Product Design Coursework Free Essays

The aim of this report is to carry out a feasibility study for the development and the manufacture of a novel synthetic fibre to be used to make leisure clothing aimed at the spring and summer market, as asked by our board of directors. I will present a report addressing the project in terms of the Innovation Cycle for product development. This shall cover the definition and evaluation of the products, their form, market and manufacture in terms of the Product Innovation Major Steps, which include: Needs: What needs should the product fill? Ideas: What different products could satisfy these needs? Selection: What ideas are the most promising? Manufacture: How can we make the product in commercial quantities? Innovation Cycle: Product Innovation involves the introduction of a new good or service that is new or substantially improved from previous versions. We will write a custom essay sample on Product Design Coursework or any similar topic only for you Order Now Innovation is not just about new products, it is a whole new approach to business. The novel synthetic fibre that I will analyse is Nylon with main uses in clothing and footwear. Nylon is a commodity chemical as it is produced in high volumes and yields low profits and so it has a low added value. There is no large scale need for chemists and engineers in commodity chemicals. Needs: What needs should the product fill? The product should fill the customer’s needs and to find the needs of the customer, we need to do market research and ask the customers directly what they require through questionnaires or interviews. This is known as primary research as answers are directly answered to the companies needs. Once loads of information has been collected, the customers needs have to be interpreted and taken into consideration. This information can then be used into product specifications and therefore products are produced depending on customer needs. For example, customer needs for the manufacture of Nylon to produce leisure clothing. Essential: o Light weight o Strong o Comfortable Desirable: o Wear resistance o Long lasting o Easy to wash o Easy to iron Useful: o Cheap Specifying a benchmark would be one of the final stages in the needs. The new developed product must meet up to standards with either existing products or an idealised product. If this is not the case then and the benchmark cannot be achieved or surpassed, then it is not worth developing the product. Ideas: What different products could satisfy these needs? The next step in the innovation cycle is to generate ideas. Most of the source of ideas comes from the: Development team. These people research into the product into great detail and most of the ideas are generated by the developing team. Customers. Questionnaires and interviews are analysed and a different view of ideas are produced. The interviews and questionnaires can be very important as the customers will be the ones who buy the products at the end and they may also be using similar or existing products. Although questionnaires can sometimes be unreliable if not enough data is collected. Competitors. Useful data can be obtained if you as a company are selling similar products. Consultants. These are often not as useful as customers or the development team. Literature. This will have a large range of views and if researched into properly, books, patents and trade information will produce some excellent ideas. Product development teams generate ideas by brainstorming which is a group exercise and mind mapping which is usually done individually. In developing a product, it requires up to one hundred ideas to find an idea which is really worth going for. To reduce the amount of ideas we have to only the good ideas we have to organise ideas into specific categories which may require more brainstorming. The more ideas are organised, the more we would be able to realise if they are strengths or weaknesses in organisations. Selection: What ideas are the most promising? From all the ideas we have generated, we only take very few good ideas to take forwards for production. To select these few good ideas to take forward we need a Screening Criteria which would select the best ideas. This selection process now would require scientific and engineering judgement. These are: o Safety – Make sure that the product (nylon) would be safe to produce and wear. o Low environmental impact – Make sure that nylon produced clothes and any by-products are not dangerous to the environment o Low cost – Make sure that the method of producing nylon is the cheapest with the highest return for money o Minimum risk – Make the manufacture of nylon economically feasible o Engineering ease – Make the manufacture of nylon technically feasible After the screening process and choosing the best ideas, we now need to do a risk assessment. This will identify and catalogue all risks of producing the product (nylon). Eliminating the risk will be the most important thing and then we can compare quantitatively the terms of the cost and time. Risk management also need to be put in place as to reduce risks or possible risks before proceeding, or accepting the risk and proceeding. This decision is based entirely upon management and the best option will be chosen for the organisation at that time. Manufacture: How can we make the product in commercial quantities? At this stage we are now ready to decide how to produce the product. We have the chemical product we need to manufacture; we have identified customer needs and generated enough ideas to fill this need. When considering the manufacturing process we need to take into account: o Raw materials o Demand for supply o Time taken for product to reach the market o Size of plant o Labour o Operating and capital costs of plant After the manufacturing costs of the product (nylon clothes), we need to consider the packaging. This should be: o Attractive o Waterproof to prevent water ruining the nylon After the packaging, we can finally sell the product. To get the product out onto the market we could: o Advertise in clothes shops o Advertise on TV After advertising, the product would have reached out to a far reaching population. How to cite Product Design Coursework, Papers

Queen Elizabeth I Of England Essay Example For Students

Queen Elizabeth I Of England Essay Elizabeth was the unwanted daughter of King Henry VIII, the king who killed hermother, because she did not bear a son. Elizabeth grew up in a country at war with it selfin the wake of King Henrys religious reforms. Through no fault of her own, Elizabethwas cast aside by her own father; resulting in a lonely childhood and adolescence. Whileher half sister Mary I was queen, as a young women Elizabeth lived quietly, waiting forher opportunity to succeed. On November. 17, 1558, Mary died and Elizabeth began herreign. During her years as a queen, Elizabeth influenced England greatly, withwhich to this day the Elizabethan age is most often associated. Education was one of Elizabeths greatest influences on England. Perhaps herinfluence on the importance of education as a young girl and her longed desire to learnhelped her strive for this particular goal. Children in those days began their studies reallyearly in the morning. They were expected to work long hours with out getting distracted. Over the years her tutors wrote glowing reports on her excellent progress. At ten yearsold, Elizabeth was excellent at Latin, and she could speak Italian pretty well. She wasalso taught ancient and modern languages, religion, history, geography, mathematics,science, and music. She kept up her studies even when she became queen.(Zamoyska10-11) Queen Elizabeth introduced to her country the seeds of freedom, which Englishmen now took for granted. The growing number of printing presses made books morereadily available, because an increasing amount of people, both men and women beganAs a Protestant, Elizabeth influenced her countrys religious decisions. According to Zamoyska: While Mary was still queen of England, Elizabeth did not wantto risk her greatest opportunity of being next in line. She had a difficult task of having toconform openly to the Catholics, while still keeping support for the Protestants and theyounger generation that looked up to her. (19) Elizabeths first decisions bore on the religious issues. She turned the situationback to the state of things during the last years of Edward VI, allowing the repatriation of the Protestant leaders who had been driven out underMary.She didnt, howeverencourage further changes, and essentially supported the Church of England Moderate Protestantism had been practiced under Henry VIII , and under Edward VIeven more radical Protestant programs were implemented.. Mary in the other hand, hadrestored the Roman Catholic faith. Elizabeth herself was a moderate Protestant, and hersettlement excluded papal authority, and brought back the Book of Common Prayer. Thishowever did not recognize the demands of the extreme Puritans. During her reign a lot ofpressure continued, but she resisted. Eventually the Puritans were driven underground. One of her greatest fears was that an alliance of Catholic powers might force her out ofthe throne, and introduce again a Catholic monarch. Eventually Elizabeth send Englishforces to fight on the Protestant side: In the war of religion in France and the revolt of theDutch against Spanish rule. (Academic American Encyclopedia 141)The Spanish Armada was perhaps the greatest threat to Elizabeth. Intending this fleetto secure the deposition of Elizabeth in favor of himself, Philip II of Spain-Thus restoringCatholicism. The Naval battle in the English Channel devasted the Spanish flotilla. The use of the fire ships, English seaman ship and the Protestant Wind as theEnglish call it, were responsible for the English victory that turned out to be so famous. (Academic American Encyclopedia 142) Before the war, Queen Elizabeth made adramatic speech to her troops at Tulbury. She assured them that she had the heart andstomach of a king and she promised that we shall shortly have a famous victory overthese enemies of my God, my kingdom, and my people. She wore a gleaming silverarmor and a white velvet dress. She was not about to barricade herself into one of hercastles in this time of danger, but she was intending to show her country what a queencould be. The war was declared an English victory. Thus the defeat of the Armadastrengthened Elizabeths position as a figure of Protestantism. She was the one who inspite of everything, seemed invincible. (Bush 87-90)Queen Elizabeth was the most important patron of Elizabethan theater. Her influence was essential protecting the theatrical profession from puritan inspired prohibitions, and her court provided animportant source of income and prestige for leading London actingAccording to Boyce, Elizabe th was fond of William Shakespeares plays. She wasespecially pleased with Falstaff. She was so pleased that she commanded the play wrightto produce a play in which the fat knight falls in love; resulting in the play entitled TheMerry Wives of Windsor. Cranmers eulogy to Elizabeth in Henry VII, delivered by animportant English national hero, without a doubt reflects the nostalgia for her reign byEngland, a decade after her death. Elizabeths reign did not only influence theater, but itliterature as well as art and music(172)Elizabeth influenced the manner in which the court was programmed, mainlybecause of her personality. According to Rachum she had her way with people andpossessed a high sense of her own authority. She also knew how to take advantage of aparticular circumstance as a single women surrounded by men.(162) Court officials andguests frequently displayed coarse manners, even though 16th century court etiquette wascomplex and highly structured. The queen herself sometimes slapped her maids andoften swore; a habit that amused the retainers, and disgusted the clergy.(Bush 67) It wasmade clear through Elizabeth that she would not stand any disobedience, patterning herrule after her fathers model of absolute monarchy. Many people compared Elizabethsmethod of ruling like her fathers; but this did not discourage her.(Bush 37)Her prideful attitude perhaps influenced those that looked up to her or wereattracted to her. Elizabeths most famous qualities was her success in her policies, theglamour in her court and her longed preserved virginity. These qualities could of been theideal life style for those that idolized her.(Academic American Encyclopedia 141) Herphysical features(at that time)were outstanding, plus the fact that she was a proud womenemphasized these qualities even more. Elizabeth at twenty years of age, appeared to be inthe full bloom of her life. With a good figure, and her tall stature she moved with dignity. .ua9dd4dd96c72eaf4de839da07a94d732 , .ua9dd4dd96c72eaf4de839da07a94d732 .postImageUrl , .ua9dd4dd96c72eaf4de839da07a94d732 .centered-text-area { min-height: 80px; position: relative; } .ua9dd4dd96c72eaf4de839da07a94d732 , .ua9dd4dd96c72eaf4de839da07a94d732:hover , .ua9dd4dd96c72eaf4de839da07a94d732:visited , .ua9dd4dd96c72eaf4de839da07a94d732:active { border:0!important; } .ua9dd4dd96c72eaf4de839da07a94d732 .clearfix:after { content: ""; display: table; clear: both; } .ua9dd4dd96c72eaf4de839da07a94d732 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ua9dd4dd96c72eaf4de839da07a94d732:active , .ua9dd4dd96c72eaf4de839da07a94d732:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ua9dd4dd96c72eaf4de839da07a94d732 .centered-text-area { width: 100%; position: relative ; } .ua9dd4dd96c72eaf4de839da07a94d732 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ua9dd4dd96c72eaf4de839da07a94d732 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ua9dd4dd96c72eaf4de839da07a94d732 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ua9dd4dd96c72eaf4de839da07a94d732:hover .ctaButton { background-color: #34495E!important; } .ua9dd4dd96c72eaf4de839da07a94d732 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ua9dd4dd96c72eaf4de839da07a94d732 .ua9dd4dd96c72eaf4de839da07a94d732-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ua9dd4dd96c72eaf4de839da07a94d732:after { content: ""; display: block; clear: both; } READ: Its Illegal to be Homeless EssayShe had an olive complexion and reddish brown hair. Her fine eyes and long elegantHands were just another striking feature.(Zamoyska 19)Her marriage decision not only influenced all the men that wanted to marry her,but it also influenced what the whole country thought about her. the most important issue of her first years of government was the onethat consistently evaded, namely her marriagepublic opinion disliked the image of theVirgin Queen. If she were to get married her personal choice would of been the earl ofLeicesterafter him she had many favorites(Rachum 162)Although her decision was not to get married, it does not mean that she did nothave any lovers. One rumor of a lover, was a man by the name of Robert Dudley; whoshe appointed as her master of horse. It was no doubt that Elizabeth was attracted to hisenergy, skill at conversation and athletic prowess. The way he organized courtentertainment delighted her. Soon enough Elizabeths behavior became a scandal.(Bush41-42) Although she had other men in her life, she prided the fact that all her life she wasa virgin, and died a virgin.(Academic American Encyclopedia 142)Even though her days were shortened little by little, the dying queen was still aninfluence of hope to her country. To a world she helped shape, Elizabeth made herfarewells, to an England whose affection she was sure.(Bush 105) At the old age ofseventy it marked the end for of this queens life; at the old age which was very rare todie. Especially at the time where disease and primitive medical practices doomed manyto an early death. Elizabeth like her father was a firm believer in physical as well asintellectual exercise, which may of contributed to her remarkable life spand. According to an observer: Elizabeths funeral was never forgotten bythose that witnessed itsuch a general sighing, groaning, and weeping as that hath notseen or known in the memory of man.(Bush 107)The Elizabethan age is most often associated with Queen Elizabeth I, whoinfluenced England greatly. Her influence on literature, drama, theater, and as a greatpolitical figure who cleverly manipulated and retained power dispite the obstacles,deserves credit for the great achievements during her reign. Bibliography:Elizabeth I, Queen of England Academic American Encyclopedia, 1987Boyce,Charles. Shakespeare A to Z. New York: Charles Boyce Roundtable PressInc. 1990Bush,Catherine. Elizabeth I. New York: Chelsea House Educational communications,Inc.1986Rachum,Ilan. The Renaissance: An Illustrated Encyclopedia. New York City: MayFlower Books Inc. 1979Zamoyska, Betka. Queen Elizabeth I: United States of America: Cameron TayleurBooks Ltd. 1981

Managing an Umbrella Brand free essay sample

The brands had to be available in at least 15 of the countries studied; the same name had to be used in at least three product categories and meet franchise in at least three of the five geographical regions. In its home country Germany, too, many of Nivea’s products were the market leaders in their segments. This market leadership status translated into superior financial performance. Between 1991 and 2001, Nivea posted double-digit growth rates every year. For 2001, the brand generated revenues of â‚ ¬2. 5 billion, amounting to 55 per cent of the parent company’s (Beiersdoft) total revenue for the year. The 120-year-old, Hamburg-based Beiersdoft has often been credited with meticulously building the Nivea brand into the world’s number one personal care brand. According to a survey conducted by ACNielsen in the late 1990s, the brand had a 15 per cent share in the global skin care products market. While Nivea had always been the company’s star performer, the 1990s were a period of phenomenal growth for the brand. We will write a custom essay sample on Managing an Umbrella Brand or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page By successfully extending what was essentially a ‘one-product wonder’ into many different product categories, Beiersdoft had silenced many critics of its umbrella branding decision. The marketing game for Nivea Millions of customers across the world have been familiar with the Nivea brand since their childhood. The visual (colour and packaging) and physical attributes (feel, smell) of the product stayed on in their minds. According to analysts, this led to the formation of a complex emotional bond between customers and the brand, a bond that had strong positive under-tones. According to a superbrands. com. my article, Nivea’s blue colour denoted sympathy, harmony, friendship and loyalty. The white colour suggested external cleanliness as well as inner purity. Together, these colours gave Nivea the aura of an honest brand. To customers, Nivea was more than a skin care product. They associated Nivea with good health, graceful ageing and better living. The company’s association Nivea with many sporting events, fashion events and other lifestyle-related events gave the brand a long-lasting appeal. In 2001, Franziska Schmiedebach, Beiersdoft’s Corporate Vice President (Face Care and Cosmetics), commented that Nivea’s success over the decades was built on the following pillars: innovation, brand extension and globalization (see Table 4 for the brand’s sales growth from 1995-2002) Table 4 Nivea: worldwide sales growth (%) The first major extension was launch of ‘Nivea For Men’ aftershave in the 1970s. Unlike the other aftershaves available in market, which caused the skin to burn on application, Nivea For Men soothed the skin. As a result, the product became a runaway success. The positive experience with the aftershave extension inspired the company to further explore the possibilities of brand extensions. Moreover, Beiersdoft felt that Nivea’s unique identity, the values it represented (trustworthiness, simplicity, consistency, caring) could easily be used to make the transition to being an umbrella brand. The decision to diversify its product range was also believed to have influenced by intensifying competitive pressures. L’Oreal’s Plenitude range, Procter Gamble’s Oil of Olay range, Unilever’s Pond’s range, and Johnson Johnson’s Neutrogena range posed stiff competition to Nivea. Though Nivea was the undisputed market leader in the mass-market face cream segment worldwide, its share was below Oil of Olay’s, Pond’s and Plenitude’s in the US market. While most of the competing brands had a wide product portfolio, the Nivea range was rather limited. To position Nivea as a competitor in a larger number of segments, the decision to offer a wider range inevitable. Beiersdoft’s research centre—employing over 150 dermatological and cosmetics researchers, pharmacists and chemists—supported its thrust on innovations and brand extensions. During the 1990s, Beiersdoft launched many extensions, including men’s care products, deodorants (1991), Nivea Body (1995), and Nivea Soft (1997). Most of these brand extension decisions could be credited to Rolf Kunisch, who became Beiersdoft’s CEO in the early 1990s. Rolf Kunisch firmly believed in the company’s ‘twin strategy’ of extension and globalization. By the beginning of the twenty-first century, the Nivea umbrella brand offered over 300 products in 14 separate segments of the health and beauty market (see Table 5 and Figure 2 for information on Nivea’s brand extensions). Commenting on Beiersdoft’s belief in umbrella branding, Schmiedebach said, ‘Focusing your energy and investment on one umbrella brand has strong synergetic effects and helps build leading market positions across categories. A noteworthy aspect of the brand extension strategy was the company’s ability to successfully translate the ‘skin care’ attributes of the original Nivea cream to the entire gamut of products. Table 5 Nivea: brand portfolio CategoryProducts Nivea Bath CareShower gels, shower specialists, bath foams, bath specialists, soaps, kids’ products, intimate care Nivea Sun (sun care)Sun protectio n lotion, anti-ageing sun cream, sensitive sun lotion, sun-spray, children’s sun protection, deep tan, after tan, self –tan, Nivea baby sun protection Nivea Beaute (colour cosmetics)Face, eyes, lips, nails Nivea For Men (men’s care)Shaving, after shaving, face care, face cleansing Nivea Baby (baby care)Bottom cleansing, nappy rash protection, general cleansing, moisturizing, sun protection Nivea Body (body care)Essential line, performance line, pleasure line Nivea CremeNivea creme Nivea DeodorantsRoll-ons, sprays, pump sprays, sticks, creams, wipes, compact Nivea Hand (hand care)Hand care lotions and creams Nivea Lip CareBasic care, special care, cosmetic care, extra protection care Nivea Visage (face care)Daily cleaning, deep cleaning, facial masks (cleaning/care), make-up remover, active moisture care, advanced repair care, special care Nivea Vital (mature skin care)Basic face care, specific face care, face cleansing products, body care Nivea SoftNivea soft moisturizing cream Nivea Hair CareHair care (shampoos, rinse, treatment, sun); hair styling (hairspray and lacquer, styling foams and specials, gels and specials) Figure 2 Nivea Universe The company ensured that each of its products addressed a specific need of consumers. Products in all the 14 categories were developed after being evaluated on two parameters with respect to the Nivea mother brand. First, the new product had to be based on the qualities that the mother brand stood for and, second, it ha to offer benefits that were consistent with those that the mother brand offered. Once a new product cleared the above test, it was evaluated for its ability to meet consumer needs and its scope for proving itself to be a leader in the future. For instance, a Nivea shampoo not only had to clean hair, it also had to be milder and gentler than other shampoos in the same range. Beiersdoft developed a ‘Nivea Universe’ framework for streamlining and executing its brand extension efforts. This framework consisted of a central point, an inner circle of brands and an outer circle of brands (see Figure 2) The centre of the model housed the ‘mother brand’, which represented the core values of trustworthiness, honesty and reliability. While the brands in the inner circle were closely related to the core values of the Nivea brand, the brands in the outer circle were seen as extensions of these core values. The inner-circle brands strengthened the existing beliefs and values associated with the Nivea brand. The outer circle brands, however, sought to add new dimensions to the brand’s personality, thereby opening up avenues, for future growth. The ‘global-local’ strategy The Nivea brand retained its strong German heritage and was treated as a global brand for many decades. In the early days, local managers believed that the needs of customers from their countries were significantly different from those of customers in other countries. As a result, Beiersdoft was forced to offer different product formulations an packaging, and different types of advertising support. Consequently, it incurred high costs. It was only in the 1980s that Beiersdoft took a conscious decision to globalize the appeal of Nivea. The aim to achieve a common platform for the brand on a global scale and offer customers from different parts of the world a wider variety of product choices. This was radical departure from its earlier approach, in which product development and marketing efforts were largely focused on the German market. The new decision was not only expected to solve the problems of high costs, it was also expected to further build the core values of the brand. To globalize the brand, the company formulated strategies with the help of a team of ‘international’ experts with ‘local expertise’. This team developed new products for all the markets. Their responsibilities included, among others, deciding about the way in which international advertising campaigns should be adapted at the local level. The idea was to leave the execution of strategic decisions to local partners. However, Beiersdoft monitored the execution to ensure that it remained in line with the global strategic plan. This way, Beiersdoft ensured that the nuances of consumer behaviour at the local level understood and that their needs were addressed. Company sources claimed that by following the above approach, it was easy to transfer know-how between headquarters and the local offices. In addition, the motivation level of the local partners also remained on the higher side. The company established a set of guidelines that regulated how the marketing mix of a new product/brand was to be developed. These guidelines stipulated norms with respect to product, pricing, promotion, packaging and other related issues. For instance, a guideline regarding advertising read, ‘Nivea advertising is about skin care. It should be present visually and verbally. Nivea advertising is simple, it is unpretentious and human. ’ Thus all advertisements for any Nivea product depicted images related to ‘skin care’ and ‘unpretentious human life’ in one way or the other. The company consciously decided not to use supermodels to promote its products. The predominant colours in all campaigns remained blue and white. However, local issues were also kept in mind. For instance, in the Middle East, Nivea relied more on outdoor media as it worked out to be much more cost-effective. And since showing skin in the advertisements went against the region’s culture, the company devised ways of advertising skin without showing skin. Many brand management experts have spoken of the perils of umbrella management, such as brand dilution and the lack of ‘change’ for consumers. However, the umbrella branding strategy worked for Beiersdoft. In fact, the company’s growth was the most dynamic since its inception during 1990s—the decade when the brand extension move picked up momentum. The strong yearly growth during the 1990s and the quadrupling of sales were attributed by company sources to the thrust on brand extension. Questions: 1. Discuss the reasons for the success of the Nivea range of products across the world. Why did Beiersdoft decide to extend the brand to different product categories? In the light of Beiersdoft’s brand extension of Nivea, critically comment on the pros and cons of adopting an umbrella branding strategy. Compare the use of such a strategy with the use of an independent branding strategy. 2. According to you, what are the core values of the Nivea brand? What type of brand extension framework did Beiersdoft develop to ensure that these core values id not get diluted? Do you think the company was able to protect these core values? Why/why not? 3. What were the essential components of Beiersdoft’s global expansion strategy for Nivea? Under what circumstances would a ‘global-strategy-local execution’ approach be beneficial for a company? When and why should this approach be avoided?

Critical success factors of PM Essay Example

Critical success factors of PM Essay Example Critical success factors of PM Essay Critical success factors of PM Essay The articles focus Is limited to the European Funded projects in Bulgaria and he Authors believe that identifying the critical success factors of project management, significantly helps managers to gear the project focus In order to achieve the projects main goal within budget, resource and time. The article suggests selected core factors identified through empirical study of project success factors conducted by a sample survey of managers and experts from relevant organizations of projects supported by European programs. According to Mantilla and Allan, the previous researches on Identifying project success factors are traditional. This is because the researches narrowly focus on the effectiveness of project management tools used by project managers. Though proper utilization of these tools could contribute for the achievement of project goal, there are a wide range of project success factors that can potentially Influence the project success. Mantilla and Allan(2012). Mantilla and Allan postulate that the success of a project depends on the fulfillment of some factors which they call critical. They insist on the existence of major factors that are prerequisite for a project to attain Its goal. The concepts In the hypothesis sound clear as there are some widely accepted Independent factors that significantly influence (which can later be supported with academic findings in the area) the achievement of a projects intention. The authors didnt discuss how the absences of the given potential factors make a project fall. The hypothesis in this article Is also empirical. It Is supported by practical evidences that are found from 132 project managers and project team members. Regarding this point there are some limitations on the types of respondents which I raise later in the evaluation section. The hypothesis is limited both in geography and the type of project it deals with. The article focuses on projects funded by Operational Programs of the European Commission in Bulgaria. When it comes to the literature, Mantilla and liana have established a literature on identifying critical success factors of project management. The authors explain the absence of unified treatment and definition of the concept In the field though there Is a general agreement on the significance of sarong out critical success factors In the practice of project management. Mantilla and Allan (2012) provide pretty consolidated detail evidences on what is more important in project management. Its all about whether project stakeholders are testified by Its results. This is a widely accepted principle but the problem on this regard Is, the authors didnt specify the types of project as there are different types of projects with various range of goals. For instance, in general terms, the intentions of commercial projects and a relief project are not similar. The same is true to their scholars like, Dry. Rash and Dry. Mimed (2014) It is impossible to generate universal checklist for project success criteria suitable for all projects. Success criteria differ from project to project depending on various numbers of issues like size, uniqueness ND complexity In addition to this, client satisfaction is very hard to measure Paul and Derek (2008) different stakeholders sense and measure success in different ways with in a single project. Success is different for different stakeholders in a certain project. This is usually based on their contribution and expectation. Other literature supports are also discussed on the subject in relation to the existence of two major groups of project success factors which are stated as strategic and tactical. The strategic group includes project mission, top management support and project scheduling. The tactical aspect includes client consulting, human resource selection and personnel training. These factors affect project success at different stages of the project life cycle. To identify the critical success factors of project management, the authors conducted a survey where 132 project managers and members of projects have participated. They were selected as representatives of projects funded by CUE (European Commission). The sample of projects has been selected by a method of purposive sampling. The respondents have filled a questioner designed for the purpose of the study. The questioner was divided in to three main segments, questioner for project success measurement, for project execution and for the importance of critical success factors. The main focus of the article was the findings under the critical success factors. The respondents were given 15 potential factors and they were asked to identify the most critical Success factors based on their level of importance. The listed potential success factors were Competence of the manger, Support from the agency administering POP, Clarity of project goal, Top management support, Competence of project team members, Motivation of Project team members, effective communication between project stake older, quality of subcontractor service, precision in documenting and achieving of project information effective coordination of project activities, compliance with the rules and procedures established by the POP, Systematic control over the project execution, access to organizational resources, SMART planning, Competence and adequate support from a project consultant According to the authors the above lists were prepared based on literature review. Mantilla and Allan (2012). The final results of this study show the following five factors as the most critical success determinants: 1st Competence of project manager; Over 80% respondents indicated this factor as extremely important. 2nd Compliance with the rules and procedures; almost 80% of the respondents have evaluated this factor as extremely important. 3rd Competence of project team 66. 7% of the respondents have identified this as extremely important. In addition it this was identified as highly important by 30 % of the participants. 4th Quality of services provided by subcontractors 66. % of the representatives indicated this as extremely important 5th Support of the top management ; 64% of the respondents identified this as extremely important. When it comes to the appropriateness of the research technique and obtained result, the study relied on single respondent, project managers and experts. The number of the respondents may be representative, but they are all from one side of the project represents. Instead all duty bearers that contribute for a project success should have been included. For instance we cant see stakeholders views, end users (client) participation, and not even implementers Judgment. How can we measure a project success without observing and analyzing its impact on the end users? The other significant point is we have no idea whether the project managers are successful or not in the projects they have executed so far but they are still making decision on critical factors that make a project successful. Here the point is if in case they have failed to attain the intended goal of the project, how do we trust their Judgment alone on what makes a project successful? When it comes to the list of the given potential factors, they seem limited. Mantilla and Allan, present the above list of success factors to be made based on literature review; but they fail to provide list of adequate sources for that There are also some other factors that should have been considered such as donors interest and project environment (political and social). Timothy, Debbie and Chris (2014) highlight the existence of organized and fundamental success factors donors consider at each stage of the project phase. Sponsors are demanding in all stages. This sponsors behavior factors affect the project positively or negatively at planning, implementing, monitoring and closing stage with various degrees depending on sponsors interest. In their study on the advantages of best practices in project management, Livid. L, MME. C and loan. N 2010) emphasizes adopting best practices as a main factor that leads to successful project management. Through identifying and best practices, we develop international approach of labor, better process quality and better monitoring and controlling etc. Mantilla and Allan proved the above five factors to be very critical for a project to be successful, but there is no prove on how the absence of these factors can result in project failure. For instance according to Dry. Rash and Dry. Emends(2014) ,the failure of a management may not always bring about failure to a project and good project management does not always guarantee complete project success. It is possible to achieve a successful project even when management has failed and vice versa. In this review I have discussed Mantillas and Laminas article on Critical success factors of a project. The article covers several points on the existing approaches to project success.

Why have many governments found it necessary to regulate the terms, Essay

Why have many governments found it necessary to regulate the terms, conditions and processes in the sale of insurance and financial services products - Essay Example Insurance is one among the financial system. Insurance is a part of financial system. It takes care of the financial consequences of certain specific contingencies both in case of individuals and corporate bodies. The effect of the losses o financial system is not only negative but may be disastrous and catastrophic also. It may be at micro - level or macro - level. Insurance provides financial security wherever there is an insurance policy. In fact, insurance is legally compulsory. The insurance sector has weathered terrorist attacks of previously unknown magnitude; it has suffered from a severe drop in equity markets; it is going through a prolonged period of historically low interest rates and has even suffered from major credit defaults (Rossum, 2005). But it remains in good shape. The attack on the World Trade Centre is a good example in this context. Though past performance can be relied upon to decide whether regulation is necessary or not with respect to sale of insurance and financial service products, there are certain trends which support the need for regulation. They are - The regulation of the financial system can be viewed as a particularly important case of public control over the economy (Giorgio, 2004). A plethora of theoretical motivations support the opportunity of a particularly stringent regulation for banks and other financial intermediaries. Such motivations are based on the existence of particular forms of market failure in the credit and financial sectors. Regulatory Framework A regulatory framework is most essential in order to manage any financial system as a matter of fact ((ICMR), Financial Management for Managers, 2003). The governmental regulatory framework seeks to Define avenues of investment available to business enterprises in different categories, ownership-wise and size-wise; Induce investment along certain lines by providing incentives, concessions, and reliefs; and Specify the procedure for raising funds from the financial markets. Despite the existence and sale of numerous insurance policies that cover various contingencies, the economic reason for the regulation of the insurance is yet to be defined in the financial literature. There are many rigorous arguments in favour of the regulation of insurance companies, some of which are discussed as follows (Booth, Oct,2007). First and foremost, regulation can prevent the adverse affects of information asymmetries in markets for illiquid contracts. Secondly, regulation can be used to ensure that insurers commit to contracts. In the case of life insurers these contracts may be incomplete, and it may be difficult to determine the terms of the contracts objectively; this is particularly so with U.K. with-profit contracts, for example. As discussed in the initial paragraphs of this paper, the term 'financial system' traditionally includes banking, financial and insurance segments ((ICMR), Commercial Banking, 2003). A primary objective of financial market regulation is the pursuit of macroeconomic and microeconomic stability. Safeguarding the stability of the financial system translates into macro controls over the financial exchanges, clearing houses and securities settlement systems. Earlier, many academics and practitioners have argued that, there is a definite

Summary Research Paper Example | Topics and Well Written Essays - 250 words - 10

Summary - Research Paper Example During those days, Nike had taken a top-down approach to ensure that their products reach to the targeted people through the use of famous sports people and endorsements that were thought to influence their fans to start using the Nike products (Scott). A couple of years back, Nike started experiencing problems with the old marketing strategy of using celebrity sport people as they were subject to scandals that impacted poorly on the company’s sale. Hence, as a new marketing strategy, Nike company opted to go digital and invest heavily in marketing through social media as it involved more word of mouth together with marketing (Panos). Nike managed to create a fan base through a couple of social Medias and get followed who were constantly kept updated with the latest advancements in Nike products. Panos. "Why Nikes Buzz Marketing Strategy Is Riskier Than Red Bulls." 18 September 2012. Forbes.com. 23 April 2014

Divorce Rate Essay Example | Topics and Well Written Essays - 500 words

Divorce Rate - Essay Example If the custody battle occurred when the child is your research shows that by adolescence children begin to fanaticize that their parents get back together, often in a fairytale way and they all live happily ever after. The earlier abuse is minimized or not thought about. By adolescence these children show the same symptoms of divorce as other children experience, difficulty making decisions, difficulty in relationships, more susceptible to depression and higher degree of acting out including the use of alcohol and drugs (Johnson, 2004) From the parents perspective custody battles ensue for many reasons but most involve the inability to problem solve how to fulfill the child’s parenting needs from two locations. Every child, male or female, need two parents but to provide that parents must work together. One theory says one of the reasons parents can not work together is because they are taking out their anger toward the spouse in the custody battle. Another theory is that one parent feels they can not trust the other. This often occurs when on parent has been unfaithful in the marriage or has been neglectful in the marriage (Booth 2001). In any case a custody battle generally involved a failed attempt at mediation. It then moves into the legal realm which is likely to involve a custody evaluation of both parents either by a social worker, a guardian adlitum or a psychologist of all three. When everyone’s reports are finished, which can take months and involves multiple interviews with the children, family members and the parents and financial information is usually also included, the case is brought before a judge. The judge then hears from all the professionals involved, both parents and the children if they are old enough. The average contested hearing is from two to three days. At the present time, joint custody or 50/50 custody is the most common ruling( Amato & Sobolewski, 2001 & 2005). All of this has