Bridgford Foods Essay Example for Free

Bridgford Foods EssayBridgford Foods is cognise as a small, publicly traded bon ton of the food industry. Clients of Bridgford Foods have a relatively high constituent(a) risk. The operation of the said industry is subject to various risks, such as adverse changes in the general economic conditions, the evolution of consumer preferences, nutritional and health-related concerns, the inspections done, including the processing run acrosss involved in the federal, state, and local products. The liability claims of consumer products and the risks associated with product tampering were also taken into c areful consideration. Further more than, several(prenominal) recalls made were associated with the recent outbreaks of illnesses among the meat and poultry products. Such greatly change the operating results and the financial position of the keep company. In addition to this, industry characteristics were related to the factors that affected the assessment of materials of Bridgfor d Foods Corporation. Since the industry was very competitive, price cutting would have its related effects on the revenue. Unfortunately, Bridgford Foods was not part of the leading industries in the country.In cost of performance, the products of the said company were not as competitive as those of the leaders in the industry. In addition to this, the company is not as profitable and as financially stable as those of the major companies in the industry. For the year 2007, Bridgford Food had a abate in its total sales, as compared to the other years. In a report issued, the company stated that, sales for the first quarter ended in January 25, 2008, and was an estimated $1,319,000. Prior to the first twelve weeks of the fiscal year, there was a decrease in the total, which was 3.1%.The industry factors result in an increased assessment of the risk material misstatement of BridgFord Foods Corporation. This lead to a lower determination of signal detection risk and more substantive tests. Estimations and assumptions were particularly important in the assessment of risks for material misstatement of Johnson, Inc. The management made certain estimations and assumptions that affected the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the era of the financial statements.In addition to this, reported revenues and expenses during the respective reporting periods were also given much considerations. The amounts estimated related to liabilities for workers compensation, employee healthcare and pension benefits are especially subjected. The inherent risk relating to the accuracy of an taradiddle balance that involves a high degree of management judgment, or that is difficult to compute, is evaluated as high. Moreover, the credit risk of the company was diversify across a broad range clients and geographic regions.Losses incurred due to credit risks have recently been immaterial, with the client maintaining the cash balances at financial institutions. At times, these clients exceed the amounts insured by the Federal Deposit Insurance Corporation of $100 million per institution. However, the clients have significant amounts receivable amounts with few of the well known clients, although historically secure, could also be subject to material risk when the operations of these clients begin to deteriorate.Regardless of such dilemma, the members of the Bridgford family can still exercise significant control over the company. This is due to the fact that the family owns approximately 77% in stocks of the company, making them own more than three fourths of the whole company. On top of this, three members of the Bridgford family were members of the jury of Directors. This gives the members of the Bridgford family the ability to exert substantial influence and power over the management and affairs of the company.This include matters requiring the action of shareholders. the amendment to by-laws, the el ection and removal of directors, merger proposals, consolidation or sale of all or substantially all of the assets and other corporate transactions. The Bridgford family members who own majority of the stocks dominate in the decision making of the company. This factor led to a high risk assessment of material misstatement fore there were no reviews regarding important decisions and actions taken.However, these should be taken in the best interest of the company and its stockholders. The inherent limitations included the realities of faulty judgments and decision makings, including the breakdowns that can occur due to simple errors and mistakes. Additionally, controls can be circumvented by the individual acts of some people, by connivance of two or more people, or by management override of the control. All the above factors increased inherent risk for a particular account balance assertion, making the evaluation relatively high.In the audit planning stage, where the evaluation of i nherent risk for an account balance assertion is high, auditors regard this as a significant risk requiring special audit attention. The control risk of Bridgford foods is low. The client maintains and evaluates a trunk of inseparable accounting controls, and a program of internal auditing designed to provide reasonable assurance. In so doing, the companys assets are protected and transactions were performed in accordance with the proper authorization, and were recorded accordingly.This system of internal accounting control is continually reviewed and modified in response to evolving business conditions and operations and to recommendations made by the independent registered public accounting soused and internal auditor. The client also has an established a code of conduct. Furthermore, the audit committee is composed of independent directors who are not officers or employees of the client, and do not have other relationships that impair independence. The audit committees also em ploy two financial experts.They are effective in overseeing the quality of controls and the management of fraud. From those mentioned, I think that the accounting and internal control systems provide reasonable assurance that assets are safeguarded and financial information is reliable, with the overall control risk low. In general, the design and slaying of internal control are considered effective. The increase in the risk of material misstatement due to these factors will result in a lower determination of detection risk and an increase in the scope of the auditors work.Pre-audit engagement risk is significantly and positively associated with the estimated level of discretionary accruals reported in audited financial statements. As higher levels of discretionary accruals have been shown to be associated with higher risk of post-audit litigation, it appears that rather than taking actions that result in higher-risk clients reporting less aggressive discretionary accruals, auditor s instead are accepting a higher post-audit risk for these clients.

Automotive industry Essay Example for Free

Automotive industry EssayMaruti Suzuki India Limited generally famous as Maruti is an ancillary participation of the Japanese automaker Suzuki Motor Corporation. It has a commercialize share of 44.9% of the Indian passenger car market as of March 2011. Maruti 800 and Alto are their first appearance level cars. Ritz, A-Star, Swift, Wagon-R, Estilo are their hatch back models. DZire SX4 are Marutis Sedan class models. Eeco and Ertiga are Marutis C segment class. Grand Vitara is their Sports Utility fomite which is directly imported from Japan. Maruti is the 1st society in India to turn out and sell more than a million cars. Maruti Udyog Limited is renamed as Maruti Suzuki India Ltd on seventeenth September 2007. Maruti companies head quarter is in Nelson Mandela Road, NewDelhi.The company was customary in 1989 however the actual harvest-homeion commenced in 1983 with their Maruti 800. Till 2004 Maruti 800 was the Indias largest change packed in car ever, since it was launche d in 1983. More than a million units of this car have been sold worldwide so far. Maruti imports diesel motor motor engines for all their diesel cars from Fiat motors.Marutis manufacturing plants are located at two amenities Gurgoan and Manesar south of Delhi. Gurgoan plants installed capacity is of 9, 00,000 units per annum and Manesar plant with a capacity of 5, 00,000 units per year and a diesel plant with an annual capacity of 1, 00,000 engines and transmissions.Maruti has 933 dealerships crossways 666 towns and cities in all states and union territories of India with 2,946 service stations (inclusive of dealer workshops and Maruti Autho startd Service Stations) in 1,395 towns and cities all e realwhere India. It has 30 Express Service Stations on 30 National gameyways across 1,314 cities in India. Service is a major source of proceeds to the company. virtually of the service stations help many stranded vehicles on the highways by sending across their repair man to the vehicl e.1.2 Definition Of MarketingAccording to American Marketing Association (AMA) Board of Directors, Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have care for of customers, clients, partners, and society at large.Dr. Philip Kotler defines, marketing as the science and art of exploring, creating, and delivering value to revenge the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is overt of serving best and it designs and promotes the appropriate products and services.1.3 Customer perceive cherishCustomer Perceived Value (CPV) is the distinction between the prospective customers paygrade of all the acquires and all the costs of an offering and the perceived alternatives.1.3.1 Customer Perceived Value of Maruti Suzuki with reference to Holbrook Model Typology of Customer ValueHolbrook (1994 p. 27) asserted Value is an interactive relativistic orientation experience. Based on this Holbrook proposed a typology of consumer value having three different dimensionsExtrinsic/Intrinsic The consumer perceives value in utilize or owning a product or services as a means to and end versus an end in itself. Self-oriented/Other-oriented The consumer perceives value for the consumers own benefit as against the benefit of others. Active/ oxidizable The customer perceives value through direct use of an object as against apprehending, appreciating or responding to an object.These three dimensions give rise to eight types of customer valueExtrinsicIntrinsicSelf-orientedActiveEfficiencyPlayReactiveExcellenceAestheticsOther-orientedActiveStatusEthicsReactiveEsteemSpiritualityThus for a company like Maruti it would be very apt to use this model considering that the products that Maruti Suzuki has to offer fits in qu ite well in different dimensions as presented in the typology.1.3.2 Customer Perceived Value of Maruti Suzuki with reference to Monroe ModelMonroe (1990, p. 46) observes, Buyers perceptions of value represent a trade-off between the tone of voice or benefits they perceive in the product relative to the hand they perceived by paying the priceMonroe has expressed the concept of customer perceived value as the ratio between perceived benefits and perceived sacrificeCustomer Perceived Value= Perceived Benefits________________Perceived SacrificeAccording to Monroe perceived benefits has a positive influence on consumers perception of product value at first, and later on it may influence consumers purchase intentions.In contrast, perceived sacrifice first has a negative influence on consumers perception of product value, and later on it may influence consumers purchase intentions.PerceivedBenefitsHere the benefits take customers desired value, e.g., whole step (Monroe, 1990). Sacrifi ces, on the other hand, include monetary (price) (Dodds, et al., 1991) and non-monetary (time, effort) (Cronin, et al., 2000) considerations. Therefore, value includes three key factors (1) tone, (2) price, and (3) convenience (Lemon, et al., 2001), where convenience is the time and effort expended by the customers (Cronin, et al., 2000)In context to Maruti, the customers desired value is the quality of the car and services rendered there off.Whereas the sacrifices include the price of the car, maintenance cost, etc.1.3.3 Customer Perceived Value of Maruti with reference to Woodruffs ModelA Value-Hierarchy ModelWoodruff (1997) proposed that Customer value is a customers perceived preference for and evaluation of those product attributes, attribute performances and consequences arising from use that facilities achieving the customer goals and purposes in use situations. (p146) Accordingly the customer value hierarchy suggests that customers conceive of desired value in a means-end w ay.Basically it can be known as a system to run businesses throughout the country by understanding customers goal and satisfaction over it (Lister, n.d.)Desired Customer Customer Satisfaction Value with Received ValueCustomers Goals andPurposesDesired Consequences in office SituationsDesired Product Attributes and Attribute PreferencesStarting at the bottom of the hierarchy, customers start to think about products as bundles of specific attributes and attribute performances.While purchasing and development a product they form desire or preferences for a certain attribute based on their ability to facilitate achieving desired consequence experiences. looking down the hierarchy from the top, customers use goals and preferences to attach importance to consequences.Also the customers use situation plays a critical role in evaluation as well as in desires.Maruti Suzuki, being an automobile manufacturing company faces a lot of contestation. Thus such a model would be very essential fo r their company.1.3.4 Consumer perceived value of Maruti with reference to Zeithaml ModelMeans-End ModelAn adaptation of a model first proposed by Dodds and Monroe (1985), Zeithaml with her study in 1988 about price, quality and value towards consumers defined this into the concept of Means-End model.(Source Means-End Model, Zeithaml, 1988)2. Value overtureDefinition of Value PropositionA business or marketing speech that summarizes why a customer should buy an item for consumption or use a service. This education should prove apotential buyer that one meticulous product or service will add more value or get out solve a problem than other like offerings.Companies use this statement to target customers who will benefit most from using the companys products, and this helps maintain an economic moat. The ideal value proposition is concise and appeals to the customers strongest decision-making drivers. Companies pay a high price when customers lose slight of the companys value propos ition.2.1 Value Proposition of Maruti SuzukiWay of Life is the Value Proposition of Maruti Suzuki. As India is a country where comfort is vital while travelling, Maruti has always been the first option. As mileage is a big criterion with cars for Indians, Suzuki proves to be better than quite a few other names in cars as its vehicles have a higher mileage for example Swift gives 22km/ltr while if you comparison a Honda City gives around 12-13 km/litre.2.2 Mission Vision of Maruti SuzukiThe Company MissionTo make available a wide range of modern, high quality fuel efficient vehicles in order to meet the need of different customers, both in domestic and export markets.The Company VisionWe must be an internationally competitive company in terms of our products and services. We must retain our leadership in India and should also aspire to be among the global players.Their focus is onBuilding a continuously improving organization adaptable to quick changesProviding value and satisfacti on to the customerAligning and fully involving all our employees, suppliers and dealers to face competition Maximising Shareholders value2.3 Target MarketDefinition of target market A specific group of consumers at which a company aims its products and services.Maruti Suzuki has adopted a focused approach and wisely created segments within a large market to promote their cars. Lower Income Group- Maruti 800, AltoMiddle Income Group- Wagon-R, Swift, Swift DZire, RitzHigh Income Group- Maruti Suzuki Kizashi, Suzuki Grand VitaraSuzuki Grand Vitara would obviously have no takers amongst the lower income group.2.4 Market AttractivenessMarket attractiveness is a term that describes the profit possibilities available in a given market or industry. The more attractive a market is, the higher the potential profits.Companies in the process of considering entires into new industries or markets adopt a number of analyses to determine whether or not such a move would be good for the business. O ne such analysis is a market attractiveness analysis, conducted to find out if entering a particular market or industry would be profitable and how much the company could potentially earn.The automobile industry is a huge and diversified market. It can be divided into different segments each satisfying different needs of the customers. These different segments can be classified as SUVs, Sedans, Hatchbacks, C segments etc.This gives an automobile company ample amount of opportunities. Maruti Suzukiis prevalent in all of these segments and is considered as one of the premium brands in all of these segments.In this very market other than the different segments of automobiles also is the service rendered by the company to the customers.Thus the market is as attractive as one would hope for giving Maruti Suzuki a chance to make the most of it.

Ethics in Art and Science

Ethics in Art and ScienceEthical judgments limit the methods available for the production of experience in art and science refers to the restrictions caused in the two fields in researching and creation collectable to the judgments caused by ethics upon the methods. It states that the production of knowledge is limited due to the good restrictions imposed in its creation. Science research and certain types of art have been banned due to them being considered wrong in nature, without any c one timeive for their contribution in the progress of the nation in science and art.Ethics refer to the standard of morals that argon acceptable in society. They define beneficial from wrong according to what people deem appropriate. Ethics help people in getting a clear understanding of what is considered antisocial. They make up an infrared rule book that sets conditions as to what one should and shouldnt do it is a universally accepted scheme of behavior and allowances. Morals are the ch aracters or conducts that are considered good or evil. Ethical morality means adhering to what is right and avoiding the things that are usually considered unacceptable. Morals and ethics help one become a conk out human and are a boon in most ways they are taught to all children from a young age and anyone that doesnt imbibe them is frowned upon and avoided.Our mixed bag of actions into ethical, justifies acceptable and unethical, unacceptable and classifications unlawful constraints and obstructs the growth of science and art and act as a bane in many ways. To further emphasize these ethics certain activities are given harsh names. For example icon of public property, comm hardly called graffiti, is considered vandalism. Not only does it add art and color to normal jejune placed but it also expresses the thoughts of the citizens ,many quantifys it depicts the past history and major events, it gives a deeper view and also a chance for unclaimed artists to express themselves a nd event their capabilities. If people would stop judging vandalism they would see the hidden beauty and talent. Doing research on animals is very often tagged as abusing the animals, when they are alone being used for experiments to gain more knowledge about them.Egon Shile once said to restrict the artist is a crime. It is to murder germinating life however very much one considers a piece of art morally unjustified one cannot. Impose restrictions upon it as that would truly be murderous. To not appreciate it is a varied thing, but to obstruct it would be a crime. Art is a means of communication, expression and knowledge, it cannot be barred.Peoples mindsets and social pressures of what is ethical obstruct the proficiency of art. Shakespeare would still be making gloves like his father had it not been for his stubbornness. He was headstrong and determined to follow his heart and write, as was his passion. In his time, he had to smell lots of problems as writing was not consid ered to be valuable and people usually carried on the job of their forefathers from generations before, for Shakespeare to dismiss those traditions and follow his heart caused huge problems, it was considered unethical for him to go against those traditions and he thus had to face many difficulties. Had Shakespeare succumbed to these pressures and continued in his fathers business as would have been appropriate according to the norms of ethical society, the world would never have got to witness such a great playwright. He would be another common glove maker who lived and died unacknowledged and without create any difference in the world of art and literature.In the time of Michelangelo, his paintings were foremost disapproved due to the nudity. Peoples ideals against nudity in drawings cause them to caper blind towards the beauty and the feelings expressed in it. They realized that he was salaried his models which were in the main prostitutes and as they considered prostitution sinful, according to them his usage of them as his muse and paying them to pose naked meant his paintings would be having the figures of prostitutes which would corrupt them this mindset caused him to face many problems in his earlier days. His paintings had major difficulties and being sold, he almost gave up painting due to this, had he done so the Sistine Chapel may never be as famous and honored as it is today. Ethics almost fly-by-night an artist into giving up his pleasure due to the hardships and disapproval they aroused. His sculptures too were considered evil in the beginning as they expressed holy scenes in a different way and interpreted the Bible differently and unusually unlike the traditional method. His first Madonna and Son was highly insulted while it was still in the process of being made because it was nothing like how the usual sculptures were, but his unusualness and due to ending the rules of tradition hat bound him, he is now cognise as a world famous scul ptor of the David and his Madonna and Child sculptures are well renowned.The field of science requires people to be broadminded and willing to reduce risks. To be able to invent and discover new things scientists require people to be open to new methods of experimenting. To explore the world of science is t break the boundaries of ethic, logic and common things. It is to have a vision and find method to prove it. It requires making theories and looking for ways to prove them. To make discoveries one involve to break away from the commonly accepted beliefs and methods. Thus it is important for the scientists to not be bound by ethics and morals, to progress in the field and issue more accurate and newer information they need to be able to experiment in any way they please without having to seek acceptance.In Michelangelos time post mortems of bodies was illegal and one could be arrested and executed for the same. He was determined and had to hide and cut up bodies to explore them and see the organs. He was probably amongst the first people to hold a heart and brain in his hand. It was against the law and unethical but it was necessary for him to do so to make his sculptures more down-to-earth and authentic. His breaking this ethical law resulted in his growth of knowledge about the human body. He was able to make much superior sculpture once he was able to determine the organs in the body as they helped him give the correct volume and dimension of the body. His discovery expanded his knowledge in science would not have been possible due to the ethical conduct of that era, and he would have never got to explore the human system had he not broken this conduct.Science and art can progress much further if they are not limited by ethics and morals, certain things must be excused from the usual norms of society as that will be the only way that we will have any progression or there could be mere stagnation in the fields of art and science. Artists must be allowe d to break the barriers of ethics and express themselves freely as their works are mainly a source of reflection of todays society.Science on the other hand requires a certain amount of freedom and exclusion from the usual ethical norms of society, for science to progress and discoveries to be made, certain allowances and concessions must be given. For humans to know and understand animals better they must be allowed to conduct experiments and test them to decipher their thought process and lifestyle and to understand their reactions and behavior to certain situations. Science must be free from the tethers of human morals and ethics and it must not be judged and obstructed. Limiting and restraining the field of science will only cause us to be ignorant and uninformed about the world.Ethics are needed to provide a certain safety and to an extent, a united environment without controversies, but it must not interfere with the progress of humanity and studies. It would only cause probl ems in the future, and if not causing problems it would definitely not do anything worthwhile n contributiong towards providing the solutions.

Meaningfulness of Brand History Concept in Brand Management

heartfulness of injury History Concept in Brand ManagementGianluca Lucchin ID3615402A blemish has to have a history1. INTRODUCTIONIm presenting my arguments to stir that a stigma actually need a history to be successful in nowadays dynamic scenario and to survive in the long term. starting time Im dismissal to give basic definitions to work on, trying to define mark off history by a theoretical point of view then Im going to analyze those theories implications in order to sustain my arguments finally Im going to use real-life cases in nowadays market to give recommendations and draw my conclusions.2. DEFINITIONS TO STARTTo determine whether or not a fall guy needs a history as an improver, is key to identify the key elements to work on.A definition of brand is a good starting point, since the word itself could be referred to many different themes and meanings. This will surely help to restrict the field of study.For Gardner and Levys (1955) A brand name is more than than th e label employed to differentiate among the manufacturers of a product It is a building complex symbol that represents a variety of ideas and attributes. It tells the consumers many thing, not only by the instruction it sounds (and the literal meaning if it has wizard) but, more important, via the body of associations it has built up and acquired as a public object over a period of time.Following this logical system the brand could also be conceptualized as a bundle of tangible and intangible features which increase the attractiveness of a product beyond its functional regard as (Farquhar, 1989 Park and Srinivasan, 1994).History in this case could play a crucial role in binding tangible and intangible features by using a continuous chronological record of important events(Oxford Dictionaries) allowing a brand or a company, to recall a complex set of meanings, esteems and symbols connected to origins, yesteryear performances and mythologized episodes.This process of recalling th e non current could be beneficial for both firm perspective and consumer perspective and its connected to the concept of Brand Heritage.3. BRAND HISTORY AND BRAND inheritanceThe word inheritance is generally associated with inheritance something transferred from one generation to another. As a concept, therefore, it works as a carrier of historical honours from the past (Nuryanti, 1996).On the surface the difference between inheritance and history may seem minor. However, if history may explore and explain a past that is faraway away, heritage clarifies and makes that same past pertinent for contemporary contexts and purposes.In the present time characterized by high dynamics, uncertainty, and massive consumer disorientation , nodes tend to prefer brands with a heritage a brand infused with a heritage stands for authenticity, credibility, and trust, and can provide leverage for a brand, e fussyly in global markets (Aaker 1996 George 2004).The brand heritage fabricate can there fore be defined as () a dimension of a brands identity gear up in its track record, longevity, core c are fors, use of symbols and peculiarly in an organisational belief that its history is important (Urde et al. 2007). Based on the definition of brand heritage and its distinction from related constructs, it is useful to consider five major elements that indicate whether and to what extent heritage is present or potentially found in a brand (Urde, Greyser, and Balmer 2007, p. 9).The element track record is related to the completed performance that the brand or the company has been connected with, such as certain honours and promises over time (Urde 1997).The second element of brand heritage, longevity, is of special importance for large multigenerational family-owned companies reflecting sustainability and consistency (Urde, Greyser, and Balmer 2007, p. 9).Core values encompass the basic values the brand is associated with. Like a promise or covenant in external communicatio n, these values underline and help to define corporate strategy and are an integral part of the brand identity (Kapferer 2004 Lencioni 2002 Urde 1994).The use of symbols is related to watchword or designs and illustrates the brands core meaning and ideas (Urde, Greyser, and Balmer 2007, p. 10).The fifth component asks whether history is important to identity. Companies have to sense their own history as being crucially important to their identity. It is absolutely essential that they know who and what they are. This understanding should also be a key part of communication, advertising, and the marketing mix (Brown, Kozinets, and Sherry 2003b).3.1 TYPE OF HERITAGEReferring to the work of the sociologist George Herbert Mead roughly the impact of past on individuals understanding of reality, and following the research of Bradford T. Hudson and John M.T. Balmer (2013) its possible to distinct between four different forms of Heritage.Structural heritageThe temperament of the present d epends on the outcome of events that occurred in the past, which cannot be altered. Structural heritage involves a succession of causation from past to present.*Brands that use structural heritage get hold of transcendence and differentiation referring to a pedigree connecting the current company to the moment of origination and the people instrumental in establishing the company. Practical workouts of structural heritage stand up within many industries and sectors. For instance, some companies refer to founding datesImplied heritageIf a company is vibrant and respected in the present, then it must have existed and essential during the past in a manner that explains its current status. Heritage is ex stired by displaying current attributes that imply historical antecedents, by demonstrating congruence between current attributes and historical attributes, or by describing patterns of accomplishment across time. This dimension may also be indicated by references to the age of a b rand.*Claims of differentiation or superiority by the firm are validated through statements of longevity, or demonstrations of continuity between past and present.Reconstructed heritageThis dimension suggests that our relationship to the past is instructive and our understanding of prior events is enhanced through contemplation.*Claims of differentiation or superiority by the firm are validated by the familiar or evocative character of the brand or its associated products. A commonly cited example of reconstructed heritage is the new Volkswagen Beetle, which was introduced in 1998 with design elements reminiscent of the original Beetle that became a cultural icon during the 1960s.Mythical heritageMythical heritage refers to pasts that are partly or wholly fictitious, and which facilitate the projection or escape of consumers into notional worlds that relate to the brand. Mythical heritage is often expressed through fantasy or illusion, especially within communications narratives or the design of environments and products.*Claims of differentiation or superiority by the firm are validated by the archetypal, universal or quintessential nature of brand attributes.The reason companies with heritage should use it, is to fruit advantage of differentiation that is valu fitting for the customer/consumer and other stakeholders, distinctive for the brand, and difficult to imitate for the competitors. Heritage can provide a basis for distinctiveness in positioning, which can generate competitive advantage, e.g. translating into higher prices and margins, and retaining customers to whom heritage is meaningful.3.2 BRAND HERITAGE AND EFFECTS ON CUSTOMER VALUEA brand with a heritage creates and confirms expectations about next behavior to stakeholder groups and makes a promise that the brand will continue to deliver on these commitments (e.g., Aaker 1996 George 2004 ). For this reason brand history along with brand heritage can add consumer perceived value and can mini mize consumers buying risk (Muehling and Sprott 2004 ).For the conceptualization of consumer value we refer to four major types of customer perceived value1)Economic valueThe economic dimension of customer value addresses direct monetary aspects such as price, resale price, discount, investment etc. It refers to the value of the product expressed in dollars and cents, to what is given up or sacrificed to obtain a product (e.g., Ahtola 1984 Chapman 1986 Mazumdar 1986 Monroe and Krishnan 1985 ).Functional valueThe functional dimension of customer value represents the core benefit and basic utilities such as e.g. the quality, the uniqueness, the usability, the reliability, and durability of a certain product (Sheth et al. 1991 ).Affective valueThe affective dimension of customer value refers to the experiences, feelings, and emotions a certain brand or product provides to the consumer in addition to its functional utility (Hirschman and Holbrook 1982 Sheth et al. 1991 , Westbrook a nd Oliver 1991 ).Social valueThe companionable dimension of customer value focuses a customers personal orientation towards a brand or product and addresses personal matters such as consumers self-concepts, self-worth or self-identity value (e.g., Vigneron and Johnson 2004 Hirschman and Holbrook 1982 ).Following the study and the complex empirical research of Thomas Wuestefeld et al(2012) in the article The impact of brand heritage on customer perceived value we can say that brand heritage construct (as a result of different factors want history, prestige, longevity, myth and credibility) overall affects Consumer Perceived Value (CPV), therefore could be a crucial asset to consider.4.EXAMPLES OF BRAND USING HERITAGE AS A COMPETITIVE ADVANTAGETangible examples of a proper use of brand history and brand heritage could be seen in both luxury market and mass market.4.1 KRAFT/CADBURYS ACQUISITION CASE STUDYA sophisticated understanding of the past is one of the most powerful tools we have for shaping the future.An actual implementation of brand history and brand heritage concepts could be seen in how Kraft Foods managed its 2010 integration of the British confectioner Cadbury. Cadburys management and its employees had somehow mounted resistance to the acquisition, fearing the loss of core values and a products quality. To help smooth the process, senior executives turned to Krafts long-established archives. Company archivists launched an intranet site, highborn Coming Together, that honored the parallel paths Kraft and Cadbury had taken. Poring over historical materials, they had found much evidence of shared values, and the presentation reinforced those common themes. In addition to the founders stories, the intranet site included interactive time lines, iconic advertising images, brief documentary videos, and dozens of detailed histories of owned branded products all designed to draw how leading Kraft and Cadbury brands had come to sit side by side on groce rs shelves. The same narrative took hold in other communications, from CEO speeches to press releases, and in employee training sessions. Kraft ended up integrating Cadbury more smoothly than any of its previous acquisitions. The history of the enterprise can instill a sense of identity and purpose and suggest the goals that will resonate (George Smith,Your Companys History as a Leadership Tool).4.2 COCA-COLA is really proud of its historyThe Coca-Cola story is a good one, even if we do say so ourselvesCoca-Cola, one of the most storied and iconic brand in the world definitely recurs to an implementation of brand heritage tools by referring to the company illustrious longevity and past performances in a nostalgic fashion. An example of this commitment to history could definitely be found on Coca-Cola website with many pages dedicated to the evolution of the brand itself. A pdf for the 125 years anniversary of Coca-Cola has been released, with lot of documents and pictures of logos , packaging and successful advertising during the ages. A relevant proof of appliance of brand heritage construct in Coca-Cola marketing mix, could be found in the smart use of symbols (the iconic bottle and the famous Coca-Cola font) and the reiteration of the affective value(being on the market for such a long time it bears nostalgic potential for every adult consumer).4.3 LOUIS VUITTON-The iconic traveling luggageLouis Vuitton is a well known apparel luxury brand. It puts enceinte emphasys on tradition as seen in the brand website rich in contents like old pictures and all sort of informations on the origins of the company itself. The starting point, the making of the iconic Louis Vuitton traveling luggage is used as tool of reference to the glorious past of the company itself and could be read as a clear example of reconstructed heritage. And plus, the promise of value connected to the purchase of those bags implies an increase of social perceived value for consumers as a form of self-actualization and distinction.4.4 BURBERRY-The invention of gabardine and the myth of the trench coatBurberry is another famous luxury fashion brand which use history, tradition and heritage as crucial assets in its marketing mix .Its main fashion house focuses on outerwear, fashion accessories, fragrances, sunglasses, and cosmetics.Established in 1856 by Thomas Burberry and originally focusing on the development of outdoor attire, the fashion house has moved on to the high fashion market create pattern-based scarves, trench coats, and other fashion accessories. Its distinctive check pattern has become one of its most widely copied trademarks. The brand itself can count on the progressive invention of gabardine, a breathable and waterproof fabric which somehow revolutionized rainwear. Burberry is most famous for its trench coat. Its coats were worn in the trenches of World War I by British soldiers, and for decades thereafter Burberry became so much a part of British cult ure that Queen Elizabeth II and the Prince of Wales have granted the company Royal Warrants.Thus, Burberry is the perfect example of a Heritage brand based on the implied heritage category the respectability and the glorious status showed in the present is the result of a great and honorable past (invention of gabardine + fact that trench coats were used during world war)5. CONCLUSION If lots of nowadays most successful brands are connected to the ever-innovating technology sector (think of Google, Apple, Amazon, Facebook etc) and dont rely too much on a long or mythicized history, long-standing brands combining both heritage and longevity are still able to deliver real value attaining strong competitive positions.If we observe the 2016 Global Best Brands report by Interbrand, we can see that 10 brands in the top15 are more than 50 years old and some of them are way older than that. Even if someone could argue that the success of a brand has pocketable to do with a brands age, we can still say that having long-term traditions and experiences in the business could help to stay relevant and competitive.The level of sophistication needed for a brand to maintain its competitive advantages is of course not to be underestimated, newness and innovation plays a strong role. But even if a brand needs to assume constantly to stay relevant, it also needs a center of gravity, a clear vision and a commitment to stay true to the core of its desoxyribonucleic acid (Rebecca Robins 2015)In conclusion we can say thatConsumers prefer brands with a history in order to be reassured and to fight purchasing uncertaintyBrand History is a key element in the implementation of Brand Heritage construct Brand Heritage boost the Consumer Perceived ValueA connection to the past is often required by a company to be successful and coherent in the present and to grow in the futureA brand (definitely) has to have a historyREFERENCESArticles and PapersChun-Tuan Chang Minh-Hsuan Tung (2016) I ntergenerational appeal in advertising impacts of brand-gender extension and brand history, in supranational journal of Advertising, 352, 345-361Vanisha Narsey Cristel Antonia Russell (2014). Behind the Revealed Brand Exploring the Brand Backstory Experience inConsumer Culture surmise. Published online 20 Aug 2014 297-323.Bradford T. Hudson John M.T. Balmer, (2013),Corporate heritage brands Meads theory of the past, in Corporate Communications An International Journal, Vol. 18 Iss 3 pp. 347 361Thomas Wuestefeld Nadine Hennigs Steffen Schmidt Klaus-Peter Wiedmann (2012) The impact of brand heritage on customer perceived value, in Der markt. International Journal of MarketingJohn T. jackfruit Jr. and George David Smith,(2012) Your Companys History as a Leadership Tool, in Harvard Business Review, December 2012Upendra Kumar Maurya* P. Mishra.(2012) What is a brand? A Perspective on Brand Meaning in European Journal of Business and Management. Vol 4, No.3, 2012Klaus-Peter Wiedmann , Nadine Hennigs , Steffen Schmidt Thomas Wuestefeld (2011) Drivers and Outcomes of Brand Heritage Consumers Perception of Heritage Brands in the Automotive Industry, in Journal of Marketing Theory and Practice, 192, 205-220Ulla Hakala Sonja Ltti Birgitta Sandberg, (2011),Operationalising brand heritage and cultural heritage, in Journal of Product Brand Management, Vol. 20 Iss 6 pp. 447 456Pozzi Daniele, The Invisible H does History has a place in Heritage? A proposal, in https//www.Researchgate.netUrde M, Greyser SA, Balmer JMT (2007) Corporate brands with a heritage. J Brand Manage 15(1)4-19BooksKeller L.K, (2013) Strategic Brand Management. Building, Measuring and Managing Brand Equity, publish by PearsonBaker M., Hart S. (2007) Product Strategy Management, Prentice hall, LondonWebsiteshttp//interbrand.com/views/legacy-brands-keeping-long-standing-brands-relevant-in-the-digital-age/http//www.theguardian.com/media-network/2015/oct/09/brands-relevant-digital-agehttp//interbra nd.com/best-brands/best-global-brands/2016/ranking/https//uk.burberry.com/our-history/http//www.burberryplc.com/about_burberry/company-historyhttp//it.louisvuitton.com/ita-it/la-maison/una-storia-leggendariahow-it-all-beganhttp//www.worldofcoca-cola.com/about-us/coca-cola-history/https//www.oxforddictionaries.com/http//www.coca-cola.co.uk/stories/from-1886-to-the-present-daythis-is-the-story-of-coca-colahttp//www.stern.nyu.edu/experience-stern/faculty-research/georgesmith-history-leadership

Generational Differences in the Workforce

Gene reasonable Differences in the WorkforceWorkforce in todays organisations fall into four broad categories and it has been well established that individuals growing up in unalike times has affected their determine, behaviours and viewpoints. These generational differences present a significant challenge for current organisations. This topic of Generational differences at model place has been immensely researched oer the past decade. There has been a spawning number of consulting tracks, magazine binds, academic literature produced and replicated in- come out to conclude these differences in perceived and developed values between four generations of hands (Lyons, Urick, Kuron, Schweitzer, 2015). Costanza Finkelstein (2015) reported that the evidence presented in majority of research about this topic is controversial and lacks the depth and rigor (Costanza Finkelstein, 2015).An appraisal of vast majority of systematic and overcritical reviews provide documented evidence t hat the perceived differences across the generations might follow, but do these generational cohorts actually have different wishes in a go bad context or is it perceived commonly held biases that needs to be investigated empirically (Lyons et al., 2015).This question has been addressed in a research conducted by (Lester, Standifer, Schultz, Windsor, 2012) in the article titled as authentic Verses Perceived Generational Differences at Work An empirical Examination. (Lester et al., 2012) have discussed generational differences in detail, with emphasis on why the personality of these values may lead to the generational misconceptions and its impact on the executeplaces. This study thus provides an articulate discussion about the perceived and actual differences in the organisations with multigenerational men and its impact on workplace. This summary briefing lead circumstances the salient features of the article by (Lester et al., 2012) and will provide the insight of this re search paper lowest with application of the key concepts to my current workplace.Literature ReviewGenerational cohort theory established by Inglehart (1997) merely states that the behaviour and values of the generations born in the same era are shaped by the internal and external events of that era. The generations who are affected by the comparable issues, impacted by the same events and share similar experiences are likely to have similar underlying work values.According to (Lester et al., 2012) currently there are four different generational cohorts in the American work force traditionalists, Boomers, Generation X and Generation X based on the era they were born. This board categorization has been reasoned throughout the literature, traditionalist include individuals born prior to 1946, boomers between 1946 and 1964, Generation X between 1965 and 1981 and Generation Y between 1981 and 2000. Literature suggests that these generational cohorts possess a unique make up of distinc tive and unique characteristics that distinguish their workplace tendencies (Hill Stephens, 2003). This study only includes three generational cohorts due to the reason Traditionalists (65 years of climb on) is commonly viewed as the benchmark age for the retirement (Lester et al., 2012).BoomersThis generational cohort is viewed as consensus seekers, who are competitive micromanagers and possess a moderate level of disrespect for authority. Preference of Face-to-face interaction and stodgy mail are other characteristics of this generational cohort, additionally they are presumed to open in using online tools are resources in their work (Reynolds et al., 2008, cited in Lester et al., 2012, p. 342).Generation XThis generational cohort is viewed as sceptical individuals who prefer relatively in testicle work climate with weaker work ethics. They crave autonomy, challenge authority and believe in work-life balance, where personal activity takes priority. Additionally, they prefer en gineering science based interactions in comparison to face -to-face meetings and value direct feedback form the leaders (Twenge., 2010 Reynolds et al., 2008, cited in Lester et al., 2012, p342).Generation XThis generational cohort is viewed as technology driven, multitasking individuals who prefer working with peers in a team oriented work environment. They strongly value fast paced scientific interactions and regard work-life balance important and where engagement with friends and family take priority over work commitments (Sessa et al., 2007 Steele Gordon, 2006 Crumpacker Crumpacker, 2007 Myers Sadaghiani, 2010, cited in Lester et al., 2012, p342).The literature review suggested although there are many assumptions and perceptions for to each one of the generational cohort but very little empirical evidence exists to substantiate these differences (Twenge, 2010). Lester et al. (2012) selected 15 specific aspects of ones work context and the reasoning was based on the generati onal cohort theory. They also expected greatest actual disparity in generational preferences with respect to technology e-mail communication social media technology formal authority and fun-at-work.On the basis of generational cohort theory, the generations are likely to differ across generational lines in technological means of communication. This is rational on the basis that Boomers generation grew up without the significant exposure to the technology compared to Generation X. The other end of the spectrum is Generation Y who have been exposed to digital world throughout their entire lives would be expected to place highest value on technology (Lester et al., 2012). The generational theory also suggests that when Boomers entered workforce communicating was preponderantly by phone, face-to-face and through traditional mail by the time Generation X cohort joined employment early use of internet and email had arrived. However, the communication for Generation X has been drastically changed by social media like (Facebook, Twitter Texting etc.).Another area of difference between the generation cohorts will be the preference regarding work culture due to ones view of formal authority and its association with leadership (Crampton Hodge, 2007., cited in Lester et al.,2012).On the other hand, perceived differences in what generational cohorts desire in their work context are expected in far greater number. Firstly, from the attribution theory perspective that proposes in order to understand the cause of our or some(a)one else human behaviour, individuals have tendency to link these traits to internal or external causes rather than assuming the behaviours are haphazard in nature (Bell, 2008). Due to this reason it will not be surprising to see generational cohorts have different perception of work values across with respect to each generation lines (Buss, 1978).According to Lester et al (2012) generational stereotyping is another reason for expected perceptual di fferences across three generational cohorts in the study. Immense research in the area of negative and positive stereotyping exit in literature. No statistical significant differences exist yet age stereotyping exist in all organisations with multigenerational workforce. Literature suggests older employees are more likely to contemplate they have stronger work ethics then junior employees of an organisation and younger employees are likely to think they are better at multi-tasking and creativity compared to older employees (Blauth, McDaniel, Perrin, Perrin, 2011). Additionally, authors suggest that in expecting generational value differences regarding technology, views of authority, communication and work culture, these actual value differences will influence perceived generational differences (Lester et al., 2012, p344).Hypothesis 1 substantial generational differences exist regarding the extent to which technology, face-to-face communication, e-mail communication, social media, formal authority and fun-at-work are valued (Lester et al., 2012, p 344).Hypothesis 2There are more perceived value differences between generations than actual value differences (Lester et al., 2012, p 344).MethodsThis study was conducted in United States from a Midwestern organisation. The sample size was 466, with a response received form 263 employees. Female participants formed 84% of the workforce with 16% being male. Participants ranged from 17 to 65 years of age with 4 % having a graduate degree, 30% with bachelors degree, 19% 2-year associate degree, 30% had attend some college and 17% reported of having completed high school. The data was gathered though online survey using a 6-point Likert-type scale (Lester et al., 2012).MeasuresParticipants were placed in the four generational categories on the basis of their age where 62 categorised as Generation Y, 102 Boomers and 99 Generation Y respectively. Three or four participants fell into Traditionalist but were included into B oomers category due to their small number (Lester et al., 2012).Participants were asked about the how they personally valued already selected 15 different items (table 1) that could represent their work contented I harbor and then they were asked to rate the same items based on the extent to which they believed each if the three generations valued the items (Lester et al., 2012).Table 1 (15 specific aspects of ones work context and I value measure groupingTable 1. I Value Measure GroupingsEngagementNature of JobTechnologyStructureTeamwork libertyTechnologyFormal authorityFace-to-face communicationSecurityE-mail communicationStructureParticipationProfessional affectionate mediaContinuous learning pliantFun at workRecognition(Lester et al., 2012, p346).ResultsMultivariate statistical analysis was conducted to test the relationship between generational designation and 15 I Value items. Control variables of gender, educational level, ethnicity and generational design were entered as f ixed factors and 15 I Value items were entered as dependent variables.Table 2. Hypothesis 1 Actual Differences Between Generations on I Value ItemsMeanValueGeneration YGeneration XBoomersDifferenceaInterpretationE-mail communication4.904.190.71**Generation Y reports valuing it more thanBoomers report valuing itSocial media3.902.741.16***Generation Y reports valuing it more thanGeneration X reports valuing it3.90 2.40 1.50*** Generation Y reports valuing it more thanBoomers report valuing itFun at work 5.48 4.79 0.69** Generation Y reports valuing it more thanGeneration X reports valuing it5.48 4.82 0.66** Generation Y reports valuing it more thanBoomers report valuing itContinuous learning5.334.820.51*Generation Y reports valuing it more thanBoomers report valuing itProfessionalism5.065.430.38*Boomers report valuing it more thanGeneration X reports valuing ita. The values represent absolute difference mean scores. *p .05. **p .01. ***p .001 (Lester et al., 2012, p347).ReferencesB ell, E. E. (2008). Exploring employee perception of the work environment along generational lines. Performance Improvement, 47(9), 35-45.Blauth, C., McDaniel, J., Perrin, C., Perrin, P. (2011). Age-based stereotypes Silent killer of collaboration and productivity. No. M01360). Tampa AchieveGlobal.Buss, A. R. (1978). Causes and reasons in attribution theory A conceptual critique. Journal of Personality and Social Psychology, 36(11), 1311.Costanza, D. P., Finkelstein, L. M. (2015). Generationally based differences in the workplace Is there a there there? industrial and Organizational Psychology, 8(03), 308-323.Hill, R. P., Stephens, D. L. (2003). The compassionate organization in the 21st century. Organizational Dynamics, 32(4), 331-341.Lester, S. W., Standifer, R. L., Schultz, N. J., Windsor, J. M. (2012). Actual versus perceived generational differences at work an empirical examination. Journal of Leadership Organizational Studies, 19(3), 341-354.Lyons, S., Urick, M., Kuron, L. , Schweitzer, L. (2015). Generational Differences in the Workplace There Is Complexity Beyond the Stereotypes. Industrial and Organizational Psychology, 8(03), 346-356.Twenge, J. M. (2010). A review of the empirical evidence on generational differences in work attitudes. Journal of Business and Psychology, 25(2), 201-210.

The Great Gatsby American Dream Essay -- F. Scott Fitzgerald

The Great Gatsby is a novel that illustrates the society in the 1920s and the associated beliefs, values and dreams of the Ameri washstand population at that time. These beliefs, values and dreams can be summed up be what is termed the American Dream, a dream of money, wealth, prosperity and the happiness that supposedly came with the booming economy and get-rich-quick schemes that formed the essential hellhole of American upper-class society. This underworld infiltrated the upper echelons and created such a moral decay within general society that paved the way for the ruining of dreams and alert of hopes as they were placed confidently in the chance for opportunities that could be seized by one and all. Scott Fitzgerald illustrates the American Dream and the foul dust or the carelessness of a society that floats in the wake of this dream. By looking at each character and their situation and ambition it can be seen that the American Dream was non limited to one social class or typ e of person, that it was nation wide and was found within everyone. From the position as narrator the reader has introduction to the thoughts and feelings of Nick Carraway more than any other characters, but this same position also reduces the effectiveness of the reader as a judge of character because he is presented in a biased way compared to others. With that said, it can be seen that Nick suffers greatly from his experiences in New York. His regard for human decency is ruined and he leaves with his hopes rush along and a disgust at how the physicalism that runs rampant throughout his social class is capable of ruining lives and dreams. Nick, as with all characters is a believer in the American Dream because even he moves East to work in the bond bu... ...hen she talks about careless people, saying she hates careless people when she admits that she is one.) that dedicate to the overall ethical decay within the American aristocracy. Fitzgerald shows that in the social cla sses that were represented in The Great Gatsby there is a running theme of how the American dream affects all of the characters, they each have their own aspirations for their own life but more often than not they revolve around money and the effects that wealth has on their style of life. Because of the tragic events within The Great Gatsby and the fact that the characters who are still alive at the end of the novel, bar Nick, are not drastically altered by their experience lend to the view that the 1920s and 1930s or the Jazz Age held a society of people who were ruled by materialism and trivial and depthless beliefs and values.-Cam

Internet & Society: Technologies and Politics of Control Essay

Internet & Society Technologies and Politics of ControlFrom the moment Internet file-sharing became a reality, exploding into millions of homes and dorms, something changed. Internet file sharing brought with it the opportunity to access for free what had antecedently cost money. Beyond that, file sharing created a social norm that music and digital media ought to be free. How did this happen? How did file sharers warp reality and forever create this notion that digital media, notably music doesnt require the money it always had before? Through this paper, I will attempt to hear that the social norms of the Internet public were corrupted by code, by deceptive P2P programs that mask reality for the sake of prosperity. It is this warped social norm that plagues the future of digital media tomorrow. By examining the programs that have forced this revolution (Napster, LimeWire, KaZaA) much can be learned and understood about where and how society failed to recognize its Internet world is in fact an extension of the physical world, and the same rules of civility and morality ought to apply. It is my contention that the P2P networks created an atmosphere built around harmonious sharingusing the ideas of strength in numbers and anonymity to create richly stocked P2P networks. Finally, after careful analysis and discussion of the facts, I will offer suggestions on moving front and hopefully solving the chaos and problems faced by the present system (or lack thereof). In Code and other integritys of Cyberspace, constabularyrence Lessig outlines the four modalities of regulationlaw, markets, norms, and architecture. Law has the ability to regulate behavior through penalty and markets create incentives for people to behave in particular... ...the Internet and online file sharing no longer be a chaotic jungle of copyright infringement, but an extension of community and relationships as we understand these terms in the offline world. Works CitedGoulder, Alvin. The Nor m of Reciprocity A Preliminary Statement American Sociological Review 1960.Levin, Daniel. Building Social Norms on the Internet. Yale Journal of Law & Technology. 2001-2002.Steiner, Peter. On the Internet, Nobody Knows Youre a Dog. The New Yorker 5 July 1993.Strahilevitz, Lior Jacob. Charismatic Code, Social Norms, and the Emergence of Cooperation on the File-Swapping Networks. John M. Olin Law & Economics Working Paper No. 165. The University of Chicago Law School. http//law.uchicago.edu/lawecon.index.htmlTakahashi, Nobuyuki. The Emergence of Generalized Exchange American Journal ofSociology 2000.