A multinational corporation (MNC) is a corporation Essay Example

A multinational corporation (MNC) is a corporation Essay Introduction Multinational corporations can be viewed from different positions ( ownership, direction, scheme and structural, etc. ) and have several dimensions. There have been statements in the yesteryear over the importance of each position and theoreticians have shared different positions when it comes to specifying a ‘multinational’ corporation. Franklin Root ( 1994 ) tries to set the statements to rest by giving some lucidity to the definition. Harmonizing to his definition, a transnational corporation ( MNC ) is a parent company that engages in foreign production through its affiliates located in several states, exercisings direct control over the policies of its affiliates and implements concern schemes in production, selling, finance and staffing that transcend national boundaries. ( Howard, 1994 ) In simplistic footings, a MNC is a concern which has production and/or distribution operations in at least two states, via subordinates, keeping companies, joint ventures, licenci ng etc. By and large, because of their munificence, transnational corporations play a powerful function in international dealingss and local economic systems. The survey analyzes one such planetary corporation which plays a major function both in the local economic system and the economic system at the planetary phase. We will write a custom essay sample on A multinational corporation (MNC) is a corporation specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on A multinational corporation (MNC) is a corporation specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on A multinational corporation (MNC) is a corporation specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Analysis Indian companies are fast emerging as Global participants with their foreign direct investing and acquisition activities holding gained land in the last twosome of old ages. ( Murray, 2005 ) Tata Group of Companies is one such company which has hit the universe phase large clip with its recent high profile acquisitions and ventures. The Group makes its presence felt today in every continent and over 43 states. The survey examines the growing of Tata Group, its abroad operations, geographic presence and its incursion scheme. Company Profile Tata Group of Companies Tata Group is one of India’s oldest and largest concern pudding stones. The concern spreads across 96 runing companies in seven concern sectors: information systems and communications ; technology ; stuffs ; services ; energy ; consumer merchandises ; and chemicals. It employs some 2,46,000 people and jointly has a stockholder base of over two million and market capitilisation of $ 57.6 billion. ( Web 1 ) It is a genuinely planetary corporation which made concern headlines with its winning command for Corus ( the UK based steel company ) . Some of the Group’s subordinates and its operations are analyzed below. Tata Tea Tata Tea was setup in 1964 as a joint venture with UK-based James Finlay and Company to develop valued-added tea. The group, which includes Tata Tea and the UK-based Tetley Group expands 40 states and is the universe s 2nd largest planetary branded tea operation. ( Web 1 ) The three major location where Tata tea subordinates are based are in India, UK and US. Tata tea entered the UK market with a Joint Venture with Allied Lyons ( proprietors of Tetley ) to make Tata Tea in 1993. ( Web 1 ) Subsequently on, in 2000, Tetley was acquired by Tata tea making one of the largest planetary tea trade names. Tetley, on its ain, sells over 60 branded merchandises and is the taking tea trade name in UK and Canada with important market portions in the United States, Australia, Poland and France. Tetley’s growing scheme focuses on custom-making the portfolio of offerings for each state. While Tetley is headquartered in London, Tata Tetley has an export oriented unit at Kochi in Kerala, India . Tata Tea Inc ( based in Florida, US ) is a subordinate of Tata Tea, established to run into specific demands of wellness witting US consumers. The company has its mill operations in Florida which is used to recycle or intermix instant teas brought from India. Tata tea besides has important presence in plantation activity in Sri Lanka through Watawala Plantations. ( Web 1 ) Tata Tea’s international portfolio of activities is steadily turning its presence in the remainder of Europe, throughout the Caribbean and lesser developed markets such as Bangladesh, Pakistan and Russia where Tetley was launched in 2004. The amalgamate worldwide branded tea concern of the Tata Tea Group contributes to around 86 per cent of its amalgamate turnover. ( Web 1 ) Tata Steel Tata Steel signifiers India s largest incorporate private sector steel company. It was late in the intelligence for its coup detat command for Corus ( the UK based Steel maker ) . Tata Steel successfully won thecoup detatcommand and is now the world’s fifth-biggest steel house. Corus itself was a planetary company formed out of the 1999 amalgamation of British Steel and Dutch group Hoogovens and employed 47000 employees. ( Web 2 ) It had a graduated table of 19 million metric tons and a presence in Europe with a important trade name name. Corus is now an unlisted company and is held by one of Tata Steel s subordinates on a 100-per cent footing. Tata Steel’s other major acquisition before Corus was Singapore’s steel house Natsteel. It acquired Natsteel to give itself a bridgehead in seven states, including Australia. Before thecoup detatof Corus and Natsteel, Tata steel was chiefly a place based company and Corus represents its first enlargement outside of Asia. It does hold has subordinates in Sri Lanka ( ajoint venturewith Lanka Special Steel ) . Tata Steel’s typical advantage lies in the efficiency of its operations and inexpensive altogether stuffs which has earned itself a alone ticket of being the lowest cost steel manufacturers in the universe. Tata Consultancy Services Tata Consultancy Services ( TCS ) is one of the taking information engineering companies in the universe holding over 50 planetary bringing Centres. Its clients include seven of the top 10 corporations in the Fortune 500 list of the largest corporations in the United States, corporations such as IBM, GE etc. ( Web 3 ) Through its consulting services, TSC helps clients to optimise their concern processes to guarantee faster and accurate consequences. It besides provides client such as GE proving integrating and proving solutions. Its outsourcing maps allow companies like IBM to concentrate on their nucleus operations. TCS besides offers cognition based outsourcing for clients like Danone ( France ) through which it spouses to do its IT substructure flexible, scalable, and secure, while maximising public presentation. Tata Motors Tata Motors is India s largest car company which began its fabrication with a 15-yearcoaction understandingwith Daimler Benz of Germany. It is a quickly turning company and like other Tata Group of companies pursues growing through amalgamations, joint ventures and acquisitions. In 2004, itacquiredthe Daewoo Commercial Vehicle Company, Korea s second-largest truck shaper, now named Tata Daewoo Commercial Vehicles Company. ( Rao, 2003 ) Following Year, Tata Motorsacquired a 21-per cent interestin Hispano Carrocera, a reputed Spanish coach and manager maker, with an option to get the staying interest every bit good. This acquisition has made Tata Motors the universe s fifth-largest medium and heavy commercial vehicle maker. It nowexportsvehicles to Europe, Africa, the Middle East, South and South East Asia and Australia and hasassembly operationsin Malaysia, Bangladesh, Ukraine, Kenya and Russia. Some of its other associates include Tata Cummmins ; a joint venture with US based engine maker Cummins, Telco Construction Equipment Company ; a joint venture with Nipponese based Hitachi Machinery for earthmoving and heavy equipments like Cranes etc. ( Web 3 ) Tata AutoComp Systems ( TACO ) Tata AutoComp System is a genuinely planetary engineering company in the automotive sector offering merchandises and services to vehicle and constituent makers every bit good as end-users of cars. It has built its base through partnerships and joint ventures with planetary constituent and vehicle makers. Its three major countries of concern include fabrication, technology and supply-chain direction. TACO has entered into a joint venture with fabrication companies across the universe which include states like Japan, South Korea, US and Germany. Some of its joint ventures are with Johnson Controls ( US ) , Yazaki Corporation ( Japan ) , CHKK ( Japan ) , Ficosa International ( Spain ) , Nifco Corporation ( Japan ) and Stadco ( UK ) ( Web 1 ) Tata BP Solar Tata BP Solar is ajoint venturebetween Tata Power Company and BP Solar, one of the largest solar companies in the universe. It uses state-of-the-art engineering to offer high-quality, advanced solar solutions that cater to the demands of single clients, big establishments every bit good as full communities. ( Source ) Tata BP solar can besides be termed transnational because it exports its merchandises and systems to a host of states and more than half ( 60 % ) of its gross revenues come from exports with more than 95 per cent of the exports traveling to Europe and America. Tata Group’s other large acquisitions list includes the acquisition of South Korean Automaker Daewoo. Daewoo’s domestic market portion has risen from 26 per cent to 33 per cent after the coup detat. ( Newing, 2005 ) Ratan Tata, the president of Tata Group is a steadfast truster in spread outing globally through acquisitions and joint ventures. He advises other Indian companies to turn organically and through amalgamations and acquisitions because he feels that a broader base equips a house against economic downswings. In line with his thought, the Tata Group’s planetary amalgamations hasn’t stopped. It sees the hotel section as the following large chance for growing and is actively seeking to turn its Tata Hotel Group by amalgamations, acquisitions and joint ventures with major hotel groups. Features of a good transnational company Company’s internationalisation and abroad enlargement affect all facets of the concern. For a MNC to be successful, the first measure is to take the right manner of incursion ( Acquisition, Stakeholder, Joint Venture, Licensing etc ) . How a company enters into understanding with the other company is a strategic determination which can take to a successful relationship. Eg. come ining a Chinese market can be really different to the US because Chinese companies and the authorities has greater control over distribution channels which can act upon the incursion scheme. Government ordinances, once more, can play a large portion in taking the best incursion scheme. Eg. Companies can merely keep up to 5-10 % interest in an Indian retail sector harmonizing to authorities ordinances. But, taking the right incursion scheme is merely the first measure and does non vouch success. Other facets such as concern scheme, Research and Development, production, procurance, gross revenues A ; se lling, trade name A ; rational belongings, direction, human resources, financing As ; accounting, IT direction hold to be considered. Companies could besides be required to alter their organisation construction and the manner work is carried out. Eg. A US based company come ining into a joint venture with a Nipponese house may hold to flatten its organisational construction harmonizing to Nipponese demands. Cultural and societal factors besides come into image, particularly, if the amalgamation is between two companies coming from different parts. Eg. Japan and US. All these facets of the concern has to be clearly understood before make up ones minding on a scheme. Decisions Tata Group of companies has been successful because of its model of communicating and value systems which cater to the demands of different demographic groups around the universe. Its experience in diverse sectors has armed it with the ability to visualise the merchandise from the end-users point of view which is critical to any MNC’s success. ( Skapinker, 2005 ) The Group and its transnational subordinates has helped further the development of domestic intermediate good bring forthing houses and has had a positive impact on the development of domestic fabrication houses and later on the Indian economic system. Through its Tata Consultancy, Tata Motors and now Tata Steel trade name, it has shown the manner to other Indian companies who have ever shied away from amalgamations and acquisitions. Taking a cue from Tata Group, other Indian companies have began spread outing their concern overseas. Tata Group have besides contributed to bettering the fabricating state of affairs in India and across the universe through good fabrication patterns. Another ground for its success is its control of abroad subordinates which is much stronger than that of Western companies. The group as a whole is cohesive and integrated which allows it to meet on ends. Ratan Tata ( 2006 ) sums up his Group’s success by saying that the group had allowed the companies that were taken over to retain the face, touch and experience of a local company while still pull offing to incorporate merchandise programs and schemes. Mentions Most of the company specific information was taken from Tata Group’s web site and Company Reports Books and Diaries Howard V. Perlmutter ( 1994 ) , The Tortuous Evolution of the Multinational Corporation, Columbia Journal of World Business, pp. 9-18. Lacity, M.C. , Willcocks, ( 1995 ) L.P. A ; Feeny, D.F. , ‘IT Outsourcing: Maximize Flexibility and Control, ’Harvard Business Review, May-June, pp.84-93 Murray, S ( 2005 ) ‘Managing Relationships’Financial Times, London, 2 June, p.29 Newing, R ( 2005 ) ‘Tactical out Tasking for operational benefits’Financial Times, 1 June, p.4 Prahalad, C.V. A ; Hamel, G. , ( 1990 ) ‘The Core Competence of the Corporation, ’Harvard Business Review, May-June, 79-91 Rao, H. R. , Nam, K. A ; Chaudhury, A. , ( 2003 ) ‘Information Systems Outsourcing, ’Communicationss of the ACM, Vol.39, No.7, pp.27, 28 Skapinker, M ( 2005 ) ‘Changing industry enters fresh era’Financial Times, London, 2 June, p.28 Web sites Web 1:Tata Group( online ) ( cited on 14 March 2007 ) Available from lt ; URL: //www.tata.com/ gt ; Web 2:Tata Corus But Who’s following( online ) ( cited on 14 March 2007 ) Available from lt ; URL: //http: //www.fool.co.uk/news/investing/company-comment/2006/10/19/tata-corusbut-whos-next.aspx gt ; Web 3:Tata Corus( online ) ( cited on 15 March 2007 ) Available from lt ; URL: // hypertext transfer protocol: //www.ft.com/cms/s/887968fa-54d7-11db-901f-0000779e2340.html

10 side jobs for college students to make money in 2018

10 side jobs for college students to make money in 2018 Being in college does not mean that you should not take part in profitable business activities. It would not hurt to earn extra income and have prospects for a future business endeavor. In the current economy, it is no secret that tuition fees and expenses increase by the day. If you can get time for a social life, then you can easily create time to start and manage a small business. Take a look at these ten side job ideas for college students. 1. Freelance writingIf you are a skilled and creative writer, then you should consider starting freelance writing. It is easy to launch because you only need to invest in a computer and internet. Make use of the loads of websites that offer writing jobs and get ready to earn a good income from this investment.2. Graphics servicesOffering graphic services is also one of the best investment ideas for students who study arts or those who are good in graphics. You need to become aggressive in marketing your skills and portfolios to potential clien ts either online or physically. Such a service is likely to grow into something bigger even after college because you could land a long-term contract.3. Forex tradingForex trading is another interesting investment to engage in while still in college. The process of trading currencies online can be quite risky. It is important to consider the tools that you use to carry out your trade. Make sure you use the right host to access your trading platform. A VPS is critical for high speed forex transactions. Find out how you can boost your Forex trading abilities. However, you need to take your time to master the skill through experience. Online tutorials can also help you become a professional forex trader. Master the needed analytical skills and get ready to earn a fortune.4. Selling hair care products and extensionsSelling of hair related products is one of the best investments for college students, especially ladies. It is easy to start and manage. You can easily combine it with your s tudies if you plan your time well. It will help you master marketing skills and also how to deal with competition.5. Fitness trainingIf you are into fitness, then you should consider taking up fitness training as an investment. You can work in a particular gym as an instructor. Alternatively, you can work as a mobile personal trainer. If you are smart about the markets you explore, you could earn a good fortune.6. Sell softwareLately, selling software has become among the best investments for college students. You simply need to identify a task and simplify it through software. For example, you can create software that helps people manage online files. It is no secret that there is a huge market software today. There is no doubt that you will get a good income from selling software.7. Tutoring servicesAnother smart investment idea is offering tutoring services. Identify an area of study in which you excel and tutor people who need such services. You can either work in a peer-tutorin g center or register with your college as a tutor. If you want to do it independently, consider making use of the online tutoring platforms.8. Event organizerThe college social scene is always wrapped with a series of events. You can capitalize on that and earn good money. Take part in event management and promotion. You need to have exceptional organizational and communication skills, if you want to be successful in this business venture.9. Sale of cakesIf you know how to bake cakes, then you should try turning this into a business venture. Aside from the fact that you can retail your cakes to students during various vents, you can also bake for weddings, anniversaries and birthdays off campus. With enough experience, you can open your bakery after college.10. Jewelry makingJewelry making is a good way to invest while still in college. You can start off by making simple friendship bracelets that you can sell online or in hostels. If you want to make a good profit, avoid using expen sive material like gold and silver. Try creatively using available materials.With these ideas, you do not have to wonder how to invest as a college student. Plan your time well and engage in these ideas to earn extra cash. You might be surprised that the simple idea could materialize into a big company. Start investing today and save yourself the hustle of looking for a job after graduation.About the author:Caroline is a writer with years of experience in business administration. She enjoys meeting new people and reading more books to get inspired for her own book. Her twitter, @BCarolinebird12.

Special Populations Health Care Essay Example | Topics and Well Written Essays - 2000 words

Special Populations Health Care - Essay Example utilizing the resources of Department of Health and Department of Education, involving primary and secondary school administrations, engaging the misinformed parents, and signing up well known and relatable role models. According to the latest statistics from US Census Bureau, the amount of population between 10 to 24 years old is approximately 1,726,672, which shows that there are more than a million individuals above the age of 10, and below the legal drinking age of 21 years old (US Census Bureau, 2010). Furthermore, according to the research conducted by the Department of Human Services of New Jersey, an alarming fact discovered is that the local youth have professed â€Å"experimenting with alcohol at a rate above that reported nationally.† Also, it is found that the average age, among the youth, of consuming alcohol for the very first time is 11 years, whereas, around 407,000 individuals are committing underage drinking every year (Division of Addiction Services, 2008). Additionally, other surveys of New Jersey high school students have indicated that around 72.1 percent have consumed a kind of alcoholic beverage at some instance in their lives, and also, female students reported to an increased underage drinking as compared to male students. At the same time, the white and Latino students professed to a greater alcohol use as compared to African American and other ethnic students (Division of Addiction Services 2009, p. 15). In an another study conducted within the high schools, by the New Jersey Department of Education, it was found that the alcohol related incidents, such as violence and vandalism, have increased 14 percent between the years 2007 and 2009 (Hendricks 2010, p. 8). In addition to the large number of the youth involved in alcohol abuse, the massive cost associated with this societal dilemma is definitely an eye opener. According to the latest research conducted by the Pacific Institute for Research and Evaluation, in collaboration with

Imformation based decision making Essay Example | Topics and Well Written Essays - 2750 words

Imformation based decision making - Essay Example The importance of decision-making cannot be underestimated. Indeed, the success or failure of any business primarily depends on the quality of decisions made by the management. Most of the successful global cooperation’s are a reflection of good decision-making strategy. A lot of investment both in time and resources is directed towards the decision making process. However, it is important to note that making sound decisions primarily depends on the amount and quality of information at hand. This makes it important to consider information as one of the core requirements in sound decision making both at an individual and corporate level. This paper therefore discusses the different aspects of information-based decision-making. It seeks to discuss this topic within the realms of what has been covered in the course of management. However, extra knowledge on decision-making has also been mined from other sources. Information It is very futile to make any decision without profound background information regarding all the possible outcomes. This makes information the core requirement in making decision. There are different aspects of information that are worth discussing since they affect either directly or indirectly on the decision making process. There is a major difference between data and information. Data refers to facts or figures in their basic or raw form. For instance, 11, 32, 98, 58, 91, and 74 refers to data. Values such as ? 58.00, ?1200, ?223.50, and?558 refer to financial data. In both instances, the data does not make any meaning under any context (Black, 2009). However, the data can be processed to give it meaning. It is also important to note that processed data or information can fail to make meaning outside a given context. Information refers to data that has been organized such that it makes meaning within the context of consideration. Information can be either formal or informal. For information to be useful in decision-making, it has to be communicable to the relevant stakeholders, it must be presented in a language that users can understand without misinterpreting, it must be in a form that can be utilized, and finally it must be relevant to the subject of consideration. Information to be used in decision-making can be classified in two major categories. It can be either formal or informal. Formal information is usually presented in a familiar format, has a degree of relevance and accuracy, and uniquely structured. However, the information may be inflexible and may sometimes disregard sociological perspectives. On the other hand, informal information is quite flexible and more detailed though it may be inaccurate. Information and Law It is very imperative for any person using information-based decision making to understand that certain types of information have legal implications. This is more profound in business organizations. The law regulates many processes of handling information and as such, caution should b e exercised to ensure the entire legal infrastructure is respected. For instance, the Data Protection Act of 1998 was enacted to ensure that information is handled with caution to protect its integrity, privacy, and users. The data protection laws ensure that data handlers do not manipulate the data for personal or malicious reasons but instead use the data for the best interest of the subjects. While making business decisions, all legal parameters should be followed and information handled within the realms of the law. It is unethical to use data or information to make business decisions that are not permitted by the law. For example, a business may use information unlawfully to gain unfair advantage over other competitors. Although the decisions made from such information may seem exemplary, legal

Supply Chain in business organization Essay Example | Topics and Well Written Essays - 1750 words

Supply Chain in business organization - Essay Example This paper will look at the supply chain of Dell Incorporated. The rationale for choosing Dell is the recognition it gained for its efficient supply chain. The company's business model is based in five key strategies namely, rapid time to volume, products built to order, elimination of reseller markups, superior service and support, and low inventory and capital investment (Kapuscinski, et al 2004). Michael Dell, who is also regarded as the computer industry's longest tenured chief executive officer, founded Dell Computer Corporation in 1984. Later in 2003, the company changed its name to Dell, Incorporated. The company is one of the most famous manufacturers of computer worldwide, which caters to the needs of individual and corporate clients with a very unique business concept (About Dell 2004). Dell Incorporated is headquartered in Rock Round, Texas. Dell, Inc. and its subsidiaries are actively involved in the design, development, manufacture, marketing, sale, and support of a range of computer systems and services worldwide. The main business activity of Dell is in the provision of products and services to customers, which enables them to establish their information technology and Internet infrastructures. Dell offers a wide array of products and services to its clients. ... 2005). Currently, Dell is the third largest computer manufacturer in the world. During 2004, the company generated a total net income of $41, 444 million. The company also generates employment for a total of 46, 000 employees (Dell Inc. 2005).. Dell's Supply Chain Traditionally, personal computers were manufactured in large volumes, forwarded to distributors and were sold individually to customers. This supply chain became problematic as it requires a huge level of inventory and small set of configuration for customers. Dell introduced a new supply chain which rests on minimizing the costs of inventory and customization according to a client's specification. Dell employs a just-in-time inventory strategy which allows the movement of inputs only when a customer places an order. Table shows the flow of material in Dell's supply chain. The company's supply chain begins when a customer places an order through telephone or online via the company's website. Dell processes the order by undertaking a financial evaluation (credit checking) and configuration evaluations (checking the feasibility of a specific technical configuration). After passing these two evaluations, the order is forwarded to the company's manufacturing plant in Austin, Texas for assembly. Dell's plant notifies the company's suppliers and request the components needed for the customer's specification. It should be noted that Dell takes care only of the CPUs assembly while monitors are directly outsourced from other suppliers (Kapuscinski, et al 2004). Figure 1. Dell's Supply Chain Delivery of components to Dell's manufacturing plant in Texas is relatively faster than its counterparts in the industry. It is

Relationship Between Marketing and Consumer Demand

Relationship Between Marketing and Consumer Demand From the past decades to the new 21st century, the global economy had grown vastly over the years and the organisations had come to a realization of the importance of customer demands and the need for marketing. For most of the companies, their main objective was to make a certain amount of profit. Profit can be earned by satisfying the customers’ need through the use of marketing philosophies. Hence, customer value is an essential component for marketers to examine through the process of producing a product/outcome. In order to understand marketing and consumer demand, we will have to first elaborate the concept of what is marketing and look at the customer values. And the remaining essay would elucidate the relationship between the two. No matter in what type of industries or how large were the organisations, the company would have a certain amount of skill in marketing. So, what is marketing? Most of the people may picture a salesman straight away as they believe marketing were equivalent to the word ‘selling’. However, selling was only one of the several functions of marketing. â€Å"Marketing is the activity, set of institution, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.† (AMA, 2013) The first part of the definition, ‘activity, set of institution, and processes’ recognizes the broad scope of marketing. It indicates the roles/functions that need to be performed by marketers such as perform market researches and choosing target markets. The second part of the definition is ‘creating, communicating, delivering’. This suggests that marketing is to get the right goods and services to the right people at the right place at the right time at the right price (Elliott, Greg, Thiele Waller, 2012, ). This part of the definition included the creation and the delivery process of marketing. The third part of the definition ‘exchanging offerings that have value’ includes the process satisfying customers’ needs and wants through exchange which is one of the ways for individuals to get what they desired by offering certain things that the other party desired. For instance, money or other products. The last part of the definition â⠂¬Ëœcustomers, clients, partners, and society at large’ outlines the beneficiaries of the process of marketing. The benefits were not only received by the organisations and the consumers, the suppliers and the society can also gain benefits from marketing. The society can be benefited from marketing as marketing creates employments and society welfares and wealth as more people are spending and thus indirectly speeds up the GDP. Marketers have to perform functions such as identify the need, development of the product, pricing, distributing and promoting the product. Their main aim is to make selling superfluous. (Kotler Philip, 1983, p. 4) Apart from the definition, marketing can also be examined from the five philosophies of marketing. The production philosophy assumes the consumer would favor in the product and the main aim is to improve the efficiency of both production and distribution. The product philosophy looks at the quality of the product while assuming the consumers would favor the product. The selling philosophy involves organisations stimulate customer’s interests. The marketing philosophy questions the organisation, whether they did satisfy the customer’s needs efficiently and effectively or not compared with their competitors. And lastly, the societal marketing philosophy considers whether the organisation enhanced the consumer’s and the society’s well-being based on the marketing philosophy. For a product such as the Membership to Zoos Victoria, the marketers would have done market researches and targeted the membership to families and children as they had packaged a lot of benefits for children or family. For instance, there are 15% discounts from the stores in the zoo. Membership to Zoos Victoria also creates and deliver the good at the right time and right place, the product can be brought from online or at the zoo and even if the consumers purchased the membership after the visit to the zoo, they could get refunds for the ticket money. As mentioned in the previous, the zoo’s main target is family and children, as the kids can satisfy themselves while they visit the animals, the exchange was proceeded as the consumers, parents/families does gain happiness within the tour. Before we discuss about the customer value, I believe it is essential for us to understand value. Value is the worth, desirability or utility (Grà ¶nroos, C., 1997). On the other hand, customer Value is the difference between the benefits a customer sees from a market offering and the costs of obtaining those benefits (Quester, P., 2007). By all means, in order to make customers receive the benefits, they would have to give up certain things for the exchange of the product. In decree to get better acknowledged about the customer value, we can apply the diagram beneath. Functional/instrumental value is concerned with the products usability; the products unique characteristics and its desired function. This value is basically generated by the purchase and use of the product. Under the functional value, there are three main areas the correct attributes, appropriate performances and outcome. The correct attributes concerns with the characteristics a product has as consumers would prefer to buy a product that has the most suitable characteristics that they desired. Appropriate performances look at the quality of the product. So, the customer would be satisfied if the product is able to perform as well as it was appeared in its description. Lastly, the appropriate outcome considers whether the product reaches the outcomes that the consumer demanded. The experiential/hedonic value looks at the products ability in creating experiences, feelings and emotions of its users. For this value, there are four parts to it sensory, emotional, social/relational and epistemic. Some retailers focus on sensory value (such as aesthetes, ambulance, aromas, feel/tone) (Smith Mark, C., 2007). The third beneficial value is the symbolic/expressive value. This value is concerned with the extent to which the product gave its user a certain degree of self-worth or self-value. It is also a value that connects with personal meanings of the product to particular consumers. The social meanings of how the others think about you and conditional meanings such as Valentines rose or the dumplings that we have for Chinese New Year Festival. In order to have the benefits, customers also has cost/sacrifice values. This can be economic losses, risks associated with the product, personal investments and psychological losses. So, by knowing the customers concerns or hold back in the process of purchasing a product, the marketers would look at the costs and tries to minimize the costs so products can be sold more efficiently. For the Victoria zoos, its product: the mem bership of zoos Victoria has complied with the four values. The product does provide services/tours for its members and it has appropriate performance and outcomes (functional values). Furthermore, the membership also blends in with emotional, relational and epistemic values as the members can both enjoy the tour and learn knowledge about the zoo animals at the same time. It also helps to enhance the relationships between the consumers (families). It gave its consumers the experience to have a close interactions with the animals. The membership contains symbolic values as it carries out personal and social meanings. On the membership website, the campaign was focused on children or family relationship and it also mentioned about the fees for membership would be used for saving extinction animals. This would make the consumers of the zoo appears to be morally respectful to the society as they are indirectly helping/saving animals. Marketing and customer value has a close relationship. Customers are the core of marketing as the consumers would only buy products that they strongly desired. Thus, in order for the company to be successful, organisations would have to be customer orientated. Before organisations produce their product, a certain amount of market research would be made and these researches would have focused on the consumer needs. As more and more businesses had opened locally and globally, each organisation faces with a greater extent of competitions, no matter in quality, price or service. This growing fierce competition had led organisations to put strong emphasis on customer value and their needs. Therefore, when companies creating their product, they would put consumers values into the consideration so their product can outweigh the competitors’ products. The same concept was also adopted by the Victoria zoo, in their product, the membership to zoos Victoria. Consumers are able to receive benefits from the exchange process as their values being fulfilled by the product. For instance, members can visit new exhibits prior to the non-members, customers and there are 15% discounts for any purchase at the zoo stores. The consumer can also receive benefits such as the freedom to visit all the zoos in Victoria and there are special name cards for individual kids. These characteristics would satisfy most of the customers as they would feel being welcomed and well considered by the zoo. The zoo’s welcome letter also addresses themselves as a family, which would made consumers to felt being a part of a family. Overall, the membership of zoo Victoria is a successful product as its advertisement campaign was very well presented, there are considerations for the customer values and it adopts the marketing philosophies well through the product. For the purposes of gaining more consumers, the organisations must have a strong understanding in marketing, both as its definition and its five philosophies and in the concept of customer value. When marketing and customer values are being understood by companies, the organisation, customers and the society can all gain benefits from it as businesses can earn more profit, customers can enjoy their life by using the product and the society can gain benefits through the interactions between the two parties. Reference List America Marketing Association – AMA. (2013) Definition of Marketing. Retrieved from https://www.ama.org/AboutAMA/Pages/Definition-of-Marketing.aspx Elliott, Greg, Sharyn Thiele, and David Waller. Marketing. 2nd Ed. (pp. ) Milton, Qld.: John Wiley and Sons Australia, 2012 Kotler, Philip. Marketing and Human Needs. Marketing in Australia. (pp. 4) New York: Prentice-Hall, 1983 Grà ¶nroos, C. (1997), â€Å"Value-Driven Relationship Marketing: From Products to Resources and Competencies,† Journal of Marketing Management, 13 (5), 407–419. J. Brock, S., Mark, C. (2007) Customer value creation: a practical framework. Associate Professor of Service Management, Faculty of Business, University of Victoria, British Columbia, Canada Quester, Pascale G.. Chapter One. Marketing: creating and delivering value. 5th Ed. (pp. ) North Ryde, N.S.W.: McGraw-Hill Australia Pty Ltd., 2007. Smith and Colgate. (2007) Customer value creation: a practical framework, Journal of Marketing Theories and Practices. Vol 15, No. 1, pp 7-23

Frankenstein as a Symbol of Struggle Between Enlightened and Romantic P

Potential explanations or answers to current philosophical dilemmas are often presented through temporally relevant works of literature. The Romantic Era of the late eighteenth and early nineteenth century is characterized as a time in history in which aristocratic social and political norms of the Enlightened Era were radically investigated and questioned. For Enlightened thinkers, the idea of â€Å"being† was composed of three essential parts, the true, the beautiful, and the good. Isaac Newton’s contributions to scientific method were fascinating in the respect that they seemed to provide truths regarding quantitative matter. Yet his science failed to provide us with knowledge of all qualitative matters, such as morals and aesthetics. With Newton’s laws held in such high regard, the model of being was decomposed to simply the â€Å"true,† or scientific knowledge which is recognized and confirmed through his laws of motion, proceeding to exclude all matt ers which Newton’s lens could not be pointed. It is obvious that problems would arise as a result of Newton’s advancements. Qualitative matters could not be explained through Newton’s science, creating a sense of bewilderment. People began to question whether certain quantitative matters actually pertained to all aspects of life. Rousseau, whose writings contributed immensely to Romanticism, proposes a new model of â€Å"being,† which is later confirmed by Kant and Schiller. His new model strengthened the enlightened ideas of being, and allowed for the application of â€Å"being† to both the quantitative and qualitative. Mary Shelley’s â€Å"Frankenstein† provides an explanation to the struggle over â€Å"true being† between Enlightened and Romantic thinkers while exemplifying Romantic thought on pursuing p... ...he significance of the philosophical dilemma between Enlightened and Romantic thinkers is exemplified through Mary Shelley’s Frankenstein. This symbolic literary work provides readers with insight to the problem philosophers of the time faced when dealing with the idea of true being. Through the monster, the townspeople, and Walton, we are able to gain a complete understanding of the situation Rousseau, Kant, and Schiller dealt with. In the end, it is clear that in order to experience true being and beauty one must not rely solely on Newton’s scientific lens, but must also understand the quantitative matters such as morals and ethics. Works Cited Rousseau, Jean-Jacques, Angela Scholar, and Patrick Coleman. Confessions. Oxford: Oxford UP, 2000. Print. Shelley, Mary Wollstonecraft, and Joseph Pearce. Frankenstein. San Francisco: Ignatius, 2008. Print.