The Impact Of Political Legal Environment On Business Marketing Essay

The Impact Of Political Legal Environment On Business Marketing Essay The political and administrative system in a country dictates policies formulation its implementation and control of business. Whenever there is a change in the political scenario of a country, there will be a change in economic policies. This is due to the fact that each and every political party does some promises with the people in their election manifesto. Business activities of a country are affected by the policies and directions, shelters and control exercised by the prevailing political system. The political environment of a country is influenced by the political organizations such as philosophy of political parties, ideology of government or party in power, nature and extent of bureaucracy influence of primary groups etc. political stability in the country, foreign policy, defence and military policy, image of the country and its leaders in and outside the country. The political environment of the country influences the business to a great extent The legal environment refers to the principles, rules and regulations established by the government and applicable to people. These regulations come through various legislations. The government has passed and enacted various Acts. Now due to globalization of economy, it became necessary to make changes in these Acts. Economic environment refers to the aggregate of the nature of economic system of the country, the structural anatomy of the economy to economic policies of the government the organization of the capital market, the nature of factor endowment, business cycles, the socio-economic infrastructure etc. The successful businessman visualizes the external factors affecting the business, anticipating the prospective market situations and makes suitable to get the maximum with minimize cost. IMF TALKS ON TRACK Minister of Finance and Planning Dr Peter Phillips moved yesterday to assure nervous Jamaicans and jittery international markets that a new International Monetary Fund (IMF) pact was on track for December. There is a delay in an agreement with the Fund. There is no negotiating, Phillip told the House of Representatives. There is no sticking point on which ourselves and them (IMF) have a divergence of any fundamental views. SOCIAL ENVIRONMENT The social dimension or environment of a nation determines the value system of the society which, in turn affects the functioning of the business. Sociological factors such as costs structure, customs and conventions, cultural heritage, view toward wealth and income and scientific methods, respect for seniority, mobility of labor have far-reaching impact on the business. These factors determine the work culture and mobility of labor, work groups etc. Guinness To Give $6.5 Million In Social Outreach Grants Ten Jamaican projects will today be presented with cash grants totalling $6.5 million by the Arthur Guinness Fund as part of its social outreach programme. The top three recipients will get $1 million each while the remaining awardees will each receive half a million dollars. Jamaicans have always been entrepreneurial and helpful. Thats why Guinness sought 10 social entrepreneurs who embody this ideal and who are committed to making positive changes in their communities, said Guinness brand manager Racquel Nevins. TECHNOLOGICAL ENVIRONMENT AND COMPETITIVE ENVIRONMENT The business in a country is greatly influenced by the technological development. The technology adopted by the industries determines the type and quality of goods and services to be produced and the type and quality of plant and equipment to be used. Technological environment influences the business in terms of investment in technology, consistent application of technology and the effects of technology on markets Technological and competitive environment Lessons from the LIME-Digicel war The social planner desires for the public to enjoy the maximum surplus from participating in any market. In a market economy, however, suppliers have the discretion of selecting the quality and price of their goods and services. The dilemma faced by the social planner is how to direct economic activity such that merchants choose to supply high-quality goods at the most affordable prices. Many are describing the latest developments in the telecoms sector as the beginning of a price war. While this description may be apt, it would be more instructive to appreciate what is unfolding as potent, demonstrable evidence of the importance of opportunity and incentives in social engineering. On June 15, telecoms provider LIME introduced its Talk EZ Plan. Under this optional plan, prepaid mobile subscribers complete calls to subscribers on LIMEs mobile network for $2.99 per minute and to subscribers on Digicels mobile network for $6.99 per minute (pro-rated per second used). This demonstrates that for consumers to benefit from participating in any market, suppliers must be given both the opportunity and incentives to offer high-quality services at the most affordable prices. THE BUSINESS PLAN Mission Statement A published document that details the agreed common aims of a business so that managers and staff may work with a shared sense of purpose. It is also a statement of the businesss core aims, phrased in a way to motivate employees and to stimulate the interest by outside groups. The gain in sports can improve the economy in a very positive way. Hence, a mission statement is formulated. To promote the wellbeing of each athlete that represents the country of Jamaica and ensuring that their attitudes and behaviour is accepted globally, to transfer the gains of the sports to enhance the countrys; image by donating to charity and sponsoring events, making it easy for them in the outside world and the potential to be an example for other country. We also provide products and services that foster and enables growth and development. OBJECTIVES The targets or outcomes that a business will attempt to achieve are its objectives. Overall corporate objectives might include survival, profit market share and growth. The most effective business objectives meet the following criteria: S- Specific objectives of what the business does M- Measurable the business can put value on the objectives A-agreed by all those concern in trying to achieve objectives R-realistic the objective should be challenging but also achievable by the resources T- time/specific time bound they have a limited when the objectives should achieve The gains in the sports have also makes objectives for which to be followed to improve the countrys business and economy. The maximizing of profits- the business will ensure that 50% of the gains will be towards the economy/government to improve infrastures and increases the standard of living of the country. Each major Olympics to increase the gains by 5% every 4 years All athletes have agreed upon the major objectives in the firm and takes it with deep pride and joy to achieve it as successful as possible STRATEGIES Maintain good customer relationship Promote communication to allow the public to be aware of the project that we are undertaking To maintain sponsorship to charities and other Non-Profitably Organisation Promote goods and services to foster growth and development TACTICS Employ a professional receptionist in the organisation so that customer service business will be effective Advertise in the newspaper, television and other means of publication so that the public can be well aware of the various happenings Employ a sales and marketing manager to gather information on the different charity events taking place and the need for sponsorship in the country Production manager is mandatory to ensure that goods and services are provides at the best quality. MILESTONES On the 29 of September a church ceremony was kept to start off the organisation activities On the 1st of October 2012 Sheikhina Reynolds was employed as the new Receptionist in the Firm. Her main duty is to ensure that good customer service is provided at all times. Hence, been effective and efficient while on her job. On the 5th of October the promotion and advertising was done. This was in aid for the public to be aware of the events and the good and services. On the 10th of October sick a meeting was attended to confirm the Charity Events to be sponsored On the 12th a Health Care Fair was kept for the community members. On the 15th of October a donation was made to the government DUTIES AND RESPONSIBILITIES The Divine Purpose, awesome and unimaginable, creates and sustains the universe. We cannot know that Purpose in the way we know other things. The Purpose cannot be formulated in words, because it abides beyond words, beyond images, beyond our minds, beyond knowing in the ordinary sense. If we could know the Divine Purpose, we would know God; indeed we may rightly consider God to be that Purpose itself. Although we cannot know the Unconditioned Purpose, we may participate in it more or less consciously, more or less intentionally. The Sacred Purpose communicates itself to all of us through our intuition of the rightness of a course of action. Faced with a choice, we have an opportunity to do the right thing, to be responsible. Thus, by following our conscience, we enter into a partnership with the Great Purpose. We can follow our sense of appropriateness, rightness, and opportunity to pursue the spiritual path, to serve others, to serve the future. MONITORING AND EVALUATING TECHNIQUES Evaluation is a way of reflecting what is being done in the organization. These were the methods used: Interview Questionnaire Observation Discussion Survey Analysis of records and data MARKETING OBJECTIVES Marketing objectives define what you want to accomplish through your marketing activities. There are several important factors to consider when establishing effective marketing objectives. SMART Approach = Setting specific, measurable, achievable, realistic and time specific objectives When setting objectives it is very important to ensure that your objectives are; specific, measurable, achievable, realistic and time specific, or SMART for short. The SMART approach allows you to effectively manage your marketing activities and importantly be able to determine how successful they have been and whether they have delivered the particular benefits sought. MARKETING STRATEGIES The role of the customer in the firms marketing planning? Marketing planning consist of coming up with marketing strategies that will help an organisation to accomplish its marketing objectives. Customers play a vital role in an organizations marketing planning, as they are the core purpose of the firms marketing plans. Marketing process Marketing process is the process of analyzing marketing opportunities, selecting target markets, developing the market mix and managing the marketing effort. The purpose of marketing process is to increase profit, customer value and satisfaction in an organisation. Brand equity Brand equity consists of a firms brand power, its value, recognition, strength and reputation of the brand compared to its competitors. Brand equity is important, because it increase sales and popularity of a company. Brand positioning Brand positioning is the process by which marketers create an image in their target consumers mind of the firms product or service, compared to their competitors. Brand unique selling proposition A brands unique selling proposition (USP) is the qualities of a product or service that makes it unique and different from its competitors.USP give the product a competitive advantage from its competitors. COMMUNICATION OBJECTIVES Communication Objectives are important because they serve as a bench mark in. Planning and decision making While in decision making process communication objectives plays an important role , i.e. how to develop a campaign/media mix selection /and allocating budget to diff. elements Measuring results The success and failure are relative to the objectives u have defined. Good objective are those which are measurable. Communication-based objectives. Sometimes marketers recognize that the prime role of IMC is to communicate and planning should be based on communication objectives. Specific objectives may be to: Increase the % of consumers in the TM who associate some benefit or advantage with our brand Increase the number of TA who prefer our brand over competitors Encourage the current user to use more frequently. COMMUNICATION STRATEGIES Communication strategies are common in the business world, where they are used as part of a business plan, detailing how to communicate with various groups of people. A single business may have multiple strategies for different categories of people, such as clients, investors, competitors, or employees. Some companies even have an internal communication strategy for communicating within the business itself. These strategies are used to determine things like what information to share with the clients or investors, as well as how that information should be presented. FINANCING Finance is the study of how investors allocate their assets over time under conditions of certainty and uncertainty. A key point in finance, which affects decisions, is the time value of money, which states that a unit of currency today is worth more than the same unit of currency tomorrow. Finance aims to price assets based on their risk level, and expected rate of return. Means of Finance can be: Personal Savings Loans from the Bank Close Family Members Other Lending Agencies INCOME PLAN YEAR 1 YEAR 2 Sales 123436 Sales 128347 Less Return Inwards 6578 Less Return Inwards 6500 Less Cost of Sales Less Cost of Sales Opening Stock 12000 Opening Stock 9760 Add Purchases 10580 Add Purchases 11220 Less Closing Stock 9760 Less Closing Stock 7564

Robert Crandall :: essays research papers fc

Leadership in Aviation American Airlines was under Robert Crandall's leadership from 1980, when he was named president and later chairman, until he retired in 1998. He possesses characteristics like intelligence, character, ability, and desire, all of which is needed to get things accomplished through people. American Airlines was transformed from a small, domestic carrier to one of the world's leading airlines with the largest jet fleet worldwide. American led the airline industry in the 1990's in revenues and operating income, and its parent company, AMR Corporation, was one of the top Fortune 500 companies under Crandall’s reign. Raised in Rhode Island, Robert Lloyd Crandall graduated from his state’s university and the University of Pennsylvania's Wharton Business School. He worked as a regional credit supervisor for Eastman Kodak and later, headed the computer programming division at Hallmark Cards. In 1966, he joined TWA (TransWorld Airlines) as assistant treasurer. He briefly left the airline industry in 1972 to become senior financial officer at Bloomingdale's Department Stores, but returned the next year when American made him its senior Vice President of Finance (Robert L. Crandall: Official Biography). From there, Mr. Crandall advanced to president. During his 18-year tenure as head of American Airlines, Robert Crandall and his self-empowered team formulated many of the innovations that helped to revolutionize the airline industry after deregulation, when many competitors went bankrupt. American was the first to recognize the value of filling empty seats with discounted tickets now known as "Super Saver Fares." These tickets offered deep discounts for advance-purchase tickets and outsold cheap charter competition. He was also quick to see the importance of restructuring and building a route system around central hub airports to which many airlines still use today. To keep American Airlines on top of the industry, one of Crandall's visions was to accelerate the company's efforts into the rich overseas markets. By tapping into voids created by Pan Am, Eastern Air, Braniff Int’l and TWA, Mr. Crandall’s ambition acquired promising overseas routes to Asia and Europe, and Latin America. Perhaps Robert Crandall's greatest contribution to the success of American Airlines was his vision in propelling the SABRE Group from an internal division of the company to one of the world's largest, privately owned computer networks. Conceived in 1959, the Semi-Automatic Business Research Environment served as an internal link between American's offices and ticket counters to help track reservations. When talks aimed at developing an industry-wide reservation system, broken down between travel agents and major carriers in the mid-1970’s, Crandall successfully marketed his airline's computer system throughout the world.

Informative Speech About Football

Informative Speeches Informative. jpg An informative speech provides interesting and useful information to the audience. The information is unique and usually not something that the audience would be acquainted with. Objects, processes, events or concepts: Informative speeches can be about objects, processes, events or concepts. This is not a limited list, but a general topic format that most informative speeches tend towards.The important thing to realize is that no matter which topic format the speech takes on, it can only be an informative speech if it conveys information that is factual, useful, instructive and/or enlightening to the audience. Introduction, body and conclusion: Most informative speeches are formatted with a defined introduction, a body of information and a conclusive ending. Clear, attention grabbing intro: The introduction to informative speeches should always be clear and catch the attention of the listeners.The introduction should lead up to the body of the sp eech in such a way that it is immediately grabs the interest of the audience. It should create a clear relation between the speaker and the topic as well as relating the topic or subject to the audience to pull them in and get them excited or interested in what is to come. It should create a clear outline of what is to be covered in the body of the speech and should do so in a clear and concise way to be effective and ensure that the audience is not bored from the start.Seamless transitions: When delivering informative speeches, the body should provide a smooth transition between the main points, ideas or concepts to convey all of the information effectively. This means that the speaker should, firstly, adhere strictly to the time limits imposed by planning ahead to present all of the information in a coherent manner and in a way that is easy for the audience to absorb and comprehend. The delivery should be natural and conversational; if it isn’t it will allow the audience to lose interest quickly and easily become distracted by the slightest diversion.The speaker should at all times demonstrate a vibrant enthusiasm or passion for the topic – if he is not enthused by it then there is no way he can expect his audience to be. The speaker should maintain eye contact stringently and progress from one point to another in a way that does not seem forced in any way, but seems to progress naturally without any breaks in momentum. Summarize at the end: When concluding an informative speech, the aim is to try and summarize the key points of the speech to reinforce the information in the minds of the audience.The conclusion of informative speeches should always be the means by which the speaker informs the audience that the speech is coming to an end, without actually saying so. It should review and repeat the most prominent concepts, ideas or aspects of the speech and should end the speech in the same seamless and natural way that is used throughout the sp eech. The important thing to note is that the conclusion is a vital part of the speech, and as such it should maintain the attention and interest of the audience until the very end.

Nike - 1270 Words

Nike is a successful company that has been in business since 1972. Throughout the decades, Nike has built up its brand to one that is respected and sought after. Nike has grown its brand name through the acquisitions and partnerships of many other brands (Hurley, Umbro, Cole Haan, and Converse) to provide to its customer different products that suit every athletic need. In order for Nike to gain success in its growth, the company follows the four functions of management: planning, organizing, leading, and controlling. External and internal factors play unique roles into how the company carries out each of these functions. In contingency to the functions, factors such as globalization, technology, innovation, diversity, and ethics affect†¦show more content†¦If these plans are not meticulously thought out, problems will arise and money will be lost. Because the project will be accomplished on, the other side of the globe technology will become an ever-growing factor in how Ni ke will organize their resources. Employees across the world will need to communicate with one another in an efficient manner, which forces Nike to use communication channels like videoconferencing so that all employees can share ideas in a face-to-face manner while they are countries apart. With videoconferencing, the ability to communicate in real time, will allow ideas of others to be implemented sooner. Being able to coordinate the human, financial, physical, informational, and other resources from anywhere around the world will help the organizational and controlling function of Nike. Innovation is at the heart of Nike’s business growth strategy and a key factor to Nike’s ability to gain a competitive advantage. To accomplish these demands, Nike wants to thrive in a global environment where human and natural resources are constrained. Issues ranging from climate change mitigation, rising oil prices and the declining availability of natural resources to popula tion growth, could affect consumers and business. As the earth moves to a low-carbon market, seeingShow MoreRelatedNike And Nike Vs. Nike1268 Words   |  6 PagesAdidas and Nike are two major athletic clothing companies on the market. The two brands are both commonly worn by athletes. Nike has endorsed some of the top athletes in the world. Take Michael Jordan for example, Nike created an entire brand off his name, â€Å"Air Jordan’s.† Adidas also has multiple athletes that advertise for them including soccer player David Beckham. The two companies have been in constant competition with their footwear and apparel for several years. Deciding between the two brandsRead MoreNike And New Balance : Nike937 Words   |  4 PagesNike and New Balance Introduction Nike and New Balance both are companies that sell sports apparel. Nike brand is one of the most popular brands and has been around years and has the popular slogan â€Å"Just Do It†. Nike’s goal is to make products to every person by making sports apparel that will decrease injuries, enhance performance, and lastly that will feel good to wear. On the other hand, New Balance is not as popular. New Balance is still trying to become one of the top brands for sports apparelRead MoreNike And Challenges Of Nike Inc. Essay1349 Words   |  6 PagesExecutive Summary Nike was founded in 1972 by Philip Knight and Bill Bowerman. The focus of this report would be an analysis of how Nike’s manages and delivers its service to its customers. It also looks into Nike’s emphasis on its product quality and innovative design to meet the ever changing consumer preferences. By looking at its current strategies that Nike adopt and its appropriateness, this report will provide you a better understanding on how consumer see Nike and challenges that Nike Inc. facesRead MoreNike : Nike, Inc.1965 Words   |  8 PagesNike, Inc. NIKE, Inc. â€Å"was founded by William Jay Bowerman and Philip H. Knight in 1964 and is headquartered in Beaverton, OR† (Nike, Inc.). NIKE, Inc. concentrates on NIKE Brand and Jordan Brand products divided in seven key categories: Nike sportswear, football, action sports, women and men’s training, basketball and running. The operating segments for its Brand are: North America, China, Japan, Western, Central Eastern Europe and Emerging Markets. Its wholly-owned subsidiaries include ConverseRead MoreBrand Analysis : Nike And Nike1300 Words   |  6 PagesBrand Analysis: a case study of NIKE Background of Nike: Nike Inc. is an American corporation that was founded in 1971 and extended its market to the globe. It is known as one of the largest supplier for sports-related products in worldwide. The company mainly focus on selling athletic shoes, sportswear and other sports-related products. In year 2014 its brand value was valued at 19 billion, making it the most valuable brand among all sports-related business. By the end of 2015, It had an incomeRead MoreNike : Business Analysis : Nike1484 Words   |  6 PagesNike Business Analysis Donny Otwell, Jasen Saavedra, Mohamed Takkouch Business 10 Mrs. Rochin December 5, 2016 Donny Otwell, Jasen Saavedra, Mohamed Takkouch Mrs. Rochin Bus 10 December 5, 2016 NIKE Although facing major competition throughout their history, Nike has been able to grow from a two-man team into a multibillion-dollar corporation in less than 40 years. Nike was started in 1971 after Phil Knight had done research with FormerRead MoreNike s Marketing Plan For Nike Essay962 Words   |  4 PagesFounded January 25, 1967, NIKE, Inc. (About Nike, 2016) became one of the biggest designing and marketing companies across the globe. A designer and marketer, Nike sells athletic footwear, apparel, equipment and accessories for men, women and children/infants. The company has three major brands as found on their product portfolio: NIKE, Jordan, Hurley and Converse. Their product is sold through-out North America, Central America, South America, Asia-Pacific, Africa, the Middle East and Europe andRead MoreCompetitive Analysis Of Nike Vs. Nike1497 Words   |  6 Pagescompetitors to Nike are Adidas, Reebok, Under Armor and Puma and the minor competitors are ASICS and VANS. In accordance with Porter’s 5 Forces, Nike has faced competition by using different and distinct capabilities in marketing. One attribute to such capability is its va lue or benefit offered to its customers. The intensity of competition from its competitors is high for each firm competes in various key areas of business. For example, Adidas has loyal customers who are soccer players, while Nike has highRead MoreNike s Financial Analysis : Nike2236 Words   |  9 PagesCornerstone University â€Æ' Nike Financial Analysis On January 25th, 1964 a hand shake changed the world. It was on this day that a track athlete, Phil Knight, and his previous coach, Bill Bowerman, from the University of Oregon founded Blue Ribbon Sports. Blue Ribbon Sports operated under this name for roughly eight years, and then became known as the globally infamous, Nike. In 1972 the first line of Nike footwear debuted. The company was so successful that in its first year Nike,Inc. cleared 1.96 millionRead MoreMarketing Analysis : Nike, Adidas, Aon, And Nike1161 Words   |  5 Pagesthe best favorable terms to woe more customers. The sports industry is not any exception. The industry confronts lots of competition amongst its key players. The major players as discussed in the industry analysis paper are Puma, Adidas, AON, and Nike. This essay entails a discussion of the competitive strategies each firm has over the others, giving reasons why the brands have been exceptional in the market. Strengths and weaknesses of Puma A SWOT analysis may be utilized to investigate into the