The Theory, Differential Association Theory And...

This paper examines the concepts of criminological theory, the history of criminological theory, differential association theory, and the effectiveness of Boys Girls Club of America. The basis of criminological theory is to provide an explanation for what causes crime and criminal behavior. The differential association theory was a leading sociological crime theory that was created by Edwin H. Sutherland. This theory argues that delinquent behavior is learned through interactions and communication with other peers. The purpose of this theory was to develop a theory that could be applied universally among all crimes and criminal behaviors, including white collar crime. Differential association argues that delinquent behavior is learned from an excess of definitions favorable to law violation, and vice versa for nondelinquent behaviors. This theory has its fair share of criticisms; the testability has been scrutinized for the inability to operationalize the concepts of differen tial association. Specific mentoring programs, such as the Boys Girls Club of America, were created to establish a positive environment for youth for development. The Boys Girls Club’s mission is to provide developmental guidance to youth to reach their full potential as responsible citizens. Members have expressed that these clubs provide a caring, nurturing environment, an atmosphere to learn positive behaviors, and assistance in developing diverse skills and abilities. ThisShow MoreRelatedEssay on Criminological Theories13456 Words   |  54 PagesStudent Study Guide for Ronald L. Akers and Christine S. 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International Marketing Marketing Mix

Question: As a marketing consultant for Nike Inc. you have been asked to recommend 2 international growth markets for it to enter in 2017/18. Growth markets should be countries or cities where there is currently no presence. Primary focus for market entry will be through physical store presence but you may recommend that online presence may be required to support this. You should prepare a report for the board of directors addressing your consultancy brief, this should include: An analysis of the macro and micro factors impacting on the sports retail market and the market recommendations An analysis of Nike Inc. internal business factors An evaluation of market potential, to include an identified shortlist of markets with potential. Then using a clear and identified screening criteria, select two recommended markets with clear justification as to why these markets have been selected. Recommended and justified market entry strategy to take Nike Inc. into each of these markets Recommended adaptations to Nikes marketing mix for the proposed markets, ensuring differences in culture and consumer behaviour are recognised in their marketing mix activity Answer: Introduction International Marketing or the international trading is a platform which provides the business with the new approaches and the perspectives. It plays a major role while contributing towards the revenue generation and improves the financial aspects too. The major contributors for the Nike are the North America, Western Europe, Central and Eastern Europe, Greater China, Japan and the other emerging markets. The report defined below is related to the discussion of international market of the Nike. It is essential to conduct the survey and analyze the actual scenario of the market, where the subsidies or the stores are about to open. In the report, two international cities or the countries are defined where Nike can implement its new venture in the year 2016-17. The report shown below covers the major sections like the research analysis and constructive analysis in which there are sub sections too (Nike Team, 2016). This report will be present in front of the CEO, so that the countries c an be finalized for setting up the retail store. To analyze the international market, the two countries which are selected are named as the UAE and the New Zealand (Soni, 2014). These are the countries which also require the retail stores, outlets and manufacturing unit at some of their locations. Research Analysis Before opening the stores or the retail outlets in the other countries, it is essential to go through the suitable studies and research related to the market. By this, the probability and the success of the product may also increase. Some of the major aspects involved in the research analysis are defined below: - Macro and Micro Economic Factors Macro and Micro factors are those which are essential to analyze before starting the business in any other country. These factors can become key to success and can also result to the cause of the problems. The Macro factors generally include the PEST analysis of the country, which is helpful in showing the suitable rules and regulations related to the country. PEST analysis for both the countries, the table is shown below: - PEST ANALYSIS UAE New Zealand Political The rules and regulations for trading are quite tough. The rules and policies are applicable. Economic The country possesses the strong economic background. So, for the sports outlet, no financial issues will happen. The economy of the country totally depends upon the agriculture. So, it is suggested that the outlet of Nike should be open after observing the demographic conditions. Social Socially, the country is very cooperative. The country involved in the CSR activities. Technology The technology is also considered as an additional factor, because to promote the retail store, technology is required. Technically, the country is sound but only in the major cities. Rural areas are still not connected. Environmental The manufacturing units have to place out of cities to prevent the environment. Due to the agriculture perspectives, the production should be secure and environment family. Legal The rules and the policies are tough. So, the legal authorization is must. The legal approval for the retail store and the manufacturing unit is mandatory. (Tick, 2013) After the Macro environmental factors, there are some micro environmental factors too which are creating the impact on the sales and the marketing of the Products. These factors are mainly controlled by the organization. The micro environmental factors affect the small sized, medium sized and the large sized companies in the different manner (Team, 2015). Some of the common Micro Environmental factors for the both the countries are shown below: - Micro environmental Factors UAE New Zealand Competitors Adidas Adidas Suppliers Due to the absence of the manufacturing unit, the shoes demanded by the customers are purchased by the vendors rather than the suppliers. The online sites and facilities are available. Some of the retail stores keep some of the pieces of shoes. But, for the authorized dealership, the Nike have to try hard. Customers Due to the strong economic background, the customers want to purchase the products. The teenagers the youngsters and the sports team of different games will definitely like the product. So, the product should be prepared according to the choice of the customers. Public The hope of the positive feedback from the customers. The hope of positive feedback from the customers. Workers Easily Available Have to search through recruitment Marketing Intermediaries Advertising, campaigning and Promotions Promotions and Advertising is the option. By assuming this analysis, it is clear that the establishment of the Nike retail store in the International market can only become easier when the store will follow all the norms and conditions related to both the countries (Elliman, 2013). Internal Business factors of Nike Due to the strong identification of the organization in the market, the internal business strategy and the internal business environment of the company is also very strong and well defined. There are various primary activities which help the organization maintain the unique identity in terms of the business. On an average, Nike possesses about 765 factories in 46 countries of the World. This shows the efficiency and the effectiveness of the inbound and outbound logistics of the company. To manage and maintain the self-identity and renowned brand name in the world, the Nike used its swoosh logo and the Just do it slogan also (Mai Nicholas Warmke, 2012). The service activities of the Nike are mainly conducted by the internal system of the organization and for the other activities, the organization may use the outsourcing. To handle such a large business, technical aspects are also taken into consideration (Lindblad, 2011). Identification of Challenges While doing the business or launching the new stores, the company (i.e. Nike) has to face the challenges which relate to the customers, the maintenance of the stores, the policies related to the campaigning advertising and many more aspects. For this, the company has to maintain the potential in the international market to perform well. To identify the potential or the market demand, it is essential to collect the data from the customers (Lazazzera, 2014). The mode of data collection may be survey, personal interviews and many other aspects. By this, the product strategy for the international market can be easily planned. For evaluating the potential, the sales analysis of the product, market analysis reports and the other essential reports can be analyzed, so that the actual potential of the market can be determined (Germano, 2013). Justification of the Market As it is clear in the paragraph above that the UAE and New Zealand are selected for introducing the products of the Nike. The reason behind selecting the market will be that there is no manufacturing unit of the company established in these countries and the demand is also rising continuously of these products. To increase the sale of the product in the market and to provide the customers with the various options, these markets are selected. New Zealand generally supports various sports and the economic level of the UAE is very well-defined, so in both the markets, the chances of growth of the product is very high and the customers can easily purchase the products too. Constructive Analysis In this phase, the market entry strategy and the marketing mix related to the company will be defined. By the help of this, the promotion of the company can become possible. Market entry strategy A market entry strategy is the process which is considered as the direct entry of the product in the market, according to the demand of the customer or the country. When any company tries to enter into the overseas market, various growth options are provided to them. Though the market strategy possesses the common methods, but these methods are modified according to the location of the country and the requirement of the customers. To identify the common type of market entry strategies follow the Appendix 1. As it deals with the sports shop and wants to establish the physical store in the UAE, so it is essential to decide the market entry strategy according to the requirement of the country. The most appropriate market entry strategy which provides the growth options in the UAE are the Licensing, Contracting, Merger and Acquisition, Fully owned manufacturing facilities and sometimes exporting also suits the country. After analyzing the key factors related to the Macro and Micro economics, it is identified that according to the investment point of view, the country can support the new venture very easily and by this, the business will get the definite promotion. For an example, in the Gulf countries, mainly in UAE, the females mainly like the high heels and the kids teenagers mainly like the sports shoes. Due to the improvement in the standards of the sports and various games, the sportsperson or the athletes also want some different types of shoes. This increases the demand of the brand ed retail shoes in the market. So, the Nike planned to open the retail store in the UAE. For licensing, the company has to deal with the government and the regulation authorities. Whereas for the manufacturing units, the company can purchase the location and manufacture the most demanded products. For Contracting the Mergers and the acquisition, the shoe company can tie up with the other branded stores or can also sign the treaty with different domain brands (For e.g. sports clothes making company, sports accessories making company). In comparison to the UAE, the New Zealand possesses the slightly different strategy. As the rural areas are mainly focused towards the agriculture, so the location of the store should be decided in such a way so that the possibilities of growth will increase. The most suitable market entry methods according to the New Zealand are the Franchising, contract manufacturing, Joint Venturing and Exporting. Exporting is successful, because it provides only those products which are in demand, but simultaneously with the increase in demands the requirement of the store is also required. Contract manufacturing and the Joint Venturing is also considered as an option in which the chances of product selling increases. The other organizations can easily invest in the contract manufacturing and by venturing, the customers can easily become profitable. Marketing Mix Marketing Mix is the process which is mainly defined for building the suitable identity of the product in the market. The concept of Marketing Mix was firstly defined by the Kotler. Marketing mix mainly consists of the 4Ps namely the promotion, price, place and product. The extended version of the 4 P is the 7 P in which the 3 more factors will be added .They are the people, processes and physical Evidence. The marketing mix plays a major role in the success of the product in the international as well as the local market. To identify the 4 PS in the diagrammatic form see Appendix 2 (Bennett, Coleman Co. Ltd, 2015). In the UAE, there are various sports clubs available which may be helpful in promoting the suitable accessories related to the sports. Some of the common names of the sport clubs are the Al Nasr, Dubai Club for special sports, Hatta club and many more. The first step of the Nike to maintain the marketing mix is the involvement of the Company in the activities related to these sports clubs (Nahyan, et al., 2012). For product, the organizations do not have to make the tough efforts, because due to the brand image all the customers want to purchase their product. For promotion and advertising, the company can support the event and provide the gift hampers. By the help of this, the customers get attracted towards the offers provided by the company. For pricing, the company has to plan the nominal prices, so that it becomes easier for the customers to purchase the products. For better result, the categorization of the size may be done so that the customers can find out their choice easily . For selecting the place to open the store, the Nike can easily get the suitable location, but it would be preferable if the store will open in the Malls or heavily crowded areas. The people also contribute in purchasing the products and due to the advance economic infrastructure, the demands are very high. The marketing strategy also follows various processes to promote the product. In the UAE also, various market processes are followed by the Nike. The brochures, price-list and the product appearance are included in the Physical Appearance. It can be distributed in the printed form to the customers, so that the customers can purchase the products easily.(Team, 2010). Though, Nike already adapts various methods to promote the products. The most common methods are the agreements of the sponsorship with the celebrities and the athletes, support through the college and school students who are interested in the athletics. But, every country possesses the different policies and rules and regulations, so it is essential to identify them (kasi, 2011). Similarly, with New Zealand to manage the marketing mix, the company has to plan various aspects. As the product has already got a strong brand image, so there is no requirement to introduce the product in any of the markets. In the market in New Zealand, the company has to introduce the nominal rate products with good feedback so that the customers can purchase it easily. Its not possible for the customers to purchase the product with high prices. If the product may be divided into category of school going kids, teenagers and college going students, working professionals and many more then the price can be defined easily and the promotion of the product can also become easier. To promote the product, various hoardings, advertisements and communication through the radio can be done. The other mode of publicity can also be used like promoting the sports events, schools and universities event, so that the kids and students get attracted toward the product and the retail stores gets the publicity. For locating the stores, it is essential to select the location according to the demographic conditions of the country (Hanssens, et al., 2005). The most prominent locations should be selected to open the retail store, so that it can become the center of attraction and various customers purchase the products from the store. The people of New Zealand are generally middle class to high class, so the product can only be launched according to the requirement of the customers. The different processes used in the form of the products services are also provided to the customers. Finally, for the physi cal evidences, the promotional coupons or the cash back coupons are provided to the customers, so that they can build the trust on the people. Role of Models in Marketing The models related to the marketing are helpful in defining the different marketing strategy and the methods by which it becomes easier for the organization to enter into the global or international market. Some of the common models are the value chain and discipline model, SKEPTIC Model, Life Cycle Model and many other models (ecdcus Team, 2015). These models directly or indirectly help in defining the suitable platform for the new business in the country or the city. The value chain and the discipline model will be helpful in defining the actual value of the product in the market. Whereas, the life cycle model will define the strategies related to the market from the very beginning till the end (Kerlinger, 1994). Conclusion The market strategy and the future perspectives related to the Nike are already provided above. It is essential to make the suitable marketing strategy to enter in the overseas or the international market. But simultaneously, it is recommended that the pre-preparation and the gathering of the information related to the international market are very essential. The surveys and the market reports also add as an additional feature for the information related to the market. This will definitely contribute in the success of the product in the international market. Bibliography Bennett, Coleman Co. Ltd, 2015. Definition of 'Marketing Mix'. Marketing Mix. ecdcus Team, 2015. Basic Overview of Various Strategic Planning Models, s.l.: ecdcus. Elliman, H., 2013. The Macro Micro elements of Nike. The Macro Micro elements, 12 October. Germano, S., 2013. Nikes Challenge: Staying Ahead of the Pack. Nikes Challenge, 20 September. Hanssens, D. M., Peter S. H. Leeflang Dick R. Wittink, 2005. Market response models and marketing practice, s.l.: John Wiley Sons, Ltd.. kasi, 2011. Marketing Plan of Nike. Marketing Plan of Nike. Kerlinger, F., 1994. The Role Of Marketing Research. s.l.:s.n. Lazazzera, R., 2014. How To Evaluate Market Demand For Your New Product Idea. Market Demand For Your New Product Idea , March. Lindblad, M., 2011. Internal External Factors That Affect an Organization. Internal External Factors. Mai, B. Nicholas Warmke, 2012. Comparing approaches to compiling macro and micro productivity measures using Statistics New Zealand data, Palmerston North, New Zealand: Crown. Nahyan, H. S. K. B. Z. A., H.H. Sheikh Mohammad Bin Rashid Al Maktoum H.H. Sheikh Hamdan Bin Mohammad, 2012. Dubai Sports Council Marketing Manual for Dubai Clubs, s.l.: dubaisportscouncil. Nike Team, 2016. Global Manufacturing. [Online] Available at: https://manufacturingmap.nikeinc.com/ Soni, P., 2014. NIKEs Global Markets: Top Revenue Earners. Revenue analysis for NIKE by geographical segment, December. Team, M., 2010. Marketing Mix of Nike. Marketing Mix, 06 December. Team, U., 2015. Effect Of Macro Environmental And Micro Environmental Marketing. Macro Environmental And Micro Environmental Marketing , 23 March. Tick, N., 2013. Macro and Micro Factors. Macro and Micro Factors , 01 March.

Temple University Business Plan Essay Example

Temple University Business Plan Essay The Temple Consultants designed the Virtual Insurance Procurement Portal (IPP or PIP Portal) to align the brokerage model with evolving technology to address these pressing issues. The PIP Portal is an online resource planning tool that automates the overage procurement process, facilitates communications, increases transparency, and serves as a consolidated information source. The IPP will feature two separate, customizable interfaces for the broker and the client to suit each users needs. Figure 1: PEST Stable Social North American Insurance Industry 2012-present Political Demand increased transparency Non face-to-face communications Economic Industry consolidation Disintermediation through technology Technological Technological ubiquity and mobility Market Analysis In order to adapt to the political, economic, sociological, and technological rends affecting the insurance brokerage industry, brokers must redefine their current business model. The future brokerage model allows brokers to fully demonstrate the true value of their supplier, problem solver, innovator, and partner functions to clients. If clients only recognize the value of the brokers supplier function, industry competition will increasingly be based on price. Strategic changes must correspond to current insurance brokerage industry trends, which can be identified with a PEST framework (Figure 1). Political There are no new political trends affecting the insurance brokerage industry today. Despite the stable political environment, brokers must vigilantly ensure that all business practices uphold all federal and statutory regulations. The PIP Portal code will incorporate safety nets to ensure users do not violate any regulatory requirements. Industry consolidation and disintermediation through technology are the main economic trends affecting the insurance brokerage field today. Large brokerages expand and secure market share primarily by merging and acquiring smaller competitors. Increased consolidation is concentrating and intensifying industry rivalry. Disintermediation through technology is encouraging clients with simpler risk management needs to seek inferior broker substitutes. Most clients with simple risk management needs already find it hard justifying investments towards broker services and building relationships with brokers. We will write a custom essay sample on Temple University Business Plan specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Temple University Business Plan specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Temple University Business Plan specifically for you FOR ONLY $16.38 $13.9/page Hire Writer These economic trends are challenging the brokers role in the insurance procurement transaction. Social Entities spend less time socializing face-to-face and prefer to socialize through technology-enabled media. Customers and employees are becoming more accustomed to communicating through technology than through face-to-face tenting or over the phone. Brokers that do not embrace technology to facilitate the broker-client relationship risk being pushed out. Technology is continually affecting the way com pansies conduct operations. Businesses have already adapted significantly to align strategy with new technologies. As technology continues to evolve, companies need to further align strategy with the evolution of technology in order to remain competitive. 3 Our proposed brokerage model was developed to help brokers overcome the various competitive forces affecting the industry and challenging the brokers role as risk advisor. These forces are driven by the trends identified in the PEST evaluation and analyzed under a Porters Five Forces framework (Figure 2). Figure 2: Porters Five Forces Insurance Brokerage Industry Force industry Rivalry Intensity Very Strong Threat of Weak New Entrants Buyer Power Moderate to Strong Supplier Power Us busiest Explanation C] Leading industry competitors (201 3): Marsh, Non, Willis, and Arthur J. Gallagher C] Disintermediation through technology CLC Clients cannot perceive true value C] Threat of strong price competition 0 Low to moderate buyer switching costs CLC Response from powerful incumbents L] Relationship-driven industry C] Access to suppliers I. E. Arises C] Buyers need insurance and risk management solutions C] Small clients have simpler needs, but are price sensitive D Large clients need individualized solutions, and have high bargaining power C] Relationship-driven customer switching costs C] Difficulty realizing true value CLC Control policy form design C] Control premiums 0 Intense competition among carriers C] Direct marketing 0 Alternative Risk Solutions Industry Rivalry The United States insurance brokerage industry is highly competitive. Marsh, Non, Willis, and Arthur J. Gallagher are the strongest commercial brokerage competitors. The industry has undergone a long-standing trend of consolidation as larger brokerages acquire smaller competitors. Disintermediation is becoming increasingly apparent as more clients, 4 particularly those with simpler needs, are severing broker relationships and relying on technology to develop their own, cost-effective risk management programs. Though, clients recognize the value of the brokers supplier function, many clients fail to realize the true value of the brokers problem solver function. Because switching costs are relatively low, clients can easily rancher to another brokerage that clients believe is capable of providing them the best coverage at the best price. Brokers who fail to address the consolidation, disintermediation, and value non-recognition trends threatening the industry will succumb to pressures stemming from increased rivalry. New entrants pose little threat to the US brokerage industry. Though, it is relatively easy to start an insurance brokerage firm, new entrants face hostile responses from industry incumbents. To build a book of business, new entrants must convince potential clients to dissolve pre-existing broker-client relationships. To provide clients the right products at the right price, new entrants must also establish strong broker-carrier relationships. The chosen brokers relationship with carriers, will largely influence the clients risk management program. Built on trust, this relationship-driven industry has high entry barriers lessening the threat new entrants pose to established brokers. Buyers Commercial insurance brokers face moderate forces from large clients and strong forces from small clients. Small clients are those with simpler risk management needs and large clients generally have more complex portfolios. Large clients exert moderate buyer power on brokers because large clients cannot easily find substitutes to their brokers problem solver and partner functions. However, large clients have a higher switching costs compared to small clients 5 because it takes time to rebuild relationships, trust, and understanding with a new broker. Small clients exert strong buyer power on brokers because traditionally, small clients do not avail broker services and have a harder time realizing the true value brokers provide. Small clients can easily access inferior broker alternatives and are more price sensitive. However, buyers relinquish some power since all clients need a means of risk transfer. Buyer power is weakened when considering brokers can leverage relationships with carriers to provide clients with better coverage. The commercial brokerage industry is heavily relationship-driven, wherein most clients tend to remain loyal to their broker. The primary factor disrupting existing broker-client relationships is severe pressure for cost reduction. Overall, buyer power is increasing more clients fail to recognize the true value brokers provide and consider alternative solutions to manage risk. Suppliers Suppliers have considerable strength in the LOS brokerage industry. Insurance carriers largely derive power from control over capacity, policy design, and ability to accept or decline a risk. Without broker-carrier understanding brokers are incapable of adequately serving clients. Strong supplier power is also driven by intense competition among the carriers themselves. However, since carriers compete to ensure that their products are brokers first choice recommendation, supplier power slightly diminishes. Overall, suppliers exert great strength over the commercial brokerage industry. Insurance brokers face a weak to moderate level of threat from substitutes because generally clients are most comfortable entrusting experts with their risk management, consulting, and procurement needs. However, disintermediation through technology and increased 6 availability of alternative risk solutions are jeopardizing the brokers role. Currently, substitutes still pose little threat to the industry. If clients continue underestimate the true value brokers provide, the threat of substitutes will strengthen and exert increased competitive pressure on the commercial brokerage industry. The Virtual Insurance Procurement Portal Technology Integration The Virtual Insurance Procurement Portal (PIP Portal or IPP) is a resource planning system that automates the coverage procurement process, facilitates communication, and provides a cohesive, organized, center of information for enhanced client management. The portal will integrate seamlessly with Windows and MAC operating systems and will be available in standard, touch, and mobile options. Because the IPP tool is designed to enrich the borderline relationship, it must be portable and provide constant access to client-related material. Due to the highly sensitive nature of client information, the IPP will employ state-of-the-art security encryption to ensure account integrity is always protected. Interface The interface will have an intuitive, visually appealing, tiled interface. Each of the tiles is customize able and will provide quicklime to selected information such as policies, interaction logs, chat, conferencing, client preferences, loss history, and industry benchmarking data. The platform will leverage a licensing agreement with Google data analytics to provide superior search capability within client accounts. As an example, the broker will be able to err policy limits, and the portal will return, the per-occurrence and aggregate limits of each policy as well 7 as any deductibles and exclusions. In the event of a loss, the broker will be able to best assist the client regardless of either users location or time. Users can set preferences within each client profile, so they will receive industry- specific news from insurance publications such as Advised and Business Insurance. This will ensure clients are consistently up-to-date on the broad issues affecting clients. Brokers will be able to directly interface with the carriers through the portal or Reps, and carriers will be able to directly upload policy deliverables into the portal. The portal will be able to Scan and quickly return key information, such as rates and exclusions, to the brokers. From the clients perspective, the portal will also have an intuitive, tiled approach, and work similarly to the brokers version. However, certain information, such as internal procedures will be excluded from the clients view. With all marketing and Reps results stored in the application, this will eliminate the administrative burden of preparing transparencies, as made requisite by the 2004 Spirits investigate. Storage and Maintenance The PIP Portal will include 24/7 customer service to detect and repair bug issues, and will make use of site management to ensure that all applications are consistently fully operational. Data storage will be securely encrypted and will be outsourced by a cud storage firm. This platform will be downloaded online, and will not require any hardware or packaged software. The platform will integrate with legacy information and underwriting systems as well the Microsoft suite. This will allow for steady assimilation to the product and will enable brokers to employ the most optimal mix of resources. Financial Market Entry We propose that the IPP be developed in-house, by a large brokerage firm. Due to lack of proof of concept at this stage, it may be difficult to find venture capital. Evidence supporting proof of concept will come from beta testing. Following development, the brokerage firm will have ownership of the PIP Portal. Business Model Our estimates indicate that about $1 will be required to develop a functioning prototype. During beta testing, the brokerage will partner in capital formation, which will enable developers to bring the software to optimal functionality and ensure that the software is capable of large-scale use. The portal is designed to syntactically align with the broker process and become inextricable from placement and client-servicing processes. During the three year battening phase, market share will be low at approximately half a percent. This period will allow brokers, partner carriers, and clients to collaborate and ensure that the tool provides maximum utility and enhances the brokers value-proposition. Upon completion of the beta phase, the brokerage firm will garner significant competitive advantage through full integration of legacy systems in place. Benefits and Cost Savings From a cost and benefit perspective, PIP Portal will increase process efficiencies in placement and servicing drastically reduce transaction costs, add value, and increase clients willingness to pay. We believe that IPP will provide savings for the broker by reducing the 9 number of staff needed to properly service an account and providing tools to assist the client as effectively as possible. The IPP solution will reduce administrative costs, increase efficiency, and provide savings on transaction costs. This does not necessitate a direct monetary discount for clients, but it ill provide greater utility and competitive advantage by increasing value relative to premium paid. Further proof of concept will provide greater clarity on the amount Of savings and the increase in productivity that will result from implementation of the PIP Portal. Financial Analysis By interviewing Bill Mortar, an adjunct professor at Temple University and an IT professional with knowledge in software development, our team estimated development costs for the IPP. The portal will need to be developed in phases. We designed a four-phase implementation process with varying development time and costs. Phase is currently underway and primarily involves researching design functionality and capability. Phases II through IV will build proof of concept that the PIP Portal must establish prior to implementation. The table below shows a breakdown of the four phases and major tasks that must be achieved in each phase. Phase I (6 months) Setting the business requirements Functionality and navigation considerations Screen mock-ups Total Cost Phase I Cost $50,000 Phase II (6 months) Translating business requirements Database structure Detailed software design and documentation Total cost of Phase II 150,000 10 Phase Ill (12 months) Coding Portal testing Bug tracking Total Cost of Phase Ill $700,000 Phase IV (12 months) Beta version testing Further development Maintenance Considerations Total Cost of Phase IV $1 75,000 Estimated Total Time Estimated Total Cost 36 months The team estimated the total time for development and testing to be 36 months at a cost Of $1 We have estimated the amount of value the PIP Portal could provide to a brokerage firm by conducting a net present value (NIP) analysis. According to Hoovers, the insurance agency and brokerage industry in the United States cords approximately 100 billion in revenue annually, and is expected to experience medium growth over the next 1 2 to 24 months. We decided a 5% growth rate is a reasonable assumption based on Hoovers data. We used very conservative numbers to estimate the extent of additional market share a brokerage firm could capture after implementation. Our assumptions is that a firm could capture an extra . 5% of industry revenue in the first year after the three year beta phase and is adjusted up to 3% at year five.

Carteret County the Original Crystal Coast

Carteret County the Original Crystal Coast Carteret County is a coastal county that lies at the southeast point of North Carolina. The county is known for its historic sites and its local tourism and fishing industries. While many people visit this county each year few have fully explored its vast resources or any thing this county has to offer. Because of the amount of public accessible beaches few tourist venture inland to further gain insight about the historical values of this rich county. Waterways run through the county which historically provided transportation of goods and services inland. Now bridges and roads take role as the main transportation lines. Because this county is among the oldest in the state, county history dates back to 1722, when the currency was pounds and shillings. To further investigate the history of this county and understand the counties relevance several aspects will be discussed: geographic location, forest resources, major industries, historically important or interesting people, and the ori gin of the cultural make-up of this county.Locator Map of Carteret County, North Carolina, Un...Geographic LocationCarteret County is located directly on the east coast of N.C. and is surrounded mostly by water on the east and southern coast. The county is connected to Craven County to the North and Jones and Onslow to the West. The county is roughly 520 square miles of land and 820 square miles of water. Most of the soil on this land is split between several different types of sands and loams; this is so because much of the land is considered swampland or marshland. The general landscape is flat giving rise to the name “the coastal plain”. Many rivers flow up from the sounds and bays that surround half of this county, these played an important part in the development of this county which will be discussed in depth later. The main rivers are...

Capital One Essay Example | Topics and Well Written Essays - 1000 words

Capital One - Essay Example The external environment can be analyzed by using various tools like that of PEST analysis. The PEST analysis stands for Political factors, Economical factors, Social factors and Technological factors. The analysis of Capital One can be undermined as below: Political factors – The markets in which the company was operational did not have much political disturbances and therefore it could be said that the company experienced conducive political factors for its new strategy on acquisition. Economic factors – This was undoubtedly the most vital aspect for a company operating in the domain of financial services and products. The economic slowdown and the global meltdown really hampered the growth of the company. The financial performance of the company worsened on year – to – year basis even after following the strategy at an aggressive way. The faith of the general public upon the financial system was disturbed as one after the other too – big – to – fail companies became bankrupt. Social – Capital One had considerable social acceptance and that proved beneficial for the company to continue the business even in the trying times of financial slowdown. The company had taken number of efforts and initiatives that contributed towards the community development and corporate social responsibility and those have paved ways for the sustainable growth of the company. Technological factors – The company has been observed to be technologically sound and it was found that that Capital One offered best of the attributes based on the technological developments. It could be said that the research and development in the technological segment paid well as the environment is continuously changing. In spite of having an aggressive policy based upon acquisition, it could be said that Capital One Financial Corporation did not had a great year. Though the reasons were primarily external, like that of the global meltdown and economic slowdown, yet

The helpful of technology Essay Example | Topics and Well Written Essays - 1000 words

The helpful of technology - Essay Example It is apparent that  whatever we do in our daily lives we interact with technology. Our interactions with technology may be direct or indirect, but the fact of the matter remains that we are benefiting a lot from technology (Oak Web). Have you ever wondered what the world would be like without technology? Talk about the communication sector, transport sector - air transport or road transport or water transport, and the financial sector. We need technology to make all these sectors afloat. Our lives depend solely on these sectors, and without technology, we are not able to have a smooth life. Technology therefore, makes it easy for use to live. The transport sector has undergone a lot of technological advancements throughout the world. Since the invention of the wheel, the transport sector has made incredible transformations. Modernization of the rail transport, road transport and the transport has made it easy for people to transport all sorts of things across the planet. Travelling has been made fast and people take the shortest time possible to get to their destinations. Goods on the other hand, take the least time possible to reach their intended recipients across the continents. This means that people make huge economic gains. Entrepreneurs are able to make maximum profits from their daily business transactions that involve moving their goods from one place to the other (Oak Web). Africa for instance, is the biggest beneficiaries of technological advancements in the transport sector. Close to all African countries are developing economies and therefore, each of them is making large gains out of trading with the rest of the world. The presence of very reliable means of transport to these destinations is of greatest essence to them. Large scale farmers in Africa, especially the ones who are in the flower industry are able to make deliveries to

Spreadsheet project Essay Example for Free

Spreadsheet project Essay The user of my spreadsheet is a games company owner who needs to collect and distribute data to predict capital expense of wages for the future. They need to be able to see the expenses of their company and how, if the input into the spreadsheet is altered, the output is changed also. My spreadsheet is a model that simulates the real thing. As a company owner, the user should be able to record the various categories of income and expense and decide their course of action depending on how the store is doing on the spreadsheet. It should allow the user to make comparisons of profit/loss for that particular week, month or year. However, I will be going through this product as though I were the user and make references to the actual user of real life at appropriate times. I will be presenting the worksheets over a time span of a month so as not to make it too complex to understand. The product is aimed at the soul user of the system, which will be the storeowner. The name of my company is called Nintendo Universe. My company designs computer games for a number of consoles that we build. We sell accessories along with toys and magazines. We are basically a wholesaler selling our components to other big businesses. Our main headquarters is in California, America. We have a second headquarter in Tokyo, Japan. We have various factories and warehouses that produce and store these products and export them to big businesses on request. I have a total of 480 employees, out of which 100 are employed for the headquarters. Two hundred staff members are in the two production factories. The rest of my staff works in the various warehouses. I am the sole owner of the company. As this is a large trading enterprise, I have chosen to have a board of directors who are assigned various shared responsibilities and they own percentages of share in the company. As the executive director I overlook at all aspects of the business and with the help of my associate directors we try to promote sale, reduce loss, supervise the role of our employees and ensure that the company is run smoothly. Therefore they have a rotating system that will benefit and make our employees job easier. They are currently doing very well financially and may soon have to expand my business. This will in effect mean more vacancies and hopefully in the long run more profit. The problem is that Nintendo have been using manual methods such as using pen and paper and storing staffs information in cabinets. Therefore I will be creating a new and improved method of storing information better than their previous manual methods. With the current system the company is unable to do this because it is impractical and will take a lot of time just to find out the results for one small criteria but with the new system answers to many criteria changes can be found instantly. The companys current situation will have to be taken into account, this will be achieved through an interview with the people concerned after which the advantages and disadvantages must be studied. Each cell in a spreadsheet has its own address. For instance the intersection with column D with row 4 will give a cell with the address D4. (As shown above) Spreadsheet grids are frequently very large and only a small section of the sheet can be viewed on the screen at any one time. One sheet can be linked to another, so that as data is changed in one sheet, the other sheet is automatically brought up to date. The Formulas entered in a spreadsheet can refer to absolute data (fixed data) e. g. the price of a can drink is fixed at any time or relative data e. g. the time taken to drink 1 can will vary from time to time. Spreadsheets also have Macros, which are a set of commands recorded by the computer, which then can be replayed whenever the user wishes. These are particularly useful for tasks that will over and over again. Excel (Spreadsheet program) is able to use database features such as querying this is called filtering. This is something, which only sophisticated spreadsheets have. Why you need to use a spreadsheet: A spreadsheet is a powerful tool for experimenting with different mathematical models and asking What if! It can calculate totals and averages in a matter of few seconds whereas a manual system will take longer and is more likely to carry a higher percentage of human error. A spreadsheet also has the ability of formatting and displaying the results in different ways. It also comes with a library of formulae and functions as part of the program. The formulaes assist us in financial calculations, handling dates and times, for mathematical and statistical work and for logical expressions (e.  g. the SUM function and IF statement). Recalculation in a spreadsheet can be set manually or automatically which is not possibly if we were to do this by a manual system. What spreadsheet offers the business? : Spreadsheets will offer the business a lot because it will be much easier and reliable than manual methods. Features such as being able to copy formulas, change data without redoing formulas or losing original figures, produce graphs and copy into other packages are just some reasons as to why my business will benefit from the use of spreadsheet programs. These programs will also be a great benefit to me personally seeing as I deal with the finances I will be able to do calculations much quicker than using manual methods i. e. calculators. I could also receive and give stock orders between the branches more easily by linking with the other branches via Internet or another networking system. Finally spreadsheets are a more accurate representation of real life unlike manual methods. This in affect means being able to view the data in forms of currency, weight, distance etc and also being able t print out this information for reference. Access: If you are going to run an organization like the one in hand then a database program will not be very help towards your purposes because it does not have the ability/function to work out in depth, sophisticated, long calculations which you the user will need to work out calculations e. g. wages, overtime, working hours, profits/losses. It is also hard to access and very complicated to use. However it does provide an easy access to every particular thing under any field. The table is accurate and neat and already created for you to use. It also prevents from time consuming in every area. Access is used for storing, sorting and being able to easily retrieve certain types of data, this type of software is used for compiling information on customers, items etc. and being able to track, change and even rearrange the data. Why not to use a Database: A database is a collection of related data items, which are linked and structured so that the data can be accessed. It is designed to hold information and extract the relevant information very quickly. This program is not fully designed to carry out calculations, which a spreadsheet can perform. Therefore both programs are highly specific in the type of jobs they are designed to do. Desktop publishing: This is used for designing templates and presentations, using colour, clipart, and photographs. In this application a mixture of word/writing and pictures or designs are used. This type of software is used mainly to layout newspapers or magazines and other presentations, it is also in use to design web pages.