Cultural Reflection - 753 Words

Upon completion of this course, in additional to all of the life experiences I have been involved in over the semester, I have gained valuable insights in regard to my cultural background. While gathering information for the ancestor writing assignment, correspondingly choosing Ikebana as the topic for an occupation evidence paper, I discovered how and why Japanese culture has influenced over my family’s cultural identity. By reason of my mothers side of the family whom resided in Taiwan during and likely before the period between 1895 and 1945, while Taiwan was under Japanese rule and was a dependency of the Empire of Japan. This was a new discovery which, given a fresh perception on my own cultural background as a whole. I acquired a†¦show more content†¦My interactions with other diverse has affected by my experiences over the semester, I noticed that especially while I was conducting the interview with a person with disability as well as the Sleep intervention pro ject. I found myself explaining the word â€Å"occupation† and the meaning of â€Å"occupational functioning† to my interviewee, as it is not common phrases use to describe activities. The process of getting to know a client, had allowed me to discern why is essential for Occupational therapist, and it is crucial to optimize client’s occupation experience. My current perception of my own cultural competency has not changed, I believe I am working towards to become culturally proficient (Wells, Black Gupta, 2016) in addition studying to becoming an occupational therapist, I will continually improve my cultural effectiveness, in order to become a mindful health care practitioner. As the semester provided many unique learning experiences where I was able to self-reflected on my own culture contrast to other cultures. Moreover, I was able to recognize my own privilege, as well as able to review them from an outsiders’ perspective. I continue to believe using my own strength to interact with people from different culture, and applying my ability in bettering people’s life experience. In order to further improve my cultural effectiveness, as to preparingShow MoreRelatedReflection On Cultural Imperialism748 Words   |  3 PagesAustin J. F. Avison Dr. RM ITC 100-02 10 am Reflection One Throughout the course thus far we have spoken as a class on many topics regarding the role of language and communication having much larger impact than just speaking and communication. We have brought up the notion of language as a system of cultural domination and oppression that has been shown in real-world cases through many reading in which we have explored. One of the topics that we have explored and had introduced was that broughtRead MoreReflection Paper On Cultural Diversity1815 Words   |  8 PagesFinal Reflection Paper During this summer semester, I have learned many important skills concerning my internship at Retreat of Lancaster County. These skills can be divided into four categories - social and cultural diversity, helping relationships, group work, and assessment. Retreat of Lancaster County is an inpatient drug and alcohol rehabilitation center with both rehab and detox levels. At this location, I have been able work with patients entering recovery for alcohol use, heroin use, prescriptionRead MoreCultural Communication Reflection Paper2206 Words   |  9 Pagesthis class, I never would of thought of specific ways of cultural communication is different for many. Understanding terms and talking about them in real life situations in class, was helpful to understanding these terms. They’re 6 key terms that are going to be explained, how they apply to class or life situation with myself involved, and what I will do with these terms throughout the rest of my career. The first key concept is Cultural Identity. This was one of the most interesting terms thatRead MoreCultural Reflection : Cultural Continued Reflection1073 Words   |  5 PagesCross- Cultural Continued Reflection The paper is based on the following questions asked by my advisor, Dr. Larry G.Murphy 1.Why not seek understanding of this religious-cultural practice, in this time of cross-cultural learning? 2. In what sense, or for what reason(s) do you name this people as God’s chosen? 3. What is the significance of being a â€Å"Gentile?† In the contemporary religious, and interreligious, context, what does Gentile mean? I was born and raised in Pakistan and moved to theRead MoreCultural Reflection : Cultural Experience889 Words   |  4 PagesCultural Experience Reflection The cultural assignment allowed me to gain a new perspective on the differences of others. I have grown up in a household of dissimilar belief systems. My mom is a dedicated Christian while my dad is unassociated with any religious beliefs. Though, he grew up as a Jehovah’s Witness. There differing belief systems have been the cause of various conflicts within their relationship. I often wondered if people with contradicting beliefs could effectively and peacefullyRead MoreCultural Reflection814 Words   |  4 PagesCulture is a delicate word. If you spoke to a Sarah Buonauro exactly 12 months ago I would have told you a definition of culture that revolved around sameness. Coming from my background living in Northern California going to schools where students were so similar. I came to Southern California with no idea of the cultures in the area. Glendale seemed like a nice place to live and it is for a big city. The culture of the area and the culture of my school s ite were nothing like anything I hadRead MoreCultural Reflection729 Words   |  3 Pagesâ€Å"Culture is what presents us with the kinds of valuable things that can fill a life. And insofar as we can recognize the value in those things and make them part of our lives, our lives are meaningful.† Gideon Rosen, Stuart Professor of Philosophy and director of the Behrman Undergraduate Society of Fellows, Princeton University. Using one of the themes below as a starting point, write about a person, event, or experience that helped you define one of your values or in some way changed how you approachRead MorePersonal Cultural Reflection1406 Words   |  6 PagesPersonal Cultural Reflection ETH 125 October 30, 2010 Axia College (Origin) When thinking about my family and our roots I identify my family’s places or origin as Germany and Ireland. A majority of my family is of German ancestry and the one exception is my grandmother and she is Irish. I identify these too places as where my family came from due to stories that I have hear from family members and to the traits that each member of my family carries. A majority of my familyRead MoreA Reflection On Cultural Humility1416 Words   |  6 Pages How do I identify myself? These two questions were the constant questions running through my mind as I envisioned writing a paper about cultural humility. First step, define cultural humility. Cultural humility, as I understand, is the ability for an individual to open their mind and be willing to learn about and find acceptance in differences between cultural identities. Answering the questions above and understanding the definition brought about some realizations within myself that were nev erRead MoreCultural Reflection Paper870 Words   |  4 PagesEveryone has their own distinct culture, and identity. As distinction is the conception that one projects to society, and culture is the part of which we resemble ourselves as, and without culture we wouldnt know who we are in this world. Your entire life you are brought up to learn many beliefs, and moral values including who you associate with throughout life is all connected to ones culture. The way you were brought up to learn and your familys background is what resembles you as being different

Taking a Look at the Coca Plant - 650 Words

Erythroxylum coca is a plant native to the Andean region in South America. However that is not the only place that it is grown. It is also grown in Mexico, India, Tanzania, Madagascar, other parts of Africa, and in some places in Asia including Indonesia. To grow the coca plant, it must be in an area that is slightly sloping so no water can drown the plants. The seeds planted are gathered from December to March being 2 to 3 years old. They are planted in small plots shaded from the sun. They are sown 2 inches apart and are weeded frequently. A coca plant germinates in about 20 to 30 days. It reaches its transplanting size in 2 months when it is about 12 inches tall. It reaches full maturity and is harvested between 12 and 24 months after it is transplanted. The leaves are harvest ready when they have a yellowish tint and they crack when bent. the leaves are picked by hand. The most abundant harvest is after the March rains. Other harvests occur in June, July, and November. After bein g harvested the leaves are put in sacks, then taken to a closed room and spread on the floor. The next day they are spread in thin layers on a tarpaulin out in the sun while they dry. If they are receiving direct sunlight, then they can dry within 6 hours. On a cloudy day they can take longer to dry. If it rains or storms the leaves must be taken inside or they will be ruined because if they have over 14% moisture they will ferment. After being dried the leaves are left for 3 days before theyShow MoreRelatedCoca Cola Ethical Issues Essay1246 Words   |  5 Pagesnumber of ethical issues that Coca Cola has had within the past decades. The company has been accused of a number of unethical behaviors that had to do with the safety of their products, financial issues, also a contamination scare in 1999, and issues based on their competition. They were also accused of racial discrimination, distribution of additional goods being sent out to suppliers before the quarter ended, also know n as channel stuffing. Other ethical issues Coca-Cola had were exhaustion ofRead MoreCoca Cola1381 Words   |  6 Pages Management Theory and Practices Abstract Jacksonville Consulting LLC is a small firm in Jacksonville Fl. In this paper we are using several techniques to do research on the Coca Cola bottling Company. The research is to be used to evaluate the environmental issues and work force diversity of Coca Cola, also strategies and recommendations on these issues will be explored. Introduction: Jacksonville Consulting LLC is a small firm located in Jacksonville Florida. The President of theRead MoreBolivia, A Country Known For Natural Resources1110 Words   |  5 Pageshas made many question Morales’ true morals and motives for the Bolivian people. Is he simply taking advantage of his being from an indigenous tribe for the mass amounts of voters that are uneducated farmers? Does he really care to help the poor indigenous tribes of Bolivia? Or says he does to power his own personal agenda? The year is 1980 and Morales begins to ban together with other indigenous coca farmers and soon became their leader in a political party that was centered on Socialism, MAS:Read MoreSwot Analysis Of Coca Cola Company Essay780 Words   |  4 PagesCoca Cola Enterprises is the primary producer of Coca Cola products in Western Europe, although it is headquartered in Atlanta GA, and its stock is traded on the New York Stock Exchange (NYSE: CCE). The company was created and spun off from The Coca-Cola Company in 1986, after the company acquired a series of bottling facilities including the Coca-Cola Bottling Company of New York, the Associated Coca-Cola Bottling Company as well as the bottling operations of both Beatrice Foods and the Lupton familyRead MoreCoca Cola Racial Discrimination Lawsuit1366 Words   |  6 PagesCOCA-COLA RACIAL DISCRIMINATION LAWSUIT 1999 (INGRAM ET AL. V. THE COCA-COLA COMPANY) Have you ever heard of the saying â€Å"never judge a book by its cover†? To judge someone based on what they look like on the outside, how they act, or even how they dress is discrimination. Discrimination is the practice of unfairly treating a person or group of people differently from other people or groups of people (Merriam-Webster). While discrimination is a significant problem in todays society so is racismRead MoreCsr : Corporate Social Responsibility1598 Words   |  7 Pages CSR stands for Corporate Social Responsibility. 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Auditing - Assurance and Compliance Involves Systematic Examination

Question: Describe about the Auditing, Assurance and Compliance for Involves Systematic Examination. Answer: 1 (a) Auditing is a procedure that involves systematic examination of the organizational documents, statutory records and accounting books to determine the true and fair view. Auditors are required to perform substantive and analytical procedures to check the accountability and transparency of the financial information of the organization for the benefit of stakeholders. Auditors occupy the reasonable responsibility to present the financial statements and other business records in true and fair view however the absolute responsibility lies on the management of the organization (Leuz and Wysocki 2016). Accordingly, the auditors are liable on presentment of the business information in transparent form but the auditors are nor responsible for wrong or unfair business decisions including the transactions with third parties. Auditors negligence is considered with respect to the presentment of the business information as per the courts decision in Candler v Crane, Christmas Co. According to the case decision, the judgment formed as liability of the auditors towards third party as well as third party solicitors being non- clients (Abed et al. 2016). In the given situation, King and Queen audit firm had been notified by the third party i.e. the solicitors of client companys financers on the grounds of inadequate measurement of provisions and decline in inventory value. It has been noted that Impulse Pty Limited suffered liquidity problems as well as the valuation of inventory declined, which was not considered by the auditor. Further, the company acquired big amount of loan from a financing company in order to accumulate additional working capital. According to the legal regulations of auditing, King Queen audit firm was responsible to verify the true and fairness view while reporting the debtors value, inventory value and other financial information. Disclosure of material discrepancies in the latest financial statements and other relevant business documents helps the users to measure the performance of the organization as well as the financial position (Baldauf, Steller and Steckel 2015). Considering the case of Hill v Van Erp (1997) 188 CLR 159, it had been opined that the duty of the auditor towards the third party or clients solicitor is reasonable subjected to the principles and professional standards. Since the appropriate disclosure of financial information provides impact on the organizational performance, investment decision, financing decision and other business decision is affected. In the present case, decision on acquisition of finance for working capital could not be the obligation of audit firm King Queen. How ever, appropriate disclosure liquidity problems, fall in inventory value and debtors value in the relevant documents by the auditors would have given a clear information to the finance company. Hence, it can be concluded that King Queen was not directly liable to EFL but the firm was reasonably liable for inappropriate and incomplete disclosure of companys financial information (Martin and Van Linden 2015). 1 (b) The financial statements of Impulse Pty Ltd for the financial year 2012 were audited by King Queen audit firm who provided an unqualified audit report. However, the organization had liquidity problems including the fall in debtors turnover and valuation of inventory. During the year 2012 the company had trading problems and acquired big amount of loan from EFL finance company to support the working capital. Unqualified report refers the opinion of auditor on companys financial statements to be true and fair including the appropriate disclosure and compliance of all the relevant accounting principles. The audit report of Impulse Ltd disclosed as unqualified report while the company was facing several financial problems in real (Chan, Lo and Mo 2015). Accordingly, disclosure of appropriate and material financial information affects several business and investment decisions by the users of financial statements. Similarly, in case of Impulse Limited the loan was provided by the finance company on the basis of audited report of the financial year 2012. The report was unqualified however, in actual the financial position of the company was not sound and appropriate. Further, according to the auditing standards and principles, auditor is responsible and liable to examine the financial information of the company to determine the true and fairness presentation for the benefit of stakeholders (Cheung 2015). Hence, in the present case, King Queen audit firm was held liable for performing and presenting the audit report with integrity and professional competence. Therefore, in case EFL had provided a written application for intending to provide loan to Impulse based on the financial report 2012, then King Queen would have had absolute obl igation. However, the liability of the audit firm had occurred only if the written form was accepted by King Queen firm for the purpose of reliance on the audited financial statements. Moreover, in general terms auditors responsibility on disclosure of companys financial statements is considered to be perceived independence and the users of such report utilize the same for making decisions. Hence, the answer would remain partially same on absolute responsibility of audit firm if EFL obtains the application on reliance on financial reports in the written form (Cohen et al. 2015). 2 (a) Independence of auditors means the independence of internal auditor of the organization or statutory auditor of the organization against the financial interest in the audited company. It involves the integrity and ethical behavior in performing the process of audit including the maintenance of objectivity, due diligence and confidentiality of the auditing company. Actual independence refers to the independence that is followed by the auditors in performing audit procedures in order to examine the accountability, transparency and true and fairness of the financial information disclosures. On the contrary, perceived independence refers to the independence deemed to be followed by the auditors while auditing the companys financial and statutory records. It involves conducting of auditing procedures by means of integrity and confidentiality of the auditing company as per the requirements of auditing standards (Earley 2015). Both actual and perceived independence forms essential part of the auditors independence in order to achieve the independence targets. In general, actual independence means the independence of auditors state of mind in order to deal with the particular situation. It refers to the capability of the auditor to make decisions independently stating the accountability of the organizations financial statements and other statutory documents. On the contrary, perceived independence means the consideration of independence by the auditors during the compromising situation by maintain the professional integrity (Funnell, Wade and Jupe 2016). Independence of auditors is important while performing the audit procedures for the organization in order to form the audit opinion against the examination of the financial statements and other documents. Independence of auditors is essential so the opinion and judgments of the auditors are not influenced by the relationship between the auditors and the management of the client company. Independence should be followed to form unbiased and direct judgment on the verification of the books of accounts for the benefits of the stakeholders. Since financial statements are prepared and presented for the use of organizational stakeholders, it is important to disclose all the material information with true and fair view. Therefore, the auditor of the organization is responsible to form independent opinion for the accountability of the financial information. Further, auditing also requires as due diligence for the purpose of business acquisition, diversification hence the auditor is required t o have independence to form correct valuation and honest opinion of the business activity. Additionally, independence of auditors refers to the charge of audit fees irrespective of any substantial interest and there should not be any collection of audit fees as a part of clients business income (Parida et al. 2015). In case of first situation, independence of auditor with respect to copying the financial information of the client company for completion of assignment has been maintained since the auditor the companys references. In the second situation, Wendy performed the duties of company secretary due to absence of the organizational secretary, which does not affect independence of the auditor if the duties are performed by maintaining integrity. It is important follow the independence while performing the audit work for the auditing company. As the secretarial work involves several confidential work of the company, it is the auditors duty to perform the work independently and maintain the confidentiality (Rikhardsson and Dull 2016). 2 (b) Auditing standards forms requirements of principles and ethical standards to perform the audit procedures by maintaining integrity and professional ethics. Australian Auditing Standards provides principles for the auditors that are required to be followed from the audit engagement, examination of books of accounts, statutory books and financial statements. There are several standards that have been established by the auditing boards to review on audit engagements, assurance engagements and audit on related services, which were issued before 1 July 2004 (Soh and Martinov-Bennie 2015). In the first situation, Bob, an audit assistant as well as a university student utilized the financial information of the auditing company Club Casino in order to complete the university assignment. However, Bob used the information by removing the references of the auditing company to maintain the confidentiality. According to Auditing Standard 102 on Compliance with ethical requirements when performing audits, reviews and other assurance engagements, auditor is required to maintain the independence, professional ethics and confidentiality for verification of financial information and other documents. The auditor is required to follow the conceptual framework to maintain the quality control and other regulatory compliance by following professional competence (Therisa and Sony 2016). It states that the auditor should not disclose the clients financial information or any other organizational details that affects the confidentiality and personal information. In the present case, even t hough Bob did not use the companys reference he is said breach the auditing standard on 102 as well as 200 on objectives of the Independent auditor. This is because Bob used the financial information of the company to complete the university assignment, which would be circulated out of the companys premises and without the knowledge of organizational management. Second situation represents the divergence of auditors work in the company that involves performance of company secretarial duties. Wendy performed the secretarial duties because the secretary of the Ace Company was not retired and the company took six months time to replace the position. According to the Auditing standards 210 on audit engagement states that certain services that an auditor can perform other than the audit work of the company. However, such services should not include the day to day business or if the services involves confidential information (Williams 2015). Moreover, Wendy was engagement partner in the Ace Limited audit hence, there was no breach of standards performed on conducting the secretarial services. Third situation involves the audit work of the individual for a firm, Precision Machinery Limited in order to test the internal controls of the cash payments system. The auditor was a temporary auditor and was the eldest son of the factory foreman. As per the auditing standards, audit work or audit procedures are conducted by professional auditors or by the audit assistant working under the auditors (Ismail and Mustapha 2015). Accordingly, Leo is eligible to conduct internal control test only if he either is a professional auditor or employed as an audit assistant of the firms auditor. In the fourth case, default in audit fees for three years have been paid by the company to the auditors Chan and Associates in terms of new office furniture which was worth 50% of the balance. According to the standards on auditing for discharge of audit fees, it states that the audit fees should not form part of organizational products and organizational issued shares. Further, the outstanding audit fees is required to be paid in full as well as in the form agreed while forming the audit engagement. In the given case, the dues of audit fees were paid in the form of companys products as well as the value was not paid in full along with the payment of issued shares. An auditor is not entitled to acquire the companys shares by any means therefore the regulatory requirement is said to have breached (Grimm, Hofstetter and Sarkis 2016). Reference List Abed, S., Abed, S., Al-Najjar, B., Al-Najjar, B., Roberts, C. and Roberts, C., 2016. Measuring Annual Report Narratives Disclosure: Empirical evidence from forward-looking information in the UK prior the financial crisis.Managerial Auditing Journal,31(4/5), pp.338-361. Baldauf, J., Steller, M. and Steckel, R., 2015. The Influence of Audit Risk and Materiality Guidelines on Auditors Planning Materiality Assessment.Accounting and Finance Research,4(4), p.p97. Chan, K.H., Lo, A.W. and Mo, P.L., 2015. An empirical analysis of the changes in tax audit focus on international transfer pricing.Journal of International Accounting, Auditing and Taxation,24, pp.94-104. Cheung, J.C., 2015. Professionalism, profession and quality assurance practitioners in external quality assurance agencies in higher education.Quality in Higher Education,21(2), pp.151-170. Cohen, J., Ding, Y., Lesage, C. and Stolowy, H., 2015. Media bias and the persistence of the expectation gap: An analysis of press articles on corporate fraud.Journal of Business Ethics, pp.1-23. Earley, C.E., 2015. Data analytics in auditing: Opportunities and challenges.Business Horizons,58(5), pp.493-500. Funnell, W., Wade, M. and Jupe, R., 2016. Stakeholder perceptions of performance audit credibility.Accounting and Business Research, pp.1-19. Grimm, J.H., Hofstetter, J.S. and Sarkis, J., 2016. Exploring sub-suppliers' compliance with corporate sustainability standards.Journal of Cleaner Production,112, pp.1971-1984. Ismail, H. and Mustapha, M., 2015. Auditing the Auditors: The Audit Oversight Board and Regulating Audit Quality in Malaysia.Journal of Modern Accounting and Auditing,11(3), pp.138-142. Leuz, C. and Wysocki, P.D., 2016. The economics of disclosure and financial reporting regulation: Evidence and suggestions for future research.Journal of Accounting Research,54(2), pp.525-622. Martin, R. and Van Linden, C., 2015. Big Dreams and Little Money for Speech Recognition: Revenue Generation by Outsourcing Research and Development.Journal of the International Academy for Case Studies,21(6), p.309. Parida, A., Kumar, U., Galar, D. and Stenstrm, C., 2015. Performance measurement and management for maintenance: a literature review.Journal of Quality in Maintenance Engineering,21(1), pp.2-33. Rikhardsson, P. and Dull, R., 2016. An exploratory study of the adoption, application and impacts of continuous auditing technologies in small businesses.International Journal of Accounting Information Systems,20, pp.26-37. Soh, D.S. and Martinov-Bennie, N., 2015. Internal auditors perceptions of their role in environmental, social and governance assurance and consulting.Managerial Auditing Journal,30(1), pp.80-111. Therisa, K.K. and Sony, M., 2016. Enhancing impact of ergonomics in educational institutions: theoretical foundations and practical viewpoints.International Journal of Process Management and Benchmarking,6(2), pp.133-146. Williams, J., 2015. Does a neurodevelopmental movement program affect Australian school children's academic performance? Unlocking Potential: A report.Australian Journal of Child and Family health Nursing,12(2), p.12.

Marketing Plan for Prospects Clothing Dealers

Introduction Marketing is a critical component in any company since it is through marketing that the products of a company are popularized to the customers hence creating market for them . However, it is not an activity that is undertaken spontaneously but one that requires prior planning.Advertising We will write a custom proposal sample on Marketing Plan for Prospects Clothing Dealers specifically for you for only $16.05 $11/page Learn More Unless marketing is planned, no results can be achieved. This essay will present a marketing plan for a company known as Prospects Clothing Dealers. The company deals in various types of clothing for children, teenagers and adults. The goals of the marketing campaign include popularizing the brand of the company, securing a considerable market for the company’s brand, understanding the market dynamics and assessing the viability of the product in the market. Stakeholder Analysis Customer Analysis Young people and teenagers have taste for fashion than adults. They are fanatics of different types of clothes and always fancy the latest designs in the market. As a result, the target market will be the young people and teenagers who give clothing the first priority. A company that deals with clothes and targets the youths will be in a position to achieve high sales since the young people like to look good in new clothes (Winton, 2007). Their tastes and preferences for clothes are totally different from the tastes and preferences of the adults who have little interest for fashion. In order to reach the market which is comprised of mostly the young people and youths, it will be important to have a general strategy. The general strategy to be used will be to popularize the products of the company through various methods. For example, through campaigns, the potential customers will be informed of the uniqueness of the company’s products and how they will benefit from buying the products. The products of the company will offer the customers value for their money due to their quality, a benefit the customers will not get from any other company.Advertising Looking for proposal on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Ideally, the general strategy will be to convince the customers that the company’s products are the best. This will be done through other channels such as meeting the customers physically, through mass media adverts and promotions. One of the significant segments of the customers who will be targeted is college and university students. The population of college and university students is high hence they will form a significant market base. There are thousands of college and university students who will form an important part of the market. This group of customers is the most stylish and clothing is one of their first priorities. They take pride in showing off to their colleagues through different types of clothing and have varied needs for clothes since they prefer stylish designs that make them unique. The choice of this segment of the market will be informed by the fact that college and university students are fanatics of fashion and different types of clothing hence it will be easy to market the company’s products to them successfully. Competitor Analysis In any field of operation in business, there are usually competitors. It is important for a company to identify its competitors in order to employ the right mechanisms to deal with competition (Ferrel Hartline, 2010). Prospects Clothing Dealers will have to face a number of competitors in the market both direct an indirect. There are two direct competitors that the company will have to deal with since they deal in the same products as the company. The two direct competitors will be HM and CA companies. These are reputable companies in the clothing industry hence it will be important to find app ropriate methods of dealing with the competition from these companies. Apart from the two direct competitors, there will be one indirect competitor, a company known as MJ markets.Advertising We will write a custom proposal sample on Marketing Plan for Prospects Clothing Dealers specifically for you for only $16.05 $11/page Learn More This is a company that exports its products to Europe although it is not physically present in the region Prospects Clothing Dealers intends to carry out marketing campaigns. As a result, the company will act as an indirect competitor since its products are also popular in the market. HM Company is a significant competitor among the direct competitors. This is due to the quality of products the company produces. However, it has its strengths and weaknesses. The first strength of the company is that it has a wide capital base because it has been in business for a considerable duration of time. This makes it a financially str ong company as opposed to other smaller and upcoming companies whose financial reserves are not usually very strong. The second strength of the company is that it has a high number of loyal customers, since it has been in operation for a long period of time and also due to the fact that it produces quality goods hence it has managed to win the loyalty of the customers. The third strength of the company is that it enjoys a large number of well trained and experienced staff who controls its operations. This enables the company to conduct its business activities in an effective manner. The fourth strength of the company is that it has many external stakeholders who give it solid support. Apart from the strengths associated with HM Company, it also has some weaknesses. The first weakness of the company is that it is often associated with unlawful dealings in its operations that put it on the spotlight. For instance, the company was accused of using genetically modified cotton at some po int to manufacture clothes. Negative publicity for the company affects its operations since some customers lose confidence in its operations. The second weakness of the company is internal wrangles that sometimes affect its performance. Due to the high number of employees and external stakeholders, the company often has to deal with internal wrangles.Advertising Looking for proposal on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Company Analysis The company will be comprised of both internal and external stakeholders. Internal stakeholders are individuals who work for the company or are owned by the company. They include the CEO to the company, senior managers and sponsors. All the internal stakeholders play an important role in the running of the company. One of the most important internal stakeholders is the senior managers. Senior managers play a critical role towards the success of the company. They are charged with coordinating various aspects of the company’s operations and ensuring that everything works as planned. Senior managers require details on the progress of individual departments and possible challenges faced by the departments in order for them to make the right decisions. The senior managers will have a significant influence on the plan since they are the final decision makers. They will either cause the plan to succeed or to fail. For instance, if they fail to allocate enough funds for the process its failure will be likely. On the other hand if they support the plan fully it will be a resounding success. The company has got its strengths and weaknesses just as its competitors have their strengths and weaknesses. The first strength of the company is that its employees are hardworking individuals and people who are ready to achieve good results. Hard work is the secret to success in any company. The second strength of the company is the willingness of the stakeholders to work together. It is beneficial for both internal and external stakeholders to agree on most things and work together. The third strength of the company is that the targeted customers are individuals interested in its products hence it will be possible to secure a large market for the products. Despite the above mentioned strengths, the company nevertheless has some weaknesses. The first weakness of the company is that its capital base is not very strong since it is a new company trying to posi tion itself in the market. New companies are always faced by financial challenges which at times slow their operations (Kotler Keller, 2009). The second weakness of the company is that it is not as popular as other established companies hence it will have to work extra hard to popularize its brand. Community The community is an important part of the company. These are individuals who are around the company and play an active role in its day to day activities. The external stakeholders are part of the community which is crucial to the company. They are individuals who are not directly involved in the running of the company but who in one way or the other influence it. External stakeholders include licensing agencies and company regulators. The licensing agencies are important stakeholders of the company since they can influence it in a number of ways (Peter Donnelly, 2010). For any company to operate, it must comply with certain regulations that make its operations lawful. Companie s that comply with the regulations are issued with licenses. The licensing agencies are critical since they determine the suitability of a company to conduct business. They will influence the company in that if they will not be satisfied with its operations, they will deny the company an operating license. The company will therefore be expected to always follow the regulations issued by licensing agencies. There are some factors that will have a significant influence on the marketing plan. One of the factors is the economic recession that has been affecting most countries in the world. The effects of the economic recession in any country include lack of financial resources to support many sectors of the economy. This will probably affect the marketing plan in that their will be limited financial resources to carry out most of the crucial aspects of the plan. Branding and Positioning The brand of the company is expected to be one of the most attractive brands in the market. The compa ny will design attractive clothes that many other competitors have not been designing. In order to increase the attractiveness of the clothes, high quality materials will be used. Most of the clothes will be associated with people who have decent personalities due to their class. One of the most important things to be done on the brand will be to maintain its reputation. A brand that maintains its reputation remains consistent among customers for a long period of time. This implies that it does not depreciate in its value or quality. It will be the responsibility of the company to continually look for ways of improving the brand in order to ensure that it will maintain its reputation. This will be an important strategy to ensure that the competitors do not take advantage of a depreciating quality of the brand to seize the market. Marketing Mix Product The product of the company will be characterized by qualities that will be different from those of the competitors’ products. The clothes will have additional decorations that will be attractive to the customers. They will also be made of durable materials that will give the customers value for their money. In addition, customers who purchase in large quantities will get regular discounts from the marked price. The quality of the clothes will also make the customers stand out in public places since they will be designed uniquely. Some of the highlights that will make the product better than that of the competitors include the prices of the product. It will be a strategy of the company to offer prices lower than the prices of the competitors in order to attract more customers. In addition, the products will be packaged attractively in a manner that will definitively be attractive to the customers. Majority of the customers will be attracted by well packaged products because this will show that the company respects the dignity of the customers. Price The pricing strategy will be based on the cost of producti on but the prices of the commodity will always be lower than those of products sold by the competitors. This will ensure that the company does not suffer losses by setting prices that will not recover the production cost while being careful not to set prices that will give the competitors undue advantage. For example most of men’s trousers at HM Company go at prices between $30 and $40. The company will sell the same trousers at $25. The same company has the most expensive pair of shoes prized at $60 while the most expensive pair of shoes at Prospects Clothing Dealers will be prized at $40. The relatively cheaper prices will place the company in a better position to attract more customers. Place A strategic location for the company will be important in order to ensure that it secures the anticipated market. The company will be located in the capital city of Greece because of the large number of potential customers in the city. The capital city is also characterized by individ uals with higher incomes as compared to those who live outside the capital. The location will therefore increase the chances of the company to make high profits. The distribution of products to the rest of the regions outside the capital city will be conducted through appointed distributors. The company will assign its vehicles to distributors who will distribute the products to all outlets. Products that will be exported outside the country will be transported by air since it is the fastest means of transport for the products to get to the market in good time. Promotion Promotion will be an important activity in order to popularize the brand. Some of the promotional activities that will be carried out will include newspaper advertisements, TV and Radio commercials, bill boards, online marketing and exhibitions. One of the most effective promotional strategies will be the use of TV and radio commercials. This will be conducted through the main radio and TV channels that have a large audience. The commercials will contain messages describing the uniqueness of the company’s products in order to attract more customers. Since the commercials will be aired repeatedly for a certain period of time, the estimated cost will be $70000 for the entire period the commercials will be on air. The goals of this promotion will include popularizing the brand, making the company known to the customers, securing market for the company’s products and gaining a competitive advantage over the competitors. The goals will be measured on the basis of customer feedback that will determine their interest in the product. Marketing Budget Implementation Calendar It will be crucial for the company to invest enough money in marketing because successful marketing will result in huge profits for the company. The budget will cover promotions, incentives given to customers and transport costs incurred during marketing. Justifying Marketing Expenses The TV and radio commercials wi ll popularize the product hence give rise to more than $ 2 million in sales while the cost of exhibitions will be expected to yield returns of $ 500000 in sales. The promotions will give rise to $ 1 million sales. Customer incentives will entice customers into buying the product and this will yield $ 300000 sales. Reference List Ferrel, O Hartline, M 2010. Marketing Strategy, Cengage Learning, New York. Kotler, P Keller, K 2009. Marketing Management, Pearson Prentice Hall, New York. Peter, P Donnelly, H 2010. Mareting Management, McGraw-Hill Companies,Inc, New York. Ranchhold, A 2007. Marketing Strategies:A Contemporary Approach, Financial Times Prentice Hall, Washington. Winton, R 2007. Develop a Product Marketing Strategy. Web. 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