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Ways to Care for Our World

HOW TO TAKE CARE OF OUR WORLD?? An increased in population also gives a bad impact on our world. World getting more and more compact. The natural environment encompasses all living and non-living things occurring naturally on earth or some region thereof. As the world getting older,the environment keep on polluted day by day. In order for us to live in a better condition,we need to contribute ourselves towards saving our world. There are several ways to overcome the problems which are involving air,water,plant life and wildlife.

Air pollution is the main subject to be discussed because air is important in our life. Taking a clean air into account will provide us an enough amount of oxygen without being polluted. However air available now contain many foreign particles and can harm people. This can be avoid by using public transport like LRT,bus and taxi or sharing the vehicles with friends. Besides lowering the pollution level,one can save their fuel and will not trapped in the traffic jam. Water makes up almost 70% of the world and play an important roles in human life.

Without water human will not be able to survive because human need enough water everyday. Once the water was polluted then the human will be infected to disease. Everyone have to be rational by not to dispose all the wastes into the river and save the water as much as possible. Reuse the water whenever possible like collect the rainwater and use it to wash car,dishes and clothes. Human also must limit their time in the shower and turn the water off while brushing the teeth. A 3R campaign should be carry out nationwide to expose people towards the effort to save te world.

Curbside recycling and reusable grocery bags are examples of this campaign that can minimise the usage of plastics. People are also advised not to use bottle water as the plastic take a longer time to decompose. Old newspaper must be recycled so that it will not be wasted and also can reduce the amount of trees being cutdown to extract it to make papers. Nowadays,global warming and climatic change always be the main issue all over the world. Global warming refer to an increased in temperature of the earth because of the presence of carbon dioxide,carbon monoxide and so on at the atmosphere.

All this gases will trap the heat from the sunlight and will change the temperature. In order to overcome this problem,people should limit their time on the computer and turn off not needed lights or fans. Other than that it can be prevented by using a compact fluorescent lights. Wildlife and plant life are very important as they make up a stable relationship between living and non living organisms. For me,government should banned and gives a heavier fine for those involve in illegal deforestation. The effort of opening the Taman Negara should be raise up as this is one of the way to save animals on the earth.

Infact,some animals can be save from being extinct. Plant life is also important because plant can reduce the amount of carbon dioxide at the atmosphere. We have to preserve our forest from being destroyed because it can provide a better environment. In conclusion, conservation and preservation of the earth must be take seriously into account because this is the only way to perpetuate the stability of the world. In my opinion all the people must give a cooperation and supports all the campaign held by the government. The world today is definitely not a paradise

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Would You Consider Labourdonnais as an Exceptional Governor of Isle de France? Discuss

WOULD YOU CONSIDER LABOURDONNAIS AS AN EXCEPTIONAL GOVERNOR OF ISLE DE FRANCE? DISCUSS It was in 1715 that the French claimed the island and named it Isle de France. Several governors have been appointed in the island; however, none of them have been able to succeed in developing the island. It was only when Mahe de Labourdonnais came as the governor of the island that the island began to develop and Labourdonnais was even able to make Isle de France a prosperous colony.

Labourdonnais is even considered as the greatest governors of Isle de France “As a colonial administrator, Labourdonnais stands out among French Governors. ” (V. Teelock, 2009) In June 1735 under the French East India Company rule, Bertrand Mahe de Labourdonnais was appointed as the governor of Isle de France. When he came to Isle de France, Labourdonnais came with a baggage of experience and achievement which fitted him well for this post. The fact that he had many connections in the Indian Ocean also worked in his favor. According to Hazareesingh, Labourdonnais was a man of tireless energy and considerable visions.

Labourdonnais was a hard worker and he also expected the others to work as hard as him. Labourdonnais had a full understanding of the commercial and strategic positions of Isle de France in the Indian Ocean. When he came to Isle de France, Labourdonnais saw his role as a governor consisting of two main tasks. The first task was to satisfy the immediate needs and interest of the Mascarene Islands, to develop them into permanent and flourishing colonies. It was in this prospect that he developed a commercial port-and strategic naval base in Isle de France.

The second task was to make use of the resources available in the Mascarene Islands in order to meet the demand imposed by the broader strategic needs of France in the coming struggle for power. The first task of Labourdonnais when he came to the island was the construction of the city around the harbor. In fact, Labourdonnais has successfully implemented the plan elaborated by Cossigny which was left idle. Labourdonnais has brought architects and skilled workmen from Madras who had the task to execute the plans that Cossigny has drawn up.

As a matter of fact, Labourdonnais has spent the first five years of his governorship in developing the infrastructure of Port Louis and the island. He built better roads, stores and a hospital (Civil and Military hospital) “which he visited personally each day for over a year to check that it was running efficiently” (J. Addison and K. Hazareesingh, 1990). Fortifications and batteries were built around Port Louis. By 1740, Port Louis had a well equipped and constructed harbor which was run by a harbor department staffed with a variety of skilled men.

As a governor, Labourdonnais did not neglect the need of the population and thus he tired to provide some facilities to the population such as the aqueduct which brought fresh water supply from the Grand River North West. Labourdonnais also took the decision to move the main administrative headquarters from Bourbon Island to Isle de France thus making Isle de France the main administrative centre. A Government House and an official residence ‘Mon Plaisir’ for the Governor were constructed. The official residence for the governor was built at Pamplemousses.

Apart from developing the infrastructure of the island, Mahe de Labourdonnais also tried to develop the agricultural domain of the island. According to Hazareesingh, Labourdonnais gave every encouragement to agriculture and particularly to the growing of food crops. In fact, Labourdonnais encouraged agriculture as the food situation in the island was precarious to the extreme and the colony was near starvation. Labourdonnais gave special concessions to the planters and he encouraged them to plant maize.

There were also experimental crops which were grown on his estate. One of the greatest successes of Labourdonnais in agriculture according to historians was the introduction of cassava which was brought from Brazil. The introduction of cassava in the island was a great success as the island’s climate was ideal for its cultivation and it stood up well to the frequent cyclones. Sugar cultivation began to spread slowly in the island and it was not before long that the first sugar factory was built in the island by Labourdonnais’ brother at Villebague.

Labourdonnais also encouraged other food cultivation such as maize and other cereals, potatoes and other vegetables, rice, cotton and Indigo. During his governorship, Labourdonnais also established internal order. In fact, the runaway slaves were menace for the public security. Thus Labourdonnais attempted to remedy to the situation by organizing according to Hazareesingh what seemed to be an early example campaign against terrorist tactics. “Part of the islands’ garrisons was given the special task of patrolling the forests to track down the runaway” (J.

Addison and K. Hazareesingh, 1990). The soldiers were even trained by hunters and men with experienced in order to look for runaway slaves. As a result, by 1740, Labourdonnais reported that there were not more than twenty male runaways in the whole of Isle de France. Labourdonnais was an exceptional governor of Isle de France as according to the figures, the population of the island has increased from 1000 to 3000 when Labourdonnais was the governor of the island. However, after the departure of Labourdonnais, the island has faced many problems and weather crises.

According to Toussaint, despite the fact that after Labourdonnais’ departure, he had many successors, none of them were able to equal Labourdonnais’ achievements. On a conclusive note, it can be said that indeed Labourdonnais was an exceptional governor of Isle de France as he was the only governor who have been able to make Isle de France become a flourishing island despite the weather conditions and other problems he had to face. In fact, Mahe de Labourdonnais was the one who has set the first steps for the island’s prosperous future. ?

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Administrative Ethics Paper

Administrative Ethics Paper HCS335 April 17th, 2011 Administrative Ethics Paper Organizations today are constantly under watch because of Health Insurance Portability and Accountability Act (HIPAA). Today an organization must take specific measures to protect an individual’s private health information. As technology advances with the coming future, protection as become increasing difficult, covering all the basis and guidelines brought forth by HIPAA laws. A major concern of the federal government is an intended or unintended breach of HIPAA regulations. Along with HIPAA, came the creation of the Privacy Rule.

The Privacy Rule according to Mir, (2011), “restricts the use and disclosure of health information except by the individual, persons granted access by the individual, or as authorized and required by the privacy rule” (p. 11, para. 2). In 2009, President Obama endorsed the American Recovery and Reinvestment Act (ARRA). The ideals of HIPAA was growing quickly, the growth was complete with the aid of the Health Information Technology for Economic and Clinical Health Act (HITECH), which is a part within the ARRA. This growth not only covered health care providers and health care organization, but also the organization’s business associates.

Everyone within an organization is responsible to protect health information, and the Office for Civil Rights (OCR) has no problem enforcing these new guidelines. Especially if there is a breach of information, and it is not reported by the organization (Boerner, 2009). Issue and impact A breach of any kind of patient information can be costly to an individual and the entire organization. A breach is a devastating issue for all parties involved, especially for the individual, whose privacy has been violated. Pertinent patient information could destroy a patient’s life that it can become deadly.

Individuals steal medical information, and use it for personal use, causing problems within the patient’s medical record. This can cause wrong diagnoses, wrong medications could be administered and could be detrimental the patient’s health. However, this issue does not only impact the patient, it impacts the organization that obviously does not have the provisions necessary to protect a patient’s information. If the organization has a breach of patient information, all parties must be notified immediately, this includes the OCR. A breach of patient information within any organization undermines its trust and reputation within the community.

In the article, written by Angela K. Dinh, “Breach Notification Rule: Where Are We? ” explains the ramifications of a breach and the damage a breach can cause. Facts The highly respected Ponemon Institute provides research data regarding patient’s privacy and data security. The institute’s latest research states that more than 69% of health care organizations do not believe that protecting patient information is not a main concern. To bring this issue into reality, the OCR reported that in November 2010, more than five million patients information were affected by a breach.

These statistics include with more than 190 registered offenses, approximately 185 were as a result of theft or loss, and unlawful entry. These figures are staggering and have a financial impact more than two million dollars for one specific organization. The Ponemon Institute estimates the financial liability for the entire population of the United States hospitals calculates to approximately $12 billion (Dinh, 2011). To comprehend is implications of the OCR’s fines for an organization; a health care organization must understand the importance of the patient’s right to protected health information and the ramifications if there is a breach.

Recently the OCR penalized two prestigious health care organizations, the first was the Massachusetts General paying a settlement of one million dollars, and Cignet Health of Maryland with fines up to $4. 3 million dollars. The financial costs do not stop for any organization that has been fined by the OCR. The organization must face the financial burden of putting in place correction actions and the loss of trust within the community is financially devastating for years to come (Means, 2011). Health care organizations must recognize the three events that can bring about an audit from the OCR.

The first any breach or a complaint of a breach. The second is a complaint of a privacy violation by an employee or a patient. The final event for an audit by the OCR is if the organization files an application for its economic stimulus payments. An organization must provide proof that it is compliant of all HIPAA regulations, and the education of staff is up-to-date of all policies and procedures. If any of these three red flags goes up the OCR will investigate and audit the organization for compliance (Posa & Terry, 2011). Ethical and legal issues

An organization plays a role in society as an honorable facility to heal, protect, and cause no harm. A breach can be extremely harmful to both the patient and the organization. Any breach of confidentiality is both an ethical, and a legal issue. The organization is trusted with a patient’s information and is to protect it. This Protected Health Information (PHI) can be released with limitations. If any agency does have a breach of any patient’s confidential information, the organization has opened the door for the OCR to come in and perform an audit.

If the organization is guilty of a breach, fines can be horrendous and financially debilitating. Managerial responsibilities Managerial responsibilities are to promote the organization’s mission. The responsibility to ensure that the training of staff members is appropriate, and he or she understands all HIPAA rules and regulations can be difficult. Provisions and guidelines are set for all staff to be educated and tested yearly regarding HIPAA guidelines. Signed documentation of all staff is necessary to ensure that each individual understands and acknowledges HIPAA regulations, and all consequences of violating these regulations.

Confidentiality is important to the integrity of the organization that managers oversee that staff follows these rules and regulations set forth by the federal government. Fines for any kind of breach are hefty and could be financially debilitating to any organization. Managers need to make sure that new employees have background checks and sign confidentiality agreements. A security plan must be in place and the monitoring of all activity should be frequent. Limited access restricts certain employees from viewing personal information not necessary for the staff to complete specific job requirements.

Managers need to require that all workstations should be secure and clean when staff is not available. A Compliance Officer should be available with a secure voice mail to allow staff to report any non-compliance issues, including a breach of security. This officer along with an ethics committee is to investigate any alleged instances thoroughly and report to all involved if a breach as occurred without delay (Posa & Terry, 2011). Another way for management to uphold guidelines and protect the organization and consumers from any breach of information is to conduct a risk analysis.

This analysis is important and can help the organization to recognize any threats, vulnerabilities, and controls to both internal and external systems. The above chart displays different examples of controls that provide protection against any external attack against an organization. Deterrent controls can minimize the opportunity of intentional attack. Preventative controls defend vulnerabilities and diminish any risk of attack. Corrective controls troubleshoot and diminish the outcome of an attack. Detective controls unearth attacks and activate both preventative and corrective controls to stop it.

Supporting the proposed solution An organization needs to understand its limitations when protecting the information of its consumers. Without this understanding and prevention it can leave the organization open to enormous fines and threaten its position within the community. Trust is important, a community must be able to trust an organization otherwise it will fail itself and the community. The OCR is looking out and is ready to investigate all alleged complaints of any breach. An organization must be ready to show that it has failsafe provisions, policies, and procedures in place that protect both itself and the consumer.

This will also protect the integrity and the financial future of the organization. Conclusion An organization must have preventive policies and procedures in place to protect itself from any kind of breach of consumer information. Managers must uphold these guidelines and enforce them to protect the honor and reliability of the organization. Staff must be honest and follow these guidelines. Reporting any unlawful or unintentional breach of privacy must be done immediately for investigation by both the compliance officer and an ethics committee.

Not reporting any suspicion of a breach of privacy no matter how small could cause an OCR audit and can be financial damaging to any organization. Illustrations Figure 1- Simple rational model, Online Image, Retrieved fromhttp://www. security-risk-analysis. com/introduction. htm References Boerner, C. M. (2009). Breach Notification, New Regulations, and HIPAA Privacy and Security. Journal of Health Care Compliance, 11(6), 25-69. Retrieved from EBSCOhost. C & A Security Risk Analysis Group. (2003). Introduction to risk analysis. Retrieved from http://www. security-risk-analysis. com/introduction. html Means, C. 2011, April 5). Five insights on what OCR privacy fines mean for providers. HITECH Watch. Retrieved from http://www. hitechwatch. com/story/five-insights-what-ocr-privacy-fines-mean-providers Dinh, A. K. (2011). Breach Notification Rule: Where Are We? Journal of Health Care Compliance, 13(2), 43-73. Retrieved from EBSCOhost. Mir, S. S. (2011). HIPAA Privacy Rule: Maintaining the Confidentiality of Medical Records, Part I. Journal of Health Care Compliance, 13(2), 5-14. Retrieved from EBSCOhost. Posa, R. , & Terry, M. (2011). What does a HIPAA audit look like? Podiatry Management, 30(2), 87-92. Retrieved from EBSCOhost.

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Social Media Marketing

FA L L 2 0 1 0 V O L . 5 2 N O. 1 Donna L. Hoffman and Marek Fodor Can You Measure the ROI of Your Social Media Marketing? REPRINT NUMBER 52105 MARKETING As social media applications like Facebook (here, cofounder Mark Zuckerberg) have changed the ways consumers interact with brands, companies have struggled to keep up. Target, Dell, Burger King and more are trying to learn what’s effective. CanYou Measure the ROI ofYour Social Media Marketing? You can. But it requires a new set of measurements that begins with tracking the customers’ investments — not yours.

BY DONNA L. HOFFMAN AND MAREK FODOR THE LEADING QUESTION How can you tell whether social media are working? FINDINGS Forget traditional ROI. Instead of calculating the return on the company’s investment, managers should assess consumer motivations to use social media and measure the social media investments customers make as they engage with the marketers’ brands. Measuring customer investments in a social media relationship reveals the likelihood of a long-term payoff, not just short-term results.

AS MANAGERS BECOME more comfortable with including blogs and social networks as part of their integrated marketing communications, they have naturally turned their attention to questions regarding the return on investment of social media. Clearly, there is no shortage of interest in the topic. A quick Google search recently for “ROI social media” returned over 2. 5 million hits, many seemingly relevant. Internet marketing and online retailing conferences now devote attention to ROI issues, and managers are asking themselves every day, “What’s the ROI of [substitute social media application here]? Blog posts, white papers and case studies prepared by social media gurus, consultants and industry analysts abound, yet the answer remains largely unsatisfying. That isn’t good, especially when the CEO and CFO are demanding evidence of potential ROI before allocating dollars to marketing efforts. 1 COURTESY OF FLICKR USER CVRCAK1, STARBUCKS, SOUTHWEST AIRLINES, TARGET, DELL, SQUARE ENIX, BURGER KING FALL 2010 MIT SLOAN MANAGEMENT REVIEW 41 MARKETING

We understand the pressures and the desire to quantify the return generated by investing in social media, but we believe most marketers are approaching the issue the wrong way. Effective social media measurement should start by turning the traditional ROI approach on its head. That is, instead of emphasizing their own marketing investments and calculating the returns in terms of customer response, managers should begin by considering consumer motivations to use social media and then measure the social media investments customers make as they engage with the marketers’ brands.

Handling the measurements this way makes much more sense. It takes into account not only short-term goals such as increasing sales in the next month via a social media marketing campaign or reducing costs next quarter due to more responsive online support forums, but also the long-term returns of significant corporate investment in social media. We will explain our reasoning in detail and suggest some guidelines for better integrating social media into your overall marketing strategy, but first a quick example of the kind of radical rethinking we believe is called for. Turning Your Thinking Upside Down

In calculating social media ROI, most marketers start by measuring the cost of launching a blog, for example, and then seek to calculate the return on sales, say, from that social media investment. But a company could also start by thinking about what marketing objectives such a blog might satisfy (e. g. , brand engagement), why its customers would visit the blog (e. g. , to learn about new products) and what behaviors they might engage in once they got there (e. g. , post a comment about a recent consumption experience) that could be linked to the company’s marketing objectives.

These behaviors then can be considered (and measured) as customer investments in the marketer’s social media efforts. This suggests that returns from social media investments will not always be measured in dollars, but also in customer behaviors (consumer investments) tied to particular social media applications. Consumer investments include obvious measures such as the number of visits and 42 MIT SLOAN MANAGEMENT REVIEW FALL 2010 time spent with the application (the blog in this case) as well as more active investments, such as the valence of blog comments and the number of Facebook updates and Twitter pages about the brand.

These investments can then be used to measure key marketing outcomes such as changes in awareness levels or word-of-mouth increases over time. Although what we are proposing might seem radical, we believe you have no choice. Traditional media measurement seems almost quaint in today’s dynamic and increasingly complex media environment. Marketers are struggling with social media measurement partly because the frameworks are still largely driven by “reach and frequency” and are ill-suited to the interactive media environment.

On one side are the managers in the trenches whose experience and gut feelings tell them that social media are important, even as they struggle with how to quantify this. On the other side is top management, who may not be 100% convinced about the value of social media or fully understand them — and even if they “get it” in principle, they still want to see the numbers. This tension explains the constant questioning about ROI in emerging advertising media like Twitter.

While managers certainly need hard numbers to know whether their investments are paying off, they represent a narrow “show me the return” focus rooted in a traditional mainstream media. This narrow focus has two problems. First, it is oriented to the short term (“show me how my company’s tweets will improve sales next quarter”). Developing meaningful relationships with customers takes time because online relationships involve interactive “conversations,”2 and some managers still do not fully appreciate that they are entering a brave new world of “relationships” with customers.

This is a world in which customers are fully in control of their online experiences and where their motivations lead them to connect online with other consumers while they create and consume online content, much of it user- rather than marketer-generated. These four key motivations — connections, creation, consumption and control — drive consumer use of social media. 3 This “4c’s” perspective is important because it leads to a consumer-oriented framework for evaluating social media. Most managers still consider SLOANREVIEW. MIT. EDU ocial media applications as “just another” traditional marketing communications vehicle. That is a mistake. The social media environment is largely consumer- — not marketer- — controlled. And marketers who don’t understand that do so at their peril. (See “The Worst That Can Happen Is Worse Than You Think. ”) Second, and more importantly, the narrow focus ignores more qualitative objectives — such as the value of a tweet about a brand — that flow from the unique capabilities of the Internet and have no obvious analogues with traditional media metrics. This is a powerful point that is often overlooked.

Both these things call for a different way of thinking about how to measure social media. Let’s talk about how you might do it. THE WORST THAT CAN HAPPEN IS WORSE THANYOU THINK Marketers often think the worst thing that can happen during a marketing campaign or support forum is no activity or response. They are wrong. The “rules of engagement” and the dynamics of interaction in the social media world are often quite different from traditional marketing. Several companies that are considered marketing experts have learned the hard way that even well-intentioned social media efforts can go embarrassingly wrong.

And while social media blunders may not necessarily negatively impact sales, managers need to be mindful as the results of social media experiments gone awry live on, just a Google search away, for years to come. Case Study: Raging Cow. In 2003, Dr. Pepper/7UP elicited consumer anger with its Raging Cow campaign. The company enlisted a group of six teenagers and 20-somethings to post favorable reviews and spread positive word of mouth about its new flavored milk drink, without disclosing that the enlisted bloggers received incentives like product samples, T-shirts and gift certificates.

On the surface, the blogs looked impartial and did not appear to be affiliated with the company or the drink, except for a few obligatory links to the Raging Cow site. But closer examination by a group of suspicious bloggers revealed that the company was behind the blogging effort. The marketing campaign was subsequently attacked in the blogosphere. Bloggers started a boycott, and the product disappeared. Case Study: Motrin. Johnson & Johnson’s Motrin brand launched a video campaign in 2008 targeted to “baby-wearing” mothers.

This was a 45-second commercial in which the voice-over of a supposed mom talked conversationally about the burdens of wearing your baby in a body sling. A number of mothers were so offended by the video, which was viewed as both condescending (“Wearing your baby seems to be in fashion” was the opening line of the spot) and exploitive in promoting Motrin as a cure for the back-breaking pain of baby wearing, that they took to Twitter and the blogosphere to criticize the brand in real time.

Riding off the momentum of enraged tweets from baby-wearing defenders, the “Motrin Moms” debacle immediately became a top trending topic on Twitter Search. But instead of quick damage control, Motrin did nothing. Only after mainstream media coverage, during which countless social media experts weighed in and branded the effort with a unanimous thumbs down, did Kathy Widmer, McNeil Consumer Healthcare’s vice president of marketing, finally offer a limp apology.

What’s particularly relevant here is that the bulk of these events unfolded over the course of 24 hours on a weekend. Social Media Objectives Drive Social Media Metrics As a first step, marketers should focus on objectives that explicitly recognize the value of operating in the social media environment. Most managers feel pressure to emphasize traditional objectives such as direct sales, direct cost reductions or increases in market share from social media.

Ultimately, of course, outcomes like these are the bottom line for any manager. And a marketer who wants to know the immediate effect on sales of a particular social media campaign can do so relatively easily by tracking the revenue generated from the dollars spent, even if tying social media actions directly to sales is difficult. It is becoming increasingly obvious that social media can lead to real cost savings, such as when customers serve as their own version of a company’s toll-free help desk through FAQs on user forums.

It is also clear that social media can improve the efficiency of market research efforts when, for example, marketers set up online prediction markets to crowdsource new ideas or mine online forums that allow customers to comment on product concepts and offer improvements for existing products. Sales, cost efficiencies, product development and market research are obvious objectives, but in our development of appropriate social media metrics we want to emphasize objectives that take advantage of the distinctive characteristics of social media.

In the social media environment, marketers SLOANREVIEW. MIT. EDU have unique opportunities to develop social media programs that tackle awareness, engagement and word-of-mouth objectives. Social media applications can fulfill any of these objectives, where the appropriate set of metrics depends on the objective. (See “Relevant Metrics for Social Media Applications Organized by Key Social Media Objectives,” p. 44. ) To get an ROI estimate, managers would link the social media metrics to an additional set of proxy benchmarks (e. . , the likelihood of future FALL 2010 MIT SLOAN MANAGEMENT REVIEW 43 MARKETING RELEVANT METRICS FOR SOCIAL MEDIA APPLICATIONS ORGANIZED BY KEY SOCIAL MEDIA OBJECTIVES This table organizes the various social metrics for social media by classifying them according to social media applications and social media performance objectives. While it is not exhaustive, it should give marketers a useful starting point for measuring the effectiveness of social media efforts because all of the metrics listed are easily measured.

SOCIAL MEDIA APPLICATION BRAND AWARENESS BRAND ENGAGEMENT WORD OF MOUTH Blogs •number of unique visits •number of return visits •number of times bookmarked •search ranking •number of members •number of RSS feed subscribers •number of comments •amount of user-generated content •average length of time on site •number of responses to polls, contests, surveys •number of followers •number of @replies •number of creation attempts •number of followers •number of relevant topics/threads •number of individual replies •number of sign-ups number of references to blog in other media (online/offline) •number of reblogs •number of times badge displayed on other sites •number of “likes” Microblogging (e. g. , Twitter) •number of tweets about the brand •valence of tweets +/? •number of followers •number of visits •number of tags •number of page views •number of visits •valence of posted content +/- •number of retweets Cocreation (e. g. , NIKEiD) Social Bookmarking (e. g. , StumbleUpon) Forums and Discussion Boards (e. g. Google Groups) •number of references to project in other media (online/offline) •number of additional taggers •incoming links •citations in other sites •tagging in social bookmarking •offline references to the forum or its members •in private communities: number of pieces of content (photos, discussions, videos); chatter pointing to the community outside of its gates •number of “likes” •number of reviews posted •valence of reviews •number and valence of other users’ responses to reviews (+/? •number of references to reviews in other sites •number of visits to review site page •number of times product included in users’ lists (i. e. , Listmania! on Amazon. com) •frequency of appearances in timeline of friends •number of posts on wall •number of reposts/shares •number of responses to friend referral invites Product Reviews (e. g. , Amazon) •number of reviews posted •valence of reviews •number and valence of other users’ responses to reviews (+/? ) •number of wish list adds •number of times product included in users’ lists (i. e. , Listmania! n Amazon. com) •length of reviews •relevance of reviews •valence of other users’ ratings of reviews (i. e. , how many found particular review helpful) •number of wish list adds •overall number of reviewer rating scores entered •average reviewer rating score •number of comments •number of active users •number of “likes” on friends’ feeds •number of user-generated items (photos, threads, replies) •usage metrics of applications/ widgets •impressions-to-interactions ratio •rate of activity (how often members personalize profiles, bios, links, etc. •number of replies •number of page views •number of comments •number of subscribers Social Networks (e. g. , Bebo, Facebook, LinkedIn) •number of members/fans •number of installs of applications •number of impressions •number of bookmarks •number of reviews/ratings and valence +/? Video and Photosharing (e. g. , Flickr, YouTube) •number of views of video/photo •valence of video/photo ratings +/? •number of embeddings •number of incoming links •number of references in mock-ups or derived work •number of times republished in other social media and offline •number of “likes” 4 MIT SLOAN MANAGEMENT REVIEW FALL 2010 SLOANREVIEW. MIT. EDU purchase by a user engaged with the company’s brand through a specific social media application, or the reach of a specific word-of-mouth element and subsequent conversion to future sales). For example, a popular personal care brand ran a largescale integrated ad campaign on MySpace in the second quarter of 2008 and used matched consumer panels to link online social media behavior to survey measures of purchase intent as well as actual in-store sales.

The results showed an ROI of 28% for the ad campaign. 4 As this example shows, companies are starting to see some success measuring the ROI of their social media experiments, including some that offer the consumer a relatively complex social media experience. For example, in 2007, Kellogg created an integrated digital media experience for the “Special K Challenge” featuring a support website that offered consumers the opportunity to customize a diet using Special K cereal, participate in online forums with pointers from experts, join a Yahoo! -mail support group and click through to Amazon. com to purchase the cereal. Kellogg, which was able to translate those website interactions and click-throughs to market response over 18 months, found that the online ROI for Special K cereal was twice as large as that from television. 5 Vocalpoint, Procter & Gamble’s social networking site, has over 350,000 members who talk about P&G products; by linking these customer investments in brand conversation to sales, the site is credited with market response increases of up to 30%. To be sure, there is some complexity involved in calculating the ROI of a sophisticated social media campaign, not necessarily limited to determining the size of the test and control samples and the ability to match online customer profiles with offline purchases. However, even small-scale social media efforts can benefit from plugging in segment-level estimates and proxy measures to quantify how the customer investments from brand awareness, brand engagement and word of mouth affect the purchase decision funnel and, ultimately, the bottom line.

We expect that over time the number and quality of the necessary inputs will increase, but marketers can find even rough proxy estimates useful in the meantime to generate the calculations necessary to link marketing investments to cusSLOANREVIEW. MIT. EDU tomer investments and market response. Below we discuss three social media objectives and provide several examples of each. Brand Awareness Traditionally, brand awareness is measured through tracking studies and surveys. Online, however, marketers have a number of ways to track brand awareness.

In the social media environment, every time a person uses an application designed by or about the company, the company gains increased exposure to its brand, often in highly relevant contexts. For example, several days before Election Day 2008, Starbucks ran a spot on the “Saturday Night Live” show as well as on YouTube, promoting a free coffee giveaway. Twitter mentions of Starbucks skyrocketed, averaging a mention every eight seconds, which translated into a sizeable increase in brand exposure. 7 Such usages enhance and strengthen associations of the brand in customers’ minds through increased exposures.

Thus, brand awareness is a key social media objective. Another example is Naked Pizza, a New Orleans, Louisiana-based business catering to health-conscious pizza lovers, which tweeted about its pizzas in 2009 and successfully drew around 4,000 followers in just a few months. The company also kept track of sales that were spurred by a billboard outside its shop encouraging customers to follow it on Twitter. The microblogging campaign’s success culminated in the company breaking its one-day sales record, with more than 68% of its sales coming from customers who were Twitter followers.

Also on that day, 85% of the company’s new customers claimed they had been motivated to buy from Naked Pizza because of Twitter. 8 Finally, in what have rapidly become classics in the social media sphere, K-Tec’s blender brand Blendtec posted a series of humorous demonstration videos in which the company’s founder, Tom Dickson, posed the question “Will it Blend? ” and then proceeded to blend iPhones, glow sticks, golf balls and many other products previously thought unblendable using his line of hardy blenders. The “Will It Blend? campaign quickly went viral and as a result saw its sales grow fivefold. The BlendTec videos have now been viewed more than 100 million times on YouTube. FALL 2010 MIT SLOAN MANAGEMENT REVIEW 45 MARKETING Brand Engagement Brand engagement can be en- Target leveraged Facebook by creating an online environment devoid of any apparent self-serving sales pitches. hanced through social media in various ways, and the results can be strikingly positive. In an effort to engage its customers, Southwest Airlines revamped its “Nuts About Southwest” blog with podcasts, videos and other social media tools.

Visits to the new and improved blog rose by 25%, page views increased 40% and visitors stayed 26% longer on the company’s website. The blog engaged customers on touchy subjects like assigned seating and used the results from 700 posts as a virtual focus group. 9 Target leveraged the social networking aspect of Facebook by encouraging its customers to join and participate in an online environment devoid of any apparent self-serving sales pitches. Target tracked the success of its social media campaign by monitoring membership sign-ups.

On their own, thousands of members generated significant buzz with regular posts, which in turn motivated numerous others to join and participate on the networking site. A Facebook application called “Circle of Moms” — which let mothers post messages, arrange carpools, set up back-to-school checklists and click through to promotions on the Target site — generated more than 20,000 visitors in six weeks. For its 125th anniversary, Gretsch Guitars held a contest on its MySpace page to find the next best unsigned independent band. Nearly 900 bands en- tered the contest, and over 55,000 site visitors voted for their favorite bands.

By soliciting participation from both musicians and their fans, Gretsch engaged its target customer and raised awareness of the brand more broadly. These highly engaging social media campaigns involving user-generated content likely generate commitment on the part of the consumer, reinforcing loyalty to the brand and making the customer more likely to commit additional effort to support the brand in the future. The bottom-line rewards for this kind of engagement may be observed through delayed sales. Traditionally, marketers measure engagement through customer surveys.

Online, marketers can use one-time versus repeated interactions or active participation compared to passive consumption of social media as proxy measures. Word of Mouth Once consumers are aware and engaged, they are in a position to communicate their opinions to other consumers. Satisfied and loyal consumers communicate their positive attitudes toward the brand itself or toward the social application created by the company (be it a Facebook application or group, a Twitter presence, a blog or a YouTube video) to new, prospective customers both online and offline.

Dissatisfied and disgruntled customers may also share their negative attitudes toward the brand or poor social applications, as when technology journalist Jeff Jarvis blogged in 2005 about the shoddy customer service he received from Dell — his own “Dell Hell” that spread like wildfire on the Internet and mainstream media — and Dell saw its customer satisfaction score drop five points in one year. 10 On the positive side, Japanese gaming company Square Enix started an online community to stir up interest in its North American release of Sony’s Playstation 2 video game “Dragon Quest VIII: Journey of the Cursed King. The North American online community was a success, drawing more than 14,000 members to join its forum, with 30% recruited via word of mouth from existing members; 40% of the online community pre-ordered the game. By the end of 2009, the video game had sold 510,000 units in North America. In 2009, Burger King asked members of its “Whopper Sacrifice” Facebook application to unCOURTESY OF TARGET 46 MIT SLOAN MANAGEMENT REVIEW FALL 2010 friend 10 of their Facebook friends in exchange for a free sandwich.

Though later pulled, the reverse wordof-mouth campaign resulted in members unfriending a total of 234,000 Facebook friends. These abandoned friends monitored by the application received alerts informing them that they had been sacrificed for a Whopper. The offbeat campaign resulted in significant word of mouth for Burger King. Traditionally, companies can estimate word of mouth through surveys that measure the likelihood of recommendation or can use customer satisfaction, loyalty and purchase likelihood as proxies for word of mouth, but online, word of mouth can be measured directly.

More sophisticated methodologies are often required to measure word of mouth because a significant amount can occur either offline or online via private communication, where direct measurement is impossible. User-generated content can also embed consumers’ favorite brands (such as in a video on YouTube or a photo posted on Flickr) and contribute to word of mouth — and companies can organize such experiences on behalf of their consumers. For example, Atrapalo. com, one of Spain’s leading online travel agencies, included on its site a way for consumers to share travel videos and customer photos.

STRATEGIC OPTIONS FOR SOCIAL MEDIA MEASUREMENT Every manager’s goal should be to move away from fuzzy measurement and toward quantifiable metrics. That way, a manager can understand what’s working and what’s not — and revise the approach accordingly. Quantifiable Measure and Adjust Iterate for Success Manager’s Ability to Measure Effectiveness Fuzzy Dead End Naive Optimist Failing Manager’s Subjective Valuation of Effectiveness Succeeding Why You Want to Do It This Way

The advantage of starting with consumer motivations, as opposed to trying to figure out what social media application to use, is that it makes clear how seemingly disparate applications are actually quite similar if they share the same underlying motivations for use. This makes the job of creating integrated marketing campaigns not only less overwhelming for the manager but also much more closely tied to online consumer behavior. In other words, the question is not whether to blog or tweet, but what objectives need to be achieved and which set of tools with their corresponding metrics can best achieve them.

Paths to Effective Social Media Strategy Once managers have a set of objectives in place for their social media efforts and understand that consumers are motivated to make investments in companies’ social media efforts through their interactions with the brand, the next step is to consider SLOANREVIEW. MIT. EDU the strategic options for social media measurement. Our simple 2 ? 2 framework, which assumes the manager has a social media effort ongoing, neatly summarizes the choices managers face as they strive to develop social media strategy and suggests better (and worse) paths toward social media success. See “Strategic Options for Social Media Measurement. ”) Let’s start with the “dead end. ” In this scenario, the marketer has only a limited ability to measure his social media efforts (fuzzy) and believes that his efforts are not working (failing). Managers find themselves in this quadrant as a result of the “throw it on the wall and see what sticks” strategy and perform arbitrary changes with no way to measure their impact. Because measurement is fuzzy and the effort’s effectiveness appears to be failing, the manager has little insight or idea on what to do.

The outcome is fairly predictable: The manager will give up on social media efforts or continue efforts that involve random adjustments without data support. This quadrant is a dead end. You don’t want to get stuck here! Next is “measure and adjust. ” In this scenario, the marketer has a reasonable ability to quantify his social media efforts, and these measurements lead him to believe that his efforts are not working (failing). This is distinctly different than the “dead end” scenario, because even though the manager does not believe he is succeeding, at least he is making some attempt to measure social media effectiveness.

Since the components are being measured, there are probably some good FALL 2010 MIT SLOAN MANAGEMENT REVIEW 47 MARKETING Bill Gates, Bono and Dell chairman Michael Dell together at the World Economic Forum attempting to prompt good word of mouth for collaborating on (RED) to fight AIDS in Africa. In 2005 Dell suffered a word-of-mouth hit when blogger Jeff Jarvis described receiving bad customer service — and Dell saw its customer satisfaction score drop five points in one year. clues about what is going wrong.

This means the manager can evaluate and adjust the social media strategy accordingly. If the manager can do this well, he can move toward the “iterate for success” quadrant. In that space, the marketer has both a reasonable ability to measure his social media efforts (quantifiable) and the belief that his efforts are working (succeeding). Since the components are being measured, the manager can purposefully iterate to improve even more. This is hard to do but obviously worth the effort. The other path is “naive optimist. Here, the marketer has only a limited ability to measure his social media efforts (fuzzy), yet believes that his efforts are working (succeeding). We believe most marketers actually start here. They believe social media are worth the effort, but are not quite sure how best to measure their efforts. This quadrant is tricky because although it is a reasonable place to start, you want to move out of it as fast as possible so you don’t get stuck here. Managers have two good options for moving from “naive optimism” to “iterate for success” and one poor choice.

Let us examine the poor choice first. If the manager does not change anything, he will likely migrate to the “dead end. ” This is because the lack of measurement will eventually lead to deterioration in the effort’s effectiveness over time, particularly as competitors are able to do it better. There are two better options. First, the manager simply starts to measure social media efforts, discovers things are not working as well as they could be (“measure and adjust”) and then directs his efforts toward “iterate for success. In the shorter path, the manager starts measuring and discovers the efforts are succeeding, moving directly to “iterate for success” from “naive optimism. ” In either case, the goal is to move away from fuzzy measurement and toward quantifiable metrics where the manager can get a real handle on what is working and what is not and then follow the best path that will get him where he needs to go. Done Right, Social Media Strategies Put the Brand to Work for Customers Reducing social media strategy to a mere measurement problem would be a mistake. Although 48 MIT SLOAN MANAGEMENT REVIEW FALL 2010 easuring the ROI of social media efforts is important and necessary, it is far more important that managers make sure their social media efforts are effective, even if the state of ROI measurement may be less than satisfactory. In order to maximize the effectiveness of their social media efforts, managers must recognize two important facts of social media life when implementing social media campaigns. First, while it is certainly true that consumers have much greater control over their online experiences, managers also have — and must exercise — a fair amount of control over the rules and framework for brand participation in social media.

For example, a manager can control who posts to a blog devoted to the company’s brand. More generally, managers certainly have at least some control over the rules and the participatory framework of how consumers will engage with their brands in the social media space. Second, managers must appreciate that the social media environment is highly dynamic and rapidly evolving. While this may seem obvious, it is mostly overlooked when campaigns are conceived and launched. Many managers still approach social media as if the practices — and consumer behaviors — are largely fixed.

Social media-savvy managers know this is not the case, but traditional beliefs about how to reach consumers and potential consumers die hard. Our premise is that social media efforts that are developed in the context of the 4c’s — connections, creation, consumption and control — that underlie consumer motivations to participate will lead to higher ROI because the company’s marketing investments can better leverage the active “investments” its customers will make as they engage with the company’s brands.

These investments can take the form of blog comments, registration and active participation to become a part of a brand-related community, private endorsements of a brand or product (a tweet or retweet, Facebook comment, review, blog post or offline recommendations to friends) and the like. While the content of consumers’ interactions is largely out of managers’ control, setting up the framework to facilitate that interaction is squarely in their control. How managers design, launch and actively manage their social media campaigns plays a large COURTESY OF MICROSOFT art in determining whether and how consumers will participate and interact. Savvy managers understand that there is a feedback loop. They don’t sit back once the social media campaign begins. Instead, they listen carefully because they know that consumers not only “consume” the campaign, but can comment on it (“create”), share it with their friends and anyone else (“connect”) and provide their uncensored thoughts about it (“control”) for any and all to view. And this listening must then lead to action. For example, if a consumer posts a question to the manager’s blog, someone with a face in the company must reply.

If a video is uploaded, someone must monitor the Twitter stream for comments and be prepared to react if problems appear. Traditional marketing metrics with narrowly defined ROI tend to lead to social media campaigns that maximize short-term benefits for the brand (or the manager! ), without worrying too much about customer motivations and the long term. The result tends to be campaigns that expect the customer to work for the brand. In contrast, effective social media strategies put the brand to work for the customers by satisfying their needs to create, consume, connect and control in the social Web.

In a well-designed social media campaign, consumers are likely to spread viral videos, create additional brand-related content, tweet about the brand and post about their experiences on Facebook. The social metrics that reflect these kinds of social media behaviors are important not only because they let marketers measure the bottomline impact of their social media efforts, but also because they focus marketers’ attention on social media strategies that take into account the objectives of both the brand and the online customer. There is reason to be highly optimistic about improving the effectiveness of social media.

The social Web is a highly measurable environment, and it is a relatively simple matter for a manager to measure the number of product reviews, blog posts and comments, retweets and appearances in the social network timelines of the company’s brands. At the same time, managers are often able to measure clickthroughs to transactional websites, as well as capture the number of leads generated or conversion rates for online sales. While there will still be those situaSLOANREVIEW. MIT. EDU tions in which behavior cannot be completely and accurately traced (e. g. offline purchases or offline word of mouth), we think that carefully planned social media campaigns afford phenomenal opportunities for relatively easy and cost-efficient measurement of customers’ online investments in a company’s brands. Donna L. Hoffman is the Chancellor’s Chair and Professor of Marketing at the A. Gary Anderson Graduate School of Management, University of California, Riverside. Marek Fodor is the cofounder of Atrapalo, one of Spain’s leading travel agencies, and was formerly its chief technology officer. Comment on this article at http://sloanreview. mit. du/x/52105, or contact the authors at [email protected] edu. ACKNOWLEDGMENTS This research was supported by a grant from the UCR Sloan Center for Internet Retailing. The authors thank Mark Manalang for his research assistance. REFERENCES 1. Lenskold Group, “2009 Lenskold Group/MarketSphere Marketing ROI and Measurements Study” (Manasquan, New Jersey: Lenskold Group, 2009). 2. D. L. Hoffman and T. P Novak, “Social Media Strategy, . ” in “Handbook on Marketing Strategy, ed. V. Shankar and ” G. S. Carpenter (Northampton, Massachusetts: Edward Elgar Publishing, in press). 3. T. P Novak and D. L. Hoffman, “Roles and Goals: .

Consumer Motivations to Use the Social Web” (paper presented at the INFORMS Marketing Science Conference, Cologne, Germany, June 19, 2010). 4. L. Littman, J. Nagy and N. Wortman, “ Advertising on Social Networks Drives In-Store Sales, 2008, www. ” thearf. org. 5. E. B. York, “Kellogg Says ROI on Digital Trounces TV by ‘Factor of 2’, Advertising Age, Sept. 6, 2008. ” 6. B. Cummings, “J&J Takes Baby Steps Toward Social Media, Brandweek, Apr. 13, 2008. ” 7. C. C. Miller, “New Starbucks Ads Seek to Recruit Online Fans, New York Times, May 18, 2009. ” 8. C. Baldwin, “Twitter Helps Dell Rake in Sales, June ” 12, 2009, www. euters. com. 9. P Berg, “Southwest Airlines: Nuts About Online Com. munication” (presentation at the Inbound Marketing Summit, Boston, May 27-28, 2009). 10. K. T. Williams, “Case Study: Dell Hell, Feb. 7 2009, ” , www. docstoc. com. Reprint 52105. Copyright © Massachusetts Institute of Technology, 2010. All rights reserved. FALL 2010 MIT SLOAN MANAGEMENT REVIEW 49 PDFs ¦ Permission to Copy ¦ Back Issues ¦ Reprints Articles published in MIT Sloan Management Review are copyrighted by the Massachusetts Institute of Technology unless otherwise specified at the end of an article.

MIT Sloan Management Review articles, permissions, and back issues can be purchased on our Web site: www. pubservice. com/msstore or you may order through our Business Service Center (9 a. m. -7 p. m. ET) at the phone numbers listed below. Paper reprints are available in quantities of 250 or more. To reproduce or transmit one or more MIT Sloan Management Review articles by electronic or mechanical means (including photocopying or archiving in any information storage or retrieval system) requires written permission. To request permission, use our Web site (www. ubservice. com/msstore), call or e-mail: Toll-free: 800-876-5764 (US and Canada) International: 818-487-2064 Fax: 818-487-4550 E-mail: [email protected] com Posting of full-text SMR articles on publicly accessible Internet sites is prohibited. To obtain permission to post articles on secure and/or password-protected intranet sites, e-mail your request to [email protected] com Customer Service MIT Sloan Management Review PO Box 15955 North Hollywood, CA 91615 Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

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Journal on Speaking and Listening

IT’S NOT JUST BY THE EARS! January 24, 2011 Though I have previous knowledge about listening, but I still find our discussion much different from the latter, it’s a lot more fun with lesser pressure. Listening is the most important part of the communication process. However, listening skills do not come naturally to most people; they require willingness, practice, and patience to develop. Effective listening is every bit as important as effective speaking, and generally much more difficult.

Although numerous barriers to effective listening can make the practice difficult, there are several habits one can adopt that will lead to a higher level of listening proficiency. There are many reasons individuals fail to listen successfully. These include (summarized version): interrupting, judging, faking attention, becoming emotional, tuning out, jumping to conclusions, becoming distracted. Interrupting is a problem for many reasons. First, it is aggressive behavior and will most likely bring a negative response from the speaker being interrupted. Second, it is difficult to listen and speak at the same time.

When the listener is interrupting, he or she is certainly not listening fully. Becoming emotional can hinder one’s ability to listen. It is important that the receiver be aware of his or her emotions. If the sender is sending a message that is offensive, it is important to acknowledge that fact and be aware of the fact that something is threatening a breakdown in the process. When a receiver is angered, it is easy for him or her to miss the most important part of the sender’s message. Although the reasons for listening breakdowns are numerous, there are many ways to improve listening skills.

These are: provide clues that you are actively involved, concentrator, refrain from formulating an immediate response, try to prepare beforehand, and be prepared to accept revisions. Be sure the environment is conducive to listening. A willingness to accept revisions will keep the communication process running smoothly. Often people are so busy trying to defend their positions that they fail to really stop and think whether they could be improved upon or viewed in a different way. This is what is often referred to as “spending 90 seconds expressing an opinion and 900 seconds blindly defending it. Choosing the right environment is also important because it will help the listener focus and avoid distractions. Although there is no set environment which is best for all communication, in general it is best to avoid areas where there are high levels of activity, loud noises, an uncomfortable temperature, poor air flow. A TV SHOW HOST-ESQUE January 31, 2011 Television show hosts come in many forms, but currently, the most popular form of television show host is based on reality TV. Game shows are another popular medium for television show hosts.

Many of the major networks (ABC, CBS, FOX and NBC) provide game show forums for hosts that range from quiz shows to shock game shows. However, take a look at these five necessary steps to becoming a television show host before you decide to take the plunge. Search for local hosting opportunities in your area. Not only will hosting a program and any events help you to gain notoriety, but hosting such events will also help you to develop a sense of crowd control and stage presence. Both of which are essential attributes that major networks look for in a television show host.

Search for a hosting position on your local public access/news networks and radio stations. Both provide experience in filmed and/or taped media and will afford you clips to add to your resume. Most, if not all, major networks need to assess your on-air presence before they hire you to host their television show. Market yourself toward the genre of television hosting that you wish to pursue. Maybe you are edgy enough to host a major network’s shock television game show. Assess your personal attributes and decide whether you are skilled in handling tense situations.

If not, maybe your personality suits a major network’s quiz television show. In either case, you will need to have a good sense of time management and an ability to comfort contestants through difficult situations like what Vhong and Anne do in Showtime, it is really an inspiration for budding hosts. NO SPIN, NO BIAS, JUST NEWS –DAY-OLD REPORTER February 7, 2011 Being a TV reporter/anchor takes sacrifice. On the surface it seems like a glamorous job but those of us ( including me) who have worked in the industry know it is just the opposite. There is, however, no other job like it in the world.

Want to be a news caster? Here’s how: Go to school to become a professional newscaster. Most stations hire individuals with not only practical experience, but want you to have an education. College is the place to get the foundation you need and where most news people get their first taste of hands-on experience. Pick a school with a good communications program. Majors to consider include Journalism, Broadcasting, Radio-Television and Communications. Research schools to determine their strengths and reputations. Watch local, network and cable news shows. Observe and practice the techniques of the newscasters you see.

Realize that you will be judged on your appearance and mannerisms. You must be well-groomed, dress fashionably, but not too trendy. Look and act like someone that people can trust and knows what they’re doing. Work on developing a “neutral” voice, free from any accent. Prepare for the environment and the life of a professional newscaster. The news business is 24 hours a day and you’ll work long and irregular hours, including nights and weekends. Plus, you’ll be under a deadline. Stay up on current events. Read the Washington Post, The New York Times and even the Wall Street Journal.

Newscasters mainly read from a teleprompter. You need to train your eyes to follow words. Have ideas for stories. Understand that you won’t be on the air immediately. You’ll probably start in research and use that to prove yourself to be a reporter, and then one day, if you’re lucky, you’ll be a newscaster. Search for entry-level positions at small stations. Most of the positions in TV broadcast news come from turn-over. If you prefer the network, the same advice applies. Remember that with network jobs, even entry-level positions are hard to come by.

One estimate is that for every position open, they have at least 60 to 100 resumes. After that activity I realized that news casting is no joke, it will take a lot of effort to practice this craft, so for those who are dreaming to be a one, well. . . think again. DEBATE AT DEBATE February 14, 2011 Well supposedly, I will write this article after it will happen but since I’m a little bit advanced, so I prefer to make it beforehand. A debate is a contest, or, perhaps, like a game, where two or more speakers present their arguments intent on persuading one another.

Men have been debating ( based on the internet) with one another since the beginning of time when the serpent first debated with Eve the benefits of eating certain fruits in the Garden. We shall limit ourselves here with discussing formal contest debating between educational institutions, or, in the world of home schooling, between families that choose to bypass educational institutions and educate their children at home. The first round of the debate will take place next week, and I am part of a team (I hope to win) which is pro-reproductive Health Bill.

Seeing that this is a world wide activity I felt that I should write some basic tips for debating, as I realize how hard it is when I first started. I have been debating for 5 years and hopefully I can pas my experience on to others. I’m not sure if different countries have different types of debating, but Australia has a system where there are 3 people on each side who take it in turns to argue a point. You are always right – no matter what you really believe, if you want to win then you have to know that what ever you say is correct and your opposition is always wrong.

Strong central argument, after you make each point link it back to your team’s case. This makes the whole team look more prepared and gets big marks. Rebut, if they have an incorrect fact, rebut it. If they do not link back to their team’s case, rebut it. If they give an example that has no relevance, rebut it. Remember, the opposition is always wrong. If you need more time, summarize – a good summery not only gets good points, it also increases your time. If you go under time you lost points and the same occurs if you go over. Try to find a balance. Never insult the opposition – no matter how much you want to, don’t!

If you want to insult something, do it to their argument. Don’t use personal attacks if you want to win. Have passion – believe in what you are saying and you probably will win. Speak from the heart, but also use logic and academic research. This is not so much a guide but just some helpful tips, so that you can earn maximum points. If you still have some queries, then post a comment below. WRITING IS NO JOKE February 21, 2011 I really don’t know why we keep on writing some sort of journals, reflections and learning logs, actually I’m against it but I have no other choice ( and that is what I’m exactly doing).

Sometimes, I see the point, but it’s not that concrete, besides there is no reason to put the burden to the students by giving them enormous activities. There was then a certain point in time that I just assumed that maybe we are doing this because this is what we need to be a better teacher. By the way, I will just tell you something about being a good writer, they say writers are born not made so it is really an inherent traits to be harnessed and not to waste. If you think you have it . . . flaunt it.

To be a good writer, you should be constant on your ideas and thought, but before the ideas you should think the topic you want to discuss beforehand. It is really the choice of topics that drives your thought in their proper places. Make sure also that you’re in the mood to write because if you’re not, you will be planked and you will not be able to make an article with unity, coherence and emphasis which are the basic elements of a written piece. Actually, I’m just pretending that I have a lot to say about writing but if you will scan my works today, you will realize the naked truth. GENERATION C

March 5, 2011 In today’s society technology effects many different people. The largest group effected by technology is college students. There are many good things about technology in this period of time. One of the main things that really have a good effect on college students is a computer. There are many things that college students use computers for. One of the real reasons that almost every college student has a computer in their dorm or in their house is to type up all of those papers that are assigned to them by their professors. Another one of the biggest things in technology is the Internet.

You would swear that now someone would die if they didn’t have the Internet. Researching on the Internet is a very famous thing too. College students can use this to look up information on a topic that they have to write a paper on or just look up anything in general. AOL instant messenger is a very big thing with teens and college students. College students use this to talk to friends they know. Most college students use it to keep in touch with friends they went to school with so they can see how things are going in each other’s life and to see how college is going for everyone.

Another type of computer is also good for college students. The laptop is a very famous computer with everyone now. It is a smaller version of a computer and it just closes up and you can take it with you anywhere you want to go. So college students can use these in class to take notes instead of writing their notes down on paper and they will be much neater too. Computers are one of the biggest things in technology today. Almost every family owns one now and most are connected to the Internet too. I wish that all of this are really what is happening.

Technology, especially the computers, is making our college life much exiting, interesting and innovative PLANNING LESON PLAN March 12, 2011 Teaching is the noblest of all professions and doing lesson plan is one of the hardest thing to do as teacher. So how do you go about planning for a class? Begin by deciding what content you want to cover and what your objectives are for the lesson – this will depend a lot on your class’s level and it might depend on an textbook that the school has provided for you or that you have brought yourself.

Ideally, these objectives will include both new vocabulary and new grammatical forms. Then think about what activities you want to use to accomplish these goals. These may include a short introduction to the class, a warm-up activity to get everyone involved, group work on dialogues, presentation of skits or survey results in front of the class, and a short conclusion reviewing what was learned and pointing out common mistakes.

Finally, you should always have a “contingency plan” to fill up any space that might exist at the end of the class. These plans may consist of an additional game/activity, or of an exercise that will help students to build bridges in their minds between structures and vocabulary learned in different lessons and that learned that day. Lesson plans help us a lot ( hopefully ), it’s really hard but if I stop now on learning how to make it, will I be equipped on my journey towards teacher hood.

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Pricing Strategies Formula 1

Based on these 6 factors in setting a price: selecting the pricing objective, determining demand, estimating costs, analyzing competitors costs, prices and offers, selecting a pricing method and selecting the final price, Singapore GP Pte Ltd employed 2 different pricing strategies. They are 1. Price discounts and allowances 2. Differentiated Pricing

Promotional pricing was not used in the sale of the FORMULA 1™ SingTel Singapore Grand Prix tickets as none of the techniques: lost-leader pricing, special-event pricing, cash rebates, low-interest financing, longer payment terms, warranties and service contracts and psychological discounting were used to stimulate early purchases were used. This is probably because the annual international event is highly exclusive and a world’s first and therefore consumers would most likely be rushing to buy the tickets, thus not needing any promotional pricing to encourage early sales.

Price Discounts and Allowances Price discount is the act of giving discounts for early payment, volume purchases and off-season buying. For the FORMULA 1™ SingTel Singapore Grand Prix, a quantity discount was given to buyers who purchased a 3 day walkabout pass instead of a daily pass. The savings of about $36 was given to encourage attendance for all three days of the match. A 10% discount was also given to youths aged 7-15 and seniors above the age of 60. This was done to target a wider range of audience.

Promotional allowance is shown when SingTel subscribers are offered the option to purchase single-day walkabout tickets before the tickets were released to the public. This is the reward for consumers who are SingtTel subscribers who choose to participate in this advertising program. Differentiated Pricing Differentiated pricing occurs to accommodate the variance of consumers, products, locations etc. In differentiated pricing, there is price discrimination as a product or service is sold at 2 or more prices that do not reflect a proportional difference in cost (textbook pg 85).

There are 3 degrees in price discrimination. In the first-degree, the seller charges a different price to each customer based on the intensity of his demand. In the second degree, the seller charges a lower price to buyers who buy a larger volume. In the third degree, the seller charges different prices to different classes of buyers. It is clearly shown in the FORMULA 1™ SingTel Singapore Grand Prix that this pricing strategy was used to sell the tickets. Firstly, Singapore GP Pte Ltd charges a lower price to customers who buy a three day walkabout ticket instead of a one day ticket.

This is the second degree in price discrimination. The third degree of discrimination is evident in pricing of the FORMULA 1™ SingTel Singapore Grand Prix tickets. Third degree price discrimination methods include customer-segment pricing, product-form pricing, image pricing, channel pricing, location pricing and time pricing. Singapore GP Pte Ltd has priced their tickets according to customer-segment pricing, product-form pricing, image pricing and location pricing. Customer-segment pricing Customer-segment pricing is the charging of different prices for the same product or service to different customer groups.

Singapore GP Pte Ltd gave a 10% discount to youths aged 7-15 and seniors above the age of 60 exhibiting this type of pricing. Product-form pricing and location pricing Product-form pricing is the pricing of different versions of the product but not proportionately to their respective costs. Location pricing is the difference in pricing based on the difference in locations even though the cost of each location is the same. Product-form and location pricing is evident given the variety of grandstand seats tickets offered to the consumers. The ticket price ranging from $248 to $1,388 is for the different locations and level of services.

The cost of offering the tickets at different grandstand locations is the same but are priced differently according to consumer location preferences. In this case, the location of the finishing line on the race track would be very popular and therefore the ticket prices are higher. The range of service also warrants a higher price of the race tickets. In this case, the Esplanade Steps Premier Grandstand Seats were priced at $2,588 as it offered a bevy of services ranging from exclusive gifts to premium meal services and a complimentary open bar.

Although there is extra cost for providing these services, the ticket price reflected is not proportionate to these costs. As such product-form pricing is clearly highlighted. Image Pricing Image pricing is the pricing of the same product at 2 different levels based on the image differences. Singapore GP Pte Ltd sold suite tickets which are relatively more expensive as there is an air of prestige surrounding suite tickets when compared to the other tickets.

Consumers must pay the $6,955 price tag in order to be holders of suite class tickets. Even though it might seem cheaper that the Esplanade Steps Premier Grandstand Seat tickets because it is a three day pass, consumers have no option in getting a one day pass and therefore is actually forced to pay more. The services provided for suite ticket holders are even lesser than the Esplanade Steps Premier Grandstand Seat ticket holders lacking the complimentary open bar and exclusive gift.

However, suites are considered the “best seats” in almost all sporting events not because of its location but because of its price tag and reputation. Therefore using this reputation, Singapore GP Pte Ltd sold the suite tickets for a higher price, engaging in image pricing. In conclusion, based on the above explanations, it is clear that the pricing strategies used in selling of the FORMULA 1™ SingTel Singapore Grand Prix included price discounts and allowances and differentiated pricing.

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Tanishq A Case Study Group-III Section C Happy Saini 0137/48 Uday Mehta 4035/18 Ganesa Kumar KV 0128/48 Harshit Krishna 0143/48 Vinay Kumar Juluri 4040/18 Himanshu Kumar 0147/48 Rohan Gala 0127/48 Introduction: ‘Tanishq’ meaning love for the body, was a brand introduced by Titan, a TATA company, to capture the gold jewellery market of India. The basic idea behind the concept was to redefine the gold jewellery market. India is the biggest market for gold jewellery estimated at INR 60,000 crores annually but there was no branded player in the market.

Tanishq launched studded 18 karat gold jewellery collection which was largely rejected by the Indian customers. The reasons can be summarised as: 1. The gold used in studded jewellery was 18 Karat. Indian customers were not willing to accept anything below 22 Karat which was too soft to hold gems and diamonds. 2. Tanishq showrooms were too modern and too different from the conventional jewellers which led to a ‘nice but not for me’ syndrome in the customers. 3. The designs were quite western and considered unsuitable for Indian weddings which constituted more than 50% of this market. . The traditional customers were not able to connect themselves with the brand name ‘Tanishq’ and other names like Zoya, Aria, Diva etc. 5. People used to buy gold jewellery not only as ornaments but also as investments. Hence, paying a premium for Tanishq’s studded designer jewellery did not seem profitable to the masses. 6. Tanishq costs were higher than the conventional jewellers because of purity, while customers thought that Tanishq was overcharging them. But the reality was that local jewellers were providing under karatage ewellery. Tanishq’s response 1. Tanishq started a Karat meter campaign to prove its purity and justification of higher costs. 2. Tanishq tried to reposition its product in the market to attract both high end and low end customers. To do this Tanishq brought 22 Karat gold jewellery in the market to attract traditional customers. With this Tanishq wanted to increase footfalls in their showrooms. Tanishq tried to shift customers from low profit traditional products to high profit studded jewellery. 3.

Tanishq started a advertising campaign customized to target regional & traditional customers which constitutes 85% of the market. Entry of GoldPlus into the market: 1. Set up in 2004 to go after the segment Tanishq could not penetrate fully. 2. Set up in two locations initially- Ratlam and Erode. 3. Mode of operation similar to traditional jewellery shops, while using the Tata name for promotions and communications SWOT analysis for Tanishq Strength| Weakness| * Differentiated products * Purity * Economical Supply Chain | * “Not for me” perception * Higher prices| Opportunity| Threat| High-disposable income families * No branded competitor * Higher relocation of younger generation | * High loyalty to local competitors * Lower prices of local competitors * Perception of gold as commodity, not ornament * Possibility of union by local jewellers | SWOT analysis for GoldPlus Strengths| Weaknesses| * Resemblance to local competitors. * Brand name * Tata brand name to invoke sense of trust. * Competitive pricing * Purity| * Ability to replicate efforts and results on a large scale? No personalized relation with the local people. | Opportunities| Threats| * Bigger market share than high end market. * Mostly unorganized market. | * Taxes on expansion. * Local jeweler conglomerates. * Liberalized markets have reduced gold investments. | Market segmentation: Different versions or different models of a product are launched by companies to satisfy diverse wants of customers. Hence the market is broadly divided into various segments. A market segment is a group of customers who has similar needs and expectations.

Similarly, on the basis of age, life style, gender, income, generation, social class, values, psychological factors and other factors Tanishq segmented gold jewellery market into following major segments: A pie chart showing market segmentation of gold jewellery market in India 1) Confident Matriarch * Age group: 30-40 yrs. * Typically in a nuclear family and quite influential. * Confident to adapt to change and experiment. * Considerable experience in buying jewellery. * Represented 37% of the market. This can be a big segment for Tanishq to target.

This market segment has poor loyalty to local jewellers. They are ready to experiment. This segment can spread good word of mouth and can bring those customers into Tanishq stores who have a ‘not for me’ stigma in their minds. 2) Sanction Seeker * Age group: All ages * Majority live in small towns * Not confident, derives satisfaction from others’ appreciation. * Gives opinion on designs but finally it’s the decision of elders. * Represent 30% of the market- * 10% approval driven * 20% investment driven sanction seeker This segment is quite fragmented.

They are traditional buyers who buy jewellery for weddings and other functions. The user and buyer are not the same person. This segment can be a good market for GoldPlus. 3) Balancer- Marriage * Young women * Unmarried probably working * Distancing herself from traditional values but still sensitive to tradition * When comes to marriage will buy traditional jewellery. May prefer modern styles for other purposes. * Brand sensitive but also want good value. * Represent 20% of the market This segment can be a good market for GoldPlus when it comes to weddings but otherwise it’s a potential market for Tanishq.

This is the segment which Tanishq can try to capture completely. 4) Display driven * Fairly young, Upper class, working women, living in cities * Liberal parents, independent, modern * Want trendy and modern jewellery. Do not want to accumulate wealth in the name of jewellery. * Highly brand conscious * Represent 5% of the market. This is a sure market for Tanishq. This segment will buy high end products both for weddings and daily wears. Tanishq must focus on these customers from going away to other competitors. Perception improvement for Tanishq :

Price :Tanishq has considerably bettered its image in pricing between 2001 and 2004. Ratings for charging and pricing of gold have increased by over 33% and overall ratings for pricing have increased by around 30%. However the overall ratings relative to competitors have still been negative. Design :Overall ratings have increased by nearly 30% with innovation being the biggest gainer. However they are still behind competitors and considerable work needs to be done in this area irrespective of the segment they are planning to operate in.

Image : Tanishq has considerably moved towards young, rich and Ultra Modern customer base. They have come off as a fashionable, individualistic, lavish and sophisticated in 2004. Main Issues faced by the Tata Group The current dilemma faced by the Tata Group is how to decide to proceed in the future with respect to the two brands: Tanishq and GoldPlus. The team of Tanishq claims that they can succeed in both the high end and the wedding jewellery market. However, Tanishq has been trying to penetrate this segment for a long time now, with limited success.

The emergence of GoldPlus has given the group a different option. The pilot phase of GoldPlus, implemented in Ratlam and Erode, has been a success and shown a lot of promise for expansion. However, there are worries over whether this success can be scaled over a much larger level. Also, there are worries from Tanishq’s side that having spent a lot of effort and investment to move into the lower end market, GoldPlus will undo all the good work. Being from the same brand, but having very different policies (like negotiations being allowed in GoldPlus) will create complications for both brands.

Way Ahead: The overall strategy of Tata Group will be to make sure that the two brands, Tanishq and GoldPlus, cover all the segments present in the market. While Tanishq will mainly focus on the high-end customers and GoldPlus on the lower-end customers, they will have a small overlap of products which would appeal to both segments. There can be a bit more collaboration from both sides, with Tanishq’s smaller products being sold in GoldPlus, and the higher end GoldPlus items could be displayed in Tanishq showrooms as well.

Items sold across both stores could include earrings, bangles, rings and pendants. Tanishq has not been able to penetrate the semi-urban and traditional markets well, despite its consistent efforts over the years. Hence, it’s logical to stay with the core competency of being a differentiator, and focussing on the high end market, while allowing a new brand to go for the traditional segment. This decision has been taken keeping in mind the expected rise in disposable incomes of the middle class as well the number of earning single/working women in the years to come, by being a product differentiator.

Hence, there is expected to be a sufficient market for the high end products for Tanishq, and enough room for GoldPlus to operate as well in semi-urban and lower-income urban areas by being a cost-leader. In order to scale what GoldPlus did, Mr. LR Natarajan has to train selected brand managers for each state or region who will in turn device customized strategy to capture local markets. How to capture respective markets? Suggested strategy for Tanishq : * Tanishq should concentrate its efforts on Balancer and Display driven segments. With the number of high income families increasing Tanishq can exploit the spending power of people by offering small budget (5-10K) jewellery. * Tanishq should give some assured gift to customers who buys in bulk from them for special occasions like marriage, engagement etc. * Tanishq should put up its displays in high end places like malls in posh areas, corporate functions etc. Tanishq can get in established actresses which can portray both the old tradition and a fresh energy to attract older generation to Tanishq. Tanishq should start sponsoring daily soaps because a lot of women are influenced by what is portrayed on the screen, both in terms of glamour and values thus targeting both buyer groups. * Tanishq should offer some value added services like ability to pay in instalments to target working women, home delivery of orders. * Tanishq should try to tie up with high end boutiques who sell bridal dresses, so that the designers can suggest the customer matching jewellery from Tanishq. We can give a special catalogue to such boutiques. Tanishq can a have tie up wedding planners and can give discounts to referred such buyers.

Suggested strategy for GoldPlus : * GoldPlus should open new stores in semi urban and urban areas as well to tap the potential which was not captured by Tanishq. In semi urban or rural areas they should position the Stores strategically so that it covers maximum number of surrounding areas effectively. * The local Karigars should be from the same region to incorporate the flavour and sensibilities of the region. * One of the main advantages going to the Local vendors is the Credit facility. GoldPlus should capitalise on this by providing credit facilities through tie-ups with local banks or by themselves. Since there is a significant portion of Old gold is destroyed and remade during marriages , there is a huge opportunity for GoldPlus to enter by giving “Gold Exchange Programs” with a minimal amount reduction for the old gold price. * In cities GoldPlus can contact big corporate houses for bulk gold coin contracts. * GoldPlus should put promote aggressively on festivals like Diwali, Dhanteras and specially on local festivals like Akshaya tritia, Pongal, Onam etc. because traditional people buy a lot of gold during festive seasons as it is considered to be auspicious.

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Convenience Store: Executive Summary and Pro Forma

TERM PROJECT Executive Summary and Pro Forma Jeyhun Taghiyev Park University Executive Summary Brothers’ is a convenience store located in Basehor, Kansas. This family owned business is conveniently located and the cross section of two major highways (K-7 and I-70). This small company expects to capture market share by becoming the low cost leader in the convenience store market by pricing competitively, providing excellent service and products.

The major products offered include: newspapers, magazines, soft drinks, fruit juices, sport drinks, hot and cold snacks, limited grocery items such as canned goods, microwaveable meals, bread, auto products such as fuel additives and cleaning supplies, pet supplies, paper products and toothpaste. Management Since its family business Brother’s management team will consist of Jim Storm, Jack Storm and other the Storm family members. Jim will be an owner and main operator of the business. He will run all aspects of operations. Jack will assist in daily operations of the store as needed and can assist with bookkeeping and financial reporting.

Other family members – Tom and John will be responsible from sales, marketing and human resources relatively. But main weakness is they are fresh graduates and don’t have marketing experience. Second, disadvantage is family is not much familiar with this location. Additionally, company will have mid-level management, such as warehouse manager that will be responsible for inventory of all products and facilities manager to oversee the stocking of the products, maintenance and replacement of equipments. Because the company is a start-up, there will be formal structure at first.

Additional personnel and departments will be added as soon as store will grow. For future company plans to attract employees for management positions as new locations will be opened. Strategic Plan Mission Mission of Brother’s is to create a new distribution outlet that will significantly reduce prices for its customers and provide greater services with an equal level of quality, where customers will find authentic, hard to find, grocery items from around the world. Goals * Get needed funding to start up business * Achieve profitability by August * Achieve nearly $300,000 in sales by Year 2 * Start up second store by the end of year Achieve cash flow self-sufficiency by the end of the first year Situation Analysis (SWOT) Strengths: Convenient location of store in the cross section of two major highways is Brother’s main strength. Main competitor Aldi stores went out of business, due to high lease rates at that location. Brother’s has the advantage of being a business based on reserve, where rent is not a factor in operations. Overall, the environment appears very positive. The forces driving market demand, mainly economic, are strong, with industry growth healthy and new residents moving into the area resulting in a greater demand for store products.

Weaknesses: One weakness is the location of store that is too far from suppliers. Due to the store’s far location transport costs might influence product costs. Opportunities: There is need to launch additional stores due to population of town. Also there is the opportunity to expand the product line(s) that the store carries. There is also the potential that the business may be able to employ local people part time. Other services being considered to present are ATM (Automated teller machine), lower sales, local crafts, fresh coffee.

Threats: The major threat is the possibility of the emergence of new competitors. But Jim will establish a loyal customer base to alleviate transfer of customers to another business. Market Serviced Our target market for our test store encompasses eight mile radius in which the approximate population is 160,000 (based on census information). The majority of the residents in this area are Americans (58. 8%) Black (23. 6%) and Hispanic (19%) with occupations classified as professional/technical, homemaker, or retired. The majority of household incomes range from $20,000 – $30,000 (50. %), yet there are also affluent household incomes ranging from $50,000 – $100,000 (15. 4%). The median income in this area is $47,096, compared to the whole Kansas area which is $33,248. The typical “head of household” age is 25 – 34 (22. 4%) or age 34 – 44 (23. 1%) with a median age of 44. 4 years old and an average age of 32 years old. Convenience stores serve the entire purchasing population of its geographical area but focuses on customers who need to purchase items outside of normal working hours such as hourly employees and quick shoppers looking for snacks and related items.

Relying on statistics residents spend $30. 6 million dollars per year on grocery store and other food products. Based upon the number of households and the average spending residents spend $16,872. 00 per year on grocery store and other food products. Calculating the average spending it is estimated that Brother’s Convenience Store could conservatively gross $100,000. It is anticipated that the market penetration will increase over the next five years from 5% of local residents spending to 10%, and the client market area will increase to a 15-block radius.

Financing Capital The amount and uses of capital required in this business is very little. Brother’s is a small, local and entrepreneur business and it will not require major assets and liabilities to operate. In order for the business to run smoothly and keep up with its finances, Brother’s will use the following assets and liabilities: accounts receivable, accounts payable and inventory. These three items will be used daily to ensure the expenses and revenues are accurately documented. The budget to start the convenience store is $250,000.

This includes purchasing the building, equipments, licenses and fees, items (for purchase) in the store, administrative items and salary for employees for two months. All capital will be financed by Storm family. Companies or individuals looking to invest their money and time can benefit from this small business. The convenience store is not a nation wide competition or a serious threat to other business like companies. Investors can feel secured and confident that Brother’s will profit and expand their business. 10-year Income Pro Forma and After Tax Cash Flow

Following costs will be spent to start business besides asset and equipment: Advertising| Start Date| End Date| Budget| Manager| Implemented by| Radio spot writing and recording| 3/1/2012| 2/15/2012| $2,500 | CEO| Ad Firm| New print ad design| 1/15/2012| 2/1/2012| $1,000 | CEO| Designer| Total Advertising Budget| | | $3,500 | | | PR| Start Date| End Date| Budget| Manager| Department| Redesign marketing kit| 2/15/2012| 2/28/2012| $500 | CEO| Designer/CEO| Create target press list| 3/1/2012| 3/15/2012| $0 | CEO| CEO| Send first round of press releases for theme nights| 3/15/2012| 3/31/2012| $0 | CEO| CEO| Total PR Budget| | | $500 | | |

Direct Marketing| Start Date| End Date| Budget| Manager| Department| Direct mail list development and card design| 2/1/2012| 2/15/2012| $1,500 | CEO| CEO/Designer| Design customer postcard mailing template| 3/15/2012| 3/31/2012| $250 | CEO| Designer| Second list development| 8/1/2012| 8/15/2012| $500 | CEO| CEO| Total Direct Marketing Budget| | | $2,250 | | |

Web Development| Start Date| End Date| Budget| Manager| Department| Website redesign| 2/1/2012| 3/31/2012| $5,000 | CEO| Designer| Face book page design | 4/1/2012| 4/30/2012| $500 | CEO| Designer| Email newsletter template design| 4/1/2012| 4/30/2012| $500 | CEO| Designer| Total Web Development Budget| | | $6,000 | | |

Other| Start Date| End Date| Budget| Manager| Department| Marketing training, planning & curriculum writing| 5/1/2012| 5/15/2012| $1000 | CEO| CEO/Managers| Begin monthly bonus program| 6/30/2012| 7/31/2012| $1000 | CEO| CEO/Managers| Customer feedback system implement (print cards, create box, train employees, create database to track)| 4/1/2012| 4/30/2012| $3,500 | CEO| CEO/Managers| Total Other Budget| | | $5,500 | | | Totals| | | $18,700 | | | Sales Growth

Since store will be a stand-alone, remote facility, there is little in the way being able to directly influence how to close the sales other than to have an attractive storefront with low prices and easy-to-use system. One critical procedure to ensure top customer service and reliability will be establishing a method for keeping enough inventories of all products. Industry data will be used on inventory for other convenience store chains for assistance . Based on a 20% mark-up, forecasted sales for years are depicted in chart below. This gives us an average 27% increase from year to year.

This may seem very high, but considering the level of initial sales and the growth possibilities, management actually considers this to be conservative. Financial Statements Statement of Cash Flow| YEAR| | 1| 2| 3| 4| 5| 6| 7| 8| 9| 10| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Cash Sales| | $710,000 | $830,780 | $980,860 | $1,166,550 | $1,376,530 | $1,624,310 | $1,916,680 | $2,261,690 | $2,668,790 | $3,149,170 | | | Subtotal Cash from Operations| | $710,000 | $830,780 | $980,860 | $1,166,550 | $1,376,530 | $1,624,310 | $1,916,680 | $2,261,690 | $2,668,790 | $3,149,170 | | | | | | | | | | | | | | | | |

New Current Borrowing| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $5,000 | $0 | | | | | | | | | | | | | | | | | New Long-term Liabilities| | $0 | $500,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | | | Sales of Other Current Assets| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | | | | | | | | | | | | | | | | | New Investment Received| | $0 | $0 | $0 | $0 | $500,000 | $0 | $0 | $0 | $0 | $0 | | | Subtotal Cash Received| | $710,000 | $1,337,800 $988,600 | $1,166,550 | $1,876,530 | $1,624,310 | $1,916,680 | $2,261,690 | $2,718,790 | $3,149,170 | | | Expenditures| | YEAR 1| YEAR 2| YEAR 3| YEAR 4| YEAR 5| YEAR 6| YEAR 7| YEAR 8| YEAR 9| YEAR 10| | | Expenditures from Operations| | | | | | | | | | | | | | Cash Spending (x10) | | $12,700 | $12,700 | $12,700 | $12,700 | $12,700 | $12,700 | $14,200 | $14,200 | $15,700 | $15,700 | | | Bill Payments(x10)| | $12,062 | $120,914 | $94,045 | $108,734 | $126,066 | $146,518 | $170,637 | $198,680 | $232,293 | $272,239 | | | Subtotal Spent on Operations| | $247,620 | $1,336,140 | $1,067,450 | $1,214,340 | $1,387,660 | $1,592,180 | $1,848,370 | $2,128,800 | $2,499,930 | $2,879,390 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

Purchase Other Current Assets| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | | | Purchase Long-term Assets| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | | | Dividends| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | | | Subtotal Cash Spent| | $247,620 | $1,336,140 | $1,067,450 | $1,214,340 | $1,387,660 | $1,592,180 | $1,848,370 | $2,128,800 | $2,499,930 | $2,879,390 | | | Net Cash Flow| | $462,380 | $1,660 | ($78,850)| ($47,790)| $488,870 | $32,120 | $68,310 | $132,890 | $238,860 | $269,790 | | | Tax, | | $184,953 | $664 | $(31,540) | $(19,116) | $195,548 | $12,848 | $27,324 | $53,156 | $95,544 | $107,916 | | | After Tax Cash Flow| | $277,428 | $996 | $47,310 | $28,647 | $293,322 | $19,272 | $40,986 | $79,734 | $143,316 | $161,874 | | | Income Statement| Year| | 1| 2| 3| 4| 5| 6| 7| 8| 9| 10| | |

Sales| | $710,000 | $830,780 | $980,860 | $1,166,500 | $1,376,530 | $1,624,310 | $1,916,680 | $2,261,690 | $2,668,790 | $3,149,170 | | | Direct Cost of Sales(x10)| | $54,670 | $64,511 | $76,123 | $89,825 | $105,993 | $125,072 | $147,585 | $174,150 | $205,497 | $242,486 | | | Other Costs of Goods| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | | | Total Cost of Sales(x10)| | $54,670 | $64,511 | $76,123 | $89,825 | $105,993 | $125,072 | $147,585 | $174,150 | $205,497 | $242,486 | | | Gross Margin(x10)| | $16,330 | $19,269 | $22,738 | $26,831 | $31,660 | $37,359 | $44,084 | $52,019 | $61,382 | $72,431 | | | Gross Margin %| | 23. 00% | 23. 00% | 23. 00% | 23. 00% | 23. 00% | 23. 00% | 23. 00% | 23. 00% | 23. 00% | 23. 00% | | | Expenses| | | | | | | | | | | | | |

Payroll(x10)| | $12,700 | $12,700 | $12,700 | $12,700 | $12,700 | $12,700 | $14,200 | $14,200 | $15,700 | $15,700 | | | Sales and Marketing and Other Expenses(x10)| | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | | | Depreciation(x10)| | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | | | Leased equipment(x10)| | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | | | Rent(x10)| | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | | | Utilities(x10)| | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | | | Accounting/bookeeping(x10)| | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | | | Insurance(x10)| | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | | | | | | | | | | | | | | | | |

Other(x10)| | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $3,000 | $4,000 | | | Total Operating Expenses| | $354,000 | $354,000| $354,000| $354,000| $354,000| $354,000| $369,000 | $369,000 | $394,000 | $404,000 | | | Profit Before Interest and Taxes(x10)| | ($19,070)| ($16,131)| ($12,662)| ($8,569)| ($3,740)| $1,959 | $7,184 | $15,119 | $21,982 | $32,031 | | | EBITDA| | ($184,700)| ($155,310)| ($120,620)| ($79,690)| ($31,400)| $25,590 | $77,840 | $157,190 | $225,820 | $326,310 | | | Interest Expense(x10)| | $958 | $1,375 | $1,375 | $1,375 | $1,375 | $1,375 | $1,375 | $1,375 | $1,417 | $1,417 | | | Taxes Incurred(x10)| | $6,008)| ($5,252)| ($4,211)| ($2,983)| ($1,534)| $175 | $1,743 | $4,123 | $6,170 | $9,184 | | | Net Profit| | ($140,200)| ($122,540)| ($98,260)| ($69,610)| ($35,800)| $4,090 | $40,660 | $96,210 | $143,960 | $214,300 | | | Net Profit/Sales| | -19. 75% | -14. 63% | -9. 94% | -5. 97% | -2. 60% | 0. 25% | 2. 12% | 4. 25% | 5. 39% | 6. 80% | | | We used after tax cash flow from cash flow statement above to calculate NPV of this project. Following equation is used to calculate NPV: NPV = CF0+ CF1/(1+k)1 + CF2/(1+k)2 + ……. + CFn/(1+k)n where k is cost of capital that we considered it as 10% NPV = -250,000 + 277,428/(1. 01)1+ 996/(1. 01)2 + 47,310/(1. 01)3+28,674/(1. 01)4+ 293,322/(1. 01)5+19,272/(1. 01)6+ 40,986/(1. 01)7+ 79,734/(1. 1)8+ 143,316/(1. 01)9+ 161,874/(1. 01)10 = $293,025. NPV of project is greater than initial investment that suggests this project is profitable. The Internal Rate of Return (IRR) is defined as the discount rate that equates the present value of project’s expected cash inflows to the present value of the project’s cost. That is, we solve for a discount rate that produces a zero net present value (NPV). Following equation used to calculate IRR: CF0+ CF1/(1+IRR)1 + CF2/(1+IRR)2 + ……. + CFn/(1+IRR)n = 0 We find that IRR is 41%. This is greater than cost of capital which is 10%, so we can conclude from IRR method that project will be profitable.