Broken Windows Essay Example | Topics and Well Written Essays - 500 words

Broken Windows - Essay Example The theory postulates that when public behavior in a neighborhood is unregulated, it leads to the gradual â€Å"breakdown of community controls† (Kelling and Wilson, 2, 1982). The ‘broken window’ here is symbolic of the breakdown of the informal controls through which people regulate public behavior in a neighborhood. The shared civic obligations and mutual considerations of community living act as barriers to crime and disorder. Once these barriers are overcome by the perception that ‘no one cares,’ vandalism occurs. Social controls are weakened and citizens feel that the environment in uncontrolled. This generates fear. Such an area, with its ‘broken windows, is particularly vulnerable to the spread of crime and disorder.   When disorderly behavior remains unchecked, it goes on to become criminal. When police apply the ‘Broken Window’ theory to specific actions on the street, they aim to â€Å"elevate --- the level of public order† in the neighborhood (Kelling and Wilson, 1982). The role of the police is to maintain order. It is acknowledged that disorder and crime are interconnected in a community. The police’s role is founded on this link between order-maintenance and crime-prevention. Their role is based on the premise that â€Å"serious street crime flourishes in areas in which disorderly behavior goes unchecked† (Kelling and Wilson, 2, 1982). It is a reflection of the police’s role in earlier periods, when the main responsibility of the police was to maintain order. Actions such as keeping drinking away from the main intersections, questioning strange loiterers, preventing panhandlers and vagrants from bothering pedestrians and begging at bus-stops, keeping noisy teenagers in check, and settling disputes between customers and busi nessmen are geared towards the maintenance of public order. Arresting a single drunk or vagrant

Ethical Processes Within Companies Nike Essay Example | Topics and Well Written Essays - 1500 words

Ethical Processes Within Companies Nike - Essay Example Indera Nababan, the member of the Yakoma, a nonprofit organization in Indonesia, also said that the company pays the underaged employees with a basic minimum wage of 5,200 Indonesian rupiahs, equivalent to US $2.17, that is barely enough for them to survive and show up at work the next day. (Harsono, 1996) Another instance of the was seen in Cambodia where Nike, a company which offers millions of dollars worth of sponsorship deals, was caught having children, as young as 12 years old, as employees. These children were being paid a mere 31 pounds a month. This evidence was caught on tape by BBC journalists filming undercover at the Nike factory in Cambodia. Moreover, a child was found having false papers as a proof of age to get the job. (Johnson, 2000) In response to the allegations that were made regarding the underage employment in Indonesia, Phil Knight, CEO of Nike, declared a set of policies that were going to be adopted by Nike as code of conduct (Connor, 2001). These included setting a minimum age of 18 years for employment in the footwear factory in Indonesia. Also, the company promised to meet U.S. Occupational Safety and Health Administration’s (OSHA) standards in the work environment. Moreover, the employees were promised to be given education of high school equivalen t courses in the factories.These policies were enough to change the picture of child labor Indonesia. The decision of minimum age was widely considered to be a brave step by Nike to eradicate child labor, at least from its domain.Nike took another bold step and pulled out its factory in Cambodia after being stamped with the child labor scandal. Following the allegations, Nike management in Britain initiated

Business Strategy Essay Example | Topics and Well Written Essays - 3000 words - 2

Business Strategy - Essay Example Best cost strategy combines strategic emphasis on low cost as well as focused differentiation. It focuses on giving its customers more value for money. For E.g. Kingfisher Red Airlines is an example of best cost airlines providing luxury of Kingfisher Airlines but at comparatively lower price than that of competitors in luxury segment. The product line of company employing best cost strategy has products with appealing attributes and assorted upscale features. The aim of focused differentiation strategy is to secure a competitive advantage through offering customers of niche market with a product that they perceive as vary well suited to their needs, tastes and preferences. The strategic target of focused differentiation strategy is a narrow market in which needs and preferences of the buyers are distinctively different. Attributes appealing specifically towards niche members forms the basis of competitive advantage in focused differentiation strategy. B. Explain in detail, IKEA†™s hybrid strategy? IKEA used a mix of low cost and differentiation strategies as a part of its hybrid strategy. They used innovative means for attracting customers and people who can become there prospective customers in near future. The company tried to create differentiation in the retailing industry it operated in. It could be taken instance from the fact that the company allowed its customers to relax in its western style stores in a view that they could be aspiring customers of IKEA in near future. The production emphasis of products in focused differentiation strategy depends on customization meeting the tastes and requirements of targeted customers. The marketing emphasis of this strategy is towards communicating that how the product offers all the requirements in meeting buyers’ expectation in target market. Commitment in serving to niche markets better than rivals remains the key of sustaining the strategy. C. Why is IKEA’s hybrid strategy is difficult for competitors to imitate? Hybrid strategy is difficult for imitate and lend IKEA to outsmart competition. This is because through hybrid strategy IKEA is created a mix of two competitive strategies i.e. low cost and differentiation and the mix of these two strategies becomes difficult to imitate. D. Explain 3 business risks that IKEA faces in its hybrid strategy? The three business risks related to hybrid strategy are: These strategies could lack flexibility for IKEA in the scenario of changing external environment. These strategies could lack specificity in a long run for IKEA. Hybrid strategies help a company majorly when the organization has resources and capabilities of employing the strategy and serving an attractive niche market. Question 2 Provide the explanation with two examples in each of the 5 macro environmental influences that IKEA face from operating internationally? Macro-Economic Forces This includes forces at national and regional level that affects the company. IKEA is retail chain build on a global platform where factors like inflation rates, interest rate and current exchange rates in bear some impact, but such impact can’t be considered influential. As the interest rates are slashed as a result of recession in the economy, the company could borrow money at a cheaper interest rate. Same is the case with changes in current

Impact Of Product Bundling In Indian Retail Banking Marketing Essay

Impact Of Product Bundling In Indian Retail Banking Marketing Essay The retail banking is the growth trigger of the banks. Even though there is a phenomenal opportunities for growth in retail banking, the challenges are also daunting. Banks are struggling to retain its customers through retail banking. According to Reichheld research, a 5 per cent increase in customer retention can increase profitability by 35 per cent in banking business. The pervasive practice of bundling the products by banks, have built up so much momentum over the past few years in Europe, Asia and Pacific countries. The concept of product bundling is not widely used by Indian banks, since it is not legally accepted by RBI guidelines. Private sector banks are having this type of retailing products in non-core areas of banking. For example, ICICI bank is providing home loan insurance cover exclusively to its home loan customers with tie-up with ICICI Lombard insurance. Previous researches proved that bundling strategies not only retain the customers but also reduces the variable cost of the products. The primary purpose of the research is to find out the cause and effect of product bundling in financial quality system of banking. The retail marketing factors are measured with service marketing factors ie, product, price, promotion, place, process, physical evidence and person. The financial quality system is identified based on the CAMELS system ie., Capital, Asset quality, Management quality , Earning quality , Liquidity and Sensitivity to market risk. Primary data were collected from the 200 customers of ICICI Bank home loan borrowers. Cluster analysis is used to group them. The effect on financial quality is measured based on interview conducted among the 25 regional managers of the same bank. The results show that the retail marketing factors are having high impact on financial quality system. Hence product bundling concept balances the operational and financial risk to have financial sustainability in retail banking. Key words: Product bundling, CAMELS, Core banking. Introduction The banking sector has witnessed wide ranging changes under the influence of the financial Sector reforms initiated during 2009. The approach to such reforms in India has been one of gradual and non-disruptive progress through a consultative process. The emphasis has been on deregulation and opening up the banking sector to market forces. The Reserve Bank has been consistently working towards the establishment of an enabling regulatory framework with prompt and effective supervision as well as the development of technological and institutional infrastructure. Persistent efforts have been made towards adoption of international benchmarks as appropriate to Indian conditions. While certain changes in the legal infrastructure are yet to be effected, the developments so far have brought the Indian financial system closer to global standards. Banks are now moving towards Universal Banking, which is a combination of commercial banking, investment banking and various other activities includi ng insurance. Banks will need to create value in new ways, notably through differentiation on offers and services. Banks have to strengthen the added value they bring to clients by personalizing their customer approach and developing their advisory capacities.By international standards, however, there is still much scope for retail banking in India. After all, retail loans constitute less than seven per cent of GDP in India vis-à  -vis about 35 per cent for other Asian economies South Korea (55 per cent), Taiwan (52 per cent), Malaysia (33 per cent) and Thailand (18 per cent). is a likelihood that the growth numbers seem to get somewhat exaggerated. Hence there is a need of constant innovation in retail banking. This requires product development and differentiation, innovation and business process reengineering, micro-planning, marketing, prudent pricing, customisation, technological upgradation, home / electronic / mobile banking, cost reduction and cross-selling. Service bundling offers one me thod of cross-selling that places less of the burden on the bank employee who, despite training, often simply lacks the skills and/or motivation to be an effective salesperson, and more on the design and promotion of the product. Due to bundling of services and delivery channels, the areas of potential conflicts of interest tend to increase in universal banks and financial conglomerates. A product bundle as a bilateral contract must guarantee a possibility to obtain extra profit /or saving/ for each partner /bank versus customer/ at agreed price level /or discount/, but as well as both of them must accept some uncertainty or risk of lost. Bundling means offering two or more products together as a package.. Bundled accounts have built up so much momentum over the past few years that they have become a dominant focus of the retail operations at many banks. The practice is pervasive in the banking industry. Application of bundling strategies in retail banking reduces a banks variable cost for selling, secures both stable and higher income by periodical fees for covering high fix running costs as well. The biggest opportunity for current retail banking is building a strong relationship with customer by cross- selling extra bundled products, which leads to a higher retention and loyalty of customers. Empirical findings prove the paradox, that product bundles with discounted price for customer generate extra profit for bank, hand in hand with a still increasing customer satisfaction. Clever construction of bundles and bounded rationality decision making of customer offers a solution of profitable discounts not only for a banking sector, but at least for sector of services. According to a research by Reichheld and Sasser in the Harvard Business Review, 5 per cent increase in customer retention can increase profitability by 35 per cent in banking business, 50 per cent in insurance and brokerage, and 125 per cent in the consumer credit card market. Thus, banks need to emphasise retaining customers and increasing market share. Review The Dynamic Pricing and Product Bundling application standardizes a banks pricing and product bundling processes and allows the bank to reduce maintenance costs and increase its cross-sell opportunities(Morphy, 2006). The easiest way to retain the bank customers is to test the market by shuffling the existing product mix and creating new bundled offerings to optimize deposit growth (Barham, 2007). Clever construction of bundles and bounded rationality decision making of customer offers a solution of profitable discounts not only for a banking sector, but at least for sector of services.(Peter). The result is that customers generally get a superior annual percentage yield (APY), while the bank gets higher profit and volume. The secret by-product of bundling is the superior APY; it is what customers seek, it has the potential to drive balance with profitability, and it is a strategy largely overlooked by community banks. Concept of Product Bundling Product bundling is an intelligent strategy that is becoming increasingly popular in the banking sector. Banks offer multiple financial products and services to customers as a package. Bundling is generally recognized as a potentially appropriate means to tackle competition, to acquire new customers, to cross-sell new services to the existing customers and to retain the existing customers, who are getting increasingly savvy and sophisticated. Bundling helps to boost profits substantially by increasing the opportunity to cross-sell. It is also a great method for increasing the sales volume of products that are not in high demand. Bundling is not a new concept in retail banking. It has been existing for more than a decade-and-a-half, but there is a shift in focus now, as a result of which, it has gained popularity. Earlier, banks were mostly concerned with increasing the effectiveness of the use of its core banking products like current accounts and daily transaction-based activities. In the last few years, the priority has shifted to actively improving product penetration into the existing customer base, increasing sales by attracting new customers, innovating the product offerings, and lastly but most importantly, retaining and enhancing customer relationships and basing price reductions on the total volume and/or desired use of services. STANDARD CHARTERED Bank (SCB) is giving its Priority Banking customers up 12 per cent interest earnings through its latest wealth management offerings.In its new exclusive promotion, SCB Priority Banking customers will enjoy attractive interest rates on a Brunei Dollar fixed deposit when they invest in a unit trust at the same time. An intelligent pricing strategy that is becoming more and more popular in banking is bundling. One example is the NatWest package Advantage Gold. This bundle costs  £6 per month and combines a current account with lower interest rates for loans, rebates in certain insurance policies as well as various additional services such as lowest price guarantees for different articles, discounts for videos and DVDs, a customer magazine, commission-free traveller cheques, rebates for hotel stays, etc. In the Dutch market most cross selling in the consumer market is of a soft variety, that is, price inducements are offered to accept a bundle of services rather that exclusive tying arrangements. More often, bundle design decisions are based upon short term objectives such as attracting new customers, increasing fee income, or merely matching competitive offerings. There are two basic forms of bundling, pure and mixed. In pure bundling, the products or services cannot be purchased separately. They are available only in bundled form. In contrast, mixed bundling allows the consumer to purchase one or more of the services individually or to purchase the bundle Some examples of retail product bundles being offered by banks: If a customer maintains a defined amount of savings and has taken a defined amount of loan, then discounts are offered on interest rates, auto loans, free phone banking, counseling once-a-year, etc. Here again, there can be a tiered approach i.e. when balances/loan amounts increase, more discounts and additional free services are provided. Cluster analysis is used for classifying the consumer satisfaction variables into relatively homogeneous groups. The respondents were clustered on the basis of satisfaction level sought from the different attitudes under seven service marketing mix. The variables satisfaction levels are measured through five pointss summated rating scale i.e., strongly dissatisfied, dissatisfied, neutral, satisfied and strongly dissatisfied. The ratings are made as 1,2,3,4 and 5 respectively for each point. Product level satisfaction level is measured with the variables quality, scalability, multiplicity, reliability and security. Price level satisfaction is measured with the variables fair pricing, interest and transaction charges. Promotion level satisfaction is measured with the variables informative, awareness, receptive and attentive. Place level satisfaction is measured with the variables accessibility, convenience and diversified place. Process level satisfaction is measured with the variable s bundling, integration, processing time, and error-free process. Physical evidence (Documentation) level satisfaction is measured with the variables easy to go through, less documentation, unambiguous and legality. Person level satisfaction is measured with the variables involvement, technical support, friendliness and trust. The measure of similarity is measured by euclidean distance model. The reliability and validity of cluster analysis was done by making multiple runs using different order of cases. The clustering criterion was the Akaikes Information Criterion. The number of clusters was determined based on the minimum six-cluster solution. Based on the cluster group centroids of each service marketing mix, the level of satisfaction are labeled as impressive (>4), stirring (3.5 to 4.0), striking (3.0 to 3.5), modest (2.5 to 3.0,) un-impressive (2.0 to 2.5) and mediocre ( Two-group discriminant analysis is used to find out the disriminant factor among the existing customer and new customers using the product bundling . The independent variables are customer service level satisfaction variables i.e, product, price, promotion, place, process, physical evidence and person. The responses are rated based on the cluster centroid of each customer service level variables. The ratings for impressive, stirring, striking, modest, un-impressive and mediocre clusters are 6,5,4,3,2 and 1 respectively. The grouping variables are existing customer and new customers. Because there are two groups, only one discriminant function is estimated. The eigen value associated with this function is 1.64 and it accounts for 100 percent of the explained variance. The Wilks à « associated with this function is 0.312, which transforms to a chi-square of 32.45 with 7 degrees of freedom. This is significant beyond the o.o5 level. Hence null hypothesis is rejected. The structure matrix is displayed in Table-2. It appears that the existing and new customers are more widely separated in terms of price than that of other variables. The canonical correlation associated with this function is 0.783. The square of this correlation 0.61 indicates that 61% of the variance in the dependent variable is explained by this model. In 1995, RBI had set up a working group under the chairmanship of Shri S. Padmanabhan to review the banking supervision system. The Committee certain recommendations and based on such suggetions a rating system for domestic and foreign banks based on the international CAMELS model combining financial management and systems and control elements was introduced for the inspection cycle commencing from July 1998. It recommended that the banks should be rated on a five point scale (A to E) based on the lines of international CAMELS rating model. CAMELS evaluates banks on the following six parameters :- CAMEL approach will serve as an important. This will help lead to a low-cost high-quality result with secure profit levels. Capital Adequacy : Capital Adequacy is a measurement of a bank to determine if solvency can be maintained due to risks that have been incurred as a course of business. Capital allows a financial institution to grow, establish and maintain both public and regulatory confidence, and provide a cushion (reserves) to be able to absorb potential loan losses above and beyond identified problems. A bank must be able to generate capital internally, through earnings retention, as a test of capital strength. An increase in capital as a result of restatements due to accounting standard changes is not an actual increase in capital. Asset Quality : Asset Quality evaluates risk, controllability, adequacy of loan loss reserves, and acceptable earnings; and the affect of off-balance sheet earnings and loss. The quality of a banks assets hinges on their ability to be collected. Asset quality determines the portfolio quality, the portfolio classification system (aging schedule and the methodology to classifying a receivable) and the fixed assets (the productivity of the long-term assets, for instance the branch network). Management quality : Management quality envisages the strategic planning applied in each level of flow of funds. It is reflected by the ownership structure of the bank, branch network , loan portfolio management, credit administration, policy development, employee training, audit oversight, quality of governance and quality of information technology system Earnings : Earnings determine the ability of a bank to increase capital (through retained earnings), absorb loan losses, support the future growth of assets, and provide a return to investors. The largest source of income for a bank is net interest revenue (interest income from lending activity less interest paid on deposits and debt). The second most important source is from investing activity. A substantial source of income also comes from foreign exchange and precious metal trading, and commissions/transaction fees and trust operations. Liquidity : Liquidity measures the ability of a bank to meet the demand from demand deposits in a particular year. Liquidity is what a bank requires if funding is interrupted and the bank must still be able to meet certain obligations (banks ability to repay depositors and other creditors without incurring excessive costs). The liquidity is affected by the institutions liabilities, including their tenor, interest rate, payment terms, sensitivity to changes in the macroeconomic environment, types of guarantees required on credit facilities, sources of credit available to the institution and the extent of resource diversification. A banks least expensive means of funding loan growth is through deposit accounts. When this is not available, banks must rely on more expensive funding sources such as borrowing funds at wholesale rates or liquidating investment securities portfolios.

TapNet Business Plan Essays -- TapNet Business Management Essays

TapNet Business Plan TapNet Executive Summary TapNet.com (Trade Association Portal) represents a tremendous opportunity for it's directors, partners and potential stockholders. 1.1 The Opportunity The Internet and specifically business-to business applications are expanding at a tremendous rate. Many companies and associations are entering this portal area to provide valuable products services to the industry and generate economic profit at the same time. TapNet's Board of Directors saw this opportunity about year ago and has been fine tuning their concept and approach. Since this time, TapNet has moved forward and further developed the concept, gathered content and interacted with hundreds of potential customers around the world and gained their support. 1.2 The Application TapNet is more than a website or portal, it is an Internet based application that supports the trade association’s business operations, offers buyers and sellers the chance to find each other, interact and eventually purchase products and services on-line. TapNet provides these core competencies and capabilities to trade association, many of which could not afford these required business capabilities without TapNet as their provider. TapNet provides the foundation for a dominating site that drives the industry rather than just responding to it. TapNet plans to continue development of both its technology and the information resources it offers. This will be accomplished by developing buyer guide matrixes for associations to list their information, developing TapNet enabling features and functions, and by providing content and interaction that truly bring the trade association community closer together. TapNet will also provide a strong mar... ...nding Shares 3,850,000 Available to Public 4,000,000 40% Retained by Directors/Executives/Board 5,100,000 51% Remained authorized but unissued 200,000 2% Reserved for Stock Options for future employees 200,000 2% Total Shares Authorized 10,000,000 100% Use of Funds The capital raised during this offering will be used in the following ways: On-going Operations 12,288,701 Implement Technology Platform 2,187,556 Marketing Costs 260,000 Networks & Assets 4,474,800 Legal 20,000 Total Use of Funds 19,231,057 7.4 Investors Return Rate of Return over 4 years 226% 7.5 Exit Strategy Directors propose an outright sale of TapNet with in 48 months of launching offering. (1/2005)

Succubus Revealed Chapter 11

It was hard leaving Seth's side in the morning. We'd had too few nights together recently, and each day that passed only served to remind me I was that much closer to the transfer. Lying in his arms, watching him sleep in the early sunlight, I thought back to what he'd said about Andrea getting better. If that was true, if she was healing, then there was a chance the ties keeping Seth here might lessen. I felt selfish even thinking that way, but surely it wasn't too terrible a thing to wish we could all get a happy ending. After a leisurely breakfast, Seth and I went over to the Mortensens'. He was on babysitting duty while Andrea went to a doctor's appointment, and I was there to pick up Brandy. Chaos met us at the door, and Brandy practically flew outside, breathless and laughing. â€Å"Don't go in there,† she warned me, after I gave Seth a quick kiss good-bye. She and I headed toward my car. â€Å"It's crazy. Mom and Dad slept in, and Grandma let Kendall and the twins ‘help' with breakfast.† â€Å"What are they making?† â€Å"Waffles,† she said. â€Å"From scratch. I don't know which was scarier: Kendall mixing the batter or Morgan and McKenna on duty with the waffle iron. They set the smoke detector off twice.† I couldn't help but laugh as I pulled out of the driveway. â€Å"And you and Kayla didn't help?† â€Å"No way,† Brandy replied. â€Å"I stayed away from that mess, and Kayla was in one of her silent moods today.† â€Å"Aw.† I kind of wished now that I'd taken a moment to go inside. Tiny Kayla had a special place in my heart. Though she was better than she used to be, she still had a tendency to simply watch her world without a word, and it could be difficult coaxing conversation from her. Some of this was shyness, and some of this – I suspected – was from the fact that Kayla was psychic. Her skills were still undeveloped, but she was sensitive to the workings of the supernatural world, which I had to imagine would make anyone of any age silent at times. â€Å"She'll be fine. She loves waffles.† Brandy smiled, and I was happy to see her so upbeat for a change. She shouldered just as much stress as the adults. â€Å"If any actually get made.† We drove downtown, and I quizzed Brandy about what she was looking for in a dress. She had little to offer, which was both charming and kind of heartbreaking. Brandy wasn't a tomboy, but with all of her family drama, dresses had been understandably off her radar. In fact, when her face lit up at all the downtown lights and decorations, it became clear that family had really been the only thing in her life recently. â€Å"I haven't seen any of the holiday stuff this year,† she told me, gazing out the windows. A pang in my heart reminded me that this would be my last year to see Seattle in all its holiday finery. â€Å"We usually always come down here so that the girls can see Santa. There's been no time.† â€Å"The girls haven't seen Santa?† I asked, snapping out of my moment of self-pity. â€Å"That's not fair, especially considering I see a little too much of him.† It made me wonder how many drinks it would take to coax Walter into a house call. It also convinced me more than ever to make this a special day for Brandy. I couldn't expect her not to worry about her mom, but today, with Andrea on the mend and Seattle's shopping wonderland ready to explore, Brandy was entitled to worry just a little less than usual. She deserved to think about herself. I took her on a whirlwind tour of designer stores, chastising her for looking at price tags. I wanted this to be about more than the dress itself. I wanted her to have an experience, to feel like a princess. I made sure the salespeople were falling all over themselves to help her, which wasn't always so easy to do at such a busy time of the year. Brandy's radiant expression told me it was worth the effort, and we finally hit gold at our third store, finding what was unquestionably the dress. It was made of dark pink satin wrapped around to create a sheath silhouette that could still show off her figure without being pornographically tight. Satin flowers near the top added a whimsical edge, and the straps and knee-length made me feel it wouldn't get her kicked out of a church function. We spent the next hour finding the perfect shoes and jewelry for it, and although each new purchase clearly made her uneasy, she stopped questioning me about the cost. She didn't know about Margaret's f unding, but it had long since been spent. Exhausted and triumphant with our purchases, we went to lunch at an Italian restaurant frequented by other ladies of leisure. It was inside a larger, elegant shopping complex, and just as we were about to enter the restaurant, I saw a familiar face emerge from a nearby store. Something in my chest clenched, and I spoke before I could help myself. â€Å"Doug!† It took him a moment to figure out who'd called to him. When he did, a series of emotions played over his face. I wondered then how the encounter would have been different if Brandy hadn't been there. Would he have even acknowledged me? Maybe. Maybe not. But Brandy's presence guaranteed politeness. No matter how angry Doug might be at me, he wouldn't snub her. â€Å"Kincaid,† he said, strolling over to us. â€Å"And little Brandy. How's it going?† â€Å"Good,† she said cheerfully. The two of them, I realized, could have been related if Seth and Maddie had ended up getting married. The weird fallout from their breakup hadn't had as big an effect on Brandy as the rest of us, though, and she was genuinely happy to see him. â€Å"We're shopping.† He favored her with a smile, and I wondered if he was avoiding eye contact with me. â€Å"Last minute Christmas gifts?† he asked. â€Å"Not a chance,† I said. â€Å"This is all for Brandy. She's going to a dance tonight.† â€Å"Oh, I see how it is,† he said. â€Å"Getting ready to break some hearts for the holidays, huh?† She turned bright red. â€Å"No! It's at my church!† Teasing girls was familiar and easy territory for Doug. â€Å"Yeah?† he said, forcibly keeping a straight face. â€Å"Then why are you blushing? Church boys' hearts break just as easily as us sinners', you know. I'm sure you'll leave a trail of hundreds in your wake.† â€Å"No,† she protested. â€Å"Not hundreds – â€Å" â€Å"Just one?† he asked slyly. Brandy looked to me for help, and I laughed. â€Å"I knew there was someone.† â€Å"You guys are terrible,† she said, though she didn't look that upset. â€Å"Can I go put our name on the list?† â€Å"Sure,† I said, still laughing. But the instant she was inside the restaurant, Doug's playful manner vanished. â€Å"Well, I've got to go,† he said, starting to turn away. â€Å"Wait, Doug, I . . .† He looked back at me, but I was at a loss. What could I say? That I was sorry for sleeping with his sister's fiance? That I was sorry for lying to all of them and breaking her heart? How could you apologize for something like that? â€Å"It . . . it was good to see you,† I said at last. â€Å"You too,† he said, though he didn't sound convincing. He nodded toward the restaurant. â€Å"And her. I hope she has fun.† â€Å"Me too. She deserves it, what with everything else going on.† He had attempted to leave again, but my words made him pause. â€Å"How's her mom?† I shrugged. â€Å"Good days and bad days. It's up and down. . . . sometimes it seems hopeless, sometimes it's like everything's fixed. Wreaks havoc on everyone. . . . you just can't assume anything, you know? She's having some good days right now, but it's been a hard road for all of them. We just never know what's going to happen next and have to hang in there as best we can. I'm trying to help, but I don't know. . . . I don't feel like it's enough. But what could be?† I promptly shut up, realizing I was rambling. Doug said nothing, his dark eyes studying me for several heavy seconds. Then, his gaze shifted to Brandy, speaking to the hostess, for a few more moments before returning to me. â€Å"You're a good person, Kincaid,† he said softly. And this time, he did leave. Nothing else he might have said could have surprised me more. In all the imagined conversations I'd had with Doug, I'd expected frigid politeness at best – and that had seemed like a long shot. More often than not, I'd envisioned him telling me terrible, hurtful things, things I deserved. As much as a secret part of me yearned for him to forgive me so that we could be friends again, I really didn't think I deserved that forgiveness. I watched him walk away until Brandy stuck her head out from the restaurant door and called that they had a table. Despite how pensive my meeting with Doug left me, I was still able to enjoy the rest of the afternoon with Brandy. We were both in good spirits when we arrived back at the Mortensen home, and mine soared even higher when I saw Seth's car in the driveway. I hurried inside, eager to see him, only to have my mood shatter when I saw his face. Margaret and Terry wore similar expressions. Brandy, normally so observant, was too keyed up over her purchases to notice that there had been a significant mood shift in the house, compared to the bubbly chaos of this morning. â€Å"We had such a great time,† Brandy told them, face shining. â€Å"I got the best dress.† Margaret gave her a tight smile. â€Å"Why don't you try it on for us?† Brandy didn't need to be told twice, and Kendall and the twins followed her uproariously to the bedroom, offering to â€Å"help.† The instant they were gone, I turned to the adults. â€Å"What happened?† â€Å"Bad prognosis at the doctor's,† said Seth, when no one else spoke right away. â€Å"But she was improving,† I argued. I looked at them all for confirmation. â€Å"Right?† â€Å"We thought so,† said Terry. â€Å"At the very least, she seemed to be feeling better. But in these situations . . . well, cancer tricks you that way. It's why people go so long without ever knowing they have it. She woke up feeling bad this morning, and the doctor confirmed our fears.† I was kind of in awe at how calmly he managed to deliver that. I wasn't sure I could have without breaking down. Honestly, I didn't know how he'd been able to handle any of this with as much strength and determination as he had. If this were happening to the love of my life, I was pretty sure I'd crawl into in a corner and cry. Or would I? Looking at Seth, at those beloved features and compassionate expression, I suddenly knew that wasn't true. If the one I loved needed my strength, then I would give all I had within me. â€Å"We're not telling Brandy yet,† said Seth. â€Å"We're not going to keep it from her, but we figured it would be best to wait until after tonight.† I nodded slowly, having no words. I was usually so quick with a quip or soothing line, but what response could I make to that? Especially when, moments later, Brandy came bounding back down the stairs in the pink dress. Each twin held a shoe, and Kendall carried the glittering chandelier earrings we'd found just before lunch. I was reminded of Cinderella's mouse retainers. Brandy's tastes had been foremost in my mind while shopping, but I'd also had half an eye on what I thought her family would approve of in fashion. As she spun around for them, however, I realized it didn't matter. I could've brought her home in rags, and they would've loved it so long as she wore the look of radiance on her face that she did now. That was what sold it, one spot of pure joy in the dark cloud that kept hanging over this family. The adults were too overcome with emotion to speak, so Kendall did it for us. â€Å"Doesn't she look like a princess?† She kept trying to smooth nonexistent wrinkles out of the skirt, much to Brandy's dismay. â€Å"I want a dress like this.† Morgan sat down on the floor and tried to forcibly push the shoe on Brandy's foot while she still stood, furthering my Cinderella images. McKenna joined in as well, and both nearly succeeded in knocking their older sister over. â€Å"Well?† Brandy laughed. â€Å"What do you think?† â€Å"It's beautiful,† said Margaret. â€Å"You're beautiful,† said Terry. Having successfully dislodged the twins, Brandy stepped into the shoes, flushing under the praise of her family. â€Å"I hope I don't fall in these. How stupid would that look?† â€Å"I don't think anything could make you look stupid,† said Seth. â€Å"You're perfect from head to toe.† â€Å"Okay, you guys,† said Brandy, growing embarrassed. â€Å"Now you're just pushing it.† The â€Å"head to toe† comment suddenly reminded me of something. â€Å"Oh. I won't be here to do your hair. I have to go to work soon.† At that moment, calling in sick seemed like a reasonable idea. Nothing seemed more important than giving her a perfect night. â€Å"That's okay,† said Brandy. â€Å"I can do it. Or maybe Mom can.† â€Å"She's been kind of tired today,† said Terry neutrally. â€Å"But I know she'll want to see you before you leave.† â€Å"I can do a French twist,† said Margaret, surprising us all. â€Å"If you want to wear it up.† â€Å"Will you show me?† asked Brandy. Margaret nodded. â€Å"Sure, let's go upstairs.† Before they did, Brandy paused to give me a giant hug. â€Å"Thank you so much, Georgina. For everything.† They went upstairs, followed by the littler girls, all of whom thought there was nothing so wonderful as dressing up their older sister. Actually, I realized, that wasn't entirely true. Not all of them felt that way. â€Å"Where's Kayla?† I asked. She hadn't been in the entourage. Terry sighed and ran a hand through his hair, in a way similar to what I'd often seen Seth do. â€Å"In the living room, I think. She's been out of sorts today. Sometimes I think she can figure out what's going on, even when we don't tell her.† With Kayla's abilities, I didn't doubt it was true. I remembered Brandy saying Kayla had been in a â€Å"silent mood† since this morning and wondered just how much of her mother's illness the little girl was in tune with. I left the brothers to seek her out and found her curled up in a corner of the overstuffed sofa, making herself so small that she was almost lost in the cushions. â€Å"Hey, you,† I said, sitting down beside her. â€Å"How's it going? Don't you want to see Brandy's dress?† Kayla shifted her face, looking at me with huge blue eyes. â€Å"Georgina,† she said. â€Å"You have to make it stay away.† My thoughts were on the dress, so it took a moment for me to follow what she was saying. â€Å"Make what stay away, honey?† â€Å"The Darkness.† There was something in the way she said the word that let me know she wasn't referring to shadows. When she said â€Å"Darkness,† I could feel the personification in her word, the looming threat of something – or someone – tangible. With a pang, I remembered that Kayla had been able to sense Nyx when she'd escaped her angelic captors. I leaned toward Kayla, glad Seth and Terry were preoccupied. â€Å"Kayla, are you talking about . . . about the creature you felt before? The one you could sense on me?† Nyx's return would be a complication I most certainly didn't need in my life right now. She shook her head. â€Å"A different one. The Darkness comes here, to my house. To see my mommy. Will you make it go away?† â€Å"Is it here now?† I asked uneasily. â€Å"No. Just sometimes.† â€Å"How many times?† Kayla thought about it. â€Å"Two.† A cold feeling crept over me. â€Å"Was last night one of those times?† She nodded. â€Å"Have you seen it?† I asked her. â€Å"No. But I feel it. I can tell where it's at when it's here.† She peered at me beseechingly. â€Å"Will you make it stop?† I had no clue what this Darkness was or what I could do to stop it, but theories were running wild in my head. I kissed her forehead. â€Å"I'll do what I can, baby. I promise. I've got to leave now, but I'll see what I can find out for you, okay? We'll make sure the Darkness doesn't come back.† Like the flip of a switch, Kayla's whole demeanor changed. Whereas she'd been sad and withdrawn moments ago, she was now beaming and hopeful. All that faith – in me. With my empty assurance to take on something I didn't understand, she was able to put aside all of her fears and worries. All was right in her world now, thanks to me. She put her arms around me and kissed me back, and I felt like my heart would break when I finally untangled myself from her. Holiday cheer was calling, as well as a burning need to suddenly talk to Roman. Seeing as how we kept missing each other lately, I sent him a text with a reminder of when I'd be home tonight and that I had important information for him. He was so caught up in his conspiracy theories that I wasn't sure if he'd want to make time for what he'd probably see as a little girl's fantasies. Kayla's perceptions – despite her difficulties in articulating them – had proven accurate before. I didn't know what she was sensing this time, but if there was a force inside the Mortensen household, I intended to stop it.

Commercial aviation

Introduction Yield management can be described as the collection of processes, techniques used by airlines to make its customers pay as much as possible for their seats, while maintaining load-factor., (Alderighi et al, 2012). Mittal et al (2013) added that it has become near impossible to sustain a business without affective yield management, in particular when capacity is constrained. It was also noted that increased competition through low-cost carriers has created an environment where yield management must be monitored to ensure carriers can compete effectively on price, (Vila, 2011). This assignment will consider how airlines use yield management as a tool to meet management strategies, providing examples to support research. The strategies that emerge from this use will also be considered along with their effectiveness. The main strategy of the airline is to maximize revenue from its available inventory of stock (its seats). The strategy is to sell the right seats to the right people, (Kimes, 1989). The airline must find a trade-off between discounting its seat to increase sales and fill its inventory, while selling full-fare tickets to generate profits its operations, (Vila, 2011). Airlines Fixed Capacity The reasoning behind the need for yield management is the fixed capacity faced by airlines. Airplanes have a fixed capacity (seating) and so will attempt to generate the greatest income from the availability. Furthermore, airlines must also consider that their operations face a high-level of fixed costs in terms of staffing, fuel etc. Given this, the airline needs to manage capacity to ensure profitability, (Sheehan, 2013). The equation for yield management could be shown as: The formula above compares the revenue achieved with the maximum potential revenue. For example, take an aircraft with 200 seats, which could each sell for ?100, adding up to maximum potential revenue of ?20,000. However, the carrier has only sold 150 seats at an average of ?80 (total ?12,000 revenue) per seat given early discounts and last-minute offers. Given this, the equation will be: Market Segmentation With the above, airlines have generally been successful given their ability to segment the market with a number of strategies. Firstly, airlines have adapted their strategies to offer a number of ticketing options, allowing them to differentiate prices, also seen in the hotel sector in terms of room offering, Dunbar (2003). One main factor is flexibility; some consumers will prefer the lowest-cost ticket with non-cancellation or change, while some will be willing to pay more for the same seat given the flexibility to cancel/change their booking. Another example could be the timing of flights; some consumers will be willing to pay more for daytime flight than an overnight flight, while again, some consumers will be willing to pay more for a direct flight than a flight with numerous changes, (Shaw, 2012). However, airlines are able to use connection flights as a way to control inventory by flying consumers to a hub airport, where they can then fill up other flights capacity. For example, take a journey from London Heathrow to Tokyo; a consumer could either fly direct with British Airways for around ?900/ return or fly with Emirates, with a connection in their Dubai hub, for around ?650/ return, with Emirates benefitting from filling up inventory on its flights, (Expedia, 2014) [Online]. Finally, one the most common forms of segmentation is different ‘classes’ available on flights. While some of the cheaper airlines only offer standard class to focus on the price-sensitive consumers, major airlines have developed a number of classes to differentiate pricing. For example, a consumer could fly economy, premium economy, extra-legroom, business-class and first-class, which all over a slightly different service, allowing the airline to charge a different price as well as appealing to different customers, (Belobaba et al, 2009). Inventory To airlines, their inventory is their seat capacity, which could be seen as ‘perishable’ – if the plane departs with empty seats, the capacity is lost and no revenue can be derived. Again, this brings into question a trade-off, between selling advanced tickets at a lower price to ensure a desired ‘load-factor’, while also saving capacity in the hope that a higher-paying customer will purchase. This brings into question fluctuating demand by time and season. Yield Management may be used as a tool to smooth the demand pattern, which may see some airlines fares change by the hour/ day, (Alderighi et al, 2012). For example, an airline may increase its business class seats during the week, working hours; given the main demand for this offering will be business travelers, who would be more likely to make the booking during the working week. Furthermore, an airline may also increase its price during peak seasons, given the higher underlying demand, leading to increased revenue, which could then be used to support lower prices in the low season to entice customers. Airlines will respond to increased demand by upping prices; an example could be seen with flights from the UK to Brazil for the upcoming World Cup (Clarke, 2013) [Online]. According to Lufthansa Systems (2014: 1) [Online]: â€Å"Today’s airline business is evolving into a two-tier industry: global alliances are reaching worldwide coverage and no-frills carriers are gaining market share with a low-cost, point-to-point product.† No-Frills airlines increase competition The continued expansion of no-frills airlines coupled with the recent economic depression has combined to dampen demand for major carriers such as British Airways (BA), KLM on some routes, (Alderighi et al, 2012). This move has been supported by new, more fuel-efficient aircraft and also development of infrastructure, which has allowed these low-cost carriers to operate from new ‘hubs’, (Weiss, 2014) [Online]. For example, in London, the majority of major international carriers such as BA, Emirates, Virgin operate predominantly from London Heathrow, however, the development of Stansted airport has provide greater capacity for Ryanair and EasyJet, at lower costs, while the infrastructure development has allowed the airport to be a viable option for customers throughout London and the South, (Neufville, 2008). Closer Integration to Control In a bid to counter increased competition and improve capacity efficiency, airlines are continuing to integrate and form alliances, (Merkert, 2012). For example, BA recently merged with Spain’s Iberia, given it greater access to South American routes, (BBC Business, 2010) [Online], while also buying smaller regional UK carrier BMI, to take control over its Heathrow landing slots, (CAPA, 2013). Furthermore, BA is also part of the ‘OneWorld’ alliance, with other airlines such as American Airlines (AA) among others, (OneWorld, 2014) [Online]. Apart from OneWorld, Star-Alliance and SkyTeam are the other major alliances. These alliances allow airlines to share capacity, reducing the need for direct competition on a number of routes, which could then lower price. According to IATA (2013), customers now demand a ‘from anywhere to anywhere’ service, which is impossible for one airline to supply efficiently, increasing the need for connection flights and multiple carriers. On their own, few airlines would be able to generate the needed traffic to justify a daily non-stop service; furthermore some airlines may be constricted by availability of infrastructure and flight capacity, (CAPA, 2013). For example, take BA, the airline is currently restricted by capacity at Heathrow airport, which may restrict its opportunity to serve each US route; however through joining with AA in the alliance, BA could offer services a selected number of major US hubs, where AA could then fly customers onto their final destination, (Wu, 2014). This will also reduce the need for major capital deployment into new air craft from BA, BA could focus these resources on new routes and emerging markets for example. Research from Brueckner and Spiller (1994), Bailey and Liu (1995) and Brueckner and Whalen (2000) all concluded that consumers put great emphasis on price and network scope. Network scope is increasingly relevant for business travelers as globalization opens up new markets and opportunities, increasing the need for services to a wide range of destinations. Network depth, with a choice of convenient timings for travel, is also important for these passengers, (IATA, 2013). However, not all airlines have adopted alliances, instead moving on with major expansion plans, with the main example Emirates. The airline has increased its fleet in a bid to expand routes rapidly; however, this has been supported by major capacity at its Dubai hub coupled with a favorable location between the growing African and Asian markets. Furthermore, backing from Dubai, who are pushing to turn the emirate into a major tourism destination are supporting major capital outlays on new aircraft, also allowing the carrier to undercut on prices, (Arabian Money, 2013) [Online]. Technology Carriers can also use technology in a bid to aide yield management. For example, carriers can use a Computer Reservation System (CRS) to track purchases of seats in terms of time, price. As more sales move online and onto carrier websites, carriers will find it easier to track demand for their flights. With this information, carrier ay determine optimum times to sell higher-priced tickets or levels at which to discount to attract sufficient demand to fill the plane. Carriers could also utilse information from Global Distribution Systems (GDS) such as Galileo Desktop, which is: â€Å"Galileo Desktop is a sophisticated global reservation, business management and productivity system that gives you vast content options, accurate pricing capabilities, and highly capable booking tools.† (Travelport, 2014) [Online] These systems could be used along with information from Passenger Name Records (PNR) to analysis customer behavior and buying habits to ensure greater achieved revenue. For example, a carrier such as Ryanair may use the data to determine its optimal pricing, given the focus on price for low-cost airlines. This may prevent the carrier from over-discounting on tickets, increasing achieved revenue. The more information that a carrier can collect on customer behavior, the greater chance they have of determining a pricing strategy to achieve the greatest revenue, (Wensveen, 2011) Concluding Remarks From the discussion above, the issue of yield management has gained greater emphasis as the continued expansion of ‘No-Frills’ airlines and a more price-sensitive consumer have led to greater need to control costs. In a bid to control their revenue, airlines have adopted a number of methods, with market segmentation continuing to be a main point. Airlines have focused on splitting the market, offering new seat/booking options to justify a differing price; to add, with the deliveries of the new Airbus A380’s, a number of airlines are increasing the top-market offerings such as individual cabins and lay-down beds to increase revenue from the business/first-class segment, allowing them to compete more effectively for the price-sensitive consumer in economy class. Furthermore, airlines are now concentrating on joint ventures and alliances to further increase efficiency and reduce costs in a bid to maintain yields as increased competition put little potential for price increases. The discussion has shown that these ventures provide great potential for airlines when faced with capacity and infrastructure issues. References Alderighi, M, Nicolini, M and Piga, C (2012): Combined Effects of Load Factors and Booking Time on Fares: Insight from the Yield Management of the Low-Cost Airline, Italy, Italy, Fondazione Eni. Alderighi, M, Cento, A, Nijkamp, P and Rietveld, P (2012)1: Competition in the European aviation market: the entry of low-cost airlines, Journal of Transport Geography, 24, pp223-233. Arabian Money (2013) [Online]: Seat sale as Emirates expands aggressively for market share, Available at http://www.arabianmoney.net/business-travel/2012/02/08/seat-sale-as-emirates-expands-aggressively-for-market-share/, Accessed 04/03/2014. Bailey and Liu (1995): Airline Consolidation and Consumer Welfare, Eastern Economic Journal, 21 (4), pp10-24. BBC Business (2010) [Online]: British Airways and Iberia sign merger agreement, Available at http://news.bbc.co.uk/1/hi/8608667.stm, Accessed 04/03/2014. Belobaba, P, Odoni, A and Barnhart, C (2009): The Global Airline Industry, USA, Wiley. Brueckner and Spiller (1994): Economies of Traffic Density in the Deregulated Airline Industry, Journal of Law and Economics, 379. Brueckner, J and Whalen, W (2000): The Price Effects of International Airline Alliances, The Journal of Law and Economics, 43 (2), pp42-56. CAPA (2013): Heathrow Airports slot machine, UK, CAPA. Clarke, D (2013) [Online]: England fans warned to expect high-prices in Brazil, Available at http://www.direct-travel.co.uk/travel-insurance-news/england-fans-warned-to-expect-high-prices-in-brazil-801650475, Accessed 05/03/2014. 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Mittal, P, Kumar, R and Suri, P (2013): A Genetic Simulator for Airline Yield Management, International Journal of Engineering Research & Technology, 2 (9). Shaw, S (2012): Airline marketing and management, UK, Ashgate Publishing. Sheehan, J (2013): Business and Corporate Aviation Management: Second Edition, USA, McGraw Hill Professional. Travelport (2014): Galileo Desktop, Available at http://www.travelport.com/Products/Galileo-Desktop#, Accessed 04/03/2014. Vila, N and Corcoles, M (2011): Yield management and airline strategic groups, Tourism Economics, 17 (2), pp261-278. Voneche, F (2005): Yield Management in the Airline Industry, USA, Berkeley. Wensveen, J (2011): Air Transportation; A Management Perspective, London, Ashgate Publishing. Weiss, R (2014) [Online]: Lufthansa targets lower costs on new aircraft’s fuel use, Available at http://www.bloomberg.com/news/2014-01-10/lufthansa-targets-lower-costs-as-new-aircraft-help-savings-plan.html, Accessed 04/03/2014. 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