A Civil Action Essays - Legal Entities, W. R. Grace And Company

A Civil Action Essays - Legal Entities, W. R. Grace And Company A Civil Action A Civil Action The movie A Civil Action brings up an interesting idea that many people in the public don't see or hear about very often. The idea that the big corporations often don't take into account the safety of the people that work for them or the people that live around the factories. These big corporations are run entirely by money and the idea of what things will cost and how much money they can possibly make. Too many times money is more important than the lives of human beings and the people that run these places only see in dollars and cents. The moral issues that this dilemma brings up are immense. This has been happening for centuries since the industrial revolution. Workers were subjected too harsh conditions and unsafe factories so that more goods could be produced. They had children as young as seven and eight years old working 15 hour days. In our modern times, toxic waste now plays a big part in the safety of people. The waste that these companies produce and dump under our noses don't seem to bother them in the least. The way microeconomics effects this must be fully explored to realize the way the corporate world thinks and acts. The goal of any corporation is to make the maximum profit that they can providing a good or service to the community while doing it as inexpensively as possible to them. Too many times producing these goods, toxic by-products are also produced. Nuclear power plants create plutonium, factories let poisonous gasses into the atmosphere, and chemicals are dumped into the drains and washed into our water everyday while being unknown to the people around them. The issue then becomes what to do with these poisons at the cheapest cost to retain the most revenue. In A Civil Action the W.R. Grace company decided that the best place to dump the T.C.E. was in the river behind the plant. It's too bad that all the people who lived down stream were also effected by the carelessness of this company. It got into the drinking water and gave kids cancer and seizures among other health conditions. These companies try to cover up these kinds of things as much as possible by buying people off. They think that if they give people money for their losses than everything will be alright. For huge corporations dealing with billions of dollars these payoffs are only a drop in the bucket for them. Even a million dollars to any family is an incredible amount of money and often the money becomes more important than the real issues behind the problem and can't be passed up by a family struggling to get by. The benefits of paying of these people for their trouble is much cheaper then doing things the right way in the beginning and protecting their safety. Money in our society has become a sense of power and authority. People think to many times that money is the key to happiness. Although money isn't a bad thing it effects the way people act and causes them to not care about the things that they should many times. Corporations have a structure that they follow in order to make them run in an efficient manner. In the movie John Travolta initially doesn't want to take the case because he doesn't think that there will be any money in it for him and his firm. Even though he goes and sees how much pain this company has caused to the people in Wolburn, he still doesn't care because of the money. Not until he realizes how big the companies are does he take the case. As the case goes on he isn't able to achieve what he ultimately wanted to do because the Grace Company has so much money that it will almost always win. Travolta's firm goes eight million into debt trying to win this case but ultimately has to settle because they can't go on. The firm doesn't even have to clean up the polluted land that caused all the problems. It wasn't until the E.P.A. steps in and with their power was able to achieve a

The eNotes Blog Enjoyed Ready Player One Check Out These Other TitlesNext

Enjoyed Ready Player One Check Out These Other TitlesNext Neuromancer by William Gibson With Blade Runner 2049 (2017) in theaters right now, stories categorized under the genre of â€Å"cyberpunk† have surged in popularity. Cyberpunk is a subgenre of science fiction, usually set in technologically advanced dystopian societies, that incorporates larger themes about the ethics and implications of technology. Soon, Ready Player One will be released as a major motion picture in 2018, with Steven Spielberg set to direct. If you are the type of person who prefers to read the book before the movie, you may have recently finished reading Ready Player One. (We also have a handy Ready Player One summary and study guide on ). This page-turning tech novel, filled with 80s pop culture references and thrilling adventure, has garnered a cult following. If you’re looking for something new to read, we’ve come up with a few suggestions to satisfy the inner cyberpunk in you. Neuromancer by William Gibson Launching the cyberpunk genre, William Gibson’s Neuromancer is thought of as the novel that â€Å"started it all.† Published in 1984, it was the first novel to really explore cyberspace. Case, a data thief, is recruited by a mysterious employer. His target? A highly powerful artificial intelligence that’s orbiting Earth. With memorable characters and a unique exploration of technology, Neuromancer has changed the genre of science fiction forever. Dune by Frank Herbert Frank Herbert’s Dune follows Paul Atreides, whose noble family accepts stewardship over the planet Arrakis. Arrakis is the only supplier of â€Å"spice,† the most valuable substance in the universe. A complex novel that provides insight into religion, politics, technology, and human emotion, Dune is an epic tale and the world’s best-selling science fiction novel. Enders Game by Orson Scott Card Orson Scott Card’s Ender’s Game is set in a future where the human race is being threatened by an insectoid alien species. In order to prepare themselves from future attacks, children are bred and trained from a very young age to be soldiers. Ender’s tactical genius is revealed and he is sent to Battle School. There, Ender further refines his skills but also becomes increasingly isolated. A thought-provoking book that analyzes both technology in war and the human condition, Ender’s Game is a crowd pleaser among science fiction fans. Off to Be the Wizard by Scott Meyer Scott Meyer’s Off to Be the Wizard is a delightful adventure with lots of fun. Martin discovers that reality is nothing more than just a computer program, so he has fun altering and â€Å"tweaking† it. However, when he gets in trouble, Martin travels back to the Middle Ages as a wizard while he figures out what to do. Of course, this causes even more trouble. Follow Martin’s (mis)adventures and you’re sure to enjoy the ride.    Dark Matter by Blake Crouch Delving into parallel universes, Black Crouch’s Dark Matter is a thrilling, mind-bending book. Jason, a college professor with a loving family, wakes up one day in a universe where his girlfriend never got pregnant. In this alternate universe, Jason is now a world-renowned researcher where his own theory has become a fully realized technology. Jason is determined to return to his family, but wicked foes stand in his way, including the darker parts of himself. With excellent character insight and an intriguing plot, Dark Matter is one that can’t be missed.

Benefit priniciple Essay Example | Topics and Well Written Essays - 500 words

Benefit priniciple - Essay Example No agency or governments funded their efforts or rewarded them. But in a rational world like the current one people are true professionals and they will think of cheapest and cost effective ways to maximize their benefits rather than the benefits of the society. â€Å"The marginal cost of a change is the additional cost caused by the change. The marginal approach suggests that one should make all the changes that increase benefits more than they increase costs (or that reduce costs by more than they reduce benefits). When all these changes have been made, one will find oneself at a point for which marginal costs equal marginal benefits. This rule for finding the best level of an activity is called the maximization principle.† (Schenk, 2008) for example an entrepreneur will make some changes to his product only if he feels that such changes will increase the product sale and thereby he can increase profit. Most of the Chinese products in the market are supposed to be of cheap quality. Still most of their products are putting immense fight with their competitors regarding the price. People are well aware that these Chinese products are of cheap quality, but still they will purchase it because of their utility against the price. â€Å"The Principle of Benefit Maximization dictates that whenever one is faced with a choice, the best decision is the one that results in the most good or greatest benefit for the most people.† (Kallio & Brenda R, 2003) For example, consider David Beckham is out form and England is playing against Brazil in a football match at Beckham’s home ground in England. Most of the coaches in such a situation will give Beckham an opportunity to play even though he is out of touch, in order to satisfy the spectators. Such a move can satisfy the majority of the Beckham fans in his home ground. The recent 1-2-3 nuclear agreement reached between India and America is

The Federal Reserve Essay Example | Topics and Well Written Essays - 2000 words - 1

The Federal Reserve - Essay Example The effectiveness of the role of the Federal Reserve System lies in the monetary policies of the bank. The responsibility of designing appropriate monetary policies is bestowed on the Federal Reserve System by the Federal Reserve Act in order to ensure availability of money and liquidity in the economy and to arrange for provision of affordable cost of credit in order to fulfil the national economic goals. The monetary policies of the Federal Reserve System are aimed at sustaining the level of productivity and create a balance between the supply and demand. The responsibility of the Federal Reserve System also encompasses controlling of inflation rates by fixation of appropriate interest rates in the financial system. The basis of the monetary policies of the Federal Reserve System lies in the inter bank lending policy (Mankiw, 2011). During the phase of revival from the period of recession in the current economy, the Federal Reserve System modified its monetary policies in order to boost consumption demand in the economy by undertaking policies to inject sufficient flow of funds. The interbank rates depend on the Federal fund rate which is determined by the Federal Reserve System. ... The discount rate is determined by the Federal Reserve System looking at the demand of the economy and providing credits to the banks in required rates to fulfil the demand of liquidity in the economy. The reserve fund requirements are the deposit base held by the banks as a statutory requirement with the Federal Reserve System. The decrease in the reserve requirement as determined by the Federal Reserve policy would help to inject more liquid funds into the economy. The current economic conditions which showed a financial crisis led to the need of increased direct lending by the banks and financial institutions (Allen, 1999). The Federal Reserve System played an important role in determining appropriate inter bank rate to encourage increase in lending for the business. This has been done through increase in open market operations by the Federal Reserve System that has led to the increase in the flow of liquidity ion the economy. A higher level of production in the current economic c onditions has created the stage for revival of the economy. This in turn has led to the rise in income levels of the people thereby boosting the spending in the economy. As the banking system was severely hit during the current economic recession, the Federal Reserve System adopted measure to increase the credit to organisations other than banks. The central bank engaged in liquidity swaps with the other central banks of other countries. The usage of derivative products raised giving hope to the recovery of economic conditions. Thus the roles and responsibilities of the Federal Reserve System have been highly significant in establishing a position of stability for the current economy. It is through the policies of the Federal Reserve

Research Methods for Managers Dissertation Example | Topics and Well Written Essays - 4000 words

Research Methods for Managers - Dissertation Example Data Analysis 18 Organizational variables and gender 19 Organizational variables and the profile variables: age, civil status, ethnicity, socioeconomic status, position and work experience 19 3.7. Resources Needed 20 4.0. Timetable and References 4.1. Timetable 21 4.2. References 22 4.3. Bibliography 25 5.0. Appendices 5.1. The Research Instrument 26 5.2. Coding Guide for the Survey Responses 30 5.3. Interpretation Guide for the Organizational Diagnosis 31 An organisational diagnosis of General Guardian Insurance Limited using the Weisbord six-box model : Inputs for internal strategy formulation 1.0. Introduction In a general context, organisational diagnosis may be defined as a tool by which specific knowledge pertaining to reality in an organisation may be established in order to guide managers and other decision makers in understanding the organisation as well as its essential elements, and in formulating necessary interventions (Grave, Gimenez, Mendez & Crubellate, 2001). An orga nizational diagnosis may be likened to a general medical check-up where individuals submit themselves to, not because there are perceptible or felt symptoms, but as a precautionary measure for health promotion. However, more often than not, people undergo a medical examination just a little too late when symptoms of illnesses are already apparent. In this regard, the old cliche that â€Å"an ounce of prevention is better than a pound of cure† also proves true not only for humans but also for organizations. Organizational diagnostics, like medical doctors, are applicable both for routinary check-up or as inputs for the formulation of interventions when issues arise which tend to compromise the overall efficacy of an organization. 1.1. Background Guardian General Insurance Limited (GGIL) was established some nine years ago as a purely property and casualty insurer. GGIL is not, however, a newbie in the insurance market. In fact, GGIL can boast of its 50-year experience under th e wings of Guardian Holdings Limited (GHL). As the new millennium dawned, GHL acquired a couple of big insurance companies in Trinidad – the NEM Insurance Limited, which specialized in property and casualty insurance in Trinidad and Tobago; and the Caribbean Home Insurance, which also maintained health insurance portfolio in addition to their property and casualty business in Trinidad and Tobago and Barbados. To date, GGIL is the largest property and casualty insurer which is purely Caribbean owned (GGIL, 2010). In the most recent statement published by GGIL top executives, management straightforwardly reported a loss of 821 million dollars, the organization’s biggest loss in history (Jack & Mack, 2010). The two executives, however, assured their clients that the GGIL board of directors â€Å"have the ability to analyze, and the skill to execute, on good acquisitions† (Jack & Mack, 2010, p. 6). Additionally, Jack and Mack (2010) affirmed that experiencing losses in any business is not acceptable and that the size of the loss is definitely painful. The loss was also admitted to be self-inflicted as a consequence of poor judgement on one acquisition. In spite of these developments, GGIL was declared to remain ‘solid as a rock’. Meanwhile, Tam-Marks (2006) maintained that the insurance industry in Trinidad and Tobago is now being regulated through risk-based examinations, as opposed to the previous practice of compliance-based and transaction-testing examinations. The present regulatory framework in Trinidad and T

Threat Of Substitutes And Bargaining Power Of Customers Marketing Essay

Threat Of Substitutes And Bargaining Power Of Customers Marketing Essay As mentioned earlier in part 1.3, I will be using Porters Five Forces to analyse the external environment to obtain a comprehensive understanding of a given industry. My focus here will be the fast food industry. BK is my chosen company to evaluate the effect of globalisation has upon fast food industry. The analysis will be done in four areas as below and there may be some overlapping of points as they can be interrelated. There are six major sources identified as barriers to a market entry which include economies of scale, product differentiation, capital requirement, switching cost, access to channels of distribution and government policy (Porter, 1980). All these have had impact on BK especially as from the point of view of globalisation. In my observation, it is very possible to open one or two outlets but to globally have a chain of outlets with the same branding requires tremendous capital requirements. Thus globalisation has directly impacted BK in the way it structured its business model through franchising. BK could afford to do so as with agreements such as US- Canada Free Trade Agreement and North American Free Trade Agreement (Reference for Business, 2010). BK took advantage of the relative free flow of resources under globalisation to expand globally. Franchising is a relative low cost and low risk business model. Most of the US franchisors often use this method to enter a new market with diverse economical, cultural and political environment (Alon, 2006). For instance, 88% of BKs restaurants worldwide are franchised in fiscal 2009, contributing to $412.5 millions of total revenue globally (Burger King Holdings Inc., 2009). Franchising enables the business to develop in an unfamiliar market relatively quickly on a larger scale, allows the use of local partners who are familiar with local environment and also to create a standardised, global brand image, generating marketing economies of scale (McDonald et al., 2002). Charts below will provide further information on BKs franchise restaurants. Chart 1: Percentage of BKs Franchise Restaurants and Company Restaurants Worldwide ( Burger King Holdings Inc.,2009; SEC Info, 2007) Chart 2: Revenue Breakdown From BKs Total Revenue Worldwide (Burger King Holdings Inc., 2009) However with globalisation, competition is globalised and relentless. McDonalds is actually BKs largest competitor as it provides better menu variety with more valuable and affordable prices (CNN.com, 2009), biting into BKs revenue by securing a larger market share. McDonalds is also more a pioneer compared to BK because it opened its first restaurant in 1940 (Spiritus-temporis.com, 2005) compared to BK with its first restaurant in 1954 (WikiAnswers, 2010). Being a pioneer, McDonalds has many advantages which includes entrenchment of position in consumers minds, creating higher thresholds for later entrants in terms of quality, advertising and distribution support, enjoys long-term market share advantages and reputation benefits (Gass et al.,2003). It is the effect of globalisation where McDonalds has built around 32,000 outlets in more than 117 countries (McDonalds Corporation, 2010). With its expansion into international markets, the company is famous throughout the world and is the leader in this industry followed by BK only at second place. The difference in number of outlets worldwide which also translates into sales volume differences between these two fast food chain can be seen clearly in the diagrams below. Chart 3: The total number of restaurants worldwide for BK and McDonalds. ( Burger King Holdings Inc.,2009; McDonalds Corporation, 2009) Chart 4: Comparison of Sales Revenues Between BK and McDonalds (Burger King Holdings Inc., 2009, McDonalds Corporation 2007; 2009, SEC Info, 2007) Based on the charts, McDonalds is approximately 3 times larger than BK in terms of outlet and 10 times larger in terms of sales revenues. Substantial capital is also needed in terms of advertising to build up BKs brand. The advertising cost of McDonalds is approximately 8 times higher than BK thus creating a higher barrier entry when BKs brand name is lacking compared to McDonalds. To compete with McDonalds, BK needs more capital to increase its advertising as it is very much needed in globalisation to introduce BK in new markets and building up its image that they may otherwise not known about (Coulter, 2001). To ease comparison of the advertising cost, it is illustrated in chart below. Chart 5: Advertising cost of BK compared to McDonalds (Burger King Holdings Inc., 2009; SEC Info, 2007; McDonalds Corporation, 2007;2009) With these type of cost outlays, for other competitors to come into the same scale as these two companies is extremely daunting indeed, thus the threat of entrants is low, though for smaller players is possible to find niches that are under or not exploited as yet. Luckily the advertising costs have resulted in branding, which builds a better image globally and flows ultimately into higher sales and profitabililty. Table below provides Best Global Brand Ranking 2009 highlighting few of BKs major competitors and where BK succeeded in positioning its brand among top 100 in year 2009. 2009 rank 2008 rank brand country of origin sector 2009 brand value ($m) 6 8 united states restaurant 32275 61 64 united states restaurant 5722 79 81 united states restaurant 3876 90 85 united states restaurant 3263 93 new united states restaurant 3233 Table 1: Best Global Brand Ranking 2009 (Interbrand, 2009) It is clear that BK lags behind McDonalds though in many ways this is to be expected given its much lower advertising cost outlays, which besides outlet costs, form a significant barrier of entry as mentioned earlier. 3.1.2 Product Differentiation With globalisation, BK differentiates itself from other fast food giants by acknowledging culture and country specific needs. For instances, Pork-based Bulgogi Burgers are offered in korea and the ultra-spicy Rendang Double in Singapore (Wikipedia, 2010). Picture 1: Pork based Bulgogi Burger Picture 2: Rendang Double (flickr.com, 2008 ) (therealnurulle.blogspot.com, 2010) BK also keeps its promise of Have it your way with customers having 221184 possible ways of ordering a Whopper meal (Swabey, 2007). This will help to ease its penetration into new market with different local conditions. BKs response to globalisation is obviously to cater to local tastes, as the pictures above testify. Another response to globalisation has been the move towards becoming more healthy by offering healthier menu with less salt and also with its product innovation to provide food with higher nutrition contents. At all times, BK is trying to differentiate itself to meet customers demands. Further details regarding food offerings will be mentioned in later part. 3.2 Threat of Substitutes and Bargaining Power of Customers Various global fast food chains have successfully make inroads in diverse market settings around the world (Watson, 2006). These restaurants stand the most conspicuous symbol of globalisation and modernity in countries worldwide (Wilk, 2006). Hence, they are often viewed as the cutting edge of emerging global consumer culture which have caused societies worldwide to become increasingly homogeneous and deterritorialised (Friedman, 2000). Although the expansion of Western quick-service eateries outside America and Europe has done much to transform established notions of service, taste and lifestyle (Schlosser et al., 2001), their spread has also given rise to rival domestic chains whose extensive knowledge of local preferences offers real advantages in attracting and retaining customers (Matejowsky, 2008). It is the strong bargaining power of customers which intensify the competition among various food chains with more substitutes available. To deal with these forces on a global basis, BK resorted to differentiate itself through innovative marketing and menu items. 3.2.1 Innovative Marketing BK has adopted a strategy which helps to differentiate them from their competitors. The company appointed TMP Worldwide Advertising Communications to create an exclusive company-wide employer branding campaign based on the concept Fun with a Future which concentrates on brand recognition, employee engagement and delivering on brand promise. BK decided to differentiate itself through its product and people with its employee as brand ambassador where all employees at all levels are linked to the company brand featuring in BKs advertisements and posters (Business and Finance Week, 2008). This is in line with the concept of globalisation where people of different races, culture and family background will have a common global identification as BKs brand ambassador. Pictures below feature BK employees who are of different races and cultures. Picture 3: Employees of BK in Tokyo Picture 4: Employees of BK in U.S. (associatedcontent.com, 2010) (farsons.com, 2010) BK also uses a creative marketing strategy by building an edgy, hip image with young men, who are targeted consumers (Jargon, 2006). For instance, in November 2006, BK began offering BK Xbox and Xbox 360 games with their value meals. After one month, 20 million of BK Xbox games had been sold. The games could only be bought with a value meal which means that BK attracted a lot of customers with this promotion, earning a nice profit from it. Comparing with BK, McDonalds on the other hand only places Nintendo mascot toys in their Happy Meals (Mattie, 2007). A picture of both BK Xbox and McDonalds Nintendo toys can be seen below. Picture 5: Burger King Xbox Picture 6: McDonalds Nintendo Toy ( blogs.ft.com, 2006) (toadcastle.net, 2006) The successfulness of BKs innovative marketing was already proven in 1999 in a TV campaign where Whopper was proclaimed as Americas Favourite Burger. That claim was based on the result of a research where 700 consumers were asked to name their favourite burger. 33% of them picked Whopper and only 12% chose McDonalds Big Mac (Cebrzynski, 1999). Having innovative marketing is a response to the threat of substitutes and bargaining power of customers as BK tries to embed itself on consumer consciousness globally. 3.2.2 Menu Options and Changes BK tries to reach out more customers through its menu to reduce threat of substitutes, which of course with globalisation is a full time and relentless force. As mentioned in part 3.1, health consciousness was rising among people with the obesity crisis hitting globally. It was found that United States tops the hierarchy for obesity with 30.6%, followed by Mexico and United Kingdom with 24.2% and 23% (NationMaster.com, 2010). Even though BK tries to blunt customers bargaining power and the threat of substitutes through aggressive marketing as seen above, in truth they are obviously much stronger with no switching cost. New Products Thus a response from BK is to try to be almost all things to customers. For instance, provide healthier food options. The company in its social responsibility statement promises to work with its trained chefs and nutritionist to develop new menu options that meet customers nutritional needs globally (Burger King Holdings Inc., 2010a). BKs efforts could be seen when it unveiled a healthy eating adaptation of its Have It Your Way strategy where posters in restaurants tell customers how to order a low carbohydrate, low fat and low calorie meal (Walker, 2004). The famous Whopper can also be served without the bun, mayonnaise and ketchup (MacArthur, 2004). BK also launched a new salad line offering shrimp and sirloin steak with grilled peppers and onions on it (Walker, 2004). Besides, health drive was initiated by BK by reducing salt and fat content in burgers and fries. Even children are targeted where childrens menu also comes with a choice of apples or grapes, milk or fruit juice (Forte, 2006). In 2008, BKs kids meal underwent makeover with the introduction of apple fries as part of the meal (Burger King Holdings Inc., 2010b). A list of BKs healthier options with their calorie contents are provided in Appendix 3. Pictures below show two healthy options from BK. Picture 7: Kids meal with Apple Fries Picture 8: Bunless Whopper (fastfood.ocregister.com, 2009) (hungry-girl.com, 2010) In addition, BK also later launched its Joe Coffee. This made-to-order coffee processed from 100% Arabica coffee beans (The Franchise Mall, 2005). This is actually a response to global economic crisis where it was found that consumers were trading down from more expensive coffee such as starbucks into lower ranking choices, providing a perfect option for BK. Thus even though globally the economic situation was dire, for instance it was found that 2009s world economic growth rate was only half percent (International Monetary Fund, 2009). BK found a new market segment to exploit to further reduce the threat of substitutes and bargaining power of customers. Latest initiatives include where in February year 2010, BK decided to replace its own coffee brand BK Joe with Seattles Best Coffee, a brand owned by Starbucks to increase falling sales by improving its product offerings (Tice, 2010). Pictures below show BKs Joe Coffee and its replacement, Seattles Best Coffee. Picture 9: BK Joe Coffee (ebay.com, 2010) Picture 10: Seattles Best Coffee (myalohavibe.com, 2010) BK also imitated a McDonalds breakfast item. BKs Breakfast Muffin Sandwich was promoted through an advertisement where a cleverly disguised BK breaks into McDonalds Headquarters to steal the Top Secret Blueprints for the Sausage McMuffin With Egg (Dave, 2010). Picture below shows the contrast between the two breakfast offering from McDonalds and BK. Picture 11: McDonalds Sausage McMuffin with Egg Vs BKs breakfast Muffin (davescupboard.blogspot.com, 2010) New Pricing It is not just menu changes were offered but also menu pricing as well. To meet the changing economic conditions as an impact of global recession, BK also announced that it will offer $1 double cheeseburger in order to gain market share back from McDonalds (Johnson, 2007). This has cause BKs franchisees to file a law suit challenging BKs right to dictate maximum prices as the products costs is at least $1.10 per sandwich (Glover, 2009). Thus even though BK tries to satisfy customers other stakeholders may not be happy, showing the complexities in managing relationships in the era of globalisation. Further in many ways, as seen in breakfast, and even in pricing, since the RM $1 cheeseburger, BK is imitating McDonalds. 3.3 Bargaining power of suppliers With globalisation, BK is required to maintain the quality of services in its restaurants worldwide. As a measure of quality control, BK will evaluate before approving the existing or potential manufacturers and distributors of food, packaging and equipment products used in the restaurants. Evaluation is done based on their delivery, timeliness and financial conditions. To ensure consistency, franchises are required to purchase their products from approved suppliers. (Burger King Holdings Inc., 2009). 3.3.1 Purchasing Power of BK Restaurant Services Inc. (RSI), a not-for-profit independent purchasing cooperative leverages purchasing power of the BK system in United States by negotiating the purchase terms for most equipments, food, beverages, toys and paper products used in the restaurants (Burger King Holdings Inc., 2009). RSI currently involves in the negotiation of purchase with BK for more than $3 billion a year in goods and services, managing supply agreements with over 300 suppliers and 27 distributors (Sterlingcommerce, 2009). For company restaurants and franchise restaurants in Canada, a subsidiary of RSI is responsible to purchase the products. However, there is currently no appointed purchasing agent that represents franchisees in other international regions. BK will work closely with their franchisees to implement programs that leverage their global purchasing power and to obtain lower product costs outside the United States and Canada. (Burger King Holdings Inc., 2009). Globalisation has increased the purchasing power of BK and therefore reducing bargaining power of suppliers with the ease of selection of suppliers who meet the company criteria 3.3.2 Suppliers of BK Food As a global fast food chain, it is important for BK to maintain its brand name worldwide. The image of the global brand could be destroyed in a day due to globalisation where news travels billion times faster than it used to be in the past. BK was labelled Murder King by animal activists forcing the company to implement new policies that are more closely monitor its suppliers. Thus by 2001, there were guidelines that require the egg suppliers battery cages to contain two water bottles, allowing the birds to stand upright and be at least 75 square inches (Detweiler, 2001). BK further discourages its suppliers from trimming chickens beak and breaking their wings to save packing space when transporting (Detweiler, 2001). Reports in media of one or more cases of food-borne diseases in one of BKs restaurant also negatively affect its sales worldwide when being highly publicised (Burger King Holdings Inc., 2009). During an earlier case in year 1997, BK cut off its ties with one of its biggest beef supplier, Hudson Foods Inc. as its beef supplies were contaminated with E.coli..Hudson voluntarily recalled the beef after the severity of E.coli contamination was discovered at its plant in Columbus, leaving some BK restaurants without sufficient beef supply for 24 hours to 48 hours (Papernik et al., 1997). Soft Drinks In fiscal 2000, BK decided to enter into a long term contracts with The Coca-Cola Company and Dr Pepper/Seven-Up Inc to supply all restaurants of BK in United States with their product (Burger King Holdings Inc., 2009). BK prolonged its long term liaison with The Coca-Cola Company as an approved soft drink supplier for its international region covering Greater Europe, Latin America and Asia-Pacific (PRNewswire, 2003). With the effect of globalisation, consumers in around 200 countries enjoy Coca-Cola products of more than 1 billions servings per day (The Coca-Cola Company, 2010). BK International President believes that with this renewed alliances, Coca-Cola Company, recognised as the worlds best known brand (The Coca-Cola Company, 2010) will help to grow the BK brand rapidly by providing the best burger experience to their consumers in all restaurants globally (PRNewswire, 2003). Getting into alliances with suppliers is a good way to also set up higher barriers of entry. From my analysis, bargaining power of food suppliers are strong but over soft drinks especially in terms of dealing with companies with strong brand name is weaker. Obviously, the extent to which the other party uses branding and distribution network as leverage globally as well. Employees Other than external suppliers, internal supplier is also an important piece of puzzle which without, BKs supplier network would not be complete. Hence, the bargaining power of its employees should not be shoved aside. BK had approximately 41320 employees in its company restaurants, field management offices and global headquarters as at 30th June 2009 (Burger King Holdings Inc., 2009). As mentioned in part 3.2.1, there are diversity of employees with different backgrounds, race, religion and cultures. It is clear that like globalisation, the factors in Porters Five Forces are interlinked and do not stand alone. The success of BK is highly dependent on its ability to attract general managers with necessary competences to be part of the management team to motivate the employees to sustain high service levels and maintain sales growth. The competition for the right employee candidates causes higher payment of wages featuring the high bargaining power of employees (Burger King Holdings Inc., 2009). However, where boundaries between countries became narrower and communication made easier with globalisation, the search for the right employee is more efficient and effective through online application, which could perhaps reduce their bargaining power. The selection of employees is important as a wrong choice would lead to negative publicity. In one of the cases, a BK employee in Jacksonville had tried to poison a customer as he was pissed due to his suspension for misconduct (Morbid, 2010). In another case, a Washington State Deputy, Edward Bylsma after discovering a spit on his Whopper ordered fr om a BK employee decided to sue BK seeking $75,000 of compensation (Ryan, 2010). No doubt with globalisation, these news would definitely spread fast and adversely impact the companys brand. Further, since a large portion of outlets are franchised as a result of BKs decision on this bus model to move globally, employees become even more important as front link assets to keep sales and profits up. With payroll expenses on the increase as seen in the chart below, it is clear that for employees, their bargaining power is, in my opinion, rated medium to high. Chart 6: Payroll and Employee Benefits for BK ( Burger King Holdings Inc., 2009) 3.4 Rivalry among Existing Competitors Globalisation has increased the competition among the fast food chain. With various quick service restaurants mushrooming worldwide, other than competing on a national or regional basis, they are competing with each other globally. As an effect of globalisation causing increases in degree of awareness among consumers, there has been intense competition among the competitors globally to gain market share. Increasing prices of raw material, agitation by social organisations, slow down of U.S economy and also increasing fuel prices has prompt many fast food chain to divert their attention to eastern part of the world especially China ( Naim, 2008). Although globalisation has ease the expansion of fast food chain worldwide with the ease of information transfer and seeking global suppliers, entry into China and other Asian countries still pose logistical and political challenges. As quoted from Martin (1994) in Nation Restaurants news Among the most frustrating obstacles are the scarcity and inordinately high cost of prime locations in most markets as well as the steep tariffs and patchwork of inconsistent regulations that impede imports of commodities and equipment. 3.4.1 New Geographical Regions and New Ventures Taking a closer look, even though globalisation has blurred boundaries, there are still differences in cultural issues between United States and other countries resulting in different eating habits of consumers ( Glazer, 2007). From consumer point of view, globalisation has resulted from development of sophisticated media contributing to the creation of a borderless market but it does not mean it is without internal differences or local tastes (Ziedman, 2003). When a company goes global, they are bound to satisfy the demands of local customers. For example in India, cows are sacred and worshipped by the Indians, beef could not be served and the muslims, they could not consume pork (Kulkarni et al., 2009). Hence, it is a must to substitute the beef and pork in the product offerings. To further compete globally, BK invested in Whopper Bars. BK opened their first Whopper Bar in Orlando during spring 2009, and the first in Asia in Singapore during September 2009 (International Wire, 2009). It offers a specialised burger menu with more than 20 toppings (Ruggles, 2010). On 8th February 2010, BK further announced that beer sales will be added at a new unit opening in South Miami. ( Ruggles, 2010). BK changes may not be rapid enough to obtain further market share from McDonalds but the company has been spending more effort in improving its sales in this global competition ( Anderlini et al., 2010). Competing on a global scale gives rise to global income streams. This would help BK to sustain the worldwide competition where the profit from a restaurant would balance the loss in another. The pie charts below show the distribution of revenue from different geographical region. Chart 6: BKs Geographical Sales from Year 2007-Year 2009 (Burger King Holdings Inc., 2009) In a way, the company is more dependent on its home market, as showed in the pie chart above where most portion of global stream income is generated. In a recent case in 2009, BKs advertisement for Texican Whopper burger in Europe had angered the Mexicans where a small wrestler featured in the advertisement was dressed in a cape resembling a Mexican flag. Mexicans have high respect for their flag and therefore could not tolerate such an insult from BK ( The Assiociated Press, 2009). This adverse publicity could have adversely impact its profits. Still, the company had not done unduly badly as seen in the charts below. Chart 7: Revenue, Gross Profit and Net Profit of BK from Year 2005 2009 (Burger King Holdings Inc., 2009, SEC Info, 2007) It is clear that BK has done well as seen in increasing absolute figures of all sales, gross profit and net profit. A look at gross profit and net profit margin also shows that on a relative basis the company is handling itself well in the world of globalisation. Chart 8: Gross Profit Margin and Net Profit Margin of BK from Year 2005- 2009 (Burger King Holdings Inc., 2009, SEC Info, 2007) Even though Gross Profit Margin has been decreasing slightly, its net profit margin has been increasing with a drastic improvement from year 2006 to 2007. This is definitely a good sign. 3.5 Conclusion and Recommendation Globalisation can be a threat to the company and also it may help its expansion. Being a global brand, BK has a lot benefits which include cost-efficiencies, sharing of resources and ability to attract partners, employees and customers on entering new market. It all depends how the company took opportunities and work towards their goals. Management of globalisation is the key to success and most importantly, BK need to balance between global and local control (Samli, 2008). The company has retreated back to the US market, which is why the share prices have been sliding back down in recent times as seen below. Chart 9 : BKs Share Price Ups and Downs from 2001 till 2010 ( Yahoo Finance, 2010) Recommendations made to companys performance are as follows: Moving In Developing countries, Especially India and China Aggressively: India and China both has a steady high economic growth rates of 8.8% and 10% in 2010 (India Brand Equity Foundation, 2010) and will probably be the major players in the world economy. It is definitely a wise option to expand BKs growth in these two countries by using local partners, local employees and local ingredients. Furthermore, BK could also offer limited promotions during festive seasons or special events, for instance during Chinese New Year or Deepavali as this will help to attract more customers during that period. Broader Menu Selection: As mentioned earlier in the project, BK should continuously provide more choices of menu which allow customers to pick from wider choices. This step should be taken to also reduce threat of substitutes from new entries and existing competitors. Its product offerings must also be ensured to meet the local taste. As mentioned by the officials of market research firm of the NPD Group, quick service operators who are expanding their brands outside the United States must customise each unit to meet the specific needs of consumers in the country and region they seek to enter (Glazer, 2007). Promotions and Advertising: As observed so far, BKs advertising has been giving positive impact on its sales. Hence, BK should continuously invest in its promotions and advertisement to gain market share. BK could perhaps invite its employees to give their opinion as they are also the brand ambassadors. This would allow a fresher and a more creative in flow of idea and to boost the motivation of the employees as they are invited to participate in the companys program. However, BK should avoid price wars with its competitors ie. McDonalds as this would pull down the profits of all burger chains. BK should choose to differentiate from its competitors. There is only one winner in cost strategy but there may be more than one winner in differentiation strategy. Relationships with Franchisees: There has been cases where the franchisees are not happy with the decisions of BK Inc..The most obvious example is the sale of doublecheese burger at $1. BK should strengthen its ties with the franchisees by encouraging them to provide ideas and feedbacks on how to improve sales. When there is a disagreement between them, BK should understand the reason behind and to solve it on a win-win situation. If this could be practised, law suit against BK Inc. could be avoided. In conclusion, Porters Five Forces Analysis that was used to analyse BKs stand in the industry gives a birds eye view of the company and industry globally. Globalisation plays a major role in pushing and shaping the company. The survival of BK is dependent on its ability to adapt to constant changes in business environment due to globalisation. With BKs effort in improving its performance, it will definitely survive in this field and could perhaps be the number one fast food chain worldwide in the future.

The Witch Trials of 1692 :: American America History

The Witch Trials of 1692 During the winter of 1692, in the small village of Salem, Massachusetts, something terrible happened. Salem Massachusetts became the center of a horrible tragedy, which changed the life of many people. It was a time of fear, because of bad crops, Indian raids, and diseases. The people of Salem Village had to blame something, or someone. The people of Salem Village accused people, and called them witches. They were accused of all those terrible things and more. Salem Village was a small, farming community with a population of 550. It was smaller than Salem Town, and about eight miles away. Salem Town was a large port, and was a prosperous fishing community The two towns had the same minister, and used the same church as the people in Salem Village. At that time there was two groups in the village. Those who wanted to be separate from Salem Town, and those who did not. Samuel Parris was the minister of the group that did want to be separate. He helped divide the groups even more by his sermons. He called the group that did not want to separate, evil and bad, and the group that did, good and righteous. The Reverend Parris and his wife had two children living with them. They were Betty, their daughter, and Abigail, their niece. Abigail and Betty were the reason that the trials started. Before becoming a minister, Samuel Parris had failed at being a merchant. All he had to show for all the long hard years of being a merchant, were the family slaves, Tituba, and her husband, John Indian. Abigail and Betty Parris were having their fortunes told by Tituba, behind their parents backs. Betty started having fits, possibly because she could not bear to keep secrets from her parents. Abigail also started having fits, and instead of getting into trouble, they became popular and respected. Soon, other girls joined in. Most of the afflicted girls lived in the houses of the Parris's and the Putnams, which were the Reverend's family and friends. During the fits, the girls screamed, rolled their eyes back into their heads, shook, and twisted their bodies into impossible positions, and accused peop le of biting and pinching them. They accused people that were against Samuel Parris, or had an argument with the Parris's, or the families of the other afflicted girls. By the end, they had accused most of the people that were in conflict with the new church, or their families.