Current and Non-Current Assets Essay

Current assets are items on a balance sheet. According to Investorwords, current assets equal â€Å"†¦the sum of cash and cash equivalents, accounts receivable, inventory, marketable securities, prepaid expenses, and other assets that could be converted to cash in less than one year,† (2008). If a company goes bankrupt, current assets are easily liquidated. Additionally, current assets are a source of funds for most companies. The importance of current assets to businesses is that these assets fund daily operations and expenses. Not only are current assets expected to be turned into cash, they many be sold, or consumed within a year. By contrast, non-current assets are not â€Å"†¦easily convertible to cash or not expected to become cash within the next year,† (Investorwords, 2008). Examples of non-current assets include fixed assets, leasehold improvements, andintangible assets, (Investorwords, 2008). The differences between current and non-current assets include time and form. Current assets are intended for use within one year, while non-current assets are not. If a company owns land and a building as the center of its business, that company is not going to convert the land and building,  non-current assets, to cash within a year. The company keeps both the land and building for longer time-periods. Another example of the difference between the two types of assets is equipment, or machinery. The company uses the equipment for its daily operations, and will not be done with the equipment within a year. The equipment is a non-current asset. Equipment and machinery belonging to a company depreciates over time. This is another characteristic of many non-current assets. Current assets do not depreciate within a year. Dividing assets and liabilities into current and non-current allows for the calculation of working capital. This is the amount of current assets minus current liabilities. Working capital is the relatively liquid part of the company’s financial position. The Order of Liquidity Assets are listed on the balance sheet in order of liquidity. Current assets come first. This order begins with cash and cash equivalents, including temporary investments maturing within 90 days, but excluding cash restricted for purposes other than meeting current obligations. Next in the order are short-term investments. Debt security investments are classified as trading, available-for-sale, or held-to-maturity securities. Investments in equity securities are classified as either trading or available-for-sale securities. Trading and available-for-sale securities are reported at fair value, while held-to-maturity securities are reported at amortized cost, (NACUBO, 2005). The order of liquidity on the balance sheet continues with receivables, which discloses the amounts of expected uncollectibles, nontrade receivables, and accounts pledged or discounted. Inventories are the next part of current assets, in which a company discloses the basis of valuation, pricing method, and completion stage of manufactured inventories. Last in the order of current assets are prepaid expenses, although expenses prepaid past the current operating cycle are reported as deferred charges in the â€Å"other asset† section of the balance sheet, (NACUBO, 2008). The order of liquidity on the balance sheet moves toward non-current assets. Long-term investments are the next item on the balance sheet. These include investments in securities, tangible fixed assets not currently used in operations, special funds, and investments in affiliated companies or nonconsolidated subsidiaries. Long-term investments are those that management intends holding for an extended period. Property, plant, and equipment are non-current assets next listed on the balance sheet in order of liquidity. Most of these assets are depreciable or consumable. The basis of valuation, any liens against the property, and accumulated depreciation or depletion is disclosed. Usually, a detailed classification of property, plant, and equipment is disclosed in a supplementary schedule, not the face of the balance sheet, (NACUBO, 2008). Intangible assets are next in the order of liquidity. Intangible assets are resources without physical substance providing economic rights and advantages. Limited-life intangible assets are amortized over their useful lives and reported net of the accumulated amortization. Indefinite-life intangible assets are not amortized; instead, they are assessed periodically for impairment. Some intangible assets expenditures are not capitalized, but expensed as incurred, (NACUBO, 2008). Last in the order of liquidity are â€Å"other assets†. This is a special classification for unusual items that cannot be included in one of the other asset categories. Examples include deferred charges, non-current receivables, and advances to subsidiaries. The classification of assets depends on the nature and the use of the item. Reference Business Accounting. (2003). Retrieved April 13, 2008 from URL http://home.millsaps.edu/ Investorwords. (2008). Retrieved April 12, 2008 from URL http://www.investorwords.com NACUBO. (2008). Balance sheet classification. Retrieved April 13, 2008 from URL http://www.nacubo.org

A Critical Appreciation of Wallace Steven’s

The beaker of the poem, a man, is walking down a beach with a friend and hears a woman singing. He muses on how the sounds of the ocean contrast and inspire her voice. He imagines that she is as beautiful as both her song and the ocean. Though he doesn't actually see the woman's face, the speaker knows that she is lovely. As he walks behind her, the speaker notices how her bright, ethereal voice compares to the dark sounding sea. To him it is almost as if the ocean was a spirit whose voice they could not hear, but knew was there. For most of the poem Stevens paints a picture of n ocean that is both enchanting and mysterious at the same time.In turn, the woman's song is made mystical and alluring because of the setting. Though we, the readers, don't see the woman or hear her song, we experience the transformation that the sea, the city, and the speaker go through. In the fourth stanza the tone of the poem turns darker and the speaker begins to notice things other than the woman, her s ong, and the ocean. He claims that it was her voice that made the sky clearer and the ocean belonged to her and her song alone. He and his companion realize hat the only world for her was the â€Å"one she sang and, singing, made. In the seventh stanza we learn the name of the speaker's companion: Ramona Fernando. He (the speaker) asks Ramona why things looked different after the mystery woman finished her song; her song made the city lights brighter and more enchanting than they were before. At this point we realize that the speaker has had an epiphany. Some critics say that the speaker's epiphany was Stevens' way of showing the importance of art. Without it, and in this case without song, we would never be able to see the world Leary. The woman's song opened up the speakers eyes to the light of the world around him, and in turn the poem itself opened up our eyes.The poem focuses on the perception of imagination and reality. In this poem, reality pertains to the totality of all th ings possessing actuality, existence or essence; imagination, on the other hand, captures and interprets reality so an individual is able to create their own meaning of the given world, and escape the facts of existence through their own sense of creativity and ingenuity. At the beginning of the poem the speaker seeks an answer to whether the song exists through an external reality or within his ability to formulate this into something personal.Throughout his walk the speaker never truly determines whether the song is an external reality or within his own imagination, Stevens proposes that the song is neither, since one is not able to exist without the other. Near the end of the poem, the speaker muses upon the woman's song and determines that she is both of song and sea, thus his enjoyment is derived out of a fusion of his imagination interpreting the voice along with an external awareness of his surrounding reality.Above all, Stevens captures and portrays this theme through his un derstanding of the human condition which perceives the inhuman as human. Throughout â€Å"The Idea of Order at Key West† the narrator seemingly attempts to distinguish whether the song he hears is the sea's waves singing to the woman's voice, or if the singer's tune is his imagination's perception of the ocean. To answer this question, Stevens suggest that the narrator must investigate and recognize the difference between imagination and reality.Since the sea is an external nature which causes a meaningless â€Å"constant cry' and cannot be â€Å"formed to mind or voice†, the orator must distinguish the ocean's image and counterpart through the singer. Likewise, her ability to utter the sound of the waves â€Å"word by word† helps to transform the inhuman song of the sea into the entirely human song of the woman. Moreover, as the singer measures and interprets her song; the ocean similarly analyzes and follows the laws of nature.As the speaker begins to perceiv e that the song is more than the sea merely singing through the woman's voice, he begins to feel a sense of ineffability which goes beyond the mere language of the tune and experience of his walk. Thus in stanza went eight he states: â€Å"But it was more than that, more even than her voice, and ours† The narrator begins to accept the mystery behind the songs blissfulness and acquires the tune as the driving spirit of all the external realities in his presence.This realization of the songs ineffability makes â€Å"the sky acutest at its vanishing† (35) and â€Å"measured to the hour at its solitude†. For Stevens, these acts of interpretation are essentially human acts which help people come in touch with themselves and the world around them in order to experience the Joys of being one with both themselves ND nature. Within the final lines of the poem, Stevens' links the title by connecting with and relating to our desire for ordered experiences and sympathizes a mong us since we always try to make the inhuman human.Thus at the ending, the woman's song guides the narrator and helps to clear the vision between the order which humans seek of the natural world: â€Å"O! Blessed rage for order†. Likewise this cognizance opens â€Å"fragrant portals†. The â€Å"fragrant portals† are important because they open a new door to an edifying new self-awareness. Moreover, as narrator begins to apprehend the usage of the woman's song, he realizes that the song allowed him to see order in the world.Additionally, the song produces from within him a desire to create his own song, in order to interact and correspond with the imagination of others Just like woman has done to his. Stevens' understanding of the human condition serves a great purpose in â€Å"The Idea of Order at Key West†. Stevens portrays the narrator's experiences through the reflection of his thoughts. When the voice comes along he begins to change his way of thin king because she helps him understand and become conscious of the illusion of his imagination.Through the language of â€Å"The Idea of Order at Key West† Wallace Stevens expresses his perception of the world. His thoughts and language become his instruments that craft the poem. Through the readers of the poem, Stevens captures and engages them: â€Å"It is the spectator and not life, which art really mirrors† (Oscar Willed) As the spectator mirrors this form of art and interprets meaning into the works allurement, they becoming cultivated and enlightened. As a poet, Wallace Stevens believed that poetry should be similar to a work of art. And like a work of art, Stevens' poetry helps his readers discover order in a chaotic world.

A brief history of Fidel Castro

A brief history of Fidel Castro This paper will discuss a brief history of Fidel Castro, his leadership styles, characteristics, and the determinants that occurred during his rise to prominence. It provides his sources of power, and further examines his effectiveness or non effectiveness as a leader. Research on Fidel Castro and his leadership was conducted through online sources which include three academic. Importance: What relationship could be found between the Fidel Castro, the followers, and the situation? What were his perceived positive and negative qualities? What outstanding traits could be detected within Fidel Castro? About Fidel Castro Fidel Alejandro (Ruz) Castro was born in Biran Cuba on August 13th 1926 to Angel Castro and Lina Ruz in the Eastern Province of Cuba. Fidel was the third child of his siblings by father, Angel Castro. Although he was born out of wedlock, he was privileged to upper-middle class living environments. He was educated in a private boarding school, attended college and later went on to Harvard Law School. At Harvard, he became engrossed in the political climate in Cuba especially as it relates to the nationalism, anti-imperialism and socialism. (Castro’s Biography, 2010) Castro was married to Mirta Diaz Balart. They had one son whose name was Fidelito which meant â€Å"little Fidel†. Her family was wealthy and Fidel Castro capitalized on this opportunity and as a result was exposed to a much wealthier lifestyle and at the same time, was able to network with key political associations. The marriage ended after six years because of a lack of financial support for his family. Mirta was his second wife. (Castro’s Biography, 2010) Castro’s enthusiasm for reform and social justice led him to the Dominican Republic in an attempt to help overthrow Mr. Rafael Trujillo. Although this attempt was not successful, this did not deter him from the fight for social justice. He was part of an anti communist party that was formed with the aim of exposing government corruption, developing strategies to gain economic independence and implement social reform in Cuba. Although his attempts to overthrow the leader at the time, General Fulgencio Bartista failed, he never gave up. He was sentenced to jail for those attempted coups but continued the fight to become Cuba’s leader, in an effort to make the changes he was hoping to fulfill. This long struggle was finally realized on January 1st, 1959 when he assumed the leadership of the government. He appointed his brother, Raul Castro the duties of commander of the armed forces on February 15th 1959. Leader type and history â€Å"Charismatic leaders are exceptionally self-confident, are strongly motivated to attain and assert influence, and have strong conviction in the moral correctness of their beliefs† (House charisma and intellectually simulated that in itself helped Castro achieve the drastic change he sort for Cuba. That is the social and political reform he aimed to achieve as a leader.

Causes and Effects of teenage abortion in the USA Research Paper

Causes and Effects of teenage abortion in the USA - Research Paper Example This research will begin with the statement that each year in the United States, approximately 750,000 teenagers between the ages of fourteen and nineteen become pregnant. Of this number, an average 200,000 teenagers a year seek an abortion. As more teenagers find themselves becoming pregnant, more are finding ways to avoid the responsibility of parenthood at such a young age. Unfortunately, not only do the excuses for obtaining abortions continue to rise, but so does the number of young pregnant females obtaining an abortion. As with any physical damage to one’s body, though, abortion comes with its consequences. Pregnant teenage females often seek abortions when their pregnancies are a result of rape or date rape. Rape is the forcing of sexual intercourse by one person on another. More often than not, rape is administered by a complete stranger, though there have been many cases of friends, extended relatives, teachers, and even church officials raping and impregnating young women. Date rape, on the other hand, is rape that is administered usually after the female has been drugged or otherwise made unconscious. This form of rape is often done by someone that the female knows well, like a friend or even a boyfriend. However, there are some men that drug women they do not know while at a party or a gathering and then invite them out to a place where the rape occurs. Date rape generally takes place while the female is spending time with the potential rapist, like on a date, hence its name.... Similar to rape, incest often comes without the consent of the other person. Sexual abuse can also be brought on by a male family member, but the teenager can also face sexual abuse from her boyfriend or a close male friend. The primary factor in both incest and sexual abuse is that the teenager had no say in the engaging of sexual intercourse. Unfortunately, physical violence can also be administered during the process of the abuse, rendering the teenager helpless to get away. There are many reasons that a teenager gets an abortion as a result of incest or sexual abuse. The first reason is simply because the pregnancy was due to incest and the teenager does not want to keep the baby who was fathered by someone that she is related to. The teenager might also abort to avoid revealing that a family member had gotten her pregnant. They want to avoid the shame that comes with such a confession, even though they had no part in what took place; they might also have been threatened to keep it a secret, and might not have a choice of whether or not to abort. Likewise, if the teenager was sexually abused by her boyfriend, she does not want to keep a baby that was created by force with someone that she loved and trusted. Another reason is because many children that are conceived out of incest often have physical deformities or mental illnesses. Teenagers abort for this reason as they do not want the responsibility of raising a baby that might be sick and need special attention and care. Promiscuity Promiscuity is when a person has many sexual relationships, which makes up a large percentage of pregnant teenagers at any given time in the United States. Many of

The after effects of Bradford stadium fire Essay

The after effects of Bradford stadium fire - Essay Example The smoke also caused difficulties in breathing for the people in the stadium. A lot of supporters died in the fires, some died while trying to flee through the lavatories, and others were not able to flee and so died glued to their seat some funs tried to save the other funs from the fire but still many perished (Withgot & Brennan, 2011). Also the players were affected psychologically by the occurrence of the fire and its effect such that they were not able to play as expected during the rematch. The fire destroyed the stadium which is a medium of social environment. A stadium is a place where people socialize with each other as they watch a match. This environment is destroyed since after the fire the stadium is not fit for people to go and watch a match so it acts as a barrier for people to socialize. There is also the economic environment which was also affected by the occurrences of the fire. This economical environment was affected by the fact that people who worked in the stadium lost their jobs since the stadium could not continue offering its services. (Dudley 2006) Also after the fire, the income generation through the stadium was affected since people who came to watch a match and paid could not since the stadium could not serve its purpose for some time. The stadium also required to be renovated so a lot of funds were used to accomplish this and so the economic environment became largely affected. The environment is a system that is made up of multiple entities that are related and for this reason if one component is tamper with by a certain environmental hazard the whole system gets affected in a way. In the discussion above, fire at Bradford stadium was really a challenge to the various types of environment that surrounded the stadium. Fire can hazardous to the environment if not properly managed, by this it means that people should be cautious when using fire as a tool in their duties. We see from this scenario that just

Indecent Behavior Essay Example | Topics and Well Written Essays - 250 words

Indecent Behavior - Essay Example 439). The attraction towards indecency through media is increasing day by day. Studies concerned with internet utilization prove that the sites which provide access to sexual materials have great popularity among the internet users. There is the great threat that the children may easily get exposed to indecent content and in order to prevent it the congress enacted the Communications Decency Act of 1996. It prohibited anyone from knowingly transmitting any indecent communication to persons under the age of 18, through a telecommunications device (Lively & Weaver, 2006, P. 149). The society is a deciding factor in determining what is right and what is wrong. Social changes occurring in one’s society can alter one’s attitude and behaviors. Say for people have different opinions about the homosexuality. Some are totally against it while the other group gives consent mentally. Certain countries’ legal systems make the particular group see themselves as wronged and pe rsecuted and it relieves their feeling of guilt. It is because of the police that homosexuals often regard themselves as unfairly treated minority group (Nardi & Schneider, 1998, p.

Final assessment for implement operational plan bsbflm405b Assignment

Final assessment for implement operational plan bsbflm405b - Assignment Example In this project we are going to target all the international students that have a Bachelor Degree in accounting and 3 years of working experience in accounting. The main functional group of this project is the new students having Bachelor Degree. The mission of this project is to provide the international students the facility of higher education. We will act on behalf of the students while dealing with the University and the Australian high commission in getting the visa. In this way the student have to do less effort and their overall process of admission will be easier. The vision of this project is to make sure student visa requirements are met for pursuing the MBA program. Here we will also make sure that the students also have the facilities of the finances for the course fees along with the accommodation. In this project we have to make sure that the overall project can be handled and managed on the time. In this way we will be able to complete the project before the ending date of the admission in the Universities of the Australia. We have to concentrate on the legal areas of the visa processing and financial strength of the students. The main initiative of our agency is to enhance the overall market value and get a better competitive edge in the international immigration. We have established a vision to support and provide better and on time facilities for the Business Visa, Working Visa, Skilled Migration Visa, etc. The aim of our agency is to provide students the better platform for online admission for their higher studies. The agency has settled a business scope and it is established that now it will target international students by providing assistance in applying for a student visa. In this project we have established a project that will facilitate in organizing applications of student visas for a group of international students. Now I will talk about the

Peer Support Program for New Nurses Essay Example | Topics and Well Written Essays - 500 words

Peer Support Program for New Nurses - Essay Example Every day that nurses see a distressed person, an injured person and even deaths occurring almost every day in their presence. Although they are trained to handle this, they nonetheless have to sometimes be overwhelmed by this (Robinson, 2003). These nurses need peer-support in the workplace. Â  Nurses also almost always have to work with precision which means that any small mistakes can lead to serious repercussions for the patients as well as the nurses. Peer support is definitely appreciated to maintain this accuracy in working. New nurses may not be able to have everything in their fingertips and sometimes can have a very difficult time getting their head around the many tasks they carry out every day. In this regard, a peer support program for new nurses would have to include the following; Â  Like any workplace, nurses and especially new ones need social support from their peers. Social and psychological support is important to the nurses because that feeling of belonging is a vital ingredient in increasing the nurse’s efficacy (Hughes, 2012). Â  Building the formal social support systems can be made from the informal to make formal systems. It is good to note that informal social support systems develop naturally everywhere in the workplace. Unfortunately, these informal social support systems are not efficient in their ways and it is necessary to make sure that they are harnessed. To formalize this system is important to make sure that the new nurses can benefit as soon as they join the working force in a care centre or hospital. Â  New nurses can be overwhelmed by their work. Needless to say, overwhelmed nurses can only give healthcare which is of lower quality to the patient. This can also lead to their mental health deteriorating and they therefore need support. This peer support can be accessed through information systems which make real-time consultations with other nurses (Michael, 2014). Â  

Conformity Term Paper Example | Topics and Well Written Essays - 1500 words

Conformity - Term Paper Example As said above, there are several factors that determine the impact of this process. A brief explanation of how some of these factors affect the psychology of a person is provided with apt examples. Conformity is an interesting topic to be discussed in the field of social psychology because the degree to which it affects each person is completely dependent on the external factors. There is also another dimension to it wherein the individual conformity comes into picture. Here, the individual by themselves accept the norms of the group they belong to and follow them. As an individual belonging to any particular group, there are always some norms and cultural rules that need to be followed in order to be in social coherence with the group. The individuals are under immense pressure to follow them so as to be considered a part of that group. In the current world, the generation of youth and peer pressure is forcing more of individuals to succumb to the thoughts of superior groups within their community. They just have to do it to survive that atmosphere. Conformity is more of a group culture inference. Hence the size of the group, their cohesion and the status of each individual in the group play a major part. There are also pundits who believe that conformity is more of a culture oriented subject. They believe that it varies based on different cultures. Asch (1956) has demonstrated an example to prove that conformity is related with culture. He showed that an individual's judgment about a generic issue will be influenced by the norms of the group he belongs to, even though his individual assessment of the same contradicts. All the experiments done by these people have shown that the socio-cultural norms have an impounding effect on the individual conformity exercised. (Asch 1956) Variances of Conformity With the generic meaning of conformity being discussed, the three variances of conformity need to be mentioned. Herber Kelman, famous professor of social ethics had defined three variations of conformity. They are discussed below. Compliance Compliance is a form of conformity where a person, although disagrees about a certain topic within himself, acts to comply with the others in order to please them or to make them feel comfortable. This kind of act can either have a positive effect or a negative on the individual. Basically, a certain line of reference needs to be drawn such that the person can comply with others in order to please them but have to make sure he or she doesn't lose their self esteem in doing so. An example of such activity would be in a professional environment where a worker has to comply with their boss over any kind of issue in order to satisfy them.( Dittes et al 1956) Identification Identification is rather an alternate way of looking at compliance wherein the individual admittedly follows the values and norms of other persons they like. They willingly want to follow them, their roles and be like them. In some cases, it is how they would have been brought up. An example of such a scenario is where an individual follows the footsteps of his/her father and follows his ideals and values. It is because either he/she liked it or it is the way they are brought up. ( Dittes et al 1956) Internalization Internalization is one form which in most cases has the highest probability of causing negative vibes within a person. It is where a

Outline Muslim teachings on wealth and poverty Essay Example for Free

Outline Muslim teachings on wealth and poverty Essay Poverty: a state of being poor the status of having no money to take care of yourself and the basic needs of life such as, food, clothing and housing. Muslims believes poverty to be as a test to mankind form god. There are different types of evil and suffering which cause poverty such as: ? Moral evil ? actions done by humans which cause suffering. ?Natural evil ? things which cause suffering but have nothing to do with humans e.g. earthquakes. (I will explain it in the following paragraphs) When god created the earth he also made a being called Adam (pbuh) to take care of it, Allah order the angles to bow down to Adam (pbuh) (humans are superior to the angles as they have free will-which is why they can be vice-regents- but they are inferior because their free will means they can sin) means they can sin) all Angels except one ignorant Satan (iblis) refused to follow Allahs commands to bow down to Adam so Allah rejected him and throw him out of the heavens. However Allah allowed Satan to do mischief and disrupt mankind form worshiping Allah until the last day then Satan shall be sent to hell and those who were tempted by his evil shall follow him into the fire. Muslims believe that suffering is a test from god. But if there faith stays strong and they lead a good and devote themselves to Allah they shall rewarded with eternity paradise. be sure we shall test you with something of fear and hunger, some loss in goods or lives or the fruits of your toil, but give glad tidings to those who patiently persevere calamity, to god we belong and to him shall we return Muslims believe that the way to succeed and pass the test is to help those who suffer such as the floods in Bangladesh through Muslim charities such as Muslim hands, Islamic relief e.c.t. The Prophet Muhammad (pbuh) has said: Poverty can lead to Kuffar (ungratefulness). This is because a deprived human being may feel that his Lord is being unjust on him, but a human being cannot understand that this life is a test from Allah and the real life is the life hereafter. What does Islam say about Zakat Charity Wealth in the English dictionary is defined as, having huge sum of money or possession, riches, state of being well off. In Islam whatever wealth you posses is regarded as a trust from Allah (God). You are not free to do what you want with your wealth, as you will be accounted for how you release it. Islam teaches that wealth is something given by god for the benefit of humanity and there for it should be shared. Then (on the day of judgement) you will certainly be questioned about all the favours you enjoyed. (102:8) According to Islam, the wealth you posses does not show your superiority, neither or nor does it give you distinction or make you a part of honoured class. The one who posses the riches of Faith is the one who is wealthiest in the sight of Allah, not the one who posses material riches. Islam says that there is nothing wrong to posses wealth, as long as you earn it in the right (halal/lawful) way and discharge it in the right (halal/lawful) way. Islam has given guideline for the ways of life which mainly concentrates on the earning and use of wealth. Earning and spending is essential for living, but we do not live only for this. We have a greater purpose in life. Everything in Islam is for the benefit of mankind. The main principle of Islam aim to establishing a just society wherein everybody will behave responsibly and honestly, and not as cunning people who fight for as big share of something as possible without regard for honesty, truth and responsibility. Islam has given rules for earning wealth which all Muslims should abide by. Muslims must follow the Quran and the Sunnah: 1) Any earnings from the production, sale and distribution of alcoholic drinks are unlawful, as are earnings from gambling, lotteries and from interest (riba) transactions (5:90-91, 2:275). 2) Earning by falsehood, deceit, fraud, theft, robbery and burglary is unlawful. Deceitful acquisition of orphans property has been particularly banned ( 2;188, 4:2, 6:152, 7:85, 83:1-5). 3) Smuggling and the artificial creation of shortages are unlawful (3:180, 9:34-35) 4) Earning from brothels and from such other practises which are harmful to society are also unlawful. Islam strikes to the root of evil and wants to establish a just and fair society. A Muslim must earn his living in halal ways and he should always bear in mind that what ever he does, it is known to Allah. He will be accountable for his actions on the day of judgement. He cannot hide anything from Almighty Allah. Unlawful outgoings are also not allowed in Islam. It does not at all benefit a Muslim to spend money irresponsibly. Over-spending and waste are strongly discouraged (7:31, 17:26, 19:27, 25:68) What is Zakat Zakah (welfare contribution) is the third pillar of Islam. The Arabic word Zakah means to purify or cleanse. Zakah is to be paid once a year on savings at the rate of two and a half percent. This rate applies to cash, bank savings, gold and silver and silver jewellery. The rate for cattle and agricultural produce is different. Payment of Zakah is a means of keeping our wealth clear of greed and selfishness. SCHEDULE OF ZAKAH Wealth on which zakah is payable Amount which determines the payment of zakah (nisab) Rate of zakah 1 Agricultural produce 5 Awsuq (653 kg) per harvest * 5 per cent produce in case of irrigated land; 10 per cent of produce from rain-fed land. 2 Gold, silver, ornaments of gold and silver of gold and silver 85 grams of gold or 595 grams of silver * 2.5 per cent of value 3 Cash in hand or at the Bank Value of 595 grams of silver * 2.5 per cent of amount 4 Trading goods Value of 595 grams of silver * 2.5 per cent value of goods 5 Cows and buffaloes 30 in numbers For every 30, one- year old; for every 40, one 2- year old 6 Goats and sheep 40 in number One for first 40; two for 120; there for 300; one more for every 100 7 Produce of mines Any quantities Per cent of value of produce 8 Camels 5 in number A up to 24, one sheep or goat for each five camels B 25-35, one 1-year-old she-camel C 36-45, one 2-year-oldshe-camel D 46-60, one 3-year-oldshe-camel E 61-75, 4-year-old she-camel F 76-90, two 2-year-old she-camel G 91-120, two 3-year-old she-camel H 121 or more, one 2-year-old she-camel for each additional 40, or one 3-year-old she-camel for each additional 50 * Fiqhuz zakah It also encourages us to be honest in our dealings, earnings and outgoings (spending money). Zakah is a compulsory act in Islam it is not charity or tax. Charity is optional and taxes are used by states for any purpose, but zakah is only allowed to be spent in certain places such as helping the poor, even for needy or travellers in need and for the cause of Allah. Zakah is a form of ibadah. Ibadah (Arabic) the word meaning worship or obedience. It can be done in any activity in life, if they it is done to please Allah and Allah alone. We all so pay zakah to gain Allahs favour. Zakah is a way of contributing our excess wealth with those who are less fortunate then our selves. Truly we our selves do not own the wealth it belongs to Allah. He is the real owner of the wealth and mankind, we have to fulfil Allahs commands by paying zakah as an obligatory it is a part of ibadah. Zakah is a basic principle of Islam, based on social welfare and the fair distribution of wealth. In addition to zakah, Muslim are encouraged in the Quran to make voluntary contributions to help the poor and needy, and for other social purposes. These voluntary contributions are called Sadaqa (charity). Through zakah, rich share their wealth with the poor. Zakaah al-Fitr Zakaah al-Fitr is the name given to charity, which is distributed at the end of the fast of Ramadan. Zakaah al-Fitr is a duty, which is Waajib on every Muslim, whether male or female, minor or adult as long as he/she has the means to do so. Ibn `Umar reported, that the Prophet (sallallaahu `alaihi wa sallam) made Zakaah al-Fitr compulsory on every slave, freeman, male, female, young and old among the Muslims; one Saa` of dried dates or one Saa` of barely. The head of the household may pay the required amount for the other members. The significant role played by Zakaah in the circulation of wealth within the Islamic society is also played by the Zakaah al-Fitr. However, in the case of Zakaah al-Fitr, each individual is required to calculate how much charity is due from himself and his dependents and go into the community in order to find those who deserve such charity. Thus, Zakaah al-Fitr plays a very important role in the development of the bonds of community. The rich are obliged to come in direct contact with the poor, and the poor are put in contact with the extremely poor. This contact between the various levels of society helps to build real bonds of brotherhood and love within the Islamic community and trains those who have, to be generous to those who do not have. The main purpose of Zakaah al-Fitr is to provide those who fasted with the means of making up for their errors during the month of fasting. Zakaah al-Fitr also provides the poor with a means with which they can celebrate the festival of breaking the fast (`Eid al-Fitr) along with the rest of the Muslims. Ibn Abbaas reported, The Prophet (sallallaahu alaihi wa sallam) made Zakaah al-Fitr compulsory so that those who fasted may be purified of their idle deeds and shameful talk (committed during Ramadaan) and so that the poor may be fed. Whoever gives it before Salaah will have it accepted as Zakaah, while he who gives it after the Salaah has given Sadaqah. The goal of Zakaah al-Fitr is to make Believers more aware of Allah. By making them give up some of their wealth, through this the believers are taught the higher moral characteristics of generosity, compassion (sympathy for the unfortunate), gratitude to God and the righteousness. But, since Islaam does not neglect mans material need, part of the goal of Zakaah al-Fitr is the economic well-being of the poorer members of society. Zakaah al-Fitr is only Waajib for a particular period of time. If one misses the time period without a good reason, he has sinned and can not make it up. This form of charity becomes obligatory from sunset on the last day of fasting and remains obligatory until the beginning of Salaah al-Eid (i.e. shortly after sunrise on the following day). However, it can be paid prior to the above mentioned period, as many of the Sahaabah (companions of the Prophet (sallallaahu alaihi wa sallam) used to pay Zakaah al-Fitr a couple days before the `Eid. Naafi reported, That the Prophets companion Ibn `Umar used to give it to those who would accept it and the people used to give it a day or two before the `Eid. Ibn `Umar reported, that the Prophet (sallallaahu alaihi wa sallam) order that it (Zakaah al-Fitr) be given before people go to make the Salaah (al-Eid). And Ibn `Abbaas reported, That the Prophet (sallallaahu alaihi wa sallam) said, Whoever gives it before the Salaah will have it accepted as Zakaah, while he who gives it after the Salaah (will not, for it will only be considered as) ordinary charity. Therefore, one who forgets to pay this Zakaah al-Fitr on time should do so as soon as possible even though it will not be counted as Zakaah al-Fitr. The amount of Zakaah is the same for everyone regardless of their different income brackets. The minimum amount is one Saa` (two handfuls) of food, grain or dried fruit for each member of the family. This calculation is based on Ibn `Umars report, that the Prophet(sallallaahu alaihi wa sallam) made Zakaah al-Fitr compulsory and payable by a Saa` of dried dates or a Saa` of barley. The Sahaabee, Abu SA`eed al-Khudree said, In the Prophets time, we used to give it (Zakaah al-Fitr) as a Saa` of food, dried dates, barley, raisins or dried cheese. Aqiqah The word Aqeeqah means the the hair of the forehead. It also means the animal that is sacrificed after the birth of a child. Some people call it Nusukiyah or Dhabihah. The purpose of Aqiqah is to give thanks to Allah, to express happiness on the birth of a child, and to announce the birth so that people know to whom the child belongs. Aqiqah is a highly recommended Sunnah (scholars). According to other scholars it is wajib (mandatory). The proper time for Aqiqah is the 7th day (or after), counting from the day of the birth of the child. Parents or grandparents should perform Aqiqah for their children or grandchildren. In some traditions it is said that one should sacrifice two lambs for a boy and one for a girl. But it is not required. One can sacrifice even one for the boy. Prophet Muhammad peace be upon him sacrificed one lamb for Hasan and for Husain. The meat of the animal should be divided like the sacrificial meat at Eidul Adha, one third for the poor, one third for friends and one third for the family. One can also give all the meat to the poor and needy people. Children are Allahs gift. We should be thankful to Him and we should take good care of them. From the beginning we should pay attention to their Islamic upbringing and education. Parents should be a good role model for their children and they should also make sure that their children are learning right values, have right teachers and good friends. Someone rightly said that children are like sponges. They absorb whatever they see. It is very important that we give them the right message. We should also be careful about what they watch on TV and Internet. In Arabic the word Aqiq is also used for a precious stone. One can also say that Aqiqah is a ceremony that helps us realize the preciousness of our children. Salman bin AamirAd-Dabbi narrated that the Prophet (SAW) said, Aqiqah is to be offered for a newly born boy, so slaughter (an animal) for him, and relieve him of his suffering. It is Sunnah to slaughter 2 (or 1) animals for a boy, and 1 for a girl. This meat is then to be shared with all the people in the community. At the time of the prophet meat was scarce. So eating and distributing meat became a special way of celebrating the birth of a baby. Giving something of the wealth over which Allah has given us temporary custody is a critical part of our deen. The Prophet (sas) said: Man yatasaddaqa bi idli tamratin min kasbin tayyibin wa laa yaqbalu Allahu illa at-tayyib fa inna Allaha yaqbaluhaa bi yameenihi thumma yurbeehaa li saahibihaa kamaa yurbiy ahadukum falwahu hattaa takoona mithla al-jabali. Whoever gives in charity the value of a single date from pure earnings and Allah accepts nothing but the pure verily Allah receives it with his right hand then he makes it grow like the way one of you causes a dowry to grow until it becomes like a mountain.(Translation) Muslim Bukhari Sadaqa The meaning of sadaqa is the giving of wealth to another as an act of worship and seeking to come closer to Allah Most High. It is an effective barrier between the giver and evil. It repels trials and hardships and prevents an awful death. All of this is only by the permission of Allah and the giving of sadaqa is the cause which Allah has attached to these benefits. It is also used allegorically to refer to all acts of giving and kindness other than those involving wealth such as giving the greeting, smiling in your brothers face, seeking to solve a problem between two others for no gain to yourself, being attentive to your spouse in your bed and other actions. As the hadith says, giving of your wealth to another while physically between you and another human is an action received directly by Allah Most High. This has also been mentioned in the Quran: A lam talamoo anna Allaha huwa yaqbalu at-taubata an ibaadihi wa yakhudhu as-sadaqaati wa anna Allaha huwa at-tawaabu ar-raheem. Did you not know that Allah is the One who accepts repentence from his slaves and takes their charities and that Allah is the ever-Forgiving, the Merciful. (Translation) At-Tauba:104 Generally, the best way to give sadaqa is in secret, although it can also be done publicly. Sometimes it is actually better to give publicly if that will encourage others to follow suit and increase the amount of giving among the Muslims. Because the Prophet (sas) said: Whoever starts a good practice will get its reward and the reward of all those who do it after him without that decreasing his reward in the least and whoever starts a bad practice will get its sin and the sin of all those who do it after him without that diminishing their sin in the least. Allah said: In tubdoo as-sadaqaati ta niimmaa hiya wa in tukhfoohaa wa tutoohaa al-fuqaraaa fa huwa khairun lakum wa yukaffiru ankum min sayyiaatikum wa Allahu bimaa tamaloona khabeerun. If you show your charitibal giving that is just fine and if you conceal it and give it to the needy that is better for you and it will expiate for you some of your bad deeds and Allah is fully aware of all that you do. Al-Baqara:271 While giving may seem like a growing of ones wealth and putting it in a savings account or lending it out for interest may seem like an increase in ones wealth, the really it is quite the opposite. Allah said: Yamhaqu Allahu ar-ribaa wa yurbiy as-sadaqaati wa Allahu laa yuhibbu kulla kaffaarin atheemin. Allah obliterates interest and causes charity to grow and Allah does not love every one of those extreme in disbelief and extreme in sin. Al-Baqara:276 Sadaqa, to be acceptable must be an act done for the sake of Allah with consciousness that what is being given is not truly yours or something you have earned or deserved. Rather, it is the sustenance (rizq) of Allah and His favor upon you and something which Allah has simply made you the temporary custodian (mustakhlaf) over. It was possessed by others before you and will be possessed by others after you. When one has this consciousness, then they will realize that the receiver is actually giving them a great gift and a great help by allowing them to worship and come close to Allah in this way and not the other way around. So Muslims of understanding will never humiliate or belittle those to whom they give nor feel that they have done them a favor or that the receivers owe them anything like the ignorant and disbelieving do. If one does these things, it shows that their sadaqa is not genuine and it is invalidated and does them no good with Allah no matter how big and generous it may be. Allah said: Yaa ayyuhaa alladhina aamanoo laa tubtiloo sadaqaatikum bi al-manni wa al-adhaa ka alladhiy yunfiqu maalahu riaaa an-naasi wa laa yuminu bi Allahi wa al-yaumi al-aakhiri. O, you who believe do not invalidate your charities with claims of generosity and harmfulness like the one who spends his wealth for the people to see but doesnt believe in Allah and in the Last Day. Al-Baqara:264 Islam encourages the giving of charity, but does not encourage the taking of charity let alone asking for it. Since there are always among us those who need assistance, this means that it is obligatory upon those with the means to look for places to put their sadaqa such those in need never need to ask and seek their help. The Prophet (sas) said: Al-yadu al-ulyaa khairun min al-yadi as-suflaa wa ibda bi man taoolu wa khairu as-sadaqa maa kaana an dhahri ghinaa wa man yastafif yaiffuhu Allahu wa man yastighni yughnihi Allahu. The upper hand is superior to the lower hand. Start with those for whom you are responsible. The best charity is the one which leaves you free of need. Whoever abstains, Allah will dignify them and whoever maintains self-sufficiency, Allah will make them self-sufficient. Al-Bukhari Sadaqa is one of the seven things which will get you shade in the Throne of Allah on the terrifying day of al-mahshar when there is no shade except for the shade of Allah. In the hadith: Sabaatun yudhilluhum Allahu fiy dhillihi yauma laa dhilla illa dhilluhu wa rajulun tasaddaqa bi sadaqatin fa ikhfaahaa hattaa laa talamu shimaaluhu maa tunfiqu yameenuhu Seven who Allahu will shade in His shade on the day when there is no shade except His shade and a man who gave something in charity secretly such that his left hand did not know what his right hand had given. Muslim Bukhari Before you think that your property is little or that you need to receive and not give, remember your standing before Allah. If two Muslims have a little and cling to it thinking I have only a little, then they will get no good deed from their wealth with which to face Allah. If the same two people give something of their minor wealth and, because Muslims are giving they also receive, they may end up with the same or more sustenance but also have a good deed with which to face Allah Most High. Giving is win-win situation! On that day, we will need everything possible to help us. Do not neglect any opportunity to send something forward for that day. Even a tiny act of giving could be the critical item which determines your fate in the eternal hereafter. The Prophet (sas) said: Maa minkum min ahadin illa sayukallimuhu Allahu laisa bainahu wa bainahu turjumaan. Fa yandhuru aimana minhu falaa yaraa illa maa qaddama wa yandhuru ashama minhu falaa yaraa illa maa qaddam wa yandhuru baina yadaihi falaa yaraa illa an-naara tilqaaa wajhihi fa ittaqoo an-naara wa lau bi shiqqi tamratin. There is not one single one of you but that Allah will speak to him with no interpreter between them. He will look to his right and see nothing but what he has sent forth. He will look to his left and see nothing but what he has sent forth. He will look in front of him and see nothing but the fire facing him. So beware of the fire even if with just half a date. Muslim Bukhari Sadaqh e jariyah To spend in the path of Allah Taala by way of helping the Deen of Allah is highly creditable and rewarding. Reward gained through sadaqh e jariyah attains continues reward even after our death. Indeed fortunate are those who have gained such tremendous benefits and Insha Allah will succeed in the hereafter. Some of the common contributions made in this respect are: donations towards the Masjid, building of Madrassahs, printing of Namaz, Yaseen Shareef, Durood and Salaam booklets etc. Undoubtedly these projects are required and should be encouraged because it benefits Islam. Hazrath Abu Hurairah (RadiAllahAnho) has reported the messenger of Allah has said, Among the actions and good deeds for which a believer will continue to receive reward, after his death, are knowledge which he taught and spread, a good son whom he left behind, or a copy of the Quran which he left as a legacy, or a mosque which he erected, or a house which he built for the traveller, or a stream which he caused to flow, or a Sadaqah which he gave from his property when he was alive and well, for which he will continue to receive reward after his death. The above hadith indicates various ways to attain the reward of Sadaqa e Jariyah, and building a House of Allah Taala is indeed one of the best form of Sadaqa-e-Jariyah. Riba/intrest Riba (Usury and Interest): According to Quran and Sunnah Riba (Usury) is of two major kinds: Riba An-Nasia Interest on lent money Riba Al-Fadl Taking a superior thing of the same kind of goods by giving more of the same kind of goods of inferior quality, eg, dates of superior quality for dates of inferior quality in great amounts. The definition of Interest, the literal meaning of interest or Al-Riba as it is used in the Arabic language means to excess or increase. In the Islamic terminology interest means effortless profit or that profit which comes free from compensation or that extra earning obtained that is free of exchange. Riba has been described as a loan with the condition that the borrower will return to the lender more than and better than the quantity borrowed. Due to the trend of interest money is going from the poor to the rich, whereas the rich are supposed to give money to the poor. Consequently, the rich are getting richer and the poor are becoming poorer. Islam completely prohibits interest as it clearly states in the Quran: O you who believe, do not take interest, doubling and quadrupling, and keep your duty to Allah, so that you may proper. Conclusion Overall, I feel that it is a fact of life that poverty exists and no being can deny this fact and say that there is no poverty in the world. As Allah has created poverty he has also created enough wealth to support the poor, and needy. Allah has gave wealth to some people and poverty to some both are a test from god, the one who is likely to succeed is the one who gives his extra wealth to the needy if he is wealthy or the one who is patient and keeps faith in god if he is poor. The system of usury has been introduced in to the world but Islam says whoever restrains from usury and earns and spends his wealth loyally to Islam and pays zakah will indeed succeed in the next life.

Characteristics Of Autocratic Leadership Business Essay

Characteristics Of Autocratic Leadership Business Essay In an autocratic leadership style, the person in charge has total authority and control over decision making. Autocratic leadership is an extreme form of transactional leadership, where a leader exerts high levels of power over his or her employees or team members. People within the team are given few opportunities for making suggestions, even if these would be in the teams or organizations interest. The autocratic leadership style is best used in situations where control is necessary, often where there is little margin for error. When conditions are dangerous, rigid rules can keep people out of harms way. Good fits for Autocratic Leadership are Military, Manufacturing and Construction Characteristics of Autocratic Leadership Little or no input from group members Leaders make the decisions Group leaders dictate all the work methods and processes Group members are rarely trusted with decisions or important tasks In change management, this theory is successful during the emergency and necessary actions where is no chance of mistakes this is useful only in those areas where only orders and instructions are given e.g. military, constructions etc. Participative/Democratic Theory The democratic leadership style is a very open and collegial style of running a team. This theory suggests that the ideal leadership style is one that takes the input of others into account. These leaders encourage participation and contributions from group members and help group members feel more relevant and committed to the decision-making process. In participative theories, however, the leader retains the right to allow the input of others. Group members feel engaged in the process and are more motivated and creative. In this theory, ideas move freely amongst the group and are discussed openly. Everyone is given a seat at the table, and discussion is relatively free-flowing. The people have a more participatory role in the decision making process. Levins study found that participative leadership, also known as  democratic leadership is generally the most effective leadership style.   The basic ideas behind participative theory of leadership can be summoned as follows: Everyone Participate New ideas are thrown about Decisions becomes more-oriented Leaders can assess the worth of their policies A progressive approach In change management, under this style of leadership leader need to be participate in the task which going to be achieved within the organization with team members to motivate and encourage them towards the goal. Transformational Theory The concept of transformational leadership was developed by James Macgregor Burns  [1]  (Burns, 1978). According to Burns, transforming leadership is a process in which leaders and followers help each other to advance to a higher level of morale and motivation. In transformational leadership various mechanisms are used to boost employee morale and motivation. The following list explains some of the mechanisms used. Please note that following list is not exhaustive, many more mechanisms are used and I am listing a few (Wiki-transformational, Ret. 2007): Integrating individual goals with the organizational goal, it is to create a sense of belongingness; it also includes connecting ones identity to the collective identity of the organization. Depicting leader as a role model so that the entire followers can follow him, having a common role model also helps in creating common paths to follow. Followers are challenged to take greater ownership of their work; this also includes techniques like constructive criticism. This also promotes the concept of taking liability of your actions in both positive and negative way. Leader is made responsible for aligning and optimizing the employee performance by measuring their strengths and weaknesses. In change management, under this style of leadership, leaders encourage and motivate the employees in such a way that they perform at their best to achieve more than the desired or set goal. Transformational and Transactional While there are many different approaches and theories of leadership, Transactional and Transformational are compared the most, so based on my research online, here is my attempt: Transformational VS Transactional Objectives are achieved by moral values and higher ideas Objectives are achieved by rewards and punishments set by the leader Proactive leadership Responsive leadership Individualized Consideration Management by Exception Motivation is achieved by promoting group interest and team work spirit Motivation is achieved by promoting self interest 1.3 Leadership role models I would like to be a transformational leader, so would be listing two transformational business leaders Dr. Vijay Malaya Mr. Rahul Bhatia Leadership profiles DR. Vijay Malaya Dr. Vijay Malaya is currently of 56 years old and living in Kolkata, West Bengal, India. He got residency of India and Australia. He completed his Bachelor of Arts and science from Calcutta University. His all the property was inherited and grooming day by day. He is the brand ambassador of himself and prefers the belief to knowledge and talent. He always tries to focus on team presentation and how much experience they have got. His living standard is very high profile and social able. He got high ambitious person and very dominant nature. Because of his autocratic leadership style his company is booming. He got aggressive behavior because his all normal talks are with general manager of the company. He is from one of the irregular and late leaders. He always wants fully attention on work from his staff. He has no emotions for his employees. Because his policy is to whenever any of his employees had said no to work, he fired his/her. In his company hiring and firing is frequent. Ther e are less chances of promotion in his company. There are less salary incentives as well in his company. He got strong position in politics as well, with the help of this power; he is getting high name and fame. Moreover, he has keen interest in sports as well. He is the owner of Royal Challengers Bangalore, an IPL cricket team. He also formed a Sahara force India formula one team. Furthermore, by reading his image, it is shown that he is very straight forward leader, who doesnt wait for others to start. In simple words, Vijay Malaya do everything is of his own choice, he leads team in very formal way. He doesnt have any emotions for his employees. Change Management Under his leadership, he made a big change in his company. His company is getting name and fame. He expands his company from low level to high level. He started kingfisher airlines. Before him according to survey, the kingfisher was on 32nd rank in the world, but after him, kingfisher got the 19th rank among another companies. Mr. Rahul Bhatia Mr. Rahul Bhatia is also in his 60s. He was born in Bentwal, Karnataka. He completed his studies BS in electrical engineering from university of waterloo, Canada. Currently he is living in Delhi, India. After completing his studies, he worked with IBM. Then he realized to setup his own company Indigo. He believes in diligence, future mindedness, transparency in work. He is democratic leader. He always gives chances to others to perform. Because of his positive attitude, his company is shining day by day. He always brings forward good talent. Mr. Rahul Bhatia always tries to keep his focus on good team performance. He believes in simple living and high thinking. He is very punctual in his life and always set goals to be targeted. He has seen some difficult period for his company, but he paid salaries and bonus to each worker time to time. He is continuously learning and trying to develop the leadership style. He is really a very good leader and task oriented. He respects the voice of his employees. He has promotion policy in his company and always promotes the good talent. Change Management He started indigo as a private low cost carrier based airline. But Rahul Bhatia put his a lot hard work in indigo, so thats why it was the only airline in India making profits by the end of March, 2012. It became the Indias largest airline in terms of market share. Comparison between Dr. Vijay Malaya and Mr. Rahul Bhatia: Sr. No. Autocratic Style Participative/Democratic Style Dr. Vijay Malaya Mr. Rahul Bhatia 1 He is only one to make decisions. He tries to use the decision made by majority 2 He doesnt have any confidence on employees. He lets other coworkers come forward and show the ability. 3 He is rude to his employees and for mistake; he got only one punishment of firing. To establish goals though employees and help them to work hard to achieve goals. Benchmarking criteria For setting up of benchmarking criteria, I will be using participative leadership approach. I will be listing qualities of this leadership approach as a benchmarking framework for my own personal development. Participative leaders have a very high degree of self-confidence- I see it as an essential element of my personal development benchmarking because I think every leader must have self-confidence. If you believe in yourself, only then you can convince others to believe in you. Almost all participative leaders have high sense of Social Responsibility- it is important as it lays the basic draft plan for you to be socially responsible. Remember your followers also form a part of society, which makes it even more viable for a leader. Participative leaders focus on Individualized Consideration- it is important as not all employees are same, some can perform exceptional but just need an extra push. Transformational leaders have a proactive approach- It helps to achieve higher employee morale and integrates personal and organizational goals. So we can sum out the basic criteria I described in Benchmarking criteria as follows: High degree of self confidence Social responsibility Individualized consideration Proactive approach 2. Self-Assessment 2.1 Benchmarking Potential analysis is a benchmarking tool that not only compares your performance with benchmarks but also tells you the deviation. Deviation is basically the difference you need to make up in order to achieve your desired benchmark  [2]  (Mgmt, Ret 1999). Lets analyze our set standards in benchmarking criteria with my own performance: A1 A2 A3 A4 A5 B1 Tests Benchmarked Figure My Own Deviation B2 Degree of self confidence 5 2 3 B3 Social awareness 5 2 3 B4 Individualized Consideration 5 1 4 B5 Proactive approach 5 2 3 A2 Tests are the key elements which are to be compared in Potential Analysis A3 Benchmarked figures are the highest total which can be attained in a relative operational environment. A4 is the actual measures of my own assessment in terms of Tests (figures here are calculated from the surveys completed) A5 Deviation is the difference of comparison between benchmarked figure and the actual figure. This is the difference we need to cover up in order to achieve benchmarked results. Reflection I like to prefer participative leadership style. As I came from well-educated Indian family I have enough knowledge about what qualities needed to be a good leader. My father always asks our opinions if he is going to make some major decisions that bring changes to our family. I am working in such environment where the leaders are totally participative and encourage all the time to take parts in decision making process by asking our views. According to me this leadership style is well suitable for me because I can encourage and motivate others to participate with their full extent. This encouragement enables team members to play major part in decision making process which makes their performance better. I can guide as mentor to help them in achieving their goals. I need to develop proactive approach towards leadership. Responsive approach like transactional is mostly used in crisis management. 3. Personal Development Plan Opportunities Rationale strategies Timeframe measures measures My short goal is to become the manager in my organization I have chosen this goal because after completing my (level 5) in business I will become valid for the manager position. After completing my course I will take 3 months training for the clerical work done in the organization. I have to take my leadership I need 2 year more to get it to that position because at present I am working as a supervisor If I get a good feedback working in the office from the manager that will be my measure to be there on that position The main resources I need for this short term goal is to complete my diploma in business management (level 5) As my long term goal is to be the area manager of my organization I have chosen this position because I have a good power of motivation and convincing power also as I have a very good leadership style so thats why my goal is to be the area manager of my organization For this goal I need a very good communication skills to attend the big meetings or to the customers so I will take English class and also I will go for the further studies in the business field( level 6 )and( level 7) So to get this major position in my organization I need four to five years of time because my studies will take two years more and I have to get more experience and to achieve a clear vision. In this goal the measures will be my studies if I will be able to complete my studies then I will get my good skills and knowledge .other measures will be the right decision taken as manager of the organization start from today . I need more money to get well education of the relating to my field , I need the time and in that time the decision made by me should be valid , need more skills My another and the dream full goal is to be the successful businessman in new Zealand and being as a very idol leader for the others so that anyone can give good example about me . Because it is my dream that I should be in the list of successful businessman in New Zealand And a very good person to the people as well because success is nothing if we dont have respect in the society. I will go for the further studies and have to learn the big terms the leader should have like, self-confidence, risk taking, great vision, positive attitude, less negative points, great motivation quality. As I have this very big goal in front of me is very difficult but not the impossible it needs probably 10 more years to be their because new Zealand successful business is a big term itself ,and need this period also to get immense experience and great knowledge and very good education as well and more importantly the focus s As I have told my short term and long term goals the success in these goals and in the given time period will be great feedback to me .and if I will be successful in making myself more vision able but with the hard work that would be a good measures for me that I am going in a right way . There are many resourcing that I need in this goal to achieved I need good amount of time to get work on each step

David Gauthiers Answer to Why Be Moral :: Argumentative Persuasive Essays

David Gauthier's Answer to Why Be Moral ABSTRACT: In this paper I argue that David Gauthier’s answer to the Why be moral? question fails. My argument concedes the possibility of constrained maximization in all the senses Gauthier intends and does not rely on the claim that it is better to masquerade as a constrained maximizer than to be one. Instead, I argue that once a constrained maximizer in the guise of "economic man" is transformed through an affective commitment to morality into a constrained maximizer in the guise of the "liberal individual," then a purely rational justification for morality must become invisible to the latter. If I can show this, then I can show that rational justification can have no motivational power for the "liberal individual" and that Gauthier fails to answer the problem of moral motivation. I begin by making what I take to be a crucial distinction. This distinction separates two levels at which a contract theory may operate. At the first level the contractarian theory is directed at the question of moral motivation. That is, it takes the idea of agreement to be the source of motivation to be or become moral. The agreement thus serves to bring into the moral domain agents who, prior to the agreement, were not moral agents. At the second level the contractarian theory is directed at the question of the content and justification of our most general normative principles and values. That is, it takes the idea of agreement to be the source of both content and justification. For convenience I will describe a theory which is contractarian at both levels as complete, and a theory which is contractarian at only one level as partial. The problem of moral motivation, when understood as a problem of enticing non-moral agents into the moral domain, is a specific problem only for a contractarian theory which is complete or which is partial at level one. A contractarianism which is partial at level two has no special obligations, qua contractarian theory, to answer the Why be moral? question. In other words, such a theory does not offer, and does not aim at offering, a contractarian answer to the Why be moral? question since it is not concerned with moral-non-moral distinction. The early Rawls (1971) and Gauthier (1975,1986) both offer complete theories, while the later Rawls (1980) and Thomas Scanlon (1982) offer theories which are partial at level two (I will drop the ‘at level two': this can be assumed unless I indicate otherwise).

Radio Frequency Identification (RFID) Essay -- Radio Frequency Identif

The innovation of the RFID chip or the Radio Frequency Identification has been a critical piece of technology that has been around since the early/mid 20th century (est 1938). Functions of a radio frequency identification (RFID) tagging system involves a tag and a reader. When scanned, the antenna within the tag picks up the radio wave and sends a response back to the reader. This technology is being used for both short range and also long range identification, in the short-range identification category, this innovation is used in practical applications like credit cards (pay wave, tap and go ect...), animal identification (domestic pets, farm animals). The long range applications of the RFID chip is used in aeroplanes to bounce back a signal to radio control signifying their plane identification, the long range application of the chip is used in many other systems for similar purposes. the RFID chip is used all around the would and has and is readily available for the past few decades. The RFID chip is used by many agencies including federal agencies and also used for municipal and state and also local agencies. E.G.. RFID for Federal Agencies * Border and Immigration Security * Cargo and Container Security * Food and Cold Chain Safety (Product Authentication and Temperature Tracking) * Livestock & AgricultureTracking * Military Personnel Relocation Services * Military Supply Chain (Supply chain Shipping, * Receiving and Logistics) * Pharmaceutical Track and Trace Trusted Traveler Control Systems aeroplane tracking/ID RFID for Municipal and State and Local Agencies * Asset & Inventory Control * Firefighter Locationing /Emergency Service Personnel Locationing * First Responder Evacuation Services * Lib... ...lter, 2001, pp. 445--456) Motorolasolutions.com. 2014. RFID Government Solutions - Motorola Solutions USA. [online] Available at: http://www.motorolasolutions.com/US-EN/Business+Solutions/Industry+Solutions/Government/Airports+and+Seaports/RFID_Government_Solutions_US-EN Wikipedia. 2014. Radio-frequency identification. [online] Available at: http://en.wikipedia.org/wiki/Radio-frequency_identification [Accessed: 11 Feb 2014]. Wikipedia. 2014. Digital Revolution. [online] Available at: http://en.wikipedia.org/wiki/Digital_Revolution Wikipedia. 2014. Near field communication. [online] Available at: http://en.wikipedia.org/wiki/Near_field_communication Idtechex.com. 2014. RFID Forecasts, Players and Opportunities 2012-2022: IDTechEx. [online] Available at: http://www.idtechex.com/research/reports/rfid-forecasts-players-and-opportunities-2012-2022-000322.asp

Salinity Changes :: science

Salinity Changes I chose to experiment with the effects of salinity changes on the polychaete, Nereis succinea. Along with the other members of the group, Patty and Jeremy, I was curious to see whether the worms would engage in adaptive behavior when placed in a tank of water of foreign salinity, or whether they would simply continue changing osmotically until they reached equilibrium with the environment. The first step in our experiment was to simply observe the worms and get a "feel" for the ways in which they act. We did this on Wednesday, May 7, 1997 from 9:30am to 10:30am. Also on this day we learned how to mix and measure salinity, practiced weighing the worms, and deciding our exact schedule as far as when we would come in and for how long, etc. From what I observed, the polychaete is a salt-water worm that has adapted to live in estuaries. We kept the control tank at 20 parts per thousand to 24 parts per thousand, and the worms seemed very content and healthy at that level. The worms on which we experimented ranged in size from approximately four inches to approximately six inches. They weighed from 1.8 grams to 4.6 grams at the beginning of the experiment. They have a pinkish, almost salmon color to them, and on two opposite sides, they have these crimson hairs lined up in a row, stretching the entire length of their bodies (the hairs are less than an eighth of an inch long). If we were to call the two lines of hair "east and west", then on the "north and south" sides, there were dark lines that also stretched the entire length of their bodies. These were their primary blood vessels, and though we tried to locate the pulse that is supposed to conspicuously travel up and down this vessel, we were not able to locate it, exce pt once on one worm for less than 30 seconds. Also I often was not able to tell the difference between the head and the tail. Their actions were very basic. They seemed to like to stay still for the most part, hiding underneath the little bit of seaweed we put in the tank. We also put a glass tube at the bottom of the tank, thinking that they might try to crawl in there for safety, but we never saw them in there.

The Vicks business in India

1. 0 Name and description of company for which marketing plan is being developed. A brand of Proctor & Gamble (P&G), Vicks is India’s No. 1 Cough & Cold Brand. It created the cough & cold Over-the-Counter (OTC) category in India way back in 1952 and has led the category till date. Today it has completed almost 60 years in India. Its current portfolio in India comprises Vicks Vapor, Vicks Cough Drops, Vicks Action 500 Extra, Vicks Inhaler and Vicks VapoCool. Vicks has been rated as the #1 cough & cold brand trusted by doctors. The Vicks business in India is the biggest in the ASEAN-Australasia-India (AAI) region and the second biggest in the world after USA. Over the years, Vicks has launched several heart-tugging advertising campaigns, some of which were – the ‘Happy Birthday Mummy’, ‘Touch Therapy’, ‘6 symptom’ campaigns for Vicks VapoRub, the ‘Khich Khich Dooor Karo’ ad for Vicks Cough Drops and the ‘Haan Bhai Haan’ ad for Vicks Action 500. All variants of Vicks have continued to be consumer favourites over the years 1. 1 HISTORY. In 1890, pharmacist Lunsford Richardson took over the retail drug business of his brother-in-law Dr. Joshua Vick, of Greensboro, North Carolina. [1] After Dr. Joshua Vick saw an ad for Vick's Seeds, Lunsford Richardson began marketing Vick’s Family Remedies. [1] The basic ingredients of the range included castor oil, liniment, ‘dead shot' vermifuge. [1] The most popular remedy was Croup and Pneumonia Salve, which was first compounded in 1891, in Greensboro. It was introduced in 1905 with the name Vick's Magic Croup Salve and rebranded as VapoRub in 1912 at the instigation of Smith Richardson, Lunsford's oldest son[1]  ; Smith had gained valuable sales and marketing experience while working for a period in New York and Massachusetts after attending college. Smith Richardson assumed the presidency of the company in 1919 upon his father's death. The flu epidemic of 1918 increased sales of VapoRub from $900,000 to $2. 9 million in just one year. In 1948, Edward Mabry became president of Vicks (the first outside the Richardson family), then known as the Vicks Chemical Company. In 1985, it was sold to Procter & Gamble and Procter & Gamble has since marketed the product as â€Å"The only thing more powerful than a mother's touch. † The company archives (including related personal records of the Richardson family) from at least about 1920 or so, up to the 1985 sale to Procter & Gamble, are housed at the University of North Carolina at Chapel Hill. 1. 2 Products offered by the company: VicksVapoRub-Is a Decongestant Vaporizing Ointment for topical use. – Ayurvedic medicine. Vicks CoughDrops-Is a Cough Drop that provides relief from throat irritation. Ayurvedic medicine. VicksAction500Extra-Is a Colds Medicine for relief of multiple cold symptoms such as blocked nose (nasal congestion), headache, bodyache, sore throat pain and associated lethargy. Vicks Inhaler- Inhaler for a feeling of relief from stuffy nose. Ayurvedic medicine. It is easy to carry in a pocket or purse. Provides fast and temporary feeling of relief from stuffy nose. Inhale deeply to make breathing feel clear and cool. Vicks VapoCool-This is the latest offering from Vicks in India. Launched in Oct 2011, it is a new premium throat drop specially formulated to provide 2 way relief which soothes the throat and relieves blocked nose at the same time. It is currently available in two flavours viz. Menthol & Peppermint. 2. 0 Description of product for which we will develop marketing Plan Vicks VapoRub vicks vaporub ointment is a mentholated topical cream manufactured by Vicks, intended to assist with minor medical conditions that temporarily impair breathing, including the common cold. It is applied to the chest, often immediately before sleeping. VapoRub is currently manufactured and packaged in India and Mexico. In Germany it is sold under the name WICK VapoRub. Vicks VapoRub has endeared itself to the Indian consumer and finds its place in every Indian home, due to its proven performance over the years against cold. Vicks VapoRub provides safe and effective multi-symptom relief from the six symptoms of cold, namely – blocked nose, cough, body ache, headache, muscle-stiffness and breathing difficulty due to cold. The medicinal properties of Vicks VapoRub’s natural ingredients – Nilgiri (Eucalyptus Oil), Pudina (Menthol) and Kapoor (Camphor) provide effective relief from these six symptoms of cold. Vicks VapoRub is available in four pack sizes of 50gm jar, 25gm jar, 10 gm dibbi and a 5 gm dibbi. 3. 0 Objectives of the marketing plan for which you will develop a marketing plan. Our objective is to set an alternate strategy to * Provide reinforcement of the product as it has already at maturity stage of PLC. * Increase the market penetration of vicks vaporub . The total business of Vicks Vaporub depends upon the winter season. If there is no winter, there is no requirement of any product of Vicks, therefore another objective of the marketing plan would be to increase market share by the winter of 2012 from the existing market share. 4. 0 List of specific background information needed to complete the plan * We have to determine current market share of vicks vaporub through secondary data analysis. * We have to determine the current strategy followed by vicks vaporub in India? We will try to find out Potential demand for vicks vaporub in the market * Core competencies of vicks vaporub * We will try to identify who are the direct and the indirect competitors for our product. * What are side effects by vicks vaporub and the methods to tackle it? * How the communication strategy vicks vaporub is has in India? * How is the current distribution channel vicks vaporub has in India? * Identify if a change is required in current pricing strategy? * SWOT analysis of vicks vaporub ? 5. 0. List of possible information sources to answer each questions listed in 4. 1. www. vicks. co. in 2. www. ijrcm. org. in International Journal of Research in commerce, IT and Management.VICKS VAPORUB – MOTHER’S TOUCH THERAPY: A CASE STUDY-by RAJNI KAMBOJ 3. http://books. google. co. in/books Brand Positioning: Strategies for Competitive Advantage -by Subroto Sengupta 4. We w ill try get more information by data collection and analysis through personal Interview as well as survey. 6. 0 List of activities/tasks necessary to complete the marketing plan. secondary data analysis * questionnaire preparation * data collection * Use of various statistical tools for the data analysis * Finally we will formulate a Strategy based on the analysis and interpretation of the results of the above activities. Sr No. | Topic | Page No. | 1. 0| Name and description of company for which marketing plan is being developed| 1| 1. 1| History| 1| 1. 2| Products offered by the company| 2| 2. 0| Description of product for which we will develop marketing Plan| 3| 3. 0| Objectives of the marketing plan for which you will develop a marketing plan. 4| 4. 0| List of specific background information needed to complete the plan| 4| 5. 0| List of possible information sources to answer each questions listed in 4. 0| 5| 6. 0| List of activities/tasks necessary to complete the marketing Plan | 6| 7. 0| Estimated time table for completion of all activities| 7| | | | 8. 0| Mission| 8| 9. 0| Macro Environment| 8| 10. 0| Industry Analysis| 11| 11. 0| Competition| 14| | | | 12. 0| Market Segment| 22| 13. 0| Target Segment| 23| 14. 0| Positioning| 23| 8. 0 Mission 8. 1 Mission Statement We will provide branded products and services of superior quality and value that improve the lives of the world's consumers. As a result, consumers will reward us with leadership sales, profit, and value creation, allowing our people, our shareholders, and the communities in which we live and work to prosper. 8. 2 Principal objectives for starting the business. Vicks cares about people, whether they are ill and trying to get better,  or well and trying to stay that way. So we create respiratory products and services that treat the symptoms and nurture the body. . 0 Macro Environment: 9. 1 In what ways will changes in the general levels of national economic activities affect your business over the next three to five years? * The Indian economy is emerging with remarkable rapidity from the Slowdown caused by the global financial crisis of 2007-09. * Backed by a rise in the domestic savings and investment rates, a revival of growth in agriculture and resilience in the manufacturing an d services sector, India has displayed a great recovery post the global slowdown. * However, persistent inflationary environment remains a Big challenge. The rise in demand coupled with strong supply bottlenecks is a catalyst for inflation * If the GDP goes higher and the purchasing power of the lower and middle class increases, there might not be a shift of preference of Vicks product because most of Vicks products have low prices. Our Product is usually basic need; it does not give you the sense of pride or usage glamour. So there might be one bottle in every house hold but the sales of Vicks will not increase much, unless they take up serious rejuvenating action on the brand and its 4 p aspects. Since Vicks is not a costly product the general level of economic activities will not have a very big impact on the sales of the product. 9. 1 Will changes in your local economy affect our business? Factors such as tax increase or fuel price fluctuation will affect the business or allow competition to creep in ,However Vicks has tackled such problems in the past by considerably reducing its cost of marketing and distribution. Moreover the loyal customers will still buy it not only because it is comparatively lesser priced but because they know it is quality, best value for price the pay to buy it. . 2 Do you foresee any competitors from overseas? The threat of competitors from overseas is very low because there are already many products in this sector by the same company and it is not easy for the outside competitors to come and take the market share because the maximum market is taken by products from Vicks like Vicks vaporub, Vicks action 500 etc. and the trust that is already built by these products is not easy to be break. We don’t see any competitors from outside into this industry. 9. 3 The legislations that will affect your business. OTC Drugs' in common jargon means drugs which are legally allowed to be sold Over the Counter without the prescription of a Registered Medical Practitioner. The term is clumsy and creates a wrong impression about the official status of the drugs. In India, import, manufacture for sale and the sale and distribution of drugs and cosmetics is regulated by the Drugs and Cosmetics Act, 1940 and its subordinate legislation Drugs and Cosmetics Rules, 1945. The phrase ‘Over the Counter' and its abbreviation ‘OTC' preparations have no legal recognition and are better referred to as ‘non-prescription drugs' and/or as ‘household remedies'. . 4 Will demographic changes affect your business? Age: Initially Vicks was targeted on children’s but later on company found it used by adults as well. Sinus patients also are targeted customer. Income: Since the product is not so costly so income doesn’t play major role in the purchasing the product. Vicks Vaporub is of fered in 5gm -50gm dibbi to cater to the needs across all segments of the society. Gender: Both Male and females can use the product Location: Certain geographic locations such as Colder regions, high altitude or hill stations will also have more have an effect on sales of Vicks Vaporub. 0. 0 Industry Analysis: 10. 1 Potential rate of growth of national industry. According to a survey done by ORG IMS estimate the OTC market in India would show rates of about 10-12%, of the entire OTC market the segment for cough, cold and fever show the least of about 1%. 10. 2 Ease of entry of new firms into industry. Industries vary with respect to the ease with which new sellers can enter them. The barriers to entry is one of the advantage Vicks Vaporub has already established in an industry that has a potential entrant. Such a barrier is generally measurable by the extent to which established sellers can persistently elevate their selling prices above minimal average costs without attracting new sellers. The economics of this industry is in such a way that new entrants would have to be able to command a substantial share of the market before they could operate profitably. 10. 3 Intensity of Competition among firms Vicks Vaporub already commanding a superior share of market, intensity of competition is considerably low. Moreover the constituents and benefits of the competitor products being almost the same. 10. Degree of product substitutability. It can be easily substituted since even the competitors products constitutes almost similar formula and act on similar symptoms ,Moreover it could also be substituted by Ayurvedha or allopathic remedies or homemade remedies. 10. 5 Degree of dependency of complementary or supporting products. Increased demand from pharma and other consuming industries mainly have been the cause for the recent increase the prices of menthol which is a major ingredient of Vicks Vaporub . The increased prices of Menthol will surely have affect on the cost of production of Vicks Vaporub. 0. 6 Degree of bargaining power This ‘over the counter’ medication is always a seller market as the customers won’t go for any bargaining for over the counter products. And the vicks loyalists don’t have any complaints about the accessibility or affordability of their favorable brand – a boon in the extremely price sensitivity Indian market. The product vicks has a very good bargaining power as it is doing good in the market by satisfying the consumer expectation. 10. 7 Technological sophistication in industry. * Vicks is coming up with various technologies in packaging. Today people look for one product with various benefits other than individual products for different problems and their lies the success of medicated treatments. * These products are used for the cough, headache and throat pain and so the products should be designed very carefully with improved technology. * There are various products coming in the market and there are various biotechnologies coming up which is still a nourishing the industry. 10. 8 Rate of innovation in the industry. Rate of innovation is very low since the constituents of the products are more or less similar from the time it had been launched. Sales of Vicks Vaporub mainly depend on advertisements and promotions. 10. 9 General level of Management capability? * Mr. S. Khosla has been Managing Director of Procter & Gamble Hygiene & Health Care Limited since June 1, 2007 and also serves as its CEO. * He is a B. Tech (Mechanical Engg. ) with a post graduation in Business Management. * He has been with P&G since 1983 and was leading the AAI Health Care Global Business Unit and Special Global Projects. He has over the period gained valuable †¦ experience of overseeing P&G's international business in UK, Malaysia and Japan. Mr. Khosla serves as a Member of Advisory Board for India at Catalyst Inc. * He has been Additional director of Gillette India Limited since December 31, 2005. * He serves as Member of the Board of Governors at Advertising Standards Council of India. Mr. S. Khosla is very valuable to P&G ,he is been with P&G for the past 29 years and is the right person to lead both as a CEO of the company as well as Mana ging Director. He been rated among top CEO’s of our country in survey by The Economic Times. 11. 0 Competition 11. 1 Structure of our market. The Vaporub segment in the market is dominated by Vicks Vaporub in India. Vicks commands a market share of over 60% in the cold balm/rub category. This industry is already saturated and vicks already being a dominant it has few competitors on cold/rub market, mainly zandu balm and Amrutajan. however it has also lost a small amount of share to some of the unbranded products aswell. 11. 2 Comparing our product with that of the competitor based on the following parameters such as: A) Quality: Ratings with respect to competitor: -3-2-10+1 +23 Vicks Vaporub has endeared itself to the Indian consumer and finds its place in every Indian home due to its proven performance over the years against cold. The constituents of Vicks vaporub are natural ingredients such as eucalyptus Oil, Menthol and camphor which are safe for external application as a regular basis and provides relief from the symptoms of cold. B) Reputation in eyes of the customers: Ratings with respect to competitor: -3-2-10+1+2+3 Being product from a reputed company such as P & G, Vicks has gained its share of reputation in the eyes of the customers. In a consumer research conducted by P & G and market research firm NFO-MBL(National Family Opinion-Market Bureau Ltd. )consumers rated Vicks Vaporub comparatively higher on parameters such as ‘Fast Relief’ and ‘Long Lasting Relief’. In addition ,they also rated Vicks Vaporub significantly better on key product attributes stating that it is ‘less Greasy’ and ‘Smells Beter’ and almost 89% of the respondents rated Vicks Vaporub as ‘Better than any cold rub ever used C. Prices: Ratings with respect to competitor: -3-2-10+1+2+3 25ml Box of Zandu Balm costs Rs. 0. 00, However 25 ml box of Vicks cost just Rs38. 00, It’s is very evident that Vicks is priced comparatively very lower to its nearest competitor. D) New products launch/development: Ratings with respect to competitor: -3-2-10+1+2+3 There is no plans of launching new product from Vicks as of now and also Zandu has no plans of releasing any new product in the pain reli ef segment ,however they have launched a wide variety of products in category of general health either in the form of tablets or Syrup,which posses no threat to our product. 1. 3 What exactly do you think makes your succesful competitor successful? This question does not apply since we dominate the market by 60%. 11. 4 Identification of the main competitors. Its main competitors are Emami’s Zandu balm having a market share of 27% and amrutanjan with 10% share; however the rest of the share is occupied by other branded and unbranded competitors. Therefore Zandu balm is our major competitor although Zandu Balm is not meant technically understood as a part f the Vaporub Segment yet because of similar characteristics it does compete with Vaporub products in areas and thus it has to be provided for as a competitor in the Vaporub segment. 11. 5 Main competitor’s principal weakness. Principle weakness of Zandu balm is the high price and also a Balm is being positioned in consumers mind has stronger and therefore preferable only for adults. Whereas Vicks Vaporub which was positioned as rub for the child’s cold from the beginning has crept into evry household and is also being used by adults since then. 11. Do you anticipate any new competitors coming into your market in the near future? As it this Cold/rub segment of the market has already reached the maturity and more over Vicks Vaporub is dominant in this market with few competitors,its is very difficult for new entrants, As of now there is no anticipation for new c ompetitors. 11. 7 Changes in the competitive approaches our has major competitor made in the last 12 months. There is no such changes in the competitive approaches of Zandu balm, more over this product can be used promoted anytime in the year unlike Vicks Vaporub 11. How do you regularly track major competitors’ activities? The competitors activities can tracked through: * Websites-look at its home page to see if they have made changes to the way they describe their products and services. * News Columns * Trade Shows/Event Sponsorship 11. 9 The reasons customers buy from us:- 1. They want to feel better: * Alleviate symptoms from 4 primary conditions * Cure to cause 2. Low price sensitivity: * Generics are 30%-50% cheaper and have less than 10% share * There is perceived differentiation: this reduces customers’ price sensitivity 3. Convenience * Purchase from nearest store. 1. 10 The Buying process adopted by different customers you cater to? Its can purchased from nearest retail or medical store. 11. 11 Is there seasonality of buying your product(s). Yes our product thrives on seasonality. At the time of its launch vicks Vaporub had been promoted mainly as a winter remedy and had been pushed mostly in winter, simply because the incidence of cold was greatest in that season However later on research showed the people were equally susceptible to colds in the monsoon, Therefore to tap this opportunity, Vicks vapoub was also recommended as remedy for â€Å"monsoon cold†. 1. 12 How customers use the product? VapoRub can be applied to the chest or throat (for congestion relief)or back or to sore muscles (to increase circulation). (For external use only) Market Segmentation: Dividing a market into smaller groups with distinct needs, characteristics, or behaviors who might require separate products of marketing mixes. Variables that might be used in segmenting consumer markets are geographic, demographic, psychographic and behavioral. What basis of Segmentation does P&G use to differentiate the Vicks? Geographic segmentation: Proctor and Gamble have existence in 80 countries worldwide where Vicks have its market and these includes countries from North and South America, Europe, Middle East, Asia and some countries of equatorial region. Pakistan, China, India and Russia are the major countries of Asia where proctor and gamble sold Vicks. Demographic Segmentation: Age: Vicks is used by almost all ages of people. Gender: Vicks is used by both males and females. Income: People of low income to people of high income can all afford Vicks. Psychographic Segmentation: Person belonging to any social class either he/she is from lower or even he/she is from higher and person of any life style and personality can use Vicks for cough, cold, flu, chest cold, chest congestion and sinus symptoms. Behavioral Segmentation: Vicks are often used by the people on special occasions when they are suffering from cough, cold, flu, chest cold, chest conjestion and sinus symptoms. Target segment: The target market for Vicks Vaporub is children. Knowing that the typical Indian family centered around the child and also realizing that the health of the child was the prime concern of the parent, Vicks Vaporubwas positioned as a rub for the Childs cold. This was felt to be the best way of getting it into the homes. Besides, this meant further distinguishes it from a balm, because a balm was much stronger and therefore preferred for adults, Vicks Vaporub’s Milder Formulation was suited for children. Positioning Vicks of Vaporub: In the early 1950’s when Richhardson Merrel first looked at it ,the balm market in india seemed promising for Vicks Vaporub. Since the†Balm Market† was fairly extensive in India, specially in south india ,the company expected little resistance to the introduction of the product. All that needed was to sell Vicks Vaporub as a balm. At that time balm market consisted of mainly four or five brands with amrutanjan as the accepted leader. The question was whether it should take a plunge against leader? or should it carve out itself a different niche? Whereas in rest of the parts of the world Vicks was positioned has a distinct position in other markets all over the world as â€Å"a rub for cold†. However technically the formula of Vicks Vaporub did not prevent its use as a multi-purpose ointment. The final decision was however to position it as a rub for cold. Though the company realized this definition would limit its use; nevertheless, it decided to go ahead as it would bring the product into sharper focus. Knowing that the typical Indian family centered around the child and also realizing that the health of the child was the prime concern of the parent, Vicks Vaporub was positioned as a rub for the Childs cold. This was felt to be the best way of getting it into the homes. Besides,this meant further distinguishes it from a balm, because a balm was much stronger and therefore preferred for adults,Vicks Vaporub’s Milder Formulation was suited for children. The company also knew that it would be very frustrating for parents when the child could not sleep and lay awake throughout the night . Therefore,while other Balms were used at all the times of the day, Vicks Vaporub was specifically positioned as a rub for a child’s cold to be used in night. Finally Vicks Vaporubwas positioned for use on the â€Å"nose, throat, chest, all over the back, â€Å"and this became the integral part of the Vaporub message. Though the positioning of Vicks Vapourb in india was very similar to whet was being done in other countries,a proper understanding of the Indian environment contributed substantially to the success of Vicks Vaporub. All over the world Vicks Vaporub had been promoted mainly as a winter remedy and had been pushed mostly in winter, simply because the incidence of cold was greatest in that season. This pattern was fallowed in india in the early stages. Later,research showed that people were equally susceptible to colds in monsoon. therefore, to tap this opportunity,Vicks Vaporub was recommended as a remedy for† monsoon cold† a special set of advertisement was built around this â€Å"monsoon cold†(getting wet in the rain,sneezing,cold, etc) RHL attributed the success of Vicks Vaporub in India to proper initial positioning having once introduced Vicks Vaporub into homes by appealing to the parents ‘concerns for the health of their child,its was later recommended for use by adults too. Years later after the product had already established in the Indian household, Brand managers made some modification in the original definition of Vicks Vaporub positioning has a multi-purpose ointment, for obvious reason of broadening the target group, besides research showed that adults were also using Vicks Vaporub,Futher,lay time use was also recommended. Even though some ingredients and attributes of Vicks Vaporub were similar to those of its competitors such as Zandu Balm and amrutanjan, differential advantages was secured through positioning strategy. It was differentiated by: (a) Target user:Child (b) Usage occasion: Colds (c) Manner and time of application: at night, on the nose, throat, chest and back. 15. 0 Product Mix of Vicks: VicksVapoRub-Is a Decongestant Vaporizing Ointment for topical use. – Ayurvedic medicine. Vicks CoughDrops-Is a Cough Drop that provides relief from throat irritation. Ayurvedic medicine. VicksAction500Extra-Is a Colds Medicine for relief of multiple cold symptoms such as blocked nose (nasal congestion), headache, bodyache, sore throat pain and associated lethargy. Vicks Inhaler- Inhaler for a feeling of relief from stuffy nose. Ayurvedic medicine. It is easy to carry in a pocket or purse. Provides fast and temporary feeling of relief from stuffy nose. Inhale deeply to make breathing feel clear and cool. Vicks VapoCool-This is the latest offering from Vicks in India. Launched in Oct 2011, it is a new premium throat drop specially formulated to provide 2 way relief which soothes the throat and relieves blocked nose at the same time. It is currently available in two flavours viz. Menthol & Peppermint. 5. 1 Is your business is dependent on one product or service for over 80 percent of profit. No, our business is not on one product; however our business mainly depends on Vicks Vaporub, Vicks Cough drops and followed by Vicks inhaler. 15. 2 How easy are your products or services to copy? Its is very easy to copy most of products of business, Moreover the product ingredients are well know ayurvedhic constituents. A research study by A. C. Nielsen int roduced that sales of Vicks look-alike products equaled the sales of the genuine brands. P & G initiated action against the manufacturers of look-alike Vicks Vaporub & Lozenges. Thecompany obtained an injunction from the court & with the assistance of court representatives & advocates. It conducted raids on the premise of the fake manufacturer  & sized products valued at Rs. 3. 5 million. These included look-alikes vaporising rubbing marketed under the brand name Vikas cough drops under the name Venus & aMenthol drop under the name Super plus 5 15. What is the extent of product differentiation you have achieved for your range of product/services? Over the years there has been a very minimal product differentiation in it products however Vicks caters mainly to cold and symptoms of it through most of its own products in different forms such as: Vaporub, Inhaler, cough drops, Capsules (Vicks Action 500) 15. 4 What proportion of your product/service range is in each phase of life cycle? The stage through which individual products develop over time is commonly known as â₠¬Å"product life cycle†. All of the products of Vicks has reached the maturity stage and also the industry has reached the maturity phase (i. e. ) most profit is earned by the market as a whole. At this stage Research and Development is likely to be restricted to product modification and improvement and perh aps to improve production efficiency and quality. Product(Industry) Life cycle: All the products and the industry has achieved Maturity. 15. 5 Do your product / services benefits match customer’s needs or are there gaps? List your products features and benefits and compare them to customer needs. First of all our product is not a feature based product, however some of the noteworthy features based on convenience sampling on sample size of 20 here are the results we obtained: Features: Quick Relief Benefits: Helps consumer get rid of cold symptoms very soon. Customer Needs: At time it is very frustrating for a person suffering from cold symptoms such as blocked nose or congested chest,and will be in need for product that reliefs such problems as soon as possible, consumers belive that Vicks helps them in such cases. Features :Quality Benefits: Trust on the product and its benefits Customer Needs: Consumers’ trust on the brand for their value for money and also free of any side affect. Features: Availability (Ease of purchase) Benefits: available at convenience of the customer. Customer Needs: Incase the customer is in urgent need of the product it can be available at the nearest retail or medical store. Such is the distribution channel of Vicks. 15. 6 How important is service, warranty and so on? No question about service or warranty 5. 7 How important is packaging? Packaging is important; however it has remained the same for many years with predominantly blue colour. 15. 8 How is your product perceived in relation to competitive offerings? Yourself(5) Major competitors(5) Price 4 2 Our product is very cheap compared to our major competitor. Eg: 25ml Box of Vicks Vaporub-Rs 38. 00, whereas 25ml box of zandu Balm Rs 70. 00 Performance 4 3 Packaging : 4 ( Attractive) 2 Reliability : 4 (especially for Children) 3 Durability : 4 (Best before 2 years) 3(Best before 18 months) Quality : 4 3 After sales service/ N/A N/A Maintenance N/A N/A Guarantees : N/A N/A Promotion/Advertising: During monsoon and winter Anytime of the year Image : 4 3 15. 9 What product modification and change have your competitors introduced in last one year. Recently Emami ltd. tarted reviving its over-the-counter (OTC) healthcare business under the Zandu brand through brand re-launches and investing in its distribution system, packaging and marketing campaign. Products like popular pain reliever Zandu Balm are being re-launched and price being increased. Pricing: * MRP of vicks vaporub is as fallows * 10 ml: Rs22 * 25 ml: Rs45 * 50ml:Rs 79 A profitable venture of Proctor & Gamble, Vicks Vaporub has established itself as a market leader in Vaporub segment and gives tough competition to certain products in other segments also. The distinct niche it has created in the market is because of the fact that the company realizes its position as a market leader and thus the formulation of policies accordingly. To speak of them, it is important to appreciate its inherent advantage as a Proctor & Gamble product. The fact is that P & G believes in exploiting its resources and putting them to their maximum usage. Their entire marketing strategy is based upon its principle (to speak exclusively in the Indian context) and thus they have only one marketing channel for all its products. This is to say that the same set of dealers for its products who market them all and thus the cost of marketing each product is saved in terms of distribution cost. The distribution channel follows five levels, give in detail below: * Manufacturer (P & G health and hygiene) * Super Distributer * Distributer * Dealer/Retailer * Customer Vicks Vaporub or for that matter no product of Vicks does not have a separate market channel for itself. All products are marketed by one single marketing channel, organized and regulated by one company namely, Proctor and Gamble Hygiene Products Ltd. The commission for each intermediatory is as follows. (i) Dealer – 16% (ii) Distributor – 4% (iii) Super Distributor – 1 – 1. 5% What is here important to note that the person who actually sells the product to the consumer gets the maximum i. e. 16% on the sale of the product The distributor, who makes the goods available to the dealer gets 4% i. e. one-forth of the share of the dealer Also this fact has to be understood in the light of the peculiar fact of the existence of a Super Distributor. In our context, this implies the actual link between the company and the distributors. Generally there are only One or two of super distributors in each state, depending upon the size and demand in the state. These super distributors are bulk distributors and actually account for the market building of Vicks or P & G products as any increase in market share of Vicks or and increase in demand in The market earns them handsome incentives for Vicks. Thus without actually getting into the hassles of dealing with local dealers and distributors, Vicks actually gets a higher share in market by using the area specific knowledge of these super distributors. (3. Another factor in this distribution channel is the presence of hoarders. Now these hoarders are none else but what we call as black marketers they are not specific to Vicks but in general hoard all products in the commodity segment especially the FMCGs. These cause great problems in the assessment of real demand of the consumers and the real consumption of the products. They store the goods in great bulks and lead to art ificial scarcity of products, thus raising the prices. P & G has found an effective reply to this situation by the Designing of their super distributor system. They being aware of the local peculiarities Effectively deal with the hoarding effect and do not allow the company to suffer on these counts. (4. ) The collection of order from the local dealers is a task left upon the MRs (Medical Representatives) who collect orders and report to the distributors, who also employ them for this purpose. The advantage of being an non prescribed drug, the cost of giving samples to the doctors is saved considerably. (5. ) Then again, the segregation of the orders received through MRs and direct orders is considerable. It is estimated that about 50 to 60 percent of the entire supply of Vicks Vaporub is through this MR route. The rest is in the form of direct purchase of the dealers (which comprises a significant portion of the sales volume) from the super distributor. In this manner, they not only gain on the count of the commission of the distributor but also get two fold advantage. First they can negotiate on whole sale prices on account of bulk purchase and secondly they can also negotiate upon the transport and delivery upon their own terms to them by the super distributor. 6. ) That Vicks does not count solely upon its share as a market leader. It is aware of the presence of other competitors and thus it has not remained static in terms of its promotional strategy and has also simultaneously been incumbent upon increasing its market share by indulging into intensive promotions strategies such as free Vicks Inhaler along with Vicks Vaporub, discounts, 20% extra on each pack of 50g. Each and oth er offers. Thus it has constantly tried to lure the consumers to stay with it while penetrating the market in to deeper. (7. Vicks has been posed as the Health Care Brand of P & G India. Through this, P & G has sought to present both its market leaders and having a distinct aim and objective and thus sought to gain recognition of the product in the eyes of the consumer. The effect, accordingly, has been that the consumers have sought to rely on Vicks as a part and parcel of their daily lives as such. In almost each and every household, a pack of Vicks Vaporub can be located. Customer Price sensitivity Vicks Vaporub comes in three types of packs * 10 ml: Rs22 * 25 ml: Rs45 * 50ml:Rs 79 As per our interview with retailer the most preferred of these is the 25ml pack, An average of 10 packs will gets sold every week in a particular store. Vicks vaporub is the market leader in this segment; however the nearest competitor is Zandu balm which is very expensive comapared to Vicks Vaporub. 25ml pack of Zandu Balm is priced at Rs70. Vicks Vaporub has very hardcore loyalty among customers, It is in very rare situation that incase Vicks Vaporub is not available the customers go Zandu Balm or Amrutanjan Customer price sensitivity plays a very minimal role in this case. For example: If the price of 25 ml pack Vick Vaporub is increased by 10%, the resulting price of Rs49. 5 is still very low compared to its nearest competitor Zandu Balm which is priced at Rs70. The price of Vicks Vaporub will still remain lesser that of Zandu Balm even if the prices of Vicks Vaporub is increased by 50% at the present situation. Promotional mix of Vicks Vaporub: Advertisement through radio, television and other kinds of media such as facebook and twitter along with, promotions are primary promotional mix for Vicks Vaporub. Media Plan & message: Vicks Vaporub: â€Å"We don’t sell Vicks Vaporub, we sell mother’s love. Over the years, Vicks has launched various heart-tugging ad campaigns that have struck an emotional chord and left an impact of love and care for which the brand stands. According to a P;G spokesperson, â€Å"Ever since its launch in India in 1952, Vicks Vaporub was strategically positioned as a child cold rub, and all communication to consumers, employees, trade etc. has always centered round the mother child loving relationship. † The brand surely reigns supreme on the trust parameter, which no competitor can take away from Vicks. The effect, accordingly, has been that the consumers have sought to rely on Vicks as a part and parcel of their daily lives as such. In almost each and every household, a pack of Vicks Vaporub can be located. And what is important to note is that where it is not present, consumers still refer the other ointments (which they use) as Vicks only. By this it can be understood as to how dominating the effect of Vicks has been. Vicks VapoRub has endeared itself to the Indian consumer and finds its place in every Indian home, due to its proven performance over the years against cold. According to the company P;G, â€Å"We don’t sell Vicks VapoRub, we sell mother’s love. The Vicks portfolio caters to different consumer needs and Vicks has become an integral part of every home and family in India. The consumer-brand relationship has been built over many years of trust and care and Vicks has lived up to its promise of a superior quality cough and cold relief product that consumers can enjoy for another fifty years and many more, to come. Vicks will last as long as Mother’s love lasts. † Present media plan for vicks vaporub: Background: As per 2010-2011 annual report, The Vicks Cough Drops business had an excellent Year, with the brand growing at 18%. The growth was driven by increased investment on proven advertising and driving awareness of flavors by using other relevant touch points for the Brand like radio and wall-painting, which increased consumption further. Given the passion for cricket among its consumers, the Brand also executed a first ever cricket focused program with the launch of ‘Vicks Cricket Jockey Hunt’ spread over 16 top cities in the Country. A penchant for talking incessantly and passion or the cricket†¦ let the jockeying begin! Vicks Cough Drops announced the launch of the nation's first ever Cricket Jockey Hunt – a unique concept that sweeps the nation in search of the ultimate cricket fan who conveys his passion for the sport in his wittiest and quirkiest best! Gracing the event with their presence were none other than two of Indian cricket's most famous and distinct ive personalities – Harsha Bhogle ; Mandira Bedi. All of us in our day to day lives have experienced throat irritation which may appear minor at the outset but has an indelible impact. Fortunately, Vicks Cough Drops has been our trusty companion providing long lasting relief from throat irritation. As Vicks Cough Drops arms people with the thrilling equipment of being able to talk for long hours, the Cricket Jockey Hunt aims to bring forth the scintillating combination of jockeying with the nation's passion cricket. Speaking about the Vicks Cricket Jockey Hunt, Harsha Bhogle said, â€Å"The Vicks Cricket Jockey Hunt is a distinctive platform for all cricket fans that have an inclination and skill for cricket to come forward and explore their talents. There is huge potential in our country and I urge all those who have the skill set to participate. This is a platform that I could only wish was available back in my day. I am very anxious about the contest and look forward to mentoring the participants. † Each week the contestant will go through a series of eliminations to reach the final levels of the Top 8 followed by the Top 3 followed by the grand declaration of the Ultimate Vicks Cricket Jockey in each of these 16 cities. However Vicks VapoRub had a continued strong volume growth driven by continued focus on the successful ‘blanket of warmth’ advertising via augmented media spend and on our ongoing strategy of upsizing consumers to drive consumption. However this year Vicks has come up with very innovative campaign on its face book page: Vicks India that claims to be the No. 1 brand for cough and cold, is on a mission to create the ultimate anthem for India’s cricket team and wants the community to be a part of it. Brands are forever catching up on the cricket fever in a nation of cricket fanatics. With the T20 World Cup round the corner, Vicks India has commenced on the creation of an anthem to cheer the Indian team called ‘Cheer for Champions’. ‘Cheer for Champions’ is an endeavour to unite all of India in their support of the national cricket team. Currently in the process of being composed by much sought after music composer, Ranjit Barot, Vicks India also wants the community to be a part of it. For when one voice has power, you can imagine what a whole nation united by a single cheer could do. And for adding to the cheer, fans can expect exciting incentives – 25 surprise gift hampers and if you submit your cheer in a group of 5, 2 of the best group video submissions can win a trip to the T20 World Cup in Sri Lanka! ‘Cheer for Champions’ can be accessed on a neat and comprehensive Facebook app on the Vicks India page with four tabs – Home, Submit your Cheer, Gallery and About the Anthem. A user who lands up on the Home page can find all about the anthem and what’s in it for him/her. The countdown to the anthem is displayed on a live ticker in terms of days, hours and minutes left. The submission showcase displays a gallery of selected submissions made to the anthem as entries are subject to moderation so as to avoid the use of strong language. You can submit a cheer in whatever way you wish to show your passion – a yell, a scream, a chorus, a song! There are 3 ways to submit your entry: Record through your webcam, Record on audio clip or Upload an audio or video file of not more than 30 seconds duration. You can keep watching the ‘about the anthem’ tab for ongoing developments around the anthem. About the ‘Cheer for champions’ anthem The concept of creating an anthem to cheer for the nation is not all that great but getting your community to join in is. It helps bring in the social aspect into this campaign. Roping in the community to create an anthem, a community song or an ad jingle is the trend now. Its also reminds us of a similar campaign launched in the beginning of this year to salute real life heroes. Hero MotoCorp had launched the ‘Billion Voices’ campaign along with A. R. Rahman, where fans were invited to upload a video with them singing the ‘Hum mein hain hero‘ jingle and get a chance to feature in the final video. Apart from the campaign a new advertisement was released recently ,given the passion for cricket among the Indian users,none other than Virat Kohli was roped in for the advertisement, only this time it was for both Vicks cough syrup as well as for vicks vaporub. Given that Vicks Vaporub is not only used by children but adults as well ,roping in Virat kohli will be another strategic move in promotional mix by including the game cricket in its message. The VapoRub segment in the market is dominated by Vicks VapoRub in India. Vicks commands a market share of over 60% in the cold balm/rub category. This industry is already saturated and Vicks already being a dominant it has few competitors on cold/rub market, mainly zandu balm and Amrutajan. however it has also lost a small amount of share to some of the unbranded products as well. Competitors Its main competitors are Emami’s Zandu balm having a market share of 27% and amrutanjan with 10% share, however the rest of the share is occupied by other branded and un branded competitors. Therefore Zandu balm is our major competitor although Zandu Balm is not meant technically understood as a part of the VapoRub Segment yet because of similar characteristics it does compete with VapoRub products in areas and thus it has to be provided for as a competitor in the VapoRub segment PEST ANALYSIS: Political factor: We all know that ‘OTC Drugs' in common jargon means drugs which are legally allowed to be sold Over the Counter without the prescription of a Registered Medical Practitioner. The term is clumsy and creates a wrong impression about the official status of the drugs. In India, import, manufacture for sale and the sale and distribution of drugs and cosmetics is regulated by the Drugs and Cosmetics Act, 1940 and its subordinate legislation Drugs and Cosmetics Rules, 1945. The phrase ‘Over the Counter' and its abbreviation ‘OTC' preparations have no legal recognition and are better referred to as ‘non-prescription drugs' and/or as ‘household remedies', even if there is any problem with respect to any product of Vicks VapoRub the p&g will take care of it literally.. Economic factors: Factors such as tax increase or fuel price fluctuation will affect the business or allow competition to creep in, However Vicks has tackled such problems in the past by considerably reducing its cost of marketing and distribution. Moreover the loyal customers will still buy it not only because it is comparatively lesser priced but because they know it is quality, best value for price the pay to buy it Social factors: When used as directed, the over-the-counter cold remedy Vicks VapoRub is generally considered to be safe. Mayo Clinic's Dr. Jay L. Hoecker regards Vicks VapoRub as a harmless remedy, but notes a lack of conclusive evidence to support its folk use as a nasal decongestant. The active ingredients in Vicks VapoRub include menthol, camphor and eucalyptus oil, which are natural products associated with few side effects. Nevertheless, Vicks VapoRub may trigger complications if it is used incorrectly. In a January 2009 report, the American College of Chest Physicians cited a case-report involving an 18-month-old girl who experienced near-fatal respiratory problems after inhaling Vicks VapoRub. Technological factor Rate of innovation is very low, since the constituents of the products are more or less similar from the time it had been launched. Sales of Vicks VapoRub mainly depend on advertisements and promotions. These products are used for the cough, headache and throat pain and so the products should be designed very carefully with improved technology. There are various products coming in the market and there are various biotechnologies coming up which is still a nourishing the industry Growth rate According to a survey done by ORG IMS estimate the OTC market in india would show rates of about 10-12%, Of the entire OTC market the segment for cough, cold and fever show the least of about 1%. Marketing mix Vicks VapoRub is a product that has already reached maturity stage of its product life cycle in segment where the industry also has reached maturity stage. The marketing mix during this stage involves efforts to build customer loyalty, typically accomplished with special promotions and incentives to customers who switch from a competitor to our brand. Core Competency: Favorable quality perceptions associated with the Vicks brands. Given the absence of verifiable information that customers can interpret, customers use brands to form inferences about product quality. Vicks’ favorable quality perceptions result from the following cues (each of which are hard for new entrants to mimic): †¢ Age of brand †¢ Market share †¢ Amount of advertising †¢ Your mother rubbing it on your chest Well-established sales force and distribution †¢ Comparative advantage in food distribution outlets and mass merchandisers †¢ Not valuable in segments that shop in other markets Demand information – Cash †¢ But competitors also have cash. Key success factors: Vicks VapoRub has to encash the factors making it competitively superior i. e. (i) safe and effective, (ii) as a product which can be used regularly and has no side effects, (iii) is easier to carry, (iv) has a quick effect, (v) has a external application and thus has no side effects, (vi) is useful for all ages, (vii) is less greasy and smells better (than other products of the same type) . New Market Existing | | | | New Product Existing Product: Product is remained the same for many years with minimal changes, however it should remain to continue the way it is, given below is Ansoff matrix for Vicks s,currently all of the products are doing well with cough drops having 18% growth last year. Vicks VapoRub lies category of Old product and old market. we have to either find methods to increase market penetration at this stage ,mainly we have to concentrate on promotions as well. More over we can find the possibilities of introduction of new product or re-launch of existing product with new product modifications. Vicks offers product for relief from cold and its symptoms through various product forms such as in the form of Vaporub,capsules,Inhaler, Cough Drops, However Vicks was also offered in the form of liquid know as Vicks cough formula 44,However the product failed and it was dropped from Vick’s product portfolio. Hence we have the competency of offering Vicks in the form of liquid as well by relaunching a new product itself once again. On further survey we can judge the feasibility of implementation for such a product. Price: Increased demand from Parma and other consuming industries mainly have been the cause for the recent increase the prices of menthol which is a major ingredient of Vicks Vaporub . The increased prices of Menthol will surely have affect on the cost of production of Vicks Vaporub. Factors such as tax increase or fuel price fluctuation will affect the business or allow competition to creep in, However Vicks has tackled such problems in the past by considerably reducing its cost of marketing and distribution. Moreover the loyal customers will still buy it not only because it is comparatively lesser priced but because they know it is quality, best value for price the pay to buy it. We would recommend Vicks to continue with its current prices, As per our interview with dealers majority of the people who purchased vicks vaporub preferred the 25-ml box costing Rs 45,moreover there was an average sale of atleast 10 boxes per week at places we interviewed . Channel: Vicks VapoRub or for that matter no product of Vicks does not have a separate market channel for itself. All products are marketed by one single marketing channel, organized and regulated by one company namely, Proctor and Gamble Hygiene Products Ltd The commission for the dealer for sale of one product at as per secondary data was found to be up to about 16%,however the dealers we interviewed that they get above 10% We would like to recommend Vicks Vaporub should continue to give the margin of 10%-16% to the dealers. This shall protect them against the inducement of the manufacturers of local and unbranded products to sell their products Promotion: As monsoon rains are already set in and winter about to begin in very soon, Vicks VapoRub must concentrate more on promotions. The primary promotional mix of advertisement through television and radio should be continued along with use of new media such as facebook and twitter for a two way interaction with the consusmers, that also helps in providing feedback to the company as well to measure the results of a particular online promotions or campaign. The recent â€Å"Cheers for Champ† is catching on heat with the T20 world cup around the corner. .