Saturday, May 30, 2020

Consumer Behavior Essay - 3025 Words

Consumer Behavior (Essay Sample) Content: CONSUMER BEHAVIOURByCourseInstructorInstitutionDate of SubmissionContents TOC \o "1-3" \h \z \u  HYPERLINK \l "_Toc357937860" Introduction  PAGEREF _Toc357937860 \h 3 HYPERLINK \l "_Toc357937861" Background  PAGEREF _Toc357937861 \h 3 HYPERLINK \l "_Toc357937862" Cognitive Responses  PAGEREF _Toc357937862 \h 4 HYPERLINK \l "_Toc357937863" Affective response  PAGEREF _Toc357937863 \h 7 HYPERLINK \l "_Toc357937864" Behavioural response  PAGEREF _Toc357937864 \h 10 HYPERLINK \l "_Toc357937865" Conclusion  PAGEREF _Toc357937865 \h 12 HYPERLINK \l "_Toc357937866" References  PAGEREF _Toc357937866 \h 14 IntroductionCustomer behaviour is an extremely essential spot for marketers. The current globalisation and increased competition have forced many businesses to invest in understanding the needs of the customers (Peter Olson, 2008, p. 13). This is so because the customer is a major driving force in the market. Global isation as a business concept was developed to ensure standardisation of the products. This concept was developed to speed up the process of attracting customers to a product or a service (Evans et al, 2010, p. 34). The process of standardisation of products in the global market has given rise to global brands such as Coca-Cola, Nike, and Calvin Klein. This paper intends to analyse the marketing mix of Coca-Cola and how it is used to influence consumers' cognitive, affective, and behavioural responses. Marketing mix is a combination of effective ways in which a product can be marketed to various customers. The Coca-Cola company has mostly been using promotions to attract and maintain customers. This has been done through road shows and free products for huge purchases. The brand has been improved to increase the quality of the products offered by the company. The marketing mix used by this company can be termed as unique, owing to the positive effect it has brought in the attraction of customers across the globe. BackgroundThe Coca-Cola company (TCCC) has been in existence since 1886. It is the worlds prevalent beverage company. TCCC sells its products in over 200 countries (Hays, 2012, p. 12). Coca-Cola is the oldest brand produced by this company. It is still ranked as the best global brand. Coca-Cola was first sold to the public in 1886 in Atlanta, United States. The Coca-Cola brand was registered in 1893 (The Coca-Cola Company, 2013). It is currently a global brand with the huge market among the beverage brands. The analysis of this brand will be based on how it is designed or marketed to meet the cognitive responses, affective responses, and behavioural responses of the customers.Cognitive ResponsesThis deals with marketing incentives that are targeted on influencing the customer in terms of the knowledge, beliefs and meanings (Peter Olson, 2008, p. 26). Coca-Cola has developed one of the best cognitive responses marketing stimuli. Coca-Cola has position ed itself in the market as a refreshing, fun and fizzy to keep customers on the product (Hays, 2012, p. 30). This has been the major slogan that ensures Coca-Cola retains its customers. To avert the increasing competition from global brands such as Pepsi, Coca-Cola has initiated a new approach targeting the youth who are the major consumers of the beverages. It has rebranded its image to display itself to consumers as energetic and youthful based on the new Coke Side of Life promotion.The success of the Coca-Cola brand can best be analysed based on AtkinsonShiffrin memory model. That has identified the three parts of the human memory structure. This structure is based on the short-term memory, long-term memory and sensory memory (Boyd, 2010, p. 24). The most important part of the three is the short-term memory that responds to the stimuli in this case the Coke products. Coca-Cola triggers a strong stimulus for the memory by good advertisements and distinct and colourful product pack aging. The advert showing how consumers of Coke soda are electrified is a stimulus that is strong enough to trigger propulsion of the information. This perception is maintained by the production of other adverts that related youthfulness and strength with Coke. Such information is very crucial to the customer and he/she develops an interest in the product and hence heads to the shop to pick it. In the shops, the customers meet varieties that are specifically designed for different needs. Coca-Cola goes further and ensures its products are refrigerated by offering free fringes to sellers. The customer meets a quality product and test described in the advert, but the product is maintained in that state for many years to the extent that the information is memorable and is moved to the sensory memory, resulting to customer loyalty (East et al, 2008, p.11). Coke marketing stimulus ensures that all the major human senses are utilised in developing a cognitive response the sense of sight and ears in adverts and displays, the sense of touch of the distinct packaging, the sense of smell and taste in the distinct taste of the Coke drinks (Boyd, 2010, p. 34). This ensures that a strong stimulus that will last the longest in the memory is developed.In managing the consumers knowledge, the Coca-Cola brand has redefined itself as a brand that produces products that are healthy. The introduction of the Diet Coke enabled this brand to deal with customers who were health conscious and that prefer consuming products that are low in calories. This helps in attracting and retaining of such customers (Blackwell et al, 2006, p. 14). The increasing numbers of overweight people and health consciousness and awareness has been effectively handled by the release of this product in the market. The image below shows an advert for a diet coke with images of young people who have kept their body physically healthy but still enjoying the great taste of coke soda.Figure 1: Diet coke Advertis ementSource:  HYPERLINK "http://files.coloribus.com/files/adsarchive/part_1119/11199655/file/coca-cola-zero-explosion-1-small-26378.jpg" http://files.coloribus.com/files/adsarchive/part_1119/11199655/file/coca-cola-zero-explosion-1-small-26378.jpgBeliefs vary from community to community. This is quite challenging for a global brand such as Coca-Cola (Evans et al, 2010, p. 33). Different social classes have different beliefs. All these groups form different market niches that need to be targeted by Coca-Cola. The belief of Coca-Cola drinks having chemicals that are harmful to ones health has been completely neutralised by the intensive marketing that demonstrates advertisements that show very healthy people taking the drink in a way that it revitalises the use. This has made Coke consumers acknowledge that it is a good drink that is needed by their body for them to be as healthy as those in the advertisements (Lopez, 2012, p. 22). The continuous launching of new products, display ing them as advancement of their desire to satisfy customers physical and health needs, has boosted the ability of Coke to deal with developing a belief that Coke company has a concern about their health (Hays, 2012, p. 32). For instance, Coca-Cola brand has products such as Coke, Fanta, Sprite, Diet Coke, and Fanta Lemon. All these drinks are given different advertisements to ensure the attraction of different customers based on their needs. The Sprite is best known for its quench your thirst advert and the Diet Coke are well known as a calorie-free drink for the health-conscious consumers (Evans et al, 2010, p. 26).Coke applies psychographic segmentation in dealing with the market trends (Lopez, 2012, p.43). Coke has segmented the market on the basis of income. It has packaged its products to the convenience and pocket size of the customer. Coke uses small renewable glass bottling for low-income earners, and for the high income earners, the company uses the non-returnable bottles and tin.To ensure people believe in what it preaches, togetherness, Coke sponsors major sporting events that bring millions of people together. Other than this approach providing effective promotion of its products, it ensures the customers believe in what it communicates through its adverts. Sporting events such as football, basketball and athletic are associated with Coke. This enables it to relate with people who love sports. For instance, football is one of the major global sporting events with the largest number of fans. The Coke brand has for many years been associated with football. It is almost impossible to imagine another beverage company displaying itself through the togetherness campaign using football (Blackwell et al, 2006, p. 17). It will seem awkward to the many football fans that are used to the brand, Coke.For many years, Coke has always been known to be served while cold. It can be seen as a strategy of focussing on hot areas of the world. Examining the general ge ography of the world, a considerable size of the human population occupies the hot areas Africa, Middle East, the Americas and many other places that are hot. However, this does not mean that it cannot sell in the cold parts of the world. Summer is the longest season in colder places. Therefore, sales are bound to increase during the summer. During hot days, humans naturally desire anything cold to consume. Coke and Pepsi supply the cold products. To deal with the similarity of the products of Coke and Pepsi in the market, especially for customers seeking cold beverage, Coca-Cola opted to push for the availability of its products in the market by providing cost-free freezers and coolers in the market (Blackwell et al, 2006, p. 25). These freezers ensure customers are served with chilled Coke. The exact taste of what t...

Saturday, May 16, 2020

The Activity Profile Of Health Care Assistants And Nurses

Module 5 Assignment Name: Janet Medina Date: 5/6/16 Student ID: 0028679152 Email: medina43@purduecal.edu 1. Selected Article in APA Vliegher, K. D., Aertgeerts, B., Declercq, A., Moons, P. (2015). Exploring the activity profile of health care assistants and nurses in home nursing. British Journal of Community Nursing, 20(12), 608-614. doi:10.12968/bjcn.2015.20.12.608 2. Credentials without column 4 First Author’s Credentials Meaning of all of the first author’s credentials AACN Criteria as it relates to research competencies PhD Doctor of Philosophy (Medical professional Degrees Credentials, 2005). Graduated with the highest degree of study. It includes three years of graduate study. MSN Masters of Science in Nursing (Medical professional Degrees Credentials, 2005). RN Nurse who graduated from a college-nursing program and passed the national license exam and is registered in a particular state (Medical professional Degrees Credentials, 2005). 3. Title 3a: The phenomenon of interest in the study I selected is to explore the activity profile of health care assistants and nurses in home nursing. The phenomenon is clear in the title because it states exactly what we are exploring, the activities of health care assistants and nurses. 3b: I’m able to distinguish that this is a research study. The tittle of the article is Exploring the activity profile of health care assistants and nurses in home nursing. The tittle specifically states theShow MoreRelatedMy And Long Term Career Development Goals1601 Words   |  7 PagesPersonality Profile What do you like to do? I like to spend time with my family and close friends, helping others, read, travel, and shop. What do you do well? Troubleshooting computer problems, playing the drum and singing, typing, and cooking. What do care about? My relationship with God, my family, my health, having a college education, and having a decent paying job What motivates you? My parents. 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Wednesday, May 6, 2020

The Death Of The State Of Tennessee After Memphis Essay

According to FBI 2010 UCR report, there was fifty-five homicide death reported, it’s second highest in the state of Tennessee after Memphis. Losing someone who we loved through homicide would be one of the most shocking experience, In my life period I haven’t experienced any homicide which includes my loved ones, I come from the peaceful neighborhood, since I was the child I grew up in a peaceful environment, there was low violence but minor, dangerous weapons such as guns, biological weapon or even swords were rare. I’m thankful for the way I was raised, grew up without knowing crimes, drug, weapon, etc. But when I hear news about homicide I envision how would my life change If I lose my loved ones, especially my father because men are more likely to get killed in homicide than women. It’s always strange feelings when the person was with you yesterday and today they are not here. Shared plans and dreams are no longer there, all lefts are the memories whic h were shared with a dead person. Deaths are sudden no one knows when we’re going to die but dying from another human being puts more grief than other types of death. My father is basically bread winner at the house currently, so there would be many effects in our day to day life. My reaction would be the same reaction as when someone lose their loved one s specifically father. In this type of situation, I will try to calm myself and call the police as soon as I can, I will give much information to the offices as I can, IShow MoreRelatedThe Reasonableness Of A Deadly Force Seizure811 Words   |  4 PagesIn 1985 the U.S. Supreme Court ruling in Tennessee v. Garner severely restricted the circumstances under which law enforcement officers may use deadly force to arrest a suspect. 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U.s. Congress Approved Assistance For The Colombian...

Introduction In early 2000, the U.S. Congress approved assistance to the Colombian government. Plan Colombia had clear objectives of; (1) reduce the flow of illicit narcotics and improve security, (2) promote social and economic justice, and (3) promote the rule of law.1 The assistance consisted of providing equipment, training, and financial support to the nation to combat the increase in coca and opium poppy cultivation. As more drugs appear, there has been an increase of other criminal activities including violent crimes and illegal armed groups attempting to control the drug trade. This has appeared to be a threat to the United States security and a possible contributor to terrorism. As of October 2008, the U.S.G. has provided†¦show more content†¦This addiction to substances, whether natural or manufactured, directly results in loss of lives and crime increase throughout the world. Alongside the need or want for drugs, a market is available to move, buy, and sell drugs usually run by small groups of individuals. There have been certain key players in regards to nations that have provided an environment for this market of cultivation and production of substances and trafficking. Often it is due to a lack of a strong government and a weak economy, pushing otherwise hard working, honest people to make a living by other means. Despite Colombia’s relatively strong economy and stab le government, the following introduction of coca from Peru and Bolivia took hold. Colombia became one nation that largely contributed to cocaine and heroin trafficking. A country that initially produced and exported small amounts of cocaine in the early 1970’s now has a major role throughout the world.5 From the beginning of the cultivation process, there is a large impact on the region as well as worldwide. The inevitable expansion of farmland in Colombia and other South American countries has led to rapid deforestation of the rainforests. This has decreased land available for native species of plants and animals as well as a loss in traditional farming space. Following the immediate cultivation of the coca

Emerging Technologies and Innovation

Question: Write an essay on the Cyber Crimes. Answer: 1. Introduction A Cybercrime can be defined as any crime that involves any digital equipment, a computing device to be very specific, irrespective of the fact that whether a computer system has been utilized for conducting the crime or a computer device (or a network) itself has become the victim of any criminal activity (Broadhurst et al. 2014). The principle objective of this paper is to provide in depth information about a proposed research work aimed at finding efficient methods for preventing cybercrimes. The report provides insight into the problem domain, along with the purpose and justification of conducting the research work. The research questions have also been defied in this paper, along with the research methods to be utilized in conducting the research work. Last but not least the estimated duration of the project along, with the work breakdown structure and the risk matrix of the project would also be mentioned in the report. 2. Rationale of the research 2.1 Problem domain Authors Broadhurst and Chang (2013) are opined that the number of cyber crimes reported in the last few years has forced information security experts to conduct serious research woks in the said domain: however, the authors firmly believe that the over dependency of the Government agencies and the business organizations on information technology tools is the primary reason behind the sudden rise in the number of cyber crimes. Researchers Gordon et al. (2014) are of the opinion that business organizations should consider and develop strategies so as avoid be being the victims of cyber crimes: hence they have emphasized on the strategies for the prevention of cybercrime, along with the use of digital forensic technologies for the identification of the sources of such crimes and the collection of evidences. Thus it can be said that the fact that several research works are currently being conducted in the field of cyber crime and prevention indicates the significance of the domain: hence conducting a research project on the said topic is justified. 2.2 Purpose and justification The aim of the proposed research work would be to unveil the reason behind the sudden rise in cyber crime activities in the last couple of years, such that efforts can be made towards the prevention of such incidents. The researchers would emphasize on the motivation with which the cyber criminals launch such attacks and the sophisticated tools and techniques which aid them in the successful conduction of cyber crime. Needless to say, the efforts made by the researchers would be directed towards finding efficient methods for reducing (or completely avoiding) cybercrime activities. 2.2.2 Objective of the research The objectives of the research project in consideration are being enlisted below: To conduct in depth survey of existing literary and scholarly articles so as pinpoint the motivation with which cyber crimes are being committed. To identify the reason behind the success of the intrusions that have been reported in the recent past, along with thousands of others that have not been detected. To identify the methods which can be utilized for avoiding cyber crimes in an efficient manner. 2.3 Sponsor/ Supervisor Recommendation The supervisor or the sponsor associated with the project need not recommend the project, as the project has already been approved by the University and is being conducted in accordance to the norms and regulations of the said authority. 2. 4 Justification of research work: It is expected that proposed research would be successful at revealing the factors that have influenced the sudden rise in the number of cyber crimes reported in the last few years, along with the identification of the strategies that would be helpful in changing the trend. The results of the research work would indeed help those business organizations and government offices that have experienced breaches in their secured computer networks. On the other hand, the finding of this project is expected to encourage further research work in the very same domain. Thus, the selection of the research domain is justified. 3. Research Question The proposed research work would be aimed at finding the solutions of the following research questions: What are the primary motivations of the cybercriminals behind intruding secured computer networks? Why is the success rate of cyber criminals so high and why do cyber crimes get undetected for long periods of time? What methods can be used for avoiding cyber crimes in an efficient manner? 4. Conceptual or theoretical frame work Figure: Conceptual Framework 5. Research Methodology 5.1 Research methods The researchers have decided to conduct an exploratory research work, using the post-positivism philosophy. Since the primary objective of the research work is to identify the methods that can be utilized in reducing the number of cyber crimes, the selection of the research methodology is justified (Robson McCartan, 2016). 5.2 Data collection Researchers Taylor, Bogdan and DeVault (2015) are of the opinion that the process of data collection facilitates the process of penetrating into the topic being researched on. Author Panneerselvam (2014) has seconded the opinion, besides differentiating all data sources into the following two classes: Primary sources of data: Raw data collected from individuals who are associated with the research domain are considered to be primary data (Blumberg, Cooper Schindler, 2014). The researchers would conduct interviews with IT security personnel and authorities of organizations that have experienced cyber crimes in the past so as collect data regarding such attacks. The researchers would also create questionnaires and post them in public forums so to collect data from other IT professionals willing to participate in the survey. Secondary sources of data: Information collected from the existing literary articles would be utilized in the research work. 5.3 Ethical issues The names and other personal identities of the IT professionals being interviewed would not be released in public. The information collected from the said professional would be utilized for research purpose only (Billig Waterman, 2014). The researchers would not influence the IT professionals in any manner whatsoever. 5.4 Compliance of requirements The research work has to abide by the following rules set up by the University: The researchers would not be able to publish any sensitive information collected during the research work in any public forum (Pickard, 2012). The researchers would not be able to interview any person having past records of conducting cyber crimes. 5.5 Analysis of data he information collected from the primary sources of data would be analyzed using the under-mentioned techniques: Quantitative analysis: The data collected from the secondary sources of data would be interpreted and analyzed using the following tools (Tuohy et al. 2013): descriptive statistics regression analysis Qualitative analysis: Qualitative analysis techniques would be utilize to collect the information available from the research papers and other existing literary articles (Salaberry Comajoan, 2013). 6. Project Plan 6.1 Deliverables The deliverables of the project under consideration are being mentioned in the following list: The project proposal document depicting the aims and objectives of the research study to be conducted, the rationale for selecting the said domain and the information collected during the background study. The estimated time, budget and other resources required to conduct the project successfully. The progress report of the project, submitted in regular intervals. Presentations documenting the significant findings of the research work. A well documented final project report describing the aims and objectives of the project work, the methods and techniques used in conducting the research work, the data collected during the process and information gained from the process of data analysis, along with the all findings of the research work. 6.2 Work Breakdown Structure The activities associated with the project have been identified in the following Work Breakdown Structure: Figure: Work Breakdown Structure of the project 6.3 Risk Analysis The risks associated with the project have been discussed in the table below: Table: Risks associated with the project Risk Domain Risk description Probability Severity Risk Score (P * S) Action for managing or avoiding risk Prior Commitments The group members might not be able to participate in the research activities due to any prior work commitment (Matthews Ross, 2014). 4 2 8 Minor changes might be included in the project schedule such that the project is completed within the time committed to the supervisor and/ or the sponsor Risk associated with the materials to be used in research The research materials required for conducting the project might not be available at the institute library (Anfara Jr Mertz, 2014). 4 3 12 The members of the project team should consult with the librarian regarding the research materials that would be required for conducting the research work, even before commencing the research wok, to check the availability of the said materials. Risk associated with the project group The members of the project group might not be comfortable working with each other. 3 5 15 The project team lead requires to conduct meetings with the other members so as to resolve such issues (Clark Creswell 2014). Risk associated with research methodology The selected methodology might not be appropriate for the research work being conducted (Lushey Munro 2014). 2 2 4 Consultation with the supervisor is necessary before finalizing the methods to be used. Technological risks The computing devices being used for the research work might malfunction (Miller et al. 2012). 5 4 20 Backups of research data need to be maintained. 6.4 Duration The estimated time duration required for the project has been provided in the table below: Table: Estimated duration of the project. Task Mode Outline Number Task Name Duration Start Finish Predecessors Auto Scheduled 0 Project on Cyber Crimes 120 days Mon 01-08-16 Fri 13-01-17 Auto Scheduled 1 Project starts 0 days Mon 01-08-16 Mon 01-08-16 Auto Scheduled 2 Selecting the project topic 13 days Mon 01-08-16 Wed 17-08-16 Auto Scheduled 2.1 Consideration of all the available project topics 2 days Mon 01-08-16 Tue 02-08-16 1 Auto Scheduled 2.2 Selecting two or more from the available topics 0.5 days Wed 03-08-16 Wed 03-08-16 3 Auto Scheduled 2.3 Conducting a brief background study of the topics 10 days Wed 03-08-16 Wed 17-08-16 4 Auto Scheduled 2.4 Selecting the topic of the project based on the information available from the background study 0.5 days Wed 17-08-16 Wed 17-08-16 5 Auto Scheduled 2.5 Topic of the project work finalized 0 days Wed 17-08-16 Wed 17-08-16 6 Auto Scheduled 3 Designing the project proposal 29 days Thu 18-08-16 Tue 27-09-16 Auto Scheduled 3.1 Considering the aims and objectives of the research work to be conducted 4 days Thu 18-08-16 Tue 23-08-16 7 Auto Scheduled 3.2 Conducting a brief survey of the existing literary works 5 days Wed 24-08-16 Tue 30-08-16 9 Auto Scheduled 3.3 Finalizing the research methods to be used in the project 7 days Wed 31-08-16 Thu 08-09-16 10 Auto Scheduled 3.4 Estimating the time, budget and other resources required for conducting the project 5 days Fri 09-09-16 Thu 15-09-16 11 Auto Scheduled 3.5 Documenting the project proposal 7 days Fri 16-09-16 Mon 26-09-16 12 Auto Scheduled 3.6 Submitting the project proposal 0.5 days Tue 27-09-16 Tue 27-09-16 13 Auto Scheduled 3.7 Approval of project 0.5 days Tue 27-09-16 Tue 27-09-16 14 Auto Scheduled 3.8 Project Approved 0 days Tue 27-09-16 Tue 27-09-16 15 Auto Scheduled 4 Conducting the research work 52 days Wed 28-09-16 Thu 08-12-16 Auto Scheduled 4.1 Conducting an in depth literature review 15 days Wed 28-09-16 Tue 18-10-16 16 Auto Scheduled 4.2 Data collection 15 days Wed 19-10-16 Tue 08-11-16 Auto Scheduled 4.2.1 Conducting the primary data collection process 10 days Wed 19-10-16 Tue 01-11-16 18 Auto Scheduled 4.2.2 Conducting the secondary data collection process 15 days Wed 19-10-16 Tue 08-11-16 18 Auto Scheduled 4.3 Analyzing and Interpreting the data collected 15 days Wed 09-11-16 Tue 29-11-16 Auto Scheduled 4.3.1 Conducting the qualitative data analysis process 10 days Wed 09-11-16 Tue 22-11-16 21,20 Auto Scheduled 4.3.2 Conducting the quantitative data analysis process 15 days Wed 09-11-16 Tue 29-11-16 20,21 Auto Scheduled 4.4 Arriving at a conclusion 7 days Wed 30-11-16 Thu 08-12-16 24,23 Auto Scheduled 5 Documenting the findings of the research work 26 days Fri 09-12-16 Fri 13-01-17 Auto Scheduled 5.1 Presenting the significant findings of the research work to the Sponsor/ Supervisor 3 days Fri 09-12-16 Tue 13-12-16 25 Auto Scheduled 5.2 Project results approved 1 day Wed 14-12-16 Wed 14-12-16 27 Auto Scheduled 5.3 Documenting the final project report 20 days Thu 15-12-16 Wed 11-01-17 28 Auto Scheduled 5.4 Submitting the project report 2 days Thu 12-01-17 Fri 13-01-17 29 Auto Scheduled 6 Project ends 0 days Fri 13-01-17 Fri 13-01-17 30 7. Bibliography Anfara Jr, V. A., Mertz, N. T. (Eds.). (2014).Theoretical frameworks in qualitative research. Sage Publications. Billig, S. H., Waterman, A. S. (Eds.). (2014).Studying service-learning: Innovations in education research methodology. Routledge. Blumberg, B. F., Cooper, D. R., Schindler, P. S. (2014).Business research methods. McGraw-hill education. Broadhurst, R., Chang, L. Y. (2013). Cybercrime in Asia: trends and challenges. InHandbook of Asian criminology(pp. 49-63). Springer New York. Broadhurst, R., Grabosky, P., Alazab, M., Bouhours, B., Chon, S. (2014). An Analysis of the Nature of Groups Engaged in Cyber Crime.An Analysis of the Nature of Groups engaged in Cyber Crime, International Journal of Cyber Criminology,8(1), 1-20. Clark, V. L. P., Creswell, J. W. (2014).Understanding research: A consumer's guide. Pearson Higher Ed. Gordon, G. R., Hosmer, C. D., Siedsma, C., Rebovich, D. (2014). Assessing technology, methods, and information for committing and combating cyber crime. Lushey, C. J., Munro, E. R. (2014). Participatory peer research methodology: An effective method for obtaining young peoples perspectives on transitions from care to adulthood?.Qualitative Social Work, 1473325014559282. 2.2 Purpose and justification

Tuesday, May 5, 2020

Real Business Operating in Sydney in 2016-Free-Samples for Students

Question: Discuss about the Real Business Operating in Sydney in 2016. Answer: Introduction A Business plan is a roadmap providing with direction to a business plan in order to match with the future expectations. The purpose is to make a thorough business plan by keeping an individual up - to-date with the long-term sustainability. Business plan need to be in accuracy with the guidelines regarding content and form. Each element in the business plan should be addressed in order to meet the desired results. Background The business plan is regarding an Asian Cuisines food chain restaurant in Sydney. The Australian hospitality industry is marked up as a complete game changer. The restaurant industry is growing at a fast pace creating advance opportunity. Changing social trends has developed vast opportunities for the Restaurant industry in the past 5 years. The industry is expected to post annualize a growth of 5.6 percent over the period of 5 years. Busier lifestyle and diminishing leisure time have allowed consumers to avoid time on preparing food. These trends are expected to grow in near future. Growing consumer demand for quality food and dining has fuelled the expectations of the food industry. There are end numbers of things that are required to be considered when starting a food business in Sydney. For instance the business needs to be subjected to both Australian and NSW law. It is essential to attain proper licence before commencing a business. The restaurant industry is gaining pace in th e recent time will help it to grow multi-folded (Industry Survey: How Much Does it Cost to Open a Restaurant? 2017). Sydney is a business hub and includes people with multiple backgrounds. By opening a food restaurant with economic price, consumers can connect themselves. This will separate the restaurant from the other competitor in the market. By keeping a cost efficient menu, the restaurant chain can gain a competitive advantage over the other local food joints. The restaurant majorly focuses over the quality of food which will be managed by a proactive team headed by the famous chef. The USP of the restaurant is its location. The food joint is centrally located and mostly crowded. For a month the restaurant will work on a pilot plan in order to estimate the prices. The restaurant is expected to work thoroughly after the completion of the pilot project (Helmrich, 2015). Market analysis The Cost of living in Australia is 12.49% higher than in United States (collective data for all cities excluding rent). Rent in Australia is 7.84% higher than in USA. The food and restaurant industry is growing at a fast pace. A shift in the lifestyle of people has developed various opportunities for the food joints to expand their business. An economic development in the state is one of the primary reasons for multi-fold growth in the sector creating employment opportunities. Changing social trends has developed vast opportunities for the Restaurant industry in the past 5 years. The industry is expected to post annualize a growth of 5.6 percent over the period of 5 years. Australia's visitor economy is estimated as $113 billion industry. It has employed one million people and supporting 267,000 businesses transversely metropolitan and regional Australia. This sector has contributed as the largest sector to meet the visitor economy. The employment growth is much higher than the other sector creating regular as well as temporary jobs. The four fastest Trends seen in Australia are: Healthy Eating, Seafood, and Modern Australian Cuisine Asian Cuisines (IBISWorld.2017). Competitive analysis The purpose of the competitive analysis is to determine the strength and weakness of the competitor within the market. These strategies will provide with a distinct advantage. A business can analyse and prevent the barriers to the business. In order to understand the strength and weakness of Restaurant industry in Sydney, Australia it is important to divide the risk associated with it. PESTLE analysis is used to understand the external environment in Sydney (Barringer, 2012). This will help in attaining high level of understanding related to restaurant business. There are end numbers of things that are required to be considered when starting a food business in Sydney. It is not simple to start a business without a proper blue print. For the purpose an external environment analysis is an important tool used by people in order to develop a better understanding (Restaurant catering. 2016). Pestle Analysis Political factors: The government in Australia is reliable, transparent, fair and internationally competitive. This provides investors with a safe and protected business structure. Sydney is a business hub creating ample of opportunities for business. This creates a sense of security in the investors regarding their investments. Commonwealth wealth government works as a supportive system for the local investors protecting their long term interest. A strong political system is supported with growth and sustainability (Zimmerer, Scarborough and Wilson, 2005). Economic factors: Australia is an enviable, strong economy with a per capita GDP on par with the dominant West European economies. The local economy is seemed confident and the purchasing power is high. The COL in Australia is 12.49% higher than in United States. Socio-Cultural factors: The way of communication of Australians is very direct. Changing social trends has developed vast opportunities for the Restaurant industry in the past 5 years. The industry is expected to post annualize a growth of 5.6 percent over the period of 5 years. The standard of living in Australia is very high creating ample of opportunities for the local and international food joint. Moreover in the recent time shift in the lifestyle of people has developed a range of opportunities for the food joints to expand their business. An economic development in the state is one of the primary reasons for multi-fold growth in the sector creating employment opportunities. The multicultural environment in Australia has a great influence on the Australian food culture which include Asian food (McKeever, 2016) Technological Factors: Australia is a developed economy with a high end technology and development. It has a combination of world-class information and communications technology in all the sectors providing with an excellent environment for investors. Sydney has a high end infrastructure with effective information and communications technology and the ability of businesses and consumers to use it (Khan, 2014). Legal factors: In order to establish a food joint it is important to follow the law and order. There are end numbers of things that are required to be considered when starting a food business in Sydney. For instance the business needs to be subjected to both Australian and NSW law. It is essential to attain proper licence before commencing a business. This will help in coordinating the business opportunities in a significant way. There is an ample of support from the local government that is creating majority of support for the business organization. In order to grow in a multi-fold way, it is important to emphasize on the legal environment (Heizer, 2016). Environmental factors: Environment is given special attention by the common wealth government in order to create effectiveness. The climatic change and environmental disparities growing in the recent time is been given proper attention by the government bodies. It includes proper licensing and compliance with the Environmental law as established (Nykiel, 2016). Operations and Management In order to start a business venture it is important to judge various strengths and weakness attached with it. The business plan helps in managing the operational activities. This help in gaining the long term sustainability in order to gain results. This will help in analysing the opportunities growing in the field. Majority of decision regarding the business plan s are important in developing aspects. This sector has contributed as the largest sector to meet the visitor economy. The employment growth is much higher than the other sector creating regular as well as temporary jobs (Hiduke and Ryan, 2013). An assessment regarding the strengths and weakness help in managing the distinct objectives. In order to gain long term sustainability it is vital to organize a systematic business plan. The implementation of an effective business plan will allow in gaining longevity. Business will be able to gain results within a definite time-period (Spender, 2014). To gain a competitive advantage in business it is important to draw an effective procedure for business management. The basic purpose of designing an effective plan and procedure is to gain sustainable results. For a restaurant industry it is evident to understand taste of the local people. In order to carry out functions properly it is important to develop operations and management component of plan. This will ensure in gaining business functions on a continuing basis. The restaurant business operations plan highlights the logistics of the organization. The responsibilities and functions pertaining to the business need to be divided in an effective way. For the purpose, it is the responsibility of the management team to assign task to each division within the organization. Majority of duties are already been delegated to the subordinates. Decisions regarding the capital and expense supplies depend upon the success of the pilot run (Peteraf, Gamble and Thompson, 2014). Financial Components After defining the service in the market and operations, the next step is to define the attention towards the financial statements. It is relevant to understand the financial requirements because they form the backbone of the business plan. In order to gain longevity it is important to access the income statement, cash flow statement, and balance sheet. In the business plan, it is important to create an analysis for the income statement just to understand the financial needs. The analysis of the balance sheet will cover the entire financial statements in order to make desirable conclusion (Alhabeeb, 2014). Positive and Negative of Business plan Positive points In order to understand the longevity of the business it is most essential to understand the growth plan of the business. It is evident from the current planning and management of business procedure that the Australian consumer market is growing at a fast pace. Sydney has lots of opportunities for the restaurant industry. The multicultural business environment in Sydney will be an added advantage in order to attain systematic growth. Growing consumer demand for quality food and dining will allow in gaining strength. There are end numbers of things that are required to be considered when starting a food business in Sydney (Lambrou, 2016). Negative points Being a business hub, Sydney already has many local and international food joints. These food joints can cause excess competition to the business. In such a situation it is recommended to come up with an effective business plan. It is further important to maintain the food quality due to stringent legal food related rules and procedures. The local, long established food joints can cause competition to the business. While reviewing a business plan it is important to understand the external factors. An over focus on the multi-factors operational cost will affect the business. While designing the business plan, it is important to keep a plan B in case of failure of Plan A. In this way one can gain long-term competitive advantage to be in the race (Wong et al 2016). Conclusions It is recommended that the business organization need to focus on each and every component of the business plan. While addressing the issues, it is important to focus equally on both the operational and financial factors. By managing the business in a systematic manner, the organization can gain sustainable objectives. The Australian food industry is growing at a fast pace. This sector has contributed as the largest sector to meet the visitor economy. The employment growth is much higher than the other sector creating regular as well as temporary jobs. Asian food is much liked in Sydney due to variance in taste. In order to gain competitive advantage against the established food joint it is suggested to well incorporate the business functions. It is important to review the business plan in order to understand the shifting paradigm in the food industry. Reference list Alhabeeb, M.J., 2014.Entrepreneurial finance: fundamentals of financial planning and management for small business. John Wiley Sons. Barringer, B., 2012. Entrepreneurship: Successfully Launching New Ventures, (2012). Heizer, J., 2016.Operations Management, 11/e. Pearson Education India. Helmrich, B.2015. Ten things to do before opening a restaurant. Online. Available at: https://www.news.com.au/finance/small-business/ten-things-to-do-before-opening-a-restaurant/news-story/609bd2759685553e3020de79164acc3e Accessed on: 13 August 2017 Hiduke, G. and Ryan, J.D., 2013.Small business: an entrepreneur's business plan. Cengage Learning. IBISWorld.2017.Restaurants in Australia. Online. Available at: https://www.ibisworld.com.au/industry-trends/market-research-reports/accommodation-food-services/restaurants.html Accessed on: 13 August 2017 Industry Survey: How Much Does it Cost to Open a Restaurant? 2017. Online. Available at: https://www.restaurantowner.com/public/How-Much-Does-it-Cost-to-Open-a-Restaurant.cfm Accessed on: 13 August 2017 Khan, M.A., 2014.Restaurant franchising: Concepts, regulations and practices. CRC Press. Lambrou, L., 2016. Cooking and the Books: A Guide to Restaurant Accounting. McKeever, M., 2016.How to write a business plan. Nolo. Nykiel, R.A., 2016.Marketing Your Business-A Guide to Developing a Strategic Marketing Plan. Peteraf, M., Gamble, J. and Thompson Jr, A., 2014.Essentials of strategic management: The quest for competitive advantage. McGraw-Hill Education. Restaurant catering . 2016. Federal Budget 2016-17. Online. Available at: https://www.treasury.gov.au/~/media/Treasury/Consultations%20and%20Reviews/Consultations/2015/2016%20Pre%20Budget%20submissions/Submissions/PDF/Restaurant%20and%20Catering%20Australia.ashx Accessed on: 13 August 2017 Spender, J.C., 2014.Business strategy: Managing uncertainty, opportunity, and enterprise. OUP Oxford. Wong, A., Anderson, K.J., Ang, I. and McNeill, D., 2016.Sydneys Chinatown in the Asian Century: From ethnic enclave to global hub. Zimmerer, T.W., Scarborough, N.M. and Wilson, D., 2005.Essentials of entrepreneurship and small business management. Pearson/Prentice Hall.