Martha Stewart: Organization Ethics of Insider Trading

On December 27, 2001, Martha Stewart made a decision that changed her life, and the decision jeopardized the livelihood of her stakeholders. Ms. Stewart received a call from her stockbroker’s assistant letting her know that Dr. Samuel Waksal was trying to sell his holdings in ImClone. Dr. Waksal was the chief executive officer and founder of ImClone, and he had just received notice from the Food and Drug Administration that the drug Erbitux did not receive approval to be used as a cancer drug. Stock in ImClone was at a high due to expectations of Erbitux getting approval, and once the news of it not getting it reached the public, Dr.  Waksal knew that the price of its stock was going to decline. (Carroll & Buchholtz, 2009, p. 814) This is an example of insider trading. â€Å"Anytime a company executive or employee buys or sells stock in the company that person works for, an inside trade has occurred. † (Newkirk, 1998) In this essay I will explore who the ‘insiders’ were that knew that the stock was in danger, and the people who did not know. I will examine how Martha Stewart’s decision affected her company, Martha Stewart Living Omnimedia, and what she could have done differently. The concept of insider trading is when a person has knowledge, positive or negative, that can impact a company’s stock price and a trade is made based on that knowledge. Insider trading is illegal. Martha Stewart â€Å"acted on inside information when she sold 3,928 shares in biotechnology company ImClone Systems†. (White, 2006) The Securities and Exchange Commission (SEC), the federal agency that has the responsibility of regulating stock trading in the United States, alleged in its case against Ms. Stewart that she received an illegal tip from her broker Peter Bacanovic. The tip was that Dr.  Waksal and his family members were selling their shares of ImClone stock. Bacanovic was the broker for Dr. Waksal and for Ms. Stewart. (White, 2006) When insider trading takes place, there is a select group of privileged people who have information about the stock’s possible rise or fall. In the case of ImClone, Dr. Waksal let certain individuals, his father, his daughter and his broker’s assistant, know that a change was about to take place with ImCone stock by attempting to sell his shares. These are the people that the investigation revealed did ImClone stock trading on the day before the news become public. Martha Stewart found out about the news when Bacanovic’s assistant, Douglas Faneuil, notified her that Dr. Waksal was selling his holdings. (Hurtado, 2004) Each person who sold their holding in ImClone on December 27, 2001 with knowledge of the possible decline participated in insider trading. The other individuals that owned holdings in ImClone were not privileged to that information, they did not have an inside advantage. The two parties who knew ImClone’s stock was going down and the people who did not know have several things in common. They all felt that ImClone’s stock was a good investment and they were all about to loose money once the FDA’s decision was made public. The difference between the two parties is one had a closer connection to the executives of ImClone and the other did not. High level employees of an organization are privileged to insider information. The spouses, friends, bankers and lawyers are connected to individuals who have â€Å"awareness of material information that’s not publicly available† to everyone. (Clark, 2009) Martha Stewart and Dr. Waksal were close friends at the time of the ImClone scandal. This allowed her to have an inside advantage. When Dr. Waksal received the news that the FDA was not going to accept Erbitux’s application for approval, he had an ethical dilemma. He knew that he could not control what was about to happen to ImClone, but he wanted to â€Å"minimize his losses, and maybe the losses of some family members and close friends†. (Carroll & Buchholtz, 2009, p. 814) Dr Waksal; his father, Jack; his daughter Aliza; and a number of close friends had significant investments in ImClone†¦Of course, elling his stock and advising his father, daughter, and friends to sell their stock would reduce their loses†¦ Dr. Waksal was faced with a tough decision. On one hand, he could refrain from engaging in questionable trading practice and thereby incur a significant amount of losses in his investment. On the other hand, he could choose to sell his stock based on the information he received, reducing his investment losses, but violating the law and ethics of fair trade. (Carroll & Buchhlotz, 2009, p. 814) Dr. Waksal influenced each person he told about the FDA’s decision and each person who knew he was trying to sell his holdings. When the head of an organization decides to sell his/her holdings in the organization, knowledge of this greatly influences others to do the same. Once Martha Stewart became aware of the possible decline in ImClone stock, she had a decision to make too. Her decision was whether to do nothing or to sell her stock. The decision she made affected more people than just herself. It affected every stakeholder she was associated with at that time. This included her employees at Martha Stewart Living Omnimedia (MSO), customers and competitors of MSO products, the Kmart Corporation, CBS’s â€Å"The Early Show† where Ms.  Stewart was a style contributor, and other business leaders and the public. Employees of MSO were left wondering if their jobs were in jeopardy, customers and competitors of MSO did not know the fate of the company, Kmart’s revenues suffered, Ms. Stewart was no longer needed at CBS, and the public was left with mixed views. The ethical thing that Ms. Stewart should have done that would have spared her company’s reputation and prevented the public scrutiny that each company and person close to her had to endure would have been to not act on the tip she received about ImClone’s stock. The company’s reputation would have been saved and Ms. Stewart would have saved money. She avoided a loss of $47,673 by selling her stock in ImClone before the news of the FDA’s decision was made public. (White, 2006). â€Å"The cost to her of selling that stock, factoring in penalties, restitution, and legal cost has been estimated to be about $300 to $400 million. Furthermore, had she held on to her shares of ImClone rather than selling them, she would have made a nice profit†. (Carroll & Buchholtz, 2009, p. 17) In February 2004, after a new clinical trial and refilling by ImClone’s partner, the FDA approved the use of Erbitux for colon cancer and the price of its stock soared again. (Carroll & Buchholtz, 2009, p. 816) Dr. Waksal’s punishment for his actions was the maximum sentence of seven years in prison and he was asked to leave his position at Stanford University, the National Cancer Institute of the National Institutes of Health, Tufts University School of Medicine and Mount Sinai School of Medicine. He also lost his position of CEO with ImClone and he had to pay a fine to the SEC. His plea agreement with the government and his admittance that â€Å"he tipped undisclosed individuals to dump their stock before the FDA decision was made public† spared his father and daughter from facing charges. (Carroll & Buchholtz, 2009, p. 815-816) Dr. Waksal’s and Martha Stewart’s stockbroker, Peter Bacanovic, was sentenced to five months in prison, five months of house arrest, and fined $4,000. Bacanovic’s assistant, Douglas Faneuil was fined $2,000. (Hurtado, 2004) The original investigation of Martha Stewart was for insider trading, but she was not indicted for insider trading. A spokesperson for Ms. Stewart denied the allegations and insisted that Ms. Stewart had a prearranged agreement with her broker, Mr. Bacanovic, to sell ImClone stock if it fell below $60†¦Her assistant broker, Mr. Douglas Faneuil, however, claimed that such an agreement never existed and that Ms. Stewart sold her four thousand shares of ImClone after she learned that Dr. Waksal and other family members had dumped their stock. (Carroll & Buchholtz, 2009, p. 815) Ms. Stewart was indicted on nine federal counts. The nine-count indictment alleged that Stewart altered evidence that she traded on inside information about the biotech company ImCone Systems, conspired with her stockbroker to lie to federal officials investigating the trade, and defrauded shareholders in her company, Martha Stewart Living Omnimedia, by misleading them about why she had sold the stock†. (Carroll & Buchholtz, 2009, p. 815) Martha Stewart was found â€Å"guilty on four counts: obstruction of justice, conspiracy, and two counts of making false statements†. (Carroll & Buchholtz, 2009, p. 816) Ms.  Stewart’s punishment for her crime was five months in prison, five months in home confinement, and two years of probation. The fines she had to pay included $30,000, and $195,00 that included the $47,673 she saved by selling her shares in ImClone plus $137,019 in penalties that represent three times the loss avoided amount. (White, 2006) â€Å"In addition to the fine, Ms Stewart agreed to a five-year ban on serving as a director of a public company and to limitations during those five years on the extent of her service as an officer or employee of a public company†. (White, 2006) Ms. Stewart resigned as CEO and chairman of Martha Stewart Living Omnimedia on the same day she was indicted, but remained on the company's board. She also â€Å"resigned her position as board member for Revlon and the New York Stock Exchange. † (Carroll & Buchholtz, 2009. p. 816) Some think Ms. Stewart was justly tried and convicted, while others think she was a scapegoat for larger corporate scandals. My opinion is that the punishment given to Ms. Stewart was fair. The maximum amount of time the crime she was convicted for can be unto 20 years in prison. (Hoffman, 2007) Regardless of whom you are, consequences should follow when the law is broken. Martha Stewart broke the law in a minimal way, so her punishment fits the crime. When shareholders invest in a corporation, they do so to make a profit. The money they invest is used in several ways by the corporation. It is used for product research and development, improvements, overseas expansion, and to keep the company afloat in tough times. If the company is not successful, the investors loose money. If the company is a success, the investors are rewarded with higher values of their stock shares in the company. (Clark, 2006) Martha Stewart’s action brought an initial loss for her investors. Advertising sales plunged at MSO’s magazine when the incident began. â€Å"MSO stock plummeted by 60 percent after the charges were made public†. (Carroll & Buchholtz, 2009, p. 815) However, â€Å"when Ms. Stewart received the minimum sentence, the stock price of her company rose by 37 percent†. (Carroll & Buchholtz, 2009, p. 816) Before the ImClone scandal in 2001, Martha Stewart’s products were sold in Kmart and she was the CEO of MSO. During the ordeal, her magazine Martha Stewart Living loss advertising sponsors and pictures of Ms. Stewart were removed from the magazine. Less than three years after she got out of prison, the magazine showed an increase in advertising pages, pictures of Ms. Stewart are back in the magazine, she has a channel on Sirius satellite radio, she has a new magazine called Blueprint for younger people, and she has a line of homes with KB Homes. â€Å"In 2006, she published Martha Stewart’s Home-keeping Handbook, a 744-page guide to all things domestic†. (Carroll & Buchholtz, 2009, p. 817) As of today, MSO is a thriving organization. Martha Stewart has a line of products at The Home Depot, PetSmart and Macy’s, along with The Martha Stewart Show on the Hallmark Channel. The company reported $49. 7 million for its third quarter earnings in 2010. (â€Å"Martha Stewart,† 2010) Prior to the ImClone scandal, Martha Stewart owned a magazine, her products were in Kmart and she worked for â€Å"The Early Show†; after coming out of prison, she still owns the magazine, her products are with more prominent companies, she has her own show on television and her organization is still making profits. The relationship she had with her stockholders may have suffered during the scandal, but today the relationship is mended. Ethical and public issues must be considered in a stockholder relationship. Decisions made by executives can have enormous effects on a company which can then cause negative and/or positive changes in a stockholder’s shares depending on how the public receives a brand or corporation once it has gone through a scandal. Loyalty to the Martha Stewart brand has helped the company to endure through the storm of the scandal. (Carroll & Buchholtz, 2009, p. 816) Shareholders should be considered when decisions are made that are unethical or that could be harmful to the company’s public image.

The Symbiotic Relationships between Microbial Organisms and Plants

The Symbiotic Relationships between Microbial Organisms and Plants | With Concentrations in Rhizobium & A ; Mycorrhiza Introduction– There are many capturing microbic beings that spend a important part of their life rhythm shacking in the dirt profiles. These beings include roundworms, Protozoa, Fungis, bacteriums and different arthropods. Together they play critical functions in act uponing dirt features and keeping healthy dirt profiles. In our instance, we will be chiefly concentrating on Fungis and bacteriums. Fungi and bacteriums are really normally found inside the dirt and they have huge impact on dirt birthrate and works growing. It is instead challenging to analyze their interactions with workss and their single maps. The intent of this research paper is to derive a deeper comprehension of their perplexing relationship with workss ; and most significantly, to carry through my intense wonder of why such symbioses are so indispensable to the well-being of our assorted ecosystems and even for us worlds? Plant Foods– The three primary foods workss reliant to a great extent on are nitrogen, P, and K. Since we will be extensively analyzing the functions of bacteriums and Fungis, thereby we are more concerned with N and P. So so, why do workss necessitate those foods? Nitrogen is one of the indispensable chemical elements workss needed for growing and reproduction. It is a constituent of chlorophyll and thereby critical for photosynthesis. It is besides a major constituent of amino acids, the edifice blocks for proteins ; and without proteins, workss would shrivel and decease ( U.S. Department of Agriculture, 2015 ) . In add-on, some of the proteins act as structural units in works cells while others act as enzymes, doing possible many of the biochemical reactions on which life is based. Nitrogen is besides a constituent of energy-transfer compounds, such as adenosine triphosphate, known as ATP. ATP grants cells the ability to conserve and utilize energy released in metamorphosis. Nitrogen is besides a important constituent of nucleic acids such as Deoxyribonucleic Acid, known as Deoxyribonucleic acid, the familial stuff that allows cells to turn and reproduce. Phosphorous is another critical food both as portion of several cardinal works construction compounds and as a contact action in the transition of legion cardinal biochemical reactions in workss. Phosphorous is notably responsible for its function in capturing and change overing sun’s energy into utile works compounds. Like N, P is a critical constituent of DNA. It is a constituent of RNA, the compound that reads the DNA familial codification to construct proteins and other compounds indispensable for works construction, seed output and familial transportation. The construction of both DNA and RNA are linked together by P bonds. Another similar belongings that phosphorus portions with Nitrogen is that it is besides critical constituent of ATP. ATP signifiers during photosynthesis, and uses P within its construction, and it processes from the beginning of seedling growing through to the formation of grain and adulthood ( U.S Department of Agriculture, 2015 ) . Therefore, both N and phosphoric are indispensable elements needed for the general wellness and energy of all workss, they help to increase chaff and root strength, better flower formation and seed production and support plants’ development throughout their full life rhythm. Without neither N nor phosphoric, there would be no life on Earth as we know it. Nitrogen Fixing Bacteria Analysis –Rhizobium As mentioned above, N is an indispensable food for workss as it is portion of their nucleic acids and proteins. Nitrogen can be in many signifiers, such as Nitrogen Gas, Ammonia, Nitrate, Nitrite, Ammonium and Nitrous Oxide. Dinitrogen or N gas is really abundant and makes up 78 per centum of our ambiance. Unfortunately, workss are unable to utilize them straight because they lack the necessary enzymes to change over the gas into biologically utile signifiers. The job here is that N gas is non really reactive ; it will barely interact with other chemicals to make new compounds ( Brady & A ; Weil, 2010 ) . However, there is a manner to repair the unserviceable signifier through either chemical or biological procedures ; and the repair procedure itself is called nitrogen arrested development. The nitrogen arrested development procedures will interrupt down the ternary bond that held the N atoms together and liberate them up for transmutation. The atoms can so be integrated with other e lements to organize ammonium hydroxide, ammonium or N dioxides. Now we introduce the construct of biological N arrested development. It was foremost discovered by German agronomist Hermann Hellriegel and Dutch microbiologist Martinus Beijerinck. Biological N arrested development is the procedure of transition of atmospheric N into ammonium hydroxide by beings through an enzyme called nitrogenase ( Peters, Fisher & A ; Dean 1995 ) . Within the nitrogenase, there are two important protein composites that are responsible for the decrease of N gas, viz. Fe-protein & A ; MoFe-protein. The reductive reaction can be expressed by the equationN2 + 8H+ +8e- + 16 ATPi?2NH3 + H2 + 16ADP + 16Pi. Think of the Fe-protein composite as a power house and the MoFe-protein composite as a mill. A mill requires energy to bring forth merchandises, and that is when the power house stairss in to run into the demand. Fe-protein ( the power house ) receives elections ( energy ) from a flavedoxin ( an negatron reassigning protein, in this instance, think of it as a air curr ent turbine ) and transfers them further to the MoFe-protein ( the mill ) . The negatron transferring is made possible by the coincident hydrolysis of ATP to ADP & A ; Pi, where more energy is produced to back up the transit of negatrons. MoFe-protein so takes the negatrons, atmospheric N gas, and H converts them into ammonium hydroxide along with a remnant H molecule. It is of import to observe that enzymes within nitrogenase can be destroyed by free O molecules. Thereby, organisms that fix N must guarantee the enzymes do non acquire exposed to oxygen ( Brady & A ; Weil 2010 ) . The being that fix N are a type of dirt bacteriums and they are jointly called Rhizobium. In order to protect nitrogenase, they form this intricate symbiotic relationship with leguminous workss, such as soya beans. They begin by infecting the plants’ root hairs and the cortical cells ; it leads the formation of root nodules that serve as the safe oasis for nitrogen arrested development ( Long, 2004 ) . The procedure in which the nodules signifier is really absorbing. The plants’ root hairs release certain chemical signals to pull rhizobia bacteriums that are present in the dirt. Rhizobia enter the root and get down to proliferate and do an infection yarn to organize. The infection yarn will so turn into the cerebral mantle of the root. When the infection yarn has reached far plenty into the plants’ root, it will let go of bacterial cells, which become bacteroids in root cells. Nod factors from the bacteriums will do cortical cells to split and take to the eventual formation of nodules. It is curiously interesting that the plants’ immune system is digesting the infection ; alternatively of killing the bacteroids, they keep them within their cells. When Rhizobium are inside the nodules, they do non hold to cover with free O molecules and now can safely utilize nitrogenase to cut down atmospheric N to ammonium hydroxide. Through this symbiotic relationship, the host workss gain benefits from utilizing an eternal beginning of N from the ambiance that are now in a more biological useable signifier. In return, rhizobia receive saccharides generated through photosynthesis for energy ( since it takes energy to execute the transition ) , every bit good as a protected shelter in which for them to populate and turn ( Brady & A ; Weil, 2010 ) . Plants are now able to use the ammonium hydroxide ensuing from bacterial N arrested development for growing. The compound is transported into works tissues and is so incorporated into aminic acids, which are so made into works pr oteins. For cases, soya beans and peanuts produced by leguminous plant workss contain extraordinary high degrees of protein and are among the most of import agricultural beginnings of protein in the universe. The curious mutualism between legume workss and Rhizobium illustrate the manner they help to prolong each other’s lives. Consequently, it is besides assisting us worlds to prolong our lives. In fact, our well-being is to a great extent dependent upon this important and yet low-cost beginning of protein. We consume them as portion of our basic diet and we use them as animate being provenders. Farmers, they take the advantage of this mutualism and utilize it to fertilise their harvest land through harvest rotary motion – for case, they use soya beans and other leguminous plant workss in rotary motions with grass harvests such as maize or wheat to straight shoot biological useable N back to the dirt ( U.S. Department of Agriculture’s, 2015 ) . Nitrogen arrested development procedure besides at the same time contributes to dirty birthrate because the works roots leaves behind some of the biologically available N. Rhizobium is a natural and environmentally friendly ma nner to fertilise workss as oppose to chemical fertilisation that use a non-renewable resources, such as natural gas. Taken together, who would hold of all time thought that such elusive relationship between workss and bacteriums can hold such an tremendous consequence on all the species’ endurance. Alimentary Delivering Fungi Analysis – Mycorrhiza As antecedently stated, phosphoric is one the most indispensable foods for many life beings, particularly for workss. Plants must utilize phosphoric for normal growing and adulthood. The component plays a immense function in photosynthesis, energy storage and transportation, cell division and many of import procedures in workss. Without phosphoric, a works would non even be able to finish its normal production rhythm. Soil phosphoric is classified into two groups, organic and inorganic. Organic phosphoric can be found in works residues and manures. Inorganic P consists of apatite ( a group of phosphate minerals and original beginning of all phosphoric ) and composites of Fe and aluminium phosphates and P absorbed onto clay atoms. The job associated with phosphoric and its relevant compounds are their solubility. The solubility of both organic and inorganic P is highly low and merely a really little fraction of dirt P is present in solution at any one clip. To give a position, most dirts contain less than a lb per acre of soluble P and with some dirt incorporating even less ( Ingham, Trofymow, & A ; Coleman, 1985 ) . Since there will be really small P in dirt solution and most of them being stuck onto clay atoms due to molecular attractive forces, it would be rather hard for workss to seek for and intake P. However, merely because workss themselves are unable to obtain the foods they need, it does non intend they can non inquire for aid from other being ; for cases, mycorrhizal Fungis. First and first, it is of import to understand what Fungi are and how do mycorrhizal fungi differentiate themselves from their sort. Fungi are primary beings that can non synthesise their ain nutrient and are really dependent on complex organic substances for C. There are three functional groups of Fungis, decomposers, pathogens, and mutualists. First, we have decomposers or saprophytic Fungis ; they are an of import portion of our ecosystems and play a necessary function in immobilising and retaining foods in the dirt by devouring foods in organic affair. They are capable of degrading cellulose, proteins and lignin, some of which are extremely immune to breakdown ( Smith & A ; Read, 2008 ) . They can change over dead organic affair into their ain fungous organic structures, C dioxide and organic acids. They are besides indispensable for the decomposition of difficult woody organic affair. Through decomposition, they help to supply a fresh beginning of indispensable foods for new coevalss of life. Second, we have infective Fungis, such as Verticillium, Phytophthora and Pythium ; they are really rather damaging to the wellness of workss. Those beings will perforate the works and break up the life tissue, doing the works to be weakened and alimentary deficient or even decease ( Smith & A ; Read, 2008 ) . Last, we have mutualistic Fungis that form reciprocally good relationships with workss. Mycorrhizal Fungis are possibly the most well-known amongst mutualists. There are four groups of mycorrhizal Fungis, arbuscular, ectomycorrhizal, ericoid and orchid ( Smith & A ; Read, 2008 ) . Our chief focal point will be on arbuscular mycorrhizae, they are the most common signifier of mycorrhiza, particularly in agricultural works associations. This fungus has arbuscules which are growing formed inside the works root and have many little projections traveling inside the plants’ cells. Arbuscules are believed to be the major site where the C and alimentary exchange between works and fungus occurs. It is named so due to their â€Å"tree-like† construction, arbuscules are created by perennial ramification of hyphae once they enter a cell within a works root. Fungus kingdoms are heterotrophic beings, intending they must absorb their nutrient. They have the capableness of absorbing elements such as P and N which are indispensable for life. Plants are autophytic ; they produce their ain nutrient in the signifier of saccharides through the procedure of photosynthesis. It is of import to observe that plants’ roots frequently have trouble obtaining and absorbing Ps due to the element’s stationariness and unsolvability inside the dirt. However, arbuscular mycorrhizae can assist workss to widen the volume of dirt explored through their hyphae. Mycorrhizal Fungis are characterized by those really thin hyphae, which are between 1 and 10 thousandths of a millimetre in breadth. Impressively, up to 5 metres of populating hyphae can be extracted from 1 gm of dirt. These hyphae explore the dirt expansively and intercept phosphoric compounds, it would so bring forth enzymes to solubilize P from inorganic stone, absorb the food, and transpo rt them back to the host-plant ( Baum & A ; Gruda 2012 ) . The hyphae would organize webs between neighbouring dirt atoms, between roots and dirt atoms or even between roots of different workss. And since they are arbuscular mycorrhizae, they besides form webs inside the roots they colonize. These intricate webs of hyphae are normally referred to as mycelium. In this instance, both workss and fungus depend on the symbiotic relationship to develop and last. At the terminal, they both benefit from each other. Mycorrhiza fungi usage mycelium to happen phosphoric and transport it back to the host works. In exchange, the Fungis receive saccharides as a signifier of payment for assisting the workss ( Brady & A ; Weil, 2010 ) . In add-on, mycorrhizal associations may besides assist to cut down onslaught from root pathogens through the secernment of bacteriums killing enzymes and antibiotics ( Lugtenberg & A ; Bennet, 1991 ) . It is undeniable that mycorrhizae play an huge function in sustainable works productiveness and care of dirt construction. Furthermore, it is estimated that about 90 % of all vascular land workss ( land workss that have lignified tissues, the xylem, for carry oning H2O and minerals throughout the works organic structure ) live in some association with mycorrhizal Fungis. Mycorrhizal associations are besides seen in dodo rec ord and are believed to be one of the lending factors that allowed early land workss to suppress the land around 450 million old ages ago. The symbioses between workss and mycorrhizae affect our ecological procedure in many intricate and elusive ways. And knowledge refering mycorrhizal Fungi has well helped us to progress in engineering that made possible the production of microbic inoculums. Those inoculums act as bio-fertilizers which significantly improved the endurance, growing and constitution of trees and harvests ( Baum & A ; Gruda, 2012 ) . We are able to bask the shadiness of oaks, decorate Christmas trees, and eat delightful blueberries all thanks to the benefits from the concealed universe of mycorrhizal Fungis, a universe that helps to prolong the endurance of about all of the earth’s land workss. Decision– Symbiosis is a alone relationship exhibited between two beings where they live together in a close association. The two beings would work together and exchange foods to guarantee each individual’s endurance. The mutualism between legume workss and Rhizobium provide us humans a important and yet low-cost beginning of protein. The mutualism between vascular workss and mycorrhizae has a enormous impact on the well-being of many ecological procedures due to the fact it supports the endurance of the earth’s huge land workss. We are able to bask many things in our life all thanks to symbiotic relationship amongst these microbic beings. I personally feel that many of us have gotten so busy with carry throughing our wonder towards outer infinite that we have forgotten to appreciate what are concealed underneath the land. Another philosophical takeout from composing this research paper is that I have learned the value of mutuality. None of us are born perfect, a nd it might be better if we can swear and trust on one another in society for endurance and to boom as people. For case, if I’m inadequate at making certain things, I can possibly inquire my friend to assist me out, and in exchange I can assist him or her with something that she is non good at. Therefore, I believe that by working together hand in glove and collaboratively, we can optimise our consequences and accomplish astonishing things that we otherwise would non be able to accomplish by ourselves entirely. Mentions Baum C. , EL-Tohamy W. & A ; Gruda N. ( 2012 ) . Increasing the productiveness and merchandise quality of vegetable harvests utilizing arbuscular mycorrhizal Fungi.Scientia Horticulturae,187, 131 – 141. Brady N. C. & A ; Weil R. R. ( 2010 ) .Elementss of the Nature and Properties of Soils, Third Edition. Upper Saddle River, NJ: Pearson Prentice Hall. Ingham R. E. , Trofymow J.A. , Ingham E.R. & A ; Coleman D.C. ( 1985 ) . Interactions of Bacteria, Fungi, and their Nematode Grazers: Effectss on Nutrient Cycling and Plant Growth.Ecological Monographs,55,( 1 ) , 119-140. Lugtenberg J.J. B. , Weger A.L. & A ; Bennett J.W. ( 1991 ) . Microbial stimulation of works growing and protection from disease.Current Opinion in Biotechnology, 2, ( 3 ) , 457 – 464. Long R. S. ( 2004 ) . Rhizobium-legume nodulation: Life together in the resistance.Cell,56, ( 2 ) , 203-214. Peters J.W. , Fisher K. & A ; Dean D.R ( 1995 ) . Nitrogenase construction and map: a biochemical-genetic position.Annual Review of Microbiology, 49, 335-366. Smith S. E. , & A ; Read D. J ( 2008 ) .Mycorrhizal Symbiosis, Third Edition. San Diego, CA: Academic Press. U.S. Department of Agriculture’s ( 2015 ) .The Soil Phosphorous Problem. Retrieved from hypertext transfer protocol: //passel.unl.edu/pages/informationmodule.php? idinformationmodule=1130447043 & A ; topicorder=3 & A ; maxto=15 & A ; minto=1 U.S. Department of Agriculture’s ( 2015 ) .Nitrogen as a Food. Retrieved from hypertext transfer protocol: //passel.unl.edu/pages/informationmodule.php? idinformationmodule=1130447042 & A ; topicorder=2 & A ; maxto=8

Response Paper to “Against School” by John Gato

Against School Response In â€Å"Against School,† John Gato explains that there’s something wrong with the education system along with the process of schooling. In my response, I understand where he’s coming from. I’ve been contemplating myself as to how my twelve years of education had been. I personally agree to his arguments against the education system and public education. I believe what Gato is saying that the educational system and schooling has an issue involving the control and predictability of children.First, Gato contemplates about schooling and the boredom involved. I agree that, in his view, there’s boredom involved in teaching. He states that during his time teaching, he asked the teachers why they felt bored, and they put the blame on the children. However, I don’t believe this one bit. I believe that individuals who take responsibility are not to be solely blamed. I think everyone involved in this kind of situation share the responsibilities for who’s bored.In this situation, it’s possible to say both the students and teachers are to blame for boredom, and no one is solely to take responsibility for that. From his standpoint, Gato believes that the education system controls the will of students. According to Gato, the true intentions of mandatory education are to turn children into servants. Gato refers to Alexander Inglis’s view of mandatory education. Within these concepts are six basic functions, and most of these functions are what control is in the education system.A few functions, for example, are the diagnostic and directive functions and the differentiating function. Respectively, one function states that the school evaluates each student’s â€Å"proper social roles† by logging evidence into cumulative records known as your â€Å"permanent record† while in the other function, children are sorted to each role after evaluation and trained in a systematic m anner. Another thing to point out is the predictability involved with the system of education.Alexander Inglis’s view of mandatory education has a basic function that represents this predictability. According to Inglis, this basic function of modern schooling is considered the integrating function, which intends to make children as the same as possible. I believe this can relate to the school uniforms that some schools still do. Personally, I don’t prefer to be as â€Å"alike† because I believe that everyone is naturally different in their wn way, so restricting the freedom for people with coerced conformity wouldn’t be entirely human. To recap, Gato focuses on the system of education and schooling involving with the controla and predictability of children that are being taught. I thought that going to schools meant that I would have to be educated in a social, organized way, but he gave me a perspective that I have not put a lot of thought into. Children are neither to blame nor the teachers. Sometimes the system of education is not what people think it is.

Psychology human development Essay Example | Topics and Well Written Essays - 500 words - 1

Psychology human development - Essay Example Identify the theorist (s) associated with cognitive development? The development of cognition in infancy starts when the child becomes aware of his surroundings and begins to explore it. The process of exploration however entails the use of intellect which is a product of adaptation and organization. For the child to adjust to his environment, assimilation and accommodation has to take place. On the other hand, a child is said to have organized his thoughts when he systematically combines structural schemes that are accompanied with ideas and actions. According to the theory of Piaget, the development of the child’s cognition undergoes different stages to include sensorimotor, preoperational, concrete, and period of formal operations. The child’s cognition becomes refined in each stage thus the child has different reasoning ability as he grows older. For instance, at age two months, the child thoughts are symbolic in nature without thinking of the consequences of his ac tions, as he reaches the next stage, he can associate single and simple words with objects until he can be able to use numbers, size and can relate to time and eventually he knows to reason out. 2.

The Romanesque churches And Gothic Cathedrals Period Essay

The Romanesque churches And Gothic Cathedrals Period - Essay Example In spite of the Gothic period coming after the Romanesque period, the two periods, however did not use similar elements in their architectural designs. The main ideology following the Romanesque churches and Gothic cathedral were the ideologies which were used in their construction. The age during the period was known as the middle ages and was synonymous with poverty. Due to the change in the way of life between these two periods, the architecture adopted also shared a number of similarities and differences. The ideology used in the construction of Romanesque architecture was based on centered on protection. An example is that during the period, monasteries served as shelters for relics and saints, hence the practices of the two groups serving as a basic purpose in the construction of different structures. On the contrary, architectural constructions adopted by the Gothic were big churches known as cathedrals. These buildings were designed with towers. The ideology behind such a des ign was to make the people believe further in a presence of an almighty being who were placed upwards towards divinity. The cathedral designed during the Gothic period was meant to symbolize the faith and dedication of the people towards their religion. Lastly, the spirituality practiced by individuals during the Gothic period was stronger as compared to individuals living during the Romanesque.The ideal majorly practiced during the middle ages period was one that was centered on classical background.

Recruitment Strategy and Job Offer Process Paper Research

Recruitment Strategy and Job Offer Process - Research Paper Example This paper will even provide insight regarding the best strategy of recruitment that organizations can use in order to attract the most desired applicants associated with their industry and, lastly, the paper will provide insight regarding how organizations proceed to offer a job to a selected applicant. Diverse Recruitment Strategies The term recruitment is used to refer to the process of attracting pool of desired applicants in order to fulfill the current vacant positions in a particular organization and even to maintain a pool of applicants for future vacancies. An organization has various recruitment strategies to choose from; organizations can opt between open as well as targeted recruitment strategies. Open recruitment strategies are used by organizations when they are looking to fill in quite a few numbers of different positions and even when these positions require different kinds of employees from various backgrounds. For example, a school looking to hire teachers, sports s taff and supervisors for the school may use open recruitment strategy as the positions that need to be filled require people with different KSAs (Knowledge, Skills and Abilities). Open recruitment strategies are even used by organizations when they are hiring employees for entry level positions and when specific individuals with specific KSAs are not desired. While hiring for entry level and trainee level positions, employees are less judged on their KSAs and decisions of hiring are mostly made on the basis of their communication skills and basic computing skills. For example, when a business is looking to fill management trainee positions in the organization, they use open recruitment strategy in order to attract individuals from different disciplines including marketing, human resources, accounting, etc. They do so because those individuals who are selected for these positions are provided exposure of all departments before they are finally selected in one of the departments. Anot her recruitment strategy used by organizations is targeted recruitment strategy. This strategy is utilized by organizations when they have specific requirements to meet for a particular vacant position (Hurd, Barcelona, & Meldrum 2008, p.243). These requirements include individuals having specific skills, educational background and level of experience. This strategy is even implemented when organizations adopt positive actions. A positive action refers to a company’s strategy of targeting specific people from a specific group which is regarded as a minority. For instance, while conducting recruitment activity for an electrical engineer, a company will post add for the position while attracting applicants who have expertise in technical equipment, who have knowledge of application and operation of different equipments of science and technology. Selecting Recruitment Strategy While deciding about which recruitment strategy to deploy, an organization has to take into considerati on the requirements of the vacant position(s) that need to be filled. If an organization is conducting recruitment while trying to attract employees with specific KSAs, they should opt for targeted recruitment strategy. Organizations have become quite selective while deploying recruitment strategies due to the negative economic circumstances. For example, a business is dealing in accountancy and a firm that provides auditing services may look

Planning Law Assignment Example | Topics and Well Written Essays - 1000 words

Planning Law - Assignment Example The industrial age played a very big role in reshaping population settlement. It caused more and more people to flock into cities looking for work. However, in the 21st century, the information revolution is probably the number one factor that is affecting the way people settle. The information revolution that has been caused by the increasing communication technology that started in the mid-seventeenth century has now come to change the way people settle. However, since information revolution is always under continuous development, it is hard to say exactly how it is affecting human settlement. For instance, originally, information technology was only available in and around cities and urban settlements. The way this affected human settlement is that people had to move to cities in order to access these services. In this regard, the information revolution can be said to be having the same effect that industrial revolution had on human settlement. However, as time goes on, informatio n revolution is changing, and it is now easier for people to access these services such as internet connection and cell phone networks, even in some of world’s remotest points. This factor combines with the fact that most people these days work online, mean that the people can now settle anywhere in the world and don’t need to go to cities or urban centers. ... However, since information revolution is always under continuous development, it is hard to say exactly how it is affecting human settlement. For instance, originally, information technology was only available in and around cities and urban settlements. The way this affected human settlement is that people had to move to cities in order to access these services. In this regard, the information revolution can be said to be having the same effect that industrial revolution had on human settlement. However, as time goes on, information revolution is changing, and it is now easier for people to access these services such as internet connection and cell phone networks, even in some of world’s remotest points. This factor combines with the fact that most people these days work online, mean that the people can now settle anywhere in the world and don’t need to go to cities or urban centers. Part II McAuslan2 (1980) is trying to indicate that planning law is still very crude an d that it does not help in making cities better. This viewpoint is wrong because the law has made sure that the freedom that individual and organizations had a hundred years ago is not there anymore, and this helps in protecting cities and the environment in general. Module 4 Journal The local government is a very important arm with regard to the enforcement of planning regulations and laws (Westen3 2009). Without these local governments, the many planning laws would be useless and it would be very hard to manage the real estate available to any cities. Local governments understand the local city best and they understand the concerns of the local people in the best way. For this reason, the local government would be able to help in making sure that the

Introduction to campylobacter Literature review

Introduction to campylobacter - Literature review Example 163–189). Since campylobacter is present in large quantities in stool, isolation may be considered from this point. However, it is important to note that isolation requires certain conditions of microphilic atmosphere and a media that contains antibiotics. Several methods have been developed to isolate campylobacter. One of them is the membrane filtration. This is used in isolating the microorganism from low turbidity water. Filters of pore size of 0.45 microns are used, and the water is passed as the platting is done face down for the selective agar for the campylobacter. The selective agar is described below in another isolation method. The filters in this process are removed after an overnight incubation. The streaking of plate for isolation before re-incubation then follows this. Prior lab tests have indicated that in the presence of pre-filtration with filters of pore sizes of 6.0 and 5.0 has consistent results of recovery of about 30 jejuni CFU per 250 ml of the seeded water that is nat ural (Line 1711–1715). The other method of isolation is the conventional cultural method. In the laboratory, the sampled specimen is prepared for isolation. If, for example, the sample of raw chicken, a sample of filtrated, chicken rinse water may be used. The water is taken and centrifuged at a rate 16000 times the weight for a period of ten minutes in a minimum temperature of 4 degrees. With an enrichment media of Preston broth, the supernatant is discarded while the pellet is suspended. After the sampled pellet is re-suspended, incubation of the sample at a microbic atmosphere that has 10 percent carbon dioxide, 5 percent oxygen and 85 percent nitrogen. All this happens at a temperature of 3 degrees for 24 hours. The enrichment broth is made consistent with the nutrient broth with supplementation including trimethoprim 10 mg/l, cefoperazone 15 mg/l, rifampicin 5 mg/l, polymyxin B 2500 iu/l and amphotericin 2mg/l. This enriched culture is then placed in

Mid-Term Essay Example | Topics and Well Written Essays - 750 words

Mid-Term - Essay Example this title, I will use the term children under concern to refer to children in the United States who include abandoned, orphaned or children separated from one or all of their parents. Before the Civil War, these children were used as servants. Many were traded and shipped to colonial America from England. Most of them provided labor in the farms in exchange for boarding and food. There was little government involvement in their welfare. Mostly they were held under the indenture system. A movement, congregate living movement, just before mid-eighteenth century, fought against the indenture system. The movement held that these children under concern be rehabilitated and mass housed in orphanages like charity-supported almshouse. The first of these facilities in North America got opened in Georgia and was termed â€Å"private orphan asylum†. Most of them were mostly funded by religious charities and mostly white children under age ten were taken in. When the American Revolutionary War ended, seven years in South Carolina there was established the first public orphanage. By this time private ones were being opened up in many places in the United States. In 1838 the Supreme Court of Pennsylvania in EX PARTE CROUSE, held that children have needs, not rights, and that the government has to ensure provision of education, protection and care needed by children including those under concern herein. Charles Loring Brace, considered the father of modern foster care, in 1953 founded the New York Children’s Aid Society (NYCAS). This was partly motivated by the fact that orphanages were getting overwhelmed. He oversaw transportation of the children under concern from highly populated to less populated regions of the country. This ran for seventy five years till before start of the Great Depression. Around 1875, states started passing child labor laws in their legislature and got more active in foster care. 1909 then saw the first national conference for children under

Customization Assignment Example | Topics and Well Written Essays - 3000 words

Customization - Assignment Example From this study ity is clear that service industry occupies an important position in the economy of the developing as well as the developed nations. Several studies related to the hospitality industry suggest that the gap between the customer expectation and customer perception can be closed by implementing new innovation in the quality of service. Most of the operating systems available in the travel, tourism and hospitality sector have a direct and immediate impact on the customer. The operations functions of hospitality sector include timely service, quality products and extremely good behaviour with customers. The service design and delivery of hospitality sector is broadly classified into standardization and customization of services. In the contemporary era, customization of products and services are highly valued by customers. In order to enhance the quality of service in hospitality sector, it is essential that customer judgments, outcomes, delivery and customer panels are gi ven importance. Proper marketing of brand is very important regarding hospitality sector. From this paper it is clear that the customers prefer to visit places that have high quality brand image as well as reputation in the hospitality market. The existing customer-base of hospitality sectors expects standardized quality regarding products and services. But, the consumers in the modern and contemporary era expect customized service design and service delivery process. This essay will argue for customized service design and service delivery processes are more demanding comparing to the standardized process. With respect to commercial hospitality, it is important that both standardization and customization factors of service design and delivery are enhanced. Travel, tourism and hospitality have several implications towards the management of operations. For standardizing design and delivery of hospitality services, the key factor is to deliver on the promise made to customers.  

Business Relationships Essay Example | Topics and Well Written Essays - 2500 words

Business Relationships - Essay Example Most business relationships contain elements of cooperation. In addition, business relationships include competition. Further, business relationships include Internal Demand Management, Also, business relationships include Relationship and Supplier Selection. Plus, business relationships include Customer Relationship Strategy. And, buyer-Supplier Negotiation. Further, most business relationships contain elements of cooperation. Often, the cooperation being companies in the same market segment starts before any formal agreement has been perfected. one company even developed the political power to try to solve some of its own business problems by searching and forging an alliance with other business organizations. It had to address some of the issues in terms of reversing its sales slowdown. Many companies will present their best assets and income generating plans to its prospective partner organisation in order to win its nod to the merger. Many companies enter into mergers and consolidations by contributing money industry and business secrets with the end in mind of distributing any profits among themselves after each accounting period ends (Child, and Faulkner 1998, 84). And, this means that many companies join mergers and consolidations by taking into consideration the structure and system that are to form the basic framework for bringing their strong business alliances to life. Many companies consider their prospective partners' complementary part in their business union by taking into consideration the assets, skills and the possible synergies that could crop up as result of the business union. Many companies take into consideration the culture of the other company interested to join a merger or consolidation. Many organisations enter into informal merger or combination with other companies in the same line of business. For, many partners want to have a fair and reliable business agreement with other companies. Many of these partnerships agree to have fair and reliable agreement. These business agreements generally include the division of profits, segregation customer base, and other related concerns that would result to a fruitful relationship. In short, one of the most important topics that businesses combining with other businesses discuss is the appropriate value given to assets, liabilities, capital, revenues and expenses (Child, and Faulkner 1998, 84). In addition, business relationships include competition. Many companies have launched their products in the market with the hope that they will be able to swallow a large portion of the competitors' market share in terms of products. The political economy approach often brings a health competition among the different companies engaged in the same kind of business. international business have joined together in order to increase their market share over their competitors in the business wold. Today, the business environment has been renovated and innovated in terms of urban setting. Many competitors have bonded together to improve the lives of the employees as a member of its fold as well as their families (Clark 1999, 133).Cooperation crosses many boundaries. The beneficiaries of the public goods come from many countries, age, sex, beliefs and other diversities. The cooperation between two companies include companies located in both the

Body armor Essay Example for Free

Body armor Essay Body armor and other protective equipment are vital components of with-in protection services because it shields the body from severe injury that may be associated with the nature of the job. Body armor and other protective equipment are generally designed to shelter the body from materials that come in with a particular velocity or force, such as bullets and knives. This man-made material is designed to prevent the entry that could result in the destruction of internal organs. The body armor prevents damage to the abdominal area of an individual, while the other protective equipment prevents injury to the extremities such as the arm and legs. When a material such as a bullet or a knife is introduced to a body with sheer force, the body armor prevents its entry yet the force still results in a form of shock to the body and this is technically called blunt trauma. There are two general types of body armor, namely soft and hard. Soft body armor is generally composed of one of two fibers, namely aramid and polyethylene that are configured in a particular weave. There are some brands that contain both types of fibers. Unfortunately, soft body armors can only protect an individual from the regular forces such as knives and bullets but are not sturdy enough to prevent bullets coming from machine guns. In this situation, hard body armors are employed for protection and these equipments are composed of plates made of ceramic material. Hard body armors are made of two plates that are positioned to cover the front and the back of an individual. Since ceramic plates are usually rigid, an individual may find this protective material heavy and movement may be restricted. DQ 2: The use of biological weapons has become an increased threat, and amplified since 911. What can we do to prepare for such an attack and or minimize the catastrophic aftermath? In order to be prepared for a possible terrorist attack that involves biological weapons, it is important that government agencies, especially those responsible for monitoring public health, to design contingency plans that would tackle incidents associated with the deliberate introduction of biological weapons to harm a specific population or even the general public. The contingency plan should also be a regular part of the health response system that also deals with pandemic outbreaks, large-scale accidents, as well as natural disasters. In 2002, the World Health Assembly of the United Nations adopted a technical support program that prepares each of the member states to prepare an action plan that would address any future catastrophes (WHO, 2004). For every city, it is important to create an initial response team that would take action whenever a terrorist attack occurs. This initial response team will determine the nature of the attack, on whether it is biological, industrial or bomb-based. The initial response team carries this exclusive responsibility because they are physically present in the city and it is very easy for them to go to the place that has been attacked in order to generate a first-hand account of the incident to higher authorities. Once the nature of the terrorist attack has been established, the initial response team will inform the state agency of the incident, which will in turn report to the national agency. This office will then report to the United Nations office for subsequent action, such as international assistance, in case that the country is incapable of dealing with the disaster, or if the attack is synchronized among several states, such as that depicted in September 11, 2001 in the United States. Biological attacks can also be minimized by vigilant screening of activities in every city and state around the country, including reporting any peculiar individuals that are spotted in strategic locations around the state. Reference World Health Organization. (2004). Public health response to biological and chemical weapons: WHO guidance, 2nd ed. Geneva: World Health Organization. ISBN 92 4 154615 8. Downloaded from http://www. who. int/csr/delibepidemics/cover. pdf on June 17, 2009.

Functional Multi-enzyme Complexes In Vitro

Functional Multi-enzyme Complexes In Vitro Molecular self-assembly offers a method of sophisticated materials constructed with precision. Designing self-assembling enzyme structures is of particular interest for the unique functional capabilities of enzymes, as shown in Figure 2. Chemically induced assembly has been shown to be a powerful tool for the investigation of cellular events and for its easy operation and low cost compared to bioconjuction. Chemical inducers can be cofactors, inhibitors, metal ions, which are based on specific interaction of molecule and enzyme. Chemical inducers bring the two enzymes together to form multi-enzyme. A number of reviews have covered the self-assembly of proteins and enzymes by chemicals. King N.P. et al discussed the principles employed in recent efforts to design complex and geometrically specific protein assemblies, with a focus on practical approaches. However, precise manipulation of protein self-assembly behavior in vitro is still a great challenge. Here we review recent studies i n the chemical induced self-assembly of multi-enzyme system from the perspective of multi-enzyme complex organization, enzyme interactions, and regulation of assembly. Inhibitor induced multi-enzyme assembly Inhibitor induced dimerization has been reported as the controlled dimerization of proteins via dimerizers. During the process of dimerization, the dimerizers assemble proteins into homospecific or heterospecific multivalent nanostructures. An enzyme inhibitor binds with enzymes specifically and decreases their activity. Drug discovery typically focus on the identification and design of inhibitors to perturb enzyme function, which greatly depend on the chemical structure. Carlson and co-workers reported self-assembly of wild-type Escherichia coli dihydrofolate reductase (DHFR) into protein nanorings using dimeric methotrexate molecules, which tethered together by a flexible peptide linker. The enzymes are capable of spontaneously forming highly stable cyclic structures with diameters ranging from 8 to 20 nm. The nanoring size is dependent on the length and composition of the peptide linker, on the affinity and conformational state of the dimerizer, and on induced protein-protein interactions. Chou reported the preparation of dihydrofolate reductase (DHFR)-histidine triad nucleotide nanorings by chemically induced self-assembly. DHFR molecules with fused peptide chain of variable length were spontaneously self-assemble into protein macrocycles after treatment with a dimeric enzyme inhibitor, Bis-MTX-C9. The ring size, ranging in size from 10 to 70 nm, was dependent on the length and composition of the peptide linking the fusion proteins. The enzymatic efficiencies for the monomer and intramolecular macrocycle were found to be nearly identical, while the larger dimeric nanoring was found to have a modestly lower kcat/Km value. The nanorings catalytic efficiency was dependent on ring size, which indicated that the arrangement of supermolecular assemblies of enzymes may be used to control their catalytic parameters. However, the activator used for multi-enzyme assembly has not been reported before, which can greatly improve enzyme activity and may have greatly potential in mu lti-enzyme biosynthesis. Cofactor induced multi-enzyme assembly Cofactor-dependent enzymes, such as oxidoreductases and transferases, intramolecularly assembly of enzyme subunits by cofactor binding have been widely reported. Cofactor as a small molecular for enzyme catalysis. Cofactors can also be used for inducing multi-enzyme assembly. Bis-NAD+ has been reported for affinity precipitation of dehydrogenases in 1980s. Mansson et al used bis-NAD+ analogue to locate lactate dehydrogenase and alcohol dehydrogenase face to face and then cross-linked of the two enzymes with glutaraldehyde on agarose beads. The study of site-to-site directed immobilization effect improve the NADH production from 19% to 50%, which indicated that the NADH was preferentially channeled to lactate dehydrogenase due to the positioned active sites of the two enzymes. Similar work reported by Siegbahn as the bi-enzyme complex was formed by crosslinking lactate dehydrogenase and alcohol dehydrogenase with glutaraldehyde, which indicated an enhancement of 1.36 fold of the NADH regeneration when lactate dehydrogenase and alcohol dehydrogenase were site-to-site oriented. Cofactor induced assembly can form the site-to-site oriented structure, has the advantage easy operation and maintains the enzymes’ activity maintain. However, the interaction of NAD+ with enzyme is relatively low. Cofactor analogues have been reported for enzyme catalysis, which have the advance of low cost and high stability. The improvement of cofactor analogues for multi-enzyme assembly is promising. Metal ions induced multi-enzyme assembly Metal ions guide proteins into forming large assemblies, which provide a wide platform to modulate the metal coordination environment through distant, noncovalent interactions, exactly as natural metalloproteins and enzymes do. Metal ions in metalloenzymes located in the pocket whose shape fits the substrate, which are usually coordinated by nitrogen, oxygen or sulfur centers belonging to amino acid residues. Since approximately half of all proteins contain a metal ion, metal ions induced enzyme assembly is a promising method. Metal ions induced protein assembly is recently hot topic. There are two main types of metal ions induced protein assembly, namely, metal ions chelating sites on the artificial His-tags of enzymes and chelating sites on the surface of enzymes. His-tagging is the most widespread strategy to purify recombinant proteins. With the addition of 4-10 poly-histidine tag to the N terminus or C terminus of a target protein, the tagged protein purification was achieved by immobilized metal affinity chromatography. Multi-enzyme complex were formed with the Ni2+ and bis-His coordination of GDH-NOX fused enzymes, which enhanced enzyme activity and stability for the biosynthesis of DHA from glycerol with cofactor regeneration.. Chelating sites on the surface of enzymes The metal ions coordinated with the chelating sites on the surface of proteins was reported. Chelating sites should be on the surfaces to coordinate with metal ions, and the interfaces where chelating sites are located should be complementary to form stable self-assemblies. Yushi Bai, et al [Bai, Y.S. et al. Highly ordered protein nanorings designed by accurate control of glutathione S-transferase self-assembly. J Am Chem Soc 135, 10966-10969 (2013). ]reported a variant of glutathione S-transferase (sjGST-2His) which has two properly oriented His metal-chelating sites on the surface self-assembled in a fixed bending manner to form protein nanorings. The accurate orientation of proteins and self-assembly was based on metal-ion-chelating interactions and nonspecific protein–protein interactions. This work provides a de novo design strategy for the construction of novel protein superstructures. The self-assembly of glutathione S-transferase into nanowires was also reported[Zhang, W. et al. Self-assembly of glutathione S-transferase into nanowires. Nanoscale 4, 5847-5851 (2012).]. Designed metal coordination interactions to arrange enzyme into highly ordered supramolecular architectures has been reported recently[Salgado, E.N., Radford, R.J. Tezcan, F.A. Metal-Directed Protein Self-Assembly. Accounts Chem Res 43, 661-672 (2010).].Enzymes represent particularly attractive building blocks due to their chemical and structural versatility, for new and improved supramolecular properties. Metal-directed enzyme self-assembly yields stable architectures and high catalysis efficiency. These emergent physical and functional properties are attained with minimal modification of the original building blocks Brodin reported the self-assembly of a designed variant of cytochrome cb(562) by zinc ion coordination to uniform 1D nanotubes or 2D arrays with very high chemical stabilities. Their metal-mediated frameworks was used as the templated growth of small Pt-0 nanocrystals. [Brodin, J.D., Carr, J.R., Sontz, P.A. Tezcan, F.A. Exceptionally stable, redox-active supramolecular protein assemblies with emergent properties. P Natl Acad Sci USA 111, 2897-2902 (2014).] Bogdan et al reported [Bogdan, N.D. et al. Metal Ion Mediated Self-Assembly Directed Formation of Protein Arrays. Biomacromolecules 12, 3400-3405 (2011).] the self-assembled inorganic–protein arrays by FeII complexation of protein-conjugated terpyridine units (ligand) to form well-defined and controllable size and structure. Residue-specific conjugation between the complexing unit (terpy) containing an activity-based probe and a corresponding active enzyme (papain) performed on this unique building block (ligand) leads to chemical species of unprecedented constitution. Metal ion induced assembly are controllable by environmental factors that affect the coordination or reactivity of the metal ion: the presence of the metal itself, external chelators, pH, and the solution redox state. Thus, metal ions can augment or provide all three essential properties of proteins as nature’s favorite build-ing blocks: structure, chemical reactivity, and stimuli- responsiveness. Metal ions are frequently found in natural protein-protein interfaces, where they stabilize quaternary or supramolecular protein structures, mediate transient protein-protein interactions, and serve as catalytic centers. Paralleling these natural roles, coordination chemistry of metal ions is being increasingly utilized in creative ways toward engineering and controlling the assembly of functional supramolecular peptide and protein architectures. Here we provide a brief overview of this emerging branch of metalloprotein/peptide engineering and highlight a few select examples from the recent literature that best capture the diversity and future potential of approaches that are being developed. Conclusions and Outlook Constructing functional multi-enzyme complexes in vitro by mimicking the natural enzyme complex has great biotechnological potentials in metabolic engineering, multi-enzyme-mediated biocatalysis, and cell-free synthetic pathway biotransformation. This review summarizes chemically assembling of multi-enzymes based on the affinity included by small molecular, namely, cofactor, substrate, inhibitor, and metal ions, et al. Distinctions were made based on the assembling driving force, structure of multi-enzyme complexes and mechanism of catalytic efficiency enhancement. Furthermore, the current challenges of multi-enzyme assembly in vitro induced by chemicals was addressed and gave an outlook on future developments. In this review, a classification of multi-enzyme assembly methods is proposed. Special emphasis is placed on the description of constructing functional multi-enzyme complexes by small molecular induced self-assembly. Assembling of multi-enzymes based on the affinity induced by small molecular, namely, cofactor, inhibitor, and metal ions were discussed. Furthermore, the advantage and disadvantage of each method from the reaction and process considerations are described. A variety of approaches for multi-enzymatic synthesis in vivo using biological systems or in vitro with isolated biocatalysts have been successfully used for the synthesis of complex molecules, especially the chiral chemicals which frequently are not readily accessible by chemical synthesis. In the long term, multi-enzyme processes will replace many chemically catalyzed processes. Biocatalysis today is growing not only in the fine chemicals and pharmaceuticals but also in the production of bulk chemicals. The relevant multi-enzyme catalysis processes have a significant potential for industrial application. Several challenges remain for multi-enzyme processes despite the strong drivers for greener and ever more effective chemical process technology.Multi-enzyme assembly into exquisite, complex, yet highly ordered architectures is challenging due to the complexity of enzyme structures and interactions. Consequently, the prediction of multi-enzyme complex configurations, the structure controlled assembly and the dynamic kinetic simulation of assembly process are also challenging. Current efforts aim at the prediction of multi-enzyme complex configurations as well as at nanoscale reconstruction, and control of cascade reaction. The design of multi-enzymatic systems based on the structure controlling and function prediction. In Nature’s hierarchy such design and engineering studies can provide useful information. New approaches that allow the controlled assembly of multiple enzymes at a nanometer scale with precisely structure and function will increase reaction rates and the efficie ncy of longer synthetic enzymatic cascades. Another frontier in multi-enzyme synthesis is the design of multi-step processes, involving mathematical modeling, process technology, and protein engineering. By viewing multi-enzyme assembly process in terms of structure and function relationship, it is possible to unify a diverse range of investigations, highlights their interrelationships, and see routes.

Issues with Strategic Marketing Management

Issues with Strategic Marketing Management Introduction This course is designed to help you understand and learn advanced principles of marketing and is aimed at marketing managers, or professionals who are working in business or commerce. Who have perhaps a qualification in marketing and several years experience of working in a marketing role, or managers who would like to increase their marketing knowledge. Part of the courses assessment of learning will involve you in undertaking an assignment based on a marketing strategy plan carried out in your own company/organisation. You will be given detailed guidance and advice about this element of assessment later in this workbook. Aims of the unit The aim of the unit is to identify and discuss key issues associated with marketing principles. The course is focused on strategic principles of marketing, which form an essential underpinning to an understanding of strategic marketing in action. The theoretical underpinning will be complemented by a series of short work-based activities. Objectives of the unit To equip you with the knowledge and skills to understand and interpret strategic marketing principles To provide you with practical experience of applying strategic marketing principles and preparing a strategic marketing plan within your own company/organisation. Learning outcomes On successful completion of this Unit you should be able to: Understand the strategic marketing process Recognise the importance of creating strategic advantage Produce a strategic marketing plan in your own company/organisation Understand the importance of developing a specific competitive position Strategic Marketing Management What does this workbook contain? This workbook contains a number of information and learning resources: Background and contextual information about strategic marketing management Key ideas, theories, concepts, structures, processes in relation to strategic marketing ‘Recall and review and ‘Activity points designed to engage you in reflection and action-focused thinking Case examples of strategic marketing in action Assessment You are required to write a 2,500-word assignment as follows: Prepare a strategic marketing plan for your own company/organisation, paying particular attention to creating and sustaining a competitive advantage over rival firms. Strategic Marketing Management How should this workbook be used? This workbook will direct your study throughout the learning experience. There are  six sections, designed to be studied sequentially. However, a good learning technique is to refresh your learning by re-reading, so you are recommend to read back and forth between sections whenever you feel the need. Each section deals with a different topic and, together with any associated activities, practical work or further reading, is designed to require approximately 20 hours of study. The workbook uses an interactive learning approach. This is achieved through the use of self-assessment questions and activities throughout the text. These will enable you to apply the concepts presented in the workbook and explore issues that extend your knowledge and skills. Preparing to use the workbook If you are new to the study of marketing and/or this study method, then we suggest it is worth you spending some time becoming familiar with its contents and approach to learning and development. This will enhance your own understanding of key ideas in strategic marketing management, and your ability to lead and facilitate the learning of others. Strategic Marketing Management Table of contents Title Page Unit 1 The strategic marketing process Objectives 5 Drivers of change 5 Corporate strategy/ Marketing interface 7 Strategic marketing plans 8 Summary 9 Unit 2 Marketing Information Systems Objectives 10 MIS and the use of strategic intelligence 10 Summary 14 Unit 3 Strategic intent Objectives 15 Strategic intent/vision and mission 15 Goals and objectives 17 Stakeholders 18 Summary 19 Unit 4 Creating strategic advantage Objectives 20 Approaches to developing strategic advantage 20 Alliances and networks 22 Declining and hostile markets 24 Strategic wear-out 25 Summary 26 Unit 5 Developing a specific competitive position Objectives 27 Strategic alignment process 27 Innovation and new product development 28 Strategic evaluation 31 Summary 32 Unit 6 Implementation and control Objectives 33 Implementation 33 Control 35 Summary 37 Strategic Marketing Management Unit 1 The core theme of this unit is the importance of market-led strategic change to ensure organisational success. Objectives By the end of this unit you will: Be able to discuss, and give examples of drivers of change Understand the relationship between corporate and marketing strategy Know the process and structure of marketing planning and be able to discuss the differences between strategic and tactical planning Drivers of change Change is inevitable and companies that wish to maintain a market-led approach must take into consideration both cyclical and evolutionary change when developing their marketing strategies. The rate at which the external environment changes varies according to the nature of the business but increasingly all organisations are facing escalating levels of change. Change is inevitable. To survive companies need to adapt and to convert the threats caused by the changing environment into opportunities in order to avoid strategic drift. Marks and Spencer is a prime example of a company that has not adapted to the changing customer demands and as a result has lost many of its loyal customer base. Case history Drivers of change Greenhalgh (2001) identifies the following drivers of change that have created challenges for companies over the last few years: Domestic businesses of any significance have become rare. They are now global, drawing on supply chains that transcend national boundaries and serving customers worldwide Customer expectations of quality have increased and are now applied to all goods and services, rather than just luxury goods Concern for the environment has become a major item on companies agenda. They now have to consider their environmental responsibility as well as their profits. Large institutional investors are exerting their influence on how organisations are managed Start-up companies play an important role in introducing innovative products and new ideas to the marketplace. Young, technologically-competent workers are drawn to these vibrant workplaces, making it harder for other companies to recruit and retain them Strategic Marketing Management Activity 1.1 Consider thedrivers of change outlined above. Identify the impact of these factors on your own company/organisation. What is strategy? The term strategy is probably one of the most used and often misunderstood terms in business. There is no universal definition of strategy and yet it is used extensively. Strategy has the same meaning whether we are discussing corporate, marketing, promotional or even advertising strategy: it is concerned with how we might achieve our objectives. The difference between each type of strategy relates to the level at which the strategy is being developed. Corporate strategy according to Johnson and Scholes (1999), is: â€Å"concerned with what types of business the company as a whole should be in and is therefore concerned with decisions of scope† whereas marketing strategy aims to transform corporate objectives into a competitive market position. The main role of marketing strategy is to differentiate products/services from those of competitors by meeting the needs of customers more effectively. Therefore, according to Drummond and Ensor (2001) marketing strategy can be characterised by: Analysing the business environment and defining customer needs Matching activities to customer needs Implementing programmes to achieve a competitive position relative to competitors Strategic management consists of three elements: Strategic analysis concerned with answering the question where are we now? This involves analysing the external environment, internal resources and capabilities and stakeholder expectations Strategic choice what are the options available and which is the most attractive? Strategic implementation often the most overlooked of strategy. It is concerned with allocating resources and turning the plans into action. This process can be as equally well applied to marketing strategy. Strategic Marketing Management The corporate strategy/marketing interface It is impossible to discuss marketing strategy without first putting it into the context of corporate planning. The relationship between corporate planning and marketing planning can best be explained by figure 1.1 below. It is helpful to think of these decisions sitting in a hierarchy with corporate planning at the top and marketing planning below it. The diagram also illustrates that, alongside marketing planning, plans should be developed for other functional areas of the business such as human resources management (HRM), logistics, and operations. The vision and mission will drive the overall direction of the company and the functional areas of business will all work towards achieving the corporate objectives. The vision and mission will be discussed in Unit 3 Strategic intent. Strategic Marketing Management Marketing strategy is concerned with three elements customers, competitors and internal  corporate issues as illustrated in Figure 1.2. Strategic marketing management has three major  phases: firstly, strategic analysis in order to answer the question where are we now? This will include external analysis of customers, competitors and the macro environment and internal analysis of corporate capabilities; secondly formulation of strategy in terms of creating and evaluating options and thirdly implementation where the strategies are translated into action. The three stages are not mutually exclusive and are not necessarily linear. In fact it is expected that there will be some feedback and amendments as the process progresses. Strategic marketing plans A strategic marketing plan is the means by which the strategy is communicated within the organisation. The structure and content of a strategic marketing plan will vary considerable between organisations. However, normally the following components are included: Current situation external and internal analysis Objective setting Strategy formulation Marketing programmes Implementation issues Control measures Strategic Marketing Management There is no one best format for a strategic marketing plan and organisations will develop their own frameworks that match the needs of their companies. Strategic marketing plans need to generate action and not just be filed away. They should also be sufficiently flexible to take into account the changing environment. Activity 1.2 Read a copy of your own organisations strategic marketing plan. Give your opinion on whether the strategies outlined in it have been actioned. Has the plan shown sufficient flexibility to take into account the changing environment. If the answer to 3. is no, how could the plan have been improved? Summary In this unit we have seen that: Organisations operate in a dynamic environment and therefore they have to take into consideration those external influences that will impact on their business. These influences are often referred to as drivers of change. In market-oriented organisations it is likely that marketing will be the largest contributor to corporate strategy. Corporate strategy is concerned with what types of business the company as a whole should be in, i.e. the scope of the business. Marketing strategy is concerned with transforming corporate objectives into a competitive market position. A strategic marketing plan is the vehicle by which the marketing strategy is communicated within the organisation. The structure and format of a strategic marketing plan will vary considerably between organisations. There is no one best structure. Strategic Marketing Management Unit 2 Marketing Information System (MIS) Introduction The focus of this unit is to understand how the use of marketing intelligence and key marketing information can assist marketing managers to produce an effective marketing information system which will assist marketing decision makers to return higher profits. Objectives Upon successful completion of this unit you will: Understand the strategic use of information Understand how a MIS can assist marketing managers to make key decisions Marketing information is a key requirement for any strategic marketing plan and therefore the development of effective management and marketing information systems is an important task for marketers. Senior marketing managers should not become too heavily involved in the details of the MIS and marketing research but should be concentrating on how to utilize the information in helping to understand the market and develop successful marketing programmes. Definition A Management Information System consists of people, equipment and procedures to gather, sort, analyze, evaluate and distribute timely and accurate information to marketing decision makers. The MIS begins and ends with marketing managers. First, it interacts with them to assess their information needs. Next, it develops the needed information from internal company records, marketing intelligence activities and the marketing research process. Information analysis processes the information to make it more useful. Finally, the MIS distributes information to managers in the right form at the right time to help them in marketing planning, implementation and control. Developing information The information needed by marketing managers comes from internal company records, marketing intelligence and marketing research. The information analysis system then processes this information to make it more useful for managers. Strategic Marketing Management Internal records Most marketing managers use internal records and reports regularly, especially for making day to day planning, implementation and control decisions. Internal records information consists of information gathered from sources within the company to evaluate marketing performance and to detect marketing problems and opportunities. The companys accounting department prepares financial statements and keeps detailed records of sales, orders, costs, and cash flows. The customer service department provides information on customer satisfaction or service problems. Research studies done for one department may provide useful information for several others. Managers can use information gathered from these and other sources within the company to evaluate performance and to detect problems and opportunities. Information from internal records is usually quicker and cheaper to get than information from other sources, but it also presents some problems. Because internal information was collected for other purposes, it may be incomplete or in the wrong form for making marketing decisions. For example, accounting department sales and cost data used for preparing financial statements need adapting for use in evaluating product, sales force, or channel performance. In addition, the many different areas of a large company produce great amounts of information, and keeping track of it all is difficult. The marketing information system must gather, organize, process and index this mass of information so that managers can find it easily and obtain it quickly. Marketing intelligence Marketing intelligenceis everyday information about developments in the marketing environment that helps managers prepare and adjust marketing plans. The marketing intelligence system determines the intelligence needed, collects it by searching the environment and delivers it to marketing managers who need it. Marketing intelligence comes from many sources. Much intelligence is derived from the companys personnel executives, engineers and scientists, purchasing agents and the sales force. However, company people are often busy and fail to pass on key information. It is important to realise that staff are intelligence gatherers, and they need to be trained to spot new developments and urged to report intelligence back to the company. The company must also persuade suppliers, resellers and customers to pass along important intelligence. Some information on competitors comes from what they say about themselves in annual reports, speeches, press releases and advertisements. The company can also learn about competitors from what others say about them in business publications and at trade shows. Or the company can watch what competitors do buying and analyzing competitors products, monitoring their sales and checking for new patents. Strategic Marketing Management Companies also buy intelligence information from outside suppliers. Dun and Bradstreet  is the worlds largest research company with branches in forty countries and a turnover of $1.26bn. Its largest subsidiary is Nielsen who sell details on brand shares, retail prices and percentages of stores stocking different brands. Marketing intelligence can work not only for, but also against a company. Kellogg used to allow the public to tour its plants but recently closed its newly upgraded plant to outsiders to prevent competitors from getting intelligence on its high tech equipment. Some companies set up an office to collect and circulate marketing intelligence. The staff scans relevant publications, summarizes important news and sends news bulletins to marketing managers. It develops a file of intelligence information and helps managers to evaluate new information. These services greatly improve the quality of information available to marketing managers. To summarise it is clear that a MIS has four main components: Internal records there is a wealth of information available within the organisation and it is essential that it is organised in such a way as to facilitate its usage. This may include sales data, customer orders, prices, stock levels, customer complaints, etc. Marketing research this is concerned with the systematic collection of information that is specific to a particular problem. For example, a piece of marketing research may be commissioned to investigate attitudes to a new advertising campaign. Marketing intelligence this may include any information that is collected on an ad hoc basis, such as competitor intelligence gleaned from the press, customer trends, registered patents etc. Marketing decision support systems the processes that convert the data into usable information. For example, statistical tools or modeling techniques. Activity 2.1 Write a short summary detailing how a MIS is used to support management decision making in your own company/organisation. Strategic Marketing Management Intelligence gathering: checking out competitors Competitive intelligence gathering has grown dramatically as more and more companies need to know what their competitors are doing. It is essential that managers are not myopic and spend time amassing information about their major competitors. Techniques that companies use to collect their own marketing intelligence fall into four major groups. Getting information from recruits and competitors employees Companies can obtain intelligence through job interviews or from conversations with competitors employees. According to Fortune magazine: ‘Companies send engineers to conferences and trade shows to question competitors technical people. Often conversations start innocently but engineers and scientists often brag about surmounting technical challenges, in the process divulging sensitive information. Getting information from people who do business with competitors Key customers can keep the company informed about competitors and their products. This information can be vital and can prevent a company from being left behind on product launches or price discounting strategies dreamed up by competing companies. Intelligence can also be gathered by infiltrating customers business operations. Companies can provide their engineers free of charge to customers. The close collaboration the engineers on loan enjoy with the customers design staff often enable them to learn what new products competitors are developing. Getting information from published materials and public documents Keeping track of seemingly meaningless published information can provide competitor intelligence. For example, the types of people sought in job adverts can indicate something about a competitors new strategies and products. Getting information by observing competitors or analyzing physical evidence Competitors can get to know competitors better by buying their products or examining other physical evidence. An increasingly important form of competitive intelligence is benchmarking, taking apart competitors products and imitating or improving on their best features. Companies should take advantage of publicly available information but they should avoid practices that might be considered illegal or unethical. Strategic Marketing Management With all the legitimate intelligence sources now available, a company does not have to break the law or accepted codes of ethics to get good intelligence. Activity 2.2 Write a short synopsis of how your own company/ organisation gathers intelligence on its competitors. Summary This unit has demonstrated that: Marketing intelligence is an essential component of an effective MIS Internal records are a vital source of information for marketing managers Senior marketing managers should be concerned with how to use the information generated from the MIS rather than with the details of the system Intelligence gathering can be carried out in various ways but it is important not to break the law or accepted codes of ethics Strategic Marketing Management Unit 3 Strategic intent Introduction The focus of this unit is to consider the aspirations and future plans of an organisation, and the components of a suitable mission statement and development of appropriate objectives. Objectives Upon successful completion of this unit you will: Be able to define the terms strategic intent / vision and mission statement Know the components of good mission statements Be able to discuss the development of appropriate objectives Strategic intent/vision and mission Strategic intent refers to the aspirations of an organisation rather than just its current activity. According to Aaker, strategic intent provides: â€Å"A long-term drive for advantage that can be essential to success. It provides a model that helps break the mould, moving a firm away from simply doing the same things a bit better and working a bit harder than the year before. It has the capability to elevate and extend an organisation, helping it reach levels it would not otherwise attain.† It is apparent that many organisations that have an appropriate and well-constructed vision are focused on the future and ways of continually attaining sustainable competitive advantage. A vision can help guide strategy, identify and maintain core competencies and provide inspiration and motivation to its managers and its employees by providing them with a sense of purpose. Hamel and Pralahad (1989) suggested that strategic intent combines: A dream that energizes the company (i.e. acts as a motivator) Implied stretch, (looks for new opportunities rather than relying on existing businesses) A sense of direction A sense of discovery Coherence to plans Definition Strategic intent/vision: The desired future state or aspiration of the organization. (Johnson and Scholes, 1999, p.243) Strategic Marketing Management Mission statements A mission statement is concerned with providing daily guidance rather than a vision of the future. According to Piercy (2000), in order for mission statements to contribute anything they must: Reflect an organisations core competencies and how it intends to apply and sustain them Be closely tied to the critical success factors in the marketplace Tell employees, managers, suppliers and partners what contribution is required from them to deliver the promise of value to the customer Definition Mission statement: A generalised statement of the overriding purpose of the organisation. (Johnson and Scholes, 1999,p241) Mission statements are influenced by a number of factors, such as the resource availability, the external environment, the core competencies of the organisation and the current preferences of its current chief executive and senior management. The extent to which the mission statement serves its purpose is influenced not only by the quality and relevance of the mission but also by how it is communicated to staff and other stakeholders. A successful mission statement is one that is wholly embraced and believed by staff. Just having a mission statement is insufficient, the staff must also buy into the idea. Drummond and Ensor (2001) suggest that successful mission statements should demonstrate the following characteristics: Credibility it must be realistic and believable Uniqueness not bland and generic Specific capabilities embrace core capabilities Aspirational needs to motivate individuals Activity 3.1 Write a brief critique of your own companys mission statement in the light of the above characteristics Strategic Marketing Management Goals and objectives The vision and mission provide guidance on the overall direction of an organisation. Objectives, whether corporate or marketing, are the expected outcomes of the strategy. Goals are often regarded as less specific than objectives and more difficult to measure. However, it is normally accepted that objectives should be SMART: Specific Measurable- expressed in quantifiable terms Acceptable to stakeholders Realistic- attainable Time bound- achievable within a certain time frame Definition Goals and objectives Goal general statement of aim or purpose Objective Quantification (if possible) or more precise statement of the goal (Johnson and Scholes, 1999,p14)) Activity 3.2 Critically review your companys key objectives using the SMART method There are many different types of objectives with which an organisation should be concerned. Drucker (1954) identified the following: Market standing e.g. market share objectives Innovation e.g. number of new products launched Productivity e.g. inputs compared with outputs such as increased sales whilst maintaining the same number of sales staff Physical and financial resources relating to the use of resources Profitability e.g. return on investment Manager performance and development performance criteria Employee performance and attitude loyalty Public responsibility e.g. reduce dependency on fossil fuels It is likely that many organisations will place greater weighting on some areas than others. For example, the Co-operative bank places great emphasis on their responsibility to the public in the form of their ethical banking policy. There may be a danger that some companies are preoccupied with productivity objectives and trying to improve the efficiency of existing activities without actually questioning whether they are doing the right things. Stakeholders A key consideration when developing strategic direction relates to an organisations various stakeholder groups. Stakeholders refer to all the different groups of individuals that are influenced and/or have influence on the activities of an organisation. Stakeholders have different expectations and can exert varying levels of influence over the organisation. It is important that organisations have a good understanding of the varying needs of their various stakeholder groups. There are three main groups of stakeholders: Internal stakeholders (employees, management) Connected stakeholders (suppliers, distributors, shareholders, customers) External stakeholders (community, government, pressure groups) Definition Stakeholders: Those individuals or groups who depend on the organisation to fulfil their own goals and on whom, in turn the organisation depends. (Johnson and Scholes, 1999, p213). The following figure illustrates an outline stakeholder map. Customers Banks/sources of finance Suppliers The local community Distributors Society at large Managers Employees Activity 3.3 Stakeholder map Draw a stakeholder map for your own organisation and consider the varying needs of each group and the implications on the organisations strategic direction. How does your organisation manage the differing expectations of each group? Strategic Marketing Management Summary This unit has shown that: Strategic intent relates to the aspirations of an organisation and is sometimes referred to as the organisations vision. An appropriate and well constructed vision can help guide strategy, identify and maintain core competencies and can act as a motivator for staff by providing them with a sense of purpose. Mission statements are more concerned with providing daily guidance rather than a vision of the future. They should reflect an organisations core competencies, relate to the critical success factors in the market and also inform employees and other stakeholders what contribution is required from them to deliver value to the customer. Issues with Strategic Marketing Management Issues with Strategic Marketing Management Introduction This course is designed to help you understand and learn advanced principles of marketing and is aimed at marketing managers, or professionals who are working in business or commerce. Who have perhaps a qualification in marketing and several years experience of working in a marketing role, or managers who would like to increase their marketing knowledge. Part of the courses assessment of learning will involve you in undertaking an assignment based on a marketing strategy plan carried out in your own company/organisation. You will be given detailed guidance and advice about this element of assessment later in this workbook. Aims of the unit The aim of the unit is to identify and discuss key issues associated with marketing principles. The course is focused on strategic principles of marketing, which form an essential underpinning to an understanding of strategic marketing in action. The theoretical underpinning will be complemented by a series of short work-based activities. Objectives of the unit To equip you with the knowledge and skills to understand and interpret strategic marketing principles To provide you with practical experience of applying strategic marketing principles and preparing a strategic marketing plan within your own company/organisation. Learning outcomes On successful completion of this Unit you should be able to: Understand the strategic marketing process Recognise the importance of creating strategic advantage Produce a strategic marketing plan in your own company/organisation Understand the importance of developing a specific competitive position Strategic Marketing Management What does this workbook contain? This workbook contains a number of information and learning resources: Background and contextual information about strategic marketing management Key ideas, theories, concepts, structures, processes in relation to strategic marketing ‘Recall and review and ‘Activity points designed to engage you in reflection and action-focused thinking Case examples of strategic marketing in action Assessment You are required to write a 2,500-word assignment as follows: Prepare a strategic marketing plan for your own company/organisation, paying particular attention to creating and sustaining a competitive advantage over rival firms. Strategic Marketing Management How should this workbook be used? This workbook will direct your study throughout the learning experience. There are  six sections, designed to be studied sequentially. However, a good learning technique is to refresh your learning by re-reading, so you are recommend to read back and forth between sections whenever you feel the need. Each section deals with a different topic and, together with any associated activities, practical work or further reading, is designed to require approximately 20 hours of study. The workbook uses an interactive learning approach. This is achieved through the use of self-assessment questions and activities throughout the text. These will enable you to apply the concepts presented in the workbook and explore issues that extend your knowledge and skills. Preparing to use the workbook If you are new to the study of marketing and/or this study method, then we suggest it is worth you spending some time becoming familiar with its contents and approach to learning and development. This will enhance your own understanding of key ideas in strategic marketing management, and your ability to lead and facilitate the learning of others. Strategic Marketing Management Table of contents Title Page Unit 1 The strategic marketing process Objectives 5 Drivers of change 5 Corporate strategy/ Marketing interface 7 Strategic marketing plans 8 Summary 9 Unit 2 Marketing Information Systems Objectives 10 MIS and the use of strategic intelligence 10 Summary 14 Unit 3 Strategic intent Objectives 15 Strategic intent/vision and mission 15 Goals and objectives 17 Stakeholders 18 Summary 19 Unit 4 Creating strategic advantage Objectives 20 Approaches to developing strategic advantage 20 Alliances and networks 22 Declining and hostile markets 24 Strategic wear-out 25 Summary 26 Unit 5 Developing a specific competitive position Objectives 27 Strategic alignment process 27 Innovation and new product development 28 Strategic evaluation 31 Summary 32 Unit 6 Implementation and control Objectives 33 Implementation 33 Control 35 Summary 37 Strategic Marketing Management Unit 1 The core theme of this unit is the importance of market-led strategic change to ensure organisational success. Objectives By the end of this unit you will: Be able to discuss, and give examples of drivers of change Understand the relationship between corporate and marketing strategy Know the process and structure of marketing planning and be able to discuss the differences between strategic and tactical planning Drivers of change Change is inevitable and companies that wish to maintain a market-led approach must take into consideration both cyclical and evolutionary change when developing their marketing strategies. The rate at which the external environment changes varies according to the nature of the business but increasingly all organisations are facing escalating levels of change. Change is inevitable. To survive companies need to adapt and to convert the threats caused by the changing environment into opportunities in order to avoid strategic drift. Marks and Spencer is a prime example of a company that has not adapted to the changing customer demands and as a result has lost many of its loyal customer base. Case history Drivers of change Greenhalgh (2001) identifies the following drivers of change that have created challenges for companies over the last few years: Domestic businesses of any significance have become rare. They are now global, drawing on supply chains that transcend national boundaries and serving customers worldwide Customer expectations of quality have increased and are now applied to all goods and services, rather than just luxury goods Concern for the environment has become a major item on companies agenda. They now have to consider their environmental responsibility as well as their profits. Large institutional investors are exerting their influence on how organisations are managed Start-up companies play an important role in introducing innovative products and new ideas to the marketplace. Young, technologically-competent workers are drawn to these vibrant workplaces, making it harder for other companies to recruit and retain them Strategic Marketing Management Activity 1.1 Consider thedrivers of change outlined above. Identify the impact of these factors on your own company/organisation. What is strategy? The term strategy is probably one of the most used and often misunderstood terms in business. There is no universal definition of strategy and yet it is used extensively. Strategy has the same meaning whether we are discussing corporate, marketing, promotional or even advertising strategy: it is concerned with how we might achieve our objectives. The difference between each type of strategy relates to the level at which the strategy is being developed. Corporate strategy according to Johnson and Scholes (1999), is: â€Å"concerned with what types of business the company as a whole should be in and is therefore concerned with decisions of scope† whereas marketing strategy aims to transform corporate objectives into a competitive market position. The main role of marketing strategy is to differentiate products/services from those of competitors by meeting the needs of customers more effectively. Therefore, according to Drummond and Ensor (2001) marketing strategy can be characterised by: Analysing the business environment and defining customer needs Matching activities to customer needs Implementing programmes to achieve a competitive position relative to competitors Strategic management consists of three elements: Strategic analysis concerned with answering the question where are we now? This involves analysing the external environment, internal resources and capabilities and stakeholder expectations Strategic choice what are the options available and which is the most attractive? Strategic implementation often the most overlooked of strategy. It is concerned with allocating resources and turning the plans into action. This process can be as equally well applied to marketing strategy. Strategic Marketing Management The corporate strategy/marketing interface It is impossible to discuss marketing strategy without first putting it into the context of corporate planning. The relationship between corporate planning and marketing planning can best be explained by figure 1.1 below. It is helpful to think of these decisions sitting in a hierarchy with corporate planning at the top and marketing planning below it. The diagram also illustrates that, alongside marketing planning, plans should be developed for other functional areas of the business such as human resources management (HRM), logistics, and operations. The vision and mission will drive the overall direction of the company and the functional areas of business will all work towards achieving the corporate objectives. The vision and mission will be discussed in Unit 3 Strategic intent. Strategic Marketing Management Marketing strategy is concerned with three elements customers, competitors and internal  corporate issues as illustrated in Figure 1.2. Strategic marketing management has three major  phases: firstly, strategic analysis in order to answer the question where are we now? This will include external analysis of customers, competitors and the macro environment and internal analysis of corporate capabilities; secondly formulation of strategy in terms of creating and evaluating options and thirdly implementation where the strategies are translated into action. The three stages are not mutually exclusive and are not necessarily linear. In fact it is expected that there will be some feedback and amendments as the process progresses. Strategic marketing plans A strategic marketing plan is the means by which the strategy is communicated within the organisation. The structure and content of a strategic marketing plan will vary considerable between organisations. However, normally the following components are included: Current situation external and internal analysis Objective setting Strategy formulation Marketing programmes Implementation issues Control measures Strategic Marketing Management There is no one best format for a strategic marketing plan and organisations will develop their own frameworks that match the needs of their companies. Strategic marketing plans need to generate action and not just be filed away. They should also be sufficiently flexible to take into account the changing environment. Activity 1.2 Read a copy of your own organisations strategic marketing plan. Give your opinion on whether the strategies outlined in it have been actioned. Has the plan shown sufficient flexibility to take into account the changing environment. If the answer to 3. is no, how could the plan have been improved? Summary In this unit we have seen that: Organisations operate in a dynamic environment and therefore they have to take into consideration those external influences that will impact on their business. These influences are often referred to as drivers of change. In market-oriented organisations it is likely that marketing will be the largest contributor to corporate strategy. Corporate strategy is concerned with what types of business the company as a whole should be in, i.e. the scope of the business. Marketing strategy is concerned with transforming corporate objectives into a competitive market position. A strategic marketing plan is the vehicle by which the marketing strategy is communicated within the organisation. The structure and format of a strategic marketing plan will vary considerably between organisations. There is no one best structure. Strategic Marketing Management Unit 2 Marketing Information System (MIS) Introduction The focus of this unit is to understand how the use of marketing intelligence and key marketing information can assist marketing managers to produce an effective marketing information system which will assist marketing decision makers to return higher profits. Objectives Upon successful completion of this unit you will: Understand the strategic use of information Understand how a MIS can assist marketing managers to make key decisions Marketing information is a key requirement for any strategic marketing plan and therefore the development of effective management and marketing information systems is an important task for marketers. Senior marketing managers should not become too heavily involved in the details of the MIS and marketing research but should be concentrating on how to utilize the information in helping to understand the market and develop successful marketing programmes. Definition A Management Information System consists of people, equipment and procedures to gather, sort, analyze, evaluate and distribute timely and accurate information to marketing decision makers. The MIS begins and ends with marketing managers. First, it interacts with them to assess their information needs. Next, it develops the needed information from internal company records, marketing intelligence activities and the marketing research process. Information analysis processes the information to make it more useful. Finally, the MIS distributes information to managers in the right form at the right time to help them in marketing planning, implementation and control. Developing information The information needed by marketing managers comes from internal company records, marketing intelligence and marketing research. The information analysis system then processes this information to make it more useful for managers. Strategic Marketing Management Internal records Most marketing managers use internal records and reports regularly, especially for making day to day planning, implementation and control decisions. Internal records information consists of information gathered from sources within the company to evaluate marketing performance and to detect marketing problems and opportunities. The companys accounting department prepares financial statements and keeps detailed records of sales, orders, costs, and cash flows. The customer service department provides information on customer satisfaction or service problems. Research studies done for one department may provide useful information for several others. Managers can use information gathered from these and other sources within the company to evaluate performance and to detect problems and opportunities. Information from internal records is usually quicker and cheaper to get than information from other sources, but it also presents some problems. Because internal information was collected for other purposes, it may be incomplete or in the wrong form for making marketing decisions. For example, accounting department sales and cost data used for preparing financial statements need adapting for use in evaluating product, sales force, or channel performance. In addition, the many different areas of a large company produce great amounts of information, and keeping track of it all is difficult. The marketing information system must gather, organize, process and index this mass of information so that managers can find it easily and obtain it quickly. Marketing intelligence Marketing intelligenceis everyday information about developments in the marketing environment that helps managers prepare and adjust marketing plans. The marketing intelligence system determines the intelligence needed, collects it by searching the environment and delivers it to marketing managers who need it. Marketing intelligence comes from many sources. Much intelligence is derived from the companys personnel executives, engineers and scientists, purchasing agents and the sales force. However, company people are often busy and fail to pass on key information. It is important to realise that staff are intelligence gatherers, and they need to be trained to spot new developments and urged to report intelligence back to the company. The company must also persuade suppliers, resellers and customers to pass along important intelligence. Some information on competitors comes from what they say about themselves in annual reports, speeches, press releases and advertisements. The company can also learn about competitors from what others say about them in business publications and at trade shows. Or the company can watch what competitors do buying and analyzing competitors products, monitoring their sales and checking for new patents. Strategic Marketing Management Companies also buy intelligence information from outside suppliers. Dun and Bradstreet  is the worlds largest research company with branches in forty countries and a turnover of $1.26bn. Its largest subsidiary is Nielsen who sell details on brand shares, retail prices and percentages of stores stocking different brands. Marketing intelligence can work not only for, but also against a company. Kellogg used to allow the public to tour its plants but recently closed its newly upgraded plant to outsiders to prevent competitors from getting intelligence on its high tech equipment. Some companies set up an office to collect and circulate marketing intelligence. The staff scans relevant publications, summarizes important news and sends news bulletins to marketing managers. It develops a file of intelligence information and helps managers to evaluate new information. These services greatly improve the quality of information available to marketing managers. To summarise it is clear that a MIS has four main components: Internal records there is a wealth of information available within the organisation and it is essential that it is organised in such a way as to facilitate its usage. This may include sales data, customer orders, prices, stock levels, customer complaints, etc. Marketing research this is concerned with the systematic collection of information that is specific to a particular problem. For example, a piece of marketing research may be commissioned to investigate attitudes to a new advertising campaign. Marketing intelligence this may include any information that is collected on an ad hoc basis, such as competitor intelligence gleaned from the press, customer trends, registered patents etc. Marketing decision support systems the processes that convert the data into usable information. For example, statistical tools or modeling techniques. Activity 2.1 Write a short summary detailing how a MIS is used to support management decision making in your own company/organisation. Strategic Marketing Management Intelligence gathering: checking out competitors Competitive intelligence gathering has grown dramatically as more and more companies need to know what their competitors are doing. It is essential that managers are not myopic and spend time amassing information about their major competitors. Techniques that companies use to collect their own marketing intelligence fall into four major groups. Getting information from recruits and competitors employees Companies can obtain intelligence through job interviews or from conversations with competitors employees. According to Fortune magazine: ‘Companies send engineers to conferences and trade shows to question competitors technical people. Often conversations start innocently but engineers and scientists often brag about surmounting technical challenges, in the process divulging sensitive information. Getting information from people who do business with competitors Key customers can keep the company informed about competitors and their products. This information can be vital and can prevent a company from being left behind on product launches or price discounting strategies dreamed up by competing companies. Intelligence can also be gathered by infiltrating customers business operations. Companies can provide their engineers free of charge to customers. The close collaboration the engineers on loan enjoy with the customers design staff often enable them to learn what new products competitors are developing. Getting information from published materials and public documents Keeping track of seemingly meaningless published information can provide competitor intelligence. For example, the types of people sought in job adverts can indicate something about a competitors new strategies and products. Getting information by observing competitors or analyzing physical evidence Competitors can get to know competitors better by buying their products or examining other physical evidence. An increasingly important form of competitive intelligence is benchmarking, taking apart competitors products and imitating or improving on their best features. Companies should take advantage of publicly available information but they should avoid practices that might be considered illegal or unethical. Strategic Marketing Management With all the legitimate intelligence sources now available, a company does not have to break the law or accepted codes of ethics to get good intelligence. Activity 2.2 Write a short synopsis of how your own company/ organisation gathers intelligence on its competitors. Summary This unit has demonstrated that: Marketing intelligence is an essential component of an effective MIS Internal records are a vital source of information for marketing managers Senior marketing managers should be concerned with how to use the information generated from the MIS rather than with the details of the system Intelligence gathering can be carried out in various ways but it is important not to break the law or accepted codes of ethics Strategic Marketing Management Unit 3 Strategic intent Introduction The focus of this unit is to consider the aspirations and future plans of an organisation, and the components of a suitable mission statement and development of appropriate objectives. Objectives Upon successful completion of this unit you will: Be able to define the terms strategic intent / vision and mission statement Know the components of good mission statements Be able to discuss the development of appropriate objectives Strategic intent/vision and mission Strategic intent refers to the aspirations of an organisation rather than just its current activity. According to Aaker, strategic intent provides: â€Å"A long-term drive for advantage that can be essential to success. It provides a model that helps break the mould, moving a firm away from simply doing the same things a bit better and working a bit harder than the year before. It has the capability to elevate and extend an organisation, helping it reach levels it would not otherwise attain.† It is apparent that many organisations that have an appropriate and well-constructed vision are focused on the future and ways of continually attaining sustainable competitive advantage. A vision can help guide strategy, identify and maintain core competencies and provide inspiration and motivation to its managers and its employees by providing them with a sense of purpose. Hamel and Pralahad (1989) suggested that strategic intent combines: A dream that energizes the company (i.e. acts as a motivator) Implied stretch, (looks for new opportunities rather than relying on existing businesses) A sense of direction A sense of discovery Coherence to plans Definition Strategic intent/vision: The desired future state or aspiration of the organization. (Johnson and Scholes, 1999, p.243) Strategic Marketing Management Mission statements A mission statement is concerned with providing daily guidance rather than a vision of the future. According to Piercy (2000), in order for mission statements to contribute anything they must: Reflect an organisations core competencies and how it intends to apply and sustain them Be closely tied to the critical success factors in the marketplace Tell employees, managers, suppliers and partners what contribution is required from them to deliver the promise of value to the customer Definition Mission statement: A generalised statement of the overriding purpose of the organisation. (Johnson and Scholes, 1999,p241) Mission statements are influenced by a number of factors, such as the resource availability, the external environment, the core competencies of the organisation and the current preferences of its current chief executive and senior management. The extent to which the mission statement serves its purpose is influenced not only by the quality and relevance of the mission but also by how it is communicated to staff and other stakeholders. A successful mission statement is one that is wholly embraced and believed by staff. Just having a mission statement is insufficient, the staff must also buy into the idea. Drummond and Ensor (2001) suggest that successful mission statements should demonstrate the following characteristics: Credibility it must be realistic and believable Uniqueness not bland and generic Specific capabilities embrace core capabilities Aspirational needs to motivate individuals Activity 3.1 Write a brief critique of your own companys mission statement in the light of the above characteristics Strategic Marketing Management Goals and objectives The vision and mission provide guidance on the overall direction of an organisation. Objectives, whether corporate or marketing, are the expected outcomes of the strategy. Goals are often regarded as less specific than objectives and more difficult to measure. However, it is normally accepted that objectives should be SMART: Specific Measurable- expressed in quantifiable terms Acceptable to stakeholders Realistic- attainable Time bound- achievable within a certain time frame Definition Goals and objectives Goal general statement of aim or purpose Objective Quantification (if possible) or more precise statement of the goal (Johnson and Scholes, 1999,p14)) Activity 3.2 Critically review your companys key objectives using the SMART method There are many different types of objectives with which an organisation should be concerned. Drucker (1954) identified the following: Market standing e.g. market share objectives Innovation e.g. number of new products launched Productivity e.g. inputs compared with outputs such as increased sales whilst maintaining the same number of sales staff Physical and financial resources relating to the use of resources Profitability e.g. return on investment Manager performance and development performance criteria Employee performance and attitude loyalty Public responsibility e.g. reduce dependency on fossil fuels It is likely that many organisations will place greater weighting on some areas than others. For example, the Co-operative bank places great emphasis on their responsibility to the public in the form of their ethical banking policy. There may be a danger that some companies are preoccupied with productivity objectives and trying to improve the efficiency of existing activities without actually questioning whether they are doing the right things. Stakeholders A key consideration when developing strategic direction relates to an organisations various stakeholder groups. Stakeholders refer to all the different groups of individuals that are influenced and/or have influence on the activities of an organisation. Stakeholders have different expectations and can exert varying levels of influence over the organisation. It is important that organisations have a good understanding of the varying needs of their various stakeholder groups. There are three main groups of stakeholders: Internal stakeholders (employees, management) Connected stakeholders (suppliers, distributors, shareholders, customers) External stakeholders (community, government, pressure groups) Definition Stakeholders: Those individuals or groups who depend on the organisation to fulfil their own goals and on whom, in turn the organisation depends. (Johnson and Scholes, 1999, p213). The following figure illustrates an outline stakeholder map. Customers Banks/sources of finance Suppliers The local community Distributors Society at large Managers Employees Activity 3.3 Stakeholder map Draw a stakeholder map for your own organisation and consider the varying needs of each group and the implications on the organisations strategic direction. How does your organisation manage the differing expectations of each group? Strategic Marketing Management Summary This unit has shown that: Strategic intent relates to the aspirations of an organisation and is sometimes referred to as the organisations vision. An appropriate and well constructed vision can help guide strategy, identify and maintain core competencies and can act as a motivator for staff by providing them with a sense of purpose. Mission statements are more concerned with providing daily guidance rather than a vision of the future. They should reflect an organisations core competencies, relate to the critical success factors in the market and also inform employees and other stakeholders what contribution is required from them to deliver value to the customer.