Plans For Introducing The Laptop Bags In UK Marketing Essay

Plans For Introducing The Laptop Bags In UK Marketing Essay Presentation Promoting is characterized as, A co-ordinated process which utilizes accessible assets to introduce an item suggestion to an objective market so as to accomplish targets, and afterward assessing how effectively this has been finished. Diminish Verwey, TMA showcasing manual Philip Kotler characterizes Marketing as the craft of recognizing and understanding client needs and making arrangements that convey fulfillment to the clients, benefits to the makers and advantages for the partners. Advertising is the presentation of those exercises which try to achieve an associations goals by envisioning client or customer needs and coordinating a progression of need-fulfilling merchandise and enterprises from maker to client or customer, says E. Jerome McCarthy of Michigan State University. http://www.audiencesni.com/library/lb-downloads/reports/Strategic%20Marketing%20Planning.pdf As the statement of purpose of Royale Company is To exceed expectations in clients world Vision: Having any kind of effect with incredible quality and incentive for the items Qualities: Quality, esteem, imaginative, administration and trustworthiness. Illustrious organization does guarantee and endeavor to get their vision of exceeding expectations clients world are estimated inside and out to the manner in which they maintain their business and the manner in which they serve their client be it home or abroad. Imperial organization strategic qualities are additionally met by guaranteeing that they meet clients desire with engaging, prevalent quality items at esteem for cash. Showcasing Environments of the UK Imperial organization has chosen to dispatch a popular and advantageous sack intended for PC known as L pack According to the advertising study it is said that individuals need their workstations and telephones to be practical and stylish and there is a genuine hybrid in item at the present market. UK advertise needs item to connect them with a brand picture. Individuals settle on decisions in what innovation they purchase dependent on the vibe great factor and what it says about picture or character over what it can really do. Which is the reason Royal organization has chosen to plan in various hues, for the refined, the downplayed and the uproarious. As tech gets littler, versatile, some portion of in vogue picture and fundamental and consequently style industry in for the most part is awakening to innovation. http://news.bbc.co.uk/1/hey/innovation/3224441.stm There was a genuine specialty in the market for a lightweight up-to-date pack that had the innovation in it to hold a PC, yet additionally the innovation in it so that on the off chance that you dropped the sack, the PC wouldnt break. As youthful age in UK are thinking that its basic and simpler to haul the PC with them around as it is getting slimmer and lighter. With wi-fi hotspots, permitting rapid net access without wires, springing up around the nation in bars and bistros remaining associated progressing is turning into a significant piece of it. PCs are turning into a design extra in UK where individuals don't convey a monstrous sack with a very much molded dress. All the plan that went into workstations sacks was centered around the voyaging agent however no idea that now daily PC is utilized by more youthful age also which would be an obvious objective for new item L pack. http://news.bbc.co.uk/1/hello there/innovation/3224441.stm Advertising Strategy: Though promoting procedure is a precise way to deal with a significant and progressively significant obligation of the executives: to position and relate the firm to its condition in a manner which guarantees its prosperity and makes it secure from shocks Ansoff and McDonnell (1990). Each association has to know the market very well so as to do prevail in the business and Royal Company is no special case to this. The primary highlights of market direction are as per the following: Client Focus: Royal Company endeavors towards conveying the best items according to the necessities and prerequisite of the clients. Contenders Orientation: In retail business Royal Company has endure and served clients for a long time. Bury Functional Coordination: It needs to have brilliant entomb utilitarian coordination to offer smooth support to clients. It implies cooperating as a group. Promoting Plan for presenting the Laptop sacks in UK showcase: So as to define the promoting plans as the UK advertise is serious, Royal Company must utilize their money related assets to make and continue a prominent with staggered showcasing effort to bring their profile up in UK and set up the possibility of value packs for PC. Should be creative in the market are as per the following: Business endurance For better returns To make the most of chance For gainfulness Upper hand Macroeconomic Analysis is isolated into inward condition and outer condition. Inward condition comprise of Firms own administration structure, the methodologies and targets, the diverse departmentation inside association. The capacity to serve the client is primarily influenced by the inward factors. The outer factors for the most part comprised of providers, merchants, client, contenders and publics and furthermore the gathering of investor. On the other instrument that will be utilized in these territories is Porters five powers. Similarly as SWOT and Porter five powers is utilized to distinguish new item, administrations and how a business can be beneficial in the market. A PEST Analysis of the business analyzes the, social, monetary, nearby, mechanical, national, political, and worldwide impacts to get openings and dangers well. Retail industry had a suspicion that somewhat these elements (political, monetary, social, legitimate and natural) will be appropriate. Political: It impacts associations from various perspectives. This variables can make bit of leeway and open door for any new association. They can present limitation on obligations and commitment on associations. Regal Company needs to know the world of politics in UK very well, for example, advertise guidelines, enactment, for example, the lowest pay permitted by law and hostile to segregation laws, exchange understandings and limitations. Monetary: Retail industry is delicate to loan cost and furthermore decently downturn evidence. Due to September 11 occasions, stocks were diving and costs are low untouched because of this the world economy have endured vigorously. Anyway after the September eleventh assault the world economy is up and the retail business are boosting again and customers are getting increasingly idealistic. An economy experiencing downturn will have high joblessness, low spending force and low partner certainty against a blasting economy. Social: There are changes in customer taste and way of life present the two chances and dangers for the retail business. Individuals are know all the more contemplating the design and brands picture which they can without much of a stretch manage the cost of and have them also. Populace changes likewise directly affect associations. Changes in the structure of a populace will influence the gracefully and request of products and administration inside the economy. Specialized: the manner in which a business would work has changed incredibly because of Technology. Regal Company needs to utilize this accessible innovation, for example, the web and other data trade framework, fusing a large number of programming which assists with dealing with the business. In retail industry the presentation of web based shopping by means of web is currently a typical spot for shopping. IT framework embraces the companys organization, the board, and paperless tasks which are observed by the made sure about cut off, it gives an adaptable base to maintaining the business. UK is at the bleeding edge of innovatively created. Thus Royal Company gets a bit of leeway of created coordinations and appropriation diverts as of now set up. One other apparatus that will be utilized in these regions is Porter Five Forces. This model can be utilized to acceptable logical impact close by different models, for example, the SWOT and PEST examination devices. Five Forces examinations five significant in the assurance of serious force and these are: Purchasers power: Providers power: Contention among contenders: Danger of new contestants: Danger of substitute items: The following is the chart which portrays the Porter Five Force Model: Diagram1: http://colette3010.files.wordpress.com/2009/10/5forces.jpg The Problems which Royal Company will face and dangers of substitute grocery stores, provider power, purchaser power and the intensity of client can be clarified by Porters five powers. Purchaser power additionally chooses the costs in the market. In the event that items are costly than different items will be bought. This mean market is trained which make the estimating taught too and stops them to wreck the market in a benefit war. Provider power is a fundamental piece of this model. Providers request that retailers should address them certain cost for their administration and products provided. Danger of replacement is constantly been influencing any associations, anyway they attempt to guarantee brand picture and quality by having the best an incentive for the items. Contenders and new participants is likewise another danger for Royal Company as they recognize these truly, and thusly the organization consistently plan to enhance building up its stores. Illustrious Company can decide its quality, shortcoming, opportunity and dangers to its business by utilizing SWOT investigation: Qualities different scope of items Accessible 24 hours per day Income Position is solid Increment turnover and exchanging benefits Monetary record is solid Driving Supermarket Chain Attention to Brand HR Web based Shopping ability to transform resources into favorable circumstances Openings All inclusive Developing brand sharpness Framing New Markets Globalizing the Market Unions Innovation Development in Low cost brand Broadening Offering accessible new markets with cutting edge edges Shortcomings requires nearby attention to clients and culture abroad brand Dangers existing New rivalry Crude materials costs are instable downturn in Economic Globalizing the moving business sector

Environmental issues Research Paper Example | Topics and Well Written Essays - 2000 words

Natural issues - Research Paper Example Can just deliver vitality for a predefined time c. Additional power delivered can't be put away d. Extraction and capacity of specific components (hydrogen) are troublesome. 4) Conclusion Alternative Energy Sources: A Panacea to Oil Dependence The world economy, to meet the vitality prerequisites and necessities, needs to use fuel whether sustainable or non-inexhaustible. The eventual fate of the economy of this world relies upon elective sustainable power sources. Since, non-inexhaustible assets are draining rapidly, sustainable assets could be a response to closure human reliance on oil yet it could have both positive and negative effects on an economical world. Utilizing sustainable power sources will give a choice to oil and non-renewable energy sources the same, accordingly finishing the reliance on them. This thusly will prompt a lessening in the natural issues particularly those of a dangerous atmospheric devation that are to a great extent brought about by the utilization of oil and petroleum products as a wellspring of vitality. On the off chance that the reliance of vitality isn't moved from oil and other petroleum derivatives to elective vitality assets, the world may need to confront genuine inconveniences including financial and natural (Heinberg, 2003). Another explanation how elective vitality sources can help as a progressively reliable wellspring of vitality is that petroleum derivative and oil assets are scant and running out, in this way discovering elective methods is critical to guarantee a steady gracefully of vitality for our people in the future also (Heinberg, 2003). ... Hence so as to shield this world from confronting such obliterating emergencies, there is a fundamental need that the oil reliance is diminished and elective methods are investigated (Rau, 2010). There is a grave requirement for decreasing the degrees of contamination in nature. A move from dependence and reliance on the non-sustainable power sources will make openings, for example, the usage of waste and garbage, as garbage can be utilized as a wellspring of fuel. Not exclusively will along these lines the contamination brought about by the utilization of non-renewable energy sources and oil be decreased, yet this methodology will likewise prompt the elective techniques for giving wellsprings of vitality to meet the worldwide vitality necessities, for example, the utilization of vitality for inside warming frameworks for homes, and so forth. (Rau, 2010). The utilization of elective vitality sources will likewise help the developing vitality needs of the creating nations. As the crea ting scene progresses, there will be an expansion in the vitality needs. These growing needs can be met by the creation and utilization of vitality that is delivered locally. Along these lines the advancement of the creating nations will be upheld, an ever increasing number of enterprises and organizations will have their vitality needs met and the satisfaction of vitality needs will make for accessibility of more prominent organizations and occupation accessibility needs (McNamee, 2008). The usage of sustainable power sources will free countries from reliance on different countries for oil as a wellspring of vitality. Sustainable power sources can be delivered locally anyplace. This will make it simpler for each country to be free and deal with their vitality needs with no kind of dependence on different countries. Not exclusively will it make for aâ better and

Team Working Assignment Example | Topics and Well Written Essays - 2500 words

Group Working - Assignment Example The hypotheses of Belbins, Tuckman, and time the board just cemented our task. A group ties itself in a chain just to be more grounded. The achievement of a group is legitimately corresponding to the general work of the group. There is no I in Cooperation. Collaboration is cooperating - in any event, when separated. The Teamwork can be just expressed that it is not so much me but rather more we. To put it plainly, the Team can be best clarified with this equation. At the point when you complete the Belbin Self-Perception Inventory you will get - among different reports - a 'unique mark' of your Team Role inclinations. Not very many individuals show qualities of only one Team Role. A great many people have 3 or 4 favored jobs, which can be received or shunned as the circumstance requires. Each division was set as per the expectations of the customer. We all in all concluded that we all needed to be a piece of arranging the undertaking. While overseeing utility cost, studio hardware, and reason choice were allocated to one colleague. None of us needed to be kept separate from promoting effort and introduction. Specialists, Recruitment and Launch occasion were dispensed to 2 individuals each. Along these lines buying in to this hypothesis we figured out how to fit in various jobs. The way that no one in the group was essential made the undertaking much simpler. Every one of us filled in for some body. Without one of the colleagues during the promoting effort we were readied take care of his work as well. There... None of us needed to be kept separate from promoting effort and introduction. Specialists, Recruitment and Launch occasion were apportioned to 2 individuals each. In this manner buying in to this hypothesis we figured out how to fit in various jobs. The way that no one in the group was key made the task significantly simpler. Every one of us subbed for some body. Without one of the colleagues during the promoting effort we were readied take care of his work as well. Actually when we were allocating jobs to arrive at we followed the Belbins hypothesis of group jobs. Group Roles Description (http://www.belbin.com/rte.aspid=3) Group Role Commitment Admissible shortcoming Plant Innovative, inventive, unconventional. Takes care of troublesome issues. Disregards odds and ends. Too Preoccupied to even consider communicating successfully. Asset examiner Outgoing person, eager, informative,. Investigates. Creates contacts. Over hopeful. Loses intrigue once eagerness has passes. Co organizer Develop, certain, a great seat individual. Can be viewed as manipulative. Offloads individual work. shaper Testing, dynamic, flourishes with pressure. Inclined to incitement. Affronts individuals emotions. Screen evaluator Calm, key and observing. Sees all choices and judges precisely. Needs drive and capacity to motivate others. Group laborer Helpful, gentle, insightful and conciliatory. Hesitant in crunch circumstance. implementer Taught, solid, traditionalist and proficient. Transforms thoughts into down to earth activities. To some degree rigid. Slow to react to additional opportunities. Completer finisher Careful, honest, on edge, look out mistakes and exclusions. Conveys on schedule. Slanted to stress unduly. Hesitant to appoint. master Resolute, self beginning and

Case Study on South Delaware Coors, Inc Essay Example For Students

Contextual investigation on South Delaware Coors, Inc Essay I. Articulation of the Problem The issue was provide guidance to Manson and Associates in regards to which research ought to be finished inside a timeframe, to decide showcase capability of a Coors brew distributorship for a 2-district territory in southern Delaware. II. Targets of the Study This investigation looks for the accompanying goals: to have the option to comprehend the market capability of Coors Inc. through research to figure out which explore information is/are significant for the attainability investigation of Coors Inc. to know whether the choice of Larry to turn into a wholesaler of Coors Inc. is on the whole correct to comprehend the market capability of Coors Inc. n a distributor’s perspective III. Extensions and Limitations of the Study The investigation incorporates the present circumstance of Larry Brownlow, the nature of the organization Coors Inc. , and the foundation of Manson and Associates. The examination in any case, is constrained with just optiona l information being proposed by the Manson and Associates’ Research. This examination has suggestions and perspectives that are based from my own viewpoints and thinking as a showcasing understudy. IV. Nature of The Research A. Larry Brownlow Larry Brownlow, MBA had quite a while in the past chose to put resources into a little, self-possessed business instead of the corporate mammoths. Since the Coors declaration of extension in Delaware, where Larry lives, he felt that the planning has been perfect since he will get when he arrives at 30 years of age, a major measure of cash held in trust for Larry from a family disaster. Before Larry could choose whether or not to apply for the distributorship of Coors Inc, he more likely than not investigated the market capability of the organization. Larry is presently astounded with employing a dependable research firm to give him the significant information on Coors Inc, showcase potential in Delaware. Employing Manson and Associates is exorbitant that is the reason Larry needs to pick which pertinent information should he need to break down. B. Coors, Inc. Coors is the fourth biggest vender of brew. A portion of the constructive things about the organization are the accompanying: commitment to the nature of the items, thinking about the earth, giving individuals something to have faith in and its reluctance to settle on the high caliber of its items. Then again, every business has its negative side and some of Coors are the accompanying: cold-heartedness toward minority issues principally in work and circulation and ward. Put together from the data with respect to the investigation, a portion of the costs that a merchant must contain are the accompanying: fridge, consistent refrigerating power and the aluminum can reusing gear. C. Manson and Associates Manson and Associates is a notable research industry that conducts practicality studies and delivers important information for its business-intrigued customers. Despite the fact that the firm is somewhat exorbitant, the nature of its examination proposition is justified, despite all the trouble. The firm is having a predicament on which information to accommodate Mr. Larry since they just have a constrained timeframe to do the examination, the firm needs Mr. Larry’s selection of information in 2 days so the firm can begin its exploration. V. Territories of Consideration The zones to be considered after seeking after this contextual analysis are the accompanying: †¢ the spending plan of 15,000 for look into †¢ the significance of deals and valuing †¢ the populace in the 2 area †¢ the objective market or the level of customers †¢ the impact on ROI †¢ the costs of being a merchant of Coors Inc. The financial plan of $15,000 for explore is a piece of the examination that is extremely important since this is the best way to know which information must be prepared and dissect for Mr. The Revolutionary War EssayIf he has the correct apparatuses like all the data required, he will have the option to detect more clear the open doors that Coors Inc will offer. I additionally comprehended that there is an extraordinary potential in the market since Coors Inc has been extending. On the last page of the case, there are information made by Mr. Larry Brownlow that establishes his appraisals for the costs and capital. In spite of the fact that the sum he evaluated was 100% a greater amount of his trust cash, the bank guarantees him that there is no issue in broadening a credit extension on the request for $400,000. Hence, Mr. Larry’s money related capacity doesn't involve emergency. That is the reason a bit of spending on research would not be that awful.

Because, since, and commas

So after months of living under a rock in a desperate attempt to finish my revised SAT books in time for the summer stampede, Im finally taking a few tentative steps into the sunlight. Several of you have written to me lamenting my lack of acerbic commentary on the June SAT scoring scandal, the  new SAT,  and other educational  embarrassments, and I promise you that I am well aware of that shortcoming.  Rest assured  that I do in fact have many, many things to say; Ive merely had to devote every last brain cell to rewriting my books for the last half-year, leaving me precious little room for other thoughts, acerbic or otherwise. Im hoping to begin posting some commentary here in the next weeks. For the moment, though, I want to address a topic that a couple of people have written to me about recently, namely the no comma before because or since rule. Actually, its not really a rule per se. Its more of a guideline. In the universe of SAT grammar errors, its a pretty minor one, and for that reason its pretty certain that an answers correctness/incorrectness will never depend exclusively on it. Its merely a secondary consideration. Let me back up and explain. There are two main types of conjunction: coordinating and subordinating. Coordinating conjunctions (for, and, nor, but, or, yet, so) are also known by the acronym FANBOYS. They can be used to join two independent clauses (complete sentences) and must always follow a comma when employed  in this way. Correct:  The citys government has curtailed spending on all non-essential services,  so  the new theater company has been forced to suspend its productions for lack of funding. A FANBOYS conjunction  can only be used at the start of the second clause; it cannot be used at the start of the first. Even if you dont know the grammatical rule, you should be able to recognize that this usage does not make any sense. Incorrect: So the new theater company has been forced to suspend its productions for lack of funding,  the citys government has curtailed spending on all non-essential services. Subordinating conjunctions on the other hand, can be used to start either the first or the second clause. Common subordinating conjunctions include  because,  while,  since,  when,  until, and  unless. Now, heres the rub. If you are being absolutely, technically correct, a comma should be used to separate two clauses when the clause begun by the  subordinating conjunction comes  first. Correct: Because/Since  the citys government has curtailed spending on all non-essential services COMMA  the new theater company has been forced to suspend its productions for lack of funding. When the clause  begun by the subordinating conjunction comes  second, no comma should be used (although there is an exception for strong subordinating conjunctions such as although and even though, which do take a comma). Incorrect:  The new theater company has been forced to suspend its productions for lack of funding  COMMA  because/since  the citys government has curtailed spending on all non-essential services.   Correct: The new theater company has been forced to suspend its productions for lack of funding  NO COMMA  because/since  the citys government has curtailed spending on all non-essential services. Thats the strict version of the rule. The more complicated truth is that  it depends on context: if a sentence is very long, or it seems necessary to insert a comma before because in order to make the meaning of the sentence clear, then that construction is acceptable. From what Ive observed, the College Board/ETS/whoever it is setting the rules tends to adhere to the strict version: answers that contain the construction comma + because/since are pretty much always wrong. (Please note that this pattern was observed in regards to the pre-2016 SAT only.) That said, wrong answers  with that construction almost always contain an additional problem that makes them absolutely, incontrovertibly wrong. So maybe its more correlation, not causation. A while back, someone contacted me about a question in the online program that violated that rule; an answer with the construction comma + because was correct. That did make me rethink things, but only up to a point. Ive found slight inconsistencies between the  online tests and real tests in the past, and Ive never seen a question from an administered test that broke this rule (although if anyone reading this post has seen one, please let me know!). My suggestion, therefore, is to work from the standpoint  that any answer with the construction comma + because/since is probably wrong, and only reevaluate that assumption if  theres a clear grammatical problem with every other answer. To be fair, the SAT does break its own rules sometimes, and this one isnt particularly hard and fast. But still, youre better off playing the odds and working from there.

Financial Decision Making In The Workplace - Free Essay Example

The purpose of this report is to prepare an analysis of the financial performance and position of Easyjet plc in comparison with that of Ryanair plc. The CORE model approach was used in preparing a review of each airlines annual accounts with selected ratios applied to evaluate compare, contrast their financial performance. An analysis of Easyjet plc performance and position against Ryanair plc confirms the following key findings. The principal finding from this report is that the current finance strategy for Ryanair plc is not sustainable in the long term. Easyjet plc diversification into ancillary activities has incurred costs which will be recouped over a period of time and reflect a positive investment strategy during and after the economic downturn. Furthermore, Easyjet will achieve additional savings if an optimum hedging policy is implemented during the current economic downturn. Introduction An appreciation of the European airline industry was considered in relation to Easyjet plc current financial positioning and brand recognition as the preferred low cost airline provider. The financial performance and position of Easyjet plc was appraised against Ryanair plc through application of the CORE (Context, Overview, Ratio, Evaluation) model. Context establishes the market share and European airline environment from an internal and external perspective that the two plcs operate and compete within. Overview is an appraisal of the financial performance between the two Plcs in relation to similar operational activities and qualifying their accounts and strategic approach during the current economic downturn. Ratio analysis establishes the relationship between stated totals within the Balance Sheet, Cash Flow Statement and Income Statement to establish the base of Evaluation for financial performance between Easyjet plc (Easyjet) and Ryanair plc (Ryanair). Evaluatio n of the two accounts is an integrative component of the CORE approach based upon the three previous stages to assist with identifying an overall conclusion from the analysis. The overall conclusion may then be drawn as to the degree of success of the organisation in terms of the implementation of the corporate strategy for customer, competitors and suppliers according to the specific focus of the analysis (Moon Bates, 1993). Context (Internal): Each airline as their primary activity provides international and regional low cost airline fares within the European airline industry. Both airlines are recognised within the market and operationally focussed towards a low-fare strategy. Sustainability and success of providing low cost airline fares is critically dependent upon retaining a low cost base especially during the current economic downturn to protect long-term viability. The global duopoly of Boeing and Airbus within the European airline industry influences the high fixed costs relative to variable costs that is inherent to airline pricing and generates the operational focus towards retaining a low cost base. Reducing operational costs provides each airline with flexibility to offer lower ticket fares, issue dividend shares or retain earnings for future investment as part of their competitive advantage over a rival (Brassinton Pettit, 1997). From a media perspective and operational approach, Ryanair has successfu l introduced a low cost base through staff optimisation and promoting www.ryanair.com for online ticket sales. Application of the airlines website can provide an integrated marketing communications strategy as well as introducing an effective management information system to co-ordinate revenue activities. Ryanair is reputed to have achieved  £22 million pounds in reduced sales and distribution costs through application of their web-based management information system (Done, 2008). Additional operational savings to establish a low cost base have been generated through Ryanairs standardisation of their airline fleet to Boeing 737s. Standardisation provides lower staff training and maintenance costs due to familiarity and inventory considerations. Both airlines target the European short-haul city break market segment and utilise a system termed yield management to allow seats to be priced according to supply and demand (Ryanair Plc, 2008). Ryanair and Easyjet focus upon an opt imum turnaround time at each due to empty planes being non-revenue generating. To maximise profits, fixed and variable costs are regularly challenged to introduce further savings which establishes the rationale as a low cost airline provider not to be forthcoming with compensation to passengers for flight cancellations. It is therefore an operational priority to ensure service delivery with minimal lost baggage claims and flight reliability exceeds the industry standard in relation to key performance indicators. Dependent upon the size of the aircraft purchased or leased from Boeing and Airbus, economies of scale can be achieved to increase the operating profit margin of the airline. Establishing a sustainable low cost base can increase the projected operating profit, increasing the airlines purchasing power to negotiate preferential commercial arrangements with suppliers. Furthermore financial success in one industry sector provides opportunity to develop activities in another s ector using ancillary partners. In relation to each airline generating ancillary revenue, Easyjet activities have diversified into various market segments and achieved higher revenue returns beyond that of Ryanair, as detailed within each airlines Income Statement. Both the airlines have expanded their ancillary activities with Easyjet achieving a 115% improvement for ancillary services including Car rentals, Hotels, apartments, Travel Insurance and Airport Parking as recorded within their respective company accounts.Ultimately, Easyjet is expanding the portfolio of activities during the economic downturn to develop the brand and establish complimentary ancillary services to mitigate against revenue loss in a specific sector such as Passenger flights. In contrast, Ryanair has generated a 23% improvement in their ancillary services with passenger service the primary focus to achieve revenue (Easyjet Plc, 2008). As a short term strategy, this has possibly generated the concern t hat Ryanair performance has improved over Easyjet, yet as a long term approach the approach is not sustainable. This is due to all operational activities having a specific cost threshold and in a fare war contest it may become necessary to subsidise activities from other more profitable ancillary activities. The current approach by Ryanair in the economic downturn is therefore considered prejudicial against their long-term viability. Each airline primary assets are detailed within the Income statement that reflects the substantial capital outlays in relation to the purchase of aircraft fleet for both providers. In the long term this approach can be beneficial due to reduced future costs associated with leasing as well as minimising interference from external financing companies concerning pricing tactics with possible withdrawal of finance due to perceived negative publicity of the airline. Ownership of aircraft establishes a tangible asset and brand platform that can be appli ed to increase shareholders and investors confidence. The accumulation of assets establishes a long-term investment strategy that requires operational maintenance and management depreciation consideration. Ownership of the asset ultimately provides each airline with the opportunity to select without constraint their service partners for maintenance, cleaning and insurance coverage. As previously mentioned both airlines target the short-haul city break markets and utilise the yield management system to allow seats to be priced according to supply and demand therefore exercising full control of their marketing mix to the consumer (Airlines, 2006). Recorded revenues of  £2,171 million was achieved by Ryanair during the financial year ended on March 2008, representing an increase of 21.3% over 2007 and generating 37.6% of the total revenues in 2008(Ryanair, 2008) in comparison recorded revenue was  £2,362.8 million in September 2008 generating an increase of 31.5% compared to the ir performance in 2007 and reflective of a sustainable corporate strategy to protect the viability of Easyjet during the economic downturn(Easyjet Plc, 2008). Easyjet completed the acquisition of GB Airways in January 2008 with Ryanair attempting a similar corporate acquisition that was rejected by Aer Lingus. Currently no progress has been achieved from the Aer Lingus rejection of the offer yet the collapse of buget airlines Sky Europe in 2009 with previous budget airlines also going into administration does not provide the consumer with confidence in low cost fare providers (PIGNAL, 2008). Context (External) According to Datamonitor (2008) by 2011 the airline industry is forecast to have a value of  £89 billion with 773.5 million passengers anticipated to use airline travel on an annual basis. Competition amongst the two airline providers is increasingly focused towards cost and brand marketing. Various management cost reduction initiatives with provision of only one class of service have developed each airlines reputation as a no-fill providers due to costs being charged for all non-essentials. To assess the external profile of Easyjet in comparison to Ryanair a SPECTACLES approach is applied with consideration towards the various categories as well as applying Porters five forces model (1980). Social considerations include recognition of both airlines as market leaders with strong brand identification for low cost fares. Furthermore, both airlines have developed a reputation for reliability through punctuality of flight times, minimal flight cancellations and reduced lost lug gage claims. Political considerations include all regulatory constraints that may apply to both providers such as airport charges which are generally levied through regulation rather than commercial negotiation. Economic considerations include the economic downturn, reduced disposable income and expenditure of customers together with increasing fuel costs due to global conflict and fear of terrorism attacks. In addition, global events have increased insurance provisions and requirements within the airline industry. Cultural considerations include the perception that low cost airlines provide an inferior service in comparison to traditional flag carrier and charter airlines that concentrate upon a differentiation competitive advantage. Technological considerations include the recognition that safety is a main consideration and cost aspect with all aircraft parts have a defined life-span before replacement is required. The replacement of prop aircraft to jet engines as par t of fleet modernising as well as increasing safety requirements requires airlines to a continual review of their projected capital and maintenance allowances. Aesthetic considerations include the preference for one airline over another with Easyjet achieving a global focus due to broader activities in comparison to Ryanair. Both airlines provide the same class of service on all flights with emphasis upon low costs. Customer considerations include ease of on-line booking together with ticket costs combined with reliability of each airline operating the prescribed flights and minimal loss baggage claims. Against Easyjet, Ryanair has achieved significant short-term success in this category at the expense of generating a love/hate relationship with the public. Legal considerations include the regulatory constraints for passenger safety, security provisions, noise reduction, and environmental issues. In addition, to employment and aviation law, there is competition and liabilit y legislation that restricts the operating activities of each airline. Environmental considerations include all regulatory constraints that may apply such as noise reduction, emissions and fuel efficiency, reduced energy, water and material consumption and air traffic congestion. Sectoral considerations include review of competitors and future regulatory considerations to enable a competitive advantage to be developed over rival airlines. In many respects review and implementation of Porters (1980) competitive forces provides the sector framework for analysing the intensity of competition to the profitability and attractiveness within an industry. The below five forces diagram illustrates the relationship between the different competitive forces (Porter, 1980). Adapted from Porter (1980) Five Forces Model Threat of new entrants low The preference for lower air fares generated the business opportunity for Easyjet and Ryanair to compete against traditional flag carrier and charter airlines. A high capital investment and legislation requirement combined with competition for additional airport slots/positions creates physical and financial barriers for new operators within the airline industry. Bargaining power of customers increasing Availability of constant information through the World Wide Web provides information of which airline has the cheaper fare and within an economic depression, the preference of the customer is generally towards the cheaper service provider. Bargaining power of suppliers strong but limited The price of aviation fuel is directly related to the cost of oil, as an individual company Easyjet and Ryanair does not have the power to alter this. The impact of the supplier depends on the availability of alternative suppliers and product substitutes (Dibb Simpkin, 2001). The more these airlines expands the more power it will possess over its suppliers Threat of the substitute products or services low There are no tenable threats from other modes of transport as distances are too great except from London to Paris, which can be reached by Euro Star. Current competitors Easyjet and Ryanair sustain a cost leadership advantage over all other operators including traditional flag carrier and charter airlines that utilise a differentiation rather than a low cost base. Overview: Both Ryanair and Easyjet have membership of the European Low Fares Airline Association (ELFAA) to assist with their equal representation within the airline industry. According to ELFAA (2009) statistics Ryanair provides 1,200 daily flights in contrast to the 1,000 daily flights provided by Easyjet. As a consequence of providing a higher volume of daily flights than Easyjet, the passenger load factor for Ryanair is lower at 81.4% according to the June 2009 ELFAA statistics. The passenger load factor of 85.2% for Easyjet identifies on average their passenger occupancy per flight which can be compared to the break-even point to identify the profitability of a specific flight (ELFAA, 2009). The below table provides an insight of each organisation in relation to their operations and company profile. RYANAIR EASYJET ESTABLISHED 1985 1995 ANNUAL TURNOVER 2171 million 2,362 million OWNERSHIP STRUCTURE Ryanair Holdings Plc Easyjet Plc NO OF AIRCRAFT 220 165 MAJOR FLEET TYPE BOEING A320 ;BOEING MAIN HUB LONDON, STANSTED LONDON, LUTON AIRPORT H/Q DUBLIN, IRELAND LONDON, UNITED KINGDOM NO OF ROUTES COVERED 950 400 NO OF COUNTRIES COVERED 147 COUNTRIES 28 COUNTRIES EMPLOYEES 5920 6107 PASSENGER VOLUME 60 MILLION 43 million PASSENGERS 5.12 million 3.53 million PUNCTUALITY FLIGHTS ON TIME 88% 80% ACQUISITION MERGERS FAILED TO ATTEMPT AER LINGUS ACQUIRED GB AIRWAYS EXTERNAL AUDITORS KPMG PRICEWATER COOPERS AIRLINE PASSENGERS PER EMPLYOEE 9679 6772 Source : Easyjet plc 2009 Ryanair plc 2009. Both the airlines follow the going concern basis in preparing their financial statements which have been certified by independent respective external auditor as being a true and fair status of the companys financial overview. The financial statements are prepared in accordance with the International Financial Reporting standards (IFRS) as adopted by European Union (EU) and effective from March 2008; as applied in accordance with the prevailing Companies Act legislation. Both airlines amended their accounting policy in 2005 from UK GAAP to International Financial Reporting Standard (Ryanair Plc, 2008 Easyjet Plc, 2008). Both airlines are successful in strategising for revenue generation with Ryanair maximising its profit through effective control of operating expenses in comparison to Easyjet. An example is Ryanairs effective fuel hedging policy which allows the airline to allocate fixed fuel costs without surcharge to the customer whereas Easyjet varies their fuel surcharge to the customer. The turnover for Easyjet is  £2,362 million (2008) from  £1,797 million (2007) which is a 20% increase in the turnover. Unfortunately due to the increased administration expenses incurred profit margins have not been maximised due to staff, marketing and fuel costs. These costs cumulatively represent a total cost increase of 28% in 2008. The final outcome was a decrease in profit margin from 11.23% from 4.66%, which trails far behind Ryanairs profit margin (Easyjet plc, 2008). Ryanair in comparison to Easyjet has increased its turnover to  £2,171 million (2008) from  £1,789 million (2007) which is a 13% increase whereas their administration costs increased by 13% from last year. This has led to Ryanair capitalising on the increase in turnover to profit (Ryanair plc, 2008). Airline passenger per employee for Ryanair is greater in comparison to Easyjet and reflects an optimum utilisation of resources. Ryanairs punctuality of flights on time is 88% when compared to 80% of Easyjet which demonstrates the operational efficiency of staff. The customer base has increased for both airlines with Ryanair achieving greater customer retention through market domination of the short haul flights. The addition of 16 more aircrafts through Easyjets acquisition of GB airways to 165 aircrafts am ounted to a capital expenditure of  £118 million (Easyjet plc, 2008). Ryanair took the delivery of 30 new aircrafts bringing its total to fleet of 220 aircraft which amounted to  £97.1 million towards capital expenditure incurred for the year. Both the airline has an expansion plan which clearly shows in their adding of more aircrafts to their existing fleet. Ryanair has raised finance through the mortgage of their aircraft, with a book value of  £3,061.5 million as collateral security for finance generated through loans for purchase of next generation 737-800 Boeing aircrafts (Ryanair plc, 2008). Ratios The calculated ratio analysis establishes the relationship between stated totals within the Balance Sheet, Cash Flow Statement and Income Statement to establish the base of Evaluation for financial performance between Easyjet plc (Easyjet) and Ryanair plc (Ryanair). The three main areas of Strategic analysis include Profitability, Liquidity and Efficiency as well as Gear ing and Investment. Consideration of the ratios reflects the performance of Easyjet in achieving strategic goals in comparison to Ryanair and other rivals. The ratios are in the table format and the implications are discusses below (Moon Bates, 1993). Ratios RYANAIR EASYJET 2008 2007 2008 2007 Profitability ROCE 9.20% 9.86% 5.78% 12.08% Net Profit Margin 16.17% 20.16% 4.66% 11.23% Goss profit margin 19.79% 21.09% 3.85% 9.57% ROSF 15.61% 17.15% 6.51% 13.22% Liquidity Current Ratio 1.53 Times 2.02 Times 1.56 Times 1.88 Times Acid Test Ratio 1.53 Times 2.02 Times 1.56 Times 1.88 Times Gearing Ratio 47.55% 44.47% 41.53% 39.19% Interest Cover Ratio 5.53 Times 5.09 Times 3.36 Times 6.70 Times Efficiency Ratio Earnings per share 20.67 22.56 19.84 36.61 Wage Cost (%) 10.51% 10.13% 11.14% 11.36% Other ratios Debtors Collection days 4.6 days 3.82 days 21.55 days 34.2 days Creditors Payment days 17.39 days 8.94 days 11.97 days 8.04 days Source: Easyjet Plc.2008 Ryanair Plc, 2008. The financial ratios provide a quick and relatively simple means of assessing the financial health of the organisation (Atrill Eddie, 2006). Evaluation: To complete the CORE model an evaluation of the two airlines has been prepared with a succinct summary of the main findings of the report including key recommendations identified. Both airlines have reduced profit margins with Easyjets profit margin gap is significant in compared to Ryanair. The decline in the profit is mainly due to an increase in administration cost as previously reported. The main contributing factor is 66% increase in the fuel cost when compared to 2007 whereas Ryanair had only 14% in increase in fuel cost due to its effective (73%) hedging policy on fuel charges. Neither airline released dividend payments for 2008. To reduce short-term earnings volatility Easyjet has put the following fuel and currency hedging positions in place: 66% of anticipated 2009 funding requirement is hedged at  £1.96/ £,an additional 5% of requirement are hedged with collars with average floors of  £1.73/ £ (of what Shinde per sq metre); 56% of 2009 capital expendi ture relating to aircraft deliveries hedged at  £1.97/ £; 81% of anticipated 2009 euro surplus hedged at ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬1.24/ £. (Easyjet plc, 2008). Easyjet has also achieved a positive trend through reduced wage costs in comparison to Ryanair, which is a consistent consideration to maintain during an economic downturn to ensure competiveness with Ryanair. The operating profits for Easyjet were lower due to incurred advertising costs which were high in comparison to minimal advertising costs incurred by Ryanair and recorded as zero within the Income Statement. Online booking for Ryanair is greater than 90% which results in a small operating expense towards marketing. In contrast to Ryanair, Easyjet is applying a long term strategic approach to maximise revenue through advertising in the media and other channels to inform customers of their service value with competitive low fares. The acquisition costs for integrating GB Airways costed at  £12.9 million in 2008 which is going to reflect as an expense on next years income statement will assist Easyjet to increase profit margins. Easyjet has also increased ancillary revenue which will assist the company to mitigate its corporate risks through diversification of activities. Both airlines use the straight line method for calculating depreciation due to which Easyjet is showing 33% increase in its depreciation cost versus Ryanair 22% increase in depreciation. In relation to Easyjet the depreciation cost is high due to the acquisition of GB Airways with additional assets to be depreciated. The interest cover ratio, which is used to determine how easily either airline can pay interest on outstanding debt, was calculated by dividing each airlines revenue before interest and taxes with ratio. The interest cover ratio has declined dramatically for Easyjet by 3.34 times when compared to Ryanair which increased by 0.44 times. Thus the decline in Easyjets interest cover ratio can be explained through an increase in borrowing and combined with a dramatic decline in profitability in 2008. The lower the level of operating profit coverage, the greater the risk to lenders that interest payments will not be met, and the greater the risk to the shareholders that the lenders will take action against the business to recover the interest rate. Whilst Ryanair has its maintained a preferable interest cover ratio in comparison to Easyjet due to the profit  £429,664 achieved despite high borrowings. Easyjets Interest cover ratio was not as favourable due to their profit margins of  £910,000 despite achieving a preferred gearing ratio in comparison to Ryanair. The gearing ratio refers to the relationship between the amount of fixed interest capital and the amount of equity within each airline. Ryanair has increased from 44% (2007) to 47% (2008) primarily due to an increase of long term debts at 13% in 2008. When the value of debt capital is more than the value o f equity as in Ryanairs situation the organisation is highly geared due to significant borrowings of  £1,814.57 increasing the risk of becoming insolvent in the medium to long term particularly if the economic downturn continues. Ryanair is raising finance for operational activities at the expense of an increased gearing ratio from 9.32% in 2007 compared to 39.96% in 2008 due to a decrease in profit margins (Ryanair Plc, 2008). Whilst, the gearing ratio for Easyjet increased to 41.53 % (2008) from 39.19 % (2007) this is primarily attributed to the acquisition of GB Airways. The future gearing for Easyjet will reduce due to consolidation of activities whereas Ryanair increased gearing is attributed to the intended acquisition of Aer Lingus, purchase of market shares and investment within operational activities. It would therefore appear that Ryanair have exhausted the potential to achieve future funding due to their current gearing ratio whereas Easyjet focus is towards conso lidation of activities with an increase in profit margins anticipated in 2009/10. Easyjet have increased current liabilities in terms of aircraft maintenance cost and derivative financial instruments (hedging losses) that have generated a reduction in the current ratio combined with the acquisition of GB Airways. Whilst Easyjet can access significant cash and liquid investments to mitigate the risk of business disruption events of approximately  £863 million as at 30 September 2008 this excludes restricted cash of  £66 million for short-term liabilities. Whereas the cash balance for Ryanair has improved it is only through analysis of the ratios that a downward trend is developing due to an increase in current liabilities within derivative financial instruments. Ryanair utilises derivative financial instruments to hedge against losses by anticipation of future price increases concerning predicted variability in cash flows of an asset, liability or a highly probable forecast ed transaction. A significant contribution for an increase in the current ratio for Ryanair is the increase in maturity of debts. Both Ryanair and Easyjet have a similar acid ratio due to absence of stock or inventories within their published balance sheets. The sales revenue per employee ratio identifies how each airline is utilizing their employee productivity with an increase generally reflective of efficiency with management establishing additional key performance indicators for staff to achieve. As previously detailed on the ratio comparison table, Ryanair has increased sales revenue per employee. Return on capital employed identifies the relationship between the operating profit and average long term capital invested and is significantly reduced for Easyjet due to long term liabilities yet this is recognised as a temporary phase following the GB Airways acquisition as well as undertaking airline operations within a competitive market. Achieving a profit within an economi c downturn combined with adjustment of the hedge reserve will enable Easyjet to improve their effectiveness in 2009/10. In contrast, the capital redemption reserve for Ryanair has increased due to purchasing previously released equity shares as well as increasing long term liabilities with various financial institutions and established primarily on the basis of guarantees granted by Export-Import Bank of the United States to finance the acquisition of 107 Boeing 737-800 as a next generation aircraft. Whilst having less favourable ratios than Easyjet the funding provided by the Export-Import Bank of the United States for Ryanair is attributed to the bank emphasis to support the financing of U.S. goods and services (Trade Finance, 2004). It could also be suggested that the purchase of previously released shares by Ryanair was implemented to prevent another airline purchasing Ryanair shares due to their perceived vulnerability since the continued reduction of operational costs is not a sustainable activity. The Debtors Ratio identifies the effectiveness of a debt collection routine and within the competitive low fare airline industry, efficient ratios would be anticipated especially when the focus is towards cost reduction measures and borrowing finance is a chargeable activity. Ryanair has an excellent debtor collection policy with a minimal increase 0.78 days in 2008. This could also be reflective of the absence of available liquid reserves within a business to increase the availability of working capital and reduce finance borrowings. In contrast, Easyjet debtor ratio can be optimised from 12.65 days in 2008 to improve the availability of working capital within the business and limit borrowings. In comparison of the two airlines, Easyjet could improve their debtor ratio to seven days for efficiency purposes whereas Ryanair requires a constant focus on their debtor ratio analysis due to availability of working cash and requirement to minimal all non-es sential costs. The Creditors Ratio provides an alternative perspective on how the two airlines consider their debt considerations. Ryanair creditor payment period is 8.45 days and therefore due to the volume of activities there is the availability of finance for other activities for an average of 8.45 days until payment/settlement is issued. Through utilising the credit payment period as a temporary borrowing option there is the perceived high risk that funds for payment could become committed and rather than generating revenue growth, funds are being juggled. In contrast the creditor payment period for Easyjet is 3.93 days restricting the availability of working capital to be paid to creditors rather than using it for day to day operations. In summary of the ratios selected for comparison the creditor and debtor ratios is reflective in general of how each airline is approaching their activities. Ryanair is quick to require settlement from debtors due to their restricted borro wing availability and uses a period of 8.45 days as an opportunity to generate additional revenue prior to settlement. Depending upon the volume of finance available within this period, Ryanair is anticipating the generation of additional revenue through hedging activities and received interest returns. In contrast, Easyjet is quick to make settlement as a creditor and less efficient in seeking settlement from debtors. This is similar to the Easyjet approach to strengthen their brand image and also diversify into other activities. Succinct summary of the main findings of the report including key recommendations identified. The Profit and Loss statement for Easyjet appears robust as confirmed through review of the selected ratios in comparison to Ryanair. In addition, whilst the purchase of GB Airways by Easyjet on January 31st of 2008 could disguise discrepancies within their accounts, it is worthy of note that despite this acquisition their accounts still remain favourable in comparison to Ryanair. Easyjet in comparison to Ryanair is expanding and diversifying their activities as well as strengthening their brand recognition. The Easyjet brand has a separate value to the airline through selective marketing enabling the separate sale of the brand through an acquisition or management buyout; in contrast Ryanair brand has become devalued and linked to cost cutting initiatives. The 2008 accounts for Easyjet includes the  £12.9 million integration of GB Airways as an integration cost specific to this year and in future years should generate profit to recoup the initial expenditure. The profit for Easyjets financial performance in 2008 has declined by 6.57% when compared to 2007 although it retains strong liquidity with cash and money market deposits of  £863 million. (Easyjet Plc, 2008). The ancillary revenue generated by Easyjet is increasing as evident from the cash flow statement. Through diversification a wider market segment is being target ed in comparison to Ryanair. The overall Easy brand has a high level of recognition and customer advocacy in all selected key markets as confirmed by the Family Brands Poll in 2009; in contrast Ryanair is recognised, as the least preferred family brand (Telegraph, 2009). The credit and debt collection ratios for Easyjet though not a necessity can be improved whereas Ryanair is maximising their efficiency to facilitate the availability of working capital having mortgaged their airline fleet to raise finance. Both airlines have distributed their risk against rising fuel prices and dollar fluctuation through adoption of hedging initiatives. Ryanair in their attempt to purchase Aer Lingus have generated an impairment loss of  £51 million. In attempting to purchase Aer Lingus, Ryanair is potentially vulnerable to a reverse acquisition challenge, furthermore the value of Aer Lingus shares is predicted to reduce further generating an additional reduction on the 2009/10 profit margi ns (Ryanair Plc, 2008). The concentration of passenger service revenue by Ryanair as their primary operation is subject to industry fluctuations, whereas Easyjet have ancillary revenue and a marketable brand value to hedge against industry fluctuations. The policy of Ryanair to absorb the fuel surcharge to permit a low fare offering to the customer is not sustainable in the long term airfare due to predicted fuel increase costs. The corporate culture of the two airlines is evident through Ryanair Chief Executive Michael OLeary decree that there is no point in continuing to grow rapidly in a declining yield environment, where our main aircraft partner is unwilling to play its part in our cost reduction program by passing on some of the enormous savings which Boeing have enjoyed both from suppliers and more efficient manufacturing (Ruddick,2009).This is also reflective of the possibility that Ryanair will not be able to generate additional finance to enable expansion followin g recognition and review of the selected ratios. In summary of the evaluation between the two airlines it would appear that Ryanair could be assumed to be the market leader for the uninformed due to their current activities for 2008 only. The strategic planning within Easyjet has developed a special brand with opportunity to use available finances as well as capacity for increased borrowings to enter into a price war with Ryanair. Conclusion It is highly probable that with the acquisition of GB Airways in 2008, predicted consolidation of activities in 2009 and possible creation of a price war with Ryanair in 2010, Easyjet will establish recognition as the market leader instead of a rival low cost airline operator to Ryanair. The current economic downturn has increased the competitiveness between airlines with a requirement to establish a low cost base to ensure survival. Ryanair has already implemented this with their current activities due to high gearing not considered sustainable. Easyjet has the availability to introduce additional savings, generate additional finance and introduce further brand diversification during the economic downturn. The availability to undertake additional acquisitions during the economic downturn whilst other organisations suffer reduced market values will increase the future profit margins for Easyjet after consolidation of the new assets. The financial operations within Ryanair res trict the availability to generate additional financing during the economic downturn whereas Easyjet has opportunity to raise finance if considering the acquisition for Aer Lingus in 2011. Although it may be preferable not to enter into a determined bidding war with Ryanair intended purchase of Aer Lingus that should be challenged only to increase the acquisition costs applicable for Ryanair. This approach will financially exhaust Ryanair if the market value of Aer Lingus is contested. It is probable that Easyjet will be in a position to purchase Ryanair or Aer Lingus from 2011 onwards, if the projected profit margins of Easyjet remain consistent. -The End- References (1) Atrill.P Eddie.M., (2006).Accounting and Finance for Non-Specialists.5Th ed: Essex: Pearson Education Limited. (2) Brassington.F. Pettitt.S.(2007) Essentials of Marketing.2nd ed: Essex :Pearson Education Limited. (3) Porter.E.M (1985) Competitive Advantages: Creating and Sustaining Superior: Upd Exp edition (September 1, 2008),Harvard Business School Press. (4) Moon, P., Bates, K. (1993), Core analysis in strategic performance,  Management Accounting Research, Kidlington:  Jun 1993.  Vol.  4,  Iss.  2;   pg. 139, 14 pgs. (5) Dibb.S and Simkin.L. (2001).The Marketing Casebook. 2nd ed: London. Thomson Learning. (6) Ryanair Plc, 2008. Annual report 2008. [Online], Available at: https://www.ryanair.com/doc/investor/2008/Annual%20report%202008%20web.pdf[Assessed November 21 2009]. (7) Easyjet Plc, 2008. Annual report 2008. [Online], Available at: https://corporate.easyjet.com/~/media/Files/E/easyJet/pdf/investors/result-center/easyJet_ar081.pdf. [Assessed November 21, 2009]. (8) AIRLINES: Heat is on for short-hauls.  2006.  Marketing Week,  November  9,  20-21. Available at:  https://www.proquest.com/  [Accessed November 21, 2009]. (9) STANLEY PIGNAL.   2008 .  The Week:  [LONDON 1ST EDITION].  Financial Times,  February  23,  https://www.proquest.com/  [Accessed November 21, 2009]. (10) Done, K., 2000. Web prompts huge savings for Ryanair TRANSPORT PRE-TAX LINE AHEAD 54%: [London edition]. Financial Times, November 8, https://www.proquest.com/ [Accessed November 21, 2009]. (11) ELLFA, (2009). ELFAA condemns UK Governments further smash and grab on Passengers. (Online)(Updated 30 October 2009) Available at: https://www.elfaa.com/ELFAA_Press_Release_UKAPD_301009.pdf [Assessed November 1 2009]. 12) Lloyds TSB closes Ex-Im loan for Ryanair.  2004.  Trade Finance,  October  1,  21-22.   Available at: https://www.proquest.com/  [Accessed November 21, 2009]. (13)Ryanair Holdings plc, (2009) Company Profiles Data monitor (online) Available at : https://web.ebscohost.com/ehost/pdf?vid=99hid=6sid=ae8119cb-7824-4419-b32c-e89f80cd4ca0%4 0sessionmgr12[Accessed November 12, 2009]. Easyjet plc, (2009) Company Profiles, Data monitor (online), Available at: https://web.ebscohost.com/ehost/pdf?vid=98hid=6sid=ae8119cb-7824-4419-b32c-e89f80cd4ca0%40sessionmgr12[Accessed November 12, 2009]. (15) Telegraph.2009.Easyjet set to hit profit targets.[Online] (Updated 14 Nov 2009)Available at: https://www.telegraph.co.uk/finance/newsbysector/transport/6570145/EasyJet-set-to-hit-profit-targets.html) [Assessed November 21, 2009]. (16) Ruddick, G.2009. Ryanair and Easyjet row after Irish airline says it could scrap `plans to buy 200 more aircraft :Telegraph.co.uk: Nov 2 2009.(Online) Available at: https://www.telegraph.co.uk/finance/newsbysector/transport/6488871/Ryanair-HYPERLINK https://www.telegraph.co.uk/finance/newsbysector/transport/6488871/Ryanair-and-easyJet-row-after-Irish-airline-says-it-could-scrap-plans-to-buy-200-more-aircraft.htmland-easyJet-row-after-Irish-airline-says-it-could-scrap-plans-to-buy-200-more-airc raft.html [Assessed on November 21, 2009]. (17) Telegraph 2009. Ryanair named worst family brand. [Online] (Updated 23 Nov 2009) Available at: https://www.telegraph.co.uk/travel/travelnews/6641220/Ryanair-named-worst-family-brand.html [Assessed November 21, 2009].

Cause of Lack of Self Confidence - 6982 Words

Safety Management Safety Management Improving Business Outcomes Behavior-based safety techniques can influence organizational performance By Treasa M. Turnbeaugh O ORGANIZATIONAL CULTURE is an important consideration in managing a firm’s overall success. Management can set goals and objectives, assign responsibilities and accountabilities, and monitor business outcomes and processes, but it must also consider the context in which all of these initiatives occur. Organizational culture is difficult to define and cannot be measured in a direct manner as it is a soft social science issue rather than a standardized quantitative measure. To confound matters, subcultures often exist within organizations that may or may not be†¦show more content†¦accomplish goals. It may be important for the feeling of affiliation, motivation and job satisfaction. However, a strong culture can also be a deterrent to change. Studies have suggested that great companies cannot remain stagnant and still be great; they need to â€Å"change culture over the life cycle of the organization† if they want to continue to succeed (Baker, 2008, p. 8). Changing culture is a far more difficult task than trying Treasa M. Turnbeaugh, Ph.D., M.B.A., CSP, is to understand culture. Know- client services/risk control manager for Safety ing what to aim for is one of the National, an excess insurance carrier based in first steps in moving toward a St. Louis, MO. She has more than 20 years’ change initiative. Organiza- experience in the safety profession and has tional culture evolves over time extensive experience in workers’ compensation and can be (and should be) a cost reduction, ergonomics, industrial hygiene, managed process. 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