Essays --

In this paper I will be discussing the topic of if being a Leader is natural or if a Leader can be made. If leadership can be taught, there are several ideas that have to be done. First there would have to be leadership teachers, or people who have some sort of knowledge of leading and can teach this to others. Second, someone would need to want to learn and believe that leadership education can help them become a leader. In my opinion I believe a leader is born and is someone who just has the instincts to lead others or take charge of a situation. I believe that there are classes that can help people become more secure in interacting with others and working in certain situations that can help them manage, But when the going gets tough I think that someone that has just been taught certain traits will not be able to handle the heat. A Leader in my opinion just has the instincts to adapt to all situations and deal with it the best way possible. Some ideas that someone can become or be taught how to be a leader are that you just need the proper teachers or strategy, for example the U...

Reduce the Cost of Marker Making

RESEARCH REPORT HOW TO INCREASE THE EFFICIENCY OF MARKER MAKING AND DECREASE THE WASTAGE OF FABRIC? TEXTILE INSTITUTE OF PAKISTAN Shakaib Iftikhar (AMM-3) Tariq Zaib(AMM-3) Arsalan Javed(AMM-3) Faiza Noor (AMM-3) TABLE OF CONTENTS ABSTRACT4 INTRODUCTION5 OBJECTIVES6 SCOPE OF THE THIS RESEARCH6 LITERATURE REVIEW7 EXPERIMENTAL METHODOLOGY10 RESULTS11 DISCUSSION OF THE RESULTS14 CONCLUSION16 APPENDIXES†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦17 REFERENCES†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦18ACKNOWLEDGEMENTS I would like to acknowledge and extend my heartfelt gratitude to the following persons who have made the completion of this Lecture Notes possible: Our Research Teacher, Ma’am Rakshanda Shah,for her vital encouragement, support and teaching. Ma’am Nazia, our Institute Apparel Lab Assistant, for providing markers and patterns. Mr Gamini, Head of Apparel Department for the constant reminders and much needed motivation. Mr Pardeep from Eastern Garments for providing us the lab settings and inspiration he xtended. All the workers and staff of Eastern Garments who helped us in experimentations. Mr Lalith, Mr Salman and Mr Arsalan for assisting in the collection of the topics for the chapters. And Most especially to my family and friends. ABSTRACT Marker is a part of a paper on which the patterns of  all parts of the garments are drawn so that garments can be made by using minimum quantity of fabric. Reducing the quantity means that maker is being made efficient so that fabric wastage can be reduced as m uch as possible.There are two methods of marker making, the first one is manually in which a specialized marker maker makes the makers and try to utilize all the fabric so that another piece of fabric is not required. The other method is computerized method called Gerber Technology. In it the markers are made in computers and the efficiency is set by computer to decrease the fabric wastage. Saving the fabric is crucial because is decrease the average cost so that profit maximization can occur. After conducting experiments the best method for increasing the marker efficiency is Gerber (computerized).It makes the most efficient markers which decreases the wastage of fabric. This saves the cost and benefits the garment manufactures as they can make several pieces (patterns) out of less fabric. INTRODUCTION In recent years the number of markers required by apparel manufacturers has escalated disproportionately to growth. Orders are getting smaller, the number of different styles is incr easing, and lead times are getting shorter  Ã¢â‚¬â€œ all of which put more pressure on the marker making department. So it is no surprise that new automated marker making tools are being launched onto the market.Niki Tait takes a look. The improved fabric utilisation associated with computerised marker making has helped this technology virtually take over from traditional manual methods over the last 25 to 30 years. With fabric accounting for around 50 per cent of the ex-factory cost of a garment (more than 70 per cent in low cost labour countries), the 5 per cent saving associated with automated systems is key. In reality these marker making tools are ‘computer assisted' rather than ‘computerised,' with the skill of piece placement still relying on the experience of the marker maker.The computer plays a passive role, controlling the nesting constraints such as tilting, rotation and buffering while the operator makes all the decisions. An experienced marker maker will remember combinations which have worked before, he can see what part might fit into which slot, and he knows what he can tilt slightly off gain to fit. In the last few years, however, CAD companies and research organisations throughout the world have been working to develop systems to produce markers fully automatically.It's an extremely complex process given all the possible combinations of pattern part placements within a lay, and one that only becomes worthwhile if the material utilisation matches that produced by a skilled marker maker using conventional computer systems. It is only now becoming a viable option as the costs of high speed processing power and memory come down and software developments catch up. But for manufacturers the timing is a happy one as the number of markers – and cost of making them – has escalated disproportionately to growth.Orders are getting smaller, the number of different styles is increasing, and lead times are getting shorter â€⠀œ all of which put more pressure on the marker making department. With automatic marker making a series of parameters can be set. These include: produce the best possible solution in 30 minutes; try different combinations until a minimum of 91 per cent fabric utilisation is achieved; find the best combination within 500 tries etc. The system can be left to work through a batch of instructions unattended both day and night, so time constraints become less of an issue.With most automated systems, however, there is also the ability to combine human intervention within the automated process. Most CAD companies agree this provides for the best solution, particularly where the marker is going to be used for many repeats, on deep, long lays or where expensive fabrics are going to be cut. OBJECTIVES This research has several objectives which are beneficiary for number of reasons. The first objective of this research is to increase the production per hour by increasing the efficiency. Effic iency is directly related to production because if the marker is efficient, it can be easily layed out on he large bundles of fabric. Another objective is to increase the efficiency of the garment, when the marker made is good, the efficiency will increase and overall quality of the garment will be improved. It will also decrease the waste produced by the cutting department since with marker making technology, fabric will be properly utilized. One more major objective is to meet the international quality standards like for example ISO and etc. The objective goal of 83% percent efficiency which is the best in industries currently has to be met.This efficiency had to be tested on manual and computerized in order to find which gives the more efficiency and saves the fabric. SCOPE OF THE THIS RESEARCH One of the benefits of finding the efficiency was that the apparel industries require less labour to produce the garmants. The turnaround time of maker making is faster if done all at one time and pricewise, it will cost less money to manufacture a garment in apparel industries just by paying a flat rate for the whole process versus paying regular prize for each individual job.The markers can be fully customized to fit any costumer’s designing needs and are offered to apparel companies, Professional business people, Artists, People with new design inventions, young designers trying to launch for the first time a collection and people in  general who want to create a small clothing line to sell their designs on an online website store. Turn around time for most jobs done through marker making is faster than making each individual pattern made separately.An efficient marker coordinates and organizes all the work flow to be done for the costumer and spends a great deal of time explaining each little detail of the design process to its design team who will be in charge and responsible for the completion of a given project. Pricewise, making a garment through 83 percent efficient computerized marker will cost a lot less money versus paying five to ten thousand rupees for the making each single pattern by hand. This amount of money is often spend by manufacturing companies who have the obligation of aying all the salaries of their design team which can add up to thousands of rupees every week not forgetting the fact that paying regular prize for each individual pattern will always be more expensive than paying a flat rate for all the work to be done. In addition an efficient maker has many advantages, one of them is the ability to create many pattern and lay them on several fabrics in one location. This requires less space and the company can save its lot of space. Turnaround time for all pattern to be made are faster if done all at one time. LITERATURE REVIEWFor industrial garments preparation, marker making is a very important chapter for highest usage of fabric and for lowest wastage of fabric. This is a process which is performed to draw the pattern pieces on the fabric before cutting. This may be done by drawing the pattern pieces on the fabric directly or by drawing the pattern pieces on a thin marker paper and then placement the paper onto the fabric lay. So, we can define the marker as bellow. Marker is a thin paper which contains all necessary pattern pieces for all sizes for a particular style of garments in such a way that, fabric wastage would be least.The representation or drawing of the arrangement of identified garment pattern relevant to the cutting of a batch material. The marker is placed on the material and provides guideline for cutting. Marker may be on fabric or held in computer data files. Marker width is equal to the minimum fabric width and its length depends on the no of pattern sizes that will be drawn. Preparations of Marker Making Before the marker making, some preparatory processes would be followed. The processes are discussed ago (In preparatory processes chapter).Without those, some oth ers preparations are * Marking Grain Line : Before marker making, the grain line of pattern and fabric must be marked. * Fabric Measurement : Before marker planning, the fabric must be measured carefully. Because, marker width is relevant to the minimum fabric width. * Fabric Faults : Fabric faults would be also under consideration. In a fabric roll, where any faults found, that points must be avoided for quality production and to least the fabric wastage. * Cutting Table : Marker planner should consider the cutting table length before making marker.Marker length must be less than the cutting table length. Constraints of Marker Making During marker making, the work of the marker planner is subjected to a number of constraints. These relate to i. The nature of the fabric and the desired result in the finished garment. ii. The requirements of quality in cutting. iii. The requirements of production planning. The nature of the fabric and the desired result in the finished garment * Patt ern alignment in relation to the grain of the fabric, pattern pieces normally carry a grain line.When pattern pieces are laid down the piece of cloth, the grain line should lie parallel to the line of the warp in a woven fabric or the wales in a knitted fabric. Where pattern pieces are laid across the piece, the grain line should lie parallel to the weft or course direction. If the marker planner lays down a pattern outside the stated rules for grain lines, then the finished garment will not hang and drape correctly when worn. This requirement to follow the grain lines restricts the freedom of the marker planner in choosing how to lay the patterns in the marker. * Symmetry or AsymmetryMany fabrics can be turned round (through 180. ) and retain the same appearance are called symmetrical. They require no special attention during marker making. Asymmetrical fabrics are those which are turned (through 180. ) and do not retain the same appearance. Examples of such fabrics are pile which is brushed in one direction and which show different reflection of light. The marker should be planned in such a way that it is in accordance with symmetry, asymmetry of the fabric. All pattern pieces of a garment should be along the same direction when laid down on a symmetrical fabric. * Design characteristics of the finished garmentsIf a vertical stripe does not show a complete mirror image repeat, the right and left sides of a garment may be mirror images of each other. In this case, a pattern should be placed on checks in such a way that the design matches when sewing up. During marker planning, a marker maker must have to think about matching the checks and stripes in a garment. His freedom is restricted here. So I think it?  ¦s a constraints for a marker maker. The Requirements of Quality in Cutting * For majority of cutting situations where a knife blade is used, the placements of the pattern pieces in the marker must give freedom of knife movement.A blade, which has width , cannot turn a perfect right angle in the middle of pattern piece and space must always be allowed for a knife to turn such corners. The amount of space depends on the actual cutting method employed. * Pattern count check that the complete menu of pattern has been included. * Correct labeling of cut garments parts is essential to identify correctly the garment parts for whole garment sizes. It is the responsibility of the marker planner to code every pattern pieces with its sizes as the marker is planned. The Requirements of Production PlanningWhen an order placed for a quantity of garments, normally specifies a quantity of each size and colour. If the sewing room requires the cut work urgently, the marker may make two markers. 1. Short marker and 2. Long marker. * For long marker, it can be made according to the size proportion and different sizes. This process is very much efficient and takes more time and increased shade variation. * For short marker and for the particular order two marker can be made, this process is less efficient but takes less time and more production and small cutting table. For complex garments long markers generally offer more opportunities for savings than do short ones. * The more sizes that included in a marker, the greater are the scope for fabric savings. Greater fabric savings and after lower total cost would normally result, from cutting a stepped lay with paper markers on top. However, though for greater efficiency, a marker maker needs opportunity to work with freedom, but for maintaining proper quality some criteria must be followed. That is why there are some constraints of marker making. Methods of Marker Making There are two methods of marker making. i. Manual method. ii. Computerized method.Here marker is produced in two ways. 1. Marker drawn directly on fabric lay. 2. Marker drawn on marker paper. EXPERIMENTAL METHODOLOGY In order to find out which method gives near 83 % efficiency, the data collected was analyzed by the means of statistical mathematics. 5 samples had to be selected from each; 1. Manual Marker Making 2. Computerized Marker Making The computerized Marker making will be further tested using 7 different computerized machines for making markers. In total there were 5 samples from manual and 35 samples from Computerized Marker Making which means that there were total 40 samples of markers. 75 yards of fabric was used to lay markers on them. Each technique and machine was given 175 yards of fabric and the total fabric utilized was 7000 yards. The experiment was done 200 times in order to get 5 samples from each technique and method. In order to find out the efficiency, there is a formula which calculates it. The formula is Area of the patterns X 100 Area of the marker Out of 200 samples 40 samples were selected through simple random selection. 5 samples were selected from manual marker and 35 samples were selected from computerized marker making.After sampling the results were put in the table and the mean of efficiency was calculated for the left out samples in order to find out how much efficiency at max could be given. RESULTS The 5 selected samples from each method and technique were taken out and their efficiency was calculated. After getting their efficiency they were put in the table to find out the mean efficiency produced by them. MANUAL MARKER MAKING Sample 1 | Sample 2| Sample 3| Sample 4| Sample 5| 76. 56% | 78. 34%| 67. 66%| 61. 2%| 67. 3%| Mean efficiency of manual marker making= 70. 2 % Efficiency from manual marker making can be of maximum 70. % but the required efficiency is 83% which makes the saves the fabric most. COMPUTERIZED MARKER MAKING LECTRA Sample 1| Sample 2| Sample 3| Sample 4 | Sample 5 | 81| 80| 79. 9| 79. 7| 81. 3| Mean efficiency from Lectra = 80. 38% Efficiency from Lectra marker making can be of maximum 80. 38 % but the required efficiency is 83% which makes the saves the fabric most. COMPUTERIZED MARKER MAKING NESTER Sample 1| Sample 2 | Sample 3 | Sample 4| Sample 5| 78. 9 | 77. 7| 81. 2| 81. 3| 80. 18| Mean efficiency from Nester = 79. 85% Efficiency from Nester marker making can be of maximum 79. 5 % but the required efficiency is 83% which makes the saves the fabric most. COMPUTERIZED MARKER MAKING GERBER Sample 1| Sample 2| Sample 3 | Sample 4 | Sample 5| 85| 86| 82. 3| 83. 3| 83| Mean efficiency from Gerber = 83. 92% Efficiency from Gerber marker making can be of maximum 83. 92 % and the required efficiency is 83% which saves the fabric most and it means that Gerber met the required efficiency percentage. Sample 1| Sample 2| Sample 3 | Sample 4 | Sample 5| 82| 82. 2| 81. 37| 82. 67| 82. 73| COMPUTERIZED MARKER MAKING AUTOMATIC NESTER Mean efficiency from Automatic Nester = 82. 1%Efficiency from Automatic Nester marker making can be of maximum 82. 1 % and the required efficiency is 83% which saves the fabric most. COMPUTERIZED MARKER MAKING ASSYST BULLER Sample 1| Sample 2| Sample 3 | Sample 4 | Sam ple 5| 81| 79. 8| 81. 8| 81| 80| Mean efficiency from Assyst Bullmer= 80. 72% Efficiency from Assyst Bullmer marker making can be of maximum 80. 72 % and the required efficiency is 83% which saves the fabric most. Sample 1| Sample 2| Sample 3 | Sample 4 | Sample 5| 82. 33| 82. 23| 81. 36| 82. 90| 82. 88| COMPUTERIZED MARKER MAKING TUKATECH Mean efficiency from Tukatech = 82. 34%Efficiency from Tukatech marker making can be of maximum 82. 34 % and the required efficiency is 83% which saves the fabric most. DISCUSSION OF THE RESULTS Lectra Because material savings are a fundamental factor for every apparel firm, Lectra has spent the last 25 years developing solutions that apply state-of-the-art technology for material optimisation. Diamino V4 is its latest computer assisted version which, when combined with Expert V4, provides an automatic marker-making tool that can handle all kinds of fabrics and generate entire markers or complete partially operator-processed markers.Lectra says it s â€Å"intelligent software† takes into account the specific requirements of different garments, fabrics and pattern pieces. Gerber Technology Maximizing fabric utilisation is not the only consideration of marker making: the time it takes is increasingly important too. Gerber Technology has modified its AccuMark and Micromark software to allow parts to be rotated according to specified laying and style rules. The grain line deviation can also be defined. For the actual automation of the marker production its software has been integrated with Nester Server. NesterNester is available in two versions: NesterServer as an upgrade to CAD systems from Gerber, Assyst, Asahi, Toray, PAD and VetiGraph; and the Nester complete nesting system. This software tool automatically generates cost-effective markers for production, costing and engineering. It also combines automatic and semi-automatic options. The company claims Nester's return on investment is realised in under six months. Fab ric savings with automatic nesting Nester Inc offers this real-life example of a sportswear manufacturer cutting $30 million of fabric annually. Four production markers were given to Nester to process automatically.On average, Nester generated layouts that were superior to CAD-based manual results by 1. 05 per cent. The average length used in the four markers was 714. 21 cm with Nester and 721. 85 cm with traditional CAD-based manual nesting. On average, NESTER outperformed a CAD operator by 7. 64 cm, or 1. 05 per cent. If this saving were extended over the entire marker population in this factory, 1. 05 per cent fabric savings would equate to $315,000 per annum. Pad Systems Although Pad Systems' software integrates with Nester, it also has its own automatic marker making system.Within this, individual pattern pieces are directly related to the base pattern piece, so any changes to the pattern are automatically reflected in the marker. This feature is important in a fast changing fa shion industry where patterns may be modified several times throughout the development of a style. New markers are based on a similar, though previously manually made, marker of a comparable style and material. Thus Pad's automatic marker combines the original manual skill of the marker maker with the processing speed of the computer.This combination, the company explains, results in similar fabric utilisation but the new marker is achieved in a fraction of the time. Assyst Bullmer Assyst Bullmer no longer supplies automatic marker making software to its customers, explaining that automarker. com uses the most up-to-date software, is maintenance-free, and is available 24/7. On their own CAD systems customers define the width of marker, the sizes to plan and constraints such as whether rotation or twisting off grain is allowed. This is then sent to the website and the results download by the factory or sub contractor.Users include manufacturers in Eastern Europe where the comparable cost of manual lay planning on a CAD system would be low. Tukatech Tukatech's automatic marker making facility is called Nest ++ and is of particular use in helping cater for overload or rush orders, for large ratio markers and to estimate the best efficiencies on many fabric widths during pre-production. Efficiencies are said to be comparable to manually placing pieces in the CAD system (approximately 1 to 3   per cent difference). Users can start a marker with manual placement and Nest++ will finish the job automatically.Benefits are said to include increases in material efficiency with subsequent decreases in material waste, time and labour savings in making markers; improvements in overall marker quality; tighter markers; avoidance of backlogs during peak periods; and fast, precise cost proposals for clients. FINDINGS After experimentation the GERBER machine, is the best in reducing waste and giving the more efficiency. It is better to install Gerber rather than installing any other experimented CAD machine. Manual should be eliminated as the system is very faulty and old. CONCLUSIONIn manual system the system is used to make maker for garment making is traditional. But in CAD system marker making is done in modern system. Marker efficiencies are not visible in manual system. Other hand, marker efficiency is visible in CAD system. Marker length is not visible in manual system while Marker length is visible in monitor screen at CAD system. In manual, once marker is made, it is not possible to increase its efficiency. But in CAD it is possible to increase the efficiency at any time possible which means that fabric can be saved. In manual if the marker is layed, nothing can be done about it.Marker copying is not possible manually, so it is very time consuming to trace each and every other marker out there. In CAD, by using Plotter as much as possible copy can be done. Manual marker making is very time consuming method whereas, CAD is a faster method. In man ual system quality cannot be assured, sometimes markers can be good other times really faulty but in CAD, it has quality assurance. Even though manual system costing is low, CAD is expensive but the labour cost reduced saves cost in the long terms and since markers can be utilized again and again there is no special need of hiring a professional marker maker to make the atterns and lay them on fabrics. Out of all the CAD system Gerber turned out to be the best since it has an automatic efficiency calculator and it evens shows and tells that this much amount of fabric would be wasted if the efficiency percentage is low. Therefore, apparel industries are recommended to use Gerber as their primary source for making Patterns and makers. APPENDIXES 1. Marker Making Marker is a part of a paper on which the patterns of  all parts of the garments are drawn so that garments can be made by usingminimum quantity of fabric. 2. Marker EfficiencyThe efficiency of marker making means that how ef ficient it is in saving the fabric. 3. Computerized Marker Making Markers which are made through the means of Computer 4. Manual Marker Making Markers which are prepared manually by a trained professional 5. Laying The putting of patterns/makers on the bundles of fabric. 6. Plotter This is in computerized maker making. In plotter line diagrams of patterns or makers are drawn. REFERENCES 1. Garment Construction Skills (Premlata Mullick) 2. Apparel Manufacturing (Sewn Product Analysis) 3. Patternmaking for Gerber Technology (Helen Joseph-armstrong) 4. www. scribd. com/doc/61990320/Marker-Making

Application Of Situational Approach For Teaching...

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Selecting The Right Candidate For The Job Essay - 1547 Words

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The HR Manager must also look at the dynamics of the existing team and evaluate how the staff members work together, who fills each team role and if there is anything missing. The HR Manager must also determine the type of candidate that would be best suited for the business. This is a combination of personal characteristics and how he/she can contribute to the organization and the goals that the organization would like to accomplish. It is also about the values and ethos of the company and how employees are expected to promote or maintain that.Show MoreRelatedQuestions On Recruitment And Selection Criteria Essay1176 Words   |  5 Pagesprocess of finding one of the best qualified and experienced candidate for a job vacancy. 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Corporation Law Second Strike

Question: Discuss about theCorporation Law for Second Strike. Answer: Introduction The directors of the company have total powers to control the overall functioning of the company. However their powers have been limited by provisions of both statutory and common law in Australia[1]. This purpose of this paper is to analyze the powers and limitations of directors in relation to bonus shares and dividends. As the shareholders have been given a say by law towards the management of the company the directors try to please them with dividends and benefits which might not be beneficial for the company in order to attain personal interest. The remuneration of the directors can only be allowed if the report is approved by the shareholders. In the provided scenario it has been seen that the directors of Waldmart Ltd have taken the initiative to issue dividends and bonus shares to the shareholders after the first remuneration report has been rejected by them. The purpose of this paper is discuss the validity of such issues by the directors and on what grounds such issue can b e challenged by the shareholders. The paper also discusses the consequences which the board of Waldmart has to face in case the subsequent remuneration report is rejected causing a Second strike. This Section of the paper would analyze the validity of the issued bonus shares by directors and the grounds on which the issue can be challenged. Rules Share capital is usually paid, however the directors have the right to issue shares free of cost to the existing shareholders of the company if they think it is appropriate to do so. The shares which do not alter the capital of the company and against which no consideration is received are known as bonus shares. The provisions related to the issue of bonus shares by the directors are governed by both common law and statutory provisions. Section 124 of the CA provides exclusive powers to the directors of the company to issue shares. The power to issue bonus shares to the shareholders has been provided to the directors through Section 254A(1)(a) of the CA as per Section 124. Note 3 of the Section further provides that the directors do not need to show that the share capital of the company has increased in order to be able to issue bonus shares[2]. Bonus shares can only be issued out of profits and not for any other reason by the directors. The directors may be challenged legally if they issue bonus shares for reasons other than profits. When issuing bonus shares the directors need to assure that they do not indulge in any kind of insolvent trading. Directors can also be liable under directors duties if they fail to prioritize the companys interest over their personal interest[3]. The shareholders of the company have the right to legally challenge the decisions of the directors if they believe that the directors are not working in favor of the company. They have the right to exercise their powers by passing resolutions during general meetings[4]. The resolution must be validated by the shareholders by ensuring the presence of specified number of members. A resolution can be passed with more than 50% of the total votes and a special resolution can be passed with 75% of the total votes[5]. Application The directors of Waldmart have declared to issues bonus shares just after their initial remuneration report have been rejected by the shareholders. According to the shareholders the financial condition of the company may be affected if the bonus shares are issued by the directors. The shareholders believe that the issue of bonus shares is one of the most unnecessary steps during financially unstable times. In this case the directors of the company do not have the right to issue bonus shares in order to fulfill their own interest. Further the only motive behind the issue of the bonus shares in this case is to make the shareholders approve the subsequent remuneration report by the directors. Thus the shareholders not only have the right to go up against the judgment of the directors during the AGM but also they have the authority to bring proceedings against the directors for taking such an unwise decision. This Section of the paper would analyze the validity of the increased Dividends by directors of Waldmart and the grounds on which the increase in dividends can be challenged. Rules The directors of the company have ultimate power to decide the issue of dividends. It has been provided by Section 254U of the CA that dividends can be issued at the discretion of directors. The court ruled in the case of Burland v Earle [1902] AC 83 the court will not interfere with the powers of the directors in relation to the issue of dividends until there is fraud by them[6]. The court held in the case of Miles v Sydney Meat Preserving Company [1912] 12 NSWLR 98 that directors of the company are not allowed to increase or issue debentures against the interest of the company[7]. In the case of Sandford V Sandford Courier Service P/L [1989] 5 ACLR it was provided by the court that only when the company has been able to show excess profits can the directors of the company increase or issues dividends[8]. Section 254 T of the CA further provides that the directors will only be allowed to declare or increase dividends when they can show that the total assets of the company are more t hat its total liabilities[9]. The directors also need to prove that the dividends are reasonable and fair in relation to the shareholders of the company overall. One of the most important provisions provided by this Section is that the company does not suffer any damage to its position of paying its liability due to the issue or increase in dividends. Section 254s further provides that in case the divides make the company insolvent the directors of the company would be liable under Section 588G for insolvent trading. In the case of Re Spanish Prospecting Co Ltd [1911] 1 Ch 92 the court provided that dividends are entitled to be issued if the company makes profits[10]. Section 256 of the CA makes the directors liable if the dividends are paid for reasons other than profits. Application The directors of Waldmart have declared to increase dividends just after their initial remuneration report have been rejected by the shareholders. As discussed above the directors of Waldmart have discretionary powers to increase and issue dividends. However according to the cases and provisions discussed above they would only be able to increase of issue dividends in case Waldmart has earned excess profit. In this case there is no sign that the company has made excess profits. Further the only motive behind the increase in dividends in this case is to make the shareholders approve the subsequent remuneration report by the directors. The financial conditions of the market are not stable and the issue of dividends can also make the company insolvent. As ruled in the case of Re Spanish Prospecting Co Ltd the directors can directly be held liable for the issue of debentures without being able to show profits if the company faces looses because of such issues. The directors of Waldmart c an also be held liable under the provisions of Section 1324 and 256D for increasing the dividends of the company without showing excess profit. This Section of the paper analyses the position in which the directors of Waldmart Ltd would be in if the shareholders of the company decide not to vote in favour of the second remuneration report and cause a second strike. Rules The issue related to the remuneration of senior executives and directors of the company have been in under the decade for a few years. There have been significant changes related to the remuneration report of the directors after the inquiry of the productive commission into the matter[11]. The corporation act had been amended following the inquiry and the two strike rule was incorporated into it. Previously the vote of the shareholders in relation to the report was not binding but after the amendment the scenario has been changed considerably. According to the rules the directors and senior executives whose remuneration is to be discussed are not included in the voting process. In case the remuneration report does not receive 25% of the total votes casted at the AGM than it is the duty of the board of directors to address the comments of the shareholders in the next AGM[12]. However in case the remuneration report is not approved by at least 25% of the total votes at the next AGM and 50% of the total members cast their vote to support a spill resolution than the entire board of the company would have to undertake the process of re election. The shareholders are required to organize a meeting for the re election within 90 days from the date when the spill resolution had been approved[13]. In the meeting a re-election process would be initiated which the board of directors have to undergo. In case the directors of the company are removed from their positions as a result of the election it is to be ensured that the minimum legal directors required to manage a company remain as directors. The managing director is excluded from the process of election and the remaining two directors position is filled with those directors who receive the maximum number of votes during the election. In case two directors of the company get same number of votes than the remaining director or directors have the authority to decide which director would be chosen for the board. The directors can be chosen to fill the minimum number if if they do not receive more than 50% of the votes[14]. Application In the provided scenario the remuneration report which was published by the directors of Waldmart last year has been rejected by the shareholders. The report had failed to achieve minimum number of votes at the last AGM. The directors of the not altered the report according to the comments of the shareholders and moreover proposed to issue bonus shares and increase dividends in order to lure the shareholders to approve the initial remuneration report. In case the shareholders do not approve the second remuneration report and 50% of them vote in favour of a spill than as discussed above a spill resolution will be passed. In this spill resolution all directors of Waldmart have to go through a re-election process according to the wants of the shareholder. The spill meeting would have to be scheduled within ninety days from when the spill resolution had been passed. However all directors cannot be removed from their positions by the shareholders as a minimum of seven directors which are required for a public limited company have to be on board. As discussed above the directors who receive the maximum votes would be eligible for the position. Conclusion Concluding the paper based on the above analysis it can be held that the powers to issue bonus shares and increase dividends with respect to the directors of a company are not unrestricted. Although they can authorise the issue on their own discretion they have to follow the provisions of corporation act and common law to make their decisions. Dividends and bonus shares can only be issued out of profit and it has to be assured that such issue does not hamper the financial position of the company. The directors must also assure that the companys capacity of paying the creditors back is not hampered and the company does not become insolvent. Thus in this case they cannot issue bonus shares and increase dividends to fulfil their own interest. In case the directors call a second strike than all the directors of the company or the directors specified by the shareholders would go through a process of election. This step has been taken by the parliament in order to ensure the accountability of the companys directors towards its management. References Burland v Earle [1902] AC 83 Cassidy J., Corporations Law Text and Essential Cases. Federation Press, 4th edition Sydney 2013 Ciro T, Symes C, Corporations Law in Principle LBC Thomson Reuters, Sydney, 9th edition 2013 Corporation Act 2001 (Cth) Davenport, S and Parker D, Business and Law in Australia, Thomson Reuters, 2012 Fisher S, Anderson C, Dickfos, Corporations Law - Butterworths Tutorial Series, 4th Edition Butterworths, Sydney 2014 Fitzpatrick, Symes, Veljanovski, Parker, Business and Corporations Law; LexisNexis 3rd edition 2017 Graw, Parker, Whitford, Sangkuhl and Do, Understanding Business Law 7th ed LexisNexis Butterworths, 2015. Hanrahan, P., Ramsay I., Stapledon G., Commercial Applications of Company Law. Oxford 18th edition 2017 Miles v Sydney Meat Preserving Company [1912] 12 NSWLR 98 Parker, Clarke, Veljanovski, Posthouwer, Corporate Law, Palgrave 1st edition 2012 Re Spanish Prospecting Co Ltd [1911] 1 Ch Sandford V Sandford Courier Service P/L [1989] 5 ACLR

Markeing Managment Essay Example

Markeing Managment Paper Marketing Management Knowledge and Skills Tenth Edition J. Paul Peter University of Wisconsin-Madison James H. Donnelly, Jr. / University of Kentucky Me Graw Hill McGraw-Hill Irwin Contents SECTION 1 ESSENTIALS OF MARKETING MANAGEMENT 1 Processing of Research Data 3 7 Preparation of the Research Report 38 Limitations of the Research Process 38 Marketing Information Systems Conclusion 41 40 PART A INTRODUCTION 3 Chapter 3 Consumer Behavior 42 Chapter 1 Strategic Planning and the Marketing Management Process 4 The Marketing Concept 4 What Is Marketing? What Is Strategic Planning? Social Influences on Consumer Decision Making 43 Culture and Subculture 43 Social Class 44 Reference Groups and Families 6 45 6 Strategic Planning and Marketing Management The Strategic Planning Process 7 The Complete Strategic Plan 16 Marketing Influences on Consumer Decision Making 45 Product Influences 45 Price Influences 45 Promotion Influences 46 Place Influences 46 20 The Marketing Management Process 16 Situation Analysis 16 * Marketing Planning 19 Implementation and Control of the Marketing Plan Marketing Information Systems and Marketing Research 21 Situational Influences on Consumer Decision Making 47 Psychological Influences on Consumer Decision Making 47 Product Knowledge 47 Product Involvement 48 The Strategic Plan, The Marketing Plan, and Other Functional Area Plans 21 Marketings Role in Cross-Functional Strategic Planning 21 Consumer Decision Making Need Recognition 49 †¢ Alternative Search 50 Alternative Evaluation 51 Purchase Decision 51 Postpurchase Evaluation 52 48 Conclusion 22 Appendix Portfolio Models 25 PART B MARKETING INFORMATION, RESEARCH, AND UNDERSTANDING THE TARGET MARKET 29 Chapter 2 Marketing Research: Process and Systems for Decision Making 30 The Role of Marketing Research 30 The Marketing Research Process 31 Purpose of the Research 31 Plan of the Research 32 Performance of the Research 37 xii Conclusion 54 Chapter 4 Business, Government, and Institutional Buying 55 Categories of Organizational Buyers Producers 55 Intermediaries 56 Government Agencies 56 Other Institutions 56 55 The Organizational Buying Process 56 Purchase-Type Influences on Organizational Buying 57 Straight Rebuy 57 Contents Modified Rebuy 57 New Task Purchase 5 7 xiii Structural Influences on Organizational Buying Purchasing Roles 58 Organization-Specific Factors 59 Purchasing Policies and Procedures 59 58 Chapter 7 New Product Planning and Development 98 New Product Strategy 99 New Product Planning and Development Process 101 We will write a custom essay sample on Markeing Managment specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Markeing Managment specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Markeing Managment specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Behavioral Influences on Organizational Buying Personal Motivations Role Perceptions 60 60 60 Stages in the Organizational Buying Process Organizational Need 63 Vendor Analysis 63 Purchase Activities 63 Postpurchase Evaluation 63 62 Idea Generation 101 Idea Screening 103 Project Planning 104 Product Development 105 Test Marketing 105 Commercialization 106 The Importance of Time 106 Some Important New Product Decisions Quality Level 107 Product Features 108 Product Design 108 Product Safety 109 107 Conclusion 65 Chapter 5 Market Segmentation 66 Delineate the Firms Current Situation 66 Determine Consumer Needs and Wants 67 Divide Markets on Relevant Dimensions 67 A Priori versus Post Hoc Segmentation 68 Relevance of Segmentation Dimensions 68 Bases for Segmentation 69 Causes of New Product Failure Needfor Research 109 109 Conclusion 111 Develop Product Positioning 75 Decide Segmentation Strategy 76 Design Marketing Mix Strategy 77 Conclusion 78 Chapter 8 Integrated Marketing Communications Strategic Goals of Marketing Communication Create Awareness 112 Build Positive Images 112 Identify Prospects 112 Build Channel Relationships Retain Customers 113 112 112 PARTC THE MARKETING MIX 79 Chapter 6 Product and Brand Strategy Basic Issues in Product Management Product Definition 80 Product Classification 81 Product Quality and Value 82 Product Mix and Product Line 83 Branding and Brand Equity 84 Packaging 88 113 The Promotion Mix 113 Integrated Marketing Communications 114 Advertising: Planning and Strategy 116 80 80 Objectives ofAdvertising 116 Advertising Decisions 16 The Expenditure Question 117 The Allocation Question 120 Sales Promotion 124 Product Life Cycle The Product Audit 90 93 Push versus Pull Marketing 124 Trade Sales Promotions 125 Consumer Promotions 126 What Sales Promotion Can and Cant Do 126 Product Adoption and Diffusion 93 95 Deletions 93 Product Improvement Organizing for Product Management Conclusion 97 95 Public Relations 128 Direct Marketing 128 Conclusion 129 Appendix Major Federal Agencies Inv olved in Control of Advertising 131 xiv Contents Chapter 9 Personal Selling, Relationship Building, and Sales Management 132 Importance of Personal Selling 132 The Sales Process 133 Objectives of the Sales Force 133 The Sales Relationship-Building Process 134 People Who Support the Sales Force 140 Managing the Sales and Relationship-Building Process 141 The Sales Management Task 141 Controlling the Sales Force 142 Motivating and Compensating Performance 146 Conclusion 146 Estimate Costs and Other Price Limitations 170 Analyze Profit Potential 171 Set Initial Price Structure 171 Change Price as Needed 172 Conclusion 172 PARTD MARKETING IN SPECIAL FIELDS 173 Chapter 12 The Marketing of Services 174 Important Characteristics of Services 176 Intangibility 176 Inseparability 177 Perishability and Fluctuating Demand 178 Client Relationship 178 Customer Effort 179 Uniformity 180 Providing Quality Services 180 Customer Satisfaction Measurement 182 The Importance of Internal Marketing 182 Overcoming the Obstacles in Service Marketing Limited View of Marketing 184 Limited Competition 184 Noncreative Management 185 No Obsolescence 185 The Service Challenge 186 Banking 186 Health Care 186 Insurance 187 Travel 187 Implications for Service Marketers 188 Conclusion 189 Chapter 10 Distribution Strategy 148 The Need for Marketing Intermediaries 148 Classification of Marketing Intermediaries and Functions 148 Channels of Distribution 150 Selecting Channels of Distribution 151 Specific Considerations 151 Managing a Channel of Distribution 154 Relationship Marketing in Channels 154 Vertical Marketing Systems 154 Wholesaling 157 Store and Nonstore Retailing 15 8 Store Retailing 158 Nonstore Retailing 159 Conclusion 162 184 Chapter 11 Pricing Strategy 63 Demand Influences on Pricing Decisions 163 Demographic Factors 163 Psychological Factors 163 Price Elasticity 164 Supply Influences on Pricing Decisions 165 Pricing Objectives 165 Cost Considerations in Pricing 165 Product Considerations in Pricing 167 Environmental Influences on Pricing Decisions Competition 168 Government Regulations 168 A General Pricing Model 169 Set Pricing Objectives 169 Evaluate Product-Price Relationships 169 Chapter 13 Global Marketing 190 The Competitive Advantage of Nations 191 Organizing for Global Marketing 192 Problems with Entering Foreign Markets 192 Organizing the Multinational Company 195 Programming for Global Marketing 197 Global Marketing Research 197 Global Product Strategy 200 Global Distribution Strategy 200 Global Pricing Strategy 201 Global Advertising and Sales Promotion Strategy 201 Entry and Growth Strategies for Global Marketing 202 Conclusion 205 168 Contents xv SECTION 2 ANALYZING MARKETING PROBLEMS AND CASES 207 A Case Analysis Framework 208 1. Analyze and Record the Current Situation 209 2. Analyze and Record Problems and Their Core Elements 213 3. Formulate, Evaluate, and Record Alternative Courses ofAction 214 4. Select and Record the Chosen Alternative and Implementation Details 215 Pitfalls to Avoid in Case Analysis 215 Communicating Case Analyses 218 The Written Report 218 The Oral Presentation 220 Conclusion 220 Exercise 7 238 Pricing Issues on the Internet 238 Exercise 8 238 Selecting the Internet as a Distribution Channel 238 Exercise 9 239 Internet Advertising 239 Exercise 10 239 The Adaptation of Services to the Internet 239 Exercise 11 240 Marketing Communications Techniques in the Internet Age 240 INTERNET SOURCES OF MARKETING INFORMATION 241 Charles Heath: Eastern Kentucky University Corporate Web Sites 242 Search Engines and Directories 242 Government Sites 243 Business Publications 243 Newspapers 244 National Papers 244 Large City Papers 244 International Papers 245 Regional Papers 245 General Business Sites 245 Internet Marketing Reference Sites 246 Compilation Sites 246 SECTION 3 FINANCIAL ANALYSIS FOR MARKETING DECISIONS 221 Financial Analysis 222 Break-Even Analysis 222 Net Present Value Analysis 224 Ratio Analysis 226 Conclusion 230 SECTION 4 INTERNET EXERCISES AND SOURCES OF MARKETING INFORMATION 231 PART A INTERNET EXERCISES 233 Charles Heath: Eastern Kentucky University Exercise 1 234 Corporate Web Sites 234 Exercise 2 234 Online versus Offline Retail Experiences 234 Exercise 3 235 Consumer Decision-Making Process 235 Exercise 4 236 Discovering Product Assortments Online 236 Exercise 5 236 Brand Equity on the Internet 236 Exercise 6 237 The Impact of Communities on Marketing 237 5 MARKETING MANAGEMENT CASES 247 MARKET OPPORTUNITY ANALYSIS 249 Case! McDonalds Corporation 250 I Paul Peter and Ashish Gokhale: University of Wisconsin-Madison Case 2 Southwest Airlines 2008 257 Andrew C. Inkpen: Thunderbird School of Global Management xvi Contents Case 3 South Delaware Coors, Inc. CASE GROUPC 271 PROMOTION STRATEGY 373 James E. Nelson and Eric J. Karson: University of Colorado Case 4 Ruths Chris: The High Stakes of International Expansion 280 Allen H. Kupetz and lion Alon: University of Western Ontario Case 5 Coach Inc. : Is Its Advantage in Luxury Handbags Sustainable? 287 John E. Gamble: University of South Alabama Case 6 Panera Bread Company Case 12 The Obama Campaign Strategy 74 Dan Tolhurst and Mark Vandenbosch: University of Western Ontario Case 13 Mountain Dew: Selecting New Creative 383 Douglas B. Holt: Oxford University Case 14 Red Bull 400 302 Arthur A. Thompson: University of Alabama Richard R. Johnson, Jordan Mitchell, Paul W. Farris, and Ervin Shames: University of Virginia Case IS Hips Feel Good—Doves Campaign for Real Beauty 414 David We sley: Northeastern University CASE GROUP B PRODUCT STRATEGY Case 7 Starbucks—Early 2008 319 320 J. Paul Peter: University of Wisconsin-Madison Case 8 Your Home is a Good Place, Inc. CASE GROUP D DISTRIBUTION STRATEGY 429 25 Case 16 IKEAs Global Strategy: Furnishing the World 430 . Paul Kolesa Kevin Coulson and Zane Swanson: University of Western Ontario Case 9 easyCar. com 332 Case 17 Pets. com Inc. : Rise and Decline of a Pet Supply Retailer 438 Omar Merlo: University of Western Ontario Case 18 The Challenges Facing eBay in 2008: Time for a Change in Strategy? 453 Louis Marino: University of Alabama Patrick Kreiser: Ohio University John J. Lawrence: University of Idaho Luis Solis: University of Idaho Instituto de Empresa Case 10 The Launch of the Sony PlayStation 3 David Wesley and Gloria Barczak: Northeastern University Case 11 Snacks to Go 41 356 JoAnn K. Linrud: Central Michigan University Contents xvii Case 19 SECTION 6 STRATEGIC MARKETING CASES 587 Case 1 Wal-Mart Store s Inc. in 2008: Managements Initiatives to Transform the Company and Curtail Wal-Mart Bashing 479 Arthur A. Thompson: University of Alabama Yum! Brands, Pizza Hut, and KFC 589 Jeffrey A. Krug: Appalachian State University CASE GROUP E PRICING STRATEGY 519 Case 20 Case 2 Caterpillar, Inc. 603 Schwinn Bicycles 520 J. Paul Peter: University of Wisconsin-Madison Sara L. Pitterle and J. Paul Peter: University of Wisconsin-Madison Case 21 Terra Bite Lounge: Pay What You Want Cafe^ 523 Remi Trudell: University of Western Ontario Case3 EMR Innovations 615 Kay M. Palan: Iowa State University Case 4 Case 22 Cowgirl Chocolates 527 Harley-Davidson, Inc. —Motorcycle Division 626 J. Paul Peter: University of Wisconsin-Madison John J. Lawrence, Linda J. Morris, and Joseph J. Geiger: University of Idaho Case 23 Case 5 Clearwater Technologies7 540 Susan F. Sieloff and Raymond M. Kinnunen: Northeastern University PepsiCos Diversification Strategy in 2008 639 John E. Gamble: University of South Alabama Case 6 CASE GROUP F Social and Ethical Issues in Marketing Management 545 Case 24 E. J. Gallo Winery (2007) Expresso Espresso 656 Calvin M. Bacon, Jr. : University of South Alabama 546 Case? Respironics, Incorporated: Take a Deep Breath 678 Janet L. Rovenpor: Manhattan College Armand Gilinsky, Jr. : Sonoma State University Marion Armstrong, Taylor Green, and A. J. Strickland III: University of Alabama Case 25 Abercrombie Fitch: An Upscale Sporting Goods Retailer Becomes a Leader in Trendy Apparel 563 Janet Rovenpor: Manhattan College CaseS Research In Motion—Entering a New Era 700 Sofy Carayannopoulos: Wilfrid Laurier University xviii Contents Case 9 Krispy Kreme Doughnuts in 2005: Are the Glory Days Over? 723 Arthur A. Thompson, Jr. : University of Alabama Amit J. Shah: Frostburg State University Case 10 Table of Contents 786 Introduction 786 Situational Analysis 786 Marketing Planning 786 Implementation and Control of the Marketing Plan Summary 790 Appendix—Financial Analysis 790 References 793 788 Dell Inc. in 2008: Can It Overtake Hewlett-Packard as the Worldwide Leader in Personal Computers? 748 Arthur A. Thompson, Jr. : University of Alabama John E. Gamble: University of South Alabama Conclusion 793 Notes 795 Index 802 SECTION 7 Developing Marketing Plans 783 A Marketing Plan Framework Title Page 785 Executive Summary 785 784