Law of the Sea Essay Example | Topics and Well Written Essays - 2000 words

Law of the Sea - Essay Example The different provisions of this convention included setting of limits, navigation rules, exclusive economic zones, continental shelf, deep seabed mining, the exploitation regime, prospects of technology, the issue of universal participation in the convention, pioneer investors, protection of the marine environment, marine scientific research, and settlement of disputes3. The present study focuses on the UN Convention on the Law of the Sea 1982 and discusses about the powers that the Convention provides to flag, port and coastal states trying to determine its effectiveness and appropriateness towards prevention, control and minimization of pollution and damage to the marine environment. UN Convention of the Law of the Sea: Article 94 Presenting Duties of the Flag State: According to the Article 94 of the convention, it was the duty of every State to implement authority and be in command of the managerial, procedural and communal matters in regard to the ships flying its flag4. A regi ster of ships is required to be maintained in every State that contains the details of all the ships flying its flags excluding the ones that are not under the policies of international regulations5. While every State should follow their internal laws, they are supposed to execute significant control over the administration of the ship flying its flag as well as the masters, the crew and the officers associated with the ship6. The convention provides that every State has the responsibility to consider measures for safety in regard to the (a) the construction, equipment and seaworthiness of ships; (b) the manning of ships, labor conditions and the training of crews, taking into account the applicable international instruments; and (c) the use of signals, the maintenance of communications and the prevention of collisions7. The details of the ships flying its flag are required to be monitored and evaluated by qualified surveyors not only before the ships fly their flags but also at reg ular intervals once the ships have started. Charts, nautical publications and navigational equipment and instruments that are necessary for the purpose of navigation safety of the ship also need to be available8. Officers and masters in association of the ships should be suitably qualified in seamanship, routing, communications and marine engineering and that the crew members possess sufficient knowledge regarding the type, size, technology and equipment of the ship9. The convention also provides that the crew members as well as the officers and masters need to be acquainted well with the regulations as directed by the law for the safety of life at sea, the avoidance of collisions, the anticipation, diminution and power of marine pollution, and the maintenance of communications by radio10. For the implementation of the above mentioned measures, the convention also rules that every State should be familiar with the regulations, procedures and practices11 internationally stated and th us consider safety measures accordingly. A State has the provision of reporting to the flag State in case any irresponsibility or lack of proper control is observed by the State in relation to the ship flying its flag12. In case of any casualty or incident in navigation leading to loss of lives or in cases of serious

Should the UK government restore the 50% additional rate of income tax Essay - 4

Should the UK government restore the 50% additional rate of income tax - Essay Example From a general perspective, one can easily identify the motives of the UK government in terms of pumping out fund flow from the economy. Observing with an economic perspective, the tax hike initiative of the UK government can be categorized as a major deterrent factor that has slowed down the pace of functionality of this nation’s economy by a considerable extent (Young & Saltiel, 2011). UK citizens, in the present market economic scenario, are literally forced towards paying high rates of taxes whereas the lower income groups are made to pay marginal amounts. Considering all these aspects, the discussion will majorly focus towards answering the currently rising question regarding whether the UK government should restore the 50 per cent additional hike of income tax rates. Maintaining correspondence, the details regarding these aspects have been elaborated in the underneath sections. As mentioned above, the objective of this paper is to analyse the impacts of income tax hike on the overall trade practices and economic pace of development of the UK. Based on the findings generated thereupon, appropriate conclusions will be made constructed as to whether the UK government should bring down its present income tax levels to 50% as previous. In contemporary macro-economic concepts, taxation is deemed as one of the fundamental tenets that holds significant influence on the stability and performance of any nation. It operates as a basic mechanism in the financial system of a country. The history behind imposing an additional 50% on the existing income tax rates can directly be linked with the hollow and un-rational mentality of the coalition government. The coalition government intended to impose a higher level of tax burden upon the richer income groups with the intention of attaining better revenue inflow along with stability in the overall wealth distribution process within

Assistive Technology Essay Example | Topics and Well Written Essays - 750 words

Assistive Technology - Essay Example Introduction Assistive technology refers to the technology used by disabled persons to enable them overcome the difficulties they experience. This technology includes devices such as wheelchairs and walkers, which aid in mobility (Pruski & Knops, 2005). Hardware and software used to access computers and information technologies by disabled people also form part of assistive technology. For instance, persons whose hands have limited function can use keyboards that have large keys or a specific mouse while operating computers. Blind people can use software that generates text in a computer screen from a voice generated by the computer. In addition, people who do not see properly can use software that will enlarge the content in the screen of the computer; while deaf persons may use a text telephone (Solarz, 1990). Research Methods, procedures, and instruments. Data in this research will be collected using the interview method, by asking the participants questions regarding the study to pic. Participants in the study will include beneficiaries of assistive technology; people faced with disabilities to the extent that they wholly depend on assistive technology. Data will also be collected from families of disabled persons, and teachers who use assistive technology while dealing with disabled students. ... Previously documented sources of data can also be reliable as they include empirical findings on research already conducted on the topic. The data collection tools, methods, and instruments will be pretested to determine their validity and reliability. Findings advantages Assistive technology enhances learning in people with disabilities, as it helps them to communicate with ease, and receive instructions in a manner they can easily comprehend. When disabled persons use this technology, they become independent because they can move and play without seeking assistance from other persons (Blackstone, 1990). Therefore, the adoption of assistive technology promotes learning in children with disabilities. Pruski & Knops (2005) assert that teachers and caregivers find the technology useful while dealing with the disabled children, as it speeds up learning in children and enables them to be at the same level with other children. The use of the technology makes people with disabilities to be more functional than they could be without the technology. As a result, the technology turns out to be useful in early interventions to model the disabled persons. Assistive technology enables the disabled persons to access recreation facilities and entertainment. Resulting from the technology, persons with disabilities become rehabilitated; they can be employed in organizations because computers enable them to have the ability to work (Jonge et. al, 2006). Teachers apply different styles of learning to instruct students while using assistive technology. Instructions based on the use of computers improve motivation of the students and gives immediate feedback. Once disabled

Time Warp Essay Example | Topics and Well Written Essays - 1000 words

Time Warp - Essay Example I realized I was in a different dimension. I have traveled back in time. So I went on with my journey. I was hired at Handheld Corp. and was given a rather comprehensive task. I was asked to review Joe Schmoe’s financial report on handheld products sales. Analysis On the PDA simulator I had a final score of 1,185,800,553. I did better than Joe Schmoe by 20,890,196. I have observed that Joe’s strategy was a â€Å"lazy† implementation of marketing. If he took the time to analyze the performance of a product and what prices were appropriate to set, he would yield higher profits. I have made numerous attempts using a simulator to prove that my strategies worked better. I followed the advisor’s analysis and used it as my guide in pricing and allocation of R&D. One strategy I used for marketing handheld products is market segmentation. This is implemented by providing handheld products in different categories (X5, X6, and X7) to serve specific needs of target cu stomers and increasing market share. Even with the discontinuation of X5 handheld in 2009, it was a strategy to market better available products to attract buyers. Pricing strategy was also what I’ve used relative to R & D allocations to generate profits. For instance, X5 sales were starting to decline. In 2008, I did not drop the price significantly or I Time Warp 2 will lose a lot of money. I was able to keep customers who purchased the X5 handheld for $240. Then, I decided to discontinue the product the following year to avoid more losses. R&D allocations were a bit tricky. I used the advisor’s analysis to manipulate the allocations. For example, when X5 was discontinued in 2009, I kept the same prices for X6 and X7 as of 2008 in 2009 and increased their R&D allocations to 30% and 70% respectively. The tremendous increase in R&D had a positive impact on revenues. However, in 2008, I decided to distribute R&D of 25% equally to X5, X6, and X7 handheld products. When I tried to reduce X5 R&D to 10%, I had a higher loss. With 25% R&D I was able to avoid the loss of -9,870,920 and reduced it to a loss of -$6,176,598. If I didn’t adjust that 10% R&D, it would affect profits for 2009. I also based my analysis on the product performance and on what level they are in terms of sales. For instance, X7 handheld was in the ‘growth phase’ in 2006 with a profit of $3,199,108. The following year, I reduced its price to $200 and allocated a higher R&D of 25%. The result was phenomenal. I had a profit of $23,555,939. Maintaining the 25% R&D and price the following year, the profit for X7 was more than doubled. Here’s the breakdown of prices, R&D allocations, and profits for X5, X6, and X7: 2006    PRICE R & D allocation PROFITS X5 255 25% $105,374,127 X6 415 30% $164,680,477 X7 215 23% $3,199,108 TOTAL       $273,253,711  Time Warp 3 I increased the prices for all handheld products and decreased their R&D. As a result, advisor y said X7 handheld was in the growth phase and potential X7 customers were new customers. X7 handheld performance was holding steady while X6 was priced the same as other competing products. Although Joe gained a higher profit of $295,185,49 in 2006, it was only temporary. 2007    PRICE R & D PROFITS X5 245 25% $98,442,902 X6 415 30% $213,598,730 X7 200 25% $23,555,939 TOTAL       $335,100,583  Since X6 performance was better than that of competition, I decided to maintain the price and R&D and it paid off as I had a higher profit. However,

The concepts of empowerment Essay Example for Free

The concepts of empowerment Essay Question 1 Explain the concepts of empowerment, self-managed teams, and cross-functional teams, and develop an essay that argues for their inclusion in either a tall or flat organizational structure. Empowerment is the process of giving employees the authority to make important decisions and to be responsible for their outcomes. Empowerment should exist in tall organizational structure because if the size of the tall organizational structure is bigger is operating process or more tasks appear or tasks become more and more complex, managers at the top of hierarchy will gradually lose the control regarding their work. Self-managed teams reflect self-lead work groups consisting of people who are jointly responsible for ensuring that the team accomplishes its goals. Self-managed teams should exist in flat organizational structure because self-managed teams need to be control well with a few levels to avoid hindering communications. Cross-functional teams are groups of employee from across an organization’s different functions who are empowered to direct and coordinate the value-creation activities. Question 2 Bureaucracy is a phenomenon that presents itself in varying degrees in organizations. When does bureaucracy become a problem in an organization? How can the principles of bureaucracy help managers to design the organizational hierarchy? What can managers do to prevent bureaucratic problems from arising? Bureaucracy becomes a problem when it hampers the work of the organization. When there are too many steps involved and too many people involved to solve issues and make quick decisions, then bureaucracy is a problem. When the hierarchy is inflexible and difficult to wade through, it is a problem. Decisions should not be made without adequate information and time, but when the decisions are bogged down in bureaucratic red tape, the rules and layers of approval, then companies can lose business and opportunities to  act in tune with the market. The principles can help identify the form and the job functions. It helps design the jobs and the technical skills needed to do the jobs so that the best people can be hired to do the job. The principles establish the rules and the focus of the company so there are firm expectations and goals. When all of these are put in place the managers then have the path to follow to create a successful company. Managers must remember that each person is hired because of their skills if the principles are followed. The need for decisions must not be hampered by a top heavy group of decision makers and the rules are in place to guide the decision making process. The hierarchical structure is a form, not a law and when rules and the hierarchical are the only considerations in decision making the systems becomes bogged down and inflexible, or worse, time consuming. In addition, the job and the functions of the company should be impersonal and so should the treatment of employees. Equality is important in an organization. Listening to everyone, accepting diversity in culture, experience, and knowledge can help a company avoid many problems in a bureaucracy. Reference: http://www.bustingbureaucracy.com/excerpts/weber.htm

Voluntary Involuntary And Non Voluntary Euthanasia Essay

Voluntary Involuntary And Non Voluntary Euthanasia Essay In 1995, the Australian Northern Territory was the first place in the world to legalise voluntary euthanasia under the Rights of the Terminally Ill Act 1995. The first person to voluntarily end their life on Sunday, 22 September 1996 was Bob Dent, a terminally ill patient with prostate cancer (Grey 1999, p.19). As a reaction to this law and Bob Dents death a Liberal Party backbencher, Kevin Andrews introduced the Euthanasia Laws Bill 1996 which being a Federal Act over road the Northern Territory Act making euthanasia illegal in all States and Territories of Australia. Nonetheless, the vast majority of Australians from doctors to philosophers support voluntary euthanasia. For example, Australian philosopher, Peter Singer, actively supports euthanasia in his book of Taking Life: Human while pro-euthanasia Doctor Phillip Nitschke assisted Bob Dent to die by a lethal injection. This essay explains what euthanasia is and discusses whether voluntary euthanasia should be a right of the terminally ill. Euthanasia means a gentle and easy death, (Oxford Dictionary of Phrase and Fable 2006) and it is usually used to refer to the induced death of those who are incurably ill and in great pain or distress in order to spare them further suffering or distress. It is often referred to as mercy killing. Singer (1993, p.175) classified euthanasia as voluntary, involuntary or non-voluntary. Involuntary euthanasia means without the consent of the person who dies even if they express a wish to live and is effectively murder even if the motives are to benefit the deceased. Non-voluntary euthanasia occurs where a persons mental age is or has always been that of an infant so that they have no capacity of express any preference to live or die such as when someone is severely disabled infant since birth or those who suffer severe brain damages after accidents and become permanently mentally disabled. Sometimes people in this situation are allowed to die by withdrawing medical services such as intensive care treatment. Voluntary euthanasia which is where a person consciously chooses an early death (Singer 1993, pp.175-177). This essay will only focus on ethical arguments as to whether voluntary euthanasia and non-voluntary should be legalised. One argument for euthanasia is the utilitarian principle which says that the lives of some people can be sacrificed for the benefit of others deemed more worthy of care. It has been said that When applying the utilitarian theory to the ethics of euthanasia, can it not be said that Self Deliverance for a competent terminally ill patient is an unselfish act (Maj 2002)? Utilitarianism is commonly expressed as the greatest good for the greatest number (Rohnann 1999, cited in Rich Butts 2005, p. 9). A moral theory is utilitarian if and only if it assesses rules in terms of nothing but their utility. Jeremy Bentham, invoked what he described as a fundamental axiom it is the greatest happiness of the greatest number that is the measure of right and wrong (Bentham 1823). Utilitarians theorise that there is the same ground for voluntary euthanasia as for non-voluntary euthanasia as death is the benefit for the person killed but is it possible to justify ending the life of a human being who lacks the capacity to consent in the same way as where people are capable of consenting, and do in fact consent (Singer 1993). Utilitarians consider that death will bring peace to the patient, family and friends and can be justified purely on the utilitarian grounds that a terminally ill person has lost the ability to pursue the intellectual or physical life they once had or has lost dignity by becoming dependent on others for fundamental needs such as going to the toilet. (Maj 2002). Something I can identify with having seen my once proud grandfather after a stroke having to wear a nappy. In my opinion for many once dignity and self sufficiency are lost death is a release. The strongest argument for active voluntary euthanasia is based on respect for individual autonomy or self governance. Autonomy is the belief that every person has the right to shape their own life through their choices which includes the right to choose the time and circumstances of their death and is expressed concerning basic human dignity (Grey 1999, p.21). The principle of autonomy is an expression Kants ideal that having ones own choice whether that choice is good or bad is of paramount importance for life. Kant believes that suggesting someone knows better than yourself in such a personal thing as death is a dubious paternalistic presumption (Grey 1999,p.21) in many ways similar to this current governments belief that they know best what you should see or read on the internet. J.S. Mill in his expression of the harm principle state: the only purpose for which power can be rightfully exercised over any member of a civilised community, against their will, is to prevent harm to others. His own good, either physical or moral, is not a sufficient warrant. (Grey 1999, p.21) Autonomy acknowledges an individuals sovereignty over all acts which only affect self on the basis that it is insupportable to have someone else choose the timing of ones own death. (Grey 1999,p.21). This is difficult to argue against since only in the most horrendous crimes do States now have the power to deprive a criminal of life yet involuntary euthanasia suggests they have the right to kill non criminals. However if a person chooses to die we should respect that wish. Peter Singer believes voluntary euthanasia is a matter of respecting a persons preference and overall well-being, welfare or interests in their particular circumstances such as when they are suffering from cancer. In Holland, a nationwide government survey found that Many patients want an assurance that their doctor will assist them to die should suffering become unbearable (Singer 1993). One argument for euthanasia which involves utilitarian theory is the need to reduce societys costs in an ever more crowded world by reducing the number of people needing intensive care. There are many arguments against euthanasia. The possibility of abuse is one of the most common arguments against euthanasia. Abuse may mean patents are pressured by families or medical facilities to agree to ending their own life. Family may want to see the suffering end but they may also want to see the inheritance now. Doctors may wish to free up scare medical resources for those they believe they can save and in fact hospitals make these sort of choices by withdrawing medical support for the terminally ill. Opponents argue that we can never be sure that a request to be killed is the result of a free and rational decision, particularly as they are likely to be suffering pain, very probably drugged and confused (Singer 1993). Depression is also an issue because it is a form of pressure from within. A depressed person is more likely to choose to take their own life whether or not they are terminally ill. Another argument against euthanasia is the level of protection required to ensure it is not misused will actually make it more painful. No one who is ill is going to want to face a barrage of questions and forms to choose death yet leaving the documentation to Doctors or Family or some other party leaves open the door to abuse. There is also the opening the floodgatesor Slippery Slope argument that if society accepts euthanasia as a universal right of competent terminally ill patients to decide their fate (Maj 2002) then how long will it be before society decides what should be done with the chronically ill, handicapped or simply old who no longer contribute but are a burden on society. The Catholic Church objects to euthanasia on religious grounds saying that the church opposes euthanasia as that life which God has bestowed on each one of us, can never be sacrificed for the sake of the good of self-determination as it contravenes the Thou shalt not kill commandment (Demarco 2003, p. 154).However, the church distinguishes euthanasia from decisions to forego aggressive medical treatment which are medical procedures which no longer correspond to the real situation of the patient, either because they are by now disproportionate to any expected results or because they impose an excessive burden on the patient and his family (Demarco 2003, p. 155). In conclusion, voluntary euthanasia may be seen as a way of giving respect to those who are in distress and paid and wish to leave life, family and friends with dignity. While there are arguments against voluntary euthanasia they are, apart from religious moral concerns, easily overcome by putting in place appropriate safeguards such as a number of independent witnesses who must ensure that the person who is contemplating euthanasia is fully aware of what they are doing and that there is no going back. Non-voluntary euthanasia is more difficult as no consent is possible but can be justified on the grounds that the benefit to society is larger than the detriment to the individual particularly if the individual is and has been so damaged that they cannot appreciate the life they live. Singer says in his book of Rethinking Life and Death We should say theyre alive but nonetheless their life is not viable. They are alive but that life is not worth living (Singer 1999)

Online Shoe Company Business Strategy

Online Shoe Company Business Strategy INTRODUCTION The business strategy game is an online, PC-Based game in which you run the world wide athletic footwear market in confronting each other competition against other markets companies run by different group of students into different industry. But this paper only focus on the industry 10 where 12 different companies named Air Nike, Dolce and Banana, IMF vs WTO, Fabulous Foots, Galpha, BAD BOYZ III, Legs supreme, CHU WUB CHU WUB, KVincci, , E-XIE, HA-N Ltd., and Just walk are included. In my industry BAD BOYZ III includes five members (Virayudh Baram, Saif Ur Rehman, Ying Zhao, Maliha Hasin and Imran Shahzad) are responsible for managing all aspects of the companys operation. Every company tried to use their best technique and execute well planned strategies for their company specially considering against the strategies of competitor companies, delivers good bottom-line results (Net Revenue, Earning per share (EPS), the return on equity (ROE), stock price, credit rating and image rating ) and builds shareholder value. This paper is divided in three main sections. First section describe the strategy adopted by BAD BOYZ III Company with the help of Michael Porter â€Å"Five Forces† theory, second section describes the external analysis of company using PESTLE analysis and at end the BAD BOYZ III company analysis from year 11 to year 17 will be discussed with each year progress diagrams shown in Appendix. BUSINESS STRATEGY IMPORTANCE The business strategy game is real time practice business environment. In this game our role is as Manager who responsible to use productive and efficient strategies for company production and profit. In strategic management the role and effect of top managers on company performance and importance of this relationship how may be affected by companys strategy is always recognize as critical issues (Hambrick and Mason (1984), Gupta and Govindarajan (1984), Gunz and Jalland (1996)). Business strategy is influenced by top management team of any firm (Hambrick and Mason, 1984). MICHAEL PORTER (1985) BASIC STRATEGY MODEL Michael Porter (1985) describes market Industry constitution and arrangement within the market is key factor for establishment of competitive strategy. Competitive advantages of any company against other competitors can be described by the â€Å"Five Forces† diagram shows the main idea of Porters theory of competitive advantage. This theory helps companies to know about the rules and regulation of competition in market. Porter argues, The ultimate aim of competitive strategy is to cope with and, ideally, to change those rules in the firms behavior (1985, p. 4).† According to Porter five forces find out company prosperity and profitability. Micheal Porter (1985) five forces are given below: Threat of substitutes Threat of new entrants Bargaining power of buyers Bargaining power of suppliers Competition among existing companies Porters 5 Forces Elements of Industry Structure In strategy implementation, competitive advantages, utilizing new production, new inputs for Foot Wear industry Porters Value Chain and Activity Mapping ideas give us useful information to applying these all activities. The value chain activities help BAD BOYZ III Company for examining all activities related to company performance and interaction such as (e.g. development, marketing, sales, operations, etc.) as a potential source of advantage. In year 12 company situation was little bit down and we were losing market shares in such situation we adopted the value chain activities of Porter. These activities help company existing and potential sources of differentiation e.g. products, associated services. The reason to choose this strategy ‘low cost and value chain system was helpful to underline the competitive advantages that cannot come from production side but anywhere from value chain. It also helps us to fit into value chains like suppliers, buyers and channels. PESTLE ANALYSIS PESTLE analysis is usually used to measure the organizations external factors like position, potential and direction for a business or organization. PESTLE is an acronym for Political, Economic, Social, Technological, Legal and Environmental factors. BAD BOYZ III Company PESTLE analysis is measured below: Political Factors Political factors illustrate that how and to what extent government intervenes in the investment. The main politics factors are trade barriers, tax policy, trade policies, labor law, export tariffs and environmental law. As concern to BAD BOYZ III Company not much influenced by these factors as all four regions North America, Asia Pacific, Latin America and Europe are associated with WTO. Economical Factors Economic factors show how business operate and what of decision would be make, these factors include economic growth, interest rates, exchange rates and the inflation rate. In the success and development of BAD BOYZ III company exchange rate, affect the costs o exporting products and the supply and price o imported product in an economy, plays a major role. From year 11 to year 17 company maintained a steady exchange rate. Even though company made some mistakes but due to healthy exchange rate company never fall badly. Social Factors These factors show cultural effects, health and safety aspects, people their age, population and growth rate, age and careers approaches. BAD BOYZ III Company participated in charity an as well Corporate Social Responsibility (CSR) and also providing complete health and safety environment. Technology Factors Technology factors are ecological and environment aspects like Research and development (R D), technology usage rate and automation, determine barriers to entry, low productive manufacturing level and impact on outsourcing decisions. BAD BOYZ III knows the importance of technology and benefits in business environment. Company all private label capacity stocks in Latin America and Asia Specific was up to date because these technology shifts can affect costs, quality, and lead to innovation. Environment Factors In environment major factors are weather, climate and variation in climate include weather, climate, and change. These factors can be analyzed as company insurance, farming and tourism. Up to date with weather inform company operation according to weather and products they offer to their customers. Legal factors Legal factors determine company legal boundary, discrimination law, consumer law, antitrust law, employment law, and health and safety law. These are average fixed value of any country and companies cannot across these boundaries. ANALYSIS OF BAD BOYZ III COMPANY FROM YEARS 11 TO 17 A complete and in depth analysis of BAD BOYZ III company is given below: Year 11 In the begging of year 11, BAD BOYZ III has total production plant capacity 6,000,000 to complete the requirements of production only for two regions North America and Asia Pacific. BAD BOYZ III Company has also managed to fulfill the production requirements of remaining regions Latin America, Europe-Africa. In the start of year 11 the demand in North America and Asia Pacific is not much high as compared to present production. So our company decided to sell 200,000 production in North America and 800,000 in Asia Pacific. BAD BOYS III adopt strategies free shipping, model offer and attractive price and advertisement in internet segment and in whole sale garment we offer rebate and model with delivery time guaranteed and advertisement to compete in competitive market. With these strategies we got good market share in internet segment but the market share in whole sale was not according to wish. At the end of year 11 our companys progress was good in contrast with other market companies with 7th position out of the 12. BAD BOYZ III company overall progress was good in footwear industry with revenue $266583000, net profit $ 30224000 with credit rating A-. Year 11 complete detail of BAD BOYZ III competitive strengths and weakness and development can be seen from appendix-1. Year 12 In year 12 BAD BOYZ III company co-managers made some changing in their management and business strategy to get maximum profit from footwear industry market. As the result of year 11 and market competitive approach we decided to sell our products with high and standard quality. As the result of new strategy, quality of product, profit was good and also helped to get high position. In internet segment our competitive strength was marketing, celebrity appeal, S/Q rating and model offer but with some weakness like retail price and shipping charges was some kind of not good factor in competitive market. In whole sale market our S/Q rating, rebate offer and retailer supports were our competitive strength points while the competitive weakness were wholesale price and retail outlets. At the end of year 12 because of some weaknesses in whole sale market and internet segment, company overall progress and position of BAD BOYZ II was down 10 out of 12 with revenue 201395000, net profit 8,587,000, EPS 0.86 and credit rating â€Å"c†. The complete description of BAD BOYZ III company year 12 weaknesses, strengths and overall progress is shown on appendix -2. Year 13 Year 12 result forced the BAD BOYZ III management to seriously take the notice of company performance that is going down. After a long discussion among BAD BOYZ III company co-manager we concluded that we should re-evaluate the company strategy and offer high quality products with low price that strategy lead to ‘low cost and increase market shares described by Portal(1985) five forces theory which is focus on high quality with low price. To achieve maximum profit and top position in footwear market we also considered about the private label segments. Year 13 is the year of thinking for us as the result of year 12 that make us to re-think our all strategies and policies that makes impact on our competitive strategies. With adoption of new strategy our competitive strengths retail price, advertising and model significantly increased but still some weaknesses are shipping charges and retail outlet are there. Because of change in strategy and improvement in retail segment, at end of year 13 Company received very good response in private label segment and got satisfaction results in other segments like revenue $ 393,872,000 that is double of last year 12, net profit was $ 31,854,000 with the ratio of earning per share equal to 3.19. These out comes caused companys rank improvement like was 8th out of 12th. In appendix-3 the BAD BOYZ III Companys year 13 overall progress including strength and weaknesses has shown. Year 14 Year 13 results increase our confidence and courage to getting more effective and efficient in the market and also lead us to understand the purchasing behavior of consumers. In year 14 we continued our last used strategy high quality with cheap price to attract more and more customers. It can only be achieved with high production as amount of consumers increased compared last year. To complete this target we need high amount money thats why BAD BOYZ III Company took a long term loan $ 248,000,000 from the bank. That loan enabled us to fulfill the production plant capacity 4600,000 per year in North America. To get high profit and maximize the sale production we seriously focus on private label that enables BAD BOYZ III competitive strengths increased as compare to the year 13 and sufficient reduction in weaknesses like internet segment and wholesale segment. End of the year 14 BAD BOYZ III Company almost received 100% response and overall progress was getting better with revenue $577,496,000 and net profit $41612, 000. In private label segment company done well and sell all pairs in private label segment caused the market share of private label segment increased such as 76.6% in North America, 52.0 % in Asia-pacific and 62.9% in Latin America as contrast to other market shares. This year increase in private label segment and overall progress helped BAD BOYZ III Company to improve its position like 6th out of 12th. For over all progress see Appendix-4. Year 15 Year 15 was little bit thinking year for BAD BOYZ III management team as the competition and consumers increasing unexpectedly. So our management decided to fix with no cost leadership and customer purchasing behaviors strategy by following Porter (1985) five forces and considering more on North Americas private label segment. The main reason to focus on North America was company high expenditure in this region because of more consumers and demands. Company wanted to get 100% feedback from that region as last year our management bought new plant capacity for it. Increased in demand and production caused the increase in BAD BOYZ III competitive strengths as compare to previous year such as ‘celebrity appeal but weakness remained same as ‘model availability. End of the year 15th brought good news in market share as BAD BOYZ III achieved all market share from North America in private label segment as compared to other regions but with some sad news as company lost his market share in rest of regions. The total revenue was $ 530,284,000 and net profit $ 55474,000 which is somewhat increased as contrast to year 14. In BAD BOYZ III company success story another success was stock prize $ 102.49 and company also offered amount 10,135,000 dividend this year. The company rank was getting better and better as was 5 out of 12. In Appendix-5 year 15 overall progress is shown. Year 16 In year 16, BAD BOYZ III Company decided to remain fixed with same strategy as in year 15 company sold almost all products. To achieve this target company decided to increase the production and plants in different segments especially in North America and Asia Pacific to produce more revenue. Company was getting satisfaction feedback from North America, so company decided to build more plant capacity in North America as well in Asia Pacific region. BAD BOYZ III Company purchased 1500 plant capacity and build 500 in North America and also considering Asia Pacific purchased 800 plants capacity in that region. In year 16th the companys competitive strengths were celebrity appeal and advertising same as last year and company also tried to get rid of the weakness related to company production and profit. Company decided to sell quantity of 500 stocks in the price of $ 96.72 as stock price was really high. At the end of the year 16th the BAD Company revenue was $ 537,898,000 that is little bit high as contrast the previous year and net profit was $30,721,000. As company was getting almost 100% market share in private label from North America caused BOYZ III market share strong position in foot wear market. Appendix-6 represents the Year 16 over all progress. Year 17 Year 17 was decision year for BAD BOYZ III management because company management decided to buy new plant in North America with capacity of 1,900,000 pairs per year. This decision is made on behalf of the year 16 results as consumers increase unexpectedly. Company also reduced the 50% prices of pairs to sell more and more products in all regions to accomplish this strategy and apply these prices we need more and more stocks. Company decided to purchase new 3135 stocks with the price of 57.73 per share. These share prices were higher than the average market shares and company still focusing on North America private label segment with 90.5% share. As mentioned above year 17 was decision year for BAD BOYZ III to make another major decision in market. For this purpose we make a commission to discuss all aspects of Footwear Company including stocks and competitive environment. In this commission we included that we should offer 4000 pair at price of $ 40, was doubled as compare to last year, in North America private label region. That decision is made on two reasons: From the last few years company was getting required feedback from North America. There were no strong competitors in North America. At the end of year 17th the decisions made and strategies applied resulted in excellent outcomes. In North America private label company sold 3546 pairs out of 4,000 at double price $40. BAD BOYZ III company revenue was 690,317,000 and net profit was 107,491,000 increased highly up to 300%. These successful factors boost company rank to top three positions like was 3rd out of 12. The other big achievement was in region of Earning per Share (EPS) that was $14.33 helped to come in 76th position from all over the world in footwear industry. APPENDIXES Appendix-1 Year 11th BAD BOYZ III Annual Summary Report Appendix-2 Year 12th BAD BOYZ III Annual Summary Report Year 12th BAD BOYZ III Annual Summary Report Revenue Net Profit Earnings Per Share Stock Price Return On Equity Image Rating Credit Rating $201,395,000 $8,587,000 $0.86 $21.07 4.60% 61 C North America Internet Segment: Wholesale Segment: Private Label Segment Actual Industry Average Actual Industry Average Actual Market Demand Price $75.30 $68.57 $62.66 $52.47 MAX $47.47 Model Offered 200 168 200 192 Advertising $15,000,000 $6,959,000 $15,000,000 $6,879,000 Celebrity Appeal 100 23 100 21 S/Q Rating 6 5 6 5 4 Market Share 10.0% 9.1% 6.6% 8.3% 0.0% 100.0% Europe Africa Internet Segment: Wholesale Segment: Private Label Segment Actual Industry Average Actual Industry Average Actual Market Demand Price $75.30 $69.52 $62.80 $53.32 MAX $48.32 Model Offered 200 166 200 192 Advertising $15,000,000 $6,771,000 $15,000,000 $6,771,000 Celebrity Appeal 70 18 70 18 S/Q Rating 6 5 6 5 4 Market Share 9.4% 8.3% 7.2% 8.3% 0.0% 100.0% Asia Pacific Internet Segment: Wholesale Segment: Private Label Segment Actual Industry Average Actual Industry Average Actual Market Demand Price $75.30 $68.57 $95.53 $51.88 MAX $46.88 Model Offered 2 Online Shoe Company Business Strategy Online Shoe Company Business Strategy INTRODUCTION The business strategy game is an online, PC-Based game in which you run the world wide athletic footwear market in confronting each other competition against other markets companies run by different group of students into different industry. But this paper only focus on the industry 10 where 12 different companies named Air Nike, Dolce and Banana, IMF vs WTO, Fabulous Foots, Galpha, BAD BOYZ III, Legs supreme, CHU WUB CHU WUB, KVincci, , E-XIE, HA-N Ltd., and Just walk are included. In my industry BAD BOYZ III includes five members (Virayudh Baram, Saif Ur Rehman, Ying Zhao, Maliha Hasin and Imran Shahzad) are responsible for managing all aspects of the companys operation. Every company tried to use their best technique and execute well planned strategies for their company specially considering against the strategies of competitor companies, delivers good bottom-line results (Net Revenue, Earning per share (EPS), the return on equity (ROE), stock price, credit rating and image rating ) and builds shareholder value. This paper is divided in three main sections. First section describe the strategy adopted by BAD BOYZ III Company with the help of Michael Porter â€Å"Five Forces† theory, second section describes the external analysis of company using PESTLE analysis and at end the BAD BOYZ III company analysis from year 11 to year 17 will be discussed with each year progress diagrams shown in Appendix. BUSINESS STRATEGY IMPORTANCE The business strategy game is real time practice business environment. In this game our role is as Manager who responsible to use productive and efficient strategies for company production and profit. In strategic management the role and effect of top managers on company performance and importance of this relationship how may be affected by companys strategy is always recognize as critical issues (Hambrick and Mason (1984), Gupta and Govindarajan (1984), Gunz and Jalland (1996)). Business strategy is influenced by top management team of any firm (Hambrick and Mason, 1984). MICHAEL PORTER (1985) BASIC STRATEGY MODEL Michael Porter (1985) describes market Industry constitution and arrangement within the market is key factor for establishment of competitive strategy. Competitive advantages of any company against other competitors can be described by the â€Å"Five Forces† diagram shows the main idea of Porters theory of competitive advantage. This theory helps companies to know about the rules and regulation of competition in market. Porter argues, The ultimate aim of competitive strategy is to cope with and, ideally, to change those rules in the firms behavior (1985, p. 4).† According to Porter five forces find out company prosperity and profitability. Micheal Porter (1985) five forces are given below: Threat of substitutes Threat of new entrants Bargaining power of buyers Bargaining power of suppliers Competition among existing companies Porters 5 Forces Elements of Industry Structure In strategy implementation, competitive advantages, utilizing new production, new inputs for Foot Wear industry Porters Value Chain and Activity Mapping ideas give us useful information to applying these all activities. The value chain activities help BAD BOYZ III Company for examining all activities related to company performance and interaction such as (e.g. development, marketing, sales, operations, etc.) as a potential source of advantage. In year 12 company situation was little bit down and we were losing market shares in such situation we adopted the value chain activities of Porter. These activities help company existing and potential sources of differentiation e.g. products, associated services. The reason to choose this strategy ‘low cost and value chain system was helpful to underline the competitive advantages that cannot come from production side but anywhere from value chain. It also helps us to fit into value chains like suppliers, buyers and channels. PESTLE ANALYSIS PESTLE analysis is usually used to measure the organizations external factors like position, potential and direction for a business or organization. PESTLE is an acronym for Political, Economic, Social, Technological, Legal and Environmental factors. BAD BOYZ III Company PESTLE analysis is measured below: Political Factors Political factors illustrate that how and to what extent government intervenes in the investment. The main politics factors are trade barriers, tax policy, trade policies, labor law, export tariffs and environmental law. As concern to BAD BOYZ III Company not much influenced by these factors as all four regions North America, Asia Pacific, Latin America and Europe are associated with WTO. Economical Factors Economic factors show how business operate and what of decision would be make, these factors include economic growth, interest rates, exchange rates and the inflation rate. In the success and development of BAD BOYZ III company exchange rate, affect the costs o exporting products and the supply and price o imported product in an economy, plays a major role. From year 11 to year 17 company maintained a steady exchange rate. Even though company made some mistakes but due to healthy exchange rate company never fall badly. Social Factors These factors show cultural effects, health and safety aspects, people their age, population and growth rate, age and careers approaches. BAD BOYZ III Company participated in charity an as well Corporate Social Responsibility (CSR) and also providing complete health and safety environment. Technology Factors Technology factors are ecological and environment aspects like Research and development (R D), technology usage rate and automation, determine barriers to entry, low productive manufacturing level and impact on outsourcing decisions. BAD BOYZ III knows the importance of technology and benefits in business environment. Company all private label capacity stocks in Latin America and Asia Specific was up to date because these technology shifts can affect costs, quality, and lead to innovation. Environment Factors In environment major factors are weather, climate and variation in climate include weather, climate, and change. These factors can be analyzed as company insurance, farming and tourism. Up to date with weather inform company operation according to weather and products they offer to their customers. Legal factors Legal factors determine company legal boundary, discrimination law, consumer law, antitrust law, employment law, and health and safety law. These are average fixed value of any country and companies cannot across these boundaries. ANALYSIS OF BAD BOYZ III COMPANY FROM YEARS 11 TO 17 A complete and in depth analysis of BAD BOYZ III company is given below: Year 11 In the begging of year 11, BAD BOYZ III has total production plant capacity 6,000,000 to complete the requirements of production only for two regions North America and Asia Pacific. BAD BOYZ III Company has also managed to fulfill the production requirements of remaining regions Latin America, Europe-Africa. In the start of year 11 the demand in North America and Asia Pacific is not much high as compared to present production. So our company decided to sell 200,000 production in North America and 800,000 in Asia Pacific. BAD BOYS III adopt strategies free shipping, model offer and attractive price and advertisement in internet segment and in whole sale garment we offer rebate and model with delivery time guaranteed and advertisement to compete in competitive market. With these strategies we got good market share in internet segment but the market share in whole sale was not according to wish. At the end of year 11 our companys progress was good in contrast with other market companies with 7th position out of the 12. BAD BOYZ III company overall progress was good in footwear industry with revenue $266583000, net profit $ 30224000 with credit rating A-. Year 11 complete detail of BAD BOYZ III competitive strengths and weakness and development can be seen from appendix-1. Year 12 In year 12 BAD BOYZ III company co-managers made some changing in their management and business strategy to get maximum profit from footwear industry market. As the result of year 11 and market competitive approach we decided to sell our products with high and standard quality. As the result of new strategy, quality of product, profit was good and also helped to get high position. In internet segment our competitive strength was marketing, celebrity appeal, S/Q rating and model offer but with some weakness like retail price and shipping charges was some kind of not good factor in competitive market. In whole sale market our S/Q rating, rebate offer and retailer supports were our competitive strength points while the competitive weakness were wholesale price and retail outlets. At the end of year 12 because of some weaknesses in whole sale market and internet segment, company overall progress and position of BAD BOYZ II was down 10 out of 12 with revenue 201395000, net profit 8,587,000, EPS 0.86 and credit rating â€Å"c†. The complete description of BAD BOYZ III company year 12 weaknesses, strengths and overall progress is shown on appendix -2. Year 13 Year 12 result forced the BAD BOYZ III management to seriously take the notice of company performance that is going down. After a long discussion among BAD BOYZ III company co-manager we concluded that we should re-evaluate the company strategy and offer high quality products with low price that strategy lead to ‘low cost and increase market shares described by Portal(1985) five forces theory which is focus on high quality with low price. To achieve maximum profit and top position in footwear market we also considered about the private label segments. Year 13 is the year of thinking for us as the result of year 12 that make us to re-think our all strategies and policies that makes impact on our competitive strategies. With adoption of new strategy our competitive strengths retail price, advertising and model significantly increased but still some weaknesses are shipping charges and retail outlet are there. Because of change in strategy and improvement in retail segment, at end of year 13 Company received very good response in private label segment and got satisfaction results in other segments like revenue $ 393,872,000 that is double of last year 12, net profit was $ 31,854,000 with the ratio of earning per share equal to 3.19. These out comes caused companys rank improvement like was 8th out of 12th. In appendix-3 the BAD BOYZ III Companys year 13 overall progress including strength and weaknesses has shown. Year 14 Year 13 results increase our confidence and courage to getting more effective and efficient in the market and also lead us to understand the purchasing behavior of consumers. In year 14 we continued our last used strategy high quality with cheap price to attract more and more customers. It can only be achieved with high production as amount of consumers increased compared last year. To complete this target we need high amount money thats why BAD BOYZ III Company took a long term loan $ 248,000,000 from the bank. That loan enabled us to fulfill the production plant capacity 4600,000 per year in North America. To get high profit and maximize the sale production we seriously focus on private label that enables BAD BOYZ III competitive strengths increased as compare to the year 13 and sufficient reduction in weaknesses like internet segment and wholesale segment. End of the year 14 BAD BOYZ III Company almost received 100% response and overall progress was getting better with revenue $577,496,000 and net profit $41612, 000. In private label segment company done well and sell all pairs in private label segment caused the market share of private label segment increased such as 76.6% in North America, 52.0 % in Asia-pacific and 62.9% in Latin America as contrast to other market shares. This year increase in private label segment and overall progress helped BAD BOYZ III Company to improve its position like 6th out of 12th. For over all progress see Appendix-4. Year 15 Year 15 was little bit thinking year for BAD BOYZ III management team as the competition and consumers increasing unexpectedly. So our management decided to fix with no cost leadership and customer purchasing behaviors strategy by following Porter (1985) five forces and considering more on North Americas private label segment. The main reason to focus on North America was company high expenditure in this region because of more consumers and demands. Company wanted to get 100% feedback from that region as last year our management bought new plant capacity for it. Increased in demand and production caused the increase in BAD BOYZ III competitive strengths as compare to previous year such as ‘celebrity appeal but weakness remained same as ‘model availability. End of the year 15th brought good news in market share as BAD BOYZ III achieved all market share from North America in private label segment as compared to other regions but with some sad news as company lost his market share in rest of regions. The total revenue was $ 530,284,000 and net profit $ 55474,000 which is somewhat increased as contrast to year 14. In BAD BOYZ III company success story another success was stock prize $ 102.49 and company also offered amount 10,135,000 dividend this year. The company rank was getting better and better as was 5 out of 12. In Appendix-5 year 15 overall progress is shown. Year 16 In year 16, BAD BOYZ III Company decided to remain fixed with same strategy as in year 15 company sold almost all products. To achieve this target company decided to increase the production and plants in different segments especially in North America and Asia Pacific to produce more revenue. Company was getting satisfaction feedback from North America, so company decided to build more plant capacity in North America as well in Asia Pacific region. BAD BOYZ III Company purchased 1500 plant capacity and build 500 in North America and also considering Asia Pacific purchased 800 plants capacity in that region. In year 16th the companys competitive strengths were celebrity appeal and advertising same as last year and company also tried to get rid of the weakness related to company production and profit. Company decided to sell quantity of 500 stocks in the price of $ 96.72 as stock price was really high. At the end of the year 16th the BAD Company revenue was $ 537,898,000 that is little bit high as contrast the previous year and net profit was $30,721,000. As company was getting almost 100% market share in private label from North America caused BOYZ III market share strong position in foot wear market. Appendix-6 represents the Year 16 over all progress. Year 17 Year 17 was decision year for BAD BOYZ III management because company management decided to buy new plant in North America with capacity of 1,900,000 pairs per year. This decision is made on behalf of the year 16 results as consumers increase unexpectedly. Company also reduced the 50% prices of pairs to sell more and more products in all regions to accomplish this strategy and apply these prices we need more and more stocks. Company decided to purchase new 3135 stocks with the price of 57.73 per share. These share prices were higher than the average market shares and company still focusing on North America private label segment with 90.5% share. As mentioned above year 17 was decision year for BAD BOYZ III to make another major decision in market. For this purpose we make a commission to discuss all aspects of Footwear Company including stocks and competitive environment. In this commission we included that we should offer 4000 pair at price of $ 40, was doubled as compare to last year, in North America private label region. That decision is made on two reasons: From the last few years company was getting required feedback from North America. There were no strong competitors in North America. At the end of year 17th the decisions made and strategies applied resulted in excellent outcomes. In North America private label company sold 3546 pairs out of 4,000 at double price $40. BAD BOYZ III company revenue was 690,317,000 and net profit was 107,491,000 increased highly up to 300%. These successful factors boost company rank to top three positions like was 3rd out of 12. The other big achievement was in region of Earning per Share (EPS) that was $14.33 helped to come in 76th position from all over the world in footwear industry. APPENDIXES Appendix-1 Year 11th BAD BOYZ III Annual Summary Report Appendix-2 Year 12th BAD BOYZ III Annual Summary Report Year 12th BAD BOYZ III Annual Summary Report Revenue Net Profit Earnings Per Share Stock Price Return On Equity Image Rating Credit Rating $201,395,000 $8,587,000 $0.86 $21.07 4.60% 61 C North America Internet Segment: Wholesale Segment: Private Label Segment Actual Industry Average Actual Industry Average Actual Market Demand Price $75.30 $68.57 $62.66 $52.47 MAX $47.47 Model Offered 200 168 200 192 Advertising $15,000,000 $6,959,000 $15,000,000 $6,879,000 Celebrity Appeal 100 23 100 21 S/Q Rating 6 5 6 5 4 Market Share 10.0% 9.1% 6.6% 8.3% 0.0% 100.0% Europe Africa Internet Segment: Wholesale Segment: Private Label Segment Actual Industry Average Actual Industry Average Actual Market Demand Price $75.30 $69.52 $62.80 $53.32 MAX $48.32 Model Offered 200 166 200 192 Advertising $15,000,000 $6,771,000 $15,000,000 $6,771,000 Celebrity Appeal 70 18 70 18 S/Q Rating 6 5 6 5 4 Market Share 9.4% 8.3% 7.2% 8.3% 0.0% 100.0% Asia Pacific Internet Segment: Wholesale Segment: Private Label Segment Actual Industry Average Actual Industry Average Actual Market Demand Price $75.30 $68.57 $95.53 $51.88 MAX $46.88 Model Offered 2