The Analysis And Application Of The Balance Sheet

Financial accounting is one of the most popular major in the world. In the study of accounting, people must know and use expertly the three accounting statement, balance sheets, cash flow, and income statement. It is the most basic and useful skill in one’s career of accounting. But in the four basic financial statement, the balance sheet or called statement of financial position is the only one which describe a single point in time of a business’ calendar year.â€Å"In financial accounting, a balance sheet or statement of financial position is a summary of the financial balances of a sole proprietorship, a business partnership, a corporation or other business organization, such as an LLC or an LLP. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year. A balance sheet is often described as a snapshot of a company's financial condition. †(Williams,Jan R,ibid,2008)Therefore, this essay will force on the ba lance sheet, it can help student understand the balance sheet better.A standard company balance sheet has divide into three parts: assets, liabilities and ownership equity. â€Å"The main categories of assets are usually listed first, and typically in order of liquidity. †(Daniels, Mortimer ,1980) â€Å"Assets are followed by the liabilities. The difference between the assets and the liabilities is known as equity or the net assets or the net worth or capital of the company and according to the accounting equation, net worth must equal assets minus liabilities.†[Williams, Jan R,2008]†Another way to look at the same equation is that assets equals liabilities plus owner's equity. Looking at the equation in this way shows how assets were financed: either by borrowing money (liability) or by using the owner's money (owner's equity). Balance sheets are usually presented with assets in one section and liabilities and net worth in the other section with the two sections â€Å"balancing†. A business operating entirely in cash can measure its profits by withdrawing the entire bank balance at the end of the period, plus any cash in hand.However, many businesses are not paid immediately; they build up inventories of goods and they acquire buildings and equipment. In other words: businesses have assets and so they cannot, even if they want to, immediately turn these into cash at the end of each period. Often, these businesses owe money to suppliers and to tax authorities, and the proprietors do not withdraw all their original capital and profits at the end of each period. In other words businesses also have liabilities.†[wikipedia, balance sheet]A balance sheet summarizes an organization or individual's assets, equity and liabilities at a specific point in time. We have two forms of balance sheet. They are the report form and the account form. Individuals and small businesses tend to have simple balance sheets. [the original, 07,15,2007] L arger businesses tend to have more complex balance sheets, and these are presented in the organization's annual report. [Microsoft Corporation balance sheet, June 30, 2004] Large businesses also may prepare balance sheets for segments of their businesses.[Global Financing]A balance sheet is often presented alongside one for a different point in time (typically the previous year) for comparison. [Balance sheet comparing two year-end balance sheets] â€Å"A personal balance sheet lists current assets such as cash in checking accounts and savings accounts, long-term assets such as common stock and real estate, current liabilities such as loan debt and mortgage debt due, or overdue, long-term liabilities such as mortgage and other loan debt.Securities and real estate values are listed at market value rather than at historical cost or cost basis. Personal net worth is the difference between an individual's total assets and total liabilities. †[Personal balance sheet structure] â⠂¬Å"A small business balance sheet lists current assets such as cash, accounts receivable, and inventory, fixed assets such as land, buildings, and equipment, intangible assets such as patents, and liabilities such as accounts payable, accrued expenses, and long-term debt.Contingent liabilities such as warranties are noted in the footnotes to the balance sheet. The small business's equity is the difference between total assets and total liabilities. †[Small Business Administration] There are anther type of balance sheet is US small business balance sheet. It is a small business balance sheet lists current assets such as cash, accounts receivable, and inventory, fixed assets such as land, buildings, and equipment, intangible assets such as patents, and liabilities such as accounts payable, accrued expenses, and long-term debt.Contingent liabilities such as warranties are noted in the footnotes to the balance sheet. The small business's equity is the difference between total ass ets and total liabilities. Guidelines for balance sheets of public business entities are given by the International Accounting Standards Board and numerous country-specific organizations/companys. â€Å"Balance sheet account names and usage depend on the organization's country and the type of organization. Government organizations do not generally follow standards established for individuals or businesses.†[Personal balance] If applicable to the business, summary values for the following items should be included in the balance sheet:[16] Assets are all the things the business owns, this will include property, tools, cars,Current assets,Cash and cash equivalents, Accounts receivable,Inventories,Prepaid expensesfor future services that will be used within a year,Non-current assets (Fixed assets),Investment property, such as real estate held for investment purposes,Intangible assets,Financial assets (excluding investments accounted for using the equity method, accounts receivabl es, and cash and cash equivalents), Investmentsaccounted for using the equity method, Biological assets, which are living plants or animals.Bearer biological assets are plants or animals which bear agricultural produce for harvest, such as apple trees grown to produce apples and sheep raised to produce wool. [Epstein, Barry J. ; Eva K. Jermakowicz ,2007] the liabilities is include: Accounts payable, Provisionsfor warranties or court decisions,Financial liabilities (excluding provisions and accounts payable), such as promissory notes and corporate bonds,Liabilities and assets for current tax,Deferred taxliabilities and deferred tax assets,Unearned revenue for services paid for by customers but not yet provided. Further more The net assets shown by the balance sheet equals the third part of the balance sheet, which is known as the shareholders' equity.It comprises:Issued capital and reserves attributable to equity holders of the parent company (controlling interest), Non-controlling i nterestin equity. Formally, shareholders' equity is part of the company's liabilities: they are funds â€Å"owing† to shareholders (after payment of all other liabilities); usually, however, â€Å"liabilities† is used in the more restrictive sense of liabilities excluding shareholders' equity. The balance of assets and liabilities (including shareholders' equity) is not a coincidence. Records of the values of each account in the balance sheet are maintained using a system of accounting known as double-entry bookkeeping. In this sense, shareholders' equity by construction must equal assets minus liabilities, and are a residual.Regarding the items in equity section, the following disclosures are required: Numbers of shares authorized, issued and fully paid, and issued but not fully paid, Par valueof shares, Reconciliation of shares outstanding at the beginning and the end of the period, Description of rights, preferences, and restrictions of shares, Treasury shares, incl uding shares held by subsidiaries and associates, Shares reserved for issuance under options and contracts, A description of the nature and purpose of each reserve within owners' equity The last part in this essay will introduce Balance sheet substantiation. ‘Balance Sheet Substantiation is the accounting process conducted by businesses on a regular basis to confirm that the balances held in the primary accounting system of record (e. g. SAP, Oracle, other ERP system's General Ledger) are reconciled (in balance with) with the balance and transaction records held in the same or supporting sub-systems.Balance Sheet Substantiation includes multiple processes including reconciliation (at a transactional or at a balance level) of the account, a process of review of the reconciliation and any pertinent supporting documentation and a formal certification (sign-off) of the account in a predetermined form driven by corporate policy. Balance Sheet Substantiation is an important process that is typically carried out on a monthly, quarterly and year-end basis. The results help to drive the regulatory balance sheet reporting obligations of the organization. Historically, Balance Sheet Substantiation has been a wholly manual process, driven by spreadsheets, email and manual monitoring and reporting.In recent years software solutions have been developed to bring a level of process automation, standardization and enhanced control to the Balance Sheet Substantiation or account certification process. These solutions are suitable for organizations with a high volume of accounts and/or personnel involved in the Balance Sheet Substantiation process and can be used to drive efficiencies, improve transparency and help to reduce risk. Balance Sheet Substantiation is a key control process in the SOX 404 top-down risk assessment. ’[University of Victoria (Canada) balance sheet accounts] To sum up, it can be seen that the balance sheet have a lot of point, it worth to resea rch, to think deeply. The balance sheet is the first step of your accounting career, it also is the skill which will follow you whole accounting career.

Anthropology sociology Essay

Culture as defined by anthropologist Tylor; â€Å"is that complex whole which includes the knowledge, belief, art, morals, law, customs, and any other capabilities and habits acquired by man as a member of society. † Greenblatt recognizes this definition as vague and more of a gesture towards other more specific cultures such as : â€Å"youth culture† or â€Å"human culture†. He makes his most definitive statement about culture when defining what it does not refer to- materials. Panegyric and satirical writing are both involved with the â€Å"praise and blame† of literature. Panegyric takes on the â€Å"praise† by positively reinforcing societal structures. Whereas, satire plays the â€Å"blame† card working towards pointing out the faux pas of society. Cultivation is â€Å"the internalization and practice of a code of manners†. â€Å"Exchange† is the means in which mobility is achieved. It is the borrowing of plots and adaptations from other literary works; that aren’t necessarily a part of the writers culture. Exchange is the transmission of other cultures. Exchange reaches beyond the social â€Å"constraints† of society. Culture is created through this â€Å"praise and blame† system that takes place both inside the text and also in society. Which works of literature are glorified and held up by a society? And which works of literature are looked down upon by society? Great artists are agents of mobility. Riding this in between zone of â€Å"praise and blame† — they represent the â€Å"and† the possibility of improvisations amongst a particular society. Literature in this sense is both a byproduct of culture but also literature aids in creating the social restraints of a culture. These two concepts constantly reinforce each other in a circular way– making both the mobility and the constraints of culture a possibility. This idea of mobility and constraints also bring to mind the author’s intention. It seems to me that the author will inherently represent culture in his/her writing because that is what is known– that would be the part that wasn’t intended, the constraints of society. However, I think cultural exchange and mobility would have to of been intended by the author–the ideal vision of what they think the world should be like.

American Political Thoughts Essay Example | Topics and Well Written Essays - 2500 words

American Political Thoughts - Essay Example It is imperative that both the great depression that occurred in 1930s and the late 2000s great recession completely draws the difference between American presidents especially Franklin Roosevelt, George Bush and Barack Obama. The two economic crises caused banking-financial crisis, great surge in unemployment, and severe stock market slump. It is imperious to understand that in all the cases, both the presidents pledged to eliminate the economic crises and provide a state of calm within America. The paper explores how the how the three presidents managed to retain economic crisis during their era. In addition, the paper analyses significant similarities and differences in the policies employed by each administration in maintaining economic levels. The great depression remained as the historic economic crisis in western industrialized countries that started from 1929 and ended in 1940. The depression remained as the longest economic crises in American history marked by significant decline in investment, rising levels of unemployment, and decrease in living standards of American people. The great economic downtown resulted from Wall Street cash crash and the great drought that affected agricultural activities on the south (Skocpol and Jacobs 15). The great depression started during President Hoover era and proceed during Franklin Roosevelt presidency. During the start of great depression in 1929, American people blamed President Herbert Hoover for his policies that may have resulted into economic down town. When Franklin D. Roosevelt (FDR) won the 1932 presidential elections, he began the longest journey of recovering the depressed economy. Roosevelt immediately assured American people of the possibility of economic recovery and then initiated the New Deal policies aimed at normalizing the depression. Franklin D Roosevelt became the president of United States in 1932 and succeeded Herbert Hoover. The beginning of his

Teaching and learning strategies integration Research Paper

Teaching and learning strategies integration - Research Paper Example These strategies are classified under two categories: (1) Activity Based Strategies and (2) Cooperative Based Strategies. Furthermore, the last few sections of the paper will give an overview of the different learning style theories discussed by Jonnassen & Gabrowski (1993). This research hopes to gather information that will be instrumental for curriculum design and lesson delivery at USASMA. Field Trips/ Staff rides. One of the methods used to develop leadership among military officers involves visiting a historical site and applying the theoretical understanding of the technical lessons in class. The process is able to link a historical event, preliminary studies and actual terrain so students can construct battle analysis. â€Å"Revisiting battlefields in a thoughtful and structured way helps connect today’s officers to military history† (Stofft, 1998, p. 16). Prior to the trip, participants are given all the necessary information through lectures and classroom discussions. This is the preliminary study phase. In the field study phase, the participants relive what took place by following the course of action based on what they have learned. At certain points, selected individuals may be asked to play out some roles. The last phase is the integration phase where the facilitator contextualizes the battlefield at the present day issues and problems. Everyday, at least one staff ride is taking place signifying its importance as a teaching technique. Staff rides place the participants in the shoes of the decision makers in the past so they learn from historical data and use it as a guide for future reference. It is also considered as a legitimate preparatory training experience in national defense. Commanders who have undergone staff ride trainings reiterate the value of military history â€Å"in supplementing current doctrinal, operational, and technical

Resume Assignment Example | Topics and Well Written Essays - 750 words

Resume - Assignment Example Employed as a full time cashier from the opening of the store at its present location. Responsible for interaction with customers, high volume cash handling and worked in conjunction with the other Lead Cashier. Total of 9 cashiers that would report to not only myself but also the other Lead Cashier with any issues that may have arisen. Duties primarily involved customer service provided to individuals that entered into the store each day. Expected to answer any questions that may have arisen. Retrieved shopping carts from the parking lot each day. By 2003, upgraded to part time cashier as primary duties. Expected to handle high volume sales, customer inquiries and other details as dictated by Manager/Asst. Manager on duty. Attended local high school between 1998 & 2002. Final GPA earned was a 3.56. While in school, took part in extracurricular activities such as: Track & Field, Yearbook, as well as Cross Country & Drama Club. Attached you will find a copy of my resume, for the Lead Cashier position currently available in the Wal Mart store #6582. With the background experience that I have amassed while employed at such companies as Target, Bed Bath & Beyond, Toys ‘R Us & Kmart, I am confident that those skills will fit within the requirements in place for the position that you are currently seeking to

Extended Annotated Bibliography Essay Example | Topics and Well Written Essays - 1000 words

Extended Annotated Bibliography - Essay Example Whorf’s idea was more that some speakers have power over others and by extension power over the world, to shape the world with their words. This type of thinking makes people very uncomfortable because they would like to believe that political correctness and the fact that all humans are the same down deep is reality. Whorf himself did not set out to create a controversy in linguistics. He simply followed ideas to see where they would end up. Cameron asserts that Whorf did not set out to create controversy and may not even have held some of the ideas he is given credit for. Kodish explains that human speakers are in an eternal loop of creating language, changing reality, creating language, changing reality and so on. Reality and language are intertwined, and neither directly creates the other but they co-create perception. In a group of people, the same objective reality will be perceived differently by each individual because of the language system he or she speaks. This type of relativism is important because it also shapes how humans think about things; in other words, learning a new (foreign) word for an object or concept only barely changes our perception of the object or concept. An example that Kodish cites is the Eskimo words for snow controversy; Whorf actually wrote that the Eskimos have three words for snow, not dozens, but because of this expanded language capability they thought about snow differently from European-Americans. Linguistic relativity simply means that humans understand what we do about the world because we have words to descr ibe those things. Kodish also discusses linguistic determinism, which is the prevailing theory currently; determinism says that the biological base of language determines its eventual structure. Kodish asserts that neither Sapir nor Whorf ever put forth what is now known as the Sapir-Whorf hypothesis. Lucy has created a thoroughly detailed discussion of the literature

LOVE. Review the NHS changes proposed in the Health and Social Care Essay

LOVE. Review the NHS changes proposed in the Health and Social Care Bill now proceeding through Parliament and evaluate how these reforms are to address the problems with the Service - Essay Example The reduction of inequalities in the provision of health and social care is highlighted as one of the focus areas for the secretary of state under the new Bill (Dow 2011, p13). In addition, the Bill proposes that the provision of comprehensive health services which include various aspects of health care including mental and physical through proper diagnosis, prevention, and treatment. This aspect proposes that quality of services in the health sector is raised to meet the standards set for continuous improvement in the health sector. The Bill proposes that the level of public contribution to health and social care service provision is increased (Crisp n.d., p4). Public proposals for development of the services provided are to be highlighted and considered by the NHS Commissioning Board in decisions affecting health care services. The Board will be mandated with establishing of various platforms to involve the public in the identification of the needs of the specific needs and approaches needed for improvement. Establishment of the Public Health England will be the focus of the improvement of public health care provision. The roles of the Local Authorities and commissioners of health in the provision of health and social care services are expected to be integrated under the Bill. In view of the need to provide a coordinated service, the government will eliminate unnecessary costs of duplication and offer the benefits of synergies. It is important that scrutiny of the services offered of such diverse service providers is introduced in the improvement proposed by the Bill since accountability issues derail quality service (ACKA Consulting 2008, p1). The Bill undertakes to offer regulatory authority for the various types of health and social care practitioners as required in a functional system. It is important that the professionals involved in the health care and social sector be regulated for conformity with quality and improvement as

Marketing Audit Report for MAC COSMETICS Essay Example | Topics and Well Written Essays - 3000 words

Marketing Audit Report for MAC COSMETICS - Essay Example The essay "Marketing Audit Report for MAC COSMETICS" discusses the marketing report for Mac Cosmetics to analyze the various operational aspects that are involved in ensuring the company competes. Marketing can be defined as the achievement of corporate goals through ensuring the operations meet and exceed customers’ needs better than the competition. Marketing for different products provided by different companies within the same industry is conducted with the aim of beating the competitors through the market share and achieving high profits for the organization. The development of a strategic marketing plan is essential in ensuring that the products of the company are able to compete effectively in the market. Competitive markets require organizations operating within the industry to adopt intensive marketing strategies to ensure that they compete effectively within the market. The mission statement of an organization can be defined as a brief statement that defines the purpose of establishing the business while identifying the reasons behind the existence of the company. The mission statement for the company seeks to provide products which fit individuals of different demographic states. Within the mission statement of the company, it states clearly the goals which the company seeks to achieve and the responsibilities of the company to the customers. The mission statement is important to the company because it establishes the direction of the company in terms of defining the goals and targets.

James Fennimore Cooper’s The Last of the Mohicans Essay Example for Free

James Fennimore Cooper’s The Last of the Mohicans Essay In James Fennimore Cooper’s The Last of the Mohicans (1992), we witnessed death, integrity, pride, love, violence and revenge portrayed through the struggle over a piece of land between the French and English in a war that took place sometime in 1757. Not only that, since the novel was written in the early 1990’s, when women’s liberation and â€Å"girl power† are the predominant themes, the author also incorporated a different form of struggle between the main characters in the novel.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   I will focus on the character of Alice and Cora, the two heroines in the story and will attempt to make a comparison of the two characters in light of the commonly-accepted views on what a woman should be.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Alice and Cora Munro, as portrayed in the novel, are sisters who embarked on a journey to visit their father. Their journey, as can be expected is doomed from the beginning and is fraught with violence, revenge, conflict and emotional drama. In the novel, Cora, the older sister was depicted as a strong-willed woman who has no qualms in making her own decisions. Alice, the younger sister, is on the other hand, took the role of a fragile, weak-hearted woman who is always in need of rescuing and assistance.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   It is apparent from the start that this difference in personality will probably result in conflict between the two sisters. It is surprising though that there was no remarkable conflict as between the two sisters in the novel. In fact, it is their stark differences of personalities which kept these two sisters together. Cora, the ever reliable and brave older sister is always looking out for the welfare of her younger sister. Alice, depicting the traditional notion of femininity, graciously lets her sister and their escorts do their task of protecting her.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   It is also worth stressing that the personality differences between Cora and Alice extends to their physical appearance. Cora is a brunette and has a strong feature while Alice is blond-haired thereby accentuating even more her frail physical features. It seems that Cooper had in mind the traditional, stereotypical notion of weak-blond-strong-brunette syndrome when he came up with his set of heroine characters.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Interestingly enough, the heroines in the novel find themselves in a complex entanglement of emotions and feelings. As can be expected, the strong-willed Cora falls for reckless Uncas while Alice, the sentimental heroine, on the other hand, captures the heart of the perfect gentleman, Major Heyward.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In sum, although Alice and Cora were portrayed as having opposite personalities and physical attributes in the novel, it also cannot be denied that in more ways than one, they are also alike. Both are loving daughters whose main purpose from the onset of the journey, is to reunite with their father. Alice and Cora while seemingly in contrast in personalities also share the same attributes inherent in all women which is the ability to love and show intense feelings toward the opposite sex. The brunette-blond contrast is not really an issue here and it is not uncommon for sisters, especially half-sisters to be totally different in physical features.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   I think that James Fennimore Cooper, in coming up with the character of Alice and Cora, simply wanted to impress on his readers the two types of women and how these differences can be reconciled and co-exist in a given situation. Furthermore, in a contemporary period, women are seen as possessing diverse traits and personalities akin to Cora and Alice. The stereotyping of blonds and brunettes unfortunately has not been obliterated although, with the advent of women’s liberation, it is difficult nowadays to categorize women into two limited persona such as that of Alice and Cora. Bibliography: Cooper, James Fennimore. The Last of the Mohicans. Bantam Classics, 1826. Ebert, Roger. The Last of the Mohicans. Chicago Sun-Times 25 Sept. 25, 1992. Kempley, Rita. The Last of the Mohicans. The Washington Post. 25 Sept. 25, 1992. â€Å"The Last of the Mohicans: Summaries and Commentaries.† 8 July 2008 http://education.yahoo.com/homework_help/cliffsnotes/the_last_of_the_mohicans/56.html.

Make It Mine - Customization as the Future of Luxury Essay Example for Free

Make It Mine Customization as the Future of Luxury Essay 1 â€Å"The things at Prada today are not well made, the fabrics are not as good, everything was much better in my time† Miuccia Prada I. Purpose of Research The changing landscape of the luxury industry challenges brands to find a new approach to reach out to their core costumers. Brands like Louis Vuitton, Gucci or Burberry are about to jeopardize their true customers and their image by overexposing themselves to a mass luxury clientele. Thus, a new approach must be found to bring back the feeling of true luxury, personal attention and to create a bond to their core customers. This paper’s purpose is to examine how luxury brands can adapt mass customization techniques in order to create a sustainable competitive advantage and bring back the notion of true luxury. Furthermore, it will be questioned if customization can harm a luxury brands image and status, taking into consideration the â€Å"anti-laws† of marketing, which propose to not pander to the customer’s wishes and to dominate the luxury client (Kapferer, Bastien, 2009, 64 f. ). The goal is to come up with a conclusion that provides luxury brands with a direction of how customization could be implemented and what benefits or challenges may come with it. II. From Class to Mass Looking at today’s luxury fashion market one does not have to be an expert like Miuccia Prada to see things have changed. While almost every established luxury brand started out as a small business with a tradition of unique craftsmanship, utmost quality, best service and limited quantities, those attributes are not necessarily true for many of today’s still existing luxury brands. Luxury brands have gone mass. This is often referred to as â€Å"the democratization of luxury†, which means 2 that luxury brands have opened themselves for a mass market. While back in the day luxury brands were the domain of the rich only available in selected stores or brand owned boutiques, brands today want to reach a wider customer range. According to Thomas, aggressive growth was not a priority until the eighties (Thomas, 2007, 238). However, growth quickly became the main objective and store expansions have experienced a boom in Japan, as well as the USA. The middle market customer was born. By expanding their assortment lines in department stores with lower-priced items, such as perfumes, small leather goods and cold-weather items, luxury brands became attainable. No longer were people intimidated to walk into a luxury boutique, they often became tourist attractions in capital cities. Luxury brands were intrigued by the sudden success. It just took a few logo-covered products, which were the middle class’s favorite item and sales and profits grew steadily. However, the rapid expansion also created one of the luxury brands biggest problems today. As banking analysts conclude, the greatest problem that luxury brands have created for themselves by going mass is financial instability. â€Å"Before its global expansion to the middle market, luxury was immune to economic cycles. The companies were small and catered to a limited old-money clientele [†¦] who shopped consistently and bought well. Luxury was a successful niche business. But when luxury changed its target audience to the cost-conscious middle market that shops when flush but stops cold when times get tough, it made itself dangerously vulnerable to recessions† (Thomas, 2007, 264). Another disadvantage from overexposing themselves is the loss of the traditional old money clientele, since their logos could be seen everywhere. Many brands jeopardized their exclusivity status along with their â€Å"well-crafted† message along the chase for higher profits, in order to keep the shareholders happy. The dilution of the luxury status peaked with the 3 introduction of e-commerce and outlet stores. In the first case it is very hard for a brand to create a luxury shopping experience, since the Internet is a generic and impersonal sales channel. In the case of outlet stores, brands are trying to sell their overstock, which has highly increased due to mass production. Not only is merchandise that was once available at a high-end boutique sold for a discount price, moreover some brands are producing some items solely for outlets (Edouard, 2006, 11). Assessing the six main facets of a luxury brand, which have been identified in a broad empirical study by Dubois/Laurent/Czellar and are considered to be global and most accurate, one can review the situation of the luxury market today. The six main facets are (Dubois/Laurent/Czellar, 2001, 8 ff. ): †¢ Very High Price (according to the absolute price (inter-categorical) as well as the price relative to other brands of the same category (intracategorical)). Excellent Quality (according to the processed materials as well as the assumed diligence of the manufacturing-process). Scarcity Uniqueness (expressed by a difficult accessibility and rarity). Aesthetics Polysensuality (creating through design, colors etc. a value experience that touches all senses). Ancestral Heritage Personal History (continuous branding in design, communications etc. ). Superfluousness (dominant perception of symbolic attributes †¢ †¢ †¢ †¢ †¢ compared to technical-functional ones). It is evident that at least two of the six facets, namely Excellent Quality and Scarcity and Uniqueness, are not fulfilled in many cases anymore. Industry experts suggest that the last true luxury brands that are living up to all the standards are Hermes and 4 Chanel (Thomas, 2007, 323). Hermes is the epitomization of luxury, which is highly due to the fact that the house is still making all its products by hand, sourcing the finest materials and using special design and production techniques that have been invented from the house’s founder over 150 years ago. However, there is another reason why Hermes is on top of other luxury brands: Customization. Unlike in most luxury boutiques, Hermes only receives a few handbags each season to sell them directly. However, this is the exception. The rule is that those handbags are just a display of options. The customer can choose the material (canvas, cowhide, reptile or ostrich), the color and the hardware and in case of the Kelly bag the seams (Thomas, 2007, 172). And then you wait for a product that is specifically tailored to your taste and needs. Obviously this is an experience that real customers highly value. The next chapter provides a brief overview about the luxury consumers today and examines the need to offer separate services for each customer type. III. The Luxury customer today â€Å"Today’s luxury consumer is different from the wealthy consumer of the past. † (Okonkwo, 2007, 65) As mentioned above, many luxury brands opened themselves for the middle-class customer. Silverstein and Fiske have extensively described the evolution and habits of these consumers in their book â€Å"Trading up† (2005). Amongst those â€Å"mass wealthy† consumers, the spending on luxury goods has increased tremendously due to a rise in real household income by 30 percent since 1970. Looking at the figures, four million American households had a net worth of more than $1 million by 2005 and the average spending increased up to 70% (Thomas, 2007, 239). Parallel to this the credit card debt reached its peak. What happened to all that money? Consumers 5 traded up and luxury brands catered to their new audience. While the old-money consumer had a deep appreciation for quality and craftsmanship, the new luxury consumer wanted to buy into the dream and show that they could. Logos came in fashion, and soon â€Å"It† bags with the brand’s logo plastered on them could be seen everywhere and on everyone. Interesting enough brands and designers seem to embrace this trend, as Marc Jacobs states: â€Å"When you look at Louis Vuitton, you see it is mass-produced luxury. Vuitton is a status symbol. It’s not about hiding the logo. It’s being about a bit of a show-off† (Thomas, 2007, 18). Although welcomed by the brands themselves, this is a development that does not please a lot of the old luxury consumers and luxury brands are about to jeopardize their core clientele. Besides the love for the logo there are other characteristics that come along with the new luxury consumers. These are a need for a quick trend turnaround, a disposable attitude and the experimenting and mixing of luxury brands with premium and fast fashion (Okonkwo, 2007, 66). Thus, these consumers are not loyal to one single brand but shop across the entire brand hierarchy, from Gucci to HM. And they are not recession proof. While in the past luxury catered to a limited old money clientele enough money whose spending habits have not been deeply affected by economic cycles, short-term stock market drops or the dependency of credit available, the new luxury customer is very sensitive to all those factors. The luxury market as we experience it today is an amalgam of mass production1, flashy branding, highly varying quality and heavy advertising. While this might work for the middle class market, educated, real luxury consumers cannot be captioned by such techniques. 1 E. g. all Gucci leather products are designed on a computer, by 2004 the entire Gucci group produced 3,5 million leather goods a year, with a production time of two to three hours for a basic bag. Louis Vuitton’s handbags are produced in an assembly line setting in China, where it takes two minutes to glue handles on two bags. As a comparison, an average size Birkin or Kelly bag takes up to sixteen hours, while a bigger one takes up to thirty hours (Thomas, 2007) (Purseleague, 2010). 6 This paper acknowledges the importance of these new customers for luxury brands in order to keep the shareholders satisfied and the need for luxury brands to grow and make profits. If brands would stop cater to this clientele, the losses would be tremendous, since the brands made themselves dependent on high volume sales. However, it must also be considered that such practices can and will jeopardize the old luxury consumers, the ones who support the brand even in tough economic times. Thus, this paper suggests an approach to return to older notions of luxury, namely superb quality, classic design, premium service and customization. In short, the ultimate luxury experience. IV. Back to the roots â€Å"Luxury fashion brands today are too available, everything is too uniform, and customer business is too pedestrian. † Tom Ford Looking back in the history of luxury, customization has been the starting point for many brands and has always played a vital role in the brand’s identity. Hermes started out as custom-made harness shop, catering only to the aristocracy. Likewise Gucci, which started as a saddlery shop in Florence and later specialized in small custom made leather goods and luggage, while Louis Vuitton started as a Malletier for French Royals. All had in common that made-to-order items were the focus of their businesses and they offered only a small product range. Another big part of the customization history of luxury and probably the embodiment of the ultimate luxury item is the haute couture dress. Fittings were done by the couturiers themselves and the garment was constructed for one’s own shape, height and comfort. When American society ladies could not make it to Paris, the Couture houses would sell their patterns to stores like Saks or I. Magnin and fittings were done in beautiful 7 private fitting rooms to convey the Paris atmosphere. Shopping in those department stores was an experience, an event, a pleasure and sales assistants were experts, advisors and friends. Customers chose their favorites, either at in-house fashion shows or during personal viewings, and an in-house seamstress would alter everything to make the customer happy and fit the garment perfectly. This was a long time ago. As Thomas, points out, luxury clothing shopping today is more an exercise of patience, with only a few pieces in the smallest sizes on the sales floor, mediocre service and long waiting times (Thomas, 2007, 5). Buying an $8000 dress directly from the rack is a relatively new phenomenon, evolving with the availability and democratization of luxury. Reviewing the history of customization in the luxury industry, the following points can be identified that cater to a true luxury experience: Craftsmanship, high quality material, luxury service and customization. Based on these findings, the following part of the paper will develop a framework of customization for luxury brands today. It should be emphasized that the approach of customization is not catering to the luxury mass clientele, but rather to the true luxury customer, to create brand loyalty and recreate the luxury experience in the current market setting. V. Customization in Today’s Luxury Market One’s striving for uniqueness and expressing their individuality has without a doubt reached a peak in the current society. Some businesses have recognized this development and reacted accordingly, such as Dell, Apple, Levis, BMW or even Ralph Lauren. Especially luxury consumers always had the need to feel the exclusivity attribute of a service or a product and require personal attention. Luxury customers today do not want to follow a dictate by a brand, they are independent in 8 their choices and want to be involved in the creative process. As one author correctly stated, the days of uniformity and sameness are over (Okonkwo, 2007, 249). While Okonkwo is advocating a â€Å"mass customization† approach, which means that customization for luxury brands is done in bulk and offered to everyone, this paper suggests an exclusive approach of customization. Although economies of scale still play a role with the exclusive approach, it is not promoted to produce customized products en masse. This again would take way from the notion of rarity and exclusivity and would not help luxury brands to recreate a luxury experience, which is the purpose of this paper. It must be mentioned that a few luxury brands currently offer customization as they call it, however this is not customization to a degree that satisfies a true luxury customer. Louis Vuitton for example offers a â€Å"customization/personalization† service on its website, where customers can choose different colors for stripes and their initials to be drawn on a brown canvas bag. The whole process is done online, which delivers no luxury atmosphere at all and the aesthetics are not living up to a luxury brand and neither the leather, nor the hardware or lining can be altered. â€Å"Real customization† is only available for travel pieces. According to Gilmore and Pine, two customization experts, there are four different approaches for customization and managers should evaluate each to offer best service to their customers. In some cases not every approach is possible. The following part of the paper examines each approach and the possibilities for a luxury brand to utilize it (Gilmore/Pine, 2000, 116). 9 1. Collaborative Customization In this approach a company is conducting a dialogue with customers, so that they can articulate their preferences and needs. The goal is to identify a precise offering in order to satisfy these needs and offer a tailored product. 2 2. Adaptive customization In this case a standard product is offered, that the customers can customize themselves after the purchase. An example would be a watch where one can change the wristbands, such as the Gucci â€Å"U-Play Interchangeable Lizard Watch†. Fig. 1 Gucci â€Å"U-Play Interchangeable Lizard Watch† 3. Cosmetic Customization 2 [†¦] on an Air France flight from Paris to London Jane Birkin pulled her Hermes datebook out of her bag and all her papers fell out. She groused about how the book needed a pocket. Besides her sat Jean-Louis Damas. He took her datebook and she got it back a few weeks later with a pocket stitched inside, which is still there today (Thomas, 2007, 189). 10 Cosmetic Customization is not about the product itself but more about the packaging, the advertisement of different attributes or benefits of the product. Thus, a standard product is packaged and presented differently for certain markets. This can become especially important a retail environment where customized packaging plays a big role. Personalization, like adding the customer’s name would be an example for a cosmetic customization. 4. Transparent Customization This approach is used when customers do not directly communicate their needs, but they are easily predictable or can be easily deduced. Customers are provided with goods or services tailored for them, without letting them know that they have been customized for them. This type of customization requires constant monitoring and a deep understanding of the customers needs. It challenges brands to come up with innovative methods of data collecting. Fig. 2 The Four Approaches to Customization 11 Besides the different approaches of customization it must be mentioned that customization can be applied throughout the value chain, but it implies a company open for innovative approaches and careful management. Customized? Development? Customized? Production? Customized? Retailing? Customized? Delivery? Fig. 3 Possible Value Chain of a Luxury Brand Since it would exceed the scope of this paper to discuss every possible customization process that could be applied by a luxury brand, the following part outlines a scenario of customizing a luxury handbag for exclusive customers, taking every step in the value chain into account. In the development stage of the product, the customer would make an appointment in a luxury boutique, or be offered to have a designated expert of the brand come by a place of the customer’s choice. It must be mentioned that customization should only take place in selected brand-owned boutiques, such as flagship stores and never on the internet or a non luxury shopping mall (e. g. Lenox). In the case of an instore appointment, there should be a private room or section that is solely reserved for customization customers, including catering of exquisite snacks and drinks to enhance the luxury atmosphere. Unlike customization that is offered online, the customer should actually have all the materials that she can choose from in front of her, so she can feel and smell the different kinds of leather, fabrics, linings, hardware etc. As mentioned above, polysensuality is an integral part of a luxury brand, thus all senses should be addressed. The brand should provide multiple options to choose from of materials, shapes and sizes. However, if a customer has a special wish, e. g. 12 a color that is not available in the presented selection or a special lining wish, the brand should be able to provide it. On top of that personalization should be offered. Customers should be able to have their name, a quote, writing etc. on the bag at every place they want it. Anya Hindmarch for example offers customers the opportunity to write a personal message in their own handwriting that is discreetly embossed on the handbag in silver or gold, prices range from $1300 $9. 500 (Okonkwo, 2007, 262). Unfortunately, this service is only offered online, thus customers can’t feel the materials and have definitely no luxury experience. When the customization process is finished, the brand should have special software to show the customer on a big screen a model of what the creation will look like, so that last changes can be made. The design must be sent to an atelier, preferably in the country of the brand’s origin, where skilled craftsman are working on the items. Each bag must be identified with a number, the craftsman who worked on it and the material it was made from. Naturally a customized piece has a longer delivery time, for a handbag approximately 6-16 weeks, depending on availability of materials etc. However, since a customized item is considered an investment piece, customers are willing to have a longer waiting time. After the item has arrived in the store, cosmetic customization can be made at the point of retail by the sales assistant. In case of a bag or travel item e. g. the brand could attach a charm or a customized name nametag in the bag’s color to surprise the customer and show special attention. The packaging of the customized item can also be tailored towards the taste of the customer (the in-store customization expert should be aware of customer’s preferences or be able to find out during the design process, referred to as transparent customization). Along with the customized item the customer should 13 receive a letter from the store manager, which addresses the customer directly and shows the brand’s appreciation. Having a personal delivery service that brings the item directly to the customer can customize the last part of the value chain. To create the ultimate luxury experience the brand could additionally send flowers, truffles or wine to show appreciation for the customer. The process of customization outlined above is not limited to bags and can be applied to almost every item, shoes, jewelry, travel items etc. Obviously customization is a laborious process, thus the question arises which advantages does it have for brand have and is all the effort worth it? The basic question â€Å"Do customized products bring additional value to the customer† was widely discussed in academic literature. The findings of the latest study by Franke, Keinz and Steger suggest that the higher the customer involvement with a product is, the more value customization adds (Franke, Keinz, Steger, 2009, 115). Assuming that a luxury product already requires a high consumer involvement, due to its high price and the â€Å"dream value†, it can be concluded that customized luxury goods are adding value to the customer’s purchase. Amongst all advantages the most important one is the closer contact and relationship to your core customers, and a personal identification with the brand. The customer serves as a co-designer and in-house consultant during the customization process. The brand can learn about their customers’ taste and tap into their intellectual property, which results in higher potential of future design success. Empowerment of the customer leads to a higher customer satisfaction, which results in repeated purchases, less comparative shopping and overall brand loyalty (Okonkwo, 2007, 252). Especially in a globalized luxury landscape brands can satisfy customers in different parts of the world and react to cultural taste differences. As a conclusion it can be said, that â€Å"benefits of 14 customization are contingent on characteristics of the customer, namely his or her level of insight into own preferences, ability to express those preferences, and product involvement† (Franke, Keinz, Steger, 116). Although the advantages overweigh, it must be noted that customization also imposes challenges on a brand, such as the integration of the customization process into already existing internal processes and the value chain. Operations must be changed, functional units for customization must be established and the brand must invest in human capital, in order to have experts on both the retail and manufacturing side. Many companies will have difficulties overcoming current practices, since most luxury brands are now owned by big conglomerates, where they face a wall of bureaucracy. Besides that the collection of personal data from customers is a highly sensitive area of customization. First, data collection and analysis are not a core competence of luxury brands and many companies just started to use special software. Thus, problems could arise organizing and interpreting the gathered information. Second, although it can help a lot with future shopping assistance and marketing, luxury brands should never store personal data without the explicit permission of the customers. VI. Marketing in an Age of Diversity It is a given that an exclusive offer like customization needs an exclusive marketing approach. Therefore, all common marketing practices, such as fashion magazine advertisement, blogs, online marketing etc. are not an option. Since this customization is a costly service, the right clientele must be targeted. Thus, this paper suggests three marketing approaches to reach the luxury core customer. The 15 first strategy is to approach luxury magazines that are not directly fashion related. The selected magazines would include, but are not limited to: †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ FT- How to spend it Town and Country Palm Beach Illustrated3 Architectural Digest Robb Report Unique Homes Luxury Living Dolce Vita Elite Traveler Prestige Instead of placing bold ads in these magazines, the marketing strategy should focus on creating interest by subtle advertisement. This could include product placement in an editorial spread that has nothing to do with fashion, e. g. a bag could be placed on a designer table in Architectural Digest. Placing the product in a special section like â€Å"most exclusive picks of the month† would be another form of subtle advertisement. If the relations to a magazine are very good, the brand could have the magazine featuring a story about most exclusive luxury items and place the customization service in there. It is crucial that prices or places where the customization service is offered will not be communicated. The magazine should only provide a phone number that connects the customer to the customization department of the brand, where all information will be available. Furthermore â€Å"price upon request† is an effective tool to create interest and the notion that a product is in a top price range and only available for a few clients. 3 Palm Beach Illustrated Magazine is an award-winning regional luxury lifestyle magazine, appealing to the worlds most sophisticated and ultra-affluent audience. The magazines content reflects the many facets of sophistication that set the Palm Beach market apart and gives the community its unique brand of panache. Focusing on cutting-edge fashion, the social and philanthropic scenes, the celebrities and fascinating personalities, the exquisite estates and interiors, as well as the luxurious retail and travel opportunities available in this unique region. 16 The second marketing strategy would be an exclusive catalogue, in which the brand introduces its new service to selected clients. That this service is not available to the broad public must be clearly communicated. Naturally the catalogue must be printed on high quality paper and must feature only very creative pictures from one of the world’s best fashion photographer, such as Andrea Klarin, Raya or Steven Meisel. The catalogue should inform the customers about the customization process, as well as provide examples of customized bags. Since luxury customers today have strong values and principles, the catalogue should include where products such as leather and silk are sourced as well as the place of production. The catalogues would be sent to already existing top customers, whose addresses the luxury brand should have in their data storage. Magazines such as Prestige, which only have subscribers over a certain net worth (starting at $2 Mio. ) could provide additional addresses of future customers. The catalogue must convey a luxury feeling through materials and aesthetics, so it does become a decorative book more than a disposable item. The last part of the marketing strategy would be an invitation only event that can be held in the best hotels of strategically important cities. With approximately 150-200 guests, the brand would exclusively introduce the customization service to their most important clients and high-society people of the city in a glamorous atmosphere. The brand could show a video about their history and heritage, leading the consumer back in the days when customization was the starting point of the brand. Exquisite catering and entertainment must be a part of the event, as well as a small fashion show that shows the brand’s latest collection with some of the customized items. The brand should have a customization expert on site, so if guests have questions about the service there is a person helping them directly. 17 VII. Financial Analysis The attached excel sheet outline a one-year cash flow plan for setting up the customization service in a first tier city flagship store. The $500. 000 start capital are sponsored by corporate. Travel expenses include travels to other flagship stores, the manufacturing site or to customers, who are out of town. As mentioned before, customized products do not impose any inventory costs on the stores. It is assumed that corporate takes over most advertising costs, however stores must support local advertisement, which can be seen in the expenses. Income taxes are assumed to be 25 percent of the sales, based on the information that in the US income taxes range from 10-35 percent. The sales figures are derived from the following price points of merchandise: Between $9. 000 and $85. 000 for a customized bag, $800 $5000 for customized shoes and $15. 000 100. 000 for customized travel items. Prices depend on leather, hardware, other materials such as lining and complexity of production. The high price points are set deliberately, to keep away non-enthusiast and protect the exclusivity of the service. The predicted sales figures are more conservative at the introduction phase of the customization service but pick up by the end of the 12 months, leaving the store with a profit of $648,700. 000 at the end of the year. December is supposed to have the highest sales figures, due to holiday business. VIII. Conclusion: Does Customization Take Away a Brand’s Authority? One reason why many brands are reluctant to change their current practices when it comes to customization is their fear of losing brand authority. As Okonkwo put it correctly, it is argued that if brands provide their customers with the tools to customize their products, they might lose their superiority appeal (Okonkwo, 2007, 248). Marketing guru Kapferer advises luxury brands to â€Å"Not pander to their 18 customers’ wishes† and to â€Å"Dominate the client† (Kapferere/Bastien, 2009, 64 f. ). However, looking at the roots of most luxury brands, with customization as their starting point, this advice seems to be outdated and ignorant to the trends in current society. Due to the latest development in the luxury markets, which have extensively explained above in chapter II- IV, denying customization to the customer seems to be narrow-minded and can seriously damage the brand on the long run. Since customization as discussed in this paper is not a means to please the masses, but to gain back the true luxury consumer who seeks an exclusive experience, the argument that the brand loses its superiority status is not applicable. The purpose of research was to examine if luxury brands could use customization in order to win back core customers and regain a luxury status. It can be concluded that with the right marketing approaches as well as with a management that is open for innovation, customization can be a great tool to optimize customer satisfaction and add value at every part of the value chain. If customization is executed correctly, it can change the luxury landscape to a situation where not only Hermes, but other brands with a long tradition of craftsmanship can be considered true luxury again. 19 References M. Edouard (2006), Revamping Luxury: Mass Customization Applied to the Luxury Goods Market. MBA Thesis, Massachusetts Institute of Technology. N. Franke, P. Keinz, C. J. Steger (2009), Testing the Value of Customization: When Do Customers Really Prefer Products Tailored to Their Preferences? , Journal of Marketing Vol. 73 (Sept. 2009),103-121. J. Holusha (1996), Making the Shoe Fit, Perfectly; Companies Use Technology to Sell to a Market of One, The New York Times. J. N. Kapferer, V. Bastien (2009), The Luxury Strategy – Break the Rules of Marketing to Build Luxury Brands. London: Kogan Page. P. Zipkin (2001), The Limits of Mass Customization, MIT Sloan Management Review, Spring2001, Vol. 42 Issue 3, p81, 7p.

Back Ground of the Company Xerox

Back Ground of the Company Xerox Haloed Corporation was renamed in 1961 as XEROX. Photocopier was their main product which was introduced in 1959.Xerox was the only company in the market providing photocopier. The company monopolized the market as the only seller of photocopier and this monopoly was well protected by patents. The logical result of this monopoly was the over confidence of the company. They made their own standards and trusted heavily on them. Joint ventures were the method adopted by XEROX to hit the international market. In 1959 RANK XEROX was registered and was assigned a target to hit the market European and African market. In 1962 FUJI XEROX worked in the domain of FAR EAST and ASIAN PACIFIC. Average and high level market was the target of XEROX and had nothing to do with low level market. Competition Monopoly complaint against XEROX was filed by the Federal Trade Commission in 1973. In 1975 XEROX took away its patents. Many other companies jumped in and between1971 and 1980 about 147 companies got hold of the market. The result was obvious and XEROX lost about50%of the market share. Middle and high level market was captured by IBM and Eastman Kodak . New technology was introduced by these companies and took a   good share of the market from XEROX. The low level market was captured by Japanese firms. The products for the low level market were not in the domain of XEROX and that is why it could not compete the Japanese companies. The Japanese then came into the middle and high level industry. Their product was favored because it was easy to use and preserve. Diversification In 1969, Xerox assumed technological information system also called scientific data system. With the help of scientific data system, Xerox developed mainframe computers. They afterward traded it off in 1975 at loss of 1.4 billion. In 1970 the company bought disables system; it developed daisy wheel printer and computer memories. Xerox merged memory writer, a company which was producing typewriters. This   was   a successful deal, as the company was able to capture 20% of the typewriter market. The Xerox developed its own research center which designed a new electronic printing technology. This also a lot the company to hold majority of the market purchasing foster in 1983, and then acquiring van Kampen market, company got good position in the market. Xerox in the 1950 Peter McCullough wanted to implement quality circle activity in the company which he observed during his stay in Japan. A team was sent to Japan to study the activity in 1978, the team also Study General Motors and the other US manufactures. The result of the study was the involvement of the employees in the company would be fruitful in future. To implement the decision of involvement of employees in company. Dr. Harold J. Tragash was hired in 1979. The 30% of the work force was given training in 1980.the employees were divided into 100 groups. These groups participated into the fairs of company and the result were as listed: Cost reduction. Employee satisfaction. Improvement in product quality. In 1982, David Keans become the CEO of the company, he placed off employees and quitted 2100 employees by 1983, Business effectiveness in 1980, Dwight F. Ryan was made the dead of business effectiveness department. He was given the following tasks: Improve productivity Reduce cost Improve customer satisfaction. The policy of the involvement of the employees in the affairs of the company became the first step towards the business effectiveness. Company structure was changed in Ju8ly 1981 abd the business was made into strategic Business unitys. Business system department was handed over to Dwight F.Ryan. fifty Top managers along with David Kean held a meeting in September 1981.which was ended to strong suggestion s to implement business effectiveness with force on employee involvement and competitive benchmarking. Keans, Rechired and Teagash worked very hard on three goals i.e. increase in productivity cost, effectiveness and customer orientation. Fuji Xerox Fuji Xerox was facing new competition in the world market in 1970. Japan being the leader in business activity, posed though competition for Fuji Xerox which h had base in Japan. The solution came in 1976 in the shape of â€Å" the New Xerox Movement â€Å". Demining award for quality was awarded to Fuji Xerox in 198. This was the result of this new movement. David Kearns visited Japan to find out the causes of winning the   award . He studied deeply the Fuji Xerox model. In 1982 Targash Richard d and their staff worked o a business strategy effectiveness for Xerox. Theyir study was based upon the Fuji Xerox model.   They had a number of meeting with David Kearns and finely on July 1980, a new strategy called â€Å"Pursuit og Execellence†was put   forward by the team.the team consisted of Senior managers which worked hard to form   new stretgy adnn method of its implementation .In 1982 David Nadler and Delta consulting groups was hired to follow the Fuji Xerox model. Blue Book (a management-Change) In1983, Kearns held a meeting with cooperate management committee and operating units heads about Blue Book. Twenty five executives gave their opinion about Blue Book. The wuality experts Phil Crosly and W. Edwards were also invited to speak at   the meeting. The main objective of the blue book were: Quality improvement, by doing things right and doing them well. To improve long term business success. Quality determined by customers. Provide training by all levels. To make the senior managers as role models. A system of employee quality reward system to be set up. Leadership throughQuality: Quality strategy became the responsibility of 25 executives to whom David Kearns held a meeting in February in 1983.he explain the meaning of Quality as doing things right the first time.The blue book was not presented as finished product ,instead it was used for briefing product and discussion. The exective of Xerox were divided into two parts. One worked for communication and the other worked for reward and recognition. The outcome of these groups were as follow: The concept of â€Å"Leadership through quality† was introduced. The idea of Xerox quality was given. Quality ws defined as meeting customer existing and their requirements in future. Improving quality means understanding and working to satisfy the customers requirements. Kearns emphasized on Quality as well as on keeping eye on the challenges going around in other industries. He was the opinion that is was the time to change the culture and timae to introduced the quality culture at Xerox . In august 1983, the system for Xerox was changed to insure quality. Cooperate Quality Office On March 29, 1983, cooperate quality office started functioning. Fred. B. Henderson became vice president for quality. He was also elected as cooperate office by the board of directors. Henderson emphasized on employee involvement, competitive benchmarking and leadership through quality. According to John Kelsch quality award business strategy are closely related. A change in quality would be a change in strategy. Quality strategy is more useful than product strategy. Quality implantation team was selected which was working in cooperate quality office. Each business group was given representation in the office. Nine erecutive were from the field and six executives were from the cooperate office including Tragash and Richard.Each member was named as vice president for quality and had to report its departmental head. In April 1983 a six a six month strategy was implanted by QIT. The member had their concern over its implantation. Firstly would it work and secondly will the company stick to the changes. There was another very important concern and that was about timeframe. There were of the view that it would change the culture and than larger period of time will be required for adjustment. And other sections of member were of the opinion that too much work is required for this applications and the original task will be showed. After the formation of quality implementation team (QIT),the quality training task force was made. The range of work set for QIT was to implement the change and quality training task force (QITF) would provide training to the employees. The member of QIT will share ideas, get input from the parent department.adn establish the home office stake in process. In 1983 the team produce second blue book for implementation at the end of the meeting, they had a strategic plan in their hand and was named as green book. The green book gave stress in quality strategy, and short term programs which produce long term leadership. The goals of green book were as follow: Setting goals which are yet to achieve. There must be a strategy for quality and implement. The working method. The green book was consisted on 92 pages its range of study was consisted of 92 pages. Its range of study was the cost of quality, outline for quality implement process problem solving process and tool for served strategically problems. It gave the idea that competitive bench marking is the key tool for several statistical problems. it gave the idea that competitive bench marking is   the key tool for evaluating Xerox. This green book was implanted from 1983 to 1987. The most important and positive aspect of this whole exercise was the training. Each training was given a problem they would have to solve them. The training was given from top to bottom. Managers were trained first and then they participated in the training of their subordinates this training was named as cascade. Changes and Opportunities Occurred In 40 Years Strength in the Past: In the beginning, Xerox enjoyed pure monopoly; there was no competitor in the market. The product of company was well protected by patents. This pure monopoly gave the following benefits to the Xerox. There was no price pressure from the competitors. It could fix and alter the price according to its own will. The company could increase their price by decreasing its production. There was no risk of over production. Other company completely controlled the market. During first fifteen years the main products were Xerox 914, the first plane paper Xerox 813, the first desktop plain paper and first photocopier. By 1965, company revenues crossed $500 million. In 1975, Xerox was forced by the federal trade communication to license its copies to other manufactures. Xerox monopolized the upper level market for a long time and during this period; the company extended its product line. Strength Today: The strength of the company lays the following facts: It had a good brand name image. The company was the pioneer in its filed. Good quality products, best technologies and good services gave a stronger out look to the company. Even Japanese companies did not enjoy such a strong image. The slogan of total satisfaction guarantee according to which instead of monetary refund the products are replaced, became a reason for its bigger image. The company had excellent quality management team. Employees participation in operational decisions made a very strong image of the company in local and international market. The people working in the organization are proactive in nature then re active. The employee participation in the affair of company to find out the demands of customers. Weakness in the past The company got over confident because of the monopoly enjoyed by it for a long time. The company started taking things causally. For Example â€Å"the receipt provided to purchaser had only product code on it rather than the product name. The purchaser would not know if he caught what he asked for. Internal competition was another weakness in the past. There was a competition among the employees which badly affected the organization effectiveness. And knowledge management practices. The other result of this internal competition were the isolation of the information, lose of employees, breaks in the organizational flow charts and corporate disloyalty. Another weakness of the company was that it was not targeting the low level market. Xerox only targeted higher market. Xerox could have increased its profits if they would have targeted low markets. With the arrival of new competition, Xerox tried to improve its quality. It failed to do so because of its scattered efforts. There was a lack of collective efforts. Weakness Today The following are the weaknesses of Xerox Corporation: Total quality management implementation resulted in high over head costs. Financial position of Xerox is not very good. 100% quality concept created a negative competitive position for Xerox. As customers are not ready to pay for exceptional quality and services. Fixed asset turn over as increase in recent years. But the total asset turnover ratio has decreased. It is because of the reason that the company has increased its inventory requirements by its product replacement concepts. Leverage ratios are increased where as profitability ratios are decreased.   Opportunities in The Past Since Xerox enjoyed monopoly in its products therefore the whole world was its market. The company availed its opportunities and targeted the different regions of the world. This goal was achieved by joint ventures with other companies, the details of which furnished below: Xerox got into joint venture with a British company named as Rank Organization in 1959. The joint venture came in the market with the name Rank Xerox. The target of this company was to manufacture and market Xerox equipment in Europe, Africa and Asia. Modi Xerox (Xerox India) was a joint venture between Rank Xerox and Modi group in India and its rang was Indian subcontinent. Fuji Xerox was established in 1962. Which was a joint venture of Rank Xerox and the Japanese photography firm Fuji Photo Film Co. They aimed Far East and Asia Pacific region for the xerographic and document related products and services in these regions. Opportunities Today Following may be the opportunities of Xerox Corporation: Diversification into more product lines. Expansion into more production foreign market. By diversifying into more product lines and by finding new potation markets such as Europe and South East Asia, the company can increase its business and establish its credibility in the international market. Threats in the Past There was no self benchmark in the company and it heavily relied own internal benchmark. There are positive points in internal benchmarking as it is cost effective. It is easy to gain access to all the information required. The negative aspect of the internal benchmarking is that we cannot get information about the competitors and the other outside parties. Internal benchmark may not be adequate to face the external pressure. Keeping in mind the drawbacks it is better to use external benchmarking. External benchmarking is a useful way of studying of performance measured taken by successful organizations with in the same industries or the different industry and learning for them. It is also useful for studying the various systems and processes. The idea that benchmarking is done against in the company in the same industry is a miss concept.   Monopoly case was registered to Federal Trade Commission in 1973 and as a result of this Xerox had to take away its patents in 1975. Monopoly was changed into monopolistic competition in the market which was a great threat to the company. Between 1971 and 1978, 77 different plain paper copiers came into the market and between 1978 to 1980, 70 more companies listed their mark in the market. This shattered the shares of the company which dropped from 100 % to 50 %. After the removal of monopoly of Xerox, many Japanese companies entered in photocopy business. And targeted the low level markets. Xerox could not compete as it had no product to offer the low level market. Japanese after getting the good position in the lower market, started to move toward the mid and upper level markets. Their products were better, easy to use, easy t maintain and more efficient. It was a big blow to Xerox.

Roosevelt Teddy :: Essays Papers

Roosevelt Teddy He first tried the law profession by enrolling in Columbia University. He did not enjoy it and soon left school. He published his first book in 1882 it was entitled â€Å"The Naval War of 1812†. He had begun work on it while still at Harvard. Then Teddy decided that he would try a career in politics. His first position was on the state assembly in the state of New York. He ran as a republican and won the position easily. At this position he did two major things: first he exposed a corrupt judge and secondly he learned to work with men from both parties. Instead of going for a second term of legislature he decided that he would go to the Republican National Convention in Chicago. He went as the chairman for the New York delegation. While Roosevelt’s professional life was flourishing his personal life was not in very good shape. In 1884 both his wife and mother died. His wife died while giving birth to their daughter, Alice. Roosevelt would take a break from politics and form the Elkhorn ranch on the Little Missouri River in the Dakota Territory. On his ranch he led the life of a cowboy. He would round up cattle and ride horses all day. It was a good break for Roosevelt. One story tells of Roosevelt capturing three thieves and holding them at gun point for 6 days until they reached the proper authorities. Also during this time Roosevelt wrote 2 more books (Hunting Trips of a Ranch Man and Thomas Hart Benton) and fell in love with Edith Kermit Carow. On December 2, 1886 Roosevelt and Carow went to London to be married. When they returned to the United States Roosevelt set his mind back on politics. He was very active in the presidential campaign of 1888 when Benjamin Harrison defeated Grover Cleveland. Roosevelt believed in hiring government workers on their skills not based on their party affiliation. At the time the winner of the race would hire every one that had helped them win the race even if they were not qualified for the position. Harrison would award his efforts by appointing him the U.S. Civil Services Commissioner. As commissioner he would continue to challenge â€Å"patronage†. He did such a good job that when Cleveland beat Harrison for reelection he kept him as Civil Services Commissioner. In 1895 Roosevelt would return to New York City to

Lord of the Flies: Is There Hope for Man? :: Lord of the Flies Essays

One of the main themes in William Golding's 1954 novel Lord of the Flies is that without civilization, there is no law and order. The expression of Golding's unorthodox and complex views are embodied in the many varied characters in the novel. One of Golding's unorthodox views is that only one aspect of the modern world keeps people from reverting back to savagery and that is society. Golding shows the extreme situations of what could possibly happen in a society composed of people taken from a structured society then put into a structureless society in the blink of an eye. First there is a need for order until the people on the island realize that there are no rules to dictate their lives and take Daveers into their own hands. Golding is also a master of contrasting characterization. This can be seen in the conflicts between the characters of Jack, the savage; Simon, the savior; and Piggy, the one with all the ideas. Arguably, the most savage person on the island is Jack Merridew. The first image of Jack and his group is presented as "something dark" and a "creature" before Golding goes on to explain "the creature was a party of boys." Ironically, that is exactly what happens. The beast turns out to be the evil within the children themselves. Jack conflicts with most of the other major characters from the beginning. He calls Piggy "Fatty" repeatedly and opposes Jack almost every step of the way. As the novel progresses, Jack becomes more domineering and assertive, slowly losing all of his former morals and civility. The one point in the novel where this happens is when Jack paints his face: "He made one cheek and one eye socket white. . ." Then Jack proceeds to cover the other half of his face in red, foreshadowing his perpetual recruiting and takeover of the island. Jack ends up as the other authority figure on the island by force and by exploiting the other boys need for savagery. The need for savagery arises because of Golding's views of humans as being vicious by nature. Jack, being a leader in his own right, can not see the light of day again once he has seen the darkness of self indulgence and absolute power. Simon, on the other hand, is not wild at all and can easily differentiate the light from the darkness.

Performance Management Plan Essay

In order for Landslide Limousine Service to have success in their business, strategic performance is necessary within the framework of management. The business should be successful if the performance management plan aligns completely with the business strategy. Mr. Stonefield has identified the course in which he plans to take his business and has identified his expectations. To help the company define the skills needed by its workers it must have a strong organizational philosophy as well as a strong job analysis. It is important for Landslide Limousine Service to establish a method of identifying and measuring employees skills, skill gaps, and establishing ways to provide feedback to its employees. Atwood & Allen Consulting will be administering and providing this vital information for the success and performance enhancement of Landslide Limousine Service. The performance management plan will ensure business success with no lost revenue, and income stability, and within target. Framework for business strategy In prior communications with Atwood and Allen, Mr. Stonefield identified he wished to open his limousine service in Austin, Texas. The main goal for Mr. Stonefield is to provide first class transportation options for various customers by providing a unique limousine service with attention to every detail in its service. There is an anticipated net revenue for the first year of $50,000, and is expected to have a 5% increase in net revenue within the next few years. There is also an estimation of a 10% turnover rate. According to Atwood & Allen, the short term and long term goals are very realistic for the first few years. By creating the performance management framework, Landslide Limousine Service will establish a base in which the company will align its goals in creating employee loyalty, and setting the financial growth of the company. The structure of the business strategy must consist of effective employee skills, methods to measure skills performance, concentrate on skills gaps, and effective employee feedback. This will create proper communication between employees and management. Creating an environment where employees are comfortable approaching management with concerns can reduce mistakes which could result in customer being dissatisfied with the limousine service. Lastly, communication can also assist with identifying and correcting any problems with equipment which  could reduce cost and will maximize the customers experience. Organizational Performance Philosophy In order to establish a strong strategic performance management framework, Landslide Limousine Service needs to identify the organizational performance philosophy. In order to compete within the existing competitive market in Austin, Texas, the business philosophy has to be built with a strong emphasis on excellent customer service. To build a positive reputation in the market, employees must look professional, and comply with all the rules and regulation to insure the customer experiences a safe ride. The organizational performance philosophy is the company’s values about how management is going to direct employees to accomplish goal to succeed the organizational performance. â€Å"Transporting clients efficiently and safe is our satisfaction† is a possible philosophy phrase that Landslide Limousine can use as a marketing strategy. The idea of the philosophy is to build trust within employees and customers within the company to retain loyalty and confidence within the service. Once the customers trust has been obtained, Landslide Limousine Service must continue to work hard to maintain the trust. Creating monthly surveys can assist with identifying areas were the organization can improve. In addition, the sales representatives should have meetings with the clients at least every quarter (if not sooner) to build a relationship with clients. This relationship can help with better aligning the services provided with customers expectations. Identifying employee’s skills It is important for any business to employ personnel with the required job skills. These skills are important because it reduces the amount of training required to get the employee ready for service. The employees knowledge and skills can guarantee customer satisfaction and positive reputation for the company. According to the textbook, Managing Human Resources, 9th edition, by W.F. Cascio, explains four levels of analysis to determine training needs and what can be achieved. The four levels of training are organizational analysis, demographic analysis, operations analysis, and individual analysis (Cascio, 2013, p. 317-318). The organizational analysis identifies if the training supports company’s direction, personnel training activity, and  resources available. Demographic analysis determines employee’s special need at different hierarchy levels. Operations analysis identify what an employees should do to perform competently, and individual analysis focus on the type of training should be provided to a specific individual (Cascio, 2013). According to Cascio, with a job analysis the business can identify tasks and required characteristics to perform a job (Cascio, 2013). The four levels of training is a helpful tool to identify areas of improvement. Training at all levels is important because though training we improve our overall performance. Methods to measure the employee’s skills For any business is important to measure employee skill performance to determine if the employees targets have been accomplished. According to, Employee Performance Measurement Tools, it explain how a company can measure performance with performance appraisals, productivity tests, and 360-Degree Feedback. The performance appraisal is an annual method on where the employee is evaluated by management. The evaluation identifies how well the employee is doing for a period of time and if action in required for improvement. In the performance appraisal, identifying future goals and needs are important to insure the employee understands what is expected of him or her. Productivity test can help measure employee performance in quantifiable terms. During the performance evaluation, management will determine if the employee will receive a raise and notify the employee what the raise increase will be and how they determined the raise amount. The amount of the raise has a direct correlation on the final scores of the performance evaluation. While employed at United Parcel Service (UPS), my employer used the performance evaluation and it was a great tool. Not only did this evaluation identify areas of improvements but it also allowed me to have a one to one meeting with my direct supervisor. Our meetings over lunch, allowed me to get to know my supervisor on a more personal level. The overall experience in my opinion was great because it energized me. My supervisor communicated how important I was to the organization and how my contributions affected the overall performance of the organization. Process for identifying skill gaps An analysis to address skill gaps is important at any employee level. The  analysis identifies the responsibility, knowledge, and skills required for a specific job. If an employee is currently performing a job but changes are made to the job description, addressing the gaps will be to identify any characteristic missed to train the employee or improve the process. It is common to find skills gaps when an employee change jobs or lacks of education and training to perform their job. According to How to Develop a Skill Gap Analysis, provides four steps to develop a skill gap analysis: identify business goals, collect data, understand data to make recommendations, and develop a training plan to address skills gaps in the current environment. It is crucial to identify business goals to remain competitive and create a project plan with the strategic objectives. The collected data can help identify skills and knowledge of every employee performing a role in the company. After data is collected, recommendations can be made to improve areas, such as communication, leadership, teamwork, sales, service, and project management. The training plan to address skills gaps in the organization can help determine appropriate and effective training to retain employees to retention and business performance. Identifying skill gaps within employees can also be useful in determining which supervisor is needed in that area. For example, if an employee is weak in a particular area transferring a strong and knowledgeable supervisor might assist the employee with better understanding his job function. Effective performance feedback It is very important to deliver effective performance feedback with positive attitude. Employees appreciate advice and positive coaching to help improve mistakes. According to How to Deliver Effective Performance Appraisals, the author explain different steps for effective performance appraisals: establish an appraisal method, effective eye contact, start with negative feedback end with positive suggestions, set new goals, have an open dialogue with the employee, explain if the employee is a candidate for promotion or raise. The first step is important because the method is selected to provide effective feedback. Two examples are the 360-degree feedback appraisal and self-evaluation for employees to share thoughts and ideas. At the interview, it is crucial to maintain good eye contact to develop trust from both sides and show respect. Body language is important because it can  show attitude or negative feedback. It is important to start with negative feedback to end with positive observations and set realistic goals for the next time period. In addition, it’s important for management to focus on the employee and his related job and not combine personal feelings or emotions into the feedback. During the feedback is important to have open dialogues to allow the employees to share his or her opinions and ideas. It is important for management to share decisions made by upper level management on behalf of the employee. Conclusion In conclusion, it’s important for management to understand the recommendations described above evolve. As time and the level of growth of the organization changes, so will the methods. it’s important for management to understand that change is always important. As customers, technology, expectations, and workforce change, the organization must be ready for what is to come. Most of the successful organizations of 2015 have anticipated a change in the market. So when the change occurred, they were ready and adapted instead of playing catch up with the change. References El-Shishini, H. (2001, December 13). Integrating Financial and Non-Financial Performance Measures. Retrieved April 27, 2015, from http://cours2.fsa.ulaval.ca/cours/gsf-60808/bsc.pdf How to Become a Certified Limousine Driver in Austin, Texas. (2012, September 5). Retrieved April 27, 2015, from http://en.netlog.com/diannarosemary/blog/blogid=11780256 Cascio, W.F. (2013). Managing Human Resources (9th ed.). New York, NY: The McGraw-Hill Companies Inc, Retrieved from University of Phoenix eBook Collection database. Workplace Training, Chapter 8. Duggan, Tara (2014). How to Develop a Skill Gap Analysis. Demand Media: Chron. Retrieved from: http://smallbusiness.chron.com/develop-skill-gap-analysis-39872.html Balle, Louise (2014). How to Deliver Effective Performance Appraisals. Demand Media: Chron. Retrieved from: http://smallbusiness.chron.com/deliver-effective-performance-appraisals-23603.html

Reproductive Technologies

Reproductive Technologies Introduction Twenty years ago, the only reproductive technologies available to infertile couples were artificial insemination and in vitro fertilization. Since that time, there has been an increase of reproductive technologies, and a multitude of options are now available to those couples who are infertile. Infertility affects ten percent of men and women. One in six Canadian couples is infertile. To overcome infertility many couples have chosen the path of reproducing artificially using reproductive technologies.Reproductive technologies are a term referring to methods used to achieve pregnancy by artificial or partially artificial means. They help improve a couple’s chance of conceiving and carrying a child to term. The Canadian government had recognized the importance of reproductive technology and created the Bill C-13 which was introduced into the House of Commons on October 9th, 2002. This act is respecting assisted reproduction and related rese arch. Attempts at the first non-human embryo transfer date back to the 1980’s.Improvements and discoveries over the following decades lead to the first successful IVF births in 1959 in rabbits by a Chinese scientist. The first human in vitro pregnancy was achieved in Australia in 1973, but it resulted in an early miscarriage. Louise Brown was the first baby conceived through in vitro fertilization. She was born on July 25, 1978, in Oldham, England. Dr. Robert Edwards and Patrick Steptoe had been researching fertility methods since 1968 that included artificial insemination and in vitro fertilization.In vitro fertilization is the most common type reproductive technology. This process involves s man’s sperm and the women’s eggs being collected and combined in a laboratory dish. The embryo is then transferred to the women’s uterus. One cycle of IVF costs on average $12, 400. It has a success rate of approximately twenty eight to thirty five percent. Artifici al insemination or intrauterine insemination is another reproductive technique. A sample of sperm is directly injected into a women’s uterus. This allows the sperm to be screened for genetic disorders.The success rate is approximately five to twenty five percent. A new development in IVF is in vitro maturation. Immature eggs are collected from the ovary and ripened outside the women’s body. They are then fertilized through IVF. This treatment is suitable for women who cannot produce mature eggs. IVM has a success rate up to thirty percent. Technology is not the only type of fertility treatment for infertile couples. Couples may also take fertility drugs. Women can take these drugs to act hormones for women who aren’t producing eggs properly.Fertility drugs can range from fifty dollars to five thousand, depending on the type of treatment. Though reproductive technology helps infertile couples conceive, it also has its setbacks. Risks with reproductive technologie s include bleeding or infection, birth defects, increased risk of cancer physical and financial stress and the chances of miscarriages at twenty percent. Key Questions How has reproductive technologies affected fertility? Reproductive technologies have increased fertility. Couples who are unable to have children can now do so due to assisted reproductive technologies.It has provided happiness and hope for couples who were first deemed as infertile. Reproductive technologies have also helped same sex couples of having children. Women can conceive through donated sperm through in vitro fertilization or through artificial insemination. Also men can have children through a surrogate who can conceive with the multitude of reproductive technologies. Couples who settle down later in life with lower fertility rates can still have children with assisted reproductive technologies. What issue has arisen from assisted reproductive technologies?Reproductive technologies have caused an ethical di lemma. Many individuals do not believe that using technology is proper to have children. The Catholic Church does not support reproductive technologies. The church regards these procedures as dehumanization and depersonalization of reproducing. Many believe that children should come into being as a direct result of sexual intercourse of the parents, where they are accepted as a ‘gift’ and blessing and not as a ‘product’ of doctors. Technology can be used to assist the fertility of a couple’s sexual act, but it should never replace it.Is reproductive technology negatively or positively affecting couples? Reproductive technologies are positively affecting couples. Couples can fulfill their wish of having children. There are many forms of reproductive technologies to help address every couple with conceiving a child. However, the couple’s family view on reproductive technology can negatively affect them. If a couple comes from a family who does n ot believe in having a child through technology that can put great stress on the couple. The couple would not like to go against their family’s belief but still would like a child.Their family could tell them to wait and have a child naturally which could result the couple to further decrease their chances of conceiving. Will there be more types of reproductive technologies in the future? With technology constantly changing and new items being brought out every few years, it could be likely for different types of reproductive technologies to be discovered. As technology keeps growing, we are constantly coming up with new ways to do things. With advanced technology we are likely to find new ways to help couples to conceive a child. Will fertile couples use reproductive technologies to have children?Fertile couples may use reproductive technologies to have children. With men and women fully establishing their careers before settling and having children they may not have the tim e to raise children in the earlier stages of their relationship. When they are ready to they could use reproductive technologies to speed the process of having children. ASP Connections Anthropologists would look at the point of view of cultures toward reproductive technology. They would see the beliefs and opinions of a culture and how the society develops based on reproductive technology.The school of thought theory that relates to this is cultural materialism. Cultural Materialism is based on the idea that the true explanation of a culture can be derived by examining members decisions regarding human reproduction and economic production This connects to reproductive technologies because it is based on the idea that the true explanation of a culture can only be taken by examining member’s decision regarding human reproduction. It also believes in that the type of technology that is adopted by a culture determines what type of society they develop in.A culture could be fine regarding couple using technology to help them conceive or they could be against it because the child is not conceived naturally. Anthropologists could ask; how reproductive technology is viewed in cultures and groups and does other cultures belief influences another’s? Sociologist would explain reproductive technology as something that is helping society grow. Reproductive technology is helping infertile couples have children, therefore growing their society and economy. These children will grow up and help our economy by buying items and replacing workers who are retiring.The school of thought theory that relates to reproductive technologies is Neo-Marxism. Neo-Marxism relates to reproductive technology because it looks specifically to economic power to see the various ways in which it influences society. All aspects of reproductive technology are very expensive. If a wealthy couple is infertile they can easily go to reproductive technology and undergo the treatments. For a couple who are lower or middle class it will be harder for them to afford the treatments. The wealthy have more power to easily access anything they need.Sociologist could ask whether reproductive technologies are positively or negatively affecting society and if only the wealthy make up the most users of reproductive technology? Psychologists would focus on the behaviour of the individuals who know reproductive technology. They would find out personal opinions on how reproductive technologies are changing society. They would also look at individual reactions of couples who are undergoing reproductive technology. They would see how their emotions are to failure rates of reproductive technologies and success rates.The school of thought theory that relates to reproductive technologies is behaviourism. Behaviourism focuses on childhood experiences and the practises parents use to raise their children. If a child grows up in a family that follows religious beliefs and one of those beli efs is having children the natural way then that will affect their emotions and behaviour towards reproductive technology. An individual may be hesitant in accepting reproductive technology as a method of conceiving and fear what their family may think of them.Questions that a psychologist could ask is if family values affect an individual’s behaviour toward reproductive technology and are individual thoughts toward reproductive technology positive or negative? Case Study Obstetrics and Gynaecologists at the University Hospital in Ghent, Belgium completed a case-control study of all pregnancies obtained with assisted reproduction technology in the Dutch-speaking part of Belgium from 1992 until 1997 to investigate differences in peripartum obstetric events and the prenatal outcome.They studied three thousand fifty-seven singleton and 1241 twin pregnancies were studied. About 90% of pregnancies resulted from in vitro fertilization; the remainder resulted from intracytoplasmic s perm injection. Control subjects were selected from a regional register and were matched for maternal age, parity, fetal sex, plurality, and date of delivery. The main outcome measures were duration of gestation, birth weight, prenatal death, prenatal morbidity, incidence of congenital malformations, and incidence of caesarean delivery.The results were odd ratios and 95% confidence intervals were 2. 6 (1. 4-4. 8) for prenatal mortality, 3. 5 (2. 2-5. 7) for birth before 33 weeks of gestation, and 1. 7 (1. 5-1. 9) for caesarean delivery in singleton pregnancies that resulted after in vitro fertilization. Twin pregnancies obtained with in vitro fertilization, were similar for all outcome measures, except for the incidence of caesarean delivery (odds ratio, 1. 4; 95% confidence interval, 1. 2-1. ) compared with spontaneously conceived twin pregnancies. The prenatal outcome of singleton pregnancies obtained with in vitro fertilization is significantly worse than that of spontaneously co nceived pregnancies, mainly because of the increased rate of preterm birth. The outcome of twin pregnancies obtained with in vitro fertilization is comparable with that of normally conceived twins. For both singleton and twin pregnancies obtained with in vitro fertilization, the incidence of caesarean delivery is increased.This is important to reproductive technologies because it shows that using reproductive technologies could cause defects in children and having more children than intended. Bibliography (No author) At Issue: Human Reproductive Technology. (n. d. ). SIRS Issues Researcher. Retrieved October 12, 2012, from sks. sirs. com/cgi-bin/hst-article-display? id=S200008707-0-6416&artno=0000307357&type=ART&shfilter=U&key=&title=At%20Issue%3A%20Human%20Reproductive%20Technology&res=Y&ren=N&gov=Y&lnk=N&ic=N (No author) Louise Brown. (2012). Biography. com. Retrieved 07:50, Oct 28,