Dick Spencer Case Analysis Essay

Dick Spencer In this case Dick Spencer, a well-known employee of an aluminum producing company worked his way up the ranks from being a successful salesman to a plant manager. However through his transition of roles Dick experienced some pitfalls. In the following paragraphs I will discuss the main contributing factors to Dick’s success as a salesman and the issues he faced as a plant manager and provide informed alternative solutions. Dick knew the business well which played a vital role in his success as a salesman. Fresh out of college and with a Master’s degree in Business Administration attributed to his knowledge of the business world. According to Foster-Pedley (2013), individuals with a MBA apply their new expertise and fresh talents in their jobs and towards the advancement of the organization. â€Å"They use resources better, applying their imagination and creativity more effectively, and dare to transform and make progress† (Foster-Pedley, 2013, p. 13). Individuals who attained a MBA credit their promotion, field change or pay increase to the degree (Ainsworth, 1995). We’ve all heard the adage,† knowledge is power† and Dick certainly had the potential and prevailed as a salesman. Dick had the ability to sale and according to his coworkers he was personable which amplified his sales ability. Effectively communicating and connecting with customers is an important aspect of the buyer-seller relationship (Hung, Lin, 2013). Whether it’s on a personal level or professional level making that relation is the key. Through his easy to talk to personality, Dick built relationships and gained trust. Research indicates â€Å"higher levels of trust are expected to result in more positive attitudes, higher levels of cooperation and other forms of workplace behavior, and superior levels of performance† (Dirks, Ferrin, 2001). Additionally in order to sale a product you have to know your product. Product knowledge directly correlates with how customers will respond to your product (Sangtani, Murshed, 2013). Once you’ve established a connection with the customer you want to listen and understand your customer’s needs. Having product knowledge is important so you can identify what your product(s) can do to serve your customer’s needs. According to Feiertag (2006), â€Å"It is just not enough to simply mention the feature; it needs to be presented as a value to the prospective buyer.† Successful individuals working in sales are enthusiastic and highly motived about  se lling their product (Stevenson, 2004). Dick was able to signed several large contracts by applying these fundamental sales skills. Dick was confident in his abilities to get the job done. Shortly after being employed Dick secured a single, large contract deal, placing him high on the sales leader board. Dick was confident in his abilities and took pride in getting the job done. It’s important to have confidence at work to professionally grow and advance your career. Dick’s confidence as a salesman later helped him get a management position. Dick enjoyed being a salesman and was pretty good at it. The study performed by Gyllensten and Palmer (2014), found participates were happier on the job and outside of work when their confidence levels increased. They also reported improvements in employees completing their work duties and a willingness to make decisions (Gyllensten and Palmer, 2014). Again we can also give credit to Dick’s MBA degree as providing self-assurance in his job performance abilities (Simpson, 2005). Confidence gives you the courage to do things you normally wouldn’t feel comfortable doing. In sales there are plenty of circumstances where the ordinary sales pitch just won’t seal the deal. Dick was also very committed to the job which reflected in his sales volume. In a review of the research on organization commitment and job performance, researchers identified there is a direct correlation in commitment to the job and achieving favorable results (Myer, Paunonen, Gellatly, Goffin, Jackson, 1989). Consistent with this prospective, Shore and M artin (1989) found that â€Å"better performance was shown by employees with higher commitments.† Dick was so committed to the job that it cost him his first marriage. He was serious about reaching his sales goals and each of these factors previously described played a part in his success as a salesman. However after a few years as a salesman, Dick wasn’t getting the satisfaction from the job as he had in the past. Therefore he requested a transfer out of the sales department and into a management role. Dick was named plant manager at Modrow. He came in at a hectic time when a lot of changes were being implemented. In his efforts to familiarize himself with the daily operations, Dick first struggle as a manager was micro-managing. He had his hand in everything possible which made his employees feel very un-easy. According to Dr. White, Dick possessed many symptoms of a Micromanager. For example, Dick interest in cutting costs required the expert knowledge of the accounting group. Knowing that  accounting wasn’t his strongest subject he still spent numerous hours burying himself in details that he just could not understand. Micromanagers don’t allow any decisions be made with their approval (White, 2010). Dick had also taken on too many tasks at once making it almost impossible for any of them to be implemented successfully. Being the micromanager that he was, Dick didn’t delegate tasks very well, another symptom of a micromanager (White, 2010). Another example of Dick’s micromanaging is when he insisted on changing the disposal process of scraps. When discussing this change with his foremen, Dick didn’t listen to the foreman’s thoughts as to why the change wouldn’t work. Micromanagers tend to have the mentality; it’s my way or the highway. Traditional micromanagers will completely disregard new concepts offered by their subordinates (Weyand, 1996). Work-related stress affected Dick’s job performance. It also was creating issues with his family as they felt abandoned while he spent countless hours at the office. Through trying to prove himself to leadership and to his new employees, Dick lost focus on other important matters. His management position required him to take on more responsibilities which demanded more of his time. â€Å"In order for supervisors and managers to excel and be a dynamic force in organizational life, job stress must be harnessed† (Stanley, 2014). As Dick noticed processes that needed to be changed he was unsuccessful in communicating those changes. As a manager being able to successfully communication is essential. Communication failure could potentially become a serious problem in an organization. Information is lost causing confusion reducing productivity and increases costs. In an article published by Jost (2006), he discusses several situations where failure to communicate resulted in some hefty financial costs to many companies. Dick was so focused on cutting costs that he forgot to look at the big picture. If he had effectively communicated his interest to cut costs with his supervisors and foreman, he could have potentially found a solution. Additionally, his relationships with his employees weren’t the best, which is another consequence of ineffective communication (Tunk, 2014). Now I’d like to focus on the following recommendations that could resolve Dick’s  micro-managing style, work-related s tress, and ineffective communication. To address Dick’s micro-managing style, he needs to be flexible in how the job gets done. Dick can delegate tasks that can be handled without his supervision and give them ample time to complete each task. He can do this by building trust, empowering his employees to be a part of the decision making process (White, 2010). Making rounds within the plant had a negative impact on employees. They were worried about what he was up to and why he kept coming around. There was a lack of trust. His presence caused everyone to be less productive in their jobs. The second recommendation is time management to address Dick’s work-related stress. It’s important for Dick to find a balance between work and family for the sake of his marriage and kids but also for his well-being. If Dick continues operating this way it could potentially lead to some serious health problems (Heikkia et al., 2013). To help him find this balance he needs to reevaluate what’s most important to him. Review his job duties that need to be completed and prioritize them. Identify the tasks that can be done by someone else and delegate those tasks (McDonald & Hucheson, 1998). Dick should also try to engage in outside activity that requires his complete attention. Research supports â€Å"that a psychological detachment from work effectively mitigates some of the negative effects of work-family conflict† (Moreno et al., 2009). My last recommendation is improving his communication skills. Dick was not successful in trying to implement a change in the process to discard scrap siding. The keys to effective communication is listening and learning. Effective communication improves work performance and productivity within the business. It also builds trust and creates transparency which is something Dick is currently lacking within the Modrow plant. Communication promotes collaborative work where everyone has an opportunity to share information (Tunk, 2014). If Dick were to implement these few changes I believe he would start reaping the benefits of his management role and overall increase morale at the plant. References Ainsworth, M., & Morley, C. (1995). The Value of Management Education: Views of Graduates on the Benefits of Doing a MBA. Higher Education, 30(2), 175-87. Dirks, K. T., & Ferrin, D. L. (2001). The Role of Trust in Organizational Settings. Organization Science, (4), 450. doi:10.2307/3085982. Feiertag, H. (2006). Product knowledge is key to improving group sales. Hotel & Motel Management, 221(8), 10. Foster-Pedley, J. (2013). Older and maybe just a little bit wiser.. Finweek, 12-13. Gyllensten, K., & Palmer, S. (2014). Increased employee confidence: A benefit of coaching. Coaching Psychologist, 10(1), 36-39. Heikkilà ¤, K., Fransson, E. I., Nyberg, S. T., Zins, M., Westerlund, H., Westerholm, P., & †¦ Kivimà ¤ki, M. (2013). Job strain and health-related lifestyle: Findings from an individual-participant meta-analysis of 118,000 working adults. American Journal Of Public Health, 103(11), 2090-2097. Hung, K., & Lin, C. (2013). More communication is not always better? The interplay between effective communication and interpersonal conflict in influencing satisfaction. Industrial Marketing Management, 42(8), 1223-1232. doi:10.1016/j.indmarman.2013.05.002. Jost, A. C. (2006). What We’ve Got Here Is†¦ FAILURE to Communicate. (cover story). Journal Of The Quality Assurance Institute, 20(4), 2-5. McDonald, B. D., & Hutcheson, D. (1998). Balancing work, family, work, self and work hurts employees. Business Press, 10(48), 29. Meyer, J. P., Paunonen, S. V., Gellatly, I. R., Goffin, R. D., & Jackson, D. N. (1989). Organizational Commitment and Job Performance: It’s the Nature of the Commitment That Counts. Journal Of Applied Psychology, 74(1), 152. Moreno-Jimà ©nez, B., Mayo, M., Sanz-Vergel, A., Geurts, S., Rodrà ­guez-Muà ±oz, A., & Garrosa, E. (2009). Effects of work-family conflict on employees’ well-being: The moderating role of recovery strategies. Journal Of Occupational Health Psychology, 14(4), 427-440. doi:10.1037/a0016739. Shore, L. M., & Martin, H. J. (1989). Job satisfaction and organizational commitment in relation to work performance and turnover intentions. Human Relations, 42(7), 625. Simpson, R., Sturges, J., Woods, A., & Altman, Y. (2005). Gender, Age, and the MBA: An Analysis of Extrinsic and Intrinsic Career Benefits. Journal of Management Education, 29(2), 218-247. Stanley, T. L. (2014). stress management for high achievers. Supervision, 75(5), 17. Stevenson, B. (2004). 4 Reasons Why Sales Fail. NZ Marketing Magazine, 23(1), 32-33. Tuck, P. (2014). A failure to communicate. Training Journal, 43-47. Weyand, J. (1996). Micromanagement: Outmoded or alive and well?. Management Review, 85(11), 62. White Jr., R. D. (2010). The Micromanagement Disease: Symptoms, Diagnosis, and Cure. Public Personnel Management, 39(1), 71-76.

Malaysia-Singapore Raltions

ABSTRACT Malaysia and Singapore have a unique and special relation due to the geography, ideology history, culture, , economy, politics and ethnicity factors. Even though with the unique and special factors, its sometimes create tensions between both countries. However, it is said that the relations between both countries have evolved from an inherently unstable into a more mature and positive relationship. This paper will be discussing the current major conflict issue which distressing relationship between both countries and also the resolve issue.This paper also will analyse the relationship during various Prime Minister and their foreign policy towards each other’s. Finally it will discuss why the relationship becomes warmer and the factor that influence the positive relationship. INTRODUCTION Singapore merged with Malaya, Sabah and Sarawak to form the Federation of Malaysia in 1963. However, this political union proved to be short-lived as Singapore was ousted from the Fed eration in 1965 due to political and ethnic differences.This failed political union, and the resulting stigma of separation has continued to cast a shadow over Singapore-Malaysia’s bilateral ties. Furthermore, due to the geographical proximity between these two states, bilateral problems are prone to exaggeration by both sides, often a case of â€Å"virtuous self and the stereotypical other†. Malaysia and Singapore relations are unique and special due to factors such as geography, history, politics, ideology, economy, culture and ethnicity. These factors sometimes have created tensions between both countries.The uniqueness of the relationship is reflected by the various terms used to describe the state of rivalry between the two countries such as â€Å"Siamese twins†, â€Å"sibling rivalry† or â€Å"family quarrel†, suggesting a complex love-hate relationship that has grown out of a shared common history and cultural background, coloured by politic al differences and, ironically, by economic competition and interdependency. DISPUTES AND SOLUTIONS KERETAPI TANAH MELAYU (KTM) – In 1990, Malaysia and Singapore had signed an agreement concerning Tanjong Pagar railway station.Malaysia had agreed to relocate the station to Bukit Timah to allowed development of the land that located in the premium area. On 24 May 2010, a meeting between Malaysian Prime Minister Najib Razak and his Singaporean counterpart Lee Hsien Loong in Singapore resolved the relocation issue. They announced that Malaysia's national railway company Keretapi Tanah Melayu Berhad (KTM) will be move out from Tanjong Pagar railway station and establish a station at the Woodlands Train Checkpoint (WTCP) by 1 July 2011.Malaysia also will relocate its customs, immigration and quarantine facilities from Tanjong Pagar to the WTCP to ensure the systematic and integrated border crossing facility between Malaysia and Singapore . A joint holding company (60 % Malaysia ow nership, 40 % Singapore) will then develop the abandoned KTM properties. WATER SUPPLY – Malaysia provides Singapore with about half its water. On 1 September 1961, the Federation of Malaya signed an agreement giving Singapore the right to draw up to 86 million imperial gallons (390,000 m3) of water per day with effect through 2011.On 29 September 1962, a further agreement was signed providing Singapore the right to draw up to 250 million imperial gallons (1,100,000 m3) per day from the Johore River, with effect through 2061. Both agreements stipulated the price of RM 0. 03 per 1,000 gallons. In turn, the Johor Government pays Singapore RM 0. 50 for every 1000 gallons of treated water. On 31 August 2011, the 1961 water agreement expired and the waterworks and facilities were handed over to the Johor state government.The handover included the Skudai and Gunung Pulai water treatment plants, which were built and managed by Public Utilities Board (PUB) for 50 years, as well as two pump houses in Pontian and Tebrau . JOHOR-SINGAPORE CAUSEWAY- The state of Johor currently already has developed ports including Pasir Gudang and Tanjong Pelapas. Under the former Mahathir administration, the Malaysian government scheduled to build a new customs, immigration and quarantine complex on a hilltop near the Johor Bahru railway station.A bridge is planned to link the new customs complex with the city square. The proposals on replacing the old causeway with a new bridge have resulted in a political rift between the two countries since the early 2000s. Singapore has hinted that it might agree to a bridge if its air force is allowed to use part of Johor's airspace. Malaysia refused the offer and negotiation is said to be still on going. In September 2003, Malaysia first announced its intention to replace its half of the Causeway with a new bridge.On 5 January 2004, Singapore's Foreign Minister Prof Jayakumar commented that it did not make sense for Singapore to replace its half of the bridge with a new bridge, as it would cost, along with revisions to customs, immigration and quarantine facilities, more than $500 million. On 2 February 2004, Malaysia said it would present Singapore with a new design for the proposed bridge to replace the Causeway, as Malaysia is still interested in building the new bridge.However, in September 2004, Malaysian Prime Minister Abdullah Badawi announced that Malaysia would defer the half-bridge project as part of its effort to pare down its huge fiscal deficit by deferring big ticket projects. In April 2006, Abdullah Badawi announced that Malaysia would drop the half-bridge project altogether. PEDRA BRANCA (PULAU BATU PUTIH) – On 21 December 1979 Malaysia published a new map which showed the island to be within its territorial waters.This ignited a 29-year territorial dispute which, together with the issue of sovereignty over the nearby maritime features of Middle Rocks and South Ledge, this disputes was presented to the International Court of Justice (ICJ) for resolution. On 23 May 2008 the ICJ ruled that Pedra Branca is under Singapore's sovereignty. THE CENTRAL PROVIDENT FUND (CPF) issue has still not been resolved after many years. It is hoped that the Malaysian Government will pursue the long standing issue pertaining to the dilemma of Malaysians who have left the republic for more than a decade and are still unable to withdraw their CPF savings.Under the present CPF withdrawal regulations, Malaysians from Peninsular Malaysia are only able to withdraw their CPF savings at the age of 50 if they have not been working in the republic for the last two years. The CPF law on withdrawal seems to discriminate against Malaysians from Peninsular Malaysia as other foreigners, including Malaysians from Sabah and Sarawak, are allowed full withdrawal of their CPF savings when they leave Singapore. Land Reclamations Issue – Singapore had extensively conducted the land reclamation activity within its territorial water.Plans for the Tekong reclamation project were made publicly available since 1991, and for the Tuas project, since 2001. Until January 2002 there is no objection from neighbouring country. However in 2002 Malaysia had objected the activity. After that, Malaysia embarked on two legal tracks to stop Singapore's land reclamation works. First, on 4 July 2003, Malaysia served notice to Singapore that it wanted arbitration to decide whether Singapore has the right to reclaim the land off Tuas and Pulau Tekong.This arbitration tribunal, comprising five members agreed on by both sides, was formed on 9 Oct 2003. Then, on 5 September 2003 Malaysia applied separately to the International Tribunal for the Law of the Sea (ITLOS) for an order on provisional measures, seeking to put an immediate stop to Singapore's reclamation works pending the setting up of the arbitration panel. The hearing took place between 25 and 27 Sep 03 in Hamburg, Germany. On 8 Oct 2003, ITLOS unanim ously decided that Singapore could continue its land reclamation activities.In April 2005, Singapore and Malaysia formally ended the reclamation dispute by signing a settlement agreement. FACTORS AFFECTING THE RELATIONSHIP BETWEEN MALAYSIA AND SINGAPORE Looking at the leadership style of both Prime Minister after the independent of Singapore, there is a high and low relationship which creating the foreign policy towards both countries. We can observed during the Tunku Abdul Rahman, Tun Abdul Razak and also Tun Hussein Onn, the relationship is calm and interdependent towards each other.During this era also, Mr Lee Kuan Yew as the Prime Minister His leadership style have a strong influence in the manner of bilateral issue between both countries. He is serious in dealing with the issue and also influence by his past experience and the pre and post separation political baggage. To show the difficulties in the relationship, Singapore first Deputy Prime Minister Mr Lee Hsien Loong says: à ¢â‚¬Å" its relationship with Malaysia is one of its important and complex foreign relation† And Tun Mahathir also had a remark that saying: it’s impossible to be friendly with Singapore because of the neighbouring city states unfriendliness towards Malaysia. Singapore gets into that kind of mood that they reject anything that comes from Malaysia. We try to be friendly as possible but it’s impossible† Relations with Singapore under Mahathir's tenure have been stormy. Many disputed issues raised during his administration have not been resolved. Many of these international issues have been raised up under Mahathir's Premiership term, but no significant headway had been made then to resolve them bilaterally.Both sides had stubbornly refused to compromise, with the result of bilateral relations turning frosty. Tun Abdullah Haji Ahmad Badawi became the fifth Prime Minister in 2003 and he was Dr Mahathir’s choice. Since Abdullah Badawi took over, bilateral relations between Singapore and Malaysia have undergone a sea change. Part of it was due to Abdullah warm personality, non-confrontational, consensus-seeking characters and sincere attempts to improve ties together with his policy are to give in to almost every request, and relations have begun to thaw.And this was reciprocated by Singapore leaders, as reflected in the flow of many senior Singaporean leaders to the funeral of Datin Seri Endon, Mr Abdullah’s latewife – which certainly went beyond the call of protocol. During Pak Lah era, few discussion has been made such as the causeway issue, air space issue and also the KTM land in Tanjong Pagar. They are trying to resolve the issue through the win-win situation. When Dato’ Seri Najib taking over the Prime Minister of Malaysia, the relationship is grow warming.The effort of Najib in clearing major bilateral issue concerning both countries make that relation becoming more mature and good. Since the effort of cle aring the implementation of the point of agreement (POA) which had been negotiated and agreed upon in 1990 which involved the KTM land in Tanjung Pagar that cleared in 2010, more bilateral relationship and opportunities is open. WARMING TIES BETWEEN MALAYSIA AND SINGAPORE There is several issue and factors that make the relationship between Malaysia Nad Singapore becoming warmer. The economic factor is one of the most important relations and always had a high degree of inter dependence.Malaysia and Singapore have been each other's main trading partners for many years. Data from Malaysia's Department of Statistics, for instance, show that bilateral trade between Malaysia and Singapore was valued at RM175. 5bil last year, up from RM161. 7bil in 2011. Malaysia remains Singapore's largest trading partner, while Singapore is Malaysia's second largest trading partner after China. Malaysia and Singapore economic interdependence is just not reflected in the bilateral trade only, it also inv olving the investment in both countries.From the data tabled by the Malays Malaysian Industrial Development Authority show that Singapore remains one of the top investors in the country, with total value of approved projects standing at RM2. 2bil last year, down slightly from RMRM2. 5bil in 2011 because of the global economic weakness. Singapore's investments in Malaysia are mainly concentrated in the manufacturing sector. Recently, the development of Iskandar had attracted the Singapore investors and that had make their investor is the largest single group of investor there which accounting about 17% of the total money invested there.In the other sides, Malaysia investors also actively invested in Singapore. It had been showed with involvement Malaysian company like YTL Corp, SP Setia and Selangor Dredging in real estate business, Maybank in financial sector, Axiata Group in telecommunication and also Genting Berhad in the leisure and hospitality sector. The government investment a rm from both country namely Khazanah from Malaysia and Temasek from Singapore also had form a joint venture in developing the commercial land parcels in Singapore such as Marina South and Ophir-Ophir .In Iskandar they are also establishing the joint venture company to invest in two wellness related project with a gross development value of RM 3b. To increase connectivity between both countries, few projects has been agreed and initiated. The extension of MRT from Singapore to Johore Bharu is planned to be built to reduce the traffic congestion in both entrance in Singapore and Malaysia. The High Speed Train from Kuala Lumpur to Singapore also planned to reduce travel time to 90 minutes. This infrastructure development also will increase the economic development in the area.In security and defence matters, both states share a serious concern over the emergence of JI in the region. They have coordinated on police work and intelligence sharing, and even synchronized the initial arrests of JI members in December 2001. JI members were imprisoned in both countries under the Internal Security Act (ISA), which both Malaysia and Singapore patterned after the British law that allows for detention without trial for up to two years for supposedly dangerous suspects. Also, both countries have put pressure on Indonesia to take a more active role in confronting the terrorism problem.In the military, several bilateral exercise and operation is conducted to reduce the crime in Straits of Malacca, Eyes in The Sky Operation is jointly conducted to scout the strait for pirates. The flights are undertaken by crews with nationals from the different countries so they can better share information. Intelligence gathered on pirates is also disseminated among governments, including on a Web-based network for quick and easy access. These actions, taken together, made it far more costly and difficult for the pirates to operate.Both military forces also involve in the Five Power Defence Ar rangement that are a series of defence relationships established by a series of bilateral agreements between the United Kingdom, Australia, New Zealand, Malaysia and Singapore signed in 1971, whereby the five states will consult each other in the event of external aggression or threat of attack against Peninsular Malaysia (East Malaysia is not included as part of the area of responsibilities under the FPDA) or Singapore. FACTORS THAT MAKES THE RELATIONSHIP GROWING TIES The first factor is the leadership role and function. With the new eneration of leader ship which is the second generation of previous leader, Najib is son of Tun Abd Razak and Lee Hsien Loong is son of Lee Kuan Yew, they are trying actively to resolve the bilateral issue of both countries. With the new generation thinking they realised the interdependence both country each many matters. The second factor economic interdependence which shows that both country are main trading partner each other. Malaysia also inviting the investors from Singapore to invest in the economic development project initiate in many region in Malaysia such as IRDA, ECER and also NCER.The encouragement by both governments through their public and private sector to collaborate with their counterpart shows there relationship will going stronger. The third factor is massive people to people contact which encouraging tourist from both countries visiting each other will develop this contact. This will created necessary goodwill and tolerance among others. This also had been expanded through sport activity which we can see that the football team from both countries is participating in the league. CONCLUSIONWe can conclude that due to their historical, cultural linkages and their geographical proximity Malaysia and Singapore had enjoyed and share a special relationship. The issue and challenge between each other had brought a god point for both countries to sit down and discussing the way to move forward. Both of the leaders ar e aware the important of each other in many factors. Both new generation leaders is trying hard to improve the relationship with each other’s even though there is a few issue that not resolve yet.But their mutual agreement in developing economic sector each other shows the positive prospect towards very warm relationship. Both leaders also seem in the same view in settling issue through win-win situation and compromise. With the realisation by the leaders in win-win situation and compromising each other, it may lead towards prosperous relationship in the future. It’s the leader and their foreign policy which is determining the future of these relations. Thus, the leader should take every effort to ensure the warming of the relationship is preserve to ensure the mutual benefits.The security and military activities is to be enhanced to ensure the safety of both countries. With the firm security the development of economy can be planned and develop towards higher level. W ith the interest of Singapore investors in IRDA is high, it is not possible Singapore will extend the security watch in the area to ensure safety of their investment. Thus this will benefit both countries towards long and warm relationship. Despite all the bilateral issue, it is observed that, both country is dependant each other in economy, social, and also security aspect.With that the warming relations that initiated by both the new generation leader is a good step towards more close relation. 3117 words Reference: Ganesan, 2005, p. 58 Rusdi Omar, et. al. (2005). Hubungan Malaysia-Singapura Era Mahathir. Sintok: Penerbit Universiti Utara Malaysia. p. 2. Joint statement by Prime Minister Lee Hsien Loong and Prime Minister Dato' Sri Mohd Najib Tun Abdul Razak at the Singapore-Malaysia Leaders' Retreat on 24 May 2010, 24 May 2010, , retrieved 2010-05-25 Water Conflicts Between Malaysia and Singapore. Wikipedia the Free Encyclopedia Star. (1999). June 5. p. -2. 1961 water agreement w ith Johor expires on Wednesday. The Straits Times. 14 October 2011 â€Å"Johor-Singapore Causeway†. Wikipedia Rusdi Omar. 2007. Malaysia-Singapore Relations: Issues and Strategies. Working paper presented at the International Conference on Southeast Asia in 3-4 December 2007 at University of Malaya, Kuala Lumpur, Malaysia M'sia Stops Construction Of Bridge To Replace Johor Causeway. Prime Minister's Office, Malaysia. 12 April 2006. Pedra Branca, Singapore. Wikipedia Solve CPF Withdrawal Issue With Singapore. The Star Online. 12 November 2008 Kyodo News. (2005).Singapore and Malaysia resolve land reclamation dispute. April 26. http://www. channelnewsasia. com/stories/singaporelocalnews/view/144527/1/. html Rusdi Omar, Mohd Ainuddin; Mas Juliana Mukhtarudin. 2005. Malaysia-Singapore Relations During Mahathir’s Era. Sintok, Kedah: UUM News Straits Time. (2003). May 5. p. 22. Asian Economic News. (2002). Oct 14. p. 19 Malaysia’s Foreign Relations: Issues and Challen ges. Ruhanas Harun. Page 24 The Star (2013) Mac 16 Malaysia-Singapore Relations: Never Mind the Rhetoric . Anthony L. Smith. October 2004 ——————————————– 1 ]. Ganesan, 2005, p. 58 [ 2 ]. Rusdi Omar, et. al. (2005). Hubungan Malaysia-Singapura Era Mahathir. Sintok: Penerbit Universiti Utara Malaysia. p. 2. [ 3 ]. Joint statement by Prime Minister Lee Hsien Loong and Prime Minister Dato' Sri Mohd Najib Tun Abdul Razak at the Singapore-Malaysia Leaders' Retreat on 24 May 2010, 24 May 2010, , retrieved 2010-05-25 [ 4 ]. Water Conflicts Between Malaysia and Singapore. Wikipedia the Free Encyclopedia [ 5 ]. Star. (1999). June 5. p. 1-2. [ 6 ]. 1961 water agreement with Johor expires on Wednesday. The Straits Times. 14 October 2011 [ 7 ]. Johor-Singapore Causeway†. Wikipedia [ 8 ]. Rusdi Omar. 2007. Malaysia-Singapore Relations: Issues and Strategies. Working paper presented at th e International Conference on Southeast Asia in 3-4 December 2007 at University of Malaya, Kuala Lumpur, Malaysia [ 9 ]. M'sia Stops Construction Of Bridge To Replace Johor Causeway. Prime Minister's Office, Malaysia. 12 April 2006. [ 10 ]. Pedra Branca, Singapore. Wikipedia [ 11 ]. Solve CPF Withdrawal Issue With Singapore. The Star Online. 12 November 2008 [ 12 ]. Kyodo News. (2005). Singapore and Malaysia resolve land reclamation dispute.April 26. http://www. channelnewsasia. com/stories/singaporelocalnews/view/144527/1/. html [ 13 ]. Rusdi Omar, Mohd Ainuddin& Mas Juliana Mukhtarudin. 2005. Malaysia-Singapore Relations During Mahathir’s Era. Sintok, Kedah: UUM [ 14 ]. News Straits Time. (2003). May 5. p. 22. [ 15 ]. Asian Economic News. (2002). Oct 14. p. 19. [ 16 ]. Malaysia’s Foreign Relations: Issues and Challenges. Ruhanas Harun. Page 24 [ 17 ]. The Star (2013) Mac 16 [ 18 ]. Ibid [ 19 ]. The Star (2013) Mac 16 [ 20 ]. Ibid [ 21 ]. Malaysia-Singapore Relations: Never Mind the Rhetoric . Anthony L. Smith. October 2004

A peak detector

Ac voltage to DC voltage and reduces the disturbance. The function can be explained as follow. The capacitor stores the current peak voltage.If he input voltage is larger, the op-amp output goes positive until the capacitor is charged up to the new peak value. If the input voltage is smaller, the diode keeps the capacitor from being discharged. This peak value of voltage that is stored on the capacitor will remain until this capacitor is discharged by a mechanical or electronic switch. Components of peak detector circuit Peak detector circuit consist of two operational amplifiers (op amps), by first op amps on diode Dn is connected in parallel manner and another diode Dp is connected in series manner.And this op amp is connected to the voltage supply. Another op amp and capacitor is connected with this circuit in series. A reset switch is added to the circuit by which the value of peak value that is stored on capacitor A resistor is connected between two op amps. When choosing the re sistor, the limits must be considered: rdf 12 l/fc, where fm is the modulation Frequency and fc is the carrier frequency. Working of peak voltage circuit: The typical peak detector uses voltage amplifiers and a diode or an emitter follower to charge the hold capacitor, CH, unidirectional.The diode conducts positive half cycles, charging the capacitor to the peak voltage value. When the input waveform falls below the DC peak voltage value stored on the capacitor, the diode is reverse biased, blocking current flow from capacitor back to the source. Initially the capacitor discharge(O V) by resetting the A that is negative in situation, Dp blocks current, TOB current is provided by 10 ohms and diode reverses leakage from drain capacitor and stop the output signal. If input inverting input exceed the voltage of the capacitor, he output of B races up to a positive value and current flows through Dp .The voltage drop of the diode is negated due to feedback voltage being after the drop. Th e capacitor charges until it has reached Vin or when Vin drops below its capacitor's voltage at the time of which A goes back into the negative saturation. The capacitor slowly discharge through the reset. This is a major source of droop on fast or low duty cycle signals since it will discharge some before. The next wave peak A- is a unity gain output buffer that prevents the next stage from draining the capacitor.

Summary of Tatars Text Essay Example | Topics and Well Written Essays - 1000 words

Summary of Tatars Text - Essay Example The frustration in her heart infuriates her and gets her to the pavements along the streets. As she fantasizes on the best and desired life out of punishment and maltreatment by the dad, she gets into visions. The visions were linked to the effects of the condition she was in, hypothermia, but some counted real. She sees her grandmother in the tale as the only person who cared and never mistreated her in her life. And this has been part of her greatest desires ever in this irritating lifestyle. The conditions set for her going back home from the streets where she sold the matchboxes deprived her of any good reason to live under the sun. This forms the basis of her fantasies (Behrens and Rosen, 296-297). The frustration of the imagination of the situation of how it could be at home when she gets home without selling the expected amount of boxes gets her down into deep fantasies. She gets down onto a place within the street where she lights the matches as she visions her situation and links it to the desires that she wants to happen in her life. She lights her matches as she sees the Christmas tree as gorgeous and appealing to the soul. She then sees a falling star from the skies and this reminds her of the story the grandmother told her before she died. It was a signal that a person would die and was to be in heaven in a happy life. Of course, this is what she desires for. This thought of someone important dying and going to heaven does not scare her, and she surges on to light the next matchstick.

Assignemnt Essay Example | Topics and Well Written Essays - 2000 words

Assignemnt - Essay Example Entrepreneurs face several problems and difficulties while planning to start a new business in a new country. Entrepreneurs need to proper research regarding start of a business in a foreign country in a proper way in order to be successful. â€Å"A typical analysis will cover the history of the industry, including discussions of key dates, historic growth patterns, and other matters† (Smith). In this paper, we will discuss ten most relevant problems and difficulties that an entrepreneur in the U.A.E, particularly in Dubai, can face while going on to start a new restaurant. Ten Most Influencing Difficulties for Entrepreneurs Some of the commonly observed difficulties which entrepreneurs are likely to face in the United Arab Emirates include finding relevant information, inadequacy of information, obtaining trade license, developing taste for local people, recruiting key workers, cultural problems, increase in the competition, reduced inflow of foreigners, less capital, and div erse customer base. Let us discuss all of these issues in some detail in order to get a better understanding of how these problems affect entrepreneurs. ... It is a common misperception that the financial recession has only impacted the financial markets. While there is no doubt that the impact has been very severe on the financial markets, but there has been a very severe impact on the consumer sector as well. The sectors such as construction, automobile, textile, and food have also suffered because of the financial crisis. â€Å"With the recent hit by the global economy crisis, many have lost their daily jobs during that period† (Goh). Therefore, we can say that the recent economic crisis has not only put an adverse impact on different sectors and industries but also it has affected the employment conditions of almost every country. Dubai and the Recent Economic Crisis Dubai is that part of the world, which was heavily affected by the current economic recession. The most affected sector in Dubai was real estate. â€Å"The real estate bubble that propelled the frenetic expansion of Dubai on the back of borrowed cash and speculat ive investment, has burst† (Lewis). Many companies had to stop their large-scale construction projects due to adverse impact of economic crisis on the economy of Dubai. A large part of the government’s spending was also in the real estate construction and development sector. With this decrease in the flow of capital, the economy of Dubai became relatively slow. Therefore, this is also an important factor why most of the entrepreneurs find it difficult to invest in Dubai now because investment in the restaurant business heavily relies on stable economic conditions. Restaurant Business The restaurant business has a great cultural significance when it comes to Dubai. This is because the city has always been marketed as

The Need for Management Accounting Information Essay

The Need for Management Accounting Information - Essay Example Management accounting is a branch of accounting that provides accounting information for use by the management internally (Drury 7). Sharma duly notes that the accounting information provided by management accountants is utilized in decision making by a firm (Sharma 100). The information forms a basis for informed decisions to be made. It is imperative to have the relevant information before making decisions especially those that have immense impacts on the fortunes of an organization. Concrete management decisions, if based on reliably generated management information, can ensure profitability (Riahi-Belkaoui 28). Management information simplifies complex accounting phenomena drawn from different disciplines, classify them and present them in a way that managers can understand and, consequently, make informed decisions. Okoli asserts that the value of making the right decisions cannot be overstated; it is extremely valuable than indecision and, certainly, more desirable than wrong d ecisions (Okoli 53). For a profit making organization, the indecision of a manager is as bad as making the wrong decision. This paper delves into the impact that management accounting information has on a management decision making hoping to show the need for managers to be furnished with this kind of information. In an effort to achieve that objective this paper starts by highlighting the characteristics of management accounting information and differentiating it from financial accounting information.

Critically discuss using empirical evidence, the various reasons for Essay

Critically discuss using empirical evidence, the various reasons for Foreign Direct Investment - Essay Example The effect of FDI on host economies has been the subject of extensive research. As pointed out by Hanson (2001), both theory and empirical evidence provide mixed results on the net welfare effect of inward FDI on recipient countries. The attitude towards inward Foreign Direct Investment (FDI) has changed considerably over the last couple of decades, as most countries have liberalized their policies to attract investments from foreign multinational corporations (MNCs). In fact FDI has proved to be resilient during financial crises. For instance, in East Asian countries, such investment was remarkably stable during the global financial crisis of 1997-98. This crisis mainly involved four basic problems (CRS Report, 1998): Economists argue that the primary cause of the crisis was too much government intervention in economic activity, leading to misdirected and inefficient investments in both public and private projects. As an aftereffect of the crisis short-term capital inflows were viewed as unstable and thus dangerous; long-term capital movements were seen as stable and thus desirable. Therefore an emphasis was put on de-emphasizing short-term capital inflows and encouraging long-term capital inflows, especially FDI which was seen as directly enhancing domestic productive capabilities. There’s one school of thought which puts the blame for this crisis on FDI itself. They argue that the crisis had shown that over-reliance on FDI carried its own dangers. Rapid FDI inflows had been a major factor enabling these countries to maintain their overvalued exchange rates. No doubt such exchange rates helped keep domestic inflation under control, but they also increased East Asian vulnerability to specu lative attacks. And therefore it was the drying up of FDI, largely as a result of competition from lower wage countries (especially China) and the mobility of regional investment by

WHAT IS ARISTOLES VIEW IN VIRTUE Essay Example | Topics and Well Written Essays - 500 words

WHAT IS ARISTOLES VIEW IN VIRTUE - Essay Example First of all, according to Aristotle, moral virtue is defined by action, or in short, â€Å"we learn by doing them† (II.1). This means that virtue is not inherent in man’s nature but that man possesses the potentiality to practice virtue. Virtues are not an inborn quality of man but rather something that is acquired through practice. In the Ethics, Aristotle gives an example: â€Å"By doing the acts that we do in our transactions with other men we become just or unjust† (II.1). This means that a man is known as just not because of his nature but because he has demonstrated justice to others through his own acts. No one can say someone is good unless that someone has done good deeds. For Aristotle, action must precede virtue and character. It is therefore not that man is doing good things because he is good – but rather man is good because he is doing good things. The idea of defining virtue as an action-based principle would then imply that its demonstration is actually a matter of choice (II.3). The idea of ascribing virtue as subject to man’s choice now becomes the basis of responsibility. Furthermore, Aristotle explains this by showing that virtue concerns itself with pleasures and pains and that it seeks the advantageous, the noble and the pleasant while it seeks to avoid the base, the injurious and the painful (II.3). Therefore, for Aristotle, virtue is something that is utilitarian or pleasure-seeking and pain-avoiding, unlike vice, which is its opposite. Although people would generally equate vice with evil, and virtue with goodness, Aristotle clarifies the meaning of virtue by defining it as a mean between two vices, one an excess and the other a lack: â€Å"Virtue is a kind of mean, since, as we have seen, it aims at what is intermediate† (II.6). For example, in terms of appetite, the vice of lacking pleasure

Voting Rights and the United States Supreme Court Essay

Voting Rights and the United States Supreme Court - Essay Example When the United States Constitution was ratified in 1788, suffrage was not discussed in the text, except by reference to the age of qualification to hold certain office, and by mention of the census, for which Native Americans were excluded and African Americans were to be counted as three-fifths of a white man for the purpose of this head count. The management of elections was a right given over exclusively to the States (The Constitution, Art. 1, Sec. 4). It was left to the Bill of Rights, Article 9, Section 2, to specify that voting was only for white males over twenty-one years of age. The Constitution’s lack of specifics left the States to establish their own brand of voting rights, or non-rights in most cases. Religion was a common restriction on suffrage, including holding Office of any kind. Delaware’s Constitution denied Jews, Quakers and Catholics the right to vote or hold office by providing an oath to be taken before voting. Said oath required one to profess a Christian belief in specific way (Delaware Constitution). There were no cases addressing this issue brought before Chief Justice John Jay during the first term at the Supreme Court and the religious prohibitions stayed in place until 1810 with no help from the Court (U.S. Voting Rights). In fact, it wasn’t until 1810 that the Supreme Court found any State law unconstitutional (Fletcher). The U.S. Constitution, Article 3, states, â€Å"(t)he judicial power of the United States shall be vested in one Supreme Court and in such inferior courts that the Congress may from time to time ordain and establish.† Couple this with the fact that the Court consists of nine judges, not elected but appointed by the President of the United States for a lifetime term, and there is created a body that may pick and choose which cases to hear and through which they impact the lives of everyone living under its jurisdiction. The Court is loathe to decide a case on constitutional grounds w hen there are other issues that will decide the case, a well established principle according to the Court in Escambia. Thus there may have been many voter rights cases we have never heard about simply because the Supreme Court would not rule on a State’s right to set out its own voting guidelines and disenfranchise certain types of citizens. There is a dearth of cases dealing with voting rights issues for the first fifty years of the court’s existence. It wasn’t until Williams v. Mississipi, decided in 1898, that the Supreme Court specifically address a constitutional challenge to a State’s voting restrictions and the court found no discrimination in a poll tax nor a literacy test. It took an Act of Congress to fill in some of the gaps. Legislative response was to pass the Fifteenth Amendment to the Constitution and provide that the right to vote could not be denied a citizen based on â€Å"race, color or previous condition of servitude.† It was pr oposed in 1868 and ratified in 1870 as a direct response to Reconstruction Era politics that pitted some (mainly Southern) States against the Federal Government. Congress spoke and the right to vote in elections was open to all adult males aged twenty-one and over. However, the States were finding ways around the literal interpretation of the Fifteenth Ame

Definition Love Essay Example | Topics and Well Written Essays - 500 words

Definition Love - Essay Example Love makes us feel appreciated because we get a lift whenever we experience it. Something as simple as saying â€Å"I love you† can mean so much to the person who is receiving it. If this was said by anyone else then it would not have any strong connotations, yet the words come alive when they are said by someone who we have true feelings for. We feel wanted and accepted when someone decides to share their love with us. This love does not just have to by in a physical way—it could be from someone who is simply a friend. The different levels of love derive from the person or people that it is being shared with. Love between a couple and love between two friends are not on the same level. One goes to a deeper level while the other is rather barely scratches the surface. Love helps develop character in us because we truly understand what it is to trust someone else completely. It is only when we learn to love others that we can truly appreciate them for who they are. While love may be the most obvious virtue, there are other traits that can develop out of love. Characteristics such as patience, kindness, and forgiveness all come from the feelings of love that we have with one another. These are traits that cannot be taught but have to be learned through the process of loving someone else unconditionally. Finally, love gives us a reason to live because it gives us hope that something better is always out there. Without a reason to live, many people give up because they feel that they have no hope. It does not matter whether someone is rich or poor; everyone needs to feel loved so that they feel part of humanity. Love is the greatest gift that we can give to someone because it is freely given and freely received.  Ã‚  

Diabetes WA Research Paper Example | Topics and Well Written Essays - 1500 words

Diabetes WA - Research Paper Example The support of the NDSS is also shown carefully in this paper. In this particular paper most of the information are taken from the diabetes WA website and from some relevant secondary sources like books, journals and online reviews. Introduction: The Diabetes WA is a noble organization which is been helping people since long time in Western Australia. However, to have a strong position within the market the proper and suitable funds are required and at the same time the awareness must be distributed accordingly to attract more people towards it. The advertising and the marketing communication tools play a vital role in this matter. The proper advertising strategy is a must to keep the sustainability intact within the market for a longer time. The target group, micro and macro environmental factors are very much important in this scenario. It is very important to understand that no matter how strong a company is, but if it doesn’t have the potential to reach the target customer s or the target group then all of its strength will be lost very soon. Industry background: Diabetes is one of the most dangerous diseases in the medical field. It can create many problems like feeling weak, Wight loss, etc. the type 2 1 diabetes can be very stressful, it can have major effects on the human health (Weiner et al; 2003, 197). Diabetes has become a most common disease in Australia. It is been predicted that the diabetes would affect more than one million people in Australia (Hastings 2007, 322). It has been seen that one hundred and fifty people are diagnosed with diabetes every day in Australia. There are basically two types of diabetes and they are type 1 and type 2 diabetes. Among these, the type 2 diabetes is the fastest growing form of diabetes (Hastings 2007, 322). And this type of diabetes is mostly seen among the adults who are aged above forty. In the recent time almost 7 percent of the population in Australia had been detected with diabetes and it was predict ed that it would be almost 3.3 million Australians would carry diabetes within 2031 (Diabetes WA annual report 2010, 4). Within this industrial back ground a proper advertising strategy is very much important for the organization to attract the target group. The DAGMAR approach is important in this scenario and the innovative promotional activities are also very vital. From these figures it is very clear that the diabetes industry is growing very fast and it is taking a shape which is huge enough to rule the medical industry as well as the pharmaceutical industry. However, in this case the main mission of the Diabetes WA is not to create more diabetic patient it basically to help the people to prevent the diabetes. There are many micro and macro environmental factors are involved in this factor. The diabetes is a chronic disease and it can be fetal in some cases. However, the growth of the diabetes depends on many factors like living style, food habit, sugar intake etc. the macro an d micro environmental factors are very much involved in this case. And all these factors are closely related with the advertising strategies. The advertising campaign is basically to build the brand awareness about the NDSS and Diabetes WA. The growing industry and the growing number of diabetic people in the Western Australia have given a great potential to this particular advertising campa

Definition Essay Essay Example for Free

Definition Essay Essay Ambition; a strong desire to do or to achieve something, typically requiring determination and hard work. Many people have different ambitions in life so the word ambition would have different definitions, depending on whom you ask. To me ambition is a burning urge and desire to achieve your goals or succeed. Ambition applies to dedication, motivation and time. I have many ambitions to achieve in a set period of time. For example my education, I would like to complete my Bachelors in Electrical Engineering within four years. Within time motivates me to achieve my ambitions of obtaining that bachelor degree. Ambition in other words is the motive force needed to propel all of us to work towards our set cherished goals. It is the dynamic inner force that has led people from all walks of life to cleave to a new path, set a new vision and fight through hurdles to win with honor. Try and try again. You have to fail early to be able to succeed. As Bruce Lee once said â€Å"you have fall down 7 times get up 8.† That never-say die attitude is ambition. Many athletes in the collegiate level have a desire to be eligible to play their sport and make a living off of it. Nothing is handed to a person, they work their buttocks off and put in countless hours of practice and pride into what they do. Acknowledging the hard work and struggles that an athlete goes through shows their desire and passion for what they do and why they love it. Ambition is built into a person, a person who wants to become successful and to be able to provide for not only their selves but for their family. My personal ambition is contingent on my professional aspirations. My personal ambition is to be able to give back to my parents for all they have done to support my sister and me. I have always had the ambition to be able to make enough to support for them in the future and give them anything they want. My ideal happiness is to pay off the mortgage for the house and see the happiness in both of their faces. The desire to become successful and to be able to provide for my parents applies to my  uncle who is also an electrical engineer that lives in California. My uncle is able to provide for his two kids and his stay at home wife. They own a 5 bedroom house in San Diego and they are living luxurious. Seeing my uncle being able to provide gives me the ambition to become successful as he is and do the same. Obviously, ambition here has a healthy role to play. Engineering has always been my forte. I love designing and building and to be able to do it with electricity is humbling. 4 Years of my life is required to be eligible for my bachelors and it is something that I am looking forward too. Having the guidance of my uncle and other successful peers gives me a sigh of relief and eagerness to finish and be able to hold that diploma in the end keeps me going. Risking countless hours of studying, all-nighters, and no social life will be financially rewarding in the end. I have to stay humble. My parents expectations did affect me because I saw how hard they worked to bring me up and make my life easier. My family has nurtured me in a respectable way of life. That is why I have chosen to become an EE because it fulfills my ambition and is pleasing to my parents by me making a decent living. Therefore, one of my ambitions will be achieved because EE blends an ethically satisfying job and a healthy contentment to my life. Being able to travel and experiencing new outcomes will be a blessing in disguise. Accomplishing my short term and long term goal will be something I look forward to in life. Once those goals are accomplished, new goals will be made and the ambition to accomplish those goals will take way. Ambition is a powerful word that has a powerful meaning in my life. A brief description on ambition is to be able to accomplish what is desired. I have an ambition to accomplish my goals and to be able to provide for my parents and myself. My ambition to become successful in life takes place in my heart. If I work hard for what I want, then I’ll be able to take pride on for what I worked for. Ones action should be directed towards the nations prosperity. I should strive hard honestly, sincerely and with dedication to achieve it. The hard work should pay off and the journey to my bachelor’s degree should be a tough battle, nothing is given but is earned.

Agricultural Wage †Productivity Relationship Analysis

Agricultural Wage – Productivity Relationship Analysis A STUDY ON AGRICULTURAL WAGE – PRODUCTIVITY RELATIONSHIP WITH REFERENCE TO GROUNDNUT CROP IN CHITTOOR DISTRICT (ANDHRA PRADESH) Dr. E. Lokanadha Reddy, Abstract— The increase in production and productivity are influencing agricultural wages. But the results of empirical studies have shown a positive relationship between real wages and productivity. It is also observed that the real wages seem to have declined or remained stagnant in spite of increasing agricultural production. However, a close relationship may be found between wages and productivity. There are number of studies on the agricultural sector in Chittoor district. But the research on agricultural wage – productivity relationship is very limited. This paper aims to study the Agricultural Wage – Productivity Relationship with reference to Groundnut crop in Chittoor district, Andhra Pradesh. An attempt has been made to study the relationship between wages and yield, output price of major crop ‘Groundnut’ for entire district as a whole. A regression model is used to study the relationship. In the present study, the relevant secondary data fo r explanatory and explained variables is collected from the Census of India 1991 : Population Census and also from handbook of statistics and other unpublished official records of the Chief Planning Officer, Chittoor. The primary data required is collected through field survey : 1998-99. In case of female agricultural labour, regarding the lagged yields, the rate of increase in real wages (0.19) is twice as compared to that of money wages. This increase in real wages over money wages reveals that the economic position of the female agricultural labour may be increased due to raise in lagged yields. Owing to the lagged price, the rate of increase in real wages of female agricultural labour (0.39) as compared to the female agricultural money wages (1.41) is approximately one forth. This result shows that about 3/4th of the monetary gains of the female agricultural labour has been taken away by consumer price rise. From this rate of increase in real wages, it may be concluded that the real economic position of the female agricultural labour has been deteriorated marginally. The same variables for the male population is studied and analysed . Further, the same was calculated separately for the three revenue divisions of Chittoor District. Keywords- Agricultrual Productivity; Female Money Wagerate; Female Real Wagerate; Male Money Wagerate; Male Real Wagerate; Regression Co-efficients; I. Introduction The term agricultural productivity we mean the varying relationship between the agricultural output and one of the major input such as land. The most commonly used term for representing agricultural productivity is the average yield per hectare of land. After the introduction of modern agricultural technique along with the adoption of hybrid seeds, extension of irrigation facilities and application of intensive methods of cultivation in India, yield per hectare of all crops has recorded a steep rising trend. Agricultural productivity in India has undergone an abrupt change in the Post-Green Revolution period. But the fruits of green revolution were mostly available to some particular states only, as the introduction of new agricultural strategy was very much restricted into some particular states like Punjab, Haryana and Western Uttarpradesh. Thus while the agricultural productivity in all other states remained more or less static or increased slowly but the agricultural productivity of some crops in those particular states adopting new agricultural strategy has increased substantially. All these had led to a high degree of inter-state differences in agricultural productivity in the country. The condition of Indian agriculture still largely remains backward although it is considered as the backbone of the Indian economy. Agriculture productivity which is composed of both productivity of land and labour as well, is among the lowest in the world. Average yield per hectare in India is quite below the world average in all crops. It is much lower as compared with even the yield rates prevailing in less advanced countries of the world. With the introduction of economic planning in India, although some steps have been undertaken for improving the conditions of agriculture, its conditions have not changed much. In subsistence farming, the relation between wages and productivity is not like that in the modern sector where additional labour is employed to increase output and we imagine an employer equating wages with the marginal product. Wages and productivity are related in the sense that wages are paid out of total product, which depends upon productivity. The increase in production and productivity are influencing agricultural wages. But the results of empirical studies have shown a positive relationship between real wages and productivity. It is also observed that the real wages seem to have declined or remained stagnant in spite of increasing agricultural production. However, a close relationship may be found between wages and productivity. There are number of studies on the agricultural sector in Chittoor district. But the research on agricultural wage – productivity relationship is very limited. Hence an attempt is made to study the Agricultural Wage – Productivity Relationship with reference to Groundnut crop in Chittoor district, Andhra Pradesh. II. OBJECTIVES The following is the objective of the study: To study the Agricultural Wage – Productivity Relationship with reference to Groundnut crop in Chittoor district, Andhra Pradesh. III. METHODOLOGY An attempt has been made to study the relationship between wages and yield, output price of major crop ‘Groundnut’ for entire district as a whole. Therefore the following regression model is proposed to study the relationship. Y = a+ b X1 +c X2 (1) Where, Y = Real/money wagerate X1 = Lagged yield (Quintals per hectare) X2 = Lagged price (Rs. Per quintal) a, b and c are the constants. Both the linear and log-linear models have been estimated to the above model and it is decided that the log – linear model yields good results. Hence, the analysis has been carried out to log – linear model only. The log – linear model is as follows : logY = a+ b logX1 +c logX2 (2) In the present study, the relevant secondary data for explanatory and explained variables is collected from the Census of India 1991 : Population Census and also from handbook of statistics and other unpublished official records of the Chief Planning Officer, Chittoor. The primary data required is collected through field survey : 1998-99. IV. FINDINGS It is proposed to study the relationship between wages with yield and output prices per quintal of groundnut. Between the linear and log-linear estimates; log-linear model gives better results than the linear estimates. The equation (2) given in the methodology is estimated. The results were analysed based on log-linear estimates for the entire district as a whole. The estimated regression equation for female money wagerate is Y = -7.2169 + 0.0821 X1 +1.4356* X2 (0.2840) (0.1258) R2 = 0.9064 , F = 76.8136* * Significant at 5 per cent probability level. The two estimated regression co-efficients of lagged yield (X1) and lagged price (X2) are positive. It means, the effect of these two variables on money wagerate (Y) is positive. An increase in these two variables will increase the female money wagerate in Chittoor district. An increase in one unit of lagged yield will increase the female money wagerate by 0.08 units, but this increase is not significant. Similarly, an increase in one unit of lagged price will increase the female money wagerate by 1.44 units. This increase is significant. Hence, female money wages are influenced by changes in the yield and prices of output. One unit increase in output would result in more than one unit increase in money wage showing the improvements in real wages. With respect to the groundnut yield, the positive co-efficients of yield implying that wages are influenced by changes in the yields. It indicates that the benefits of technology has not reached the agricultural labourers at significant lev el. This indicates that the benefits which accrued to the groundnut farmers through a rise in the output prices also percolated to the agricultural labourers. The co-efficient of constant or intercept is -7.2169. It means the factors which are not considered in the model shows negative effect on female money wages. The collective effect of the two independent variables – X1 and X2 is shown by the value of R2. The value of R2 is 0.9064. It indicates that 90.64 percent of variation in female money wagerate is observed by these two independent variables. The value of R2 is significant. The estimated regression equation for female real wagerate is Y = -4.392 + 0.1886 X1 +0.3938* X2 (0.1505) (0.0666) R2 = 0.7541 , F = 51.4269* * Significant at 5 percent probability level. The two estimated regression co-efficients of independent variables – X1 and X2 are positive. It means the effect of these two variables on female real wagerate (Y) is positive. An increase in these two variables will increase the female real wagerate in Chittoor district. An increase in one unit of lagged yield will increase the female real wagerate by 0.19 units. But this increase is not significant. Similarly, an increase in one unit of lagged price will increase the female real wagerate by 0.39 units. This increase is significant. Hence, female real wages are influenced by changes in the yield and prices of output. The co-efficient of constant or intercept is -4.392. It means, the factors which are not considered in the model show negative effect on female real wages. The collective effect of the two independent variables – X1 and X2 is shown by the value of R2. The value of R2 is 0.7541. It indicates that, 75.46 percent of variation in female real wagerate is obser ved by these two independent variables. The value of R2 is significant. The estimated regression equation for male money wagerate is Y = -6.8562 + 0.0901* X1 +1.4094* X2 (0.0349) (0.0155) R2 = 0.8982 , F = 70.5855* * Significant at 5 percent probability level. The two estimated regression co-efficients of lagged yield (X1) and lagged price (X2) are positive and significant. It means the positive relationship is observed between independent variables X1 and X2 with dependent variable (Y). An increase in these two variables will increase the male money wagerate in Chittoor district. An increase in one unit of lagged yield will increase the male money wagerate by 0.09 units. But this increase is significant. Similarly, an increase in one unit of lagged price will increase the male money wagerate by 1.41 units. This increase is significant. Hence, male money wages are influenced by changes in the yield and prices of output. One unit increase in groundnut price would result in more than one unit increase in money wage showing the improvements in real wages. The positive and significant co-efficient of yield reveals that wages are influenced by changes in the yield. It mean the benefits of technology have reached the agricultural labourers at s ignificant level. It indicates that a rise in the output prices is beneficial to the groundnut farmers which in turn effects the agricultural labourers. The co-efficient of intercept is -6.8562. It means the factors which are not considered in the model show negative effect on male money wages. The collective effect of the two independent variables X1 and X2 is shown by the value of R2. The value of R2 is 0.8982. It indicates a variation of 89.82 percent in male money wagerate is observed by these two independent variables. The value of R2 is significant. The estimated regression equation for male real wagerate is Y = -0.2138 – 0.0513 X1 +0.3252* X2 (0.0189) (0.0835) R2 = 0.6702 , F = 16.267* * Significant at 5 percent probability level. The estimated co-efficient of lagged yield (X1) is negative and insignificant. It means the negative relationship is observed between X1 variable and male real wagerate. An increase in the lagged yield will decrease the male real wagerate in Chittoor district. The estimated co-efficient of lagged price (X2) is positive and significant. It means the effect of independent variable (X2) on male real wagerate is positive. An increase in the lagged price will increase the male real wagerate in the district. An increase in one unit of X1 variable will decrease the male real wagerate (Y) by 0.05 units. But this decrease is not significant. Similarly, an increase in one unit of X2 variable will increase the male real wagerate (Y) by 0.33 units. This increase is significant. Hence, male real wages are affected by changes in the yield and prices of output. The co-efficient of constant is -0.2138. It means the factors which are not considered in the model show negative effect on male real wages . The collective effect of the two independent variables X1 and X2 are shown by the value of R2. The value of R2 is 0.6702. It indicates that, 67.02 percent of variation in male real wagerate is observed by these two independent variables. The value of R2 is significant. V. CONCLUSIONS In case of female agricultural labour, regarding the lagged yields, the rate of increase in real wages (0.19) is twice as compared to that of money wages. This increase in real wages over money wages reveals that the economic position of the female agricultural labour may be increased due to raise in lagged yields. Owing to the lagged price, the rate of increase in real wages of female agricultural labour (0.39) as compared to the female agricultural money wages (1.41) is approximately one forth. This result shows that about 3/4th of the monetary gains of the female agricultural labour has been taken away by consumer price rise. From this rate of increase in real wages, it may be concluded that the real economic position of the female agricultural labour has been deteriorated marginally. Whereas for male agricultural labour, in case of lagged yield is observed that there is a decreasing trend in male real wages (-0.05) and an increasing trend in male money wages (0.09). This results indicates that the declining trend in real economic position of the male agricultural labour. With respect to the lagged price, the rate of increase in real wages of male agricultural labour (0.32) as compared to the male money wages (1.41) is just marginal. This results tells that about 3/4th of the monetary gains of the male agricultural labour has been taken away by consumer price rise. From this rate of increase in real wages, it may be concluded that the real economic conditions of the male agricultural labour has been decreased marginally. references Misra, V.N., and Gupta, S.B.L. (1974). Productivity, wages and its determination in Gujarat Agriculture : An Inter-District Analysis. Indian Journal of Agricultural Economics, vol.XXIX, No.3, July-September, pp.22-34. Pandey, R.K., and Dixit, U.N. (1974). Inter-Temporal Analysis of Productivity and Wages of Farm Labour in Ferozepur District (Punjab). Indian Journal of Agricultural Economics, vol.XXIX, No.3, July-September, pp.34-40. Pandey, V.K., and Pandey, R.N. (1974). Trends in Agricultural Wages in Uttar Pradesh. Indian Journal of agricultural Economics, vol.XXIX, No.3, July-September, pp.70. Sisodia, J.S. (1974). Trends in Agricultural wages in Madya Pradesh. Indian Journal of agricultural Economics, vol.XXIX, No.3, July-September, pp.73. Raju, V.T. (1974). Impact of Green Revolution on Wages and Incomes of Hired Labour in IADP District., West Godavari. Indian Journal of agricultural Economics, vol.XXIX, No.3, July-September, pp.74. Prudhvikar Reddy, P. (1998). Trends in Agricultural Wages : An Inter-Regional Analysis in Andhra Pradesh. Economic and Political Weekly, vol. XXXIII, No.13, March 28, pp. A.15-A.19. Sidhu, H.S. (1988). Wage Determination in the Rural Labour Market – The Case of Punjab and Haryana. Economic and Political Weekly, Review of Agriculture, December, 24th – 31st, pp.A.147-A.150. Kalpana Bardhan, (1973). Factors affecting Wagerates for Agricultural Labourers. Economic and political weekly, vol.VIII, No.26, June 30, pp.A.56-A.66. Pandey, S.M. (1973). Wage Determination in Indian Agriculture : An Empirical Analysis. Indian Journal of Industrial Relations, vol.9, July, pp.83-99. Singh, M.L., and Singh, K.K. (1974). Factors Determining Agricultural Wages – A Case Study. Indian Journal of Agricultural Economics, vol.XXIX, No.3, July – September, pp.54-60. Paramar, B.D. (1981). Wage Determination in Developing Economy : The case of Gujarat Agriculture. The Indian Journal of Labour Economics, vol.XXIII, No.4, January, pp.231-240. Pushpangdan, K. (1993). Wage Determination in a Casual Labour Market : The Case of Paddy field Labour in Kerala. The Indian Journal of Labour Economics, vol. XXXVI, No.1, January – March. Acharya, Sarthi. (1989). Agricultural wages in India : A Desegregated Analysis. Indian Journal of Agricultural Economics, vol.44, No.2. Gough, J.W. (1971). Agricultural Wages in Punjab and Haryana. Economic and Political Weekly, vol.VI, No.13, March.27. Grewal, S.S., and Bal, H.S. (1974). Impact of Green Revolution on Agricultural Wages in the Punjab. Indian Journal of Agricultural Economics, vol.XXIX, No.3, July-September. Jose, A.V. (1974). Trends in Real Wage Rates of Agricultural Labourers. Economic and Political Weekly, vol.IX, No.13, March. Jose, A.V. (1988). Agricultural Wages in India. Economic and Political Weekly, vol.23, No.26, June. Krishnaji, N. (1971), Wages of Agricultural Labour. Economic and Political Weekly, vol.6, No.30, September. Parthasarathy, G., and Adiseshu. (1982). Rural Wages of Agricultural Labour in Andhra Pradesh – Two Decades of Stagnation. Economic and Political Weekly, vol.XVII, NO.31. Rao, V.M. (1972). Agricultural Wages in India – A Reliability Analysis. Indian Journal of Agricultural Economics, vol.XXVII, No.3, July – September. Acharya, Sarthi, and Papanak, G.F. (1989). Agricultural Wages and Poverty in India – A model of Rural Labour Markets. Asian Centre Discussion Peer, No.3, CADS, Boston University, Boston, U.S.A. AUTHORS PROFILE

The Behavioral Segmentation Examples Marketing Essay

The Behavioral Segmentation Examples Marketing Essay According to Philip Kotler Market segmentation is sub-dividing a market into distinct and homogeneous subgroups of customers, where any group can conceivably be selected as a target market to be met with distinct marketing mix. In other words, Market Segmentation is a method of dividing a market into smaller groupings of consumers or organizations in which each segment has a common characteristic such as needs or behavior. Finding the most revealing way to segment a market is more an art than a science Any useful segmentation scheme will be based around the needs of customers and should be effective in revealing new business opportunities. Peter Doyle All markets are heterogeneous. This is evident from observation and from the proliferation of popular books describing the heterogeneity of local and global markets. Consider, for example, The Nine Nations of North America (Garreau, 1982), Latitudes and Attitudes: An Atlas of American Tastes, Trends, Politics and Passions (Weiss, 1994) and Mastering Global Markets: Strategies for Todays Trade Globalist (Czinkotaet al., 2003). When reflecting on the nature of markets, consumer behavior and competitive activities, it is obvious that no product or service appeals to all consumers and even those who purchase the same product may do so for diverse reasons. Effective marketing and business strategy therefore requires a segmentation of the market into homogeneous segments, an understanding of the needs and wants of these segments, the design of products and services that meet those needs and development of marketing strategies, to effectively reach the target segments. Thus focusing on segments is at the core of organizations efforts to become customer driven; it is also the key to effective resource allocation and deployment. The level of segment aggregation is an increasingly important issue. In todays global economy, the ability to customize products and services often calls for the most micro of segments: the segment of one. Following and implementing a market segmentation strategy allows the firm to increase its profitability, as suggested by the classic price discrimination model, which provides the theoretical rationale for segmentation. The most common B2B segmentation techniques used by software companies are: SEGMENTING BY HORIZONTAL DISTINCTION A horizontal market is a market so diversified that its products and/or services are broad enough to meet the needs of multiple industries. The audience for horizontal markets shares characteristics across industries. Based on the scope of horizontal markets, the marketing efforts that support them must reach this spectrum of buyers and prospective buyers. Because horizontal markets are broad, marketers often segment them into subsets. These groups are typically based on demographic factors such as the prospects income, location or job title. Horizontal Segmentation Example To use telcos as an example they will even further segment their buyers and prospects to address specific needs. To increase sales of home Internet services, they can target a specific subgroup, such as senior citizens, low income users or parents with school-age children. SEGMENTING BY SIZE Because the demands of business-to-business customers are so polarized, a common tactic is to segment markets based on company size. Companies do this because the thinking and strategies behind a larger company is typically radically different from the approach of a smaller business. Larger businesses typically employ a more formal procurement process seeking the lowest bid possible. Small businesses tend to learn towards a more personal and inclusive type of business arrangement. Sometimes, leveraging basic information like the size of the company, its annual revenues, or the business own clientele roster will tell you how you may or may not work together. In some case you can be even more specific and count the number of installs of your software the company could potentially buy. Size Segmentation Examples   Targeting companies who see $500 million/year in revenue. Only targeting the largest companies in your region based on number of employees. I spent a long time in the contact center software space. We sold by number of agent seats. If a company had more than 500 agent seats they were enterprise and if they had less than 500 seats, they were mid-market. SEGMENTING BY VERTICAL If a product fulfills a common need thats widely seen across an industry then vertical segmenting is used. Ineffective for most consumer markets, vertical segmenting is an effective strategy when working with a niche product geared for a niche industry. Single industries like that and other industries commonly identified by Standard Industrial Classification (SIC) system are often identified as vertical segments. Determining the end function of business customer tells how and at what level in the supply chain a companys product will be used. And this knowledge drives how the company positions and marketsits product. Its a simple question how and by whom will my product be used? A hanger warehouse may only target companies in the retail industry, a graphic software firm may only target design departments or design houses, while a supply chain management developer may count freight companies among his prospects. Vertical Segmentation Examples   A navigation software vendor that only focus on the cruise or trucking industries. A gauge manufacturer that only services the automotive industry Selling exclusively to wholesalers in a vertical industry (combined segmenting) Identifying a department function within a larger corporation SEGMENTING BY GEOGRAPHY While geographic segmenting is often used to leverage characteristics shared by a population living in the same region, small businesses, those with capacity limitations, and consumer-driven companies often use geographic criteria to target prospects. As a Silicon Valley-based company, you may not be able to service prospects west of a designated time zone. Or even more specific, you may segment your prospects to a select number of surrounding zip codes. Very plainly, where are your customers concentrated? Once you understand this data, youll no longer want to focus on any other geographic information. These same criteria can (and should) be applied to other geographic factors including population growth rates, economic factors, and isolated spoken language. Geographical Segmentation Examples   Introducing a unique product for the same unique geographic segment. A promotional campaign targeting one region to increase sales. SEGMENTING BY BEHAVIOR Very simply, this segmenting targets prospect groups based on their buying behavior. How are your customers using your product, how often are they using it, and what is the challenge your prospects face? Those questions, coupled with the propensity of your prospect to actually pull the buy trigger, are the cornerstone of behavioral segmenting. Other behavioral segmenting rules may include brand loyalty, order sizes, and any purchase procedure requirements. Behavioral Segmentation Examples A software company that releases a product geared for early technology adopters. A travel agency targeting travelers who prefer vacationing during the Christmas holiday. Between 80 and 90% of software startups fail within the first three years, depending on how failure is defined. While they mostly run out of money, the root of the problem is often poor marketing, specifically poor segmenting and targeting. Most people think of marketing as promotion through events, advertising, social media, direct email, or viral methods. But those activities, correctly and collectively known as marketing communications, are the very last marketing activities that should be done. Marketing is better described as bringing the right product to the right market at the right price at the right place. If this function is executed poorly, nothing else matters and nothing else can be done to fix the problem. No amount of promotion or creative sales technique will save a company that practices poor segmenting and targeting. A common mistake, made by open source and proprietary software companies alike, is to create something and then look for a market that will buy it. The company that designs a product and then enters the market looking for a customer will struggle. The company that first asks potential customers about their most pressing problems and then designs a compelling product to solve one of these problems is far more likely to succeed, even more so if the problem is a priority to the customer. Unfortunately, software companies tend to have a technology bias rather than a market bias. Why do so many software companies get this wrong? And more importantly, what can they do to get it right, or at least as right as possible? There are a number of reasons why poor marketing is prevalent, including technology arrogance, lack of market information, indecision, and ignorance of segmenting and targeting. The latter is particularly common, and in open source and other software communities, it generally takes the form of creating differently priced product feature sets, licensing, and support packages for different target segments. That kind of segmenting only starts to be successful after a company becomes well established and has enough customers that meeting their differing needs becomes a priority. A new open source company trying to go to market for the first time should instead focus on developing a clear idea of who they are selling to, what their customers problems are and why the customers would use this product over any other. Pricing models should clearly serve t he needs and preferences of that single target. Ideally, a company should identify their target market and the value they bring to it before their product even enters the design stage. But that rarely happens. At a minimum, they should have a market in mind before they take the product to market. It is less important that the target market is the absolute right one than it is to have a target market that is more or less in the right direction. If there is no target to aim for, there is no way to measure progress or success. If there is no target market, it is impossible to build critical mass or penetration. And, trying to sell into multiple segments to see which one works the best usually fails as the company will run out of time and money before finding the answer. Segmentation Challenges In Business-To-Business Market Business-to-business markets are characterized in a number of ways that makes them very different to their consumer cousins. Below summarizedare the main differences between consumer and business-to-business markets, and set out the implications for segmentation: B2B markets have a more complex decision-making unit:  In most households, even the most complex and expensive of purchases are confined to the small family unit, while the purchase of items such as food, clothes and cigarettes usually involves just one person. Other than low-value, low-risk items such as paperclips, the decision-making unit in businesses is far more complicated. Segmenting a target audience that is at once multifaceted, complex, oblique and ephemeral is an extremely demanding task. Do we segment the companies in which these decision makers work, or do we segment the decision makers themselves? Do we identify one key decision maker per company, and segment the key decision makers. In short, who exactly is the target audience and whom should we be segmenting? B2B products are often more complex:  Just as the decision-making unit is often complex in business-to-business markets, so too are b2b products themselves. Even complex consumer purchases such as cars and stereos tend to be chosen on the basis of fairly simple criteria. Conversely, even the simplest of b2b products might have to be integrated into a larger system, making the involvement of a qualified expert necessary. Whereas consumer products are usually standardized, b2b purchases are frequently tailored. This raises the question as to whether segmentation is possible in such markets if every customer has complex and completely different needs, it could be argued that we have a separate segment for every single customer. In most business-to-business markets, a small number of key customers are so important that they rise above the segmentation and are regarded as segments in their own right, with a dedicated account manager. Beneath these key customers, however, lies an array of companies that have similar and modest enough requirements to be grouped into segments. B2B target audiences are smaller than consumer target audiences:  Almost all business-to-business markets exhibit a customer distribution that confirms the Pareto Principle or 80:20 rule. A small number of customers dominate the sales ledger. Nor are we talking thousands and millions of customers. It is not unusual, even in the largest business-to-business companies, to have 100 or fewer customers that really make a difference to sales. Personal relationships are more important in b2b markets:  A small customer base that buys regularly from the business-to-business supplier is relatively easy to talk to. Sales and technical representatives visit the customers. People are on first-name terms. Personal relationships and trust develop. It is not unusual for a business-to-business supplier to have customers that have been loyal and committed for many years. There are a number of segmentation implications here. First, while the degree of relationship focus may vary from one segmentation to another, most segments in most b2b markets demand a level of personal service. This raises an issue at the core of segmentation everyone may want a personal relationship, but who is willing to pay for it? This is where the supplier must make firm choices, deciding to offer a relationship only to those who will pay the appropriate premium for it. On a practical level, it also means that market research must be conducted to provide a full understanding of exactly what relationship comprises. To a premium segment, it may consist of regular face-to-face visits, whilst to a price-conscious segment a quarterly phone call may be adequate. B2B buyers are longer-term buyers:  Whilst consumers do buy items such as houses and cars, which are long-term purchases, these incidences are relatively rare. Long-term purchases or at least purchases, which are expected to be repeated over a long period of time are more common in business-to-business markets. In addition, the long-term products and services required by businesses are more likely to require service back up from the supplier than is the case in consumer markets. A computer network, a new item of machinery, a photocopier or a fleet of vehicles usually require far more extensive aftersales service than a house or the single vehicle purchased by a consumer. Businesses repeat purchases (machine parts, office consumables, for example) will also require ongoing expertise and services in terms of delivery, implementation/installation advice, etc that are less likely to be demanded by consumers. In one sense this makes life easier in terms of segmentation. Segments tend to be less subject to whim or rapid change, meaning that once an accurate segmentation has been established, it evolves relatively slowly and is therefore a durable strategic tool. The risk of this is that business-to-business marketers can be complacent and pay inadequate attention to the changing needs and characteristics of customers over time. This can have grave consequences in terms of the profitability of a segment, as customers are faced with out-of-date messages or benefits that they are not paying for. B2B markets drive innovation less than consumer markets:  B2B companies that innovate usually do so as a response to an innovation that has happened further upstream. In contrast with FMCG companies, they have the comparative luxury of responding to trends rather than having to predict or even drive them. In other words, B2B companies have the time to continually re-evaluate their segments and CVPs and respond promptly to the evolving needs of their clients. B2B markets have fewer behavioral and needs-based segments:  The small number of segments typical to b2b markets is in itself a key distinguishing factor of business-to-business markets. A review of over 2,500 business-to-business studies shows that B2B markets typically have far fewer behavioral or needs-based segments than is the case with consumer markets. Whereas it is not uncommon for an FMCG market to boast 10, 12 or more segments, the average business-to-business study typically produces 3 or 4. Part of the reason for this is the smaller target audience in business-to-business markets. In a consumer market with tens of thousands of potential customers, it is practical and economical to divide the market into 10 or 12 distinguishable segments, even if several of the segments are only separated by small nuances of behavior or need. This is patently not the case when the target audience consists of a couple of hundred business buyers. The main reason for the smaller number of segments, however, is simply that a business audiences behavior or needs vary less than that of a (less rational) consumer audience. Whims, insecurities, indulgences and so on are far less likely to come to the buyers mind when the purchase is for a place of work rather than for oneself or a close family member. And the numerous colleagues who get involved in a B2B buying decision, and the workplace norms established over time, filter out many of the extremes of behavior that may otherwise manifest themselves if the decision were left to one person with no accountability to others. It is noticeable that the behavioral and needs-based segments that emerge in business-to-business markets are frequently similar across different industries. Needs-based segments in a typical business-to business market often resemble the following: A price-focused segment, which has a transactional outlook to doing business and does not seek any extras. Companies in this segment are often small, working to low margins and regard the product/service in question as of low strategic importance to their business. A quality and brand-focused segment, which wants the best possible product and is prepared to pay for it. Companies in this segment often work to high margins, are medium-sized or large, and regard the product/service as of high strategic importance. A service-focused segment, which has high requirements in terms of product quality and range, but also in terms of aftersales, delivery, etc. These companies tend to work in time-critical industries and can be small, medium or large. They are usually purchasing relatively high volumes. A partnership-focused segment usually consists of key accounts, which seeks trust and reliability and regards the supplier as a strategic partner. Such companies tend to be large, operate on relatively high margins, and regard the product or service in question as strategically important. Some Common Traps of Segmenting Customers Segmentation is the action not the objective Segmentation has to stem from clear objectives and strategy. All too many businesses are still picking through the leftovers of static, research-based segmentation projects based on little more than executive philosophy. With no financial modeling to back them up, no wonder these projects failed. The Smart Marketers Handbook (circa 1970) may well say segment or die but that doesnt mean segmentation works or that it has to be the same for every business. Too big to handle To make segmentation easy to grasp, its all too tempting to split the marketplace into a few simple customer segments. For instance, five to ten segments makes it all straightforward enough for a business to understand, and large enoughà ¢Ã¢â€š ¬Ã‚ ¨to allow economies of scale in product development. However, its no help with customer management or value engineering. After all, for any large business, some of the segments could contain millions of consumers. Thats hardly getting close to the customer! The frozen state Another key requirement of most legacy segmentation approaches is stability. If an organization is going to create a few large segments and develop propositions for them, the last thing they want is a customer jumping from one segment to another. That means segments are designed to be static, or frozen. Businessesà ¢Ã¢â€š ¬Ã‚ ¨can then measure performance over time and be confident about returnà ¢Ã¢â€š ¬Ã‚ ¨on investment. But the awkward customers keep getting in the way. They will insist on changing: age, jobs, homes, marital status, parental status, consumption to name but a few. Fixed state segmentation fails to reflect the dynamic behavior of customers and becomes increasingly irrelevant in marketing campaigns. Problems with referencing Market research can be a wonderful thing, but when an individual focus is needed it becomes less helpful. Unfortunately, many companies rush into segmentation by starting with market research. Customers and prospective customersà ¢Ã¢â€š ¬Ã‚ ¨are asked what they want, need and do, and the research project then builds segmentation models. However, once a company starts referencing these segments back to the existing and prospective customer databases it hits some serious problems: The only way to create references, within the rules of the Marketing Research Society on respondent anonymity, is to set up algorithms using common data and recreates the segments on the database. However, if you didnt start with the database itself, there will be very few common items to draw upon. The scoring process therefore becomes very unsophisticated and insensitive, and the chance of placing more than 50% of customers into the right segments with anything above 70% probability are quite slim. That means companies can spend years (and millions) picking up the pieces. The solution is to start with your own data, and any data from a third party, to build the segmentation upwards. Once youve identified the key variables, then you can do the market research. Differentiation or just different colored envelops? The best segmentation framework in the world will still not deliver a return if a business cannot conceive and execute worthwhile strategies. After all, whats the point in having segments if the customer experience is hardly different across each one? All too often organizations think the best use of segmentation is in creating different communications for different groups of people. Frankly, if thats the only reason for segmentation, its not worth the expense. It creates minimal difference, and wont justify the cost. At the end of the day segmentation can only pay for itself by delivering lower conversion costs, higher prices and improved margins. True segmentation means different propositions for different customer groups, not just different colored envelopes in their direct mail. Poor resource allocation and ROI assessment All too often organizations allocate resources by product or business function. Yet if you are serious about segmentation, you need to follow a scientific method to allocate resources and assess returns across different segments. One challenge to this is, of course, the fact that segments are not stable. How can you allocate suitable resources if customers shift segments? The answer for many organizations is to only segment at the macro level, for example: By geography By sector By consumer / B2B Segment bleed this sector is not for you Segmentation may look good on paper, but customers are forever breaking out of their segments. If someone from the Medium Size segment takes a shine to a proposition developed for Small Size Segment, you dont want to turn their business down. Yet this can ultimately damage a brand, particularly in a mature market. Segmentation isnt monotheism Segmentation is most powerful when it addresses a specific problem. Moreover, as most businesses face many problems, segmentation must be multi-dimensional. Value, needs, behavior, product, demographics, customer state, preference, credit segmentation can take any number of approaches, making your organization as flexible as possible to meet business challenges. One hurdle to overcome is the senior executives preference for simpler, easy to understand concepts. Todays marketer has to be able to explain and demonstrate the benefits of multi-dimensionality against seductively simpler segmentation. Some examples of failed products because of faulty segmentation: BPL Contributor Jim Lawless. The product BPL Batch Programming Language Interpreter. Why it was judged a commercial failure I sold about 10 copies. What went wrong I didnt really do enough research to find out if the target market was in existence. I was hoping that network admins and support staff members would find it easier to use than batch files and less complicated than any of the free scripting language options available. So, I just rushed to get the MVP  [1]  (Minimum Viable Product) out the door. I never did provide a compiler that would build a stand-alone EXE. I think that might have met with more success. I didnt do much as far as advertising the existence of the product. Time/money invested I only spent a few weeks coding and documenting it in my spare time. Support issues sometimes took a whole evening, but nothing major. It did not have any impact on my finances, as I had invested nothing but my time. Current product status I will still address support issues with this product for registered users, but I dont actively sell it. Ive open-sourced the program and it still really isnt seeing heavy use. Comments: Here the contributor does recognize that there was a need for a proper market analysis before investing time and efforts in developing the product. The product developed did not have a clear market to cater to and had some essential features missing which the segment to which it was marketed needed. Another reason for the failure of the product could be that it was focused on a very small niche. DRAMA Contributor Andy Brice. The product DRAMA (Design RAtionaleMAnagement) was a commercialization of a University prototype for recording the decision-making process during the design of complex and long-lived artifacts, for example nuclear reactors and chemical plants. By recording it in a structured database this information would still be available long after the original engineers had forgotten it, retired or been run over by buses. This information was believed to be incredibly valuable to later maintainers of the system, engineers creating similar designs and industry regulators. The development was part funded by 4 big process-engineering companies. Why it was judged a commercial failure Everyone told us what a great idea it was, but no one bought it. Despite some early funding from some big process engineering companies, none of them put it into use properly and we never sold any licenses to anyone else. What went wrong? Lack of support from the people who would actually have to use it. There are lots of social factors that work against engineers wanting to record their design rationale, including: The person taking the time to record the rationale probably isnt the person getting the benefit from it. Extra work for people who are already under a lot of time pressure. It might make it easier for others to question decisions and hold companies and engineers accountable for mistakes. Engineers may see giving away this knowledge as undermining their job security. Problems integrating with the other software tools that engineers spend most of their time in (e.g. CAD packages). This would probably be easier with modern web-based technology. It is difficult to capture the subtleties of the design process in a structured form. A bad hire. If you hire the wrong person, you should face up to it and get rid of them. Rather than keep moving them around in a vain attempt to find something they are good at. We took a phased approach, starting with a single-user proof of concept and then creating a client-server version. In hindsight it should have been obvious that not enough people were actively using the single-user system and we should have killed it then. Time/money invested At least 3 man-years of work went into this product, with me doing most of it. Thankfully I was a salaried employee. But the lack of success of this product contributed to the demise of the part of the company I was in. Current product status The product is long dead. Comments: In addition to what the entrepreneur mentioned about what went wrong with the product, we can see that the early adopters (4 companies) are not stable customers. From what the entrepreneur has mentioned, it does seem that the four big companies were approached without having a product. How do you measure the effectiveness of the segmentation process? Net Marketing Contribution Marketing profitability is based on an investment in marketing and sales required to achieve certain levels of sales and gross margins. Net marketing contribution is a financial measure of marketing profitability and is computed as shown below: Net Marketing Contribution = Segment Size x Market Share within Segment x Product Price x Product Margin Marketing Expenditure Net Marketing Contribution for Segment NMC for segment = Segment Size x Market Share within Segment x Product Price x Product Margin Marketing Expenditure Marketing Return on Sales for segment = NMC for segment/Sales for Segment Marketing ROI for Segment = NMC for Segment/ Marketing Expenditure for Segment How exactly are companies segmenting? The trends in the product development process of companies as per our survey results is shown below If we see the result according to the size of the respondent companies the small and medium companies show the below trend The large companies showed the below trend The two most important factors when deciding a segment for all the companies were the value proposition fit and then the revenue potential of the segment, the size of the segment in terms of importance came after the aforementioned factors. The general trend across companies shows that Vertical and Horizontal segmentation are the most important basis for targeting segments, the next most important basis is the size of the clients. However, there is a clear variation in this trend according to the size of the companies. For the large companies the most important basis for targeting segments is the business vertical, Horizontal distinction and size of the clients share the position of being sec