Weighted Average Cost of Capital and Yeats

Extra Credit Assignment: Yeats Valves and Controls Inc. Completed as a Group with the Following Individuals: (in alphabetical order by last name) Adetunji Adeniyi Tung F. Cheng Gregory Chiu Rashmin Patel WenHao Zhang Course Title: Accounting and Finance Course No. /Section: MG6093 Instructor: Frank X. Apicella November 28, 2012 Yeats Valves Question The following are questions which should focus the groups on important aspects of the Yeats Valves case. Note the actual case name is Yeats Valves and Controls, Inc. The case number is UV0094.There is also a spreadsheet – that number is UV0184. As mentioned   – the corresponding case is TSE  International Corp. – case # UV0114. 1. What is the situation that this company faces? Yeats Valves and Controls, Inc. is currently considering a merger with TSE International Corporation. The founder, who is Chair and CEO, W. B. â€Å"Bill† Yeats, is about to reach his 62nd birthday and does not have a succession plan. He is concerned with the future of his company as none of the other executives can take his place because they are all specialists.Bill Yeats believes that TSE can provide stability to Yeats as he is reaching retirement, and TSE is a larger company with better marketing and global distribution channels. However, he is concerned with the fit of the two companies even though he thinks TSE is a better partnership than other alternatives. 2. What are the strengths and weaknesses of Yeats and its counterparty, TSE? Unlike TSE, which is more global-oriented with indirect distribution channels, Yeats has a stronger national and direct distribution channel.TSE has a larger mass market production system (high volume) while Yeats has a more customized market production (lower volume). In addition, Yeats has a strong R&D, having many patents for multiple applications, particularly with its latest development of the Widening Gyre Program that has a high-profile government contract. This might not be reflected in the stock of the company as a growth opportunity. 3. Why should Yeats and TSE want to negotiate a merger deal?Yeats is considering this merger deal because it would offer a succession plan for the company as TSE is a much larger company that can offer Yeats financial stability without having Yeats to identify new capital (debt and equity) on its own to fund the Widening Gyre Program (an advanced hydraulic-controls system). Yeats needs additional funding in order to continue the R&D of the Widening Gyre Program. Also, TSE has the expertise of mass manufacturing that Yeats need for widening its reach in commercialized distribution.In order to maintain a competitive edge, Yeats need both the finance and manufacturing capabilities of TSE as other competitors in the same industry have been consolidating more and more. However, Bill Yeats is concerned about losing voting control from a merger with TSE. He also wants to ensure that Yeats employees are kept after the mer ger and its stockholders gain value from the merger. He wants TSE to continue the R&D and commercialization of the Widening Gyre Program; and for him to stay on as head of Yeats until TSE can fully operate Yeats by ffering him a reasonable bonus plan. Though Bill Yeats could turn to another company, Rockheed Marlin, a large defense contractor, or other companies, he prefers TSE because he is familiar with TSE and they have complementary needs. Bill Yeats also ruled out a joint venture with TSE because he felt it was an inferior alternative as it will have the same integration issues. To reduce tax obligations, Yeats and TSE want to complete the merger in a stock-swap deal. 4. Use valuation analysis to determine the valuation of Yeats. What are the key value drivers?As mentioned above – Note the Harvard web site has a student spreadsheet for Yeats Valves that you  should  use as the basis for your analysis. Questions are contiinued below – One way of determining val uation of Yeats is through WACC, the Weighted Average Cost of Capital. It is the minimum return a company needs to earn in order to satisfy its investor base (as weighted for the amount of debt vs. equity in the target/capital structure), which is what the company must pay investors to raise new financing to support new projects or ventures.WACC is particularly useful here because Yeats has no debt, thus, it is an equity financed company. In the case of Yeats, the company must have capital to continue to develop and market its new Widening Gyre Program. The formula for WACC = Re (E/V) + Rd (D/V)(1-t) However, because Yeats does not have debt, the second half of this formula, Rd(D/V)(1-t) is not necessary. Being that Yeats has zero debt, the value of its equity is in full, which represents its Enterprise Value. Tax (t) is determined in the case as 40% or . 40 (p. 5).We must then calculate the CAPM for the cost of equity (see Excel sheet for details): Re = Rf + Beta (Rm-Rf) Re = Requi red Return on Equity Rf = Risk Free Rate = 5. 98 (p. 16) Beta = Measure of Risk relative to the general market (volatility) = 1. 5 (p. 5) Rm-Rf = Equity Market Risk Premium (EMRP) = 5. 5 (p. 16) Rm = Market Risk Rf = Risk Free Assets (U. S. treasury security) With Beta at 1, the stock price changes in precise tandem with the market, but with Yeat’s beta at 1. 5, it is more risky than a group of peer stocks. Thus, Re = Rf + Beta (Rm-Rf) Re = 5. 98 + 1. 5 x 5. 5Re = 14. 23%, the cost of equity at for Yeats Then calculate WACC = Re (E/V) + Rd (D/V)(1-t) WACC = 14. 23 (100%) + 0 (0%) (1-40%) WACC = 14. 23% Addtional Questions for Yeats / TSE cases 5. What do you believe Yeats valves is worth? What key financial assumptions determine the range of high and low values in your valuation analysis? Also, draw on any other valuation approaches and information that you can. With WACC = 14. 23% Assuming Terminal Growth Rate = 4% 1) Terminal Value (or present value at a future point) with $ represented in 1,000 = $7059. 8 (1+4%) (14. 23% – 4%) $71771. 1 = $72 million 2) DCF (Discounted Cash Flow calculated using a financial calculator): CF0 = 0 CO1 = 4689. 3 CO2 = 4584. 3 CO3 = 5302. 1 CO4 = 6127. 4 CO5 = 78830. 9 I = 14. 23 NPV = 55306. 17 NPV = $55. 306 million 3) Equity Value= 55,306,170 Minus Debt= 0 Divided by Outstanding Shares = 1,440,000 or $55,306,170 1,440,000 Equity Value per Share = $38. 407 per share Other valuations can include comparing P/E ratios with other peer companies. Also comparable are Price/Revenues, Price/EBIT and Price/EBITDA. See exhibits 8 and 9 for comparable Ratios of Peer Firms. 6.What are the advantages and disadvantages of a combination between Yeats and TSE Int? The advantages of combining Yeats with TSE would be that Yeats can offer R&D expertise that TSE lacks, and TSE can offer manufacturing and marketing expertise that Yeats lacks. With TSE’s commercialized global reach and Yeats’ national government contract s, it would be expected that there would be financial synergies that would benefit both companies in the long-term, including cost savings from greater purchasing power for materials and components, and application of TSE’s Six Sigma for higher quality control savings.This would increase value to stockholders of both organizations and offer diversification. However, the disadvantage would be that the two companies operate differently and will have to find a common ground that would allow them to merge their cultures. One of the concerns mentioned in the case is that Yeats has a more entrepreneurial operation that might not fit TSE. Both companies will have to be open-minded to learn each other’s methods of operations. 7. What risks do TSE Int. and Yeats Valves face in the proposed merger?Consider a range of transaction, financial and operating risks. What effect do these risk factors have on the value of Yeats Valves? In the proposed merger, TSE will not want to over p ay for the proposed merger while Yeats will not want to be under-valued in the stock swap. Yeats has a concern that TSE may under-value its Widening Gyre Program, which could be under-estimated by the market price. Bill Yeats wants to stay on to operate Yeats after the merger with a bonus and return to R&D rather than focusing on raising capital.TSE has to know how much value such a transaction will offer TSE being that TSE has very little experience in financing R&D. Both companies must consider their differences in operating cultures and the risks involved over the long-term viability of the two companies. TSE must consider how long they will have Bill Yeats as he is nearing retirement at a time when TSE might need Bill Yeats to maintain the success of this merger. What long term bonuses may be required to attract Bill Yeats to remain, and what succession plan might TSE have to come up with for Yeats Inc.?These are all risks to both parties. 8. Develop a negotiating strategy i. e. , an opening asking price to sell your company – Yeats – as well as the price below which you would walk away from the deal. Justify your ‘drop dead’ or walk away price. Being that the Terminal Value is at $72 million, we would ask to sell Yeats to TSE at that opening price. However, in calculating the Discount Cash Flow Value with Net Present Value at $55 million, this would be the drop dead price we would walk away from the deal.A value between these ranges would be preferred, as the minimum ($55 million) represents the equity value of Yeats and the maximum ($72 million) represents the future value of Yeats. In addition to the price negotiations, we would also negotiate social terms (as suggested by Bill Yeats). This includes for Yeats’ employees not to be terminated after the merger and Bill Yeat to remain as head of Yeats with bonuses (five year options to purchase 80,000 shares of TSE stock at 90% of market price at the close of acquisition, a nd an incentive bonus of $50,000 to $200,000 per year).

Outine Presentation Essay

Introduction I. According to a report by United Nations Educational, Scientific and Cultural Organizations, India has the highest population of illiterate adults at 287 millions amounting to 37% of the global total. II. By using of some my research, I would like to share with all of you the topic that I interest which is the facts of illiteracy. III. Today, I would like to focus on three interrelated issues which are causes, effects, and prevention of illiteracy. (Transition: Now, let’s start by taking a closer look at the problem) Body I. There are several different causes as to why illiteracy is such a problem in certain countries. A. About 29.8% of our population lies below the National Poverty Line which indicates they are do not have access to basic requirements of essential commodities including food and water. 1. Education is one of the luxuries that they cannot afford. 2. Mostly, majority of population in countries suffer from high percentage of illiteracy comes from poor people. 3. They will let their children to escape from school and go to labour for work to collect money and help them in life costs. B. Individual disabilities are person who has physical or mental conditions that do not allow them to educate themselves easily. 1. For example, a dyslexic child will find it hard to remember the letters of the alphabet and to interpret it. 2. A blind child also difficult for them to read without assistance. (Transition: Now, ladies and gentlemen I will explain my next point) II. Illiteracy has given some effects towards countries and people involved. A. These can make the countries develop slowly. 1. As a result of illiteracy, people find it so difficult to have a job without the ability of reading or understanding simple documents. 2. Therefore, the illiterates become a burden of society causes to make the nation poorer. B. Illiteracy also effects on people in the society. 1. Illiterate parents cannot get good jobs to support their family and this  will turn affects their lifestyle and their needs. 2. This also will lead to their children where their children get many of parents’ views and ideas to survive. 3. If parents do not feel that education is an important of success, these feelings will be carried over to their children. (Transition: As causes and effects of illiteracy, I will continue to discuss about how to prevent illiteracy) III. We have to cooperate to clear this problem which is holding back. A. Parents play important roles to educate their children. 1. According to Kerka, 2003 learning styles, learning disabilities and life experience may all contribute to low academic achievement or problem behavior. 2. Parents need to educate their children at an early age, so their children do not fall behind in recognizing letters and words. B. Opening new modern training centers. 1. As we know, it is difficult for persons in their 40s to 60s to use the same educational method as used for children. 2. It is also to help individual disabilities to educate further. 3. By using technology and modern education theories helps everyone inside educational progress. Conclusion I. As we see, illiteracy is a social evil that shall encircle our country in darkness and downfall if not curbed. II. As you know, I have focused on causes, effects, and prevention of illiteracy. III. What I have mentioned before about Kajani should be take strict action to make sure they can be an educated person. IV. It is also to make sure the statics I tell before can be release.

Why We Hate the Dumb Kids.

Magazine, or K Magazine, they wont read it. They can't spell. They spell in text. OMG, TTYL, etc. , They spend all their time playing online games and admiring each others Faceable lives. Its the truth simply put. The problem is much worse than you think. Not long ago, a high-school teacher in California handed out an assignment that required students to use a ruler ? and discovered not a single one of them knew how.I read that In an online article about â€Å"Kids these days† . What does that say about our society? What does that say about us? We as parent's are the ones ultimately responsible for encouraging our children's thinking and engaging ablest aren't we? Or have we dropped the ball and relied on the school system again. One English teacher actually denounced any textbook reading and suggested watching the movie! That's Insane. People wonder why homecomings has become more and more common these days, that's why.Its the parent's lack of Involvement In their children da y to day lives cause we too have put too much pressure on ourselves to make that effort to know that â€Å"Johnny† is being educated and we are doing everything we can to assist he properly utilizes all the tools he is given to learn with. Yes, it may be easier to watch a Youth video that will demonstrate in verbatim how to reprogram your Phone to albeit mode but if you were asked to demonstrate it on paper, these kids would be dumbfounded. We need to be more involved and help structure their theories of the now and impatient ways of learning versus actually learning.

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Globalisation and Fragmentation - Essay Example Nevertheless, certain fundamental questions come to mind regarding globalisation and how it addresses human need in this century. Even more important is the question as to how the world can fair on without the essentials of globalisation. Thomas Friedman in his book â€Å"The world is flat† argues on the account that globalisation is the only panacea to address the conflicts often realised in the world. He highlights the important case of the global supply chains through which goods and services reach people across the world irrespective of the manufacturing places (Friedman 586). It certainly does appear that globalisation has helped solve some of the conflicts that were often realised in the world in the early days. Indeed, the case of China and Taiwan presents a very chilling account of how this interrelatedness can help address conflicts in the world. The problems of this age have made countries across the world to be dependent on one another. As such, no country can effic iently survive on its own devices without support or trade from other countries. Conflicts are known to hinder the process of international relations and trade across the world. No country wants to lag behind as the whole world gets ahead in development through globalisation. It therefore implies that the global supply chains realised in the manufacturing processes and consumption of goods and services across the world. In the same vein, investment is normally a function of the favourable conditions existing in the country. Investment and business activities have made many countries to be friends on technical grounds. Countries that were once enemies like India and Pakistan have become friends courtesy of the relations brought by trade and investment supply chains. Friedman is certainly right in the argument that wars and conflicts can substantially be mitigated in the world through the proper management of globalization. Several cases across the world serve to prove this fundamenta l fact. Many countries have begun to realise the devastating effects of war and how a modern war becomes expensive to fund. In that regard, hitherto sour relations have been transformed into friendship for the benefit of the participating countries. Supply chains across the world have enabled business and production activities to thrive in many places. For instance, globalisation has enabled Dell to produce computers in many parts of the world which are then shipped across all corners of this world. As such, a country that benefits from globalisation might not want to jeopardise such favours merely by engaging in war with another country. Nevertheless, Friedman never fails to mention the devastating effects of globalisation and how the global supply chains can be used to bring terror and suffering to humanity. Terror gangs across the world basically rely on effective supply chains in different parts of the world from which coordination of terror activities takes place. These groups rely on efficient networks which are facilitated by the simplicities created by globalisation and the benefits of modern global systems to successfully manage and cause terror across the world while management and organisation is conducted from a centralized location. In a way, it confirms the very fact that globalisation is a double edged sword. William Duiker seems to oppose the views of Friedman regarding the concept of globalisation.

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How to make a new friends - Essay Example Getting more out of the current relationship and meeting entirely new people can go a long way because many people find it uneasy to access potential new friends. According to â€Å"Better Health Channel† meeting new friends requires an individual to have lots of potential friends around them and make effort to know and understand them on a daily basis (Web). Pulling out of day-to-day routine is essential in meeting new friends especially by participating in hobbies or communities where one can naturally meet new people. Getting involved in people-oriented activities may help in knowing new people sharing many things in common as yours. Meeting someone new for the first time initially requires that you talk to them about common things such as weather, hobby, politics or a sporting event (Rubin Web). Initiating small talk naturally may help in giving a good impression to the person who will in turn be free to share with you because you are approachable. There must be a consistent style of contacting the person even after the first impression because meeting afterwards strengthens the relationship and enables the two becoming more close to each other. Another best way of maintaining a closer relationship is constant communication through cell phone and social networking although face to face is the sure way to improve relationship into a new friend. According to Rubin, inviting potential friends to do something together or hanging out and doing something outside of the situation you met may is an important experience in strengthening the relationship (Web). Although most people may find it a little hesitant to invite people out because it is a little scary at first and because of risk of rejection, it is not as bad as asking someone out on a date; it is much simpler. It also depends mostly on how you met since some people may be invited out fairly while others may be waited for a while, for example a month before

Heritage Films Essay Example | Topics and Well Written Essays - 1500 words

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Facebook Marketing Should Be Used For Business Research Paper

Facebook Marketing Should Be Used For Business - Research Paper Example Therefore, Facebook is one of the marketing tools that organizations can apply to advertise their products, and inform their customer on their brand offering. Nevertheless, there are advantages and disadvantages associated with the use of Facebook as a marketing tool for organizations. Thus, this discussion seeks to analyze the application of Facebook as a marketing tool for businesses. First, the greatest advantage offered by Facebook marketing for business is its accessibility to many prospective customers. Facebook hit one billion active users by September 2012, creating a platform that has among the highest number of people interacting throughout the world (One Billion Factsheet, n.p.). Therefore, the application of Facebook as a Marketing tool for business will be advantageous, considering that it will be possible for the business to reach many customers, since Facebook offers the platform where a business can interact with over one billion customers in form of individuals, grou ps and corporate, thus providing the best target market platform that any business can reach. (Treanor, n.p.). In addition, by September, 2012, Facebook reached a high of 140.3 billion active subscribers with friendship connections throughout the world, making Facebook one of the interconnected platforms that any business can apply to advertise its products, and thus reach many customers, through the friendship interconnections (One Billion Factsheet, n.p.). Further, Facebook has become a major trend in the world, with the 2012 Social Media Marketing Industry Report indicating that 94% of all organizations that have an advertising department are utilizing social media as one of their major marketing tool, with 60% of such business dedicating time that is equivalent to full day, in developing social media marketing, as well as maintaining it (Bosari, n.p.). Secondly, in addition to being a highly accessible social networking platform, Facebook combines the advantages of word-of-mouth advertising with the ability to interconnect links and thus enable the prospective customers to view the advertisement, as well as the news related to the business, its products and services (Kang, 22). Word-of-mouth advertising remains one of the most effective advertising mode that customers are well acquitted with, and Facebook allows individuals to share information regarding the existence of a business and its products through sharing such information, using the share option that is offered by Facebook, where individuals can share any useful information with their friends who are on the same social media network (Treanor, n.p.). Therefore, Facebook offers an opportunity where businesses can create a fan page, and then share the same with people and groups who are on the same social network or even those who are in other different social networks, thus building up an interconnection that would allow the company, its brand and services to be viewed by millions of customers, who will in turn make purchase decisions regarding the same, based on the information provided by the business in their fan page (Bosari, n.p.). The other reason why Facebook should be used by businesses for marketing is the fact that; it is one of the few marketing tool that combines the advantage of visual, audio and written media, making it one of the favorite platform for advertisers (Kang, 47). When most of the mass and print media offers either audio-visual or print advertisement, Facebook combines

Human Resources - Compare and Contrast Interview Paper Essay

Human Resources - Compare and Contrast Interview Paper - Essay Example The individuals have been chosen for the study based on the fact that they have been involved in the core human resource activities for a significant number of years and have gained substantial knowledge and expertise on the subject too. The topic chosen for the study is compensation and the problems that employees face with regards to the same. The interview questions are prepared with the aim to bring forth the opinion of the two managers with regards to the effectiveness of the compensation policies in their organizations in terms of employee and organizational performance. The questionnaire is designed to help the two organizations make analysis of their respective human resource practices. Also the compensation package of employees is perceived as the value organization assign to their employees. An analysis of the same would reveal the employees’ worth in the organization as valuable assets. Comparison and Contrast of Interviews Various factors came forth with regards to the compensation structures of the two organizations and how satisfied were the employees with the compensation structure and policies of the organization.... Also considering the improvements in then labor markets, organizations have been driven towards the upliftment of the salaries of employees. Employers failing to do so confront with various human resource problems, such as dissatisfied and de-motivated employees, employees’ resistance towards work and their jobs. From the responses that follow, it is apparent that the former organization considers the industrial standards at the prevailing time before setting the salaries of employees. However, the latter sets its salary independent of the industry standards. The responses demonstrate that the former organization would face fewer problems in attracting and retaining human resource in comparison to the latter. With the upward inflationary pressures in most nations and rapid technological advancement organizations have been increasingly confronting with the problem of upward revision of the basic salaries of employees in terms of their dearness allowances. In such a condition or ganizations not considering the industrial standards would be faced with the problem of high employee attrition rates. Employees would be more tempted towards organizations offering higher salaries as salaries are the prerequisites of attracting and retaining talents in organizations. With the intense competition existing in the market, the compensation packages are the only and most important alternative left with the companies to motivate employees and attract them from the labor market. The increment system in the former organizations is found to be better and profound in comparison to the latter. Employees remain concerned about their career

What Feminism and Women's Studies Calls for and Performs Essay

What Feminism and Women's Studies Calls for and Performs - Essay Example This paper will focus on identifying significant ideas associated with feminism and women’s studies, and some of the significant role they play in the society. One the significant role played by feminism and women’s studies is to contribute to development of feminist movements and academic studies regarding construction of gender that facilitate harmony in the society. Besides, feminism and women’s studies are applied in gathering ideas that can question various cliches regarding gender, race and religion, which are sometimes considered nature, though they are established through social interactions. In addition, feminism and women’s studies has enable recognition of the effort that her been made by women in the resent years in order to realize the stature of feminism in the present day. Feminism and women’s studies takes interdisciplinary nature, which leads to affirmations of diversity in the perceptions by people who study them. Moreover, feminis m and women’s studies offers a basis of developing strategic discussions, feminist praxis, and for making significant interrelationships across various boundaries that are conventionally conceived. Feminism and women’s studies has facilitated flexibility, and a basis of questioning various notions regarding human assumptions regarding gender and relations. Feminism and women’s studies plays a vital role in encouraging members of the society in developing skills that can enable them think critically and sensitive about issues relating to gender. On the other hand, these studies offer students a critical awareness regarding the operations of gender and the way they operate in various contexts such as institutional, cultural and social. Feminism and women’s studies offers an introduction of critical gender theories that forms a functioning in demanding intellectual environment (Levin, 12). These studies take a vital role of introducing history, feminist theo ries and criticism, which are bases on critical theoretical framework applied in developing vital perceptions and knowledge about gender inequalities. Feminism and women’s studies strengthens ability to discuss and writer about feministic criticism with a high level of coherence, logic, and analytics (Kesler and Sameh, 185). Apparently, feminism and women’s studies requires understanding of feminist critiques, which are applied in making informed judgments and strengthening the society, building public policy and reconstructing sexist institutions. There is need to understand the impact of feminist perception and criticism, and the challenges that they have pose do conventional disciplines of liberal arts. Feminism and women’s studies has led to identification of women’s contribution to knowledge that was overlooked in the past. Feminism and women’s studies serve as vital sources for substantial writing regarding issues that involve women’s race and social classes (Kesler and Sameh, 186). Therefore, this creates familiarity with literature on women’s studies and awareness of significance of vitality of the journals, which involves frequency of publishing articles in Feminist Studies. However, understanding ideas in feminism and women’s studies, it is important to collaborate with in new generations of feminist scholars, activists’ artists, and creative writers. In addition, there is need for

Procter & Gamble Essay Example for Free

Procter Gamble Essay Proctor and Gamble Co. is sending video crews run by a small research firm in London, Everyday Lives, Ltd. , into about 80 homes worldwide to record peoples daily routines in the name of marketing research. PG believes that some people have selective memory in focus groups and interviews, and some insights into consumer behavior may be lost. Camera crews will arrive at the participants home when they wake up and not leave until they go to bed for a duration of four days. Cameras may not be manned at all times, and bedroom and bathroom activities will not be recorded. Families will be paid an undisclosed amount for their participation. PG wants to solve problems that their shoppers may not have known they had. For example, marketers discuss multitasking habits while watching a woman in Thailand make breakfast, feed her baby, and watch television simultaneously. The study will initially take place in the UK, Germany, and China since there are such major growth opportunities overseas. Project risks include people behaving abnormally in front of the cameras, local privacy laws, searching hours of videotape for ideas, and producing successful products. PG’s goal is to maintain a huge video library that can be organized by key words, and will give a global perspective on something as simple as eating snacks. By stepping into the homes and lives of their audience PG has found a way to have up to date information on the routine habits of the population of their target market and develop an intimate relationship with them by making themselves a part of the daily rituals that no one other then the individual may see. They will even be able to observe the innate actions that a person may not even realize they do. Market conditions are continuously changing and having this live information will give PG the sufficient knowledge to develop a successful marketing strategy. They will also benefit by being able to see other products the families are buying to gain a perspective of the average budget people are able to afford for similar goods. In the past this obtrusive plan of watching a persons’ every move would have been seen as crossing a line, or illegal, and participants would be hesitant to partake. The plan fits into modern society trends, however, where reality shows are amongst the highest rated programs on television. The intrusion is now acceptable, and even seen as somewhat glamorous, especially when a monetary transaction is involved. In my opinion, PG will have a laborious task ahead of them, but the information from this market research has the prospect of yielding a host of innovative convenience products and goods.

Virtual Supermarket Technology: Advantages and Disadvantages

Virtual Supermarket Technology: Advantages and Disadvantages Advantages of Hybermarket Technology Virtual subway Store Virtual subway stores makes shopping easier and saves time. For the point of make shopping easier and simple is customers can scan the barcode from any product they have at hand to place an order for one. It is easier for the customer to reorder food and office supplies that ran out of them, instead of having to remember to put it on a list, for a future trip to the store. The customer can get the product by setting the delivery time and location when they make the payment. Retailer set retail kiosks with life-size images of real product displays, placed in high-traffic areas like subway stations, which will be attacking the customer while they are waiting around. Its serving as an advertisement for the retailer. However, it can also save lots of money for the retailer, which they would have been spending open a real store. Card Scanning Technology Card scanning technology is more secure. This simple technology has increased the level of card security. It uses encryption and authentication technology which has increased the level of card security associated with payment cards. The microprocessor chip embedded at the heart of the smart card requires contact to the card reader and certain areas of the chip can be programmed for specific industries. Next, save to transport. Having the cards gives the holder the ability to carry larger amounts of money. It can reduce the problem of stolen money. Once cards had been stolen, it is nearly impossible to recover it because it needs the pin number of the cards. It can avoid the long queue. Card scanning technology just needs a few seconds to complete the payment, it gives the customer a fast and simple shopping experience. Intelligent retail and purchases Advantage of intelligent retail and purchase is it help customer found the stuff faster and easier. This type of technology include the location of each stuff, after customer key in the stuff system will come out the location that the stuff placed, can give the route to the stuff. Next, customer can list the stuff that they want before they go to the hypermarket. It is a good habit of plan before shopping. It can avoid buying the stuff that not really wants. Besides that, the technology of intelligent retail and purchase will show that the promotion of the hypermarket. It can attract the customer to visit the hypermarket and able to help the customer to find out the latest promotion product. Last but not least, intelligent retail and purchase can also give the suggestion or notification of promotion of customer favorable. The system of the technology had record the purchase of the customer, so system can depend of the previous purchases then come out the suggestion. Touch Screen Purchasing Advantage of touch screen purchasing is fast and simple purchasing. This technology only need the customer to stay in front of the touch screen kiosk of the hypermarket, key in the name of the product, select the brand of item that they want, after that customer can get the product after they pay. It can save the time of searching for item placed and the difference price of the similar product. Customer can get the information though the touch screen kiosk. Technology of touch screen purchasing is very easy to use. Customer only need to key in the stuff that they want, after that kiosk will come out the information of the product. No any personal device needed, so it’s also easily for everyone to use the technology. Disadvantages of Hypermarket Technology Disadvantage of virtual subway store is may late delivery. In the concept of virtual subway store, delivery places an important role. Customer will get the product by using delivery. If the delivery company suddenly comes out issue, for example weather, personal factor and so on, it will affect the time of deliver. Next, virtual shopping mode might elevate the case of returning product. Since customer does not seem the actual product that they will get, it is unable to make sure that the product is in good conditions before they purchase. Additional fees like shipping will be hidden until the late of the checkout process was a disadvantage of virtual subway mode. Sometimes retailer was hidden the cost of shipping fees, in order to get more attractive of customer. When the customer almost finishes the order they only get that they need to pay the shipping fees as well. The disadvantage of card scanning technology is easily lost. Because of the card are small, it is easily lost the card if the person are irresponsible. If lost the card, it will be very inconvenience, because a card may have double or more uses. The process of register another card it take many procedure, it is very trouble to the user. Next, Possible Risk of Identify Theft. While if use the card collect, it make the job of bearing person more easier. However, for criminals seeking a new identity, they are like gold, based on the amount of information it can contain on an individual. Unnecessary Surveys will be provided after shopping is the disadvantage of the intelligent retail and purchases. Due to the system of this technology, the survey will be provided before customer go out. Retailer always seeks for improvement for their business in order to maintain the customer, and find out the way that increase loyalty customer. Next, intelligent retail and purchase are too dependent on mobile device. Hypermarket can only use the mobile device to connect the hypermarket system connection. It required the customer have the mobile devices and also application to connect with the hypermarket system. While for those who are not match to the system connection they are unable to use the technology. Disadvantage of touch screen purchasing is low privacy. Customer personal information may be seems by large screen kiosk. When customer stands in front of the kiosk making purchase, someone maybe stand behind them, so that they will saw the personal information of the customer. Lost the delight of shopping. Some of customers’ is more likely to enjoy searching the product, touch and feel the product. So when the hypermarket become advance, customer do not have the delight of shopping. For touch screen purchasing, its also need customer go out to the hypermarket to buy the stuff themselves. It just provides the kiosk to select the product to save the customer time for find the stuff placed. Implementation challenges The main challenge of many retailer is retailer have to implement technology into existing stores to become multichannel. Such as smart screens, in-store tablets and the use of near-field communications (NCF) for contactless payments. Besides that, implementation challenge by using virtual subway store is good mobile connective is required. The order takes by virtual subway mode by using mobile to scan the barcode of the product. But in real life, there is no all people are practiced with the mobile function. Implementation challenge of card scanning technology is slow adoption. If used as a payment card, not every store or restaurant will have the hardware necessary to use these cards. One of the reasons for this is since the technology is more secure, it is also more expensive to produce and use. Therefore, some stores may charge a basic minimum fee for using smart cards for payment, rather than cash. The challenge of intelligent retailer and purchase is not everyone have mobile device. It is very hard for the hypermarket to implement this system while some of the customer does not have the mobile devices or application. In order to set up the system, it needs the accurate data. The data have to been set at the factory, and it was costly. Touch Screen purchasing implementation challenge is set up cost. Hypermarket need to set up lot of touch screen kiosk at the hypermarket. The cost of set up kiosk is expensive. This type of technology is only save the place of display of the product. Its also need to keep the inventory of all the product that they sell. The inventory costs are high for this technology. Security Issues For the secure issue, customer should always look for the address-bar padlock symbol. Look for the address-bar padlock symbol. A webpage should always be  Secure Sockets Layer  (SSL)-encrypted when plan to use credit card information to shop. SSL encryption ensures privacy by restricting the computers that can access the data being transferred, limiting access to user and the online retailer exclusively. Next, never give out credit card number over email. Legitimate retailers will never ask for credit card information or other sensitive personal details over email. The only time that needs to give the information of credit card is when you are on an SSL-encrypted webpage operated by a trusted retailer. If shopping on a mobile device, stick to apps you know. Mobile shopping presents its own set of security issues, it is better for us to use apps that came directly from retailers, and to make purchases inside those apps. Lastly, never make purchases over public, for example unsecured WIFI. It could leave your personal information at risk. Integrating security practices across agencies, a task requiring collaboration among separate and dissimilar internal organizations; achieving smart card interoperability across the government; and maintaining the security of smart card systems and the privacy of personal information. According to Worku (2010), e-payment and e-banking applications represent a security challenge as they highly depend on  critical ICT systems that create vulnerabilities in financial institutions, businesses and potentially  harm customers Customer information is set in the mobile, so when they lost the mobile, personal information will be disclosed. Next, the system of the technology is having the data of customer purchases record. They can simply send the annoying promotion message to the customer and also sell the customer purchase record to the other industry. Customer personal information display in the touch screen kiosk. Interest parties will easily to get the information for immoral purpose. It is very danger for the customer. Beside that customer should know their right. Consumers are required to write a physical letter within 60 days detailing any complaint to the retailer, with a return receipt acting as proof that the creditor received the letter. The Federal Trade Commission provides an example letter, so all you need to do is fill in the blanks with your information.

Self-managed Learning Approaches and Life-long Learning

Self-managed Learning Approaches and Life-long Learning There are many learning methods to choose from. One of them best understanding techniques regarding particular and professional living development are Self-managed learning approaches and Life-long learning approaches (LLL). The following we are considering the evaluation connected with Self-managed understanding. Evaluation of Self-manage learning approach: Before coming into the profession arena, people really should bring the decent extent connected with self-confidence which often retains them inspired for their work. Self-managed understanding techniques play a big turn in creating this self-confidence inside of. As soon as people recognize what they may be skilled at, that they start giving more time on that will sector. SML aids the staff throughout figuring out their particular know-how areas and motivate these to variety their particular vocation on it. Diligence originates on the stream as soon as an individual loves his/her career. The actual planned method throughout SML aids staff to be able to plot their particular understanding using methods and that they also must focus much more on future needs at the. Gary the gadget guy. Most advanced technology. The actual employees should be able to face fluctuations inside group at the. Gary the gadget guy. When a fresh new goods and services is actually announced. With this method the employees should come to recognise their particular responsibilities and theyre going to place their particular effort much more outstandingly and very well. The actual syllabus cost-free method specifies that the employees perform acquire expertise by the basics and dreams of the contemporaries plus the group alone. Task 1.2 Ways to encourage lifelong learning of the employees: A informing in order to we now have many methods lifelong understanding on the staff throughout professional and particular living may be encouraged. Lets look into a few methods to encourage lifelong understanding on the staff throughout professional living: The staff should be required services and conferences to create these individuals adapted while using the completely new devices or technologies which are on make use of by the corporation. The administrators really should talk to the staff to evaluate whenever they are content with their particular career of course, if they may be in your head organized for it. The organizations can offer the college cost to be able to the employees that dont even have a qualification. The staff may be made available cost-free document trainings. Lets look into a few methods to encourage lifelong understanding on the staff throughout particular living: The staff may be given responsibilities to try and do like a collection. They can study on one another and understand a few truths throughout completely new approaches. Its the managers career to keep the employees motivated on the work. The actual employees may be called or short job interviews or individual instruction using administrators to be able to stimulate these individuals. Particular understanding is dependent upon men and women. It depends on each and every staff members the amount they may understand from co employees or administrators. Task 1.3 Benefits of self-managed learning: SLM method could be the best understanding for just about any member of staff to build up his vocation like a corporation particular person. On any work industries, self-confidence are needed to grow up that has a very good standing. Self-managed understanding provides a workforce that wills self-confidence. Simply because by way of self-managed understanding staff learn largely off their activities. These people get to know what they may be proficient at, whereby they are able to give their full capacity effectiveness. Its very important regarding the two members of staff and corporation that the individual member of staff is actually given responsibilities throughout his/her know-how spot. The actual staffs also need to enjoy their particular career in the event they want to give their particular 100 % initiatives inside. Via Self-managed understanding staff study on their particular colleagues, their particular administrators. Supervisors act as mentoring employees in this particu lar process. These people discuss with the member of staff what they may be experiencing regarding their particular responsibilities. The actual staffs in addition receive possibility to give their particular reviews regarding any completely new technologies or merchandise the organization has ended proceeding. SML always gains the two workers plus the corporation. It provides the organization that has an assured band of workers that know about their particular ability. The corporation in addition extends to recognize how efficient his workers may be at different responsibilities. Task 2.1 Required skills and competencies required for customer assistants: One of the buyer assistants a few expertises are essential prior to the organizational objectives and professional expectations. Interpersonal Communication Skill: Fantastic public conversation proficiency is required. Conversation proficiency is defined as split in to a couple expertises. Therere: O Speaking skill: A fantastic communicating proficiency is required one of many buyer assistants to be able to get in touch with the customers can use along with other employees. Most people hold the same trouble them to be not able to explain truth such method that will everybody knows. Buyer Assistants ought to be detailed and understandable for your clients. o Listening Skill: Jamming proficiency isnt going to specify only listening; whats more, it signifies comprehending what is being said. Buyer asset really should have a very good listening proficiency. They ought to determine what the customers can use say or requesting at the first illustration. Managing Skill: Buyer assistants also have to handle different situations time and energy to time period. These people should be able to handle those people situations easily and success. Thats the reason the humble taking care of proficiency is required. Adaptability: Day-to-day new products and technologies are now being used at each and every group. Buyer asset really should can adapt these individuals throughout extremely quick time period. Oahu is the versatility which often specifies the core power on the employees. Task 2.2 Possible development needs for the same category of workers: Youll find always a few areas to develop. The actual workers inside same class may have a few development needs. Lets look into the feasible development needs for your same class of workers plus the actions forced to fulfil these individuals: Intercommunication Skill: The actual intercommunication proficiency between your same class workers may be developed. It is very needed for same collection staff member to know one another to run the job movement. They should be very clear with each other. Adaptability: Similar class workers really should adapt the job model and movement of each and every additional right away. A same undertaking can involve a number of workers and machines. The actual workers on the same collection should be aware the fact that machines function and should adapt while using the completely new technologies. Commitment: The actual workers ought to be dedicated to look at their full capacity that can help one another at work. For that corporation to develop it is crucial that the employees are very helpful together. Task 2.3 Development opportunities and the activities required to meet them: I have already been touching John final a few times and weve talked about the development opportunities regarding your ex along with other individual employees. Many of us, jointly, are building a particular development strategy (PDP) regarding your ex. They have also been functioning at Tesco score in the community connected with Structure Hamlet like a buyer asset regarding final 8 a few months. Via an extensive conversation weve determined from which industries John believes youll find chance for your ex to develop. Therere: Managing different situation: John senses a bit apprehensive at times as soon as hes got to handle unpredicted situations. He senses that they arent able to face those people situations. Sometimes the retailer manager has got to can be found in entrance to manage those people situations regarding your ex. John believes in the event he or she and his colleagues get some good much more trainings regarding the way to handle these kind of weird situation, that will deliver the self-confidence in that person. Listening Skill: The customers are from different track record using different feature. John senses at times hes got a tough time comprehending what a few clients are requesting. He believes he or she needs to perform increasingly more listening training to be able to different features. The actual SML method may help at this time. He believes he can improve the listening proficiency through conversing with people connected with different feature as soon as he could be outside. Speaking Skill: John doesnt really feel any deficiency connected with communicating expertise throughout your ex. Although he or she believes in the event he can learn a little bit of basic words from additional favourite languages throughout Liverpool, he can guide the customers can use much more. He believes this proficiency may be greater possibly by the group giving them short phrase list to examine or through themself trying to learn from the people because acquiring a few enjoyable time period together as soon as he could be going out inside recreation area or sites prefer that. Task 2.4 The problems take into consideration although creating the right and professional development strategy is actually discovered and discussed down below: First problem, Just about all individual employees should be straightforward using themselves. They have to make clear their particular lacking and try and work on those people. Identifying the needs plus the objectives inside group work sector at the. Gary the gadget guy. Require connected with experienced and professional staff, enhance throughout markets, sources for example personal computers and so forth. Supervisors from all business units really should guide seeking the objectives and explain these to the employees. Finding out there the additional staffs experience and expertise to meet up with the needs connected with administration crew. Its very important to prepare Conferences, Classes, and trainings to further improve up the expertise. Another fantastic problem could be the development charge; the proportion which the staff are establishing. It could be obtained with development appointments where by different responsibilities and time period schedule on their behalf may be given. Personnel can recognize how considerably they have moved on through considering the concluded responsibilities. Finally, the actual staff should be sensible regarding their particular given responsibilities. They have to become decided to meet up with the administration needs and their particular development needs. Task 3.1 Discuss the processes and activities required to implement the development plan: Talking over jointly we and John possess made a list of procedures and actions which often are necessary to implement the development strategy. Therere: Finding a target time frame: Its very important to be able to begin a time frame when the implementation on the strategy ought to be occurring. Assessing the skills, abilities, and knowledge: One more critical process and exercise would be to measure the expertise, abilities and knowledge of individual employees just like John. For instance, John is designed for some type of computer perfectly and theres certainly one of his colleague that is not that considerably very good using computer. In the event that equally are called to try and do the same undertaking on computer their particular timeframe to try and do the job arent going to be same. Learning Strategies: The actual employees ought to be given responsibilities because collection and encouraged to look at SML because their particular understanding method. In this manner they will adapt the revolutionary understanding right away. Learning Resources: Understanding sources may be textbooks, education paperwork, computer and so forth. The staff should be effective adequate make use of the sources to arrange to be able to implement the development strategy. Getting feedbacks: Feedbacks are a powerful way to assess the advancement on the member of staff. Its very important to judge the blueprint and function a bit customer survey to get the effectiveness on the staff above the idea. Task 3.2 Undertake and document development activities as planned The actual Prepared development actions are because stick to: Training the employees: The actual staffs are educated using a task dependent work and punctually time frame. With the education they have discovered completely new techniques and using the sources they have discovered to be able to adapt to the revolutionary thoughts quickly. Organizing the study groups: The actual staffs are split in to research communities. The actual staffs doing work in the same sector is in the same collection so they can work on their particular professional areas jointly. Mentoring and Supervising: The actual staff are mentored and administered by the administrators plus the brand administrators. Theyve kept very good face for the staff to determine their particular advancement on their own so when friends. Consultation: Soon after each and every collection undertaking is performed the staff receive discussion off their brand administrators regarding their particular effectiveness and what they have to perform enhance their particular pace and accuracy. Task 3.3 Critically assessing the staff learning against original aims and objectives set in the development plan: Self-managed understanding, by way of my personal look at, provides each staff members a particular knowledge about what the organization needs from them. These people get to know what this company is actually low in for example experienced workers. Via subscribing to the collection instruction it assists these individuals comprehending the revolutionary approaches running a business and so they receive adapt to these individuals very easily. Via this technique in addition, they can study on their particular colleagues. Thus, the idea provides these individuals the liability to master just about every 2nd. Additionally they provide the option implement their particular thoughts talking about while using the brand administrators through the discussion sessions. The most beneficial section of this understanding method is actually that they dont have to research textbooks; they are able to study on individuals all over these individuals. Thus, in my look at Self-managed understanding is often an effective way to build up the staff for his or her particular and professional living. Task 3.4 Suitability of updating the PDP: The actual feedbacks and in-progress evaluation provided by the administrators and brand administrators ought to be consumed very critically plus the PDP connected with John along with other men and women ought to be up-to-date on the basis of those people feedbacks and evaluation. The actual feedbacks and testimonials demonstrate the industries where by John needs to receive developed and additionally, there are reviews regarding his powerful proficiency industries too. With the feedbacks, John is actually lacking is actually conversation and versatility. Thus, right now John is aware what he or she needs to work on increasingly more. He should enhance his conversation proficiency and look at getting effortless while using the completely new technologies. Increasing the versatility may very well be a tough undertaking regarding your ex nevertheless he can in addition have the feedbacks from his brand manager after having a certain time period. Thus, it is quite ideal to be able to update the PDP connected with John based on the feedbacks and in-progress testimonials hes got acquired. He needs to place initiatives to have better feedbacks when. Will help you your ex getting increasingly experienced and it will likewise guide your ex getting special offers. Task 4.1 Solutions to work-based problems: Through the PDP I bought a few work dependent difficulties for example regarding a short time My partner and I has been experiencing bored stiff doing the regime dependent is effective each day. Thus, My partner and I wanted my personal brand manager give us some more accountabilities. This extra some more responsibilities in my career. Id to be effective harder. Although my partner and I have been pleased with the idea considering that the monotony has been absent from us. The following trouble my partner and I has been going through has been communicating while using the guy people connected with my personal collection. The actual people were from different generation. My partner and I tried wasting a bit more time period while using the folk people. Which helped us a whole lot getting together with these individuals? One more trouble I bought has been certainly one of my personal collection associate has been very poor using computer expertise. Once we were given responsibilities related to computer many of us were concluding later. My partner and I made available your ex to present your ex a few lessons on computer proficiency within just my personal expertise. He gladly contracted and within just a short while he or she developed a whole lot. These are generally many of the difficulties my partner and I experienced in the course of PDP and my partner and I could resolve these individuals at the same time. Task 4.2 There are various styles of communication e.g. verbal, non-verbal, preverbal etc. But in order to communicate with various levels at work I think assertive communication style is the best one. The typical Supervisors can get in touch with the administrators by way of this way giving completely new directions and also demonstrating regard for them. The actual administrators can provide orders on the buyer assistants along with other staff throughout aggressive way. Via this way the minds on the group can get in touch with the lowest most respected member of staff on the group. Every person can learn every time completely new merchandise is going to be released. Just about every employee really feels their particular significance inside corporation. This hard drives these to work harder. There are many much more communications variations used through the work for example sign language. Although those people are simply just through the is effective. In order to get in touch with different stage, I do think aggressive conversation method is the foremost a single. Task 4.3 Time Management: Occasion administration is often a tough undertaking. This ought to be done by having a prepared way. While I have already been given the duty to stay demand on the brand for your 7 days, Ive got to handle my personal work time period. Ive got to become very frugal although picking out my personal transfer time period. Ive got to direct from the entrance through the busiest time period on the time. Let me also have to handle some time schedule to offer the employees a superb frugal work shifts to be effective alongside one another. As I was the brand manager for your 7 days, I want to seek the advice of the revolutionary employees to evaluate right now there effectiveness and My partner and I in addition really should mix up the time period schedule to present these individuals a way to work with more experienced and effective employees. The actual work-loads, my partner and I should try to portion throughout a smart way that the experienced workers are working for the most difficult responsibilities plus the additional workers understand from them.

Shakespeares Hamlet Essays: Claudius - Guilty or Innocent? :: GCSE English Literature Coursework

Claudius: Guilty or Innocent?  Ã‚   William Shakespeare's Hamlet is a play that tells of a young man, Hamlet, who wanted revenge for the death of his father. After speaking with his father's spirit, Hamlet was led to believe that the person who murdered his father was his uncle, Claudius. Claudius kills his brother mainly because of jealousy, the crown, the queen and a hatred of his brother. Therefore Claudius is guilty of the murder of his brother. Claudius killed his brothe mainly because,he was jealous that his brother had it made. He had his kingdom, a beautiful queen(Queen Gertrude),and his son(Prince Hamlet) which would've taken over the kingdom when he died except Claudius, his own brother, killed him. We can see proof of Claudius's jealousy when Claudius hands Cornelius and Voltemand a piece of paper. In addition, Claudius says, "Though yet of Hamlet our dear brother's death the memory be green, and that it us befitted to bear our hearts in grief, and our whole kingdom to be contracted in one brow of woe, yet so far hath discretion fought with nature that we with remembrance of ourselves(pg.21)." Right there he's saying that his brother's death in memory be green, meaning maybe the green-eyed monster of jealousy. He couldn't stand to see his brother happy so he decided to kill him. Claudius feels guilty about killing his brother. We can see Claudius;s remorse when he is talking to God and gives his monologue about his his murder. Therefore, Claudius says, "My stronger guilt defeats my strong intent(pg.165)." This quote proves that Claudius realizes that he made a mistake and he also realizes that he cannot put everything behind him as mich as he wants to. Everything reminds him about his brother, the kingdom, the queen and the crown. Claudius is not better off now that he has killed King Hamlet. We can see proof of this when Claudius is giving his monologue. Claudius says, "Forgive me my foul murder? That cannot be, since I am still possessed of those effects for which I did the murder:My crown, mine own ambition, and my queen(pg.

Historians Perspectives :: History Historical Essays

Historians' Perspectives Every situation can be looked at from so many different angles that it is very difficult for any two people to agree on what is going on. Ten people could look at the same situation and create ten different theories or assumptions as to what is occurring. This is because no two people have the same backgrounds, no two people have the same experiences, and no two people think exactly the same. These factors come together to distinguish each person as an individual. Every person has the ability to interpret the same situation in a different way. This occurs more often then not, when one historian has a theory about a time period or a historical event. One historian could look at the assassination of John F. Kennedy and think that it was a governmental conspiracy, while another may look at it merely as an ex-marine that went mad and killed the President. Still on the same subject a third historian may combine facts from both arguments to create a whole new view of his own. This is exactly what occurred after Richard Hofstadter wrote his book The Age of Reform. He made an argument on progressivism in his book in 1955, which was not written as fact but more as opinion. After that three different articles were written on the same topic from different angles. Richard L. McCormick, Paula Baker, and Peter G. Filene, all wrote articles which either agreed or disagreed with Hofstadter. At points they completely disagreed with points that Hofstadter made, but then in the same article they agreed and support a point Hofstadter made. All four people wrote on the same topic but all four took different views. This was their right as individuals to do and at some points they had similarities but then at others they went to other sides of the spectrum. Hofstadter in his book, The Age of Reform, broke down the age of reform as a time period from 1896 to the 1930’s. Within this time period, he then divided it into three separate sections or movements. The first section being that of the populist movement, the second was the progressive movement, and third was the reforms made during the New Deal. He begins with the populist movement and how it started based on the agrarian myth in rural and southern areas. This myth had the farmers thinking that they held an important part in society and that their job has a special value.

Differences between in India and China about Buddhism

The term Buddha is derived from the root word â€Å"vbudh† which means â€Å"to awaken or to be enlightened†; it is from ancient Indian languages â€Å"Pali† and â€Å"Sanskrit† which means â€Å"one who has become awake†. It denotes a person which have been many instances in the course of vast time, not just a person or a teacher who lived in a particular era. It is also a person who has truly awakened the true nature of existence. And based on the teachings of Siddharta Gautama (6th century BCE), Buddhism is both a religion and philosophy. Buddhist practices aims to â€Å"become free from suffering†, egolessness, and achieve enlightenment and Nirvana (paradise).Buddhist moralities follow the principles of harmlessness and moderation. Siddharta Gautama is a prince in the kingdom of Magadha (Nepal) who abandoned his rank, privileges, and even his wife and child; in search for an answer of the true existence in life. He is someone who did not claim any divine status or heroic symbol for himself. He also did not claim himself a personal savior inspired by Gods but rather, a teacher who guides those who chose to listen. Siddharta found difficulties in his life, dissatisfying himself with his needs, and while abandoning hi life to become an austere.According to Buddhist writings, Siddahrta was first enlightened during the time of his meditation. After doing continuous mediation, he performed his first sermon, which would be important in understanding the ideas held by Buddhism. The first message of Siddharta was sketched in The Four Noble Truths—1) pain, suffering, frustration and anxiety are negative that are given and that human could not escape, as it is part of the human life; 2) that suffering and anxiety are human caused choice; 3) that people is able to understand this weaknesses and; ) triumph is achievable by having a code of conduct.Buddhism originated in India, and gradually spread throughout Central Asia, Southeast Asia, and East Asian countries including Japan, Korea, Mongolia and China. Up to these days, there are schools and practitioners from different part of the globe that still spread the word of Buddhism and teaches their followers to always perform good and wholesome actions and to avoid harm to others. For them, that this is the true meaning of enlightenment and existence. As Buddhism in India grow in large number, many people readily converted from Hinduism to Buddhism to achieve â€Å"enlightenment†.For them, being one follower of Buddha is easier because it does not require any traditions or set of Gods. Buddhist shrines were built but after a few centuries, Islam destroyed it. A great impact to Buddhism happened in India when Dalit (untouchable caste) leader converted from Hinduism to Buddhism which led hundreds of thousands away from Hinduism. After a millennium of Buddha’s death, Chinese adapted Buddhism to suit their old traditions of Taoism and Confuc ianism. But, as a way of Buddhism practices and beliefs, there are some differences between Buddhism in China and India.First one is that Chinese do believe in souls while Indians don’t. Second is that, Indians are disgusted with the dead, while Chinese praised and worship the dead and images of loved ones. But, whatever their differences are, according to Buddhism, no religion is â€Å"wrong†, any person of other religion can also be termed Buddhist, because all will lead to â€Å"enlightenment†. No rules are set to which God to worship, or what to do to achieve enlightenment. Both Chinese and Indians appreciate and follow the writings of Buddha, and adhere with his state of mind. The transformation of BuddhismBuddhism plays a very significant role in the history of Asia. It caused changes in some other realms of cultural identity. Soon after, Buddhism was already starting to transformations in the Indian lifestyle. Though Buddhism is worldwidely known, it also encountered criticisms form its skeptics. If analyzed, it could be realized that Buddhism is not just as a religion, but it is also a phenomenon on different aspects like social and cultural. During those times, the most promising aspect of Buddhism is cosmology that was widely used in the ancient Indian.This includes the beliefs of karma as the one that dictates one’s next life and samsara as the transmigration if souls by means of birth and rebirth. Cosmology has become a significant concept that affected art, social life and different challenges in the social life. It can be concluded that the almost everything in Buddhism, its roots, origin of popularity first existed in India. One of its most significant motivations is its indiscriminate ideology for male and female, educated and illiterate, etc.Buddhism also put high regards in a path when he concluded that there is no wrong or harm in praising and honoring gods, or even practicing rituals as long as they keep the obje ctive of enlightenment in mind. At this point, Buddhism has become safe while instilling that people does not have to throw their religious practices in order to follow the Eightfold Path. After Buddha’s death, followers continued to practice and send the message orally, and was only first written during the first century of C. E. Several changes occurred in the practices of monks.From eating one meal a day for about eight months, then shifted in introducing the Buddhist monasteries. Buddhism has also a great impact in the India’s politics in ancient times. King Ashoka, after deaths caused by battles, became a strong follower of Buddhism. He banned on animal sacrifices, sent missionaries in different known and popular countries. This has became the origin of art and architecture as a way of depicting Buddha in the human form. Another transformation of Buddhism is the development of sects, which are the Mahayana and Theravada.Mahayana is called â€Å"Great Vehicle† which is now exercise in China. Theravada was the first school of Buddhism, where it was formally taught. Undoubtedly, Buddhism spread to all different parts of Asia- first from India then after is China. Buddhism was firs received in China as a religion of merchants because of the environment of their primary contact with it then later became of more importance when missionaries started to came. Buddhism began to spread widely after the fall of Han’s Dynasty.Just like in India, Buddhism was viewed in China like something that could offer everything to everyone, like a sense of peace and unity, which enable it to be followed by a wide range of people For the rulers and powerful, Buddhism presented them an extraordinary power. Also, like in India, Buddhism introduced equality in the treatment of women, and opposing parties. By this time, there was huge increased in the number of temples, followers, changes in arts such as sculptures and architectures. The effect of Buddhism in the Chinese arts was obvious enough to change the culture of Chinese.This can be notably seen in arts with the execution in the arts that emphasized the concepts of meditations, empty space, etc. The ideology of Buddhism has greatly affected the Indian and Chinese culture, as well in the different countries worldwide. Its fairness and almost perfect ideology has become its power in creating a large span of followers. Buddhism achieved a degree of goodness in spreading its concepts like the fairness or the equality of nature. China and India were successful enough in fostering the improvement and growth of a revolutionary idea.

Literary Analysis on an Excerpt from A Summer Life Essay

When people are faced with the problematic decision between right and wrong, and have chosen the wrong decision, they often battle the guilt that eats away at them afterwards. In an excerpt from his autobiographical narrative, A Summer Life, Gary Soto looks back into his past when six year old self committed a theft. He achieves a humorous telling of the story due to the new perspective that he has as an adult through the use of similes, imagery, and personification. Upon finishing the stolen pie, he begins to play with his Frisbee and he compares it shadow â€Å"like the shadow of an angel fleeing bad deeds. † The reader gets a sense that he does feel guilty for what he has done, and he wishes that he could flee from the situation at hand. He slowly and uninterestedly jogs after the Frisbee as though the pie is weighing him down. Not only is t weighing him down physically, but mentally as well. He knows what he had done was wrong and that does cause him to have some internal conflict. Along with the use of a simile, Soto uses imagery to visual manifest his guilt. The image of his face â€Å"sticky with guilt† depicts a picture of Soto being very guilty for what he has done, so guilty that it turns into some sort of paranoia. He believed that everyone had known that he had stolen the pie. The gold- colored pie filling that coated his face was somehow the teller of all his secrets. This also adds to the humour because the reader knows that nobody knows or probably cares. The reader can see that adult Soto does not see it as being a big deal as well. He is mocking the childish mentality he had towards the situation and is amused that he actually took the offence so seriously. Not only is his guilt established through his paranoia, but also through the empty pie tin â€Å"glaring at [him]. † The pie tin is personified by possessing the human characteristic of glaring. Soto employs this personification to reiterate the guilt that six year old Gary is feeling. Glaring is an act usually done by a parent that knows that their child has done something wrong. When it is done by an inanimate object, there is a feeling that they have really messed up. Even these soulless entities seem to be able to differentiate between right and wrong. Soto has grown and gotten some new insight which had caused him to change his view on the matter. He demonstrates this through his uses of similes, imagery, and personification to add a humorous tone to the guilt that had eaten him up when he was a young, six year old boy. Soto has shown us that perspective does change over time and the problems that we may face while we’re young will be seen as a little silly when we are older.

Media Science-Stories vs. Scientific

This paper talks about the different ways on how Non-human Animal Communication is laid out. It is mainly a comparison of various takes on the topic, including scientific research, media science stories and how it is being laid out in the natural world. The scientific research it will tackle is about the role of the physical environment on the animal acoustic communication. This is more on the scholarly way of tackling the topic of non-human animal communication, and is based on extensive studies and research.Another approach is from National Geographic News, which is about a speech project that will be able to understand the communication between non-human animals. This is a media science approach wherein it mixes scientific knowledge regarding non-human animal communication and the dissemination of information through mass media. National Geographic is a well-known scientific knowledge provider through various media means, like print and television. Accompanying material: Disagreements Between Experts in Natural SciencesThe approach on the topic will be on how they will be able to mix the products of scientific research with the mainstream information paths like television shows and environmental magazines. The final approach that will be tackled will be regarding an internet article which came from an unknown author regarding the concept of language for animal communications. This take is more on how most of the people see the topic, making them able to conceive certain ideas, just like what is stated in the internet article.Non-human animal communication is one of those topics wherein humans have no solid grasp of understanding. There are various efforts in order to understand more of the concept, but still, knowledge about it still remains limited. One of the efforts being done to further understand this is through scientific research. Many scientists and researchers conduct experiments on how they would be able to establish information regarding the communication of animals.They test on the possible means of communication, like body signals, excretion of chemicals, or even telepathically, which is not really on the realm of the human understanding. One of these researches is about animal acoustic communication, wherein it emphasizes on the physical characteristics of the world which is perceived by the organism or animal that is being focused on. This research article has been published in the Journal of Comparative Psychology by two authors, which are both from the Animal Behavior Graduate Group of the University of California, Davis (Rundus and Hart).This article tackles on how the physical environments of the non-human animals play a very big role in their lives. It affects the way they communicate with each other, having certain effects on their communicative signals, since these signals directly reflect the physical characteristics of the environment they are living in. The examples that were tack led were the communication of whales, elephants, frogs and many other animals. It also talked about the different purposes of their communication, like for social relationships, parental bonds, or mating calls.There are various conditions which were given in order for the communication of these animals to be established. The first condition is the communication of animals in the terrestrial environments. This is comparably the most familiar way of communication to us humans, since we are also terrestrial organisms. This is affected by the physical barriers like different land formations and materials around the terrestrial environments.This affects the transmission of signals, which are mainly caused by various factors like the type of substrate, the amount and type of foliage, and various geological formations in the area. Communication signals which are transmitted through the air, or airborne signals are also said to be affected by certain factors in the atmosphere, like the temp erature of the environment, the speed of the wind, the humidity, turbulence, and also depending on the time of the day or even the season.Another condition is the communication in the aquatic environment. This is considerably different from that of the terrestrial world, wherein there are different factors to consider. Land dwelling animals greatly differ from the aquatic animals.   It is said that aquatic signals are far more different in the degree of the influence in the terrestrial signals. The propagation of these signals is greatly different, wherein the acoustic signal is several hundred times less than that of the signals propagated in the air. Because of this, acoustic signals are deemed to travel much greater distances in the water. However, these signals are subject to greater distortion of the communicative signals when it passes over long distances.Humans are also said to intervene with the communication patterns of these animals. The animals’ context of the na tural environment is greatly affected by man’s efforts in creating structures or modifying the place to their suiting. Because of these, the animals are forced to adapt with the changes, thus changing their communication patterns as well. Hunting and food gathering of humans have also affected the animal communication, wherein they are forced to seek places away from the people hunting them. Boats in the oceans have distorted the communication patterns of aquatic animals, since their communication signals are also affected. The communicative changes are then adopted by these animals, thus affecting their communication patterns permanently.Another article on non-human animal communication is from the National Geographic News, which is about understanding animal communications. This is more of an exposition of what researchers call as the Dr. Dolittle Project, wherein it aims to learn more about the animal communication. This is in order to help not only the researchers, but al so the people to have a better grasp of animal’s behavior, so that they will be able to improve the means of taking care of them, especially for those in the wild or for the captive animal populations.A researcher said that in the past, humans are trying their best to teach animals on how they will be able to communicate like humans. It’s just high time for us to change that thinking, and try to learn their language, instead of making these animals learn ours (Mott).An example is learning how elephants communicate. This is by using a program that captures the elephant’s behavior then puts it into data which is a modified human speech recognition program. This is able to alert the scientists if there are any changes, including the physiological indicators of the animal.They are using the technology in order to understand these animals more, and that they are able to apply this successfully on elephants. Elephants have been made to wear collars with digital microp hones so that the sound will be captured as they go about their daily lives. After the day, the collars will be removed and the information stored their will be analyzed.One of the aspects that were focused on was the emotion in the elephant’s voices. This is manifested by the hierarchy of the elephants, wherein the subordinates were found to be nervous when they are around   higher-ranking members, an act just like that experienced by humans when they are around their superiors. It is found that there was a nervous jitter in their voices when they approach the superior animals in their herd.The last article is from an internet source, which have an anonymous source. It is more on the author’s opinion regarding the concept of non-human animal communication, wherein the author believes that language does not separate animals and humans, and that animals do have their language, and that they have the ability of cognitive thought. This is because of the animals’ possession of senses; they are able to see, hear and feel things in their environment. Language is their means to communicate to the world, and it is impossible that they have no actual connection with the world. Their connection is established by that language (Anonymous).The article expounds the author’s idea that animals are capable of thought and intention since they have certain abilities like sight and auditory capabilities. This is in comparison with the human’s gauge of mental aptitude which is language. The author quotes what other scientists have said regarding language, which is attached to human mentality. Human mentality is definitive of language competence, and that this language gives the people a grasp of their world, their environment. Because of this they are able to understand their world better.SummaryThe differences on the various ways of writing on science lie on who they are addressed to. Scientific Research is the most reliable means of writing on science, since they present the facts straight from the research itself, including the findings of the experiments. Scientific research offers a truthful, factual slice of information straight from the researchers and the scientists.The only problem is the format that the information is being presented. It is not readily understandable by those who don’t know much of the language the scientific research is written. It is highly technical, so it is assumed that the level of those who will read the scientific research is also high, wherein they are able to understand the raw information being presented to them. This limits this information to those who are able to understand it from how it is written.Comparing this to media science stories, these scientific writing is comparably understandable to a wider range of audience. It is formatted to be understood by a lot of people, especially the masses. National Geographic News presents light information to the people, and they ba ck up the highly technical information that they offer with explanations coming from the researchers themselves. But the problem with this is that the information being delivered becomes diminished, to the point that it doesn’t necessarily give out the specifics of what is being written. This scientific writing doesn’t focus on the scientific process itself, instead, it tackles more on the outputs of the research and how it will be useful to the people.On the other hand, the least factual, least reliable scientific writing is the opinions from the people other than scientists or researchers. This is not first hand information, instead, just a summary of their understandings of the topic, which is in this case, the non-human animal communication. The author condenses other information that he got from other authors and other researches and puts it into his own words. This is a highly opinionated writing, that’s why it is necessary to be critical regarding the tru thfulness of the information being presented.Bibliography:Anonymous. â€Å"Animal Communication†.   2005.   Planet Papers. May 2 2007.Mott, Maryann. â€Å"Animal â€Å"Speech† Project Aims to Decode Critter Communication†.   2006. Ed. National Geographic News.   National Geographic. May 2 2007. .Rundus, Aaron S., and Lynette A. Hart. â€Å"Overview: Animal Acoustic Communication and the Role of the Physical Environment.† Journal of Comparative Psychology Vol. 116.Issue 2 (2002): pp. 120-22.

Rmcf Srategic Audit

Strategic Audit of Rocky Mountain Chocolate Factory Table of Contents Current Situation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 4 Current Performance†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4 Strategic Posture†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 4,5 Corporate Governance†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦. 5 Board of Directors †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦. 5,6,7 Top Management†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦7,8,9 External Environment: Opportunities and Threats (SWOT)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦9 Natural Environment†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦9 Societal Environment†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦9,10 Task Environment†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦. 10,11 Summary of External Factors†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦. 11 Exhibit 1- EFAS†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 22 Internal Environment: Strengths & Weaknesses (SWOT)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦. 11 Corporate Structure†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 11,12 Corporate Culture†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 12 Corporate Resources†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦12 Marketing†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 2 Finance†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 12,13 Research & Development†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 13,14 Operations & Logistics†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦14 Human Resources Management (HRM)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦14 Information Technology (IT)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦14,15 Summary of Internal Factors†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 15 Exhibit 2- IFAS†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 22 Analysis of Strategic Factors (SWOT)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 15 Situational Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 5,16,17 Review of Mission and Objectives†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦17 Exhibit 3 – SFAS Matrix†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦23 Strategic Alternatives and Recommended Strategy†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 18 Strategic Alternatives†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢ € ¦.. 18,19 Recommended Strategy/Implementation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 19,20 Implementation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 20 Evaluation and Control†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 20,21 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦21 Works Cited†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢ € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 24 I.Current Situation A. Current Performance Successful from the start * Currently there are five company-owned and 329 franchised RMCF stores operating in 38 states * Continuous revenue increases from year to year (around $16,678,472 in 2008) * During this time of economic decline that had arose, the sales began to slow up but Rocky Mountain Chocolate Factory seems to be in great shape under all financial aspects to survive the recession. B. Strategic Posture Here is the original mission, objectives, and strategies of the company.RMCF is always looking to become more and more successful from what they already have and hope to continue doing well now and in the future. 1. Mission: The Company does its finest to stay fine-tuned and focus on franchising and manufacturing. * They guarantee goo d quality, taste, value, and variety of all their products * Their number one focus and factor is the quality of the product 2. Objectives: RMCF is always wanting to be known and therefore their customers and employees are huge for the company.They are always doing their best to stay in the seat they are in now by staying successful, continuing to gain customers, popularity, and even profits as a whole. * Continue to keep a good relationship with all employees and with the franchises as well * They are always sure to handle and manage their money in all the proper ways even during the time of the 2008 economic slump * Always had an eye open to slow factors down during this rough time (expansion and eliminate debt) 3.Strategies * Rocky Mountain Chocolate Factory is repurchasing stock here because they felt as if it was undervalued * Different kinds of candy, such as sugar free treats for individuals who choose to be more healthy or who cannot have the candies with all the sugar in th em * The company owns refrigerated trucks to make it simple to move products from the factory to stores * Putting stores in areas of tourist, entertainment, and street front locations to gain more and more attention. Stores are set up for customers to be able to not resist the smell and sights of all the goodies (will keep them coming back) 4. Policies: RMCF consists of many different polices as most places do. The company wants to always continue increasing accountability, revenue, customers, and all the positives that have been such a success for the company while also reducing bottlenecking. All franchisees are expected to hold a high level of excellence * Believe they should control the manufacturing of its own products in order to better maintain its high product quality standards * RMCF sends their trucks from factories to stores with products and then brings back more ingredients for the next product so they can save trips and be more cost effective * Stores must be placed fa r enough apart and in good locations so that the company has the best possibility for success * All stores have the policy of sample in the store so customers can see and try what they are going to purchaseThe current mission, objectives, strategies, and policies reflect the company under many aspects. It continues to be successful, expand the customer culture, and accessibility. RMCF created a leading business model that was truly effective. With all the company has accomplished it continues to keep an eye open and look to consider changes if needed. II. Corporate Governance A. Board of Directors Due to the type of company, it is restricted by law to have no fewer than three and no more than nine directors on the board.The company previously decided on having 6 directors with Crail and Merryman being the only two internal board members. 1. Franklin E. Crail- Founder of the first RMCF, Chief Executive Officer, President, and a director. Bryan J. Merryman- Vice President, Finance & c hief financial officer, chief operating officer, director and a treasurer. Others directors include: Gerald A. Kien – Former chief executive officer of Remote Technology. Lee N. Mortenson – Former managing director at Kensington Partners LLC. Clyde W.Engle – Chairman of the board of directors and chief executive officer of Sunstates Corporation. Fred M. Trainor – Chief executive officer and president of AVCOR Health Care Products Inc. With the exception of Franklin E. Crail who was the co-founder of RMCF and Bryan J. Merryman, the Board of Directors of Rocky Mountain Chocolate Factory is composed of all external-independent board members. The directors do not receive any kind of compensation for serving on the board.However, they do receive compensation for serving other things such as serving certain board committees, leading committees, and when getting involved in meetings. Directors who are not officers or employees of RMCF are entitled to receive s tock option awards. RMCF is publically traded and listed on NASDAQ Global Market. For each share of common stock held, a shareholder is entitled to one vote on all matters. There are different rights as all matters could be voted on except the election of directors. Shareholders on the board had cumulative voting rights in the election of directors.The Board of Directors has frequently paid out quarterly cash dividends usually to common share outstanding. The RMCF board of directors are equipped with a wide variety of skills, interest, knowledge and background. The board members contribute numerous experiences in different positions from multiple companies. It seems that none of the directors were ever in the food industry before. Franklin E. Crail co-founded the first Rocky Mountain Chocolate Factory store in May 1981. Since, Crail has served as its President, Director, Chairman of the Board, and CEO.Before finding the company, he was co-founder and President of CNI Data Processing Inc. Bryan J. Merryman has experience in leverage buyout firms, retail and manufacturing of aftermarket auto parts, consulting, financial advisory, and risk management. He has been with RMCF since 1997. Lee N. Mortenson has been with the company since 1987 and has been involved in consulting and investment activities since 2000. He was the managing director of a private investment firm and has been President and CEO of a company that provided management consulting and investment services.He has also been involved in real estate development and manufacturing. Gerald A. Kien became part of the company in 1995. He had just retired from his position as President and CEO of a company involved in the development of instrumentation for vehicle emissions testing. He also had previously been on the board of Sun Electric which is a company that deals with the oilfield, wind farms, and transmission construction industries. Clyde W. Engle became part of the company and had experience in profes sional property management as well as in a one-bank holding company.RMCF has a total of 41 franchise stores internationally. Based on what some of the directors use to do in the past, it is clear that they have the experience to work with international operations of the company and help benefit RMCF. When it comes to the environment, it can be said that RMCF board members are concerned with its environment. To start with a simple example, Crail had to scope out the perfect environment where to build his company. He moved from California to a smaller town where he started to survey the environment to make sure that it was a good place to open a chocolate shop.Crail had to make sure the environment was going to be a contribution to the success of the organization. RMCF was first located right on the main street for location and was right by the river which was a tourist attraction. The smells caught the noses of the tourists that came to town for the attractions. The company then cont inued to establish RMCF stores in five primary environments such as regional centers, tourist areas, outlet centers, street fronts, and airports and other entertainment oriented areas. The board members have been around for quite some time. Starting from 1982 to 1987, 1995, 1999, 2000, and 2009 basically.Even previously from 1987. The board seems to be deeply involved with strategic management of the company, controlling all from where stores are located to how training is conducted. When it comes to decision making on what to do with the company, the board of directors at RMCF tend to agree upon what to do as a team. They take care of all major aspects of the company. For example, they are in charge of resources and performance in the environment. With the co-founder being part of the board, strategic management works in a way that they all come to an agreement on, the board and no one is voted out.The board is able to run an evaluation on performance and many other aspects. All bo ard members participate and stick to a strategic plan to come to an agreement for the company. B. Top Management When it comes on to top management at RMCF it is up to the internal employees that are all part of the board. Listed below are some individuals that are part of RMCF top management: Frankiln E. Crail- Chief Executive Officer, President, and Director Bryan J. Merryman- Vice President, Chief Financial Officer, Chief Operating Officer, and Treasuer Edward L.Dudley- Senior Vice President- Sales and Marketing Gregory L. Pope- Senior Vice President- Franchise Development and Operations Jay B. Haws- Vice President- Creative Services William K. Jobson- Chief Information Officer Virgina M. Perez- Corporate Security Similar to the board of directors, top management of RMCF comes from a lot of different backgrounds. All of them are experienced in their field, but none of them before had ever had experience in the food industry. Some of the top management individuals consist of Crail , Merryman, Dudley, Pope, haws, and even a few more.Top management at RMCF are responsible for the different franchises and the growth of the company. They use top management as a form of recognition style so they can use it to expand and open more franchise stores. This will allow them to open more stores with no capital investment. Top Management also has international experience similar to the board of directors, because some of the individuals are both on the board of directors and top management. They have had to interact with others internationally and learn how to work with others from all over as well.That is why RMCF continues to stay towards the top and seems to most of the time be doing very well. There have been different ways and ratios looked into that determine if top management is effective and if they have an impact on the corporation’s performance over the past years. The ratios turned out looking rather well for RMCF in that the company is doing well and to p management has been responsible for these corporation performances over the past few years. This means that the management is aware of their resources and are using them to the company’s advantage.About half of the top management have been promoted internally. They started off as a store manager, franchise owner, or working their way up through the company. Some of these managers have been with the company since it first merged in the early 1980’s. Top management has established a systematic approach to strategic management. As mentioned above, the committee consults the board on making the right organizational decisions. By placing intense focus on Environmental Scanning of strategic management, RMCF has been smart and placed store locations in tourist areas, or high levels of foot traffic.Top management of RMCF is deeply involved in the strategic management process of the company. They are in charge of the mainstream controls that their franchise branches do. There fore, top management is truly involved. When it comes to deciding store locations, directing training, and providing ingredients, these are all decided upon in their original Durango, Colorado location. At RMCF top management is heavily involved in the interaction with lower level managers and the board of directors. Top management consults with the lower levels when deciding what to do and what strategies they can come upon that will best suit the company.Even though top management is higher up then the lower levels, they must come to agreements on certain strategies before making changes. Therefore, top management does play a very important role when it comes to interacting and communicating with lower level managers and board of directors at RMCF. By interacting and communicating helps the company rise above and stay ahead of competitors. RMCF is great with their interaction at all levels and that is what allows for it to be one of the leading chocolate factories worldwide. Decis ions at RMCF are made ethically in a socially responsible manner.If there is ever any concerns or anything that could be harmful to the company name, system, or reputation they are strictly prohibited. Along with the ethical manners of RMCF, environmentally sustainable manners come into play. From what RMCF can control, they want to always maintain an environmentally sustainable manner. With most things they are able to do so but with cocoa beans that are the main raw material used to make chocolate and grown in Africa and several other countries, RMCF cannot directly regulate if those countries are leading themselves in an environmentally sustainable manner.There are many different rules, regulations, and concerns that need to be kept under tight control with the company. From the case, one can see that RMCF’s top management is sufficiently skilled to cope with any future challenges. All of the top management team comes from truly experienced backgrounds and are prepared to withstand any recessionary forces that are knocking the U. S. economy. III. External Environment: Opportunities and Threats (SWOT) A. Natural Physical Environment: Sustainability Issues 1. Some natural climate issues that could affect the company would be heat, rain, and snow.Some weather related issues would be hurricanes and earthquakes that would affect traffic, tourism, and crop production (cocoa beans). 2. These forces would affect different regions of the world depending on the season and location. There might be different weather-related events, but different types would affect each region. B. Societal Environment Economic Economic is a current threat because the economy is dealing with a current recession. Spending is down and chocolate isn’t a necessity, which means there will be less chocolate being consumed. TechnologicalTechnology is an opportunity for RMCF. One example is that with online shopping increasing, consumers can buy as much of the product as they want right from their phones or computers. Also, technology can speed up the production process. Machines can do a lot more work as well, which will limit the amount of work that workers have to do by hand. This will increase the overall quality and consistency of the product. Political-Legal Political-Legal can be a threat to this corporation. Working in a factory can be somewhat unsafe. There are always health and safety issues in any workplace.There are also fair-trade regulations, import and export regulations, licensing agreements and child labor laws that have to be enforced. Sociocultural Sociocultural is an opportunity for this corporation. Based on research, dark chocolate has many health benefits. Some of these benefits include limiting the risk of diabetes, heart attacks, and strokes. Dark chocolate can also lower blood pressure and cholesterol, and increase sugar metabolism. This will increase consumer spending on dark chocolate if consumers believe that it is healthy for the m. These forces would be different in other countries.This is because every nation is not at the same developmental stage, in terms of Economic, Technological, Political-legal, & Sociocultural. Some countries are ahead of the U. S & others are behind. C. Task Environment 1. Forces that drive industry competition are prices, geographic locations, large corporations entering the market, and prime retail locations. a. Threats of new entrants: High: Nestle and mars are two of the top food manufacturers in the world. With low entry barriers and having to compete with these established corporations there is a high threat. b.Bargaining power of buyers: Medium: Consumers have other options to choose from besides RMCF. They can buy chocolate from whomever, but with their prices, consumers are still choosing RMCF. c. Threat of substitute products/services: High: There are many substitutes to gourmet chocolate and with the economy; consumers might fall for the lower prices and easy access to d ifferent products. d. Bargaining power of suppliers: Low: RMCF has an advantage over other suppliers because of their fixed pricing and alternative supplier options. e. Rivalry: High: There has been an increase of entrants into the industry.Chocolate can be an easier industry to buy into with the health benefits and low entry barriers. f. Relative power of union, governments, and special interest groups: Medium: Consumer demands, union demands, and government regulations present challenges for RMCF. 2. Key factors in the immediate environment are: * Consumers demand for quality and healthy products. * Big name competitors like Nestle and Mars entering the market. * Suppliers providing ingredients at a fixed cost. * Labor unions and employers working together to produce raw materials at a low cost D. Summary of External FactorsSee Exhibit 1: Find at end of paper Consumer demands and competition are the most important factors to the corporations and industries in which it competes at the present time. Without consumers buying the product, the company cannot survive. Even though there are other factors that weigh into consumer happiness, it all boils down to if they like the product, if they can afford it, and if they choose it over other competitors. In the future it will still be the same, there will still be other competitors that will be coming out with new and improved products. Consumers can change company preference at any time.RMCF has to keep fixed prices as good or better with the products that are similar to that of their competition in order to keep their consumers around. IV. Internal Environment: Strengths and Weaknesses (SWOT) A. Corporate Structure Rocky Mountain Chocolate Factory prides itself on its history. It was built around location and lifestyle, which has helped shape its corporate structure that is used to this day. Rocky Mountain Chocolate Factory uses a divisional corporate structure that focuses in three areas; product, market, and geo graphic. Product is the first and foremost important element for the Rocky Mountain Chocolate Factory.As said by one of the Co-founders Franklin Crail â€Å"The number one factor is the quality of the product, without that customers aren’t going to stay around long† (book p26-3). Rocky Mountain Chocolate Factory is known for its specialty chocolate treats such as; nut clusters, caramels, butter creams, mints, and truffles. RMCF also tries to stay innovative with its products, having recently introduced sugar free and no sugar added candies. Chocolate isn’t the only sweet treat that Rocky Mountain Chocolate Factory offers, however, they also offer an array of fudges and caramel apples.Market structure is the next piece that fits into Rocky Mountain Chocolate Factory’s divisional corporate structure. Market structure comes into play with the different groupings of employees that Rocky Mountain Chocolate Factory has as a whole. They can be divided up into ma nufacturing its own trucking operations, store employees, factory employees, and corporate management. Splitting up the employee force and grouping everyone with the same or similar groups together is the main purpose of the market structure as part of the divisional structure as a whole.The last piece of Rocky Mountain Chocolate Factory’s divisional corporate strategy is geographical structure. This groups employees come together on a basis of where they are located. This is important for Rocky Mountain Chocolate Factory because it an international company with stores all over the United States, Canada, and the United Arab Emirates. The placement of the shops is also a key element to the success of the store. The main environments are; regional centers, tourist areas, outlet centers, street fronts, and airports. B. Corporate Culture â€Å"The Peak of Perfection in handmade Chocolates†Rocky Mountain Chocolate Factory has a very unique corporate culture. It truly tries to live up to its tagline of being â€Å"The Peak of Perfection in Handmade Chocolates†. As a company they accomplish this by making all the shops a blend of traditional and contemporary styles. They also sought to make each store a fun and inviting place to be for both its workers and the customers that stop in. In each store it is possible to see the chocolates being made by the workers, thus showing that the chocolates really are handmade, as promised by the tagline of the company.Another important aspect of the Rocky Mountain Chocolate Factory corporate culture is its franchising philosophy. It is always looking to improve its franchise support systems and has a high level of service and commitment to its franchises. The company realizes the importance of supporting and monitoring all of its franchises, because they are a direct reflection of the company. C. Corporate Resources 1. Marketing Rocky Mountain Chocolate Factory runs on low-cost, high-return publicity opportuni ties. This is through taking advantage of local and regional events, sponsorships, and charitable causes.A large national marketing plan was never something that Rocky Mountain Chocolate Factory was interested in. Instead the company preferred to use things like coupons, flyers, and mail-order catalogs generated in house using its Creative Services Department. This department also works directly with each franchise. 2. Finance RMCF is consistently making a profit, allowing operating expenses to increase, and it also has multiple income sources. Rocky Mountain Chocolate Factory’s financial situation can best be seen through the use of a graph. This graph breaks down the company’s financial situation for the past five years. | YEARS ENDED FEBRUARY 28 or 29,| | Selected Statement of Operations Data| | 2012| | | 2011| | | 2010| | | 2009| | | 2008| | Total revenues| | $| 34,627| | | $| 31,128| | | $| 28,437| | | $| 28,539| | | $| 31,878| | Operating income| | | 5,853| | | | 5,950| | | | 5,671| | | | 5,819| | | | 7,914| | Net income| | $| 3,876| | | $| 3,911| | | $| 3,580| | | $| 3,719| | | $| 4,961| | | | | | | | | | | | | | | | | | | | | | | Basic Earnings per Common Share| | $| . 63| | | $| . 65| | | $| . 60| | | $| . 62| | | $| . 78| | Diluted Earnings per Common Share| | $| . 62| | | $| . 62| | | $| . 58| | | $| . 60| | | $| . 6| | Weighted average common shares outstanding| | | 6,111| | | | 6,051| | | | 6,013| | | | 5,985| | | | 6,341| | Weighted average common shares outstanding, assuming dilution| | | 6,295| | | | 6,290| | | | 6,210| | | | 6,157| | | | 6,501| | Selected Balance Sheet Data| | | | | | | | | | | | | | | | | | | | | Working capital| | $| 10,573| | | $| 9,831| | | $| 8,930| | | $| 7,371| | | $| 5,152| | Total assets| | | 24,163| | | | 21,439| | | | 18,920| | | | 16,841| | | | 16,147| | Stockholders’ equity| | | 18,736| | | | 16,654| | | | 14,731| | | | 13,242| | | | 11,655| | | | | | | | | | | | | | | | | | | | | | | Cash Div idend Declared per Common Share| | $| . 400| | | $| . 400| | | $| . 400| | | $| . 400| | | $| . 390| | 3. Research and Development (R&D) Rocky Mountain Chocolate Factory knows the importance of keeping up with consumers wants, needs, and most importantly tastes. With the recent health raze, doing research and development was necessary to find out what in fact the consumers actually wanted from their chocolate companies. Due to this health craze the demand for dark chocolate has seen a significant increase. Also due to the health conscious, there has been research on chocolates that have been enhanced with minerals, vitamins, antioxidants, and probiotics. Another trend that has become apparent in the chocolate industry is the want for ethical and fair trade chocolate. Consumers were showing concern about supporting cocoa farms that used child labor. Due to this consumers were choosing to support companies that could prove they were using only â€Å"ethical† cocoa products. 4. Operations and LogisticsRocky Mountain Chocolate Factory’s operation and distribution objectives are all about maintaining the quality and freshness of its products. As a company Rocky Mountain Chocolate Factory encourages its franchise stores to only order what they can realistically sell in a two to four week time frame, this ensures freshness. Rocky Mountain Chocolate Factory’s manufacturing process primarily involved cooking or preparing the candy. This is done in a temperature controlled room with strict quality controls in place to ensure that only best candies make the cut. While most of the candy is still handmade, there has been some change to automated processes if it makes sense to do so from a financial aspect.A large part of Rocky Mountain Chocolate Factory’s operations deal with its distribution or truck shipments. When it appeared that there couldn’t be a suitable shipper found, Rocky Mountain Chocolate Factory created its own fleet of semi s. By doing this it enabled the company to deliver its products to the stores quickly and at an extremely cost efficient and effective price. Having its own fleet to haul and return products and supplies has become not only a convenience for Rocky Mountain Chocolate Factory, but an extremely business savvy move. 5. Human Resources Management (HRM) Most of Rocky Mountain Chocolate Factory’s employees are employed and paid on an hourly basis. At times, the employment of temp or seasonal help was used.Rocky Mountain Chocolate Factory prides itself on staying competitive in its industry with regard to pay, benefits, and working conditions. The company is big time on the emphasis of respect, commitment, and professionalism. As far as human resources and employee relations go, Rocky Mountain Chocolate Factory rates itself as very good! 6. Information Technology (IT) Rocky Mountain Chocolate Factory uses social media as a main source of its information systems. Its main social media resource is Facebook. It allows for customers to â€Å"like† their page to receive special information and deals regarding the company. It also has a link to Facebook on its homepage on the corporate website. They also use Twitter and Instagram.Besides these information systems the company uses, the stores operate independently from main corporate structure and some other aspects of its operations the company uses information technology for shipping, sales performance, inventory control, and accounting. D. Summary of Internal Factors See Exhibit 2: Find at end of paper V. Analysis of Strategic Factors (SWOT) A. Situational Analysis See Exhibit 3: Find at end of paper Here we just laid out some of the important strengths, weaknesses, opportunities, and threats that were important when it comes to RMCF. By looking at the SFAS Matrix: exhibit 3 at the end of the paper one can see of the external(EFAS) and internal(IFAS) factors and which of each are the most important that have a strong impact on the company’s present and future performance. Strengths * Strong Franchise Program Rated an outstanding franchise in 2008 by the Entrepreneur magazine * March 31st there were 329 franchised stores * Visibility of its stores and the high foot traffic generated strong name recognition High Quality Product (won the 3 heart rating in a blind taste test) Strong mix of different kind of ingredients * During holiday seasons, company made as many as 100 additional items * Developed a new line of sugar-free and no-sugar added candies * According to the company, â€Å"results have been ‘spectacular’, filling a need for those with a special dietary requirements† * Careful selection of store sites * Highly cohesive corporate culture * Trademarks * Big, chunky chocolate concoctions * The Bear Paw-sized concoction of chewy caramel, roasted nuts and heavy coating of chocolate * Caramel apples followed by the Bear was the best selling Weaknesses * Glob al presence * Sale of chocolate and confectionary products was affected by changes in consumer tastes and eating habits * Negative impacts * Equity market levels * Consumer confidence * Job growth * Consumer disposable income and spending levels * Unemployment rates * Recessionary and inflationary trends * Energy prices Opportunities * New environments for success * Automation increase the speed and efficiency of the manufacturing process * Significant opportunities existed to expand into tourist area * Airport locations Accelerate the opening of stores in high volume airport locations * Sport Arenas * Kiosks * Enhanced franchise opportunities by providing flexibility in support of existing franchisees’ * Incorporated the company’s trademark cooking areas * Low cost marketing * Focused primarily on local in-store marketing * Fixed price contracts Company owned trucks * In 2008, owned eight refrigerated trucks and shipped substantial portion of its products from its fac tory * Cost effective, and quick delivery * Human Resources * Provided working conditions, wages, and benefits that compared favorably with its competitors * High performance expectations, mutual respect and professionalism existed throughout the company Threats Weather * Crop farming * Tourist areas * Competitors * Mars Inc. * Fanny May * Godiva Chocolatier * Large annual sales, and was one of the leading chocolate businesses * Scharffen Berger and Joseph Schmidt * Ethel M Chocolates * See’s Candies * Hershey * These companies not only manufactured chocolate but also had their own retail outlets * Numerous businesses that offered confectionery products, from large to small privately owned local businesses * Influence of sales affected by * Traffic patterns * Economic conditions * Demographic conditions B. REVIEW OF MISSION AND OBJECTIVES Mission Built around a location and a lifestyle. The number one factor is the quality of the product, without that customers aren’t going to stay around long. † (Page26-2) The Company believed that its store atmosphere and ambiance, as well as its brand name recognition and its careful selection of sites for new store and kiosks, merchandising and marketing of chocolate and other candy products, expertise in the manufacture, and commitment to customer service are key to the accomplishment of its objective to build on its position as a leading international franchiser and manufacturer of high quality chocolate and other confectionary products. †¢ Quality, taste, value and variety of products †¢ Quality of the product is the number one factor Objectives Manage money carefully during economic downturn †¢ Slowed expansion and elimination of debt †¢ Maintain a good relationship with employees as well as franchisees Rocky Mountain Chocolate Factory has continued to maintain its mission and objectives appropriately during times of expansion as well as recession. VI. Strategic Alternatives and Recommended Strategy A. Strategic Alternatives The current and revised objectives are met rather well in this case and in any situation there can be implementation and improvement of the company’s strategies to make it even better. The alternative strategies are the Growth strategy, stability strategy and the retrenchment strategy.Cost leadership and differentiation play a part under strategic alternatives as well. 1. Stability Strategy: Stability strategy is when corporate strategies need to make no changes to the company’s current direction of activities. Therefore, RMCF fits pretty well under this because from the case one can see that they were doing rather well and never seemed to dip down by much at all. RMCF does not need to change any major things they just need to be sure and remain on the same page all the time and fix any small things that may occur. PROS: Stability strategy is rather cheap and will take the least amount of time. It also allows for appropria te training of any new franchisees.CONS: With a stability strategy it may only be short term solve or could end up resulting in loss of market share. 2. Growth Strategy: The concentration can be either vertical growth or horizontal growth. Vertical growth consists of taking over another company and this strategy would somewhat be beneficial for RMCF at this time because they tend to be doing well and if they were to take another place over and run it as they run their own company things would continue to be well off. Horizontal growth is spreading into other geographical locations. Horizontal growth is also something that RMCF is looking to do at this point because expanding into different geographical areas will benefit them and let them continue to become known all over.The diversification strategies involve concentric and RMCF seems to have a pretty strong competitive position in the industry world. Conglomerate diversification comes into play here too and RMCF seems to be pretty well and in a good spot with their cash making company. With these two characteristics, diversification strategy should work. The horizontal growth is huge through franchising at RMCF. PROS- RMCF could continue reaching and expanding to different new markets as profits continue to move forward. CONS- The growth strategy may not allow enough time for all the planning that is needed. 3. Retrenchment Strategy: Retrenchment strategy is corporate strategies to minimize the company’s level of activities and to return it to profitability.This strategy can be considered a quick fix of financial problems and this has helped for RMCF to stay on their feet and never fall to low under most aspects. There were a few times they slipped but then managed to get back on their feet and fix problems. With retrenchment strategy, it is there if RMCF would need it but the company is doing fairly well and has never been in that much of a slump to be bought out by another company or to even claim b ankruptcy. PROS- Retrenchment strategy is here and handy if RMCF were to need it. CONS- If RMCF did ever get into such a terrible spot, this might not help. 4. Cost Leadership: Cost Leadership can be described as a low-cost competitive strategy that aims at the broad mass market.RMCF can tie in with cost leadership because it has been truly successful and has set prices that the company believes works as a competitive strategy because their consumers agree on them and continue to come back for more in that they are satisfied. PROS- Keep consumers around and gain more from the broad mass market with a low-cost competitive strategy. CONS- Other companies will begin to do the same and try to be even better while trying to gain RMCF’s consumers. 5. Differentiation: Differentiation is huge for RMCF because this is a competitive strategy that is targeted at the broad mass market and which involves the design of a product or service that is viewed throughout its industry as exceptio nal.RMCF fits perfectly under differentiation because from the start Crail wanted the industry to be different than any other and successful with the unique products it produced. PROS- Practical for above average earnings because of the exceptional products that consumers want more of and tend to not care about the price. CONS- There could be more losses during tough times because of the differentiation products being as a luxury. B. Recommended Strategy Here, growth is the recommended strategy for Rocky Mountain Chocolate Factory. With doing very well most the time and being able to fix what the company needs to, their business and functional strategies that the company use seem to be working well. The U. S. candy market was doing extremely well around 2009, with chocolate generating billions of dollars in sales.As of March 31, 2008, Rocky Mountain Chocolate Factory consisted of five company-owned and 329 franchised stores operating in 38 states, Canada, and the United Arab Emirate s. All the Franchising, licensing, and exporting will help its ability to resolve both long and short-term goals of the company. There are not too many policies that should be developed or revised with RMCF to guide them with effective implementation. They seem to do rather well. If something does go wrong they find the best way to go about bettering it for present and future reference. The company has to always remain on its toes though because anything could change at any time. By following and sticking to good policies will benefit the company in many ways.The impact of knowing what is going on and being ready for anything to happen at any time will have positive impact on the company’s core and distinctive competencies. VII. Implementation In order for Rocky Mountain Chocolate Factory to continue being a front runner in the gourmet chocolate industry they need to continue going on the path that they are on. They have a loyal consumer base and are keeping up with the wants and needs of their consumer base. By continuing to offer their homemade quality chocolates online, in stores, and in kiosk’s around the world they are providing their product to consumers in many ways. Rocky Mountain Chocolate Factory has a solid structure set up as far as top management and board members are concerned. For assurance that RMCF ontinues to be one of the top leaders in the gourmet, homemade, chocolate industry it is important that they keep listening to their customers wants and needs. VIII. Evaluation and Control Is the current information system capable of providing sufficient feedback on implementation activities and performance? Can it measure strategic factors? The current information system is capable of providing sufficient feedback on implementation activities and performance because the external and internal elements determine the future of the corporation. The strengths, weaknesses, opportunities and threats help the company sort out the monitoring, evaluating, and disseminating of information.Using the SWOT analysis helps defining the corporate mission, specifying achievable objectives, developing strategies, and setting policy guidelines. The fact that this company is built around a location and lifestyle, and that the quality of the taste, value and variety of products are important to them as a whole is why they succeed. They realize that in order to keep profit coming, they need to manage money carefully during economic downturn as well with a slowed expansion to help eliminate debt. Customer satisfaction is important as well because if the customer is not satisfied with either the product or the service they are receiving they will not be returning.Rocky Mountain Chocolate employees pride themselves in making a good name for the company, which is why they are so successful with expansion. â€Å"The number one factor is the quality of the product, without that customers aren’t going to stay around long† (Page 26-2). Rocky Mountain Chocolate Factory has had a very strong franchise with the fact that they were rated an outstanding franchise in 2008 by the Entrepreneur magazine. Are adequate control measures in place to ensure conformance with the recommended strategic plan? Appropriate standards and measures are being used to enhance conformance with the recommended strategic plan because they are being rated on the quality f the products they are producing. They were able to overcome the hard times of the economy in the U. S over the recent years by managing their money effectively. The company has their own special features and products that make them stand out over their competitors. With special holidays, they make over 100 different products to help ensure business with different options. Conclusion In closing, we believe the Stability strategies of â€Å"make no changes† to the company’s current activities is the best recommendation we can give for Rocky Mountain Chocol ate Factory at this time. Exhibit 2- IFAS Table for Rocky Mountain Chocolate Factory|   |   |   |   |   |   |   |   |Internal Factors|   |   | Weight| Rating| Weighted Score| Comments| Strengths|   |   |   |   |   |   | High quality products|   | 0. 2| 5. 0| 1. 00| Can have high prices with loyal customers| Uniformity throughout every store| 0. 1| 4. 0| 0. 40| Keeps customers happy and satisfied| Efficient cost structure| 0. 1| 2. 5| 0. 25| Promotes growth & increases profits| All stores are efficient and organized|   |   | 0. 1| 4. 0| 0. 40| Also promotes growth & increases profits| |   |   | | | | | |   |   |   | |   |   |   | Weaknesses|   |   |   | |   |   |   | A lot of competitors that are also strong|   |   |   | 0. 2| 2| 0. 40| Have to do best to always protect market share| Special items|   |   |   | 0. 1| 2| 0. 0|   With difficult economic times sales can change| Proper operation of franchises is key|   |   | 0. 1| 1. 5| 0. 15| Keep head up in case of store mismanagement| Growth of company can be risky|   |   | 0. 1| 2| 0. 20| Must always stay on top with growth & managing it| |   |   | | | | | |   |   |   | |   |   |   | Total Scores|   |   | 1. 00|   | 3. 00|   | Exhibit 1- EFAS Table for Rocky Mountain Chocolate Factory|   |   |   |   |   |   |   |   | External Factors|   |   | Weight| Rating| Weighted Score| Comments| Opportunities|   |   |   |   |   |   | Natural- recession recovery|   | 0. 05| 2. 5| 0. 13| Economy going towards recovery stage| Economic- low cost marketing strategy| 0. 05| 4. 6| 0. 3| Higher profits because of low cost facilities| Technological- multiple manuf. & automated processes| 0. 21| 4. 9| 1. 03| No value added, reduces inventory| Consumers happy & will pay more for product|   |   | 0. 07| 3. 5| 0. 25| profit will increase if demand for product does| Trucks owned by the comp any|   |   | 0. 12| 4. 5| 0. 54| Low transportation & efficient delivery|   |   |   |   | |   |   |   | Threats|   |   |   | |   |   |   | Natural- other companies move into market|   |   |   | 0. 23| 3. 8| 0. 87| Competition increases and causes lower prices| Economic- trade regulations|   |   |   | 0. 08| 1. 4| 0. 11|   Upset consumers, increase in labor costs| Labor force strikes|   |   | 0. 04| 1. 4| 0. 6| There would be no production of ingredients  | Regulations with the trucks|   |   | 0. 07| 2. 5| 0. 18| Increase in operating cost if slow delivery| Picking where to purchase a franchise location|   |   | 0. 08| 2| 0. 16| There would be no service if not in a good area|   |   |   |   | |   |   |   | Total Scores|   |   | 1. 00|   | 3. 56|   | Exhibit 3 – SFAS Matrix for RMCF| | | | | | | | | | | | | | | | | | | | | | Strategic Factors| Weight| Rating| Weighted Score| Duration Comments| | | D uration| Comments| | | | | | | | | | | | | | | | S1 High Quality Products (S)| 0. 13| 5. 0| 0. 5 | Long High prices, loyal customers| | | Long| Very important income stream| | | | S4 Stores efficient & Organized (S)| 0. 13| 4. 0| 0. 52| Long Promotes growth & increases profits| | | Long| Well known brand| | | | W1 A lot of strong Competitors (W)| 0. 11| 2. 0| 0. 22| Intermediate Do best to protect Market share| | | Long| Developing tech. may hurt advertising income| | | | W2 Special Items (W)| 0. 11| 2. 0| 0. 22| Intermediate Sales can change during hard times| | | Long| If internet packages change, income from partnerships may change| | | | W3 Proper operations of franchises (W)| 0. 13| 1. 5| 0. 95| Long Keep head up for store mismanagement| | | Intermediate| Focusing on too many market segments| | | | W4 Growth of Company (W)| 0. 11| 2. 0| 0. 22| Long Stay on top with managing growth| | | Intermediate| You don't Yahoo! it, you google it! | | | | | | | | | | | | | | | | O2 Economic (O)| 0. 07| 4. 6| 0. 322| Intermediate Higher profits: low cost facilities| | | Intermediate| Computers, cell phones, ipads, etc. | | | | O3 Technological (O)| 0. 07| 4. 9| 0. 343| Long No value added, reduces inventory| | | Long| Alliances with other countries. New laws, regulations, etc. enforced. | | | T1 Natural (T)| 0. 07| 3. 8| 0. 266| Intermediate Competition increase causes low prices| | | Intermediate| One media type having easier access than another| | | | T4 Regulations with trucks (T)| 0. 07| 2. 5| 0. 175| Short Increase in operation cost if slow delivery| | | Long| New laws and regulations internationally could put limits on Yahoo! | | | | | | | | | | | | | | | | Total Scores| 1. 00| | 3. 13| | | | | | | | Work Cited Doheny, K. (2012, April 24). Choose dark chocolate for health benefits. Retrieved from http://www. ebmd. com/diet/news/20120424/pick-dark-chocolate-health-benefits Franchise Store News Room. (2011). Retrieved March 5, 2013, from http://www. rmcf. com/CA/Sa cramento50028/news. asp? Hunger, J. D. ; Wheelen, T. L. (2012). Strategic management and business policy (13th ed. ). Upper Saddle River, NJ: Pearson Education Inc. Rocky Mountain Chocolate Factory Inc. (2013). Retrieved March 5, 2013, from http://www. reuters. com/finance/stocks/companyOfficers? symbol=RMCF. O Rocky Mountain Chocolate Factory Inc. – Form 10-K (2010). Retrieved February 26, 2013, from http://www. faqs. org/sec-filings/100518/ROCKY-MOUNTAIN-CHOCOLATE-FACTORY-INC_10-K/