World Luxury Goods Industry Essay Example for Free

World Luxury Goods Industry Essay Luxury goods have more than the ordinary and necessary characteristics compared to other products of their category. Their characteristics can be divided into 6 parts Symbolism, Price, Extraordinariness, Rarity, Aesthetics and Quality. The global market size for the industry has been at a growth rate of 9% per annum. This trend has been seen in the market since 1995 till 2000. The luxury market took a hit from 2000 to 2004 when incidents like the September 11 and SARS epidemic took place during those years. The market was at a standstill till 2005 when it caught pace again until the subprime financial crisis. Recent years the growth rate has been at 11% average and this has been happening since 2009. At 2013 the market is sized at Euro 212 billion and has great potential going forward. The 10 % growth estimated for the market in 2013 represents the fourth straight year following the great recession that luxury goods revenues will grow annually by double-digits. Americas region is also projected to benefit from the market, with revenues growing by 13 percent by year’s end and Asia-Pacific sales particularly driven by China India are projected to grow by 18 percent. Growth in Europe is expected to be at 5 percent this year showing that the economic trends in these areas have affected the market for luxury goods. It is estimated that the luxury goods market will grow, in real terms by 4-6% per year between 2013-2015 increasing the market to between â‚ ¬240 and â‚ ¬250 billion by 2015. There has been a shift towards online sales in this segment with this medium continuing to grow faster than the rest of the market, at 28% annual growth for the year and reaching close to 10b Euros, nearly 5% of total luxury sales which larger than the luxury revenues of Germany. In online sales, shoes are the top-performing category. This level of online penetration is when brands have to treat their online channel as a integral part of their competitive strategy, rather than an an extra source of revenue. When we see the different products types in the industry it is seen that the Accessories highlights the best performance over the period 2007-2011 led by the emerging markets customers preferences with respect to luxury accessories. We see a shift in the market trend in apparels where the mens luxury sales increased by 16% in 2011 surpassing sales to woman. Mens luxury goods in 2011 accounted for 40% of the global luxury market up from 35 % in 1995. As you can see in figure above that the accessories and hard luxury goods have seen an increase in segment. In the luxury goods market the Italian brands have increased to gain the largest market share of luxury sales, moving from 21% in 1995 to 24% in 2013 almost equalling French brands market share of 25%. But in a consolidating market, French conglomerates are a driving force, owning 29% of the market compared to 25% in 1995. Key Figures Category Revenues Growth Forecast. 2012 (est) 2012 Leather Goods â‚ ¬33bn 16% Shoes â‚ ¬12 bn 13% Men’s Apparel â‚ ¬26 bn 10% Women’s Apparel â‚ ¬27 bn 9% Fragrances â‚ ¬20 bn 4% Cosmetics â‚ ¬23 bn 5% Jewelry â‚ ¬11 bn 13% Watches â‚ ¬35 bn 14% Total â‚ ¬212bn 10% The different players in this market are different for different product types like in the luxury watches segment it is Rolex, Omega etc, mens and womens apparels segment it is Armani, Burberry etc and leather goods segment it is LVMH, Ralph Lauren etc. Similarly many more in other segments and below are the different luxury goods brand with LVMH leading in revenue terms. Porter’s 5 forces model. THREAT OF NEW ENTRANT: Capital Requirement: The capital requirements for manufacturing, setting up stores and maintaining them are all very high. The break-even for these brands is very high. Their marketing and management costs such as rent, high salaries for craftsmen, heavy promotional activities etc. are very high too. A study indicated that they need to have 400 stores to develop a truly global presence. Brand Loyalty: The brand image associated with luxury brands and the loyalty created through CRM programs and exceptional service levels is very high for existing brands in the market space. However, the industry has been experiencing declining brand loyalty in emerging markets since their purchases are driven by status and show off motives and hence brand switching between brands perceived to have similar status is increasing. Nevertheless it takes considerable amount of time and expenditure to build its brand loyalty. Scale economies: It has been observed that consolidation of brands in the luxury market help in achieving higher economies of scale. Consolidation helps in increasing bargaining power with suppliers, obtaining operating synergies say in advertising etc., better financing options and risk management through diversification in the brand portfolio of the companies. LVMH, PPR (Gucci), Prada Group, Richemont have all undergone consolidation. Exclusive access to suppliers and distributors: Many brands in this segment have acquired their suppliers or have exclusive arrangements to protect their competitive advantage and insulate against rising costs in future. Also the numbers of distribution points are increasing as emerging markets are growing and luxury malls are coming up. For instance, LVMH acquired Leman Cadran and ArteCad SA- watch dial manufacturers and Delos Bottier, French artisan shoemaker. Retaliation from existing Cos- The powerful established brands tend to retaliate against the smaller and newer brands by say preventing them from having access to multi-brand retailers. Therefore we see that the threat of new entrant is high. THREAT OF SUBSTITUTES: Middle price brands: The growing mid ranged, high street brands pose as a possible substitute to the luxury brands. During economic crisis consumers tend to â€Å"trade down. † Counterfeit goods: The manufacturing and sales of counterfeit goods from Countries like China is growing. Quality design: increased internet accessibility and online shopping has made is easy for fast fashion brands to replicate designs and fashion trends of luxury brands within days/weeks of the fashion shows. There are no monetary switching costs to customers. However, there is a loss of prestige which is important to luxury brand buyers. Therefore the threat of substitutes is moderate. BUYER’S BARGAINING POWER: Decreasing buyer concentration: The number of buyers relative to suppliers is increasing. Only 50% of the 1. 6 MN wealthy were as rich 4 years ago. Level of dependency on buyer: The industry is heavily dependent on top-tier customers, mostly on a small super affluent population. Celebrities etc. being early adopters can drive consumption but single buyers cannot determine prices. Switching costs: There are emotional switching costs involved. With introduction of loyalty programs and associated privileges, the switching costs have increased. Possibility of backward integration by customers is very low. So on the whole, the bargaining power of buyers is low. SUPPLIER’S BARGAINING POWER: Number of suppliers: The raw materials are limited and exclusive. There are limited high skilled workers and there is also growing shortage since not many youngsters are willing to learn. For instance, Couture-level embroiderers in France have dropped from 10000 in 1920 to 200 in 2013. Level of Dependency: Some key components and materials are outsourced. For eg: LV outsources its monogram leather, in 2012, Chanel ordered large chuck of leather from a supplier in case they wouldn’t find more. Supply substitutes: Most materials are highly specialized and difficult to substitute. Switching costs to new suppliers are high since the quality is at risk and there is a past coordinating experience which is important. Forward integration possibility is very low since the luxury groups are much more experienced and wealthier than their suppliers. Thus, the bargaining power of suppliers is moderate to high. COMPETITIVE RIVALRY: Competitive structure: The industry has an oligopoly structure since it is dominated by few large independent players. LVMH, Richemont and PPR Gucci are the big three. Demand conditions: The demand is growing and will grow at a relatively high pace as China and Hong Kong markets grow further. Exit Barriers: Some brand exist despite the fact that they do not make any/much profits due to emotional reasons. For instance, Christian Lacroix hasn’t made any profit in 22 years. There are some highly specialised supply chain components that may be very difficult to sell. Chanel has 6 atelier d’arts under it which has no alternative usage. The rivalry among existing competition is high. Luxury Goods-Developed Countries Overview. There is so much talk about China, Brazil and other emerging markets as the future of luxury market while there is some truth to it we cannot ignore the developed markets. The current growth and hot spot for luxury goods is still in the developed countries. American region is the king of luxury spending; it grew at 4% in 2013 compared to 2012. There has been growth in the number of new store opening in tire two cities in these developed countries going to show that companies see potential in the smaller region and there is increase of disposable income in the smaller cities. Visitors from developing countries still prefer to buy luxury goods from the developed countries; this has also led to an increase in the demand of luxury goods in the developed countries. According to Luxury Goods Worldwide Market Study Spring 2013 there are significant regional differences in the luxury market developed countries and all of them have their unique differences. Some of them are: Europe will see 2% growth in the luxury spending in the next few years, with increasing spending by tourists even though there is lower spending by European nationals. Tourist spending is driving half of revenues in Italy, 55% of revenues in the U. K. , and 60% of revenues in France. Japan has experience a decline in luxury spending by 12%. Although in real terms, the consumption has increased as the country has emerged out of stagflation. The Middle East continues to be relatively strong, with a 5% growth. The demand for Luxury goods remain strong in Dubai, while Saudi Arabia is also gaining share to become the region’s second largest luxury market. As these countries are oil rich they like the flamboyance and luxury. Online sales, of Luxury goods have gained popularity in the last few years in the developed countries. They are growing faster than the brick and mortar stores, turning in 28% annual growth for last year and reaching close to 10 billion Euros. In online sales, shoes are the top-performing category. With online penetration high, brands should treat their online channel as an integral part of their overall channel strategy, rather than an just an another source of additional revenue. According to the â€Å"Luxury Goods Worldwide Market Study† finds accessories, including leather goods and shoes, have definitively become the largest segment, growing 4% for 2013 to reach 28% of the total revenues. Apparel is now a quarter of the market, growing at 1%, Apparel was very popular couple of years ago. Perfumes and cosmetics had a 2% growth in 2013. Luxury cars, wine and spirits, hotels, in-home and out-of-home food, home furnishings, and yachts all show growth, with luxury cars, wine and spirits, and hotels outpacing personal luxury goods and leading to an overall 2013 market of â‚ ¬800 billion of affluent spending, up 6% over 2012.compared to 25% in 1995. The luxury goods market in the developed countries is becoming very complex and in some areas is starting to look like the fast-moving consumer goods Industry. Brands have to adapt themselves by bringing in the level of detailed customer insight to standout of the clutter. While this Industry is still showing steady but not extravagant growth, brands need to adjust to a new set of scientific tools in order to keep up with other markets. CAGE Framework for Developed Countries Cultural Luxury Goods Industry in Developed countries over the years have matured and have formed definite distribution channels where most of the time they try cross selling to their existing buyers. However new customers enter the market, they account to an addition of 1%-3% of the total population involved in the luxury goods instry In Developed countries Culture is often considered with income level to follow a trend related to luxury goods. Considering a people with zero income level when shifts to a income level and wants to buy a luxury good his decision is dependent upon the income he is currently earning and the culture he is following in the ratio of 3:2. Administrative Initially as taxes were collected in the form of luxury tax from the customers in developed countries, they were indifferent to it as they had a considerable large amount of disposable income. Over the years as people entered the luxury market they got affected by such high rates. The government how of such countries depend on these taxes as they generate a large amount of revenue. Geographical Most of the developed countries are the manufactures of these luxury goods they tend to be cheaper in these countries. As the demand of the countries is very high they tend to acquire the fixed costs at an early stage, later just trying to recover the variable cost making it cheaper. Most of these developed countries have access to superior products used in manufacturing these products thus making the end products to be easily manufactured and thus slashing the rates, thus inducing more customers to buy the product Economic Differences GDP and per capita income of the developed countries is high compared to other emerging countries. Thus showing they have a higher disposable income and standard of living is high proving that they can afford luxury goods as their basic necessities of life is fulfilled. Luxury Goods-Developing Countries Overview. When we talk about developing economies we will be taking into account Brazil China and look at the luxury goods market in these two economies. Almost half of the luxury goods produced worldwide are sold in the emerging markets with China leading the way. The luxury goods market has seen tremendous growth in China whereas the same growth hasn’t been replicated in India Brazil because of some regulatory issues (high import duties). Looking at China, the GDP has been growing at almost 10% y-o-y which has been increasing the denomination of wealthy Chinese in the country. When you look at the Luxury market, the Asia-pacific region has been the best performer with a growth rate of 25% in 2011 and accounting for about 29% of the worldwide revenues. The growth of this market in China has been tremendous which can also be put down to the fact that many e-commerce players have come in to fray which give the digital consumers a chance to make use of the price advantage. The market has been helped by the fact that there has been a shift in the mentality of the Chinese people wherein they want the real stuff now rather than settling for the counterfeited goods. In addition to this due to the weakening Euro and the increase in the number of upper class citizens the Chinese people have been undertaking more and more overseas trips which in turn has increased the revenues for the Luxury market. Now coming to Brazil, the luxury goods market was about 2. 7 billion dollars in 2012, and the expected growth rate was estimated to be about 15-25% for the next five years which was put down to the fact that it has become the 7th largest economy in the world the purchasing power and the income rate for an average Brazilian is growing. Brazil now has 36 billionaires 165,000 millionaires out of which about 50% are below the age of 35, which will help boost the luxury goods market in the country. Now because of the unique services that are being provided to the consumers in Brazil, also the payment plan by installments and also the fact that a huge number of showrooms are being opened in the country the consumers are willing to buy the luxury goods for which they had to go abroad in the earlier days. STRATEGY – STRUCTURE PERFORMANCE STRATEGY: Strategic approach to product offer and price positioning. Focusing on the E-commerce platform as well in order to cater to the increasing number of digital consumers Opening up of new stores and availability of quality products easily. Focus on the retail chains in order to aid the distribution as this is the highest grossing medium (Omni-channel Retailing). Increase of scale in order to improve margins. Shift towards the accessories sector as this has the highest growth rate amongst the Luxury goods market. Store experience. Real time communication between the brand and the consumer via blogs communities. Off-price outlets. Consolidation. Diversification. STRUCTURE: Oligopoly: Very few luxury groups dominate the market. Large number of small individual brands. Individual brands being introduced by the large market players. Big Three LVMH Richemont PPR Gucci PERFORMANCE: A CAGR of +25% in China for the luxury goods revenues over the period 2008-11. A CAGR of +18. 3% in China for E-commerce buys during the period 2007-10. 31% increase in constant value terms for Brazil, 72% for China 86% for India over the period 2008-13.

Do You Have What It Takes? A Breakdown Of The Educated Person Essay

Do You Have What it Takes? A Breakdown of the Educated Person An educated person is a well rounded person. To be educated is to knowledgeable in many areas. Diversity is essential in the sense that many different things inspire thought, which then derive permanent conclusions from these experiences. Anyone who has the audacity to call themselves educated needs to have a firm grasp of many different areas. These categories span through Science, Technology, Language, Art, Feelings and Values. All of these are building blocks that help make up an educated person, but just as important, these are the same qualities that form an individual. One of the most important concepts that a person learns from Science is a fundamental thinking process. This process starts with curiosity, asking the question," Why does that work?" It then moves on to theorizing or guessing. Next, this person takes his or her theory and puts it to the test by conducting various experiments. Finally this individual will draw a final conclusion from those findings. Science also helps a person look at things objectively, which means there is no feelings influencing experiments that can lead to fraudulent conclusions. This can be a double edged sword however, because in many instances when a scientist is emotionally removed from the experiments performed, the question, "Should I?", is never asked. For instance under the reign of Hitler many cruel medical experiments were preformed. In The Medical Experiments by William Shirer the author states,"Prisoners were placed in high pressure chambers and subjected to high-altitude tests until they ceased breathing. They were injected with lethal doses of typhus and jaundice. They were subjected to 'freezing' experiments in icy water or exposed naked in the snow outdoors until they froze to death." This also deals with the subject of values and will be discussed detail later. Probably the most positive way to utilize Science would be to take it to the next level, Technology. This is were an educated person takes what laws and theories he learns in science and integrates them into everyday life, finding ways to make life easier and arguably better. I say arguably because many educated people are against technological advancement. These... ...m any language. Susanne K. Langer in her article The Cultural Importance of Art states,"There is, however, an important part of reality that is quite inaccessible to the formative influence of language: that is the realm of so-called "inner experience," the life of feeling and emotion. All of these attributes lose power without an individual set of values to focus this energy. Adolf Hitler influenced millions by being a masterful orator. Hitler also was very innovative in science and many other areas. However do to his grossly warped sense of personal values he was labelled by leaders and peers as a madman. It is very difficult for any person to be a master of all of these categories, but to be truly educated, there needs to be at least a small concentration of everything in that individual's background. For the one reason that it is so difficult to posses all of these traits, it is also that same reason that makes all of the truly educated people of our past stand out in history as heros and leaders. This is also the biggest reason that so many people admire them and strive to be like them.

Destiny and Henley Essay

â€Å"Invictus† was written by Henley when he was in the hospital with tuberculosis. While in his twenties he contracted a tubercular infection that led to his leg being amputated below the knee. Later he developed the same infection in his other leg and was told it would have to be removed as well. Henley refused to have it amputated and sought the help of a doctor who had developed antiseptic medicine. Twenty months later Henley had finally recovered and was able to leave the hospital. It was during this dark time in his life when he wrote â€Å"Invictus†. When you read the poem you can see how passionate he felt: â€Å"I thank whatever gods may be / For my unconquerable soul†(Henley). Instead of falling into despair, Henley was able to be thankful that, though his body was beaten, his soul wasn’t. Even in the highest of his horrible circumstances, Henley refused to let life defeat him, but instead he rose up and fought back: â€Å"In the fell clutch of circumstance / I have not winced nor cried aloud† (Henley). He did not waste his time despairing over what he had lost, but instead focused on getting better. You can also see how desperately determined he was: â€Å"I am the master of my fate / I am the captain of my soul† (Henley). He refused to give into the idea that someone else was in control of his life. In the poem he cites â€Å"the bludgeonings of chance,† which shows he felt it was simply fate that this happened to him, and yet he went on to defiantly state that he was in control of his own destiny (Henley). By looking closely at â€Å"Invictus†, you can clearly see the struggles that Henley went through in his own life. The powerful tone in â€Å"Invictus† is gloomy and dark although Henley remains optimistic and with the help of the three types of figurative language the dark tone is constantly seen throughout the poem helping readers truly feel the misery the author is going through . Invictus could be taken as a hopeful poem for those suffering, constantly being reminded that you are the â€Å"Captain of your soul† and that it is you choosing to live in pain or be brave when facing a challenge. â€Å"Beyond this place of wrath and tears† refers that the writer has hope for the after life. Finds, and shall find, me unafraid† refers to the fearlessness of the writer â€Å"My head is bloody, but unbowed. † refers to his courage to fight. The use of imagery in â€Å"Invictus† provides readers with deeper sense of the poem and connects them to the author’s true feelings. Henley uses strong relevant adjectives to paint a picture of the horrors of misery he feels in the beginning and towards the end of the poem he allows readers to grasp that it was his bravery that helped him overcome the impossible. The theme of â€Å"Invictus†is one that appeals to most people. It is the idea that you control your fate more than anyone else ever will. In a world that cares nothing for us and often seems to be trying to destroy us, we can overcome all odds and be victorious because we, and we alone, are masters of our own fate. This is proven through the circumstances that the poem was written under. Instead of submitting to the original prognosis of the doctors and having his other leg removed, Henley chose to take charge of his life, find a new doctor, and ultimately change the course of his life (Invictus: A Study Guide). The theme is one of triumph and survival. Despite all odds, despite all expectations, Henley took control of his destiny and came out victorious. The fact that Henley wrote this during a dark time in his life added a wealth of emotion to the poem; he was writing from his heart and it was obvious. The overarching theme of the poem is relevant to everyone because when it comes down to it, we all want to feel like our life actually has meaning and is not just a sum of chance circumstances and happenings. The use of imagery in â€Å"Invictus† provides readers with deeper sense of the poem and connects them to the author’s true feelings. Henley uses strong relevant adjectives to paint a picture of the horrors of misery he feels in the beginning and towards the end of the poem he allows readers to grasp that it was his bravery that helped him overcome the impossible.

Things Fall Apart - White Missionaries Caused Umofia to...

Things Fall Apart - White Missionaries Caused Umofia to Fall Apart Faith has always been a guiding force in mans life. Chinua Achebes novel Things Fall Apart is a story that describes the effects of a new Christian religion in a tribal village of Africa. The tribe has their own language, known as Obi, a dignified culture and a value system that has continued for many years as they trace back into their ancestry. Yet, voids that this culture can no longer fill for modern tribesmen enable white missionaries to intrude upon this system and convert many of the tribes younger members to the Christian faith. The tribal system falls apart because younger members are unable to remember†¦show more content†¦Unfortunately, this was not the feeling shared by many in the clan and Okonkwo, in trying to make-up for his fathers mistakes, took on the responsibilities of an old man as a young boy and had the mind set of an elder in the community because as was stated, those were the people he ate his meals with and held his discussions with. Okonkwos own son, Nwoye, did not have the same work ethic and was not working to prove his manhood to the rest of the village. Therefore, for Okonkwo to expect hard work ethics of his son by instinct was unrealistic, because Okonkwos work ethic was certainly not a genetic result either. This work ethic however is a central value of the community and when younger members of the generation do not feel as though they are responsible for the tribes continued existence then they may not feel as though an active participation in village life is necessary. On the other hand, perhaps Okonkwos work ethic was much stronger than the normal that is necessary for the tribe to continue to flourish and he beats Nwoye forgiving only the minimum amount of work expected of him. Perhaps it is the feeling of failure that turns a member of the tribe like Nwoye to Christianity. Perhaps he felt that he would be an inadequate member and would be unable meet the standardsShow MoreRelated Things Fall Apart 4 Essay985 Words   |  4 Pages Things Fall Apart nbsp;nbsp;nbsp;nbsp;nbsp;Chinua Achebes Things Fall Apart describes the flaws and struggles of one proud mans tragic life. The main character Okonkwo is a strong and proud warrior with great reputation in the village of Umofia. However, he is a man that struggles with the fear of failure and uncontrollable anger. Okonkwos motivations, ways of acting and behavior in crisis prevent him from achieving what he wants, leading to his self-destruction. nbsp;nbsp;nbsp;nbsp;nbsp;OkonkwoRead MoreEuropean Interaction Through The Eyes Of Okonkwo1128 Words   |  5 Pagesclans member to the clan of Umofia. Through the acts of European expansion, Okonkwo and many like him felt the influence of colonization. â€Å"Things Fall Apart† by Chinua Achebe tells the account of Okonkwo’s life and the beginning of European expansion into Africa. This paper will explain the story of Okonkwo’s interactions with Europeans, and how they affected the African people. In the beginning of the book Chinua sets up the story by explaining about the tribe of Umofia, and the people who live thereRead MoreSocial Changes in Things Fall Apart by Chinua Achebe Essay1140 Words   |  5 PagesSocial Changes in Things Fall Apart by Chinua Achebe In the book Things Fall Apart, by Chinua Achebe, we are able to read about the social changes the white missionaries had on an African tribe. Mr. Achebe describes the way of life before the missionaries arrived and then records some of the changes, which occurred due to the changed belief system introduced by these missionaries. Soon after the missionaries began to teach the tribal people about the Christian faith, their tribal customsRead MoreThings Fall Apart910 Words   |  4 Pagesï » ¿Okonkwo Things Fall Apart by Chinua Achebe is a novel about a man in West Africa. It tells about his triumphs and trial ultimately leading to his demise. It explains how the â€Å"white man† came into his country and took over. It show you how the â€Å"white man† mad things fall apart. Okonkwo was a very large and tall man. He had big bushy eyebrows and a huge nose. As stated in Things Fall Apart, â€Å"He was tall and huge, and his bushy eyebrows and wide nose gave him a very severe look (3-4).† He was extremelyRead MoreThings Fall Apart vs. Heart of Darkness Essay1617 Words   |  7 PagesAfrican Colonization through Literature: Things Fall Apart Vs. Heart of Darkness History is an extraordinary mix of truth and fiction. The dichotomy that is bred from different historic al perspectives opens the eyes of those who study history to the semi-fabricated nature of much of humanities past. For most of recorded history, events have been recorded and retold through the eyes of the victors. Only recently have people had the opportunity to view both sides of issues. 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Case Analysis The Charter Of Rights And Freedoms

Be that as it may recreational clients of Uavs weighing short of what 35 kilograms — considered model airplane in government terms — needn t bother with authorization from the elected division to send their remote-controlled gadgets undetermined. At this moment in Canada we don t have any laws that direct recreational automatons, particularly, particularly as far as security, says Ciara Bracken-Roche, a Phd competitor at Queen s University, Kingston, Ont., and part of its Surveillance Studies Center. Yet in the meantime, she says, In case you re inside your tenth floor condominium and an automaton flies outside your window and takes pictures into your private abiding, your sensible desire of security is completely abused. In Canada, the Charter of Rights and Freedoms says you have the right to be secure against outlandish pursuit and seizure, Bracken-Roche says, noting that legitimate decisions around a sensible desire of protection come up a lot. The key issue, however, is the thing that plan of action you have in case you re uncomfortable with an automaton floating close to your property. Is it true that it is provocation? A call could be made to the police, and maybe they would discover grounds to lay charges. The utilization of automatons to attack somebody s private home, business and so on could possibly be seen as criminal provocation or voyeurism, says Const. Pierre Bourdages, people in general data officer for Halifax Regional PoliceShow MoreRelatedThe Founding Of The Constitution Act1373 Words   |  6 Pageslegal landscape in numerous ways. The Charter of Rights and Freedoms regulates interaction and communication between the government and individuals, granting them with much needed protection of their rights and freedoms. 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Understanding Nutrition Midterm Quiz Answer Key Essay

Text: Understanding Nutrition: 9th, 10th, 11th, or 12th ed. Whitney/Rolfes. Course Description and Content: Incorporates principles of human nutrition, essential nutrients, nutritional needs of different age groups, and nutrition research. Focuses on the relationship between nutrition, physical fitness, lifestyle, and health, with supporting emphases on consumer awareness, evaluation of nutrition information, eating disorders, and the importance of a balanced, varied diet. Course Learning Objectives: In Nutrition, we explore the ever-evolving science of nutrition. Human nutrition is influenced by endogenous and exogenous factors. We will discuss related topics such as stress, environment, food processing, digestion, safety, and†¦show more content†¦amino acids from glucose b. lactose from a source of sucrose c. fat from excess carbohydrate intake d. glucose from a non-carbohydrate substance 17) What is the minimum daily amount of dietary carbohydrate necessary to spare body protein from excessive breakdown? a. 10-25g b. 50-100g c. 150-175g d. 200-400g 18) Which of the following is a feature of aspartame? a. it is composed of 1 sugar molecule and 3 chlorine atoms b. it is made up of three amino acids c. it is recommended for people with PKU d. two of its breakdown products are methanol and formaldehyde 19) What is the primary absorption site for digestible carbohydrates? a. mouth b. stomach c. large intestine d. small intestine 20) Which of the following is not an essential amino acid in human nutrition? a. proline b. threonine c. methionine d. tryptophan 21) What is the structure of an enzyme? a. lipid b. protein c. nucleic acid d. carbohydrate 22) When nitrogen intake exceeds nitrogen losses, we say the person is in: a. a healthy state b. nitrogen equilibrium c. positive nitrogen balance d. negative nitrogen balance 23) Which of the following is not considered a source of complete protein in human nutrition? a. soy b. egg c. corn d. fish 24) What is the RDA for protein for a 48kg woman? a. 24g b. 34g c. 38g d. 40g 25) What is the percentage of total energy derived from protein in a diet containing 50 g of protein and 2,000 kcal? a.Show MoreRelatedHow to Improve Systems5445 Words   |  22 Pages ASSIGNMENTS/METHOD OF EVALUATION: A1: Group Presentations: CRNBC’s Professional Standards in Action 15% A2: Stage 1 Scholarly paper - Introduction 5% A3: Stage 2 Scholarly paper – Annotated bibliography 10% A4: Midterm Exam (In Class) 20% A5: Stage 3 Completed Scholarly Paper 15% A6: Lab and Clinical*** 10% Lab Quizzes: 10% Lab OSCE’s: Pass or Fail Clinical Performance: Satisfactory or Unsatisfactory A7: Comprehensive ExaminationRead More111135197X 38570 Essay example17696 Words   |  71 Pagesï » ¿Writing Clearly: Grammar for Editing, 3E by Janet Lane and Ellen Lange Table of Contents: Answer Key SECTION 1 UNIT 1 Verb Tenses†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.....†¦Ã¢â‚¬ ¦...3 UNIT 2 Verb Forms†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.....7 UNIT 3 Modals†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..10 UNIT 4 Conditional Sentences†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..13 UNIT 5 Passive Voice†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....16 UNIT 6 Relative, Adverbial, and Noun Clauses†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦19 UNIT 7 Sentence Structure†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦.24 UNIT 8 Word Order†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦26 UNIT 9 Connecting Words†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreVarian Solution153645 Words   |  615 Pagesthat 1 of them is turned into a condominium. 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Analysis of Woolworth Operations-Free-Samples-Myassignmenthelp.com

Question: Write an essay of explaining what the main strategy development tools are and how they are used in your chosen business Organization. Answer: Introduction Gaining a competitive advantage against a companys rivals involves the creation and sustaining of superior performance by the company. Woolworths, an Australian based company operates in the retail industry. The retail industry is highly competitive and this forces Woolworths to formulate competitive strategies by differentiating its operations from the competitors in order to gain a competitive edge (Madsen and Walker, 2015, p. 88). Woolworths faces stiff competition from Wal-Mart, ALDI, TESCO, and Macro Wholefoods Limited companies. The main goal of Woolworths is becoming competitive in the retail industry by giving customer high-quality retail services and products. To achieve this dream, the company applies strategy development tools such as the SWOT analysis, PROFIT, PESTEL, Porter's five forces in designing competitive advantage strategies against its main rivals as mentioned above. The aim of this essay is explaining SWOT, PESTEL, and Five Forces as the main strategy developme nt tools used by Woolworths in gaining a competitive edge against its competitors. Porters Five Forces The Porter five forces strategy analytical tool assesses the current position of the whole sector in which a company operates (Porter, 2011, p. 66). The analysis of Woolworth's operations in Australian retail industry is done through the application of the five forces as follows: Bargaining power of buyers There are numerous companies that operate in the retail industry in Australia. As a result, the bargaining power of customers is significantly higher as far as the purchasing of basic commodities from the supermarkets by customers is concerned (Porter, 2011, p. 68). Since buyers have broad options of companies to buy from, Woolworths offer after sales services such as discounts, transport, and e-business more effectively hence winning more buyers. As a result, the competitive edge is gained. Bargaining power of suppliers The Australian retail industry is highly concentrated with big companies and among them is Woolworths. Other players also dominate the market such as Wal-Mart hence divides the market share for Woolworths retail products (Porter, 2011, p. 69). Woolworths, therefore, should advance its supplies roles to boost its performance in the market hence obtain a wider market share that leads to a competitive advantage. Threats of new entrants In the Australian retail industry, the threat of new players is low since the big companies have dominated the market (Porter, 2011, p. 70). Woolworths being a big player in the market needs to acquire more businesses and market its products in the country to compete out the already established rival firms such as Wesfarmers. Rivalry among existing companies Woolworths is rivaled by Wesfarmers and Wal-Mart in the Australian market. Woolworth competes with these companies for the market share (West, Ford, and Ibrahim, 2015, p. 40). The management should properly assess the strategies used by these rivals to design counter-strategies of improving market share. Threat of substitute Woolworths sells basic commodities for human survival. The market has no other alternative consumable product hence must buy from Woolworths. Therefore, the threat of substitute is lower and consumers have to utilize the retail commodities for there is no other choice. PESTEL Analysis PESTEL is another crucial tool that Woolworths can use in assessing its external industry environment that impacts on its performance. Political The political factors in Australia significantly affect Woolworths performance in the retail industry adversely. For example, the Federal government launched a competition policy to deny Woolworths and other big players the right to eliminating competition (Ashton and Morton, 2005, p. 30). These political conditions make Woolworths lose completion edge to small retailers hence should be addressed. Economic Market recessions in Australia have adversely affected Woolworths performance and profitability in the retail industry. There have been declines in economic activities in Australian markets and this affects Woolworths (Babu, 2012, p. 55). Also, currency fluctuations and exchange rates disparities affect Woolworths international businesses. Social The norms, beliefs, religions, customs, and behavior of consumers in Australian market also affect Woolworths performance in the retail industry. For example, some cultures prohibit consumption of certain foods sold by Woolworths (Yksel, 2012, p. 52). The company is highly socially responsible to the society and gives back to the society. Technological Woolworths operates in a technologically competitive industry in which investing in technology is necessitated. Other big players such as Wal-Mart use e-commerce in selling its products. Woolworths applies the green refrigeration technology in storing perishable products (Babu, 2012, p. 56). Further, the company is adopting the e-business model to increase its sales hence enhance its competitiveness in the industry. Environmental Environmental factors also impact on Woolworths performance and competitiveness in the industry. Petrol and winemaking businesses around Woolworths location poses adverse threats to the company in that the environment is at risk of unclean air to breath and water to drink. As a result, the healthy conditions of workers are endangered (Ghemawat, 2016, p. 732). Legal Legal factors affect Woolworths in form of carbon tax that was implemented by Australias Federal government and affected the retail sector in particular. Regulation of retail operations by Australian Competition and Consumer Commission adversely affects Woolworths performance in the industry (Wagner and Hollenbeck, 2014, p. 90). SWOT Analysis Woolworths applies SWOT (strengths, weaknesses, opportunities, and threats) analysis tool in understanding both internal and external demands in the market hence gaining a competitive advantage. Strengths i. Strong retail brand name and efficient operations ii. Popular and successful brands such as Chad Valley iii. Use of modern retail trade model iv. A wide variety of retail products Weaknesses i. Global presence is negligible as compared to that of rivals ii. Failure to sustain a competitive edge of its brand in the market iii. Late entry to e-commerce hence stiff competition iv. Lower experience in online marketing Opportunities i. Promote its retail brands through adverts, sales promotions, and sponsorship ii. Wide unexploited retail market in the world iii. Availability of strategic acquisitions and mergers in the market iv. Numerous franchise models in emerging economies Threats i. Stiff competition both locally and internationally ii. Recessions in the economy that hinder its growth strategies iii. Increase in material costs from both food to non-food products iv. Falling profit margins due to rising of material costs As highlighted in the introduction, the main competitors of Woolworths are TESCO, Wal-Mart, and ALDI. A proper understanding of the internal and external market forces would help the management of Woolworths design effective competitive advantage strategies (Arli et al., 2013, p. 16). These strategies include the exploitation of the potential markets in the world market to boost performance, the formation of mergers and acquisitions with other companies to diversify its brand recognition and enhance its financial position (Gunjal, 2017, p. 40). Further, Woolworths marketing team needs to employ franchise models in its acquisition policies so as to thrive in the market. Also, the company should enhance creativity and innovation by getting up to date with the new business technologies such as online marketing and e-commerce in order to gain a competitive advantage over its key rivals (Gunjal, 2017, p. 20). Finally, Woolworths needs to invest in building its brand to enhance that its va lue is maintained in the market hence maintaining its competitive edge. Conclusion A critical strategic analysis of Woolworths has been undertaken with an aim of assessing the critical strategies that the company uses to gain a competitive edge against its big rivals. The performance of Woolworths is affected by both internal and external market factors ranging from SWOT factors, PESTEL Factors, and Porter Five Forces. From the analysis, Woolworths is strongly committed to establishing a brand acceptable in the entire Australian and international markets. Woolworths is faced with stiff competition from other big players in the retail industry and this threatens its performance and sustainability in the market. Also, Woolworths operates in adverse economic, political, and legal market environment that affects its performance. While the company cannot take control over the adverse PESTEL factors, the company can come up with strategies for advancing an efficient SWOT model in which all opportunities are exploited and all weaknesses addressed appropriately. Therefore, Woolworths should frame a consistent competitive strategy in which all adverse factors are properly addressed in a manner that will establish a fair price policy to the consumers. Bibliography Arli, V., Dylke, S., Burgess, R., Campus, R. and Soldo, E., 2013. Woolworths Australia and Walmart US: Best practices in supply chain collaboration.Journal of Economics, Business Accountancy Ventura,16(1). Ashton, C. and Morton, L., 2005. Managing talent for competitive advantage: Taking a systemic approach to talent management.Strategic HR review,4(5), pp.28-31. Babu, H.S., 2012. SWOT analysis for opening of FDI in Indian Retailing.European Journal of Business and Management,4(3), pp.55-65. Ghemawat, P., 2016. Evolving ideas about business strategy.Business History Review,90(4), pp.727-749. Gunjal, T.D., 2017. A SWOT ANALYSIS AND RECENT FDI CONTROVERSY OF RETAIL SECTOR IN INDIA.International Research Journal of Multidisciplinary Studies,3(4). Madsen, T.L. and Walker, G., 2015.Modern competitive strategy. McGraw Hill. Porter, M.E., 2011.Competitive advantage of nations: creating and sustaining superior performance(Vol. 2). Simon and Schuster. Wagner III, J.A. and Hollenbeck, J.R., 2014.Organizational behavior: Securing competitive advantage. Routledge. West, D.C., Ford, J. and Ibrahim, E., 2015.Strategic marketing: creating competitive advantage. Oxford University Press, USA. Yksel, ?., 2012. Developing a multi-criteria decision making model for PESTEL analysis.International Journal of Business and Management,7(24), p.52.