Duckback Marketing Plan Essay Example

Duckback Marketing Plan Paper Executive Summary Set up in 1920, Bengal Waterproof Ltd (BWL) has the distinction of being Indias first waterproof products company. BWL is famous for its Duckback brand, the company is a leader in the domestic market for protective wear and rubberised consumer durables. Besides millions of households, its customers also include government institutions and defence establishments. Ironically, its strong brand equity was also the reason for the companys lacklustre marketing initiatives. Meanwhile, consumer preferences have changed. Now, the company has had to re-engineer processes and introduce new products in the market. An investment of Rs 40 crore is on the anvil on manufacturing processes and on marketing initiatives. The company now proposes to set aside a sizable chunk of the proceeds from sales for brand-building and advertising initiatives. Duckback basically has two major segments- the luggage segment and the rain wear segement. Here we analyse the basic strengths, weaknesses, opportunities and threats to the company, followed by Porter’s five forces analysis. We proceed to find out its major competitors,substitute products, target markets and product lines in both the segements. And then we move on to propose a marketing strategy to improve its market share. Introduction Duckback was founded by Surendra Mohan Bose, who was a freedom fighter and in this connection he was also arrested in 1914. In 1919, he started Bengal Waterproof Works along with his three brothers in Kolkata. Initially, it only manufactured raincoats under the Brand Name ‘Duckback’. We will write a custom essay sample on Duckback Marketing Plan specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Duckback Marketing Plan specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Duckback Marketing Plan specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The name Duckback was conceived from the idiom ‘Like Water Off a Duck’s Back (water does not stay on a duck’s feathers and hence the name was perfect for a waterproofing solution). In 1938, Mr. Bose purchased the closed Dicon Rubber factory and in the same year, its entire manufacturing operations were shifted from Kolkata to Panihati in the 24 Parganas (North) district in West Bengal. In 1940, Bengal Waterproof Works was converted into a limited company and renamed Bengal Waterproof Ltd. ? S. W. O. T Analysis Strengths: †¢Indias first waterproof products company 88-year-old company with a very strong brand recall †¢The company is a leader in the domestic market for protective wear and rubberized consumer durables †¢Customers like government institutions and defense establishments †¢Excellent distribution channels and quality standards †¢Catering to markets like the UK, Germany, the US and Canada. †¢Best known for its traditional prod ucts such as hot bags, ice bags, rainwear and gumboots †¢Low and affordable cost structure Weakness †¢It has been in the soft luggage segment since 1986 although it has not enjoyed good shelf-space till now. Armchair Marketing lacklustre marketing initiatives. Opportunities †¢New product offerings can help reposition the Duckback brand in the retail market. †¢Large school bags market, mostly catered by local players till date. †¢Tie up with some major multinational brands. †¢South is a major market for the company Scope for market expansion in other regions of India. Threats †¢Rainwear is a seasonal business – Major contributor to revenues. †¢Weak brand name in the premium segment. Porter’s 5 Forces Model: The threat of substitute products: The existence of close substitute products increases the propensity of customers to switch to alternatives in response to price increases (high elasticity of demand). †¢Duckback faces a very major threat for its rainwear product in the form of Umbrella. †¢Buyer propensity to consume is low in luggage and rainwear segment. †¢Buyer switching costs is very small. †¢Perceived level of product differentiation is not much as far as hospital and rainwear industry is concerned. The threat of the entry of new competitors Profitable markets that yield high returns will draw firms. This results in many new entrants, which will effectively decrease profitability. Unless the entry of new firms can be blocked by incumbents, the profit rate will fall towards a competitive level (perfect competition). †¢Barriers To Entry Rainwear industry largely being unorganized and involving very low cost for set up, barriers to entry are very low. On the other hand, for hospital equipments considerable amount of barriers to entry exist on account of high set up costs and requirement of high quality standardized products. In case of luggage industry it can be said that though low barriers to entry exist in the lower segment, high amount sophistication required in the premium segment make entry difficult for new entrants in this segment. †¢Access to Distribution Channels: Incase of distribution channels for rainwear and luggage, the access to channels is easy. Hence new competitors can very easily enter into these segments. Though, distribution channels will be difficult to capture for the hospital equipment industry as this industry requires direct selling and contact with hospital administrations. Intensity of Competitive Rivalry For most industries, this is the major determinant of the competitiveness of the industry. Sometimes rivals compete aggressively and sometimes rivals compete in non-price dimensions such as innovation, marketing, etc. †¢Number of competitors: For all the product lines of Duck Back, the number of competitors competing is very high, more in the unorganized sector than in the organized sector. †¢Rate of industry growth: In case of Rainwear Industry, the rate of industrial growth is very minimal, making it highly unattractive for competition. Diversity of competitors: High diversity of competitors exist for the various product lines of the company. †¢Level of advertising expense: Advertising expense in the rainwear and hospital equipment industry is minimal or almost nil, whereas in case of luggage industry as there are few major players catering to a major chunk of the market, a high advertising expense is incurred by the companies to show the differentiated features of the product. The bargaining power of customers This force refers to the ability of customers to put the firm under pressure and it also affects the customers sensitivity to price changes. Buyer concentration ratio: As buyer concentration ratio is very low for all the product lines, customers do not enjoy any major power on suppliers in terms of price or type of products. †¢Firm Concentration ratio: In case of luggage premium segment, a high concentration ratio exists which gives customers a very low bargaining power as not many options are available for the customers. †¢Buyer switching costs relative to firm switching costs: Buyer switching cost are very low. Thus giving rise to high competition. Buyer price sensitivity: Low price sensitivity exist for the various products as all the products constitute very low proportion of the income of the consumers. The bargaining power of suppliers Also described as market of inputs. Suppliers of raw m aterials, components, and services (such as expertise) to the firm can be a source of power over the firm. Suppliers may refuse to work with the firm, or e. g. charge excessively high prices for unique resources. †¢Presence of substitute inputs – There are number of substitute inputs available as firm can use Nylon, PVC, and other substitutes for manufacturing its products. Supplier concentration to firm concentration ratio Supplier concentration ratio is high as compared to firm concentration ratio, bargaining power of suppliers is high. Cost of inputs relative to selling price of the product – Cost of inputs is low relative to selling price of the product. Products and Corresponding Target Markets The product range of Bengal Waterproof Limited, sold under the Duckback trade name can be divided into the following segments: 1. Clothing waterproof and weatherproof 2. Footwear – industrial, protective and special purpose 3. Rubber products for industrial use 4. Rubber products for medical and laboratory use 5. Inflatable structures and goods 6. Soft luggage A detailed description of the target market based on different demographic parameters, industry and societal trends, and customer needs is analyzed and given below. 1. Clothing waterproof and weatherproof The product line under this segment is as follows: a)Raincoats: The product line depth under this category includes the conventional single piece raincoats, raincoats with leggings and hood, designer raincoats, feather weight raincoats. Target Market: i. Based on Geographic location The aim would be to target customers all over the country with special emphasis on the rainfall intensive regions – namely the western coastal region covering the states of Karnataka, Kerala, Maharashtra and Goa and the eastern states of West Bengal, Orissa and Bihar. A potential market in the north-eastern region is not being exploited at the moment due to the prevalent unsuitable conditions which pose a difficulty in operationalizing the marketing plans. Any stabilizing in the future would present an opportunity to enter these markets. i. Based on profession The marketing efforts are to be concentrated on two segments – school children and the working class. This is because of the perception of raincoats as being ‘so-not-cool’ amongst the youth. For these two segments, the utility factor matters more than the appeal. Designer raincoats Raincoat : leggings and hood The designer raincoats and the feather weight raincoats would focus on school children; and the conventional single piece raincoats and the raincoats with leggings and hood would focus on the working class. These would cater to their need of travelling on a two wheeler or while commuting from their residence to the place of work via public transport, when it is raining. b)Umbrellas: Conventional black, designer umbrellas, travel umbrellas. The conventional black umbrellas are targeted at the consumers who need to carry an umbrella and maintain a formal look about them or for those who prefer the traditional looking umbrellas to the designer ones. Designer Umbrella The designer umbrellas are targeted at school children, the youth and women. These provide an opportunity to make a style statement while retaining the idea of an umbrella. Travel umbrellas focus on the need of customers to carry umbrellas in their bags. With an increase in the percentage of working women, it provides them with a convenient option of carrying an umbrella in their travel bags and purses. c)Wind cheaters: Derby super comfort jackets, all weather jackets Windcheaters This segment particularly focuses on the youth who need to make a style statement along with fulfilling the need of weather protection. The Derby Super Comfort jackets focuses on all weather protection, targeting the youth with its unique styling. The all weather jackets are designed keeping in mind the requirements of the general population who look to protect their clothing from rain and dust while travelling. 2 Footwear – industrial, protective and special purpose The different products in this category include: a)Safety and work footwear : The following industries are the ones which require footwear designed for specific purposes. i. Mining ii. Steel iii. Glass iv. Cement v. Electrical Within this category, Boot and shoe lining soles are also included. These products will not require much of a capital investment to produce nor do they require a high operational cost. However, for the industries which use them they form a critical component as worker safety is a primary concern for them. As such, we will be catering to a niche market where our advantage of being an experienced manufacturer will stand us in good stead, and higher profit margins can be expected as there are not many other competitors in this category. b)Dielectric and conductive footwear : These form an integral part in the operations of the semiconductor manufacturing industry and the electronics industry. The manufacture of special components requires that latex based products for insulating purposes. The high involvement of such equipment provides a viable economic opportunity for the company to invest in a larger scale of operations for this type of specialized footwear. Dielectric footwear Gumboots c)Special purpose footwear: These include footwear such as Gumboots, Super gumboots and snow ankle boots. The defence services also require boots for different terrains. Our aim would be to build the footwear which would be consistent with the production facilities and would not entail a huge investment. Duckback already has a relationship with the Indian Navy and the Indian Army because of its inflatable structures being used by these institutions. We would try to leverage this relationship to establish a foothold into the special purpose footwear. 4. Inflatable structures and goods: The primary market for these structures is the Defence Forces. The company makes a range of inflatable boats, assault boats and life jackets for the Indian Navy and the Army. With the Defence Sevices going for an upgrade in their equipment, there is a possibility of bulk purchase tenders coming in the market. Our focus would be to use the goodwill and experience gained in the previous transactions with them and to continue as a supplier to them and try to capture a larger share of the pie. Another niche market is making inflatable boats for recreational activities like adventure sports and whitewater rafting. With people becoming more aware of adventure sports and having a higher disposable income, this sector is expected to achieve a high growth and our aim would be to emerge as a major supplier for this sector. As a part of a promotional campaign, we can associate the Duckback brand name with a few adventure activities to achieve recognition amongst the organizers of such events, who are going to influence the buying process. In order to cater to the servicing requirement of inflatable boats and life rafts the Company should set up service stations in the dock areas. Inflatable Boats 5. Rubber products for medical and laboratory use One of the main reasons for which we suggest that BWL foray into this Industry are the high rate of growth coupled with the previous experience of the company in making the hospital equipment. With a large number of hospitals and healthcare centers being opened across the country, there lies a huge potential market for these products, on a large scale. The emphasis here is to identify the major players in the market and to establish a relationship with them on a long term basis. This means that BWL would focus on strengthening its relationship with the existing business consumers and try to forge a relationship with new n emergent players, on a B2B platform. There are various factors, which govern the growth of the medical and healthcare industry. Some of the key factors are: †¢Continuous investments in research development has resulted in increased productivity and better quality of drugs, medicines, medical instruments, hospital equipment, and other medical supplies used in medical industry. †¢Provides employment to large chunk of human population. †¢Increased costs in the medical treatment in the developed nations have driven patients to migrate to Asian countries and India provides a cost-effective solution. Rise in ailments among the ageing population both in developed and developing nations has led to the increase in demand of variety of drugs or medicines. †¢Innovative techniques of drug discovery and drug development, new cures and treatments, gene testing for insurance, genetic predictions of disease and related issue, human cloning and reproductive technologies are the other key drivers of the medical industry. SHARE OF MEDICAL EQUIPMENT SUPPLIES IN 2006 The division of the rubber equipment in t he medical industry is indicated by the pie chart shown above : The products in this category which lie in our region of interest include: CORRUGATED DRAINAGE SHEETS HOT WATER BOTTLES ICE BAGS AIR CUSHIONS MACKINTOSH SHEETING 6. Soft Luggage PART 1 Major Competitors: Samsonite VIP Future Prospects The future prospects for any Company in the Luggage Industry look good majorly on account of high growth in the travel and tourism industry. The current industry size of the luggage industry id close to Rs. 00 crores and is expected to experience a growth rate of 15-20% in the current times. Another major point to be noted here is that the major growth that is expected to happen is in the premium segment of the luggage industry which is expected to grow at the rate of 30%. Target Customers Duckback can divide its target customers into various sergments viz. Lower segment customers, middle segment customers and upper segment customers. Based on the demand analysis of the industry, it can be said that Duckback need to focus on the upper segment customers on account of high demand in this segment. Duckback can also focus on the middle and lower segment of the market as this segment is still untapped by any major player and has been dominated by only the unorganized sector. Duckback can build its image in this segment and target customers looking for a durable but an inexpensive brand. Target market demographics Upper Segment: The target segment for this segment would be the upper middle class where people like to travel alot, abroad as well as in India and they look for convenient luggage which is easy to handle, safe and also looks attractive. Middle Segment: In the middle segment, one of the major target customer group are the sales persons that travel frequently and require bags that are durable, safe and easy to handle. This group does not much focus upon the aesthetics. Lower Segment: Duckback should try and withdraw itself from this segment altogether as this segment is dominated by the unorganized sector and catering to this sector would not go along with the image that is to be projected for Duckback. Products Positioning: Duckback has to focus on premium segment of the luggage industry with major stress upon four attributes viz convenience, variety, aesthetics and safety. The products offered in the various segments of the luggage industry will be positioned in different manner in the eyes of the consumer. Presently the image of Duckback is that of a product which is inexpensive, affordable and easily maintainable and which caters mostly to the lower class segment. Its competitors like VIP and Samsonite feel that though Duckback is a very reliable product, it would not prove to be much of a competitor especially in the premium segment. So, we should position Duck back as a lifestyle brand and not just any other bag. General Strategies: Presently, Duckback enjoys a good position in the eyes of the customers of the lower segment. So it should continue the same strategies and also work increasing its penetration in the lower segment. At the same time, it should also concentrate on embarking into the premium segment. It should position itself as a lifestyle brand and not just as any other bag. So for this, it should change its image into a much more trendy and suave baggage company. They can have luggage designed for the upscale market: with special features such as imported leather etc. They can come up with luggage made of floral upholstery fabric to appeal to the feminine buyer and impart a sense of aesthetics. The biggest challenge for them is to design luggage that looks sophisticated but at the same time is durable, withstands manhandling by dozens of baggage jockeys. So they can come up with suave designs to look good, and also include tougher ballistic nylon, retractable handles and wheels to ensure easy utility and durability. Soft Luggage: The product line of Duckback should include the soft luggage segment. The reason for this is that customers are now giving more emphasis on the convenience and the aesthetics attributes of the luggage. Hence they are preferring the soft luggage. All the major players are also shifting their focus to the soft luggage segment. Another reason that can be attributed to this is increase in the cost (approx. by22% in last 1 month and almost by 100% in past 1 year) of the polypropylene, a raw material (contributing to approximately 75% of the material) used for making of hard luggage. As a result, the hard luggage industry has in fact shown a negative growth of 15% in the past while soft luggage industry growing at a rate of in excess of 40%. Pricing Strategy: As Duckback has a huge section of its customer base in the lower income segment, its prices should not be too high compared to its competitors. As of now Duckback is considered to be a very affordable brand by its customers, so it should continue with these pricing strategy. And maybe it can come up with some discount schemes and gift incentives to increase its penetration in the lower income segment. And for the premium segment, if we price the premium item too low, customers will not believe the quality is good enough. Distribution Channels: Premium Segment: For the premium segment, the Company can have exclusive outlets at prominent malls, shopping centres etc. for its products as this will help Duckback distribute its products in the right kind of ambience along with showcasing of all its range together. This will promote in the strengthening of the image of the Company. Medium Segment: For the medium segment, besides exclusive outlets, use of local distribution channels will be more beneficial as it will increase the reach of the products to the entire middle class which generally picks up luggage off the streets. Direct B2B Selling: Another channel that can be used to widen the market of the products is the direct B2B Selling. Duckback can try and have direct tie ups with companies, schools, colleges, airlines, etc that give bags to their employees or as reward to their customers. This will help Duckback to reach a wide range of customers and be a known name. Promotional Activities Advertisement: Innovative Advertising using banners at airports, railway stations, metro stations etc should be used where the visibility of the brand is high amongst the target consumers. Television: Till now, Duckback has not tried to connect itself with the consumers directly. It has not advertising as a promotional tool. Its marketing strategy has concentrated more on B2B selling. But with its foray into the soft luggage segment, it needs to forge a relationship with the consumer and the first step towards this relationship building is to use a visual medium to connect to the minds of the consumer. Promotion: Various promotional strategies can be used by the company. Company can have stalls at International Trade Meets such International Conventions, Trade Meets etc, which display new product range of the company along with certain kinds of loyalty coupons given to the target customers. Road shows: Another way to increase the visibility of the product is to organize road shows at various prominent locations in various parts of the cities and showcase consumer centric products of the company such as luggage, rain wear etc. This will increase brand recognition among the consumers and thus would encourage repeat purchase. TECHNOLOGY ABSORPTION, ADAPTATION AND INNOVATION A continuous process should be carried out to improve the present technology for the existing products and also to introduce new products. The endeavor should be to increase the amount of R D involved in various projects and to introduce new technology to improve upon the current methods of production. Benefits derived as a result of the above efforts are expected to be : †¢Reduction in cost. Higher production efficiency. †¢Improvement in quality. †¢Increased customer satisfaction. Also, the Company has not imported any technology during the last five years reckoned from the beginning of the financial year. This is an impediment to the growth of the company as the company is lagging behind in this aspect. A formidable threat the company faces is from the international market, especially China which can flood the markets wi th their low cost products. Technology import will impart us the ability to produce low cost products without compromising on quality.

La fe les ayuda y les daña †Theology Essay in Spanish

La fe les ayuda y les daà ±a – Theology Essay in Spanish Free Online Research Papers La fe les ayuda y les daà ±a Theology Essay in Spanish La fe y la iglesia son papeles muy importantes en las dos novelas Aves sin nido y Huasipungo. Las representaciones de las dos sirven para demostrar un aspecto significativo en la vida de la gente andina, especialmente con respecto a los indà ­genas. Los autores tambià ©n utilizan la fe y la iglesia para hacer crà ­ticas fuertes contra las maneras que los indà ­genas estn gobernados y maltratados. En las dos novelas, toda la gente de todas clases es muy religiosa. La iglesia y los polà ­ticos son corruptivos y aprovechan de su poder. Sin embargo, las novelas enfocan en aspectos diferentes. En Aves sin nido, Clorinda Matto de Turner nos da una imagen inocente del indà ­gena y su cristianismo puro da razà ³n de querer ayudarlos. Su fe les ayuda aunque son victimas del poder de la iglesia. Sin embargo Jorge Icaza crea una imagen mucho ms oscuro. En Huasipungo, la iglesia y los polà ­ticos no solo aprovechan de su poder sino tambià ©n aprovechan de la fe de los indà ­genas. Su fe les hace daà ±o y el hecho de que parecen crà ©dulos, entre otras cosas, hace que el lector sienta menos lastima. Despuà ©s de las primeras dos capà ­tulos de Aves sin nido, Matto de Turner ha demostrado que la indà ­gena peruana (representada por Marcela) tiene mucha fe, es inocente, es abusada por la iglesia y polà ­ticos. â€Å"En nombre de la Virgen mi corazà ³n me ha dicho que tà º eres buena†¦ por la Virgen† (Matto 4). La manera sincera y religiosa que Marcela pide ayuda de Lucà ­a por sus deudas del reparto y de la mita, y las descripciones de la gente rezando en el cementerio (Matto 1), hacen que los indà ­genas parezcan buenos. Ms tarde, la novela describe la hija de Marcela como â€Å"†¦esta inocente predestinada que, nacida entre los harapos de la choza†¦Ã¢â‚¬  (Matto 15). Puesto que las violaciones y corrupcià ³n en la iglesia no estn descritos muy detallados, parece que vienen de un problema inherente en el sistema y no tan personal. Sin embargo, Matto de Turner nunca describe una duda o un problema sobre la fe pura y es obvio por toda la novela que respeta mucho a la religià ³n. Ya que la autora tiene a la fe en gran estima, la fe de los indà ­genas los eleva a une nivel mas alta y nos hace sentir que su opresià ³n no viene de ninguna culpa suya. El sentido de Huasipungo es muy diferente. Primero, los indà ­genas no son descritos como puros e inocentes. A travà ©s de abuso domestica y una falta de solidaridad, el lector tiene una imagen un poco manchada de ellos. Otra diferencia es que las abusas contra los indà ­genas son mas detallados, feos y personales. Por ejemplo, cuando don Alfonso viola a la Cunshi es muy clara que à ©l esta tomando la decisià ³n de hacerlo. â€Å"‘Por quà ©? Todos lo han hecho’ Adems acaso no estaba acostumbrado desde muchacho a ver y comprobar que todas las indias servicias de las haciendas eran atropelladas, violadas y desfloradas asà ­ no ms por los patrones. Él era un patrà ³n grande, su mercà ©. Era dueà ±o de todo, de la india tambià ©n† (Icaza 56). Pocos momentos despuà ©s el libro nos ofrece una pista que el cura, y por lo tanto, la fe tambià ©n esta involucrado en actos feos de violacià ³n. â€Å"Sobre ella gravitaba tembloroso de ansiedad y vi olento de lujuria, el ser que se confundà ­a con las amenazas de seà ±or cura, con la autoridad del seà ±or teniente polà ­tico y con la cara de Taita Dios† (Icaza 57). El hecho de que los abusos son ms personales, y no son claramente la culpa del sistema en general, nos hace pensar que los indà ­genas pueden resistir aunque no lo hacen. A pesar de que sus vidas son horribles, los indà ­genas mantienen su fe. â€Å"Taita Dios ampare. Taita Dios defienda† (Icaza 52), es algo repetido y creà ­do por toda la novela. Desafortunadamente la iglesia y los polà ­ticos aprovechan de su fe completa en el poder de Dios y de los curas. Cuando estn hablando de cuando deben tener la minga para construir el camino, el cura sugiere una fecha despuà ©s de la fiesta de la Virgen de Cuchara â€Å"porque asà ­ los indios y los chagras se sentirn protegidos por la Santà ­sima Virgen y trabajarn con mayores brà ­os† (Icaza 64). El cura dice que â€Å"sentirn† en ves de â€Å"sern† porque su intencià ³n es engaà ±arles. Cuando la inundacià ³n esta matando a la gente, â€Å"el santo sacerdote, aprovechando la embriaguez de pnico y de temor que mantenà ­a a los indios como hipnotizados, pregonaba en ejemplo del cielo aquel castigo frente a la tacaà ±erà ­a de los fieles en las limosnas, en el p ago de los responsos, de las misas, de las fiestas y de los duelos† (Icaza 117). Sabemos que los curas se hacen ricos con esta prctica. En ves de respetando la fe, el autor esta burlando de las creencias de los indà ­genas. Llega a un punto casi chistoso cuando don Alfonso imita al cura para asustar a los indà ­genas cuando piden socorros. â€Å"Inspirado en el ejemplo del seà ±or cura, alzo los ojos y los brazos al cielo†¦Ã¢â‚¬  Despuà ©s, los indà ­genas, olvidaron de los socorros porque â€Å"era peligros†¦discutir con Taita Dios [el cual]†¦era superior a sus fuerzas como hombre† (Icaza 126). Al fin de la novela los indà ­genas pierden hasta su derecho de ser llamados cristianos cuando â€Å"les elimine para tranquilidad de nuestros [los gubernamentales] hogares cristianos† (Icaza 170). Esta claro que la fe no esta sagrada en Huasipungo. Por eso, la fe de los indà ­genas es un engaà ±o y en ves de ser honorables, son crà ©dulos. Contrario a Aves sin nido, la fe de los indà ­genas en Huasipungo los baja a un nivel inferior. Combinada con nuestra imagen manchada y la falta de resistencia contra los abusos personales, el lector sienta menos lastima y querer de ayudar a los indà ­genas de Huasipungo comparado con Aves sin nido. La iglesia toma un papel casi igual en las dos novelas. Las dos son corruptas y abusan. Sin embargo el uso de la fe para llegar a objetivos opuestos es muy interesante. Research Papers on La fe les ayuda y les daà ±a - Theology Essay in SpanishThe Fifth HorsemanMind TravelMoral and Ethical Issues in Hiring New EmployeesHonest Iagos Truth through DeceptionThe Masque of the Red Death Room meaningsAssess the importance of Nationalism 1815-1850 EuropeCanaanite Influence on the Early Israelite ReligionBook Review on The Autobiography of Malcolm XRelationship between Media Coverage and Social andHarry Potter and the Deathly Hallows Essay

Business Management Affairs Coursework Example | Topics and Well Written Essays - 1750 words - 1

Business Management Affairs - Coursework Example A sole proprietorship brings the authority of running and controlling business activities to a single individual who can make important and minor decisions, control business environment and change policies where necessary. The accounting requirements and legal rules applicable on sole proprietors are less rigid and complex as compared to partnerships and companies. It is also considered to be on e of the cheapest forms of setting up a business (Gitman et al 2008). The advantages and disadvantages of sole proprietorship, however, need a deeper and keen observation to form a decision based on the examination of the three available options for us. This recommendation would provide advantages and disadvantages of sole trader, Limited Liability Company and partnerships. It would further conclude as to which venture is better for the organization. Advantages of a Sole Trader As highlighted above, there are a number of benefits that sole proprietorship brings for the sole owner of the busin ess. The first and the most rewarding benefit that this kind of business brings is the Controlling power that the owner receives. Sole trading maintains the highest level of autonomy in terms of running the business, choosing activities, methods and making autonomous decisions. A sole proprietor enjoys the autonomy of running the business in a manner that he wishes or considers appropriate to do so. A decision made by sole proprietor is not challenged by others in normal circumstances. The interference of other parties is less likely to influence the decisions of a sole trader and hence, the level of independence is upheld when setting up a business as a sole trader (Mifflin 2004; Gitman et al 2008). The second most attractive effect of dealing as a sole trader is the ability and right to retain the whole profit earned by the business. The sole traders are not required to distribute whole or part of their profits as required in the partnerships and companies. Another benefit that so le traders enjoy is the privacy of their data and business records. The companies are required to publicize their data and submit the annual reports to the companies’ house. The sole trader is free from such formalities required by the law or the stock market rules. It is also argued that sole proprietors are more responsible and specialist in terms of the nature and size of the business they are managing. The argument is supported by the view that sole proprietors are individually responsible for the profits and losses their business makes. Hence, the owners try to exercise such systems and controls which assure the long-lasting survival and profits of the business. In that, sole traders are also quicker and more efficient in making decisions about their business. Their observation of the customer’s demands and expectations help them in making informed judgements of what may help in the long run success of their business. They implement policies and change which aid t he business’s aim (Toit et al 2007; DeFrancesco 2006). Disadvantages of Sole Trader The advantages are not enjoyed without the risks of certain disadvantages surrounding the sole trading. Sole responsibility for the liabilities and losses is one the basic disadvantage that sole traders face. The sole proprietorship, further, does not acquire the separate legal entity status which disables such

Identify and describe a case for implementation of SAP Master Data Essay

Identify and describe a case for implementation of SAP Master Data Management at a four year university - Essay Example And Section table contains fields for Place, Time, Student ID, etc. whereas the Department table contains DeptID, Head, CourseID, etc. Also, the Pre-requisites table contains ID, CourseID, DeptID, etc. The University having different departments has a set of similar tables along with other tables, in each department’s database system. Although the data in it may vary, it is observed that there is some data across the departments that is the same for most of the time and does not change frequently, like the DeptID, Semester, Dept, CourseID, etc. Hence, it is created once and used many times over a period of time. Wikipedia defines â€Å"master data as the data used by different organizational components or by different systems that support an organization† (2009). Hence, DeptID, Semester, Dept, CourseID, etc. in the University database system constitute the master data and this data is common across all departments. However, as the different departments have their own database systems and tools, the format of the data may vary according to the department specific transactions and the master data referring to the transactional data thereby is contained in a different data record format in each database. This leads to multiple records for a single entity and creates excess data and data redundancy. To change the redundant data, multiple fields in the databases have to be changed which is time-consuming. Also, there is scope for human error and is difficult to maintain. Hence, maintaining the database in the different departments is time-consuming and costly. With more redundant data and accessing and changing it becoming time-consuming, entering transactions, data retrieval for analysis and reporting, and communication between the different departments becomes more difficult and confusing. Problems in data entry due to difficulty in

Econ Essay Example | Topics and Well Written Essays - 250 words - 2

Econ - Essay Example Economic problems and such as recession naturally happen subject to correction by the economy itself. Keynes, on the other hand, argued for a more reactive response from the government because without it unemployment will only extend. To battle this, government intervention is necessary because fiscal policies can stimulate the economy. The state cannot wait for the self-correction of prices and wages. Developed during the Great Depression, this theory assumes that prolonged unemployment will only hurt the economy. The solution to a swift revitalization to overcome a recession is by implementing government spending from taxes. This multiplies aggregate demand to get closer to a leveled real Gross Domestic Product. To prevent staggering inflation, the government only needs to increase taxes or decrease spending (Cliffnotes n.p.). From the fiscal policy of the United States during the current economic recession, we see that the government applies a more interventional approach in hopes of invigorating the low level of unemployment and to impede it from prolonging. This now could lead to a ‘crowding out’ because of higher interest rates which reduces investment and consumer expenditures that are affected by it. This diminishes the merits of the fiscal policy as implemented by the government (Cliffnotes n.p.). Bibliography Baumol, William J. and Alan S. Blinder.

Introduction And Project Methodology Management Essay

Introduction And Project Methodology Management Essay As firms grow the role of the founder needs to change (Burns 2007, p242). For the growth of a firm as well as for the behaviour of its entrepreneur-cum-leader, academic and business knowledge offers numerous simplistic models and frameworks. A key question is not only whether these models from two different subjects growth model on one hand and leadership model on the other hand fit together, but whether a certain industry with certain entrepreneurs demonstrates behaviour different to theory. In this project, the group will explore how different entrepreneurs with different leadership styles and personality can still be successful in taking their creation through different stages of business growth for the same product/ service and how they can continue to maintain the differentiation. In the assignment, we will also test our findings (matching patterns and exceptions) with what we have studied in this module. Greiners five phase growth model and five stages of a business growth have been used (and sometime interchangeably) by us to test patterns from practice with theory for the low cost airlines (LCC low cast carriers). Project Methodology First, we did a group discussion to familiarise with the topic of growth stages and leadership approaches based on material of the MBA modules Entrepreneurship and Innovation Management and Perspectives of Leadership. Section 2 gives a brief overview of the groups understanding of leadership approaches from academic knowledge and experience to be linked with practical evaluation later. As from the second step the focus was from practice to theory which is covered in Section 3. We decided for the Low-Cost-Carrier Industry to be evaluated. Third, we defined which LCC Airlines to be evaluated and compared to each other and which features would be evaluated. Second and third stage of the project methodology is covered by Section 3.1. Fourth, we collected primary and secondary data through intense research in press, internet, articles, personal interviews, etc. and bundled them into a template (see Appendix 2). Fifth, we evaluated and compared the collected data for analysing as result (section 3.3). Sixth, the results were interpreted to derive key messages and to test models (with what we have learnt in the MBA module on Entrepreneurship and Innovation Management) (section 3.4). At last, we felt responsible to use our findings for recommendations for the future of the LCC organisations and its entrepreneurs (Section 3.5). A conclusion covers the project groups lessons learned based on this project (section 4). 2. Groups Understanding and Theoretical Background Academic research and general knowledge gives us frameworks to investigate practical examples of entrepreneurs concerning the development of their business and of themselves as leaders. Hence it is important to point out what kind of understanding the group has in terms of business growth models as well as entrepreneurial personality and leadership. 2.1. Growth Models Our groups understanding of business growth is definitely not that growth is the shortest connection between the starting point and the current point of time. Growth demonstrates phases of business increase as well as of decrease, stability, crisis, and changes. One of the most used growth models was developed by Greiner (1972) who pointed out alternating phases of evolution (creativity, direction, delegation, coordination, collaboration) and of revolution (leadership, autonomy, control, red tape). Each phase of growth is followed by a crisis that necessitates a change in the way the founder manages the business if it is to move on and continue to grow (Burns 2007, p210). Churchill and Lewis (1983) developed a growth model covering five stages of existence, survival, success, take-off, and maturity. Very close to this is the five-stage model proposed by Scott and Bruce (1987) embracing the stages of inception, survival, growth, expansion, and maturity with focus on top management role, management style, and organizational structure. At least Burns (1996) suggested a four-stage model covering stages of existence, survival, success and take-off and summarizing the main business imperatives as a firm grows in terms of the orientation of the firm (à ¢Ã¢â€š ¬Ã‚ ¦) (Burns 2007, p218). After an evaluation of several models the project group decided to consider Greiners five phase growth model and five stages of business growth as the theoretical framework to compare our findings. 2.2. Leadership Our group understanding of leadership is that it is a relationship through which one person influences the behaviour or actions of other people. For our investigations on entrepreneurs we are aware that there is a difference between leadership and management. The 7-S framework used in strategic management provides a distinction that managers rely on strategy, structure and systems whereas leaders are concerned with the soft Ss of style, staff, skills and shared goals. A key questions discussed in this group was Is an entrepreneur a manager or a leader? At least he is both in one person. Hence it is valuable to consider both of an entrepreneur his managerial role as well as his leadership approach. Mintzberg (1990) classifies the activities of organized sets of behavior associated with a position based on formal authority and status. He points out ten managerial roles divided into three groups which are linked to the evaluations of this project in section 3.4. Regarding general approaches to leadership, we face in real business life, there is no mutual exclusiveness. Hence contemporary entrepreneurs may demonstrate several leadership approaches in one person. For this project, main leadership models of historic and contemporary research were to be considered, such as leadership as a behavioral category, the styles of leadership approach, the situational approach of contingency theories, the transformational leadership approach and inspirational or visionary leadership. 3. From Practice to Theory 3.1. Frame of Evaluation We decided that to ensure valuable evaluation, the industry of choice should be a young industry and it should provide industry and market growth within the last ten to thirty years, several start-ups associated with single entrepreneurial idea, and some industry consolidation. To bring in domain knowledge, we discussed that the whole group should be familiar with the industry either as customers or as managers working in that industry. At last we decided on the Low-Cost-Carrier (LCC) Industry since we all are frequent customers and one group member is in charge of a full service airline in a leading management position. 3.1.1. The Low Cost Carrier Industry A low-cost carrier or low-cost airline (also known as a no-frills, discount or budget carrier or airline) is an airline that generally has lower fares as compared to full service airlines like British Airways, KLM, Air France, Lufthansa, American Airlines, etc.. To make up for the revenue lost in decreased ticket price, the airline may charge for extras like food, priority boarding, seat allocation, baggage etc.. The key characteristics of LCCs are multiple frequencies on a short/mid haul sectors, quick turnaround, secondary/tertiary airports, offerings in economy class only, usage of web/call centre based reservation system and not the GDS (Global Distribution systems), no food and rarely any loyalty programme. Low-cost carriers should not be confused with regional airlines that operate short flights without service, or with full-service airlines offering some reduced fares. The reasons why LCC airlines came up in practice dates back to 1960s. Until late 1960s, travelling by air was restricted to the higher classes of the society. Only from 1960s, it percolated to the upper middle class, as costs came down and the fuel prices were low. There was increased demand for the huge middle class to travel by air if the same became cheaper. This underlying need was captured by the entrepreneurs in the form of Low Cost Carriers which was pioneered by Southwest Airlines in USA and was replicated in different ways all over the world. The momentum gathered steam with the increased globalization and integration from 1980s onward. The regulatory regime defined by agreements between countries or regional groupings became more liberal and the frequencies of flights increased bringing the overall cost platform down. Further, the cost of the aircrafts and air travel came down due to the technological improvements leading to lower cost at higher volume. The technological strides in ICT (information and communication technology) brought the booking system of the airlines at the doorstep of the passenger. He could be sitting in his environment, book a ticket, choose his own seat and print a boarding card. This reduction in costs due to technological innovations opened up an opportunity for LCC to establish its foothold by cutting on costs at different steps of its supply chain. According to Vesper (1990) the LCC industry demonstrates execution of two business entry strategies. Firstly, the strategy to develop a better product or service which is appropriate because of unsatisfied demand in terms of cheap flights providing no frills. The established competitors on the carrier market such as British Airways, KLM, Lufthansa etc. reacted against these new entrants but more or less very late. Hence some LCC airlines already established their own operations. Second, the strategy to meet supply shortages, particularly on the short-haul marke t, there was a market parallel to the railway industry. Currently, in spite of demand and supply in balance, some LCC airlines maintain their competitive advantages and continue to drive the market. Since there were numerous LCC airlines operating globally (Appendix 1), considerations in deciding for LCC airlines to be investigated were to ensure diversity over different geographical markets to emphasise on a whole industry in terms of entrepreneurial behaviour and availability of information. We decided on 5 airlines as mentioned in table 1. (Please refer to Appendix 2 for data). Table 1: Companies and entrepreneurs to be investigated 3.1.2. Key Evaluation Features Burns (2007, p30) points out four different influences on owner-managers and entrepreneurs. Whereas culture of society and situational factors are not the focus of this project, personal character traits and antecedent influences were investigated to draw a picture of the individual background of the entrepreneurs. In addition we looked at individual leadership approach. In terms of organizational development and business growth we focused on five milestones (Table 2). Table 2: Key features to be evaluated on chosen entrepreneur and his LCC airline. Derived from the collected data based on the key features described above, three main issues were investigated to ensure a solution on growth models and associated leadership approaches in the LCC industry at least: Why did they succeed whereas so many after and before them failed? Development of the culture in the organization if any Recommendations for the future 3.2. Data Please see Appendix 2 for the secondary data that were gathered through research on internet, press and media, newspapers, and television. 3.3. Results The key question for description and interpretation of the results is Is there any pattern or consistency over all evaluated LCC airlines or not? In terms of the investigated background and leadership of the founders Burns describes antecedent influences on an entrepreneur which are most likely to result in them successfully growing their business (2007, p45): Well-educated: Two (Air Berlin and Ryan Air) of five investigated entrepreneurs do not have any academic graduation whereas the other three entrepreneurs have diverse degrees from Bachelor to Honorary PhDs. But all of them already had broad and in-depth managerial and professional experience at the point of time of idea generation. Starts business because of positive motivations. All entrepreneurs had positive motivations towards their own idea and were convinced strongly that their business will be successful and will grow. Leaves managerial job to start business: This was found to be different. Although all entrepreneurs had managerial experience before, their prevailing last step before becoming an entrepreneur in LCC industry was distinct. One was unemployed (Air Berlin), two had their own business (Southwest and Easy Jet), one was manager in the same LCC organization (Ryan Air), and one (Air Asia) was manager in a different industry. Middle-aged (or very young?): We found a range between 28-40 in the age of the entrepreneurs for the point of time of the businesses starting point. They were 28 (Easy Jet), 30 (Ryan Air), 37 (AirAsia), 40 (Air Berlin), and 40 (Southwest) years old. Obviously no one entrepreneur was close to retirement and no one was very young (begin of twenties or even younger). Willing to share ownership of business: All entrepreneurs shared ownership from the very beginning but in different ways and it is not obvious whether they had a general inclination to that or whether it was needed, e.g. to collect enough money for their start-up. In terms of personal character traits all of the following were founded as high in every investigated entrepreneur: Commitment, determination and opportunity obsession. Tolerance of risk, ambiguity and uncertainty. Creativity, self reliance and ability to excel. Most of the entrepreneurs pioneered the LCC model for their home market as first mover and developed LCC business models later. Control and rewards. We saw very strong control by the entrepreneur in all investigated organizations mostly aiming to bring down costs. In terms of values, ethics, beliefs and norms all of the entrepreneurs worked very hard (Everything for the company) and expected a similar inclination from their staff. In daily business they appreciate each resource and hence aim to be most efficient. Concerning leadership all entrepreneurs provided an autocratic and patriarchic style with strong control, centralized decision-making and high closeness to their employees. A vision is part of their leadership approach as well derived more or less obviously from their individual targets for their life. Honesty, reliability and action as an example are further aspects; they all practice what they preach. This remains even during the growth of their businesses but the entrepreneurs developed different leadership styles. Some tried to keep the autocratic style whereas others tended to be more participative but all of them kept strong control. According to a major research study of the University of Michigan Institute for Social Research, the most effective leader provides four common characteristics: Delegation of authority and avoidance of close supervision; interest and concern in their subordinates as individuals; participative problem-solving; high standards of performance. Except t he former and the latter we found all aspects in later stages of growth but not consistently and not whilst the inception stage. Regarding the motive for entrepreneurship, it is obvious that there is consistency in the way of idea generation. In all of the five airlines, idea for LCC was generated by individuals. For Southwest and Ryan Air, there were more people involved in implementation in addition to idea generator. Two of the promoters (Air Berlin and Air Asia) were forced to choose entrepreneurship due to professional circumstances. There has been a considerable variance in the duration of the inception phase/ start-up. For example this phase in the case of Air Asia lasted for a year but for Air Berlin it took about ten years. But generally the other airlines exhibited a period of around five years. All organizations were run by the promoters except Ryan Air which had Michael Leary as its head due to the losses at Ryan Air. Financials were pooled by the promoters themselves but there was a variance in the financial capabilities from deep pockets to just enough money to make operations run for a year. Two of the entrepreneurs (Easy Jet and Ryan Air) had strong financial backing. In terms of environmental factors (PESTER) each airline had a different set of compelling factors. Due to the dismantling of the Berlin wall, airlines had a new segment opening up which was tapped by Air Berlin (political). Low fares attract more customers; try to wean away customers from other modes of transport tapped by all the LCCs (economic). The target consumer base for budget airlines was enormous: 500 million people live within three hours of Air Asias hubs in Kuala Lumpur and Bangkok, more than Western Europes entire population (social). Ryan Air started when there was a partial de-regulation changing the way the airlines flew (regulation). Consistency in all LCC airlines was evaluated in terms of delegation (highly centralized with all the major decisions being made by the promoters/funders), coordination (there was a very high level of coordination in three airlines while high coordination in two them), and control (in Air Berlin there was very high level of control, while in the other airlines it ranged from medium to high). For all the airlines the survival and growth stage has been a pretty long time except for Air Asia which has achieved tremendous growth in the few years of its start-up. In this stage the LCC airlines demonstrated some small distinct behavior. The delegation level increased during this phase of the business except in the case of Air Berlin which followed low delegation. Coordination was medium in Easy Jet while was high in the remaining four. Control was very high in Air Berlin, high in Southwest, Ryan Air and AirAsia, and was medium in Easy Jet. In four of the airlines original founder and management team are in place. The only exception is Easy Jet which had a CEO right from its start-up in 1995. This could be because the founder of Easy Jet had been a business man before this start-up and knew well how to delegate and where to focus. Clear patterns of consistency can be seen in that all the airlines went for IPO in this phase, thus showing the willingness of entrepreneurs to share the growth of the firm. Furthermore, all LCC airlines took equity stakes and formed alliances with other airlines. For example Air Asia formed a partnership with Shin corporation in Thailand, Easy Jet purchased a 40% stake in Swiss charter airline TEA Basle. The reasons were two fold one to take care of certain regulatory issues in their markets and secondly to help grow faster. In addition all airlines initiated cost cutting techniques to take on the competition. In the maturity stage the delegation level decreased for two of the airlines (Ryan Air and Southwest) in view of the precarious business model while continues low for Air Berlin. For Easy Jet and Air Asia the delegation level remains high. On the other hand coordination and control are on high level in all airlines. All the founders maintain a very high level of control on the overall strategy and functioning of the airlines. The external environment factors like the financial crisis, high oil prices, etc. have had the effect on the management structure and control mechanisms for majority of the airlines. There also have been roll backs on the investment plans. The promoters continue to hold power. Diversified equity base in terms of type of shareholders, further additional finances were raised through debt. We perceive a clear distinction in terms of strategy and business models. Except for Air Berlin and Air Asia which have a hub and spoke model, all the airlines offer a point to point service. All LCC carriers have the same configuration of aircraft but Air Berlin differs on this aspect too. LCCs achieve breakeven at much lower level of load factors (seat occupancy) than a Full Service Carrier. It has been observed that in all the LCCs, the primary focus is to have high load factor in order to make good profits. All the LCCs evaluated have a high on-time performance, offering customer the facility to make a reservation through web and call centre. Most of them have no prior seating arrangement and have additional charges for check-in baggage. Meals on board are charged and no refund is applicable in case of a missed fights. All the LCCs are deriving good revenue from ancillary service offerings like hotels, cars and other packages through their website. All LCCs except Ryanair do worry about customer complaints and feedback. Ryanair has a bad name in terms of customer service and misleading statements to gain publicity. Loyalty in their targeted segments is driven by the overriding need for cheap travel, good timings, multiple frequencies and lower expectations in terms of customer service. Few LCCs like Southwest Airlines, Air Berlin provide a rudimentary loyalty programme in terms of facilities and privileges to its members when compared with a Full Service Carrier, but it is enough for the targeted segments expectation We can summarize all the above LCCs on a continuum which depicts a pure LCC on the left side and a Full Service Carrier on the extreme right. Figure 1: Continuum of LCC Airlines 3.4. Derivations There is clear differentiation in the development of culture in the organization. Air Berlin exhibits an autocratic culture which is represented through its boss. Air Asia exhibits the culture of its boss too, open and cheerful. Southwest and Easy Jet exhibit a less hierarchical structure, full of freedom to the employees while Ryanair exhibits a culture in between the spectrum. Ryanair is process driven organization with little freedom to employees for decision making. Important decisions are highly centralized. It has grown so much that if he centralizes any further, the structure cannot sustain it. Hence there is no consistent pattern among these airlines from cultural perspective. However, we can definitely say that culture in these organizations is a reflection of the leadership behaviour of the founder entrepreneur. Nevertheless all the evaluated LCC airlines did succeed so far whereas so many after and before them failed. Reasons for this can be seen in this project work. During inception stage there is consistency in high level of delegation, coordination and control. All entrepreneurs had been able to recognize and to deal with the most important and influencing environmental factors on their home markets. All the airlines focused on cost leadership as a competitive advantage and made concrete efforts to mitigate the risks. Air Berlin formed subsidiaries to do away with labor unions. Air Asia formed a JV in Thailand with the Thailands Prime Minster family business to keep the political risk in check. The use of standard aircrafts to the extent possible and internet check-in as the model of bookings were part of the scheme to reduce costs. Hence the evaluated LCCs can be depicted as follows on five stages of business growth. (Figure 2). Figure 2: Five Stages of LCC Business Growth With reference to figure 2, we can consider that LCC is a product being sold by these airlines. There has been no basic RD on this product by any of these airlines. What they have done is to do applied research on the basic model of airline travel, to bring out LCC. Southwest Airlines pioneered this in the USA followed by modified versions of this by other airlines in other geographies. The trend in the figure 2 demonstrates that the growth of LCC has followed five stages of business growth, with the corresponding time taken by them for each phase and how the efficiency has changed. However, they are at different stages for example Southwest, Easy Jet and Ryan Air are in the expansion stages hitting the maturity stage in the current model, while Air Asia and Air Berlin seem to be in Growth/ expansion stages. Now the LCC carriers are facing competition from the full service airlines. This is because, full services play airlines are planning certain percentage of their seats at low p rices to compete with LCCs. Hence the efficiency of the LCC product sale for our sample airlines has reached a plateau. Now the time has come for the LCC carriers to apply development RD to give an S curve to this trend to modify the features of the product LCC. Different LCC airlines are doing this in different ways, e.g., Ryan airlines are cutting all possible costs, Easy Jet has targeted business passengers, Air Berlin wants to do everything possible for a good customer services, etc. This fits with the assertion of Schumpeter (1950), in that the technological progress can be seen as a continuous process in which capitalism constantly demands better value. Figure 3: LCC Airlines in Greiners Five-Stage Model of Growth (source: Greiner 1972) When we try to review (figure 3) the leadership and management styles within these five airlines vis-à  -vis, our finding is that it largely reflects the leadership style of the founder entrepreneur than the stages of Greiners five phase growth model. For example, Easy Jet and Southwest demonstrate collaboration in their management style, while Air Asia is in between the control and collaboration stages. Air Berlin and Ryan Air has high level of control and less delegation. Figure 4: Key Resource Factors in the Stages of Growth for LCC With reference to figure 4, we have reviewed the resource requirement of the five LCCs. All the five airlines display that they had the resource requirements (financial, business, system and personnel resources) for different phases of growth as shown in this figure. For example, airline being an asset intensive business, they all had huge capital requirements at the start-up. They used a combination of models to meet their requirements leasing aircrafts to purchasing them during start-up and survival phases. But in subsequent stages, they all followed the same strategy owning aircrafts. To reduce on cost, Ryan Airlines had purchased old aircrafts also which was criticized by Easy Jet as cutting corners on safety aspects which could hit the LCC industry in case there were any problems to happen. With regard to figure 5, we see that there is a commonality between what was practiced in different environments globally and the typical 5 stage growth model linked to leadership. Initially, in the start-up stage, everything is centralized and business and personal goals are the same for entrepreneurs which get decentralized, delegated and a formal structure coming in at the expansion and maturity stages. The financing is done primarily through personal resources initially which later on is internally generated and additionally through tapping of the stock markets and taking on debt from banks. As most have avenues for growth, they do not follow an active dividend policy and reward shareholders through capital appreciation Figure 5: Key Management Factors in the Stages of Growth for LCC Derived from our evaluation the entrepreneurship model on antecedent influences, personal character traits, and leadership approach can be illustrated only for the stage of idea generation and inception (see Figure 6). Figure 6: Model of entrepreneurial antecedent influences, personal character traits and leadership approach in the stage of idea generation and inception for LCC Most important is that the autocratic leadership approach (Tannenbaum and Schmidt 1973) is dominant which is in close relation to McGregors supposition of Theory X (boss-centered leadership) in contrast to Theory Y (subordinate-centered leadership). The contingency model of leadership by Vroom and Yetton (1973) covers the evaluated leadership behaviour as Autocratic I and II. Bass (1985) points out four basic components of transformational leadership. First, idealized influence (leader charisma, respect of followers), second, inspirational motivation (display meaning and challenge to the work of followers), third, intellectual stimulation (new approaches for solutions, creative problem solutions), and fourth, individualized consideration (leader listens and provide concern to needs and development of individual followers). For the last two points the autocratic style of LCC airlines seems to be a contraindication. Yukl (2006) formulates some guidelines for transformational leadership which cover the results of our investigations: Articulate a clear and appealing vision, explain how the vision can be attained, act confident and optimistic, express confidence in followers, use dramatic, symbolic actions to emphasize key values, and lead by example. This is very close to inspirational or visionary leadership. Here the focus is on leaders skills of motivating and inspiring people aiming to bring together goals and values of the organization and individual needs and values. Particularly in the stage of idea generation and in the inception stage the entrepreneurs took all ten managerial roles which Mintzberg (1990) pointed out. The entrepreneurs took a figurehead role (the manager as a symbol who represents the organization in terms of formality), a leader role (demonstrating responsibility for staffing, motivation and guidance of subordinates) and a liaison role (with focus on horizontal relationships between manager and individuals/groups as well as the organizations environment). In terms of informational roles we found the entrepreneurs in a monitor role (the manager receives formal/informal information from internal/external sources and develops an understanding of the working of the organization and its environment) as well as in a disseminator role (the manager as centre of information who transmits external information through his liaison role (see above) to the organization and internal information through his leader role amongst subordinates) and in a spokesperson role (the manager as a formal authority communicating to distinct stakeholders). And even in terms of so called decisional roles all en trepreneurs were very active. Here we saw the entrepreneurs in an entrepreneurial role (he is expected to initiate and plan controlled change by exploiting opportunities, solving problems and taking action for improvement of an existing situation and he may play a major part in aiming improvement and delegate responsibilities to subordinates), in a disturbance handler role (the manager reacts on involuntary and unpredictable situations and he is expected to correct a situation in case of unexpected disturbance), in a resource allocator role (the manager makes choices about resources allocation) and least in a negotiator role (this role arises from managers authority, credibility, access to information and responsibility for resources allocation and the manager participates actively in negotiation with stakeholders, e.g. works council). 3.5. Recommendation for the Future We clearly see that future growth in LCCs will be through collaboration with other LCCs and full service carrier. In other words, Southwest will grow collaborating with full service carriers like United, American, and Lufthansa and vice versa. Though the early stages of growth were in different segments , having established in their own markets, both LCCs and full service carriers are moving towards the middle of the continuum and we will see increased collaboration between them in future. Also the majority of the airlines are deliberating entering the lo

Savannah :: Personal Narrative, Descriptive, Description

As I walked into the hot, sticky gym to say goodbye on the last day of the summer at Camp Glenn Taylor, the air seemed to be trying to smother me. Outside, the rain was bouncing off the sidewalks, keeping the campers inside that day. The kids didn't notice me at first. They were too busy chasing each other around the gym with the frenzy of being trapped indoors for a day. Then, someone spotted me, and I was suddenly swarmed by hugs coming from all directions. Wriggling through the arms of the other campers was Savannah. She buried her dirty, snot-covered face into my side. I chuckled to myself, remembering my first day with her three months ago. The counselors had decided to take the campers for a hike. We corralled them into the cabin and instructed them to apply bug spray because of all the mosquitoes in the woods. Left and right, little fingers squeezed out the spray, gradually covering each body. But not the mischievous Savannah. No, she insisted upon carrying her bug spray with her and zapping the mosquitoes in mid-air. Unfortunately, this also generated a large quantity of insect repellent into the air. Every time I took a breath, my lungs were filled with noxious fumes. I could taste the bitter air on my tongue. It stung my eyes. "Savannah," I called, "Stop using that bug spray! It's making me sick!!!" Savannah scampered behind a tree, and I could hear the "sssssss" of the aerosol can. "Savannah, I'm warning you, leave that can alone. Either put it on your body or give it to me. Do not spray it into the air again." Before I'd hardly finished my last sentence, Savannah was bolting down the trail ahead of me, out of sight. I let out a sigh of exasperation. The summer ahead of me suddenly seemed to get longer. The most distinctive feature of Savannah, besides her ornery personality, is her face. She looks like a sprite or a tree-nymph. She has a heart-shaped face, which is dark brown: a combination of sun tan from many hours of playing outside and dirty from the same thing. Her almond eyes are deep and dark, but almost always carry a twinkle of mischief. Her face is framed by long brown stringy hair that falls below her shoulders. Savannah is a girl of few words, in English at least.