Conduct Professional Standards A Australian -Myassignmenthelp.Com

Question: Discuss About The Conduct Professional Standards A Australian? Answer: Introduction It is evident from the given scenario that, Hardeeps friendship with Mandeep is causing ethical dilemma for Hardeep. If Hardeep choose company B for Enterprise Resource Planning (ERP) System, Mandeep and his organization will be benefited. However, both Hardeeps organization and Company B will suffer a loss if Mandeeps Company is given preference. While choosing company B, inspite of getting a better offer from Company A will not only enhance the overall cost of Hardeeps company, but it will also impose a negative impact on Company As business. On the other hand, the friendship of Hardeep and Mandeep and professional career of Mandeep might get severely affected if Hardeep chose Company A over Mandeeps company. Providing facility to Mandeeps Company on the basis of personal relation will not only violate the act of ethics, fairness, equality and honesty but is also illegal. Moreover, both Hardeeps organization and Company A will suffer a loss if priority is given to Company B. Hence, Hardeep should accept the offer of Company A since it will be ethical and justified act. Analysis of the action According to The Primacy of the Public Interest, an ideal citizen should always place the interest of the common mass before his/her personal interest (White 2005). It can thus be understood that an employer is supposed to serve the interest of Organization in spite of serving his personal interest. Another ACS Code of Ethic, Honesty states that an individual must maintain honesty while representing his/her knowledge, services, products and skills. Therefore it can be clearly understood that accepting a non-profitable offer on basis of personal relationship while disallowing a capable offer falls under the act of dishonesty. Fourthly, according to the code, Professional Development, an individual must enhance his/her own professional development along with his/her colleagues and employees. Being an IT Manager it is the duty of Hardeep to choose the deserving offer letter for handing over the project and hence he needs to choose Company A (ACS CODE OF ETHICS 2018). Finally the code Professionalism states that professional actions including maintenance of dignity and respect for all individuals in the society must be conducted in order to maintain professionalism (acs.org.au 2014). This code also contradicts the option of Harpeet to hand over the project to Mandeeps Company since the act will be unprofessional. Decision The Australian legislation on professional ethics states that any unethical and unprofessional activity conducted by an individual is punishable (Lsc.sa.gov.au. 2018). Therefore it can be understood that choosing Mandeeps company unethically over Company A will create legal issues for Hardeep. In order to solve the mentioned ethical dilemma, the first step taken by Hardeep should be accepting the offer made by Company A. Along with that, appropriate action should be taken against Mandeep for his unprofessional behavior. According to the acs.org.au (2014), Hardeep should refrain from conducting any action that may tarnish his image. Being a manager, he should protect and promote the professionalism in his organization. Recommendation The above decision will not only ensure preservation of professional morality and ethics, but will also save Hardeep and his organization from any legal issue. In order to maintain commitment of friendship with Mandeep, Hardeep should meet him personally and make him understand the ethical dilemma and the legal issues that he might have faced if he had chosen Mandeeps organization for the project. Reference List ACS CODE OF ETHICS. 2018. [ebook] Australian Computer Society. Available at: https://www.acs.org.au/content/dam/acs/rules-and-regulations/Code-of-Ethics.pdf [Accessed 21 Feb. 2018]. acs.org.au (2014).ACS Code of Professional Conduct Professional Standards Board Australian Computer Society. [ebook] Available at: https://www.acs.org.au/content/dam/acs/acs-documents/ACS%20Code-of-Professional-Conduct_v2.1.pdf [Accessed 23 Feb. 2018]. White, T.I., 2005. Resolving an ethical dilemma, pp.4-

Get E-Commerce And Marketing Solution on Amazon

Question: Discuss seven unique features of Amazon and implementation of seven unique features in Amazon. Answer: Introduction The term e-commerce became very popular with the emergence of new technologies, especially in the internet and computer network sectors. As e-commerce allows easy trading of goods or services over computer, it has become an essential part of most of the business structures. E-commerce organizations such as Amazon and e-Bay are doing exceptional business around the world and complementing traditional commercial buying and selling. The UK has the largest e-commerce market in the world that solely claimed almost 32 percent of European e-commerce sales in the year of 2013 (Azad et al. 2014). According to Huang and Benyoucef (2013), in the year of 2014, almost 80 percent online users accessed online shopping in the UK which was the highest online shopping penetration in Europe. Amazon leads the e-commerce market in the UK with a 16 percent market share while Tesco and eBay holds the second and third position having 9 percent and 8 percent market share respectively (Klaus 2013). Other majo r e-commerce websites of UK are Asos, Play.com, Next and John Lewis. This report will provide detailed information on the seven unique features of Amazon which has helped them to claim this top position in UK market. Seven Unique Features of Amazon Amazon has seven unique features in their website which are ubiquity, global reach, global standards, richness, interactivity, mass of information and customization (Huang and Benyoucef 2013). While some of these features are rightfully implemented and contributed in the success of Amazon, some features are implemented poorly. Figure 1: Seven Unique features of Amazon (Source: Huang and Benyoucef 2013) Ubiquity Ubiquity indicates that commercial transactions or any other activities related to a website are available everywhere such as workplaces, at home and on the mobile devices. Amazon.com is such a website that is not only available in pc platforms, but also available on all mobile platforms such as android, iphone and windows (Ritala et al. 2014). Besides, the connectivity of their server is so powerful that customers can access to the sites of Amazon at any time. This ubiquity or availability of Amazon is helping the consumers to reduce the transaction cost that is the cost of participating in the offline markets. Amazon is not only available in the UK, but also in countries like U.S., Canada, Germany, France, Italy, Spain, Japan, China and India (Klaus 2013). Therefore, the consumers can purchase goods from other countries too. Besides, the website of Amazon can stay connected to Facebook, Google+ and Twitter. Global reach Global reach of Amazon permits the consumers to execute commercial transactions from various countries that make this e-commerce site more convenient. Therefore, it can be said that the authority of the organization has several e-commerce merchants who are helping the website to become a popular and global market place (Berinsky et al. 2012). As Amazon.com is the ubiquity website, people in the whole world can go through this website and can carry out transactions without any obstacle. Global standards The standards of Amazon.com are higher than any other e-commerce site in the world which is shared by all the nations around the world. The global technical standards of Amazon are a great lower market entry cost that states the merchants must pay the costs of the goods that they bring to the market. Besides, the high standards of this site provides free search for all of their customers which means less effort to find the suitable products (Dong et al. 2013). In their website, Amazon has put the entire price and product related descriptions in a simpler and a accurate way. Richness The complexity and content of a message is known as the richness of that message. In the early days, conventional market had a great richness, as they were able to provide face-to-face services using aural and visual cue. This richness of the conventional markets helped the organizations to create a strong commercial environment. However, the e-commerce websites has brought a significant change in the traditional trade-off between richness and reach. According to Resca and Spagnoletti (2014), Amazon authorities believe that richness in the message depends on the amount of people they can reach. That means, the larger the people reached, the less rich the message. In any website of Amazon, detailed descriptions are provided for each product so that consumers can easily decide whether to buy it or not. Besides, Amazon also allows the sellers to communicate with the consumers to promote and explain the products to them. Interactivity Interactivity is one of the most important factors in e-commerce. For organizations like Amazon, it is difficult to implement face-to-face interaction with the consumers. Therefore, authority of Amazon is allowing their online merchants to attract the customer in the ways that are similar to face-to-face experience (Kousha and Thelwall 2015). Amazon website has developed a community that can do any announcement, enquiry and discussion between each other to understand the products properly. In this way, buyers and sellers can communicate with other in spite of staying at different countries. Density of information Information density allows the marketers to receive a huge amount of quality information on the products. Information density also allows to reduce the information cost and to increase the quality of the information to make it more relevant and useful (Skalicky 2013). Amazon websites are full of information such as detail outline of the product with its image so that consumers do not have to pay any costs to search the details from any other place. Customization Customization helps the merchants to target their marketing messages to the consumers based on their previous purchases and interests. Amazon follows this customization style to send marketing messages to different consumers who are the registered members in their system. Besides, Amazon also allows the consumers to create their wish list (Resca and Spagnoletti 2014). Wish list helps the merchants to understand the interests of the consumers therefore; they can send messages related to that wish list to the consumers. Implementation of seven unique features in Amazon Amazon authority and management has successfully implemented all the seven unique features in their websites to make it one of the most popular e-commerce sites in the world. However, it is seen that they failed to implement all of those features successfully (Muhammad et al. 2013). Some of those seven features are poorly implemented in Amazon websites. For example, ubiquity is implemented perfectly in Amazon websites because in many countries consumers can connect with each other and can buy products. Besides, consumers can also compare the products with other products to find out the best options for them. However, the interactivity is implemented poorly in Amazon websites. The chat provided in Amazon websites are not real time chat. The community is allowed to do announcements and enquiries between each other. However, sometimes consumers have to wait for the seller to do the reply which is considered as an inconvenience (Turban et al. 2015). Therefore, it is highly recommended that the authority of Amazon must enhance their system and allow the consumers to chat in a real time system like Facebook. In that way, they will be able to talk to sellers directly and will be able to get quick replies. However, it is also true that handling millions of consumers via chat is not an easy task to do. Therefore, neither the authority nor the advisers have any clue on this issue. Besides, the authority of Amazon must also think about global reach. It is true that Amazon facilities are directly available in 13 countries and last year the management recorded transaction from 185 countries (Resca an d Spagnoletti 2014). However, in the countries where the website is not directly available, the consumers had to wait longer to receive their products. Therefore, it can be said that the authority will also need to improve their global reach to hold their market position as e-commerce websites like eBay is already giving them tough competition. Conclusion In the conclusion it can be said that the main advantage of Amazon is there lower price structure. Amazon authority could keep the warehouse and staff costs lower which has helped them to offer products at a lower cost than other e-commerce websites. Second advantage is consumers can access to Amazon websites via any platform and from anywhere. However, Amazon is also facing some challenges and issues. E-commerce websites such as eBay and Tesco are slowly but steadily reducing the gap between them and Amazon. However, Amazon failed to improve their services in recent times. Therefore, they will have to work on their drawbacks to hold their position as a number one e-commerce website in UK. It is strongly recommended that they should improve their interaction system in order to communicate with their customers in a more frequent manner. They can also use social media sites such as Facebook and Twitter to communicate with existing and potential customers in different countries. References Azad, A.K.M., Islam, M.K. and Hoque, M.S., 2014. An analysis of popularity of Consumer to Consumer websites. International Journal of Advanced Computer Research, 4(3), p.828. Berinsky, A.J., Huber, G.A. and Lenz, G.S., . Evaluating online labor markets for experimental research: Amazon. com's Mechanical Turk. Political Analysis, 20(3), pp.351-368. Dong, R., O'Mahony, M.P., Schaal, M., McCarthy, K. and Smyth, B., 2013, October. Sentimental product recommendation. In Proceedings of the 7th ACM conference on Recommender systems (pp. 411-414). ACM. Huang, Z. and Benyoucef, M., 2013. From e-commerce to social commerce: A close look at design features.Electronic Commerce Research and Applications,12(4), pp.246-259. Klaus, P., 2013. The case of Amazon. com: towards a conceptual framework of online customer service experience (OCSE) using the emerging consensus technique (ECT). Journal of Services Marketing, 27(6), pp.443-457. Kousha, K. and Thelwall, M., 2015. Can Amazon. com reviews help to assess the wider impacts of books?. Journal of the Association for Information Science and Technology. Muhammad, M., Muhammad, M.R. and Khalil, K.M., 2013. Towards shariah compliant ecommerce transactions: A review of Amazon. com. Middle-East Journal of Scientific Research, 15(9), pp.1229-1236. Resca, A. and Spagnoletti, P., 2014. Business Development Through Digital Transformation: The Evolution of Amazon. Com. InInformation Systems, Management, Organization and Control(pp. 163-177). Springer International Publishing. Ritala, P., Golnam, A. and Wegmann, A., 2014. Coopetition-based business models: The case of Amazon. com. Industrial Marketing Management, 43(2), pp.236-249. Skalicky, S., 2013. Was this analysis helpful? A genre analysis of the Amazon. com discourse community and its most helpful product reviews. Discourse, Context Media, 2(2), pp.84-93. Turban, E., King, D., Lee, J.K., Liang, T.P. and Turban, D.C., 2015. Business-to-Business E-Commerce. In Electronic Commerce (pp. 161-207). Springer International Publishing.

Should You Be Authentic?

Should You Be Authentic?If you are thinking about writing an authentic essay, should you be authentic? Writing an authentic essay could actually help to win some awards and could possibly make you a lot of money.An essay is usually the first thing that gets submitted to a school or to a college. It is actually in this first grade that students learn about integrity and ethics. So as a result, a student who creates an essay is really showing the way to be a real essay writer.Are you able to write an essay or do you need help with that task? Maybe you are looking for essays and you are ready to submit a paper. In this case, you will need to be able to create an essay yourself. You can either pay someone to help you write your essay or you can start from scratch.If you want to write your own essay, you need to realize that there are a few steps you need to follow to prepare for it. This will help you master the process of writing a good essay and will also help you to be a real essay wr iter.First, you will need to research on the topic of your essay. You need to know the basics first. If you are familiar with the subject, then you can actually finish the writing process quickly.Second, you need to understand that you will need to practice a lot before you are actually able to write your essay on time. You need to practice writing a lot and at the same time learn to be able to write a good essay. There are ways to train yourself to write an essay in just one day and this will help you be able to write your essay even faster.Lastly, you need to find a good essay writing service that will help you craft an essay. This will help you become a true essay writer and will also help you become a successful writer.

Lead Time Management in Garment Sector Essay Example

Lead Time Management in Garment Sector Essay European Journal of Scientific Research ISSN 1450-216X Vol. 33 No. 4 (2009), pp. 617-629  © EuroJournals Publishing, Inc. 2009 http://www. eurojournals. com/ejsr. htm Lead Time Management in the Garment Sector of Bangladesh: An Avenues for Survival and Growth Nuruzzaman Department of Marketing, University of Rajshahi, Bangladesh Ahasanul Haque Department of business Administration, International Islamic University Malaysia, Box No. 10, 50728 Kuala Lumpur, Malaysia Abstract Bangladesh has emerged as an important supplier of quality readymade garments in the global market. The spectacular growth of garment sector in Bangladesh in recent years has dramatically changed the landscape of export composition of the country. Once heavily dependent on exports of primary products lead by Jute, the economy of Bangladesh is now experiencing almost 76% export contribution from readymade garments (RMG). The sector has now occupied an important place in Bangladesh national economy. Nevertheless, all is not well in this sector. It faces numerous challenges and it is now on the crossroad with the phasing out of quota system, GSP facilities and new provisions of WTO. In this study attempts have been made to find out the ways to face the competitive business environment by the efficient management process towards the lead time reduction. The main purpose of this article is to analyse the business process of the garment sector to find out it’s lead time minimization process. The study has been concluded by the development of a new diagram of business process with the outcome that the other management process in the supply chain is an important factor rather than process management in the lead time minimization process. We will write a custom essay sample on Lead Time Management in Garment Sector specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Lead Time Management in Garment Sector specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Lead Time Management in Garment Sector specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Keywords: RMG, Lead Time Minimisation, Management process, Supply Chain. Introduction The spectacular growth of garment sector in Bangladesh in recent years has dramatically changed the landscape of export composition of the country. Once heavily dependent on exports of primary products led by Jute, the economy of Bangladesh is now experiencing almost 76% (Nuruzzaman, 2005)export contribution from Readymade garments (RMG). The sector has now occupied an important place in our national economy. With the blessings of cheap labour, pressure for globalisation of production based on location economies as well as the favourable treatment from developed countries, Bangladesh and some other developing countries have gradually become the global players in international trade in RMG. However, the Multi-fibre Arrangement facility, which was extended to favour the least, developed countries in exporting garments and textile has phased out after 2005. Consequently, the beneficiaries of MFA, including Bangladesh are facing severe competition in the unprotected world market. At present, this sector is facing numerous challenges nationally and globally. Lead Time Management in the Garment Sector of Bangladesh: An Avenues for Survival and Growth 618 Bangladesh is one of the leading readymade garments exporters in the global market. The changing global environment in business and the development of GATT into WTO raises many important questions regarding increase in export in the Textile and garment sector for a developing country like Bangladesh. To survive in this sector Bangladesh must take immediate pragmatic policies enabling itself to compete more efficiently in the changing business environment through minimisation of lead time. In the beginning of 1990s, the lead time was 120-150 days (Azad, 2004) but in 2007, it was reduced to 30-50 days, i. e. at present it is 90-100 days (Khan, 2007). China requires only 30 days due to their textile and other backward linkage facilities as well as export friendly management and supporting policy. It is 45-60 days in India and Pakistan (Nuruzzaman, 2008). Therefore it appears that in the present situation Bangladesh RMG industry will not be able to compete successfully in the international market for the existence of unusually long lead time. This is specifically the main problem area of present research. To compete successfully in the fiercely competitive post-MFA global free trade market, the manufacturers must be adequately equipped with the latest knowledge of scientific management in minimizing lead time and other management deficiencies (Nuruzzaman, 2007). We have to give all out support o this sector and have to build up the backward linkage industry to reduce the dependence on imported raw materials and to minimize lead-time. Therefore, we need to find out some alternative supply mechanism to minimize lead-time. Here in this study steps also will be taken to focus on the lead-time management by presenting some successful and unsuccessful operations in the lead-time management process. The purpose of the present study is about analysing the existing situation specially the lead-time management in the RMG sector of Bangladesh. Theoretical Concepts RMG Business Structure Readymade garment is a labour intensive industry and relatively simple technology compared to other high-tech industries. The RMG manufacturing units are like tailor’s shop; getting order from the foreign buyers and then import raw materials specially fabrics from the foreign suppliers or sometimes buy from the local market as per order, then manufacture garments and supply those to the buyers (Munir, Q. and Salim, R. 2000). Figure 1: Business Structure of Bangladeshi RMG Industries Foreign buyers Supply of finished goods Local raw materials suppliers Collect raw materials Garments company (Manu facturer) Information flow Foreign raw materials suppliers Source: Nuruzzaman, 2007 In the RMG sector, the Manufacturer Raw materials Supplier relationship is different. In this industry the main raw materials are fabrics (Cloths) and few accessories are like button, collar etc. About 80% of the suppliers of accessories are local and accessories suppliers are not responsible to increase lead time. The lead time is getting higher due to import of fabrics mainly from China, Indonesia and India. The total average time to import fabrics from abroad is 50-65 days and this is the 19 Nuruzzaman and Ahasanul Haque main reason for long lead time (BGMEA research cell). In the process of import of fabrics from the foreign suppliers lies the main reason for long lead time. The process is visualised in fig. -2 below. Figure 2: Business structure and raw materials collection process Buying house Foreign buyers Local raw material suppliers Garments company (Manufacturer) For eign materials suppliers raw Problem area Order flow Collect raw materials Final product supply flow Information flow Source: Nuruzzaman, 2007 Lead Time Theory Todays customers around the globe demand product as they want it, when they want it, and at the best possible price. In todays highly competitive global marketplace they are placing greater value on quality and delivery time. Manufacturers similarly have begun to place more value on quality and delivery time and companies are trying to gain a competitive edge and improve profitability through cutting cost, increasing quality and improving delivery. However it is safe to say that the more competitive the industry, the more shortened lead times will help. In competitive industries, short lead time will differentiate a company from its competitors, leading to increase sales (Charies J. Murgiano, CPIM). Lead time is one of the main competitive factors among companies. The ability to deliver quickly influences export, sales and thereby revenue. The definition of lead-time can vary, depending on what part of the company is focused upon. It normally includes all activities from start to end. Leadtime begins with the first receipt of a customer order and ends with customer receipt of the product or service. Everything in between is the lead-time (2004, elsmar. com). Lead-time refers to the time lag between placing an order and receiving it (Li, 2000). In this study lead-time is defined as the time it takes from getting order from a customer and received the delivered product by that customer (Azad, 2004). At present, the average lead time is 90-120 days. It is sometimes 100-130 days. Total lead-time is made up of time devoted to processing orders, to procuring and manufacturing items, and to transporting items between the various stages of the supply chain. However, lead times can often be reduced if items are transported immediately after they are manufactured or arrive from suppliers (David Simchi et al. , 2000). Lead-time typically includes two components: Information lead times (i. e. , the time it takes to process an order) and Order lead times (i. e. , the time it takes to produce and ship the item). Information lead time can be reduced by using very sophisticated and modern communication system while Order lead time can be reduced through efficient supply chain management (Simchi-Levi, David, 2000) A researcher named Marc Smith explained lead time in two ways (www. lsmar. com, 2004). First, Customer lead time, which refers to the time span between customer ordering and customer receipt. Second, Manufacturing lead time, which refers to the time span from material availability at the first processing operation to completion at the last operation. In his paper Marc Smith developed theories for the reduction of lead time in the equip ment manufacturing company specially in vehicle manufacturing company. It is also applicable to the RMG sector. In the lead time reduction process, Lead Time Management in the Garment Sector of Bangladesh: An Avenues for Survival and Growth 20 identifying the beginning of the process and walking through the process is very important. In the RMG sector after order confirmation the process begins by sending information to the suppliers for raw materials (fabrics + accessories) and the process run through shipment of final product and received by the buyers. The whole of this process is comprised of the following steps order submission, scheduling sequencing, manufacturing and distribution. A manufacturer may be able to reduce lead time by taking some strategic measures in all of these four stages. From the above theory it is clear that the total lead time is customer lead time. Therefore we can write that; Customer lead time = [{Information lead time} + {Order lead time}] Total lead time = [{Information lead time} + {(manufacturing lead time) + (shipping time for import fabrics) + (Shipping time for export final product)} (Note that, Shipping time for import includes shipping time, unloading time and transport time from port to manufacturing point. Shipping time for export includes manufacturing time for final products and shipping time for export) Objective of the study The purpose of the present study is about analysing the present situation specially of the lead time management in the present business process of RMG export from Bangladesh. In view of the above purpose the specific objective of the study is to focus on reducing the lead time in relation to the business process and supply chain management. However the objectives of this study are; 1) To analyse the order lead time management process and 2) To develop a new business process to minimization of lead time Research Methodology The study is based absolutely on primary data. The primary data have been collected through free discussion and interviews with the key personnel of different company. Primary data have been collected from 50 Bangladeshi RMG units including 5 leading garment factories of Dhaka City on the basis of structured questionnaire designed in the light of the objective of the study. In this study the sample units have been selected randomly but 5 leading factories purposively. Interviews have been taken from Managing Directors, Managers and other officials of the merchandise department. Secondary data were also collected from some reports, articles, various stuffs that were provided by the companies. Collected literature, data and information have been analyzed in line with the objectives of the study. In this study conceptually developed some model, Lead time measurement equation have been used. As a real example, business process of a sample company has been discussed with the lead time measurement equation. Qualitative research method and various statistical tools like averages, percentages, growth rate etc. have been used in this study to interpret and analyze the collected data in the descriptive way. Findings and Analysis The RMG industry of Bangladesh still plays the role of tailor in the garments business. The required fabrics and limited accessories till now come from abroad. The industry is heavily dependent on imports and had to spend about 55-75 days to import fabrics from abroad (Nuruzzaman, 2007). This backdrop is the main reason for long lead time. Bangladesh garment export in volume is increasing @ 15-20 percent for the last 20 years, whereas Bangladesh RMG are depending only on Chittagong port (Nuruzzaman, 2007). The facilities of Chittagong port have not increased at the same rate. The containers kept stuck up in the port and 621 Nuruzzaman and Ahasanul Haque many containers remain jammed for 15-20 days, which is required to be released within three days. If the raw materials remain idle in the container at Chittagong port for 10-15 days, the garment industry would definitely face a serious negative impact (Kutubuddin Ahmed, 2002). According to an estimate, it takes about four days for goods to reach Chittagong from Singapore. But in a very sharp contrast, it takes about 18 to 19 days or nearly three weeks on average for the same goods to travel to the inland container depot (ICD) at Kamalapur in Dhaka. Besides the dilatory and cumbersome customs procedure and port operations also significantly delay the movement or release of goods. In Chittagong port it takes about 6 days to unload goods from a ship whereas for the same goods it takes just few hours in Singapore (M. Taheruddin,2004). About port management Mr. Anisul Haque, MD of Mohammadi group and former president of BGMEA stated,â€Å" Unfortunately we are spending 15-20 days to receive our fabrics from sea port to our factory and it is playing the main role to increase lead time†. Again to find out the probable causes of long lead time and for the empirical analysis 50 firms including 5 leading garments units have been chosen to collect primary data. They mentioned many causes behind this problem when interviews were taken but in the interview 100% i. e. f the 36 number respondents (Though 50 firms were chosen but 36 firms were interviewed successfully) put their comment on import dependency as a most important cause for increased lead time. Then 91. 66% i. e. 33 respondents on CBW, 75% i. e. 27 respondents on inefficient port management, 69. 44% i. e. 25 respondents on poor infrastructure and 41. 66% i. e. 15 respondents on communication system respectively. The same causes were ident ified in our analysis based on secondary data. This fact enhances the credibility of our findings. At the time of interview, the Managing Director of A. K. J. Fashions limited divided the lead time into three stages as it is illustrated in fig. -3. First stage, from P-Q (Fabrics suppliers – Sea port) the approximate lead time for the first stage is 40-55 days including the manufacturing time of fabrics, then from Q-R (Sea port Manufacturer) the approximate lead time for the second stage is 15-20 days and at last from RMG (Manufacturer Buyer) the approximate lead time for the last stage is 35-45 days. Figure 3: Basic Supply chain of Bangladeshi RMG Industries P Raw material Suppliers Source: Nuruzzaman, 2007 Q Sea Port R Manufacturers M Buyers The present estimated time from point Q to point R is unnecessary. Here the main task is unloading the container and carry it to the manufacturing point. The total procedure can be done by only 2 or 3 days through efficient management in port and good transportation system. But due to inefficiency of port management and poor transportation system it takes 15 to 20. From the above observation it is clear to us that, just for import of raw materials Bangladeshi manufacturers are forced to spend 55-75 days more. So import dependency for fabrics is the main reason of longer lead time. In the present analysis mainly the â€Å"Order lead time† (see the Lead time theory) will be considered and will be shown how can we reduce that time by an appropriate supply chain management. The manufacturers were asked a number of questions emphasizing this theme, how inefficient management in the chain can affect lead-time, and also what the consequences can be. In the interview when it was asked, all the manufacturers responded, order lead time is the main factor behind the lead time problem in the RMG sector. We can reduce maximum. 30 days by taking proper step in the supply chain. Most of the manufacturers responded that lead-time can be influenced if the buyer make contract with the raw material suppliers before giving final order to the manufacturers and if the government bodies take proper measures to increase efficiency at sea port. The Managing Director of Azmat Group stated, â€Å"We generally place order to the fabric suppliers after final contract Lead Time Management in the Garment Sector of Bangladesh: An Avenues for Survival and Growth 622 with the buyers and count 15-20 days to make fabrics. This manufacturing lead time can be reduced by the help of buyers or buying house. They can make ready their required fabrics at first and then they can make contract with us. As such we need not waste 15-20 days for the required fabrics. † Some manufacturers pointed out two main points responsible to increase lead time i. e. shipping time and unloading procedure at port. Some other manufacturers pointed out the poor infrastructure in railway and road transport to move their materials from port to manufacturers factory. They all believe that order lead-time can be reduced if government authorities take proper steps o increase the efficiency of the port and develop the rail and road transport. It seems that the respondents have different but almost same opinions on this issue. A manufacturer, K. M. Fashions Ltd. , expressed his opinion in a more logical way and stated, â€Å"To reduce lead-time effectively we have to reduce import dependency as soon as possible. Immediately we can reduce 30-40% lead time only by proper and efficient management in the supply c hain. † The largest RMG manufacturer Opex group responded, Lead time is generally 90-120 days for the woven garments. But immediately we can reduce 30% of lead time through proper management in supply chain during import of fabrics and 15% would be possible by only developing port facilities. If we develop our textile sector and procure fabrics from the local market we can reduce 60% of total lead time. For the knitwear garments we procure all raw materials from the local market so there is no lead time problem in the Knitwear garments sector. From the above discussion, it appears that the manufacturers of RMG sector mainly face order lead time problem and this problem occurred in the supply chain due to inefficient management. Time consumed in the first four steps in the supply chain is the basic reasons for increasing lead time. It is possible to reduce a major portion of order lead time by improving the other three areas namely, communication, port management and transport management in the supply chain. We can get a clear idea about lead time in the supply chain by considering the equation of lead time and put average estimated time collected from the interviews for each step. We know that; Total lead time = [{Information lead time}+ {(Order lead time)}] Or, = [{Information lead time} + {(time to manufacturing fabrics) + (time to shipment of fabrics)+(time to unloading fabrics and customs formalities at port) + (time to take fabrics from port to manufacturing point) + (time to sample approval and production of final product)+ Time to shipment or export of final products)}] Or, 120 = [{7} + {(15)+ (25)+(14)+(6) + (23)+(30)}] From the above equation, we can say that through the first four stages a manufacturer received fabrics from the suppliers after 60 days on average. Out of this the shipping time of 25 days is constant. There is no chance to reduce this shipping time but we can reduce the rest 35 days. There are two parties and various activities involved between suppliers and manufacturers in the supply chain. It can be seen in the fig. -4 broadly. The activities and time consumption area have been illustrated here through four boxes (A-D) or stages. Figure 4: Lead-time and fabrics importing process A B C D Manufacturin Suppliers Manufacturing g fabrics Shipping time (Receive order time shipment of fabrics) Unloading Manufacturer Unloading fabrics at sea s plant/ transportation time port warehouse Source: Nuruzzaman, 2007 623 Nuruzzaman and Ahasanul Haque After final contract with the buyers, manufacturers first place order to the foreign fabrics supplier (A). Then the supplier manufactures fabrics (B) and send fabrics by shipment. After a certain time the ship reaches at the port (C). Here after unloading and completing some custom formalities fabrics are sent through train or road transport to the manufacturers production-plant/warehouse (D). For this total process from A-D manufacturers need 55-75 days. At the time of import a proper management in the supply chain can reduce 30-35 days. The rest of the time of 25-35 days is needed only for shipment. It is known from the interview that most of the buyers have no regional offices in Dhaka. These are either in Bangkok or Singapore. One of the largest European garment sub-contractors based in Dhaka is Hennes Mauritaz (HM) from Sweden (Asia invest, p-11, Sector 4. ). The regional offices and the buyers resident in Dhaka can build a stock of the required quality of fabrics in advance before making final contract with the manufacturers. It will definitely reduce the manufacturing time. Again the proper and efficient management at port and good transportation system can reduce time to receive raw materials from port to manufacturing plants. But if we avoid fabric import altogether then we can reduce 55-75 days from the total lead time and we will be able to assure export of RMG products by 45-60 days regularly. Landmark group is a leading garment manufacturer in the knitwear sector of Bangladesh. It states, we do not face lead time problem for our RMG products. We generally take 45-60 days to export our product because we need not to spend any time to import raw materials. We procure all knit fabrics and accessories from the local market. Therefore in conclusion we can say that by efficient supply chain management we can reduce 29% of total lead time. But to survive in the competition we have to reduce lead time by minimum 50% and we can reduce 55-60% of total lead time by avoiding import and abolishing import dependency attitude. Analysis the lead time management of a model Company (Sharmin Group) The company’s some successful and unsuccessful business process with different buyers have been analysed here to have a clear idea about the way to minimisation of lead time. Generally, after getting final order, the company collects fabrics as per buyers direction from the foreign suppliers. After collection of fabrics they prepare sample as per design. Then after approval of the sample the company goes for mass production and shipment to the buyers. To complete the whole process the company generally takes about 90-120 days but sometimes for some buyers it takes about 110-140 days. There are also some buyers who complete the whole process by only 50-60 days. The company takes 45-50 days in all to approve the sample and finish the production following the sample approval process. We can see the sample approval flow chart in the fig. -1 of Appendix-1. Some buyers like BMB Apparels follows this sample approval flow chart, but most of the buyers even follow shorter processes. The interview was taken very closely with the Managing Director of Sharmin Group. At the time of interview he was found scared for the possible awful situation in the post MFA period. He stated, we have all but just for want of fabrics we are going to face stiff competition. What he said about the business operations of the company could be summerised as follows. After getting the final order, the company communicates with the suppliers through e-mail and over telephone. For this task the company spend few days. Mr. Hossain said that they were not worried about the information lead time. They generally take 5-7 days for this process. He said, â€Å"In the garment business suppliers are not permanent, we had to communicate with one or more suppliers for fabrics in time after getting final order. A good numbers of accessories are procured from the local market. So e-mail and telephonic communication are sufficient for the RMG companies. At the time of interview it was gathered that the company was facing problem mainly in the supply chain i. e. order lead time for importing fabrics. The company, Sharmin group also faces problem in the sample approval process. In the supply chain the company had to spend 45 days on an Lead Time Management in the Garment Sector of Bangladesh: An Avenues for Survival and Growth 624 average which is not negligible . Again, the sample approval process is also cumbersome. It takes enough time and thus contributes to increase lead time problem. Mr. Hossain expressed that the company could reduce a certain portion of lead time by taking some appropriate measures but 60% of lead time can be reduced by avoiding import dependency and by considering alternative source of fabrics supply. In Fig. -2 of appendix-1 the estimated time can be seen at different stages of the manufacturing process of Sharmin group. The estimated time was shown according to the information delivered by the Managing Director of Sharmin Group. Most of the buyers follow in this process to purchase garments from this company. At the time of our discussion on the present situation of the RMG business, Managing Director of this company told us that he was afraid for the post MFA period. The company was certainly going to lose its business due to long lead time in the post MFA period. He urged that immediately we should take some proper measures to reduce lead time. At the time of interview it has been informed that the company was doing business successfully with a European company where lead time was in between 45 to 60 days. It is the competitive lead time in the RMG sector of Bangladesh. In the figure-2 of Appendix-1 total business process of Sharmin group has been visualised through A-F stages. From this figure we can get clear information about the estimated time in six different stages like, A-B, B-C, C-D, D-E, E-F and from F to Buyers. The total lead time in this process for Sharmin group is 120-140. There is a buyer named BMB Apparels doing business with Sharmin. It strictly follows 100% of the sample approval flow chart the RMG business process like the figure-12 (see appendix-1). Therefore its average lead time is 130 days. But the other buyers like JC Penny, American Eagle do not maintain the sample approval flow chart of fig. -1(Appendix-1). They approve sample in a normal procedure and spend 5-10 days for approval. In this case they take help from local office or local agent. Therefore their average lead time is in between 90-120 days. At present the company is doing business successfully with Corona maintaining a minimum lead time. In this regard Mr. Hossain urged, â€Å"we have to consider this success story with the buyer like Corona and find ways and means to deliver garments product to the buyer by 45-60 days†. When asked for the reasons for the success in the business to the Managing Director, opined his success is mainly due to the procurement of fabrics from the local market. The buyer Corona at first makes their fabrics ready then contact with the manufacturer for order placement. The buyer takes just one or two days for sample approval. As a result the company is able to cut down the lead time by about 60-70 days. According to the figure-2 (Appendix-1), the average information lead time is 6 days and the average order lead time is 129 days for the Sharmin group. So reduction of order lead time is the crux of lead time problem. Out of 129 days, in the supply chain, total average lead time is 52 days. By taking some proper measures like making fabrics available in advance, developing inland transportation system, improving management efficiency at port etc. , it is possible to reduce about 23 days in B, C, D and E stages of supply chain. In the supply chain the rest of the time is for shipment. The company can cut down this time only by avoiding import. It is also possible to reduce 30 days in sample approval process by adopting normal sample approval process performed by other buyers or by encouraging the buyers to open a local office in Bangladesh. Considering the equation of lead time and putting value in that equation three types of buyer of this company can be analysed. First time we are considering BMB apparels from UK. We know that; Total lead time = [{Information lead time}+ {(Order lead time)}] Or, = [{Information lead time} + {(fabrics manufacturing time) + (fabrics shipment time)+ (unloading and transportation time) + (sample approval and production time of garments product)+ (shipment time for export of final products)}] = [{6}+ {(11) + (24) +(12)+(35+12)+(30)}] So, total average lead time = 130 days In this study for the BMB buyer, manufacturers order lead time is 124 days. In the supply chain the company spends totally (11+24+12) = 47 days for import of fabrics where 20 days can be saved. 625 Nuruzzaman and Ahasanul Haque Time for the last two stages is common for all manufacturers. Here manufacturer spends (47+30) = 67 days where maximum time is consumed by sample approval. The company spends about 35 days for sample approval process for this buyer. It is unusual. So here sample approval process is the main reason for increasing lead time. Secondly, the buyer JC Penny from USA has been considered. For this buyer, Total lead time = [{Information lead time}+ {(Order lead time)}] Or, = [{Information lead time} + {(time to manufacturing fabrics) + (time to shipment of fabrics)+(time to unloading fabrics and customs formalities at port) + (time to take fabrics from port to manufacturing point) + (time to sample approval and production of final product)+ shipment time to export of final products)}] = [{6} + {(12)+ (25)+(14)+(6) + (23)+(30)}] So, total average lead time = 116 days Now form the above calculation it is clear that doing business with the buyer JC Penny, USA, manufacturers order lead time is 110 days. In the supply chain the company spends totally (12+25+14+6) = 56 days for importing fabrics where about 24 days can be reduced. Times for the last two stages are common to all manufacturers. Here manufacturer spends (23+30) = 53 days. Where maximum 10 days is spent for sample approval. It is a normal process. So in the above calculations it has been observed that the four values as underlined above are the principal reasons for the increase of lead time. Thirdly has been considered the buyer of ‘Corona’ from Italy. For this buyer, Total lead time = [{Information lead time}+ {(Order lead time)}] Or, = [{Information lead time} + {(time to sample approval and production of final product)+ (shipment time to export of final products)}] = [{1}+ (17)+(30)}] So, total average lead time = 48 days. Here in this case the manufacturer does not have to import fabrics for Corona. The buyer himself supplies fabrics from their own textile mill located in Bangladesh. For this reason the order lead time is only 47 days. After getting order the company spends totally 48 days in the supply chain to export final products to the buyer. In this case as there is no need to import of fabrics the RMG company does not face any manufacturing lead time, transportation related problem and unloading related problem at port. Therefore the manufacturer does not have any problem in the supply chain. We know time required for the last two stages are common to all manufacturers. So there is no scope to reduce this time. Here buyer (Corona) communicates with the prospective manufacturer over telephone and takes the sample to the manufacturer physically and approves the sample within two/three days. For that reason information lead time and sample approval time are very minimal in the total lead time. From the above discussion and analysis of some buyer’s success and other failure in reducing lead time, one can draw a conclusion that if Sharmin group could avoid import and collect fabrics from the local market, the lead time would be between 45-60 days. It will be more competitive if the buyer would open a local office in Dhaka. This will minimise sample approval process. While integrating all the findings from the survey and the case study we can draw a conclusion that in the current RMG business manufacturers are facing lead time problem due to import dependency i. e. import of fabrics from foreign market. This problem is exacerbated due to inefficiency in the supply chain management. Lead time could be further reduced by taking some appropriate measures in manufacturing, unloading and transportation system but it does not help the manufacturer to be more competitive. If the manufacturers could find some alternative source of supply in the local market and collect fabrics locally. That will be more logical, appropriate and helpful in the direction of lead time reduction. Considering all the above analyses a new model of RMG business process has been proposed in fig. -7, which is expected to be helpful in reducing lead time. Lead Time Management in the Garment Sector of Bangladesh: An Avenues for Survival and Growth Figure 7: Proposed business process for RMG Industries in Bangladesh Buying house/ Buyers agent 626 Foreign buyers Local market Garments company (Manufacturer) Backward linkage industries Buyers own textile mills Order flow Collect raw materials Final product supply flow Information flow Conclusion The RMG sector of Bangladesh has entered in the quota free market after 2005. From that time this sector is in a very disadvantageous situation due to long lead time which has negative impact on export growth. Through analysis of empirical data it has been found that import dependency is the major bottleneck and it is the main factor for greater lead time. Just due to import of fabrics manufacturers are to count shipment time, unloading time, customs clearance time and transportation time from port to ICD( Inland container depot ) at Kamalapur, Dhaka. Import dependency arises out of the absence of sufficient backward linkage industry and for this reason a total additional 55-75 days are spent in the import process of fabrics by RMG sector of Bangladesh. As a result this sector is facing long lead time which is 90 to 130 days on the average. From the analysis it is clear that the impact of information lead time is very negligible on total lead time. It contributes only 6%. However, order lead-time has a great role to increase the lead time. By the analysis it was found that fabrics manufacturing time, shipping time, unloading time and transportation time are included in the order lead time. In conclusion considering the above analysis it has been found that import dependency is contributing 50% or more in the problem of long lead time and it is the main factor for the problem of long lead time in the RMG sector. Sample approval is another factor contributing for long lead time. The buyer from Italy for ‘Corona’ brand taking 48 days to complete all the process. It is the standard lead time to compete with the other manufacturer and exporter of the world. It becomes possible only for avoiding import of fabrics. For the buyer of Corona, manufacturer collects fabrics from the local market from their own textile. So, reduction of lead time is possible when the RMG sector ensure the availability of fabrics from the local market by developing backward linkage industry specially in the oven sector and by establishing textile mills by the buyer for their own consumption. 27 Nuruzzaman and Ahasanul Haque Azad, R. (2004), Readymade Garment Industry in Bangladesh: Competitiveness and sustainability, unpublished Ph. D. thesis, Dept. of Marketing, R. U. , Bangladesh. BGMEA research cell, BGMEA, BTMC Bhaban, 7-9, Kawranbazar, Dhaka. Charles J. Murgiano, CPIM, Short lead time=Tall profit, Wellesley: Waterloo Manufacturing Software, Advanced Planning and Sched uling Technology Paper, http://www. waterloosoftware. com/leadtime. html, Retrieve; December 10,2007. Cooke and Morgan (1998), The Association Economy, England; Oxford University Press. Gothenburg University website (2005), http://elsmar. com/Lead_Time/tsld006. htm, Retrieved on September, 2005. Khan, Shahiduzzaman (2007), â€Å"Apparel Industry faces daunting tasks ahead†, Editorial report, Financial Express, September 9, 2007. Kutubuddin Ahmed (2002), Impact of MFA phase out on the apparel industry of Bangladesh and remedial measures fir its survival, Bangladesh Apparel and Textile Exposition souvenir, Dhaka, Bangladesh. Li, J. Q. , Shaw, M. J. and Tan, G. W. , (2000) Evaluating Information Sharing in Two-level supply chain, management science, 1999. M. Taheruddin (2004), Problems and prospects of Garment Industry, The Daily Ittefaq, Wednesday, 23rd June, Dhaka, Bangladesh, P- 10 Munir Quddus, Salim Rashid (2000), Entrepreneurs and Economic development- The Remarkable Story of Garment Exports from Bangladesh, The University Press Limited, Dhaka, Bangladesh, P (23-80). Nuruzzaman, Md. (2008), â€Å"Lead time reduction and the application of Process Management- A study on selected RMG units in Bangladesh†, Journal of Business Research, Vol. 10, June 2008, P-63 Nuruzzaman Md. (2007), Developing Export of RMG products in Bangladesh: Analysing the lead time†, Management Trends, Vol. , No. 1, P- 1 Nuruzzaman, Md. (2005), â€Å" Development of Readymade Garment Business (RMG) in the process of Lead Time reduction- A study on Bangladeshi Readymade Garment Sector†, Draft Master Thesis, GBS, Gothenburg University, Sweden Schary, Philip B. (2000), Managing the global supply chain, Indian edition, Viva books private limited, Delhi. Simchi-Levi, David, Kaminsky, Philip. and Simchi-Levi, Edith (2000), Designing and Managing the supply chain, McGraw-Hill international edition, Singapore. References [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] 12] [13] [14] [15] Lead Time Management in the Garment Sector of Bangladesh: An Avenues for Survival and Growth Internet source: http://elsmar. com/Lead_Time/tsld006. htm Retrieved on July 2004. 628 Appendix-1 Figure 1: Sample Approval Flow Chart Proto type Sample Green Seal Sample This should be made in the correct weight of material or knit. Requested by the QA/ Buying Office when an order is placed. The quality assurance team will make comments regarding fit and size. Also 1 meter of the intended bulk base fabric must be submitted for UK fibre content testing. Along with the completed test report request from stating the tests proposed for the style. Please note green seals will not be approved without the completed test request form Red Seal Sample A full size set in the correct base quality fabric and trims, in any available colour are requested in accordance to the critical path,(with enough time for a second remake to be made if necessary) before production commences. No samples are to be sent in substitute base fabrics. A full size set is required for all styles, but not all colours. Photo Samples and Presentation Samples The above samples must be a good representation of production in bulk fabric with correct details and trims( including labels). We require 2 samples per colour/style. Sizes to be confirmed by buyer. Press Samples Press samples will be required for ceretain styles and must be a good representation of production in bulk fabric, with correct details and trims(including labels). Sizes to be confirmed by buyer. Gold Seal Samples One sample of each colour in each size must be sent to the quality assurance team for the attention of the relevant technilogist. A minimum of 3 working days must be allowed for approval prior to shipment/despatch from factory. i. e. If 6 sizes and 5 colours, one samples of each size in each colour, and two sizes in the same colour. These need to be correct for style, size specification, fabric colour, trimming qualities and colours. Made to the correct manufacturing standards on the correct machinery. Mock Shop Samples Four samples per colourway, correctly packaged will be required with the gold seal samples for mock shop purposes, the buyer will confirm these. No shipment can be made without a signed certificate of relese from both the inspection team and buyers quality assurance department Repeats There is no requirements to obtain green red sealing samples for repeat purchases. However gold seals are required. Contract Placed Green Seal Sample Test request form to be completed Red Seal Sample Photo Press Sample Presentation Sample Gold Seal Samples original test reports. Approved certificate of release to be obtained Mock Shop Samples if required Inspection Shipping Source: constructed for this study based on interview 29 Figure: 2 Nuruzzaman and Ahasanul Haque A Manufacturer communicates with the suppliers Information time, 5-7 days Suppliers (Receive order of fabrics) Manufacturing time, 10-12 days Manufacturing fabrics shipment Shipment time, 2225 days Unloading fabrics at sea port transport to the Manufacturing point Unloading transportation time, 10-14 days Sample making, approval production Sample approval production time, 45-50 days B C D E F Shipment to the buyers Shipment time, 28-32 days Final destination Source: Constructed for this study Based on Interview

12 Experts Predict What The Most Successful Marketers Will Do In 2018

12 Experts Predict What The Most Successful Marketers Will Do In 2018 What will the most successful marketers do in 2018? It’s a simple question. And I wanted the answers from some of my super smart friends in the marketing industry to help my  team at be as successful as possible in 2018. My thought here was to use these predictions as potential future project ideas: Which of these predictions offer the biggest 10x growth opportunities? Are there things we’re already doing that we may need to improve or double down on? How may we optimize our strategy + processes to capitalize on new opportunities? Learning from others’ success is often a great way to become successful yourself. So†¦ †¦in the same breath†¦ I knew you  would likely learn a lot from these 2018 marketing predictions, too. I also thought you’d enjoy learning from my *informal* marketing mentors. What Are The Most Successful Marketers Doing? Download the 2018 State of Marketing Strategy Report to learn the strongest predictors of success with goals, strategy, process, and more. When you do, you’ll learn the benchmarks that set successful marketing teams apart from the rest. So get it now! Alright, though†¦ let’s hear what our experts predict for marketing success in 2018, shall we? ;) Adapt Quickly†¦ Agile #FTW Julia McCoy, CEO Of Express Writers, Instructor At contentstrategycourses.com Adapt.  This is the keyword to successful marketing in 2018. As we end 2017, we've seen incredibly major  changes happen to leading social platforms. Facebook Stories merging with Instagram Stories. Snapchat planning on a redesign after confirmation less people are using their platform. Twitter doubling their allowed character and word count per tweet. LinkedIn featuring trends that look very similar to Twitter trends. The demand for video, especially Facebook live streaming, will continue to grow. Along with adapting to (and knowing the trends), it's also vitally important to know what your users want. For example, in today's noisy social platform world where Facebook autoplays videos, some users seek the basics of beautiful imagery and a well-written story- and mute all videos. Don't overlook what your people want. It could be the basics. So, adapt with them in mind, at all times. With these keys in mind, you're in for a successful, exciting ride with your marketing in 2018. Julia McCoy is the founder of Express Writers, serial content marketer, and best-selling author. Don't overlook what your people want.Optimize Old Content To Increase Your Results With Less Effort Andy Crestodina, Co-Founder And Strategic Director Of Orbit Media Studios Update old content. The most successful marketers will go back and find big value in that deep well of past articles. Older articles often have authority and links. They'd benefit from a rewrite and better relevance. Older articles often convert a good percentage of visitors into subscribers. They'd benefit from a new stream of traffic. Older articles are often easy to rewrite. They're faster to update than writing a new piece. The pros have already figured this out. In fact most marketers have. According to some recent research, 55% of bloggers update old content. They do it for better rankings and more traffic in less time. Maybe you don't need 1000 articles. Maybe you need 100 great articles. Andy Crestodina is a co-founder and the Strategic Director of Orbit Media, an award-winning 38-person web design company in Chicago. Did you know 55% of bloggers update old content?Embrace New + Repurpose Old + Measure Everything Gini Dietrich, CEO of Arment Dietrich And Founder And Author Of Spin Sucks In 2018, the most successful marketers will do three things (I know you asked for only one, but I'm cheating!): Begin to adopt artificial intelligence, chatbots, and/or virtual reality. Optimize their work by repurposing content. Consistently measure their work and tweak and improve as they go. Though many successful marketers have already adopted some of the new technologies, 2018 brings an opportunity to enhance the work they're already doing–and do more. For number two, it's always astounding to me how many marketers (most) don't repurpose any content. They create something once and let it live in a silo. The most successful marketers do not do that. For everything you publish, there should be at least five ancillary pieces you can create. Optimize the heck out of your creations. And then measure your work. Because I am a communications pro, I focus on PR metrics, but the things I push my team, our clients, and our community on are metrics every successful marketer uses. Study them, learn them, implement them. You will be considered a successful marketer by 2019 if you do. Gini Dietrich is the founder and CEO of Arment Dietrich, a Chicago-based integrated marketing communications firm. She is the lead blogger at the PR and marketing blog, Spin Sucks, is co-author of Marketing In the Round, and is co-host of Inside PR, a weekly podcast about communications and social media. Your winning content formula: Embrace New + Repurpose Old + Measure Everything.Spend 80% Of Your Time Scaling, 20% Testing Sujan Patel, Co-Founder Of WebProfits Your approach to marketing shouldn't change in 2018. It should always be 70-80% focusing on scaling and optimizing proven channels and 20-30% on testing new channels. New technologies have made AR mainstream on mobile devices, and new media such as voice search on Amazon Echo, Google Home, and Siri are going to make 2018 an interesting year. With the saturation and increasing competition for internet business, there’s one area where companies can’t afford not  to spend on in 2018: Branding. Your brand/voice and the customers’ perspective of you will play a larger part of the purchase decision. Sujan Patel is a data-driven marketer and entrepreneur. He is a high energy individual fueled by his passion to help people and solve problems. Sujan is the co-founder of WebProfits US, a growth marketing agency software companies, Narrow.io   Mailshake, tools to help marketers build their Twitter following and scale content marketing efforts. Spend 80% of your time scaling, 20% testing.Very Purposefully Stand Out From The Competition Ian Cleary,  CoFounder of OutreachPlus and Founder of RazorSocial Focus more on strategic content and invest more time in content promotion. Content marketing is very competitive, so to stand out, you need to build more strategic assets. These are not 500-word blog posts. They could be surveys that take you weeks to build, a useful software utility for your audience, a whole series of video content, a guide that contains better information than anything available on the internet, etc. When you produce these assets, you then need to invest time in outreach. That's building relationships in the short term to help with strategic content promotion in the long term. Ian Cleary is a CoFounder of OutreachPlus and the Founder of RazorSocial. He works with clients all around the world on with marketing consultancy and training programs focused primarily on content marketing and relationship building (e.g. influencer programs). Focus more on strategic content and invest more time in content promotion.Personalize Experiences With Marketing Automation Barry Feldman, Founder/Owner Of Feldman Creative I see great marketers separating themselves from the pack by gathering and using customer intelligence. It's become widely understood customers want more personalized experiences. The marketers able to nurture the brand/buyer relationship with personalized interactions and experiences that cater to an individual's needs will win more customers and be better equipped to keep them and create brand advocates. Of course, the process of building intelligent profiles of your customers can be handled in a variety of ways. I consult with ShortStack  and their platform provides a great example. Their interactive content- contests, quizzes, and such- encourages prospects to not only engage, but to reveal their wants and needs. And now, there's a marketing automation element to the platform enabling the marketer to follow-up with more personalized communications. It's just one example, but it's a good one. Ask yourself, how can you learn more about your prospects and use the intelligence in your marketing? Barry Feldman, founder of Feldman Creative, is a prolific writer with 25 years of experience bringing his clients' online presence to the next level through copywriting and content marketing creation and consulting. He writes and educates clients on online marketing on The Point  and on many other sites across the web. How can you learn more about your prospects and use the intelligence in your marketing?Listen + Analyze + Plan + Personalize Joei Chan, Content Marketing Manager At Mention In 2018, the most successful marketers will be listening to, working with, and leveraging customers from acquisition to retention. The best marketers will be those who succeed in extracting and analyzing granular customer data and behavior to create personalized and targeted campaigns. This doesn't just mean surveying customers, but actually having a process to incorporating the feedback and making the customer's voice the starting point of your strategy. The feedback can be collected through NPS, CSAT, social media monitoring, behavioral analytics, chatbots, or with AI, etc. In the past customer feedback was usually an afterthought or 'just for reference.' In 2018, every marketing decision you take should be based on customer feedback or data. "We've listened to our customers, this is what's frustrating them, this is what they want, and this is what we're gonna do." Joei Chan  is the Content Marketing Manager at Mention  where she leads marketing campaigns and partnerships for demand generation. Four things successful marketers will do in 2018: Listen + Analyze + Plan + PersonalizeUse Behavioral Data To Tailor Content To The Customer Lifecycle Kim Courvoisier, Director Of Content Marketing And Social Media At Campaign Monitor 2017 has been a heck of a year on all fronts, and marketers need to fasten their seatbelts because 2018 is coming in hot! If 2017 was the year that as marketers we fought for and gained access to data (which many of us did!), then 2018 will be the year that we will use that data in unique ways to power massively relevant campaigns to our prospects and customers. It’s no longer enough to talk the talk about the right message to the right person at the right time. 2018’s most successful marketers must OWN the customer lifecycle and own it like they never have before. The marketing funnel is no longer a linear path to conversion and it won’t be enough to simply cherry pick a few pivotal touchpoints and expect to get results. To be a truly successful marketer in 2018 and beyond, marketers must use behavioral data and personalization to deliver on consumers expectations for messaging and offers that apply uniquely to them. One size fits no one in 2018 and marketers wi ll finally get a command on their data and begin to use it in incredible ways. See more email marketing and automation predictions for 2018 in Campaign Monitor’s 2018 Email Marketing Predictions. The future of email is lit! Kim Courvoisier is a seasoned digital marketing leader specializing in B2B and B2C content marketing, social media, email marketing, customer lifecycle marketing, and SEO. She builds and leads the inbound content strategy to drive lead generation and boost organic traffic, among much more, at Campaign Monitor. 2018’s most successful marketers must OWN the customer lifecycle and own it like they never have...Less â€Å"Marketing†, More Listening Adam Hutchinson, Head Of Marketing At Socedo It's time to strip out the jargon (or worse, sales speak) from our marketing messages, and we need to put human conversations front and center. With buyers bombarded by ads, emails, and cold calls, response rates continue to decline, but marketers are seeing drastic improvements by engaging in existing, meaningful conversations and talking to their audience as people, not just customers. For example, taking a look at some of the most successful B2B social media campaigns from 2017, we can see some common trends: highlighting actual people, leveraging relationships, and using simple, relatable language and imagery. Social is a great place to start, but this needs to be true across tactics, whether it's telling compelling stories in email campaigns or writing content that speaks to personal interests and concerns. It all starts with listening to the right conversations in the first place, and the most successful marketers will turn to social listening tools, intent data providers, and content analytics platforms to understand what the people in their audience care about most. Adam Hutchinson is the Head of Marketing at Socedo. Socedo helps B2B marketers discover, engage, and convert leads using real-time behavioral social data. It's time to strip out the jargon (or worse, sales speak) from our marketing messages.Sometimes, You Have To Pay To Play Chris Von Wilpert, Chief Content Sumo At Sumo Group If I channel the fortune-telling energy from Noah and answer related to content, I would say: â€Å"The most successful marketers in 2018 will use paid to promote their organic. There are so many great content creators out there today, the biggest shift will come from marketers who can master the skill of promoting their content profitably with paid traffic. The rest will die on the content pile of death.† Chris Von Wilpert is the Chief Content Sumo at Sumo Group  where he’s growing the Sumo.com blog from 100k/mo to 500k/mo unique website visitors. The most successful marketers in 2018 will use paid to promote their organic.Stand Out With Competition-Free Content Garrett Moon, CEO And Co-Founder Of , Author Of The 10x Marketing Formula The most successful marketers will create competition-free content that stands out. Content marketing isn’t living up to the hype. Instead of delivering upon its promises of extreme growth, we’ve plunged into the â€Å"trough of disillusionment.† Instead of creating â€Å"copycat† content- which is essentially copying and pasting examples from others- you need to embrace the 10x Marketing Formula. So what’s that? You need to ditch playing follow the leader and start thinking like scrappy startups. It’s results or die. And startups know this better than anyone. Instead of doing what’s safe and comfortable, startups embrace risk and innovation. They reward it. The 10x Marketing Formula is about finding the paths no one else has taken to differentiate yourself and ultimately grow your results 10 times over. The 10x Marketing Formula is about finding the paths no one else has taken to differentiate...4 Key Takeaways From Your 2018 Marketing Predictions First, let’s recap some of the broader 2018 marketing trends from these predictions†¦ ...in 2018, successful marketers will: Be agile, embrace new, and test:  There will (obviously) be new marketing trends that emerge in 2018. Instead of pushing all of your resources into these fads, test them, then embrace what works. Paying to promote your content may be part of this- as marketing enters the trough of disillusionment, your strategy needs to pivot. Scale what you know already works:  Just because new stuff will inevitably come doesn’t mean you should embrace it right away. What you’re already doing is likely already working†¦ so how can you scale it  to get even bigger results? This ties into optimizing old content  and repurposing it. Listen to their  audience, and measure their efforts:  To seriously understand what works while embracing the new (and continue doing what you know already works), you need to listen to your prospects and measure the return on existing marketing projects. This is huge. Successful marketers are 242% more likely to report conducting audience research  at least once per quarter. Personalize content across the customer life cycle:  It’s impossible to plan the funnel experience at a macro level. That said, every click, view, and action indicates a personal level of interest. Based upon that data, you can customize the experiences for specific people who are getting to know your business to strategically lead them closer to that point of purchase.The four things successful marketers will do in 2018 are ...^^^ If you remember the beginning of this article, I asked for this advice so I could use it at †¦ So†¦ What Is Planning For 2018? Well, I wouldn’t plan it if I didn’t predict it to be successful†¦ right? ;) So very soon, you’ll see the demand generation team here at (listed as prioritized): Personalize the content you receive based on your activity:  We’re already working on enhancing your experience with this blog and well beyond. Some of that includes testing new things, covering even more topics like change management, integrated marketing communications, pitching ideas to your team and boss, and a whole lot more. So look forward to it! Continue scaling what we know you love:  We’ll continue analyzing blog post success  and repeating home runs we know you’ll love. Part of that includes our historical optimization process where we update older content to seriously help you solve your biggest marketing challenges. In addition, I see more guides  in our future, more course  releases, and more webinars. Test new:  We have a couple more ideas for freemium tools that will complement the headline analyzer  and social message optimizer. *Insert shriek of excitement here.* An advanced marketing academy is on our radar. And†¦ of course†¦ we’ll publish that book we started  writing in 2017 that I predicted would happen  about a year ago (lol). And, of course, we’ll listen to you every step of the way. ;)

Economic performance of Russia and India (2010-2012) Essay

Economic performance of Russia and India (2010-2012) - Essay Example ate 2012 2011 2010 Russia 6.0% 6.5% 7.5% India 9.9% 9.8% 10% Source: CIA, 2013b; Statista, 2013a, b Gross Domestic Product (GDP) Gross domestic product (GDP) is defined as â€Å"the sum of market value of all final goods and services produced in a country during a specfic period of time, generally one year†7 (Dwivedi, 2010, p. 5). In Russia, the country’s GDP has signficantly increased from $2.322 trillion in 2010 up to $2.509 trillion in 20128 (CIA, 2013a). The signficant growth rate in Russia’s GDP somehow explains why this country had a gradually decreasing unemployment rate. Since demand for final goods and services increases, demand for more jobs also increases. In India, the country’s GDP also increased from $4.205 trillion in 2010 as compared to $4.735 trillion in 20129 (CIA, 2013b). In general, the real GDP values considers the impact of inflation rate on GDP whereas a nominal GDP values does not. For this reason, figures that are related to real G DP is considered as a more accurate economic indicator as compared to the nominal GDP values. In line with this, the GDP’s real growth rate in India (5.4% in 2012) is much higher as compared to the GDP’s real growth rate in Russia (3.6% in 2012)10, 11 (CIA, 2013a, b). Gross Domestic Product (GDP) 2012 2011 2010 Russia $2.509 trillion $2.422 trillion $2.322 trillion India $4.735 trillion $4.492 trillion $ 4.205 trillion Source: CIA, 2013a, b GDP – Real Growth Rate 2012 2011 2010 Russia 3.6% 4.3% 4.3% India 5.4% 6.8% 10.1% Source: CIA, 2013a, b The per capita real GDP is part of the macroeconomic indicator that focuses on dividing the real GDP with the number of population in each country12 (Boyes and Melvin, 2013, p. 359). As of 2013, the total population in Russia is only 141.44 million as compared to... This paper is the best example of comparison of economic development of India and Russia in terms of economic growth during 2010-2012 Key economic indicators are commonly used to determine the overall economic performance of a country. Using marcro-economic indicators such as unemployment rate, inflation rate, and balance of payment among others, it is possible to detect whether or not there is an economic growth in each country. Economic growth is defined as the increase in production of goods and services that occurs over long periods of time This report is composed of two major parts. The firts part will focus on applying and discussing the significance of macro-economic indicators such as unemployment rate, inflation rate, balance of payment, exchange rate, and growth indicators like gross domestic product (GDP) in the case of Russia and India. The second part focus on discussing the domestic and foreign factors which triggers fluctuations in some of these economic indicators. Unemployment rate is defined as the number of unemployed people who want to have a job but do not have one Gross domestic product (GDP) is defined as the sum of market value of all final goods and services produced in a country during a specfic period of time, generally one year Inflation rate is defined as the percentage change in some measure of the price level from one period to the next the balance of payment is defined as the â€Å"statistical statement that systematically summarizes, for a specific period of time, the economic transactions of an economy with the rest of the world The research conducted clearly shows that Russia was benefiting from a good economic growth whereas India was experiencing a worst economic growth.

Exam_4 Essay Example | Topics and Well Written Essays - 1000 words

Exam_4 - Essay Example These components are applied in operational management allowing the management to access up-to-date data in real-time. Therefore, operational analytics offer an insight of the data within a data warehouse because it allows greater visibility of the various forms of data at a great speed (Turban, Sharda, Delen & King, 2010). OLAP (Online Analytic Processing) is the commonly used technique in data analysis employed within data warehouses driven by the increase in data volumes and the value of data-driven analytics in business. OLAP is also referred to as the capability to effectively manipulate and analyze data from various perspectives using its operational structure that relies in the concept known as cube. This concept has a multidimensional data structure that allows fast analysis of data because arrangement of data into cubes overcomes the limitations associated with relational databases (Turban, Sharda, Delen & King, 2010). KPI (Key Performance Indicator) represents a strategic objective and measures performance against a goal. KPIs are multidimensional and upon translation, this indicates that KPIs encompass various unique features. One of the distinguishing features includes strategy because KPIs embody a strategic objective. Moreover, KPIs measure performance against specific targets that are defined within the strategy, planning, or budget allowing the targets to take different forms like achievement targets, reduction targets and absolute targets among others. KPIs also have ranges because objectives have performance measures like above, on or below the target. Encoding in KPIs allow ranges to be encoded in software enabling the display of performance through colours like green, yellow and red based on percentages or other complex rules. Time frames in KPI mean that targets are assigned time frames within which they have to be accomplished; as well, the time frames are often divided into small int ervals to allow monitoring of performance