Disney vs. Pocahontas essays

Disney vs. Pocahontas essays There are many different versions of the famous story of John Smith and his relationship with Pocahontas. John Smith was a very famous explorer. He traveled to America in the Name of England to settle new lands for England. One of these lands that he went to settle was Jamestown. Pocahontas was the daughter of Chief Powhatan. It is rumored that she saved John Smith s life. She was an adventurous young woman who was not scared of much. She liked to take risk and did not blink twice. It seemed that she was a very compassionate person. During one of his many explorations, it is rumored that John Smith encountered a beautiful woman named Pocahontas. Although we do not really know much about when, how, and exactly where was there initial meeting, there are many different stories about their relationship. John Smith was always known as a tall tale writer, so his version of the relationship with Pocahontas has to be analyzed carefully. In The General History of Virginia John Smith wrote of his first landing on Jamestown and of his relationship with Pocahontas. He described that Jamestown was laid out on swampy, unhealthy ground. His company came to Jamestown for the fruit fullest soil and to establish homes there. He made them out to be people who were nice to the savages and he made the savages to be people who were mean to the settlers. John Smith said that the savages captured him. It seemed that he did nothing to them. He then continues to when the Chief Powatan summoned two savages to grab stones and put his head on a rock to stone him. Then this is when he first speaks of Pocahontas. How she put her head on top of his to save his life. This is the relationship that he had with Pocahontas. This is the only part that he speaks of a woman named Pocahontas, there isnt much written about her. ...

5 Nursing Leadership Styles You Need to Utilize as a Nurse

5 Nursing Leadership Styles You Need to Utilize as a Nurse If you work in the healthcare field, especially in nursing, your focus might (understandably) be on direct patient care and teamwork with other medical professionals to make sure that patients are getting that best care. But as a nurse, you’ve also got career goals for yourself, which likely include advancement and moving up the ranks through promotions and job changes. Whether you’re just starting out as a nurse of want to level up, it’s time to figure out what kind of nursing leadership style works for you as you get ready to take on more managerial roles throughout your career.According to the American Association of Nurse Assessment Coordination (AANAC), there are five main leadership categories into which nurses tend to fall. Let’s look at each one.1. Autocratic LeadershipAn autocratic nurse is The Boss, full stop. A nurse who leads using this management style makes all decisions and gives specific orders and directions to subordinates, and tends to d iscourage questions or dissent. There’s also a low tolerance for mistakes and the people who make them.When this style works best: For simple or straightforward tasks, or making sure that strict legal or medical guidelines are adhered to. It can also help in emergency situations, when there needs to be a strong voice giving direction.When this style doesn’t work so well: When a nurse manager wants to build trust and teamwork among other team members, or encourage creative problem solving.2. Laissez-Faire LeadershipThe laissez-faire nurse is the opposite of the autocratic nurse. In this style, the nurse provides no specific direction for team members, and adopts more of a hands-off approach to managing.When this style works best: When the nurse’s team is already experienced and self-directed, and doesn’t necessarily need a general giving orders.When this style doesn’t work so well: When specific decisions need to be made and implemented, or team mem bers are inexperienced.3. Democratic LeadershipThe democratic nurse manager takes input from subordinates, and encourages open communication. The decisionmaking ultimately with the manager, but stakeholders and team members are asked for honest feedback, and given feedback in return.When this style works best: When the nurse wants to build relationships with staff members based on trust and accountability, or when improving systems and processes is a priority.When this style doesn’t work so well: When a concrete decision needs to be made quickly, gathering feedback and testing the waters with team members isn’t necessarily helpful or feasible.4. Transformational LeadershipThe transformational (sometimes also called visionary) nurse manager is focused on the big picture (improved patient care, better systems and processes), and how to get there.When this style works best: When the workplace (in this case, a hospital, clinic, or other healthcare facility) is in need of b ig changes and improvements.When this style doesn’t work so well: When day-to-day decision making is required on small or specific issues.5. Servant LeadershipThe servant nurse leader focuses on team success via individual team members. Despite the meek-sounding name, this management style has been gaining popularity over the past few years. This leader targets team members’ needs, ensuring that they have the skills, relationships, and tools to achieve individual and group goals.When this style works best: When a team has diverse members with different tasks and responsibilities.When this style doesn’t work so well: When top-down decisions need to be made, or a group needs to follow collective directions.So which type of nurse leader are you, and what kind of leadership style works best for your job and your career goals? We’d love to hear how these management styles work for you.

Research Lifetime Appointment of Federal Judges Essay

Research Lifetime Appointment of Federal Judges - Essay Example On the other hand, they can decide on their own to resign or retire whenever they feel the need to do so. The security of tenure provided for by article 3 of the constitution, was informed by the need to ensure that the judiciary is independent and free from political interference (Federal Judicial Center n.d). It goes without saying that if the judges were subjected to a situation whereby the appointing authority has the capacity to terminate their employment at will, it would be extremely difficult for them to dispense justice without favoritism. This is especially when they are called to make judgment on matters that have a political dimension and where the issues are touching on the party affiliated to the appointing authority. In this context, they would be easily compelled to rule in favor of their boss’s interests so as to avoid being removed from office. The dilemma in making such a decision is that in a democratic society such as the US, the opposition may come to win elections in the future to form the government and if the leaders have had problems with some of the judicial officers, they may take this opportunity to remove them and replace them with friendlier ones. Security of tenure ensures that these judges are not affected by such a change, which has the capacity to ruin their lives especially from the financial perspective. In addition, it is a well known fact that experience in any field of service is acquired through long time participation. Opponents of lifetime employment of federal judges argue that having a limited term creates opportunity for introducing new members, probably younger, to the judiciary, who have the capacity to bring new and fresh ideas, which would help build more jurisprudence as they would be more conversant with current trends and issues affecting the society (Carpenter 73). In this context, the opponents insinuate that judges, who have served for a long time, for example 20 years, may tend to take a conservati ve approach, while interpreting the law, to issues brought before them. On the contrary, being old does not necessarily mean that one loses his or her cognitive abilities and therefore is no reason for one to be discriminated in the work place. They still have the potential to serve the people, who really need their expertise and experience in law. On the other hand, it does not escape the minds of opponents that old age inhibits timely delivery of services as aged people tend to succumb to fatigue at a faster rate than young people. In the judiciary, the consequence of this fatigue is an impediment to justice as it may result to backlog of cases in the courts. Mental debilitation and dementia also becomes an obstacle for a person to think or remember important aspects of law, which may lead to the making of irrelevant judgments (Federal Judicial Center n.d). For example, Justice William Douglas of the Supreme Court failed to acknowledge his inability to make healthy contributions a fter he suffered a debilitating stroke and anosognosia in 1975, even after his colleagues on the bench voted to bar him from participating and disqualifying any decisions he made (Carpenter 36). This shows that life tenure of office by judges gives

Global Health Policy (choose a topic) Essay Example | Topics and Well Written Essays - 1000 words

Global Health Policy (choose a topic) - Essay Example The IRIN (2015) report indicates that maternal mortality in South Sudan is above 2000 in every 100,000 live births. Statistically, the figure is far much higher than other countries. For instance, World Health Organization reports that the figure is 1000 times higher than the rate in Sweden. However, the figure representing the maternal mortality could be an underestimation (Nyamtema, 2015). This can be attributed to the fact that many deaths are not recorded. Partly, this is because more women give birth in villages. Such environments are characterized by lack of medical facilities and lack of trained medical professionals. As a result, most of pregnant women suffer from infections that result from open wounds. Hemorrhage is also another underlying factor that fuels up maternal mortality. Blood vessels rupture during delivery due to the pressure of pushing. Studies show that hemorrhage is common due to lack of proper medical attention and unhealthy maternity environment, which imped es the efforts of controlling the bleeding. Consequently, women die because of excessive bleeding. Accessing medical services in South Sudan is also a major challenge. In this case, families that live in rural areas are the most affected (The Sudan Household Health Survey, 2010). Lack of sufficient medical facilities in the rural areas is to blame for higher maternal deaths. It is important to note that South Sudan is an underdeveloped country. For this reason, the economy of the country is very poor (World Bank, 2010). The people are impoverished as well. In addition, high maternal death rates are generated through early marriages. According to Christian Connection for International report (2014), young girls drop out of primary education and contract early pregnancies. Girls as young as 13 years old discontinue their education and opt to marry elderly men. This policy brief will

College Athletes Essay Example for Free

College Athletes Essay For the longest time the NCAA was never a multi-billion dollar industry; many years they did not make half of that. Many big colleges had budgets that would make teams such as Alabama, Georgia, Miami, Oregon, Etc. laugh about what they were able to provide for sports. There have been questions for years about whether a college athlete should be paid or not and if athletes deserve to be paid for what they do at that level, after already being paid to go to school there, for most of the players. When athletes go to college they still put themselves in the same physical danger as a professional athlete does. The NCAA alone is a multi-billion dollar industry that generated over 845 billion dollars last year in 2011. Facts have shown that college athletes in the NCAA, on an annual salary, make zero dollars; however, it is a blessing that they are going to school for free. This business is that they get all the work done and the business they want to come in and basically the NCAA athletes work for free. Having a scholarship and having their education paid for is something great but the money they get for school is not the only money they need for the bumpy road to their profession. The billions of dollars that is received annually is nowhere close to being equitable to just a bachelor’s degree. What the student athletes are earning is a big slice of heaven to some students and their families of course, but it showed accumulate to something higher than that degree of college education. â€Å"The NCAA has been historically stubborn over changing its ways to adapt to the times. But lately, even NCAA President Mark Emmert has conceded that it may be time for college players in big money sports to start getting a cash stipend amounting to as much as a few thousand dollars per year. † (Blake Baxter, Eureka College) At least the president of the NCAA has been admiring the idea of giving money to the players and helping them through their college years. Being an athlete in college is having a job, and their job is to bust their butts at practice, come to play on game day, and repeat that cycle, with no pay. Many athletes with their schedules do not have time to make themselves meals, so they have to buy food or they drive to places where they could get it- which costs money in gas. Football and basketball at the Division One level have been the biggest suppliers of money because many of their revenues. These two sports have evolved to the level that coaches and universities are making staggering amounts of money off of the talent of their student-athletes. With the amount of money coaches and schools make, the athletes should be able to get paid for their hard work, all the pain that they put their bodies through, the countless hours of practice workouts, and classes. Surely they need to be paid for putting it all on the line. Argument #2 Many college athletes make decisions that will change their lives- such as Trent Richardson, who played for University Of Alabama. Richardson had to deal with the decision of having to raise two children while being a full time college athlete. When all this was going on, Richardson had no income what so ever, no time, and was dedicated to the football program at U of A. Richardson brought publicity to his school and to other athletes with children that they were trying to raise. While Richardson was at school playing, his two daughters would be at home with their mother watching their daddy play and kissing the screen when he would appear. Hes a big strong guy, hes hitting everybody in practice. And when hes around his kids, hes a completely different person, running back Eddie Lacy said. Hes real sweet. Hes a good father. With all the strength he shows on the field and the sweetness he shares with his daughter, and the hard work he and others put out, they still earn zero dollars each year. It shows and tells all the time- he puts in time and effort to make it in life and take care of his girls Its a level of maturity you dont normally find among guys his age, running backs coach Burton Burns said. They are a priority for him. He has a tough schedule with school and football, but he is going to find time to spend with those girls. That level of maturity should never be second guessed and overlooked to give certain players money to get through school and help raise their family like in Richardsons situation. He is basically working a full time job, going to school, and playing football for Coach Saben. He needs to get what he earns, which would be a little salary. A father and athlete that could say this I dont want them to struggle like I did, to go through the stuff I had to go through, Richardson said. Thats really motivated me on the field. Because when I play with my girls on my mind, I feel like nobody can stop me. Richardson is not the only struggling college athlete. There are a lot of other teams in college that have athletes that participate in the games and practices but do not get any profit from their hard work and dedication. Argument #3 Eric LeGrand, the former Rutgers University football player who was paralyzed from the neck down during a 2010 game, GIving the same effort that each professional athlete makes each game day. Players putting their bodies in this physical danger, and only getting a certain degree when graduating after four years of college. LeGrand the Big Defensive Lineman was on kick off team running down the field trying to make a tackle, and when hitting a player he fell to the ground and was motionless; it was devastating. â€Å"The way Eric lives his life epitomizes what we are looking for in Buccaneer Men,† Schiano said. If the NCAA would recognize the effort and the danger these athletes are put in, they would be generous and give college athletes a little salary. Players like LeGrand are why i stand behind the decision to pay the players a little profit of what they help make. Without all of these amazing athletes i dont beleive the schools would encounter most of the money they make as a university or college. NOt just football, other sports bring in huge amounts of money from ticket sales, team apparel sales, etc. College Athletes are the epitome of where all the money comes from and deserve more then a bachelor degree, and deserve a little allowance for all their hardwork, bringing in a lot of the income. Works cited http://usatoday30. usatoday. com/sports/college/football/acc/story/2012-01-08/tough-guy-richardson-softens-up-as-a-dad/52458854/1 http://www. cbssports. com/collegefootball/story/21575106/if-college-athletes-really-owe-schools-money-then-they-must-be-paid

What impressions have you formed of the narrator? How has Atwood created :: English Literature

What impressions have you formed of the narrator? How has Atwood created these impressions? Give detailed evidence for your answer - The Handmaid's Tale What impressions have you formed of the narrator? How has Atwood created these impressions? Give detailed evidence for your answer The narrator of 'The Handmaid's Tale' is a woman who calls herself Offred. This is not her real name, but a name that she has been given by the particular husband and wife she is staying with. This makes the narrator seem mysterious, and Atwood creates this impression by not telling us the narrator's real name. From the very start of the novel, Offred has given me the impression that she is quite well educated by the way she speaks and expresses things 'like the place in a face where the eye has been taken out'. This type of simile, which she uses also, gives us the impression that she isn't very happy about her surroundings because she is using violent expressions and associating things, which are supposed to be quite pleasant to things that sound very disturbing and of a violent nature. 'Clouds like headless sheep', normally clouds are associated with bright fluffy marshmallows and pleasant things like that, but the narrator sees the clouds in the sky as disturbing images. All of the way through the book she uses simile's like this to compare normal looking objects or people. 'The smile of blood' is the phrase she uses in chapter six, when she is describing the men, which are hanging on the Wall. The phrase 'The smile of blood' is referring to a stain of blood which has seeped through the white cloth which is covering up the mans face, and she is saying it appears to look like a smile which a child has drawn. This seems disturbing because smiles are meant to represent happiness in people, and she turns that happiness sinister with saying it is a smile made of blood. Also this phrase makes us think about why it would be a smile, rather than and unhappy face, because of him being dead. These violent associations certainly indicates to us that the narrator is unhappy, and that is exactly why Atwood created that quality about her, so that we know that Offred is not happy about the situation she is in at all, and that she relates to violence a lot of the time because she is used to seeing violence going on around her. At the very start of the novel the narrator was continuously slipping in and out of the present tense, she would often talk in the past

Cash Buget Essay

The Cash Budget One of the major functions of corporate finance is to anticipate the need for funds in the company. Although there are several methods for forecasting these needs, the cash budget is the most accurate (and most commonly used) method available. Cash flows through a company like water flows through a pipe. (See the cash flow pipeline.) A cash budget essentially maps out these cash flows and indicates the period in which they will occur. Cash budgeting, at its core, is a very simple procedure that simulates cash flowing through a company. If we can accurate estimate (1) the amounts and (2) the timing of these cash flows, then we can also estimate whether the company will experience a shortage of cash (or an excess of cash) during any given month. The primary cash inflows for a company consist of (1) cash sales and (2) collection of accounts receivable. An accurate sales forecast is a necessity if we are to construct an accurate cash budget. If we then know the terms that we sell on (2/10, net 30, for example) and the past payment experience of our customers, we can estimate the amount and timing of these collections. The primary cash outflows are generally (1) payments on purchases, (2) labor costs, and (3) capital purchases (i.e., fixed assets). Other large payments may include rent, taxes, and These and other cash outflows must be estimated as to the amount and timing of the payments. Pro Forma Statements It is also useful to know what the company’s income statement will look like for the forecasted period and what the balance sheet will look like at the end of the forecasted period. If either of these two statements show weaknesses, we can plan now to take steps that will prevent these deficiencies from occurring. Fortunately, cash budgets and pro forma statements are easily programmed using electronic spreadsheets like Microsoft Excel. This is especially handy since cash budgets involve a large number of relatively simple calculations. Spreadsheets Cash budgets are usually placed on an electronic spreadsheet, where data may be entered and updated frequently. The two spreadsheets below are examples of spreadsheets for 3-month and 12-month planning periods. An Illustration Let’s consider a sample cash budgeting problem, with its solution. An explanation of how the numbers are determined may be seen by clicking on the appropriate links in the â€Å"Solution† section of this page. A SAMPLE PROBLEM Glenda Byers has gathered the data below needed for the preparation of a cash budget for the months of October, November, and December. SALES: (Actual sales for August and September, forecasted sales for October – February) August | $ 45,000 | September | 54,000 | October | 65,000 | November | 75,000 | December | 93,000 | January | 71,000 | February | 55,000 | Based on the past history and current credit terms offered by her firm, Glenda has estimated the following payment schedule for sales: 25% of total sales will be cash sales;   60% of total sales will be collected in the month following the sale; 15% of total sales will be collected in the second month following the sale . (Note: Notice that since the three above collections total 100%, no bad debts on accounts receivable are anticipated. If we anticipated a 2% bad debt rate, we could change the 15% number above to 13%. We would then be anticipating that we would collect only 98% of the total sales.) PURCHASES The company’s markup on inventory is two-thirds of the cost (e.g. a $40 profit on an item which cost $60.) In other words, the cost of the merchandise is 60% of the final selling price. The firm purchases enough inventory to cover sales one month in the future. Based on current credit terms, Glenda expects the following repayment schedule: 12% of purchases are paid for in cash; 78% are paid one month following the purchase, and 10% are paid for two months after the purchase. EXPENSES (per month, unless otherwise noted): Mortgage Payment | $ 2,300 | Wages and Salaries | 3,200 | Lease Payments | 750 | Capital purchases (to be purchased in October) | 7,600 | Property Taxes (to be paid in December) | 11,800 | Other Expenses (%) | 10% of sales | FURTHER ASSUMPTIONS 1. Cash: * As of October 1st, the firm has $3,000 in its checking account at the bank. * The firm desires to have a minimum cash balance of $3,000 at all times. 2. Loan Information: * As of October 1st, the company’s loan balance was $2,000. * The company’s bank requires that interest be paid each month. The interest to be paid is the interest due on the previous month’s loan balance. The interest rate is 1.0% per month on the outstanding balance at the end of the previous month. 3. Fixed Assets: The firm depreciates all capital equipment purchases over a five-year period using the straight line method. 4. Minimum inventory: The firm keeps $30,000 of safety stock on hand at all times.

Dmitri Ivanovich Mendeleev

Dmitri Ivanovich Mendeleev was born in Tobolsk, Siberia, on February 7, 1834. Dmitri died January 20,1907 at age 73. He was a blonde haired, blue-eyed boy, and the youngest of 14 children. His mother Maria Korniliev s family settled in Tobolsk in the early 1700 s and introduced paper and glass making to Siberia. Ivan Dmitri s father died when he was a young boy, leaving his wife to support the large family. So Maria had to find work to put the children to school. Maria s family owned a glass factory, allowing her t take over managing the company for a modest wage from which she could support the family. Dmitri being the youngest must have been his mother s favorite child and was provided as many opportunities as she could afford. Form Dmitri s early years, she began to save money for Dmitri to attend the university. He spent many hours in the glass factory his mother operated, learning from the chemist about the concepts behind glass making and from the glass blower about the art of making glass. At age 14, he was attending the Gymnasium in Tobolsk. In that year a second major family tragedy occurred, the glass factory burned down. There was no money to rebuild and the only money was the money saved for Dmitri to go to the university. Maria was not about to give up her dreams for her son. She knew that Dmitri had to go to school on a scholarship. So she paused Dmitri to improve his grades and prepare for entrance exams. Dmitri did not want to or cared about other subjects other then science. He felt that history and Latin were dead subjects and waste of his time. In 1849, the family moved to Moscow. Because of political problems university was reluctant to admit anyone from outside of Moscow. Dmitri s mother did not want to give up here, so the family moved again to St. Petersburg. Dmitri took the entrance exams at Pedagogical Institute. He did not get the best grades but well enough to be admitted to the science teacher-training program on a full scholarship. Maria died shortly after Dmitri s acceptance at St. Petersburg. Shortly after his sister died, both from tuberculosis. Dmitri was now alone. He got tuberculosis also and the doctor told him he had two years to live unless he moves somewhere more suitable. Even with this disease he graduated on time. He had his future planed and did not want to die yet, so he move to Simferopol in the Crimean Peninsula. Between 1859 and 1861 he studied the densities of gases with Regnault, A. P. Borodin and Cannizzaro. These people had great influences in his life. He began to teach back at St. Petersburg in 1863. In 1866 he became known as Professor of Chemistry at the University and was made Doctor of Science. He loved to teach and spent most of his time in his classroom. Lot of his lab work including the periodic table was done on his spare time. In 1863 Dmitri married Feozva Nikitchna Lascheva. They had two children. A boy named Volodya, and a daughter named Olga. Mendeleev never really loved Feoza and spent little time with her. In January 1882 he divorced Feozva so he could marry his niece s best friend Anna Ivanova Popova. She was a lot younger than Dmitri but the town loved each other. They had four children together. He made several publications. Most famous one was Organic Chemistry, which was published in 1861 when he was 27 years old. This book won the Domidov Prize. The first edition of Principles of Chemistry was printed in 1868. Both of these books were classroom texts. His greatest accomplishment was the stating of the Periodic Law and the development of the Periodic table. He felt that there was some type of order to the elements, and spent more than thirteen years of his life collecting data and assembling the concept, initially with the idea of resolving some of the chaos in the field for his students. Dmitri was one of the first modern-day scientists that did not rely on his own work but in scientists around the world in order to receive data that they have collected. Then he used their data along with his own data to arrange the elements according to their properties. By 1869 he assembled detailed descriptions of more then 60 elements. On November 29, 1870 Dmitri took his concept even further by stating that it was possible to predict the properties of undiscovered elements. He then proceeded to make predictions for three new elements and suggested several properties of each, including density, radii, and combining ratios with oxygen, among others. People did not believe his theories. They just ignored it and did not take Dmitri s work seriously. In 1875 when Frenchman Lecoq de Boisbaudran discovered one of the predicted elements with he named Gallium, Dmitri ideas were taken seriously. The other two elements were discovered later and their properties were found to be remarkably similar to those predicted by Mendeleev. He was 35 years old when the initial paper was presented. Throughout the remainder of his life, Dmitri Mendeleev received numerous awards from carious organizations including the Davy Medal from the Royal Society of England in 1882, the Copley Medal, the Society s highest award in 1905. He got honorary degrees from universities around the world. Dmitri Mendeleev s work means a lot to us. Imagine how hard it would have been to memories the elements without a periodic table? I admire Dmitri, because not only for his achievements but the way he achieved them. He had a tough childhood and yet he turned out a brilliant man. Dmitri did not give up his dreams but kept chasing after them.

Indian Retail Industry Essays

Indian Retail Industry Essays Indian Retail Industry Essay Indian Retail Industry Essay EXECUTIVE SUMMARY Retailing is the process that involves of selling goods or services directly to end consumer for personal, non business use (Kotler, 2010). A retailer or retail store is an enterprise where they make volume majorly from retailing. Any firm selling its goods or services to the end consumers- whether it is manufacturer, wholesaler, or retailer- is said to be retailing. It doesn’t matter how the goods or services are sold (may be by person, through mail, telephone) or where (from a store, by the street or in the user’s home). In the past, retailers secured customers loyalty by offering convenient locations, special or unique variety of goods, greater or better services than competitors. Retailers struggled in developed countries because of their saturated market and forcing them to invest in developing countries like India, China etc. And India has been ranked fifth most favourable market for foreign retailers, according to AT Kearney’s GRDI (2012). An Industrial Analysis on Retail Industry mainly concentrating on Food Grocery is done in the project using Qualitative methods which includes PEST analysis, tracking mergers acquisitions etc. nd Quantitative methods which include comparison among the companies and comparison with the US markets. Certain limitation was faced while searching for data but its made sure it is from a reliable and trusted source. 1 Chapter 1 INTRODUCTION 2 1. 1. Overview Retailing is the process that involves of selling goods or services directly to end consumer for person al, non business use. Present day consumers shop for goods and services at store retailers, non store retailers etc, but the best known retailer is the departmental store. Generally a retailer tend to buy goods or services in large quantities from manufacturers or importers hich may include a middleman (wholesaler) or may directly purchase from them and then sell those to the end – user consumer as small quantities or in individual items. Retailers can be considered as the end of the supply chain, because they are final means from which the consumer receives their desired goods or services. Moreover in the marketer’s point of view retailing plays a major role in the overall distribution strategy, which means that to attain an efficient supply chain management retailer is the main source to assess the actual demand in the market. Some world leading retailers are (as per Revenue):1 1. Wal-Mart (US) 2. Carrefour (France) 3. Metro (Germany) 4. TESCO (UK) 5. Lidl Stiftury (Germany) The world market is found is undergoing continuous transformation. And especially when retail market is consider, lots of innovation and cut throat competition is observed. If we consider in India the retail sector constitutes to 22% of GDP and provides 8% of employment. 2 Indian retail sector worth is found to be US$ 350 billion and is growing at a rate of 15-20%3, it is estimated that the value of the retail sector may increase up to US$ 450 by 2015. This high growth rate has attracted many of the foreign investors to invest in India especially in Grocery and Apparel as a part of FDI in multi brand retail. 4 Top retailers in India are; 1. Reliance Fresh 2. Food Bazaar 1 2 www. moneycontrol. com www. ibef. org 3 Pricewaterhousecooper research 4 Deloitte research 3 3. Spencers Mart 4. More 5. Nilgiris The organized retail sector is found to be only 5%, which shows a huge potential in retail sector and estimated to increase to 9% by 2015. Figure : 1. 1 Organized retail has huge scope of expansion Unorganized retail penetration Organized retail penetration % 9% 20% 95% 91% 80% 2011-12 2015-16 2020-21 Source: Indian retail market sep 2011, Delioitte Aranca research 1. 2. Global Scenario In the last part of 20th century, the world saw the emergence of the retail industry, majorly the supermarket found to dominant grocery retail form. And with the latest advancement in the technology like the bar code, RFID etc. allowed a store to manag e thousands of items and ‘just-in-time’ store replenishment. Computer operated logistical systems integrated with the stores assess the consumer demand in a single electronic system has led to expansion of the retail sector. But with the saturated local market, high competition pushed the major retailers into the globalization though process. And at the same time many government in the mid 1990’s have opened their economies inviting for foreign retail investors. However major issue faced is the economic slowdown that has resulted due to the uncertainty in IT sector and other financial spending. Moreover consumers themselves became much more price conscious, sensitive to price hikes and conservative in their buying, particularly in the developed economies. 4 Even though, Retail industry continues to be the world’s largest private industry with above US$ 8. trillion sales worldwide annually, this accounts nearly 10-15% of GDP for most economies. 5 Major employer in most of the economies: ? ? ? ? 18% in US 14% in Poland 9% in China 17% in Europe Biggest retail countries in world (as per sales) ? ? ? ? ? US EU China UK India US$ 4. 7 trillion US$ 2. 9 trillion US$ 800 billion US$ 498 billion US $ 350 billon So from the above data it is evident that some developing countries like China and India made up to the top retailers in the world, which shows the huge potential for retail in these economies as major part of the retail is dominated by the unorganized sector. Retailers around the Globe; Table : 1. 1 Rank 1 2 3 4 5 6 Country UK Spain France Germany Italy Switzerland % of International retailers present 55 51 49 47 45 42 5 www. Livemint. com 5 7 8 9 10 Austria UAE China Russia 42 41 40 39 Source: CB Richard Ellis, 2010 The above table shows the concentration of the international retailer in to their economy, where UK topped the list and India ranked 44 in the list (as a lot of clarifications for the international retailers are required). Study also concluded that developed economies are still the favourable markets for international retailers. 1. 3. Indian Scenario The retail industry in India is one of the most attracted market in the world. The major reason for this is, the market is highly unorganized. Almost 90% of the retail market is under unorganized sector where the business are run as kirana stores and family businesses. The organized sector is only less than 10% which is very low compared to other countries like US, UK etc which are having 50%-70% organized sectors. Almost all global retailers are looking out for an opportunity to enter into the Indian market as they knows the growth of the sector in India. Even though food and grocery is having the maximum market share of about 69% in the retail market, its share in the organized market is only 3% which shows the retailers who are mainly into food and grocery sector have an advantage among other retailers. The research conducted by Technopak reported that, in 2011 Indian food and grocery sector was estimated to be USD 325 billion that accounts for the 69% of the overall retail in India. This is expected to grow to USD 425 billion by the end of 2016 at a Compound Annual Growth Rate of 5. 5%. In this, the market share of the organized food and grocery was estimated at USD 9 billion which is expected to witness a growth to USD 34 billion by 2016 at a Compound Annual Growth Rate of 30%. 6 The study shows that there is an exponential growth in the Indian organized food and grocery sector in the next few years. 1. 4. Major Retailers in Food and Grocery The major retailers in India are Reliance Fresh, Spencer Mart, More, Nilgiris and Big Bazaar. The various aspects of these retailers are explained in the following sections of this report. As the organized food sector is very small, the market shares of these retailers are pretty difficult to find. 6 indianretailer. com/article/sector-watch/food-and-grocery/Standing-against-each-other-1489/ 6 1. 5. Research Objectives 1. To identify the market share and nature of competition of Indian retail industry. 2. To understand the market segmentation of the industry. 3. To conduct PEST analysis for the industry. . To study the difference between standalone and conglomerate diversification in the industry. 5. To analyze the mergers and acquisitions carried out in the industry. 6. To study the international exposure of the industry. 7. To determine the technologies used in the industry. 8. To study the marketing initiatives carried out by the industry 9. To analyze the future prospects of the industry. 10. To Compare the Indian retail industry with US, UK and France. 7 Chapter 2 REVIEW OF LITERATURE 8 2. 1. Introduction The size of Indian retail is about US $350 billion but it is highly unorganized. Indian retail is dominated by 15mn independent retailers consisting of kirana stores, chemists, footwear shops, apparel shops, paan and bedi stalls, handcart and pavement vendors, which together makes up ‘unorganized market’. 7 But this situation will not be the same always specially with the fact that multinational companies are trying to enter Indian market. Investors view India as an attractive investment destination. India stands at 4th attractive location for FDI (Ernst Young, 2012). In 2011, Global retail development index (GRDI) stated that â€Å"time to enter Indian market is now†(Kearney,2011). Some major retailers in India (Kumar, 2011)? ? ? ? ? ? ? ? ? ? ? ? Food grocery: Big Bazaar, Food Bazaar Consumer electronics : e-zone Entertainment : Bowling Co. Books, Music and gifts : Depot Fashion and accessories Electronic retailers Time wear retailers Pharmaceutical retailers Telecom retailers Jewellery retailers Footwear retailers Catering service retailers 2. 2. Conditions in Retail Industries Globally, A survey in small towns in Minnesota (Brennan,1991) showed that specialized services, offering better quality products and improved customer service were most successful strategies while sales promotions and lowering prices were least successful. It was observed that consumers are more focussed on new discounts compared to old ones. (Brennan, 2000). A survey conducted in south India showed some decision making styles of south Indian peoples, mainly brand conscious, high quality conscious, confused by over choice style and recreational shopper style. (Canabal,M. E,2002). Until 2011 ,Indian central government denied FDI in multi brand retail and even single brand retail was limited to 51% ownership. In November 2011, India’s central government 7 Business monitor international(Indian retail report Q1,2012) 9 announced retail reforms for both multi brand and single brand retail. In December 2011, under pressure from opposition Indian government placed retail reforms on hold till it reached to a consensus. The reforms for single-brand stores to enter Indian market but on a condition that 30% goods should be purchased from local suppliers was approved by the Government in January 2011. Organized retail is increasing at the rate of 45-50% per annum and increases its share to 16% by 2012. On the other hand unorganized retail is increasing at the rate of 10%. Major increase can be seen in personal care, jewellery, sports goods and beverages. 8 According to A associates report, some of the benefits of multi-brand retail are ? ? ? Removal of intermediary Job creation No threat to kiranas India has been ranked as the most attractive nation for retail industry among 30 emerging markets. (Senjam Dwijorani, Consolidation phase in Indian retail industry). According to a Mc Kinsey company report titled â€Å"The great Indian Bazaar: organized retail comes of age in India†. Organized retail is supposed to increase from 5% in 2008 to 14-18% by 2015. Private labels contribute to 10-12 % of organized retail industry and are growing very rapidly. Key players being Westside, Shoppers stop, Spencers, Future group, Reliance and Bharti walmart. Highest penetration is by Westside at 90% followed by reliance at 80% and pantaloons at 75%. Shoppers stop and spencers have 20 and 10% respectively. According to Deloitte’s report on â€Å"Global powers of retailing 2013 , Retail beyond†, the retail industry grows despite difficult economic condition. Most of 250 retailers posted an increase in retail revenue with most of the companies experiencing declining sales. The top 250 maintained a healthy 3. 8 % composite net profit in 2011,matching the industries 2010 result. The average size of top 250 companies in 2011,as measured by retail revenue topped US$17 billion. A crisil report shows the Indian retail market is most fragmented in the world and only 2% compromises of organized sector. This shows potential for growth is immense. ASA Associates report, August 2012 10 Chapter 3 INDUSTRY ANALYSIS 11 3. 1. Market Share and Nature of Competition The current retail segment contributes 22% of the country’s GDP and 8% of the total employment. And more over India has emerged as the fifth most favourable destination for international retailers9. According to AT Kearn ey’s GRDI (2012) â€Å"India remains a high potential market with accelerated retail growth of 15-20% expected over the next five years†. India retail sector values US$ 350 billion and is growing at a rate of 15-20%, as per Pricewaterhousecooper (PWC) research report. Mass grocery and apparel are the two most favoured segments for FDI in multi brand retail in India, according to the study conducted by Deloitte. The FDI inflow in single-brand retail trading during April 2000 to December 2012 stood at US$ 42. 7 million, as per the data released by Dept. of Industrial Policy and Promotion (DIPP). A report (KPMG, 2010) indicates that the retail business in India has not able to deliver the expected results, expect a few players. The growth of organized retail trade decreased from 35% in 2007-08 to 10% in 200-09. Food and Grocery segment has been dominated by retailers not organized till date, except a few players like Big Bazaar (Food bazaar), Reliance (Reliance Fresh), RPG (Spencer’s), and AV Birla Group (More). Organized retail is in continuous increase compared from past. Retail can be classified in different sectors such as Food Grocery, Clothing, Durables goods, Shoes, Furniture, Services, Catering, Jewellery Watches, Books, Music Gifts, Mobile phones etc.. Figure : 3. 1 Grocery sales across countries (2010) 18. 40% 12. 40% 11. 10% 10% 3% India Source: IGD international 9 2% USA China Russia Brazil UK ww. ibef. org 12 The highest penetration of private label products is by Trent at 90%, followed by Reliance 80% and Pantaloons 75%, big retailers such as Shoppers Stop and Spencer’s have a penetration of 20% and 10%. 10 Figure : 3. 2 Market Breakup by Revenue (2011) 17% 3% 6% 4% 10% 60% Food and Grocery clothing fashion Beauty wellness Electronics Furniture Furnishing o thers Source: Indian retail market sep 2011, Delioitte Aranca research The Net Revenues of the top retailers in India; Figure : 3. 3 Retailer Food Bazaar Spencer’s Reliance Fresh More Nilgiri’s Source: annual reports of the companies 010-11(Crs. ) 215. 1 98. 46 127. 67 163. 7 80. 49 2011-12(Crs. ) 298. 09 120. 62 210. 45 236. 8 97. 70 3. 2. Market Segmentation 3. 2. 1. Segment analysis The Indian economy is growing rapidly. An important contribution is made by the growing number of shopping malls. Shopping malls became a centre of attraction or a hang-out place in metro cities. There are development plans proposed 150 new malls in 2008. But what this does is we forget or ignore the traditional retail formats (pedlars, grocery stores and tobacco 10 Consolidation phase in Indian Retail Industry, Senjam. 3 shops etc. ). They continue to co-exist with the modern formats. Modern retail has helped companies to companies to increase consumption and hence the demand for their products on the market. For example, Indian consumers would normally consume rice sold to the neighbouring Kiranas viz Kolam for everyday use. With the introduction of organized retail trade, it has been noted that the sale of Basmati rice increased by four times that he was a few years back: as a top quality, rice (Basmati) is now available at almost the same price as the normal price at local Kirana. Thus we can see the way a product is displayed, spoken and contiguous and how he won the heart and the minds of consumers affects its sales. It consumption continues to increase in the way; we can say that the local market would go through a metamorphosis of a change. This means that non- union retail trade would suffer a serious setback due to the outdated technology, poor supply chain, inadequate marketing etc. Thus, local stores would soon become things of the past or limited unexpected last minute purchase. And it is also observed that avg. consumption of Indian consumer will come down to 34% in CY2015 and in addition up to 25% in CY2025. This indicates that, with gradual increase in income levels, Indian consumers are spending more on products of lifestyle or pimping the economies of lifestyle retail value. 11 Currently most popular organized retail formats are; ? Shopping Malls: Malls are larger form of organized retail today. These are mainly located in metropolitan cities, close to urban periphery. The field of shopping centres varies from 60000 m? to 7, 00,000 m? and above. The idea is to provide an ideal shopping experience that includes a mix of products, services and entertainment all under one roof. Some examples are Inorbit mall, Ansal Plaza etc. Specialty stores : These are the stores that focuses on specific market segments, specializing on particular products such as entertainment and leisure, gifts and so on. The most notable among these include channels such as Crossword, Planet M etc. Discounters: As its name suggests, the shops or factory stores, offer discounts on MRP by selling in bulk to achieve economies of scale or surplus stocks in season over. The category includes various perishable goods/ non: Subhiksha. Department Store: Stores ranging from 20000-50000 Ft? responding to the diverse needs of the consumers. It includes localized departments like clothing, toys, home, groceries etc. the popular among these are Big Bazaar, D-Mart etc. Hypermarkets/Supermarkets: Big self service outlets, with strong emphasis on Food Grocery store and personal sales and designated as supermarkets. These can still be divided into mini supermarkets typically from 1000 to 2000 Ft? and large ? ? ? ? 11 McKinnsey Global Institute 14 ? ? supermarkets from 3500 to 5000 Ft?. These stores now contribute to 30% of all Food Grocery store in organized retail. More, Reliance fresh etc are some examples. Convenience stores: These are relatively low (400 – 2000 Ft? ) stores generally located near residential areas. They have a limited range of convenience high-sales of business products in stock and are usually open for long periods during the day, seven days a week. The prices are slightly higher because of premium convenience. MBO: Points of sale multi brands, also known as category killers, offer several brands on a single product category. They are generally well in places of markets occupied and cities. 3. 3. Policy Framework Since liberalization several policy measures have been taken with regard to regulation and control, fiscal policy, export and import, taxes, exchange and interest rate regulation, export promotion and incentives to high priority sectors. Food and agricultural industries has made an agreement with high priority a number of important releases and incentives. Some of the major policy changes are as follows: 3. 3. 1. Regulation and Control According to the extant policy, FDI up to 100% allowed under the automatic route in food infrastructure (Food Park, Cold Chain / Storage). As for food retail FDI policy concerns do not permit foreign direct investment in the retail sector, with the exception of a single retail brand products. This policy is the same for all retail operations. FDI policy for the manufacture reserved for the SSI sector is the same for all items, so reserved and a separate dispensation for the items in the food processing sector is not intended. 3. 3. 2. Fiscal Policy and Taxes Broad fiscal policy changes have been introduced gradually. Excise Import tariffs have been reduced substantially. Many processed foods are exempt from excise duty. Custom tariffs were substantially reduced on plant and equipment as well as raw materials and intermediates, especially for export production. Corporate taxes were reduced, and there is a shift towards market related interest rates. There are tax incentives for new manufacturing units for certain years, except in sectors such as: Beer, wine, soda flavoured with concentrates, confectionery and chocolate, etc. Indian currency (rupee) is now fully convertible for current account and capital account convertibility in the unified exchange rate mechanism is foreseen in the coming years. 15 Repatriation of profits is freely permitted in many industries, with certain exceptions, which is another requirement offset by dividend income from exports. 12 3. 3. 3. PEST ANALYSIS PEST analysis is concerned as the environmental influences on the business. The factors are Political, Economical, Social, and Technological. 3. 3. 3. 1. Political Environment Political factors include government policies, fiscal policy, labour laws, safety regulations, competitor regulations, political stability and consumer protection. That influence and limit various organizations and individuals in society. Legislation relating to the retail was damaged many years. Political factors include goods and services that the government wants to provide or provided. 3. 3. 3. 2. Economic Environment Economic factors include economic growth, interest rates, exchange rates and inflation rate. These factors have a significant impact on decision-making and business operations. Exchange rates affect the costs of exports of goods and the supply and price of imported goods in the economy. The retail market consists of the purchasing power of people. So the total purchasing power is a function of current income, prices and availability of credit. Changes in economic conditions may affect the business or company. Economic forecasters Looking ahead to the next decade and is likely to find its forecasts of rising costs, shortages and up and down economic cycles. These changes in economic conditions provide new opportunities or threats in the market. 3. 3. 3. 3. Social Environment Social factors include income distribution, population growth rate, age, lifestyle changes, education and living conditions . Society that people grow in their beliefs, values and norms. People live in different parts of the country have different cultural value, which must be analyzed retail person or company. This will help you to understand the business strategy in order to meet the requirements of customers. trend is the social factor will also affect the business for retailers. 12 punebds. com/pf. asp 16 3. 3. 3. 4. Technological Environment Technological factors include technical aspects such as research and development activities, technology incentives and the rate of change of technological changes, new inventions and development, energy use and costs. They can determine barriers to entry, minimum efficient production and influence outsourcing decisions. Technological implementation can affect the cost, quality, and this leads to innovation. Technology is extensively used in some of the areas such as: ? ? ? ? ? ? ? ? Packing of the products Billing Mobile point of sale(POS) Digital signage Inventory management Customer service Price changes and auditing RFID and location tracking 3. 3. 4. PORTER’S Five Forces Porters Five Force model is to analyze the competition model, it helps to understand the nature of competition within the industry, and provides a good, simple but effective framework for the development and understanding of the competitive forces in the industry. Michael Porter created a framework, which identified five forces which act to either increase or decrease the competitive forces in the industry. These five forces is ? ? ? ? ? Threat of new Entrants Power of suppliers Power of buyers Availability of substitutes Competitive rivalry 17 Figure : 3. 4 3. 3. 4. 1. Threat of New Entrants The retail industry has seen a growth of the organized sector in recent years. Even though growth is not diversified, it was still significant enough to affect the unorganized retailers. This industry started ten years ago and has been declining number of independent retailers. If you walk through any mall, we notice that most of them are chain stores and there exist only a hand full of independent shops. While barriers to the establishment of trade is not impossible to overcome, the ability to establish favourable supply contracts, leases and be competitive, it becomes virtually impossible. Their vertical structure and centralized shopping gives retailers competitive advantage to independent dealers. 3. 3. 4. 2. Power of Suppliers In 1970, when Sears dominated the household appliance market, which set high standards for quality. Suppliers that did not meet these standards were omitted from Sears line. In this way, retailers have tried to exploit relationships with suppliers. This can be attributed to the fact that in the retail industry, suppliers often have very little power. Take the example of WalMart, which imposes strict controls on their suppliers. Contract with a large retailer like WalMart can make or break a small supplier. 3. 3. 4. 3. Power of Buyers Individually, customers have very little bargaining power with retail stores. The prices offered by the center-stores are usually negotiable. They come with a tag attached saying fixed price. It warns the customer from the very entrance to the store, if you want discounted prices. s Very difficult to negotiate. , But as a whole, if customers require high quality products at competitive prices, it helps keep retailers honest. 18 3. 3. 4. 4. Availability of Substitutes There is no shortage such as in the retail sector. This is not a monopoly in the market. The tendency in the retail sector is not specialized in one good or service, but to deal with a wide range of products and services. This means that what one store offers, you will probably find it in a store. Therefore, innovation and product differentiation are essential ingredients necessary to separately in the retail industry. Retailers offering products that are unique or have a clear absolute advantage over their competitors. 3. 3. 4. 5. Competitive Rivalry There is no market without competition, and there are no better ways than the existence of competitive forces in the market to improve the quality, price, supply chain management, inventory management, etc. Retailers always face stiff competition. The slow growth of the market for the retail market means that companies must fight each other for market share. More recently, they have tried to reduce the cut-throat price competition by offering frequent flyer points, membership and other special services to try to gain customer loyalty. Given the relatively weak financial condition of unorganized retailers and physical space constraints on their expansion prospects of the sector itself is not able to meet the growing demand for retail. Therefore, organized retail, which now represents a small 4% of total retail sector is likely to grow at a much faster pace of 45-50% per annum and quadruple its share in total retail trade to 16% by 2011-12. 3. 4. Business Diversification Diversification is a form of corporate strategy for a company. It seeks to increase profitability through greater sales volume obtained from new products and new markets. Diversification can occur either at the business unit level or at the corporate level. At the business unit level, it is most likely to expand into a new segment of an industry that the business is already in. At the corporate level, it is generally via investing in a promising business outside of the scope of the existing business unit. The different types of diversification that are discussed in this report are as follows; 3. 4. 1. Standalone Diversification Self-contained and usually independently operating. They concentrate only on the specific category of products. Standalone diversification has large relationship with the firm’s current business. 19 3. 4. 2. Conglomerate Diversification The companies markets new products or services that have no technological or commercial synergies with current products but that may appeal to new groups of customers. The conglomerate diversification has very little relationship with the firms current business. Therefore, the main reasons of adopting such a strategy are first to improve the profitability and the flexibility f the company, and second to get a better reception in capital markets as the company gets bigger. Even if this strategy is very risky, it could also, if successful, provide increased growth and profitability. 3. 4. 3. Future Group (Conglomerate) But while contemporaries like Bharti and Tata has teamed up with Wal-Mart and Tesco in the wholesale business, Future Group has b uilt its business by himself. Talks over sourcing partnership with Lawson Inc. Japan ended without agreement is happening this year. Under the new legal regime, it could be more opportunities for future groups to join forces with international traders. Future Group has recently reorganized its retail assets simplification of business and bring greater clarity to investors for business, Biyani says, and sees further expansion, not least the food in the arm, which he described as profitable. (And he adds: Some of the high-margin businesses, where demand is not too high, that when concerns are greater food is good, profitable business .. This week, the Future Group has acquired Express Retail Services, which operates in Delhi supermarket chain Big Apple. Biyani also outlines its goals for the store chain Food Bazaar. Currently there are about 200 Food Bazaar stores. No. Maybe in five years, add another 150 to that number, he says. 3. 4. 4. Reliance Fresh (Conglomerate) Reliance Industries plans to merge all its retail units within a single entity, which suggests he was not looking for a foreign partner in any of its businesses, a person with direct knowledge of the development said. The company started the process all the clubs eight independent retailers, such as clothing chain Reliance Trends and consumer electronics chain by Reliance Digital Reliance Fresh grocery chain, in a bid to remove defects and improve administrative cooperation and efficiency between different companies, people said. This will allow Reliance Fresh single retail entity by Reliance Retail, the groups holding company for retail sale. Reliance last Monday filed a petition in the Bombay High Court seeking permission for the scheme of arrangement of its several entities, including Reliance Retail, Reliance Fresh, 20 Reliance AutoZone format, car accessories, Reliance Trends, Reliance Footprint footwear chains, consumer electronics chain Media Reliance Digital, Reliance leisure, Reliance Gems and jewellery, and Reliance Replay Gaming. 3. 4. 5. Spencers (Conglomerate) Spencer Retail Ltd (Spencer) is one of the Indias multi-format retail chain. Established in 1996, Spencer is a group of RPG Enterprises, one of the leading conglomerates operating in India and subsidiaries Cesc Ltd. In 1989, RPG Spencer won, and in 2005 launched its retail brand in the Spencer. Consequently, it Spencer spread to other retail formats starting Hyper Spencer, super fresh and daily formats. Currently Spencer food markets and food products, clothing and accessories, footwear products, home decor items and equipment and consumer durables. 3. 4. 6. More (Conglomerate) More is a group company Aditya Birla Retail Limited, a leading conglomerate in the retail industry with a clear focus on its vision to be a global company premiums. 3. 5. Mergers and Acquisitions 3. 5. 1. Reliance and BP (Merger) During the year 2010, BP and reliance industries limited made the partnership in the oil and gas business. 13 By announcing the partnership both the companies came to an understanding that BP takes 30% of partnership of 23 oil and gas production sharing contracts that which are done by reliance industries in India. This project would help Indians in getting gas and will help to reduce the import cost included in gas. The same year reliance industries entered into partnership in us with an agreement of joint venture with the companies Atlas Energy, pioneer Naturals Resources and Carrizo oil gas by three different joint venture agreements. 14 13 14 ril. com/html/aboutus/major_milestones. html ril. com/html/aboutus/major_milestones. html 21 3. 5. 2. Bharti Wal-mart (Merger) In order to lead the retail stores in India, Walmart has begun talks with Bharti enterprises for forming a joint venture. Two companies has equal partnership in wholesale business in India, so they decided to continue their business relationship in retail business by requesting the government to make decision for allowing up to 51% foreign direct investment(FDI) in multi brand retail. 15 The aim of joint venture is to establish wholesale cash-and-carry stores and back-end supply chain management operations in line by taking government guidelines. 3. 5. 3. Spencers India Limited (Acquisition) Spencer’s is one of the retail sector which sells food and non food FMCG products16. Spencer’s Retail is a part of the RPG Companies that deals with food, apparel, fashion, electronics, lifestyle products, music and books . More over it offers services like gift vouchers and easy loans. 17 Spencer’s has expanded its food retail chain by bringing food world that has been brought over by RPG group18 . The Company has filed an application with the Honourable High Court of Calcutta for merger of its wholly owned subsidiary company Music World Retail Limited with the Company, effective from 1 January 2012, which is pending approval as of date19. 3. 6. International Exposure In the year 2006-07 ,the size of food industry in India was established at around Rs 8,80,000 crores in that the food industry accounts for around 374000 crores. Now growth of Indian food processing industry is up to 13% per annum20. 3. 6. 1. Dairy Dairy firms are one of the main contributors of Indian food industry among various sectors. In 2006-07 the size was 198000 crores it is estimated to be 366484 crores by 2015. The states of Gujarat, Tamil Nadu, Kerala, Karnataka, Punjab and Haryana have established many dairy co-operatives running successfully. Most of the packed milk segment is 15 16 bharti-walmart. n/Overview-CareerAtBhartiWalmart. aspx http://info. shine. com/company/Spencers-Retail/204. aspx 17 http://info. shine. com/company/Spencers-Retail/204. aspx 18 cesc. co. in/cesc/web/investor/helpdesk/document/sub/Spencer%60s%20Retail_Annual%20Repo rt_2011-12. pdf 19 cesc. co. in/cesc/web/investor/helpdesk/document/sub/Spencer%60s%20Retail_Annual%20Repo rt_2011-12. pdf 20 C ifti. org/Reports/Ficci_Technopak%2008. pdf 22 dominated by co-operatives it contributes about 70% of the total revenues. In the milk products India, the reports have given that demand is growing faster than supply. The recent rise in milk prices have forced Indian government to Impose a ban on skimmed milk products and reduce Incentives for exports. Many products like Ghee, Curd, etc. has demand more and they are sold as unbranded in Indian market. As the health consciousness among people is increasing day by day ,the demand for milk is increasing in the market. Exports of milk from India to south east Asia countries have grown rapidly. The ice-cream industry though it is widespread is suffering from shortage of cold chain infrastructure and lack of big players in India. 3. 6. 2. Non-Alcoholic Beverages These are of two types namely; ? Carbonated and Non-carbonated drinks Some of the hot beverages are tea and coffee. Almost Rs. 5000 crores was accounted by fruit juices and fruit based drinks. The annual growth rate would be 10-12% India is the biggest country to produce tea in the world accounting for 28% of the total global production at 956 million kgs. Tea production in India is being increa singly improving year by year whose turnover itself is above Rs. 8000 crores. The growth has become 1. 2% per annum. India is the 4th largest exporter of tea in the world and it is also the 5th largest producer of coffee which is accounting up to 4% of total production in world. Almost everything produced is being exported. It came up to 75% of produced tea and coffee is exported21 The competitor for US food processing is Indian domestic industry. As it has the best climatic conditions it has got advantage to produce the agricultural goods and potential to cultivate the wide range of raw materials. some of the Indian companies have increased their market share by decreasing the prices for the products while import duties on food and ingredients have become relatively costly. The existing food laws will restrict the producers to use the ingredients, colors, flavors. Thus it has become the additional challenge to the US exporters interested in Indian market. 21 Food. export. org/resources/countryprofiledetail. cfm? itemnumber=1015 23 3. 7. Technologies used in retail industry Retail industry is one of the most growing industry in the world today with a market share of above 50% with organized sector having a share of 5% whereas unorganized sector has over 90% of share22. Now the factor is to know how to maintain such share. moreover food grocery alone takes around 62% of market share within retail industry. Everyday thousands of thousands transaction are done in retail market let it be regarding food grocery or may be some apparels or some clothing. But its really difficult to manage the details about all these. How to keep complete track of all the products? Earlier people used pen and paper techniques but will that suffice present days requirement. The answer to this question is a big No , it is not possible to implement such techniques today. At this part technology plays a vital role today. Storing the data in a proper manner so that whenever it is required can be fetched immediately without any delay. Database, Data warehousing, Data mining are some of the tools used nowadays for storing and retrieving data efficiently. Forecasting is used to predict future demand, e-commerce used online order and purchasing, The next part discusses how exactly each of the technology has played important role in retail industry. ? Forecasting tools are used to predict the total demand of any product in the near future based on the present or past purchase made by consumers. their details are saved on a computer and based on that prediction is made how much will be actually required to suffice the requirement. Database used to store details about a product how much is in the inventory, what is the amount that has been sold, who are the purchasers of such product, what is the buying frequency of the particular product etc. This is done using barcode scanners or RFID tags that is attached with the particular product. Barcode was the idea of two college students which actually came into effect on the late 1940’s and early 1950’s. Barcode is a code made of series of lines based on morse code and movie equipment. How it is read is by using incandescent light and an oscilloscope23. RFID tags uses radio waves to identify things automatically at any time. it can either be active with their own means of sending signals or passive like using a reader to read the details. Tag may contain manufacturing date, lot number, and serial number. Use of Credit card, debit card to pay for the products purchased can also be added to the technological usage in retail industry. Using cell phones as a medium to intimidate the consumers about any new offers on any product. ? ? ? ? ? 22 23 www. cci. in www. barcode-printing. co. uk/history-of-barcodes. htm 24 ? Use of e-commerce has been the bottle neck of retail industry now. with the ease of ordering stuffs with a click of a button, paying after receiving the product and other facilities has really made life of human beings easy. Reliance Fresh, Spencer’s, Nilgiri’s, More, Big Bazaar and all uses such technologies. Food and grocery segment comprises mostly of all packed items having barcode on the backside through which its manufacturing date, expiry date, price can be monitored. 3. 8. Marketing Initiatives There are a lot of retail companies coming up nowadays but how to introduce it to public. The best way is advertisement in terms of television ads, hoardings, newspapers, etc. This section discuss about how exactly few retail companies has used advertising a tool to introduce their product to public. For this project five major food and grocery companies in India, viz. Reliance Fresh, Spencer’s, More, Nilgiri’s and Big Bazaar are considered. 3. 8. 1. Reliance fresh Reliance fresh with its splendid combination of red and green colour logo reflects a green environment. Their major advertising types are ? ? ? ? ? Print or broadcast ads through newspapers. Packaging through carry bags. Directories like in telephone directories. Audio materials like announcements through radio. Point-of-purchase displays as in when customers reach billing point they can see special offers or promotions. Other ways of promoting are direct marketing through e-mails, messages and personal selling through face to face interaction with customers. 3. 8. 2. Spencer mart Spencer follows same pattern as reliance like packaging, print ads, Audio materials, TV ads but one addition to it is every week a new published ad can be seen in local stores or website. 5 3. 8. 3. More More comes with orange colour logo having tag line â€Å"for you† or â€Å"hamesha extra†. More advertises through newspapers, online advertisement, packaging, etc. They promote by offering discounts and promoting traditional and local specialities during festive season. 3. 8. 4. Nilgiri’s Niligiri’s started in 1905 has a logo of green colour . It is a supermarket ch ain in south India. The major selling product in Nilgiri’s is fresh vegetables with hygienic and superior qualities. Advertising is very essential for promoting of products that led to the growth of Nilgiri’s. Direct marketing, personal selling, store promotion, sales promotion are other ways of advertising the product. 3. 8. 5. Big Bazaar Big Bazaar’s logo comes in orange and blue colour with tagline as †Is se sasta aur accha kahin nahi†. Some of its marketing initiatives taken arePromotional offers? â€Å"saal ke sabse saste 3 din†. ? â€Å"Hafte ka sabse sasta din(Wednesday bazaar)†. ? Exchange offers †Junk swap offer†. ? Future card(3% discount). ? Shakti card. ? Advertisement(print ad,radio,newspaper). ? Endorsement by M. S. Dhoni 3. 9. Future Outlook Retail industry in India, as we know, is one of the fast growing industry which accounts for 22% of its GDP at present24. The sector consist of only 5% of organized market and the rest under unorganized which shows that there is a wide opportunity for large scale companies in the Indian market (Singh, 2012). The proposal of FDI was considered for taking up the growth of the Indian retail market during early 1990s. It was in the year 1991, the Government has opened up the retail market to FDI through a series of steps which are; (Singh 2012) 24 ibef. org/industry/retail-india. spx 26 Table : 3. 1 1995 ? World Trade of Organizations General Agreement on Trade in Services, which includes both Wholesale and Retailing services, came into effect. FDI in cash-and-carry (wholesale) with 100% rights allowed under the Government approval route. FDI in cash-and-carry (wholesale) brought under the automatic route. Up to 51% investment in single-brand retail outlet permitted. 100% FDI in single brand retail and 51 % in Multi-brand retail. 1997 ? 2006 ? ? 2012 ? In the year 2007, the Indian retail market stood at Rs 1. 33 billion witnessing a growth of 10. %. In this, organized sector shared only 5. 9%, but itself showed a growth of 42. 7%. It was expected to maintain a much faster growth in the next 3 years (IMAGES FR Research, 2009). As part of the action taken by the Government in 2006 regarding FDI, Wal-Mart has made an agreement with Bharti Enterprises to establish a joint venture, Bharti Wal-Mart private limited, for wholesale cash-and-carry and back-end supply chain management operations in India in the year 200725. This was a decision taken by Wal-Mart as the FDI policies were not favourable for retailing. The foreign retailers were still waiting for the Government to revamp their policies on FDI in retailing. Even though there was a fast growth in organized sector, its penetration in the market was only 8-9% during 2009 which is very low as compared with countries like US, France etc with 60-80% penetration level26. During these days, the retail market looked gloomy and experts reported this will last for the next few months which will reduce the growth in organized retail sector. In 2011, the market stood at USD 396 billion. It was clear that acceptance of FDI in retail became essential for another growth to attain27. Also, according to A T Kearneys Global Retail Development Index (GRDI) 2012, India is the fifth most attracted market for International retailers and also the market is expected to show a growth of 15-20% over the next five years. 25 26 http://corporate. walmart. com/our-story/locations/india investindia. gov. in/? q=retailing-sector 27 deloitte. com/assets/Dcom-India/Local%20Assets/Documents/Indian_Retail_Market. pdf 27 Growth in organized sector can be achieved through retaining and attracting more customers in the future. Also the retailers ability to manage supply chain efficiently, increase the operational efficiency through economies of scale, serviceability and optimal space management are certain other factors that can achieve growth in organized sector (Karthikeyan, 2010). Also the usage of various tools like, GIS (Geographic Information System ); which helps the retailers to capture, store, manipulate, analyze, manage and present all types of geographical data which is highly used for locating and shifting of their stores to specific areas; are considered (Mishra, 2009). The International retailers updates on the Indian status for FDI which allows them to enter the market with less constraints and more freedom. As the Government had not supported the foreign retailers negotiation in terms of the investment, they are still in doubt to establish in the market. For the organized sector to grow further, there should be some foreign investment and that which can show the growth of 15-20% in the next five years. 3. 10. Comparison of Indian retail industry with US, UK and France. As the study shows that the top 5 global retailers are from US, UK and France, comparison study of Indian retail industry with these countries are done on the basis of the size of the industry, the major retailers within the country and the nature of competition within the country. Among the retailers above, its clear that US is the top on the basis of the size of the industry followed by France and UK. But the most attracted retail market among the above countries is India. The comparison given below explains more about the growth of these markets between 2007 and 2011. . 10. 1. Size of Industry The size of the retail industries of India (Singh, 2012) (Assistant Professor, Global Institute of Management Technology, Noida) 28, USA29, UK30 and France31 in the year 2007 and 2011 are shown in the figure below; In the French scenario, the value for the year 2010 was mentioned as USD 349. 65 billion. From the source it is established that, the growth was following a compound annual growt h 28 29 dnb. co. in/IndianRetailIndustry/overview. asp slideshare. net/hitaishi9/retail-assignment, lideshare. net/hitaishi9/retailassignment 30 prospectsnet. com/cms/ShowPage/Home_page/Industry_insights/Retail/overview/p! egiLLL, http://raceforopportunity. bitc. org. uk/sites/default/files/kcfinder/files/RaceforOpportunity/Retail%20Sector. p df 31 http://industryreviewstore. blogspot. in/2012/04/future-of-retailing-in-france-to-2016. html 28 rate of 4. 5% from 2006-2010. Hence, the value of the industry in 2007 is calculated as USD 304. 55 billion32. Figure : 3. 5 4000 3500 3000 2500 2000 1500 1000 500 0 India US UK France 2007 2011 The above figure shows the growth of the retail industries of the mentioned countries between 2007 and 2011. The growth rate is more for India and France than UK and US. The retail markets in UK and US are almost in a saturation state whereas the Indian retail market which is mostly unorganized has a wide range of opportunity for the modern retailers. The global retailers will be certainly looking forward to enter into Indian market as its organized sector is yet to grow. 32 slideshare. net/Allystephen/retailin-france-2011kh 29 3. 10. 2. Major Retailers, Their Market Shares and Nature of Competition The top 5 retailers in the four countries are given below and their market shares are shown in their respective regions33; Figure : 3. 6 Wal-Mart 6% Metro Group Aditya Birla 6% 6% Future Group 54% RETAILERS IN INDIA Reliance Retail 28% The study shows that Future Group is the market leader in Indian retail industry with a market share of 54%. Followed by the challenger, Reliance Retail has a share of 28%. The next three retailers have almost equal shares which show that there is a tight competition within the followers. Figure : 3. 7 RETAILERS IN USA 11% 11% 11% 52% Wal-Mart Kroger Target 15% Walgreens Costco 33 planetretail. net/Presentations/grocery-2012-web. pdf 30 In USA, the retail industry is lead by Wal-Mart with a market share of 52% followed by four other retailers Kroger, Target, Walgreens and Costco with respective market shares of 15% for Kroger and 11% each for the rest of them. This shows that there is a tight competition within the four companies. The Indian and US retail industries are having almost same nature of competition. Figure : 3. 8 RETAILERS IN UK 0% 15% 37% Tesco Sainsbury 19% 19% Walmart Morrisons Co-operative Group The retail industry in UK has different combinations of market shares among the companies. The chart shows that none of them is having more than 50% of the market share. The market leader is Tesco with 37% market share followed by Sainsbury and Walmart with 19% each. Morrisons is only 4% behind the two companies which shows that there is a strong competition b etween all the retailers in UK. Figure : 3. 9 RETAILERS IN FRANCE 14% 17% 28% Carrefour Leclerc Casino 18% 23% ITM Auchan 31 Study shows that there exists a similar competition within the companies in France as in UK. Even though Carrefour is having the higher market share of 28% than the other retailers, Leclerc which holds the second position with a market share of 23% is not far behind. The rest of the companies have a competition within themselves as they have market shares between 14% and 18%. 32 Chapter 4 CONCLUSION 33 The report analysed in detail, the retail industry in India. The research initially started with the collection of data about the Indian retail industry as a whole, and then moved onto global scenario of retail industries. Also, issues regarding the foreign direct investment(FDI) in the retail sector is covered. The key players currently operating in the retail industry and the bottlenecks that the retail industry is facing in India are also analysed. Based on the findings, the future outlook of the Indian retail industry is mentioned in the report. 4. 1. Major Findings 1) The Retail sector in India is split up into two, the organised and the unorganised. 2) In terms of value the size of the retail sector in India is $350 billion. The organised sector contributes about 5%of the total trade. ) The retail sector in India contributes 10% to the Gross Domestic Product and 8% to the employment of the country. 4) In terms of growth the FMCG retail sector is the fastest growing unit. 5) The foreign retail giants were initially restricted from making investments in India. But now FDI is permitted 51% for multi brand retailing and 100%for single brand retailing. Again they can enter the markets through franchis es. The report concludes that, retail industry in India has a very bright future prospect as it is undergoing through a transaction phase. It is expected to enrich the Indian economy in terms of Income and employment. The retail industry in India has come forth as one of the major dynamic and fast paced industries with several players entering the market. From analysis other reports and surveys it is quite clear that Indian retail players are now all set and ready to triumph over the organised retail sector. The Indian retail industry is now on a verge to experience speed actions and competitions, allowing the consumers to get the best deals out of it. 34 Chapter 5 REFERENCES 35 REFERENCES 1. www. moneycontrol. com 2. www. ibef. org 3. Pricewaterhousecooper research 4. Deloitte research 5. www. Livemint. com 6. indianretailer. com/article/sector-watch/food-and-grocery/Standingagainst-each-other-1489/ 7. Business monitor international(Indian retail report Q1,2012) 8. ASA Associates report, August 2012 9. punebds. com/pf. asp 10. managementparadise. com/forums/principles-management-p-o-m/208682pest-analysis-retail-industry. html 11. http://encyclopedia. thefreedictionary. com/PEST+analysis 12.

Tools for Running Tree and Lumber Calculations

Tools for Running Tree and Lumber Calculations Jeff Brokaw is webmaster and creator of The Timber Buyers Network (TBN) which is a growing resource for people interested in forestry in the North Central States. His site hosts a fledgling forum and increasingly provides much needed information for forest owners and loggers in Michigan and surrounding states. Jeff has worked in the Wood biz for 22 years. His primary occupation is head sawyer for a large north central Michigan mill. Jeff is also an accomplished artist and has sketches on display from as far away as the United Kingdom. His interest in art is what led him into designing websites, and in a natural progression (for him), led to the creation of TBN . In his designing and messing with forestry things, Jeff, with forester Ron Wenrich, have designed several quick calculators to help you with simple estimates. You might never need your cruiser stick or volume tables again. Ill let Jeff describe each calculator: Tree Volume Calculator was designed to help answer the general question How much lumber is in my tree? This will give the landowner a close answer. Variables that we cant add, such as individual tree form, will always be a factor in determining volume. (Outputs in Doyle, Scribner and International scales)Use this calculator Board Footage Calculator is a handy little tool, not only in helping the landowner determine board footage needed for a project, but also a tool for the lumber producer to get a quick measurement on lumber sawn.Use this calculator Log Volumes Calculator is used to help a landowner measure the volume of a saw log just the way its done upon arrival at the mill. A specialized scale stick is not necessary, just a tape measure or ruler, and this handy calculator. (Outputs in Doyle, Scribner and International scale.)Use this calculator Tree Spacing Calculator is a great tool for determining seedlings needed per acre at a specified spacing, or estimating numbers of trees in a plantation setting.Use this calculator Hardwood Pulp Calculator will calculate the volume for non-saw log trees or Pulpwood. The calculator can return its output in cords, cubic feet, tons, cubic meters and metric tons.Use this calculator Lumber and Log Weight Calculator is a very, very, general estimator of weight by species per cord and B.F. It includes an explanation why weights can vary by many percentage points on similar volumes. Limited use for very rough estimates.Use this calculator Jeff is also the webmaster for several other forestry related sites. Those sites include The Michigan Association of Timbermen www.timbermen.org , The Michigan Forest Resource Alliance www.mfra.org and the Michigan Branch of the Sustainable Forest Initiative Programs website. www.michiganforest.com

Global Negotiation Strategies Essay Example | Topics and Well Written Essays - 250 words

Global Negotiation Strategies - Essay Example The parantara skill that often receives credit for driving business the Indonesian way stands out in the sense that it ensures neutrality between the interested parties throughout the negotiation process. Similarly, many Indonesians embrace the skill because it has other mechanisms of raising conflicting issues, thereby ascertaining that harmony prevails throughout the negotiation process. The event that the parantara skill of negotiation ascertains that there is no conflict throughout the negotiation process implies that it is effective. Its effectivity is similarly measured by the fact that it keeps the perceptions of the negotiating parties neutral throughout the process, hence resulting in a long-term association. To make sense out of negotiation as a whole, I looked into the reports of two of my classmates; one handled Saudi Arabia while the other dwelt on Belgium. I found the Saudi Arabian question interesting in that the parties are at liberty to be late for their discussions. On the other hand, it is uncalled for that negotiation in Saudi Arabia leave out mothers and women because they belong to the female gender (Cavusgil et.al, 2002). Similarly, it is interesting to note that pointing of fingers is unacceptable while carrying out negotiations in Saudi Arabia. The Belgians on the other hand embrace Flemish and Wallon strategies of negotiations. Negotiations in Belgium often take an exploratory manner; thereby looking at all the available options before settling on one. It is of great significance to recognize the fact that the Belgian negotiation culture is flexible, hence making them ready to compromise their stance in order to find a solution to any problems that