Nordstrom How to Succeed by Selling Just One Shoe free essay sample

When going into the store they want to make sure that you are treated with â€Å"love† and respect. They refer to their business strategy as â€Å"greed through love†. â€Å"They have perfected the art of focusing on the right customers and giving them undivided attention. A salesperson will often continue the relationship with a customer for years. † Nordstrom’s salespeople treat you in a way that makes you feel important. They want you to feel as if you are their only customer, and their most important customers. As times have hanged, more consumers have gone toward self-service and Nordstrom’s hasn’t been afraid to go in that same direction. They now offer online shopping, as well as thru mail order catalogs. â€Å"The company now aims for a â€Å"seamless† shopping experience across all sales channels, whether mail order, online or in-store. † By making everything seamless they can continue to meet the high expectations that are set forth by the consumer that shop at Nordstrom’s. We will write a custom essay sample on Nordstrom: How to Succeed by Selling Just One Shoe or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page A store that would fall at the opposite end of the continuum would be a factory outlet, or an off-price retailer, such as a Bob’s Discount Furniture, a TJ Maxx, or a Marshall’s.These stores sell items that couldn’t be sold off in regular stores, whether it be due to bankruptcy, cancelled orders, or defects. They aren’t known for the high quality merchandise or the high customer service level’s that Nordstrom is known for. Unlike Nordstrom’s, which allows you to return any item that you purchase, these stores generally operate with a â€Å"final sale policy† – once you purchase an item, it cannot be returned, regardless of the reason you may want to return it. 3. Analyze the six components of Nordstrom’s retailing mix to determine which have been the most important to the company’s success.Provide a detailed rationale. There are six components to the retailing mix – product, place, promotion, pricing, presentation and personnel. Nordstrom’s effectively uses each one of these components to contribute to its success. First, is product, which is the width and depth of the product assortment. This is the number of items displayed, and the quality of the items that are sold. By separating each item into different departments, Nordstrom’s is able to display the quality of its product in the best possible way. Second is place, the locations of the stores, and the hours in which the stores are open.This is where selective distribution comes into play. â€Å"Nordstrom has 157 stores in 27 states, but they plan to open 19 more by 2010, expanding into Boston, Ohio, and other untapped U. S. markets. † By limiting where Nordstrom’s are located, this allows them to maintain a superior product image, and charge a premium price for the products. The third component is promotion – the advertising, publicity and public relations. Nordstrom’s doesn’t rely on promotions as much as they do â€Å"word-of-mouth. † â€Å"This kind of word-of-mouth publicity means that Nordstrom spends much less on traditional advertising than its competitors do.And the stories told by satisfied customers are much more persuasive than an ad in the Sunday Paper. † One of the stories that are told in the article is of the customer service rep who sold the woman with one leg one shoe. Not only did the store gain a life-long customer from that experience, but that story may have driven in countless patrons to shop at Nordstrom’s after hearing this woman’s experience. A satisfied customer will on average tell 2 to 3 people about their experience. Those 2 to 3 people could generate 2 to 3 sales for the sales person, and those 2 people could each tell 2 people. Word-of-mouth can become very lucrative for the original sales person. The fourth component is price. With Nordstrom’s, this goes hand in hand with promotion. They sell their items at full price, believing that the price and quality of the items should speak for themselves. People should not go into the store expecting to get a great deal on an item, but more so to get a quality item. â€Å"We don’t rely on promotions, be it one-day sales, coupons, or ‘friends of friends’ sales. We think our regular pricing has to have integrity. † Nordstrom’s believes that people will treat themselves to a higher quality item, even if the price is higher.The fifth part of the marketing mix is presentation. This is the layout and the atmosphere of the location. Nordstrom’s has a â€Å"high-class† feel to their shops. They keep the merchandise in neat, uncluttered arrangements, making it easy for consumers to browse the products, and to find what they want. The knowledgeable, friendly salespeople also add to the atmosphere. The sixth and final part of the marketing mix is the personnel. It incorporates the customer services and personal selling aspects. This is the most important factor of the mix for Nordstrom’s. The salespeople are willing to go above and beyond for their customers.For example, the article tells a story of a salesperson who paid for a taxi to the airport with her own money so a customer who left their plane tickets in the store would not miss their flight. This is not something you’d expect from a store, and it is what put Nordstrom’s ahead of the pack in the customer service or personnel department. Patrick McCarthy, who was the first salesperson to generate $1 million in sales, is a great example of this. He kept handwritten notes on all of his 12,000 customers over the years. â€Å"Most companies are head experiences – bean counters are running them.When the heart is running them, it becomes exciting. † By putting their heart into their selling, the salespeople at Nordstrom’s are able to go above and beyond, creating a one-of-a-kind shopping experience for their customers. 4. Discuss the primary challenges Nordstrom faces in the current retail climate. One of the primary challenges that Nordstrom faces is changing with the times. People are changing how they want and need to shop. People no longer always need to go into the stores to do their shopping. Many consumers are now turning to online shopping.Stores are open 24/7 on the internet, something your average department store can’t do. Nordstrom’s direct President Jamie Nordstrom noticed that not all items a customer could purchase in the store were available online. This limited possible sales opportunities to the stores. Nordstrom’s needed to change not only where the items were available, but also how a customer could obtain the item. Jamie Nordstrom also noticed that if a customer purchased an item online, they were not able to return the item to the store. The inability to return to the item to the store challenged their generous return policy.This return policy is something that Nordstrom’s is known for. â€Å"Nordstrom is also known for its generous exchange policy. In a familiar story that has been forwarded around the internet for years, a man claims he was allowed to return snow tires, even though the store never sold auto parts. [†¦] Even though the company loses some money on returns, they believe it’s worth keeping customers coming back. † By adjusting their return policy, now allowing customers who purchase online to return items to the store, they are able to keep this standard and overcome a possible challenge. 5. Discuss how the competition has changed in recent years, along with consumer expectations. Competition and customer’s expectations have changed a lot in recent years. Full-service is not expected as much anymore because consumers have moved more toward self-service. Consumers are used to helping themselves with limited or no-help from sales people. This has driven competition from numerous on-line only retailers, such as Amazon. com. Consumers can also use online shopping to compare prices of different retailers to see where they are getting the best quality and the best price. Consumers do expect to find the same quality items in the retail stores as they do on the online sites. If a store is not nearby, but there is an item they wish to purchase, the customer needs the ability to order this item online. They also except that they will get the same high quality item shipped to them that they would get if they walked into a retail location and purchased the item. By expanding what they sell, and where they sell, Nordstrom’s can continue to profit and grow in the coming years. ? Gladin, S. (2003, January 01). How customer service works.

The Reluctant Fundamentalist - Change of Setting and Locale essays

The Reluctant Fundamentalist - Change of Setting and Locale essays If Mohsin Hamid's " The Reluctant Fundamentalist" was set in a time before the events on September 11th, 2001 and in a different locale, the meaning of the book and the impact it has on readers would be completely altered. Changez wouldn't be the same character and the story would perhaps center more around his relationship and experiences with Erica. Post 9/11, he is viewed by his co-workers in a new way, he is forced to endure extra security measures in airports and he is gawked at on the street by random strangers. All these occurrences shape who he is and the conversation he is having with the American in Lahore and thus change the book entirely. Changez starts out as a young man graduated from Princeton that receives a grand stroke of luck when hired at Underwood Samson. After the events of 9/11 he is no longer a hardworking intellectual man he is now viewed as a possible threat by his peers at work. Changez's story without the events of 9/11 included is just Princeton, Erica and his job. It could even be said that he may have kept his job at Underwood Samson if he hadn't endured the emotional roller coaster of being treated like a terrorist. This change in treatment and the decline of his relationship with Erica is what ultimately lead to his nervous breakdown of sorts. Pre-9/11, the theme of the book changes as well. Maybe the theme is now simply the American Dream. He graduates from Princeton, immediately receives a job at an investment bank and gains a great girlfriend which leads to his climb up the social ladder to high society in New York City. Upon analyzing the book one might conclude that Erica is representative of America, as far as before and after 9/11. Before that tragic day she is in good health and her relationship with Changez is blossoming. After that day her health begins to decline and she sinks into a very dark state of grief over her dead boyfriend Chris, the trauma of the events having brought it al...

Rutherfordium Facts - Rf or Element 104 Facts

Rutherfordium Facts - Rf or Element 104 Facts The element rutherfordium is a synthetic radioactive element that is predicted to exhibit properties similar to those of hafnium and zirconium. No one really knows, since only minute quantities of this element have been produced to date. The element is likely a solid metal at room temperature. Here are additional Rf element facts: Element Name:Â  Rutherfordium Atomic Number: 104 Symbol: Rf Atomic Weight: [261] Discovery: A. Ghiorso, et al, L Berkeley Lab, USA 1969 - Dubna Lab, Russia 1964 Electron Configuration: [Rn] 5f14 6d2 7s2 Element Classification: Transition Metal Word Origin:Â  Element 104 was named in honor of Ernest Rutherford, although discovery of the element was contested, so the official name was not approved by the IUPAC until 1997. The Russian research team had proposed the name kurchatovium for element 104. Appearance: Rutherfordium is predicted to be a radioactive synthetic metal, solid at room temperature and pressure. Crystal Structure: Rf is predicted to have a hexagonal close-packed crystal structure similar to that of its congener, hafnium. Isotopes: All of the isotopes of rutherfordium are radioactive and synthetic. The most stable isotope, Rf-267, has a half-life around 1.3 hours. Sources of Element 104: Element 104 has not been found in nature. It is only produced by nuclear bombardment or decay of heavier isotopes. In 1964, researchers at the Russians facility at Dubna bombarded a plutonium-242 target with neon-22 ions to produce the isotope most likely rutherfordium-259. In 1969, scientists at the University of California at Berkeley bombarded a californium-249 target with carbon-12 ions to produce alpha decay of rutherfordium-257. Toxicity: Rutherfordium is expected to be harmful to living organisms due to its radioactivity. It is not an essential nutrient for any known life. Uses: At present, element 104 has no practical uses and is only application to research. Rutherfordium Fast Facts Element Name: RutherfordiumElement Symbol: RfAtomic Number: 104Appearance: Solid metal (predicted)Group: Group 4 (Transition Metal)Period: Period 7Discovery:Â  Joint Institute for Nuclear Research and Lawrence Berkeley National Laboratory (1964, 1969) Sources Fricke, Burkhard. Superheavy elements a prediction of their chemical and physical properties. Recent Impact of Physics on Inorganic Chemistry, Structure and Bonding, Volume 21, Springer Link, December 3, 2007. Ghiorso, A.; Nurmia, M.; Harris, J.; Eskola, K.; Eskola, P. (1969). Positive Identification of Two Alpha-Particle-Emitting Isotopes of Element 104. Physical Review Letters. 22 (24): 1317–1320. doi:10.1103/PhysRevLett.22.1317 Hoffman, Darleane C.; Lee, Diana M.; Pershina, Valeria (2006). Transactinides and the future elements. In Morss; Edelstein, Norman M.; Fuger, Jean. The Chemistry of the Actinide and Transactinide Elements (3rd ed.). Dordrecht, The Netherlands: Springer ScienceBusiness Media. ISBN 1-4020-3555-1.

MBA Management course -'Business in Society' Essay

MBA Management course -'Business in Society' - Essay Example eading corporations of the world are now expanding their sustainability initiatives to focus on accountability and minimize risks by increasing "baseline expectations of investors" and ensuring their strategies are in line with the investment communitys objectives. This would demonstrate corporate commitment towards the investors and shareholders who ultimately will support the companys scalable sustainability endeavors.1 At IKEA, we have always believed in integrating sustainability strategies to support our work environment through materiality and operations-based initiatives. We have been ahead of our competitors in sustainability initiatives. Some of our notable projects during 2006 had been making home furnishing products safe for environmental effects; support for responsible forestry based on set up requirements for wood suppliers; support for sustainable cotton production; and acceptable working conditions. In 2007 we have introduced IWAY (IKEA Way on Purchasing Home Furnishing Products) which encourage consumers to help us achieve sustainability goals. Our current initiatives include working towards reduction of child labor, contribution towards climate impact; and going towards renewable energy by supporting sustainable transport; and working with communities towards sustainability.2 These aspects demonstrate that though, a highly environmentally conscious company, IKEA’s strategies in the past has been focused on material and operations exclusively. For the future, we need to develop more stringent strategies which Tomorrows Value report indicates as, investors perspectives of sustainability. At IKEA, we have only been able to achieve this through dialogues with unions, suppliers, companies and related organizations. So far IKEA has been able to develop a process for sustainability and mechanisms for monitoring it.3 We need to tailor our sustainability strategies to align with tomorrow’s values and sustainability to increase market opportunities.

What is Stress Assignment Example | Topics and Well Written Essays - 1750 words

What is Stress - Assignment Example It should be said that these factors influence all people: adults and children, poor and rich, politicians and mineworkers. One can hardly find a person, who had never suffered from stress. The term "stress" has become familiar in our day-to-day vocabulary. In this short and at the same time capacious word we insert the comprehension of changes in own behaviour and a full scale of emotions and feelings, which come up in difficult situations or in danger, which have become essential of our modern way of life. However it is inherent to people to dramatise difficulties of a given moment. Human's existence had never been easy. Let us remember the history of mankind. The entire development of civilization from ancient times to today has been accompanied with continuous stress. In different times people suffered from hunger, wars, deceases, nature cataclysms, conflicts of interests, necessity to adapt to new forms of social structure and changes of technologies. So stress is not an "achiev ement" of modernity, it has just reshaped under the influence of new conditions.Nowadays the question of vital importance for the society is to cope with global work-related stress, which is observable in all spheres of human activity. . One of the most stress-liable groups is students. It is obvious that they have to cope with great physical and mental tasks. They often have to deal with lucubration in exams period. So stress is a 'shadow' of any student. That is why it is important for every student to know how to cope with stress. Let us consider General Exam Stress-Busting Tips, which have been offered by ISMA (n. d.), a registered charity with a multi-disciplinary professional membership, which exists to promote knowledge and best practice in the prevention and reduction of human stress. ISMA suggests all students Believe in yourself. Don't try to be perfect. Take steps to overcome problems. Don't keep things bottled up. Keep things in perspective. In the UK it is estimated that each working day 270,000 people are absent from work with stress, and in 1996 sickness absence cost UK business & 12 billion (Ameghino, 1998). The HSE report that almost twenty millions working days a year are lost because work-related illness, and off the two million suffers of job-linked illnesses, 500,000 workers say that stress is so bad that it is making them ill (Milne, 1998).Causes of stress According to Arthur (2004, p. 160), "employees do not become stress just because of character flaws or mental health vulnerability; rather the context in which people live and work can stress them". Work-related tress can be caused by various factors (stressors). The most widespread reasons of stresses are conflicts with the leadership and colleagues. Often the stress is determined by congestion with work, overwork. Stress can be provoked by numerous assignments and requirements of leaders, which must be fulfilled immediately, without taking into account opportunities of

Customer Service Essay Example for Free

Customer Service Essay Handout In this Session, you have learned about: The principles, policies and procedures of your organisation How your organisation communicates its principles to employees Your organisation’s policies and codes of practice Consultations on changes to principles, policies and procedures Issues of public concern relating to your industry and organisation. Principles, policies and procedures Principles are the foundation of a system of beliefs within an organisation. Principles are the philosophy of the organisation, illustrating how the organisation ‘thinks’. A policy is a definite course of action adopted by an organisation, which guides employees and helps them put principles into practice. Customer service policies are similar in many organisations, but some may be tailored to fit your organisation’s specific principles. A procedure is a series of steps to be followed to correctly answer the telephone, deal with complaints, give refunds etc. Organisations tend to have their own specific procedures. Communicating principles to employees An organisation may communicate its principles to employees in the following ways: The recruitment process Reading material Group discussions Appraisals and feedback Improving team performance Principles may be worked into the recruitment process. Interviewees asked about the organisation’s principles. Organisation handbook and vision statement include principles. This may be the first thing new recruits learn about the organisation. Printing out principles and posting them in the office ensures they feature in every employee’s day. Principles could be printed on commonly used items. Hearing principles read out is more effective for some. Managers and team leaders remind employees of principles. Discussion of whether an employee adheres to principles may be part of a formal review. Company awards are used to publicise principles. Company away-days and team-building exercises are opportunities to remind employees of principles. Team-building tasks could be centred on principles. Policies and codes of practice A code of practice is a set of written rules or standards outlining the responsibilities of, or proper practices for, an employee or organisation. An industry-wide code of practice is often defined by a trade association or professional body. Policies tend to be written by an organisation and based on an industry-wide code of practice. Your organisation might make you aware of its policies or code of practice by: Publishing the code of practice/policies on their website or the intranet Emailing updates to the code of practice and policies to all employees Including the code of practice and policies in the organisation handbook Basing appraisals or feedback systems around policies / code of practice Indicating the trade association/professional body who wrote the code of practice. Consultations on change If you are consulted on changes, your opinion is considered by those making the decision. Ways to consult employees on changes to principles, policies and procedures include: Small group meetings (face-to-face or via a video conference) Questionnaire Discussion with line manager/team leader Intranet bulletins or a FAQ page Email Team bulletins Monthly newsletter Letter A trade union/employee representative or staff council. How you are consulted depends on the size and structure of your organisation, employee work practices and the information being communicated. If your organisation has 50+ employees, you have the right to request an Information and Consultation arrangement. Issues of public concern Issues of public concern relating to your industry or organisation could include: Product recall and customer safety – is your product/service safe and reliable? Confidentiality – do you store customer information securely? Accessibility – is it easy to contact your organisation/use your services? Quality – is product/service equal to competitors? Responsiveness – how quickly will you respond to a customer and resolve problems? Value customers – do you value your customers and treat them appropriately? Finances – are accounts transparent and investments ethical? Wider concerns – public health, economy, environment, exploitation of workers etc. Your organisation may deal with issues of public concern by: Establishing stringent testing and health and safety processes Ensuring varied and easily accessed means of communicating with the organisation Investing in public relations to communicate effectively with the public Establishing clear customer service policies, making them available to the public and ensuring that staff adhere to these policies Publishing the organisation’s accounts Publishing a code of practice relating to the organisation’s economic, ethical, environmental responsibilities etc.

Comparing Machiavellis Prince and Martha Stuart :: Comparison Compare Contrast Essays

Machiavelli's Prince and Martha Stuart    I believe Machiavelli's advice in The Prince was ideal for the rulers in 16th century Italy, because Machiavelli understood the motivation of most political men. Machiavelli based his theories on perfect examples throughout History. Machiavelli reverently believed his advice was essential for the uniting of Italy which was his principal desire.      Ã‚  Ã‚   Machiavelli states that in an ideal world, it is virtuous for a prince to be good. But in reality, princes who distance themselves from ethical concerns and do whatever it takes for the benefit of their states rule best. Therefore, it is better to be frugal than generous, cruel than loving, crafty than honest. Machiavelli's general rule is to be as good as circumstances allow, but be willing to resort to any means necessary for the good of the state. A prince must be willing to resort to evil if that is what it takes to overcome the change in fortune. Proper cruelty is done at one time and serves a specific purpose. Improper cruelty is repetitive and threatening to the citizens. A wise prince must be willing to practice proper cruelty in order to maintain power, but avoid improper cruelty so that his subjects do not feel hatred for him. Machiavelli emphasizes the need for the prince to win the support of the people. A feudal prince must be wise in controlling the nobles and keeping the people content.   A wise prince must not put off confrontations for another day. Even fortresses are useless if the prince does not have the support of his people.  Ã‚        Ã‚   Machiavelli makes it clear hypocrisy and deceit are legitimate methods in politics. It is not important for a prince to have good qualities; only appear to have them. The prince must have the characteristics of both the fox and the lion. The fox can recognize snares but cannot drive away the enemy while the lion can protect themselves but cannot recognize snares. In deduction, the prince must be cunning and courageous.   For Machiavelli, the wellbeing of the state has no ethical or moral implications. Anything that benefits the state is considered superior.   Machiavelli considers the appearance of being religious as the most powerful quality.

Scope of Managerial Economics

Q1. Yes. Firms represent a combination of people, physical assets, and information (financial, technical, marketing, and so on). People directly involved include stockholders, managers, workers, suppliers, and customers. Businesses use scarce resources that would otherwise be available for other purposes, pay income and other taxes, provide employment opportunities, and are responsible for much of the material well-being of our society. Thus, all of society is indirectly involved in the firm’s operation. Firms exist because they are useful in the process of allocating resources –producing and distributing goods and services.As such, they are basically economic entities Q2. A. The most direct effect of a requirement to install new pollution control equipment would be an increase in the operating cost component of the valuation model. Secondary effects might be expected in the discount rate due to an increase in regulatory risk, and in the revenue function if consumers re act positively to the installation of the pollution control equipment in production facilities. B. All three major components of the valuation model–the revenue function, cost function, and the discount rate–are likely to be affected by an increase in advertising.Revenues and cost will both increase as output is expanded. The discount rate may be affected if the firm's profit outlook changes significantly because of increased demand (growth) or if borrowing is necessary to fund a rapid expansion of plant and equipment to meet increased demand. C. The primary effect of newer and more efficient production equipment is a reduction in the total cost component of the valuation model. Secondary effects on firm revenues could also be important if lower costs make price reductions possible and result in an increase in the quantity demanded of the firm's products.Likewise, the capitalization rate or discount factor can be affected by the firm’s changing prospects. D. The time pattern of revenues is affected by such a pricing decision to raise prices in the near term. This will alter production relationships and investment plans, and affect the valuation model through the cost component and capitalization factor. E. A general lowering of interest rates leads to a reduction in the cost of capital or discount rate in the valuation model. F. Higher rates of inflation, leading to an increase in the discount rate, cause the present value of a constant income stream to decline.Unless the firm is able to increase product prices in order to maintain profit margins, the value of the firm falls as inflation and the discount rate increases. Of course, the economic effects of inflation on the economic value of the firm are complex, involving both asset and liability valuations, so determining the overall effect of inflation on the economic value of individual firms is a difficult task Q3. The economic profit concept provides the most appropriate basis for evalu ating the operations of a business since it allows for a risk-adjusted normal rate of return on all capital devoted to the enterprise.Even when business profits are substantial, economic profits can sometimes be negative given the effects of risk, inflation, and other factors. Substantial business profits are no guarantee to the growth, or even maintenance, of  capital investment. In actual practice, investors adjust reported accounting data to account for additional factors that must be considered Q4. A. Interesting perspective on the characteristics of wonderful businesses has been given by legendary Wall Street investors T. Rowe Price and Warren E. Buffett.The late T. Rowe Price was founder of Baltimore-based T. Rowe Price and Associates, Inc. , one of the largest no-load mutual fund organizations in the United States, and the father of the â€Å"growth stock† theory of investing. According to Price, attractive growth stocks have low labor costs, superior research to dev elop products and new markets, a high rate of  return on stockholder's equity (ROE), elevated profit margins, rapid earnings per share (EPS) growth, lack cutthroat competition, and are comparatively immune from regulation.Omaha's Warren E. Buffett, the billionaire head of Berkshire Hathaway Inc. , also looks for companies that have strong franchises and enjoy pricing flexibility, high ROE, high cash flow, owner-oriented management, and predictable earnings that are not natural targets of regulation. Like Price, Buffett has profited enormously through his investments. To apply Price's and Buffett's investment criteria successfully, business managers and investors must be sensitive to fundamental economic and demographic trends.Perhaps the most obvious of these is the aging of the population. Health-care demands will continue to soar. In recognition of this fact, investors have bid up the shares of companies offering prescription drugs, health care, and health-care cost containment (e. g. , home health agencies). Perhaps less obvious is that an aging and increasingly wealthy population will save growing amounts for their children’s education and retirement. This bodes well for mutual fund operators, insurance companies, and other firms that offer distinctive financial services.As the overall population continues to enjoy growing income, spending on leisure activities is apt to grow; companies that offer distinctive goods and services in this area will do well. Helping well-heeled customers have fun has always been a good business. Productivity enhancement to combat economic stagnation is also likely to be a major thrust during the coming decade. In this area, it is perhaps easier to pick likely beneficiaries of emerging technologies than it is to chart the future course of technical advance.For example, catalog retailers, long-distance and cellular phone companies, and credit card providers are all major beneficiaries of the rapid pace of advance in com puter and information technology. Similarly, major broadcasters, cable TV companies, movie makers, and software providers are all prone to benefit from increasingly user-friendly technology for leisure-time activities. B. The American Express Company, Coca-Cola, Procter & Gamble, and Wells Fargo are well-known examples of major common stock holdings of Warren Buffett's Berkshire Hathaway, Inc.Each of Berkshire's major holdings are large capital-intensive companies with long operating histories of above-average rates of return. Like any really good business, they display a wise use of assets as indicated by an average ROE that is well above typical norms. Enhancing the attractiveness of these companies is the fact that they also display above-average annual rates of growth in stockholders’ equity. Thus, they can all be described as beneficiaries of high-margin growth. As is often the case, attractive financial and operating statistics reflect essentially attractive economic ch aracteristics of each company.The American Express Company is a premier travel and financial services firm that is strategically positioned to benefit from aging baby boomers. The Coca-Cola Company, one of Berkshire's biggest and most successful holdings, typifies the concept of a wonderful business. Coca-Cola enjoys perhaps the world's strongest franchise owner-oriented management, and both predictable and growing returns. Also, the company is not subject to price or profit regulation. From the standpoint of being a wonderful business, Coca-Cola is clearly the â€Å"real thing. Newspapers, banks, and cable TV companies, such as The Washington Post Company and Wells Fargo &Company, translate immense economies of scale in production into dominating competitive advantages. They also fit Buffett's criteria for wonderful businesses. In the case of Gillette, above-normal returns stem from unique products that are designed and executed by extraordinarily capable management. The late T. R owe Price was prone to invest in high-tech companies that produced distinctive products.On the other hand, Buffett is fond of saying that he doesn’t â€Å"understand† high-tech and doesn’t want to be blown out of business by a few guys â€Å"working in a garage somewhere. † Of course, Buffett’s thinly-veiled reference to Hewlett-Packard and the Silicon Valley revolution that was started by â€Å"two guys in a simple garage† means that Buffett clearly does understand the problems of investing in hard-to-project high-tech companies. Thus, while Buffett avoids high-tech stocks, T. Rowe Price, if he were alive today, might find compelling the advantages of high-tech companies such as Microsoft, Intel, and Cisco Systems, among others. C.Above-normal returns from investing in wonderful businesses are only possible to the extent that such advantages are not fully recognized by other investors. In the case of T. Rowe Price, early investments in Avon Products, Xerox, and IBM generated fantastic returns because Price saw their awesome potential far in advance of other investors. On the other hand, Buffett has profited by taking major positions in wonderful companies that suffer from some significant, but curable, malady. In 1991, for example, Buffett made a large investment in American Express when the company suffered unexpected credit card and real estate loan losses.When the company absorbed these losses without any lasting damage to its intrinsic profit-making ability, its stock price soared and Buffett cleaned up. Companies that are conservatively financed enjoy a similar ability to profit when an unexpected business downturn causes financially distressed rivals to sell valuable assets at bargain-basement prices . Therefore, while above-average stock-market returns provide the clearest evidence of having picked good businesses for investment, short-term results can be disappointingly average or below-average if the virtues of these good businesses are clearly recognized in the marketplace.More frustrating still is the problem of finding and investing in good businesses at attractive prices and then having to wait while conventional wisdom comes around to recognizing them as such. The overall stock  market is extremely efficient at ferreting out bargains and adjusting prices so that subsequent investors earn only a risk-adjusted normal rate of return. For individual investors seeking above-average returns, finding good businesses is a necessary first step, but they must also be incorrectly priced (too cheap). Buffett succeeds because he is unusually adept at finding high-quality bargains.

E.J. Computers Case Essay

Introduction The company I am going to be doing my project on is a small firm named E.J Computers. The company have been around for about a year and a half now and have 3 staff. It’s run from a small shop, which they have just recently moved to and they are slowly expanding. Therefore I am going to introduce an Access database to help make the job of keeping the accounts work easier. Statement of problem The problem at the moment is that the company is currently using a paper-based way of doing their accounts. This way is still quite common, but it makes more work for the end-user, as he usually has to go rummaging through bits of paper and filing cabinets etc. Also a problem with doing it this way is that bits of paper etc could go missing and the data would be lost. Its slower, takes up more room and looks unprofessional. I am going to be creating a database for a computer store that sells various things, from computer parts and accessories to fully working systems. The database will consist of many tables, including ones for customer details, products, delivery etc. I will be making the database a relational database so that the tables will interact and it will make it much more easier for the end user to be able to do or get to what they want. A computer database will be a lot safer to keep the records on. If they desire the end user could use some form of data protection so that he viewing of the records are not accessible for anybody (by either pass wording it etc). This way is a lot faster, less hassle, takes up less space and I think it looks more professional. So I am going to be creating a database, which will meet all of these needs. My initial idea is to create a database consisting of 4 tables, one for the customer details, one for the components, one for the ready built computer systems, and one for the orders. Results from questionnaire I wrote a questionnaire, and took it to my end user so that he could fill it in. I got it back, and now I can use the information that he provided to enable me to design my database to suit his needs. Basically he has the appropriate equipment that is required for him to be able to use the database and he also has the knowledge. From the feedback that I got, he basically has left me to my own device on the formatting side, which is good because I can use my imagination a bit and hopefully make a good design. The end user has also said that he would also like a password on the database for data protection. This ensures that the confidential data of his customers remains confidential. He also said that he would like his database to consist of 4 tables, one for customer details, two for product details, and one for order details etc. Information about end user’s computer Fortunately, the end user already has a suitable computer system to enable him to use the database. The current system is an AMD Athlon 1500+ 512mb DDR pc2700 RAM, 40GB HDD, 40x CD re-writer, 3 1/2 † Floppy disk, 17†³ CRT Monitor. He also has sufficient software, which is a bonus. Is current operating system is Windows XP professional and he also has office 2000. Description of the previous system Input of the previous system At the moment the whole system is paper based. If a customer purchases an item, their details are written down on a little white card, this includes their name, address, telephone number etc and then it is stored into a filing case. Eddie then has to write out a receipt by hand and issue it to the customer. If a customer requires delivery, there is an extra fee for postage and packaging and their information gets put into a separate file where at the end of the day it will be processed. Process of the previous system After the information is collected it is left. Hey don’t use it for anything else like advertising or sending special offers. It is just stored in a cupboard and every time a customer phones up or comes into the store and purchases a product it is taken back out and another card is filled in. Output of the previous system Again, the information is not used for output at all, the do not send special offers or print receipts. The receipts are all manually drawn up and written out. All products are paid for up front; no credit is given so there are no fines and no need to use the data for output. Method used for the previous system Data Flow Diagram of the previous system Problems with previous System Main problems with the previous system Problem Solution Time consuming Database will be easy and quick to access and use. Storage All data will be stored on the computer and will be easily accessible and found. Untidy work area Database will be on a computer, which will be neatly stored on the desk. Untidy work All work will be word-processed, therefore the data will all be neat and easy to read. Unsafe Data The database will be pass worded so that no unauthorised access will be possible Requirements of the new system Objectives of the new system Using access 2000 I will be creating a database for the company, this will make the system a lot better for my end user. To enable me to get an idea if what my end user actually wants he has filled in a questionnaire for me. This should help me understand fully what the end-user wants. My database will consist of four tables, each table representing different parts of the company. The first table will be a table for the customer’s details, it will store the details of every customer that comes into the shop and purchases an item. It will store their name, address, telephone number and each one will have their own unique customer ID number. This information can then be used for any marketing schemes that my end-user comes up with and the data will be handy at all times. My second table will contain information about the components that are available for the customers to purchase. It will consist of a list of the products that the shop has on sale and the type of that product. It will have the price, the amount that the business has in stock and a short description. The third table will consist of a list of pre-built fully working systems that are on sale; it will have a field for system ID, the price, number in stock, and a specification of each computer system. I will then have a fourth table consisting of information of the orders that have been placed, it will have the customers ID, the ID of the product that they have ordered, how much it will cost, and whether or not it need to be delivered. How the objectives will be fulfilled Description of the new system Input of the new system As I said above I will be putting the customer and product information details into the database using a mouse and a keyboard. I will be using a mouse to select to appropriate options and applications. I will also be using a VDU so I can actually see the information that I will be putting into the system. Process of the new system The process of the system is going to be pretty simple, I spoke with my end-use and we decided that I will make queries and sorts for the tables so that the information is easier to find and get hold of. We decided that it would be a good idea if I also include a mail merged letter so that things do not have to be written time after time. Output of the new system My end user has out the point across, that the output of the system is not really as vital as the input. The main purpose of creating this database is so that the details are stored safely on the computer. However a printer will probably be needed for the purpose of printing out records, and letters etc. This is not a permanent thing and maybe things will change later but for now this would be the only output. Performance criteria and limitations of the proposed system Qualitative My database solution will enable the end user to be able to sort the customers surnames into alphabetical so that it makes it easier for the end user to be able to find a customers records. My end user will also be able to sort the prices of everything that he sells into price order (for example cheapest to most expensive). This will make it easier for the end user, so that if he gets a customer asking about certain products that are on sale he can easily do a quick sort and be able to tell the customer. Quantitative With the solution I have made my end-user will be able to find the following: * Begin using the database within 30 seconds of opening it. * Find a customer using name or ID within 15 seconds. * Find a certain product with information within 20 seconds. * Find out if there re any deliveries that need to be made within 20 seconds. System flow chart Software and Hardware considerations Hardware The hardware that I will be using to create my database is as follows: Computer system: 1.0Gghz Celeron Processor 256mb SD RAM 20gb HDD Internal AGP SiS 8.0mb GFX card 15†³ Cathode Ray Tube (CRT) monitor – Sufficient size display so I can easily see what I am doing. Keyboard – Standard RM keyboard enabling me to get the job done. Mouse – 3 button Key Mouse to make selecting options easier. Laser Printer – Printout copies of the work I am doing to take to my end-user to make sure it suits his needs accordingly. Some of my project will have to be completed at home in my own time on my own computer; my own computer consists of: AMD Athlon XP 1700+ 768mb DDR PC2700 RAM 40gb HDD NVIDIA Geforce4Ti 4800 SE Creative Sound Blaster 5.1 Microsoft Intellimouse Explorer 3.0 Optical (USB) Logitech Internet Navigator(tm) Keyboard Special Edition – Black Software The software that I will be using to create my database is as follows: Microsoft Windows 98 SE Operating System Microsoft Windows NT Network Microsoft Office 2000: Word Access – Mainly using access because it enables me to perform complex searches, have a splash screen and create an advanced database system. Excel FrontPage Outlook The software that I have on my computer at home, which will allow me to be able to design the database, is: Microsoft windows XP professional corporate edition Microsoft Office XP: Word Access Excel FrontPage Outlook Data security of the new system Use of passwords I am going to be using a password for my database, as my end user has requested it. My end – user will need a password, to ensure customer confidentiality. The password will be a word requested by the end user and only he and his staff will have access to the password and therefore the database. I have suggested that my end user should change his password on a regular basis, to ensure that if the password is found out it will get changed again. This makes the whole system more secure. Also, to make sure that the system does not get infected by viruses I have also suggested that the end – user invest in some form of anti – virus software. The software I have suggested is Norton Anti – Virus 2003 but it is down to the end – users discretion whether or not he goes ahead with it. Differences and similarities between the current system and the proposed ICT solution Similarities There are not many similarities between the two systems, as the general idea was to change the system to make it a lot better. However there is one similarity between the two systems, the same information is entered into the database as is entered onto cards. This is only a small similarity, as the whole process is completely different now. Specification – Design Possible solutions There were a few other possible solutions to my end-users problem; I came up with a number of alternatives but the database solution just seemed to stand out as being the best. The other solutions that I came up with which were taken into consideration by my end-user were as follows: * Swap the cards for sheets of paper, which could be stored in folder or filing cabinet. We decided that this would not be such a could idea, because its not really much of an improvement and my end-user needs a big improvement. * A spreadsheet using Microsoft Excel. We also decided against because is not a very efficient programme for the type of thing my end-user wants. You cannot perform clear searches or have different tables etc. * A table using Microsoft word. Again, we decided not to use word plainly because this programme is too simple and basic. It does not really include many advanced features like searches and the information cannot be stored neatly, which makes the information difficult to access. Reasons and justifications for final choice of software and hardware We eventually decided to go with the database using Microsoft Access, because overall we thought it was the best piece of software to use. A few of the reasons why we chose Microsoft Access are: * You can perform searches and queries * Data is easily accessed * Modern * You can create tables which are linked together * Create mail merged letters * Password In my hardware section I have already specified what I will be using for hardware. This specification of hardware is suitable for me to create the database because it offers enough speed and memory (both virtual and physical) to enable to be able to work efficiently. This is because the bigger the processor the bigger amount of RAM, all makes the computer a lot faster. Outputs required by the end user The outputs that are required by my end-user are: * Invoices – So that the customer has a proof of purchases. * Splash Screen – This is to improve the presentation of the database and to put information about the creator on. * Reports – To enable the end user to print out hard copies of queries etc * Mail-merged letters – So that the end user can automatically contact customers. Inputs and stored data needed to create the outputs Output What is required? Invoices Customer information, product information and details of purchase (date etc) Splash Screen My 1337 skillz Reports Results from queries from all 4 of my tables will be shown to make the reports, which will then be printed off so that the user has a hard copy Mail merged Letters Customer’s details, which can be automatically accessed. Processes that are required to produce the required outputs Knowledge and ability to use advanced package features Relationships The database that I will be creating will be a â€Å"many-to-many†. I will be in the form of first form normalisation. I will have four different tables, each having its own primary key that will be referentially integrated to a linking table, to make sure all the tables stay up to date.

“Eveline” and “The Dead” Essay Example

â€Å"Eveline† and â€Å"The Dead† Essay Example â€Å"Eveline† and â€Å"The Dead† Paper â€Å"Eveline† and â€Å"The Dead† Paper James Joyces short stories â€Å"Eveline† and â€Å"The Dead† basically share a lot of similarities in multiple aspects. Although they are thematically different, the main characters in both stories share nearly similar experiences that basically changed their views, beliefs, and decisions in life. The first notable similarity is between Gabriel Conroy, the main character of â€Å"The Dead† and Eveline, the principal character in â€Å"Eveline. † In â€Å"The Dead,† Gabriel Conroy views himself as a person who is in control of his life and, most especially his wife, Gretta. However, when Gretta suddenly cries because she remembered her past lover through a song being played in piano, Gabriel realizes that he has not in control of her since she evidently still has some past attachments that havent been settled. This incident basically changed Gabriels perception of his life and general as he laid down on his bed. Similarly, Eveline was already convinced that she wanted to escape the cruelty of his father by going away with her lover Frank but when she hears the organs that was played during her mothers death, she suddenly had a change of heart and remained in her home town. In addition, Evelines experience is also similar with Gretta as they both heard music that reminded them of their pasts. In short, the similarity between â€Å"Eveline† and â€Å"The Dead† is that both stories contained characters who suddenly stopped pursuing their desires and dreams due to a single yet significant experience. Moreover, both stories involves acknowledging and reconciling with the past and using past experiences to make decisions for the future.

Quotes from Much Ado About Nothing

Quotes from Much Ado About Nothing Much Ado About Nothing is a play of comic capers with a touch of romance. The romantic interludes between the main characters of the play, Claudio and Hero, are offset by the love-hate relationship between the other pair, Beatrice and Benedick. Claudio and Hero struggle for their union, while Beatrice and Benedick get into intellectual brawls. Heres a collection of quick-witted quotes from one of Shakespeares best-loved comedies. Act One Scene One He is of a very melancholy disposition.He wears his faith but as the fashion of his hat.Shall I never see a bachelor of threescore again?Benedick the married man.A very valiant trencher-man. Act Two Scene One He that hath a beard is more than a youth, and he that hath no beard is less than a man.Silence is the perfectest herald of joy: I were but little happy, if I could say how much.What, my dear Lady Disdain! Are you yet living?I have a good eye, uncle; I can see a church by day-light.As merry as the day is long. Scene Three Lie ten nights awake, carving the fashion of a new doublet. He was wont to speak plain and to the purpose.Sigh no more, ladies, sigh no more,Men were deceivers ever,One foot in sea and one on shore,To one thing constant never.Sits the wind in that corner? Act Three Scene Two Every one can master a grief but he that has it.From the crown of his head to the sole of his foot, he is all mirth. Scene Three I thank God I am as honest as any man living that is an old man and no honester than I.To be a well-favoured man is the gift of fortune; but to write and read comes by nature.If they make you not then the better answer, you may say they are not the men you took them for.You shall comprehend all vagrom men.The most peaceable way for you if you do take a thief, is to let him show himself what he is and steal out of your company.Shall quips and sentences and these paper bullets of the brain awe a man from the career of his humour? No, the world must be peopled. When I said I would die a bachelor, I did not think I should live till I were married.I know that Deformed.Are you good men and true? Scene Five A good old man, sir; he will be talking: as they say, When the age is in the wit is out.If I were as tedious as a king, I could find it in my heart to bestow it all of your worship. Act Four Scene One O, what authority and show of truth /Â  Can cunning sin cover itself withal!O, what men dare do! what men may do! what men daily do, not knowing what they do! Scene Two A fellow that hath had losses, and one that hath two gowns and every thing handsome about him.Flat burglary as ever was committed.Condemned into everlasting redemption.O, that he were here to write me down an ass!Masters, it is proved already that you are little better than false knaves; and it will go near to be thought so shortly.The eftest way. Act Five Scene One Men can counsel and speak comfort to that grief / Which they themselves not feel.Charm ache with air, and agony with words.He hath indeed better bettered expectation.For there was never yet philosopher /Â  That could endure the toothache patiently.Patch grief with proverbs. Scene Two I was not born under a rhyming planet. Scene Three Done to death by slanderous tongues.

Religious Concepts in a Kantian Philosophy Essay

Religious Concepts in a Kantian Philosophy - Essay Example This research will begin with the statement that Immanuel Kant was an immensely popular and influential philosopher in 18th century Germany, who produced a wide array of works on metaphysics, ethics, aesthetics, and, most relevantly, religion. Probably the most amazing aspect of Kantian philosophy is the completeness of his theoretical and practical philosophies—a distinction he himself used wonderfully in creating his set of works. The difference between pure and practical reason forms the need for his two most seminal works, Critique of Pure Reason and Critique of Practical Reason, the latter of which is more relevant to his consideration of religion. In that work and others, he fleshes out the difference between a constitutive picture of religious concepts and a regulative picture of religious concepts. Accepting the latter as a legitimate answer to one troubling antimony, Kant derives a critical philosophy which evaluates the notion of â€Å"religious knowledge†. Sc eptical of such a possibility, Kant endeavors to move religion into the realm of the non-cognitive such that claims to know what is beyond experience—the phenomenon—are immediately cast aside. The regulative approach to religious concepts Kant adopts the view that human beings should use the belief in God merely as a system of reward and punishment in morality. God, despite existing outside the realm of natural cause-and-effect, has the power to reward goodness and punish evil, thereby making human beings committed to being moral.