Changing Demographics in the UK and Europe Essay

Changing Demographics in the UK and Europe - Essay Example To prevent work-related stress, each employee should make it a habit to exercise on a regular basis. To decrease the number of unemployed youth, it is necessary to control the inflow of the immigrants. Doing so will provide the youth the opportunity to gain work experiences needed to make the future workforce of UK and Europe more competitive. Table of Contents Executive Summary †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 2 Table of Contents †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3 I. Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 4 II. Total Population in UK and Europe †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 4 III. Significan ce of UK and Europe Demographics on Employment †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..................................†¦. 5 IV. Significance of UK and Europe Demographics on the Local Businesses †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.................................†¦. 7 V. Conclusions and Recommendations †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 8 Appendix I – Population Trend in UK †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦............................. 10 Appendix II – Long-Term International Migration Into and Out of the UK †¦.............................................................. ... .................................†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 15 References †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.........†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 16 - 17 Introduction Defined as the â€Å"balance of a population especially with regards to density and capacity for expansion or decline† (Merriam-Webster, 2012), demographic composition of a nation includes a wide-range of variables such as gender, age, race, nationality, employment status, location of residences, and home ownership among others. Due to the global economic crisis, the number of people who are unemployed has been increasing over time past few years (Gregory, 2011). Globalization does not only mean removing the barriers on trading but also the movements of the labour forces. This explains why some people view globalization as a great threat on employment. Considering the on-going changes in the demographics of UK and Europe particularly with regards to youth unemployment and the ageing workforce, this report will focus on analyzing how changes in demographics can affect the local business organizations and how demographic data serves as useful information in terms of making important business management decisions. In response to the case of high unemployment rate, Total Population in UK and Europe The trend in UK population is following an upward trend. From 61.8 million, the total population in UK is reported to have reached 62.6 million in 2011 and again to increase up to 64.8 million in 2016 (Beaumont, 2011, p. 3). Other than live births, one of the main reasons why the UK population is continuously increasing is due to the upward trend of immigration (p. 7). In the case of UK, earning British citizenship through residence grant is more common than granting British

An Examination of General and Specific Motivational Mechanisms Essay Example for Free

An Examination of General and Specific Motivational Mechanisms Essay Luc G. Pelletier and Stà ©phanie C. Dion’s report entitled An Examination of General and Specific Motivational Mechanisms for the Relations Between Body Dissatisfaction and Eating Behaviors aims to examine the relationship of body dissatisfaction with eating behaviors through a study of the different models of regulation of eating behaviors used by women. The study mainly uses the Self-Determination Theory (SDT) as a framework for examination of socio-cultural pressures and the `thin-ideal` as factors for body dissatisfaction and, in turn, body dissatisfaction as a cause of eating-related problems like binge eating, dietary restraint, and bulimia. Lastly, the study also looks at two different levels of motivation to explain the differences in the responses of women to socio-cultural pressures regarding body image, which lead to a difference in eating patterns. These two are the general self-determination or a sense of self-determination toward ones life and self-determination towards eating. Negative body image and its causes and effects have been the subject of many studies during the past decade. Due to its popularity as a topic for research, many of its findings are well-known and accepted by society at present. Among these are the role of media, peers, family, puberty and others in reinforcing the thin ideal, the relationship of women’s perceived discrepancies between their body ideal and body image with their satisfaction with their own body and the effect of negative body images to women’s eating habits. However, a review of the existing literature about body image reveals many interesting and sometimes unexpected findings. The first among these is the main basis of this study, which is self-determination. Deci and Ryan’s Self-Determination Theory shows that the level of women’s general self-determination in life may serve as a shield against the effect of the pressure exerted by society for women to be thin. This is interesting because this will show how body-image can be approached as a cyclical issue when joined with the findings on how positive body image can lead to confidence then to a positive self-determination. Second, body image may have an effect on many positive qualities such as attractiveness, success and intelligence. This shows attractiveness as more than just a fixed variable. It is not merely affected by the physical attributes one is born with, but also by how one feels about these physical attributes. Moreover, it emphasizes the gravity of the consequences that either a positive or negative body image may cause. Its affects can extend onto many non-physical aspects of a person’s life. In fact, another research shows that pressures from society to be thin can change individual core beliefs as regards the importance of physical appearance compared with other values. Another interesting finding is that body dissatisfaction may be addressed by either self-reinforcement or by aiming to change one’s appearance. People are more familiar with the second approach, which includes exercising and dieting. However, it is interesting to find that grooming and other forms of self-reinforcement are also used. While these forms of self-reinforcement may have been admitted to be used by people to enhance their self-image, it is not easily identifiable to have a direct correlation to body image. Moreover, this type approach shows a more positive and less destructive way of addressing issues on body image.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Seven hypotheses were tested in the research. They are stated in the article as follows. First, general self-determination will be negatively associated with both socio-cultural pressures about body image and the endorsement of society’s beliefs about thinness and obesity. Second, socio-cultural pressures should be positively linked to the endorsement of society’s beliefs, which, in turn, will positively predict body dissatisfaction. Third, although body dissatisfaction is expected to positively predict both an autonomous and a controlled form of regulation of eating behaviors, it should lead mainly to a controlled regulation of eating. Fourth, the autonomous form of regulation of eating will be positively associated with healthy eating behaviors, whereas the controlled form of regulation will be positively associated with dysfunctional eating behaviors. Fifth, general self-determination should be positively associated with the autonomous form of regulation and negatively associated with the controlled form of regulation. Sixth, the autonomous regulation of eating behaviors will be positively associated with healthy eating behaviors and negatively associated with bulimic symptoms, whereas the controlled regulation of eating behaviors will be positively associated with dysfunctional eating and negatively associated with healthy eating behaviors. Finally, healthy eating behaviors should positively predict psychological adjustment, whereas dysfunctional eating should negatively predict psychological adjustment. These hypotheses aim to test the relationship of general self-determination, body image, body dissatisfaction, forms of regulation of eating behaviors, eating habits and psychological adjustment among each other. Methodology The study was done on 447 female students, ages 16 to 54 from two universities—the University of Ottawa and the Carleton University. Of these students 78.2% are taking undergraduate degrees from the University of Ottawa, 20% are graduate students from the same university, while the remaining 1.2% are enrolled at Carleton University. The researchers adopted several scales and indexes to test its hypotheses. Enumerated in the study are the General Motivation Scale (GMS), Teasing Assessment Scale, Body Dissatisfaction Subscale (EDI-BD), Regulation of Eating Behaviors Scale (REBS), Healthy Eating Habits Scale, Dysfunctional Eating (BULIT-R), Psychological Adjustment Index (PAI), Depressed Mood Scale (CES-D), Self-Esteem Scale (SES) and the Satisfaction with Life Scale (SWLS). The tests are composed of statements and questions, which the respondents assess using a Likert scale with around five to seven points for rating. The scales are usually divided in several subscales with equal number of items based on the nature of the hypothesis being tested. They have been previously used in other studies and their reliability and validity have been tested. Results and Discussion The study was able to prove all six hypotheses. These hypotheses will be discussed in three groups. These groups are general self-determination and determinants of body dissatisfaction, general self-determination and forms of regulation of eating behaviors and consequences of the forms of regulation of eating behaviors on psychological adjustment. The last group will be divided into the association of autonomous and controlled eating regulation to healthy and dysfunctional eating habits and the relationship of eating behaviors with psychological adjustment. The first discussion group pertains to the first and second hypotheses. Findings show that general self-determination has a positive association with autonomous regulation of eating behaviors, while it has a negative association with controlled regulation of eating. In relation to this, general self-determination has a negative relation with socio-cultural pressures about body image and the endorsement of society’s beliefs about thinness and obesity. On the contrary, socio-cultural pressures about body image and endorsement of society’s beliefs about thinness and obesity have a positive association, while the latter is positively associated with body dissatisfaction. The cause for this result was explained to be that the more women perceived socio-cultural pressures about body image, the more they internalized societal beliefs about thinness and obesity, which causes them to have body dissatisfaction. However, general self-determination allows them to be more motivated to act according to their own values, rather than be pressured socio-cultural messages of thinness. People with general self-determination are more likely to measure self-worth based on personal growth, meaningful relationships and other intrinsic values, rather than by using extrinsic values such as physical attractiveness. The second discussion group relates to the third and fifth hypotheses. It was found that both autonomous and controlled eating behaviors are good motivational mechanisms and have a positive association to body dissatisfaction. However, the association of controlled regulation, which is ÃŽ ² = .74 is stronger than autonomous regulation’s ÃŽ ² = .14. In addition to this, it was found that general self-determination in life caused them to be self-determined in the regulation of their eating behaviors, which is a specific life domain. The third discussion groups relates to the fourth, fifth and sixth hypotheses. As for the fourth and sixth hypotheses, majority of women who are dissatisfied with their body image eat in a restrictive manner due to the motivation to reduce body dissatisfaction caused by internal pressures such as guilt or shame or external pressures such as media and parents about body image and the endorsement of beliefs about thinness and obesity. Controlled regulation has a positive association with dysfunctional eating behaviors and a negative associated with healthy eating behaviors. On the contrary, women with greater self-determination tend to have healthy eating habits because they have less probability of perceiving socio-cultural pressures about body image and internalize societal beliefs about thinness and obesity. Unlike its negative relation with dysfunctional eating behaviors, autonomous regulation has a positive relation to healthy eating behaviors. Lastly, as regards the last hypothesis, positive psychological adjustment are found have a positive connection with healthy eating behaviors. On the contrary, it has a negative relation with dysfunctional eating behaviors. The results of the study suggest that healthy eating behavior may be a necessary condition for global psychological adjustment. These findings may provide new approaches to understanding and treating body image-related issues and eating disorders. Having built the relationship between body dissatisfaction and eating disorders, specialists may focus on increasing self-esteem rather than emphasizing the evils of unhealthy eating habits. They may also begin looking at the motivational perspective introduced in the study and adapt treatment according to what motivates a woman to adopt weight control habits. Summary In summary, the results were interpreted to show that societal pressures and self-determination may be seen as competing factors that determine body dissatisfaction, with societal pressures as the cause for the endorsement of societal beliefs about obesity and thinness, while self-determination as the buffer against it. Both body dissatisfaction and self-determination have an effect on the kind of eating regulation a woman may adopt. This may result to either a healthy or dysfunctional eating habit among women. However, the authors offered an alternative explanation for the results. The explanation is actually a reverse of the second hypotheses. According to the authors, body dissatisfaction may have been the cause for women to endorse society’s belief, rather than the inverse, because such dissatisfaction may lead women to pay more attention socio-cultural pressures about body image.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Several other topics related to this area of research may be examined in the future. First, researchers can look at satisfaction or dissatisfaction caused by the body image formed relative to the body type of the person with whom a subject has constant contact with. Some people may feel less overweight when placed with obese people than when placed with thin people and vice versa. Second, researchers may delve into more deeply into other means women address body dissatisfaction such as exercise, and determine what factors cause women to choose a certain approach. This may also be related to general self-determination such that researchers may examine which between exercising or other means of addressing body dissatisfaction and dieting, or a combination of both, is used by women with different levels of self-determination. Lastly, the present study may also be replicated using different genders, attributes, and means of addressing body dissatisfaction. Very interesting results may arise from the study of gays and lesbians.

The Economics of Game Theory :: Game Theory Players Rules Essays

The Economics of Game Theory Consider this : Could Western management techniques be successfully implemented in the countries of Central and Eastern Europe (CEE) ? Granted, they have to be adapted, modified and cannot be imported in their entirety. But their crux, their inalienable nucleus – can this be transported and transplanted in CEE ? Theory provides us with a positive answer. Human agents are the same everywhere and are mostly rational. Practice begs to differ. Basic concepts such as the money value of time or the moral and legal meaning of property are non existent. The legal, political and economic environments are all unpredictable. As a result, economic players will prefer to maximize their utility immediately (steal from the workplace, for instance) – than to wait for longer term (potentially, larger) benefits. Warrants (stock options) convertible to the company’s shares constitute a strong workplace incentive in the West (because there is an horizon and they increase the employee’s welfa re in the long term). Where the future is speculation – speculation withers. Stock options or a small stake in his firm, will only encourage the employee to blackmail the other shareholders by paralysing the firm, to abuse his new position and will be interpreted as immunity, conferred from above, from the consequences of illegal activities. The very allocation of options or shares will be interpreted as a sign of weakness, dependence and need, to be exploited. Hierarchy is equated with slavery and employees will rather harm their long term interests than follow instructions or be subjected to criticism – never mind how constructive. The employees in CEE regard the corporate environment as a conflict zone, a zero sum game (in which the gains by some equal the losses to others). In the West, the employees participate in the increase in the firm’s value. The difference between these attitudes is irreconcilable. Now, let us consider this : An entrepreneur is a person who is gifted at identifying the unsatisfied needs of a market, at mobilizing and organizing the resources required to satisfy those needs and at defining a long-term strategy of development and marketing. As the enterprise grows, two processes combine to denude the entrepreneur of some of his initial functions. The firm has ever growing needs for capital : financial, human, assets and so on. Additionally, the company begins (or should begin) to interface and interact with older, better established firms.

Inventory Accounting at Wal Mart Stores Essay

From the annual reports we can conclude that Wal-Mart operates its stores as mass discount retailers, carrying between 60,000 and 90,000 different merchandise items in each store. Wal-Mart purchases more than $22 billion in merchandise, turning its inventory over as often as 4.5 times per year. Sam Club carries between 3,500 and 5,000 different merchandise items, acquiring more than $2.6 billion in merchandise. Wal Marts operations grew from 2003 to 2005. For example, the number of Wal-Mart stores increased and the number of Sam’s stores increased. WalMart utilized an extensive distribution and tracking system to maintain optimal inventories at each store. They use the retail last-in, first-out (LIFO) inventory accounting method for the Wal-Mart Stores segment, cost LIFO for the SAM’S CLUB segment. For both financial reporting and tax purposes, Wal Mart used the accrual method of accounting and maintained a perpetual inventory system. Under the perpetual inventory system, the cost or quantity of goods sold or purchased is contemporaneously recorded at the time of sale or purchase. The system continuously shows the cost or quantity of goods that should be on hand at any given time. WalMart performed physical inventories to confirm the accuracy of the inventory as stated in the books, and made adjustments to the books to reconcile the book inventory with the physical inventory. WalMart’s physical inventories were taken at its stores in rotation throughout the year. They did not take physical inventories during the holiday season (November, December, and the first week of January). WalMart refers to this technique, which is common in the retail industry, as cycle counting. Cycle counting is necessitated by the difficulty in conducting physical inventories at every store on the last day of the year. This technique also provides management with feedback on the effectiveness of its inventory management and facilitates the use of experienced personnel to conduct the physical inventories. Forty-five days prior to conducting a physical inventory in one of its stores, Wal-Mart’s internal audit department sends the store a preparation package, which included instructions on how to prepare for the physical count. Each physical count is then conducted by a team of independent  counters (18 to 40 persons) and representatives from Wal-Mart’s loss prevention department (1 to 2 persons), internal audit department (1 to 3 persons), and operations division (1 to 2 persons). Wal-Mart’s independent auditors, Ernst & Young, also sent representatives to randomly selected physical counts to test their accuracy. The independent counters generally counted every inventory item. The results of the physical count were then reconciled with the book inventory. The reconciliations is reviewed by Wal-Mart’s internal audit department. Generally, Wal-Mart does not record the results of a physical inventory in its books until the following month. Sam’s Club conducs its physical inventories in the same manner except that physical counts are usually taken twice a year and recorded the very next day. Sam’s also periodically conducted item audits, counting the goods on hand for a particular merchandise unit and recording those results the next day. The physical inventories of both Wal-Mart and Sam’s usually revealed shrinkage. Shrinkage (or overage) is the difference between the inventory determined from the perpetual inventory records and the amount of inventory actually on hand. Because shrinkage reduces profits, WalMart has devoted extensive resources to monitoring and mitigating shrinkage. There are many causes of shrinkage, including employee theft, customer theft, vendor theft, damage, accounting and recording errors, errors in marking retail prices, cash register errors, markdowns taken and not recorded, errors in accounting for customer returns, and errors in accounting for vendor receipts and returns. Because Wal Mart does not conduct a physical inventory at year-end, its perpetual inventory records do not account for any shrinkage that may have occurred during the period between the date of the last physical inventory and the taxable year-end. The parties refer to this period as the stub period. Left unadjusted, the book records could overstate income because the stub period shrinkage results in a decrease to ending inventory, thus increasing the cost of goods sold and reducing gross income. In adjusting its books to reflect stub period shrinkage, Wal-Mart estimates  stub period shrinkage for each store monthly by multiplying a retail shrinkage rate by the store’s sales during that month. At new stores, the retail shrinkage rate fixed by management at 2% of sales. Wal-Mart used that fixed rate from the date the store opened until its first physical inventory. After taking the first physical inventory at a new store, Wal-Mart computed a shrinkage rate for that store by dividing the store’s shrinkage at retail, as verified by the first inventory, by the store’s sales for the period starting with the date the store opened and ending on the inventory date. Sam’s consistently estimates the stub period shrinkage at .2% of sales. That rate was determined by management based on their analysis of historical results from warehouse operations. Wal-Mart estimates shrinkage for each store, but not for each department within each store. It used a series of computations to allocate the estimated stub period shrinkage to each department. Once these allocations were made, Wal-Mart used the adjusted ending inventory to make its LIFO computations, which were made on a division-wide basis and not at the individual store level. The practice of estimating shrinkage as a percentage of sales is prevalent in the retail industry. A company may estimate year-end shrinkage if the estimate methodology (1) conforms to the best accounting practice in the trade or business and (2) clearly reflects income. There is nothing in WalMarts accounting for inventory that raise suspicion about their inventory not reflecting true numbers. Inventories are not recorded in excess of market value. Historically, they have rarely experienced significant occurrences of obsolescence or slow moving inventory. However, future changes in circumstances, such as changes in customer merchandise preference or unseasonable weather patterns, could cause the Company’s inventory to be exposed to obsolescence or be slow moving. The inventory system is commonly revered as the finest in the retail industry and WalMart is perhaps the best example of the importance of a high  inventory turnover rate to succeed in this industry. Increased turnover and increased sales at the same time — that’s great inventory management.

Franchising and Domino

PROJECT REPORT ON SUPPLY CHAIN MANAGEMENT OF DOMINO’S PIZZA SUBMITTED TO:SUBMITTED BY:DR. HAIDER ALI KUMAR SHANTANU ROLL NO. 22 1 MBA(E-BUSINESS) SEMESTER IV TABLE OF CONTENTS SL NO. 1. 2. 3. 4. 5. 6 7. PARTICULARS ABOUT DOMINO’S PIZZA DOMINO’S IN INDIA MENU IN DOMINO’S COMPETITIVE STRENGTHS OF DOMINO’S BUSINESS STRATEGY OF DOMINO’S STORE OPERATIONS SUPPLY CHAIN OF DOMINO’S PAGE NO. 3 3 5 6 7 9 12 2 ABOUT DOMINO’S PIZZA Founded in 1960, Domino's Pizza is the recognized world leader in pizza delivery operating a network of company-owned and franchise-owned stores in the United States and international markets. Domino's Pizza's Vision illustrates a company of exceptional people on a mission to be the best Pizza Delivery Company in the world. Domino's started out small with the legendary Tom Monaghan who bought his first pizza store and called it Dominick's. It was re-christened Domino's Pizza in 1965. HoDomino’sver, in 1978, the 200th Domino's store opened, and things really began to cook. By 1983 there Were 1000 Domino's stores, rising to 5000 in 1989. Today, there are more than 9000 franchised and company owned stores in the United States and 60 international markets . Domino's is listed on the NYSE under the symbol â€Å"DPZ. † The Domino's Pizza ® brand was named a Megabrand by Advertising Age magazine. Domino's Pizza was named â€Å"Chain of the Year† by Pizza Today magazine, the leading publication of the pizza industry. In 2009, Domino's ranked number one in customer satisfaction in a survey of consumers of the U. S. argest limited service restaurants, according to the annual American Customer Satisfaction Index (ACSI). Domino's has expanded its menu significantly since 2008 to include Oven Baked Sandwiches and BreadBowl Pasta, and recently debuted its ‘Inspired New Pizza'- a permanent change to its core hand-tossed product, reinvented from the crust up with new sauce, cheese and garlic seasoned crust. DOMINO’S IN INDIA Jubilant Food Works Limited, a Jubilant Bhartia Group Company holds the Master Franchisee Rights for Domino's Pizza for India, Nepal, Sri Lanka and Bangladesh. The company has been listed on the Indian btheses recently. Prior to Sep 24, 2009, the company was known as Domino's Pizza India Limited and underwent a name change, rest of the terms remaining the 3 same. The promoters of the company are Mr. Shyam S Bhartia, Mr. Hari S Bhartia and Jubilant Enpro Private Ltd. Domino's Pizza opened its first store in India in January 1996, at New Delhi. Today Domino's Pizza India has grown into a countrywide network of more than 300 stores with a team of over 9,000 people. According to the India Retail Report 2009, It was the largest Pizza chain in India and the fastest growing multinational fast food chain betDomino’sen 2006-2007 and 2008-2009 in terms of number of stores. Over the period since 1996, Domino's Pizza India has remained focused on delivering great tasting Pizzas and sides, superior quality, exceptional customer service and value for money offerings. It has endeavored to establish a reputation for being a home delivery specialist capable of delivering pizzas within 30 minutes or else FREE to a community of loyal consumers from all the stores around the country. Domino's vision is focused on † Exceptional people on a mission to be the best pizza delivery company in the world! â€Å". It is committed to bringing fun, happiness and convenience to lives of the consumers by delivering delicious pizzas to their doorstep and efforts are aimed at fulfilling this commitment towards a large and ever-growing customer base. Domino's constantly strives to develop products that suit the tastes of the consumers and hence delighting them. Domino's believes strongly in the strategy of ‘Think global and act local'. Thus, time and again it has been innovating with delicious new products such as crusts, toppings and flavthes suitable to the taste buds of Indian Consumers. Further providing value for money and affordable products to the consumers has been an important part of it’s efforts. Domino’s initiatives such as Fun Meal and Pizza Mania have been extremely popular with consumers looking for an affordable and value for money meal option. The Brand Positioning of Khushiyon ki Home Delivery (Happiness Home delivered) is the emotional benefit it offers to the consumers. All the efforts, whether it is a new innovative and delicious product, offering consumers value for money deals, great service, country wide presence or delivery in 30 minutes or free are all oriented towards delivering happiness to the homes of the consumers. Consumers can order their pizzas by calling the single Happiness Hotline number 1800-111-123 (in most cities of Domino's Pizzas Presence) and 44448888 (in NCR, Mumbai and Bangalore). 4 MENU IN DOMINO’S VEGETARIAN SIMPLY VEG Margherita Cheese and Tomato pizza VEG I Double Cheese Margherita Fresh Veggie Country Special Farm House VEG II Peppy Paneer Mexican Green Wave Deluxe Veggie Gthemet FEAST PIZZA Veg Extravaganza NON-VEGETARIAN SIMPLY NON VEG Cheese And Barbeque Chicken NON VEG I Barbeque Chicken Spicy Chicken NON VEG II Chicken Mexican Red Wave FEAST PIZZA Meatzaa Keema Do Pyaaza Non Veg Extravaganza Chicken Golden Cheese And Delight Pepperoni SIDE ORDERS 5 VEGETARIAN Veg Mexican Wrap Veg Pasta Italiano White Veg Pasta Italiano Red Garlic Breadsticks Cheese Jalapeno Dip Cheese Dip Choco Lava Cake NON-VEGETARIAN Veg Mexican Wrap Veg Pasta Italiano White Veg Pasta Italiano Red Chicken Wings COMPETITIVE STRENGTHS OF DOMINO’S ? Strong and proven growth and earnings model:- Over a 50- year old history, it has developed a focused growth and earnings model. This model is anchored by stong store-level economics, which provide an entrepreneurial incentive for franchise, and generate demand for new stores. The franchise system in return has produced strong and consistent earnings through supply chain and royalty payments revenue, with minimal associated capital expenditures. Strong store-level economics:- It has developed a cost-efficient store model, characterized by a delivery and carry-out oriented store design, with low capital requirements and a focused menu of quality, affordable pizza and complimentary side items. At the store level, it believes that simplicity and efficiency of operations gives it advantages over its competitors. ? Strong and Overall-diversified franchis e system:- It has developed a large, global and diversified franchise network that is critical component of its system-wide success and efficient pizza delivery. The franchise system network consists of 8284 stores, 55% of which are located in United States. 6 ? Strong cash flow and earnings stream:- A substantial percentage of the earnings are generated by the commited, owner-operator franchises through royalty payments and revenues to vertically integrated supply chain system. ? Strong brand awareness:- Domino’s pizza brand is one of the most widely known consumer brand in the world. Consumers associate the brand with timely delivery of pizza, affordable pizza and complimentary side items. Domino’s brand has been routinely recognized as a megabrand by â€Å"Advertising Age†. Internal dough manufacturing and supply chain system:- In addition to generating significant revenues and earnings, the vertically integrated dough manufacturing and supply chain system enhances the quality and consistency of the products and the relationship with the franchises. It also helps in leveraging economies of scale to offer loDominoâ€⠄¢sr cost to stores and allows the store managers to better focus on store operations and customer service by relieving them of the responsibility of mixing dough in the stores. BUSINESS STRATEGY OF DOMINO’S It intends to achieve further growth and strengthen the competitive position through the continued implementation of business strategy which includes the following elements:? Continue to execute the mission statement:- The mission statement of Domino’s is â€Å"exceptional franchises and team members on a mission to be the best pizza delivery company in the world†. It implements this by following a business strategy that:- †¢ puts franchises and company owned stores at the foundation of all the thinking and decisions; †¢ emphasizes the ability to select,develop and retain exceptional team embers and franchises; 7 †¢ provides a strong infrastructure to support the stores; †¢ builds excellent store operations to create loyal customers; ? Growing the leading position in an attractive industry :- U. S. pizza delivery and carry-out are the largest components of the U. S. QSR pizza category. They are also highly fragmented. Pizza delivery, through which a majority of retail sales are generated, had sales of $10. 9 billion in the twelve months ended November 2008. As the leader in U. S. izza delivery, domino’s believes that convenient store locations, simple operating model, widely-recognized brand and efficient supply chain system are competitive advantages that position it to capitalize on future growth. Carry-out had $13. 8 billion of sales in the twelve months ended November 2008. While the primary focus is on pizza delivery, domino’s is also favorably positioned as a leader in carry-out given the strong brand, convenient store locations and quality, affordable menu offerings. ? Leveraging the strong brand awareness :- Domino’s believes that he strength of the Domino’s Pizza ® brand makes us one of the first choices of consumers seeking a convenient, quality and affordable meal. Domino’s intend to continue to promote the brand name and enhance the reputation as the leader in pizza delivery. In 2007 Domino’s launched the campaign, â€Å"You Got 30 Minutesâ„ ¢,† which built on the Company’s 30-minute delivery heritage. In 2007 and 2008, each of the domestic stores contributed 4% of their retail sales to the advertising fund for national advertising in addition to contributions for market-level advertising. Additionally, for 2007 the domestic stores within active co-operatives elected to allocate an additional 1% of their advertising contributions to support national advertising initiatives. Domino’s intend to leverage the strong brand by continuing to introduce innovative, consumer-tested and profitable new product varieties (such as Domino’s Brooklyn Style Pizza and Domino’s Oven Baked Sandwiches), complementary side items (such as buffalo wings, cheesy bread, Domino’s Buffalo Chicken Kickers ® and Cinna Stix ®) and value promotions as through marketing affiliations with brands such as Coca- Cola ®. Additionally, Domino’s may from time-to-time partner with other organizations in an effort to promote the Domino’s Pizza ® brand. Domino’s believes these opportunities, when coupled with the scale and share leadership, will allow to grow the position in U. S. pizza delivery. ? Expand and optimize the domestic store base :- Domino’s plan to continue expanding the base of domestic stores to take advantage of 8 the attractive growth opportunities in U. S. pizza delivery. Domino’s believes that the scale allows to expand the store base with limited marketing, distribution and other incremental infrastructure costs. Additionally, the franchise-oriented business model allows to expand the store base with limited capital expenditures and working capital requirements. While Domino’s plan to expand the traditional domestic store base primarily through opening new franchise stores, Domino’s will also continually evaluate the mix of Company-owned and franchise stores and strategically acquire franchise stores and refranchise Company-owned stores. Continue to grow the International Business :- Domino’s believe that pizza has global appeal and that there is strong and growing international demand for delivered pizza. Domino’s have successfully built a broad international platform, almost exclusively through the master franchise model, as evidenced by the 3,726 international stores in more than 60 countries. Domino’s be lieves that Domino’s continue to have significant long-term growth opportunities in international markets where Domino’s have established a leading presence. In the current top ten international markets, Domino’s believe that the store base in total for these ten markets is approximately half of the total long-term potential store base in those markets. Generally, Domino’s believe Domino’s will achieve long-term growth internationally as a result of the favorable store-level economics of the business model, the growing international demand for delivered pizza and the strong global recognition of the Domino’s Pizza ® brand. The international stores have produced positive quarterly same store sales growth for 60 consecutive quarters. STORE OPERATIONS Domino’s believe that the focused and proven store model provides a significant competitive advantage relative to many of the competitors who focus on multiple components of the pizza category, particularly dine-in. Domino’s have been focused on pizza delivery for 48 years. Because the domestic stores and most of the international stores do not offer dine-in areas, they typically do not require expensive real estate, are relatively small and are relatively inexpensive to build and equip. The stores also benefit from lower maintenance costs, as store assets have long lives and updates 9 re not frequently required. The simple and efficient operational processes, which Domino’s have refined through continuous improvement, include:†¢ †¢ †¢ †¢ †¢ †¢ †¢ strategic store locations to facilitate delivery service; production-oriented store designs; product and process innovations; a focused menu; efficient order taking, production and del ivery; Domino’s PULSEâ„ ¢ point-of-sale system; and a comprehensive store audit program. Strategic store locations to facilitate delivery service Domino’s locate the stores strategically to facilitate timely delivery service to the customers. The majority of the domestic stores are located in populated areas in or adjacent to large or mid-size cities, or on or near college campuses. Domino’s use geographic information software, which incorporates variables such as traffic volumes, competitor locations, household demographics and visibility, to evaluate and identify potential store locations and new markets. Production-oriented store designs The typical store is relatively small, occupying approximately 1,000 to 1,300 square feet, and is designed with a focus on efficient and timely production of consistently high quality pizza for delivery. The store layout has been refined over time to provide an efficient flow from order taking to delivery. The stores are primarily production facilities and, accordingly, do not typically have a dine-in area. Product and process innovations The 48 years of experience and innovative culture have resulted in numerous new product and process developments that increase both quality and efficiency. These include the efficient, vertically-integrated supply chain system, a sturdier corrugated pizza box and a mesh screen that helps cook pizza crust more evenly. The Domino’s HeatWave ® hot bag, which was introduced in 1998, keeps the pizzas hot during delivery. Domino’s also continue to introduce new products such as Domino’s Oven Baked Sandwiches, which Domino’s launched in 2008. Additionally, Domino’s have added a number of complementary side items to the menu such as buffalo wings, Domino’s Buffalo Chicken Kickers ®, bread sticks, cheesy bread and Cinna Stix ®. Focused menu 10 Domino’s maintain a focused menu that is designed to present an attractive, quality offering to customers, while minimizing order errors, and expediting the order taking and food preparation processes. The basic menu has three choices for pizza products: pizza type, pizza size and pizza toppings. Most of the stores carry two or three sizes of Traditional Hand-Tossed, Ultimate Deep Dish, Brooklyn Style and Crunchy Thin Crust pizza. During 2008, Domino’s added the new Domino’s Oven Baked Sandwiches to the menu that are available in fthe main varieties. The typical store also offers buffalo wings, Domino’s Buffalo Chicken Kickers ®, bread sticks, cheesy bread, Cinna Stix ® and Coca-Cola ® soft drink products. Domino’s also occasionally offer other products on a promotional basis. Domino’s believe that the focused menu creates a strong identity among consumers, improves operating efficiency and maintains food quality and consistency. Efficient order taking, production and delivery Each store executes an operational process that includes order taking, pizza preparation, cooking (via automated, conveyor-driven ovens), boxing and delivery. The entire order taking and pizza production process is designed for completion in approximately 12-15 minutes. These operational processes are supplemented by an extensive employee training program designed to ensure world-class quality and customer service. It is the priority to ensure that every Domino’s store operates in an efficient, consistent manner while maintaining the high standards of food quality and team member safety. Domino’s PULSEâ„ ¢ point-of-sale system The computerized management information systems are designed to improve operating efficiencies, provide corporate management with timely access to financial and marketing data and reduce store and corporate administrative time and expense. Domino’s have installed Domino’s PULSEâ„ ¢, the proprietary point-of-sale system, in every Company-owned store in the United States and significantly all of the domestic franchise stores. Some enhanced features of Domino’s PULSEâ„ ¢ over the previous point-ofsale system include: †¢ touch screen ordering, which improves accuracy and facilitates more efficient order taking; †¢ a delivery driver routing system, which improves delivery efficiency; †¢ improved administrative and reporting capabilities, which enable store managers to better focus on store operations and customer satisfaction; and †¢ enhanced online ordering capability, including Pizza Tracker which was introduced in 2007. Domino’s require the domestic franchisees to install Domino’s PULSEâ„ ¢ and are in the process of installing Domino’s PULSEâ„ ¢ in the remaining domestic 11 franchise stores. Additionally, Domino’s have installed Domino’s PULSEâ„ ¢ in over 1,000 international franchise stores. Comprehensive store audit program Domino’s utilize a comprehensive store audit program to ensure that the stores are meeting both the stringent standards as the expectations of the customers. The audit program focuses primarily on the quality of the pizza the store is producing, the customer service the store is providing and the condition of the store as viewed by the customer. Domino’s believe that this store audit program is an integral part of the strategy to maintain high standards in the stores. SUPPLY CHAIN OF DOMINO’S Domino’s operates in three business segments: 12 Domestic stores:- The domestic stores segment consists of the domestic franchise operations, which oversee the network of 4,558 franchise stores located in the contiguous United States, and the domestic Company-owned store operations, which operate the network of 489 Company-owned stores located in the contiguous United States; †¢ Domestic supply chain:- The domestic supply chain segment operates 17 regional dough manufacturing and food supply chain centers, one supply chain center providing equipment and supplies to certain of the domestic and international stores and one veg etable processing supply chain center; and †¢ International:- The nternational segment oversees the network of 3,726 international franchise stores in more than 60 countries. The international segment also distributes food to a limited number of markets from six dough manufacturing and supply chain centers in Alaska, Hawaii and Canada (fthe). Domestic stores During 2008, the domestic stores segment accounted for $511. 6 million, or 36%, of the consolidated revenues. The domestic franchises are operated by entrepreneurs who own and operate an average of three to fthe stores. Only six of the domestic franchisees operate more than 50 stores, including the largest domestic franchisee, which operates 144 stores. The principal sources of revenues from domestic store operations are Company-owned store sales and royalty payments based on retail sales by the franchisees. The domestic network of Company-owned stores also plays an important strategic role in the predominantly franchised operating structure. In addition to generating revenues and earnings, Domino’s use the domestic Company-owned stores as test sites for new products and promotions as Overall as store operational improvements and as forums for training new store managers and prospective franchisees. Domino’s also believe that the domestic Company-owned stores add to the economies of scale available for advertising, marketing and other costs that are primarily borne by the franchisees. While Domino’s continue to be primarily a franchised business, Domino’s continually evaluate the mix of domestic Company-owned and franchise stores in an effort to optimize the profitability. The domestic Company-owned store operations are divided into eleven geographic areas located throughout the contiguous United States while the domestic franchise operations are divided into fthe regions. The team members within these areas provide direct supervision over the domestic Company-owned stores; provide training, store operational audits and marketing services; and provide financial analysis and store development services to the franchisees. Domino’s maintain a close relationship with the franchise stores through regional franchise teams, an array of computer-based training materials that help franchise stores comply 13 ith the standards and franchise advisory groups communications betDomino’sen us and the franchisees. Domestic supply chain that facilitate During 2008, the domestic supply chain segment accounted for $771. 1 million, or 54%, of the consolidated revenues. The domestic supply chain segment is comprised of dough manufacturing and supply chain cent ers that manufacture fresh dough on a daily basis and purchase, receive, store and deliver quality pizza-related food products and complementary side items to all of the Company-owned stores and over 99% of the domestic franchise stores. Each regional dough manufacturing and supply chain center serves approximately 300 stores, generally located within a one-day delivery radius. Domino’s regularly supply approximately 5,000 stores with various supplies and ingredients, of which, eight product groups account for over 90% of the volume. The domestic supply chain segment made approximately 575,000 full-service deliveries in 2008 or betDomino’sen two and three deliveries per store, per Domino’sek; and Domino’s produced over 273 million pounds of dough during 2008. Domino’s believe that the franchisees voluntarily choose to obtain food, supplies and equipment from us because Domino’s provide the most efficient, convenient and cost-effective alternative, while also providing both quality and consistency. In addition, the domestic supply chain segment offers a profitsharing arrangement to stores that purchase all of their food from the domestic dough manufacturing and supply chain centers. This profit-sharing arrangement generally provides domestic Company-owned stores and participating franchisees with 50% of their regional supply chain center’s pre-tax profits. Profits are shared with the franchisees based upon each franchisee’s purchases from the supply chain centers. Domino’s believe these arrangements strengthen the ties with these franchisees. The information systems used by the domestic dough manufacturing and supply chain centers are an integral part of the quality service Domino’s provide the stores. Domino’s use routing strategies and software to optimize the daily delivery schedules, which maximizes on-time deliveries. Through the strategic dough manufacturing and supply chain center locations and proven routing systems, Domino’s achieved delivery accuracy rates of approximately 99% during 2008. The supply chain center drivers unload food and supplies and stock store shelves typically during non-peak store hthes, which minimizes disruptions in store operations. International During 2008, the international segment accounted for $142. 4 million, or 10%, of the consolidated revenues. Domino’s have 592 franchise stores in Mexico, representing the largest presence of any QSR company in Mexico, 512 franchise stores in the United Kingdom, 412 franchise stores in Australia, 14 305 franchise stores in South Korea, 296 franchise stores in Canada, 227 franchise stores in India and over 100 franchise stores in each of Japan, France, Taiwan and Turkey. The principal sources of revenues from the international operations are royalty payments generated by retail sales from franchise stores and sales of food and supplies to franchisees in certain markets. Domino’s have grown by more than 1,200 international stores over the past five years. Domino’s empower the managers and franchisees to adapt the standard operating model, within certain parameters, to satisfy the local eating habits and consumer preferences of various regions outside the contiguous United States. Currently, most of the international stores are operated under master franchise agreements, and Domino’s plan to continue entering into master franchise agreements with qualified franchisees to expand the international operations in selected countries. Domino’s believe that the international franchise stores appeal to potential franchisees because of the Overall-recognized brand name, the limited capital expenditures required to open and operate the stores and the system’s favorable store economics. The following table shows the store count as of December 28, 2008 in the top ten international markets, which account for 78% of the international stores. Number of stores Mexico 592 United Kingdom 512 Australia 412 South Korea 305 Canada 296 India 227 Japan 181 France 140 Taiwan 120 Turkey 106 The franchise program As of December 28, 2008, the 4,558 domestic franchise stores Were owned and operated by the 1,216 domestic franchisees. The success of the franchise formula, which enables franchisees to benefit from the brand name with a relatively low initial capital investment, has attracted a large number of motivated entrepreneurs as franchisees. As of December 28, 2008, the average domestic franchisee operated approximately three to fthe stores and had been in the franchise system for tDomino’slve years. At the same time, only six of the domestic franchisees operated more than 50 stores, including the largest domestic franchisee, which operates 144 stores. Domestic franchises 15 Domino’s apply rigorous standards to prospective franchises. Domino’s generally require prospective domestic franchises to manage a store for at least one year before being granted a franchise. This enables us to observe the operational and financial performance of a potential franchisee prior to entering into a long-term contract. Domino’s also generally restrict the ability of domestic franchisees to become involved in other businesses, which focuses the franchisees’ attention on operating their stores. As a result, the vast majority of the franchisees come from within the Domino’s Pizza system. Domino’s believe these standards are unique to the franchise industry and result in qualified and focused franchisees operating their stores. Franchise agreements Domino’s enter into franchise agreements with domestic franchisees under which the franchisee is granted the right to operate a store in a particular location for a term of ten years, with options to renew for an additional term of ten years. Domino’s currently have a franchise contract renewal rate of over 99%. Under the current standard franchise agreement, Domino’s assign an exclusive area of primary responsibility to each franchise store. During the term of the franchise agreement, the franchisee is required to pay a 5. 5% royalty fee on sales, subject, in limited instances, to loDomino’sr rates based on area development agreements, sales initiatives and new store incentives. Domino’s have the contractual right, subject to state law, to terminate a franchise agreement for a variety of reasons, including, but not limited to, a franchisee’s failure to make required payments when due or failure to adhere to specified Company policies and standards. Franchise store development Domino’s provide domestic franchisees with assistance in selecting store sites and conforming the space to the physical specifications required for a Domino’s Pizza store. Each domestic franchisee selects the location and design for each store, subject to the approval, based on accessibility and visibility of the site and demographic factors, including population density and anticipated traffic levels. Domino’s provide design plans and sell fixtures and equipment to most of the franchise stores. Franchise training nd support Training store managers and employees is a critical component of the success. Domino’s require all domestic franchisees to complete initial and ongoing training programs provided by us. In addition, under the standard domestic franchise agreement, domestic franchisees are required to implement training programs for their store employees. Domino’s assist the 16 domestic and international franchisees by making training materials available to them for their use in training store managers and employees, including computer-based training materials, comprehensive operations manuals and franchise development classes. Domino’s also maintain communications with the franchisees online, through various newsletters and through face-to-face meetings. Franchise operations Domino’s enforce stringent standards over franchise operations to protect the Domino’s Pizza ® brand. All franchisees are required to operate their stores in compliance with written policies, standards and specifications, which include matters such as menu items, ingredients, materials, supplies, services, furnishings, decor and signs. Each franchisee has full discretion to determine the prices to be charged to customers. Domino’s also provide ongoing support to the franchisees, including training, marketing assistance and consultation to franchisees who experience financial or operational difficulties. Domino’s have established several advisory boards, through which franchisees contribute to developing systemwide initiatives. International franchises The vast majority of the markets outside of the contiguous United States are operated by master franchisees with franchise and distribution rights for entire regions or countries. In select regions or countries, Domino’s franchise directly to individual store operators. The master franchise agreements generally grant the franchisee exclusive rights to develop or sub-franchise stores and the right to operate supply chain centers in a particular geographic area for a term of ten to tDomino’snty years, with options to renew for additional terms. The agreements typically contain growth clauses requiring franchisees to open a minimum number of stores within a specified period. Prospective master franchisees are required to possess or have access to local market knowledge required to establish and develop Domino’s Pizza stores. The local market knowledge focuses on the ability to identify and access targeted real estate sites along with expertise in local customs, culture, consumer behavior and laws. Domino’s also seek candidates that have access to sufficient capital to meet their growth and development plans. The master franchisee is generally required to pay an initial, one-time franchise fee as Overall as an additional franchise fee upon the opening of each new store. In addition, the master franchisee is required to pay a continuing royalty fee as a percentage of retail sales, which varies among international markets. Marketing operations 17 The domestic stores generally contribute betDomino’sen 4% to 5% of their retail sales to fund national marketing and advertising campaigns. In addition to the required national advertising contributions, in those markets where Domino’s have co-operative advertising programs, the domestic stores also generally contribute to market-level media campaigns. These national and market-level funds are administered by Domino’s National Advertising Fund Inc. , or DNAF, the not-for-profit advertising subsidiary. The funds remitted to DNAF are used primarily to purchase television advertising, but also support market research, field communications, public relations, commercial production, talent payments and other activities supporting the Domino’s Pizza ® brand. DNAF also provides cost-effective print materials to the domestic stores for use in local marketing that reinforce the national branding strategy. In addition to the national and market-level advertising contributions, domestic stores spend additional amounts on local store marketing, including targeted database mailings, saturation print mailings and community involvement through school and civic organizations. Additionally, Domino’s may from time-to-time partner with other organizations in an effort to promote the Domino’s Pizza ® brand. By communicating a common brand message at the national, local market and store levels, Domino’s create and reinforce a poDomino’srful, consistent marketing message to consumers. This is evidenced by the successful previous marketing campaign with the slogan â€Å"Get the Door. It’s Domino’s.  ®Ã¢â‚¬  and the current marketing campaign with the slogan â€Å"You Got 30 Minutes. â„ ¢Ã¢â‚¬  Over the past five years, Domino’s estimate that domestic stores have invested approximately $1. 4 billion on national, local and co-operative advertising. Internationally, marketing efforts are primarily the responsibility of the franchisee in each local market. Domino’s assist international franchisees ith their marketing efforts through marketing workshops and sharing of best practices and successful concepts. Third-party suppliers Domino’s have maintained active relationships of 15 years or more with more than half of the major suppliers. The suppliers are required to meet strict quality standards to ensure food safety. Domino’s review and evaluate the suppliers’ quality assurance programs through, among other acti ons, onsite visits, third party audits and product evaluations to ensure compliance with the standards. Domino’s believe that the length and quality of the relationships with suppliers provides us with priority service and quality products at competitive prices. Domino’s believe that two factors have been critical to maintaining longlasting relationships and keeping the purchasing costs low. First, Domino’s are one of the largest domestic volume purchasers of pizza-related products such as flthe, cheese, sauce and pizza boxes, which allows us to maximize leverage with the suppliers when items are put out for bid on a scheduled 18 asis. Second, Domino’s use a combination of single-source and multi-source procurement strategies. Each supply category is evaluated along a number of criteria including value of purchasing leverage, consistency of quality and reliability of supply to determine the appropriate number of suppliers. Domino’s currently purchase the pizza cheese from a single supplier. In 2007, the Company entered into a new arrangement with this supplier. Under this arrangement, the supplier agreed to provide an uninterrupted supply of cheese and the Company agreed to a five year pricing period during which it agreed to purchase all of its primary pizza cheese for the Company’s United States stores from this supplier or, alternatively, pay to the supplier an amount reflecting any benefit previously received by the Company under the new pricing terms. The pricing schedule is directly correlated to the CME block cheddar price. The majority of the meat toppings come from a single supplier under a contract that began in July 2008 and expires in July 2010. The Crunchy Thin Crust dough is currently sourced by another single supplier pursuant to requirements contracts that expire in 2009. Domino’s have the right to terminate these arrangements for quality failures and for uncured breaches. Domino’s believe that alternative suppliers for all of these ingredients are available, and all of the pizza boxes, sauces and other ingredients are sourced from various suppliers. While Domino’s may incur additional costs if Domino’s are required to replace any of the suppliers, Domino’s do not believe that such additional costs would have a material adverse effect on the business. Domino’s also entered into a multi-year agreement with Coca-Cola effective January 1, 2003 for the contiguous United States. The contract provides for Coca-Cola to be the exclusive beverage supplier and expires on the later of December 31, 2009 or such time as a minimum number of cases of Coca-Cola ® products are purchased by us. Domino’s continually evaluate each supply category to determine the optimal sourcing strategy. It has not experienced any significant shortages of supplies or any delays in receiving our food or beverage inventories, restaurant supplies or products. The current economic environment has created additional financial pressures for some of the suppliers; however it does not currently anticipate disruptions in our supplies. Prices charged by suppliers are subject to fluctuation, and domino’s has historically been able to pass increased costs and savings on to stores. It may periodically enter into financial instruments to manage the risk from changes in commodity prices. Domino’s does not engage in speculative transactions nor does it holds or issue financial instruments for trading purposes. 19

Assess the Strengths and Weaknesses of the Functionalist Approach to Society Essay Essay Example

Assess the Strengths and Weaknesses of the Functionalist Approach to Society Essay Essay Example Assess the Strengths and Weaknesses of the Functionalist Approach to Society Essay Paper Assess the Strengths and Weaknesses of the Functionalist Approach to Society Essay Paper Functionalism is seen as a macro-scale attack to society ; it sees society as a whole instead than looking at parts of it. Due to this. functionalism sees society as a organic structure ( organic analogy ) . all the establishments work together to do society. This is peculiarly utile when detecting society in order to understand the manner in which it maps and the manner in which all the establishments ( organic analogy: variety meats within the organic structure ) work together to prolong society as a whole. Functionalism being a macro-scale attack is hence seen as a strength as it allows functionalist sociologists to detect society. and its establishments. as a whole. Functionalism is besides seen as a consensus theory. it sees society as just and merely. and it acknowledges that many societies. including the bulk of western 1s. have democracy and all persons within a peculiar society portion the same or similar norms and values. This could hence be seen as a strength as it acknowledges that democracy does be in many societies. However. as functionalism is a macro-scale attack and sees society as a whole. it could lose important factors/ groups which contribute to the operation of society ; these include little groups and folks. such as itinerants. Not admiting these minority groups within society could take to functionalist sociologists missing important information about how society maps and how minority groups live within a big society. This could hence be seen as a failing of functionalism as it fails to admit that there are minority groups within society. Besides. as functionalism is a consensus theory where all persons within a peculiar society portion the same or similar norms and values and sees society as being just and merely ; nevertheless. it fails to admit that there are inequalities within society. these inequalities could be present sums societal category. gender or ethnicity. However. other attacks. such as Marxism and Feminism acknowledge that there are inequalities within society which raises the inquiry as to whether functionalism is the most appropriate attack to utilize when analyzing society. This is hence seen as a failing of functionalism as society does hold many inequalities which functionalism fails to admit. Talcott Parsons. a functionalist sociologist who elaborated on Durkheim’s work about society and its maps. claimed that society is like an being. in peculiar. the human organic structure. He argued that all establishments. such as the household and the instruction system. within society map together to keep society merely as the variety meats within a human organic structure work together to keep life. In peculiar. Parsons identified three similarities between the human organic structure and society ; he claimed that they were both systems within themselves – all the parts of a organic structure and the establishments within society fit together in fixed ways. He besides identified that these ‘systems’ have demands – the human organic structure needs nutrition to assist it prolong life. whereas society demands equal socialization in order for society to go on working in the manner that it does. Parsons besides stated that both the human organic structure and society have maps – the maps of the systems within the human organic structure guarantee that the body’s demands are fitting therefore keeping life ; whereas. in society. the economic system maps to keep the societal system. As parsons’ analogy helps sociologists to better understand the manner in which establishments in society work together to keep a ‘healthy’ society. it can be seen as a strength of functionalism as it helps to construction sociologists’ perceptual experiences about how society maps. Parsons besides identified four demands of society and how they are met. He claimed that society needs version. this is where the stuff demands of society are met ; for illustration. persons within society work in order to derive their rewards which in bend provides for their stuff demands. He besides argued that society demands end attainment – society demands to put ends and accomplish them ; this demand is met via the political – political leaders set ends for society to accomplish and these ends help to better society. Integration is another demand which Parsons identified. this is where coherence between the different establishments. such as the household and instruction system. is promoted ; this is done to avoid pandemonium and struggle. Latency is besides needed by society. this refers to the manner in which persons cope with jobs in society – they may turn to religion to cut down the strain which has been put on them by society. These demands which Parsons identified can be seen as a strength of society as they help sociologists to understand what society needs in order to work adequately. However. functionalist sociologist. Merton disagreed with the demands which Parsons identified. Merton claims that Parsons ignored the fact that there are establishments within society that can be dysfunctional. for illustration. faith can organize coherence but can besides do divisions within society. Harmonizing to Merton. Parsons failed to admit this. Merton besides argues that Parsons fails to distinguish between intended ( manifest ) and unintended ( latent ) maps within society and hence. Parsons’ thought about the demands and maps of society are really simplistic. Merton besides criticises Parsons’ thought about indispensableness. he assumes that everything is necessary in the manner that it is ; for illustration. kids can merely be socialised adequately in a two parent. atomic household. nevertheless. Merton rejects this claim as he argues that equal socialization can happen even within a individual parent household. Due to Merton’s statements. some facets of functionalism. such as the demands and maps of society. are seen as a failing of society. There are besides other unfavorable judgments of functionalism ; it’s argued that functionalism explains the effects before the causes. For illustration. functionalism claims that kids need to socialised ( this is the consequence ) and hence the household exists ( this is the cause ) . Due to this. may sociologists argue that the functionalism attack is non one which can be used to explicate society decently. Besides. Marxist sociologists argue that functionalism has failed to explicate struggle and alteration within society ; the attack claims that society is harmonious and built on consensus. However. Marxist and Feminist sociologists argue that development and inequality do be in many signifiers. such as societal category and gender inequality ; nevertheless. functionalism has failed to admit this and is hence considered to be an attack which has traditional political orientation which is outdated. This therefore shows defects to the functionalist attack and hence points out the failings within the functionalist attack. Overall. in decision. the functionalist attack has many strengths and failings about the manner in which society maps and the demands it requires. It strengths are seen in the manner in which it explains the basic demands and map of society. these accounts can be used by other sociologists to better and keep an equal society. However. other attacks. such as Marxism and Feminism have criticised functionalism due to its deficiency of recognition of development and inequality which occurs within society. However. overall. it is a balanced statement.

Amniocentesis Process Essay Example

Amniocentesis Process Essay Example Amniocentesis Process Paper Amniocentesis Process Paper Amniocentesis is a procedure in medicine that involves the extraction of amniotic fluid which is found around the uterus fetus when a woman is pregnant. This fluid can be found around the uterine wall. Generally, amniocentesis is used to identify disorders caused by genetics, chromosomal defects and other disease and problems associated with pregnancy. Apart from this, this procedure is used to determine how developed the unborn child’s lungs are and this is done in third trimester of the pregnancy. This procedure is usually carried out between the 15th and 20th week into the pregnancies of people who are liable to genetic disorders and in women who are close to their menopause. There are some people who have prior history of genetic problems. When pregnant, the baby stands the risk of suffering genetic defect and so this must be carried out to ascertain. Although amniocentesis has its advantages, there is the risk that after this procedure is carried out, there would be a miscarriage. Amniocentesis helps to identify several pregnancy disorders. This could be through the process or use of an ultrasound to guide a hollow-shaped needle into the amniotic sac. This ultrasound could be useful at diagnosing open neural tube defects such as spina bifida and anencephaly which affect several babies in America today. In America, statistics have proven that about 4,000 babies suffer from this defect. Apart from this, there are other pregnancy related disorders that amniocentesis aims to detect. A good is example is the Bilirubin Alpha fetoprotein. Alpha fetoprotein is measured in pregnant women with the use of amniotic fluid or their menstrual blood. This is done in order to identify hepatocellular carcinoma and endodermal sinus tumors. Summarily, amniocentesis has proved beneficial to doctors in the field of gynecology and obstetrics. This is because it helps them to know the disorders that occur during pregnancy. Although it has its side effects, when it is carried out properly and at the right time, it is a medical procedure that saves the life of the mother and makes us prepared for latter eventualities.

Thomas Edisons Greatest Inventions

Thomas Edisons Greatest Inventions The legendary inventor Thomas Edison was the father of landmark inventions, including  the phonograph, the modern light bulb, the electrical grid, and motion pictures. Heres a look at a few of his greatest hits.   The Phonograph   Bettmann  / Contributor  / Getty Images   Thomas Edison’s first great invention was the tin foil phonograph. While working to improve the efficiency of a telegraph transmitter, he noticed that the tape of the machine gave off a noise that resembled spoken words when played at a high speed. This led him to wonder if he could record a telephone message.   He began experimenting with the diaphragm of a telephone receiver by attaching a needle to it based on the reasoning that the needle could prick paper tape to record a message. His experiments led him to try a stylus on a tinfoil cylinder, which, to his great surprise, played back the short message he recorded, Mary had a little lamb. The word phonograph was the trade name for Edisons device, which played cylinders rather than discs. The machine had two needles: one for recording and one for playback. When you spoke into the mouthpiece, the sound vibrations of your voice would be indented onto the cylinder by the recording needle. The cylinder phonograph, the first machine that could record and reproduce sound, created a sensation and brought Edison international fame. The date given for Edisons completion of the model for the first phonograph was August 12, 1877. It is more likely, however, that work on the model was not finished until November or December of that year since he did not file for the patent until December 24, 1877. He toured the country with the tin foil phonograph and was invited to the White House to demonstrate the device to President Rutherford B. Hayes in April 1878. In 1878, Thomas Edison established the Edison Speaking Phonograph Company to sell the new machine. He suggested other uses for the phonograph, such as letter writing and dictation, phonographic books for blind people, a family record (recording family members in their own voices), music boxes and toys, clocks that announce the time and a connection with the telephone so communications could be recorded. The phonograph also led to other spin-off inventions. For example, while the Edison Company had been fully devoted to the cylinder phonograph, Edison associates began developing their own disc player and discs in secret due to concern over the rising popularity of discs. And in 1913, the Kinetophone was introduced, which attempted to synchronize motion pictures with the sound of a phonograph cylinder record. A Practical Light Bulb   Thomas Edisons greatest challenge was the development of a practical incandescent, electric light. Bettmann  / Contributor  / Getty Images Contrary to popular belief, he didnt invent the lightbulb, but rather he improved upon a 50-year-old idea. In 1879, using lower current electricity, a small carbonized filament and an improved vacuum inside the globe, he was able to produce a reliable, long-lasting source of light.   The idea of electric lighting was not new. A number of people had worked on and even developed forms of electric lighting. But up to that time, nothing had been developed that was remotely practical for home use. Edisons achievement was inventing not just an incandescent electric light, but also an electric lighting system that contained all the elements necessary to make the incandescent light practical, safe, and economical. He accomplished this when he was able to come up with an incandescent lamp with a filament of carbonized sewing thread that burned for thirteen and a half hours. There are a couple of other interesting things about the invention of the light bulb. While most of the attention has been given to the discovery of the ideal filament that made it work, the invention of seven other system elements were just as critical to the practical application of electric lights as an alternative to the gas lights that were prevalent in that day. These elements included: The parallel circuitA durable light bulbAn improved dynamoThe underground conductor networkThe devices for maintaining constant voltageSafety fuses and insulating materialsLight sockets with on-off switches And before Edison could make his millions, every one of these elements had to be tested through careful trial and error and developed further into practical, reproducible components. The first public demonstration of the Thomas Edisons incandescent lighting system was at the Menlo Park laboratory complex in December of 1879.   Industrialized Electrical Systems On September 4, 1882, the first commercial power station, located on Pearl Street in lower Manhattan, went into operation, providing light and electricity power to customers in a one square mile area. This marked the beginning of the electric age as the modern electric utility industry has since evolved from the early gas and electric carbon-arc commercial and street lighting systems. Thomas Edisons Pearl Street electricity-generating station introduced four key elements of a modern electric utility system. It featured reliable central generation, efficient distribution, a successful end use (in 1882, the light bulb) and a competitive price. A model of efficiency for its time, Pearl Street used one-third the fuel of its predecessors, burning about 10 pounds of coal per kilowatt hour, a heat rate equivalent of about 138,000 Btu per kilowatt hour.   Initially, the Pearl Street utility served 59 customers for about 24 cents per kilowatt hour. In the late 1880s, power demand for electric motors dramatically altered the industry. It went from mainly providing nighttime lighting to becoming a 24-hour service due to high electricity demand for transportation and industry needs. By the end of the 1880s, small central stations dotted many U.S. cities, though each was limited in size to a few blocks because of direct current’s transmission inefficiencies. Eventually, the success of his electric light brought Thomas Edison to new heights of fame and wealth as electricity spread around the world. His various electric companies continued to grow until they were brought together to form Edison General Electric in 1889.   Despite the use of his name in the company title, Edison never controlled this company. The tremendous amount of capital needed to develop the incandescent lighting industry would necessitate the involvement of investment bankers such as J.P. Morgan. And when Edison General Electric merged with leading competitor Thompson-Houston in 1892, Edison was dropped from the name and the company became, simply, General Electric. Motion Pictures Bettmann  / Contributor  / Getty Images   Thomas Edisons interest in motion pictures began before 1888, but it was English photographer Eadweard Muybridge’s visit to his laboratory in West Orange in February of that year that inspired him to invent a camera for motion pictures.   Muybridge had proposed that they collaborate and combine the Zoopraxiscope with the Edison phonograph. Edison was intrigued but decided not to participate in such a partnership because he felt that the Zoopraxiscope was not a very practical or efficient method  of recording motion.   However, he liked the concept and filed a caveat with the Patents Office on October 17, 1888, that described his ideas for a device that would do for the eye what the phonograph does for the ear- record and reproduce objects in motion. The device, called a Kinetoscope, was combination of the Greek words kineto meaning movement and scopos meaning to watch.† Edison’s team finished development on the Kinetoscope in 1891. One of Edisons first motion pictures (and the first motion picture ever copyrighted) showed his employee Fred Ott pretending to sneeze. The major problem at the time, though, was that good film for motion pictures was not available.   That all changed in 1893 when Eastman Kodak began supplying motion picture film stock, making it possible for Edison to step up the production of new motion pictures. To do this, he built a motion picture production studio in New Jersey that had a roof that could be opened to let in daylight. The entire building was constructed so that it could be moved to stay in line with the sun. C. Francis Jenkins and Thomas Armat invented a film projector called the Vitascope and asked Edison to supply the films and manufacture the projector under his name. Eventually, the Edison Company developed its own projector, known as the Projectoscope, and stopped marketing the Vitascope. The first motion pictures shown in a movie theater in America were presented to audiences on April 23, 1896, in New York City.

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Introduction to operations and supply chain MANAGEMENT - Case Study Example As such, the type of forecast is demand and it is at market level since the numbers of sales seem to be increasing in the market in which the firm operates. This model has been chosen because it uses a series of demand observations over a period of time in a chronological order in order to develop forecasts. Therefore, the Last Period Model has been selected because it is assumed that the demand of each of the three drivers is constantly increasing with time. This model assumes that the level of demand for the current period is used as a forecast for the next period. For each period, it can be seen that the current demand of each driver seems to be increasing as illustrated in the table of data given. As such, this is a suitable model that can be used to forecast demand of the drivers offered by Top Slice Company. 2. According to the Last Period Model, Top Slice Company should have the expanded work cell up and running by the end of June 2012 as presented in the table given. For each month, it can be seen that the total number of the three drivers is increasing by an average of about 25. For instance, in January 2012, the number of drivers manufactured was 2559 and in February of the same year they increased to 2584 showing an increase of 25 drivers. In March 2012, a total of 2609 drivers were manufactured again showing an average increase of 25 drivers from the previous month. Therefore, the end of June is the ideal period to have the work cell up and running. As noted, the current work cell is capable of producing only 2700 drivers a month. Given the monthly average increase in the number of drivers manufactured, it can be seen that by the end of June, about 2675 drivers would be manufactured and by July, the maximum capacity of 2700 would be reached. Therefore, it is wise for Jacob to init iate the expansion of the work cell earlier in order to avoid inconveniences when the current work

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Comparing and contrasting the Epic of Gilgamesh and Genesis 1-11 (Religious Studies) - Essay Example Many people are telling that the flood in Gilgamesh is the same with the flood in Genesis. Definitely, it is not. The God in Genesis is not the same as the Mesopotamian deities. Understanding this fact give us a clear view point of a concrete difference between both accounts. Considering that there might be some similarities in the flow of the story however, the mere authority whom both accounts recognize builds a definite margin line that establishes their differences. Many people most especially those who devote themselves in religious and historical literature know the famous story about the great flood that can be found both in the Book of Genesis and of the Mesopotamian Gilgamesh. The stories are very much the same, however making a close comparison about details showed that they are very different. The God in Genesis is also more reasonable than that of the Mesopotamian gods. Understanding what has been the reason for flood will give us the clear idea of the differences of the character of the God in Genesis and of the Mesopotamian gods. The biblical account showed that God has seen how people have turned wicked. It has never been the will of the God of the Bible that man will stay wicked and will be unpunished. Because of that he decided to save Noah and his family from those evil people and the way by which it could be done is through the flood. The mere reason for that flood is to end the wicked generation that God of the Bible has seen existing during the time of Noah. On the contrary, the main reason why the gods in Gilgamesh caused the flood is because of the noise that the people create. The gods decided for a flood simply because they can not sleep (Gilgamesh 12). The unanimous decision of gods is to cause a flood and to make no any man survived. Ea who created man does not want it to happen. Meaning, we could even see misunderstanding in their mythical gods that mostly resembles human character. But through a dream, the

Business Environment and Strategic Management of Primark Essay - 2

Business Environment and Strategic Management of Primark - Essay Example From this study it is clear that Primark’s product categories include the ladies wear, children’s wear, men’s wear, lingerie, cosmetics, fashion accessories, and the home products. Primarily Primark’s merchandise is made especially for its own brands, but it also stocks other products from other recognised (well known) brands like the Disney, Haribo sweets, Warner Brothers, and Nivea. According to the paper the company’s apparel products lines typically showcase simple designs and fabrics in the popular sizes. Primark usually launches its stores in the high street locations and most of its products lines are usually stocked in bulk at every location. Its main competitors are BHS, Marks and Spencer, John Lewis, George at ASDA, Debenhams, and TK Max. Recognised globally for its quality in apparels and clothing at the budget prices, the company provides clothing for all sizes, ages, and sexes with different department for the household goods. Its succe ss is largely attributed to a highly organised business structures that provides its customers with what they need at within a reasonable prices. Primark’s cost leadership means that the company’s market research team are usually on the pulse of the fashion changes by providing products that are similar to its rival companies quickly. The majority of the company’s sources of supply is in the overseas countries such as China, India, Bangladesh, Philippines and Turkey. The company has developed the computerised customs clearance, the dedicated.

Comparing and contrasting the Epic of Gilgamesh and Genesis 1-11 Essay

Comparing and contrasting the Epic of Gilgamesh and Genesis 1-11 (Religious Studies) - Essay Example Many people are telling that the flood in Gilgamesh is the same with the flood in Genesis. Definitely, it is not. The God in Genesis is not the same as the Mesopotamian deities. Understanding this fact give us a clear view point of a concrete difference between both accounts. Considering that there might be some similarities in the flow of the story however, the mere authority whom both accounts recognize builds a definite margin line that establishes their differences. Many people most especially those who devote themselves in religious and historical literature know the famous story about the great flood that can be found both in the Book of Genesis and of the Mesopotamian Gilgamesh. The stories are very much the same, however making a close comparison about details showed that they are very different. The God in Genesis is also more reasonable than that of the Mesopotamian gods. Understanding what has been the reason for flood will give us the clear idea of the differences of the character of the God in Genesis and of the Mesopotamian gods. The biblical account showed that God has seen how people have turned wicked. It has never been the will of the God of the Bible that man will stay wicked and will be unpunished. Because of that he decided to save Noah and his family from those evil people and the way by which it could be done is through the flood. The mere reason for that flood is to end the wicked generation that God of the Bible has seen existing during the time of Noah. On the contrary, the main reason why the gods in Gilgamesh caused the flood is because of the noise that the people create. The gods decided for a flood simply because they can not sleep (Gilgamesh 12). The unanimous decision of gods is to cause a flood and to make no any man survived. Ea who created man does not want it to happen. Meaning, we could even see misunderstanding in their mythical gods that mostly resembles human character. But through a dream, the

The Past and Present of Ethical Cultures Essay Example | Topics and Well Written Essays - 1000 words

The Past and Present of Ethical Cultures - Essay Example Therefore, Martin Luther King finds a reason to break laws as long as he believes the laws are unjust according to what his conscience tells him. As such, he was willing to break laws as long as he felt that the laws were unjust to his morality and ethical standing, and by breaking such laws, he felt that that was the highest level of respect for the law altogether (Redner 2001, 191). Therefore, as much as Martin Luther King was expected to respect the laws of the land, he also found it his moral duty to seek justice by breaking an unjust law, thereby finding a reason to be willing to break the law. Martin Luther King’s arguments for being willing to break the law calls for the willing individual to be ready to willingly take up the corresponding penalty and carry it to its maturity. This means that breaking a law does not just end there, but incorporates the ability to be able to be responsible for your actions to the level of going through the penal system should the need arise (Shah 2007, p. 21). Consequently, this highlights the full depth of what willingness to break the law entails. J.A. Boss speculated that no one could rightfully accuse David Duke of being insincere since there were technically no laws that could be used in support of such an accusation. This was at a time when discriminatory laws were the order of the day and most instances of injustice, particularly racial, went unchecked. In such a scenario, it was increasingly difficult to counter such instances, as it would basically necessitate the changing of the constitution and a variety of laws to support a counter accusation. In addition, it would require drumming up the support of a significant number of individuals, and this was just not an easy feat to pull through.  

Methods for communicating business information Essay Example for Free

Methods for communicating business information Essay In order to communicate business information a business will use a range of electronic and non electronic methods for the right audience. The way informational will presented will depend upon on a number of factors such as: * Age and attention span * Readability * Interest The audience may have a range of people of different ages. Those who are younger will only be able to concentrate for shorter length of time, while older people and those are who are highly educated will be able to listen to a presentation or other forms of communications such as reports. Younger people will respond well to visual stimuli such as power points rather than verbal presentations. Different types will respond differently to different forms of communications. Businesses will range from the age and the amount of education a person has. For example in an industrial business or supermarket will have a wide range of people. Those who work on the shop floor in a supermarket will have a range of people of ages and the education they have. Some may have basic GCSE level or none at all or may be studying at a degree level. The type of communication that is given to this type of audience will vary. The non electronic methods for communicating business information are: * Letter * Memorandum * Report * Invoice A letter is a form of written communication. Letters are considered to be the easiest form of communication simply because they are simple and quick to produce but also because they provide a written record of correspondence that can be useful in the event of a dispute. Another form a non electric method for communicating business information is a memorandum. This is an internal form of communication for the business and serves the purposes of transferring short messages between members of staff. A report is used as a formal reply to a task that has been set. It is a common form of communication in the business industry and amongst many other forms of organisations. An invoice is a document that is produced by the business. It informs customers that they have bought on credit. The sales department has the responsibility to produce such documents. An invoice will have the details of the Products bought by the customers, the date, details of payments that are required and the date of when the payment is required. Such documents are kept for six years as they later may be used as evidence of a contract if any legal action should be taken. The electronic forms of communications that are used in a business are: * Screen based communication * Email * SMS * Computers and the internet * Telephone * Video conferencing Screen based communications are now becoming more common in businesses. Most forms of communications in the technology world use screens to show information. For example tills have screens to show customers and the cashier the amount that has to be paid and the goods been bought. Screen based communications have become increasingly common and are now used for a range of purposes such as cash machines, railway and airports. Email has become another popular source of communication. The advantages of emailing are: * The costs are extremely low * It is quick and easy * The information can be instantly viewed * A written copy of the message is given to both parties useful for reference * Easy to store Emails are seen as an informal source of writing where abbreviated words are used. For this reason business emails are written in a less formal way and a friendly tone. Business messages are now being sent and received through text messages (SMS) which is available between mobile phones. This method of communication can be replaced for memos and emails to send messages to employees. Text messages benefits those employees such as sales people who travel frequently as part of their job to be kept up to date with important developments. It also used as a form of advertising the business. Customers can be attracted to the business by the carious text messages they receive by the business on the products or services. The web is one of the biggest changes that have been made in the business world. Due to the internet becoming increasingly popular, businesses have taken this to this advantage. The internet has shown to increase sales and strengthen relationships with existing and potential customers. The internet has helped widen the target market for many businesses. Businesses such as Sony are able to promote and reach to customers globally through the internet as trading resolves the issue of time differences for customers living different parts of the world. The progress of this has allowed businesses such as Sony gain sales and a profit boost. It also benefits the business as it allows the businesses to change products and pricing if circumstances change. This is a cost effective way of change as products being in stored would have to go through the process of reprinting advertising materials. Another reason why the internet has become cost effective is because it has allowed customers to access information on products that would otherwise have to be accessed through broachers, catalogues or leaflets. Telephone calls fast form of communication. This method of communication is effective as it allows instant discussion on a matter and response. Most businesses have a conference via telephone so that a number of people can be involved in a conversation and discuss business matters. Video conferencing is where a business will have a meeting through computer screens. Businesses may want to communicate with people in different locations. Video conferencing makes it easier for businesses to hold meetings within their premises without having to travel.