Dippin Dots UK

Case 34: Dippin’ Dots Ice Cream and Coffee? 1) What elements in the external environment might affect Dippin’ Dots’ strategy? * The threat of new entrants into the industry creates more competition. * The power of the suppliers and buyers. As the present competition and potential new competition in the â€Å"frozen desserts† segment, have a major effect externally. * There are already substitutes to the Dippin’ Dots’ products, but there is still threat of new substitutes. * Intense rivalry is among Dippin’ Dots’; there are many imitators of this product. * Due to the market prices, the economy has a great impact on sales. ) What internal resources does Dippin’ Dots have that might help it support its competitive strategy? * A Unique Value Chain * Professional business connection with McDonalds. * The human intellectual knowledge was what separated Dippin’ Dots’ from others. * Jones was a microbiologist, * R& D is one major key in the Dippin’ Dots’ market, after all that’s how Mr. Jones started. * Example Mr. Jones developed the â€Å"microencapsulating†. * Entrepreneurial leadership was how Dippin’ Dots’ was created, and have leaded them to a creative mindset. * One of the 500 fastest growing companies, ranked #4 on the Entrepreneur magazine’s 2004 list. Total quality management lead to the quality of products and processes that Dippin’ Dots’ creates. 3) What is Dippin’ Dots’ competitive strategy, and what is the basis of its competitive advantage? * Total Quality Management: * The quality standards are maintained throughout the organization. * The overall product is a competitive strategy in itself. * Procedures, processes and resources needed to implement quality management, and are determined by the quality of the product, the satisfaction of the customer, cost analysis, revenue, and management performance. The Growth and Expansion * Interest is increasing for Dippin’ Dots’, and other entrepreneurs contacted Jones about opening up stores to sell. * Dippin’ Dots’ has grown into a multimillion dollar company gaining more dealers. * Franchise Dippin’ Dots’. 4) How has an entrepreneurial strategy and the management of innovation helped Dippin’ Dots establish its competitive edge? What challenges remain for Curt Jones? * Entrepreneurial Strategy * Family Business Model * Adaptive new entry * Ability to begin franchises, and get their names out there. * Management Innovations Incremental innovations through the development of new ways to make Dippin’ Dots’ even more of a threat. * Sustainability to be able to continue to grow their business. * Curt Jones got a patent for public disclosure of the invention. * Challenges for MR. Jones * There is always going to be completion that could impact the company, especially their popularit y. * Advertising can be an issue, there is a lack of it in the market, and is only marketed in certain areas. * Finding was to continue to make Dippin’ Dots’ rare and difficult to imitate, because so many frozen dessert companies are trying to come close to imitate the ice cream dots.

Innovation in Cosmetic Industry

ABSTRACT : Innovation is one of the most important issues in business research today. It has been studied in many independent research traditions. Our understanding and study of innovation can benefit from an integrative review of these research traditions. In so doing, various topics of consideration have been identified and studied. Consumer response to innovation, Organizations and innovation, which are increasingly important as product development becomes more complex and tools more effective but demanding; techniques for product development processes, which have been transformed through global pressures, increasingly accurate customer input. Innovation is the core business competency of the 21st century. In order to not only compete and grow but to survive in a global economy, businesses must innovate. To date innovation has been approached in a piecemeal fashion often linked solely to the New Product Development (NPD) process. There has been a remarkable increase in R&D investment by industries at global level over a number of years. The area of R&D in industry with the highest rate of growth over the past six years has been in directed basic research. Innovation and the effective management of technology have become a top priority for nations as well as companies, to stimulate economic development and strengthen their competitiveness. Allocation of R&D for the development of new businesses is seen as a key growth strategy by firms in most parts of the world. New products are engines to growth and prosperity for all companies in the manufacturing sector or the service sector. In this article, an attempt has been made to explore the drivers of new product performance, with a particular focus on cosmetic industry. P&G is considered to be one of the companies dealing with cosmetics with the best innovation strategies, and hence it has been taken as an example for the study. The Innovation Diamond is introduced by P&G as an integrative and guiding framework to help management focus on what’s important to success: innovation strategy, a solid idea-to-launch process, portfolio management and the right climate and leadership. (Keywords : Innovation, R&D, Cosmetic industry, P&G, success, Product Development. ) INTRODUCTION : Innovation, the process of bringing new products and services to market, is one of the most important issues in business research today. Innovation is responsible for raising the quality and lowering the prices of products and services that have dramatically improved consumers’ lives. By finding new solutions to problems, innovation destroys existing markets, transforms old ones, or creates new ones. It can bring down giant incumbents while propelling small outsiders into dominant positions. Without innovation, incumbents slowly lose both sales and profitability as competitors innovate past them. Innovation provides an important basis by which world economies compete in the global marketplace. Innovation is a broad topic, and a variety of disciplines address various aspects of innovation, including marketing, quality management, operations management, technology management, organizational behaviour, product development, strategic management, and economics. Research on innovation has proceeded in many academic fields with incomplete links across those fields. For example, research on market pioneering typically does not connect with that on diffusion of innovations or the creative design of new products. Overall, marketing is well positioned to participate in the understanding and management of innovation within firms and markets, because a primary goal of innovation is to develop new or modified products for enhanced profitability. A necessary component of profitability is revenue, and revenue depends on satisfying customer needs better (or more efficiently) than competitors can satisfy those needs. Research in marketing is intrinsically customer and competitor focused, and thus well situated to study how a firm might better guide innovation to meet its profitability goals successfully. To encourage and facilitate further research on innovation in marketing, we seek to collect, explore, and evaluate research on innovation. Key goals of this paper will be to provide a structure for thinking about innovation across the fields, highlight important streams of research on innovation, suggest interrelationships, and provide taxonomy of related topics. Successful innovation rests on first understanding customer needs and then developing products that meet those needs. Our review of the literature, therefore, starts with our understanding of customers and their response to and acceptance of innovation. Because we are interested in how firms profit from innovation, the article will then review organizational issues associated with successfully innovating and with how organizations adopt innovations. Customer understanding and the organizational context are underpinnings to innovating successfully. They must be in place before proceeding. Then the flow of innovation will be discussed. SUCCESS FACTORS IN AN ORGANISATION: Success factors for an organisation predominantly identified in the research papers are : †¢ Product innovation †¢ R&D investment †¢ Leadership commitment, Clear understanding of the company’s capabilities, †¢ Strong connection to the customer and a deep understanding of major customer problems, †¢ Willingness to take big but well-understood risks. PRODUCT DEVELOPMENT : Once consumer needs are understood and organizations for innovating and strategies are in place, then begins the execution part of innovation—moving from having a strategy to conceiving a concept to delivering against that strategy, to designing the final product and its manufacturing process, to finally having a (hopefully successful) commercial product. This section examines research that has sought to improve this process of product development (PD), which is predominantly prescriptive in nature. We begin with a brief review of product development processes, then will discuss about the research applicable to each of various stages of product development. PRODUCT DEVELOPMENT PROCESSES : The emerging view in industry is of product development as an end-to-end process that draws on marketing, engineering, manufacturing, and organizational development. The core of this process is the product development funnel of opportunity identification, design and engineering, testing, and launch. Previous researches recognizes that, for a single successful product launch, failures will be many, although some may be recycled, reworked, and improved to become successful products. Even when a product has been in the marketplace, innovation continues as the firm continually searches for new opportunities and ideas. Researches also recognize the current hypothesis that firms are most successful if they have multiple product concepts in the pipeline at any given time, forming a portfolio of projects. These projects might relate to independent products but increasingly are based on coordinated platforms to take advantage of common components and/or economies of scope. Risk is inherent in product development; few of the many concepts in a portfolio are likely to be successful. Information to evaluate alternative concepts is often imperfect, difficult to obtain, and hard to integrate into the organization. For each success, the process begins with 6 to 10 concepts that are evaluated and either rejected or improved as they move from opportunity identification to launch. RESEARCH CHALLENGES : PD processes are only as good as the people who use them. Structured processes force evaluation, but evaluation imposes both monetary and time costs. Teams can be tempted to skip evaluations or, worse, justify advancement with faulty or incomplete data. There are substantial research opportunities to understand the optimal trade-offs among evaluation costs, the motivations of teams for accuracy, and the motivations of teams for career advancement. For example, advancing a concept to the next stage in either a sequential or spiral process requires a hand-off. New team members must have sufficient data to accept the hand-off. In some instances, the old team members are now required to look for new projects—a disincentive to advancing a concept through the gate. Marketing, with its tradition of research on people, whether they are customers or product developers, have many research streams that can inform and advance the theory and practice of PD processes. Despite this, we have seen little formal investigation of the link between marketing capabilities and PD processes. The most critical research challenges in this area include, Improving the effectiveness of non sequential PD processes; Understanding which process is best in which situations; Understanding when it is appropriate to modify processes; Linking marketing capabilities and PD processes; Understanding the explicit and implicit rewards and incentives that encourage PD teams to either abide by or circumvent formal processes. Both market orientation and innovation have been identified as crucial success factors in companies. A positive impact of market orientation and innovation on company performance has been found in many industries and under a wide range of market characteristics. Research on market orientation is focused in particular on large companies. However, market orientation is expected to be important for small companies as well as large companies. Research in this field for small firms is relevant because small companies are widely represented in important industries like retailing, services and agriculture. Research has shown the importance of market orientation for the success of product innovations. A market orientation may stimulate innovations and increase the performance of innovations. In this paper we will focus on innovations in small independent companies that do not have the capacity for R&D as opposed to innovations in medium sized and large companies. Various models about the relationship between market orientation and innovation have been proposed examined the impact of market orientation on innovation characteristics using measure for market orientation. Many studies that focus on factors discriminating between successful and unsuccessful innovations conclude that market orientation is one of the main contributing factors to innovation success. INNOVATION Innovation is the creation of better or more effective products, processes, services, technologies, or ideas that are accepted by markets, governments, and society. Innovation differs from invention in that innovation refers to the use of a new idea or method, whereas invention refers more directly to the creation of the idea or method itself. The word innovation derives from the Latin word innovatus, which is the noun form of innovare â€Å"to renew or change,† stemming from in—†into† + novus—†new†. Diffusion of innovation research was first started in 1903 by seminal researcher Gabriel Tarde, who first plotted the S-shaped diffusion curve. Tarde (1903) defined the innovation-decision process as a series of steps that includes: First knowledge, Forming an attitude, A decision to adopt or reject, Implementation and use, Confirmation of the decision, Innovation. Innovation is the process by which an idea or invention is translated into a good or service for which people will pay, or something that results from this process. To be called an innovation, an idea must be replicable at an economical cost and must satisfy a specific need. Innovation involves deliberate application of information, imagination, and initiative in deriving greater or different value from resources, and encompasses all processes by which new ideas are generated and converted into useful products. In business, innovation often results from the application of a scientific or technical idea in decreasing the gap between the needs or expectations of the customers and the performance of a company's products. In a social context, innovation is equally important in devising new collaborative methods such as alliance creation, joint venturing, flexible working hours, and in creating buyers' purchasing power through methods such as layaway plans. INNOVATIONS ARE DIVIDED INTO TWO BROAD CATEGORIES: (1) Evolutionary innovations are brought about by numerous incremental advances in technology or processes and are of two types a) Continuous evolutionary innovations result in an alteration in product characteristics instead of in a new product, and do not require any user-learning or changes in his or her routine. Examples are the multiblade shaving razor, fluoride toothpaste, and laptop computers. (b) Dynamic continuous evolutionary innovations require some user-learning but do not disrupt s his or her routine. Examples are fax machines, instant photography, and handheld computers. (2) Revolutionary innovations (also called discontinuous innovations) require a good deal of user-learning, often disrupt his or her routine, and may even require new behaviour patterns. Examples are photocopier (xerography) machines, personal computers, and the Internet. Innovation is synonymous with risk-taking and organizations that introduce revolutionary products or technologies take on the greatest risk because they have to create new markets. A less risky innovation strategy is that of the imitator who starts with a new product (usually created by a revolutionary-innovator) having a large and growing demand. The imitator then proceeds to satisfy that demand better with a more effective approach. Examples are IBM with its PC against Apple Computer, Compaq with its cheaper PCs against IBM, and Dell with its still-cheaper clones (sold directly to the customer) against Compaq. Although many innovations are created from inventions, it is possible to innovate without inventing, and to invent without innovating. NECESSITY FOR INNOVATION â€Å"Innovation will be the necessity for social and economical growth of the nation in future. We live and die through relative innovation. The world has changed because of innovation only. Science is responsible for all the innovations we feel around,† remarked Srinivasan K. Swamy, President, All India Management Association (AIMA), New Delhi A light bulb overhead may signal a bright idea in cartoons and comic books, but in today's business world companies can't sit around waiting for creative bolts of inspiration. Long-lasting success requires a process of innovation that is predictable and consistent. Today innovation is necessary to survive. The global market has become so competitive that innovation is now as valuable an investment as sales and marketing. Markets are becoming more global, not less, so the value of innovation will continue to increase. Here's why: a) The best ideas and technologies spread rapidly around the world now. A company with a new product may make a one-time splash, but before long everyone else will have adopted it. A consistent, predictable innovation process enables companies to overcome this. b) Brands aren't as powerful as they used to be. Experience is now more important than brand name as the basis for a person's purchasing decision. The Internet allows people to share experiences about a company with millions of others. People now choose the products that give them the highest value, not just the best-known brands. Relying on a strong brand name is no longer enough. Consistent, predictable innovation is the answer. The Society of Management Accountants calls â€Å"innovation†¦fundamental to the quest for profitable, sustainable growth. †3 Peter Drucker, probably the most insightful management guru ever, deems it the one business competence needed for the future. Fortune magazine’s advice to companies who want to be named to its Most Admired List? Innovate, innovate, innovate. Innovation currently accounts for more than half of all growth. And it is enormously profitable. A study done on the rate of return for 17 successful innovations showed a mean return of 56% compared with an average ROI of 16%. Companies are catching on to this sea change. In an Ernst & Young study, European and North American companies called innovation the most important criterion for success in the future. Even technology firms who presumably are leading this charge consider â€Å"making innovation happen† the industry’s single biggest problem. COSMETIC INDUSTRY Indian cosmetics industry has witnessed strong growth during the past few years and has emerged as one of the industries holding immense future growth potential. The cosmetics industry registered impressive sales worth Rs 288. 7 Billion (US$ 5. 8 Billion) in 2010. The sector has mainly been driven by improving purchasing power and rising fashion consciousness of the Indian population. Moreover, the industry players are readily spending on the promotional activities to increase consumer awareness. According to our new research report â€Å"Indian Cosmetic Sector Analysis (2009-2012)†, Indian cosmetics sector is expected to witness noteworthy growth rate in near future, owing to the rising beauty concerns of both men and women. The industry holds promising growth prospects for both existing and new players. The baseline for the optimistic future outlook of the Indian cosmetics industry is that, there has been a rise in variety of products offered by the industry players. Moreover, the companies have started opting for online retailing and are offering specialized products to generate revenue from all the corners. Rising usage of Cosmeceuticals and Nutricosmetics by the Indian consumers will also pave way for the Indian cosmetics market during the forecast period. Our research report incorporates an innovation of the cosmetics industry in India. It provides segment level analysis of the industry along with the emerging trends and innovation that happened in the previous years. INNOVATION IN COSMETIC INDUSTRY The cosmetics industry is a lucrative, innovative, and fast-paced industry. It is also a key market segment in the retail industry. In it they highlight the following products as examples of what cosmetic companies are doing to create â€Å"innovative† products. 1. Soap from a lingerie company 2. Men’s cologne in a bottle shaped like a #1 3. Nanotechnology skin care cream 4. 3D anti-ageing skin mask. The only product that could have some technological innovation is the one based on nanotechnology. Unfortunately, there are no claims given and you could easily make the product by creating a standard skin lotion with added, non-functional nanotechnology. If cosmetic companies really wanted to set their products apart from the competition, they need to create formulas that solve consumer problems in some superior way. Consumers don’t care about how their products work (say nanotechnology), they care about the end results. The major sections of cosmetics in this industry are : sun care, skin care, hair care, body care and perfumes and decorative cosmetics. SUN CARE The World Health Organisation (WHO) recommends regular sun screen use to help protect skin against UV radiation†¢ Significant industry investment has helped develop increasingly effective and appealing sunscreens that – Offer broad UV (both UVA and UVB) protection – Contain a combination of nano-sized mineraln (e. g. titanium dioxide) and organic UV filters to offer high levels of protection – Have applications that suit all lifestyles and consumer needs SKIN CARE : Skin maintenance is important because skin is the largest organ in the body, serving as a vital defence barrier. This also makes it particularly vulnerable to damage . Regular cleansing and caring improves hygiene, prevents pores from becoming clogged, removes dead skin cells and protects against external elements Dermatological research continually leads to more effective and gentle applications that address different skin types such as dry or aged skin. †¢ Dec 30, 2011 – Euromonitor Reports Growth in Skin Care Market in Africa & the Middle East Between 2005 & 2010. As new opportunities for skin care in key developed markets slowly dry up, much stronger growth forecasts for the category in many markets in Africa †¢ Dec 28, 2011 – R Highlight – Angle-dependent Interference Pigments Multilayer pigments alternately coated with layers having high and low refractive index are known in the art. The optical effect of the pigments †¢ Dec 14, 2011 – Editorial – Future-Touch Translates Future Trends into Innovation †¢ Dec 14, 2011 – Article – UK spa company Elemis has established itself as a leading professional spa company as well as a strong contender in the retail cosmetics market. HAIR CARE : Products: Shampoos, conditioners, hair colourants, texturisers, serums, hair sprays, growth stimulators, anti-dandruff shampoos, lotions. Improved personal hygiene via treatment of dandruff, itchy scalp, greasiness Enables self-expression, helping consumers have confidence in their appearance and greater self-esteem Meeting specific consumer needs such as controlling fly-away hair, taming unruly hair with relaxants, adding texture to limp hair, repairing damaged hair and restoring colour to aged hair BODY CARE : Products: Soaps, antiperspirants, deodorants, body washes, shower gels, body lotions, scrubs, oils. Benefits: Soap represents a significant historical public health advance, helping break down grease and dirt Antiperspirants and deodorants enhance comfort and hygiene by helping avoid excessive perspiration and resulting body odour Non-soap detergent bars enable mild cleansing for consumers with skin conditions (eczema, rosacea, mild atopic dermatitis, etc. ) PERFUME : Products: Perfumes, colognes, salves, scented oils Benefits: Fragrances play a significant role in enhancing personal well-being Aromatherapy research reveals that smells influence our emotions, inspire creativity and are the fastest memory triggers The sense of smell is proven to be an important factor in the process through which we form relationships. DECORATIVE COSMETICS : Products: Foundations, blushes, powders, eye Benefits : Make-up enables self-expression, helping consumers have confidence in their appearance and greater selfesteem Clinical research confirms that the ability to take care of your appearance during illness increases confidence and can aid the healing process Science is at the heart of every cosmetic product. R programmes generate new patents every year and in 2009, over 2600 (an estimated 10% of all patents granted in the EU) were awarded to the cosmetics industry. Scientists from a wide range of disciplines such as physics, microbiology, biology, toxicology, rheology, analytical chemistry and genetics apply their skills in the European cosmetics industry. In total, the European cosmetics industry employs approximately 17,000 scientists. R programmes investigate consumer behaviour and beauty aspirations, the biology of skin and hair, new innovative technologies and sustainable development; this helps to select the best ingredients which are the most respectful of human health and the environment, and to create new formulations which respond to both expectations and challenges Innovation is vital for the European cosmetics and personal care products industry. It can take over 5 years of innovative research and formulation to bring a new product to the market Every year, a quarter of all cosmetic products on the market are improved or are completely new. Europe is the flagship producer and mass consumer market of cosmetics and personal care products in the world. Ongoing changes in the environment and in consumer lifestyles require new innovations that meet increasing needs, such as caring for and protecting skin from sun and weather damage SUSTAINABILITY The cosmetics industry is committed to sustainability and aims to: Reduce the environmental impact of the sector and its supply chain, from ingredient sourcing through to packaging. Ensure a balance between the economic, environmental and social pillars of sustainability WHY INNOVATION IS REQUIRED IN COSMETIC INDUSTRY : Cosmetic products are important consumer products with an essential role in everyone's life: apart from â€Å"traditional† cosmetic products, such as make-up and perfumes, it also includes products for personal hygiene, for example tooth-care products, shampoos and soaps. Today's cosmetic market is driven by innovation including new colour pallets, treatments targeted to specific skin types and unique formulas concentrating on different needs. Most cosmetics products have a lifespan of less than five years and manufacturers reformulate 25% of their products every year. They need to improve products constantly in order to stay ahead in a highly competitive market where more choice and ever greater efficacy are expected by the consumer. The European cosmetics industry is a world leader and dominant cosmetics exporter, a highly innovative sector and a significant employer in Europe. The EU's involvement concerns mainly the regulatory framework for market access, international trade relations and regulatory convergence, all aiming to ensure the highest level of consumer safety while promoting the innovation and the competitiveness of this sector. Innovation is important for any business but for cosmetic industry it is a necessity. Recently Several hundreds of key representatives from the European cosmetics industry have gathered in Brussels to discuss the importance of industry on the European economy and how it can build for a sustainable future. Discussion at the General Assembly focused on â€Å"Science, Beauty and Care : Innovating for a Sustainable Future†. Fabio Franchina, President of Colipa mentioned â€Å"Today’s cosmetic industry, is more dynamic and innovative than ever, and we are committed to ensuring that we contribute fully to a truly sustainable uture. † He also mentioned that â€Å"innovation is the life-blood of the cosmetic industry† This product innovation strategy guides the business’s New Product Development direction and helps to steer resource allocation and project selection. In the mid-1990s, P&G’s Cosmetics business lacked a business and product innovation s trategy, the result being that Product Development efforts were scattered; many different initiatives were launched in many different product categories and segments in a futile attempt to win. There was no focus. The first element was a product innovation strategy. Indeed, the real breakthrough occurred in the Cosmetics business turnaround when the business leadership team began a rigorous business planning process leading to clearly defined objectives, goals, strategies, and measures. A much more concentrated innovation strategy was elected, focusing on lips, face and eyes, rather than the entire body. Next important facet of strategy meant getting the supply chain under control: end-to-end supply network management. Management streamlined the supply network so that production and shipments were tied to market demand. As a result, they were able to reduce the time in the supply network, thereby eliminating much of the product obsolescence generated with each new product launch. By focusing first on an innovation strategy for the business, the stage was set for effective Product Development. The message is that if your business lacks a product innovation and technology strategy, you are missing a key element of successful product innovation. This strategy should include the goals for the business’s product innovation effort and how these goals tie into the broader business goals. This strategy is more than just a list of this year’s development projects. It has a much longer-term commitment. The innovation strategy also includes defining strategic arenas or areas of focus, much like the Cosmetics business did. That is, you need to define the product, market, and technology areas in which the business will focus its Product Development efforts. The key here is focus. Innovation is important on different levels and is also important for different reasons. Innovation is an important driver of Economic growth and improvement. For Cosmetic Industry it is for – †¢ Survival Growth †¢ Shareholder return Individual perspective every industry constantly needs to innovate. Industry changes their route to work to become more efficient. They change how they do something (process innovation). They train to broaden their skills (to gain competitive advantage). Virtually all of the economic growth that has occurred since the eighteenth century is ulti mately attributable to innovation. The Economist Intelligence Unit undertook a survey in 2007 which noted that â€Å"long–? run economic growth depends on the creation and fostering of an environment that encourages innovation. Innovation is considered an important driver of long-term productivity and economic growth. Innovation is required to raise productivity, meet the challenges of globalization and to live within our environmental and Demographic limits. Some major reasons for innovation are : ? To survive adverse changes in operating circumstances; ? To make life easier for the customers; ? To gain competitive advantages; ? To protect market share; ? To reposition an organization and raise its profile ? To lead the market and reinforce a reputation as market leader ? To open new horizons so as to get out of a rut or avenues with limited potential ? To attract extra funding ? To raise margins and profitability ? To drive total shareholder returns. FACTORS FOR DEVELOPING AN R&D COSMETIC STRATEGY In this week’s cosmetics and skin care industry post, the New logic portfolio team write about six factors to consider when developing your R&D cosmetics strategy. To research the post we reviewed our cosmetics posts over the last few months, and conducted ancillary research. 1. The Combination of Groundbreaking Formula and User-friendly Packaging In the cosmetics and personal care industry, breakthrough innovations on formulas and packaging are still keys to success as they directly relate to product performance. Cosmetic and skin care chemists search for the ingredients and technology to advance product efficacy, while they also contribute to design innovative package that improve product applications. This is obvious, but it’s the formula, delivery systems and packaging that make all the difference when it comes to developing innovative cosmetics projects. Your R&D cosmetics strategy has to consider what these fundamentals. . Concentrated Product Development A successful cosmetics R&D strategy is efficient in solving two problems: shorten product development times and improve innovation initiatives. In the cosmetics and personal care industry, the diversity of product lines (face, body, lips, and eyes) creates a barrier that prevents the easy innovation across all categories. Experienced leaders use R&D project portf olio optimization to pinpoint innovation projects that align with current resources and leverage the development of existing expertise in a technology. The Maybeline â€Å"Great Lash† Mascara collection has a history of 40 years, during which period its product profile has continued to expand. Maybelline has focused on enhancing the â€Å"Great Lash† product line through conducting consumer insight research, selecting pilot productions and adjusting the R&D process. 3. Consumer-oriented Strategy Any R&D innovations begin with the goal to improve consumer experience. R&D leaders conduct market research to discover problems and collect consumer insights, which if executed correctly can turn into   new treatment solutions and product upgrades. As increasing numbers of cosmetics companies expand worldwide, consumer-oriented strategy also includes outsourcing or moving R&D centers overseas to enhance local R&D capability. For example, L’Oreal China has improved its shampoo formula in order to cater to Asian hair care needs. Overseas R&D centers help facilitate regional research and local talent recruitment. It may also benefit the R&D process in the host country as such outsourcing enables the exploitation of local technology and resources for company-wide projects. 4. The Challenge of Product Diversification While expanding a brand’s product profile is more of a business strategy, cosmetics and skin care R&D departments need a comprehensive technology development strategy to help anticipate risks and structure conceptualization. For example, when a successful skin care company is trying to launch cosmetics lines, the company needs to decide which products to start developing pilot engineering programs. A product development plan that’s been optimized for project selection can allow a company to lay a solid foundation and avoid failures at different stages by understanding what’s possible from the projects to select and implement. . Mergers and Acquisitions Mergers and acquisitions allow merged companies to realize the optimal allocation of R&D resources, such as facilities and capital investments. In this way, R&D departments have the chance to share information and develop better products. In the cosmetics and personal care industry, company mergers and acquisitions may not necessarily lead to the merger of R&D departments. However, a well-established parent company can provide its brands with R&D guidelines that improve innovation capabilities and optimize the product development process. 6. Cross-Industry Development Another future R&D trend are cross-industry solutions, where tighter partnerships with other industries as well as the knowledge of other sciences, such as food and biochemistry enhance R&D knowledge. For example, nutricosmetics was first developed by the Swedish biochemist and scientist Ake Dahlgren, who later founded the first nutricosmetic company Imedeen in the late 1980s. In recent years, L’Oreal and Shiseido have started R&D projects in nutricosmetics, applying what was originally developed from pure science to personal care products. P&G AND INNOVATION Let us now take an example of a leading company P&G and how they improved in cosmetic industry with its Innovation. P&G’s cosmetics business is a case in point where a dramatic turnaround was achieved via a disciplined, holistic approach to new product management. The story begins when P&G acquired the Cover Girl and Clarion cosmetics brands in 1989. Two years later Max Factor was acquired. P&G then applied its tried-and-true approach of leveraging scale and an innovation strategy with a few, big new products. But there was no real business strategy, and efforts were scattered and unfocused. And so, by 1994, management was forced to retreat and retrench. They dropped the Clarion line; and through much of the 90s, senior management at P&G wondered if they should be in the cosmetics business at all! A new line, under the Oil of Olay banner, was attempted but failed, and the entire cosmetics business continued to decline. The turnaround of P&G’s Cosmetics business started in the late 90s when business unit management turned to P&G’s Initiatives, Diamond philosophy. Today, P&G’s Cosmetics business is a healthy, growing, and profitable enterprise. Performance results have significantly improved since the late 90s, and the business is seen as a key growth contributor for P&G. The major factors that drive a business’s new project performance, illustrated in the Innovation Diamond are: Having a product innovation and technology strategy in place for the business; Having an effective and efficient ideato- launch process; Resource commitment, which focuses on the right projects— portfolio management; and People; that is, having the right climate and culture, effective cross-functional teams, and senior management commitment to New Product Development. aha† was that there is no one key to success in product innovation, and thus management stepped back from a focus on individual initiatives and looked at the broader picture. For example, having a great idea-to-launch process is not sufficient; it’s not a stand alone driver of positive performance. P&G’s Initiatives Diamond serves as a guide for each business’s product innovation effort, and helps to focus management’s attention on what is important to success. According to Bob McDonald, P&G’s Vice Chairman of Global Operations, â€Å"The Initiative Diamond played a significant role in improving the business results in P&G’s Household Care global business unit. This work brought us a new discipline to manage our innovation programs and yielded a major increase in the in-market success of our initiatives. They aligned their organization on how to use Stage-Gate ® success criteria, and portfolio and resource management to deliver better innovations for the consumers they serve. [pic] [pic] The top half of P&G’s diamond in Exhibit 2 is strategic in nature, and captures the business’s product innovation strategy: goals, the mix of new products required to meet those goals, and the required resources. Portfolio management (or project selection) is thus closely connected to strategy. The bottom half of the diamond is more operational and focuses on delivering specific new product projects or initiatives: what resources must be put in place for each project; and how individual new product projects are managed so they succeed, using P&G’s idea-to-launch SIMPLâ„ ¢ methodology. Coincidentally, the two diamonds—P&G’s Initiatives Diamond in Exhibit 2 on this page and the research-based Innovation Diamond in Exhibit 1—are almost the same. Each one or both can be used to guide your business’s new product efforts. Here is a quick look at the four drivers of performance and how they work at P&G. Driver #1—A product innovation and technology strategy for the business Best performing businesses put a product innovation and technology strategy in place, driven by the business leadership team and a strategic vision of the business. This product innovation strategy guides the business’s New Product Development direction and helps to steer resource allocation and project selection. In the mid-1990s, P&G’s Cosmetics business lacked a business and product innovation strategy, the result being that Product Development efforts were scattered; many different initiatives were launched in many different product categories and segments in a futile attempt to win. There was no focus. The first element of the diamond is a product innovation strategy. Indeed, the real breakthrough occurred in the Cosmetics business turnaround when the business leadership team began a rigorous business planning process leading to clearly defined objectives, goals, strategies, and measures. A much more concentrated innovation strategy was elected, focusing on lips, face and eyes, rather than the entire body. A second facet of strategy meant getting the supply chain under control: end-to-end supply network management. Management streamlined the supply network so that production and shipments were tied to market demand. As a result, they were able to reduce the time in the supply network, thereby eliminating much of the product obsolescence generated with each new product launch. By focusing first on an innovation strategy for the business, the stage was set for effective Product Development. The message is that if your business lacks a product innovation and technology strategy, you are missing a key element of successful product innovation. This strategy should include the goals for the business’s product innovation effort and how these goals tie into the broader business goals. This strategy is more than just a list of this year’s development projects. It has a much longer-term commitment. The innovation strategy also includes defining strategic arenas or areas of focus, much like the Cosmetics business did. That is, you need to define the product, market, and technology areas in which the business will focus its Product Development efforts. The key here is focus. Driver #2—An effective and efficient idea to- launch system Studies show that an effective new product process, such as Stage-Gate ®, exists in top performing businesses, a system that drives new product projects from the idea phase through to launch and beyond. In P&G’s Cosmetics business, developing an innovation strategy was a solid first step, but the means of implementing strategy must be in place too. So management turned to a second element of the diamond, namely P&G’s SIMPLâ„ ¢Ã¢â‚¬â€the Successful Initiative Management and Product Launch model. SIMPLâ„ ¢ is a stage-and-gate new product process, a methodology for driving new product p rojects from the idea phase through to launch and into post-launch The SIMPLâ„ ¢ model forced project teams to do their homework early in the project. For example, much consumer research work was undertaken, and consumer insights gained led to winning new product concepts. One big success is Outlastâ„ ¢ by Cover- Girl. This ten-hour lipstick—a kiss-proof, long-lasting lipstick—uses a unique two-part application system (first a color and then a gloss) to produce an enduring lip color and gloss. A second winner—Lipfinityâ„ ¢ by Max Factor—was also introduced, again using the SIMPLâ„ ¢ model. Both new products have been huge successes not only in the U. S. , but around the world. The turnaround of the cosmetics business was underway! Most companies claim to have a new product process or stage-and-gate system in place, according to a recent PDMA study. 7 Further investigation reveals, however, that most firms’ processes are deficient. They are poorly designed, they miss the mark when it comes to best practices, and they are badly implemented. 2,3 P&G is an exception. Their idea-to-launch process, SIMPLâ„ ¢, is a rigorous process that uses stage-and-gate decision-making complete with clear go/kill criteria and timing requirements. The SIMPLâ„ ¢ model, shown in Exhibit 3, consists of four main stages, with each stage building in a set of current best practices in the form of key activities, and also clearly defined expectations for project team in the form of end-points. There are also four gates or go/kill decision-points in the model; each gate is comprised of a team recommendation and a management decision. The SIMPLâ„ ¢ Model P&G’s approach is different from that of most firms’, however. Instead of focusing on the process per se (like so many companies do), management stepped back and identified the basic principles that the model is founded on. These principles are constants across many and varied businesses and geographies. But the constancy of these principles has helped the company adapt the model to many different types of businesses and different types of projects leading to a standardized and globally applied Stage-Gate ® process. The principles which underlie the SIMPLâ„ ¢ model are shown in the box on this page and explained here in more detail: Winning in the marketplace is the goal. In many firms, too much emphasis is on getting through the process; that is, getting one’s project approved or preparing deliverables for the next gate. In the past, P&G was no different. By contrast, this principle emphasizes winning in the marketplace as the goal, not merely going through the process. Specific success criteria for each project are defined and agreed to by the project team and management at the gates; these success criteria are then used to evaluate the project at the post-launch review. And the project team is held accountable for achieving results when measured against these success criteria. (By contrast, the great majority of businesses still do not conduct post-launch reviews on projects; and even fewer hold their project teams accountable for achieving agreed-to project results). Use criteria for making Go/Kill decisions. Specific success criteria for each gate relevant to that stage are defined for each project. Examples include: expected profitability, launch date, expected sales, and even interim metrics, such as test results expected in a subsequent stage. These criteria, and targets to be achieved in them, are agreed to by the project team and management at each gate. These success criteria are then used to evaluate the project at successive gates. Risk and rigor must be balanced. Project teams employ appropriate e rigor in learning, planning, and decision- making in order to mitigate risk. They build in a strong consumer focus and rely heavily on voice of customer research; they front end-load their projects, undertaking appropriate, often extensive up-front homework prior to development; and they focus on developing differentiated, superior products that meet customer needs better than competitors. Note that SIMPLâ„ ¢ is also scalable and is tailored for specific projects based on level of risk and size of investment. Not every project requires the same degree of rigor, front-end work, and market research. Use a common language. Throughout the 1990s, each P&G business unit had developed its own version of a stage-and-gate new product process. Integration, cooperation, and measurement across businesses thus proved difficult with each business using a different system and different terminology. A GLOBAL PROCESS The current SIMPLâ„ ¢ process is a corporate global process—the same stages, gates, principles and measures—and is universal across geographies and business units. Each business, however, is free to adjust and adapt the process to suit its own business requirements. SIMPLâ„ ¢ is not stand alone. The idea to- launch process is only one ingredient of successful innovation, a single element of a much larger whole, the Diamond. Individual projects cannot be managed independently of other projects, their priorities, resource constraints, and changing business conditions. Thus the Diamond represents the relationship between these elements: innovation strategy,resource planning, project selection, and the SIMPLâ„ ¢ new product process SIMPLâ„ ¢ Driver #3—Resource commitment, focusing on the right projects and portfolio management In P&G’s Cosmetics business, portfolio management, a third element of the Initiatives Diamond, was next employed to enable management to look at its entire portfolio of new product initiatives, and secure the right balance and mix. Through portfolio management, the business built a pipeline of new and improved products that established the needed initiative rhythm for each product line (face, lips, eyes). New products and upgrades in each product line created news and excitement in the market. This â€Å"launch and sustain† portfolio approach was a key part of winning in the marketplace. Best performers like P&G have an efficient portfolio management system that helps the business leadership team effectively allocate resources to the right areas and projects. P&G splits this resource commitment facet of the diamond into two parts: project selection and resource planning. The company relies primarily on success criteria as part of the SIMPLâ„ ¢ process to help make better go/kill decisions on projects, as noted above. In addition, a number of P&G businesses have developed screening tools using scorecard methods for early decisions and for the selection of ideas to enter the SIMPLâ„ ¢ process. When it comes to resource planning for projects in the portfolio, P&G’s methods vary depending on the nature of the business. Many P&G businesses utilize a resource profiling approach to resource planning. The resource profiling method helps to assess future project resource needs based on learning from past projects, and it anticipates peak resource periods of time. This approach enables businesses, such as Fabric Care, to improve the overall portfolio decision process by allocating scarce resources to the highest priority projects globally. The most technically complex, resource-intensive businesses use purchased resource management software. These software tools look at people available versus requirements for specific tasks on individual projects to focus on near-term resource constraints. P&G’s deliberate approach to portfolio management and resource planning (the resource facet of the diamond) has had a strong positive impact, according to Martin Riant, President of P&G Global Baby and Adult Care and formerly President of P&G’s Global Feminine Care and Antiperspirants/ Deodorants business. Using the diamond has had a remarkable effect on our business results. It has forced a much higher level of discipline in how we allocate our resources, how and when we make investment decisions and in accountability of projects to deliver what they promise,† he says. Driver #4—A positive climate and environment for innovation People, culture, and leadership make up the fourth driver of performance of th e diamond (Exhibit 1). First, senior management must lead the innovation effort and be strongly committed to New Product Development. This senior commitment is most evident at P&G where Chairman, President, and Chief Executive A. G.. Lafley, makes it clear, â€Å"Innovation is a prerequisite for sustained growth. No other path to profitable growth can be sustained over time. Without continual innovation, markets stagnate, products become commodities, and margins shrink,† he explains. A positive climate and culture for innovation and entrepreneurship, combined with effective cross-functional teams backed by strong management support and empowerment are fundamental to success. P&G has focused much effort here in recent years, which has helped it generate a step level improvement in results. The entire innovation effort, together with the Initiatives Diamond and SIMPLâ„ ¢ process, is sponsored and owned by both the commercial (sales and marketing) and technical (R&D and engineering) communities. An important step was the creation of Initiative Success Managers who report to each of the company’s busin ess unit presidents. These Initiative Success Managers make the diamond and SIMPLâ„ ¢ work. QUESTIONNAIRE: A small survey was carried out to find out the behaviour of cosmetic users. The survey was primarily designed to check on behavioural aspects of the users towards new innovative cosmetic products. The questionnaire is given below, followed by findings : NAME: GENDER: AGE: OCCUPATION: 1. Do you use cosmetics? †¢ Yes †¢ No 2. How much is your income per month? †¢ Dependent †¢ 35,000 3. How much do you spend on cosmetics per month? _______________ ( Do you agree with the following statements? Q4 –Q8 1-strongly agree 2-agree 3-neutral 4-disagree 5-strongly disagree ) 4. I try new products 5. I switch brands if some other brand comes up with a better product 6. I often find gaps in my current product 7. I wait till I finish my current product till I buy another similar purpose product 8. I would rather reuse a good produce than try a new similar purpose product 9. Why do you switch products (tick all that are applicable) †¢ Price †¢ Packaging †¢ Availability †¢ Fragrance †¢ Utility †¢ Reviews 10. What kind of products do you use? †¢ Herbal †¢ Ayurvedic †¢ Scientific †¢ Any 11. On an average how long do you use a product before changing it? 8 weeks 12. How many times a year do you try a new product? †¢ 10 13. How many times do you reuse a product before trying a new product? †¢ 0-1 †¢ 2-3 †¢ 4-6 †¢ >6 14. Does the range of products available in the market match your requirements? †¢ Yes †¢ No 15. When a new product with a new feature is launched , how soon do you try it? †¢ Within 1st month †¢ 2-3 months †¢ 4-7 months †¢ 8-12 months †¢ >1 year 16. Compared to your current expenditure on cosmetics how much extra are you willing to spend on a new product with better feature/results? No extra money †¢ 1-10% †¢ 11-25% †¢ 26-50% †¢ >50% 17. On a scale of 1-5 , how important is the following feature in a cosmetic product, for you to buy it? Rank the options from 1-5 where : 1-Most important & 5- least important †¢ Packaging †¢ Fragrance †¢ Reviews †¢ New feature †¢ Brand ambassador FINDINGS OF THE QUESTIONNAIRE: †¢ The questionnaire was answered by 25 females and 10 males. †¢ There were 20 from the age group of 30-35 years, 5 from age group 20-25 years and 10 from age group 25-30 years. About 70% of the respondents spend around 3% of their income on cosmetics per month. †¢ 67% of the respondents try new products. [pic] †¢ 63% of the respondents switch brands if s ome other brand comes up with a better product. †¢ 80% of the respondents often find gaps in their current product inspite of the huge range of cosmetics available. [pic] †¢ 34% of the respondents wait till they finish their current product till they buy another similar purpose product. †¢ 27% of the respondents would rather reuse a good product than try a new similar purpose product. 87% of the respondents switch products due to better utility, 64% on the basis of reviews, 39% depending on availability, 30% depending on price, 12% depending on fragrance and 6% depending on fragrance. [pic] †¢ 58% of the respondents use a product for 6-8 weeks before changing it. †¢ 42% of the respondents try a new product 3-6 times a year. †¢ 60% of the respondents reuse the same product only 2-3 times a year before trying a similar new product. †¢ Despite the wide variety of products available in the market, 66% of the respondents feel that the products in the ma rket do not match their requirements. Maximum percentage of the respondents buys a new product with 2-6 months of its launch. †¢ 6% of the respondents are willing to pay no extra money for a new product with better features, 15% of the respondents are willing to pay 1-10% extra money for a new product with better features, 33% of the respondents are willing to pay 11-25% extra money for a new product with better features, 25% of the respondents are willing to pay 26-50% extra money for a new product with better features & 21% of the respondents are willing to pay more than 50% extra money for a new product with better features. pic] †¢ For 56% of the respondents a new feature in a cosmetic product motivates them into buying. All the above responses indicate towards the fact that customers are tempted to buy new, innovative, better products. REFERENCES : R. G. Cooper, S. J. Edgett & E. J. Kleinschmidt, New Product Development Best Practices Study: What Distinguishes the Top Performers, Houston: APQC (American Pr oductivity & Quality Center), 2002; Robert G. Cooper, Michael S. Mills, Succeeding at New Products the P&G Way: Work the Innovation Diamondâ„ ¢,working paper no. 1, 2005 R. G. Cooper, S. J. Edgett & E. J. Kleinschmidt, Best Practices in Product Innovation: What Distinguishes Top Performers, Product Development Institute, 2003. R. G. Cooper, Product Leadership: Pathways to Profitable Innovation, 2nd edition. Reading, MA: Perseus Books, 2005. R. G. Cooper & E. J. Kleinschmidt, â€Å"Benchmarking firms’ new product performance and practices†, Engineering Management, 1995. John Hauser, Gerard J. Tellis, Abbie Griffin, Research on Innovation: A Review and Agenda for Marketing Science, 2006 M. Mills, â€Å"Implementing a Stage-GateTM process at Procter & Gamble†, Association for Manufacturing Excellence International Conference, â€Å"Competing on the Global Stage†, Cincinnati, Ohio, October 2004. R. G. Cooper, Winning at New Products: Accelerating the Process from Idea to Launch, 3rd edition. Reading, Mass: Perseus Books, 2001. R. G. Cooper and S. J. Edgett, Product Innovation and Technology Strategy (Hamilton, ON: Product Development Institute, 2009). PDMA’s quarterly magazine for Product Development professionals, How P&G achieves such stellar NPD results, Insights into Innovationâ„ ¢, October 2005 Vol. XXIX No. 4,

Juvenile Justice Essay Example | Topics and Well Written Essays - 500 words - 2

Juvenile Justice - Essay Example One other approach is the use of DNA mapping and evidence tracking. The use of electronic monitoring devices that work through cellular or gps locating software have been making their way into the system and can be used to track movement in real time as well as even tracking substance use through sleep patterns. According to Streetime technologies, â€Å"The SleepTimeâ„ ¢ monitor records moment-to-moment sleep patterns through the night, and detects deviations related to episodes of intoxication that occurred during the previous day.† (STREETIME) Another brainchild program currently in use in various locations across the United States that is a STREETIME product is the PassPoint retinal drug monitoring system, this system allows the user and the administrator to check if the client or juvenile offender in question needs to have a urinalysis administered. Technologies like these assist in advancing the goal of reducing man hours spent both patrolling those juveniles on proba tion and the high expense associated with bi-weekly substance checks using a urinalysis alone. Another approach to technocorrections is the use of pharmacological approaches in the treatment of juveniles currently in correctional or noncorrectional probationary settings.

Advantages and Disadvantages of Design Build Project Delivery Method Research Paper

Advantages and Disadvantages of Design Build Project Delivery Method - Research Paper Example It can be observed that convectional methods of project delivery have given way to more creative methods, and this has been done so to save time, save money, and to provide a more coordinated team approach with objective of reducing litigation. Each project delivery method has benefits as well as its own limitations. Design-built project delivery method constitutes one of the modern popular project construction methods (Darren, Pramen, Fasce & Masce 579). The premise of this method is that the owner hires one entity, which is a design-builder, and this design entity becomes the sole provider of both design and construction services (American Institute of Architects 504-505). Subsequently, the financing of the project remains the responsibility of the owner. More so, this method requires a clearly defined scope of work which in some cases may constitute existing prototype design, while also ensuring cost commitment is made early in the design process. Advantages In a study carried out by Roth (1995) involving six design build (DB) projects for Navy childcare facilities constructed through MILCON process, the author established that use of DB significantly reduced costs specifically those associated with design and construction (Darren, Pramen, Fasce & Masce p.580). ... The overall conclusion of the author was that, having critical skills of project management on the part of project managers coupled with experience of contractor led to greater results on the performance of the project than compared to project delivery method. At the same time, studies have been carried out to establish the relative time DB projects take as compared to DBB, and conclusion derived is that time can be saved by using DB project delivery method (Darren, Pramen, Fasce & Masce p.580). Evaluation of studies indicate that numerous methods were used and multivariate models were used with examination of unit cost, construction speed, delivery speed, cost growth and schedule growth, and in all these aspects DB performed better that DBB . Carrying out similar studies Molenaar et al. (1999) used DB project delivery method and analyzed 104 public-sector design/build projects (Darren, Pramen, Fasce & Masce p.580). At the end of the study, the authors ascertained that DB projects pe rformed better in terms of cost, time and quality, although the study did not compare these findings to any other project delivery method. Warne (2005) on the other hand took great effort to research, and published a report concerning performance assessment of DB contracting for highway projects. Carrying out study on 21 projects across the country, the author established that DB projects had better price certainty and also majority of DB projects were completed a head of schedule (Darren, Pramen, Fasce & Masce p.580). Federal Highway Administration (FHwA) in 2006 carried out a comparison project performance of DB highway projects against those of DBB highway projects and results indicated that DB projects possessed higher cost growth but lower schedule growth when

Characteristics of Start-Ups - Entrepreneurship in Germany Term Paper

Characteristics of Start-Ups - Entrepreneurship in Germany - Term Paper Example Diversity in teams is considered to be a positive force leading to the effective functioning of the team (Knight et al. 1999). The Top Management Team (TMT) comprises of individuals with power and authority to make strategic decisions (Camelo-Ordaz, Herna ´ndez-Lara, & Valle-Cabrera) and thus, diversity in TMT can impact the organizational outcome. Top Management Team (TMT) has been defined as the â€Å"the relatively small group of most influential executives at the apex of an organization†¦the top three to ten executives† (Finkelstein & Hambrick, 1996: 8, cited by Tacheva, 2007). An entrepreneurial team consists of two or more members who jointly invest in a business in which they have an equal financial interest (Cooney, 2009). They have shared commitment, shared accountability and shared independent tasks and outcomes for these tasks. In this report, the TMT team includes a team of four experienced entrepreneurial CEOs at Omnis Mundi AG, who have pooled in their talent and expertise to foster the creation of new businesses in Europe. This report would hence evaluate the TMT characteristics in startups. Diversity in TMT is desirable in different fields but this report would focus on functional or task-related diversity, background affiliation, tenure/turnover and demographic heterogeneity. Diversity and heterogeneity are synonymous and hence interchangeably used throughout the report. Diversity can be observable (demographic) or non-observable (cognitive) diversity attributes (Tacheva, 2007). The observable characteristics include age, tenure, functional and educational background, and these account for managerial psychological behaviour. These are also known as relations-oriented attributes. Knowledge, skills and expertise or functional background are observable task-related attributes. Non-observable attributes are difficult to assess and hence the TMT is selected based on their observable attributes. According to the upper echelon theory, the TMT behaviour influences firm performance.  

Analysis of Zircon Cars Company Essay Example | Topics and Well Written Essays - 3000 words

Analysis of Zircon Cars Company - Essay Example The essay "Analysis of Zircon Cars Company" analyzes if it is profitable to acquire the Korean Composites Company as Zircon Cars is contemplating on reducing its production costs. The diversification finance concept dictates it is advantageous to invest in several market segments, including investing in the new Korean fibre body shell market segment. On market’s profitability will reduce the risk of losses in another market. The above table 6 shows the combined financial report for two segments. The combined report is based on the 2016 accounting period. The United Kingdom is one of the chosen Zircon Cars market segments. The United Kingdom Zircon Cars market segment sales is  £113,100,000 and the Korean Composites global fibre body shell market segment generated 48,140,000,000 Korean Won Currency amount. The conversion or translation of the Korean currency to the United Kingdom currency, British Pound. The sales amount of the Korean Composites Company for 2016 is  £28,407,548.59. Combining the 2016 accounting period sales of both the Zircon Cars’ United Kingdom market segment and the Korean company’s sales, the total sales figure is  £141,507,548.59. Also the United Kingdom Zircon Cars market segment income before tax deduction is  £ 22,857,510 and the Korean Composites global fibre body shell market segment produced 9,621,706,787.40 Korean Won Currency amount income before tax deduction amount. There is the same conversion of the Korean currency to the United Kingdom currency, British Pound.

Discuss transcultural nursing in relation to case management in the Research Paper

Discuss transcultural nursing in relation to case management in the substance abuse hispanic client - Research Paper Example All the hospital practitioners and nurses ought to recognize that diversity does exist among patients including members of the healthcare team (Powell & Tahan, 2010). This paper discusses the trans-cultural nursing that relates to treatment of substance abuse among the Hispanic population. The discussion will address the substance use problem and its consequences among the Hispanic population Hispanic Population Hispanics involves the largest minority group in the United States with a percentage of 14.2. They comprise young people with 40 percent under the age of 21 years. In addition, they have a proportionately low-income level with 23 percent living under the poverty line. They also have a low level of educational attainments with many of them not finishing high school. The Hispanic growth rate constitutes 3.6 percent per year. Therefore, the Hispanic population is young, rapidly growing ethnic and cultural group in the United States. The growing population is due to the relative youth and the high birth rates including the immigration (Easterby et al., 2012). The phenomenon of drinking might be because of strict cultural sanctions against drinking by women, which is typical in the entire Latin America. Much research shows that there is the preservation of cultural norms of the countries of their origins, and hence, they resist the pressure to engage in the substance use. The patterns of substance abuse amongst the Hispanics might have the influence of acculturation and the countries of origin. In fact, one of the studies based on the Hispanic Health and Nutrition Examination Survey demonstrates that substance abuse amongst the Hispanics increased with acculturation. On the other hand, the Substance Abuse and Mental Health Services Administration gives information on the treatment completion, treatment stay and the discharge demographics. Furthermore, the primary substance of abuse varies according to the Hispanic origin, with the Puerto Rican and the Cuban- American women reported being opiate users while the Mexican-American women were more methamphetamine users (O. Doody & C. Doody, 2012). Case Management Case management approaches might be quite useful in having control of substance abuse, for instance, in older women of the Hispanic population. One can observe the alcohol dependency in older women when they are present at an acute care medical setting with such complaints as memory loss and chronic pain among other signs exacerbated by alcohol. The signs should not be for normal consequences of aging. When such occurs, it calls for intervention and discussion of abstinence including the treatment options. The nurse should facilitate treatment, which is respectful, supportive and non-confrontational. The providers should gather the personal information of the client from family members, clergy, and neighbors. The nurse should be direct and honest and should manage to explain that assistance is quite available, and the family member should assist her in communicating when he or she is from a different culture. In managing the case, well-coordinated approaches that deal with the abuse treatment for Hispanic older women should include an interdisciplinary treatment team with the family involved in a plan of individualized support services. The providers sh

Reading Discussion Essay Example | Topics and Well Written Essays - 250 words

Reading Discussion - Essay Example It was also interesting to note that, even with these blurred lines between â€Å"pop† and culture, the media has played a critical role in influencing how both adults and children act. This could lead to lower self-esteem because people feel that they have to take specific actions in order to fit into the popular culture. I was also attracted to the fact that the United States has an overwhelming influence on the actions of other societies, specifically due to the fact that American composition classrooms have championed the incorporation of popular culture into academic study (Maasik & Solomon 7). It is almost as if had media technology not been invented, then the world would have had to focus on other issues that have more importance to their heritage and their lives. This is confusing because it could be assumed that the media would adapt to societal norms and reflect reality. Instead, it has adapted to popular culture and has influenced society to adapt to norms present in popular

Future business needs of reverse logistics Research Paper

Future business needs of reverse logistics - Research Paper Example It is becoming a concern in the modern day supply chain that retailers should try to incorporate reverse logistics into supply transactions and should not treat them as individual or minor cases. The management in lace should also strive to link up the various transactions in the supply chain to be in line with reverse logistics. The statistical control process can be of great help in the shaping the future of reverse logistics. This type of approach emphasizes on the end quality of a particular product. This process emphasizes on efficiency and ensures that the desired end goal is met with minimized waste and increased efficiency. This approach takes two stages: the first stage is the commencing of the process while the second stage is the frequent application of this process. The statistical control process commonly makes use of machine, man, material, and method in the manufacturing process (Dekker et al., 2004).. Since this method of production emphasizes on the quality of production, it puts a keen interest in the initial stages of this production method. This emphasis is to ensure that there is efficiency in the production process rather than correction of mistakes made at a later stage. This process can therefore mint reverse logistics into the initial programme of the supply chain to make the process more efficient and effective. The core tenets that the statistical control method applies are control charts, the stable process, and the excessive variation procedures to obtain the desired results. According to Dyckhoff et al. (2004), the leadership put in place should be in a position to ensure that the process is not only efficient but also put across counter attack procedures. The main aim of leadership in position is to ensure that the return of merchandise is swift, less costly and convenient to both the manufacturers and the customers. The leadership should ensure that there is avoidance of the return of already

Economic events occur around us every day Assignment

Economic events occur around us every day - Assignment Example it can be ascertained that slow GDP growth rate of a country and sluggish investment decisions have accorded significant attention of many economists. Despite the availability of adequate monetary resources, many industries are unwilling to make significant investments due to the fear of recovery constantly imposed by prevailing economic uncertainties. The paper would be mainly divided into two parts, the first part would include headings consisting of â€Å"economic problems faced† which would mainly describe what are the problems, causes of the problem and what are their impacts on the society, politics and how could these issues be resolved. The second part would mainly be focused on â€Å"government policies† along with evaluating the current demand and supply side and the ways in which they can be brought into effectiveness. Correspondingly, this paper in the light of the selected article â€Å"Uncertainty Is the Enemy of Recovery† intends to identify the various economic problems encountered by the different countries particularly the US economy and further determines to ascertain the consequences of economic downturn and responses from government to resolve these problems effectively. According to the article, â€Å"Uncertainty Is the Enemy of Recovery† by Mcnabb, it is apparent that the problems of economic uncertainties have given rise to recovery related economic challenges to most of the countries encountered with economic downturn. The fluctuating GDP and the uncertainties in the various policies initiated by the government have largely affected the general public and big business organizations as well. Accordingly, many organizations in spite of ample financial resources are largely hesitating in increasing their level of services or creating new job opportunities. The spending on goods by the general public has also reduced significantly owing to the decrease in their disposable income (Leone, 2010). Lately, the ambiguity in the monetary strategy

Gender differences Essay Example for Free

Gender differences Essay It could be said that to some extent the view that processes within schools may lead to gender differences in educational achievement is true. The theory of Interactionist looks at the individual rather than society; therefore it is a bottom up theory. Interactionist argue that the processes within the schools such as the hidden curriculum may lead students in gender differences in educational achievement, as what happens inside the school which is unwritten is what influences the individual in educational achievement, not the formal curriculum or what is written rule such as the subjects which is being studied influences the student to achieve. The sociologist Goffman explains that everyone in society is presenting the self in everyday life. What he means is that everyone is a puppet of society and not in control of what they say or do, but in fact they are attached in strings and act for example in play, such as a female may play the role of a mother at home but play the role of a student at school. Some argue that the structure and settings of schools, generally creates gender differences in educational achievement, for example the socialisation aspect is that the students are socialised into tolerable forms of behaviour pupils are given drill in how to move about the school, sit in desk, raise hands the puritan of hard work, sober living and good manners is continuously urged upon them. This socialisation naturally created gender differences as males are seen or expected to behave in classrooms in the manner of masculine while females are seen or expected to behave in feminine behaviour or otherwise it could be considered odd, and therefore the students who do behave odd are looked at differently or called deviant. The sociologist Postman and Weingartner, studied that the hidden curriculum consisted of discovering that; knowledge is beyond the power of students and is in case none of their business; secondly recall is the highest form of intellectual achievement and therefore the collection of facts is the goal of education; the voice of authority is to be trusted more than independent judgement; feelings are irrelevant in education; passive acceptance is a more desirable response to ideas than active criticism. This study proves that the individual does not play in an important role but rather how to survive the school and just pass the exams was important and therefore not keen on which gender is learning or how but on how they should just pass the time in school and move on as education is not about the self but on facts and memorising, and not understanding. As a result it could be said that the study of classroom interaction is the idea that the reality of the classroom is a negotiated reality. For students and teachers, the hidden curriculum consists of learning how to survive in the classroom.

How Far Kim Is An Indian English Literature Essay

How Far Kim Is An Indian English Literature Essay Kim is a fine artistic creation written by Rudyard Kipling. It has a strong impact on the readers mind that gives a strong sense of spirit for adventurous journey, whereby the two main characters are on the way for searching their respective goals. Kim wants to find his fortune where as Tahsoo Lama wants to discover a certain river of arrow. All the characters in the novel, are part of Great Game. For Mahbub Ali, Hari Babu, Creighton Sahib it means a spy game, a political one i.e. a part of British imperial system. For Tashoo Lama it is a wheel of life, wheel of things in its spiritual and philosophical meanings. For Kim it is a fulfillment of his personal curious desire and nature. Throughout the novel Kim faces a problem of his identity. The problem arises due to his identification with different identities, cultures and ideologies. We are informed that he is a white born orphan who wears some charmings in his neck which are his only heritage to prove him British. His indigenious characteristics place him with Indians. He is brought up in Lahore by a poor half-caste Hindu woman. Our point of study here is to see to what extent he is an Indian? Kipling is determined him to be a white, a British. In the very first page of the novel he says : Though he was burned black as any native; though he spoke the vernacular by preference and his mother tongue in a clipped uncertain sing-song, though he consorted on terms of perfect equality with the small boys of the bazaar; Kim was white a poor white of the very poorest.[Chap.-1] Thus in this way he has denounced absolutely all the cultural and social elements which make a man and give him identity. To prove him British, is to isolate him. The birth and the parents do not create the identity only. It is designed by society and culture, and his interactions in it. Most necessarily Kipling introduces Kim with Indianness, Indian objects, Indian ideas, and thinking. He is grown up in the society of Lahore city. He lives the wild life of Arabian Nights and he is able to see the beauty of it. He discards English style of remaining alienated from commonness. It is his nativity which separates him from his ancestors. Kims society includes Abdullah, Mahbub Ali, the Muslims; Chote Lal, the Hindu; the fakirs; the small boy of bazaar; the native policeman; water carrier; Jawahir Singh the carpenter. He is not different from all these members of Lahore city society. He is looked after by a half-caste Hindu woman who wished that he should wear the European garments but Kim found it easier to slip into Hindu or Mohammedan garb[Chap.-1] In company of his native friends he is at ease. He knows their language and all castes. It is his society in which he grows up learning the very native knowledge of it. Often natives are defined with their characteristics like simplicity, down to earth, knowledge which comes out of every day practical life, curiosity, excitement, innocence. Kim has all these qualities. He is very curious to know about the new things. He behaves in native manner and the wisdom he shows is more Indian. He quotes the proverbs which maintains deep understanding, knowledge and life long experience. If we consider Kim a monolithic character he is less Indian than British. But he is not a universal white man because he hates missionaries, he prefers vernacular and he is always able to attain sympathy from others. He hates going school where the classrooms are gloomy for him. He lives his life among street boys begging for food, which he can surely attain accepting the white society. He wants to live a free life as do the Indians, so he remains away from missionaries or any white person who can take possession over him, in order not to indulge in unadventurous life of routine and seriousness. He is born white Christian and he is well conscious of it but it bothers him to enter again in white society. He entertains his life with Indians without any limitation. He is happy in living with them and treats them equal to him though his nature is to take over anybody is only due to his highly experienced and open-minded out spoken personality. Contrary to it,the Britishers know nothing of India. He has adventures there and every secret activity attracts him. So he is shown always interested in moving in streets in dark, climbing high on the roof of houses to explore somewhat of his interest. The darkness and his colour black both are associated with the Indians by the Britishers in context of India.He knows Indian sensibility because he has lived with them.His alliance with Mahbub Ali started only with his need of food and his curious nature leads him to new experiences. He has nothing to do with Britishers and with their game. He is appears as a secular personality. He says to Mahbub Ali that he is neither Muslim nor he is Hindu even he does not say that he is chrisitan. He may criticize a Lama or a Hindu but he never claims his views about religion. When he is introduced to Catholicism he sees it a new set of Gods and Godlings [Chap.-7].Even the idea of being a Sahib or a White vexes him.He says to Lama-Thou hast said there is neither black nor white.Why plague me with this talk?'[Chap.-15]. He is alien to a British and has framed himself in Indian style. Indianness has ripen in him and if we want too see Britishness in him we can see only reflections of it. He gives the characters but more the readers to feel at home in their native environment. His wisdom is common with the priests in village who take possession of the minds of all villagers. He is confined to India. If he would have another identity or from another place this could not have happened. There would be some connections from outside. He is responding to both Indians as well as English in a way which may suit them but he takes no responsibility of it. Typically he belongs to the class of people in India who had firm faith in appropriateness of British rule over India, whose ideas are inspired by west but actions limited to their own cultural environment The relationship between Lama and Kim is also a typical Indian relation between Guru and Shishya.He is a chela, not a disciple of Lama. Kim insists on his being chela. He says to Lama I am your chela. Am I not?Am I not your chela? Kiplings use of words contextualize him in certain periphery. The symbolicism also suggests the Indianness in Kim. How can a man follow the way or the great game when he is so always pestered by women?, he says. The way or the great game symbolize the sacred path to reach the ultimate truth. The words cannot be taken only for spy game. Kipling says that Kim thought in the vernacular on this occasion.And this is possible only by his relation with Lama and his Indian roots, which made him able to think spiritually. He loves the country. Mahbub asks him And who are thy people friend of all the world? Kim replies This great and beautiful land. The orality of characters and speeches connects the story, the character and even the author to the land upon which it does perform itself. The proverbs must come out from that specific place to which the user belong and its user must have also the wide sense and understanding for using it. It is not a days work and he who knows it and uses is more of that place than other. Kim uses the proverbs and language splendidly. The significant thing is that the proverbs, have their particular tone and sense that they are not found in another languages. They are more Indian than any other things in the novel can be. The colloquial speeches also gives it an Indian colour. Orality and meaning of dialogue both are performative and context bound, and moves away from European styles and influences. These are situated outside the European or English perfiery. It has its own Indian social space. Language which is given to Kim by Kipling is Indian in meaning and context. The language of English priests, Lurgan Sahib and Creighton sahib is different from that of Kim. Kims language is hybridization of English, Hindi and Urdu. There we can clearly see the dominance of pure English over the English mixed with vernacular hence two different levels are created and Kim is attributed lower one i.e. more identified with Indians, specially at that time. The language teaches about ones status and identity. English priests sends him for learning English means that so far he is not an English. He has learned and accepted Indian culture and values. His acception of guru-chela relationship with Lama and his treatment of a sick boy at Banaras are the best example of it. He thinks in Hindi (Hindustani), in the tongue he knows best as the writer says[Chap.6]. It means that primarily he is Hindustani than it does not matter what other language he speaks.His use of Urdu and Hindi language maintains Indianness in him. He is a local legend. If Kim can use aurhoritative language then it does not mean that he is Britisher because it can be practiced by any other Indian also. Being a part of Great Game also does not identify him with Creighton or Lurgam Sahib. If it is the case then what you will say about Hari Babu who is a part of Great Game and speaks English Kim has split consciousness of being both an Indian and a British. His frequent desire for companionship of Lama and the road, his disinterestedness in being a Sahib, and going to school are the strong example of his re-assertion of native cultural identity. His identity can be constructed only in according to his socio-political economic binaries under in which he lived. Kims blackness is first point which separates him from Britishers. Socially he is a part of Indian world. Kim in his early childhood is given to a full grown manliness. Perhaps it will not be wrong to say that he seems to be character of authors imagination, not from the real world. But, what the reality is, that he is offspring of Indian soil. He is moulded in Indian form. He is formed by Indian society and culture not by English. He inherited his body from white parents but it is laid upon circumstances what will happen to his body in future. He enjoys his position well in his society but he is also a person who looks for future. His father had prophesized for his future and he sets himself to go for the search of his future. He is a native hero who is on his mission for making a better life. So he, joins the Madrissah though it is not of his test. There he will be a Sahib but to be a Sahib is not his dream. He thinks that after his schooling he will be more able to play his adventures. Being left by Hari at Rani Sahibas house he feels that he is out of game, the game of adventure. He cant bear it and leaves the house. He knows his birth and in playing games he uses this white racial birth in a political use. It is only a impression on native Indians but he presents himself in his native garbs so to not differentiate with them. His continuous search to find an answer of who is Kim? at last results in humanistic approach that he is only a Kim not a Sahib or a English imperialist one. He is self-centered Indian in his pursuit of joy and adventurous life. Creighton, Burton and Bennett are the part of White world. They cannot part themselves from it. Only after confirmation of Kims white origin they are ready to adopt him. The evidences of this white origin are only his fathers clearance certificate and a note.If Kim had not these proofs he had to remain only an ordinary Indian. Then his colour black, vernacular tongue, his habits, his outward presentation would construct his identity. Thus, language and culture supersedes over race and ethnicity. From Lama he learns myths of Buddha and makes it own objective to search for river. -Oah it was made by our lord Buddha à ¢Ã¢â€š ¬Ã‚ ¦. I am his disciple and we must find that riverà ¢Ã¢â€š ¬Ã‚ ¦ it is so veree valuable to us.[Chap-5] His joys are the broad land and fields he felt,were a cog-wheel unconnected with any machinery.But I shall argue that he is not an absolute Indian.He knows his British origin but frequently he neglects to be a British.He is conscious of his high birth and goes with Lama only for his own search for red bull. He shows his European egoism, tries to take over everybody. To his native friends, also to Britishers he is a White and superior to all other Indians. Kim hates them Bennett thinks that once a Sahib is always a Sahib; but he avoids Sahibs and Madrissah. To him, for a moment, he may be Sahib but no longer he wants to remain a Sahib. He has crossed all the whites who want war, rule etc. and thinks them fools and wants to see new things. Lama says But no white man knows the land and the customs of the land as thou knowest. Writer seems to make him an Indian without loosing any Whiteness / Britishness in him. There is a White boy by the barracks waiting under a tree who is not a White boyà ¢Ã¢â€š ¬Ã‚ ¦. He is not like other boys'[Chap-6]. It is the Madrissah where his one identity replaces another. By teaching and learning identities are created. It is Madrissah where a second type of learning starts. Kim says In Madrissah I will learn. In Madrissah I will be a Sahib. In Madrissah for the rest of the day Kim found himself an object of distinguished consideration among a few hundred white men.[Chap-6] Madrissaha becomes the distinguishing point. Mahbub and Creighton Sahib fears that being long in madrissah he can loose his original personality. It is madrissah where the process of making him a Sahib starts. After his discovery of red bull and confrontation with officers he still, is not ready to accept himself a Sahib. He writes to Mahbub Ali By means of charm about my neck. It was established that I was the son of some Sahib in regiment.[Chap-6] A priest gave me a new name and clothed meà ¢Ã¢â€š ¬Ã‚ ¦ Later he says to himself à ¢Ã¢â€š ¬Ã‚ ¦ and I am a Sahib. No I am Kim. This is great world and I am only Kim. Who is Kim?[Chap-6] Here Kim seems to establish his identity beyond the Sahib/White world. He knows the world is great. He asserts himself Kim of any place. He is the man of all the world who does not create distances and differences. After all he can not be said as a whole (full) à ¢Ã¢â€š ¬Ã‚ ¦.Indian nor he can be a English because his parents were Irish and author gives stress upon his Irishness when he says his mother has been Irish too. He is a great synthesis of the East and the West. British and India.He comes out from madrissah in form of British agent. He can no longer remain an Indian. He becomes a hybrid of heterogenigenious elements, Indian and English, high and low. The hybridity and heterogentiy glitters but further it can produce nothing. Kim also leaves us in state of puzzlement. He does not give any idea to whither he moves. He himself can not solve himself that who is Kim? He leaves Rani Sahibas house in meditation. The words struck to his ear I am Kim. I am Kim. But what is Kim? He cant find answer. Kipling also tries for a solution but he fails with his words Roads were meant to be walked upon, houses to be lived in, cattles to be driven fields to be tilled and men and women to be talked.[Chap-15]

Office for Budget Responsibility

Office for Budget Responsibility Office for Budget Responsibility The Office for Budget Responsibility (OBR) is an executive non-departmental public body of HM Treasury.[i] It was established in 2010 to provide independent and authoritative analysis on the sustainability of the UK’s public finance.[ii] The Office was placed on a statutory footing through the Budget Responsibility and National Audit Act 2011. This statutory right grants OBR full access to all Government information relevant to its analysis together with the Treasury’s macroeconomic, forecasting and analytical models.[iii] George Osborne’s intention was to restore public faith in official economic and fiscal forecasting when a run of persistently overoptimistic projections for public borrowing under previous governments has undermined the Treasury’s credibility.[iv] Contents: Structure Main Responsibilities Relationship with UK Government Criticism and Controversies Future of OBR Further Reading References Structure The Office consists of a Budget Responsibility Committee (BRC), an Oversight Board, an Advisory Panel of economic and fiscal experts, and 18 permanent civil servants. The BRC is chaired by Robert Chote and include Steve Nickell CBE and Graham Parker CBE. They carry out the core functions within the office and have full discretion over the scope and nature of its judgements on the forecasts. [v] OBR’s Oversight Board saw the inclusion of two non-executive members into office. They monitor and assess the effectiveness of OBR’s operational and governance arrangements.[vi] Main Responsibilities The 4 main tasks outlined in the Parliamentary Legislation: To publish at least two five-year fiscal and economic forecasts each year which includes the likely impact of any tax and spending measures announced by the Chancellor. (Economic and Fiscal Outlook) To assess whether the Government is on course to meeting the fiscal targets that it has set itself and the possible risks that may be involved. (Economic and Fiscal Outlook) To scrutinize and comment publicly on the Treasury’s costing of tax and welfare spending measures. (Forecast Evaluation Report) To analysis and report on the health of the public sector’s balance sheet and the long term sustainability of the public finances on existing policies[vii] (Fiscal Sustainability Report) It differs from other economic forecasters and agencies, because the OBR is more focused on using variables such as nominal GDP and its component in explaining public finances[viii] and it provides ex-ante projections rather than ex-post audits of expenditure. [ix] Relationship with UK Government A Memorandum of Understanding (MoU) establishes a transparent framework for cooperation between the OBR and HM Treasury, the Department of Work and Pensions and HM Revenue and Customs.[x] It sets out the working relationship between each body based on three guiding principles of accountability and transparency, effective co-ordination and regular information exchange.[xi] This memorandum, however, does not constitute a legally binding agreement[xii]. The OBR is funded via Grant-in-Aid from HM Treasury’s supply estimate, which is subject to Parliamentary control. The OBR agreed a four year, flat cash funding allocation of  £1.75 million per year with the Treasury during the 2010 Spending Review.[xiii] Criticism and Controversies Despite the OBR’s stance of full transparency around its analysis and projections[xiv], some have questioned its credibility. When the OBR got embroiled in a complicated row about government employment forecasts, it raised doubts about just how independent it really was.[xv] The creation of the OBR was seen as a modest institutional change since control over fiscal policy remains firmly in the hands of the Chancellor.[xvi] The credibility of the OBR regarding it’s accuracy have also been under attack constantly. When the OBR admitted that its forecast on the economy’s size in 2015 was out by  £65billion[xvii], Treasury Select Committee member Jesse Norman commented on the â€Å"illusion of technocratic expertise† in the OBR and predictions often involve â€Å"a very high level of guesswork†.[xviii] Former Monetary Policy Committee member David Blanchflower have also criticized the OBR’s growth forecasts in the 2012 Budget submission, to be too â€Å"widely optimistic† and citing that the OBR have frequently needed to revise downwards from its initial forecast.[xix] The OBR’s assessment over the estimated policy impact has also, in some instances, undermined currently enacting policies such as those relating to immigration in UK.[xx] Future of OBR OBR has played an increasingly important role in assessing the Government’s performance in other areas. OBR is undertaking additional responsibilities related to the welfare gap, assessing and opining on government’s performance against the cap and whether the relevant spending is forecast to stay within the cap.[xxi] In December 2013, Current Shadow Chancellor Ed Balls announced his belief that OBR should play an important role, not just for the current government but for prospective governments.[xxii] He proposed the OBR to take up the role of assessing Labour’s tax and spend policies before the next General Election in 2015. [xxiii] The role of the OBR has increasingly been compared with similar independent fiscal institutions such as the US Congressional Budget Office (CBO).[xxiv] Colin Talbot, Chair of Public Policy and Management at University of Manchester, believes that by undertaking this additional role, it will potentially make financial debates during elections more factual based. [xxv] Andrew Tyrie, Chairman of the Treasury Select Committee, added that it will â€Å"enhance the quality of debate on tax and spend†.[xxvi] Former Number 10 Policy Unit special adviser Dan Corry, similarly, argues that getting the OBR to cost Labour’s policies ahead of the election wou ld be a step forward for UK democracy.[xxvii] But this will require a change in the governing Charter of Budget Responsibility. [xxviii] However, some people have denounced this proposal stating the fear that OBR may end up being abused and used as a political tool. Word Count: 879 (Excluding Further Readings and References) Further Readings List of other similar fiscal watchdogs: Swedish Fiscal Council Report 2013 The role of Australia’s Parliamentary Budget Office The World’s Oldest Fiscal Watchdog: Netherlands Bureau for Economic Analysis Case Studies of Fiscal Councils – Functions and Impact Other areas which has required OBR expertise 4G spectrum auction UK Swiss tax agreement Anti-avoidance measures References [i] https://www.gov.uk/government/organisations/office-for-budget-responsibility. Retrieved 22 February [ii] Official Office for Budget Responsibility Website [iii] Memorandum of Understanding between Office for Budget Responsibility, HM Treasury, Department for Work and Pensions and HM Revenue Customs, April 2011 [iv] The new forecaster in chief, The Economist, 9 September 2010. Retrieved 22 February 2014 [v] Examination of the forecasts prepared by the interim Office for Budget Responsibility for the emergency Budget 2010, 22 June 2010. Retrieved 22 February 2014 [vi] Office for Budget Responsibility’s Annual report and accounts 2011-2012, 19 June 2012 [vii] Memorandum of Understanding, April 2011 [viii] Office for Budget Responsibility’s Economic and fiscal outlook, March 2012 [ix] Independent Fiscal Institutions: Developing Good Practices by George Kopits [x] Memorandum of Understanding, April 2011 [xi] Memorandum of Understanding, April 2011 [xii] Memorandum of Understanding, April 2011 [xiii] Letter from Robert Chote to Lord Myners â€Å"Re: Costs and staff arrangements at the Office for Budget Responsibility†, October 2011 [xiv] Office for Budget Responsibility’s Annual report and accounts 2011-2012, 19 June 2012 [xv] The new forecaster in chief, The Economist, 9 September 2010. Retrieved 22 February 2014 [xvi] â€Å"The new forecaster in chief†, The Economist, 9 September 2010. Retrieved 22 February 2014 [xvii] Wintour, Patrick (6 December 2011), â€Å"OBR attacked by MPs over economic forecasts†. Guardian (UK). Retrieved 22 February [xviii] Wintour, Patrick (6 December 2011), â€Å"OBR attacked by MPs over economic forecasts†. Guardian (UK). Retrieved 22 February [xix] Blanchflower, David (22 March 2012), â€Å"David Blanchflower: The OBR’s credibility is in tatters†. The Independent (UK). Retrieved 22 February [xx] Kirkup, James (14 January 2014), â€Å"Immigration has a positive impact, says Office for Budget Responsibility head†. The Daily Telegraph, Retrieved 22 February [xxi] Letter from George Osborne to Robert Chote, 3 December 2013 [xxii] Letter from Ed Balls to Robert Chote, 22 September 2013 [xxiii] Johnstone, Richard (23 September 2013), â€Å"Labour proposes OBR scrutiny of spending plans†, Public Finance, Retrieved 22 February [xxiv] Von Trapp, Lisa (7 June 2011), The Role of Independent Fiscal Institutions, Budgeting and Public Expenditures Organization for Economic Cooperation and Development [xxv] Talbot, Colin (24 September 2013), â€Å"Balls, Budget and OBR-plus†, Public Finance, Retrieved 22 February [xxvi] Watt, Nicholas (15 October 2013), â€Å"Andrew Tyrie confirms support of Ed Balls’ plan for monitoring spending†, Guardian (UK). Retrieved 22 February [xxvii] Corry, Dan (26 September 2013), â€Å"OBR audit: don’t expect miracles†, Public Finance, Retrieved 22 February [xxviii] Letter from Robert to Ed Balls, 23rd September 2013