Russia and Central Eastern Europe as a market area an Example of the Topic Economics Essays by

Russia and Central Eastern Europe as a market area Russia and Central Eastern Europe as a market area in 2010:Forecast the future of business in Russia and your position within this context. Forecast the future of business in Russia and your position within this context. Russia and Central Eastern Europe is certainly one of the most promising market areas of the world. With an impressive legacy from the Soviet era, an educated population and vast natural resources, Russia has a great potential for development. Although beset by severe economic problems and political and governance inefficiencies at the time, the nation has the potential for a spectacular comeback this may happen as soon as 2010. Its revival can have a reinvigorating effect on other countries of the region that have possibility to expand by selling their products in Russia and have many of the same advantages as their larger neighbor. The success of any future business in Russia will depend on ones ability to find ways to success in this complex context. Need essay sample on "Russia and Central Eastern Europe as a market area" topic? We will write a custom essay sample specifically for you Proceed To appraise Russias future, one should remember first of all that the nation was the main formative part of the Soviet Union, one of the two superpowers that participated in the Cold War. Despite the obvious defeat in this rivalry with the US, the USSR was able to hold ground against the West for several decades, and not in the last due to its developed industry and military complex. As of now, Russian weapons, such as rockets, tanks, rifles and others remain a competitive product on the world arena. The nation is a major supplier of weapons in international markets, and this manufacturing involves many technological issues that are difficult to reproduce in other countries. With a skilful governance, the country can make this a serious advantage, and in 2010 more technologically advanced industries can develop. One need not remember, however, the Soviet production, defined by the government to meet their special political goals, was aimed at making the country powerful, not at making an individual citizen well-off. The neglect for individual consumption has led to under-development of this sector. This caused permanent deficiency of consumer goods, which is negative for citizens, but opens great possibilities for foreign companies with a well-known, product with world-renowned quality. The Soviet Union also left behind a quite impressive educational system that, being free for a long time, provided access to talented youths from all over the Soviet Union. This system survived to this day in Russia and Central European countries such as Ukraine, Belarus, and Moldova. With solid educational institutions and a sound school system, these nations can turn out a consistently high quality of educational programs and in consequence qualified specialists that can propel the economy. The post-Soviet states are especially remarkable for their research and education in mathematics and natural sciences, which is highly important for the development of industrial production in these countries. CIA World Factbook (2006) states that the literacy rate in Russia is around 99.6%. Thus, illiteracy is practically non-existent in these nations, which can also help them attain success in business. In five years time, Russia will continue to produce well-qualified specialists who will hav e hit the market and made changes in the economy. Natural resources are also not an issue to discount easily. This primarily refers to Russia as Central Europe does not contain so many resources. Russias development in particular will be seriously affected by the large reserves of oil of 69 billion barrels by 2003 estimates that make is second important oil supplier of the world after Saudi Arabia (CIA 2006). Fortunes made on oil such as those of Mikhail Khodorkovsky and Roman Abramovich testify to the fact the oil reserves are an important source of wealth if distributed equitably. The nationalisation of Abramovichs company Sibneft and the de-facto nationalisation of Yukos, for all the scandal associated with the event, mean that the Kremlin has regained control over the lucrative industry, and the oil revenues are more likely to stay in the country, delivering economic benefits. Oil earnings are believed to have contributed to an impressive decline in Russias foreign debt (dropping from 90% of GDP in 1998 to about 36%) and surge i n foreign reserves (from $12 billion to about $180 billion at the end of 2005) (CIA 2006). Certainly the impact of oil revenues will depend on the ability of the Russian government to harness the constant stream of revenue for modernization and improvement of economy, but at least this cushion can help the nation make a transition from Soviet-era outdated plants and factories to a more modern, advanced economy. With Russias current policies aimed at the construction of a stabilisation fund, this may become easier to realise by 2010. The same cushion for transition is afforded, for instance, to Belarus in the form of lower gas prices deemed proper by the Russian government due to extensive cooperation with Lukashenkos regime. Ukraine, true, has lost hold of an opportunity to profit from cheaper gas that was previously supplied by Russia after choosing a pro-Western political course, but with the new elections coming the nation can reassess its future direction and once again enter an agreement with Russia for cheap gas prices. These would offer Central Europe surely a dubious advantage in developing their economies, making them dependent upon Russia. However, lower gas prices can also help them to develop their economies to meet Western standards. In any case, the instability of the political situation and dependence on gas prices on politics makes the Central Eastern European economies of the region rather unstable. The development of the region will surely face many serious problems. The Soviet era left a negative legacy that is difficult to overcome. As a system grounded in corruption, it left an even worse corruption to the new market economy that accelerated in the tumultuous perestroika era and was connected in Russia to the epoch of Boris Yeltsin. Although Vladimir Putin is perceived as a stronger leader, more effective in harnessing this harmful phenomenon, there is no sign that it has ceased to be a factor both in corporate and government decision-making. Speaking of Central Eastern Europe, it is most definitely a factor in Ukraine where its current President gained power after successfully exploiting the topic of corruption in former President Leonid Kuchmas government. Corrupt officials continue to make biased decisions that affect the efficiency of business since contracts and licenses often go not to those with the greatest capabilities, but to those with the greatest connections. Ho wever, the experience of Italy, for instance, demonstrates that corruption is not invincible, and that the nation can make its economy function even with this harmful phenomenon present. All these factors will affect the development of Russia and Central Eastern Europe in the next few years. Most probably, by 2010 growth of the Russian economy will continue, although the goal proclaimed by Vladimir Putin, doubling the national GDP, will hardly be achieved. Russia will most probably continue to draw its growth from its natural resources as oil prices are likely to soar even further. This can result in the countrys economy growing, while the wealth will remain concentrated in the hands of a rich clique of businessmen and corrupt officials. This will make income distribution skewed continuing the trend of the past, as of 1998 when the top richest 10% of the nation consumed 38.7%, the bottom 10% accounted for only 1.7% of national consumption (CIA 2006). This makes the Russian market a good place for luxury goods that are eagerly consumed by the top rich, while also demonstrating the lag in public consumption. To this date, in the streets of Moscow, one can see luxury ca rs while the majority of the population cannot afford a vehicle and have to use public transportation. However, if economy continues to boom which is most likely, personal incomes that have posted increases over 12% in 2005 will continue to grow (CIA 2006). This will add impetus to the development of the Russian market for consumer goods that, as stated above. often remain below world standards an after-effect of the Soviet era. Thus, the Russian consumers that have recovered after the 1998 financial crisis will in future be better able to pay for goods and services, a fact which opens new possibilities for consumer-driven industries. The same will be observed most probably in Ukraine, Belarus, and Moldova that also exhibit a smaller disproportion (23.2% versus 3.7% in Ukraine) and a slightly more equitable income distribution, so in these nations a smaller rise in income will have greater impact on prosperity of ordinary citizens who are consumers for mass market products (CIA 2006). The company that wants to succeed in selling consumer goods to Russian, Ukrainian or Belarusian consumers will most probably have to open a business in one of these countries since imports may be seriously affected by duties and quotas. Thus, the two nations are making heavy efforts to protect their domestic automobile industries, slapping imported vehicles, especially used ones, with heavy import duties. A company that will venture into local assembly may soon gain competitive advantage over its rivals that will come later to the same markets. Besides, partnership with local businessmen can have other serious advantages. For instance, this will allow businessmen to navigate through complex networks of local officials and businessmen, establishing necessary contacts with greater ease. Since corruption is not likely to disappear any time soon, someone willing to start business in Russia will have to use something similar to Chinese guanxi, knowing the right people who will pull the triggers for you. Without this, a company with a world-class business reputation and large financial resources will most probably be successful in any case. For a smaller-size business that already has competitors among local companies, finding the right trustworthy contact may be the starting point for a business venture. The attraction of the Russian market is confirmed by the fact that many companies choose to do business there. After 2000, real fixed capital investments have averaged gains greater than 10% over the last five years (CIA 2006). Many reputable Western companies are ready to overlook instability and governance problems as well as country-specific risk to share in Russias growth story. Thus, since the financial blackout of 1998, Russias growth has averaged 6.4% per year and somewhat slowed down to 5.9% in 2005 (CIA 2006). Ukraine demonstrated a growth rate of 4.4%, well below its impressive 2004 growth of 12%, due to adverse external environment (drop in demand for steel, Ukraines main product) and inefficient economic policies. The future of the national economy is uncertain because of a sharp rise in gas prices initiated Russia that will adversely impact the fuel-inefficient Ukrainian manufacturing. Belarus, given its stable partnership with Russia, has better prospects for economic development. Ukraines plight, however, demonstrates vividly the problems faced by the countries of the region: dependence on Russia and its whimsical changes in policy-making, sharp swings in political course, including foreign policy, and on the export of a few raw materials that may economies subject to fluctuations in global markets. Long-term stagnation, however, appears unlikely because of the rich industrial and educational potential of Russia and Central Eastern European countries. Their markets will be boosted by industrial development even if their commodity exports fail, although one can envisage a temporary plunge in this case. In any situation, this will give impetus to nations to rethink their development strategies and emphasize production of high-value-added goods rather than raw materials. Thus, a company that has discovered a promising niche in the markets of that region should give serious consideration to the opportunity, beginning search for a reliable partner and connection in the area. Speaking of my own prospects within this context, I believe that I could be successful working in the Russian or Central European markets. I already have considerable cross-cultural competence developed during my work with the international customer service in Finland-headquartered company and the purchasing department of the US-based pharmaceutical firm. Having worked in Europe, I would most probably find many common points with Russians, Ukrainians, Byelorussians, and Moldavians, although I realize that their culture is vastly different from that of Western Europe. However, I believe that given the vast opportunities opened by this market including over 200 million people, I would find ways to adjust to cultural issues and take time to explore the business opportunities there. I also find that trading, pharmaceuticals and telecommunications have great potential for development in these countries, and drawing on my expertise in the area, I will be in a good position to profit from this development. Thus, with a relatively low income level by world standards, not all those who want to use wireless communications can do so, and international and inter-city connections are still too expensive for many people. With the above projections of rise in income levels of the mass consumer, this market can deliver more than it does today. The projected surge in upscale markets can cause rise in more advanced and expensive communication services including wireless Internet connections and others. Thus, I believe that the advances of the Russian and Central European markets hold significant implications for someone with my background and experience, as long as I undertake more substantial research into segmentation and niche markets in these countries. Central Intelligen ce Agency (CIA) think it is NOT regarding my company's position, but refer to my position as a student with below working experience: Four years of successful working experience with telecommunications in international customer service.(Companys headquarter in Finland) Five years of purchasing experience with pharmaceutical field in an international company.(Companys headquarter in US)

The Grateful Influence essays

The Grateful Influence essays Any band that includes artists like Thelonius Monk, Miles Davis, and John Coltrane on their list of their inspirations surely has an appreciation for improvisation. This band has been said to be "One of the great, great, insane groups in the world today..." Bill Graham, introducing the Dead onstage at the Fillmore East, Feb. 11, 1969. The Grateful Dead emerged in the 1960s along side artists like Led Zepplin, The Doors, and Jimi Hendrix. This era sparked a revolution in the world of music. The Grateful Dead played music together for thirty years. This can only be contributed to the unique style of their music, and the improvisational abilities of each of the band members. Their music combines the sounds of jazz, rock, country, blues, bluegrass, and R The extraordinary ability of The Grateful Deads band members helped to propel the band throughout their 30 years together. Jerry Garcia is one of the first names that comes to mind when The Grateful Dead are mentioned. Jerry Garcia was born as Jerome John Garcia on 1 August, 1942 in San Francisco, California. When Jerry was a child, he lost his ring finger on his left hand. However this didnt stop him from picking up a guitar and becoming very efficient at both folk music and rock and roll. In 1959 Jerry served a very short time in the Army. Upon returning from his service, Jerry began to play bluegrass music with Robert Hunter and Bob Weir. During this time he began to experiment with other instruments like the banjo and the mandolin. Their band t...

American History Since 1900 week five Essay Example | Topics and Well Written Essays - 1250 words

American History Since 1900 week five - Essay Example Black Power appealed to many people because it was viewed a being more proactive than traditional civil rights protests. It was an empowering thought to say, â€Å"Let’s take care of ourselves and forget about White America.† That idea would have been especially attractive to poor individuals that believed their poverty was a result of unfair, discriminatory and racist policies enacted by the government and powerful individuals within American society. It gave them hope of a better future created by black people for black people. The idea behind Black Nationalism is that black people in America are actually a different group entirely from the White population. The institutions as they are constituted now do not represent the black nation. Therefore, black Americans should withdraw from the established institutions and create their own. They should establish their own businesses that provide jobs and services for black Americans. Black nationalism preaches that blacks sh ould take care of themselves and not worry about White America. ... He was offering a new way for black Americans. This new way was designed to lead to self-sufficiency instead of dependency. He taught that the devil would destroy the racist institutions of White America, allowing the Black Nation to rise to power in equity and justice. The Black Nationalists viewed the old civil rights movement as a failure. They noted that the civil rights protests were non-violent but that violence was used routinely against the protestors. This gave the Black Nationalists the proof that they felt they needed to label all of White America evil. They recognized that the civil rights leaders were good people trying to accomplish a worthy goal. The problem is the methods that they chose to employ. The views of the new militants were different than the old civil rights leaders in that they did not view America as a good place in any way. They believed that the whole institution of America, including the Constitution and governmental system, were developed to exploit t he Black Nation. Whereas the civil rights leaders believed in the foundations of America, many of the new militants disagreed with capitalism, democracy and even Christianity. The civil rights protestors wanted equal access to the blessings and benefits of being and American. The new militants wanted to wipe away the old White America and replace it with a new system altogether. This they believed was the best way for blacks to assert their power. The findings of the national Commission on Civil Disorders stated that racism and segregation were root causes of the rioting that occurred in the late 1960’s. Racism and segregation caused a variety of social ills that the black community was forced to deal with. Most prominent

Separation of Powers Research Paper Example | Topics and Well Written Essays - 1500 words

Separation of Powers - Research Paper Example ght, the method of creating a sense of equal measure and power in which to form a government that serves its people instead of serving power for the sake of power, is indicative of the theories of freedom that drove the framers of the Constitution during its inception. With focus on three specific forms of the checks and balance method of construction, the equality of governance can be examined and assessed. In Article I, Section 8 of the constitution it states that â€Å"The Congress shall have power to lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States; but all duties, imposts and excises shall be uniform throughout the United States† which is followed by, â€Å"To borrow money on the credit of the United States;† (United). According to this clause, the legislative branch of government is responsible for the economic health of the state. The following power allows for the ability for this branch to borrow money on behalf of the United States. This power provides a framework for the government to develop its economic interests and act as an agent of management for the financial considerations of the nation. The business of maintaining and running the nation has been put into the hands of Congress, allowing for the decisions that most directly affect the financial well-being of the country to be considered. Without the actions of the Congress, the employees of government cannot get paid, the budget considerations cannot be met, and the expense of running a country would not have administration. By the use of this power, the Congress has the power to create and oversee the budget, while determining the proper use of the available funds to allocate to needs. With this considerable power, the legislative section of the government has the ability to plot the course of the country in regard to the funding of war, the federal grants to the states for schools and roads,

Legal Brief Essay Example | Topics and Well Written Essays - 1000 words

Legal Brief - Essay Example (US Constitution, 1st Amendment) Art 1 of the New Jersey Constitution 1947 likewise forbids the â€Å"establishment of one religious sect in preference to another.† (New Jersey Constitution 1947, Article 1) Article 1 also forbids requiring a â€Å"religious or racial test†¦as a qualification for any office or public trust.† (New Jersey Constitution 1947, Article 1) The main issue with respect to these provisions was whether or not the New Jersey public school district’s educational policy as practiced with the display of secular and non-secular holidays on its school calenders offended these Establishment Clauses. Preliminary issues resolved before proceeding with the main issue included standing and ripeness. In other words the defendant School Board challenged the various defendant’s rights to pursue the action and whether or not the action contained a triable issue under the Constitutional clauses it was brought under. On the preliminary issues the court ruled that the since the educational policy had already been instituted the Constitutional issue was triable and therefore the action contained the necessary ripeness for adjudication. (Clever v Cherry Hill Board of Education, 1993) As for the issue of standing the court ruled that parents of children who were students in the school district had perhaps the greatest interests in the adjudication of the issues than anyone else. The parents would therefore remain parties to the aciton. (Clever v Cherry Hill Board of Education, 1993) The plaintiff Clever would also survive the challenge to standing since the court found that he had property in the area and was a taxpayer. Clever’s tax money was used to fund the school district thereby giving him an interest in the educational policy currently before the court. (Clever v Cherry Hill Board of Education, 1993) â€Å"Christmas and Chanukah are celebrated as cultural and national holidays

Logistics And Supply Chain Management Definitions Business Essay

Logistics And Supply Chain Management Definitions Business Essay In modern competitive business world, every organization strives for excellence. To achieve and maintain this, the organization needs to put in all necessary measures to remain competitive within the industry it finds itself. One of such measures is logistics excellence. (Durin et al 2011). A major contributing function for organizational excellence has to do with the management of its logistics. However in recent times, logistics excellence is taken for granted and presumed to be the norm, but only to be recognized when there emerges some major problem.  [1]   Since the Criminal Libel Law was taken off the statutes books in 2001, the Ghanaian media landscape is currently touted or hipped as one of the most independent media regimes in the West African sub-region. This has led to the proliferation of print and electronic media to the extent that the media market is currently becoming saturated.  [2]  According to the National Media Commission (NMC, 2006), Ghana has 106 newspapers made up of 11 dailies, 67 weeklies, 23 bi-weeklies and five tri-weeklies. More than 50% of the news papers currently in circulation have come into existence in recent years. Many of them have sprung up in the past five years, providing readers with a wide range of new publications. At national level, among the 11 national dailies, the state-owned Daily Graphic is the oldest and most widely-read newspaper in Ghana, and it is distributed in all 120 districts nationwide. Established in 1950 and 100% government-owned, the Daily Graphic currently has the highest circulation figure.  [3]  The companys leadership role in the print media as indicated above began before the advent of the repeal of the criminal libel law. It is interesting to note that Ghanaians casually refer to any media print at first glance as graphic. This not withstanding demonstrates the strength the company draws from this brand name. However, due to the proliferation of other print media as a result of the repeal of the criminal libel law, fierce competition has started to emerge within this industry. The state owned and private print media market is becoming saturated to the extent that almost all media prints virtually sell at the same price. An example of such are the, Ghanaian Times, The Mirror, The Ghanaian Observer, 90 Minutes, Accra Daily Mail, and the Weekly Spectator which sells at GH 1.50, whilst others like The Daily Guide, The Dispatch, Daily Graphic, The Guide, The Statesman and Business and Financial Times also sell at GH2.00. One way to retain customers and remain competitive and, at the same time increase bottom-line margins has been to cut down prices. Interestingly, price reduction in this instance may not be very possible because market shares are somewhat fixed and would lead to lesser margins instead. A better way for companies to still make profits and remain viable is to embark on an effective and efficient logistics management system (Christopher, 2011). This is because sales revenue increases would be more difficult to achieve than logistics cost reductions. The effective management of logistics activities such as customer service, distribution and reverse logistics would play significant roles alongside other logistics activities in improving an organizations stance in such an environment. Reverse logistics to a considerable extent is not well known and not practiced within the Ghanaian business environment. This is because logistics has been looked at in most instances from only one perspective. It has always been looked at from the point where products are manufactured, packaged, stored in a warehouse, sold, and then shipped to the customer and the process ends. However there are more dimensions to this. In addition to managing outbound goods, logistics managers are also responsible for the flow of returned goods, re-packaging, including customer service and final disposition of returned items.  [4]   Considering the print media for instance, the issue of unsold media prints could be looked at as waste since they cannot be sold the next day. The need to manage waste materials and returned goods is fast growing in all kinds of industries. Currently, companies notably Xerox, Eastman Kodak, Mobil, Home Depot, and Ethan Allen Furniture to name just a few, have recycling programs that meet the needs of their individual industries.  [5]  Although these are foreign companies, they derive numerous advantages and benefits from the relevance of reverse logistics practices. In a way these could be very much applicable to most organizations in Ghana for which GCGL is not an exception. Undoubtedly, most firms are now recognizing reverse logistics as a component of the total logistics management process. Stock (1998) and Hansen Harps( 2002) advocated that innovative firms that develop an expertise in reverse logistics activities and considers them as a set of business process adds value, generate revenue, improve customer satisfaction, achieve significant cost savings and gain competitive edge in their various markets. The GCGL stands the chance of gaining all these benefits as well as competitive advantage over its competitors in the area of cost reduction, enhanced quality, branding of their product and maximizing customers loyalty when reverse logistics practices are effectively adopted. Reverse logistics has the following benefits: Enhance Customer Service. The customers perspective is one key economic element driving organizations to develop reverse logistics strategy. Customers now consider returns policies when making purchasing decisions. If GCGL makes its returns policies more restrictive while its competitors continue to offer liberal returns policies, the firm will have placed itself at a competitive disadvantage. The whole purpose of logistics strategy is to provide customers with the level and quality of service that they require and to do so at less cost to the total supply chain. ( Rogers and Tibben-Lembke 1998) Distinguish itself with Customers. Embarking on an effective reverse logistics strategy will offer GCGL the opportunity to differentiate or distinguish itself with customers. This is because how a company handles returns is often evaluated by customers as an important factor to choose when a future purchase happens. According to Daugherty et al (2002), a well designed reverse logistics system can promote longer-term relationships. Furthermore, customers are more likely to buy from retailers who outperform other retailers on returns handling. Knock Off Competition. GCGL management will stands to benefit from the knowledge of the companys logistical performance which could be used to influence decisions and aid in the formulation of corporate goals and objectives to offset competition. Achieve Green Image. The GCGL by engaging in reverse logistics stands to gain a good environmental image with the customer which could invariably promote better customer relations. Having such an image can be part of a customer relationship strategy, especially due to the increase of environmental consciousness by society as a whole. The overall reverse logistics programme effectiveness will have indirect benefits for the firm, such as better corporate image or improved levels of customer satisfaction to retain customers and as well stand the competition within the industry. (Jayaraman and Luo2007) Need to Control Costs. Frequently, manufacturers treat recovery of products and packaging as an afterthought. A well-managed reverse-logistics program, however, can bring enormous savings in inventory-carrying, transportation, and waste-disposal costs.  [6]   Enjoys Goodwill. The goodwill associated with practicing an effective and efficient distribution and reverse logistics strategy has not been fully discovered by most companies in Ghana. The Goodwill that GCGL could earn from acting in a socially or environmentally responsible manner can produce real value. This can create substantial customer loyalty.(Rogers and Tibben-Lembke 1998) 1.2 Research Problem In Ghana intense competition within the print media industry has to a large extent stabilized the price ceiling of media prints. The situation has been aggravated by political influences as political parties have delved the opportunity of coming up with their own media prints to propagate party agendas. Whilst GCGL media prints specifically the Daily Graphic has been acclaimed a national newspaper, and hence mostly report on broad national issues, many others focus and take sides on political issues that would interest party members. As a result market shares are more or less stable and only sway when a particular media print covers a more topical or sensational issue that cuts across a general national interest. The likelihood of dwindling margins cannot be over emphasized in such circumstance. The more convenient means for GCGL to make profits is to embark on an effective logistic management to cut down logistics costs and to remain competitive in business. On the other hand most organizations have not fully embraced reverse logistics for reasons best known to them regardless of the benefits that could be realized on embarking on effective reverse logistics practices. The issue is that there is little demand for knowledge within the mindsets because it has been presumed that reverse logistics inherently deals with the least favored aspect of organizational activities (Hansen Harps, 2002). This is because most firms do not view reverse logistics as a core competence but as something to be ignored as much as possible (Hansen Harps, 2002). The print media products normally have life cycles ranging from a day to maximum of about a week. What happens to unsold products and those that are no longer of use to the consumer does not seem to derive much concern from the publishers. This situation does not only create loses but also goes to add filth to our environment causing health and other environmental problems in the long run. Conducting a research to unearth the best possible means for GCGL to improve upon its current logistics management trends and practices, to improve profit margins and as well create value for their products that have ended their life cycle is the main focus of this thesis. 1.3 Research Questions In order to identify the extent of logistics management activities that GCGL is currently engaged in and analyze them, the thesis would seek answers for the following questions: How are the logistics activities pursued in the organization? What distribution system is the company employing? How is return flows managed? 1.4 Research Objectives The study has the following objectives: To identify the logistics and supply chain activities the company is engaged in To identify and assess the effectiveness of the distribution system To describe and assess the impact of reverse logistics practices on profitability 1.5 Significance of the Study The study will bring out any shortfalls that are inherent in GCGLs logistics practices and inform management adequately to develop sound logistics plans. Additionally, it will serve as a reference document for the GCGL logistics department to effectively manage their day-to-day logistics activities. The study will also be beneficial to the companys third party logistics providers, as the document will assist them to adopt the appropriate logistics procedures and hence ensure effective communication and integration among them. The thesis will also be beneficial to other print media organizations as well as those in other industries to focus on reverse logistics strategy as a source of gaining competitiveness amongst others. 1.6 Limitation of the Study 1.7 Thesis Organization The study will be organized into five chapters. Chapter one is the introduction and will comprise the background, problem statement, aims and objectives and significance of the study. Chapter two is the literature review and will highlight existing definitions and works by researchers related to the area of study. Chapter three is devoted to the methodology used in this study. The chapter looks at the study area, design of study, data collection approaches, description of the study, sampling and the constraints/problems encountered and chapter four will summarize the major discussions of the study. Chapter five will highlight on the important issues in the summary and make recommendations. CHAPTER TWO LITERATURE REVEIW 2.1 INTRODUCTION Fierce competition in todays marketplace has forced business enterprises and organizations to invest in and focus on supply chain and logistics management to be more competitive and as well, remain in business. Logistics has now been seen as the growth and dynamic functions in the success of many different operations of an organization. Logistics activities such as distribution communication, customer service, inventory management, materials handling, packaging, and traffic and transportation procurement have led to the growth in telecommunication and transportation technologies (Rushton et al 2006). Whilst logistics is often seen as planning orientation and framework that seeks to create a single plan for the flow of products and information through a business, supply chain management builds upon this framework. It seeks to achieve linkage and co-ordination between the processes of other entities within the pipeline, i.e. suppliers and customers, and the organization itself (Martin Christopher 2011). A lot of research works on the concepts of logistics and supply chain management and their impacts on the successes and failures in industries and businesses have been carried out. This paper will therefore review aspects of the available literature and research works that view logistics and supply chain management in their definitive contexts with special emphases on activities that relates to customer service, logistics distribution systems and Reverse Logistics. 2.2 LOGISTICS AND SUPPLY CHAIN MANAGEMENT DEFINITIONS 2.2.1 Logistics Management The term Logistics originated from the military and was used basically to describe the movement of personnel and materials during wars and also in emergencies. It was later adopted by businesses and organizations and became a part of commonly used terminology in professional societies and academic programs, and was defined in various ways to satisfy trends and developments (Rushton 2009). The Council of Logistics Management (CLM), one of the leading professional organizations for logistic uses the term logistics management to describe the process of planning, implementing and controlling the efficient, cost-effective flow and storage of raw materials, in- process inventory, finished goods and related information from point of origin to point of consumption for the purpose of conforming to customer requirements (Lambert et-al, 1999). Alan Ruston et-al (2007) defined Logistics Management by the Council of Supply Chain Management Professionals (CSCMP) as that part of supply chain management that plans, implements, and controls the efficient, effective forward and reverses flow and storage of goods, services and related information between the point of origin and the point of consumption in order to meet customers requirements (CSCMP, 2006). Martin Christopher (2011) stated that logistics is the process of strategically managing the procurement, movement and storage of materials, parts and finished inventory (and the related information flows) through the organization and its marketing channels in such a way that current and future profitability are maximized through the cost-effective fulfillment of orders. Starting from the first definition, although these authors pointed out that the ultimate disposal, recycling and reuse of products should be considered as activities in logistics management, the CLM definition above was silent on them. The definition only took into consideration the forward aspect of logistics focusing on the end product reaching the final consumer according to consumers requirement. The questions here are that; what happens to the product if it does not conform to the customers requirement and also how will the product be managed after the final consumer has exhausted the full use of the product? In other words, CSCMP indicated and emphasized on forward and reverse flow and storage of goods, services and related information between the point of origin and the point of consumption in order to meet customers requirements. This definition to a considerable extent answers the questions which were ignored by the CLM as it considered reverse flows in addition. Martin Christopher stressed on how organizations could maximize current and future profitability through the cost-effective fulfillment of orders. Although the definition did not specifically mention reverse flows, it could be implied that such activities if undertaken could contribute to the organizations profitability. In summary, it could be mentioned with certainty that all the definitions above place some emphasis on logistics activities to typically include inbound and outbound transportation management, fleet management, warehousing, materials handling, order fulfillment, logistics network design, inventory management, supply/demand planning, and management of third party logistics services providers. Additionally the inclusion of sourcing and procurement, production planning and scheduling, packaging and assembly, and customer service were mentioned by Christopher. It is worth mentioning that logistics must be involved in all levels of planning and execution. This has to do with the strategic, operational and tactical levels. Planning at these levels should not be done in isolation else the synergy to be derived from the various functions would not be realized (Lambert et al 2009). Logistics management is therefore an integrating function, which coordinates and optimizes all logistics activities, as well as integrates logistics activities with other functions including marketing, sales manufacturing, finance, and information technology (Alan Mckinnon, 2001). It is essential that positive planning approach is adopted by ensuring that the operation is set up to run properly. The two parts of logistics management has to do with inbound and outbound logistics. One way to envisage the two concepts is about ensuring and managing that the operations are set up to run properly by doing the right thing or preparing for and planning the operation. Thus s upply and material management represent the storage and flows into and through the production process, whiles distribution represent the storage and flow from the final production point through to the customer or end user. Logistics management from this view point is the means whereby the needs of customers are satisfied through, the co-ordination of the materials and information flow that extends from the market place through the firm and its operation beyond that to suppliers. To achieve this, there should be a wide integration within the organization and also a synergy between the marketing and manufacturing within the organization rather than a fragment separate activities (Spekman, KamauffJr et al (1998) Logistics is therefore essentially an integrative concept that seeks to develop a system-wide view point of a firm. It is fundamentally a planning concept that seeks to create a framework through which the needs of the market can be translated into a manufacturing strategy and plan, which in turn links into a strategy and plan for procurement.  [7]   The CSCMP definition laid emphasis of logistics management being part of supply chain management which pre-supposed that other influences on the logistics activities abound to ensure their effective functioning. A working definition for Logistics Management for this thesis would therefore be the (CSCMP 2006), which states that, it is that part of supply chain management that plans, implements, and controls the efficient, effective forward and reverses flow and storage of goods, services and related information between the point of origin and the point of consumption in order to meet customers requirements. 2.2.2 Supply Chain Management Supply chain management has been mentioned in the (CSCMP 2006) definition for Logistics Management. It referred to logistics management as a subset of supply chain management. Meanwhile these two terms have been used interchangeably in most literature. Supply Chain Management has defined supply chain management as the planning and management of all activities involved in sourcing and procurement, conversion, and all logistics management activities. Importantly, it also includes coordination and collaboration with channel partners, which can be suppliers, intermediaries, third party service providers, and customers. In essence, supply chain management integrates supply and demand management within and across companies (CSCMP, 2006). Supply chain here is viewed as a single entity rather than series of fragment element such as procurement, manufacturing and distribution. It goes further to talk about the integration of information systems in the supply chain rather than merely acting in isolation for each of the separate component. It was further indicated that supply chain management is an integrating function with primary responsibility for linking major business functions and business processes within and across companies into a cohesive and high-performing business model Also, it included all of the logistics management activities noted above, as well as manufacturing operations, and indicated that it drives coordination of processes and activities within and across marketing, sales, product design, finance, and information technology (Martin Christopher2011) Christopher (2011) also defined supply chain management as the management of upstream and downstream relationships with suppliers and customers in order to deliver superior customer value at less cost to the supply chain as a whole. From the authors point of view, supply chain is the stream of processes of moving goods from the customers order through the raw materials stage from the supplier, down to the production process, work assembly, and distribution of products to the customer. He argued that supply chain management could be termed as demand chain management to reflect the fact that the chain should be driven by the market, not by suppliers. Also the word chain should be replaced by network since there will normally be multiple suppliers and, indeed, suppliers to suppliers as well as multiple customers and customers customers to be included in the total system. Extending this idea it has been suggested that a supply chain could more accurately be defined as a network of connected and interdependent organizations mutually and co-operatively working together to control, manage and improve the flow of materials and information from suppliers to end users (Christopher 2011). The CSCMPs and Martin Christophers definitions above both made mention of the fact that supply chain encompasses logistics management which is the supply, materials management and distribution but rather goes further to argue that supply chain incorporates suppliers, suppliers to suppliers , as well as multiple customers which seeks to achieve linkage and co-ordination between the processes of other entities in the pipeline and the organization itself through the sharing of information on demand. Chopra and Meindl (2007) defined supply chain as consisting of all parties involved, directly or indirectly, in fulfilling a customer request. They went on further to say supply chain includes not only the manufacturer and suppliers, but also transporters, wholesalers, retailers, and even customers themselves. Here the supply chain is referring to the customers need or what he or she intends to purchase. This implies that all the stakeholders that are involved in contributing their quota to satisfy the customer should work hand in hand to fulfill that purpose. Christopher (2011) finally indicated that all firms have supply chains of varying degrees, depending upon the size of the organization and the type of product manufactured and managing the chain of events in this process is what is known or referred to as supply chain management. He went further to state that effective management must take into account the coordination of all the different pieces of this chain as quickly as possible without losing any of the quality or customer satisfaction, while still keeping costs down. In essence, whilst logistics management deals with integration of functions within an organization, supply chain management takes care of this integration and extends it across firms in the supply chain. Figure.1 is a diagrammatic representation of logistics and supply chain management indicating how logistics is integrated in supply chain management. Raw material Components Packaging items Bought in part Imported materials Production process Work-in- progress Packaging unitization Finished goods Inventory warehouse Depots distribution End user Supply Materials management Distribution Suppliers Logistics customers Supply chain Supply side Upstream Inbound Demand side Down stream Outbound Information Transport Reverse Logistics = Supply +Materials management +Distribution Supply Chain =Suppliers+ supply +Materials management +Distribution+ Customer (Alan Ruston et al 2007: 5) 2.3 LOGISTICS AND SUPPLY CHAIN MANAGEMENT ACTIVITIES The domain of logistics activities is to provide customers with the right goods in the right place at the right time. It ranges from providing the necessary subcomponents for manufacturing to having inventory on the shelf of the retailer to having the correct quantity. The major issue that logistics attempts to resolve is to decide how and when raw-materials, semi-finished, and finished goods should be acquired, moved, and stored.  [8]   Ensuring an efficient, effective forward and reverse flow and storage of goods, services and related information as said by Rushton et al (2010) needs an effective and effecient logistics activities to be able to meet customers needs and wants at the right time, and at the right. Lambert et al (2008) and Langley (2009) both outlined the key activities required to facilitate the flow of a product from point of origin to point of consumption to meet the end user as follows: Customer Service Demand forecasting/ planning Inventory management Materials handling Order Processing Packaging Part and Service Support Warehousing and Storage Procurement/ Sourcing Return goods handling Reverse logistics Transportation Distribution Manufacturing 2.3.1 Customer Service Many attempts have been made to define the term customer service. However, depending on the organizations core business that its provides, customer service will differ. Lucas (1996) defined customer service as the ability of knowledgeable, capable, and enthusiastic employees to deliver products and services to their internal and external customers in a manner that satisfies identified and unidentified needs and ultimately result in positive mouth -to- mouth publicity and return business. Lambert et-al (1999) also used the term customer service to describe the process which takes place between the buyer, seller, and the third party. The process result in a value added to the product or service exchanged. He went on further to say that the value added in the exchange process might be short term as in a single transaction or longer term as in a contractual relationship. He again mentioned the value added is also shared, in that each of the parties to the transaction or contract is better off at that completion of the transaction than it was before the transaction took place. Lucas (1996) distinguished between internal customers and external customers. The internal customers he said comprised peers, co-workers, bosses, and subordinates, whilst eternal customers constitute vendors, suppliers, walk-in-customer, various telephone callers. Even though Lambert et al (2009) did not mention internal customers, he captured external customers in his definition and went on further to talk about value creation within the transaction period to achieve a cost effective way in the chain of activities. They stated that the value added products or services are enhanced when the time and place utility between the buyer and seller are met and as well expanded and considered. Such conditions are generally considered as the seven right of customer service. These are the right of quantity, cost, product, customer, time, place, and condition (Rushton et al, 2007). From the above, meeting the needs of customers should be very important in every organization even though it is very difficult in maintaining them and to achieve this is to make sure products and services are rendered at the right time, at the exact place in the right condition, at the right cost to add value to avoid customer complains. Rushton et al (2007), Lambert et al (1999), Christopher (2011) all emphasized on the element of customer service as, pre-transaction element, transaction element and post-transaction element. Where the pre-transaction element focuses on the companys policies concerning customer service. Transaction relates to element directly linked to physical transaction such as order cycle time, inventory availability, condition of goods, system accuracy, product substitution etc. Lastly those elements that occurred after the delivery has taken place is referred to as the post- transaction element and these include the installation of warranty, repairs and service part, return policy, customer complaints and claims. Customer service therefore plays a crucial role in organizations as far as growth and profitability are concerned. 2.3.2 Demand forecasting/Planning Demand forecast is defined as statistically based initial estimate of future demand. It is well indicated that a dem

Essay --

THE GOOD OLE USDA â€Å"United States Drug Addiction† I was laid back puffing on a phat stack of reasoning and sipping on some old memories just passing the time away this morning and decided to tap into my genius. Yeah, it’s me, Maestro; your (resident legal analyst) reporting to you live from the privacy of my own space. For those of you who don’t know, I am a graduate from the â€Å"School of Hard Knocks† with a PHd in Human ology. Let me be the first to inform you that I never made the â€Å"Fiends List†, in school and for the record, I never will. First and foremost, there is absolutely nothing traditional about my flow. So what! If my subject-verb don’t agree at times or my opinion comes from an Afrocentric point of view. â€Å"Can we just get along?† My sky scrapper is immune from media attack. So don’t try to intimidate me with your law—because I hit back. Like most of you, I listen to the news and social media to keep up with current events. Which is why I take my time to perceive each comment I make before I forget. So if what I say hurts you in any way, then indict me. Because as far as I’m...

Diffrenece Between Hypothesis and Theory Essay

Difference between scientific law, theory and hypothesis 551 words In the world were living in nowadays people, groups or even some nations each has a different way of thinking. That’s why opinions were created and people could have different prospectives and different ideas were developed all over the past centuries. That variation of ideas, prospective and ways of thinking had lead into the creation for methods for proving something as an idea an experiment a suggestion, and others. This essay would be discussing those ways and their differences. Firstly, the first thing that leads into an opinion or way of seeing something is setting up your hypothesis, hypothesis is an educated guess based upon observation for a certain matter. It is an explanation of a single event or something based on what is observed not deeply observed but just observed, and it also has not been proved yet. Most hypotheses can be supported or disproved by experiment or a deep observation. Some examples of hypothesis are, when an apple is put in the wind and sun it will rot, this is a simple example it’s based on what’s observed as when an apple is put in the sun it would rot but no further scientific explanation is given. After a hypothesis is set based on really weak and shallow observations it must be tested for that opinion or idea to be true it must be tested and observed scientifically and not only once it must be tried and observed a number of times, that what develops a theory and obeys scientific laws, a scientific law is a statement of fact that explains a certain matter or different action or habits. It is generally accepted to be true and universal and can be proved and tested widely and sometimes they could be written as mathematical equations. Scientific laws must be simple, true and universal. Going back to a theory it is noted as more like a scientific law than a hypothesis. It is an explanation and prove for your hypothesis and sets of related observations or events based upon proven hypotheses and verified multiple times. A theory could hold on a definition as it is the way people could know this certain idea or issue is true by repeated xperiments whom tern a hypothesis into a theory or it just keeps it a hypothesis untested. Some examples of scientific laws are some physics and maths rules as Newton’s laws of motion, law of gravity, the laws of thermodynamics and other physics laws whom are proved and tested that’s why they turn into a scientific law. Sometimes some laws can turn to theories as the law of gravity and gravitational forces, as it could go mor e general to be turned into a theory. The biggest difference between a law and a theory is that a theory is much more complex and dynamic. A law runs a single action, whereas a theory explains an entire group of related matters and phenomenas. That’s what differs an experimented hypothesis whether it turns into a theory or it is more specified so it turns to be a law, an example of a theory is automobiles Components of it can be changed or improved upon and more things invented in it, without changing the overall truth of the theory as a whole that it is an automobile.

Making Hiding Haelo in the Reedsy Book Editor

Making Hiding Haelo in the Reedsy Book Editor Making Hiding Haelo in the Reedsy Book Editor Tara Holladay is the author of Hiding Haelo. We're thrilled to share with you that she used the Reedsy Book Editor to print her book with Amazon's KDP Print. Since we felt that being able to export a print ready file straight from your browser will empower many authors who want to self-publish, it was a proud moment for us when we actually saw this beautiful book for the first time. Read on to know how Tara went from manuscript to printed book.My fellow Reedsy-ites, I am a perfectionist. When it came to Hiding Haelo, the first book in my YA series, I wanted every step of the way done right. Years of writing, editing, marketing prep, and an incredible amount of industry research brought me to a point of exhilarated exhaustion. (Just go with me on that. It totally makes sense in my head.)   Each step both thrilled me with progress and hammered me with work.I'm also a voracious reader, at one point plowing through five or six novels a week. (Pregnant. Six months of bed-rest.) A signif icant portion of those novels were cheap, self-published Kindles. At six a week, they had to be cheap. I saw every self-pub mistake in the book. Literally. Both on the voice/plot/content end of things, and the proofreading/formatting end of things. It drove me crazy.The Reedsy Book EditorAs thrilled as I am with the final printed novel, I greedily look forward to the updates. The Editor is really good, and it's only getting better.I still get butterflies when I think back to day my first printed â€Å"proof† copy arrived at my doorstep. What an incredible time to be an author! There is an unprecedented amount of resources at our fingertips. With more resources, comes higher quality. And higher quality allows indie author-publishers a bigger stake in influencing the publishing industry. The reputation with self-published books is changing for the better.Props, Reedsy. You’ve given us authors the ability to format a clean, beautiful book. And I now have a bigger budget f or marketing than I would have otherwise. I can’t wait to see what else is in store for the future.You can find Hiding Haelo on Amazon here!Have you tried using the Reedsy Book Editor yet? If so, what's your experience been? We're working on making it better every day, so please leave us your thoughts in the comments!

How to Write a Perfect Retail Resume (Examples Included)

How to Write a Perfect Retail Resume (Examples Included) Retail might not be the most glamorous career around- complete with aching feet and a perma-smile that hides your suspicion that the customer is not always right- but if you’ve ever been on those front lines, you know how essential your services are. We’re a society of consumers, and retail professionals are the ones who keep that cycle going. If you’re an experienced retail sales associate or someone just starting out, we’ve got you covered. We at TheJobNetwork have put together a guide accompanied by resume templates on creating the perfect retail resume. Let’s look at three different retail professionals: One entry level, one seeking seasonal retail employment, and an experienced sales associate looking to become a manager.1.Entry Level  Retail Sales Associate Resume2.Seasonal Retail Sales Resume3.Retail Sales Manager ResumeFirst up: Bella, who’s seeking her first job in the retail world.Download This Resume in MS WordBella opts for a fu nctional, or skills-based resume, because she doesn’t have a lot of retail-specific experience to showcase (yet). So she puts her best qualities and her skills up front, to underline her summary statement: that she’s looking to take the skills and work ethic she already has and turn that into a retail job/career. She also presents herself as a recent grad, which can let the reader know up front that she probably doesn’t have years and years of experience behind her. Bella prioritizes her strongest skills (her responsibility/dependability, her ability to work with the public, and her familiarity with handling transactions), then her awards/certifications (which emphasize her reliability and her professional successes), then her experience, and finally, her education.Bella’s experience is mostly in food service, and includes part-time jobs. She includes the part-time jobs because those helped develop skills she listed above, like customer service and an out going personality. Bella’s high school experience is important to note, because she has completed her diploma, but unless her school experience is directly relevant to the job she’s applying for (in this case it’s not), she wisely just lists the school and the diploma.Let’s look at Marty, who has more experience, but is seeking a seasonal retail position (back-to-school, holiday season, etc.) rather than a full-time gig.Download This Resume in MS WordMarty puts his cards on the table up front: he’s a student, he has retail experience, and he’s not looking to put a ring on it- he just wants to find a gig for the upcoming holiday season. He opens with a detailed summary, with a brief statement and then a handful of bullets outlining his deal. An important point in his bullets: that he’s available to work a variety of shifts, which is key for a store looking to hire someone to come in and get their hands dirty even when others are at hom e eating leftover turkey.Next, he lists his experience, to show that he’s a pro at the seasonal holiday game. He may have other jobs along the way, but he’s not looking for a career here- he focuses on the seasonal retail experience he already has, so that the reader doesn’t have to cut through a bunch of information that isn’t necessarily relevant to the immediate goal of hiring for a brief period.Our final retail resume-writer is Erica, who’s got a lot of retail associate experience behind her, but wants to jump up a level in the store management food chain.Download This Resume in MS WordErica’s resume shows an accomplished retail professional. But what she needs, if she wants to apply for higher-level retail jobs and not associate-level jobs, is to show that she has demonstrated leadership. Thus, the first skill she lists is rallying team members (check) to increase sales (check-plus) in her experience. The remainder of her skill bullets are used to show the breadth of her retail experience. This format, the skills-based resume, is helpful for someone like Erica, who wants to emphasize that she has what it takes to step into a bigger role, not just the kind of job she’s already had. Even though she’s not changing career paths, she’s trying to change up her career within that path, and this format can be useful when you want to show what you can be, in addition to what you’ve already done.Erica also provides as much detail as possible, without crowding her resume. The overall sales of her current store, with some concrete stats on how she’s helped increase sales, are very impressive, and don’t take up much space in the resume. Erica is letting results do the talking for her. An interview is a great chance to provide more context than resume bullets allow, but whenever you have specific numbers and information you can include, that will likely catch the attention of the reader and help get you into the next round. Erica also goes out of her way to include various awards, which show she’s been a superstar at her current job. Overall, the picture here is of someone who has been successful, and has the drive to keep going and improving sales.

Diet and Digestion Essay Example | Topics and Well Written Essays - 2500 words

Diet and Digestion - Essay Example These include monosaccharaides, disaccharides and polysaccharides (BRYNIE 2002, pg14). Proteins mainly aid in replenishing worn out tissues and are composed of strings of amino acids. On the other hand, fats, responsible for tendon maintenance can be grouped into saturated or unsaturated fatty acids. Essential fatty acids such as the omega 3 and omega 6 constitute building blocks of the body (JACOB 2013, pg22). The 13 different types of vitamins and minerals such as calcium and potassium constitute the micro nutrients necessary for body function. They can be obtained from the main diet or other sources. Breakfast: cereal, fresh fruit juice, ripe banana. Lunch: boiled pasta, steamed broccoli, fried fish fillet, nuts such as wall nuts or ground nuts and water (a few minutes after meal). Diner deep fried chicken, vegetable and fruit salad, fried fresh spinach and water (a few minutes after meal). Breakfast: oatmeal, banana, fresh fruit juice. Brunch: egg sandwich, 3 medium mango slices, hot beverage. Lunch Swanson chicken dumplings, mango slice or pineapple slice, fried rice and peas stew. Diner: spaghetti, meat balls and steamed broccoli. It is recommended that on daily basis, the meals of elderly patients should include five to twelve portions of grains, five to ten portions of vegetables and fruits, three portions lactose products and three servings of alternatives of meat or meat itself In simplest terms, the process of digestion is the only way in which nutrients and foods can be broken down and absorbed as useful energy or beneficiary compounds in the human body. For this purpose, digestion plays a more pivotal role in overall human health and development than most individuals would otherwise indicate. Without this vital and pivotal process, essential nutrients and energy could not be broken down and ultimately passed along into the bloodstream

HRM CASE STUDY Example | Topics and Well Written Essays - 1750 words

HRM - Case Study Example Wal-Mart stores, Target corporations and toys for us were the retailer out lets through which most of the revenue the company had in 2000. The company has gone through many ups and down for many reasons. The growth by acquisition strategy adopted by CEO Jill Barad had failed showing an 82.4 million loss in 1999. following the heavy loss Jill Barad was replaced by Robert Eckert, who decided against a cost cutting strategy to amplify the profit. He better focused on work force management, giving its managers sophisticated training which included the global leadership program and seminars on leadership. How did the strategy of training managers to become leaders ultimately turn out to be The workforce strategy was aiming at developing effective teams. Trying to foster teamwork and brake down the silo mentality with in the organization was a Herculean Task for the prevailing corporate set up of Mattel. What were the challenges they came across during the process The purpose of this paper is to go beyond the information given by Mridu Verma (2007) and to analyze and critically evaluate the strategy in the light of today's human resource management capabilities and limitations in the corporate circumstances. In order to understand the intensity of the developments and the fruitfulness of the out come close look at the company background is essential. Mattel's was founded by Elliot and Ruth handler in the year 1945. Gaining from the absence of quality and verity in the toy's market the company had recorded a $100,000 sale in the first year even with the least experience they had. The company made use of the popularity of television westerns when they have introduced toy replicas of the classic western guns and holsters in 1957. Later on they introduced Barbie Doll with its clothes and accessories, the company kept on conquering the market with its sale on the increase hitting the $100 million mark in 1965. By the end of the decade they were the world's number one toy makers. It was the time when the company established and developed itself with diverse operations into a world wide enterprise with a host of acquisitions. Some of those major acquisitions are Dee & Cee Toy in 1962, Standard plastic Products Hong Kong Industrial and Precision Moulds in 1966, Rosebud Dolls in 1967, monogram models and A&A Die casting in 1968, Ratti Vallenscasca, Mebetoys, Ebiex, H&Hpalstic Company and Met frame in 1969. However, in spite of the acquisitions by the year 1985 Mattel fell behind the Hasbro as the world's largest toy Maker. The 70s have seen many financial irregularities and finally a new management under former vice president Arthur S. Spear had take control of the organization in 1975, by when many of the business acquisitions the company had were running on loss. "John W. Amerman, who became the CEO in 1987 moved to quickly to cut Mattel's overhead by closing 40% of the company's manufacturing capacity, including plants in California, Taiwan and the Philippians. He laid of workers at Mattel's corporate headquarters in California saving at least 30 million annually. He turned the company around by focusing on brand names with staying power such as Barbie and hot wheels and by making selective investment in the making of new toys. Despite a