Strategic Planning Essay - Free Essay Example

Sample details Pages: 4 Words: 1305 Downloads: 10 Date added: 2017/06/26 Category Management Essay Type Narrative essay Did you like this example? Strategic planning, a necessary tool to aid in the strategic decision making process of a firm covering long range of time. The process involves managing resources efficiently and analyzing the environmental threats and opportunities as well as the strength and weaknesses of the firm (Lorange, 1978). This essay will explain and disagree with the statement that the only difference of strategic planning in domestic and international markets are the currency and language difference. For an MNC to be headquartered globally, its strategy has to take into account many other factors but the essay will discuss only about how the firm’s resources are allocated and the economical-cultural-political forces in the macro environment that affect them. A firm has to deal with the allocation of resources internationally in order to exploit the opportunities and threats into its advantage. If the targeted market is saturated with potential new entrants, existing internat ional competitors, and substitute players, fierce competition and low profits are to be expected. Resources are scarce and they are required to support and sustain attacks from competitors. Furthermore, they have to monitor the country’s economic state such the consumption power including its interest rate which is critical to borrowing funds locally for investment. These factors are important when deciding whether to expand into foreign markets or not. For firms introducing their domestic matured product internationally, the product life cycle will be different from one country to another. Accordingly, investment can be modified and market share can be dominated more efficiently. Therefore, economically, strategies need to be low-risk, high value and sustainable. Hamel and Prahalad, in their work, described the strategies used by foreign MNCs when competing against each other. When a global firm uses financial resources of one subsidy to fight a competitor in another s ubsidy, it is pursuing a cross-subsidization strategy. When a firm competes with a larger competitor, it is not enough that it is financially equipped. It needs to funnel resources globally back to the defending market or raise them locally if cross-border movements are hindered by exchange risk or regulations. However, caution is needed to ensure that the firm’s borrowing needs are not revealed as it can lose strategic competitive surprise. One scenario was â€Å"thrust and parry† which uses cross-subsidization when an aggressive MNC attack another MNC in its domestic market, the defensive MNC retaliate by targeting a market where its aggressor is most vulnerable with least cash flow. For example, in international tire market Michelin used its strong European profit base to attack Goodyear’s American home market. Goodyear, retaliated back in European instead of in US market because Michelin would expose only a small amount of its worldwide business in US wit h very little to lose. Goodyear, on the other hand, would sacrifice margins in its largest market. Firms have to choose between the cost effectiveness of off-shore sourcing their production and the competitive effectiveness based on the ability to retaliate in competitor’s key markets. The main concept here is not to sell at price lower than the market’s but rather to squeeze the competitor’s margins just enough to dry up its attacking strategy to force its expansion down. Price level difference may provide not only the means but also the motivation for cross-subsidization. Competitiveness due to labor cost and scale advantage itself is vulnerable since labor costs change due to development of economies or exchange rate fluctuate. Low cost manufacturing locations change, from Japan to Korea, Thailand to China as well as scale-based cost advantages change, particularly due to manufacturing technology. Here, resources not only refer to monetary aspects but a lso human capital of the firm and its knowledge. Firms with enough skilled workforce and management skills can create transfer their learning effects from domestic to their international subsidiaries and if these skills are unique, they can become the firm’s competitive advantage. For example, America’s Silicon Valley host the top consumer electronics and technology research centers such as Apple and Intel, meaning the attractiveness of that location is its workforce’s innovative culture. While thinking of different strategies, there are external threats such as the culture shock where foreign entry are resisted due to the attitude of local employees and therefore, firms should consider quality of the workforce when strategizing new entries. In domestic market, there is no difference in culture or no ambiguity of the workforces’ average skill level. On a legal perspective, tough labor laws and union pressures may hinder the firm’s efficiency and di fferent strategic human resource management will be needed to overcome this. However, that’s not the complete picture. For example, some countries have restrictions concerning remittance of funds and some necessitates the production to be carried out domestically. So, country analysis need to be carried out to take into account factors such as corruption, political stability and the extent of tax grants before developing international strategy. Compared to domestic market, all these factors are known. Host and home country’s foreign policy may affect the strategy such as government support for threatened business if it has important interdependencies for example Mittal’s acquisition of world steel market share forced European countries’ steel manufacturers to team up and create a single brand called Arcelor. This concept of (protectionism) protecting infant industries who are not strong enough for global competition is used frequently. For example, Sony and Mitsubishi’s entry into European market alerted respective governments of a possible industry takeover. So, these governments frustrated the Japanese firms by restricting offshore sourcing or worker layoffs or closing down manufacturing plants hindering their rational production and cost advantage. This helped European firms to close down the competition and cost advantage gap. However, the Japanese had a long-term strategy and they simply partnered with willing UK firms, thus entering and capturing the European market share. Their technique was low-risk, low-profile supplier strategy which assisted in their global brand dominance. Other strategies to influence governments include information and financial incentives. Information strategy refers to lobbying the key officials to obtain special treatment or lifting entry barriers. By international trade organizations such as WTO to negotiate with foreign governments, firms can achieve their strategy more effectively . Another method is to induce policy makers through direct pressure by giving incentives. This can be regarded as unethical but in some government, this is viewed as gift giving or necessary to accelerate procedure. For example, in China, guangxi is practiced openly which means fulfilling someone’s (politicians’) needs and working alongside them in order to achieve something in return. Guangxi is not considered bribery in China as it is common and understood in the business culture. As the statement has mentioned, currency exchange problems are present when transferring funds from domestic to international markets, especially when amount is large. It is plausible for only the two mentioned difference but under certain conditions. For example, a firm exporting steel products under license from home country without any localization of products to foreign market. Then, there can be only exchange rate uncertainty for revenue transfer and communication issues with the li censee. In this way, there is no control over assets such as human resource or capital but the exported product. But these simple assumptions will not apply if domestic scoped firms are challenged by foreign competitors. They will have to play by the rules of global competition to survive and that takes into account many factors as mentioned above. In my opinion, today’s global environment is very diverse and uncertain. Strategies need to be long-sighted and the firm’s own vulnerability should be realized and taken into consideration during decision making process. Firms should expand globally and realize more market share, profits and economies of scale. Therefore, currency and language difference alone cannot prepare firms if they want to expand to international markets from domestic market. Don’t waste time! Our writers will create an original "Strategic Planning Essay" essay for you Create order

Texas Government Essay - 983 Words

The government of the state of Texas is a difficult and complicated institution that is composed of many different levels. The question comes in to everyones mind at one time or another whether or not to trust the government. It could be that people believe that the officials will take advantage of their power, or simply people dont like the idea of being controlled by someone who is not a family member or friend. To avoid this centralized power, the government is divided into stages and this is a reasonable ground for trusting the government. Government runs this state and it does deserve to be trusted. Our government here in Texas has three major parts that play a significant part in our decision making process. These levels†¦show more content†¦If issues are brought about, or arguments are carried out, then the Conference Committees are there to resolve these differences. The most common Governmental figure in Texas is the Governor. This power is nothing more than that of a celebrity status. Although the Governor has the power to appoint independent boards and commissions, the senate has to confirm these appointments. This is called senatorial courtesy What is meant when this job is more like a celebrity is because of the Governor‘s ceremonial roles as acting as Chief of State. This increases the Governor‘s popularity and prestige, and broadens the image of the office. One important power or role that the Governor is responsible for is coordinating relations between Texas and other states. This can definitely be an important factor. For example, the need of federal aid during the time of an emergency can require the help of other states. The Governor also acts as the Chief Budget officer of the state. Even though the presiding officer presides over this office, the Governor does have some control. This is a very effective example of a good trustworthy system. 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Mary was Sam’s favoriteRead MoreFunding, Interest Groups, Elections, and the Role Between State and Local Governments in Texas1391 Words   |  6 PagesRunning Head: TEXAS GOVERNMENT Funding, Interest Groups, Elections, and the Role Between State and Local Governments in Texas Maurice Adams Mr. George Lyon POL215 University of Phoenix Funding, Interest Groups, Elections, and the Role Between State and Local Governments in Texas The state of Texas receives the majority of funding from two sources; taxes and federal receipts. â€Å"Currently, Texas is one of nine states that does not levy a personal income tax on its residents and, in additionRead MoreTexas : A Long History Of Conflict With The Federal Government1524 Words   |  7 PagesTexas has a long history of conflict with the federal government over laws and policies, particularly when dealing with environmental, social, and educational issues. Texas has conservative right-wing views and has been in conflict more often with the federal government since President Obama has been in office. The dilemma generally arises from a clash in opposing political and social views. One major issue that has arisen in over the course of the last two years has been a battle over funding forRead MoreTexas’ Individualistic and Traditionalistic Culture: The Impact these Ideologies have had on Texas State Government and the Reasons People Support t1019 Words à ‚  |  5 PagesTexas is a unique place with a colorful history of legendary cowboys and tall tales. The state stretches over the middle section of the southern United States. Texas has experienced shifts in governmental control within the United States. French, Spanish, Mexican, and Confederacy, and all having once been in charge, not to mention the time Texas spent as an independent republic. Texas has had many battles and wars within its borders, resulting in seven different constitutions within a span

Endangered Species of South Am Essay Example For Students

Endangered Species of South Am Essay Endangered Species of South Am Essayerica Endangered species are plant and animal species that are in danger of extinction, the dying off of all individuals of a species. Over 19,000 plant species and 5000 animal species around the globe are classified as endangered, and many thousands more become extinct each year before biologists can identify them (Microsoft 1). The primary cause of species extinction or endangerment are habitat destruction, commercial exploitation, damage caused by non-native plants and animals introduced into an area, and pollution (1). Of these causes, direct habitat destruction threatens the most species. A steady rate of extinction is a normal process in the course of evolution, and is called the background rate of extinction (Lampton 14). Species have slowly evolved and disappeared throughout geological time because of climate changes and the inability to adapt to survive competition and predation. Since the 1600s, however, the rate of extinction has accelerated rapidly because of human population growth and resource consumption (17). Today, most of the worlds habitats are changing faster than most species can adapt to such changes through evolution, or natural selection. The current global extinction rate is estimated at about 20,000 species per year, exponentially greater than the background extinction rate (17). Many biologists believe that we are in the middle of the greatest mass extinction episode since the disappearance of the dinosaurs 65 million years ago (18). The survival of ecosystems (plant and animal communities and their physical surroundings) such as forests, coral reefs, or wetlands depend on their biodiversity or variety of plants, animals, and habitats, as well as the many interactions among these species. The removal or disappearance of one or several species may irreversibly damage the ecosystems and lead to its decline. For example, the undersea kelp forest ecosystems of the northern Pacific Rim are some of the richest marine habitats known they are the home or breeding ground of many species and other wildlife, such as sea otters. When the sea otter population off the western coast of Canada and the U.S. was hunted almost to extinction in the 19th and early 20th centuries, invertebrates such as the sea urchins were left without a major predator. The population of sea urchins increased dramatically and rapidly consumed the kelp and other seaweed, turning the rich ecosystem into a barren undersea terrain (Grolier 41). Conservation efforts throughout the latter half of the 20th century, such as the U.S. Marine Mammal Protection Act (1972), allowed for the protection and reintroduction of the sea otter to these ecosystems and kelp forests once thrived again (41). The irreversible loss of biodiversity has a serious impact on the ability of remaining species, including humans, to survive. Humans depend on species diversity and healthy ecosystems to provide food, clean air and water, and fertile soil for agriculture. In addition, we benefit greatly from the many medicines and other products that biodiversity provides. As many as 40 percent of our modern pharmaceutical medicines are derived from plants and animals (Fast Facts about Endangered Species 1). A small plant from Madagascar, the rosy periwinkle, produces substances that are effective in fighting two deadly cancers, Hodgkins disease and Leukemia (Newman 135). Yet the forest habitat of the rosy periwinkle is rapidly disappearing to supply firewood and farmland for the impoverished people of Madagascar, and most of the endemic species there that is, species that live nowhere else are endangered. Species become endangered or extinct for a number of reasons, but the primary cause is the destruction of habitat by human activities. As species evolve, most adapt to a specific habitat or environment that best meets their survival needs. Without this habitat the species may not survive. .u5a9b0b0eab459fc9fb1558cddb59e77f , .u5a9b0b0eab459fc9fb1558cddb59e77f .postImageUrl , .u5a9b0b0eab459fc9fb1558cddb59e77f .centered-text-area { min-height: 80px; position: relative; } .u5a9b0b0eab459fc9fb1558cddb59e77f , .u5a9b0b0eab459fc9fb1558cddb59e77f:hover , .u5a9b0b0eab459fc9fb1558cddb59e77f:visited , .u5a9b0b0eab459fc9fb1558cddb59e77f:active { border:0!important; } .u5a9b0b0eab459fc9fb1558cddb59e77f .clearfix:after { content: ""; display: table; clear: both; } .u5a9b0b0eab459fc9fb1558cddb59e77f { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u5a9b0b0eab459fc9fb1558cddb59e77f:active , .u5a9b0b0eab459fc9fb1558cddb59e77f:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u5a9b0b0eab459fc9fb1558cddb59e77f .centered-text-area { width: 100%; position: relative ; } .u5a9b0b0eab459fc9fb1558cddb59e77f .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u5a9b0b0eab459fc9fb1558cddb59e77f .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u5a9b0b0eab459fc9fb1558cddb59e77f .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u5a9b0b0eab459fc9fb1558cddb59e77f:hover .ctaButton { background-color: #34495E!important; } .u5a9b0b0eab459fc9fb1558cddb59e77f .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u5a9b0b0eab459fc9fb1558cddb59e77f .u5a9b0b0eab459fc9fb1558cddb59e77f-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u5a9b0b0eab459fc9fb1558cddb59e77f:after { content: ""; display: block; clear: both; } READ: The Fall Of Communism In Russia Essay Pollution, drainage of wetlands, conversion of shrub lands to grazing lands, cutting and clearing of forests, urbanization, coral reef destruction, and road and dam construction have destroyed or seriously damaged available habitats (Microsoft 2). Habitat fragmentation has caused plant and animal species in the remaining islands of habitat to lose contact with other population of their own kind. This reduces their genetic diversity and makes them less adaptable to environmental or climate change (Lampton 21). Since the 1600s, worldwide commercial .

Mobile Applications Essays - Technology, Computing,

Mobile Applications CIS 207 Mobile Applications Mobile applications have changed the way the world functions. First it started with the IPhone, opening the market for mobile applications. Then Android broke though into the world, offering the developing options and root users. These options allow us to change the look and feel of our smart phones. In this paper we are going to talk about a few different mobile applications and how they changes how we communicate, how we balance our budget, and how we get though the world today. Communication though the years has changed. First there was the written letter. Then there was the telephone, no longer bound by time to talk to our closest friends. After years of talking though the wire we cut it. That became the first cell phone, big and clunky we became mobile. As the year passed mobile web and text messaging came to reality. This was the break though the world needed to move into mobile business. This allowed us to constantly stay in touch with family and coworkers. Yet again as time ticked away social media came into play not only were we able to stay connected with friends and family, we began creating new circles of friends. Sharing pictures with the world. This has changed the face of how we communicate in the new world. A budget is an important aspect of life now days and thanks of mobile web applications, we are able to track our spending better than ever. Starting with mobile banking we can see our transactions, pay our bills and even deposit checks. The there came mint.com. This extremely sophisticated app allows us to create budget, track our spending, and even give us suggestions on how to spend and invest. With these new applications we are becoming better spenders, and moving into a better brighter future. With the new technology today, we are moving around this world in a new way. We went from maps to car GPS, and now we have mobile navigation. We are no longer bound to finding places and people by car. The navigation on our smart phone now allows us to walk, bike, bus, and drive to the places we want to go. As well and now we can track friends and family movements. With a press of a button we can know where people are in an instant. Moving into a new age this allows us if we choose, to live a healthy life style. In the golden age of technology we are communicating without boundary's, with text messaging, and social media. We are saving and spending better with mobile banking, and budget planning with mint.com. As well moving better and staying fit with mobile navigation. With this age of technology, there are always new innovative technology coming out. Lets hope they are just as great as what has come out in the past 15 years.

Adventures Of Huck Finn By Twain Essays (921 words) -

Adventures Of Huck Finn By Twain The Adventures of Huckleberry Finn, the main character finds himself living in a society that does not suit him. Everywhere he looks there are people who value things that he sees as meaningless. Huck Finn feels trapped and begins his journey down the river in an effort to find someone or some place that will bring him happiness. Almost immediatly he finds this person in the form a run away slave. In this story, Huck and Jim are against the entire world, and every person they come in contact with has the potential to destroy their plans of happiness and freedom. Under these circumstances Huck is forced to tell many lies, but the only one he regrets is the one that he tells Jim. The biggest and most harmful lie Huck tells is when he fakes his own murder in his fathers shack. He goes through a great deal of trouble to make sure that people believe that he is dead, and it is not until the end of the novel that it becomes known to the people of his home town that he is actually alive. He had been a likable young boy, and people in the town had thought highly of him. This is evident from his relationship with adults like the widow and the judge. Jim even tells him Iuz powerful sorry yous killed, Huck, but I aint no mo, now. (1292) Based on Hucks consistent concern for others, it is likely that he would have written home to inform them that he was still alive if it had not been for his situation with Jim. However, he does not want to risk doing anything that might get Jim captured, so he writes no letter. Huck finds himself working against the world. He is not an immature boy that tells lies just for the sake of doing so, but rather he tells them in order to protect himself and also Jim. In the instance where he dresses up like a girl and speaks with the farmers wife in an effort to find out what is being said about their situation, the information that he gets ultimately saves them from the capture of a building search party. Even though he is caught in the first lie and it is discovered that he is actually a young boy rather than a girl, Huck manages to convince the woman that he simply a run away. He quickly creates a new lie and better lie, and she has no idea about his true identity. In this instance of lies that Huck tells there is no victim. Huck learns crucial information that he would have never gotten through honesty, and with this information he is able to continue on his journey with Jim. Another one of Huck's lies is one that he tells to the watchman on the on the steam ship. He knows that this man is the only person who can help the group of murders that were soon going to drown in the river. Under the circumstances, Huck could not tell the man the truth because he had stolen their boat to save Jims and his own life, Jim would have been danger of being captured, and most lily the watchman would have not bothered to go save a band of murders. Since the truth was not an option, Huck creates an elaborate story of women in distress, and reward money. After all is done, in reflection on his actions Huck says I was feeling ruther comfortable on accounts of taking all of the trouble for that gang, for not many would a done it.(1311) He clearly believes here that he has done a good thing in telling that lie. He knows that he saved these mens lives, and he would not have been able to do so with the truth. The one lie that Huck clearly regrets telling is the one that he tells to Jim. After their accidental separation, Huck returns to the raft and acts as though he hasnt been gone. Huck goes on to claim that Jim imaged the entire thing. In response to Jims delight in seeing Huck alive and well Huck says, What is the matter with you Jim? You been a drinking?(1316) Jim asks Huck to look him in the eye and say that he had not been gone anywhere, and Huck does as he asks. Jim soon realizes that Huck is not telling him the truth. Jim

King Egbert of Wessex

King Egbert of Wessex Egbert of Wessex was also known as: Egbert the Saxon; sometimes spelled Ecgberht or Ecgbryh. Has been called the first king of all England and the first king of all the English. Egbert of Wessex was noted for: Helping to make Wessex such a powerful kingdom that England was eventually unified around it. Because he was accepted as king in Essex, Kent, Surrey and Sussex and for a time also managed to conquer Mercia, he has been called the first king of all England. Occupations: KingMilitary Leader Places of Residence and Influence: EnglandEurope Important Dates: Born: c. 770Died: 839 About Egbert of Wessex: Probably born as early as 770 but possibly as late as 780, Egbert was the son of  Ealhmund (or Elmund), who, according to the Anglo-Saxon Chronicle, had been a king in Kent  in 784. Virtually nothing is known of his life up to 789, when he was driven into exile  by  the West Saxon king Beorhtric with the help of his formidable ally,  the Mercian king Offa. It is possible he may have spent  some time at the court of Charlemagne. A few years later, Egbert returned to Britain, where his subsequent activities for the next decade remain a mystery. In 802, he succeeded Beorhtric as king of Wessex and removed the kingdom from the Mercian confederation, establishing himself as an independent ruler. Once again, information is scant,  and scholars have no idea what actually took place over the next decade. In or about 813, Egbert spread devastation in Cornwall from east to west (according to the  Chronicle). Ten years later he embarked on a campaign against Mercia, and scored a victory but at a bloody price. His hold on Mercia was tentative, but his military endeavors secured the conquest of Kent,  Surrey, Sussex and Essex. In 825, Egbert defeated the Mercian king Beornwulf at the Battle of Ellendune. This victory altered the balance of power in England, raising the power of Wessex at the expense of Mercia. Four years later he would conquer Mercia, but in 830 he lost it to Wiglaf. Still, Egberts power base was unrivaled in England during his lifetime, and in 829 he was proclaimed Bretwalda, ruler of all Britain. More Egbert Resources: Egbert of Wessex in the Anglo-Saxon ChronicleEgbert of Wessex in the Anglo-Saxon Chronicle, page twoEgbert of Wessex on the Web   Egbert of Wessex in Print: The link below will take you to an online bookstore, where you can find more information about the book to help you get it from your local library. This is provided as a convenience to you; neither Melissa Snell nor About is responsible for any purchases you make through this link. The Warrior Kings of Saxon Englandby Ralph Whitlock Medieval Renaissance Monarchs of EnglandDark-Age BritainEarly Europe   Chronological Index Geographical Index Index by Profession, Achievement, or Role in Society The text of this document is copyright  ©2007-2016 Melissa Snell. You may download or print this document for personal or school use, as long as the URL below is included. Permission is   not  granted to reproduce this document on another website. For publication permission,  please   contact  Melissa Snell. The URL for this document is:http://historymedren.about.com/od/ewho/p/who_kingegbert.htm

Music 100 Essay Example | Topics and Well Written Essays - 1000 words

Music 100 - Essay Example The Seattle Symphony is an important part of the Pacific Northwest cultural scene and is acknowledged for its extraordinary performances, recordings, programming, and community engagement. With a dedicated subscriber base of more than 30,000 patrons, the band presents over 200 performances annually to an audience of more than 300,000 music lovers. The Seattle Symphony made its first performance on December 29, 1903 and still holds an important place in the world of symphonic music. The Orchestra is currently under the mentorship of Ludovic Marlot, one of the leading conductors of his generation. The band performs at Benarayo Hall, where people of all ages come to explore the world of symphonic music through classes, exhibits, and live music presentation. Symphony orchestra uses a number of instruments depending on how big the symphony is. Seattle Symphony used violin, viola, flute, harp, violin, trumpet, double bass, cello, marimba, Piccolo, Timpani, piano and trumpet. The instruments that Seattle Symphony uses to play melodies include xylophone and marimba. They soloist plays only the melody instruments in the first movement. Generally, all instruments in an orchestra can play harmony, excluding unturned percussions. The instruments that Seattle Symphony uses to play include violin, piano, and cello. Instruments used in rhythm section usually vary, but Seattle symphony used bass, piano, drums, xylophone, timpani, snare drum, chimes, and guitar. The aim of these instruments is to provide the backing for melodic instruments such as saxophone. The orchestra mainly played major keys but deviated on the Symphony in G minor, resulting in a dramatic, expressive piece. Symphony music is quite better than any other type of performance. The concert opened with the track â€Å"Concerto Fantasy,† which opens brashly. It has interplay between two timpanists against strings on the

How to make Good Decisions in Business or something like that Essay

How to make Good Decisions in Business or something like that - Essay Example The need to take action in time is testing the limits of the command-and-control model that has subjugated commercial and military leadership for generations. To maintain a bias for action and stay centered on the appropriate goals both realms are coalescing around and emerging leadership model that rebalances traditional attitudes toward two crucial decision factors: risk and control. (Garvin, 108-116) In the corporate world today, decision makers need to have a higher tolerance for, and comfort level with risk. Multi month task forces are the buggy whips of leadership. Today, failure to decide and act quickly can pre-empt options altogether. However, business decisions are frequently made on input information that are either biased or manipulated. Input bias is defined as the systematic misuse of input information in judgments of outcome quality. While researchers note that the quality of a decision is often "positively related" to the quantity of the inputs used to make that decision, the relationship between input quantity and output quality is not automatic. In many cases, inputs are misused, misrepresented or even negatively related to outcome quality. a) Poor Framing: This involves allowing a decision to be "framed" by the language or context in which it is presented. Often times, in making a decision, the whole system or situation surrounding the problem or opportunity needs to be carefully analyzed. (Andrew, 8) For example an opportunity that arose from a visit to ones village should not necessarily translate to the decision being centered only in that village. It may even be that the decision to provide a service in that village is transferred somewhere else since the success guarantee in higher in another location. b) Recent Effects: Making decisions based on recently seen information. It may also be known as availability bias. A careful analysis of that information may have eventually

In 2-3 pages, I want you to write about the misfit characters we have Essay

In 2-3 pages, I want you to write about the misfit characters we have encountered in _Bartleby the Scrivener_ story by(Herma - Essay Example The Misfits: An Analysis The story â€Å"The Lady with the Pet Dog† captivates two central characters and the story actually revolves round them. The story â€Å"The Lady with the Pet Dog† is an illicit or extra-marital love affair between Anna Sergeyevna and Dmitri Gurov who are both married and are in love with each other during their vacation at Yalta sea shore. Gurov seems quite misfit as a character as his attitude takes him beyond the normal parameters of the human conventions and behaviour. He thinks women as â€Å"inferior sex† but at the same time falls in love with women myriad times in his life even after having married and being a father of a twelve year old girl and two sons. His passion for Anna takes him to St. Petersburg and Anna’s refusal to continue any kind of extra-marital relation with him makes him desperate to the extent that he follows Anna and her husband into the theatre and speaks with her at the first interval when her husband g ets away for couple minutes. Despite Anna’s repeated refusal, Gurov at last succeeds in confiding from Anna the fact that she is in love with him too.

Impact of Globalization on the Environment

Impact of Globalization on the Environment Human race faces some desperate challenges to replenish for what has been done by our generation in the name of globalisations. The definition of our in this context is to eloquently emphasise that the outcome of globalisation today was the result of the comprehensiveness of all human race and our here refers to every living human being on this earth who contributes to both the positive and negative outcomes of globalisation. According to Pierik and Werner, the all-inclusiveness (2010, p. 2) applies to every living human being in general and the access to basic rights should also be equally available to every individual on this earth. For instance, right to clean air or clean water. In similar fashion, cosmopolitans argue that as citizens of the world, we should conjointly tackle both the positive and negative impacts of globalisation. As documented by Pogge in World Poverty and Human Rights, every human being has a global stature as the ultimate unit of moral concern (2002, p. 169). However, in the era of globalisation, this is not always the case. The environmental problems have become a pressing issue often relating it to the causal effect of globalisation contributed by the human activities. As stated by Mol in Globalization and Environmental Reform, the environmental repercussions are often related to the market demand and supply, or also widely known as Global Capitalism (2001, p. 71). Global capitalism is no foreign to the global consumptions and economic production which severely hampers the stability of the environment. So, this boils down to one question, what impacts does globalisation really has on the environment? To begin with, this essay will discuss about the implications of globalisation towards the general society. It also argues on the question of distribution equality of environmental risks and followed by the discussion on the ramification of global warming caused by the processes of globalisation. The second part then details on how globalisation has lead to the harmonisation of environmental practices among Transnational Corporations (TNCs) and the last part will then entail on the development of global environmental governance discourses. Is Globalisation eco-friendly? In respect to the effect of global capitalism, it has certainly induced or in a bold way of saying it, it has messed up the entire climate system and the environment respectively. Global warming is no longer a foreign term to most of us and this issue has been overly argued that the economic globalisation is partly behind this which has brought us to where we are now. In relation to the act of global capitalists, it boils down to one question, is there an equal distribution of risks relating to environmental threats across the globe and are the responsibilities on emitting Green House Gases (GHGs) being shared equally by every state in the world? As argued by Mol (2001 p. 79), it is hard to escape from the environmental threats in a highly-globalised era and it is merely impossible to do so. Another scholar like Gray suggests that developed countries conserve their environments by moving their productions to the developing world where environmental regulations on Multi-national corpo rations (MNCs) are more slack and thus, exporting their pollutions to the operating countries (Gray cited in Lofdahl, 2002, p. 9). Hence, making it one of the negative impacts of globalisation. In this case, the environmental risks are not being shared equally nor fair as the win for few are often a dispense for many others. As a cosmopolitan, being equally fair is the way to do it and in a perfect world, sharing environmental risks should be borne not only by states but also transnational actors across the globe and putting effort in conserving the environment in any possible means. This may sound superficial for some of us, but a cosmopolitan scholar like David Heater himself also share the same believe as he had documented in his book, World Citizenship: when possible, participate in schemes for positive conservation and cleansing; and the understanding that the most deleterious effects of environmental degradation can rarely be contained within boundaries of the state where the depleting or polluting processes originate (2002, p. 123). Having said that, to have an equal distribution of environmental risks among nation states and global actors in the real world is really difficult. The question on whether or not the risks are equitably distributed also depends on some bodies in the global governance, for instance, transnational actors like the MNCs or TNCs. There has been debates about transnational corporations for not acquiring feasible (sustainable) production methods and such practices has been widely lauded by most business people across the globe. These unsustainable practices have contributed harm towards the environment both in the operating countries and its neighbouring countries respectively. To top it all, these activities are being operated mostly in the developing nations. Why is that? Is developing nations a soft target for transnational corporations to conduct their unethical business operations? In answering this question, according to Daly and Cobb, one of the many reasons for the favour of operati ng in most developing countries is due to its weak local trading system and the laid-back regulations on transnational corporations. In this respect, the issue on trades and environmental problems could be explained in a wider context involving the WTO (World Trade Organisation) or formerly known as GATT (General Agreement on Tariffs and Trade). Technically, the formation of globalisation itself was partly moulded by the GATT or WTO in making the world a freer trading ground by opening the markets everywhere across the globe (Baylis et al, 2014, p. 346). According to liberal economists in respect to WTOs trade policies, they argued that the result form pollutions due to the trade could be treated as part of the production cost of producing the goods, and hence, supporting their claim that it could be favourable towards the environment as resources will be utilised in a more efficient manner (Baylis et al, 2014). However, one could contest that its equitability remains questionable. As a money-making organisation, this is often seen as a benefit to further grow their companies in seeking more profits out the production despite for its unsustainable practices in these countries (Daly and Cobb cited in Mol, 2001, p. 83). For instance, the tragic Bhopal incident on December 1984 was the result of unsustainable practices done by a Transnational Corporation. It killed more than fifteen thousand people and approximately more than two hundred fifty thousand people were injured due the pipes leakage mishap; releasing over forty thousand tons of toxic gases to Bhopals open air (Fortun, 2009). Bhopal was obviously a soft target for a multi-national corporation like the Union Carbide. Bhopal region were seen to be backward in terms of development, but due to its prominent location for easy transportation access, it made Bhopal to be an ideal location for the operation (Fortun, 2009). Put simply, Bhopal incident is just one of the examples of an unequitable distribution of environmental risks, not only to the population of Bhopal region, but the result from the mishap has an indirect effect in contributing to transboundary pollution and thereby ultimately, increasing the GHGs emission level on a global scale. In short, every emission made everywhere around the world will be in the expense of every living things on earth including, human, our future generations to be, and even biodiversity. Secondly, its responsibility for the environmental damages and severe climate change particularly on the increase of GHG emissions since the industrial revolution era. Environmental agencies like the Intergovernmental Panel on Climate Change (IPCC) believes that the cause for the environmental degradation or global warming is caused by the increasing amount of carbon dioxide (CO2) emissions from the result of the increasing number of human activity over the past decades (Huwart and Verdier, 2013, p. 112). Many argues that globalisation is partly responsible for the environmental issues that we are currently facing which is caused by the increase in industrial productions and surging amount of international trade deals due to massive global consumption. That said, several human-induced activities that contributes to the surging emission amount of CO2 are mainly from transportation, global capitalist activities (mainly on industrial activity and consumption) and deforestation. Accordin g to Huwart and Verdier (2013), transportation takes a big chunk of the CO2 emission level to the atmosphere. For instance, roughly about nine percent of the GHG emission is from the aviation sector and overall, approximately about eighty-six percent increase of GHG emission from the aviation sector from 1990 to 2004 (Huwart and Verdier, 2013, p. 113). Nonetheless, aviation industry is one of the most profitable industries now. According to International Civil Aviation organization (ICAO, 2016), the overall amount of CO2 emission for India aviation industry was roughly around 16.4 million tonnes as of 2014. On that note, between 2005 to 2007, the local airline companies have ordered about five hundred aeroplanes due to the rising number of passengers travelling locally and internationally (Huwart and Verdier, 2013, p. 113). Put simply, the dilemma between economic growth and pollution is never ending, it is an unprecedented loop. So long as there is consumption, we are inevitably bo unded to experience global warming. In relation to the issue on global warming, as Huwart and Verdier documented in Economic Globalisation, Globalisation is often an ally of the chainsaw (2013, p. 114). Huwart and Verdier (2013) argues that transportation is not just the only source of pollution, other human activities such as deforestation also contributes towards the gradual increase of GHG emissions over the past decades. This is none other due to the increase in consumption percentage globally and it pushes mass production of goods in order to cater the market demand. For example, as of 2003, soy exports by the Brazilians to China was approximately around six million tonnes. Deforestation of lands in some parts of Brazil has enabled them to produce more soy to cater China market. The rule is simple, more soy export, more rainforest is being turned into farmland (Huwart and Verdier, 2013). All of these activities has a chain effect which contributes to global warming. Besides, gl obal warming is one of the reasons for the increasing number in natural calamity such as increase in sea water level causing floods and also hurricanes. For instance, low-lying island states that only lies about three metres above sea level will be in jeopardy, countries such as, Tuvalu, Palau, Maldives and other low-lying states will be severely affected (Ashe, Lierop and Cherian, 1999). Considering that these small island states play a very little role in global pollution and this boils down to one question, could this also be a case of unequitable distribution of environmental risk? Looking at it in a different perspective, a realist or a sceptic would perceive it as an equal loss or gain. For instance, as pointed out by Ritzer (2010, p. 337), the North is more concerned on the issue of global warming, meanwhile the South is heavily encumbered with other pressing issues like HIV, famine and Malaria. So, is this a fair game? Mass migration is also often discussed in unearthing the several effects from the result of global warming. Its side effect within itself has caused several problems and it will be catastrophic to the human race in many years to come. In this respect, the rising sea level is one of the products of global warming. Scientifically, this is due to the rapid melting of ice sheets throughout the world which is caused by a rapid increase in temperature. For instance, it is expected that there will be a rise in sea level globally by twenty-three feet if the ice in Greenland were to be completely melted and another seventeen-foot rise on sea level if the ice in the Antarctica were to be ruptured in a similar manner. Hence, that make it up to forty feet increase in sea level in total. It goes without saying if this happens, it would be a massive calamity on a global scale and it could easily wipe out the entire low-lying states and the small island nations in a glimpse (Ritzer, 2010, p. 345). This is not a new phenomenon, temperature has been increasing and the rise in sea level is expected to be quicker than previously forecasted putting the small island and low-lying states in a most vulnerable position (Collins Rudolph cited in Ritzer, 2010). In many cases, natural disasters like floods, droughts or even storm could be a golden opportunity for businesses out there. As stated by Klein in This Changes Everything, natural disaster could open doors to business opportunities especially in the reformation of new houses and infrastructures like in New Jersey right after the superstorm sandy died down. Or, the surge in numbers of patent for genetically engineered seeds that withstands extreme weather conditions is also seen as business opportunity by big corporations like Monsanto and Syngenta (2015, p. 9). None of these are much of a surprise for us as this is rather a norm for most capitalists to act in such manner. That said, natural disasters are often seen as an opportu nity, making money out of ones agony. Referring to the earlier statement, could this also be the case for the small island nations if the entire land is no longer inhabitable? Charging each and every individual from these nations for a new place to stay when the sea level hits exactly at three feet above the ground? The idea behind this is that, charging would not solve any of these problems. The issues on global warming is very complex that it is interconnected with the well-being of the world society. For instance, looking at the small island nations and low-lying states circumstances, it is expected to be about 60 million people will become refugees if sea level were to rise above three feet (Ritzer, 2010, p. 347). The potential haphazard from the migration would be a nightmare for the world society and the likely effect from this would be an increase in crime rate, surging number in poverty, food scarcity and security issues as the world will become more borderless. Are we ready for this? Should this happen, this will become a world problem as catastrophe as such is irreversible. Hence, preventing or slowing down global warming would be the best solution to this. On the other side of this coin, thanks to globalisation for leading us to a world without border in a sense where creating awareness on global warming and other environmental issues are easier now than it was 50 years ago, despite for the damages that it has done over these years. Put simply, it is a way forward and it could be a way out for the citizens of the world. As stated by Mol in Globalization and environmental Reform: Globalization can trigger the harmonization of national environmental practices, regimes, and standards, produce new institutional arrangements at a supra-national level, transfer environmental technologies, management concepts, and organizational models, and accelerate the exchange of environmental information around the world (2001, p. 96). In a way, globalisation had already created a platform in addressing the issues on environment. That said, a collective effort is needed in order to achieve certain objectives on creating a sustainable environment and a greener economic growth. As argued by Mol (2001), globalisation has led to the harmonisation of environmental practices among the key drivers on the global market, i.e. transnational corporations. As one of the key drivers in the global scene, their position is quite prominent which enables them to influence the environmental improvements and promoting best practice to their consumers and as well as to their suppliers. Transnational corporations are seen to be as a strong actor in the global governance especially in the transmission of new technology and producing influential advertisements (Choucri, 1991). Choucri (1991) also stated that transnational corporations will be useful in shaping up new means of doing business and trades in the most sustainable way as possi ble. However, issues on environmental reformation is not a one man show, it is rather a collective initiative from other responsible parties as well. In light of this, Mol (2001) also argues that efforts on environmental harmonisation practices by transnational actors would not have been possible without the help of few driving factors like the International Standard Organisation (ISO), environmental Non-Governmental Organisations (NGOs), international regulatory bodies and even public pressure. These underlying has been a push factor for some, not all, TNCs everywhere around the globe. Some international standards were created cohesively with the harmonisation of environmental practices for manufacturing purposes, namely, the ISO 14000 series (Mol, 2001, p. 99). Having said that, this kind of initiatives help to reduce unsustainable manufacturing methods and act as one of the triggering tools towards a greener means of production across TNCs. But then again, having ISO alone will n ot secure the future of the environmental problems that we are currently facing because it acts as only a jumpstart for a greener way of manufacturing goods. On another level, globalisation could also somehow create a join force or formation of positive social movements especially in combating the environmental challenges that are contributed by TNCs across the region. Let us take the social movement of the Bhopal incident survivors as an example to help explain this particular point. After the Bhopal incident, many social movements were formed with regards to the unethical business practices by TNCs in the region. In this respect, the focus of these initiatives has also evolved overtime where issues on gender were also integrated in these social movements. Underpinning gender in this context, Suroopa Mukhrejee argued that the tragic Bhopal incident has put gender under the limelight where the social movements were formed and lead by the women survivors of the Bhopal incident (Mukre jee cited in Scandrett and Mukhrejee, 2011, p. 201). That said, Mukhrejee also argued that the core of the social movement was focused in addressing womens well-being which the outcome from the incident had caused several complications to womens health and body respectively. As stated by Scandrett and Mukhrejee, the experience of poison in the womens bodies in its disruption of menstrual cycles and gynaecological functions, abnormal births and dependent children, becomes reflected in the bodily practices of protest (2011, p. 202). Put simply, the result from the incident has somehow induced for such movement to happen allowing women to step forward and be empowered in fighting not only for womens right, but also environmental justice in their region and throughout the country. In view of this, I argue that the strive from these kind movements is not just beneficial for the present society, but also for the future generation to come which has the right to access clean air and clean environment. After all, living in a clean environment is part of human rights as well. However, scholars like Wilfred Beckerman and Joanna Pasek believes that the unborn future generations hold no rights and do not deserve to have anything out of it as they are not here to utilise these rights in present (Beckerman and Pasek cited in Pierek and warner, 2010, p. 32). On contrary, scholars like Simon Caney argued that the rights for the unborn generations will be jeopardised if such approach are not going to be taken into account now. If such right like the rights for the unborn generations were to be in placed now, the future generation would hold a full moral sentiment on duties to protect and not to harm the environment (Caney, 2011, p. 235) and hence, shaping up a better and highly morale future society. Therefore, the current generation should be obliged to not act in a way where it will threaten the rights of the future generations. In relation to the collective efforts as mentioned earlier, there are several initiatives that has been done over the recent years in addressing the environmental issues especially on mitigation of climate change. For example, the development of global environmental governance like the 1992 United Nations Framework Convention on Climate Change (UNFCCC), Kyoto Protocol in 1997, Copenhagen Accord or even the recent Paris Agreement. In general, these initiatives are recognised as an effort in spearheading the global economy towards a greener global business direction. Of course, having institutions or agencies as such does not necessarily bring about a complete success in tackling environmental issues, but rather, it could be a game changing process for the businesses especially the TNCs in modifying their production practices into a more sustainable method. For instance, the carbon tax could be a powerful tool in reducing the emissions on GHGs. Businesses will be taxed on a basis of th eir carbon emission usage from the utilisation of fossil fuels and the aim of this instrument is to motivate businesses to divert their production methods into a more sustainable one (Ritzer, 2010, p. 356). Having said that, instruments as such would be more effective if nations from all over the world participates, especially some major polluters like the US and China. Thus, participations are also seen as a collective effort in mitigating environmental issues. Several instruments like the carbon credit purchase and the Clean Development Mechanism (CDM) were also introduced in Kyoto Protocol which aims to reduce GHG emissions especially from the highly industrialised developed countries (Lechner, 2009, p. 257). For instance, the essence of the CDM encourages cooperation between developed and developing countries in a sense where a conducive sustainable development could be harnessed from utilising this instrument i.e. green technology transfer to developing countries. Of course, th e motivating factor for these developed countries to run CDM is to ensure that their emission target could be achieved by 2012 to 5 percent below 1990 level (Ma, 2010). The idea behind this is that, globalisation has lead us to a stage where issues on global warming are seen to be a severe world problem if its left untreated. Also, we have witnessed growing numbers of environmental agencies and regimes over the past years and it would not have not been possible without the essence of globalisation. A scholar like Lipshutz argues that the creation of a sustainable environment could be done because human has an ability to be innovative in resolving complex issues as such (Lipschutz cited in Lechner, 2009, p. 261). On another note, Lipschutz also argues that, we cannot grow or consume our way out of the crisis (Lipschutz cited in Lechner, 2009).ÂÂ   Referring to Lipschutz argument, it suggests, the world we are currently living in is worn out and the more we are trying extract mor e resources from the ecosystem, the more damages will be done to environment. For example, increasing sea level and catastrophic natural disasters as mentioned on the earlier paragraph. Therefore, it makes more sense for us to spearhead towards a greener and sustainable economy where changes in attitudes towards consumption is required, ultimately, improving the quality of the environment, social and also economic inequalities. Globalisation: is it good or bad for the environment? What can be concluded based on the arguments above is that, globalisation has certainly brought us to an era where the stability of environment is at stake. The results from globalisation has lead us to another level of environmental deterioration global warming. For a fact, the environmental risks are not being distributed equally across the globe due to the ever-rising levels of consumption which in turn, affecting the level of GHG emissions on a global scale and as well as climate stability. Regardless of its negative consequences, the nature of interconnectedness in globalisation could also be seen a vector in bringing down the environmental issues that world is currently facing. Globalisation has open doors for green politics through the development of global environmental governance with the involvement of other bodies like Non-Governmental Organisations (NGOs) and social movement groups which helps to elevate the awareness across the globe. As a cosmopolitan, I argue that every individual has a duty of engaging with activities that is sustainable and causing less harm to the environment. Not to completely neglect globalisation as it is inevitable, but rather, placing commitments on doing things in a most sustainable manner and citizens of the world should also associate themselves to environmental groups because the world of politics can be used as an agent of change. On this note, Derek Heater also argues that, encouraging appropriate activity can alter the horizons of what seems possible to leaders and to the mainstream public (Heater, 2002, p. 129). This process maybe slow, but I strongly argue that with a collective effort from the citizens of the world, the impossible can potentially be accomplished and further harnessed.

Anthropocentrism

Anthropocentrism is the position that human beings are the central or most significant species on the planet, or the assessment of reality through an exclusively human perspective. The term can be used interchangeably with humanocentrism, while the first concept can also be referred to as human supremacy. Anthropocentrism is a major concept in the field of environmental ethics and environmental philosophy, where it is often considered to be the root cause of problems created by human interaction with the environment; however, it is profoundly embedded in many modern human cultures and conscious acts.Anthropocentrism, also known as homocentricism, has been posited by some environmentalists, in such books as Confessions of an Eco-Warrior by Dave Foreman and Green Rage by Christopher Manes, as the underlying (if unstated) reason why humanity dominates and sees the need to â€Å"develop† most of the Earth. Anthropocentrism is believed by some to be the central problematic concept in environmental philosophy, where it is used to draw attention to a systematic bias in traditional Western attitudes to the non-human world. 3] Val Plumwood has argued[4][5] that anthropocentrism plays an analogous role in green theory to androcentrism in feminist theory and ethnocentrism in anti-racist theory. Plumwood calls human-centredness â€Å"anthrocentrism† to emphasise this parallel. One of the first extended philosophical essays addressing environmental ethics, John Passmore's Man's Responsibility for Nature has been criticised by defenders of deep ecology because of its anthropocentrism, often claimed to be constitutive of traditional Western moral thought.Defenders of anthropocentrist views point out that maintenance of a healthy, sustainable environment is necessary for human well-being as opposed for its own sake. The problem with a â€Å"shallow† viewpoint is not that it is human-centred but that according to William Grey: â€Å"What's wrong with shall ow views is not their concern about the well-being of humans, but that they do not really consider enough in what that well-being consists.According to this view, we need to develop an enriched, fortified anthropocentric notion of human interest to replace the dominant short-term, sectional and self-regarding conception. â€Å"In turn, Plumwood in Environmental Culture: The Ecological Crisis of Reason comprehensively debunked Grey's anthropocentrism as inadequate.

Industry Analysis: Soft Drinks Essay

Barbara Murray (2006c) explained the soft drink industry by stating, â€Å"For years the story in the nonalcoholic sector centered on the power struggle between†¦Coke and Pepsi. But as the pop fight has topped out, the industry’s giants have begun relying on new product flavors†¦and looking to noncarbonated beverages for growth. † In order to fully understand the soft drink industry, the following should be considered: the dominant economic factors, five competitive sources, industry trends, and the industry’s key factors. Based on the analyses of the industry, specific recommendations for competitors can then be created. Dominant Economic Factors Market size, growth rate and overall profitability are three economic indicators that can be used to evaluate the soft drink industry. The market size of this industry has been changing. Soft drink consumption has a market share of 46. 8% within the non-alcoholic drink industry, illustrated in Table 1. Datamonitor (2005) also found that the total market value of soft drinks reached $307. 2 billion in 2004 with a market value forecast of $367. 1 billion in 2009. Further, the 2004 soft drink volume was 325,367. 2 million liters (see Table 2). Clearly, the soft drink industry is lucrative with a potential for high profits, but there are several obstacles to overcome in order to capture the market share. The growth rate has been recently criticized due to the U. S. market saturation of soft drinks. Datamonitor (2005) stated, â€Å"Looking ahead, despite solid growth in consumption, the global soft drinks market is expected to slightly decelerate, reflecting stagnation of market prices. † The change is attributed to the other growing sectors of the non-alcoholic industry including tea and coffee (11. 8%) and bottled water (9. 3%). Sports drinks and energy drinks are also expected to increase in growth as competitors start adopting new product lines. 2 Profitability in the soft drink industry will remain rather solid, but market saturation especially in the U. S. has caused analysts to suspect a slight deceleration of growth in the industry (2005). Because of this, soft drink leaders are establishing themselves in alternative markets such as the snack, confections, bottled water, and sports drinks industries (Barbara Murray, 2006c). In order for soft drink companies to continue to grow and increase profits they will need to diversify their product offerings. The geographic scope of the competitive rivalry explains some of the economic features found in the soft drink industry. According to Barbara Murray (2006c), â€Å"The sector is dominated by three major players†¦Coca-Cola is king of the soft drink-empire and boasts a global market share of around 50%, followed by PepsiCo at about 21%, and Cadbury Schweppes at 7%. † Aside from these major players, smaller companies such as Cott Corporation and National Beverage Company make up the remaining market share. All five of these companies make a portion of their profits outside of the United States. Table 3 shows that the US does not hold the highest percentage of the global market share, therefore companies need to be able to compete globally in order to be successful. Table 4 indicates that Coca-Cola has a similar distribution of sales in Europe, North America, and Asia. On the other hand, the majority of PepsiCo’s profits come from the United States (see Table 5). Compared to PepsiCo, Cadbury Schweppes has a stronger global presence with their global mix (see Table 7). Smaller companies are also trying to establish a global presence. Cott Corporation is a good example as indicated in Table 8. The saturation of the US markets has increased the global expansion by soft drink leaders to increase their profits. The ease of entry and exit does not cause competitive pressure on the major soft drink companies. It would be very difficult for a new company to enter this industry because they 3 would not be able to compete with the established brand names, distribution channels, and high capital investment. Likewise, leaving this industry would be difficult with the significant loss of money from the fixed costs, binding contracts with distribution channels, and advertisements used to create the strong brand images. This industry is well established already, and it would be difficult for any company to enter or exit successfully. Three leading companies have prominent presence in the soft drink industry. The leaders include the Coca-Cola Company, PepsiCo, and Cadbury Schweppes. According to the Coca- Cola annual report (2004), it has the most soft drink sales with $22 billion. The Coca-Cola product line has several popular soft drinks including Coca-Cola, Diet Coke, Fanta, Barq’s, and Sprite, selling over 400 drink brands in about 200 nations (Murray 2006a). PepsiCo is the next top competitor with soft drink sales grossing $18 billion for the two beverage subsidiaries, PepsiCo Beverages North America and PepsiCo International (PepsiCo Inc. , 2004). PepsiCo’s soft drink product line includes Pepsi, Mountain Dew, and Slice which make up more than one- quarter of its sales. Cadbury Schweppes had soft drink sales of $6 billion with a product line consisting of soft drinks such as A&W Root Beer, Canada Dry, and Dr. Pepper (Cadbury Schweppes, 2004). Financial Analysis The carbonated beverage industry is a highly competitive global industry as illustrated in the financial statements. According to John Sicher of Beverage Digest (2005), Coca-Cola was the number one brand with around 4. 5 billion cases sold in 2004. Pepsi followed with 3. 2 billion cases, and Cadbury had 1. 5 billion cases sold. However, the market share shows a different picture. Coca-Cola and PepsiCo control the market share with Coca-Cola holding 43. 1% and Pepsi with 31. 7% (see Graph 1); however these market shares for both Coca-Cola and PepsiCo 4 have slightly decreased from 2003 to 2004. Coca-Cola’s volume has also decreased 1. 0% since 2003, whereas PepsiCo’s volume has increased 0. 4% (see Graph 1). Diet Coke posted a 5% growth, but Coca-Cola’s other top 10 brands declined (Sicher, 2005). Overall, Coca-Cola’s market position has declined in 2004. The strategic group map (see Graph 1) also shows the growth of Cott Corp. of 18% which is significantly higher than that of Coca-Cola and PepsiCo. The American Beverage Association (2006) states that in 2004, the retail sales for the entire soft-drink industry were $65. 9 billion. Barbara Murray (2006e) analyzed the industry averages for 2004 and average net profit margin was 11. 29%. The current ratio average was 1. 11 and the quick ratio average was 0. 8. These figures help analyze the financial statements of the major corporations in the industry. As shown in Table 13, Coca-Cola has seen their net profit margin increase from 20. 7% to 22. 1% from 2003 to 2004. According to Coca-Cola’s annual report (2004), 80% of their sales are from soft drinks; therefore the total sales amount was used for their financial analysis. These figures show that their profits are increasing, but at a slow rate. This is in line with what is happening in the soft drink industry. The market is highly competitive and growth has remained at a stable level. The slight increase in Coca-Cola’s profit margin is most likely from their new energy drink product line. This industry is currently expanding rapidly, and is allowing the major beverage companies to increase their profits. Table 13 also shows Coca-Cola’s working capital was around $1. 1 billion in 2004. This is a large increase from 2003 at only $500 million. This shows that they have sufficient funds to pursue new opportunities. However, their current ratio and quick ratio are a cause for concern. A current ratio of 2 or better is considered good and Coca-Cola’s was 1. 102. This number shows that they may not have enough funds to cover short term claims. The quick ratio for 2004 was at 5 0. 906 and is considered good when it is greater than 1. This illustrates that Coca-Cola may not have the ability to pay short term debt without selling inventory. These two numbers are a concern because they are not able to satisfy their short term obligations. The current and quick ratios are in line with the industry averages, however (Murray, 2006e), Coca-Cola needs to improve these ratios in order focus on long-term plans (Coca-Cola Company, 2004). PepsiCo’s financial statements cannot be analyzed for only the soft drinks industry because they do not distinguish between businesses. Over half their profits are from snacks or other beverage items; however there are sales and profit figures for their two beverage subsidiaries. These sales figures grew from almost $16. 5 billion in 2003 to $18 billion in 2004 (Pepsi Co. Inc. , 2004). Their operating profit margin also increased 1% from 2003 to 2004 as illustrated in Table 13. This shows that beverage profits are increasing for them, but also at a slow rate. The increase could be due to the increase in market share that the Pepsi products gained in 2004 (Sicher 2004). The PepsiCo. Annual Report (2004) stated that beverage volume increased 3% in 2004, but was driven by the high growth of the non-carbonated beverage industry. Cadbury’s current and quick ratios are very similar to those of Coca-Cola. The current ratio and quick ratio for Cadbury Schweppes for 2004 were both 0. 917 (see Table 13). Again, the current ratio should be 2 or more, and the quick ratio should be over 1. This illustrates that Cadbury also has difficulty paying short term debt and claims. Cadbury’s net profit margin has increased by 0. 7% from 2003 to 2004. This can be attributed to their market share growth in 2004 of 0. 2% (Sicher, 2005). One ratio that is concerning is their debt to equity ratio for 2004 in Table 13. They have almost two times as much debt as they do to equity, which means that their funds are mainly provided by creditors as opposed to owners. This is concerning because they 6 owe a lot of money, and must make a decent profit to be able to pay it off. The industry average for debt to equity is 81%, and Cadbury is far from that number (2006e). Also, Cadbury has a negative working capital for both 2003 and 2004, meaning they have more liabilities than assets. This shows that they do not have any funds to pursue new opportunities, as their current assets are being used to pay off liabilities (Cadbury, 2004). Overall, the financial statements of the three top competitors in the soft drink industry show that the industry is highly competitive and has little growth. Net profit margins increased for all three corporations, however only at a small rate. It also seems that all three companies lack sufficient current and quick ratios, but are all within a reasonable range of the industry average (2006e). This may be due to expanding their product lines to include energy drinks and non-carbonated beverages in order to increase profits and diversify their business. The soft drinks market is now in the matured stage of the life cycle. Growth in the industry has remained stagnant, and the financial statements of the major corporations in the industry illustrate that their sales and income are following this trend. The companies are in good financial positions; gross profits and net profit margins are continuing to increase each year. The leverage and activity ratios are all within reasonable range. However, one area all three corporations need to improve on is the liquidity ratios. Their quick and current ratios are low and need to be increased so they are able to meet short-term obligations. Five Competitive Forces for Coca-Cola Company The soft drink industry is very competitive for all corporations involved, with the greatest competition being that from rival sellers within the industry. All soft drink companies have to 7 think about the pressures; that from rival sellers within the industry, new entrants to the industry, substitute products, suppliers, and buyers. The competitive pressure from rival sellers is the greatest competition that Coca-Cola faces in the soft drink industry. Coca-Cola, Pepsi Co. , and Cadbury Schweppes are the largest competitors in this industry, and they are all globally established which creates a great amount of competition. Though Coca-Cola owns four of the top five soft drink brands (Coca-Cola, Diet Coke, Fanta, and Sprite), it had lower sales in 2005 than did PepsiCo (Murray, 2006c). However, Coca-Cola has higher sales in the global market than PepsiCo. In 2004, PepsiCo dominated North America with sales of $22 billion, whereas Coca-Cola only had about $6. 6 billion, with more of their sales coming from overseas, as shown in Table 4 and Table 5. PepsiCo is the main competitor for Coca-Cola and these two brands have been in a power struggle for years (Murray, 2006c). Brand name loyalty is another competitive pressure. The Brand Keys’ Customer Loyalty Leaders Survey (2004) shows the brands with the greatest customer loyalty in all industries. Diet Pepsi ranked 17th and Diet Coke ranked 36th as having the most loyal customers to their brands. Refer to List 15 for the brand loyalty rankings of the various competitors. The new competition between rival sellers is to create new varieties of soft drinks, such as vanilla and cherry, in order to keep increasing sales and enticing new customers (Murray, 2006c). New entrants are not a strong competitive pressure for the soft drink industry. Coca-Cola and Pepsi Co dominate the industry with their strong brand name and great distribution channels. In addition, the soft-drink industry is fully saturated and growth is small. This makes it very difficult for new, unknown entrants to start competing against the existing firms. Another barrier to entry is the high fixed costs for warehouses, trucks, and labor, and economies of scale. New 8 entrants cannot compete in price without economies of scale. These high capital requirements and market saturation make it extremely difficult for companies to enter the soft drink industry; therefore new entrants are not a strong competitive force (Murray, 2006c). Substitute products are those competitors that are not in the soft drink industry. Such substitutes for Coca-Cola products are bottled water, sports drinks, coffee, and tea. Bottled water and sports drinks are increasingly popular with the trend to be a more health conscious consumer. There are progressively more varieties in the water and sports drinks that appeal to different consumers’ tastes, but also appear healthier than soft drinks. In addition, coffee and tea are competitive substitutes because they provide caffeine. The consumers who purchase a lot of soft drinks may substitute coffee if they want to keep the caffeine and lose the sugar and carbonation. Specialty blend coffees are also becoming more popular with the increasing number of Starbucks stores that offer many different flavors to appeal to all consumer markets. It is also very cheap for consumers to switch to these substitutes making the threat of substitute products very strong (Datamonitor, 2005). Suppliers for the soft drink industry do not hold much competitive pressure. Suppliers to Coca-Cola are bottling equipment manufacturers and secondary packaging suppliers. Although Coca-Cola does not do any bottling, the company owns about 36% of Coca-Cola Enterprises which is the largest Coke bottler in the world (Murray, 2006a). Since Coca-Cola owns the majority of the bottler, that particular supplier does not hold much bargaining power. In terms of equipment manufacturers, the suppliers are generally providing the same products. The number of equipment suppliers is not in short supply, so it is fairly easy for a company to switch suppliers. This takes away much of suppliers’ bargaining power. 9. The buyers of the Coca-Cola and other soft drinks are mainly large grocers, discount stores, and restaurants. The soft drink companies distribute the beverages to these stores, for resale to the consumer. The bargaining power of the buyers is very evident and strong. Large grocers and discount stores buy large volumes of the soft drinks, allowing them to buy at lower prices. Restaurants have less bargaining power because they do not order a large volume. However, with the number of people are drinking less soft drinks, the bargaining power of buyers could start increasing due to decreasing buyer demand (Murray, 2006a). Porter’s Five Forces Model identifies the five forces of competition for any company. The recognition of the strength of these forces helps to see where Coca-Cola stands in the industry. Of the five forces, rivalry within the soft drink industry, especially from PepsiCo, is the greatest source of competition for Coca-Cola. Industry Changes The soft drink industry is affected by macroenvironmental factors of the industry that will lead to change. First, the entry/exit of major firms is a trend in the industry that will likely lead to change. More specifically, merger and consolidation has been prevalent in the soft drinks market, causing some firms to exit the industry and then re-enter themselves. Several leading companies have been looking to drive revenue growth and improve market share through the increased economies of scale found through mergers and acquisitions. One specific example is how PepsiCo acquired Quaker Oats, who bought Gatorade which will help expand PepsiCo’s energy drink sector (Datamonitor, 2005). This trend has increased competition as firms’ diversification of products is increasing. A second trend in the macroenvironment is globalization. With the growing use of the internet and other electronic technologies, global communication is rapidly increasing. This is 10 allowing firms to collaborate within the country market and expand into world markets. It has driven competition greatly as companies strive to be first-movers. Specifically, the global soft drink market’s compound annual growth rate (CAGR) is expected to expand to 3. 6% from 2004 to 2009 (Datamonitor, 2005). Third, changing societal concerns, attitudes, and lifestyles are important trends. In the United States and Europe, people are becoming more concerned with a healthy lifestyle. â€Å"Consumer awareness of health problems arising from obesity and inactive lifestyles represent a serious risk to the carbonated drinks sector† (Datamonitor, 2005, p. 15). The trend is causing the industry’s business environment to change, as firms are differentiating their products in order to increase sales in a stagnant market. Thus, the long-term industry growth rate, the fourth trend, shows low growth in recent years. Since 2000, the CAGR is 1. 5 per cent (Datamonitor, 2005). The low growth rates are of concern for soft drink companies, and several are creating new strategies to combat the low rates. This leads to the fifth trend of growing buyer preferences for differentiated products. Because soft drinks have been around since as early as 1798 (American Beverage Association, 2006), buyers want innovation with the products they buy. In today’s globalizing society, being plain is not good enough. According to Barbara Murray (2006c), â€Å"The key for all of these beverage companies is differentiation. The giants have new formulations and appearances. Whatever the strategy, be it a new color, flavor, or formula, companies will strive to create the greatest brand awareness in the minds of the consumer in the hopes of crowding out its competitors. † Thus, the last trend, product innovation, is necessary to combat buyers need for a variety of tastes. Firms are already differentiating by taste, with the Coca-Cola company as an example. The firm’s product line includes regular Coca-Cola, Diet Coke, Diet cherry Coke, 11 cherry Coke, Vanilla Coke, Coca-Cola with Lime, Coca-Cola with lemon and many more (Murray, 2006a). Key Success Factors. Key factors for competitive success within the soft drink industry branch from the trends of the macroenvironment. Primarily, constant product innovation is imperative. A company must be able to recognize consumer wants and needs, while maintaining the ability to adjust with the changing market. They must keep up with the changing trends (Murray, 2006c). Another key factor is the size of the organization, especially in terms of market share. Large distributors have the ability to negotiate with stadiums, universities and school systems, making them the exclusive supplier for a specified period of time. Additionally, they have the ability to commit to mass purchases that significantly lower their costs. They must implement effective distribution channels to remain competitive. Taste of the product is also a key factor for success. Furthermore, established brand loyalty is a large aspect of the soft drink industry. Many consumers of carbonated beverages are extremely dedicated to a particular product, and rarely purchase other varieties. This stresses the importance of developing and maintaining a superior brand image. Price, however, is also a key factor because consumers without a strong brand preference will select the product with the most competitive price. Finally, global expansion is a vital factor in the success of a company within the soft drink industry. The United States has reached relative market saturation, requiring movement into the global industry to maintain growth (Datamonitor, 2005). Recommendations 12 Looking towards the future, the most important recommendation to Coca-Cola is continuing product innovation and expansion of their product line. The soft-drinks industry is fully saturated with competitors. Also, the industry is no longer expanding, and market share is actually decreasing as more consumers are looking to healthier options. By continually introducing new products, Coca-Cola will be able to increase their profits and allow the company to continue to grow. Also, having a diverse product line will make the corporation very stable, which is appealing to investors and creditors. A second recommendation would be to sustain or increase the global market share. Coca-Cola is very well-established globally, and is the global soft-drinks leader. This is very important to sustain because it is the source of the majority of their profits. If they lose global market share, their profits will decline dramatically. A final recommendation for Coca-Cola is to maintain and try to increase their brand loyalty. Diet Coke has the second highest brand loyalty of all the soft-drink competitors’ brands, and solid advertising campaigns will help maintain the brand loyalty. They can also strive to obtain higher brand loyalty in all other brands, not solely Diet Coke. The brand loyalty is important because it will allow Coca-Cola to sustain profits and maintain their market share. 13 Appendix Table 1: Datamonitor (2005, May). Global Soft Drinks: Industry Profile.New York. Reference Code: 0199-0802. Table 2: Datamonitor (2005, May). Global Soft Drinks: Industry Profile. New York. Reference Code: 0199-0802. 14 Table 3: Datamonitor (2005, May). Global Soft Drinks: Industry Profile. New York. Reference Code: 0199-0802. Table: 4 Murray, Barbara. (2006a). The Coca-Cola Company. Hoovers. Retrieved February 13, 2006, from http://premium. hoovers. com/subscribe/co/factsheet. x html? ID=10359 Coca-Cola 2004 Sales $ mil. % of total Europe/Eurasia/Middle East 7,195 33 North America 6,643 30 Asia 4,691 21 Latin America 2,123 10 Africa 1,067 5 Corporate 243 1 Total 21,962 100 Table 5: Murray, Barbara. (2006b). Pepsi Co. Hoovers. Retrieved February 13, 2006, From http://premium. hoovers. com/subscribe/co/profile. xhtml? ID=11166 Pepsi Co. 2004 Sales $ mil. % of total US 18,329 63 Mexico 2,724 9 UK 1,692 6 Canada 1,309 4 Other countries 5,207 18 Total 29,261 100 15 Table 6: Murray, Barbara. (2006b). Pepsi Co. Hoovers. Retrieved February 13, 2006, From http://premium. hoovers. com/subscribe/co/profile. xhtml? ID=11166 Pepsi Co. 2004 Sales $ mil. % of total PepsiCo International 9,862 34 Frito-Lay North America 9,560 33 PepsiCo Beverages North America 8,313 28 Quaker Foods North America 1,526 5. Total 29,261 100 Table 7: Murray, Barbara. (2006d). Cadbury Schweepes Inc. Hoovers. Retrieved February 13, 2006, from http://premium. hoovers. com/subscribe/co/profile. x html? ID=41767 Cadbury Schweppes 2004 Sales % of total Americas Beverages 33 Europe, Middle East, Africa 25 Americas Confectionery 16 Asia/Pacific 16 Europe Beverages 10 Total 100 Table 8: Walker, Tim (2006). Cott Corporation. Hoovers. Retrieved February 13, 2006, from http://premium. hoovers. com/subscribe/co/profile. xhtml? ID=42846 Cott Corporation 2004 Sales $ mil. % of total US 1,221. 8 74 Canada 189. 5 12 UK & Europe 186. 9 11. International 48. 1 3 Total 1,646. 3 100 Table 9: Select Financial Data from 2004 Income Statements. 2004 Annual Reports. (in millions) *only 50% of total sales included, the part attributed to beverage sales 16 Table 10: Select Financial Data from 2003 Income Statements. 2004 Annual Reports. (in millions) *only 50% of total sales included, the part attributed to beverage sales Table 11: Select Financial Data from 2004 Balance Sheets. 2004 Annual Reports. (in millions) *only 50% of total sales included, the part attributed to beverage sales 17 Table 12: Select Financial Data from 2003 Balance Sheets. 2004 Annual Reports. (in millions) *only 50% of total sales included, the part attributed to beverage sales 18 Table 13: Financial Analysis. Annual Reports. 19 Strategic Group Map goes here! 20 List 1: Brand Keys’ Customer Loyalty Leaders survey (2004) Brandweek. com Brand Loyalty Rankings This year/Brand/Last Year 1. Google. com (2) 2. Avis (1) 3. Verizon Long Distance (4) 4. KeySpan Energy (9) 5. Samsung Mobile Phone (7) 6. Hyatt Hotels (19) 7. Sprint Long Distance (3) 8. Canon Office Copier (8) 9. Yahoo. com (14) 10. Miller Genuine Draft (5) 11. Ritz-Carlton Hotels (17) 12. PSE&G (15) 13. Amazon. com (12) 14. Marriott Hotels (13) 15. Swissotel (NR) 16. Discover Card (27) 17. Diet Pepsi (31) 18. Budweiser (16) 19. Motorola Mobile Phone (10) 20. Coors (NR) 21. Netscape. com (59) 22. Sony Ericsson Mobile Phone (93) 23. Capital One Credit Card (29) 24. L. L. Bean Catalogue (20) 25. Wal-Mart (33) 26. Skechers (NR) 27. New Balance Athletic Shoe (22) 28. Miller Lite (87) 29. Starbucks (6) 30. Radisson (48) 31. BP Gasoline (79) 32. Inter-Continental Hotels (NR) 33. Sears Catalogue (30) 34. Verizon Wireless (37) 35. Schwab. com (26) 36. Diet Coke (47) 37. Mobil Gasoline (25) 38. T-Mobile Wireless (76) 39. Bell South Long Distance (28) 40. Adidas Athletic Shoe (23) 41. ETrade. com (42) 42. J. Crew Catalogue (54) 43. FedEx (50) 44. Westin Hotels (73) 45. Excite. com (35) 46. Hilton Hotels (36) 47. HotBot. com (34) 48. Sanyo Mobile Phone (NR) 49. MSN. com (38) 50. AltaVista. com (51) 21 51. AT&T Long Distance (24) 52. Spring PCS Wireless (60) 53. Pepsi (61) 54. Target (62) 55. Jet Blue Airways (67) 56. Bud Light (32) 57. Sears Store (40) 58. Sheraton Hotels (46) 59. Land’s End Catalogue (55) 60. Hampton Inn Hotels (NR) 61. Nokia Mobile Phone (11) 62. MCI Long Distance (83) 63. Holiday Inn Hotels (NR) 64. Ameritrade. com (104) 65. Best Western Hotels (NR) 66. Lycos. com (39) 67. Wyndham Hotels (68) 68. Xerox Office Copier (82) 69. Today (NBC) (56) 70. NFL (70) 71. MLB (58) 72. AOL. com (88) 73. Fox & Friends (Fox News Channel) (NR) 74. Southwest Airlines (64) 75. Exxon Gasoline (43) 76. DHL/Airborne Express (45) 77. BarnesandNoble. com (152) 78. AskJeeves. com (113) 79. Embassy Suites (86) 80. Nextel Mobile Phone (148) 81. SBC Long Distance (21) 82. TDWaterhouse. com (49) 83. Apple Computers (66) 84. Budget Rent A Car (71) 85. Subway (91) 86. Coors Light (81) 87. Texaco Gasoline (18) 88. Poland Spring (NR) 89. Chevron Gasoline (44) 90. J. C. Penney (75) 91. Expedia. com (85) 92. Fidelity. com (65) 93. Qwest Long Distance (41) 94. Visa Card (100) 95. UPS (127) 96. Aquafina (NR) 97. Gateway Computers (53) 98. Hertz (84) 99. Amstel Light (97) 100. Amoco Gasoline (101) 101. Nike (94) 102. Ramada Hotels (NR) 103. T. Rowe Price Mutual Fund (74) 104. Cingular Wireless (107) 105. Con Edison (57) 106. Enterprise Rent-A-Car (90) 22 107. Nextel Wireless (134) 108. Delta Air Lines (72) 109. American Morning (CNN) (63) 110. Arrowhead (NR) 111. Dell Computers (69) 112. Fleet Bank (157) 113. NBA (98) 114. New York Life Insurance (139). 115. Pizza Hut (105) 116. National Discount Brokers (102) 117. MerrillLynch. com (95) 118. NEC (NR) 119. Panasonic Mobile Phone (124) 120. Fidelity (96) 121. Dasani (NR) 122. Papa John’s (118) 123. CDNow. com (153) 124. Datek. com (77) 125. Siemens Mobile Phone (52) 126. IBM Computers (110) 127. Best Buy (154) 128. Reebok Fitness Shoes (103) 129. Sunoco Gasoline (121) 130. Wendy’s (115) 131. Wachovia Bank (89) 132. Good Morning America (ABC) (120) 133. Buy. com (142) 134. Corona (132) 135. CheapTickets. com (NR) 136. HP Computers (92) 137. PNC Bank (NR) 138. Shell Gasoline (119) 139. Dunkin’ Donuts (109). 140. Coca-Cola (129) 141. Citibank (112) 142. Early Show (CBS) (151) 143. AT&T Wireless (99) 144. Travelocity. com (138) 145. Bank of New York (158) 146. Bank of America (NR) 147. Continental Airlines (114) 148. CSFB. com (125) 149. Toshiba Computers (NR) 150. JP Morgan Chase Bank (106) 151. Krispy Kreme Doughnuts (117) 152. American Express Credit Card (135) 153. Deer Park (NR) 154. Sony Vaio (111) 155. Fodors. com (128) 156. Domino’s Pizza (122) 157. Compaq Computers (80) 158. KFC (116) 159. Little Caesars (140) 160. Putnam (126) 161. Burger King (136) 162. Vanguard Mutual Fund (78) 23 163. United Air Lines (137) 164. Evian (NR) 165. Heineken (155) 166. Minolta Office Copier (159) 167. Travelers Insurance (144) 168. McDonald’s (141) 169. National Car Rental (145) 170. Sharp Office Copier (169) 171. Hotels. com (147) 172. Janus Mutual Fund (123) 173. Ricoh Office Copier (164) 174. Godfather’s (130) 175. Roundtable Pizza (131) 176. MetLife Insurance (162) 177. First USA (NR) 178. Fila (172) 179. Arby’s (161) 180. American Airlines (143) 181. USPS Parcel Delivery (156) 182. Prudential Insurance (163) 183. Dollar Rent A Car (167) 184. Bank One (NR) 185. Hardee’s (165) 186. Mountain Dew (168) 187. PriceLine. com (160) 188. Chuck E. Cheese Pizza (146) 189. MasterCard (150) 190. US Airways (166) 191. Aetna Insurance (174) 192. 7 Up (170) 193. Dr Pepper (176) 194. Alamo Rent-a-Car (178) 195. Jack in the Box Restaurant (171) 196. Taco Bell (173) 197. The Hartford Insurance (175) 198. Beck’s (179) 199. White Castle (177) 200. NHL (180) 201. Diet 7 Up (108) 202. Kmart (182) 203. Diet Dr Pepper (133) 24 Works Cited American Beverage Association (2005). Soft Drink Facts. Retrieved February 21, 2006 from http://www. ameribev. org/variety/facts. asp Cadbury Schweppes. (2004). 2004 Annual Report. Retrieved February 17, 2006 from http://www. cadburyschweppes. com Datamonitor. (2005, May). Global Soft Drinks: Industry Profile. New York. Reference Code: 0199-0802. Hein, Kenneth. (2004). Brand Loyalty 2004. Retrieved February 12, 2006 from http://www. brandkeys. com/news/press/102504Brandweek. Loyalty. pdf Murray, Barbara. (2006a). The Coca-Cola Company. Hoovers. Retrieved February 13, 2006, from http://premium. hoovers. com/subscribe/co/factsheet. xhtml? ID=10359 Murray, Barbara. (2006b). Pepsi Co. Hoovers. Retrieved February 13, 2006, from http://premium. hoovers. com/subscribe/co/profile. xhtml? ID=11166 Murray, Barbara. (2006c). Carbonated Beverages. Hoovers. Retrieved February 13, 2006, from http://premium. hoovers. com/subscribe/ind/overview. xhtml? HICID=1049 Murray, Barbara. (2006d). Cadbury Schweppes Inc. Hoovers. Retrieved February 13, 2006, from http://premium. hoovers. com/subscribe/co/profile. x html? ID=41767 Murray, Barbara. (2006e). Comparison Data. Hoovers. Retrieved February 13, 2006, from http://premium. hoovers. com/subscribe/co/fin/comparison. xhtml? ID=10359 PepsiCo Inc. (2004). 2004 Annual Report. Retrieved February 17, 2006 from http://www. pepsico. com Sicher, J. D. (2005). Beverage.