as â€Å"do not resuscitate† (DNR). Although Mr. E is mentally challenge, he has his own feeling and perspective on his health status. Moreover, the patient’s mental condition when he signed Advance Directive and Power of Attorney is unclear; therefore, ignoring his wishes is a false assumption and an understatement to his decision-making capabality. As a nurse in this scenario, I would inform Mr. Y of his brother wish on Advance Directive. Ethics of Putting Patient on Ventilator. Putting Mr. E on ventilator based on the niece’s permission is unethical. The decision didn’t make based on patient’s best interest due to Mr. Y unawareness of Advance Directive. In addition, the niece made the decision instead of Mr. Y; therefore, the patient’s Power of Attorney was not followed completely. As the nurse, I would call Mr. Y to explain the situation and the decision of his niece. I would also inform him of the patient’s wishes in the Advance Directive. As an advocate for patient, I would also bring up the patient’s wish to the physican’s attention, and discuss the need to inform both Mr. Y and his niece of the Advance Directive. Although Ms. H doesn’t have Power of Attorney, she plays a role in assisting Mr. Y decision-making since Mr. Y called her for suggestion. Ethics of Authorizing Ventilator. Mr. Y should considers his brother’s wish based on the Advance Directive. Mr. Y should also ask for the risks and benefits of putting his brother on ventilator. As his brother, Mr. Y would want to prolong his brother’s life; however, Mr. Y should take in account of his brother’s desire, quality of life, and the extend of suffering. If Mr. Y doesn’t agree with the Advanced Directives, Mr. Y’s authorization is valid since the Advanced Directives is not fully completed. Analysis of Mr. E’s Advanced Directives Because of Mr. E mental health status, his capabality to make decision is unclear when he signed the Advanced Directives. Moreover, according to EmedicineHealth, â€Å"it’s important that the designated power of attorney knows and understands your [the patient] wishes† (Nabili, 2012). However, family member didn’t sign the Advance Directives, and the involvement of family is unclear. Thus, the appointed Power of Attorney may not know and understand the patient’s wish. The patient and family might not discuss patient’s decision. In addition, when the decision of Mr. Y conflicts with the decision of Mr. E in Advance Directives, the situation becomes very complicated. HIPAA Aside from Mr. E complicated situation, there are major Health Insurance Portability and Accountability Act (HIPAA) violations in the scenario. The physician violated patient’s right to privacy protection by discuss his medical condition and situation to Ms. H in the waiting room, a public place. The information was disclosed to other patients, to Ms. H’s boyfriend, and other non-related health care staff. Moreover, discussing Mr. E condition to Ms. H should be questioning because Ms. H, although she’s the patient’s niece, is not the appointed power of attorney. One of the nurse role is advocate for paient. By not protecting patient’s privacy, a nurse also violate HIPAA. The nurse, although aware of the physician violation, did not intervene to protect Mr. E’s information. Therefore, she could be hold accountable for violation of HIPAA. In this scenario, a nurse commented on ignoring HIPAA. The nurse is not only violated patient’s privacy legally, but also ethically according to ANA Code of Ethics. Besides physician and nurse, the facility is also accountable for HIPAA violation, for the facility did not reinforce the importance of HIPAA with its staff and physician. Professional Conduct As the above paragraphs discuss, the nurse fails to conduct the standard of nursing by ignoring patient’s rights for privacy protection. By stating â€Å"forget it†¦no one pays attention to HIPAA anyway,† the nurse is at risk for violating HIPAA. Beside HIPAA, the cafeteria nurses fail to act as patient’s advocacy by stating â€Å" What difference does it makes? The guy’s got diabetes, ir retarded, and is already in a nursing home. † This nurse violated Provision I in Code of Ethics by ANA in which a nurse cares for patient with compassion and respect regardless of social and economical status, personal’s attribute, and nature of health problems (p. 1). Futhermore, lack of knowledge of Advance Directives is a misconduct of Provision II in Code of Ethics by not â€Å"primacy patient’s interest† and respect patient’s wishes. Steps. To avoid misconduct of professional standard, the nurse in this scenario should talk to the physician in private about disclosing patient information. The nurse first suggests to call Mr. Y and obtain permission to discuss care with Ms. H; then the nurse must inform Mr. Y the Advance Directives as well as assess Mr. Y understanding of risks and benefits of the procedure. Obtaining informed consent from Mr. Y is also a crucial step. If Mr. Y can’t be reach in a time sensitive manner, the nurse should contact the agent that helped Mr. E with the Advance Directive; she can then obtain information related to Mr. E decision-making ability at the time, and inform doctor and charge nurse for decision-making. However, in this scenario, the nurse should notify charge nurse and higher chain of command about the situation and the violation of HIPAA. Ethical committee should be notified to consult for appropriate actions. Regarding her colleagues, the nurse should inform her supervisor, without naming name, the need to orient staff regarding HIPAA, Advance Directives, and reinforce in Code of Ethics. By taking appropriate interventions, the nurse ensures dignity in patient care and maintain respect in work environment. References American Nurses Association. (2001). Code of ethics. Retrieved from http://nursingworld. org/MainMenuCategories/EthicsStandards/CodeofEthicsforNurses/Code-of-Ethics. pdf California. (2005). California nursing practice act: With regulations and related satutes. Matthew Bender Co. , a member of the Lexis Group. Nabili, S. (2012). Advance directives. Retrieved from http://www. emedicinehealth. com/advance_directives/page2_em. htm How to cite Professional Role/Code of Ethic, Essay examples

Strategic Procurement Management Essay Example

Strategic Procurement Management Essay The traditional purchasing methods of procuring materials and services have evolved over the last 20 years and to-day is often referred to as Supply Chain Management. The simple definition of supply chain management is the integration of all organisations involved in supporting the customer with a quality product utilising inventory in the most effective and efficient manner. This concept is vague because it embraces a number of procedures and policies within an organisational structure and senior executives in many corporations often fail to understand the important role of the supply chain function This paper will attempt to answer the questions posed by J.R. Electronics, a Scottish electronics company established in the 1980s who feel that that a new competitive advantage must be developed to maintain the companys position as a market leader. The management of the company have identified the four key strategic procurement activities of location and liaison with world class suppliers, global sourcing, E-commerce and a lean or agile approach to procurement as key initiatives that they believe will form the basis of their ongoing advantage. In writing this paper I have assumed that J.R. Electronics are a medium sized company with limited experience in strategic procurement activities. 1. Location and liaison with world class suppliers. We will write a custom essay sample on Strategic Procurement Management specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Strategic Procurement Management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Strategic Procurement Management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer J.R. Electronics must attempt to understand what the definition of a world-class supplier is before they begin to re-engineer their current procurement processes. The common answer to this question by both buyers and suppliers is that to attain world-class status a supplier will offer outstanding performance in price, quality and delivery (Tim Minahan, 1998). Terry A. Carlson, Vice President of Purchasing for the Maytag Corporation argues, that to be considered as world-class a supplier must possess the following 3 characteristics: 1. A formal (and demonstrable) company wide effort to continually improve products and processes. 2. The ability and willingness to align, products, processes and business strategies with customers for mutual success. 3. The proven ability to be an industry leader in developing new technologies and products. Genuine world-class suppliers share a common vision of continual improvement and a commitment to continually improve both their products and their processes. Continuous improvement is a way of life from the shop floor worker to the managing director. The senior management of J.R. Electronics should not underestimate the task of identifying world-class suppliers to compliment their supply base. The process of selection will require a number of meetings to determine if the potential supplier is genuine in its quest for customer excellence and is capable of meeting all of their clearly defined expectations. J.R Electronics will need to consider the following points during the selection of a prospective world-class supplier. 1. Is the supplier committed to continuous improvement? Do they have a formal process to achieve year on year improvements? 2. Are they a technology leader within their market sector? 3. How adaptable are they and are they willing to invest in new equipment as they develop new technologies? J.R. Electronics must also recognise the need to develop the relationship through mutual trust and respect. Working with a world-class supplier should be considered a long-term partnership as opposed to a short-term arrangement. They must clearly define their expectations and measure the performance to their targets and be prepared to offer assistance when required. More importantly J.R. Electronics must be prepared to reward good performance. This can be in the form of long-term contracts and the sharing of cost savings. 2. A move from international to global sourcing To maintain a competitive advantage in the market place J.R. Electronics need to consider supply management strategies that will include long-term global supplier partnerships that extend beyond the traditional buyer-seller relationships into a multi-tiered world wide network. The term international sourcing has largely been replaced with the broader philosophy global sourcing which has been defined by (Monczka and Trent, 1991) as the integration and coordination of procurement requirements across worldwide business units, looking at common items, processes, technologies and suppliers. They also distinguish international and global sourcing by recognising that international is lack of coordination of requirements between worldwide business units. The evolution to global supply management can be broken down into three distinct stages. * Stage One: International Purchasing J.R. Electronics will focus on increasing volumes, minimising prices and managing their inventory costs. These are key characteristics of an organisation first entering the global sourcing arena. * Stage Two: Global Sourcing At this stage J.R. Electronics will place more emphasis on supplier capability, supporting production strategies and servicing customer markets. * Stage Three: Global Supply Management J.R. Electronics will optimise their supply networks through effective logistics and capacity management. Risks are minimised at this point and suppliers can be considered strategic partners. Corporations at this stage are sourcing for technology leadership. The main benefits to be gained from adopting a global sourcing strategy are as follows: 1. By adopting a global sourcing policy buyers will be able to purchase parts cheaper in other parts of the world. This is as a result of cheaper labour rates, lower overheads, lower raw material costs, higher productivity and reduced transportation costs. 2. Sourcing on a global basis will increase the number of potential suppliers to select from. Increased competition will make it easier to form reliable long-term partnerships with suppliers of potentially low cost materials. 3. Improved lead times due to increased availability of parts. 4. Technology is often more advanced and it is quite possible to obtain the latest technology from a global source. 5. The quality of parts purchased globally is often higher than those bought on the domestic market. The main problems that J.R. Electronics may encounter with global sourcing are: 1. Cultural issues that can cause problems due to differences in business etiquette and spoken language. This can lead to misunderstandings that potentially hinder and prolong the negotiation process. 2. Legal systems differ from country to country and this can lead to considerable problems. Intellectual property theft is currently a major problem in The Far East particularly in countries such as China and Taiwan. 3. Global sourcing can lead to difficulties when dealing with foreign currencies. Exchange rate fluctuations often impact the actual price paid for parts, 4. Logistics and more importantly the transportation of parts due to the availability and reliability of freight forwarders although most major international freight companies including BAX Global, Danzas and Schenker have all established local offices and hubs on a worldwide basis. Many major corporations have successfully implemented global sourcing strategies and these include: Motorola, IBM, Volkswagen and Dell. 3. E-Commerce approach to procurement. Technological advancement in the field of information technology coupled with the growth of the Internet and particularly The World Wide Web has led to many companies shifting away from paper based, people intensive purchasing processes to electronic buying methods. It is assumed that J.R. Electronics have had little or no exposure to e-commerce and are not fully aware of the potential benefits to be gained by adopting this strategy. The benefits of e-commerce do not come without a cost. There is the initial investment required to purchase the necessary hardware and software. The implementation process requires substantial resource to revise the internal business processes that will include system integration and employee training. J.R. Electronics may wish to hire an I.T. consultant who is fully conversant in the installation of a web based system to ensure that every aspect of the project is planned thoroughly in advance of the implementation. It is also critical that senior management of the company communicate these changes effectively as employees generally feel threatened with the introduction of new technology. Advantages of E-commerce * Cost reduction is achieved as efficiency improves within the purchasing function. Order processing times and costs are reduced considerably. J.R. Electronics may chose to implement an Electronic Data Interchange (EDI). This system if implemented can integrate the company to specific suppliers and automate the parts ordering process, order status reporting and invoicing through electronic transmission. * Due to the transparency of e-commerce it is possible to consider a large number of different suppliers quickly taking into account both price and lead-time. New or alternative suppliers can be found quickly. E-commerce is available 7 days per week 24 hours a day. * There a number of parts brokers who utilise the world wide web to sell various parts and services. Goodrich Aerospace based at Prestwick frequently utilise e-commerce to source suppliers and are members of the Inventory Locator Service (I.L.S.), a favoured parts search medium for aerospace companies. * Competitive bidding or E-auctions on the Internet has become very popular over the last few years. Companies that adopt this approach to procurement effectively tender their requirement on the Internet and potential suppliers bid against each other to win the business. * Communication with suppliers is improved. Utilising electronic mail (e-mail) would enable J.R. Electronics to send and receive information from the supply chain quicker, eliminating the need for time consuming letters. Potential Disadvantages of E-commerce * Costs and benefits can be hard to quantify and therefore confusion can be created within the supply chain. * Purchasing professionals must be properly trained. This takes considerable effort, time and money. J.R. Electronics may have to recruit specialist procurement personnel who are already experienced in e-commerce. * Employees and current suppliers may be resistant to change, as they are often comfortable using their more traditional methods of phoning, faxing and meetings. * International e-commerce can be difficult due to currency differences, import and export restrictions and legal implications. As J.R. Electronics begin to realise the full potential of e-commerce their supply chain will become more efficient and integrated with both their suppliers and their customers. The positive implications will soon outweigh the negatives. Adopting a more lean or agile approach to procurement. Lean and agile procurement are two different yet related aspects to supply management. The Collins English dictionary defines lean as lacking fat; thin or meagre whereas agile is described as nimble or quick. Both lean and agile approaches to supply management require high levels of product quality. Lead times must be minimised from the point that a customer order is received until it is fulfilled. Lead-time reduction in a lean process must be achieved as by definition excessive lead-times is waste and a lean process demands the elimination of all waste. Agile supply chains seek to operate to customer demand as opposed to forecasting and promote the free flow of information with its partners.

Crm in Fast Food Industry Essay Example

Crm in Fast Food Industry Essay Example Crm in Fast Food Industry Essay Crm in Fast Food Industry Essay Institute of Management, Nirma University, Ahmedabad SERVICE MARKETING Project Proposal on â€Å"Customer Relation Management Practices in the Indian Fast Food Industry† Submitted To: Prof. Ashwini Awasthi Submitted by: Meghna Mavani (091227) 1 Project Title: Customer relation management practices in the Indian Fast-Food Industry. Introduction to the topic: Relationship marketing is emerging as the core marketing activity for businesses operating in fiercely competitive environments. On average, businesses spend six times more to acquire customers than they do to keep them. Therefore, many firms are now paying more attention to their relationships with existing customers to retain them and increase their share of customer? s purchases. Customer Relationship Management is a process or methodology used to learn more about customers needs and behaviors in order to develop stronger relationships with them. CRM is a broadly recognized, widely-implemented strategy for managing a company? s interactions with customers, clients and sales prospects. It involves using technology to organize, automate, and synchronize business processes. The overall goals are to find, attract, and win new clients, nurture and retain those the company already has, entice former clients back into the fold, and reduce the costs of marketing and client service. Customer relationship management describes a company-wide business strategy including customer-interface departments as well as other departments. CRM or customer relationship management is a system of processes which businesses use to rganize and streamline customer service, give sales staff the customer information they need to achieve higher closure rate, optimize marketing and sales efforts, and help to increase the customer base and revenues. Rationale of the project: ? Customer Relationship Management is a process or methodology used to learn more about customers needs and behaviors in order to develop stronger relationships with them. CRM is a broadly recognized, widely-implemented strat egy for managing a company? s interactions with customers, clients and sales prospects. Hence a detailed 2 understanding of the various trends of CRM being followed currently would be of great importance to the going-to-be-managers. After all, good customer relationships are at the heart of business success. ? CRM involves all the functions of an organization. The idea of CRM is that it helps businesses use technology and human resources to gain insight into the behavior of customers and the value of those customers. Hence a detailed study of such a widespread initiative carried out by several global organizations would create a deep managerial insight. Moreover the entire reason for taking up the Indian Fast-Food Industry as my project topic is that with the rapidly growing middle class population and changing lifestyle, India is blessed with one of the fastest growing fast food markets in the world. The Indian fast food market is growing at an annual rate of 25-30%. Almost all the world? s big fast food brands have succeeded in making their presence felt in the countr y and most of them are posting appreciable growth. ? Also, all the popular fast food chains have chalked out massive plans for expanding their business and presence throughout the country. Foreign fast food chains are aggressively increasing their presence in the country. ? Another important reason that makes this industry worth studying is that, though this industry has witnessed a robust growth, there is still a huge underpenetrated market in the tier-II and III cities as mostly these fast-food chains are concentrating on the metro cities in India. 3 Literature Review: The innovation decision process model of Rogers (1995) was adopted in this study because CRM is considered an innovative management strategy. Rogers defines innovation as â€Å"ideas, action programs, or objects appealing as new things to individuals or organizations. † The innovation decision process has five stages: knowledge, persuasion, decision, implementation, and confirmation. In the knowledge stage, companies recognize an innovation and its functions. In the persuasion stage, the firm needs to be convinced that an innovation will bring benefits and competitive advantages, so it begins searching for information about the innovation, such as its costs and benefits. Organizational characteristics, such as the size of the firm and its external business environment, are influential. The decision stage occurs when the firm decides to adopt, reject, or postpone the innovation. In the implementation stage, the firm puts the innovation to use to achieve its objectives. In the confirmation stage, the firm decides whether to continue or discontinue adoption of the innovation. Recently, consumers needs and purchase patterns have changed dramatically. To meet various needs, companies tend to adopt differentiated and customer-oriented marketing strategies to gain competitive advantage. Customer Relationship Management (CRM) is one specific example, adopted to create and manage relationships with customers more effectively through the detailed and accurate analysis of consumer data using various information technologies. Improved relationships with consumers can lead to greater customer loyalty, retention, and profitability. Although the importance of CRM as a successful strategic approach since the 1990s has been widely recognized, there is no consistent definition of it. According to Swift (2001), CRM is â€Å"an enterprise approach to understanding and influencing customer behavior through meaningful communications in order to improve customer acquisition, customer retention, customer loyalty, and customer profitability. † Kincaid (2003) defines CRM as â€Å"the strategic use of information, processes, technology, and people to manage the customers relationship with the company across the whole customer life cycle. According to Ko et al. (2004), CRM is also defined as the integrated customer management strategy of a firm to efficiently manage customers by providing customized goods and services and maximizing customers lifetime values. 4 The challenge for an organization as also highlighted by Peppard (2000) is to move to a situation where the customer starts buying from you rather than being sold to. This new mantra focuses entirely on the customer, and how to provide customer value in the form of tailoring services or products to meet their requirements. Researchers have identified a variety of technologies related to CRM which include: ? ? ? ? ? ? ? ? ? ? product development through customer DB analysis product development through customer involvement development of customized products customer mileage reward programs real-time customer services managing customer loyalty managing customer complaints developing member-only access to website customer database development customer categorization based on spending The main conclusions to be drawn from the existing literatures are: ? xisting research has a strong focus on the three particular areas of: effects of customer satisfaction of CRM, customer retention and profit management, and effects of CRM technique on performance; ? ? ? ? there remains debate on whether or not relationship marketing can be extended to consumer markets with firms having a relationship orientation then implementing CRM; conceptually, sequential effects from CRM implementation to enhanced financial performance are expected, but have not been explored; the research stream in Japan has focused on techniques of data analysis and data mining aspects of CRM Most systems and processes in this information technology (IT) driven era have some form of hitech interface in transforming inputs to outputs. The restaurant industry is no different, in that IT has played some role in changing a customer? s dining experience over the years- the way in 5 which the meal is prepared, the speed at which it is delivered, the way an order is received, just to name a few. With the advent of new technology and its impact on restaurant operations, one would believe that most firms in the restaurant industry would be IT oriented in the production and delivery of goods and services. Specifically, the study addresses three questions: (1) How do full-service restaurant operators generally view the impact of IT? (2) Is there a difference between full-service chain and independent restaurant firms in the adoption, utilization, and implementation of such technology? (3) What are the reasons some chain and/or independent restaurant firms choose not to invest in IT, while others do and what are the implications? The paper first explores why technology matters and the IT-related trends in the restaurant industry followed by a description of the case study approach and the methodology used in this study. Findings from the restaurants used in the case study ensue, followed by propositions, implications and recommendations while ending with limitations and conclusions. Before exploring each topic, it is essential to state that technology in this paper is referred to as IT, which is defined as „„the development, installation, and implementation of computer systems and applications ? Customer feed-back mechanisms. Industry trends indicate that specific areas being targeted by some restaurants firms include aggressive solicitation of feedback from customers regarding perception of restaurant performance. To some extent, „„comment cards and „„mystery shoppers are being slowly replaced by customer tracking tools which measure the needs of all customers (Hayes, 2002). Such a process includes analysis of online surveys completed by restaurant customers (Liddle, 2001). ? Management of repeat business. Another area targeted by restaurants for innovation through IT is the attempt to increase repeat business. One such area is the use of online reservation systems (Ruggless, 2003). 6 ? Management of marketing and service. Closely connected to frequent diner programs are advances in IT that allow restaurants to gather and store specific information about its customers, which comes mostly from comment cards/online surveys and POS data (Prewitt, 1997). By knowing customers? likes and dislikes and their consumption patterns, firms are able to position their product/service offerings more effectively while being able to offer them special deals. Another area that restaurants look at when trying to improve performance is the speed of service. Restaurant firms, both chains and independents, have started to use handheld devices that allow servers to remotely notify management of a dirty table, so that it can be cleaned and re-set faster for another set of patrons as well as place orders in the kitchen. ? IT and restaurant operations management. The use of technology to improve performance can be seen in use of integrated business solution software to help run restaurants operations. A process refers to a collection of tasks or activities that together result in a desired business outcome. Stated differently, a business process refers to a group of activities that convert organizational inputs (e. g. , human resources) into desired outputs (e. g. , successful new products). Given that groups of tasks can be subdivided or aggregated into lower and higher level processes, the specific nature (i. e. , inputs and outputs) of a business process depends on the level of aggregation used to define it. For instance, define CRM as a macrolevel (i. e. , highly aggregated) process that subsumes numerous subprocesses, such as prospect identification and customer knowledge creation.

Jackson Surname Meaning and Origin

Jackson Surname Meaning and Origin The  patronymic surname  Jackson means son of Jack. The personal/given name Jack may have derived from one of several sources: Derived from the name Jackin, a medieval diminutive of the name John, which is an  English form of  Iohannes, the Latin form of the Greek name  ÃŽâ„¢Ãâ€°ÃŽ ±ÃŽ ½ÃŽ ½ÃŽ ·Ãâ€šÃ‚  (Ioannes), itself derived from the Hebrew name  Ã—™×•Ö ¹Ã—â€"Ö ¸Ã—  Ã– ¸Ã—ŸÂ  (Yohanan),  meaning Jehovah has favored, or more loosely gift of God. See also the surname Johnson.Possibly a derivation of the Old French given name Jacque, the French form of the English name Jacob. The name derives from the Latin Jacobus which, in turn, derives from the  Hebrew personal name ×™Ö ·Ã— ¢Ã– ²Ã— §Ã– ¹Ã—‘  (Yaaqov). Surname Origin:  English, Scottish Alternate Surname Spellings:  JACKS Where Is the JACKSON Surname Found? According to  WorldNames public profiler, the Jackson surname is found in the greatest numbers in the United Kingdom and Australia. It is most prevalent in northern England, especially Cumbria county. The name is also popular in the United States, especially in the District of Columbia and the southeastern states of Alabama, Georgia, Mississippi, and Louisiana. Famous People with the Surname JACKSON Andrew Jackson - 7th President of the United StatesMichael Jackson - American pop singerAugustus Jackson - creator of several ice cream recipes and inventor of an improved method of manufacturing ice cream c. 1832.Quinton Rampage Jackson - American professional mixed martial arts fighterThomas Stonewall Jackson - Confederate general in the U.S. Civil WarConrad Feger Jackson -  Union Army general in the American Civil War Genealogy Resources for the Surname JACKSON 100 Most Common U.S. Surnames and Their MeaningsSmith, Johnson, Williams, Jones, Brown... Are you one of the millions of Americans sporting one of these top 100 common last names from the 2000 census? Jackson Family GenealogyA Web site dedicated to the descendants of Robert Jackson, who arrived in Massachusetts with his father circa 1630. Jackson Family Tree DNA ProjectRead biographies, check out DNA results, or submit your own DNA to learn more about your own Jackson ancestors. Jackson Family Genealogy ForumSearch this popular genealogy forum for the Jackson surname to find others who might be researching your ancestors, or post your own Jackson query. FamilySearch - JACKSON GenealogyExplore over 12 million historical records and lineage-linked family trees posted for the Jackson surname and its variations on this free website sponsored by the Church of Jesus Christ of Latter-day Saints. JACKSON Surname and Family Mailing ListsRootsWeb hosts several free mailing lists for researchers of the Jackson surname. DistantCousin.com - JACKSON Genealogy Family HistoryExplore free databases and genealogy links for the last name Jackson. The Jackson Genealogy and Family Tree PageBrowse genealogy records and links to genealogical and historical records for individuals with the Jackson surname from the website of Genealogy Today. References: Surname Meanings and Origins Cottle, Basil. Penguin Dictionary of Surnames. Baltimore, MD: Penguin Books, 1967. Menk, Lars. A Dictionary of German Jewish Surnames. Avotaynu, 2005. Beider, Alexander. A Dictionary of Jewish Surnames from Galicia. Avotaynu, 2004. Hanks, Patrick and Flavia Hodges. A Dictionary of Surnames. Oxford University Press, 1989. Hanks, Patrick. Dictionary of American Family Names. Oxford University Press, 2003. Smith, Elsdon C. American Surnames. Genealogical Publishing Company, 1997.