Sweatshop Labor Essay Example | Topics and Well Written Essays - 750 words - 1

Sweatshop Labor - Essay Example This would maintain high-profit margin even in low demand market conditions. In terms of history, Sweatshop developed during the industrial revolution to refer to a sub-contracting system that provided an environment for high profits among the intermediaries because of low labor costs as compared to the amount paid for the contract (Powell, 2014). The profit margin reflected the â€Å"sweat† of the workers as they received low wages compared to the working conditions and the amount of work they undertook. The clothing industry involves a subcontracting system that allows retailers to dominate the top of the chain of subcontracting. The apparel companies order sets of clothing from manufacturers, who are the designers of the clothes, and the manufacturers employ contractors. In some cases, the contractors hire subcontractors. The garment workers are then hired and paid by either the contractors of the subcontractors to perform the basic tasks of cloth making such as sewing, cutting or packaging different clothing (Powell, 2014). As such, the garment wo rkers remain at the bottom of the subcontracting chain as much as they are the center of cloth making. Low consumer demand leads to increased competition in the marketplace; an aspect that place the contractors in a critical position where they receive low price offers from the manufacturers and are left with no choice other than take the contracts due to high competition (Powell, 2014). In most cases, the prices offered in the contracts are too low that most of the contractors are not able to offer their employees the legal wages they deserve or create safe working places according to the law. As such, due to the structure of the industry, most of the contractors experience â€Å"sweating† of profits from their employees as the only alternative that would ensure sustainability of their business. In

B202 Accounting & Finance Essay Example | Topics and Well Written Essays - 2000 words

B202 Accounting & Finance - Essay Example While analyzing the company financials certain parameters were kept in mind. The analysis is conducted in two segments .The first segment would focus on the comparison of financial ratios of the company among different periods. The later segment would be of the comparison of company financials vis a vis the ratios of the respective industry. The ratios those would take part in this analysis are briefly portrayed below. While calculating for the above ratios ‘revenue figures’ represents ‘sales’.Net profit margin ignores the profit those are paid out to its debt investors as interest and because of it, this ratio is not so effective while comparing between firms having different capital structures . The liquidity ratios come next. It’s very much important for a firm to keep a certain level of liquidity in its portfolio, so that if needed it can lay its hand on the liquid assets. These ratios may change rapidly as its components i.e. both the short terms assets and liabilities can get easily changed over time periods. Current assets consist of cash and other assets which can be turned into cash within very short period of time. Firm’s current liabilities consist of payments which is payable in near future. Thus current ratio tells us how much current assets is available to cover up the current liabilities. Some assets are closer to cash more than other assets. In difficult times, these more liquid assets can be used to repay the current liabilities. These kinds of assets mainly consist of cash and cash equivalents, short term securities and receivables from customers. Thus quick ratio is measured as The table below takes care of the liquidiy ratios. Though the current ratios had dropped by a certain amount in 2006 but thereafter the company has taken care of the same. This is very much visible by the stable growth in current ratio from

Strategies for Market Research

Strategies for Market Research Marketing is a business discipline undertaken for one sole purpose, to enable sale of their product and service to consumers. The consumer behaviour is the study of how consumers interact with their surrounding environment when purchasing or disposing off the product. It forms the basis of marketing psychology i.e. why a person chooses one alternative over the other. The increasing competition and cultural shifts in societies across the globe have made marketing a challenging task. Therefore, marketers must strive to understand consumer’s behaviour and the drivers behind such behaviour in order to serve them well. Focus should be on varied factors like consumer attitude, buying habits, the colours they like, the tastes they prefer and so on. This study of consumer behaviour is critical to the success of businesses today and is the basic purpose of the practice of market research. As per advertising guru David Ogilvy negligence of research in business is like ignoring decodes of enemy signals in a war. He recognized that people who enter the market without proper research face the risk of their hard work being blown up by the winds of change. In his book he has discussed the value of market research which can get information on expected consumer response to a product way before they are launched in the market thus saving millions. Companies like proctor and gamble (PG) and Unilever realized this way before than others which added to their competitive advantage. Nowadays whether you are a manufacturer, a retailer, an MNC or a local store, consumer market research is inevitable in order for the business to succeed. This is the primary reason behind the phenomenal rise of market research agencies in the last few decades. Qualitative Market Research Talking about market research, the most emerging practice now days is qualitative market research. Qualitative market research is the technique of market research that involves observation, analysis and interpretation of behaviour of a small number of people in their natural setting. The researchers ask broad open ended questions and collect descriptive data from participants. Unlike quantitative market research, where the focus is on finding trends and doing prediction, qualitative market research focuses on explaining behaviour. It helps in providing more in-depth understanding of human behaviour and the reasons that govern such behaviour (why and how). The three most commonly used techniques are: Focus Group Discussions, In depth interviews (on one to one basis), and Observing participants in their natural environment i.e. Ethnography. Out of these, focus group discussions are of the most common type. So much so that they have become synonymous with the term qualitative market research. Focus Group Discussions (FGDs) Focus group discussion was one of the foremost qualitative research tools available to the practitioners. It involves group of people sitting in an interview like setting. A typical focus group consists of 6-10 people who are unrelated to each other. They are brought together by a moderator. In the field ofmarketing, focus groups are used as an important tool for acquiring consumer feedback. People are asked open ended questions about their attitude, values, beliefs and perceptions towards a particular product, brand, advertisement, concept or packaging. This technique capitalizes on the inter-personal communication amongst participants to generate data. This means that instead of asking one to one questions, the researcher throws the topic of discussion to the group and encourages them to share their ideas and opinions and counter question each other’s experiences. Following steps are involved in focus group discussions: Set the objectives: The purpose of the study needs to be clear and specific. The more well defined the objective, easier the execution and analysis. Identify information needs: It involves decision upon what clients already know and what questions needs to be answered, what hypothesis is to be set regarding attitudes and motives and on what topics feedback is required. Identify participants: This involves decisions as to number of participants required, preferred characteristics of the participants and the method of recruiting them. Generate questions: A list of open ended questions needs to be kept handy. For e.g. instead of asking â€Å"do you like this packaging?† the moderator shall ask, â€Å"What do you think about this packaging?† Select moderator: The moderator should be a knowledgeable person with regard to the issue in hand. Also, he should be able to deal tactfully with the participants, keep the discussion on the right track and free from any bias and preconceived notion. Select the venue: The venue for the focus group study should be able to accommodate 5 to 15 people easily. Also, it should be easily accessible for the participants. A well selected venue also helps in encouraging conversation (cozy, inviting etc). Moderate groups: The moderator will ensure the discussion keeps flowing in the right direction, probe respondents and draw out important questions. Analyze and prepare reports: After thorough review of tapes recorded and notes taken, a written summary of results is submitted to the clients. Focus group discussions as a technique is most suited in the situations where opinions and attitudes of consumers are conditional to the purpose of study. It is also suited in new areas of research. However, caution should be taken when the discussion could become emotionally sensitive or where confidentiality of information could be compromised. The advantages of focus group discussions are in abundance. This method is extremely useful for bringing out the unanticipated reactions from the participants giving information about not only what behaviour people execute, but also how and why people behave so. Due to this reason, it can also be used as an effective social research tool in case of children or adults who are less literate. Thus, focus groups help in providing information about why or how a person holds certain beliefs about a topic or program of interest. It is a powerful social research tool and can provide high quality and validated data from the real consumers and that too in a cost efficient manner than if individuals were interviewed separately. It also adds flexibility to the research process with research having control to take the discussion in the right direction .Thus focus groups help to improve planning, implementation as well as evaluation of marketing strategies. The technique also suffers from some limitations. First, groups may be difficult to assemble or may vary considerably. As the group interaction forms the basis for focus group discussions, the information so provided can only be used at group level and not individually. Also, the people representing the consumers in the focus group setting might not be an exhaustive representation of the population at large. There is also the risk of moderator being less knowledgeable or biased towards a particular opinion. However, with necessary precautions focus group studies act as one of the most efficient social research tools. In-Depth Interviews (IDIs) In-depth face to face interviews use intensive one to one discussions with a small number of people. They are executed as confidential one to one conversations between researcher and participant. This method is suitable where the purpose of the study is to get exhaustive and precise answers from individuals regarding their motives and experiences which focus group studies and quantitative techniques cannot encompass. The method is also suitable where if the issue in hand is sensitive or controversial. Also, interviewing community leaders can provide a quick overview of needs and concerns of the respective communities. In the world of marketing, in-depth interviews are used usually in the initial strategies namelyto evaluate a new packaging, a new product concept, advertisement idea and so on. The in-depth interview is usually conducted in private surroundings of the participant so as to keep him comfortable in his or her natural settings. The average duration of the interview ranges from 1.5 to 2 hours and is usually recorded for post interview analysis. Following are the stages in the interview process. While focus group discussion is essentially a group behaviour technique, in depth interviews allow researchers to study opinions and behavior of participants individually. Also, in-depth interviews provide an opportunity to probe deeper into issues and get rich data. Ethnography Ethnography finds its origins in anthropology. In simple words ethnography is study of human beings in their natural environment and culture. The researcher submerges himself in the diverse and unfamiliar cultures and makes a rapport with the local population to understand their value system. This is done through active participation in day to day rituals such as cooking, eating, sleeping and shopping and close observation of people’s attitudes, perceptions, beliefs and customs. In marketing context, ethnography helps in understanding customer point of view. While focus group discussions and surveys provide self reporting data, ethnographic studies provide observational picture of consumers engaged in their day to day lives. It therefore, answers the latent reasons (why) behind consumer behaviour in particular communities. Once the facts are revealed, the information is then translated into marketing recommendations for the clients. The basic reasoning behind ethnography is that life and decision making process are more complicated than the marketing models. Ethnography can be undertaken at any time of the day in shopping malls, theatres, restaurants, stations, bus, colleges, schools or even on street. Now days, it can also be undertaken online by tracking down the images and posts shared by people on social media. Ethnography can be good to bring innovation in marketing strategies and foresee where a brand can expand into. For instance marketers of a well known brand of washing machines were surprised to find that their product was actually being used to make Lassi an Indian refreshing drink in state of Punjab, India. Another ethnographic study in Europe revealed that consumers use mobile to check their bank balance as a habit and not just in emergencies. This provided financial companies important stimuli to restructure their mobile banking marketing mechanism. Qualitative over Quantitative Market Research Quantitative market research is the mathematical part of the market research. It uses statistical models and theories to indicate results. They conduct research with the help of structured questionnaires and surveys and use a standardized set of questions for each individual. This facilitates accuracy and comparability in data sets. Qualitative research on the other hand aims at identifying factors that cannot be quantified such as culture , socio economic norms , role of gender , psychological barriers etc. it thus tries to fill the gaps left by quantitative market research. In short, while quantitative market research quantifies variations in data that determine varied consumer actions, qualitative research seeks to identify reasons behind such factors. When companies undertake qualitative market research, they usually expect a number of substantive advantages. Following are some advantages of qualitative market research over quantitative market research: They help in understanding the reasons (why and how) behind a certain behavioural action. Studies intangible factors that are responsible for changes in consumer behaviour thus providing a holistic view. For e.g. psychological factors such as perceptions, motivation and learning can only be understood using qualitative market research. They stimulate new dynamic thinking amongst participants and helps in evoking emotions and unadulterated latent reactions from the participants for better insights. It adds flexibility to the research process. There are no structured yes and no questions. Participants are encouraged to provide their opinions and understanding. Studies like ethnography are done in the natural environment of consumers, thus, providing a realistic picture and first hand information on issues concerned. The information from in-depth interviews is very rich and detailed. Thus, qualitative market research provides marketers with insights into drivers of consumer behaviour, purchasing habits and other opportunities for innovative product development and sustained competitive advantage. We can safely say that qualitative market research is surely here to stay and as the competition sores, is going to gain more importance. This is why there is an unprecedented rise in qualitative market research agencies. Also, many global companies like Unilever, PG, and ITC have already brought on board anthropologists in their marketing department. With growing innovation in the field, numerous other examples of qualitative research techniques available for practice in future are online focus groups, bulletin boards and so on. With the insights so gained using qualitative market research methodologies, marketers become well versed with the consumer behaviour patterns. The importance of understanding such consumer behaviour by marketers is that it enables them to gain knowledge about needs and attitudes of their target market. Infact, almost all the marketing decisions taken by the management are based on the knowledge and predictions about consumer behaviour. Conducting market research is a complicated and technical process. However, understanding it is critical for marketers in particular and business at large. It enables them to design efficient marketing strategies for particular market segment and it is more likely that the message developed for the target market will be delivered in a desired manner to the correct audience. For instance, by finding out that consumers are more receptive to food advertising when they are hungry, companies can schedule there advertisements in late afternoons. It thus hel ps to provide better product satisfaction, improve brand image and create competitive edge in the market. Hence, qualitative market research answers the threats posed by the uncertainties of consumer behaviour. It therefore provides solution to one of the biggest challenge of marketing in particular and of business management at large.

Starbucks Structural Frame Essay -- Starbucks Business Analysis

Starbucks initially was a small structure, run by three partners in a small shop in Seattle. The company then was restricted to selling only whole bean and ground coffee. It was typically a top down structure were the three people in the top management were the decision makers. In 1984, when Schultz suggested the idea of selling coffee and expresso drinks, the directors of Starbucks rejected the idea, in spite of the fact that the move would have made more profit for the company. This displayed the rigidity of the management towards any changes in the business. After taking over the operation of Starbucks in 1987, Schultz decided to expand the company's business. The next few years brought some positive changes to Starbucks. Starting with 17 stores in 1987, the company quickly expanded by opening stores in Chicago and Portland. With this period of expansion, Schultz hired some experienced people to help him manage the growth plans. In 1989, Schultz hired Howard Behar, who was familiar with opening and running several retail stores. A year later, Schultz brought in Orin Smith as the Chief Finance and Operations Officer. Both Behar and Smith were highly experienced in the industry and helped Schultz build the company's infrastructure.[1] The new structure of Starbucks was flat and it encouraged competitive ideas from all levels of the company. This necessarily depicted a lateral coordination c... ...ffman Neilson(2008), Strategy & Business http://www.relationalcapitalgroup.com/knowledge-center/TheBaristaPrinciple.pdf 2) Shultz, H. (2008) Starbucks makes organizational changes to enhance customer experience. Retrieved March 13, 2008, from, http://www.starbucks.com/aboutus/pressdesc.asp?id=831 3) George, J. and Jones, G. (2005). Understanding and Managing Organizational Behavior. (4th ed.)Upper Saddle River, NJ: Pearson Prentice Hall. 4) Gulati Hoffman Neilson, Strategy & Business, 2008 http://www.relationalcapitalgroup.com/knowledge-center/TheBaristaPrinciple.pdf 5) Barbero, Martin, Starbucks goal: Recapture its early buzz, Jan 2008. http://www.iht.com/articles/2008/01/30/business/sbux.php 6) Hoovers Database http://premium.hoovers.com/subscribe/co/overview.xhtml?ID=ffffrhkchrhhyjjrfk Starbucks' Structural Frame Essay -- Starbucks Business Analysis Starbucks initially was a small structure, run by three partners in a small shop in Seattle. The company then was restricted to selling only whole bean and ground coffee. It was typically a top down structure were the three people in the top management were the decision makers. In 1984, when Schultz suggested the idea of selling coffee and expresso drinks, the directors of Starbucks rejected the idea, in spite of the fact that the move would have made more profit for the company. This displayed the rigidity of the management towards any changes in the business. After taking over the operation of Starbucks in 1987, Schultz decided to expand the company's business. The next few years brought some positive changes to Starbucks. Starting with 17 stores in 1987, the company quickly expanded by opening stores in Chicago and Portland. With this period of expansion, Schultz hired some experienced people to help him manage the growth plans. In 1989, Schultz hired Howard Behar, who was familiar with opening and running several retail stores. A year later, Schultz brought in Orin Smith as the Chief Finance and Operations Officer. Both Behar and Smith were highly experienced in the industry and helped Schultz build the company's infrastructure.[1] The new structure of Starbucks was flat and it encouraged competitive ideas from all levels of the company. This necessarily depicted a lateral coordination c... ...ffman Neilson(2008), Strategy & Business http://www.relationalcapitalgroup.com/knowledge-center/TheBaristaPrinciple.pdf 2) Shultz, H. (2008) Starbucks makes organizational changes to enhance customer experience. Retrieved March 13, 2008, from, http://www.starbucks.com/aboutus/pressdesc.asp?id=831 3) George, J. and Jones, G. (2005). Understanding and Managing Organizational Behavior. (4th ed.)Upper Saddle River, NJ: Pearson Prentice Hall. 4) Gulati Hoffman Neilson, Strategy & Business, 2008 http://www.relationalcapitalgroup.com/knowledge-center/TheBaristaPrinciple.pdf 5) Barbero, Martin, Starbucks goal: Recapture its early buzz, Jan 2008. http://www.iht.com/articles/2008/01/30/business/sbux.php 6) Hoovers Database http://premium.hoovers.com/subscribe/co/overview.xhtml?ID=ffffrhkchrhhyjjrfk

Psy 240 the Nature-Nurture Issue Essay

The Nature-Nurture Issue The nature versus nurture perspectives have been have been argued for centuries. The pro-nature perspective follows the theory that genetics and biological inheritance determine behavior, internal forces or stimuli; the pro-nurture perspective follows the belief or theory that experience and environment determine behavior, external forces or external stimuli. The psychology field known as biopsychology researches the aspects of both perspectives using critical thinking and research practices to determine the effects of both of these perspectives on human behavior; the control groups used in experimentation can be human or non-human subjects of a similar species. (Pinel. (2009)). The flaw in attempting to determine what degree of behavior is attributed to nature and what degree is attributed to nurture is that both of these perspectives play a role in how and why a behavior is exhibited. Some of the behaviors which individuals exhibit can be linked to animal or primal instinct, these are behaviors based on nature; however, we must consider that the primal fears we have as children such as fear of the dark, often no longer exhibited in the individual as an adult. This change in the behavior can be attributed to experience over time, the nurture perspective agrees with experience’s influence in behavior. (Pinel. (2009)). The brain is the central focus of the study of biopsychology, and researchers have determined that the brain’s functions are responsible for human behavior; research has determined the neuroplasticity theory of the brain changing based on both genetics and experience. The neuroplasticity of the human brain can be used as an example of why it is important to consider how much of behavior is based on genetics and how much is based on environment; however, it would be difficult if not impossible to determine what portion of behavior is nature or nurture because both effect behavior based on the neuroplasticity theory There are genetic factors that can affect behavior; however, experience and nurturing can assist in controlling some behaviors based on learning or the xpectations set for an individual. This idea makes sense that both genetics (nature) and environment (nurture) play important roles in behavior, the behavior of an individual may change over the course of a lifetime. (Pinel. (2009)). Reference Pinel, J. P. J. (2009). Biopsychology. Boston, MA: Pearson.

Strategic Process for Recruiting Employees

Employee planning, recruiting, selecting, staffing and hiring is often a very difficult, timely and expensive task for any organization wishing to survive in today’s economy. In order for any organization to be successful they must attract and hire the most talented employees that fit the culture of the organization. It is the employees that make up an organization, so to be successful they must have a strict strategic process in place to recruit the right people for their organization. There are many strategies that organizations use to recruit employees which include, the pipeline approach, competitiveness, employment branding, sourcing, diversity and technology to name a few. (ere. net, 2008, 4) At Patton –Fuller Community Hospital many of these strategies are used effectively by their Human Resource department. The pipeline approach is a strategy that seems to be one of the most important recruiting strategies because the approach builds a steady stream of applicants, and allows for resumes and applications to come in, and get sorted into areas of expertise that may be needed down the road. It is very important for organizations to plan for a need that may develop as time goes on. It is also extremely important to note that in every industry there lies a competitor. Organizations must take note of what the competitor is doing at all times when it comes to recruitment strategies. This strategy is one that could be adopted by Patton-Fuller Community Hospital in the case of losing an employee; it is always a good idea to have back-ups that may be available or recruited from the competition. Employment branding is extremely important in the recruiting process for any organization, especially in the medical field. The employees are attracted to a hospital’s external image as being a leader in the health care profession. Potential employees need to believe in where they work, and hospitals and other organizations can achieve this by painting this external image of what the organization is all about, attracting many talented applicants. Sourcing is a critical ecruitment strategy for Patton-Fuller Community Hospital. â€Å"If you don’t utilize sources that attract a high percentage of top performers, it is unlikely you will make a quality hire. † (ere. net, 2008, 8) Patton-Fuller relies upon their top-performing employees’ referrals, and recruiters that can screen potential applicants to ensure that they don’t end up with a weak hire. Diversity is becoming extremely important in all industries, but especially in the hospital setting. By hiring diverse people, the needs of the diverse patients that come into the hospital can be treated by a diverse group of individuals with different talents for different positions. Diversity for Patton-Fuller will allow for this hospital to succeed, so it is very important that they take this into consideration for every hire. Technology is the key for many hospitals wishing to survive in today’s economy. With new technologies on the rise Patton-Fuller can continue to advertise their needs on the web, which will save the company time and money by increasing the hiring speed and improve screening. In the medical field it is extremely important to have the most talented, dedicated team of professionals on staff to care for the needs of patients. The employees must be trusted not only by the patients, but also the staff. In order to ensure that the top notch employees are chosen, Patten-Fuller Community Hospital will have to continue to use the recruiting strategies that they currently use and try others as the future of technology is constantly changing.