Internal Fraud Case Study - 642 Words

COVER STORY: INTERNAL FRAUD CASE STUDY Prepare a two-to-three page case study report on the following case: COVER STORY: INTERNAL FRAUD on pages 104-106 in Chapter 4: Billing Schemes of the Fraud Examination text by Wells. Discuss the coincidences involved in this case study. Use the 2009 Global Fraud Survey (also located in Doc Sharing) for references concerning perpetrator, size of fraud, detection, and controls. This case is about the $4 million embezzlement fraud by an employee of a magazine publisher, and how the fraud was discovered. The type of fraud discovered was a billing scheme that was found on accident. A billing scheme is, â€Å"Any scheme in which a person causes his employer to issue a payment by submitting invoices for†¦show more content†¦I think in this case there was a lack of internal controls. In dealing with this type of situation, Miano should have never been able drop off so many invoices at the same time. In doing so, they should have had someone else transporting the approved invoices to the accounts payable department. They should have also mailed the checks out to the clients rather than having someone come collect them. According to the 2010 Global Fraud Studies, â€Å"there was a strong correlation between the perpetrator’s position of authority and the losses caused by fraud.† 3 Managers took 41% of the cases. With coincidence two, McGran e’s secretary noticed that Miano’s behavior became extravagant. From him purchasing $800 in drinks, to having 5 cars, one of which was a Mercedes, to him purchasing a 2nd home for $416,000, and him talking about a new $18,000 boat. I think the secretary should have seen it as a red flag when she noticed Miano’s behavior becoming extravagant and reported it to a higher authority. Managers should take the time to analyze the lifestyles of their employees. Unexpected and unexplained changes in lifestyle may suggest that fraud has taken place. I think the activity and responsibilities of this type of employee should be monitored. With coincidence three, a red flag should have been the fact that Miano hadn’t taken a vacation in 4 years. According to the 2010 Global Fraud Studies, â€Å"frauds committed by higher-level perpetrators also took longer to detect.† 4 TheShow MoreRelatedInternal Fraud Case Study Essay650 Words   |  3 PagesCOVER STORY: INTE RNAL FRAUD CASE STUDY Prepare a two-to-three page case study report on the following case: COVER STORY: INTERNAL FRAUD on pages 104-106 in Chapter 4: Billing Schemes of the Fraud Examination text by Wells. Discuss the coincidences involved in this case study. Use the 2009 Global Fraud Survey (also located in Doc Sharing) for references concerning perpetrator, size of fraud, detection, and controls. This case is about the $4 million embezzlement fraud by an employee of a magazineRead MoreInternal Control and Fraud Detection in the Banking Industry (a Case Study of Guarantee Trust Bank Plc)11154 Words   |  45 PagesINTERNAL CONTROL AND FRAUD DETECTION IN THE BANKING INDUSTRY (A CASE STUDY OF GUARANTEE TRUST BANK PLC) BY OGUNDELE GBONJUBOLA 06271184 BEING A RESEARCH PROJECT SUBMITTED TO THE DEPARTMENT OF ACCOUNTING, FACULTY OF MANAGEMENT SCIENCES, UNIVERSITY OF ABUJA, ABUJA, NIGERIA IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF BACHELOR OF SCIENCE (B.SC) HONOURS DEGREE IN ACCOUNTING JANUARY, 2011 DECLARATION Apart from references of other people’sRead MoreThe Role of Internal Audit in Prevention of Fraud in Nigeria Banks . a Case Study of Equitorial Bank Lagos.9955 Words   |  40 PagesBackground of the Study 2. Statement of Problem 3. Research Objectives 4. Significance of Study 5. Scope and Limitation of the Study CHAPTER TWO: LITERATURE REVIEW 1. Introduction 2. Types of Bank Frauds 3. Causes of Fraud 4. Effects of Fraud on Banks 5. Internal Audit function 6. Fraud and Internal Audit 7. Fraud Prevention 1. General Measures 2. Specific Preventive Measures 8. Elements of Fraud Auditing 9. Measures of Controlling Fraud in Banks 10. StatementRead MoreComparative Analysis Of Fair Value And Historical Cost Accounting On Reported Profit1659 Words   |  7 PagesTitle: Comparative Analysis Of Fair Value And Historical Cost Accounting On Reported Profit: A Study Of Selected Manufacturing Companies In Nigeria. (BESSONG, 2012) Study the importance of historical value and fair value cost accounting on reported profit. The study discussed how fair value accounting and historical cost accounting will have effect on the reported profit. However it is said that key objective of any business is to earn profit and it is also equally important to report the profitRead MoreCase Study 1 Fraud Essay1128 Words   |  5 PagesCase Study1: And the Fraud Continues A business can not work out without an account system, which includes internal. Internal controls are used by companies to make sure financial information is accurate and valid. Strong internal controls are signs of a financially healthy company and protect the company’s integrity. Strong internal controls can also increase a company’s profitability. There are several types of internal controlsRead MoreDonald R. Cressey s Theory Of The Occupational Offender1163 Words   |  5 Pagespoint, they started embezzling from their employer (Wells, 2013, p. 13). Cressey’s hypothesis was that embezzlers or â€Å"trust violators† had three common characteristics (Wells, 2013, p. 13). These three characteristics would later become known as the â€Å"fraud triangle† (Wells, 2013, p. 13). Frist, the trust violator had to have a â€Å"non-shareable financial problem† (Wells, 2013, p. 13). A non-sharable financial problem was a problem that the embezzler, for whatever reason, wouldn’t share with someone elseRead MoreUmmary Of The Issues In The DHB Industries990 Words   |  4 PagesIndustries, Inc. case study.    Background: DHB Industries, Inc. (DHBI) case study concerns an accounting and financial reporting fraud. DHBI made protective body armour for the US military. The former CEO of DHBI, David Brooks (DB), misrepresented DHBIs financial statements, mislead the independent auditors in order to conceal his fraudulent transactions and he misappropriated DHBIs assets and funds for personal expenditures. Main Issues: (1)  Weak corporate governance and lack of internal accountingRead MoreInternal Control Of Nigerian Banking Sector1323 Words   |  6 PagesDISCUSSION This section of this chapter aims to interpret the findings and critically evaluate the study. This research indicates that internal control can prevent and detect fraud in Nigerian banking sectors. The first section of the findings contains the first objectives of this research which is to find out the employee knowledge based on the concept of fraud in banking sector. Therefore, According Biegelman, Martin T, (2013) said The penchant for extortion happens when three basic componentsRead MoreWeek1 Assignment Essay893 Words   |  4 Pagesï » ¿Visit the websites for the Institute of Internal Auditor and the Association of Certified Fraud Examiners: http://www.theiia.org http://www.acfe.com In particular, read the code of ethics for both organizations at: http://www.theiia.org/guidance/additional-resources/ippf-processes/ http://www.acfe.com/about/cfe-rules.asp?copy=ethics 1. How do the codes complement each other? 2. Provide three other notable points of information from each site that either you learned for the first time or have foundRead MoreA Report On Occupational Fraud Essay1433 Words   |  6 Pages B Detection The 2014 ACFE Report on Occupational Fraud expressed that the longer frauds were able to go undetected, the more costly they became. One-quarter of the frauds in the study were detected in the first six months of their occurrence; and for those cases, the median loss was limited to $50,000. This is a more acceptable figure, considering that, the general median loss caused by frauds in the study was $145,000. Hence, we can see that early detection can prove to be less financially

Marketing Objectives Of Cocoa Fruit Marketing Plan Essay

Develop Organisational Marketing Objectives Task 1: 1) Cocoa Delights is a new and innovative company who has worked hard to puncture a hole in the gourmet chocolate industry. They are now selling in retail stores all around Melbourne, but their goal is to expand Australia wide and compete with the sales numbers of the larger international companies in the gourmet chocolate world. I have been analysing the past outcomes and future strategies of Cocoa Delights marketing plan in order to understand their organizational marketing objectives. a) In order to establish a marketing strategy a company must construct a plan which acknowledges their mission, purpose, vision and values. Cocoa Delights is a company with a very specific target consumer of middle to upper class people, who have a love of gourmet chocolate. In order to attract these target consumers their market strategy will need to agree with their needs. The mission of Cocoa Delights is to provide Australians with the highest quality chocolate on the market, while maintaining the promise to trade fairly with overseas suppliers. Their mission ties in well with their values of quality, sustainability, social responsibility (fair trade), customer service and competitive pricing. All of these elements of the company are perfect for attracting their target consumers, but their vision for the company’s future may make it difficult to keep those core values at the forefront. The company’s vision sees it as one ofShow MoreRelatedCocoa Delights Review606 Wo rds   |  3 Pages1. Executive Summary 1.1 Business Introduction Cocoa Delights has been known to be a youngest gourmet chocolate manufacturers in early 21st century. Founded in 2000, cocoa delights has 15 stores chain in Melbourne, Australia in 2015. Product line includes Australian made highest quality chocolates with wide varieties. 1.2 Mission Statement Cocoa Delights is committed to becoming the leader in the Australian market for premium quality chocolate and maintaining a company culture whichRead MoreCocoa Delights Essay5059 Words   |  21 Pagesï » ¿ ‘Get in touch with your dark side’ MEDIA PLAN Period: July 2010–June 2011 10 Chocolate Parade Melbourne, VIC, 3181, Australia Phone: 123-456-7890 Fax: 123-456-7890 Email: mediaplanning@cocoadelights.com Web Site: http://www.cocoadelights.com Contact: Coco Jones Table of Contents Executive summary Business description Founded in 2000, Cocoa Delights is one of the youngest gourmet chocolate manufacturers in the industry. However we do not view our youthRead MoreInternational Marketing Analysis Report For Nestle Essay1636 Words   |  7 PagesThis report is aiming to create an international Marketing Analysis report for Nestlà ©. This report will mainly focus on the evaluation of Nestlà © s international marketing activities and that of their key competitors. The latest trends and developments within this particular sector investigate will also be investigated. Nescafà ©, the instant coffee from Nestlà © is the most famous products of the company, therefore Nescafà © has been chosen as the company s products for the purpose of this report toRead MoreEssay Marketing Research on Whittakers2207 Words   |  9 Pages1. Introduction 1.1 Purpose The purpose of this report is to identify, analyse and evaluate the marketing factors that Whittaker’s has adopted in attempts to position themselves as a top-quality chocolate confectionery brand. In addition, this report would also be an aid to the major assignment in terms of developing detailed plans with marketing factors, data and facts. 1.2 Scope This report will cover the background understanding about the confectionery industry and do an in-depth analysisRead MoreChocolate Industry in India10906 Words   |  44 Pageschocolates, a brief study of chocolate manufacturing process The project also covers a brief study of Cadburys India Limited - the biggest player in the Indian Chocolate Industry with reference to its presence, market share, product offerings, marketing strategies, strengths weaknesses, success factors and Worm Controversy Management. Also, the implication of pricing, distribution strategies and impact of external environment has been recorded. The project throws light on problems and challengesRead MoreMontreaux Chocolate Report2270 Words   |  10 PagesSummary: As of October 2012, Andrea Torres, director of new product development at Montreaux Chocolate USA, needs to recommend whether or not the company should pursue a new product launch in the United States. The new product, a 70% cocoa dark chocolate with fruit product, has been tested because of â€Å"its heightened revenue potential, better alignment with health and wellness initiatives, and strong consumer acceptance of the proposition† (Quelch 7). This memo will address the reasons why AndreaRead MoreCadbury Dairy Milk 4cs 4ps Swot8150 Words   |  33 Pages After 60 years of existence, it today has five company-owned manufacturing facilities at Thane, Induri (Pune) and Malanpur (Gwalior), Bangalore and Baddi (Himachal Pradesh) and 4 sales offices (New Delhi, Mumbai, Kolkota and Chennai). It has its cocoa operations at Cochin. The corporate office is in Mumbai. Product line: Thus we can see the product width and the product lines of Cadbury India. Product depth of Cadbury Dairy Milk will be discussed later. Technology and research (CIL): CIL hasRead MoreChocolate Industry8116 Words   |  33 PagesContents Titles 1. Introduction 2. Objective 3. Research Methodology 4. Chocolate Industry 5. Chocolate in a Bloom 6. Chocolate Industry in India 7. Major Players 8. Amul 9. Nestle 10. Cadbury 11. SWOT analysis of Cadbury 12. Market Segmentation 13. Psychographics and Demographics 14. Product Positioning 15. Product Market Boundary 16. Price Sensitivity 17. Consumer Buying Behaviour 14. Industry Structure and Dynamics 15. The Rural Conundrum 16. Key Success Factors 17. ProductRead MoreFruit Loops2856 Words   |  12 Pagesa variety of bright colors and a blend of artificial fruit flavors.  Kelloggs  introduced Froot Loops in 1963. Originally, there were  red,  orange, andyellow  loops, but  green, then  purple, and, finally,  blue  were added by the 1990s.. Kelloggs  has made many ventures for Froot Loopso, including snack bags called  Snack Ums.  Snack Ums  were just like the cereal, only bigger. Their slogan was Super sized bites with deliciously intense natural fruit flavors Mission statement of kellogg’s : â€Å"KelloggRead MoreHorticulture: Agriculture and Post Harvest Management3265 Words   |  14 PagesDeveloping Horticulture sector in India The horticulture sector encompasses a wide range of crops e.g., fruit crops, vegetable crops, potato and tuber crops, ornamental crops, medicinal and aromatic crops, spices and plantation crops. India, with its wide variability of climate and soil, is highly favourable for growing a large number of horticultural crops. It is the fastest growing sector within agriculture. It contributes in poverty alleviation, nutritional security and have ample scope for farmers

How Is Tension Created And Maintained Between John And Elizabeth, And How Does Their Relationship Change Free Essays

Arthur Miller was born in the year 1915 and grew up during the great depression. His fathers business crashed during the great depression, this meant there was no money for Arthur miller to exploit his great talent that was play writing. Fortunately through earning small amounts from odd jobs he was able to save up enough to go to university where he received several awards for his early plays. We will write a custom essay sample on How Is Tension Created And Maintained Between John And Elizabeth, And How Does Their Relationship Change? or any similar topic only for you Order Now Arthur Miller wrote The Crucible in the year 1952. He used the play as a way of criticizing the government for what is know as McCarthyism. McCarthyism is a communist witch hunt where anybody could be accused of being communist. One of the many people to be accused was Arthur Miller; this is why the main themes of the play are justice and truth. Arthur Miller normally uses society and individuals as main themes for his plays this can also be seen in the crucible. A good example of this is how all the other members of the puritan community look down on John Proctor for not being a regular church-goer. This is relevant today because it could be translated into a suppression of individuality and a pressure for people to fit into society. Another area it explores is the increase of tension and panic in a society. The Crucible is set in a small puritan town where everybody knew each other and it was a very tight community. The despised local preacher called Parris stumbles across several of the village’s girls performing a sinful dance including his own daughter Betty. While the girls are performing the dance with his slave Tituba , Betty falls into an unconscious state causing panic. The girls are accused of witch craft. The girls admit to this but one of the girls called Abigail who had an affair with one of the central characters called John Procter sees a chance to exploit the situation and claims there are more witches in the village. Abigail still has feelings for John claims that his wife Elizabeth is a witch. John goes to court to appeal against this, he also tells the court about the affair he had with Abigail to ruin her credibility. The court gets Elizabeth to come in and confirm John’s confessions but unfortunately she denies it to save his reputation. John is sentenced to be hung; Elizabeth who has survived so far due to her pregnancy tries to convince John to confess to witchcraft; however he chooses to die with his dignity rather then live without it. The Salem witch trails was a real event and John , Abigail , Elizabeth and some other characters were real people however a lot of the story was written by Arthur Miller. The language of the play is accurate because it uses the correct accents and the characters would have been played by English actors because the modern American accent would not have developed yet. To show the fact that the characters live in a very religious community the characters often make references to the Bible this can be seen were Elizabeth describes Abigail’s affect on the court as ‘ Parting the sea of Israel. This shows that the bible was part of their every day life. Before Act two starts the audience is aware of the tension between John and Elizabeth because of John’s affair with Abigail. Despite having an affair with Abigail John still loves his wife and wants to protect her. A good example of this is were Abigail accuses Elizabeth of being sickly and John says ‘ You will say nothing of Elizabeth. ‘ Which show he wants to protect her over Abigail . The tone he uses is angry and full of frustration which shows that he is frustrated and ashamed for having an affair. Read also Intro to Public Relations Notes The setting of the scene makes the audience question Johns commitment to Elizabeth , the scene is set eight days after Abigail told John that her actions are nothing to do with revealing that in fact there are no witches in the village and they where just dancing sinfully. This show that John is withholding information from Elizabeth and the rest of the community and the audience is aware of this. The room that the scene is set in is described as long, dark with a low ceiling which could be a metaphor for John and Elizabeth’s relationship. It is also set in this way to create pressure and claustrophobia in the scene ahead which adds to the tension. In contrast to this Elizabeth can be heard singing to the her children which paints a picture of a loving mother in the audiences minds and can create a sense of empathy with the character. It also gives the impression that John and Elizabeth where once a loving couple. The pattern of speech used by the characters increase the sense of tension because it is in short sharp snippets spoken rushed as if not to offend one another by speaking to long. It is clear that Elizabeth concerned why John is late and she decides to confront him about. She expresses her worry by saying ‘You come so late I thought you’d gone to Salem this afternoon. ‘ John lies and says ‘Why! I have no business in Salem. ‘ Which the audience knows is untrue because he was previously in Salem where he met Abigail, this shows that John feels he has to lie to Elizabeth and that it is easier then telling the truth. John then checks the stew and is displeased with its taste so he proceeds to add more seasoning. When he is served the stew and tasted it he compliments Elizabeth on the seasoning. These shows how troubled their relationship is because John would rather lie about the seasoning of the stew then tell her it was under seasoned. The couple begin to discuss the witch trials and Elizabeth asks John to go to court and explain to the court about Abigail’s trickery. John dismisses this and says things like ‘I’ll think on it. ‘ And the stage actions show him considering where or not to tell the court. Elizabeth thinks he is trying to protect Abigail but really he doesn’t want Elizabeth and himself to be accused of witchcraft. The couple begin to argue and use longer sentences to express their true feelings which break the tension that has been built up through out the scene. In this scene the couple are trying to avoid confrontation or trying to please one another we can see this from the stage directions where it says ‘Holding back a full condemnation of her’ and ‘She doesn’t want friction. ‘ Act three is the most important scene involving John and Elizabeth. John has gone to the court to confess about his affair with Abigail which will discredited her and prove her accusations of witch craft false. To prove Johns confession true Danforth the judge asks Elizabeth to be brought before the court who John claims can never tell a lie. This increase tension because if Elizabeth does lie it will worse because John has put all his trust in Elizabeth’s confession. When Elizabeth goes into the room John and Abigail’s backs are turned, this is so they can’t give hints to Elizabeth but it also is a represent how Elizabeth is feeling about the two. She thinks that John has turned his back on her. The tension is enhanced by Arthur Miller gives stage direction ‘She glances at Proctor for a clue. ‘ and ‘She turns to Abigail. ‘ This shows how Elizabeth is trouble over making the right decision. When she finally answers we can see that she is still trouble at her decision ‘(in agony) No sir’. With this Elizabeth has condemned many people however she has realized that she still loves John and will even lie ,something that goes completely against her beliefs to save his reputation. It also shows that Elizabeth is not perfect and has begun to forgive John. In the next scene John is about to be hung however Elizabeth has a chance to convince him to confess which will save his life but ruin his reputation. This instantly creates tension because it gives Elizabeth a chance to save John. The audience wants to see Elizabeth ask John to lie and confess to witch craft but the tension is prolonged because Elizabeth fails to give John a final answer. She puts the decision in his hands by saying ‘do as you will. ‘ John wants Elizabeth to be part of the decision because he says ‘would you give them such a lie. Showing that John respects her feelings and considers her to be his partner raising the tension even more because of the couples new found care for each other. We finally see her true feelings where she tells him ‘and yet you’ve not confessed till now. That speaks goodness in you. ‘ and if she does not give an answer John will continue to deny the charges building more tension because the audience now fe ars for Johns life. John and Elizabeth’s relationship is still getting better however John still thinks of himself as ‘a fraud’ and a ‘no good man’. Elizabeth doesn’t want John to think this , this is made clear where she says ‘Do as you will, do as you will. ‘ Which shows that she is giving him space so that he can prove to himself that he is a good man. John decides against confessing and by doing so he now feels he is worthy of Elizabeth. Elizabeth finally forgives John telling him her true feelings ‘John I counted myself so poorly made, no honest love could come to me! Suspicion kissed you when I did; I never knew how to say my love. It was a cold house I kept. ‘ This also shows that she has recognised her own failings. Despite the fact that John is going to hang the audience now know they both recognise their love for each over which is signified by Johns kiss ‘he lifts her, and kisses her now with great passion. ‘ Showing they are not afraid to love each other. The play shows us that it is dangerous not to speak your mind and that it can lead to great tragedies. It is also dangerous for society to put someone in a position where they cannot speak their mind. John and Elizabeth realized this and if they had talked about their feelings more then Elizabeth would not have had to of lied. We can also see the parallels the play shares with the McCarthy communist hunt. The death at the end is important because it was preventable the play also shows how lies and deceit can lead to pointless deaths. We can also see the pressure needed for people to talk about there true feelings , only when John was about to hang did the pair express their love for each other and in contrast to this when they where living a comfortable life before the trials they where constantly wanting to please one another and not disrupt their normal everyday existence. How to cite How Is Tension Created And Maintained Between John And Elizabeth, And How Does Their Relationship Change?, Papers

The Crucible Reputation Essay Example For Students

The Crucible Reputation Essay The scene under consideration in Act 2 is characterised by an atmosphere of mounting tension. This is a feature of the play as a whole as we observe the community of Salem being overtaken by collective hysteria in which, ultimately, no one feels safe. History provides many examples of the way in which religious movements and political ideologies can be distorted into forms that represent a contradiction of the teachings expanded and the examples set by their founders. Arthur Miller draws parallels between the Salem witch-hunt and America in the McCarthy era, but, the reigns of terror unleashed by Stalin in the 1930s, by Mao Tse-Tung in the Cultural Revolution and by Robespierre in the French Revolution are other examples. Whenever a single ideology is granted, a pre-eminent position is established in a community at the expense of human rights and democratic freedoms, there is an ever present danger that ignorance, bigotry and fanaticism may overwhelm a community, leading to monstrous injustice which no one feels able to challenge. No one feels able to doubt Abigail because the penalty for such honesty, as Proctor learns in the climax of the play, is death. The scene under consideration is pivotal because by the end of it, the truth of Proctors assertion that the world is gone daft with this nonsense is clear. The fate of all the adults in the community lies in the hands of a group of children led by the duplicitous Abigail Williams. Hale enters at a particularly tense moment: John Proctor and his wife Elizabeth have just been arguing over Johns past adulterous liaison with Abigail Williams, and this is part of the reason for the tense atmosphere between the three of them. The other reason is the fact that Hale is involved in the investigation into the charges of witchcraft, having been called in because of his supposed expertise in the subject-and both John and Elizabeth are aware of this. However, both sides attempt to diffuse the tension in the atmosphere: Hale is said to have a quality of deference, even of guilt, about his manner, and begins by wishing them Good evening, and saying to Elizabeth I hope I do not startle you. The Proctors for their part, make every effort to conceal their emotional turmoil: John, still in his shock, extends a hearty welcome to Hale, attempting to convey the impression that he assumes Hales visit to be no more than a social call. He says, Come in, come in, and later to explain his nervousness, comments that we are not used to visitors after dark, but you are welcome sir. Elizabeth attempts to excuse her startled look on Hales appearance by haltingly explaining its only that I heard no horse, and later sits down at Hales invitation never letting him out of her sight. There is an awkward pause, and then Proctor to break the silence offers Hale a glass of cider. Finally Hale wets his lips and proceeds to explain the purpose of his visit: he has come to discuss with them the fact that Elizabeths name has been mentioned in court. By situating Hales arrival at this high moment of tension between John and Elizabeth and by underlining the bluff heartiness of Johns welcome and Elizabeths startled, uneasy reaction to Hales appearance in this way, Miller has created an atmosphere of tension and suspense. Hale is cast in the role of inquisitor, whose duty it is to uncover heresy and blasphemy in the community. His sincerity is not in doubt, but sincerity alone does not justify or validate someones actions. By portraying the Proctors as trying desperately to conceal their apprehension, Miller presents them as vulnerable. They are not yet under arrest, Hale has come of his own authority, but all that could easily change- and as a result of the tense atmosphere created by Miller, the audience is well aware of this.

Landslides Essays (736 words) - Landslides, , Term Papers

Landslides Causing $1-2 billion in damages and more than 25 deaths per year, landslides are a major geologic hazard, caused by earthquakes and floods. Although, landslides are generally not as exciting or costly as earthquakes, major floods, tropical storms, and other natural disasters, they occur in more expanded places and may cause more property damage than any other geologic hazards. A wide variety of ground movements, such as rock falls, slope failure, and shallow debris flows can classify landslides. When a portion of a hill slope cannot support its own weight a landslide will occur. When rainfall or some other water source increases the water content of the slope the weakness is irritated, reducing the strength of the materials. Although gravity acting upon an increased slope is the main reason for a landslide, there are other elements that contribute to its cause. Loud sounds that occur during an earthquake also cause landslides. Erosion caused by rivers, glaciers, or ocean waves create oversteepened slopes. Heavy rains and melting snow weaken rock and soil slopes. Furthermore, vibrations from machinery, traffic, and even thunder may trigger failure of weak slopes. Excess water can run through slope material and can cause a debris flow or mud flow. The rock and mud left over after a landslide may pick up anything in its path, such as trees, houses, and cars , causing bridges and tributaries to become blocked which causes flooding throughout its path. Even though, the natural cause of most landslides is unable to be stopped, geologic investigations, good engineering practices and effective enforcement of land-use management regulations can cut back landslide danger. Landslides effect every state in the United States territory. The Appalachian Mountains, the Rocky Mountains and the Pacific Coastal Ranges and few parts of Alaska and Hawaii have intense landslide problems. USGS marine scientists have recently identified over fifteen giant landslides surrounding the Hawaiian Islands. These slides are some of the largest known on Earth, and most have taken place throughout the past four million years. The youngest landslide is estimated to have occurred only one hundred thousand years ago, and there is evidence today that large blocks of the island are starting to slide, causing enormous earthquakes. Each landslide that has happened over the bast four million years has ended with huge land loss and gigantic waves that move rocks and s ediments up to 1000ft above sea level. The geologic hazards are important to learn about because, they don't occur as frequently as volcanoes or other disasters, they have potential to destroy lives, property, and natural resources (Giant Landslides). It is possible that any area made up of brittle and cracked materials lying on a steep slope will be subject to landslides. Scientists continue to try their best to lower the risk of landslides everywhere by producing landslide susceptibility maps for areas in the United States. Areas that are generally accessible to landslide hazards include: old landslides, bases of slopes, at the base of minor drainage hollows, at the base or top of an old fill slope or steep cut slope, and developed hillsides where leach field septic systems are used. However, there are areas that are safe from landslide activity: on hard bedrock that has not moved in the past, on flat land away from rapid changes in slope angle, and at the top or along the nose of ridges, set back from the tops of slopes. In order to be prepared for landslides, pay attention to things that might occur before the hazard. These characteristics include wetness of ground that has not been wet before, new cracks or bulges in the ground, sidewalk, or street, cracks in concrete floors and foundations, leaning telephone poles, uneven fence lines, rapid increase of water level in creaks, and movement of soil away from foundations. Incase a landslide does occur, contact local fire, police or public works department, tell affected neighbors, and be sure to evacuate the area. Bibliography: "Giant Landslides Around the Hawaiian Islands". http://walrus.wr.usgs.gov/docs/projects/haland.html maintained by Molly Gowen Groome last modified June 10, 1998, accessed 12/10/98. This page updated: 16 November 1998 For suggestions and comments please send e-mail to: [emailprotected] Page URL: http://landslides.usgs.gov/html_files/nlicsun.html 11/30/1998 The URL of this page is http://landslides.usgs.gov/html_files/nlic/new1ft.shtml Contact: [emailprotected] Updated: Monday November 16 1998 "Landslides." http://germantown.k12.il.us/html/landslides.html

A foreword of a book on mass media laws and regulations The WritePass Journal

A foreword of a book on mass media laws and regulations Chapter 1 A foreword of a book on mass media laws and regulations Chapter 1INTRODUCTION:WHAT IS ELECTRONIC MEDIA?BACKGROUND OF ELECTRONIC MEDIA IN PAKISTAN AND UK:ABSTRACT:AIMS AND OBJECTIVESRESEARCH OVERVIEW:CHAPTER 2LITERATURE REVIEW:ORGANIZATIONAL THEORIES:THE CLASSICAL APPROACH:THE HUMAN RELATION APPROACH:CONTINGENCY THEORY:ROLE OF TRAINING AND DEVELOPMENTINTERNAL TRAINING:EXTERNAL TRAINING:THEORITICAL CONCEPT OF TRAINING:CHAPTER 3RESEARCH METHODOLOGY.PRIMARY RESEARCH:SECONDARY RESEARCH:QUALITATIVE RESEARCH:CHAPTER 4DATA ANALYSIS:COLLECTION AND ANALYSIS:TIME LINE FOR DISSERTATION:CHAPTER 5CONCLUSION:Related Chapter 1 INTRODUCTION: Syed Sajjad Ali Shah, Former Chief Justice of Pakistan said in a foreword of a book on Mass Media Laws and Regulations in Pakistan that: All over the world, the citizens right to acquire knowledge and information is increasingly being proclaimed and recognized as a fundamental right. The international human rights instruments as well as national constitutions and laws, acknowledge and safeguard this right† WHAT IS ELECTRONIC MEDIA? Any channel of communication which serves different functions such as a wide range of entertainment or mass appeal and communicating news and information and advertisement messages through electronic medium is called Electronic media. The duty of media is to communicate massages from advertiser or vendors and serves it as a product or services to the consumer. Types of media include print, electronic, outdoor and direct mail. Print media refers to magazine and news paper where as electronic media are usually referred as broadcast media that are radio and television including cable. BACKGROUND OF ELECTRONIC MEDIA IN PAKISTAN AND UK: In 1964 Television was first introduced in Pakistan. The only channel at that time was Pakistan Television (PTV) that lasts just for few hours everyday from evening till midnight to the viewers. The Channel introduced as a corporation of the state, where the government of Pakistan appointed its board of directors. The managing director was also appointed by the Government of Pakistan but with the approval of the boards. The Early channel includes STN, which was awarded by monopolistic contract with a private company called Network Television Market (NTM). In 1990 PTV was stroked by the financial mismanagement that causes a vast amount of debt and because of Hindi channels the rapidly reducing popularity among the viewers also reduced their advertising revenue. Pakistan Electronic Media is now regulated by Pakistan Electronic Media Regulatory Authority (PEMRA). It was established under PEMRA ordinance of 2002. The same month after establishment PEMRA issued 29 Radio licences for new private radio stations. The duty of this authority is to regulate and facilitate the private electronic media, and to improve the standards of information, education and entertainment and to expand the choice for the people of Pakistan including current affairs, news, religious knowledge, arts and culture and as well as science and technology. Where as in 1932 right before 32 years when television was first launched in Pakistan, BBC launched the first television channel in UK called â€Å"THE BBC TELEVISION SERVICE.†Ã‚   The BBC was sponsored by the public money build up from a TV licence fee collected from all UK households who had a television set. This fee was mandatory for all; failure to pay the fee was punishable by prosecution causing a fine or imprisonment. Until ITV was launched in 1955 BBC television service had a complete monopoly in UK. ABSTRACT: Training and development come under the umbrella of human resource management. This research will help analyse the current frameworks by human resource executives to improve training and development within Pakistan media industry and as well as look at the barriers facing by human resource department over the coming year and techniques for overcoming them. This research is a comparative study of training and development strategies in UK and Pakistan media Industry. With the purpose to look into the topic, I will compare and relate the techniques of UK media Industry with Pakistan media industry as how UK media industry deals with such kind of situations. AIMS AND OBJECTIVES Training and development refers to pass on or to enhance the specific knowledge and skills of an employee. Training and development is essential to advance the current and future performance of the employee by boosting the ability of an employee to perform better through learning and training. Training usually offers to the operatives on the other hand development programmes are for the employees on upper level or positions. The Primary aim of training and development is to help the organisation reach its goal by increasing value to its key resources that is the employee of the organization. By training the employee we can enable them to perform well and to empower them to make the best use of their natural abilities. The Basic aims of training and development are: It develops the ability of the employee and advances their performance. It helps to meet the organization with the future needs of human resource by help the staff to grow within the organization. And it also reduces the learning time for the employees and make sure that they become completely proficient as quickly and economically as possible. It has been seen that most of the researchers mainly focused their investigation on the role and responsibilities, role conflict and role ambiguity and some extent on the training and development programme, but this piece of research reflects the study of how training advance the level of understanding of the employee to their job and also how it helps in their career development. The main objective of the research is to look in to the developments in this important field of human resources particularly in electronic media industry in United Kingdom and Pakistan. Further to this we also look in to the organisations working without training and development department in some organisations. RESEARCH OVERVIEW: The goal of my research is to find out that how training and development can help improve the knowledge and skills of the employee within the organization especially in Pakistan electronic media by comparing it with the UK electronic industry mainly focus on the broadcasting media. The first chapter of my research will help to introduce the analysis of the study and also why it is useful to investigate further into this topic. The aim and objectives of the research study are also included in this chapter. Chapter two highlight the critical review of literature. The literature review will be divided into two major parts (1) Organizational theories (2) Training and Development. Chapter Three will cover up the research methodologies used for the research area. Chapter four will examine the data collection and analyse the types of information of the collected data. The Fifth Chapter will conclude the research and will suggest some advice and emphasize the limitations of the study. CHAPTER 2 LITERATURE REVIEW: A critical and in depth evaluation of a previous research is called Literature Review. It examines a wide range of literature concerned with the employee motivation which has major importance for organizational matters such as Training and development. The themes provided the framework based on: 1. Organisational theory which relates to employee in an organization 2. To designed the development strategies to reward and distinguish the employee input in television channels. We will look in this research how these set of organisational theories and approaches relate to understand the topic of research. ORGANIZATIONAL THEORIES: Dugan the famous Author said in 1985 that â€Å"training and development is alive and well and growing. In fact, it has grown to be a part of a much larger arena.† There are so many approaches to training and development by so many authors my research will mainly focus on the Classical Approach, The human relation approach, and the contingency theory. I will give a brief introduction of all of these theories in my research. THE CLASSICAL APPROACH: The Standard model to the organizational plan and management in the classical approach were based on the assumed basic numbers, which are written below. To be operated and structured there is at least one best approach for all the organizations. Classical approach was based on the legal managerial power and rule of law. We know financial reward is the best way to motivate employee to work and we will also examine what are other ways of motivating employee and get their maximum use. THE HUMAN RELATION APPROACH: The Third step in the development of modern management was the advancement in the attention to the human factors which has become known as the â€Å"Human Relation School of management.† It was introduced in 1930s as a response to the negative view of human nature suggested by the classical approach and against the mechanistic view of organization. Human Relation approach talks about the emotional behaviour of the people that people are more emotional rather than economical rational beings, where as organizations are cooperative social systems rather than mechanical ones; and also that organizations are composed of informal structure, and rules as well as formal procedures and practices. CONTINGENCY THEORY: This theory was first come in to view in the 1960s as a rejection of the â€Å"One best way† approach. There are many types of the contingency theory. It is a set of behavioural theory that argues that there is no one best way of organising or leading and the leadership approach to one situation is not necessarily suitable to others. The Four most important suggestions of Contingency theory are:    There is no one best way to manage the organization.   Ã‚   The plan and aim of the organization should be according to the environment.   Ã‚   Effective organizations not only plan according to the environment but also fit between its subsystems.   Ã‚   The organization should be properly designed and the management style should be suitable both to the tasks and the nature of the work group if the organization wants to satisfy its needs and requirements. ROLE OF TRAINING AND DEVELOPMENT According to Casse and Banahan (2007), â€Å"the different approaches to training and development need to be explored.† Training in an organization is mainly consisting of two parts: 1- Internal Training 2- External Training INTERNAL TRAINING: Internal training means a training session organised within the house by human resource department or giving training to a particular department by a senior staff or talented employee as a resource person. EXTERNAL TRAINING: The training which is arranged outside the organization by training institutes and consultants are called external training. Both the trainings are very essential as it helps preparing staff for greater challenges. THEORITICAL CONCEPT OF TRAINING: When the planning of a learning programme become a major concern, the theoretical concept of training becomes more significant. It helps determining the area where there is a space for further improvement and the training is required to achieve the goal. For any organization it is important to design the objectives and framework of training to achieve its corporate goal. There are countless theoretical concepts I will include few of them in my dissertation to make it clear to understand the objective of my research. I will try to briefly explain those concepts in my research proposal. Systematic training cycle is a stage based activity which begins with Training Needs Analysis (TNA) Jill Bowman John P. Wilson, (2008) Jill Bowman John P. Wilson, (2008) point out two definitions regarding (TNA)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   â€Å"Analysing training needs provides a focus and direction for the investment an organization has to make in its people†.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Need for training exists in organizations when particular weaknesses need to me overcome by the application of systematic training. Therefore, before commencement of actual training session, it is very important to identify the training needs first. Jill Bowman John P. Wilson, (2008) The systematic training cycle has three stages. 1- Training Design 2- Training Delivery 3- Evaluation Any training programme in an organization has to be designed first once it is designed it needs to be implemented. Implementation is overwhelmed with certain problems such as managers at the first place are more action oriented but suddenly they get busy to engage in the training efforts. Secondly availability of the trainer who also knows the philosophy and objective of the company is difficult. And also scheduling the training programme around the present work is another problem. The final stage of the training and development programme is the evaluation of the programme. Evaluation of the programme helps determine the result. These set of classic theories and approaches will make the research topic more clearly for readers and how these relate to each other in media industry. CHAPTER 3 RESEARCH METHODOLOGY. The core task for any researcher to complete its research is to analyze the problem and to select that which research methodology to follow. It is a challenging endeavour and causes difficulties if the most suitable methodology is not selected. TYPES OF RESEARCH: 1- Primary Research 2- Secondary Research 3- Qualitative Research 4- Quantitative Research PRIMARY RESEARCH: In Primary research a researcher collects the data which doesn’t really exist. It can be done through surveys, questionnaire, interviews and observations. SECONDARY RESEARCH: Secondary research is to examining the existing data, it may be the mixture of information acquire by different authors and scholars and a summary or collation. QUALITATIVE RESEARCH: Qualitative research tries to find out the â€Å"WHY† not â€Å"HOW†. It is about investigating the issues, answering the questions and understanding phenomena. The main methods uses in this research are observation, interviews and documentary analysis. It seeks to explore people’s attitudes, behaviours, value system, and lifestyles. It also focuses groups, in depth interviews like many other approaches but qualitative research also involves the analysis of any unstructured material including customer’s feedback forms, reports or media clips. QUANTITATIVE RESEARCH: Quantitative research technique enumerates the data by applying different mathematical and statistical methods. Quantitative research includes surveys and customers questionnaires. It is about knowing the opinion of the people in a way so you can produce an appropriate fact and statistic to guide you in making decision for future. You can only get the reliable statistical result by surveying people in a fairly large numbers and also ensure they are representative sample of your target market. CHAPTER 4 DATA ANALYSIS: At first the data may appear to be a mass of confusing, unrelated, accounts.   But by Studying and coding (often I code the same materials several times just after Collecting them), the researcher begins to create order (Charmaz, 1983: 114) In Data Analysis researcher gathers a raw data and organize it so that useful information can be extracted from it. Raw data can be in variety of types including measurements, surveys, and observations. In data analysis process, the raw data organised in a way which will be useful. For Example, The result of surveys may b tallied so that we can see that how many people answer to the surveys and how they response to the questions. Data Analysis is an important step of the research process. The aim of data analysis is to define the qualitative and quantitative data that provides learner to develop knowledge and skills in data analysis. It also supports the development of critical appraisal skills by considering the critical review. COLLECTION AND ANALYSIS: In this stage I will try to analyze the primary data which I will collect from different television channels. I will try to collect data from BBC and Pakistan television channels including GEO TV Network, Express News and AAJ TV. I will also do the surveys and make the questionnaire for the employee working in electronic media industry and also a separate interview questions for HR experts associated with the industry. I will also analyze the data and the information collected through surveys by focusing on the objective of my research and will try to analyse them in a very systematic way, it is very important as it will help me to draw a valid conclusion and clarify the aim and objectives of my research. TIME LINE FOR DISSERTATION: A dissertation is an extensive piece of academic writing. The timeline make sure that every step is completed at a given time. For successful achievement of a dissertation there has to be a time line. Month 1  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Month 2  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Month 3 TASKS Preliminary Research Define research questions/objectives Work on methodology and finish rough drafts of methodology Library Work Preparing Questionnaires, and survey questions Refine Dissertation Methodology Write literature review Write Introduction Research paper writing References and Bibliography Polish format of research proposal CHAPTER 5 CONCLUSION: This research adds value in quite a lot of ways; firstly it contributes a better understanding on some vital attributes of Training and Development specifically in Pakistan and UK electronic media Industry. Secondly it provides insight the attitude and behaviour of an employee in the organization and why they need training. The aim of this study is to investigate the role of training in the efficiency of an employee, in how the training gives confidence to perform there desire task in their routine work.

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Emerging New Luxury Brands Marketing Essay Let us imagine that we have gone back a decade in time. There is a woman in some part of the world flipping through the pages of a high-fashion magazine. The minute she opens the magazine she is bombarded by images of luxury goods. Luxury brand names like Versace, Chanel, Gucci and Christian Louboutin shout out to her. All she desires is to own at least one piece from these luxury fashion goods. Unfortunately, the woman earns a middling income and can only dream about owning a Versace dress or a pair of Christian Louboutin shoes. Luckily for her, in 2004 Hennes Mauritz (HM) came up with a brilliant collaboration which made all her dreams come true. For a long time access to luxury fashion goods had been limited to the elite classes. Since the 1990s there has been a boom in the luxury market because as times progressed traditional luxury brands such as Christian Dior started facing competition from emerging new luxury brands like Jimmy Choo. 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As HM are the contemporary of this trend in the fashion industry, the issues discussed in this dissertation will be mainly based on them. 1.1 Company Profile Company name H M Hennes and Mauritz AB Industry Retailing Sub Industry Fashion (clothing, accessories) Headquarters Stockholm, Sweden Employees 94,000 Key People Founder: Erling Persson Chairman: Stefan Persson CEO/Managing Director: Karl-Johan Perrson Table : Company Profile of Hennes Mauritz (HM, 2012a)H M Hennes and Mauritz AB is a Swedish retail company, functioning in the clothing industry. The company is known for designing fast fashion i.e. chic styles at cheap prices. The first store was opened in Sweden in 1947 under the name Hennes, selling only womens clothing. In 1968 the company bought Mauritz Widsforss, a hunting and fishing equipments store, changing the company name to Hennes Mauritz. This was also the year the company started selling mens and childrens clothing. Today, HM have branched out into five independent brands which are globally recognised HM, COS, Monki, Weekday and Cheap Monday. Besides clothing, today the company also offers footwear, accessories, cosmetics and furniture. As of 2012, the company operates around 2600 stores across 44 countries. HMs top two competitors are Spanish fashion group Inditex (who own Zara and Bershka) and American retail giant The Gap, Inc. From 2004 HM started collaborating with some of the biggest names in the luxury fashion industry, a tradition they have since followed every year. Besides HMs annual collaboration with some of the biggest luxury fashion houses, the company also has a long-standing tradition of getting together with super models and popular music artists to either design or be the faces of their seasonal collections and campaigns. 1.2 Problem Definition and Purpose Co-branding is a relatively new concept in the field of marketing. The concept has been in practice for only the past few decades and the collaborations have often yielded mixed results. Co-branding has taken place in all sectors and industries from tobacco to automobile to retail to film-making to consumer goods. Co-branding is a moderately new term in the business vocabulary which is used to describe integrated marketing activities involving two or more brands (Blackett, Boad, 1999). It is important to analyse and understand the practice of co-branding as it has been gaining recognition in the recent years and can have a considerable impact on the future of branding. More and more consumer product manufacturers are becoming interested in co-branding strategies as it is a means to gain more exposure in the marketplace, fight competition and threats innovatively and at the same time share expensive promotional costs with a partner (Spethmann, Benezra, 1994). Co-branding gives compani es a great opportunity to create something new, while sharing costs, and also provides them with an opportunity to present consumers with a market they may have not explored before. Besides undergoing classical brand extensions and other brand alliance strategies (like advertising alliances and dual branding), co-branding is a strategy which presents a brand an added method to differentiate themselves in a competitive environment (Helmig et al., 2008). While co-branding in other sectors has returned mediocre results, co-branding in fashion has generally been extremely well appreciated. American discount retailer, Target, has often collaborated with designers such as Jason Wu, Issac Mizrahi and Neiman Markus, offering their designs for a slightly higher price than Targets usual rate. These attempts have been very well received by the mass consumers. HM, especially, have a high success rate when it comes to this business practice. More than 1000 people entered New Yorks Fifth Avenue store in the first hour when Karl Lagerfeld, Chanels haute couture and ready-to-wear chief designer, created pieces for HM (de Chernatony et al., 2011). Another example would be the success of HM and American designer Stella McCartney coming together. Queues were reported outside several HM stores all across the world, forming from the night before the collection was launched (Okonkwo, 2007). However, as successful as HMs attempts at co-branding have been, this practice of luxury brands and high-street brands coming together has lead to a lot of debate and even criticism. According to the critiques, co-branding often hampers with the companys original brand equity and confuses the consumer. Although the names of the brands that come together are familiar to the consumer, the actual co-branded product is completely new. Thus, unable to make out what to think of the new product, the consumer makes a judgement based on the known brand names involved (Washburn et al., 2000). There have also been questions raised regarding the effect of co-branding on the image of one or both of the parent brands. Some critiques believe that co-branding hampers the reputation of highly ranked brands. There have been sufficient works as well as research conducted on co-branding which are available to us. Considerable research has been conducted on co-branding in the retail sector. However, there has not been much detailed research on co-branding specifically between high-street fashion brands and luxury fashion brands. There are questions still left unanswered in this particular area. Therefore, this dissertation aims to investigate and study the practice of co-branding in this particular field and hopes to give a better understanding of this phenomenon. 1.3 Research Objectives Taking into account the purpose of this dissertation, the main research objective that this study will try to answer is: Exploring and understanding co-branding between high-street and luxury fashion brands. In order to help present relevant answers for this dissertation, the main research objective can be further divided into the following sub-objectives: To understand why co-branding occurs between high-street fashion brands and luxury fashion brands To analyse the perception of consumers regarding co-branding in the fashion industry To analyse the effect of such a collaboration on the brand image and reputation of both parties involved To understand whether co-branding between a high-street and a luxury brand can yield successful results 1.4 Relevance of the Research The following section provides a justification about the relevancy of this study. Arguments for both, academic and practical, relevance are discussed. 1.4.1 Academic Relevance This dissertation surely has academic relevance in todays time. In order to study co-branding in the fashion industry, this study has merged various branches of marketing. Brand alliances, brand equity, brand leverage and consumer behaviour are combined and discussed together to help understand the phenomenon of co-branding. Although there is significant work already done on co-branding, only a few discuss the area in which co-branding has gained the most success fashion. Thus, this dissertation tries to give a clear and more detailed explanation of why and how co-branding in fashion occurs and the effects it has on the consumer. 1.4.2 Practical Relevance The practical relevance of this dissertation is also of significance. Co-branding is being frequently used as a strategy to stand out in a crowded market place (Dieleman, 2010). By understanding the science of co-branding, not just for general understanding, but especially for the fashion industry, more retail clothing brands can partake in it. By studying consumers perception towards the collaboration of high-street and luxury fashion brands, managers can decide on whether or not creating a co-branding strategy is the right approach for them. Managers can also have a better appreciation of the effects of co-branding on their brand equity and brand reputation. 1.5 Limitations As mentioned in the company profile, HM have also collaborated with popular music artists like Madonna and Kylie Minogue to conceptualise and be the faces of limited edition lines and collections. Also, the fast-fashion company has collaborated with Finnish textile company, Marimekko, in the past to use their fabric designs on their products (Wettergren, 2010). These celebrities and companies are also brands in their own; however, this dissertation will not be discussing them. Only HMs collaborations with luxury fashion brands will be taken into account. Thus, this dissertation only examines the relationship of a high-street and luxury brand, and not between other categories of brands. This dissertation does not discuss the process of co-branding between HM and the luxury brands, but the motive and effects of the collaborations. The questions this dissertation tries to answer are why co-branding occurs and what are the possible outcomes of it. How co-branding occurs is a question this study does not venture into. Also, this dissertation does not go too deeply into the marketing activities of the co-branded products and retail collections. Thus, answers to these questions will not be available in this study. 1.6 Structure The following section of this dissertation talks about existing concepts, theories and research conducted that led to the formation of this studys research question. The section is a review of existing literature as well as a presentation of the theoretical framework. Concepts such as brand management, co-branding, fashion marketing, co-branding strategies, fashion strategies and so on will be discussed. The third chapter talks about the methodology selected to conduct this research. The chapter talks about the justification of choosing the research method as well as the possible limitations of the same. Chapter four represents the findings of this research as well as gives a discussion for each of the findings. This chapter evaluates the relevant research findings for each of the research sub-objectives. The final chapter of this dissertation presents a general discussion of the entire study, highlighting the key areas and important research findings. At the end of the dissertation is a list of references; sources which helped with the research of this study as well as sources one can look into for the purpose of further reading. 2. Literature Review 2.1 The Concept of Branding Branding building is an important concept in the science of marketing and several definitions of this concept exist. The official definition of branding given to us by the American Marketing Association is that a brand is a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors. This means that even though a product or service may satisfy the same need as another, a brand provides it with an element which differentiates it from other products or services of the same kind (Kotler, Keller, 2011). The process of brand building is imperative for almost all companies, products and services because building successful brands promises future income stream and profit. Brands help build consumer loyalty which means that consumers will keep coming back to buy the brands and will support them even during crisis situations (de Chernatony et al., 2011). However, the profile of the consumer is changing from what it used to be. The market place is getting more and more crowded with the constant addition of new products and services. Not only does this mean that there is a lot of fierce competition, but also todays consumer has a lot more choice than from a decade ago. Thus, it is extremely necessary to make ones brand stand out. This is where the concept of brand management comes in. Appropriate and effective practise of brand management can lend a hand in leveraging a brand, which leads to the making of a successful brand. The concept of brand management was created by Procter Gambles Neil McElroy (Harvard Business School, 2000). Effective brand management can lead to high brand equity. Brand equity is the additional value which products and services are seen to have, besides the functional value that they possess. This value is measured on the basis of what consumers feel and think about the brand as well as the market share and pr ofitability that the brand enjoys (Keller, 2008; Aaker and Joachimsthaler, 2000; Aaker, 1996; Aaker, 1991). Proper practice of brand management can also do wonders for the brand image. Brand image is impression of the brands personality (real or imaginary) that has been developed in the consumers mind (Business Dictionary). Various techniques can be applied under brand management in order to leverage a brand. One of these techniques is brand extension. Brand extension is a marketing strategy wherein a company uses a brand name which already exists in order to penetrate into a new, different product category than which it is established in (Swaminathan, 2003). A somewhat new development has been formed from brand extension in recent decades which is known as the process of co-branding. 2.2 Co-Branding Co-branding is a brand leveraging technique where two or more brands, each having significant recognition in the eyes of the consumer, co-operatively come together to create a single unique product while retaining the names of all the brands involved (Blackett and Russell, 1999; Leuthesser et al., 2003). This term is also referred to as brand alliance and composite branding. Co-branding provides marketers with the choice of opting for a short-term alliance, thus making it an attractive opportunity. It is not necessary for co-branding to be a long-term affair, as along other benefits, marketers are mainly looking for a quick sales boost (Spethmann and Benezra, 1994) As discussed by Nunes et al. (2003), co-branding can be divided into four different types. They are as following: Promotional/sponsorship co-branding Here a company co-brands by being a part of an events activities so as to link its image to that particular event in the mind of the consumer. Example: Conseco the official financial services provider of NASCAR Ingredient co-branding In this type there is a primary brand, which acts as an important component of the secondary brand. Example: Sony Vaio laptop with an Intel microprocessor Value chain co-branding Here two or more companies come together in order to create a brand new experience for the consumer to increase differentiation. It can be further divided into three types: Product-service co-branding Yahoo! and SBC Communications coming together to form SBC Global Networks Supplier retailer co-branding Architect Michael Grave creating a line of co-branded products specially for American retailer, Target Alliance co-branding Airline alliances such as Star Alliance and SkyTeam Innovation based co-branding In this type two or more companies come together in order to present a brand new product or offering, to increase customer value as well as corporate value. Example: Boating shoe manufacturer Sperry Top-Sider collaborating with New Balance to create an athletic boat shoe It is a known fact that brands play an important role in influencing culture in consumer societies. They not only satisfy ones utilitarian needs, but also serve some hedonic purpose. It is not in the power of the marketer to create the hedonic value that the brands hold. It is only the consumer who is in control of the feelings and meanings associated with a particular brand. Thus, it is safe to say that a part of the brands equity is in hands of the consumers. Thus, the reason marketers decide on a co-branding strategy is to not only access the utilitarian benefit which a certain brand offers, but also to generate the hedonic value which the association with that brand would bring. There is a transfer of status, imagery and reputation of one brand to the other. Co-branding also reduces costs, as the RD, production and marketing expenses get shared between the parent brands. Thus, co-branding is a quick way of improving all the aspects of marketing related issues (Askegaard and Bengt sson, 2005; Nunes et al., 2003). There are also risks and disadvantages to co-branding. There is the risk of dilution, where a brand loses meaning for a consumer because of the co-branded product. There is a chance of a co-branding strategy resulting in a potential competitor. This happened when IMB partnered with Microsoft to develop DOS. Microsoft then had very low brand equity, but today they are a giant in the computer world. There is also the risk of devaluation. When aligning with a low valued brand, a high value brand may lose its reputation in front of the consumers. Co-branding may also limit a brands market reach as they might be targeting the same consumer group with the new product as well (Nunes et al., 2003; Leuthesser et al., 2003). Many theories and research have been conducted on brand alliances and their possible spillover effects. One of the first ones was by Simonin and Ruth (1998). A study was conducted by them to evaluate the change in the attitude of consumers due to the spillover effects of co-branding. The results of that study have matched the results of many other newer studies conducted on brand alliances. Baumgarth (2004) created a brand alliance study, based on Simonin and Ruths study. The results of the study matched with the hypotheses presented by Simonin and Ruth. Baumgarths model added improvements by giving importance not only to the brand fit, but also to the prior attitudes consumers have towards the brands. In a study conducted by James et al. (2006), it was found that the personalities of the two brands involved have an impact on the perception of the consumers towards the co-branded product. Bouten et al. (2011) too conducted a study, basing it on the Simonin and Ruth paper. The result of their study was that a perfect fit of both, the brand image as well as the existing products of the parent brands is required for a successful brand alliance. As brand alliances started getting popular, researchers started concentrating on the term co-branding. Abratt and Motlana (2002) devised a five-step brand transition process for companies who wanted to undertake co-branding. The process stresses on the importance of understanding consumer perception as well as the fit of the brands involved. The same result was seen in the strategic framework for co-branding created by Leuthessar et al. (2003) which would help marketers assess co-branding opportunities in order to leverage their brands. On the basis of this framework, possible co-branding can be assessed by the nature of the parent brands as well as their target audiences. Co-branding was slowly starting to be seen as an important marketing strategy. As a result of this, an ontology based co-branding strategy system, called OnCob, was created by Chang (2008). This system helps marketers and brand managers research the co-branding phenomenon based on the concepts of aim, category and effect. Co-branding was further researched by Chang (2009) to present a roadmap and guide for companies wanting to co-brand. Different industries were discussed wherein some results were successful, while some were a complete failure. Also, a co-branding matrix was presented, which gives researchers a better understanding of this emerging science. The effects of co-branding on brand equity were studied by Washburn et al. (2000). The research results showed that co-branding is a win-win situation for both the brands involved, irrespective of their perceived brand value. When a high equity brand is paired with another high equity brand, the final co-branded product is perceived to have high value as well. Also, Washburn et al. found that in the case of a low equity-high equity brand pairing, it is the brand with a lower value that benefits the most from the co-branding, and although the positive effects might be less for the higher valued brand, co-branding does not have any negative effects on it. Motion et al. (2003) conducted a research on corporate co-branding and its effect on corporate brand equity. The research was conducted by studying the sponsorship of rugby team, All Blacks, by Adidas. The result of the study was that co-branding has a positive effect on the corporate brand equity, however as concluded by other studie s, it is important that the parent brands have a common vision and similar brand values. Besharat (2010) undertook a study combining the strategies of co-branding and brand extension. A comparison between co-branding and brand extensions with respect to brand equity was carried out. The final result of the study matched the results of many previous studies i.e. the success of a co-branding strategy depends on the existing brand value of the parent brands. However, there was no significant difference between consumer perception of co-branded products or brand extensions. As long as the consumers saw a fit between the new products and the brand, they accept the new product positively. A research was conducted by Thompson and Strutton (2012) to find out the effects of co-branding when one of the parent brand co-brands into a product category where it does not exist. However, the analysis showed that such an alliance is not likely to be successful. For a co-branding strategy to be successful, it is important for consumers to perceive a high level of fit between the brands involved. Another finding is that if a low value brand collaborates with a brand that is perceived highly in the eyes of the consumers, the co-branded product is likely to be viewed favourably. Thus, the brand fit plays an extremely important role in the success or failure of co-branding strategies. Erevelles et al. (2008) conducted a study on ingredient co-branding in the B2B sector, an area which does not have much research done. The finding of the research is that ingredient co-branding occurs in B2B sector usually when there is a threat of entry from a more fiscally rich competitor. Thus, brands get into an ingredient co-branding strategy to block out this competition. Besides this, the secondary brand also has monetary benefits as the ingredient supplier provides their component at a reduced cost. Askegaard and Bengtsson (2005) proposed the importance of cultural meaning in co-branding. Compared to the conventional approach to co-branding, their paper provides us with a new perspective. They suggested that each brand characterises certain symbolic and cultural meanings to the consumers, ones that may not be visible to us directly. The cultural meanings of the parent brands have a heavy influence on the meaning that the co-branded product represents. However, the interpretations provided by Askegaard and Bengtsson are far too imaginative and descriptive. No matter how creatively brand managers develop cultural meaning for a co-branded product, at the end it is only the consumer whose interpretation of brand image and meaning count. 2.3 Fashion 2.3.1 Luxury Fashion Luxury brands consist of those products and services which are generally associated with the affluent and the elite class. The luxury fashion industry is a global multi-billion dollar sector. Hundreds of brands are a part of this industry, some of them being Louis Vuitton, Chanel and Prada. Besides being valuable, luxury brands are some of the most influential in the world. For luxury goods, branding plays an extremely important role and is the core competence. This sector places high importance on branding and marketing strategy development by the use of human emotions and psychology (Okonkwo, 2007) Tynan et al. (2010) sought out to address the nature of the value of luxury brands and how value can be co-created. Instead of taking the more common managerial perspective, they took into account the perspective of the consumer. They developed a theoretical framework and researched case studies to find out what types of value consumers look for in luxury branded goods. The result was that although a utilitarian value was a must for all luxury goods, it was the hedonistic or symbolic value which acted as drivers for the purchase of a luxury good and was seen as the differentiating factor by the consumers. Reddy et al. (2009) studied the prospect of brand extensions for a luxury brand. In order to do so, they fashioned a Premium Adgency Grid, which measured the extent to which a particular brand extension matches up to the values embodied by the core brand. The luxury brands were divided into the four quadrants of the grid Star Brand, Aspiring Star Brand, Waning Star and Dying Star. With the help of this grid, marketers could measure their luxury brands brand adgency and then consider expansion opportunities and the possible risks. A framework was created by Moore and Fionda (2009) illustrating the various dimensions of the luxury brand to guide its marketing in the fashion sector. Their model identified nine key components which were deemed important for the creation of a luxury brand. Each of the nine components included sub-categories, which according to them, must be consistent for the successful creation of the brand. All of these components must be managed simultaneously for the creation and maintenance of a successful luxury fashion brand position. Thus, the Moore and Fionda model states that the management of a luxury brand should be consistent and coherent. However, the case companies in this research were all British and thus, the results are geographically and culturally narrow. A cross-cultural investigation would have provided a firmer insight in the marketing of luxury fashion brands. A five-factor model and brand luxury scale was designed by Vigneron and Johnson (2004) to provide luxury product marketers with an instrument to measure the amount of luxury a certain brand contains. According to Vigneron and Johnson, luxury is contained in brands in a matter of degree. Some brands have a very high level of luxury, while some very low. The brand-luxury scale helps measure the level on luxury in a given brand. The research found that luxury is a multidimensional factor and this can be proved by the five-factor model. These dimensions can be established and monitored by using the brand luxury scale in order to create a lasting luxury brand. However, Miller and Mills (2012) argue that more than anything else, it is the perception of brand leadership that counts. In order to attain clarity on the subject of luxury brand marketing, they developed a conceptual model the Brand Luxury Model (BML). This findings of this model state that trendy, up-to-date and visionary brand s and perceived to be more luxurious than brands that try to be unique, imaginative or original. The BML also showed that consumers perceive a match between themselves and the image of the luxury brand users with psychological or symbolic value. This finding is in sync with the research carried out by Liu et al. (2012) Liu et al. (2012) explored the effect that the various concepts of self-congruity theory have on the consumer. Self congruity theory was developed by Sirgy (1986), which refers to the likeliness of a potential consumer to psychologically compare themselves with other objects and stimuli (brands in this case). This theory has been widely used to understand brand purchase behaviour (Sirgy, 1986). The three concepts studied by Liu et al. are Brand Personality Congruity, Brand User Imagery Congruity and Brand Usage Imagery Congruity. The relationship of these three types of self-congruity to the customer attitude and loyalty toward a luxury brand are studied in this paper. The study focuses on two brands CK and Chanel to understand the effect of a potential consumers self congruity in the purchasing of luxury brands. The study found that Brand User Imagery Congruity and Brand Usage Imagery Congruity are much stronger predictors of attitude and loyalty than Brand Personality Congruity i n either of the brands. It was found that the consumers own self-image and perception of a typical users image as well as usage imagery play an important role in a consumers purchase intention and attitude towards a brand. The findings of this study were similar to the previous claims made by Sirgy et al. (1997), Liu et al. (2008) and Sotiropoulos (2003). 2.3.2 High-Street Fashion High-street fashion describes the clothing retailers who cater to the mass-market. These retailers design and sell clothes which are affordable and are used for mass-consumption. The brands either have independent stores, franchises or are a part of chain stores. As the high-street fashion market started getting crowded with the introduction of more and more brands, competition started running high. In order to combat this competition, many of the high-street brands started the concept of fast-fashion. These are brands like Zara, HM and Mango who create affordable, trendy and disposable items to cater to the consumers demands. Fast-fashion gives brands a competitive edge as they turn the latest runway designs to chic disposable clothes that the mass-market can afford (Tungate, 2008; Hines and Bruce; 2001). Following the success of fast fashion, Cachon and Swinney (2

Amish Business Relations Essay -- GCSE Business Marketing Coursework

Amish Business Relations The Amish are a group of people that teach separation from the outside world. A group that originated from Switzerland is centered in the United States and Canada. Their rules as a society require farming and personal simplicity as their way of life. the luxury of having electricity and telephones are not accepted in this odd way of life. Their transportation is reduced to horse and carriages as a way for them to remain simple. These old order Amish traditions are very strictly enforced. Those who break from the Amish usually join the Mennonites, a society with similar rules and values, just less strict. As a way for their society to survive as a culture they have turned to the business of selling the products that these people grow and make. The Amish are fine craftsmen, skilled in everything from building the barns to sewing some of the finest quilts around. In recent years, many Amish have opened small shops to help supplement their modest earnings from farming. Skills handed down from generation to generation have resulted in the best quality products, a proud Amish tradition. Of course, the Amish did not choose this newly found way of life, they were forced in by greater urbanization and the diminished availability and affordability of farmland. They would rather stay and go into small business than move to a more rural state. One of the most known societies is in the town of Lancaster County, Pennsylvania. There is an estimated 1,000...