The Reasons For Choosing The Retail Industry Finance Essay - Free Essay Example

This thesis is designed to give long-term investors suggestion on which companys share Morrisons, Carrefour and Lianhua should be invested based on fundamental analysis. In this thesis, there are five parts to help long-term investors evaluate the three companies external environment, internal environment and potential development in the future. Then, give long-term investors suggestions investing which company has more benefits with few investment risks. Lianhuas largest shareholder is Shanghai Friendship Group Incorporated Company and it owns 34.03% (Annual Report of Lianhua 2011), but the government only owns 25.95% of Shanghai Friendship Group Incorporated Companys share (Annual report of Shanghai Friendship Group Incorporated Company). So Lianhua is not controlled by the government directly and its shares are freely traded (more details about trading rights on Hong Kong share market see Appendix 5). According to the accounting policies written in Morrisonss annual report  [1]  and Carrefours annual report  [2]  , both Morrisons and Carrefour prepared their financial statements based on International Financial Reporting Standards (IFRS).Also, at the beginning of 2005, companies listed on Hong Kong market should follow International Financial Reporting Standards established by The Hong Kong Institute of Certified Public Accountants. Lianhua (Chinese company) is listed on the stock market in Hong Kong and Lianhua follo ws International Financial Reporting Standards  [3]  . Different accounting standards may influence the result of research, but in this case that problem doesnt apply because all companies work under the same accounting standards. Situation scheme: The reasons for choosing the retail industry According to an article called Retail Industry Information (2011), it described the retail industry is an important part of economy and it includes individuals and companies that engage in selling the finished goods to end users  [4]  . The competition of the retail industry is very fierce but it is an industry worthy of being invested as this industry is little influenced by rates, inflation and the control of government (Jiang Min, 2011). Also, many European companies are influenced by the financial crisis and European Debt Crisis, but the retail industry is less influenced by these factors when compared with other industries (Johny and Claudiu, 2012). According to an article called Global Retail Industry 2012-2017: Trend, Profit, and Forecast Analysis (2012), it stated that Rising GDP growth, burgeoning population, greater disposable income, and increasing consumer spending are combining to drive the global retail industry and opportunities for retail segment players  [5]  . So the retail industry is appealing to investors because the retail industry has broad space for growth and it also makes investors have a profitable investment with lower risks. Retail Industry Information (2011) also stated that many U.S. and European retail chains are expanding globally, and opening stores in emerging markets and in countries with thriving economies, also India, China, and Dubai are fertile retail grounds that global retailers are working to cultivate in 2010  [6]  . The expansion of the U.S and European retail chains means that the retail industry has a good prospect for development and provides investment opportunities for the investors. Based on fundamental analysis, this research will help long-term investors understand which companys share has the highest value for investors to invest. The reasons for choosing these three companies Although these three companies (Carrefour, Lianhua, Morrisons) are in different sizes, their rate of growth is rapid. It means that these three companies have a lot of development in the future. Some investors will consider that they can get some long-term benefits from investing into these companies. Also these three companies follow the same accounting standards (IFRS)  [7]  . So, investors can get reliable financial information when they compare three companies financial statements. Then the investors can use the reliable financial information to judge these three companies operating performance. Description of the problem Investors can get the high benefits from long-term investment on shares, but the high interest of investment is along with the high risks. This research aims at providing recommendations to long-term investors that which companys share (Carrefour, Morrisons and Lianhua ) should be invested based on fundamental analysis, in order to help the long-term investors to reduce investment risks and make a profitable investment. Structure of main part of thesis: The main question of this thesis is Which retail companys share (Lianhua, Carrefour and Morrisons) should be invested for long-term investors after the evaluation of the companies performance by using fundamental analysis? In order to answer this question, this thesis is divided into 5 parts. Firstly, this thesis will point out the definition of fundamental analysis and the reasons, methods of using fundamental analysis. Secondly, this thesis will examine the whole economic environment and use the PESTEL theory to analyze the external environment where the three companies operate. Thirdly, this thesis uses the SWOT theory to identify the internal and external factors of the three companies. Next, it chooses the PE ratio to help evaluate the three companies shares and judge whether the three companies shares are overestimated or underestimated. Lastly, using financial ratio analysis helps to analyze the three companies operating performance and then conclude whether their perform ance is healthy or not. In the end, this thesis will give long-term investors suggestions which companys share should be invested. Methodology: Research Methodology: This project started with studying the book called Doing research: The How and Whys of Applied Research which is written by Nel Verhoeven in 2008. This book involves four steps which are design, collect, analyze and evaluate. This project is written according to these four steps. Step 1: Design Picking a topic Firstly, How to invest a companys share can gain more profits with lower investment risks? is a hot issue, so this research chooses the topic about investing a companys share. Secondly, according to request of the teacher from Saxion University of Applied Science, this research chooses three companies which are Carrefour Supermarket, Lianhua Supermarket Holdings  Co.  Ltd, Wm  Morrison  Supermarkets  plc. Also, according to 4P principles this research identified the people is the long-term investors who want to invest a company. The Problem is it is hard for the investors to decide which companys share shoul d be invested to gain more profits with lower risks. The next is Program, which is used to evaluate the effectiveness of an intervention. The last one Phenomenon is to establish the existence of regularity. Demarcating the research project This research identified the central question is Which retail companys share (Lianhua, Carrefour and Morrisons) should be invested for long-term investors after the evaluation of the companies performance by using fundamental analysis? based on the choosing topic. After that, this research uses five sub questions to discuss a few specific aspects of the central question in more details. In the end, making a time schedule for each part of the project and including some contingency buffer make sure that finish the research before the deadline. Step 2: Collect This thesis used the secondary research to conduct research. A lot of data and information is analyzed by using the secondary research. It contains Lianhua, Morrisons and Carrefours annual report and news report, articles about the retail industry, financial newspapers and magazines. The following search engines have been used to identify abstract summaries of relevant articles: Google scholar Scirus BASE, Vascoda Saxion University of Applied Sciences library database Article: The following journals provide some articles. Academy of Management Journal Journal of Management Studies Management Science Journal of Financial Journal of Financial Management Journal of Internet Research There are some reasons to use the secondary research. Firstly, secondary research is a time-saving and cost-saving method to acquire information. Secondly, it is accessible especially in a University Library. Thirdly, there are some resources only being found by the secondary research, for example, official statements of the three companies (Lianhua, Morrisons and Carrefour). There are several reasons for not choosing the primary research. Firstly, the primary research will take much money to be conducted since the data has to be collected. Secondly, conducting the primary research cost much more time than just acquiring secondary data. Thirdly, some primary researches are not feasible. So the primary research is not an efficient method to gather information as the chosen companies (Lianhua in China, Morrisions in UK and Carrefour in France) are in different countries. Step 3: Analyze This research will use PESTEL theory, SWOT theory, financial ratio theory and Relative Valuation theory to conduct fundamental analysis. PESTEL analysis is used to analyze the external macro environment where a business operates  [8]  . PESTEL stands for political, economic, social, technological, legal and environmental factors  [9]  . This research will use the PESTEL model to analyze external macro environment of the three companies (Lianhua, Morrisons and Carrefour). Then long-investors will know how the external env ironment influences the three companies further performance in the retail industry and whether investing these three companies can gain more benefits with lower investment risks. SWOT analysis is a scan of the internal and external environment of a company. The internal analysis can conclude a companys strengths and weaknesses. The external analysis can conclude a companys opportunity and threat.  [10]  In this research, it will use SWOT model to analyze each companys internal environment including strengths and weaknesses and each companys external environment including opportunity and threat. So SWOT analysis makes long-term investors identify these three companies competitive advantages and disadvantages over their rivals and it also will point out these three companies external chances and external threats that affect their performance in the market. Thus, the long-term investors can know the investment risks of investing these three companies. Financial ratio analysis is the calculation and comparison of ratios which are derived from the information in a companys financial statements. Financial ratio analysis groups the ratios into categories which tell us about different facts of a companys finances and operations. Leverage Ratios show the extent that debt is used in a companys capital structure. Liquidity Ratios give a picture of a companys short term financial situation or solvency. Profitability Ratios use margin analysis and show the return on sales and capital employed. Solvency Ratios give a picture of a companys ability to generate cash flow and pay it financial obligations.  [11]  The financial statements can be got from three companies annual reports (Lianhua, Morrisons and Carrefour). In this research, financial ratio analysis helps investors see the three companies operation and financial situation. The long-term investors will know each companys financial structure, financial risks and operating performance in the market. Then, the long-term investors can know investing which company will gain more profits with lower investment risks. Step 4: Evaluate After conducting Fundamental analysis covering SWOT analysis, PESTEL analysis, financial analysis of three companies, this research draw the conclusions based on the analyzing results to answer the central question and make the recommendations. 2. Analysis of Lianhua, Morrisons and Carrefour 2.1 Definition of Fundamental Analysis and the reasons for using it Introduction: In this chapter, it will describe the definition of fundamental analysis and the reasons to use it. It also describes the ways to use the fundamental analysis. And all the information could help the long-term investors have a good overview about the fundamental analysis. 2.1.1 Definition of Fundamental Analysis: Fundamental analysis is used to investigate the fundamentals of the three companies (Carrefour Supermarket, Lianhua Supermarket Holdings  Co.,  Ltd, Wm  Morrison  Supermarkets  plc) to determine whether the company is worthy of being invested. The article introduction to fundamental analysis (2012) stated that there are two ways to conduct fundamental analysis, which are quantitative analysis and qualitative analysis  [12]  .The quantitative analysis is to study the three companies financial statements to evaluate the companys financial performance. When examining the companys financial performance, it can use financial ratio theory (trend analysis and vertical analysis) to compare a companys current performance with its historical performance and its competitors current performance. The qualitative analysis will give the investors a more deep insight of the three companies. Graham, B., Dodd and D.L.F (1934) also stated that the qualitative an alysis will be used to evaluate the performance of a company, the scenario of the industry and economic environment a company operates. 2.1.2 The reasons for choosing fundamental analysis: There are many reasons for choosing fundamental analysis. Firstly, fundamental analysis is very helpful for long-term investment based on long-term trend as it predicts long-term demographic, technological or consumer trends, so long-term investors can choose the right industry groups or companies. Secondly, good fundamental analysis helps investors identify companies that represent a good value and disclosure a companys valuable assets, a strong balance sheet, stable earnings, and staying power. Thirdly, the key revenue and profits drivers will be known by the investors after fundamental analysis. The fundamental analysis also makes investors understand the key value drivers and companies within an industry. A companys stock price is affected by its industry group. Lastly, fundamental analysis makes the investors have a deep understanding of a companys business and better position themselves.  [13] Also, the technique analysis focuses on analyzing the short-term trend of a co mpanys shares price. The technique analysis predicts a companys shares price whether increase or decrease in a short period. As this thesis aims at giving long-term investors suggestions, so this thesis chooses to use fundamental analysis to help long-term investors choose which companys share should be invested. 2.1.3 The ways for conducting fundamental analysis According to an article called Fundamental Analysis (2012), it described that fundamental analysis combines economic, industry, and company analysis to derive a shares current fair value and forecast future value  [14]  . At the company level, fundamental analysis will examine a companys financial data, management, business concept and competition (Fundamental Analysis, 2012). Analyzing a companys financial data mainly contains earnings, growth, and value in the market (Ken Little, 2012). Analyzing the qualitative factors of a company includes the analysis of the management team, the analysis of the business model, the analysis of the competitive edge and the analysis of corporate governance policies (Fundamental Analysis of Stocks: Qualitative Factors of the Company, 2012)  [15]  . At the industry level, fundamental analysis will examine the supply and demand of the products in the market (Fundamental Analysis, 2012)  [16]  . The factors sustainability of industr y, growth of industry, companys market share of industry, amount of competing companies and regulations surrounding the industry will be analyzed (Fundamental Analysis of Stocks: Qualitative Factors of the Industry, 2012)  [17]  . For national economy, fundamental analysis may rely on economic data to evaluate the present and future growth of the economy (Fundamental Analysis, 2012)  [18]  . 2.1.4 Conclusion: This chapter told long-term investors the definition, the reasons and methods of fundamental analysis. It shows why this thesis uses fundamental analysis to help long-term investors to analyze a companys share before their investment. This chapter helped the long-term investors know how to use the fundamental analysis to decide whether the retail industry is worthy of being invested and it also helped long-term investors know how to analyze the shares of Lianhua, Carrefour and Morrisons. The current economic factors influencing the retail industry and the PESTEL Analysis of three companies Introduction: The retail industry is an important part of economy and it includes individuals and companies that engage in selling the finished goods to end users (Retail Industry Information, 2011)  [19]  . Also, the retail industry is influenced by economic factors. Besides, the global economy is slowing down, with a likely slower growth in 2012 than that of 2011 in many global leading markets is written in an article called Global Economy Outlook (2012)  [20]  . So this chapter will analyze the economic factors that influence the retail industry in details. In this chapter, it also uses the PESTEL model to analyze external macro environment of the three companies (Lianhua, Morrisons and Carrefour). Then it helps long-term investors know how the external macro environment influences the three companies. 2.2.1 The economic factors influencing the retail industry: The global economic recession which begins 2008 has big influence on the profitability of the retail industry (Diana Wicks, 2012). The global economic recession also influence other factors like consumer trend and access to credit, which is essential to the growth of the retail industry (Diana Wicks, 2012). Low sales lead to low profitability and then it will slow down the growth of the retail industry (Diana Wicks, 2012). The retail industry is influenced by consumer spending greatly and retail sales have close relationship with liquidity and preservation of capital (Christina Pomoni, 2011). The recent slowdown of real estate, increase in energy prices, tight credit lines and general market uncertainty makes a general slowdown of consumer-driven economic growth (Christina Pomoni, 2011). The retail industry can find some silver linings from the cloudy environment and one positive effect of slower global growth is that it will dampen the price of commodity (Global Economic Out look, 2012). It will help the retailers make an improvement on the cost side of the ledger (Global Economic Outlook, 2012). At the same time, Global Economic Outlook (2012) said that a lot of countries including US, Japan, Several western European countries and many leading emerging markets are seeing higher retail price inflation and the stagnant input price suggests possibility of improved profit margins, even in the context of slow top line growth.  [21] After shrinking by 0.2% in the first three months of 2012, the UK economy returned to recession (UK economy in double-dip recession, 2012). There was a decrease in production industries and construction by 0.4%, 3% respectively, while the services sector including retail increased by 0.1 % (UK economy in double-dip recession, 2012). Under the frustration of European debt and weak economy of its trade partners, the growth rate of Chinese GDP will slow down, but Chinese consumption trend still maintains positive as domestic peoples income still continues increasing in china and Chinese government continue launching new policies to expand domestic demand(Rizhong Li,2012). The retail sales have fallen to the second lowest level on record in the three largest euro zone economies (German, France and Italy) and also there was a biggest drop in sales due to the presidential elections since the survey begins in 2004 in France (Eurozone retail sales fall to lowest level since 2008, 2012). 2.2.2 PESTEL model for Lianhua, Morrisons and Carrefour: PESTEL analysis (political, economic, social, technological, legal and environmental factors) is used to identify and analyze the key drivers of change in the business environment (Finn Orfano, 2011). PESTEL analysis allows the companies to assess the current environment and potential changes (Finn Orfano, 2011). PESTEL analysis contains political factors, economic factors, social factors, technological factors and legal factors. Political factors can be known that how the government policy influence the company, for example, tax policy, trade restrictions and tariffs and inter-country relationships, political trends, types of government, war, terrorism, treaties and currency (Renee OFarrell, 2012). Economic factors can be known the monetary impact on the company and the examples include exchange rates, interest rates, inflation, import/export levels, consumer confidence, capital markets and job growth rates (Renee OFarrell, 2012). Social factors can be known that facto rs caused by societys changing tastes, preferences and demands and the examples include disposable income, age distribution, population growth rate, education, diversity, living standards and cultural attitudes(Renee OFarrell, 2012). Technological factors are research and development, new innovations and advancements, transportation, communications and the Internet (Renee OFarrell, 2012). Environmental factors include climate change, climate and weather, as well as attitudes toward the environment (Renee OFarrell, 2012). Legal factors refers to the country in which the company does the company, include antitrust law, consumer law, employment law, health and safety law, and corporate law (Renee OFarrell, 2012). 2.2.3 PESTEL analysis for Lianhua: Political: Chinese government pays much attention to the development of the retail industry (Haiyan Lin, 2011). Since 2009, Chinese government has the policy about created funds for the development of the service industry and rural logistics (Haiyan Lin, 2011). And this will create many opportunities for the development of local companies. As a Chinese local company, Lianhua get a lot of help and support from Chinese government which provides a broad space for the development of Lianhua in the future. Economic: Although the GDP growth of China is estimated to drop from 11.9% in 2007 to 8.2%in 2012(Economist,2008), Chinese domestic demand still remains strong in the next following years as Chinese overall wage growth will lead to the increase of consumption (Aaron Back and Esther Fung, 2011). As a Chinese local company, the strong demand of Chinese domestic market provides a good opportunity to increase the profits of Lianhua in the future. Social: Consumer Confidence Index fluctuated significantly because of food safety incidents (Li Hongfei, Li Ning and Zhang Wenhuan ¼Ãƒâ€¦Ã¢â‚¬â„¢2012). But Lianhua has established food safety department and food inspection center and set up long-term food safety supervision mechanism (The Standard Finance, 2011), which will make Lianhua have the competitive advantages in the retail markets. This will be a good sign for long-term investors to investing Lianhua. Technological: Lianhua Supermarket Holdings  Co.,  Ltd integrated the OMS( Operations Management System) of all supermarkets under the Lianhua and Hualian brands to ensured consistency and accuracy of data and unified flow in business, logistics, information and capital with shared information (Ma Xinsheng, 2012). The adoption of information system consolidation enhanced ability of outlet operations and information management, which provide an effective platform for Linahuas whole operation. The effective operation make Linahu a save cost which helps Lianhua gain competitive advantages over its competitors on cost-saving. Environmental: The Chinese government is promoting environmentally friendly and asking the supermarket to reduce package (Promoting Environmentally Friendly Enterprise in China, 2009). The Office for National Statistics (2010) has found that the percentage of consumers using reusable bags has risen and that those cut down the number of plastic bags from the supermarket. Lianhua follow this legislation and do not supply free plastic bags. This cut down Lianhuas overall cost and is helpful for Lianhuas image of corporate responsibility. Legal: According to the Low Pay Commission Report, there has leaded an increase in the minimum wage of 19.7% Report (Chengji Yin, 2012). The increasing wages will make an increase of operating costs of Lianhua, which will decrease the profits. 2.2.4 PESTEL analysis for Morrisons: Political: Currently, the large supermarket chains expanded their activities to supply financial services including credit cards, loans and deposits in Europe (Financial Services Authority, 2010). So the supermarkets are forced to follow the legislation and regulations enacted by the Financial Services Authority in 2010. Thus, it makes a change in Morrisonss financial services or regulation, which will affect Morrisonss profitability. Economic: UK faced economy weakness, weak consumption, rising consumption and debt crisis in Europe in 2011 (Diao Qian, 2011). It will have a big influence on Morriosonss sales as the poor economic situation make people become uncertainty about their future, so more people spend less money in the supermarket and when consumers buy the daily essentials, they prefer to buy cheap products (Edward Garner, 2011). In this situation, it frustrates Morrisonss sales and profit. Social: Edward Garner, director at Kantar Worldpanel ¼Ãƒâ€¹Ã¢ €  2011 ¼Ãƒ ¢Ã¢â€š ¬Ã‚ ° said that shopper trade down to cheaper products and retailers with a low-price message are the driving force in the market. The changes of peoples trend influence Morrisons market share. According to the data from BBC News, it shows that the market share of Morrisons decreased from 12.8% in 2011 to 12.3% in 2012. Technological: Morrisons applied the advanced technology on driving store productivity, tackling indirect procurement and revamping its operation system (Olivia Midgley, 2012). Morrisons adopted the advanced technology to improve its operational efficiency. In the long run, the improvement of operational efficiency will reduce Morrisonss operational cost. This will make Morrisons have the competitive advantages over its competitors. Environmental: Environmental issues become serious and urgent in recent years, each company should obligate its responsibility to protect environment (Oxford University Press, 2012). Morrisons condu cts its social responsibility of protecting environment by reducing waste throughout its direct supply chain. Morrisons will use its unique vertical integration business model to minimize waste during manufacturing, distributing and selling its products (Annual Report of Morrisons, 2011). This system will benefit Morrisonss business financially and environmentally. This system not only helps Morrisons save cost of operation, but also protects the environment, which build a good public image for Morrisons. Legal: Food Retailing Commission forced to use standard pricing in UK (R.YUVARANI, 2011). So retailers can not to change the prices without any notice and it should not demand the payment from suppliers. And Morrisions operates in a fair competition environment and Morrisons do not worry about its competitors using illegal methods to win its current customers. 2.2.5 PESTEL analysis for Carrefour: Political: The European Commission published the new Animal Health Strategy based on the principle that prevention is better than cure (European Commission, 2012). According to this policy, Carrefour should focus on precautionary measures, disease surveillance, controls and research, which will need Carrefour to increase the level of system to make sure food safety. Economic: The emerging markets provides many opportunities such as their high market size and a large number of potential consumers for Carrefour to increase its turnover as the emerging markets are growing faster and it emerges new segments and needs when the GDP per capita increases(Hellal Mariem, 2011). Although the new emergent markets are interesting, there still exist some risks for Carrefour to invest in. In these emergent markets, the emergent markets have a lower GDP per capita ($8,300 in Brazil and 6800 in China) than the developed countries ($29,600 in France or $30,100 in UK) (Hellal Mariem, 2011). Social: The price of products has big influence on the consumers decision-making process for mass commodity goods influenced by the financial crisis and European debt crisis (Josep-Francesc Valls, Marà ­a Josà © Andrade, Raquel Arribas, 2011). Consumers are sensitive to the price of products and prefer to buy products with lower price (Josep-Francesc Valls, Marà ­a Josà © Andrade, Raquel Arribas, 2011). Carrefour launched Discount range in 2009 to meet a fundamental consumer need to optimize peoples purchasing power without comprising on the brands quality (Annual report of Carrefour, 2011), which will make Carrefour attract more customers. Technological: There are a whole range of iPhone TM and Android TM apps available and designed to make shopping easier (Annual report of Carrefour, 2011). Carrefour adopted new Mes courses (My Shopping) application to allow its customers shopping whenever and wherever they want by using their iPhone TM, which makes customers easil y and quickly get access to the products they want (Annual report of Carrefour, 2011 ). There are over 700,000 downloads of the Carrefour mobile apps in France (Annual report of Carrefour, 2011), which is a good sign for Carrefour to increase sales. Environmental: Recently, the retail industry has been influenced by the growing desire to protect the environment and people are more likely to buy environmentally friendly products (Oxford University Press, 2012). So, Carrefours Quality Line specifications contains the criteria like Animal stocking density, equipment to improve comfort at all rearing stages as well as transport and slaughtering conditions (Annual report of Carrefour, 2011). The Carrefours international Central purchasing department also banned all products made with natural fur and all animal testing for its cosmetic product (Annual report of Carrefour, 2011). Legal: As Carrefour is an international supermarket and it is influenced by legal environment where it operates (Hellal Mariem, 2011). Some countries legal barriers may hinder the expansion of the retail industry (Hellal Mariem, 2011). Carrefour has met some tax disputes in Brazil, Argentina, France, Belgium and Spanish, and it has disputes with its current and former employee (Annual report of Carrefour, 2011). These disputes curb Carrefours expansion and frustrate its profits. 2.2.6 Conclusion ¼Ãƒâ€¦Ã‚ ¡ For Lianhua Lianhua will have a better development environment in the future as Chinese government has the policy for the development of the retail company in China (Haiyan Lin, 2011). But the legislation of Chinese government to increase 19.7% of minimums wages (National Minimum Wage, 2012) increase the administration cost of Lianhua. Also the Consumer Confidence Index fluctuated dramatically because of the food safety accident (Li Hongfei, Li Ning and Zhang Wenhuan ¼Ãƒâ€¦Ã¢â‚¬â„¢2012), but Lianhua has established the food safety department to gain the competitive advantages in the Chinese supermarkets (The Standard Finance, 2011), which benefits for the long-term investors investment. Although Lianhua is influenced by the decrease of the GDP, the personal income growth leads to an increase of consumption (Economist, 2008), which will increase the sales of Lianhua and make long-term investors have the profitable investment. For Morrisons Financial crisis and Europe an debt crisis (Financial Services Authority, 2010) have influence on the sales and profits of Morrisons as people prefer to buy low-price product in the supermarket (Edward Garner, 2011). This situation decreased 0.5% market share of Morrisons (Edward Garner, 2011) which will decrease the benefits of long-term investors and increase long-term investors investment risks. But the advanced technology can help Morrisons gain competitive advantages over its competitors as the improvement of operational efficiency (Olivia Midgley, 2012), which is beneficial for long-term investors. Also Morrisons used unique vertical integration business model to protect environment (Annual Report of Morrisons, 2011), which not only helps Morrisons save cost and build good public image, which will decrease the long-term investors investment risks. In addition, the Food Retailing Commission provides a good competition environment for Morrisons (R.YUVARANI, 2011), which will decrease the long-term investor s investment risks. For Carrefour The expansion of Carrefour is influenced by the tax disputes in Brazil and Spanish ¼Ãƒâ€¹Ã¢â‚¬  Hellal Mariem, 2011 ¼Ãƒ ¢Ã¢â€š ¬Ã‚ °. For long-term investors, legal problems are uncertainty factors for Carrefours expansion, so investing into Carrefour may be very risky. The strong demand of emerging market attracts Carrefours attention and Carrefour has successfully entered into some emerging market ¼Ãƒâ€¹Ã¢â‚¬  Hellal Mariem, 2011). The entry into emerging market will bring more opportunity for Carrefour the increase of sales, which will win more interests for the long-term investors in the future. But there still have some potential risks such as the lower GDP in Brazil (Hellal Mariem, 2011) which will increase the long-term investors investment risks. Also, Carrefours Quality Line Specifications ensured its product safety and protect the animals (Annual report of Carrefour, 2011), which will make a good image of Carrefo ur. Besides, Carrefour can adopt Iphone TM and Android TM technology, which can help Carrefour increase its sales as there are over 700,000 download in France (Peng Qi, 2012). This will help long-term investors gain more benefits in the future. The strengths, weaknesses and core competence of Lianhua, Morrisons and Carrefour Introduction ¼Ãƒâ€¦Ã‚ ¡ In this chapter, it will use SWOT analysis to help the long-term investors indentify the three companies internal strength, weakness and external opportunity, threat. A SWOT analysis is a tool used to measure a companys strengths, Weaknesses, opportunities and Threats (Liz DiPardo, 2012). Strengths are internal factors favorable for the business plan (Liz DiPardo, 2012). Weaknesses are internal factors harmful for the business plan (Liz DiPardo, 2012). Opportunities are external factors potentially help improve the business (Liz DiPardo, 2012). Threats are external factors that potentially harmful to the business plan (Liz DiPardo, 2012). SWOT analysis is used to help a company investigate new opportunities and solutions to the problems, help the company make the right decision, find new changes and revise its plans (Val Renault, 2012). The advantages of SWOT analysis contains that it just used a little time for the managers to understand how the b usiness runs and anyone with a basic understanding of business can perform this analysis (Jennifer Uhl, 2012). 2.3.1 SWOT analysis for Lianhua, Morrisons and Carrefour: 2.3.2 Lianhua: Strengths: Lianhua Supermarket Holdings  Co.,  Ltd centralized procurement for previous Lianhua and Hualian supermarkets (Aastocks Finance, 2012). Increased centralized procurement from quality suppliers will enhance barging power and gross profit margin. Thus, Linahua will gain competitive advantages over its competitors. Lianhua Supermarket Holdings  Co.,  Ltd integrated the OMS ¼Ãƒâ€¹Ã¢â‚¬  Operating management system ¼Ãƒ ¢Ã¢â€š ¬Ã‚ °of all supermarkets under the Lianhua and Hualian brands to ensure consistency and accuracy of data and unified flow in business, logistics, information and capital with shared information (Aastocks Finance, 2012). All of these will enhance ability of outlet operations and information management which laying solid foundation for further business growth. Lianhua adopts management technology including purchasing technology, logistic technology and information technology, and this management technology helps Lianhua decrease its cost by 10% for its whole operation (Li Woke, 2012). The decrease of cost will help the Lianhua gain competitive advantages over its competitors as Lianhua can set lower price of products than its competitors. The profitability of Lianhua kept a stable increase from 2007 and 2011 ¼Ãƒâ€¹Ã¢â‚¬  See appendix 1.1 ¼Ãƒ ¢Ã¢â€š ¬Ã‚ °The increase tendency of the past five years shows that Lianhua have the competence to gain more profits in the competitive markets for long-term investors. Weaknesses: Lianhua had a highly leverage from 2007 to 2011, it means most of Lianhuas asset were supported by debt and Lianhua should pay a lot of interest every year (See appendix1.2). As Lianhua will pay fixed interest for its creditors annual year, the profit of Lianhua will be influenced. Then, the benefits for long-term investors will be influenced. Opportunities: Income of urban citizens grew by 14.1% from 2010, and after deducting price factors , increased by 8.4% in real terms (Report on the work of the Government, 2012). The increase of peoples income is an opportunity for Lianhua as people have more money in hand. With the development of further urbanization, higher resident income levels and improvements in the social security system in China, there will be ample room for the development of the retail industry (Report on the work of the Government, 2011). Consumer Confidence Index fluctuated significantly because of food safety incidents (Li Hongfei, Li Ning and Zhang Wenhuan ¼Ãƒâ€¦Ã¢â‚¬â„¢2012). It is an opportunity for Lianhua as Lianhua has established food safety department and food inspection center and set up long-term food safety supervision mechanism (The Standard Finance, 2011) Threats: As some global retailers entered into the markets of China, the competition is very fierce (Zhang Yi, 2005). The entry of international retail companies into Chinese market may decrease the market shares of L ianhua, which may lead a decrease to Lianhuas sales and profits which may increase the long-term investors investment risks. 2.3.3 Morrisons: Strengths: Morrisons offer fresh things and has the space lab (UK Retailers, 2011). The fresh product is a competitive advantage. The fresh products not only can attract more customers but also help Morrisons create brand awareness. Morrisons has consistent financial performance, For example, its profit margin increased from 1.99% in 2007 to 3.99% in 2011(See appendix1.1 ). Morrisons builds a strong position in the market of UK. Morrions still can hold 12.8% market share in the UK after impressive sales as some consumers choose to buy discounters such as Aldi and Lidl (Ben Sillitoe, 2011). Weaknesses: Morrisons had a limited liquidity during 2007 and 2011, although its current ratio, quick ratio and cash ratio was improved year to year during the five years (See appendix1.2). Opportunities: According to a market research, it stated that online sales are anticipated to increase by 67% during 2010 and 2014 (Retail Markets Today and Tomorrow, 2011). So this would be a opportunities as Morrisons plan to invest kiddicare.com for  £70m and FreshDirect for  £32m to launch the e-commerce activities in the coming two years (Annual report of Morrisons, 2011) Threats: According to news called The Economy of the UK, GB, British Isles (2012), it described that the UK faces struggles to recover from the 2008 financial crisis  [22]  . Organization for Economic Co-operation and Development (OECD) made a report and ranked UK as the slowest growing economy in the G7, with the exception of Japan  [23]  . Morrisons is a local supermarket in the UK and it mainly operates in UKs market, so the slow growth of economy in UK has a big influence on its financial standings The decrease in peoples income and the increase in unemployment harm the spending power of the consumers and affect the buying behaviors of consumers, which will frustrate the sales of Morrisons, especially non-food items ¼Ãƒâ€¹Ã¢â‚¬  Ben S.Bernanke, 2011). It may be a threat for Morrisons as people spend less money in the supermarket which will influence Morrisonss sales. 2.3.4 Carrefour: Strengths: The strategy of Carrefour aimed at achieving organic, sustained, profitable growth in excess of the broad market growth rate. The strategy has two levels which are client-oriented and culture transformation. For client-oriented, it means getting to know our customers better in order to serve them better. For culture transformation, it means increasing agility, execution quality and competitiveness. ¼Ãƒâ€¹Ã¢â‚¬  Anurag Bhargava, Gaurav Tripathi, Nirvan Rustagi and Yudhvir Singh, 2011) Carrefour owns a lot of supermarkets in different areas and countries like Europe, Argentina, Brazil, China, Colombia and in the Dominican Republic, some shops in North Africa and other parts of Asia, which can balance its profits (Annual Report of Carrefour, 2011). It owns different formats of stores in different markets to balance its profits. It owns hyper markets, supermarkets, hard discount and convenience stores (Retail Business Review, 2012). Weaknesses: Carrefou r has a declining profit margin from 2007 to 2011. The profit margin declined from 3.16% in 2007 to 0.64% in 2011(See appendix1.1). Carrefours selling and administrative expenses increased a lot from 2007 to 2011(See appendix1.1). Carrefour did not have a good leverage from 2007 to 2011(See appendix1.2). Opportunities: Retail Industry Information (2011) also stated that many U.S. and European retail chains are expanding globally as the economy in their home country is recovering, opening stores in emerging markets and in countries with thriving economies, also India, China, and Dubai are fertile retail grounds that global retailers are working to cultivate in 2010  [24]  . Expanding in emerging market bring more opportunities for Carrefour in the global market. Carrefour is the leading retailer in terms of organic product sales in France (Annual report of Carrefour, 2011). And The organic food trend of today is growing ever-stronger, and not just for vegetables ev en though at one point organic purchases totally over 40% of all organic buys (Carl Copeland,2012). So this will benefit Carrefours sales. Threats: As the economy do not recover absolutely, customers lack confidence in shopping (Clemons, E.K., 2008). People will spend less money in the supermarket, so the sales of Carrefour will be influenced to some extent. Prices and quantities of materials are strongly influenced by global demand but also by policies in the countries and prices for many raw materials have increased significantly over the past few years (Niels Frank and Rainer Ladermann, 2011). It is a threat for Carrefour as the increasing material price has already led a decrease of Carrefours net income by 1.3% from 2010 to 2011 (Annual report of Carrefour, 2011). 2.3.5 Conclusion: Lianhua adopted modern management technologies to improve companys operational efficiency to control cost on its normal operation, which will benefit the long-term investors investment (Li Woke, 2012). In addition, long-term investors can trust Lianhuas ability of gaining more benefits for them according to Lianhuas stable increase in its profits from 2007 to 2011 ¼Ãƒâ€¹Ã¢â‚¬  See appendix 1.1). But the high leverage of Lianhua (See appendix1.2) may increase the long-tern investors investment risks as Linahua has heavy burden to repay its debt. The growth of income of urban citizen and development of further urban citizen provides Lianhua a good opportunity to increase its sales and profits (Report on the work of the Government, 2012), so it makes the long-term investors have fewer investment risks. The continuous improvement of Morrisonss profit from 2007 to 2011 proves that Morrisonss ability of gaining profits (See appendix1.1), which will decrease the long-term invest ors investment risks. Besides, Morrisons has gained a competitive advantage by offering fresh products (UK Retailer, 2011), so it can benefit the long-term investors investment. And online sales are anticipated to increase by 67% in 2014 is an opportunity for Morrisons to launch the e-commerce activities, which is beneficial for the sales of company Retail Markets Today and Tomorrow, 2011). But the debt crisis in Europe (The Economy of the UK, GB, British Isles, 2012), the decrease in peoples income and the increase in unemployment in UK ¼Ãƒâ€¹Ã¢â‚¬  Ben S.Bernanke, 2011) will have a negative effect on the development of Morrisons in the future, which will increase the long-term investors investment risks Increased selling and administration expenses of Carrefour had negative influence on Carrefour profit margin and Carrefours profits had a decrease trend from 2007 to 2011 (See appendix1.1), so it will increase the long-term investors investment risks. In addition, custome rs lack confidence in shopping as the economy do not recover in Europe (Clemons, E.K., 2008), which will have negative influence on Carrefours sales in the future and increase the investors investment risks. Although the entry into emerging markets exist a lot of uncertainty factors, the expanding in emerging market will bring more market shares for Carrefour in the global market (Retail Industry Information, 2011),which will benefit the long-term investors. To conclude, although Carrefour has different formats of stores in different supermarkets to balance its profits and opening stores in emerging market provide the opportunity for the global development, the threat of Financial Crisis and Europe Debt Crisis have influence on the Carrefours sales. Also the decreasing profit and increasing administration cost from 2007 to 2011 is not beneficial for the long-term investors and the highly leverage and limited liquidity will increase the long-term investors investment risks. Howeve r, both Lianhua and Morrisons performed better on their solvency than Carrefour and they kept their profit on increasing trend during 2007 and 2011. And the higher income of Chinese citizens and further urban development provides Lianhua more opportunities to develop in the future which is beneficial for long-term investors. And the expected increase of online shopping provides Morrisons an opportunity to increase sales. But the decreased peoples income and increased unemployment in UK will increase the long-term investors investment risks. So investing Lianhua will help long-term investors make a profitable investment with lower investment risks according to SWOT analysis.

Personal Values and Ethical Issues Essay - 1531 Words

Personal Values and Ethical Standards Shelley Fischer BSHS 331 October 11, 2011 Jenise Caetana Personal Values and Ethical Standardss I was born in the late 1950s and spent my childhood in the 1960s and teen years in the 1970s. My upbringing was shaped very much, by how I was taught and raised. My parents were both members of a conservative religious organization and so with that said I learned this way of thought. We were raised to believe that the 10 commandments were the basis of all things right and wrong, that if we followed them our lives would be as God wanted. Not to mention our parents! As a child, we first believe all that our parents teach us. They are like God to us and must be right no questions asked. I had by then†¦show more content†¦However, I do know from then on I had no belief in him as my father or in the goodness of grown men. Because of my family dynamics I didn’t tell anyone, but I remember being so angry and telling myself I would never let that happen again and if he ever touched me I would tell my mom. I went through life seemingly fine on the outside and was known by all to be a good girl. What people did not realize is that I was emotionally dead in my soul. I trusted no one and especially not myself. I never told another person until I was 26 and did not go into therapy until I was 33. There is so much that I learned through my counseling and it is primarily the reason I want to be a counselor now. I feel that in spite of what happened to me the basic belief in the Bible and God is what have gotten me to where I am today. Counseling has also helped me to address issues I ignored for too long. I can empathize with others in many areas of molestation, anger repression, family dynamics, and learning to know and love yourself. 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Racial Discrimination Against Aboriginal Australians From...

â€Å"Just another drunk black is what u said, When u came n helped him today, Your eyes were filled with a look of disgust, As you came and took him away. Who the hell are you to judge him, I ask, Do you think ur s*** really don t stink? Just because he has dark skin, Doesn t mean he always drinks. Guess what hero, he wasn t drunk, He had a fit and was really unwell, U can take ur prejudice Ambo driver, And stick it up ur butt and go to hell. People like you make me sick, And you have the hide to hold ur head up high, It s nice to know with people like u around, Prejudice will never die†¦Ã¢â‚¬  This famous poem by Indigenous Australian Colleen Kickner (George, 2015) highlights the extreme racial discrimination against Aboriginal Australians from the point of view of an Indigenous individual, specifically in regards to the consumption of alcohol. The somewhat vulgar language as well as being slightly comical in a way, paints a very good picture of how strongly Kickner feels towards the prejudice shown and assumptions made by the (presumably) non-Indigenous first responders to an emergency situation. These assumptions and stereotypes that she draws the readers’ attention to are wide spread throughout the non-Indigenous community of Australia, reiterated by the media and sometimes even strengthened by government policies. One example in particular being the ‘Northern Territory Intervention’. 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Contact Zones Essay - 1325 Words

The reader is introduced to a term coined and repeated by Pratt throughout the piece, contact zones. She uses this term to refer to social spaces where cultures meet, clash, and grapple with each other, often in contexts of highly asymmetrical relations of power, such as colonialism, slavery, or their aftermaths as they are lived out in many parts of the world today (Pratt 584). Contact zones were not necessarily a positive interaction because these social interactions usually came out of ignorance resulting into an obdurate conflict. Dubois The Negro in the United States and Griffith’s The Birth of the Nation, and Pratt’s very own Arts of the Contact Zone correlate through Pratt’s terminology of contact zone, autoethnographic texts,†¦show more content†¦In this movie the African Americans were treated nicely but in reality they did not feel this way. The masters mistreated their slaves but in the movie they were actually having conversations. There is a scene in the movie where a group of African Americans were shaking hands with the white Americans. The producer of the movie wanted to inform others that the â€Å"birth† of America was founded on the basis of equality rather than discrimination. If the producer of the movie did not show how the slaves were mistreated, the people will just see the world in only that point of view; the slaves’ point of view does not exist. Ruling countries oppressed both the undeveloped, barren places and the African Americans. The Birth of the Nation is a perfect example of a form of travel writing; the Americans wanted to inform others about America but this movie was only produced in their perspective. Rather than recording the reality, the produces or writers record history with the input of their own influences. Slavery is a contradictory subject in American history because â€Å"one hears†¦of the staid and gentle patriarchy, the wide and sleepy plantations with lord and retainers, ease and happiness; [while] on the other hand on hears of barbarous cruelty and unbridles power and wide oppression of men† (Dubois 2). Dubois’s The Negro in the United States is an autoethnographic text which is a representation â€Å"that the so-defined othersShow MoreRelatedContact Zone588 Words   |  3 PagesMary Louise Pratt defined contact zones as â€Å"social spaces where cultures meet, clash, and grapple with each other, often in contexts of highly asymmetrical relations of power, such as colonialism, slavery, or their aftermaths as they are lived out in many parts of the world today.† A contact zone is a place where two cultures can mesh together. People from different cultures are able to interact with each other through these contact zones. 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William Moliere s Tartuffe As A Threat Of Reason

The Role of Reason in Religion What happens when hypocrisy invades religion in the absence of reason? This is the very question that Moliere addresses in Tartuffe as he establishes his characters. In satire characters are usually very one dimensional and unchanging. They are simply there to represent an idea. Therefore, rather than using character development, Moliere uses character establishment to shape his story and theme. This is most notably seen in the last two scenes of act one in Tartuffe as he establishes the characters of Orgon, Cleante and Tartuffe. In the establishment of these three characters Moliere forms a strong point about reason’s role in religion and the rightful way to pursue genuine belief. In the last scenes of act one in Tartuffe Orgon’s character is established by his attitude towards his family, his misplaced concern for Tartuffe and his blindness towards Tartuffe’s hypocrisy. As Orgon makes his entrance into the story, he inquires of his brother-in-law that state of his estate. Dorine reveals that the lady of the house has been very sick even going as far to say that a bleeding â€Å"has saved her from the grave.† Orgon takes the information in without acknowledging it. His only concern is for Tartuffe, the religious man he has taken in and aspires to be like. This nonchalant attitude toward his family reveals disconnect between him and his family that is only made up for in his relationship to Tartuffe. This replacement of a practical stranger for

Ipod Decision Making Process Free Essays

Describe and explain the characteristics that affect consumer behaviour and outline the consumer decision-making process as it relates to Apple iPod Introduction ‘Consumer purchases are influenced strongly by cultural, social, personal and psychological characteristics’ (Kotler, Armstrong, Wong Saunders). This report will investigate the characteristics that affect consumer behaviour and the consumer decision-process as it relates to the purchase of an Apple iPod. This report will be describing and explaining how consumers go through five different stages to reach a buying decision and outlining the consumer decision-making process when a consumer buys a product. We will write a custom essay sample on Ipod Decision Making Process or any similar topic only for you Order Now The Apple iPod is a brand of portable media players and was launched on October 2001. There are four different types of players, which can play both music and videos, including the ‘iPod Classic’, ‘iPod Touch’, ‘iPod Nano’ and the ‘iPod Shuflfe’. The Apple ‘itunes’ software can be used to transfer music to the iPods from computers. Both the Sony Walkman and Samsung YP-P2 are the iPods biggest competitors and have the same touch screen control panel. They both can hold similar amount of music to that of an iPod. ‘Mintel forecasts that the UK audio equipment market will grow by an estimated 8% to reach a value of ?2. 2 billion at current prices over the period 2007-12. In real terms, with massive price deflation for electronics taken into consideration, this equates to 100% rate of growth until 2012. (mintel, accessed at 19th November 2009) ‘Market growth since 2006 for the Apple iPod has been in decline due to the high pricing scheme of the devices although price cuts like those applied to the iPod shuffle on Tuesday and cheaper Internet –capable models down the line should help the company reverse course and maintain a steady rate of growth through 2009, says one Wall Street analyst’, (http://www. appleinsider. com/articles/08/02/20/growth_potential_seen_in_steadily_maturing_ipod_marke t. html 20th February 2008). The Apple iPod is aimed at young adults aged between 12-25, both males and females. The Apple iPod is aimed at people in the middle/high class and for those who have a particular interest or passion in music. The report will also provide a discussion of the type buying behaviour related with Apple iPods and compare the process with a less complex product, such as a bottle of water in this report. Marketing recommendations will then be given for the purchase of an Apple iPod. The Characteristics that Affect Consumer Behaviour It can be seen that cultural, social, personal and psychological are the four characteristics that influence consumer behaviour. This section will describe how some of the characteristics associate with consumer behaviour when purchasing an Apple iPod. For the social characteristic influence, this can be that the person who is buying an iPod can be influenced by friends, family or any other groups the person is part of, a friend of the person may recommend an iPod to be the best portible audio player to purchase, which would then give the consumer more confidence to buy an iPod. Inspirational groups, such as celebrities who could be seen using an iPod, might have also influenced consumer behaviour. This may influence a consumer, due to the status of a celebrity. Personal characteristics such as the age of a person can affect consumer behaviour. In this case a consumer may be in an age group where it is cool and common to have an iPod, so this would be more of a want for the buyer to have the product. An Outline of the Consumer Decision-Making Process Type of Buying decision behaviour This section of the report will discuss the type of buying decision behaviour associated with the Apple iPod. The decision behaviour for the buyer of an iPod would be complex buying behaviour due to the high cost of the product and is mainly purchase infrequently. It could be said that the consumer has much to learn about the product and may have little knowledge about the product before making a decision to purchase it. For example, an iPod buyer may not know what functions of the product to consider. ‘Many product features carry no real meaning to the great majority of potential purchasers’ (Kotler 2008 page 263, p1). This can relate to the iPod when looking at the memory size and price of the product, a customer may not know the difference between a ‘10GB iPod and a ‘160GB’ iPod. So the buyer will pass though a learning process, first developing attitudes, and then making a thoughtful purchase choice’ (Kotler 2008, page 263, p1). So for marketers of an iPod, they must understand the way a consumer gathers information and the evaluation behaviour of a high involvement product. The advertising and size of the iPod may be used to help make it easier for a consumer to understand what the memory size is of an iPod. Dissonance-reducing buying behaviour can be associated with the buying of an iPod, due to how expensive the product is and how infrequent it is purchased. For example, consumers buying an iPod could face a high involvement decision because of the high price of an iPod compared to a low involvement product such as a toothbrush and how the product can express the consumer, such as the which style and colour of iPod suit the consumer best. The Consumer may evaluate and do some research into the types iPods, prior to the buying decision to make give them more knowledge of the product. An explanation of each stage of the decision-making model This section of the report will explain each stage of the decision-making model for a buyer of an iPod. Below is the five-stage decision making process, buyers go through when they purchase a product. ‘The buying process starts with need recognition – the buyer recognising a problem or need’ (Kotler 2008, page 265, p4). The first stage of the decision making model is where the consumer has recognised a problem or a need. Need recognition In relation to the iPod, is where the consumer has recognised that the product is available to buy and may have dissatisfaction with their current portable audio player. The iPod is not necessary a need, such as food or water. It is more of an individual want and the consumer may have more income spare to purchase an iPod. The purchase of an iPod could be mainly because of its appeal. ‘A need can also be triggered by external stimuli. Anna passes a bakery and the smell of reshly baked bread stimulates her hunger; she admires a neighbour’s new car; or she watches a television commercial for a Caribbean holiday’. (Kotler et al 2008, page 266 p1). This statement states that external stimuli can trigger a need. In relation to the iPod, the external stimuli could be an advert on television or someone in the public using an iPod, who seems to be having a fun with the product. The second stage of the decision-making model is the information search stage. This is the stage where a consumer is aroused to search for more information about the product they have been attracted too in the need recognition stage. ‘The consumer may simply have heightened attention or may go into active information search’ (Kotler et al 2008, page 266 p2). Heightened attention simply means the consumer becomes more receptive to information about a product. The consumer may pay more attention to adverts and products used by friends. Active information search is where the consumer gathers information, such as searching reading material or phoning friends to gather information, this usually depends of drive of the consumer to search for information about a product. ‘The amount of searching she does will depend upon the strength of her drive, the amount of information she starts with, the ease of obtaining more information, the value she places on additional information and the satisfaction she gets from searching’ (Kotler et al 2008, page 266 p2). This statement explains that the more a consumer wants a product, the more searching for information about the product will occur. In relation to the Apple iPod, a consumer may have been aroused by external stimuli such as an advert on television and then may go through active information search, where the consumer can obtain information from any of the following sources: * Personal sources: Family, friends, neighbours Commercial sources: Advertising, salespeople, the Internet, packaging, displays * Public sources: Mass media, consumer-rating organisations * Experiential sources: Handling, examining, using the product Personal sources can be the most effective for some products, as friends and families recommendations can be more reliable than an advert on television. As more information has been gathered from the above sources, the consumer’s knowledge of the iPod increases. The consumer may know the different types of iPods available and their features that best suit the con sumer. The third stage of the decision-making purchase is the information evaluation or evaluation of alternatives. This is the stage of the decision-making process, where the consumer uses information from the previous stage to evaluate other brands, products and services. The consumer also evaluates the benefits and features of the product they are going to buy. For high-involvement products such as the Apple iPod, the consumer is more likely to carry out a more extensive evaluation. Such as evaluating the advantages and benefits of the product they are interested in purchasing. How to cite Ipod Decision Making Process, Essays

Impact on the transport system due to rise - Myassignmenthelp.Com

Question: Discuss about the Impact on the transport system due to rise. Answer: Introduction For every country, Infrastructure development is very important for its growth and development. Infrastructure development included the development of transportation system in the country. Transportation system can be defined as a mode which is used to move goods from one place to another. Over the period of time, the transportation system has become advanced and effective. Advancement of transport is dependent upon various factors such as lifestyle of people, population, advancement in technology, etc. (Taylor, 2015). Traffic conjunction Traffic conjunction can be described as a condition which results in slow movement of traffic. Traffic conjunction can be related to any mode of transportation but it is usually said in the context of vehicle conjunction on roads. The main reason that results in traffic conjunction is inefficient traffic management or excessive population on road than usual. In Australia, traffic conjunction can be seen during peak hours in cities like Perth, Brisbane, and Sydney. People of Australia generally uses radios, GPS, webcam etc. to avoid such traffic conjunction. Disadvantages of traffic conjunction include time wastage, air pollution, noise pollution, increase in accidents, waste of fuel resources, etc. (Jain et.al, 2012) Traffic problems due to increase in population One of the main problems with increasing traffic in the world is a rapid increase in population. As numbers of people are increasing in the world they require modes of transportation for travel. Nowadays the motor vehicles are very affordable and can be purchased by anyone with little money. This has resulted in an increase in a number of personal vehicles which ultimately results in excessive traffic on the road (Harrietet.al, 2013). Hence we can say the improved economic and financial condition of the population has also affected the traffic conjunction on the public roads. Conceptual framework Traffic management Traffic management is very important as in absence of traffic management traffic conjunction can have various negative impacts. Here we will discuss the commonly used method of traffic management in Australia. Sydney Co-ordinated Adaptive Traffic System (SCATs) is used to manage traffic in Australia. Adaptive Traffic control System is a technique which uses real-time data relating to traffic to decrease the stop time and prevent traffic conjunction. Traffic data is collected in SCATs with the help of local controllers installed at every intersection. The data collected by these local controllers are sent to a regional computer which is then sent to mainframe computers for traffic management (Fernando et.al, 2013). Vehicle users A private vehicle is more commonly used by people of Australia as compared to public transportation. There are nearly 13.3 million vehicles registered with the department of vehicles. Vehicle to people above driving age ratio is 1 to 1.37. That means that there is one vehicle for every 1.37 people who are above permissible driving age (Redman et.al, 2013). Public transportation is not that commonly used in Australia. Public transportation in the country includes buses, urban rail/Commuter rail, light rail, watercraft. In a research conducted to evaluate the reason for not using public transportation, the majority of people said that their time does not match with timing of public transportation. Traffic density Traffic density is a statistical term which is used to represent traffic per mile or kilometer and it is expressed in terms of the vehicle per km. it is a measure used to compare traffic in different areas and helps in traffic management. Over the last 40 year, the traffic per person in various cities of Australia has increase effectively. Traffic density is directly affected by various factors such as petrol prices, recession, unemployment rate etc. (Gargett, 2012). Population density From 2009 to 2011, the population of Australia has increased rapidly with around 400000 people increasing per year. This increase is around the size of Canberra, whose population was 357220 in the last census. It means that population of Australia is increasing per year by the population of Canberra. The reason behind this increase is natural i.e. increasing in birth rate and a decrease in death rate. This increase is expected to continue in future. The government has predicted that if the population is increased with high growth rate then the population of Australia will increase to 43 million in 2061 (Krockenberger, 2015). Literature review It is expected that by 2030, the population of Melbourne will be 5 million and it is expected to increase to 6 million in 2040. To deal with social and economic requirements of this population transportation operation of the government has evolved. It is very important to promote and develop public transportation system as this amount of infrastructural development can result in various environmental damages. Excessive road transportation can result in problems such as excessive traffic, noise pollution, air pollution, etc. Rail transportation can be alternative as it is very efficient as compared to road transportation (McGuirk Argent, 2012). In future, it is planned by the government to develop rail transportation and make the people aware of the advantages of using this transportation system. Rail transportation is a most efficient method to deal with the rapidly increasing population. Various researchers have shown that in previous years more money is spent on development of road transportation as compared to rail transportation. Therefore in future, more money should be invested in rail transportation as it is the best viable option (Lai Chen. 2011). As per researchers, 40 percent of the pollution is generated by road transportation which is very significant. But the road transportation is not expected to decrease in future. One of the biggest reasons behind this is peoples attraction toward new technologies adopted by car manufacturers. Public transportation such as buses and rail transportation will not only present environment pollution but it will also help in the prevention of natural resources (Redman et.al, 2013). We all know the fact that natural resources such as fuels are scare and such resources will extinct in future. Therefore it is our responsibility to save these resources and public transportation can be helpful in this process (Chourabi et.al, 2012). Traffic conjunction in Sydney and Melbourne is very high and it is spreading all over Australia. Traffic conjunction is so high that it is expected to have a negative impact on the overall economy of the country. In 2011, the cost of such delays has cost the country $13.4 million. This is due to the fact that such delays cost the employees in time wastage and such time could have been used by them in a productive manner. Increased traffic is expected to increase cost in future as the government has to incur the cost of environmental pollution. The government has to take serious steps in major cities like Sydney, Brisbane Perth, and Melbourne. Due to improvement in financial status and living standards of people, every person has a personal car. They prefer private transportation instead of public transportation. This trend is expected to increase in future unless some drastic improvements are done in public transport system. It is obvious that such large of a number of the card will create traffic conjunction on the road which leads to various problems for the entire world (Al-Sakran, 2015). This has increased the need for advanced and low-cost traffic navigation system to manage such increased traffic. Not only this, we also need less costly green cars or electric cars so that people can afford these cars. This can be the solution to various problems created by increased population and traffic conjunction. We have discussed the impact of traffic conjunction on the environment but it can also have a vital negative impact on the economic condition of a county. Traffic makes people late to work which create a loss of opportunity cost to these people. Traffic conjunction can also affect the efficiency and effectiveness of employee which will have a negative impact on overall performance of that organization (Sweet, 2011). Major impact on the economy due to traffic is a delay in imported goods and services which are essential for growth and development of the country. Traffic conjunction also has a serious impact on the overall health of people. There are various diseases associated with air pollution which is majorly created by traffic conjunction. Traffic is one of the biggest reasons that decrease the quality of air. Various researched have shown that chances of occurrence of airborne diseases in drivers and people living near major roadways are higher as compared to other people (Levy et.al, 2010). Methodology To determine the impact of an increase in population on transportation system we will study various reports and statistics published by the government of Australia and rest of the world. In this research, a collection of information through primary sources is impractical as it will require a large amount of time, effort, and money. Hence we will secondary sources of data collection such as public reports, statistics published by other researchers, reports of Department of Infrastructure and Regional Development etc. We will also try to collect primary source of data from 10 nearby transportation companies. From these companies, we will evaluate the increase in a number of vehicles over time and compare it with an increase in population. Sample selection will be done out of 50 transportation companies through selective sampling (Liamputtong, 2013). Gantt chart Here we will provide a timeline to our research proposal to determine total time required to compete and analyze the results of this research. Milestones table S. No Task Start Date End Date Duration (Days) 1 Project Proposal 21-Dec-17 23-Dec-17 3 2 Literature Review 24-Dec-17 31-Dec-17 8 3 Collection of information 01-Jan-18 11-Jan-18 11 4 Analysis of data 12-Jan-18 16-Jan-18 5 5 Report submission 17-Jan-18 18-Jan-18 2 Total time required 29 References Chourabi, H., Nam, T., Walker, S., Gil-Garcia, J. R., Mellouli, S., Nahon, K., ... Scholl, H. J. (2012, January). Understanding smart cities: An integrative framework. InSystem Science (HICSS), 2012 45th Hawaii International Conference on(pp. 2289-2297). IEEE. Fernando, B., Gray, E., Kellner, J. (2013). A review of current traffic congestion management in the city of sydney. Gargett, D. (2012). Traffic growth: modelling a global phenomenon.World transport policy and practice,18(4), 27-45. Harriet, T., Poku, K., Emmanuel, A. K. (2013). An assessment of traffic congestion and its effect on productivity in urban Ghana.International Journal of Business and Social Science,4(3). Jain, V., Sharma, A., Subramanian, L. (2012, March). Road traffic congestion in the developing world. InProceedings of the 2nd ACM Symposium on Computing for Development(p. 11). ACM. Krockenberger, M. (2015).Population growth in Australia. Australia Institute. Liamputtong, P. (2013).Qualitative research methods. McGuirk, P., Argent, N. (2011). Population growth and change: implications for Australia's cities and regions.Geographical Research,49(3), 317-335. Redman, L., Friman, M., Grling, T., Hartig, T. (2013). Quality attributes of public transport that attract car users: A research review.Transport Policy,25, 119-127. Redman, L., Friman, M., Grling, T., Hartig, T. (2013). Quality attributes of public transport that attract car users: A research review.Transport Policy,25, 119-127. Taylor, G. R. (2015).The transportation revolution, 1815-60. Routledge. Lai, W. T., Chen, C. F. (2011). Behavioral intentions of public transit passengersThe roles of service quality, perceived value, satisfaction and involvement.Transport Policy,18(2), 318-325. Hutchens, G. (2015), Australia's roads and rail networks will struggle to meet population growth. The Sydney Morning Herald. Al-Sakran, H. O. (2015). Intelligent traffic information system based on integration of Internet of Things and Agent technology.International Journal of Advanced Computer Science and Applications (IJACSA),6(2), 37-43. Sweet, M. (2011). Does traffic congestion slow the economy?.CPL bibliography,26(4), 391-404. Levy, J. I., Buonocore, J. J., Von Stackelberg, K. (2010). Evaluation of the public health impacts of traffic congestion: a health risk assessment.Environmental health,9(1), 65.