Car Break-in Urban Legend Hole Under Door Lock

A viral alert circulating via email and social media since 2010 warns of a new vehicle break-in method wherein thieves punch a small hole under the handle of a car door to unlock it. Do you need to be concerned about this rumor? Its possible. Firsthand Account As shared on Facebook, Jan. 5, 2013: Wednesday, I approached my truck from the passenger side to place my computer bag in the front passenger seat.As I reached to open the door I noticed there was a hole right under my door handle.My first thought was, someone has shot my truck!I began to think about it and inspect it a little closer and the light slowly began to come on.I phoned my friend who owns a body shop and asked if he had any vehicles with damage to the doors that looked like a bullet hole.Yes, I see it all the time. Thieves have a punch and place it right under the door handle, knock a hole through, reach in and unlock it, just as if they have a key. No alarms, broken glass, or anything.I then placed a call to my insurance agent and explained it to him. I was puzzled that they left my GPS and all other belongings.Here is where it gets scary!Oh no, he said, they want the break-in to be so subtle that you dont even realize it. They look at your GPS to see where home is. Or check your address from Insurance and Re gistration in your glove box. Now, they know what you drive, go to your home, and if your vehicle isnt there they assume you arent and break into your home.He said they will even leave a purse or wallet and only take one or two credit cards. By the time you realize there has been a theft, they may have already had a couple of days or more to use them.(I didnt realize my situation for two full days!)They even give you the courtesy of re-locking your doors for you.Periodically, walk around your car, especially after you park in a shopping center or other large parking area.Report thefts immediately....your bank w/missing check numbers, your credit card agencies, police, and insurance companies, etc. Analysis While we have no way of verifying the specifics of this anecdotal account, the hole punch method it describes is known to police and indeed sometimes used in the commission of auto burglaries. Apparently, it works quite well. In a spate of roughly four dozen break-ins reported in Alton, Illinois over a two-month period in 2009, for example, police said at least half involved the use of a sharp tool to deftly punch through car doors, just under their locks to release them, according to a local newspaper, The Telegraph. The report continues: The unknown sharp object penetrates the door metal, hits the lock mechanism and disengages it. The burglar or burglars slip inside the vehicle without having to break a window or otherwise heavily damage the car, which would call attention to themselves.Because the damage is minor, the owners may not realize they are victims until they notice items missing from the car or items that were moved. The puncture hole that the intruders leave under the lock, usually on the drivers-side door, is only up to about a half-inch in diameter. However, while the hole punch technique is referenced in a number of news stories published between 1990 and the present, there were many more instances cited in which cars were burgled the old-fashioned way — by smashing a window. Protect Yourself From a Break-in Regardless of the method of entry used, precautionary measures available to vehicle owners remain the same: Install a car alarm, avoid parking in dimly lit, isolated places, and never leave valuables (including GPS devices) in plain sight. Sources and Further Reading Cars Burglarized with New Technique. The Telegraph (Alton, IL), 19 October 2009Thieves Stand Ready to Pounce in Mere Minutes. St. Petersburg Times, 18 July 2010

The Cherokee And The American Revolution - 1858 Words

The Cherokee attempted to civilize to mirror their American counter parts in an attempt to elude they’re absolute removal. The Cherokee had faith in government, but did not calculate greed, bigotry and biased opposition from those who were overseeing they’re livelihood. The Cherokee had always opposed those who took to emigration, but soon after force the Majority were unwelcomed in a new society. The tribe, cooperated with British forces in hopes of maintaining their ancestral land. The Cherokee tribe had lost a vast amount of land by siding with the British during the American Revolution. The outbreak of hostilities between 1776 and 1794, the Cherokees lost more than twenty thousand square miles of land . The tribe’s way of life depended on the land for hunting and trading deer pelts, was now in jeopardy . The loss of land meant less game which meant less food and trading for the tribe. The Cherokee also used land to plant crops but not on the scale as the Americans did. Because previous north eastern tribes were vanishing, the newly formed government wanted to help the Cherokee from the same fate. President George Washington realized that the Cherokee were at risk of being wiped out like the north eastern tribes. To subdue the warfare between encroaching settlers and the Cherokee, Washington began the United States Civilization Program. In a letter by Elizabeth Taylor a Cherokee, she describes learning that white people were once uncivilized also and that she hopes herShow MoreRelatedUnfair Treatment of the Native Americans1498 Words   |   6 PagesNative Americans- the Cherokee Nation Throughout the 19th century Native Americans were treated far less then respectful by the United States’ government. This was the time when the United States wanted to expand and grow rapidly as a land, and to achieve this goal, the Native Americans were â€Å"pushed† westward. It was a memorable and tricky time in the Natives’ history. 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Experiential and Psychological Factors and Products †Free Samples

Question: Discuss about the Experiential and Psychological Factors and Products. Answer: Introduction The assignment is about the marketing plan for Asia e University. Acting as a consultant of Asia e University Malaysia. A consultant needs to construct a marketing plan for Asia e University to have a 20 % increase in student number in 2018. A Marketing plan document of the business is being constructed to show the tactics and strategies of a business. It might not be constructed for a specific period of time which involves an in-depth detail related to marketing for example goals of the business and cost of its product. It provides a way towards achieving the desired goals and objectives (Duermyer, 2017). This assignment will outline the marketing plan for Asia e University and will focus on these key points such as Mission statement of Asia e University, the Present position of the university, Product and services provided by the university, Market of the university, Channel of distribution, Promotional strategies of the university, competitors and pricing. The Asia e University is a collective multinational university started by the Asia Cooperation Dialogue (ACD), a frame recognized in 2002 to endorse Asian cooperation at a central level. Recognized as a Malaysian enterprise, on the way to become the leading agent of e-Education, it is sustained by 34 ACD Member Countries as confirmed in 2005 in Islamabad at the CD Ministerial Meetings and in 2006 in Doha (Asia e University. 2017). AeU is working with the institutions of higher learning (IHLs) and training Centres to provide quality of professional programs of training and quality academic programs that are easily available and inexpensive in the ACD Member countries. For Asian, IHLs University AeU provides mutual certification and degree recognition and programs of the academy. This University also provides control on the resources and facilities like professional programs and academic information sharing for IHLs in Asia. AeU is recognized by ACD members countries as an instrument f or Asia-wide cooperation and act as a promoter between the nations and communities in contracting the digital gap. Asia human capacity needs are going to be fulfilled by AeU as it is ready to champion e-Education hard work. The mission of Asia e University is to work together with Higher Learning Institutions of Asia and use their collective image, expertise, and resources for providing good quality of Life-long learning and Higher education. To provide affordable and quality programs through e-learning Asia e University joined their forces with the institutions of global education. Many postgraduates around the world joined this university due to their programs like cross culture and cross-border. ACTS (Asian Credit Transfer System) is enabled by the Asia e University, it is a joint approval of academic programs between the educational institutions of Asia (Master Studies. 2002). Asia e University also focuses on the personalized learning, for this, they provide training and education to the professionals in pursuit of creativity, innovations, and flexibility in their need of education. The vision of the Asia e University is to become a leading university by providing quality and affordable learning in Asia. Asia e University is providing international reputational academic programs as they have become expert due to collaboration with the prestigious institutes. Their focus is providing flexible education and training pr ograms to the students and growing suitable educational technologies and strategies to support students thinking, skills, and capabilities. They are trying to establish a benchmark by providing best e-learning practices (1UNI. 2016). Information Technology and Multimedia School The aim of Information and Communication School is to prepare the best graduates with excellent skills and who are capable of fulfilling the needs of the industry in which they will work. Academic programs presented by the School are planned to arrange experts for the designation such as system analysts, web designer, animation specialist, software engineers, web broadcasting journalists and technology managers. The programs involved in information technology are graduate and undergraduate programs and varied Asia attitudes, traditions and culture give emphasis to creative multimedia (Quatar Conferences. 2006). Art, anthropology, philosophy, history, studies of religion, sociology, social work and different study programs of Asia such as Arabic studies, Chinese studies, Iranian studies are the courses offered by the Arts and Social Sciences School. A culture of research is emphasized by the School built on the excellence of both research i.e. interdisciplinary and discipline and scholarship. Asian culture main priority is their commitment to improvement and development (Asia e University. 2017). At graduate and undergraduate levels courses in engineering and technical studies are offered by the Engineering and Technical Studies School (Asia e University. 2017). Courses in physics, biology, and chemistry are offered by the Science, Health and Environmental Studies School and are functional to biotechnology, environmental studies, and medical science. Courses in basic science and interdisciplinary science will involve programs of graduate and undergraduate with field and laboratory courses (International institute of health sciences. 2017). Courses offered by the business and management school focuses on knowledge management, strategy, and marketing, innovation, e-business, performance management, human resource management, management of voluntary and public sector, corporate strategy and entrepreneurship. Business and management offer programs of graduate and undergraduate and business operation unique features are emphasized by the MBA program in Asia (Asia e University. 2017). Programs of graduate and undergraduate are offered by the Education and Cognitive Sciences School for the profession of education; it provides opportunities to the teachers to upgrade their skills and knowledge wherever they live and work. Teachers of member countries are benefited through this program. Educational leadership, science, cognitive science, mathematical teaching and language education are the areas given more emphasis (Asia e University. 2017). Animators, web and multimedia developer, instructional designers, video and audio specialists and graphic designer are the staff available in Instructional design and learning technologies Centre. The main focus of this Centre is upon the development and content design and assisting the member institutions. Strategic initiatives are promoted by this Centre to integrate e-learning in the education system. Learning Content Management System and Learning Management System are maintained by this Centre. Postgraduate programs are managed and coordinated by Graduate Centre in the University. The centre is responsible for management examination, quality, and marketing (Asia e University. 2017). To improve computing skills, interviewing skills, communication skills, presentation skills, etc. short courses are managed and organized by the Lifelong Learning and Training Centre for the individuals. The main focus of the Centre is to maintain cooperation with the member countries so that practices and experiences of e-learning can be exchanged (Asia e University. 2017). Innovation, Research and Consultancy Centre For the effectiveness of the programs, a joint research initiatives in e-learning is established among member countries by Innovation, Research and Consultancy Centre. This Centre is established for maintaining the cooperation with the member institutions and technologies and e-learning can be shared. Target marketing means dividing the market into different segments and then focusing on the segments of the customers whose demands and needs are related to the product and services offered by the business. It is a strategy of the business to attract customers, business, to increase the sales and for the success of the business. Distribution, pricing, and promotion of the product become more cost effective due to the target marketing strategy of concentrating on the particular segments of the customers whose demand matches with the business services (Eldering, 2003). The population of the Asia is about 3.6 billion people, it is almost 60% of the world population which is a huge market. It has been projected that 60-75% of the Asia people require some type of training and 60-90% of people require re-skilling. Besides this, 40-60% of people are demanding higher education (Quatar Conferences. 2006). The market for Higher education cannot be considered as the only market that needs the p reparation for a career with focusing on students with the age group of 18-22 years. There is a high demand for education and learning even in adults who want to be updated with the current information in their professional as well as personal life not only in Asia but all over the world. Recently, the adult learning and lifelong educations demand is increasing. With the help of e-learning approach, AeU will not face any problem in this market sector in serving their services. E-learning will cover the distance and time for the adult learners. Business can do segmentation of the market in three common types- Demographic segmentation, Geographic segmentation and Psychographic segmentation (Laroche, Bergeron Barbaro-Forleo, 2001). Demographic segmentation can be done on the basis of income level, age, religion, education, marital status, race, and gender. Knowledge of the demographic information is very important for all the business as demographic segmentation is the important criteria for recognizing target markets (Ba?uv?k, 2013). Geographic segmentation can be done on the basis of city, country, neighborhood, state, area code, zip code. Geographic segmentation depends on the consumers in a same geographic area with the similar demand and needs for the services and product (Dietrich, 2017). Psychological segmentation can be done on the basis of class personality, socio-economic and lifestyle. The socio-economic involve range of the customers from rich and educated people at the top to the unskilled and uneducated people at the bottom (Pickering Hayes, 2017). Asia e University is working in different segments and provide courses like Certificate and Diploma Programs which is applicable for Malaysia, Indonesia and other countries, Bachelor, master and Ph.D. Programs is applicable for Vietnam, the Middle East and other countries, Executive Programs is applicable for China, Cambodia and other countries and Life Long Learning is applicable for India, Pakistan and other countries. Marketing mix of Asia e University To promote the product or service businesses use some tactics or strategies, these tactics are known as marketing mix (Cavallone, 2017). Marketing mix involves elements known as 7 p's such as Product, Price, Place, Promotion, People, Physical environment, and Process. Some of marketing mix element of the Asia e University are explained below. Place- Place is also known as a distribution channel, it is used to meet the market wants, expectations and need of the student by the university. Nowadays many sources are available from which student can take the relevant information and with the establishment of the IT student have received an additional source of information in comparison to the previously restricted area of the university. IT instrument known as Blackboard is the example of a source of information used by students. IT source has developed, to hold the material of related university is an opportunity (Starck, 2013). Promotion- University can provide the information about its product and services based on the channels to the market. Channel can be made up of publicity, personal sales contact, advertising, and public relations. Personal sales contact between student and university is very important, as according to the previous research student need personal advice at the time of enrollment. The university should clearly explain and provide information at the time of promotion so that student can clearly understand the educational product. The website is one of the important channels of information transfer to the student. The website provides general information about the university to the student, but the university should not only rely on the internet it can be ineffective communication. Besides the website, other sources like advertising, exhibitions, and E-mail are also very beneficial for the university (Starck, 2013). People- People are the staff members of the university that interact with the students during the enrollment. Thus, the staff is the one who represents the university and can satisfy the student. People are the important factor that should be considered as they are related to promotion and process. The interaction between the student and staff are due to the personal contact of the academic, administrative and supportive staff. Image of the staff is related to the enrollment and perception of the student. Administrative staff plays important role in providing services to the student. Therefore, the reputation of the university can be affected due to the interaction between the staff and the student (Starck, 2013). Process- Universitys formal and administrative functions are involved in the service delivery. It is linked to the process of enrollment that includes registration request, examination of the course and evaluation with the results of the examination. Process include entertainment activities and social events. Bureaucracy and administration of the student are related to the educational service. The frustration of the university's staff and student can be reduced if there will be a well-functioning process. University should confirm whether the student is understanding the process of gaining a service or not as a student is part of the process. Cooperation between the staff is important because the interaction is involved in the service to create the product (Starck, 2013). Price- The income of the educational institute is influenced by the price strategy. The price of tuition, educational program is affected by the competitors price and demand. Therefore, Asia e University plans the prices of the programs accordingly so that student base can be increased in coming future and can give competition to other universities. Product- Product is the important part of the marketing mix. Even it plays a key role in the educational industry, it can be enhanced with the help of other components of the marketing mix. Asia e University designs their programs according to the demand of student (customer). Asia e University provides different crash courses and diploma programs to attract students. Physical environment- the Physical evidence is very important in the educational industry due to the intangible nature. Physical evidence works as a proof of product or knowledge delivered to the student. Asia e University provide physical evidence because it shows the quality of the services that have been delivered or going to be delivered and will also help in increasing the customer base by 20% of the university. The movement of goods and services from manufacturer to the end user of the product and services is known as distribution. Goods and services move from one place to other due to the presence of the distribution channel which involves different distribution intermediaries. Payment of the goods and services move in the opposite direction from the end user to the intermediaries and then to the manufacturer (The Economic Times. 2017). There are two types of distribution channel i.e. direct distribution and indirect distribution. In direct distribution channel, there are no intermediaries business provide goods and services directly to the customers. On the other hand, indirect distribution channel involves a number of intermediaries through which goods and services move from manufacturer to the end user (Liu, 2017). Asia e University adopt two model of distribution for the delivery of their courses Blended Approach- Blended approach involve online interactions, independent study done by the student and face to face interaction. Online Approach- Through e-learning mode courses are provided to the students and interaction between the student and instructor is done through the web. Whenever required student have to be present at the selected Centre even for final examination and assessments (Asia e University. 2017). Promotion- Promotion means to communicate with the customers and influence them to buy the product and services provided by the business (The Economic Times. 2017). Business can communicate with the customers through websites or through direct selling. For a business to promote their product is very important because it is the only way through which customer can know about the product available in the market and where it is available (Ward, S. 2017). Customers will only buy the product when they know about it. There are two categories in which promotional strategies can be classified- Push and Pull. Push strategy- For pushing the product to the customers some type of promotional activities are implemented for retailers, wholesalers, and distributors in push strategy. Activities like the bonus, wholesalers discounts, and trade fairs are the example of push strategies provided for the distributor's benefit and to attract them (Marketing. 2017). Thus, the demand for the product is created in the distribution channel. The customer is not familiar with these activities. Pull strategy- Activities of promotion are done for the customers to attract them in pull strategy. Example of pull strategy are discounts, digital campaigns, and advertisements. Thus, the demand for the product is created through these activities and customer reach to the retail stores or websites to avail the services and to buy the product (Magloff, 2017). Promotional activities done in pull strategy are visible to the customer. Promotional strategies used by Asia e University for increasing their customer base by 20% are- Development of mobile, Use of web analytics, Responsive website design, Strategic social media and Optimization of the search engine. Mobile development- Mobile technology is rising day by day, all the devices that are connected with this, universities and colleges are making huge investments in this. They are creating websites mobile version with this they are making their content of courses mobile-friendly (Hanover Research. 2014). Use of web analytics- To know where the university is reaching to their customer they rely on data-driven analytics. Analytics software uses are increasing because higher education ecosystem is getting complex and online material of the institution is expanding. Responsive website design- University and institutions are focusing on responsive web design so that student can be navigated about how to use it and website can be used and viewed on different devices. Optimization of the search engine- Institutions and universitys administration department want their institution to have a good spot on the search engine, especially Google. It is very important for institutes who provide niche programs (Hanover Research. 2014). Asia e University is dedicated and wants to become a global brand of life-long learning, the administration is desiring to improve their knowledge, capabilities, and skills to give competition globally. Asia e University has initiated strategic alliance and partnering with China, India, Vietnam, Middle East, Indonesia and South East Asian countries University, due to this Asia e University has become popular and helped them increase the number of students in the university. Further, to make Asia e University renowned brand internationally they are planning to start the collaboration with the countries like Africa, Australia, New Zealand and England. The goal of rising human capital Asia e University is adopting the innovative approach to build up the competitiveness of the nation globally and trying to improve the knowledge, skills, and capabilities of their administration department (Interface Education. 2014). Competitive edge is created by the speeds programs for the success. The programs of the Asia e University will improve the skills and make changes that are necessary for present and future industry needs. Fees of the Asia e University- Academic semesters are delivered in the Asia universities that provide quality services by Asia Exchange. These universities main focus is to provide quality and life-changing abroad semesters to as much as students they can. Due to this, they maintained their fees affordable for all the students and low as well. Host University is financing the Asia Exchange. University is providing lower price programs because they negotiate with the partner university about the tuition fees. As compared to the West tuition fees is lower in Asia as well as other expenses (Asia Exchange. 2017). Tuition fees cover Tuition, Orientation at the destination, Asian universities official transcript and official acceptance letter, Process of application, Guidance of the program and services of the program are provided before, during and after the program, After sending the application placement is guaranteed in the program. In addition to the tuition fee, for every application fees of approx. 75 EUR as a non-refundable fee will be charged. In the week of applying the application, the invoice will be delivered of this fee with the letter of initial acceptance. After receiving the invoice fee can be due for 10 days. For an international bank transfer, the bank can charge the service fee. Asia Exchange is an abroad organization of European study. Low tuition fees are charged from the European students in the European universities. For Europeans, lower prices are charged for Asia Exchange programs. Fees of Asia Exchange's program is affordable as compared to the fees of another independent program. For example- Prices of U.S. programs are more than 10000 USD. Within the deadline, all the required documents with the application must be submitted. Additional fees are charged from those students who submit their application after the end of application period according to the terms and conditions of the university (Asia Exchange. 2017). Conclusion In the conclusion, it can be said that success and sustainability of the Asia e University depend on international bodies, corporate enterprises, universities, government agencies and higher education institutes support and interest. Asia e University will have to change gradually in reaction to the contributing members and the needs of the market. The success of the Asia e University depends upon the member countries willingness to participate in expanding the market, opportunities for increasing the revenue, knowledge, and cooperation boosting. The mission of the Asia e University also says that they want to work together with Higher Learning Institutions to provide educational courses. Asia e University offers different services and courses to their customers such as Information Technology and Multimedia School, Arts and Social Sciences School, Engineering and Technical Studies School, Science, Health and Environmental Studies School, Business and Management School and Education a nd Cognitive Science School. Service Centre in support of schools are as follows the instructional design and Learning Technologies Centre, Languages Centre, Graduate Centre, Lifelong Learning and Training Centre and Innovation, research, and consultancy Centre. The above marketing plan of Asia e University will definitely increase 20% of student number in 2018. References Duermyer, R. (2017). What is a Marketing plan? Retrieved from: https://www.thebalance.com/what-is-a-marketing-plan-1794426 Asia e University. (2017). Overview. Retrieved from: https://www.aeu.edu.my/about-aeu/overview Quatar Conferences. (2006). The Establishment and implementation of Asia e University (AeU). Retrieved from: https://www.qatarconferences.org/asian/pdf/asia.pdf Asia e University. (2017). Master of Social Science. Retrieved from: https://www.aeu.edu.my/programmes/phd/master-social-sciences-mss-research Asia e University. (2017). School of Technical Education, Engineering Reskilling. Retrieved from: https://www.aeu.edu.my/schools/school-technical-education-engineering-reskilling International institute of health sciences. (2017). Asia E University - 1 University 31 Countries. Retrieved from: https://www.iihsciences.com/index.php/en/programmes/2013-01-09-13-54-07/bachelor-of-technology-healthcare-management-state-university-of-new-york-at-canton Asia e University. (2017). School of Management. Retrieved from: https://www.aeu.edu.my/schools/school-management Asia e University. (2017). School of Education Cognitive Science. Retrieved from: https://www.aeu.edu.my/schools/school-education-cognitive-science Asia e University. (2017). School of graduate studies. Retrieved from: https://www.aeu.edu.my/schools/graduate-studies/school-graduate-studies Asia e University. (2017). School of Professional Executive Education. Retrieved from: https://www.aeu.edu.my/schools/speed/school-professional-executive-education-0 Asia e University. (2017). Master in education (MED). Retrieved from: https://www.masterstudies.com/Master-in-Education-(MED)/Malaysia/AeU/ Hanover Research. (2014). Trends in Higher Education Marketing, Recruitment and Technology. Retrieved from: https://www.hanoverresearch.com/media/Trends-in-Higher-Education-Marketing-Recruitment-and-Technology-2.pdf Interface Education. (2014). Message from the Director of SPEED, AEU. Retrieved from: https://www.ige.com.my Asia Exchange. (2017). Fees. Retrieved from: https://www.asiaexchange.org/studying-in-asia/fees/ Master studies. (2002). Asia e University. Retrieved from: https://www.masterstudies.com/universities/Malaysia/AeU/ 1UNI. (2016). About Asia e University. Retrieved from: https://1uni.net/university/asia-e-university-aeu/ Eldering, C. A. (2003). U.S. Patent No. 6,560,578. Washington, DC: U.S. Patent and Trademark Office. Laroche, M., Bergeron, J., Barbaro-Forleo, G. (2001). Targeting consumers who are willing to pay more for environmentally friendly products. Journal of consumer marketing, 18(6), 503-520. Ba?uv?k, R. (2013). The Demographic Segmentation in Arts Marketing. In Proceedings in Scientific Conference (No. 1). Dietrich, T. (2017). Segmentation in Social Marketing: Five Steps to Success. In Segmentation in Social Marketing (pp. 77-92). Springer Singapore. Pickering, G. J., Hayes, J. E. (2017). Influence of biological, experiential and psychological factors in wine preference segmentation. Australian Journal of Grape and Wine Research, 23(2), 154-161. The Economic Times. (2017). Definition of 'Distribution'. Retrieved from: https://economictimes.indiatimes.com/definition/distribution Liu, H., Sun, S., Lei, M., Deng, H., Leong, G. K. (2017). The impact of retailers alliance on manufacturers profit in a dual-channel structure. International Journal of Production Research, 1-16. Marketing. (2017). Push pull marketing strategies. Retrieved from: https://marketing-made-simple.com/push-pull-marketing-strategies/ Magloff, L. (2017). Push Pull Promotional Strategy. Retrieved from: https://smallbusiness.chron.com/push-pull-promotional-strategy-10972.html Ward, S. (2017). What Is Business Promotion - A Definition? Retrieved from: https://www.thebalance.com/business-promotion-definition-2947189 The Economic Times. (2017). Definition of 'Promotions'. Retrieved from: https://economictimes.indiatimes.com/definition/promotions Starck, K. (2013). Marketing within higher education institutions - A case study of two private Thai universities. Retrieved from: https://www.diva-portal.org/smash/get/diva2:625908/fulltext02 Cavallone, M. (2017). The TES Marketing Mix. In Marketing and Customer Loyalty (pp. 83-126). Springer International Publishing.

Designing, Improving and Implementing Processes Essay Sample free essay sample

Simply Sunless. LLC is a little airbrush tanning concern. which the proprietor is the exclusive employee and technician. The mission of Simply Sunless is to advance a healthy tanning alternate and skin malignant neoplastic disease consciousness. â€Å"Be Fabulously Fake! † is the slogan of Simply Sunless. and the feeling that proprietor. Brooke Counts. wants each client to see every clip she tans them. Q # 2 After deep idea and a great trade of planning. Brooke decided to do the concern preponderantly mobile. which eliminated a big part of many concern hurdlings. viz. startup costs. The pick to be nomadic eliminated overhead costs. including salon infinite lease. ornaments. licenses. and other costs associated with holding a shopfront. Additionally. being nomadic minimized the machine size demands and merchandise volumes. In order to do the equipment easy to transport from client to client. it needed to be compact and merchandises minimum to minimise possible for harm during conveyance. In order to interrupt into the beauty industry. it was realized that Simply Sunless would necessitate to spouse with other local beauty concerns to construct a client base. By offering airbrush tanning at watering place. wellness and fittingness installations. and salons that did non antecedently have any signifier of sunless tanning. Brooke will be able to develop a solid trade name. and trade name consciousness. without the overpowering cost of advertisement and promoting that are non economical for little concerns. Based on research of Simply Sunless. selling is the procedure in most demand of alteration over the approaching twelvemonth. Every twenty-four hours more than 1 million people tan in tanning salons. Of these people. 70 % are Caucasic misss between the ages of 16 and 29. With one-year indoor tanning grosss estimated to be over $ 2. 6 billion. holding effectual advertisement is indispensable to the growing of Simply Sunless. It has been established that the mean individual has a 75 % higher hazard of developing skin malignant neoplastic disease from utilizing tanning beds. and that persons who tanned before the age of 35 are at an 87 % higher hazard of developing melanoma ( American Academy of Dermatology. 2012 ) . Health witting consumers are traveling off from UV tanning to UV-free tanning because of their hazard for skin malignant neoplastic disease and premature aging. Additionally. the handiness of nomadic electronics. societal networking. and people’s general desire for cognition. opens selling options up to being more accessible. if the right mark audience is reached. Identifying and advancing airbrush tanning to the right audience will be more successful than puting in direct mailing and print ads. Q # 3 Degree 1 ( Initial ) : The concern was started without loans and operating expense. so the lone disbursals will be supplies. gas. and advertisement. This phase will place methods of selling that can be used to advance Simply Sunless and assist the possible clients place the trade name. Degree 2 ( Repeatable ) : Here. Simply Sunless will reexamine selling methods utilized since the concern was founded. Via study method. new and established clients will be asked how they became cognizant of Simply Sunless. Calculations will be done to find the cost associated with each selling method and compare that figure to the sum of gross generated for each method. Degree 3 ( Defined ) : Bing a individual owner/operator concern. Simply Sunless’s direction will be more in melody with the defined concern procedure in relation to concern ends. Initially. the concern demands to put in selling to develop a client following. This will be accomplished by using economical selling methods such as digital and word of oral cavity referrals. and by partnering with complementary concerns. Print advertisement and fall ining the local Chamber of Commerce will besides be included in the budget. Degree 4 ( Managed ) : Once a client base has been developed and a successful selling method identified. finding tanning quality will be closely monitored via client follow-up calls. Following every tanning session. the client will be contacted and asked if their sunburn met with their outlooks of a UV-free sunburn. If the reply is yes. they will be thanked for their backing and encouraged to book their following assignment. Should the reply be no. the client will be asked how the experience can be improved for following visits. In add-on to the client study. the tanning solution and retail merchandises will be monitored for termination day of the months. quality control issues. or damaged packaging agreement to maker recommendations. Since colour alteration is a unequivocal index of harm. solutions will be kept in temperatures recommended by the maker and tested hebdomadally for colour alterations and disposed of instantly should they neglect specifications. Degree 5 ( Optimized ) : In order to go on successful procedure direction and maximise procedure success. a continual rating of the system will be established. Periodically. outside beginnings from the provider and solution industry will scrutinize the quality control procedure to assistance in finding successful or failing procedures. Random client studies will be conducted to find client satisfaction with the tan colour. tanning procedure. technician cognition. and handiness of sunless tanning attention merchandises. Technician ( s ) will be required to go to go oning instruction classs to larn new techniques and acquire acquainted with new merchandises. Q # 4 Phase 1: Presently. Simply Sunless is a turning concern looking to spread out its client base with a limited budget. It can be assumed that investing in selling will progress or restrict the growing potency. A chiseled selling procedure will help in finding optimum selling outgo to advance successful concern growing. Phase 2: The beauty industry is hard to interrupt into and easy to be black listed. Cardinal factors for success include set uping a positive trade name image. while failure is set uping a negative trade name image. All rivals are capable of marketing their mark audience with advertisement. publicities. and warrants. The concluding merchandises. in this instance the airbrush sunburn. can be displayed via portfolios and word of oral cavity referrals. The greatest restriction being the pecuniary agencies to publicize and talent to bring forth quality airbrush sunburns. Since many services in the beauty industry are considered â€Å"luxury† . during times of economic adversity these luxury services are the first to be cut from a budget. Compared to its rivals. Simply Sunless has an advantage being nomadic and holding minimum fixed costs so the nest eggs can be reflected in pricing and publicities. Simply Sunless is besides nomadic. which gives the concern more flexibleness to run into new clients. The proprietor of the concern has had professional preparation and certified direction. The greatest disadvantage Simply Sunless faces is its newness to the industry and limited selling budget. Phase 3: Presently the economic system is fighting and the effects are felt in many service industries. Present selling methods are limited and making an audience that is limited in its outgos. There are alternate classs of action which include direct mail selling. magazine print advertisement. seller events. and sponsorships. Print advertisement are more dearly-won. so the best class of action would be to go to seller auctions. concern networking meetings. and offer services at sponsorship events. Unit of measurement 2 ASSIGNMENT Q # 5A Current Procedure The current procedure is really simple and includes placing the mark market ( i. e. : Ultraviolet and UV-free sixpences ) . Selling is decided harmonizing to advertisement budget merely. Follow up calls and satisfaction studies are completed after every tanning assignment. Q # 5B Proposed Adaptations The proposed procedure will get down with placing the mark market with more item. This will include UV or indoor sixpences. UV-free airbrush sixpences. and open sixpences who have non made a determination in either way. Selling determinations will include measuring fluctuating consumer penchants. which include wellness tendencies and technique penchants ; the economic province. which will bespeak consumer’s willingness to pass money on luxury services ; every bit good as lodging to the company’s allotted advertisement budget. Q # 6 The bing procedure diagram has. really merely. outlined Simply Sunless’s procedure direction. and is of import because it establishes a base in placing how mark markets are being reached and whether or non they are successfully run intoing client outlooks. Future diagrams will sketch procedure betterment and redesign by using the initial selling base and spread out upon it to integrate new groups. Target markets will be decently solicited via advertised that is tailored to market and industry tendencies. economic province. and company advertisement budget. Future diagrams will assist concern directors place short-run and long-run betterments. ( Harmon. 2007. p. 318 ) . Unit of measurement 3 ASSIGNMENT Q # 7 The American Academy of Dermatology ( ADA ) shared legion surveies corroborating that indoor tanning increases the hazard of melanoma and non-melanoma tegument malignant neoplastic diseases. premature aging. immune suppression. cataracts. and optic melanoma ( ADA. 2012 ) . Given this information. one of import activity performed in the procedure alteration will be advertisement that is focused on appealing to the mark market’s penchants and tendencies. compared to the advertisement budget antecedently utilized. The undertaking being is the selling method. and shows that Simply Sunless presently advertises based on budget allowances. go forthing room to maximise investings that are market specific. Follow up calls to clients after their assignments is the primary method used to find client satisfaction. and advertisement is chiefly unbroken in-house. so both undertakings are performed entirely by Brooke. In order to aim markets suitably and acquire the most effectual advertisement scheme. outsourcing some of the advertisement duties may be necessary to obtain the most return on the investing. This would enable Brooke to make a coveted audience efficaciously. while leting her to concentrate on client satisfaction and procuring return concern clients. A meeting would necessitate to be set up with an advertisement bureau to set up a selling program that will bring forth the most return for the investing. The advertisement bureau will be in charge of making market research to aim the audience that composes the largest part Simply Sunless’s patronage. Brooke will mensurate the success or failure of the selling program by inquiring new clients where they heard of Simply Sunless. and by following up with clients to guarantee their sunburn met their outlooks. The follow up calls allow Brooke to open the lines of communicating with the client. set up a long term professional relationship. and guarantee that outlooks are being met. If the advertisement bureau is non aiming the proper audience. it will be apparent in the deficiency of response and with the client’s satisfaction evaluations. Q # 8 A undertaking is defined as a the â€Å"smallest identifiable and indispensable piece of a occupation that serves as a unit of work. and as a agency of distinguishing between the assorted constituents of a project† ( Business Dictionary. 2012 ) . One can reason that undertaking completion refers to the completion of a piece of work in a given period of clip. Measuring undertaking completion requires puting mensurable criterions which are straight related to the responsibilities and duties of the undertaking. The criterions will find what is required with the occupation to be done. The undertaking completion step will sketch whether or non the undertaking is completed successfully. This is straight linked to human public presentation in many instance. nevertheless human public presentation is comprised of more than the undertaking completion. Human public presentation is defined as â€Å"an achievement of a undertaking in conformity with agreed upon criterions of truth. completeness. and efficiency† and refers to the ability of the human resource. viz. the employee. to put to death the action. accomplish and carry through the requested undertaking on a consistent. seasonably. successful and efficient mode ( Business Dictionary. 2012 ) . That ability needs to be assessed and measured to supply feedback to the employee. guarantee that undertaking completion is accomplished. and better the ability to execute the undertaking when needed. Q # 9 Q # 10 The Six Sigma fishbone diagram is basically a cause-effect diagram that illustrates the things that will bring forth new concern. set up if the selling is successful. and develop a strong professional relationship with the clients in order to make a strong trade name and repetition patronages. As explained by Harmon the fishbone diagram largely â€Å"identifies a cause. specify it further and even further if possible† . ( p. 39 ) All of the procedures. from initial selling to following up after client assignments to carry oning informational studies. are cardinal to developing the Simply Sunless trade name and making a higher concentration of repetition clientele base. Should any element fail. the end is non able to be reached. Unit of measurement 4 ASSIGNMENT Q # 11 KPI # 1 for Ad: New Client Surveys When Simply Sunless hires an advertisement agent to help in turn uping mark market groups and properly research tendencies. it will be good for the concern to cognize if the investing is successful or non. One manner to detect this information is by carry oning new client studies. When the client books their assignment. a undertaking will be in topographic point to inquire each new client where he or she heard approximately Simply Sunless. KPI # 2 for Customer Satisfaction: Follow-up Calls Bing a service in the beauty industry. the lone method of mensurating client satisfaction is through the follow-up calls. Each client. whether they are new or repetition. will be contacted the following concern twenty-four hours to happen out if the sunburn met their outlooks. KPI # 3 for Quality Control: Customer Satisfaction The follow up call opens a direct line of communicating to enable the client to convey to light any positive or negative feedback. For illustration. if a client decided to acquire a darker sunburn colour than they did antecedently. they would be able to inform Brooke if they liked the darker shadiness or would prefer their old colour at their following assignment. Besides should any technique issues originate. the follow-up calls enable Brooke to turn to the issue instantly with a colour touch up at no charge to the client. Likewise. should the client peculiarly bask their consequences. it can be documented in their client portfolio. Q # 12 Conduct research ( utilizing the Kaplan Library or the Internet ) to compare and contrast Six Sigma. the Balanced Scorecard. and ISO9000/9001 as different methods of fixing public presentation and completion prosodies. Prosodies are public presentation markers. utilized at different intervals during the procedure timeline. to mensurate attachment to agenda and attainment of ends. Six Sigma basically prepares. so establishes the public presentation and completion prosodies as a method of mensurating the success or failure of Simply Sunless’s ability to efficaciously publicize. develop a trade name image. and unafraid repetition concern. Prosodies measure some quantifiable constituent of a company’s public presentation. such as return on investings. costs of making concern. and even seasonableness of assignments. return calls. and follow up calls. Simply Sunless could mensurate this by weighing the cost of engaging an advertisement agent compared to new concern generated from the selling. by set uping an acceptable clip frame to return appointment calls and times to follow up on assignments and by placing the per centum of repetition and new concern. Data will be collected by set uping and monitoring procedures. processs and services. so actionable prosodies can be established so that Brooke can seek to better the metric in order to bring forth of import information that is critical to Simply Sunless’s concern success. Once the coveted metric is identified and established. it will give better apprehension to implicit in causes of issues. which will so let farther analysis into the issue so that new betterments can be made. The Balanced Scorecard ( BSC ) is â€Å"Managementpractice that attempts to complement drivers of past public presentation with the drivers of future public presentation. including client satisfaction. development of human and rational capital. and learning† ( Business Dictionary. 2012 ) . A BSC is used for strategic planning and serves as a direction system to aline concern activities to the vision and scheme of the organisation. A solid BSC seeks to better all lines of communicating and supervise the organisational public presentation against set strategic ends. Under this method an organisation is viewed from four positions ; ( 1 ) acquisition and growing. ( 2 ) concern procedure ; ( 3 ) client and ( 4 ) fiscal positions ( Balances Scorecard Institute. n. d. ) . Data is collected and analyzed comparative to each of those positions so an appropriate set of prosodies can be developed. A Strategy Map. which overview the four positions. find action needed to be performed to acc omplish the scheme ends for each position. along with the steps that track the advancement on each action. Finally. the International Organization of Standardization ( ISO ) 9000/9001 is â€Å"based on a figure of choice direction rules including a strong client focal point. the motive and deduction of top direction. the procedure attack and continual improvement† . and gives the demands for an organization’s Quality Management System ( QMS ) with the end that after successful execution. companies will supply good services that meet the demands and outlooks of their clients and comply with applicable ordinances ( International Organization for Standardization. 2012 ) . ISO 9000/9001 provides â€Å"guidance and tools for companies and organisations who want to guarantee that their merchandises and services systematically meet customer’s demands. and that quality is systematically improved† ( ISO. 2012 ) . Finally. this will help in placing and implement actions needed to accomplish set ends. how to transcend them and so better the procedures as needed. Q # 13 It would be advantageous for Simply Sunless to use the Six Sigma method to successfully implement a alteration procedure. The Six Sigma will mensurate for return on advertisement investings. entire costs of making concern. and seasonableness of return calls. follow up calls. and existent assignment times. The chief focal point of this procedure will be to place the ROI of the advertisement investing and step client satisfaction. Paying close attending to the client feedback will enable Simply Sunless to measure the causes and grounds of factors impacting the success the ultimate end. This procedure will besides function to sketch KPIs that provide utile information Brooke can use to seek future betterments. The Six Sigma alteration procedure must be integrated through the concern to acquire a consistent part to Simply Sunless’s success as a whole. A alteration procedure should non be treated as independent of the whole. but should concentrate on the specific execution country. These peculiar procedure alterations. along with its public presentation indexs. are believed to be of import to Simply Sunless as a whole. Unit of measurement 5 ASSIGNMENT Q # 14- Produce an lineation or a flow chart depicting the full alteration direction program. Q # 15- Simply Sunless is a new. little airbrush tanning concern. which the proprietor. Brooke. is the exclusive employee and spray technician. The mission of Simply Sunless is to advance a healthy tanning alternate to UV tanning and convey consciousness to the hazards associated with UV tanning. such as melanoma tegument malignant neoplastic disease. premature aging. and optic harm. â€Å"Be Fabulously Fake! † is the slogan of Simply Sunless. and the feeling that proprietor. Brooke Counts. wants each client to see every clip she tans them. Since Simply Sunless is nomadic. advertisement has become the greatest obstruction to developing a solid. repetition clientele base. Customer satisfaction is indispensable to the wellness of the concern and one of Brooke’s top precedences. The prosodies of client satisfaction are measured through follow up calls to ask as to if the sunburn met the client’s outlooks and numerically via per centum of repetition vs. new concern. It has become evident that in order to bring forth new concern. Simply Sunless must outsource its advertisement to a company that can concentrate on the business’s mark market and work within the limited budget in order to maximise the success rate of print and digital advertisement methods. Once a more effectual selling program is established. Simply Sunless will be able to concentrate on developing a strong trade name through high client satisfaction. This will be achieved through mensurating prosodies such as ROI on advertisement. per centum of new and repeat clients. and client satisfaction. The information can be utilized to continually concentrate on bettering the procedures so that the Simply Sunless trade name continues to turn strong and go a family name. Mention American Academy of Dermatology ( ADA ) . ( 2012 ) . Indoor Tanning. Retrieved from hypertext transfer protocol: //www. aad. org/media-resources/stats-and-facts/prevention-and-care/indoor-tanning. Balanced Scorecard. ( n. d. ) . The Balanced Scorecard Basics. Retrieved from hypertext transfer protocol: //www. balancedscorecard. org. Harmon. P. ( 2007 ) Business Process Change. A Guide for Business Managers and Six Sigma Professionals. 2nd e. Morgan Kauffman Publishers. Burlington. Massachusetts Simply Sunless. LLC ( 2012 Retrieved from World Wide Web. SimplySunlessLLC. com.

Dissecting Maggie (A Girl Of The Streets) Essays -

Dissecting Maggie (A Girl Of The Streets) Dissecting Maggie ?Maggie, A Girl of the Streets? focuses on a young woman turning to the streets of New York in the late nineteenth century. Stephen Crane uses this novella to raise America's consciousness of the desolate conditions present in urbanized cities. The Industrial Revolution had made production more bearable, but was making life increasingly unlivable for those in certain metropolises. The Industrial Revolution brought change and growth to areas such as New York City. Mechanization in Th work place led to harsher working conditions. Open factories gave way to cramped and unsafe institutions. Many of the new machines were crude versions of what we are aquatinted with today. These machines were often improperly developed and dangerous to use if the operator was not well trained. This resulted in many deaths and disfigurements of those on the clock. Also, this sudden availability of production created greed in the minds of the entrepreneurs. This fervor for creations led to longer and more difficult hours for those employed. The buildings were also poorly ventilated and many workers became ill from inhalation of the charcoal fumes. These close quarters also caused horrible accidents, such as the Triangle Shirtwaist Factory fire of 1911. One of the most notorious of these institutions was the sweatshop, given this name for their close and ?sweaty? quarters. This labor-intensive strategy could be employed only with a large number of workers. Many persons in these sweatshops were lower-class women with few, if any, other options. They were forced to accept these torturous jobs out of desperation and the proprietors took full advantage of this weakness. They were able to raise hours and lower wages. Sweatshop conditions were detestable. Men operated in small basement rooms, poorly lighted and ventilated. The room may or may not have had a floor, and many were forced to work on bare earth. In another room about twelve by fifteen feet in dimension resides the ladies work area. The rooms were filled to overflowing with sewing machines and pressers, making to near impossible to move around. This area was adjacent to tenement bedrooms, separated by a frail partition. In some situations these shops were equipped with a heating and cooling system, lighted with electric lights. Others were not so lucky and worked in uncomfortable rooms aided only with the light of a poor gasoline lamp. The organizers of these factories also did all they could to avoid rent and made sure that the shop was only ?strong enough to sustain the jar of the machines.? (Annals of America 1884-1894, 379.) Maggie was like many of these unlucky women, forced to work at a collar and cuff manufactory in order to maintain her parents' alcohol addiction and to help keep food on the table. Crane placed Maggie in such an environment to elicit a feeling of sympathy within us and possibly reveal to America the situations they were being faced with. At the turn of the century, New York City was the most prosperous American city. The waves of European immigrants coming to New York, the consolidation of New York suburbs into one metropolis, the development of the city's infrastructure, and the incredible construction boom all led to the city's prominence. However, this growth also created a lack of proper housing in the city and residents turned to tenement living as an alternative. These houses were established to accommodate the maximum number of residents possible. It sacrificed floor area to allow light and air to penetrate. It stretched to a height of about four of five stories and was built on a lot by lot approach. The result of development was a donut-shaped block- ?perimeter massing with open space in the block interior.? (Internet source #1.) The establishments lacked indoor plumbing and were crowded and unsanitary. The buildings were entered into off the streets and this created a haven for crime and violence. Even when America, when it became belief that a family needed privacy and isolation to survive, tenement living continued to thrive. The social upheaval of the Industrial Revolution heightened this threat to the family and cultural identity, not only by changing how people lived and worked, but also by bringing in a flood of immigrants

Carnival Case Issues Essays

Carnival Case Issues Essays Carnival Case Issues Essay Carnival Case Issues Essay SPRING 2013 – GLOBAL STRATEGY AND POLICY MAN4720009_2013S_11202: , Schwartz: Tuesday and Thursday 9:30 to 10:50 AM – LA 331 GLOBAL STRATEGY AND POLICY MAN4720009_2013S_11202 Spring, 2013 Prepared for Professor Harry Schwartz, March 14, 2013 by the following students: Robert OndercikZ8384Finance Ron AbrahamZ4458Accounting Jenna FranzoneZ3483Business Management Tabitha Palmisano Z0857Marketing Jeffrey VonZ7035Accounting Aaron SchneiderZ0653Business Management Sabine BorgesZ7510Accounting 1. Current Situation: CRITICAL CASE ISSUES Human Relations (CI #1) Employee and Labor Lawsuits Employees of Carnival are claiming unfair working conditions with poor compensation. (CI #2) Succession Mr. Arison stepping down in the future, who will run company, third generation Arison or someone else. Operation/Logistics (CI #3) The Costa Concordia Cruise Ship lawsuit Cruise ship laying on side, environmental risk, and lawsuits from crash. (CI #4) The Carnival Triumph dead at Gulf of Mexico Pending lawsuits from this event, leading to more negative publicity (CI #5) US Corporate Tax Congress continues to try to charge Corporate taxes on Carnival, but has failed recently. This could change soon. Marketing CI #6) Serving on 20 % of Americans It becomes expensive for customers to get to ports to cruise, discouraging some customers from cruising. Carnival Corporation plc is currently the largest cruise company in the world and is among the most profitable and financially strong leisure travel companies in the world. Carnival Corporation PLC’s portfolio of cruise brands in North America, Europe, Australia and Asia are comprised of Carnival Cruise Lines, Holland America Line, Princess Cruises, Seabourn, AIDA Cruises, Costa Cruises, Cunard, Ibero Cruises, PO Cruises (Australia) and PO Cruises (UK). Collected, these brands operate 100 ships totaling 203,000 lower berths with nine new ships scheduled to be delivered between March 2013 and March 2016. Carnival Corporation PLC is the only group in the world to be included in both the SP 500 and the FTSE 100 indices. A. CURRENT PERFORMANCE Carnival reported net income for the year 2012 decreased to $1. 3 billion compared to $1. 9 billion for the prior year due primarily to a combination of lower revenues and higher fuel prices. Revenues declined $410 million primarily as a result of the Costa Concordia incident. Net revenue yields declined 2. 5 percent due primarily to lower cruise ticket prices and occupancies for the Costa brand. Excluding Costa, Carnival was able to maintain year 2012 net revenue yields in line with the prior year. Even with the many challenges faced in 2012, Carnival generated $3 billion of cash from operations, more than enough to fund our net capital investments of $1. 8 billion. All of the subsequent free cash flow was then returned to shareholders. Carnivals regular quarterly dividend of $0. 25 per share, combined with a special year-end dividend of $0. 50 per share, resulted in $1. 2 billion of distributions to their shareholders. Carnival also purchased 2. 6 million of the company’s shares in the open market at a cost of $90 million during 2012. B. STRATEGIC POSTURE * Carnival remains dedicated to profitably growing our cruise business and driving returns on capital higher. Carnival will continue to increase their fleet through a measured pace of two to three new ship introductions each year. Some of these vessels are expected to replace existing capacity from the possible sales of older, less-efficient ships * Currently, Carnival has nine cruise ships scheduled for delivery through March 2016. * In addition, Carnival is focused on the growth of developing cruise regions. During the previous five years, Carnival has doubled their guest sourcing fro m up-and-coming markets, a trend Carnival expects will continue in the future. CI #6) * Carnival and its Operating Lines place the uppermost importance on guest health, safety and security. Carnivals objective is to maintain an exceptional health, safety and security record. As well as constantly strive to better our health, safety and security standards and procedures. (CI #3 and 4) 1. Mission â€Å"Carnival Corporation plc mission is to take the world on vacation and deliver exceptional experiences that appeal to a large variety of consumers, all at an outstanding value. † 2. Objectives To our stakeholders, this mean: Consumers | Take the world on vacation and deliver exceptional experiences that appeal to a large variety of consumers, all at an outstanding value| Employees | Recruiting and Retaining Qualified Employees. Carnival considers their employee and union relations generally to be good| Business Partners | Carnival shall communicate with our business partners frequently to ensure that we receive high-quality products and services and that our ships receive the goods and services that they need to operate sustainably. Shareholders| The strength of their people, values, culture and mission has driven superior returns for their shareholders. A dollar invested in Carnival stock 25 years ago would be worth 19 times that today, representing a total return almost twice that of the SP 500 over the same period. | Communities | Carnival strives each and every year to make a difference in their homeports and various regions around the world in need. During the past year Carnival Corporation plc gave nearly $10 million to charitable organizations, including a $2 million donation to support Hurricane Sandy relief efforts. | 3. Strategies * Carnival now has its ships in ports that are within reasonable driving range for a good portion of the country. Galveston, San Diego, Mobile, New Orleans, Charleston, Baltimore and New York all have Carnival ships sailing from their ports, making it cheaper and easier for more Americans to cruise. CI #6) * Identify those managers responsible for implementing health, environmental, safety and security performance and ensure that there are clear lines of accountability. (CI #3 and 4) * Promptly report and properly investigate all incident and take appropriate action to prevent recurrence (CI #3 and 4) * Establish and act upon goals and objectives to continually improve our performance * Continue to publicly report to and maintain open dialogue and cooperation with key stakeholders (CI #3 and 4) * Carnival operates Under Section 883 of the Internal Revenue Code; certain non-U. S. corporations (such as our North American cruise ship businesses) are not subject to U. S. federal income tax or branch profits tax on U. S. source income derived from, or incidental to, the international operation of a ship or ships. (CI #5) * Since defueling on Costa Concordia began until 7 a. m. Feb. 17, a total of 251,492 gallons of fuel have been pumped out of 4 tanks located on the ship. (CI #3) * According to Costa Cruise, a total of 377,237 gallons of fuel is still onboard in 13 tanks. Following the schedule drawn up by the Neri/Smit Salvage experts, if sea and weather conditions remain favorable, all of the fuel still on board the vessel should be removed within three weeks. (CI #3) * Carnival has several defined contribution plans available to most of their employees. Carnival also has single-employer defined benefit pension plans, which cover some of their shipboard and shore side employees. (CI #1) 4. Policies Protecting the health, safety and security of Carnivals passengers, guests, employees and all others working on behalf of the Company * Protecting the environment, including the marine environment in which Carnivals vessels sail and the communities in which we operate * Continue to follow Carnivals Corporate Standards which go considerably beyond the requirements of current environmental law and regulations. * Carnival is primarily a foreign corporations engaged in the business of operating cruise ships in international transportation. (CI #5) Key Executi ves: Mickey Arison: Chairman and CEO of Carnival Corporations David Bernstein: CFO and senior Vice President of Carnival Corporations Howard S. Frank: Vice Chairman and Chief operating officer Alan B. Buckelew: CEO and President of Princess cruises Gerald R. Cahill: CEO and President of Carnival Cruise lines Larry Freedman: Chief Accounting Officer and Vice President-Controller Michael Thamm: CEO of Costa Crociere, S. p. A. Arnaldo Perez: Senior Vice President, General Counsel and Secretary Stein Kruse: President and CEO of Holland America Line David Dingle: CEO of Carnival UK Michael Ungerer: President of AIDA Cruises Board Members: Mickey Arison: (Internal) President since 1979 and CEO since 1990 Howard Frank: (Internal) Vice Chairman of the board of directors of Carnival Corporations since 1993, and Chief Operating Officer since 2003. Pier Foschi: (Internal) on the board of directors for Carnival Corporation since 2003. Chairman and CEO of costa crociene SpA. A vice chairman of confitama, the federation of Italian ship owners. Robert Dickinson: (Internal) Director of Carnival Corporation since 1987 and of carnival plc. since 2003. He served as president from 1993-2007 and CEO of Carnival cruise lines from 2003-2007. Jonathon Band: (External) Director of Carnival Corporation and Carnival plc. Since 2010. Stuart Subotnick: (External) Director of Carnival Corporation since 1987 and of carnival plc. Since 2003. Richard Glasier: (External) Director at carnival corporation and carnival plc. since 2004. From 1995-2002 he was executive vice president and CFO of royal Caribbean cruises. Arnold Donald: (External) Director of carnival corporation since 2001 and a director of carnival plc. ince 2003. Modesto Maidique Ph. D: (External) Director of Carnival Corporation since 1994 and of carnival plc. since 2003. He also served as FIUs president from 1986-2009. John Parker: (External) Director of Carnival Corporation since 2003 and of Carnival plc. since 2000. He served as Deputy Chairman of Carnival plc. from 2002-2003 Laura Weil: (External) Director of Carnival Corporation and carnival plc. since 2007 Peter Ratcliffe: (Ext ernal) Director of Carnival Corporation since 2003 and director of Carnival plc. since 2000. 003 to 2007 he served as the CEO of PO Princess cruises. Randall Weisenburger: (External) Director of Carnival Corporation and Carnival plc. since 2007 Debra Kelly- Ennis: (External) Elected to the committee of the carnival Corporation and carnival plc. in January 2012. Conflicts of Interest: Richard Glasier was once the CEO of Argosy gaming and although no longer the CEO he still is a chairman and major shareholder of the company. Argosy gaming mostly deals with casinos but also operates riverboat gambling cruises. There is a definite conflict of interest because he is not only concerned with the success of Carnival Corporation but also Argosy gaming success as well. Even though he is not the CEO anymore he still converses with the top management of Argosy and is up to date about what’s going on within the company as well as knowing about what’s going on in Carnival too. This means he might have information on the companies such as release dates for new ships or new specials that he cannot share with the board members of the other company and if he did it would be ethically wrong. Therein lies the conflict of interest, if he was not on both board then there would be no conflict. Being on both boards is a conflict of interest because he is not only concerned with the success of Carnival but also Argosy gaming as well. Since 2010, Start Subotnick has been the president and CEO of Metromedia. Metromedia is a holding company that has many subsidiaries that operate in various activities such as restaurants, internet, software technology, and more. The main conflict of interest for Subotnick is that Metromedia develops software for the hospitality industry. Since Carnival uses hospitality software to perform most tasks such as when you get checked at the port to the server on the cruise ship placing your dinner order, it would be in Subotnicks best interest to try to get Carnival to use Metromedia’s software. This is a conflict of interest because it might not be what’s best for the Carnival but it what’s best for Metromedia. Mickey Arison: Mickey Arison, CEO and chairman of Carnival Corporation is #64 on Forbes billionaire list in the United States. His father ted Arison founded carnival cruises in 1972. Mickey started working for the company in sales. He quickly moved up the ranks not just because of who his father was but because he was hard working and had great ideas. In 1979 he became president and finally in 1990 he became the CEO and he currently still holds that position. He turned carnival into what it is today, which is the world’s largest and most successful cruise ship company. Mickey said the best lessoned he learned from his father was to â€Å"hire good people to run your businesses, give them the support they need to be successful, and let them do the job you hired them to do. He is known for his â€Å"hands-on† or â€Å"open door management style. He lets his employees’ do their own thing because he knows that they will do it right and he doesn’t have to be watching over them in order for things to get done because he hired the right people. Micky Arison goes above and beyond what a manager does. He is to say the least a competent manager. His company has been the most successful and r ecognizable cruise line in the world for over two decades. Arison learned the basics of the company from the bottom so he could really understand the company and make better decision for the company as a whole down the road. He directed his company to make many acquisitions, including their most important, the acquisition of the PO princess cruises. Royal Caribbean also wanted to acquire the line so it was not an easy fight. Luckily for Arison they got it and with the acquisition it made them a clear industry leader. David Bernstein: David Bernstein Started with carnival in 2003 as vice president and treasurer. He was then promoted in 2007 to senior vice president and CFO. AS CFO and VP of carnival he overlooks all finance, treasury, insurance, accounting, tax, and investor relations. Howard Frank: Howard frank has been Vice Chairman of the board of directors of Carnival Corporations since 1993, and Chief Operating Officer since 2003. He is responsible for the corporate-wide business strategies. He works closely with all carnival corporation management, especially with Mickey Arison. He provides oversight to Mr. Arison of the companies many worldwide ventures. He also serves as a chairman of the executive committee of the cruise line international association. (CLIA) Partnership Management: Based on the information gathered the Carnival Corporation shows a partnership management model. They have many characteristics of this model. There is a high degree of involvement by top management and an equally high degree of involvement from its board members especially since their CEO is also their chairman and they also have a few other top guys on the board. * This enables the top management and board members’ to work more closely with each other to develop strategies and to co nverse on a daily basis about the many things going on in the company. * Howard frank who is the vice chairman of the board is known for working closely with all management of Carnival Corporation plc, As well as with Micky Arison himself, the CEO and chairman of carnival. When disaster strikes the company’s senior management team and board members take on the responsibility for what’s going on and work together to come up with the best strategy to fix the problem. * Also the board creates committees by matching certain members’ functions to their expertise. For instance, David Bernstein was promoted to senior vice president and Chief financial officer in 2007 because of his expertise in finances. He was the CFO of Cunard line and Seabourn cruise line for five years and before that he held various financial positions at royal Caribbean for seven years. Carnivals board consists of 15 members. 3-A. External Environment: Opportunities and Threats A. Natural Physical Environment: Sustainability Issues 1A. Opportunities a. The climate could be a benefactor since nice weather usually attracts tourism and cruising. 1B. Threats a. When the weather is not pleasant on the coasts of the United States, there may be a negative impact on the num ber of cruise ships sailing since the shipping ports are located in these areas. For example, during the hurricane season, cruises along the Atlantic and Gulf coast do not set sail due to danger the storm may bring. . The weather in places like Europe, is not as threatening when it comes down to storms compared to the United States. This lessens the degree of one threat in the European market for Carnival cruise lines. B. SOCIAL ENVIRONMENT 1. Opportunities Economic: * | Potentially expand their luxury liners which can cause an increase in revenue. (CI#2)| * | Increase their capacity of their cruises by 30-40%. (CI#2) | * | Offer more travel destinations that they currently do not offer, such as China, India, and various countries in South America (CI#2) | Technological: | Improvement of the technology on the cruise. | * | Working on their home web page since millions of people visit this site daily. They can improve their format so that it would be better understood and easier to n avigate by people in foreign countries. | * | Using more technological machines for the cleaning staff; for example, to check off each room that was cleaned or is in need for something, such as towels, toiletries, blankets, etc. (C#1)| Political-legal: * | Avoiding paying some of the taxes that other companies in the same industry pay for. CI#5)Ship waste disposal is highly unregulated; waste is dumped off shore without any consequences from a legal point of view. (CI#5)| Sociocultural: * | The diversity of customers that are traveling with Carnival Cruise Lines for their vacation get-away is very large. (#CI2)| * | Brand name is well known among the society. | * | Reached an agreement with Italys Fincantieri shipyard to build a 2,660-passenger vessel for Holland America and a 4,000-passenger vessel for Carnival. Ships should be delivered by 2015. This will generate more revenue in the future. CI#2)Some people take a cruise with carnival just to gamble in the casino because some sta tes do not have any casinos at all. | 2. Threats Economic: * | Prices of fuel constantly increase. (CI#6)| * | One of the biggest weaknesses that the company and the industry itself are facing is hurricanes and bad weather during specific seasons. Revenues go down, refunds go up. | Technological: * | Technological problems on-board which can be a big threat for Carnival. For example, the latest incidence was last month. Carnival ship was stuck at sea for almost a week because of technological mishaps. This caused many lawsuits, refunds, and a bad reputation for the brand. (CI#1)| | | Political-legal: * | Progressive accumulation in water waste caused the cruise line to pay millions in fines. | * | More regulators are trying to force Carnival and other cruise line companies to pay more taxes. (CI#5)Major law-suits of the sinking Costa Concordia. (CI#3)| | | Sociocultural: * | Seasick; some people can’t take a cruise because they get seasick after a while. People that suffer from this generally do not board lengthy cruises. | * | Most people do not eat at the higher class restaurants because the dining room is complementary. Most passengers are generally not looking to spend more money on a cruise that was already paid for and clearly states that it is â€Å"all inclusive†. (CI#6)| * | For some people cruises can be very pricy. (CI#6)| | | 2. Some of these opportunities and threats are different in other parts of the world because of different climate, economical issues, and different regulations. III. Internal Environment: Strengths and Weaknesses A. Corporate structure 1. Carnival Corporation and Carnival plc operate under a dual listed corporation structure with primary stock listings in the United States and the United Kingdom. Carnival corporate structure is based on the concept of â€Å"profit center. † a. The decision making authority is decentralized. b. The corporation is a fleet organization worldwide. For the most part, most of Carnival business runs in North America and Europe. 2. Carnival keeps telling its employees this phrase: â€Å"do one thing and do it better than anyone else†. Well that could sound very promising, but from a personal experience I enjoyed royal Caribbean a lot more than I did with carnival. Whatever the CEO preaches to the employees does not really justify the truth. To clarify, Micky Arison the CEO of the company quotes: Carnival doesn’t view a cruise the way Procter Gamble would view toothpaste or Dial would view soap. Each of Carnival’s lines has its own personality and corporate focus. (CI#2) 3. The current structure of the company is pretty much consistent with all of its objectives, strategies, policies and programs, as shown and seen in their financial report their profit keeps increasing. (CI#2) 4. The structure of Carnival cruise is very similar to the other cruise companies that strive to succeed and make money. B. Corporate culture 1. Carnival Corporation maintains a friendly, family-like atmosphere on all of its ships. I agree to this based on my previous experience on their ships. ( CI#1) 2. In my opinion, the corporate culture is consistent with current situations of objectives, strategies, policies and programs. They have an â€Å"open door† policy where each and every employee can communicate with upper division managers and let their voice to be heard, and the reason for that is to benefit the employee and potentially even benefit the company. CI#1) 3. â€Å"Unique to the cruising industry is its promotion to protect the environment. The core values include preserving the marine environment and, in particular, the pristine condition of the waters upon which our vessels sail. † This statement is posted on the Carnival website and is the biggest flaw that I have noticed with the company. They are constantly polluting the water, dumping trash into the water, and they contri bute a great deal to air pollution. Therefore the statement above is not accurate. (CI#4) 4. Carnival employs a variety of different kinds of people from various different cultural backgrounds. Many employees that work for Carnival have different ethnic backgrounds but are all being treated equally(CI#1) 5. The company does take into consideration the value of cultures of each nation the company operates in. This is shown in the diversity of Carnival employees and their cultural backgrounds from all around the world. (CI#1) 3-B. Corporate Resources Finance IV. All numbers in millions except for ratios | 2012| | 2011| | 2010| | | Carnival| RC| Carnival| RC| Carnival| RC| Revenues| 15,382| 7,688| 15,793| 7,537| 14,469| 6,753| Operating Income| 1,642| 403| 2,255| 932| 2,347| 803| Net Income| 1,298| 18| 1,912| 607| 1,978| 515| Net Profit Margin| 8. 4%| 0. 2%| 12. 1%| 8. 1%| 13. 7%| 7. 6%| EPS| 1. 67| 0. 08| 2. 42| 2. 80| 2. 47 | 2. 4| OperatingCash Flows| 2,999| 1,382| 3,766| 1,456| 3,818| 1,663| Debt to AssetRatio| 39%| 58%| 38%| 58%| 39%| 60%| V. Financial Analysis The chart above displays a list of relevant figures and ratios for the Carnival Corporation. It is important to highlight that some of these numbers show increasingly negative results each year. If this negative trend continues it would represent a significant problem for the company, as it would become unprofitable. But how does Carnival compare to others in the industry? Two key players dominate the cruise industry. According to a report by Cruise Market Watch, Carnival Corporation controls 48% of the market share, Royal Caribbean controls 23%, while the rest is controlled in small portions by over 30 other companies (Cruise Market Watch). By generating double the revenues of Royal Caribbean, Carnival is clearly the leader in this industry. For the purpose of this section of the paper, we analyzed the financial statements of Carnival Corporation to measure the health of the company. We will also use financial ratios which best allow us to compare Carnival side by side to its smaller but closest competitor, Royal Caribbean. A notable decline can be seen in the operating income. This figure is considered by analysts to be one of the most important on financial statements because it reflects to a great extend the strength of the company and success of its core business operations (Kennon). Operating income is arrived at by subtracting operating costs and expenses from gross revenues. It is the profit that is left to invest, expand, pay debt, distribute to shareholders, and achieve other objectives that a company may have (Kennon). For Carnival Corporation, Operating income declined 27% from 2011 to 2012. Let’s see why. Carnival mainly generates its revenue from the sale of cruise tickets and onboard items and services (Carnival). Although revenue has remained stable in the past years, operating income has been declining which indicates that the company is making less and less profit of the revenue it generates. This could be due to several reasons, but in the case of Carnival Corporation, there are two major factors. One is the rising price of fuel. Cruise companies are heavily dependent on fuel and any change in its price has a significant impact on the company’s financials (Carnival). From 2011 to 2012, the carnival’s fuel expense increased 7% or $188 million. Another factor that has affected profits for the company is accidents. In its annual report for fiscal year ending 2011, Carnival Corporation included a note to its shareholders regarding the tragic event of the Costa Ship (Carnival). It states that the company takes careful measures to prevent accidents such as the Costa cruise incident (Carnival). In the 2012 Income Statement, Carnival Corporation reported $28 million for â€Å"ship incident-related expenses that were not covered by insurance, including a $10 million insurance deductible related to third party personal injury liabilities (Carnival) CI#3. It is safe to expect that in the 2013 financial statements, Carnival Corporation will again report incident expenses not covered by insurance and possibly higher ones due to the â€Å"Triumph† ship incident CI#4. Although Carnival’s decline in operating income is significant, Royal Caribbean’s 56% decline truly is worrying. Even though Royal Caribbean had nothing to do with the Costa ship incident, there were indirect consequences that affected the company. Royal Caribbean had to report a $413. 9 million impairment loss because â€Å"booking volumes and pricing are down substantially in Spain due to the impact of additional austerity measures there, the lingering impact of the Costa Concordia tragedy and other factors†(Royal Caribbean). Now let’s compare the two companies in terms of efficiency generating profit. The profit margin ratio shows how much after-tax profits are generated by each dollar of sales (Kennon). It is a good indicator of how efficiently a company manages its resources and how well it keeps costs under control. Carnival Corporation has an 8% profit margin. In other words, of every dollar that the company receives from sales, only eight cents represent profit. With expenses increasing more than revenues each year, a low profit margin represents another sign of potential unprofitability. However, taking into consideration Royal Caribbean’s 0. 2% profit margin, which means that they keep much less than a penny for every dollar they sell, Carnival Corporation is performing much better than Royal Caribbean. Off course, there are additional expenses that are not calculated in operating income like interest and tax expenses. It is worth mentioning that carnival corporation currently does not pay any U. S. federal income taxes because it qualifies for the benefits of section 883 of the Internal Revenue Code (Carnival). Section 883 basically states that some non-U. S. corporations that generate income from the operation of ships are not subject to federal income tax in the United States (Carnival). However, the closing of this tax loophole could become a potential threat for Carnival, as it would significantly affect their net income in subsequent years CI #5. Senator Jay Rockefeller of West Virginia confronted representatives of the cruise industry in a hearing last year (Walker). Senator Rockefeller questioned why Carnival, a company that sells to many American and extensively benefits from the resources of forty U. S. ederal agencies, gets to pay no federal income taxes (Walker). Let’s analyze the Debt to Asset ratio, measured with total assets and total liabilities. Carnival Corporation has a 38% Debt to Asset ratio which by itself represents an okay picture. More specifically this means that debt was used to finance 38% of the assets. On the other hand, Royal Caribbean has a 58% debt to asset ratio which indicates that the company m ay run into problems borrowing more money in the future. For its debt, Carnival paid $336 million in interest in 2012, a healthy amount compared to the $2. 3 billion operating income (Kennon). Operating income divided by interest expense gives us interest coverage ratio, which indicates problems when it is below 1. 5 (Kennon). But carnival has a 4. 8 interest coverage ratio which means that there is still room for earnings to decrease before the company would default on bonds and loans for not being able to keep up with interest (Kennon). But will Carnival be able to meet short-term liabilities? The current ratio is short-term indicator of the company’s ability to pay its short-term liabilities from short-term assets; how much of current assets are available to cover current liabilities (Kennon). A healthy current ratio is greater than 2, but for Carnival Corporation’s is only 0. 25 which indicates that meeting current obligation could be a problem for the company (Kennon). But again we see that Royal Caribbean may have a bigger of a problem since their current ratio is only 0. 08. Another important factor to point out from the financial statements is that operating cash flows show a declining trend. From 2011 to 2012, cooperating cash flows declined 20%. What this means is that unless the current trends change, the company may start running out of cash and become unable to fulfill its obligations, which could lead the company into filing for bankruptcy. Interestingly, Royal Caribbean’s cash flows also declined 20%. However, it is worth mentioning that cruise companies have the advantage of receiving money for unearned revenues because cruise tickets are generally paid in advance. It’s like getting loans at 0% interest. Another important figure to analyze is Earnings per Share (EPS), which is especially important to stockholders. Carnival’s $1. 67 EPS means that if net income was divided amongst all outstanding shares, investors would receive $1. 67 per each share owned. Although a good EPS does not necessarily represent company strength or weakness, its changes affect the price of a company’s stock and therefore it is one of the most looked at figures by investors (Kennon). Based on EPS only, Royal Caribbean may not be an attractive choice of stock since their EPS is only $0. 08. Corporate Resources Marketing Product (Service) Carnival sells cruise tickets for vacations around the globe. Although Carnival markets the experience on the cruises as the vacation destination, their ships go to hundreds of destinations worldwide. Carnival sells numerous products and services onboard either directly or through independent concessionaries from which a commission is collected. Some of the onboard products and services offered that are not included in the ticket price include â€Å"liquor and some non-alcoholic beverage sales, shore excursions, casino gaming, gift shop sales, photo sales, full service spas, communication services, art sales, a wide variety of dining options and laundry services† (Carnival). Moreover, Carnival offers shore excursions and activities, and depending on the destinations, it owns or has stake in hotels where customers are offered a stay in a vacation package. In addition, carnival owns or leases private islands where it operates â€Å"among other things, beach bars and restaurants, water sports, sky lifts, cabana rentals and a surf rider attraction† (Carnival). Promotion: Carnival’s annual report states that each of its brands has â€Å"comprehensive† advertising programs designed to attract the local market. The principal mediums used for marketing and advertising are television, magazine, radio, outdoor billboards, direct mail, e-mail, online websites, online advertising and social media† (carnival). Social media’s utilized are facebook, Twitter, YouTube and Pinterest. In 2012, Carnival’s facebook pages reached over five million â€Å"likes†. In addition, Carnival has â€Å"past guest recognition programsâ₠¬  designed to give past guest’s incentives such as reduced prices and gifts in order to create customer loyalty. Price: Through its many brands, ships, and packages, Carnival claims to provide an option for every generation, taste, lifestyle, and off course, budget. The company categorizes their â€Å"cruise experiences† as contemporary, premium, and luxury. A contemporary experience is the cheapest and most casual alternative, lasting a week or less. A premium experience is designed for experienced consumers with an emphasis on quality, comfort and style and lasts from a week to two weeks. The most expensive alternative is the luxurious, which provides high standards of accommodation and service in a smaller cruise. All cruise tickets include dining and entertainment but other options are available at additional prices. Carnival’s brands all offer special promotions, early booking or past guest recognition programs that reduce the regular price of a vacation. But regardless of the type of experience and discounts taken, cruise ticket prices can vary due to many factors including demand and season. To have little bit of an idea of prices we went through the steps of booking a vacation on carnivals website. The first thing we noticed on the carnival-U. S. website was a sale of â€Å"up to $200 off + free upgrades for 3-5 day sailings† or â€Å"up to $400 off + free upgrades for 6+ day sailings. Using this sale, for travel in July and departing from Miami on a cruise to Bahamas, the cheapest alternative per person came out to be $330. On the other hand, high-end vacations can cost thousands of dollars. Place: Consumers can always book their cruise vacation directly on the company’s website. But according to Carnival Corporation, their cruise vacations are sold â€Å"mainly through travel agents, including wholesalers, general sales agents and tour operators that serve our guests in their local markets† (Carnival). Accordingly, the company puts a lot of emphasis on their relationship with travel agents. Carnival provides additional commission incentives to travel agents in order to motivate them to sell more of carnival’s vacations. Carnival also provides agents with educational tools such as training seminars, online courses, and videos for them to better understand and sell Carnival’s products and services (Carnival). . TASK ENVIRONMENT Threat of New Entrants: medium * Economies of scale: expansion of current companies is the greatest weapon against new entrants. The few leading companies, Carnival, Royal Caribbean, ; Disney, purchase or build larger ships or renovate older ships. Carnival, the leading giant of the industry, â€Å"As of January 20 11, the company operated 98 cruise ships with a passenger capacity of 191,464 berths. The company operates through four segments: North America cruise brands; Europe, Australia and Asia (EAA) cruise brands; cruise support; and tour and other. (â€Å"Global hotels†, 2012) * Government regulations: as a global industry, it is very difficult for government of any particular countries to impose regulations. Therefore lack of enforcement or adherence to regulations regarding employment, safety, and health requirements make it less bureaucratic for a new entrant. * Capital requirements: large capital is required to own and maintain a ship. * Product differentiation: many companies offer a variety of theme cruises to attract or cater to different needs or preferences. It is an opportunity for a new comer although quite difficult to grasp. Access to ports cannot be so easily obtained. There are very few ports embarkations in populated cities. Giant companies sometimes share ownership of ports when they financially contribute with state government to build them. Rivalry: medium high * Capacity growth: the cruise industry is driven by capacity maximization; every square inch of space must be utilized to accommodate and maximize the experience of the passenger. * Service characteristics: cruises and ships are designed to cater to the various ‘wants’ and preferences of different demographic around the world. Many cruise lines difference themselves by the amenities or destinations they provide or offer. This uniqueness in the service adds an edge to the competitive field. Creativity is key in designing cruise themes that respond to or attract unexploited market niches. * Rate of industry growth: based on various reports the industry is growing at a much slower pace in North America than Europe and Australia. The slow growth may be because of the economic downturn that we are facing or it may be the result of how difficult it is for the cruise industry to reach the wallets of more Americans. Number of competitors: the industry is somewhat fragmented and few competitors have a hand in multiple niches. Competition is very high in the industry because they are fighting for a bite of a pie that is already small. The companies try to maximize their revenues by offering attractive prices and exotic destinations to customers. (Lester, Thyne, ; Weeden, 2011) * Switching cost: can be high or low ba sed on the type of cruise that is analyzed. Threat of Substitute Products or Services: medium high * Existence of substitutes: land-based vacations are the biggest threat to the industry. The cost is half or one third less expensive, the vacationer has more control in land than over sea, greater sense of security towards land than sea. Although land transportation does not provide the sea experience that a cruise does, it is by far preferred to sea transportation. Also, a cruise is considered a luxury item and can be compared to the purchase or acquisition of luxurious items such as jewelry, high-class automobiles or whatever else discretionary money is used for. A cruise is not a necessity; it is a choice, a reward or a gift to oneself or loved ones. The rating of medium high is mostly due because of the fact that choosing a cruise over a road trip, a flight, a hotel is determined by preference and affordability. * Switching cost: the only cost is the loss of the experience of the cruise. Power of Buyers: medium low * As a luxury item, the cost of a cruise is not negotiable. The expectation of a high cost is lightly brushed with the hope that a cruise will not drain a savings account. The buyer does not have a significant influence on the price. Prices are more inelastic than elastic. Backward integration is quite impossible, the capital necessary to lease or purchase a ship is over tens of thousands dollars. Average passengers cannot afford it. * Alternative suppliers do exist but high product differentiation does not allow the buyer to compare oranges with oranges, more likely the buyer has a choice between grapes or oranges. Moreover, the same company under different names may offer different theme or budget cruise. Cruise com panies own more than one cruise lines, therefore choosing one cruise line over another may not represent a competitor’s advantage. Carnival and Royal Caribbean cater to different income brackets, Windstar offers exotic destinations for adventurers, Disney Cruise Lines are more family oriented. (Deep sea, 2012). * Due to the hefty price of a cruise, the buyer has a high expectation about the service. The demands and expectations of buyers greatly influence the marketing techniques and expansion projects that cruise companies undertake. Brand recognition is a magnet to create and retain customers and helps increase demands. Power of Suppliers: medium high * Supplier dominance: only a few companies build ships, provide staff and services to cruise companies. Forward integration for suppliers is less likely but backward integration for the cruise line industry is highly possible. Carnival uses backward integration to reduce costs and retain control of how its ships are built. * Product and services that the suppliers provide to cruise lines is very unique and specific to that industry; switching cost is high. What t hese suppliers make or produce can only be sold to the cruise industry. * Economies of scale: purchasing industry is very important to the supplier. All the major cruise companies own at least 5 to 10 cruise lines; which strengthen their purchasing power. However, there are not that many suppliers to choose from. Having limited purchasing options, increases the power of the suppliers. Relative Power of Other Stakeholders: very high * Special interest groups: environmental activists voice their concerns to the industry and directing their attention to fuel emissions, waste water dumping and few others. Thousands gallons of sewage and water bathroom water are discharged untreated in the ocean daily. Onboard observers are placed on ships that use ports in Alaska to ensure that wastewater is sanitized before being dumped in the ocean (Klein, 2011). In his article, Klein also indicated in his article that the daily fuel emission of one cruse ship could be equivalent of that of thousands of cars. * Loyal customers: their perception regarding the safety of the industry affects their decision about whether to use discretionary money on a cruise or elsewhere. It also taints their views of the brand recognition. They are less likely to refer that cruise line or to become repeat customers. * Travel agencies: most cruises are sold and advertised by travel agencies. Travel agencies are described by Cruise Lines International Association (CLIA, 2011) as ‘the distribution channel offering the best service† to the cruise industry. * Government regulations: even though some of the big companies have headquarters in the USA, they are incorporated in Antillean territories such as Panama, Bahamas, and Virgin Islands. Doting a ship with a flag registered in countries like Liberia and Panama, becomes a convenient avoidance tool that shields the cruise companies from adhering to labor and environmental laws, health and safety regulations, and most importantly avoid paying corporate taxes. Airlines industry: they provide means of transportation to different ports (from one state or one country to another), when airfares are high, it adds to the cost of transportation to a port. To overcome this dependence more ports are being built in areas that can be driven to. * Local communities: when a cruise ship arrives at a destination, the community of that foreign location receives the passengers. How passengers and the cruise line are received affect how the cruise experience is perceived. * Global workforce: many describe the work environment as ‘sweat ship’ and it does not project positively on the companies. In the cruise industry, employees are in contact with passengers 24 hours a day and for several days; an unhappy or miserable employee is contagious. It does affect indirectly the bottom line of the company. Lack of respect, living quarters, rigorous demands of the job, being underpaid, language and culture differences separate the cruise workforce from the visibles and the invisibles. The cruise industry is part of the service sector; an unhappy, mistreated, undervalued workforce does not contribute to a pleasant experience for the passenger (Agaard, Larsen, ; Marnburg, 2012). SWOT ANALYSIS Strengths:1- wide variety of theme cruises Case issue #6 2- largest ship capacity Case issue #63- backward integration4- heavily invest in marketing Case issue #65- experienced managenent Case issue #1, #3 ; #4| Weaknesses:1- Corporate culture regarding ship workforce Case issue #12- PR handling of current sea tragedies Case issue #3 ; #43- HR: employee training and recruitment Case issue #1| Opportunities:1- partnership with travel agencies Case issue #62- leader in environment protection ; safety Case issue #3 ; #43- Adopt a global standard of ethics ; conduct Case issue #14- develop a positive rapport with ship workers Case issue #15- treat labor force as valuable contributors Case issue #1| Threats:1- Extra costs (taxes, cleaner waste water) Case issue #52- slow growth of North American market3- workforce motivation Case issue #14- land-based transportation and hotel resorts Case issue #65- brand recognition mudded by sea tragedies Case issue #3 ; #4| MODIFIED TOWS SO Cross referencing * The capability of backward integration puts Carnival in a better position to build ships that are safer friendlier to the environment while controlling costs. S3, O2 Case issue #3 ; #4 * Experienced management can develop standards that could help improve the workforce environment on board. S5, O3, O4, O5 Case issue #1 * Sharing marketing techniques with travel agents may improve and strengthen their relationship. O4, S1. W2, O2, Case issue #3 ; #4 * Treating employees as valuable contributors helps HR in their recruitment strategy. W3, O5 Case issue #1| ST Cross referencing * Experienced management can use their expertise to create a working environment that empowers and values the ship employees. S5, T3 Case issue #1 * Marketing techniques is the best weapon to weaken the threat of substitutes and ‘clean’ the brand. S4, T2, T4. T5 | WT Cross referencing * When morale is low, ‘the ship may sink’. Employees are the foundation of companies, the weaker the base, the less solid is the company. W1, W3, T3 Case issue #1 * A PR is the voice of the company. After a tragedy, responsibility, reassurance, and compensation is key in re-building confidence. The opposite drills the hole deeper. W2, T4, T5 Case issue #3 ; #4| 5. EVALUATE STRATEGIC ALTERNATIVES Alternative #1 Pause/Proceed with Caution Strategy: Proceed with caution until they are able to evaluate how the new tax and fuel regulations will affect the company and how to go about decreasing lawsuits due to employee exploitation and onboard guest safety. (CI #1, 3, 4, 5) Pros: * Customers will continue to do business with Carnival if they feel that they are working to improve the ship’s safety. * Employees put forth more effort if they do not feel as though the company is taking advantage of them and increased motivation from the staff can increase the company’s bottom line. Cons: * Only making small changes gives the competition a chance to catch up. * Nothing can be done to stop new regulations, so the company is bound to lose profits if there is an increase to fuel prices and taxes. Alternative #2 No-Change Strategy: Since Carnival Corporation ; PLC has the largest ship and passenger capacity in the cruise industry with many diverse brands they can continue to do what they have been doing and hope they remain ahead of the competition even with the replacement of Mr. Arison in the future (CI #2). Pros: * Carnival is already one of the most profitable cruising companies with a 47% market share in the UK, 68% in Italy, 51% in Germany and 45% in France, so they are dominating the global market competing mainly with Royal Caribbean. * Doing nothing new gives the company time to fix some of the current issues. Cons: * Competition could pass and take control of market if Carnival sits idly by especially with growing customer concerns about safety of the ships. Profits are already decreasing from previous years so doing nothing new could keep the company from enjoying profits that could be acquired with innovative ideas. Alternative #3 Horizontal Growth Concentration Strategy: Carniva l can increase operations in the current European market as well as reaching out to new regions (CI #6). Pros: * Carnival derives a majority of its revenue (nearly 52%) from US customers which is currently on the decline, so it would be beneficial to tap into other markets around the world. * Carnival already has market presence in Europe, so it would not be as difficult to increase capacity in that region as opposed to starting fresh somewhere else. Cons: The value of the dollar against Euro appreciated from 1. 60 in January 2010 to 1. 53 by April 2010 against the Pound. If the dollar strengthens it would record lower revenue than is actually earned. * The European economy is also faltered, so profits are not guaranteed and an increase in operations could instead cause a company lose. RECOMMENDATION I would recommend that Carnival begin with the pause and proceed with caution strategy for at least 1 to 2 years. This would give them time to get the company back in line with the aspi ration of earlier business days when the safety and satisfaction of customers and employees came before the profits of the corporation (CI #1,3). Once they are back on track I would then recommend for Carnival to go forward with the horizontal growth. It is in their best interest to reach out to untapped markets particularly since there is a decline in the current US regions and they are looking for ways to increase revenues since Carnival is only currently reaching 20% of the total US market (CI #6). Growing horizontally in any market has significant financial implications for a cruise company. Considering that the newest Carnival Dream-class ships cost $740 million each (Shipcruise. org), it is a very expensive strategy to implement. In addition, the company would have to engage in research, planning, training, and marketing activities which can be very costly. Because Carnival’s balance sheet shows $465 million in cash, it will most likely be necessary for the company to borrow money to finance their growth. But borrowing money would not cause any problems for Carnival Corporation because as we analyzed earlier, the company has a healthy interest coverage ratio which measures the ability to pay interest on outstanding debt (Kennon). Although it is costly and risky, investing the money to expand into new and existing markets now, Carnival would have the potential to increase its revenues in the future years to offset the increasing costs. Carnival is already in the process of building two new ships to be entered to service in 2013 and 2014 and estimates that these two new ships will increase their passenger capacity by 19% (Carnival). Also, a continuous growth by the largest company in the industry could drive some of its competitors out of business and capture a larger market segment. 6-A. Implementation After an extensive in-depth review of the Carnival Corporation ; PLC, it is apparent, as with any large corporation it has many strengths and weaknesses. Carnival and its subsidiaries have a dominating; nearly 50% market share and strong support base among its customers. With plenty of loyal customers, and many recognizable and respected brands it would  appear to have few  problems. However, despite all the good attributes, several recent negative events have arisen concerning both  safety and corporate concerns, which have shaken the company and its shareholders. 6-B. What must be done?  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   1. Shareholder Confidence  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   2. Safety Concerns  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   3. Improvements and New Ship Building Action Steps| Responsibility| Start-End  | Financial impacts| Questions? | Concern:| WHO? | WHEN? | HOW MUCH? | What Must be done? |   |   |   |   | | 1. Shareholder Confidence| Micky Arison (CEO), Upper Management| 4/1/13-Ongoing| Determine Future Earnings|   | 2. Safety Concerns| Upper Management,Howard S. Frank (COO)| 4/1/13- 12/31/13| Cost of Training and current safety assessment|   | 3. Improvements and New Ship Building| Upper Management, Design Team,David Bernstein (CFO)| 4/1/13- 4/1/16| Set budget for cost of research| Shareholder Confidence Over the last 5 years Carnivals stock price has  collapsed. Granted, the worldwide economy has endured one of the worst periods in history, but In 2008 the stock was trading roughly 15% higher than what it is today, and between that time it fell as much as 70% to the 2009 lows. I believe Micky Arison (CEO) should be focusing on how to re-energize and grow the company in the face of some very difficult times. I believe this could be achieved by continuing to expand to new entrant markets in Asia, Europe and Australia. The United States has been saturated for some time, with little growth and shrinking profit margins due to fierce competition. In addition the company must provide a great experience for clientele in order to ensure repeat business, which is essential to Carnivals success. Safety Concerns Over the last couple years Carnival has experienced several bad events and even worse publicity. This has caused many to suspect wrong doings and create concerns over safety. Incidents like the MS Costa Concordia in 2012, which was one of the worst  disasters in modern cruising history, in which 34 people were killed and the ship was a total loss costing nearly 600 million dollars are a nightmare for a cruise line. In a more recent case, the Carnival Triumph endured an engine fire disabling the ship and causing the boat to be stranded at sea for several days. Although no one was hurt, it  caused a severe inconvenience to the passengers and crew. Tales of rotten food and overflowing toilets ran for several days on international media. Safety should always be of utmost concern with any industry. The last thing people want or need is to have a feeling of insecurity  on a vacation. Cruises overall have been very safe for many years but still in the back of many people’s minds the thought of the Titanic lingers. Carnival needs to make sure people know that safety is  the top priority of the Carnival Corporation. Although it shouldn’t be pushed to the point where people get scared, it definitely needs to be continuously addressed. Carnival needs to constantly implement the most modern safety techniques and they must educate the crew how to keep passengers as safe as possible. Improvements and New Ship Building Because of the fierce competition in the cruise industry it is vital to constantly upgrade older ships and build larger and more desirable new ships with more features and amenities. A new trend in the industry over the last couple decades is to build bigger and bigger ships. Cruise lines such as Royal Caribbean have been very successful over the last decade by initially building  100,000 Gross Tons ships. Since then the Oasis Class that is well over 200,000 Gross Tons has been put in service. Carnival and its subsidiaries aren’t necessarily building the biggest ships but they are uilding larger ones as well. I believe this is very important because more and more people are going on cruises for the entertainment rather than the ports. Many cruise goers are like the typical individual who want th e newest and the best and this is the reason it is pivotal for Carnival to keep up with the new trends of constant upgrades and services. 6-C. How should it be put into action? Action Steps| Responsibility| Start-End  | Financial impacts| Questions? | Concern:| WHO? | WHEN? | HOW MUCH? | How should it be put in action? |   | Micky Arison (CEO), Howard S. Frank (COO), Upper Management| 4/1/13| Determine budget in conjunction with finance dept. | Concerning safety, it must be a top priority to follow the standard government mandated procedures, which are given to the entire Cruise Industry. Carnival can go above and beyond this by simple measures such as drills and employee training. They can go beyond the recommend amount of life jacket and lifeboat requirements. I believe the biggest concern is to hold top officials such as the Captain responsible for such disasters as the MS Costa Concordia. Carnival is doing a great job in terms of shipbuilding and upgrades. They have kept up with the competition so in my personal opinion I believe the company needs to make security a given so that passengers focus on the amenities of the cruise ship. The company should also take guest recommendations seriously and look at what competitors such as Royal Caribbean are doing in newer ships and follow as well. As for the Shareholders it is important for Carnival to insure that it is strong and well managed, generating consistent profits and growth. This is very important to any shareholder and I believe this can be achieved by expanding to new markets in  Asia, Europe and Australia. Logistics is also important to have available ships to move to these new ports to expand. 6-D. Who should do it and when should it take place? Action Steps| Responsibility| Start-End  | Financial impacts| Questions? | Concern:| WHO? | WHEN? | HOW MUCH? | Who Should Do it and when should it take place? |   | Micky Arison (CEO) Howard S. Frank (COO), Upper Management,  | 4/1/13| Determine budget in conjunction with finance dept. | Carnival and its subsidiaries future expansion and safety goals need to be implemented and enforced at senior management levels in order for the employees to know that it truly is important to the companys success. It takes a strong leader to do what’s necessary for future growth and fend off new fierce competition within the industry. It is important to start as soon as possible because the competitors within the industry will try to take advantage of Carnivals recent problems. I believe safety is a big concern with two major issues within a year of each other. This has brought bad press and will most likely follow up with loss of customers in the future. 6-E How much will it cost? Action Steps| Responsibility| Start-End  | Financial impacts| Questions? | Concern:| WHO? | WHEN? | HOW MUCH? | How much will it Cost? |   | Upper Management,Micky Arison (CEO),David Bernstein (CFO)| 4/1/13| Set budget for cost of research| Modern cruise ships  cost no less then 250 million dollars, with the most expensive costing well over 1 billion dollars. Carnival as well as the rest of the industry has absorbed these costs by constantly upgrading ships every year or two rather then building many ships at once. They also have sold older ships to other cruise lines, or even created new cruise lines with their older ships to cut costs and continue making more money with new locations around the world. As far as safety is a concerned it shouldn’t cost much considering a large amount of the cost of new cruise ships is equipping them with the most modern safety equipment available. It is very important for the employees be able to use and know this safety equipment because it is worthless if the staff doesn’t know how to use such equipment. Work Cited Carnival PLC. (2012, March 03). Carnival corporatoion ; plc 2012 annual report. Retrieved from http://phx. corporate-ir. et/phoenix. zhtml? c=140690;p=irol-reportsother2 Carnival PLC. (2010, March 03). Carnival corporatoion ; plc 2010 sustainability report fiscal year 2010. Retrieved from http://phx. corporate-ir. net/phoenix. zhtml? c=140690;p=irol-sustainability_env Carnival Corporation ; PLC. 2012 Annual Report. Washington, DC. 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