Marketing Communication Equity and Advertising

Question: Discuss about the Marketing Communication for Equity and Advertising. Answer: Introduction Brand is any symbol or feature that distinguishes a product from its competitors(Keller Parameswaran, 2011). Brand power of firms differs because of their marketing activities, image, size and positioning. Dominos Pizza is an international chain of fast food restaurants headquartered in USA. Dominos was founded by Tom Monaghan in 1960. In 2004 it was listed on New York stock exchange(Domino's, 2016). Dominos has a franchise system of operations and operates in 81 countries making it the second largest international pizza chain. Dominos Australia is the Australian based franchise of Dominos. Dominos has a 25% market share in fast food industry in Australia (Domino's, 2016) Therefore it is a very well established brand. Pizza Capers is an Australian fast food chain based in Queensland and has expanded to Singapore but is still small in comparison to Dominos. The firm has 110 stores across Australia and is owned by Retail food Group. The firm has 4% market share(Pizzacapers, 2016). Both Dominos and Pizza Capers exist in the same industry that is fast food. However, they cater to slightly different market segments. While Dominos tries to position itself as a brand which offers Pizza for youth and family entertainment(Domino's, 2016). Pizza Capers focus more on in-house ambiance of the restaurant. Pizza Capers is similar to Dominos as both are now focusing on online ordering and delivery however the brands have different appeal for customers. Brand positioning strategy Positioning is the image that the brand occupies in the mind of the consumer(Gabam, 2015). Firms use various strategies to create a favorable impression on the customers regarding the brand. Creating awareness about product features or using price as an impact creating tool are some of positioning strategies. Delivery process and product experience can also be used as positioning strategies(Temporal, 2011). Dominos Pizza focuses on product quality, variety in flavors and product experience as the major positioning strategies. Family and youth enjoyment is also a major ploy through which the firm tries to create a favorable impression in the customer mind(Domino's, 2016). Dominos through its marketing activities has been successful in associating family entertainment with its Pizza. Convenience of takeaways and delivery is also a positioning strategy which has endeared Dominos pizza as a top brand worldwide. On the other hand, Pizza Capers is a smaller brand in comparison. However, they have also used positioning strategy to acquire a part of the market share. Delivery and product quality is used as the main positioning strategy. Pizza Capers tries to ensure product quality. Therefore, their promotional strategy focuses on on-time delivery. Pricing is also a main positioning strategy. They have kept the prices lower than the top brands to attract customers. Therefore, Dominos and Pizza Capers are similar in positioning strategy in terms of delivery however, different in terms of pricing. Brand Identity Brand identity is the perception of the customers about the brand or the way the brand wants itself to be identified(Wheeler, 2010). Elements of brand identity are Logo, name, tagline etc. Companies create brand identity to convey the value association that the brand is trying to create for the customer(Dahlen, 2014). Brand identity displays the impression that the firm generates in the customer mind through various cues like its logo. Dominos is an international brand. The red and blue logo of Dominos used worldwide is very recognisable. Fast delivery and hot pizza are associated with its tagline.(Domino's, 2016) The firm uses marketing communication and advertising to convey its message. Dominos also uses cartoon characters to create an identity of family enjoyment (Domino's, 2016). Additionally, the colour red and blue are attractive to children. Therefore, Dominos has a clear and strong brand identity Pizza Capers is a smaller brand. However, it also has a very strong and identifiable logo with its name written in bold letter. The colour is white and brown which may not be as attractive to youth and children as red and blue of Dominos. Pizza Capers focuses on home delivery as a tagline(Pizzacapers, 2016). Though people associate the brand with quality product delivery the firms brand identity has not yet become as deep rooted in the customer mind as Dominos. The firm has successfully achieved brand recognition with in clusters but it has to use more highlighted identification cues to become more recognisable. Leveraging of the Brand Equity Brand equity is a term used for the value of a brand(Aaker, 2013). It can also be understood as the value which customer associates with a product. If customers associate quality with the name of a product then that product is said to have high brand equity(Aaker, 2013). Additionally, people also tend to trust a well-known brand as compared to a lesser known brand because of its equity. Dominos is an international brand of long standing(Domino's, 2016). The fact that its the second largest Pizza chain in the world gives it huge brand equity. People trust the brand. Dominos has been able to leverage its brand name to a very great extent. The firm has been able to price its product higher(Domino's, 2016). It has been able to convince the customer about quality, enjoyment and health quotient of the pizza. Therefore, Dominos due to its international status has been able to enjoy greater revenues because of its brand name. Pizza Caper is relatively a very small brand(Pizzacapers, 2016). However, it has been able to create a niche for itself. People do associate it as an alternative to major brand names. Firm has not been as successful, as Dominos to leverage its brand name as it will not be able to sell the products at a higher price. However, slowly the brand is being recognised internationally as well which is leading to more trust of customers which may help to enhance brand equity in future. Brand Touch points The points of interaction of customer with the brand are known as brand touch points(Yohn, 2013). Touch point can be customer service, website, social media or marketing communication tools like word of mouth or advertising(Kautish, 2013).These touch points are important because they help the customer in comparing their existing knowledge of the brand with their previous knowledge. Dominos has various touch points for customer interaction(Domino's, 2016). The most important is its highly supportive customer service and website for online delivery. Dominos has managed to give proper training to customer service staff so that they give impression of care, support and quality product delivery to the customer(Domino's, 2016). Additionally, the delivery process is managed to create customer convenience. The website is another touch pony where customer can select menu and order. This is manged by expert employees and IT management teams. The touch points help in supporting the brand image of quality product and timely product delivery. Pizza Capers also has website as the most important touch point(Pizzacapers, 2016). The focus of the firm is on online ordering. Therefore, the website supplies knowledge about the menu and prices. The firm manages it through expert employees trained to handle customer queries and manage IT systems. As Dominos is a bigger firm it is able to give better training to its staff therefore, it is able to handle the touch points in a better way. Website management of Dominos is better as it is more attractive and creates greater customer convenience. Customer Buying Pathways and Involvement Buyer decision making process is based on attitude, feeling and belief. If the consumer exhibits a positive attitude for a brand he may make the decision to purchase it(Keller Parameswaran, 2011). Attitude and consumer buyer pathway can be created through affective component which is governed by emotions or cognitive component where the consumer evaluates the brand rationally(Gabam, 2015). Sequence and path of purchase decision varies based on whether the attitude is motivated by emotions or by cognition(Gabam, 2015). If the attitude towards the brand is cognitive the consumer will first think about it, develop feelings and act accordingly. However, if it is emotional then they will develop feelings, act upon the feelings and then think about it. Dominos is a brand with a very long standing reputation. If it comes out with a new product, due to its brand equity the customers may take the emotional path. The may feel good about the new product, act to purchase and then think whether it was the right decision. On the other hand, Pizza Capers is a smaller brand in comparison; hence if they come out with a new product, customers may take cognitive path. They may think about it then develop feelings and then act to purchase it. Therefore, path taken for both brands may differ. Fast food and pizza offered by both brands are low involvement products as they are frequently purchases products(Gabam, 2015). However, comparatively as Dominos is a more reputed brand the involvement of the whole family in choice of flavour might be more. Conclusion Branding helps in distinguishing a company from its competitors. Dominos has long standing brand name due to which it is ahead among its competitors, However, Pizza Capers is also making a name for itself and adequate image building can enhance its brand value. References Aaker, D. A., 2012. Building Strong Brands. New York: Simon and Schuste. Aaker, D. A., 2013. Brand Equity Advertising: Advertising's Role in Building Strong Brands. sussex: Psychology Press. Brown, S., 2016. Brands and Branding. London: SAGE Publications. Dahlen, M., 2014. Marketing Communications: A Brand Narrative Approach. Melbourne: John Wiley Sons. Domino's, 2016. Home. [Online] Avail able at: https://www.dominos.com .au/[Accessed 10 Dec 2016]. Gabam, J., 2015. Brand Psychology: Consumer Perceptions, Corporate Reputations. London: Kogan Page Publishers. Kautish, P., 2013. An Analytical Study on Perspectives of Brand Awareness and Its Impact Upon Consumer Buying Behavior with a View to Facilitate Managerial Decision Making in Organization. Norderstedt: GRIN Verlag. Keller, K. L. Parameswaran, J. I., 2011. Strategic Brand Management: Building, Measuring, and Managing Brand Equity. New Delhi: Pearson Education India. OGuinn, T., 2011. Advertising and Integrated Brand Promotion. London: Cengage Learning. Pizzacapers, 2016. Home. [Online] Avail able at: https://www.pizzacapers.com. au[Accessed 10 Decemebr 2016]. Rosenbaum-Elliot, R., 2015. Strategic Brand Management. Oxford: Oxford University Press. Temporal, P., 2011. Advanced Brand Management: Managing Brands in a Changing World. New Jeresey: John Wiley Sons. Wheeler, A., 2010. Designing Brand Identity: An Essential Guide for the Whole Branding Team. New Jersey: John Wiley Sons. Yohn, D. L., 2013. What Great Brands Do: The Seven Brand-Building Principles that Separate the Best from the Rest. New Jesrsey: John Wiley Sons.

The Growth in the Use of Social Media free essay sample

The growth in the use of social media has changed the relationship between marketers and customers of brands. Some suggest that marketers have lost control over their brands, and now have to participate in a ‘‘conversation’’ about the brand (Deighton and Kornfeld, 2009). Critically discuss how social media affects consumer behaviour in the 21st century and the challenges and opportunities that social media present for the marketing of products and services. Real world examples should be used to illustrate your assessment (examples can be taken from any country and any product/service). â€Å"With over 500million users, if Facebook was a country it would be the third biggest in the world†. Social media is changing the world we live in and the way in which we communicate in it. Social media is an enhancement of regular media such as newspapers and television commercials. In terms of Web 2. 0 it is giving people information but through interaction and also allowing you to communicate back. We will write a custom essay sample on The Growth in the Use of Social Media or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Media is no longer selling a product to a customer but having a two way conversation about it, as discussed by Deighton and Kornfeld. Social media websites include; Social Bookmarking, Social News, Wikis, Social Photo and Video Sharing and the most popular being Social Networking Sites. 22% of all time spent online is spent on social media sites, and although many may see it just as a time filler, it does offers an abundance of opportunities to organizations, mainly because of its global reach. However we must remember that social media is giving consumers a voice, which could affect an organisation positively but also negatively. A Consumer research showed that â€Å"individuals give greater consideration to advice and information shared online, spending more time with websites that provide third-party evaluations† (Huang et al. 2009), therefore it is essential that organisations have good feedback on social media sites because the consequences of gaining a bad reputation online can destroy them. In this essay I aim to critically discuss how social media affects consumer behaviour in the 21st century and the challenges and opportunities that social media present for the marketing of products and services. I will be using a wide range of resources and real world examples to aid me in this discussion. â€Å"Consumer behaviour is about human responses in a commercial world: how and why people buy and use products, how they react to prices, advertising and other promotional tools† (East 1997). Understanding consumer behaviour can be of benefit in particular to marketing managers. They can try and understand consumers needs/wants and what motivates the individual to purchase a particular product, because essentially a company’s main goal is to sell its product or service and the more information they can gather about consumers the more they can tailor their products accordingly. A Brand is a consumers feeling towards a certain product service or organisation, and with the growth in social media a feeling that can be spread quickly. Marketers need to realise this and do their upmost to ensure that consumers are satisfied with the brand. Motivation is a large aspect of consumer behaviour and can be described as â€Å"the driving force within individuals that moves them to take particular action† Consumers strive for a state of equilibrium and motivation is what forces us to gain a balance between physiological needs such a hunger and social and psychological needs. Although marketing does not create needs, it is able to remind us of them at the right time. Marketing encourages us to want a brand by associating it with the satisfaction of a need. Every consumer has a different need that marketers strive to meet. Social media allows organisations to track and follow consumers to have a better understanding of these. Examples of theories behind needs and motivation include Maslow’s hierarchy of needs (see appendix 1) which identifies needs such as safety and social, The Freudian Theory of Motivation which assess the ID and Superego, and the most recent Memetics which is a theory of how humans imitate each other’s behaviour. Social media can use these to customise products and services. Marketers need to understand what people buy, why people buy, and how they buy it. They need to understand the decision making process involved and why consumers chose one product/services over another. The sequential model of marketing can help do this. The model looks at post purchase, action, attitude, learning, perception, attention and exposure. Social media can make exposure much easier as they can target specific target markets and niche groups. Exposing an organisation also has much lower costs in comparison to a TV advert which can cost up to ? Associating a brand with a celebrity is one route that organisations use; social media can take this to the next level. Very recently we saw celebrities including footballer Rio Ferdinand and boxer Amir Kahn tweeting and uploading pictures of them eating a Snickers bar. Snickers confirmed that they had paid 5 celebrities to tweet about the chocolate bar. Organisations try and change consumer’s attitudes through advertising. Due to social media and consumers ability to discuss products much easier it is increasingly difficult for organisations to do this. Social media has definitely affected consumer behaviour, but is it as dramatic as a number of researchers think? Earlier, if you were happy or unhappy with a brand, there wasnt any platform to discuss it so openly. There were limited avenues. Even for brands, connecting with consumers was never as easy as it is today, says Saloni Nangia, vice president at management consulting firm Technopak Advisors . Consumers did not have many other sources of information and would have to rely on information given to them by the company or through word of mouth (WOM). Now this task is much easier with the help of e-WOM including comparison sites, review sites such as Trip Advisor, Blogs and Social Networking sites. Consequences of this are that consumers are having a lot more control in terms of negotiation with price, customization and personalisation. Consumers have a lot more power than they once did and organisations need to be savvy in order to fulfil the customer’s needs and wants. The effect of social media has resulted in a shift in power from companies to customers. There are four power shifts which are used to describe this change; The Age of the Social Collective, The Age of Transparency, The Age of Criticism, and The Age of Parody (Fournier. 2011). These power shifts demonstrate how consumers are gaining a competitive edge over organisations but also how organisations can use this information to help overcome these challenges. The Age of the Social Collectiveness describes the way in which consumers are like a community but also how organisations will be able to brand via the consumer. A Nutella fan began a Facebook page for the company which went on to be the third most visited page in 2009. Nutella demonstrated a ‘hands off’ approach and gave control to the consumers. Skittles advanced the notion of branding via the consumer collective by having a live consumer generated feed of captions from both Twitter and Facebook. The Age of Transparency The convenience and ease of accessing information are two of the best qualities of the internet. From an organisations perspective they cannot hide anything as scandals can spread at an extremely fast rate. Transparency is a powerful anti-corruption tool, and online social media facilitates this transparency. The damage caused by information coming to head can be long and strong; Enron became the brunt of transparency when they were discovered via social media that they had been lying about their profits. The Age of Criticism – Negative feedback is of great concern to organisations in particular online due to the amount of people that are able to see it, this has allowed consumers to become increasingly more critical about brands. Blogging makes criticising easier and social networking allows the news to travel quickly. United Airlines learned this lesson when staff damaged the guitar of a little-known country singer, prompting him to produce a series of disparaging â€Å"United Breaks Guitars† music videos that promptly generated over 10 million YouTube views (Deighton amp; Kornfeld, 2010; Reynolds, 2009). Negative critique can also turn a business successful if the correct changes are done, and positive feedback can shoot organisations into success. The Age of Parody – Marketing via social media allows companies to push boundaries. Spoofing and having the ability to mock your business can be the gateway to success. Viral Marketing is another opportunity for organisations to reach consumers; Old Spice saw their sales double following their YouTube Campaign. Consumers like to relate to products and services and organisations can use this in their favour by playing with emotions such as Mastercards ‘priceless’ slogan. Organisations who decide to use parody are faced with challenges from hypercritical consumers who try to humiliate organisations and cut them away from their values; one of the biggest factors of motivation in consumer behaviour. One of Sean McDonald’s six guiding truths of social media â€Å"marketing has always been about conversations, but the mediums did not always support it. † (Texas Magazine; Spring/Summer2010, p4-4, 3/4p, 1 Color Photograph) What motivates consumers to buy a product? Motivation. Reference groups have a huge impact on what consumers purchase. In a 2009 article, The Economist reported that contemporary consumers use social media to help make purchases because they rely on â€Å"recommendations from friends† (The Economist, 2009). Ability to target specific niche markets. Viral marketing. Blogs are potentially the most attractive marketing technique with 29 percent of Internet users having blogged about a product or brand according to a report by Universal-McCann (2009). Crowd sourcing, getting information directly from consumers, getting the public to create adverts ect. digital dialogue, citizen marketing, brand democratization.

A Man, Well Into His Forties, Lies Helplessly In The Cold Room Of The

A man, well into his forties, lies helplessly in the cold room of the hospital. He eagerly waits for the results of his tests that are to be hand delivered by the warm-hearted doctor. He lies there, his skin is pasty white, his body is slowly deteriorating both inside and out, and his hair is gradually falling out. Yet somehow the man manages to fight for his life, striving to be able to go home to his wife, play football with his son, and take his dog Nasia, for a walk. In the faint distance the man can hear the footsteps of the doctor, the sound intensifying as the doctor get closer. As the physician approaches the door the man's heart thumps louder, and faster, in sync with the sound of the footsteps. Nervously the doctor opens the door, walks inside, and gives the ill man an artificial smile, the kind people give when they pose for pictures. A sound comes out, and the man hears the doctor say, "you have lung cancer, and it is terminal." His once beating heart sinks to the floor, and all hope flies out of the window into the realm of death. The man, pondering the long road of agony ahead, says to the doctor, "I do not wish to suffer the effects of the cancer, I want to die." He continues by asking the question every doctor fears to answer, "Can you give me something to end my life?" This process is known as euthanasia. The word stems from Greek origin meaning "good death." In general, euthanasia is the process of a physician killing a human being who suffers from a painfully terminal disease to bring them peace. The topic has become quite controversial throughout the United States as well as the rest of the world. Advocates feel that each and every person has the right to be able to choose how they live, and how they die. They claim that everyone should have the privilege of controlling their own destiny. Opponents of mercy killing argue that the act is immoral and would have a negative effect on the social and moral standings of society. They believe that life and death should only be in the hands of God. There are two types of euthanasia, passive and active. Passive euthanasia is taking away or withholding treatment even if the person is going to die. Active euthanasia is assisting the patient who suffers from the terminal illness to die by giving them drugs or injections. While many argue that only the passive type of euthanasia is acceptable, others argue that morally, there is not a difference between the two, and that neither of them should be conducted. Activists of euthanasia claim that it would be killing in the name of compassion. They argue that any passionate and humane character would not want to see their loved one suffer especially when there is no hope for recovery. Supporters of this technique believe that they are actually helping the sickly individual by easing their discomforts and releasing them of their pains and letting them go on to a "better place," free of harm, and illnesses. Adversaries of euthanasia state that it is merely degrading the human life. They support God's sovereignty of human life, contesting that it is too sacred and too valuable to be taken away by anyone other than God. Enemies of euthanasia have many questions that are left unanswered. For instance, if euthanasia was to become legalized, where do we stop or start? How advanced must the illness be? Are the doctors 100 percent right about the diagnosis? Which illnesses are "treatable" by euthanasia? Are handicaps to be included? Where do we draw the line and who is to make the final decision? Are those in pain even getting the right medicine, the right dosage? Has every treatment option been explored, should they be? These questions cannot be fully answered for every situation that occurs, which leaves many people unsure about the idea of euthanasia and its morality. Supporters on the other hand would state that these questions do not have to be answered by any professional, but by the patients themselves. If they are uncomfortable, depressed, and

Job Likes and Dislikes Listening Comprehension Quiz

Job Likes and Dislikes Listening Comprehension Quiz In this  listening comprehension  you will hear a man speaking about what he likes and dislikes about his job. Listen to what he says and decide whether the following statements are true or false. You will hear the listening twice. Try to listen without reading the listening transcript. After you have finished, check your answers below the  to see if you have answered the questions correctly. Job Likes and Dislikes Quiz The first thing he does is go to the common room.He cleans the rooms when they are empty.He always helps out in the canteen.He usually washes the stairs.He finishes in the afternoon.He likes the routine nature of his job.He feels that it is degrading picking up cigarette butts.He is a millionaire.He likes the flexibility of his job.He enjoys the company of the students.He learns a lot on his job about other cultures.What is the name of his job? Listening Transcript Well, I come into work at eight oclock, and the first thing I do is collect my keys. Then I go to the common room. I sweep up and I do the floors, and I also check the toilets. And when there are no students in the classrooms, I empty the waste bins, and clean the rooms. And I also help in the canteen when the girl is ill to do the teas and coffees. And I usually sweep the stairs and then give them a good wash over. I usually finish at about two oclock.   What I particularly hate about my job is having to be at work for a specific time and leave off at a certain time and have to follow a certain pattern all the time. And another thing I hate doing is picking up cigarette ends and dirty tissues. Its really degrading picking things up that have been in peoples mouths. God, if I were paid for every cigarette end and tissue Id picked up, Id be a millionaire.   What I really like about my job is that I can work on my own, and I can decide when I do something. If I dont feel like doing it today, I can do it tomorrow. I also find the students extremely friendly. They will come and talk to you in their breaks or their free time. They tell you all about their country, customs, habits, etc. and its ever so interesting. I really enjoy it. Job Likes and Dislikes Quiz Answers False - He gets his keys.TrueFalse - Only when the girl is ill.  True - He cleans and washes the stairs.True - He finishes at two oclock.False - He doesnt like being at work and leaving at a certain time.True - He really hates it.False - He would be if he were paid for every cigarette end and tissues he has cleaned up!True - He can choose when he does the various tasks.True - They are really friendly.True - They tell him about their native countries.Janitor, Sanitary engineer

Marketing research about people motivation and behavior toward TOMS Paper

Marketing about people motivation and behavior toward TOMS shoes - Research Paper Example Hoboken, N.J: Wiley. 13 Mycoskie, B. (2012). Start something that matters. London: Virgin. 13 Russo, M. V. (2010). Companies on a mission: Entrepreneurial strategies for growing sustainably, responsibly, and profitably. Stanford, Calif: Stanford Business Books. 13 Tables 14 8. Figures 19 9. Appendix 24 1. Abstract People motivation and behavior are essential towards products. This marketing research paper attempts to analyze people behavior and motivation towards TOMS shoes. The main concentration of the study is about women perspectives towards TOMS shoes. This is a research that entails secondary and primary data collection methodologies. Where secondary data consists of literature review and primary data concerns survey and questionnaire findings. To analyze the attitude of women towards TOMS shoes, TOMS shoes marketing strategies is a factor that must be assessed (Russo, 2010). There is a stiff competition within shoe industry and motivation factors each corporation undertakes ei ther draw positive or negative perception from consumers. Customers who have an optimistic attitude about a superstar that promotes TOMS may in turn have an optimistic perception about TOMS, which will boost their motivation and actual behavior of buying their products. 2. Introduction TOMS is a brand that many people have supported due to their cause marketing strategies. ... In accordance to their website, TOMS has provided ten million pairs of shoes across over 60 nations (Russo, 2010). A motivational effect behind the TOMS product is their exhibition of corporate responsibility via their desire to assist others in need. Customer behavior can be impacted by issues such as motivation, perception and learning. Those factors are recognized as internal issues or personal issues. In addition, issues such as social norms, family responsibilities and cultural values constitute external or social factors. Those factor, in particular the external ones, can be impacted by the environment and trends. Just as domestic and exterior factors can be applied to endorse social transformation in the case of TOMS Shoes, they can be uniformly as successful in marketing strategies designed to prevent consumers from involving in some behaviors (Cakim, 2010). Researchers have been investigating customers’ behavior and motivation towards various products in various marke ts. Women motivation and behavior towards TOMS shoes is a research topic that has been reviewed by other researchers. The general outcome in the existing literature suggests that motivation and behavior of customer are influenced by the marketing (Russo, 2010). TOMS cause marketing strategy can be cited as the reason women are motivated towards TOMS shoes (Mycoskie, 2012). This marketing research seeks to study women motivation and behavior towards TOMS shoes. Women are great spenders on shoes and like to identify with great brands. This why it is necessary to understand their motivation and behavior factors in towards TOMS shoes. Women are extensively knowledgeable about shoes from different brands. This paper starts with literature

MGT3150 MANAGERIAL LEADERSHIP Essay Example | Topics and Well Written Essays - 1500 words

MGT3150 MANAGERIAL LEADERSHIP - Essay Example Furthermore, the study seeks to identify actual implementations of the said ethical policies to personnel of all levels. The methodology used was primary research through Lufthansa's official website, www.lufthansa-financials.com, as well as news articles involving the company. Secondary research on business ethics practices online and in school libraries were also conducted. During the course of the research, several limitations were encountered: direct interview with company officials and employees due to inaccessibility. Deutsche Lufthansa AG is a globally operating aviation group with around 400 companies and subsidiaries. It is active in five (until the end of 2006, six) business segments. Passenger Transportation is the Group's core business activity. Logistics, MRO, IT Services, Catering and Leisure Travel are further segments of the group. The Leisure Travel segment is due for disposal according to the supervisory board decision on 7 March 2007 and after approval of the competition commission.Annual average Group employee numbers were 93,541. The Group generated around EUR 19.8bn in revenue ("Portrait")." Lufthansa is a publicly traded company. As such, it is under the scrutiny of the German government. "It operates with the customary two-tier management system in Germany comprising an Executive and a Supervisory Board. The Executive Board is independently responsible for company management. The Supervisory Board appoints, supervises and advises the Executive Board ("Corporate Governance at Lufthansa")." This two-pronged approach checks and balances senior and junior managers. It encourages transparency in the workplace; effecting self-regulation by decentralizing power that could lead to collusions and unethical practices. Staff & Welfare In its quest to offer competitive remuneration, permanent jobs and attractive working conditions, the company has implemented a wide range of career-development measures such as trainings and an integrated study/work courses. "Each year Lufthansa invests around 300m in training measures for their employees. The Lufthansa Group offers over 40 different vocational courses with a technical, commercial or information technology focus. Another growing field is eLearning. Last year around 450 different learning programmes with a total of 1,762 teaching hours were in use at Lufthansa ("Employees")." Lufthansa employs people from all over the world, seeing opportunities in diversity. It provides in-house medical service for staff in handling health and safety issues. Governance Code International standards on Corporate Governance have been developed in recent years with primary focus on protecting the interests of the shareholders. The Corporate Governance Code was developed by the German Commission in February 2002 "to make the Corporate Governance System transparent and comprehensible. The code recommends clear and transparent presentation of a company and its business development, establishment of structures and processes which lead to proper and responsible management, administration and supervision. Such increases the trust of the investors and other providers of capital ("In General")." Since 2002 up to present, Lufthansa has been complying with the code in full, amending the Articles of Association to reflect relevant regulations. The

Inkwell Accounting Department Essay Example for Free

Inkwell Accounting Department Essay The Accounting Department 1. Inkwell has a small finance team. The accounting department is based in the head office of the company, which is located in Birmingham. There are 8 people in the finance team. Each member of the team has their own computer. The team has access to the internet using Firefox and two printers integrated to each computer. 2. Inkwell has one Financial Director, Anil Gupta. Anil’s main job is to manage the overall financial position of the business, ensuring capital investments and corporate strategy is properly dealt with. He has delegated the running of the accounts department to the company accountant. 3. Inkwell has one company accountant, Michael O’Payne who has been in charge of most financial affairs before Anil Gupta joined the company. The others in the financial team report to him. 4. The team consists of one accounts technician, one General Ledger and Inventory Clerk, one Accounts Payable Clerk, one Accounts Receivable Clerk, one Costing Technician and one Payroll and Personnel Database clerk. 5. The accounting department keep a close relationship with the shop staff. The main mode of communication is through email and phone calls, occasionally a member from the team will pay them an unexpected visit. The Accounting Department- Key Internal Stakeholders 1. Anil Gupta, Financial Director, has the overall responsibility for all finance, legal and accounting procedures and systems. He produces annual reports and statutory accounts. Alongside this he deals with financial issues such as banking and also legal issues, such as contacts. Anil has 30% of the company’s shares when joined the directors in 2008. 2. Michael O’Payne, the Company Accountant, has been in the company since the set up of the company. His main duties include running the day to day responsibility of the accounts department. He also produces monthly management accounts and approves payments to suppliers. After observing the company there is a low level of tension between him and Anil. However, Michael still needs to report to Anil, if he likes it or not. 3. Alex Fox, accounting technician, has the responsibility of making sure the accounting system is reviewed and recommend changes, along with other project work. She has to report to both Anil and Michael, however works more closely to Michael. 4. Michelle Labelle, General Ledger and Inventory Clerk, has the duties of maintaining the company’s cash book and keeping control on the company’s inventory. This requires Michelle to keep in close communication with the store managers. She too reports to Michael. 5. Liana Khan, Accounts payable Clerk, has the responsibility of entering all the suppliers’ invoices and credit notes on to the accounting system. She also has to ensure payments are arranged to suppliers. Liana also reports to Michael, her Father in Law. 6. Greg Morris, Accounts Receivable Clerk, has the duties of inputting all data received by customers, as well as credit control duties. These duties include sending out monthly statements to customer, working out discounts and chasing customers who have not paid in the time given. 7. Alan Cook, Costing Technician, has the responsibility of operating the costing system. This means Alan has to work closely with the Sales director in order to reach market prices. Alan uses Quickcost software to do his work and has been doing it for since the company started. He also monitors the cost and profitability of each cartridge on a monthly bases and advises management about variance targets. 8. Sharon Ward, Payroll and Personnel Clerk is responsible for the running of the payroll, both Weekly and monthly and also to make sure the personnel database is always up to date. Sharon uses Sage Payroll systems to process all her statutory forms.