Research Korner

Financial Management: Hong Kong Hospital Authority

Financial Management: Hong Kong Hospital Authority   Executive Summary             The main goal of this paper is to conduct business case analysis on the proposed approach of HA to reduce the cost of hospital fee by the government, specifically for those patients who are suffering from cellulites who need intravenous antibiotic everyday.  In this regard, the discussion involves the analysis of the potentials of this new financial management approach using different techniques such as Stakeholder’s analysis, PESTLE analysis and Forced Field Analysis. In terms of financial aspects, this report has been able to use Cost Benefit Analysis of the said venture. Further, this case also provides some important details on this can be done through various options.  The analysis have found out that with the objective of the hospital to reduce the hospital fee for patients with cellulites they must be able to know what option to use and that is by collaborating with other agencies to help them shoulder the cost or assist them.   Introduction             A business analysis is an essential tool to enable the company to evaluate the viability of starting a new management venture. It gives essential information required to make the critical decision of whether to go forward with the new approach or not. The main goal of the analysis is to ensure that the institution is on the right track.  The aim of this analysis is to make sure that the firm will be able to identify or not to proceed with a project and to identify any important risks associated with the project. The feasibility of this new organisational venture can be ascertained in line with the technical aspects, economic aspects or both. On one hand, a business case approach is documented with a report that shows the entire ramifications of the project. It is a preliminary analysis conducted before real work of a project begins to ensure the likelihood of the project’s success. Such type of study enables the institution in finding alternative solutions to a certain issue and presents recommendation on the best alternative (Shaw, 2001). In establishing a new project, one of the most essential business aspects that should be considered is the financial capabilities of the organization. In this particular report, being able to recognize the needs of Hospital Authority of Hong Kong to meet the needs and improve the hospital environment by reducing the burden of costs shouldered by the government in terms of caring with patients having cellulites, the HA is trying to do it by considering various options. The following are the considered options. o   Seek the cooperation of the patient and let them attend AED once daily until the session is finished o   Encourage the patients to avail private hospitals service and let them should the cost of their treatment. o   Engaging with other institution which will help patients and governments in reducing the cost that their allocate for patients with cellulites.   In this regard, the third option which is s by seeking the help of other institutions who will should half or even the entire fee of the patient with this sickness is being chosen. In this regard, the goal of this study is to provide a clear financial project plan for the proposed options in solving the issue of cost reduction. This report will provide a discussion will include the analysis of the current environment of HK in terms of health and social contexts and to provide ways on how this service would be pursued in terms of financial aspects.   Overview of the Service             The case was about the financial analysis for considering various options on how to reduce the cost of the hospital feel for patients with cellulites. .  It can be said that this is one of the growing problems among individuals in HK. In Hong Kong, hospitals has been able to realized the need for reducing the cost of hospital fee for these patients, they are still having problems on which approach to use that will be beneficial for the patient and the government and hospital. Basically, the reduced cost of hospital fee that government is allocated with these patients will be a big help for the government because the finances that they will save from this will benefit other patients.  The service will be implemented in the hospitals in Hong Kong Hospital Authority.             Analysis of the Proposed Service Extension             In the proposed reduction of cost for hospital fee, it is important to analyze the market environment of the said service portfolio to determine the potentials of the proposed service. In this regard, the market environment will be analyzed using some tools like stakeholder’s analysis, PESTLE analysis and Force Field analysis.                         Stakeholder analysis             In order to have an effective implementation of the new approach used by HA to reduce the cost provided with the patient having cellulites   it is essential to analyze the stakeholders who will be active or involved in this project. The main goal of this analysis is to identify who among the stakeholders will have high and interest on the problem, which will have the authority to influence others for the new approach used by HA to reduce the cost provided with the patient having cellulites. Further, this stakeholder analysis also aims on identifying who are the subjects, players, bystanders and actors involved in the new approach used by HA to reduce the cost provided with the patient having cellulites. The stakeholder analysis will be discussed using the stakeholders’ grid.   Figure 1 Stakeholder Grid     HIGH     INTEREST   Patients with cataract, most especially older patients         Health care providers, community or local government and federal government Non-government organization, volunteer groups, media, Educational organization       Relatives Parents Youth           Community or local healthcare providers, Department of health and federal government International Institution   LOW   POWER/INFLUENCE HIGH     In this proposed service extensions the potential stakeholders include the hospital administration, community health organizations, HK government, the cataract patients, funders and HK government health regulators and policy makers. Accordingly, various stakeholders have varying amounts and kinds of power, and those with the greatest influence shape a strategy from a number of specific decisions (Shafritz & Ott, 2001). Stakeholders are given the outmost authority in any business setting, like in this case the implementation of the new service for the new approach used by HA to reduce the cost provided with the patient having cellulites. Their power and importance is beginning to gain slighter advantage when compared to an organization’s management team. Stakeholders provide a diverse influence to both kinds of organizations and they guide the people in the organization so that the goals will be met. In this regard, the stakeholders for this proposed service extension can be considered as significant for the decision making of pursuing new service of the new approach used by HA to reduce the cost provided with the patient having cellulites in one of the hospitals in Hong Kong Hospital Authority. According to Johnston & Clark (2001), product and service design involves translating stakeholder needs into service requirements, formulating quality goals and cost target, documenting specifications, refining existing products and services, and developing new ones as well.  With these, stakeholder analysis, the hospital management can be able to modify the new approach used by HA to reduce the cost provided with the patient having cellulites to meet the needs and demands of the stakeholders and most especially the patients.               PESTLE Analysis             The environment for the new approach used by HA to reduce the cost provided with the patient having cellulites is also analyzed through the use of PESTLE analysis.   Political The new approach used by HA to reduce the cost provided with the patient having cellulites will not get any good reputation, trust and success if it will not be aware of what is happening in the political sector Hong Kong, especially in line with the health policies by the Department of Health and Hospital Authority. The hospital should guarantee that sure they are aware of the political situation of the country and the company has its position with regards to political issues and that the management of the hospital who will implement the said services should be prepared for any problems concerning the political sector (Brundtland, 2001). The government or organizational jurisdictions or responsibilities involved includes department of health (Caulfield & Liu, 2006), local and national government and their international linkages who are supporting the notion of having quality living. The responsibility of the government is to establish an organization which focuses on the new approach used by HA to reduce the cost provided with the patient having cellulites management about the new approach used by HA to reduce the cost provided with the patient having cellulites. In addition, the government is responsible in providing financial support to the hospital that will pursue that said health project. The government should make a new policy that engage in enabling hospital authority that will disseminate information about the problem.   Economic Throughout the years, it can be said that one of the problems of HK health authority is with regards to their financial stability. With the reformations made by the HK government, it can be said that the country’s economic stature is doing well that’s why they try to improve their services to give the best healthcare services that meets the needs of their patients. It is not only the economic situation of the hospital that should be taken note of but also the economy of the country, the hospital management should be able to check first the economic status of the country they are operating in before making decisions because making decisions during a difficult time on the economy of another country may cause catastrophe for the company. The role of the government in regulating health care providers will be limited to ensuring that providers and payers do not engage in anticompetitive practices and that the safety of patients is protected (Casebeer and Hannah, 1998). This means that the government tries its best to reduce the healthcare costs at all levels for the consumer’s benefits.   Social The hospital management that proposes the implementation of the new service for the patients with cataract makes sure that the service they offer and will be accepted by the general public. The hospital management restricts and does not authorize the implementation of new services which they know will cause outbursts or complains from different group in the society. The hospital management makes sure that they have a very good relationship with different sector in the society.   Technological As part of the new service that will be implemented in one of the hospitals in HK, the management offered new innovations in the technological sector and introduced new concepts with regards to the new approach used by HA to reduce the cost provided with the patient having cellulites.  Since technology rapidly changes the company makes sure they are updated to what is happening and they can adjust to these changes. The company makes sure that the services they have are updated with regards to technology and if new technologies emerge they can compete with this kind of service.   Legal             In any country there are laws that need to be followed. These laws restrict or allow any action to be done. The laws make sure that the people do what is right and just. It prevents any arguments or differences. The hospital management makes sure that it follows the different laws and provisions provided by Department of health of Hong Kong and the Hospital Authority.  In addition, the hospital management also makes sure that the different healthcare laws are followed in any actions and activities they made.   Environmental The world is starting to be more conscious of building a better future for the people. Every possible way to ensure a better future is used. Different organizations are doing things to ensure that the future will be a bright one. The hospital management makes sure that the services that would be given will cause minimal problems to the environment.   Force Field Analysis             Aside from the stakeholder and Pestle analysis, this business report will also include Force Field Analysis (See Appendix 1). FFA is a useful approach for analyzing all the forces for and against a certain decision (MacDuffie & Depoy, 2004). In this regard, force field analysis is a specialized approach of weighing the cons and pros. The following figure presents the Forced Field analysis for the proposed service extensions about the new approach used by HA to reduce the cost provided with the patient having cellulites.   Figure 2 Forced Field Analysis   Forces against Change Score Cost problem 2 Inability to meet the needs of the patients         1 Inability to provide quality service. 1 Forces for Change Score The needs of the healthcare providers for having the new approach used by HA to reduce the cost provided with the patient having cellulites that will help government in the cost problems 3 The need of individuals with cellulites in HK to avail services which is cheaper or free. 2 Enables Patient’s to have a quality living. 3                                         Having a total of 8 for the forces for change and just 4 for forces against the implementation of the new service, there is a favouring score of 8:4 for implementing the new approach used by HA to reduce the cost provided with the patient having cellulites.   Feasibility Analysis of the Service             There are various ways on identifying the feasibility of the implementation for the new approach used by HA to reduce the cost provided with the patient having cellulites in one of the Hong Kong HA. In this regard, this financial analysis would use the Cost-benefit analysis. Cost-Benefit models require a well-informed respondent or group to provide subjective information regarding characteristics of the project under consideration. Such methods typically avoid conventional economic data (Hanley, Ryan & Wright, 2003), such as projected sales, profit margins, and costs, but rely more on subjective assessments of strategic variables, such as fit with corporate objectives, competitive advantage, and market attractiveness. Included in this category are checklists and their extension, scoring models (Cooper 1993, p.170). Cost benefit techniques rely on the subjective inputs of characteristics that are likely to be known. Cost benefit techniques recognize the lack of concrete financial data at earlier stages of the project and the fact that financial analysis is likely to yield unreliable results. Because of limited information and because only a tentative commitment is required during the early stages of the project, benefit methods are the most logical evaluation tool. In Cost benefit analysis, all costs and benefits are measured and compared in monetary terms (Smith, 2003).             The Cost benefit analysis for the implementation of the new service in HK hospital is shown below.             The new approach used by HA to reduce the cost provided with the patient having cellulites Needs Costs Other management approach cost and fund raising approach to collaborate with potential organisations HK $1.2 million New hospital care approach for the new approach used by HA to reduce the cost provided with the patient having cellulites. HK $200, 000 Other Costs HK $500, 000 Total Costs HK1.9 million Benefits: ·         Ability to alleviate reduce the costs of the patients with cellulites to lessen the burden faced by the government with hospital fee/ $70, 000/ year ·         Expanding and extending better community relations/$100 000/ year <ul type="disc" style="margin-bottom: 0in"> <li class="MsoNormal" style="color: #333333; text-align: justify; line-height: 200%"> Improved efficiency and reliability of the services extended to patients: estimate: $1.7 million/ year </li> <li class="MsoNormal" style="color: #333333; text-align: justify; line-height: 200%"> Improved patient service and retention: estimate: $100,000 / year </li> <li class="MsoNormal" style="color: #333333; text-align: justify; line-height: 200%"> More ability to manage hospitals sales effort: $250,000 / year </li> </ul> Total Benefit: HK $2.22 million /year Payback time: $3.8 million / $2.22 million = 1.7 of a year = approx. 20 months   The payback time is commonly known as the break even point of the analysis. It is said that it is important than the overall benefit of a service can deliver. As anticipated, the estimates of the benefit given by the new service can be noted as quite subjective. In spite of this, the management of the hospitals in cooperation with the Hospital Authority is very likely to pursue the implementation, given the short payback period.   Strategy to gather Enough Funding to pursue the service             In order to pursue the new approach used by HA to reduce the cost provided with the patient having cellulites in HK, the management and the healthcare professionals should be able to gather enough funding. In this regard, there are many ways that the hospital can be used to implement the said service extensions.             One of which is through the help of the local government of Hong Kong. Local government is a large portion of the overall health care safety net in Hong Kong, providing direct-care services and funding such items as public hospitals, transportation, educational outreach, and housing subsidies (Ketchum, 2001). Government agencies are established at the local, state or provincial, and federal levels to provide public health services. Health agencies at the state, county, or city level vary according to the need of the area. Their funds, generally from taxes, are administered by elected or appointed officials (Kozier et al, 2004). Local health departments have responsibility for developing programs to meet the health needs of the people, providing the necessary staff and facilities to carry out these programs, continually evaluating the effectiveness of the programs, and monitoring changing needs.  State health organizations are responsible for assisting the local health departments specifically by providing funds for implementing new services needed by the public. In addition, the hospital that will implement the said can also raise funds and financial budgets from different non-government organizations which addresses the needs for having quality living among elder patients with cellulites and other patients. The finance committee can also make some adjustments on the budget and can even seek external help from other organizations for additional funding. During the actual running of the new service, the hospital manager must make sure that proper allocation of the budget will be provided for the new service. With this, proper accounting of resources must be done, taking note of the progress of the new approach used by HA to reduce the cost provided with the patient having cellulites service and using graphs to monitor the progression of the project. The finance committee of the said service can also seek help from different organizations; especially multinational organizations that are based in Hong Kong in helping them have enough budgets to pursue the project. Herein, the management is able to create good relationships to potential industries that would sponsor then their financial needs to pursue the project. Solicitation is another important way to gather funds from private and public individuals, groups or corporations.   Reference: Brundtland G. H. (2001) Improving health systems’ performance. OECD, p. 4   Casebeer, A.L. and Hannah, KJ. (1998). The process of change related to health policy shift: reforming a health care system. International Journal of Public Sector Management, 11 (7): 566-582.   Caulfield, J. and Liu, A. (2006). Shifting Concepts of Autonomy in the Hong Kong Hospital Authority. Public Organization Review, 6 (3): 203-219.     Cooper, R.G. (1993): Winning at New Products, Accellerating the Process from Idea to Launch. Second Edition, Addison-Wesley Publishing Company.   Darby, M. (1998). Health care quality: From data to accountability.   Hanley N, Ryan M, and Wright R, (2003) “Estimating the Monetary Value of Health Care: Lessons from Environmental Economics,” Health Economics 12: 3–16   Johnston,R and Clark, G (2001). Service Operations Management, London: Financial Times/ Prentice Hall   Kozier, B. Erb, G, Berman, A. and Snyder, S. Kozier & Erb’s Fundamentals of Nursing, Concepts, Process and Practice Upper Saddle, River, NJ   MacDuffie and DePoy (2004). Force Field Analysis: A Model for Promoting Adolescents’ Involvement in Their Own. Health Promotional Practice 5: 306-313   Shafritz J. M. & Ott, J. S. (Eds.). (2001). Classics of organization theory (5th ed.). Fort Worth, TX: Harcourt College Publishers.   Smith R, (2003). “Construction of the Contingent Valuation Market in Health Care: a Critical Assessment,” Health Economics (August 2003).   Shaw C. (2001) External assessment of health care. British Medical Journal, vol. 322, p. 851-854     Appendix Appendix 1

Financial Management: Hong Kong Hospital Authority

Financial Management: Hong Kong Hospital Authority Executive Summary The main goal of this paper is to conduct busin...

Proposal & Thesis statement on Effects of Western Exposure to Southeast Asian College Students’ use of Formal English and English Slang

Proposal # 1:             Title:               “Effects of Western Exposure to Southeast Asian College Students’ use of Formal English and English Slang”   Thesis Statement: “Exposure to western culture of Southeast Asian college students significantly affects their use of formal English and English slang.”   Overview:     The acquisition and learning of language has been has been primarily attributed to the requirement of higher education in Southeast Asia to acquire a universal language in order to understand and to be understood in the international setting. The acquisition of English as second language could thus be varied as well considering the differing speech patterns in Southeast Asia. Nevertheless, all of these educational institutions teach universal principles of formal usage of English. The level of knowledge on these principles is thus considerably satisfactory, especially for those who are currently acquiring their degrees in college. Moreover, college students have a certain degree of individualism and independence in their acquisition of knowledge. This independence also places them in a vulnerable spot in the acquisition of culture aside from their own. These students readily acquire language not only for academic purposes but also for social rationales as well.

Proposal & Thesis statement on Effects of Western Exposure to Southeast Asian College Students’ use of Formal English and English Slang

Proposal # 1: Title: “Effects of Western Exposure to Southeast Asian College Students’ use of Formal English...

Chapter 4:An Investigation On Green Marketing – Case Comparison Of Two Industries

CHAPTER 4 – METHODOLOGY   4.1 Research Methodology 4.1.1 Overview This study was conducted for the purpose of identifying the different strategies that are used for applying green marketing in telecom industry. This research also aimed to focus on the different processes and aspects that are being applied. This study used data and information gathered from the employees and staffs of two well-known respective industries in the telecom industries, and focus on the different strategies that are being applied in the entire system of the respective industries. 4.1.2 Design A comparative approach was used, together with the descriptive research design in order to present current facts regarding green marketing principles and strategies of Nokia and Sony Ericsson. According to Creswell (1994), a descriptive research intends to present different facts which pertains on the nature and status of a situation, as it exists at the time of the study. Best (1970) also added that descriptive studies focuses on the relationships and practices that exist, beliefs and processes that are ongoing, effects that are being felt or tends that are developing. Thus, the comparative approach will focus on comparing and analyzing the differences and similarities of principles of green marketing in the two said respective industries. Case study method was also applied. Robson (2002) defines case study as a “strategy for doing research which involves an empirical investigation of a particular contemporary phenomenon within its real life context using multiple sources of evidence.” Case study approach is considered as most appropriate to exclude occurrences of green marketing in electronics industry with its two primary players as Nokia and Sony Ericsson. One of the threats to reliability which is subject of participant error will be addressed by means of conducting survey at the closest time possible. 4.1.4 Sample and Participants The population of the study is made of marketing staffs in these respective industries in the UK. These types of respondents were utilized by the research author of this study considering that the staffs have the necessary information about the objectives of the study. A total of 10 pre-designed questionnaires were randomly distributed for the sample selection. The marketing staffs were chosen because they are knowledgeable in terms of marketing effort of their respective industry. The random sampling technique was conducted where each member of a population has an equal opportunity to become a part of the sample.              For this research the author considerers 30 employees each from both respective industries, which means that 30 employees of the mobile respective industries will answer the queries and survey and 30 employees from the automotive respective industries. 4.2 Data Collection Primary and secondary data was collected. Primary data was gathered by survey and interview to, while secondary data was gathered by previous studies, reports, journal contents and statistics. In addition, annual reports, marketing reports, respective industry statistics was also obtained by using the respective industry website of the mobile respective industries like Nokia and Sony Ericsson and also website of automotive respective industries like BMW and other auto industries, together with different articles that are tackling green marketing activities of these respective industries. Internet databases were also consulted which include Questia, Highbeam and Emerald. 4.2.1 Survey The survey questionnaire was used as the main data-gathering instrument in this study. The survey focuses on the perceptions of the respondents regarding the implementation of green marketing in their respective organization or respective industry. The questions were structured and developed in Likert format. The respondents rated each question or statement with accordance to his or her degree of agreement or disagreement. This will enable the respondents to answer the survey in easy and fast manner. To test the validity of the questionnaire, it was tested to five respondents. The said respondents and their answers were not part of the actual study process. They were asked for any aspects of the questionnaire that are needed to be improved. The research author of this study then excluded unrelated questions and changed unclear or complicated terminologies into simpler ones in order to ensure understanding. The questionnaire was constructed in such a manner that telecom and automotive employees will easily understand and answer it. Hence, the set of questionnaire consider the use of the Likert approach which is a rating that indicates the level of agreement or disagreement of to a given statement.  With this semi-structured questionnaire, the participants from each industry were provided with five-response choices. Such options performs as the quantification of the choices of the. The table below shows such designation. 	 		 		 		1 		 		 		 		Strongly Agree 	 	 		 		 		2 		 		 		Agree 	 	 		 		 		3 		 		 		 		Uncertain 	 	 		 		 		4 		 		 		 		Disagree 	 	 		 		 		5 		 		 		 		Strongly Disagree 	     4.3       Instrumentation 43.1. Content analysis For this research study, the use of content analysis was considered to determine the communications to be able to answer the two levels of queries for this study: the descriptive as well as the interpretive.  Herein, the first one give emphasis on what the communication is all about and the second one give emphasis on what the contents was likely to describe.   The approach entailed finding through one or more approach of communication to answer the queries that the research bring to the topic (Brubaker & Thomas, 2000). The consideration of the content analysis was utilised to analyse and interpret the answers of the interview section.   4.4.2. Statistical Treatment Accordingly, the use of Likert scale was considered for the interpretation of the items in the structured survey questionnaire. The answers were practically based on the assessment of the telecom and automotive employees on the green marketing approach within each industry. There were moments that telecom and automotive employees were asked to rate why this approach is considered within the industry.   Table 1: The Five-point Likert Scale 	 		 			 			 			 			Scale 			 			 			 			Range 			 			 			 			Interpretation 		 		 			 			 			1 			 			 			 			0.00-1.49 			 			 			 			Strongly Agree 		 		 			 			 			2 			 			 			 			1.50 – 2.49 			 			 			 			Agree 		 		 			 			 			3 			 			 			 			2.50 – 3.49 			 			 			 			Uncertain 		 		 			 			 			4 			 			 			 			3.50 – 4.49 			 			 			 			Disagree 		 		 			 			 			5 			 			 			 			4.50 – 5.00 			 			 			 			Strongly Disagree 		 	   In this study, the use of weighted mean are also considered for the measurement of the general answers of the survey samples, whether they believe a given statement or not. To compute the weighted mean, the following formula will be used:                                       Where:           f – weight given to each response                                                             x – Number of responses                                                             xt – total number of responses In this regard, the results of the survey process were shown in tables or graphs.   4.2.2 Interview Aside from the survey method, the study also applied the semi-structured interview method. This was done in order to come up with issues regarding the strategies, requirements as well as challenges that are being encountered of the respondents and the respective industries towards green marketing. With the use of semi-structured interview, respondents will be able to express their feelings, concerns and opinions. In this paper, all interviews have been done via telephone as well as through email. IF the research author of this study of this dissertation were aware of the lost of the body language analysis, the research author of this study opted to consider telephone interview for practical reasons. Because of the distance and the hectic schedules of the interviewees, it was indeed very impossible for the author of this investigation to interview each individual face-to-face. Nevertheless, one advantage of this kind of interview is that it reduces the tendency to affect the participants. The contact individuals in both the telecom and the automotive industries were either their marketing manager or other marketing staffs.  Even if the interview duration were inconsistent, the research author considered an average of 15-20 minutes for the interview. Nonetheless, it must be noted that the participants already had general idea regarding the issue that the interview were supposed to be given emphasis. Herein, during the first contacts, the research author of this study of this investigation has informed various individuals that this interview will be regarding their adherence to the context of green marketing.  As mentioned, this interview is a semi-structured interview which includes the main topic but staying open to any other path that occurs through the participant’s response.  In this interview, the research author of this study who is also the interview have been able to list general queries regarding the topics which needed to be achieved in this dissertation. Such list is known as the interview guide, which provide the interview the support needed but also enables both parties to have a great deal of leeway in how to response (Bryman & Bell 2007, P474). In this dissertation the interview guide includes the following. 1.    Could you describe in your own words the importance of environmental protection within your industry? 2.    Besides your automotive products, which ecological solutions did you consider in your industry? (production chain, employees, waste, buildings) 3.    Is it important to include environmental protection in your marketing communication? 4.    What is your main approach and marketing strategy for your future products? 5.    What made your respective industry decide to adopt green marketing approach? Why? 6.    What were the factors that you considered before venturing into green marketing approach? 7.    What were the problems you encountered while on the process of implementing green marketing approach? 8.    How did you deal with these problems? 9.    What are the benefits of implementing green marketing approach?   4.2.3 Ethical Consideration The study involved the use of human participants and the acquisition of some confidential respective industry data. Therefore, ethical considerations had been identified and prioritized. The research author of this study ensured that these factors were safeguarded during the duration of the study. Thus, in order to obtain consent of the marketing staffs of the two respective industries, the research author of this study secured an approval from the managements by written letter of permission. Aside from that securing the permission of the participants was also given importance. The written letter explained the details of the research including its objectives, purposes and procedures. This help to ensure that the connection and trust between the research author of this study and respondents which lead to cooperation. Respondents were also informed that they can quit the study anytime they want. Their privacy and the confidentiality of their data were also prioritized.  Above all, the respondents were informed that all of the information gathered from them will be used for this study alone. 4.2.4 Data Processing After gathering the completed questionnaires from the respondents, total responses for each item will be tabulated. To use the Likert-scale for interpretation, it is important to use weighted mean to represent each question. Weighted mean is the average where every quantity to be averages has a corresponding weight and represent the significance of each quantity to the average. To compute the mean, this formula will be used:

Chapter 4:An Investigation On Green Marketing – Case Comparison Of Two Industries

CHAPTER 4 – METHODOLOGY 4.1 Research Methodology 4.1.1 Overview This study was conducted for the purpose of identifying the di...

Sample Marketing Strategies and Programme of a Fitness Shoe

Marketing Strategies and ProgrammesMarketing MixMBT shall create a brand preference through emphasizing its therapeutic benefits, an advantage that Shape-Ups do not have. For one, MBT shoes are equipped Masai Sensor. MBT had to convinced potential customers that the MBT shoes were the best solution to meet their desire for a physical fitness shoes. The continued advertising to more effectively communicate the features and benefits can actually convince consumers to purchase and prefer MBT shoes than any other rocker sole shoes provider in the footwear market. Thereby, not only MBT should introduce MBT shoes but also provide the people the mindset of acquisition based on the functionality and benefits of the product. Marketing Objectives and GoalsMBT shall set objectives aggressively to sell the diverse MBT shoes to achieve objectives set for one year in the global market. These objectives include:Ø  Acquire 8-10% of the market share in the world athletic shoes market by Q4 of 2012Ø  Achieve 500,000 - 1 million units sales in one year by Q4 of 2012Ø  Achieve 3-5% share based on sales by Q4 of 2012ProductAthletic footwear industry has products that is often standardised, less technical and often requires less servicing. Nonetheless, a purchase of an MBT shoes requires post-service of educating the consumer on how to properly use the MBT shoes to reap the maximum benefits. While the athletic shoes are attributed for flexibility and absorbability of impact, fitness shoes like MBT shoes is based more on technology aside from design and aesthetics. Only a few athletic companies are offering rocker sole shoes and the rest are imitations. The original design of MBT shoes is not basic but unique in the sense that it is the only rocker sole shoes that make use of Masai Sensor.  Nevertheless, MBT shoes, while it grows to be a trusted brand, are faced with competition on fewer “me-too” footwear products. This could be one disadvantage of the first-mover strategy wherein it is being imitated by the competition, capturing market share typically intended for MBT shoes, for instance. Essentially, the athletic footwear that MBT is offering has a broad market appeal. However, the products should also possess distinguishing features that will set it apart from other competing products, and that is the technology itself. In this way, MBT shoes can achieve the advantage of share of preference. PricePrice competition in the athletic footwear industry is relatively non-existent which means that firms are competing with respect to price by launching at several different price levels in order to reach different areas of the market. Because MBT shoes will not compete at all market levels, and considering the genuineness of MBT shoes, MBT shoes are sold at a premium. Nevertheless, people who are in dire need of a pair of rocker sole shoes are willing to pay the price. Prices of MBT shoes start at £120 and up. Using a skimming pricing strategy, MBT sells MBT shoes at a higher introductory price to gain higher profits in the profits. Although MBT was able to reimburse the cost of investment, the higher prices might lead to the lost connection with the consumers. For instance, the pricing strategy bounces back adversarially since fake discounted MBT shoes are now flooding online stores. Thereby, there is an ongoing price war between original MBT shoes and fake MBT shoes and that earnings of the former will continue to be volatile. PlaceDistribution channels of MBT shoes will be a combination of distributors and retailers. MBT should start its line of retail stores which will house their brands and distributors for selling the brands in geographically-scattered areas. At the retail level, reseller stores should be utilised to penetrate a larger audience in different cities and regions worldwide. Basically, such mixed distribution channeling strategy can enable MBT to hold a tremendous control over the MBT shoes brand. Not just the brand, the company would be also able to control retail prices, inventory levels and post-sale service.   Viardot (2004, p. 196) noted that for products that are neither entirely standard nor truly non-standardised but rather in between these two categories, a marketing channel should be selected depending upon the technical complexity of the product and the need for customer service depending upon the distributor’s ability. As such, the Internet is an important distribution channel for MBT. MBT shoes can also expand and improve its distribution capabilities by opening its own retail stores in key cities around the world especially in up-market, quality shopping venues like that of high streets. MBT, nevertheless, is currently providing experts on retail floor to address the needs of the people in real-time. PromotionAwareness of the existence of the MBT shoes would be made possible by excessive advertisements on TV, in magazines and on the Internet. The growing public awareness could lead to sales as MBT shoes advertisements tapped on the interest of the people. In particular, MBT could arrange demonstrations and target messages to innovators and early adopters to create interest in the rocker sole shoes. Through this, people can be made not only of the product itself but also of all the features and benefits of the MBT shoes to its user. Marketing ProgrammeBecause MBT shoes has a presence already in Europe, Canada and Australia, the US market would be an appropriate market to penetrate. As Ansoff puts it, some companies, which aimed at a single market with a single product, decided to concentrate on the targeted market with the current product. These companies put a lot of effort to gain more market share out of the market thus becoming the major player of the market and thus are able to withstand any new competitors. Ansoff called it the strategy of market penetration (Ansoff and McDonnell, 1990). The advertising plan in the US market is as follows:

Sample Marketing Strategies and Programme of a Fitness Shoe

Marketing Strategies and Programmes Marketing Mix MBT shall create a brand preference through emphasizing its therapeutic benefits, an advan...

Corporation and Partnerships Law in Australia

Q1 A.           First and foremost, the business relationship present between the three individuals basically constitutes an incorporated limited partnership as stated in s1 of the Partnership Act (SA) of 1891. This means that the liability of the losses incurred in the operations of UA is to be shouldered by all the partners of the firm. (s44) The case indicated that they accuse Armi of treachery or disloyalty. Unfortunately they are not covered by s30 of the Partnership Act since they represent an incorporated limited partnership. This means that they could not sue for damages for this claim since Armi is not prohibited by law to compete with the company he owns with Bruce and Clint. However, a recent case indicated that there exists a fiduciary relationship between the three partners. (Blobel & Ors v Blobel & Ors, 2005) A duty of good faith, preserving confidence, and steering clear of any possible conflict of interest is essentially needed in a partnership. Moreover, the same case similarly noted that no one should also personally profit from the partnership opportunities.     A different outcome would have taken place if the company had been a corporation. Armi has does not represent the firm when he made a deal with BIG, not to mention the fact that the technology sold to the BIG is discarded by the UA. Given this fact, the actions rendered by Armi is thus not covered by s51c(4), meaning that he have no responsibility to inform the two other partners in UA about the deal he made with UA. As recourse by Bruce and Clint, the case did not mention any dissolution of partnership made. This means that Armi is still a partner in UA, thus he holds the liabilities incurred by the firm as much as Clint and Bruce were. This means that Bruce and Clint could ask the help of the courts to call on Arni’s participation in the payment of any payables and debts incurred by UA.  On the other hand, they could also ask the help of the courts to initiate dissolution proceedings. (s35) This would mitigate their losses considering the fact that the company is nearing insolvency and has incurred a lot of debts. In this manner, the payment of the debts will be on the terms of the firm.           B.           According to s44(b) of the Partnership Act (SA) of 1891, a partnership’s losses are to be paid by the firm. In this case, the liabilities that they have incurred in the acquisition of a merchandise by Friendly Finance Ltd. This is also indicated in the Blobel & Ors v Blobel & Ors case. The said case highlighted s9 of the Partnership Act 1891 stating that every partner in an organization is legally responsible for all the payables and obligations of the organization given that the partner is still considered a partner of the firm. In this context, Arni has already departed from the partnership, this would be found on the presumption that he has been expelled by the majority. Given this fact, both Clint and Bruce are thus liable for the payment of the debts incurred to Friendly Finance Ltd since they are now the entire composition of UA. The acquisition of the merchandise did not indicate that Armi bought it on a personal whim. As stated in the facts of the case, the firm has been making good use of the merchandise. They would just have to pay off the debts to Friendly Finance Ltd. On a similar note, Bruce and Clint may have to ask the help of the court on this one, once more for the dissolution of the firm. They could indicate that Armi, when he was still connected to the firm, has breached a partnership agreement in purchasing the merchandise from Friendly Finance Ltd which costs over $30,000. They could pursue a claim for breach of contract and fiduciary duty. (Ireland v Chia & Ors, 1999) Their agreement was that Armi was only to spend $20,000 on any purchase. This could only add up to the court’s favour to decree dissolution. In any case, the firm still has to recompense the payables they have incurred to Friendly Finance Ltd.  In the case of Ireland v Chia & Ors (1999) legal dissolution of the partnership was granted by the courts.   C.           UA have the choice to tell Fast Cars Pty Ltd to take the car back. They could also tell them that they should go after Armi because they have transacted with Armi, and he clearly is guilty of misrepresentation. Armi could not be a Chief Executive Officer of UA because it is not a corporation. It is registered as a partnership which means all three have equal decision making powers in the company. Finding the letter C-E-O appended on the name of Armi may have induced Fast Cars Pty Ltd to approve the sale of the luxury car. In addition, Bruce and Clint have the option to take legal actions against the payment of the remaining balance on the Ferrari that Armi bought using a partnership cheque. They could claim that they are covered by s75(2a) of the Partnership Act (SA) of 1891 which clearly indicated that any document including cheques should be “in connection with the conduct of the partnership’s business.” And with reference to the mission statement of UA, purchasing a luxury sports car is not inherently a part of any provision of “hardcore gaming action.” In addition, the said section of the Act also indicated the abbreviation “LP” is mandatory in issuing documents such as cheques. Bruce and Clint could claim that the approval of Armi’s purchase of the Ferrari was done without any due diligence and with gross negligence considering that the mode of payment made by Armi in fact indicated that he is not a CEO of UA and thus may not have been capable of buying such merchandise. In addition, the car was bought under the name of Armi and not in the name of UA. Clint and Bruce could point to the case of Blobel & Ors v Blobel & Ors (2005) that the liability for the car payment are not covered by the company considering the fact that Armi is no longer a partner of the firm.       Q2. A. Tran should assert his right as a shareholder. There is this concept of shareholder primacy still present in corporate law. Traditionally, the concept of shareholder primacy has been considered as the primary mandate of the directors and senior officers of a corporation in the context of corporate law. Specifically, all the “energies” of the   (1995, ) board should be geared towards the advancement of the shareholders in general. This claim similarly talks about the fiduciary obligation of the board of directors to make the decision making within the organization known to the corporation and its shareholder. (p7) And with the actions made by Bigadco Ltd, this duty might have been compromised. He could take legal action against Bigadco Ltd with reference to certain infringements in the Corporate Law Economic Reform Program (CLERP 9 Act). Specifically, disclosure on the remunerations of the directors should be taken so as to avert any more instances similar to what took place in the case of One.Tel. This has been the most notable in relation to corporate failure and remuneration of the directors. Specifically, in the said case, dubious amounts of bonuses were given to the chief executive officers of the company. ( 2002) With the public knowing of the doubtful nature of the said remuneration, the share price of the One.tel took a nose dive from its existing position.   Specifically, Tran could prevent the possible ratification of the corporate decisions made by Bigadco by taking legal actions regarding the company’s failure to give it full disclosure on the report as to the affairs (RATA). This is similar to what transpired to the case of Byrnes and Australian Securities and Investment Commission [2000] when the defendant was not able to substantiate whether the financial capability of the corporation could support the activities it sought to implement. In the case of Tran, he could carry out this lawsuit and consequently allow the company to cut a deal with him so that he could meet his medical expenses. On the other hand, the said lawsuit would also buy him time to liquidate his shares before the corporation’s value totally decline.   On a similar note, Tran could also seek the help of the Australian Securities and Investment Commission to make a banning order against the corporation. In this manner, the said commission could conduct an investigation pursuant to s837 of the Corporations Law as to whether the decisions of the board to increase the remuneration of the directors and the subsequent decline of the stock value of the firm are done in an “efficiently, honestly and fairly” manner. (2001)  Thus, doing such a move will allow Tran to know whether the company has been using his investment for fraudulent means to advance their individual profits.        B. Under the Public Corporations Act 1993 of South Australia, a corporation must have a charter that will be able to distinguish the actual personality of the company. (s12) Specific areas like the scope of investment activities and operations are required to be presented in the company’s charter. In the case of Charles, there is indeed this kind of charter where it states its reason of existence: “investigate, promote and market alternative forms of healing and therapeutic interventions.” The intention of Dan, A, and B to boldly change the direction of the company generally contradicts this general purpose. With the shift from therapeutic interventions to alcohol and tobacco distribution, Charles has good reason to oppose it. Given that their organization is essentially a corporation, then the doctrine of ultra vires could come into play. Charles could sue for legal damages if the three other shareholders have pushed though with their plan. Charles could invoke s68 of the COMPANIES ACT (Cth) 1981 No. 89 of 1981 seeking to make the action void.   In the same manner, Charles could also press charges on Dan in the instance that they have taken actions realising the said bold strategic direction on the context of misrepresentation based on the Misrepresentation Act 1972. This has been reflected in the case of Carneiro & Anor V Robinson & Ors [2005] where the defendant made a claim that induced an expectation on the part of the claimant. This is identified in the case of Charles when he was induced into joining the corporation because of the objectives and products being sold by the company. Generally, Charles could claim that the change of direction of the company will essentially create an estoppel and even trigger a charge of misrepresentation because it has deviated to the inherent values advance before his accession to the corporation.   Ultimately there are two options for Charles; one is to establish to the courts that the direction of the company is going in total contradiction of what is initially stated in its charter. This means that Charles have to take the refuge of the judicial system as to protect the values and even his shares of the company. He has to establish that the decision of the company is beyond its own powers. On the other hand, Charles could also sue Dan for misrepresentation because of their use of the promise to initially “investigate, promote and market alternative forms of healing and therapeutic interventions” induced the participation of Charles in the corporation. The bold strategic direction towards which the company is heading, specifically distributing tobacco and alcohol, is the complete turn to what has encouraged him to join the organization.

Corporation and Partnerships Law in Australia

Q1 A. First and foremost, the business relationship present between the three individuals basically constitutes an incorporat...