Got Those Opec Blues Again And Rational Exuberanc

Got Those Opec Blues Again And Rational Exuberance Got those OPEC Blues Again and Rational Exuberance SUMMARY Since March of 1999, when the price of West Texas Intermediate crude oil was at $13 a barrel, we have seen a steady increase in prices in all phases of the economy. OPEC, the organization that is largely responsible for setting production goals in the Middle East, was under fire to find ways to increase prices. OPEC members at this time pledged to cut back the supply of crude and push oil prices higher. (Business Week, 48) The results were better than most expected: crude oil prices were almost $27 a barrel on November 23, 1999, the highest price since the 1991 Gulf War. (Business Week, 48) The demand for oil is outpacing current supply by 2.8 million barrels, causing some in Congress to push for relief by tapping into the Strategic Petroleum Reserves. (Business Week, 49) The rapid increases in prices have had a welcome effect on Big Oil, however. Companies such as BP Amoco, Chevron and Royal/Dutch Shell Group have posted 15% increases in earnings (Business Week, 49) This trend is ex pected to continue, with L Bruce Lanni, an analyst at CIBC World Markets Inc. noting, I see clear sailing ahead for the next two to three years. (Business Week, 49) Happy days are here again! This quote, noted by Jodie Allen of U.S. News and World Report, refers to the booming U.S. economy. (Allen, 71) The stock market, as of November 8, 1999 was flying high, posting strong gains, prompting inflationary fears and a hard once-over of the situation by Federal Reserve Chairman Alan Greenspan. However, the numbers are extraordinary. The Gross Domestic product surged at an annual rate of 4.8% in the third quarter of 1999. The employment cost index, which measures total compensation paid to workers in a broad sampling of jobs, rose by 3.1 percent over the past 12 months. (Allen, 71) But, cautions Princeton economist Alan blinder, this is a change in the measurement system, not in the reality. (Allen, 71) Still, he concedes, the underlying reality was looking good even in the older data. (Allen, 71) Even in this seemingly booming economy, Greenspan warns It is not clear whether interest rate hikes the Federal Reserve has already made will suffice to pr event overheating of the economy (Allen, 71) APPLICATION In the case of OPECs decision to cut supply to raise prices, it is clear that all sectors of the economy will be affected in some way. This decision causes a shift of the Aggregate Supply curve, because of the resulting increase of energy prices. Looking at Oil on a simple Supply/Demand curve, we see that the resulting decrease in supply and saying demand is equal, or ceteris paribus, results in the increase in prices that OPEC was looking for. See the following graph: Notice how the shift of the AS curve from AS1 to AS2 results in a price level adjustment from P1 to P2. The economy as a whole as suffered from this increase in oil prices, however, there is little reflection in the stock market. As unemployment stays low, we are in a help wanted economyfirms are looking for warm bodies to fill needed positions. We also have seen a tremendous rise in GDP and in personal spending. The combination of low unemployment and higher than normal GDP has Fed Chairman Alan Greenspan worrying about how to cool off the economy a bit to control inflation. Unfortunately for some of us, his big stick is raising interest rates, increasing the cost for both firms and individuals to borrow money. This will have the desired effect, as the shift in monetary policy will cause aggregate output to fall. But Greenspan will have achieved his goal: keeping inflation low. VIEWPOINT In my humble opinion, as a student, the gas prices do affect me, as the do everyone. There seems to be relief in the future, as OPEC may decide this week to increase production, helping lower costs to a more reasonable level. The one thing I find interesting, however, is that there has not be as much complaining about these gas price increases. This can be attributed to how the economy is performing as a

Best Quotes to Pair With Vintage Photos on Social Media

Best Quotes to Pair With Vintage Photos on Social Media Sharing old photos of people, places, and events on social media is a good way to reminisce and add nostalgia. If youve decided to share your favorite images on social media during a Throwback Thursday, Flashback Friday, or some other tagged event involving sharing, there are some great ways to make your contribution even more special - and good things to know about sharing photos in general: Share one photo a week or less. Dont overwhelm your friends and followers with too many old photos. Just because you found an album of old photos doesnt mean you should bombard your social media followers. Choose one day a week, such as a Throwback Thursday or a Flashback Friday, and maybe even skip a week between postings.Be certain youre sharing only old photos. Dont make the mistake of incorrectly tagging recent photos with something like #tbt (Throwback Thursday), for instance. Stick with the old  pictures you would find in a photo album or a stack of Polaroids. Vintage pictures are hugely popular, so the older, the better.Make sure you choose the best photos - ones that tell a story. For instance, if you were a baseball player, post a picture of the time when you scored your first home run. Post pictures that were taken with your entire family  on vacation. Share a picture of a younger you doing something you still do today.Choose photos that might make people laugh. Unflat tering pictures of yourself from the past always make people smile. The goofier you look, the better. That said, if someone else looks unflattering, you might want to get their permission first. After all, this is supposed to be fun. Add other elements that make the sharing more special, such as a special quote from a famous person. The next time you are sharing vintage images online, try pairing them with some of the following vintage quotes from famous poets, novelists, storytellers, and others - these are sure to give an extra appeal. John Banville The past beats inside me like a second heart. Julian Barnes Memories of childhood were the dreams that stayed with you after you woke. Deb Caletti Summer, after all, is a time when wonderful things can happen to quiet people. For those few months, you’re not required to be who everyone thinks you are, and that cut-grass smell in the air and the chance to dive into the deep end of a pool give you a courage you don’t have the rest of the year. You can be grateful and easy, with no eyes on you, and no past. Summer just opens the door and lets you out. Willa Cather I guess everybody thinks about old times, even the happiest people. Sidonie Gabrielle Colette What a wonderful life I’ve had! I only wish I’d realized it sooner. Walt Disney All our dreams can come true, if we have the courage to pursue them. Albert Einstein Only a life lived for others is a life worthwhile. Ralph Waldo Emerson â€Å"For every minute you are angry, you lose 60 seconds of happiness.† William Faulkner How often have I lain beneath rain on a strange roof, thinking of home. Neil Gaiman I miss the way I took pleasure in small things, even as greater things crumbled. I could not control the world I was in, could not walk away from things or people or moments that hurt, but I took joy in the things that made me happy. Kahlil Gibran Yesterday is but todays memory, and tomorrow is todays dream. Arsene Houssaye Always have old memories, and young hopes. Charlotte Davis Kasl A lifelong blessing for children is to fill them with warm memories of times together. Happy memories become treasures in the heart to pull out on the tough days of adulthood. Elizabeth Lawrence There is a garden in every childhood, an enchanted place where colors are brighter, the air softer, and the morning more fragrant than ever again. Laurie Lee Bees blew like cake-crumbs through the golden air, white butterflies like sugared wafers, and when it wasnt raining, a diamond dust took over which veiled and yet magnified all things. C.S. Lewis Gratitude looks to the Past and love to the Present; fear, avarice, lust, and ambition look ahead. You are never too old to set another goal or to dream a new dream. Cesare Pavese We do not remember days; we remember moments. Your time is limited, so don’t waste it living someone else’s life. Don’t let the noise of others’ opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. Stay hungry. Stay foolish. Marcel Proust There are perhaps no days of our childhood we lived so fully as those we spent with a favorite book. Vladimir Nabokov One is always at home in ones past. Eleanor Roosevelt The future belongs to those who believe in the beauty of their dreams. Dr. SunWolf Some things can only be understood when you’re in a tree house. With a pile of warm chocolate chip cookies. And a book. Charles R. Swindoll Each day of our lives we make deposits in the memory banks of our children. Oprah Winfrey The biggest adventure you can take is to live the life of your dreams. Lisa Whelchel Theres something about childhood friends that you just cant replace. The Wonder Years Memory is a way of holding onto the things you love, the things you are, the things you never want to lose. Memory is the diary that we all carry about with us.

Nespresso Entering Kiev Market Assignment Example | Topics and Well Written Essays - 1750 words

Nespresso Entering Kiev Market - Assignment Example It also includes target market, brand positioning and marketing mix. The report also encompasses market development which shows how Nespresso will survive and struggle. Finally, there is an exit strategy for Nespresso. Thus, this report will give an overall view of the possible hurdles and the outcomes that Nespresso might have to face. Keywords: Nespresso, Kiev, International Market According to Nespresso (2011), â€Å"As the worldwide pioneer, Nespresso redefined the way coffee lovers around the world enjoy their Espresso coffee through a unique combination of premium quality Grand Cru coffees, smart coffee machines and exceptional customer services.† â€Å"Kiev is the capital city of Ukraine, its largest economical, political, educational and cultural centre. Kiev offers endless opportunities for tourism† (Kiev, 2011) From the facts above, it is obvious that Nespresso has been doing great in international markets and Kiev seems to be a good investment for Nespresso. Even so, there are bound to be hurdles and opportunities at the same time. Therefore, the analysis done ahead will give us an insight on how Nespresso will do on entering Kiev. Purpose of the Plan The purpose of this business plan is to analyze the possibility of survival in Ukrainian market, to define the entry, marketing mix, and even to formulate an exit strategy, just in case. The situation analysis will help us learn whether it is feasible for Nespresso to enter Kiev or not. Thus, this business plan will help us foresee the outcomes of Nespresso entering Kiev market. The Idea Kiev is a good place for tourists, plus the people of Kiev not only eat local food but also eat continental food. They have Italian and French restaurants as well. They also like to eat fast food, American and Russian dishes. Thus, given that the people at Kiev have taste buds for food other than local Ukrainian dishes (Kiev, 2011). People all around the world crave coffee and if the coffee you are having is Nespresso then it is difficult to resist. Nespresso does not only give high quality coffee, but also provides an unmatched personal service. These days, service has become just as important as t he product, and Nespresso proves that it is excellent at both and that is what makes it so much better than other coffees. According to Nespresso (2011) â€Å"At  Nespresso, creating the perfect coffee is at the heart of what we do. Delighting coffee lovers is why we do it.† Hence that is basically the idea behind entering Kiev as well, to satisfy not only the need of taste buds but also the need of good service seekers. Situation Analysis In this case, the situation analysis will be done with the help of 5C’s. (Net MBA, 2010) Company Nespresso is espresso made by Nestle, it has a healthy rapport in the market not only locally but also in international market, be it west or east. Nespresso not only produces excellent quality coffee but also gives quality service which a huge plus. It also has a huge range of Nespresso machines which are smart, stylish and user friendly. Collaborators Nespresso works with its Ecollaboration partners to improve its sustainability (Nesp resso, 2011) Customers When it comes to coffee, there are those who go for supreme quality, then there are those who have coffee on daily basis and will go for coffee of any kind, some don’t like plain coffee and like to create drinks that have coffee with caramel, chocolate and other syrups. Nowadays, kids also tend to go for coffee as a beverage. For kids, however, there is more sugar involved. Thus, coffee is for all market segments, and Nespresso can cater to the needs of all. Competitors For Nespresso,

Essay topic in reference to Personally Identifiable Information and

Topic in reference to Personally Identifiable Information and ethics - Essay Example This paper describes ethical issues and their relationship to the use of information technology the paper delves trends as well as impacts of the ethics of individuals and organizations Ethical actions of a person are defined as activities that are performed with a particular criterion of what is good. It thus relates to the question of what is regarded as good or bad by humans. Just like the other fields, information technology is aided by a particular code of ethics (Floridi, 2008). Privacy is an issue that has both external as well as internal implications. Keeping in mind that all organizations often collect their employee’s data, data that is not safeguarded properly can lead to various implications to an individual. Such information includes background data, compensation, and personal identification data such as account identifiers and social security numbers. This type  of information is maintained as well as accessed by authorized personnel. Systems that are used in tracking sensitive information are secured, though at some point data must be used in other systems. To ensure that information is secured, operational procedures and policies are used to handle data, in case these policies and procedures are not properly enforced, they can be accessed by unauthorized personnel and can be used to commit crimes. All Employees activities as well as the use of technologies are monitored by their organizations. Thus, employees are notified that when they are using organizational assets, they should not expect any privacy; such corporate assets include network and internet access. Even without such disclaimers, there is no need to notify that they are being monitored (Mason, 2006). The major issues in monitoring of employees activities include whether organizations have obligations to notify their employees the extent of

Analyze and Evaluate the Federal Legislative Process Essay

Analyze and Evaluate the Federal Legislative Process - Essay Example We will get to understand this process even better by looking at the stages the family smoking prevention and tobacco control act, passed through till it was enforced as a law. We will also get to know the content of the bill and its importance. The family smoking prevention and tobacco control act, pub.l.111-31 H.R.1256 This is one of the major statutes in the federal government enacted during President Obama’s time .It came into effect on June 22, 2009 (Encyclopedia). The act gives the food and drug administration the power to regulate the tobacco industry. A signature element of the law imposes new warnings and labels on tobacco packaging and their advertisements, with the goal of discouraging minors and young adults from smoking. The Act also bans flavored cigarettes, limits on the advertising of tobacco products to minors and requires tobacco companies to seek FDA approval for new tobacco products. Legislative process Bill introduction and The First Reading According to ( Freeman), bill introduction and first reading is the initial stage in the legislative process. ... The family smoking prevention and tobacco act was introduced to respond to the decision, which had held that the Clinton administration's FDA had gone beyond its Congressionally delegated authority, thus giving the FDA the authority the Court determined it had lacked. The bill was passed by a vote of 298 to 112. Second Reading and Referral of the Bill to a Committee On May 20, 2009 the senate committee on health, education, labor and pensions were assigned the bill. Committee Stage of Bill The committee reviewed the text of the bill and there being no amendments they passed it to the next stage. Report Stage The family smoking prevention and tobacco control bill was further studied during the report stage by the members of the house of common in the committee and also those who were not in the committee passed the bill to the next stage there being no amendments. The Third Reading and adoption of Bill The members of the house of common came together to decide on whether the bill shou ld be adopted or not. They debated on the final form of the bill and its provisions. The bill provided for: i. Creation of a tobacco center within the FDA authority to regulate the content. ii. Marketing and sale of tobacco products. iii. It require the FDA approval for the use of expressions that indicate the capacity the product poses to health risk iv. limitation of advertisements that could attract young smokers Calls for new rules to prevent sales except through direct marketing. v. Face-to-face exchanges between a retailer and a consumer vi. The ban on flavoring applies to any product meeting the definition of a cigarette according to the Federal Cigarette Labeling and Advertising Act. This includes any tobacco that comes

The Strategic Analysis Of Adolph Coors

The Strategic Analysis Of Adolph Coors Beer is the oldest alcoholic beverage in the world. It has produced in an artisanal setting for thousands of years, dating back to around 3500 BC (History, 2010). As developments in agriculture and technology occurred, beer production shifted to industrial manufacturing. Beer is produced using a process called brewing. The brewing process involves variable amounts of time in which a source of starch, usually hops, is fermented to produce alcohol. The process can produce countless types of beer, with variable concentrations of alcohol, varying flavors, and appearances. These beverages are packaged into either kegs, glass bottles, or aluminum cans. A building or organization dedicated to this process is known as a brewery. The brewing industry today is a global business that is made up of several dominant companies. As of 2010, the key players in the industry are MillerCoors and Anheuser-Busch. Anheuser Busch is the largest brewing company in the United States with 32 breweries globally, 12 of which are located in the United States. In late 2007, SABMiller and Molson Coors Brewing Company joined forces in order to better compete with Anheuser-Busch. These major brewing companies make up the largest segment of the brewing industry. There are also thousands of smaller regional breweries often referred to as microbreweries which make up a second segment. Finally, a very small percentage of homebrews and domestic production occur. This analysis will focus almost exclusively on the segment that consists of the multinational conglomerates such as MillerCoors and Anheuser-Busch. The US beer market produced total revenues of $78.8 billion in 2008. Lager sales account for $28.2 billion of the total (Datamonitor, 2009b). Beer accounts for 52.9% of the alcoholic drink industry in the US, with spirits at 29.4%, and Wine at 17.7% (Datamonitor, 2009a). *A stipulation to this analysis is that it will be based primarily on the Harvard case study Adolph Coors in the Brewing Industry. Outside information will be incorporated where necessary for a complete analysis. *In the absence of specific statistics from past years, current numbers are substituted. *Brevity is highly valued for this analysis, though not at the expense of a thorough analysis. PEST The PEST model is a framework which is used to analyze the macroenvironmental factors that companies within an industry must take into account. This PEST analysis will examine the political, economic, social, and technological factors in relation to the brewing industry. Political and Government regulation There are significant rules governing general alcohol consumption. First, drinking in public places such as streets or parks is prohibited. Second, the minimum age of consumption is 21 years old in the United States. There are also restrictions related to the manufacturing, sale and possession of alcohol. In the United States, the sale of alcoholic beverages is controlled by individual states. Finally, the production of spirits is taxed and requires a permit to operate a plant (TTBGov, 2010). Economic The brewing industry benefits from having commodity-based inputs. There is little variance in the raw materials necessary for the brewing process, as they are mainly agricultural commodities. Price elasticity of demand for beer is low, ensuring steady demand. Social-cultural Consumer preferences are important in the brewing industry. Consumers have varying tastes, and prefer to be able to choose among the varying types of beer. However, alcohol consumption can have adverse affects on human physical health. Beer is high in carbohydrates, and it can be argued that high consumption can cause weight gain, or even liver-disease. There are also benefits of alcohol consumption. The age of the consumer affects the industry. As baby boomers reach the legal drinking age, the number of beer drinkers rose, and also the amount consumed (Ghemawat, 1992). Additionally, more and more Americans drink more beer at home, whereas they had traditionally had it in bars and restaurants (Ghemawat, 1992). Technological Brewing techniques affect the brewing industry heavily. Post WWII developments would allow for less time needed for the aging process. The pasteurization process would allow beer to last up to six months unrefrigerated (Ghemawat, 1992). Capacity and efficiency are highly based on technology of both the brewing, and packaging machinery. Also, the switch from glass bottles to aluminum cans was a large technological development. The technology surrounding television and web marketing have changed, giving firms easier methods for greater exposure, and also shipping and transportation costs fluctuate, affecting value-added (Ghemawat, 1992). III. Porters Five Forces A. Threat of New Entrants (LOW) The following elements will help determine the level of threat from new entrants. 1. Economies of scale Economies of scale are significant for the brewing industry. This represents a high barrier to entry for potential competitors. Large, established firms such as MillerCoors and Anheuser-Busch have enormous brewing capacity, and are able to realize economies of scale that come from mass production and larger contracts. As of 1985, doubling the scale of a brewery cut unit costs by 25% (Ghemawat, 1992). During the rising demand that the industry experienced during the 1960s and 1970s, both Anheuser-Busch and Schlitz, major players at the time, added large breweries to help cope with the demand, and to benefit from economies of scale (Ghemawat, 1992). This allows existing firms to decrease their cost per unit produced. Any new entrant would have to invest a large amount of capital in production facilities. This makes the industry unattractive. 2. Working capital requirements The cost of operating a brewery is significant. A significant implication of the brewing process is that it takes time. A major development in the brewing process after WWII allowed brewers to cut the aging time from 30 days to 20 (Ghemawat, 1992). Even with this decrease, it is still costly not only to facilitate the brewing process, but to maintain locations in which the beer can be aged. This serves as a deterrent for small firms who wish to enter. 3. Proprietary product differences Coors, like many most brewers, has a unique taste associated with its beverages. Little information was available as to the nature of the Coors recipe, however, it would not difficult for any knowledgeable entrant to the industry to imitate the taste of the varying Coors lines. Coors does age its product for 70 days, rather than the industry average of 20-30 (Ghemawat, 1992). Imitation of the Coors brewing process would also be easy, and therefore, threat of entrants is increased. 5. Brand identity Brand identity is important in the brewing industry. For Coors, their marketing expenses as a percentage of sales increased from 3.3% in 1973 to 10% in 1985 (Ghemawat, 1992). This decreases the threat of entrants, as it takes significant investment to establish brand recognition. 4. Absolute Cost Advantages As stated above, Coors and its major competitors can take advantage of economies of scale, which gives lower manufacturing costs, and also cheaper access to raw materials. Coors produces its own malt through long-contracts with farmers (Ghemawat, 1992). These connections are likely exclusive to large firms, and decrease the threat of entrants. 6. Access to distribution Coors products reach the market primarily through retailers and wholesalers. As of 1985, Coors distribution network consisted of 569 wholesalers, and 5 additional Coors-owned wholesalers. Coors also has its own trucking subsidiary, which takes on a large amount of its transportation needs. This decreases the threat of entrants (Ghemawat, 1992). The threat of new entrants is low. The capital requirements for starting a brewery, and quickly achieving the necessary economies of scale is a large barrier. Access to distribution networks takes time, and also contracts to obtain necessary shelf-space to sell product. These factors make the industry unattractive for new entrants. B. Suppliers (LOW) 1. Supplier concentration The main suppliers in the brewing industry consist of malted grain and hops for the fermentation process, and bottles or barrels for storage and transportation. Supplier power is weak because of their size, relative to the brewers, and also because farming operations are numerous (Brewing Industry US). 2. Presence of substitute inputs The presence of substitutes in the brewing industry varies. If aluminum cans are considered a substitute for bottles and barrels, then this factor is an issue. Also, lower quality hops might be substituted for higher quality, more expensive, flavorful hops. 3. Differentiation of inputs Since ingredients required for brewing have little qualitative differentiation, supplier power is lowered. 4. Importance of volume to supplier There are few other uses for hops, especially commercially, than brewing beer. The brewing industry purchases a significant percentage of the total hop production, which diminishes supplier power. However, there are alternative uses for barley, which can be integrated in the brewing process, but isnt as common. This slightly boosts overall supplier power (Brewing Industry US). 5. Impact of inputs on our cost or ability to differentiate Agricultural inputs account for 20-25% of total raw materials costs for major brewers. The remainder is allocated for packaging (Ghemawat, 1992). This increases supplier power, as the price of their product affects the final product. 6. Threat of forward or backward integration Since suppliers are small in comparison to breweries, forward integration is uncommon. However, there is evidence of backwards integration by large brewers. For example, Coors acquired a grain-processing plant as well as other operations to protect itself from price fluctuations (Ghemawat, 1992). 7. Access to labor As of 1985, Coors was the only major brewer that was not unionized (Ghemawat, 1992). The implication is that the brewing industry is unionized. During a strike in 1977, a strike caused Coors to have to shift employees within the company. The production levels were quickly returned to normal, indicating that skilled workers are not necessary (Ghemawat, 1992). Labor supplier power is low. Supplier power is low because of unfavorable supplier concentration. Suppliers of the brewing industry need the brewing industry as there are little other uses for their products, and their products are considered commodities. C. Buyers (MODERATE) 1. Buyer concentration Buyers in this market are highly concentrated. In 1985, 4,500 independent wholesalers existed in the United States (Ghemawat, 1992). Larger buyers are able to negotiate contracts effectively (Datamonitor, 2009b). 2. Buyer switching costs Buyers do not have particularly high switching costs. Many buyers are willing to switch brands based on price and differentiation. The lack of buyer switching costs increases buyer power, making the brewing industry more unattractive (Datamonitor, 2009b). 3. Threat of backward integration There is no indication that buyers are backward integrating, and producing their own product to sell, making the industry more attractive. 4. Pull through Pull through exists in the brewing industry because brand identity is important. Advertising expense as a percentage of sales over time for the brewing industry has been trending upward. As of 1973, advertising expenditures were 3.3% of sales. That amount increased to 10% of sales by 1985 (Ghemawat, 1992). Therefore, the brewing industry has power over the buyers, making it more attractive. 5. Price sensitivity The brewing industry is able to pass cost increases on to the buyer as indicted by the existence of multiple beer segments. End consumers are willing to pay more for quality beer. Brewers are not able to pass on shipping costs however, reducing attractiveness (Ghemawat, 1992). Buyer power is moderate. There are more buyers than firms in this industry, and pull-through from brewers creates power. There are shipping costs and other aspects that the breweries cannot pass on to their customers. D. Substitute Products (MODERATE) Substitute products for beer consist of wine, liquor, as well as imported beer. These products constitute a moderate threat. In 2008, Beer had a 52.9% share of the alcoholic drinks market, with spirits at 29.4%, and wine at 17.7% (Datamonitor2009a). 1. Relative price/performance relationship of substitutes The per-unit-volume price is often affected by alcohol content, which is higher in liquor and spirits. Also, shelf space is more expensive for items such as beer, which must be refrigerated (Datamonitor,2009a). The threat of substitute products is increased. 2. Buyer propensity to substitute Projections for the industry indicate that consumers may switch away from beer to other alcoholic beverages as consumers become more confident and begin spending their discretionary income. Consumers who may normally drink higher priced alcoholic drinks tend to switch to lower priced beer during a recession (Ibisworld, 2010). This effects the buyers of the brewing industry as their demand will fluctuate. The threat of substitute product is moderate because of end-user propensity to switch away from beer when possible financially. Other forms of alcoholic drinks are often more potent, making them a better deal for the consumer, depending on their intentions or desires. E. Rivalry (HIGH) 1. Degree of concentration and balance among competitors The brewing industry is highly concentrated, and unbalanced. In 1985, the six major players in the industry controlled 75% of market share. In 2009, this number had changed to the two major players controlling 79.2% of the market share. Anheuser-Busch controls 50.1%, and MillerCoors, the remaining 29.1%. This heavy rivalry makes the industry unattractive (Ibisworld, 2010). 2. Diversity among competitors Anheuser-Busch and MillerCoors are following similar strategies. Both companies are focusing on promoting their largest brands, expanding their geographic reach, and increasing efficiency (Ibisworld, 2010). This makes the industry unattractive. 3. Industry growth rate (past and projected) The brewing industry is experiencing maturity, growth rates have been slow, and consolidation frequent. From 2010 to 2015, the industry has experienced a -0.3% growth rate. However, it is projected to grow 1.3% by 2025 (Ibisworld, 2010). The industry is unattractive. 4. Fixed costs to value added Fix costs are high and economies of scale are possible in the industry. Value-added trended upward until its high point in 2003 of $25,924.3 million, but has since fallen to just over $23,038 million. The industry is at maturity and rivalry has increased, making the industry unattractive (Ibisworld, 2010). 5. Intermittent overcapacity As of 1985, the 6 major competitors in the brewing industry were operating at an average of 83% capacity. The brewing industry has been plagued with overcapacity issues in the past (Ghemawat, 1992). Rivalry is increased. 6. Product differentiation Firms differentiate their products in this industry through advertising, segmentation, and packaging. Advertising helps firms reach critical thresholds of exposure, while segmentation increases market share (Ghemawat, 1992). Brewers can differentiate their products by segments, but also can use brand, ingredients, and style. The degree of differentiation makes the attractive (Datamonitor, 2009b). 7. Growth of foreign competition To what extent are foreign firms able to penetrate the US market? If there is a growth in foreign firms penetration, this increases rivalry making the industry unattractive. It also shows that US firms are not being globally competitive. 8. Corporate stakes As of 1985, 84% of Coorss revenues came from its brewing division (Ghemawat, 1992). This increases rivalry, making the industry unattractive. 9. Exit barriers Firms in this industry could exit by converting operations to another product, or as shown by the consolidation of the industry, exit through merger or acquisition. Rivalry in this industry is high. Since the brewing industry is so highly concentrated and unbalanced, the major firms in the industry have very similar strategies and compete for similar niches. This makes the overall industry attractiveness low. IV. Conclusion After analysis of the items above, conclusions can be drawn about the brewing industry. A. Critical Success Factors There are a number of critical success factors for this industry: Economies of scale are a necessity to be profitable in the industry. Firms must have production facilities that are large enough to spread the fix costs of production out of millions of barrels of product. These facilities must also have high capacity to deal with demand fluctuations. Second, firms must have strong, differentiated brands that fit into multiple segments. Finally, a strong distribution network is imperative to obtaining sales levels. B. Prognosis Entering into the brewing industry would be a uncertain venture. There are many barriers to entry for small firms such as microbreweries, such as economies of scale and capacity. The brewing industry is projected to contract, but the major players will continue to jockey for market share (Ibisworld, 2010). Competitive forces have contributed to consolidation in the past and likely will in the future, as smaller firms merge with larger ones, in order to better compete in the industry. Part II: Firm Analysis I. Current Situation A. Brief firm history Adolph Coors brewery was founded in Golden, Colorado in 1873. After surviving the prohibition era of the 1920s, Coors would become very successful. After the repeal of Prohibition, Coors sold 90,000 barrels of beer. It also began expansion with its introduction of wholesalers outside of Colorado, in Arizona, and eventually 9 other states. The size of the company would increase exponentially. By 1960, Coors sales volume reached 1.9 million barrels, 7.3 million by 1970, and finally 12.3 million by 1974. In 1975, the Coors family offered non-voting stock to the public (Ghemawat, 1992). More recently, the Adolph Coors Company became the parent company through a merger with Molson, a Canadian brewing giant. Coors would begin numerous ventures and partnerships, most notably, a joint venture with Miller Brewing to form MillerCoors in June of 2008 (Datamonitor: Coors). Today, the company operates 18 breweries and distribution centers over 30 countries. The US segment operates 8 major breweries with a capacity of 85 million barrels annually. The brands sold in the US are Coors, Coors Light, the Blue Moon line, Killians, Keystone, and Molson among others. Molson operates Coorss Canadian operations with 6 breweries. Coors also sells around 9 million barrels in the UK (Datamonitor, 2009c). MillerCoors currently controls 29.1% of market share, behind industry-leader Anheuser-Busch with 50.1%. Coors broad portfolio of over 40 brands allows it to reach a wide range of market segments (Ibisworld, 2010). B. Strategic Posture The current vision of MolsonCoors is to be a top four global brewer in profitability, fueled by our people who are committed to delivering exceptional results and creating extraordinary brands (Molson, 2010). The mission statement was not stated anywhere. The first portion, to be a top four global brewer in profitability is quantifiable through revenue. The last 2 parts are more difficult to measure, though Coors does have a large portfolio of successful brands. II. External Environment (Opportunities and Threats) The findings of the above industry analysis apply specifically to Coors in the following manner: A. General Environmental Factors The issues that affect Coors more heavily are the issues of product differentiation to meet consumer needs, and also the capacity and efficiency factor. The opportunity to market their products more extensively is important to Coors. B. Task Environment The Rivalry factor is currently affecting the level of competitive intensity within the brewing industry. Coors faces strong rivalry from Anheuser-Busch. They currently pursue very similar strategies, making competition strong. Currently Anheuser-Busch controls over 50% of the market share. As they compete for the same markets niches, it will be important for Coors to maintain competitive levels of advertising. Also, Coors has been efficient in their production capacities in the past, but as demand grows, they may need to make changes to keep up. III. Internal Environment (Strengths and Weaknesses) A. Management The Coors board consists of nine members, four of which are members of the Coors family. As of 1985, the Coors family continued to hold all of the voting stock (Ghemawat, 1992). Peter Coors became president of Coors in 1985. There was some dissent between the younger members of the board, including Peter, suggesting that had a differing vision for the direction of the company. It is implied that he thought it was necessary to add effective marketing skills to the manufacturing skills that the company already had (Ghemawat, 1992). B. Marketing Coors operates in every segment except for the low-price popular segment. In1985, Anheuser-Busch had a particularly strong product mix, much as Coors had, though Anheuser-Buschs market share was much larger. The most notable major competitors products were Anheuser-Buschs Budweiser, with 25.8% of market share, and Millers Lite beer, and High Life which together accounted for 17.5% of market share (Ghemawat, 1992). Coors pricing is appropriate for the market. There are no strong indicators that Coors pricing strategy is not competitive. In 1985, domestic producers supplied barrels at $67 each. Distribution is a major issue for Coors. In 1985, all of the major competitors except Coors functioned in all 50 states, but only had a median shipping distance of 300-400 miles. Coors was shipping their product 1,500 miles. Beyond this, their inefficient trucking system added 10-15% additional cost (Ghemawat, 1992). Finally, Coors launch of new products called for an increase in advertising. Coors silver bullet campaign proved successful, as Coors Light had become the 2nd best-selling light beer (Ghemawat, 1992). Coors spends less than the industry average for its promotional efforts. There is also statistical evidence that 90% of the effect of advertising is lost within one year (Ghemawat, 1992). Coors has not marketed itself as heavily as some of its competitors, which puts it at a disadvantage. It likely has much to do with the smaller size of Coors market share. C. Operations/Production Productivity improvement has been extremely important to Coors in its history. In 1985, Coors capacity utilization was above that of both the top players in the industry at 92%, which is high. The issues Coors is facing pertaining to distribution, and whether or not to open a new brewery would be a result of the firms re-invention. Growth through product development is important to Coors. It has six product lines in varying segments, indicating it is emphasizing product development within the brewing industry. At some points in its history, it was diversified outside of the brewing industry, but decided to focus on core competencies (Ghemawat, 1992). Coors benefits from high historical efficiency in production, and also strong brands that it can use to differentiate itself. D. Human Resource Management Unions have historically had little effect on the operations of Coors in particular, but they are present in almost every other firm in the industry. A strike during 1977, illustrated Coors lack of vulnerability to this threat (Ghemawat, 1992). E. Management Information Systems This section is not applicable. IV. Critical Success Factors This section will briefly outline how Coors is managing the critical success factors in its industry. Economies of scale are a necessity to be profitable in the industry. Coors Golden Colorado brewery is the largest in the industry, capable of producing 25-30 million barrels a year (Ghemawat, 1992). This production facility has allowed them to take advantage of economies of scale and spread the fix costs of production out of millions of barrels of product. Coors brewing facilities have historically had high capacity to deal with demand fluctuations, but future demand may prompt changes. Second, Coors has strong, differentiated brands that fit into multiple segments. Coors broad portfolio of over 40 brands allows it to reach a wide range of market segments (Ibisworld, 2010). Finally, a strong distribution network is imperative to obtaining sales levels. This is the aspect in which Coors is the weakest. Economics would dictate that an in-house operation would increase value-added, but Coors distribution network is not strong enough for them to realize financial benefit. V. Strategic Problem Management has failed to ensure the longà ¢Ã¢â€š ¬Ã‚ term survival of Coors because they have neglected the importance of strong distribution networks, and shipping expenses associated with proximity to markets, and of refrigeration needs. If Coors wants to successfully compete on a national level, like its competitors, it will need to boost the efficiency of its distribution network. VI. Strategic Alternatives Option 1 Construct an additional brewery in the eastern United States such as the location in Virginia. This brewery would serve the eastern United States, and add additional capacity to Coors overall. The pros of this option are as follows: It would reduce costs associated with shipping from the Golden Colorado site. Coors estimates a $2.50 saving per barrel if it would not have to ship its entire product the average 1500 miles. Although the brewing industry is not projected to grow, it would not hurt Coors to have more resources and capabilities, and not have to base their entire operation on the single brewery. The cons of this option are as follows: It would take a large investment to establish a new brewery, and maintain its production. A 5-million barrel brewery would cost $200-$250 million (Ghemawat, 1992). Option 2 A second option would be to begin focusing heavily on marketing. The numbers show that Coors is considerably behind their competitors in advertising spending as a proportion of sales. The company has strong brands that could perform better with additional promotion. The pros of this option are as follows: Increased brand awareness, and information about the varying brands that Coors produces will result in additional sales volume. Targeting advertising about certain product lines to certain target markets could increase penetration into market niches, and result in additional market share. The cons of this option are as follows: The additional costs of a national advertising effort will be high. ROI may be low because of statistical data from studies indicating that advertising in this industry does not create lasting impressions (Ghemawat, 1992). VII. Recommendation After weighing the alternatives and their pros and cons, it would be most beneficial for Coors to select strategic option one, and construct an additional brewing facility. If they were to select strategic option 2, and the effects of their marketing campaign were favorable, they may not be able to keep up with demand which would be disastrous for the company. It may take them too long to make the necessary expansions in time to capture the additional market share. Constructing another brewery would also serve to drastically lower shipping costs. VIII. Implementation There are a number of strategic steps that will need to be implemented. Coors will need to ensure that it has the necessary funds for completion of the project. If they do not have the necessary funds, they will need to be acquired through efficient channels. Second, the site will have to be purchased. Any local environmental or social regulations or preferences will need to be planned for. Construction of the brewery will begin. Finally, the project will need to be completed on time to meet projections of needed capacity from the brewery to satisfy the demand needs of the east coast. Necessary sunk costs will need to be maintained to aid in startup of the facility including provisions for raw materials and machinery, as well as beginning the brewing process. Finally, Coors distribution network will need to smoothly integrate the new site into the existing framework. The brewery will allow for additional production of all of Coors product segments, using the existing brand recognition and perceived quality that Coors brands have. The costs associated with shipping will be reduced drastically. Coors has an opportunity to further expand its capacity. Coors position within the industry is currently strong, but the company will need to take the necessary steps to facilitate growth. Fierce competition from Anheuser-Busch, the industry leader will only get tougher if Coors does not take a proactive rather than reactive stance. If the company follows the strategic recommendation above, it puts them in a good position to market themselves additionally, but only after they have the necessary capabilities. IX. Bibliography Datamonitor, Inc. (2009a). Alcoholic Drinks in the United States: Industry Profile. New York, NY. Retrieved April 19, 2010, from the Datamonitor Company Profiles Authority Database. Datamonitor, Inc. (2009b). Beer in the United States: Industry Profile. New York, NY. Retrieved April 19, 2010, from the Datamonitor Company Profiles Authority Database. Datamonitor, Inc. (2009c). Molson Coors Brewing Company: Company Profile. New York, NY. Retrieved April 20, 2010, from the Datamonitor Company Profiles Authority Database. Ghemawat, P. (1992). Adolph Coors in the Brewing Industry. Boston, MA: Harvard Business School. (Original work published 1987) History of Beer Brewing. (2010). Wine Making | Beer Brewing. Retrieved April 21, 2010, from http://www.winemakingbeerbrewing.com/history/history-of-beer-brewing IBISWorld, Inc. (2010). IBISWorld Industry Report 31212: Beer Production in the U.S. Washington, DC: Areeb Pirani. Molson Coors Brewing Company.

Discursive Written Analysis of Wherever I Hang by Grace Nichols and Reflections by Mario Petrucci

Reflections. Mario Petrucci. On first looking at the two pieces I have chosen, the preference of dialect fluctuate to a great extent, giving each poem a dissimilar insight to the dialect to each author. In Wherever I Hang, the idiom is of a native tongue to the Caribbean, with its seemingly imperfect sentences. ‘Had big rats in de floorboards' V1 Line 5 Where as Mario Petrucci has used Received Pronunciation, giving the reader more complete sentences. ‘Bees will sting like a razor' V1 Line 1 The vocabulary in Petrucci's Reflection is uncomplicated to read although every line is a metaphor, proficiently put together to make the reader observe each line in detail. While also generating a number of connotations in each line, giving the reader room for thought. A good paradigm could be gained from almost every line, but the fourth line is most apt. ‘Hills as old as hats' V1 Line 4 It isn't until one hears this that the thought of hats sat on top of a wardrobe or on shelves in hatboxes, comes into realization of the accuracy that this one sentence becomes clear, giving the line a conceit of its own. On the other side of the scale is Grace Nichols Wherever I Hang, which although clear in its context, can be hard to read if the accent is not known. In the first line there are repetitive determiners with the word use of ‘me' three times. ‘I leave me people, me land, me home' V1 Line 1 Also in this line the writer uses a repetition of nouns with no pre or post modifiers. This could be because the writer is generalising her whole life, and the world she knows rather than saying her family and friends. Also it must be taken into account of the fact this is a Caribbean poem and family and friends could be more thought to come from a European writer and would distort the poem, bringing to much plain English into the first verse, rather than it all being in the second, when she is changing from one culture to another. ‘And is so I sending home photos of myself' V2 Line 1 Within the first line of this rhyme, Nichols has used a repetition of nouns and reiteration determiners to emphasise just what she has given up to come to a new land. Possibly giving the reader the vehicle of travel and a new country and the tenor of a lack of feeling of belongingness. ‘Divided to de bone' V3 Line 2 This poem shows a big distinction in the cultures that Nichols has become in contact with, ‘de sun' along side ‘De misty greyness'. Although one must note that this is a connotation of how the writer sees the two different countries and may not be how a visitor to the Caribbean or a born English person may see the variation. Nichols has used antonyms to empathise the difference in each place. The vast array of bright colours of the ‘Humming-bird' and ‘de sun' compared to the dull grey ‘pigeons', ‘snow' and ‘cold' of this new wonder land. Also Nichols has given the reader a possible alliteration to show how that Nelson's Column is higher than most things she has encountered before. ‘I see Lord Nelson high-too high to lie' V1 Line15 This is also ambiguous sentence as the word lie can be taken to mean that Nelson is to high to lie down or to high to lie to anyone. Nichols gives us a representation of the life she is leaving, with ‘de sun' and ‘de humming-bird spendour' giving the reader a image of hot happy days, where as Petrucci's verse is more a reminder of things that are responsibilities to most people. ‘A nut, tough as a tax form'. The two poems contrast each other with the life they portray, until fifth line in verse two of Wherever I Hang. ‘I begin to change my calypso ways' V 2 Line 5 Here is the change in the poem, from the leaving of a home to come to what the writer has considered a dream country. This is the point that the author starts to become like the people in the land she now lives and take on their lifestyle. But this is also where the writer looses a lot of her homeland traditions and the divide starts. Nichols gives the reader different time spans but has written the whole piece in present tense. The effect this gives is the reader embarking on a journey through the poem with the writer. With her use of a metaphor ‘They solid to de seam', an alliteration on the ‘p', ‘people pouring' and a simile ‘Like beans', Nichols is pushing the reader to realize how different this feels to someone who has never felt or seen things like this. This poem has a non- repetitive rhythm that is filled with personal nouns with the use of ‘me' and ‘I'; it also has no punctuation. Petrucci's Reflections on the other hand, is a blank verse pentameter, with use of copular verse and all written in future tense. The writer has used words like ‘will' rather than ‘is' to give the reader the hint that the poem is about something that will happen in the future, almost saying its impossible to avoid. ‘The air will be clear as glass' V1 Line 2 The whole poem could be considered to have a connotation meaning, in which it is the view of how the author sees things in life, even though it has no narrative. In the second verse, line one there is a possible alliteration within the metaphor. ‘Trees will be sturdy as girders' V 2 Line 1 One could pick out of this poem the subject, verb and object of every line, with a few added fillers to make the whole piece make sense, right up to the last but one line. Here the pattern is broken and the fourth line in verse three is not a metaphor. This could be to express what the possible tenor is. The Internal rhyme differs in this line also, unlike the rest of the poem, which has iambic pentameters in every line. ‘And the button, that big red button' V3 Line 4 This could be taken in two ways, which is what the writer could want from the reader. One could be the threat of nuclear war and the fear of the Red Button that hangs over our heads, giving it an elegy. But another meaning could be linking the final but one, line with the final line of the poem. Petrucci could be using the old metaphor bright as a button, but replacing it with child to express the cycle of things, as in the whole world starts again, and so do the metaphors within the last line. ‘as bright as a child.' V4 Line 1 This is not the first time Petrucci mentions people in his poem. ‘Clockwork regular as citizens' V2 Line3 This line gives the reader the picture of people rushing to work or where ever in the rat race, which could be joined with the same line, giving it an ambiguous meaning. The rat race could be also taken as mice, as they are from the rat family. The mice could be also meaning from the nursery rhyme hickory dickory dock, and the mouse that ran up the clock. In the second verse of Nichols ‘Wherever I Hang', we are given a high level of co- ordination with ‘And is so' used in three lines, almost to show the reader that the change in the writers ways in inevitable. The dialect that is used in this second verse has changed to some extent to what is considered more English with the word ‘I' instead of ‘me', which is continually used in the first verse. Although the Caribbean word use is still present with the occasional use of ‘me' and ‘de'. ‘And waiting me turn in queue' V2 Line 8 The sentences are more complete in this verse, rather than ‘At first I feeling like I in dream', (V1 Line 8) the writer is using more English dialect than her native dialect, ‘I begin to change my calypso ways' (V2 Line 5). The whole of Nichols poem has many personal pronouns, unlike Petrucci's, which has no personal pronouns at all.

Oligopoly Problems

Oligopoly Problems (Note that second page has some partial answers so that you can check yourself. I think these are correct, but I did it quickly. So I will offer one bonus point per mistake for the first person who finds the mistake in my answers with a maximum of 3 points per student. ): 1) Demand is given by P=100-Q/2. Two firms compete according to the Cournot model and each has TC=10q. What profit does each firm earn?How would your answer change if the second firm observed the first firm’s decision (this is the Stackleberg problem)? 2) Demand is given by P=80-2Q. There are three identical firms each with TC=10. Find the profit of a firm if they each pick quantity simultaneously (Cournot). Find the Profit of a firm if the each pick price simultaneously (Bertrand). 3) Suppose there are n firms that compete according to the Cournot model and that each has MC = C. If demand is given by P=A-BQ, what profits will a firm earn?What would a cartel do? 4) Factory 1 has TC=20q +10 and Factory 2 has TC=10q. If both factories are operated by rivals who compete according to the Cournot model, what profits would each earn assuming that demand is given by P=180-Q? If this was one firm (a cartel) what would it do (hint: if the one firm decided to operate both factories it would want MC to be the same at both locations or else it could increase profits my shifting where it produced)? 5) Firm 1’s demand is given by P=49-q1+0. 5q2 and Firm 2’s demand is given by P=49-q2+0. 25q1. If TC=q2 +5 for each, what profit will each firm earn? What kinds of goods are the two firm’s selling? 1) q1=60 and q2=60 for Cournot while q1=90 and q2 = 45 for Stackleberg. 2) Under Cournot, q1= q2 = q3 =10. Under Bertrand, the firms will push price down to 0. 3) Each firm will produce q = (A-C)/[B(n+1)] under the Cournot solution. 4) In the competitive situation, q1=50 and q2= 60. 5) Each firm would make q=13. 07.

Pre-modern China essays

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Free Essays on Romeo & Juliet

William Shakespeare’s Romeo and Juliet is one of the greatest literary examples of human fallibility. In the play, many characters, which include Friar Lawrence, the Montagues, and the Capulets, make seemingly small, absurd mistakes that cost the two young lovers, Romeo and Juliet, their lives, proving how erroneous even adults can be. The irrationality of the Montagues and the Capulets lies in their inability to recognize how their ongoing feud is destroying both them and their enemies. They continue to feud, and put no effort into stopping the feud. Although the quarrels are usually amongst the servants or disgruntled cousins, they still affect the relations between the families. Romeo and Juliet, in love, but not wanting to upset their families and spark another fuse, marry in secret. This is where the trouble begins. All goes well until Juliet’s parents inform her she is engaged to Paris, a friend of the Prince of Verona. However, as we know, one can’t marry two people. Desperately seeking help, she goes to Friar Lawrence, who suggests she fake her death, a plan that seems doomed from the start. He gives her a potion which will cause her to appear dead while Friar Lawrence sends for Romeo, who is in exile after killing a Capulet, Juliet’s cousin. However, Romeo’s serving man spots her and assumes she has died, which is, as we know, not true. He rushes to Romeo before the Friar can send for him. Romeo arrives at her tomb and meets up with Paris. They duel, and Paris is slain. Romeo, under the false assumption that Juliet is dead, leaving him no purpose in life, kills himself. Juliet awakens shortly after to find both Paris and Romeo dead. She, too, takes her own life. If this story does not prove human fallibility, nothing does. However, interestingly enough, while the above mistakes do cause the death of Romeo and Juliet, they lead to the reconciliation of former strife between the houses of Montague and ... Free Essays on Romeo & Juliet Free Essays on Romeo & Juliet William Shakespeare’s Romeo and Juliet is one of the greatest literary examples of human fallibility. In the play, many characters, which include Friar Lawrence, the Montagues, and the Capulets, make seemingly small, absurd mistakes that cost the two young lovers, Romeo and Juliet, their lives, proving how erroneous even adults can be. The irrationality of the Montagues and the Capulets lies in their inability to recognize how their ongoing feud is destroying both them and their enemies. They continue to feud, and put no effort into stopping the feud. Although the quarrels are usually amongst the servants or disgruntled cousins, they still affect the relations between the families. Romeo and Juliet, in love, but not wanting to upset their families and spark another fuse, marry in secret. This is where the trouble begins. All goes well until Juliet’s parents inform her she is engaged to Paris, a friend of the Prince of Verona. However, as we know, one can’t marry two people. Desperately seeking help, she goes to Friar Lawrence, who suggests she fake her death, a plan that seems doomed from the start. He gives her a potion which will cause her to appear dead while Friar Lawrence sends for Romeo, who is in exile after killing a Capulet, Juliet’s cousin. However, Romeo’s serving man spots her and assumes she has died, which is, as we know, not true. He rushes to Romeo before the Friar can send for him. Romeo arrives at her tomb and meets up with Paris. They duel, and Paris is slain. Romeo, under the false assumption that Juliet is dead, leaving him no purpose in life, kills himself. Juliet awakens shortly after to find both Paris and Romeo dead. She, too, takes her own life. If this story does not prove human fallibility, nothing does. However, interestingly enough, while the above mistakes do cause the death of Romeo and Juliet, they lead to the reconciliation of former strife between the houses of Montague and ...

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