Role of Promotion in Retailing Essay Example | Topics and Well Written Essays - 1000 words

Role of Promotion in Retailing - Essay Example The objective of the paper is to show the promotional strategies of Adidas that have been used by the company as a part of its initiatives within 2012 London Olympics as their promotion campaign. The paper also shows the role of promotion in retailing as well as the advantages of promotion and the line marketing of Adidas. Promotional Strategies: Adidas for London Olympics 2012 Promotion is one of the most essential tools in marketing of a product. The elements of promotion are advertising, personal selling, publicity, sales promotion and direct marketing. A company makes a promotional mix to identify the budget to conduct the promotion and to recognise the importance that is to be provided to the various elements of promotional mix. The objectives of the promotional plan include augmentation of sales, recognition of the new product, brand equity creation and corporate image creation among others (McGoldrick, 2002). ... t with a outlook to meet up the necessities of the promotion Promotion helps in improving the morale as well as the satisfaction of the job of the employee By improving the morale of the employees, promotion ultimately helps in improving the organizational health It creates alertness of the survival of the product as well as the service provided Promotion helps a company to enlarge its market share Promotion provides information regarding the products as well as the services to the consumers that produces an incentive for the consumers to procure the products as well as use the services (McGoldrick, 2002) Adidas is known as one of the prominent sportswear manufacturers of the world. The Adidas Group was established by Adolf Dassler on 1949 with its headquarters in Germany. The first as well as the foremost global achievement of the brand was celebrated in 1954 when Germany won the championship of soccer. In middle of the 1980’s, the group had certain commercial breakdown but i n 1995 the Adidas Group regained its momentum and to stay in a competitive market with Nike, in 2006 Adidas had taken over Reebok. The company sponsors many games with their own capital and its sportswear such as soccer and Olympics among others (Adidas Group, 2012). To grow to be the top retailer and provide with quality products are the main visions of Adidas. Retailing is important to show the breath of the product, to build division in markets where traditional structure of wholesaling does not exist and to influence the knowledge from own retail for the whole organization (Adidas Group, 2012). Adidas is going to be the official partner regarding sportswear for the London Olympics for the year 2012 (Guardian News and Media Limited, 2012). Adidas will act as the official partner for the team

The Use of Polygraph Tests by Law Enforcement Essay Example for Free

The Use of Polygraph Tests by Law Enforcement Essay Research Question:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   How Reliable are Lie Detectors? Thesis Statement:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Lie detectors are not completely reliable. 1st Source: White Jr., R. D. (2001). Ask me no questions, tell me no lies: examining the uses and misuses of the polygraph. Public Personnel Management, 30(4), 483+. This article discusses the different ways by which the polygraph is used and misused, and recommends certain guidelines for the proper use of polygraphs.   It presents both sides of what appears to be a long standing debate on the reliability of lie-detector tests, integrating significant legal developments in the discussion.    This is a good article because it outlines the history of polygraph development and use, and contrasts the pros and the cons of using polygraphs in the public sector and in law enforcement.   The article, however, may be considered a bit flawed in the sense that it seems to imply that there is nothing wrong with using polygraphs.    In this connection, it must be pointed out that the author only prescribes the use of the polygraph in narrowly-tailored, tightly circumscribed instances, which, upon a deeper analysis, means that the author is against the wholesale, indiscriminate use of polygraphs.   In other words, the author seems to imply that as a general proposition, the use of polygraphs or the results taken therefrom are not completely reliable, and may only be considered as such in certain instances.   Another strength of the article is that it discusses not only the technical aspects of polygraph use, i.e., its validity and reliability, but also its legal and ethical or moral implications. The article is relevant to the above topic because it discusses the use of polygraphs not only against criminals, but as against the individuals that compose the public sector.   It lays down the premise that despite the controversy regarding the use of polygraphs in the past, at present, its use has become more widespread and is applied not only to criminals or suspected criminals, but also to government employees and in government agencies, who are on the right side of the law. With respect to the article’s relevance to the question on the reliability of lie detectors and the statement that lie detectors are not completely reliable, as mentioned, the article presents both sides of the argument, and the conclusion implies that, in fact, lie detectors are not completely reliable because if they were, they could be used at any given instance, at any given time, without having to prescribe specific parameters for its use. The main argument for the continued use of polygraphs is that in numerous cases, the physiological responses elicited by questioning indicate the guilt or innocence of a person, because of the way people are supposed to react when they are lying or telling the truth.   The easiest criticism against the reliability of characterizing outcomes such as increase in pulse is that each person reacts differently to a particular situation. Hence, the person may be telling the truth, but he may feel nervous at being questioned and being strapped to a machine, so his pulse may be uneven.   Studies conducted, particularly by the Office of Technology Assessment or OTA, show that there is a large variance in the cases where the individual who was tested via polygraph was held to have been telling the truth when he was actually lying, or when he was found to be lying when he was actually telling the truth. Also assailed is the lack of training of the people who operate polygraphs, and the lack of operational guidelines in the actual use of the machines, as well as the use of what are called countermeasures that enable certain individuals to â€Å"beat† the polygraph.   In conclusion, the author concedes that reliable or not, polygraphs will still be used, and thus proposes several tests or criteria by which to determine whether or not a polygraph should be used, such as the existence of a compelling public interest, the presence of independently corroborating evidence, and the imposition of stricter controls with respect to actual testing.   The use of such criteria could mitigate the inherent unreliability of polygraph testing. 2nd Source:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Dripps, D. A. (1996). Police, plus perjury, equals polygraphy. Journal of Criminal Law and Criminology, 86(3), 693 to 716.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The article presents the author’s theory that making polygraph examination results admissible in evidence as a general proposition will ward off the evil of perjury committed by law enforcement agents.   The arguments presented by the proponent are very structured and organized.   The author paints a very convincing picture of the disadvantages and prejudice brought about by the current general rule on the inadmissibility of polygraph test results vis-à  -vis police testimony with respect to suppression hearings. The only weakness of the article is that it concedes, even if merely for the sake of argument, that polygraph testing results are generally unreliable, but they should be used anyway to at least ensure that policemen do not commit perjury on the stand when they testify as to the factual milieu of the case and the seizure of evidence.   It is a good article to contrast with the first because the arguments are similar but the conclusions and implications are different, and the details should be examined more closely to determine why, despite the similarities, there still exists a discrepancy or difference in opinion.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The article is relevant to the above-mentioned topic, because it relates to the use of polygraph tests by and against law enforcement officers.   Like the first article, it presents the use of polygraphs not only as against suspected criminals, but even against those on the other side of the law.   It is relevant to the question on the reliability of polygraph testing and on the thesis that polygraph tests are not completely reliable because it argues against the thesis by citing the rules on evidence.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In the case of Daubert v. Merrell Dow Pharmaceuticals, the Supreme Court held that the use of expert testimony based on valid science is admissible in evidence.   Despite the controversy as to its reliability, several scientific agencies have attested to the valuable use of polygraphs and have provided for acceptable margins of error; after all, nothing is perfect, and to expect that polygraph results are a hundred percent reliable would be an exercise in futility.   With the allowable margin of error, polygraph results are made more reliable.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The article points out the background behind the OTA study; it was undertaken at the behest of the legislature on a move to be more stringent in regulating the use of polygraphs.   Many government institutions and agencies rely on polygraphs to help them ferret out the truth, such as the CIA, the FBI, and the Department of Defense. The article stresses that in general, polygraph test results can be relied upon, because it involves a science that has been empirically and objectively tested, and when the testing is done properly, the margin for error is acceptably low. In the specific context of suppression hearings, the admissibility of polygraph results as explained through expert testimony would better protect the rights of the accused, as many policemen are unfortunately wont to lie even under oath to ensure that crucial evidence does not get thrown out and the case against the accused does not fall apart.   At the very least, the admission of polygraph results would make law enforcement officers, and criminals, think twice about lying on or off the stand, and would contribute in some way to the proper administration of justice.

Zigbee Networks And Applications Information Technology Essay

Zigbee Networks And Applications Information Technology Essay ZigBee networking has number of applications, these applications are not just limited to home automation, inventory tracking, and healthcare but its applications are taking into account in daily life routine. Home automation is one of the major application areas for ZigBee wireless networking. The typical data rate for home automation application is 10kbps in a typical resident building. The applications of home automations are further explained. Security Systems A security system might have several sensors, including motion detectors, security cameras and glass-break sensors, these devices are required to communicate with the central security centre by either wires or a wireless network. ZigBee-based security systems are simple to install and easy to upgrade Although ZigBee has a low data rate, it has still the capability to transfer images wirelessly with reasonable quality., ZigBee has been used in a wireless camera system which do record the videos of visitor at a Front door and then transmit these recordings to monitor inside the house. Meter-Reading Systems Utility meters are needed to be read on a regular basis so as to generate utility bills. One simple way to do this task is by reading the meter manually at home premises and then enters values into a database. A ZigBee-based automatic meter-reading (AMR) system has the capability to create wireless mesh networks across residential complexes that makes link meters with utilities corporate offices. By using AMR, it provides the opportunity to remotely monitor the residenceà ¢Ã¢â€š ¬Ã¢â€ž ¢s electric, gas, and water usage. In this way it eliminates the need for a human to visit each residential unit on a monthly basis. Irrigation Systems ZigBee can be used as a part of sensor based irrigation system which is used in efficient water management. Sensors are installed across the landscaping field which can communicate to the irrigation panel. It communicates the soil moisture level at different depth levels to the irrigation panel. The panel controller than tells the watering time based on moisture level, plant type, time of day and the season readings. Light Control Systems One of the classic examples of using ZigBee is Light control in a house or commercial building. In a typical light installation system, it is necessary to install a wire from the light to a switch in order to turn on or off the light. No wired connection between the light and the switch is necessary if the light and switch are equipped with the ZigBee devices. In this way, any switch in the house can be assigned to turn on and off a specific light. A ZigBee-enabled recess light is much expensive compared to a regular recess light, but the installation cost of a ZigBee-enabled light is lower than regular recess light as it requires no extra wiring to a wall switch. Wireless remotes to control the lights is not a new concept in our daily life, By using ZigBee it provides the opportunity to implement this versatile concept on a large scale by ensuring long battery life. Multi zone HVAC Systems The multizone control system have the ability to allow a single heating, ventilation, and air-conditioning (HVAC) unit to have separate temperature zones in a house. Zoning the HVAC system can be very helpful as it saves the energy by controlling the air flow to each room and preventing the cooling or heating to unnecessary areas. ZigBee devices control the motors based on the commands they receive from the main HVAC zone Control panel and temperature sensors. Hotel Guest Room Access ZigBee-based systems can replace the magnetic key card systems which are widely used in hotels in order to access the guest rooms. The traditional room are accessed by plastic cards which have a magnetic strip on their back. The card reader installed on the guest door reads the information that is encoded on to the magnetic strip to allow or deny access to the room. The Installation of this reader to each door requires wiring through the door. A ZigBee- based room access system have a portable ZigBee device that acts as the key and a battery-powered ZigBee device inside the door that locks and unlocks it, the ZigBee based room access system do not require wiring of each door. In this way it reduces the installation cost. Fire Extinguishers Fire extinguishers are required to be checked after every 30 days in order to make sure that all canisters are charged and the filled in pressures are correct. Instead of checking the extinguishers manually, the alternative way is to connect a ZigBee-based monitoring system a sensor is to each fire extinguisher which will monitor its status and it will wirelessly communicate with the coordinator when maintenance is needed. A ZigBee-based monitoring system saves time and labor cost. It also helps to improve fire safety when the fire extinguisher is not working properly by alerting the authority. Remote Control ZigBee have applications that are used in wireless remote controls, game Controllers, a wireless mouse for a personal computer, and many other applications An infrared (IR) conventional remote control communicates with televisions, DVDs, and other entertainment devices through infrared signals. There are limitations of IR remotes. One of the limitation is that IR remotes that provide only one-way communication from the remote to the entertainment device. Also, IR signals do not have the ability to penetrate through the walls and other objects and it therefore require line of sight for its peroration properly. Radio frequency (RF) signals have the ability penetrate through walls and most objects. ZigBee is a suitable replacement technology for IR technology in remote controls as it is low cost and has long battery. ZigBee can be used to create a two way communication between the remote control and the entertainment device. For example, song information or on-screen programming options can be directly fed in to the remote itself, even when the remote control is not in the same room as the entertaining device. Healthcare One of applications of ZigBee in the healthcare industry is to monitor a Patientà ¢Ã¢â€š ¬Ã¢â€ž ¢s vital health information remotely. For example a patient is staying at his home but for him it is important that his physician monitor his blood pressure and heart rate regularly continuously. A ZigBee network has the ability to collect the data from various sensors that are connected to the patient. The 802.15.4 standard uses a 128-bit Advanced Encryption Standard (AES) technology in order secure the data flow between ZigBee devices and other networks. A patient wears a ZigBee device that is interfaced with different sensors, such as a blood pressure sensor, which gathers the information from these sensors on a periodic basis. The received information is transmitted to a ZigBee gateway. A ZigBee gateway provides the interface between ZigBee and other types of networks, such as an Internet Protocol (IP) network. The patientà ¢Ã¢â€š ¬Ã¢â€ž ¢s gathered information is then transmitted via Internet to a personal computer of a physician or nurse that they use to Monitor the patientà ¢Ã¢â€š ¬Ã¢â€ž ¢s health status. This system could help hospitals in order to improve patient care and give some relieve hospital overcrowding by giving them the authority to monitor patients at home.

Free Slaughterhouse-Five Essays: Manipulation of Time and Place :: Slaughterhouse-Five Essays

Slaughterhouse Five - Manipulation of Time and Place Kurt Vonnegut's manipulation of time and place adds a science- fiction element to Slaughterhouse-Five. Structarally, the novel is far from traditional. Billy Pilgrim, the protagonist, jumps from place to place and is in a constant time warp while on the planet Tralfamadore. Since Vonnegut uses the planet Tralfamadore and the Tralfamadorian people to take Billy from place to place and time frame to time frame, in the novel he constantly respects the phrase "So it goes," which describes the Tralfamadorians' view of death. Vonnegut's manipulation of time and place is definitely unusual. Billy, an optometrist in Ilium, New York, finds himself "time tripping" with the people on Tralfamadore. To the Tralfamadorians time does not exist. Billy can be on Tralfamadore for years, while only being absent from earth for a microsecond (26). Billy's "time tripping" also allows Vonnegut to join the three main settings and experiences of the book: the horrors of the war and Dresden, Billy's normal life in Illim, and his time on Tralfamadore. Billy has no control over his being in a time warp. In the midst of his life in New York he will suddenly find himself Tralfamadore; he has become "unstuck in time" ( 22). The Tralfamadorians eventually show Billy the important moments of his life, but they do not always show them in sequence. They do this so Billy can fully understand the true reasons for and the importance of the events. Vonnegut also uses this tactic of time manipulation. He tells and shows the occurrences of Billy's life in a juxtaposed manner which parallels the "time tripping." The "time tripping" and being "unstuck in time" allow Vonnegut to present the events of the war in a sequence through which they would have the greatest impact on the reader. Vonnegut's manipulation of time and place in Slaughterhouse-Five allows him to use the phrase "So it goes" for special impact . The phrase appears after every death scene. It allows the bridge from death to life, and it also allows Vonnegut to change the time frame or place of the action. According to one source, the phrase "So it goes" appears in the novel over 100 times (Boomhower).

The Rise and Fall of Enron

The meteoric rise and fall of Enron is one of the most notorious tales in the history of corporate America. Enron was the seventh-largest company in the United States in 2000 and ‘Fortune' magazine had declared it as America's â€Å"most innovative company† for six straight years; its share price had climbed from $ 10 a share in 1991 to over $ 90 a share in August 2000 while its revenue jumped to more than $100 billion. (â€Å"Rise and Fall of an Energy Giant†) No one could have predicted that before the end of the following year the â€Å"rising star† of corporate America would be filing for bankruptcy, shaking investor confidence to the core and signalling the end of the longest bull-run in the American stock exchange's history. The ramifications of the dramatic collapse still reverberate in global financial and energy markets as well the U.S. courts, where a number of former Enron managers face serious criminal charges. This fairy tale rise and ignominious fall of Enron is the subject of this paper. The Pipeline and Energy Company: Enron Corporation was formed as a result of a 1985 merger of Houston Natural Gas (HNG) and InterNorth-a Nebraska based gas pipeline company. Kenneth Lay, CEO of HNG, became Enron's first CEO and proceeded to make it the first nationwide natural gas pipeline. Enron soon became involved in in the transmission and distribution of electricity in addition to gas in the US as well as the development, construction, and operation of power plants and pipelines worldwide. Its profits were, however, modest as in those days, energy was a government-sanctioned monopoly. (Lindstorm) Taking Advantage of Deregulation: Things began to change as the gas and electricity sectors were deregulated by the early 1990s. Kenneth Lay decided to take advantage of the deregulation and hired Jeffery Skilling a young consultant with a banking and liability management background, in 1990-making him the CEO of a new division in Enron- the Enron Finance Corp. The duo proceeded to transform Enron from a ‘boringly predictable' and regulated Gas Company into one of the largest energy traders in the US that would eventually dominate the trading of energy contracts and financial instruments known as derivatives. Trading Becomes the Mantra: As Enron's revenues sky-rocketed in its initial forays into wholesale buying and selling of gas and electricity, Skilling was emboldened to extend the trading concept into almost any commodity that could be traded, i.e., futures contracts in coal, paper, steel, water and even weather. Taking advantage of the growing use of the Internet, Enron started Enron Online (EOL) in October 1999-an electronic commodities trading Web site that was hugely successful almost overnight. Skilling hired the brightest talent from the top MBA schools and turned them into high-flying traders with incentives to â€Å"eat what they killed.† (Thomas, para on â€Å"The Best, the Brightest†¦Ã¢â‚¬ ) While the company grew rapidly through the 1990s, â€Å"some of the worst manifestations of its culture-obsessions with bonuses, the stock price and exotic accounting-were also growing, and out of control.† (Fowler, â€Å"Enron's Implosion†¦Ã¢â‚¬ ) Enron did make huge profits for a short while due to highly volatile energy prices, and there was widespread perception in the company about the unlimited potential of online trade and technology innovations such as the broadband. Things started to change in the late 1990s. Other energy companies such as Dynergy, Duke Energy, and El Paso had entered the field of energy trading and the competition started to eat into the huge profit margins of Enron. Other factors such as falling energy prices in early 2001, the approaching worldwide recession and the broadband bubble burst began to work against Enron's ‘dream' run. The company, in the meantime, had embarked on a culture of cutting trading deals that had a momentum of its own that was hard to stop. Disregarding Ethics: Ethics at Enron was put on the back-burner as its corporate culture was focused on making â€Å"deals† and increasing Enron's share value. Skilling was relentless in his push for creativity and competitiveness, giving rise to â€Å"a growth-at-any-cost culture,† overriding all checks and balances, and suppressing all voices of caution. (Fowler) Its ‘ethics' was personified by Kenneth Lay's exercising of his stock options and pocketing profits, even as he was promoting Enron shares as a bargain to employees. It was also reflected in the action of some Enron executives who pressurized a brokerage company to take action against a broker who advised some Enron workers to sell their shares. (Wee, â€Å"Corporate Ethics†) Dubious Accounting: It was hardly surprising, therefore, that several Enron resorted to â€Å"innovative† accounting practices to show inflated profits and hiding their losses. Under Andrew Fastow (Enron's Chief Financial Officer) personal guidance, the company made use of thousands of Special Purpose Entities (SPEs), some of them owned by Fastow himself, to â€Å"park† its troubled assets that were falling in value, so that the balance sheet continued to show growing profits. Conflict of Interest: Despite serious accounting irregularities, no one was prepared to blow the whistle because of conflicts of interest of several key players. Enron's auditor, Arthur Anderson was also its consultant and stood to gain from ‘seeing no evil'; Kenneth Lay was busy exercising his stock options before the share value fell. J.P. Morgan, while underwriting bonds for Enron, was involved in trading derivatives contracts with the company and had a substantial share in Enron stock. Andrew Fastow was making millions in profits by doing business with the firm through secret limited partnerships. As a result, although the fall of Enron when it filed for bankruptcy in December 2001 seemed stunningly sudden to most people, conditions for the collapse had been brewing for a long time.

Solar Energy Consultancy

Solar Energy Consultancy Introduction In the contemporary world, human beings have identified solar power as one of the most essential sources of electricity power. Therefore, they have harnessed the radiant heat, in addition to, light from the sun in a process that uses a wide scope of technologies, which are ever evolving.Advertising We will write a custom report sample on Solar Energy Consultancy specifically for you for only $16.05 $11/page Learn More According to the findings of the research conducted by Schaper Volery (2007, p. 55), it is indicated that some of the technologies largely attributed with solar energy include solar thermal electricity, solar architecture as well as solar photovoltaic among other crucial technologies. Sometimes, many regions of the world experience urgent problems relating to power but considering the solar technologies, they can be of great help during such times. With the advent of solar technology, many solar energy consultancy groups have surf aced, not only in Australia but in the entire world, as well. Solar energy consultancy groups play a key role in the solar energy industry. One of the major contributions that the solar energy consultancy groups make includes conducting household inspection and thereby giving the clients a report indicating the solar options for their particular households, in addition to sites. This can indeed range full-fledged general solar installation that generates electricity to simple solar walk away lighting (Galbraith, 2001, p. 43). Thesis Statement Due to the rising demands for alternative energy in households and factories, there is a need to establish a consultancy business in the field of solar energy. Therefore, the purpose of this paper is to formulate a solar energy business model based in Melbourne, Australia.Advertising Looking for report on environmental studies? Let's see if we can help you! Get your first paper with 15% OFF Learn More For the purpose of a comprehensive coverage of all the areas required for the establishment of a solar energy consulting business, several aspects will be considered. These will include; a clear and precise of a solar energy business concept, declaration as well as an explanation of the mission statement, industry as well as market analysis, identifying the management team, development of products and services, the financial considerations, timelines and finally assumptions. Discussion The concept solar energy consultancy business Energy Saving Efficient energy use is a commonly used term and it refers to the target of attempts aimed at mitigating the energy amount necessary to offer both goods as well as services. Renewable energy such as solar energy is attributed largely to the efficient use of energy. Timmons Spinelli (2007, p. 89) indeed supported this by indicating in his research findings that energy efficiency, in addition to, renewable energy is twin pillars of sustainable energy. Solar ener gy is largely used as an alternative due to its efficiency. Households and industries in Melbourne, Australia that use solar energy can be identified as using energy efficiently because, as compared to other non-renewable sources of energy, the use of costs as well as resources is greatly mitigated. Indeed, the only cost involved is during buying and installation, in addition to maintaining the installation, which is done rarely. With many households and industries in Melbourne adopting the efficient use of energy, there is a need to provide consultancy services, which include installation, servicing among other consultancy services.Advertising We will write a custom report sample on Solar Energy Consultancy specifically for you for only $16.05 $11/page Learn More For a person intending to become a consultant in the field of solar energy in Australia, it is herculean important, to start by seeking employment in a company that deals with solar products. The rationale for this is that the person will become knowledgeable in the field of solar energy and as such, it is the start point on route to become a solar energy consultant. Once a person establishes himself as a solar energy consultant in the Australian market, it is indicated in the findings of the research conducted by Grave Zacharakis (2008, p. 77) that, one should not become affiliated with any one company or even product. Further, Grave Zacharakis (2008, p. 79) asserts that, once a person becomes a solar energy industry consultant, he must be able to recommend, not only products but options, as well, across the field of solar energy. Vision Statement The objective of this solar energy consultancy is to provide a low level cost, environmentally friendly, in addition to, an innovative energy power to consumers within Melbourne and its environs through energy generating systems which are not only highly efficient, but cost effective, as well (Horngren, 2002, p. 24). Industry /M arket Analysis The solar energy industry’s background and its present status The consultancy business will be based on the Australian energy industry. To be more precise, the business competes in the non-renewable segment of the energy industry in Australia. In the last four years, the business has had average annual sales of $ 1,000,000. The last four years have been important for the business. As such, the business has experienced tremendous growth and this has been evidenced by the amount of sales made in the past four years. Generally, the sales have been increasing each year and this is a clear implication that the company is gaining ground. Based on the current growth experience, it is being forecasted that the trend will continue as long as the current practices are not only maintained but be continuously improved, as well.Advertising Looking for report on environmental studies? Let's see if we can help you! Get your first paper with 15% OFF Learn More The consultancy business, having been established six years ago, can be identified as in the rapid growth stage. This assertion is evident considering the last four years. Currently, the management of the business has embarked on development plans where is wants to invest further in renewable power generating program. However, several issues are currently facing the business. Foremost, the competent service men are less in number. However, the management has established a viable plan through which the most competent consultancy servicemen will be recruited to form part of the team. The solar energy consultancy business can be identified as currently being dominated by Melbourne’s open markets. Competitiveness The concentration of solar energy consultancy industry Industry concentration is a term used to define the measure of the number of organizations as well as the size of the organizations, which are considered predominant in the given industry. In a more precise way, indu stry concentration describes the nature of the competition within a particular industry. In the case of Australian solar energy consultancy industry, there are a number of key players. Among the big consultancy groups include Adopt a Light consultancy group, Glowing Light Consultants LTD as well as The Renewable Consultants Limited. Considering these consultancy firms, they rule a considerable market share. According to the conclusions of the research conducted by Knight and Thomas (2012, p. 23), it is indicated that Adopt a Light consultancy group commands a 20 percent market share while Glowing Light Consultants LTD commands a 15 percent market share. In a similar research conducted by Wade (2008, p. 177), it is indicated in the findings that The Renewable Consultants Limited has taken up a massive 22 percent of the market share in the solar energy consultancy industry. Generally, there are a significant number of solar energy consultancy firms. However, these firms are perceived as not posing a significant threat to this company. Clearly, the Renewable Consultants Limited is the dominant leader in the solar energy consultancy industry. However, the other two consultancy groups as well as our company pose as a threat to the proclaimed industry leader. Competition from other products Our products as well as services are competitive in nature. However, according to a recent research conducted by this consultancy group, it was found out that there are other consultancy groups within Melbourne that offer the same competitive services as well as products that we offer to the clients. Therefore, the management of this consultancy business quickly acted on the recommendations indicated in the research by establishing measures to differentiate the business’ products and services from competitive ones in the eyes of the solar energy clients (Inwood, 2007, p. 16). As such, the top management of this group embarked on the branding differentiation strategy. Barri ers to entry Generally, there are few requirements that a company must comply with before being granted entry into the consultancy industry in Australia. Further, one must provide sufficient proof to show that he has a considerable knowledge and experience with the solar energy products and services. This implies that the entry to the industry is relatively less complicated. This is the possible reason why there are various consultancy groups in the industry. The easiness to admission favors new entrants, who are considered to be prospective competitors, as they enters the solar energy market during the periods in which high profits are being achieved and therefore expanding the capacity to produce. This is a major drawback to the existing businesses as it leads to prices of the consultancy products as well as services to be driven down and similarly, the profitability level lowers down. However, the government realized that there is a condition of unhealthy competition and as such, it has established new regulations that will ensure that the entry to the industry is complicated (Shapiro, 2002, p. 54). This implies that the competitors will find it hard to enter into the industry and as such, the profit margin of this consultancy group will remain favorable. Some of the new requirements that the government has established include; Limited access to market This will greatly favor the group as it has products as well services that are not only well branded but well established, as well. If a new competitor is lucky enough to gain entry, it will have to spend a considerable amount of time money as well as efforts in an effort towards establishing a successful product as well as the service (Barber, 2011, p. 559). Limited access to technology The Australian government has sought to limit the patent technology, in addition to, other intellectual property and as such, it is a great boost to this company as new competition is not imminent. Supply chain concentration Industry rivalry The rivalry between the consultancy groups in the Australian industry, especially in Melbourne, is intense. This means that the company must be continually vigilant on the improved practices that the competitors are engaging in and therefore establish practices that are more viable in an effort towards vending competition off (Altman, 2008, p. 600) Market Trends In the recent past, the sensitivity of the price of solar energy consultancy products as well as services has changed in a significant way. Further, the demand for a variety as well as the level of emphasis on consultancy service, in addition to, support has changed. Another relevant change that has taken place in the near past is regional trends. This consultancy group sees these changes as vital since, through them, it is easy to establish new opportunities, in addition top, threats. Key Success Factors This consultancy group has access to essential resources, which are unique. In addition to this, the gro up has the capabilities of achieving economies of scale in the solar energy consultancy industry. The group also has an access to solar energy consultancy services and products’ distribution channel. Further, the group has experienced an excellent technological progress. The company sees these as key success factors and as such, they are essential, as they will assist the company in its efforts towards achieving the marketing objectives. However, the company is aware that these key success factors will change going into the future, especially as the consultancy products as well as the service progresses through their life cycle (Mills, 2008, p. 55). Distribution Channels Existing channels of distribution The consultancy group ensures that it contacts its clients in a direct manner. Trends and emerging Distribution channels The company has recently embarked on efforts aimed at discovering new distribution channels for its consultancy products as well as services in an effort t owards developing a competitive advantage, in addition to, enhancing its market share. Channel power structure The brands that the consultancy owns have little brand equity. This implies that the consultancy group has power over the manufacturers and therefore, the company has the ability to capture higher margins. The Consultancy’s management team Foremost, the company had adopted a hierarchical structure. A hierarchical organizational structure is essential as it helps the personnel understand where they fit in the organizational hierarchy as well as where they can move after they are moved from their positions. Analysts These are junior most employees in the company. Each analyst of the consultancy holds a bachelor’s degree from a university having majored in a field, which is business related. The company acknowledges this as the entry-level position and as such, the position offers the ability to further move up within the consultancy business after a specified pe riod. In this case, the company requires that for one to be promoted, he must have been an analyst in the same company for a period of two years. Consultants According to Engestrom (2005), consultants are key elements as they form the bulk of any consultancy business. The people in this position were either former analysts or they were admitted directly to this position having met the company’s requirements for this position, that is, holding a Maters in Business Administration. Partners This is where the top management team falls. Partners are the senior most members of any particular consultancy business. In this company, the partners act as consultants, in addition to, assuming a managerial role. The most important thing is that partners are part of the owners of the consultancy business and therefore, they have a share in the revenues of the business. Below is the full list as well as the roles of the partners. The chief Executive Officer The Chief Executive Officer has b een mandated with the responsibilities of helping the households as well as the industries that use solar energy to face the unique challenges emanating from the adoption of solar power as the source of energy. He ensures this by leading in solar energy’s planning retreats, facilitates meetings, in addition to, conducting surveys of both the employees as well as the customers. The chief executive officer is involved in a number of roundtable energy saving education sessions. In addition to this, he chairs and speaks at many seminars covering solar energy industry strategies to success as well as solar methodologies suitable for energy consultancy business (Ayres, 2004, p. 28). Further, the chief executive officer of this company develops and monitors the company’s marketing strategies for the solar energy clients. Director of finance The person occupying this position is required to optimize the cash flows. Further, he is required to streamline the financial processes of the company. In addition, he is responsible with productivity enhancement, introduction of improvements in the processes as well as implementing solutions through technology. Operations Manager This docket concerns several management aspects, which include operations and implementation, management of finance, management of products and services both strategic planning and positioning and technology development, in addition to, support. Human Resources Manager The person in this position will be responsible for the management of the employees of the company. However, he will be required to focus keenly on the management of benefits, relations as well as payrolls of the employees. He will oversee the human resource functions in this company (Brigham, 2004, p. 233). Information Technology Manager A person who is considered a pragmatic technologist holds this position and as such, he is responsible with the application of technology for the sake of the company’s value, in addi tion to advantage. Business development manager This position is responsible for the performance of the sales quota, development of new businesses, founding and building strong relationships with the company’s customers, as well as, the effective management of territories, time and working teams. Service manager This position is responsible with the maintenance of a special focus on the management of information. Service Development It is made clear by Vaughan (2007, p. 55) that successive product and service development does not necessarily have to do with products. Rather, it involves the establishment of the needs, which the customer may not even be aware of and thereby developing solutions in an effort towards meeting those needs. This consultancy group will mainly dwell on service offerings. As such, the company will provide a solar energy consultancy service to its clients. For precision, the company will offer advice to the solar energy clients regarding the efficient way to save energy. As such, saving energy is the hidden need that the solar energy clients are not aware. In order to provide the best consultancy solution to this need, the company will adopt the ideation session technique. As such, the company will embark on conducting internal ideation sessions, that is, with the company employees, as well as external sessions, that is with the potential customers, in order to explore what might be possible (Krishna, 2001, p. 13). Further, the ideation session will be effective in understanding the goals of the customers as well as the most effective way to meet these goals. In addition to this, the ideation sessions will be essential, as it will be used to establish the best practices that the consultancy can apply in both the short term as well as in the long term. Further service development strategies, the consultancy business will engage in intermediary services whereby it will sell energy services from big companies at discounted rates. Ho wever, in doing this, the top management team will ensure that there is no instance the company will become affiliated with any one company. Through this, the top management team will have acknowledged the rule of consultancy, which states that; to be a consultant, it is not recommended to become affiliated with any one company or product. Financial Considerations Initial start up costs Since the company has no operating premises of its own, renting is inevitable. A team will be assigned the duty of identifying a building to set up the consultancy business premises. As such, the identified place should be rational in terms of costs, in addition to, being at strategic points where it is easily accessible. The equipments needed for this consultancy business operation includes computers, furniture, stationeries, safes, printers and photocopiers, among other equipments. These equipments will be essential in supporting the consultancy activities. The general outlay to be provided in orde r to acquire these equipments is approximated to be sixteen million dollars. In order to come up with the prices that will be charged for the services rendered to the clients, the company will establish a team to conduct an intensive research on the prices that other similar businesses charge for their services. However, during an initial research done by the company, it was established that the charges depend on the complexity of the issue at hand. Generally, the solar energy consultancy services range from as low as a hundred dollars to as high as a thousand dollars. Other costs that the clients will incur apart from the consultancy service charges will include installation costs as well as maintenance costs. As a way to market the company towards reaching a competitive advantage, the top management team will identify activities, which will be offered for free and as such, they will be considered as after sales services. Such will include clean up of the installed system among oth er activities. These events will not be included in the financial reports of the companies after the end of a financial year. Profit margin The company is targeting a profit margin of one million dollars after all the deductions have been made, that is, after considering tax on returns and interests to shareholders, among other deductions. In order to realize this budget, the financial department will be required to come up with a focused budget showing how processes will be funded. In addition to this, the financial department will have to come up with a budget that clearly outlines the sources of cash flows. The group’s future planning Time Line The essence of developing a future planning time line is to help the consultancy business focus on the prize irrespective of the stage that the company is in currently. First year After the end of the first year, the business plan of this consultancy group that it intends to start with will be re-read. The rationale behind re-readin g it in after the first year is that updates will be made, and if there is a need, the goals or even schedules of the company will be revised. In addition to this, re-reading the business plan will ensure that the management of the company is re-acquainted with the goals that were made at the starting point, which the management lost touch with during the cumbersome startup days. Going into the second year, these goals will be fixed. Second through to the fifth year Both the processes as well as the procedures that the company will have developed during the first year will be formalized in this period. In this period, the basic goal will be getting adequate information from the people and putting it on paper. Further, the procedures for operations will be written down in a manual during this period and this will prove to be of great importance. It is being considered that it will assist in helping the management of the company to think through the elements associated with the critic al tasks of the consultancy business (Hirt, 2012, p, 71). It is advisable to have a system in the organization, which is not only rational but reputable, as well. Such a system is of great value as the business plan for the first phase of sustained growth. After entering the first growth phase, that is, in the third year the company will begin the process of hiring people in large numbers that it will have done before. This process of bringing new people will be fool proofed by the management team embarking on writing down job descriptions for each and every position, whether existing or newly established. Kerzner (2009, p. 19) states that a well documented and thought of job descriptions is essential, as they help in identifying and hiring the most suitable people for the right jobs. During this period, the top management will have to consider the face that this consultancy business will present to the customers. Messages, images, in addition to other viable marketing materials wil l be codified. As such, the processes used in sales and marketing will be standardized. When the company grows too large at some particular point such that it will not be possible to manage in the hands-on way it was initially done, it will be taken as a call to bring in a management team. As the company grows during this period, it will need bigger capital and the initial sources will not be appealing. Therefore, the company will turn to banks and other lending facilities. By this time, the company will have grown larger and as such, the issue of creditworthiness will not be a problem (Matt, 2009, p. 33). As the company progresses, there will be a need for documentations. Therefore, bookkeeping procedures will have to be adopted. Further, there will be generation of not only regular but accurate financial reports, as well. These will include cash flow projections, income statements, in addition to balance sheets. Fifth to tenth year The company will embark on more sophisticated bus iness operations such as mergers and acquisitions. Assumptions The main assumption is that the accumulated funds will favor an effective entry into the solar energy consultancy business. Further, it is postulated that the current growth pattern of the consultancy industry will remain the same especially at the time this business will be making an entry. References Altman, E. 2008, ‘Strategic Management’, American Journal of Management, Vol. 2 no. 3, 589–609. Ayres, F. 2004, ‘Key Success Factors: What Managers Need to Know’, Journal of Management, Vol. 3 no. 2, 27–29. Barber, B. 2011, ‘PESTEL Analysis’, Journal of Strategic Management, Vol. 66 no. 2, 531–563. Brigham, E. F. 2004, Fundamentals of Financial Management, Cengage Learning, Belmont. Engestrom, U. 2005, Consultancy Business Manifesto. Web. Galbraith, M. 2001, Guide to Consultancy Business Planning, Masters Thesis, Oxford Digital Thesis Program 2000. 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