Monday, September 30, 2019

General Management †George David Essay

George David has been CEO of United Technologies Corporation (UTC) for more than a decade. During that time he has received numerous accolades and awards for his performance as a CEO. Under his leadership UTC, a $343 billion conglomerate whose operating units include manufacturers of elevators (Otis Elevator), aerospace products (including Pratt & Whitney jet engines and Sikorsky helicopters), air conditioning systems, and fire and security systems, has seen earnings grow at 10–14 percent annually—impressive numbers for any company but particularly for a manufacturing enterprise. According to David, a key to United Technologies’ success has been sustained improvements in productivity and product quality. The story goes back to the 1980s when David was running the international operations of Otis Elevator. There he encountered a Japanese engineer, Yuzuru Ito, who had been brought in to determine why a new elevator product was performing poorly. David was impressed with Ito’s methods for identifying quality problems and improving performance. When he was promoted to CEO, David realized that he had to lower the costs and improve the quality of UTC’s products. One of the first things he did was persuade Ito to work for him at UTC. Under David, Ito developed a program for improving product quality and productivity, known as Achieving Competitive Excellence (ACE), which was subsequently rolled out across UTC. The ACE program has been one of drivers of productivity improvements at UTC ever since. Early in his tenure as CEO, David also radically reorganized UTC. He dramatically cut the size of the head office and decentralized decision making to business divisions. He also directed his accounting staff to develop a new financial reporting system that would give him good information about how well each division was doing and make it easier to hold divisional general managers accountable for the performance of the units under them. He then gave them demanding goals for earnings and sales growth and pushed them to improve processes within their units by implementing the ACE program. At the same time David has always stressed that management is about more than goal setting and holding people accountable. Values are also important. David has insisted that UTC employees adhere to the highest ethical standards, that the company produce that have minimal environmental impact, and that employee safety remain the top consideration in the work-place. When asked what his greatest achievement as a manager has been, David refers to UTC’s worldwide employee scholarship program. Implemented in 1996 and considered the hall-mark of UTC’s commitment to employee development, the program pays the entire cost of an employee’s college or graduate school education, allows employees to pursue any subject at an accredited school, provides paid study time, and awards UTC stock (up to $10,000 worth in the United States) for completing degrees. Explaining the program, David states, â€Å"One of the obligations that an employer has is to give employees opportunities to better themselves. And we feel it’s also very good business for us because it generates a better workforce that stays longer. † David states that one of his central tasks has been to build a management team that functions smoothly over the long term. â€Å"People come to rely upon each other,† he says. â€Å"You have the same trusting relationships. You know people; they know you. You can predict them; they can predict you. All of that kind of begins to work, and it accelerates over the tenure of a CEO. If you have people bouncing in and out every two to three years, that’s not good. According to Sandy Weill, former chairman of Citicorp and a UTC board member, David has the right mix of toughness and sensitivity. â€Å"When somebody can’t do the job he’ll try to help; but if that person is not going to make it work, that person won’t be on the job forever. † At the same time Weill says, â€Å"He does a lot of things that employees respect him for, I think he is a very good manager. Even though David is demanding, he can also listen—he has a receive mode as well as a send mode. †

Sunday, September 29, 2019

Display screen Essay

A monitor can be considered as a window into the computer’s memory. It allows data entry to be checked by echoing input characters on the screen. The disadvantage of monitors is that data on the screen is temporary (called softcopy) and they can hold only limited amount of data. Quality Factor – Resolution Resolution defines sharpness and clarity of an image and is specified as the number of dots per character. Modern packages are using a lot of graphics and therefore require high-resolution monitors. Display Adaptors Adaptors are cards installed in motherboard to control a monitor. The following specifications were evolving over the years:   Hercules – mono   Colour Graphics Adaptor (CGA) – low quality   Enhanced Graphics Adaptor (EGA) – medium quality   Video Graphics Array (VGA and Super VGA) – high quality   Extended Graphics Array (XGA) – successor of SVGA, has the power to handle the video and animation requirements of the modern multimedia packages and games Bit Mapping Technique For monochrome displays, only one bit of memory is required for each pixel. If it is set to 1, the pixel is illuminated. If the corresponding memory location contains 0, the pixel is left dark. A binary representation in RAM The equivalent screen representation Figure 1. Bitmapped representation of letter T coding in RAM and corresponding image on screen For colour monitors, more than one bit is required to keep information about a pixel because apart from illuminated or not setting, colour specification is also required. Monitors that are capable of displaying 16 colours only would require 4 bits of memory per pixel (16 = 24). Figure out how many bits of memory per pixel are required to give a choice of 512 colours? Thus the required size of visual memory depends on the number of pixels on the screen (resolution factor) and on the number of colours available. If you are buying a modern monitor which is bigger than 14†³, it is desirable to have at least 2 M of memory on the video card. Types of Monitors 1). Cathode Ray Tube (CRT) Technology: A beam of electrons lights up pixels/dots on the screen Colour is achieved by combining Red/Green/Blue (RGB) of different intensities. Size: Size is measured diagonally (corner to corner). Today monitors are available in sizes 14†³, 15†³, 17†³, 21†³. But the monitor size doesn’t tell anything about the maximum viewable image size. The bezel in front of every monitor’s CRT diminishes the viewable area by approximately an inch. When deciding on which monitor to buy, think of which resolution you’ll be working in most frequently. The higher the resolution, the bigger the monitor is required. Monitors usually display 25 lines 80 characters each in text mode. Standard Resolutions (in pixels) VGA 640 x 480 SVGA 800 x 600 XGA 1024 x 768 1280 x 1024 1600 x 1200 Some high-end monitors support these high resolutions. Designed for professional level work,1600 x 1280 e. g. computer-aided design or desktop publishing 1800 x 1440 Supported by at least one: ViewSonic P815 Mega An interlaced monitor draws its screen in two passes. First it draws every second line and then fills in the missing lines. Interlacing is noticeable because of flicking screen and can cause headaches. A non-interlaced monitor draws its screen in one pass. Another reason for a flicking screen is the frequency with which the monitor redraws its screen – called refresh rate or vertical scan rate. The bottom line should be 75Hz so that flickering effect doesn’t show up. Ensure that your monitor and graphics card can be synchronised to the same refresh rate. 2). LCD (Liquid Crystal Display) These displays are known as being used in calculators and watches. They have an advantage of being cheap but a disadvantage is that it is very hard to see what they display in the dark. They are used in laptops because they are flat. LCDs come as monochrome or colour. Monochrome LCD images usually appear as dark gray images on a grayish-white background. Color Liquid Crystal Displays use two basic techniques for producing color: passive matrix and active matrix. Passive matrix is the less expensive of the two technologies. It offers good contrast and viewing angle suitable for graphical user interfaces but its colors are not particularly sharp and it has slow reaction times. This is the most popular display used in notebook computers today. It consists of a grid of horizontal and vertical wires. At the intersection of each grid is an LCD element which constitutes a single pixel, either letting light through or blocking it. Active-matrix technology, also called thin film transistor (TFT), produces color images that are as sharp as traditional CRT displays at 1/8 the space, but the technology is expensive. For multimedia applications with video images the fast response time of TFT active matrix displays is ideal. For color active matrix provides individual color bits for each displays. An active-matrix display uses from one to four transistors to control each pixel. LCDs do not exaggerate actual viewing areas like regular monitors. For example, a 9. 4†³ LCD provides 9. 4†³ diagonal viewing area. This is the equivalent of an 11†³ CRT. Color LCD Comparison Chart Technology Contrast Ratio Response Viewing Angle Price Passive Matrix 20:1 300 ms Medium Medium Active Matrix 60:1 80 ms High High 3). Gas Plasma Gas-plasma display is a type of flat display screen, called a flat-panel display, used in some portable computers. Images on gas-plasma displays generally appear as orange objects on a black background. Although gas-plasma displays produce very sharp monochrome images, they require much more power than the more common LCD displays. Technology: A grid of conductors are sealed between two flat plates of glass; neon and/or argon gas fills the space between the plates. Comparison Of LCDs and Gas-Plasma Displays: Type Readability Battery Life Cost LCD Lowest Longest Lowest Gas plasma High Shortest.

Saturday, September 28, 2019

Quality Indicators for Safe Medication Preparation and Administration Essay

Being passionate about caring and helping others has influenced and inspired me to enter the medical field and has then encouraged me to become a registered nurse in the Philippines. I have worked in a public hospital located in Manila which caters health care services for people presenting infectious and tropical diseases. One day, I had an admission who was diagnosed with an Acute Gastroenteritis secondary to Acquired Immunodeficiency Syndrome. The doctor ordered a new antibiotic that should be given intravenously. When the antibiotic was already at hand, I administered the medication with the 100ml solution of normal saline to the patient. Afterward, because of a lot of toxicity in the area caused by a large number of patients, I forgot to reassess the patient whom I gave the antibiotic initially. I was surprised when I got back, the patient was already experiencing an allergic reaction to the antibiotic that the skin was flushed and generalized rashes were observed. I referred the patient immediately to the resident on duty and anti-histamine medications were given right away. Because of the incident happened, I felt overwhelmed with fear due to the possible consequences I had in my mind that the patient might suffer. I had been administering antibiotics many times in the past, but this situation made me feel guilty and uneasy. I even questioned myself if I am really that competent enough to do medical interventions to the patients. A nurse’s role is to render a high quality of care at all times. The reactions of the antibiotic would have been prevented if the proper assessment has been executed. Being knowledgeable in interventions especially medication administration is essential in my role, that I felt I didn’t accomplish fully. I documented all that happened to the patient and I made an internal incident report so that the other team members would be well-informed about the situation and also proper endorsements were done. Further errors and complications will be prevented through active management and effective reporting system would ensure patient’s safety. Administration of medicines to individuals who are ill is part of nurse’s responsibility to deliver holistic and optimal care (Veitch & Christie 2007). In the Philippines, nurses are required to practice methodical approach that follows local polices. In regards to my own experience, nurses practice 10 rights of medication administration that are intended to protect patients from any misconduct in promoting health. Some of the key things I have learned include developing my time management, multi-tasking, and organizational habits. One of the ways I would change what I did then would be to assess before and after administering certain medication to the patient especially if it’s an initial dose. I am now more cautious and responsible for my actions when delivering holistic care. Although I should’ve reassessed the patient, the experience I have gained from this has made me more mindful of patient’s rights that safeguard patient’s well-being. In the future, I think I would try to deal with this by improving the level of my competence and not neglect the aspects of nursing as a caring profession. I will continue to provide genuine care to the patients through further developing my skills in performing the 10 rights of medication administration. I intend to become more careful and as well as confident when protecting the health of my patients from possible risks of any treatment and health practices. As a registered nurse, I aim to advance my knowledge and skills that will befit the needs of the clients. Therefore, even if this experience for me was a challenge, I took it as an advantage to help me understand the importance of values in nursing and will guide me in tackling different instances and situations in the future.

Friday, September 27, 2019

Compare and contrast managing employment relations with and without Essay

Compare and contrast managing employment relations with and without trade unions - Essay Example Several employee employer surveys over the years have allowed for this nation to be put to test in real life workplace situation (Blanpain & Dimitrova, 2010). It is a fact that workers will perceive the management-employee relations based on practices and even structures that that underpin the relations between the management plus the workers on the individual bases and at large. Not to be forgotten also is the employee’s individual experiences at work as well as their reference frames. It is an obvious thing the opinions of the management-employee relations will vary across the hierarchy at the work place (Bendix, 2001). Managers and especially HR mangers will be less likely to be in criticism of the system as opposed to other employees. This varying opinion may also be caused by the fact that employee needs may differ from those of the managers. A differing opinion may also be as a result of the fact that the management operates on different reference frames, hence working on different information than the employees. As case in point, it is not unusual for a manager to interpret grumbling employees as a form of blowing off steam. While it may be in some cases true that they are letting off steam it is not always the case so there is a need for a mediator to unite the two (Fleming, 2004). It may be hypothesized that unions a perpetually in a bid to obtain higher wages for their members than they would ordinarily be offered were they absent. Some may also argue that trade unions result in the employers losing out to the employees when it comes to share of profits to the disadvantage of the firms. If this line of thought is followed then there is high chances for conflict to araise between the firms and the trade unions. Should the firms resist the trade unions, then the unions would be forced to mobilize workers leading to strong

Thursday, September 26, 2019

Strategic Managemet Essay Example | Topics and Well Written Essays - 3000 words

Strategic Managemet - Essay Example Information obtained from its official website shows that the company is guided by its cornerstone value which is to â€Å"build a company with a soul.† The operations of the company are shaped by its mission statement which is: â€Å"To inspire and nurture the human spirit—one person, one cup, and one neighbourhood at a time.† Broadly speaking, Starbucks strives to be â€Å"a purveyor of fine coffees in the world while maintaining uncompromising principles.† The company seeks to differentiate itself from other competitors in the coffee industry through provision of finest coffees to the customers. In actual fact, it can be observed that the success of the company can be attributed to its differentiation strategy. This report mainly focuses on the US segment since this company is very popular in this country. It operates its own stores as well as licensed stores. The FY11 Annual report states that the US segment of the company contributed about 69 % of the total revenue raised and this is the reason why this paper focuses on analysing the strategic fit of this particular company in the US. Regulations such as North American Free Trade Agreement (NAFTA) however have a bearing on the operations of this company. In order to analyse the macro environment of Starbucks, PESTEL analysis will be utilized while Porter’s five forces model will specifically focus on analysing the microenvironment of the organization. There are various external factors that shape the operations of Starbucks and PESTEL stands for political, economic, social, technological, environmental as well as legal factors that impact the operations of the organization and these characterize its external environment in which it has little control of (Armstrong & Kotler, 2004). Appendix 1 at the end of the report summarises the external environmental factors that affect the operations of

The Role of a Star Essay Example | Topics and Well Written Essays - 1250 words

The Role of a Star - Essay Example Staiger’s analysis of the origins of the American â€Å"star system† reveals the variety of angles through which the word â€Å"star† can be defined. Stars can be considered as a commodity tool as they represent an extremely successful form of investment. They can also be perceived according to the literal meaning of the word â€Å"star†; the character played by a given star forms with the real character of the same star a surreal versus real paradox leading inevitably to an association between the in-text and the in-real-life images of the same star. The third main approach of stardom holds a psychological dimension as it regards the spectatorship, the reasons why stars are often objects of desire have been subject to many analysis, some attribute it to charisma, some to â€Å"heavenly bodies†, .. etc. For a fuller vision of the evolution of the conception of stars, a flashback on the history of cinema has to be done. Various developments in Europe and the United States led to the invention of moving image technology forming the origin of the movie creation. However, it was only in the 1890’s that films were used as an entertainment medium, it was then when this technologic invention transformed into a business. In the nineteenth century, many political and social elements influenced the evolution of film industry. The art of Cinema tended to transform into a capitalist enterprise indeed. In fact, Janet Staiger, in her definition of the system of movie production, supports a Marxist point of view. She tends to consider the latter system as a sub-system initially controlled by patterns of organization of labor, such as scriptwriters, cameramen and women, prop makers in combination with two major factors, technology and capital. In the first decade of the twentieth century, Am erican movie companies withheld the name of film performers fearing that the public recognition would lead these â€Å"stars† to ask for higher salaries. In this dissertation, studying the Motion Picture Patents Company is to be used as a proof of the prominence of the role of stars in the evolution of the movie industry.

Wednesday, September 25, 2019

The Setting of The Cask of Amontillado by Edger Allen Poe Essay

The Setting of The Cask of Amontillado by Edger Allen Poe - Essay Example The distinction shown both literally and figuratively between these two aspects is typically called the gothic interior. The gothic interior, through careful attention to the setting, forces the reader to toggle between the feelings of being free and trapped, which in turn makes the reader more aware of these emotions. By taking an in-depth look at how the setting in, The Cask of Amontillado, including: the country, the carnival, the vaults, darkness, and the tomb: influence the main character’s attitude, decisions and behavior, and how it contributes to the story’s overall impact, the importance of the setting in gothic narratives becomes clear. The country in which The Cask of Amontillado takes place is Italy. This fact would typically not have a profound impact on the reader, unless they had some knowledge of the history of gothic narratives. Upon studying into the history of gothic narratives one would find that the first person to publish an explicitly gothic story , Horace Walpole did so in Otranto, Italy. The story he published, The Castle of Otranto: A Gothic Story, portrays confinement in that one of the main characters is ultimately pinned beneath a giant gold helmet that falls from the sky. So the fact that Poe chose to also set his short story, The Cask of Amontillado, in Italy could be a nod to the accomplishments of Walpole, and perhaps impact that Walpole’s writings had on his own. The fact that the main character of the story is ultimately trapped, along with the fact that one of the main characters in, The Cask of Amontillado, is trapped also leads many experts to feel this location comparison of Italy was intentional. The event that is occurring during the time this story takes place, the carnival, also has a profound impact on the gothic interior, or setting, and ultimately the actions of the main character, Montresor. The carnival is a celebration, the day before lent, in which people partake of those things they will be fasting during lent. This is a representation of a time of freedom and celebration before a time of confinement. For Montresor it also represents a time of freedom before he is ultimately confined by his own actions and murderous decision. However the description, given by Montresor, of the carnival is very vague and rushed. He does not take time to describe much of what is going on, only enough to prove how foolish and indulgent his protagonist, Fortunado, is. Even during the carnival Montresor keeps thinking of the vaults, or impending confinement. At one point during their walk toward the catacombs he says, â€Å"The vaults are insufferably damp. They are encrusted with niter† (Poe).This shows how consumed he is with his hate of Fortunado and his plan to kill. He consumed to the point that he is unable to see the life, party, or wealth he has around him his sole focus was the damp, darkness that lay ahead. As with most hate filled, vengeful plans the depths of emotion and mental turmoil lay within the dark inner chambers of ones heart and soul. This is physically manifested in The Cask of Amontillado as the dark, damp, vaults Montresor and Fortunado descend into. As they enter the vaults the narrator, Montresor, gives detailed descriptions of the death and darkness that surrounded them. He does this both verbally and with his narrative. At one point he says, â€Å"

Tuesday, September 24, 2019

Report Research Paper Example | Topics and Well Written Essays - 250 words

Report - Research Paper Example They employ, train and support local workforce and its families. They have initiatives that allow employees to be active citizens in the community by showing their care for the communities. Moreover, the company advocates for civic engagement, tax contributions and volunteerism among its staffs. According to their website, the Company encourages good deeds via its Disney  VoluntEARS  program. It was initiated on Earth Day in 1995 to supports efforts of global and local non-profits that protect ecosystems, wildlife, and make a helpful impact on the community. Since its inauguration, the kitty has supported over $20 million projects in over 112 nations. Through the film, Disneynature, the company has shared important information and compelling stories that submerge audiences in the natural world. The Disney Worldwide Conservation Fund supports efforts of global and local non-profits organizations that protect ecosystems, wildlife, and make a helpful impact on the community, Disney created a Green Standard agenda in 2008 to reduce their adverse impact on the environment. The program is directed at meetings/events, workplaces, dining and travels. Many more recycling bins have been introduced and hanging ads placed on in the hotel rooms reminding occupants to shut off the lights and water when not in use. These efforts are geared towards being more eco-friendly. The green standard has spread wide showing just how Disney has lobbied for environmental conservation. Volunteerism is a major center of attention for Disney. The company offers free tickets to a million individuals for them to offer a day of volunteer service to a community organization of their choice. ‘’This has encouraged a large number of people in America to commit volunteering in their communities’’2. As it has been indicated, the Disney Company has made massive investment in social responsibility. The three areas, volunteerism, environment and the community

Monday, September 23, 2019

Six Sigmas Concept Research Paper Example | Topics and Well Written Essays - 750 words

Six Sigmas Concept - Research Paper Example 27). The paper argues that Six Sigma is all these but not limited to the above-mentioned elements. Concisely put, Six Sigma is a business process that allows the companies to design their operations in such a way that helps in improving their bottom line profitability by decreasing the waste, increasing the quality. Six Sigma is the business philosophy that urges companies to create mechanisms, which to do fewer mistakes in everything that they do, from writing a checkbook to designing a aircraft, from sweeping the floor to refining petroleum (Carreira & Trudell, pp. 98-99). Despite the fact that Six Sigma could be placed in the life of quality management programs but it also has some striking differences from other quality management programs. First, when other quality programs focus on finding, detecting and understanding the defects to fix them in the early stages of production, Six Sigma urges specifically to create mechanism, systems, and operations, which are defect free (Pande & Holpp, pp. 14-15). Six Sigma believes that products which show defects during production are more likely to do the same when used by the customers; therefore, the focus should be recreating these processes in such a way that defects do not arise in the first place. Second, the way Six Sigma defines quality is much different from other quality programs. During the 1980s, when the prevalent definition of quality was about conformance to certain standards regardless of how these standards were being met. Under the umbrella of Six Sigma, quality is defined as â€Å"a state in which value entitlement is realized for the customer and provider in every aspect of the business relationship† (Summers, pp. 27). In the past, when companies focused solely to conform to standards and produce products according to customer requirements they always found themselves trapped. This was because the companies had little or no focus on the process itself. The company producing the product after finding several defects in it during production, and the company producing it defect free in the first attempt, both were standing in the same line because both had the same â€Å"quality† (Carreira & Trudell, pp. 98-99). Despite working hard on those products, profit margins of these companies remain stagnant or they even kept shrinking. They could not increase the price because of the competition but their costs were sky rocketing because of extensive reworking, reprocessing, warranties, inspection, lost sales, buffer inventory, return and allowances, testing costs, overtime, complaint handlings and others (Zinkgraf, pp. 38). Furthermore, Six Sigma is also a business strategy and management philosophy, which cannot be implemented in the absence of support from the top management and the front line employees. Unlike other quality programs, implementation of Six Sigma requires motivation and support from all employees of the day. It is about asking tough questions about the everyday operations in order to improve them (Carreira & Trudell, pp. 98-99). It is about asking tough questions and leaving comfort zone in order to become more effective in achieving the results. Moreover, Six Sigma believes

Sunday, September 22, 2019

Milk - Cheese Essay Example for Free

Milk Cheese Essay Milk contains all the food, including protein, fat, sugar, and other nutrients, a young mammal requires for a long period of time. Milk comes from sheep, cows, and goats. Milk is good for us because we grow up healthy and have a strong body; we have sharp teeth and have energy. Everybody needs milk, for example: babies, toddlers, sick people, children, and elderly people. In various parts of the world, goats, reindeer, donkeys, yaks, water buffalo, and sheep are domesticated and milked. In most countries, however, dairy cows provide milk. Milk and milk products are drunk and eaten in many forms, including buttermilk, cheese, yoghurt, and butter. Milk can be reduced to powder, concentrated in a thick liquid, and used in cooking. Fresh milk sours quickly, but, when changed into forms such as cheeses, it can be kept for a long time. People consume milk in fresh, dried, and condensed forms. Fermented-milk products, such as buttermilk, sour cream, and yoghurt, are also available. Milk is used to make food products such as butter, cheese, and ice-cream. Under normal conditions, the milk of mammals is the only food necessary for the health and growth of that mammal’s young for certain period after birth. Cow’s milk can be substituted for human milk in feeding babies only if the proportions of water and sugar to other components are increased. Milk is composed largely of water; cow’s milk, for example, is approximately 87 percent water by volume. The main nutrients, food elements are: proteins, the principal proteins in milk are casein and albumin. They contain all the essential amino acid for building tissues, blood and hormone substances. Casein is found only in milk and gives milk its whiteness. Carbohydrates, the fat of the milk is called butterfat, or milk fat, and is the part of milk from which butter is made. It is an important source of energy and rich in vitamin A. Minerals, milk are one of the best natural sources of calcium and phosphorus. Its other minerals include iron, copper, sodium, potassium, magnesium, sulfur and iodine. Vitamins, milk contains all the known vitamins, but only four-riboflavin, vitamin B2, thiamine, vitamin B1, niacin and vitamin A in significant amounts. Milk is an excellent source of riboflavin; it contains only a little less than does an equal amount, by weight, of lean meat. Microorganisms that Disease-causing organisms present in the cow can be passed on to the milk. Contamination can occur when the milk is obtained, stored, or transported. Milk is pasteurized to kill and prevent growth of microorganisms. Milk products: raw milk is natural, fluid milk. Pasteurized milk is milk that has been heated to 63 degrees.

Saturday, September 21, 2019

Marketing strategies in different markets of ferrari

Marketing strategies in different markets of ferrari The sports car brand Ferrari when focused, I analyzed their success and marketing strategies in different markets, one the German and second Italian market and worldwide. For information I used business theories such as the product life cycle, marketing mix, analysis of positioning and segmentation. These two large economically stable countries are different; Ferrari does not make many differences in the way of selling cars. The company being recognized by its rearing- stallion logo is up to speed. The Italian Co. volume sales to build its status brand by producing 6,400 high-performance sports cars a year, with the initial price about $140,000. GT and sports model include models like Spider, Scaglietti and Ferrari California. The companys F1 model brings Ferrari drivers close to the racing experience. Since 1947, the exclusive cars have been manufactured in Maranello, Italy and sold through strategically selected dealerships. Fiat S.p.A group holds 85% stake in Ferrari , Piero Ferra ri, son of Ferraris founder, owns 10%. Throughout the history of the company it has been noted for its continuous participation in racing mainly on Formula 1 where they have achieved great success. For the growth the company has launched a Ferrari World Theme Park in Abu Dhabi in the year 2010 which is also leading them to gain profits as people are attracted towards it. The sales have been increasing at an increasing rate from 2004-2008, in 2008 they had performed above average with a record breaking sales of above 6587 cars in a year for the first time, as result their turnover increased by 16% while the profit has been increased by ravishing 75%. But due recession hitting in fall 2008, the sales volume drastically fell by 85% in November 2008 (the sales reduced to 92 cars from 600 cars a month). As a result in 2009 there has been a fall in sales, turnover and profit. INTRODUCTION The history of Ferrari is incomplete without mentioning that Enzo Ferrari worked for Alfa Romeo from 1920-1929, after which he raced for another 10years for Alfas. From the time he was 12 he knew he wanted to be a race driver, the dream which he achieved at Alfa and adopted the cavallino, or prancing horse, insignia for his Alfa race car. In 1929 Enzo left Alfa to start his privately owned Alfa Romeo racing team known as Scuderia Ferrari in Modena. Scuderia Ferrari did not race cars with the name Ferrari; the Ferrari shop built its first car in Modena in 1937 the Alfa Romeo 158 Grand Prix Racer. The first championship they got was in 1952-1953 season. Ferrari started making sports cars in order to finance his Grand Prix and Le Mans adventures. Ferrari headed the company until he stepped down in 1971 and died in his hometown of Modena. His name is the most famous in motor sports. In 1952 the emblem of the prancing horse was created which is still used today. THE MARKET ENVIORNMENT:- The geographical market: in todays market Ferrari is facing tough competitors like Lamborghini, Porsche, BMW and Aston Martin. To survive in the market the competitors try and make highly innovative designs and high quality performance. They are in an automotive industry and have a subsidiary type of business and it was started by Enzo Ferrari. The headquarters of Ferrari are located in Maranello, Italy. It had remarkable revenue à ¢Ã¢â‚¬Å¡Ã‚ ¬1,921 million (2008). The owners of Ferrari are Fiat group 85%, Mubadala Development Company 5%. PEST-G analysis:- Political: the environmental protection laws in the company have come out with launching eco-friendly system in the car which will reduce pollution in the atmosphere, which politically will affect the taxation system as the consumers demand will increase. Economic: in the economic conditions Ferrari tries to be successful and profitable at any time because it affects its capital cost and demand. The timing and relative success of the company can be influenced by the economic conditions. The government decision plays an important role in the companys progress. Social: it depicts the demand and taste of the consumer demanded by the company which varies with the fashion and disposable income. Ferrari organization should be aware of the demographic changes such as the structure of the population by ages, affluence, regions and numbers working. Technology: the company tries to launch the latest technology for its automobiles as a competitive advantage for itself but it should keep in mind that technological breakthroughs can create new industries which might prove a treat to itself. On the other hand new technology could provide a useful input, in both manufacturing and service industries. THE COMPETITION The main competitors: in the market of Ferrari the competitors it faces are Lamborghini, BMW, Porsche and Aston Martin which has better performance and color and high quality maintenance Ferrari could face tough competition in the following. Sales and profit trend: The Middle Eastern and Far Asian sales of the competitive company has increased from 15.0-21.8% and also increased the unit sales from 2406-2430, which means the growth of 1%. The profit reports a decrease in worldwide sales for the first six months of the financial year 2009, in spite of which the company is still maintaining overall profitability among the major markets. Market Share: the company car tax efficiency, class-leading residual values and whole life costs have resulted in competitors winning a record share of the UK contract hire and leasing market. The competitors share of market has reached an all-time high of 8.8%-2.7% points up on the previous results. Target Markets: the competitors target market is upper-class people with high level of income. They focus on a person who mostly looks for luxury. In the future automobiles will have tough competition for selling the most environmental friendly vehicles. THE COMPANY Sales and profit trend: Ferrari announced a significant increase in both profits and sales for the second quarter of 2010, driven by the success of two new models, the California and 485, as well as demands for Ferrari 599 GTO. Revenue rose 8.6% year on year to EUR488m Euro and vehicle unit sales were 2.6% up at 1,615 units. Trading profit was up 10% to EUR77m. Market share: the companys total sales were 3,226 cars for customers around the world but it was 8% less compared to the year 2008. The market share price was up but was low on sales as the share increased by 10 to 32.8% in 2009. Business sector: the company was found in 1947 by Enzo Ferrari in Italy. They had highest sales was in the year 2008 despite seeing the period of recession. It has achieved one of the highest awards which were in the year 1997 (FCA) which was given in the annual meet, it also achieved the Platino Award for its reorganization. Project focus: the product of the company is an automobile, the brand name is Ferrari, it has launched models such as- Ferrari 308 GT4, Ferrari 550 Maranello, Ferrari 360 Modena Spider, Ferrari Challenge Stardale, Ferrari 430 Monza and many more. Their main segment is focused on F1 races. It mostly races in Italian and Australian Grand Prix. SWOT analysis :- STRENGTHS WEAKNESSES Extremely strong brand image Takes on new challenges on a constant basis Innovation Technology are key drivers behind the product Is looked upon as a status symbol. Ferraris business model, based around low volumes, removes the possibility of employing certain technological solutions Some models also limit their sales volumes even though a lot more demand is present in the market Due to their waiting list model, they lose out on customers to the competition A big challenge lying in wait is fuel efficiency emissions which are growing in importance every day, OPPERTUNITIES THREATS Growth in global market for high-performance super-cars due to growing economies developing nations Expansion of the brand through entering into new important automotive markets like India wherein competitors like Porsche have already set up base Enlargement of customer base maintaining Ferrari characteristics-performance, style and exclusivity. Development of technology has opened up new avenues to explore for their products. Tough competition from other iconic super car brands like Lamborghini Porsche. Automotive policies being pushed by countries continents all over the world which are being strictly enforced like the emission norms of 130g/km of CO2 are very difficult to keep up with due to the performance oriented nature of the engines built by Ferrari A competing brand like Porsche does not follow the same low volumes, high on exclusivity model which is followed by Ferrari hence sells a lot more of its products. THE COMPANYS MARKETING STRATEGY Segmentation:- demographic segmentation defines market accordingly White / Caucasian 89% Age 51.5 Married 83% Total in household- 2.94 Total of children 0.75 Education 79% Psychological Segmentation identifies market according to lifestyle characteristics Targeting: the identification of target markets based on the regional, urban, or rural locations of the customers. The company has different models of vehicles to help each individual accomplish a safe drive where ever they are coming from. Positioning: Ferrari is a car in the Super Luxury sub- category and is distinctly more expensive compared to the luxury cars such as BMW, Lexus and Mercedes. It is probably the only car maker that never worries at competition price its name is unmatchable. It is one of a kind automobile that doesnt need to be compared to other brands since it has a well-developed name in the cars market. The latest innovation is the 360 Modena, the 360 Modena combines Ferrari heritage with innovation. Differentiation/Low Cost Leadership/Focus: it is a unique automotive which painted in race red as this was the customary national racing color of Italy. The company is currently focusing on its own performance in Abu Dhabi. Growth strategy: the company opens an office in Dubai airport free zone, sales have been in double digits in the last couple of years. It is only natural to open a regional office in Dubai which is experiencing rapid economic growth along with the UAE and the entire Gulf region. THE MARKETING MIX Product:- Vehicles of high performance Carrazzeria Scagliette- program to allow clients to personalizing their cars A statement of class. Price: least expensive Ferrari: 360 Modena-$170,200 and most expensive Ferrari: Enzo- $700,000. Place:- 1 location in Vancouver 2 locations in Toronto 1 location in Montreal Location in Yorkville and Woodbridge Promotion:- F1 advertise through their use of F1 race car Brochure information about the different models. Reputation Relay on words of mouth, since the car meets a small amount of societies demand( cost)they expect customers who have interest to visit a dealership for more information Ferrari knows well of their clients. People, processes, physical evidence:- the 2010 Ferrari 458 Italia would be headline news from any car company since it is an attempt to bring forward the concept of an exotic sports car into an age more conscious of efficiency EVALUATION OF THE COMPANYS STATEGIES AND TACTICS Evaluation of the companys current position: currently the company has closed the quarter with a trading profit of à ¢Ã¢â‚¬Å¡Ã‚ ¬39 million. The decline was attributable on one side, to a less favorable product mix and, on the other hand, to the fact that newly -released F458 Italia provided a limited contribution for the period. The success of 8- cylinder models continued in the first quarter of 2010, with numerous awards and recognitions being received by the California and the F458 Italia. Evidence of the companys success:- Ferrari SpA, the maker of the $228,000 California supercar, will increase profit by more than 10% this year , helped by a surge in demand in emerging markets, said Chairman Luca Cordero di Montezemolo. Ferraris earnings before interest, taxes and one-time gains / losses, or trading profit increased by 10% to 77 million Euros in second quarter as the revenues increased. China sales increased 20% in the first half. The company was also successful in launching the Ferrari Theme Park in Abu Dhabi. Prospects for future growth/success: the luxury car maker company plans to start selling in India in the beginning of the year.2012 Ferrari 458 Italia Spider is the future model to be launched although it hasnt been officially announced, an open-up version of the 458 Italia is on its way in 2011 and the 2013, the final addition to the Italia lineup will be the Scuderia track model, which will leave behind some luxury in return for less weight improved performance. BCG MATRIX The company is large enough to be organized into strategic business sector facing the challenge. Cash cows: Ferrari has a vast market share in a slow growing industry. Cash cows require investment and generate cash which can be used to invest in other business units. Star: the company is leading in the high growth markets. They are generating huge amount of cash from the F1 races and have also used cash for launching new projects. Question marks: the company did not achieve a dominant market position, and do not generate much cash. Due to growth of the market they use most of the cash. The company by launching new sports cars and taking part in races is a rapidly growing market. Dogs: comparing to the Ferrari company sports cars other company cars have little future as they gain less cash by virtue of their low market share. CONCLUSION By analyzing the above report I can conclude the company is doing good as its sales and profit are good even in this time of recession compared to other competitive companies (i.e Lamborghini, Porsche, Maserati etc). Also their future projects are interesting which will attract the young generation. Ferrari achieves most of its success from the Formula 1 races by wining many awards, and also they have been successful in their recent launch of the Theme Park and aiming to launch more in other countries APPENDICES