Clinical Assessment of a Patient with Compound Myopic Astigmatism and Convergence Insufficiency Essay

Abstract Myopic astigmatism is a specific type of astigmatism wherein the light focuses before it reaches the retina. This condition is classified as a combination of astigmatism and myopia, or nearsightedness. If both principal meridians are nearsighted, but one is more pronounced than the other, it is considered to be a compound myopic astigmatism. Convergence Insufficiency on the other hand is a condition wherein the eyes are unable to turn inward or converge properly during near work which causes a difficulty to focus normally due to the deficiency in eye teaming which creates a strong tendency for the eyes to drift outward. Convergence insufficiency is likewise associated as exophoria at near. Keywords Myopia, Astigmatism, Exophoria, Convergence, Convergence Insufficiency Introduction Myopia or nearsightedness, is a refractive error, which means that the eye does not bend or refract light properly. In this sense, the light that enters the eye focuses the image in front of the retina. In cases of myopia, a person is to see things at near with much more clarity than fixating at distant targets. Myopia occurs when the eye is has a longer axial length than normal would have or an eye that has a cornea which is relatively steeper than an emmetrope’s. The degree of myopia or nearsightedness affects the eye’s ability to focus on distant objects. People with high amounts of myopia can see clearly only objects just a few inches away, while those with lower amounts of myopia may still see objects at a distance with enough clarity. Astigmatism on the other hand is a condition wherein the rays of light entering the eye focuses on different areas, in the case of Compound Myopic Astigmatism, both the power meridian and the axis meridian forms its focus in front of the retina. Astigmatism usually is caused by an irregularity in the shape of the cornea, which instead of the cornea having a symmetrically spherical shape, it is shaped more like a football, with one meridian being curved either steeper or flatter than the other meridian. In some cases, astigmatism is caused by the irregularity of the shape of the crystalline lens inside the eye. This type of astigmatism is called lenticular astigmatism, which has a different nature from the more common corneal astigmatism. As a result of either type of astigmatism, a person’s vision for both near and distant objects appears to be either blurred or distorted to a certain extent. Objects seen through the eyes of a person with astigmatism may either seem to be too tall, too thin, too wide, too short or simply having any alterations in terms of apparent size. Convergence insufficiency is a sensory and neuromuscular anomaly of the binocular vision system, characterized by a reduced ability of the eyes to turn inwards or towards each other which causes the eyes to sustain convergence. Symptoms of convergence insufficiency include diplopia or a doubling of vision and headaches when participating in near work. Individuals experiencing convergence insufficiency may complain that they have a noticeable difficulty concentrating on near work such as reading, using of the computer, etc. and can observe that objects such as words in a book seem to blur out after prolonged periods of reading or if reading when tired. People with convergence insufficiency may possibly have normal or 20/20 vision. To diagnose convergence insufficiency, certain tests and procedures may be done, such as; taking of a medical history, this may include questions about problems a patient would have with focusing, blurred or double vision, headaches , and other signs and symptoms. Likewise the near point of convergence (NPC) of a patient should be measured. An assessment of positive fusional vergence should also be done to determine the patient’s reserve in terms of convergence. Convergence insufficiency may be managed with convergence exercises determined by optometrists. Some cases of convergence insufficiency are successfully managed by prescription of eyeglasses, sometimes with therapeutic prisms incorporated in the prescription. Case Report A 17 year old female student was subjected to an eye examination last September 6, 2013 at the Philippine Sports Commission – Rizal Memorial Sports Complex. She complains about blurring of vision with objects at far for both of her eyes and likewise complains about headaches in the frontal area when doing nearwork which she complains as bothersome due to the headaches disabling her from reading for a long time. The patient’s last eye examination was done about 2 years ago she was prescribed with eyeglasses with a refractive power of -4.00 sph = -1.00cylx180 for the right eye which gives her a visual acuity of 20/70 or 6/21 and -3.50 sph = -1.00 cylx180 which also gave a visual acuity of 20/70 or 6/21. Her naked visual acuity for both eyes is 20/200 for far and 20/30 for near while pinhole visual acuity is measured at 20/25 for both of her eyes. The patient’s refractive error as measured through an auto refractometer was OD -6.00sph = -1.50 cylx180 and OS -5.50sph = -1.50 cylx180 which was further refined through subjective refraction to a refractive correction of OD -5.50sph = -1.50cyl x180 and OS – 5.00sph = -1.50cylx180 which gave her a visual acuity of 20/20 for both eyes. Alternate cover testing was also performed and a small amount of exophoria was revealed when the patient was fixating at a distance and likewise exophoria was also observed when the patient was fixating at a near object. Due to the unavailability of other materials necessary for a comprehensive eye examination in the field, further evaluation and investigation was not performed. Differential Diagnosis Astigmatism, Accommodative Insufficiency, Convergence Insufficiency Discussion In terms of refractive error, Compound Myopic Astigmatism can be observed with the patient’s final prescription. But analyzing and comparing the patient’s chief complaints from the results obtained from the eye examination there is a clear inconsistency between the frontal headache and the compound myopic astigmatism. It is known that frontal headaches are commonly associated with hyperopia rather than myopia but frontal headaches can also be associated with accommodative insufficiency and convergence insufficiency. Accommodative insufficiency could easily be ruled out considering that the patient is myopic and her refractive correction has increased more towards minus therefore nuancing out a further need to accommodate. This leaves out convergence insufficiency as a suspect, the symptoms have been aligned in terms of the headache, the difficulty in reading for a long period of time and the observable exophoria for near and far. Management Subject the patient to a comprehensive eye examination to assess her visual system and to verify the prognosis of convergence insufficiency.

Lead and Manage Group Living for Adults Essay

I work in a residential care home and as much as we try our very best to individualise and personalise care plans, bedrooms, give freedom of choice wherever possible, the home still has barriers to full freedom and because of the shared living space, it can be difficult for the residents to have their own space. The decision to come into a residential care setting usually means that the resident needs that extra support and wants the extra company and reassurance that being in a care home gives. Person centred care is set to enable everyone to live as independently as possible, but the reality is, people need care. Residential care homes and sheltered living accommodation have improved greatly when we compare the institutions of many years ago, the asylums, where people with all sorts of disabilities were held together. There were numerous reports of abuse in such places, which led to them closing and a more community style care service was put in place. Now there are many different options for the elderly, there is a lot of elderly people in Wales that are maintaining their independence at home, with a care package. Carers from an agency call several times throughout the day, night, depending on what the social services think they require, or what they can afford privately. As much as I think this is great, as it must be heartbreaking to give up your family home, it concerns me, as I hear horror stories of the elderly being left for several hours, maybe falling, sitting in their own urine or excrement and having limited choices throughout their day as to when they can get up out of bed, go to bed or even eat. The carers have allocated time slots each day and are allowed only a set time with each house visit, and then in-between they might be alone for long periods. I know that such people can have a lifeline, which they can press to get assistance, the lifeline reaches a call centre and the call centre will then contact the named people on their list to go and see if all is well, or might send an ambulance if they feel the need. Lifelines are a great idea, if they are used correctly, I have heard of several who leave theirs at the side of the bed, they either cannot reach, or fall whilst visiting the toilet and are unable to get to it. I have also heard tales of people pressing their lifeline to get some response off someone, someone to talk to, some company, as they are lonely or even fretful during the lonely  night hours. Sheltered accommodation is a great idea, each person has their own individual flat, often with a main front door with different door alarms on so they can call on the person they are visiting and go straight to see them. These flats are contained, small, easy to get around and keep clean, they can have call leads in several rooms in case of an emergency, they can cook for themselves if they so require, make themselves tea, watch what they want on the television and live quite independently. There used to be a warden present 24 hours a day, well almost, a 9-5 day shift, and then sleep in, during the night to be available in case of an emergency. Of course now there are so many cutbacks that live in wardens have been stopped throughout Wales, possibly elsewhere. There are now teams of 3 or 4 wardens that look after several establishments, they take turns to go around each unit, calling on the residents to ensure they are ok, they are usually there 9-1, half a day, then if the residents have any issues they must use their lifeline, or the emergency chord, which instead of being linked to the warden is now linked to a head office, who will contact relevant help for the resident. A residential home, I can only speak of ours, I have worked in 2 other nursing homes as well as the residential home I currently work in. Our home is homely, not clinical, it has carpet, not laminate or tiled flooring and it has a beautiful garden and outlook, large communal areas, including a big conservatory and lounge space split into two sides. The home is decorated tastefully for the residents, with flowers and plants and pictures, homely but not cluttered, the residents bedrooms are personalised by themselves with their belongings and choice of dà ©cor. The home does its best to treat every resident in a person centred approach, but it can be difficult to meet all needs accordingly. There are set meal times, which can be flexible to a point, they are offered alternative menu choices, but it isn’t always convenient for residents to eat whenever they so chose to. I must say that the residents are offered several snacks and drinks throughout the day so are very rarely hungry. The residents are able to come and go to their rooms as they wish, if they are safe to do so. The residents have a choice of communal area, or to go out and sit in the garden if they wish. Their meals are served in a communal dining room, but there are a few ladies that prefer  to sit alone in the communal areas to eat their meal, which is fine. There are carers available 24 hours a day, to assist as little or as much as needed for each resident, they are assisted with personal care, if required, with meals and much more. Throughout the home there is a nurse call buzzer system, if a resident needs help they can just buzz the buzzer, which is linked to a panel that shows the care staff where the buzzer has gone off so they can go and assist in whatever way needed. The home has a lift and a chair lift, aids in the bathrooms, toilets and showers, a laundry facility, a kitchen, domestic assistants, etc. I imagine many people compare the residential care setting to the hotel model of care, where residents come into care and do nothing much for themselves anymore. Maybe a lot of that is true, but not because they are not allowed to do anything for themselves, but because many chose not to, they are old, tired and have health complications and restrictions and want a rest. There are a few residents who like keeping busy and love to help with tasks around the home, laying tables, wiping tops, collecting cups, folding napkins, which is fantastic, but there are more that aren’t interested in any domestic chores. Housing with care for later life, a review written for the Joseph Rowntree Foundation, suggests that there are so many different levels of housing facilities and choices available as a result of how care has developed in the UK over the last 20 years, with things changing to meet the needs of the tenants. Housing with some care is the most popular option that social and health care professionals like to choose for as many as possible, it seems to be the most popular as it is the most independent way of living for the elderly, with some level of support and security if needed. Extra care housing, which are establishments that provide a meal, additional services , barrier free environments are also known as very sheltered housing, I know very little about or I don’t know of any in my area, but they sound great. (Oldsman 200, Baker 2002) have written about such housing. There isn’t much difference between them and residential care homes, except they have their own front doors and are called tenants or owners, they can go and mix with other tenants in communal areas if they wish and are provided with a meal and the use of communal facilities or assisted technologies if they want them. It is important to consider an individual’s safety as well as their own choices, safety and security are as important as freedom of choice, as there are many elderly people that are extremely vulnerable and think that they are able to do much more than they can. Take for example Mrs H in our home; she loves to sit in her room alone for hours at a time. She is unable to walk, only transfer from chair to chair, to bed etc, she is a really bad epileptic and once she has a fit, it is difficult for ambulance staff, when called to bring her out of the fit, she usually requires hospital assistance as she has trouble breathing during her fit. She asks to go to her room all the time, but it is a huge risk and Mrs H has severe mental health issues after a brain bleed has been deemed to not have capacity to make safe decisions for herself. Several times when she has fitted, the care staff have seen it start in the lounge as they pass by and have managed to get to her in time to put her in the recovery position and remove anything that might cause her more harm Mrs H doesn’t understand when trying to explain to her why she is unable to go and sit in her room for hours at a time, but does go up for shorter time periods. It is important that any care setting is tastefully decorated to suit the residents that live there, to look homely, welcoming, and familiar, kept clean, and refurbished whenever necessary. Residents will feel more positive if they are in a pleasant environment, with a nice outlook, with comfortable furniture to sit on, with accessible amenities they can use themselves, a TV, drinks machine, books, music equipment, suitable lighting etc. Legal requirements have made a huge impact on care offered to the elderly today, when we look back at how things have changed, we have definitely come along way, but I would definitely not say we are there yet, as things are always changing, people change, and we need to also. Individualistic consumer led approach to care in the 80’s and 90’s led to the government looking at decreasing the dependency culture, to enable people to be as independent at they could. There have been many changes over the years with the financial support given to those with various needs, which enables them to choose their level of care and support and where they wish to live etc. The 1989 Caring for People white paper led the way for care in the community, as well as the NHS Community Care Act 1990, which promoted independent living for people with a more flexible care  service. In 200 the Care Standards Act came into place, they are basically in place to regulate all care facilities to ensure that everything within their power is being done to a satisfactory level. Along with the regulating, they also inspect care settings and have power to make big decisions and requirements for each place they visit, as a result of this Act we now have the National Minimum standards to adhere to.

Greg Beato: Amusing Ourselves to Depth

GREG BEATO: Amusing Ourselves to Depth 1. Tim Keck started The Onion because â€Å"he wanted to create a compelling way to deliver advertising to his fellow students†. â€Å"Part of the first issue’s front page was devoted to a story about a monster running amok at a local lake; the rest was reserved for beer and pizza coupons. † (389) This shows that the newspaper’s direction towards â€Å"fake news† and advertisement. 2.The Onion is one successful newspaper because it prints 710,000 copies of each weekly edition, 6,000 more than the Denver post; have 3000 local advertisers; attract 2 million online readers a week and boast a 60% increase in their print circulation. (389-390) 3. Beato choose the title â€Å"Amusing Ourselves to Depth† because it warns the fate that would befall us if public discourse were allowed to become substantially more entertaining (390), which is the opposite to what The Onion is doing. This suggests Beato is against this idea, and supports The Onion, that entertainment in news is good. 4.Beato mentions â€Å"America’s most informed citizens simply prefer comedy over the stentorian drivel the network anchormannequins dispense,† (390) to argue against Neil Postman’s notion. 5. The Onion focused on expressing a worldview of any kind and delights in crapping on pieties and regularly publishes stories guaranteed to upset someone by being completely honest. 6. Beato is not suggesting that fake news is better than â€Å"real† news but implying that by being honest, expressing a worldview of any kind and not afraid of offending people with a pinch of entertainment is better way to convey news.

Target Audience & Competition Essay Example | Topics and Well Written Essays - 1500 words

Target Audience & Competition - Essay Example Maslow’s Theory of Needs and its Application to Marketing In case where an individual worker like for example needs more money for meeting his needs it is obvious that he needs to work harder for doing so. According to Maslow there are physiological, safety and security, social, esteem and self-actualization needs that happen to be really important (Adair, 1996). By putting in the hard work the individual can try to meet his need and later can also put in the necessary effort and time to win the desired reward. Here we can also use the Expectancy theory where an individual worker puts in efforts to adjust his personal motivational levels to that of her or his colleagues. Maslow's hierarchy of needs identify five basic areas of needs that most humans experience. First is the physiological or the basic life survival needs then comes the safety and security need after that is the social need that includes belongingness and love after which comes the self-esteem and the fifth need is the self-actualization. Maslow found out that a person moves form one need to another after he has met a need. Like if he meets the needs at level one, then he moves toward the next, and then the next and so on. Maslow found out that decision making and human behaviour are motivated by one of any five need levels in the hierarchy model he presented. If we apply these needs to the marketing theory it will not be wrong to say that the marketers by effectively appealing to one of the motivational drivers can be really successful. The social and self esteem needs can be fulfilled by the marketers by using strong marketing campaigns and building a strong brand image. People are in search of recognition so if marketers fulfil this need they can always make good profit out of their businesses. Maslow's fundamental principles link marketing and human psychology. It is important for the marketer to find out the level of need which the customer is looking to meet, and then market the prod uct in a way that convinces him that he particular need will be fulfilled like that. Performing periodic evaluations of the marketing techniques as the target audience are not likely to stay static is very important. It is very important for the marketers to be aware of the place where Maslow's hierarchy of needs of the customer base is and the place where the product fits in. By paying more attention to this marketing can be more effective. Stages of the Consumer Behaviour Model and its Application to Marketing Researchers have proven that that motivation factors play a significant role in stages of purchasing process and possess positive influence on the internal factors that is the information search, alternatives evaluation, and post purchasing and purchasing. All these internal factors can have an impact on each other in positive direction and are strongly correlated. Consumer happens to be one of the very significant and complicated units of the marketing system. As many exter nal and internal factors impact consumer behaviour within this system, the measuring and evaluating of purchasing process proves to be comparatively difficult. Consumer behaviour is not as straightforward as the purchasing of a service or product by paying its price but at the same time it is a procedure that has post-purchasing dimensions. Understanding of the consumer behaviour in all the stage of consumer behaviour model that consist of recognising the problem, searching the information, evaluating the alternatives, purchasing and also

De young museum ( San Francisco ) Essay Example | Topics and Well Written Essays - 2750 words

De young museum ( San Francisco ) - Essay Example When the building was initially constructed, there were lacking tools and equipment that could be used for construction. The museum is an amalgamation of past and present designs and architectural excellence. This paper contains description of the museum’s construction and relevant details. De Young Museum (San Francisco) The M.H De Young memorial museum is the complete name of a fine arts museum situated in San Francisco but it is commonly known and called â€Å"De Young Museum†. This museum is located in the famous golden gate park of San Francisco. Initially the museum was housed in a fine arts building having the Egyptian style structure. The old museum occupied the area of approximately 1, 40000 square feet where as the new building occupies the area of about 292,000 square feet. De young museum was founded in 1895 and since then it is the hub of the cultural fabric of the city of San Francisco. Fine arts museum was an outgrowth of an exposition that took place in San Francisco in 1894. Different sorts of construction material were used to construct a splendid building of all times. Copper, wood, steel and glass were so beautifully used to merge the outlook of museum with surroundings of golden Green Park. Effort was made to complement the old hazardous building of the museum. Italian porphyry stone is used on the lobby floor of the museum. Fabric ceilings and wood flooring were used for designing the interior. The building was decorated with the images of hathor, commonly known as cow goddess. Museum was badly damaged by the earthquake in 1906 and it was closed for public. Concrete ornaments and large quantity of steel was used in museum’s construction (M.H. De Young Memorial Museum, et al. 184). De young memorial museum is great specimen of construction, engineering and architecture. Construction of such a building in those times without use of modern machinery was only possible by labor force and use of skills by the construction co mpanies. M. H. de Young Memorial Museum (Old Building) The M.H De Young memorial museum is the complete name of a fine arts museum situated in San Francisco but it is commonly known and called â€Å"De Young Museum†. The museum is the result of California midwinter international exhibition held in 1894. After the exhibition the museum was first opened for the public in 1895. The midwinter fair used to operate from January to July during that era. The exhibition of 1894 was held in the same golden gate park where the museum is situated now. De young was editor and proprietor of the San Francisco chronicle. The San Francisco exhibition was the idea of De young that resulted in the construction of great fine arts museum at golden gate park (M.H. De Young Memorial Museum 64). The M. H. De Young Memorial Museum in 1895 Since then the museum faced natural disinters and renovation of the museum is still a continuous process. The earthquake of 1906 badly damaged the fine arts buildin g and after words the building was demolished and reopened in 1929 in a Spanish style structure. The building was again declared a hazard as the ornaments decorated in the building began to fall in 1949. In 1972, De young fine arts museum was created as a separate entity. The museum aging faced a devastating earthquake in 1989 and building was again demolished and once again constructed at the same place in 2005. Since then

Organizational Ethics Essay Example | Topics and Well Written Essays - 2500 words

Organizational Ethics - Essay Example Businesses that operate ethically are assumed to have a lot of gains but it is not as simple as it sounds especially in an ever increasingly competitive environment. The leader has to make sure all the stockholder’s interests are taken care of and at the same time ensure all laws are adhered to and also act according to moral principles. The problem is; does the leader do what is right according to his or her opinion or what is right according to the moral standards of society? Sometimes these two views conflict and the leader have to make this important decision. This becomes more complex as the company becomes global due to diversity of cultures. Morality according to Fieser and Moseley (2012) guides what is permitted and what is not or what is â€Å"right† and what is â€Å"wrong†. However, it all depends on what moral theory one is applying. Understanding business ethics is important and as such this paper will focus on how various companies solve their ethic al dilemmas. This will be accomplished by using an example of a profit organization (Google) and a non-profit organization (United Service Organizations). First, the paper will give the profiles of both companies and the ethical issues they faced or are currently facing. Secondly, personal reflections on the ethical actions taken by the companies will be evaluated. This will be followed by a critique of these actions taken based on philosophical theories. Lastly, a brief summary of the main issues will be given. Company Profile: Google Google Inc is a global leader in the technology sector specializing in the search engine industry. It was founded and incorporated in 1998 by Larry Page and his co-founder Sergy Brin. It is a profit making organization whose mission is â€Å"to organize the world’s information and make it universally accessible and useful† (Google.com, 2013). It operates more than 70 offices situated in more than 60 countries and an employee base of more than 30,000 employees worldwide. Its headquarters are situated in Mountain View, California with various branches in the US, Asia Pacific, Africa, Europe, Latin America, United Arab Emirates, and Canada. It is a global company that offers services to both people and businesses. It is involved in offering search services, advertising, and cloud computing for businesses by offering products such as AdWords, AdSense, Google maps, blog searches, Gmail, scholarly papers, books, mobile content, chrome and translation. It started as a small company in a garage but through the years it has developed to become a dominant player in the search engine industry. This is through its aggressive acquisition strategy and new product developments (Google.com, 2013). The company derives its revenue mainly from advertising, websites, and hardware products. All these revenues are acquired through hard work as entailed in the company’s value statement â€Å"don’t be evil† (Google.co m). It has been experiencing a revenue and profit growth over the years as shown in the table 1 below. USD 2009 2010 2011 2012 Total Revenue 23650.56 29321.00 37905.00 50175.00 Gross profit 14806.45 18904.00 24717.00 29670.00 Table 1: Annual Data extracted from Google financial Reports. Most of this revenue comes from advertising and it is far above its competitors in the same industry such as Microsoft, eBay, Face Book, and Apple. Its sales growth of 15.48% year on year is above competitor’s average revenue growth of 6.45% according to CSIMarket (2013). The revenue growth of the various companies year on year is: Google 15.48%; Apple Inc 0.86%; eBay 14.1 %; Microsoft 10.17% and Yahoo Inc -5.22%. From these statistics, it is evident that

Introducing a line of bottled water Essay Example | Topics and Well Written Essays - 3000 words

Introducing a line of bottled water - Essay Example In order to differentiate within the market, the supplements would be developed so that the water taste was not changed, and through marketing to the segment of the population that is starting to experience minor ailments and issues that can be directly addressed through supplements. The segment would be the aging population that is 40 and over. Marketing will also have to be directed to a broader demographic through onsite marketing that is less specific to age. As the bottled water market has increased steadily since 1997, the potential for success is high. Introduction Bottled water has become a staple in Western society, a trend that stems from a variety of areas of concern. One of the reasons that bottled water has become a prominent resource for hydration is that the fitness industry has determined that a significant amount of water, usually defined by about 2 litres, per day is necessary for good health (World Health Organisation 2004: 486). Another reason that bottled water h as become more marketable in the last few decades is that public water, as in tap water, has come under attack for the purity and safety that it contains. As a result, a natural marriage between the health industry and bottled water has emerged in which diversification into the bottled water market makes sense for corporations that have health related products already in their product line. One company that has yet to develop bottled water is GlaxoSmithKline. Through the exploration of their current line of products and brands, along with an exploration of the overall market, the addition of a line of water to the GlaxoSmithKline product line would enhance the current product line as well as open up a new market. The brand name of the proposed new line of water will be called PURE with a supplemental line of text used to define which type of water is being offered. The line of bottled water would not simply be the one line of basic water, but in order to appeal to the chosen demogra phic, a line of water with supplements within them would increase the potential success of the line. Taking the example of waters such as Dasani by the Coke product line and Aquafina by the Pepsi product line, creating flavoured waters or water with minerals and supplements has shown to have success. The twist on this line of water is that all of the water will taste like water, but will have supplements that target the differing needs of those who are aging. GlaxoSmithKline Company Overview Formed in 2001 through a merger between GlaxoWelcome and SmithKline Beecham, the company holds its headquarters in Great Britain with most of its business being conducted in the United States. As a pharmaceutical leader, the company is a leader in respiratory, central nervous system research, diabetes and vaccines, with 2003 seeing pre-tax sales of more than 21.4 billion. Profits were approximately 6.3 billion with an investment

Celestial Seasonings Tea Research Paper Example | Topics and Well Written Essays - 250 words

Celestial Seasonings Tea - Research Paper Example specialty tea market by exceeding consumer expectations with: The best tasting, 200% natural hot and iced teas, packaged with Celestial art and philosophy, creating the most valuable tea experience† (Stone 3). The values of beauty and truth are its viewpoint in order to produce the highest quality of specialty teas through the use of the botanical products. To ensure the financial stability of Celestial Seasonings, the company decided to merge with the Hain Food Group and become The Hain Celestial Group. The Hain is a market leader of natural food products and a successful distributor of organic foods and personal care products. The company has a market capitalization of $1.05 billion with total revenue of $917.34 million. The reported revenue for this year is lesser compared to the revenue of the previous years (â€Å"Income Statement†). However, the company’s operating income as well as the position of financial statements is performing well. Also, the stock price performance for this year under the ticker symbol HAIN is increasing with a closing rate of 24.48. Celestial Seasonings is having a â€Å"50-percent market share in the herbal tea segment and 32-percent of the total specialty tea category† (â€Å"The Hain†). The Hain Celestial Group competitors in share market are General Mills Inc., Kraft Foods Inc., Nestlà © and Processed & Packaged Goods (â€Å"Competitors†). In the field of herbal tea segment, its major competitors are Lipton Tea, Bigelow Tea, Luzianne Tea, Twinings and Tetley, and all of these companies are fighting over the tea sales in America. â€Å"The Hain Food Group to Merge with Tea-Maker Celestial Seasonings.† All Business. All Business.com, 13 Mar. 2000. Web. 4 Nov. 2010.

The Future of Facebook Research Paper Example | Topics and Well Written Essays - 2000 words

The Future of Facebook - Research Paper Example The future of Facebook ultimately relies on what has happened in the past, and what is happening now. That is why, here, it will be examined: what has been the track record or history of Facebook; what the current state of Facebook is; and finally, perhaps most importantly to everyone, what is the future of Facebook. According to Carson (2010), Facebook was started in 2004 by Mark Zuckerberg, who was a student at Harvard (pgh. 1). He first made the social networking site as a sort of on-campus, online student look-book in which some of the students in Harvard’s student body were analyzed. Basically, the site was a success. With some of his associates, Zuckerberg dropped out of Harvard to develop his site. There was some internal haggling over who had developed what. Initially, some lawsuits were filed on behalf of other Harvard students who claimed that basically the idea for Facebook was theirs. However, such lawsuits were thrown out of court or dismissed.... One of the largest problems with Facebook is that it does not have Admins (or administration) who are the regulators of the site. For example, there should be at least one Admin for every 100 people. This way, any behavior that would be considered in poor taste or offensive would be regulated by the Administration, who would approve of posts. This might be considered a Communist tactic, but in reality it would solve a lot of problems of pictures and comments being posted that were inappropriate or unbecoming. This would then put 8 million people to work. They could work online from home, as long as they underwent many of the usual requirements required of job seekers—for example, submitting a resume. Anyone with an Internet connection could be employed. These are merely ideas, but they could fuel a nation struggling from unemployment beyond belief. According to national statistics, 14 million people in the United States are unemployed right now. Creating Admins for Facebook is a genius idea because it would allow people to: a) work from home; and b) transition seamlessly into the work force. Part of looking ahead to the future means looking at the past. Facebook has a long history and is almost going to be going on its eighth birthday in February of 2012. So, it makes much sense that Facebook be seen as a major employer in the United States. The cream of the crop—only the best workers—should be hired for these new jobs. Of course, this has the added danger of making a digital divide between the haves and the have-nots. Much of social networking has reached great heights, but Facebook has been at the helm of the majority of that success. Facebook is going to be a great force to be reckoned with in the future, but

Has the auditor lost its relevance as a profession Literature review

Has the auditor lost its relevance as a profession - Literature review Example The secondary data sources have been used to study the previous studies and the empirical literature on the incompetency of the auditors and the adverse consequences faced the public due to their irresponsible activities. The literature review then assesses the justification of the expenses incurred for the purpose of auditing and the value that has been added as a result of auditing activities. The questions asked on the relevance of auditing function, mainstream and the alternative viewpoints on the topic have been reviewed. The recommendations on the ways of adding relevance to the auditing profession have also been included in this study. Historical background The auditors and their functions of auditing have never in such a limelight as ever before. The occurrence of the global financial crisis has raised concerns in the US, UK, Belgium, Singapore and in many other countries of the effectiveness of the auditing profession in the industry. The economic debacle exposed the ineffic iencies in the auditing practices conducted by the auditors. The US Senate, parliaments in different countries of Europe have started to relook into exploring a new model for auditing practices as its was felt that the auditors and their profession of auditing has lost its relevance in streamlining the business records, identifying the gaps and loophole and help the business to keep fair and transparent financial records for public disclosure. Several companies in the past have been involved in the financial scams where there balance sheets and financial statements have been inflated and thereby misled the investors about the true financial status of the companies. For example, Enron has been earmarked as the biggest audit failure in the history when they showed poor standards in auditing of financial statements mainly due to the mal intentions of their board of directors that led to the incorrect disclosure of financial statements to its shareholders. The eventual fall of performan ce of Enron brought out the truth and finally Enron Corporation went bankrupt. The impacts of failure of auditing were hugely felt during the global financial crisis. The accountability for lack of transparency in the financial statements was affixed to the auditors (Kornberger, Justesen and Mouritsen, 2011, p.525). Hence, the costs incurred and the time and energy spent in the profession of auditing were felt as unnecessary burdens with the advent of control technologies and automated systems to streamline the financial records and information. Methodologies The methodologies adopted for carrying out the activities of auditing is important in establishing the relevance and effectiveness of the auditors. The auditors are the final check points of the financial information to be disclosed to the public after their certification. Thus the methodology adopted by them for evaluating the values of the assets and liabilities of the company in judging the correctness of the financial infor mation is very important. The auditors follow the method of going concern in assessing the value of the assets and liabilities of the companies. This raises the complications in the activities of the auditing profession. The method of going

Reflective learning report Essay Example | Topics and Well Written Essays - 1500 words

Reflective learning report - Essay Example I also ensured that I led the accounting department as a team. Team work certainly helped us since; we could generate ideas more quickly and also come up with solutions to various problems faced in the course of work. This had a lot of impact on the people I was working with since; they also learnt to be hard working and relate well with their colleagues. The impact on the outcome of work was also positive since, through my department, the organization made investments that were successful and profitable. The learning model that was hugely beneficial in my work is the experimental psychology model (Knowles, 2012, 9). I had drawn down the model and purposed to follow it step by step in order to achieve my desired objectives. I was self-motivated and was also motivated by the goals and objectives that I had set for myself and the company. My fellow colleagues also motivated me to work harder in order to achieve the set goals. My perception also profoundly affected my way of work since; at times I perceived things different from the rest of the employees and thus ended up making mistakes. I also purposed to acquire all the necessary skills for my work in order to achieve my set goals. I then assessed my performance through analyzing the improvements of the company. This way, I would know that I had made an impact on the workplace and other people too. Substantive Topic Applied: Team Work Team and group work immensely assisted in the success of work at Vital Company. This is because; with the accounts of the company being so vast, we had to divide ourselves into different groups in order to meet the time limit of preparing the financial statements. Members decided to form groups consisting of ten members each in order to accommodate all the members. Each group had a leader to coordinate it and a secretary to take notes. Each group would then set its own goals which it wanted to achieve at the end of the financial period. However, all groups agreed to be meeting at the same time in order to ensure that each group met. After a certain period, each group analyzed its performance and development through analyzing its forming, storming, norming and performing areas (Belbin, 2012, 65). Team work also assisted in the success of the company since; there was a better decision making, and coverage of large quantity of work within a short period (Maddux & Wingfield, 2003, 11). Cooperation among the group members also promoted colleague relations thus, leading to high quality work. My punctuality and social skills also increased and I learnt how to present ideas to a multitude of people. I also learnt on how to handle disagreements among a large group of people. There was also effective problem solving in the groups. Team work also made the performance feedback more meaningful because; everyone understood what was expected and could monitor the performance against the expectations. In addition, group discussions encouraged members to test their abilities and try out new ideas. This stimulated individuals to become stronger performers. In the future, one thing that I would change is the way of handling conflicts in the groups; I would ensure that conflict resolution is done by the members themselves and not by the leaders or some of the members (Cohen & Bailey, 1997, 249). I would also ensure that there is the sense of commitment in groups such

New Coronary Intervention Codes in 2013 Essay Example for Free

New Coronary Intervention Codes in 2013 Essay Coronary Intervention Codes and Reimbursement: Two Decades of Effective Advocacy Why have interventional cardiologists’ salaries ranked at or near the top compared to other specialties for the past decade (1)? Long hours under high stress using extreme skills to perform dangerous procedures? Yes, but there is more. Effective advocacy by the Society for Cardiac Angiography and Interventions (SCAI) and American College of Cardiology (ACC) has played a large role. This is the story. Medicare, enacted in 1965, based reimbursement for physician services on the actual charge on the current bill, the customary charge over the past year, or the local medical profession’s â€Å"prevailing† charge over the past year, whichever was lowest (2). This system was chaotic and confusing. In response, the Omnibus Budget Reconciliation Act of 1989 switched Medicare to the Resource Based Relative Value System (RBRVS). This used Hsaio et al’s estimates of physician time and effort to assign Relative Value Units (RVUs) to physician services (3). In 1991, the Center for Medicare and Medicaid Services (CMS) convened a series of Technical Expert Panels (TEP) to refine Hsaio’s initial estimates of work for selected procedures. One of these was percutaneous transluminal coronary angioplasty (PTCA). A representative of the SCAI/ACC convinced the TEP to increase reimbursement for PTCA from Hsaio’s estimate of 9.5 RVU’s to 10.5 RVU’s. The 20 million or so coronary angioplasty and stenting procedures performed in the US since 1992 have all been reimbursed at a rate reflecting that 1 RVU increase granted by the TEP in 1991. Thus, this one instance of effective advocacy by SCAI/ACC increased reimbursement for these 20 million coronary intervention procedures over two decades. Now jump to 1994 when STRESS (4) and BENESTENT (5) compared elective stenting to balloon angioplasty, and a randomized trial compared then state-of-the-art Palmaz-Schatz and Gianturco-Roubin II stents (6). Elective stenting was just starting; most stents were placed to bail out failed balloon angioplasty. In this milieu a code for coronary stenting was developed. The expert panel that advised CMS on reimbursement estimated that the average stenting procedure required 120 minutes of physician time from first injection of lidocaine to last catheter withdrawn (diagnostic catheterization not included), 45 minutes of preparation time before the procedure, and 60 minutes of physician work after the procedure, for a total physician work time of 225 minutes per coronary stenting case. Thus, interventionists have been paid for coronary stenting at a rate based on almost 4 hours per procedure for the past 17 years. New Coronary Intervention Codes and Values For the past several years, CMS has attempted to curb Medicare expenditures by identifying and reducing payment for over-priced services. In 2011 CMS identified coronary stenting as possibly over-priced and required that it be re-valued. The value of a service depends on the time required to perform it, and to a lesser extent the intensity of the work. SCAI and ACC knew that invasive cardiologists were reimbursed for 4 hours of work per stent case since 1994, and that procedural times might have shortened since then. A re-valuation could significantly decrease the RVUs paid for a coronary stenting procedure. Interventional cardiologists were also keenly aware of problems with the existing coronary intervention codes (Table 1). Reimbursement for an emergency middle-of-the-night ST elevation myocardial infarction (STEMI) stent procedure was the same as for elective stenting of a healthy patient at noon. Stenting of complex left anterior descending bifurcation lesions requiring 3 stents was valued the same as stenting of a type A lesion requiring 1 short stent. SCAI/ACC experts decided that if interventional procedures were to be re-valued, it was time to get codes that recognized and reimbursed for the extra work of performing complex coronary interventions. SCAI/ACC experts developed a new set of codes that describe interventional procedures with greater detail (Table 2) and won their approval by the AMA Current Procedural Terminology (CPT) Panel. Then they had to be valued. This required several steps. The first step was a survey of practicing interventionists to estimate physician work and time required for each new coronary intervention code. As expected, practicing cardiologists estimated the skin-to-skin time required for coronary stenting to be much less than original 2 hours – 45 minutes to be exact. Without the new codes, reimbursement for coronary stenting would likely have been reduced proportionately, by over 50%. Fortunately, SCAI/ACC experts convinced the American Medical Association Relative Value Update Committee to recommend to CMS that the new complex coronary intervention codes be reimbursed at higher rates (by up to 25%) than simple coronary stenting. Overall, reimbursement for the family of coronary intervention procedures will drop 18-20%, much less than the 50% that might have occurred without the new codes. New Coronary Intervention Codes Solve Old Problems The new codes solve several longstanding problems. .1. For a decade interventionists have complained that they are not reimbursed for the intensity of STEMI PCI. Now they are. RBRVS rates intensity using units of â€Å"RVU’s per minute of procedure time†. The intensity of seeing patients in clinic rates.03, coronary bypass surgery rates.10, and emergency tracheostomy rates.26. Coronary intervention codes were previously rated at.10, but the new code for STEMI PCI has an intensity rating of .18. Intensity of other new coronary intervention codes is raised to the .13 – 15 range. .2. The extra work and stress of PCI of grafts and chronic total occlusions is now recognized and reimbursed higher, by 10% and 25% respectively. .3. Stenting preceded by atherectomy is now reimbursed at a higher rate (by 12%) than stenting alone. Previously there was no differential. .4. The additional work of performing PCI on multiple branches of a single artery is now recognized with separate codes. CMS refuses to pay for these, and SCAI and ACC are lobbying CMS reverse this decision. The good news is that CMS’ decision does not limit reimbursement because CMS bundled the value of the â€Å"additional branch codes† into payment for the base codes. SCAI/ACC still recommends that the â€Å"additional branch codes† be used because some private payers may choose to reimburse them. Interventional Coding Examples to Illustrate Basic Principles .1. Problem: Coronary angiography is followed by ad hoc coronary stenting of the right and circumflex coronary arteries. Solution: 93454 (coronary angiography), 92928 (stenting single coronary), and 92928 again (stenting circumflex). Principles: As before, catheterization is coded using the separate cardiac cath codes, which are paid at 50% when performed with coronary intervention. Also, the base code for coronary stenting (92928) is used for both vessels, whereas previously the base code was used once, along with an â€Å"each additional vessel† code which was retired in 2013. .2. Problem: Stenting of the circumflex is performed followed by atherectomy and stenting of the ramus. Solution: 92928 (stenting single coronary), 92933 (atherectomy and stenting single coronary). Principles: Previously CMS recognized and reimbursed for procedures in only 3 arteries (the left anterior descending, the circumflex, and the right) and might have denied reimbursement for the ramus PCI. Starting in 2013, CMS recognizes two additional arteries (the left main and ramus arteries) and will reimburse for PCI in all of them. Also, use the new â€Å"atherectomy + stenting† code (92933) offers higher reimbursement than the stent code (92928). . 3. Problem: A patient with non-ST elevation myocardial infarction has a 99% lesion with slow flow stented. Solution: 92941: (stenting of subtotal/total occlusion causing acute MI). Principle: This code can be used for any acute MI patient (STEMI or non-STEMI) with a â€Å"total or subtotal† lesion. CPT does not provide a definition of â€Å"total or sub-total†, so if the code is used an accurate description of the lesion to support this code should be included in the procedural report. .4. Problem: Bifurcation stenting of the left anterior descending is performed, with PTCA of the sidebranch ostium and stenting of the parent vessel. Distally, a separate diagonal sidebranch is rotationally atherectomized. Solution: 92928 (stenting of the LAD), 92921 (angioplasty, additional branch for the LAD diagonal bi9furcation), 92925 (atherectomy, additional branch). Principles: PTCA of the diagonal as part of the bifurcation stenting is now recognized. When a separate branch is treated, use a second â€Å"additional branch† code. .5. Problem: Intravascular ultrasound (IVUS) shows a significant left main lesion extending into the proximal LAD which is stented. Fractional flow reserve across a distal lesion is measured and is not significant. Solution: 92928 (stenting of the left main/LAD), 92978 (intravascular ultrasound), 93571 (fractional flow reserve). Principle: As before, IVUS and FFR codes are used as â€Å"add-on† codes in addition to the base coronary intervention codes. When a single stent is used to treat a lesion in the left main extending into the LAD or circumflex, it is coded with only one code.

Effects Of Nuclear Power On American Society Politics Essay

Effects Of Nuclear Power On American Society Politics Essay The issue of nuclear power has always been at the center of attention and public dispute, especially nowadays with the energy crisis and the limited fossil fuels. It is mainly countries within the western system, such as the US, the UK and France that have acquired the technology to support nuclear power.  [1]  American society and identity have been shaped by a self-portrait of super-power that keeps the order.  [2]  Nuclear power has been one of the most powerful weapons that consolidated American identity and established her as the big power of the world. During the Second World War American power was shown to the world with the testing of the first A-bomb. During the Cold-War era the USA competed with the USSR and Great Britain, as to who had the best and nuclear weapons and plants as part of the deterrence doctrine.  [3]   Today nuclear energy is spreading and the USA is thought of as its motherland with the largest number of plants in the world. America presents its need for nuclear power with emphasis on the words security and economic leadership: To maintain our economic leadership and strengthen our energy security America must start building nuclear power plants [à ¢Ã¢â€š ¬Ã‚ ¦] Your industry has come a long way during the recent decades and I am confident that greater progress lies ahead. By expanding our use of nuclear power we can make energy supply more reliable, our environment cleaner and our nation more secure for future generations. May God bless you all.  [4]  There is a massive debate about how safe production of energy from nuclear power is and if it is worth the financial and environmental cost. Emblematic is the Three Mile Island Plant that was at the same time both a failure and a success story as it recovered from the accident when President Carter visited the station and conti nues to operate efficiently to the day. The question this essay poses is: To what extent does nuclear power affect American Identity? In this essay I will set out to look into the ways that nuclear power has affected, and is affecting, American society. How this technological society has accepted its nuclear future and how nuclear power is becoming the new emblem of the New American Dream as part of an energy-autonomous and sustained America. . Emblematic is the Three Mile Island Plant that was at the same time both a failure and a success story as it recovered from the accident when President Carter visited the station and continues to operate efficiently to the day with a license extension until 2034.  [5]   Three Mile Island  [6]  today Main Body The New Energy Regime and the New American Dream The World today suffers from economic, climate and energy crisis. The energy crisis is a major global problem since fossil fuels in general are limited and do not constitute renewable sources, as do solar energy and wind. However, extracting and storing solar and wind energy is not considered very efficient. Therefore nuclear energy, as supported by many scientists is a way to solve this crisis. The research about nuclear power started in the 1940s for military purposes and more specifically for the atomic bomb, which was based on the chemical process, which is called nuclear fission. The first nuclear power station was founded in the 1950s. U.S. power plant performance has steadily improved in the past 20 years. The USA is the performance leader among the other countries that produce electricity from nuclear energy. Twelve out of the twenty-five top reactors in the whole world are American. Moreover, especially after the establishment of hydroelectric plants, the cost of production of electrical power with nuclear energy is cheaper than the cost of petrol and CO2. Howeve the cost of construction  [7]  , investments for security and technology (which are not always reliable) are immense making the actual cost of effective nuclear power a burden for society.  [8]  Investors consider the high capital costs and the risks of decommissioning cancellations making federal loan guarantees an economically safer option.  [9]  This means that funding basically comes from tax collection. For 10 years now, lobbyists favoring a renaissance in building new U.S. reactors have been lining up financial help from taxpayers. They need this help because these new reactors are far more expensive than other ways of generating or saving electricity. Consequently, private investors wont take the risk of losing a lot of money.  [10]  [delete?[The question is, if the cost is too high, is it socially beneficial?]] The basic argument for the new energy regime, for this very important shift in energy dependence, is climate change. Focusing on the environmental hazards that oil poses while stressing advantages of nuclear power answers well with the American public and its identity as a clean and progressive society. This was evident with the positive response to the documentary Inconvenient Truth that spread ecological consciousness all over the country. Furthermore, taking into consideration that America is a technological society, a society that cannot function without winning  [11]  technology, the combination of clean technological championship makes it self an appealing part of the New American Dream  [12]  , as David Crane puts it a carbon-free American Dream  [13]   Crane: [W]hat I call the Gore Approach [is] based on self-denial: Lets all go back to living without air conditioning and to drying our clothes on the clothes line. Theres another option, though: the Schwarzenegger Approach. Its the American Dream, but its the carbon-free American Dream. SPIEGEL ONLINE: What do you mean by that? Crane: Hes like, I want to drive my Hummer and fly my Gulfstream 4, I just dont want them to produce any greenhouse gas I think its very difficult to get the American people to engage in self-denial. Its just not the American way. The American way is based on consumption. You dont want to change the American way of life, you just want to show them a better way to get there, and nuclear power is a key part of that. The first breakthrough for nuclear power was the connection with global warming. President Barack Obamas speech also finds recurring words in American discourse that point the publics attention to a better life with the right to consumption in an open future of a new world of abundance: To create more of these clean energy jobs we need more production, more efficiency, more incentive. And that means building a new generation of safe, clean nuclear power plants in this country  [14]  (my italics) The American way then is that of Consumption and along those lines we observe a paradigm shift in the same pattern: from oil to nuclear. With the financial crisis nuclear power seems as a way re-invent the economy and the American Future. It is not only environmental concern but a need of energy-independence and the self-sustainability given by autonomy so as not to be dependent on other countries for energy provision: The road to global security lies in lessening our dependence on Middle East oil and making sure that all people on Earth have access to the energy they need to sustain life.  [15]  This passage among others reflects the new product within American society that will provide for all the basic luxuries of the American home through nuclear powered electricity and that will in turn be sold on to the rest of the world. [[Moreover, nuclear power holds a key to national safety by threats from the East which lead American opinion into feeling safer knowing that the country holds the leading nuclear power in the world.]] Environment, Health and Hazards Among the advantages of nuclear energy is that it has much less organic gas emissions than carbon. As far as pollution is concerned, air pollution in the case of the nuclear reactor is minute as opposed to oil and CO2, while nuclear waste takes up much less volume. Nuclear stations however show high thermal pollution especially in the summer season when demand is higher and droughts challenge the capacity.  [16]  There is the risk of radioactive pollution in the case of an accident or leak, not to mention that most plants are situated on rivers for cooling purposes. Not much has been said about the dangers connected to water contamination and its flow into inhabited areas. Nuclear energy might be more friendly to the environment however it is certainly not green, as mentioned by scientist and writer Conrad Miller, MD  [17]  . Radioactive waste, which is a product of the nuclear process, is dangerous to humans, animals and plants.  [18]  According to Miller If you stand th ree feet away [from radioactive waste] for ten seconds it will kill you.  [19]  One very important fact is that the harm of radioactive waste can last from 240,000 to 480,000 years.  [20]  Research has shown that such waste is a cause of many types of cancer and also genetic paramorphosis due to the emitted radiation. In fact babies located near plants have been found to have strontium-90 contaminant in their teeth.  [21]   Waste disposal is of the major problems that advocates of nuclear energy have to face since there is no actual solution at the moment. The Yucca Mountain that is currently used for waste is a problematic area and most of the plants keep waste on site.  [22]   The possibility of an accident is another danger posed by the use of nuclear energy. A possible meltdown could be caused by faults in the reactors or of course by a simple human error. Moreover, if the control rods happen not to function perfectly, then we will be faced with an uncontrollable chain reaction; namely a nuclear bomb. This was the case with the well-known Chernobyl incident.  [23]   American discourse stresses the limitations in security and maintenance of the Chernobyl Power Plant, implying the advantages of American high security and the notion that such accidents could not occur. However, accidents did occur, four of which took place in the U.S.  [24]  One of these incidents took place in March 1979 at the Three Mile Island nuclear power plant, which is near Harrisburg, Pennsylvania  [25]  . It has been characterised as the worst nuclear accident in American history according to the documentary Meltdown at Three Mile Island (1999).  [26]  Problems in the function of the cooling system caused automatically an immediate shut down of the reactor.  [27]  Consequently, there arose a public relations crisis  [28]  . Finally after numerous actions the temperature dropped stabilizing the core. Great contradiction characterizes this incident, as there was the question of political image at stake. Washington D.C could not decide whether to evacuate or not. The public grew anxious with the limited evacuation that was ordered and the contradictory suggestions by the scientists. President Jimmy Carter was invited to the site six days after the incident to cool down public opinion and agitation, marking the end of the crisis, despite the fact that radioactive water rested on the floor of the facility. The core meltdown was denied it ever happened. However, in 1982 a camera was placed inside the core that showed severe damage, with 50% of the core having been melted down. It turns out that 20 tons of melted uranium reached the pressure vessel making it a core meltdown, no question about it.  [29]   The book written in 1982 by Philip L. Cantelon and Robert C. Williams about the incident, entitled Crisis Contained, The Department of Energy at Three Mile Island, is the official history of the Department of Energys role during the accident. The book among other things says that there were no city-evacuation plans and if there were, they were soon abandoned. It is claimed that there was no evacuation but a weekend exodus based on what government officials and the media imagined might happen. On Friday confused communications created the politics of fear.  [30]  The insistence to disprove any evacuation plans shows that primary concerns are public relations rather than extreme precaution with whatever the cost on the image. We can therefore see how nuclear plants have become a signifier of American advance and images of infallibility. In February 1st, 2010 the Vermont Yankee Nuclear Power Plant suffered an accident when underground pipes deteriorated causing a leak of radioactive tritium into the groundwater supplies.  [31]  [change source?]This made drinking water poisonous for use, thus affecting all living organisms in the area. The Vermont Yankee officials claimed that tritium did not reach the water. The cleanup was still in progress when another leak was found of a more potent radioactive isotope, strontium-90, linked to causes of cancer.  [32]  On the 29th of May, contaminated water was found (containing 13 different radioactive substances) coming from a pipe near the hole that was dug to clear up the initial leak. [delete?[The Entergy Nuclear officials had given misleading information about the existence of underground pipes that were indeed the cause of the leak and contamination of the area.  [33]  This shows how power plants are not as safe or highly preserved as the government wants to emphasize, while the officials go out of their way to mislead and misinform. In addition to the health and environmental hazard the repeated leaks and the cleanup cost 10 million dollars, which the government pays as guarantee of the government-industry partnership and for which it taxes the citizens. Although Vermont Yankee nuclear power plant had been given permission for extension in operation for 20 years after 2012 after the incident a resolution was passed to block the operations. The owners still pressure to have another vote in order to get the permission for the extension. During 2010 protests took place to prevent the passing of the vote, while citizens have been active in the area to influence a shut down of the plant since 1979.  [34]  ]] There are a lot of scientists who are in favour of nuclear energy. Patrick Moore chairman and chief scientist of Greenspirit Strategies Ltd with Christine Todd Whitman are co-chairs of a new industry-funded initiative, the Clean and Safe Energy Coalition that supports the nuclear energy renaissance. Patrick Moore published an article in the 16th April 2006 arguing that although back in the 1970s he was totally against nuclear energy, the past 30 years have changed his views. [delete?[He empowers his position by saying that US CO2 emissions are at a rate of 36% produced by coal-fired electric plants, while 103 nuclear reactors produce 20% of Americas electricity with zero C02 gas emissions]]. As he reports the public response to nuclear power plants is welcoming. Eighty percent of residents within the range of 10 miles from nuclear plants support them, workers not included in this number.  [35]   Politics Moore believes that the dangers of nuclear power are very small in the USA. He commented the will of Iran to have nuclear energy by saying: And although I dont want to underestimate the very real dangers of nuclear technology in the hands of rogue states, we cannot simply ban every technology that is dangerous.  [36]  This somewhat contradictory statement shows how the West has assumed the right to advanced nuclear technologies with, while other states are not qualified enough to do so as they do not belong in the Western canon. Professor of International Politics Keith Krausse has pointed out how, after the Cold War, the communist threat was replaced by the threat of the rogue states in order to fill in the threat vacuum that justifies many sinister actions and the presence of nuclear proliferation.  [37]  Moore supports that things have changed since the time of the Cold War when everything linked to nuclear power seemed to be catastrophic for the whole world. However, as K rausse shows this is not the case, especially when it is American governmental discourse that tries to equate nuclear power in the hands of the rogue states with weapons of mass destruction. American foreign policy and public relations still rest on the deterrence doctrine to maintain a super power image and continue to use military and nuclear resources. US policy-making reflects the aspects that define a society and affect it in ways that will support strategy and its validity. Therefore, US society and self-definition as a major nuclear power (that can defy the Non-proliferation treaty for security) can verify the actions of the state and place the norms for the global structure of international relations. More importantly, Krausse points out that the shaping of the new discourse of danger can justify todays existence of high technology military and nuclear forces that were already existent during the Cold War and continued to be of use in the modern era as a basis for the energy project. There would have been an economic and power vacuum if these resources were not taken advantage of.  [38]  If after the end of the Cold War there was no re-use of all the nuclear resources and discourses in relation to power and enemies of the state, then there would have been a drastic change in the character of the American society.  [39]   Public Opinion and the The Generational Change, 1970s vs 2000s [delete?too strong?[ The economic requirement for the protection of major capital investments is a more demanding constraint than public acceptance  [40]   Before observing how nuclear opposition during the 70s became minute in the 2000s one should question whether it matters at all. For example, legislation on safety issues and nuclear plants as John F. Ahearne indicates gives power to the legal system making decisions about public interest whereby with regard to public participation the majoritys decision effectively denied public an opportunity to participate further in a regulatory process on a significant safety matter.  [41]  ]] A very recent poll conducted in the USA by Bisconti Research Inc. in March 2010 shows that American citizens support nuclear energy. The graph bellow will illustrate in general the opinion that American citizens annually have since 1983. As we can observe 2010 is the year of the highest percentage of public support for nuclear power (74%). More specifically 33% percent out of 74% strongly support nuclear energy, while only the 10% is strongly against. The ratio is 1 to 3. The time when there was the greatest objection to nuclear energy was 1986-1987. It is obvious that this is due to the Chernobyl accident. Since 1988 public opinion has turned in favor of nuclear energy with an increasing rate.  [42]  The survey also shows that more than 72% of the people questioned, agreed to solutions which nuclear energy gives to reduce greenhouse gasses emission. This survey is entitled Public Support for Nuclear Energy at Record High. These figures show how America is becoming a nuclear society with a smashing 70% favoring the building of new plants. [delete?[What is not clear is whether the public perceives the implied future scale of dependence on nuclear energy and the social and ethical implications.  [43]  ]] A survey conducted by Nelkin and Fallows in 1978  [44]  on public opinion and nuclear energy reveals the ways in which the government and nuclear corporations tried to appease the growing opposition that characterized the 1970s. The government to respond somehow to this pressure tries to reduce conflict, win public acceptance and renew faith in governmental authority [à ¢Ã¢â€š ¬Ã‚ ¦] necessary for continued progress and prosperity  [45]  Indeed as Yarrow shows in his article Selling a New Vision of America to the World during the 1950s onwards the words prosperity, progress and abundance entered all ranks and sections of American society.  [46]  Being the envy of the world with visions of a fabulous future, economics, wealth and consumption became the basic approach to the public mind.  [47]   Nuclear energy was of course a major part of that economic and technological superiority aligned with the abundance that characterized American life. During the 1970s the industry was accused to have conducted an unbalanced campaign for nuclear energy, stressing the hot issue of employment and economic growth, therefore appealing with the promise of jobs and downplaying practical concerns such as safety, nuclear waste and possible contamination.  [48]  Today the same concerns about employment and prosperity trouble society in order to maintain the American standard of living. As Crane points out in his interview with Spiegel Magazine, there is a generational change that accounts for high numbers supporting nuclear power. The new generation does not remember the big accidents, You basically have to be 45 or 50 years old in the US to remember Three Mile Island SPIEGEL ONLINE: You mean to say that people are beginning to forget about the dangers of nuclear power? Crane: There is a perception that the American public is ready for nuclear. Its a combination of things, and one of them is generational change. The overriding concern in this country, just like in Europe, is global warming. The 1970s Opposition warned about the long-term consequences that are implied with the formation of nuclear society. The massive security measures meant and of course still mean giving up civil liberties for scrutiny and surveillance as a precaution to potential nuclear terrorism.  [49]   Public Awareness It is interesting to look into new power discourses that inform public opinion concerning nuclear projects. An article in The Times July 10, 2006 was headlined Danger from radiation is exaggerated say scientists. This article announces the documentary Horizon: Nuclear Nightmares  [50]  that incidentally or even conveniently came out the same week that the government was to announce the start of a new generation of atomic plants. The Times article and the documentary in question, hold that nuclear danger and the Chernobyl legacy is over exaggerated, while low levels of radioactivity may even be beneficial.  [51]  The documentary attributes sickness after the accident not so much to radioactive contamination but to the fear that was harnessed after the Chernobyl incident; namely an emission of fear and hypochondria rather than radioactivity. The number of the direct and indirect victims is suspiciously reduced while the 4,000 cases of childrens thyroid cancer attributed to the Chernobyl incident are here reduced to 9. The animals that were tested in the area were found to have low radiation levels on their skins, but the evolutionary background of humans and weasels differs greatly. A letter of complaint was sent on December 2008 by Richard Bramhall of the Low Level Radiation Campaign to the chairman of the BBC Trust, proving that the documentary was scientifically illiterate and had a biased stance on Chernobyl  [52]  making it a piece of propaganda. Bramhall accuses the documentary for distorting the Chernobyl Forum Report while the Report it self provides no basis for the statements of the so-called radiophobia that is to account for the overloading of the health system.  [53]  The lack of scientific understanding and objectivity makes the whole project subject to heavy criticism. The only conclusion that can be drawn is that the power discourses need to eradicate any opposition and concerns about nuclear power (since the promise that no accidents will ever happen cannot be sustained), in order to enter smoothly into a new nuclear era with all the consequences that this entails: Advertising the benefits of an activity increases public acceptance of a greater level of risk.  [54]  Nuclear energy is advocated as source of autonomy, development and prosperity, giving employment, economic, scientific and political opportunities the characteristics of the new American Dream needed to come out of the current recession years. Media and government promote that nuclear energy is used for environmental purposes leaving out the option of soft-technology and renewable resources. Moreover, the fact that uranium is an exhaustible source that will become harder to extract, therefore more expensive and a source of conflict in the future (just as oil has) is not something frequently mentioned. If the public is presented with nuclear power as the only feasible solution that brings about positive effects then it is not surprising that the percentages in support have risen. Realistic Solutions Nuclear energy does have its assets, and either way, this form of energy has come here to stay due to the massive investments that have taken place over the years. What seems as a better solution is Adm. Bowmans proposition for recycling.  [55]  Since nuclear fuel does not take up too much space, Bowman suggests that the waste should be removed from the neighborhoods and be consolidated in centralized locations away from the public for precautionary reasons. He is careful not to imply that their current locations are dangerous, but not preferable nonetheless. He suggests that the problems of disposal should be reevaluated and that investments should be employed in recycling nuclear plants, in order to recover vast unused energy in the fuel, reduce waste volume and radio-toxicity that mother earth must absorb.  [56]  Currently, 95% of the energy content is being thrown away, which can be exploited and at the same time remove the earths heat load. Bowman argues that since Ameri ca has 300 nuclear plants it is a feasible vision to construct at least one deep geologic repository that will prove more beneficia

Multinational Apparel Specialist Retailer Marketing Essay

Multinational Apparel Specialist Retailer Marketing Essay HM Hennes Mauritz AB HM or the group, founded in 1947 and headquartered in Stockholm, Sweden, is a multinational apparel specialist retailer and famous for its fast-fashion clothing for men, women, teenagers and children (Larenaudie, 2004). Besides the companys primary and eponymous chain, the group also operates through four independent brands: Collection of Style (COS), Monki, Weekday, and Cheap Monday (HM, 2011a). Growing with the business concept to offer fashion and quality at the best price, by the end of 2011, the group has grown one of the largest global apparel retailers with presence in 43 markets and nearly 2500 stores (HM, 2011a). HM operates within only a single segment: sale of clothing and cosmetics (MarketLine, 2012), which locates the company as a fast-fashion retailer in global apparel industry. High level of rivalry among competitors has been witnessed within the global apparel industry. And the fluctuating price of raw materials, unpredictability of fashion trends and increasing demand of real-time update from consumers also pose challenges towards fashion retailers. However, HM, as one of the fast-fashion pioneers, has an outstanding and steady performance over the years. There are various factors contributing to HMs outstanding performance. Combined with the industrys key success factors, it is essential for a fashion retailer to balance cost efficiency with differentiation, have strong brand-consciousness and global expansion. Also, the continuously heated corporate social responsibility (CSR) issue remains the key to HMs success. Therefore, this dissertation aims to achieve three goals: To analyse HMs performance based on the global apparel retailing industrys key success factors To competitively analyse HMs position against its competitors, especially Zara (Inditex Group) To reach recommendations for the companys future strategy This chapter serves as a general overview of the paper and aims to help readers with the guideline of thoughts in the dissertation. Chapter Two discusses literature review and methodology. Chapter Three focuses on analysis of global apparel retailing industry with Five Forces Analysis, PESTLE Analysis and Key Success Factors of the industry. Chapter Four is the main analysis of HM, starting based on four key success factors: cost efficiency; brand-consciousness; global expansion; and CSR, followed by competitive positioning of the company, financial analysis, SWOT analysis, and ending with recommendations. Chapter Five is the conclusion of the dissertation. Due to personal limitation of knowledge and reach of resources, several parts of discussions in the dissertation could not be conducted in-depth. No dependable survey and data collections have been conducted due to personal limitation of time and financial support. The dissertation is mainly based on figures and data collected from second-hand resources. Chapter 2: Literature Review and Methodology Literature Review This section serves as a theoretical support for the validity of the analysis of global apparel retailing industry in Chapter Three and analysis of HM in Chapter Four. Industry Analysis The analysis of global apparel retailing industry is conducted with Five Forces Analysis (Chapter 3.2), PESTLE Analysis (Chapter 3.3) and Key Success Factors (Chapter 3.4). Five Forces Analysis developed by Michael Porter illustrates five factors determining the level of competition and profitability within an industry (Grant, 2010). The framework is widely used in industry analysis and is conducted by analysing five sources of competitive pressure: buyer power, supplier power, new entrants, substitutes, and rivalry (Grant, 2010) (see Figure 1). Figure 1: Porters Five Forces framework (Grant, 2010) PESTLE Analysis is a framework to clarify and discuss the external macro-environment that affects an industry which stands for Political, Economic, Social, Technological, Legal, and Environmental factors (Nejati et al, 2008). Key Success Factors of an industry is identified by analysing the factors that help a firm survive and thrive within the market environment (Grant, 2010). By analysing two main criteria what do customers want and how does firm survive competition the shared key elements of customer desire and the nature of rivalry could be identified (Grant, 2010) (see Figure 2) Figure 2: Identifying Key Success Factors (Grant, 2010) Combining Five Forces Analysis with PESTLE Analysis, industry environment could be discussed in details in Chapter Three. After the analysis of industry environment, key success factors will be reached by the model to serve as the basis for company analysis in Chapter Four. Marketing Mix Marketing mix model, also known as the 4Ps, is the combination of Price, Product, Promotion and Place, adopted by companies to explore their unique selling points (McCarthy, 1960) (see Figure 3). Figure 3: Marketing Mix 4Ps (McCarthy, 1960) By employing marketing mix model in Chapter 4.2, the unique marketing combination of HM has been analysed. International Product Life Cycle Theory The product life cycle (PLC) theory explains the basic development of products and motivations for international trade (Ajami Goddard, 2006). The theory describes four discrete stages in a product life cycle: introduction, growth, maturity, and decline (Vernon, 1966) (see Figure 4). Figure 4: Product Life Cycle Theory (Vernon, 1966) The PLC theory has been widely adopted in analysis of international business and trade (Ajami Goddard, 2006). In Chapter 4.2 and Chapter 4.4.1, the theory has been used in explaining HMs product and market select and entry in global expansion progress. Uppsala Model The Uppsala Model suggests that a companys global expansion is a gradual process reliant on market knowledge and incremental decisions (Johanson and Vahlne, 1977; Frynas Mellahi, 2011). The theory is based on the assumption that firms expand globally with logical steps, based on the gathered information from foreign markets, which will lead to greater involvement of market commitment to more international business activities (Johanson and Vahlne, 1977; Frynas Mellahi, 2011). The model is based on two steps. First, when starting foreign market selection and entry, firms normally start expanding to neighbouring countries or countries with small psychic distance (Frynas Mellahi, 2011). Then after gathering experiential market knowledge, the firm expand to foreign markets step by step (Frynas Mellahi, 2011). Figure 5: Uppsala Model (Frynas Mellahi, 2011) The Uppsala Model helps understand a companys choice and plan in international market selection and mode of entry. In Chapter 4.4, Uppsala Model is employed to better illustrate the global expansion strategy of HM. Corporate Social Responsibility The European Commission defines Corporate Social Responsibility as: A concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis (Commission of the European Communities, 2001) The importances of CSR has been analysed by Porter and Kramer (2006) as follows: Figure 6: Importance of Corporate Social Responsibility (Porter and Kramer, 2006) In Chapter 4.5, the theory has been used to discuss and analyse HMs involvement in CSR activities and its effects. Market Positioning A firm can achieve its competitive advantages in either of two methods: either it can supply an identical product or service at a lower cost or it can supply a product or service that is differentiated in such a way that the customer is willing to pay a price premium that exceeds the additional cost of the differentiation (Grant, 2010), which defines two different approaches to achieve competitive advantages: cost leadership and differentiation. Combining the two approaches with the firms competitive scope either industry-wide or single segment Michael Porter has defined generic strategies as follows (Grant, 2010) (Figure 7): Figure 7: Porters Generic Strategies (Porter, 1980) And a firm should focus on either one of the strategies above and avoid stuck in the middle (Porter, 1980). By defining the firms strategy of achieving competitive advantages, the firm could be positioned in the market. Market positioning is about where you are located in the marketplace, largely as judge by customers, compared to the rest (Piercy, 2009) In Chapter 4.6.1, the market positioning theory has been used to analyse HMs competitive positioning within the market and serve as basis to comparative analysis against its competitors. Methodology As to the methodology of this dissertation, phenomenological paradigm is adopted due to the explanatory and descriptive nature of the analysis. Qualitative approach is implemented in the dissertation for that quantitative method requires the collection and interpretation of abundant accurate primary data to make sure reaching reliable conclusions, while the analysis of HM largely depends on secondary data and research group releases and third party opinions. Due to the limitation of my personal knowledge, further research might be needed for more accurate information to be acquired. Chapter 3: Industry Analysis HM operates within only a single segment: sale of clothing and cosmetics (MarketLine, 2012), which locates the company as a fast-fashion retailer in global apparel industry. The following chapter examines the industry with an overview, Five Forces Analysis, PESTLE Analysis and then comes up with Key Success Factors of the industry. 3.1 Industry Overview The apparel retail industry consists of the sale of menswear, womenswear, childrenswear, clothing accessories, hosiery and footwear within the global market including North America, South America, Western Europe, Eastern Europe, MEA and Asia-Pacific (MarketLine, 2012). Figure 8: Industry Overview of Global Apparel Industry (MarketLine, 2012) The global clothing retailing industry has witnessed moderate growth in recent years. In FY2011, the total revenue of the industry had reached $1175.4 billion, a 2.7% growth between FY2007 and FY2011 (Figure). In all categorical segments, the womenswear segment remained most profitable in FY2011, representing 51.1% of the total value of the industry (Euromonitor International, 2011). Figure 9: Global Apparel Retail Industry Value; Global Apparel Retail Industry Geography Segmentation (MarketLine, 2012) 3.2 Five Forces Analysis As introduced in Chapter 2.1.1, the market will be analysed from five aspects: buyer power, supplier power, substitutes, new entrants and degree of rivalry. The analysis will take individual consumers as key buyers, manufacturers and wholesalers as key suppliers, and other retailers as players. Figure 10: Forces driving competition in the global apparel retail industry (MarketLine, 2011) 3.2.1 Buyer Power In global apparel retail industry, buyers are mostly individual consumers. As clothing has been recognised as symbols of fashion taste and social status, buyer power is weakened by design patterns and branding of a retailer (Bhardwaj and Fairhurst, 2010). However, the low switching costs of consumers strengthen buyer powers due to various choices on market. Furthermore, apparel retailers are at the end of the value chain. In a market where fashion trends change quickly and unpredictably, they have to offer buyers as demanded. This enhances buyer power. Overall, buyer power in this industry is assessed as moderate. 3.2.2 Supplier Power Major suppliers in the industry are clothing manufacturers and wholesalers, which are normally small to medium sized firms (MarketLine, 2011). In most countries, the supplier sector is fragmented because of the absence of diversity among suppliers (MarketLine, 2011). And further fragmentation is made by the retailers ability to outsource from foreign countries, especially from low-wage and labour-intensive regions such as China and India (Deloitte, 2011). However, the law of national minimum wage in some countries raises the labour power of suppliers. So overall, supplier power is assessed as moderate. 3.2.3 New Entrants Moderate growth has been witnessed in global apparel industry, making less people attracted to the market. However, with low barriers to entry and low requirement to start up a business in the industry, there are high possibilities for individuals to enter. And low switching costs for consumers and lack of variety in product differentiation in the market is beneficial for new entrants to compete. However, in some countries (e.g. the US) the market is majorly occupied by some large corporations from scale economies and strong buyer power (MarketLine, 2011). Regulation in the industry has remained little but recently corporate social responsibility issues have been heated among consumers (Idowu Filho, 2008). These factors prove that new entrants are strong threats. 3.2.4 Substitutes There are no substitutes for apparel. However, major substitute for retailing is to buy clothes directly from manufacturers (Zentes et al, 2011). This option is strengthened by the increase of online stores. Online shopping has been increasingly accepted by consumers (Peck et al, 2011). And by running online fashion stores, large amount of overhead could be avoided. There are still niche substitutes like home-made and couture clothing, or second-hand clothing (MarketLine, 2011). However, substitute threats are assessed as weak. 3.2.5 Degree of Rivalry The global apparel clothing industry is considered as fragmented (Jones, 2006). There are large numbers of small size retailers with the same product differentiation. And with increasing number of retailers expanding products to accessories and other diversities, rivalry in the industry has been intensified. With a moderate growth and low requirement of market entry, a high degree of rivalry has been resulted. In conclusion, the global apparel retailing industry is fragmented with moderate growth, weak threat from substitutes, moderate buyer power and supplier power. Low barrier to entry and low requirement for entrants have resulted in strong threats of new entrants and further led to high degree of rivalry. 3.3 PESTLE Analysis As discussed in Chapter 2.1.1, the macro-environment of the industry is analysed by PESTLE analysis regarding political, economic, social, technological, legal and environmental aspects (Grant, 2010). Political As for global apparel retailers, legislations vary among different countries and areas (Cobra, 2011). Every retailer in the industry must follow government regulations regarding goods and labour (Graham Richardson, 1997). And the political stability is also crucial for fashion retailers as it would directly affect their sales situation and asset safety (Aspers, 2010). Economic For fashion apparel retailers, economic trends are crucial for their strong impacts on consumer behaviours and purchasing powers. For example, in 2011, the global economic recession had negative effects on fashion retailers (Euromonitor International, 2011). Because consumers with lower disposable income regard clothing as functional item, while with higher disposable income branding became important as a symbol of social status and fashion taste (MarketLine, 2012). Price fluctuation of raw materials cotton price for apparel retailers has significant impacts on the industry (MarketLine, 2012). Interest rates also would affect sales and high interest rates lead to difficulties to trade overseas (Arnold, 2010). Moreover, currency situation is important as the exchange rate influences the value and trades of retailers (Browne, 2000). Social Increasing attentions from public have been focused on corporate social responsibilities (CSR) of apparel retailers, mainly regarding labour conditions, such as protection of workers rights, maintaining safe working conditions, reasonable wage and no child labours (Idowu Filho, 2008). Also, for global fashion retailers, cultural differences between counties are crucial due to different fashion trends, consumer behaviours, or local customs. Technological The development of technology has enabled global apparel retailers with e-commerce and international trade more effectively (Euromonitor, 2011). And with the implementation of high technology, supply chain has changed significantly with global outsourcing, real-time update, and continuous replenishment (Lopez and Fan, 2009). Moreover, online shopping has been increasingly accepted by consumers, which initiated a new channel for retailers to cut costs by less middlemen and no store rent (Peck et al, 2011). Law Global apparel retailers need to follow different government legislation regarding employment and production (Graham Richardson, 1997). For instance, in some countries, such as the UK, there is national minimum wage to protect employees rights (Low Pay Commission, 2011). And tariffs from international trade are also important for international retailers to abide by. Environmental Environment protection has remained a heated issue among apparel retailing industry, especially issues like chemical restrictions and pollutions during production (Euromonitor International, 2011). It is also crucial for retailers to save energies and materials and reduce environmental impacts during product life cycle (PLC) (Chapter 2.1.3). From the above analysis, global apparel industry largely depends on political stability, government legislation, high-technology, public relations. And fluctuating price of source remains a major challenge to apparel retailers. 3.4 Key Success Factors As introduced in Chapter 2.1.1, Key Success Factors of apparel retail industry is analysed with the Grant model by examining the demand and competition of the industry as following Figure 11: Identifying Key Success Factors of Global Apparel Retailing Industry (Grant, 2010) Therefore, from the analysis above, for a global apparel retailer, cost efficiency is one of the crucial factors for that low cost ensures profitability and efficiency indicates fast responding time to meet demand, allowing fashion and quality at the best price (HMs business concept, HM, 2011a). Brand strategy also plays a key role in apparel retailers success as it facilitates customer loyalty. Differentiation of style in fashion industry positions the companys competitiveness and brand image in the market. Global expansion strategy of an apparel retailer is also essential as choices of global markets and international strategy decide retailers future development, global presence and even profitability (Deloitte, 2011). The continuously heated issue of corporate social responsibility also remains the key to companys brand image among public and future growth. It plays a vital role in companys success due to the heated social issue of environmental protection and labour conditions (I dowu Filho, 2008) In the following chapter, the company will be analysed starting based on key success factors to seek for unique interpretation of HMs performance. Chapter 4: Analysis of HM This Chapter is mainly focuses on analysis of HM, starting by analysis based on four key success factors of the industry, followed by competitive positioning analysis, financial analysis, and SWOT analysis, and ended with recommendations. 4.1 Operations Strategy HMs business concept is to offer fashion and quality and the best price (HM, 2011a). To make sure the company follows the leading fashion trends, quality of designing and lead time of distribution are important (Slack et al, 2010). And the offer of best price needs to rely on the basis that cost from each stage has been minimised. 4.1.1 Reduction of Costs Cost-consciousness at every stage remains the key to HMs operations (ZavrÃ…Â ¡nik, 2007). To achieve the growth target with offering best price, HM has a professional buying team (HM, 2011a). The company arranges its buying activities according to decisions from design team (MarketLine, 2011). The buying team achieves lowest cost by purchasing in bulk with the right products from the right market (ZavrÃ…Â ¡nik, 2007). With no factories itself, the company outsources its product manufacturing to approximately 700 suppliers, mostly in Asia and Europe (HM, 2011a). The manufacturing locations are divided by the level of fashion-sensitiveness: the fashion-sensitive collections are normally manufactured within Europe to cut the lead time while the cost-sensitive and sustainable collections are produced in Asia to allow the lowest possible price and achieve economies of scale (HM, 2011a). Furthermore, HM focuses on building long-term relationships with suppliers and manufacturers (HM, 2011a). HM does not own any factories (HM, 2011a), so quality control over the whole process might be a problem. Due to fast responses to fashion trend, there is usually not enough time to perform detailed quality control. Therefore the company has been involved in accusation of poor quality. So, dependable suppliers could not only provide HM with lowest price, but also ensure the quality of products from long-term cooperation and mutual understanding. Moreover, as a fast-fashion retailer, HM has lead time from weeks up to six months (HM, 2011a), which is slower than its strongest competitor Zara (Inditex Group) of maximum 14 days. However, faster responses indicate higher cost, HM focuses on reduction of cost and achieves balance between fast-fashion and price, allowing averagely 30% 50% lower price than Zara (Larenaudie, 2004) 4.1.2 Speed of Responses HM holds the point that the right lead time should be balanced between price, time and quality instead of pursuing merely short lead time (Euromonitor, 2012). However, as a fast-fashion retailer, quick responding to fashion trends, consumer demand and other market changes is still key for the company (Grant, 2010). The company achieves fast responses by integrating downstream and being efficient at every stage (HM, 2011a). HM has a professional design team. The in-house design team, headquartered in Stockholm with over 150 internal designers, focuses on combining inspirations and information from multiple resources such as news, travelling, streetstyle and various exhibitions and catwalks (J.P.Morgan, 2012). This cross-functional designing could ensure the quick response to market change. High technology has also been used by HM to ensure the speed and efficiency of supply chain and enable changes could be made quickly enough and design agreement then could be fasten (Bruce and Daly, 2006). HM has conducted top-class computerised design software and built common IT platform that enables quick information exchange between the process of designing, production and warehouse. The group set only limited stocking area in each store to keep maximum area for display. So the replenishment needs to be backed up by effective distributions according to the daily sales. The immediate sales data communication serves as a strong basis for fast response and efficiency at every stage. With this in-house design and outsourced production process, HM claimed that their lead time could range from weeks to up to six months: fashion-conscious within weeks and sustainable and classics could be months (HM, 2011a), achieving balance between price, quality and time. 4.2 Marketing Mix Strategy After analysing the cost and efficiency strategy of the company, marketing strategy will be analysed first with the companys unique marketing mix (Chapter 2.1.2). Price HM makes effort to differentiate its brand image from other fast-fashion retailers with competitive low price (ZavrÃ…Â ¡nik, 2011). The company makes efforts to offer best possible price in spite of fluctuating costs of raw materials. However, the price range of HM products varies according to designs, current interest rates, and tariffs (Larenaudie, 2004). Product Clothing is the main product for HM. The company offers a wide range of designs for clothing, from classics to basics, to designs following the latest fashion trends. In addition, HM expands product mix to make the most of sales opportunities, such as make-up and costume jewellery at competitive prices, and home furnishings for young households (Euromonitor, 2011). Furthermore, as fashion trends intertwined (Steele, 2011), the new sustainable collection and classics collection enable a longer Product Life Cycle (Chapter 2.1.3) to maximise the design and avoid quick decline. Promotion Marketing promotion is crucial for apparel retailers to build the brand image (Cooklin, 2006). Various methods could be adopted, such as advertising, social media presence, personal selling, publicity, presentations (Cooklin, 2006). For HM, inviting guest designers has been a major attraction to customers (Euromonitor International, 2011). Also, HM has two major fashion seasons annually spring season and autumn season, and two sales season summer sales and the Christmas and New Year season (HM, 2011a). The two sales seasons promote products and attracts more customer visits with even lower prices. Place HM has strong global presence with over 2500 stores by the end of 2011 (MarketLine, 2011). However, the majority of HMs store-based apparel sales come from Europe, with Germany contributing the most, followed by the UK and France (Euromonitor International, 2011). In addition, HM has a growth target to increase the number of stores by 10% to 15% every year (HM, 2011a). But the company does not own any store facilities. By renting store premises the company could achieve flexibility to the best level and make sure store locate at the best possible position. And the company has leading distribution system enabling continuous replenishment based on real-time update sales data (Bruce and Daly, 2006). 4.3 Brand and Multi-Channel Strategy In the fashion retail industry, brand image is crucial in building customer loyalty (Bhardwaj and Fairhurst, 2010). HM is the most important brand for the group and enjoys strong presence internationally. With only limited investment in advertisement on TV, HMs collections with famous guest designers and celebrities have been the major hit to attract customers. From Karl Lagerfeld for HM in 2004, M by Madonna in 2007, Jimmy Choos shoes and bags in selected stores in 2009, to the exciting autumn hit Versace for HM in 2011 and Marni at HM in 2012, the guest collections fully showed attraction to customers, which interlink the price-conscious brand together with great design and quality (Euromonitor, 2011). As a mass-production fashion retailer, HM could raise brand impacts globally by cooperation with celebrities and famous brands to create the feeling of luxury and limit edition for its own customers. By collaboration with HM, luxurious brands could open up customer market with lower disposable income. Figure 12: Images of HMs Collections by Guest Designers and Celebrities (Versace, Madonna, Jimmy Choo) (HM Annual Report) In addition, HM sells not only through store premises, but also over the internet and catalogue books, which with brand strategy, composes together HMs multi-channel strategy. HM has made positive progress by promoting limited online sales globally allowing consumers in areas with no HM stores to purchase online, which boosts global brand image for HM and generates sales (MarketLine, 2011). The company also produces own online webzine HM Life, linking to its online stores and fashion items with latest trends (Euromonitor International, 2012). Furthermore, HM has successfully combined social media strategy to build up its brand and customer loyalty with Facebook page, twitter account, YouTube account and special online social hub (MarketLine, 2011). For example, HMs Facebook page has competitive engagement rate of 2% (likes, comments, share, etc.). And the presence of free smartphone app for its brand is available to keep customers update with new products and sales. Figure 13: Images of HMs Social Media Network: Facebook Page, Twitter Page and Youtube Page (HM, 2012) With the success of clothing, HM further extend the product range to maximise sales opportunities by selling low cost make-up and jewellery and home furnishing (MarketLine, 2011). Following Inditex, the group has transferred into multi-brand channels. Besides HM, the group also has four independent brands, namely COS, Monki, Weekday and Cheap Monday, allowing the company expand its network further and avoiding saturation in European market (Euromonitor, 2011). However, these brands still only have limited presence globally. 4.4 Domestic and Global Strategy With a unique strategy and clear brand identity, a fashion retailer should then develop its global expansion for further growth. The global expansion strategy and process could be better illustrated with Uppsala Model theory (Chapter 2.1.4). 4.4.1 Market Selection and Entry HM, headquartered in Sweden, started expansion into neighbouring countries Norway (1964) and Denmark (1967) (MarketLine, 2011), and followed by entering other countries and regions (Chapter 2.1.4) (Appendix 1). As introduced in Chapter 2, similar culture or shared borders could all reduce psychic distances between foreign customers and can encourage the companys global expansion (Ghemawat, 2001). Western Europe still witness HMs majority of sales growth, which shows the effects of shorter psychic distances. Following Uppsala model (Chapter 2.1.4), after gathering market knowledge and analysis of potential growth, the company entered global market by acquisitions and with greater levels of market commitment (Appendix 1). With an ambitious growth target of 10% to 15% increase in store numbers every year (HM, 2011a), the company strategically selected global markets and made effort to expand globally step by step. Gradually, the brand established its global name among consumers. However, the dominance of Western Europe leaves HM reliant on this region (Euromonitor, 2011). Economic recession within the Eurozone could influence the sales directly, and saturation would limit HMs further growth potential. At the meantime, the apparel industry in other districts prospers, especially Latin America, with a forecast sales value growth of 25%, where HM is absent (Euromonitor, 2011). Eastern Europe and Asia Pacific is also forecast with high sales value growing potential of 32% and 33% respectively (Euromonitor, 2011). 4.4.2 Domestic Strategy After selection and entry into global market, HM has witnessed strong global growth. Compared with international market, domestic market has moderate performance. However, headquartered in Sweden, HM still possesses large portion of market share (Euromonitor, 2012). The companys sales growth in Sweden remains steady (Figure 14). With strong purchasing power, consumers in Sweden tend to buy clothes for enjoyment over necessity. Most of sales were conducted in store purchasing over the past five years (Figure 1