Mktg 205 Unit 4 Ip Principles of Marketing

Carrie Cunnien American Intercontinental University Unit 4 Individual Project MKTG 205 – Principles of Marketing Abstract This is a single paragraph, no indentation is required. The next page will be an abstract; â€Å"a brief, comprehensive summary of the contents of the article; it allows the readers to survey the contents of an article quickly† (Publication Manual, 2010). The length of this abstract should be 35-50 words (2-3 sentences). NOTE: the abstract must be on page 2 and the body of the paper will begin on page 3. Introduction Remember to always indent the first line of a paragraph (use the tab key).The introduction should be short (2-3 sentences). The margins, font size, spacing, and font type (italics or plain) are set in APA format. While you may change the names of the headings and subheadings, do not change the font or style of font. Definition of Marketing This content comes from the Unit 1 Discussion Board. Be sure to include the required citations and add the sources to the reference list. If your instructor suggested updates in the week 1 grading, those should be made with this submission. What is the definition of marketing?My definition is basically, what customers want, when they want it, where they want it, and at a price they are can afford to pay. Well I soon found out that everyone has their own take on the definition of marketing. These three I felt were the best because they made the definitions easy enough for me to grasp what exactly marketing means. The first source I used was from our text book Marketing tenth edition by Kerin, Hartley & Rudelius, (2011), their definition of marketing is it focuses on assessing and satisfying the needs of consumers. The second source was from Marketing. 2005), In International Encyclopedia of Hospitality Management, they claim marketing is the distribution of ideas, goods, and services. The last source I used was marketing. (2003), In The Macmillan Encyclopedia, their definition is a market of goods and services which is part of the marketing mix. This consists of four parameters packaging, product, pricing and place. They also feel that a company needs to keep up on the times and change their products to the consumer’s needs. This is the ultimate goal of all marketers and their companies. Introduction of Product/ServiceThis content comes from the Unit 1 Discussion Board. Be sure to include the required citations and add the sources to the reference list. If your instructor suggested updates in the week 1 grading, those should be made with this submission. The company that I chose to do my research on is Chocolate Bar: Food and Agriculture: Candy Manufacturing: Hersey’s Candy Company. I chose this company for many reasons because they are able to promote a product that can satisfy just about every person out there in the world. They have candy for every type of person imaginable.They have a variety of products for the chocoholics, health fanatics , and baking fanatics. These are all people that they promote their products to. Based on your definition, analyze whether the company should be considered good marketers or not. I would say that this company is definitely earned its reputation as a good marketer. They always find new ways to keep their loyal customers to keep coming back for more and more. Also the company has been around since 1894 and has been growing steady ever since. I think this speaks volumes of how well they promote their products.They listen to customer needs and wants and develop new ideas constantly. Which I believe are all elements of a great marketer. They also have their products world-wide which consists of 90 different countries. With Milton Hersey the founder of the Hersey Company is known for his humanitarian services like the school for orphans, creating a community and housing for all its 12,000 plus employees and executives according to, Milton S. Hershey: The Man and His Legacy/ The Hershey Co mpany. Situation Analysis — Marketing Environment Forces Impacting Product/Service This content comes from the Unit 1 Individual Project.Be sure to include the required citations and add the sources to the reference list. If your instructor suggested updates in the week 1 grading, those should be made with this submission. Market Force 1: Description and Analysis of impact on product/service The technological environment changes rapidly, and provides a strong tool for, marketers, consumers, and manufacturers. This age of information makes it possible for almost anyone to receive, or send information quickly according to Kerin, Hartley & Rudelius, (2011).This information is not limited to text, and it may include pictures, graphics, purchase options, and the ability to provide custom selections for a host of products. For the savvy marketers at the Hershey Company this opens the door to a wide variety of consumers. Market Force 2: Description and Analysis of impact on product/ service The economic environment plays a large role in marketing according to Kerin, Hartley & Rudelius, (2011). The economic environment force is the income, expenditures and resources that affect the cost of running a business and household, according to Kerin, Hartley & Rudelius, (2011).The impact this has on the Hersey Company is keeping prices affordable and production costs down. Market Force 3: Description and Analysis of impact on product/service In addition the social environment is the demographic characteristics of the population and its values, according to Kerin, Hartley & Rudelius. (2011). Also changes in this force can have a dramatic impact on marketing strategies, for example: the obesity epidemic in America has caused consumers to convert to healthy eating habits. This conversion has resulted in a reduction of confections consumed by some families.With the consumers eye on how corporations operate Hershey’s marketers must be ever vigilant to ensure the compa ny’s reputation remains positive. If a corporation is seen as having less than acceptable business practices consumers may decide to spend their money elsewhere Kerin, Hartley & Rudelius. (2011). Strategies to Overcome the Threats Some of the technologies strategies that the Hershey’s Company needs to overcome are a rapid exchange of information which allows consumers the opportunity to quickly spread news of any unsatisfactory experience or transaction they may have endured with the Hershey Company.Further once a negative incident is noted it has the ability to snowball as it is passed forward from one consumer to another. The economic strategies The Hershey’s Company needs to overcome are given the state of the current economy; consumers are less likely to purchase luxury goods. While chocolate bars are an inexpensive item consumers give consideration to their choices. With the wide variety of chocolate bars available commercial exposure to consumers must be c onsistent and of high quality (Mitchell, 2008).The social strategies that the Hershey’s Company needs to overcome is; having a responsibility to educate consumers on how confectionery can be a part of a balanced diet and a healthy lifestyle. Strategies to Capitalize on the Opportunities The technology strategy that Hershey’s Company capitalized on was commercials and television ads that are high in quality and that have catchy tunes and providing technical support and expertise to organizations such as the World Cocoa Foundation and the United States Food and Drug Administration, according to the Hershey’s Company website, (2009).On the social side the Hershey Companies strategies to capitalize on certain opportunities where, given the concerns of families of the health aspect of the Hershey’s candy they capitalized on this by responding to these concerns with sugar-free versions of some of our most popular products as well as snack-size and individually wrapped miniature items (most under 100 calories per piece) to enable portion control that meets the dietary needs of consumers, according to the Hershey’s Company website, (2009). In addition, we are involved in several efforts to promote healthy eating habits, weight control and exercise.They not only see to it that the community gets educated but also gives back to the community where they live and work by doing this they gain their support which enables them to succeed. On the social force, Hershey has responded to these concerns with sugar-free versions of some of our most popular products as well as snack-size and individually wrapped miniature items (most under 100 calories per piece) to enable portion control that meets the dietary needs of consumers according to the Hershey’s Company website, (2009).In addition, we are involved in several efforts to promote healthy eating habits, weight control and exercise. Marketing Strategy: Target Market(s) & Positioning T his content comes from the Unit 2 Discussion Board and Individual Project. Be sure to include the required citations and add the sources to the reference list. If your instructor suggested updates in the week 2 grading, those should be made with this submission. There are five stages a buyer passes through when they make choices about which products and services to buy. They are the first stage which is problem recognition, which means perceiving a need.The second stage called the information search is when you seek out the value of a purchase. The third stage is called the alternative evaluation and this is when a consumer assesses the value of a product. The fourth stage is when a consumer decides to make the final purchase decision and what the buying value would be. The last stage called the postpurchase behavior is when a consumer decides what the value in the consumption or use of a product would be if they indulged in the product and made the purchase, according to Kerin, Har tley & Rudelius. 2011). These are all stage in which a consumer finds themselves in when they decide to make that purchase. It is these actions that they will take in purchasing and using products and services. Out of the four factors influencing buyer behavior cultural, social, personal and psychological I decided that for the Hershey’s candy it would be personal and social. The reason I say this is because chocolate is a personal preference. It is what a person sees in the product that gets their attention and makes them want to buy that item.The social aspect of the Hershey’s candy bar is also this behavior because income level and consumption habits are major parts to the social class. Not to mention the price is cheap enough for them to indulge in a chocolate candy bar. In today’s market there is a need for healthier products in which Hershey’s has come through on. They have quit a few healthy products that better their chances of the consumer buying not only for themselves but also the family as well. For Hershey’s they use all different ads to appeal to all types of generations. For instance at Christmas they will run ads that target parents and children.The parents because they are the ones that will purchase the items and the children are the ones that will say what they like the best and that will be based on what ad they feel caught their mind and make them want to have that instead of a different item. Also Halloween, Easter, Valentines and the summer time, (such as parades) are all hot times for marketers to really step up to the plate and out beat the competitors for the consumers to want to buy their products because the volume in candy sales at this time are extremely high. According to Almond, S. (2009) he eels that with the economy in a slump this is when consumers will buy more chocolate than any other time because apparently there is nothing more soothing to a financially insecure than a candy bar because it is cheap and a quick fix when a person is hungry. Statics have found that in recent eras of depression the economic turmoil the consumers crave is the luxury of cheap sweets. Marketers and company officials understand that it is not always possible to charm everyone all the time in the same way. Further different groups or market segments require different relationships.This is to say that while some shoppers will be delighted with coupons or contest type promotions others would prefer free shipping or discounts for bulk purchases. In an effort to please both groups different approaches are used to present products, in ways and places that appeal to each group. With this in mind marketers zero in on customers in particular groups with the intention of presenting products and service in a way that best suits the particular group. This practice is known as market segmentation according to Kerin, Hartley & Rudelius, (2011).Additionally few companies have the capacity or desire to pr ovide truly exceptional products and service to everyone on every occasion. The process of segmentation enables marketers and companies to pinpoint consumer’s needs or desires. Segmentation does not necessarily eliminate some consumers; rather it enables the marketer to reach them in a different way according to Kerin, Hartley & Rudelius, (2011). Segmentation bases that may be profitable for Hershey’s chocolate bars are geographic, demographic, and psychographic. Geographic factors will be most relevant in the international markets and the business markets.In general Geographic’s are not relevant to the sales of Hershey’s chocolate bars. Except of course in the cities where the Hershey Company operates manufacturing plants. Demographics will have relevance based on who is doing the shopping, and how tight the budget is. Psychographics may prove the most profitable choice for market segmentation in the case of Hershey’s chocolate bars, according to the Hershey’s Company’s website. Also some lifestyles and personalities have an aversion to consuming chocolate the marketer’s efforts are better used elsewhere.Additionally because some lifestyles and personality’s include pleasure in the simple things segmentation by psychographics can separate these two groups according to Kerin, Hartley & Rudelius, (2011). Consumer buying behavior begins with how a product is marketed. Marketing includes the product itself, the price of the product, the products availability, and how and where the product is offered according to Kerin, Hartley & Rudelius, (2011). If a consumer feels that a product is too expensive or difficult to find many consumers will turn elsewhere for comparative products.Additionally if a consumer is not excited by the appearance of the product, or pleased with the way it is presented these consumers are likely to look for alternatives. Other factors that affect buying behavior are the social an d cultural environment that consumers live and work in, along with the consumers personal and psychological feelings. Each potential costumer is an individual, however buyers are members of groups and these groups affect buying decisions, sometimes subtly sometimes not. Further each individual is likely a member of several groups.Groups include family, friends, neighborhoods, religious affiliations, and others including nationalities according to Kerin, Hartley & Rudelius, (2011). Furthermore how the market appeals to these groups is paramount in some buying decisions. If a group places importance on a specific product the group members are apt to purchase that product or something similar at some point. The final purchase comes about due to a number of reasons. First the repeated exposure to it enforces a need for it, and then it becomes clear that the product is superior because everyone likes it and keeps using it.Finally the consumer decides they are able to afford it based on t he fact that other members in the group were able to buy it. Furthermore there are consumers who will buy the Hershey bar regardless of the price just because they are loyal consumers of Hershey products. Then there are consumers who will buy the chocolate bar that costs less or the chocolate bar that first catches their attention. The wise marketer understands that no one factor effects buying decisions all the time, but several factors work together within the consumer to create final buying decisions.Business to business marketing. Geographically speaking the Hershey Company will target their marketing strategy to business owners who operate or supply concessions or vending machines, along with grocery stores, and various retailers who sell snack foods. Local Business owners. These business owners will likely purchase the products in large quantities and with some regularity. Foreign Markets. In foreign markets this approach eliminates the need to reach individual consumers and a llows the local retailers to market the Hershey bar in ways they know will reach their customers.Demographics. When thinking in terms of demographics the target market for Hershey’s Chocolate bars might be parents who are of average income, and have one or more children. Age. 25 – 45. This target market will be profitable if the marketer remembers to market to the parent while embracing the family as a unit. Gender. Males and females are likely to be the main shoppers in many households these shoppers are the target market in this segment. Income. $25,000+ per year.Hershey’s chocolate bars are a convenience item and something of a luxury, persons with incomes lower than $25,000 per year are not likely to be regular consumers of luxury food products. Psychographics. Psychographic market segmentation will provide a target market of fun loving, happy people who embody a sense of enjoying every moment of life. Subscribe to Family Circle Magazine and the Disney Chann el This market segment has the potential to produce a growing population of loyal Hershey’s customers. Frequent amusement parks, county fairs, and children’s sports activities.This group will purchase Hershey’s chocolate for the pure joy of it, and will most likely introduce Hershey’s chocolate to their friends and family. According to the Nestle New Strategy, (2006), reports on the corporate strategy being employed by Nestle Corp. The company is planning to reorganize so that its wide product range can adapt to dynamic emerging markets. The company is aware on the need to calibrate their business strategy despite 20. 7% rise in net profits in 2005. Nestle is repositioning its products towards nutrition, health and wellness.The company also plans to build a new facility in Brazil to manufacture goods for low-income populations. The Mars Corporation positioning in the market consists of being the first confectionery company in the US to voluntarily impleme nt Guideline Daily Amount (GDA) nutrition labeling on all of its chocolate, non-chocolate confectionery and other food products. All packages will be redesigned to feature new graphics on the front and back of packages, which contain consumer-friendly, clear and easy to understand nutrition information that will help consumers make informed choices at the point of purchase.This announcement is part of a global initiative Mars is undertaking around the world. â€Å"Our redesigned labels are the latest examples of Mars' commitment to health and nutrition. By providing clear, concise and understandable information to consumers about what's inside all of our products, we will help them to make informed decisions about the foods they eat,† according to Bob Gamgort, president of Mars North America, (2008) â€Å"We make every effort to go beyond what is expected of a global food company. The product that the Hershey Company has competitive advantage over Mars and Nestle is the fact that they target the older generation with smaller bit size candies. The reasoning for this is because they are targeted them with the knowledge that smaller is healthier and less calories because the pieces are bit size. Not to mention an adult will consume less because they are more conscious of what they are putting in their mouths than say children and younger adults will. Another advantage that the Hershey’s Company has over other competitors is it is now targeting consumers that want a snack that is a 100 Calorie Bar and healthy.Hershey’s has come out with exactly those kinds of items such as York Peppermint, Wafer Bars, Reese's Peanut Butter Wafer Bars, Hershey's Pretzel Bars, Hershey's Special Dark Chocolate Bars, Hershey's Crisp Wafer Bars, Hershey's Whipped Vanilla Bars, which is more than any of the competitors have out in this category, according to the Hershey’s Company website. The Hershey Company will build their value proposition on product and image. The Hershey Company uses a value proposition of â€Å"more for the same† as stated by Kerin, Hartley ; Rudelius, (2011).To family’s who want time together and a taste of the good life Hershey’s Chocolate will evoke the sweetest memories and help create new ones. Product/Service Overview and Strategies to Consider This content comes from the Unit 3 Discussion Board. Be sure to include the required citations and add the sources to the reference list. If your instructor suggested updates in the week 3 grading, those should be made with this submission. The Hershey’s Chocolate bar is classified as a convenience product. Products classified as convenience products are generally inexpensive and easy to find.In order to market convenience products successfully marketers must ensure that prices remain low or equivalent to competitor’s prices. Additionally the products must be of consistent quality and packaged attractively. This author preferred the older type packaging with the chocolate wrapped in foil and slipped in to a paper sleeve. However it is clear there is a need for secure wrapping with one fully sealed package. This new packaging seems difficult to open without damaging the perfect shape of the chocolate bar but it cannot be tampered with as easily as it could have been with the previous wrapping.This is evidence that the Hershey Company is paying attention to what consumers need even when convenience must be secondary in order to ensure product safety. When marketing the Hershey’s chocolate bar some important factors in addition to packaging are; how to promote the Hershey brand, labels that identify Hershey products, where Hershey products will be sold, and how Hershey’s products will be displayed in retail locations. For example with convenience foods the items at eye level or within easy reach are more likely to be purchased than the same type of item on a high shelf or a low shelf.This simple pla cement can make a large difference in total sales over a period of time. The marketing strategies in use with the Hershey chocolate bar are to offer more for the same. This can be accomplished with a combination of great tasting chocolate at a reasonable price, prominent placement on store shelves, and providing clear indications that our products are Hershey’s products. Everyone knows that a Hershey bar is a Hershey’s product but how many people know who produces snickers or M;M’s? Pricing Strategy This content comes from the Unit 4 Discussion Board.Be sure to include the required citations and add the sources to the reference list. If your instructor suggested updates in the week 4 grading, those should be made with the Unit 5 Individual Project submission. When pricing Hershey’s chocolate bar’s marketers must consider several factors. Consumer’s expectations of the chocolate can directly affect the price. For example; Hershey’s pro mises a bit of happiness with each bite. On the other hand Godiva chocolates appear to be a cut above the average chocolate bar, and because of this expectation for something special Godiva chocolates sell at higher price. Another factor to consider is the actual cost to produce the chocolate bar. The price should cover the cost of production, overhead, and distribution and still allow for a viable profit margin. Also important when determining a price is the competition. It is important to know what comparable products such as nestles crunch or M;M’s are selling for. This knowledge allows Hershey to offer their candy at the highest price the target market will pay, according to Kerin, Hartley ; Rudelius. (2011).The pricing method I would use for the Hershey’s chocolate bar is cost based pricing with a target profit scale. While this method does not take into account consumer demand or value assessments, according to Kerin, Hartley ; Rudelius. (2011). In the case of ch ocolate bars it seems the best choice. In general people who want a chocolate bar expect only fresh candy that tastes great, no more and no less. Therefore the products value is in the taste and freshness, and this can be delivered by following a fixed schedule, which works well with a target profit approach.Further Product Mixed Pricing with an emphasis on Product Line Pricing will allow the candy maker to offer a variety of products in an array of sizes, according to Kerin, Hartley ; Rudelius. (2011). For example the Hershey bar comes in at least three sizes and is available with or without nuts. This variety can meet the needs of those who wish to share and those who do not while allowing for price differences to offset packaging and handling requirements. Distribution Channels This content comes from the Unit 3 Individual Project. Be sure to include the required citations and add the sources to the reference list.If your instructor suggested updates in the week 3 grading, those should be made with this submission. Overview of Distribution Channels Direct distribution is a model used by organizations to move products from production to buyer without the use of wholesalers and retailers, according to BusinessDictionary. com. By eliminating the number of parties involved in the distribution process, significant savings can be realized. An organization using direct distribution must sell and distribute that product using their warehouses and sales staff.Indirect distribution is a chain of intermediaries through which a product moves in order to be made available for purchase by a consumer, according to BusinessDictionary. com. An indirect channel of distribution typically involves a product passing through additional steps as it moves from the manufacturing business via distributors to wholesalers and then retail stores according to Business Directory. com. Overview of Channel Organizations A conventional distribution channel is loosely organized and each chan nel considers itself separate from the others.This type of distribution channel is not strong and it is unlikely to produce the best value for the consumer, according to Kerin, Hartley ; Rudelius, (2011). A vertical marketing system or VMS is a much stronger distribution system. A VMS includes at least one product manufacturer (or service provider), and a retail or wholesale outlet. The VMS generally has a leader and the separate channels work together with each channel supporting the other and forming a unit, according to Kerin, Hartley ; Rudelius, (2011). A horizontal marketing system occurs when two or more companies of equal strength ban together to create a new concept.This new unit may be experimental or long term and may include competitors or other members of a chain of distribution. By joining together these companies are able to provide goods or services in a better way for both the consumer and the companies, according to Kerin, Hartley ; Rudelius, (2011). Multichannel ma rketing systems are becoming more common, and seem to be the best way to market many products or services. Multichannel marketing systems include more than one chain of distribution, and provide many different ways for consumers to acquire the product or service, according to Kerin, Hartley ; Rudelius, (2011).Analyze Target Market’s Needs in Distribution Channels The analyses of the target market’s needs for the Hershey Company in the distribution channels would be in nontraditional classes of trade, such as drug stores, convenience stores, wholesale clubs and dollar stores, as well as in channels such as vending, food service and concessions. The target market channels would also be found in retailers, such as convenience stores, Wal-Marts, Targets, and grocery stores according to West, David, (2008).The target market in regards to the customers would be the chocolate lovers such as teens, children, females, and males, with the female population the highest. New targe t marketers would be the individuals looking for a low calorie snack with the chocolate taste they crave. Determine Channel Members with Explanation The channel members I would use for the Hershey’s Company marketing system would be wholesaler and a retailer. Adding three wholesalers is the most common for low-cost, low unit value items that are frequently purchased by consumers, such as candy, confectionary items, and magazines.Hershey’s sells its line of chocolate candy to wholesalers in case quantities, who then break down (sort) the cases so that individual retailers can order in boxes or much smaller quantities, according to Kerin, Hartley ; Rudelius, (2011). The intensive distribution would be the most beneficial channel for the Hershey’s Company because it is the most used one for products that need to go out to as many outlets as possible. The objective is to place its products â€Å"within an arm’s reach of desire. † Discuss How Many Chann el Members with ExplanationThere are three target market coverage channels that a company can choose to go through for the best target market coverage. The three target markets consist of Intensive Distribution which means a company tries to place its products in as many stores as it possibly can like candy, fast food, newspapers and soft drinks. The second coverage of the target market coverage is called exclusive distribution which is just the opposite of intensive distribution because instead of several outlets this one only goes through one retailer in a geographical area to carry a company’s product.This type is usually reserved for specialty products like women’s fragrances, men and women’s apparel and accessories. The last coverage of the target market coverage is called selective distribution. This coverage is for firms who want to only have a select few retailers to carry its products in a geographical area, according to Kerin, Hartley ; Rudelius, (2011 ). An example of this coverage would be computer companies like Dell who sells a limited range of its products to companies like Wal-Mart, Best Buy and Staples.The best coverage that was chosen for The Hershey’s Company would be the first coverage which was the Intensive distribution because Hershey’s want their products to be everywhere as to compete with the other candy companies. They want their consumers to have it available at arm reach. Every corner, every store, and every outlet they can sell their product. Another requirement to consider in a channel choice is gaining access to channels and intermediaries that satisfy at least some of the interest that buyers might want fulfilled when they purchase a company’s product.There are four broad categories which consist of information, convenience, variety, and pre- or postsale service. Out of these four I would recommend the convenience when satisfying buyer requirements because this has multiple meanings for buyers. Such as the driving time to a store which is open 24 hours a day 7 days a week to fulfill their cravings not to mention the company’s benefit by gaining display space. Channel Organization So after everything that we have learned about with channel organizations the best channel organization that I would recommend would be the vertical marketing system or VMS.The reason I chose this channel organization for the Hershey’s Company is because it is a much stronger distribution system. It includes at least one product manufacturer (or service provider), and a retail or wholesale outlet. The VMS generally has a leader and the separate channels which work together with each channel supporting the other and forming a unit, according to Kerin, Hartley ; Rudelius, (2011). Integrated Marketing Communications Introduce the concept and cite the resources DO NOT use the exact words†¦ be sure to indent the first line of the paragraph.Using direct quotes does not show yo ur mastery of the subject. Marketers need to remain aware of all communication that is related to their product. Each piece of publicity or media exposure should combine with the others to enhance the overall product message. The integrated marketing communications or IMC sets the tone for how the product is perceived and received by the consumer. It is imperative that the message is consistent and in line with the products promised value (Armstrong ; Kotler, 2009). Promotion Mix StrategyIntroduce the concept and cite the resources DO NOT use the exact words†¦ be sure to indent the first line of the paragraph. Using direct quotes does not show your mastery of the subject. This author would suggest that the Hershey Company use both a push strategy and a pull strategy with each to be used according to the market segment best serviced by the specific strategy. This is to say that when selling to business and vendors a â€Å"pull† strategy would be most effective. This would allow the sales force to build and maintain positive relationships with large scale buyers (Armstrong ; Kotler, 2009).On the other hand the Hershey Company would benefit with the use of a â€Å"push† strategy when marketing to individual consumers. This technique will allow the Hershey Company to take full advantage of their massive advertising budget, and the consumers will create a demand for the chocolate bar (Armstrong ; Kotler, 2009). Message Strategy Introduce the concept and cite the resources DO NOT use the exact words†¦ be sure to indent the first line of the paragraph. Using direct quotes does not show your mastery of the subject.The Hershey Company is well served with their simple message, Hershey’s will bring a little bit of happiness into every day. This message is simple yet consistent in all of the Hershey’s advertising, and is revealed in many ways which generally include friends or family and always good times. Hershey’s takes a sof t approach when sending this message and the consumer is made to feel content with the simple pleasure of a little bit of happiness. Promotion Tool #1 Introduce the concept and cite the resources DO NOT use the exact words†¦ be sure to indent the first line of the paragraph.Using direct quotes does not show your mastery of the subject. Promotion Tool #1 Advertising The Hershey chocolate bar will be promoted via advertising. This advertising will consists of TV commercials on the Disney channel, Lifetime and the three major networks. Also magazine ads will be placed in Family Circle and Better Homes and Gardens. These areas for advertisement have been selected based on the psychographic data related to the target market. Hershey’s message of putting a little bit of happiness in every day will be related by the big smiles and pleasant atmosphere depicted in the photos and commercials.Further the intent of these advertising tools is to remind consumers (Armstrong ; Kotler, 2009) that the Hershey bar is still the consumers favorite chocolate bar. Promotion Tool #2 Introduce the concept and cite the resources DO NOT use the exact words†¦ be sure to indent the first line of the paragraph. Using direct quotes does not show your mastery of the subject. Direct marketing via the internet will be used to promote Hershey products. On the Hershey websites consumers can purchase custom chocolate bars in orders large or small.Consumers can also send custom gifts for special occasions which are sure to bring a little bit of happiness to any recipient. The excitement of giving or receiving chocolate that has been selected and packaged for someone special is what will keep customers coming back to the website, and encourage new customers to purchase that something special. Promotion Tool #3 Introduce the concept and cite the resources DO NOT use the exact words†¦ be sure to indent the first line of the paragraph. Using direct quotes does not show your mast ery of the subject.Due to positive public relations the Hershey Company has enjoyed over 100 years of success (Company Profile, 2003). With today’s technology and the ability to exchange information rapidly, positive public relations are a necessity. The Hershey Company will continue to operate in a way that enhances communities and leaves a positive impact on places relevant to chocolate production (The Hershey Company, n. d. ). The Hershey company will maintain a website that allows consumers to explore all the ways in which the Hershey company enhances the lives of employees and consumers alike (West, n. d. ). ConclusionAdd some concluding remarks-can be a sentence or two. As you can see marketing the Hershey’s chocolate bar is not a simple task. However with careful planning and continued efforts to understand consumers desires the Hershey Chocolate bar will enjoy continued success. References direct distribution. BusinessDictionary. com. Retrieved April 06, 2012, from BusinessDictionary. com website: http://www. businessdictionary. com/definition/direct-distribution. html indirect channel of distribution. BusinessDictionary. com. Retrieved April 06, 2012, from BusinessDictionary. com website: http://www. businessdictionary. om/definition/indirect-channel-of-distribution. html Kerin, Hartley ; Rudelius. (2011). Marketing Tenth Edition. The McGraw-Hill Companies, Inc. ISBN: 978-0-39-013641-1. New York, NY. Retrieved on April 6, 2012 from https://mycampus. aiu- online. com/pages/MainFrame. aspx? ContentFrame=/Academics /Pages/ Orientation. aspx West, David. (2008). The Hershey Company Business Update Call Transcript. Retrieved on April 8, 2012 from http://seekingalpha. com/article/82178-the-hershey-company-business- update-call-transcript Kerin, Hartley ; Rudelius. (2011). Marketing Tenth Edition. The McGraw-Hill Companies, Inc.ISBN: 978-0-39-013641-1. New York, NY. Retrieved on April 6, 2012 from https://mycampus. aiu- online. com/pages/MainFr ame. aspx? ContentFrame=/Academics /Pages/ Orientation. aspx The Hershey Company. (2011). Hershey Announces Third Quarter Results; Updates Outlook for 201. HERSHEY, Pa. , Oct 27, 2011 (BUSINESS WIRE) –The Hershey Company (NYSE: HSY):http://www. thehersheycompany. com/newsroom/news- release. aspx? id=1622319 Kerin, Hartley & Rudelius. (2011). Marketing Tenth Edition. The McGraw-Hill Companies, Inc. ISBN: 978-0-39-013641-1. New York, NY retrieved on March 21, 2012 from https://mycampus. aiu- online. om/pages/MainFrame. aspx? ContentFrame=/Academics /Pages/ Orientation. aspx Company Profile (2003). The Hershey Company. Retrieved March 25, 2012 from http://www. thehersheycompany. com/about/profile. asp Kerin, Hartley & Rudelius. (2011). Marketing Tenth Edition. The McGraw-Hill Companies, Inc. ISBN: 978-0-39-013641-1. New York, NY retrieved on March 21, 2012 from https://mycampus. aiu- online. com/pages/MainFrame. aspx? ContentFrame=/Academics /Pages/ Orientation. aspx The Hershey Company (n. d. ). Environmentally sustainable coca farming. Retrieved on March 25, 2012, from http://www. thehersheycompany. om/social-esponsibility/introduction. asp West, D. J. (n. d. ). Corporate Social Responsibility. Retrieved March 25, 2012 from http://www. thehersheycompany. com/social-responsibility/introduction. asp The Hershey Company (n. d. ). Nutrition & Wellness. Retrieved on March 25, 2012 from http://www. thehersheycompany. com/nutrition-and-wellness. aspx Gamgort, Bob, (2008). Mars first confectionery company to launch front of pack nutrition labeling globally. Mars Press Center. Retrieved on April 1, 2012 from http://www. mars. com/global/press- center/press-list/news- releases. aspx? SiteId =94&Id=1473 Kerin, Hartley & Rudelius. 2011). Marketing Tenth Edition. Chapter 9 Market Segmentation, Targeting, and Positioning. The McGraw-Hill Companies, Inc. ISBN: 978-0-39-013641-1. New York, NY retrieved on March 31, 2012 from https://mycampus. aiu-online. com/ pages/Main Frame. aspx? ContentFrame=/Academics/Pages/Orientation. aspx ‘Nestle's new strategy'. (2006). Country Monitor, 14, 30, p. 5, Business Source Premier, EBSCOhost, Retrieved on April 1, 2012 from http://ehis. ebscohost. com. proxy. cecybrary. com/ehost/detail? vid=5&hid=121&sid=d8852264-be1b-4312-b9e5- 2f18af6abc9b%40sessionmgr14&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=buh amp;AN=22043473 The Hershey Company (n. d. ). Nutrition & Wellness. Retrieved on March 25, 2012 from http://www. thehersheycompany. com/nutrition-and-wellness. aspx Almond, S. (2009, May 01). Taste: The Candy Man Can. Wall Street Journal, pp. W. 13-W. 13. Retrieved on March 31, 2012 from http://search. proquest. com. proxy. cecybrary. com /abicomplete/docprintview/399076809/fultext/135C1E3BE2766F378F5/2? accountid=14 4459 Kerin, Hartley & Rudelius. (2011). Chapter 5: Understanding Consumer Behavior. Marketing Tenth Edition. The McGraw-Hill Companies, Inc. ISBN: 978-0-39-013641-1. New York,NY retrieved on March 31 , 2012 from https://mycampus. aiu- online. com/ pages/ MainFrame. aspx? ContentFrame=/ Academics/Pages/Orientation. aspx Kerin, Hartley ; Rudelius. (2011). Marketing Tenth Edition. The McGraw-Hill Companies, Inc. ISBN: 978-0-39-013641-1. New York, NY retrieved on March 21, 2012 from https://mycampus. aiu-online. com/pages/MainFrame. aspx? ContentFrame=/Academics/Pages/Orientation. aspx Marketing. (2005). In International Encyclopedia of Hospitality Management. Retrieved on March 21, 2012 from http://www. credoreference. com. proxy. cecybrary. com/entry/esthospitality/marketing Marketing. (2003).In The Macmillan Encyclopedia. Retrieved on March 21, 2012 from http://www. credoreference. com. proxy. cecybrary. com/entry/move/marketing Milton S. Hershey. The Man. (n. d. ) retrieved on March 21, 2012 from http://www. thehersheycompany. com/about-hershey/our-story/milton. aspx NOTE: The reference list starts on a new page after your conclusion. Armstrong, G. , ; Kotler, P. (2009). Marketi ng: An Introduction (9th ed. ). Upper Saddle River, NJ: Prentice Hall. Company Profile (2003). The Hershey Company. Retrieved June 11, 2010 from http://www. thehersheycompany. com/about/profile. asp Discover Hershey’ (n. . ). Company History. Retrieved June 11, 2010 from http://www. thehersheycompany. com/social-responsibility/introduction. asp Hershey boosts marketing to make up for missteps. BNET. Retrieved June 14, 2010 from http://industry. bnet. com/food/100081/hershey-boosts-marketing-to-make-up-for- missteps/ Hershey’s International (n. d. ). Hershey’s Retrieved June 11, 2010 from http://www. hersheys. com/international/index. asp? ICID=HER1038 â€Å"Marketing† A Dictionary of Business and Management. Ed. Jonathan Law. Oxford University Press, 2009. Oxford Reference Online. 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Wearing a Mask, Making a Contrast

Alex Lu 2012/10/24 ENG2100+2150 Professor Lombardi Wearing a Mask, Making a Contrast â€Å"Under the Red, White, and Blue then wear the gold hat, if that will move her; If you can bounce high, bounce for her too, Till she cry ‘Lover, gold-hatted, high-bouncing lover, I must have you! ’† This beautiful and connotative quote appears at the beginning of the novel, The Great Gatsby. Gatsby wearing his gold hat, a kind of masks represent wealthy and upper class, dream one day he could have Daisy again.As a matter of fact, not only Gatsby, but also other main characters involved in this masterpiece all put on their own false fronts in order to chasing their dreams of life. However, the reality makes them back to earth. Those contrast between dream and reality happened in the novel deeply express their characteristic so far as to the true reason of the Great Gatsby’s tragedy. First of all, Gatsby, who appears in the title of novel, is the most significant characte r we should analysis.His false fronts can be concisely concluded from the quote at the very beginning—The Golden Hat, a simple but accurate symbol, show readers that Gatsby live a very luxury but vacuous life; it seems that Gatsby who wearing a brilliant hat dance and bounce in order to cheer Daisy up, hope those material stuff, which also let Gatsby lose Daisy, can help him win Daisy back. * Gatsby deliberately builds up an image that a secret rich man who hold luxurious parties every night, Meanwhile, no one knows him clearly include his only friends Nick.The following piece of writing, which impressed me most in whole story, can show that Gatsby try his best to leave everyone a good impression, a gentle man he is. â€Å"It faced – or seemed to face – the whole external world for an instant, and then concentrated on you with an irresistible prejudice in your favor. It understood you just so far as you wanted to be understood, believed in you as you would like to believe in yourself, and assured you that it had precisely the impression of you that, at your best, you hoped to convey. His image deed helped him gain so many attentions of Daisy and false friendship, which make him feel satisfied. Nevertheless, this kind of false front not only became a tough shield at last that keeps all right values as well as real Daisy away from his mind, but also bounds him tightly, because of which, at Gatsby’s funeral, only did Nick and Gatsby’s old father attended. In this situation, I contend that it is his false front, which Gatsby want to contain, destroy his dream of Daisy and furthermore an American dream. Next, I believe that Daisy is a very complicated woman, who still has desire to chasing true love; not only a mammonist. Nonetheless, because of the fact that Daisy was raised up by an old money family, she wasn’t able to abandon those wealthy life and constraint from old money. Acting as an elegant lady who come from Noble family gradually become her false front. * I contend that her false front make her become a totally loser in love. As I mentioned above, Daisy was a girl raised up in a rich environment.Lavish party and social contact with different rich guy had already become part of her life or even her value. I don’t think Daisy is a devil who only cares about money and power like lots of people comment. On the contrary, she expects a lover who deed loves her will appear one day. Coincidence is that Gatsby run her lives when she found Tom have a mistress. If she was a materialist, she would leave Tom immediately without any hesitation. As the matter of fact, she didn’t do it.Even when Gatsby and Tom quarreled together about who Daisy loved truly, Daisy said that, â€Å"I did love him once – but I loved you too.. † According to her words, she still had a tender side instead of a money search engine. The mask she put on is the key that cause Daisy’s complicated f eeling about Tom and Gatsby. On the one hand, she wanted to keep her arrogant figure, whereas she wanted to chase love either, which leads the conflict in Daisy’s heart. Finally, Daisy lost her last opportunity to abandon the whole stale tradition. In this layer, she is definitely a loser and a tragic character. Finally, although most readers of the Great Gatsby have believed that Nick may be the only good rational person in the novel, I contend that he put on his mask either. Nick is a common youngster after world war one who wanted to live in upper class, whereas didn’t know whether he can get used to it. So, he met his cousin, Daisy, and her husband, an old money, in order to participate in their social hub. In the novel, Nick was disturbed by Tom and Gatsby and give in finally, even if he didn’t want to join their countless party and other social activities.Nick put on his false front to pretended that he was one of them, those upper class people, because of which, he experience this whole tragedy. At last, just like Nick himself said that he gets tired of all those crazy people. Thanks to his mask, he was able to see upper class crystal clear. * Those masks mentioned above isolated each character. With the help of masks, each character created a gap between their heart and their appearance. It is those un-bridged gap made by false front result in the final tragedy.

Staffing Organizations-Part 1 Essay Example | Topics and Well Written Essays - 1000 words

Staffing Organizations-Part 1 - Essay Example Be clear. Be polite. Know people’s names, and use them. Recognize that everyone has a life outside work. Show sensitivity, be accommodating, and don’t pry†Ã‚  (Fox, 2012). The employees should be told how they are to address those in authority. The names should be said clearly and slowly during introduction sessions with new workers so that they recognize the correct pronunciation. Spelling the name would not hurt and will only help. Follow these rules to maintain harmonious relations with the staff: keep an even tone while talking, as tone plays an important role in communication. Correcting mistakes, one of the best ways to help employees reach their potential, can be done very politely and in a private space. Shouting at people, even those of them who deserve it, is infrequently effective. Try maximum as to provide clear directions. Nobody is perfect and this just opens room for even the authoritarians to commit errors, which requires them to own up to their mi stakes. If someone else is responsible for a mistake, the error should not be focused on more, rather the circumstances and solutions should be sought after. 2. Suggest ways in which you can avoid claims of disparate treatment. Human Resource Departments require handling circumstances efficiently with similar treatment of every employee in order to avoid discrimination under human rights and further federal discrimination laws covering various elements such as age and disabilities. Follow a detailed process of documentation as well as keep a checklist to avoid bias complaints in the industry. Disparate treatment care for employees should be provided less positively based on religious views, age, sex, race, national identity or ethnicity. An outline of discrimination of laws in the US would lead to an illegal execution of lawsuit that can provide the courts with a reason to allow a worker on disparate treatment. If some employees are warned before termination while others are not, bu siness shows weakness under discrimination laws and disparate treatment. 3. Identify the type of external influences that could hinder staffing and how you would address  them. Staffing procedures are very important to any institution, as they determine the value of workers. Many internal issues influence the staffing procedure along with external issues.  If workers are to perform well, certain actions need to be taken to ensure calm and planned work surroundings.  Ã¢â‚¬Å"In the staffing organizations model, staffing system management is needed to provide direction and control for the staffing system components and external influences.   Essential to that process is the concept of business ethics.   Ethical practices seek to raise ethical expectations, encourage ethics discussions, encourage ethical decision making, and prevent and/or identify misconduct†Ã‚  (Staffing Organizations, n.d.). Some of the major external issues that could hinder staffing include the foll owing: Micro-management Poor leadership Low compensation Not enough training Little appreciation 4. Create a plan that you can use to deal with employee shortages and surpluses. The biggest labor problem that a small business owner would confront is definitely that

Law of Evidence Essay Example | Topics and Well Written Essays - 2500 words - 3

Law of Evidence - Essay Example This is often done to preserve some fundamental elements of the constitutional conventions and legal traditions that have been preserved for generations in English law. This paper will examine the circumstances under which the burden of proof is reversed from the accuser to the accused. It will also identify how the court rationalise their decisions in these circumstances and situations. A tradition upheld in English legal tradition is that an individual is innocent until proven guilty in criminal proceedings. This is the concept of the presumption of innocence which means that the burden of proof will be on the prosecution rather than the accused. This was made in the landmark ruling of Woolmington V DPP2 where the precedence was set for prosecutors to prove that a person had broken the law before any proceeding could commence in criminal law. The case of Woolmington V DPP indicated that the prosecution has two burdens of proof, evidential burden of proof and legal burden of proof3. The evidential burden of proof is the sensible proposition to assert there is a matter fit for the accused person to be prosecuted. However, that does not prevent the prosecution from presenting evidence during the actual trial. The evidential burden of proof is to ensure that a person arrested on a given charge is actually in breach of a valid law of the land. Evidential burden is meant to ensure that there is a compelling reason for the prosecution to go ahead. It is about the ability to link the accused to what s/he is actually being accused for. During the hearings, the prosecution must present evidence to support the claims on the basis of the points of law, presented by the judge. In other words, when examining the English legal system, it is apparent that cases are presented to judges who present the facts to the jury who in turn scrutinize the facts and come up with a verdict. Thus, evidential proof and

Individual Reflective Report Essay Example | Topics and Well Written Essays - 1500 words

Individual Reflective Report - Essay Example The evaluation aims to explore strategic patterns and outcomes, highlighting the approach to strategic decision-making adopted within the group in its handling of strategic issues and tensions like puzzle, dilemma, trade-off or paradox. The report also refers to the core module materials in our discussion. The core module materials refer to attachment and referencing requirements. The report has evidence of strategy, leadership, and significant learning related to strategy and career future. It also includes team behavior, coordination in the group. Good planning, monitoring, evaluating, and enhancing the contribution of the group by setting up comprehensible links between the past, present and future plans and development results. Monitoring and evaluation helps the group to extract information from the past and present, which are used as a basis of pragmatic, fine-tuning, reorientation and future planning (De Wit & Meyer 2010). Effective planning helps to establish whether the grou p work is progressing, moving in the right direction and whether success can be acclaimed in the future. 2.0 Team Role 2.1 Individuals role in the group (a) The group acting product manager The product manager takes the role of comprehending the market demands and trends and aligning those demands to the roadmaps of Vassal Mobile Company. ... (c) Technology officer The technology officer has the role of product innovation and development of its technology as Vassal Technology Officer. The technology officer concentrates on progressive technology products growth and ensuring they are successful to global new markets (Fleischer & Bensoussan 2004). 2.2 My role as the group coordinator As the group chairman, I coordinate the company’s business growth and guide the strategic direction (Fitzroy & Hulbert 2005). I lead and make prosperous technology of the company in the area of Distribution of product, Cable, Mobile and industries of Semiconductor. I lead venture, estimate funds of providers of hardware/software infrastructure concentrating on management of the rich media. I lead innovation and technology development of product as coordinator of Vassal Technology group. In this way, my focus is on creating progressive technology product and to successfully bring these mobile products to new markets. As the team coordinat or, I ensure there are markets of Cable, Internet and Enterprise, as they have grown in the rich media growth. It is through this process that I have comprehended the main technology and drivers of the market and have realized how multiple companies tackle the challenges. 3.0 Strategies 3.1. Strategy management of Vassal Mobile Company group Vassal company experience in sales and marketing, as an initial technology in old and present day media, has set the goal of acquiring 500 clients consisting of the present media, social TV and marketing through the internet. The leading company teams build infrastructure technology in platforms of retail and network while

Sport Management - Grix, J. and Carmichael, F. (2012), Why do Essay

Sport Management - Grix, J. and Carmichael, F. (2012), Why do governments invest in elite sport A Polemic - Essay Example To do this, Grix & Carmichael (2012) analyse previous literature on the topic to ascertain whether the reasons that are commonly provided for such large investments in elite sport are justified and have been scientifically proven to their standards. In turn, this essay will provide a thorough analysis of the article by using a summary and a strictly defined set of criteria that will show the contribution to knowledge that the article gives and the way that this can be incorporated into further research. Grix and Carmichael (2012) have identified that elite sport has often had a huge amount of investment in many developed democracies, and this investment has not often been questioned or examined. The article suggests that the very reasons for high investment in elite sport, such as increasing participation in non-elite sport, are not often backed by substantial research and therefore the need for such levels of investment needs to be examined. Grix and Carmichael (2012) identify that the reasoning behind funding elite sport is based upon the ‘virtuous cycle of sport’, a term they use to refer to the thought that high levels of achievement in elite sport leads to a feel-good factor for the nation and higher levels of participation. They also argue that it is linked to the double pyramid theory, in that more people participating in sport in general will lead to the generation of more Olympic champions, which will in turn booster morale for the country and so on. The rationale for investing in sport to promote participation seems like a strong argument, particularly as levels of activity are at an all-time low and obesity levels are rising (Carmichael et al, 2012), which in turn gives a higher amount of pressure on the National Health Service. Additionally, Grix and Carmichael (2012) identify the increase of community cohesion for those who participate in sport, but the argument here is that increasing funding

Global strategy unit Essay Example | Topics and Well Written Essays - 3000 words

Global strategy unit - Essay Example The analysis ends which a brief understanding regarding what measures the company is require to undertake so as to enhance their market presence. Aldi is a global supermarkets chain, with their headquarters located in Essen, Germany. The company has approximately 8000 stores located in different nations of the world. Aldi’s stores were first opened in the year 1990 in the U.K. There are currently 512 Aldi stores located in the U.K. Aldi mainly sells food items and beverages. Majority of the products of the company are the less expensive household items and most of these products are Aldi’s own brand. In order to sustain competition, enhance sales and attract a larger target market, the company incorporates selling a number of branded items. The number or brands sold by Aldi in their electronics and kitchen appliance category have also enhanced in the recent times. The company also provides weekly and seasonal discounts on it more expensive category of products. Such discount items also includes clothes, flowers, toys and stationeries. Internationally the stores of Aldi are subdivided into two groups, Aldi Nord a nd Aldi Sud. The U.K chain of Aldi stores fall in the Aldi Sud Category. Over the years, successful business operation and suitable market strategies have facilitated Aldi into becoming one of the valuable retail chains globally. In the U.K the operations of the company are mainly based upon the limited assortment technique. According to this concept, high quality products are restricted to a small number of brands and categories, to be purchased in bulk and sold at competitive prices. Every business activity of the company is undertaken with the motive of creating savings. Discounts are usually seen to be passed on to the consumers through the end selling prices (Barney, 1991). The current project aims to analyse the corporate and business strategies of Aldi in the U.K and accordingly understand the viability of firm’s

Leadership Model Essay Example | Topics and Well Written Essays - 750 words

Leadership Model - Essay Example With some mettle and wisdom, an individual becomes a successful and an effective leader. This paper seeks to review the leadership model adapted from Montgomery, Copley, and Associates and use it to select any Northouse case study that has not been assigned as a critical thinking activity. Also, the paper will use the outlined model to express personal and professional experience as a result of the implementation of the model. Northouse (2010) and his counterparts colleagues have drafted many literature pieces suggesting that leadership behaviors are partitioned into four major groups. The structural framework consists of leaders that focus their attention on the organizational environment, policy implementation, product testing, and organizational structures. In a compelling leadership circumstance, the structural leader is a social modeler with a unique leadership that is based on outline and analysis. However, in an ineffective leadership circumstance, the structural leader behaves like a tyrant who concentrates on details only. The human resource framework consists of leaders who frequently communicate with their workers and encourage them to uphold the image of the organization. As a result, they provide opportunities, enhance cooperation, coordinate decision-making process, and support workers in the organization. Human resource leaders are considered catalytic in an effective situation. They are also viewed as fraud master especially in an ineffective circumstance. Other frameworks include political and symbolic frameworks. For political framework, the leader is considered an advocate that helps to build the organization by establishing a platform for coalitions and partnerships. However, such a leader would be considered ineffective if the person manipulates the workers in an organization. The symbolic framework allows leaders who impress most of the workers in an organization. Symbolic leaders are a source

The Pros and Cons of Obamacare Outline Assignment

The Pros and Cons of Obamacare Outline - Assignment Example I will outline important information about the objectives and effectiveness in accordance with which, healthcare plans along with policies are implemented in the nation. Additionally, the performances of the healthcare policies will be discussed in order to obtain information relating to health care and insurance coverage. Accordingly, the reasons for reforms in the healthcare plans will be justified in this particular section. The reasons identified in relation to the healthcare reform will provide important information about the changes made in the Obama Care reform legislations. The healthcare plan has been intimated with certain benefits that include rights, benefits along with protections. On the other hand, opposing views will be presented in this section, on the grounds of which, the healthcare plans has been opposed by the opponent political group. The thesis statement will provide an overview of the major points in relation to the benefits along with limitations that are associated with the healthcare plan, which will be further discussed in the main content part of the paper. I will also discuss about the future prospect of the healthcare plan that it might continue as more beneficial as an affordable act. I will discuss about the different benefits in a comprehensive manner, with the intention of which, the healthcare plan has been initiated in the US. Additionally, in this section, I will include various rights along with protections that are provided to the US people. I will discuss the importance of the plan for the development of healthcare facilities and medical services. The limitation of the healthcare will also be discussed elaborately in this section. Presently, adequate investments are being made in order to ensure that healthcare policies, in accordance with the Obama Care plan, are developed in an effective manner.

Material Resource Planning Essay Example for Free

Material Resource Planning Essay A. what is Material Requirement Planning (MRP)? Material Requirements Planning is actually a tool for planning; mainly aimed at assembling all operations in a production system, in order to enable the supplier know the materials required by every unit of production and the associated time limits (Waldner, 2011). After knowing the product units required, it becomes possible to use Material Requirements Planning, to determine the materials that will be needed in the production of such products. The calculations of the material requirements and subsequent planning are enabled by computer software in most working and business organizations (Waldner, 2011). B. How Materials Requirement Planning (MRP) might be applied to: 1. The surgery suite of a hospital In a surgery suite of a hospital, Material Requirements Planning may be helpful in determining the type, amount, quality and quality of the materials required, for a specific number of a given type of surgery. Material requirements planning may be applied through grouping of various types of surgeries that are offered or required over specified duration or period of time (Waldner, 2011). After dividing the surgery suite into different surgery units, where specific types of surgeries are done, the number of every type of surgery required is then calculated. In each unit, Material Requirements Planning can be used to calculate the specifications of the materials that will be required to carry out a single surgery. Therefore, MRP is a vital aspect in this field, and it enhances planning for efficiency, effectiveness, and timeliness of surgery operations being carried out (Waldner, 2011). 2. Scheduling university classes University classes have to be scheduled in order to avoid appearance of different classes at the same time. Material Requirements Planning will be helpful in scheduling university classes, by making arrangements to ensure that every class is allocated its own time, and that, no other class appears within that particular time set for a specific class (Waldner, 2011). When scheduling classes, there is need for estimation of the materials required especially when making the budget (stationeries, equipments and other learning materials). For instance, after knowing what the class intends to do, MRP can be applied to determine the material requirements for each class (Waldner, 2011). 3. A chain of restaurants In a chain of restaurants, Material Requirements Planning will be important in separating the restaurants into single units, and to determine the materials, or any other necessities required for each restaurant. The only thing that is needed is to know the type of activity, or the product intended to be offered in each restaurant, and the associated specifications. This information will enable calculation of all the raw requirements for every restaurant to achieve the intended purpose, or come up with the intended products and services. Examples of the requirements that will be calculated include construction materials, food materials, and furnishing materials (Waldner, 2011). 4. Hotel renovations When renovating a hotel, there is need for planning of the materials required to carry out an effective and efficient renovation practice. Over-estimation or under-estimation of the materials required, will lead to either wastage of funds, or shortage of materials. Material Requirements Planning will actually help in coming up with planning process, which will see the whole project consume exact materials needed without wastage or shortage (Waldner, 2011). After knowing the kind of renovation required and the outcomes expected, Material Requirements Planning program can be used to calculated the exact quantity, quality, and price of the materials, and other  requirements, that may be necessary to accomplish the whole renovation process. Material Requirements Planning, in this case, can be used to plan for labor and other physical materials necessary (Waldner, 2011).

Do Mergers and Acquisitions Fulfil Desired Objective?

Do Mergers and Acquisitions Fulfil Desired Objective? Do Mergers And Acquisitions Fulfil Their Desired Objective? And How People Are Affected By the Result of These Mergers? Dissertation Table of Contents CHAPTER ONE: INTRODUCTION 1.1 BACKGROUND Restructuring of a firm has become a major area in the financial and economic environment all over the world. A company may grow internally, or externally. The aim of the management is to maximize the profit. Most firms grow through internally which take place when firm’s existing divisions grow through normal capital budgeting activities.(S.Vanitha 2007) The industrial restructuring has raised important issues both for the business and for public moreover merger and acquisitions may be critical to the strong expansion of business firms as they evolve through successive stages of growth and development and most important for new product markets by a firm may require M and As at some stages in the firm’s development . The successful competition in international markets may depend on capabilities obtained in a timely and competent fashion through M As. (M Selvam 2007) Merger and acquisitions continues to experience dramatic growth. Record breaking mega mergers have become popular in the world. In the last ten years and onwards some of the largest mergers and acquisitions took place in Europe. This was underscore by the fact that the largest deal of all time was a hostile acquisition of a German company by a British firm.(Beena P.L 2000) Since the start of twenty first century the nature of merger and acquisition even more common in the economical growth. It becomes even more global especially in Asia, Latin and South America. Over the past quarter of the century we have noticed that merger waves have become longer and more frequent in between shrunken as well when these trends combined with the fact that MA has rapidly spread across the modern world, we see that the field is increasingly becoming as ever more important part of the worlds of corporate finance and corporate strategy. (Canagavally , R.2000) Merger and acquisitions are plays very important part in corporate strategy. They are the interesting and controversial tools if the firm do not want to grow internally by capital investment and it can affect the shareholders wealth of both the firms (Legare.1998). The management of the target companies is worried about their jobs that can be affected; the cost reduction strategies consists of reduction in labour force (Gould, 1998) the strategies at both local and national levels are important and concerned at transactions in their industries. e.g (defence utilities etc.) Customers and suppliers are interested , as they want to know who they will be dealing with in the future (Buono. 2003). All the big deals are therefore reported in the media, receive a large coverage, and get the attention of the public as well. People are very important part of any organization but due to the increasing numbers of mergers between the companies they are largely affected and most of them get caught up in a merger or acquisition-by chance, Many of the people after working four –to five years period are losing their jobs and facing severe reductions in status and responsibility and, in general, being confronted with major questions about their careers, As a result , at times we are unsure whether our own feelings about what is happening to these individuals are biasing our interpretation of what is going on. In this project the writer going to research on mergers between the professional services firms. According to Steven et al (2000) mergers and acquisitions decisions that are undertaken based on financial analysis, influence and legal positions , However , it has been proved by a number of researchers that factors like informal power, low productivity , poor quality , reduced commitment , hidden costs and voluntary turnover prevent the combined banks from reaching expected performance levels (Legare 1998). This is the reason that many companies face difficulties then they pass through their post-integration processes (Buono 2003) According to Catwright Cary (1995) that mergers and acquisitions should be seen like marriages where both parties will is very important for the success of new entity. At the time two different companies decide to come together as a result of MA activity, then the levels of instability in the macro and micro environment of both companies is challenged. So it is therefore been recommended that companies should chose the most appropriate merger and acquisition process and strategy. However Buono (2003) has suggest that each possibility has its own strengths and weaknesses and therefore context of MS and its main objectives play important role. Cartwright and Cooper has pointed out that MA depends upon combination of related functions like integration of people, systems, practices and culture. The critical review of the literature has recommended that most of research has been focused at studying single characteristics of MA in isolation. Moreover the dynamics of MA variables that impact on success and failures ratio has not been undertaken in the literature and there is a gap for research. This study will be focus to explore the major drivers and variables and their effect on the success of merger and acquisitions across industries from a corporate strategic perspective. 1.2 Rationale behind Research: Mergers and acquisitions is one of the common strategies in today’s business world. Gould (1998) has conducted a survey involving 12000 managers from different countries and according to the result of his survey more then 1000 companies were involved in acquisitions or a merger in two years between 1995 and 1997.moreover merger and acquisitions has become the leading strategic options. However, the performance of the combined companies has been lower than expected. According to Buono (2003) the basic drivers of MA only involved in financial, operational and strategic aims and objectives. So therefore my main area of focus of this research is to explore the major drivers and variables and their effect on the success of merger and acquisitions across industries from a corporate strategic perspective. 1.3 Aims and Objectives: The basic aim of this project is to understand whether mergers and acquisitions always fulfil desired objective. The aims specific areas are as follows. To explore the major variables that impact on the success of merger and acquisition different industries from a corporate strategic perspective To explore the corporate strategy in achieving desired results from MA activities To evaluate the impact of the mergers on an employees and examining the programmes for dealing with separation anxiety for employees. 1.4 Dissertation Structure: The official Structure of the dissertations is being applied which is provided by the university and analysis has been done which suit the theme and the objectives of the research. The structure of this report is summarized as follows: Chapter 1 Introduction of the research topic and lays the basis for the rationale of selection of the theme under scrutiny. It introduces the effect of MA on business and effects that they expected. The chapter also summarizes the rationale for selection of topic and states the aim and objectives of this research. Chapter 2 Consists of review of the literature that has been produced in the domain of mergers and acquisitions and their desired effects for companies. It has highlighted some of the highly respected literature in the field of aims and objectives of this research. Chapter 3 Provide the methodology and strategy adopted by the researcher to undertake this research. It points out the strength and weaknesses of using different data collection mechanisms and has shown how they fit in the larger context of aims and objectives of this research. Chapter 4 very important chapter consists of analysis and findings regarding the importance of strategic alignment within a merger or an acquisition activity with the help of a range of case studies. The chapter developed recommendations for companies under the light of macro indicators, theories and qualitative data gathered through this research. Chapter 5 provides a comprehensive conclusion from this research and gives a list of recommendations for companies that can be drawn from this focused research. Chapter 2: Literature Review In this chapter an attempt has been made to briefly review the research already undertaken and methodology employed moreover the study has been produced in the domain of aims and objective of the project and it has been divided into number of different sections so that reader understand with ease. 2.1 Overview: Concept of Merger and Acquisition: Over the last few years different companies have engaged in domestic and international mergers and acquisitions to match the macroeconomic trends operating on a worldwide scale in the market place. Up till now the ultimate success of a company’s global strategy may depend on how well it manages the dangerous human resource â€Å"fit† issue associated with strategic customer cantered decisions and strategies. The literature presents the understanding and resolving interpersonal management issues that result from organization, team, and individual misalignments. An actual merger and acquisition integration project is used to discuss the application of this approach (Thomas L. Legare in his paper â€Å"Understanding and Managing Human Resource Integration Issue†) M A defined by Arnold (2002) as â€Å"combination of two firms of roughly equal size on roughly equal terms and in which the shareholders remain as joint owners† M A activities in late 20th century: In 1960’s Mergers and acquisitions first became an important topic within the organization management meetings. It is usual to consider merger and acquisition in terms of the extent to which the activities of the acquired organization are related to those of the acquirer. The most common classification proposes four main types (Walter 1985; Hovers, 1973; Kitching ,1967). These being: 1- Vertical The process in which two organizations combined within the same industry. 2- Horizontal The process in which two similar organizations combined within the same industry 3- Conglomerate In this process acquired organization is in completely different field of business activity 4 Concentric In this process the acquired organization is in a different but related field in to which the acquiring company merge its business. According to Schweiger and Ivancevice, 1987 mergers and acquisitions can be considered to differ in terms of Motive and transactional type The envisaged degree of integration Common objectives behind M Activity According to Napier (1989), in a review of the literature, draws the distinction between financial or value maximizing motives, and managerial or non value maximizing motives. Mergers known as financial or value maximizing motives when the main objective is to increase the profit and decrease the risk involved in business moreover non value maximizing motives relate to merges which occur primarily for other strategic reasons ( Halpern, 1983). Moreover according to handy (1993) creation of shareholder’s value is the underlying aim behind any MA activity. However , there is a range of strategies involve to improve financial performances and consequently increase shareholder’s value. According to Marks, (1988b). There is lots of risk involved in activity like Mergers and acquisitions involving the collective annual investment of billions of pounds and affecting the working lives of millions of employees. It has been recommended in future that 50 to 80 percent of all mergers are considered to be financially unsuccessful (Marks 1988b), most probably in financial return, represent ‘at best an each way bet’ (Lorenz, 1986) The popularity of Merger and acquisitions is still strong despite of the fact that it has been frequently fail to achieve the financial growth (Hovers 1973 Farrent 1970; Jemison and Sitkin, 1986). Indeed there is lots of evidence that Britain and the USA are currently experiencing an unprecedented wave of merger activity (Morgan, 1988; Hughes, 1989). In the last 10 years , there have been over 23000 registered acquisitions in the USA , and before the end of this decade one in four of the Us workforce will have been affected by merger activity ( Fulmer, 1986) with the approach of 1992 , a similar trend is predicted for Europe. The Merger and acquisition is facilitated by number of factors. Market Conditions Market conditions are changing day by day and in this environment there is a need to consolidate or capture new market so strategic mergers and acquisitions become more attractive and expedient alternative response to the setting up new outlets, and at the same time provide a tool to finish the competition ( Meeks , 1977) Increasing Availability of Capital Mergers and acquisitions activities has been increased because the organization and financial institution may need of capital from outside countries because of low interest rate. More companies for sale. There are lots of companies come in to the market because of number of reasons like successful entrepreneurs of the post war years reach retirement age , because of families issues and there is not natural successor within the family. The Easing of Regulations. According to McManus Hergert, 1988. Gartrell Yantek suggested that acquisition activity is related to political climate in that right of centre administration stimulate activity. The Need to share Risk Mergers and acquisitions is very important if u need to share risk like new product development often results in the formation of joint ventures , mergers and other types of strategic alliance. The existence of complex Indivisible Problems All of these can be considered to be logical economic and marketing factors, which make possible the decisions to acquire, These conditions , particularly the need to share risk and problems solving, have also contributing to the increasing trend towards the formation of joint ventures and Mergers (Harrigan, 1988) (vii) Unrecognized Psychological Motives According to Levinson (1970) suggests one such motive to be fear of risk McManus and Hergest (1988) suggest that the decisions happens when ‘CEO is bored and wants to find a new game to play’ or to create some excitement amongst senior managers (Hunt, 1988) 2.2 Impact of Mergers and Acquisitions Merger and Acquisitions have the prime aim to maximise the firm’s profit and shareholders wealth like any other strategic growth option, but there has been a risk of failure so the debate in the literature among theorists and practitioners as to the real strength of the strategy in creating shareholder’s value worth the risk of failure. The review literature that surrounds different prospects like shareholders, acquirer , targets has been studied on short , medium and long term value creation through the MA activity . The following different categories of studies can be highlighted. Affect of MA Activities on People The Human Side of Mergers and Acquisitions is about to impact that mergers and acquisitions have on people in the workplace: the psychological difficulties that people experience, the culture clashes that can emerge in organizations that can emerge in organizations during the post –merger integration period, and the ways in which these problems can manifest themselves –such as communication breakdowns a â€Å"We-they† mentality between the component organizations in a merger, lowered commitment , drops in productivity , organizational power struggles and office politicking , and loss of key organizational members. We adopt primarily and organization development (OD) perspective on mergers and acquisitions: given the myriad problems (Thomas L Legare) The Existing evidence on the effects of mergers and acquisitions on efficiency or value comes from two basic types of large sample studies: event studies and performance studies Event studies consider the returns to the shareholders of targets and acquirers in the days before and after an acquisition announcement .These studies consistently find that the combined returns to acquirer and target stockholders are unequivocally positive .These positive returns imply that the market anticipates that acquisitions on average will create value. These studies and reactions do not, however, provide insight into the sources of the value changes in mergers or whether the expectations of value changes are ultimately realized. Furthermore, the combined returns cover a broad range of responses from very positive to very negative. Cross sectional analyses of event period returns provide some evidence that the broad range of combined announcement period returns reflects the market’s ability to forecast an acquisitions success. For example both Mitchell and Lehn (1990) and Kaplan and weisbach (1992) find the there is a relation between (1) acquirer and combined returns and (2) the ultimate outcome of the acquisition. Other studies examine a number of different determinants of the cross-sectional variation in returns associated with acquisitions. (see e.g Lang , Stulz, and Walkling 1991 . Maloney , McCormick , and Mitchell 1993; morock, Shliefer , and Vishny 1990)These Cross-Sectional analyses of event –period returns provide some understanding of the nature of the market reaction to acquisition announcements.They do not , however , examine whether the anticipated value creation or improved productivity materializes, Nor do they have a great deal to say about the organizational mechanisms and manage ment practices that drive acquisition success or failure. Studies of post merger performance attempt to measure the longer-term implications of mergers and acquisitions using both accounting and stock return data. Studies of accounting data fail to find consistent evidence of improved performance or productivity gains. (see e.g, Healy , Palepu, and Ruback 1992 and Ravenscraft and Scherer 1987) similarly , studies that focus on acquirers long term stock performance find mixed results abnormally negative stock returns after the acquisition ( agraqwal , Jaffe, and Mandelker 1992), no abnormal returns (franks , Harris , and Titman 1991) and negative abnormal returns only for stock mergers (Mitchell and Stafford 1996) Like the announcement period event studies, longer term performance and event studies document substantial cross sectional variation in performance , but do not study the sources of value changes in mergers and acquisitions. In sum , there are a number of questions that the existing economics and finance literature on mergers and acquisitions leaves unanswered , Existing work provides mixed results on the average impact of mergers and acquisitions More importantly , existing work offers little insight into the determinants of an acquisitions success or failures. Research on the basis of Capital Market Capital market is one of the research category used as central information point. According to Healey (1992), the stock market data reflects the effects of MA as it reflects future profits and dividends expected by the post integration entity moreover these researchers believe that the result has been found swayed by the researcher’s personal orientation an hypothesis. It is been analyse that majority among studies that have been covered lower then desired effects created through analyses based on capital market data. Event Study Methodology According to data et al (1992) have indicated that these studies are based on the hypothesis that markets across the industrialized world are highly well-organized and therefore soon after the MAn announcement moreover it depends on the future financial benefits or losses. The result of such studies have highlighted the majority of MA activities do create affects that can range from significant to normal (Sudarsanam 2003) but the people working along with the field and many other critics have argued that the methodology is only affective for small projects to obtain the desired affects and does not represent long term desired affects in the medium to long term. Short Run Objectives: A large number of organizations plan for financial gains within a short period of time when the merger date is finalized they are looking to achieve this objective, 30% and 10% abnormal returns have been found for the target shareholders Sudarsanam et al (1996) Long Run Objectives According to Agarwar (1992) the organizations long term desired affect through MA activity that has gained an increasing interests among researchers after the data is available for the last wave of MA in the 1990’s. There has been a mixture of results as- 10% abnormal returns over 5 years MA periods; Fama French (1993) showed positive 9% abnormal returns for the acquired and negative -4% abnormal returns for the acquirer; and sudarsanam Mahate 2003 showed a range of negative -18% to positive+1% abnormal returns in MA situation. Although it has been found out that many of these studies have used different models, benchmarks and organizational data, but there is a general consensus that MA abnormal desired affects in the long term. Operational Planning Research: The best way to analyse the affect of MA activity is to study the operational performance of the firms involved. The operational data consists of accounting data like cash flow and profit and loss statement are used by such studies (Healey 1992) Herman and Lowenstein (1988) used these technique on data gathered during 1975 to 1983 and found that no significant improvements in the performance of post MA entities. Healey et al (1992) found a meagre 3% operational performance among companies analyzed. However the same data was later analyzed under improved methods and found no operational performance. The results show large number of failures in creating substantial desired affects through operational analysis. Recent Merger and Acquisitions trends In the above table shows the recent trends in the field, let us being with our full dissertation of the subject of MA. This will be begin with a discussion of the basic terminology used in the field. 2.3 MAJOR STRATEGIC ISSUES: According to Cartwright and Cooper (1995) in order to get the desired objective during the MA activity the internal environment of firms should be synchronized. It can therefore recommend that integration of people, their systems, procedures, practice and organizational culture is extremely important in order to get the desired objective. Mr David (2007) suggest that the internal aspects of firms that are going to merge can be divided into two core competencies that can help to minimize the factors involved the failure of MA strategies. These core competencies lie in the field of corporate strategy which usually lack coordination during MA activities. The main limiting aspects of MA in terms of strategic importance that can play a vital role by using their core competencies have been highlighted as follows Organizational culture The cultural differences is the single largest cause of lack of proposed performance, achieving the desired target and objective and time consuming issues in the running of successful business ( Bijilsma frankema , 2001) according to him culture plays a important part in employees motivation in the development to new business he says that cultural clash is the most dangerous factors when two companies decide to combine moreover the things like styles , values and missions is the part of factor influencing the MA. According to (Covin et al, 1997) the employees required five to seven years after the merger to feel truly incorporated. Due to the multitude of these changes many problems arises like loss of job, also financial debt and fears of jobless.(Mirvis and Marks 1992) moreover he says that after merger the new team is also distressing and anxiety for the people other fear include the loss of effective and close team members, as well as the uncertainty about the new team members and supervisors to be inherited the employees when forced to deal with new team members and managers they may develop fears of taking risks and raising sensitive subject. This may adopt us verses them thinking, where trust for the new team members will be minimal (Mirvis and Marks, 1992).Management facing this kind of behaviour may have to pay the high price of loss of coordination and initiative among the employees of the new business combination. Moreover the issues and disagreement will be more difficult to resolve, so the time after the merger is the most difficult time for the management and new team members to move forward as a whole. Appelbaum etal, (2000) Stress According to (Datta et al , 1992) the process of merger and acquisitions consists of biggest change at the individual and organizational level in the history of organizations because of this the process is stressful. When one culture combines with another the employees feel as through they have lost control over important aspects of their loves, and in an attempt to regain control, they often withdraw. So it creates stress within individual , i.e reduced performance and job satisfaction . ( Berger and Ofec 1996) According to Schweiger Denisi (1991) the employees after the MA go through a time of increased anxiety uncertainty and stress. They are concerned about their new position it will create more stress in them so communication plays the vital role during the merger so that employees know what is going on and how they might be affected during and after the post integration period. Thus it can be suggested that while negotiations have been compared to flirting before marriages , and the closing of the deals to forming a new family , employees reaction can be associated with â€Å"bereavement† (Katinka , 2004) Organizational change and resistance Changes after merger announcement like stress, symptoms, work related factors, health status, and lifestyle. Personal characteristics were composed of age, sex, height, weight, and marital status in both surveys. Moreover stress related symptoms like anxiety, impatience and depression were dichotomized by either having a complaint or not so following a MA , a complex set of organizational , managerial and personal changes or inevitable. Jensen Rubock (1983) claim that in order to cope with the changes and resist with the changes there is a way to select a strategy and a set of specific approaches for implementing an organizational change effort. It is very important for managers to implement changes successfully in order to cope with the changes. The researchers have introduced six different strategies in order resist the changes after the merger and four major reasons why peoples resist changes. Image, Identity and confidence According to (Ravenscraft and Scherer 1988) image , identity and confidence of the human resource may reduced after the combination process it has been send that most of the employees will feel uncertain and will need some relaxation environment . It can be recommended that the peoples effected by this process can prove dangerous for the management they can change the ownership moreover the employees who are affected by the process tend to protect their identity and confidence through tolerance and humble and hence they try to maintain their status and confidence with experience that they are the part of new entity, if the cultural factor is not adequately taken into account at this stage of the merger , there will be so less time to contain it after the merger. Weston et al (2001) discuss the fear and stress associated with a merger. Schwert (1996) argue that when the objectives after the merger are not met , the managing teams of both companies are the employees of the acquired company enter a â€Å"cycle of escalating and distrust†. In other words, managers of the acquiring company press for increased control, while employees of the acquired company resist and demand their autonomy. Others view mergers and acquisitions as power games , which create some excitement fro bored CEOs. Communication Tompkins (1984) defined organizational communication as â€Å"the study of sending and receiving messages that create and maintain a system of deliberately corresponding activities or forces of two or more persons† Organizational communication is the exchange of messages through collective creation maintenance and transformation of organizational meaning. Members develop commonly understood patterns of expectations of organizational action through communication. Moreover communication with the employees is a very important factor throughout the entire MA process and creates a positive effect on employees through the trying time. According to John et al (1999) that communication plays a vital role in the combination of different and various cultures. The cultures can be at conflicting ends and therefore should be understood by the top management during integration period moreover according to Richard et al (1999) the human resource department should plan for the change in organization and they should know before this process that what going to happen with the company when two cultures combine as the result of merger. So in the process of merger only decision is not enough but the proper communication of these decisions among the company is very important moreover management works horizontally and vertically through leadership, control and organization.(Sudarsanam and Mahate, 2003) FLOW OF CASH Despite of the fact that many people loss their job in the process but the same time high rate of voluntary turnover linked with the process moreover it includes substantial outflow of talent and expertise. According to Ravenscraft and scherer, 1988) report executive turnover rates as high as 75% in the first three years of post acquisition period. Unplanned personnel losses are not necessarily confined to the more senior levels of the organization. Typically, acquired or merged organizations experience on overall rate of staff turnover of at lest 30% in the first two years post merger period (Cartwright and Cooper 1995) 2.4 Success and Failures A large number of mergers and acquisitions are unsuccessful .Over the last fifteen years, 23% of all merged firms worldwide reported lower profits than comparable non-merged firms (Gugler et al.(13)) Daimler Chrysler, the effect of the largest industrial merger ever, for example , has only posted low or negative profits since its birth in 1998-including the biggest loss in German business history in 2001. The disappointing results of mergers have been puzzling commentators and academics alike. In the management literature, poor merger performance has often been connected to unsuccessful addition of different corporate cultures. Cultural differences, however, are not enough to explain failures. First, firms seem to be aware of organisational difficulties when taking merger decisions. DaimlerChrysler, for example, anticipated post –merger Challenges. Second, mergers between partners with closer corporate cultures sometimes perform worse ( Morosini et