Operation Management Practices And Tactics Of Hotel Novotel Tourism Essay

Operation Management Practices And Tactics Of Hotel Novotel Tourism Essay Operation management plays an immense role in success of both manufacturing as well as service industry. The given project deals with operation management practices and tactics used by Hotel Novotel, a well known four star hotel in UAE. After providing required information about the hotel, its operation management process has been discussed in-depth. Later on, the competitive priorities of the hotel as well as analytical techniques used by the company have been analyzed. Using the required information, major challenges existing in the operation management process in the hotel has pointed out. Finally, some feasible solutions to mitigate the problems have been suggested. Information has also been given regarding the possible hurdles to be faced by the hotel while implementing the required changes in the operation management practices. The executive summary has to be rewritten in a professional way About the Company The project how come the project has chosen the Hotel Novotel in order to provide an in-depth analysis of the operations management in the company. It has around 400 hotels and resorts which are located at 58 locations all across the world. The company chooses the city centers of the important business destinations, tourist spots and business districts in the world. The hotel structures are based on modern and simple designs. The hotel provides the leisure travelers and businesses spacious and modifiable rooms for working and relaxing in standardized offers. Moreover, the companys restaurant meals and food services are offered throughout the day. Apart from these, it provides meeting rooms, an attentive group of staff and relaxation and fitness centers for the children. The company reflects immense sense of responsibility through its involvement in Accors Earth Guest program to achieve sustainable development. It has also committed to all its hotels to acquire the Green Globe certifi cation for environmentally responsible travelling and tourism by 2010 (Novotel-a, Nearly 400 hotels throughout the world). The most outstanding hotel of the group is the Novotel World trade Centre based in Dubai. The company provides the best location to conduct business from or to explore Dubai. The company is located very near the leisure and business hub of Dubai. This makes it the most preferred and attractive option for the professional travellers and holiday makers. Staying at the hotel one finds oneself very near the most attractive and popular tourist attractions, famous shopping malls and the best night spots in Dubai. (Novotel-b, Practical Information) A critical assessment of the operations management processes in the company, with an evaluation of the successful and not-so-successful aspects of the processes Operation management process in the company Dubais hospitality is one of the fastest growing sectors that have witnessed several changes in last few decades. Like any other company, the role of operation management is equally crucial in a hotel. It will not be wrong if one says that success of an organization operating in hospitality industry highly depends on efficiency with which operations are managed. The same is true of Hotel Novotel World Trade Centre Dubai. In general the role of operation management is to control and coordinate four vital functions in the hotel. Among these functions, the most vital one is food production. This function deals with purchase of products and planning the menu card. Therefore, this section is mainly related with the supply chain management and maintaining the hygiene. The second most function is food and beverage service. This deals with purchase of wines and beverages, meeting the guest and taking the orders and rendering services to the customers. Housekeeping is also equally vital function for a hotel. Apart from the above mentioned functions, there is one more function that needs to be managed efficiently; this is front office operation. This function deals with reception as well as accommodation of the guests and rendering them with further services. Hotel Novotel World Trade Centre Dubai is quite conscious about the quality maintained in its products and services offered to the visitors. The management has taken utmost care to understand the changing requirement of the guests that visit the hotel. Apart from the local guests, number of international visitors is also growing at a faster rate. Thus, the hotel prefer to retain international standards in terms of the foods and beverages served to the customers and the quality of the services offered to the customers. However, the essence of its local culture is distinctly visible at each and every part of the hotel. In Novotel, the responsibility of the customer relation management department is to determine the level of satisfaction among its customer base. This department work hand in hand to find out changing needs of the guests that visits the hotel. As per the data collected from the market, the management introduces required changes in the foods and beverages served to the customer, the internal environment and the efficiency level of the existing staff. For this, the hotel gives special emphasis on technology to maintain high level of coordination and fast flow of reliable information from one department to another. Competitive priorities of the hotel The term competitive priorities had its origin in manufacturing sector. It takes into account elements like price, quality, deliverability, flexibility and innovativeness. Corbett and Wassenhove (1993) pointed out that these elements are often used to measure external as well as internal competitiveness possessed by the company (Abdullah Bakar, p.21). Therefore, the term competitive priorities can be defined as a set of goals for manufacturing, consistent with the corporate or business unit goals (Abdullah Bakar, p.21). However, competitive priorities are applicable to the service sector also. Traditionally it has been noticed that a company or an organization can achieve competitive priorities mainly through four distinct manners; these are low cost, quality, delivery time and flexibility. Later on the fifth element in form of innovation has been added. With time, the hospitality industry in UAE has emerged out as one of the attractive sector for the new entrants. The government is taking special interest to flourish the UAEs hospitality industry and thus several international players are getting attracted to enter this sector. Such an environment has increased the degree of competitiveness among the existing hotels and they are using different strategies to gain a competitive edge in the industry. Hotel Novotel World Trade Centre Dubai has paid special attention on the quality of the service rendered to the visitors. To enhance the quality of the service, the hotel paid special attention towards information technology. The management decided to make utmost use of information technology to improve operations by coordinating the supply chain, making the staff member friendly with IT and a customer relationship management (CRM) system that is based on latest software and technology prevailing in developed nations. In the 2003, the hotel arranged IT training for the staff members so that they can get accustomed with three IT systems. Property Management System (PMS), Fidelio was introduced to the staff members so that they can have easy access to information regarding existing number of guests, availability of rooms and specification about rates. This software makes the process of booking through internet from any part of the world quite simple and fast. The staff members were als o make accustomed with Accor Groups Central Reservation Systems (CRS), TARS to make the booking process versatile. Novotels Yield Management System (YMS) was designed to help the streamline groups and the corporate groups so that they can have proper information about forecasted room occupancy and its availability. The hotel also introduced latest technology to fulfill requirement of the guests in best possible manner. The visitors can use internet to check mails, pay for bills, do high-tech conferencing and many more (United Arab Emirates, Novotel World Trade Centre Hotel, Dubai staff trained in latest information technology). Therefore, the management introduced technology to improve the quality of the service offered by upgrading the skill and knowledge of its staff members. Apart from developing the human resource, the hotel has taken utmost care to make the services flexible enough. This has been done to fulfill unique requirement of different guests who visit the hotel. For the corporate guests, the hotel has 8 fully equipped conference rooms with soundproof walls. The interior environment is quite refreshing and offers accommodation for 150 people to conduct conferences, seminars and meeting. To match with the requirement of its customers, the hotel provides 24 hour reception and availability of airport shuttle round the clock. Other facilities like ATM, baby sitting and banquet is also available to cater needs of its guests. All these facilities provide required competitive edge to the hotel. Analytical techniques used to improve the efficiency and effectiveness of operations Hotel Novotel World Trade Centre Dubai relies highly on quantitative and analytical techniques for making decision. The hotel has a central data warehouse which has access to data from each and every functional department. This data is of great help as the management churns them to understand the performance and the changes taking place. As for example, the marketing department will use the data derived from the data warehouse to study changes taking place in the occupancy rate in past few years. Considering this information, they will forecast the future trends in coming months. Again this information will be used by the finance department to develop forecasted cash flow and cash management policies. Similarly, the data from central data warehouse is used to identify the change taking place in customer satisfaction level. If the management determines that number of customers complain regarding the service quality is increasing, then they ask the customer relationship management department to provide the reason behind and to take required action to find out the root cause so that the existing loopholes can be rigidified. Management also introduces changes in the rates, policies and services offered to the customers. Major challenges faced by the operations management in the company. Outline of the existing problems in operations management in the company and identification of potential causes of these problems One of the most important ventures of the company has been its attempt to join hands with Suitehotel. The idea was to merge the already good client base of both, which would result in the emergence of an enhanced business. However, it is obvious that Suite Hotel would gain greater advantage over the former and that Novotel would back the needs of the hotel and assist in its growing and taking up the market standards. (Accor, The new generation of Suitehotel is Suite Novotel). It is possible that this move would lead to the loss of market of Novotel. Moreover, Novotel already had a brand image which was operating successfully. This move would lead to the change in its brand image which would require new advertising strategies. One important challenge that the hotel might have to face is the rapid changes in technology. Technology in the form of communication, computers, mechanical instruments and personal devices has a critical effect on the operations of the hotel. Since the hotel is meant for travelers and businessmen, it would require highly advanced technological instruments. Most travelers would want high speed of information accumulation, transfer, storage and manipulation. People would expect that when they would rent a hotel room it would keep them as proactive as they would be in home or in office (OFallon Rutherford, p.2). The world is also witnessing changes in the travel patterns of people. Changes in the airlines regulations have also changed the number of visitors to the hotels or the frequency of visit of travelers. In fact hotels are increasingly choosing to locate themselves near the airline hubs. This is because it is known that business travelers would not want to move into the interiors of city. Meetings and conferences can be established in the hotels. Novotel must face the challenge to provide such prompt services to its travelers in order to stay ahead of its competitors. The company also has to keep changing its pattern of investments. Currently the hotel operations do not only depend on a single entrepreneurs vision. The management must design strategies and tactics in order to achieve any unanticipated financial goals (OFallon Rutherford, p.2). The following figure shows the changing pattern of residents of UAE. Figure 1: Change in spending pattern of UAE residents (Source: Zawya, UAE residents spending pattern increases in 2010) Recommendations provided to improve the situation. What would be the potential impact? What are the potential difficulties in implementation? First of all merging with another company requires complete restructuring of the present policies and strategies. It is recommended that there is no fall in the level of performance resulting from the merging. Merging is associated with combining two different cultures and strategies. The set of operations of Suitehotel would be different from that of Novotel. The company would have to develop and implement common cultures and operational procedures which would be followed by all. Today the world has become extremely competitive. It has been changing rapidly with the growing needs of businesses. The hotel is most frequently visited by businessmen and travelers who would require the most advanced instruments and devices. It must keep upgrading its technology according to the requirements. The people coming for business purposes should be given technological assistance which would not hinder their work progress. The rooms meant for meetings and conferences should be made available whenever required. Portable computing, PDAs or personal data assistants, and internet services should be made available which allows guests to have a transition from home, travel or business to the hotel. Since the company has several hotels across various places, the market for them would also be different. Situations vary between countries and regions. Each hotel has to cater to different types of customers. Thus it would be not be wise to follow the same pattern of operations and services in all of them. Each hotel must work towards meeting the demands of their particular customers. However, the hotels must also cater to the needs of foreign travelers. Recently the travelling pattern of travelers has also undergone a drastic change. The frequency of visits made by foreign travelers has also increased. It is also recommended that company undertake corporate responsibilities more aggressively as this would enhance its goodwill to a considerable extent. It must undertake social responsibilities apart from its businesses and revenue generation. The overall learning from the project While doing the project it was felt that operations management is a critical part of any business. It is more important for a business running across different nations. It requires coordination of activities for successful running of its business. Since the hospitality sector has been booming there would be many competitors for the company. It is crucial for the company to retain its market and continue achieving sustainable development. Businesses remain extremely vulnerable to the fluctuations in the economy. The changes in market conditions and consumer spending also need to be monitored regularly. The company needs to invest in research and development to address any unanticipated situations. The company also remains vulnerable to the changes in externalities, like the government rules and regulations. The government may implement changes in property prices which would adversely affect the company. It also requires alertness on the part of the company. It is important that the co mpany does not violate the rules at any cost, rather devise strategies to use them to its benefits. It must ensure to resort to ethical practices while doing business. Any fraud practices would be harmful for the company and would result in ruining its goodwill. Finally the company must make a feasibility study of its business before venturing. Every step that the company takes must be backed by a feasibility study. It should keep account of the any unforeseen situation which might confront the company.

‘In Paris With You’ by James Fenton and ‘Hour’ by Carol An Duffy Essay

James Fenton born 25th of April 1949 is a modern English poet, journalist a literary critic and was also a former Oxford professor of poetry. He wrote several books about poetry mostly about relationship and war like the collection of poems ‘The Memory of War’. He received multiple of awards for his poetry, the latest was in 2007 when he was rewarded a ‘Queen’s Gold Medal for Poetry’. Carol Ann Duffy born 23 December 1955 is also a modern Scottish poet and playwright. Her poetry style speaks about everyday life experiences through stages of her life about love, memory and languages. She wrote poetry collection, children books and plays. Both poets show heavy feelings about love in their respectful poems but each poem contains different contents but apply to the same theme: love. In Paris With You makes the reader think that the poem is romantic but it actually an anti-clichà © poem that focuses mostly on the poet’s bitterness towards love because he speaks about his experience with his rejected love and his rebound relationship, the poem rejects conventional ideas about love. He might have been in love before and she left him, that is seen when he says â€Å"Yes I’m angry at the way I’m been bamboozled.† and that is why he’s hurt and in need of forgetting about his former lover but isn’t quite there yet when he starts the poem in a negative way: â€Å"Don’t talk to me of love. I’ve had an earful† This suggests that the narrator finds the subject of love difficult to discuss because of his share of love and heartbreak. Throughout the poem ‘Don’t’ is repeated and that indicates repetition in the first and last two stanza, it also shows how controlling Fenton was with his former lover when he’s always saying ‘Don’t’ as she left him. This gives the reader an impression of the poet is possessive and heartbroken because of the ending of his former relationship. The sentence ‘Don’t talk to me of love’ and that proves that the man is determined on keeping the subject of love out of a conversation and detest it being brought up by cause of his heartbreak from his past relationship as if trying to protect himself from further pain. I find the way the poet started the poem in a negative way really intense because the poet jumps into the subject without pleasantries towards love and doesn’t hide his distaste towards it and shows his deep  bitterness against love. Fenton also talks about how he’s victimized and has a feeling of self-pity by love throughout the poem when he describes the state he has been when his relationship ended with his ex lover, how he spent it hurt and drowning his misery with alcohol to help him forget. In the first stanza, he says: ‘I’m one of your talking wounded.’ That has a strong imagery of war because ‘wounded’ suggests that someone is injured in battle and in this case, injured because of love. The poet also mentions that: ‘I’m a hostage. I’m maroonded’ and that show us his emphasize on him being abandoned and deserted as he describes it as he’s trapped and stranded. He uses metaphors when he says that he’s really trapped as a ‘hostage’ and left alone in an inescapable place. He shows rebellion when he says ‘maroonded’ instead ‘marooned’ which is the right term. It gives the reader and idea of how painful love is to the poet and lowers the reader’s expectations of romance and love. Fenton uses a comical rhyme in ‘wounded’ and ‘maroonded’ to add a humor into the poem to lighten up the mood of the poem despite the bitterness. I think that the way the poet describes himself is in a devastating state after being deceived by love. The poem’s title ‘In Paris With You’ suggests a romantic theme but it’s ironic that Paris is the city of love but Fenton is only in Paris because he’s on the rebound but only because Paris reminds him of his former relationship. He uses repetition of ‘I’m in Paris with You’ throughout the poem reflects the speaker’s insistent concentration on the present. Fenton then goes off listing to show his disdain towards Paris’ landmark and how he doesn’t want to visit Paris’ romantic landmarks ‘If we skip the Champs Elysees’ meaning he would rather ‘remain here in this sleazy, old hotel room’ meaning that the poet rejects the traditional and usual romantic gestures and places in Paris and that they are unimportant and that shows us that he doesn’t care about the scenery around him as long being together with his lover, but stay in Paris is only about being on the rebound to forge t his former love, and that he’d rather stay in a cheap hotel room instead of going out to romantic Paris features. It creates an image in the reader’s mind of the tone of this poem where it goes from bitter, sad and  mournful and tells us that the poet doesn’t actually care about the woman or lover he had in company. There’s enjambment between stanzas three and four in ‘†¦in this sleazy†¦Old hotel room.’ That is used because the poet wants the poem read in a faster pace instead of a slow one without pauses in between stanzas so it shows the poet’s thoughts. I think the way the poet emphasize his bitterness towards love resulted to him turning towards alcohol and lust, his behavior is relatable in many ways because after a heartbreak, people tend to try to forget their feelings and their aching heart. Hour talks about how time is an enemy of love and how it destroys love with how quick it goes, that time is an obstacle for love and Duffy starts the poem with: â€Å"Love’s time beggar,† which is personification and it suggests that love is dependent and is a slave for time, that it doesn’t last forever and that is a negative sign. This has a huge impact on the reader because when being in love, there is never enough time to spend together with your lover and it goes quickly. The personification show us the image of love being a beggar and time being someone who would pass by and offer, that is when Duffy used â€Å"†¦but even a single hour, bright as a dropped coin, makes love rich.† And that means that time, which is the passer, offers love only an hour to be spent on and narrator values that and it also shows strong imagery of wealth to present that the love is far more precious than all the wealth in the world. This also suggests to the reader that the time spent between the speaker and her love is valuable for the both of them. Like I said above, love being put as a beggar has a negative tone and that only highlights the fact that time is a problem for love. The poem is a extended metaphor that time wastes love and that is seen when the narrator says: â€Å"For thousands of seconds we kiss†¦Ã¢â‚¬  and that could only mean that the narrator in the poem has been counting the time because she still couldn’t get enough of her lover. Throughout the poem, the poet uses various of imagery of wealth that identifies that the narrator finds the hour spent with her love one precious to her, Duffy uses the sentence: â€Å"love spins gold, gold, gold from straw,† which links to the story of Rumplestilskin where it also talks about how straw turns to gold, it also introduces the contrast to show that opposite  things mentioned in the poem like ‘jewel’ and ‘cuckoo spit’ and in the sentence, the poet says that love is spinning from straw which is negative and an ordinary thing to gold showing that love is cherished and valued. If the reader has experienced love in their life, they will find themselves relating to certain parts of the poem and find that longing love does indeed leave you finding the small amount of time precious. Duffy uses colour like ‘gold’ and wealth imagery when she mentions ‘coin’ – ‘rich’ – ‘treasure’ and etcetera to emphasize that love is more valuable than all the wealth and treasures of the world. I could agree that being in love with someone could leave you dependent on that person and set them as your reason of happiness and that is a beautiful thing, however, people shouldn’t rely on love too much because it will leave them in pain when the other person break their heart or falls out of love. Duffy uses romantic imagery in the first stanza, line 3 and 4 where she shows how unromantic scenery is more than enough for her that her and her lover would rather be out in nature. She says: â€Å"Spend it not on flowers or wine, but the whole of the summer sky and a grass ditch.† And that the place to her isn’t important as long as her lover and she are together, she prefers the outdoors because of the natural setting that surrounds them because of its simplicity. It also displays sign of sibilance and the effectiveness of the narrator’s feeling and her lover would rather enjoy the nature and the natural air instead of going on typical and traditional dates (courting) and that shows non-conventional ideas of love. The reader would find the idea of being out in nature a bit strange for dates but some may relate. Duffy suggests that â€Å"the summer sky and a grass ditch† which is far away from being a traditional place to spend with your love one but the narrator finds it an exceeding choice to enjoy the ‘summer sky’ and not be distracted with people in public, romantic places because the narrator only has an hour to spend it with her love. I find the setting of the poem odd to be a place spent by two people but it only defines who her lover and her are as a couple in this society and how different they are from the rest of normal couples and that is special. Both poems have similarity because they both show vivid feeling conveyed by  the poet. Whilst In Paris with You is bitter towards love, Hour is more about how time is an obstacle for love and spending an hour with your loved one is precious. The structure in both poems is also different. The similarities between both poems use metaphoric language to describe emotional feelings and also write in first person. I like the ‘In Paris With You’ poem because it had a deeper meaning into the words and people would have to read between the lines to finally get it with poetry. ‘Hour’ is a beautiful poem but I didn’t find myself pulled deeper into the words but Duffy does display both light and darkness and that is something interesting.

Book summary of “Montana 1948” Essay

Race, social status and gender are three factors, in which society uses to judge people. Although many people do not agree with this aspect, our society embraces it by categorizing all people under theses three factors. Those who consider themselves to be better then others, attempt to belittle those whom they consider to be weaker. These people are often known, as the Fringe of society. Montana 1948 is an excellent example of this struggle between the weak and the strong. Montana 1948 is a very good example of what it was like to be part of the fringe of society. The author does an extraordinary job at depicting certain struggles of power between the characters in the book. The reason these struggles are so easy to pick up on is because the narrator describes the characters to full detail. This allows for a further enhancement of the book to which you can become more acquainted with the characters. There for you can predict the struggles between characters. One of the main struggles in this story is between the Fringes of society and those who have power. By power I mean those who are able to speak for themselves and defend themselves. Good examples of power, in the society of Montana 1948, are the white men. Those who would be considered a fringe would be the Native Americans, women, and children. It is obvious, in the story, that men had the power. The male characters in the book prove this; such as Wes, his father, and Frank. Each character has a certain overpowering attitude over the other. Wes being the character, which most frequently shows up in all the scenes, is able to take over the scene with his overpowering attitude. This is true because several occasions in the book demonstrate the wife’s reluctant ness to make decisions on her own there for always seeking Wes’s approval; † If my mother said it, it was so, yet my father’s confirmation was still necessary† page 43. This demonstrates the superiority that Wes had over the family, hence putting the wife on the fringe of the household. Frank on the other hand is more of an easy going character, but since he was a doctor and was his fathers favorite, he is given more liability and credit over Wes. â€Å"Frank was witty, charming, at smiling ease with his life and every thing in it. Along side his brother my father soon seemed somewhat prosaic. Oh, stolid, surely, and  steady and dependable. But inevitably, inescapably dull. Nothing glittered in my father’s wake the way it did in Uncle Frank’s†, page36. In this case Wes has always had to struggle with Frank over favoritism over their father. This favoritism is apparent when their father gets up in front of a large crowd to address his son Frank as a war hero, † Now I’d like to bring my son up here.† Page 37. The favoritism is also imminent in the way the father addressed the speech, † He simply said â€Å"my son.† And why wouldn’t the county sheriff be called on to make a small speech?† page37. The last character, which is considered to be the most powerful in the book, and a scene-stealer, is Grandpa. Obviously as the head of the family he has power over his sons, but his high social status and wealth also puts him above and beyond most people. This power to which he attains allows him to do most anything he pleases, without having any confrontations from the towns people. â€Å"He didn’t call for silence. That wasn’t his way. He simply stood there; his feet planted wide, his hands on his hips†page37. â€Å"He assumed that once people saw him, they would give him their attention. And they did† page37. This example clearly demonstrates the Grandpas superiority over all the people. These where the main characters, in the story, and they demonstrated what it was like to be above the Fringe. Being part of a fringe, means that you do not have much say around others. Native Americans are a common example of what a fringe is like. They isolate themselves from the town, because white people put down Native Americans due to their race. Native Americans are not the only people part of the Fringe. At times women may be considered that also. For they are not described by the narrator as much as men, hence showing favoritism of men over women by the author. It is true that Native Americans and women are not as socially high as men.

Road Rage - 1653 Words

19 March 2012 Life during the Holocaust: Life in the ghettos, Dr. Mengele’s medical care, and food in the camps Genocide during WWII was unbelievably cruel and awful. The Holocaust was sure to be remembered from this time period and have permanently engraved horrible memories into those who survived. During the Holocaust many victims suffered while living in the ghettos, soon to reach the camps they also suffered there as well. The encounters with Dr. Mengele were unbearable too. Elie Wiesel’s memoir Night is very important especially the fact that it accurately describes what really happened during the Holocaust. One of these many reasons is that Wiesel was an actual survivor of the Holocaust. His descriptions of his experiences in the†¦show more content†¦Mengele (a typical SS officer: a cruel face, but not devoid of intelligence, and wearing a monocle); a conductors baton in his hand, he was standing among the other officers† (Wiesel 29). From this moment on Elie stood frightened like never before. Dr. Mengele being head of selection process only took the fittest peopl e to work. For this process you would want to be between the ages of 16-40. Elie Wiesel and his father lied about their age to make sure they would make it through selection. Elie was 15 but said he was 18 and his father was 50 but said he was 40. Without lying they probably would have both been selected to go to the crematories (Wiesel 30). Elie Wiesel remembers when Mengele was selecting more victims but just by marking their number down. Luckily Wiesel was not selected but more or less hid his number from the doctor as he was running past. The end of the road was near for those who had gotten marked down in the doctors little book (Wiesel 68). Though selection was a big piece of the Holocaust so were the medical experiments held by Dr. Mengele on innocent victims of the Holocaust. His experiences are very similar in detail to others as well. 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Needless to say, almost everyone agrees that road rage is an actual attitude that can be observed on most American roadways. But what is road rage? Is it some kind of medical condition? A certain habit or behavior? Or maybeRead More Road Rage Essay1533 Words   |  7 PagesThesis:Road rage is a major problem in the United States, it causes accidents, anger, fear, and danger to our roadways everyday. Audience: Anyone who struggles with anger management while driving, or the typical aggressive driver. Also teenagers, adults, and elderly people.   Ã‚  Ã‚  Ã‚  Ã‚  Purpose: To inform all drivers of the unsafe and unpredictable behavior present on our roadways. Also to help understand road rage is a problem people have because of their attitude and they bring harm to others. Publication:

Math 533 Part C Essay - 2020 Words

August 26, 2012 MATH 533 Course Project Part C Professor Khago Introduction: The following report displays regression and correlation analysis for AJ Davis Department Stores data on credit balance and size. We will use the data collected from 50 credit customers to complete the following analysis; * Generate a scatterplot for CREDIT BALANCE vs. SIZE, including the graph of the best fit line. Interpret. * Determine the equation of the best fit line, which describes the relationship between CREDIT BALANCE and SIZE. * Determine the coefficient of correlation. Interpret. * Determine the coefficient of determination. Interpret. * Test the utility of this regression model (use a two tail test with ÃŽ ± =.05).†¦show more content†¦The p-value is less than .05 so we would reject the null hypothesis. 6. Based on findings from questions 1-5 we can conclude that the relationship between credit balance and size is linear with positive correlation. That is model is useful for predicting the credit balance using the variable size as a independent variable. 7. 95% confidence interval. (300.788, 505.655). This means that we can say with 95% confidence that the true value of the slope will be between (300.788, 505.655) 8. The 95% confidence interval for the mean credit balance for a customer that has a household size of 5 is (4368.2, 4846.9). The predicted value of the credit balance of a customer that has a household size of 5 is $4607.5. This confidence interval means that with 95% confidence, we can say that the true value of the mean credit balance for a customer that has a household size of 5 will be within the interval ($4368.2, $4846.9) Taken from minitab: Predicted Values for New Observations New Obs Fit SE Fit 95% CI 95% PI 1 4607.5 119.0 (4368.2, 4846.9) (3337.9, 5877.2) Values of Predictors for New Observations New Obs Size 1 5.00 9. The 95% confidence interval for the mean credit balance for a customer that has a household size of 10 is (5927.0, 7320.4). The predicted value of the credit balance for a customer that has a household size of 10 is $6623.7. This confidence interval meansShow MoreRelatedMath 533 Part C1131 Words   |  5 Pagesï » ¿ PROJECT PART C: Regression and Correlation Analysis Math-533 Applied Managerial Statistics Prof. Jeffrey Frakes December 12, 2014 Jared D Stock 1. Generate a scatterplot for income ($1,000) versus credit balance ($), including the graph of the best fit line. Interpret. This scatter plot graph is a representation of combining income and credit balance. It shows the income increasing as the credit balance increases. As a result of this data it can be inferred that thereRead MoreThe Goals of Junior Reserve Officers Training Corps1483 Words   |  6 Pageslives of its students, it is first necessary to elucidate the history of this program, which was implemented on a nationwide level in 1916 yet had individual components as far back as the latter portion of the 19the century (Pema and Mehay, 2009, p. 533). The program significantly increased in scope and participation during the final decade of the 20th century due to a variety of factors, including the 1992 development of the JROTC Career Academy model by the U.S. Department of Defense and the U.SRead MoreEssay on Math 533 Final Exm1741 Words   |  7 PagesMATH 533 Final Exm Click Link Below To Buy: http://hwcampus.com/shop/math-533-final-exm/ Or Visit www.hwcampus.com 1. (TCO A)Consider the following sample data on the age of the 30 employees that were laid off recently from DVC Inc. 21 38 20 26 37 52 37 24 45 20 50 49 44 30 29 42 56 46 60 30 32 25 47 55 38 Read MoreEssay Statistic Project Part C644 Words   |  3 PagesPROJECT C MATH 533 INSTRUCTOR Prof AMIR SADRAIN 1. Generate a scatterplot for CREDIT BALANCE vs SIZE Regression Analysis: Credit Balance ($) versus Size 2. Determine the equation of the best fit line, which describes the relationship between CREDIT BALANCE and SIZE. There is a slight positive relationship between credit balance and size The regression equation is Credit Balance ($) = 2591 + 403 Size 3. Determine theRead MoreAj Davis Department Stores1219 Words   |  5 PagesAJ Davis Department Stores - Project Part A, B, and C Stacie Borowicz June 14, 2013 Math 533 Project Part A – Exploratory Data Analysis Credit Balance ($) Based on a sample of 50 customers, the credit balance for customers of Davis Department stores is on average $3970.00. Based on the graph, 18 of the 50 sampled fall below and 17 fell above the average. The standard deviation for credit balance is 931.9. Income Annual Income of Davis Department Stores customers range anywhereRead MoreMath 533 Part B1210 Words   |  5 Pagesï » ¿ PROJECT PART B: Hypothesis Testing and Confidence Intervals Math-533 Applied Managerial Statistics Prof. Jeffrey Frakes December 8, 2014 Jared D Stock A.) The average (mean) annual income was greater than $45,000 Null Hypothesis: The average (mean) annual income is greater than or equal to $45,000. Ho: u $45,000 Alternative Hypothesis: The average (mean) annual income was less than $45,000 Ha: u $45,000 I will use a = .05 as the significance level, andRead MoreKeller Math 533 Project Part B1734 Words   |  7 PagesMath 533 Project Part B In regards to the dataset from AJ Department store, your manager has speculated the following: the average (mean) annual income is less than $50,000, the true population proportion of customers who live in an urban area exceeds 40%, the average (mean) number of years lived in the current home is less than 13 years, the average (mean) credit balance for suburban customers is more than $4300. Part 1. Using the sample data, performRead MoreEssay about Equal Gender Representation in The Gaming Franchise2431 Words   |  10 Pagesbeloved by their followers that the annual Entertainment Software Association reports the gaming industry at an estimated $17 billion dollars franchise; globally that number increases to $67 billion of which 48% is female and 52% male. Females are also part of the gaming population, representing 47% while the males represent 53% (E.S.A., 2012). This means that both males and females support the gaming industry, as well as production of their products, both financially and through its use; although, theRead MoreMgmt 5331840 Words   |  8 PagesMATH 533(Applied Managerial Statistics) Project AJ Davis Department Stores; Part C: Regression and Correlation Analysis Using MINITAB perform the regression and correlation analysis for the data on CREDIT BALANCE (Y) and SIZE (X) by answering the following. 1. 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Describe the Strategic Challenges Facing Apple Computer

Apple Computer, Inc. Frances Woodyard Jacinta Acquay BUS 499 - Business Administration Capstone 1/29/2012 Describe the strategic challenges facing Apple Computer. The fast pace of technological change and competition are the challenges that Apple Computer is facing. Its strategic moves into communication devices and portable devices for downloading music and movies the company is in stiff competition from all venues. With no entry barrier in this business Apple has competitors, with lower priced imitation products which will threaten to lessen the value of Apple products and its strategy success (Hitt, M., Ireland, R., Hoskisson, R., 2011). Apple faces many challenges to maintain its core competencies: marketing, innovation,†¦show more content†¦Retention of customers is also a sign off success (Richardson, M., nd). .Communicate with the business’s customers using either an online survey or mailing one to the home or business. The results of this survey will provide insight into how satisfied the customer is with the products and services the company offers (Richards on, M., nd). It will also give valuable information on the customer’s needs, and their opinion on the company overall. In the end a golden opportunity will await to increase the customer’s satisfaction. Employees need to be communicated with to check their level of job satisfaction. If the business is to be successful they need to have satisfied employees. With satisfied employees the company will reap the benefits of a more dedicated, enthusiastic and more productive work force. Management should reward their employees with bonuses and incentives and a thank you for a job well done (Richardson, M., nd). . Be on the lookout for new products and services for their customers. It does not have to be a brand new product, it could be as simple as improving an already offered product. Introducing new products and services is a sure sign of growth and success (Richardson, M., nd). Describe the critical external and internal environmental factors that have strategic implications for Apple’s future. Globalization is something that Apple has to do to continue to succeed and keep the number oneShow MoreRelatedApple - Describe the Key Strategic Challenges Facing Apple Computer1245 Words   |  5 PagesAyomipo Burch Williams Loelius Strategic Management Concepts amp; Cases 07/22/2011 * Describe the key strategic challenges facing Apple Computer. * One of Apple biggest key issue will be the rate that technology is growing and the ability to keep up with and also the prices at which there products are sold for; they are face with constant new arrivals at prices that are more affordable especially in today’s economy where everybody is looking for ways to save money. They areRead MoreApple Inc.1194 Words   |  5 PagesApple Computer Inc. Strayer University Bus 499 January 29, 2012 Professor Erica Atkins Abstract This paper describes the key strategic challenges facing Apple Computer. This paper will also describe the dimensions along which company success can be measured. We will also describe the critical external and internal environmental factors that have strategic implications for Apple’s future. This paper will further explain how Apple’s strategy stands up against industry rivalry. In closing we willRead MoreThe Key Strategic Challenges Facing Apple Computer1162 Words   |  5 PagesDescribe the key strategic challenges facing Apple Computer Apple Computer is currently facing many strategic challenges, the first challenge is competition from new and existing companies. 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The growth of Internet and computer technologies have created new opportunities to better serve the corporations and consumers. Describe 3 new technologies that have changed the ways people communicate or the ways companies conduct their business. ANS: New technologies offer services and products that otherwise would be too difficult, costly, or time-consuming and the Internet allows traditional competitors to introduce new products and services and lure customers away. It helps a lot in costRead MoreMarketing Plan of Apple Inc2585 Words   |  10 PagesSummary This paper comprehensively describes the marketing plan of a charismatic organization Apple Inc. The main focus of the paper is to describe the most important marketing strategies which Apple has espoused from the date of its emergence and different challenges which it has faced from time to time. The paper begins with an introduction to the organization. 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Essay3368 Words   |  14 Pagescorporate culture of the Apple Inc, a US-based consumer Electronics Company which creates, design, produce, path-breaking and world-changing electronic products and systems, including Macintosh line of computers, iPhone, Ipad and OS X operation system. The Apple store also provides hardware and software product for customers around the world. Established since 1976, Apple Inc. has become the largest technology computer in the world according to Apple’s (2011) website. The goals of Apple Inc. are all aim

International Marketing Management Education - Law - Human Resources - A

Question: Describe about theInternational Marketing Management for Education, Law, Human Resources, Accountancy?. Answer: Introduction International marketing consultant is a person who is an expert, responsible to provide expert advice in a specific area like security, management, education, law, human resources, accountancy, marketing and some other significant areas. Therefore, this particular research work would try to analyze the situation from the perspective of an international marketing consult, as he is considered to be an expert professional in the particular area, having vast knowledge in the subject. For this research paper, Tesco has been selected, as it has been planning to take entry into the foreign overseas market with the use of business format licensing as one of the strong market entry approaches. From the organization profile, it can be seen that Tesco is one of the leading organizations who ensures that the employees must not pay more for the branded shop. Apart from that, they have a plan to expand the business in different parts of the world and have opined that everyone in the team of Tesco is highly passionate regarding understanding the customers. Tesco has been planning to take entry into Indian market, as there exist several opportunities in this market. Therefore, this specific research work would try to focus on the importance of licensing, importance of geographic position and historic background of the operating country, market entry strategy as well as some other parts. 1. Focusing on Licensing as a Major Market Entry Mode There exist several market entry strategies like licensing, investment and strategic alliances and among them, licensing plays one of the vital roles overall. It can be stated that the trade barriers are gradually falling around the world and the corporations require having a strategy to take entry into the foreign markets. Alegre and Berbegal-Mirabent (2015) have stated that licensing is another form of licensing and in case of licensing, the licensors would grant an organization in the foreign market a license to produce the specific product as well as use the brand name in return they would receive a royalty payment. Therefore, it can be stated that licensing is defined as the method of the foreign operation whereby a corporation in one country agrees to permit an organization in another country to utilize the manufacturing, trademark, processing and some other skills provided by the licensor. However, it can be stated that this is quite similar to the franchise operation and Tesc o is one of the leading examples in this case (Almadani 2014). It can be mentioned that licensing takes into account little expense as well as involvement; the only cost is signing the required agreement and policing its implementations. In this case, it is necessary to mention the advantages and the disadvantages of licensing, as this would be helpful in understanding the importance of licensing in details. Advantages of licensing have been described in details here. Licensing is a good way to start in the foreign operations and open the door towards low risk manufacturing relationships This is helpful, as the capital not tied up in the foreign market operations Linkage of the parent and receiving partner interests means both get most out of the marketing effort (Arora, Fosfuri and Rnde 2013) Enables several options to buy with the partners and this enables provision to take royalties in their stock Besides discussing the advantages, it is required to mention the disadvantages as well, as this would enable the company to be well aware of the negative facts at the time of taking entry into the foreign market. Limited form of participation in order to length of agreement, particular product as well as the procedure or the trademark There exist a potential threat in returns from marketing as well as manufacturing, as this might be lost (Bently and Sherman 2014) Partner develops know-how and so license is short This demands considerable fact finding along with planning, investigation and proper interpretation Figure 1: Legal issues of licensing in India (Source: Berthon et al. 2012) After discussing these points, it is required to mention that those who decide to license are required to keep the options open for extending the market participation. This might be done through the joint ventures with the help of licensee. From the organizational profile, it can be seen that Tesco has been planning to expand the business in different parts of the Asian countries and it is regardless to say that there exist several rules and regulations in different countries. Customer demand and buying behavior of the customers vary from one country to another and based on the available options, there exist several international market entry options. Therefore, it can be stated that it is difficult to select only one market entry mode to start the business venture in the new country. From the above mentioned case scenario, it can be stated that Tesco can select any of the market entry modes to take entry into the foreign market and among all the approaches licensing seems to be one of the effective ones. As per the viewpoint of Bogers, Bekkers and Granstrand (2012), it can be suggested that Tesco might consider licensing, as licensing agreement is the best possible market entry approach mode to take entry into the foreign market. In this case, Tesco can easily implement a successful licensing approach with an experienced licensor in the Indian market and this would help them to gain greater market share in short time. As Tesco is already present in different foreign markets, they have enough experience in this field. Most importantly, it can be stated that as money is not tied up in the foreign market due to the licensing strategy, this would be beneficial for Tesco and another advantage of licensing is that very little amount of money is required for licensor. Apart from that, this market is easy for the licensors and the company is expected to receive a greater share of the return on investments (ROI). In case of India, there exist some disadvantages in India like legal and regulatory environment including IP and the contact law. Moreover, it can be seen that there is a high chance that the license might become a competitor. In India especially, licensing and franchising strategy is largely adapted by sever al foreign organizations. There is no particular law pertaining to licensing in India and this part is required to deal carefully at the time of expanding the business into Indian market (Bond and Saggi 2014). Figure 2: Licensing framework in India (Source: Brannen, Moore and Mughan 2013) 2. Importance of History and Geography of India Chang, Hu and Lin (2013) have stated that historical background and geographical position of the country assists in marketing management of the international business operation in order to gain better view on the market. It has been seen that in India, the main aspect is diversity in case of both history and geography and thus it is necessary for Tesco to look at this part sincerely. Historical background of India would help Tesco understanding the nature of trade Indians do follow in case of both internal business and external business. Historical aspect would enable Tesco to gain knowledge how Indians do negotiation in business, their used strategies for conducting the business, attitude towards foreign investment as well as the legal systems of India. It can be seen that there exist huge cultural differences in Indian and UK culture and this might affect the business due to their misunderstanding (Czinkota and Ronkainen 2012). Tesco is required to prepare a proper analysis to understand the buying behavior of the Indian customers and based on that, they are required to select the best market entry options. However, it can be stated that understanding this particular aspect would assist Tesco in understanding the role and responsibilities of the Indian Government in the international market along with the relationship of the managers and the subordinates with their subordinates (Dhillon 2013). Figure 3: Retail Industry Sales (Source: Gilligan and Hird 2012) In India, there are 7 major religions and many minor religions along with 6 main ethnic groups. There exist several barriers to trade and investment in some sectors resulting from the regulatory constraints along with local sourcing requirements and import tariffs. It is necessary to protect the Intellectual Property (IP) and at the same time, these are several risks of bureaucratic delays, risk of bribery and corruption and some other issues as well. Climate, topography and population are some of the major aspects that are required to focus on for gaining popularity in the Indian subcontinent (Hawkins et al. 2013). In this part, emphasis is required to shed on analyzing the challenges that Tesco might face in case of operating in the Indian market and these have been mentioned here in details. It can be seen that with the change of geographical location, the shortage of talent as well as the lack of the trained man-power is visible in several places in India. Therefore, it is regardless to say that Tesco would be able to run a stable business in India. It can be seen that in India, a Plethora of Clearances is required to submit before opening a retail outlet, which limits the expansion of retail outlets in the first place. India is one of the developing countries and thus the situation of the roads and transportation is not proper throughout the nation. Therefore, at the time of expanding the business into India, Tesco is required to tie the business knot with multiple vendors in order to fulfill their requirements that would raise the overall price and costs of the business operations (Holtbrgge and Baron 2013) Hovhannisyan and Keller (2015) have stated that the organized sector of India does not have the status of the manufacturing industry that would make it easy for Tesco to raise the necessary funds for their expansion plans in the near future. However, in case of India, some strict restrictions are maintained from the government on FDI limitations and this has been affecting the retail industry to have more exposure. Figure 4: Unorganized and Organized retail sector in India (Source: Kaminski 2014) Tesco authority is required to cope up with the geographical situations of the country, as huge diversity can be seen in weather and temperature of the nation. Various climates and topologies are there in India and at the place of establishing the manufacturing unit, this natural factor is required to keep in mind. If Tesco establishes the manufacturing units in the hot and humid areas of the nation, some extra precautions are required to take for keeping the machines in action. Apart from that, it can be stated that the warehouses of Tesco might be located in those areas where the products would be stored in the hot and humid areas. At that place, Tesco is required to implement some extra artificial technologies in order to keep the products safe and sound (Kanwar 2012). Figure 5: Expected Market Expansion of Retail industry in India (Source: Leone and Reichstein 2012) 3. There Exist no Single Market Entry Mode Magnusson et al. (2013) have stated that there exist a variety of ways in which a corporation can take entry into the foreign markets. It can be stated that no particular market entry strategy exist for all the international market and thus it can be stated that based on the circumstances in the operating country, the entry mode varies. Direct exporting, franchising, partnering, joint ventures and the already mentioned licensing are some of the most effective methods of taking entry to the foreign market. Meissner (2012) has stated that several factors influence the selection of the strategy and these are tariff rates of the foreign country, adoption necessary for the particular product, transportation and marketing cost as well as variation in culture. Direct exporting is such a strategy that allows an organization to directly sell their products in the foreign market. In this case, it can be stated that once an organization gain recognition into the foreign market, it is easy for t hem to adopt this direct selling strategy. In this type of entry mode, the agents and the distributors work closely with the organization in order to represent the interests of that particular organization. These executives become the face of the company and thus it is required for Tesco to select these representatives carefully, if they rely on direct selling approach (Mercurio 2012). Papadopoulos and Heslop (2014) have started that depending on the enriching discrepancy and the geographic position, the market entry approach largely varies. Rapid business model used by the organization has to be unique in nature and at the same time, Tesco is required to have a strong brand recognition that would lead the company expanding in different parts of the nation. As per the viewpoint shared by Parola et al. (2013), it can be seen that Tesco might use partnering strategy for taking entry into the Indian market. The local organizations are there to help Tesco in gaining in depth knowledge of the local market operations, as local organizations in the retail sector plays one of the major roles. Apart from that, partnering is another open option to Tesco, as this would enable this international organization to club up with the existing companies like Big Bazar, as this is one of the leading organizations in India (Parr 2012). However, it can be seen that the total sell of this organization is not same in all parts of India and thus Tesco can collaborate with this organization to gain strong market position. After that, it can be stated that the organization is required to select the target market carefully, as the success of the business largely depends in this factor. As Tesco has been planning to take entry into the Indian market, it is required to set the target market before taking entry into the market. After determining the target market, Tesco is required to conduct a detailed market analysis in order to determine where to expand the business and what the areas that Tesco would be able to take entry besides the foreign markets (Raysman et al. 2014). Runner (2013) has stated that when any organization tends to take entry into the foreign market, it required adopting as well as standardizing its marketing mix. Therefore, it can be stated that in order to make an appropriate marketing decision, a market place required to understand that not only one marketing mix is entirely standardized or adopted. However, it can be stated that as per Stevens and Dykes (2013), the essence of the global marketing is to recognize the balanced localized method of the marketing mix along with the standardized approach of the marketing mix. Therefore, it can be stated that in case of market entry strategy, the major decisions that the responsible managers have to take is the degree to which a corporation must standardize or adopt the global marketing strategy (Terpstra, Foley and Sarathy 2012). 4. Focusing on Non-Tariff Barriers Considering Russia as an industrialized country, it is seen that non-tariff barriers of the country is extremely high. The requirements of Russia related to customs are relatively high and complex. All products that are sold in the Russian market must include relevant information that will include the information related to the product and bulk shipments contain general information that must be written in Russian. Therefore, this process is also time consuming, Most of the organizations are forced to consult with Austrade in Moscow and Vladovostok which can provide the support of specialist Russian customs agents and brokers (Stevens and Dykes 2013). Import duties are applied on most of the products and import license and product specific approvals are highly important for items such as food and beverages, industrial equipment and pharmaceuticals. At the expense of the exporter, sometime the organizations are also forced to run a pre-shipment technical inspection (Wang, Roijakkers an d Vanhaverbeke 2013). There are mainly eight types of non-tariff barriers that an organization faces while doing business in Russia. Those barriers are mentioned in the below table, Limitation on trade Entry measures of customers and administration 1. Allowances 1. Systems of valuation 2. Requirements for import licensing 2. Practices of antidumping 3. Requirements for local content 3. Classification of Tariffs 4. Price limitation for minimum import 4. Requirement for documentation Table 1: Non-tariff barriers (Source: Parola et al. 2013) For dealing with Non-Tariff Barriers (NTB), pertaining towards the business of Tesco in China, the marketers require to understand that how the distribution channels work in the economically developed nations like China and Australia. Market analysis states that the goods products as well as the good services of the organization largely attract the consumers of China. This nature of the business would help the organization to overcome several Non-Tariff Barriers like corruptions, consumers and the transportations. However, it is required to mention that some strategies are there that would help the organization to overcome NTBs like corruption in that nation. This takes into account Intellectual Property (IP) protection of the organization as well as investing in the technical advancements in regards to deal with phoning (Xuegong, Liyan and Zheng 2013). Figure 6: Trends in Tariff Rates (Source: Laurent and Jean, 2014) The above introduced picture has demonstrated the trends in tariff rates globally. In case of India, it can be stated that if the corporations want to deal with the corruptions, they are required to use efficient distributors. Unfortunately, it can be seen that in the developing countries like India, most of the organizations tend to avoid whistle blowing, as they believe that it might hamper the business relationship. In this particular case, a tendency is observed that they hire their local employees and gradually enhance their physical presence and this help them to deal with the NTBs to some extent. Some other ways are there, through which these Non-Tariff Barriers can be managed, like in UK, the government agency required to peruse the responsible Indian government to gradually develop the effective laws, rules and regulations to help in eliminating these Non-Tariff Barriers that the corporation is facing at the time of conducting the business operations (Leonidou, Katsikeas and Morgan 2013). Laurent and Jean (2014) have stated that with the expansion of globalization, an emphasis has been shed on designing the marketing strategies depending on the requirements of the foreign countries. However, it can be stated that there are two significant reasons for undertaking a product adoption and these are- To accomplish the requirements of the foreign market To comply properly with the laws, rules and regulations of the foreign marketplace At the time of conducting the business in India, Tesco is required to put additional warnings on the labels, required by the laws of Indian Government. In India, there are three types of product adoption namely tangible adoption, intangible adoption and promotional adoption. For Tesco, it is required to focus on tangible adoption of products based on the nature of Indian customers and their buying behaviors. However, it is required to mention that as Tesco is one of the renowned global brands, it needs not to change its brand name at the time of expanding the business in the Indian global market (Laurent and Jean 2014). 5. Product life cycle The concept of product life cycle was introduced in the year of 1950 to help business organizations to analyze the desired life cycle of product from design to outmodedness. The major aspects of product life cycle theory are divided into four parts which are introduction, development of product, maturity of the product and decay (Stevens and Dykes 2013). Most of the organizations that are operating globally are using this tool to maximize the value of the product in different countries so that they can gain concentrated profitability in each of those stages. The concept of product life cycle is briefly described in the figure below, Figure 7: Product Life cycle diagram for Global business organizations (Source: Magnusson 2013) This product life cycle diagram is helpful to understand several levels of a product. However, these stages are not the only thing that a company has to evaluate in order to understand the product life cycle. There are different sub-levels in every stage. For example, in introduction stage Tesco will have to consider five ideas that are validation, conceptualization and determination of design, and prototype testing. During the first stage of the introduction, Tesco will use its promotional strategies along with advertisement to increase am improve the companys brand awareness among the people of India (Bond and Saggi 2014). The advertisement strategies will be developed based on the situation and demand of the target market. In order to gain higher brand awareness and larger amount of market share in India, Tesco will select licensing strategy as their entry mode which will help them to make an entrance in the Indian retail market. During the second stage which is the development or growth stage, Tesco will have to select either profitability of market share in Indian market. Tesco will have increase the amount of production which will help them to reduce their unit costs. After the introduction stage, when Tesco will gain some new customers, this second stage will be responsible for increasing the brand loyalty among those customers (Arora 2013). In order to achieve customer loyalty the organization can implement strategies such as discount offers, gift coupons, special events and effective advertisement strategies. This will also help them to grow the market of Tesco in the country. Figure 8: Product Life cycle model (Source: Hawkins 2013) In the next stage which is the maturity stage, Tesco will experience that their sales are going down slowly, and an unstoppable decline will start with that. This would be the high time when the authority of Tesco will have to defend their current market position from the existing market competitors. Some organizations might start selling products a lowest price to challenge Tesco and its brand position in the market. This stage is considered as the longest stage in the product life cycle and it is found that many products stay in this stage for decades (Chang 2013). The last stage of product life cycle would be the decline stage when the sales graph of Tesco will down drastically as shown in figure 8. The revenue will go down also to a stage from where it would be impossible to rise again. In this situation Tesco will have only two options to choose. The author of the organization will have to either discontinue the product or sell the rights to manufacture and maintain the product to another organization. Another unique strategy that the organization can follow is to allow the stocks of the product drop to zero. However, it is recommended that Tesco should sell the product to another company with all the rights related to it. Tesco can also sell only the rights to support the product to another organization while sharing the profits (Xuegong et al. 2013). Then that organization will be responsible for advertising and maintain the product in Indian market. For example, if Tesco is selling some type of clothing product and the product has lost its value, the authority of the organization can sell the rights of the product to Big Bazar which is the most famous retail organization of India. This is a critical stage of the product life cycle model as it will decide how Tesco will respond to its products that have lost market value and popularity. Conclusion This study entirely focused on the entry mode strategy as part of marketing strategy of Tesco that will suit them best while starting their venture in India. Licensing is considered as the best option as entry option for Tesco by which they will able to firm their grip in Indian retail industry. However, as India is place of extreme diversity, it would be difficult to follow only one entry strategy. The management of Tesco will have to conduct a precise research in order to find out the best possible entry strategies for different parts of the country. For example, in one region it is possible that success might gained through licensing strategy; however, one the other hand, it might be found that for another region franchising would be the best strategy. Tesco is currently trying to develop their position in Indian market by only increasing brand awareness among the people. For this reason licensing strategy would be more than enough as it will help them to achieve their initial obj ectives and goals. However, the demand of the customers is not the only thing that changes with the regions, the geographic and historical aspects also varies in India. Therefore, the organization will have to keep that in mind as product life cycle of a product will entirely depend on the cultural needs of the customers that change in almost in every state. 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