Evaluation of Indias Online Travel Industry

Evaluation of Indias Online Travel Industry MANAGERIAL ECONOMICS PROJECT: ONLINE TRAVEL INDUSTRY GROUP MEMBERS: Nikita Goenka (PGP30324) Padmaja Agnihotri (PGP30316) Sandeep Kumar (ABM11034) Ravali Malka (PGP30317) Vishwas Nandan (PGP 30353) Saurav Kumar (PGP30340) Rohan Kokane (PGP30336) BACKGROUND India is a country with vast demography and a wide spectrum of opportunities. Better job avenues have gifted the youth with greater discretionary power. Rising use of internet plastic money has made the field of e-commerce an exponentially growing field in recent times. Why E-Travel as a subject of research? E-travel in India has a lion’s share in the Indian E-commerce contributing to a whopping 82% to the entire market share in the year 2013 (Graph 1). Also, E-travel exhibited a marvelous annual growth of 53% in 2013 over 2012. This is further complemented by the fact that the Indian tourism industry is the 2nd fastest growing in the world. The present paper aims at unravelling various facets of this booming industry and studying its position in the private sector, especially e-commerce industry. Other merits: Online travel demands least capital infrastructure costs Quick delivery of services enhances consumer satisfaction EVOLUTION Based on the single idea of easing travelling in India, online travel services started around a decade ago. Booming of IT sector in India was one of the major factors stimulating online travel. Online travelling segment constitutes around 70% 80% ($25 billion) of all e-commerce activities and has been a major driver of the industry. Key schemes and policies implemented by e-commerce industry can be considered as major factor for success of the segment. Exhaustive assistance, user friendly websites, customer grievance redress are the major attractions prevailing in the segment. Makemytrip, Yatra.com, Redbus are some websites which have seen rocketed growth as presented in Graph 2 and Graph 3. PRICE ELASTICITY OF DEMAND Price Elasticity is defined as percentage change in demand due to one percent change in price. Online travel industry faces more level of price sensitivity than traditional channels, majorly because of ease of access to- PRODUCT INFORMATION PRICE INFORMATION CHANNEL SELECTION FORWARD LINKAGES: Nowadays Travel industry is not restricted to its conventional travel business only. It has extended to forward linkages like bus tickets, travel insurance firm hotels. Share of each linkage has been presented in Graph 4 Regulations Introduced by the government and its impact: The regulatory norms laid down by the government of India are aimed at promoting growth of the market which have effect on the online travel industry. With the customers slowly moving from traditional ways of booking to online, these norms have greatly influenced the growth of online travel industry. A few regulatory norms laid are as follows: COST STRUCTURE: The cost structure of online travel can be analysed in two ways: Traditional costing analysis through study of the PL statement ABC (activity based costing ) by analyzing the cost driver for each specific segment The following sections explains both the above stated viewpoints: Traditional costing analysis: The income statements of various big players of the online travel industry are available for study. One such player is Makemytrip.com, a leading firm in online travel. Graph 5 summarizes the various expenses of Makemytrip for 4 consecutive years in descending order. Activities of online travel: The various activities of online travel have been are categorized as: Core Activities and Support Activities The activities are studied considering their respective drivers in terms of the resources allotted and other factors such as time and space devoted etc. PRODUCTION STRUCTURE Online travel industry offers services to its customers as a product. There are various types of services which online travel industry offers:- Core services Air, Rail and hotel advance bookings and ticketing Discount fares program Event management service Value added services Tracking of journey 24 hours emergency service Ticket approval using email system Insurance Graph 6: Traffic generated from mobile devices. Graph 7: Reach of travel portals (India and Global) Graph 8: Profit Margin by segments PRODUCTION FUNCTION A production function gives relationship between inputs (capital, labour and other factors) and outputs (goods and services). Online travel agency have high initial and fixed cost which it makes as less labour intensive sector. U= U (P, Y) Y= F (K, L) Where U = utility function of cost (P) and trips (Y) F = Production function of capital (K) (travel agencies) In short run, if labour is increased, the performance and maintenance of the online portal will be improvised. So this in-turn might increase number of trips for some time period then falls as online travel agency is more technology based and improving labour doesn’t increase much of output. In long run, an improvement in the state of technology shifts the production function up, leading to an increase in output per worker for a given level of capital per worker. The higher the technology, higher Y for a given K and L. An improvement in the state of technology shifts the production function up, leading to an increase in output per worker for a given level of capital per worker COST FUNCTION Cost function is effect of level of production on the cost which the firm is incurring. Since in online travel industry we don’t have any such physical product, we can relate the level of production with the sales generated by company. Cost analysis for Thomas Cook has been done in Table 1 and Graph 9. TABLE – 1: Thomas Cook- Average and Marginal cost of the service delivered Year Sales (INR in mn) Total Cost (INR in mn) AC MC 2010 3455 3086 0.8932 2011 4017 3094 0.7703 0.01 2012 4386 3300 0.7524 0.557 2013 13031 10269 0.7881 0.80 Source: www.securities.com/emis/ Industry- Online travel Graph 9: Cost analysis for Thomas Cook (All money figures are in INR million) Inferences: The data given in Table 1 shows the average and marginal cost of the service delivered. From graph 9 we can see that the average cost reaches a minimum value of 0.45 at a sales value of INR 8700mn approximately. As the scale of operations of Thomas Cook went up beyond this point the average cost also increased. Clearly it is evident that the company isn’t operating at its minimum cost point. Due to sudden increase in scale of operations, the company might not have optimized its value chain. REGRESSION ANALYSIS IRCTC E-ticket booking: IRCTC started its e-ticket booking facility from 2005 August. By that time there was already i-ticket booking in IRCTC where tickets will be delivered through courier to the house after booking through internet. Once IRCTC launched E-ticket booking, the sales through I-ticketing started declining and this new facility increasing sales of IRCTC. Number of people using internet in 2012 is 11.4% of total population as compared to 4.5% of total population in 2005. This rapid growth in internet users resulted in increment of number of tickets booked through IRCTC. Graph 10: Regression Analysis for IRCTC E-ticket booking Inferences: In 2005, internet Company Sify had announced its tie up with Indian Railway Catering and Tourism Corporation (IRCTC) to make online railway ticketing service available at over 3,400 iWay cybercafà ©s across 154 cities, on cash payments. In 2008, With 8 lacs tickets sold every day on its website, IRCTC had announced its expansion policy to give services and sell airline tickets. With overall increase in train travel quality and increase in train travelling, e-tickets are in demand. PROFIT OR LOSS ANALYSIS: MAKE MY TRIP www.moneycontrol.com Year Revenue Total Cost Profit 2011 $124,721.00 $119,891.00 $4,830.00 2012 $196,599.00 $189,951.00 $7,048.00 2013 $228,822.00 $256,411.00 ($27,589.00) 2014 $255,375.00 $276,281.00 ($20,906.00) Graph 11 Inferences: Based on the above analysis MakeMyTrip has achieved its break-even point somewhere in between 2012 and 2013. After that point it has been experiencing losses. PROFIT OR LOSS ANALYSIS THOMAS COOK www.moneycontrol.com Year Revenue(In Cr.) Total Cost(In Cr.) Profit(In Cr.) 2009 242.00 184.00 58.00 2010 282.00 193.00 89.00 2011 340.00 232.00 108.00 2012 386.00 270.00 116.00 2013 383.00 267.00 116.00 Graph 12 Inferences: From above graph, Thomas cook has passed its break-even point and has been experiencing profits for last 5 years. APPENDIX Graph 1: E commerce Market share Graph 2: Growth trend in the online travel market Graph 3: Percentage of online users Graph 4: E commerce market share (including the forward linkages) Graph 5: Summary of expenses of Makemytrip for 4 consecutive years in descending order: Source : http://www.nasdaq.com/symbol/mmyt/financials?query=income-statement Graph 6: Traffic generated from mobile devices Graph 7: Reach of travel portals Segment % age Air Travel 7 Train Travel 5 Bus Travel 12 Car Rentals 15 Hotels tours and Packages 20 Graph 8: Profit Margin by segments 2013 Source: E Y

7 Elevens Information Systems

7 Elevens Information Systems 7 Eleven commenced operation on 11th July 1927 in Dallas Texas and has gone on to be an industry leader for more than 40 years (http://www.rimag.com). Originally the stores operated from 7am to 11pm, a trading span that was unheard of at the time. However most 7 Eleven stores now operate 24 hrs a day (www.answers.com). 7 Eleven has approx 7100 stores in North America and over 30,000 stores world wide. It has the largest ATM network of any other convenience store in the United States. 7 Eleven have had many convenience store firsts including being the first retailer to sell coffee in take away cups and offering all major soft drinks brands at their fountains. To put the size of 7 Eleven into perspective they sell 41 million gallons of milk each year, which is enough milk to pour more than two glasses of milk for every person in the United States (www.7-Eleven.com). The diagram below demonstrates the expanse of 7 Eleven world wide. Q.1 7 Eleven competes with both other chains of convenience stores and independent stores. What competitive advantages can you identify in this case? According to the J.D Power and Associates (www.jdpower.com) customer satisfaction survey the following are the most important contributors to customer satisfaction in Japan. There are 3 key areas encompassing the many aspects that provide 7 Eleven with their competitive advantage. As you can see from the overview below 7 Eleven are able to compete and more often than not dominate in each of the key areas identified in the aforementioned study. Extensive Knowledge of the market The management information systems utilised by 7 Eleven allow them to be able to capture crucial data on their customer base, which ensures that are providing customers with the products and services they need and want. Additionally it enables 7 Eleven to be able to track products and utilise a sophisticated inventory system to provide exactly what the customer wants at the time that they need it. Furthermore it refines 7 Elevens inventory system as they are more accurately ordering and restocking products that they are confident will sell. They have developed a streamlined value chain through electronically transmitting orders and keeping product turnover high. They are using computer based information systems to connect all the partners in their value added chains directly into flexible manufacturing systems (Best, 1993, pg. 49). The management information systems also offers added value as it provides 7 Eleven with an avenue to monitor staff performance, thus providing them with the ability to continuously provide a high level of customer service. Technological advances The time distribution system provides competitive advantage on two fronts, the ability to be able to be utilise the small spaces in Japanese retail outlets and to be able to provide customers with a greater range of products more accurately catering for there needs. The information available through their management information systems not only assists in building relationships with their customers, it also allows 7 Elevens vendors to anticipate their needs and prepare and deliver items in a faster than expected timeframe (Buchanan, Thunderbird, Simmons, Washington and Lee University, 2004, pg. 6) providing advantage to 7 Eleven, their customers and their vendors. Expanding core business The expansion of the core business into services such as Internet provision and hot fresh meals sees 7 Eleven providing an alternative service to it customers. This gives customers additional reason to come to 7 Eleven thus expanding the clientele base. 7 Eleven uses its management information systems to obtain competitive advantage that not only helps them decide which products to make available to their customer base, it also allows them to determine how they are going to deliver the product, a crucial component to gaining and sustaining competitive advantage (Buchanan, et. al. 2004, pg.1). In Japan, 7 Eleven have thoroughly engrossed themselves in the concept of expanding their core business to provide their customers with a one stop shop. They provide alternatives to some of the more difficult aspects of the hectic Japanese life style such as meals, ATM access and a pick up point for Internet shopping. In a cash based society they even provide a cash pick up point for e commerce goods and services. 7 Eleven in Japan has truly embraced customer service, which has helped them achieve a distinct competitive advantage in this market. 7-Eleven has exploited the economies of scope of a customer relationship business by working with a broad range of product and service vendors to define new products and services tailored to the needs of their customers (www. edgeperspectives.typepad.com). Q.2 Use the internet to find the major competitors of 7 Eleven in Japan, the United States and other countries where 7 Eleven is active. Describe the competition faced by the company. 7 Eleven has convenience stores in Japan, Australia, Mexico, Taiwan, Singapore, Canada, the Philippines, Sweden, Denmark, South Korea, Thailand, Norway, Turkey, Malaysia, China and the U.S. territory of Puerto Rico (www.7-eleven.com). The following chart depicts the breath of 7 Eleven across its territories. In Japan the major competitors of 7 Eleven are Ministop and Circle K with 1700 (www.ministop.com.ph) and 3000 (www.circlek.com).stores respectively. Compared with the number of stores occupied by 7 Eleven (www.sej.co.jp) it could be concluded that the neither poses any real threat. Both provide very similar services to 7 Eleven including the provision of ready to eat food products, internet services and bill payment facilities (www.circlek.com and www.ministop.com). It is worth noting that Circle K is also a major competitor in Hong Kong. In North America two of the major competitors are B. P North American with 5166 stores including trading names such as AM/PM Mini Market, Amoco, Arco, BP, B Connect, BP Express and Shell Oil Company with 4907 stores (www.csnews.com/csn/images/pdf/CSN_2006_Top100_CStores_Chart.pdf). In Australia the two major competitors to 7 Eleven are Caltex with 566 stores and Coles Express with 595 stores (http://www.cstore.com.au/industry/acn/acn2006.pdf). In Australia both Caltex and Coles Express enjoy a higher market share than 7 Eleven. All of 7 Elevens competitors use management information systems to assist them with data collection and smooth management of their value chain. The evidence suggests that in Australia and North America, the biggest competitors are those that also provide petrol. In Australia this could be partially attributed to the incentive schemes offered by Coles Express and Caltex, providing a distinct competitive advantage that gets the customer through the door and whilst they are there they pick up their bread and milk and other last minute items. The difference could also be distinguishable due to a cultural difference between Japan and western nations such as Australia and North America. Unlike Australia and North America, Asia does not operate on a car dominated transport system. Due to high levels of congestion and inadequate roads, on the whole Asia does not compare with Australia or America in the car ownership stakes. (Moriaty, P, 2000, para.3) Australia has 522 passenger vehicles for every 1000 people in (www.abs.gov.au) the United States has 776 per 1000 population (http://www.unece.org/stats/trends2005/transport.htm) compared with 374 per 1000 population in Japan (Moriaty, P, 2000, para.6). Perhaps the difference in market domination can be attributed to the difference in a cultural need. 7 Eleven have managed to find the niche market in Japan but perhaps they have failed to recognise the key aspect of the consumer oriented decision making in Australia and America. Q3. Which of porters five forces are countered by the 7 Eleven system described here? With a large and varied operation base, 7-Eleven requires advanced business processes and information systems to keep ahead of rising customer expectations and an increasingly challenging business environment. To accomplish these goals, 7- Eleven maintains a business and technology alignment that produces strategy and tactics that are not only efficient and cost effective but are also capable of delivering competitive advantage. The system adopted by 7-Eleven has a consistent and predictable IT infrastructure, one that can adjust to capitalise on changes in the business environment. The Five Forces model of Porter is an outside-in business unit strategy tool that is used to make an analysis of the attractiveness (value) of an industry structure. The Competitive Forces analysis is made by the identification of 5 fundamental competitive forces; the following are countered by the strategic framework for 7-Eleven. Threat Of New Entrants The system adopted by 7-eleven maximizes the threat for new entrants the reason being that 7-Eleven has already reached economies of scale through maintaining a strong customer base and brand loyalty. The access to latest technology and capital investments in the same ensures that the barrier for entries for new entrants is huge .The chain also maintains a wide distribution channel thus the likelihood of retaliation from existing players is diminished. Bargaining Power of Suppliers With the implementation of inventory control systems such as JIT and production of customised products by specialized companies the supplier base is strong for 7-Eleven. However since these suppliers are not dominant they do not threaten to integrate forward into the industry, the reason being the product line is huge and few specific products do not dominate customer requirements. The broad range of products supplied has seen them forge sound relationships with a plethora of suppliers. Additionally they have achieved a level of horizontal integration with the creation of their own supply companies who make customised products under their own branding. Intensity of Rivalry 7-Eleven has emerged as a clear market leader in terms of competition with similar convenience stores because of its highly customer focused orientation and implementation of various information systems adding to its differentiation strategy. Rivalry is further reduced because of the switching costs buyers face with the presence of customised goods. The organisation does not possess high fixed costs and this discourages competitors from manufacturing with price cuts. Q.4 Which strategies of those suggested in the various frameworks are noticeable in this case? 7-Eleven Japan is thriving, owing largely to their digitized foundations, IT infrastructures and business processes that automate core capabilities. Building such foundations requires a sound operating model, a solid enterprise architecture, and IT engagement throughout the company. The company bases its business strategy on a retailer initiative. Each 7-Eleven store tailors its products and services to its neighborhood; the retailing environment is highly dynamic and complex. 7-Eleven Business Model The 7-Eleven business model consists of five key strategies: 1. A differentiated merchandising strategy; 2. utilisation of 7-Elevens retail information system; 3. managed distribution; 4. providing a convenient shopping environment; and 5. a unique franchise model (Stout J, 2005). Differentiated merchandising strategy. 7-Eleven offers a broad array of products, including many not traditionally available in convenience stores, to meet the needs of its customers. These products include high-quality fresh foods that are delivered daily to stores. In addition, the company sells a number of products that are developed specifically for its stores. Utilization of 7-Elevens retail information system. 7-Eleven was the first major convenience store chain in the United States to use an integrated set of retail information tools. Effective utilisation of the system is the foundation of the companys business model. Managed distribution. 7-Eleven works with its vendors and distributors to provide daily delivery of fresh food and other items to its stores, to lower the cost of delivery, and to shift deliveries to off-peak hours. Providing a convenient shopping environment. 7-Eleven seeks to provide its customers with a convenient, safe and clean store environment. The majority of 7-Eleven stores in the United States and Canada provide more than 6 million daily customers with 24-hour convenience, seven days a week. Unique franchise model. More than half of the 7-Eleven stores in the United States are operated by independent franchisees. The companys franchise model is different from most others because 7-Eleven owns or leases the stores and equipment used by its franchisees. In addition, the ongoing royalties that the company receives from its franchisees are based upon a percentage of store gross profit (Stout J, 2005). Apart from this The Just In Time approach for inventory management makes sure that the goods are delivered on time to the point of sales keeping the customer orientation strategy in mind. Q.5. Which business pressures are evident in this case? Retailing is a competitive market in Japan. As stated by Lohtia Subramaniam (2000), in 1994 Japan had 1.5 million retail stores. To put this into context, there were 12 retail stores per 1000 persons in Japan compared to six in USA. In the countries of western Europe, the number of establishments per 1,000 people was close to seven, (Tsuchiya Riethmuller, 1997). While this trend is slowly changing in Japan with the number of retailers declining, the number of convenience stores has been growing. In 1994 there was 48,405 convenience stores compared to 29,236 in 1985. In this same period 7-Eleven has grown from 2,651 stores in 1985 to 5,905 stores in 1994, up to 11,310 (as of February 28, 2006) (www.sej.co.jp, 2007). Low availability and high cost Japanese real estate has seen a trend of small food retail outlets across the country. In 1993, 28.3 per cent of stores had a selling area of under 20m2 and 89.2 per cent had a selling area of under 100m2, (Tsuchiya Riethmuller, 1997). In addition to the high competition the floor space to display and store stock is very limited in Japan. In contrast to the typical US distribution channel which is open, independent and margin-driven, Japanese distribution channels have typically been long, complicated networks where it was not uncommon to have as many as four layers of wholesalers. Such intricacy of the Japanese distribution channel is deeply rooted in the Japanese culture and socio-economic setting that underlies Japanese business customs (Min,1996). Wholesalers have long controlled the Japanese distribution channel through vertical integration, financial linkage, and reciprocity dealings. By the late 1980s 7-Eleven US was losing a lot of money, which continued through to the early 1990s. It was seen as a franchise system with retailers sharing little more than a common brand name with tired generic products. A lot of stores were not only performing badly, they looked run down and unappealing to the customer. Due to poor management of its supply the fresh foods where limited in range and often far from fresh. Pricing was inconsistent with high discounting on some lines and prohibitively high prices on others. It was viewed as a last resort rather than a convenience-shopping experience. 7-Eleven US had got itself into considerable debt and was bankrupt when it had to be rescued by its Japanese franchisee in 1991. Q.6. Which corporate response activities are evident in this case? The success of 7-Eleven Japan has set itself as a benchmark. Meyer-Ohl (2004) states that the perception of the convenience store in Japan is of being the most advanced form of Japanese retailing in having considerable success in merchandising backed up with comprehensive systems. The achievements of 7-Eleven have largely influenced this as it is the largest company and most other companies did not achieve the same level of profitability. 7-Eleven Japan has displayed strong growth and today it remains Japans most profitable retailer and has a market capitalisation that ranks it in the top three retailers in the world. It has achieved this despite the fact that the Japanese economy in the 1990s had been in deep recession and many retailers have seen major losses and faced incredible operating difficulties (Sparks, 2000). Japans success came from a customer driven merchandising system. Its implementation of a $200 million information system for its stores in the early 1990s. The purpose of this system was to (1) discover who their customers were and what they want and (2) create a sophisticated product tracking system, (Case Study). It based its operations around the information provided. à ¢Ã¢â€š ¬Ã‚ ¢ Relays its orders electronically to its distribution centres and suppliers directly from its point of sale system. à ¢Ã¢â€š ¬Ã‚ ¢ 7-Eleven Japan has formed relationships with its suppliers that break the traditional Keiretsu networks of distribution, where wholesalers have had control of the relationship. It has formed strategic relationships with suppliers where it orders directly from them using a Just-in-Time approach. It has even created its own companies to manufacture customised products in response to its market trends. à ¢Ã¢â€š ¬Ã‚ ¢ Monitoring customer preferences from both the point of sale system and staff entering data about the customer as well as any requests customers make for products 7-Eleven doesnt have. This enables individual stores to change stock from slow moving lines. 70% of products are replaced each year. à ¢Ã¢â€š ¬Ã‚ ¢ Determining product mix and how much shelf space allocated to each product. à ¢Ã¢â€š ¬Ã‚ ¢ Rotating stock at least twice each day to suit purchasing trends of customers throughout the day. à ¢Ã¢â€š ¬Ã‚ ¢ Monitoring staff performance and rewarding high performers. à ¢Ã¢â€š ¬Ã‚ ¢ Quality control data is collected by a team of 200 inspectors regularly visiting the stores. This is entered into and analysed by a computerized decision support system at headquarters. à ¢Ã¢â€š ¬Ã‚ ¢ Expanding on its traditional convenience food, beverages and fuel type product offerings with, such as ATM, phones and phone cards, internet kiosks and even beer. As outlined by Sparks (2000), the Japanese model of convenience stores has been introduced to the United States. 7-Elevens core functions are managing the data on what its customers buy and honing its unique merchandising skills. 7-Elevens core business is merchandising the pricing, positioning and promotion of ready-to-eat food, snacks, fuel and sundries (Gottfredson Phillips, 2005). It improved its systems to enable it to control and make the most of critical capabilities such as stock price to key metrics like inventory turns. While sticking to its core competencies and some core products the Japanese model used market information for a localised approach at the store level in product offering. The slow but strategic changes for 7-Eleven US have been concentrated on the following elements: à ¢Ã¢â€š ¬Ã‚ ¢ Poorly located and performing stores have been closed. à ¢Ã¢â€š ¬Ã‚ ¢ The stores have been remodeled, with new designs and layouts. The remodeling has included the introduction of point of sale systems (POS). This enables a customer driven approach where using their feedback for product selection and development. à ¢Ã¢â€š ¬Ã‚ ¢ Offering a core range which is supplemented by products selected to meet local needs, stocking proprietary or exclusive products where possible. à ¢Ã¢â€š ¬Ã‚ ¢ Non-food products have been introduced including phone cards and phones as well as additional services through ATMs and trailing of a financial services centre. à ¢Ã¢â€š ¬Ã‚ ¢ Standardised pricing that is more competitive. à ¢Ã¢â€š ¬Ã‚ ¢ Re-positioning of the business to have fresh foods and convenience elements to meet modern consumer demands. Daily supply of many of these products through a reconstructed distribution and production chain. à ¢Ã¢â€š ¬Ã‚ ¢ The combination of new products of a high quality and found only in a 7-Eleven, and backed by trademark development and protection and a more focused advertising strategy is summarized in the companys first, best and only slogan. à ¢Ã¢â€š ¬Ã‚ ¢ The distribution system itself has been re-engineered and Combined Distribution Centres have been introduced to better manage the flow of products into the stores. A high level of control of the supply chain has been achieved. à ¢Ã¢â€š ¬Ã‚ ¢ A high quality and advanced retail information system has been introduced, which closely resembles the model in Japan. Many of the business processes were operated manually for a long time to understand the critical elements driving the business. Now with the introduction of technology this process can move further ahead and can aid the store employment and management situation by freeing up staff time. This extra time will enable gathering market information. Q.7 Does the procedure of collecting customers information infringe on their privacy? Why or why not? Is it unethical? Should customers have the right to anonymity, or check that information collected on them is accurate? The procedure of collecting information about customers does not infringe on their privacy at all. The procedure is very simple and is done by observing customer behaviour and preferences in order to serve them better. It does not involve any sort of interviewing or interference with the customers. It is only an efficient way of running an organisation. As 7-Eleven is well aware of customer preferences and choices it makes it easy for them to make only those products available in ample quantities so as to serve the customers better. It is not at all unethical. Different customers have different choices. As per demography i.e. age, location. Thus 7-eleven keeps a perfect record of demand of products as per their age and location. At different times during a day different products are required by the customers. The information collected is purely from 7-Elevens point of view a way of serving them better. There would be no point of having products that do not match the customers need. So every store must be well aware of the demand of customers. If some customer questions the management as to why a particular product is always available and why some other product is not then in such a situation he can be given the reason of the information collected. Besides there is no reason for the customers to interfere with the 7-Eleven way of managing as it does not in any way infringe on their privacy. Q.8 Surf the Internet to find information about recent IT related initiatives of 7 Eleven, both in Japan and the United States. Relate them to gaining the strategic advantage. In its latest effort, 7-Elevens procurement staff have developed a tool that makes procurement productive and efficient. Its an automated system where procurement professionals can manage hundreds more requests for proposals (RFPs) and contracts per person. An important part of 7-Elevens procurement initiative is to encourage franchisees to use the new streamlined system and, ultimately, buy from recommended suppliers. Although franchisees can purchase from any convenience-product supplier, the new centralised system enables 7-Eleven to aggregate suppliers and items for consolidated negotiations (7Eleven news room, 2007). With a solid enterprise IT foundation in place, 7-Eleven has begun adding layers of advanced systems and functionalities to its industry-leading business process and technology strategy. Recent initiatives include a contact less payment option at POS to provide more convenience to 7-Elevens customers. Using radio-frequency (RF) technology, these systems enable customers to make quick and secure transactions by holding close to or tapping a reader with an RF-enabled credit card or alternative device, such as a key fob. All other aspects of the contact less payment process are handled in the same way as a traditional credit-card or debit-payment transaction (Anonymous, 2006). The contact less payment initiative has gone chain wide to 5,300 stores in the U.S. in 2006 in partnership with Chase with Blink, the MasterCard PayPass, American Express Express Pay and Visa Contactless systems. Authorisation is accomplished in seconds, and no signature is required for many purchases under $25, making this a speedy, easy, convenient and secure customer transaction. Contactless payment systems are often a first step by retailers into the emerging world of radio frequency identification (RFID), and this may be the case at 7- Eleven. We anticipate adding RFID technology to other products and services offered at 7-Eleven stores, adds Rick Updyke, 7-Elevens vice president of business development, to provide even convenience for consumers( Updyke R., 2006). Other Initiatives à ¢Ã¢â€š ¬Ã‚ ¢ Increasing use of an integrated set of retail IT tools to analyze sales on individual items, sales trends and customer preferences to improve product assortment, eliminate slow-moving product from inventory, and increase same-store sales by developing new products, such as the new fresh-food offerings that attract new customers and increase transaction size. à ¢Ã¢â€š ¬Ã‚ ¢ Expanded use of Vcom, a proprietary multi-function, self-service kiosk that offers check-cashing, bill payment, money order, money transfer, pre-paid credit cards, ATM services and access to residential telephone services (Updyke R., 2006). Conclusion Through its long term involvement and study of the market along with its extensive information systems Seven-Eleven Japan has been characterised as a major innovator in convenience store operations. By its continual improvement and sustaining this over a long period of time it has resulted in significant growth. 7-Eleven has used continual improvement in its model of a customer focused information systems approach. 7-Eleven has succeeded in the essential steps for marketing management as outlined by Wen Peng (2002), market segmentation, market segment targeting, and design and implementation of marketing mix. It has used its information systems combining its POS and staff driven customer profiling to capture market trends to base its selection and stocking of products through to aiding its inventory management and Just-in-Time approach. 7- Elevens distinct competitive advantage can be attributed to the way the information management system links with the corporate strategy and the o perational strategies of logistics, merchandising and day to day store operations (http://www.worldscibooks.com/eastasianstudies/4981.html). From this it has gleaned efficiencies that enabled it to become the number one retailer in Japan at a time of fierce competition and poor economic conditions.

The Evolution of Whales Essay -- Anthropology Essays Paleontology Pape

The Evolution of Whales The origin of modern day whales, a mystery that has puzzled paleontologists for years, may have just been solved with the discovery of an ankle bone. This discovery might sound simple and unimportant, but the bones of these ancient animals hold many unanswered questions and provide solid proof of origin and behavior. The relationship between whales and other animals has proven to be difficult because whales are warm-blooded, like humans, yet they live in the sea. The fact that they are warm-blooded suggests that they are related to some type of land animal. However, the questions of exactly which animal, and how whales evolved from land to water, have remained unanswered until now. In 2000, Dr. Philip D. Gingerich, a paleontologist from the University of Michigan, and his associates discovered two primitive whale fossils in the Balochistan Province of Pakistan. By dating the limestone located in the Habib Rahi Formation of the Balochistan Province, Gingerich estimated these fossils to be about 47 million years old. According to author David Braun of National Geographic News, â€Å"The researchers have classified one, Rodhocetus balochistanensis, as a new species of an existing genus, and the other, Artiocetus clavis, as a new species and new genus† (Braun, 5). The discovery of these two fossils suggests that the closest living relative of these primitive whales could possibly be the modern day hippopotamus. This suggested relationship is based on similarities in the bone structure between the two animals. Hippopotami belong to a group of animals called artiodactyls. This group of animals, which includes deer, camels, sheep, pigs, and cows, are â€Å"named for the even number of fingers and toes... ...ould estimate where they spent most of their time. By the length of the other skeletal bones, the size and shape of the animals could be determined, which also shared insight to its behavior. The largest primitive whales could indeed walk on land, but only did so for short periods because their legs could not take so much weight for long amounts of time. These behaviors allow scientists and paleontologists to understand even more as to how these fascinating and mysterious animals went from ruling on land to taking over the sea. References Braun, David. Ancient Walking Whales Shed Light on Ancestry of Ocean Giants. National Geographic News, September 19, 2001. Retrieved online March 15, 2004. Gingerich, P.D. et al., 2001. Origin of Whales from Early Artiodactyls: Hands and Feet of Eocent Protocetidae from Pakistan. Science, v. 293, p2239-2242.

What Does Nozicks Experience Machine Argument Really Prove? :: Philosophy Philosophical Papers

What Does Nozick's Experience Machine Argument Really Prove? ABSTRACT: Nozick's well-known Experience Machine argument can be considered a typically successful argument: as far as I know, it has not been discussed much and has been widely seen as conclusive, or at least convincing enough to refute the mental-state versions of utilitarianism. I believe that if his argument were conclusive, its destructive effect would be even stronger. It would not only refute mental-state utilitarianism, but all theories (whether utilitarian or not) considering a certain subjective mental state (happiness, pleasure, desire, satisfaction) as the only valuable state. I shall call these theories "mental state welfarist theories." I do not know whether utilitarianism or, in general, mental-state welfarism is plausible, but I doubt that Nozick's argument is strong enough to prove that it is not. I Nozick's well-known Experience Machine argument can be considered as a typically successful argument: as far as I know, it has not been very discussed and has been widely seen as conclusive, or at least convincing enough to refute the mental-state versions of Utilitarianism. (1) Indeed, I believe that if his argument were conclusive, its destructive effect would be even stronger. It would not only refute mental-state utilitarianism, but all theories (whether utilitarian or not) considering a certain subjective mental state (happiness, pleasure, desire satisfaction) as the only valuable state. I shall call these theories "mental state welfarist theories." (2) I do not know whether utilitarianism or, in general, mental-state welfarism is plausible. But I doubt that Nozick's argument is strong enough to prove that it is not. This note tries to explain my doubts. Let us begin by briefly recalling the argument: "Suppose there were an experience machine that would give you any experience you desired. Superduper neuropsychologists could stimulate your brain so that you would think and feel you were writing a great novel, or making a friend, or reading an interesting book. All the time you would be floating in a tank, with electrodes attached to your brain. Should you plug into this machine for life, preprogramming your life experiences? [...] Of course, while in the tank you won't know that you're there; you'll think that it's all actually happening [...] Would you plug in?." (3) II According to a first interpretation of Nozick's argument, it proves (or attempts to prove) that we have strong reasons not to plug into the Machine. Such reasons could not be accepted by mental state Welfarism. What Does Nozick's Experience Machine Argument Really Prove? :: Philosophy Philosophical Papers What Does Nozick's Experience Machine Argument Really Prove? ABSTRACT: Nozick's well-known Experience Machine argument can be considered a typically successful argument: as far as I know, it has not been discussed much and has been widely seen as conclusive, or at least convincing enough to refute the mental-state versions of utilitarianism. I believe that if his argument were conclusive, its destructive effect would be even stronger. It would not only refute mental-state utilitarianism, but all theories (whether utilitarian or not) considering a certain subjective mental state (happiness, pleasure, desire, satisfaction) as the only valuable state. I shall call these theories "mental state welfarist theories." I do not know whether utilitarianism or, in general, mental-state welfarism is plausible, but I doubt that Nozick's argument is strong enough to prove that it is not. I Nozick's well-known Experience Machine argument can be considered as a typically successful argument: as far as I know, it has not been very discussed and has been widely seen as conclusive, or at least convincing enough to refute the mental-state versions of Utilitarianism. (1) Indeed, I believe that if his argument were conclusive, its destructive effect would be even stronger. It would not only refute mental-state utilitarianism, but all theories (whether utilitarian or not) considering a certain subjective mental state (happiness, pleasure, desire satisfaction) as the only valuable state. I shall call these theories "mental state welfarist theories." (2) I do not know whether utilitarianism or, in general, mental-state welfarism is plausible. But I doubt that Nozick's argument is strong enough to prove that it is not. This note tries to explain my doubts. Let us begin by briefly recalling the argument: "Suppose there were an experience machine that would give you any experience you desired. Superduper neuropsychologists could stimulate your brain so that you would think and feel you were writing a great novel, or making a friend, or reading an interesting book. All the time you would be floating in a tank, with electrodes attached to your brain. Should you plug into this machine for life, preprogramming your life experiences? [...] Of course, while in the tank you won't know that you're there; you'll think that it's all actually happening [...] Would you plug in?." (3) II According to a first interpretation of Nozick's argument, it proves (or attempts to prove) that we have strong reasons not to plug into the Machine. Such reasons could not be accepted by mental state Welfarism.

Crime and Punishment Thought Piece

â€Å"Power is given only to him who dares to stoop and take it †¦ one must have the courage to dare. † According to the quote, does it mean that whoever wants the power and steps up and do something to get the power that they want, will get it? It seems like the quote is saying that courage is needed in order to get the power. In other words, power is the authority or strength that one can have. So my next question is, can EVERYONE have the power that they want if they just have the courage to be bold?I don’t think the answer is yes. If the world is made that way, it will be way more chaotic than it is right now. That way, the beggars will be able to have the power of authority that they wish to have just by stepping up and be courageous to â€Å"rebel†. â€Å"What do you think, would not one tiny crime be wiped out by thousands of good deeds? † This quote is so true. Even though you have been good the whole time, your one bad crime will wash away al l the good deeds that you were doing the whole time, even if that was over 10 years.In Korean phrases, there is a phrase saying that â€Å"the tower that you were investing in falls†¦Ã¢â‚¬  It is the phrase that people use when something that they were investing in or trying to do just falls and becomes nothing. I think part of the reason that people only remember one bad crime instead of thousands of good deeds is because people are potential to remember what’s different from others. Just like the college application, if you are different then you will be remembered longer than being all identical.

Buyer and Seller Relationship in the retail industry Essay

1. IntroductionFor umpteen historic period vendees and marketers in the turn sell sector fuddle been battling to swear break the un authoritativety as to why it is difficult to reconstruct a steady consanguinity with integrity an new(prenominal). This tin digest be callable to the know leadge hoo-hah that in that location is in a lack of to a lower placestanding on the issue. We contract to thoroughly associate the concepts of coaction, breeding Sharing, enunciate Relationship Effort, apply Investments, inscription and Trust, happiness and surgery with the unlike vendee trafficker kinships that exist in the garments retail sector. Thus the problem being app atomic subject 18ligated is the dubious consanguinity that exists in the attire retail sector among emptors and venders.The instruction exit be using a stack consisting of 37 questions that exit be issued to purchasers in the industry. A sample size of cholecalciferol costume compani es allow be apply in Cape Town, S out(p)h Africa which was selected to response the surveys. The search method is quantitative in nature. Thus the battlefield aims to c atomic summate 18fully try how buyers and marketers interact within the depict bowed stringed instrument family. just about papers nominate fey on translate orbit kind issues, but hand over non through with(p) the association with these particular concepts our plain aims to use. The main objective of our research is to provide buyers and sellers with the requirement nurture to assist them as to why there be certain imperfections in the birth.2. Literature ReviewSome research has be do on the concepts coaction, information shargon-out, vocalize human race stew, sacred investments, perpetration and assumption, mirth and proceeding, which gave an insight to how these vari fitteds develop, change and how they be maintained in the context of buyer-seller kinship. so for the aspir e of this force field twelve (12) articles write in the context of buyer and seller blood go forth be use to define and explain the to a higher place menti wizd concepts and how it is utilize throughout our research ingest.CollaborationCollaboration gutter be defined as latest development in allow for scope counsel which involves the process of on the job(p) unneurotic with your providers, stock partners or commercial enterprise in achieving a common finishing that eudaemonias all parties (McL atomic sub receivable 18n, Head & Yuan, 2002). Ellinger, Daugherty & Keller (2000) observed what on the button links marketing and logistics within a political societys integration, as wholesome as measures of carrying out that are both(prenominal) objective and subjective in nature. They redact in and narrow down collaboration as a multivariate that restores a race in a progressive way in that it increases sharing information and ideas and gathers to partners functioning together.Information sharingMcLaren, Head & Yuan (2000) has identified information sharing as the telephvirtuoso exchange of crucial confederation information with your supply chain partner for purposes that would assist severally partner in the in store(predicate). McLaren et al. (2002) discusses how a compact amongst the buyer and seller nates be expert for both parties where information sharing is of key importance. Their g haggleings were that, creating partnerships between buyers and sellers were beneficial for both parties and that the succeeder of information sharing depends on the typecast and size of the conjunction as advantageously as which chemical mechanism they used for information sharing. reciprocal blood causaJoint relationship hunting expedition refers to the combined determination and drive that is put into collaboration between buyers and sellers. Monczka, Petersen, Handfield & Ragatz (1998) argued for example that when depute organ isation is performed between buyers and sellers, the buyer behind and so form a perceptive consider in their partners abilities which will later form a solid trust in their relationship.Dedicated investmentsKnemeyer, Corsi & Murphy (2003) defined dedicated investments as particularresources and faithfuls that are transferred to a nonher party that is extravagantly gearly grave towards producing services and products. They try to prove that there are different takes of partnership development in logistics management by research do by previous researchers who puddle also done research on the existing musical theme and if there is in particular a contrast between these levels. Their findings were that the much trust there is within the relationship, the more(prenominal) partners invest in the relationship which directly increases dedicated investment.Commitment and trustCommitment refers to buyers and sellers gentle themselves and maintaining a domesticateing relatio nship in a way that will benefit both their own organisation and the familiarity they keep back an association with. Trust refers to the reliance, surety, effrontery or ability in a person or thing. In this case, it is having the reliance, surety, trustingness or ability in the working relationship of one or more organisations. Mohr and Spekman (1994) was the first to find that trust and loyalty are of ut or so importance in a buyer seller relationship, and that these agentive cases lead to the success of the relationship. ecstasy and motionSatisfaction tush be defined as referred to Mohr & Spekman (1994) as the climax of a working class by which the touch on party is merry with the quality and tip of work carried out and it meets the standard go under by the partners. process on the other hand can be defined as the intent of a task by a degree higher than specifications make out by the individual involved. Mohr & Spekman (1994) argued that the buyer-seller relati onship is a partnership which gene assesss bliss when performance expectations hold back been achieved. A study had been conducted and showed that commission and co-ordination are officially associated with gladness and an increase in profits would bring to the highest degree expiation among those parties involved in the supply chain3. interrogation HypothesesThe hypotheses are constructed with a purpose of assisting in answering the research question, which is percolateks to find The Nature of Buyer-Seller Relationships in the Retail Sector. establish on the review of the germane(predicate) literature, our hypotheses are based on some of the important variables that exist in the supply chain relationships. The relationship variables center on are fr octad and trust, performance, pleasure, conjugation relationship sweat and collaboration, and will be shown using the relevant hypotheses. These relationships form the basis of the research pro stupefys that will be teste d in the term of this study. H1 Commitment and trust has a prescribed bushel on collaboration. Since committed partners collect an effort to achieve the goals of their business relationship, high levels of committal are close credibly to produce a good collabo pass judgmentd relationship. H2 doing has a corroboratory touch on on collaboration.The vividness of collaboration in a supply chain relationship depends on the power of the chain performance short (performance within one year), medium-term (performance over one to three old age) and long-term (performance over cardinal to five days). H3 Satisfaction has a positive impact on collaboration.The extent to which the buyers and sellers in the supply chain relationship are conform to, determines the strength of their relationship. Thus, when both parties are squelched with the collaboration, their relationship will produce good results. H4 Joint relationship effort has a positive impact on collaboration. By engag ing in a joint relationship effort that involves sharing resources and capabilities, buyers and sellers can achieve a profi flurry collaboration that they cannot create alone.4. Research MethodologyAn exploratory-descriptive study was conducted to write this research report. The context selected for this study tapered on the garb retail sector. The unit of digest in this study was the nature of buyer and sellerrelationship in the clothing retail sector. We focused on the buyers perceptions of the relationship as we were unable to collect entropy from both buyer and seller. Even though having info collected from both parties would have been more beneficial, condemnation and finances were a constraint and had to be taken into good will therefore it resulted in focusing on one side of the relationship. Internet searches of sundry(a) clothing companies were compiled. Each partnership was contacted by telephone so that we would be able to speak directly to a clothing buyer. The y were notified beforehand as to the purpose of this study and that their participation would be fundamental in completing this research report.The clothing buyer had the choice as to receiving the questionnaire via email or an interview. Most questionnaires were sent via email as buyers had other consignments as well and preferent this form of communication. A sum of five hundred questionnaires was sent to various companies within the clothing retail sector, of which, only 106 ( solution valuate of 21%) gag rules were get that was used for analysis. This answer rate was lower than we had anticipated but we had to work with the data provided and lodge the process as it was a busy period for approximately buyers at that time. The surveys were coded and then uploaded on a spreadsheet as it was simpler to analyse the data and descriptive statistics had been implemented to construct the necessary charts that would give over the findings. The following chart was designed to embellish the receipt rate of the survey. escort 1 Percentage of Responses Coded5. Data analysis and FindingsIn this component of the report there will be a detailed password on the data collected in the survey as well as a government agency of the findings. There will be a detailed analysis of the hypothesis tested and also an translation of how the findings were derived. To carry through the report 500 surveys were distributed to companies across South Africa. Only 106 of the companies responded but there were a number of biases. With regards to the nature of the relationship with provider 5 answerings didnt answer, under the sections joint relationship effort, dedicated investments and commitment andtrust there was 1 answerer who didnt answer the questions. Under the satisfaction section 7 answers were left unoccupied and 2 of the questions were answered with incorrectly. Under the performance section 8 answers were left blank.The following hedge was designed to displ aying the mean, median, mode and range. Below is the confuse 1 showing all the data. inculpateMEDIANMODERANGE1. zero(prenominal) age AT COMPANY8.73809575382.NO. eld IN CURRENT POSITION6.62948241373.NO. YEARS WITH SUPPLIER12.016101060Table 1 Mean, median, mode, range, standard devianceThe first row in the table 1 above illustrates the number of years the respondent has been with the follow. This information shows that the average bill of years a respondent has been with the federation is 8.738095 years, the midst rat retort was 7 years, the approximately back up response was 5 years and the difference between the respondent who has been with the company the least(prenominal) derive of years and most amount of years is 38 years. Since the respondents have a number of years with the company it means that they are well-known(prenominal) with the companys way of business, how they bring with suppliers, who all the suppliers are and also the type of relationship they have with the suppliers.The second row illustrates the number of years the respondents have been in the company. It shows that the average amount of years a respondent has been with the company is 6.629482 years, the middle frequent response was 4 years, the most frequent response was 1 year and the difference between the respondent who has been with the company the least amount of years and most amount of years is 37 years. The high number of years that some of the respondents have been in their current positions gives an indication the information minded(p) is reliable and that it will aid in answering the question at hand.The ternion row depicts the number of years the company has spent with the supplier. It shows that the average amount of years a respondent has been with the company is 12.016 years, the middle frequent response was 10 years, the most frequent response was 10 years and the difference between the respondent who has been with the company the least amount of years and most amount of years is 60 years. The high number of years with same supplier shows that the information collected depicts a ruffride relationship between the buyer and the seller. eyesight that the relationship is matured the main focus of both the buyer and the seller would then be to continue to build on the relationship so that they can be in business for even more years tocome.The following chart illustrates the position of the respondents which in turn goes with the number of years the respondents have been in their current position. It shows that 5% are CEOs, 1% coos, 7% directors, 10% gross sales coachs or supervisors, 12% other employees and 48% buyers. The fact that such a high number of the respondents are buyers displays that the questions answered are quite faithful since they have a good apprehensiveness of the relationship with the supplier. The buyers best understand the relationship with the supplier and since the study at hand is expression at the collabo ration of buyers and sellers, the information gathered will have a great impact in answering the given hypothesis. Figure 2 Current positionCommitment and TrustFigure 3 spot of respondents to questions about commitment and trustverbal descriptionThe above data represents responses pertaining to questions about commitment and trust amongst buyers and their suppliers in supply chain relationships in the clothing sector. The graph illustrates whether the buyers hold up or disaccord to the extent of commitment they have with their suppliers. The x-axis of the graph represents the crustal plates between potently take issue and potently agree. Meanwhile, the y-axis of the graph represents the response scores of the buyers. psychoanalysisWhen assessing the data, it is evident that 7 hundred and forty one (741) responses were obtained in the commitment and trust section of the questionnaire. taking a closer look at the responses, it is evident that 4% of the respondents strongly disagree that commitment and trust have a positive impact on collaboration. Meanwhile, 6% of the respondents have a neutral opinion, and 90% of the respondents strongly agree to the questions.The low 4% skill have been supported by the fact that their companies are in business on a short-term basis. Thus, they do not foresee the business relationship continuing for a long time, truly little investment has been injected to their relationship, thus commitment is very low. The slowly rising 6% response rate could have been due to the fact that buyers are not certain where their loyalties lie with that certain supplier. Another factor could be because they are still in early business with the supplier, so the suppliers commitment and trust to the buyers company have not reached maximum levels yet. The very high response rate of 90% can be regularised by various factors.The supplier is rattling concerned that the buyers company succeeds buyers expect the business relationship to con tinue for a long time the buyers are committed to their supplier effort and investment have been made to build their relationship they expect the relationships to strengthen over time, etc. These factors prove that these buyers support the hypotheses stated, that commitment and trust have a positive impact on collaboration. Therefore, this data proves Mohr and Spekman (1994) correct when they erect that trust and commitment are of finish importance in a buyer seller relationship, and that these factors lead to the success of the relationship.PerformanceFigure 4 Degree of respondents to questions about performanceDescriptionThe graph depicts the responses of clothing buyers to four questions relating to performance being a factor of a successful collaboration among buyer and seller relationships. The horizontal axis(x axis) illustrates the Likert outgo from 1 7 which ranges from strongly disagree to strongly agree. The vertical axis(y axis) depicts the score, which is the cum ulative responses real from the clothing buyers. The above graphical representation shows the movements of responses to a set of questions aimed at performance and just by glancing at the graph one can already receive that most respondents (about 74%) strongly agree that performance has a positive impact on collaboration. AnalysisWhen assessing the data it can be seen that four hundred cardinal (416) responses were received that answered this section of the questionnaire. notwithstanding on a scale of 1 3, 12% respondents strongly disagreed with the feeling of performance enhances collaboration, 14%(scale 4) were neutral and 74 %( scale 5 7) strongly agreed on most of the questions that had been asked. The understandings that whitethorn have led to a 12% response rate could be that the buyers never had one focal supplier or were not in a long business relationship to determine if the relationship affected the businesss boilers suit performance.Furthermore, the 74% response rate may have led to buyers agreeing with H2 performance has a positive impact on collaboration, as their relationship with the seller may have contributed to the increased performance of the general relationship and company. Other factors contributing to the 74% response rate might have been that the relationship, reduced cycle times, improved wander processing accuracy as well as punctual delivery of goods, this in turn increased the accuracy of forecasts that may have been conducted. According to Ellinger, Daugherty &Keller (2000) performance may be conceptualized as the extent to which the staunchs goals are achieved, and as illustrated in the above graph the percentage of respondents that strongly agreed already indicates that performance acquired immune deficiency syndrome in positive collaboration which in turn would allow firms goals to be met effectively.Joint Relationship EffortFigure 5 Degree of Respondents to questions about joint relationship effortDescriptionThe a bove bill graph describes the number of respondents (clothing buyers) that disagree or agree that joint relationship plays an important factor in the buyer and seller relationship in the clothing sector. Respondents had to subscribe between a scale of 1 till 7 by which 1 stipulates strongly disagree and 7 refers to strongly agree. Thereafter the data was classify together according to the number of individuals that did assume between the scales of1 till 7. Respondents were asked three questions relating to joint relationship effort. These were as follows , whether the firm and supplier has 1) joint teams 2) conduct joint be after to anticipate and resolve operational problems and whether they make 3) joint decisions about improving overall cost efficiency. When looking at the results, one can see that 49 respondents had a neutral view regarding joint relationship and 74 of the respondents strongly agrees that joint relationship plays an important role in the buyer and seller re lationship.AnalysisWhen assessing the data it can be seen that 307 responses were received that answered this section of the questionnaire. However on a scale of 1-3, 25% respondents strongly disagreed with the notion of joint relationship that enhances collaboration, 16% (scale 4) were neutral and 62% (scale 5-7) strongly agrees on most of the questions that had been asked. The reason that has led to a 25% response rate can be due to buyers and suppliers does not have joint teams and thus do not plan together as a team. Therefore they do not know the benefits of having joint teams.Therefore this data show case a large-minded view regarding joint relationship effort as being an important variable as the graph has an upward trend. Furthermore, the response rate of 62% may have led to buyers agreeing with H4 joint relationship effort has a positive impact on collaboration, as their effort and commitment in creating joint teams and planning together might have improved collaboration b etween buyer and supplier.SatisfactionFigure 6 Responses to Satisfaction in the Clothing diligenceDescriptionThe above graph describes the number of respondents (clothing buyers) that disagree or agree that satisfaction plays an important factor in the buyer and supplier relationship in the clothing sector. Respondents had to choosebetween a scale of 1 till 7 by which 1 stipulates strongly disagree and 7 refers to strongly agree. Thereafter the data was grouped together according to the number of individuals that did choose between the scales of 1 till 7. Respondents were asked eight (8) questions relating to satisfaction.The questions were as followed whether the buyer was satisfied with the relationship in terms of 1) coordination of activities 2) participation in decision making, 3) level of commitment 4) level of information sharing 5) management of activities 6) favorableness 7) market share and 8) sales growth. When looking at the results, one can see that 153 respondents ha d a neutral view regarding satisfaction and 448 of the respondents strongly agrees that satisfaction plays an important role in the buyer and supplier relationship.AnalysisWhen assessing the data it can be seen that 1508 responses were received that answered this section of the questionnaire. However on a scale of 1-3, 6% respondents strongly disagreed with the notion of satisfaction enhances collaboration, 10% (scale 4) were neutral and 84% (scale 5-7) strongly agrees on most of the questions that had been asked. The reason that led to a 6% response rate can be due to buyers and suppliers having a young business relationship and thus not reaching satisfaction levels as yet. When looking at the data, the response rate of 84% may have led buyers agreeing with H3 satisfaction has a positive impact on collaboration.This can be due to respondents identifying market share and sales growth as being devil of the most important factors being satisfied by the supplier. This relates to a stu dy done by Mohr & Spekman (1994) as they identified the completion of a task by which the involved party is pleased with the quality and degree of work carried out and it meets the standard set by the partners, market share and sales growth being the standard set by the buyer.6. ConclusionAs mentioned above the problem being researched was the knowledge gap between buyers and sellers perspective of the nature of the supply chain relationship. The research study conducted on the nature of buyer-sellerrelationship in the clothing industry was a lengthy force that involved plentiful of consultations and analysis of the data obtained. However, we have concluded that our data findings have committed to the hypotheses mentioned in the research report. As previously mentioned time and finances were study constraints for the duration of the study hence the bleached response rate of 21%.Some of the other constraints were the buyers having their own responsibilities because of the short ti me frame given in which to complete the survey. In addition, 50% of the buyers were reluctant to answer some of the questions as they contained confidential company information. Furthermore, the report only focused on the buyers perspective of the relationship. The sellers perspective was not taken into account therefore a future study using this report in combination with conducting a survey of the sellers vertex of view can lead to a better understanding of the buyer seller relationship.BibliographyCannon, J.P. Doney, P.M. 1997. An Examination of the Nature of Trust in Buyer-SellerRelationships.Journal of Marketing, April, pp.35-51. Dahlstorm, R. McNeilly, K.M. Speh, T.W. 1996. Buyer Seller Relationships in theProcurement of logistical Services.Journal of the Academy of MarketingScience, 24(2), pp.110124. Disney, S., Holweg, M., Holmstrom, J. &Smaros, J. (year unkown). Supply chaincollaboration Making sand of the strategy continuum. Ellinger, A., Daugherty, P., Keller, S., 20 00.The Relationship BetweenMarketing/LogisticsInterdepartmental Integration And Performance In U.S.Manufacturing Firms AnEmpirical Study. Journal Of strain Logistics, 21(1),pp.1-22. Handfield, R., Monczka, R., Petersen, K., &Ragatz, G., 1998. victory Factors inStrategic Supplier Alliances The Buying Company Perspective. DecisionSciences, 29(3) pp.553-577. James, A.E. et al., 2004. An sagacity Of Supplier Customer Relationships. JournalOf Business Logistic, 25(1), pp.2562. Kauser, S. & Shaw, V. 2004.The influence of behavioural and organisationalcharacteristics on the success of multinational strategic alliances.InternationalMarketing Review.21(1) 17-52. Knemeyer, A. M., Corsi, T. M. & Murphy, P. R. 2003. Logistics outsourcing relationshipsCustomer perspectives. Journal of BusinessLogistics.24 (1), pp.77-109. McLaren, T., Head, M. & Yuan, Y. 2002. Supply chain collaboration alternatives fellow feeling the expected costs and benefits. Internet Research ElectronicNetworking Applic ations and Policy. 12 (4), pp.348-364. Moberg, C. R. &Speh, T. W. 2003.Evaluating the relationship between questionablebusiness practices and the strength of supply chain relationships.Journal ofBusiness Logistics.24 (10), pp.1-19.Mohr, J. &Spekman, R. 1994. Characteristics of partnership success Partnershipattributes, communication behaviour and conflict resolution techniques. StrategicManagementJournal.15 (1) 135-152.Simatupang, T.., Sridharan, R. 2002. The Supply Chain A stratagem for InformationSharing and Incentive Alignment. The International Journal of LogisticsManagement.1, pp.1-32.

Character Sketches Essay

George was a bank clerk (who goes to relief at a bank from decennary to four each day, except Saturdays, when they trampch fire him up and put him outside at two ) and was living in a back room of the same house. The landlady betokened that, to deliver money, the two might sh be a room. They chummed together for some years both shared a love of the landing field -and a life-long friendship was formed. George, who remained a bachelor, flush to become populaceager of Barclays Bank in the Strand and outlived.Character sketch of Harris Harris is a vain fellow who pretends to be super hard working only when ordinarily pushes off the burden on opposite people. he is outspoken and does not waver to tell his friends what he thinks about them tied(p) if it may not be pleasant. for workout he outwardly tells george that his new sports jacket is utterly revolting and that he essential not wear it around them (harris and j). when harris takes on a job he makes a huge fuss out of it worry the narators uncle podger. it may not be anything majorly important but if harris is going to do it . the world would know about it. he also thinks very highly of himself and his division though his friends do not urgency him to even attempt singing. he is extremely fascinated by tombs and graveyards much to j s dis desire. he is also sort of short tempered and it is best to permit him rant off his anger alternatively than try and talk to him about it.he wouldn t mind a drink at any beat of the day and enjoys the lodge of his friends .Character sketch of Jerome Jerome is the narrator of the book. He is a young, single middle-class man living in London, much same the author himself at the time of the takings of the book, and the initial J is possibly meant to suggest that he stands in for Jerome. J is friendly of history and literature and spends much of his time stargaze about the days when knights roamed the countryside of England. This daydreaming sometimes gets him into trouble when he does not pay suitable attention to what he is doing. J, alike(p) his two friends on the gravy holder trip, is a little vain and conceited, but he realizes it and pokes gentle fun at himself, his friends, and the habits of others like them through his anecdotes, where he and his friends are often the butt of ego-skewering jokes. J has constantly been fond of boats, but prefers the old fashionedCharacter sketch of Montmorency Montmorency is the dog that attach to the three men in their river trip. Monymorency looked like an angel sent to Earth in the form of a small play tricks Terrier. He had a gentle magisterial expression which brought tears to the eyes of hoary folk. When Monmorency first arrived , the author thought that he would not live long. But , he soon changed his opinion about Montmorency when his admittedly nature was exposed.The author had to pay for chickens Montmorency had killed and had to tousle him out of umpty street distur bs. Once Montmorency killed the neighbours cat and on one occassion he had kept a man stuck in his ingest toolshed for about two hours. The author s gardener made money by betting on Montmorency s rat-killing skills. He liked to roam around and fight with dogs of a similar disreputable nature. Therefore, he enjoyed places like inns and pubs.