Annotated Bibliography On Human Trafficking - 1278 Words

Prospectus on Human Trafficking in the United States For my research paper, I will be explaining the issue of human trafficking in the United States and propose a course of action we can take to help combat the growth of this problem. Article 3, paragraph (a) of the United Nation s Protocol to Prevent, Suppress and Punish Trafficking in Persons essentially defines trafficking as the harboring or transportation of a person through any means, including force, threats, fraud, and coercion (42). The Trafficked Victims Protection Act is our nation s protocol on dealing with cases of human trafficking. Although it is a good place to start, the TVPA is in need of development because many victims are treated unfairly, criminalized, and†¦show more content†¦This source will help me clarify the immensity of the issue and the need for immediate change. I will also include the true story of two women s experiences being trafficked from the article Understanding Human Trafficking in the United States by T.K. Logan, Robert Walker, and Gretchen Hunt. The two women were brought to America on false promises of good work and fair pay as domestic workers in a home. However, their documents were confiscated upon arrival and the women were heavily abused and taken advantage of for five years in this home. Including this account in my essay will provide readers with a real example of the horrible reality of human trafficking. In the second section of my essay, I will propose mandatory training of law enforcement officials in order to identify victims and ensure that they are not labeled as criminals. I will also emphasize the importance of increasing awareness about the issue of human trafficking among the general public to help rescue victims and prevent trafficking situations. I will explain how victims come into contact with people other than their traffickers but are often unable to directly ask for help. Frequently, women trapped in trafficking have a crippli ng fear of their trafficker and would not dare to brave the unknown of calling for help, even ifShow MoreRelatedHuman Trafficking Annotated Bibliography Essay866 Words   |  4 PagesHuman trafficking An annotated bibliography Web Links Anti-Slavery International http://www.antislavery.org/ Anti-Slavery Internationals Trafficking Programme comprises three elements: campaigning to end human trafficking, lobbying for victim protection, and research on measures governments take to protect victims of trafficking, especially those who act as witnesses. The web site provides information about both current and historical slavery operations. The UN Global Programme Against TraffickingRead MoreAnnotated Bibliography On Domestic Minor Sex Trafficking859 Words   |  4 PagesAnnotated Bibliography: Domestic Minor Sex Trafficking Clark County Washington. â€Å"Domestic Minor Sex Trafficking (DMST) Commercially Sexually Exploited Children.† Clark County Washington. Juvenile Court. 2016. Web. 17 Feb. 2016. This website is bringing awareness to domestic minor sex trafficking in Washington. They have identified that domestic minor sex trafficking is serious problem in their community. They have developed a year long training program to help equip their community so that theyRead Morehuman trafficking persuasive speech1002 Words   |  5 Pages 13 October 2013 Human Trafficking and Modern Day Slavery: An Annotated Bibliography Batstone, David B,. Not for Sale: The Return of the Global Slave Trade-- and How We Can Fight It. New York: HarperSanFrancisco, 2010. Print. David Batstone is a professor of business and social responsibility at the University of San Francisco. He is also an author and journalist, writing regularly for newspapers such as the New York Times, the Chicago Tribune, and USA Today, and the magazines Wired and SpinRead MoreHuman Trafficking Essay1378 Words   |  6 PagesAnnotated Bibliography including five citations in APA documentation format, each with a brief summary paragraph: in your own words, write a two-three sentence summary the source’s main point and identifying key expert views or evidence which will help support specific points in your outline. Human Trafficking in the United States of America I.Introduction I’ve chosen to cover this topic because now more than ever news specials are being broadcast and even though each story as similar as the nextRead MoreAnalysis Of The Article On Views Of Race And Inequality, Blacks And Whites Are Worlds Apart2021 Words   |  9 Pagesfeel this is a fact that should be obvious to everyone, perhaps it is difficult for some to understand things that they do not experience in their everyday lives. 2. How did the annotated bibliography articles discussed in class make you aware of the â€Å"isms† that prevail in our society today? The annotated bibliographies made me aware of how many different cases of â€Å"isms† happen every day. Over the semester we read/ talked about several articles about racism, sexism, discrimination, etc. that weRead More Legalize Prostitution Essay2912 Words   |  12 Pagesprostitution. The following questions should be addressed. Would legalization reduce some of the inequalities and abuse suffered by the women involved? On the other hand, by legitimizing prostitution, would society reverse decades of work to promote human rights and improve the status of women? On the surface, this looks like a rehashing of a timeless debate. However, it is not. The question is no longer about morality -- is prostitution a vice and are those involved evil or somehow lacking in judgementRead MorePoverty2826 Words   |  12 Pagescreative life and to enjoy a decent standard of living, freedom, dignity, self-esteem and the respect of others† (United Nations- Global Teaching and Learni ng Project, 2014, 1). Poverty makes other major problems worse including slave labour, human trafficking and the spread of diseases. However, the root cause of these global issues is the relationship between poverty and the lack of education. The big question is whether increased education will reduce poverty or, is a lack of education a result

Shareholder Value and the Financial Crisis - 2682 Words

To what extent can the economic and financial crisis starting in 2007-8 be attributed to the flaws of the shareholder value principle of corporate governance? Intro Corporate governance is a critical concept in the commercial world of today with the idea originating initially from the U.S. The importance of corporate governance is made more considerable due to the increasing influence and consequences companies have on the daily lives of individuals and making up a large proportion of economic activity. Corporate governance can be shortly described as the whole framework within which companies operate. It is most likely the case that the shareholder value principle was not the only part of corporate governance which contributed to the†¦show more content†¦So instead of managers of top corporations constantly looking to internally and externally expand they would now put more importance into decreasing the size of the company and the total number of those they employ, this in turn would result in a higher dividend to be shared among shareholders as there is one or more less wage to pay. This process started occurring in 1980 when most c orporations in the U.S had adopted this new model, a consequence of this was the vast amount of jobs which had previously offered stable employment and decent pay to the economy which were now gone due to the reorganisation of the labour structures of these corporations which led to them cutting out many positions. The result for the economy may have been poor however for the corporations, after downsizing they could refocus the extra revenue towards improving the company s stock market performance. It should be noted that the model of retain and reinvest was beneficial to multiple stakeholders, it allowed workers to gradually be paid higher wages as the company grew and solidified job security, suppliers and distributors would also gain resulting in a higher number of orders and overall lower costs charged to the company which means that consumers in the relevant market could also benefit fromShow MoreRelatedShareholder Value and Current Financial Crisis: An Analysis of the Relatio nship4354 Words   |  18 PagesShareholder Value and Current Financial Crisis: An analysis of the Relationship INTRODUCTION Corporate governance in a particular firm is inevitable for its administration, policy making and overall health. 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They cannot possibly manage or have control over the business directly, therefore a separation of ownership and control is needed. A managing team will run the corporation and this will easily lead to conflicts between the interest of the management and the shareholders. In this essay we will look at howRead MoreExecutive Compensation And Shareholder Wealth Maximisation964 Words   |  4 PagesThis literature reviewed ‘executive compensation’ and shareholder wealth maximisation. Most studies produced mixed outcomes in relations to the matter. In producing a critical analysis on prior literature, the motive has been to converge a succinct view from different authors’ standpoint in relation to an effectiveness of executive compensation as a function of value deliberation. In addition, considered other alternatives, such as board structure in resolving this agent-problem henceforth. 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Creativity and Innovation Management Managing Distributed Innovation

Question: Task Think of an example of an innovation (or innovations) developed by a company. Select at least three of the topics developed in class and listed below, and justify how they can be applied to this particular innovation and company. Discuss, illustrate and critically evaluate how the company you have chosen formulates and implements its innovation strategies, using inà ¢Ã¢â€š ¬Ã‚ depth analysis of issues, supporting evidence, relevant theoretical arguments, and proper references.? Answer: Introduction Innovation management is the process of introducing a new and unique idea within a new or existing product in order to capture the market demand. Apple has been considered as the most innovative company as per the Forbes (Bogers and West, 2012). For a period of 12 years starting from 1998 to 2010, Apple has successfully introduced the most innovative products within the field of consumer electronics. Starting with iMac, iPod and Xserve, the company created a revolution in the computer market with the introduction of the Macbook PC and Macbook air. However the introduction of the iPhone in 2007 made Apple an unbeatable player in the telecommunication market. (BoÃÅ'ˆhle, BuÃÅ'ˆrgermeister and Porschen, 2012) Aim of the project The major aim of the project is to critically evaluate the implementation of the innovation strategies namely the standards battles and design dominance, Product vs. process innovation and protecting innovation for the Apples iPhone product ranges. Objectives of the project To evaluate the use of standards battles and design dominance innovation strategy in iPhone by Apple To identify the presence of product vs process innovation strategy in iPhone production To evaluate the use of innovation protection strategies in iPhone production by Apple Overview of the project In case of presence of network externalities, as in case of telecommunications and consumer electronic industries, the use of the dominant design strategy is important for the innovation management of a product (Lashinsky, 2012). With the introduction of the new technology like the GUI operating system, Apple incorporated the system within their Apple MAC and Apple iPhone to gain dominance within the consumer electronics market In order to implement the innovative technology Apple had to include both process and product innovation strategies and also the intellectual property rights in order to protect the innovations made within the iPhones. Methodology According to Kirkman, (2012) there are two types of data collection methods namely the primary data collection and the secondary data collection. The primary data are generally collected with the help of questionnaire surveys and face to face interviews or mail interviews. On the contrary the secondary data may be collected with the help of academic and relevant literature review concepts. In this case to analyze the innovation strategies adopted by the Apple in case of production of iPhone, the researcher can effectively take the help of the secondary data solely. For gathering of the information the researcher will effectively use the official websites of Apple and the other relevant news articles and journals in order to understand the imple4mentation of the innovation strategies. Considering the difficulties that may come up in the process of primary data collection from the Apple employees the project will rest upon the use of secondary data only. Analysis of the implementation of the innovation strategies Standards battles and design dominance The dominant product strategies are generally adopted in order to make the company dominant in the market. Dominant design is the strategy where the company wins the allegiance in the marketplace, which the other competitors and the contributors in the market need to follow in order to satisfy the customer demands. Clausen, Ten Hompel and Meier, (2014) opined that the dominant design may not be the best design for the product however the design becomes the benchmark and standard design for the product thereby forcing the other companies to adopt the same (Maine, Lubik and Garnsey, 2012). With the introduction of the iPhone in the year 2007 Apple marked the standards for the smart phones within the consumer electronic industry. Followed by the innovation of Apple, other mobile phone companies like Samsung, Sony and Motorola introduced their range of smart phones, however, the product design standard set by Apple was not overcome by any of the mobile companies. These made iPhone a domi nant product in the smart phone market. According to Jun and Sung Park, (2013) the only option for the other phone makers was to copy the major form and features and differentiate their products in some technological ways. For instance Samsung differentiated the smart phone by using android instead of IOS operating systems (Maital and Seshadri, 2012). Product vs. process innovation A product anatomy can be divided into three different dimensions namely the core benefits, the tangible specifications and the augmented features (PILKINGTON, 2013). The product innovation is related to either new product design innovation or innovation of an existing feature of the product. Thus in order to successfully ascertain the product innovations requirement it is necessary to analyze the product anatomy. According to Harmsen, (2013) generally a change in the customer requirements and addition of more features provokes the companies to engage into product innovation. The process innovation on the contrary is different to the concept of product innovation. The process innovation is actually a way of achieving a desired output with a new process (O'Connor, 2012). Protecting Innovation Innovation protection is an important matter for the companies engaging in innovative product designs. The product innovation is the generation of an idea which is different from the others. Thus, in order to keep the idea as a competitive advantage over the other companies, the innovating company needs to protect the idea. In this regard the use of Intellectual property right can be suitably used by all companies (Cruz and Paulino, 2013). The companies in this respect has the legal rights to acquire a patent against the innovative idea and product design that will give the company the monopoly right of using the product and will legally prohibit any other company or individual from using the product design or idea without the permission of the original inventor (Sharp and Jones, 2012). The patents are the tangible description of the product idea that the gives the idea a physical existence and gives the company a power to become an inventor in the field. Apple was the first company to invent the idea of iPhone and the idea of producing the smart phones followed after the initial release of the iPhones. Thus, in order to protect the right of the product design Apple had successfully taken a patent on the iPhone designs preventing from the competitors to use it within their products. Data findings The secondary data sources states that in the year 2007 Apple introduced the first iPhone which was one of the first smart phones in the consumer electronics market with the use of Apples own operating system IOS (Trott, 2012). The phone introduced the tech savvy customer to the features of touch screen navigation, user interface system, GPRS and GSM facilities and wifi connections (Volberda, Van Den Bosch and Heij, 2013). Although considered to be some of the basic features of a smart phone in the present scenario, the Apple iPhone was the first in the smart phone generation to introduce the features. As per the fibabcila reports of |Mintel in 2007 the new technological innovation and the introduction of the new range of phones were a breakthrough in the phone market and around 90% of the consumers were reported to have purchased iPhones in that year. Thus, Apple used the dominant product strategy successfully with respect to introduction of the new product design of iPhone in the m arket (D'Alvano and Hidalgo, 2011). The business model analysis of Apple shows that Apple not only concentrates on the product design innovation but also on the process innovation in order to achieve the product design innovation. The present business model of Apple has three major steps namely: Creation Delivery (Hamel, 2012) Capturing value In order to make the iPhones a success, Apple used the systematic innovation process and matched the features of iPhone with the previously introduced products like the iTunes and App stores (Wonglimpiyarat, 2012). The company had initially started with software and technological company but in order to invent new product Apple has mastered in hardware, entertainment and logistics. In this process Apple introduced the App store and connected it with the iPhones so that the users are provided with thousands of application choices in their phones making the phone a dominant product in the market (Dou, 2013). Further, Apple adopts the innovative value proposition strategy to make the product innovative and the design dominant in the market. The value proposition strategy of Apple includes creation of an experience with the product (Woronowicz, 2013). For instance the addition of the iTunes in the iPhones acted as a value proposition strategy for the phones. The introduction of the iTunes acted as youth icon for the iPhones and the younger group of customers could use the portal to download unlimited music sources with the help of the phone. Another successful strategy identified with respect to Apples products is the innovation of the product features to suit the needs of the business and corporate customers. This value proposition helped the brand loyal blackberry and PC customers switch over to Apple for the products (Yunus and Yang, 2012). As per the market survey and research on the Apples success it has been noted that 80% of Apples success depends upon the adoption of the product innovation and business model innovation or in simple words process innovation strategies (Elliot, 2012). On analyzing the product innovation protection, it has been seen that Apple has successfully taken separate patens on each and every product and sub product. The separate patents have helped Apple to fix the rights and protect the ideas from getting copied by the other phone makers (ZWECK, 2013). In this respect it has been seen that Samsung had been unsuccessful in its attempt to use the iOS as the operating system for the smart phones since Apple had a patent over the operating system. Thus the other phone companies have to incur a copyright on the product so that they can successfully use the product (Govindaraju, Krishnan and Pandiyan, 2012). Conclusions The evaluation of the secondary data sources and the qualitative analysis of the relevant academic articles and company websites show that Apple has successfully adopted the three major innovation strategies within the production of the iPhone which is still a market leader among the various smart phones available. The use of the strategies has helped Apple to project iPhone as successful dominant product in the consumer electronics market. Further the project also highlights the innovation protection strategy that has been adopted by Apple. The patent rights protection is the major strategy that should be adopted by all companies for protection of their innovative ideas. Finally the unbeatable position of the iPhone and the high market share and growing revenues of Apple from 2007 till date confirms that iPhone is still a dominant product in its category. References Bogers, M. and West, J. (2012). Managing Distributed Innovation: Strategic Utilization of Open and User Innovation. Creativity and Innovation Management, 21(1), pp.61-75. BoÃÅ'ˆhle, F., BuÃÅ'ˆrgermeister, M. and Porschen, S. (2012). Innovation management by promoting the informal. Berlin: Springer. Brem, A. and Viardot, E. (n.d.). Evolution of innovation management. Clausen, U., Ten Hompel, M. and Meier, J. (2014). Efficiency and innovation in logistics. Cham: Springer. Cruz, S. and Paulino, S. (2013). Public Service Innovation and Evaluation Indicators. Journal of Technology Management Innovation, 8, pp.51-52. D'Alvano, L. and Hidalgo, A. (2011). Innovation management techniques and development degree of innovation process in service organizations. RD Management, 42(1), pp.60-70. Dou, R. (2013). Proceedings of 2012 3rd International Asia Conference on Industrial Engineering and Management Innovation (IEMI2012). Berlin: Springer. Elliot, J. (2012). Leading Apple with Steve Jobs. Hoboken, NJ: Wiley. Govindaraju, V., Krishnan, G. and Pandiyan, V. (2012). PRODUCT AND PROCESS INNOVATION IN MALAYSIAN MANUFACTURING: THE ROLE OF GOVERNMENT, ORGANIZATIONAL INNOVATION AND EXPORTS. Innovation: Management, Policy Practice, pp.1862-1891. Hamel, G. (2012). What matters now. San Francisco, CA: Jossey-Bass. Harmsen, J. (2013). Industrial process scale-up. Oxford: Elsevier. Jun, S. and Sung Park, S. (2013). Examining technological innovation of Apple using patent analysis. Industr Mngmnt Data Systems, 113(6), pp.890-907. Kirkman, D. (2012). Social Enterprises: An Multi-Level Framework of the Innovation Adoption Process. Innovation: Management, Policy Practice, pp.1156-1184. Lashinsky, A. (2012). Inside Apple. New York: Business Plus. Maine, E., Lubik, S. and Garnsey, E. (2012). Process-based vs. product-based innovation: Value creation by nanotech ventures. Technovation, 32(3-4), pp.179-192. Maital, S. and Seshadri, D. (2012). Innovation management. New Delhi: SAGE. O'Connor, G. (2012). Innovation: From Process to Function. Journal of Product Innovation Management, 29(3), pp.361-363. PILKINGTON, A. (2013). MODELING CITATION DIFFUSION: INNOVATION MANAGEMENT LITERATURE. International Journal of Innovation and Technology Management, 10(01), p.1350004. Sharp, M. and Jones, K. (2012). Perceived inefficiency in social housing maintenance. Construction Innovation: Information, Process, Management, 12(4), pp.414-428. Trott, P. (2012). Innovation management and new product development. Harlow, England: Financial Times/Prentice Hall. Volberda, H., Van Den Bosch, F. and Heij, C. (2013). Management Innovation: Management as Fertile Ground for Innovation. European Management Review, 10(1), pp.1-15. Wonglimpiyarat, J. (2012). Technology strategies and standard competition Comparative innovation cases of Apple and Microsoft. The Journal of High Technology Management Research, 23(2), pp.90-102. Wonglimpiyarat, J. (2012). Technology strategies and standard competition Comparative innovation cases of Apple and Microsoft. The Journal of High Technology Management Research, 23(2), pp.90-102. Woronowicz, T. (2013). Software process improvement and capability determination. Berlin: Springer. Yunus, R. and Yang, J. (2012). Critical sustainability factors in industrialised building systems. Construction Innovation: Information, Process, Management, 12(4), pp.447-463. Zmud, R. and Apple, L. (1992). Measuring Technology Incorporation/Infusion. Journal of Product Innovation Management, 9(2), pp.148-155. ZWECK, A. (2013). TOWARDS AN INTEGRATED TECHNOLOGY AND INNOVATION MANAGEMENT. International Journal of Innovation and Technology Management, 10(02), p.1340002.

The Rise Of The Golden Horde Essays - Borjigin, Mongol Empire

The Rise of The Golden Horde May 4, 1997 HS123h--Liberty Block 3 Thesis: The Mongols rose to power because they were a highly advanced culture as seen through their military technology, their trade and preservation of elaborate art work, and their fair administrative policy. The Mongols were one of the most feared groups in history. The very mention of the name "Genghis Khan" struck terror into every king and every peasant. How did a scattered collection of goat herders, led by the fatherless child of a minor chieftain, build the largest empire in history? How were they able to build an empire that would eventually stretch across Asia, India, the Mid-East and Eastern Europe? The Mongols were able to rise to power because they were a highly advanced culture as seen through their military technology, their trade and preservation of elaborate art work, and their fair administrative policy. One of the greatest factors in the Mongol's favor was their highly advanced military technology. Mongols were so skilled at siege-craft that they rarely lost when besieging a castle. In order to use the latest in military siege craft, the Mongols contracted Chinese and Middle Eastern engineers who could design, build and use siege devices like catapults (Lemonick, 67). On one occasion the Mongols built their own wall outside the city's own walls so they could shoot missiles from relative safety. When the Mongols besieged a city, they also used many ingenious strategies. One of the most commonly used Mongol tactic was to besiege the city for a while, then fall back. The army inside the city walls, thinking the Mongols were retreating, would open the gates and come out in pursuit. From there the powerful Mongols would destroy the tired army, which was probably suffering water and food shortages inside the sealed-off walls. One very clever tactic used by the Mongols was the use of water. "On one occasion that the caliph's troops ventured forth, the Mongols broke a dike behind them, trapping them with flood waters." (Edwards, The Great Khans, 25) This quote refers to an incident when the city of Nishapur, capital of Shah Mohammed. The Mongols used almost the same strategy when attacking Xi Xia. The Mongols, unable to take the city by conventional means, looked to a nearby river and broke its levy. This flood either threatened to or did destroy the city's wall, and forced the city to surrender (Edwards, Lord of the Mongols, 37). The Mongols also had good weapons for non-siege warfare. Their greatest battlefield asset was their horse. The hardy Mongols ponies were treated with such care that many people today may think of it as pampering. Because of these ponies, the Mongol cavalry had the ability to advance on its enemy at astonishing speed. Mongols also made use of stirrups, which allowed them to ride standing up and to shoot arrows in any direction. The Mongols also had a well-developed communication system, called "orto" that involved riders carrying messages on horseback, similar to the pony express. This system was highly important in learning about and deterring any potential enemies (Kessier, 52). The Mongols also made a lasting contribution through their preservation and creation of superb art work. A great gift of the Mongols was their preservation of Chinese, Indian, and Mid- Eastern art styles. During the reign of Kublai Khan many Chinese works including porcelain and silk clothing were brought to his court. "Bejeweled and robed in silk, he [Kublai Khan] ruled from a palace whose walls were plated with gold and silver and decorated with the figures of dragons, beasts and birds" (Time, 26) Kublai obviously had a taste for Chinese luxuries. By bringing artworks to his court, he was able to preserve them. The Mongols also influenced the works of other countries, as seen here: "The discovery of Chinese and Indian inspired imagery on porcelain and sculpture confirm Mongolia's role in the cultural exchange between China and Eurasia." (Lemonick, 66) ]Much artwork that is today considered to be ancient Chinese was influenced or actually made by the Mongols. They were able to make such influences due to their control of the "silk road," the thousand mile long trade network linking Russia, Mongolia, China and India. On this trade route the Mongols also traded their own work. Their art, however, was much more practical. As opposed to making vases and paintings, the Mongols carved elaborate designs on their saddles and weapons like their bows and arrows. Although the Mongols are often portrayed as ruthless cannibals,

Business 410 Question and Answer

Business 410 Question and Answer Free Online Research Papers Business 410 Question and Answer 1. What is the impact of specific activities targeted at a small group in the organization on the rest of the organization’s employees? Answer In the case presented in the simulation, the focus of employee satisfaction was placed on a small group of employees that handled the baggage at the airport. I chose a few benefits, some monetary in value and some non-monetary in value in hopes of keeping them happy. The effect on the baggage handlers was significant in terms of job satisfaction and the quality of life of those team members. A possible detriment to this type of change is the possible effect it might have on the employees not in the baggage handlers group. Although not much was discussed in the simulation on other groups, it is obvious that other employees will hear about the added benefits and will feel left out. One of the top expectations employees have for their employers is fairness. It might be wise for Clara and Ray to devise a program for the rest of the employees of the airport including further surveys and meetings, as well as looking into other low or no cost compensation packages for all employees. 2. How can an organization convey that it is stringent about its policy on sexual harassment? Answer Again, in the case at the airport, two things that we did gave the perception to the employees that we were serious about the sexual harassment policy. Communication to the employees is the first key. Getting input from the employees about there thoughts and feelings on the subject is important so we know how to react in terms of giving them what they want. It also gives them a sense of accountability and ownership of the issue. The second course of action is to have not only short term plans but also long term plans to ensure that first, the issue is rectified right away, and second, the issue will not arise again. 3.Can a performance appraisal system in one organization be replicated in another? Answer Hermann Vaske once made the statement â€Å"we are all standing on the shoulder of giants†. In this case, a performance appraisal system can be replicated in other situations with some minor tweaking. By looking at what worked well and what did not, organizations can custom make a appraisal system that will work well no matter what genre of company it is. The important issues revolve around employee satisfaction and their personal life balance, not necessarily the job itself. Research Papers on Business 410 Question and AnswerMoral and Ethical Issues in Hiring New EmployeesResearch Process Part OneIncorporating Risk and Uncertainty Factor in CapitalAnalysis of Ebay Expanding into AsiaThe Project Managment Office SystemMarketing of Lifeboy Soap A Unilever ProductNever Been Kicked Out of a Place This NiceTwilight of the UAWTrailblazing by Eric AndersonBionic Assembly System: A New Concept of Self

26 Great Alternatives to ACT Practice Tests

26 Great Alternatives to ACT Practice Tests SAT / ACT Prep Online Guides and Tips To completely prepare for the ACT, you must spend time taking official ACT testsin the same conditions that you’ll face on the day of the real thing. But what if you’re stuck on a concept that you just can’t seem to quite wrap your head around? Or what if you gone through many of the available practice tests already, but still would like to keep working on your skills? The great news is that there are many otherways to effectively study the concepts being tested on the ACT! In this article, I’ll talk about what alternative practice ACT resources are good for, and how to use them bestwhen preparing for the test. Then, I’ll also go through the ACT section by section and lay out all the availablealternative resources. By the end of this post, you'll have a huge stock of extra practice material to help you prep for the ACT. How Do You Use Alternative Practice Resources? What do I mean by "alternative" resources? Basically, any test preparation material that isn't the official ACT practice tests that are released by ACT. Getting good at taking the ACT is a combination of three things. First, you have tounderstand the basic content being tested. For instance, you have to have mastered algebra concepts forthe math section and grammar nuances forthe English section. Second, you have to know how to apply this content to solving problems and answering questions. For example, you must know which punctuation rule applies when, and which math formula goes with which calculation. Third, you have to be very comfortable with the test itself. In other words, the format, pacing, time pressure, and having built up enough stamina for this very long test should be second nature from repeated practice. Now, it's 100% true that the only way to master the last of these three things is through taking official ACT practice tests in test day conditions. Nothing can give you that day-of-test confidence like having gone through it a bunch of times already. However,learning content does not necessarily have to come from ACT materials! In fact, it’s good to be exposed to the same concepts presented in many different ways to really cement your understanding of how they work. This means that alternative resources that aren't necessarily specifically designed for ACT practice are actually a great way to boostconceptmastery. Alternative Study Resources for Each ACT Section Now letsgo through each of the ACT test sections one by one, and discuss ways to study for them other than usingtheoffical ACT practice question sets and tests released by ACT. Math Before diving into study alternatives, let's first go over what concepts are tested on the ACT Math section. Not surprisingly, it's the math you've been learning in school: Pre-algebra Algebra Geometry Trigonometry Alternative Study Resources for ACT Math Your school math textbooks or an online math textbook like theKhan Academy. These resources are great forexplaining difficult concepts, formulas, and theorems, and potentially for doing some of the non-multiple choice problems. Online ACT-style math questions. It's true that other companies generallyaren't that good at reproducing actual ACT questions. Still, third-party question banks can be helpful for some extra work attacking your math weaknesses. We've combed through them all to bring you anoverview of the best question bank websites. Math sections from the new post-2016 SAT. The new SAT math section is much more like the ACT, since itnow includes trigonometry questions and gives only 4 answer choices per question. This means that practice SAT questionsa great way to get in some more multiple choice practice. But, you're best off treating SAT math sections the same way you would treat question banks from other companies: their wording and format also don't reproduce those on the ACT. ACT Math review books.These will go over the key concepts you have to know to do well on ACT Math, and explain how the ACT will test them. To make your life easier, we’ve put togethera guide to the best ACT study booksout there. PrepScholar’s ACT Math guides.Our section on everything to do with ACT Math has some of the best researched and most detailed information you'll find anywhere. Some especially helpful guides include: All about math formulas.ACT won’t provide you with formulas, so you have to have the most commonly used ones down cold. Sounds stressful, but we can help! Readthrough our guide to the 31 math formulas you must knowcoupled with ourexplanation for how to actually use those formulasto get the full scoop on what you have to know. It's nice how1+2*3 is mixed into the infinity/pi/square root of 2 morass there. Looks like kindergarten and 10th grade are sharing the math room again. English This section will test your knowledge of how the English language works by asking you passage-based questions on the rules that apply to formal writing. There are two main types of questions: usage and mechanics (punctuation, grammar, and sentence structure) rhetorical skills (writing strategies, logic, paragraph and passage structure, and style) Alternative Study Resources for ACT English Grammar guides. There's just no way around it: knowing grammar and punctuation rules is critical for this section of the test. In order to learn the best grammar practices, go back toany textbooks you may have used inEnglish class. I also recommendthat youscroll through Erica Meltzer's Critical Reader blog for her helpful posts on ACT English, and read our complete guide to ACT grammar rules. Writing sectionsfrom the new post-2016 SAT.After its major overhaul, the new SAT will much more closely resemble the ACT. This means that you can use new SAT questions to drill your understanding of grammar and sentence structure. In particular, seek out practice questions from the Writing portion of the Writing Literature section from the post-2016SAT. "Improving Paragraphs"questions from the pre-2016 SAT. The old version of the SAT offers one useful type of question for studying for the ACT. Part of the old SAT Writing section was devoted to Improving Paragraphs: questions about grammar and punctuation in the context of a passage, rather than an isolated sentence. These are fairly similar to the questions you'll encounter on ACT English. But be careful to avoid the other questions in that section, because they are simply too far removed from what you have to be able to do well on the ACT. Read, read, read. Read widely, read challenging material, and particularly read nonfiction. The more you read complex writing, the more the nuances of grammar and structure will embed themselves in your mind, the more familiar you will be with elevated vocabulary, and the more you will learn how an author uses logic and rhetoric to get a point across. I recommend slowly digestingand really trying to understand a few articles a week from Grantland, The Atlantic, or Slate. If you have access to a subscription, you can also read the New York Times. PrepScholar's ACT English guides.We've worked hard to bring you as much helpful information about ACT English as possible. Some especiallyusefulguides include: Strategy.Part of doing well on the test is using a great approach to attack each section. We've analyzed and compiled 9 different key tactics for ACT English. All about grammar, syntax, and diction. We have broken down the complicated rules that you need to know into manageable chunks like: common word choice errors, the relative formality of the language on the ACT, and how to deal with shifting verb tenses. Maybe ACT English should actually test your relative English-ness. I think I could ace the tea test, especially if cucumber sandwiches were involved. Reading This portion of ACT tests your reading comprehension abilities. Let's once again start with a quick overview ofwhat's actually coveredon the ACT Reading section: 4 sections of passages from different genres (fiction, or nonfiction from the humanities, social studies, or natural sciences) questions ask you tocompare and contrast ideas, extract information, generalize from narrowly focused facts, and explain vocabulary in context Alternative Study Resources for ACT Reading Vocabulary guides. The ACT does not test vocabulary by itself, by you will see many complex words in context so if this is a challenging area for you then it will be helpful to see some guides to commonly occurring vocabulary. Check out resources like our free set of 200 flashcards and our guideto the vocabulary commonly used on the ACT vocabulary. Readingsectionsfrom the new post-2016 SAT. The redesignedSAT now has a section that also tests reading comprehension by asking questions about provided passages. Looking at these would be a good way to get in some extra practice. When studying, seek out passage-based questions from the Reading portion of the Writing Literature section. Passage-based reading questions from the old SAT.On the pre-2016 SAT, there were a few sections that could help with preparing for ACT Reading. Look for the parts of the Critical Reading section that feature multiple-choice questions based on provided passages. These won't be exactly like the ones on the ACT, but they can help you practice context-based questions. GRE Reading Comprehension questions. The Verbal Reasoning section of the GRE has a number of passage-based Reading Comprehension questions. It's true that these are pitched at a higher level than the ones you'll see on the ACT because the GRE is meant for college students heading to grad school. But if you are a student who is consistently getting medium- to high-scores on practice tests, you can use the GRE to challenge yourself. AP Language and AP Literature multiple choice section questions.Both of these AP test feature portions with passage-based multiple-choice question that test reading comprehensionandyour understanding of logic and structure. They are pitched at a higher level than the ACT, but if you do well on these, you’ll be fine on the ACTas well. Reading widely will also really help here. The test wants to measure how you are at understanding information being presented in written form, and how much you can tell about the way authors structure arguments. Try making time for weekly explorations of Reasonor The Root.On the paid subscription side, you can't go wrong with The New Yorker. PrepScholar’s ACT Reading guides.Let us guide you through some of the trickier parts of what you have to know to ace this part of the test. Some particularlyhelpful guides: Dissecting the test. We describe the4 types of ACT Reading passages you should know, give you some pointers onthe best way to read ACT passages, and enumerate every single type of question you're going to encounter. Her hair is fromPippi Longstocking, her book is The Little Prince, and her candy is Turkish delights from The Lion, The Witch, and the Wardrobe?! Pick a fandom, already, will you! Science Unlike its name suggests, this section relies more on your ability to understand visually presented data then on your knowledge of hard sciences. A quick refresher on what's tested on the ACT science section: paragraphs with visually presented data you’ll have to interpret descriptions ofexperiments that you’ll have to evaluate and analyze a set of two or more alternate theories or hypotheses that you’ll have to compare and contrast concepts from Biology, Chemistry, Physics, Astronomy, and Geology Alternative Study Resources for ACT Science Basic science guides.The test is almost exclusively focused on your ability to comprehend passages about science that are written for a non-scientist audience. Nevertheless, you will find it helpful to be familiar with some of the more basic concepts from biology, chemistry, physics, and math. We have put together an explanation of thescience you actually have to know for the ACT. If you need to re-familiarize yourself, go back to your high school textbooks, or use an online version (again, I likeKhan Academy). ACT Prep books.Many of these will give you tips and tricks on dealing with this portion of the test. Our guideto the best ACT books for intense study saves you from having to navigate the hundreds out there. Readingsectionsfrom the new post-2016 SAT.The redesigned SAT has somepassage-based reading comprehension questions based on scientific passages in the Reading portion of the Writing and Literature section. These are very similar to what you will encounter on the ACT science section because they also ask you to draw conclusions about graphs, charts, and tables, as well as passages describing a scientific process, theory or experiment., so you can seek those out. Make sure you look only at test prep designed for the post-2016 SAT. Popular science articles. You don’t need to dig out scholarly journals, but you should spend time reading scientific nonfiction intended for lay readers. It’ll give you familiarity with how data can be presented graphically through charts, graphs, and tables. My favorites areWired, FiveThirtyEight,Scientific American, andNature. If you can access a subscription, read The Economist or the magazine Science. PrepScholar’s ACT Science guides. Some especially helpful guides: Strategy. Check out our suggestions for attacking this section and tips to keep in mind while taking the test. All about the question types. We can explainthe 3 types of ACT Science passagesyou'll encounter, along with how todeal with questions about interpreting experiments, how to handle questions about experiment design, what to make of questions about trends, and finally, how to approach the conflicting viewpoints part of the section. How much science do you need to know to play Fruit Ninjain space? Writing The essay section was dramatically changed in 2015 to more closely align the test with Common Core standards and the kind of writing you'll do in college, so make sure you're familar with the updated format: You'll be asked to write an essay on a controversial topic, including information and analysis from 3different presented perspectives. You also need to explain your own point of view. Alternative study resources for ACT Writing: Guides to the standard 5-paragraph essay. This is our recommended structure for the ACT essay. For many explanations of how a 5 paragraph essay works, search for â€Å"5-paragraph essay,† or readour guide to ACT format and essay templates. Staying well informed. The essay will ask you to present evidence to back up your thinking. The best places to draw that evidence from? Current events, historical events, and incidents from your own life. So read newspapers, listen to NPR, and download podcasts like Planet Money, RadioLab, and On the Media. Excellent essays written by others. Reading well-written essays can help you understand how essays work and how authors structure arguments and ideas. You may even pick up some helpful ideas for your own writing as well! One great source of excellent short essays is The Electric Typewriter. PrepScholar’s ACT Writing guides.We've put together some helpful advice on tackling the ACT essay. Great guides include: All about the essay. We lay out a step by step explanation ofhow to write an ACT essay, and also give you ourcomplete guide to ACT Writing prompts. If I were an ACT writing grader, I would totally give super bonus points for any essays written in Aztec pictographs. The Bottom Line So what should you take away from this article? Studying content and concepts for the ACT can be done really effectively through resources not designed for test prep, andnd there are many of these kinds of resources! There are enough similarities between ACT and the SAT that you can use certain sections of both the old and new SAT as extra study materials for the ACT. Reading widely, reading often, and reading for meaning will help you on almost all of the different ACT sections you'll face the day of the test. What’s Next? Stuck trying to motivate yourself to get started studying? We hear you. Here’s our advice on how to beat the urge to procrastinate and how to give yourself the gift of properly structuring your study time. If you’re in the middle of studying for the ACT, we have alist of 21 tips you should not miss out on and15 ways to really boost your ACT score. We also have a general ACT prep guide. Unsure what your ACT target score should be? We explainwhat score you need to get into your target college, and give you some pointers on figuring outwhat’s a good ACT score for you. Want to improve your ACT score by 4 points?We have the industry's leading ACT prep program. Built by Harvard grads and ACT full scorers, the program learns your strengths and weaknesses through advanced statistics, then customizes your prep program to you so you get the most effective prep possible. Check out our 5-day free trial today:

Model answer for Business Environement and Economics Essay

Model answer for Business Environement and Economics - Essay Example Thus, there is a rise in the aggregate demand for exports from the nation. On the contrary, the demand for imports also falls due to a higher value of foreign currencies. However, there are adverse implications of a falling exchange rate value as well. It discourages overseas investors from pouring their resources in a nation whose domestic currency bears a poorer value than that of the home country. This will imply a fall in the aggregate amount of investments and thus a negative influence on the gross income of the concerned nation. Nevertheless, this is compensated through a rise in export balances as well, so that the impact on the aggregate income of the nation is almost negligible. Moreover, a gradual rise in the income level establishes the rate of exchange at the previous level and thus, wins back the faith of the overseas investors once again, so that the nation is shoved to a path of economic growth and the national business houses experience prosperity once again. Speaking in terms of comparative advantage principals, suppose there are two nations, A and B, with each of them endowed with resources capable of producing two goods, X and Y. according to the principal, if A can produce X at cheaper expenses than B, then, A must concentrate on producing X only, while B should produce Y. The amounts of X and Y that each of them need would be traded between them so as to produce a mutually beneficial situation through increased income levels. The situation could be encompassed through the inequation, PXA/ PYA < PXB/ PYB, i.e., PXA/ PXB < PYA/ PYB. If currency of A devalues, it implies that both PXA and PYA should fall, compared to those in B, which need not maintain the inequations. In fact, it might be revealed that the relative prices of both X and Y is lower in A than in B due to cheaper production costs. Hence, demand for Y from B would shift to A; A now supplies both X and Y, which are imported by B. B in turn needs to open up other income

Business M2 Essay Example | Topics and Well Written Essays - 250 words

Business M2 - Essay Example Features that can be added to the website are such as virtual help desks, whereby a customer can access real time customer care services. In this case, this requires embedment of a chat widget, where they can initiate a chat with an online operator. Businesses have derived substantial benefits from their websites, whereby they are able to promote their services and products. Other uses their websites to conduct online transactions that contribute to overall sales for the company (Smith, 2012). On the other hand, they can communicate to their customers through the website and this leads to increased efficiency. Customers are provided with a platform through the website where they can communicate effectively and send their complaints, facilitate processing of orders, following up and seeking other services (Smith, 2012). Moreover, customers are able to gather information concerning the business that can be used for making relevant decisions such as selection of vendors. Smith, D. (2012). IT and Business Working Together for Better Compliance. In Defense of Data. Retrived from:

The Effects of the Immigration Justice System Essay Example for Free

The Effects of the Immigration Justice System Essay Illegal Immigration in America is at an all time high, but what the government is failing to see is the after affects this has on family and children of illegal immigrants. After September 2011 government has started enforcing immigration laws in staggering numbers, when in fact some of these illegal immigrants have been in this country for many years living a productive life with their families. After years of immigration laws being looked over now everyone in the illegal immigrants’ life is affected due to stiffer immigration laws. Immigration is a topic on a lot of people’s minds these days. Many illegal immigrants are being pulled over due to racial profiling. According to Hughes (2012), â€Å"Nearly half of the suspected illegal immigrants picked up for deportation under Frederick County’s enforcement program last year were arrested for a traffic violation or driving without a license, according to county records. † Subsequently they are deported leaving their families behind here in America to make a tough decision as to stay or go be with family. These families most of the time are mixed citizenship families as to where one or both parents are illegal to this country. As for the children they too sometimes are of mixed citizenship. Most people say â€Å"send them back they broke the law† but why should the children have to pay for their parents mistakes. The government and the justice system need to come up with an immigration reform that is fair to all but still penalize them for breaking the law. If you have a criminal history you should be deported but if the biggest crime you have committed is driving without a license you should not be deported. Not only does the Immigration justice system affect the illegal immigrant it also affect the families and children of the illegal immigrant. â€Å"U. S. Immigration and Customs Enforcement (ICE) have adopted common sense policies that ensure our immigration laws are enforced in a way that best enhances public safety, border security and the integrity of the immigration system (ICE, 2012). † This is how the immigration system is run since September 2011. Before this illegal immigrants who lived in this country only feared deportation if they ommitted a major crime. For that reason most whom where here illegally lived a very productive life without committing any crimes. They started families here in America if they did not already have a family. â€Å"As part of this approach, ICE has adopted clear priorities that call for the agencys enforcement resources to be focused on the identification and removals of those that have broken criminal laws, recently crossed our border, repeatedly violated immigration law or are fugitives from immigration court (ICE, 2012). With this being said does it make you wonder, what happens to the families and children that are also entangled in the Immigration justice system web? The Immigration justice system is breaking up families everyday in America. Morel (2012, p. 1) states, â€Å"There are 4. 5 million U. S. citizen children who have an undocumented parent, according to First Focus, a national children and families advocate group. † So what happens to these children when their parent or parents are deported? Well the answer is a lot of these children are now orphaned in this country and are put into the foster care system. Some are at an age where they will not get to be adopted into a home; they will live for years going from foster home to foster home. As for the children who still has a parent here in America they will be faced with many difficulties. Their parent that was deported was more than likely the â€Å"bread winner† of the family so now the family has to struggle just to survive. The family has to decide whether to stay in their home country or to pack up and move to an unknown foreign country were the children possibly will not even speak the language. The deleterious impact of these public efforts has been most profound on immigrant children, many of whom may be U. S. citizens living with undocumented families. † (Androff et al. , 2011) Therefore the children are affected in every way from physical to mental due to the stress a child is put under at the time of deportation. May the child be a citizen or not of this country they did not chose to live this life and go through the suffering many are enduring. Some people say that it is the illegal immigrant who has been selfish and caused these problems for their children by entering the country illegally. As a result the government should find a fair way to reform immigration for the productive illegal immigrants. Immigration reform has been a topic for several years and still there is no reform. According to an article by Kim, (2012) â€Å"One state lawmaker wants to give illegal immigrants permission to work legally in the country if they dont have a criminal background. † If the illegal immigrant has lived in this country for a number of years without any major crime committed and they have a family, they should be penalize or fined not deported. Illegal immigrants who commit crimes other than simple driving violation should not be granted amnesty. There has to be reform in order to keep these families together or American citizen kids from being moved to an unknown country. This country needs some kind of immigration reform to keep children from suffering. With all this information you can clearly see the negative affects the immigration justice system is having on the family and children of illegal immigrants. Fathers and mothers are being ripped away from their children. When in all reality all they want is to give their children a better life and a fighting chance that they would not have in their own country. America is known as â€Å"the land of dreams and opportunity† and this is what most illegal immigrants want is an opportunity to fulfill their dreams in this country with their family. Therefore the government of our country should find away to reform immigration laws so the family and children of illegal immigrants are not affected in such a negative way.

Molieres the Imaginary Invalid :: essays research papers fc

Moliere's "The Imaginary Invalid" Moliere's "The Imaginary Invalid" is a farcical play about a hypochondriac who is so obsessed with his health and money that he ends up neglecting his family. The story involves several different themes and plots within one family. A new interpretation of this 17th century play is now being performed at the Arts Club Theater; it incorporates some new changes and modernizations in addition to the traditional improvisation. Morris Panych has definitely succeeded in delivering a new, more comical version of Moliere's final play. Moreover, the dominant theme of this play is body versus mind. The play is about a wealthy, but stingy man who believes that he is constantly sick (Argan). However, there is an obvious doubt to whether he is really sick or if he is just imagining his illness. Therefore, the primary theme is Argan's internal struggle of body vs. mind. This theme is developed throughout the play into smaller themes such as masculinity versus femininity, greed versus love, and death versus life. Two of the major changes from the text to the play are Argan's degree of illness and his death. In the text, there are very few elaborate descriptions of Dr. Purgon's treatment. However in the play by Panych, there is no shortage of enemas and other "bathroom" related scenes. I originally thought this change was for comical purposes, but after some additional thought I questioned whether Argan was imagining his illness or if he really was ill. In the text, by not having too many bathroom scenes, Argan seems to be imagining his illness (thus, he is the imaginary invalid). In Panych's stage version, Argan shows several symptoms of being ill; this definitely confuses the original play by Moliere. One of the original purposes of the play was to criticize, among other things, the medical profession in Moliere's time. Now, if Argan really was sick, does that mean that the doctors were correct in their analysis? No, it doesn't. I believe that Panych intended to show that it was the doctors' treatments that made Argan ill and eventually killed him. Another major change from Moliere's version is Beralde's gender and role in the play and in the family. Beralde is transformed into Argan's sister, instead of his brother. Panych saw male versus female as a major theme. If you look at the structure of the original play, all the people who truly love Argan and mean him well are female, except for Beralde. In fact out of all the different characters who take advantage of Argan, only one of them is female-

Dear John Doe

Dear John Doe,Thank you for your interest in the store manager position. We appreciate the opportunity to consider you for our team. As we have received many applications for this position and everyone was well qualified. You have more than enough experience and seem like you know what it takes to improve our stores. I also noticed you took some time to find out we are a Fortune 200 company which means you pay attention to details. You are confident in your letter and that is something we value, it shows a strong candidate! There are a few things I would recommend for future inquiries in any job position with us or another company. Always make sure to address the recipient as Mr. Ms. Or Mrs. When writing a formal letter. It comes off as more professional, and while we are always open to feedback for improvement a job letter is not the best place. Also, I absolutely hate to hear your store experiences weren't what you expected. Thank you for letting me know! And that is something that'll be taken into consideration. I'm looking for a positive tone when speaking about the company and we want you to express that in your letter. But If you every have a complaint you are more than welcome to let us know by calling, emailing or even writing us. Always make sure that you speak positively about your previous job experiences or employers. When speaking of your previous employers or fellow coworkers in a bad light it can come off as negative and we don't want that to happen.Lastly, while I've carefully reviewed your background and experience I've decided to proceed with other candidates who meet our needs more closely at this time. This was a tough decision for me, as you were a strong candidate. If you need to contact me any time regarding our response or any other issue, please to at: [email  protected] Sincerely,John TenfieldHiring [email  protected]

Marks ; Spencer Group Anaylsis Essay

Marks and Spencer Group plc  © MarketLine Page 2 Marks and Spencer Group plc Company Overview COMPANY OVERVIEW Marks and Spencer Group (M&S or â€Å"the company†) is one of the leading retailers of clothing, foods and homeware in the UK. The company operates in more than 40 countries across Europe, the Middle East, and Asia. It is headquar tered in London, the UK and employs 78,169 people. The company recorded revenues of ? 9,740. 3 million (approximately $15,158. 8 million) in the financial year ended April 2011 (FY2011)*, an increase of 2. 1% over FY2010. The operating profit of M&S was ? 836. million (approximately $1,302. 5 million) in FY2011, a decrease of 1. 8% compared to FY2010. The net profit was ? 612 million (approximately $952. 5 million) in FY2011, an increase of 16. 3% over FY2010. *The financial year ended April 2, 2011 was a 52-week period whereas the financial year ended April 3, 2010 was a 53-week period. KEY FACTS Head Office Marks and Spencer Group plc Wa terside House 35 Nor th Wharf Road London W2 1NW GBR Phone 44 20 7935 4422 Fax Web Address http://www. marksandspencer. com Revenue / turnover 9,740. 3 (GBP Mn) Financial Year End April Employees 78,169 London Ticker MKS Marks and Spencer Group plc  © MarketLine Page 3 Marks and Spencer Group plc Business Description BUSINESS DESCRIPTION M&S is the holding company of the Marks & Spencer Group of companies. The company is one of the UK’s leading retailers, with more than 21 million people visiting its stores each week. M&S offers clothing and home products, as well as foods, sourced from about 2,000 suppliers globally. It operates through both wholly owned stores and franchise stores. As of FY2011, the company operated 703 stores in the UK. M&S operates over 361 owned and franchised stores in over 42 territories. Though the company primarily repor ts its revenues in terms of geographic segments (UK and international), its operations can be categorized under two divisions: food and general merchandise. The food division concentrates on four main areas: fresh, natural, healthy food; special celebration products; authentic ready meal ranges; and exceptional ever yday food such as â€Å"Oakham† chicken. It operates a chain of 163 Simply Food owned stores and 202 Simply Food franchise stores in high streets, motorway service stations, railway stations and air por ts in the UK. The general merchandise division of the company is categorized into two segments: clothing and home. The clothing segment offers women’s wear, men’s wear, lingerie, children’s wear, and accessories and footwear. Some of the prominent brands offered by this segment include Autograph, Limited Collection, Collezione, Blue Harbour, Girls Boutique, Per Una, Ceriso, Adored, and Truly you. The home segment offers homeware and home accessories, kitchen and tableware, lighting, and furniture products. In addition to selling products through regular stores, the segment also offers catalogue services. M;S offers its products and services online as well as through flagship stores, high street stores, retail park stores, M;S outlets, Simply Food stores, and Simply Food franchised stores. Marks and Spencer Group plc  © MarketLine Page 4 Marks and Spencer Group plc History HISTORY M;S was founded in 1884 as a stall in an open market in Leeds, the UK. Then known as Marks’ Penny Bazaar, it was the household goods, haberdasher y, toy, and sheet-music business of Michael Marks, a Jewish refugee from Poland. In 1894, he took Thomas Spencer as a business par tner. In 1903, M&S was registered as a private limited company. Although a clothing design depar tment had first been set up in 1938, it was not until after the Second World War that it became fully developed under a leading designer. In 1973, the company entered Canada, and bought Peoples Depar tment Stores and D’Allaird’s, a national women’s wear retailer, both of which it later sold. The company also had direct retailing investments in Canada. It tried to move south of the border in 1988 with the purchase of Brooks Brothers, but the US operation never took off as the company had hoped. Five franchised stores were closed down in Turkey in 1999 when the franchise par tner Turk Petrol Holding couldn’t meet its bank obligations and collapsed. Later in the year, Marks and Spencer Canada, after 25 years of business, closed its 38 stores. The company sold its US clothing chain Brooks Brothers for $225 million in 2001. In 2003, M&S announced the launch of its â€Å"&more† credit card. Alongside this, Marks & Spencer Financial Services was re-branded â€Å"Marks & Spencer Money. † In 2004, M&S completed the sale of Marks & Spencer Retail Financial Services Holdings (M&S Money) to HSBC. During the course of 2005, the company opened 31 Simply Food stores as well as closed the Lifestore project in the UK. M&S expanded the â€Å"Simply Food† format with the acquisition of 28 stores on a leasehold basis from Iceland Foods for a consideration of ? 38 million (approximately $76. 3 million) in 2006. In the same year, M&S sold Kings Super Markets, its only non-M&S branded business to a US investor group consisting of Angelo, Gordon & Co, MTN Capital Par tners and Mr. Bruce Weitz for $61. 5 million in cash. In 2007, M&S and two of its long-term suppliers decided to star t the development of M&S’ first â€Å"eco-factories†, pioneering innovative methods of sustainable manufacturing. One factor y in Sri Lanka would make lingerie and two factories in Nor th Wales would manufacture furniture upholster y. In the same year, the company launched its own branded LCD widescreen TVs. This range was in addition to the existing collection of Sony TVs currently available at M;S. Fur ther in the year, M;S launched school wear made from recycled plastic bottles. The company’s first standalone home store in Lisburn, Nor thern Ireland was launched in 2007. In the same year, M&S launched Big & Tall, an exclusive online men’s wear offering more than 450 items online ranging from tailoring to knitwear to casual shir ts and trousers. Also in 2007, M;S reduced saturated fat level as much as 82% in more than 500 company’s products. The company reduced saturated fat levels in products including sandwiches, ready meals, crisps and savor y snacks. Marks and Spencer Group plc  © MarketLine Page 5 Marks and Spencer Group plc History Towards the end of 2007, a new Made to Measure shir ts ser vice was launched by M&S, which allowed customers to design a tailor-made shir t within 21 days. The company added new products to its men’s wear por tfolio in FY2008. M;S also launched climate control underwear featuring temperature regulating technology developed by NASA, expanded Collezione brand collection by introducing new shoes, wool and cashmere mix trousers. M;S reinvigorated its Blue Harbour brand to attract 35 to 44 year old men. Also in FY2008, the company star ted to freeze its ready meals for international sale and launched a range of 70 lines in eight countries. Later, the company also launched a 25-piece capsule collection called GD25 from Per Una. In 2008, M;S removed ar tificial colors and flavorings from its entire food and soft drinks range. In the same year, the company improved the quantity of space in a number of major out of towns and city centre stores through store extensions and also added 35 stores to its Simply Food por tfolio, including 25 BP franchised stores. A new flagship store in new Westfield Centre at White City, West London was opened at the end of 2008. To fur ther progress in Asian markets, the company opened its first 38,000 square feet store in Shanghai. M;S then entered into a par tnership with Scottish and Southern Energy, as per which M;S Energy would supply electricity and gas to domestic customers and reward them with M;S store vouchers for helping the environment by reducing their energy usage. M;S announced plans to close 10 of its Simply Food stores in 2009. The company opened Food to Go outlets in Hong Kong in the same year. Also in 2009, M;S announced plans to enter new categories in the Indian market, with the launch of luggage and footwear for men. The company introduced a Ramadan and Eid fashion collection in all the 13 stores throughout the Middle East in the UAE, Bahrain, Qatar, Kuwait and Oman in 2009. Fur ther in the year, M;S launched personalized greetings cards business online. The company also announced to open its second mainland store in Guangzhou, the capital of Guangdong province in southern China. M;S also launched a beer and cider range to complement its wine selection. M;S launched a revamped version of its website in 2009, the first major update since 2007. Fur thermore, in 2009, the company began to offer its online international deliver y service to 73 more countries as par t of a drive to grow annual sales of M;S Direct. The company began its offering within the homeware sector in 2009. M;S announced plans to open a store in Marbella, Spain by the end of 2009. In the same year, M;S and India-based Reliance Retail planned to open approximately 50 stores in India in the following five years under the banner of their joint venture company Marks ; Spencer Reliance India. Later in the year, the company outlined plans to cut costs by ? 50 million (about $150 million) by optimizing its supply chain and IT systems. M;S also announced plans to open a new store at the Swords Pavilions shopping center in the Dublin Airpor t, Ireland, in 2009. The company opened its new 22,000 square feet store at Morpeth’s Sanderson Arcade in the same year. M&S decided to launch â€Å"Simply Food† in Western Europe. Fur ther in 2009, the company a nnounced plans to sell a selected range of around 400 branded grocery and household products in all of its UK stores, following a 16-month trial in its stores in the Nor th East and South East of England. In 2010, M&S launched a new Home Energy Service division that would offer customers a suite of energy efficiency products and services. Building on the success of M&S Energy, which was servicing Marks and Spencer Group plc  © MarketLine Page 6 Marks and Spencer Group plc History over 125,000 homes, the company would roll-out a number of new products including bespoke energy advice, renewable energy solutions such as solar panels and heat pumps, and energy efficient heating solutions. In the same year, M&S announced a program to be the world’s most sustainable retailer by 2015, launching 80 major new commitments under M;S’ eco and ethical plan, Plan A. The new commitments will mean that the company ensures all M&S products become ‘Plan A products’ with at least one sustainable quality. This program will also enable the company’s 2,000 suppliers to adopt Plan A best practice and encourage M;S customers and employees to live ‘greener’ lifestyles. Fur ther in 2010, M;S launched a new version of www. marksandspencer. om designed specifically for use on mobile phones and mobile devices—the first mobile site from a major UK high street retailer. Through this, the company aims to expand its multi-channel offering. During the same year, M;S launched England Football team suit exclusively in M;S stores, to take advantage of the football World cup spending. The company opened its new 1. 1 million square feet distribution centre at ProLogis Park Bradford in the UK in 2010. This warehouse in the UK will serve all the company’s stores with furniture products and store equipment. Later in 2010, M&S launched a range of Solar PV and Solar Thermal water heating solutions. Fur thering the sustainability initiatives, the company also announced that it will use polyester made from recycled PET drinks bottles instead of virgin polymer to make more than 300 million clothing care labels a year. Towards the end of 2010, M&S announced plans to move into rail distribution to reduce its carbon footprint. More than 300,000 general merchandise products per week would move from road to rail distribution. The company also opened a new shopping center in Vilnius, Lithuania at the end of year. In April 2011, M&S opened its greenest ever store at Ecclesall Road in Sheffield. This is the first store of a number of new Sustainable Learning stores planned by the company as par t of its drive to become the world’s most sustainable major retailer by 2015. The company opened 20 stores in the UK during FY2011, including 17 Simply Foods. In international, M;S opened 49 new stores and closed 15 stores. During the same period, the company entered the Egyptian market with a 28,000 square feet store in the Dandy Mega Mall in Cairo. The company, in July 2011, launched a new iPad application for its investors. This application will provide investors with latest M;S financial news. In the following month, M;S signed a traceability deal with Historic Futures. As per the deal, Historic Futures will provide the company full traceability on ever y single clothing and home product it sells. M;S is the first major retailer to commit to full traceability for non-food products. In September 2011, M;S opened a new store at Westfield, Stratford City with the latest ‘Only at Your M;S’ innovations and customer experiences. In the following month, M&S launched its new French website, http://www. marksandspencer. fr/, marking its first international transactional website. Marks and Spencer Group plc  © MarketLine Page 7 Marks and Spencer Group plc History The company, in November 2011, opened its new flagship store at 100 Avenue des Champs-elysees in Paris. M&S, in February 2012, launched its outlet format on its website at www. marksandspencer. com/outlet. M&S Outlet will permanently offer a selection of more than 1,300 quality M&S clothing products with up to 40% off the regular high street and online prices. In the same month, the company recalled four products (Crispy Prawn Wonton, Crispy Vegetable Balls, Prawn Baguette Toast, and Prawn Siu Mai Selection) from its Chinese range due to mistake in ‘use by’ date. In March 2012, the company, announced plans to launch a new website for its Irish customers, http://www. marksandspencer. ie/. In April 2012, M&S announced that it will accept secondhand clothes at UK outlets in order to recycle into other fabrics or reuse overseas by the Oxfam charity in an aim to cut waste. Marks and Spencer Group plc  © MarketLine Page 8 Marks and Spencer Group plc Key Employees KEY EMPLOYEES Name Job Title Board Marc Bolland Chief Executive Officer Executive Board 975000 GBP Alan Stewar t Chief Finance Officer Executive Board 550000 GBP Kate Bostock Executive Director, General Merchandise Executive Board 590000 GBP John Dixon Executive Director, Food Executive Board 540000 GBP Steven Sharp Executive Director, Marketing Executive Board 655000 GBP Laura Wade-Gery Executive Director, Multi-channel E-commerce Executive Board Amanda Mellor Group Secretar y and Head of Corporate Governance Executive Board Rober t Swannell Chairman of the Board Non Executive Board Vindi Banga Director Non Executive Board Miranda Cur tis Director Non Executive Board Jeremy Darroch Director Non Executive Board 85000 GBP Steven Holliday Director Non Executive Board 85000 GBP Mar tha Lane Fox Director Non Executive Board 70000 GBP Jan du Plessis Director Non Executive Board 70000 GBP Clem Constantine Director, Proper ty Senior Management Tanith Dodge Director, Human Resources Senior Management Dominic Fr y Director, Communications and Investor Relations Senior Management Jan Heere Director, International Senior Management Nayna McIntosh Director, Store Marketing and Design Senior Management Steve Rowe Director, Retail Senior Management Darrell Stein Director, Information Technology and Logistics Senior Management Marks and Spencer Group plc  © MarketLine Compensation 450000 GBP Page 9 Marks and Spencer Group plc Key Employee Biographies KEY EMPLOYEE BIOGRAPHIES Marc Bolland Board: Executive Board Job Title: Chief Executive Officer Since: 2010 Mr. Bolland has been the Chief Executive Officer at Marks and Spencer Group since 2010. Previously, he was the Chief Executive Officer at Morrisons Supermarkets from 2006 to 2010. Prior to this, Mr. Bolland worked at Heineken for 20 years in various management roles, including Executive Board member and Chief Operating Officer, and responsibility for operations and business development in the US, France, Italy, Spain, the Caribbean and Latin America. He also ser ves as a Director at Manpower. Alan Stewart Board: Executive Board Job Title: Chief Finance Officer Since: 2010 Mr. Stewar t has been the Chief Finance Officer at Marks and Spencer Group since 2010. Before joining the company, he was the Chief Financial Officer at AWAS, an aircraft leasing company. Mr. Stewar t spent 10 years at HSBC Investment Bank before joining Thomas Cook in 1996, where he held various senior roles, including Chief Executive at Thomas Cook UK. Mr. Stewar t joined WH Smith in 2005 as Group Finance Director. He also ser ved as a Non Executive Director at Games Workshop Group. Kate Bostock Board: Executive Board Job Title: Executive Director, General Merchandise Ms. Bostock is the Executive Director of General Merchandise at Marks and Spencer Group. She joined the company in 2004. Previously, Ms. Bostock was the Product Director for Childrenswear at Next from 1994. She also ser ved as the Product Director for the George brand covering all areas of clothing and footwear at Asda. John Dixon Board: Executive Board Job Title: Executive Director, Food Marks and Spencer Group plc  © MarketLine Page 10 Marks and Spencer Group plc Key Employee Biographies Since: 2009 Mr. Dixon has been the Executive Director of Food at Marks and Spencer Group since 2009. He joined the company as a Store Management Trainee. Mr. Dixon held various senior roles at the company for over 20 years, including Executive Assistant, Chief Executive, and Director of Home and M&S Direct. Steven Sharp Board: Executive Board Job Title: Executive Director, Marketing Mr. Sharp is the Executive Director of Marketing at Marks and Spencer Group. He joined the company in 2004. Previously, Mr. Shar p served as the Marketing Director at Asda, the Bur ton Group, Booker, and Arcadia Group. Currently, he is a Non Executive Director at Adnams. Laura Wade-Gery Board: Executive Board Job Title: Executive Director, Multi-channel E-commerce Since: 2011 Ms. Wade-Gery has been the Executive Director of Multi-channel E-commerce at Marks and Spencer Group since 2011. Prior to this, she worked at Tesco and held a variety of senior roles, including Chief Executive Officer of Tesco. com and Tesco Direct. Ms. Wade-Ger y also held various roles at Gemini Consulting and Kleinwor t Benson. She has also been a Non Executive Director at Trinity Mirror since 2006. Amanda Mellor Board: Executive Board Job Title: Group Secretary and Head of Corporate Governance Ms. Mellor is the Group Secretary and Head of Cor porate Governance at Marks and Spencer Group. She joined the company in 2004 as the Head of Investor Relations. Ms. Mellor spent her early career in investment management at James Capel before becoming a Director within its Corporate Finance team. She then served at Rober t Fleming, Investment Banking prior to joining The Bur ton Group as the Director of Cor porate Relations and Investor Relations. Robert Swannell Board: Non Executive Board Job Title: Chairman of the Board Marks and Spencer Group plc  © MarketLine Page 11 Marks and Spencer Group plc Key Employee Biographies Since: 2011 Mr. Swannell has been the Chairman of the Board at Marks and Spencer Group since 2011. He joined the company in 2010 as a Non Executive Director. Prior to this, Mr. Swannell was a Senior Independent Director at The British Land Company, and 3i Group. He spent over 30 years in investment banking at Schroders/Citigroup. Mr. Swannell was previously the Vice Chairman at Citi Europe and Co-Chairman at Citi’s European Investment Bank. Vindi Banga Board: Non Executive Board Job Title: Director Since: 2011 Mr. Banga has been a Director at Marks and Spencer Group since 2011. He is currently a Par tner at Clayton Dubilier ; Rice, a private equity investment firm. Prior to this, Mr. Banga spent 33 years at Unilever, where he held several senior positions, including President of the Global Foods, Home and Personal Care businesses, and was a member of the Unilever Executive Board. He also serves as a Non Executive Director at Thomson Reuters and Maruti Suzuki India. Miranda Curtis Board: Non Executive Board Job Title: Director Since: 2012 Ms. Cur tis has been a Director at Marks and Spencer Group since February 2012. She is currently the Chairman at Waterstones, and a Non Executive Director at Liber ty Global. Ms. Cur tis has also been a Non Executive Director at National Express Group since 2008. She also serves on the Boards of the Institute for Government, the Royal Shakespeare Company, and Camfed (the leading African girls’ education charity). Jeremy Darroch Board: Non Executive Board Job Title: Director Since: 2006 Mr. Darroch has been a Director at Marks and Spencer Group since 2006. He also ser ves as the Chief Executive at British Sky Broadcasting. Previously, Mr. Darroch ser ved as the Chief Financial Officer at British Sky Broadcasting. Prior to this, he was the Group Finance Director and Retail Finance Director at Dixons Retail (formerly DSG International). Marks and Spencer Group plc MarketLine Page 12 Marks and Spencer Group plc Key Employee Biographies Steven Holliday Board: Non Executive Board Job Title: Director Since: 2004 Mr. Holliday has been a Director at Marks and Spencer Group since 2004. He is the Group Chief Executive Officer at National Grid. Prior to that, Mr. Holliday served as the Director of UK and Europe and was responsible for the UK Elect ricity and Gas businesses. He is also the Chairman of the UK Business Council for Sustainable Energy. Prior to joining National Grid, Mr. Holliday was an Executive Director at British Borneo Oil and Gas. Previously, he held several senior positions at Exxon Group. Martha Lane Fox Board: Non Executive Board Job Title: Director Since: 2007 Ms. Fox has been a Director at Marks and Spencer Group since 2007. She is the UK’s Digital Champion, the Chairman of Race Online 2012, and a Non Executive Director at Channel 4 Television. Ms. Fox is founder and Chairman of Lucky Voice, and of her own grant-giving foundation, Antigone. She was co-founder of lastminute. com. Jan du Plessis Board: Non Executive Board Job Title: Director Since: 2008 Mr. du Plessis has been a Director at Marks and Spencer Group since 2008. He is the Chairman at Rio Tinto. Previously, Mr. du Plessis was the Chairman at British American Tobacco and a Non Executive Director at Lloyds Banking Group. He also ser ved as the Chairman at RHM from 2005 to 2007. Mr. du Plessis was previously the Group Finance Director at Richemont, a position he held until 2004. Clem Constantine Board: Senior Management Job Title: Director, Proper ty Mr. Constantine is the Director, Proper ty at Marks and Spencer Group. He joined the company in 2006. Mr. Constantine was appointed the Group Proper ty and Retail Planning Director at Arcadia Group in 1999. He was appointed to his first finance directorship in 1993, for the IS brand at the Marks and Spencer Group plc  © MarketLine Page 13 Marks and Spencer Group plc Key Employee Biographies Bur ton Group, and moved through several other finance directorships with variable responsibilities including systems and retail. Mr. Constantine was trained as a Char tered Accountant at Stoy Hayward, and joined Debenhams in 1989 as a Financial Analyst. Tanith Dodge Board: Senior Management Job Title: Director, Human Resources Since: 2008 Ms. Dodge has been the Director, Human Resources at Marks and Spencer Group since 2008. She was formerly the Group Human Resources Director at WH Smith since 2003. At WH Smith, Ms. Dodge was also responsible for Public Relations, Communications and Post Office Operations. Prior to this, she was the Senior Vice President Human Resources for Europe, Middle East and Africa (EMEA) at InterContinental Hotels Group. Ms. Dodge also served as the Human Resources Director at Diageo’s two business divisions. She was also the International Human Resources Manager at Prudential Corporation. Dominic Fry Board: Senior Management Job Title: Director, Communications and Investor Relations Mr. Fry is the Director, Communications and Investor Relations at Marks and Spencer Group. He joined the company in 2009. Prior to this, Mr. Fr y ser ved at Tulchan Communications. In 1996, he was appointed the Communications Director at J Sainsbury and ser ved in the same role at ScottishPower from 2000 to 2005. In 1989, Mr. Fr y became the Communications Director at AT&T in the UK before moving from there to head up communications at the Channel Tunnel in the mid ’90s. He star ted his career in 1982 working in PR consultancy at Traverse-Healy ; Regester and then Charles Barker. Jan Heere Board: Senior Management Job Title: Director, International Since: 2011 Mr. Heere has been the Director, International at Marks and Spencer Group since 2011. He joined Inditex in 2002 where he held a several international roles, most recently as General Manager for Inditex Russia. During 2000–02, Mr. Heere held various senior management roles at Zara, Groupo Inmobiliario Lupaco, and Charanga. He began his career at Manpower in Spain in 1997. Nayna McIntosh Marks and Spencer Group plc  © MarketLine Page 14 Marks and Spencer Group plc Key Employee Biographies Board: Senior Management Job Title: Director, Store Marketing and Design Ms. McIntosh is the Director, Store Marketing and Design at Marks and Spencer Group. She joined the company in 2005. Prior to this, Ms. McIntosh was par t of the Management Team that set up the per una brand in 2001. Previously, she served as the Sales and Marketing Director for the George brand at Asda stores. Before joining George, Ms. McIntosh was at Next for four years as a Divisional Executive for the South of England. Steve Rowe Board: Senior Management Job Title: Director, Retail Since: 2008 Mr. Rowe has been the Director, Retail at Marks and Spencer Group since 2008. He joined the company in 1989 and held a variety of positions in store management, having previously worked at Topshop as a Store Manager. Mr. Rowe joined Head Office in 1992 as a Merchandiser for Menswear. In 1998, he was promoted to Category Manager in the Furniture Depar tment. In 2001, Mr. Rowe led the team developing the Home Growth Strategy, working with McKinsey Consultants, and became Head of Home categories in 2003. He was promoted to the Director of Home a year later in 2004. From 2004 to 2008, Mr. Rowe was also responsible for Beauty and New Business Development. Darrell Stein Board: Senior Management Job Title: Director, Information Technology and Logistics Mr. Stein is the Director, Information Technology and Logistics at Marks and Spencer Group. He has been working in IT for 17 years star ting his career at the company in 1990. Mr. Stein re-joined M;S in 2006 as the IT Director. From 2001 to 2006, he ser ved at Vodafone, becoming IT Director for Vodafone UK in 2004. Prior to this, Mr. Stein was Vodafone’s UK Network Director and Global IT Strategy and Architecture Director. From 1996 to 2001, he ser ved at Ernst & Young, leading a number of major IT and Change Programmes in the financial services, retail and utility sectors. In 1994, Mr. Stein joined Mars as a Project Manager. Marks and Spencer Group plc  © MarketLine Page 15 Marks and Spencer Group plc Major Products and Services MAJOR PRODUCTS AND SERVICES M&S is one of the leading retailers of clothing, foods and homeware in the UK. The company’s key products and services include the following: Products: Women’s wear Men’s wear Lingerie Children’s wear Footwear Food and grocery items Homeware and home accessories Kitchen and tableware Lighting Furniture products Services: Credit cards Car, home, travel, and pet insurance Personal loans Brands: Autograph Limited Collection Collezione Blue Harbour Girls Boutique Per Una Ceriso Adored Truly you Marks and Spencer Group plc  © MarketLine Page 16 Marks and Spencer Group plc Revenue Analysis REVENUE ANALYSIS Overview The company recorded revenues of ? 9,740. 3 million (approximately $15,158. 8 million) in FY2011, an increase of 2. 1% over FY2010. For FY2011, the UK, the company’s largest geographic market, accounted for 89. 7% of the total revenues. M;S generates revenues through two business divisions: food (51. 5%% of the total revenues in FY2011), and general merchandise (48. 5%). Revenues by division* During FY2011, the food division recorded revenues of ? 4,499. 4 million (approximately $7,002. 4 million), an increase of 1. 9% over FY2010. The general merchandise division recorded revenues of ? 4,233. 6 million (approximately $6,588. 8 million) in FY2011, an increase of 2% over FY2010. *The revenue breakdown by division is only for the revenues from the UK market. Revenues by geography The UK, M;S’ largest geographical market, accounted for 89. % of the total revenues in FY2011. Revenues from the UK reached ? 8,733 million (approximately $13,591. 2 million) in FY2011, an increase of 1. 9% over FY2010. International operations accounted for 10. 3% of the total revenues in FY2011. Revenues from international operations reached ? 1,007. 3 million (approximately $1,567. 7 million) in FY2011, an increase of 4% over FY2010 . Marks and Spencer Group plc  © MarketLine Page 17 Marks and Spencer Group plc SWOT Analysis SWOT ANALYSIS M&S is one of the leading retailers of clothing, foods and homeware in the UK. The company has expanded its food product offering significantly in the recent years. New products launches, focus on expanding healthy products, promotions, and competitive prices are all helping the company attract customers in a highly competitive market. However, surge in shoplifting could negatively impact the cost structure for M&S. Strengths Weaknesses Expanding food offering Strong market position in the clothing segment Geographical expansion to increase the addressable market and reduce vulnerability to mature UK market M&S etched a highly effective CSR strategy M&S legacy stores and systems are a ompetitive disadvantage Declining general merchandise division sales due to inadequate stocking Opportunities Threats Online channel continues to boom and will enable M&S to boost revenues Focus on China and India can lead to expansion in two of the fastest growing markets Surge in shoplifting losses costs the retailers and customers Weak consumer spending in the UK Rising labor c ost in the UK Strengths Expanded food offering The company has expanded its food product offering significantly in the recent years. In 2009, M&S consistently highlighted it is cheaper than Waitrose on a basket of 1,200 items by about 2%. The company, in 2009, decided to invest in its margins in order to provide its customers better value. As a result of this, M&S saw improved perceptions of value by its customers. The company, in FY2011, launched around 1,800 new products in food and positioned itself as the UK’s leading high quality food retailer. The key product launches of the company include Taste Italia, and Made Without Wheat range of gluten-free bread and cakes, With the success of Made Without Wheat product range, the company launched gluten-free sandwiches, sausages, stuffing, and crisp bakes. As of FY2011, the company offered 125 gluten-free products. M&S also became the UK’s second largest favorite health food brand with the launch of its Simply Fuller Longer range which encourages customers to manage their weight with a menu plan. The gross margin of food division increased by 20 basis points to Marks and Spencer Group plc  © MarketLine Page 18 Marks and Spencer Group plc SWOT Analysis 30. 8% in FY2011. This was mainly driven by better management of promotions and waste. Fur ther, in the four th quar ter of FY2012 ended March 2012, M&S launched 500 new products in the food division. The sales in this quar ter increased by 3. 1%, The company’s promotions such as roast dinner for ? 5 ($7. 8), Dine In, etc offered its customers with great value solutions for special occasions. M&S’ food division has been performing well in a ver y competitive market and against tough competitors. By launching innovative products and with an expanded food offering, the company has been able to attract the customers in a highly competitive market. Strong market position in the clothing segment M&S has a strong market position in the clothing segment. With more than one in 10 clothing items bought from M&S, the company ranks amongst the three largest clothing retailers in the UK. According to a repor t released by Verdict (Datamonitor’s retail arm) in May 2012, M;S is known for its product quality. The company was ranked first with a score of 49 for its product quality above the market average of 23. According to another repor t released by Verdict in April 2012, M;S enjoys highest conversion rate of 50. 7% and is very successful in conver ting visitors to loyal main users through its varied product offer, in-store service and garment quality. This indicates that M;S is a trustwor thy brand, which all main users would return to knowing that the quality, fit, and ser vice are reliable and consistent. The retailer has recognized that its core market of predominantly mature customers has been especially hard hit by rising core costs of living, falling interest on savings and worse prospects for pensions, and in reaction has lowered its entr y prices to compete more effectively with high street/value operators and supermarkets, helping to maintain the loyalty of its main users and prevent them from shopping elsewhere. Verdict, in its repor t in March 2012, ranked, M;S seventh in the global depar tment store market with a share of 3. 2%. This market leadership enabled M;S to excel throughout the economic downturn, while other mid-market retailers are pressured from the ever expanding value players. Leading market position indicates access to a large customer base and also popularity of M;S’ offering in the clothing segment. Going forward, this market position would enable the company to drive revenues as consumer spending recovers. Geographical expansion to increase the addressable market and reduce vulnerability to mature UK market With a por tfolio of over 361 owned and franchised stores in 42 territories M&S continues to grow its international business. This mix of ownership models and countries enabled the company to perform well in FY2011, even when individual markets were weak. Fur ther, during FY2011, the company entered the Egyptian market with a 28,000 square feet store in the Dandy Mega Mall in Cairo. M&S’ international business grew by 4% in FY2011 despite tough economic situation. As an established retailer in a mature market, it is going to be hard for M;S to continually deliver significant increases in UK sales. However, in the long run, its international business offers an oppor tunity for high growth. By generating much higher volumes, it can deliver margin benefits with suppliers. With production costs rising, this will be an advantage in the UK. International expansion will enable the company to access multiple sales points for most of the product ranges. This is especially relevant for clothing and homewares segments. Also, through expansion in the international markets M;S can reduce Marks and Spencer Group plc  © MarketLine Page 19 Marks and Spencer Group plc SWOT Analysis vulnerability to mature UK market. The company can also par ticipate effectively in some of highest growing markets such as China and India. All these factors would enable the company to reduce the overall business risk and facilitate increased revenues. M;S etched a highly effective CSR strategy M;S has to its credit an effective corporate social responsibility (CSR) strategy. CSR has been gaining prominence not just among the stake holders and governments but the consumers as well. The company has the highest propor tion of consumers believing it to be a responsible retailer and this can largely be attributed to the success of its Plan A, a ? 200 million (approximately $320. 3 million) 100-point plan launched in 2007 with five areas of focus: climate change, fair par tnership, health, sustainable raw materials, and waste. In FY2011, the company included two more areas in its Plan A: involving customers, and making Plan A how we do business. In the last few years, initiatives launched under the Plan A banner include launching the company’s first eco-store, encouraging suppliers to set-up eco-factories, removing hydrogenated fats from its ready meals, increasing the propor tion of organic food, reducing the salt content of its produce, cer tifying a larger percentage of its fish as originating from sustainable populations, and beginning to sell recycling and composting bins. It is the high profile presence of Plan A in adver tising campaigns, product labeling and store signage that gives M&S one of the best consumer perceptions of a retailer for social responsibility. The campaign works not just as a direct to consumer channel, but also because of the positive coverage it creates. Perhaps more impor tantly, it has publicized all of these initiatives extensively. In 2008, M&S launched a TV adver tising campaign focusing on its ethical, environmental and health-conscious credentials, highlighting that it only uses free range eggs and that its products are now free from ar tificial colors and flavorings. Other, more innovative, ideas have included a joint venture with Oxfam to promote the recycling of old clothes. In addition, more controversially, the retailer introduced a 5p charge for carrier bags at all of its food depar tments in 2008. Though many consumers resented this charge, it has undoubtedly boosted M&S’ reputation as an ethical retailer. Overall, sculpting its CSR strategy into such a high publicity campaign, divided into such clear action points and highly visible benefits, has seen the company move to the forefront of responsible retailing. In FY2011, the company launched Indigo Green, its first range of clothing made using more sustainable fabrics. In April 2012, the company announced to accept secondhand clothes at all the UK outlets except Simply Food stores, to recycle them into other fabrics or to reuse them in order to cut waste. Plan A has seen CSR become core to M;S’ principles in the eyes of the consumer and it has reaped the benefits of this, gaining shoppers as a result and repor tedly saving more than ? 70 million (approximately $108. 9 million) in efficiencies gained in FY2011 compared with ? 50 million (approximately $77. 8 million) in FY2010. In addition, M&S improved energy efficiency in its stores by 23% and warehouses by 24% in FY2011 compared to FY2007. It also improved the fuel efficiency of its deliver y fleets by 20% and total carbon emissions have been reduced by 13%. The company now recycles 94% of all the waste it generates from its stores, offices and warehouses. The total waste is down by more than a third. M&S also met its sustainable standards by sourcing 90% of wild fish in FY2011 (62% in FY2010) and 76% of wood in FY2011 (72% in FY2010). Marks and Spencer Group plc  © MarketLine Page 20 Marks and Spencer Group plc SWOT Analysis By actively promoting a product’s greener attributes (for example fewer, more recognizable and natural ingredients), retailers such as M;S have positioned products as improving one’s personal environment while benefiting the global environment too. Many of their successes have come from emphasizing the former rather than the latter, especially as consumers often associate ethics with a sense of wellbeing. In terms of the issues that concern consumers, the sustainability of natural resources is a major fear, as are climate change and the fairness of sourcing arrangements. Consumers are also attracted to products with health benefits and there is a clear trend that consumers can be persuaded to par t with more money in return for products with a positive impact, not just to them personally, but also to wider society. Indeed, differentiating between products becomes harder and harder to achieve, Verdict expects consumers to turn to auxiliary considerations such as ethicality and sustainability to guide their choices. Consumers are no longer purely satisfied with how a product looks and functions; they want assurances over aspects such as nvironmental impact, hygiene, safety, and fairness. In light of the above mentioned trends where the customer choices are increasingly guided by the sustainability issues, M&S will benefit due to its reputation of being a responsible retailer. Weaknesses M&S legacy stores and systems are a competitive disadvantage M&S suffers some competitive disadvantages compared to Tesco, which has been able to drive earnings before interest and tax (EBIT) growth even in the mature UK market. Tesco benefits from supplier power and state-of-the-ar t IT, supply chain and systems compared with M&S legacy systems. The supermarket retailer has been able to break up the demand cur ve with metro, express and big box store formats out of town and on the high street. Moreover, Tesco stores have been carefully designed with consistent store layouts in order to facilitate store navigation. Extra back room store space has also been allocated to allow for smooth execution of its picking and distribution model. Tesco sells both own label and branded goods (food and non-food) in a bid to drive up footfall and sales conversion. M&S legacy stores are inconsistent in terms of layout. Store size tends to dictate product availability, while a lack of back room store space does not facilitate the same style supermarket pick and delivery model. The legacy systems and stores of M&S are constraining effective servicing of customer demands on a consistent basis. This is placing the company at a clear competitive disadvantage compared to a formidable opponent, Tesco. Declining general merchandise division sales due to inadequate stocking The company’s general merchandise division sales declined in recent times, M&S’ general merchandise division sales decreased by 2. % in the four th quar ter of FY2012 ended March 2012. This was mainly due to shor tage of stock in its stores, Due to this, the company was also not able to meet customer demand for 300,000 knitwear garments under the M&S Woman label. It only sold Marks and Spencer Group plc  © MarketLine Page 21 Marks and Spencer Group plc SWOT Analysis 100,000 knitwear garments during this period. Fur ther, in times of high demand, inadequate stock could hamper the sales of the division and result in loss of sales to competitors. This not only affects the revenues of the company but could also result in shift of customers to its competitors. Opportunities Online channel continues to boom and will enable M&S to boost revenues Online retail sales in the UK have grown significantly over a period of time. According to Office for National Statistics, non-seasonally adjusted average weekly value for internet retail sales in the UK was ? 414 million (approximately $644. 3 million) in Februar y 2010, this increased to ? 573. 6 million (approximately $892. 7 million) in February 2012, representing an increase of 18%. Internet sales accounted for only 8% of the total retail sales (excluding fuel) in Februar y 2010. This figure increased to 10. 7% in February 2012. The growing desire for convenience is seeing shoppers buy more online, especially in the category of food and grocery. Consumers have also become savvier, using the internet more to get the best deal they can. Voucher codes, and cashback sites have been instrumental in this. Additionally, improved deliver y and fulfillment options have been encouraging consumers to shop more online. The company operates in the internet channel through M&S Direct where the products are offered through website and newly launched ‘Shop Your Way’ facility, a new ordering service that has been rolled-out in 444 stores (including 151 in Simply Foods stores) during FY2011, allowing customers to place orders either in stores, online or over the phone, for deliver y to either a nominated address or free of charge to their nearest store. M&S Direct’s sales increased from ? 413 million (approximately $642. 8 million) in FY2010 to ? 543 million (approximately $845. million) in FY2011, an increase of 31. 5%. Fur ther, in the first half of FY2012, M&S Direct’s sales increased by 11. 7% with more than three million visitors per week. Thus, by leveraging its online presence, M&S can cater to the requirements of a growing number of customers who are looking for convenience and better deals over the internet. Focus on China and India can lead to expansion in two of the fastest growing markets China and India are two economies which are recording highest growth rates which, in turn, are expected to aid the retail market growth in these two countries. Asia’s retail sales are estimated to increase with China driving the growth. According to the preliminary estimation, the gross domestic product (GDP) of China was CNY47,156. 4 billion ($7,285. 7 billion) in 2011, a year-on-year increase of 9. 2% at comparable prices. The fast pace economic development in China coupled with the rise of the middle class income group and their increasing disposable income have fur ther pushed up the demand for several consumer goods. According to National Bureau of Statistics of China, the total retail sales reached CNY18,391. 9 billion (approximately $2,841. billion) in 2011, representing a year-on-year nominal growth rate of 17. 1%. Fur ther, according to industr y estimates, the countr y’s total retail sales are expected to increase from approximately CNY20 trillion ($3 trillion) in 2012 to approximately CNY26 trillion ($4 trillion) in 2016, representing an increase of about 30%. Strong Marks and Spencer Group plc  © MarketLine Page 22 Marks and Spencer Group plc SWOT Analysis underlying economic trends, population growth and the increasing wealth of individuals are key factors that contribute to the retail market expansion in China. The retail industry in India is large owing to a large population and is set to grow as several factors contribute. According to the industry sources, the retail sales in India are forecast to grow from around $411 billion in 2011 to $804 billion by 2015. The key factors behind the forecast growth include strong underlying economic growth, population expansion, increasing wealth of individuals and the rapid construction of organized retail infrastructure. Also, as middle and upper class consumer base expands, there will also be oppor tunities in India’s second and third-tier cities. The greater availability of personal credit and a growing vehicle population are to improve mobility which will also contribute to a trend towards retail sales growth. M;S is strengthening presence in India and China as par t of its geographic expansion and for some time to come, these countries would be the key contributors to the company’s international expansion strategies. The company in with par tnership with Reliance Retail, an established retailer in India, can tap into this lucrative market while expansion in China also continues. Indian and Chinese markets would provide a huge potential revenue base for M&S. Threats Surge in shoplifting losses costs the retailers and customers The UK retailers are exposed to increased costs of shoplifting. Shoplifting has assumed massive propor tions in recent times. According to industry estimates, retail crime costed UK stores ? 1. 4 billion ($2. 2 billion) in 2011. There are about two million thefts per year, which concludes to an average of more than one per minute. According to another industr y repor t, the thefts across the UK stores increased from ? 4. 2 million ($6. 5 million) in 2009 to ? 5. 1 million ($7. 9 million) in 2011, an increase of 20%. Long-term trends also show the figure is likely to continue rising. As a result, retailers have been increasing their surveillance spend. This is increasing the costs for retailers as well as for the end consumers. The shoplifting losses are adding to the costs for the retailers and the customers have also been bearing the brunt. The surge in shoplifting could negatively impact the cost structure for M&S as well. Weak consumer spending in the UK The UK market is suffering from weak consumer spending. The European debt crisis added more downward pressure to the growth prospects of the UK. According to Eurostat, the UK economy grew by 0. 7% in 2011 and is expected to grow by 0. 5% in 2012. In addition, the UK has witnessed high unemployment rate. According to the Office of National Statistics, the unemployment rate for the three months period November 2011 to January 2012 was 8. 4% with 2. 67 million unemployed people in the UK. Increasing unemployment rate is expected to fur ther put pressure on the economy of the UK. High inflation, led by the increase in VAT to 20% and public spending cuts reduced disposable Marks and Spencer Group plc MarketLine Page 23 Marks and Spencer Group plc SWOT Analysis income, leading to a fall in consumer spending on discretionary items. Consumers have been cautious with their spending especially due to soaring petrol prices, tax increases and uncer tainty over jobs. The UK is the key market for M&S. In FY2011, the UK accounted for 89. 7% of M&S’ total revenues. Thus, the sluggish consumer spending and high unemployment rate in the UK could affect most of the non-food retailers and lead to reduced sales volume or shrinking profit margins. Rising labor cost in the UK Labor costs are rising in the UK. In recent times, tight labor markets, increased over time, government mandated increases in minimum wages and a higher propor tion of full-time employees are resulting in an increase in labor costs, which could materially impact the company’s results of operation. The National Minimum Wage (NMW) Regulations came into force in 1999 and since then the NMW rates have been increased annually. The national minimum wage increased from ? 5. 93 per hour ($9. 23 per hour) in October 2010 to ? 6. 08 per hour ($9. 46 per hour) in October 2011. Fur ther, the national minimum wage is expected to increase to ? 6. 19 per hour (9. 63 per hour) from October 2012. In FY2011, M&S employed 78,169 people. Increasing labor costs can adversely affect the company’s operating costs as its wage bills would escalate. This, in turn, could impact its margins adversely. Marks and Spencer Group plc  © MarketLine Page 24 Marks and Spencer Group plc Top Competitors TOP COMPETITORS The following companies are the major competitors of Marks and Spencer Group plc ASDA Group Limited Debenhams plc H ; M Hennes ; Mauritz AB J Sainsbury plc NEXT plc Selfridges plc Tesco PLC Gap, Inc. , The French Connection Group Plc House of Fraser Group Plc John Lewis Par tnership plc Arcadia Group Limited Home Retail Group Plc Marks and Spencer Group plc  © MarketLine Page 25 Marks and Spencer Group plc Company View COMPANY VIEW A statement by Rober t Swannell, the Chairman of the Board at Marks and Spencer Group, is given below. The statement has been taken from the company’s Annual Repor t for FY2011. I feel ver y privileged to be Chairman of this unique company and at such an exciting time in our evolution. Since joining Marks ; Spencer in October and assuming the role of Chairman in Januar y, I have spent much of my time getting to know the business better – meeting our employees, shareholders, customers and suppliers. I first became deeply involved with M;S during the unsolicited takeover attempt in 2004, when I led the advisory team that helped put the M;S case to its shareholders. It was then I learned first hand about this unique company: about the extraordinarily strong relationship it has with its many stakeholders and about its very special ethos. This ethos is a reflection of the high standards our customers expect from M;S – trusting us not only to deliver great value, great quality products but also to do the right thing – socially, environmentally and ethically. We know that putting Plan A at the hear t of how we do business is not just the right thing to do; it is also fundamental to our long-term success. Performance In a challenging marketplace M;S has continued to grow, with underlying profits up 12. 9% on the year. We delivered this by staying true to our heritage of quality and innovation, reminding our customers what makes M;S special. This year Marc Bolland set out a clear medium-term plan for the business, after extensive discussions with colleagues and us, the Board. This is covered in detail in Marc’s review. From day one, I have been struck by the passion and commitment of our people. I am delighted that this year we are paying a bonus to all employees to thank them for their energy and enthusiasm in what has been a difficult trading environment. Dividend We are committed to delivering consistent returns for our shareholders. To this end we have adopted a progressive dividend policy, with dividends broadly covered twice by earnings. We intend to pay a final dividend of 10. 8p per share (last year 9. 5p) in respect of the 2010/11 financial year. Governance Marks and Spencer Group plc  © MarketLine Page 26 Marks and Spencer Group plc Company View This year we returned to the traditional governance structure of a separate Chairman and Chief Executive, providing clarity between Marc Bolland and me, with regard to our respective roles. Put simply, I run the Board and Marc runs the business. The Board has a wide range of responsibilities. There are three that I think are par ticularly impor tant for the success of the business: first, to debate and agree our strategy and hold the executive team accountable for its execution; second, to ensure that we have the most talented team to execute this strategy and that we plan effectively for succession; and third, to set the tone for governance, which is par ticularly impor tant at M;S where ‘doing the right thing’ is an integral par t of our ethos. My ob is to ensure the Board has the right mix of skills and talents and to ensure that it works effectively as a team towards shared goals with the right mix of enquir y and suppor t of the executive directors from the non-executive directors. During the year we commissioned a formal Board evaluation from an independent consultant, the findings of which are outlined in the Governance section. This process highligh ted the real enthusiasm of the directors in suppor ting a shared ambition: to guide M;S to the ver y best future. We know that you expect high standards from M;S; it’s our responsibility to learn how we can improve. This review was an impor tant par t of that journey. As stated in our 2009/10 Annual Repor t, we reviewed the senior remuneration structure this year. Following extensive shareholder consultation, we believe we now have a framework that is both relevant to today’s M;S and fully aligned with our strategy. The Board Over the last year the Board has been strengthened by a series of executive appointments. In May 2010 Marc Bolland joined the business as Chief Executive, assuming the day-to-day running of the business from Sir Stuar t Rose in July. In October Alan Stewar t joined as Chief Finance Officer and in February we announced the appointment of Laura Wade-Gery as Executive Director, Multi-channel E-commerce; she will join the Board in July. Whilst the Board features some new faces, these changes have taken place around a core of executive and non-executive directors that has remained stable over recent years. I would like to pay par ticular tribute to Sir Stuar t Rose. When he became Chief Executive in 2004, M;S was at a low ebb. He restored confidence in M;S, re-established its values and built a strong business. The solid platform from which Marc is now implementing his plan is a credit to Stuar t’s energy and tireless commitment to M;S over the last seven years. The smooth management transition – the meticulous handover to me and the suppor t of Marc – is also a credit to Stuar t. In that connection, I would also like to thank Sir David Michels, and the Nominations ; Governance Committee he led, for managing a change of leadership over the past year that was accomplished quietly and effectively. David has decided to step down from the Board at the end of his second term in February 2012, but I am delighted that he will continue his role as Deputy Chairman until then. Marks and Spencer Group plc  © MarketLine Page 27 Marks and Spencer Group plc Company View I must also thank Louise Patten for the significant contribution she has made over the last five years, playing an impor tant role in each of our Board Committees. As Louise reaches the end of her second three year term on the Board, she has decided not to seek re-election at the upcoming AGM. Looking ahead Our priorities for the year ahead are clear. We have a plan and it is now our collective job to make it happen. The Board will concentrate on delivering exemplary governance at the highest level to enable our executive team to drive this strategy forward. The economy still gives us reason to be cautious. Yet in difficult times, our core values of Quality, Value, Ser vice, Innovation and Trust matter more than ever to M;S customers. These values remain at the hear t of our strategy and I therefore look forward to the future with confidence. Marks and Spencer Group plc  © MarketLine Page 28 Marks and Spencer Group plc Locations and Subsidiaries LOCATIONS AND SUBSIDIARIES Head Office Marks and Spencer Group plc Waterside House 35 Nor th Wharf Road London W2 1NW GBR P:44 20 7935 4422 http://www. marksandspencer. com Other Locations and Subsidiaries Marks and Spencer International Holdings Limited Great Britain GBR Marks and Spencer (Nederland) BV NLD Marks and Spencer (Ireland) Limited IRL Marks and Spencer (Asia Pacific) Limited HKG Marks and Spencer Simply Foods Limited Great Britain GBR Marks and Spencer Marinopoulos Greece SA GRC Marks and Spencer SCM Limited