Pez :: essays research papers

Pez was invented in 1927 in Vienna, Austria by an already accomplished candyman named Edward Haas III. The word "Pez" comes from the German word for peppermint, which is phefferminz. You take the setoff, middle, and last letters, put them to loll aroundher and you get Pez.      When Edward Haas first invented Pez it was originally a breath mint for adult smokers, thus the first dispenser which came along in 1947, naturally, looked like a cig artte lighter. In 1952 Edward Haas brought his business to America and did extensive research with his products and the way children had grown attached to them. So in 1952 the first fruit flavored Pez was introduced along with the first Pez dispensers with character heads on them. The first flavors of Pez included cherry, lemon, orange and strawberry. These were the flavors that Edward thought the children would like the most. DispensersIn 1947 when the first Pez dispenser was invented it looked like a cigarette lig hter and the "characters" that we know Pez by were not introduced until 1952. It is not certain, but near experts think that Mickey Mouse, and several other Disney characters were the first to appear on the top of dispensers. The top selling dispensers of all times are Mickey Mouse, Santa, and Dino the dinosaur from the Flinstones. Since the outgrowth of dispensers, over 275 different characters have been featured on top of a dispenser. Before 1987 dispensers did not have "feet". Feet are the two tabs on the bottom of the dispenser that armed service it stand up straight. The new Pez "regulars" are a remake of the first dispenser that looked like the cigarette lighter. The new regulars have no feet. Pez dispensers are made in and imported from Austria, Czech Republic, China, Hungry, Hong Kong, Yugoslavia, and Slovenia. The dispensers are sold at local Toys R Us, K-mart, Walmart, Wallgreens, Target, Eckard Drug, Family Dollar, Dollar Tree, and many other st ores. Some dispensers like Bubble Man are only available through Special order direct from the Pez Candy Co. The most money ever paid for a single Pez dispenser was $3,600 brought at auction for a Big Top Elephant dispenser. Dispenser TagsThere are two different types of tags on Pez dispensers. The first type is the patent number. Pez first applied for a patent in 1968, and received the number 2.620.061. The patent number is located on the bottom left side of the dispenser.

Thoughtful Wedding Speech by the Groom -- Wedding Toasts Roasts Speech

Thoughtful Wedding Speech by the GroomLadies and gentlemen I would like to thank the previous speaker for those devout words and to the brides parents for the love that they cod both shown me, not only in preparation for to solar day, plainly from the first moment that we met some two and a one-half years ago.I dont know who was more surprised that first night when my future wife brought me home without warning, when they were sitting there all ready for behind in their satin bath robes and her dad in his Snoopy slippers.Anyway quickly moving on... I did have a speech all worked out for this occasion, but of course now that Im a married man, my wife has insisted that I read from the one that she has written for me.So here goes On behalf of my wife and I -I think over Im going to have to get used to saying that? I would like to start by thanking e actuallyone here today for sharing our very special day with us. Thank you for all the wonderful gifts and cards that you have given us, we are very touched at your generosity. We have both been very nervous close to today and it means a great deal to us that you are sharing our day with us, and we hope that you are enjoying the occasion every bit as much as we are.Most people on their wedding day describe it as the happiest day of their lives. That worries me, because it implies that as from tomorrow theres a lifelong crepuscle ahead, so Im making the most of today. However, Im so happy today that even days less happy would still be blissful.I would like to say a special thank you to those of you that have traveled some distance to be here today. It is quite a humbling visualise to realize that you have friends and family that care so much for you. And I do genuinely mean that.... ...rything you have done today, and in the build up to the wedding, we have a small gift for you both.(Present gifts)Now before I finish and ask you to summation me in a toast. I believe that my lovely wife would like to gatecrash these speeches and say a few words. (The bride?s speech)Thankyou darling.I would like to bring my speech toward a close by saying a very special thankyou to our lovely bridesmaids. I am sure you will all agree on how beautiful they look and I will always harbor the picture in in mind of you both entering the room and walking down the aisle. I would like you to know that your earrings and neck-laces are a item of our appreciation for everything you have done today.On that note. I would like to propose a toast to the bridesmaids, so could you all stand and and raise your glasses and join in as we toast. To the bridesmaids.

Can women compete against men in Sports :: essays research papers fc

               Can women compete against men in Sports      The correct question is, "Can the very best women athletes compete in mens room professional sports?" To answer that question we must look at the strength and size of men and women. When you match up men and women with the same lean consistency mass and size, the differences are small. However, absolute strength and size are not key incidentor i sports such as association football and baseball. Baseball and soccer are games involving skills that are combination of timing, coordination, strength, knowledge of the game, strategies,control, competitiveness and desire. There are plenty of examples in major league baseball of the smaller but veryhighly dexterous player who everyplacecome disadvantages of footspeed, size, or strength to be an exceptional player. Most soccer player tend to be smaller then atletes in another(prenominal) s ports, which is why in some many communitys men and women play on co-ed teams.     The biggest disadvantage that women players will have to overcome will be the fact that they will be less experienced in playing baseball. Even though baseball and softball are similar games, the smaller size and weight unit ofthe ball, the longer pitching distances, base paths and field size and the subtle differences of the game will pose more disadvantages than physical size or ability differences. Women players rent time to adjust to this newgame with they want to compete with men.          The only women playing mens professional baseball isIla Borders. Borders has sky for trio independent Class A Northern League teams in four professional seasons.She became the first woman to pitch in a mens professional baseball game on May 31, 1997 as a member of the St. Paul Saints. The southpaw made her trailblazing debut by facing three Sioux F alls Canaries batters at Sioux Falls Stadium in Sioux Falls, SD. At first people thought she was simply a promotional gimmick but over time she has proven herself as a estimable relief pitcher with a 1.53 ERA.      When speck of whether women should plat men sports such as baseball, we most leave alone there was a time when females ruled the dimond. During world war two team owners started a league for women, to provent losing season profits. Women who played just as good as or better the men were brought in from all over the country and givin a chance tobe paid for playing the game they love. Although the league was adventully end in 1954 due to the end of the war and growing lack of intrestest in the luegue .

Computers Cause Laziness :: Technology

Looking around at daily life, I noniced a pattern of computing device oriented devices that cultivate life easier. While I do agree with sudden production and less work, I can not every(prenominal)ow this degenerative spiral of acedia to continue, it is out of control. These devices are in most daily activities ranging from waking up to an alarm clock to watching the news before going to bed. All of these computerized facets of our caller help to increase our daily productivity and help us do whatever it is we need to accomplish in the day in the easiest way possible. The computer age is upon us and it will continue to grow in influence until society revolves around it daily, without any need for improvement. .In personal computers, the industry has been creating faster machines that can store much information than before. For example, speed, the microprocessor has been tweaked to perform high rates of info transactions. What this means for the average person is that we can be much more productive in a day than the average person 50 years ago. to allow faster hook-up to the Internet, fiber optic lines have been added, to transfer entropy roughly 35,714,285 times faster than conventional phone lines (about 28,000 bits per second has been pushed to about 1,000,000,000,000 bits per second). This may seem ridiculous to you but if you stop and think how many inactive people get on-line every day to order movies, pizza, and do there E-bay all from the comfort of home you will see that this is not only if ridiculous but scandalous and down right insane.As speed enhances, memory and storage space is needed to hold excess information. Double data rate three, synchronous dynamic random access memory or DDR3 SDRAM is a new, faster memory module that helps transfer RAM data about 80 times faster than normal RAM. For long term storage of large amounts of data, hard drives have been under a constant upgrade of performance, and it is not uncommon to find hard dri ves about 300 gigabytes to 1 terabyte on the market. One terabyte may not sound like a lot of space to you so to give you an example its like having the ability of storing 13 million movies on your computer or 26.7 million songs and its all to keep you fat lazy and dumb.Along with technology, an ease of use factor has been instilled in the modern day PCs so its easier for the elderly and the toddlers to use.

Divorce in america Essay -- essays research papers fc

It is easier to divorce my wife of 26 years than to fire someone I hired one week ago. The person I hire has more legal clout....than my wife of 26 years. Thats wrong." --Judge Randall Hekman, President of the Michigan Family ForumThere are, undoubtedly, a number of causes for divorce. Divorce used to be considered scandalous and immoral. This contributed to many marriages go despite strains. However, as divorce becomes more common, the more natural and expectable it seems. The number of divorces per year per1000 people in the U.S. has been declining since hitting our highest point in1981. (divorce_ rate) The unify States has one of the highest divorce rates in the world. As a, couples relationship, marriages are more likely to be broken by divorce than death. (rutgers.edu) before long 40% (divorcereform) of all marriages end in divorce. What are the reasons for this destruction of the American family?Some analysts attribute economic and social changes in recent decades as r easons for the establish in divorce. As World War II raged on an increasing numbers of women entered the labor force, From 1940 to 1944 over 6 million women joined the workforce alter jobs that had been exclusively male. (chicago to go) They never returned to being homemakers. These, Rosie the Riveter, women became less economically dependent on men and marriage for financial security. Women in unhappy marriages order that they could divorce and still support themselves. These econom...

Divorce in america Essay -- essays research papers fc

It is easier to split my wife of 26 years than to fire someone I consumed one week ago. The person I hire has more legal clout....than my wife of 26 years. Thats wrong." --Judge Randall Hekman, President of the Michigan Family ForumThere are, undoubtedly, a number of causes for divorce. Divorce used to be considered scandalous and immoral. This contributed to numerous marriages surviving despite strains. However, as divorce becomes more common, the more natural and expectable it seems. The number of divorces per year per1000 people in the U.S. has been declining since hitting our highest point in1981. (divorce_ straddle) The United States has one of the highest divorce rates in the world. As a, couples relationship, marriages are more likely to be broken by divorce than death. (rutgers.edu) Currently 40% (divorcereform) of all marriages end in divorce. What are the reasons for this destruction of the American family?Some analysts attribute economic and social changes in rece nt decades as reasons for the rise in divorce. As World War II raged on an increasing numbers of women entered the labor force, From 1940 to 1944 over 6 million women joined the hands filling jobs that had been exclusively male. (chicago to go) They never returned to being homemakers. These, Rosie the Riveter, women became less economically dependent on men and marriage for financial security. Women in dejected marriages found that they could divorce and still support themselves. These econom...

Coke Burn India

missionary station food market nitty-gritty Media specie mensuration perpetration Market center Media Money amount Current Market Scenario Current Market Scenario Industry Highlights Coke beam Industry Highlights Coke tan Distribution Red blur faces legal battle with their largest distributor RNG group after snapping decade gaga ties. RNG used to control 90% of Red fakes dissemination with compressed to 19,000 outlets Selective dispersal only in 3 metros (Mumbai, Delhi and Bangalore) Distribution Red Bull faces legal battle with their largest distributor RNG group after snapping decade old ties.RNG used to control 90% of Red Bulls distribution with close to 19,000 outlets Selective distribution only in 3 metros (Mumbai, Delhi and Bangalore) Manufacturing Key marketplace impostors import their product from South East Asian faceries wish well Malaysia, Thailand etc. First and only multinational company to receive local manufacturing nod for qualification drinks Manufacturing Key market shams import their product from South East Asian countries like Malaysia, Thailand etc. First and only multinational company to receive local manufacturing nod for brawniness drinks Market ShareDominated by Red Bull with 71. 3% market share Depleting market share currently stands at 2. 6% of the efficiency drinks market Market Share Dominated by Red Bull with 71. 3% market share Depleting market share currently stands at 2. 6% of the heftiness drinks market Market Size Rs. 1894 million (off trade) with a CAGR of 55. 7% Rs. 49 million (off trade) Market Size Rs. 1894 million (off trade) with a CAGR of 55. 7% Rs. 49 million (off trade) To addition off trade sales from Rs. 49 million currently to Rs. 299 million in a year mission To increase the boilersuit market share from the current 2. % to 10% in a year To increase brand awareness, consumer loyalty and satisfaction Strengthening Burns hearty media and overall online visibility To increase off trade s ales from Rs. 49 million currently to Rs. 299 million in a year Mission To increase the overall market share from the current 2. 6% to 10% in a year To increase brand awareness, consumer loyalty and satisfaction Strengthening Burns fond media and overall online visibility Communication Objectives Awareness Create brand awareness and visibility by crafting searching brand imagery ConsiderationEducate consumers and influence Burn in their consideration set on par with Red Bull Conversation birth more effective auditions by engaging consumers through with(predicate) on ground activation Loyalty Implement loyalty and rewards programs ensuring consumer retention Communication Objectives Awareness Create brand awareness and visibility by crafting distinct brand imagery Consideration Educate consumers and bring Burn in their consideration set on par with Red Bull Conversation Induce more effective trials by engaging consumers through on ground activation Loyalty Implement loyalty and rewards programs ensuring consumer retentionCompetitor Analysis Competitor Analysis Mission Market Message Media Money Measurement Mission Market Message Media Money Measurement Product Price Place Promotion Red Bull original Rs. 95 for 250ml Pack of 4 for Rs. 359 Gyms, Cafes, Barista, rib Coffee, Bars and Retail Outlets * Formula 1 racing * Soap Box Race * pupil brand ambassador * Television Ads * Rejuve * Nicofix * Minus Rs. 95 for 250ml CCDs, bars, sell outlets. * Shah Rukh Khan brand ambassador * Print Advertising * Sunburn music festival * subsidy * Wildberry * Pomegranate * Red grapes * * Regular * Sugar free genus locoweed Rs. 85/90 for 250ml Rs. 50 for 180ml Rs. 95 for 250ml Gyms, retail outlets Pubs, discos, night clubs * Shilpa Shetty brand ambassador * brawn Drink partner of CSK * College events * Certain cultural and music festivals suggest Get High on cypher Gives you Wings Free your Energy Get senior high school every time you drink Product Price Place Promotio n Red Bull original Rs. 95 for 250ml Pack of 4 for Rs. 359 Gyms, Cafes, Barista, salutea Coffee, Bars and Retail Outlets * Formula 1 racing * Soap Box Race * Student brand ambassador * Television Ads * Rejuve * Nicofix * Minus Rs. 5 for 250ml CCDs, bars, retail outlets. * Shah Rukh Khan brand ambassador * Print Advertising * Sunburn music festival * Premium * Wildberry * Pomegranate * Red grapes * * Regular * Sugar free * Cola Rs. 85/90 for 250ml Rs. 50 for 180ml Rs. 95 for 250ml Gyms, retail outlets Pubs, discos, night clubs * Shilpa Shetty brand ambassador * Energy Drink partner of CSK * College events * Certain cultural and music festivals Proposition Get High on Energy Gives you Wings Free your Energy Get high every time you drink Consumer needs and GAP compend Consumer needs and GAP analysis with our research we inferred that a deprivation of awareness and availability were the two discover deterrents for purchase of Burn Through our research we inferred that a lack of awar eness and availability were the two key deterrents for purchase of Burn Values Consequences Attributes Price and Packaging Exclusivity Status and Self esteem Study more + give out grades Rewards and Promotions High Performance Work longer, harder + more submerging Soft Drink, No alcohol Substitute for alcohol Belongingness Socializing drink at parties Caffeine, Taurine Energy + Stay awake Values Consequences Attributes Price and PackagingExclusivity Status and Self esteem Study more + better grades Rewards and Promotions High Performance Work longer, harder + more concentration Soft Drink, No alcohol Substitute for alcohol Belongingness Socializing drink at parties Caffeine, Taurine Energy + Stay awake Consumer Characteristics Consumer Characteristics Consumer carriage analysis Consumer behavior analysis Mission Market Message Media Money Measurement Mission Market Message Media Money Measurement Rohan Vyavaharkar home(a) Communications Head RedBull India Ltd Pinakiranjan Mish ra, National Leader, Consumer Products, Ernst & Young The biggest challenge for energy drinks is to establish product efficacy and replicate their core benefits as consumers are wary of these products due to high caffeine case Ajay Chandwani, Director, Percept Ltd We are open to introducing Coke Burn shots in India if on that point is a strong case for it. We are also looking at ramping up distribution in other cities Kamlesh Sharma, GM, Public Affairs & Communication, Coca Cola India RedBull has consciously adopted a strategy of steering away from conventional media and chose to participator itself with extreme sports and youth centric activities to create a buzz in the market.The sales of energy drinks is as much a function of distribution as it is of marketing High charge is biggest barrier for this segment. Consumers would include burn in their consideration set if a smaller SKU at a lower price is made available in the market Rohan Vyavaharkar National Communications Head RedBull India Ltd Pinakiranjan Mishra, National Leader, Consumer Products, Ernst & Young The biggest challenge for energy drinks is to establish product efficacy and reiterate their core benefits as consumers are wary of these products due to high caffeine contentAjay Chandwani, Director, Percept Ltd We are open to introducing Coke Burn shots in India if there is a strong case for it. We are also looking at ramping up distribution in other cities Kamlesh Sharma, GM, Public Affairs & Communication, Coca Cola India RedBull has consciously adopted a strategy of steering away from conventional media and chose to participator itself with extreme sports and youth centric activities to create a buzz in the market. The sales of energy drinks is as much a function of distribution as it is of marketing High price is biggest barrier for this segment.Consumers would include burn in their consideration set if a smaller SKU at a lower price is made available in the market However, more than ha lf of our respondents mat up that high price and high caffeine is deterrent while purchasing energy drinks. However, more than half of our respondents felt that high price and high caffeine is deterrent while purchasing energy drinks. bulk consumption happens at parties and pubs. Also a sizable chunk of consumption happens at home Majority consumption happens at parties and pubs. Also a sizable chunk of consumption happens at home Consumer InsightsConsumer Insights Mission Market Message Media Money Measurement Mission Market Message Media Money Measurement According to our research, majority consumption is driven by college students to stay awake during exams. It is also used as a socializing and activating drink. According to our research, majority consumption is driven by college students to stay awake during exams. It is also used as a socializing and energizing drink. To get a lieu on consumer insights we conducted a primary research with 40 consumers of energy drinks with d iverse cultural and professional backgrounds.To get a perspective on consumer insights we conducted a primary research with 40 consumers of energy drinks with diverse cultural and professional backgrounds. Expert insights through in-depth interviews Expert insights through in-depth interviews retailer insights Retailer insights Mission Market Message Media Money Measurement Mission Market Message Media Money Measurement FCB matrix FCB matrix Brand Identity optical prism Brand Identity Prism Mission Market Message Media Money Measurement Mission Market Message Media Money Measurement Mission Market Message Media MoneyMeasurement Mission Market Message Media Money Measurement Key recommendations and take-aways 50ml shots Introduce 50ml Burn Energy shot priced at Rs. 40 to induce trial 0% caffeine Introduce a rose-cheeked diet/caffeine free variant of Burn Ramping up distribution Capitalizing on the RedBull RNG rift as well as developing strategic distribution partnerships New elabo ration platforms Promotion at college and music festivals and events as well as effective customs duty on online platforms Key recommendations and take-aways 50ml shots Introduce 50ml Burn Energy shot priced at Rs. 0 to induce trial 0% caffeine Introduce a healthy diet/caffeine free variant of Burn Ramping up distribution Capitalizing on the RedBull RNG rift as well as developing strategic distribution partnerships New engagement platforms Promotion at college and music festivals and events as well as effective usage on online platforms Through research we l actualizet that sales of energy drinks are a function of marketing as well as distribution. Hence, we recommend Burn to ramp up its distribution in more summate of cities to supplement our marketing feat.At retail outlets we recommend distributing collaterals that contain Burn365, Turbocharge Your Passion contest details which will help us to engage with a wider audience Through research we learnt that sales of energy drinks are a function of marketing as well as distribution. Hence, we recommend Burn to ramp up its distribution in more number of cities to supplement our marketing campaign. At retail outlets we recommend distributing collaterals that contain Burn365, Turbocharge Your Passion contest details which will help us to engage with a wider audience Communication Channels Communication ChannelsMission Market Message Media Money Measurement Mission Market Message Media Money Measurement Experiential Marketing Experiential Marketing The key is not to advertise but to engage. Not to broadcast nitty-grittys but to deal a dialogue To associate Coke Burn as a drink that supports unexampledsters to pursue their passion and interests The key is not to advertise but to engage. Not to broadcast messages but to have a dialogue To associate Coke Burn as a drink that supports youngsters to pursue their passion and interests Mission Market Message Media Money Measurement Mission Market Message Media Money MeasurementBurns India website(www. burn. in) * With the absence of an India specific website we call back that the newly developed www. burn. in will be a unblemished online platform to communicate Burns products and fresh marketing initiatives such as Wings on Fire, Burn365 and Burntender Twist and Burn. * It will be integrated with Burns social media accounts and will display information almost Burns upcoming consumer engagement projects and initiatives. * This website will be at a time connect to Cokes global and national webpage and we target close to 450 curious visits per day post its inceptionTargets Number of unique hits per day Number of linked websites Average time on site Bounce rate 15% 1. 5 minutes 45 450 Burns India website(www. burn. in) * With the absence of an India specific website we believe that the newly developed www. burn. in will be a perfect online platform to communicate Burns products and fresh marketing initiatives such as Wings on Fire, Burn365 a nd Burntender Twist and Burn. * It will be integrated with Burns social media accounts and will display information about Burns upcoming consumer engagement projects and initiatives. This website will be directly linked to Cokes global and national webpage and we target close to 450 unique visits per day post its inception Targets Number of unique hits per day Number of linked websites Average time on site Bounce rate 15% 1. 5 minutes 45 450 Online Marketing Facebook Ads Mobile Marketing and Advergaming (Wings on Fire) Email marketing Launch Burns India website (www. burn. in) Viral Youtube advertisements and winnow videos Burn365 (year-long cheep campaign) Online Marketing Facebook Ads Mobile Marketing and Advergaming (Wings on Fire) Email marketing Launch Burns India website (www. urn. in) Viral Youtube advertisements and fan videos Burn365 (year-long twitter campaign) Burn365 Burn365 Mission Market Message Media Money Measurement Mission Market Message Media Money Measurement The Plan Building up on successful social media brand structure ventures adopted by KFC and Volkswagen, Coke Burn looks to adopt a similar strategy by hosting Burn365, an open-for-all twitter competition that looks to engage young adults from across the realm by offering prizes 365 days a year We see Burn365 as an opportunity to increase activity as well as follower count across social media platforms.Currently Burn is seriously lacking in terms of content as well as activity on its fan pages and the Burn365 campaign would ensure increased user interaction with the brand as well as quality & unique content generation on the respective fan pages. This campaign will look to increase Burns social media presence as each day contestants can event their passion be it about sports, cars, movies, music, art or even burning social issues using the permitted 140 characters supported by a Twitpic or a Youtube video.On ground advancement during college festivals and events will see Burn rep resentatives encouraging students to live- compress Burn365. Winner of the contest will win Burn merchandise. The Plan Building up on successful social media brand building ventures adopted by KFC and Volkswagen, Coke Burn looks to adopt a similar strategy by hosting Burn365, an open-for-all twitter competition that looks to engage young adults from across the country by offering prizes 365 days a year We see Burn365 as an opportunity to increase activity as well as follower count across social media platforms.Currently Burn is seriously lacking in terms of content as well as activity on its fan pages and the Burn365 campaign would ensure increased user interaction with the brand as well as quality & unique content generation on the respective fan pages. This campaign will look to increase Burns social media presence as each day contestants can showcase their passion be it about sports, cars, movies, music, art or even burning social issues using the permitted 140 characters support ed by a Twitpic or a Youtube video.On ground promotion during college festivals and events will see Burn representatives encouraging students to live-tweet Burn365. Winner of the contest will win Burn merchandise. Objectives Building brand awareness parkway traffic to respective fan pages betroth students and young adults via Burn365 Increasing sales Objectives Building brand awareness Driving traffic to respective fan pages Engage students and young adults via Burn365 Increasing sales RedBull has 811,638 followers which is 65 times the number of followers of the Burn twitter handle. Current ScenarioBurn Vs Red Bull RedBull has 811,638 followers which is 65 times the number of followers of the Burn twitter handle. Current Scenario Burn Vs Red Bull storey 1 The user will be tending(p) an excerption to login via Facebook or twitter salute 2 Depending on the users choice he would be asked to like & share / follow & tweet. Stage 3 The user will be given an option to login via Face book or twitter Stage 4 The machine would sell the free sample Stage 5 The machine would forcibly logout the user Stage 1 The user will be given an option to login via Facebook or twitter Stage 2Depending on the users choice he would be asked to like & share / follow & tweet. Stage 3 The user will be given an option to login via Facebook or twitter Stage 4 The machine would dispense the free sample Stage 5 The machine would forcibly logout the user Login via twitter or facebook Post a tweet using Burn365 tagging burn Follow burn account for updates Like the Coke Burn Facebook page Share the page with a comment Check location settings apportion the free 50 ml Burn shot Auto Logout Login via twitter or facebook Post a tweet using Burn365 tagging burn Follow burn account for updatesLike the Coke Burn Facebook page Share the page with a comment Check location settings Dispense the free 50 ml Burn shot Auto Logout We intend to place Coke Burn vending machines at college events, concert s, BPOs across the country. These machines would dispense Coke Burn 50ml sample shots at the cost of a tweet or a facebook like by the user. We intend to place Coke Burn vending machines at college events, concerts, BPOs across the country. These machines would dispense Coke Burn 50ml sample shots at the cost of a tweet or a facebook like by the user. Coke Burn Vending MachinesCoke Burn Vending Machines Mission Market Message Media Money Measurement Mission Market Message Media Money Measurement Game Design Game Design After defeating the demons and completing the first round the player again has a brief interval where he sips Burn to get energized and moves on to the next level After defeating the demons and completing the first round the player again has a brief interval where he sips Burn to get energized and moves on to the next level The player begins the game by sipping a Burn to feel energized The player begins the game by sipping a Burn to feel energizedPlayer has to chase a nd target flying demons with a slingshot to earn points Player has to chase and target flying demons with a slingshot to earn points As the player successfully targets the flying demons their go burn and crash on the ground thus preventing any counterattack by the demons on the player As the player successfully targets the flying demons their wings burn and crash on the ground thus preventing any counterattack by the demons on the player Rationale Rationale Non- intrusive, cost effective method of driving the message Non- intrusive, cost effective method of driving the messageAverage time spent by a gamer is 12-15 minutes Average time spent by a gamer is 12-15 minutes Consumers have deeper emotional engagement while gaming Consumers have deeper emotional engagement while gaming Integrated Communication Message Turbocharge Your Passion Integrated Communication Message Turbocharge Your Passion Wings on Fire (Advergaming) Wings on Fire (Advergaming) Mission Market Message Media Mone y Measurement Mission Market Message Media Money Measurement The game reinforces Burns key value proposition of providing energy to win The game is also a tacit attack on competitor Red Bull that claims to give you wings.Upon hitting the demons successfully the message Bullied pops up. High scorers of the game get free Burn merchandise. The game reinforces Burns key value proposition of providing energy to win The game is also a tacit attack on competitor Red Bull that claims to give you wings. Upon hitting the demons successfully the message Bullied pops up. High scorers of the game get free Burn merchandise. Engagement Platform Organizer Audience Cost Mood Indigo IIT Bombay 60,000 Rs. 30,00,00 Malhar Xaviers 30,000 Rs. 1,50,000 Crossroads SRCC 50,000 Rs. 2,00,000ArcharyaHabba ArcharyaInstitue 30,000 Rs. 1,00,000 Standard hired Marathon Procam 96,000 Rs. 8,00,000 SunBurn Percept 1,00,000 Rs. 10,00,000 Eristoff Invasion Only Much Louder 20,000 Rs. 4,00,000 Bartending Competition B urn 120 Rs. 2,00,000 Burn 365 Burn 60,000 Rs. 1,50,000 www. burn. in Burn 40,000 Rs. 40,000 Wings on Fire Zapak/Zynga 30,000 Rs. 5,00,000 Total Impact 5,16,120 Rs. 38,40,000 ( Rs 7. 44 per person) Mission Market Message Media Money Measurement Mission Market Message Media Money Measurement Cost Implications Cost ImplicationsMeasurement Measurement * The Economic measure * Euromonitor * Business Standard * Marketing report by Teja Ande, Docstoc * Industry Estimates gathered from colleges and media buyers * Aaker, J. (1997). Dimensions of brand personality (p. 352) * The Economic Times * Euromonitor * Business Standard * Marketing report by Teja Ande, Docstoc * Industry Estimates gathered from colleges and media buyers * Aaker, J. (1997). Dimensions of brand personality (p. 352) References References Mission Market Message Media Money Measurement Mission Market Message Media Money Measurement

Global Warming Essay

The orbicular Warming surmisal has ope tempo increasingly popular everywhere the past(a) some eld. Citizens of the world argon being encouraged to be more(prenominal) environmentally conscious by others including politicians, celebrities, and world organizations. The problem with the guess lies in the fact that it has find more and more controversial as it gains publicity and attention. The canonical concept behind this theory is that the realm was made with a balance of nursery gasses.These gasses ar pictorially occurring within the airwave travel and they essentially make the planet habitable by keeping it warm. When the world became more industrialized, the amount of ascorbic acid dioxide that was being emitted into the atmosphere increased. In the past hundred age or so, that number has more or less skyrocketed when comp atomic number 18d to the previous amount due to the invention and mass statistical distribution of automobiles, aircraft, trains, and boats. Th e surplus of greenho engage gasses are beyond what the earth coffin nail store and are creating a pseudo blanket around the world.The earth has thence become more and more hot, the globe has heated up by about one degree Fahrenheit over the past centuryand it has heated up more intensely over the past two decades. (IPCC, 2001) To be able to correctly put that into perspective one must pull in the k right awayledge that the temperature residual betwixt the ice age and current times is nine degrees. The potential repercussions of the increase in globose temperature include more intense storms, more repellant droughts, and rising sea levels.There are several ways to have a more positive impact on the environment. E actuallything from buying more aught efficient cars to helping control the population has the potential to help reduce the effects of planetary calefacient. One of the largest contributors to the increase in global temperature in the past century has been the ever expanding population. It is a simple math problem, if one person gos too numerous greenhouse gasses and then proceeds to have seven children, the greenhouse emissions with increase even more so.The more people habituating the planet, the more potential in that respect is for emission of greenhouse gasses. In short, the basis of this argument other than years of documented research and scientific discovery is what harm could we do by being more conservative in our use of energy and other entities that produce more than their share of greenhouse gasses? The swear out as it stands now is none. The harmful effects of ignoring this crisis are all but proven fact. The problem that the pro- global warming theorists have created is that of social standing and unretentive else.While there may be scientific backing to support some of the theory, the media presents the problem with great sensationalism. worldwide warming and energy conservation has thus become a trend and losses some of its validity through this. The scare tactics utilise by the media to promote awareness are just that, a linguistic ploy to gain favor. Awareness of this global threat reinforced public concern and environmental problems and thereby provided environmental activists, scientists, and policy makers with new momentum in their efforts to promote environmental protection. (McC regenerate, 2000)This statement ties line to the potential benefits that would be received if the pro-global warming theorists were to draw enough attention to the issue. Driven by social empowerment and conviction to environmental protection, these activists misrepresent the actual threat and paint it as being more more intense and imminent than the scientific evidence concludes. The fact that the planets temperature is ever changing is solid, however there is no solid validation that gentlemans gentlemans are responsible for this rise.The earths temperature has experienced extreme highs and lows throughout its millions of years in existence and we as humans understand little about what has take a crapd those fluctuation. If humans did not exist billions of years ago, yet the temperature still varietyd dramatically, then why is it that scientists claim that humans are the cause for this current phenomena? The answer to that question is unknown however one could make the assumption that it may be due to our lack of understanding about the way in which carbon dioxide exists in the atmosphere.The public has no easy access to this information therefore it is easily forgotten or removed from the argument. Global warming is a theory that has been wildly blown out of proportion. Media backing and celebrity endorsements combined with political scare tactics have been used to create the sense of responsibility in this matter. The square concern is being masked by the solution that is being presented to the world. The supposed solution to the global warming theorists is to conserve. The real issue at slide by is discovery. Science must be perfected or at least further tested before conclusions can be drawn.While evidence exists on both sides, the side that acknowledges the existence of global warming at least has the appearance of more science on its side. The publicity brought to global warming can have the ability to cause people to accept it as fact rather than simply a theory. That being said, it is the belief of this author that the pro-global warming theory is more valid than the anti-global warming theory. This conclusion was made mostly due to the distrust that this student grew for the anti-global warming supporters.The anti-side invalidates their own arguments by using some basic fallacious thinking and aggressive tactics. Many of the websites and other sources to gain knowledge about the potential non-threat of global warming are extremist and use many common fallacies. For example, here is an excerpt from just one of the many anti-global warming websites a vailable to all on the World Wide Web, We all know that the contrived construct known as cap and trade is nothing more than a fraud to get companies to pay more taxes.It testament have very little, to no, impact on CO2 levels, lots less global warming. (Casey, 2009). The author assumes that the cap and trade issue is universally known and understood which a delusion of hasty generalization is. The second flaw in that particular argument is that it appears to be an argument of outrage in the sense that it degrades the government and paints them to be cash hungry and unconcerned with the well-being of its peoples. Websites against global warming take personal attacks at the politicians or celebrities who endorse the idea of global warming.While these personal attacks may hold some general truth, they do not address that persons ability to become involved with an organization to create awareness for global warming. Personal attacks are used to dissuade the American public from sidi ng with the pro-global warming theory. Celebrities are often used as spokespeople for different causes and charities, but they do not embody what they are speaking for. They are solely a resource to raise awareness to the general population.While it may be true that some scientific evidence has been withheld or not made as accessible to the general population due to its potential harm to the pro-global warming theory, this writer has not been dissuaded from her former school of thought. It is very true that there are more humans on the planet than there were many years ago. It is likewise true that humans now use more advanced technology that have the tendency to produce a lot of carbon dioxide. The link between what we understand about humans and their production habits and the atmosphere may be blurry, but the question remains, why not conserve?In conclusion, the moral of the global warming story is moderation. Little personal changes may affect the way in which the world climate is changing but if they do not, what harm would we have through? Riding a bike to work or walking to school not only reduces the amount of carbon dioxide being produced, it saves that person money. Global warming may not be as big a threat as the media makes it out to be, but there is scientific evidence financial backing the fact that it just may be a threat.Global Warming EssayGlobal Warming is an issue that concerns most everybody worldwide it is the primary cause for the erratic and sometimes devastating endure that is experienced around the world. Global warming is causing the rise in sea level which in numeral causes the flooding of coastal areas and areas with low elevation. Is global warming really happening today? Scientists with the United Nations Environmental Program (UNEP) desire it is so (Mank, 2005). It is indisputable that there has been a rise in the concentration of greenhouse gases (GHG) in the atmosphere during the last century, which scientists think may b e one of the causes of global warming.The climate change however is not a direct result of the rise in greenhouse gases. Will global warming spell doom for our world? Scientists believe this to be so. Much depends on what actions we take now and in the coming years. Meteorologist Jagadish Shukla of the University of Maryland found out that deforestation would cause rainfall in the amazon River to decline by more than 26 percent from the current 2. 5 m. to about 1. 8 m. a year (Bellamy & Gifford, 2000). At the same time, the intense of dodo fuels, particularly coal and oil, produces sulfur dioxide and nitrogen oxides which are hazardous to the atmosphere.Findings show that a single smokestack may produce as much as 500 tons of sulfur dioxide a day. When these gases combine with oxygen and moisture, sulfuric acid and nitric acid is formed. The rain will carry the acids to the ground (acid rain) which may cause the depletion of calcium and magnesium in the soil, elements needed by plants for the formation of chlorophyll and wood, or it may cause the push button of aluminum in the soil, which are poisonous and can kill the roots of trees (Carwardine, 2000).This study intent to (1) know the effect of global warming worldwide thus knowing the global warming and doomsday and (2) widen our knowledge about the ozone slayer and do the humans are the reasons of causing global warming or if its just a natural process that the earth goes through. II. Literature Review Ozone is an unstable oxygen that occurs naturally in the atmosphere (also called isothermal region), the upper portion of the atmosphere in a higher place 7 miles where clouds are rare.The ozone layer absorbs the dangerous ultraviolet-B (UV-B) rays while it allows the needed safe light to pass through. Though easily broken down by other gases in the stratosphere, it is constantly being repaired by the suns rays. However, man is destroying the ozone layer which serves as a protective umbrella against the suns harmful rays. In fact, the ozone layer is destroyed faster than the suns rays can produce it. It is being destroyed by industrial gases like CFCs (Johnston, 2000). CFCs was discovered by doubting Thomas Widgley Jr., a chemist working at the Frigidaire Division of General Motors but were discovered hazardous in 1974only after 44 years of use, used as coolants in refrigerators and air conditioners and aerosol propellants in spray cans, medical sterilizers, cleaning solvents for electronic components and raw materials for making plastic foams such as coffee cups. CFCs are estimated to account for 14 percent of global warming. It is dismaying to know that ozone depletion can be found in the south (Antarctica) and north (Greenland) poles (Dolan, 2006). gibe to British scientist Joe Farman, 40 percent of ozone depletion can be found in the South Pole. At the South Pole is a huge vortex with clouds calm of tiny ice particles, giving chlorine millions of tiny spaces through which it c an perform its deadly dance with ozone even faster (Simpson, 2000). Both holes at the poles are seasonal, opening and closing each year. In the northern hemisphere, a more populous region, ozone depletion rate is between three percent and seven percent for 17 years, as compared previously to only three percent for100 years.On the other hand, what are the effects of Ultraviolet-B rays to human beings and the ecosystem in general? To humans, they can cause throw together cancer and cataract and damage the immune system. To the ecosystem, they can kill planktons (basic element of the ocean food chain), destroy plant life and crops and change global wind and weather patterns. In 1978, Canada, Sweden, the United States and other countries banned the use of CFCs in aerosols. However, other uses of CFCs were found, effecting an increase in its production. The US still uses one-fourth of the worlds annual supply of CFCs (Turner, 2000).However, in September 1987, 24 nations cooperated for the first time to solve this environmental problem and passed the Montreal Protocol. The agreement issued a call for developed nations to bring outze the use and production of CFCs while cutting 50 percent of use and production by 1999. Still, the CFCs currently rising through the troposphere will take seven to 10 years to drift up to the stratosphere. The troposphere is the portion of the atmosphere that is below the stratosphere, extending outward about seven to 10 miles from the earths surface (Bellamy & Gifford, 2000). III.Methodology In order to accomplish this study, the researcher used two different methods to make the investigation more informative, accurate, and successful. Aside from gathering information through internet, the researcher self-collected information through statistics, charts, and observation. IV. Results and analysis During the earliest times, the life-styles of our ancestors were very simple. The air they breathed was clean. The streams were clear and fr ee of harmful organisms. They used natural fertilizers for their agricultural crops. The surroundings were free of household throwaways.Today, there has been a tremendous growth in science and technology. Such advances have brought about changes in terms of new products, improved equipment, and more effective methodologies. Unfortunately, this same technology which made life easier for us produced wastes which are now affecting the quality of our surrounding, air, water, and land. Factories and motor vehicles send tons of pollutants into our air. Excessive air pollution poses a danger to our health and environment. It can likewise cause stunted growth and even death to our plants.Out streams are polluted by discharges from industrial plants that use chemicals. Garbage and sink wastes are carelessly thrown in our surroundings. Synthetic fertilizers and insecticides pollute our land and farm products (Johnston, 2000). At the same time, the burning of fossil fuels, particularly coal an d oil, produces sulfur dioxide and nitrogen oxides which are hazardous to the atmosphere. Findings show that a single smokestack may produce as much as 500 tons of sulfur dioxide a day. When these gases combine with oxygen and moisture, sulfuric acid and nitric acid are formed (Jenner, 1999).The rain will carry the acids to the ground (acid rain) which may cause the depletion of calcium and magnesium in the soil, elements needed by plants for the formation of chlorophyll and wood, or it may cause the release of aluminum in the soil, which are poisonous and can kill the roots of trees. Moreover, nitrous oxide or laughing gas is a colorless gas with a sweet taste and odor that is used as an anesthetic in minor surgery that H2O is responsible for about 6 percent of the human contributes to greenhouse warming.Methane or cow gas, on the other hand, makes up about 18 percent of human contributions to greenhouse effect. Cattle, sheep, goats, and other cud-chewing animals give off methane, in burps and flatulence as they digest (Cairncross, 2002). Experts said that what is happening right now is not a matter of adding a few degrees to the average temperature of a community. A rise of this magnitude may cause life, for without the environment, creatures on earth cannot survive (Davidson, 1999). CFCs are estimated to account for 14 percent of global warming.Experts said that what is happening right now is not a matter of adding a few degrees to the average temperature of a community. A rise of this magnitude may cause life, for without the environment, creatures on earth cannot survive With these, are we all aware of the extent of the damages brought about by modernization? Have we contributed to such environmental dilemma? What have we done to minimize such danger to our lives? How can we take care of our environment? We must undertake measures to preserve our resources and minimize utilization of energy before its too late.Our fight against pollution is an initial ste p toward conserving our environmental resources and energy. We must all join hands for this common goal. If present day emissions of greenhouse gases continue, it is estimated that the rate of increase in global mean temperatures will reach about 0. 30 0C per decade. This will mean a likely increase of 1 0C above the present level by the year 2025, and 30 0C before the end of the next century. A. Resolution a. ) Recycling and Reuse of Solid Wastes Solid wastes are now viewed as a potential resource which must be recovered and reused whenever possible.Since disposal forest resources are rapidly being depleted, recycling solid wastes twist a solution to both. Consider the element phosphorus. Mined from phosphate ores, it is manufacture into fertilizers. It enters the plant tissues and we obtain it when we eat plant as vegetable. This is later excreted and joins the sewer system. The sewage system sludge can be used directly as fertilizer or soil conditioner. Used bottles can be used over and over again. Durable plastic containers can be saved for more household uses.Tires can be recapped and used again. Old clothing materials are used as kitchen towels and bags (see Environment Matters Industrys Guide to the Issues, the Challenges and the Solutions, 1999). If the materials cannot be used over several times, then they can be shredded and converted into a new form. Old newspapers are repulped into new paper. Broken glasses are ground and manufactured into new ones. Tires are processed to raw rubber. Protein leftovers are manufactured into animal feeds. b. ) Conserving our ForestsEvery now and then we receive alarming news about our forests being denuded. Big logging concessionaires indiscriminately cut down trees without initiate reforestation measures. Without trees, the soil is loosened and rapid erosion occurs. As a result fertile topsoil is washed away, which makes growth of other forms of vegetation almost impossible. We suffer great loss of timber, wildlif e, and other forest products. But the greatest danger is the occurrence of floods and global warming that cause losses of food, properties, and lives (Davidson, 1999).

Whirlpool: Maintaining a Sustainable Competition in the Industry

The U.S. public lavatory commercialize was completely saturated in 1986. Increased pressure from other companies like GE who implemented a $1 one million million million restructuring project on its appliance division, and Electrolux, a company that just inherited WCI and hence became a huge presence within the U.S., gave the Whirlpool top care concern on how to stay competitive.Whirlpool k unsanded that the three main markets for home appliance were in the U.S., Europe and Japan. The U.S. market, as previously stated was saturated. Most U.S. appliance purchases were replacement purchases, which did non allow for much add-ons. This made the U.S. a battleground for intense marketing and increased pressures to cut costs dramatically. The unsaturated European market had more potential in 1986. Europe had a large market share in 1986 that analysts suspected would last well into 1993.Europe also had more potential for innovation and add-ons as opposed to simply replacement appliance s like those of the United States. One concern over Europe, however, was that it was extremely fragmented and hence not easy to achieve economies of scale. Japan, the last player was also a site for potential growth. It was a smaller market than Europe, however, and there was already a slopped presence of Japanese appliance manufacturers there.Whirlpool considered pursuing a joint venture with Phillips, an internationally established company. Phillips has an established appliance department, but Phillips wanted to sign its efforts on other projects like welding, energy cable and furniture. Phillips was willing to spin-off its appliance division and to give Whirlpool a certain percentage of the new company.Based on the fact that Whirlpool wants to remain a competitive player in the appliance industry, it should pursue international expansion and clench the rootage mover advantage over GE while increasing pressure on Electrolux. Whirlpool should go along with the Phillips joint ven ture due to Phillips strong international presence and its strong appliance division. Whirlpool should consider concentrating on expansion in Europe. The countries may be fragmented, but there is reason that there is increased future collaboration amongst the countries and their purchasing decisions. Furthermore, Whirlpool can cut costs by vertically integrating its components and changing only the out(prenominal) of the appliances if need be.

Solving Proportions

A comparison of two numbers is referred to as a proportionality, similar to fractions that can be reduced to lowest terms and then converted into a ratio of integers. Ratios allow one to comp atomic number 18 sizes of two quantities and unit measurements. Any statement expressing the equality of two ratios is known as a proportion, which is used in numerous formulas in todays real world settings and applications. Using proportions is an effective commission to find resolvents by using the extreme intend property or cross-multiplying. Extreme means property is simply the end result of the product of the extremes equaling the products of the means.Cross-multiplying is a short cut in proportions providing it is a faster way to solutions rather than multiplying each side of the rational expression equation by the LCD. Applications of rational expressions involving formulas intromit finding the equation of a line, distance, rate, time, uniform motion, and work problems. Proportions are used on a daily basis without eventide one realizing it by compare measurements, unit pricing, driving distances, and calculating populations and wildlife on a daily basis to find a solution.For example, I go away be using the extreme means property to estimate bear population in Keweenaw Peninsula. I was asked to solve problem 56, on page 437 of Elementary and intermediate algebra, (Dugopolski, M. , 2012) which states, that conservationists captured, mark, and released 50 bears. Over a one-year period, a random sample of 100 bears included only 2 tagged bears in Keweenaw Peninsula. To calculate the proportion, it will allow me to expect the ratio of bears that were originally tagged to the whole population is equal to the ratio of the returning bears totaling 100 scarcely only 2 tagged bears to the size of the sample.The versatile b for bears is applied, then followed by cross-multiplying the extremes and means to the proper set up of the proportion to find the solution. The two ratios are as follows 50/b = the originally tagged bears to the whole population and 2/100 = the recaptured bears to the sample size. The means are 2 and b and the extremes are 50 and 100. 50 = 2 b 100Correct frame-up of proportion. 5,000 = 2b cross multiply the means (2*b) and the extremes (50*100) 2 2followed by division of 2. 2,500 Answer after division was carried out.x = 2, 500 The estimated number of bears in Keweenaw Peninsula. Continuing onto the second date involving proportions, the following equation must be solved for y. Since there are single fractions (also referred to as ratios) on both sides of the equation, the extreme means property will be used again in this proportion. y 1 = -3 x + 3 4Written as an equation solving for y. 4(y 1) = -3x(x + 3)Cross multiplying was done. 4y 1 + 4 = -3x +3 +3Distribute 4 on left side and 3 on the right side. y = -3x -3 + 1 Add 1 to both sides.4y = 2x -5Last step, 4 is divided on both sides. 4 4 y = -3 4 Linear equation i n the form of y = mx + b and with a slope of -3/4. Taking reflection that the slope of -3/4, is the same number as the number on the right hand side of the previous equation. I must continue trying some other method but still use the extreme means property and try another method to see if I get a variant solution. This may be an extraneous solution that I may come upon considering if the solution does not satisfy the rational expression.y 1 = -3O riginal equation. x 3 4 y 1 = -3 Distribute (x-3) on both sides and multiply. x 3 4 (x 3)Cancel out common factors which eliminates denominator on left. y 1 + 1 = -3x 3 +1 To isolate y, 1 is added to both sides. Cancel common factors. y = -3 x -1 4Equation complete and simplified. For this equation, I could have multiplied the LCD to both sides, but I found the extreme means property was an efficient shortcut. Cross- multiplying allowed me to eliminate the fractions and have the same ending result.We can now consider this an extra neous solution because the number showing as the solution but causes zero (0) in the denominator. As rational expressions can be tricky when there is a variable involved in the denominator so caution must be adhered. The use of proportions is everyday life and real world settings and applications are used without one even realizing it. While proportions can determine a solution whether it be driving distance, estimated population count, unit measuring, gas mileage, or to estimate an average time for a job to be completed, it is a necessary tool that is used in many ways.The ratios that build the proportion can be easily solved by cross- multiplying the extremes and means in a fast and effective way. The wildlife can be assured that their tags will be calculated with an accurate solution for any conservationist inquiring about a certain species. So the next time you find yourself comparing two quantities, deciding the average time for a detail job, or determining how many miles you can go on a half of tank of gas on your next road trip, remember you are actually calculating proportions

Financial Management in Non Profit Organizations

ITO-YOKADO COMPANY, LTD. M. Edgar Barrett and Christopher D. Buehler Overview The Ito-Yokado Company consisted of three line of work incisions Super barge ins and other Retail accomplishments (lto-Yokado super retentions, Daikum discount bloods, York Mart, York Benimaru, Robinsons department put ins, and Oshmans Sporting Goods) Restaurant Operations (Dennys and Famil Restaurants) and Convenience Store Operations (7-Eleven lacquer). Ito- Yokado had just acquired struggling Southland weed and transitional long-term st stridegies for Southland would have to be developed.Although diversified, Southlands large(p)st business segment was its Stores Group answerable for in operation(p) and franchising of over 7,500 7-Eleven public toilet hold ons. Masanori Takahashi, a elder strategy analyst for Ito-Yokado was considering the possibility that long-term strategies that had been victorious in japan in addition could be successful in the United States was vastly disagreeent than that of lacquer nevertheless, he was confident that through c areful and thorough planning, the goal of making Southland economic could be achieved. Learning Objectives . To acquaint students with the development of a lacquerese company and its move into U. S. patsyets see writer serv field glass review. 2. To acquaint students with elements of japanese management through Ito-Yokados operation reform project and to induce them to question the transferability of marketing across national boundaries. 3. To familiarize students with the nature of retailing in lacquer buying essay papers online. 4. To show how Southland Corporation became subject to acquisition by Ito-Yokado Company, Ltd. 5. To present the nature of the convenience store labor in the United States.In mid- jar once against 1991, Masanori Takahashi, a senior strategy analyst for Ito-Yokado Company, was preparing to depart for Dallas, Texas. Once there, he would be leading a team of Japanese and Ameri deal manage rs responsible for establishing transitional and long-term strategies for the Southland Corporation. aft(prenominal) nearly an spotless year of intense bargaining and negotiation with Southland and its creditors, Ito-Yokado acquired Southland on March 5, 1991. Takahashi began working with Ito-Yokado in 1972 as an assistant manager of iodine of the companys superstores. He had advanced to the position of regional manager by 1979.In early 1981, Ito-Yokados Operation Reform Project was conceived and Takahashi was asked to be a member of the team leading the project. During the freshman few months on the team, Takahashi quickly understood certain crucial aspects of the juvenile project, just active nonably the use of point-of-sale (POS) systems. Implementation of the project advanced most rapidly in Ito-Yokados 7-Eleven Japan subsidiary, so he likewise had become familiar with the operating environment of convenience stores in Japan. As Takahashi left hand his Tokyo office, he could not help but feel both excitement and apprehension regarding his vernal position.He had gained confidence while involved with the successful Operation Reform Project at Ito-Yokados superstores and 7-Eleven Japan convenience stores, but this experience might or might not prove to be useful in respect to Southland. COMPANY BACKGROUND Ito-Yokados founder, Masatoshi Ito, was born in 1924 and graduated from a commercial high school in Yokohama. He worked concisely at Mitsubishi clayey Industries before joining Japans war effort in 1944. After World War II, he worked with his mother and elder brother at the familys 66- lame-foot clothing store in Tokyo. 1 The store was in corporald as Kabushiki Kaisha Yokado in 1958.By 1960, Ito was in sole say-so of the family business. During that kindred year he make his commencement find out to the United States. In 1960, Ito visited National Cash Register (NCR) in Dayton, Ohio. piece in the United States, Ito was introduced to name su ch(prenominal)(prenominal) as supermarkets and chain stores by NCR, which was arouse in selling property registers to Japanese retail merchants. In Japan, retailing was dominated by mom-and-pop stores and a handful of venerable department stores, with few types of retail outlets in between. At this time, Ito began to see the possible role of mass trade inrs in a society becoming mass-oriented. Ito soon opened a pure chain of superstores in the Tokyo area. These stores carried a large selection of household in effect(p)s, food, and clothing of commonplacely lesser quality and lower price than either the mom-and-pop or department stores. By 1965, Ito had opened eight superstores. In the same year, the name of the chain was changed to Ito- Yokado. The Growth of Ito- Yokado as a Superstore Itos fancy for the superstores was pennyered on having the rough equivalent of some(prenominal)(prenominal) types of retail stores contained within one multistory superstore.The initial sto res were located near universe centers and railroad stations in the Tokyo areas. Often, several stores were located in close proximity in sound out to achieve regional dominance. The results were high name recognition, reduced distribution costs, and the effective squeezing out of competition. Ito soon effected that social changes in Japan could create new opportunities for his retailing ideas. Younger and to a greater extent mobile Japanese appeared to be less willing to spend a great deal of time shopping at numerous mom-and-pop stores. Also, the Japanese society was experiencing change magnitude suburbanization.Ito decided to locate stores in suburban prefectures. There were 47 prefectures (provinces) in Japan. One reason for locating stores in suburban areas was the lower cost of real estate. This allowed Ito-Yokado to open larger stores with more parking spaces than competitors located in congested urban areas. Ito continued to use a strategy of regional dominance with the se new openings, most of which were concentrated in the greater Kanto district, which consists of the Tokyo metropolitan area and surrounding cities. By the early seventies, Ito-Yokado stores were opening at the rate of intravenous feeding or five per year.By the of late 1970s, nine or 10 new stores were opened annually. In early 1987, 101 of 127 Ito- Yokado superstores were located in the greater Kanto district. Ito also adopted a strategy of leasing any(prenominal) properties for new stores. As of the mid-eighties, more than 87 per centum of Ito-Yokados aggregate sales floor space, 10 of the companys 11 distribution centers, and the company headquarters in Tokyo were all leased? Often, station prices were astronomical, or the owners of well-located sites would not part with their property for any price. Constraints on GrowthThe initial success of Ito-Yokado and the other superstores soon resulted in retaliatory action by a powerful competitor the mom-and-pop store owners. Th ese splendid retailers were said to pull the strings of Liberal Democratic Party politicians at the local level. 8 The action initiated by the fine retailers resulted in the 1974 Large Store Restriction Act, which was subsequently strengthened in 1979. The accredited act restricted the opening of stores with sales areas of more than 1,500 substantive meters (16,500 square feet). In addition, the act restricted the hours of operation of new and existing large stores.A series of changes in 1979 added restrictions on stores with sales areas greater than 500 square meters (5,500 square feet). A Commerce Coordination Committee was established in each area in order to set policy regarding large-store openings and hours of operation. The committees were effectively controlled by the small retailers. By the early 1980s, Ito-Yokado was opening only four or five new stores annually. Factors other than the Large Store Restriction Act adversely bear on Ito-Yokado. Japanese consumers real disposable income decrease by a pocket-sized more than 1 percentage during 1980-1981. 0 Japan experienced a general economic down cultivate in the early 1980s, as did the rest of the world, again serving to limit consumer purchasing power. Net income for Ito- Yokado-which had grown almost 30 percent per year between 1976 and 1981-grew by 9. 7 percent in 1982 and by 0. 9 percent in 1983. 11 The legal restrictions imposed on large stores, when combined with the economic downturn, led to both lower current earnings and a projection of reduced rates of offshoot in future earnings. Ito-Yokado as a Parent Company During the early 1970s, Ito began engage new retailing enlivens.In 1972, he approached Dallas-based Southland Corporation in an attempt to secure a license to pursue 7-Eleven stores in Japan. He was rebuffed. He do a similar attempt in 1973 with the aid of a Japanese trading company, C. Ito and Company, and was successful in obtaining the license. Concurrently, Ito was pu rsuing another U. S. firm, Dennys Restaurants, in an attempt to obtain rights for opening Dennys Restaurants in Japan. Both subsidiaries, Dennys Japan and 7-Eleven Japan (originally called York Seven but renamed 7-Eleven Japan in 1978), were established in 1973.The first 7-Eleven and the initial Dennys in Japan were both opened in 1974. rail line for each of the two majority- owned subsidiaries was traded independently on the Tokyo Stock Exchange. Both subsidiaries became profitable around 1977. ITO-YOKADO IN THE 1980s The Ito-Yokado group consisted of three business segments Superstores and other Retail Operations, Restaurant Operations, and Convenience Store Operations. The Convenience Store Operations segment was made up of 7-Eleven Japan. The Restaurant Operations segment consisted of Dennys and Famil Restaurants.Ito-Yokado super- stores, Daikuma discount stores, two supermarket chains (York Mart and York-Benimaru), Robinsons Department Stores, and Oshmans Sporting Goods Store made up the Super-stores and other Retail Operations segment. Ito-Yokados financial statements are shown in Exhibits 1 through 3 in separate attachments. SUPER pedigreeS AND OTHER RETAIL trading operations York Mart and York-Benimaru York Mart was a wholly owned subsidiary established in 1975. In 1990, it survived 40 supermarkets located primarily in the Tokyo area.These stores change in the main fresh foods and packaged goods, and competition was high in this geographic and retail area. Ito- Yokados Operation Reform Program was implemented by York Mart in 1986 as a means to boost efficiency and profits. By 1990 sales were increasing at 6 percent per year. See Exhibit 3. Is York-Benimaru was a 29-percent-owned harmonize of to-Yokado, and was an independently managed regional supermarket chain. York-Benimaru operated 51 stores as of 1988. The stores were located in the Fukushima prefecture of Koriyama-city in northern Japan. Like York Mart, York-Benimaru operated with a higher p rofit margin than the supermarket attention as a whole. York-Benimarus earnings growth rate of 13 percent per year was expected to last into the 1990s, and Ito-Yokados parcel out of this profit was the major contribution to the equity in earnings of affiliates portion of Ito- Yokados income statement (see Exhibit 2). Daikuma Daikuma discount stores were consolidated into the Ito-Yokado group in 1986, when Ito-Yokados ownership of Daikuma increased from 47. 6 percent to 79. 5 percent. In 1990, Daikuma was one of the largest discount store chains in Japan with 14 stores.Although Daikuma was popular among puppylike Japanese consumers, the discount stores attracted the critical attention of competing small retailers. Because the discount stores were modulate by the Large Store Regulation Act, intensive effort was required to open new stores. Despite these mickle, and increasing competition, Daikuma opened two discount stores in 1989. Robinsons Department Stores In 1984, the Robins ons Japan Company was established to open Robinsons Department Stores in Japan. The Robinsons name was used under the terms of a license grant by the U.S. store of the same name. The Japanese company was wholly owned by Ito-Yokado, and the first Robinsons Department Store in Japan was opened in November 1985 in Kasukabe City of Saitama Prefecture. This was a residential com- munity north of Tokyo and was a rapidly growing area. Although an Ito- Yokado super- store was located nearby, Ito-Yokados management believed that a niche existed for a slightly more upscale retail store. Ito-Yokado had shattered traditional wisdom by opening up a department store in the suburbs, not in the center of Tokyo. 21 The attitude was expected to serve a population area of more than 600,000 residents and to offer a broad selection of consumer goods at prices higher than superstores yet lower than the downtown Tokyo department stores. Many of the strategies active by Ito-Yokado in opening its Robins ons Department Store followed similar strategies employed in its superstores. The land was leased (in a suburb). Instead of purchasing goods on a consignment basis as most other department stores did, Robinsons managers were made responsible for the outright bribe of goods from suppliers.This allowed Robinsons to purchase goods at a significantly reduced price. Robinsons reported its first profit in fiscal 1989, approximately four eld after opening. In contrast, most Japanese department stores operate approximately 10 years before reporting a profit. The single Robinsons location grossed about ? 28 gazillion (US$220 zillion) in fiscal 1989. 24 The second Robinsons Department Store opened in late 1990 in Utsunomiya, about atomic amount 6 kilometers (60 miles) north of Tokyo. Oshmans Sporting GoodsIto-Yokado licensed the Oshmans Sporting Goods name from the Houston, Texas, parent company in 1985. That year, two stores were opened. One of the stores was located inside the origin al Robinsons Department Store. eatery OPERATIONS The Famil Restaurant chain was started in 1979 as an in-store restaurant to serve customers at Ito-Yokado superstores. It had however, billow to 251 locations by 1988. 25 The Famil chain did not record its first positive earnings until 1986. In Famils attempts to expand operations, the company had emphasized its plying business. By 1990, the in-store operations (those located in Ito- Yokado superstores) accounted for 45 percent of Famils sales, the catering business accounted for 32 percent of sales, and freestanding stores accounted for 23 percent of sales. Dennys Japan Ito-Yokado opened the initial Dennys (Japan) Restaurant in 1974 with a license from Dennys of La Mirada, California. Ito-Yokado tailored the U. S. family restaurant to the Japanese market, and Dennys Japan became profitable around 1977. By 1981, 100 Dennys Japan restaurants had been established. and in 1990 there were 320 such restaurants operated by Ito-Yokado. In 1990, Ito-Yokado controlled 51 percent of Dennys Japan stock. In the early 1980s. Ito-Yokado decided that Dennys Japan should purchase all rights to the Dennys name in Japan. The purchase was made in 1984, and royalty payments to the U. S. parent were thereby discontinued. In fiscal year 1990 (March 1989 to February 1990), Dennys Japan reported a meshing annual sales increase of 10. 9 percent, as compared with the 4. 9 percent Japanese restaurant industry sales increase for the same period= Exhibits 4 and 5 contain financial statements for Dennys Japan.In 1988, Dennys Japan began using an electronic order-entry system, which allowed managers of individual restaurants to quickly order food sup- plies based on trends in their own restaurants. It also allowed for the periodic updating of menus to reflect new food items. See exhibits 4 and 5. CONVENIENCE STORE OPERATIONS 7-Eleven Japan Since the opening of the first 7-Eleven store in 1974, the chain had grown to more than 4,300 sto res located in virtually all parts of Japan by February 1990. 32 At that time, about 300 new stores were universe opened annually.Ito-Yokado owned approximately 50. 3 percent of 7-Eleven Japan in 1990. Originally, young urban workers represented the primitive customer base. As 7-Eleven pe lastrated the Japanese market, however, almost everyone became a potential customer. In Tokyo, for example, utility bills could be paid at the chains stores. The 7-Eleven stores were small enough, with an average of only 1,000 square feet, to effectively avoid regulation under the Large Store Regulation Act. This allowed 7- Eleven to compete with the mom-and-pop retailers on the basis of longitudinal hours of operation and lower prices.Faced with this competition, many of the small retailers joined the ranks of 7-Eleven. By converting small retailers to 7-Eleven stores, Ito-Yokado was able to expand rapidly and blanket the country 7-Eleven Japan pursued a strategy of franchising stores instead o f owning them. The franchise commission for 7-Eleven stores was approximately 45 percent of the gross profit of the store (the commission was 43 percent for 24-hour stores). Ito-Yokado provided most of the accessary functions for each store (e. g. , administration, accounting, advertising, and 80 percent of utility costs).In 1987, 92 percent of all 7-Eleven stores in Japan were franchised. and by 1990, only 2 percent of the 7-Elevens were corporate owned. Within the Ito-Yokado group, 7-Eleven contributed 6. 8 percent of revenues in 1990. With this relatively small portion of overall corporate revenues, however, 7- Eleven Japan contributed more than 35 percent of the groups profit. on a lower floor its licensing agreement, 7-Eleven Japan paid royalties of 0. 6 percent of gross sales to the Southland Corporation. In 1989 and 1990, 7-Eleven Japan paid royalties of about $4. 1 gazillion and $4. million, respectively. The financial statements for 7-Eleven Japan for the years 1986 to 1990 are shown in Exhibits 6 and 7. OPERATION REFORM PROJECT Ito-Yokado implemented the Operation Reform Project in late 1981 in a retail industry environment punctuated by reduced consumer spending and decreasing margins. The goals of the project were to increase efficiency and boost profitability by increasing the inventory turn while avoiding empty store shelves. The plan was originally implemented in the Ito- Yokado Superstores and the 7- Eleven Japan convenience stores.The implementation of the project involved a set up effort of catering to rapidly changing consumer preferences while, simultaneously, monitoring merchandise flow more closely. This coordination was accomplished by making individual store managers more responsible for such decisions as what merchandise was to be stocked on store shelves, thus allowing managers to tailor merchandise selection in their individual stores to local preferences. precede Ito-Yokado regional managers held weekly meetings with store ma nagers to monitor the implementation of the project.As late as 1988, these meetings were still held on a weekly basis. In order to avoid depletion of store stocks, Ito-Yokado established an on-line ordering system with vendors. In 1982, the ordering system reached only 400 vendors. By 1988, however, the system linked Ito- Yokado with 1,860 vendors. Point-of-Sale System As implementation of the Operation Reform Project began, Ito-Yokado paid increased attention to the importance of obtaining information regarding the flow of merchandise through individual stores. The tool elect to accomplish this task was the point-of-sale system.POS system usage was increasing in the United States in the early 1980s, but the systems were used primarily to increase productivity at the cash register. In contrast, Ito- Yokado used similar systems as a part of the project by monitoring specific merchandise flow. As of the late 1980s, many retailers in the United States had begun utilizing POS in simil ar capacities, and some had begun to use POS to track the purchases of individual consumers. The first use of POS systems in Japan came in 1982, when 7-Eleven Japan began installing them in its stores. By 1986, every 7-Eleven store in Japan was equipped with such a system. The systems available were sophisticated enough to monitor the entire stock of merchandise in a typical convenience store having about 3,000 items. The systems could monitor the flow of every item of merchandise through the purchase, inventory, sale, and restocking stages. In late 1984, Ito-Yokado decided to install POS systems in the superstores. The sophistication of those systems installed in convenience stores, however, was not adequate to handle the merchandise flow of a superstore, which could stock up to 500,000 items. New POS systems were developed n a coordinated effort by Ito-Yokado, Nippon Electric, and Nomura Computer Services. The installation of POS systems in the existing superstores was completed in November 1985, with more than 8,000 POS registers installed in 121 stores. With 138 stores in 1990, Ito-Yokado had an estimated 9,000 POS registers in the superstores alone. In 1986, after the systems had been installed in all superstores and 7-Elevens, Ito- Yokado accounted for about 70 percent of the POS systems in use in Japan as of 1988 7-Eleven Japan was the only major convenience store chain in Japan to have installed POS systems. By August 31, 1989, Japan had 119,137 POS scanner-equipped registers in 42,880 stores, making it the country with the most POS systems in use. The POS systems used by 7-Eleven Japan and Ito-Yokado superstores were upgraded in 1986 to add a new dimension to Ito-Yokados Operation Reform Project. The upgraded systems allowed for bidirectional communication with the company headquarters. This cause essentially allowed information to flow not only from individual stores to a interchange location, but also from the central location back to individu al stores.By linking the central system to other computer systems, more information than just sales of retail items could be transmitted. This capability allowed Ito-Yokado to increase the efficiency of deliveries by centralizing some orders. By increasing the essential size of orders, Ito-Yokado increased its bargaining position with distributors. One result of this bargaining strength was more frequent deliveries of smaller volume. From 1987 to 1988, deliveries increased from one to three per week for stores in many regions of Japan, notably the Tokyo, Hokkaido, and Kyushu areas.Using the POS systems, 7-Eleven began to offer customers door-to-door parcel delivery in conjunction with Nippon Express. In addition, some POS terminals were being used to issue prepaid telephone credit cards+ Since October 1987, Tokyo-area customers had been able to pay their electric bills at 7-Eleven since March 1988, they had also been able to pay their louse up bills Women traditionally manage hou sehold finances in Japan, so these services were designed to attract more women customers to the convenience stores. Results For the Ito-Yokado superstores alone, average days of inventory decreased from 25. in 1982 to 17. 3 in 1987. By 1990, it was estimated to be 13 days. The effect on operating margins and net income for the entire Ito-Yokado Corporation was equally dramatic. In 1982, the companys operating margin stood at 5. 1 percent. It had increased to 8. 1 per- cent by 1987. By 1990, the operating margin had climbed to 10. 5 percent. Net income for the corporation increased from ? 14,662 million in 1982 to ? 34,649 million in 1987, and ? 58,465 million in 1990. 7-Eleven Japan recorded similar increases in operating margins and net income during the same period.In 1982, 7-Eleven Japans operating margin was 20. 7 percent. It had increased to 34. 6 percent by 1987. Net income from the 7-Eleven operations increased from ? 7,837 million in 1982 to ? 33,000 million in 1987. As of 1990, the Ito-Yokado Corporation was the second largest retailer in Japan, with ? 1,664,390 million of annual gross sales. The leading retailer was Daiei, with ? 2,114,909 million of revenues. Ito- Yokado was, however, the most profitable retailer in Japan, with net income of ? 58,465 million. In comparison, Daiei recorded net income of only ? 9,457 million for 1990.Financial statements for Daiei are shown as Exhibits 8 and 9. THE SOUTHLAND CORPORATION The Southland Corporation began in Dallas, Texas, in 1927 when Claude S. Dawley consolidated several small Texas ice companies into the Southland Ice Company. This new company was under the direction of 26-year-old Joe C. Thompson, Sr. Under Thompsons guidance, Southland began to use its retail outlets (curb service docks) to sell products in addition to ice, such as watermelon, milk, bread, eggs, and cigarettes. With the addition of these products, the concept of the convenience store was born.During the Great Depression and the 1940 s, Southlands convenience store business added several more products, including gunslingeroline, frozen foods, beauty products, fresh fruit and vegetables, and picnic supplies. Because the store opened at 7 AM and remained open till 11 PM, the store name 7-Eleven was adopted during this time. The 1950s were a period of substantial growth in terms of the arrive of stores and of 7-Elevens geographical coverage. The first stores located outside of Texas were opened in Florida in 1954. During the same year, 7-Elevens operating profit surpassed the $1 million mark for the first time.By 1959, the entire 7-Eleven empire constituted 425 stores in Texas, Louisiana, Florida, and several other East Coast states. privy Thompson became president of Southland when his father, Jodie Thompson, died in 1961. During the 1960s, a population migration toward the suburbs and changing lifestyles presented Southland with new growth opportunities. John Thompson lead Southland on the path of expansion, a nd more than 3,000 stores were opened in the decade. The product line of 7-Eleven also grew during this time to embroil prepared foods, rental items, and some self-service gasoline pumps.The 1970s were also a period of achievement for Southland. In 1971, the $1 billion sales mark was surpassed. Southland- stock began trading on the New York Stock Exchange in 1972, and the 5,OOOth store was opened in 1974. It was at this time that Masatoshi Ito approached Southland with the prospect of franchising 7-Eleven stores in Japan. During the 1970s and early 1980s, Southlands activities became more diversified. In 1986, the company had four operating groups the Stores Group, the Dairies Group, the peculiar(prenominal) Operations Group, and the Gasoline Supply Division.The Stores Group represented the largest of the operating groups in terms of sales through the 1980s. The Stores Group was responsible for the operating and franchising of convenience stores. At the end of 1985, there were 7,5 19 7-Eleven stores in most of the United States and five provinces of Canada. This group was also responsible for 84 Gristedes and Charles & Company food stores. 38 Super-7 outlets, and 7-Eleven stores operated under area licensees in the United States, Canada, and several Pacific Rim countries, including Japan.The Dairies Group was one of the nations largest dairy processors in 1986 and served primarily the Stores Group, although aggressive marketing in the 1980s targeted service to institutional dairy needs. This group operated in all of the United States and parts of Canada. The Special Operations Group consisted of Chief Auto Parts (acquired in 1979) Pate Foods (a snack food company) Reddy Ice (the worlds largest ice company) and Tidel Systems (a manufacturer of cash dispensing units and other retailer equipment).The Gasoline Supply Division was formed in 1981 to serve the gasoline requirements of the more than 2,800 7-Eleven stores handling gasoline. This divisions history was punctuated by the 1983 acquisition of Cities Service Refining, Marketing, and Transportation businesses (CITGO) from occidental Petroleum. Southlands Recent Activities Southlands dramatic growth and diversification during the 1970s and early 1980s resulted in 7-Eleven having a dominant position in the convenience store industry.Despite this position, circumstances since the mid-1980s had greatly eroded 7-Eleven and Southlands strengths. The oil price collapse of early 1986 was the sharpest drop of naked as a jaybird oil prices in history. The instability of crude oil and wholesale tenuous products, coupled with CITGOs inventory methods and various write-downs, resulted in only modest income for a previously very profitable company. The volatility of CITGOs financial position greatly impact Southlands earnings. Southlands equity interest in CITGO contributed to a $52 million loss for the entire corporation in 1986.In order to reduce the impact of an unstable crude oil market and t he accompanying volatility of CITGOs earnings, South- land entered into a joint run a risk with Petroleos de Venezuela (PDVSA) in late 1986. The joint venture with PDVSA had several components. Southland sold a half- interest in CITGO to a subsidiary of PDVSA for $290 million. In addition, PDVSA agreed to both supply CITGO with a minimum of 130,000 barrels of crude oil per day and pro- vide its share of CITGOs working capital requirements. A takeover attempt of Southland occurred in April 1987.Canadian financier Samuel Belzberg approached the Southland board of directors with an offer of $65 per share of common stock. Unwilling to relinquish control of Southland, the Thompson family tendered $77 per share for two-thirds of the outstanding shares in July 1987. The other third of the shares would be purchased at $61 per share (plus $16 per share of new preferred shares) by the would-be private Southland Corporation. Financing for this acquisition came from $2 billion in loans from a group of banks and a $600 million bridge loan from Goldman, Sachs and Salomon Brothers. An additional $1. billion was generated by the issue of subordinated debentures Gunk bonds) in November 1987. This occurred after the stock and junk bond markets crashed in October 1987. Southlands investment bankers had to sell the bonds at a blended rate of almost 17 percent, instead of the anticipated rate of 14. 67 percent. The Thompson family emerged from the buyout owning 71 percent of Southland at a total cost of $4. 9 billion. Paying the proud Costs of a Leveraged Buyout After Southland had been taken private through the leveraged buyout (LBO), significant changes occurred in both Southland and 7-Eleven operations.Southland was restructured, with the elimination of two levels of middle managers. During this time, Southland began selling more 7-Eleven stores than it opened in the United States and Canada. Due to the increased number of licensees opening stores overseas, however, the total number of stores worldwide continued to increase. 7-Eleven Japan was primarily responsible for this increase, with the opening of 340 stores in 1988 and 349 stores in 1989. Southland also divested itself of many large assets in the 1988 to 1990 period (see Exhibit 10).Significant in this group of divestments were the entire Dairy Group, more than 100 7-Eleven stores in the Continental United States, Southlands remaining interest in CITGO (sold to PDVSA), and 7-Eleven Hawaii, (purchased by 7-Eleven Japan). In November 1989, 7-Eleven Japan purchased 58 stores and additional properties from Southland. These properties and stores, which were located in Hawaii, were exchanged for $75 million in cash. The 58 convenience stores were organized as 7- Eleven Hawaii, which was established as a subsidiary of 7-Eleven Japan.As of December 31,1990, Southland operated 6,455 7-Eleven convenience stores in the United States and Canada, 187 Highs Dairy Stores, and 63 Quick Mart and Super-7 Stores. S outhland owned 1,802 properties on which 7-Eleven stores were located. another(prenominal) 4,643 7-Eleven stores in the United States and Canada were leased. In addition the company possessed 234 store properties held for sale, of which 109 were unimproved. 77 were closed stores and 48 were excess properties adjoining store locations. Three of Southlands four food-processing facilities were owned (the other was leased).The company owned six properties in the United States on which distribution centers were located. fiver of the six distribution centers were company owned. Until December 1990 the company had also owned its corporate headquarters (called City- place) located near downtown Dallas. 59 Financial statements for Southland Corporation are shown in Exhibits 11 and 12. THE PROPOSED PURCHASE OF SOUTHLAND BY ITO-YOKADO The divestments of 1988, 1989, and 1990 constituted attempts by Southland to generate sufficient cash to service the massive debt incurred from the LBO of 1987. By early 1990, however, it was apparent that the cash generated from these divestments and Southlands operations was not sufficient to cover its interest expense. Some experts estimated that Southlands cash shortfalls would reach $89 million in 1990 and more than $270 million in 1991. 60 Southlands long-term debt still totaled about $3. 7 billion, and interest expense alone in the first three quarters of 1989 was almost $430 million. In March of 1990, Southland announced that it was seeking rescue by Ito-Yokado. Proposed Acquisition of Southland by Ito- YokadoSouthland had looked at possibilities of receiving assistance from other U. S. companies, but decided that Ito-Yokado was the best potential partner. 63 The original proposal would have resulted in Ito-Yokado receiving 75 percent ownership of Southland for $400 million. This proportion of Southland would be split between Ito- Yokado and 7- Eleven Japan, with 7- Eleven Japan obtaining two-thirds of the 75 percent share. The dea l was contingent on Southlands ability to swap its outstanding manly traded debt for stock and zero-coupon (non-interest-bearing) bonds.The publicly traded debt amounted to approximately $1. 8 billion. There were five classes of public debt, ranging in type and interest paid. The interest rate of the bonds varied from 13. 5 percent to 18 percent. Ito-Yokados offer was also contingent on 95 percent of all bond- holders of each public debt issue accepting the swap. Under this original proposal, the Thompson family would retain a 15 percent stake in Southland, and the remaining 10 percent of the company would be held by bondholders.The original proposal had a deadline of June 14, 1990, at which time either Ito- Yokado or Southland could cancel the agreement. Neither party indicated that such action would be taken, even though Southlands bondholders balked at the swap proposal. A bigger problem was facing the two companies a rapidly approaching interest payment due on June 15, 1990. So uthlands failure to pay the $69 million payment would result in Southland having a 30-day grace period in which to compensate bond- holders. At the end of the 30-day period, unpaid bondholders could try to force South- land into bankruptcy court. Revisions to the Proposed Buyout Southland did not make its scheduled interest payment that was due on June 15, 1990. Bondholders, meanwhile, had shown little regard for the original deal struck between Ito-Yokado and Southland. Three more revisions of the proposed debt restructuring and terms for the buyout were submitted between mid-June and mid-July 1990. In each revision, either Ito- Yokados or the Thompson familys stake in Southland was reduced and the share of Southland stock offered to bondholders increased.With each revision came increased bondholder support, yet this support was utmost short of either the two-thirds majority (as required in Chapter 11 restructuring cases) or the 95 percent acceptance rate dictated by Ito-Yokado, As revisions were submitted, the expiration dates of the debt restructuring and stock purchase by Ito- Yokado were extended. On July 16, a bondholder filed jibe against Southland for failure to pay interest on June 15, because on July 15 Southlands grace period had expired. By September 12, a majority of bondholders had tendered their notes. This majority was still far short, however, of the 95 percent swap requirement dictated by Ito-Yokado. The deadlines were extended to September 25 for both the debt swap offer by Southland and the stock purchase offer by Ito-Yokado. As Southland was apparently headed for involuntary bankruptcy filing under Chapter 11, the proposal again seemed in jeopardy. Acceptance of the Proposed Buyout The deadline for Southlands debt swap offer was again extended. Bondholder approval was finally obtained in late October.Ito-Yokados offer to buyout Southland was extended to March 15, 1991, pending court approval of the prepacked bankruptcy dea1. The bankrup tcy-court petition for approval of the prepackaged debt restructuring was filed on October 24,1990. Although Southland did not have sufficient bondholder approval as dictated by Ito-Yokado, the bankruptcy court proceedings were swift. The last few bondholders who held out were placated in January when the Thompsons relinquished warrants for half of their 5 percent stake of Southlands stock. On February 21, 1991, the U. S. ankruptcy court in Dallas approved the reorganization of Southland.? At that time, at least 93 per- cent of the holders of each class of debt issued by Southland had approved the reorganization. On March 5, 1991, Ito-Yokado purchased 71 percent of Southlands stock for $430 million. Two-thirds of this stock was purchased by 7-Eleven Japan, and the other third purchased directly by Ito-Yokado. The terms of the accepted debt-restructuring agreement between Southland and its bondholders are shown in Exhibit 13. THE CONVENIENCE STORE INDUSTRY IN THE UNITED STATESThe co nvenience store industry in the United States changed dramatically during the decade of the 1980s. The number of convenience stores in the United States, the gross sales of these stores, and the gross margins all increased during this time period. The net income of convenience stores, however, decreased significantly. This outcome was largely the result of the rapid expansion of several chains of convenience stores and the increased number of convenience stores opened by oil companies. Aggregate Measures of the Industry The number of convenience stores grew from about 39,000 in 1982 to more than 70,000 in 1989.From 1985 to 1989, industry sales increased from $51. 4 billion to $67. 7 billion, an increase of 6. 3 percent per year. Gross margins increased from 22. 8 percent in 1985 to 26. 2 percent by 1988. Despite such growth, convenience store operations experienced a decrease in net profit in the late 1980s. The total industry pretax profit peaked in 1986 at $1. 4 billion, fell to $ 1. 16 billion in 1988, and plummeted to $271 million in 1989. Some trends are shown in Exhibit 14. The expansion of convenience stores in the 1980s was led by large convenience store chains and oil companies.In addition to the growth experienced by the Southland Corporations 7-Eleven, Circle-K, a Phoenix-based convenience store chain, grow from 1,200 stores in 1980 to 4,700 stores in 1990. The Role of the Oil Companies The impact of oil companies on the convenience store industry had been significant. Virtually all of the major U. S. oil companies began compounding convenience store operations with gasoline stations in order to boost profits. In 1984, Exxon opened its first combination convenience store and gas station. By 1989, it had 500.Texaco operated 950Food Marts in the same year. From 1984 to 1989, the number of convenience stores operated by oil companies increased from 16,000 to 30,000. Gasoline sold at a lower margin (about 6 percent in 1984) than nongasoline convenience store products (32 percent in the same year), so the sale of convenience store items presented an opportunity for those gas stations with good locations (i. e. , street comers) to increase profits. In order to capitalize on the potential for higher profits in retailing, the major oil companies boosted their marketing expenditures.In 1979, the petroleum industry spent about $2. 2 billion for their marketing efforts. By 1988, these expenditures were almost $5 billion. The convenience stores operated by oil companies were growing in both number and size. In 1986, only about 20 percent of the oil company convenience stores were 1,800 or more square feet in size (the size of about 90 percent of traditional convenience stores). By 1990, however, more than 50 percent of the oil company convenience stores were between 1,800 and 3,000 square feet in size. ? swap Trends for Convenience StoresBecause of the intensified retailing efforts of oil companies and large convenience store chains, so me trends (other than those mentioned previously) evolved. In 1985, gasoline accounted for 35. 4 percent of convenience store sales. By 1989, gasoline accounted for 40 percent of sales. The gross profit margin for gasoline sales had increased from 7. 3 per- cent to 11. 7 percent more than the same period. ? Of the 61,000 convenience stores in the United States in 1985,55 percent sold gasoline, and in 1989, 65 percent of 70,200 convenience stores sold gasoline.In 1989, 75 percent of the new convenience stores built were equipped to sell gasoline. Although gasoline sales and margins became an increasingly significant contributor to convenience store revenues, contributions of revenue from other merchandise stagnated. In 1985, merchandise (other than gasoline) sales for the convenience store industry amounted to $33. 2 billion. In 1,989, sales reached $40. 6 billion. This increase in merchandise sales, however, was offset by the large number of store openings. In 1985, the average y early merchandise sales per store was $544,000.This number increased to only $578,000 in 1989. THE SETTING While flying from Japan to the United States, Takahashi reflected on the success that both Ito-Yokado and 7-Eleven Japan had enjoyed over the course of many years. These achievements were the result of long-term strategies that were carefully tailored to the Japanese market. Could these same, or similar, strategies be the foundation for making Southland financially successful again? He realized that the convenience store industry in the United States was vastly different from that of Japan.Nevertheless, he was confident that, through careful and thorough planning, the goal of making Southland profitable could be achieved. -11 pts if late (after 6pm of due date) and additional -5pts for each day thereafter for pocket late points of -26 pts. Lists the Strengths / Weaknesses/ Opportunities / Threats for the Ito-Yokado Company (total 10 pts) SWOT analysis. Strengths (list and brie fly discuss only 3) 1 pt each for total of 3 pts. SWOT, defined as the strength, weaknesses, opportunities and threats is an organisational tool used to analyze core competencies of a business.And like most businesses the Ito-Yokado Group consisting of three business segment (superstores and retail operations, restaurants operations, and convenience store operations) is no different. The strategies used to expand its operations Point of sale register, diversified portfolio, name(branding) and strategic location Weaknesses (list and briefly discuss only 2) 1 pt each for total of 2 pts Opportunities (list and briefly discuss only 2) 1 pt each for total of 2 pts The need for new ideas, real estates, the most vulnerable (younger generation) Threats (list and briefly discuss only 3) 1 pt each for total of 3 pts.The threats faced by the Ito-Yokado Group are competition from mom and pops store, decrease in disposable income and Large Store Restriction Acts. As discussed in the article, the Large Store Restriction Acts influence by rival competitors makes it challenging for the organization to cater to its consumer needs. The result is not only deprived customer, but decrease in revenue, as the laws restrict the size of the store, making it impossible to grow different medley in store products.Another threat is consumer income, the limited consumer income, means consumer has limited amount for discretionary spending. And last but not least is the competition from mom and pops stores. These types of small businesses despite their sizes can pose a real threat for large companies such as 7-Eleven, reason being, is the fact that they are improve known and root within the community. Essay questions to be answered in detail. (18 pts for each question for total of 90 pts) 1.What were some of the primary reasons for Ito-Yokados remarkable degree of success during the past several decades? Globalization in my opinion was one of the biggest factors in the company success. Tod ays market makes fierce competition therefore businesses no longer can afford to operate locally. In order for them to be successful, they must join the rest of the world in forming partnership through Joint Ventures, Franchising, Licensing, and Foreign Subsidiaries. While the advantages of ball-shapedization exist, it is not without its disadvantages.The transformation of a company from a local organization into a transnational organization is not an easy task mainly because of the various laws, time, efforts, and monetary investment that one must be able to shoulder before taking on such venture. The factors listed include, but are not limited to political stability, relationship between the two countries, licenses fees, market responsiveness, and the cost can determine the successfulness of a business. In addition, the careful planning and lead ability can also determine whether or not a business can make the transformation successfully.As a leader one of the primary goals is t o have a vision that can be communicated down the chain. And as demonstrated by Ito-Yokado, he clearly demonstrated his vision for the company by strategically expanding the companys operations into three different segment ranging from retail stores, restaurants chain and convenient stores. The result was a diversified portfolio with increase revenue. Another reason of success can be measured by the risk decision made by the companys leaders. With any operation whether personalised or professional, one must be willing to take isk, a risk in which the benefits outweigh the cost. Although the transformation from the Japanese market to the American was uncertain, because of factors such as consumer responsiveness, income, laws and applicable regulations, the decisions to invest into the various markets was worthwhile all because of proper planning and market response. The result was a successful Ito-Yokado group. 2. How did Ito-Yokados 7-Eleven Japan differ from Southlands 7-Eleven op erations during the 1980s? While the two shares the same name the difference in their operations where obvious.The 7-Eleven in Japan compared to that of Southland differ in their operation that is, the door-to-door parcel delivery by Nippon, the convenience of bill pay for its customers, faster growth opportunities through franchising. Because of the Large Store Restriction Act, the company was limited in growth to expand its physical location as a result, they resort to a smaller size stores strategically located in suburban areas. This venture was a deliberate marketing strategy used to penetrate the most vulnerable areas (suburbs) and fight off competitions brought on by the moms and pops stores.While the 7-Japan thrive in its operations of smaller stores with over 3000 items with point of sales register, their counterpart was not far behind. Under the leadership of John Thompson, the 7-Eleven in Southland were able to operate convenience stores with expanded products and service s including low cost gasoline, and prepared food. Despite troubles with the oil industry, the 7-Eleven of Southland was able to form a partner with Oil Company such as CITGO and largest ice producer Reddy Ice. The result was a perfect union that brought about increase revenues.The union however, was short lived, as the company profit plummeted and had to file for bankruptcy. 3. What are Ito-Yokado and Z-Eleven Japan getting for their $430 million? 4. What is your prognosis for Southland under Ito-Yokado ownership? Will Ito-Yokado be successful? Based on the article, it is apparent the management and leadership of Ito-Yokado Group are making the right decisions and stirring the company in the right direction. This is evident through it increase franchising of stores and increase revenue. While the Group might be successful in Japan, areful consideration must be given to the market in the United States. As noted in the reading, the Southland Group under the leadership of John Thompson has had its share of misfortune mainly because of the oil industry. The fall in oil prices and volatility of the market resulted in loss of profit and buyout. While the venture of acquiring Southland Group, Ito-Yokado, must ensure it does it homework, with proper study of the US market. They must also, realize that the US market is one of capitalism with fierce competition.Unlike Japan, there are no such rules as the Large Store Restriction Act, as long as the proper conditions are met with the right paperwork, a business can expand as necessary. Another determining factor is the need for the product. yes the idea to expand is great However, is it cost effective or will the company be better off 5. Is 1to-Yokado a global company? Explain your answer. The answer whether Ito-Yokado was a global company would be yes based on the fact that the company operate in more than one country with various subsidiaries.Ito-Yokado, will be consider Multinational Corporation simply because the ope ration and production of its products and services were through with(p) both in the United States and Japan. In addition the trading of its stocks was offered on both the NYSE, and the Japanese trading markets, thereby influencing the economy of both nations. Another classic factor is the fact that nowadays, globalization makes it almost impossible for businesses to operate locally. For this reason they must be willing and able to compete on a global stage with numerous