Elizabeth Catlet Essay Example | Topics and Well Written Essays - 250 words

Elizabeth Catlet - Essay Example Catlett was conceived during World War One, and before long developed to turn into a main instructor and craftsman of African American plunge. As a result of this explanation, she was occupied with a great deal of political activism, and even utilized her specialty to censure political frameworks. She got a great deal of reactions, and ended up in a tough situation thus. She utilized her craft as a stage to communicate her political conclusions, activism, and general emotions (Rosenberg 1). Catlett is known to have made a lot of fills in as a stone worker and printmaker. A portion of her best prints incorporate the Sharecropper, Malcolm X represents us, Dancing figure, Black lady talks, and the Singing head among others. Her models got showed in various outside areas, for example, Washington D. C., Mississippi, and Mexico. Her printmaking was significant in reminding individuals that print was a standout amongst other open craftsmanship mediums, since it was cheap and simple to make as huge versions as required. Catlett was focused on uncovering dark feel through her models and prints. She figured out how to enable and rouse dark watchers and specialists. She was enthusiastic about making individuals of color discover importance in open craftsmanship, in order to give them a workmanship to relate to, and urge them to investigate exhibitions and historical centers (Rosenberg 1). Rosenberg, K. â€Å"Elizabeth Catlett, Sculptor with Eye on Social Issues, Is Dead at 96.† The New York Times 3 Apr. 2012. Web.

Consensual Relationship Agreement Essay

Dynamic As associations recognize the presence of work place sentiments, the utilization of consensual relationship understandings (CRAs) has become a territory of conversation. While a large number of today’s associations restrict the sentimental inclusion of its representatives with each other, there are different organizations that have received the utilization of consensual relationship understandings. In spite of the fact that businesses discover the CRAs a simple answer for this circumstance, the workers impractically included, representatives are against the understanding, contending that the agreement is meddlesome in their own lives. They go further on their contentions, expressing that the understanding is an attack of their protection, and that the record conflicts with some moral standards. From the Human Resources experts point of view, they will attempt their best to ensure representatives and business concur with the agreement and are content with the circumstance, so a negative impact don't affect different colleagues, and their exhibitions won't influence their employments. 1. Pundits of CRAs declare that they are excessively nosy, inadequate, and pointless and that they can cause the same number of issues as they explain. Distinguish the particular reasons and models that may legitimize these reactions. Pundits are depending on the worry for-others rules that emphasis on â€Å"the need to consider choices and practices from the viewpoint of those affected†, which for this situation, are the workers who consent to the Consensual Relationship Arrangements. Representatives who are impractically included at work and are approached to consent to the arrangement, may consider getting into their own life excessively meddlesome. Advising a business regarding a relationship ought to be a choice made based by the two gatherings included, and not forced. CRAs can be ineffectual on the grounds that considerably subsequent to consenting to the arrangement, a representative might be discontent with the attack of security, and as indicated by the Human Resourc e Management, on their Workplace Romance Poll led in 2009, they found that: â€Å" Our experience was if an organization attempted to disallow it, more individuals began dating for the excitement of it† (Hellriegel and Slocum, 2011). In view of that, when workers impractically included can't help contradicting the approaches of the agreement, they will in general act against the agreement’s strategies. So as to stay away from a break of the understanding, the arrangement should plainly distinguish who is secured, and clarify that the agreement works for each of the three gatherings included. Some HR supervisors likewise contend that even with the terms in the agreement being plainly and thorough, that won't make the couple demonstration expertly while at work and numerous different impacts of work environment sentiment, and along these lines, they group as inadequate. The agreements become undesirable for example, when representatives can't help contradicting such arrangement. They would prefer not to be unreasonably observed. On the off chance that a representative feels that the CRAs are excessively prohibitive and that he/she is being dealt with unreasonably, issues in spirit, inspiration, and efficiency are probably going to happen. So as to keep efficiency and stay away from an unfriendly workplace, the utilization of the understanding isn't basic, as long as the principles of lead in the work environment are indicated. 2. How might you evaluate the moral force of CRAs from the point of view of the business? From the point of view of the representatives in a consensual relationship? From the planned of the business, the CRAs are extremely vital. Since hands on connections are probably going to occur, it is a great idea to have an approach set up to address gives that may potentially emerge from hands on connections. The understanding likewise shields the organization from being sued by representatives in light of inappropriate behavior or preference, and makes a plainly comprehension of appropriately proficient work environment conduct expected, so as to keep up a decent workplace for all. As per an article written in the May 2010 issue of Ceridian Connection â€Å"Any workplace presents the open door for people with comparative enthusiasm to build up a relationship that is more than friendly.† The article proceeds to express that as per a 2009 study led via CareerBuilder.com, 40 percent of r espondents demonstrated that they have dated associates; and 18 percent said they have been engaged with at least two work environment sentiments. Since is unavoidable the sentiment in the work environment, numerous HR experts attempt to adjust interests for the two gatherings included: â€Å"Most managers understand that it’s impulsive to attempt to boycott all office sentiments. Be that as it may, they are extremely keen on keeping these connections from negatively affecting the workplace† (Jones, May 2011). From the forthcoming of the representative, consenting to an arrangement dependent on their own relationship with a colleague might be meddling and regularly, they want to keep the relationship hidden. Now and then when representatives sign the CRA they have the impression of their bosses and colleagues keeping an additional eyes on them to safeguard that they are not breaking the approach. That at long last could occupy the worker from playing out the activity to their best capacity and ponder his/her general execution. 3. What explicit moral standards may be utilized to legitimize the utilization of CRAs? Clarify. The standards used to legitimize the utilization of CRA would be Organization Interest Principle and the Professional Standards Principle. The Organization Interested Principle depends on â€Å"you follow up on premise of what is useful for the organization† (Hellriegel and Slocum 2011). This standard is utilized on this circumstance where the business anticipate a potential issue and force a strategy (CRA) to keep that issue from influencing the organization. This can spare time, cash, and issues over the long haul. The moral predicament for CRAs rotates around the moral guideline of Professional Standards Principle, where the business is adjusting the privileges of the individual and the necessities and privileges of different workers. Most businesses need to guarantee a sensible level of worker security; in any case, there is wide agreement that businesses must ensure against the activities of representatives who send annoying messages, reveal individual data, or invest an excess of energy riding the Internet for individual use. Along these lines, the CRA for this situation, is utilized to examine appropriately proficient working environment conduct, to remind representatives that they don't have a legitimate right of security as per the no-badgering strategy, and furthermore lessen the danger of provocation prosecution. 4. What moral standards may be utilized by workers in consensual connections to contradict consenting to such an arrangement? Clarify. The â€Å"Hedonist Principle† and the â€Å"Golden Rule Principle† could be utilized as a counter contention by the workers that are against the CRAs, in light of the fact that it would cultivate sentiments of treachery for the representatives in consensual connections. The Hedonist Principle depends on â€Å" You do whatever is in your own self-interest† (Hellriegel and Slocum 2011). The workers engaged with this circumstance can gripe that the representative is just embedding the understanding in light of dread of being sued, and not taking in thought their own lives. Besides, they can contend utilizing the rule that the business is acting just for his advantage and that they feel the CRAs are unreasonable, nosy and out of line. Utilizing a similar point of view, the Golden Rule Principle, which comprises in â€Å" You follow up based on putting yourself in the situation of somebody influenced by the choice and attempt to decide how that individual would feel† (Hellriegel and Slocum 2011), can legitimize that the business is misinterpreting their moral work dependent on the vibe that dating has nothing to do with the nature of an employee’s work and that professional stability and headway ought to be founded on the work itself. As indicated by Randy Sutton on his distribution Regulating Workplace Romances, â€Å"Any â€Å"no dating† arrangement should likewise consider whether the approach will burden certain employees†, so the representatives included have no negative effect on their profession. 5. Do you by and by support or contradict the utilization CRAs in the work environment? Clarify. As I would like to think, the utilization of Consensual Relationship Agreements in the wor k environment is exceptionally fundamental and successful. As expressed for the situation, office sentiment will undoubtedly occur on the off chance that you set up people in a 40 or more hours out of every week. Almost 50% of certain representatives detailed that they didn’t know whether their organization had an arrangement on office sentiments. I figure each worker should act in an expert way, yet shockingly, an organization can't depend on the expectation that they will. A Consensual Relationship Agreement is an understanding between both the worker and the executives that gives that the representative won't permit the relationship to meddle with or sway the workplace. This understanding likewise affirms and records that the relationship is consensual and deliberate. All representatives need to have an away from of badgering. In the event that the CRA is done effectively, the record will secure all gatherings required of future allegations of inappropriate behavior, partiality or shamefulness. Imprint Gomsak in his distribution recommends that the organization take the accompanying methodology: actualize far reaching approaches for sentiment in the work environment, Forbid Romance Between Boss and Subordinate, apply the purported love contracts, and stay away from preference (January 2011). From the planned of the representatives impractically included, they may locate somewhat meddling in their own lives, yet then again, if the relationship reaches a conclusion, the understanding will make sure about that they have acted by the arrangement and not letting their own lives meddle in the working environment. In this way, if the representatives demonstration morally, in any event, when they have a sentiment in the work environment, at that point the understanding would not be an issue, it would just demonstrate that the worker is equipped for being straightforward and

How to Write a Good Book Report

How to Write a Good Book Report Learn How to Write a Good Book Report For Any University or College Class Learn How to Write a Good Book Report For Any University or College Class Let’s face it. You’ve probably been writing book reports since elementary school. But learning how to write a good book report for college or university is an entirely different ball game. When you were in elementary school, the book reports you wrote were most likely about youth fiction, such as E.B. White’s Charlotte’s Web. But in post-secondary, you’re going to be writing about more complex novels or even nonfiction textbooks. The rubric will be a lot more complex as well, so you want to make sure you’re getting it right when it comes to your book report. Need some help? That’s what we’re here for. We’re giving you our top tips for learning how to write a book report. Follow these, and we promise the reward will pay off. What is a Book Report? In order to learn how to write a good book report, you need to understand what exactly it is you’re doing. So, we’re going to start with the basics. What exactly is a book report? A book report, or a book summary, is essentially an analysis of the contents of a book. You’re writing it to show that you fully understood the book. According to the Purdue Writing Lab, your book report should be an informative, objective report discussing the book. Sounds simple enough. But why am I still doing this in university? This is a question you may be asking yourself as you sit down and try to start this paper. It’s a good question, as you probably thought you were done with book reports once you got to university. But book reports provide a lot of value to your studies, no matter what type of program you’re in. While they often take a more complex form than the typical book reports you did in elementary or high school, a university or college book report is a way for your professor to review your analytical skills. Writing a book report shows that you understand elements such as contexts, imagery, literary devices, and how they’re used in practice. It also shows that you can identify various concepts and themes within a work of either fiction or nonfiction. This is important because it’s used as an indicator as to whether you’ve really absorbed the course material, and shows your academic growth within that course or your overall program. The Difference Between a Book Report and a Book Review It’s important to note that we’re talking about a book report here, which is not to be confused with a book review. These are two different things, and understanding what you’re being asked to write will prevent you from making avoidable mistakes (and losing marks). If you’re assigned a book report, make sure you actually hand in a book report and not a book review talking about why this is your favorite book ever. As we mentioned above, a book report is an analysis or exploration of a book, or the themes within a book. Its purpose is to show that you understood the context of the book, and it serves as an objective summary. You’re not talking about how much you loved the book or why you don’t like a certain character. Instead, you’re providing a summarized analysis of the author’s work without your personal point of view. Meanwhile, a book review is an evaluation or critical assessment of the book. In a book review, you’d address the value of the book and your own point of view. Would you recommend this book to your friends or classmates? Explain why or why not. If you didn’t like a specific element or you thought it was a waste of time, this is where you’d discuss that. So, now that you know what you’re doing, it’s time to actually learn how to write a compelling book report. View this post on Instagram ???? It is easy to get caught up in excitement and nervousness during the beginning of a new semester. Be smart and take good notes! Take a look at our blog post for tips for good note taking (link in bio)! A post shared by Homework Help Global (@homeworkhelpglobal) on Jan 10, 2019 at 12:17pm PST Before You Start Reading If you haven’t read the book yet, take notes while you read. Even if you’ve already read the book, it’s a good idea to quickly go through and give yourself a refresher while jotting down highlights. This will be a major help when you start writing your book report because you’ll have the information in front of you instead of having to flip through the book every single time you need to find something. Use the note-taking techniques you would use in class and apply them while you’re reading. Oxford Learning Center recommends a few different note taking methods tailored to your own learning style. Choose something that works for you and use it. While you’re reading, look out for vocabulary words, metaphors, and literary devices such as imagery and symbolism. Pay attention to the author’s writing style. Highlight (or jot down) anything you don’t understand, or any terms you think are important that you want to look up later on. If you’re having trouble with this, try using the Feynman Method. Essentially, you take a subject you’re not familiar with, and write down everything you know about it in simple terms, as if you’re teaching it to a child. From there, you can add more research as you go on and learn to simplify it. The best way to show that you truly understand a subject is when you’re able to explain it to someone in the most condensed way. How to Write a Good Book Report: Fiction While your assignments can adapt a lot of the same techniques and styles, your book report is going to be a little different when it comes to fiction and nonfiction material. Let’s start with fiction. Here’s what you need to know. Fiction book reports usually include a discussion of various elements, literary devices, and techniques including (but not limited to): ? Plot ? Imagery ? Symbolism ? Theme ? Characters ? Setting ? Narrative format Sometimes that book report is based entirely around the use of one of those elements (for example, you could write an entire paper about the use of nature imagery in Mary Shelley’s Frankenstein). But when you’re going for a more broad or general approach, it’s best to try to go over as many of these elements as possible as long as it makes sense in terms of paper length and topic. I Watched The Movie Instead of Reading the Book. That’s Good Enough For my Book Report, Right? Wrong. Contrary to what you may believe, your professor can tell when you didn’t read the book. If you leave your book report to the last minute and just watch the movie the night before it’s due, you’ll be in for a shock when you get your mark back. One of the key reasons you need to learn different tips on writing a good book report is to showcase that you understand the literary devices the author is using and what you can take away from them. You can’t do that if you’re just watching the movie, because you can’t see literary devices like symbolism in the same way you do when you read the book. Another major problem with using the movie for your book report is within the summary itself. As we all know, movies often tend to leave out various elements of the book, even if they’re important to the story or make the story more understandable. The Harry Potter franchise is a great example of this, as many elements are left out from the films simply because they needed to condense them. It’s hard to take large, detailed, complex works of fiction and pick and choose what gets shown in a two hour time span. Sometimes a movie adaptation may even change the ending entirely, and you’d never realize that if you didn’t read the book. That’s a big risk to take for your book report, especially if it’s worth a heavy percentage of your overall grade. This is also an issue if you’re writing your book report on a nonfiction book. For example, if you’re writing about a nonfiction book showcasing the use of airplane technology in World War II, you may assume that this information is all history, so it’s common knowledge among many historians, and proceed to look it up on the Internet. However, when historians write books about events that happened, they often include their own point of view or their specific arguments, adding a fresh new perspective on the topic. So, your historian writing about airplanes in World War II may be arguing about a specific impact of this technology and connecting it with something else, which you’d miss in your book report if you didn’t actually read the book. View this post on Instagram ???? Learn how to write an effective essay in Episode 9 of The Homework Help Show (link in bio!) #HHG #Sundaymemes A post shared by Homework Help Global (@homeworkhelpglobal) on Feb 8, 2019 at 9:05am PST How to Write a Good Book Report: Nonfiction Nonfiction book reports can be a little more difficult because you don’t have fictional plots, images, or characters to work with. But you do have a thesis statement, supporting arguments, research, and details. Similar to what you would do when writing an article summary, a nonfiction book report focuses on the evidence, arguments, and rhetoric the author uses. Consider the author’s objective, and whether they have done an effective job at reaching that objective. In other words, are you convinced? Why or why not? Additionally, consider what contributions this author is making to the field of research or industry. Here are some potential elements to consider for your nonfiction book report: ? The author’s point of view: What is their main argument or thesis statement? ? Evidence and sources used: Are they reliable? What types of sources are used (primary or secondary)? ? Use of rhetoric: How does the author craft their argument to make it appealing and believable to the reader? ? If it’s a research study, how do the results reflect the author’s hypothesis? ? What new information does the author bring to the table? This is particularly important for books about historical events, popular works of fiction, or other themes that are considered to be common knowledge. For more information, take a look at our blog on writing an article summary for a detailed, step-by-step guide through this writing process. You can easily adapt our top tips for article summaries to use in your nonfiction book report if you need some more guidance. Understand What You’re Writing There are generally three different types of book reports out there. When learning how to write a good book review, it’s essential to understand what you’re writing and which direction you’re going to go. ? Character analysis: A character analysis is a focused exploration of one or a few specific characters in the book. You could talk about how this character follows the hero’s journey, a fatal flaw they may have, or even the purpose of their existence in the story (ideal for non-protagonist characters). ? Theme analysis: When you write a theme analysis, you will explore one or a few specific themes that are central to the work. For example, you could write a theme analysis of madness in William Shakespeare’s Macbeth or racial prejudice in Harper Lee’s To Kill a Mockingbird. When writing a theme analysis, make sure that the theme you choose isn’t too broad and that you can back it up with examples and quotations from the text. ? Plot summary: In a plot summary, you are providing a close analysis of the specific plot of the book itself. Usually, you’d want to relate the plot in terms of its context. Anyone can google the plot summary of a book, so your job is to dig deeper and analyse the story. Where to Start: The Book Report Outline Now that you know what kind of book reports there are, let’s get down to business. Start by making a book report outline. Your outline will help guide the paper and keep your writing consistent, organized, and easy to read. Not only that, but starting with an outline makes the entire writing process easier. You’ll know exactly what type of information to include, what quotations to look for, and how to structure the paper. You’re likely familiar with the typical essay structure: introductory paragraph, body paragraphs, and conclusion. Well, this structure is ideal for your book report format, too. The introductory paragraph is your way of introducing your reader to your paper and explaining what you’re going to be talking about. Like most introductions, yours should begin with a catchy hook, and move in the typical essay triangle formation start with general information, then narrow down to details until you reach your thesis. After your hook, write a few sentences with basic book details, starting with the author and the title, and then the setting, time period, or other contextual information. For more of our top tips on writing an essay introduction, check out Episode 69 of The Homework Help Show. Each body paragraph should focus on one specific topic, theme, or supporting argument. Start the paragraph with an opening statement, provide evidence, explain your position, and then include a closing statement that transitions to the next paragraph. In the conclusion of your book report, restate your thesis and then include a summary of your arguments in a few sentences. Then, you want to reflect on why this topic is important. Does it tie in with the theme of your course? Why should your reader care about this topic? Don’t present any new information or arguments, but be reflective and think outside the box. So, now that you know how to write a good book report outline, it’s time to start writing. The Anatomy of a Great Book Report Here are some things you should consider when learning how to write a solid book report. We’re going to break this down for you so that you don’t miss out on any of the important parts of your assignment. A Plot Summary Your plot summary should be a brief retelling of the main storyline. It’s best to assume that your reader hasn’t read the book, even if everyone in the class is writing about the same one. Sometimes a professor will ask for the plot summary in the introductory paragraph, but most of the time this can be its own body paragraph. It’s important to keep this summary brief and to the point. Your reader doesn’t need to know every single detail. But they do need to know the important points that connect the story, and they need to have an idea of what you’re talking about throughout your paper. They also need to know who specific characters are if you’re going to be talking about them later on, so you can introduce those characters briefly in the summary section. Citations and Quotations When using quotations from the book, make sure you offer an explanation every time you cite something. You need to show the connection between the quote and the theme or point you’re making. This is how you demonstrate that you truly understand the material and you’re not just throwing in quotes wherever they fit. Even if your teacher doesn’t specifically ask for quotations, you should always include at least a few of them, and make sure you cite the author properly. Formatting Would it surprise you to know that most students struggle with formatting their assignments? Be careful when making your bibliography or works cited page. These are marks you could lose that can easily be avoided with a basic Google search to make sure you’re doing it right. If your professor doesn’t give you a specific format to use for your book report, stick to MLA, which is the most common formatting style for English and humanities essays. Questions to Guide Your Book Report Here are some questions to ask yourself while writing your book report. They will give you some understanding as to what specific details you should include and how you can contextualise the writing. ? What is the author’s point of view? ? Who is the intended audience? ? What contributions does this book make to the specific genre, historical time period, theme, or field of research? ? Is the author’s writing style clear and concise? ? Where and when does the story take place, and why is this important? When it comes to learning how to write a good book report, answering these questions is essential to your overall analysis. These answers will help you understand the point of the book and why you’re even writing this book report in the first place. What to do When You Hit a Snag in the Writing Process So you started writing your book report, and then you hit a wall, and now you can’t figure out how to get past that wall. It happens to the best of us. So in teaching you how to write a good book report, we’re also going to teach you what to do when you hit writer’s block along the way. Revising and editing is an essential part of the writing process. But you don’t always need to wait until you’re done to do this. Revising your writing before you’re finished is an effective way to pick up where you got stuck. Take a little break, and then come back to read over what you have written so far. Does it make sense? Where could you expand on your ideas? When all else fails, do a quick Google search to see what other people are saying about your book. This might give you a fresh new perspective to look at and some new ideas you may not have noticed before. However, do not copy this information directly or steal their words. Do your own research and connect it back to the book. Not Feeling it? We’re Here to Help. If you just can’t fathom sitting down and writing your book report, it’s time to bring in some help. An essay writing service can help you write your book report, or edit it for you to make sure you’re on the right track. Instead of trying to figure out how to write a good book report and then risking your mark, leave it to the professionals at Homework Help Global. We have an internal team of over 50 academic writers who have written plenty of book reports throughout their educational careers. When you don’t have the time or energy to handle your assignments, we’re here for you, and we’re more than capable of getting the job done in the highest quality possible. Get a free quote now to get connected with one of our top writers and we’ll get started on your book report.

6th Grade Math Word Problems with Answers

Math is all about problem-solving skills. Children should be involved in problem-solving activities every day. One of the best ways to help children learn math is to present them with a problem in which they have to devise their own strategies to find the solution(s). Even if theres only one correct solution, there can actually be more than one way to figure out how to solve a math problem. Children need to be given the opportunity to discover their own shortcuts and create out their own algorithms to determine the appropriate answer—or answers. In addition (no pun intended) they should also be able to justify the solution(s) they reach by explaining the choices they made to arrive at their answers. Students should be able to describe why their solutions work and how they know its the right solution. My favorite way to question children with regard to this is to ask them, How do you know? When they have to explain how they arrived at their answer, you immediately know the learning that has taken place and you can see the thought process they used to reach their conclusions. Math problems for sixth-grade students should be read to them. The following math word problems are specific for children in the sixth grade and are divided into the main math categories: Number Concepts, Patterns and Algebra, Geometry and Measurement, and Data Management and Probability. Patterns and Algebra Kellys classroom organized an e-Pal club. 11 people joined the club. Each of them sent an email to each of the members of the club. How many emails were actually sent? How do you know?Ticket sales for the bake sale were underway. Four people bought tickets on the first day of sales, twice as many people bought tickets on the second day, and each day after that, twice as many people bought tickets. How many tickets were sold after 16 days? Data Management and Probability Pet Parade: Mr. James has 14 pets: cats, dogs, and guinea pigs. What are all the possible pet combinations he could have?How many different types of pizza can you make with the following toppings: pepperoni, tomatoes, bacon, onions, and green peppers? Show your answer. Number Concepts Sam bought eight ball caps, one for each of her eight friends, for $8.95 each. The cashier charged her an additional $12.07 in sales tax. Sam left the store with only $6.28 in change. How much money did she start with? Geometry and Measurement Watch your favorite television show from beginning to end. Time each of the commercials and determine the percentage of commercial time for the entire duration of the show. Now, determine the percentage of time the actual show is on the air. What fraction do the commercials make up?Two squares are next to each other. One square has six times the length of the other square. How many times greater in area is the larger square? How do you know?

Theme Of A Fire By Jack London - 1376 Words

To Build a Fire Jack Thurman Prof Cole Bellamy Week 3 In To Build a Fire by Jack London, the setting plays a significant role throughout the entire short story. Jack London uses certain techniques to establish the atmosphere of the story. By introducing his readers to the setting, prepares them for a tone that is depressed and frightening. Isolated by an environment of frigid weather and doom, the author shows us how the main character of the story is completely unaware of his surroundings. The only world the man is truly accustomed to, is his own. Never being exposed to such a harsh climate, draws us to the conclusion that the environment is the determining factor of his survival, as well as his dog s too. Anything that the man and his dog comes into contact with, creates an anticipation for disaster in the story. London places a strong emphasis on the setting in the introduction to the story. Day had broken cold and grey, exceedingly cold and grey... He repeats these phrases to redefine to his readers the impact the setting has on the lives of the characters. The gloominess of the setting instills feelings in the man and the dog, of a constant battle with this world of depression they are in. Being given no sense of imagination, the man is only gifted with his practical knowledge. He therefore is shown to lack the experience and thought to adapt to the conditions encompassing him. Typically, man never wants to deal with the reality, especially when itShow MoreRelatedThe Theme Of A Fire By Jack London794 Words   |  4 Pages The theme â€Å"To Build a Fire† by Jack London, is about pride, which is shown by survival in the wilderness, taking advice, and inevitably death. Pride is a major part of survival, especially in environments such as in Yukon, Alaska. When advice is given to you, it’s meant to help you or to save your life. Sometimes you have to learn the hard way when you don’t listen to advice, such as did the main character in the Alaska extreme cold weather. Formatively, you have to ask yourself; will you liveRead MoreTheme Of A Fire By Jack Londons911 Words   |  4 Pageswe would not survive. In ‘To Build a Fire’ written by Jack Londons is a cautionary tale about a man with the lack of survival skills. The main character is introduced a in cold environment with no knowledge on how to survive in general. The shor t story embark on a journey with the idea of represents about the way we think in a dire situation. The opening scene establishes our main character’s inability or lack of care towards his own survival. ‘To Build a Fire’ begins with our main character, a manRead MoreMajor Theme in to Build a Fire by Jack London1360 Words   |  6 PagesMajor Themes Determinism The movement of naturalism was greatly influenced by the 19th-century ideas of Social Darwinism, which was in turn influenced by Charles Darwins theories on evolution. Social Darwinism applied to the human environment the evolutionary concept that natural environments alter an organisms biological makeup over time through natural selection. Social Darwinists and naturalists cited this as proof that organisms, including humans, do not have free will, but are shaped, orRead More The Existential Theme of London’s To Build A Fire Essay1311 Words   |  6 PagesThe Existential Theme of London’s â€Å"To Build A Fire  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚   Jack London’s short story, â€Å"To Build a Fire,† is the tragic tale of a man who decides to travel alone through the hostile environment of the Yukon in sub-freeing temperatures and falls victim to the unrelenting and unforgiving power of nature. During his journey, the man gets his feet wet as he falls through the ice into the water of a hot spring (London 122). Because of the severity of the cold, some â€Å"one hundred and seven degreesRead MoreJack London : An Oyster Pirate1204 Words   |  5 PagesJack London was born in 1876, and died in 1916. He was born in San Francisco, California, and was the son of Flora Wellman Chaney. When he was a child, he would sometimes living with the Prentisses. Mr. and Mrs. Prentisses were African Americans who served as London’s surrogate parents. When Jack turned 15, he sailed the San Francisco Bay as an oyster pirate. During his time on the water, London developed an alcohol problem, which would eventually become alcoholism. In 1894, London was arrested asRead More Jack Londons To Build a Fire Essay example1103 Words   |  5 PagesJack Londons To Build a Fire In his short story entitled To Build a Fire, Jack London portrays a bitter conflict between man and nature. The nature in this story is the harsh environment of the Yukon Trail. London chose to use nature as the antagonist, almost as a force working against the main character in his struggle for survival. 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Marketing Reserach Free Essays

Question â€Å"Marketing Research† Respond to the following: . -Of the marketing research tools identified in the textbook, evaluate those that would be most appropriate for a small business. Textbook=[Iacobucci, D. We will write a custom essay sample on Marketing Reserach or any similar topic only for you Order Now (2012). MM, 2nd Edition. Mason, Ohio: Cengage Learning] -When it comes to marketing research, speculate to the blunders that beginning marketers commonly make. Provide a rationale with your response. Answer :- Market research is an effective way to learn about potential customers, their opinions, habits, trends and future plans. It is used to determine the geographic area of a business and demographic characteristics of customers such as age, gender, income and educational level. Marketing research helps a firm identify and solve problems, identify and evaluate market opportunity and develop the effort needed to exploit it. Steps of the Marketing Research Process 1. Identify and Define the Problem/Opportunity – This is the first step in finding a solution; a poor diagnosis will lead to an ineffective solution. 2. Conduct a Preliminary Exploration – Confirming a rejection, the problem as stated by the decision maker is a crucial phase of the research project. In order to do this the researcher must talk to knowledgeable persons both inside and outside the firm. This often gives the researcher a new perspective on the problem. 3. Determine Research Objectives – The earlier steps have given the researcher a better understanding of the problem, and he or she can now begin to formulate hypothesis to fit it. Hypothesis are tentative explanations of a problem, formulated on the basis of weight and knowledge about the problem. The hypothesis may prove to be either right or wrong. 4. Determine Data Needs – Researcher use primary and secondary data. Primary data are originated and collected for a specific problem. They must be generated by original research through observation and/or inquiry. The advantage of such data is that they relate specifically to the problem at hand. In gathering them, new problem may be uncovered and the focus of the research project sharpened. The main disadvantages are the cost and time required to collect them. Secondary data already exist, they are historical data gathered by people either inside or outside the firm to meet their needs. If those needs are similar to the researcher’s needs secondary data can be useful. Although they are cheaper and faster to collect than primary data, their relevance, accuracy, credibility and timeliness must be established before they can be used. 5. Determine Data Sources – The major internal source of primary data is company personals, Retailers, wholesales, customers and competitors are important external sources of primary data. Knowing what primary data are needed gives an indication of who might have them. The major internal source of secondary data is company records. Libraries, trade associations and government publications are important external sources of secondary data. 6. Create the Research Design – The research design specifies the overall framework and the specific procedures for collecting and analyzing the data. This is the most important step in the research process. Research Design can be classified by function and by methodology. Functional Categories – (a). Exploratory Research. (b). Descriptive Research (c). Casual Research (d). Predictive Research. Methodological Research – (a). Historical (b) Survey (c) Experimental (d) Motivational 7. Collect the Data – Once the researcher has determined data needs, data sources, and the framework and procedures to collect and analyze them, the problem becomes one of searching for and securing data. In collecting data, the researcher implements the research design. For secondary data, a good understanding of internal and external sources is necessary. Primary data, however , must be collected through observation and inquiry. 8. Analyses Data and Convert to Information – The data that have been collected according to the research design must be analyzed and interpreted. This leads the researcher to either accept or reject the research hypothesis After coding and editing, data are analyzed. This involves descriptive responses, calculating averages etc. in order to convert raw data into an understandable form for the purpose of interpreting the data. Tabulation, for example, involves arranging the data in a table, graph, or other summery format to facilitate their interpretation. More sophisticated data analysis techniques may also be used as the research moves beyond the description of the data to sophisticated statistical analysis of them. Cross tabulation is often used to show how variable relates to another variable. 9. Communicate the Information – Communicating research findings to decision makers is a crucial step in a research project because the project will be a failure if the results are not communicated effectively. Among the criteria for judging the quality of a research report are completeness, organization, understandability, interest level, accuracy, clarity, conciseness include : specific sections of the report typically (a) Title page (b) Table of contents (c)Executive summery (d) Introduction (e) Body (f) Conclusions and recommendations and (g) Appendices. How to cite Marketing Reserach, Essay examples

WooCommerce Abandoned Cart Rate High 10 Tips to Lower Yours

Every time someone abandons a cart filled with products on your store, youre missing out on a potential sale. Thats why its essential to optimize your website as much as possible, in order to minimize WooCommerce abandoned cart rates. In this article, well go over ten ways do that, so lets get to it! WooCommerce abandoned cart rates in your store. After all, just lowering that percentage a bit can translate to major earnings.Ten ways to lower your WooCommerce abandoned cart rateTheres no single magic formula to reduce WooCommerce abandoned cart rates. What you need to do is focus on improving your stores overall experience,  and  make it easier for customers to purchase products. Here are 10 ways you can make that happen.1. Offer multiple payment gatewaysCredit cards are king when it comes to online payments. However, youve probably noticed that most major online stores accept multiple payment methods, and thats not a coincidence:According to a survey from Baymard, ~6% of shopper s abandon a cart because  there werent enough payment methods.By using more than one payment gateway, you give your customers options. That minimizes the chance that theyll decide not to go through with a purchase because you dont support the payment method they prefer.Out of the box, WooCommerce supports PayPal and Stripe payments, which is a great start. However, you can easily add more payment gateways to your store, such as Amazon Pay and Square.2. Send abandoned cart reminder emailsIf youre anything like us, sometimes you end up browsing online stores only to save products for later. Some people do this using a Favorite button, and others just save items in their shopping carts. You may even have been planning to make a purchase, but something distracted you before you could complete the process.You can try to minimize these situations in your store by sending abandoned cart reminder emails. We wrote a full guide a while ago about how to do this,  using the Abandoned Cart L ite plugin: Abandoned Cart Lite for WooCommerce Author(s): Tyche SoftwaresCurrent Version: 5.6Last Updated: October 16, 2019woocommerce-abandoned-cart.zip 84%Ratings 415,703Downloads WP 1.3+Requires In a nutshell, this plugin enables you to create customized abandoned cart emails and send them out automatically. That way, you might be able to get some people to come back for their WooCommerce abandoned cart!3. Simplify your stores checkout processThe more complex your stores checkout process is, the less likely people are to go through with it. To put it another way, theres no need to force your customers to fill out five pages of fields and forms just to make a purchase. Thats why Baymards survey also found that 26% of shoppers abandoned their carts because of a too long /complicated checkout process.And that statistic is why a lot of online stores add one-click purchase options, such as Amazon. With WooCommerce, you can narrow down your checkout process to a single page, u sing the aptly-named One Page Checkout plugin:With this tool, you can customize every aspect of your checkout process, and minimize it. If you want to read up on how to use it, check out the documentation.4. Display clear-cut pricing on your product pagesThere are few things as annoying as wanting to make an online purchase, only to discover a bunch of hidden fees during the checkout process. Plus, you have to keep in mind that not all people will be able to afford those extra fees. If they only find out about the  real  prices during the checkout process, youll see a lot more WooCommerce abandoned carts.This is actually the number one reason for cart abandonment, with a whopping 76% of shoppers abandoning their order because the extra costs were too high or they were unable to calculate the total order cost up front.The good news is that WooCommerce enables you to display a shipping calculator on your shopping cart, which prevents those ugly surprises:You can also configure shi pping zones, which are areas where specific delivery methods apply. Our advice is – be as specific as possible when it comes to shipping costs, so that customers wont be in for any surprises.5. Offer a comprehensive return policyKnowing that the place youre buying from offers a solid return policy can ease a lot of fears about making a purchase. The more money youre spending, the more critical return policies become.Ideally, your WooCommerce store should have a page dedicated to its return policy. Within that page, you can explain:Which items are eligible for returnHow long customers have to initiate product returnsWhether you get your money back, and howIts important to note that according to some studies, up to 30% of online purchases end in returns. Having a clear-cut return policy can help assuage peoples fears. You can create one from scratch, or you can use an online tool such as TermsFeed to get started quickly.6. Optimize your stores loading timesWe talk a lot about w ebsite performance, because its vital for user experience. Long loading times not only affect your bounce rate, but they can also dissuade people from buying at your store.Consider this scenario, for example. Someone is adding products to their cart, and they start the checkout process. However, the checkout page takes too long to load, or it returns errors. If that happens too often, youre going to see a lot of WooCommerce abandoned carts.The good news is that theres plenty you can do to improve WordPress and WooCommerce performance. That includes optimizing product images  and  using a Content Delivery Network (CDN).7. Set up exit-intent pop-upsAn exit-intent pop-up is a window that appears when a page detects that you want to leave. This is done by tracking your mouse movements, which can reveal your intent to close a page.You can use exit-intent pop-ups to your advantage in WooCommerce, by making offers customers cant refuse. For example, you might provide a coupon that enco urages them to stick around:The goal is to get visitors to re-think finalizing their purchases by sweetening the deal. Exit-intent pop-ups can increase conversion rates by a nice margin, so theyre worth trying out.8. Enable customers to check out as guestsIf you want people to buy something online, you need to make the process as painless as possible for them. Thats why we recommend using a simplified checkout process, which can include letting customers make purchases as guests.A lot of online stores require you to sign up before you can buy anything. They do this so they can save your information, but it can also dissuade customers from buying in the first place. In fact, 34% of shoppers abandon their cart because the site tried to force them to create an account, according to that Baymard survey.WooCommerce includes guest checkout functionality out of the box. You can enable this feature from the  WooCommerce Settings Accounts and Privacy  page:Keep in mind that by permitti ng guest checkout, you might increase sales, but you may miss out on email sign-ups. However, this can be worth it if your WooCommerce abandoned cart rates are high.9. Add notifications throughout the checkout processAs simple as your checkout process might be, it never hurts to add some extra instructions or notifications. That way, the customer always knows whats going on.For example, if your store offers free shipping for orders over a certain amount, you want to make sure buyers know that. To do that, you can include this information  within  their carts:This entices users into finalizing their purchases when they review their shopping carts. You can implement this and other types of notifications using the Cart Notices for WooCommerce plugin: Cart Notices for WooCommerce Author(s): WooCommerce Cart Author(s): XootiXCurrent Version: 1.0.2Last Updated: September 6, 2019side-cart-woocommerce.1.0.2.zip 96%Ratings 68,662Downloads 3.0.1Requires This plug-and-play tool makes it so that when users click on their shopping cart icons, a tab will slide open from the side, showing every item within. Plus, it enables you to add and style checkout Calls-to-Action (CTAs), which can help seal the deal.Lower your WooCommerce abandoned cart rate todayAbandoned shopping carts are a big problem for most online stores. Getting your WooCommerce abandoned cart rates down by even a fraction can increase your income a lot, depending on how many sales you make. You can do this by improving the customer experience, and making it simpler for visitors to make purchases. Free guide5 Essential Tips to Speed Up Your WordPress SiteReduce your loading time by even 50-80% just by following simple tips.

Estee Lauder Case 1 Analysis Essays

Estee Lauder Case 1 Analysis Essays Estee Lauder Case 1 Analysis Paper Estee Lauder Case 1 Analysis Paper Lauder| | Table of Contents Case Abstract3 Vision Statement Mission Statement4 Vision Statement:4 Mission Statement:4 External Audit5 Opportunities Threats5 Competitive Profile Matrix (CPM)6 External Factor Evaluation (EFE) Matrix7 Internal Audit8 Strengths Weakness8 Financial Ratio Analysis9 Internal Factor Evaluation (IFE) Matrix10 SWOT Matrix11 SPACE Matrix12 Internal External Matrix13 Recommendations14 Case Abstract The Estee Lauder Companies Inc. engages in the manufacture, marketing, and sale of skin care, makeup, fragrance, and hair care products worldwide. It offers skin care products, including moisturizers, creams, lotions, cleansers, sun screens, and self-tanning products; and makeup products, which consist of lipsticks, lip glosses, mascaras, foundations, eye shadows, nail polishes, and powders, as well as related items, such as compacts, brushes, and other makeup tools. The company provides its fragrances products in various forms, including sprays and colognes, lotions, powders, creams, and soaps. Its hair care products comprise hair color and styling products, shampoos, conditioners, and finishing sprays. The Estee Lauder Companies sells its products under the Estee Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, M A C, Bobbi Brown, La Mer, Aveda, Jo Malone, Bumble and bumble, Darphin, American Beauty, Flirt! , Good Skin, Grassroots, and Ojon brand names. It also operates as a licensee for fragrances and/or cosmetics sold under the Tommy Hilfiger, Kiton, Donna Karan, Michael Kors, Sean John, Missoni, Daisy Fuentes, Tom Ford, and Mustang brand names. The company sells its products through department stores, specialty retailers, upscale perfumeries, pharmacies, salons, and spas, as well as through company-owned stores, spas, and Web sites; authorized retailer Web sites; stores on cruise ships; in-flight and duty-free shops; and self-select outlets. The Estee Lauder Companies Inc. was founded in 1946 and is based in New York, New York. Vision Statement Mission Statement Vision Statement: Bringing the Best to Everybody We Touch Mission Statement: We are a family company committed to working together with uncompromising ethics and integrity. We strive to always: 1. Provide customers with innovative cosmetic products of the highest quality. 2. Deliver outstanding service by treating each individual as we ourselves would like to be treated. 3. Create an environment that fosters personal growth and well being. 4. Build partnership with our suppliers, retailers and colleagues based on fairness and trust. 5. Enhance our reputation of image, style and prestige. 6. Pursue profit, but never at the expense of quality, service or reputation. 7. Eliminate waste and reduce inefficiencies in order to provide maximum value to our customers. 8. Be responsible citizen in every community we serve. External Audit Opportunities Threats Opportunities 1. Expected growth in the personal products industry is fueled by rising demand from emerging and developing markets. 2. Optimization of brand portfolio. 3. Strengthening of global markets 4. Expansion of global markets 5. Diversification of distribution channel 6. The world’s aging population represents an increased investment in the cosmetic industry. | Threats 1. Domination of the Asian department store channel 2. Australia has a slower and difficult retail environment particularly in the fragrance category. 3. Unemployment rate increase will disable Americans to buy the high-end products 4. The use of aerosols fluorocarbons in products damaging the environment. 5. Animal testing for new products | Competitive Profile Matrix (CPM) Companies indentify strengths and weaknesses of current and potential competitors. This analysis provides both an offensive and defensive strategic context through which to identify opportunities and threats. Competitor profiling coalesces all of the relevant sources of competitor analysis into one framework in the support of efficient and effective strategy formulation, implementation, monitoring and adjustment. We used the same idea with Estee Lauder, L’Oreal, and Revlon. L’Oreal and Revlon is a real big competitor for Estee Lauder. Estee Lauder and L’Oreal perform above average on the CPM analysis. Revlon performed average compared how Estee Lauder and L’Oreal rated. | | Estee Lauder| L’Oreal| Revlon| Critical Success Factor| Weight| Rating| Score| Rating| Score| Rating| Score| Advertising| . 13| 3| . 39| 4| . 52| 4| . 52| Product Quality| . 12| 4| . 48| 4| . 48| 3| . 36| Price Competitiveness| . 10| 2| . 20| 4| . 28| 4| . 28| Management| . 12| 3| . 36| 2| . 4| 2| . 24| Financial Position| . 10| 3| . 30| 3| . 30| 3| . 30| Customer Loyalty| . 12| 3| . 36| 3| . 36| 3| . 36| Global Expansion| . 09| 4| . 36| 2| . 18| 2| . 18| Sales Distribution| . 08| 3| . 24| 3| . 24| 2| . 16| Manufacturing| . 07| 3| . 21| 3| . 21| 3| . 21| Research and Development| . 07| 2| . 14| 2| . 14| 2| . 14| Total:| 1. 00| | 3. 04| | 2. 95| | 2. 75| External Factor Evaluation (EFE) Ma trix An External Factor Evaluation (EFE) allows strategies to summaries and evaluate economic, social, and cultural factor through the uses of a numerical rating. In our case we evaluated the EFE of Estee Lauder. By numerically scaling Estee Lauder’s opportunities and threats we analyzed the importance of the programs they have to offer. First assigning each factor a weight of importance from 0. 0 to 1. 0, letting 0. 0 (least important) and 1. 0 (most important). Next we rated between 1 and 4 each key external factor to indicate how effective Estee Lauder structure. Finally multiplying the weight and the rating we got a score the show how effective each factor was. Key External Factors| Weight| Rating| Weighted Score| Opportunities| | | | 1. Expected growth in the personal products industry is fueled by rising demand from emerging and developing markets. | 0. 08| 2| 0. 16| 2. Optimization of brand portfolio. | 0. 10| 3| 0. 30| 3. Strengthening of global markets| 0. 10| 3| 0. 30| 4. Expansion of global markets| 0. 10| 3| 0. 30| 5. Diversification of distribution channel| 0. 09| 3| 0. 27| 6. The world’s aging population represents an increased investment in the cosmetic industry| 0. 08| 2| 0. 16| Threats| | | | 1. Domination of the Asian department store channel| 0. 09| 2| 0. 18| 2. Australia has a slower and difficult retail environment in the fragrance category| 0. 9| 2| 0. 18| 3. Unemployment rate increase will disable Americans to buy the high end product. | 0. 13| 4| 0. 52| 4. The use of aerosols and fluorocarbons with damaging the environment. | 0. 09| 2| 0. 18| 5. Animal testing for new products| 0. 05| 1| 0. 05| Total:| 1. 0| | 2. 60| Internal Audit Strengths Weakness Strengths 1. Sells products through ups cale department stores, specialty retailers, and prestige salons. 2. Has 26 brands, sells products over 130 countries a territories. 3. One of the first major cosmetic firms to offer online shopping. 4. Prestige pricing is an effective strategy given the target markets 5. First company to offer free samples and gift with purchase. 6. In 2006, the travel retail business comprised approximately 7% of total sales and 20% of operating income 7. First industry to introduce consistent brand imagery around the world 8. The company uses celebrities as endorsers in the testimonial advertising| Weakness 1. Does not sell at lower class retail outlets. 2. They do not put FDA warning labels on the products. 3. Increase in long term debt from 2006 to 2007 from 698. 2 million to 1,404. 7 million. | Financial Ratio Analysis The financial ratios are computed from both the income statement and balance sheet. Comparing ratios over time and used to industry averages is more likely to result in meaningful statistics that can be used to identify and evaluate strengths and weakness. Financial factors often alter existing strategies and change implementation plans. For Estee Lauder, we were only able to compute 4 of the financial ratios. The four financial ratios that we were able to compute were Return on Total Assets (ROA), Return on Equity, Net Profit Margin and Revenue per Share. The figures I used to compute the ratio’s came from the 2007 Financial Statements of Estee Lauder. Ratio| Calculation| | | 880. | . 587| | 1500. 7| | | 1383. 6| . 9219| | 1500. 7| | Return on investment = net before-tax profit / net worth| 711. 0| . 10| | 7037. 5| | ROA| 449. 3| . 1089| | 4125. 7| | Return on Equity = Net Income/Shareholders Equity| 449. 3| . 375| | 1199| | Revenues per Share = Revenues/ Shares Outstanding| 7037. 5| 32. 37| | 217. 4 shares| | Net Profit Margin = Net Earnings/Sales| 449. 3| . 064| | 7037. 5| | Internal Factor Evaluation (IFE) Matrix Internal Factor Evaluation is a strategic management tool for auditing or evaluating major strengths and weaknesses in functional areas of a business. IFE matrix also provides a basis for identifying and evaluating relationships among those areas. As for Estee Lauder their weaknesses were not as detrimental as their strength nor would they have a long term effect on Estee Lauder. Key Internal Factors| Weight| Rating| Weighted Score| Strengths| | | | 1. Sells products through upscale department stores, specialty retailers, and prestige salons. | 0. 09| 3| 0. 27| 2. Has 26 brands, sells products over 130 countries and territories| 0. 12| 4| 0. 48| 3. One of the first major cosmetics firms to offer online shopping. | 0. 11| 4| 0. 44| 4. Prestige pricing is an effective strategy given the target market. | 0. 11| 4| 0. 44| 5. First company to offer free samples and gift with purchase. | 0. 12| 4| 0. 48| 6. In 2006, the travel retail business comprised approximately 7% of total sales and 20% of operating income| 0. 10| 3| 0. 30| 7. First industry to introduce consistent brand imagery around the world| 0. 11| 4| 0. 44| 8. The company uses celebrities as endorsers in testimonial advertising. | 0. 12| 4| 0. 48| Weakness| | | | 1. Does not sell at lower class retail outlets . | 0. 04| 1| 0. 04| 2. They do not put FDA warning labels on the | 0. 4| 1| 0. 04| 3. Increase of long term debt from 2006 to 2007 from 698. 2 million to 1,404. 7 million| 0. 04| 1| 0. 04| Total:| 1. 0| | 3. 45| SWOT Matrix The SWOT Matrix helps visualize the analysis. Also, when executing this analysis it is important to understand how these elements work together. When an organization matched internal strengths to external opportunities, it creates c ore competencies in meeting the needs of its customers. In addition, an organization should act to convert internal weaknesses into strengths and external threats into opportunities. | Strengths 1. Sells products through upscale department stores, specialty retailers, and prestige salons. 2. One of the first major cosmetic firms to offer online shopping. 3. Prestige pricing is an effective strategy given the target markets 4. First company to offer free samples and gift with purchase. 5. In 2006, the travel retail business comprised approximately 7% of total sales and 20% of operating income 6. First industry to introduce consistent brand imagery around the world 7. The company uses celebrities as endorsers in the testimonial advertising| Weaknesses 1. Does not sell at lower class retail outlets. 2. They do not put FDA warning labels on the products. 3. Increase of long term debt from 2006 to 2007 from 698. 2 million to 1,404. 7 million. | Opportunities 1. Expected growth in the personal products industry will be fueled by the rising demand from emerging and developing markets. 2. Optimization of brand portfolio. 3. Strengthening of global markets 4. Expansion of global markets 5. Diversification of distribution channel| SO Strategies 1. (S5, S4, O2) Create more products. 2. (S1,O1,S3) Adding more online marketing to developing markets. | WO Strategies 1. (W3,O2) Add FDA warning labels to new products being developed. . (W4,O1) Decrease long term debt give opportunity to enter more global markets. | Threats 1. Domination of the Asian department store channel 2. Australia has a slower and difficult retail environment particularly in the fragrance category. 3. Unemployment rate increase will disable Americans to buy the high-end products 4. The use of aerosols fluorocarbons in pr oducts damaging the environment. 5. Animal testing for new products | ST Strategies 1. (T1, S3,S4) Use strategy of free samples and online retail to market into the Asian market. 2. (T2, S4) Give more free samples to Australian market to increase sales. . (S6, T5) Have advertising with celebrities expressing that products are not animal tested. | WT Strategies 1. (W2, T3) Sell to lower class retail chain stores such as Wal-Mart. 2. (W3, W4,W5) Add to label that products used are eco-friendly | SPACE Matrix The Strategic Position and Action Evaluation (SPACE) Matrix, is Stage 2 matching tools. Its four-quadrant framework indicates whether aggressive, conservative, defensive, or competitive strategies are most appropriate for a given organization. After constructing the SPACE Matrix for Estee Lauder, Estee Lauder will fall under an aggressive quadrant. Internal Strategic Position| External Strategic Position| Financial Strength (FS)Return on investment 5Leverage 5Liquidity 4Working Capital 5Cash Flow 6 Total: (25/5) 5| Environmental Stability (ES)Technological changes -1Rate of inflation -5Price range of competing products -4Competitive pressure -4 Total: (-14/4) -3. | Competitive Advantage (CA)Market Share -1Product quality -1Customer Loyalty -1Competition’s capacity utilization -5Control over suppliers and distributors -5Total: (-13/5) -2. 6| Industry Strength (IS)Growth Potential 6Profit potential 5Financial stability 4Total: (15/3) 5| X-axis: -2. 6+ (5) = 2. 4 FS Y-axis: -3. 5+ (5) = 1. 5 CA IS (2. 4, 1. 5) ES Internal External Matrix The Internal External Matrix positions Estee Lauders various divisions in this display shown. From the given information it is recommended that Estee Lauder Grow and maintain. This is based on the EFE IFE Score Averages of 2. 7 2. 5 respectively. They should involve the company in: Backward, Forward and Horizontal Integration, Market penetration, Market development, and Product development. The IFE Total Weighted Scores The EFE Total Weighted Scores 4 | 3 Strong| 2 Average| 1 Weak| 3 High| I| II| III| 2 Medium| IV| V| VI| 1 Low| VII| VIII| IX| Total Weighted EFE = 2. 7 Total Weighted IFE = 2. 5 Segments| $ Revenue| % Revenue| EFE Scores| IFE Scores| 1. Skin Care| $2,601,000| 37. 0%| 3| 3| 2. Makeup| 2,712,700| 38. 5%| 2. 5| 3| 3. Fragrance| 1,308,600| 18. 6%| 3| 2. 5| 4. Hair Care| 377,100| 5. 4%| 2. 0| 2. 0| 5. Other| 38,100| 0. 5%| 3| 2| Total| $7,037,500. 00| 100. 0%| 2. 7| 2. 5| Recommendations We recommend the follow for The Este lauder companies: 1. To respond to the economic crisis if Estee lauder finds new service solutions and ways of utilizing social media to address the consumers new mindset. 2. Come up with brands for lower and middle class consumers. 3. Estee lauder can give out complimentary make-up application classes and free facials to market products. 4. Create less expensive sizes of best selling products and use of discreet pricing at make-up counters. 5. Develop a recycling program for products by giving out discounts when consumers bring outdated and empty make-up containers. 6. Create limited edition products that appeal to the fashion conscious consumer. 7. Shift in preference of products to demographic and cultural regions on how consumers shop. 8. Foreign currency fluctuations affecting the Companys results of operations and the value of its foreign assets, the relative prices at which the Company and its foreign competitors will sell products in the same markets and the Companys operating and manufacturing costs outside of the United States. 9. Social, political and economic risks to the Companys foreign or domestic manufacturing, distribution and retail operations, including changes in foreign investment and trade policies and regulations of the host countries and of the United States. 10. Increased competitive activity from companies in the skin care, makeup, fragrance and hair care businesses, some of which have greater resources than the Company does. 11. The Companys ability to develop, produce and market new products on which future operating results may depend and to successfully address challenges in the Companys business. 12. Changes in product mix to products which are less profitable. Changes in global or local conditions, including those due to the volatility in the global equity markets, natural disasters, real or perceived epidemics, or energy costs, that could affect consumer purchasing, the willingness or ability of consumers to travel and/or purchase the products while traveling, the financial strength of the customers, suppliers or other contract counterparties, the Companys operations, the cost and availability of capital which the Company may need for new equipment, facilities or acquisitions, the returns that the Company is able to generate on its pension assets and the resulting impact on its funding obligations, the cost and availability of raw materials and the assumptions underlying the Companys critical accounting estimates.

Estee Lauder Case 1 Analysis Essays

Estee Lauder Case 1 Analysis Essays Estee Lauder Case 1 Analysis Paper Estee Lauder Case 1 Analysis Paper Lauder| | Table of Contents Case Abstract3 Vision Statement Mission Statement4 Vision Statement:4 Mission Statement:4 External Audit5 Opportunities Threats5 Competitive Profile Matrix (CPM)6 External Factor Evaluation (EFE) Matrix7 Internal Audit8 Strengths Weakness8 Financial Ratio Analysis9 Internal Factor Evaluation (IFE) Matrix10 SWOT Matrix11 SPACE Matrix12 Internal External Matrix13 Recommendations14 Case Abstract The Estee Lauder Companies Inc. engages in the manufacture, marketing, and sale of skin care, makeup, fragrance, and hair care products worldwide. It offers skin care products, including moisturizers, creams, lotions, cleansers, sun screens, and self-tanning products; and makeup products, which consist of lipsticks, lip glosses, mascaras, foundations, eye shadows, nail polishes, and powders, as well as related items, such as compacts, brushes, and other makeup tools. The company provides its fragrances products in various forms, including sprays and colognes, lotions, powders, creams, and soaps. Its hair care products comprise hair color and styling products, shampoos, conditioners, and finishing sprays. The Estee Lauder Companies sells its products under the Estee Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, M A C, Bobbi Brown, La Mer, Aveda, Jo Malone, Bumble and bumble, Darphin, American Beauty, Flirt! , Good Skin, Grassroots, and Ojon brand names. It also operates as a licensee for fragrances and/or cosmetics sold under the Tommy Hilfiger, Kiton, Donna Karan, Michael Kors, Sean John, Missoni, Daisy Fuentes, Tom Ford, and Mustang brand names. The company sells its products through department stores, specialty retailers, upscale perfumeries, pharmacies, salons, and spas, as well as through company-owned stores, spas, and Web sites; authorized retailer Web sites; stores on cruise ships; in-flight and duty-free shops; and self-select outlets. The Estee Lauder Companies Inc. was founded in 1946 and is based in New York, New York. Vision Statement Mission Statement Vision Statement: Bringing the Best to Everybody We Touch Mission Statement: We are a family company committed to working together with uncompromising ethics and integrity. We strive to always: 1. Provide customers with innovative cosmetic products of the highest quality. 2. Deliver outstanding service by treating each individual as we ourselves would like to be treated. 3. Create an environment that fosters personal growth and well being. 4. Build partnership with our suppliers, retailers and colleagues based on fairness and trust. 5. Enhance our reputation of image, style and prestige. 6. Pursue profit, but never at the expense of quality, service or reputation. 7. Eliminate waste and reduce inefficiencies in order to provide maximum value to our customers. 8. Be responsible citizen in every community we serve. External Audit Opportunities Threats Opportunities 1. Expected growth in the personal products industry is fueled by rising demand from emerging and developing markets. 2. Optimization of brand portfolio. 3. Strengthening of global markets 4. Expansion of global markets 5. Diversification of distribution channel 6. The world’s aging population represents an increased investment in the cosmetic industry. | Threats 1. Domination of the Asian department store channel 2. Australia has a slower and difficult retail environment particularly in the fragrance category. 3. Unemployment rate increase will disable Americans to buy the high-end products 4. The use of aerosols fluorocarbons in products damaging the environment. 5. Animal testing for new products | Competitive Profile Matrix (CPM) Companies indentify strengths and weaknesses of current and potential competitors. This analysis provides both an offensive and defensive strategic context through which to identify opportunities and threats. Competitor profiling coalesces all of the relevant sources of competitor analysis into one framework in the support of efficient and effective strategy formulation, implementation, monitoring and adjustment. We used the same idea with Estee Lauder, L’Oreal, and Revlon. L’Oreal and Revlon is a real big competitor for Estee Lauder. Estee Lauder and L’Oreal perform above average on the CPM analysis. Revlon performed average compared how Estee Lauder and L’Oreal rated. | | Estee Lauder| L’Oreal| Revlon| Critical Success Factor| Weight| Rating| Score| Rating| Score| Rating| Score| Advertising| . 13| 3| . 39| 4| . 52| 4| . 52| Product Quality| . 12| 4| . 48| 4| . 48| 3| . 36| Price Competitiveness| . 10| 2| . 20| 4| . 28| 4| . 28| Management| . 12| 3| . 36| 2| . 4| 2| . 24| Financial Position| . 10| 3| . 30| 3| . 30| 3| . 30| Customer Loyalty| . 12| 3| . 36| 3| . 36| 3| . 36| Global Expansion| . 09| 4| . 36| 2| . 18| 2| . 18| Sales Distribution| . 08| 3| . 24| 3| . 24| 2| . 16| Manufacturing| . 07| 3| . 21| 3| . 21| 3| . 21| Research and Development| . 07| 2| . 14| 2| . 14| 2| . 14| Total:| 1. 00| | 3. 04| | 2. 95| | 2. 75| External Factor Evaluation (EFE) Ma trix An External Factor Evaluation (EFE) allows strategies to summaries and evaluate economic, social, and cultural factor through the uses of a numerical rating. In our case we evaluated the EFE of Estee Lauder. By numerically scaling Estee Lauder’s opportunities and threats we analyzed the importance of the programs they have to offer. First assigning each factor a weight of importance from 0. 0 to 1. 0, letting 0. 0 (least important) and 1. 0 (most important). Next we rated between 1 and 4 each key external factor to indicate how effective Estee Lauder structure. Finally multiplying the weight and the rating we got a score the show how effective each factor was. Key External Factors| Weight| Rating| Weighted Score| Opportunities| | | | 1. Expected growth in the personal products industry is fueled by rising demand from emerging and developing markets. | 0. 08| 2| 0. 16| 2. Optimization of brand portfolio. | 0. 10| 3| 0. 30| 3. Strengthening of global markets| 0. 10| 3| 0. 30| 4. Expansion of global markets| 0. 10| 3| 0. 30| 5. Diversification of distribution channel| 0. 09| 3| 0. 27| 6. The world’s aging population represents an increased investment in the cosmetic industry| 0. 08| 2| 0. 16| Threats| | | | 1. Domination of the Asian department store channel| 0. 09| 2| 0. 18| 2. Australia has a slower and difficult retail environment in the fragrance category| 0. 9| 2| 0. 18| 3. Unemployment rate increase will disable Americans to buy the high end product. | 0. 13| 4| 0. 52| 4. The use of aerosols and fluorocarbons with damaging the environment. | 0. 09| 2| 0. 18| 5. Animal testing for new products| 0. 05| 1| 0. 05| Total:| 1. 0| | 2. 60| Internal Audit Strengths Weakness Strengths 1. Sells products through ups cale department stores, specialty retailers, and prestige salons. 2. Has 26 brands, sells products over 130 countries a territories. 3. One of the first major cosmetic firms to offer online shopping. 4. Prestige pricing is an effective strategy given the target markets 5. First company to offer free samples and gift with purchase. 6. In 2006, the travel retail business comprised approximately 7% of total sales and 20% of operating income 7. First industry to introduce consistent brand imagery around the world 8. The company uses celebrities as endorsers in the testimonial advertising| Weakness 1. Does not sell at lower class retail outlets. 2. They do not put FDA warning labels on the products. 3. Increase in long term debt from 2006 to 2007 from 698. 2 million to 1,404. 7 million. | Financial Ratio Analysis The financial ratios are computed from both the income statement and balance sheet. Comparing ratios over time and used to industry averages is more likely to result in meaningful statistics that can be used to identify and evaluate strengths and weakness. Financial factors often alter existing strategies and change implementation plans. For Estee Lauder, we were only able to compute 4 of the financial ratios. The four financial ratios that we were able to compute were Return on Total Assets (ROA), Return on Equity, Net Profit Margin and Revenue per Share. The figures I used to compute the ratio’s came from the 2007 Financial Statements of Estee Lauder. Ratio| Calculation| | | 880. | . 587| | 1500. 7| | | 1383. 6| . 9219| | 1500. 7| | Return on investment = net before-tax profit / net worth| 711. 0| . 10| | 7037. 5| | ROA| 449. 3| . 1089| | 4125. 7| | Return on Equity = Net Income/Shareholders Equity| 449. 3| . 375| | 1199| | Revenues per Share = Revenues/ Shares Outstanding| 7037. 5| 32. 37| | 217. 4 shares| | Net Profit Margin = Net Earnings/Sales| 449. 3| . 064| | 7037. 5| | Internal Factor Evaluation (IFE) Matrix Internal Factor Evaluation is a strategic management tool for auditing or evaluating major strengths and weaknesses in functional areas of a business. IFE matrix also provides a basis for identifying and evaluating relationships among those areas. As for Estee Lauder their weaknesses were not as detrimental as their strength nor would they have a long term effect on Estee Lauder. Key Internal Factors| Weight| Rating| Weighted Score| Strengths| | | | 1. Sells products through upscale department stores, specialty retailers, and prestige salons. | 0. 09| 3| 0. 27| 2. Has 26 brands, sells products over 130 countries and territories| 0. 12| 4| 0. 48| 3. One of the first major cosmetics firms to offer online shopping. | 0. 11| 4| 0. 44| 4. Prestige pricing is an effective strategy given the target market. | 0. 11| 4| 0. 44| 5. First company to offer free samples and gift with purchase. | 0. 12| 4| 0. 48| 6. In 2006, the travel retail business comprised approximately 7% of total sales and 20% of operating income| 0. 10| 3| 0. 30| 7. First industry to introduce consistent brand imagery around the world| 0. 11| 4| 0. 44| 8. The company uses celebrities as endorsers in testimonial advertising. | 0. 12| 4| 0. 48| Weakness| | | | 1. Does not sell at lower class retail outlets . | 0. 04| 1| 0. 04| 2. They do not put FDA warning labels on the | 0. 4| 1| 0. 04| 3. Increase of long term debt from 2006 to 2007 from 698. 2 million to 1,404. 7 million| 0. 04| 1| 0. 04| Total:| 1. 0| | 3. 45| SWOT Matrix The SWOT Matrix helps visualize the analysis. Also, when executing this analysis it is important to understand how these elements work together. When an organization matched internal strengths to external opportunities, it creates c ore competencies in meeting the needs of its customers. In addition, an organization should act to convert internal weaknesses into strengths and external threats into opportunities. | Strengths 1. Sells products through upscale department stores, specialty retailers, and prestige salons. 2. One of the first major cosmetic firms to offer online shopping. 3. Prestige pricing is an effective strategy given the target markets 4. First company to offer free samples and gift with purchase. 5. In 2006, the travel retail business comprised approximately 7% of total sales and 20% of operating income 6. First industry to introduce consistent brand imagery around the world 7. The company uses celebrities as endorsers in the testimonial advertising| Weaknesses 1. Does not sell at lower class retail outlets. 2. They do not put FDA warning labels on the products. 3. Increase of long term debt from 2006 to 2007 from 698. 2 million to 1,404. 7 million. | Opportunities 1. Expected growth in the personal products industry will be fueled by the rising demand from emerging and developing markets. 2. Optimization of brand portfolio. 3. Strengthening of global markets 4. Expansion of global markets 5. Diversification of distribution channel| SO Strategies 1. (S5, S4, O2) Create more products. 2. (S1,O1,S3) Adding more online marketing to developing markets. | WO Strategies 1. (W3,O2) Add FDA warning labels to new products being developed. . (W4,O1) Decrease long term debt give opportunity to enter more global markets. | Threats 1. Domination of the Asian department store channel 2. Australia has a slower and difficult retail environment particularly in the fragrance category. 3. Unemployment rate increase will disable Americans to buy the high-end products 4. The use of aerosols fluorocarbons in pr oducts damaging the environment. 5. Animal testing for new products | ST Strategies 1. (T1, S3,S4) Use strategy of free samples and online retail to market into the Asian market. 2. (T2, S4) Give more free samples to Australian market to increase sales. . (S6, T5) Have advertising with celebrities expressing that products are not animal tested. | WT Strategies 1. (W2, T3) Sell to lower class retail chain stores such as Wal-Mart. 2. (W3, W4,W5) Add to label that products used are eco-friendly | SPACE Matrix The Strategic Position and Action Evaluation (SPACE) Matrix, is Stage 2 matching tools. Its four-quadrant framework indicates whether aggressive, conservative, defensive, or competitive strategies are most appropriate for a given organization. After constructing the SPACE Matrix for Estee Lauder, Estee Lauder will fall under an aggressive quadrant. Internal Strategic Position| External Strategic Position| Financial Strength (FS)Return on investment 5Leverage 5Liquidity 4Working Capital 5Cash Flow 6 Total: (25/5) 5| Environmental Stability (ES)Technological changes -1Rate of inflation -5Price range of competing products -4Competitive pressure -4 Total: (-14/4) -3. | Competitive Advantage (CA)Market Share -1Product quality -1Customer Loyalty -1Competition’s capacity utilization -5Control over suppliers and distributors -5Total: (-13/5) -2. 6| Industry Strength (IS)Growth Potential 6Profit potential 5Financial stability 4Total: (15/3) 5| X-axis: -2. 6+ (5) = 2. 4 FS Y-axis: -3. 5+ (5) = 1. 5 CA IS (2. 4, 1. 5) ES Internal External Matrix The Internal External Matrix positions Estee Lauders various divisions in this display shown. From the given information it is recommended that Estee Lauder Grow and maintain. This is based on the EFE IFE Score Averages of 2. 7 2. 5 respectively. They should involve the company in: Backward, Forward and Horizontal Integration, Market penetration, Market development, and Product development. The IFE Total Weighted Scores The EFE Total Weighted Scores 4 | 3 Strong| 2 Average| 1 Weak| 3 High| I| II| III| 2 Medium| IV| V| VI| 1 Low| VII| VIII| IX| Total Weighted EFE = 2. 7 Total Weighted IFE = 2. 5 Segments| $ Revenue| % Revenue| EFE Scores| IFE Scores| 1. Skin Care| $2,601,000| 37. 0%| 3| 3| 2. Makeup| 2,712,700| 38. 5%| 2. 5| 3| 3. Fragrance| 1,308,600| 18. 6%| 3| 2. 5| 4. Hair Care| 377,100| 5. 4%| 2. 0| 2. 0| 5. Other| 38,100| 0. 5%| 3| 2| Total| $7,037,500. 00| 100. 0%| 2. 7| 2. 5| Recommendations We recommend the follow for The Este lauder companies: 1. To respond to the economic crisis if Estee lauder finds new service solutions and ways of utilizing social media to address the consumers new mindset. 2. Come up with brands for lower and middle class consumers. 3. Estee lauder can give out complimentary make-up application classes and free facials to market products. 4. Create less expensive sizes of best selling products and use of discreet pricing at make-up counters. 5. Develop a recycling program for products by giving out discounts when consumers bring outdated and empty make-up containers. 6. Create limited edition products that appeal to the fashion conscious consumer. 7. Shift in preference of products to demographic and cultural regions on how consumers shop. 8. Foreign currency fluctuations affecting the Companys results of operations and the value of its foreign assets, the relative prices at which the Company and its foreign competitors will sell products in the same markets and the Companys operating and manufacturing costs outside of the United States. 9. Social, political and economic risks to the Companys foreign or domestic manufacturing, distribution and retail operations, including changes in foreign investment and trade policies and regulations of the host countries and of the United States. 10. Increased competitive activity from companies in the skin care, makeup, fragrance and hair care businesses, some of which have greater resources than the Company does. 11. The Companys ability to develop, produce and market new products on which future operating results may depend and to successfully address challenges in the Companys business. 12. Changes in product mix to products which are less profitable. Changes in global or local conditions, including those due to the volatility in the global equity markets, natural disasters, real or perceived epidemics, or energy costs, that could affect consumer purchasing, the willingness or ability of consumers to travel and/or purchase the products while traveling, the financial strength of the customers, suppliers or other contract counterparties, the Companys operations, the cost and availability of capital which the Company may need for new equipment, facilities or acquisitions, the returns that the Company is able to generate on its pension assets and the resulting impact on its funding obligations, the cost and availability of raw materials and the assumptions underlying the Companys critical accounting estimates.

Estee Lauder Case 1 Analysis Essays

Estee Lauder Case 1 Analysis Essays Estee Lauder Case 1 Analysis Paper Estee Lauder Case 1 Analysis Paper Lauder| | Table of Contents Case Abstract3 Vision Statement Mission Statement4 Vision Statement:4 Mission Statement:4 External Audit5 Opportunities Threats5 Competitive Profile Matrix (CPM)6 External Factor Evaluation (EFE) Matrix7 Internal Audit8 Strengths Weakness8 Financial Ratio Analysis9 Internal Factor Evaluation (IFE) Matrix10 SWOT Matrix11 SPACE Matrix12 Internal External Matrix13 Recommendations14 Case Abstract The Estee Lauder Companies Inc. engages in the manufacture, marketing, and sale of skin care, makeup, fragrance, and hair care products worldwide. It offers skin care products, including moisturizers, creams, lotions, cleansers, sun screens, and self-tanning products; and makeup products, which consist of lipsticks, lip glosses, mascaras, foundations, eye shadows, nail polishes, and powders, as well as related items, such as compacts, brushes, and other makeup tools. The company provides its fragrances products in various forms, including sprays and colognes, lotions, powders, creams, and soaps. Its hair care products comprise hair color and styling products, shampoos, conditioners, and finishing sprays. The Estee Lauder Companies sells its products under the Estee Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, M A C, Bobbi Brown, La Mer, Aveda, Jo Malone, Bumble and bumble, Darphin, American Beauty, Flirt! , Good Skin, Grassroots, and Ojon brand names. It also operates as a licensee for fragrances and/or cosmetics sold under the Tommy Hilfiger, Kiton, Donna Karan, Michael Kors, Sean John, Missoni, Daisy Fuentes, Tom Ford, and Mustang brand names. The company sells its products through department stores, specialty retailers, upscale perfumeries, pharmacies, salons, and spas, as well as through company-owned stores, spas, and Web sites; authorized retailer Web sites; stores on cruise ships; in-flight and duty-free shops; and self-select outlets. The Estee Lauder Companies Inc. was founded in 1946 and is based in New York, New York. Vision Statement Mission Statement Vision Statement: Bringing the Best to Everybody We Touch Mission Statement: We are a family company committed to working together with uncompromising ethics and integrity. We strive to always: 1. Provide customers with innovative cosmetic products of the highest quality. 2. Deliver outstanding service by treating each individual as we ourselves would like to be treated. 3. Create an environment that fosters personal growth and well being. 4. Build partnership with our suppliers, retailers and colleagues based on fairness and trust. 5. Enhance our reputation of image, style and prestige. 6. Pursue profit, but never at the expense of quality, service or reputation. 7. Eliminate waste and reduce inefficiencies in order to provide maximum value to our customers. 8. Be responsible citizen in every community we serve. External Audit Opportunities Threats Opportunities 1. Expected growth in the personal products industry is fueled by rising demand from emerging and developing markets. 2. Optimization of brand portfolio. 3. Strengthening of global markets 4. Expansion of global markets 5. Diversification of distribution channel 6. The world’s aging population represents an increased investment in the cosmetic industry. | Threats 1. Domination of the Asian department store channel 2. Australia has a slower and difficult retail environment particularly in the fragrance category. 3. Unemployment rate increase will disable Americans to buy the high-end products 4. The use of aerosols fluorocarbons in products damaging the environment. 5. Animal testing for new products | Competitive Profile Matrix (CPM) Companies indentify strengths and weaknesses of current and potential competitors. This analysis provides both an offensive and defensive strategic context through which to identify opportunities and threats. Competitor profiling coalesces all of the relevant sources of competitor analysis into one framework in the support of efficient and effective strategy formulation, implementation, monitoring and adjustment. We used the same idea with Estee Lauder, L’Oreal, and Revlon. L’Oreal and Revlon is a real big competitor for Estee Lauder. Estee Lauder and L’Oreal perform above average on the CPM analysis. Revlon performed average compared how Estee Lauder and L’Oreal rated. | | Estee Lauder| L’Oreal| Revlon| Critical Success Factor| Weight| Rating| Score| Rating| Score| Rating| Score| Advertising| . 13| 3| . 39| 4| . 52| 4| . 52| Product Quality| . 12| 4| . 48| 4| . 48| 3| . 36| Price Competitiveness| . 10| 2| . 20| 4| . 28| 4| . 28| Management| . 12| 3| . 36| 2| . 4| 2| . 24| Financial Position| . 10| 3| . 30| 3| . 30| 3| . 30| Customer Loyalty| . 12| 3| . 36| 3| . 36| 3| . 36| Global Expansion| . 09| 4| . 36| 2| . 18| 2| . 18| Sales Distribution| . 08| 3| . 24| 3| . 24| 2| . 16| Manufacturing| . 07| 3| . 21| 3| . 21| 3| . 21| Research and Development| . 07| 2| . 14| 2| . 14| 2| . 14| Total:| 1. 00| | 3. 04| | 2. 95| | 2. 75| External Factor Evaluation (EFE) Ma trix An External Factor Evaluation (EFE) allows strategies to summaries and evaluate economic, social, and cultural factor through the uses of a numerical rating. In our case we evaluated the EFE of Estee Lauder. By numerically scaling Estee Lauder’s opportunities and threats we analyzed the importance of the programs they have to offer. First assigning each factor a weight of importance from 0. 0 to 1. 0, letting 0. 0 (least important) and 1. 0 (most important). Next we rated between 1 and 4 each key external factor to indicate how effective Estee Lauder structure. Finally multiplying the weight and the rating we got a score the show how effective each factor was. Key External Factors| Weight| Rating| Weighted Score| Opportunities| | | | 1. Expected growth in the personal products industry is fueled by rising demand from emerging and developing markets. | 0. 08| 2| 0. 16| 2. Optimization of brand portfolio. | 0. 10| 3| 0. 30| 3. Strengthening of global markets| 0. 10| 3| 0. 30| 4. Expansion of global markets| 0. 10| 3| 0. 30| 5. Diversification of distribution channel| 0. 09| 3| 0. 27| 6. The world’s aging population represents an increased investment in the cosmetic industry| 0. 08| 2| 0. 16| Threats| | | | 1. Domination of the Asian department store channel| 0. 09| 2| 0. 18| 2. Australia has a slower and difficult retail environment in the fragrance category| 0. 9| 2| 0. 18| 3. Unemployment rate increase will disable Americans to buy the high end product. | 0. 13| 4| 0. 52| 4. The use of aerosols and fluorocarbons with damaging the environment. | 0. 09| 2| 0. 18| 5. Animal testing for new products| 0. 05| 1| 0. 05| Total:| 1. 0| | 2. 60| Internal Audit Strengths Weakness Strengths 1. Sells products through ups cale department stores, specialty retailers, and prestige salons. 2. Has 26 brands, sells products over 130 countries a territories. 3. One of the first major cosmetic firms to offer online shopping. 4. Prestige pricing is an effective strategy given the target markets 5. First company to offer free samples and gift with purchase. 6. In 2006, the travel retail business comprised approximately 7% of total sales and 20% of operating income 7. First industry to introduce consistent brand imagery around the world 8. The company uses celebrities as endorsers in the testimonial advertising| Weakness 1. Does not sell at lower class retail outlets. 2. They do not put FDA warning labels on the products. 3. Increase in long term debt from 2006 to 2007 from 698. 2 million to 1,404. 7 million. | Financial Ratio Analysis The financial ratios are computed from both the income statement and balance sheet. Comparing ratios over time and used to industry averages is more likely to result in meaningful statistics that can be used to identify and evaluate strengths and weakness. Financial factors often alter existing strategies and change implementation plans. For Estee Lauder, we were only able to compute 4 of the financial ratios. The four financial ratios that we were able to compute were Return on Total Assets (ROA), Return on Equity, Net Profit Margin and Revenue per Share. The figures I used to compute the ratio’s came from the 2007 Financial Statements of Estee Lauder. Ratio| Calculation| | | 880. | . 587| | 1500. 7| | | 1383. 6| . 9219| | 1500. 7| | Return on investment = net before-tax profit / net worth| 711. 0| . 10| | 7037. 5| | ROA| 449. 3| . 1089| | 4125. 7| | Return on Equity = Net Income/Shareholders Equity| 449. 3| . 375| | 1199| | Revenues per Share = Revenues/ Shares Outstanding| 7037. 5| 32. 37| | 217. 4 shares| | Net Profit Margin = Net Earnings/Sales| 449. 3| . 064| | 7037. 5| | Internal Factor Evaluation (IFE) Matrix Internal Factor Evaluation is a strategic management tool for auditing or evaluating major strengths and weaknesses in functional areas of a business. IFE matrix also provides a basis for identifying and evaluating relationships among those areas. As for Estee Lauder their weaknesses were not as detrimental as their strength nor would they have a long term effect on Estee Lauder. Key Internal Factors| Weight| Rating| Weighted Score| Strengths| | | | 1. Sells products through upscale department stores, specialty retailers, and prestige salons. | 0. 09| 3| 0. 27| 2. Has 26 brands, sells products over 130 countries and territories| 0. 12| 4| 0. 48| 3. One of the first major cosmetics firms to offer online shopping. | 0. 11| 4| 0. 44| 4. Prestige pricing is an effective strategy given the target market. | 0. 11| 4| 0. 44| 5. First company to offer free samples and gift with purchase. | 0. 12| 4| 0. 48| 6. In 2006, the travel retail business comprised approximately 7% of total sales and 20% of operating income| 0. 10| 3| 0. 30| 7. First industry to introduce consistent brand imagery around the world| 0. 11| 4| 0. 44| 8. The company uses celebrities as endorsers in testimonial advertising. | 0. 12| 4| 0. 48| Weakness| | | | 1. Does not sell at lower class retail outlets . | 0. 04| 1| 0. 04| 2. They do not put FDA warning labels on the | 0. 4| 1| 0. 04| 3. Increase of long term debt from 2006 to 2007 from 698. 2 million to 1,404. 7 million| 0. 04| 1| 0. 04| Total:| 1. 0| | 3. 45| SWOT Matrix The SWOT Matrix helps visualize the analysis. Also, when executing this analysis it is important to understand how these elements work together. When an organization matched internal strengths to external opportunities, it creates c ore competencies in meeting the needs of its customers. In addition, an organization should act to convert internal weaknesses into strengths and external threats into opportunities. | Strengths 1. Sells products through upscale department stores, specialty retailers, and prestige salons. 2. One of the first major cosmetic firms to offer online shopping. 3. Prestige pricing is an effective strategy given the target markets 4. First company to offer free samples and gift with purchase. 5. In 2006, the travel retail business comprised approximately 7% of total sales and 20% of operating income 6. First industry to introduce consistent brand imagery around the world 7. The company uses celebrities as endorsers in the testimonial advertising| Weaknesses 1. Does not sell at lower class retail outlets. 2. They do not put FDA warning labels on the products. 3. Increase of long term debt from 2006 to 2007 from 698. 2 million to 1,404. 7 million. | Opportunities 1. Expected growth in the personal products industry will be fueled by the rising demand from emerging and developing markets. 2. Optimization of brand portfolio. 3. Strengthening of global markets 4. Expansion of global markets 5. Diversification of distribution channel| SO Strategies 1. (S5, S4, O2) Create more products. 2. (S1,O1,S3) Adding more online marketing to developing markets. | WO Strategies 1. (W3,O2) Add FDA warning labels to new products being developed. . (W4,O1) Decrease long term debt give opportunity to enter more global markets. | Threats 1. Domination of the Asian department store channel 2. Australia has a slower and difficult retail environment particularly in the fragrance category. 3. Unemployment rate increase will disable Americans to buy the high-end products 4. The use of aerosols fluorocarbons in pr oducts damaging the environment. 5. Animal testing for new products | ST Strategies 1. (T1, S3,S4) Use strategy of free samples and online retail to market into the Asian market. 2. (T2, S4) Give more free samples to Australian market to increase sales. . (S6, T5) Have advertising with celebrities expressing that products are not animal tested. | WT Strategies 1. (W2, T3) Sell to lower class retail chain stores such as Wal-Mart. 2. (W3, W4,W5) Add to label that products used are eco-friendly | SPACE Matrix The Strategic Position and Action Evaluation (SPACE) Matrix, is Stage 2 matching tools. Its four-quadrant framework indicates whether aggressive, conservative, defensive, or competitive strategies are most appropriate for a given organization. After constructing the SPACE Matrix for Estee Lauder, Estee Lauder will fall under an aggressive quadrant. Internal Strategic Position| External Strategic Position| Financial Strength (FS)Return on investment 5Leverage 5Liquidity 4Working Capital 5Cash Flow 6 Total: (25/5) 5| Environmental Stability (ES)Technological changes -1Rate of inflation -5Price range of competing products -4Competitive pressure -4 Total: (-14/4) -3. | Competitive Advantage (CA)Market Share -1Product quality -1Customer Loyalty -1Competition’s capacity utilization -5Control over suppliers and distributors -5Total: (-13/5) -2. 6| Industry Strength (IS)Growth Potential 6Profit potential 5Financial stability 4Total: (15/3) 5| X-axis: -2. 6+ (5) = 2. 4 FS Y-axis: -3. 5+ (5) = 1. 5 CA IS (2. 4, 1. 5) ES Internal External Matrix The Internal External Matrix positions Estee Lauders various divisions in this display shown. From the given information it is recommended that Estee Lauder Grow and maintain. This is based on the EFE IFE Score Averages of 2. 7 2. 5 respectively. They should involve the company in: Backward, Forward and Horizontal Integration, Market penetration, Market development, and Product development. The IFE Total Weighted Scores The EFE Total Weighted Scores 4 | 3 Strong| 2 Average| 1 Weak| 3 High| I| II| III| 2 Medium| IV| V| VI| 1 Low| VII| VIII| IX| Total Weighted EFE = 2. 7 Total Weighted IFE = 2. 5 Segments| $ Revenue| % Revenue| EFE Scores| IFE Scores| 1. Skin Care| $2,601,000| 37. 0%| 3| 3| 2. Makeup| 2,712,700| 38. 5%| 2. 5| 3| 3. Fragrance| 1,308,600| 18. 6%| 3| 2. 5| 4. Hair Care| 377,100| 5. 4%| 2. 0| 2. 0| 5. Other| 38,100| 0. 5%| 3| 2| Total| $7,037,500. 00| 100. 0%| 2. 7| 2. 5| Recommendations We recommend the follow for The Este lauder companies: 1. To respond to the economic crisis if Estee lauder finds new service solutions and ways of utilizing social media to address the consumers new mindset. 2. Come up with brands for lower and middle class consumers. 3. Estee lauder can give out complimentary make-up application classes and free facials to market products. 4. Create less expensive sizes of best selling products and use of discreet pricing at make-up counters. 5. Develop a recycling program for products by giving out discounts when consumers bring outdated and empty make-up containers. 6. Create limited edition products that appeal to the fashion conscious consumer. 7. Shift in preference of products to demographic and cultural regions on how consumers shop. 8. Foreign currency fluctuations affecting the Companys results of operations and the value of its foreign assets, the relative prices at which the Company and its foreign competitors will sell products in the same markets and the Companys operating and manufacturing costs outside of the United States. 9. Social, political and economic risks to the Companys foreign or domestic manufacturing, distribution and retail operations, including changes in foreign investment and trade policies and regulations of the host countries and of the United States. 10. Increased competitive activity from companies in the skin care, makeup, fragrance and hair care businesses, some of which have greater resources than the Company does. 11. The Companys ability to develop, produce and market new products on which future operating results may depend and to successfully address challenges in the Companys business. 12. Changes in product mix to products which are less profitable. Changes in global or local conditions, including those due to the volatility in the global equity markets, natural disasters, real or perceived epidemics, or energy costs, that could affect consumer purchasing, the willingness or ability of consumers to travel and/or purchase the products while traveling, the financial strength of the customers, suppliers or other contract counterparties, the Companys operations, the cost and availability of capital which the Company may need for new equipment, facilities or acquisitions, the returns that the Company is able to generate on its pension assets and the resulting impact on its funding obligations, the cost and availability of raw materials and the assumptions underlying the Companys critical accounting estimates.