Rcsc214 Exam 1

Chapter 1 Retailing-consists of the final activities and steps needed to place merchandise made elsewhere into the hands of the consumer or to provide services to the consumer. Last step in supply chain. Trends that affect Retailing today: * E-tailing- ie. The Internet accounts for less than 5% of retail sales but has changed consumer behavior. (speed, convenience, control, vast info, lowest prices) hasn’t destroyed †¦ *Bricks-and-Mortar retailers – Retailers that operate out of a physical building. ’ but B & M retailers must give customers more control to combat E-tailing.Outshopping-when customers get needed info (such as proper size or how to assemble a product) in the store and then orders it online for a lower price and to avoid paying sales tax. * Price Competition Loss Leader-selling a product at or below its cost Bottom Line-net profit on an income statement *Same-Store sales-compares an individual store’s sales to its sales for the same month in the previous year. *Market Share-the retailer’s total sales divided by total market sales *Scrambled Merchandising- exists when a retailer handles many different and unrelated items.The result of the pressure being placed on many retailers to increase profits by carrying additional merchandise or services (with higher profit margins) that will also increase store traffic ex. Convenience store that sells low margin gasoline but high margin bread, milk, beer, ciggs ETC. Supercenters, gift cards in grocery stores but causes cost increases in RENT, INVENTORY COSTS, LABOR COSTs *Category Killer-a retailer that carries such a large amount of merchandise in a single category at such good prices that it makes it impossible for customers to walk out without purchasing that they need, thus KILLING the competitionCategorizing Retailers Census Bureau- NAICS code Number of outlets- Chain? Or not? *Standard Stock list-a merchandising method in which all stores in a retail chain stock t he same merchandise *Optional Stock List approach-merchandising method in which each store in a retail chain is given the flexibility to adjust its merchandise mix to local tastes and demands. *Channel Advisor or Captain-the institution (manufacturer, wholesaler, broker, or retailer) in the marketing channel that is able to plan for and get other channel institutions to engage in activities they might not otherwise engage in.Large store retailers are often able to perform the role of channel captain. *Private Label Branding- May be store branding, when a retailer develops its own brand name and contracts with a manufacturer to produce the product with the retailer’s brand, or designer lines, where a known designer develops a line exclusively for the retailer. Margin/Turnover Gross margin percentage- measure of profitability GROSS MARGIN/NETSALES Gross Margin-NET SALES – COST OF GOODS SOLDOperating Expenses-expenses that a retailer incurs in running the business other t han the cost of merchandise Inventory Turnover- refers to the number of times per year, on average, that a retailer sells its inventory. High Performance retailers-retailers that produce financial results substantially superior to the industry average. Low margin/low turnover-operates on a low gross margin percentage and a low rate of inventory turnover†¦ will not be able to generate sufficient profits to remain competitive and survive. High Margin/Low turnover-(bricks and mortar) high gross margin percentage and low ate of inventory turnover ( high end stores, mom and pop) Clicks and Mortar-instore and online Low margin High turnover- low gmp, high rate of inventory turnover (wal mart, amazon. com) High, High- convenience stores, 7 eleven, circle k, Location- new non traditional places. Size *Store management- the retailing career path that involves responsibility for selecting, training, and evaluating personnel, as well as instore promotions, displays, customer service, buil ding maintenance, and security *Buying-retailing career path whereby one uses quantitative tools to develop appropriate buying plans for the store’s merchandise lines.Analytical method –finder and investigator of facts Creative Method- Idea person Two pronged approach- both analytical and creative CHAPTER 2 Strategic planning- involves adapting the resources of the firm to the opportunities and threats of an ever changing retail environment * Development of mission statement * Definition of specific goals and objectives for the firm * Identification and analysis of the retailers strengths, weaknesses, opportunities and threats –SWOT ANALYIS * Development of basic strategies that will enable the firm to reach its objectives and fulfill its missionMission statement- a basic description of the fundamental nature, rationale, and direction of the firm. Market Share- retailer’s TOTAL SALES/ TOTAL MARKET SALES Profit-based Objectives-deal directly with the monet ary return a retailer desires from its business ROI/RONW- Return on investment/ Return on Net Worth STRATIEGIC PROFIT MODEL (MEMORIZE) Net ProfitMargin| Net Profit /Total Sales| Return on Assets| Net Profit* /Total Assets| Financial Leverage| Total Assets/Net Worth| Return on Net Worth|Net Profit*/Net Worth| X = Asset Turnover| Total Sales/Total Assets| Stockouts- products that are out of stock and therefore unavailable to customers when they want them Productivity objectives- state how much output the retailer desires for each unit of resource input: Floor space, labor, and inventory investment. * Sales prod: net sales/ total square feet of retail floor space * Labor prod: net sales/#of full time equivalent employees * Merchandise prod: net sales/average dollar investment in inventorySocietal Objectives- those that reflect the retailer’s desire to help society fulfill some of it’s needs. * Employment objectives * Payment of Taxes * Consumer Choice * Equity * Being a b enefactor RASM- (revenue per available seat mile) calculation used by airlines. Yield Management- the understanding, anticipating and reacting to changing customer needs in order to maximize the revenue from a fixed capacity of available services. (1)low marginal costs (2)fixed capacity (3) perishable product (4)fluctuation demand (5)different market segmentsPersonal Objectives-reflect the retailer’s desire to help individuals employed in retailing fulfill some of their needs. * Self Gratification * Status and respect * Power and authority Strategy- a carefully designed plan for achieving the retailers goals and objectives. 3 strategies Get shoppers into your store/ traffic strategy Convert these shoppers into customers by having them purchase merchandise (retailers conversion Do this at the lowest operating cost possible that is consistent with the level of service that your customers expectTarget market-the group of customers that the retailer is seeking to serve Location-g eographic or cyber space where the retailer conducts business Retail mix- the combination of merchandise, price, advertising and promotion, locations, customer service and selling, and store layout and design Value proposition- clear statement of the tangible and/or intangible results a customer receives from shopping at and using the retailer’s products or services Operations Management- deals with activities directed at maximizing the efficiency of the retailer’s use of resources. It is frequently referred to as day to day management.CHAPTER 6 Horizontal Price Fixing- occurs when a group of competing retailers (or other channel members operating at a given level of distribution) establishes a fixed price at which to sell certain brands of products ILLEGAL violates Sherman Antitrust Sec 1 Vertical Price Fixing-occurs when a retailer collaborates with the manufacturer or wholesaler to resell an item at an agreed upon price Price discrimination- occurs when 2 retailers buy an identical amount of â€Å"like grade and quality† merchandise from the same supplier but pay different prices. Clayton act makes only certain forms illegal DEFENSESCost justification- differential in price could be accounted for on the basis of differences in cost to the seller in the manufactur, sale, or delivery. Due to differences in quantity or method. Changing market differences-justifies based on the danger of imminent deterioration of perishable goods or on the obsolescence of seasonal goods. Meeting Competition in good faith -lower price was made in good faith in order to meet an equally low price of a competitor Deceptive Pricing-occurs when an misleading price is used to lure customers into the store and then hidden charges are added; or the item advertised may be unavailable.Predatory Pricing-exists when a retail chain charges different prices in different geographic areas to eliminate competition in selected geographic areas. Palming off-occurs when a retai ler represents that merchandise is made by a firm other than the true manufacturer Deceptive advertising-when a retailer makes false of misleading advertising claims about the physical makeup of a product, the benefits to be gained by its use, or the appropriate uses for the product. Bait and switch- advertising or promoting a product at an unrealistically low rice to serve as â€Å"bait† and then trying to â€Å"switch† the customer to a higher priced product. Product liability laws-deal with the seller’s responsibility to market safe products. These laws invoke the forseeability doctrine, which states that a seller of a product must attempt to foresee how a product may be misused and warn the consumer against hazards of misuse. Expressed warranties- are either written or verbalized agreements about the performance of a product and can cover all attributes of the merchandise or only one attributeImplied warranty of merchantability- made by every retailer when t he retailer sells goods and implies that the merchandise sold is fit for the ordinary purpose for which such goods are typically used Implied warranty of fitness- a warranty that implies that the merchandise is fit for a particular purpose and arises when the customer relies on the retailer to assist or make the selection of goods to serve a particular purpose Territorial restrictions-are attempts by the supplier, usually a manufacturer, to limit the geographic area in which a retailer may resell its merchandiseDual distribution- occurs when a manufacturer sells to independent retailers and also through its own retail outlets One way exclusive dealing arrangement-occurs when the supplier agrees to give the retailer the exclusive right to sell the suppliers product in a particular trade area Two way exclusive dealing arrangement- occurs when the supplier offers the retailer the exclusive distribution of a merchandise line or product in a particular trade area if in return the retaile r will agree to do something or the manufacturer, such as heavily promote the suppliers products or not handle competing brands. ILLEGAL. Tying agreement-exists when a seller with a strong product or service requires a buyer to purchase a weak product or service as a condition for buying the strong product or service Ethics-set of rules for human moral behavior Explicit code of ethics-consists of a written policy that states what is ethical and unethical behavior Implicit code of ethics- an unwritten but well understood set of rules or standards of moral responsibility Chapter 14Empowerment- occurs when employees are given the power in their jobs to do the things necessary to satisfy and make things right for customers. Servant leadership-an employees recognition that their primary responsibility is to be of service to others. 20% of customers generate 80% of sales value proposition-the promised benefits a retailer offers in relation to the cost the consumer incurs customer relation ship management CRM-comprised of an integrated information system where the fundamental unit of data collection is the customer, supplemented by relevant information about the customer erformance appraisal and review- is the formal, systematic assessment of how well employees are performing their jobs in relation to established standards and the communication of that assessment to employees Motivation-is the drive that a person has to excel at activities, such as a job, that he or she undertakes Esprit de corps- occurs when a group of workers feel a common mission and a passion for that mission and a pride in being part of the groupFixed component- typically is composed of some base wage per hour, week, month, or year Variable component-is often composed if some bonus that is received if performance warrants Fringe benefit package-is a part of the total compensation package offered to many retail employees and may include health insurance, disability benefits, life insurance, retire ment plans, child care, use of an auto, and financial counseling Job enrichment- the process of enhancing the core job characteristics to improve the motivation, productivity, and job satisfaction of employees.

Animals Should Be Used in Scientific Research Essay Example for Free

Animals Should Be Used in Scientific Research Essay Over 100 million animals are used every year in the United States as models in biological and medical research to study human disease, injury, development, psychology, and anatomy and physiology. Research involving animals has played a vital role in virtually every major medical advance of the last century. Even today, there is no complete alternative to biomedical research with animals. The vast majority of research animals are mice and rats bred for this purpose. Dogs, cats, and non-human primates together account for less than one-half of one percent of the total, and this number has declined for more than 25 years. Since 1979, the number of dogs and cats needed in animal research has declined by more than 50%. The number of non-human primates needed represents less than .2% (.18% in 2004) and has remained relatively constant—in the 50,000 per year range—for the past decade. The history behind animals being used in scientific research is that is started In Europe and in the US by the early 1900’s and especially during and following World War I the benefits of animal research continued to be recognized. Following the Nuremberg Trials for atrocities by the Nazi’s during World War II, society spoke loudly demanding no research on humans until animal research had made such research a reasonable risk. Today, the majority of people in our society do agree with the idea of the humane and responsible use of animals in research. There is safeguard standards for scientific studies on animals * The USDA has set forth federal regulations governing the care and use of animals in biomedical research that are considered even more extensive than those covering human research subjects. * The Animal Welfare Act sets standards of care for research animals with regard to their housing, feeding, cleanliness, ventilation, and medical needs and requires the use of anesthesia or analgesic drugs for potentially painful procedures and during post-operative care. * The US Public Health Service Act requires that all institutions receiving research funds from NIH, FDA, or CDC adhere to the standards set out in the â€Å"Guide for the Care and Use of Laboratory Animals†. * Institutions must follow detailed animal care recommendations and establish an IACUC to ensure that all animals are treated responsibly and humanely Some people think that all animals that are in scientific research are in pain or distress while undergoing the research that is not necessarily true. The 2004 USDA Annual Report reveals that 57% of all research procedures with animals involved no more than slight or momentary pain or distress (i.e., an injection). In 34% of research procedures anesthesia and postoperative painkillers were used. In 9% of the procedures, neither anesthesia nor pain medication could be used, as they would have interfered with research results. Scientific Perspectives Here are 4 reasons why animals are used in research: 1. The principles of anatomy and physiology are true for humans and animals, especially mammals. Once scientists learned that animals were similar to humans, in physiology and anatomy, it became preferable to use animals rather than humans for preliminary research. 2. Certain strains or breeds of animals get the same diseases or conditions as humans. â€Å"Animal Models† are frequently critical to understanding a disease and developing appropriate treatments. 3. Research meant introducing one variable and observing the results of that one item. With animals we can control their environment (temperature, humidity, etc.), and shield them from diseases or conditions not related to the research (control their health). Although human and animals get the disease that may be the subject of a research investigation, the different life styles or living conditions make them poor subjects until preliminary research under controlled conditions has been done. 4. We can use scientifically-v alid numbers of animals. Data from one animal or human is not research; it is a case study. To scientifically test a hypothesis, an adequate number of subjects must be used to statistically test the results of the research. Some individuals claim that we should use human or animals that have a disease to study that disease. Certainly, epidemiological studies (tracking the occurrence of a disease or condition) have provided many important insights into the cause of a disease or a condition, especially when an environmental aspect is responsible. However, epidemiological studies are successful in only a limited number of situations. Only if the study of a disease is severely hindered or not possible when the research subjects have been/are exposed to a variety of environmental factors. According to the American Medical Association, humans are the most frequently used animal in research. However, research studies conducted on humans follow preliminary studies conducted in animals. These animal studies make human studies a reasonable risk. The animal studies are not a guarantee of success, but they do tell us that the human research has a reasonable probability of success. Animals Should Be Used in Scientific Research. (2017, Feb 09).

Emotionl litercy interventions in the prevention of bullying within Essay

Emotionl litercy interventions in the prevention of bullying within the pstorl system of school - Essay Example Bullying is now recognized s common form of victimiztion on British school cmpuses nd significnt school sfety problem (Nnsel et l., 2001). This pper provides thoughtful conceptul nd prcticl informtion for school psychologists, who cn ply centrl role in the schools' response to this growing concern bout school bullying t pstorl clsses. The pper ims to review nd expnd on topics discussed, prticulrly s they relte to the British school context in mong pstorl students. Reching ntionl consensus on school bullying represents significnt chllenge tht will require blncing needs cross reserchers, eductors, nd public policy mkers. Whtever the effectiveness of specific bully prevention progrms, the ntionl effort to minimize the negtive effects of bullying will need to ddress fundmentl mtters relted to the definition of school bullying nd the trnsltion of best reserch prctices into public policy nd eductionl prctice t the school site level. I suggest tht clrity on mtters of definition is of the ut most importnce. First, it is needed for the scientific purpose of hving precision in wht is being studied. Second, it is needed becuse lck of common understnding bout wht constitutes bullying could result in confusing rry of ntionl, stte, nd locl policies nd responses to the problems creted by bullying. Rtionl Literture review Bullying behvior mong students hs long been disruptive fctor in the eductionl relm nd continues t thretening level, ffecting the emotionl nd physicl sfety of students (Grrity, Jens, Porter, Syger, & Short-Cmilli, 2005). It ws estimted tht 160,000 children miss school ech dy becuse of fer (Solberg, Olweus 2003). Bullying, mjor cuse of this fer, keeps children from perceiving school s sfe environment. Unfortuntely, mny of these children re reluctnt to request id from school stff for fer of reprisls nd becuse of indequte protection. School for mny is not the sfe, lerning environment it ws intended to be. Mny students re nxious bout witnessing bullying nd fer tht they my become victims of bullying if they hve not lredy been trgeted. Given the misery tht thousnds of children endure dffy over the course of severl yers of eduction, the problems surrounding bullying should not be ignored or simply tolerted. Mny techers ignore bullying becuse they believe they lck dequte skills nd trining to intervene, they fer tht intervening in bullying sitution will only dd fuel to the fire, or they fer tht their involvement would force the problem "underground" (Olweus, 1994).Two out of three students report tht techers hndle the problems of bullying indequtely. Mny students surmise tht their techers re not cogniznt of problems becuse bullying often ppers to go unnoticed by the techers. In fct, bullying incidents re rrely brought to the techer's ttention unless there is serious incident. Techers ply criticl role in snctioning the bullying behvior tht occurs in the schools, either intentionlly or unintentionlly. Hence, "bullying will never be eliminted unless techers nd children become prtners in this crusde ginst cruelty" (Orpins, Home, Stniszewski,

Patient expierence undergoing surgery Essay Example | Topics and Well Written Essays - 1000 words - 1

Patient expierence undergoing surgery - Essay Example Surgery represents a major trauma that provokes a relatively stereotyped physiological response. A period of postoperative recovery follows, ranging from a few days to several weeks depending, primarily, on the severity of the pre-existing pathology and the surgical procedure performed (Munafo & Stevenson, 2001). For many patients, undergoing surgery can be a daunting thought. It has been shown that the majority of patients admitted to hospital for elective surgery experience anxiety preoperatively. The cause for pre-operative anxiety can be attributed to many factors. Personal factors may include fear for the unknown outcome of the surgery, as some very risky surgical procedures can result in paralysis, coma and death, as the worst case scenario. Some patients also experience anxiety concerning the impact of their condition to their loved ones. Monetary issues as to the cost of the surgery itself, pre and post ancillary procedures, medications and hospital rates is also known to be a major cause of anxiety for most patients. Anxiety and stress are unpleasant sensations and can also adversely influence the surgical procedure as well as affect the patients recovery (Badner, Nielson, Munk, Kwiatkowska & Gelb, 1990). Therefore, it is the objective of this paper to determine the physiological effects of surgical interventions as well as positioning on the patient, taking into consideration the effects of anxiety and stress on a patients perspective. For this case, the surgical procedure being used as an example is hysterectomy. Hysterectomy is defined as the surgical removal of the uterus. The three common types of hysterectomy are: supracervical (partial) hysterectomy, which is the removal of the uterus without the cervix, total (complete) hysterectomy which is the removal of both uterus and cervix and radical hysterectomy which removes the ovaries, fallopian tubes, lymph

Preventative Education Essay Example | Topics and Well Written Essays - 1250 words

Preventative Education - Essay Example Since COPD is primarily a disease related to excessive or long-term smoking and is completely preventable from both a pharmacological and non-pharmacological perspective and there are numerous methods that can be implemented to focus on the prevention, accurate diagnosis, and management of this disease (Barnett, 2009). Through a comprehensive understanding of the disease, as well as the physical, psychological and social impact COPD has on the patient, their careers, and their families, healthcare professionals will be better equipped to comprise management plans that are effective in all the affected areas of the patient’s life (Barnett, 2009). Formulating a collaborative approach that includes working with other healthcare professionals relative to the patient’s care like physiotherapists, occupational therapists, district nurses and social workers will enable a holistic approach to the patient’s care to be established and maintained (Barnett, 2009). Through th is approach, the healthcare professional can help the patient examine numerous aspects of their lifestyle that may be detrimental to their health and exacerbate their COPD. Providing the patient with complete care and information is the most vital tool a nurse can provide to their patient. In the instigation of preventative routines, successful implementation of a case management scheme including the medical interventions available can help establish a routine of such care within the institution. Even though the current treatments are limited in helping relieve symptoms, nurses can do a lot to help educate patients and enable them to cope with their condition to reduce the progression of the disease (Barnett, 2006). The most vital piece of information a... This paper approves that many opportunities for health promotion through patient education are underutilized in all aspects of healthcare. Through education, nurses can develop the skills necessary to use every opportunity for promoting health in everyday practice and help their patients become educated in various methods to promote and preserve their own well-being. Keeping the needs of the facility and the needs of the patient balanced is the duty of the nurse and proper case management will help the nurse keep these contradictory aspects well in hand. This essay makes a conclusion that incorporating theories of holistic care with those of case management can help the nurse provide the best care possible for the patient at the lowest cost to the institution. COPD is a systemic disease with high and increasing worldwide prevalence. The onset of this disease has been associated with both individual and community-based factors and COPD is usually the result of a combination of these factors. Numerous strategies are available to manage or prevent COPD, and nursing education is needed to empower nurses to educate their patients and present proper solutions through case management schemes that will benefit the patients and the institutions through effective, cost-minimal methods of treatment. Nurses all over the world have important roles in fighting the COPD pandemic and health promotion is the best tool available to keep healthy people healthy as long as possible.

International finance management Research Paper

International finance management - Research Paper Example The issuers of the obligations/securities might include companies, various special purpose related entities, local governments, states, nonprofit seeking organizations and/or sovereign nations. There are various credit rating agencies which provide credit ratings. The agency or company which has been selected in this project is Moody’s Investors Service. Moody’s Investor Services Moody’s Investors Services, also referred as Moody’s, is a bond credit rating business under the Moody’s Corporation (Moody’s Corporation, 2011; Bloomberg Businessweek, 2013). It provides financial research on the bonds which are issued by the government and commercial entities along with Fitch Group and Standard & Poor’s. It is considered as one among the Three Big Credit Rating Agencies. ... It produces research for the government entities, corporations, and finance securities. The main objective of the business is helping the investors in assessing the credit risk. Moody’s Investors Service has set a goal of offering the best sought-after ‘credit’ opinions to all the sectors involved in the fixed income market. Moody’s Investors Services is one of the leading providers of the credit ratings and research & risk analysis. The expertise and commitment of the business contributes towards transparency and formation of integrated financial markets by means of protection of the integrity of credit. The ratings and analysis department of this business tracks debt of more than 115 different countries 10000 corporate issuers. 82000 finance obligations (structured). 22000 public finance issuance companies. These credit rating services provided by the business helps the investors in analyzing the credit risks related to the fixed income securities. The in dependent and accurate credit ratings as well as risk analysis contributes in the increase of efficiency in the fixed income markets and other related obligations like the insurance policies, derivative transactions etc, by means of offering independent and credible credit risk assessment guiding the investors (Moody’s Corporation, 2013b). ‘Moody’s default studies’ helps in validating the predictive ratings. The published research and investors briefings help in bringing in thousands or even more attendees every year and keeps the investors up to date with the rationale underlying the credit opinions. Functions in capital markets Closest competitors of Moody’s Investors Service are Fitch Group and Standard & Poor. These three

Lengthening the School Day Article Example | Topics and Well Written Essays - 500 words

Lengthening the School Day - Article Example The proposal to lengthen the school day, therefore, creates new opportunities for students, teachers, and parents. Moreover, time with family after the school day would enhance family interactions and relationships. Students would have less homework because the school day is long enough to take care of academic activities. Contrary to the benefits of the longer school day, lengthening the school day is not without its disadvantages. A longer school day would negatively affect students’ attention. Extra time in school, according to Sprague, Douglas, and David (434), could result in attention deficit, fatigue, and subsequent ineffective curricular activities within that time. On the same note, longer hours at school do not necessarily translate to improved teacher productivity or student performance. In that regard, scores may fail to improve as school day hour increase. Most importantly, a longer school day requires additional funding due to an accompanying increase in suppleme ntal resources. In light of the above discussion, the cons of lengthening the school day outweigh the pros. A longer school day would be an additional individual, social, financial, and academic burden to almost every stakeholder in the education sector. Instead of lengthening the school day, proposers of this move should consider making the current school day more effective and efficient. It is important to ensure that the current school day operates to its full potential before considering additional hours.