Factors influencing successful buyerâ€seller relationships

Purpose of the article Understanding the factors that influence the relationship between the buyer and the seller is of great importance in developing and maintaining such a relationship. Previous research has identified these factors but the relative importance of the factors had not been determined empirically.Advertising We will write a custom essay sample on Factors influencing successful buyer–seller relationships specifically for you for only $16.05 $11/page Learn More The article reports the research by Powers and Reagan, where the factors that have overall importance to a buyer-seller relationship are determined and the most important factors at different stages of the relationship are also determined. Concepts employed in the research The buyer-seller relationship considered in the research is a long-term non-contractual relationship and the stages analyzed are partner selection, defining purpose, setting relationship boundaries, creating relationship value and relationship maintenance. Partner selection is the first stage in the relationship and it involves the firm becoming aware of potential partners and ultimately selecting the appropriate one. The defining purpose stage involves the parties defining the purpose of the relationship and clarifying their mutual goals. In the setting boundaries stage, the partners become increasing interdependent on each other’s resources and benefits. The next stage is creating relationship value where the competitive advantage of either one or more of the partners is improved as a result of being in the relationship. Finally, the relationship maintenance is the stage where the partners have probably acquired enough satisfaction such that they are willing to maintain the relationship. From previous research, the following factors were determined to influence the relationship between a buyer and a seller: reputation, performance satisfaction, trust, social bonds (mutual frie ndship and liking between the buyer and seller), and mutual goals.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Others are power/interdependence, technology, non-retrievable investments, adaptation (where one partner adapts its processes to accommodate the other partner), commitment, structural bonds, cooperation, and comparison level of the alternative. In this research, the researchers hypothesized that the influence of these factors may be of greatest importance at one or more of the buyer-seller relationship stages or the importance may be equal across all the stages. These hypotheses were tested against empirical data obtained from surveys mailed to purchasing managers. Results The results showed clear difference between the overall importance of the relationship factors with mutual goals being the most important and social bonds the least important. In the importance of the factors at different relationship stages, partner selection had mutual goals and adaptation being the most important. In defining relationship purpose stage, cooperation was the most important factor and setting relationship boundaries had mutual goals and trust as the most important factors. Adaptation was the most important factor in stage four (creating relationship value) and together with mutual goals, they were most important in relationship maintenance stage. In general, most relationship factors were found to be of importance during the later stages of the buyer-seller relationship. Reasons for choosing this article To develop a competitive advantage over other competitors, a firm must have a successful buyer-seller relationship. In doing this, the responsible manager must understand the factors that influence their company’s relationship with its partners. This article reviews these factors and therefore provides more information to managers engaged in developing and/or mai ntaining such a relationship. Buyer-seller relationship is a complex issue and involves several stages. At the different stages, the partners involved have different sources of satisfaction and therefore it is important to understand these stages. The way partners derive satisfaction from every stage should also be considered.Advertising We will write a custom essay sample on Factors influencing successful buyer–seller relationships specifically for you for only $16.05 $11/page Learn More Previous research had not provided conclusive information on this. On the other hand, the research work reported in this article determines the important factors in each stage of the relationship and on the overall buyer-seller relationship as well as providing empirical evidence to prove its hypotheses Questions arising from the article The researchers in this article had an objective of empirically proving that relationship factors have varying importance at t he various stages of the buyer-seller relationship. However, the views represented are from a buyer point of view only. Someone using the information may wonder, what about the point of view of the sellers? Therefore, before concluding on the importance of the factors, it is important to take into consideration the points of view of the two parties. In most cases, firms are involved in buyer-seller relationship with other firms as well as non-corporate individuals like final consumers. The article is more inclined towards firm-firm relationship and mentions nothing about the relationship a firm may have with non-corporate bodies. Conclusion From a buyer point of view, the relationship with a seller is a stepwise process and different factors influence the relationship at the different stages. Managers should focus efforts on the most important factors depending on the stage of the relationship since focusing on all the factors has no enhancing results on the relationship. Some facto rs have very low significance on the relationship and therefore require minimal consideration. The research reported in the article shows that more work is needed to fully understand the factors influencing buyer-seller relationship. This essay on Factors influencing successful buyer–seller relationships was written and submitted by user Brecken Kent 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.

Free Essays on Shepherd Kretch

Shepherd Kretch begins his novel with a very striking image which we all probably remember: who could forget the face of â€Å"the Crying Indian†? Kretch goes from this to explain that this add states that the Indian does not pollute, as his white counterparts do, and therefore â€Å"the white destroy[s] his land. He destroy[ed] planet earth† (Quoted in Kretch, 22), and Indians have this â€Å"noble image†. Ah,,the noble savage strikes again. Kretch explains both the noble savage and the ignoble savage and talks about the past and how people have revered Indians as â€Å"carefree, eloquent people living innocent, naked lives in a golden world of nature† (Kretch, 17), and consequently, the opposite on how they were bloodthirsty savages. He also touches on the French authors Rousseau and Montaigne, as we have read about previously, and their half-witted, daydream version on Native Americans. Kretch’s â€Å"Ecological Indian† is the Indian that we all know from the movies, television, on book covers and on T-shirts, who â€Å"feels sympathy with all living forms† (Kretch, 21) and always stays in balance. The noble savage idea. The first chapter of Kretch’s book is on the Prehistoric peoples that were here or came here from somewhere else. He talks about these people possibly coming from northeastern Asia to North America, crossing a landmass that would appear every time the sea level would drop, known as Beringia. As they moved southward when they could when weather conditions were favorable, and through out the centuries continued to move south, leaving behind them a mass of extinction of â€Å"megafauna†, large mammals. (supposedly). A man, Martin, says that the extinctions of these animals were solely the work of the humans moving southward and because these humans were on the move all the time, would just kill as convenient. However, not only did the megafaunal species disappear, but lots of bird species as well. Martin explained thi... Free Essays on Shepherd Kretch Free Essays on Shepherd Kretch Shepherd Kretch begins his novel with a very striking image which we all probably remember: who could forget the face of â€Å"the Crying Indian†? Kretch goes from this to explain that this add states that the Indian does not pollute, as his white counterparts do, and therefore â€Å"the white destroy[s] his land. He destroy[ed] planet earth† (Quoted in Kretch, 22), and Indians have this â€Å"noble image†. Ah,,the noble savage strikes again. Kretch explains both the noble savage and the ignoble savage and talks about the past and how people have revered Indians as â€Å"carefree, eloquent people living innocent, naked lives in a golden world of nature† (Kretch, 17), and consequently, the opposite on how they were bloodthirsty savages. He also touches on the French authors Rousseau and Montaigne, as we have read about previously, and their half-witted, daydream version on Native Americans. Kretch’s â€Å"Ecological Indian† is the Indian that we all know from the movies, television, on book covers and on T-shirts, who â€Å"feels sympathy with all living forms† (Kretch, 21) and always stays in balance. The noble savage idea. The first chapter of Kretch’s book is on the Prehistoric peoples that were here or came here from somewhere else. He talks about these people possibly coming from northeastern Asia to North America, crossing a landmass that would appear every time the sea level would drop, known as Beringia. As they moved southward when they could when weather conditions were favorable, and through out the centuries continued to move south, leaving behind them a mass of extinction of â€Å"megafauna†, large mammals. (supposedly). A man, Martin, says that the extinctions of these animals were solely the work of the humans moving southward and because these humans were on the move all the time, would just kill as convenient. However, not only did the megafaunal species disappear, but lots of bird species as well. Martin explained thi...

Compare the twomain characters (Norma Rae and Bread and Roses Essay

Compare the twomain characters (Norma Rae and Bread and Roses - Essay Example s’ exploration of how exploitation exists particularly in industries filled with poverty-stricken workers, one can further discover the connection between lack of work options and poverty, and workplace discrimination, which consequently aggravates the worker’s situation and reduces the possibility of developing a positive outlook and recognizing the higher purpose. Norma and Maya depict the roles of female workers trapped in a world of poverty, employer greed, and exploitation. However, just as there are several similarities in the story, there are also obvious differences. Norma and Maya’s plights in their works may be similar, but their approaches in reacting to these plights are different. Norma’s basis in deciding to lead a union organizer is well-developed in the film, while Maya’s basis in stepping up against her employers is either underdeveloped or truly albeit shallow. In â€Å"Bread and Roses,† the issue that incites the janitors’ protest is meager salary. This is a legitimate foundation; however, the larger political consequences and framework are not discussed at all. The films depicts how the workers’ are not given their rights, but it never tackled exactly what rights they were fighting for. Another consideration here is the fact that these workers are illegal immigrants in the country. T his fact creates a hostile reaction from the viewers to the supposed-to-be protagonist. In addition, regarding both protagonists’ relationships with their families, Norma again can gain any viewer’s empathy as she displays her selflessness. Her motivation in working is the higher purpose of supporting her parents through their illness. This supposedly kept her positive in her work despite the hardships. Also, one has to remember that her main reason for wanting to lead a union organizer is her parents’ health situation. On the other hand, Maya appears to be both selfish and ungrateful, as her reasons for supporting the union are purely personal.

Bullying in America Essay Example | Topics and Well Written Essays - 1750 words

Bullying in America - Essay Example Generally, bullying is carried out by males which accounts for 80%. Although, there are not many studies about bullying in workplaces, their occurrence is apparent and the effects are damaging as well. Because of its prevalence, the government had discourage bullying in any form however there are no laws to deal against people who cause psychological and emotional violence in workplaces and in schools. Bullying should be stopped because it has many psychological, emotional, and social consequences on the person being bullied. Body Bullying occurs as a result of attitude and behavior problems. The personalities of people who bully have innate domineering and aggressive behavior which is believed to be connected with attention deficit hyperactive disorder (ADHD). People afflicted with this disorder demonstrate impulsive behavior. They announce answers to the teacher’s question before it is completed, may interrupt, intrude and have difficulty in waiting for their turn. Others wh o carry out bullying do it with the belief of having fun without giving propensity of the consequences it may bring to the victim. This is because students who bully lack the foresight of their own actions and empathy to the feelings of their victims. Bullies are more concern of satisfying their needs of attention even to the extent of displaying an immature behavior. The occurrence of bullying activities among students could be inside the school premise or outside the school campus. Some forms of bullying are done inside the school bus or on the way home. This could be done during class hours inside the classroom or it could be carried out in the hallway. An example of bullying includes unnecessary touching of body parts followed with teasing and laughing. Another example is knocking another student down on the floor. Non physical contact involves staring, eye rolling, spreading malicious rumors, whispering to someone while in front of the person, and many other forms. Bullying res ults in psychological damages in several ways. It teaches the person being bullied to think that he/she is undesirable. The person’s self concept is negatively affected in which he/she will come to believe that she is less than desirable and incapable of doing things. The victim inculcates in his mind that his environment is dangerous but is powerless to defend himself. As a result, bullying tends to be repeated many times in which the person further learns helplessness giving more authoritative disposition of those who bully. This would be the beginning of losing interest in school. In cases where the student continues to attend school, his grades are likely to be affected since he may have poor concentration. His mind might be on plotting how to outsmart his bully classmates or how to get rid of them totally. Another effect of damaged self esteem to the bullied victim includes hopelessness and depression. The victim may have a hard time adjusting during difficult circumstan ces. This might explain an unanticipated finding that bullying is linked to suicidal thoughts of victims. This was revealed in the study of Hinduja (2010) where he found out that adolescents with traditional bullying

Barclays Retail Banking in India Essay Example | Topics and Well Written Essays - 2000 words

Barclays Retail Banking in India - Essay Example Analysis of Environment 5 1.1. PEST Analysis 5 8 1.2. Industry Life Cycle 8 2.0. Competitive stance of Barclays in India 9 2.1. Porter’s Five Forces 9 Section 2 13 2.1. Scale and Scope 13 2.2. Analysis of Strategy 14 2.3. Evaluation of Sustainability 15 References 17 Bibliography 21 Introduction After realising the potential of the emerging markets, many internationally operating business institutions have shifted their focus from developed economies to developing economies, such as China, Russia, and India (Raman, 2009). Following the trend, Barclays Bank Plc, which is by its origin an England-based financial institution, decided to expand its business in India in the year 2006. Conversely, the organisation had already entered the market almost 30 years before the commencement of retail banking in the economy (Barclays, 2011). The paper focuses on the business environment of Barclays Bank Plc in India and services rendered by the company in the economy. With this concern, the paper discusses the macro-economic factors existing in the Indian Banking Sector through PEST analysis. It also intends to identify the strategic alliances adopted by the company with the assistance of Porter’s Six Forces analysis and evaluate its appropriateness in overcoming the challenges existing in the economy. With the objective to analyse appropriateness of the strategies adopted by the company, the discussion of the paper presents a comprehensive outlook of the current status of the industry in the economic region. It also represents the various facts regarding the strategic behaviour of the company. Section 1 1.0. Analysis of Environment 1.1. PEST Analysis Political Factors The Indian political system has a great influence on the commercial sector of the economy. The current scenario of the political environment in India possesses few advantages and disadvantages which in turn can affect the banking sector to a large extent. For instance, the economy possesses a wel l-structured regulatory framework to control commercial banking and on the contrary a high inflationary rate which is most likely to have an effect on the growth of the banking industry (The Times of India, 2010). Moreover, in the current fiscal year the government of India have subscribed to recapitalise the public sector banks in order to assist them in achieving a target of 15% in terms of outstanding loans (Scribd, 2011). One major reason which can be identified in this context is the growing concern of the political leaders in the economy to improve the financial market trends with an objective of stimulated economic growth. This reformation will certainly make the competition fiercer in the market and thus affect the operations of Barclays in India. Economical Factors The GDP rate of the economy is recorded to continuously increase and currently figures around 5.75% (as was recorded in March 17th 2011). According to the economists, the economic growth rate shall persist to inc rease in the next few years (Ganesh, 2011). The interest rate of the economy is forecasted to continue on a high percentage (i.e. 5.75%). However, the inflationary rates of the economy are also recorded at an increase with 9.30%. Interest Rates of the economy currently figures to 5.75% and thus reflects a challenging business environment (Ganesh, 2011; Trading Economics, 2011). The economic situation of

Business Strategy Of Wal Mart In Japan

Business Strategy Of Wal Mart In Japan Globalisation is described as a process of world wide integration of culture, technology, social, political and economic factors. It is all about the creation of a world unified market and this can be observed with the growing levels of global trade (Luthans and Doh, 2009). Globalisation is evident in the shift of Multinational companies (MNCs) and economies from a world of isolation as a result of trade barriers to a world of reduced trade barriers and more inter related businesses and economies (Hill, 2009). MNCs now, expand from both developed countries, developing countries and emerging countries and vice-versa. There is therefore increasing competition among nations (The Economist, 2008). The global expansion of businesses over the years into different international markets have helped these businesses to increase their sales, competitiveness, reduce their cost of production and expand out of their saturated home markets (Root, 1994; Hill, 2009; Daniels et al., 2009). Retailers are not exceptions to this global expansion. This article will evaluate the internationalisation strategy of Wal-mart in Japan. Wal-Marts internalisation strategy in Japan is of particular interest because it recently pulled out of two of its international markets; Germany and South Korea. Its success in Japan is still questionable especially as Japan has proven to be a difficult market for many foreign retailers. International companies such as Carrefour, Boots have pulled out from the Japanese market after facing business challenges (Luthans and Doh, 2006). The literature review will analyse the Integration- responsiveness I-R framework as well as culture. These frameworks will be used for the evaluation of Wal-marts internationalisation strategy into the Japanese market in comparison with its international competitor Tesco Plc. The use of these two frameworks is to show the extent to which Wal-marts strategy responds towards Japanese local tastes and preferences in achieving a successful internationalisation. Conclusions and recommendations will be drawn from this analysis. BACKGROUND OF WAL-MART Wal-mart was founded in 1962 by Sam Walton and opened its first discount store in Rogers Ark, USA. In 1969, the company incorporated to become Wal-Mart Stores, Inc. Wal-mart stores feature general merchandise such as electronics, clothing, and home appliances. It also has complete groceries units. The company employs more than 2.1 million associates, serving more than 176 million customers a year. In 2009, it ranked first among retailers in Fortune Magazines Most Admired Companies survey and is also the largest retailer in the world (Wal-mart, 2009). As a result of the saturation of the American retail market, Wal-mart started its international expansion into foreign markets in the 1990s first into Mexico and subsequently expanded into thirteen other countries including Japan China, Canada and Great Britain (Wal-Mart, 2009; Hill, 2009). Today it has about 8,424 stores and club locations. The companys most successful foreign venture is in its Mexican market (Hill, 2009). This is as a result of the fact that they adjusted their international strategy to meet local demands. Their everyday low price strategy was also successful in Mexico which is a developing country. However, these strategies are not always welcomed by consumers as revealed in their German and Korean market expansions where they failed and had to pull out. Wal-Mart is still struggling to succeed in the Japanese market where it has already invested $1 billion (USD) (BBC, 2007). Nevertheless, Wal-marts international expansions of Wal-Mart has allowed it to develop economies of scale, increase Its customer base and develop more ideas such as their new shop layout (Hill, 2009; Wal-mart, 2009). LITERATURE REVIEW INTEGRATION-RESPONSIVENESS(I-R) FRAMEWORK According to Prahalad and Doz (1987, p.18) the Integration-Responsiveness (I-R) framework is a way of capturing the pressures on a given business . This framework is based on the pressures for global integration and local responsiveness on a business as perceived by the managers of the company (Rugman, 2002). Pressures for global integration are industry forces which drives companies into the standardisation of their products, policies and procedures in order to reduce their cost of operations across national boundaries while pressures for local responsiveness are forces which drive businesses into being locally sensitive to differences in culture, preferences, tastes, and general behaviour of each international market in their internationalisation strategies (Rugman, 2002; Daniel et al., 2009; Luthans and Doh, 2009). According to Luthans and Doh (2009), the understanding of culture and its diversity is important to an international companys successful internationalisation in any country. This is because it impacts upon work force attitudes, managerial ideology, technological transfers, business customs and practices as well as consumer behaviours. The I-R framework was developed by Prahalad and Doz in 1987. They classified international strategies into Global strategy (global integrated, centralised management and move for cost reduction), Multi-focal strategy (an integration of global coordination and local responsiveness) and locally responsive strategy (customised and localised product and services). The adoption of any of these strategies is dependent on the dominant pressure on an MNC as well as its main focus which could be cost reduction or customer satisfaction. Bartlett and Ghoshal (1989) further developed this framework and classified MNC strategies into four categories which can be compared with that of Prahalad and Doz. Their four strategic classifications are: Global strategy, International strategy, Transnational and Multi domestic strategy. Companies with global strategy (high Integration- low Responsiveness) focus on standardization and cost reduction with tight global control, those with International strategy (Low Integration-Low Responsiveness) usually introduce their existing competence and expertise into the new market while Transnational companies (High Integration and High Responsiveness) are flexible and integrate equal levels of global integration and local responsiveness into their business. The multi-domestic companies on the other hand (low Integration and High Responsiveness) respond more towards product customisation (Daniel et al 2009). It is however worthy to note that the adoption of one strategy may lead to the negl ecting another. Figure 1, shows the diagrammatic representation of the strategic classifications by both authors. CULTURE The understanding of culture and its impact on international market expansion is imperative to the success an MNCs strategy in a foreign country (Luthans and Doh, 2009). The degree of pressure for local responsiveness is reflective of the degree of influence of culture upon consumers. Differences in cultural match between companies and employees or consumers can often result to struggle for success in an international market (Holstein, 2007). Hofstede (1980, p.21), defined culture as the collective programming of the mind which distinguishes the members of one human group from another. Just as personality defines the identity of an individual, culture defines the identity of a group. According to Luthans and Doh 2009 p.96, culture is the acquired knowledge that people use to interpret, experience and generate social behaviour. This acquired knowledge often manifest into peoples attitude, values, behaviours and general ways of life. Many researchers have argued that culture can be lea rned, shared, symbolised, patterned, adapted and transgenerationalised. Hill (2009) further argues that values and norms form the basis of a culture. These values could be attributed to collective responsibility, social obligations, loyalty and so on and are often times emotionally important to the group. Norms on the other hand are social codes of conducts which dictate peoples behaviour towards each other. The Japanese for instance, can be seen as a group of people with similar values and norms and related culture. Several researchers have studied cultural differences and its impact on different national behaviours. Hall (1973, 7976) cited in Paliwoda and Ryans (2008), categorised culture into High and Low context. High context cultures like Japanese and Arabic, prefer implicit or unspoken messages and slow business discussions with emphasis on personal relationship and trust while Low context cultures like North America, United Kingdom, Germany prefer explicit, written or spoken messages with more emphasis on expertise, performance and efficiency. Hofstede (1980) undertook a study of the impact of culture on values in a workplace. He categorised culture into four main dimensions: power distance, uncertainty avoidance, individualism -collectivism and masculinity-feminity. A fifth one confucian dynaminism also referred to as long term or short term orientation was later developed. Power distance shows the extent to which people perceive inequality. High power distance nations (cultures) emphasise on the inequality of power, its workforce follow their superiors orders while low power nations or cultures minimise this inequality to minimum thus the work force follow superiors orders as a procedural requirement. Uncertainty avoidance on the other hand is the extent to which cultures avoid uncertainty. High uncertainty avoidance cultures shy away from risks, while low uncertainty avoidance cultures see risk as a part of life. Individualism versus collectivism is the degree to which people look after themselves as individuals or work in groups. Masculinity is often compared with feminity. Cultures with emphasis on success, money were referred as more masculine by Hosftede while a culture with emphasis on quality of life and caring for people are seen as feminist ( Hill,2009; Luthans and Doh,2009). The table below shows the Work-related values for 5 countries adapted from Hofstedes study. In as much as Hofstedes work is well accepted and has provided the basic characterisation of different cultural or national groups, these are not definite because culture cannot be easily classified and also culture is gradually changing with the increase in globalisation and integration of the world at large (Luthans and Doh, 2009). WAL-MARTS EXPANSION INTO JAPAN. Wal-Mart initially made a failed entry into Japan in the mid 1990s when it entered the market through selling its products in local supermarkets, however sales were disappointing (Yoffie and Wang, 2002). The initial failure could be associated to slow market drive by the local super markets as Wal-mart had little or no control over them. This can be seen as a major disadvantage of indirect exporting (Root 1994). However, in 2002 Wal-mart made a second attempt into Japan (BBC, 2006). Japan is one of the wealthiest and developed economies in the world. It has the second largest consumer market (Haddock-Fraser et al., 2009). Wal-marts entry into Japan was through partnership with Seiyu Ltd which is Japans fifth largest hypermarket and was in financial distress at that time (Yoffie and Wang, 2002). It was a deal which was done in phases as agreed by both parties. Wal-mart was to initially acquire 6.1% of Seiyu shares and gradually increase its stake by acquiring up to 67% of Seiyu in 200 7 (Yoffie and Wang, 2002). Sumitomo Corp a leading trading company in Japan also had a 15.6% stake of Seiyu (Luthans and Doh, 2009). In 2005, Wal-mart increased its acquisition stake making Seiyu a Wal-mart subsidiary and increasing Wal-marts control over Seiyu. In 2007, Wal-marts stake was again increased to 95.1% (Wal-mart, 2009). This partnership deal was meant to help Wal-mart minimise its risk of internationalising in Japan where there is strong domestic competition, price wars and strong suppliers and also help its entry and expansion in the market (Yoffie and Wang, 2002; Luthans and Doh, 2009). ANALYSIS OF WAL-MARTS STRATEGY IN JAPAN. Companies like Wal-mart, adopt international strategy for global expansion as suggested by Bartlett and Goshal because they have core competences which they can capitalise upon especially if its difficult for their rivals to match them. Companies with International strategy have important part of their value chain such as decision making, expertise, new products and international operations being controlled or decided from their headquarters. However such centralised decision making can often impede upon the abilities of the subsidiaries to respond to local demands (Hill, 2006; Daniel et al., 2009). Wal-mart has a cost efficient operating system with an expense structure that is among the lowest in the industry (Shah et al, 2005). Its price of food was estimated to be 20% lower than its competitors in the United States (Yoffie and Wang, 2002). Wal-mart is therefore trying to replicate this successful American strategy and core competence of Everyday Low Price (EDLP) in the Japanese international market. Though this strategy has been success in some of its international markets such as Mexico and China, the results in Germany and Korea were so poor that Wal-mart withdrew from those countries in 2006. Once again the success of this strategy is still questionable in Japan. Japanese consumers associate low price with low quality as they are willing to pay high price for high quality products (Holstein, 2007; Strategic Direction, 2008; Boyle, 2009). The perception of customers towards low price signifying low quality is particularly high in its clothing segment (Brunn, 2006). This low price strategy was adopted by Wal-Mart in its entry into Japan in 2002, especially because it was at a time when the country was just emerging from a prolonged recession and consumer income was low (Luthans and Doh, 2009). In order to erase this image of Low Price signifying Low Quality from the minds of their customers, Wal-Mart has introduced, more expensive products for the customer segment that prefers high cost while still maintaining some low cost variants. For example, it has jeans for $10 and $ 35 option as well (Business Week, 2005) this however may further confuse its customers who may not understand the basis for such price disparity. Japan is a country with a high context society and collectivistic way of life (Paliwoda and Ryans, 2008). They have strong ties to families and groups and great emphasis for quality and prestige (Hofstede, 1980). As a result of these strong social ties, Wal-Marts sacking of 25% of Seiyus work force including 1500 managers and employees in 2004, was wrongly perceived by the Japanese people. Wal-mart opens its stores for 24 hours a day, this is seen as stressful by the employees and generally seen as an infiltration of the American culture into Japan. Its introduction of American, Canadian and British managers who act on headquarters decisions rather than employing Japanese managers who understand the market better further portrayed them in a negative light to both the employees and the general public. This consequently led to the loss of some of its customers (Holstein, 2007; Strategic Direction, 2008). Another core competence which Wal-mart introduced into Japan is its technology-focused inventory replenishment system which is linked to their suppliers. It helps them monitor and manage their inventories. However, because the Japanese people prefer personal interaction when doing business (Hofstede,1980), the implementation of this Information technology strategy has not been easy, especially as Japan has several layers of distribution network which are closely networked and difficult to penetrate. It thus makes high volume discounting difficult and merchandising more expensive (Brunn, 2006; Holstein, 2007). Wal-Mart is however trying to eliminate the middle-man in order to successfully implement its low price strategy (Luthan and Doh, 2009). Wal-marts response to local tastes, preferences and general way of life is perceived as low in its international strategy as It tends to implement its competences into international markets with little considerations to what the local demands, preferences, expectations are and this has led to its struggle to survive in Japan (Brunn, 2006). Comparing Wal-mart with Tesco Plc in Japan, the following differences can be drawn from their strategy. Tesco Plc which is the biggest retailer in the United Kingdom entered Japan in 2003 through the acquisition of a domestic retailer just as Wal-Mart did. While Wal-mart acquired Seiyu which is a hypermarket, Tesco Plc acquired C Two-Network stores which has small discount supermarket stores (Tesco, 2009). Haddock-Fraser et al., (2009) have argued that large supermarket (hypermarkets) of the western cultures are not viable in Japan, rather small supermarkets, convenience stores with fresh and quality products are preferred by the Japanese consumers. Thus the strategic move of acquiring a discount supermarket chain by Tesco was aimed at meeting the local demand of the Japanese consumers who prefer to shop daily for fresh food in small quantities with convenience. This shopping behaviour makes them to patronise convenience stores and discount supermarkets which are more accessible than out of town hypermarkets. Tesco, with its small store format, experienced overall sales growth in 2006 unlike Wal-mart which has been making loss for four years (Haddock-Fraser et al., 2009). Upon acquiring C Two-Network, Tesco retained the management team of the company to oversee its operations in Japan, because Tesco realised that these managers have better understanding of the Japanese employees, consumers and suppliers (Food and Drink, 2003). Japan, being a country with high collective behaviours, (Holfstede, 1980) perceived this as a good move. Tesco Plc tries to localise its products and services in each of their international markets, recognising that each market has unique preferences. This higher degree of local responsiveness in their international markets emphasises the reason why Tesco retains its foreign managers and limits its control from headquarters (Tesco, 2009). Figures 3 and 4 below further shows the differences in the sales contribution of the international markets to the total revenue of both companies. Wal-Marts international markets contributed 24.6% of the companys 2009 financial income while Tesco Plc has 53% of its 2009 financial income being generated by its foreign markets with Asia alone generating 30% of this value. It can, therefore, be concluded that Tescos response to local responsiveness has a positive impact on their financial performance internationally. CONCLUSIONS AND RECOMMENDATIONS Wal-Mart is very successful in its domestic market and also some foreign markets such as China and Mexico where it had to adjust its strategy in order to respond better to local pressures. It is therefore recommended that Wal-mart should further develop its strategy in Japan and respond better to the countrys local demands and preferences through the opening of convenience stores in order to capture that market segment and offering more fresh local products to meet the local demand. Wal-mart should also employ Japanese managers who understand the market better. These measures will help Wal-mart to succeed better in Japan where the pressure for low price by customers is not emphasised rather high quality is preferred. Wal-mart can still maintain its international strategy with a little more responsiveness to local demand as there is no one best strategy to adopt. This move will save Wal-mart from withdrawing from the market where it has already invested $1 billion USD. Wal-marts low s ales value from international operations in comparison with Tesco reveals that the retail market is still a viable industry for Wal-mart to exploit.

Women: Their Freedom, And How They Got It :: Expository Essays Research Papers

Women: Their Freedom, And How They Got It The Light at the End of the Tunnel In the past, women have been oppressed to a point where they were treated as a completely different species. They were in a country that seemed to be a dark tunnel with no hope, dreams, or sense of fulfillment. Now, women have been given their natural birthrights, and they are now able to do everything males can do. As the United States of America was building, women for some reason were not treated like they should have been. Strong women like Sojourner Truth stood up for what they knew was right. She was able to fight for all women, represent a whole "race" and take control, she was one of the very few women who had the strength and will power to face this problem head on, and win. She was able to take on an entire nation and voice her opinion regardless of what her consequences could have been. That is what it takes to free yourself and or other people from the hold of injustice. Not too many people have the quality to be able to stand up in such harsh situations but because of some brave women all of the women are able to walk down the street and feel as equal as any man passing by. They can vote, hold office, get high paying jobs, and be independent women, with independent thoughts. In the lights of the horrible past, women were able to build a defense system far better than any army or navy that any country could produce. The women were able to attack with intelligence, perseverance, and being able to bring up common sense that seemed to have been missing before. With this defense, they were able to produce an illustrious history. Now, women can linger with their pasts, and with the memories of the women who preceded them, and look towards a bright future, where people like Eleanor Roosevelt and Hillary Rodham Clinton exemplify the American women, who can live out the American Dream, once only available to males. No longer do women write books depicting their insecurities and injustices. Now women are writers of Pulitzer Prize winning works and teach aspiring male authors how to be the best they can be. In a society where it was once unheard of for women to even be educated, women take up the majority of grade school teachers, and many more have blossomed into college professors with Ph D's and MD's.