The Hobbit Double Entry Journal Prompts free essay sample

Although the men keep alive old traditions in a new era, this quote symbolizes how the majority of things have changed in this world. This excerpt situates the dwarves in the present time frame where power has shifted to evil forces, how the dwarves lost control of their mountain city, and also how old legendary maps don’t so well in a new environment. The men never really experienced what it was like to live in a time where everyone and everything blended harmoniously. After reading this in the book, I immediately made a mental connection to a memory of the 6th grade. At the peak of the swine flu epidemic, my school started to administer vaccines to protect the students against the disease. I forgot to hand in a consent form to give them permission for a vaccine, so instead of getting a vaccine, I got the nasal mist in my nose. We will write a custom essay sample on The Hobbit Double Entry Journal Prompts or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The nurse asked me what my favorite fruit was, and I replied â€Å"umm.. apples! † Not knowing what it was for, she made the thick goo they shot up my nose apple flavored. This was probably one of the weirdest feelings I have ever experienced. Just like Fili, I did not want to smell apples for a long time. This excerpt I picked reminds me of a part of the Odyssey. The specific part I am referencing to is the Suitors. After learning how expensive it is to have company over for an occasion, the connection I made between both pieces of literature only emphasizes this idea by giving more evidence. â€Å"Not at any rate until the songs have come true! † (Tolkien 186) â€Å"They beat on it, they thrust and pushed at it, they implored it to move, they spoke fragments of broken spells of opening, and nothing stirred. † (Tolkien 190) â€Å"Tomorrow begins the last week of autumn. Said Thorin one say. â€Å"And winter comes after autumn,† said Bifur. â€Å"And next year after that,† said Dwalin, â€Å"and our beards will grow till they hang down the cliff to the valley before anything happens here. † (Tolkien 193) I purposely picked this quote to talk about my reasoning of how these words relate to the current generation of music. There is little or no rate of songs that are produced today that stay true to the art of music. For starters, most songs today aren’t even made with â€Å"real† instruments. Secondly, almost all of the big time artists are auto-tuned. It isn’t the strongest reference I have made, but I just can’t stand how the stuff they call music is so greatly praised. As the group searches for the secret entrance Elrond has promised the dwarves based on the map, their failure to open the door foreshadows further struggle. The group will encounter more forms of resistance, because this isn’t even the worst part of their luck they have been blessed with. This quote also shows the much repeated theme of perseverance displayed throughout the novel. The excerpt I presented here shows how the race against time is presented for the crew. This is because they do not have forever to complete their tasks. Since they get agitated at how long parts of their quest take, it highlights qualities of the average Joe that they possess. They are not a group of godly, or immortal beings. We saw them cut down to size similarly when they were trapped by the wolves. â€Å"The most that can be said for the dwarves it this: they intended to pay Bilbo really handsomely for his services; they had brought him to do a nasty job for them. And they did not mind the poor little fellow doing it if he would: bit they would all have done their best to get him out of trouble, if he got into it† (Tolkien 196) I have absolutely no use for dragon-guarded treasures and the whole lot could stay here forever, if only I could wake up and find this beastly tunnel was my own front-hall at home† (Tolkien 198) â€Å"†¦but rising from the near side of the rocky floor there is a great glow. The glow of the Smaug! † (Tolkien 200) I ha d to chew this quote up a little bit and ponder upon it. A side of the dwarves that has not yet been shown is expressed here. I believe it is greed. The dwarves seem to be using Bilbo for his talents – which make up a good thief. There isn’t much to say about the dwarves if they used Bilbo all along as their scapegoat. Bilbo speaks for himself in this quote. He is not there to be someone’s tag along. He has a mind of his own and knows what is right and wrong. He also yearns for the safety and comfort of his own home when thrown into the midst of a sticky situation. I can say that Bilbo is a very convincing being. I specifically picked this quote because we have heard of the dragon throughout the whole book, but this is the first actual account we have about Bilbo’s encounter with the dragon – first hand. The dragon is pictured as any other dragon from a mythical tale would be. The first and most important trait being the dragon having firey breath. It is because of the dragon’s ability to promote havoc that gives the story an interesting outcome. â€Å"Now do be careful! † whispered the hobbit, â€Å"and as quiet as you can be! There may be no Smaug at the bottom, but then again, there may be† (Tolkien 215) â€Å"Suddenly Bilbo’s arm went towards it drawn by its enchantment. His small hand would not close about it, for it was a large and heavy gem; but he lifted it, shut his eyes and put it in his deepest pocket. (Tolkien 217) â€Å"Hear, hear! † cried Bilbo, and flung himself on the ground. In the rock-chamber there would have been room for a hundred and there was a small chamber in the back. There they laid out all of their burdens. †(Tolkien 224) I like this quote because it emphasizes Bilbo’s resourcefulness. He thinks through ever y possible consequence before he acts. This is a very useful trait to have, especially for someone that is on an adventure where one silly mistake can prove fatal. Acting so vigilantly will later prove fruitful for Bilbo. This is a substantial quote in a rather small chapter. Here we are introduced to the turning point of the story – the Arkenstone. This is just one of the few treasures Bilbo retrieves. The arkenstone is one of the main reasons Thorin set out to reclaim what was once his ancestors’. This quote also foreshadows Bilbo’s future resourcefulness. After reading the rest of the story, I noticed that the men start to reclaim what is theirs. It almost acts as a foreshadowing tool. The men, especially Thorin, know what’s rightfully theirs and how it has been taken from them. It will only be a matter of time before they find out if they can hold on to their newly conquered area. â€Å"The King beneath the Mountain! They shouted. His wealth is like the Sun, his silver like a fountain, his rivers golden run! The river is running gold from the Mountain! they cried, and everywhere windows were opening and feet were hurrying† (Tolkien 226) â€Å"Already men were jumping into the water on every side. Women and children were being huddled into laden boats in the market-pool. † (Tolkien 228) â€Å"Arrow! Said the bowman. â€Å"Black arrow! I have saved you for last. You have never failed me and always I have recovered you. I had you from my father and he from of old. If ever you came from the forges of the true king under the Mountain, go now and speed well! (Tolkien 229) I interpreted this quote as a great example of dramatic irony. The townspeople, who think the golden colored river in the distance is amassed wealth, are horribly wrong. The gold is in fact, a raging dragon ready to destroy everything in its sight. Everyone starts to cry cheers of joy, when they should be crying tears of sadness. From this quote, I perceived a very strong mental image. The quote shows the true wrath of the Smaug. At the time The Hobbit was written, 1930, women and children were put first in the event of a disaster. For example, in the movie Titanic, one could see how women and children were loaded onto life boats before men. Here in this quote, if men were the first ones to give up and jump into the water, no one had a chance at survival by far. There would be no one to help others get on their way to safety. This quote stresses the theme of tradition throughout the story. Because the arrow was handed down from generations of old, it had a much higher importance. The archer believed the arrow had more â€Å"experience† seeing more time in battle situations. It is also interesting to read about how much faith was invested into his last shot. This excerpt also sparks my curiosity as to how the archer talks to the lifeless arrow like an old friend. â€Å"Now we will return to Bilbo and the dwarves. All night one of them had watched, but when morning came they had not heard or seen any sign of danger. But ever more thickly the birds were gathering. Their companies came flying from the South; and the crows that still lives about the Mountain were wheeling and crying unceasingly above. † (Tolkien 234) â€Å"Hail Thorin! Why do you fence yourself like a robber in his hold? We are not yet foes, and we rejoice that you are alive beyond our hope. We came expecting to find non living here; yet now that we are met there is matter for a parley and a council. † (Tolkien 240) â€Å"The whole place still stinks of dragon,† he grumbled to himself, and it makes me sick. And cram is beginning simply to stick in my throat. † (Tolkien 243) I picked this quote to explain how the foreshadowing of Thorin reclaiming his ancestor’s mountain cabin wraps up. The dwarves are hiding out in the mountain, and now they will have to hold off against whoever feels obligated to collect the dragon’s treasures. As the narrator switches points of views, he pictures birds thickly gathering. When you see something abnormal occur in nature, you get a feeling something bad is about to happen. This picture Tolkien painted compelled me to keep on reading. Expecting the dwarves to be dead, the humans and their allies have come to claim the dragons’ treasures. The humans mean no harm to the dwarves, and once they find them there they suggest they should split the riches. Thorin, feeling all of it is his become very defensive and abruptly declines. This is the first time in the novel I found Thorin to be so bold in his actions. Considering they greet him with an overly-polite â€Å"Hail Thorin! †, I think he should have gave them a small share for slaying the dragon. Although I am not in the situation personally, I couldn’t say what I would suggest. After finally reaching what his whole journey was driven off of, he would need time to make a decision. I find quote humorous and ironic. Thus because Thorin wanted to remain close to his newly acquired treasures, and now he has to being that the mountain is besieged. Now, Thorin has had enough of the mountain when the fun just started. â€Å"Now the days passed slowly and wearily. Many of the dwarves spent their time piling and ordering the treasure; and now Thorin spike of the Arkenstone of Thrain, and bade them eagerly to look for it in every corner. † (Tolkien 244) â€Å"I am tired of stairs and stone passages. I would give a good deal for the feel of grass at my toes. I would give a good deal for the feel of strong drink in my throat, and for a soft bed after a good supper! † (Tolkien 246) â€Å"All in good time! † said Gandalf. â€Å"Things are drawing towards the end now, unless I am mistaken. There is an unpleasant time just in front of you; but keep your heart up! You may come through all right. There us news brewing that not even ravens have heard. Good night! † (Tolkien 249) This is one of my most favorite examples of dramatic irony I came across in the novel. Thorin is searching for the Arkenstone restlessly. What he doesn’t know is that Bilbo swiftly retrieved it on one of his first adventures into the mountain. At one point Bilbo gets worried after Thorin says he would put his life on the stone to get it back. Bilbo doesn’t want a conflict to erupt between the three races. The dramatic irony throughout this novel up to this point made it much more fun to read. Eventually Bilbo is tired of sticking it out in the mountain. He longs for him humble life so he takes matters into his own hands. Offering the Arkenstone, something so valuable to his expedition, to avoid conflict is something that was just in his nature. An action like this was very brave for him, but he knew what he needed to do. In this quote, Gandalf is congratulating Bilbo on a job well done, yet not to become complacent because it is not all over yet. I think that it is essential Gandalf appreciated Bilbo’s actions of bravery and how he carries out what he believes in with such finesse. Bilbo gets excited because of Gandalf’s compliments, and I felt happy for him. â€Å"By the beard of Durin! I wish I had Gandalf here! Curse him for his choice of you! May his beard wither! As for you I will throw you to the rocks! He cried and lifted Bilbo into his arms. Stay! Your wish is granted! † said a voice. The old man with the casket threw aside his hood and cloak. â€Å"Here is Gandalf! And none too soon it seems. If you don’t like my Burglar, please don’t damage him. Put him down, and listen first to what he has to say! † (Tolkien 250-251) â€Å"The Goblins are upon you ! Bolg of the North is coming, O Dain! Whose father you slew in Moria. Behold! The bats are above his army like a sea of locusts. † (Tolkien 255) â€Å"It was a terrible battle. The most dreadful of all Bilbo’s experiences, and the one which at the time he hated most. † (Tolkien 257) This quote that I picked only further emphasizes the fact that Gandalf’s and Bilbo’s views correspond with each other. Nothing bad can really result from a duo with supernatural powers and great resourcefulness. I also appreciate how Gandalf cuts Thorin down to size. I believe that the riches he sits upon got to his head and now he somewhat corrupt. In this part of the book, we are introduced to a new character, â€Å"Bolg of the North†. According to the book, Bolg is the son of Azog. This is very interesting because earlier in the book we learned Azog was the goblin who killed Thorin’s grandfather, Thror. This reminds me of the short story we read earlier in the year, The Interlopers, and how the hostility remained between the generations of family. This explanation of the battle given on the account of Bilbo really made me realize the degree of severity in which it occurred. If this was worse than Bilbo’s experience of being chased up a tree by wolves and then having it slowly burnt down with him stuck up there, then this battle must have been pretty bad. I would have to say it was by far Bilbo’s nightmare occurring in reality. â€Å"When Bilbo came to himself, he was literally by himself† (Tolkien 261) There indeed lay Thorin Oakenshield, wounded with many wounds, and his rent armour and notched ace were cast upon the floor. He looked up as Bilbo came beside him. â€Å"Farewell, good theif,† he said. I go now to the halls of waiting to sit beside my fathers, until the world is renewed. Since I leave now all gold and silver, and go where it is of little wo rth, I wish to part in friendship with you, and I would take back my words and deeds at the Gate. † (Tolkien 262) â€Å"So comes snow after fire, and even dragons have their ending! † said Bilbo, and he turned his back on his adventure. The Tookish part was getting very tired, and the Baggins was daily getting stronger. â€Å"I wish now only to be in my own armchair! † he said† (Tolkien 268) This statement, which opens up the 18th chapter, highlights the life of solitude Bilbo longed for the whole time he was away from his ascetic life. Tolkien shows how he was forced to cope by himself with no one there for him as they were either dead or in hiding. I felt a lot of sympathy here for Bilbo because he was always there to lend a hand to everyone else but in this instance, no one was there for him. Thrown in a much different situation, Thorin acts completely different towards Bilbo. Even though I disliked Thorin a lot since the beginning of the book, I looked at his character with a lot more respect after he parted by making amends with everyone – especially Bilbo. Bilbo definitely deserved an apology and I revere Thorin for delivering it. I noticed that as time went on in the book, Bilbo kept longing for his hobbit hole. Since his Tookish blood that has longed for adventure is now satisfied, he needs time to recover from everything he has seen and experienced. Now fueled and fired by the drive to get home, nothing is going to stop Bilbo. He is now a much stronger, wiser, and keen hobbit. â€Å"The dragon is withered, his bones are now crumbled; His armour is shivered, His splendor is humbled! Though sword shall be rusted, And throne and crown perish With strength that men trusted And wealth that they cherish, Here grass is still growing, And leaves are yet swinging, The white water flowing, And elves are yet singing Come! Tra-la-la-lally! Come back to the valley! † (Tolkien 269) â€Å"Bless Me! What’s going on? He cried. There was a great commotion and people of all sorts, respectable and unrespectable, were thick round the door, and many were going in and out – not even wiping their feet on the mat, as Bilbo noticed with annoyance. † (Tolkien 274) â€Å"Thank goodness! † said Bilbo laughing, and handed him the tobacco-jar. † (Tolkien 276) This excerpt, the elves being the speakers behind it, recite these lines in song. This quote shows how the slaying of the dragon and triumph over the goblins and Wargs not only positively affected Bilbo and the dwarves, but life in all of the lands. Because of their brave actions, everyone can now live much more peacefully. In this quote, Bilbo finally returns home. He’s been ‘round the world and back – literally – only to find his belongings are being auctioned off to strangers. If I was in Bilbo’s situation I would have probably gone berserk and thrown everyone out, one by one. I couldn’t even have imagined such a thing happening to Bilbo. If there was one thing I can see Bilbo caring about is his good ‘ol pipe and tobacco. These two items are the perfect combination to calm down and relax such a humble hobbit like Bilbo. I happy that at least his pride wasn’t stripped from him at his homecoming. Bilbo has returned at last.

New Capitalism by Peston

New Capitalism by Peston Introduction The lucid facts, logical ideas, mindboggling thoughts and authoritative opinions presented in Richard Sennett’s highly revered book of â€Å"New Capitalism† have been increasingly debated over the recent past based on their relevance in the modern day society.Advertising We will write a custom essay sample on New Capitalism by Peston specifically for you for only $16.05 $11/page Learn More A few economic bigwigs have been able to come out in opposition of thoughts presented in that book, while a whole lot of many others have strongly defended it. So what really is it about this book that makes it a bone of contention for economists, economy-oriented academicians and even scholars from other fundamental disciplines such as sociology? Preliminarily, the book coherently outlines the earlier forms of industrial capitalism in both public and private organizations and its global impacts. From that background, he then goes a mile further and circumspectly analyzes the current form of capitalism which he calls â€Å"New Capitalism† and explicates its diverse effects including: the progressively widening gap between the â€Å"haves† and â€Å"have-nots† in the society, the rise of a new influential capitalist group of people based on their timely positioning in the shifting economy, socio-political and economic traumas of those who constantly face oppression from actions by the elitist class in the society and finally, Sennett presents possible solutions and practical initiatives that can help bring reform to this derogative new form of capitalism (Sennett, 2006). It is based on these documentations by Sennett that this paper is going to explain the current socio-economic and political happenings as selectively reported by the media on the amassed consequences of â€Å"New Capitalism.† Main discussion The evolution of New Capitalism and its consequences Just a few decades ago, banks were co nsidered as invincible institutions that could never collapse. Their perceived strength for a long time is what essentially ensured that economies of countries stayed intact in spite of repeated global hiccups Stelzer (2008). But looking at the current situation, one can not help but feel awed- if not sympathetic- at their rate of collapses which have in turn led to the tumbling of governments. This is the exact scenario that Sennett (2006) had forecasted, and many more sociopolitical happenings are further getting confirmed by the day. A recent expansively written article by BBC’s renowned writer Robert Peston in December 2008, clearly highlights how the dawn of the New Capitalism is adversely affecting Britain, USA and the world at large- and how the already grim situation can get grimmer if reformative steps are not taken. His article is primarily going to be the basis of analyzing and ascertaining projections by Sennett (2006).Advertising Looking for essay on busi ness economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More To begin with, many researchers observe that the current economic challenges that are being faced globally are principally because of them getting into huge debts. To this effect, Peston (2008, p.1) says that: We borrowed too much, especially in the US and the UK. And the process of paying the money back is not only leading to a fall in living standards but is also precipitating very significant changes in how the global financial economy operates. He goes ahead and cites that the most affected parties in this issue of borrowing are households and corporate institutions. And based on the fact that so much of the economy is controlled by these two parties, the resulting economic impact is devastating. Sennett (2006) explains this situation by saying that in the New Capitalism- which we are in fact already experiencing; societies will be enticed into taking huge debts by the cal culative money managers. Once this is done, the lenders will come to ask for their money when you least expect it. And if you can not pay it back, they will freeze your assets and booming businesses thus getting even more benefits than what should. This is the typical scenario that Peston is explicating above. Peston (2008, p.1) further preempts that the â€Å"Economic conditions in 2009 will be treacherous. Therell be a formal recession in most developed economies, and the economic contraction is highly likely to be more severe in the UK than almost anywhere.† And as we now know, most of the high performing and well-to-do economic countries have been on a downward spiral with the USA and UK being the most affected (Stelzer, 2008). According to Sennett (2006), this economic meltdown and economic tumbling further presents an opportunity for the rise of capitalists’ states that had foreseen this scenario ages ago and socio-economically aligned themselves accordingly. A g ood example is China who, according to Peston (2008, p.2), have been saving over the past decade as a country and as individuals. He additionally states that the Chinese have also been increasingly industrious over the past few years making viable (yet cheap) products, which are in turn exported to the USA and Britain. Then unknowingly, we borrow money from clever bankers who saved their money (or at times, from moneys that our governments borrowed from countries like China) in order to buy these goods. As a result, China and these few bankers keep on progressing financially while our nations continue spiraling downwards. Essentially, this is what Sennett means when he says that â€Å"the rich will keep on getting richer while the poor ones get poorer† (p.6).Advertising We will write a custom essay sample on New Capitalism by Peston specifically for you for only $16.05 $11/page Learn More Moreover, Stelzer (2008) and Peston (2008, p.1 and p.6) assert that the new age capitalism has resulted in higher numbers of unemployment. Peston (2008) equates this numbers to â€Å"The extraordinary volatility weve experienced in the price of sterling, commodities, energy, shares and capital which makes it so hard for businesses and investors to plan.† (p.1). He then collectively alludes that the remaining unemployment figures are as a result of tight budgets in economies which is making companies streamline their expenditure through cutting down of jobs (p.5-6). To this effect, Sennett (2006) says that the cutting down of jobs will only affect the tumbling economies and not those capitalist societies that had anticipated the socio-economic shake up. Again, this is the reason why China and India have been recently reported to have increased employment rates (Stelzer, 2008). Interestingly and sadly, this new brand of capitalism is making most governments use the common man as their financial cushion- when in real sense, it should be t he opposite. Accordingly, Peston (2008, p.3) notes that this â€Å"oppression† to the common man is comes in form of over-taxation and the reduction of support-funds. The money realized from the taxes are then used by the governments to try resuscitating the, seemingly, dying financial powerhouses like banks, state corporations, privately state owned investments among many others. As for the reduction in funds, this is simply meant to cut on the expenditure by banks and other donor organizations so that the money can be ploughed into other revenue-generating projects. According to Sennett (2006), this poses a great challenge to the â€Å"modern man† who has grown up relying on such funds. Consequently, the withdrawal or reduction of the funds leads to impoverishment of this people which further opens a door for a vista of detrimental effects like: low economic output, poor healthcare and in some cases, untimely deaths which wholesomely plunges these economies even more . In relations to the above point, Peston (2008, p.3) observes that once the banks have started facing problems, most money managers withdraw their moneys from banks and, in most cases, invest them in overseas countries or bank them in offshore accounts. This eventually leaves their native bank with no money to conduct its business. And as we all know, this cumulatively impacts negatively on the country’s socioeconomic and political setup (Sennett, 2006).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Notably important, Peston (2008, p.1) says that â€Å"For many years to come, whats happening will affect the relationship between business and government, between taxpayers and the private sector, between employers and employees, between investors and companies.† This is a trivially bad circumstance to end up in- based on the much we have witnessed so far. It is therefore important that we not only look at the consequences of the New Capitalism, but go a step further and show how we can curb or if possible, ultimately stop its negative effects. In doing so, we must first inherently establish its root causes (things that have contributed to it), then from here; we can get to uproot them and cultivate a new environment that nurtures positivity by offering possible solutions. So what/who is responsible for this perilous situation we are in? Contributing factors to the consequences of New Capitalism With regards to what/who is responsible for our current New Capitalism predicame nt, Peston (2008, p.5) says that â€Å"We’re all at fault to varying degrees.† Whether knowingly or unknowingly; we all have, in one way or another, contributed to the dilemma we are in. Starting with the government, Peston (2008, p.5) reports that â€Å"The authorities in the US and the UK were aware of the dangers of allowing the financial and trade deficits with China and other exporting nations to persist† but instead of correcting it through proper regulation of taxation and interest rates to reduce increased consumption; they chose to keep quiet thus landing us in our current quandary. Additionally, Peston (2008, p.5) says that the general public partly got themselves into the mess that they are in. Instead of questioning the ramifications of the colossal hedge funds and private booms of 2007 which were given at absurdly cheap terms; they blindly signed the dotted line and partook of the funds. As at now, most of them are still struggling with repaying tha t, when they would have simply avoided it in the first place. As for the banks’ role in the devastating implications of New Capitalism, Peston (2005, p.5) expressively notes that: A corollary of precisely this complacency was that central banks, such as the Bank of England, were hopelessly wrong in believing that the explosive growth of credit and the surge in the price of assets such as houses was somehow hermetically sealed from the rest of the economy, such that it wouldn’t damage everything when the bubble was finally popped. As we now know, the growth of credits was a porous plan that negatively impacted and still continues to devastate Britain’s economy. To make matters worse, Peston (2008, p.5) observes that: Regulators were negligent in allowing the creation of what’s become known as a shadow banking system, in which trillions of pounds of long term loans in the western economies were financed with credit that could be withdrawn far too quickly. A s a result, there was no fall back or something to adhesively hold the economy once financial shake-ups began hitting hard. Finally, Peston (2008, p.5) blames the media for agenda setting a platform for the negative growth of New Capitalism by ignoring to play the â€Å"watchdog role† and warning the world about this predicament. The way forward- possible solutions Of course banks and the government played a bigger role in getting us in this dangerous situation we are in; but going around negatively trumpeting each others’ names and pointing judgmental fingers to one another will not help us. So what is the way forward for Britain, USA and other parts of the world as well? Firstly, Zhou Xiaochuan’s sentiments that the US should take a leading role and adjust its policies, reduce fiscal deficits and increase its saving ratios since it is the world’s superpower; can be a good start (Peston, 2008, p.2). Factors like the heavy debts by the US and the falling down of prices might inhibit this, but in overall it is a venture worth trying (p.4-6). Peston (2008, p.5) just like Sennett (2006) say that massive printing of money can also help reducing debt. However, this should be done sparingly and cautiously to avoid high inflation like the renowned case of Zimbabwe. Personally, I think that the creation of more investment avenues for those at the grassroots of the society can also offer a good balance in the spread of resources thus reducing the gap between the rich and the poor. Once equilibrium is reached, the society is bound to progress as an entity and in-turn, having a positive socioeconomic impact on a global scale. This, among many other fundamental solutions, not stated, can be of invaluable help. Conclusion In finality, it is inevitable to note that New Capitalism is not an entirely bad thing. China, India, Japan, Saudi and other increasingly growing economies are typical examples to ascertain that (Peston, 2008, p.2). Additionall y, the increased networking and cooperation among various countries has been able to open up more trading avenues for investors to spread their financial tentacles. All we have to do is positively learn from our mistakes and forge ahead rather than just sitting down and blaming ourselves over past things that we can not change. References Peston, R. (2008) The New Capitalism. BBC News Web. Sennett, R. (2006) The Culture of the New Capitalism. London: Yale University Press. Stelzer, I. M. (2008) New Capitalism: Market capitalism in the United States will never be the same. Weekly Standard Web.

Nursing research Essay Example | Topics and Well Written Essays - 250 words - 10

Nursing research - Essay Example Hence, this type of research leads to conclusive knowledge that provide solutions for the nursing practice and inform nurses’ decisions based on evidence from practice. Peer reviewed journals commonly appear in academic journals, and they undergo a lot of scrutiny from experts in the fields of research in order determine their accuracy, significance, and originality. In effect, the experts’ opinion informs the printing of articles by the editors of the journal. Hence, various ways determine whether the journals have undergone peer review. First, the journal in which an article appears determines whether the article underwent peer review. In this case, cross checking the journal with a list that contains peer-reviewed journals is crucial. Secondly, it is important to cross check whether an article appears in databases such as university libraries, ProQuest, JSTOR, and many databases that contain peer-reviewed articles. In effect, articles that appear in these databases have undergone peer review. Finally, some articles contain information regarding whether they appeared in peer-reviewed journals. Hence, such information present in an article indicates the presence of peer reviewed

Statistical Analysis study of Data Collection Essay

Statistical Analysis study of Data Collection - Essay Example Job satisfaction is an essential component that determines the productivity and retention of performing employees. The last, extrinsic satisfaction is based upon the surveyed employees’ response to the survey as regards their working environment and workplace. These responses have been analyzed in this paper. This is an important aspect of ensuring that the organization provides a good workplace and an atmosphere where the employee is motivated to perform at his best. Or, negatively speaking, there are very few distractions and the workers are able to concentrate on delivering their best. The population size of the Human Resources department is very small and is therefore not considered for the purpose of this paper. The administration department, being a staff function, operates in a different atmosphere, Information Technology (IT), the line function of this organization, is selected for detailed analysis. The IT department has a total of 100 employees of which 29 are male. The satisfaction levels in this department, based on extrinsic factors, are further studied by calculating the statistical central tendencies for extrinsic satisfaction. The measures adopted are: The above are calculated for all the employees first and then for female and male employees separately. All data is calculated on a scale of 1 to 7 where 1 represents very poor and 7 as very good. The results are presented below: Analysis of the data above throws important light on some of the aspects of the management and environment of the IT department. All employees rate their satisfaction with the working environment on an average of 4.50-4.60, with the female employees giving a slightly higher rating. It is the deviation that shows that while the male employees are more coherent in their opinion, the females differ more widely as to how they perceive the situation. This is also

Future work place competenvy skills Essay Example | Topics and Well Written Essays - 250 words

Future work place competenvy skills - Essay Example Owing to the immense public interaction that this profession requires, health administrators would need to maintain their original self in addition to the mechanized self. Health administration requires a sound knowledge of management. In the contemporary age, methods are being devised to quantify the management. A lot of softwares are being employed in the workplace for organizing the work, which not many public health administrators are able to use. In the present age, people with good knowledge of IT are preferred over others for the job of public health administration. In the coming years, this competition will increase as more and more softwares are being found. Therefore, in order to excel in their field, public health administrators should gain competence in the use of the related softwares. In the University of Phoenix, I came across a diverse population of students from all over the world interacting with whom polished my interpersonal skills. The softwares we were taught wo uld be very beneficial for us in our profession.

Abortion In Natural Moral Law And Utilitarian Ethics Philosophy Essay

Abortion In Natural Moral Law And Utilitarian Ethics Philosophy Essay The current ethical issue of abortion is a broad and complex ethical issue which can be approached from many moral and ethical directions. Two such directions can be the deontological Natural Moral Law and the teleological or consequentialist Utilitarian ethics. Abortion, from the Latin aborior, to pass away, is an induced termination of a pregnancy. Historically, as today, an abortion is the focal point of much controversy. The laws governing abortion have changed considerably in the last fifty years to accommodate abortion as an option for a pregnant woman. A landmark US case giving a mother right to wilful abortion occurred in 1973 set in motion by a woman called Jane Roe in Dallas, Texas. Roe wished to terminate her pregnancy, but in Texas at the time, only victims of rape or incest could procure a legal abortion. The case reached the Supreme Court where the judges ruled that abortion was a constitutional right to women, overturning laws in every state which denied abortion to women through medically qualified doctors. Abortion is now legally allowed in many western countries for women. Since the legality of abortions came into effect, much debate has occurred from opposite so called pro-choice and pro-life groups, gathering many argumen ts from both deontological and teleological ethics. Utilitarianism  is the idea that the  moral worth  of an action is determined solely by its contribution to overall  utility: that is, its contribution to happiness or pleasure as summed among all people.  [1]   Utilitarianism places no emphasis on whether an action is right or wrong, right is only so once the pleasure has been decided to outweigh the pain in the circumstances resulting from the decision. Pleasure, in early Utilitarian thinking, was only concerned with the physical, e.g. being well fed. John Stuart Mill later argued that pleasure was also quantifiable in intellectual and spiritual terms. These higher pleasures he argued outweighed the lower pleasures. Mill proposed, for example being well fed, at the expense of a mans spirituality was a lesser pleasure, and in effect, not as right as a spiritually enlightened man who was hungry. The hungry man experiences higher pleasure, as spiritual enlightenment lasts significantly longer than the feeling of being well fed. Consequentialist Utilitarians would argue that abortion is an entirely neutral act. The consequences resulting from the abortion determine the rightness. A specific system of measuring the pleasure against pain can be utilised called Hedonic Calculus. Hedonic Calculus first proposed by Jeremy Bentham, measures pleasure/pain through eight categories: Certainty Duration Extent   Intensity   Remoteness   Richness Purity  [2]   This calculus subjectively determines if the pain outweighs the pleasure in a scenario of a potential abortion. A mother may need an abortion to save her own life if it is in peril due to her pregnancy, she cannot afford to leave her children motherless. This scenario, shown through Hedonic Calculus allows abortion to be the right choice as 1. There is a high certainty the mother will die, 2. The duration of mourning for the family would be very long as would the duration of risk to her other children, 3. The pain and suffering for her surviving family would be very great and so on. A different scenario in which the mother seeks an abortion so she can go on a holiday would be morally wrong as from categories: 2. the pleasure of a child will last years compared to that of a comparatively short holiday, 4. The intensity of the pleasure of a child is much greater and higher significance as it is emotional and spiritual than a physical and emotional holiday. The taking of a life can be justified in Utilitarianism as there are no standing rules of what is right or wrong for a general scenario, i.e. abortion. Every circumstance is different and warrants a separate evaluation to determine the correct action. Natural law is a branch of deontological ethics, deon meaning duty in Latin. Natural law  or the  law of nature  is a theory that posits the existence of a law whose content is set by  nature  and that therefore has validity everywhere.  [3]  These laws, created by God, are discernible to all peoples and are thought of as moral absolutes, natural moral law theory implies that we  discover  morality we do not  invent  it,  (J.P. Moreland, What Is Natural Moral Law). It is mans duty to be rational, and as God is rational too, it is rational that humans must love God. Thomas Aquinas, a figurehead for natural moral law proposed five primary precepts and other secondary precepts. The primary precepts proposed where: The continuation of the species through procreation The education of children The desire to live in society The worship of God The preservation of the self These precepts are considered in natural moral law to be the most basic aspirations of all humans. Aquinas believed that all humans wished to do good and follow the precepts but through ignorance to the Natural Moral Law, some could do wrong. Aquinas argued that good ethical decisions could be arrived at by reason alone. Humans have the power of deducing what is good and what is wrong through application of their conscience. Natural Law, being deontological, imposes inalienable rules that cannot be broken. Natural Law can be seen as order provided by nature which exists for a purpose. A common criticism of Utilitarianism would be the difficulty of its real world application. The theory of a decision may be morally sound, but the limitless unexpected permutations prevent proper ethical conduct from occurring once theory is put to practice. The Tribunal of the Holy Office, a catholic authority was once queried on the 4th of May, 1898 as to whether a foetus was allowed to be removed from its womb before natural course did so. The tribunal resolved that there was no exception to natural birth, even inducing premature labour with the intention of saving the babys life. However, if life saving surgery were to be performed on the mother, which would have consequences on the growing foetus, it should not be maintained that the fetal(sic)  life  is thereby directly attacked. The  evil  is not made a means to obtain the  good  effect; for this would be to do  evil  that  good  might come of it.  [4]   This fulfils the Natural Law requirement of the act of being good as separate from the concept of doing good. To be morally correct, one must not embark on a course of action which is right purely to obtain an evil or vain end. The right must be to cause neutral or correct consequences. This certainty of rules and moral action allows the system of Natural Law to be an unquestionable authority if placed alongside Utilitarian ethics which are in permanent flux. The Catholic Church supports the notion of ensoulment, where at conception a foetus is given a soul by God. A soul is viewed as a separate form to the physical body, but is linked inextricably until death. The act of abortion goes against the first precept of Natural Law, denying the continuation of the species through abortion. Even if that abortion would lead to saving a life, the authority to kill a foetus does not rest in humans hands. It is inhumane to end the life of a baby, as natural law theory holds;  one may never directly intend to kill an innocent human being  [5]  . After conception, Natural Law argues that the foetus is human so is equal in right to life as its mother. There is no greater worth placed on the mother living than the child as both are considered equal. Utilitarianism would argue against the inflexibility of the rules of Natural Law regarding to the preservation of a childs life. Utilitarians would argue that greater suffering may be caused by the preservation of a foetus life. The mother of the child may be a chronic drug addict, and the chances of the baby growing up disadvantaged are high. It could be argued that the mother may not be fit to care for a child and the child would suffer a hard life, through mal-parenting and possible separation from the mother in later years. A possible course of action would be a wilful abortion by the mother to prevent suffering of a child. The rigidity of Natural Law allows no exceptions to be made, even if the pleasure resulting from an abortion vastly outweighs the pain. This rigidity of laws could cause unnecessary harm to many people. Correct decision making can stem from both deontological and consequentialist ethics. While Natural Moral Law argues that the laws of nature are absolute, Utilitarianism argues that no laws constantly serve the greatest good, and only through flexibility can good be achieved. The primary precepts of Natural Law indicate clearly that abortion is wrong so far as the taking of an innocent life, and interrupting the natural result of procreation. Utilitarianism states that abortion, like all actions is an entirely neutral act until the consequences are evaluated. Both ethical systems allow an opportunity for an individual to formulate an understanding of, and ethically right decision on abortion.

Bingo vs Lays

Project Report On I. T. C – Bingo V/S Frito-Lays V/S Submitted By:Under the guidance ofSubmitted to: Harpratap Singh- Prof. Santosh DharJ. K. Lakshmipat M. B. A II Semester(Professor MBA Dept)University, – Mr. Sachin KadamJaipur (Area Executive ITC Mumbai) Declaration I hereby declare that my Project Report entitled â€Å"I. T. C – Bingo V/S Frito-Lays† is an authentic work done by me. The Project was undertaken as a part of the course curriculum of MBA of J. K. Lakshmipat University, Jaipur, Rajasthan. This has not been submitted to any other examination body earlier. Date: SignaturePlace: JaipurHarpratap Singh MBA II Semester Acknowledgement I would like to express my sincere gratitude to Prof. Santosh Dhar my project guide from Institute of Management, J. K. Lakshmipat University, Jaipur, Rajasthan and my company Guide; Area Executive Mr. Sachin Kadam for the successful completion of my project – I. T. C Bingo v/s Frito-Lays. I sincerely thank th em for their extended support and encouragement from the initial to the final stages enabling me to develop a better understanding and provided me proper and correct direction for the completion of the Project work.Date: Harpratap Singh Place: Jaipur MBA II Semester Content S. No. | Title| Page No. | 1. | Title| 1| 2. | Declaration & Acknowledgement| 2-3| 3. | Executive Summary| 5| 4. | Company Profile| 6-15| 5. | Industry Overview| 16-17| 6. | Project Objectives| 18| 7. | Research Methodology| 19-20| 8. | About Bingo & Lays| 21-34| 9. | Observations and Findings| 35-37| 10. | Data Collection, Representation & Interpretation| 38-48| 11. | Recommendations| 49-50| 12. | Conclusion| 51| 13. | Annexure| 52-53| 4. | References| 54| Executive Summary Since its launch period in March, 2007, BINGO as a brand has been through a lots of ups and downs. Both Branding and Sales and Distribution aspects of marketing for BINGO have been explored and matured to a large extent. Though the product i tself is considered to be in a growth stage, with a market share of 16% in the branded snacks food category, it has been successful to a large extent in creating the required Brand recall for the category. With the fast growing retail industry in India, competition has increased between the major market players.Companies are continually trying to engage and construct innovate ideas to service this market. This project aims to study about ITC Bingo snacks and its competitor Frito-Lays. The project provides information about the various procedures followed by ITC with respect to distribution chain function, and client management and the comparison and interpretation of data collected in regard with the project topic. The project includes a mix of observation, interview and questionnaires. Initially a period of 45 days was dedicated to fieldwork under the guidance of Area Executive Mr.Sachin Kadam of ITC limited. An effort was made to understand the various servicing procedure, the typ ical areas/localities, and kinds of retailers, classes of customers and the sales and distribution process and the retailers’ point of view for Bingo and Lays Regular interaction was done with retailers and distributors about the response and flow of product and variants respectively along with the competitor Lays’. Through this it makes easy to understand the process of accessing the competitor’s response in that outlet. week was dedicated to collect information of Frito-Lays regarding their marketing strategy, distribution and sales network and other useful information from the company officials. This project also includes the various tasks given to me by my AE and then my observation at retail outlets, the routes/areas/localities and the sales and distribution process. I concluded my project with some of my suggestion and recommendations, and the questionnaire that I had used to collect the primary data. The findings and recommendations help in better underst anding the shortcomings in the sales and distribution process of Bingo. As observed) Company Profile ITC is one of India's foremost private sector companies with a market capitalization of over US $ 33 billion and a turnover of US $ 7 billion. ITC is rated among the World's Best Big Companies, Asia's ‘Fab 50†² and the World's Most Reputable Companies by Forbes magazine, among India's Most Respected Companies by Business World and among India's Most Valuable Companies by Business Today. ITC also ranks among India's top 10 `Most Valuable (Company) Brands', in a study conducted by Brand Finance and published by the Economic Times.ITC also ranks among Asia's 50 best performing companies compiled by Business Week. ITC has a diversified presence in Cigarettes, Hotels, Paperboards ; Specialty Papers, Packaging, Agri-Business, Packaged Foods ; Confectionery, Information Technology, Branded Apparel, Personal Care, Stationery, Safety Matches and other FMCG products. While ITC is an outstanding market leader in its traditional businesses of Cigarettes, Hotels, Paperboards, Packaging and Agri-Exports, it is rapidly gaining market share even in its nascent businesses of Packaged Foods ; Confectionery, Branded Apparel, Personal Care and Stationery.As one of India's most valuable and respected corporations, ITC is widely perceived to be dedicatedly nation-oriented. Chairman Y C Deveshwar calls this source of inspiration â€Å"a commitment beyond the market†. In his own words: â€Å"ITC believes that its aspiration to create enduring value for the nation provides the motive force to sustain growing shareholder value. ITC practices this philosophy by not only driving each of its businesses towards international competitiveness but by also consciously contributing to enhancing the competitiveness of the larger value chain of which it is a part.ITC's diversified status originates from its corporate strategy aimed at creating multiple drivers of growth anchored on its time-tested core competencies: unmatched distribution reach, superior brand-building capabilities, effective supply chain management and acknowledged service skills in hoteliering. Over time, the strategic forays into new businesses are expected to garner a significant share of these emerging high-growth markets in India. ITC's Agri-Business is one of India's largest exporters of agricultural products.ITC is one of the country's biggest foreign exchange earners (US $ 3. 2 billion in the last decade). The Company's ‘e-Choupal' initiative is enabling Indian agriculture significantly enhance its competitiveness by empowering Indian farmers through the power of the Internet. This transformational strategy, which has already become the subject matter of a case study at Harvard Business School, is expected to progressively create for ITC a huge rural distribution infrastructure, significantly enhancing the Company's marketing reach.ITC's wholly owned Information Technology s ubsidiary, ITC InfoTech India Ltd, provides IT services and solutions to leading global customers. ITC InfoTech has carved a niche for itself by addressing customer challenges through innovative IT solutions. ITC's production facilities and hotels have won numerous national and international awards for quality, productivity, safety and environment management systems. ITC was the first company in India to voluntarily seek a corporate governance rating. ITC employs over 26,000 people at more than 60 locations across India.The Company continuously endeavours to enhance its wealth generating capabilities in a globalising environment to consistently reward more than 4,14,000 shareholders, fulfil the aspirations of its stakeholders and meet societal expectations. This over-arching vision of the company is expressively captured in its corporate positioning statement: â€Å"Enduring Value. For the Nation. For the Shareholder. † ITC was incorporated on August 24, 1910 under the name o f ‘Imperial Tobacco Company of India Limited'. ITC had a humble beginning and in the initial days it used to operate from a leased office on Radha Bazar Lane, Kolkata.On its 16th birthday on August 24, 1926, ITC purchased the plot of land situated at 37, Chowringhee, (now renamed J. L. Nehru Road) Kolkata. Two years later companies headquarter building; ‘Virginia House' came on that plot. Progressively the ownership of the company Indianised and the name of the Company were changed to I. T. C. Limited in 1974. In recognition of the Company's multi-business portfolio encompassing a wide range of businesses, the full stops in the Company's name were removed effective September 18, 2001 and the Company was rechristened as ‘ITC Limited'.ITC is a board-managed professional company, committed to creating enduring value for the shareholder and for the nation. It has a rich organisational culture rooted in its core values of respect for people and belief in empowerment. It s philosophy of all-round value creation is backed by strong corporate governance policies and systems. ITC’s corporate strategies are: * Create multiple drivers of growth by developing a portfolio of world class businesses that best matches organisational capability with opportunities in domestic and export markets. Continue to focus on the chosen portfolio of FMCG, Hotels, Paper, Paperboards & Packaging, Agri Business and Information Technology. * Benchmark the health of each business comprehensively across the criteria of Market Standing, Profitability and Internal Vitality. * Ensure that each of its businesses is world class and internationally competitive. * Enhance the competitive power of the portfolio through synergies derived by blending the diverse skills and capabilities residing in ITC are various businesses. Create distributed leadership within the organisation by nurturing talented and focused top management teams for each of the businesses. * Continuously stren gthen and refine Corporate Governance processes and systems to catalyse the entrepreneurial energies of management by striking the golden balance between executive freedom and the need for effective control and accountability. I. T. C and its diversified businesses: Cigarettes: ITC is the market leader in cigarettes in India and has a wide range of popular brands such as Insignia, India Kings, Classic, Gold Flake, Silk Cut, Navy Cut, Scissors, Capstan, Berkeley, Bristol and Flake in its ortfolio. Packaging: ITC's Packaging ; Printing Business is the country's largest convertor of paperboard into packaging. It was set up in 1925 as a strategic backward integration for ITC's Cigarettes business. It offers a variety of value-added packaging solutions for the food ; beverage, personal products, cigarette, liquor, cellular phone and IT packaging industries. Hotels: ITC entered the hotels business in 1975 with the acquisition of a hotel in Chennai, which was rechristened Hotel Chola. Toda y ITC-Welcomgroup with over 70 hotels is one of the foremost hotel chains in India.Paperboards: In 1979, ITC entered the Paperboards business by promoting ITC Bhadrachalam Paperboards. ITC's Paperboards business has a manufacturing capacity of over 360,000 tonnes per year and is a market leader in India across all carton-consuming segments. Greeting, Gifting & Stationery: ITC's stationery brands â€Å"Paper Kraft† ; â€Å"Classmate† are widely distributed brands across India. The Paperkraft designer stationery range consists of notepads ; multi subject notebooks in hard, soft covers ; multiple binding formats including spirals, wiros etc.ITC's Greeting & Gifting products include Expressions range of greeting cards and gifting products. Safety Matches: ITC's brands of safety matches include iKno, Mangaldeep, VaxLit, Delite and Aim. The Aim is the largest selling brand of Safety Matches in India. ITC also exports premium brands to markets such as Europe, Africa and the U SA. Aggarbattis: ITC has launched Mangaldeep brand of Aggarbattis with a wide range of fragrances like Rose, Jasmine, Bouquet, Sandalwood, Madhur, Durbar, Tarangini, Anushri, Ananth and Mogra.Mangaldeep is also being exported to USA, UAE, Bahrain, Nepal, Singapore, Malaysia, Oman and South Africa. Lifestyle Retailing: ITC entered the Lifestyle Retailing business with the Wills Sport range of international quality relaxed wear for men and women in 2000. The Wills Lifestyle chain of exclusive stores later expanded its range to include Wills Classic formal wear (2002) and Wills Clublife evening wear (2003). In 2002, ITC entered into the popular segment with its men's wear brand, John Players.In 2005, ITC introduced Essenza Di Wills, an exclusive line of prestige fragrance products. Food: ITC made its entry into the branded & packaged Foods business in August 2001 with the launch of the â€Å"Kitchens of India† brand. In 2002 it expanded into Confectionery, Staples and Snack Food s segments. ITC's brand in Food category includes: Kitchens of India, Aashirvaad, Sunfeast, Mint-O, Candyman, and Bingo! Agri Exports: ITC's International Business Division (IBD) is the country's second largest exporter of agri-products.ITC exports Feed Ingredients (Soyameal), Food grains (Rice, Wheat, and Pulses), Coffee ; Spices, Edible Nuts, Marine Products, and Processed Fruits. E-choupal: The e-Choupal model of ITC has been very effective in tackling the challenges posed by the unique features of Indian agriculture, characterized by fragmented farms, weak infrastructure and the involvement of numerous intermediaries. Board of Directors | Y. C. Deveshwar (Chairman) Executive Director Nakul Anand P. V. DhobaleK. N. Grant Non-Executive Directors A BaijalS.BanarjeeAV Girija Kumar S H KhanS B MathurD K Mehrotra H G PowellP B RamanujamAnthony Ruys Basudeb SenK. VaidyanathB Vijayraghavan Award Winning ITC ITC constantly endeavours to benchmark its products, services and processes to g lobal standards. The Company's pursuit of excellence has earned it national and international honours. ITC is one of the eight Indian companies to figure in Forbes A-List for 2004, featuring 400 of â€Å"the world's best big companies†. Forbes has also named ITC among Asia's Fab 50†² and the World's Most Reputable Companies.ITC has several firsts to its credit: ITC is the first from India and among the first 10 companies in the world to publish its Sustainability Report in compliance (at the highest A+ level) with the latest G3 guidelines of the Netherlands-based Global Reporting Initiative (GRI), a UN-backed, multitask holder international initiative to develop and disseminate globally applicable Sustainability Reporting Guidelines. ITC is the first Indian company and the second in the world to win the prestigious Development Gateway Award.It won the $100,000 Award for the year 2005 for its trailblazing ITC e-Choupal initiative which has achieved the scale of a movement in rural India. The Development Gateway Award recognizes ITC's e-Choupal as the most exemplary contribution in the field of Information and Communication Technologies (ICT) for development during the last 10 years. ITC e-Choupal won the Award for the importance of its contribution to development priorities like poverty reduction, its scale and reliability, sustainability and transparency.ITC has won the inaugural ‘World Business Award', the worldwide business award recognizing companies who have made significant efforts to create sustainable livelihood opportunities and enduring wealth in developing countries. The award has been instituted jointly by the United Nations Development Programme (UNDP), International Chamber of Commerce (ICC) and the HRH Prince of Wales International Business Leaders Forum (IBLF). ITC is the first Corporate to receive the Annual FICCI Outstanding Vision Corporate Triple Impact Award in 2007 for its invaluable contribution capital for the nation.IT C has won the Golden Peacock Awards for ‘Corporate Social Responsibility (Asia)' in 2007, the Award for ‘CSR in Emerging Economies 2005’ and ‘Excellence in Corporate Governance' in the same year. These Awards have been instituted by the Institute of Directors, New Delhi, in association with the World Council for Corporate Governance and Centre for Corporate Governance. The Company's Green Leaf Threshing plants at Chirala and Anaparti in Andhra Pradesh are the first units of their kind in the world to get ISO 14001-environment management systems certification.ITC's cigarette factory in Kolkata is the first such unit in India to get ISO 9000 quality certification and the first among cigarette factories in the world to be awarded the ISO 14001 certification ITC Maurya in New Delhi is the first hotel in India to get the coveted ISO 14001 Environment Management Systems certification. ITC Filtrona is the first cigarette filter company in the world to obtain ISO 14 001 ITC InfoTech finds pride of place among a select group of SEI CMM Level 5 companies in the world.ITC's Green Leaf Threshing plant in Chirala is the first in India and among the first 10 units in the world to bag the Social Accountability (SA 8000) certification ITC Chairman Y C Deveshwar has received several honors over the years. Notable among them are: Year| Award| | | 2007| SAM/SPG Sustainability Leadership Award conferred at the International Sustainability Leadership Symposium, Zurich. | 2006| Business Person of the Year from UK Trade & Investment, the UK Government organisation that supports overseas businesses in that country. 2006| Inducted into the `Hall of Pride' by the 93rd Indian Science Congress| 2005| Honoured with the Teacher's Lifetime Achievement Award| 2001| Manager Entrepreneur of the Year from Ernst & Young Retail Visionary of the Year from Images, India's only fashion and retail trade magazine| 1998| Honorary Fellowship from the All India Management Associat ion| 1996| Distinguished Alumni Award from IIT, Delhi | 1994| Marketing Man of the Year from A&M, the leading marketing magazine| 1986| Meridian Hotelier of the Year| Some of the other notable recognitions are:The Stockholm Challenge 2006 for the e-Choupal initiative. This award is for using Information Technology for the economic development of rural communities. The Corporate Social Responsibility Crown Award for Water Practices from UNESCO and Water Digest for its distinguished work carried out in the water sector in India. ITC also received the National Award for Excellence in Water Management 2007 in the ‘beyond the fence' category from the CII Sohrabji Godrej Green Business Centre for its leadership role in implementing water and watershed management practices.The watershed programme also won the Asian CSR Award 2007 for Environmental Excellence given by the Asian Institute of Management. The Award recognizes and honours Asian companies for outstanding, innovative and wo rld-class projects. The Company also received the Ryutaro Hashimoto Incentive Prize 2007 for Environment & Development from the Asia Pacific Forum. This Award aims at promoting information dissemination of good practices towards sustainable development in the Asia-Pacific region.The Readers' Digest Pegasus Award for corporate social responsibility, recognizing outstanding work done by socially conscious companies. The Corporate Award for Social Responsibility 2008 from The Energy and Resources Institute (TERI) in recognition of its exemplary initiatives in implementing integrated watershed development programmes across 7 states in India. The company also won the award in 2004 for its e-Choupal initiative. The Award provides impetus to sustainable development and encourages ongoing social responsibility processes within the corporate sector.The ‘Enterprise Business Transformation Award' for Asia Pacific (Apac), instituted by Infosys Technologies and Wharton School of the Univer sity of Pennsylvania for its celebrated e-Choupal initiative. The Business Today Award for the Best Managed Company in recognition of its outstanding initiatives in the consumer products segment. The only Indian FMCG company to have featured in the Forbes 2000 list. The Forbes 2000 is a comprehensive ranking of the world's biggest companies, measured by a composite of sales, profits, assets and market value. The list spans 51 countries and 27 industries.The NDTV Profit Business Leadership Award for being the Best Food Company of 2007. The Award has been instituted to recognize organizational excellence. The CNBC-TV18's International Trade Award 2008 for Outstanding Exporter of the Year in the FMCG & Food category. ITC continues its dominance of The Economic Times' Brand Equity listing of India's 100 Biggest FMCG Brands, with three brands from its stable making it to the top five. Gold Flake remains India's biggest FMCG brand in terms of sales. Navy Cut ranks at No. 4. ITC's Scissors brand ranks at No 5 and is the only new entrant into the top 10.Restaurant magazine has chosen Bukhara at the ITC Maurya, New Delhi as the best Indian restaurant in the world and the best restaurant in Asia. Bukhara has also been adjudged one of the top 50 restaurants in the world by the London based magazine ‘The Good Food Guide'. Bukhara is the only South Asian restaurant to figure in the list. The â€Å"Best Supply Chain Practices Award† for time-effective and cost-efficient Logistics Management in Organized Retail to ITC's Lifestyle Retailing Business Division (LRBD) Indian Snack Industry Snacks are a part of Consumer Convenience/ Packaged Foods segment.Snack is described as a small quantity of food eaten between meals or in place of a meal. Snack food generally comprises bakery products, ready-to-eat mixes, chips, namkeen and other light processed foods According to the ministry of food processing, the snack food industry is worth Rs 100 billion in value and over 4,00,000 tonnes in terms of volume. Though very large and diverse, the snacks industry is dominated by the unorganized sector. According to an Apeda survey almost 1,000 snack items and 300 types of savories are sold across India. The branded snacks are sold at least 25% higher than the unbranded products.Savory snacks have been a part of Indian food habit, since almost ages. Though there is no particular time for snacks, normally they are consumed at teatime. The variety is almost mind-boggling with specialties from all regions, which have gained national acceptance. The industry has been growing around 10% for the last three years, while the branded segment is growing around 25% per annum to stand at Rs 5,000-Rs 5,500 crore, due to various reasons like Multiplex culture, snacking at home while watching TV, pubs and bars (where they are served free).AC Nielsen's retail audit shows that the large sales volumes are due to a marked preference for ethnic foods, regional bias towards ind igenous snacks and good value-for-money perception. Of course the branded segment is much smaller at Rs 2,200 crore, which is what makes it so attractive to food Companies that are looking at bigger shares. In the branded snacks market, to get down to basics, Frito Lay commands a share of 45%, followed by Haldiram’s at 27% and ITC at 16%. The rest is divided between a handful of new entrants, wannabes and many regional players.Of the wide range of snacks available, potato chips constitute a sizeable segment of the Indian snack food industry, according to India Infoline. The potato chip market is generally an unorganized industry. Nearly all potato chip snack products are manufactured and sold locally. There is also no uniform standard for packaging, as there is in Europe, the United States and other more developed regions. Many snack foods are sold loose or packaged in poly-pouches, which may only be folded, or in some cases, stapled closed.As the Indian economy continues to grow, and production standards improve, many snack food companies are making significant investments into plant equipment and packaging machinery. Potato-based snacks, and in particular potato chips, are the largest product segment, holding an 85%-share of the salty snack market Pepsi Foods Ltd. , now known as Frito-Lay India Ltd. , produces India's largest snack food manufacturers’ brands, including Ruffles, Hostess, Cheetos and Uncle Chips. Frito Lay's story is an example of how American recipes were adjusted to satisfy local tastes.Procter & Gamble's Pringles brand of potato crisp was launched in Delhi in 1999. Pringles is also a baked potato crisp, unlike many other potato based Indian snack foods that are fried. P&G currently imports the Pringles product and therefore the product has been priced at a premium and is marketed to a micro-niche. Also to be kept in mind, organized sector is growing at 15 -20 per cent a year, and unorganized sector is growing at 7-8 per cent. Project Objectives 1. Find and know everything on Bingo 2. Find out about the competitor Lays . To find out the key points of difference in the process of Distribution & selling, and of Bingo and Lays. 4. To understand the workings of DS (Distributor Salesman) 5. To understand the workings of Supervisor 6. To check and achieve visibility, availability and quality distribution across the identified target outlet. 7. To know and evaluate the response of retailer about the product. 8. To understand the details of Order Booking and Ready stocking. 9. To find out the key points where Lays has the edge over Bingo 10.To identify the areas, methods, ideas that can help in increasing Bingo’s sales. Research Methodology It includes the response of Bingo Snacks from retailers at retail outlets with respect to its competitors. It also includes the responses of competitor Frito-Lays from various sources. Work at retail outlets: 1) To check the availability of products. 2) To check visibil ity of products. 3) SWOT analysis of products. 4) To check how old the product is. 5) To trace the complaints regarding the product. 6) Identifying what would the factor to increase sale.Data collection technique: – 1) Interview with retailers, customers, distributors, and company officials of ITC. 2) Interview with distributors and company officials of Frito-Lays 3) Primary data via 1) Questionnaire, 2) Observation, 3) Interview 4) Secondary data from, 1) Newspaper, 2) Internet Sampling Plan: – Sample size100 Retailers Sample SegmentationOn the basis Location, & Type of Outlet. Sampling AreaAndheri(includes Andheri East and West, Jogeshweri East & West, Juhu, Irla, J.P. Road, Lalubhai, A. K. Road, Sahar Road,Sher e Punjab, Mahakali, Chakala, Takshila, Lokhandwala, Shastri Nagar, Veera Desai Road, Bhawani Nagar, Marol Military Road, Vile Parle East & West) BINGO! No Confusion Great Combination About Bingo The Bingo brand of chips was launched by    ITC on 14th March 2007 with an aim to capture at least 25 percent market share of the Rs 2000 crore branded snack market within five yrs.The launch is symbolic of ITC Foods' distinct approach of introducing innovative and differentiated products in a largely undifferentiated market place. Bingo’s launch was strategically timed around the World Cup. The idea was to get the consumer to take that first bite. This was an extremely ambitious target according to observers as the market was dominated by the Frito Lay group (owned by Pepsi Co) with a slew of brands like Lays, Kurkure and Uncle Chipps holding 50 per cent of the market share. The other was the Haldiram group with 25 percent of the market share.Bingo’s portfolio includes an array of products in both Potato Chips & Finger Snacks segment. Bingo! is positioned as a youthful and innovative snack, offering the consumers a choice of flavours that are fast becoming popular. Bingo used combination of leveraging synergies, building on cons umer insights and high decibel advertising can win the game. The company leveraged its existing distribution network and relationship established with farmers. Its earlier foray into categories like atta and biscuits had already given it access to the supply chain.ITC Food’s salted snack brand Bingo continues to tickle consumer taste buds with new variants. The latest to hit the shelves is Tangles, the fourth in its portfolio, after Bingo potato chips, Bingo Tedhe Medhe and Bingo Mad Angles. The product, which took two years to develop, will be launched in select markets in north and south India, before being scaled up nationally. The market for ‘western’ format of snacking is fairly nascent in India, and the addition of variants, the company hopes, will help create â€Å"new pegs of loyalty†. In snack food, consumers are always looking for change, and as a brand we strive to provide this through a unique mix of taste, bite and shapes,† says Chittara njan Dar, CEO, ITC Foods. To begin with, Tangles will be available in a unique pillow pack shape, in two flavours, Masala and Tomato. Subsequently, Tangles will be extended to regional flavours. Bingo, which is estimated to be worth Rs 650-700 crore, is expected to break even this year, say analysts. Since its launch in 2007, the brand has given stiff competition to market leader Pepsi.While Pepsi brands Lays and Kurkure lead by a huge margin, their shares have taken a hit in recent months. According to Nielsen 2010 data, Lays potato wafers reported a drop in share from 48 to 45 per cent, and Kurkure witnessed a 3 per cent decline in market share between January-December 2009 to January-December 2010. On the other hand, Bingo’s potato chips have notched a 1 per cent increase in share, whereas its sub-brands in the bridge category like Tedhe Medhe and Mad Angles have seen a small rise in market share.Other players in the snack food arena are mostly Indian players such as Parle Products, Haldiram and Balaji Namkin, besides a host of local and regional brands. The launch of Tangles is in line with the company’s strategy to focus on the ‘bridge segment’. Dar explains, â€Å"Today, potato chips represent almost 70 per cent of snack food consumption, with the bridge category still small. In the next few years, we expect the numbers to reverse. That’s because Indians are used to snacking alternatives as each region in India has its own snack options. With Tangles, ITC will adopt a similar route to communication and distribution as it did for the other Bingo variants. The new television commercial for Tangles, slated to be on air in a month, will continue to flog the ‘youth’ plank. On the distribution front, the company will invest in sampling and providing innovative racks to trade. Dar admits that unlike biscuits, sales of chips in rural areas is still a very small part of the market. Bingo currently reaches 5. 5 lakh outlets and it aims to increase it by 2 lakh every year. So is a health variant on Dar’s wishlist?He is not blind to the opportunity, but notes in a category like snacks, where consumption happens in small quantities, the health proposition needs to be weaved in with taste. Variants/Flavours Bingo! Potato Chips| | Potato Chips – Variants|   |   Ã‚  Product Description| | Premium Salted|   | Salted crunchy potato chips| | International Cream N Onion|   | Unique combination of cheese, cream and spring onion on potato Chips| | Red Chilli Bijli|   | Potato chips spiced up with red-hot chillies| | Spicy Masala Remix|   | A mix of spicy masalas on potato chips. | Juicy Tomato Ketchup|   | Succulent, ripe tomatoes on crisp and crunchy potato chips| | Pickle Tickle|   | Tongue-tickling combination of achaari lemons and potato chips| | Fiery Red Tomato|   | Potato Chips smeared with dry red chillies and juicy red tomatoes| | Oye Pudina|   | Combination of cr unchy potato chips and sprinkling of fresh Pudina leaves| | Bingo! Mad Angles –†har angles se Mmmm†¦Ã¢â‚¬ One of the biggest successes from the Bingo! portfolio, Bingo! Mad Angles has carved a niche for itself in the consumers mind and is synonymous with the perfect triangular snack.A combination of innovative flavours on a traditional khakra base, Mad Angles is a snack that is true to taste and perfect flavour delivery as well as shape, making it a snack that’s truly†har angles se Mmmm†¦Ã¢â‚¬ What's new? Bingo! brings you the chaat flavour that you can savour without having to stop by the  Ã¢â‚¬Å"gali ka chaatwala†. Let your fingers dive in to the perfect combination of the taste of fresh pudina, tangy tamarind, creamy yogurt and of course, the crunchiness of khakra triangles. Available in packs of Rs. 5, Rs. 10 and Rs. 20, the new Bingo!Mad Angles Masti Chaat now adds to the excitement of Mad Angles range from Bingo! Bingo! Mad Angles| | Mad Angles Variants|   |   Ã‚  Product Description| | Mad Angles Tomato Mischief|   | A combination of khakra-like crunchy triangles with tangy tomato flavour| | Mad Angles Chilli Dhamaka|   | Crunchy triangles with a taste of chillies| | Mad Angles Achaari Masti|   | Mouth-watering combination of Mad Angles and   sweet-sour mango pickle| | Mad Angles Masti Chaat|   | A chaat flavor that you can savour without having to stop by the galli ka  chaatwaala.The perfect combination of fresh pudina, tangy tamarind, creamy yogurt and of course, the perfection of  khakra  triangles. | | | | Bingo! TanglesThe latest addition to the Bingo! portfolio is Bingo! Tangles in masala and tomato flavours. Each piece of this innovative crunchy snack is made out of strands loaded with lip smacking masala or tantalizing tomato flavours. Once bitten, they break into many more delicious strands in the mouth. | ‘Be A Little Dillogical’ About Lay’s Brand HistoryLayà ¢â‚¬â„¢s, the world’s largest and favourite snack food brand, has steadily established itself as an indispensable part of India’s snacking culture since its launch in 1995. With its irresistible taste, international and Indian flavours and youth-centric imagery, Lay’s has established itself as a youth brand and continues to grow in the hearts and mind of its consumers. Over the years, Lay’s has become known for its engaging and innovative promotions and campaigns. The brand known for its ‘No one can eat just one’ campaign has moved its positioning to ‘What’s the programme? making Lay’s ‘the main food of every programme‘! Frito-Lay India Ltd. produces India's largest snack food manufacturer’s brands, including Ruffles, Hostess, Cheetos and Uncle Chips. Frito Lay's story is an example of how American recipes were adjusted to satisfy local tastes. Saif Ali Khan has been the face of the brand for over five y ears, and has recently been joined by the captain of the Indian cricket team M. S. Dhoni. Both embody the youthful energy and appeal of the brand.In 2008, Lay’s launched the never-before ‘Fight for Your Flavour’ allowing consumers to vote for the flavour of their choice. The flavour with the maximum votes would continue in the market. The flavours have been selected by the Lay’s brand ambassadors Saif Ali Khan and M. S. Dhoni with each celebrity rooting for the flavour of their choice. In November 2008, Lay’s made yet another innovative breakthrough –  the Chip-n-Sauce pack. This first-to-market pack has been launched for cricket lovers as they settle in their seats to savour the best sporting action of the season.The Lay’s Chip-n-Sauce large pack comes in two unique flavours – Chilli Chinese with a Schezwan Sauce sachet and Chatpata Indian with a Tamarind Sauce sachet inside the pack. In June 2009, Lay’s launched its n ew positioning platform: ‘Lay’s – Be a Little Dillogical’. The new Dillogical concept makes an instant connect with youth caught between the desire to succeed and the desire to remain engaged with certain moments that offer a deep emotional fulfilment. This friction is like a game between the heart and the head, a struggle between what you want to do and what you have to do.It’s all about making things that matter to the heart, happen. The new platform has been launched with a series of ads built around the universal consumer struggle between what the mind asks one to do and what the heart desires. A powerful 360 degree approach supports the new TVC, and has indeed prompted consumers to be a little Dillogical. WINNING FLAVOUR Lay’s, the world and India’s No 1 potato chips brand from Frito-Lay India, is all set to provide some new lip smacking tastes to its consumers. The four short listed flavors from a whopping 1. million ideas came f rom four winning consumers, each of whom gets Rs 5 lakh for their dillogical flavor ideas. Cheesy Mexicana, Tangy Twist, Mastana Mango and Hip Hop Honey & Chilly from a three-month long Give Us Your Delicious Flavor (GUYDF) campaign. The four flavors will be sold in the market across India for the next two months with the theme bachega sirf tastiest (survival of the tastiest). The flavor that elicits the maximum consumer votes will not only continue to stay in the market as the mega winner, but its ideator would be awarded a grand prize of Rs 50 lakh and 1% of sales revenue.KurKure Brand History: Launched in 1999, this perfect ‘namkeen’ snack, developed entirely in India, has come to be identified with fun and lovable human quirks. It developed an even stronger identity through associations with celebrities like Juhi Chawla (2003) and Kareena Kapoor (2008), well-known Indian actors. Brand Promise: Kurkure is a crunchy new-age namkeen snack brand which symbolizes light-h earted fun. Embodying the spirit of India, Kurkure has found a home in millions of hearts and minds and enjoys the position of a strong Lovemark brand in India.Juhi’s vibrant and fun-loving personality complements and embodies the essence of Kurkure. Over the years, Kurkure has journeyed effortlessly from being a snack with a twist to becoming an integral part of India’s teatime menu and an embodiment of endearing human ‘imperfections’ or ‘tedhapan’. Innovations Kurkure has constantly re-invented itself to sustain its relevance to Indian culture and the Indian ethos. Not only does Kurkure provide an inimitable taste and superior quality, it has also brought fame and happiness to many through its ‘Chai-time-achievers’ face on pack initiative.Kurkure Desi Beats: Kurkure Desi Beats is an exciting new range of crunchy triangular snacks in irresistible Indian flavours. This newly launched youth-oriented sub-brand personifies our inhere nt ‘Desi’ spirit and gives one the license to be Desi. Desi Beats celebrates the contemporary Indian youth who straddles both tradition and modernity and is confident of his Indian identity. VARIANTS OF FRITO LAYS CHIPS| Kurkure| Uncle chips| Aliva| 1. Spanish tangy tomato| 1. Masala munch| 1. Spicy treat| 1. Special | 2. American cream and onion| 2. Chili chatka| 2. Chatpata Masala| 2.Special tomato| 3. Classic salted| 3. Funjabi(rajma)| Others | 3. Special salted| 4. Magic Masala| 4. Rajhasthani| Desi beats| 4. Special mint| Winning flavours| 5. Hyderabadi| | New| 5. Hip hop honey| 6. Solid masti twist| | 5. Cream & herb| 6. Cheesy Mexicana| 7. Solid masti khatta-mittha| | 6. Pizza Blast| 7. Tangy twist| 8. Dewana tomato desi beat| | 7. Sweet Chilly| 8. Mastana mango| 9. Flirty lime| | 8. Apple Delight| | 10. Naughty tomato| | 9. Milk Minis Sugar Vanilla| Competition among the variants of Bingo and Lays Chips| | 1. Spicy Masala remix| Chilly Mexicana| . International cream onion| American cream and onion| 3. Juicy tomato ketchup| Spanish tangy tomato| 4. Red chili bingo| Magic Masala| 5. Premium salted| Classic salted| Bridges | | 6. Mad angle tomato| Kurkure Dewana tomato| 7. Mad angle chilli| Kurkure chili chatka| 8. Mad angle achari| Kurkure Rajhasthani| 9. Hatke-Jhatke Funky| Kurkure Funjabi| 10. Hatke-Jhatke Tomato| Kurkure Naughty Tomato| 11. Tedhe-Medhe| Kurkure Masala Munch| Market Pattern (India) S. W. O. T Analysis of Bingo Strengths 1. Excellent branding and advertising on TVCs and print ads 2.Great variety of flavours gives customers options 3. Reasonable pricing ensures spontaneous purchase 4. Strong backing of ITC Limited brand name Weakness 1. A slight gap in demand and supply on bingo 2. Lacking in infrastructure as compared to Lays 3. Shallow penetration 4. Not well trained and inexperienced salesman Opportunity 1. Leverage successful brand ITC, especially Atta and biscuits 2. Advertise more to attract target group 3. Buy out sm aller competition and tie-ups with resort, food chains Threat 1. Threat from local substitute snacks 2.Balaji’s strategy – winner in terms of quantity Observation at W. D. Point a. The WD point is very well connected to all the nearby areas/locality/potential b. ITC use software that is called SIFY to prepare bills and detail information product wise, variant wise, summarize sales reports are make in the help of this software. Format of sales report code of the goods are in this. c. ITC gives 3. 5% margin to his distributors and d. ITC bears vehicle cost. e. CALCULATION OF PRICE TO RETALIER (PTR) = f. MAXIMUM RETAIL PRICE ( MRP) 100 + % MARGIN g. Basic terms LC: Line cutBC: Bill Cut UBO: Unique Bill Outlet ABV: Average bill value CFC: Collaret Fibre Container ABC: Average Bill Cut ALC: Average Line Cut TDP: Temporary Dispatch Time h. The salesman here lack the competent skills and they are not so knowledgeable about the product and the variants i. They lack persuasion and convincing technique j. Majority are inexperienced because they are new k. It has been observed that a lot of time is wasted in loading the stock in the vehicles and getting the stocks billed l. Salesman turnover ratio is high. Findings I. Works assigned wereTo check the availability, visibility and DND (if any) of Bingo at retail outlet. While doing this, I understood about distribution and stocking process at WD (Wholesale Distributor) point which are as follows: A) Ordering Booking Process B) Ready Stock Process. From the above mentioned works assigned and the objectives given, the Retailer point of view was clear II. To collect information of Frito-Lays and analyze the data thereafter. For that I have interviewed Frito-Lays distributors and company official i. e. Chetna Traders III. In order to overcome weakness, my recommendations and contributions.In the duration of my project I used to visit the market daily, in the initial 7 days as a DS (distributor salesmen) and from t he 8th day onwards as a supervisor with DS and analyze the market of ITC Bingo and Frito-Lays. While checking availability and visibility of Bingo snacks at Retail Outlets I came across following observations: 1) ITC has a good mix of traditional and modern type of distribution channel. 2) The response of customer towards Bingo is positive. 3) At major outlets the sale is good. 4) At big retailers there is a huge demand 5) Like Bingo there is only one Distributor for Lays in Andheri – Chetna Traders ) Small ‘Kirana’ shops and retailer get confused among the variants of Bingo! 7) All the shops where Lay’s and Bingo are not present, Balaji has dominated. 8) Shopkeepers ask for more credit even if they have and are already on credit 9) The total coverage of ITC Bingo snacks falls very short in comparison to Frito-Lays. 10) The problem is the lack of coverage and infrastructure 11) Lack of competent advertisement. 12) Bingo Lacking the Infrastructure 13) Balaj i is also a cut throat competitor 14) Lays have fixed PTRs 15) Balaji who who hardly spends on rack and nets also has PTRs and schemes 6) Parts of Jogeshwari, IRLA, lalubhai, Marol Military road are dominated by Balaji and then Lays 17) Unlike Lays and Balaji, Bingo faces a gap in demand and supply. 18) All the variants are never available at the W. D. point Analysis & Interpretation Demand of Bingo Interpretation: 1. The demand for Bingo is good and increasing because – Bingo! Is positioned as a youthful and innovative snack, offering the consumers with choice in terms of both formats and flavors including Local tastes. 2. Also because the name is catchy, easy to pronounce, recallable, trendy. 3. Bingo identifies itself as a brand which is youthful, fun and colorfulCriteria kept in mind when Retailers sell Bingo Interpretation: 1. After having a face to face communication with the retailers it was observed that the major influence they see in the buying pattern of the consum ers is that the consumers go for quality first then the size. 2. Similarly the criteria that the retailers keep in mind is at first the quality then the size but also the margin, because there a lot stiffness among the competitors and their schemes and offers. 3. In low income areas/slum areas retailers prefer to go for Balaji to any other because the consumers there go for the size/ quantity 4.The big and organized retailer go for the quality and Margin 5. Giving competition to Lays Interpretation: 1. Lays has revamped its branding strategy with new promotions featuring actress like Juhi Chawla, Kareena Kapoor etc. 2. About 35 AC BEST buses in Mumbai and metro in Kolkata are now branded by Kurkure 3. But Bingo has managed to do a dent in Lays market share. Is the fact that ITC spend close to 3 years researching, finding and analyzing the Finger snack segment to come up with its own indigenous variety responsible for Bingo's success. Problems faced to sell ITC BingoInterpretation: 1 . Brand Loyalty of Lays customer is posing threat to Bingo 2. Stagnant Market Share 3. Unawareness of the variety of flavours introduced by Bingo 4. Threats of local players like Balaji, Haldiram and Diamond Effect on sales by improving infrastructure Interpretation: 1. ITC was the first one to introduce racks which has helped them to achieve a considerable increase in terms of sales and visibility and availability. 2. Lays has heavier promotional activities, better infrastructure as it has modified racks which gives the advantage of keeping more stock 3.It is noted that Lays keeps on bringing in new packet ranges which Bingo does not. For e. g. the Rs 15 packets, Rs 30 packet and combo offer of 4 packets of Rs 20 each for Rs 60 4. Lays has more racks than Bingo Convincing the customer to purchase Bingo Interpretation: 1. The convincing is not required because Bingo has maintained the quality throughout since its launch 2. It is in good competition with Lays 3. Consumers can easily recall the brand and the product Rating Bingo and Lays Interpretation: 1. It can be seen from the data that at some stages Bingo is at par with the market leader Lays 2.Lays has a better and deeper penetration. 3. Lays has more salesman as compared to Bingo’s 4. Consumer’s point of view – Lays has many and clearly distinguished flavours Rack availability of Bingo as compared to Lays Comparing Bingo! To Lay’s 1. It is difficult to make out the flavour from seeing the colour of the packing which is not the case with Lays 2. Lays penetration is deep, and they have done it by reducing the demand supply gap and arranging better visibility by providing racks more than competitors. 3. Lays also gets the upper hand because it keeps on coming with new schemes, for e. g. hey give 4 Rs20 packet for Rs 60, we have no such schemes 4. Lays even has modified racks, customized to hold/contain more packets, this is some good strategy keeping in mind that it was ITC who ha d come up with the rack system. 5. Lays has a higher demand as compared to Bingo because of its promotion, they have characters in their advertisement which public/consumers can recollect even at a later stage e. g. Saif Ali Khan, M. S Dhoni whereas in Bingo we do not have such concept. Although it is noticeable but after having a considerable interaction with the retailer this is the most common topic they had put up. 6.The major difference between Lays and Bingo is that Lay’s as a brand has related itself to cricket. Relating to cricket is the promotion strategy in which the brand relates itself to the events and experience, and in Mumbai or in Maharashtra or in whole of India cricket mean mass, this way Lays already has a strong grip than Bingo. 7. Lays have a better, stronger and an efficient distribution system, talking in terms of availability of product then Lays is always available where Bingo falls short here as the stock is sometimes available and sometimes not caus ing inconsistency in the availability of the product. 8.Though it can be stated that because Lays has been in the market for a much longer period than Bingo so it has the brand advantage but Bingo still lags way behind in the a competent distribution process 9. Lays has 30% more rack installed than Bingo, making it the prime reason for the retailer to buy the product Porters 5 forces Model Threat of new entry: * As the market is growing at 30 percent annually, new entrants may consider it a profitable venture * As branded players are priced similarly, new players might penetrate by adopting a lower price or by offering more quantity at the same price (Balaji-strategy) New players with a distinct USP and marketing strategy may find it easier to enter the market (Bingo Strategy) * Unorganized players still account for half of the total wafer segment, thereby discouraging market entry * Veteran players such as Fritolay, Haldiram etc enjoy economies of scale, well-established distributi on and good distributor relations. Competitive Rivalry: * High Competition – Branded Players involved in cut-throat competition to increase market share, entice new consumers, find new markets * Low Quality differences among branded players. Quality difference between branded and unbranded offerings is offset by low price offered by unbranded players * Cost of switching is low as all players have a similar pricing strategy * Brand Loyalty is high for branded players Bargaining power of suppliers * Suppliers provide raw materials such as potatoes, spices and other ingredients. * Their ability to raise input costs is high. * Higher cost of input commodities leads to lower margins, making the market unattractive for distributors and retailers (in an already low-margin, high-volume market) Shortage of any input material may also affect production and thereby impact distribution. * Veteran players like Fritolay and ITC already have a well- established network of suppliers. ITCâ₠¬â„¢s e-choupal venture permits a steady supply of raw materials at the lowest price. Bargaining power of Buyers * Frito-Lay enjoys a healthy lead with a 45 percent market share for its portfolio of products * Competitor differentiation is in terms of variants and communication. * Ability to substitute is high as brands are priced similarly and distribution problems for one brand promote sales for the other. Price Sensitivity is high. An increase in the price of Lays may promote a switch to Bingo for most buyers (except for loyalists) * Threat of substitutes: * Indian Snack Segment is high-volume, low-involvement driven (thrives on impulse buy) * All snacks are considered to be substitutes of each other * Biscuits, Wafers and local snacks like Chakli, banana chips, Farsan etc are all substitutes of one another Recommendations/Suggestions 1. For distribution different vehicles should be used which has opening from 3 sides because a lot of time is wasted in the unloading the particula r order 2.The market report should be prepared more thoroughly 3. The routes should be predefined and the salesman should not mix up the routes 4. Some routes are very small to be covered for order booking for Bingo like IRLA Market so it can be combined with Lalubhai market 5. There should be less variations in giving different schemes to multiple shopkeepers as they eventually come to know about the schemes given to other shopkeepers and then they raise their demand to either reduce net rates or give additional schemes 6.Bingo can come up with different shapes of packaging in small areas where there is more sale of Rs 5 packet e. g. triangular packs, as they do not need racks to be put in because different packaging always attracts consumers. 7. Should increase the size of Rs 5 packets, because this is the main reason for less sale of Bingo, on the other hand Balaji is also tough competitor in terms of quantity 8. Company can opt for seasonal promotions because the sales in the mo nth of May-June are very low because the schools are closed. 9.Gift packs or combos with 4-5 flavours can be introduced in this period only 10. Posters on buses and trains can be done for e. g. the way Fanta has utilized the opportunity on local trains of Mumbai 11. Brand ambassadors should be introduced because Bingo has almost completed 5 years in the market, brand ambassadors because people can then relate to the brand and or the product 12. Also because Lay’s our prime competitor has quite some good brand ambassadors like Saif Ali Khan, M. S. Dhoni 13. Relating Bingo to current burning topics, the same way AMUL does in print ads. 4. Having too many flavours is causing some problem because the customers and even the retailer are not able to differentiate between different variants. 15. Even though it’s a good strategy as people are forced to try each flavour, the ones which are not going good in the market should be removed from the company’s portfolio. 16. T his would reduce the problem of confusion amongst the consumers. Conclusion From the survey of the retailers and the market comparison following conclusions can be drawn 1. Bingo’s sale has noticably increased by providing good infrastructure . Retailers put Bingo next to Lays which is a market leader 3. Such an brand image has to created which creates a lasting image, which can be done by introducing a couple of brand ambassadors 4. Lays still has the upper hand because it has been in the market for a longer time as compared to Bingo 5. Improving the distribution level to meet up the competition given by lays is the only way to cover up the demand suppy gap 6. Though Bingo is of good quality as noticed but it is yet to meet International Standards to give more stiff competition to Lays 7.In small localities Balaji is preferrred 8. A lot of time is wasted during the unloading of the order/stock during the ready stock. It is not thecase with Lays because the order for Lays are in bulk and as per the CFC boxes. Annexure QUESTIONNAIRE (RETAIL OUTLET) Outlet Name: – Outlet Type: – Route: – 1. How is the demand of Bingo? a) Very good ___b) good ___c) average ___ d) below average __ 2. Stock availability of various brands a) Lays ____ b) Bingo ____ c) Haldiram ____ d) Balaji_____ e) Parle______ 3. What criteria you keep in mind when you sell your product? ) Focus on Quality_____ b) Focus on Price____ c) Focus on Size___ d)Focus on Margin____ 4. How far do you think ITC Bingo has captured market over Lays? a) On a Small Scale_____b) On a Large Scale________ 5. What problem you face to sale ITC Bingo!? a) Size____ b) Brand Loyalty for other Brand_____ c) Lack of Awareness_____ d) Any Other 6. Has the sale increased by improving the infrastructure by Bingo? a) Highly Increased____ b) Increased____ c) Somewhat Increased__ d) Not at all increased 7. Do you have to convince customer to purchase Bingo? ) Yes ___ b) No ___ 8. Please assign a valu e from 1-5 to BINGO & LAYS a) For Excellent5 b) For Very Good4 c) For Good3 d) For Average2 e) For Bad1 9. Do you have a rack of Lays? a) Yes____b) No_____ 10. Do you have a rack of Bingo? a) Yes____b) No_____ References 1. http://www. itcportal. com 2. http://www. nowthatsnifty. com/2012/01/204-lays-potato-chip-flavors-from. html#. T9zOwCEggUg 3. http://www. the-top-tens. com/lists/best-flavour-lays-india. asp 4. http://pepsicoindia. co. in/media/fact-sheet. html