Evaluating The Environmental Quality International On A...

This venture has undertaking is recognizing to be little asper the concerned task evaluated $100,000/- For this outside standard ATOM technique will be associated. The going with ATOM technique will be utilized for the Environmental Quality International in Siwa Project: †¢ Initiation: clarifying and recording targets of the project being evaluated, and defining the subtle element of the methodology has to be executed archiving the outcomes in a risk management plan. †¢ Identification: exposing and reporting which it may influences projects goals either emphatically or adversely †¢ Assessment: either qualitatively describing risks individual so they can be understood and prioritized, and /or qualitatively modeling to the effect of risk on the†¦show more content†¦The First Assessment will be finished inside 10 days of venture begin, and surveys will be performed month to month Tools and Techniques The accompanying devices and methods will be utilized to backin g the administrations prepare on the Environmental Quality International in Siwa Project: Launch: Management Plan is issued at undertaking begin and investigated by the Project Manager customarily throughout the task. Conspicuous Proof †¢ Both threats and open entryways will be recognized using the going with strategies: †¢ Brainstorming with all parts of the endeavor bunch notwithstanding delegates of key suppliers †¢ Analysis of all undertaking suspicions and prerequisites, both irrefutable and unequivocal †¢ Review of a standard plan †¢ Ad Hoc recognizing evidence of s by endeavor partners at whatever time all through the errand †¢ Initial Register to record perceived for further examination, imitating the standard course of action Examination †¢ Probability and Impact Assessment for every one perceived, using the assignment specific scales portrayed in Appendix A. †¢ Double P-I Matrix to necessities s for development, using the standard â € ¢ Scoring estimations centered around probability and impact. †¢ Top List for need organization thought †¢ Arrangement using the standard Breakdown Structure †¢ Register move up to join evaluation data. Response Planning †¢ Response Strategy Selection as fitting for

Dress Shop Free Essays

string(84) " business designed to make wedding gowns, barongs, tuxedo’s and cocktail dresses\." Name of the Enterprise The business name â€Å"Wedlock Trends† will display a wedding dress shop that will offer the latest and the hottest styles of wedding apparel of the season. Location The location of the business is at Door 4, 500 Gabaton Building, Elpidio Quirino Avenue, Davao City. The commercial space measures 5Ãâ€"14 sq. We will write a custom essay sample on Dress Shop or any similar topic only for you Order Now The space will be rented at P12, 000/month, exclusive of water and electricity expenses. The area is a perfect spot for a wedding dress shop for it is easy to find since it is located in the main road. Aside from that, the area is filled with office buildings, inns, schools, and other business entities nearby. Descriptive Definition of the Product Wedlock Trends shall cater to the needs of grooms and brides in a comfortable and relaxed setting. In its warm and intimate setting, the Wedlock Trends’ friendly and knowledgeable bridal consultants are available to help in finding everything that they need for their upcoming wedding. We offer bridal dresses and all the accessories as well as fashions required for the rest of the bridal party. Project’s Long-Range Objectives Wedlock Trends has been created with one main objective: to provide the bride with the ultimate experience in finding the perfect wedding dress! In 2016, Wedlock Trends will create tie-ups with the prominent photo studio and flower shop here in Davao. It will be convenient for our clients for they don’t have to waste their time searching for quality photos and videos as well as fresh and beautifully arranged flowers. Wedlock Trends will expand and cater other occasions as well. Elegant night gowns, classic dresses, up-to-date men’s suit, and a lot more will be added to our collection for parties, debuts, and other significant events. By doing such, it is expected that the number of employees in every department will be increased as well as the machineries used in the process. Feasibility Criteria The most important guidelines used to judge the feasibility of the project is its marketing aspect and financial aspect. The marketing aspect tells what the project is all about, who the target market is, when is the perfect time to open the business, where is it located, and how is it going to compete with its competitors. It is also where the demand and supply analysis is, which will be a great criterion. The financial aspect provides the data that shows the projects profitability. It is important to know if the project is attainable, feasible, and profitable. Highlights Of The Project History Many young girls dream about what kind of wedding dress they’d like to wear on their special day so we have thought of creating a project that will certainly be desired by our target market. It’s a business that caters not only the needs of a soon-to-be couples but one that fulfills their dreams, to have a unique and remarkable wedding. This is an amazing business which has developed a strong, distinctive and individual identity with a reputation for both quality and service – very profitable business. This is a delightful business with bridal gowns to suit every style of wedding. It is fantastic opportunity to own a money making business in a very up-market industry. This business is not just a business, it is a life style choice with plenty of fashion. This very good business opportunity provides bridal wear, stocked with a superb range of designer wedding gowns, bridal accessories include jewelry, tiaras, stationery, gifts, to compliment any wedding reception which is excellent for add-on purchases. This is a business opportunity to own and grow a dynamic business . This is an amazing opportunity for someone who just wants to literally wants to jump straight in and continue the exceptional success achieved. It is a business opportunity that is highly profitable and offers great potential whether h global, national or local aspect. Project Time Table and Status The project is expected to be operational by May 2014. For now, thorough studies and research are being done to carefully analyze its standing once we enter the market. Nature of the Industry The wedding gown industry is one that is made up of multiple smaller enterprises like caterers, wedding consultants, dresses, various eauty suppliers (hair, makeup), photographers, favors/bridesmaids gifts, music, honeymoon related, etc. While the industry as a whole represents a lot of money, each of the component parts is much smaller — some smaller than others. These smaller composite suppliers can be very local and likely will be small and privately owned. Mode of Financing The source of fu nds of Wedlock Trends that will be used to put up the business is from the contributions of the four (4) persons who will be the owner of the dress shop. Each shall contribute P625, 000 for a total of P2, 500, 000. 00. A cash contribution is better than bank loans for it has a lower risk and high interest cost which will result to lower income. Investment Cost The funds allocated for this project is P2, 500, 000. 00. The proponents have agreed to form a partnership wherein four (4) persons merge to contribute for the capitalization of Wedlock Trends, with the intention of dividing the profits among themselves. Major assumptions and summary of findings and conclusion on the following: Market Feasibility In our Market Study, we identify who will be our customers, suppliers, and competitor as well as the number of demand that we will gain in the succeeding years. In our data of demand analysis the first year show lesser number of demands, it is because Wedlock Trends is new to the market and customers do not know the business yet. The succeeding years shows the increasing number of demand, it is because Wedlock Trends formulated a marketing program which to have a flyers, posters and streamers printing for the customer to be aware about the existing of the business. Technical Feasibility Wedlock Trends is a clothing business designed to make wedding gowns, barongs, tuxedo’s and cocktail dresses. You read "Dress Shop" in category "Essay examples" The business offer readymade dresses aside from made to order and customize clothes. The supply is high; there are many companies who supply such equipment. Financial Feasibility The Wedlock Trend Dress Shoppe shows an income statement of the cash flows the cash receipts such as profit, salary, capital and so on has an increase every year. It means that the business gaining a profit. For the balance sheet, there is also an increase and the total assets and the total liabilities and owners’ equity is well balance. For the ratio analysis, the profit ratio has an average of 41. 26% means there is a profit of . 43. For the payback capital computation, there is 2. 21, means the capital of the business can be recovered within 2 years. Socio-economic Feasibility The number of Wedding dress shop in Metro Davao is rapidly increasing. The more competition, the better it is for the market, because innovation, better products and service will be present. These industries will affect the economy as a whole on a much more scale. It gives employment to those who seeks job. Management Feasibility The structure of the business begins with the four (4) persons/partners who are also the owners of the business. The manager will handle the sales, manufacturing and service aspects of the business. In terms of salary scale, the manager will be compensated with minimum wage and the other employees are below the minimum wage. MARKET STUDY Clothing is a beautiful visual demonstration of the social and emotional needs of people wearing it. It also portrays in a clearly understood visual manner, what people of different cultures and styles want socially. Fashion, through times, has gone through so many rapid changes and bizarre extremes that it has examples of nearly every kind of clothing function, especially when it comes to wedding attires. The range of Filipino wedding dresses is remarkably wide, according to the vast cultures, geographical differences, purchasing capacities, influence of the western culture, and bewildering diversities of the ethnic groups. One has, therefore, to sift and isolate, and then relate and bring together, the ideas for creating various designs, which can fit in the context of the Filipino style, conservative, elegant yet still in trend. When it comes to the most special day of a couple’s life, we like to make a personal effort to make it all that it can be. The business will be a full-service wedding dress shop catering to customers who are searching for reasonable quality products at affordable prices. Our main focus will be quality in every process right from buying stuff, raw material selection, designer selection, stitching till the delivery of product to final customer in order to fulfill our goal of customer satisfaction. We will be providing standardized products as well as customized dresses according to ones needs. Geographical areas of dispersion The location of the business is at Door 4, 500 Gabaton Building, Elpidio Quirino Avenue, Davao City. The commercial space measures 5Ãâ€"14 sq. The rental price is P12, 000. 00 per month, exclusive of water and electricity expenses. Our Competitors are the Wedding Glamour, Wedding Channel, Wedding Avenue, and Knot’s Forever. Target Market The scope of our wedding dress shop is the people living within Metro Davao with a population of 1,449,296 (National Statistics Office, 2010). To be specific, most of the target market will be composed of couples of ages 18 years old and above, teenagers and young adults in high school and college, and young professionals, who belong to the middle and upper class. The middle class customers are those who have moderate income and have the capability to purchase products and services with high quality. The upper class customers are those who have high income and have the capability to purchase product and services with high quality, and look for luxury. Target Market |Age |Population | |Couples |18 – 64 years old |635,412 | |Teenagers |13 – 18 years old |255, 465 | |Young Adults |20 – 24 years old |117,083 | |Young Professionals 25 – 34 years old |186, 691 | |Walk-ins |18 – 64 years old |635,412 | Demand Analysis Projection of the number of the products to be sold. PRODUCTS |Year 1 |Year 2 |Year 3 |Year 4 |Year 5 | | | | |Bridal Gown |– inclusive headdress, 2nd veil, cord, (2) cushi ons, pouch bag | |Grooms’ Barong |– pinya jusi with embroidery (free makeup) | |Whole Entourage |(1) maid of honor, (3) bridesmaids, (3) flower girls | | |(1) best man barong, (3) groomsmen barongs, | | |(3) bearers (ring, coin, bible) | |Parents’ outfits of the couple |- parents of the couple | | |free pictures | |Bronze Special Package = P 20,000. 00 | | |Bridal Gown |– inclusive headdress, 2nd veil, cord, (2) cushions, pouch bag | | |free make up | |Grooms’ Barong |– pinya jusi with embroidery (free makeup) |Whole Entourage |(1) maid of honor, (3) bridesmaids, (3) flower girls | | |(1) best man barong, (3) groomsmen barongs, | | |(3) bearers (ring, coin, bible) | |Parents’ outfits of the couple |- parents of the couple | | |free pictures | | |free video CD of the wedding | |Gold Special Package = P 30,000. 0 | | |Bridal Gown |– inclusive headdress, 2nd veil, cord, (2) cushions, pouch bag | | |free gown and make up | |Gr ooms’ Barong |– pinya jusi with embroidery (free makeup) | | |free male perfume | |Whole Entourage |(1) maid of honor, (3) bridesmaids, (3) flower girls | | |(1) best man barong, (3) groomsmen barongs, | | |(3) bearers (ring, coin, bible) | |Parents’ outfits of the couple |- dress suits for the parents of the couple | | |free pictures | | |free video CD of the wedding | |Diamond Special Package = P 50,000. 0 | | |Bridal Gown |– inclusive headdress, 2nd veil, cord, (2) cushions, pouch bag | | |free gown, make up, bouquet | |Grooms’ Barong |– pinya jusi with embroidery (free makeup) | | |free male perfume | |Whole Entourage |(1) maid of honor, (3) bridesmaids, (3) flower girls | | |(1) best man barong, (3) groomsmen barongs, | | |(3) bearers (ring, coin, bible) | |Parents’ outfits of both couple |- dress suits for the parents of the couple | | |free pictures with album | | |free video CD of the wedding | | |free picture publicity on Mindanao Daily Mirror | Competitor’s Analysis |Name of Competitor |Products/Services |Location |Store Hours | |Wedding Glamour |Gown Entourage Package: |Door 1 Gahol Bldg. , E Quirino|9:00 – 5:00pm | | |1 Bridal Gown w/ accessories |Ave. , Davao City | | | |1 Groom Attire | | | |1 Maid of Honor Gown | | | | |3 Bridesmaid Gowns | | | | |3 Flower Girl Gowns w/ basket | | | | |1 Bestman Barong | | | | |3 Groomsmen Barong/Tuxedo | | | | |3 Bearer’s Barong/Tuxedo | | | | |2 Mother Dress | | | | |2 Father Barong | | | |Wedding Avenue |Gown Entourage Package: |Front of Dep-Ed, E. Quirino |9:00 – 5:00pm | | |1 Bridal Gown w/ accessories |Ave. | | | |1 Groom Attire |Davao City | | | |1 Maid of Honor Gown | | | | |3 Bridesmaid Gowns | | | | |3 Flower Girl Gowns w/ basket | | | | |1 Bestman Barong | | | | |3 Groomsmen Barong/Tuxedo | | | | |3 Bearer’s Barong/Tuxedo | | | | |2 Mother Dress | | | | |2 Father Barong | | | |Wedding Channel |Gown Entourage Package: |E. Quirino Avenue, Davao City| | | |1 Bridal Gown w/ accessories | | | | |1 Groom Attire | | | | |1 Maid of Honor Gown | | | | |3 Bridesmaid Gowns | |8:00 – 5:00pm | | |3 Flower Girl Gowns w/ basket | | | | |1 Bestman Barong | | | | |3 Groomsmen Barong/Tuxedo | | | | |3 Bearer’s Barong/Tuxedo | | | | |2 Mother Dress | | | | |2 Father Barong | | | |Knots Forever |Bridal Package: | | | | |1 Bridal Gown | |8:00 – 5:00pm | | |1 Head Dress |E. Quirino Avenue, Davao City| | | |1 1st Veil | | | | |1 2nd Veil | | | | |1 Cord | | | | |2 Cushions | | | |1 Groom Barong / Tuxedo | | | | |Entourage: | | | | |1 Maid of Honor Gown | | | | |1 Maid of Honor Head Dress | | | | |3 Bridesmaid Gowns | | | | |3 Flower Girls Gown | | | | |3 Baskets | | | | |1 Best Man | | | | |3 Groomsmen Barong | | | | |3 Bearer’s Barong | | | Marketing Program Our means of advertisements are posters and streams printing, through networking sites, and fashion shows. Posters and Streamers Printing – This can also be a tool for advertising. We can put posters and streamers printing at malls and hotels and restaurants for them to easily recognize our product. Facebook Multiply – Billions of people, foreign or local are users of Facebook. And these people logs in almost everyday for about an hour or more. Through Facebook and Multiply, it is easier to reach the right audience. It is easy, convenient, and costs no cent. Newspaper Ads – The oldest form of advertising is still an effective way to reach a large number of people. These ads can do a lot more than just advertise one item or one sale–each one can work really hard to bring in customers, and then bring them back again and again. They’re a good way to reach a large number of people, especially those aged 45-plus who end to read the paper more frequently than younger demographic groups who tend to get their news from television, radio or the internet. And we can target our ads to the appropriate markets by requesting that our ads run in t he section(s) that most closely relate to our target audience. MANAGEMENT STUDY Personnel Expertise Wedlock Trends will hire one (1) manager, two (2) sewers, two 2 (cutters), two (2) beaders. The descriptions of hiring employees are the following: |Manager – |Responsible for maintaining the store in order to ensure residents and visitors have access to necessary supplies and| | |accommodations. |Responsibilities |Maintain customer services and facilities | | |greet customers and provide assistance | | |maintain cleanliness and order in the store | | |Maintain stock, supplies and inventories | | |take inventory | | |order groceries and supplies | | |mark prices on stock | | |restock shelves | | |Maintain accounts | | |record prices in the log book | | |operate the cash register | | |balance cash receipts | | |make deposits | | |record visa and debit accounts | | |maintain a manual general ledger | |Qualifications |Minimum 3 years of retail management experience. More ext ensive retail experience will be welcomed. Experience in | | |personal computer retail setting is preferred, but not mandatory. | |Must have an interest in fashion and have an eye for art. | | |Strong leadership skills. | | |Ability to effectively teach/develop others to next level. | | |Good merchandising skills and a flair for conceiving and implementing creative merchandising themes. | | |Strong operations experience in receiving, stock and inventory as well as front-end management and office management. | | |Ability to organize and prioritize multiple tasks in a fast-paced environment. | | |Strong interpersonal, motivational, communication and organizational skills. | |At least 25 years old | |Sewer – |Sewers cut, trim, sew and design clothing and accessories according to the company or client’s demand | |Responsibilities |Sew, trim and stitch gowns/suits and other tailored products. | | |Draw and design gowns/suits to present to the company or clients | | |Measur e client’s vital statistics that will use as a pattern for the clothes. | | |Sew gowns/suits using sewing machine or other stitching machines. | | |Inspect finished product and do finishing touches. | |Hand stitch edges or linings | | |Iron gowns/suits | |Qualifications |Must have taken vocational or short course in tailoring | | |Must have at least 3-5 years experience as a sewer or tailor | | |Knowledge in sewing, both hand and machine sewing | | |Knowledge and ability on different kinds of stitches and design | | |Knowledge in different kinds of cloths | | |Knowledge and ability to sew in different kinds of clothes. | | |Knowledge in fashion designing is a plus | | |Knowledge and ability to design wearable and appealing gowns/suits | | |Ability to use sewing machines. | |Pattern Cutter – |Pattern cutters create templates for the kinds of patterns that will be used in clothing lines, based on illustrated | | |designs created by the design department of the fashi on company. |Responsibilities |Cut fabrics or textiles | | |Adjust cutting techniques to types of fabrics and styles of garments. | | |Adjust machine controls, such as heating mechanisms, tensions, and/or speeds to produce specified products. | | |Inspect products to ensure that specifications are met and to determine whether machines require adjustment. | | |Operate machines to cut multiple layers of fabric into parts | |Qualifications |Must have an interest in fashion and have an eye for art. | |Must have good analytical skills | | |Must be computer literate | | |Must be able to work quickly | |Beader – |Beaders are responsible of putting beads and sequins on bridal gowns for accent. | |Responsibilities |Puts beads and sequins on gowns | | |Inspect products to ensure that specifications are met and to determine whether machines require adjustment. | |Qualifications |Must have an interest in fashion and have an eye for art. | |Preferably with 3 years experience in custom -made formal wear | | |With good moral character and working habit | Working Salaries and Benefits Below are the salaries and benefits of the employees. |PERSONNEL |PHILHEALTH |SSS |TOTAL | |Manager |P 301. 00 every quarter |P 225. 00 per month |P 9,030. 00 per month-based on minimum P 301. 0| | | | |daily | |Sewer |P 205. 00 every quarter |P 125. 00 per month |P 4,400. 00 per month | |Cutter | | | | |Beader | | | | |NOTE: |The sewers, cutters, and beaders are not based on minimum wages because they are not yet regulars. | Organizational Chart The organizational chart of Wedlock Trends shows the structure of an organization and the relationships and relative ranks of its parts and positions/jobs. As a starting business, Wedlock Trends involve few personnel/staff. The manager assumes the leadership roles within the company and will be responsible for the daily operation, over-seeing marketing efforts, buying merchandise, managing inventory and all other administrative duties. The other staffs will assist the owner with assisting the customers and the sewers, cutters, beaders to maintain the dress will be good quality to the customers. Gantt Chart Below is the calendar of activities of Wedlock Trends. OOperating Activities | |Activities | |Activities | |Particulars |Quantity |Price |Acquisition Value | |Bridal Fabric (local) |5 rolls |125/m |P 34,375. 00 | |Bridal Fabric (imported) |3 rolls |395/m |65,175. 00 | |Bridal Lace (local) |5 rolls |280/m |77,000. 00 | |Bridal Lace (imported) |3 rolls |550/m |90,750. 00 | |Pants/ Slacks Fabrics |5 rolls |145/m |39,875. 0 | |Dress/Gown (local) |5 rolls |55/m |15,125. 00 | |Dress/Gown (imported) |3 rolls |120/m |19,800. 00 | |Barong |5 rolls |108/m |29,700. 00 | |Tuxedo |5 rolls |125/m |34,375. 00 | |Buttons |5 kilos |250/k |1,250. 0 | |Beads and Sequins |5 kilos |300/k |1,500. 00 | |Embroidery Threads |5 boxes |360/b |1,800. 00 | |Embroidery Threads |4 boxes |1320/b |5,280. 00 | |Needle Book (kit) |5 boxes |6. 50 |32. 50 | |Sewing Thread |8 boxes |206. 5/b |1,651. 60 | |Zipper |8 rolls |33 |264. 00 | |Tape Measure |5pcs |4 |20. 00 | |Yard Stick |5pcs |22. 75 |113. 75 | |Garter |7 rolls |315/r |2,205. 00 | |TOTAL | |P 420, 291. 85 | | Office Materials | |Particular |Quantity |Price Per Unit |Acquisition Value | |Stapler |2 |P 120. 00 |P 240. 00 | |Scissors |3 |55. 00 |165. 00 | |Calculator |2 |390. 00 |780. 0 | |thumbtacks |4 |10. 00 |40. 00 | |TOTAL | | |P 1,225. 00 | |Office Supplies | |Particular |Quantity |Price Per Unit |Acquisition Value | |Long Coupon Bond |1 ream |P 168. 00 |P 168. 0 | |Short Coupon Bond |1 ream |158. 00 |158. 00 | |Pencils |15 pcs |6. 00 |90. 00 | |Pens |10 pcs |7. 00 |70. 00 | |Staples |5 boxes |15. 00 |75. 00 | |Folders |50 pcs |6. 00 |300. 0 | |Paper Clips |1 box |25. 00 |25. 00 | |Fastener |1box |35. 00 |35. 00 | |Record Book |1 pcs |89. 00 |89. 00 | |Binder Aids |1 box |32. 00 |32. 00 | |Adhesive tape |2pcs |22. 0 |44. 00 | |TOTAL | | |P 1,086. 00 | Machineries and Equipment |Machine | |Particulars |Quantity |Price |Life |Acquisition Value |Annual Depreciation | |Sewing Machine |3 |P 8,995. 00 |5 |P 26,985. 00 |P 5,397. 0 | |Embroidery Machine |2 |12,300. 00 |5 |24,600. 00 |4,920. 00 | |TOTAL | | | | |P 10,317. 00 | II – Equipment |Equipment | |Particular |Quantity |Price |Life |Acquisition Value |Annual Depreciation | |Computer Set |1 |P 25,000. 0 |5 |P 25,000. 00 |P 5,000. 00 | |Printer |1 |3,500. 00 |5 |3,500. 00 |700. 00 | |Air Conditioner |1 |14,000. 00 |5 |14,000. 00 |2,800. 00 | |Water Disp enser |1 |4,200. 00 |5 |4,200. 00 |840. 00 | |Body Form |6 |2,000. 00 |5 |12,000. 00 |2,400. 0 | |Working Table |1 |3,900. 00 |5 |3,900. 00 |780. 00 | |Steel Cabinet |1 |5,700 |5 |5,700. 00 |1,140. 00 | |Electric Iron |1 |690. 00 |- |690. 00 |- | |Ironing Board |1 |350. 00 |- |350. 00 |- | |Electric Fan |1 |1,300. 00 |- |1,300. 0 |- | |Clotheslines Stand |5 |1,299. 00 |- |6,495. 00 |- | |Dress Bag |100 |49. 00 |- |4,900. 00 |- | |Hangers |20 |74. 75/set |- |1,495. 00 |- | |Coat Hangers |50 |69. 75 |- |3,487. 00 |- | |Soft Broom |1 |45. 0 |- |45. 00 |- | |Trash Bin |1 |89. 50 |- |89. 50 |- | |Dust Pan |1 |25. 00 |- |35. 00 |- | |Pail |1 |115. 00 |- |115. 00 |- | |TOTAL | | | |P 87,301. 50 |P 13,630. 00 | Utilities Consumption Operating Expense | |Particulars |Amount | |Lease Payment |P 24,000. 00 | |Office Supplies |13,032. 00 | |Dress Shop Supplies |420,291. 85 | |Repair and Maintenance |144,000. 0 | |Electricity Utilities |5,786. 00 | |Telephone Utilities |11,988. 00 | |Water U tilities |6,000. 00 | |TOTAL |P 625,097. 85 | FINANCIAL STUDY Project Cost Summary Project Cost Summary | | |Amount | |Capital Expenditure | | | |Furniture and Fixture |P 45,880. 00 | | |Office Equipment |87,301. 50 |P 133,181. 50 | | | |Direct Expenditures | | | |Feasibility Study (preparation) |7,000. 0 | | |Survey |3,000. 00 | | |Partnership Expense |5,750. 00 | | |Permit and Licenses |1,725. 00 | | |Legal Fees |3,500. 00 | | |Insurance |3,500. 0 | | |Advertising Expense |1,930. 00 | | |Office Material |1,225. 00 |27,630. 00 | | | |Working Capital (1 month) | | | |Salaries |26,550. 0 | | |Light and Power | | | |Electric Bill (482. 25) | | | |Water Bill (500. 00) |982. 25 | | |Communication | | | |Telephone (999. 00) |999. 0 | | |Lease Payments |2,000. 00 | | |Repair and Maintenance |12,000. 00 | | |Office Supplies |13,032. 00 | | |Dress Shop Supplies |96,158. 77 |151,722. 02 | |TOTAL | |312,533. 2 | The total estimated Total Project Cost for WEDLOCK TRENDS is P312, 533. 5 2. |Wedlock Trend Dress Shoppe | |Projection Income Statement | |For the 1st year until 5th year | | |2014 |2015 |2016 |2017 |2018 | |Sales (sched. XI) |P1,754,400. 0 |P2,418,600. 00 |P2,891,040. 00 |P3,098,400. 00 |P3,576,000. 00 | |Direct Expense |27,630. 00 | | | | | |Salary (sched. VIII) |318,600. 00 |321,786. 00 |325,003. 86 |328,253. 90 |331,536. 44 | |Operating Expense (sched. XII)|625,077. 85 |643,830. 8 |663,145. 09 |683,039. 44 |703,530. 63 | |Depreciation (sched. I) | |20,806. 00 |20,806. 00 |20,806. 00 |20,806. 00 | |Earnings Before Income Tax |P 783,092. 15 |P1,432,177. 82 |P1,882,085. 05 |P2,066,300. 66 |P2,520,126. 93 | |Tax |274,082. 25 |501,262. 24 |658,729. 7 |723,205. 23 |882,044. 43 | |Net Income |P 509,009. 90 |P927,724. 56 |P1,223,355. 30 |P1,343,095. 43 |P1,638,082. 50 | | | |Assumptions = 3 % Operating Expense per annum | | | |1 % Salary per annum | Wedlock Trend Dress Shoppe | |Projection Cash Flows Statement | |For the 1st year until 5th year | |Cash Re ceipts |Pre-Operating |2014 |2015 |2016 |2017 |2018 | |Capt. Contribution |P 2,500,000. 00 | | | | | | |Sales (sched. XI) |- |P1,754,400. 0 |P2,418,600. 00 |P2,891,040. 00 |P3,098,400. 00 |P3,576,000. 00 | | | |TOTAL |P2, 500,000. 00 |P1,754,400. 00 |P2,418,600. 00 |P2,891,040. 00 |P3,098,400. 00 |P3,576,000. 00 | |Cash Disbursement | | | | | | | |Capital Expenditure |P 133,181. 0 | | | | | | |Direct Expense |27,630. 00 | | | | | | |Salary (sched. VIII) |- |318,600. 00 |321,786. 00 |325,003. 86 |328,253. 90 |331,536. 44 | |Operating Expense (sched. XII) |- |625,077. 85 |643,830. 8 |663,145. 09 |683,039. 44 |703,530. 63 | |Tax |- | |274,082. 25 |501,262. 24 |658,729. 77 |723,205. 23 | |Profit |- |P 509,009. 90 |P927,724. 56 |P1,223,355. 30 |P1,343,095. 43 |P1,638,082. 50 | |Total |P160,811. 50 |P1,452,687. 75 |P2,167,422. 99 |P2,712,796. 49 |P3,013,118. 4 |P3,396,354. 80 | |Net Cash Flow |P2,339,188. 50 |P 301,712. 25 |P 251,177. 01 |P 178,243. 51 |P 85,281. 46 |P 179,645. 20 | |Net Cash Flow Beg. |- |2,339,188. 50 |2,640,900. 75 |2,892,077. 76 |3,070,321. 27 |3,155,602. 73 | |Cash Balance Beg. |P2,339,188. 50 |P2,640,900. 75 |P2,892,077. 76 |P3,070,321. 27 |P3,155,602. 73 |P3,335,247. 93 | Wedlock Trend Dress Shoppe | |Project Balance Sheet | |For the 1st year until 5th year | | |2014 |2015 |2016 |2017 |2018 | |Asset | | | | | | |Cash |P2,640,900. 75 |P2,892,077. 76 |P3,070,321. 27 |P3,155,602. 73 |P3,335,247. 93 | |Furniture and Fixture |45,880. 00 |42,500. 00 |39,120. 00 |35,740. 00 |32,360. 00 | |(sched. I) | | | | | | |Equipment (sched. II) |87,301. 50 |66,684. 48 |49,288. 50 |31,862. 50 |11,436. 50 | |Total Assets |P 2,774,082. 25 |P 3,001,262. 24 |P3,158,729. 77 |P3,223,205. 23 |P3,382,044. 43 | | | |Liabilities Capital | |Capital |P 2,500,000. 0 |P 2,500,000. 00 |P 2,500,000. 00 |P 2,500,000. 00 |P 2,500,000. 00 | |Taxation |274,082. 25 |501,262. 24 |658,729. 77 |723,205. 23 |882,044. 43 | |TOTAL |P 2,774,082. 25 |P 3,001,262. 24 |P3,158,729. 77 |P3,223,205. 23 |P3,382,044. 43 | Wedlock Trends : 4 partners and Capital Contribution of each is : Partner 1; P 625, 000. 0 Partner 2; P 625, 000. 00 Partner 3; P 625, 000. 00 Partner 4; P 625, 000. 00 Ratio Analysis |Profitability | | | |Average Net Income |P1,128,253. 54 |41. 06% |The profit ratio is 41. 06%, means that for every peso of sales, there is | | | | |a net profit of P. 41. | Average Net Sale |P2,747,688. 00 | | | | | |Average Net Income |P1,128,253. 54 |45. 13% |The ratio is 45. 13%, means that for every peso of sales, there is a net | | | | |profit of P. 45. | |Owners Equity |P 2,500,000. 0 | | | | | |Average Net Profit |P1,128,253. 54 |36. 30% |The contribution of total assets to the net profit is 36. 30% for every | | | | |peso worth of asset it has a profit of P. 36. | |Average Total Asset |P 3,107,864. 8 | | | | | |Liquidity | | | |Average Current Asset |P3,006,830. 09 |494. 65% |The liquidity ratio is 494. 65% or a peso of current liability is | | | | |supported by P 4. 94 or 5 worth of the current assets | |Average Current Liabilities |P 607,864. 8 | | | | | |Pay Back Capital | | | |Parnership Capital |P 2,500,000. 00 |2. 22 |The capital can be recovered within 2 years of appreciation which is | | | | |favorable. | |Average Net Income |P1,128,253. 54 | | | Schedules Schedule I – Furniture and Fixture Furniture and Fixture | |Particular |Quantity |Price |Life |Acquisition Vale |Annual Depreciation | |Sofa Set |1 |P 28,895. 00 |5 |P 28,895. 00 |P 5,779. 00 | |Office Table w/ Chair |1 |7,700. 00 |5 |7,700. 00 |1540. 00 | |Full Length Mirror |1 |2,300. 00 |5 |2,300. 00 |460. 00 | |Full Length Mirror |2 |1,600. 0 |- |3,200. 00 |- | |Plastic Chair/Monobloc |6 |390. 00 |- |2,340. 00 |- | |Jacket Stand |1 |995. 00 |- |995. 00 |- | |Umbrella |1 |450. 00 |- |450. 00 |- | |TOTAL | | | |P45,880. 00 |P 7,779. 00 | Schedule II – Equipment Equipment How to cite Dress Shop, Essay examples

Child Abuse and Neglect In Australia

Question: Discuss about the Child Abuse and Neglect In Australia. Answer: Introduction It has been observed that the child abuse is becoming more prevalent in Australia. The main purpose of this paper is to discuss the child abuse. For addressing the discussion in a proper way it is anticipated that the historical perspective of the child neglect and child abuse are put as a subject and debated further. The various developments in the past twenty years have placed the child abuse on the top of the agenda. The various countries like Australia began to acknowledge the existence of the child abuse during the 1970s. There have been various mandatory laws that have been introduced in the various Australian Territories and States. Recently even the public awareness has been increased of the issues that are connected with the child neglect and child abuse. All these awareness are due to the increase in the newspaper coverage, radio and television.(Australian Institute of Health and Welfare., 2015) It has been explained in the first settlement in Australia Scott Swain that the definition of child abuse is always covered in normative and deviant context of the rearing practices of the child and it falls within the context of historical and cultural context. It has been estimated by Fabion Loh that there are one quarter of convicts until the 1820s and all were under the age of 18 years. It is a public and a social health problem as well as a childrens right issue in the countries like Australia. There can be adverse consequences of the neglect and the abuse of the child and the young people. Child abuse is very much prevalent in various countries like Australia and now it has become very easy to be spoken about and accept the social issue. (Beckett, 2003)There are useful frameworks provided by the Socio-economic factors but these are not complete. There has been mandatory reporting and the sharing of information in regards to child abuse these days. The government has also star ted taking various initiatives for its prevention and intervention. Historical Perspective The cruelty to the children has always been there the evidence of the mistreatment of the children through the hands of the adults has been described throughout the ages and across various societies. If we look back in to the history than according to Smith the children has always been maimed, killed, starved, neglected and abandoned with cruelty. It is very well said that the child neglect and abuse is not something unique in the 21st century. If we look back in to the history then we can find that the first wave of child protection movement had already arrived in Australia in the last decade of the nineteenth century when there was a realization on the part of people that something needs to be done for the protection of the children those who were being ill treated by various people that included their families.(Bromfield, 2004) Cradock (2013) outlines that there must be a distinction made between the early days of the child protection movement in the nineteenth century where the focus was on child saving of children from impoverished environments and what is now understood as more a pathological form of child abuser. The differing definitions of child abuse in all forms is further complicated by how to distinguish a child abuser from a non-abuser, as there is a wide range of services and professions each with differing knowledge and expertise along with the fundamentally political aspect of child protection services and funding restrictions that will always affect varied knowledge construction and resultant specialist practices (Cradock, 2013). The Australian Government defines child abuse as any kind of non accidental behavior by the parents, other adults, the caregivers or any other older person that is outside the norms of the conduct and further entails a risk of causing any kind of emotional or physical harm to the young person or the child. These behaviors may be intentional or un-intentional and can also include the act of omission like the commission or neglect.(CFCA Resource Sheet, 2005). It has been seen that the main indicator of the child abuse is poverty but poverty itself does not means that the child is at a risk of being abused. Basically the child abuse is one of the umbrellas that cover all the maltreatment that are suffered by the children at the hands of the other people. There has been a different variation in the form of legal and operational of child abuse in Australia due to which it is not very easy to provide a consistent data regarding the incidence of child abuse. The child abuse or maltreatment has been divided in to four main forms that include physical abuse, sexual abuse, neglect and emotional abuse.(Child Family Community Australia., 2012) Physical Abuse is a term that is defined as a non-accidental injury caused physically to a child and the physical abuse is considered to be one of the core forms of child abuse and maltreatment since the ages. The roots of the physical abuse include the physical punishments. It was noted by Radbill (1974:3) that there is a necessity of physical punishments to the children that are very severe for the maintenance of discipline, for pleasing certain gods, expelling evil spirits or transmitting the educational ideas. It has been written by Randbill these physical punishments have been given to the children since the early ages and there were also laws for the same. Though there were some people who use to speak out against the extreme physical punishment.(Holzer, 2008) There can be a physical injury that can occur from a single or a repeated episode. The physical injury may take the form of minor injury to the major form that is death.(Australian Bureau of Statistics, 2012) Neglect, the child neglect became a social concern after the industrial revolution throughout the western world. There were many orphanages, factories and work houses where the children work as the laborers.(Bacon, 2001) The children here were kept as slave labor as the demands for the services of the children were growing by the development of the industrial revolution in the late 19th century. Under these areas the children as young as 5 years used to work for 16 hours a day , were beaten and were also starved due to which they suffered variety of illnesses. The various concerns for the neglected and abandoned children resulted for the formation of the first child protection society and child rescue that resulted in the enactment of the first legislation that was designed to protect the children. Infanticide, when the physical abuse and neglect are taken to its extremes than it results in exposure and infanticide and these are the universal forms of fatal child abuse that has been practiced through the centuries. In the rural Europe until 1980s there were basically the girls who were in particular to the risk of death and being sold.(Baer, 2006) Sexual Abuse, it is basically the use of the child be it a male or a female for sexual gratification by an adult or an older child, it has been occurring throughout the history. The sexual abuse use to take place in the families it self when in the late 16th century various legislations were enacted in England due to which the children were being protected from the sexual abuse. With the passage of time many educators started taking initiative of warning the parents of keeping an eye on the children all the time and keeping it ensured that the children were never naked in front of the other adults so that the children could be protected from the sexual abuse.(Brewerton, 2007) Emotional abuse, it is also known as psychological maltreatment. It is a verbal abuse or harassment to a child by an adult with a main aim of damaging the confidence level and the self esteem of the child. There is no physical injury left by the emotional abuse due to which it is the most common form of hidden maltreatment. There are different forms of maltreatment in the case of emotional abuse at different rates and cultures.(Brodsky, 2008) Prevalence According to the various researches it has been found out that there were around 49,721 cases of child abuse in Australia during the year 1990-91 that were investigated by the territory welfare department and the state. Approximately forty five percent of the cases were substantiated and around seven percent were assessed. There has been a continuous awareness rather than an increase in the children that are being neglected and abused ever since the statics has been kept by the State Welfare Departments.(Bromfield L. ., 2005) This can be due to the awareness in the greater parts of the community. There have been various educational and legislative changes that are being adopted to look in to the matter of child abuse. Mandatory reporting and other preventive measures Mandatory reporting means the general laws that are passed by the parliament and the other designated officer that requires the various other designated officers to report the cases that are suspected and known in relation to the child abuse that further includes the sexual abuse. These reports of the suspected or the known cases shall be made to the various government authorities. The mandatory reporting laws are distinct from the various other industry based obligations and legal laws that are related to the criminal conduct and other types of misconduct. The people who are covered under this law for the purpose of reporting includes the people who deal with the children in the course of their work and include doctors, nurses, police and teachers and the people who at any time encounter the cases of child abuse shall report these cases to the child welfare agencies. In the 21st century it has become very important that there shall be reporting mechanisms and the information shall b e shared from time to time by various agencies so that a more comprehensive picture is being enabled about the children that are being at risk of being abused and further appropriate and timely actions can be taken. All these needs of information sharing has led to the coming up of the mandatory reporting and preventive measures.(Coohey, 2011) The child sexual abuse has become very common fact these days due to which the government has chosen various mandatory reporting laws for measuring the social policy, crime prevention and the public health. The annual incidence that was recorded by the government officially and the various child protection agencies in the countries like Australia ha been quite stable in the past eight years and has been recorded to be between 3400 and 4800 Australian children being abused annually from the year 2004 to 2013.(Cook, 2005) However it has been seen that the real incidence that has been recorded is far being higher than the recorded. It has been founded by the research of recent global review that highest amount of girls are being abused in the countries like Australia. It has been noted that various reasons arise for the gap between the real incidences and the official incidences. One of the most prominent reasons that have been noted for this gap is that there are many cases that has no t been reported or investigated by the various authorities of the government.(Cyr, 2010) There are various adverse consequences that are suffered by the children who are being sexually abused though it has been found that the severity of the consequences might vary from the individual to individual. These consequences might lead to physical injury to mental or psychological injury along with the negative effects on the socialization and behavior of the children. The main and the immediate consequences of this include stress, traumatic disorder, low self esteem and depression. It has been found by the various researches that there is high suicide rates and accidental fatal drug overdose in the case of the children who are the victims of the sexual abuse. (Dubowitz, 2007)There is an emotional abuse when the child is being abused sexually and it also has severe consequences. Child Physical abuse: A battered Child syndrome One of the first reporting laws that were used for the welfare of the child abuse was the work of Colorado pediatrician that included C Henry Kempe along with his various colleagues those who were indulged in the identification of the cases of the child abuse and they conceptualize it as a battered child syndrome.(Edidin, 2012) The Battered Child syndrome was defined by Kempe as a term that is used to categories a condition that is clinical in the children who are young and have received serious abuse in the form of physical abuse and is a cause of death and childhood disability .This problem can occur at any age but generally the affected children includes the children who are younger than 3 years of age. (English, 2004) Overview of the developments in Australia It has been researched that there has been first Australian laws for reporting the cases of child abuse in the late 1960s and early 1970s. The first law that is the Australian Mandatory reporting law came in to being in 1969 in South Australia.(Evans, 2005) It has been consistently supported by the Australian government that the Australian mandatory laws are very necessary component for the social policy and they respond to the child sexual abuse. The examples of this include: The Layton Review in South Australia in the year 2003 The wood enquiry in the year 2008 in New south Wales The Cummins, Scales and Scott inquiry in Victoria in the year 2012 Conclusion It has been concluded from the various researches that the child abuse has been becoming more prevalent in Australia. There are wide ranges of consequences that are faced by the children who are being abused sexually or physically. Though there have been various preventive measures that are being taken by the government to overcome this issue and look in to the matter. (Flaherty, 2009)It is the responsibility of the Australian government to protect the children from being abused and this issue cannot be ignored at all. There shall be effective child abuse prevention that can also be developed from the family that is strong and has a service base. Along with the government it is the responsibility of the guardian and the family to keep a vigilant eye on the children and protect them from being abused. The government t, community and the individuals shall work in conjunction to eliminate this issue from the society and keep the students safe protected and happy so that they enjoy their childhood freely rather than being abused. Bibliography Australian Bureau of Statistics. (2012). Census of population and housing: Estimating homelessness. Australian Institute of Health and Welfare. (2015). Australian Institute of Health and Welfare. Retrieved October 8, 2016, from Child protection Australia 2013-14.: www.aihw.gov.au/publication-detail/?id=60129550762 Bacon, H. . (2001). Attachment theory and child abuse: An overview of the literature for practitioners. London. Baer, J. C. (2006). Child maltreatment and insecure attachment: A meta-analysis. ournal of Reproductive and Infant Psychology, , 187-197. Beckett, C. (2003). Child protection: An introduction. . London: SAGE Publications. Brewerton, T. (2007). Eating disorders, trauma, and comorbidity: Focus on PTSD. Eating Disorders, . Brodsky, B. . (2008). Adverse childhood experiences and suicidal behavior. Bromfield, L. . (2005). Child Abuse Prevention Issues No. 22. Retrieved October 8, 2016, from www.aifs.gov.au/nch/pubs/issues/?issues22/issues22.html Bromfield, L. M. (2004). The limitations of using statutory child protection data for research into child maltreatment. Australian Social Work. CFCA Resource Sheet. (2005). Abuse. Christoffel. Child Family Community Australia. (2012). What is child abuse and neglect? Melbourne: Australian Institute of Family Studies. Retrieved October 8, 2016, from What is child abuse and neglect? Melbourne: Australian Institute of Family Studies: www.aifs.gov.au/cfca/publications/what-child-abuse-and-neglect Coohey, C. R. (2011). Academic achievement despite child maltreatment: A longitudinal study. Child Abuse Neglect,. Cook, A. S. (2005). Complex trauma in children and adolescents. Psychiatric Annals,. Psychiatric Annals, , 390-398. Cyr, C. E.-K. (2010). Attachment security and disorganization in maltreating and high-risk families: A series of meta-analyses. Development and Psychopathology,. 87-108. Dubowitz, H. . (2007). Physical abuse and neglect in children. The Lancet, , 1891-1899. Edidin, J. P. (2012). The mental and physical health of homeless youth: A literature review. . Child Psychiatry and Human Development , 354-375. English, D. W. (2004). Another look at the effects of child abuse. ational Institute of Justice Journal, , 251, 23-24. Evans, E. H. (2005). Suicidal phenomena and abuse in adolescents: A review of epidemiological studies. . 29(1), 45-58. Flaherty, E. T. (2009). Adverse childhood exposures and reported child health at age 12. Academic Pediatrics, 9(3), 150-156. Holzer, P. J. (2008). NCPASS comparability of child protection data: Project report. . Melbourne.

Steve Jobs Research Paper Example

Steve Jobs Paper Steve Jobs Personality Steven Paul Steve Jobs (1 953 201 1) American entrepreneur, marketer, and inventor, who was the co-founder, chairman, and CEO of Apple Inc. Recognized as a charismatic pioneer of the personal computer revolution and for his influential career in the computer and consumer electronics fields, transforming one industry after another, from computers and smartphones to music and movies. Co-founded and served as chief executive of Pixar Animation Studios. He became a member of the board of rectors of The Walt Disney Company In 2006.   As the CEO of the company. Jobs oversaw the development of the IMac. iTunes, iPod, IPhone, and iPad, and on the services side, the companys Apple Retail Stores. ITunes Store and the App Store. He died of respiratory arrest related to his tumor on October 5, 2011 (he had a   The market value of Apples shares has grown pancreas neuroendocrine tumor). from about $1JS5 billion in 2000 to SUS351 billion (2011) making it one of the biggest publicly listed companies in the US. Jobs transformed personal computers, telephones. even retail stores. among others†and he would have probably taken on television, if he had lived long enough. CBS 60 Minutes. [picl Steve Jobs is a perfect example of a person who intuitively understood the power of user-centered design, From the very beginning, he made sure that Apple employed people Who were tasked to advocate for the Customer _ In the early 1980s this had never been heard Of. Steve Jobs understood that a company would better serve its customers, if they were listened to. We will write a custom essay sample on Steve Jobs specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Steve Jobs specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Steve Jobs specifically for you FOR ONLY $16.38 $13.9/page Hire Writer His innovative work related directly to the rise Of an awareness Of usability. Jobs knew that a product or service is only successful hen it meets the needs of the users, making their lives easier and more enjoyable. There are conflicting stories of whether he was a true supporter of the methodology of user-centered design, but there is clear agreement that he knew ho. to figure out what users needed and wanted. Steve Jobs showed us what it was like to Inspire people, live a dream. In June 2005, Jobs gave the Commencement address at Stanford University: When I was 17. I read a quote that went something like: If you live each day as f It was your last, someday youll most certainly be right. It made an impression on me, nd since then, for the past 33 years, have looked in the mirror every morning and asked myself: If today were the last day of my life, would I want to do what I am about to do today? And whenever the answer has been No for too many days in a rcn. , I He did it by following a trail led by his passion for innovation. Leadership Theory Steve Jobs fits best with the Trait Theory. The main believe of Trait Theories are that they can develop through experience and learning. As a matter of fact that Apple is well-known as learning and innovative company due to Steve Jobs management style. Jobs has faced a lot of different market situations along with his career and almost in all he has succeeded. Jobs possess a vision, willingness to take personal risks to achieve that vision, sensitivity to follower needs, intelligence, self-confidence, level of energy and activity as well as task-relevant knowledge. Firstly, the vision of Apple is to focus on software rather than hardware; at the point when he has delivered music to online consumers he set out to develop the best customer experience. Moreover, Apple took many risks to achieve their vision and goals. Cooperating with is rival Bill Gates is a good example of that (the deal was Gates supply Apple with Office, Internet Explorer programs, and purchase 150 million dollars of Apples stock. Though this deal was good for Microsoft, it was even better for Apple) and as result, Apple was no longer a competition for Microsoft. The production of iPod was also a risky game. Jobs pushed his managers and the engineer team for innovative thinking, which was a huge challenge for everyone.Thirdly, Steve was self- confident. The fact that he created a video-editing program even without the help of Adobe shows his trait very good. l am convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance Steve Jobs, in 1995. My Job is not be easy on people, but to make them better.   Participative leadership While some found his management style caustic, he also developed loyalty from many team members. You need a lot more than vision † you need a stubbornness, tenacity, belief and patience to stay the course, said Edwin Catmull, co-founder of Pixar. In Steves case, he pushes right to the edge, to try to make the next big step orward. Jobs emphasized the importance of teamwork to his employees. Though he made the final decision on product designs, he knew that the right people would be a companys greatest asset. Thats how I see business, he said. Great things in business are never done by one person; theyre done by a team of people. According to Jobs work mantra and ethic, innovation is what distinguishes a leader and a follower. Some people arent used to an environment where excellence is expected. Thanks to Jobs expectation of high quality, almost every product hes turned out has een a huge success among consumers and businesses. One of the greatest business strategists of all times He was a high-maintenance co-worker who demanded excellence from his staff and was known for his blunt delivery of criticism. But it was his sheer genius combined with his ability to articulate his vision and bring staff, investors and customers along on the Journey plus the lessons learned in a major career setback that made it work. The results: indisputable. A visionary is how he is most often described in relation to Apple, the company he founded with high school buddy Steve Wozniak in 976. Also described as a high-maintenance co-worker who labelled people who didnt impress him as bozos. We have an environment where excellence is really expected, Jobs said in an interview in 1983. Whats really great is to be open when [the work] is not great. My best contribution is not settling for anything but really good stuff, in all the details. Thats my Job, to make sure everything is great. Employees were recruited into the company as specialists and put into roles that made the most of their specific strengths and abilities. Turnover was low despite the emanding corporate culture Jobs was a passionate advocate for his vision and incredibly effective at communicating this to shareholders, customers and staff. People Join and stay because they believe in the mission of the company, even if they arent personally happy. Steve Jobs quotes Being the richest man in the cemetery doesnt matter to me. Going to bed at night saying weve done something wonderful† thats what matters to me. Sometimes when you innovate, you make mistakes. It is best to admit them quickly, and get on with improving your other innovations. Your time is limited, so dont waste it living omeone elses life. Dont be trapped by dogma† which is living with the results of other peoples thinking. Dont let the noise of others opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. Technology is nothing. Whats important is that you have a faith in people, that theyre basically good and smart, and if you give them tools, theyll do wonderful things with them. Charity work In his lifetime, Steve Jobs was roundly criticized for seemingly not donating enough money to philanthropic causes. However, it has been revealed recently that the late ounder of Apple and his wife, quietly made large donations to charity: Jobs donated $50million to Stanford hospitals. Funded HIV and AIDS research   Powell Jobs (Steve Jobs wife) founded College Track, a college preparation organization, in 1997, and she has been sponsoring the group ever since. Every year, the award-winning animation studio Pixar, which Mr Jobs helped launch, hosts a screening of a film to raise money for College Track, suggesting that the family have been doing charity work behind the scenes. But Jobs never addressed his philanthropic endeavors and refused to discuss the subject even with his biographer.

heart mechanics essays

heart mechanics essays The purpose of this experiment was to subject a rat cardiac muscle to different physiological situations and determine their effect on the twitch force and duration. Force-frequency relation show a positive trend suggesting that as frequency of stimulation increases (for the range of 0.2-0.8 Hz), the force increases. Also the extra cellular calcium concentration effects on the peak force were measured, showed an increasing trend when the [Ca2+ ]o was incrementally increased from 0.2 to 3mmolL-1. The rat cardiac muscle was also subjected to cardiac glycoside such as ouabain, which resulted in an increase in the diastolic force, inotropic agents such as isoprenaline, which increased the velocity of contractility, and finally the effects of caffeine were considered. We were provided with a ventricular strip of a rat heart muscle; it had the dimensions of (~20mm resting length, 5mm wide and 1mm thick). The strip was embedded in an oxygenated 1.5mM Ca2+ Tyrode solution (constant PH=7.4) with constant O2 partial pressure of oxygen is 760 mmHg, because the cell needs oxygen in order to survive, the strip mounted using threads to a force transducer and a stimulator (REF1), these were connected to power LAB (amplifier) which was connected to a computer, the Chart software was used to record the data. Note that the temperature the experiment was performed at was 14 C, and specimen was field stimulate at a voltage of 60V in order to make the whole muscle contract. Field stimulation is the stimulation of the specimen through a medium, so that the whole tissue is electrically stimulated, point stimulation is stimulating a single muscle cell. Measurements of frequency-force relation: We applied different stimulus frequencies to the muscle (ranges 0.1-0.8 Hz) and recorded the force response, each frequency stimulated the muscle for a short period of time (around 1 minute) until the force response seemed to be steady then 1 twitch was re...

Definition of Embodiment in Patents

Definition of Embodiment in Patents Embodiment by definition is a manner in which an invention can be made, used, practiced or expressed. Embodiment in Patent Applications The phrase embodiment will be in your patent application, as part of the legalese used. In a patent application, the specification will include descriptions of the preferred embodiments. If you read a patent you will often see a section headlined DESCRIPTION OF THE PREFERRED EMBODIMENT. You will often refer to some aspect of your invention as an embodiment in descriptions. Looking at examples of how the word is used should make what it means and how to use the word clearer. Examples The following examples are more fully described in the first link box below. DESCRIPTION OF THE PREFERRED EMBODIMENTFIG. 1 is a partial sectional view of a Halloween mask with a flash device in accordance with a preferred embodiment of the present invention.FIG. 1 is a front pictorial perspective view of a wireless telephone constructed in accordance with an embodiment the present invention;

Persuasive synthesis Research Paper Example | Topics and Well Written Essays - 1500 words - 1

Persuasive synthesis - Research Paper Example However, it is possible to treat and cure cancer when discovered during its early stages through chemotherapy. This scientific process uses radioactive rays to kill the cancerous tumors that form part of the cancer. There are several types of cancer; these include breast cancer, prostate cancer, and vaginal cancer. Nowadays cancer has become the most deadly disease in the world, attributed to causing deaths of several notable figures in the world, e.g. Steve Jobs, founder and CEO of Apple Company. The relatives of these people suffer from various challenges. This is because the thought of their suffering relative really paints a negative impact in their physical, emotional, and mental status, thereby causing them a lot of pain (Ronda, Talley, McCorkle and Baile). The patient requires total attention from their relatives. This is because the cancerous cells usually eat up his body and mind leaving him weak both physically and psychologically. Therefore, the relatives have to come around to fill this void by being there for their sick relative. They have to spend a lot of time attending to them. This means they must shelve all their other engagements in order to be with the patient at the hour of need. This is in itself suffering because it denies them an opportunity to pursue other matters. In addition to being there for the patients, the relatives may sometimes lack sleep because they have to stay awake to keep the Patient Company especially if they have no sleep due to extreme pain or extreme depression. (Ronda, Talley, McCorkle and Baile). Furthermore, since they cannot nurse their patient away from home, they have to complete all scheduled work outside their homes. This is to allow them ample time to attend to the patient when they get back home. The emotional pain they encounter comes from their desire to satisfy the patient, who in most cases has lost all the hope in life. They have to make him feel important and loved so that they can give

Design of a Research Project Paper Example | Topics and Well Written Essays - 1000 words

Design of a Project - Research Paper Example This makes them costly as the manufacturing process includes removal of impurities. The spherical solar cells are silicon spherical cells that are repeatedly melted and fused with low-purity metals. The spheres are made by using the surface tension in a zero-gravity environment. This makes them relatively expensive to produce. However research has suggested that the spherical solar cells have certain benefits over the simple planar cells. The most important of these advantages include the spherical directivity of such cells. Because of the spherical nature of the cells, there is no directivity of light in case of spherical solar cells and lights from all directions including reflected and scattered light (Nakata, 2001). However there has been no quantitative analysis of this proposition. This paper aims at doing the same. The light-receiving characteristics of a spherical solar cell will be evaluated through a geometrical model. This will include the analysis of the characteristics of the light receiving properties of spherical solar cells, along with a comparison of the planar cells. Based on the comparison, advantages and disadvantages of each type will be evaluated. As can be seen from the figure 3, L1 is incident perpendicularly to the surface while L2 does not strike the surface in a perpendicular fashion. Since a unit cell is having a very small effective area, every point on the cell will have directivity with respect to the incident light. On the basis of this, the effective area of the entire cell can be calculated: Based on the available literature, and the model described, it can be assumed that there is no directivity in unit cells. The author also expects that the power generated in spherical cells is much more than simple planar cells. The author expects to conduct experiment trails to validate these assumptions. Based on the theoretical framework described above, the methodology will try to assess the effective area of

Oil, War and U.S. Foreign Policy. Essay Example for Free

Oil, War and U.S. Foreign Policy. Essay The war against Iran by the Anglo-American powers has been in planning since 1990s as part of their Greater Middle East strategy. A number of sources have recently reported plans by the Iranian government to institute a Tehran oil bourse and this might be the hidden agenda behind the evident march to war by the Anglo-American powers on Iran. The oil bourse argument is a red herring which diverts the attention of people from the real geopolitical grounds which is behind the real motive for the march to the war which is a high risk game on the nuclear weapon. In 1996, two neo-conservatives, Douglas Feith and Richard Perle who later played an important role in the formulation of the Pentagon policy in the Middle East under the Bush administration authored a paper which was presented to the elected Israeli Prime Minister Benjamin Netanyahu. The advisory paper, â€Å"A Clean Break: A New Strategy for Securing the Realm†, had the intention of making Netanyahu to make â€Å"a clean break from the peace process†. Feith and Perle also demanded Netanyahu to strengthen the defense of Israel against Syria and Iraq and to attack Iran as the prop for Syria. More than a year before the declaration of the former US president George W Bush of his â€Å"shock and awe† operations against Iraq, he made his January 2002 State of the Union address which is now infamous to the Congress in which he Iran, together with North Korea and Iraq as members of the â€Å"axis of evil† trio. This occurred before anybody in Tehran had even considered establishing an oil bourse in trading oil in various currencies. According to Engdahl, the US believed that the Tehran oil bourse would be the casus belli, which would trigger the pushing of Washington down the road to the potentiality of annihilation of Iran, which seems to be based on the notion that trading on oil openly to other nations in other currencies would make Tehran set in to motion a chain of events in which buyer after buyer, nation after nation, would come to buy oil no longer in US dollars but in euros. This in turn according to an argument, would lead to a panic in selling of the US dollars on the world foreign exchange markets and also lead to the collapse of the role of the US dollar as the reserve currency, which is one of the pillars of the â€Å"US Empire†. According to Engdahl in his book, A Century of War, the creation of â€Å"petrodollar recycling† in 1974, which is a process where the by then US secretary of state Henry Kissinger was deeply involved, led to oil price hike of 400% and this was orchestrated by the Organization of Petroleum Exporting Countries (OPEC). Engdahl puts it that US dollar did not manage to become a â€Å"petrodollar† even though Kissinger emphasized the process of â€Å"recycling petrodollar†. According to the author, what Kissinger was referring to was the initiation of a new phase of global hegemony of US in which the export earnings from the petrodollar of OPEC oils lands would be recycled back to the hands of the major London and New York banks and later re-lent in the form of US dollars to other nations which are deficient in oil such as Argentina and Brazil and this led to the creation of what was soon to be known as the Latin America debt crisis. By this time, the US dollar had been a fiat issue since August 1971 following the abrogation of the Bretton Woods Treaty and refusal by the then US president Richard Nixon to redeem US dollars which were held in foreign central banks for gold. Due to the 400% increase in oil prices, nations such as Germany, France, and Japan suddenly had the reason to buy oil in their own currencies with the aim of lessening the pressure on their reserves of trade dollars which was rapidly declining. This led to the coming up of the Pentagon and US treaty partly with their secret diplomacy by Kissinger through bullying threats According to Engdahl, the US military were sent to Afghanistan for two main reasons; the first reason was to restore and control the world’s largest supplier of opium in the world while at the same time use the drugs as a geopolitical weapon against their opponents especially Russia. The control of the drug market is an essential ingredient for the liquidity of the corrupt and bankrupt Wall Street financial market. U. S. Military and CIA Interventions in the Middle-East. Blom traces the origin of the current conflict from the brutal 1980-88 war which was between Iran and Iraq. At the time of the war, Kuwait was busy stealing oil from the Iraqi territory which was worth more than $2. 4 billion of oil. Soon after the battle, United Emirates and Kuwait started to exceed the production quotas that had been established by OPEC and this led to flooding in the oil market leading to a reduction on oil prices. This led Iraq to become deeply in debt and the then president Saddam Hussein declared this policy a threat to hi country by pointing out that Iraq was loosing billions of dollars each year due to the drop in oil prices. In an attempt to offset these loses, Saddam decided to gain possession of the two Gulf islands which were blocking Iraq from ownership of Rumaila oilfield. Kuwait continued to ignore Iraq’s territorial and financial demands and the OPEC’s request to follow the quota system and this led to Iraq to form large number of troops who were posted along the Kuwait border. This led to the intervention of the US who viewed themselves as the world’s supper power. After Iraq attacked Kuwait, US came to the defense of Kuwait by declaring that their interest was in protecting nations with whom they had longstanding and deep ties while at the same time, The White House declared their concern about the buildup of troops by Iraq. According to the author, United States had an official position on the Kuwait-Iraq border dispute. This is evident from the official statement that were found by the Iraqis in some of the Kuwait intelligence files which was a memorandum concerning a meeting between the CIA Director William Webster and Kuwait state security in November 1989. in the document, there was an agreement between the Americans and Kuwait that it was of great importance to take advantage of the deteriorating economic situation in Iraq with the aim of putting pressure on Iraq’ government so as to delineate their common borders. It is evident that US was involved from the beginning and advised Kuwait to apply pressure on Iraq so as destabilize the country economically. The CIA later denied these allegations saying that it was a fabrication. Blum puts it that the US has been behind the Kurdish’ slaughter of many innocent citizens and also encouraged the Shiite Muslims in Iraq to rebel. All these were done in an attempt to incite Saddam so that he could incite a coup which would result in to the intervention of the United States. The killings in the Persian Gulf by the American soldiers have been due to a voice command from George Herbert Walker Bush according Blum. The United States started supporting Afghan Islamic fundamentalists in 1979 in their bid to fight the Soviet Union. The US continued with their support despite the kidnapping of American ambassador in the capital city of Kabul in February 1979. American intervention according to Blom had some hidden agenda. The US was using lies and tricks to gain influence of Iraq so as to control the oil prices. In both cases, the authors recognize the use the use of tricks by the US government to make the Middle East unstable. Both the authors share a common view on the idea behind the control of Middle East affairs. In both cases, the authors acknowledge the use of military force in the wars in the Middle East and in both cases, it appears that US is the main cause of all these wars. The aim of the United States according to the two authors is to take control of the rich oil nations and make sure that they continue to price and sell oil in US dollars. They both acknowledge the pretence of the US to send their military force in these countries with the aim of restoring peace while in the real sense; the US is after establishing permanent military base in places such as Iraq so that they can control the resources of these countries. Under the Bush administration, there was a severe military attack in Iraq with the aim of removing Saddam from power with the pretence that he was behind manufacturing of nuclear weapons. After the attack, it became apparently clear that such a thing never existed in Iraq. Bush was only accomplishing a war that was started by his father against Saddam who had refused to consent to the demands of the United States. The Use of Torture in Iraq and Afghanistan. A lot has been said regarding what lies behind the shocking images of torture at Abu Ghraib which were released in 2004. many American were shocked by such images and novel with the exception of one American; Alfred McCoy who had been following the operations of the Central Intelligence Agency since the early 1970s, when the agency tried unsuccessfully to stop the publication of his book, The Politics of Heroin: CIA Complicity in the Global Drug Trade. McCoy had long been conducting study on the pioneering research by the CIA in to the methods of psychological torture. He writes that the CIA had started this project in the early 1950s with their initial study on the Chinese and Soviet methods of breaking and interrogating prisoners. The author has a negative image regarding the torture policies that America has used in the last decades. The CIA’s discovery of Psychological torture had its breakthrough in the 17th century. This was in contrast to the physical approach which they saw most of the times produced unreliable information or heightened resistance. Under the new psychological paradigm introduced by the CIA, the interrogators used two essential techniques; self-inflicted pain or disorientation so as to make the victims feel responsibility of their own suffering. The first stage of psychological torture involves the use of non-violent methods to by the interrogator to disorientate the subject. After disorientating the subject, the second stage involves simple self inflicted discomforts which may be in form of standing for many hours with the arms in extended position. Although psychological torture is less brutal due to the fact that there is no touch, the torture leaves both the interrogator and the victim with deep psychological scars. Victims normally require long-term treatment in order to recover from the trauma far much more than the physical pain. On the part of the interrogator, they may suffer from dangerous expansion of ego which may eventually lead to escalating cruelty and lasting emotional problems. According to McCoy, torture was conducted by the CIA directly and also indirectly through outsourcing. The use of torture is against humanity since it involves forcing the subject to confess in criminal cases with the assumption that they are guilty prior to trail. The CIA also used this method to serve as a deterrent to other potential offenders. According to the author, torture did less in bringing any trustworthy information or truthful confession neither did it prevent other people from breaking the law in any significant way. Following the September 11 bombing of the Twin Towers in the US, the administration of the former President George W. Bush allowed US intelligence service and the military to use torture as the only means to â€Å"quickly obtain information†. They did this by creating a category of prisoners who they claimed fall outside the protection by any treaty or law obligations and are deemed to be tortured. According to the CIA, they argue that this policy which considered the most abusive approach to interrogation is the most efficient and effective quick way to get information that is accurate and useful. From McCoy’s book, he clearly puts it that torture is always not a good way of producing reliable information. The experience from Colonel John Rothrock, who was heading a combat interrogation team in Vietnam, reported that â€Å"he doesn’t know any professional intelligence officers of my generation who would think this [torture] is a good idea,† but the US under the Bush administration failed to listen and this led to death of many innocent people in the name of state security. These torture cases were concealed from the general public and the Congress when CIA was busy for the past half of the century developing and applying a sophisticated form of psychological torture which were meant to go against investigation, prohibition or prosecution and this made it very successful. Americans have found themselves have found themselves in six separate accounts of this same moral quagmire in the last 50 years period. The first was the exposure of the CIA sponsored torture which took place in South Vietnam in 1970, Iran in 1978, Brazil in 1974, Honduras in 1988, and the cases in Iran and Iraq. Each of these cases was exposed at different times and as each case fades, the agency resumes with their lethal work in the shadows. The role of torture in the geopolitics of the Middle East is to divert attention on the real issue. While the CIA was busy torturing prisoners in Afghanistan and Iraq, they were at the same time busy exporting opium to other countries. The use of torture was also a means of making sure that no information was leaked to the public. Another role that torture play is to make the subject confess to what the interrogator expects them to do. Also the use of torture by the CIA was to make people from Middle East to desist from any corporation with those who could get in to their secret conducts in these countries. An example is when McCoy was doing a research for his book in the mountains of Laos; a group of CIA machineries attempted to kill him and even threatened his translator to stop working for him. While these were happening, the CIA was secretly transporting opium using Air America helicopters to South Vietnam. Use of torture helped the American’s to exert great influence in the Middle East as those who experienced the tortures gave their experiences once they were out of the prison. The psychological damage was so much that the victims could not become normal again. This coupled with the killings of many people during the war led to weakening of these nations such that American control of oil and drugs like opium could be easy. All these acts were conducted with the aim of building an â€Å"American Empire†. Works Cited. Alfred McCoy. A Question of Torture: CIA Interrogation, from the Cold War to the War on Terror (American Empire Project).

Cuba :: essays research papers

Cuba   Ã‚  Ã‚  Ã‚  Ã‚  Cuba is the largest island of the West Indies, lying south of Florida and east of Mexico's Yucatà ¡n Peninsula. The Republic of Cuba is combined with the surrounding islands. On the East, Cuba is separated from the island of Hispaniola by the Windward Passage. The U.S. maintains a naval base at Guantà ¡ namo Bay in the Southeast. The capital and largest city of Cuba is Havana.   Ã‚  Ã‚  Ã‚  Ã‚  The island extends about 760 miles from Cabo de San Antonio to Cabo Maisà ­ , the western and eastern extremities. The average width is about 50 miles. The total area is 44,218 square miles including the area of the Isla de la Juventud (Isle of Youth) and of other islands of the country. Land and Resources   Ã‚  Ã‚  Ã‚  Ã‚  About 1/4 of the surface of Cuba is hilly, the remaining consists of flat or rolling terrain. The hilly areas are scattered throughout the island and do not come from a central mass. The main 3 ranges are the Sierra de Trinidad in the central part of the island, the Sierra Maestra, in the Southeast, and Sierra de los Órganos in the West. The first two ranges are under 3000 feet. The Sierra Maestra, has the greatest in altitude and mass, and contains Pico Turquino (6561 ft), the highest point in Cuba. Most of the soil of Cuba is relatively fertile.   Ã‚  Ã‚  Ã‚  Ã‚  One of the natural features of the island is the large number of limestone caverns. Most of the many rivers of Cuba are short and unnavigable. The main river is the Cauto, located in the Southeast. The coast of Cuba is very irregular and is indented by numerous gulfs and bays. Cuba :: essays research papers Cuba   Ã‚  Ã‚  Ã‚  Ã‚  Cuba is the largest island of the West Indies, lying south of Florida and east of Mexico's Yucatà ¡n Peninsula. The Republic of Cuba is combined with the surrounding islands. On the East, Cuba is separated from the island of Hispaniola by the Windward Passage. The U.S. maintains a naval base at Guantà ¡ namo Bay in the Southeast. The capital and largest city of Cuba is Havana.   Ã‚  Ã‚  Ã‚  Ã‚  The island extends about 760 miles from Cabo de San Antonio to Cabo Maisà ­ , the western and eastern extremities. The average width is about 50 miles. The total area is 44,218 square miles including the area of the Isla de la Juventud (Isle of Youth) and of other islands of the country. Land and Resources   Ã‚  Ã‚  Ã‚  Ã‚  About 1/4 of the surface of Cuba is hilly, the remaining consists of flat or rolling terrain. The hilly areas are scattered throughout the island and do not come from a central mass. The main 3 ranges are the Sierra de Trinidad in the central part of the island, the Sierra Maestra, in the Southeast, and Sierra de los Órganos in the West. The first two ranges are under 3000 feet. The Sierra Maestra, has the greatest in altitude and mass, and contains Pico Turquino (6561 ft), the highest point in Cuba. Most of the soil of Cuba is relatively fertile.   Ã‚  Ã‚  Ã‚  Ã‚  One of the natural features of the island is the large number of limestone caverns. Most of the many rivers of Cuba are short and unnavigable. The main river is the Cauto, located in the Southeast. The coast of Cuba is very irregular and is indented by numerous gulfs and bays.

Developing Multichannel Strategy

Developing Multi-Channel Strategy Dr Stan Maklan and Dr Hugh Wilson Cranfield Customer Management Forum in collaboration with IBM Business Consulting Services Contents A strategic approach to channels †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 1 Process overview†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 2 Step 1 Identify problems and opportunities†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 4 Cost reduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Improved customer experience †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 4 Improved access †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 5 Steps 2 and 3 Current and future state analysis †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 6 Define the marketing context †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ . 6 Sales complexity matrix †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Product coverage map – current and future state †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 8 Building alternate channel chains †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 10 Step 4 Assess alternatives and choose†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 13 Channel curves – how customers value alternatives â₠¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 13 Cost analysis †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 4 Prioritisation matrix †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 15 Step 5 Implementation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 18 Metrics†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 18 Testing new channel chains†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 19 Customer research cannot predict outcomes †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 9 Experimental design helps†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 19 Roll out†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 20 People must support new ways of working†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 20 Management, not technology, guides channel innovation †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 21 Summary comments †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 Step 1: Identify the nature of the problem or opportunity †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 23 Step 2: Conduct a current state analysis †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 23 Step 3: Create a future state Product Coverage Map †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 23 Step 4: Evaluate potential new channel chains †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 23 Step 5: Pilot priority new channel chains and roll out successful pilots. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 3 Appe ndix 1 Directional policy matrix †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 24 1 Cranfield Customer Management Forum in collaboration with IBM Business Consulting Services Figures Figure 1: Process Overview †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 2 Figure 2: Analysis and Generating Alternatives †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 6 Figure 3: Sales Complexity Factors and Weightings †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 7 Figure 4: Sales Complexity Score †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Figure 5: Current Coverage Map – IT Services Provider †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 9 Figure 6: Redrawn Coverage Map (Future)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 10 Figure 7: Current Field Sales Led Combinations†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 11 Figure 8: Alternate Channel Chain †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 12 Figure 9: Channel Curve †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 13 Figure 10: Cost Comparison – Field Only versus Multi-Channel†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 14 Figure 11: Prioritisation Matrix†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 6 Figure 12: Example of Prior itisation Matrix†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 17 Figure 13: Directional Policy Matrix†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 24 2 Developing multi-channel strategy A strategic approach to channels Distribution and channel-to-market strategy used to be an afterthought for most marketers. Once the difficult judgements about product range, price and promotion were made, channel strategy was determined by objective economic and logistic factors, such as minimum order size and shipping costs.The internet, coupled with a proliferation of complex global supply chains, has elevated channel choice to the pantheon of critical marketing issues. Customers make channel choices alongside their product-service choices and expect suppliers to offer sales, marketing and service across multiple channels – online, telephone and physical presence. Offering all channel choices to all customers across all products and services is too costly for most companies. For many companies, channel strategy is now every bit as critical to their success, as are brand and product range policies.Companies must now determine how to serve different customers through a combination of channels that meets customer needs at a competitive cost. The strategic marketer wants to move the discussion of channel strategy beyond distribution costs and efficient order sizes by determining how channel strategy creates product-service innovations, reduces cost and improves customer loyalty. A successful channel strategy delivers differentiated solutions to different customer segments whilst meeting the marketing, sales and service requirements particular to each productservice.Balancing the needs of customers and the characteristics of individual products and services, identifying trade-offs, identifiable costs to be borne by each chan nel and creating customer value through channel innovation are the marketing challenges companies face. 1 Developing multi-channel strategy Process overview Channel strategy typically develops in an ad-hoc manner. Analysing a company’s channel policies is sometimes akin to an archaeological expedition: one digs through time discovering layers of historical decisions, sales partnerships and customer deals.We believe that there is great benefit for most companies in treating channel strategy development as a process. Just as strategic marketing planning revolutionised the way marketing plans were developed, a systematic approach to channels will improve companies’ chances of accomplishing their strategic channel objectives. We have developed a simple process framework to help marketers meet these channel challenges (Figure 1). Figure 1: Process Overview Step 1: Problem Opportunity Step 2: Current State Analysis Step 3: Future State Analysis Step 4: Choose Step 5: Impleme nt Cost Experience AccessMarketing Context Channel Coverage Maps Channel Chain Development Channel Curve Prioritisation Matrix Customer experience People Metrics Step 1 – Identify problems and opportunities: The process begins with the organisation identifying problems and or opportunities. We categorise these into three types: cost reduction, improvement of customer experience and improving customer access. Often companies are faced with a need to do a combination of these three. Steps 2 & 3 – Current and future state analysis: These stages make extensive use of tools developed by the Cranfield Customer Management Forum.Step 2 begins with traditional market place analysis; identification of customer segments and priority product (service) offers. These offers and customer segments are grouped in a channel coverage map – current and future. The map identifies logical bundles or groups of solutions and customers which form the basis for development of separate ch annel chains, combinations of channels that serve the customer at each point in the purchase and service process. Step 4 – Choose: Evaluates each channel chain for its cost and ability to generate customer value.The latter is estimated through channel curves, a research based technique that evaluates customer preference for each channel at each point in the purchase and service process. Finally, a prioritisation matrix is developed that identifies the most important channel investments to be made. 2 Developing multi-channel strategy Step 5 – Implement: Implementation is a critical element of channel marketing. Channel innovation is challenging for organisations because of the people issues involved – customers and sales people.This section of the report illustrates the importance of test marketing channel innovation, aligning compensation plans to desired behaviour and ensuring the new channel system is able to â€Å"learn† from customer experience, and a dapt as it is rolled out. 3 Developing multi-channel strategy Step 1 Identify problems and opportunities There are a limited number of famous examples of reinventing industries through channel innovation: E-Bay and Amazon spring to mind immediately. Those companies started from the â€Å"white sheet of paper† or the third process stage of the above model.The firms participating in our collaborative research project are all established players in their markets with existing channel structures. They may be responding to low cost, internet pure play competitors. For established companies embarking on channel strategy development, it is worthwhile to engage senior management in a discussion about the objectives of channel policies. Our experience suggests that it is useful to frame the discussion around a limited number of strategic objectives: cost reduction, improved customer experience and better customer access to the company (e. g. overage). Cost reduction Cost reduction is self explanatory. Many established firms face the twin challenges of customers expecting their traditional personal (expensive) sales and service whilst willing to pay only at prices charged by new competitors operating, for example, only via the internet. BT’s Major Business unit, dedicated to serving its largest customers, faced just such a challenge. Traditional telephony revenues were flat or declining as costs fell throughout the industry. Growth was generated through increased sales of IT related solutions such as routers and servers.Margins are lower in IT versus telephony and the channel â€Å"norm† was different indirect channels and self service over the internet. BT could not profitably compete in the new areas whilst retaining its channel structure and cost. By allocating sales tasks sensibly between field sales, desk based sales and the internet, BT reduced costs as a percentage of revenue through channel strategy – whilst increasing market coverage . Improved customer experience Improved customer experience is linked with customer retention and increased recommendation.Companies normally measure key indicators of their customer processes (e. g. telephone answering, complete orders on time, resolution of customer problem with first phone call) to illustrate the efficiency of their customer management but they measure their effectiveness with customer satisfaction scores. There are very few executives today that fail to espouse their need for improved customer satisfaction – this is rapidly becoming the motherhood and apple pie of boardroom conversation. But improving customer experience normally entails costs – better people, better systems, more capacity.Of course, every company wants improved customer experience at lower cost per customer, but this is rarely possible. Often the strategy is to â€Å"encourage† 4 Developing multi-channel strategy self ordering and service online and convincing oneself that customers really prefer this experience. This is not always true, nor is measuring customer satisfaction always instructive. Increased customer satisfaction does not necessarily change customers’ buying behaviour and customers defect to competitors for different reasons than they remain loyal. The message is clear.Customer experience is an essential part of marketing and customer retention, particularly in the services sectors. But companies cannot invest on the basis of â€Å"more is better†. Companies need to understand how customers value each element of the package of benefits they receive and how they make trade offs between them; how much experience would a customer sacrifice for lower prices online? How will improved customer experience lead to business outcomes? Land’s End, a successful mail order clothing retailer, embraced the internet early on.It understood selling clothes to people not able to try them on in a shop, so the addition of the online chan nel to its traditional telephone-catalogue one, was not too difficult. It uses the internet to extend and enhance its customer experience by providing complementary services. For example, one can design and dress up a virtual personal model to sample clothing virtually. Nonetheless, Land’s End displays prominently its toll free number so that online customers can immediately access helpful call centre staff.It also offers real time chat and personal assistance. Land’s End’s investment in the online channel was not justified by reduced call centre costs – it is there to provide a better customer experience. Improved access Finally, improving customers’ access to your products and services is a basic tenet of good business and a traditional channel strategy objective. With new technology, companies can offer unprecedented access to sales, service and customer data ubiquitously. Companies can now access customer segments hitherto unreachable or unprof itable to serve.BT’s Major Business Unit’s channel innovations not only reduced its costs, but allowed BT to increase account penetration. For example, a BT Account Director might negotiate the right to sell leased lines (typically low value items) to each branch of a national financial services company. Whilst the deal is negotiated with the customer’s head office, it is sold branch by branch with a desk-based telephone channel. Previously, the Account Director would have had to organise field sales people to call on each branch – uneconomical. Improved access increased sales.Many estate agents offer online services to improve customer access to their databases of properties and, more importantly, improve access to updates in property details. Whereas, previously, potential buyers would need to call agents regularly and receive posted updates of properties, changes in prices or competing bids, now they can be notified online or via SMS messages. 5 Develo ping multi-channel strategy Steps 2 and 3 Current and future state analysis Strategic alternatives can be developed through analysis of current channel combinations and generating imaginative new ones.See Figure 2. The tools used for analysing the current state and determining the future state are identical so these steps are discussed together. Figure 2: Analysis and Generating Alternatives Define the Market Context Define the market Determine customer segments Determine product-service priorities Generate Channel Strategy Alternatives Sales complexity Matrix -product complexity and customer value 2. Product coverage map -current state analysis 4. Generate alternative channel chains 3.Future coverage map – Create productcustomer combinations Define the marketing context Whilst the focus of this paper is channel strategy, the framework illustrates that channel strategy should be considered in the context of the company’s product (service) strategy. The salient aspects are: †¢ Agreeing the market definition as consumers or end customers would define it. Mapping the flow of goods and services through to the end customer to determine who buys what from whom. Segmenting the market into distinct, needs based customer segments.Setting appropriate investment strategies for each productservice market on the basis of your competitiveness in the market and the market’s inherent attractiveness. Normally, this is done with the Directional Policy Matrix, a strategic marketing planning tool described in Appendix 1. †¢ †¢ The market context illustrates the major market segments and the strength of existing distribution networks from suppliers through intermediaries (hereafter the channel chain). It also determines the priority productsservices for channel investment. It provides the necessary background 6Developing multi-channel strategy data for analysing current channel policy and generating alternatives for the future. Sales complexity matrix The first step in the analysis of the current state is to determine the sales complexity for each of the priority offers (combinations of product and or service) determined above. The more complex a product (service) is to sale and service, the more complex, personal and interactive the effort required by the company. Conversely, buying low cost, low risk, easy to configure products can often be done directly by customers online.Most often a sale, even for complex solutions, is made through a combination of channels, but one channel is designated as the lead or prime channel. Sales complexity is one of two prime determinants of the dominant channel: the other is how important the customer. Sales complexity can be estimated as a weighted average of scores for each of the key components of sales complexity. Let us take the case of an IT service provider. It provides three types of services: computer installation, configuration of sales and marketing software applications and ma rketing consulting.Under each of these three service headings there are three to five more specific service offers. For example, the software configuration services comprise the installation of complex front office solutions, databases, data mining tools, sales force automation systems and simple contact management systems. The company determines factors that comprise sales complexity and then determines a weighting for each factor to arrive at the following list and weightings (Figure 3): Figure 3: Sales Complexity Factors and Weightings Complexity FactorOrder size – the bigger the order, the more complex Limited customer knowledge of the product or service – less customer knowledge creates more complexity Length of the sales cycle – long sales cycles increase complexity Difficulty configuring – installing – the more difficult to configure, the more complex the sale Training – the greater the requirement to train customers in the use of the application/equipment, the more complex After sales service – the more service required, the more complex the sale Weighting .15 . 25 . 10 . 20 . 20 . 10Against each of the services offered, the company scores each of the complexity factors from one to ten in order to create a weighted average score for each line of service (Figure 4). 7 Developing multi-channel strategy Figure 4: Sales Complexity Score Order size Limited Customer knowledge Sales cycle Configuration Training Service Sales Complexity Score Weighting Application Configuration Front Office Database Data Mining Tools Sales Force Automation Contact Management Hardware Deployment Desktop Mobile phone PDA Laptop Consulting Service DB management Sales Network Customer strategy 0. 5 10 7 3 5 2 8 6 4 7 5 5 3 0. 25 7 6 9 5 2 2 5 7 3 5 7 10 0. 1 7 6 3 5 2 2 5 7 2 7 7 7 0. 2 7 9 5 7 2 3 6 7 3 8 8 6 0. 2 7 8 9 6 2 3 4 5 3 6 6 NA 0. 1 4 3 5 4 2 3 4 4 4 7 7 NA 7. 15 6. 85 6. 3 5. 5 2 3. 4 5. 05 5. 85 3. 6 6. 2 6. 7 7. 3 Pro duct coverage map – current and future state The product coverage map identifies how we wish to reach our customers as a function of the complexity of the product-services that we sell to them and the attractiveness of the customer. It determines the lead channel for combinations of customer segments and product-services from the perspective of the company’s strategy.The customer perspective is developed in the next phase (channel chains) and overlaid onto the coverage map to provide a balance between company and customer agendas. The coverage map is constructed sequentially from the following: †¢ Sales complexity scores on agreed dimensions to generate a continuum from simple to highly complex. The products and services considered in this phase are normally those identified as important from the Directional Policy Matrix. Major customer segments ideally defined in the first stage (Marketing Context). Developing ontiguous blocks of customer-complexity service spac e. †¢ †¢ The company in this example identifies its priority customer segments from the market context and they are listed below in reverse order: †¢ †¢ †¢ Owner managed businesses Mid sized retail financial services providers Large professional services companies Figure 5 illustrates two axes of the coverage map: (1) customer segments (prioritised) and (2) product-services ranked in order of complexity. 8 Developing multi-channel strategy The middle of the matrix describes how the company sells each productservice to each customer.These are, in order of INCREASING cost: customer self-service on the net (I), desk-based sales conducted by telephone (T), distribution partners (D)1, and field-based account managers (FS). Figure 5: Current Coverage Map – IT Services Provider High Complexity product-service Sales Force Automation Appl. Low Complexity product-service Consumer Strategy Owner Managed Businesses Medium Retail Financial Services Large Professio nal Services Front Office Application Database Application Sales Data Mining Network Mgt Tools Database Mgt PDA Deployment Laptop Deployment Desktop Deployment Contact Mgt Application FS FS T I I FS D FSD D T FS D FS I T I D FS T T I FS FS D D T T FS FS FS FS FS I = self service over the internet, T = Deskbased account managers D = Third party distribution partners FS = Field sales – account management There are obvious anomalies in the coverage map illustrated in Figure 5. Expensive field account managers sell some very simple products-services: perhaps there is a culture that an account manager handles 100% of the customer’s requirements. Distributors sell the company’s complex database applications and sales networks to very large companies for historical reasons; does the company lack sales expertise in these areas?However, the distributors may dis-intermediate the company and take control of key accounts, so is this a wise policy? To owner managed businesse s, some of these complex services are sold via the internet which has a low success probability. Even smaller, owner managed businesses need some help to understand these services. Figure 6 illustrates how the company assigned a â€Å"lead† channel for each product-service and customer segment combination to reflect the selling demands of the product-service and the size of the sales opportunity.These new contiguous blocks of customer-solution become the unit of analysis for the next stage of the process: building combinations of channels to serve each block (channel chains). Such distribution partners are often known in the IT industry as VARs or Value Added Resellers. They are often small to medium sized IT services firms that provide specialist industry or application expertise. 1 9 Developing multi-channel strategy Figure 6: Redrawn Coverage Map (Future) High Complexity product-service Low Complexity product-service Sales Force PDA Automation Laptop Desktop Contact Mgt De ployment Appl.Deployment Deployment Application Consumer Strategy Owner Managed Businesses Medium Retail Financial Services Large Professional Services Front Office Database Sales Data Mining Application Application Network Mgt Tools Database Mgt D D D D T T T T I I I FS FS FS D D D T T T T I FS FS FS FS FS FS T T T T I I = self service over the internet, T = Deskbased account managers D = Third party distribution partners FS = Field sales – account management The redrawn coverage map focuses vital field sales resources on selling large, complex solutions to the biggest, priority customer segment.Distributors sell large, complex solutions to smaller, lower priority segments. Desk-based sales teams handle the middle ground: modest complexity across customer segments. Self service over the internet is reserved for the simple products-services and lower priority customers who are considered to buy largely on price and for whom a lower cost sales model is needed in order to be co mpetitive. This exercise puts some structure on the channel strategy but it is not realistic in the modern world for one channel to manage an opportunity through the sales and service cycle.Whilst the company now has a lead channel for each opportunity, it needs to build secondary channels to reflect customer segment preferences and manage scarce resources optimally. Building alternate channel chains The channel chain maps out how we can reach the contiguous groups identified in the redrawn product coverage map. If the product coverage map allows the company to find a rationale for how it wishes to serve customers, the channel chain analysis encourages the company to think about creating customer value through channel innovation.Different customers have different needs for information, counselling and support at different stages of the sales, service and customer development cycle. For reasons of simplicity and accountability, many companies insist that one person (or team) take com plete responsibility for all communications with a customer at all stages of the cycle. This may be a luxury few firms can afford today. Additionally, many customers wish to supplement their traditional customer managers with immediate answers online whilst their account manager is otherwise occupied.Failure to provide a mix of channels can frustrate clients and drain valuable business development from account managers. Channel chains allow companies to think creatively about how to engage with a customer in the manner most 10 Developing multi-channel strategy valued by the customer whilst allocating customer management resources optimally. Figure 6 identifies four contiguous blocks of channel lead and productservice solution: field sales, distributor, desk-based and internet.Each of these blocks should be analysed further to create business rules for the management of opportunities through the sales, service and customer development cycle. Figure 7 illustrates the current channel c hain for the contiguous block of selling complex applications to large customers. There are a number of shortcomings with the current channel chain from the perspective of the company. The limited field sales resource is stretched by taking full responsibility at all stages of the customer engagement cycle.Whilst customers appreciate this simple and personal service, sales people do not have sufficient time to focus on developing big opportunities. During the early stages of a customer engagement, the channels operate in separate silos largely and respond to enquiries that come to them instead of operating to a set of business rules that determine where the opportunity is best handled. Figure 7: Current Field Sales Led Combinations Marketing activities Deskbased (telephone) Internet Distributor Field sales Operations Stage Lead generation Inquiry Qualify lead Proposal Follow up Close Implementation Assess new customer needs Customer developmentFigure 8 illustrates the result of the creative process that generated a framework for team based selling: integrating a number of channels that aligns the appropriate channel to the different tasks. Valuable field resources are focused upon the tasks for which they are uniquely and best suited: generating compelling sales proposals and closing the sale. Integrating the internet and desk-based channels into the process under the leadership of the field sales force, qualifies out poor leads quickly and therefore allows the company to pursue more sales leads.The teambased selling approach provides better response to customer queries 11 Developing multi-channel strategy throughout the selling engagement and reduces the cost of sale to the company. So the alternate channel chain increases the number of sales opportunities, reduces the cost of sale and increases the sales success rate. Figure 8: Alternate Channel Chain Marketing activities Internet Deskbased (telephone) Distributor Field sales Operations Stage Lead generation Inquiry Qualify lead Proposal Follow up Close Implementation Assess new customer needs Customer developmentSimilar channel chain reengineering is done for all four coverage map blocks identified in Figure 6 to generate strategies for improving sales effectiveness and increasing sales coverage. It remains to assess the impact of alternate channel chains on the target customer and develop a full costing for each to ensure that channel strategy maximises customer value as well as company efficiency. 12 Developing multi-channel strategy Step 4 Assess alternatives and choose The assessment of alternate channel chains is based upon two criteria: cost and customer value. Channel curves – how customers value alternativesCustomers have their own criteria for assessing how well a company manages the supplier-customer relationship. Channel curves assess how well different channel chains deliver against customers’ key criteria. Customer research generates a list of key criteria a nd the weighting of each criterion in the customers’ total assessment of a supplier. Judgement and research suggest how each chain delivers against each criterion on a one to ten scale. The result is a weighted average utility score for alternate chains. Figure 9 illustrates this for our case example: how large professional services firms assess IT suppliers’ channel chains.The new, mixed channel chain generates a slightly higher weighted average customer utility score but the difference is likely within the margin of error of the method. The extensive personal contact of the traditional channel chain generates small advantages for the most important customer criteria but this is offset by a mixed chain’s ability to respond very quickly to simple requests and greater access to technical resources 24/7 because field sales people do not have the deep technical know-how that is available via the desk and online channels. Figure 9: Channel Curve Weights 10 3 . 18 . 17 . 15 . 10 . 08 . 02 Traditional chain (Weighted Ave . 66) Alternate chain (Weighted Ave . 69) 5 1 le op pe of es ie y e er liit q qu na e so pll er Pe s sim tto se a al on o os sp o op re pr d id e ap at R ur cc ac e,, ett pl m se om tis C C er xp le s ca n ni m em c ch bl T Te ro pr off p h hi rs ce ic ne r rv wn s se O ed iis s om es st iin us us C bu y m m n nd U ds an s st er The channel curve analysis reassures the company that the mixed channel chain is no less preferred than its traditional approach and 13 Developing multi-channel strategy enerates a list of key issues that the mixed chain must address – intimate knowledge of the customer business for example. These can be translated into key metrics against which to assess the new chain. Cost analysis Cost reduction is always of interest to companies designing their channel policy and in this illustration, necessary for the company to remain competitive. Other companies might find that overall customer utility fall s with some new channel chains and they would expect a significant cost reduction in order to compensate for potential lost business.Conversely, some firms may design more expensive channel chains that are highly valued by customers and they need to know how much incremental cost will be generated. Costing channel chains is a matter of detailed estimation of the degree to which different customer groups will use different channels and each channel’s effectiveness at converting inquiries into sales. The exercise generates metrics for efficiency (cost) and effectiveness (conversion or attainment of other objectives) that will enable managers to assess channel policy continually.In this case, the IT services provider compared the cost of traditional field sales force against a team-based multi-channel approach as illustrated by Figure 7 and Figure 8. In this illustration, revenue increases 50% whilst costs decrease so that the cost per order falls by almost 3%. This results in s ales costs, as a percentage of total revenue falling from 23% to 15. 6%. Figure 10: Cost Comparison – Field Only versus Multi-Channel Field Only Sales process Inquiries Qualify Proposal Follow up Close Assess new opportunities Customer development Revenue Total cost Cost per order Cost ? 000 2000 3500 4000 2000 200 Cost per process ? 0000 50000 100000 200000 20000 Multi-Channel Cost ? 000 1200 3000 4000 3000 240 Cost per process ? 10000 30500 80000 200000 10600 Customers 100 100 70 40 10 10 Customers 120 120 85 50 15 15 10 50M 200 11900 20000 15 75M 240 11680 10600 1190 1160 14 Developing multi-channel strategy The sales processes above are taken directly from Figure 7 and Figure 8. Lead generation and implementation costs are not affected by the channel chain in this case example so they are excluded from the cost analysis. For purposes of presentation, we assume that the current channel chain generates sales of ? 0M through 100 orders. The new channel chain will allow more inquiries to be processed but there is no difference in the percentage of inquiries that pass through to proposal and are followed up. The closing success rate is slightly higher in the new channel chain because field sales people are focused on critical junctures of the sales process. The big difference is in the costs of qualifying each lead, generating a proposal and following it up. Prioritisation matrix The generation of alternate channel chains is both a rational and creative exercise.In the examples we present, some channel chain innovations are obvious – this is for presentation purposes. Some of the most exciting marketing developments over the past decade have resulted from very radical approaches to channels. The use of a comprehensive set of tools and frameworks should not diminish the creativity of managers in thinking about novel ways to meet customer needs. For example, online betting exchanges, such as Betfair (www. betfair. com), reduce customers’ cost , improve their access to betting occasions and for the first time, allow them to back and lay bets.The incumbent fixed odds, high street betting shops are responding but the online new entrants generated this innovation. Thinking creatively about channel chains for each contiguous block of customer-solutions will create a number of channel chain combinations that customers will value and may be cost effective. Few organisations, if any, can implement many channel chains simultaneously due to the complexity involved: implementation is discussed in the next section of this paper. A simple means of setting priorities amongst channel combinations is suggested – the prioritisation matrix illustrated in Figure 11.This matrix is defined by two axes: attractiveness of the channel chain to the organisation and attractiveness to the customer. It results in four solutions and attendant generic strategies for each. 15 Developing multi-channel strategy Figure 11: Prioritisation Matrix At tractiveness to organisation High Attractive to organisation †¢ †¢ †¢ †¢ †¢ †¢ Revenue potential Increased coverage Margin improvement Reduced complexity Fit to strategy Ease of implementation Selective trials with consumers Priority investments Attractive to customer †¢ †¢ †¢ †¢ †¢ †¢ Convenience Cost Speed of response Availability Product information Ease of useLow priority investments Partner Break into stages Gain experience Watch and prepare Low Low High Attractiveness to customer Much of the analysis required to complete the prioritisation matrix has already been done. Understanding the attractiveness to the customer and key dimensions of attractiveness are generated by the channel curve analysis. The attractiveness to the organisation is largely done; the prioritisation matrix adds some new dimensions, such as ease with which the company can implement the solution, fit to overall strategy and ability to reduce sales complexity in the organisation.The four generic strategies corresponding to the boxes of the matrix are: †¢ Invest: The channel chain is attractive to both customers and the organisation so it is a win:win. †¢ Selective trials: The channel chain is attractive to the organisation but not to the customer. Here judgement is needed. Is the potential gain, for example in cost, worth the loss of customer satisfaction? Will customers learn to accept the new channel chain? Will they defect if unhappy? Will competitors follow our lead so that this channel chain becomes the industry norm? Can some negatives with the new chain be overcome?Find â€Å"clever† solutions: These options are highly valued by customers but not by the organisation. Perhaps they are too costly, too difficult to implement or operate or do not fit with the overall strategy. Can you partner with another firm to reduce the cost and complexity? Can the new chain break the solution into smaller, more managea ble pieces or be implemented in stages? Perhaps you can trial the new chain and learn how to implement it at lower cost. At least, one needs to keep a watching brief on these channel combinations lest competitors implement them first and take valuable customers.Low priorities: These are valued neither by the organisation, nor its customers, so are generally not done. †¢ †¢ 16 Developing multi-channel strategy The organisation must agree a scale on which to grade high-low on the two axes and normally this is done on a scale between one and ten. The matrix itself is populated with channel chain investment options illustrated by circles and the size of each circle can be scaled to reflect the cost or potential revenue benefit. This is illustrated for our IT services company in Figure 12 below.Each channel chain investment is described by its chief characteristic; for example one says â€Å"field sales automation† and that is the channel chain that essentially enhances the productivity of the current field sales chain. The diameter of the circles represents the investment being made by the company in channel innovations. Figure 12: Example of Prioritisation Matrix Attractiveness to organisation †¢ †¢ †¢ †¢ †¢ †¢ Revenue potential Increased coverage Margin improvement Reduced complexity Fit to strategy Ease of implementation High Attractive to organisation Distributor extranet Field sales automation Desk based sales Customer portalAttractive to customer †¢ †¢ †¢ †¢ †¢ †¢ Convenience Cost Speed of response Availability Product information Ease of use Low Field sales Low High Attractiveness to customer In this example, we can see that the largest channel investments are in chains and solutions that are least attractive to customers. The channel investment most valued by customers (more field sales people) is unattractive to the company and not receiving a lot of investment. Perhaps this is t he most attractive to customers because they are not used to team based, multi channel selling from the company.Perhaps they are not convinced that the company can implement it effectively and are worried that service levels will fall. The two projects that are in the top right quadrant receive the smallest investment. The prioritisation matrix suggests that the company should increase investment in the portal and extranet. Field sales automation is not what customers value so that might be implemented selectively. Desk based sales might be critical to making team selling work but it seems to dominate the investment portfolio. Perhaps it could be introduced more slowly to allow funding to be redirected to projects of higher customer priority.Field sales investment is valued by customers but is not attractive to the company; can investment be more selective until other channels demonstrate their value to customers? 17 Developing multi-channel strategy Step 5 Implementation Developing new channel chains is a change programme and most managers have first hand experience of change. This white paper does not wish to summarise the vast literature and experience of change management in its final section. We will highlight some unique aspects of channel chain change programmes that merit attention.This section discusses: †¢ †¢ †¢ Design of metrics Piloting channel chains with customers Rolling out new channel chains and ongoing development thereof Metrics The prime metrics for assessing and managing the development of channel chains are illustrated by Figure 10, the cost and conversion analysis. Ultimately, the organisation wishes to sell more at lower cost per sale. Alternate chains are developed and their efficiency and effectiveness are measured. Achieving the targeted ROI for such investments is usually contingent upon a few key conversion and cost estimates.However the role of channels in marketing strategy goes beyond sales and most companies adop t a balanced scorecard type approach comprising: †¢ Financial measures such as costs per sale, sales costs as a percentage of revenue, number of sales, average order size, conversion from inquiry to sale and repeat purchase rates. Reputation measures the impact of alternate channel strategies on customers’ perception of the organisation – modernity, professionalism, value for money, value for time, knows-mybusiness, easy to do business with and other relevant measures.Relationship measures include the number of senior level contacts with a client per annum, the breadth of those contacts (in the case of the IT company it might measure marketing director contacts), frequency of customer interaction, customer satisfaction, customer willingness to recommend our company. Knowledge tries to measure how much we know about each customer’s behaviour, attitude and purchase process. People looks at the extent to which our own customer facing people are satisfied, enga ged, productive, supportive of the business’ overall goals, feeling confident about their customer management competencies. †¢ †¢ †¢ 18 Developing multi-channel strategy For a comprehensive review of metrics see the Customer Management Forum white paper ‘Measuring multi-channel effectiveness using the balanced scorecard’. Testing new channel chains Channel chain innovation represents two challenges: 1. Channel innovations are complex change programmes that require sales people to embrace new ways of working and are often accompanied by complex new technology. Unlike backoffice automation, channel chain mistakes impact customers and there are few â€Å"second chances† if customer service levels erode as new ways of working bed down in the organisation.The business case is normally â€Å"theoretical† and assumptive. We have described the stages of developing new channel chains and highlighted the need to seek customer research at key in tervals. Where the brief is cost reduction, savings can be forecasted. However, where the brief is to enhance customer experience and extend the offer, it is difficult to be sure to what extent improved customer experience leads to changes in customer behaviour. It is intuitively appealing to assume that a better experience improves customer satisfaction and that higher levels of satisfaction generate more purchases.Intuitive yes, but often wrong. Regrettably, proving empirically the relationship between customer satisfaction and behaviour is fraught and companies must test this in their own specific context. 2. Customer research cannot predict outcomes Whilst the process outlines some of the customer research activities that can be undertaken during the development of new channel chains, research experts have long realised that customers cannot predict how they will react to situations that they have yet to experience.So extensive surveys, observation of customer behaviour in resea rch laboratories and even examples from other industries do not predict behaviour. This is not to say that research is a wasted effort, only to suggest that research does not substitute for testing channel innovation on a small scale before proceeding to reorganise one’s entire channel strategy. Experimental design helps Given the difficulties identified above, companies need to prove channel innovation in the marketplace with real customers. However this process must be managed carefully in order not to damage vital customer relationships.We recommend that companies create an experiment where a small, but sufficient number of customers are exposed to the new channel chain. Key metrics, discussed above, are determined in advance of the experiment and they can be assessed in-market. 19 Developing multi-channel strategy On the basis of observed changes in customer behaviour, Sales ability to work in the new channel chains and the ability of the company’s processes to sup port the channel innovation, a company can invest with much greater confidence. Roll outSome of the case studies produced by the Cranfield Customer Management Forum illustrate how a successful pilot improves the chances for a successful roll out. With hard evidence of the benefit, people are more willing to support the changes required to scale the pilot into a full channel programme. People must support new ways of working The channel innovations we have seen at the Cranfield Customer Management Forum typically involve a company moving from a very dominant single channel (e. g. field sales) to a broad, team-based multichannel strategy.Case histories explored by the Forum illustrate a number of issues: †¢ Field sales forces feel threatened over their ability to control the customer experience (who is saying what to MY customers? ) and a potential reduction in status. There is often the unstated worry that senior management is evaluating critically individuals’ operationa l performance and ready to micro manage customers from head office. Finally, and perhaps most importantly, there are worries over compensation. Introducing team based selling with a view to reducing sales osts is often interpreted as a threat to sales peoples’ current compensation structure. How will sales incentives be shared between the channels? Managers of new channels, such as desk-based sales and the internet, do not know how to integrate with field sales operations. They are not sure how to measure success; what is their contribution to an overall sales target perhaps under the control of a field sales director? Their teams tend to be remote from the customer and field sales so personal relationships and trust are hard to develop.Companies do not know how to compensate each channel. During the introduction phase, management wishes to reassure the field that its compensation will not be reduced so that incentives for new channels represent added cost. This is not sustai nable. Team based selling often requires new technology and that entails risks of the technology not working, or people not operating the new technology properly. Customer facing technology is particularly risky as valuable customers experience your teething problems. †¢ †¢ †¢ 20 Developing multi-channel strategyThe Cranfield Customer Management Forum has documented successful channel innovation in such circumstances. The elements common in such cases are: †¢ The implementation of the channel innovation is not rushed. There is adequate time to consult with sales people, train people in ways of working, build teams between the old and new people and just get used to the idea of change. It is not uncommon for channel change programmes to last for three to four years. Of course, throughout that period, innovations are being introduced but at a pace that the organisation can manage.The customer relationship manager remains in control of the overall engagement with hi s or her customer. The relationship manager is fully aware of the activities of other channels with his or her account and can override the policies and recommendations of the â€Å"system†, retaining full control over the customer experience. Software is tried and tested thoroughly by live sales teams before large scale rollout. Support for changes in working practices are severely undermined when promised technology that makes â€Å"it all work† disappoints its users.People feel let down by the company and distrust the motives behind the changes. There is a frank and open discussion about compensation. Companies cannot be expected to fund double or triple compensation for the sake of harmony. However, the compensation system must encourage team selling. In the BT example of selling leased lines to bank branch offices, desk based sales people receive bonuses for each sale made. At the same time, the national account (field sales) manager for that bank is credited with the sales made by desk based sales against his or her overall target with the bank for the year.The relationship manager is therefore rewarded for the successful desk based sales campaign. In this way, there is alignment between the channels’ compensation plans. †¢ †¢ †¢ Management, not technology, guides channel innovation In all the cases of successful channel innovation reviewed by the Cranfield Customer Management Forum, we found that CRM technology played an essential role in enabling new ways of working to be managed at a large scale consistently. However, successful companies did not begin by picking an application and then building processes that embed the application in their organisation.They started with a clear view of what they were trying to accomplish and used approaches akin to channel mapping and channel chain development to achieve it. 21 Developing multi-channel strategy Once they understood the channel chains that they were trying to implem ent, they built a comprehensive set of business rules around each chain. This allowed the company to have rules for such events as major customers making enquiries online, telephone based sales campaigns to major customers and avoiding conflicts with distributors’ sales campaigns.These rules took time to develop and often were built with the help of outside consultants. The rules are managed by very senior sales managers as they represent the underlying logic of the channel strategy. For successful companies, the allocation of sales complexity scores to products and services is a top management issue as is the process by which various channels will work together. In order for the rules to be dynamically updated, there are important governance structures established for team based selling.Each company finds its own way to integrate the policies, investment, people development and compensation of its channels. However these policies are not developed in isolation of the overall customer relationship strategies. Resource owners are not free to do as they please; senior managers must live the team-based values that they espouse. 22 Developing multi-channel strategy Summary comments Traditionally, â€Å"channel† was a poor relation to other elements of the marketing mix.New technology and business models have changed this 180 degrees: scholarship and managerial practice are catching up to this new reality. We develop a systematic five step plan for companies to develop their channel strategy. Step 1: Identify the nature of the problem or opportunity Is the motivation for channel innovation cost, improving customer experience, increasing customer access or a mix of the above? Step 2: Conduct a current state analysis First look at the market context: define the market, determine and establish priorities between customer segments and inally determine and set priorities between product-service offers. Then determine the complexity of each priority product service offer and rank the offers in order of complexity. Using the Product Coverage Map, identify the lead channel for each priority customer segment along that ranked order of complexity. Identify anomalies. Step 3: Create a future state Product Coverage Map To address these anomalies, identify major groupings of offer-customer with lead channels. Draw channel chains for each grouping.Enter into a creative exercise to develop better channel chains for each grouping. Step 4: Evaluate potential new channel chains Evaluate in consideration of customer preference (Channel Curve analysis) and cost. Set priorities between alternatives. Step 5: Pilot priority new channel chains and roll out successful pilots. Consider that channel innovation is a major change process. Research and adoption of â€Å"best practice† alone will not provide the leadership necessary for successful channel innovation. Customers cannot evaluate that which they have not experienced.Best practice fails to account for the context-specific nature of each company’s customers, ways of working, established Sales practices and information technology expertise. In implementation it is important to ensure that customer-facing people support new ways of working, implementation is not rushed to meet artificial schedules, customer managers retain control of the process and act as guardians of the customer experience and there is effective feedback between those leading the change and those affected by it.Despite the difficulties in channel innovation, for many companies it is a must-do activity. Since best practice is very emergent, there are opportunities for companies to generate real competitive advantage through channel strategies. 23 Developing multi-channel strategy Appendix 1 Directional policy matrix The Directional Policy Matrix (DPM) is a strategic marketing planning tool that allows managers to make investment decisions across a portfolio of opportunities. Figure 13: Direction al Policy Matrix MARKET SEGMENT