Innovative Methods to Fund a Newly Set Up Business - Free Essay Example

Sample details Pages: 4 Words: 1212 Downloads: 1 Date added: 2017/06/26 Category Business Essay Type Narrative essay Did you like this example? BUSINESS FINANCE Innovative methods to fund a newly set up business Business Partner When you wish to start a business and you find yourself with not enough capital but are aware of someone who is interested in joining hands with you in your business, you can definitely opt for a business partner. A business partner will not just help in contributing to the capital but will also lend his hands for the functioning of the business. It is very important for the partners to have their goals aligned in the longer run. Don’t waste time! Our writers will create an original "Innovative Methods to Fund a Newly Set Up Business" essay for you Create order Venture Capital Venture capitalists invest in businesses with vast growth opportunities and they do so in the early stage of the business. Earlier venture capitalists used to receive a share in the business but now they demand debt financing and share in the business. Venture Capitalists function on the basis of making a couple of huge wins to cover up their ample failures. It is known that three forth of the businesses receiving funding in this method fail. Second Mortgage The following loans knock into the protected equity one may have in their home. One can calculate how much one can borrow for the second mortgage by considering the value of the home and subtracting it by yet to be paid mortgages. The interest rates are very low compared to other sources of funding. One must be cautious as there are instances where lenders only lend up to 75-85% of the real value of the home. These are also called as home equity lines of credit. Credit Cards Credit Cards are looked upon as a transitory measure between getting ones venture started and getting financing such as a loan. Credit Cards have very high interest rates which makes hardly possible for business to consider it as a long term capital. Credit Cards have mostly been used in the situations where the entrepreneur had no other alternative to get funding for his business. Even the founders of Goggle have funded their company with the help of a credit card in the mid 90s. My own uncle funded his textile business temporarily with a credit card when he had no other options. Family and Friends Lending money from your family and friends can be very risky when it comes to a startup. More than 40% of times people lending from family and friends have failed. Collecting funds from your family can make the situation more complex and ruin personal relations. But if you share a very comfortable relations with your peers it is not a bad option if your business becomes successful even family and friends benefit from it. One must always remember to draw documents before indulging in the type of funding method. Crowd funding Crowd funding allows the public to fund your projects using their own funds. One has to pitch in the idea that one wants to see funded. It is up to people if they like your idea or not and if they it is up to them on how much they want to invest. A lot crowd funding websites use reward base model where the investor reward as the product that they have invested in. This reward base model seems to changing to equity for reward. The popularity of crowd funding is increasing by the day and some of the crowd funding websites are Fundable and Kichstarter Product presales Selling your products is an often-overlooked and highly effective way to raise the money needed for financing your business. Entrepreneurs can raise funds with a pre sale of their products. The biggest challenge is in coordinating the inventory delivery times from the supplier so that we could start fulfilling orders. Another challenge is forecasting the number of units we can pre sell, resulting in a shortage. Entrepreneur Priska Diaz was able to raise $50,000 for her companyBittylabwith a presale of her Bare air-free baby bottles. Her presale efforts allowed her to drive website traffic, get additional social media followers, and offer discounts to customers. The money Diaz was able to raise helped her pay for inventory, and also helped to open some doors in retail and learn about her websites visitors. Though Diaz was able to benefit greatly from this means of financing, there were still some difficulties to overcome.  · Side business New business owners can try double-dipping as a means of funding their startup. Entrepreneur Alex Genadinik used his revenue from tours he organized on ComeHike.com to launchProblemio.com, which builds mobile apps for planning and starting a business. After receiving donations for some of the free hikes he led, Genadinik began to charge for events, where he marketed his new site to hikers. I tried everything else before that, including monetizing with ads and becoming an affiliate reseller for outdoor gear, but it didnt quite work, Genadinik said. This allowed me to work on my project without the distraction of looking for investors.  · Selling assets Sometimes, you may have a financing method and not even realize it at first. That was the case for entrepreneur Hamid Saify, who was able to fund his opinion-sharing community,ChoicePunch, by selling a car he had wanted to pass along to his children. Though it was a tough decision, Saify was able to make $30,000 from the sale of the car. That money, in turn, went toward some very important aspects of the fledgling startup. I used some of that money to help with the last payments to our design and development contractors, Saify said. The rest I put into our account and used to help support marketing during our beta launch months.  · Winning a contest Other times, businesses can benefit from a bit of luck. That was the case for Roberto Torres and Luis Montanez, who funded a portion of their startup costs for apparel companyBlack Denimwith winnings from abusiness-plancompetition. We utilized the funds to purchase manufacturing equipment that allowed us to scale our products and meet demand, the owners said. This advantage gave us the opportunity to increase our production and get into bigger players like Stein Mart and Walt Disney World. The competition also gave us access to business experts that asked us the tough questions while allowing us to retain our equity à ¢Ã¢â€š ¬Ã¢â‚¬  a perk that would have been very difficult to obtain otherwise.  · Renting out your home or apartment Cutting out liabilities is another creative way for new business owners to fund their startups. For Fay Johnson, founder and editor ofdeliberate LIFE, that meant renting out her apartment. Johnson was able to do this by placing her San Francisco apartment on Airbnb and renting it out for anywhere between five nights and a month at a time.The decision has been successful for Johnson, who has used the money raised to fund the costs of the first few issues of her magazine. Though the move has allowed Johnson to finance her startup, it has not come without its share of headaches, including tight time restraints. As an entrepreneur, time is one of your most valuable resources, Johnson said. When renting, I have to keep in mind that I need to clean and reclean the apartment, and since I work from home, I also have to find a place to work during those days. ARSH BHATIA 4BBA-B (HON) 1311706

A List of Programming Contests and Challenges

Link to C TutorialsLink to C TutorialsLink to C# Tutorials Not every programmer wishes to test his programming skills in a contest but occasionally I get a new challenge to stretch me. So here is a list of programming contests. Most are annual but some are continuous and you can enter at any time. The experience of stepping outside your programming comfort zone is entirely beneficial. Even if you dont win a prize, youll have thought in new ways and be inspired to have another go. Studying how others solved the problem can also be educational. There are many more contests than I have listed here but Ive winnowed these down to ten that anyone can enter. Most important of all you can use C, C or C# in these. Annual Contests International Conference on Functional Programming (ICFP). This has been running for a decade and happens in June or July each year. Though its based in Germany, anyone can enter using any programming language, from any location. Its free to enter and your team isnt limited by size. In 2010 its from June 18-21The BME International is an intense free to enter contest that takes place in Europe once a year for teams of three, and you have to bring your own computers and software. This year, the 7th took place in Budapest. This has had some interesting challenges in the past- how about driving a car over a virtual terrain? Other past tasks included controlling an oil-company, driving an assembly line robot and programming for secret communication. All programs were written in one 24 hour intense period!International Collegiate Programming Contest. One of the longest-running  Ã¢â‚¬â€ this started in 1970 at Texas AM and has been run by the ACM since 1989 and has IBMs involvement since 1997. One of the bigger contests it has thousands of teams from universities and colleges competing locally, regionally and ultimately in a world final. The contest pits teams of three university students against eight or more complex, real-world problems, with a gruelling five-hour deadline.The Obfuscated C contest has been running for nearly 20 years. This is done on the internet, with email submissions. All you have to do is write the most obscure or obfuscated Ansi C program in under 4096 characters length according to the rules. The 19th contest took place back in January/February 2007.The Loebner Prize is not a general programming contest but an AI challenge to enter a computer program that can do the Turing test, ie talk to a human sufficiently well to make the judges believe they are talking to a human. The Judge program, written in Perl will ask questions like What time is it?, or What is a hammer? as well as comparisons and memory. The prize for the best entrant is $2,000 and a Gold Medal.Similar to the Loebner Prize is the Chatterbox Challenge. This is to write the best chatter bot- a web-based (or downloadable) application written in any language that can carry on text conversations. If it has an animated display that syncs with text then that is even better- you get more points!International Problem Solving Contest (IPSC). This is more for fun, with teams of three entering via the web. There are 6 programming problems over a 5 hour period. Any programming language is allowed.The Rad Race - Competitors in teams of two have to complete a working business program using any language over two days. This is another contest where you have to bring along equipment, including a router, computer(s), cables, a printer etc. The next one will be in Hasselt, Belgium in October 2007.The ImagineCup - Students at school or college compete by writing software applicable to the set theme which for 2008 is Imagine a world where technology enables a sustainable envir onment. Entries started August 25th, 2007.ORTS Competition. ORTS (open real-time strategy game) is a programming environment for studying real-time AI problems such as path-finding, dealing with imperfect information, scheduling, and planning in the domain of RTS games. These games are fast-paced and very popular. Using the ORTS software once every year there is a series of battles to see whose AI is best.The International Obfuscated C Code Contest (abbreviated IOCCC) is a programming contest for the most creatively obfuscated C code. It started in 1984 and the 20th competition started in 2011. Entries are evaluated anonymously by a panel of judges. The judging process is documented in the competition guidelines and consists of elimination rounds. By tradition, no information is given about the total number of entries for each competition. Winning entries are awarded with a category, such as Worst Abuse of the C preprocessor or Most Erratic Behavior, and then announced on the offici al IOCCC website. Theres no prize except if your program is featured on the site then you won!Google Code Jam. Running since 2008, its open to anyone aged 13 or other, and you or a close relative dont work for Google or a subsidiary country and you dont live in a banned country: Quebec, Saudi Arabia, Cuba, Syria, Burma (Myanmar). (The contest is prohibited by law). Theres a qualification round and three other rounds and the top 25 travel to a Google office for the Grand Final. Continuous or Ongoing Contests Hutter Prize. If you can improve on the compression of 100 MB of Wikipedia data by 3% or better then you can win cash prizes. Currently, the smallest compression is 15,949,688. For every 1% reduction (minimum 3%) you win â‚ ¬500.Project Euler. This is an ongoing series of challenging mathematical/computer programming problems that will require more than just mathematical insights to solve. computationally the problems should be solvable in less than a minute. A typical problem is Find the first ten digits of the sum of one-hundred 50-digit numbers.Sphere Online Judge. Run at Gdansk University of Technology in Poland, they have regular programming contests - with over 125 completed. Solutions are submitted to an automatic online judge that can deal with C, C and C# 1.0 and many other languages.Intels Threading Programming Problems. Running from September 2007 until the end of September 2008 Intel have their own Programming Challenge with 12 programming tasks, one per month that can be solved by threading. You get awarded points for solving a problem, coding elegance, code execution timing, use of the Intel Threading Building Blocks and bonus points for posting in their problem set discussion forum. Any language but C is probably the preferred language.Codechef is Indias first, non-commercial, multi-platform online coding competition, with monthly contests in more than 35 different programming languages including C, C and C#. Winners of each contest get prizes, peer recognition and an invitation to compete at the CodeChef Cup, an annual live event. Annual Contests Hewlett Packard (HP) Codewars is for high school students and takes place every year on Hewlett-Packards Houston campus. its been run every year since 1999. Not only do students get the high-tech HP environment, a wide range of programming challenges, large amounts of good programmer food (pizza and caffeine), music, plus loads of giveaways. There are trophies for the top competitors in each of two classifications, plus loads of exciting door prizes like computers, scanners, printers, software, and accessories. This is the ultimate high school computer programming competition. Dont forget the About C, C and C# Programming challenges. No prizes but you get fame!

A Comparison of the Creation of Man in Various Schools of...

In the beginning, there was nothing. Then there was something. How this happened has long been a point of contention and has been widely regarded as one of the greatest mysteries of mankind. For as long as humans have stared into the inky blackness of the night, have they sought to find answers to this great question – how did we get here? The ancient tribal peoples of Israel believed that their God, Yahweh or Elohim, created the world in a period of just a few days, and created man to watch over his creation. They believed in a Creatio ex Nihilo (â€Å"creation out of nothing†), where one omnipotent being shaped the world and Man before setting them to their own devices . However, the ancient Greeks had a different creation myth. They believed†¦show more content†¦Soon, however, man grows lonely, so God creates for him a woman out of his rib . Upon laying eyes on God’s creation, Adam proclaims that she is perfect for him and names her Woman, for she was born of Man. So while these texts do contain some contradictions, many argue that they can easily be taken together as one overarching mythos. For instance, the first Chapter is often viewed as an overview of what happened, a synopsis of the entire mythology, whereas the second Chapter is viewed as an in-depth view of what had occurred. For instance, when it says that a great welling up occurred to water the plants, it refers to God’s creation of sprouting growth on day three in the first Chapter, and when it says that man and woman were created at once in the first Chapter, it is just stating that they were created at very nearly the same time. Even as some contradictions cannot be resolved, it is easy to dismiss them as mistranslations of literary liberties taken by the authors, and instead examine the overarching themes of the mythos. These constant themes are many, but a few of the important ones are: Gods creation of the universe from pure will, Gods personal creation of man, and How God concerns himself directly with his creation (in the early days). These themes are found in Genesis, but are notably absent from both Theogonic and Darwinian mythos. In the Theogony, the creation of man went very differently. Instead ofShow MoreRelatedComparison Of CS Lewiss Works and JK Rowlings Works1104 Words   |  5 Pagesfrom various perspectives, incorporating altruism; and this comparable adoration could be seen in Harrys love for his educator and companion, Albus Dumbledore, and additionally Dumbledore for Harry. Similarly in Narnia, we can see this same sort of affection in the Pevensie youngsters for one another, and the principal, in Aslans love for the kids and his Literary Works of Comparison 3 creation, theRead MoreThe Clock Building, Not Time Telling, By James C. 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Higher Education Reform Samples †MyAssignmenthelp.com

Question: Discuss about theHigher Education Reform Australia. Answer: Introduction Education is a process in which people are equipped with knowledge; it is a basic requirement for all economies. Education has a great influence on the nations economic performance. For instance it is the major factor behind the employment of workers in an economy; employment is done only to those who possess certain skill; those without are disregarded. Over the years, development were experienced until schools were established. The primary school education is basic to every Australian child; the Australian government has established many public schools to facilitate the accessibility of children to schools. It has also provided free primary education to ensure equality in the acquisition of education. The secondary schools is the subsequent stage followed by the tertiary education. After completion of secondary education, students proceed to the tertiary institutions where they specialize on the acquisition of specific skills. However, not many students have been able to join tertiary institutions; some of the factors limiting the entrance is poor secondary performance and the high fees payable in these institutions. The government has implemented some educational reforms with an objective to help most students to acquire tertiary education skills (Education.gov.au, 2017). Parents and students will require this information in getting awareness of how tertiary education could be achieved at the lowest cost. It will also help the government in budgeting for the funds set aside as a promoter to achieving higher education. Economic Analysis Zajda and Rust (2017) noted that globalization is a driver for higher education reforms. The access to tertiary education has been on a limited number of students. In order for the government to raise the number of students who join tertiary education, it has proposed reforms to cut the payable fees. According to Croucher (2017), the Higher Education Participation and Partnerships Program (HEPPP) is part of the ongoing legislating initiative reform with an objective of promoting equity and accessibility in universities. The government has always offered support in paying some proportion of the school fees the university students are required to pay; this was to help as many students to attain the higher education at a lower cost. However, the number of university enrolment in Australian universities have gone down and thus need for more reforms to stimulate the enrolment. According to Doyle (2017), the pre-budget announcement was made by Simon Birmingham the Australian education mini ster in 2017. It propose an increase in university fees by 1.8% per year for the period between 2018 and 2021. Bexley (2017) noted that in overall this increase will be 7.5% and will raise the students fees by $2,000 to $3,600 for the four year course. The concept of demand and supply is applicable in this case analysis; by paying a larger proportion of school fees for the student, the government is only able to support a limited number of students. The reform proposed is to lower the proportion of school fees payable by the government; the surplus after the reduction would be used to fund more students and the enrolment rate would rise. The proposal requires that the student will pay a higher school fees if passed. There however exist a challenge in implementing this reform since there are many parties that are against it. Most importantly, the university students are not willing to accept any increase in their school fees as a support to promoting the reform. The analysis from Deloitte shows that there has been a 9.5% increase in the cost of providing university education as from 2011 to 2015 (Croucher, 2017). If the funding by the government was cut, the amount of money expected to be relieved for other students as at 2019 is pr ojected to be $380 million. The speculation of fees increase due to the increased teaching costs is 25%, but the proposed reduction in governments funding is 20%. The proposal to cut the funding has been in place since 2014. The idea has been criticized since then and thats the major reason why it has not yet been implemented. Massaro (2016) forecasted a reduced proportion of government expenditure from 0.5 to 0.4% of its total GDP. The budget has been rising every year since 2002 and is projected to continue rising. Its not clear whether this reduction will improve the higher education. Hare (2017) noted that the cut in funding will be performance-based. Recommendations The government should raise its budget on education expenditure as it is an important component of economic growth. The government could also invest in improving the information asymmetry in the labor market. This would help in ensuring that the university graduates do not take long before getting a job. This would facilitate the fast payment of the higher education debts; when these debts are payable, they are made available for funding the enrollment of other students. The government should analyze the impact of this reform implementation on both the present and the future students. It should consider whether the reform would increase or reduce affordability. Some students may enroll and end up failing to complete their studies owing to the rising school fees. Conclusion The government pays a big proportion of the school fees payable to the public universities. This is a good step to promoting higher education. Nevertheless, the cost of education provision has gone up and thus a need to raise the school fees. The government is also concerned by the fact that enrollment in universities has been lower and need to be improved. However, the government is faced by a budget constraint in the stimulation of this enrollment. It therefore means that the governments budget on higher education is insufficient and need to be raised. It is not easy for this proposal reform to be passed it is being argued to create inefficiency. It is not clear whether the cutting of government funding will be able to boost the enrollment in universities since some people may decide to avoid the increased fees by failing to enroll. Some graduates take long before they land into their first job which delays the payment of their debt obligations. References Bexley, E. (2017). Higher education reform: small changes for now but big ones to come. [Online] The Conversation. Available at: https://theconversation.com/higher-education-reform-small-changes-for-now-but-big-ones-to-come-76978 [Accessed 13 Aug. 2017]. Croucher, G. (2017). 2017 higher education reform: cuts to universities, higher fees for students. [Online] The Conversation. Available at: https://theconversation.com/2017-higher-education-reform-cuts-to-universities-higher-fees-for-students-63185 [Accessed 13 Aug. 2017]. Doyle, J. (2017). Students set to face higher uni fees under Government shake-up. [Online] ABC News. Available at: https://www.abc.net.au/news/2017-05-01/university-fees-to-rise-in-federal-government-education-shake-up/8487564 [Accessed 13 Aug. 2017]. Education.gov.au. (2017). Higher Education Reform Package. [Online] Available at: https://www.education.gov.au/higher-education-reform-package-0 [Accessed 13 Aug. 2017]. Hare, J. (2017). Universities attack Birminghams higher education reform package. [Online] Theaustralian.com.au. Available at: https://www.theaustralian.com.au/higher-education/universities-attack-birminghams-higher-education-reform-package/news-story/614c9910b336ebefe31822265dda79fe [Accessed 13 Aug. 2017]. Hill, J. (2017). Australian Education Budget May 2017. [Online] Towards the Final Hour. Available at: https://towardsthefinalhour.com/2017/05/australian-education-budget-may-2017/ [Accessed 13 Aug. 2017]. Massaro, V. (2017). Higher education reform needs to have vision and be affordable. [Online] Theaustralian.com.au. Available at: https://www.theaustralian.com.au/higher-education/higher-education-reform-needs-to-have-vision-and-be-affordable/news-story/de4ecf1f9cee428d1591aa421fa897de [Accessed 13 Aug. 2017]. Zajda, J. and Rust, V. (2016). Globalization and higher education reforms. Switzerland: Springer.

Melbourne Football Club

Introduction and current marketing situation Background Melbourne Football Club (MFC/ The Demons) is in dire need of a reinvention. Public support is dwindling after mediocre performances in 2012 and 2013. The past football season has been particularly devastating after the team started by losing its first ten matches. The Demons ended the season at the second last position in 2013.Advertising We will write a custom report sample on Melbourne Football Club specifically for you for only $16.05 $11/page Learn More These poor performances elicited dramatic reactions from fans and opponents alike. In some instances, MFC was booed out of the stadium by its own members. In fact, internet blogs were buzzing with calls for resignation of top officials, coaches, players or redesigns of the entire team. The organisation responded by sucking its coach in the middle of the season and getting an interim one. However, this action did not seem to overturn the Demonsâ⠂¬â„¢ poor fortunes. Now, morale is at an all-time low within the team. Members and supporters of the players want to see an overhaul of the operation and management of the Club. Some of the loyal fans have left the team because they see no hope for the future. There is no shortage of strategies and possibilities that MFC can use to get back on its feet. In the past, the organisation has always relied on media reports to inform the public about their strategies. This has put them in a position where they cannot control what is being said and how it is reported. Some of these media reports have been less than flattering as they already have a bias against MFC. What the club needs is a report about the reengineering of the institution from their side, conveying their own point of view. Rationale The Demons need to rebuild their brand by making changes to the club and marketing these changes to the public. It is likely that this may increase support from former supporters who felt disa ppointed by the team’s performance and left the club. The goal of this marketing campaign is to restore membership to its original peak numbers. Melbourne Football Club has historically enjoyed a lot of support from people who have been with it for a long time. However, the club’s poor choices have caused a lot of attrition thus leading to diminishing memberships. It is necessary to get back these individuals who had seen the potential of the club and the advantages that it has over others. Getting back former supporters is much easier than reaching out to new consumers at a time like this. Few reasons exist to lure members back, so a marketing campaign is the only way that the club can achieve this feat. By showing its rebuilding efforts, MFC can prove to supporters that there is hope. This may ignite old passions over the team and thus lead to membership restoration.Advertising Looking for report on business economics? Let's see if we can help you! Get your fir st paper with 15% OFF Learn More Scope of the plan This marketing campaign is a combination of strategy and promotion. It will revolve around the rebuilding efforts of the organisation. All the changes made during the preparation for the next season will be documented, announced and distributed to media houses around the country. It will thus involve sending to potential members and current members information about new developments in the club. In order to achieve this, the company will start by looking at its records in the peak year of 2011, where its membership base was at its highest. It will then establish a database that contains names of those who defected from the club since that time. The organisation will then send them video updates and information about strategic or operational alterations. It will give the consumers offers on DVDs and inform them about how to renew their membership. The plan also involves working with current members of the team to solidify th eir support. This will be achieved through social media and the company website. They will have access to promotional videos on these strategic changes and opportunities to purchase DVDs. The DVDs will contain 2013 season highlights for the Demons. It will remind members that they have a reason to support the team and should thus stay with MFC. A total of AUD 22,000 will be needed for this entire campaign. Analysis and SWOT Porter’s five forces One can argue that supplier power is moderate. First, clubs can switch from supplier to supplier at relatively low costs. Therefore, more power lies in the hands of Melbourne Football Club with regard to this parameter. Volume matters a great deal to suppliers who prefer to have huge concessions. Most clubs can offer such orders but they are only eighteen in number. On the other hand, it is difficult to substitute inputs for most sporting memorabilia or merchandising products. Therefore, this gives suppliers a slight reprieve from domi nation by clubs. Several barriers to entry exist within the Australian Rules Football industry. First, a club’s success will depend on the strength of its brand. It takes decades to build a strong reputation, so new entrants may not find it easy to compete. Likewise, because it is also difficult to change a club by either merging or selling oneself to another one, then new entrants may be discouraged from entering the market. Furthermore, one must invest a substantial amount of capital to start a club. It will require a lot of financial commitment from the owners to keep the institution running. This is a great deterrent to potential entrants. Nonetheless, some players may be attracted to the relatively high economies of scale that exist within the company.Advertising We will write a custom report sample on Melbourne Football Club specifically for you for only $16.05 $11/page Learn More The threat of substitutes is something worth considering wit hin this industry. It is easy to switch to other types of sports like Rugby and cricket. These three games have been competing against each other for a relatively long time. Nonetheless, some consumers are die-hard Australian Rules football fans so they are not likely to substitute the game for another. Increased sponsorships and marketing campaigns for the top three games could threaten the exclusivity of Australian Football (Morgan 2012). Clubs in the industry have a high degree of rivalry. This has emanated from the very low levels of industry growth as well as the relatively low product differentials offered by most clubs. It is always easier to enjoy market domination when an industry is growing. When it reaches and surpasses its peak, then players must struggle to differentiate themselves. Nonetheless, one may argue that the high brand identity that most teams enjoy prevents fans or members from leaving them at will. Furthermore, the diversity of each of the clubs makes each c lub unique in its own way. Most individuals choose to remain loyal to a team owing to their geographical and family background. This moderates the degree of competition to a certain extent. It is the relative degree of rivalry between clubs that sometimes leads to cases of misconduct. Some instances of doping have been reported as well as match fixing or ‘tanking’. This unethical behaviour often comes about when teams are under excessive pressure to perform. Such is the case with Australian Rules football clubs. The organisation under discussion – MFC – was recently questioned for its role in match fixing. It was accused of deliberately playing poorly in order to ensure priority picks in the next seasons. Investigations revealed that the club had not done this knowingly but that its administrators had alluded to the importance of getting priority picks. As such, MFC had to pay fines for engaging in the same. This tarnished its name and put into question th e feasibility of the brand in the future (Browne 2013). One can state that an average level of buyer power prevails in the Australian Rules football industry as factors that increase buyer power are equally neutralised by those that reduce it. For instance, since brand identity and loyalty is quite strong, individuals find it difficult to simply leave a club. On the other hand, they are well informed and demand for more effort from their clubs.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Many buyers are not sensitive to price and will be willing to pay slightly more for their team’s products. In this regard, product differentiation mitigates buyer power substantially. Buyers have a series of options from where they can select their dose of sporting action, so this increases their bargaining power. The number of buyers that exist in the country for Australian Football is relatively high, and this minimises their influence as it gives the few sporting suppliers a greater say. Overview of current product and service Melbourne Football Club is one of the eighteen clubs managed by the national Australian rules football body – the AFL (Australian Football League). This organisation offers members an opportunity to enjoy watching their favourite players competing in live matches. For this service, individuals have to pay for tickets on match day. The organisation has also entered into partnerships with broadcasting houses such that their matches can be aired live across the nation. It also works within the media industry to furnish consumers with adequate information about the club. Sometimes this may occur through the internet or even manually. The club, like many other sporting organisations, offers merchandising services. One can purchase DVDs, t-shirts and wall papers that relate to the institution. They also use technology to access their fans. There are mobile phone alerts, pictures and other applications that users may purchase from MFC. The company allows individuals to purchase membership for the team so as to enjoy certain privileges of belonging to the team. This club woks hand in hand with corporate and private sponsors to manage and develop the game. They also do auctions of their memorabilia (Ken 1995). Since Melbourne Football Club falls under the AFL, they have come to depend on support from the latter entity. In situations where the company is in serious debt or requires support to stay afloat, then the national governi ng body may step in to support them. However, such a relationship is contingent upon the club’s ability to follow the AFL’s conditions. Therefore, financial independence is critical to success in Australian Rules football, especially for Melbourne Football Club. Competitor analysis Currently, all the teams in Australia Football may be regarded as competitive rivals for MFC. As of September 2013, the organisation was ranked 17th out of 18 in the Australian Football League. This was an all time low that the club had reached since the turn of the century. In the previous year, the company was position 16 – a spot that it had held twice in 2008 and 2009. Clearly, the club has been suffering from a losing streak that is not just costing the company its huge fan base, but could also push it into oblivion. Calls for the disbandment and relocation of MFC have been rife throughout the 2013 football season (Adam 2013). Therefore, this organisation is in dire need of a res tructure if it hopes to remain relevant in Australian Rules Football today. Competition for the organisation stems from all corners. First, it comes from individuals from Melbourne. Part of the reason why the club has enjoyed such huge and strong patronage is its geographical location. However, other clubs that exist in the same region like North Melbourne, Richmond, St. Kilda and Western Bulldogs could play the same role. Their performance is more impressive than Melbourne Football Club and this could exert a huge strain on the team. Melbourne also takes pride in the fact that it is one of the founding organisations in the sport. Clubs like Essendon and Carlton could also boast of this trait thus making them a force to reckon with in the future. They have been in existence since 1897 and participated in the premiership season just like MFC did (Borland and McDonald 2004). In essence, the club has lost to almost all clubs in the competition. In 2011, it lost to Hawthorn, Geelong, an d others. During the next year, MFC lost to nine teams. In 2013, it hit an all-time low when it lost to Port Adelaide, Gold Coast Suns, Greater Western Sydney and several others. This is indicative of the mediocrity that the team has displayed over this last season. Some sports critics claim that the level of play for the club has deteriorated to such an extreme level that the team does not deserve to participate in professional competition. Other clubs like Port Adelaide did relatively poorly in competitions over the past few years. However, their administrators dealt with the problem by changing their sponsors, increasing their membership base as well as finding a new president and coach. In essence, this club reinvented itself, and has shown dramatic improvements over the 2013 football seasons. Therefore, a team such as this one is a force to reckon with for a club like MFC. Currently, MFC’s rivals are all the low ranked teams in the competition. The team now focuses on be ating the bottom five clubs and will then work its way upwards in subsequent years. SWOT table Strengths A strong brand identity across the country Loyal supporters who stuck with the team in 2013 Renowned players that have demonstrated their prowess in the past Eliminated ineffective coaches and staff Garnered financial support from the AFL Weaknesses Has been on a losing streak for almost a decade, with the worst performance in 2013 Team members lack morale and seem to be under exploiting their potential Poor financial management Loss of support from typical members Accused of match-fixing (tanking) Damaged brand name Few coaches and players want to join MFC Opportunities New coaches and administrators could fill the vacuum in the club Their losses could be used as the starting point for a turnaround Marketing these rebuilding efforts could trigger support from former members Retired Australian football players with high fitness levels can rejoin the team Threats Co ntinued losses could result in even lower levels of support The AFL could call for the disbandment of the club or a merger with another team Members could permamnently switch to other Melbourne-based teams Managerial and administrative changes might not garner public support Objectives The key objective of this marketing plan is to increase the membership base of the club from 33, 177 to 37,000. The Club’s highest membership base is 36,937. Therefore, this new target is just 63 members shy of the 2011 figures. In order to achieve this, the organisation needs to meet these specific objectives Establish the number of former members that have defected from the club Furnish both new and old members about new changes in the club’s management within the next year Sell sporting merchandise (DVDs ) to inspire former members to rejoin the club. Marketing strategy This marketing plan will target the former defectors of MFC. It will also seek to solidify support from the c ore club supporters who are still with the team. Since the group performed poorly in 2013, there is the danger that some of the existing members may choose to defect to another club. Therefore, the organisation ought to encourage or continue supporting the team. A database already exists on the current and former members of the institution. This target market was chosen because of the special circumstances under which Melbourne Football Club is operating. They are at an all-time low with regard to performance and would find it particularly difficult to recruit new members. Usually, Australian Football clubs experience surges in memberships when they are doing well. However, when the results are dismal, then the opposite is true. It would be unrealistic to increase membership during such an implosion. Nonetheless, when persons who have pulled out learn that the club that they supported before is doing a lot to revamp its image, then they could come back. The main aim of this campaign is to create a relationship with the consumers within the marketplace. MFC will establish a link with the former members of the club by a series of personal relationships strategies. Since the organisation already has their contact details, it will use these to regularly update them about new developments in the team. For instance, when it changes its players, it will give these target audience a chance to access the information accordingly. Further, it will also sell to them merchandise at exclusive prices for which other interested parties would have to pay substantially. P’s of sport marketing Product The product under sale in this plan is the rebuilding of the club (Beech and Chadwick 2004). MFC will sell these efforts through media channels as well as personal contacts. It is hoped that customers will associate these efforts with potential improvements on the field during the next season. Potential customers will demonstrate their commitment by renewing their membership after the marketing campaign. Additionally, the marketing plan will also be selling some sports merchandise that highlights the potential and actual achievements of the club. There will be DVDs that contain season highlights in 2013. Although these highlights will be few and far between, they will remind former players about the stars that exist in the team. They are also likely to elicit a feeling of pride and nostalgia. These DVDs will be available to the target audience at a bonus price. Former members will also get short videos on some of the changes that have taken place within the club. Price Since the club will be selling something intangible, like their rebranding efforts, then this is best associated with the brand name. Membership prices will still remain at the same price as 2013. Individuals will need to see something predictable when they come back to the team, and finding the same prices as before will encourage them to join. The DVDs will be available to these indivi duals at a reduced price of AUD 10. They will be informed about this exclusive price in order to ensure their participation. Distribution Membership can be purchased online as had been previously done. Since several MFC fans are digitized, this will be an effective way of getting to them. Additionally, they can buy the DVDs using the same platform. The material will be shipped to them upon purchasing it. The DVDs will also be available in the company’s premises. Promotion This will form the bulk of the marketing plan. Most of the information concerning the new developments in the team will be sent directly to the former members of the club. Their contact details will be obtained through the company website. Thereafter, they will learn about these changes through short videos that document the club’s journey. They will get emails concerning the efforts that the organisation is putting in restoring its name. Furthermore, they will be regularly updated, via email, on upco ming events in the team. Information about the DVDs containing the season highlights will also be sent to these individuals. Personal relationship marketing will be the key driver behind success of the club. Aside from email contacts, the rebuilding efforts will also be marketed through traditional media. The club will take a proactive stance by approaching the leading sports brands in the organisation and furnishing them with information about some of the changes they have made. It will not wait for sports journalists to pay them a visit. Instead, the club will take the opportunity to control the public’s perception of it through its own initiatives. The team will work with radio, television and sports magazines to update them on their progress. If MFC sends away players and hires new ones, it will give its angle on this and explain it thoroughly to news outlets before they approach the institution. This will help to give their perspective on the developments in the company. Perhaps one of the most effective channels of conducting relationship marketing is social media. The club will increase its engagement with the public on social media. It will respond to questions that individuals have on a regular basis and also furnish them with new updates about the club. Social media will contain links that direct visitors to the company websites. Here, they will find teasers or short clips on videos that they can find on the same. They will also learn about how they can get the documentaries from the organisation. The idea is to increase the number of updates on social media so as to match members’ need for more news. Some of the ways in which the company will work on boosting its social media strategy is by making the page more colourful. It needs to show people how motivated the company is to become better. Individuals also get access to training sessions and other team efforts that the company is doing through this page. Every person who likes the pa ge will be given information on these changes. Additionally, some of the promotional merchandise will be available to those who use the platform. Action Progress The current plan will last for a period of six months. The idea is to get people to support the team independent of their performance outside the pitch. The campaign will start on the 12th of September 2013 and end on the 12th of March 2014. All members of the team will be involved in the process. However, a greater emphasis will be given to the marketing team. In the first week of the marketing campaign, the organisation will establish the names, contacts and location of the people who defected from the club. It will thus use this as a starting point. IT personnel within the company will be responsible for this parameter. As stated earlier, the success of the marketing campaign is contingent upon the type of strategy adopted by the company. It is necessary for all the concerned stakeholders to start working on a rebuilding program. People who will be involved include the board, which will make decisions on who their president and senior leaders will be. The senior executives will also be responsible for the dramatic changes that will form the core of all marketing communications. There is no schedule for these individuals as they will commence their activities at the beginning and end them in March 2014. After the first week of determining who the defecting members are, the marketing team will select a media team to create a series of videos or documentaries that will contain all the latest happenings in the club. The fist video will be created on the 25th of September and the media team will continue releasing such videos on a bi-weekly basis. At this point, the marketing team will step in order to determine where to distribute or sell the material. They will work simultaneously with IT professionals in order to upload it on the company website. Marketers will mail them to all the identified defecto rs. They will ensure that individuals give them permission to communicate with them in order to minimise privacy infringement. One month after the commencement of the campaign; that is on the 12th of October, the media team will compile MFC highlights from the latest seasons. This process will involve examining footages of all the matches and showing instances where the club took control of the game. Sometimes this may involve matches that the team lost, but those moments will still be worthwhile. Information about the availability and sale of this product will be available on the company website, email and social networks on the next day, after the release of the product. This will also be the responsibility of the marketing team. As other events unfold, the media team will keep compiling these highlights and placing them on the selected platforms. Media communications between MFC and traditional media outlets like radio and television will also be covered by the organisation. Thes e communications will depend on the degree of change in the company. As soon as they take place, the media team will make a report on the same through a video as well as through written formats. They will then edit this information within a day in order to portray the organisation in a positive light. All the material will be sent to television and radio companies simultaneously. Four radio and television stations will be involved. Budget Items Cost (A$) IT management of information 1,500 DVD compilation and making copies 5,000 Video documentary 2,500 Television 10,000 Radio 3,000 22,000 Measurement The key objective of the marketing campaign is to increase the membership base to 37, 000. If the organisation will be able to reach this level, then the marketing campaign will have succeeded. However, one must note that it is not always possible to reach target levels. Therefore, the organisation must be open to falling short in this area. It will allow for a shortfa ll margin of 10%. Additionally, the company will measure the success of its campaign by the number of responses it obtains from social media. Since one cannot measure the number of people who intend to leave but chose not to, a good indicator of success would be the feedback obtained from people. If the number positive responses from existing members increase, even by a small level, then the campaign will have succeeded. References Adam, P 2013, Every day is like a Sunday, http://mfcdemonblog.blogspot.com/2013/09/the-call-of-void.html Beech, J and Chadwick, S 2004, The business of sport management, Prentice Hall, London. Borland, J and McDonald, R 2004, Professional sports competitions in Australia, Praeger, Westport, Connecticut. Browne, A 2013, From priority picks to claims of ‘tanking’, how it got to this, https://www.afl.com.au/news/2013-02-19/how-it-got-to-this Ken, P 1995, The complete guide to Australian Football, Pan Macmillan, Victoria. Morgan R 2012, Cricket a nd AFL dominate sports watched on TV. Web. This report on Melbourne Football Club was written and submitted by user Zayden Tyson to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Periodical Essay Definition and Examples

Periodical Essay Definition and Examples A periodical essay is an essay (that is, a short work of nonfiction) published in a magazine or journalin particular, an essay that appears as part of a series. The 18th century is considered the great age of the periodical essay in English. Notable periodical essayists of the 18th century include Joseph Addison, Richard Steele, Samuel Johnson, and Oliver Goldsmith. Observations on the Periodical Essay The periodical essay in Samuel Johnsons view presented general knowledge appropriate for circulation in common talk. This accomplishment had only rarely been achieved in an earlier time and now was to contribute to political harmony by introducing subjects to which faction had produced no diversity of sentiment such as literature, morality and family life.  (Marvin B. Becker, The Emergence of Civil Society in the Eighteenth Century. Indiana University Press, 1994) The Expanded Reading Public and the Rise of the Periodical Essay The largely middle-class readership did not require a university education to get through the contents of  periodicals and pamphlets written in a middle style and offering instruction to people with rising social expectations. Early eighteenth-century publishers and editors recognized the existence of such an audience and found the means for satisfying its taste. . . . [A] host of periodical writers, Addison and Sir Richard Steele outstanding among them, shaped their styles and contents to satisfy these readers tastes and interests. Magazinesthose medleys of borrowed and original material and open-invitations to reader participation in publicationstruck what modern critics would term a distinctly middlebrow note in literature.The most pronounced features of the magazine were its brevity of individual items and the variety of its contents. Consequently, the essay played a significant role in such periodicals, presenting commentary on politics, religion, and social matters among its many topics.  (Robert Donald Spector, Samuel Johnson and the Essay. Greenwood, 1997) Characteristics of the 18th-Century Periodical Essay The formal properties of the periodical essay were largely defined through the practice of Joseph Addison and Steele in their two most widely read series, the Tatler (1709-1711) and the Spectator (1711-1712; 1714). Many characteristics of these two papersthe fictitious nominal proprietor, the group of fictitious contributors who offer advice and observations from their special viewpoints, the miscellaneous and constantly changing fields of discourse, the use of exemplary character sketches, letters to the editor from fictitious correspondents, and various other typical featuresexisted before Addison and Steele set to work, but these two wrote with such effectiveness and cultivated such attention in their readers that the writing in the Tatler and Spectator served as the models for periodical writing in the next seven or eight decades.  (James R. Kuist, Periodical Essay. The Encyclopedia of the Essay, edited by Tracy Chevalier. Fitzroy Dearborn, 1997) The Evolution of the Periodical Essay in the 19th Century By 1800 the single-essay periodical had virtually disappeared, replaced by the serial essay published in magazines and journals. Yet in many respects, the work of the early-19th-century familiar essayists reinvigorated the Addisonian essay tradition, though emphasizing eclecticism, flexibility, and experientiality. Charles Lamb, in his serial Essays of Elia (published in the London Magazine during the 1820s), intensified the self-expressiveness of the experientialist essayistic voice. Thomas De Quinceys periodical essays blended autobiography and literary criticism, and William Hazlitt sought in his periodical essays to combine the literary and the conversational.  (Kathryn Shevelow, Essay. Britain in the Hanoverian Age, 1714-1837, ed. by Gerald Newman and Leslie Ellen Brown. Taylor Francis, 1997) Columnists and Contemporary Periodical Essays Writers of the popular periodical essay have in common both brevity and regularity; their essays are generally intended to fill a specific space in their publications, be it so many column inches on a feature or op-ed page or a page or two in a predictable location in a magazine. Unlike freelance essayists who can shape the article to serve the subject matter, the columnist more often shapes the subject matter to fit the restrictions of the column. In some ways this is inhibiting because it forces the writer to limit and omit material; in other ways, it is liberating, because it frees the writer from the need to worry about finding a form and lets him or her concentrate on the development of ideas.  (Robert L. Root, Jr., Working at Writing: Columnists and Critics Composing. SIU Press, 1991)

8 keys Research Paper Example | Topics and Well Written Essays - 500 words

8 keys - Research Paper Example The arrow pointing upwards represents the market direction while the horizontal arrow is the product. The company needs to make development strategies by using the internet and targeting geographic markets and customer segments that are new. The company can enhance its service delivery by recruiting more skilled personnel and trying to work on reducing the process of their products slightly in order to ensure that it attracts more customers into their products. The management can also think about incentives that are attractive to loyal customers and make proper product promotion. The company can also decide to reduce or cut out some intermediaries in the chain of supply in order to ensure that the structure of their business is conducive and in line with the market place. However, they can also weigh and see if they can consider reintermediation to enhance the chain of supply of their products in some areas. I would suggest that the company decides on countermediation to have a position of enhancing their operation when it comes to e-business. The company has to come up with a mechanism of ensuring that knowledge sharing systems are installed in their appropriate positions and are functioning at all times. Internet connected computers, phones and bells must be installed at every desk and room where operation takes place. Employees must also work according to their qualifications and areas of expertise to ensure that there is free flow of relevant information and perfect instruction following. The management of the company plans for staff meetings three times in a week or any other time that need arises. It is significant to deduce a way of emphasizing the company’s strengths and ensuring that weaknesses are minimized in order to ensure that there is a future in the flow of the entire system. For instance, the company needs to maintain the quality of its products, keep on motivating its workers and staff for