Fallacies in a commercial Essay - 716 Words

‘Romney Killed My Wife’ In political races in the United States logical fallacies are a staple in political ads. The 2012 election was no exception to this convention, especially being true in an advertisement with ex-steel plant worker Joe Soptic, speaking in Obama-affiliated Political Action Committee Priorities. The advertisement included many logical fallacies to argue against the Romney campaign. Those include post hoc reasoning, ad hominem, and slippery slope. The advertisement consisted of just one man, Joe Soptic, an ex-steel plant worker, of GST Steel, speaking against Mitt Romney. He personally points blame on Romney for the death of his wife. He says that when â€Å"Mitt Romney and Bain closed the plant, I lost my health care,†¦show more content†¦In addition there was a caption in the video short after the previous statement by Soptic, claiming that â€Å"Mitt Romney and Bain Capital made millions for themselves and then closed the plant.† This is implying that Romney and Bain Capital are greedy. This has no relation to the topic of Romney’s political views and is merely an attack on character. Furthermore the advertisement ends with Soptic stating that he does â€Å"not think that Mitt Romney is concerned† about the well being of workers of the plant. The last piece of logical fallacy that is present in the advertisement of 2012 is slippery slope. This is when it is asserted that one event will inevitably be followed another with question or argument. Slippery slope is implied in this advertisement in the way that if Romney is in charge, he will shut down businesses, which will disable people to receive health insurance, which will cause many deaths. This is improbable in the way that one event does not necessarily cause the other and predominantly, is highly unlikely. Logical fallacies are common in the political races in the United States, whether they’re in advertisements or in a speech given by a candidate. During the presidential election of 2012, logical fallacies seemed to be moreShow MoreRelatedFallacies : A Logical Fallacy1741 Words   |  7 PagesA logical fallacy is false or misinforming opinions that prove nothing. At times fallacies seem to be sound, and often have lots of persuasive control, even after it’s undoubtedly exposed as being untrue. Fallacies are not always deliberate, still yet we find them all over the place, like commercials for an example. Though there are several logical fallacies, four logical fallacies generally found in advertising are amphiboly, appeal to authority, appeal to emotion, and non sequitur (logic). FallaciesRead MoreInformal Fallacies Of An Informal Fallacy912 Words   |  4 Pagesads and television commercials is called informal fallacies. The purpose of an informal fallacy can be to en act reactions from the audience, used to discredit a person or lastly appeal to a certain outlook. They mainly lack the validity in order to prove their argument. The media provides us with many scenarios using different forms of informal fallacies. I will provide three notable examples of informal fallacies by explaining the type of fallacy and why the media used this fallacy. To start off, IRead MoreHow A Snickers Bar Is The Best Of Its Class1389 Words   |  6 Pagesthat is what Mars strives to convey in their commercials. Specifically, in Mars’ Snickers commercial that features Betty White, the candy bar is portrayed as the leading option when it comes to satisfying hunger. In addition, Mars plays upon the extreme notion that, by consuming a Snickers bar, you will become a better you. Unfortunately, in the process of convincing its audience that it is the best candy bar in its class, Mars commits logical fallacies, such as hasty generalization, a false dichotomyRead MoreAn Analysis of the Rhetorical Elements of Political Campaign Advertisements 1067 Words   |  5 PagesIt is very common among the United States’ political sphere to rely heavily on T.V. commercials during election season; this is after all the most effective way to spread a message to millions of voters in order to gain their support. The presidential election of 2008 was not the exception; candidates and interest groups spent 2.6 billion dollars on advertising that year from which 2 billion were used exclusively for broadcast television (Seelye 2008.) Although the effectiveness of these advertisementsRead MoreFallacies in Advertising991 Words   |  4 PagesFallacies in Advertising According to Bassham et al. (2002), a logical fallacy is â€Å"an argument that contains a mistake in reasoning† (p. 140). There are two types of logical fallacies, fallacies of relevance, and fallacies of insufficient evidence. Fallacies of relevance happen when the premises are not logically relevant to the conclusion. Fallacies of insufficient evidence occur when the premises do not provide sufficient evidence to support the conclusion. Though there are several logical fallaciesRead MoreCritical Thinking - Fallacies1249 Words   |  5 PagesThe significance of fallacies in critical thinking is important to understand so that clear and concise arguments can be made on a logical, factual level instead of one that is proliferated with emotions and illogical reasoning. The basis of these fallacies are dependent on critical thinking according to discussions in which the parties may not agree on a situation or one element is attempting to convince another of making a decision. The point of this type of disagreement is to give reasons inRead MoreHilary Vs. Trump : A Battle Of Character1056 Words   |  5 Pagesrepresenting the democratic and republican parties, respectively, and fighting over the vote of each American. Commercial advertisements are an effective medium by which Clinton and Trump communicate with the people. In â€Å"Unfit†, the commercial for Clinton, various sources damning Trump are played in addition to footage of the republican candidate, arguably, at his worst. Meanwhile, the commercial from Trump’s campaign, â€Å"Two Americas: Economy†, depicts two distinct versions of America’s economic future:Read MoreA Research Based Marketing Campaign For The Meth Project- Meth1265 Words   |  6 Pagesthe fallacy of slippery slope in the sense that th ey typically assume something about their targeted audience that is not necessarily true. According to the Logical Self Defense book, the fallacy of slippery slope focuses primarily on the sense that â€Å"if we do/allow A, it will set a precedent that will justify doing/allowing similar actions (B, C, and so on). B, C, and so on are undesirable, therefore we should not do/allow A† (184). A specific example of this is one of the meth commercials thatRead MoreEssay on logic852 Words   |  4 Pages Logical Fallacy Essay Magazine ads and commercials are the best ways to sell things. Their main goal is to sell the product and find the best ways to do so. First there is a product and then there is a setting for the product. By trying to bring these two aspects together logical fallacies are formed. For example comparing a comb to a porcupine, which is a false analogy. Through analyzing these magazine ads I will present the logical fallacies within the ads. These ads are from the OctoberRead MoreWeigth Loss Programs: The Truth behind Fad Diets1179 Words   |  5 Pagesday there is an advertisement that comes on during commercial breaks when watching television or when listening to the radio about some diet supplement or diet plan as known as â€Å"Fad Diets†. Just what are Fad diets? Fad diets are any weight loss plan or supplement aid that promises to produce dramatic weight loss in a very short amount of time and that they are easy to follow and require very little to no exercise. Companies use logical fallacies when marketing their product to help inform or persuade

Customer Relationship Management A Strategy Of Managing...

CRM is Customer Relationship Management: A strategy of managing customer relationships based on the integration of customer information throughout a company in order to achieve maximum customer satisfaction and retention. CRM process is to collect, store, and analyze customer interaction information (customer knowledge), transforming the practice of marketing research. Marketing intelligence: The use of real-time customer information (customer knowledge) to achieve a competitive advantage. In short, Market Intelligence seeks completive advantage based on real-time customer information. MI begins with the nation of customer knowledge, a company cannot meet its customer needs and wants and thereby offer value, unless it understands the evolution of the customer. Customer Knowledge –What kind of relationships will add value will add value to customers-loyalty programs, Value perception of the customer segment and how can the value be enhanced. To create customer profiles includes customer profiles customer demographics, psychographic data, and direct and indirect communications with the company in order to develop product, service offerings, marketing campaigns, growth and retention. Granular data-Highly detailed, highly personalized data specifically structured around an individual customer. Big companies embrace the vision and long –term goal of capturing and retaining customers. With granular customer information, market intelligence helps them and other companiesShow MoreRelatedCustomer Relationship Management ( Crm )1583 Words   |  7 PagesTheoretical Study Chapter 2 : CRM study 2.1 Defining CRM Customer relationship management (CRM) is an approach that company’s use to manage, analyze and interact with customers. It refers to the practices, strategies and the technologies used by companies to understand the customer’s needs and behavior in order to create and build relationships with customers and to follow them throughout the customer lifecycle with a focus on increasing retaining customers with driving the sales growth. The idea of aRead MoreCustomer Relationship Management : A M University Commerce1056 Words   |  5 Pages Customer Relationship Management Courtney Crouthers Texas AM University-Commerce Customer Relationship management is the strongest and the most efficient approach in maintaining and creating relationships with customers. It is an upright concept or strategy to solidify relations with customers and at the same time reducing cost and enhancing productivity and profitability in business. CRM is not only pure business but also ideate strong personal bonding within people. There are twoRead MoreThe Blossoms Garden Center ( Bgc )1521 Words   |  7 Pagesexamines a number of strategies could be used efficiently and effectively in BGC. Finally, it will evaluate those strategies that appear to yield the best results. 2: Problems for BGC During the developing process, a number of problems in BGC increasing broadly such as customer service quality, managing operation, internal relationship and finance. Specifically, managing external relationship is a significant problem for the company. According to Casledine (2015), customers are the heart of anyRead MoreCompany and Marketing Strategy: Partnering to Build Customer Relationships1465 Words   |  6 Pagescompanywide strategic planning in its four steps 2. Discuss how to design business portfolios and develop growth strategies 3. Explain marketing’s role in strategic planning and how marketing works with its partners to create and deliver customer value 4. Describe the elements of a customer-driven marketing strategy and mix, and the forces that influence it 5. List the marketing management functions, including the elements of a marketing plan, and discuss the importance of measuring return on marketingRead MoreSemaconnect Is The Leading Provider Of Electric Vehicle Amenities For The North American Commercial Residential Property Market Essay1229 Words   |  5 Pagespursued a strategy of aggressive RD to develop new products as well as process improvement and cost reduction measures. SemaConnect has aggressively marketed the superior performance of their products which has allowed them to gain market share at an impressive rate. Governor O’Malley announced his Smart, Green, and Growing legislative agenda in 2009, acknowledging SemaConnect as a Maryland-based company that develops and produces networked PEV charging stations and station management software.Read MoreCustomer Relationship Management As A Philosophy1253 Words   |  6 Pages1.1 Background Customer Relationship Management as a Philosophy started in the 70s. Peter Drucker, a well-renowned management consultant, stated that The true business of every company is to make and keep customers. Today, the concept of CRM has grown in a global scale. Companies have evolved to focus products solely based on customer’s demands. Over the years, the CRM model does not limit to just being about customer centric but also to use customer profitability as a catalyst in making decisionsRead MoreSales, Communication, Client Relations, Business Development, And Account Management916 Words   |  4 Pagesyears of comprehensive experience offering leadership in advanced Sales, Marketing, Analytics, Client Relations, Business Development, and Account Management. While I worked with Kraft Heinz for twelve years, the last position was as a sales and business development manager successfully managing multi-million-dollar distributors and key account customers. The products included s elling ketchup, condiments, sauce categories along with portion control and frozen soups. The territory encompassed GeorgiaRead MoreDifference Between A Consumer Market And Business Market949 Words   |  4 Pagesmarketing strategies in order to attract business. In addition, both should have a good focus on new-product development and identifying new trends in order to attract costumers and businesses. One difference in between the consumer market strategy and the business strategy is cost. The individual consumer wants a lower price, but many are more concerned about the value they receive. For a business, providing the lowest cost is extremely important in order to keep a business relationship. It isRead MoreSummary Kotler Keller1275 Words   |  6 Pagesfunction and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. Marketers are skilled at managing demand: they seek to influence its level, timing, and composition for goods, servicesRead MoreCustomer Relationship Management ( Crm ) Practice1497 Words   |  6 Pages To find the most profitable customers in Customer Relationship Management (CRM) practice is an ongoing process where many companies fail to deliver the answer. This paper outlines various definitions of CRM, strategies, processes and the use of technology along with the various paradoxes that accompany Customer Relationship Management. Defining CRM is not straight-forward as there are numerous definitions, taking three recent definitions the basic framework of CRM is, an overall process of building

Managing Sustainable Growth Rate

Question: Discuss about the Managing Sustainable Growth Rate. Answer: Introduction: A public listed company is a business entity whose ownership is divided among public who buy its shares on the stock exchange platform (Boyett 2013). Companies Act 2013 u/s 2(71) defines a public company as one which is not a private company and has a minimum paid up share capital of Rupees five lakhs (Mca.gov.in 2017). Tata Motors is an Indian public limited company which has a global presence lead by able CEO and CFO. This assignment is a study of comparison between CEO and CFO in a public limited keeping Tata Motors in the light and the external and internal factors these two officers have to deal with. The next section is a study of key financing strategy during 2001-2002 and 2004 and its affect on maximizing the wealth of the shareholders. Chief Executive officer (CEO) and Chief Financial Officer (CFO): A chief executive officer is the highest executive officer in a public limited company whose main job role is to take important decisions and managing the working of the entire company. He also communicates between the board of directors in which he may have a position and the operation wings of the company. A chief financial officer is a corporate officer primarily empowered to take financial decisions, planning and financial reporting. He also looks after risks and presents the financial analysis before the CEO and the board of directors. The CFO takes part in budget management, cost benefit analysis, forecasting needs and sourcing of funds. The CEO and CFO are very important positions in a public limited company having their own areas of operations. The main difference between the two is that the CEO is the highest operations officer in the company whereas the CFO is head of the finance department. The CEO reports to the board of directors and above while the CFO reports to the CEO, board of directors or to the president of the company. However, both of them have positions of strategic importance and may be in the board. A CEO being the top executive in the company has to take decisions in all matter like human resource, financial matters like risk and funding, board administration and acts as a communicators to the board of directors. The CFO, being the top financial officer of the company advises the CEO and the board about the financial aspects of all these areas. The CEO and the CFO are top officers in a public limited company like Tata Motors and are affected by various internal and external environmental factors and take crucial decisions about them. The present CEO worldwide is Guenter Butschek and the position of CFO is held by Chandrasekaran Ramakrishnan. Internal business environment factors: The strategic strength of the employees is the biggest internal business factor of a company. Tata Motors should recruit eligible candidates as its employees should train them regularly to improve their knowledge. The management should evaluate the employees from time to time and reward them with promotions and awards to recognize their efforts. It must also try to motivate and give further training to weak employees to bring improve their performance. Tata Motors should practice a healthy and ethical organizational culture to promote a positive job environment for all (Goetsch and Davis 2014). Tata Motors today caters to the world market and has proved its competitive strength by acquiring Jaguar Land Rover from Ford Motor Company. It has competitors like Toyota, Mahindra, Ford and Ashok Leyland (Kumar and Bhatia 2015). This necessitates continuous innovation in all aspects like vehicle designing, pricing and competitive planning to stay ahead of its rivals both within India, its home country and abroad (Porter, Cunningham and Sanz 2013). Innovation is driven by technology and is a continuous process. The RD wing of Tata Motors situated in India and UK are trying to introduce cars like Zest and Bolt which allow customers to choose between driving mode depending on their requirements (Tatamotors.com 2017). External factors affecting Tata Motors External factors or macro economic factors are those factors which are beyond a companys control and is summed up as Political, Economical, Social and technological abbreviated as PEST. Tata Motors is an Indian multinational car manufacturing company which has presence in several countries and has huge market strength. The company should be aware of the political systems prevalent in various countries in which it has its presence. Tata Motors is a multinational car manufacturer having presence in segments goods carrier, family cars and utility and emergency vehicles. Its customers profile consists of state governments, the ministry of defense, manufacturers, fire and safety services and house hold. This makes the company open to various types of taxation types and slab. Tata Motors should be aware of the tariffs and duties of each market and also international laws. The company should be aware of laws relating to land, labour and all other aspects of its business (Yadav 2013). The huge market of Tata Motors and the size of the company present a huge challenge for the CFO and CEO. They should be aware of all the political factors, national as well as international and make policies according to them. The CFO should frame business models which the company should follow to take the advantage of political factors around the world. Tata motors have presence in countries with varying economic conditions. It has to take into consideration the purchase power of the customers of a particular country to decide on the products, pricing, promotions and all other aspects (Stobart 2016). The CFO should study the various models related to pricing and discuss the matter with other departments like RD and marketing to choose the best model. The CEO too has a significant role to act according to the CFO and best arrive at the decision that will guide the entire organization. Inflation is affecting the most of the big countries leading to fall in currency value and increase prices (Johnson 2014). The company is also affected by changing currency exchange rates and other international laws relating to finance. The tough economic condition poses a very tough challenge before the two top officers as they have to choose the best investing and funding options. The per capita income of a country is directly related to infrastructure, technology, employee productivity, lifestyles and purchase power of the people. For example, an expensive car like Land Rover will find more customers in the UK than in a poor country. The decision is a crucial thing affecting not only the Tata but the entire market. A right economic strategy can create a milestone whereas a faulty decision can cause a huge loss. Cars are not only a necessity but also a symbol of status, have got religious implications and also a product financed by loans at present. People buy cars during festive occasions and consider it auspicious. The banks also give loans at relaxed interest rates during this time (Fuller 2016). Tata Motors should time the production as per the period and price them according to the various financing options available. The CFO and the CEO can also consider engaging the financial services verticals like Tata Finance and Tata AIA Life insurance during this time to attract buyers. The entire automobile industry is dependent on the progress of science, technology and innovation for its existence. It can also be pointed out that all the countries where Tata Motor operates do not have equal level of technological advancement and entrepreneurial advantage. This factor plays an important role in product designing and pricing. It can also acquire ancillary units in various countries to get access to local market and gain control over it. Moreover, taking over local ancillary unit ensures easy repair and maintenance services to the people, thus increasing customer satisfaction and boosting sales. The CEO and the CFO should allocate high resources towards technological development because that is very crucial to the very existence of the firm. New products at affordable prices ensure customer satisfaction giving a competitive advantage to Tata. The Key Financing Strategic Decision: Financing plays a key big role in deciding the goal and performance of a firm. It finds importance in every strategy and plan and deals with the best utilization of the limited resources. A proper finance decision depends on the coordination and cooperation of all the administrative levels and departments. It finds application in various areas like human resources, accounting and finance functions. Free cash flow is the indication of the financial soundness of a company and its ability to utilize its financial resources to generate future profits. An increase in cash flow increases working capital which is important for the operations of the entire company. A steady flow of cash allows a firm to invest in research and technology, employ quality human resource and financing (Bollerslev, Xu and Zhou 2015). The company has always gained expertise in allocating its resources in key business areas under the leadership of its CFOs and CEOs A proper financial strategy includes choosing the best financing options so that the firm can ensure steady production. This would increase market penetration, customer satisfaction and competitive advantage earning economic value to the firm. Tata Motors incurred heavy losses in 2000 due to low demand. However, it increases profit in2001 by introduction of light, medium and heavy commercial vehicles. This jump would not have been possible with the engineers and the steady financing. Thus, it can be pointed that a experienced CFO ensures continuous flow of funds to keep operation going on and increase the wealth of the company through profits. Tata Motors has presence all over the world which means it has to manage a vast fixed and current assets. Assets are used to run the business and consist of land, furniture, vehicles, cash, accounts receivable and even stock of goods. Tata Motors has offices and factories all over the world, so it has to decide how much asset it should allocate in which location and to what extent so as to ensure production.. It should ensure that the assets in a particular location should be too excess and nor too scarce to run the business (Campbell, Jardine and McGlynn 2016. Fixed assets depreciate and have to be replaced. The CFO should decide the pattern to dispose and write off these assets from the books of accounts in the most appropriate method (accrual, straight line and so on) (Archibald 1967). Another important thing about asset management is acquiring assets from the best sources at the best price (Buckley et al 2016). The success of a company depends a lot on its capability to control i ts assets. Current assets consist of liquid cash, inventory, cash in bank and accounts receivable or sundry debtors. Current assets like cash come from funding in various forms, investments and from various other sources. The company must choose the appropriate method of financing and also be aware of the various financial institutions and their rules. The company must set up ware houses to store the inventories (Raw material, WIP and finished goods). It can again choose whether to set up its own ware houses (an asset) or rent one (expenses) (Roth and Sims 1991). Financing decision and capital structure- Tata Motors being a multinational company requires continuous finance and expasion of business. It should decide on the capital structure. This decision also includes the extent of mechanization meaning, how much human resource it should use. Capital refers to the assets, both current and fixed and investments which are required for the day to day working of the firm. The firm can choose human resource for production or mechanized production. The way of production and financing will affect accounting. For example, loan will increase liabilities whereas investment will increase assets. It can choose between debt financing like debentures or in any other form of capital structure. The jump back of 2001 stated before in fact, helped Tata Motors to pay back its previous debts. Thus, a proper financing strategy does not only allow a firm to earn profits but also pay back debts. Risk management and assessment: The capital structure and the financing modes decide the flow of funds for continuous operations. Tata Motors has vast assets, employee hundreds of people, is affected by PESTEL and has to pay huge amount of taxes. (Rachet 2014). The company is also faces stiff competition worldwide. These factors make the job of risk management by CFO extremely challenging. There is a need to assessment the various types of investment and business expansion which are subject to risks. There should also be measures to assess and manage the risks. The job of CFO is to assess and analyze the risk and choose the best tool to control these risks for operation (McNeil, Frey and Embrechts 2015.). This also affects the books of accounts. A strong risk management gives financial strength and stability to the business. TATA Motors has increased its presence in the markets of Europe, Africa, Australia and Middle East with revenue of more than USD 4 billion. The company has concentrated on meeting the requirements of these markets to get a deeper market penetration. This strategic move of expansion will require the involvement of the CFO and the CEOs. Thus, the expanded market will allow TATA Motors to diversify the business risks over its international market. Tax Management: Tata Motors entered global markets in 2004 under leadership of its CFO Praveen Kedle. The CFO has to decide on the tax planning and tax management strategies to minimize tax liability since it leads to erosion of cash. Tata Motors continuously expands its business by acquisitions and joint ventures. For example, Tata Motors entered joint venture with Marco Polo with 51% and 49% shares respectively to manufacture buses (da Rocha, Arkader, and de Ges 2015). This dynamic expansion faces various types of taxes increasing the tax liabilities (Patnaik 2014). The CFO should do tax planning both for short term and long term. He must also ensure that the company complies with various income tax rules and structures so as to avoid penalties. Tax planning includes tax management and goes a long way in reducing the tax liability (Graham at al. 2013. Thus it helps in increasing current assets of the company thus showing an increase of resources in the books of accounts (Stein and Vadlamudi 2013). The CFO has immense role to play that TATA is able to minimize its tax expenses and get more favorable business concession from the government Influence of financial planning on goal achievement: The ultimate mission to set up a business is to earn profit by controlling the risk factors. Tata Motors is a public limited company having a global market whose ownership lies in the hand of the share holders. CFO and CEO are contract employees who are employed to control the strategies of the company to maximize shareholders profit. Finacial decisions regarding asset management, risk management and the other factors the operation and profit making ability. CFOs like Praveen Kadle can help even a global giant like Tata Motors to turn around with their expertise, pushing the limits attitude and minutely crafted strategic moves (Lessard, Lucea and Vives 2013). Conclusion: It can be summed up from the above analysis that Tata Motors is a global company exposed to various external and internal business factors. The company has able CFO who makes financial strategies under the guidance of the CEO to keep the company ahead of its competitors. References: Archibald, T.R., 1967. The return to straight-line depreciation: An analysis of a change in accounting method.Journal of accounting Research, pp.164-180. Bollerslev, T., Xu, L. and Zhou, H., 2015. Stock return and cash flow predictability: The role of volatility risk.Journal of Econometrics,187(2), pp.458-471. Boyett, I., 2013. The public sector entrepreneur?a definition.International Journal of Entrepreneurial Behavior Research. Buckley, P.J., Munjal, S., Enderwick, P. and Forsans, N., 2016. Cross-border acquisitions by Indian multinationals: Asset exploitation or asset augmentation?.International Business Review,25(4), pp.986-996. Campbell, J.D., Jardine, A.K. and McGlynn, J. eds., 2016.Asset management excellence: optimizing equipment life-cycle decisions. CRC Press. da Rocha, A., Arkader, R. and de Ges, B.B., 2015. International expansion of Marcopolo (B): Manufacturing in the other side of the world.Journal of Business Research,68(2), pp.241-254. Fuller, G.W., 2016. Introduction. InThe Great Debt Transformation(pp. 1-24). Palgrave Macmillan US. Goetsch, D.L. and Davis, S.B., 2014.Quality management for organizational excellence. pearson. Graham, J.R., Hanlon, M., Shevlin, T. and Shroff, N., 2013. Incentives for tax planning and avoidance: Evidence from the field.The Accounting Review,89(3), pp.991-1023. Johnson, H.G., 2014. World inflation, the developing countries, and an integrated programme for commodities.PSL Quarterly Review,29(119). Kumar, S. and Bhatia, G.K., 2015. The Need and Effectiveness of Research and Development in Indian Automobile Industry: A Comparative Study of Maruti Suzuki and Tata Motors.International Journal of Research in Economics and Social Sciences,5(2), pp.56-64. Lessard, D., Lucea, R. and Vives, L., 2013. Building Your Companys Capabilities Through Global Expansion.MIT Sloan Management Review,54(2), p.61. Mca.gov.in. (2017). Cite a Website - Cite This For Me. [online] Available at: https://www.mca.gov.in/SearchableActs/Section2.htm [Accessed 13 Jan. 2017]. McNeil, A.J., Frey, R. and Embrechts, P., 2015.Quantitative risk management: Concepts, techniques and tools. Princeton university press. Patnaik, M., 2014. Tax, Lies and Redtape. Porter, A.L., Cunningham, S.W. and Sanz, A., 2013, July. Extending the FIP (Forecasting Innovation Pathways) approach through an automotive case analysis. In2013 Proceedings of PICMET'13: Technology Management in the IT-Driven Services (PICMET)(pp. 2061-2075). IEEE. Rachet, B., 2014. PESTEL analysis and Porters Five Forces For Innocent Drinks Company.Docs. school Publications. Roth, H.P. and Sims, L.T., 1991. Costing for warehousing and distribution.Strategic Finance,73(2), p.42. Stein, D.M. and Vadlamudi, H., 2013. ENHANCING ACTIVE TAX-MANAGEMENT. Stobart, P. ed., 2016.Brand power. Springer. Tatamotors.com. (2017). Innovation at Tata Motors | Tata Motors Annual Report 2015-16. [online] Available at: https://www.tatamotors.com/investors/financials/71-ar-html/innovation.html [Accessed 13 Jan. 2017]. Tatamotors.com. (2017). Tata Tiago Hatchback First Look Its #Fantastico! | Tata Motors Limited. [online] Available at: https://www.tatamotors.com/product/tiago/ [Accessed 14 Jan. 2017]. Tatamotors.com. (2017). Tata Ultra Light Trucks | Light Commercial Vehicles | Tata Motors Limited. [online] Available at: https://www.tatamotors.com/product/ultra/ [Accessed 14 Jan. 2017]. Yadav, A.P., 2013. Managing Sustainable Growth Rate: A Case Study on Tata Motors and Maruti Suzuki.Accounting Review,1(4).

Twining Tea Company Strategic Management

All businesses that operate in a dynamic world often face challenges beyond their control. In order for every business to succeed, these external factors must be taken into consideration (Buxton Chapman 1998). Therefore, every business strategy must recognize these forces to identify threats and available opportunities and use them for its benefits.Advertising We will write a custom essay sample on Twining Tea Company Strategic Management specifically for you for only $16.05 $11/page Learn More Failure to react to the external environmental changes may lead to lose of customers. Since the existence and success of business are dependent on its customers, it is therefore worth noting that external environment is the existence of the business (Roy 2009). Twining Tea Company considers the following external environment factors (microenvironment) in the process of positioning itself in Hull in the UK market to increase its sales in December 2011. Market The tea market in the UK has been steadily growing over the past five years (Stillwell Clarke 2011). According to Jonny Forsyth, senior drinks analyst at Intel, the recent economic climate has played a big part in consumer attitudes to tea and two of the worst winters on record have assisted the market, not to mention heavy discounting activities. However, this report claims that the trend is unlikely to continue if new customers are not attracted (Roy 2009). To improve its positioning, Twining Tea will focus its activities to the unexploited market of young people. This will also ensure market continuity when the old fall out of market. Customers Hull that has a population of over 258000 currently provides a wide customer base for Twining Tea products (Chen Tsang 2000). A quarter of its population comprise of the people under 20 years who do not consider tea as their favourite drink. Success in Hull is therefore greatly dependent on winning this young generation. To achieve this, the company will carry out massive advertisement campaigns aimed at changing attitude of the youth towards their production (Buxton Chapman 1998). No business is able to survive if the demand for their products is not sufficient to maintain production. This is therefore crucial for tea industry.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Competitors Competition in the tea market in the UK is very high. Five brands, such as PG Tips and Tetley, Premier Foods, Associated British food, and Betty Taylors dominate the UK market (Stillwell Clarke 2011). In order to be competitive during the Christmas period, Twining Tea Company will have to cut into the leading companies’ market share. This will involve taking drastic measures such as significant price reduction, use of shorter channels of distribution and increasing quality (Roy 2009). Reducing price will broaden customer’s bas e by bringing those who cannot afford to buy such products. Product line, such as revive and cleanse infusions, which are slow movers, can be sold at lower prices quite well (Martin 2007). Cutting of operational costs may also help to reduce prices. To achieve this, the company will hire less expensive labour (Chen and Tsang 2000). Most of Twining’s tealeaves are imported. Camellia sinens is from China, Japan and Darjeeling while Camillia sinens is assamica tea from North India. In order to cut further on cost, the company may use locally produced tealeaves of the Tregothnan Estate, an emerging tea estate in the UK where the weather is similar to that of Darjeeling-India (Martin 2007). Suppliers Being one of the most important stakeholders, their full cooperation will ensure smooth operation and success. To make sure that the cooperation will be full, the firm will pay them timely at the competitive rates. References Buxton, T Chapman, P (eds) 1998, Britain’s economic performance, Routledge, London. Chen, Z-Y Tsang, D 2000, ‘Degradation of green tea catechins in tea drinks’, Journal of agricultural and food industry , vol. 49, no. 1, pp. 477–482.Advertising We will write a custom essay sample on Twining Tea Company Strategic Management specifically for you for only $16.05 $11/page Learn More Martin, C 2007, Tea: The drink that changed the world, Tuttle Publishing, Tokyo. Roy, K 2009, The marketing of tea, Intertrade Publications, New Delhi. Stillwell, J Clarke, M (eds) 2011, Population dynamics and projection methods, Springer, London. This essay on Twining Tea Company Strategic Management was written and submitted by user Eli W. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.