Ethical Leadership in Organizations Essay Example for Free

Ethical Leadership in Organizations Essay Ethical leadership is leadership that is involved in leading in a manner that respects the rights and dignity of others. As leaders are by nature in a position of social power, ethical leadership focuses on how leaders use their social power in the decisions they make, actions they engage in and ways they influence others. Leaders who are ethical demonstrate a level of integrity that is important for stimulating a sense of leader trustworthiness, which is important for followers to accept the vision of the leader. Leaders who are ethical are people-oriented, and also aware of how their decisions impact others, and use their social power to serve the greater good instead of self-serving interests. Motivating followers to put the needs or interests of the group ahead of their own is another quality of ethical leaders. Motivating involves engaging others in an intellectual and emotional commitment between leaders and followers that makes both parties equally responsible in the pursuit of a common goal. Ethical leadership falls within the nexus of inspiring, stimulating, and visionary leader behaviours that make up transformational and charismatic leadership. Ethical leaders assist followers in gaining a sense of personal competence that allows them to be self-sufficient by encouraging and empowering them. What is Ethical Leadership? One typical response to the â€Å"ethics crisis† in business is a clarion call for more â€Å"ethical leadership,† yet there are few explanations of what exactly is meant by the term. Many executives and business thinkers believe that ethical leadership is simply a matter of leaders having good character. By having â€Å"the right values† or being a person of â€Å"strong character,† the ethical leader can set the example for others and withstand any temptations that may occur along the way. Without denying the importance of good character and the right values, the reality of ethical leadership is far more complex and the stakes are much higher. Over the past 25 years, in talking to executives in a number of industries about the problems of how to lead in a world of great change—globalization, democratization, and incredible technological advances—we have identified a number of touchstones for the idea of â€Å"ethical leadership.† Our experience is often contrary to the picture of business executives one finds in public discussion where they are often seen as greedy, competitive, and only concerned with compensation. In fact most executives want to be effective in their jobs and to leave their companies and the world a better place, creating value on both fronts for those whose lives they affect. Our view of ethical leadership takes into account not only the leader but also his constituents (followers and key stakeholders), the context or situation that the leader and constituents face, the leader’s processes and skills, and the outcomes that result. Leaders are first and foremost members of their own organizations and stakeholder groups. As such, their purpose, vision, and values are for the benefit of the entire organization and its key stakeholders. â€Å"Leaders see their constituents as not just followers, but rather as stakeholders striving to achieve that same common purpose, vision, and values. These follower and stakeholder constituents have their own individuality and autonomy which must be respected to maintain a moral community.† Ethical leaders embody the purpose, vision, and values of the organization and of the constituents, within an understanding of ethical ideals. They connect the goals of the organization with that of the internal employees and external stakeholders. Leaders work to create an open, two-way conversation, thereby maintaining a charitable understanding of different views, values, and constituents’ opinions. They are open to others’ opinions and ideas because they know those ideas make the organization they are leading better. Characteristics of Ethical Leaders In today’s turbulent world, ethics and values are present at a number of levels for executives and managers—leaders who devote their time and energy to leading the process of value creation. This broader concept of ethical leadership empowers leaders to incorporate and be explicit about their own values and ethics. The following list provides a framework for developing ethical leadership. It is based on the observations of and conversations with a host of executives and students over the past 25 years, and on readings of both popular and scholarly business literature. Written from the perspective of the leader, these ten facets of ethical leaders offer a way to understand ethical leadership that is more complex and more useful than just a matter of â€Å"good character and values.† â€Å"It is important for leaders to tell a compelling and morally rich story, but ethical leaders must also embody and live the story. This is a difficult task in today’s business environment where everyone lives in a fishbowl—on public display. So many political leaders fail to embody the high-minded stories they tell at election time, and more recently, business leaders have become the focus of similar criticism through the revelations of numerous scandals and bad behaviours. CEOs in today’s corporations are really ethical role models for all of society.† 1. Articulate and embody the purpose and values of the organization. Following a series of unethical activities by Citigroup employees in Japan in 2004, new CEO Chuck Prince fired several executives, publicly accepted responsibility and bowed apologetically to Japanese officials. Not only did Prince’s message resonate within Japan, but it also signalled a new era of â€Å"shared responsibility† within the culture of Citigroup where every employee was expected to take ownership for their decisions that affected the enterprise. 2. Focus on organizational success rather than on personal ego. Ethical leaders understand their place within the larger network of constituents and stakeholders. It is not about the leader as an individual, it is about something bigger—the goals and dreams of the organization. Ethical leaders also recognize that value is in the success of people in the organization. In 1998, in a bold gesture demonstrating how he valued the company’s line employees, Roger Enrico, former Chairman and CEO of PepsiCo, chose to forego all but $1 of his salary, requesting that PepsiCo, in turn, contribute $1 million to a scholarship fund for employees’ children. In a similar manner, the founders of JetBlue began a process of matching, from their salaries, employee donations to a charity. Today, their entire salaries go to the JetBlue Crewmember Catastrophic Plan charity, to assist staff with crises not covered by insurance. The point of these examples is not that ethical leaders donate their salaries to charities, but rather that ethical leaders identify and act on levers, such as employee loyalty, that drive organizational success. 3. Find the best people and develop them. This task is fairly standard in different models of leadership. Ethical leaders pay special attention to finding and developing the best people precisely because they see it as a moral imperative—helping them to lead better lives that create more value for themselves and for others. Finding the best people involves taking ethics and character into account in the selection process. â€Å"Ethical leaders pay special attention to finding and developing the best people† Many CEOs have said to us that judging someone’s integrity is far more important than evaluating their experience and skills. Yet, in many organizations, employees are hired to fill a particular skill need with little regard to issues of integrity. 4. Create a living conversation about ethics, values and the creation of value for stakeholders. Too often business executives think that having a laminated â€Å"values card† in their wallet or having a purely compliance approach to ethics has solved the â€Å"ethics problem.† Suffice it to say that Enron and other troubled companies had these systems in place. What they didn’t have was a conversation across all levels of the business where the basics of value creation, stakeholder principles and societal expectations were routinely discussed and debated. There is a fallacy that values and ethics are the â€Å"soft, squishy† part of management. Nothing could be further from the truth. In organizations that have a live conversation about ethics and values, people hold each other responsible and accountable about whether they are really living the values. And, they expect the leaders of the organization to do the same. Bringing such a conversation to life means that people must have knowledge of alternatives, must choose every day to stay with the organization and its purpose because it is important and inspires them. Making a strong commitment to bringing this conversation to life is essential to do if one is to lead ethically. Most people know the story of Johnson and Johnson’s former CEO Jim Burke and the Tylenol product recall in the 1980s in which, at a great short-term financial cost, he pulled all potentially tampered-with products off the shelves, thereby keeping the public’s trust intact. The less well-known background to this story, however, is critical to understanding the final outcome. Well before the Tylenol crisis hit, Johnson Johnson had held a series of â€Å"challenge meetings† all around the world, where managers sat and debated their â€Å"Credo,† a statement of their purpose and principles of who they wanted to be as a company. The conversation about ethics at Johnson Johnson was alive, and in many ways made Jim Burke’s choice about handling the situation clearer than it otherwise would have been. 5. Create mechanisms of dispute. This needs to be made part of the organizational culture, not just a line item in a compliance program document. Some companies have used anonymous e-mail and telephone processes to give employees a way around the levels of management that inevitably spring up as barriers in large organizations. Many executives also have used â€Å"skip level† meetings where they go down multiple levels in the organization to get a more realistic view of what is actually going on. General Electric’s famous â€Å"workout† process—where workers meet to decide how to fix problems and make the company better—was a way for front line employees to push back against the established policies and authority of management. All of these processes lead to better decisions, more engaged employees, and an increased likelihood of avoiding damaging mistakes. In a company that takes its purpose or values seriously, there must be mechanisms of pushing back to avoid the values becoming stale and dead. Indeed, many of the current corporate scandals could have been prevented if only there were more creative ways for people to express their dissatisfaction with the actions of some of their leaders and others in the companies. The process of developing these mechanisms of dissent will vary by company, by leadership style, and by culture, but it is a crucial leadership task for value creation in today’s business world. 6. Take a charitable understanding of others’ values. Ethical leaders can understand why different people make different choices, but still have a strong grasp on what they would do and why. Following twenty-seven years in South African prisons, Nelson Mandela was still able to see the good in his jailers. After one particularly vicious jailer was being transferred away from Robbins Island because of Mandela’s protest and push back, the jailer turned to Mandela and stated â€Å"I just want to wish you people good luck.† Mandela interpreted this statement charitably as a sign that all people had some good within them, even those caught up in an evil system. Mandela felt that it was his responsibility to see this good in people and to try and bring it out. One CEO suggested that instead of seeing ethical leadership as preventing people from doing the wrong thing, we need to view it as enabling people to do the right thing. 7. Make tough calls while being imaginative. Ethical leaders inevitably have to make a lot of difficult decisions, from reorienting the company’s strategy and basic value proposition to making individual personnel decisions such as working with employees exiting the organization. Ethical leaders do not attempt to avoid difficult decisions by using an excuse of â€Å"I’m doing this for the business.† The ethical leader consistently unites â€Å"doing the right thing† and â€Å"doing the right thing for the business.† The idea that â€Å"ethical leadership† is just â€Å"being nice† is far from the truth. Often, exercising â€Å"moral imagination† is the most important task. Mohammed Yunus founded the Grameen Bank on such moral imagination. By taking the standard banking practice of only lending to people with collateral, and turning it on its head, Yunus spawned an industry of micro-lending to the poor. The Grameen Bank’s motto is that poverty belongs in a museum. In addition to having one of the highest loan repayment rates in the banking industry, the bank’s program of lending to poor women in Bangladesh to start businesses has helped millions of them to be able to feed themselves. 8. Know the limits of the values and ethical principles they live. All values have limits, particular spheres in which they do not work as well as others. The limits for certain values, for instance, may be related to the context or the audience in which they are being used. Ethical leaders have an acute sense of the limits of the values they live and are prepared with solid reasons to defend their chosen course of action. Problems can arise when managers do not understand the limits of certain values. As an example, one issue common to the recent business scandals was that managers and executives did not understand the limits of â€Å"putting shareholders first.† Attempts to artificially keep stock prices high—without creating any lasting value for customers and other stakeholders—can border on fanaticism rather than good judgment. Ethics is no different from any other part of our lives: there is no substitute for good judgment, sound advice, practical sense, and conversations with those affected by our actions. 9. Frame actions in ethical terms. Ethical leaders see their leadership as a fully ethical task. This entails taking seriously the rights claims of others, considering the effects of one’s actions on others (stakeholders), and understanding how acting or leading in a certain way will have effects on one’s character and the character of others. There is nothing amoral about ethical leaders, and they recognize that their own values may sometimes turn out to be a poor guidepost. The ethical leader takes responsibility for using sound moral judgment. But, there is a caution here. It is easy to frame actions in ethical terms and be perceived as â€Å"righteous.† Many have the view that ethics is about universal, inviolable principles that are carved into stone. We need to start with principles and values, and then work hard to figure out how they can be applied in today’s complex global business environment. Principles, values, cultures, and individual differences often conflict. Ethical leadership requires an attitude of humility rather than righteousness: a commitment to one’s own principles, and at the same time, openness to learning and to having conversations with others who may have a different way of seeing the world. Ethics is best viewed as an open conversation about those values and issues that are most important to us and to our business. It is a continual discovery and reaffirmation of our own principles and values, and a realization that we can improve through encountering new ideas.

Emotional Break-down in Susan Glaspells Trifles :: Trifles Essays

Emotional Break-down in Trifles Trifles is an interesting story about the emotional break-down of a country woman. It is obvious by certain descriptions within the text that she did have an emotional trauma. However, it is never made clear if she killed her husband or did he commit suicide. The emotional trauma can be scene in the beginning of the story by her attitude towards Mr. Hale. Ms. Wright is in a state of shock her constant rocking; pleating of her skirt; her "queer" look and her dead pan response to how Mr. Wright died "He died of a rope around his neck"; all indicate a high level of emotional stress in a situation. She is not responding to anything. Also, Mrs. Hale and Mrs. Peters examine her quilting. The sewing is very nice and even and then suddenly it becomes a wild disaray of stiches. These actions and inactions truly indicate an unbalanced state of mental being, however, is it enough to charge a woman with murder. What further indicates the difficulty in deciding if Mrs. Wright killed Mr. Wright is the canary. Mrs. Wright shows that she loves the canary by trying to bury it in the pretty sewing box. This is not the action of someone who killed the canary. Mrs. Wright is also described as being like a bird. The reader can envision her as someone petite or slight. She is described as being sweet, pretty, timid and fluttery. It would take a lot for someone of this description to commit murder. On the other hand, Mr. Wright is described as someone who is difficult to live with. He is described by Mrs. Hale as having killed the bird like qualities in his wife. He appears to be an overbearing, unhappy person. I propose that it is Mr. Wright who kills the canary. He is taking something away from his wife trying to keep control over her. Also the cage is severely damaged. Mrs. Wright is not described as someone with a lot of strength. Following that vein of thought I also propose that Mr. Wright went crazy. He killed the bird and hung himself. It would take a lot of strength to hang a large man and Mr. Wright was envisoned to be. Also the sheriff and county attorney are baffled by the way the rope was strung up, it was rigged up strangely.

Certificate of Authorship Essay

I have read and understand Strayer University’s Academic Integrity Policy. I promise to conduct myself with integrity in the submission of all academic work to the University and will not give or receive unauthorized assistance for the completion of assignments, research papers, examinations or other work. I understand that violations of the Academic Integrity Policy will lead to disciplinary action against me, up to and including suspension or expulsion from the University. I understand that all students play a role in preserving the academic integrity of the University and have an obligation to report violations of the Academic Integrity Policy committed by other student. In addition, I Arita Gibbs certify that I am the author of this document and any assistance I received in preparing this report fully acknowledged. I have also cited in APA format for all sources that I obtained ideas, data, and words. Sources are properly credited according to the APA guidelines. Arita Gibbs Due Week 9/ Date: 03/06/14 Promotional and Advertising Strategies Promotional and advertising strategies are important tools for businesses to stay on top. A company has to work hard every day to remain competitive. Most of their tactics include peeking the interest of consumers to buy a specific brand which is called a promotional strategy (Boone & Kurtz, 2013, p. 391). Promotional strategies also are put together to control the mix of daily activities, which the business benefits with market increase (Boone &Kurtz, 2013, p. 391). Advertising is another piece of the marketing process. It plays a major part in getting the word out regarding the product or service the business is selling (Lake, 2014). There are a few types of advertising such as, product advertising, cause advertising and institutional advertising (Boone & Kurtz, 2013, p. 398). Product advertising is design to involve ads with a message that differentiate the company’s merchandise or brand from competitors (Boone & Kurtz, 2013, p. 398). An example would be a credit card from any well-known company. Cause advertising deals with issues regarding ways to influence public and government opinion (Boone &Kurtz, 2013 p. 398). Companies who are designed for profit and those organizations who are charitably operated believe this tool is a win-win for everyone (Kokemuller, 2014). Important issues today being discussed are that children and adults should have every necessity in life, which should not prevent them from learning, living or being hungry (Boone & Kurtz, 2013, p. 398). Institutional advertising is a marketing tool which is based on the image of the company. This tool also promotes the designs, values and beliefs, as well as the good deeds of the organization (Boone & Kurtz, 2013, p. 398). Le Bonheur Children’s hospital is an excellent example. The company marketing strategy shows how a person can contribute a small donation an in turn can save a child’s life who is suffering from an illness. In assignment three, it states to compare and contrast the promotional strategies used by two different companies for a similar product. Next recommend two ways in which the company’s selected product could use marketing information to differentiate itself in the marketplace to gain an advantage over the company’s competitors. This paper will suggest two usages for consumer-oriented promotions that could assist a company in both the short and long-term, as well as analyzing the strategic manner in which the leading company in the product group has made a pricing decision by using one or more of the four pricing objectives. In closing two suggestive actions of other companies within the same product group will be given in order to help them differentiate themselves and gain a competitive advantage. The most effective advertising medium will also be discussed (Strayer University, 2014, p. 17). The two companies chosen are Nike and Adidas. Compare and Contrast the Promotional Strategies for Nike Inc. and Adidas Group Nike has become one of the largest marketers for athletic shoes (Nike, 2014). The company has global shares worth more than 30 percent (Nike, 2014.). Nike has sold their products through thousands of other retail stores as well as their products to countries both domestically and overseas (Nike, 2014). The company has outlet stores. Almost all of their products are made by independent contractors mainly located out of the country, with Nike involved in the market strategy and growth (Nike, 2014). Not counting the large range of core athletic shoes and clothing advertised under the leading brand, the company also sells shoes under other brands such as, Converse, Chuck Taylor, All Star and Jack Purcell through solely owned businesses (Nike, 2014). There is so much more to Nike. The company has relied on creativity in their designs of their products and large amounts of promotion to fuel their growth in the United States and other foreign Countries (Nike, 2014). Nike Inc. has a promotio nal strategy which thrives on an image, which has allowed the company to be one of the best (Nike, 2014). The company is known for their product icon â€Å"the swoosh†, which is different from other companies and their product slogan has been used in commercials for a very long time (Nike, 2014). Nike invests large amounts of money for commercials and product promotions (Nike, 2014). The company is motivated by customer agreements and sport teams. The company targets the college athletes to support the product and will also financially support team members that they will eventually endorse (Nike, 2014). Nike also uses their target techniques to include people who are well-known athletes and celebrity athletes (Nike, 2014). This strategy is a success because once the manager of a sports team decides on which type of shoe made  by Nike, he would like the student to have no choice other than to buy the shoe. The sports team can also buy the shoes in a large quantity and deliver it to the members of the team (Nike, 2014). Another marketing strategy of Nike is the creative design of a product objective or purpose meaning when a famous athlete promotes a certain brand of Nike shoe, the shoe will be associated with winning (Nike, 2014). The viewers have a mental effect from this type of correlation and the company builds a relationship with those consumers who are after the quality and utility of the items instead of the cost (Nike, 2014). With this idea, Nike is sure to reach a huge number of customers and clients who will purchase their products (Nike, 2014). Adidas has been in business over 80 years (Adidas, 2014). The company is known has the world of sports on each level, and they are also known for supplying the state-of-the art sports shoes, clothing and accessories (Adidas, 2014). Today, Adidas is leading the globe in the sporting industry (Adidas, 2014). The company’s strategy is modest; join our passion to create new and different products, constantly supporting our brands and products to increase our economic position and economic performance (Adidas, 2014). Adidas main location is in Germany, but the company has manufacturing centers and departments developing all around the world (Adidas, 2014). Adidas believes the company addresses many of the customer’s needs by exploiting marketing prospects from a number of angles. Their pledge to product innovation which keeps their brand different from the competitors provides a solid stage for upcoming growth (Adidas, 2014). There is no other brand with a well-known background and strong connection in sports than Adidas (Adidas, 2014). Adidas considers themselves has the best, and they are wherever the best will be such as, the Olympic Games, and anywhere else in the world where a game of sports will be played, observed, liked and celebrated (Adidas, 2014). The founder of Adidas is Adi Dassler (Adidas, 2014). His main objective for the company is not hard to understand, it is for all athletes to be at their best (Adidas, 2014). The key factor for all Adidas sporting products is to stay innovated, and the brand has five performance benefits, fast, strong, smart, cool, and more natural, which influences the important sporting events that focus on football, basketball, running, training, and outdoor (Adidas, 2014). The  goal for adidas is to market the individual who is active and lives for sports (Adidas, 2014). Nike uses the high profile athletes, and Adidas is about performance and lifestyle. Both Nike and Adidas use athletics as a tool for marketing in a way to attract the consumer to purchase their products. Recommended Ways to Market Information to Differentiate From the Competitors In this competitive market business promotion is the key to differentiate from the competitors (Boone & Kurtz, 2013, p. 395). One way is for the business to apply the rule of positioning. Product positioning is a strategy used to put a product perception in the mind of the person who is buying the product (Boone & Kurtz, 2013, p. 395). Positioning normally involves the creative difference associated with a product or service and the competition (Acevedo, 2014). Companies are successful when using this marketing tool because it helps gain market control, which raises revenue for the company (Acevedo, 2014). Adidas has a plan to attract the serious runner. The company is coming out with the shoe price a little over a $100.00 called the energy boost (Riper, 2014). The energy boost will be sold at all the Adidas Stores and the many department stores (Acevedo, 2014). The objective is to limit the advertising with no television involved. If this is a success the company believes it will have a retail rollback for a larger budget for advertising (Acevedo, 2014). The President of Adidas Patrick Nilsson believes if the company spends large amounts of money later then the company can have a wide range launch in retail when the time comes (Acevedo, 2014). Ultimately all of Adidas shoes, basketball, tennis, the whole nine yards will be linked to the boost technology (Acevedo, 2014). However, for now the company is pleased to know from a source in the apparel tracker states that the company has over 4% of the growth in the shoe market from two years ago (Acevedo, 2014). Nike uses their promotional strategy by using one of the company’s seven fundamental stages move (Nike, 2014). (Nike, 2014). Move is the stage which keeps the company different from the rest of their competitors (Nike, 2014). Nike will ship their products at any time, and by any occasion that the company needs in order to reach the thousands of  associates and the millions of customers over the world whether it is by plane, ship, small or large truck or train (Nike, 2014). Nike is serious about how they provide transportation no matter how difficult the obstacle may be (Nike, 2014). With this move Nike market leader enjoys over 50% market share (Acevedo, 2014). Adidas however does a little better with their overall athletic shoe. How Consumer-Orientated Promotions Can Help Nike and Adidas Short and Long-Term Consumer-Orientated Promotions are a part of the four marketing mixes, and it is also known as the pull-strategy (Moorty, 2014). Both parts are an important one for every organization (Moorty, 2014). The goal is to persuade the new customer or long-term customer to try out and purchase the products being marketed (Boone & Kurtz, 2013, p. 404). Also a marketer’s role is to motivate customers who shop frequently at the same business. Sample products, discount coupons are just a few of the promotions that can boost impulsive shoppers to buy which increases sales for the company (Boone & Kurtz, 2013, p. 404). The President and CEO of Nike, Mark Parker states the company’s short-term consumer-orientated advertisings is simple (Nike, 2014). The company will continue to produce amazing products, offer professional services and provide a continuation of excellent customer experiences. With these results will indeed show the power of our strategy and growth (Nike, 2014). Nike’s long-term consumer-orientated promotions are the vision that drives the sustainable growth (Nike, 2014). This balance is leveraged by an important advantage including the company’s reliability with the passionate connection to their customers; new and improve products with retail experience that lead the industry to be a stronger organization that also provides the opportunity to become a larger successful business (Nike, 2014). Nike has already set goals for growth to include the year 2015 (Kim, 2010). With a target set to at least $20 billion by that year the company has already outlined their revenue goals and initiatives and plans to reach this by using a customer-focus strategy (Kim, 2010). As time permits the more aggressive promotional strategic goals set by the business will be shared with the consumers, invested communities as well as the sports and apparel industry (Nike, 2014). One example is how the company has set their design to improve the company, by launching a new business a few years ago  called Nike Better World, an online stage to involve customers on how the business balanced individuals, economy and the world (Nike, 2014). Adidas short-term consumer-orientated promotions are to continue to rely on their customer loyalty (Adidas, 2013). As with any organization it is innovation, which makes the deciding factor who wins and who loses. Adidas has been successful using the brand equity method which has allowed them to maintain the slogan of being the fittest company on earth (Adidas, 2013). In order for the company to maintain their long-term status and sustain growth, Adidas will continue to create newer and improvable market brands (Adidas, 2013). Overall Adidas started back four years ago planning their strategy to increase the brand’s perception in the customers viewpoint which had an expectation to deliver over 80% of growth for the company until 2015 (Adidas, 2013). Some of the areas of improving consist of, the running and basketball areas, and combining the sports style with the Adidas NEO label (Adidas, 2013). However the company is keeping the original adidas because it has a long history with the energetic lifestyle customer (Adidas, 2013). The company will always be focused on the consumers wants, their level of fitness, their incentives and ambitions for doing activities in sports (Adidas, 2013). His or her individual way of living helps Adidas develop important products, services and experiences that construct a lifelong brand (Adidas, 2013). Pricing and Competitive Advantage In chapter 13 Promotions and Pricing Strategies there are four pricing objectives (Boone & Kurtz, 2013, p. 412). The four strategies are profitability, volume, prestige and meeting competition (Boone & Kurtz, 2013, p.412). Each objective has a responsibility to the person who is in business with making better pricing decision’s (Boone & Kurtz, 2013, p. 412). Organizations have their own style for using these objectives. Many businesses aim to increase the company’s revenue by setting higher prices (Boone & Kurtz, 2013, p. 412). Other companies may decrease their prices to bring in new clientele (Boone & Kurtz, 2013, p. 412). Nike is the leading company for their athletic shoes because of their higher price and leadership strategy (Nike, 2014). Businesses would define this as the prestige pricing strategy (Boone & Kurtz,2013, p. 413). The company has  been able to make this strategy successful because of their individuality in their brand and service (Nike, 2014). The name alone has been associated with many hero athletes for instance, Michael Jordan (Nike, 2014), This brilliant idea makes customers believe if Michael Jordan can buy a Nike shoe and become more successful than certainly another ordinary person can as well (Nike, 2014). This is why Nike customers do not mind paying a higher price because of the company’s image, value and customer service (Nike, 2014). Another pricing objective Nike uses is profitability. This is the most common factor used in a strategic plan for a business (Boone & Kurtz, 2013, p. 412). Nike has a plan to continue to bring in more revenue and remain profitability in the growth of the company, maintain the company’s flowing cash generation which will help to preserve a strong financial statement until the year 2015 (Kim, 2010). The company believes the return on invested capital is more than 20%, and growing shares inside the set target calendar year payout should be in the ballpark of more than 20% by the fourth quarter (kim, 2010). Both companies have been in business for a while, and their products are known to satisfy the customer’s needs. One suggestion that other shoe apparel companies can take in order to differentiate themselves and gain a competitive advantage is knowing how much the product is going to cost, quality, performance as well as the availability of the product, updated technology, good service, and strength and leadership (Hill, 2007). Second suggestion is to know the company’s relationship and making sure the organization can meet the need of the consumer in a way no one else will (Hill, 2007). Determine the Most Effective Advertised Medium Advertising Medium and cost are both key factors to the success of any organization (Boone & Kurtz, 2013, p. 399). This tool is how marketers are able to sell new and existing products and services to potential consumers (Boone &Kurtz, 2013, p. 399). There are many types of advertising, newspapers, direct mail, billboards, radio, internet, magazine, and television (Boone &Kurtz, 2013, p. 399). In this muti-media world, television is considered the largest ranking medium with over 40% of any other form of advertising (Boone & Kurtz, 2013, p. 399). Nike uses commercials and promotional products for their form of medium advertising  (Nike, 2014). Within the past six months, the company has grossed over 40 percent of their margin (Stock, 2013). Nike is focused solely on bringing new and innovate creations to the market (Stock, 2013). Nike believes they have a good thing going. As of now the attention is on their Flyknit shoe (Stock, 2013). This shoe has important types of fiber connected with fabric and leather and was marketed to catch the eye of the individuals who love to run, which came just in time for the Winter Olympics (Stock, 2013). Nike had to spending more for their advertising by trying to convince the customer that this $200 shoe was worth it (Stock, 2013). In order to do so, Nike had to bring out some famous athletes for instance; one of the athletes was LeBron James (Stock, 2013). By advertising LeBron in their ads the company was able to increase their profit margin, and acknowledged their game plan was a success not only by convincing customers to buy but using the ads as well (Stock, 2013). Nike was also successful with their global orders (Wahba, 2013). It was the largest so far of their sales in merchandise which increased over 12 percent since April (Wahba, 2013). The company’s total revenue was huge even up to the second quarter (Wahba, 2013). The company made over $6 billion which was a total revenue of more than 7 per cent (Wahba, 2013). Nike was able to sell more goods at a higher price than any other competitor (Wahba, 2013). The company profited in advertising and promotion by 13 percent with their help in marketing and product launching for the Winter Olympics (Wahba, 2013). Conclusion Promotional and advertising strategies of an organization are a determining factor to whether the company will succeed or fail. This competitive market is a vicious one, and in order to stay on top the most successful business must continue to develop new innovated strategies. Nike and Adidas have been in business a long time; Nike has been the leader and Adidas has been the Opponent (Wahba, 2013). Both companies have excellent strategies, and some of their strategies have a close comparison. Nike has been able to remain on top because of the company’s promotions, advertising and marketing genius. References Acevedo, L. (2014). Product Positioning Strategies: eHow Inc. Retrieved from eHow Inc Web site: http://www.ehow.com/way_5218154_product-positioning-strategies.html Adidas Corporation. (2014). Investors: Adidas Corporation. Retrieved from Adidas Corporation Web site: http://www.adidas-group.com/en/investors/strategy/global-brands-strategy/ Adidas Corporation. (2014). Our Group: Adidas Corporation. Retrieved from Adidas Corporation Web site: http://careers.adidas-group.com/our-group.aspx Boone, L. E., & Kurtz, D. L. (2013). Contemporary Business. Hoboken, NJ: John Wiley & Sons. Hill, T. (2014). How Do You Differentiate Yourself From Your Competitors: Ezine Articles Corporation. Retrieved from Ezine Articles Corporation Web site: http://ezinearticles.com/?How-Do-You-Differentiate-Yourself-From-Your-Competitors?&id=705221 Kim, J. (2010, May 6). Nike Introduces 2015 Global Growth Strategy: Sneaker News Corporation. Retrieved from Sneaker News Corporation Web site: http://sneakernews.com/2010/05/06/nike-introduces-2015-global-growth-strategy/ Kokenuller, N. (2014). What Is Selective Product Advertising: Chron Corporation . Retrieved from Chron Corporation Web site: http://smallbusiness.chron.com/selective-product-advertising-17454.html Lake, L. (2014). Marketing vs. Advertising: What’s the Difference: About.com Corporation. Retrieved from About.com Corporation Web site: http://marketing.about.com/cs/advertising/a/marketvsad.htm Moorty, S. (2014). Define Promotional Sales: eHow Inc. Retrieved from eHow Inc Web site: http://www.ehow.com/about_5401613_define-promotional-sales.html Nike, Inc. (2014). History & Heritage : Nike Inc. Retrieved from Nike, Inc Web site: http://nikeinc.com/pages/history-heritage Stock, K. (2013, December 20). Nike Ramps Up Prices—and Ad Spending—for Olympics: BloombergBusinessweek L.P. Retrieved from BloombergBusinessweek L.P.Web site: http://www.businessweek.com/articles/2013-12-20/nike-ramps-up-prices-and-ad-spending-for-olympics Wahba, P. (2013, December 19). Nike profit rises and advance orders jump: Reuters Corp oration. Retrieved from Reuters Corporation Web site: http://www.reuters.com/article/2013/12/19/us-nike-results-idUSBRE9BI18R20131219

Project Management Information Systems - 1240 Words

Problem 1. Problem 21 Category Weight A B C Labor costs 20 1 2 3 Labor productivity 20 2 3 1 Labor supply 10 2 1 3 Union relations 10 3 3 2 Material supply 10 2 1 1 Transportation costs 25 1 2 3 Infrastructure 5 2 2 2 Scores 165 210 225 Location C is the best Problem 22 a Category Weight A B C Labor costs 20 1 2 3 Labor productivity 20 2 3 1 Labor supply 10 2 1 3 Union relations 25 3 3 2 Material supply 10 2 1 1 Transportation costs 10 1 2 3 Infrastructure 5 2 2 2 Scores 195 225 210 Location B is the best Problem 22 b Category Weight A B C Labor costs 20 1 2 3 Labor productivity 20 2 3 1 Labor supply 10 2 1 3 Union relations 10 3 3 2 Material supply 10†¦show more content†¦B, E, I, K, L Part d. 43 days. Problem 5. Learning Rate 85% Hourly Rate $100 Overheard Rate Per Session $600 Markup 20% First Session 50 Session Time Cumulative Time Fixed Cost Session Cost Cumulative Cost Cumulative Revenue 1 50.00 50.00 $600 $5,600 $5,600 $5,172 2 42.50 92.50 $600 $4,850 $10,450 $10,344 3 38.65 131.15 $600 $4,465 $14,915 $15,516 4 36.13 167.27 $600 $4,213 $19,127 $20,688 5 34.28 201.55 $600 $4,028 $23,155 $25,859 6 32.85 234.40 $600 $3,885 $27,040 $31,031 7 31.68 266.09 $600 $3,768 $30,809 $36,203 8 30.71 296.79 $600 $3,671 $34,479 $41,375 Total Cost $34,479 a. Total Price (includes Profit) $41,375 b. Per Session Price $5,172 c. The Breakeven point is at the third session, when for the first time revenue rises above cost. Answer: Problem 1 Mantel Q21 Mantel Q22 a. My recommendation if the weight for the transportation cost went down to 10 and theShow MoreRelatedA Project Report on Management Information System at Acc Ltd.4281 Words   |  18 PagesA PROJECT REPORT On Management Information System At ACC Ltd. 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