Pillsbury Cookie Challenge

| GLOBAL MARKETING-2| | | PILLSBURY COOKIE CHALLENGE| | GROUP-12, Roll No-2210,2240,2249| 10/20/2011| | What consumers should the team target? Pillsbury should target Scratch Users segment which is 61% as compared to 49% in US. They have almost 24% as refrigerated users, when we go through the qualitative research which suggests the following: * Product should be easy, quick, practical, affordable and pleasing to children. * The Baking experience was important. * Feel of sharing and giving. * Lapsed users were less secure to use convenience products which take them away from scratch baking. No issues with nutritional value * Using Pillsbury product was still far better than buying readymade product, because it involved the effort and therefore represented an act of generosity. From above we can conclude that if Pillsbury can increase customer value perception in the scratch segment, they can increase the market share. Since the main concern of scratch users are baking experience and to certain extend the quality of product, if tackled could lead to increased market share. What should their brand messaging be? Brand messaging should be targeted to increase the customer value perception, target scratch customers, especially to mothers and kids who play an important part in Canadian family, as suggested by qualitative research. * Scratch taste equals to Pillsbury Cookie Dough Pillsbury Refrigerated Cookies, leave the mess part to us, readymade dough, get yourself creative with cookies, have fun with kids and will taste like home made cookies. How could they communicate this message in a relevant way to the consumers in a way that would translate into increased sales? This can be done by various means as stated below: * Target Segment Market Campaign * By TV ad campaign aiming the target audience – Scratch Users * Targeting mothers and kids * Packaging * By changing the packaging to suite the target market specially to kids and mothers. * Having Influential messages on the pack, to influence scratch users on the quality and nutritional value of the product. * By having recipes which can be used with refrigerated dough cookies, like a value added, which will increase effort and experience of baking using readymade dough. Product Placement * Placement of the product at eye level (premium space), research shows cookie dough buying is impulsive, this will increase greater exposure to scratch users, more noticeable and accessible for impulse buying. * Rewards Programme * From the reason it’s seen that kids play a larger role as purchase driver in Canada than US, create rewards programme for kids, which will increase brand loyalty, awarene ss and attract the users/customers with kids. * Influence on kids will eventually lead to sales increase. ***********************************************

Quantitative Applications in Management

NTITATIVE MGNT QUANTITATIVE APPLICATIONS IN MANAGEMENT Course Code: MIB 105Credit Units: 03 Course Objective: The objective of this course is to develop the understanding of the various statistical models, used for decisions making in the functions of the management of any organization with respect to International Business. To equip the students with tools and techniques for application of concepts to real life problems for efficient managerial decision making. Learning Outcomes: At the end of the course students will be able to: Use statistical techniques to collect and analyse data Produce forecasts using statistical packages Apply quantitative techniques to business situations. Course Contents: Module I: Introduction Quantitative Decision Making – an overview, Collection , Classification & Presentation of Data, Measures of Central Tendency – Mean, Median, Mode, Geometric Mean & Harmonic Mean, Measures of Dispersion – Range, Quartile Deviation, Average Deviation & Standard Deviation. Module 2 : Probability , Probability Distributions & Decision theory Basic Concepts of Probability Discrete Probability Distribution Continuous Probability Distributions Decision Theory : introduction to decision making & decision environments Module 3 Sampling , Sampling Distributions & Testing of Hypothesis Sampling Fundamentals Different Methods of sampling Sampling Distributions Testing of Hypotheses: Hypothesis testing for means & proportions Module 4 Forecasting Techniques & Time Series Analysis Business Forecasting Correlation Regression analysis & its Applications for managers Various components of time series & their analysis Use of statistical packages such as MS Excel /SPSS for forecasting & analysis Module 5: Linear Programming Introduction of Operations Research, Scope and Models in Operations Research, Introduction of Linear Programming, Formulation of LPP & its applications to managers. Learning Methods: A series of lectures will impart information and be complemented by interactive tutor-led and student-led discussion. Teaching consists of 3 hours per week. The unit has thus been designed to use a variety of teaching methods that should help students to quantitatively study the various aspects of international business environment. Formative tasks and presentations will enable students to build towards the completion of their assignment during the delivery of the unit. Examination Scheme: Components |C1 |V |A |CT |EE | |Weightage (%) |10 |5 |5 |10 |70 | Text & References: Text: †¢ Rao AB, 2004, Quantitative Techniques in Business, Jaico Publishing House, Ist Edition References: †¢ Arora P. N. , Arora Sumeet, Arora S. , 2008, Comperihensive Statistical Methods, 2nd Edition, S. Chand †¢ Edward E. Qian, Ronald H. Hua, And Eric H. Sorensen, Quantitative Equity Portfolio Management: Modern Techniques and Applications Chapman & Hall/Crc Financial Mathematics Series, 2007 †¢ Levin R. I. & Rubin S. R. 2002, Statistics for Management, 9th Ed. Prentice Hall of India †¢ Gupta S P & Gupta M P, 2000, Business Statistics, 12th Ed. Sultan Chand & Sons †¢ Sharma J K, 1997, Operations Research: Theory & Application, Mac Millan India. Ltd. †¢ Hooda, R P,(2003),Statistics for business and economics,3rd,Macmillan Publication, New Delhi †¢ Richard C. Grinold And Ronald N. Kahn, Active Portfolio Management: Quantitative Theory and Applications, 1995

Ideology Essay Example | Topics and Well Written Essays - 1250 words

Ideology - Essay Example The French philosopher Destutts de Tracy used the term to designate an epistemological position with respect to the origins of ideas. 2. Napoleon Bonaparte then used "ideologist" to designate fuzzy-minded revolutionary intellectuals, especially those associated with Destutts de Tracy. 3. Karl Marx used ideology to designate philosophical positions that claimed to be statements of natural law (e.g. political economy), but which when unmasked could be seen to be "really" deceptive defenses of capitalism. 4. Terry Eagleton in his book ‘Ideology an /introduction’, described ideology in the following manner: the process of production of meaning, signs & value in social life; a body of ideas characteristic of a particular social group or class; ideas/ false ideas which help to legitimate a dominant political power; systematically distorted communication; that which offers a position of a subject; forms of thought motivated by social interests and identity thinking; socially ne cessary illusion; the conjuncture of discourse and power; the medium in which conscious social actors make scenes of the world; action-oriented sets of beliefs; the confusion of linguistic and phenomenal reality; semiotic closure; the indispensable medium in which individuals live out their relations to a social structure.; The process whereby social life is converted to a natural reality. There are three aspects to the definition of ideology. First, ideology is a set of ideas; it isn’t a person, an act, or a type of society. A person can believe in an ideology, an act can be motivated by an ideology, and a society can be prearranged in reference to an ideology, yet they themselves are not ideologies. Second, ideology is a set of ideas that tries â€Å"justifying† by providing an incorrect reason for inequality. Third, ideology is a set of ideas that tries â€Å"justifying† an unequal social, economic, or political system. Not all types of inequities are justifi ed by the ideas in an ideology, only those describing certain kinds of social arrangements, economic or political systems. Ideologies are also understood in three different kinds of languages: religious, philosophical and scientific. This makes them seem as if they are real and rational. It’s easier to picture an ideology from the past than one from the present. It is easy to see how the godly status of the pharaoh in ancient Egypt served an ideological objective. Yet which are the ideologies that exist today, and what kind of language would they use as reasoning for inequality and the control of society today? An example of a current dominant ideology is the beliefs that if you can afford to buy say, a luxurious yacht / personal helicopter, and then you should be free to spend that money any way you choose. But, of course, some people might rightly believe that there are many people in society who work very hard indeed and yet would never be able to afford such a luxury as a yacht / personal helicopter. They might say that the wealth generated within society should be more fairly shared between the so-called 'haves' and the 'have nots'. They might worry too that the power that can be wielded by someone who is wealthy enough to own a yacht is far in excess of the power that could be wielded by a poor person Any set of ideas dominating our culture or society represents ideology. For example different religions that are practiced in our world like Islam, Catholicism, Liberalism, and Marxism are different ideologies as each has a different way of thinking and living. Similarly, there are different family structures that we see around, like

Executive Summary Essay Example | Topics and Well Written Essays - 500 words - 8

Executive Summary - Essay Example Annual reports are the basis on how stockholders and others view the performance of an organization, influencing their decision to retain the stocks or not. The annual report consists of a financial section and a possible narrative section. The financial section remains accurate, because of the attention paid to it by the auditors. The decision to have a narrative section and what it contains is decided by the organization, which is influenced by their financial position. Graphs in the narrative section play an important part in the comprehension of the narrative section. Yet, the graphic designer through selection of graph type, color, scale, and emphasis, and the like, can manipulate the perception of the reader of the narrative section. The distortion of graphs in narrative section is clearly established through several studies. For example, the Canadian Institute of Chartered Accountants in 1993 reports fifteen different ways in which distortion in graphs can occur. Evaluation of financial graphics and the actual financial data in annual reports confirm the use of such graphic distortion. Results of the literature review demonstrate that there is manipulation in selection and preparation of graphic representation that have implications for accountancy-related issues, international opinions, and the communications intended through the annual reports. However, a key question that remains unanswered is whether company size has any role to play in the manipulation of graphical representation in annual reports (Penrose, 2008). This article presents the problem of the requirement for writing skills in accounting firms. Many of the bright university students choose to work in accounting firms. In this era of globalization, writing skills in accounting firms have gained in importance, raising the questions as to the specific requirements of writing skills in accounting firms, whether these needs

Death with Dignity Essay Example | Topics and Well Written Essays - 1250 words

Death with Dignity - Essay Example Her decision faced immense opposition from different sects of the society. Indeed, despite its aim to alleviate patient suffering, doctor assisted suicide goes against moral and ethical principles and should therefore not be allowed. Oregon was the first to implement the Death with Dignity Act in 1997. It allows terminally ill patients who are of competent mental mindset and aged over 18 to obtain lethal medication to end their lives (Yuill 61). Such patients would be required to make a written request and two oral ones in a span of 15 days. The prescribing physician should concur with the prognosis or diagnosis that supports death with dignity, and in consultation with another physician agree to offer assisted suicide. Over time, more states have embraced this legislation as a way out for patients with lingering and intolerable pain. Just a few countries in Europe have legalized death with dignity, notably, the Netherlands, Luxembourg, Switzerland and Belgium (Zakaria). Some other parts of the world, including the Ancient Greece and Rome, have been practicing doctor assisted suicide for generations (Loomis 146). However, the issue continues to elicit heated debate from different quarters on its morality and eth icality. Allowing for physician assisted suicide would lead to an inclusion of more people into the eligible groups. According to Yuill, allowing for assisted suicide would mount pressure upon people feeling that they have become a burden to their families and even healthcare providers to include more categories of people in the death with dignity category (32). This could go forth and even become euthanasia or further to involuntary euthanasia. Thus, allowing for death with dignity presents grounds for abuse of the practice, specifically when driven by greed as opposed to love. Those who should inherit from the patient could encourage premature death of

The Concept of Risk Essay Example | Topics and Well Written Essays - 2000 words

The Concept of Risk - Essay Example The occurrence of an undesirable event is known as risks and risk management is a subject of great importance in project management. The risks which occur in project management is objectified and often occurs in the form of monetary loss and there is always an uncertainty associated with the occurrence of risk, however, the results of a risk are always undesirable for the people and organizations involved in the project. Project Risk Management has become a very important field of study in recent years because the project costs are very high these years and substantial capital is involved in the execution of the projects. Moreover, monetary loss is not the only issue, the time constraint has become much more important in the current economic and political scenario and the uncertainties in the execution of the project can delay the completion of the projects. These delays can result in fines and heavy penalties and can also affect the execution of other associated projects, therefore it is imperative to analyze and manage risk properly. Some authors also include the risk of life in risk assessment associated with a project, however, in this essay, it will not be discussed as a risk in project management because it is more relevant to health and safety issues. Thus there is a general consensus among the authors regarding the definition and concept of risk in project management. A risk is always an uncertainty in the execution of the project with a little probability of occurrence.... has become a very important field of study in recent years because the project costs are very high these years and substantial capital is involved in the execution of the projects. Moreover monetary loss is not the only issue, the time constraint has become much more important in the current economic and political scenario and the uncertainties in the execution of the project can delay the completion of the projects. These delays can result in fines and heavy pnealties and can also affect the execution of other associated projects, therefore it is imperative to analyse and manage risk properly. Some authors also include the risk of life in risk assessment associated with a project, however in this essay it will not be discussed as risk in project management because it is more relevant to health and safety issues (Jeynes, 2002). Thus there is a general consensus among the authors regarding the definition and concept of risk in project management. A risk is always an uncertainty in the execution of the project with a little probability of occurrence, however if occurs it always has undesirable result. Risk Management is always carried out in five steps: 1. Identification 2. Analysis 3. Resolution 4. Implementation 5. Monitoring Risk in PRINCE2 PRINCE2 is a process driven project management method and thus the management of a project as per PRINCE2 is carried out in steps. It gives ultimate liberty to the project management team to control and neutralize risks in project management. According to PRINCE2 risk is an uncertainty in the outcome of a project, this uncertainty is a two way pehnomenon, it can be a positive opportunity or a negative threat. Thus all the unclear outcomes of a project are termed as risk in PRINCE2 method of project management (Bentley, 2005).

Husky Injection Molding Systems Case Study Example | Topics and Well Written Essays - 1250 words

Husky Injection Molding Systems - Case Study Example Faced with such situations, it is proposed that Husky needs to develop strategic plans that are appropriate, which when effectively implemented are likely to lead to realization of the company’s goals. The report looks at the problem facing Husky by carrying out in-depth analysis of the industry, before providing recommendations and action plan for the recommendations. The concentration and preference for the recommendations is motivated largely by the internal and external environment Husky operate in, resources the company has, and the exhibited market potential and future sustainability of the company. Therefore, the recommendations are perceived to fit well with Husky’s strategic growth needs - expansion, profitability, and continuity. Husky Injection Molding Systems Ltd Background In 1953, Robert Schad established Husky Injection Molding Systems Ltd (Husky para.1). Since its creation, Husky Injection has established itself as one of the cherished and celebrated bra nds in the supply of injection molding equipment and services to the plastic industry. The company owns one of the broadest product lines in the industry, and the company’s products are used by clients in manufacture of a range of plastic products that include bottles and caps for different beverages, food containers, components for automotives, and consumer electronic parts (Husky para.2). At the same time, the company takes part in manufacture of hot runners, robots, and other secondary systems used in plastic manufacture. Since its establishment in 1953, all the way to early 1990s, Husky experienced accelerated growth that was accompanied by increased profits before the fortunes shrunk in early 1996. Starting in 1996, Husky became victim of slowed growth and reduced profits as competition in the industry became inevitable, specifically from low-price competitors. Also contributing to Husky’s dwindle was the increasing shortage of resins that constitutes raw material s for plastics, which led to plummeting in machine demand. The severity of these incidences could not be wished away or ignored; rather, it called for decisive actions by the company. In such scenarios, the company is forced to develop winning strategies if it has to survive and continue into the future. Faced with availability of numerous options in terms of strategies, the best alternative option becomes a problem and this calls for the company to have thorough understanding of both the internal and external environments in which it operates. Problem Statement Husky Injection is a kind of company that has grown and realized satisfied performance due to presence of a formidable internal leadership culture that Robert Schad created in the company. Customer-centered values, hard work, environmental consciousness, egalitarianism, perfectionism and good health constitute the main categories the company has prioritized its values. Robert Schad owns majority of shares in the company (60% ), a situation that makes it possible to arrive at key decisions affecting the company. Coupled with vast experience of many years, Schad remains the pivotal and fulcrum of the company as far as strategic planning take-off is concerned. Apart from possessing a strong internal management culture, Husky prides itself in possessing core values that place the company above others. Research and development (R&D) remains the bedrock of the company’

Customer satisfaction of fast food services in kuwait a survy study Essay - 1

Customer satisfaction of fast food services in kuwait a survy study - Essay Example Through the collaboration of Japanese scientists, engineers, governmental officials, and policy makers, along with the works of Deming and Juran, the Japanese developed a management philosophy that later entitled Total Quality Management (TQM) (Walton 1986; Powel 1995). In fact, the concept of quality has evolved from basic manufacturing and engineering-related activities to a philosophy that encompasses all organizational activities and processes. What today is defined as TQM has its origin in the ideas of quality gurus (Deming, Juran, Crosby, Feigenbaum, Ishikawa) whose primary goals were customer satisfaction and continuous improvement. Despite the number of articles and studies, TQM is an ambiguous concept (Dean & Bowen 1994). The differences between the various frameworks proposed by quality experts and scholars have contributed to the ambiguity of TQM definition, concepts, and constructs. Differences are due to the fact that different people have different understanding of the term â€Å"quality,† and, in that regard, the way they define quality may result in different constructs and models for TQM. This chapter presents a review of the total quality management and customer satisfaction literature. The purpose of this chapter is to provide a clear picture of total quality management, its components, and definition as well as overall customer satisfaction. The concept of TQM is explored within a global context and then expounded upon by offering operational definition as well as dealing with the subject within the context of customer satisfaction in the fast food industry. The concept of TQM has the same vagueness as the definition of â€Å"quality.† As Reed et al. (1996) indicated, there is no consensus on the definition for TQM. TQM definitions vary based on the approach taken towards quality. Flynn et al. (1994) defined TQM as: â€Å"An integrated approach to achieving and sustaining high quality output, focusing on the maintenance and

War crimes Essay Example | Topics and Well Written Essays - 250 words

War crimes - Essay Example o justice has been the fact that it provides a mechanism for international prosecutions where crimes committed that are not catered for within the state policy can be looked into, in addition to this, heads of state are not immune to prosecution thus the full potential of justice is achieved (Maweni, 2011). The court is also not affiliate to the United Nations hence it is not a political instrument. With these views in place, the ICC and other tribunals are in a position to ensure that justice prevails (Maweni, 2011). However, despite these successes, the court is faced with some setbacks. The weakness that tribunals and the ICC face is the fact that given the number and range of crimes that are committed against humanity, it is hard for the ICC to decide on which ones to prosecute and which ones to leave (Russell & Elliot, 2002). This is under the trigger mechanisms, which are three ways under the Rome Statute through which cases can be taken to the ICC. A state party forwarding a case to the tribunal is the most contentious issue because state decision may be interfered with sovereignty and power of the concerned parties (Russell & Elliot, 2002). Therefore, justice for war crime victims may not be achieved if a country does not forward its case to the ICC. As per discussions in the meeting, to ensure that international bodies ensure justice in cases of war crimes, it is the responsibility of various states to support its initiative. This is because the courts can only act in areas where they have jurisdiction. Countries such as America do not support it and this and other nations that do not support the tribunal may be impeding the true course of justice that may be provided by an international tribunal and the International Criminal

Effects of Social Networking Sites Essay Example for Free

Effects of Social Networking Sites Essay The implementation of social networking sites has changed how the average person communicates with others. Studies show that the average person spends at least nine hours a week surfing and posting on social network sites (http://socialnetworking.procon.org/). In fact, using social networking sites has not only improved our communication skills, but has had a negative impact as well. One of the many pros and cons to communicating on a networking site is the ability to â€Å"stay connected.† When a student graduates, a loved one moves, or a career changes, everyone wants to keep up with people they have grown to care for. Being on a social networking site, you can â€Å"friend request† people you know to keep up with their day to day actions. This ensures we don’t miss out on parts of someone’s life where we want to be included. Increasing the communication you have with someone, even online, strengthens your relationship. Unfortunately, being able to â€Å"stay connected† has kept thousands connected in a less than personal way. Networking sites entice people to stay online and spend less face-to-face time with others. So, you may be connecting to friends and family, but you are being distracted by the time wasting activities and applications the site supplies. Your mother doesn’t really care if you reached level ten in the Adventures of Indiana Jones on Facebook. She wants to know how you are doing in your classes at school. Read more:  Essays on Social Networking Another way networking sites are affecting society is evident in the ability to find new people. Making new friends can be a wonderful thing. Consider the following scenario, you are interested in a certain musician and find their â€Å"page† on your networking site. On that same page are many others that have that common interest. Befriending these new people provides a new outlet for expression. A family member or friend may not like the same artist, but finding this new friend gives the ability to have someone to talk to about the subject. On the other hand, not all people surfing these sites that are looking for new friends are doing it for the right reasons. Artists and topics that attract a younger population give ample opportunity for predators to have access to the viewers. There is no way to know that the 15 year old girl you’ve become â€Å"besties† with is really a young girl, or if it’s really a pedophile looking for new prey. â€Å"In Feb. 2009, MySpace identified 90,000 registered sex offenders with profiles on the site, while Facebook declined to reveal how many were present on its site† (http://socialnetworking.procon.org/). Another example of how social networks affect society both positively and negatively is the ability to obtain information. Many networking sites created today are made for specific genres of people. Sites like LinkedIn.com and CafeMom.com have been created to help people with life issues such as finding new jobs or getting tips on breastfed babies. If a person is shy and has trouble meeting that â€Å"special someone,† they can go to a networking site such as MeetUp.com. Sadly, not everything that is posted on these sites can be verified. Most sites, like the match-making sites, have no way to verify that the person posting on their site is them. An older, obese person can post a picture of a younger, thinner person to try and get a match. The site itself does not know that the picture posted is actually the person posting it. So, when the â€Å"date† shows up expecting person A, they are angry or upset that they meet person B, the real person, and bullying, fighting, or worse occurs. Too much false information is passed along the internet, and a large percent of it is done via networking sites. Overall, social networking sites can’t wholly be praised or put down for being â€Å"bad.† Being able to stay connected, make new friends, and get information via these sites has its pros and cons. No matter what changes are made, there will always be those that say the sites are good for our society, and those that say the dangers outweigh the benefits. References: Are social networking sites good for our society? (2012). Retrieved from http://socialnetworking.procon.org/

Biomedical instrumentation and measurement

Biomedical instrumentation and measurement INTRODUCTION: SA node controls the rate of hearts muscular contractions which enables the heart to circulate the blood throughout the body according to the need. Small variations in the heart beat are not harmful but in some cases due to malfunctioning of the hearts electrical system, the heart rate varies drastically resulting in different types of arrhythmias. These cardiac arrhythmias are serious disorders which should be treated immediately. Arrhythmias like bradycardia (low heart rate) can be treated using Pacemakers. Pacemakers can be implanted in the patients heart for permanently stimulating the heart. It is used for patients for whom the SA node is no longer functioning properly. External Pacemakers are also available which is used to treat temporary heart rate variations. It is used for a short period of time before the implanting the Internal Pacemakers in the heart. In order to understand the requirement of pacemakers, it is necessary to understand the functioning of the heart and its electrical system. HEART ITS ELECTRICAL SYSTEM: Heart is a pumping device which is used to circulate the blood throughout the body. It has four chambers namely Right Atrium, Left Atrium, Right Ventricle and Left Ventricle. The right atrium receives the deoxygenated blood from the entire body through the superior vena cava and inferior vena cava. The left atrium receives oxygenated blood from the lungs through the pulmonary veins. When the atrium contracts the blood flows to the corresponding ventricle. This is due to atrial depolarization. When the left ventricle contracts, the oxygenated blood is supplied to all tissues in the body through the aorta. This is due to ventricular depolarization. Similarly, the deoxygenated blood is pumped to the lungs for oxygenation through the pulmonary artery during the contraction of right ventricle. This is due to ventricular repolarization. The Electrical conduction system of the heart consists of SA node, AV node, Bundle of His, Purkinje Fibers. The chambers of the heart should be stimulated electrically for contraction. The stimulations are provided by the SA node (Natural Pacemaker of the heart) which is located in the right atrium of the heart near the entrance of the superior vena cava. Although all the heart cells have the ability to produce electrical pulses which can stimulate the heart, SA node triggers the heart. The fact that SA node produces pulses at a higher rate when compared to other potential cells which can stimulate contraction, contributes to this phenomena. The contraction of various chambers of the heart is characterized in a very specific manner. As the electric pulses pass through each chamber of the heart, they are stimulated to contract. The SA node first triggers the right and left atrium to contract. Then the impulses travel to the AV node which is located between the atria and the ventricles . From AV node ,the pulses travel to the bundle of his. The pulses travel to the individual ventricles through the right and left bundle branch and reach the Purkinje fibers. If the SA node fails, then the AV node acts as the primary pacemaker. If the AV node fails, then the Purkinje fibers takes the responsibility. The SA node receives blood supply from right and left coronary arteries. Under ischaemic conditions, the death of the affected cells will stop the SA node from triggering the heart beat. There is a period of time following the stimulation of heart muscle during which no other action potential can trigger the heart muscles. This period is known as Absolute or Effective Refractory Period (ERP) of heart. It is normally around 0.4 sec. ERP is maintained as high as possible in order to maintain tachycardia and to coordinate the muscle contraction. The anti-arrhythmic drugs taken by the patients usually prolongs the ERP. ELECTRICAL SYSTEM OF HEART ECG ITS SIGNIFICANCE: The electrical activity of the heart muscles is recorded as Electrocardiogram (ECG). It can be acquired non-invasively from the surface of the body by following specific lead configurations. The electrical current generated in the heart due to depolarization and repolarization is spread not only within the heart but also throughout the body. So, ECG can be easily acquired from the surface of the body through electrodes. ECG has four basic components namely, P wave, QRS complex, T wave and U wave. P wave occurs during atrial contraction due to atrial depolarization. The duration of the P wave ranges from 0.08- 0.1 sec. During the atrial depolarization, the impulse from the SA node spreads throughout the atrium. The time period between the onset of the P wave and the beginning of the QRS complex is about 0.12- 0.2 sec. During the zero potential period between the P wave and QRS complex, the impulse travels within the AV node and the Bundle of His.QRS complex occurs during ventricular c ontraction due to ventricular depolarization. The duration of the QRS complex ranges from 0.06-0.1 sec. T wave occurs during ventricular relaxation due to ventricular repolarization. Sometimes, a small positive U wave occurs following the T wave due to the last remnants of the ventricular repolarization. ELECTROCARDIOGAM NORMAL AND ABNORMAL ECG WAVES: Normal ECG: NORMAL ECG Heart rateis nothing but the number ofheartbeatsper unit oftimewhich is expressed as beats per minute (bpm) which can vary as the bodys need for oxygen changes, such as duringexercise or sleep. The measurement of heart rate is used bymedical professionalsto assist in thediagnosisand tracking of medical conditions. It is also used by individuals, such asathletes, who are interested in monitoring their heart rate to gain maximum efficiency from their training. TheR waveto R wave interval(RR interval) is the inverse of the heart rate ,that is one divided by RR interval gives the heart rate. Typical healthy resting heart rate in adults is 60-80 bpm which is referred to be normal heart rate,with rates below 60 bpm referred to asbradycardia and rates above 100 bpm referred to astachycardia. Missed ECG: MISSED ECG This can be detected when the R-R interval is twice the actual R-R interval (for normal subjects).Heart pulses misses at some intervals and does not follow the premature heart beat. Bradychardia: BRADYCARDIA This is a critical reduction of heart rate and characterized by normally directed abnormally wide P waves and normal PR interval. Whenever the R-R interval exceeds 1 sec the heart rate goes below 60 and the condition is referred to as Bradychardia. There are three types of Bradychardia conditions based on the characteristics of the ECG wave, they are Sinus bradychardia, Atrio-ventricular nodal bradychardia and ventricular bradychardia respectively. They are discussed below. Sinus bradycardia: SINUS BRADYCARDIA Sinus bradycardias are also called as Atrial bradychardias. This bradychardia condition is usually found in young and healthy adults. The symptoms represent with the individualsrespirations. Theabnormalpattern of eachinhalationcorresponds with the heart rate decreasing.Expirationcauses an increase in the hearts rate of contraction. This is thought to be caused by changes in the vagal tone duringrespiration. Sinus bradycardia is a sinus rhythm of less than 60 bpm. It is a common condition found in both healthy individuals and those who are considered wellconditioned athletes. The reason for this is that their heart muscle has become conditioned to have a higher stroke volume and therefore requires fewer contractions to circulate the same volume of blood. Sick sinus syndromecovers conditions that include severe sinus bradycardia, sinoatrial block, sinus arrest, and bradycardi-tachycardia syndrome (atrial fibrillation, flutter, and paroxysmal supraventricular tachycardia). Atrio ventricular nodal bradycardia: ATRIO VENTRICULAR NODAL BRADYCARDIA An atrio ventricular nodal bradycardia or AV junction rhythm is usually caused by the absence of the electrical impulse from thesinus node. This usually appear on anEKGwith a normal QRS complexaccompanied with an inverted P wave either before, during, or after the QRS complex. An AV junctional escape is a delayed heartbeat originating from anectopicfocus somewhere in theAV junction. It occurs when the rate ofdepolarizationof the SA node falls below the rate of the AV node.This dysrhythmia also may occur when the electrical impulses from the SA node fail to reach the AV node because of SA or AV block.This is a protective mechanism for the heart, to compensate for a SA node that is no longer handling the pace making activity, and is one of a series of backup sites that can take over pacemaker function when the SA node fails to do so. This would present with a longerPR interval. A junctional escape complex is a normal response that may result from excessive vagal tone on the SA node. Pathological causes include sinus bradycardia, sinus arrest, sinus exit block, or AV block. Ventricular bradycardia: VENTRICULAR BRADYCARDIA This picture shows an ECG of a person with an abnormal rhythm (arrhythmia) called an atrioventricular (AV) block. P waves show that the top of the heart received electrical activity. Each P wave is usually followed by the tall (QRS) waves. QRS waves reflect the electrical activity that causes the heart to contract. When a P wave is present and not followed by a QRS wave (and heart contraction), there is an atrioventricular block, and a very slow pulse (bradycardia). PACEMAKER AND ITS SIGNIFICANCE: More than 60% people fall victim to heart attacks in most of the countries around the globe every year and thousands more are critically injured in accidents. Taking care of these patients in special care units involves the usage of specialized equipments like pacemakers along the other important ones. In the past few years electronic pacemaker systems have become the important one in saving lives of cardiac patients whose normal pacing functions have been impaired. Depending on the exact nature of a cardiac dysfunction, a patient may require temporary artificial pacing during the course of treatment or permanent pacing in order to lead an active, productive life after treatment. A device capable of generating artificial pacing impulses and delivering them to the heart is known as a pacemaker system (commonly called a pacemaker) and consists of a pulse generator and appropriate electrodes. Pacemakers are available in a variety of forms. They are mainly divided into two types External pacemakers and Internal pacemakers respectively. EXTERNAL PACEMAKER: External pacemakers are used on the patients with temporary heart irregularities, such as those encountered in the coronary patient, including heart blocks. They are also used for temporary management of certain arrhythmias that occur in the patients during critical postoperative periods and in the patients during cardiac surgery, especially if the surgery involves the values or septum. An external pacemaker usually consists of an externally worn pulse generator connected to electrodes located on or within the myocardium. External pacemakers, which include all types of pulse generators located outside the body, are normally connected through wires introduced into the right ventricle via a catheter catheter. The pulse generator may be strapped to the lower arm of a patient who is confined to bed, or worn at the midsection of an ambulatory patient. We have made the pacemaker which can be divided into two general categories namely Asynchronous pacemaker Synchronous pacemaker ASYNCHRONOUS PACEMAKER: This type of pacemaker is intended for patients having permanent heart blocks. The rate is preset. It can be varied externally within the range of 60 PPM to 180 PPM. Since this pacemaker functions regardless of the patients natural heart rhythm it poses a potential danger because of competition between the patients rhythm and that of the pacemaker. PACING PULSES FROM ASYNCHRONOUS PACEMAKER SYNCHRONOUS PACEMAKER: In patients who have normal heart function most of the time, asynchronous pacing can be extremely dangerous, working against their own physiological pacemaker with the danger of stimulating in the vulnerable period of the T wave, a condition that can result in fibrillation. The demand pacemaker consists of an ECG amplifier and a conventional pacemaker output pulse circuit that has been modified to allow output from the ECG amplifier to inhibit the pulse generator. This pacemaker senses R-waves and its timing and logic circuits count out an elapsed time interval following an R-wave or previously induced pulse. If the intrinsic R-wave does not appear before the elapsed time interval, the ventricle is stimulated. If an R-wave is received, the counter is reset again. This type of pacemaker is used for patients with bradycardia, and it ensures a heartbeat no slower than its set rate. PACING PULSES FROM SYNCHRONOUS PACEMAKER INTERNAL PACEMAKER: Internal pacemaker are implanted within the pulse generator placed in a surgically formed pocket below the right or left clavicle, in the left subcostal area, or in women, beneath the left or right major pectoralis muscle. Internal leads connect to electrodes that directly contact the inside of the right ventricle or the surface of the myocardium. The exact location of the pulse generator depends primarily on the type of the electrode used, he nature of the cardiac dysfunction, and the method (mode) of pacing that may be prescribed .Since there are no external connections for applying power, the pulse generator must be completely self contained, with a power source capable of continuously operating the unit for a period of years. BIO POTENTIAL ELECTRODES: A wide variety of electrodes can be used to measure bio electric events but nearly all can be classified as belonging to one of three basic types; Micro electrodes Skin surface electrodes Needle electrodes All three types of bio potential electrodes have the metal-electrolyte interface. In each case, an electrode potential is developed across the interface, proportional to the exchange of ions to the metal and the electrolytes of the body. MICROELECTRODES: They are used to measure bio electric potentials near or within a single cell.Microelectrodes are electrodes with tips sufficiently small to penetrate a single cell in order to obtain readings from within the cell. The tip must be small enough to permit penetration without damaging the cell. This action is usually complicated by the difficulty of accurately positioning an electrode with respect to a cell. Because of their small surface area, they have impedances well up into the megohms. For this reason, amplifiers with extremely high impedances are required to avoid loading the circuit and to minimize the effects of small changes in interface impedance. SKIN SURFACE ELECTRODES: Skin surface electrodes are used to obtain bio electric potentials from the surface of the body. They are available in various size. Although any type of surface electrode can be used to sense ECG, EMG, EEG potentials, the larger electrodes are usually associated with ECG, since localization of the measurement is not important. Smaller electrodes are used in EEG and EMG measurements. Various types of disposable electrodes have been introduced in recent years to eliminate the requirement for cleaning and care after each use. In general, disposable electrodes are of the floating type with simple snap connectors by which the leads, which are reusable, are attached. Although, some disposable electrodes can be reused several times, their cost is usually low enough that cleaning for reuse is not warranted. They come pre gelled, ready for immediate use. NEEDLE ELECTRODES: To reduce interface impedance and, consequently, movement artifacts, some electroencephalographers use small subdermal needles to penetrate the scalp for EEG measurements. They are also used to measure EMG potentials from a specific group of muscles. They are less susceptible to movement artifacts when compared with surface electrodes as they create an interface beneath the surface of the skin. By making direct contact with the subdermal tissue or the intercellular fluids, these electrodes also seem to have lower impedances than surface electrodes of comparable interface area. Even though needle electrodes have less motion artifacts ,surface electrodes are used to acquire ECG because surface electrodes are more convenient for the patient .Most of the surface electrodes are cheap and reusable. ACQUISITION OF ECG USING 3 LEAD SYSTEM LEAD I CONFIGURATION: ECG sensors measure the time-varying magnitude of electric fields emanating from the heart. ECG values are measured by placing non-invasive electrodes at the surface of the patients skin. For a 3-lead ECG sensor, the electrodes need to be placed in a triangle (Einthoven Triangle) on the patients chest as shown in the figure 11. Each corner of the triangle corresponds to one of the limbs: right hand, left hand, left foot. With the bipolar system, one limb is connected to the positive terminal of the amplifier and another limb to its negative terminal. Three limbs (right arm-RA, left arm-LA and left leg/foot-LL) are used. The right leg was used as earth, to minimize interference. ECG AMPLIFIER: Bioelectric signals have very high input impedance. To stop the signal attenuation, we use Instrumentation Amplifier (AD 624) which also has high input impedance. It should have high gain and low output impedance .In order to remove the common mode signals ,it should have a high Common Mode Rejection Ratio (CMRR of about 90 dB).The potential at the surface of the body ranges from 0 10 mV so the amplifier should have high gain (1000). We use a differential amplifier to amplify the bioelectric signals that occur as a potential difference between two electrodes, the bioelectric signals are applied between the inverting and non-inverting inputs of the amplifier. The signal is therefore amplified by the differential gain of the amplifier. For the interference signal, however, both inputs appear as though they were connected together to a common input source. Thus, the common mode interference signal is amplified only by the much smaller common mode gain. The electrode impedances form a v oltage divider with the input impedance of the differential amplifier. If the electrode impedances are not identical, the interference signals at the inverting and non-inverting inputs of the differential amplifier may be different, and the desired degree of cancellation does not take place. Because, the electrode impedances can never be made exactly equal, the high common mode rejection ratio of a differential amplifier can only be realized if the amplifier has an input impedance much higher than the impedance of the electrodes to which it is connected. There are different lead configurations such as 3-Lead, 5-Lead, 12-Lead for acquiring ECG Signal. We have used 3-Lead system Lead I Configuration. 12-CIRCUIT FOR ECG AMPLIFIER AMPLIFIER OUTPUT SOFTWARE IMPLEMENTATION USING LABVIEW: LabVIEW (short for Laboratory Virtual Instrumentation Engineering Workbench) is a platform and development environment for Visual Programming Language from National Instruments. LabVIEW is a graphical programming environment used by millions of engineers and scientists to develop sophisticated measurement, test, and control systems using intuitive graphical icons and wires that resemble a flowchart. LabVIEW offers unrivaled integration with thousands of hardware devices and provides hundreds of built-in libraries for advanced analysis and data visualization. The LabVIEW platform is scalable across multiple targets and operating systems. LABVIEW is a GUI (Graphical User Interface) which can be used for processing of signals, images and other forms of data. One of the most powerful features LabVIEW offers engineers and scientists is its graphical programming environment. With LabVIEW, one can design custom virtual instruments by creating a graphical user interface on the computer screen through which one can: Operate the instrumentation program Control selected hardware Analyze acquired data Display results One can customize front panels with knobs, buttons, dials, and graphs to emulate control panels of traditional instruments, create custom test panels, or visually represent the control and operation of processes. The similarity between standard flow charts and graphical programs shortens the learning curve associated with traditional, text-based languages. The behavior of the virtual instruments can be determined by connecting icons together to create block diagrams, which are natural design notations for scientists and engineers. With graphical programming, one can develop systems more rapidly than with conventional programming languages, while retaining the power and flexibility needed to create a variety of applications. We have used Lab view to acquire the signal, filtering and do other processing of the ECG signal. The real time signal is given into as input to ELVIS I which acts as the DAQ (data acquisition system).The block diagram of the Lab view implementation is as shown in figure 14. STEPS INVOLVED IN LABVIEW IMPLEMENTATION: The ECG signal from the amplifier (using AD 624) is given as input to DAQ for acquiring the signal in Lab view software. FFT of the ECG signal is obtained and viewed. We can see the frequency content of the ECG signal from the FFT obtained. WE can also see the presence of 50 Hz power line interference in the FFT of raw ECG. A Smoothing filter with following specifications Moving average, Rectangular filter with a half width of 20 is constructed. The Smoothened ECG is viewed. Smoothing Filter is used to remove noise and 50 Hz power line interference. The Smoothened signal is given as input to the Butterworth Band Pass Filter of order 2 and a low cutoff frequency of 5Hz and high cut off frequency of 15Hz.Band Pass Filter is used to separate the QRS complex from the ECG Signal. The output of the Band Pass Filter is differentiated and squared inorder to enhance the QRS complex from the remaining portion of the waveform. The heart rate is calculated using timing and tone measurement block. The block gives the frequency of repetition of the QRS complex. The frequency value is converted into time value by taking inverse of it. Heart rate is calculated as follows. Heart Rate = 60/R-R Interval Example: R-R Interval = 760ms Heart Rate = 60/760ms = 78.94 Beats /Minute If the calculated heart rate is below the normal value, then pacing pulses are produced .This is done by using a case structure. The case structure turns on only when the case is true (Heart Rate is below normal value).Inside the case structure we have a square wave generator. The output of the square wave generator is differentiated and squared. We get a pulse as a result of these operations. The rate and amplitude at which the pulses are produced can be modified easily at run time using controls. Whenever the heart rate is normal, False condition is selected . For false condition, we set the amplitude and frequency of the square wave as zero so that the pacemaker is switched off. The Pacing Pulses generated can also be taken out as an analog voltage from the ELVIS and can be viewed in a DSO. Only voltages in the range +10 volts to -10 volts can be taken out from LABVIEW through ELVIS. PACEMAKER FINAL BLOCK DIAGARM. FRONT PANEL IN LABVIEW ENTIRE SOFTWARE IMPLEMENTATTION We have implemented the case structure and other blocks by studying the general tutorials given in LV BASICS 1 MANUAL and LABVIEWBASICSII_85_ENG CLAD. HARDWARE IMPLEMENTATION: BLOCK DIAGRAM FOR HARDWARE IMPLEMENTATTION BAND PASS FILTER: The amplifier which is used in software implementation (AD 624) is also used here. It is followed by a filter. The amplifier output is around 550 mV. A Filter is a circuit that is defined to pass a specified band of frequencies while attenuating all signals outside this band. Filter networks may be either active or passive. Passive filter networks contain only resistors, inductors and capacitors. Active filters employ transistors or op amps plus resistors, inductors and capacitors. Inductors are often used in active filters, because they are bulky and costly and may have large internal resistive components. Band Pass Filters pass only a band of frequencies while attenuating all frequencies outside the band. A simple high pass filter followed by a low pass filter will form a band pass filter. We have used a band pass filter (0.5Hz 40 Hz) to remove high frequency signals like EMG and low frequency components like Base Line Wandering and motion artifacts. We have used a second order Bu tterworth Filter with -40 db/decade roll-off. For Low Pass Filter, we used 0.5 Hz as the cut off frequency.C1 is chosen as a convenient value between 100 pF and 0.1Â µF.For High Pass Filter, we used 40 Hz as the cut off frequency. We have implemented a Band Pass Filter according to the design given in OPERATIONAL AMPLIFIERS AND LINEAR INTEGRATIONAL CIRCUITS. CIRCUIT AND DESIGN FOR BAND PASS FILTER NOTCH FILTER: A Notch Filter transmits frequencies in the pass band and rejects undesired frequencies in the stop band. In applications where low level signals must be amplified, there may be present one or more of an assortment of unwanted noise signals. Examples are 50, 60 0r 400 Hz frequencies from power lines, 120 Hz ripple from full wave rectifiers, or even higher frequencies from regulated switching type power supplies or clock oscillators. If both signals and signal frequency noise component are passed through a notch filter, only the desired signals will exit from the filter. The noise frequency is notched out. We have designed a active notch filter (using LM 324) to remove 50 Hz Power Line Interference. The amplitude of the acquired ECG signal is around 1 2 V. We got noise free ECG for real time signal acquisition as shown below. CIRCUITAND DESIGN FOR NOTCH FILTER REAL TIME ECG ACQUISITION QRS DETECTOR: In order to extract the QRS Complex from the ECG signal obtained, we use a band pass filter with center frequency of 17 Hz and band width of 6 Hz. The QRS signal obtained from the band pass filter is rectified for comparing with the threshold voltage generated by the detection circuit. The filtered and rectified ECG is stored on a capacitor. This filtered and rectified ECG is compared with the fraction of this voltage. Whenever a threshold voltage is exceeded, the QRS pulse is detected. After the detection of every QRS pulse, the capacitor recharges to a new threshold value after every pulse. CIRCUIT FOR QRS DETECTION MONOSTABLE MULTIVIBRATOR: Monostable Multivibrator generates a single output pulse in response to an input signal. It is also known as One Shot Multivibrator. The time period of the output pulse depends only on the external components (resistors and capacitors) connected to the op-amp. The duration of the input triggering pulse can be longer or shorter than the expected pulse. The duration of the output pulse is represented by the T. Since T can be changed only by changing the resistors and capacitors ,the one shot multivibrators can be considered as a pulse stretcher. This is because the width of the pulse can be longer than the input pulse. In a stable or standby state, the output of the multivibrator is zero or low-level logic. The output of the multivibrator is forced to go high (ËÅ"Vcc) when an external trigger is given. The output stays zero until the next triggering pulse is given. Then the cycle repeats. The monostable multivibrator has only one stable state. Hence, the name monostable. The QRS detector gives a pulse for QRS detected which is given as an input trigger for a monostable multivibrator. This monostable multivibrator is used to produce a positive pulse (amplitude 5V) of desired pulse width for every input triggering (negative edge triggering) from the QRS detector. We had used 555 Timer as a monostable multivibrator. MULTIVIBRATOR OUTPUT Thus, the analog section of the project gets over with multivibrator. The output of the multivibrator is processed using PIC18F 4550 Microcontroller. It marks the beginning of the controller section. MICROCONTROLLER: PIC is a family of Harvard architecture microcontrollers made by Microchip Technology, derived from the PIC1640 originally developed by General Instruments Microelectronics Division. The name PIC initially referred to Programmable Interface Controller, but shortly thereafter was renamed Programmable Intelligent Computer. PICs are popular with developers and hobbyists alike due to their low cost, wide availability, large user base, extensive collection of application notes, availability of low cost or free development tools, and serial programming (and re-programming with flash memory) capability. Like all Microchip PIC18 devices, PIC18F4550 family are available as both standard and low-voltage devices. Standard devices with Enhanced Flash memory, designated with an F in the part number (such as PIC18F4550),accommodate an operating VDD range of 4.2V to 5.5V.Low-voltage parts, designated by LF (such as PIC18LF4550), function over an extended VDD range of 2.0V to 5.5V. Our project uses a standard PIC 18F4550.Hence this microcontroller uses a flash program memory of 24K bytes .It is a 8-bit microcontroller and so they handle data as 8-bit chunks. PICs have a set of registers that function as general purpose ram. Special purpose control registers for on-chip hardware resources are also mapped into the data space. The addressability of memory varies depending on device series and in PIC 18F4550 external code memory is directly addressable which is an exceptional feature compared to baseline and mid line core devices. PICs have a hardware call stack, which is used to save return addresses. The hardware stack is not software accessible on earlier devices, but this changed with the 18F4550 device. Hardware support for a general purpose parameter stack was lacking in early series, but this greatly improved in the 18F4550, making the this device architecture more friendly to high level language compilers. Core features All of the devices in thePIC18F 455 series family incorporate a range of features that can significantly reduce power consumption during operation. Key items include: Alternate Run Modes: By clocking the controller from the Timer1 source or the internal oscillator block, power consumption during code execution can be reduced by as much as 90%. Multiple Idle Modes: The controller can also run with its CPU core disabled but the peripherals still active. In these states, power consumption can be reduced even further, to as little as 4% of normal operation requirements. On-the-Fly Mode Switching: The power managed modes are invoked by user code during o

Wilfred Owens Poetry and War Essay -- Wilfred Owen Poetry Poems War E

Wilfred Owen's Poetry and War Wilfred Owen is now seen as one of the most important of the many poets of the First World War. He was born the son of a railway worker in Shropshire, and educated at schools in Shrewsbury and Liverpool. His devoted mother encouraged his early interests in music and poetry. When he could not afford a university education, he went abroad to teach English in France. He was there when war broke out in 1914, and decided to return to England to volunteer for the army. After training, he became an officer and was sent to France at the end of 1916, seeing service first in the Somme sector. In spring 1917, he took part in the attacks on the German Hindenburg Line near St Quentin. When a huge shell burst near him, he was shell-shocked and sent back to England. The horrors of battle dramatically changed him from the youth of August 1914, who had felt 'the guns will effect a little useful weeding'. From his experiences, Owen was able to write very graphic and realistic poems, to show his reader the true atrocities of war. Three of his poems that show different aspects of war are; 'Anthem for Doomed Youth', 'Dulce et Decorum Est', and 'The Send-Off'. The poem 'Anthem for Doomed Youth', is a long comparison between the elaborate ceremonial of a Victorian-style funeral, and the way in which men go to their death on the western front. The poem is written in the form of a sonnet, and has a very traditional format. Owen wrote in this way mostly due to the influence of the poet Siegfried Sassoon, whose experience and high education helped him greatly during this period. The poem is made up of fourteen lines, and follows the rhyme scheme abab, cdcd, effe, gg. The title of the poem ... ...st; the contrasting 'lie' of the phrase 'Dulce et Decorum Est, Pro patria mori', the contrast of elaborate Victorian funerals and the way in which men go to death, in Anthem for Doomed youth, and in The Send-off, the contrast of the phrase 'grimly-gay', to imply a sense of guilt and conspiracy to the poem. The three poems that I have studied, all show different aspects of war, and have many similarities and comparisons. However, they were all written with the same intention and opinion, by a soldier who had first-hand experience of the front line, and as such would not be duped by the media's portrayal of war as romantic and heroic. I think that the overall message Owen is trying to portray, is that the atrocity of war should be considered utterly senseless, brutal, and inhumane, and avoided at all costs, no matter what the situation happens to be.

College Athletes Should be Paid Essay example -- argumentative essay

A running back slips through the line, breaks a couple tackles, and scampers down the sideline for a large gain. The point guard pulls up for a deep jump shot over his defender and nails it as the shot clock expires. Both of these descriptions can be used to describe either a college athlete or professional athlete. Both are participating in a sporting event in which fans will pack into the stadium or arena. Money is flowing into both the college and professional organization. This is where the similarities end. In the professional leagues such as the NBA or NFL, athletes make millions of dollars off of lucrative contracts and an abundance of endorsements. They can make as much money as they possibly can. In college, the athletes are limited to what kind of scholarship the college they are attending provides them and whatever money they have saved. It may not appear like this is not a serious problem. However, there is the one glaring difference between these two sides. While professional athletes are paid to play and can make bundles of money, college athletes are not allowed to receive money or other benefits of any kind even if they acquire this money in a legal and correct fashion. This has been the rule for ages, but many people are starting to challenge the rule. There are people who believe that college athletes should not be able to receive benefits of any kind, including money. On the other side, there are people who believe that the college athletes should be able to make money and support themselves. The people who are the side which believes the should not make money usually point out the fact that they are in college and should be more focused on their studies. The other side provides many valid points to h... ...rmine how much to pay each player in different sports. However, it seems completely unfair that a college athlete can neither accept gifts from someone or even sell their own possessions to make money. If a regular student can sell something they own on a website such as Ebay, why is that an athlete is not allowed to do the same with something they own? It also seems crazy to me how something as simple as â€Å"Dez Bryant [a former wide receiver at Oklahoma State]...having a meal with Deion Sanders† (Rogers 2) will cause the NCAA to throw down harsh suspensions down on the athlete and school. The NCAA needs to worry about more important things then who the student-athletes dine with and whether or not they are selling apparel they wore in a game. Hopefully they will realize this and the student athletes in college will finally get a fair chance at the money they deserve.

snow faliing on cedars racism Essay -- essays research papers

In a community of â€Å"five thousand damp souls† (Guterson 5) as described by David Guterson in his novel, Snow Falling on Cedars. A community that concentrated a variety of ethnicity, among them was both Whites and Japanese. As a result of the racial differences, racism has came into existences and have impacted the life of both children and adult in that isolated island called San Piedro. It is responsible for the internment of Kabuo, Hatsue, and their families, the breakup of Hatsue and Ishmael, Kabuo's loss of his land, and perhaps for his indictment for murder. Before the war years, Kabuo's father, Zenhichi made an illegal agreement with the victim's father, Carl Heine senior. It was an agreement to an eight-year â€Å"lease-to-own† contract. Money changed hands, land was promised and terms were set. Unfortunately, the war came and the Japanese Americans were sent away to internment camp. Nothing was quite the same at wars end. When the Miyamoto has returned to claim their land, they had found out that the victim’s mother, Etta, cheated them. She sold their seven acres of strawberry land to another farmer, because of lack of the last payment during their removal. This disreputable action she took, was caused by her racist thoughts that she had toward Japanese. This has been demonstrated out in her conversation with her husband, she said, â€Å"We’re not such paupers as to sell to Japs, are we? For new clothes? For a pouch of fancy pipe tobacco?† (Guterson 119). Because of her being racist, it had cost the land of the Miyamoto and raised tension between the two families and created a motive for Kabuo to commit murder to Etta’s son as for revenge and to release his anger. Snow Falling on Cedars opens up in the middle of Kabuo Miyamoto’s trail. A trail that deals with a first degree murder case, that Kabuo was being accused of murder of a white fellow fisherman by the name of Carl Heine. In this murder case, racism has played a very important role in affecting the judgement and outcome of the trail. As being Japanese, Kabuo has been placed under a very unpleasant circumstance. The evidences founded had lead the investigator, Sheriff Art Moran to believe that Kabuo was somehow suspicious. Together with the judgement made by the coroner of the wound on the victim’s head, which was predominantly affected by his racist thought toward Japanese.... ...their son and daughter to date or have interracial marriage. Despite the racial differences and their parents' disapproval, they still carry on their relationship in behind their parents’ back. But as time goes, their relationship could no longer be sustained. The exposure of the secret letter that Ishmael wrote to Hatsue had led to the end of their relationship. When Fujiko, Hatsue's mother discovered the letter, she told herself, "She would put an end to this business." (Guterson 227). As a matter of fact, racism has played a big role in the novel. It has affected the life of Hatsue, Ishmael, Kabuo and their families, and it is responsible for the loss of Kabuo’s seven acres of strawberry land, and made Kabuo being accused of the murder of Carl Heine. If the people were not racist, things would not have happened as the way it has been. The murder trail of Kabuo would have never taken place. Hatsue and Ishmael would have been a happy couple together. As for Kabuo himself, he would have inherited the strawberry field and continue on to be a farmer like his father. But this is how things are in this world. Nothing is perfect. There is always a negative side to everything.

Lvmh Report

Business Report of LVMH Group members: Rining Mutang Beili Yin 10130350 10153456 10095036 Sekit Chubuppakarn Xu Yang 10095786 10136050 Mahsa Tolou Sharifi 0 Executive summary LVMH, the world s largest luxury group, came into being with the mergers of Moet Hennessy and Louis Vuitton in 1987. Besides its traditional strengths in wines & cognac and leather & fashion goods, other three are perfumes & cosmetics, watches & jewelry and selective retailing. In the external environment of part two, the report analyzed the relevant dimensions of the macro environment by use of the PESTEL framework and the luxury industry by the Five forces framework.The global economy, people s expectations on luxury goods, drive for technological application, rarity of raw materials, and intellectual property laws all have an impact on LVMH in a broad sense. In a narrower sense, market entry into the luxury sector is defined low, threat of substitutes neutral (low to loyal customers but high to those who norm ally cannot afford), the power of suppliers, the power of buyers and competitive rivalry all high. Generally the luxury industry can be regarded as in the shake-out stage; owever, people in the US, wealthy European countries and different Asian countries are in the different stages of luxury spread process. Following the life cycle of the industry, the cycles of competition model will be illustrated to explain the strategic moves of LVMH and its two main competitors PPR and Richemont. In the strategic capabilities of part two, the report presented LVMH s physical resources, financial resources, human resources and intellectual capital. The Group s core competencies lie in four key elements and price. product, distribution, communicationIn the culture and strategy of part two, LVMH s corporate values and culture, and the cultural web in terms of symbols, organizational and power structure and control system are presented respectively. LVMH stresses on the creative design and quality 1 excellence of its products. At the corporate level, LVMH expands horizontally and vertically in both backward and forward integration. The Group s good corporate parenting adds value to the individual brand underneath it. LVMH s strategic direction can be defined as diversification, a combination of market penetration, product development and market development.The Group s current product portfolio, as diversified as over 50 brands, is shaped by Bernald Arnault s constant acquisitions. LVMH s mission is to let art travel around the world, but due to its price mark-up, the country it enters should have sufficient customers who can afford the LVMH products. Therefore, the Group s international strategy more follows the people of high income than particular countries. The way LVMH chooses to enter a foreign market is usua lly by acquisitions of reputational domestic brands.At the business level, we mainly present the strategy of Louis Vuitton, the star brand under LVMH, which account s for 60 per cent of the Group s revenue. Louis Vuitton differentiates itself by four approaches stick firmly to the full price, pick store locations professionally, control the production strictly, and manage its own inventory. Innovation and entrepreneurship are fundamental drivers in today s economy, even for well-established MNCs like LVMH. Vigorous product and process innovation contributes to LVMH s long-standing success.The challenge for entrepreneurs at the maturity stage is to keep their passion and momentum to create new growth for the company. However, this doesn t seem a problem for Bernald Arnault, who has been the CEO of LVMH since 1988. 2 Contents 1. Introduction 2. The strategic position 2. 1 External environment 2. 1. 1 The macro environment: PESTEL framework a. Economic b. Socio-cultural c. Technological d. Environmental e. Legal 2. 1. 2 Sources of competition: Five forces framework a. The threat of entry b. The threat of substitutes c. The power of supp liers d. T he power of buyers e. Competitive rivalry 2. 1. Life cycle of the industry 2. 1. 4 Cycle of competition Strategic capabilities 2. 2. 1 Resource categories a. Physical resources b. Financial resources c. Human resources d. Intellectual capital 2. 2. 2 Core competencies 2. 2 2. 3 Culture and strategy 2. 3. 1 Corporate values and culture 2. 3. 2 The cultural web a. Symbols b. Organizational structure and power structure c. Control system 3. Strategic choices 3. 1 Corporate level strategy 3. 1. 1 Value-added by corporate parenting 3. 1. 2 Diversification 3. 1. 3 Portfolio management 3 International strategy 3. 2. 1 Market entry strategy and entry mode 3. . 2 Market selection 3. 2. 3 Difficulty of imitation 3. 2. 4 Drivers for internationalisation 3. 3 Business level strategy 3. 4 Innovation and entrepreneurship 3. 4. 1 Product and process innovation 3. 4. 2 LVMH s Diffusion S-curve 3. 4. 3 Portfolio of Innovation Options 3. 4. 4 Entrepreneurship 3. 2 4. Conclusion 4 1. Introduction Moet Hennessy and Louis Vuitton merged in 1987 forming the incumbent luxury goods conglomerate LVMH (LVMH, 2010). The Group s First Half 2010 Interim Report announced double-digit revenue growth rate in all the five business lines that LVMH is active in: Wines and spirits Fashion and leather goods Perfumes and cosmetics Watches and jewelry Selective retailing There is no other sector like luxury that the higher the price the more customers desire will be. This is because luxury is a package of tangible product and intangible benefits like emotional satisfaction from others admiration and respect (Okonkwo, 2007). Due to its existing presence in the industry, LVMH is getting through the economic turmoil comparatively well, which is largely driven by the strong momentum of its Louis Vuitton brand (The Economist, 2009).The Group s latest move will be expanding into LVMH hotel management of the Cheval Blanc brand in Egypt and Oman. This initiative was mainly driven by the demand from its cur rent customers for luxurious travel experiences (Socha, 2010). 2. The strategic position 2. 1 External environment 2. 1. 1 The macro environment: PESTEL framework a. Economic Global economies have been recovering with uncertain fact ors still existing. However, due to its established global presence, LVMH s outlook is positive, both in the major markets developed countries where its leadership position has been firmly secured 5 ver decades and where people s pursuit for quality luxury is believed to continue; and in emerging markets where the Group s solid foundations has been established and expansion will be accelerated at the right timing (LVMH, 2010). In spite of the economic downturn, the Group has been benefiting from the s trong growth in Asia and resilience in Europe. Recessions come and go, but some individuals are always willing to spend on luxury goods like handbags and watches, which in return pay them back in quality life and admiration from friends (Hazlett, 2004).No m atter good or bad economy, it does not have much impact on the spending of those really rich elites. However, according to Bernstein Research, the rapid growth of luxury goods industry is primarily being driven by the strong demand from the middle class, who account for almost 60 per cent of the total sales (The Economist, 2009). With a quite large and fast growing discretionary income, those affluent middle class have a quite positive attitude towards luxury goods, the quality of which is their first requirement of purchasing (Chevalier & Lu, 2010). . Socio-cultural According to Chevalier and Lu (2010), many luxury goods will be tailored to Asian preference specifically. The underlying reason of Asians affection towards luxury is social order transformation in many Asian countries. A person s social status is no longer rigidly decided by birth and his or her family background, but based on how much wealth the person possesses. Even though a person was born in a humble background, h e or she has opportunities to climb up the ladder and make enough money to reach certain social status.Then question comes how to turn the wealth in the bank account into something more noticeable and measurable so that can win respect from others. The influx of western luxury brands with outstanding logos and worldwide recognition seems perfect solution to many Asian new rich ( Chadha & Husband, 2006). In contemporary Asia, luxury brands are wearable symbols of identity and social status, while in the US and European countries, consumers are relatively more sophisticated and the luxury goods are regarded as a kind of lifestyle (Okonkwo, 2007). The socio-cultural challenge for LVMH would be how to keep a 6 alance between different markets where expectations from its products are different. c. Technological Technology is supposed to post a significant challenge on every aspect of the luxury industry, from raw material sourcing to strategy development. In the past decade, there has be en many business applications related to ICT (Information and Communication Technology) such as ERP (Enterprise Resource Planning) and SAP (Systems, Applications, and Products). All these common databases can help to make things smoother for process flow inside the supply chain.In this way, the data regarding the market conditions could be analyzed and passed on more effectively and rapidly, also it will be possible to predict the demands of consumers with higher accuracy, the latest designs and prototypes would be able to be proposed at a quicker rate, and there will be reduced lead time when it comes to the releasing of latest products. When luxury brand companies are fully integrated into ICT systems, it may very well help them to create and come up with fresh competitive advantages. Besides that, the organization will also achieve a greater balance in terms of efficiency and cost (Okonkwo, 2010). . Environmental LVMH s success is hugely based on their sales from their luxury bra nds. In this market, luxury brands are a massive intangible asset, therefore the perceptions and image that is perceived by the public can greatly influence the values of the brand. This is an important issue that LVMH need s to monitor closely. If LVMH wants to maintain and also improve the reputation of their brands, the company should focus on vital components that have already been implemented by many luxury brand companies, which is the Corporate Social Responsibility of environmental protection (LVMH, 2009). 7 e.Legal The Louis Vuitton brand is the most frequently counterfeited one in the luxury category (Chadha & Husband, 2006). The company has 40 lawyers and 250 investigators and spends approximately $18 million every year on combating counterfeiting. The issue is particularly serious in China, where most of the faked products come from and the protection for intellectual property rights is weak (Okonkwo, 2007). However, the China Government has shown its efforts to take thi s issue seriously by approving new laws, raiding on the counterfeiting factories and closing some notorious markets flooded with faked products. . 1. 2 Sources of competition: 5 forces framework a. The threat of entry With help of the Internet, it is possible for a brand to achieve global awareness and credibility within five years. The ever increasing global mobility through business trips and travel also contributes to the rapid expansion of the luxury market. At current stage, entry into this industry is relatively easy (Okonkwo, 2007), especially in the emerging markets where the brand war for market share is still fiercely ongoing. b.The threat of substitutes Due to the low copy cost and easiness to sell, luxury brands are widely counterfeited. It is estimated that over 80 per cent of the faked products are from Asia, particularly from China, and then distributed worldwide (Chadha & Husband, 2006). With the improving technology and workers skills in China, the quality of counte rfeit products are not so obviously inferior to the original ones as they used to be. Moreover, the worldwide distribution chain is getting more and more sophisticated despite the combat of the government and the luxury brands. c.The power of suppliers When it comes to the production of luxury products, there is high level of quality and exclusive designing involved which are the main factors for success and attracting 8 customers. In order to accomplish this, the organization needs the combination of highly trained workers and also premium and only top notch input materials when they create, produce, and market the product. In the case of LVMH, they need to establish and maintain tight relationship with their suppliers to ensure that they always receive high quality materials and designs (LVMH, 2010).Besides that in the luxury goods market, luxury apparel and accessories have been categorized by factors such as exquisite craftsmanship together with high quality and design, therefor e the producer of the brand cannot outsource the production processes to other countries other than the original country from which the product was recognized internationally. This is why, the power of suppliers in the luxury goods market can be classified as medium to high, depending on how much input that is received by LVMH. . The power of buyers In the case of LVMH, their buyers are the many retailers in the market which can range from small to large companies. The market players in this sector are the manufacturers such as LVMH. The buyers can push for a strong bargaining position when there are more and more players in the retail market. This industry that LVMH are involved in can offer a wide range of fashion products and also, a wide range of functional classes within the market such as styles, material, logos, and so on.When a particular brand has become a strong and well known brand, the power of buyers will be decreased and retailers have no choice but to provide the wish es of the end user. Besides that, a new trend that has been popular with some major companies who started erecting their own stores, which is known as forward integration (Chadha & Husband, 2006) . e. Competitive rivalry Some of the big conglomerates that are the competitors of LVMH in the global luxury goods industry are the Channel Group from USA, the PPR Group from France, the Burberry Group from UK, the Polo Group and Richemont from Switzerland.These 9 c e es e e c s e y c ce ec s ec s e s. e y ec ec e se ve ey e s ve ey y. ee c s e e e e ee s e s ec s s c s c e es e e ce c & s e s es e c e s es j ye s ve y c ye s s s e e e s. y c ve e es s ee y eve y e e ee s es ec e 2006 . 2 1 3 Lif cycl of th indust y The v y s chas s y s ese . e e y c s es y has ee shifte to appreciation for the product quality rather than a sense of pleasure from merely showing off. The new environment is becoming harder for some short-sighted companies to make long-term profit by just offering easy-to-sell products with historically fancy brand names (The Economist, 2009).Based on the characteristics of increasing rivalry, slower growth and some players e isting (Johnson, Scholes & Whittington, 2010), the luxury goods industry can be defined as in the shake-out stage. However, customers preference shift will not have a negative influence on the LV H, as quality, innovation and creativity have always been the long-term focus of the Group (The Economist, 2009). St St 1 Subju tion 2 St Sho off 3 St 4 Fit in St 5 St t of mon y W y of lif Indi Chin Tai an / South Ko a Hon Kon / Sin apo 10 Japan / US / W althy Eu op an count i s The spread of luxury can be illustrated in five processes.People in the US, wealthy European countries and different Asian countries are in the different stages of viewing luxury For Indians, affluent elites are the customers of luxury while the majority are buying mass products With Chinas booming economy, an increasing number of people are able to afford luxury, which is used as symbols of their social status For Taiwan and South Korea, since their earlier exposure to western brands after the economies took off in early 1990s, people buy luxury goods more for fitting into their lives than just showing off; Hong Kong and Singapore are even further on their way o integrate luxury as a way of life, like the US, wealthy European countries and Japan (Chadha & Husband, 2006). 2 1 4 Cycl of comp tition LV H Ent ant 11 Moet Hennessy and Louis Vuitton s merger into LVMH in 1987 inspired the establishments of two other French conglomerates PPR and Richemont. The three companies are generally referred as the big three in the luxury industry (Chevalier & Mazzalovo, 2008). PPR is not as pure a luxury company as LVMH, as it has other businesses like department stores and book and consumer electronics retailing.Since margins in the luxury market are more attractive, it is very likely that PPR will sell the other non-luxury businesses (The Economist, 2006) . Compared with LVMH, Richemont is more relying on the watch and jewelry sector, which is the most severely affected category in case of economic crisis (The Economist, 2009). LVMH s traditional strengths are in its wine & cognac and fashion & leather goods lines. With Bernald Arnault s acquisition strategy, the Group has been kept expanding into other business lines and international markets.It can be expected that the war between the big three will be how smartly they deploy diversified brands in the future. World-renowned but still independently run brands like Armani, Chanel and Hermes are very likely to be the next targets. 2. 2 Strategic capabilities 2. 2. 1 Resource categories a. Physical resources By 30 June 2010, LVMH has 2,468 retail stores worldwide, a 4. 1% expansion rate on the previous year (LVMH, 2010). Inner decoration of the stores reflects the LVMH traditions and the emotional buzz offer customers unique experience of purchasing luxury and the attention they need ( Chevalier & Lu, 2010) .Unlike some of its competitors, LVMH insists on the high standard of its store decor and product display like everywhere else when it approaches the Chinese market, where counterfeiting is big problem (The Economist, 2009). 12 b. Financial resources LVMH s long-term strategies of building the heritage culture and brand loyalty support the sustainability of financial management performance of the organization. In the regression year 2009, LVMH, which are luxury goods, generally, supposes to have a big effect by low confidence of consumer spending. However, in 2 009, there was just only slight decrease (0. % in revenue and 7. 6% for the profit) in the revenue and profit for LVMH compared to that of 2008 (LVMH, 2009). Furthermore, in the first half of 2010, LVMH can pick up the advantages of economy recovery and perform very well. The revenue and the profit of LVMH were 9,099 and 1816 million Euros, which significantly rise 16% and 33%, respectively, compared to the same period in (LVMH, 2010). There is also the dramatic decrease in the cost of financial debt by 27% compare to the same period in 2009 (LVMH, 2010. ). The fixed assets (tangible and intangible) of LVMH are worth 20. 2 billion in 2010 (LVMH, 2010).Moreover, As of June, 30, 2010, LVMH s credit facilities went over 3. 9 billion Euros which 3. 8 billion Euros w ere the undrawn amount (available) (LVMH, 2010. ). LVMH can confidentially continue to invest in the potential projects with these large financial resources. c. Human resources LVMH used to adopt human resource policy applied to every individual country, but from early 1990s, the Group found having a global standard HRM system helped it to achieve higher effectiveness and efficiency. This new approach, regarding human talent as a world pool, creates an international working environment for LVMH.Besides the requirement of matching with LVMH s corporate culture, the more important determining factor in recruitment has become whether the candidates can bring about something new to the company (Business Europe, 1993). The common HR rules encourage cross-border mobility (normally once every five years) that is important career path within LVMH. Moreover, LVMH has been involved in the partnership with top education institutes in order to bring the potential talents into the organization (LVMH, 2010). 13 d. Intellectual capital Building a luxury brand is a complicated task more han just catching people s attention. The success formula of brand building by Bernard Arnault, LVMH s CEO, is unique positioning of the brand building on its history and the right designers to express the brand values, plus strict quality and distribution control and creation of marketing buzz (Chevalier & Lu, 2010). 2. 2. 2 Core competencies According to Bernald Arnault, CEO of LVMH, high quality of the products, strong appeal of the brands, and rigorous activities of the Group are LVMH s main advantages that make it stand out and s ecure market share (Business Wire, 2010).There are four key elements of LVMH s success formula product, distribution, communication and price. LVMH has done a fantastic job on the first three elements supporting the high-end price which identifying the extreme value of the product and differentiate its brand from the others. For decades LVMH's formula has worked amazingly: customers are seduced by beautiful status-symbols, perfect shops and clever advertising (The Economist, 2009). 2. 3 Culture and strategy 2. 3. Corporate values and culture Corporate values, usually written down as statements, are the most visible reflections of a company s mission and strategies (Johnson, Scholes & Whittington, 2010). In order to generate the unifying corporate culture of the diversified organization, company need to provide the effective leadership, defining goal and creating the set of values and beliefs. It might be very difficult for the diversified multi-business organization which has many d ifferent businesses like LVMH to crate the unifying corporate values culture (Grant, 2005).However, with the great attempt, LVMH has successfully created the five values, which are respectively (LVMH, n. d. ): Be creative and innovate 14 – Aim for product excellence Bolster the image of our brands with passionate determinat ion Act as entrepreneurs Strive to be the best in all we do 2. 3. 2 The cultural web a. Symbols Louis Vuitton is most famous for its Monogram series. The delicate Monogram pattern was created to prevent counterfeiting at the beginning, but quite ironic that the series are the most counterfeited among all the luxury products.The over 100-year-old iconic series are varied by Mac Jacobs and other creative designers every season, coming out with new forms like graffiti, ch erry pattern, new colors and materials, etc (Chevalier & Mazzalovo, 2008) As Bernald Arnault said, this is to protect the overexposure of the signature Monogram print (The Economist, 2009). b. Organizational structure and power structure LVMH group are originally French and most headquarters of the firm are in French. However, the organization strongly believes that multi cultural management needs to be applied.LVMH s kingdom consists of 5 main business sectors (as mentioned in the introduction) which each group is the combination of the young and old strong brands. Moreover, the independent brand management which translated from the unique culture of each brand help s organization to generate its typical structure and enhances the potency of individual brand (Gooderham & Nordhaug, 2003). There are more than 50 renown ed brands in LVMH s Kingdom and each company has its own president, CEO and management team who responsible to deal with its subsidiaries directly.Furthermore, the company has a decentralized structure which supports the growth and characteristic of Luxury brand and company also applies the autonomous management by geographic between each destination such as Europe, Japan, Asia and America. The organization structure support company s fast growth by enhancing the level of innovation, control power over distribution and promotional 15 strategies (Gooderham & Nordhaug, 2003). c. Control system LVMH is using the multidivisional structure to have a better internal control (Hitt, Ireland & Hoskisson, 2009).Also, the decision to enter into the selective retailing market in 1999 supported LVMH to reduce the problems of distribution control . LVMH also supports each brand and employee with the autonomous management which allow them to enhance the level of creativity and adaptability management in different market (Gooderham & Nordhaug, 2003) . Moreover, Bernald Arnault acknowledged his success lied in his management techniques. He insisted on giving designers complete freedom from financial or marketing concerns to apply their creativity.But when it comes to the manufacturing stage, the process control system is as strict as militant to ens ure the Group s profitability (LVMH brand for success, 2002). 3 Strategic choices 3. 1 Corporate level strategy At the corporate level, LVMH s structure is different from a typical conglomerate. The group expands horizontally and vertically in both backward and forward integration. Horizontally, LVMH has well-established itself in the five main business lines by gradually integrating and possessing some strategic business units (SBUs) since the new group came into being in 1987.Vertically, it integrates a centralized laboratory for cosmetics research and purchases media companies for the best effects of its promotion (Rugman, 2005). 3. 1. 1 Value-added by corporate parenting Good corporate parenting can add value to a scope of businesses offering different products and services that may share few common resources at the operational level. LVMH s business lines range from wines and spirits, to fashion and leather goods, to 16 selective retailing.Each individual business groups do not have many common resources or capabilities, but they are benefiting tremendously from LVMH s corporate parenting, like receiving support in the classic brands and having creative designers involved (Johnson, Scholes & Whittington, 2010). LVMH s Half Year Interim Report (2010) stressed the Group s priorities will be directed to the most profitable brands with substantial innovation and marketing support, namely Louis Vuitton, Moet Hennessy in drinks, TAG Heuer in watches, Christian Dior in perfumes and cosmetics, Sephora and DFS (The Economist, 2009).The economies of scale give the Group synergy benefits like being offered favorable prices for advertising, property leasing and credit card fees. 3. 1. 2 Diversification Diversification is a strategy that takes the company beyond its existing products and markets. LVMH has a highly diversified product portfolio, notably Louis Vuitton, whose momentum is strong enough to offset the Group s profit losses in other lines and keep the overal l revenue positive (The Economist, 2009). It could be regarded as a combination of product development, market development and market penetration (Johnson, Scholes & Whittington, 2010).In terms of product development, artistic creativity and technological innovation both contribute to the Group s success, particularly in the cosmetics business line, which highly relies on the up-to-date R (LVMH, 2010) 3. 1. 3 Portfolio management There are over 50 renowned brands under LVMH s portfolio, each of which has its unique history and brand culture (Gooderham & Nordhaug, 2003). Among them, the most prestigious and could say timeless brands are: Chateau d'Yquem (founded in 1593) Moet et Chandon (founded in 1743) Hennessy (founded in 1765) Guerlain (founded in 1828) 17 –Louis Vuitton (founded in 1854) Acquisitions normally can alleviate competitive rivalry by reducing the number of players in the market and integrating them under one umbrella (Johnson, Scholes & Whittington, 2010). Ber nard Arnault, the CEO of LVMH, is well known for his constantly aggressive strategy of acquiring smaller fashion brands with established reputation but less impressive business outcomes and incorporating them into the LVMH portfolio. In the next few years, LVMH is expected to take advantage of the recession and have more favorable acquisitions (The Economist, 2009).Brand power of the French luxury-goods conglomerate is enforced by reaching more customers through these acquisitions (Moffett & Ramaswamy, 2003). One famous example is the acquisition of Fendi in September 1999. When facing both tenders from Gucci / PRR and LVMH, the Italy-based fashion brand sold itself to the latter because of trust in the management capabilities of LVMH s executive teams. 3. 2 International strategy One of the famous global brands in the world is LVMH. Although it is not as big as TESCO, it is successful because of its groups. Its strategy is more flagship than TESCO.The strategy can be defined as an integrated distribution network. It is dynamically trust in many non- business foundations through competition world (Girod & Rugman, 2005). Structuring the bridge between traditions, modern, creation and innovation by supporting art in cla ssify around the world, is LVMH s mission (Preiholt & Ha? gg, 2006). It seems LVMH has two types of strategies. The first one is to impose increasing number of sales to make obvious for shareholders which there is a harmony between luxury products and four elements such as: eternal, contemporary, quick rising and making more profit.The second one is an opportunity of rising in future (Preiholt & Ha? gg, 2006). 18 3. 2. 1 Market entry strategy and entry mode The most important strategy which is used by LVMH is buying other famous company in luxury field. Market can be more controlled by this action. According to this strategy, famous brands were selected by LVMH. The most important points of selecting relates to the high quality (Ireland, Hoskisso n & Hitt, 2009). Three main things are noticed by LVMH managers. High price, more controlling strategy and arranging franchise are points to get the goals (Hines & Bruce, 2001).LVMH fallows to keep extending its market without afraid of hard situations for setting up the stores there. As an example in first attempt for entering to Chinese and Japanese market, it was not acceptable by people because they didn t have any idea about luxury products and they preferred to follow their traditional products but now LVMH has many stores around China and Japan ( Bloomberg businessweek: Louis Vuitton's Life of Luxury, 2007). As mentioned before considering all features of trading and ability to control them are reasons to be successful in entering to new market ( Bloomberg businessweek: Louis Vuitton's Life of Luxury, 2007).For example in Japan concerning about all elements is important for customers also in France value and to be modern is very important. So LVMH is considered in all of the aspects which are important for different countries ( Bloomberg businessweek: Louis Vuitton's Life of Luxury, 2007). 3. 2. 2. Market selection According to LVMH mission they need the strategy to enter to worldwide market. Their goal is enter to the market of many luxury purchases. Due to this goal they are looking for customers priority in different countries.According to this priority, the different product will be matched with customers need. Also they tried to find out that which costs can make customers happy which can be acceptable by LVMH mission. It means that they planned to fit the products and prices according to the market which wants to be entered. In another word, LVMH marketing managers 19 choose the products and adapting price according to capabilities of the country. LVMH as a luxury brand was limited to specific countries which has strong economic. The main problem for LVMH was, it is very dependent on some countries such as France, Japan and USA.Using financial ana lyse, make it up to date and controlling the market could help it to have a better situation than other competitors (Spulber, 2007). Creating the finance economics can organized by LVMH when it buy another famous company (Ireland, Hoskisson & Hitt, 2009). Creating the finance economics can organised by LVMH when it buy another famous company (Ireland, Hoskisson & Hitt, 2009). It was the only luxury companies that could survive from economic crisis which happened recently. According to the reports the income of LVMH in 2008 was EUR 17 million which showed the rising income compare to 2007 in range of 4. % (I am emily, 2009, November10). 3. 2. 3 Difficulty of imitation The main problem for some countries is their products can be faked easily but LVMH product cannot be imitated. LVMH is one of the 500 traders which entered to the international growth market. It is attended into worldwide leadership and differentiation strategy. LVMH based more on outside associate. To against with less legality and organized in other countries are in its nature. Its activity is beyond of having a competition with other luxury brand; it also wants to enter to the market which is risky because of any imitation industry that have no certificate can be trustable.LVMH makes more profit for industries which have license and other collaborators to attack to imitation industries, since they started to enter to global market (Spulber, 2007). Also they have their own distribution, so they can control everything easily. Although it has more costs for company but makes to be organized their kingdom easily. LVMH consider about the strong partners. Partners were chosen by the good quality (Spulber, 2007). With no doubt, Arnault can be named as a smart CEO to organise growing company with high benefit with ability to create new things (Wetlaufer, 2010). 0 3. 2. 4 Drivers for internationalisation The significant point for LVMH is that they look deeply into the drivers keys. The most important dr ivers for LVMH can be significant by innovation. Nowadays, new and modern products are more attracted than old ones. LVMH h as special luxury lab to work on innovation parts. In general speaking, rising for demanding luxury products helps LVMH to have more income because they concern about this point and try the best to be well known as an innovation company (I am Emily, 2009, November10). 3. 3 Business level strategyThis part will mainly present the business level strategy of Louis Vuitton, the iconic brand under LVMH, which accounts for 60 per cent of the Group s revenue (Hazlett, 2004) and has a profit margin of 40 to 45 per cent, the highest among all the luxury brands (The Economist, 2009). According to Millward Brown study (2010), Louis Vuitton is ranked the world's 29th most valuable brand, with a value of USD 19. 78 billion. Customers have a common mindset that they tend to invest in the products of best quality and value when they have less money, like a Louis Vuitton handb ag (The Economist, 2009).As Yves Carcelle, Chief Executive of Louis Vuitton , said Vuitton was always able to expand market shares during crises. Sustainable appeal of the brand lies in its differentiation-based advantage. Firstly, stick firmly to the full price to maintain the brand value. Louis Vuitton is the only luxury brand whose products are never sold at any discount. Secondly, pick its store locations rationally and professionally. For example, if Vuitton is about to open a new store in the department, its staff will set up a scale to measure the customer flows and pick the best locations based on statistics.Thirdly, strictly control the production in its own factories. On one hand, approaches in the automobile industry are introduced to streamline the procedures and costs and workers can be easily mobilized from one product line to another in case of demand change. On the other hand, there is high 21 level of quality control over the finished products. Fourthly, never grant licensing to outside companies and operate its own inventory. In this case, the Vuitton brand can be kept high-end and direct control over inventory ensures no space competition from other brands. 3. Innovation and entrepreneurship 3. 4. 1 Product & process innovation According to Amault the CEO of LVMH ( Group mission and values, 2010, n. d. ), LVMH s success is due to their long-term creativity and products innovation. It is obvious that LVMH has already put five things as priorities. Firstly, LVMH should be innovate and creative. Secondly, LVMH should produce the excellent products. Thirdly, LVMH needs to build up its famous brand image in people s mind. Fourthly, the leader should pay attention to the entrepreneurship and relationships. Finally, every employee in LVMH should ry their best to do everything. LVMH s Art de Vivre has already represented the western fashion. In addition, LVMH s products mix the tradition, innovation and culture value which give people a dream and pa ssion. 3. 4. 2 LVMH s diffusion S-curve It is clear that the luxury industry has been increased rapidly. Although people have large demand for regular retailing industry, the luxury industry also increased very fast. According to Amault (2009), in spite of the economic downturn, LVMH s sales have increased very stably. In the early 2010, LVMH s sales have already reached 4. 7 billion. The company also performed well in Asia countries. In order to stimulate consumption LVMH has changes their attitudes in luxury industry. For example, LVMH hired many famous designers to develop their products and avoid overexposure; these help LVMH reach a high velocity. 3. 4. 3 Portfolio of innovation options In order to face the changes and challenges, people should focus on the influence of the deployment of option patterns (McGrath & MacMillan, 2000). Therefore, LVMH s 22 success is the company largely subject to the scouting options.It is very difficult to catch the uncertain reasons like market, world s economic and politics. However, LVMH as a leader in luxury, the company has about 60 famous brands such as Louis Vuitton, Christian Dior and TAG Heuer SA. It covers like wines, fashion goods, perfumes and watches. Moreover, according to McGrath and MacMillan (2000), in order to face the challenges and find the potential markets, LVMH should pay attention to the scouting options and this way can be seemed as entrepreneurial experiment . 3. 4. 4 Entrepreneurship According to Time Magazine, Bernard Arnault is the top 100 influential people in the world.Because of LVMH s famous brands which include Louis Vuitton, Fendi and Dior, everyone have interesting with the chairman of LVMH and how the leader made the company very big. First of all, Bernard Arnault s kind of fashion was inspired from his creative talent. He brought his talent to the luxury industry and he has his own new vision in luxury market. This is why he can build his fashion country . Then, Bernard Arnault has stro ng entrepreneurship and business acumen. For example, in the 1990s, he began to expand his company and buy other luxury names such as Givenchy and TAG Heuer.Although many people criticized his business strategy, Bernard Arnault s LVMH has been the most famous luxury company all the world. Next, with the success of LVMH, Bernard Arnault began to raise his creative talent. Many businessmen don t pay attention to this. However, Arnault believes that a good luxury company should have many managers who love and better understanding of fashion and arts. Finally, Arnault has the ability to do the business rely on aspects like the creative and financial. He focuses on the creativity must be commerce and when he sells his products he pay attention to financial discip line. 23 4. ConclusionLuxury is a special industry, as the higher price mark-up, the more appeal to the customers. Although the US, wealthy European countries and different Asian countries are in the different stages of luxury s pread process, in the long run, people will be sophisticated enough to view luxury as a way of life. LVMH s resources are: physical high standard stores, financial sustainable financial management, human brand history and mobility-oriented international talent pool, and intellectual craftsmanship, etc. According to Bernald Arnault, the CEO of LVMH, the Group s core competencies are product, distribution, communication and price.LVMH has done such a good job on focusing on the f irst three elements to create an appeal so that customers forget about the prices. LVMH s corporate values and culture of pursuing creative design and sticking to excellent product quality are the foundations of its strategies. LVMH s corporate level strategy is characterized by value-added corporate parenting, diversification in terms of product and market, and excellent portfolio management. We can expect competition at corporate level in the future will be brand wars how to deploy different brands more str ategically.As for international strategy, origins of high income people rather than particular countries determine LVMH s entry into those markets. In most cases, the approach LVMH chooses to enter a foreign market is usually through acquisitions of reputational domestic brands. At the business level, the differentiation strategy of Louis Vuitton, LVMH s most famous star brand, is analyzed. The Vuitton company is trying to protect the brand value by sticking firmly to the full price, picking store locations professionally, controlling the production strictly, and managing its own inventory.Besides the three kinds of strategies, innovation and entrepreneurship are also important drivers for new growth of the companies. LVMH is committed to constant product and process innovation, and this is closely related to the entrepreneurial spirits of its CEO Bernald Arnault. 24 According to LVMH s 2010 fourth quarter report, the Louis Vuitton brand alone contributed over 60 per cent to the Gro up s annual growth, which demonstrated the Vuitton brand s potent ability to offset risks in a portfolio.However, the Group s heavy reliance on the Vuitton brand also worried some analysts that what will happen to the Group suppose the Vuitton brand loses appeal to customers one day. However, based on the evidences collected, we are able to believe the insight of Bernald Arnault, who is an optimist of collecting brands. Part of the revenues from the Vuitton brand have been used to support other smaller promis ing brands, which might grow into another Louis Vuitton in the future. 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