Impact of Social Media Marketing

Question: Explain Impact of Social Media Marketing on Business. Answer: Now a day, social media marketing has become much popular among every sector or industry. It has been found that among all the marketing strategies, the social media marketing has become the most beneficial one as in these present days people are more familiar in using the internet and the social media sites like Facebook, LinkedIn, Twitter, Instagram and many more. The social media marketing is a strategy that is generally used by most of the companies both smaller and larger, where they use the websites of social media networking platform to market and sell their products. The primary objective of the social media marketing (SMM) is the development of a database, which will be shared by the users of the social networking among their social group in order to help the organization in brand building and also to widen the consumer reach. In the social media marketing, the social media optimization (SMO) plays an important role. It is a systematic approach that can gain effective and new visitors to a particular website. However, SMO can be performed by two technologies one connects the links of the social media to the database, like sharing options and RSS feeds. The second one is to provide advertisement regarding activity by using the social media and by updating the post, blog tweets or status (Zou Fu, 2011). The information that is shared on the social websites generally help the customers to determine the position of an organization in the market. The reason behind this is that 92 out of total 100 consumers trust more on the word of mouth than any type of advertisement, on the other hand, the online consumers reviews are taken as the second most trusted source. It has also been found that 46% of the total web users go through the social sites before purchasing. In addition to this, the firms gather double lead s on an average from the persons who use Twitter than who do not. 60% of the agency experts and 70% of the brand advertisers count the social media marketing as the most effective procedure for creating brand awareness. In the competitive market, it is an essential factor that every organization smaller and larger should take the advantage of digital technology with the aim to increase its profits (Tuten Solomon, 2013). This research proposal will indicate that how the SMM is related with the increased rate of the popularity of the firm and the selling of products increased. Problem Statement The implementation of the social media marketing strategy increases the sales of a company and thus it also increases the profitability ratio of the firm. However, it has been found that implementation of the particular social media marketing strategy is an expensive factor. Thus, most of the larger companies have implemented this strategy but it has been noted that smaller companies generally do not implement this social media marketing strategy for higher expense. The social media marketing strategy helps the companies to get popularize but it is hard for any new brand or new company to penetrate the market as various risks are associated with the online business. Trust of the customers on the company especially in the process of transaction is the main factor or it can be said that it is the essential factor (Smith Zook, 2011). Thus, it might happen many times that people do not start trusting any new brand or company and thus they do not purchase any products and services from t he new company. Therefore, proper promotional campaign, advertising are required for building the brand and also for increasing the popularity of the firm. The social media marketing strategy helps to build good relationship with the customers (Singh Diamond, 2012). However, it has been found that to develop or to build good relationship with the customers, the company has to suffer much. The main reason behind this is that there are various risks related to the online marketing business. These include the reputational risks, employment risks, legal risks, security risks, intellectual property risks, media risks, defamation risks, operational risks, privacy risks and also social media risks. Social media has changed the process of communication and interaction (Scott Scott, 2011). Thus the operation of the companies should also vary. The legal risks that are linked with the social media should be considered carefully in order to engage in a social media strategy. The reputational risks are the main problem as through online websites, one company can get affected due to various prank video stories or due to false representation of the company information. The social media sites potentially increase the security risks especially the personal information and details of the customers like account number, debit card number and many more (Pride Ferrell, 2012). In addition to this, most of the customers remain scared of the transaction factor as hacking is a major problem in case of internet or online shopping. Defamation results due to social media activities and thus companies sometimes might need to be aware of the defamatory statements made by their employees regarding its competitors and the statements made by the people based on the third party social networking pages of the company. On the other hand, the operational risks might also affect in building relationships with the customers of the company. The reason behind this is the risk of endangering the networked computers of the organization by unknowingly acquiring viruses, malware and spyware (Malhotra, 2013). In such scenario, it has become essential that in order to increase the sales and profitability of the company and its popularity, the firms have to overcome all the risks and barrier regarding the social media marketing (Olivas-Lujan Bondarouk, 2013). This study will help to fill the gap with the empirical evidence of the impacts and the risks of the social media marketing faced by the companies and it will help the companies to build good relationship with the customers. Research Objectives/ Questions The primary objective of this research proposal is to recognize the potential output of the social media marketing strategy that is mainly used by the organization. The research questions are as follows: How does the impact of social media marketing strategy lead to an increase in the popularity and the sales of an organization or of a business? How much is social media marketing effective over the traditional marketing style? How does the social media marketing helps to build the relationship with the customers? Justification of the Project The social media platform offers the organizations to interact and connect with the customers and also to promote the brand of the company. It can also be said that social media marketing strategies help in brand building and in driving the traffic to the website of the particular company (Malhotra, 2012). The involvement of the organizations in the social media platform creates more human face to the particular business. This helps the organizations to get popularize in short period of time. Thus, it can also be said that the social media marketing helps to increase the revenue of the firm along with the profitability ratios of the organizations. However, some issues have been stated in the problem statement of the proposal based on which this research proposal has been structured (Macarthy, 2013). Though there are various types of facilities and positivity in the implementation of the social media marketing strategies within the organization, there are various negativities. These i nclude firstly, there are a number of major social sites like Facebook, Twitter, YouTube, LinkedIn, Instagram and Google+ and many more, thus it might create confusion among the management department of the companies as they have to identify first that which social media site is more used by the customers and as per the survey and analysis the firms will use those particular social media sites for marketing. Secondly, there are several risks associated with the social media marketing strategies, these include social risks, reputational risks, operational risks and legal risks (Lamb, Hair, McDaniel, 2011). In addition to these legal risks include employment risks, security risks, intellectual property risks, media risks, defamation risks and privacy risks. Therefore, it can be said that the performance of the particular research proposal is justified and significant as every organization should overcome the above stated issues regarding implementation of the social media marketin g strategies within the firm. The overcome of the issues will help every firm both larger companies and smaller companies will be able to implement the particular SMM strategies within the organization (Kotler Keller, 2012). And implementation of this strategy will help every organization to interact and communicate more with its customers and this will also help to understand the customers better. Thus it makes the companies able to provide the products and services as per the demand and need of the customers. By fulfilling the demand and need of the customers, the companies gain more customers and thus sales of the firm increased along with the profit percentage of the firm also increased. All these positivity help the firm to get more popular within the competitive market and these acts as the competitive advantage of the firm. Expected Research Output/ Outcome The outcomes of this particular research study will give an analytical framework for the investigation of the factors that affects the businesses because of the implementation of the social media marketing strategies that ultimately help in developing the growth and the popularity of the businesses and also in analyzing the strategies that are used by the companies with the aim to proof the effectiveness of the social media marketing strategy over the traditional marketing style (Kerin, Hartley, Rudelius, 2011). This research proposal is also expected to build the relationship of the company with its existing and potential customers through the implementation of the social media marketing strategies (Grewal Levy, 2012). The response of various businesses might vary but still the research study will help the researchers to understand the scenario and will also help to provide a wholesome picture of the particular circumstance regarding the impact of the social media marketing on the businesses. The adaptation and the performance of the smaller business depends on many factors, these include the high expense for the implementation of the social media marketing strategy, the ability of the smaller firms to fight against all the types of risks and the ability of the smaller firms to earn the trust and the belief of the customers regarding offering of cost effective and authenticated products and services might affect the implementation of the particular strategy (Evans, 2012). These factors might have an effect on the final output of this particular research study. Moreover, the research objectives and questions will be answered as these have been identified in this research proposal on the basis of the information and data gathered during the interview and questionnaire survey, findings and analysis, which will be performed for the same (Elliott, Rundle-Thiele, Waller, 2012). All these outputs of the research study will be considered as an important academic w ork for the specified and stated problem statements that have been recognized only for this research proposal. Lastly, it can also be said that this particular research study will provide benefit to the future owners of the start-up businesses prior to embark of their businesses. Conceptual Framework and Research Hypothesis In this research proposal study, the aim of the researcher is to find out how the use of the social media marketing strategy can help an organization in order to (i) increase the sales of the firm and its profit percentage and (ii) reach out to increased numbers of consumers and to build and maintain a good relationship with the customers. This analysis will also help to understand the reasons for which the social media marketing strategy is considered as more effective over the traditional marketing style. Therefore, a conceptual framework has been proposed by the researcher where both dependent and independent variables have been considered. In this proposed conceptual framework, there is only one independent variable and has two dependent variables. The single independent variable for this particular research proposal is the use of the social media marketing strategy and on the other hand, the two dependent variables of the conceptual framework depending on the research proposal a re increase in sales amount and sales volume and reaching out to more consumers (Bosik, 2011). The proposed conceptual framework of the implementation of the social media marketing strategy within an organization or a business has been structured as follows: Hypothesis: There are mainly two aims that are needed to be analyzed and discussed in order to analyze the stated problem statements of this research proposal. Firstly, the aim of this research proposal is to investigate whether there is any relationship or not between the use of the social media marketing strategy within an organization and in reaching out to more consumers of the company (Biddle Emmett, 2013). Therefore, the hypotheses can be stated as follows: H0: There is no relationship between the use of the social media marketing strategy within an organization and in reaching out to more numbers of consumers. H1: There is a relationship between the use of the social media marketing strategy within an organization and in reaching out to more numbers of consumers. Secondly, the other objective of the firm is to find out whether there is any relation between the use of the social media marketing strategy within an organization and in increasing the sales volume and sales amount of the products and/ or services of the particular firm (Berghoff, Scranton, Spiekermann, 2012). Therefore, the hypotheses can be stated as follows: H0: There is no relationship between the use of the social media marketing strategy within an organization and in increasing the sales volume and sales amount of the products and/ or services of the particular firm. H1: There is a relationship between the use of the social media marketing strategy within an organization and in increasing the sales volume and sales amount of the products and/ or services of the particular firm. Methodology For every research study, methodology plays a vital role as proper selection of method is essential for completing the research systematical and in time. In this research study, various methods will be undertaken to complete the research in time and to analyze the problem statements effectively. Literature Review: The relevant literature and the available information will be used for in-depth study. These include journal articles, blogs, books, websites, Google Scholar and videos (Bartkowiak, 2012). Thematic analysis of these documents will be performed. Data Collection Method (Data Series and Questionnaires/ Surveys) Various data and information can be gathered from the series of data. The surveys will be conducted in order to provide an idea regarding the usefulness of the implementation of the social media marketing strategy, increase in the sales and the method of overcoming the risks associated with the implementation of the particular strategy. Moreover, questionnaires will be prepared and distributed online in order to save time. The answers of the survey will help the researcher to understand the reason and the relationship between the implementation of social media marketing strategies and in the good relation with the customers. Observing Key Indicators: By examining the critical information from the websites of other companies that focuses on implementation of the social media marketing, the analysis of the research study will be performed (Barker, Barker, Bormann, Neher, 2013). Data Analysis Methods: Data will be analyzed by using both qualitative and quantitative methods. The qualitative analysis will include the information gathered from surveys and online forums with the marketing advisors. On the other hand, quantitative analysis will be performed on the basis of the figures, excel sheets, pie charts, statistical and mathematical modeling that are available from scholarly articles and online. This research study will consider a mixture of all the methodologies mentioned above. By applying these methodologies the researcher will be able to analyze the problem statements in details (Baines, Fill, Page, 2011). Organization of the Study The organization of the study is as follows: Chapter One It will represent the Research Proposal as structured in this assignment. Chapter Two This chapter will describe the particular case study related to the impact of the implementation of the social media marketing strategies on the businesses. Chapter Three It will include the details of the methodology that is the literature review of the particular research topic, data collection methodologies like data series and questionnaire surveys, observation of primary indicators of the social media marketing strategies and data analysis methodologies (Albarran, 2013). Chapter Four This chapter will represent the Data Interpretations and Findings along with the Analysis of this research proposal. Chapter Five This particular chapter will summarize all the important findings and will discuss about their implications in making the businesses better prepared in order to survive in the competitive market by implementing the social media marketing strategy on the businesses, both smaller and larger companies. Gantt chart The table below shows the timeline for the entire Project to be completed. Research Activities 1-4 4-8 8-12 12-16 16-20 20-24 24-28 Topic of the Research Analysis of the secondary source Layout of the investigation Literature review and theories Operations and research plans Research Plans and Techniques Primary data Analysis Interpretation of Data Analysis Findings and Analysis Conclusion and Summary Formation of Draft Final Submission of the research Paper Milestones and Deliverables Project Budget and Budget Justification The budget of this research study is around $5000 with the aim to complete the particular project within the specified time frame as provided in Gantt chart. The significance of the projected budget is as follows: The Literature Review requires the usage of journal articles, textbooks and online resources, which are not free of cost. This will cost about $1200. Data will be collected in the form of questionnaires and surveys that will include travelling, printing and mailing expenses (Aaker, 2013). This will cost around $2300. For data analysis, charts, graphs, various data and tables have to access. Thus some cost should also be allocated for this purpose. This will cost around $1500. In summary: Purpose Projected Expense Literature Review $1200 Data collection $2300 Data Analysis $1500 Total Estimated Budget $5000 References Aaker, D. (2013).Marketing research. Hoboken, NJ: John Wiley Sons. Albarran, A. (2013).The social media industries. New York: Routledge. Baines, P., Fill, C., Page, K. (2011).Marketing. Oxford: Oxford University Press. Barker, M., Barker, D., Bormann, N., Neher, K. (2013).Social media marketing. Mason, OH: South-Western Cengage Learning. Bartkowiak, J. (2012).Market research in a week. London: Hodder Education. Berghoff, H., Scranton, P., Spiekermann, U. (2012).The rise of marketing and market research. New York, NY: Palgrave Macmillan. Biddle, J. Emmett, R. (2013).A research annual. Bingley, U.K.: Emerald. Bosik, D. (2011).Mobile marketing advertising 2012. [Place of publication not identified]: Mind Commerce Publishing, LLC. Elliott, G., Rundle-Thiele, S., Waller, D. (2012).Marketing. Milton, Qld.: John Wiley and Sons Australia. Evans, D. (2012).Social media marketing. Indianapolis, Ind.: Wiley. Grewal, D. Levy, M. (2012).Marketing. New York: McGraw-Hill/Irwin. Kerin, R., Hartley, S., Rudelius, W. (2011).Marketing. Boston: McGraw-Hill/Irwin. Kotler, P. Keller, K. (2012).Marketing management. Upper Saddle River, N.J.: Prentice Hall. Lamb, C., Hair, J., McDaniel, C. (2011).Marketing. Mason, Ohio: South-Western Cengage Learning. Macarthy, A. (2013).500 social media marketing tips. Lexington, KY: [CreateSpace]. Malhotra, N. (2012).Basic marketing research. Boston: Pearson. Malhotra, N. (2013).Review of marketing research. Bingley, U.K.: Emerald. Olivas-Lujan, M. Bondarouk, T. (2013).Social media in strategic management. Bingley, UK: Emerald. Pride, W. Ferrell, O. (2012).Marketing 2012. Mason, Ohio: Cengage Learning. Scott, D. Scott, D. (2011).The new rules of marketing PR. Hoboken, N.J.: John Wiley Sons. Singh, S. Diamond, S. (2012).Social media marketing for dummies. Hoboken, NJ: Wiley. Smith, P. Zook, Z. (2011).Marketing communications. London: Kogan Page. Tuten, T. Solomon, M. (2013).Social media marketing. Boston: Pearson. Zou, S. Fu, H. (2011).International marketing. Bingley: Emerald.

Relationship between Christians and Jews

In Europe, especially Germany there was a certain separateness of language and culture between Christian Europeans and the Jews. Though, this was noticed during the time of emerging heresy (new faith) in Europe.Advertising We will write a custom essay sample on Relationship between Christians and Jews specifically for you for only $16.05 $11/page Learn More Consequently, Christianity was declared the official religion of the Roman Empire in the fourth century, but surprisingly Judaism was singled out as one of the rival religions to be protected by the church when the Roman Empire crumbled in the then Western Europe. Accordingly well-organized governance and order also crumbled with it, which brought about the medieval ages (Dark ages). However, St. Paul’s doctrine remained and was basically an admonishment of some of the mosaic laws. In line with this, it made the Jews view Christianity as blasphemy against God and their faith (Birnbaum 107). Add itionally, the papal institutions that came into being after the fall of the Roman Empire led to the accusations of Jewry blasphemy against the church (Christian faith) on the basis that the Jews had inflicted torture and murdered the Messiah under the sign of the cross. Furthermore, the papal church began an inquisition and direct punishment of heresy in the Kingdom of France under the director of the cathedral school in Mainz Conrad of Marburg. The papal church considered the interethnic coexistence between the Jews and Arabs with hostilities. However, the Christians in northern Europe were still divided and did not accept Jewry in their social order as did the Arab society. Generally the view of Christians towards Jews has been their interpretation about the role of the Jews in the life and death of Jesus Christ and their accusation of the Jews as the murderers of Christ. In modern times very few people in Europe still hold these convictions. Nevertheless, modern study and psycho logy has brought about the feeling that, though the ancients Jews were guilty of Christ’s death. The Jews still had very close ties which united them with Christ, since they the Jews were of the same race with Christ, and witnessed of his death and resurrection. The modern Christians in Europe and elsewhere has since come to realise that, â€Å"Christ became the redeemer only because he was crucified† thus, holding the Jews responsible for the crime from which the Christians reap moral and psychological belief.Advertising Looking for essay on religion theology? Let's see if we can help you! Get your first paper with 15% OFF Learn More Conditions that brought about the persecution of the Jews in the High Middle ages. A common view that led to the persecution of the Jews in the High middle ages is because of the ecclesiastical pressure to Christendom of Jews, and rulers eventually bowed to ecclesiastical demands. In England, the King alone profited, the no bility believed that Jews posed a constant threat, hence, the nobility pressed for expulsion, just as it sought to destroy the Jews of York in 1191, Seeing in the Jews the King’s hated financial agents (Levy 21). Why persecution is not possible today In the modern era the holy book (Bible) has become something that both unites and separates Jews and Christians. Additionally, in the 19th century a body of Jewish Christians was formed in England by Rabinowitz. Though, it caused great controversy, but it was still supported by some Jewish Christian leaders. However it grew significantly into the twentieth century and spread to other parts of the world. To understand the relationship between the Christians and Jews, there must be an appreciation of both of them, in that, without the Jews Christianity would not have existed. (Frojmovic 34). There must be dissemination of knowledge on the issue of Judaism not being evil or linked with the death of Christ. Though, modern theology an d doctrine has striven to tackle the problem and thus building of the relationship between the Jews and Christians which necessitated the calmness and peace they both share. Moreover, there is impressive unification between the Christians and Jewish. Additionally, the Jews in Europe are now accepted and recognised since the creation of Israel. Though many migrated to the newly founded country, while many opted to remain in Europe and keep their citizenships. With these remarkable events it would be quite difficult for anti-Semitism to show its ugly face in Europe due to the modern political and socio-economic order which have been put in place.Advertising We will write a custom essay sample on Relationship between Christians and Jews specifically for you for only $16.05 $11/page Learn More Works Cited Birnbaum, Salomo A. Yiddish: a survey and a grammar. Manchester: Manchester University Press ND, 1979. Frojmovic, Eva. Imagining the self, imagining the o ther: visual representation and Jewish-Christian dynamics in the Middle Ages and early modern period. Laiden, The Netherland: BRILL, 2002. Levy, Richard S. Antisemitism: a historical encyclopedia of prejudice and persecution, Volume 2. Santa Barbra, California: ABC-CLIO, 2005. This essay on Relationship between Christians and Jews was written and submitted by user Miracle J. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Anthro Study Of Weight Lifting essays

Anthro Study Of Weight Lifting essays For my fieldwork study I went to the University Recreation Center weight room. I began by observing and evaluating people inside the weight room. There were about thirty-five people working out. The ages ranged from eighteen-year-old freshmen to fifty year old Hofstra alumni. The males dominated in population by about eighty percent. Many ethnic groups spread throughout the room. The weight room consists of barbells, abdominal, back, shoulders, chest and leg machines. There are also nautilus machines, chin up bars, and a weight scale. People use the weight room mainly for good health but also for nice looks and big egos. There is usually at least one supervisor making sure everyone maintains safety with the weights. The supervisor consistently made sure weights werent in the way so people wouldnt trip over them. All people that were working cooperated with the rules because the weight room was very clean. People seemed very courteous to others. For the most part, people were wearing sweatpants, tee shirts, and sneakers. The music consisted of a rap FM radio station, Hot 97. I guess that is the music that most people appreciate. The music kept alive and pumped. There were roughly two to four people working out in each section. I noticed a group of four Asian people bench pressing; the rest consisted of white and black people. My overall perspective of my night in the weight room was that people all seem to be having fun. People were dancing, singing, and smiling in between their exercises. It seems to me that people really take an interest in improving their health and body tone. I noticed that people really struggle to do their limit and above, just to increase their body size. I also noticed that a lot of people go to the weight room to release stress and tension that they build up during the day. This says that the U.S. culture has become very conscious of health and body discipline. All different ages reac...

Worksheet for Chebyshevs Inequality

Worksheet for Chebyshev's Inequality Chebyshev’s inequality says that at least 1 -1/K2 of data from a sample must fall within K standard deviations from the mean, where ​​K is any positive real number greater than one. This means that we don’t need to know the shape of the distribution of our data. With only the mean and standard deviation, we can determine the amount of data a certain number of standard deviations from the mean. The following are some problems to practice using the inequality. Example #1 A class of second graders has a mean height of five feet with a standard deviation of one inch. At least what percent of the class must be between 4’10† and 5’2†?​​ Solution The heights that are given in the range above are within two standard deviations from the mean height of five feet. Chebyshev’s inequality says that at least 1 – 1/22 3/4 75% of the class is in the given height range. Example #2 Computers from a particular company are found to last on average for three years without any hardware malfunction, with a standard deviation of two months. At least what percent of the computers last between 31 months and 41 months? Solution The mean lifetime of three years corresponds to 36 months. The times of 31 months to 41 months are each 5/2 2.5 standard deviations from the mean. By Chebyshev’s inequality, at least 1 – 1/(2.5)62 84% of the computers last from 31 months to 41 months. Example #3 Bacteria in a culture live for an average time of three hours with a standard deviation of 10 minutes. At least what fraction of the bacteria live between two and four hours? Solution Two and four hours are each one hour away from the mean. One hour corresponds to six standard deviations. So at least 1 – 1/62 35/36 97% of the bacteria live between two and four hours. Example #4 What is the smallest number of standard deviations from the mean that we must go if we want to ensure that we have at least 50% of the data of a distribution? Solution Here we use Chebyshev’s inequality and work backward. We want 50% 0.50 1/2 1 – 1/K2. The goal is to use algebra to solve for K. We see that 1/2 1/K2. Cross multiply and see that 2 K2. We take the square root of both sides, and since K is a number of standard deviations, we ignore the negative solution to the equation. This shows that K is equal to the square root of two. So at least 50% of the data is within approximately 1.4 standard deviations from the mean. Example #5 Bus route #25 takes a mean time of 50 minutes with a standard deviation of 2 minutes. A promotional poster for this bus system states that â€Å"95% of the time bus route #25 lasts from ____ to _____ minutes.† What numbers would you fill in the blanks with? Solution This question is similar to the last one in that we need to solve for K, the number of standard deviations from the mean. Start by setting 95% 0.95 1 – 1/K2. This shows that 1 - 0.95 1/K2. Simplify to see that 1/0.05 20 K2. So K 4.47. Now express this in the terms above. At least 95% of all rides are 4.47 standard deviations from the mean time of 50 minutes. Multiply 4.47 by the standard deviation of 2 to end up with nine minutes. So 95% of the time, bus route #25 takes between 41 and 59 minutes.

Comparative Corporate Governance Essay Example | Topics and Well Written Essays - 2500 words

Comparative Corporate Governance - Essay Example There are several causes that have been cited for the crisis, including the conflicts of interests of Board members and auditors. (Deakin and Konzelmann, 2003:583). But the most relevant one that has been offered is the inherent defects in the shareholder model that the Company had adopted. This model focuses on maximization of shareholder value to the exclusion of other strategic corporate interests. The other major corporate governance model – Rhineland Model, on the other hand, is known as the stakeholder model because it is less susceptible to the kind of financial crisis that afflicted Enron due to the financial manipulation that was taking place. This essay will examine the proposition that the Enron financial scandal might not have occurred if the Company had implemented the Rhineland model rather than the Anglo Saxon model. The Anglo Saxon system of corporate governance places its emphasis upon â€Å"free market operation†, where the ultimate objective of organizational function is the achievement of shareholder value.(Berghe and deRidder, 1999:40). The German system which is based on the Rhineland Model, is much more concerned with a â€Å"socially corrected market economy.†(Berghe and deRidder, 1999:40). This Model attributes a much wider role to the corporation than the maximization of shareholder value. Attention is also directed to other stakeholders in the corporation in terms of objectives, criteria for performance as well as the corporate governance structure and processes. The basic assumption of the Rhineland model is that both labor and capital are necessary and cooperation between the two is important. As a result, it is not only the interests of the shareholders that will be of paramount importance, but also those of employees, customers and suppliers (Vitols:337). When there is a conflict of interest, the interests of the enterprise will take precedence over the interests of shareholders. Hence, the major difference

Data Set Essay Example | Topics and Well Written Essays - 500 words

Data Set - Essay Example What is the range of a set of data? Refers to the difference between the highest and the lowest data values of a given data set What is another name for the lower quartile? The first quartile What is the lower quartile? It divides the lower fourth of the data set from the upper three fourths What are the other two names for the middle quartile? The median, the second quartile What is the middle quartile? It refers to the overall median term of a given data set What is another name for the upper quartile? Third quartile What is the upper quartile? It is the median of the data values in the upper half of a data set What is the 5 number summary of a set of data? low value, lower quartile, median, upper quartile, high value What is a box plot? Refers to plot that shows the five number summary visually with a rectangular box enclosing the lower and upper quartiles, a line marking the median and whiskers extending to the minimum and maximum values. The term standard deviation sounds really scary, but it is not really a horrible monster what is it a measure of? It is a measure of spread or variation What is the formula we use to find the standard deviation of a set of data? standard deviation=√(sum of (deviations from mean)^2/total number of data values-1) What is the range rule of thumb? It is the relationship between the standard deviation and the range given by

Detailed Guidance Essay Example for Free

Detailed Guidance Essay The key to doing well on this task is detail. Several sections require that you analyze information. This requires that you read carefully, think deeply and show your insight that you gained from the information provided in the case study. A1. Utah Symphony Strengths and Weaknesses When picking out the strengths and weaknesses of symphony there isn ¿t a list to which you can refer. Rather, you will want to read the case study carefully and to use your insight to discover indications of strengths and weaknesses in the data provided in the case. Be sure to cite examples and to address all four required areas including: financial strengths/financial weaknesses leadership strengths/leadership weaknesses of the symphony. The key will be to think deeply about the facts of the case and to provide insightful responses. When considering financial strengths and weaknesses some items that you might consider include: profitability, stability, capital availability, reliance on revenue streams, fundraising, endowment sizes, expenses structures, policies that effect finances etc. and anything that you believe would affect the finances of the firm in a positive or negative way. When considering leadership strengths and weaknesses your focus should be on the leaders of the symphony, Keith Lockhart. What his strengths that you can make a case would improve is effectiveness as a leader? What are his weaknesses that would lessen his effectiveness as leader? Another thing to consider would be if there are any vacant key positions that would influence the leadership of the organization. Be sure to expound upon each strength and weakness. For a hypothetical example; if I were to indicate that the opera had a profit I would further indicate whether this was a strength because it was significant or I could as easily support that it the profit was so small in relation to its expense structure that the level of profitability was actual a financial weakness.  Now that I had made a general claim I would bring in the numbers from the case study to support my claim and then move on to the next strength or weakness. The key will be to discuss each strength and weakness enough to establish that it is, in fact, a strength or a weakness. A1a. Steps for Utah Symphony Now you ¿ve provided some really good insight in your discussion about weaknesses for the symphony and in doing so you have identified a number of weaknesses. The evaluators will be looking to see that you ¿ve provide recommendations of key steps that Anne can take for each of the weaknesses that you identified in your discussion. Also, with regard to key steps you will want to identify specific actions that Anne can take. For examples if one of the weaknesses is poor fundraising you might suggest that Anne sets aside a period of time each week during which she can employ her fundraising skills to improve fundraising. The recommendations of steps that she can take can be common-sense, basic steps (nothing fancy) but that would be effective in dealing with the weaknesses. A2. Utah Opera Strengths and Weaknesses Review the case study carefully to find examples of the strengths and weaknesses in the financial and leadership aspects of the symphony. Be sure to cite examples and to address all four required areas including: financial strengths/financial weaknesses leadership strengths/leadership weaknesses. The key will be to think deeply about the facts of the case and to provide insightful responses. When considering financial strengths and weaknesses some items that you might consider include: profitability, stability, capital, liquidity, revenue streams, fundraising, endowment sizes, expenses structures, policies that effect finances etc. When considering leadership strengths and weaknesses your focus should be on Anne Ewers. What are her leadership strengths? What are her strengths that you can make a case for would assist her ability to lead? What are her leadership weaknesses? Does she have any personal liabilities that would  weaken her ability to lead. Be sure to expound upon each strength and weakness. For a hypothetical example; if I were to indicate that the symphony had a profit I would further indicate whether this was a strength because it was significant or I could as easily support that it the profit was so small in relation to its expense structure that the level of profitability was actual a financial weakness. Now that I had made a general claim I would bring in the numbers from the case study to support my claim and then move on to the next strength or weakness. The key will be to discuss each strength and weakness enough to establish that it is, in fact, a strength or a weakness. A2a. Steps for Utah Opera Now you ¿ve provided some good insight in your discussion about weaknesses for the Opera and in doing so you have identified a number of weaknesses. The evaluators will be looking to see that you ¿ve provide recommendations of key steps that Anne can take for each of the weaknesses that you identified in your discussion. Also, with regard to key steps you will want to identify specific actions that Anne can take. For examples if one of the weaknesses is poor fundraising you might suggest that Anne sets aside a period of time each week during which she can employ her fundraising skills to improve fundraising. The recommendations of steps that she can take can be common-sense, basic steps (nothing fancy) but that would be effective in dealing with the weaknesses. A3. Scorecard Aspects Find and download the Balanced Scorecard document given to you in Task Stream. The balanced scorecard is not covered in your book. Look at the book from SkillPort  ¿ Performance Drivers: A Practical Guide to Using the Balanced Scorecard. This is where the template came from. Read chapter 1, 2 and 3 to best understand it.  ¿Compare the information in the current scorecards for each company to the cultures you can discern from the case study. Do you think the scorecards adequately address the strengths and weaknesses? Why or why not? B. Merged Company Balanced Scorecard (Create a Balanced Scorecard for the merged company using the strategic goals. These goals are given to you in the directions for the task (see information above the questions).  ¿Don ¿t just combine the symphony and opera goals, CSF ¿s and measurement.  ¿Use the strategic goals to develop a goal for each of the four aspects. Now, be creative, what should the critical success factors and measurements be?  ¿Make sure to create and include a vision statement and a business model statement (you can use the ones on the symphony and opera balanced scorecards as a model). When creating the goals for the individual sections of the balanced scorecard you will want to create goals that are specific to the section (finance, customer, internal etc.) but that, if achieved, would help the company to achieve the five first-year strategic goals that are identified at the top of the task. C. Merged Company Strengths and Weaknesses The key here is to analyze the company utilizing the balances scorecard as an analytical tool. In earlier sections you had to analyze strengths and weaknesses as you pull them out of the facts of a case study. However, now you have been introduced to a new analytical tool; the balanced scorecard and you will need to analyze each element of the balanced scorecard. You should analyze the strengths and weaknesses of the merged company addressing each section of the scorecard e.g. financial customer, internal process learning and growth. D. Issues From reading the case study and after reading about change management in Chapter 18 of the Kreitner and Kinicki, discuss an issue in each of the 3 areas (finance, human resources, and customer satisfaction) then include good mitigating steps that Anne could take to prevent the problem.†¨Ã¢â‚¬ ¨D1. Mitigating Actions This section requires that you identify 3 actions that Anne can immediately take to mitigate the three issues you identified above. (You should provide one recommendation for each of the issues that you identified in part D.) You should not only identify, but should also  explain, exactly what Anne should do for each of the three recommendations that you provide. †¨E. In-Text Citations and References in APA Format Every reference that is listed on the Reference list should have been cited in-text in your response. If you did not cite something in-text it should be taken off of this reference list. However, at minimum you should cite the case study and the course textbook and there should be corresponding in-text citations within your response.