Thursday, December 26, 2019

Logistics and Sieges of Alexander the Great Essays

Alexander the Great inherited one of the most powerful armies in the ancient world from his father Philip. The army used a unique spear phalanx that was virtually unheard of outside of Macedonia, and the army was well trained and supported. Additionally Philip felt the use of siege weaponry was of great importance and invested in engineers to aid him. Philip even used siege weaponry on the field in battle some times. Philip set the stage for his son to dominate the known world, and even gave him a road map for conquering Asia minor, but an army and siege weapons are only a portion of an armies success. Especially when planning a long protracted campaign far from home. Alexander’s conquest of Asia was heavily influenced by two very†¦show more content†¦Only enough carts and animals to carry the siege equipment, tents, rations, and other equipment required by the army were used. All additional rations would have to have been carried via Alexander’s fleet. Memnon wanted to pursue a policy of scorched earth and then bring the war to Greece to prevent Alexander from being able to wage war abroad, and if the other Persian generals had followed his advice Alexander would have most likely had to return to Macedonia and never been able to accomplish anything outside of Greece. Due to the Persians vanity they decided to instead attack Alexander directly without razing the countryside and were defeated leading to Alexander gaining the foothold he needed in Asia. A likely scenario would put a seven day limit on the amount of rations the army carried with it in a temperate climate and a two day limit in desert regions where the army could not forage for additional food, water, and fodder. No matter how many pack animals an army used the maximum amount of rations that could be carried would be twenty five days due to the feed required by all of the animals. Another problem with adding additional animals to the supply train is the sheer number of animals required to carry everything. Should the Macedonian army use enough animals to carry the maximum twenty five day amount of rations the number of animals would have stretched over thirty miles and with anShow MoreRelatedEssay on Alexander the Great: The Campaign of Gaugamela614 Words   |  3 Pages The combination of Logistics and Tactics permitted to Alexander III the Great to be successful during the campaign of Gaugamela. Prior to the battle, Alexander the Great decided to take the same r oute Darius took on his way to Issus. He knew that if he wanted to march toward Babylon, he couldnt go through the lower valley of Mesopotamia as there was not sufficient supplies available for his army and the daily temperature in summer is 49 º C.(tactic) He figured out that if Darius larger army andRead MoreThe During The Middle Ages2108 Words   |  9 Pagesit under control. Rome alike it’s predecessors the Greeks were leaders in tactical and technological advances capable of great feats. However the Romans possessed something the Greeks hadn’t: the ability to adapt other weapons, improve them, then implement them into their legions and use them effectively. The Romans were able to strategize through any situation and had great maneuverability and flexibility on the battlefield compared to other countries. Roman legions acted in an modular systemRead MoreThe Similarities And Differences Between The Greeks And Romans Essay1406 Words   |  6 Pagesâ€Å"would defend her frontiers,† Romans demanded a steady supply of soldiers thus gaining a â€Å"nearly inexhaustible reserves of fighting men.† According to Julius Caesar’s Commentaries on the Gallic War, he and the Romans placed great emphasis on the strategies of â€Å"logistics, decisiveness, confidence†¦innovation, patriotism, discipline and fortune.† The Romans also had a strategy of collecting â€Å"intelligence from the enemy from captives, dissenters, and deserters.† Secondly, despite similaritiesRead MoreKey Factors That Led to Union Victory in the Civil War Essay2107 Words   |  9 Pagesknow it today could be quite a different place to live. Throughout the early parts of the century the North had heavily concentrated on industrial improvement while the South had mostly concentrated on agricultural means. This proved to be of great significance, as the two sides would find themselves in a high cost and high demand war. During the onset of the war the North contained 80% of total U.S. industry (Rivera pg.1), and many of these production facilities were quickly and easily transformedRead MoreContemporary Issues in Management Accounting211377 Words   |  846 Pages Contemporary Issues in Management Accounting This page intentionally left blank Contemporary Issues in Management Accounting Edited by ALNOOR BHIMANI 1 Great Clarendon Street, Oxford ox2 6dp Oxford University Press is a department of the University of Oxford. It furthers the University’s objective of excellence in research, scholarship, and education by publishing worldwide in Oxford New York Auckland Cape Town Dar es Salaam Hong Kong Karachi Kuala Lumpur Madrid Melbourne MexicoRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesand industrial depression from the late 1860s to the 1890s, as well as the social tensions and political rivalries that generated and were in turn fed by imperialist expansionism, one cannot begin to comprehend the causes and consequences of the Great War that began in 1914. That conflict determined the contours of the twentieth century in myriad ways. On the one hand, the war set in motion transformative processes that were clearly major departures from those that defined the nineteenth-centuryRead MoreMarketing Mistakes and Successes175322 Words   |  702 Pagesdiscussions, and even debates. In the gentle environment of the classroom, students can hone their analytical skills and also their persuasive skills—not selling products but selling their ideas—and defend them against critical scrutiny. This is great practice for the arena of business to come. NEW TO THIS EDITION In contrast to the early editions, which examined only notable mistakes, and based on your favorable comments about recent editions, I have again included some well-known successesRead MoreDeveloping Management Skills404131 Words   |  1617 Pagestouching the equipment! Tom Peters counseled managers that, due to the chaotic pace of change, â€Å"If you’re not confused, you’re not paying attention.† And the late Peter Drucker characterized the current environment this way: â€Å"We are in one of those great historical periods that occur every 200 or 300 years when people don’t understand the world anymore, and the past is not sufficient to explain the future.† Almost no one would argue that â€Å"permanent white water† best characterizes our current environment

Wednesday, December 18, 2019

The Crucible By Arthur Miller - 1237 Words

Humans and the basis of society have always been inherently flawed from the beginning of mankind. Despite countless years of change, reformations, and improvement, humanity and society alike have not resolved their deep ­rooted issues. The perpetuation of humanity s and society s issues are most obviously seen through the repetition of history. From religious wars fought with blind zeal to the oppression of a certain race or religious group, the innate, barbaric nature of human beings and imperfections in society always act as the main catalysts behind the carnage. As Albert Einstein once stated, insanity is the act of doing the same thing over and over again and expecting different results. Does this mean, then, that humans are truly insane? With the seemingly endless recurrences of events, it certainly seems so, but Arthur Miller, the author of The Crucible, offers his own view on the corrupt underpinnings of humanity by painting a shocking reflection of humanity s animalistic na ture and highlighting the hideous aspects of society in his book. Emphasizing greed, fear, and the power of mobs in society, Miller s reincarnation of the Salem Witch Hunt shines a mirror to the brutal conflicts for authority and power through history. Of all the flaws of humanity and society, greed is the most prevalent and influential, causing many historical conflicts ranging from the French Revolution to World War II. Its role as a powerful catalyst in society is redefined in The Crucible,Show MoreRelatedThe Crucible By Arthur Miller1269 Words   |  6 PagesAt first glance, the playwright Arthur Miller in The Crucible highlights the historical significance of the Salem Witch Trials of 1692, but in fact it is an allegorical expression of his perception of McCarthyism. If the reader has some background information on Arthur Miller’s victimization as a communist, it is evident that the play is a didactic vessel illustrating the flaws of the court system in the 1950’s. The communist allegations were launched at government employees, entertainers and writersRead MoreThe Crucible By Arthur Miller1681 Words   |  7 Pagesof their way to the last dying breath to make sure they leave with a good or bad reputation. In one of the recent literature study in class â€Å"The Crucible† by Arthur Miller, Miller uses characterization to illustrate reputation throughout the play. â€Å"The Crucible† takes place in Salem, Massachusetts. It is based upon the Salem witch trails. In â€Å"The Crucible†, we journey through the life of three characters who reputations plays a major role in the play. The three characters are John Proctor, AbigailRead MoreThe Crucible By Arthur Miller998 Words   |  4 Pagesmotivated by jealousy and spite. The Crucible is a four-act dramatic play production that was first performed on January 22, 1953. Arthur Miller used dialogue within the characters to cover the multiple themes; conflicts and resolutions, plus the few directions for the different actions of the play. The Salem Witch Trials were intended to be performed as the play however, when read, it can be more carefully examined and broken down to analyze the techniques. Miller, the playwright, uses literaryRead MoreThe Crucible By Arthur Miller1333 Words   |  6 PagesAs the various characters in The Crucible by Arthur Miller interact, the dominant theme of the consequences of women’s nonconformity begins to slide out from behind the curtains of the play. Such a theme reveals the gripping fear that inundated the Puritans during the seventeenth century. This fear led to the famous witch-hunts that primarily terrorized women who deviated from the Puritan vision of absolute obedience and orthodoxy. Arthur Miller presents his interpretation of the suffering by subtlyRead MoreThe Crucible By Arthur Miller1145 Words   |  5 PagesUnbalance Through The Centuries In Arthur Miller’s play, The Crucible, the author reflects the persecution of communists in America in the 1950’s through a recount of the Salem witch trials. It is often presumed that Miller based his drama directly off of events that were particularly prevalent in the years surrounding the publication of The Crucible- which was released in the year 1953, towards the conclusion of the Korean War. Although there was not a literal witch hunt occurring during this timeRead MoreThe Crucible By Arthur Miller1063 Words   |  5 PagesIn the English dictionary, there are three definitions of the word crucible. One is a metal container in which metals are mixed and melted. Another is a severe test. But the third definition, and the one that I think fits the best for this book, is a place or situation in which different elements interact to create something new. In my mind, this fits because all of the characters had their little grudges and dirty secrets. But when all th ose seemingly little things interact, they formed somethingRead MoreThe Crucible By Arthur Miller1285 Words   |  6 Pages Rationale, Morality, Stereotypes, Pressure, Self-Censorship, Unanimity, and Mindguards. Groupthink has also taken place in our history a a country. The play, The Crucible by Arthur Miller is about a the real-life Salem Witch Trials that happened in 1692 - 1693, in Salem, Massachusetts. Some symptoms of Groupthink found in the Crucible are Rationale, Pressure, and Self-Censorship. The Groupthink symptom, Rationale, is described as when victims of Groupthink ignore warnings: they also collectivelyRead MoreThe Crucible By Arthur Miller811 Words   |  4 Pages While The Crucible, by Arthur Miller, is only a four act play, it still resembles the format of a five act play. The five-act structure evolved from a three-act structure, which was made famous by Roman Aelius Donatus. Donatus came up with three types of plays: Protasis, Epitasis, and Catastrophe. The five-act structure helped to expand the three act structure, mainly made famous by Shakespeare through his many tragedies. Even though The Crucible contains only four acts, it still has the commonRead MoreThe Crucible By Arthur Miller1052 Words   |  5 PagesBuddy Al-Aydi Ms.Healy English 9 CP 14th October 2014 The Crucible Essay The Crucible was a novel written by Arthur Miller in the 1950’s. It was written in a format of the play, portraying an allegory of the Salem Witch-Hunts led by Senator Joseph McCarthy. The book is known to have a inexplicable plot. This plot is advanced by multiple characters in the book in order to ensure that the reader maintains interest with the material that is being read. The farmer, John Proctor, would be theRead MoreThe Crucible By Arthur Miller841 Words   |  4 PagesThe Crucible is a chaotic play, throughout this American classic Arthur Miller takes the reader through multiple events of terror and insanity. While creating a great on-stage play, Arthur Miller portrays his life through the events, the characters, and plot of The Crucible. Using vivid imagery and comprehensible symbolism, Miller manipulates the real personalities of the characters and events in 1600 Salem, Massachusetts to create a symbolic autobiography. Throughout this play, the reader experie nces

Tuesday, December 10, 2019

Analysis of the Role of Recruitment and Selection †Free Samples

Question: Discuss about the Analysis of the Role of Recruitment and Selection. Answer: Introduction In this paper, there will be performed a significant analysis of the role of recruitment and selection in the effective human resource management, developing and leading people. The recruitment and selection is pivotal in several aspects as it is the central part of the human resource management activities such as rewards, development and acquisition of the workforce. There are several approaches to recruitment and selection that are contrasting in nature. The theorists and researchers have developed these theories as per their individual researchers and viewpoints (Stahl, et al., 2012). There will be highlighted the importance of having a systematic approach to recruitment and selection in the organisations for attracting competent employees. There are still some sorts of issues in the effective application of recruitment and selection practices. The report will throw lights upon these issues such as discrimination, etc. The later part of the report will explain the rise of the comp etency framework of recruitment and selection and will offer insights regarding the fair practices, involvement of social media and e-recruitment practices. Contrasting approaches to recruitment and selection in theory and practice As per Costello, recruitment can be understood as the set of processes and activities that are used for legally appointing a good number of competent and skilled individuals at the right time and at a right place so that the organisation can be benefitted for short term and long term interest. Selection can further explained as the processes or approach which is involved in selecting the most suitable and competent candidate out of all the applicants for the required job profile. Together, the authors explained recruitment and selection as the process of penetrating for the potential employees and encouraging and motivating them to apply for the vacancies in the business organisations (Cappelli and Keller, 2014). For this specific purpose of recruitment and selection there is a worldwide recognized systematic approach which is considered as the most suitable way of having efficient recruitment and selection in the organisations (O'Meara and Petzall, 2013). In such a challenging world , it is essential that the approach used for the hiring process must be systematic in nature. The first and the most vital part in the systematic approach is the job identification, in which the organisations must ensure that the potential candidates can identify the job opportunity easily and in an accessible manner. The second part is appropriate job description so that there are all the relevant details mentioned related to the job profile. Other key aspects in the systematic approaches for recruitment and selection includes skills inventory, job posting strategy, interview, selection and orientation (Rothwell and Kazanas, 2011). The authors have emphasized upon the advantages of taking use of the systematic approach such as improved reach to the potential candidates, selections of competent individuals and faster recruitment and section process (Brewster and Mayrhofer, 2012). There are numerous issues in the recruitment and selection which ultimately results in increased rigidity of the process. The primary issues highlighted by the various authors comprises of the primary issue of out-dated recruitment strategies as there are organisation that still take use of the strategies which are very much ineffective in the present time. It can be stated that a directionless recruitment and selection strategy can only yield poor outcomes for the organisations. other issues and increased rigidity is because of the internal recruitment by the means of promotions from within as if the organisations fill the vacancies through internal promotion then it results in restricted ideas, conflicts and issues at the workplace. There are also issues that arise because of nepotism. It is one of the biggest issues that have been identified by the researchers in their studies in the process of recruitment and selection (Ponzo and Scoppa, 2011). Nepotism can be explained as the pr actices adopted by the executive or the HR managers that have certain power to offer jobs to their relatives, friends or the known irrespective of the fact that they are relatively less competent in comparison with other potential candidates applied for the job. All such issues bring increased rigidity in the organisations and the process that have a negative implication upon the recruitment and selection function and the organisational efficiency. To resolve the issues and challenges of recruitment and selection, the authors have highlighted the practice of competency approach by the organisation and the mangers in the recruitment and selection process. A competency is related with a job, role, function or task. It is the behaviourally defined characteristic that demonstrates a superior and efficient performance across the range of specific roles or tasks in order to accomplish the objectives (Ahsan, Ho and Khan, 2013). The competency based selection and recruitment has its emphasis on the identification of those individuals that can evidence and benchmark those behaviourally established characteristics that are essential for the achieving efficient performance in the specific job role (Sanghi, 2016). In the process of the recruitment and selection there are various points of fetching information instead of just one and this allow the organisations to gather a more clear picture of the competence and sustainability of the cand idate in the organisations (Arthur, 2012). The outcomes of the competency based approach to selection and recruitment is that it offers successful and effective investment of the expertise, money and the time (Hudson, 2017). With this framework, the organisation will be clear about the required competencies and skills for the job profile will provide a good fit among the jobs and the individuals, staff and the managers, help in matching the requirements of eth jobs and the abilities and skills of an individuals and having effective evaluation of the staffing need and work demand (Vazirani, 2010). There has also been analysed by the authors that there are several new and innovative ways of recruitment that comprises of online recruitment, social media usage and e-recruitment. The rise in the usage of internet has probably increased in the last decade and it has become one of the most recognized developments in the field of selection and recruitment and the best way to attract the applicants for the jobs (Rees and French, 2016). As per the researches and the data it has analysed that seventy five percent of the organisations have started taking sue of the social media, corporate websites and online methods for the recruitment and selection. There are not many evidences that shows there are produced improved and qualitative outcomes through online recruitment but still it is the best way to have expanded reach. The two major aspects are involvement of social media and e-recruitment practices. There are few of the extremely well-known sites which have their strong participation i n the recruitment of candidates for the organisations. Facebook, Twitter, LinkedIn and few other are the renowned social media platforms that have the most signified presence of candidates as well as companies for accomplishing the recruitment process (Shafique, 2012). The next vital practice is e-recruitment which is also known as online recruitment. E-recruitment is the practice of taking use of the web-based technology and the resources for the purpose of acquiring, fascinating, assessing, hiring and interviewing the potential personnel. The primary purpose behind taking use of the e-recruitment is to reduce the financial and administrative burden of the organisations and to have an extended geographical reach and access to wider pool of talent. In the e-recruitment, there are other companies or businesses that work on the behalf of the other business corporation that are in search of potential candidates. These recruitment companies advertise the vacancies on various sites and o ffer adequate instruction through which the interested candidates can apply for the job. The individuals themselves have huge interest in applying for jobs through e-recruitment as it is the most accessible means of recruitment. The authors have identified several benefits of these recruitment and selection ways such as low cost, wider reach, no geographical limits, convenient way, required less time and increased efficiency (Latkin, et al., 2013). In the recruitment and selection techniques and approaches there is an essential need of taking care of three vital aspects that includes cost, effectiveness and fairness. These are the key factors that are vital for both the organisations and the candidates. The retention and sustainability of the employees completely depends upon the fairness aspect of the recruitment and human resource practices. If the organisational recruitment processes are influenced by nepotism or unfair practices then it wont be able to have competent workforce as well as there will be a workplace with number of conflicts (Ponzo and Scoppa, 2011). The second aspect is effectiveness which illustrates that it is essential that the recruitment process or approaches smut be effective in nature which can offer improved outcomes. It has been analysed that the online recruitment is effective in faster access but as per the analysis of the results shows that it does not give quality results. Thus, there must be effe ctiveness as well as efficiency in the end outcomes. The third aspect is cost, the organisation are required to invest a lot of capital for the purpose of recruitment and selection. But many a times the organisations do not get valuable results as compared to the cost they have exhausted. Thus, there are various means which are highly cost effective that comprise of online recruitments, virtual recruitment and selection, social media, website sourcing, etc. Thus the modern and contemporary organisations must take use of these platforms to save the cost invested on the recruitment and section approaches (Abraham, et al., 2015). Few of the literature also highlight the dominant role of recruitment in reducing or increasing the issues related to discrimination at the workplaces. There are various cases and real life examples from the corporate world that shows the presence of discrimination issues. At the time of recruitment and selection, there are people that take use of unethical approaches while recruiting the candidates that are the basis of generating discrimination issues in the organisations. The first and the primary discrimination is on the basis of gender as the executive hire the candidates by keeping a awful approach of recruiting the male candidates only on priority as they have a irrational mind set that the females are less competent or skilled in comparison with male employees (Van den Brink, 2010). Thus, it increases the issue of gender discriminations. Even after recruitment, at the time rewards and recognition such issues carry forward. Other recruitment discrimination is on the basis of d isability and age as the companies tend to recruit employees who are young in comparison with recruitment of adult and elderly employees as they have a mind-set that they are less energetic and techno-savvy. The companies also make discrimination on the basis of an individuals disability that ruins the brand image of the organisations as well as it also backs by eliminating a more competent employee. Thus, all such discrimination at the workplace are the result of unfair recruitment approaches and it is essential to eliminate such practices and have a more ethical and fair recruitment and selection practices so that there can be attracted the potential, competent and skilled employees for the job (Hurrell and Scholarios, 2011). Conclusion Recruitment and selection approaches have a significant role in the success or failure of the organisations as it the vital aspect of human resource management and the sustainability of the companies. From this report it can be concluded that several authors have highlighted the importance and benefits of having a systematic approach of recruitment and selection so that there can be a gathered attention of more talented candidates. From the insights of the paper it can also be stated that the organisations must have their focus on innovative recruitment practices such as taking sue of e-recruitment, social media, web resources, etc. so that they acne have a better geographical reach and wider access to talent (Bratton and Gold, 2012). The role of competency approach is also increasing day by day and by implementing this approach the organization can increase the efficiency of the recruitment and selection practices. From the overall analysis, it is also concluded that having fairness , equity and parity is a must to avoid the existence of discrimination in the organisation so that the companies can have a better brand image and improved and competent workforce. References Abraham, M., Kaliannan, M., Mohan, A.V. and Thomas, S., 2015. A Review of Smes Recruitment and Selection Dilemma: Finding a'Fit'.The Journal of Developing Areas,49(5), pp.335-342. Ahsan, K., Ho, M. and Khan, S., 2013. Recruiting project managers: A comparative analysis of competencies and recruitment signals from job advertisements.Project Management Journal,44(5), pp.36-54. Arthur, D., 2012.Recruiting, interviewing, selecting orienting new employees. AMACOM Div American Mgmt Assn. Bratton, J. and Gold, J., 2012.Human resource management: theory and practice. Palgrave Macmillan. Brewster, C. and Mayrhofer, W. eds., 2012.Handbook of research on comparative human resource management. Edward Elgar Publishing. Cappelli, P. and Keller, J.R., 2014. Talent management: Conceptual approaches and practical challenges.Annu. Rev. Organ. Psychol. Organ. Behav.,1(1), pp.305-331. Hudson, 2017. Competency Framework. Accessed on: 3rd August, 2017. Accessed from: https://au.hudson.com/talent-management/competency-framework Hurrell, S.A. and Scholarios, D., 2011.Recruitment and selection practices, person-brand fit and soft skills gaps in service organizations: The benefits of institutionalized informality(pp. 108-127). Cheltenham: Edward Elgar. Latkin, C.A., Davey-Rothwell, M.A., Knowlton, A.R., Alexander, K.A., Williams, C.T. and Boodram, B., 2013. Social network approaches to recruitment, HIV prevention, medical care, and medication adherence.Journal of acquired immune deficiency syndromes (1999),63(0 1), p.S54. O'Meara, B. and Petzall, S., 2013.Handbook of Strategic Recruitment and Selection: A Systems Approach. Emerald Group Publishing. Ponzo, M. and Scoppa, V., 2011. A simple model of favouritism in recruitment.Research in Economics,65(2), pp.78-88. Rees, G. and French, R. eds., 2016.Leading, managing and developing people. Kogan Page Publishers. Rothwell, W.J. and Kazanas, H.C., 2011.Mastering the instructional design process: A systematic approach. John Wiley Sons. Sanghi, S., 2016.The handbook of competency mapping: understanding, designing and implementing competency models in organizations. SAGE Publications India. Shafique, O., 2012. Recruitment in the 21st Century. Stahl, G., Bjrkman, I., Farndale, E., Morris, S.S., Paauwe, J., Stiles, P., Trevor, J. and Wright, P., 2012. Six principles of effective global talent management.Sloan Management Review,53(2), pp.25-42. Van den Brink, M., 2010.Behind the scenes of science: Gender practices in the recruitment and selection of professors in the Netherlands. Amsterdam University Press. Vazirani, N., 2010. Competencies and competency model-a brief overview of its development and application.SIES Journal of management,7(1), p.121.

Monday, December 2, 2019

KMC and market attractiveness

Introduction Kids Market Consulting (KMC) was established in 2002 by Natalie Berezovskaya. The company has similar characteristics described by Tsoy (2005) for medium and small companies. Tsoy (2005) discusses that these companies rely on the top manager’s skills for their strategy and success. They hire employees with technical skills to perform other duties.Advertising We will write a custom report sample on KMC and market attractiveness specifically for you for only $16.05 $11/page Learn More KMC has relied on Berezovskaya’s expertise in children, and experience in the media industry for its success (Taylor Vynogradov, 2004). KMC also attributes part of its success to the partnership it shares with Dynamic Development and Innovation Group (DDI). The current situation is that KMC is threatened by potential competitors who offer undifferentiated products in the Ukrainian market research industry. KMC has created consumer confidence for it s product. Customer loyalty is not guaranteed if competitors develop a similar product. Competitive pricing is the strategy that is most likely to be used by competitors because the market segment appears to have a low growth rate. Russia has a larger market research industry with revenues that amount to about $300 million (Klimenko Harrison, 2013). The Russian market is the most viable expansion location for a small-sized or medium-sized company located in Ukraine. Market attractiveness of Ukraine’s marketing research industry Market attractiveness refers to the market size, growth possibilities, and potential for profits (Cant et al. 2009). The factors to be considered in market attractiveness are market/customer factors, economic and technological factors, competitive factors, and environmental factors (see exhibit 1). Market/consumer factors evaluate the market size, potential, and growth rate. It also considers the product’s stage in the life cycle, customer loya lty, bargaining power of customers, and seasonality of demand (Cant et al., 2009). Stage in life cycle and customer loyalty The life cycle of KMC’s product appears to have reached maturity. If KMC does not find potential expansion areas, its market share can decline because of new rivalry. Firms that offer undifferentiated marketing, advertizing, and branding services consider engaging their services in KMC’s target market (Taylor Vynogradov 2004). KMC has the advantage of customer loyalty.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Its association with Dynamic Development and Innovation Group (DDI) has gives it an advantageous mark of quality. It may be able to withstand competitive forces as a result of the brand image (Taylor Vynogradov 2004). KMC success will also rely on price elasticity in the market. If competitors offer lower prices, customer loyalty may not be guaranteed. Porter’s five forces The market’s profit potential and customer’s bargaining power can be analyzed using Porter’s five forces (McDonald Wilson, 2011). When KMC was developing its product, there was no competition. Children were considered to lack purchasing power. KMC’s successful entry has attracted new rivalry. The market research industry has several large firms offering similar products. Intensity of competition in the industry is high. If the same rivalry that the entire market research industry experiences is transferred to the kids’ market research, KMC is likely to lose a portion of its market share. KMC has to expand geographically. It can intensify its presence in other cities within Ukraine or globally. The threat of substitute is unlikely because kids and adults have different perceptions (Taylor Vynogradov 2004). This makes it necessary to conduct market research that specifically targets children. The market is m ore attractive because the product lacks potential substitutes. The threat of new entrants is determined by the resources that a company needs to start operating. KMC made a successful entry because it relied on DDI resources such as offices, and personnel. KMC had to â€Å"spend 50% of its first year revenue on computers, and project planning activities† (Taylor Vynogradov 2004, p. 6). KMC also has several years of reinvestment. Market entry for a completely new company may be limited by lack of familiarization with the market, and the size of capital. KMC benefited from contacts that the founder had after working in the media industry for several years. New entrants may lack such advantage. However, the large companies that already exist may decide to offer similar services that target kids’ market research. Suppliers have a strong bargaining power if they are a few in the industry. KMC uses psychologists, and other professionals who may be costly to hire. From KMCà ¢â‚¬â„¢s expenses, it is reported that â€Å"70% of the expenses consist of payment made to 5 full-time employees† (Taylor Vynogradov 2004, p. 6).Advertising We will write a custom report sample on KMC and market attractiveness specifically for you for only $16.05 $11/page Learn More Suppliers appear to have strong bargaining power. It is also evident from the revenues of the large firms. Their net income is a small percentage of total revenues (see exhibit 2). This is because of the high cost of supplies. Market attractiveness is reduced by the high cost of human resources. When KMC entered the market, customers did not have strong bargaining power because of less rivalry (Taylor Vynogradov 2004). With more firms willing to offer similar products, customers have gained stronger bargaining power. When customers have stronger bargaining power, profit margins may reduce because of competitive pricing. Low profit margins reduce market attractivene ss. Market growth rate, size and potential KMC is experiencing slow growth. It is also threatened by potential competitors from firms offering undifferentiated services (Taylor Vynogradov 2004). KMC should consider matching its growth rate with that of the whole marketing research industry. It can be used to evaluate possible growth. The growth rate can be estimated using â€Å"average annual growth rate of revenue in that industry† (McDonald Wilson, 2011, p. 180). The Ukrainian market research industry lacks accurate estimates to calculate growth rate. However, a projection can be made using the market leader growth rate. Gfk is the market leader in Ukraine. In 2001, its revenues were 5.07 million hryvnia. In 2011, its revenues were 100.4 million hyrvnia (Gfk Ukraine, 2012). Gfk has experienced an average growth rate of 38.8% in the last ten years (see exhibit 3). KMC could grow at the same rate by investing the same amount of resources. A high growth rate increases market attractiveness. KMC Ukraine can also consider its concentration in the other 6 cities. It can offer specific market research for each city to increase potential for growth. It can also consider that 80% of the population lives in rural areas. According to Taylor Vynogradov (2004), only 20% live in urban centers.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The market size is estimated using total accessible revenue generated in the industry less inaccessible revenue (McDonald Wilson, 2011). The inaccessible revenue represents the customer base that cannot be captured despite additional investment. The size of the Ukrainian market research industry was between $5 million and $20 million (Taylor Vynogradov 2004). The main reason for lack of a more accurate figure is the existence of firms that do not submit their financial records to the government. KMC should consider venturing into the Russian market which is estimated to be 10 times larger (Taylor Vynogradov 2004). Economic and technological factors Economic and technological factors consider the â€Å"investment intensity, level of technology, ability to pass through effects of inflation, barriers to entry/exit, and access to raw materials† (Cant et al. 2009). Barriers to entry have been considered in the Porter’s five forces. Ukraine is considered to have a low inf lation rate (see exhibit 4). Reports indicate that Ukraine is likely to experience deflation this year (Ukraine Inflation Rate, 2013). The Heritage Foundation reports that Ukraine has an inflation rate of 8% (Index of Economic Freedom, 2013). Other reports indicate lower inflation rates. Companies operating in Ukraine are unlikely to lose value through inflation. A low inflation rate increases market attractiveness. The market research industry elaborates mature use of technology. KMC spent 50% of its revenue on computers, and other projects in its first year. This is about $50,000 considering that it generated about $100,000 annually during its initial years. It also invested an additional â€Å"15% to 20% in subsequent years† (Taylor Vynogradov 2004, p. 6). The industry appears to be investment intensive especially on human resources, and technology. A high cost on new technology reduces market attractiveness. Competitive factors Competitive factors consider the product di fferentiation among competitors, industry structure, and competitive groupings among other factors (Cant et al. 2009). There is a great possibility of new entrants in the kids’ market research. KMC benefits from operating under DDI as a competitive grouping. The group may face rivalry from other large groups operating locally or globally. KMC has the advantage of perceived product differentiation. It is also associated with high quality as a result of differentiation. Environmental factors Environmental factors evaluate the â€Å"regulatory climate and degree of social acceptance† (Cant et al., 2009, p. 131). The formation of the Ukrainian Marketing Association (UMA) ensures that companies within the industry use fair practices. UMA is a self regulatory organization (Taylor Vynogradov 2004). It indicates industry maturity. KMC has carried out extensive activities to increase customer awareness. New entrants are likely to find an industry where customers are knowledgea ble. Knowledgeable consumers increase market attractiveness. Kids’ market research significance has been accepted by the industry. Analysis of Kids Market Consulting The major reasons for KMC’s success are the strengths and the competitive advantage. The strengths of the firm are internal factors that give it a competitive advantage. The potential risks are the threats it may face that come from the external environment (Ferrell Hartline, 2010). These factors can be analyzed using the SWOT analysis. SWOT analysis Factors that led KMC to succeed KMC succeeded because of external opportunities which came from the discovery of a new product. Kids’ market research was a segment that was despised for lacking marketability. Kids were considered to lack purchasing power (Taylor Vynogradov 2004). KMC had to carry out awareness programs to create a market niche for kids’ market research. KMC was able to change customer needs and tastes to match its product. Othe r external factors that led to its success are the large proportion of children in the population. Taylor Vynogradov (2004) report that 25% of the urban population consists of children. This made it significant for KMC’s customers to consider their potential for sales. KMC was able to succeed by offering a new product that firms in Ukraine thought lacked potential. Ukraine’s economic growth rate is another external factor that led to the success of KMC. It has been between 4% and 8% since 2000 (Taylor Vynogradov 2004). The average monthly wage ($86) is higher than the living minimum wage ($64). Ukraine may appear to have the purchasing power for more consumption. Ukraine’s unemployment rate has been lower between 2005 (7.185%) and 2008 (6.363%) than it was in other years (Ukraine Unemployment Rate, 2013). Its location in Kyiv gives the company an advantage of a larger customer base than in other cities. The knowledge about the Ukraine kids’ market is an other external factor that led KMC to succeed. Market unfamiliarity has slowed down international firms with a similar product from venturing into the Ukrainian market. Strengths are the internal factors that give a company competitive advantage (Ferrell Hartline, 2010). Differentiation is one of KMC’s strengths that led it to succeed. Specializing in the kids’ market gives it time to produce quality products that have created a strong brand image. Its brand is also reinforced by having partnerships with DDI. Ferrell Hartline (2010) explain that an alliance with other firms has potential for internal strength. The founder’s experience, expertise, and contacts made it easier for KMC to reach out to potential customers (Taylor Vynogradov 2004). The founder’s expertise and experience were significant in the success of the firm. As a result of this, KMC success may be attributed to superior management skills. Another internal factor that led to KMC’ s success is the ability to share costs with DDI firms (Taylor Vynogradov 2004). KMC was able to share offices, and human resources reducing its operational costs. The partnership made it less costly and easier for KMC to venture into the business. KMC was able to hire researchers who conduct surveys with assistance from DDI. It was able to produce quality products because of the alliance with DDI. There is mutual benefit where firms under DDI group are able to sell different products to the same customers. KMC is able to reduce costs by selling one product to several buyers (Taylor Vynogradov 2004). In the consolidated research strategy, the cost of developing the product remains constant while the revenues increase because of more buyers. The KMC reinvestment strategy has enabled it to obtain new technology. New technology enables the company to compete with large firms. Threats and weaknesses KMC main weakness is the lack of a strategic direction to increase growth and profitab ility. KMC market share appears to be consistent on a narrow product line (Ferrell Hartline, 2010). KMC relies only on one product. KMC should consider broadening its product line to include specific manufactured kids’ products, and specific manufacturing firms. It may increase product relevance to customers. It may increase their need to purchase its services, and documented products. Another weakness is that KMC has a few full-time employees compared to potential competitors. Taylor Vynogradov (2004) discuss that KMC has only 5 full-time employees. Gfk reports that it has 170 full-time employees in the Ukraine market research industry (GfkUkraine, 2012). A lower number of employees may reduce costs but it may also be the cause of the slow growth rate. A company is able to broaden its services with more dedicated employees. Employee commitment also increases the quality of product. Threats develop from external factors such as the firms offering undifferentiated products m ay choose to offer a similar product. For example, Gfk has a large number of employees and other resources (Gfk Ukraine, 2012). It may find it easier to dedicate some of its resources to develop a similar product. It is a market leader and has a strong brand image. It is likely to capture a larger market share than KMC in the kids’ market research segment. The KMC product life cycle could face a decline stage if new rivalry develops before it finds new market or new strategy (Taylor Vynogradov, 2004). If other firms venture into the kids’ market research, it is likely to be saturated within a short period. Future of the KMC Large companies may develop similar products to KMC. If they may target the same market segment, KMC market share is likely to reduce. The founder should continue with the plans to expand geographically to ensure growth of the company. The first geographic location the company should venture into should be the Russian market. It is 10 times bigger than that of Ukraine (Taylor Vynogradov 2004). Klimenko Harrison (2013) discusses that the Russian market was about $300million to $310 million in 2008. KMC is likely to grow 10 times if it invests the right amount of resources. In Russia, the top six market research companies had total revenues that amounted to about USD 40 million in 2003 (Tsoy, 2005). The medium sized companies that earn between USD 0.3 million to 1 million were about 25 companies in 2003. KMC may fall into this category. The industry appears saturated but KMC can perform better because of the uniqueness of its product. In Russia, the medium and small market research companies owned about 30% to 35% market share in 2003. Demand in market research products was expected to grow between 30% and 50% (Tsoy 2005). KMC is likely to create a market segment that fits its product. The Ukrainian social environment is almost similar to that in Russia. As a result of market similarity, KMC may have a lesser challenge coping with a new market. There is an expected growth in demand that may keep large companies focused on their product mix rather than venture into KMC’s product line. KMC has developed a strong brand image. It focuses on specialization and product quality (Taylor Vynogradov 2004). It also has a loyal customer base. As a result these factors, KMC should be able to face rivalry with its current market position. It can maintain its customers if it ensures accuracy of surveys to develop quality products. It can also limit rivalry by having most of its employees working full-time. It can avoid having the same employees working for competitors. If the same employees work for competitors, product qualities are likely to be similar. The competition would go to competitive pricing. With higher quality products, KMC can manage to maintain the same level of market share while competitors look for new customers. KMC should also consider increasing the length of its product mix. It can be don e by broadening to services that are closely associated with understanding children’s behavior. KMC can also develop products that target specific manufactured products, and then market them to the companies involved in the manufacturing of the products. Conclusion KMC should keep its product quality to be higher than the other companies to maintain the same level of market share, and to overcome competitive pricing. If large companies with a stronger brand image such Gfk enter its market segment, KMC is likely to lose part of its market share. However, it can still maintain higher quality than Gfk because of its complete product differentiation. KMC should consider venturing into the Russian market because it has a higher demand growth forecast that firms may be unable to satisfy. Its product uniqueness also favors its entry into many other countries. If KMC expands in Russia, there is a large space to fill before its market segment is saturated. The Ukrainian research marke t appears to be attractive because the market leader, Gfk, has an average annual growth of 38% for the last ten years (Gfk Ukraine, 2013). It shows that with more resources KMC can grow even without venturing into new geographical locations. KMC is likely to continue benefitting from the manager’s expertise, and experience in the industry. KMC may appear a small company, but DDI as a group is a large company. KMC may benefit from the alliance through brand image, and ability to sell different products to the same customers. Reference List Cant, C. M., Strydom, W. J., Jooste, J. C., Du Plessis, J. P. (2009). Marketing Management. Cape Town: Juta Company. Ferrell, O., Hartline, M. (2010). Marketing Strategy (5th ed.). Mason: South-Western Cengage Learning. Gfk Ukraine. (2012). Growth from Knowledge. Retrieved from http://www.gfk.ua/imperia/md/content/gfkukraine/presentations/gfk_ukr_comp_p resentation_eng.pdf Index of Economic Freedom. (2013). Retrieved from http://www.herit age.org/index/country/ukraine Klimenko, T., Harrison, M. (2013). Business-to-Business Market Research in Russia. Retrieved from http://www.b2binternational.com/publications/white- papers/russian-market-research/ McDonald, M., Wilson, H. (2011). Marketing Plans: How to Prepare Them, How to Use Them (7th ed.). Chichester: John Wiley Sons. Taylor, S., Vynagradov, O. (2004). Kids Market Consulting. London: Ivey Management Services. Tsoy, Y. M. (2005). The Analysis of Marketing Research Industry in Russia, KORUS. 6 (1), 953-956. Ukraine Inflation Rate. (2013). Retrieved from http://www.tradingeconomics.com/ukraine/inflation-cpi Ukraine Unemployment Rate. (2013). Retrieved from http://world-economic- outlook.findthedata.org/l/5835/Ukraine Appendices Exhibit 1 Factors considered in market attractiveness (Cant et al. 2009). Market attractiveness Competitive position Market/customer factors Size of market- 5 to 20 million USD Market potential- mature The growth rate of market- mark et leader grows by an average of 38% annually Stage in life cycle- maturity Diversity of competitive offerings- undifferentiated products Current customer loyalty- KMC has a strong brand image/built customer confidence Price elasticity- unknown but likely Bargaining power of customers- currently is low for KMC Seasonality of demand- likely Market position factors Relative market share- unknown Rate of change in market share (increasing or decreasing) – slow growth Perceived actual or potential differentiation- actual product differentiation Breadth of current or planned product mix- single product line Company image- strong brand image Economic and technological factors Investment intensity (heavy/medium/low) – considered medium because of costly analysis software and personnel but no plant Level and maturity of technology utilization- high Ability to pass through effects of inflation- low inflation rate about 0.3% Barriers to entry/exit- expertise and other fo rms of capital Access to raw materials- less influential Economic and technological factors Relative cost position- high Capacity utilization- high considering it uses freelancers Technological position- high Patented technology (product or technology) – none except brand Competitive factors Industry structure- saturated Competitive groupings- multiple Threats from substitution- likely Perceived differentiation among competitors- less differentiation Individual competitors’ strengths- Gfk has resources and a strong brand Possibility of new entrants- likely Capabilities of organization Management strength and depth- highly skilled Financial resources- support from DDI RD capabilities- unknown Marketing skills/strengths- good Sales force- unknown Distribution network- unknown Labor relations- unknown Relations with regulators- good Environmental factors Regulatory climate- UMA, a self-regulatory body Degree of social acceptance- customer is well-informed Synergy with other segments Market synergy- ability to benefit from growth in other fields such as psychology and statistics Operational synergy- DDI group Exhibit 2 The net income of global companies for the year 2003 as reported by Taylor Vynogradov (2004) Firm Total income Net income Profit margin Gfk $747m $41.8m 5.6% IPSOS S.A. $564.3m $7.5m 1.3% VNU N.V. $4.9b $163.1m 3.3% Exhibit 3 Gfk revenues and estimated growth rate from 2001 to 2011. Retrieved from http://www.gfk.ua/imperia/md/content/gfkukraine/presentations/gfk_ukr_comp_presentation_eng.pdf Year Growth rate% 2001 – 2002 43.9 2003 116.4 2004 58.9 2005 37.5 2006 27.7 2007 14.3 2008 54.2 2009 1.4 2010 18.7 2011 12.8 Average growth rate 38.8% Exhibit 4 Ukraine’s inflation rate as retrieved from http://www.tradingeconomics.com/ukraine/inflation-cpi This report on KMC and market attractiveness was written and submitted by user Sebastian Berg to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.