Produt P Is Most Important in Marketing Mix - 1186 Words

THE PRODUCT ‘P’ IS ALWAYS THE SINGLE MOST IMPORTANT ELEMENT IN THE MARKETING MIX Definition of Marketing Mix According to Philip Kotler - Marketing Mix is the combination of four elements, called the 4Ps (product, Price, Promotion, and Place), that every company has the option of adding, subtracting, or modifying in order to create a desired marketing strategy Marketing Mix was first coined by Neil Bordon, the President of the American Marketing Association in 1953 and is referred to as the set of actions, used by a company or organisation to promote its product or service in the market. A typical Marketing Mix is made up of 4Ps – Product, Price, Promotion and Place. These 4 Ps were introduced by the marketer E. Jerome McCarthy†¦show more content†¦On basis of price, positioning is done. And on the basis of positioning further affect the place and promotion decisions are made. Thus all the 4 Ps of marketing mix go hand in hand. For example, Coca Cola is the one of the leading providers of soft drinks in the world. Coca Cola has maintained affordable prices due to its rivalry with Pepsi. It is available at all leading stores, and promotion is done on the television, newspapers and in stores etc. So all the elements have to be kept in mind by the marketer to market his product. Conclusion At the end, we conclude that the product ‘P’ is not the only important element in the marketing mix. No single element in the marketing mix carries more importance than the other. Each and every element ideally supports the other elements. There is no single element of marketing mix that works alone for any business. To create the right marketing mix, a marketer has to consider a product with right features, with the right price, make sure that the goods are at their right place on right time and promoted successfully. All the variables of the marketing mix are influenced with each other. They are used in constructing the business plan for a company and if all elements are placed rightly then success is achieved. In case if a single element goes wrong then it can lead to disasters. These 4 components are a part of marketing mix strategy because these elements are to be

Personal Statement Minecraft Essay - 750 Words

Minecraft Username: KingBayley Age: 13 Previous Experience: I Have Owned A server in the past, I have Moderated Several Servers in My past years of playing Minecraft, When I m Staff of A server I tend to Always be on [ Even if its Around 4 AM, I m Very Active On mc either Way Since I have Owned A Server and still Do have the files of one, I Know a lot of HCF commands and Normal Commands, I could help New Players Out, No Matter The QuestionI have Been Playing Minecraft Since Alpha Versions So I Know Quite a lot of things when it comes to this game. Timezone and Country: EST Canada Estimated Schedule: Monday to friday 5 hours weekends 8-10 Skills and Reasons: I am a person who shares a natural obligation and heavy dedication to those in need of a correct moderation. I will be there to help them with confusion/questions for hours worth of time as well!. I m a nice guy that hates seeing people being harassed IP s getting leaked and other things that could hurt a living human and ppl hacking so I wanna help and I think some other people just want to be staff cause its cool and then they wanna boss over a lot of people and i want to prevent that too if I get higher staff in future (if I even get staff) my main focus will be on hackers and chat modding if I get accepted and make so everyone has a good time that none gets harassed and overall help the server a lot and make it even better than it already is. There is a very clear reason in my head that makes me believe I amShow MoreRelatedPersonal Statement : Minecraft 1176 Words   |  5 PagesMinecraft Username: WORTHFUL​ Age: 16​ Previous Experience: I have been staff member on many other server s,here is some of them : HydraPvP, ParaPvP at map 4-5 but I resigned because I quited minecraft, OvidPvP and one more that was my own and my friend s. but I am back to minecraft, after i quited for about 2 months ago, and everything I have done is playing on ParaPvP and I think im still good at been a staff Member, I have also played alot of Faction in my past, and I know its a hacker whenRead MoreWhat Server Are You Applying For? Essay1004 Words   |  5 Pages- I am applying on Annihilation. - I have been playing Minecraft for quite a long time now, and my first server is MCW ( my first server I joined), and the server game I played is Annihilation. - I have always been interested in being a staff member on the server because I wanted to help and show my hard work of being a public servant and a good friend. What is your current level of knowledge on MC MCW? : - I started playing Minecraft since 2014. So I do know some of the commands. I haveRead MoreDoes The Internet Make Children Smarter? Essay1684 Words   |  7 Pages With these higher grades, these children can be in better universities and have better jobs in the future all because of the existence of the internet. Now as for those type of people who disagree with this statement that the internet isn’t making these â€Å"poor children† smarter, but instead makes them cheaters. This is also a well-known topic people have talked about. Sure, the internet can turn children into cheaters by typingRead MoreThe Use Of Avatars And 3d Virtual Worlds1845 Words   |  8 Pagesabout whether the embodiment of avatars in modern video games can have an effect on the human mind and whether these effects are positive or negative. Games like Minecraft continuously place players in problem-solving situations therefore directly developing the player’s cognitive processes and affecting their minds in a positive way. Minecraft can be played in two different game modes. The first is â€Å"Creative Mode† and the second is â€Å"Survival Mode†. The basics of the game are to break down resourcesRead MoreTechnology Addiction Essay768 Words   |  4 Pages Technology addiction is perceived as a major problem by the majority of American parents. In Bergman’s â€Å"Don’t Limit Your Teen’s Screen Time†, Bergman uses his personal experience as both a parent and as an avid technology user to justify his argument that screen time limits have negative effects on children. On the other hand, in Boyd’s â€Å"Blame Society, Not the Screen Time†, Boyd blames the American Education system, and parents for technology addiction in children, and proposes that children shouldRead MoreVideo Games And Its Effect On Children2066 Words   |  9 Pagesindustries MPAA. There are many different variables to consider when determining the effect a video game may have on a person in their aggressiveness. Eastin writes out the various outlets stating, â€Å"Video games can be played through smartphones, personal computers, portable gaming devices, or home console systems† (Eastin 378). PC tends to be the most engaging as it is the closest to the player and is often played with headphones to be the most immersive experience possible. It is also the most

Strategic business management of Cochlear

Ques:Asks about the appropriateness of a directional strategy. A course of action is suggested. Should Cochlear adopt this course of action or not? Why or why not, given the state of the external environment (PEST and 5 Forces) and the firm (value, core competencies and value chain analysis). Contents Introduction. Environmental Analysis. PEST ANALYSIS. Political Factors. Economic Factors. Social Factors. Technological Factors. Micro environmental analysis. PORTERS FIVE FORCES ANALYSIS. Existing market rivalry among the competitors Bargaining Power of Suppliers Bargaining Power of Customers Threat of New Entrants Threat of Substitute Products Internal Analysis of Cochlear Value Chain analysis Infrastructure Human resource management Technology development Procurement Operations Core competencies Cost Leadership Product differentiation Conclusion Works cited Introduction Cochlear is an Australia based company providing hearing solution across the globe. It has been delivering innovative solution for more than three decades. The global leader focuses on innovation for gaining competitive advantage. Cochlear is directly operating in thirteen countries across the world. For other countries the products of Cochlear is sold with the aid of the local distributors. Cochlear focuses on providing value to its customers through its high quality products as well services. Innovation is focused on enhancing the consistent and positive customer experience. It has developed a customer information system for delivering products and services in accordance with the need and preference of the customers. The small electronic device invented by Cochlear assists a deaf person to hear. The technology adopted by Cochlear is improving in order to provide better service and customer satisfaction[1]. In the present competitive market Cochlear needs to adopt strategies for gai ning sustainable growth through competitive advantage. In order to identify and design generic business strategies, the external as well as internal environment needs to be analyzed. Strategic tools such as PEST analysis, Porters five forces analysis, and value chain analysis can assist in development of generic strategies for Cochlear. Environmental Analysis Development of business strategies requires understanding about the market environment. PEST analysis is a strategic tool that emphasizes on analyzing the macro environmental factors such as political, economic, social and technological components of the market in which the organization is operating[2]. This analysis will help in understanding the market position, potential of the business and future directions of the operations. In this section, PEST analysis for cochlear will be conducted for gaining an insight about the external environment. PEST ANALYSIS PEST analysis of Cochlear will analyze the four macro environmental elements for understanding the present external market environment for Cochlear. Political Factors Political factors refer to the degree of government intervention in the business, economy and policies. Government of a nation has great impact on education, infrastructure, health, economy of that particular country. As Cochlear is directly operating in various countries it needs to align its activities with the legislative framework of each country[3]. Government policies of Australia support the innovative activities by private organizations. Political stability in Australia has a positive impact on the business practices of Cochlear Limited. Tax planning aims to boost up the national economy. The stable government policy of Australia has a positive impact on the business activities of Cochlear. As cochlear belongs to the medical technology industry, it has abide by the regulations of the concerned departments. Regulatory implications in the medical industry have significant value and it can affect the growth and business position of the organization. US Food and Drug Administrati on has major role to play as a regulator of this industry. Cochlear Limited needs to get approval from the US Food and Drug Administration before selling it in the market of United States[4]. These are the major aspects that needed to be considered during the strategy development of Cochlear Limited. Economic Factors Australian economy is one of the largest economies of the word. In terms of nominal GDP Australia is ranked at 12. In 2013, Australia had experienced a GDP growth of 2.5%[5]. It has been observed that the greatest contribution in the GDP of Australia is made by the service sector followed by industry. Presently, the inflation rate of Australia is 2.7% [6]and the unemployment rate is 6.1%[7]. As the Australian government has focused upon the developing the manufacturing sector, it has contributed in the economic growth of the country. Australian foreign trade has shifted for Europe and North America to the emerging markets of East Asia. Recently a rapid growth in the Australian population has been observed and it leaded to a drop in the per capita GDP[8]. In the growing economy of Australia, there is a lot of opportunities for the trade and investment. The growing population and the open trade network has provided great environment for business in Australia. World class infrastructure has provided opportunities for the industries. The government of Australia is focusing upon enhancing the infrastructure investment for boosting up national as well as foreign investments. The transparent business environment and strong trade credentials of Australia have been attracting increasing number of investors[9]. The strength of the Australian economy and the consistent growth has a positive implication on the business activities of Cochlear Limited. In Asian countries, the demand for Australian resources and services are growing. The Australian government considers private investment as key for future economic growth. It welcomes the private organizations to investment in the economy of Australia. It has provided easy financing opportunities to the private sector. This strategic approach of the Australian government has developed a positive economic environment for Cochlear Limited. Moreover Cochlear is directly operating in many countries such as United Kingdom, France, Germany, and Switzerland which has a stable and robust economy . Social Factors Social factors have significant impact in the strategic design of the business activities. If the social structure of Australia is analyzed, it can be found that the population is growing and it has a positive implication of the industry. Cochlear Limited belongs to a medical technology industry which is also growing in order to provide better service to the growing population. It has been fund that almost 4 million people in Australia suffer from disability. It means one out of every five Australian have a disability. The disability can be supported by technological and medical interventions. Hence, the medical technology industry has major role to play in delivering service to the people o Australia. According to the Australian Network on Disability, 3.4 million Australian suffer from physical disability and among those 30,000 people in Australia has been affected by hearing loss. It implies that one person out of six suffers from deafness in Australia[10]. Hence, Cochlear Limited has lot of opportunities and business prospect in Australia. Moreover, according to the World Health Organization (WHO), almost 360 million people have the disability regarding hearing loss. Additionally, it has been estimated that 5% of the global population are deaf. Among them 328 millions are adult and 32 million children are suffering from hearing disability. Almost one third of the global deaf population is belonging to an age group of above 65. This trend has been more predominant in Asia pacific region, South Asian countries and sub-Saharan Africa[11]. Hence, there is a growing demand for hearing aids across the globe including Australia. Technological Factors Technology plays an important role in the cochlear industry as technological innovation helps in developing new products. Development of implants and bone conduction implants extensive technological support. In Australia, technological advancement has added a new dimension for the medical technology industry. Technological innovation has helped the industry to develop new products for hearing solution[12]. Cochlear needs to develop effective and long term hearing aid solution for the global customers. It aims to provide service to its client for life time. In order to achieve customer satisfaction, technological innovation is essential for Cochlear Limited and the technological support can obtained from Australia. The PEST analysis of Cochlear Limited provides an insight about the external environment. These factors must be taken into consideration while developing the operational strategies of the organization. Thus the opportunities in the external environment and issues regarding political, social and economic environment can be identified by Cochlear. Micro environmental analysis In order to develop business strategies for generating competitive advantage, an organization must analyze its present industry. It will provide an idea about the major factors such as competitors, suppliers, buyers etc and their power in the industry. In case of Cochlear Limited, the industry needs to be analyzed for identifying the major business strategies that can aid in achieving sustainable growth. In this section the micro environment or the medical technology industry needs to be examined with the aid of an effective strategic tool Porters Five Forces analysis. PORTERS FIVE FORCES ANALYSIS According to Michael E. Porter, an organization must consider five major factors that have predominance in the industry. If an organization gets an idea about the strength of these principle five forces, it can develop its strategy for the competitive global market. The five forces for hearing aid industry are discussed below: Existing market rivalry among the competitors Cochlear has potential number of competitors operating in the global market. Presence of strong competitors is generating continuous threat for the global leader in the hearing aid solution to the customers. Biggest competitors of Cochlear in the global market are Advanced Bionics, Resound, Beltone, Sonic, Oticon, Siemens, Phonak, Starkey etc[13]. All of them have adopted advanced technology for innovating new products in order to deliver life time solution to the hearing loss. Cochlear Limited has been receiving tough challenge from its competitors who has global presence. Adoption of new technologies and reaching to the potential customers are the major factors for gaining sustainable growth. Hence, it can be concluded that high competition in the global market exist in the cochlear implant industry. Bargaining Power of Suppliers Intensive research and development has helped in designing and producing cochlear implant mechanisms. Technological advancement is a major factor for developing these products. Rapid technological innovation has leaded to growth of medical technology industry. The bargaining power of suppliers is high as there is few numbers of suppliers who are responsible providing technological support to the organization. As suppliers are limited, they have significant power to dominate the market. Cochlear must focus on maintaining healthy relationship with its suppliers[14]. Moreover, suppliers must be chosen in such a way so that the quality of the product is not compromised. Hence, from the analysis it can be concluded that the bargaining power of suppliers is high in this industry. Bargaining Power of Customers Bargaining power of customers depend on the demand and supply of the product. According to World Health Organization, the existing global supply of hearing aids fulfills less than 10% of the actual global requirement[15]. It can be implied that the demand is much higher than the supply. It will take more time and enhanced production to meet the global need of hearing aids. As the number of potential customers is significantly higher than the actual production, the power of customers is very low in this industry. Hence, it can be inferred that the bargaining power of the customers is very low in the industry which has a positive impact on Cochlear. Threat of New Entrants Medical technology is a capital extensive industry and it creates a barrier for the new entrants. As the RD expenditure is huge in the cochlear implant, it is very difficult for the new organization to achieve economies of scale. Hence, it is a major barrier for an organization to start its venture in this industry. Moreover, the global leaders in this industry have already achieved customer loyalty as well as economies of scale[16]. High profitability of the market leaders aids them in investing huge amount in research and development for continuous innovation. Thus, the existing market leaders will gain competitive advantage through continuous improvement. Hence, it can be stated that the threat of new entrants in lower in this case. Threat of Substitute Products The cochlear implant focuses on providing life time solution to the hearing loss problem. External hearing aid is a substitute product for the cochlear implant. However, it does not provide long term solution and it does not cure the complete deafness. Presently, there is no medical treatment or device that can cure complete deafness for life time. Cochlear Limited need not to focus on the issue of substitute products. Hence, no potential substitute product has been found for this industry. Therefore, it has been found that the threat of substitute products is very low. Internal Analysis of Cochlear: The future success of a company depends on the conditions that are prevailing internally in the organization as well as the external conditions. Identification of the strengths, weaknesses, opportunities and threats of the company are crucial so that the company can solve the major issues affecting its growth. A company can gain competitive advantage only if it can set itself apart from its competitors. Value Chain analysis Infrastructure Cochlear is growing rapidly and has a well developed infrastructure at its head office in Australia. Cochlear mostly relies on IT infrastructure to support the wide range of business processes. From research and development to logistics, the entire operation of the company is based on IT infrastructure. The infrastructure of research and development is developed enough to promote the growth of its products. But it has faced challenges in its infrastructure development in the European organization. The European organization was struggling with the power supply. The IT infrastructure in the European organization is not at par with the other offices. It was costly to maintain the vital servers at the European centre. The affair was time consuming and it was hampering the work at Cochlear. The backups were risky and recovery was disastrous. To overcome this problem in IT infrastructure at the European centre, Cochlear made a partnership with IBM Business Art of Computing. They developed an IT infrastructure for Cochlear that would smoothen the work flow at the centre. Their energy efficiency increased along with increase in productivity. This change in infrastructure resulted in reduction in carbon footprint. It lowered the costs of 80 servers to 15 servers[17]. Human resource management The major strength of Cochlear is its employees. They work as a team. The employees of various departments like research and development, sales and marketing, customer service work in collaboration to one another to develop new products and provide customer service. The employees are encouraged so that they can communicate openly. New ideas are always welcomed. The teams strive for excellence. The wages of the employees are competitive and based on performance. Benefits are provided to employees on sound achievements. The recruitment program at Cochlear is transparent and based on merit. The recruitment provides opportunity for new clients. Technology development The technology used in Cochlear meet the needs of the product. It is a combination of CI surgery and stapedectomy. Cochlear has three basic solutions for hearing problems. They are cochlear implant hearing solutions, hearing solutions provided by bone conduction and hearing solutions which uses electric acoustic mechanisms. Cochlear implant is a medical device which functions electronically and replaces the damage that is caused by the inner ear. It helps to provide sound signals to the brain. Like other hearing aids it does not make the sound louder. The advantage of cochlear implant is that the implantation occurs by bypassing the damaged hair cells of the cochlea which aids proper hearing. Cochlear has developed another product which has gained competitive advantage to the company is its bone conduct implant. It is a medical device which transmits sound through bone to inner ear. It bypasses effectively the middle ear and the outer ear. Bone conduction implant is made up of small titanium implant abutment and a sound processor. The transmission of sound takes place in the form of vibrations. The vibration reaches from the sound processor to the implant. Then it passes the through the bone to the inner ear. It helpful for patients who have problem in the outer and middle ear. It helps to localize the sounds. It helps to gather natural sound and promotes improved understanding of the speech. This implantation works even someone is totally deaf. Apart from cochlear implant and bone conduct implant, Cochlear has several hearing aids which aid in capturing the sound. It makes the sound louder and sends the sound down the ear canal. Through the ear canal the sound passes to the inner ear where the hearing nerves are there. It is helpful for patients whose sensory cells are damaged due to aging. Some patients have damaged ear as they are exposed to loud noise. Some patients have hearing problems as a reaction of drug and some have hearing problems which are hereditary [18]. Procurement: The process of procurement of raw materials at Cochlear aims in reduction of cost. Purchasing costs are minimized to maximize the profit of the organization. Cochlear offers best prices to its customers. The company procures the goods directly from the manufacturer. They bypass all the intermediaries in order to reduce the purchase costs. Operations: Research and Development: The research and development at Cochlear aims at providing hearing solutions for children and for adults. The hearing solutions are implanted. It aids hearing problem issues internationally. It has a well managed research team which aims at continuous improvement of the product at Cochlear. Cochlear implants are provided for sensoneural loss of hearing which ranges from moderate to severe. Deafness which are single sided, mixed hearing loss, electro acoustic implants are the major services at Cochlear. The research team has developed a Vistafix system that provides a permanent attachment for ear. It is stable. The team has also developed a Cochlear hybrid which is another type of hearing aid for severe and high frequency hearing loss [19]. Cochlear makes the largest investment in research and development. The company partners with leading researchers internationally. Logistics: The logistics at Cochlear aims at providing fast service to its end users. The products are distributed via a wide network of distributors. The distributers channel is well networked easy access to the products. Sales and Marketing: The aim of Cochlear is to become the market leader in providing solutions to hearing problems. According to estimation Cochlear has more than quarter of a million people that have undergone implantations using one of their implantation services. The aim of Cochlear is to provide support to the customers with their innovative products. This can be achieved by the sale of upgrades of sound processor and provide product support to the customers. The market share of the company cannot be known exactly since it is not published in any report. It internally estimates its market share. It has 65% share of cochlear implants. It manages the sales and distribution through three regions. One of the region is its headquarters i.e. Australia while the other two are its regional offices. The regional offices are in America, Europe, Middle East and Africa. It also includes Asia Pacific region. Cochlear has presence in approximately 20 countries. It maintains a balance between its distributers and a gents who are the key agents in distributing the various products of Cochlear. Cochlear has lost certain percentage of market share for bone conduction implant since new entrants has increased the competition for Cochlear. The product portfolio of Cochlear has increased by the acquisition of Otologics LLC technology. Thus acoustic implant solutions form a major product of Cochlear [20] Customer service The strategy of cochlear is to focus on the experience of the customers. The main aim of the company is to meet the need of the customers. It wants to achieve excellence in operational activities, innovate the products and create value for the customers. Engagement with the customers and understanding their needs is the major focus of the company. There are many barriers to customer service. They are the customers are not aware of the availability of implantable solutions. They do not consider it to be a viable option. Patient motivation is an important factor to be considered while providing hearing aid solutions. Most of the customers cannot afford the cost required for implantation. In order to provide better service to the clients Cochlear has to increase the clinic capacity. Core competencies: Core competencies analyze the strengths and weakness of the company. Cochlear wants to become the leader in providing solutions related to hearing problems. This can be achieved by adopting the right strategy. Cochlear is one of the topmost companies in introducing hearing implants. Cochlear implants have the following advantages: Hearing implants helps to overcome problems related to acoustic feedback and ear mold issues. High frequency consonants can be heard with greater ease. It has greater opportunity for hearing to natural voice. It is a life saving technology otherwise people would not be able to hear throughout their lifetime. Hearing implants provides hearing aid to loss due to auditory neuropathy. It is a costly affair to imitate Cochlear. Cochlear invest huge sum of money in research and development. It has developed a knowledge bank of research and development. To compete with Cochlear in research is a tough task. It has formed a huge barrier for other companies to compete with the RD at Cochlear. Substitute products of Cochlear have come in the market but the substitutes are not developed technically. The safety of the substitute products of Cochlear donot provides similar product safety. Thus Cochlear maintains its market share and substitutes cannot replace it [21](Auditoryverbaltraining.com 2014). Cost Leadership: Cochlear has achieved sustainable competitive advantage. It has continued its operations for the development of product by reducing the size of the plants. The cost incurred in maintenance of the plants has also been reduced by Cochlear. Cochlear has developed products that are lower in costs. It has aimed at the huge developing country market. But there is fierce competition from the competitors. They have developed research and developed the products to provide competition to Cochlear. Product differentiation: The products and services at Cochlear are unique which provides competitive advantage over its major competitors. The products are innovative. The unique features of the products set off a mark for the company. The products are uniquely designed. The preservation techniques are unique. The performance of the products is outstanding. This enables the product to have preference over the products of competitors. The employees at Cochlear are confident in providing implant facilities to their patients. The support provided by the organization is unique and uses advanced processor technology. The designs of the machines at Cochlear are patented and they provide surgeon excellent services. Feedback is taken from the customers on a regular basis. The main aim of the company is to maximize the hearing performance of the patients. The company uses custom sound 4.0 software which is the most sophisticated software tool to control its devices. It is easier to customize the programs to meet the specific needs. The updated software saves time and helps to analyze the defaults[22] (Cochlear.com 2014). Conclusion: Cochlear has provided hearing solutions to more than 2, 50,000 people around the globe. The aim of Cochlear is not just limited to making products but it is aims at providing service to the customers. The service provided to the customers is of high quality which provides the company with competitive advantage. Cochlear has formed a lifelong partnership of hearing. They aim at supporting their customers at every stage of the journey. The infrastructure, technology, research and development, human resource, marketing and sales are developed in such a manner so that the company can achieve competitive edge. The company has gained competitive advantage over others and maintained its leadership position in the market. The unique strategy at Cochlear aims at understanding the problem area of the patients before treating it. It provides services that will benefit the patients lifelong. Cochlear provides a range of resources by which the customers can benefit from the product. Cochlear foll ows the path of innovation. They transform the life of the people by providing treatment for hearing loss. The main aim of the company is to help people hear and be heard. The patients can maintain connection with others in the society and lead a normal life. The patients by using the hearing aids or undergoing the implantation have helped people maintain a healthy life. Works cited Abs.gov.au,. 2014. '6202.0 - Labour Force, Australia, Jul 2014'. Accessed August 7 2014. Abs.gov.au,. 2014. '3101.0 - Australian Demographic Statistics, Dec 2013'. Accessed August 7 2014. Ahlstrom, David, and Garry D Bruton. 2010.International Management. 1st ed. Australia: South-Western Cengage Learning. And.org.au,. 2014. 'Stats And Facts Resources Australian Network On Disability'. Accessed August 7 2014. Austrade.gov.au,. 2014. 'Major Infrastructure - Foreign Investment Opportunities In Australia By Sector - Austrade'. Accessed August 7 2014. Auditoryverbaltraining.com,. 2014. 'Advantages Disadvantages: Hearing Aids Vs. Cochlear Implants Forthose With Severe Hearing Loss'. Accessed August 7 2014. Business.qld.gov.au,. 2014. 'PEST Analysis | Queensland Government'. Accessed August 7 2014. Businessweek.com,. 2014. 'Cochlear Research And Development Limited: Private Company Information - Businessweek'. Accessed August 7 2014. COCHLEAR Annual Report 2013. 2013. Ebook. 1st ed.. Cochlear Discovers New Levels Of Energy Efficiency, Resilience And calability With Art Of Computing And IBM Express Advantage. 2014. Cochlear.com,. 2014. 'Cochlear Implants And Cochlear Implant Technology Cochlear India'. Accessed August 7 2014. Cochlear.com,. 2014. 'Software And Programming'. Accessed August 7 2014. Cochlear.com,. 2014. Accessed August 7 2014. Dess, Gregory G, G. T Lumpkin, and Marilyn L Taylor. 2004.Strategic Management. 1st ed. Boston, Mass.: McGraw-Hill/Irwin. Fda.gov,. 2014. 'Medical Devices'. Accessed August 7 2014. Harrison, Roger. 2000.Biomedical, Biotechnology And Pharmaceutical Innovation. 1st ed. Double Bay, NSW: CL Creations. Healthyhearing.com,. 2014. 'Hearing Aid And Cochlear Implant Companies'. Accessed August 7 2014. Hill, Charles W. L, and Gareth R Jones. 2013.Strategic Management. 1st ed. Mason, OH: South-Western, Cengage Learning. Morschett, Dirk, Hanna Schramm-Klein, and Joachim Zentes. 2010.Strategic International Management. 1st ed. Wiesbaden: Gabler. Rba.gov.au,. 2014. 'RBA: Chart Pack-Australian GDP Growth And Inflation'. Accessed August 7 2014. Rba.gov.au,. 2014. 'Reserve Bank Of Australia - Home Page'. Accessed August 7 2014. Who.int,. 2014. 'WHO | Deafness And Hearing Loss'. Accessed August 7 2014. [1] Cochlear.com,. 2014. Accessed August 7 2014. [2] Dess, Gregory G, G. T Lumpkin, and Marilyn L Taylor. 2004.Strategic Management. 1st ed. Boston, Mass.: McGraw-Hill/Irwin. [3] Business.qld.gov.au,. 2014. 'PEST Analysis | Queensland Government'. Accessed August 7 2014. [4] Fda.gov,. 2014. 'Medical Devices'. Accessed August 7 2014. [5] Rba.gov.au,. 2014. 'RBA: Chart Pack-Australian GDP Growth And Inflation'. Accessed August 7 2014. [6] Rba.gov.au,. 2014. 'Reserve Bank Of Australia - Home Page'. Accessed August 7 2014. [7] Abs.gov.au,. 2014. '6202.0 - Labour Force, Australia, Jul 2014'. Accessed August 7 2014. [8] Abs.gov.au,. 2014. '3101.0 - Australian Demographic Statistics, Dec 2013'. Accessed August 7 2014. [9] Austrade.gov.au,. 2014. 'Major Infrastructure - Foreign Investment Opportunities In Australia By Sector - Austrade'. Accessed August 7 2014. [10] And.org.au,. 2014. 'Stats And Facts Resources Australian Network On Disability'. Accessed August 7 2014. [11] Who.int,. 2014. 'WHO | Deafness And Hearing Loss'. Accessed August 7 2014. [12] Harrison, Roger. 2000.Biomedical, Biotechnology And Pharmaceutical Innovation. 1st ed. Double Bay, NSW: CL Creations. [13] Healthyhearing.com,. 2014. 'Hearing Aid And Cochlear Implant Companies'. Accessed August 7 2014. [14] Hill, Charles W. L, and Gareth R Jones. 2013.Strategic Management. 1st ed. Mason, OH: South-Western, Cengage Learning. [15] Who.int,. 2014. 'WHO | Deafness And Hearing Loss'. Accessed August 7 2014. [16] Ahlstrom, David, and Garry D Bruton. 2010.International Management. 1st ed. Australia: South-Western Cengage Learning. [17] Cochlear Discovers New Levels Of Energy Efficiency, Resilience And Scalability With Art Of Computing And IBM Express Advantage. 2014. [18] Cochlear.com,. 2014. 'Cochlear Implants And Cochlear Implant Technology Cochlear India'. Accessed August 7 2014 [19] Businessweek.com,. 2014. 'Cochlear Research And Development Limited: Private Company Information - Businessweek'. Accessed August 7 2014. [20] COCHLEAR Annual Report 2013. 2013. Ebook. 1st ed [21] Auditoryverbaltraining.com,. 2014. 'Advantages Disadvantages: Hearing Aids Vs. Cochlear Implants Forthose With Severe Hearing Loss'. Accessed August 7 2014. [22] Cochlear.com,. 2014. 'Software And Programming'. Accessed August 7 2014.

Global Political Economy of Intellectual Property †Free Samples

Question: Discuss about the Global Political Economy of Intellectual Property. Answer: Introduction: The European Union is one of the most known and significant trade partner of the United States where the trading of goods are protected under the Intellectual Property Rights which makes a big challenge for the American business entities where they are forced to move myriad of law in the collaboration with the federal intellectual property law of the European Union and the intellectual property law of the member states. The European Court of Justice has also make important role in the trading under the Intellectual Property Rights where they also get involved with the conflicts between the national law of the member states and the articles of the Treaty of the functioning of the European Union which make a great involvement for the free movement of goods across National lines for the trading purposes (Ward 2016). However it has found that globally the international law has already make the development on the trade law which make the trading system more wide according to the sovereign government according to their economics where it also help to develop to introduce several rules for economic integration people countries forms and those parties who want to make the contract in the decision making process which is more predictable in globally (Drahos 2016). The European Union has make a common market which are required for the free flow of goods, services, capital and labor which helps to the harmonization in the education, health, social security, safety and intellectual property rights. It also makes the law which depends in the Treaty regulation, decision and directives. Therefore it make the best influence on the European Union on international trade which helps United States has become one of the economic powerful country. But somehow it make difference between the European Union and the United States where they make the innovation and regulation completely different for balancing between the intellectual property rights and the free movement of the goods which helps them to calculate the market value according to their law governing body (Thumm 2013). The basic purpose of such work has defined where European Union has make a protocol of the protection of intellectual property rights, treaty for the free movement of goods and undistorted competition. The Amsterdam Treaty makes one of the most influences for maintaining the balance between the uninterrupted free trade of goods and services which helps to protect the intellectual property rights. Under the treaty the article 101 has been made for the free movement of goods and prohibits the trade agreements between the business association members States who are fixed prices limit protection and rest purposes for the supply and many other commercial activities. The article 102 also helps to protect the business entity from any dominant position according to the Marketplace and any enumerates conditions which are related in the abuse of the dominant position fair it makes powerful remedies for every member state that are related in the business practices (Drahos 2016). However most of the time a conflict has been arises between the protection of intellectual property right and the free movement of goods and disordered competition where the existence of the intellectual property rights make the limitation on the owners assertion of rights. Therefore the exhaustion of rights doctrine prohibits the intellectual property right holder from every exercising right over the goods or the services which has been sold for once. Therefore it is important for the Intellectual Property Rights holder that he must choose between the maintaining complete controls of the protected product domestically or choose the potential financial rewards for placing the product according to the market value to another States. However the Intellectual Property Rights make the free movement of the goods in the European market (May 2013). Different kinds of barriers are also sounds like parallel imports, compulsory licensing, and European Union law supplement the national law, lan guage requirements and licensing agreements. However despite such various the law has been make a area of Trademark law and lesser degree patent law and copyright law in the free movement of goods in the European Union which helps to make the European Union and its law more United by legally for the free movement of the goods in such area which also keep handle that every disputes and other associated issues as per their tribunals (Roffe 2014). Reference Drahos, P., 2016. A philosophy of intellectual property. Routledge. May, C., 2013. The global political economy of intellectual property rights: The new enclosures? (Vol. 3). Routledge. Roffe, P., 2014. Intellectual property chapters in free trade agreements: their significance and systemic implications. In EU Bilateral Trade Agreements and Intellectual Property: For Better or Worse? (pp. 17-40). Springer Berlin Heidelberg. Thumm, N., 2013. Intellectual property rights: national systems and harmonisation in Europe. Springer Science Business Media. Ward, D. ed., 2016. The European Union and the culture industries: Regulation and the public interest. Routledge.

1984 Themes, Symbols, and Literary Devices

'1984' Themes, Symbols, and Literary Devices Written at a time when dictatorships and totalitarian regimes were establishing a hold over much of the world despite the defeat of Hitler’s Nazis in World War II, in 1984 Orwell described what he saw as the inevitable outcome of any political movement that embraced authoritarianism and the cult of personality. Orwell was extremely frightened of political power being concentrated in a small number of individuals, correctly seeing it as a pathway to the loss of personal freedoms, and foresaw the technology that would make the erasure of those freedoms a simple task. Totalitarianism The most obvious and powerful theme of the novel is, of course, totalitarianism itself. A totalitarian state is one where there is only one political force legally permitted- all opposition to the state’s policies and actions is illegal, usually categorized as treason and met with violent retribution. This naturally stifles freedom of expression and makes change within the system impossible. In democratic societies, opposition groups can form political parties, express their ideas freely, and force the state to address concerns or be replaced. In a totalitarian society, this is impossible. Orwell’s Oceania goes further than even most existing totalitarian states. Where real-world authoritarian leaders seek to restrict information and control their populations in terms of their physical movements and spoken or written communication, Orwell’s government of the future seeks to inhibit thought itself and alter information at the source. Newspeak is a language invented by the state specifically to make independent thought literally impossible, and even Winston’s physical surroundings are designed to inhibit his freedoms, like the way his small apartment is dominated by the enormous two-way television screen, crowding him into a corner he incorrectly believes offers him some degree of privacy. That illusion is crucial to Orwell’s theme, as he strives to demonstrate that in a truly totalitarian society all freedom is in fact an illusion. Winston believes he finds ways to resist and meaningfully fight back against repression, all of which turn out to be gambits controlled by the state. Orwell argues that people who imagine they would heroically resist such a repressive regime are kidding themselves. Control of Information A crucial aspect of Oceania’s control over the citizenry is its manipulation of information. Workers at the Ministry of Truth actively adjust newspapers and books on a daily basis to match the ever-changing version of history that suits the purposes of the state. Without any kind of reliable source of facts, Winston and anyone who, like him, is dissatisfied or concerned about the state of the world, has only their vague feelings on which to base their resistance. More than simply a reference to Joseph Stalin’s practice of literally airbrushing people out of historical records, this is a chilling demonstration of how a lack of information and accurate data renders people powerless. Winston daydreams of a past that never actually existed and sees it as the goal of his rebellion, but since he lacks any real information, his rebellion is meaningless. Consider how he is tricked into overtly betraying the state by O’Brien. All the information Winston has about the Brotherhood and Emmanuel Goldstein is fed to him by the state itself. He has no idea if any of it is true- if the Brotherhood even exists, if there is even a man named Emmanuel Goldstein. Destruction of the Self Winston’s torture at the end of the novel is not simply punishment for his Thoughtcrimes and incompetent attempts to rebel; the purpose of the torture is to eradicate his sense of self. This is the ultimate goal of totalitarian regimes according to Orwell: A complete subservience to the goals, needs, and ideas of the state. The torture Winston undergoes is designed to destroy his individuality. In fact, every aspect of life in Oceania is designed to achieve this goal. Newspeak is designed to prevent negative thoughts or any thought that is not approved or generated by the state. The Two-Minutes Hate and the presence of Big Brother posters promote a sense of homogeneous community, and the presence of Thought Police- especially the children, who have been raised in the poisoned environment of the totalitarian state and who function as credulous and uncritical servants of its philosophy- prevents any sort of trust or true kinship. In fact, the Thought Police do not have to actually exist to achieve this goal. Simply the belief that they do is sufficient to inhibit any individual expression, with the ultimate result that the self is subsumed into Groupthink. Symbols Big Brother. The most powerful and recognizable symbol from the book- recognized even by people who have not read it- is the looming image of Big Brother on posters everywhere. The posters obviously symbolize the power and omniscience of the party, but they are only ominous to those who retain any kind of individual thought. For those fully assimilated into the party line, Big Brother is not an ironic term- he is seen as a protector, a kindly older sibling keeping them from harm, whether it be the threat of outside forces, or the threat of unmutual thoughts. Proles. Winston is obsessed with the lives of the proles, and fetishizes the red-armed prole woman as his main hope for the future, because she represents the potentially overwhelming power of numbers as well as a mother who will bear future generations of free children. It is notable that Winston’s best hope for the future takes the responsibility from his hands- he is not the one counted on to deliver this ill-defined future, it is up to the proles to rise up. And if they do not, the implication is that it is because they are dull and lazy. Telescreens. Another obvious symbol are the wall-sized televisions in every private space. This literal intrusion by the state is not a commentary on modern television, which did not exist in any meaningful way in 1948, but rather a symbol of the destructive and repressive power of technology. Orwell distrusted technology, and saw it as a grave danger to freedom. Literary Devices Limited Point of View. Orwell chooses to restrict our access to information by tying the narrative solely to Winston’s point of view. This is done specifically to keep the reader reliant on the information they are given, just as Winston is. This underscores the betrayal and shock that both feel when, for example, the Brotherhood is revealed to be fictional. Plain Language. 1984 is written in a very plain style, with few flourishes or unnecessary words. While many students take this to mean Orwell was a humorless man, or who simply lacked the ability to write in an exciting way, the fact is the opposite: Orwell had such control over his art he was able to match his writing style precisely to the mood and setting. The novel is written in a sparse, grim style that perfectly matches and evokes the grim, unhappy, and hopeless setting. The reader experiences the same dull, plodding sense of mere existence that Winston does.

Drilling in the ANWR essays

Drilling in the ANWR essays Drilling for Oil in the Artic National Wildlife Refuge Remaining controversial since its conception, the Artic National Wildlife Refuge (ANWR) was signed into federal law by President Richard Nixon in 1973(Krasnow). The ANWR is composed of nineteen million acres, including the controversial area of 1.5 million coastal plain (Sub-Driver). This area is home to the Gwichin tribe, Inupiat tribe, polar bears, caribou, Moose, King Salmon, American Bison, Killer Whales, Sea Lions and other wildlife and plants. Supports of drilling in the artic often say the refuge is estimated to contain up to sixteen billion barrels of oil (A.P.N.). While the United States Geological Survey says there are about three billion and would only last the United States six months (A.P.N.). However, The ANWR federal law states that the only way to get authorization to explore for oil and extract it is through Congress. Republicans say Alaskan drilling will create tens of thousands of jobs, and backers say the refuge could produce one million in peak production (Holland). In the United States, we use about nineteen million barrels a day and we import about sixty percent of that (Holland). During his 2000 presidential campaign, George W. Bush announced his support for drilling oil in the ANWR, and now as president, he is trying to get his amendment through Congress. After passing the House of Representatives, attached to a larger energy bill, the amendment has stalled in the Senate. Now the White House is aggressively trying to push the legislation through, and heated rhetoric proliferates. In Steve Hollands article named Bush Says U.S. Needs to Drill for Oil in Alaska, he stated that the republicans are generally on President Bushs side, and the Democrats are environmentally safe minded. The bill for Drilling in Alaska is having a hard time passing through the senate, and the United States people still don...

Death rituals Essay Example | Topics and Well Written Essays - 500 words

Death rituals - Essay Example I have seen that the death rituals have remained the same over the years. These have comprised the gathering of near and dear ones to make sure that the affected family feels that they are not alone in their tough times (Gilbert, 2011). The close family members and friends come up and meet the concerned family and tell them what they thought of the deceased individual. They showcase how good or strong the person was who had passed away. It implicates for empathy on their part that they understand the situation and are ready to be a part of the death rituals that the family is undertaking at the present. I believe these death rituals will almost be impossible to change as time moves ahead. This has been seen in the recent past when one of my dearest aunties had died. We exhibited the same death rituals that were present at the time of my niece’s passing away some 4 years back. The death rituals did not change at all, and this strengthened my belief that the same steps and processes were going to be followed whenever someone is going to pass away in the family. However, there would be minor amendments within the death rituals as and when required but on the whole the basic agenda would more or less be what I experienced at the time of my aunt’s death. She was close to us and we loved her dearly. I noticed that nearly all the women in the family wore white clothes to pay homage to aunt’s soul (Hazan, 2004). They sat together, spoke at length about her qualities and the manner under which she used to help people around her. This was quite an enlightening experience for me since I learned that the best way to pay respects was to talk about the deceased itself rather than the worldly events that people usually talk about. The death rituals in my family will always change as and when there is a need but the bottom line remains the same – there is immense respect for the person who has died so that his/her soul rests in peace. I am

The Egyptian accounting profession Essay Example | Topics and Well Written Essays - 500 words

The Egyptian accounting profession - Essay Example Its reforms are a part of a larger economic reform, as Egypt underwent a planned economy system in the 1960’s, then liberalized in the 1970’s and underwent structural changes in 1991 (Rahman et al. 1). Still, the private sector is given more leeway in terms of compliance with IAS than the public (Rahman et al. 4). Moreover, compliance with disclosure rules is a major issue. High quality auditors and accountants are in excess demand. Quality of auditors and accountants is guaranteed by the Egyptian Society of Accountants and Auditors (Rahman et al. 5). However, there are a few qualified students due to economic inequalities in the country, and these mostly work for international companies, with only few remaining in the public sector (Rahman et al. 6). Thus, though the government tries to comply with IAS, the work force cannot catch up with the standards. As a result, many companies listed on capital markets fail to live up to standards set by the Egyptian government (Rahman et al. 8). The enforcement mechanisms are weak as well. The central bank is weak, as it cannot impose sanctions on non – compliers in the banking sector (Rahman et al. 9). The government does not ensure that the auditing reports are of high quality by being checked by a second auditor (Rahman et al. 9). Since top management controls the company instead of the shareholders, irregularities within a company are shoved under the rug (Rahman et al. 9). Though IAS is to be followed completely in Egypt under all of the regulations, the result is mistrust among investors and a weak legal system (Rahman et al. 12). Shahid expands on auditing and accounting standards by incorporating them into the wider corporate culture in Egypt and abroad. According to Shahid, lack of standards and accountability leads to financial problems in companies (5). As a result, Shahid believes codes of good corporate governance to be the key to success in Egypt, since they are â€Å"a comprehensive set of norms

Business-Level Strategy Case Study Example | Topics and Well Written Essays - 250 words

Business-Level Strategy - Case Study Example Through expanding their array of products, the company would attract more clients; thus, remain the leader in business (Hill & Jones 179-80). Apple Inc. would adopt the strategy of differentiation. As Hitt, Ireland & Hoskisson argue, this strategy allows companies create products with inimitable features at minimal costs (115-123). Through this strategy as well, a company can adapt novel technology and all changes that may take place in its external environment. With cost and differentiation at hand, Apple Inc. can easily attract clients and produce unique products at very low costs. This will ensure that the company remains proficient in its production; thus, retain the existing clients and attract more. This also translates to the actuality that Apple Inc. must have flexible structure of production, quality management and networks that will see to the manufacture of top quality products as the strategy stipulates (Hitt, Ireland & Hoskisson

A Demand Curve Shifts Economics Essay

A Demand Curve Shifts Economics Essay A shift in the demand curve to the left or right represents a change in consumer preferences. A shift to the right indicates that an item has become more commercially desirable and that a larger number will be sold at a given price. A shift to the left is just the opposite, indicating that a marketplace good is less desirable and that fewer items will be sold at a given price. How would supply or demand be affected when the following things occur? Oranges- after a tornado The demand cure will shift to the left meaning that there has been a change in what the consumer is interested in. The oranges will become less desirable because there will be fewer oranges to sell at a given price. There will be a short supply of oranges and the demand for them will lessen in that area hit by the tornado. It will take time to build the funds for any equipment that had been damaged by the tornado. Other areas will still have the same demand for the oranges because they were not affected by the tornado and they may pay a higher price for the oranges. Automobiles after a major recall This will affect the maker of the automobile and the demand for autos from that maker will go down. Other auto companies may have a spike in sales if the consumer is shopping for an automobile that has not been affected by the recall. This spikes the demand for other autos from another company and halts the supply from the auto that has been recalled. Spinach- after the FDA announces that spinach can prevent cancer Here the demand curve will shift to the right. Suppliers will have to adjust to the change to meet the level of demand. The price on the spinach rise because if demand increases so does the price. This may lead to a shortage of the spinach because the demand can exceed the quantity of the spinach supply. Flu Vaccines after technology was discovered to mass produce flu vaccines If there is a mild flu season not everyone will get a flu shot. For example, if there was a press release of a large amount of people contraction the flu, more people would get flu shots and the demand will go up. If there is less press coverage of people contracting the flu, the less there will be a demand. Since the vaccine can be mass produced the supply and demand will stay equal and the price affordable and may not fluctuate much at all. The midterm exam will be worth 150 points or 15% of your grade. It will constitute of 5 short answers worth 30 points each. The midterm exam is open book and there is no time limit on the exam. You have the option of saving your answer and resuming at a later time. When completed, please submit in a ONE word document. *Upload via attachment* The midterm exam questions will contain material discussed in class (discussions, assignments, websites, etc.) and textbook material (Chapters 1-7, 9-11). All short answers must contain information using no external research. Students are required to respond in their own words using applicable examples and knowledge gained from the class. A typical short answer should be between 100-150 words. The following rubric will be used to assess each of your midterm answers: 15 Points- Justification and Accuracy of Answers (opinion, point articulation) 10 Points Integration of example (s) 5 Points- Spelling, Grammar and APA (typos, grammar style, tone, flow) ** Please note that APA must be used when answering each question (introduction, body, and conclusion). ** Each answer should be on a separate sheet of paper ** There should be one title for the midterm exam 3. Describe the flow of resources, products, income, and revenue among the economic decision-makers (households, firms, and markets) in an open economy. How does this affect GDP? (30 Points) 4. Compare and contrast the command economy, the capitalist economy, the traditional economy and the mixed economy. (30 Points) 5. In your own words, please define and describe the following terms: supply curve, demand curve, gross domestic product and gross national product. (30 Points) To better define macroeconomics, consider its distinction from microeconomics. Imagine you are attempting to figure out how the price of a certain good has been determined. Microeconomics would focus on how supply and demand determine prices, while macroeconomics would study the determination of prices at all levels. To test particular policies and ideas, or to find out the causes of good macroeconomic performance, we need to have some measure of overall economic activity. For this reason, macroeconomics uses aggregates (totals) to measure key concepts such as national income, output, unemployment, inflation, and business cycles (periodic expansions and contractions of economic activity). By studying macroeconomics and understanding the critical ideas and tools used to measure economic data, you will have a better perspective on the issues and problems discussed in contemporary economics. Compare and contrast 3 main differences between microeconomics and macroeconomics. Why is it important for you to study macroeconomics? (30 Points) Microeconomics is the study of your economic behavior and the economic behaviors of others. (McEachern, p. 8). Macroeconomics studies the performance of the economy as a whole. (McEachern, p. 9). Economists use economic models when making predictions or assumptions about the economy because they are easy to relay information through. Most people are visual and like things broken down into pieces that all connect. The circular flow model would be beneficial because it traces the flow of resources, products, income, and revenue for making financial decisions. Economists use economic models when making predictions or assumptions about the economy because an economic theory, or economic model, is a simplification of economic reality à ¢Ã¢â€š ¬Ã‚ ¦ (It) captures the important elements of the problem under study (McEachern, p. 9). Trying to examine all of the economic variables and data would be so complex and overwhelming, that the original problem or question could easily become lost or diffused. A theoretical model, on the other hand, facilitates focusing on the key relationships (p. 69). Economist use economic models when making predictions or assumptions about the economy mainly because the models help simplify things. The economy and everything that goes along with it can be a very complex matter so without the simplification it would be easy to get confused or off track. The models also help to create a template for economists to follow when they are making their predictions of what will happen in the future. This allows them to try and plan ahead for things that might come about. You cannot plan for everything but it is better to be over prepared then not at all. These predictions help economists be sure that all the demands can be met. Economists sometimes use the scientific method to study economic problems. It consists of four steps, Step one: Identify the question and define relevant variables, Step two: Specify assumptions, Step three: Formulate a hypothesis, Step four: Test the hypothesis. According to William McEachern, an economic model is a simplification of economic reality, which economists use to make predictions about the real world (McEachern, 2009, p. 9). Economic models assist economists by condensing and illustrating information, allowing them to analysis situations and create a future forecast. There are several different economic models, such as the production possibilities frontier (PPF), the circular flow diagram, supply and demand diagram, as well as other advanced economic models. The PPF takes into consideration all resources, technology, and rules which apply to production, and identifies possible combinations of the two goods that can be produced when all available resources are employed efficiently (McEachern, 2009, p. 27). In general, the PPF model is a curved graph that allows economics to determine what production levels are efficient, inefficient, and unattainable. The circular flow diagram is a flow chart which describes the flow of resources , products, income, and revenue among economic decision makers (McEachern, 2009, p. 6) . This economic model illustrates for economists how a system functions in order to determine if it is operating efficiently or inefficiently and if it can be improved. Finally, the supply and demand diagram identifies the supply and demand of a good or service, while depicting its price, quantity, and equilibrium. This model allows economists to measure and predict how changes in supply or demand effect price and quantity. 2.List and describe in your own words 3 determinant of aggregate demand and 3 determinants of aggregate supply?(30 Points)

Essays --

Analysis and Critique of Reading Assignment 1 Paper â€Å"Limits of Instruction-Level Parallelism† In this report the author provides quantifiable results that show the available parallelism. The report defines various terminologies like Instruction Level parallelism, dependencies, Branch Prediction, Data Cache Latency, Jump prediction, Memory-address alias analysis etc. used clearly. A total of eighteen test programs with seven models have been examined and the results show significant effects of the variations on the standard models. The seven models reflect parallelism that is available by various compiler/architecture techniques like branch prediction, register renaming etc. The lack of branch prediction means that it finds intra-block parallelism, and the lack of renaming and alias analysis means it won’t find much of that. The Good model doubles the parallelism, mostly because it introduces some register renaming. Parallelism increases with the model type; while the model adds more advanced features without perfect branch prediction it cannot exceed even the half of t he Perfect model's parallelism. All tests conducted show that the parallelism of entire program executions avoided the question of what constitutes a 'representative' interval because to select a particular interval where the program is at its most parallel stage would be misleading. Widening the cycles would also help in improvising parallelism. Doubling the cycle width improves parallelism; appreciably under the Perfect model. But, most of the programs do not benefit from wide cycle widths even under the Perfect model. Depiction to the parallelism behaviour due to window techniques. Evidently discrete window widening tends to result in lower level of parallelism th... ...h prediction and jump prediction, the negative effect of misprediction can be greater than the positive effects of multiple issues. Alias analysis is better than none, though it rarely increased parallelism by more than a quarter. 75% improvement has been achieved under "alias analysis by compiler" on the programs that do use the heap. Renaming did not improve the parallelism much, but degraded it in a few cases. With few real registers, hardware dynamic renaming offers little over a reasonable static allocator. A few have either increased or decreased parallelism with great latencies. Instruction Level Parallelism basics are well explained. Pipelining is important than size of the program. Increased ILP by branch prediction and loop unrolling techniques. But cycles lost in misprediction and memory aliases handling at compiler time have not been taken into account.

Nordstrom Human Resource Paper

Nordstrom’s employees and management are the company’s most valuable resource. An article written in the Seattle PI describes exactly why this is true. It states that, â€Å"Nordstrom salespeople make decisions as if managing their own business; they are trusted to do what is right. Everyone else in the company is there to help the sales staff make the sale and please the customer† (Mulady, 2009). The way the employees are treated and valued is a perfect portrayal of the company’s mission of providing the best possible customer service and value to the customer.Even though the salesperson is the front man for the company, the human resource and management team act as the glue that holds the company together. The president of the company, Blake W. Nordstrom, says that people in support positions â€Å"like myself or someone in human resources that isn’t on the floor manning a register,† needs to understand that their job is to use the â€Å"e nergy and the activities they’re doing contribute to a better customer and employee experience† (HR Magazine, 2006).It is, therefore, extremely important that the workers in the human resource department stay connected to the selling process in order to stay connected with the employees, as it is this connection that helps the employees provide the best service to their customers. Company History and Background In 1887, 16-year-old boy named John W. Nordstrom left his home country, Sweden, for the city of New York City. He arrived with only five dollars in his pocket, unable to speak a word of English and started working in gold mines.One morning in 1897, he picked up a newspaper and read the front-page headline â€Å"Gold Found in the Klondike in Alaska. † Although the labor was hard he managed, in two years, to earn $13,000 in a gold mine stake and returned to Seattle. Back in the Northwest, John was eager to invest his money. In Alaska John became best friends with Carl Wallin, who owned a shoe repair shop in downtown Seattle and it was not long before the two decided to go into partnership and open a shoe store together. In 1901, the two opened their first shoe store, Wallin & Nordstrom, in downtown Seattle.This was the start of what would become the retail legend of Nordstrom, Inc. From the beginning, John's business philosophy was based on exceptional service, selection, quality and value. The company built a devoted customer base; and in 1923, the partners added their second store. In 1928, John Nordstrom retired and sold his share of the company to his sons, Everett and Elmer. Carl Wallin retired a year later and also sold his share of the company to the Nordstrom sons. The third son, Lloyd, joined the team in 1933.The company soon grew to become the largest independent shoe chain in the United States. By 1960, Nordstrom had eight stores in Washington and Oregon, and the downtown Seattle store became the largest shoe store in the co untry. By the early 1960s, the company was looking for new ways to spread its wings. Venturing into the clothing market, Nordstrom purchased Best Apparel, a Seattle-based clothing store, in 1963. Three years later, Nordstrom purchased a Portland, Oregon fashion retail store and merged it with their existing Portland shoe store.For the first time, customers were greeted with a selection of both shoes and fine apparel under a new store name: Nordstrom Best. Men's clothing and children's wear were added in 1966, expanding the store to meet the wardrobe needs of the entire family. Business prospered and within two years, two new stores opened in Washington. In 1968, the three brothers decided to retire and hand the company over to the third Nordstrom generation. The company was now led by Bruce, James and John Nordstrom along with Jack McMillan and family friend Bob Bender. The company went public in 1971.Just two years later, Nordstrom sales passed the $100 million mark and the company was recognized as the largest-volume West Coast fashion specialty store. This same year, the name was formally changed to Nordstrom, Inc. By 1975, the company had expanded into Alaska, and the first Nordstrom Rack was opened in Seattle as a clearance center for full-line store merchandise. Three years later, the company moved into the competitive California market; and by 1988, Nordstrom had made the big move to the East Coast with the opening of a stunning new store in Virginia.Organizational and Individual Relations and Retentions Nordstrom is a dynamic place to have a career because of the multitude of characteristics and backgrounds. Of the Company's total employment, 42. 2 percent are people of color and 72. 1 percent are women. On top of that, 31. 9 percent of the management population is comprised of people of color and 73 percent are women. Nordstrom empowers its employees to set their sights high and blaze their own trails. This is a place where the employees’ futur e success and growth are truly a result of their own efforts and achievements.They strongly believe in promoting from within, because this offers employees a unique opportunity to learn the company’s business from the ground up. Hard work, loyalty, competitive spirit and commitment to the customer are important factors employees need in order to grow within the company. Nordstrom Strategies Recognizing any success Nordstrom enjoys basic quality of their relationships with customers, employees, vendors and communities. Striving to be a socially responsible company and know that the trust of the customers is to have is not to be taken lightly.Making responsible business decisions is something Nordstrom has done for a long time. Nordstrom was one of the first retail companies to offer profit sharing to its employees in 1952, and each year donated millions of dollars to nonprofit partners across the country. Nordstrom was also the first among their direct peers in fashion-special ty retail to print on Forest Stewardship Council (FSC)-certified paper with 30 percent recycled content. Recruitment, Selection and Training The company’s goal is to attract the best talent, so it makes good business sense to recruit from a diverse population.They achieve this by utilizing targeted media, job fairs, community organizations and college placement centers. Each of these methods helps the company find the individuals who support Nordstrom’s goals and values. The recruiting process is typically done online, where candidates can apply for job opportunities. Depending on the position, one will either start the online application process or be asked to submit a resume. Than the individual, whom skills and abilities match an open position, will be contacted by a recruiter, department manager or human resources assistant.After an initial conversation, a decision will be made. If there is a potential fit the person will set up an additional interview time where t hey will meet physically. Diversity Training forms an important part of Nordstrom's diversity efforts. The company had an Executive Vice President who looked after Human Resources and Diversity Affairs. In addition, Nordstrom had another Vice President who addressed issues regarding Corporate Diversity Affairs at the company. Equal Employment and Diversity The business of fashion is international, multi-cultural and diverse by nature.At Nordstrom, this makes for an exciting retail environment and value the richness it brings to our Company. One of the best ways Nordstrom has found to provide excellent customer service is by ensuring what reflects the communities it serve: â€Å"having a workplace that attracts and supports diversity, benefits both customers and employees. †(Nordstrom, 2009) Nordstrom believes each of their employees has the opportunity to realize their potential and contribute to the success of their Company. This philosophy is reflected in the company unders tanding that success comes from people.The broad range of experiences, backgrounds and cultures the employees bring to the company creates a unique atmosphere. At Nordstrom, ongoing efforts to encourage a diverse environment are found throughout the Company, from hiring and promotion to their Supplier Diversity Program. Nordstrom believes that one of the best ways to be a socially responsible business is to create a workplace where people can be financially successful and grow a rewarding career. Throughout their history, Nordstrom has created a workplace where people feel valued, outstanding performance is rewarded, and entrepreneurial spirit is encouraged.In the spirit of entrepreneurship, Nordstrom authorize its employees to run their own business within the company’s four walls. Although Nordstrom has been fortunate to have been recognized by Fortune magazine as one of the best places to work, there is always room for improvement. Employees at Nordstrom are most valuable resources and as a company Nordstrom is committed to support them through upholding diversity, offering workers with benefits and opportunities for career growth.Supplier diversity seeks out and develops relationships with qualified women-and minority-owned businesses are the keys to the Nordstrom Supplier Diversity Program. In 1989, Nordstrom launched the Supplier Diversity Program to help attract qualified vendors that might not otherwise consider Nordstrom as a potential client. Nordstrom recruits a wide range of women and minority owned vendors in three categories: merchandise, supplies and services, and construction. Since the program began, Nordstrom has spent more than $8 billion with minority and women-owned businesses. Legal Framework of Equal EmploymentAs Nordstrom contracts to manufacture products in various countries, it has an opportunity to address a wide range of factory issues throughout the world, especially workers rights. To address these concerns, Nordstrom creat ed a Social Responsibility team in 1994. This team works closely with company’s product group vendors to see that Nordstrom label products are made in accordance with applicable laws and ethical labor practices. Additionally, as a buyer of merchandise from around the world, Nordstrom expects the companies that they work with to do business by acting responsibly.Through the Partnership Guidelines, focusing on social responsibility in manufacturing, and by forming strong alliances with non-profit organizations the company can better protect the human rights of those in the companies supply chain. Nordstrom’s partnership guidelines cover topics such as forced labor, child labor, health and safety, harassment and abuse. The company social responsibility in manufacturing gives an overview of how the business upholds responsible relationships with vendors.Over the years, Nordstrom has formed strong alliances with third party organizations including Business for Social Respon sibility, the Fair Labor Association and Fair Factories Clearinghouse. These partners, among others, act as checks and balances for Nordstrom in its efforts to protect human rights. Forced Labor: Nordstrom will not conduct business with any Partner that uses involuntary labor of any kind; including prison labor, indentured labor, or forced labor. Overtime must be voluntary. Employees shall not be required to lodge ‘deposits' or identity papers upon commencing employment with the company or as a condition of employment.Child Labor Partners will not employ anyone under the age of 15, and or younger than the age for completing compulsory education, or under the minimum ages established by applicable law in the country of manufacturer, if higher than the age of 15. Furthermore, Partners of any kind must comply with all local laws pertaining to the restrictions on â€Å"young workers† under the age of 18, including restrictions on their exposure to situations in or outside o f the workplace that are hazardous, unsafe, or unhealthy, and Partners will provide adequate protection from such exposure. Nondiscrimination:Nordstrom firmly believes people are entitled to equal opportunity in employment. Although the company recognizes cultural differences exist, Nordstrom will not pursue business relationships with Partners who discriminate in employment practices (including hiring, wages, benefits, assigned duties, advancement opportunities, discipline; termination or retirement on the basis of sex, race, color, religion, gender identity, age, sexual orientation, national origin, marital or maternity status, work or personal affiliations, political opinion or social or ethnic origin, or physical, mental or sensory disability).Harassment and Abuse: Nordstrom expects its Partners to treat every employee with respect and dignity. No employee will be subject to any harassment, which includes any physical, verbal, sexual or psychological harassment or abuse. Partner s will not use monetary fines as a disciplinary practice. Furthermore, workers must be free to voice their concerns to Nordstrom or Nordstrom appointed staff, and must be allowed to participate in the Nordstrom audit process, without fear of retaliation by factory management. Health and Safety:Nordstrom seeks Partners who provide written standards for safe and healthy work environments and the prevention of accident and injury to the health of their workers, including adequate facilities and protections from exposure to hazardous conditions or materials. These provisions must include safe and healthy conditions for dormitories and residential facilities, and they must comply with local health and safety laws and standards. Wages and Benefits Partners shall set wages, overtime pay and legally mandated benefits and allowances in compliance with all applicable laws.Workers shall be paid at least the minimum legal wage, or a wage that meets applicable local industry standards, whichever is greater. Documentation and Inspection: Nordstrom intends to monitor compliance with our Partnership Guidelines and to undertake on-site inspections of Partners' facilities. Partners will maintain, on file, all documentation necessary to demonstrate compliance with these Partnership Guidelines, and will authorize Nordstrom and its designated agents (including third parties) to engage in announced and unannounced monitoring activities to ensure compliance, including confidential employee interviews.Nordstrom will review and may terminate its relationships with any Partner found to be in violation of the Partnership Guidelines, including denying access to approved monitors. Freedom of Association: Partners will respect workers rights to freedom of association and collective bargaining. Lawsuits: Nordstrom to Pay $292,500 to Settle EEOC Harassment Lawsuit On April 17, 2009 the U. S. Equal Employment Opportunity Commission announced that Nordstrom will have to pay $292,500 to 10 form er employees and furnish other remedial measures to settle a harassment lawsuit.EEOC had charged that the department store manager harassed Hispanic and African-American employees based on their national origin, race, and color, and retaliated against those who complained about the harassment. According to the EEOC's lawsuit, a manager harassed the Hispanic and African-American staff at the Palm Beach Gardens and Wellington Florida’s stores. Even though the employees complained about the harassment, the company only did the minimum to help them. The alteration's manager retaliated against those who complained by continuing the racially offensive comments, unfairly berating mployees and citing them for alleged performance problems. Under the terms of a consent decree Nordstrom will have to pay for the damage and distribute its policy addressing unlawful harassment to all employees in the Wellington and Palm Beach stores; provide harassment training, post a notice on the resolu tion of the lawsuit, and submit a semi-annual report to EEOC on all harassment complaints received during the next two years. Working at Nordstrom Nordstrom has believed in promoting from within.The promote-from-within policy offers employees a unique opportunity to learn the business from the ground up and grow a rewarding career with Nordstrom. It's not uncommon for people who started on the sales floor or in the stockrooms to stay with the company for 20 years or more, taking on new assignments as they grow. The majority of executives began their careers with Nordstrom as salespeople or in the stockroom. Generally, Nordstrom looks for great sellers who love fashion and are passionate about helping customers.The idea of corporate social responsibility is not new to the company. Since the beginning Nordstrom has made every effort to run an ethical business where people want to work and shop. The social responsibility efforts help the company connect with customers and employees and help drive results. Striving to offer its customers the best possible customer service, social responsibility is a subject that requires continuous improvement, and is something that Nordstrom can always get better at. Jobs and Job AnalysisWhen one works at Nordstrom, each day is full of new challenges, friends and goals. At Nordstrom employees are encouraged to try new things and share their passion. This is a place to build a rewarding, lifelong career. Nordstrom Retail Internship Opportunities: Nordstrom is looking for individuals with a passion for retail who is motivated achievers and hardworking team players. As a Nordstrom Retail intern, the intern will receive mentoring and training in the exciting world of fashion through experiences that a person will not find in the classroom.During the internship the intern will have the opportunity to learn from the experienced people who bring the Nordstrom experience to life, gain hands-on experience by serving Nordstrom’s cus tomers, participate in sales and customer service events, gain exposure to a variety of management responsibilities, earn a competitive wage and receive an employee merchandise discount. Upon completion the intern will be offered an Assistant Manager or salesperson position, depending on availability and intern preferences. Nordstrom is proud to be named to Fortune magazine’s list of â€Å"100 Best Companies to Work For. Nordstrom’s believes this recognition comes from their desire to empower their employees to set their sights high and blaze their own trails. Nordstrom is a place where its employees’ future success and growth are truly a result of their own efforts and achievements. Nordstrom Stores and Merchandising: Nordstrom wants to be the ultimate fashion destination for its customers and provide a superior experience. From meticulous tailors to knowledgeable salespeople to innovative merchants who bring the latest trends and fashion to Nordstrom stores, their teams are comprised of talented people who work hard to delight the customer.The rewards for working at Nordstrom are many, employees find recognition for their unique talents and energies, they also work in an environment that gives individual freedom to excel and create their own career path, employees develop gratifying one-on-one relationships with customers and are able to choose from satisfying positions in commissioned sales, merchandising, Nordstrom restaurants, operations, support and Nordstrom Spa. Restaurants and Specialty Coffee:When employees work in one of Nordstrom’s restaurants or specialty coffee bars, they become an important part of a team that delivers professional and enjoyable dining and coffee experiences for Nordstrom customers. The employees will enjoy working with stylish, comfortable setting with outgoing co-workers who share the same passion for great food, coffee and service, also employees are able to bring their own personal passion for fo od and service to Nordstrom concepts featuring casual and classic dining alternatives and regional menus designed to suit Nordstrom customers.By working at the restaurant or coffee bars employees choose from an assortment of career possibilities, including line and prep cooks, cashiers, servers, hosts, bussers, dishwashers, chefs and management. Nordstrom Rack: Nordstrom Rack is where customers go for top-of-the-line fashion and accessories. An employee working on the Rack team has the opportunity to enjoy flexible hours, a friendly atmosphere and competitive pay along with benefits. Nordstrom’s created a fun, fast-paced, self-service environment that gives its employees the opportunity to grow.The employees learn the ins and outs of fashion retailing and customer service. They can choose their title from a range of positions in non-commission sales, customer service and stock. In addition, employees are encourage to choose the best position fit, full time or part time, in or der to find their inspiration. Compensation, Variable Rewards, and Executive Pay It is very important for a company to control what the executives collect in comparison to what a normal employee does. This has been an issue in business and politics because higher management have more rewards and more income than others such as; sales associates.For this matter Nordstrom has a compensation committee. The Committee â€Å"is responsible, subject to approval of the board, for establishing and maintaining a broad compensation program for the president and executives of Nordstrom in order to attract, retain and motivate key contributors to the success of Nordstrom and its affiliated companies, for reviewing and discussing with management Nordstrom’s compensation discussion and analysis, and for preparing an annual report on executive compensation to be included in the Nordstrom proxy statement†.Below are the list of duties and responsibility of the committee: †¢Ã¢â‚¬Å"A nnually review and approve the corporate goals and objectives relevant to the president and executive’s compensation, and evaluate their performance †¢Salary paid to the President and Executives The grant of any cash-based bonuses and equity compensation to the president and Executives †¢The award of any benefits or perquisites to the President and the Executives †¢To review management's annual performance evaluation of the Executives and to monitor the annual performance process for executives not evaluated by the Committee †¢To prepare an annual report on executive compensation to Nordstrom shareholders for inclusion in its proxy statement or annual report on Form 10K in accordance with the rules and regulations of the Securities and Exchange Commission †¢To recommend to the Board where it deems appropriate that an employment separation, or change in control agreement be established with any Executive and the terms of such agreement †¢To review , approve, administer, amend, and/or make recommendations to the Board relating to all Nordstrom cash-based and equity-based incentive compensation plans †¢To review management's recommendations for, and approve as it deems appropriate, long-term incentive award levels or other incentives to non-Executive key contributors to the success of Nordstrom and its affiliates †¢To review and approve any benefit plans, retirement and deferred compensation or other perquisites offered to Executives, including eligibility and the level and types of benefits or perquisites provided †¢To consult with the President regarding significant organizational structure changes and to advise the Board regarding the implications on any Executive compensation or benefit programs concerning such changes †¢To undertake such other responsibilities, tasks or projects as the Board of Directors may delegate or assign to the Committee from time to time †¢To conduct an annual self-evaluatio n of the Committee's performance to determine whether the Committee and its members are functioning effectively in adherence to this Charter †¢To review and approve management's recommendation for contributions attributable to the profit sharing portion of Nordstrom's 401(k) Plan and Profit Sharing, and additional profit sharing payouts, if any †¢To review and discuss with management Nordstrom's CD;A and based on that review and discussion, recommend to the Board that the CD;A be included in Nordstrom's annual proxy statement †¢To receive periodic reports upon request by the Committee on Nordstrom's compensation programs as they affect all employees †¢To periodically review and make recommendations to the Board with respect toNordstrom's stock ownership guidelines applicable to Nordstrom employees and directors and to monitor compliance with the stock ownership guidelines by those individuals †¢The Committee shall establish such rules, regulations and proced ures as it determines appropriate and reasonably necessary for it to undertake its duties and responsibilities as set forth in this Charter †¢The Committee shall maintain appropriate procedures to ensure accurate meeting agendas and minutes are prepared and filed in draft form as soon as practicable, with such Meeting Minutes presented to the Committee for approval at the next regularly scheduled Committee Meeting.Such meeting agendas and minutes shall be filed in the Committee Minute Book upon approval †¢The Committee shall have the sole authority to engage any consultants, legal counsel or advisors to provide services the Committee deems necessary and advisable to carry out the foregoing responsibilities, to approve all of the terms of such engagement including compensation, and to terminate any such engagement† (Nordstrom, 2008) While talking about compensation, here is an example of how much Blake W. Nordstrom makes out of Nordstrom’s sales. Blake W. Nords trom has been CEO of Nordstrom for eight years and has been with the company for 34 years. He is 47 years old and ranks 11 within retailing. Blake W. Nordstrom’s total Compensation is 8. 15 million dollars; thus his five-year compensation 21. 21 million dollars. 6-Year Annual Total Return20% 6-Year Return Relative to Industry112 6-Year Return Relative to Market118Blake W Nordstrom's Compensation Vs. Retailing Medians Salary $0. 70 mil $1. 01 mil Bonus NA $0. 84 mil Other $0. 07 mil $1. 06 mil Stock Gains $0. 71 mil $0. 00 mil Total Compensation$1. 47 mil $4. 39 mil Nordstrom has different types of compensation for its employees. For example, when someone works at Nordstrom they get 40 percent off on all store merchandise. They also do recognitions such as; employee of the month. Since Nordstrom is a retail store, employees get special incentive programs and they also work for commission which gives employees an â€Å"incentive† to work harder and sell more; resulting i n them earning more money.Employees also get recognition awards that recognize individual employees for their performance or service. Benefits Nordstrom is a respectable company to work for because an employee receives a strong benefits package. In addition, they ranked 72nd in the list of the top companies to work for, and use to be at the 36th place. Even with the bad economy, no cuts were made in pay or benefits for their employees. Nordstrom state, â€Å"as a Nordstrom employee, you should feel confident that your health and well-being are among our highest priorities. To that end, Nordstrom offers comprehensive, flexible benefits to our employees and their families. † Below is a list of the different benefits offered at the company: Health Benefits:Medical/Vision – medical, vision and prescription drug coverage Dental – basic preventive dental services and orthodontia Employee Assistance Program – confidential consultations, information and referrals , 24 hours a day Income Protection: Life Insurance – financial protection in the event of a covered family member’s death Disability Program – income replacement to assist you if you are unable to work due to disability Long-Term Care – financial protection for you or an enrolled family member who can no longer perform covered everyday activities Accidental Death and Dismemberment Insurance – financial protection for you and your eligible family members in the event of accidental death or dismemberment Retirement Benefits: 01(k) Plan – defer a percentage of your pay as pretax deferrals, post-tax Roth deferrals or a combination of both. Nordstrom matches your deferral, dollar for dollar, up to 4% Profit Sharing – share in the Company’s success through Company contributions to your retirement account Flexible Spending Accounts: Set aside pretax dollars to pay for eligible health care, dependent care and commuter expenses Time off : Leave or Absence Program – time away to recover from an illness, care for a family member or serve in the military Paid time off – time off with pay for your personal and family needs Sabbatical program – six week of unpaid time off to use any way you like Life/Work Benefits:Merchant Discount – a 20% or 33% discount of regular employees and eligible dependents Group Legal Services – access to local legal assistance for a wide range of services Group Home/Auto Insurance – group, discounted insurance rates for auto, home, renters, and other personal property Discount and services/Work Stream Rewards – discount on high-quality goods and services Resources and Referrals/Life Care – counseling, education and referral services to help you make life decisions on everything from childcare and academics to financial services and retirement Employee Stock Purchase Plan: Purchase Nordstrom stock at a discount Additional Benefits and Ser vices: Direct Deposit Jury Duty Pay Nordstrom Bank Nordstrom Federal Credit Union U. S. Savings Bonds Supporting the Environment In 2007, Nordstrom recognized the need to centralize existing efforts and created a multi-divisional group of leaders to come up with a comprehensive social responsibility strategy.In order to do so, they talked to the employees and some of the best customers to learn more about what's most important to them when it comes to social responsibility. They focus on the following areas: Supporting Communities, Sustaining the Environment, Protecting Human Rights, and Caring for their people. Nordstrom hopes to develop stronger relationships with their customers and be a better global steward with this strategy. Nordstrom recognizes that the stores facilities make an environmental impact and for many years it has been involved in recycling, energy and water conservation and overall waste reduction. In 2008, Nordstrom formalized a commitment to the environment wit h the creation of social responsibility strategy.It’s the company goal to reduce the impact on the environment by focusing on resource conservation, waste management, packaging and product innovations and organic cotton development, as well as incorporating sustainable options throughout their restaurants. The company is trying to increase recycling and decrease use of harmful chemicals and toxins. Across the stores and operations, Nordstrom is taking a closer look at how to reduce impact on the environment through innovations in sustainable merchandise, eco-friendly bags and boxes, and organic cotton development. As a fashion specialty retailer, Nordstrom sells branded merchandise from vendor partners and contract to manufacture private label products. The company has decided to focus on one issue directly related to what it does, and it now funds an organization that increasing the world’s supply of organic cotton.In addition, Nordstrom restaurants and coffee bars ar e finding ways to have a healthy impact on their customers, employees and the planet. From organic teas and Fair Trade coffee to nutritional labeling. Supporting Communities Although the environment is an important component of social responsibility, Nordstrom recognizes that social responsibility goes beyond just being â€Å"green. † The company’s financial support and involvement is important to the diverse communities it does business with. Therefore, its social responsibility strategy encompasses some of its existing practices in community giving, the United Way and international development.Overall, the company wants to give back to the communities that believed in them. As outlined in its Contributions Guidelines, its community giving takes the form of cash contributions, community partnerships and volunteerism. The selected areas of focus are the arts and culture, education, health, community development and the environment. Each year, Nordstrom donates millions of dollars to non-profits organization across the country. They also implemented the â€Å"Nordstrom Scholarship Program,† which supports education in most of the communities where it does business. In addition, Nordstrom has been a strong supporter of the United Way for almost six decades.It also supports several global organizations and projects including the HER Project, Organic Exchange, and vendor education programs. Current Financial Summary Nordstrom operates outlet stores in addition to department stores. Nordstrom Rack outlets appeal to customers who like the department store and the labels it carries but not necessarily the prices. Outlet shoppers visit to take advantage of bargains on items that did not sell at the department store or did not make it as far as the sales floor when a product line was discontinued. Recent financial results suggest that, in the recession, outlets may be giving shoppers who are not inclined to indulge at their favorite luxury departme nt stores an alternative where they can shop and still feel financially responsible.In March, Nordstrom’s beat analyst comparable store sales predictions, a relatively positive development despite the fact that those sales, generated in stores open for a year, were off by 13. 5 percent. Outlets helped mitigate greater softness elsewhere with comps at Nordstrom rack up 0. 1 percent versus down 16. 9 percent at department stores. In the recession, Nordstrom has been adding rack locations not just to satisfy bargain hunters but also to take advantage of good real estate deals that have been emerging. The rack has been a great vehicle to offer Nordstrom products at an off price as well as other products that consumers buy. Nordstrom, Inc. (NYSE:JWN) reported net earnings of $81 million, or $0. 7 per diluted share, for the first quarter ended May 2, 2009. For the same quarter last year, Nordstrom reported net earnings of $119 million, or $0. 54 per diluted share. Included in the 2 009 first quarter results was a benefit of approximately $12 million, or $0. 06 per diluted share, related to the closure of the company’s 2007 federal tax return audit. Excluding this benefit, 2009 first quarter net earnings were $69 million, or $0. 31 per share. Net sales in the first quarter were $1. 71 billion, a decrease of 9. 2 percent compared with sales of $1. 88 billion during the same period in fiscal 2008. First quarter same-store sales decreased 13. 2 percent compared with the same period in fiscal 2008.