Free Merchant of Venice Essays: Secular and Religious Views :: Merchant Venice Essays

Merchant of Venice - Secular and Religious Views The secular and religious views of both, Antonio and Shylock,   were portrayed very bluntly. The religious opinions of both characters   were that their religion was superior to infidels and also very   stereotypical. In the business world, Antonio owned ships with   valuable goods and was extremely generous. He always relied on their   return to shore and expressed his faith in this book. On the other   hand, Shylock was a greedy man and used the Bible for sources of   interest to collect more money. Relating to religious views Antonio   and Shylock were very parallel, but in means of business the two were   reverses.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   "I[Shylock] hate [Antonio] for he is a Christian. . . [Antonio]   hates our sacred nation." This phrase said by Shylock, a Jew, is based on the beliefs of other Jews upon other Christians. Shylock is   being very stereotypical because Shylock doesn't really know Antonio,   Shylock heard of Jew-hating Christians, so he thinks that all   Christians hate Jews. Antonio happens to be a great man and Shylock   didn't even give him a chance, he just hates Antonio for being of   different religion.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   "The Hebrew[Shylock] will turn Christian; he grows kind."   Antonio says this, thinking that no Jews are kind, emphasizing naiveness. Then Antonio sees the Hebrew, Shylock, becomes amiable, so   he believes that's impossible. So Antonio interprets the scenario as   Shylock being Christianized, because he is becoming   generous. This   quotation shows how Antonio thinks that his religion, Christianity, is   superior to Judaism. The previous quotation illustrated how Shylock   was stereotypical about Christians. Both characters have similar   beliefs about other religions.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   "Why, fear not, man, I will not for felt it! Within these three   months- that's a month before this bond expires-I do expect, return of thrice three times the value of this bond." This phrase was said by   Antonio assuring Shylock that his ship with all his goods will return   with the interest that Antonio owes Shylock for borrowing money. This   shows Antonio's trust in his ship even though there were strong winds   and high chances that his ship will be overturned. Antonio is very   naive about the real world of business and no matter what happens he   thinks he will be successful.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   On the other hand, Shylock is a wise business man, but very   greedy.

Easy to Learn Essay

Here are some interesting stories for all the god’s fan†¦. 1.Sachin was given a pair of pads by his cricket hero Sunil Gavaskar when he was a schoolboy – and he made his Test debut for India against Pakistan aged just 16-years old in 1989 wearing those very pads†¦.. 2.Like loads of other cricketers, Sachin is pretty superstitious – he’ll always put on his left pad before his right whenever he’s getting padded up†¦Ã¢â‚¬ ¦ 3.â€Å"He hasn’t spent Diwali at home since we got married. But it really doesn’t matter that it’s Diwali†¦ any time he spends at home is great!† – Anjali, his wife, told once†¦ Once in a BBC interview when asked about his dream women, Sachin answered ‘my wife’ without batting an eyelid. 4.†He scored a fantastic 148 in Shane Warne’s debut Test in Sydney and then followed it up with another century at Perth, one of the toughest pitches in the world , where Indians have traditionally struggled. The value of his hundred increased because all the other Indian batsmen struggled. His weakness is the fact that he is so talented. His adrenaline pumps strongly when he walks out to bat with the noise of the crowds. You can’t hear yourself think with that noise. I would pay $1000 to watch Sachin bat. To score a 148 at Sydney – and that too when you are 18 — was out of the ordinary though the wicket was a lot like the ones you encounter in India, flat with lots of runs for the taking†¦Ã¢â‚¬ ¦.† The above facts are told by Allan Border. 5.The entire cricket world is convinced of one thing : Sachin Ramesh Tendulkar is the world’s best batsman. Not just for his extraordinary skill, not just for his ability to tear even the most formidable of bowling attacks to shreds; but also for a rare never-say-die spirit, an insatiable hunger for runs and victory, a desire to dominate the opponent ; commitment, dedication †¦ These are what the little champion has built his reputation on. .. 6.Tendulkar was a person who would never show any disrespect to the national flag..He respects the national flag most and had even sought permission to use the tricolour on his helmet†¦Ã¢â‚¬ ¦ It’s not the riches or the records but the love for the game that keeps the world’s richest cricketer going day after day. It is his hard work, determination, temperament & dedication for the country that keeps him charged†¦. 7.Tendulkar, now in his eighteenth year in international cricket says, †I still play†¦ because I still love the game.† †I would like to clarify this. It’s not about records. It’s all about loving the game and enjoying being out there in the middle. That is extremely special to me and far bigger than breaking records or creating new ones.† †Creating records happens after you’ve gone on the cricket field, but you’ve got to find a reason to go on the cricket field, and for me the reason is very clear.† †From the age of three I’ve loved this sport and I’ve never thought about scoring the most number of centuries or runs in international cricket. Everyone enjoys breaking records, I’m enjoying it too, but that is not the reason for playing cricket.† â€Å"Whatever level you reach, getting better never stops†-Sachin. Tendulkar said †When I started playing, I always wanted to be regarded as one of the best and the idea was that when I stopped playing, people would remember my name. Being regarded as one of the best players is always a good feeling, and that drives you, it refuels you completely. You want to be on top of your game all the time and push yourself harder and harder. There’s a huge responsibility and it is a great challenge. I love that,† he added†¦.. 8.Some quotes by GOD himself†¦Ã¢â‚¬ ¦ My big sister gave it to me after returning from a trip to Kashmir, which is known for its high-quality willows. It wasn’t the best bat, but it was like a piece of gold to me. I used to imagine myself batting for India, hitting fours and sixes, the people cheering. I used that bat until it broke .. I was the only one supporting John McEnroe — everyone used to call me â€Å"Mac† because I styled myself on him. I made my father buy me the same headbands and sweatbands and even grew my hair long. You wouldn’t believe the pictures of me from that time. I was also extremely naughty. Very, very difficult to handle. †¦I had a nanny who used to run after me virtually 24 hours a day, because I never wanted to go home My father, who died in 1999, was never a cricket fan, not at all. He was a writer and a poet: he taught Marathi, my mother tongue, at the local university. But he understood exactly how to get the best out of me. He always encouraged me and told my mother that he had full faith in me. It was probably reverse psychology, but as I got older I felt like I could not misuse that trust. He warned me against taking short cuts and told me to just keep playing, despite the ups and downs. My parents taught me that it is important to live every day of your life with grace and honour.When it came to choosing between cricket and going to university, he said: â€Å"You can play cricket, I know that is your first love, so go for it.† Of course, my parents were extremely happy when I became the youngest player to play for India, at 16. .. Cricket is something very, very special to me. It has never been about owning this or that car and the other things that come with this life.. An obsession with money or worldly matters was always thumbed down. My only dream was to wear the Indian cap and the Indian colours. In that respect, my childhood dreams have come true†¦.. Having children brings back all my old childhood memories, wonderful years. Now, every minute is measured and calculated. I still dream — without dreams, life is flat, you stagnate. I don’t go to the temple every morning, but I do pray. I thank God for everything he has given me, because life has been very good to me. 9.Chappell should remember how Tendulkar has achieved his greatness and carried the weight of expectations of a billion people since the age of 16, Jadeja said. He added â€Å"When tendulkar enters the field, the crowd says-SACHIN! SACHIN! This is something what every cricketer wants†.. Sachin Tendulkar, the brightest star in the world of cricket has achieved his greatest prices with his intellectual and skilful cricketing brains.. SACHIN dreamt a world of superstars and great triumph and he achieved it.. At the age of 10 he walked to the field at 6 am with a cricket bag bigger than him for the practice. At the age of 11 he moved with his paternal uncle to get trained in cricket by the most renowned coach Ramakanth Achrekar. .. 10.Billions of hearts weep†¦..on the day when Sachin (GOD) retire. Indians wish that day never comes. It would be one of the most disappointing days of our life. Ever since Indians started watching cricket, it was Sachin, Sachin & only Sachin who made them feel cricket so special. Sachin is only responsible for making cricket a religion in India. They haven’t experienced watching cricket without Sachin. Whether he was injured/rested, there was always a ray of hope that he comes back to team soon. But after retirement, he will never be backing†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..If anyone wants to achieve anything in life, Sachin is the best example for them. I feel most people find it hard to digest that Sachin will no more be a part of Indian cricket†¦Ã¢â‚¬ ¦.on that day, isn’t it? JUST imagine that day, when Sachin plays his last game. He comes to bat for the last time, and everybody in the stadium claps & the chants of SACHIN!!! came for the last time after he gets out, while walking back to the pavilion, the entire crowd gives him a stand awaition. Many of them will be in tears, millions of eyes wet watching their hero play for the last time. An era ends. The end of a legend came†¦Ã¢â‚¬ ¦..The bond between every generation breaks. Would you miss Sachin a lot? I think most of people would say â€Å"YES†. The saddest day of Indian cricket- when genius retires†¦LOVE YOU SACHIN!!! 11.From the early 90s to the early years of the new millennium represented the decade of Brian Lara, Richardson, Martin Crowe, Steve and Mark Waugh, Mathew Hayden, Inzamam-ul-Haq, Gary Kirsten and Rahul Dravid. But there can be any doubt that the No.1 batsman in the world for a decade now has been Master Blaster, Sachin Tendulkar. . But figures, however important they may be, are something that Tendulkar’s achievement should not be measured by. He should be judged by the manner of his batting & that is what Bradman did. Symbolized by Sir Bradman naming him in his dream team of all time. The team in which Tendulkar is the only Indian player. He has scored runs on slow pitches of the subcontinent, fast tracks of West Indies, bouncy wickets in Australia and South Africa and in whirling conditions in New Zealand and England. The thought of having Tendulkar as an opponent gives bowlers bad dreams. No batsman has inflicted such psychological damage to bowlers at any time in the world like Tendulkar did to Shane Warne!!!(Warne said Tendulkar is my nightmare). His technique is so well organized that he is able to encounter any delivery with ease and comfort, giving the impression of having all the time in the world to play the stroke, the hallmark of the greatest of batsmen.

Example of Two Sample T Test and Confidence Interval

Sometimes in statistics, it is helpful to see worked out examples of problems.   These examples can help us in figuring out similar problems.   In this article, we will walk through the process of conducting inferential statistics for a result concerning two population means. Not only will we see how to conduct a hypothesis test about the difference of two population means, we will also construct a confidence interval for this difference.   The methods that we use are sometimes called a two sample t test and a two sample t confidence interval. The Statement of the Problem Suppose we wish to test the mathematical aptitude of grade school children.   One question that we may have is if higher grade levels have higher mean test scores. A simple random sample of 27 third graders is given a math test, their answers are scored, and the results are found to have a mean score of 75 points with a sample standard deviation of 3 points. A simple random sample of 20 fifth graders is given the same math test and their answers are scored. The mean score for the fifth graders is 84 points with a sample standard deviation of 5 points. Given this scenario we ask the following questions: Does the sample data provide us with evidence that the mean test score of the population of all fifth graders exceeds the mean test score of the population of all third graders?What is a 95% confidence interval for the difference in mean test scores between the populations of third graders and fifth graders? Conditions and Procedure We must select which procedure to use. In doing this we must make sure and check that conditions for this procedure have been met. We are asked to compare two population means. One collection of methods that can be used to do this are those for two-sample t-procedures. In order to use these t-procedures for two samples, we need to make sure that the following conditions hold: We have two simple random samples from the two populations of interest.Our simple random samples do not constitute more than 5% of the population.The two samples are independent of one another, and there is no matching between the subjects.The variable is normally distributed.Both the population mean and standard deviation are unknown for both of the populations. We see that most of these conditions are met.   We were told that we have simple random samples.   The populations that we are studying are large as there are millions of students in these grade levels. The condition that we are unable to automatically assume is if the test scores are normally distributed. Since we have a large enough sample size, by the robustness of our t-procedures we do not necessarily need the variable to be normally distributed. Since the conditions are satisfied, we perform a couple of preliminary calculations. Standard Error The standard error is an estimate of a standard deviation. For this statistic, we add the sample variance of the samples and then take the square root. This gives the formula: (s1 2 / n1 s22 / n2)1/2 By using the values above, we see that the value of the standard error is (32 / 27 52 / 20)1/2 (1 / 3 5 / 4 )1/2 1.2583 Degrees of Freedom We can use the conservative approximation for our degrees of freedom. This may underestimate the number of degrees of freedom, but it is much easier to calculate than using Welchs formula. We use the smaller of the two sample sizes, and then subtract one from this number. For our example, the smaller of the two samples is 20. This means that the number of degrees of freedom is 20 - 1 19. Hypothesis Test We wish to test the hypothesis that fifth-grade students have a mean test score that is greater than the mean score of third-grade students. Let ÃŽ ¼1 be the mean score of the population of all fifth graders. Similarly, we let ÃŽ ¼2 be the mean score of the population of all third graders. The hypotheses are as follows: H0: ÃŽ ¼1 - ÃŽ ¼2 0Ha: ÃŽ ¼1 - ÃŽ ¼2 0 The test statistic is the difference between the sample means, which is then divided by the standard error. Since we are using sample standard deviations to estimate the population standard deviation, the test statistic from the t-distribution. The value of the test statistic is (84 - 75)/1.2583. This is approximately 7.15. We now determine what the p-value is for this hypothesis test. We look at the value of the test statistic, and where this is located on a t-distribution with 19 degrees of freedom. For this distribution, we have 4.2 x 10-7 as our p-value. (One way to determine this is to use the T.DIST.RT function in Excel.) Since we have such a small p-value, we reject the null hypothesis. The conclusion is that the mean test score for fifth graders is higher than the mean test score for third graders. Confidence Interval Since we have established that there is a difference between the mean scores, we now determine a confidence interval for the difference between these two means. We already have much of what we need. The confidence interval for the difference needs to have both an estimate and a margin of error. The estimate for the difference of two means is straightforward to calculate. We simply find the difference of the sample means. This difference of the sample means estimates the difference of the population means. For our data, the difference in sample means is 84 – 75 9. The margin of error is slightly more difficult to compute. For this, we need to multiply the appropriate statistic by the standard error. The statistic that we need is found by consulting a table or statistical software. Again using the conservative approximation, we have 19 degrees of freedom. For a 95% confidence interval we see that t* 2.09. We could use the T.INV function in Excel to calculate this value. We now put everything together and see that our margin of error is 2.09 x 1.2583, which is approximately 2.63. The confidence interval is 9  Ã‚ ± 2.63. The interval is 6.37 to 11.63 points on the test that the fifth and third graders chose.

Legal And Ethical Dilemmas Of The Healthcare Industry

Controversial topics exist in nearly every industry, but perhaps none more dramatic and differentiated than those issues in the Healthcare industry. Legal and ethical dilemmas are constantly present within the Healthcare industry, so it is important to understand the governing laws and that there is an understandable diversity of opinions on these sensitive topics, which can lead to differing opinions about the â€Å"right† thing to do in a particular situation (Harris, 2008). One such topic is that of a patient’s right to refuse treatment. The right to refuse medical treatment in the United States of America is typically traced back to the judicial opinions of court cases: Union Pacific Railway Co. v. Botsford, 141 U.S. 250, 251 (1891), which held that all individual’s had the right to possession and control of his person, free from all restraint or interference of others, unless by clear and unquestionable authority of law, and Schloendorff v. Society of New Yo rk Hospital, 105 N.E. 92, 93 (N.Y. 1914), which went a step further and stated that a surgeon who performs an operation without patient’s consent commits an assault, for which they are liable in damages (Standler, 2012). There are numerous court cases and various opinions on the topic of a patient’s right to refuse medical treatment, and this type of constant criticism leads to changes in law, the healthcare industry temperament, physician behavior, and patient treatment. Through legal action there has been a precedenceShow MoreRelatedHealthcare Marketing And Ethical Considerations928 Words   |  4 PagesHealthcare Marketing and Ethical Considerations Marketing and advertising strategies have historically been an important avenue for businesses to reach target audiences. However, for the healthcare sector, marketing and advertising are a newer strategy. 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Fossil Fuels And Its Impact On The Economic, Political,...

Introduction In 2010, the United States became the world’s largest natural gas producer, claiming the top spot that was formerly owned by Russia. The U.S. is now ranked as one of the world’s largest producer of oil and natural gas liquids, creating about 50 percent of its own oil in 2014. The Lone Star State produces about 35 percent of the country’s oil and 23 percent of the country’s natural gas. Texas has always been a major center for oil and natural gas companies starting from the discovery of oil in the early 1900’s. Consequently, fossil fuels play a significant role in the economic, political, and social construct of Texas. However, scientific studies have provided information highlighting the numerous environmental problems that can come from the production and use of fossil fuels. Should Texas try to eliminate the use of fossil fuels and preserve the environment or do the economic benefits that come from oil and natural gas production outway the use of cleaner energy sources? 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IT Management Issues Oz Supermarket

Question: Discuss about the IT Management Issues for Oz Supermarket. Answer: Introduction Oz Supermarket is a retail chain business that deals with the sale of wide varieties of non-perishable items like stationeries, household goods, daily usable items and others. The retail stores have a unique method of payment and sale. The customers need to use a card with certain balance and whenever the customer places an item in the cart, the price of the item is automatically deducted from the card. As a result, there are no cash transactions or long queues in front of the payment counters. In this report, the business operations of the Oz Supermarket retail chain has been analyzed and suitable recommendations have been provided. Business Operations of Oz Supermarket Oz Supermarket is a retail chain business that deals with non-perishable daily use items and stationeries. Unlike other retail chains, the business operation of this company is quite different and unique. This mainly owes to the fact that the company is utilizing the latest technology for cashless transactions. The retail stores of this company do not have any cash transaction system (Jeong, Kim Yoon, 2014). The customers need to use a card with certain balance and whenever the customer places an item in the cart, the price of the item is automatically deducted from the card. There is also a system of temporary cards for tourists and children. The current business operations of the company are extremely convenient for the customers and the system itself is unique. However, maintenance of this system requires significant maintenance costs as well as proper planning. The technology used by the company is quite expensive and the maintenance of such a system is even more expensive. Howe ver, the technology also incurs significant amount of expenses. Unless these expenses are covered by the generated revenue, the company will start encountering huge losses (Ajmera et al., 2013). Hence, the company needs to prepare a suitable plan for the implementation of technology in their business. The expenses behind the use of technology are explained below. PayWave Technology This technology utilizes RFID tags and transaction cards. The transaction cards are to be recharged with certain amounts of money. The RFID tags are attached to each of the products sold by Oz Supermarket. The shopping cards also contain some RFID detector devices that also connect to the PayWave cards by the user verification id (Peltier, Zahay Krishen, 2013). Once a customer places a certain product in the cart, the reader reads the RFID tag of the product and deducts the price from the customers available balance in the PayWave card. Due to use of RFID tags for every product, the expenses significantly increase for the purchase and maintenance of the tags. Cards The cards used for the PayWave Technology are specially made so that that can connect wirelessly to the RFID as well as the system server where the fund balance for each user is stored (Kilic, Zaim Delen, 2015). Hence, these cards are extremely expensive. Moreover, many of the customers accidentally damage or lose these cards. As a result, the company has to issue new cards for the customers. This further increases the overall costs. On the other hand, the company absorbs all the expenses from the revenue and the main source of income are the revenues from the sales and the parking space. This is risky as both of these are not constant or stable sources of income and if the customer count decreases, the revenue will also start to decrease significantly. Conclusion This report deals with the analysis of existing business system in Oz Supermarket retail chain. Unlike other retail chains, the business operation of this company is quite different and unique. This mainly owes to the fact that the company is utilizing the latest technology for cashless transactions. The retail stores of this company do not have any cash transaction system. The customers need to use a card with certain balance and whenever the customer places an item in the cart, the price of the item is automatically deducted from the card. However, the technology also incurs significant amount of expenses. Unless these expenses are covered by the generated revenue, the company will start encountering huge losses. Hence, the company needs to prepare a suitable plan for the implementation of technology in their business. Recommendations Based on the analysis of the business system in Oz Supermarket retail chain, the following recommendations can be suggested. ERP System In order to maintain the business system, the company can consider implementation of ERP system. The current business operations of the company are extremely convenient for the customers and the system itself is unique. However, maintenance of this system requires significant maintenance costs as well as proper planning. The technology used by the company is quite expensive and the maintenance of such a system is even more expensive. The ERP system will enable the company to prepare a more solid pricing and business strategies that will help the company to recover these expenses from the revenue as well as gather significant profits. CRM System Maintaining a healthy customer relationship is necessary for any business organization. The business organization can use any technology they like but the increase in the business depends largely on the relationship the company has with the customers. Supermarket Oz has a well-defined business structure as well as strong support of latest technology but the company is yet to venture in the customer relationship area. It is suggested that the company should implement CRM system in order to develop a good customer relationship. This will enable the company to gain more customers resulting in the rapid rise of revenue. Use of Technology The company uses unique and latest technology that is definitely beneficial for the business. However, the technology also incurs significant amount of expenses. Unless these expenses are covered by the generated revenue, the company will start encountering huge losses. Hence, the company needs to prepare a suitable plan for the implementation of technology in their business. The ERP system will help the company to prepare a suitable business strategy. Accordingly, the company should also have a strategy to deploy technology. During the preparation of the financial planning, the company should have a certain part of the budget allocated for the deployment of the technology. The overall expenses on technology should not exceed this limit unless the annual revenue increases by a significant percentage. Additional Option for Improving Customer Service Other than the implementation of CRM system, the customer service of the company can be enhanced by implementing some basic strategies and policies. These are discussed below. Information and Communication Technology (ICT) ICT is an important technology for any customer service. The ICT system provides a common server in which, all the users of the customer care department are connected together (Jaakkola Alexander, 2014). The customer feedbacks and all the relevant data are stored in this server. The customer care staffs can communicate with the customers with the help of ICT system regarding services, products and feedbacks. Use of the Internet and Social Media The company can use the internet (specifically the social media) as the platform for providing customer services. They can open a customer care forum in the social media site where customers can submit their complaints or feedbacks that can then be addressed by the company. Surprise Gifts and Coupons The main idea behind this is to surprise the customers with gifts or coupons. Unexpected gifts and surprises will always please the customer and he will be interested in further transactions with the company (Liu Whitt, 2017). These surprise gifts can also be replaced by weekly contests where the customers can win several prizes. If these contents and gifts can be provided on regular basis, the customer count of the store will gradually increase significantly, earning high amounts of revenue for the company. The company should analyze customer feedbacks and make changes in the business parameters according to the demands of the customers. The implementation of the customer service system will aid the company in this aspect and the sales parameters will depend on the general feedback outcome generated from the customer service system. Improvement of Business Services The following three suggestions can be provided to the company for improving business services and gain more customers. Customer Feedback The business services of the company can be enhanced by a customer feedback system. Any business is run successfully if the customer demands are met at the right time. Hence, knowing the customer demands is necessary. In order to do that, a customer feedback system has to be installed. This can be done through feedback forums in social media or some other websites. In these feedback forms, the customers should have the option to review a particular product or service based on quality, quantity and pricing. The company should analyze these feedbacks and make changes in the three parameters according to the mass demands (Heskett, 2013). The implementation of the CRM system will aid the company in this aspect and the sales parameters will depend on the general feedback outcome generated from the CRM system. Moreover, regarding the use of technology, the company should emphasize on customer feedbacks. This is because even if the company uses modern and latest technolog y, some customers may not be able to operate using the gadgets. Many customers will take time to adjust with the cashless transaction and the PayWave Technology. Again, there are cyber security risks associated with the cashless transaction system and hence, the customers may feel insecure regarding the transaction process in the store. The company should analyze the feedbacks of the customers regarding these issues and take suitable steps to address them. Product Quality Review The business operations of the organization can be improved by a product quality review forum. Any retail business is run effectively if the product quality is standard at a suitable and reasonable price limit. With a specific end goal to do that, a product quality review forum must be introduced. This should be possible through quality review discussions in web-based social networking or some different sites. In these input frames, the clients ought to have the choice to survey for a specific item or service in terms of pricing, quality and quantity (Piccoli, Lui Grn, 2017). The organization ought to examine these inputs and roll out improvements in the three parameters as indicated by the mass requests. The usage of the CRM framework will help the organization in this perspective and the business parameters will rely on upon the general quality review produced from the CRM framework. Pricing and Variety Pricing and variety are two important aspects of business. Different customers prefer different varieties of products from different manufacturers. Hence, keeping different varieties of similar products for sale is necessary in order to attract a wide range of customers. If the store can attract a wide range of customers, the overall revenue will also increase (Lusch Vargo, 2014). For instance, let the store sells deodorant sprays. Now, different customers prefer deodorant sprays of different brands. Now, if the company sells only one brand, the customers that prefer other brands will not come to the store. On the other hand, if different brands are sold, all the customers will come to the store for buying the sprays. Hence, variety is an important factor for business operations. Another important factor is the pricing of the product. While the pricing should be such that the company can compensate all the expenses with the revenue, the prices should also be rea sonable and cheap with respect to the prices of other nearby stores. For instance, let the store sells a particular item at $35 whereas other nearby stores sell it at $20. In this case, the customers will prefer the store that sells the item at $20. Again, if the store decides to sell the item $15, the customers may be attracted to buy from the store but the company will incur losses as the price of the product is too low. Hence, the store must be aware of the all the related factors before setting the prices of the products sold. References Ajmera, J., Ahn, H. I., Nagarajan, M., Verma, A., Contractor, D., Dill, S., Denesuk, M. (2013, May). A CRM system for social media: challenges and experiences. InProceedings of the 22nd international conference on World Wide Web(pp. 49-58). ACM. Heskett, J. L. (2013). Controlling customer logistics service.International Journal of Physical Distribution Logistics Management. Jaakkola, E., Alexander, M. (2014). The role of customer engagement behavior in value co-creation: a service system perspective.Journal of Service Research,17(3), 247-261. Jeong, D., Kim, S., Yoon, D. (2014). Customer Orientation and Organizational Performance: Mediating Role of CRM.Advanced Science and Technology Letters,57, 35-39. Kilic, H. S., Zaim, S., Delen, D. (2015). Selecting The Best ERP system for SMEs using a combination of ANP and PROMETHEE methods.Expert Systems with Applications,42(5), 2343-2352. Liu, Y., Whitt, W. (2017). Stabilizing performance in a service system with time-varying arrivals and customer feedback.European Journal of Operational Research,256(2), 473-486. Lusch, R. F., Vargo, S. L. (2014).The service-dominant logic of marketing: Dialog, debate, and directions. Routledge. Nwankpa, J., Roumani, Y. (2014). Understanding the link between organizational learning capability and ERP system usage: An empirical examination.Computers in Human Behavior,33, 224-234. Peltier, J., Zahay, D., Krishen, A. S. (2013). A hierarchical IMC data integration and measurement framework and its impact on CRM system quality and customer performance.Journal of Marketing Analytics,1(1), 32-48. Piccoli, G., Lui, T. W., Grn, B. (2017). The impact of IT-enabled customer service systems on service personalization, customer service perceptions, and hotel performance.Tourism Management,59, 349-362.

Whole Foods Market Company Essay Example Essay Example

Whole Foods Market Company Essay Example Paper Whole Foods Market Company Essay Introduction Whole Foods Market was formed in the 1980 in Austin, Texas, in the USA by three businessmen by the names John Mackey, Lawson Hardy and Craig Weller and Mark Skiles. These businessmen felt that the natural foods industry still had a lot of opportunities and that is why they decided to open a natural foods supermarket given the fact that three were very few number of natural food supermarket in the USA then.John Mackey and Renee Lawson who was John’s girlfriend borrowed $45,000 from friends and family, which they used to form Saferway in Austin Texas. Saferway was name from Safeway, which operated in Austin, Texas then.They then merged with Clarksville Natural Grocery two years later. Clarksville was owned by Craig Weller. The merger resulted in the formation of Whole Foods Market in 1980 September 20. The store space was 12,500 feet with staff of 19. In 1981, the flooding in Texas resulted in massive losses of about $400,000. The company had no insurance cover. The community of fered to voluntarily repair and clean the damage.The year 1984, witnessed the expansion of the company to Houston, Dallas and New Orleans. The expansion to New Orleans was through the purchase of whole food company. In 1989, the company opened a store in Palo Alto, California.The expansion was through new store openings and through acquisitions like Wellspring Grocery of North Carolina, Bread Circus of Massachusetts and Rhode Island, Mrs. Goochs Natural Foods Markets of Los Angeles, Bread of Life of Northern California, Fresh Fields Markets on the East Coast and Midwest, Florida Bread of Life stores Detroit area merchant of Vino stores and Natures Heartland of Boston. All these acquisitions were done in the 1990s.The company continued to grow and expand with the acquisition of Food for Thought in Northern California and Harry’s Farmers Market stores in Atlanta.The company expanded into Manhattan in 2001. In 2002, Whole Foods Market entered the Canadian market. 2004 saw the e ntry into the UK market with the acquisition of seven fresh and wild stores.Planning and budgetary concerns for the companyThe company’s operations and performance could be affected by the following planning and budgeting concerns. The planning includes the strategic while the budgeting concerns the planned utilization of resources.One of the biggest threats to the company’s financial and operation performance this year is going to be the challenges brought about by the increasing food prices. The global food prices have been on an increasing trend and this could severely impact on the company’s earnings. Rise in food prices will lead to higher product prices, which could affect the sales. Significant increase/fluctuation in raw material prices could render the budgets irrelevant.The threat of existing and new entrants in the industry is also of concern to the company. The competition can lead to the company abandoning its expansion plans and concentrate in tyin g to consolidate its current market share that may be falling to competitors. In terms of budgeting the threat of competition may lead to changes in product pricing or expenditures in for example advertising.The expansion undertaken by the company may not provide the anticipated benefits in terms of increased market share. Rather the new stores may eat into the already existing market share of the company such that the acquisition may not help in the overall strategies of the company.New store openings by the company may lead to higher operating costs that were not budgeted for. The profitability of new stores may not happen as expected and therefore lead to extra costs that were not anticipated. The profitability of these new stores may not be as planned and thus their overall contribution to the company may not be significant.Since the company operates in a very sensitive industry; the food industry, then, any harm caused by the company’s products may lead to the loss of th e image of the company and even result in costly litigations that may severely affect the financial performance of the company.In its risk factors section of the annual report the management indicates that the expansion and growth of the company depend highly on the acquisitions and new store openings. This means that if the company does not open or acquire other companies then the planned growth prospects may not be achieved.The company has undertaken its recent acquisitions and expansion using a combination of cash and debt. This has lead to the company having a huge debt in its books. Highly generated companies may not be attractive to investors and therefore the planned acquisition may not be successful. Also the funds for expansion may not be available.Rise in global commodity and product prices increases the cost of the company’s products. The availability of products with the required levels of standards may also pose a problem in the company. Since the company cannot compromise on the quality of products it offers, it has to source for high quantity products at high prices. These high prices may be above the budgeted prices such that the plans may not be attainable.All the above discusses factors can affect the plans of the company. The plans are strategies that the company is aiming to prove in order to achieve its desired goals and objectives. Budgets on the other hand help the company keep track on the costs and revenues. The budges should therefore be followed at all times in order to avoid any negative variance although unforeseen circumstances can make this hard to achieve.Main products of the companyThe company is very strict on the quality of product that it sells in its stores. The natural and organic foods form all of the products on offer at the company’s outlets. Natural and organic foods lack the additives, preservatives, colorings and sweetness. Consumers are keen on the effects that the products they consume have in their h ealth.Apart from being natural or organic the products should be fresh, healthy and has undergone minimal processing. Such products will still have their pure taste and nutrients.The company also buys its produce from the local community as long as it meets the quality standards demanded by the company. Sourcing products from the local community has potential benefits, which includes the fact that it enables the company to have access to fresh produce straight from the farm. The transportation costs and pollution are minimized by buying from local farmers. Environmental pollution is of great concern to any company in today’s world.The local community is empowered through the company acquiring its supplies from the local farmers. The company is also able to help the local farmers to diversify into a variety of crops.The company also buys products form low income producers who meet the standards demanded by the company. This is done through the whole Trade programPrivate label products also form part of the company’s product list. The company’s bakery ensures that the consumers access the freshest of breads. The various types of breads on offer include European styled loaves, sandwich bread, pizza crust, cookies and desserts. Cornbread, foccacia, bagels, croissants, pies and cakes are some of the other products on offer at the company’s bakery. Tiny trapeze provides the company with confectionaries.The eggs used in the bakery, kitchens, bake houses are from free lens. The company also offers catering menu services where customers order online and pick their orders at the company’s stores.In the specialty foods section the company offers quantity cheeses, olives, chocolates, specialty sweets among other products.The coffees sold at the company’s stores are individually handpicked by Christy Thorns and Road master of Allegro Coffee Company. This process ensures high quality, great existing coffee. The coffee is then roaste d into different flavors. Allegro coffee is sourced from all over the world through partnerships.Included in the product list of the company are the flowers. The flowers sold by the company include fresh roses, lilies, orchids, hydrangeas and seasonal flowers e.g. fillips, peonies and sunflowers. All these flowers meet the Organic, Veriflora, Whole Trade, Rainforest Alliance and Fair Trade certifications. The flowers are from wild farmers other parts of the country and the whole over.The company also sells hand made gift baskets. The gift baskets can also be custom made. The baskets are then filled with the various gourmet tastes and products. Rechargeable gift cards are also available although not online or over the phone. The gift cards can be recharged in the USA or Canada with amounts ranging from $5 to $500.Whole foods Markets, inc. grocery department has a variety of products, which are locally and internationally made. The consumers are also provided information on the variou s products available in the company’s stores.The meat and poultry department offers game, duck, sausages, low fat cuts, range grow turkey and natural chicken. Consumers also receive custom cuts, cooking instructions (recipes) and personal recommendations.The company also has prepared foods department, which serves a variety of entrees, side dishes, soups rotisserie grilled products, sushi and sandwiches. These prepared foods are served in catering menus, which are available in selected stores.The produce department stocks a variety of fresh fruits and vegetables. These fruits are hand arranged. The selection ranges from the common fruits like oranges and apples to seasonal unique and specialty vegetables like cippolini onions. Cactus pears fruits and displays of freshly cut fruits,The seasonal section stocks a wide variety of sea products. The company is able to stock a fresh variety by controlling the whole process of seafood sourcing, processing and selling. The company als o stocks a wide variety of teas in its stores ranging from white, green, Oolong and black teas. Others include specialty, estate, flavored/scented chai, Russian, Suchong and lapsang sourchong, Pu’erh Gyokura and Kabasucha and Hoji-cha teas. Ice kind sweet teas are also stocked in the company’s stores. Herbal teas are also sold in the company’s stores.The company also stocks wide variety of wines.Overall strategy of the companyWhole Foods Market Company is a uniquely run business. The company is very selective on the products that it stocks and sells in its stores. Every product must meet the stringent quantity standards set by the company. This is the reason why the company is leader in natural and organic food retail in the world.The whole foods aspect means that the company gets its product supplies locally and throughout the world. Their products should be of the highest quality, minimally processed and with no artificial preservatives hence maintaining their natural taste and flavors. The company believes that natural food is the most nutritious. The products sold at the company’s stores have no sweetness, additives, colorings or preservatives.The empowerment of the staff so that they can make relevant decisions is also another aspect of the company’s motto. Employees are respected, treated equally therefore increasing their passion and motivation. The employees are a critical asset that will enable the company to achieve its objectives in terms of profitability and helping the community. Whole Foods Market Company Essay Thank you for reading this Sample!