Sources of Business Ideas - 1251 Words

Home About tutor2u Contact Us Buy tutor2u Resources tutor2u tutor2u Economics Business Politics Sociology IB Diploma Law RE Management History Geography English Teaching Learning Powered by Leeds Metropolitan University GCSE Business Studies GCSE Revision Note Home | Business Studies Revision Quizzes | Business Studies Blog Starting a business - sources of business ideas Author: Jim Riley Last updated: Sunday 23 September, 2012 Starting a Business - Sources of business ideas Where does an entrepreneur come up with the idea for his/her business? In practice there are many ways in which the business opportunity and idea is first spotted. As we shall see, sometimes luck plays a big part; at other times there is a role for†¦show more content†¦Tyrrell’s Crisps Will Chase Will needed to find an alternative use for the output from his loss-making potato farm. He added value to the potatoes by turning them into premium-priced crisps. Superjam Fraser Doherty Fraser turned his grandmother’s recipe for sugar-free jams into a best-selling grocery brand. Beautiful Vending Neil Mackay Richard Starrett Neil Richard spotted the potential for grooming machines whilst working in entertainments industry. Jo Jingles Gill Thomas Gill made a lifestyle choice to move out of the corporate world and set up her own business. She combined her personal interest in teaching music to children with an idea for a franchise format. Other Business Study Resources You Might Like on tutor2u Revision quizzes for business students Starting a Business Sources of Finance for a Startup Franchising Cash Flow Forecasting for a Startup Creating Protecting Business Ideas Startups and Understanding the Market Market Research for a Startup Locating the Startup Business Choosing a Legal Structure for a Startup Employing People in a Startup Generating and Protecting a Business Idea Using Breakeven in Decision-Making Finance Revenues Breakeven Basics Costs, Revenues and Profits Business Costs Using Budgets Using Breakeven in Decision-Making Investment Appraisal Basics Financial Strategies Measuring and Improving Profit Improving Cash Flow Working Capital Balance Sheet Income Statement FinancialShow MoreRelatedSources Of New Business Ideas944 Words   |  4 PagesSources of New Business Ideas According to Hisrich, sources for new business ideas come from five different thing; Customers, existing products and services, distribution channels, the federal government, and research and development (Hisrich, 2013). Hisrich lays out these five different channels but there are many other things that can produce a business idea, such as something as simple as an entrepreneur having an issue in his/her life and creates something to make that issue disappear. â€Å"By farRead MoreBeing an Entrepeneur1043 Words   |  4 Pagesabout the idea of creating a multinational retail corporation here in America called Wal-Mart? Sam Walton - founder of Wal-Mart was behind that idea. Sam Walton is an example of great entrepreneur who wanted to make his business successful. An entrepreneur needs a variety of skills but does not need to have a formal education. Being an entrepreneur is challenging even if an individual is well educated on the field or has no education at all. There is alwa ys the risk conducting business becauseRead MoreChameleon Shoes Sources Of Capital1278 Words   |  6 PagesChameleon Shoes Sources of Capital Every business needs some form of capital investment hence the need for entrepreneurs to identify reliable sources of financing. The chameleon shoes venture, being a new business opportunity will require reliable sources of capital. In fact, the chameleon shoes business will require finances to purchase assets and for its working capital operations. As such, this paper seeks to explore various sources of capital with particular interest on venture capital asRead MoreCitation and Business Report Essay661 Words   |  3 PagesSUBDOMAIN 318.2 - COMMUNICATION Competency 318.2.2: Business Research and Presentation - The graduate conducts business research and develops business-related presentations appropriate to specific tasks. Competency 318.2.3: Organizational Communication - The graduate can determine appropriate uses for specified types of organizational communication. Objectives: 318.2.2-01: Describe what constitutes a valid information source. 318.2.2-02: Identify appropriate use of reference material as aRead MoreRaising Finance1286 Words   |  6 Pagesexternal sources.  In addition, managers who are looking to buy-in to a business (management buy-in or MBI) or buy-out (management buy-out or MBO) a business from its owners, may not have the resources to acquire the company. They will need to raise finance to achieve their objectives. There are a number of potential sources of finance to meet the needs of a growing business or to finance an MBI or MBO: - Existing shareholders and directors funds - Family and friends - Business angels -Read MoreEntrepreneurship Assignment1021 Words   |  5 Pagescombined’ The Female Economy, Harvard Business Review. Taking the essence from the paper, create a business idea that serves the women market. The business need not be specifically feminine, ie. Women products, cosmetics, but general products/services that is also used by women. Then develop a business plan detailing your ideas. Assessment Method The following assessment scheme will be adopted in order to evaluate the elements above: * Business Idea (15%) This criterion evaluates theRead MoreInnovation Practices Of An Internet Company1137 Words   |  5 PagesCompany The business world of today exists in an uncertain and volatile environment. One of the greatest changes in this environment came with the arrival of the Internet. As the use of the Internet became the norm rather than the exception, businesses had to shift their focus. 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The fundamental idea of the EU is to have a single market region where there are few (if any) barriers to the movement of goods and services throughout respective member countries. With the reduction of barriers to doing business, having a single market should help substantially grow business throughout the European economy by increasing competition and trade, improving efficiency, and helping cut prices of both business inputs and finished products (source 1). However, since the worldRead MoreThe Importance Of A Study Of Todays Business Market1238 Words   |  5 PagesIn this essay is will be detailing the importance of a study of today s business market. A market survey is key both before and after the release of a product or a business idea to strengthen it. You have an idea of business tha t seem irresistible. Or you simply think to launch a new product, you ve found a super location for your new business and want it, yes or Yes. Any of these actions requires money and effort. For this reason it is necessary that we have all the data that ensures the viability

Placing The Blame On Hale s The Crucible - 860 Words

Placing the Blame on Hale The town of Salem, Massachusetts was a quiet, uneventful town for quite some time. When accusations of witchcraft began circling certain members of the community, Reverend Parris called in outside help. Reverent John Hale came from Beverly, the next town over. He strongly believes that everyone has a good side, though that belief sometimes alters his perception of people. Though his attempts to help were noble, he could have prevented over fifty deaths by staying out of Salem. Hale becomes the primary cause of the witch hunts because he’s overly trusting, kind, and often rushes to solve complex problems in Arthur Miller’s The Crucible. As a general rule, Hale believes most of what he’s told, without questioning the truth of it. Not long after coming to Salem, Hale begins questioning members of the community about witchcraft. To Abigail, he asks, â€Å"Did you call the Devil last night?† (481 Miller), to which she replies, seemingl y fearfully, â€Å"I never called him! Tituba, Tituba†¦Ã¢â‚¬  (481 Miller). To the reader, it’s rather obvious that Abigail is attempting to blame Tituba for her suspicious actions. Parris interrupts, asking, â€Å"She called the Devil?† (481 Miller), and Hale begins to shift his suspicion, saying, â€Å"I should like to speak with Tituba.† (481 Miller). Nearly immediately after Hale has another person to focus his questioning on, he accepts Abigail’s story and moves on. Hale could have avoided this by noting the name, but continuing toShow MoreRelatedSuperstitions By The Crucible By Arthur Miller1206 Words   |  5 Pages Superstitions in The Crucible Superstitions lead to various impacts because a superstition is a belief that is not backed up by any facts, often straying from rational though. Miller expresses this idea throughout The Crucible as a rumor of witchcraft invades the small Puritan town of Salem, Massachusetts. In the Puritan religion the Devil plays a very important role. The Puritans believed that every bad deed was motivated by the devil, some of these included writing love poems, listening to religiousRead MoreThe Art Of Deception : The Origin Of And Escape From The Spread Of Falsehoods Essay1413 Words   |  6 PagesFalsehoods Throughout the centuries, episodes of hysteria have disturbed humanity, plaguing both small communities and powerful empires. Although often short-lived, these instances of widespread panic can disrupt social and political order. In The Crucible, Arthur Miller reveals that self-centered ambition underlies the spread of false ideas, which can fuel societal paranoia. However, Miller argues that individuals can escape this hysteria and preserve their dignity if they choose to sacrifice theirRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pagesand permission should be obtained from the publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopying, recording, or likewise. To obtain permission(s) to use material from this work, please submit a written request to Pearson Education, Inc., Permissions Department, One Lake Street, Upper Saddle River, New Jersey 07458, or you may fax your request to 201-236-3290. Many of the designations by manufacturers

Opportunity Creativity Discovery-Free-Samples-Myassignmenthelp

Questions: 1.How the tools, Methods and Theories you have learned and applied in this unit could be relevant to this case study. 2.How do they apply? 3.Would they affect the outcome stated in the Case Study? 4.What were the Opportunities to Implement them? 5.How could they be applied in moving beyond the Case? 6.Provide a summary of your understanding of design-led innovation including design thinking and other Methodologies for Opportunity Discovery and Creativity. 7.Briefly reflect on your Initial Creativity Presentation. What can you observe about your approach to Creativity and Design now that you have completed this unit? How does this impact on you? Answers: 1.The design thinking industry has been extended beyond the common practice of including the design for and of hospitals, healthcare, government policies and organizations. The tools, theories and methods applied in this unit are relevant to the case study. Recent trends of utilizing the approach of design thinking are a crucial shift towards design for the complex projects as well as their environments. It is an approach of problem solving fundamental to the design practice, which emphasizes on the user, collaborative methods and visuals through an iterative, multidisciplinary and adaptive process. Recent design thinking draws examples from the highly complex and large scale practices of the organization. One could preserve the design thinking approach for a new context (Oppezzo and Schwartz 2014). 2.The principles of design are the objectives and overarching philosophies which are outlined as building a distributed understanding of the intent, taking the approach which is user centered, making an emerging design which is visible early, working collaboratively in terms of interdisciplinary, creating a logical blueprint for any changes and following a flexible yet disciplined process. The application of the methods, tools and theories is done to solve the highly complex situations. Organizations have adopted innovative methods of implementing the methods wherever accessible. Practitioners and scholars have turner to the design thinking for an innovative advantage, in this competitive environment of policy design and public service. The methodology of design thinking is rigid; however, with certain innovative measures it can be adaptive as well as fluid (Amadeu 2012). 3.The most crucial point of the creative decision analysis and making an innovative decision is achieving the desired outcome. The decision making quality can be only evaluated in the situation, when the ideas are creative and innovative. Firstly, the design development stages, blueprinting, intent and emphasizing on the idealistic and intangible design goals, which affects the outcome. Secondly, the facilitators of design take a passive role for getting the desired results. Thirdly, the design thinking emphasizes on the collaboration, which in turn encourages the co responsibility on the outcome of the design. The design thinking approach is not only gained as designers, rather it can be enabled through multidisciplinary collaboration via design methodology. Therefore, the design thinking helps in providing more innovative and modern solutions (Budge, Beale and Lynas 2013). 4.Design thinking is successful in the complex environments only if it is successfully implemented outside the system. The design systems, services and products must be integrated within the organizational tax system which exists. Effective implementation of the organizational design system relies on the integration. Strategic and systematic thinking requires full alignment with the design thinking, to gain a clear understanding of how to implement the design outcomes, in the existing organizational systems. Designing at the complexity levels is not only about handling the problems but also using an approach of unique and creative designing. Integration is regarding compromise and negotiation as it involves swapping between the competitive requirements of users experience and maintaining a consistency with recent revenue system (Burleson and Tripathi 2013). 5.They could be applied in moving beyond the case as designs are being evaluated before implementation. They are examined as well based on the meeting of original intent. This proves to be a crucial factor in the whole design process, as the whole intent serves as an important measure of evaluating the investment returns as well as adopting a design process. When the final outcome is user tested as well as approved, they are passed for implementation. Therefore, at this juncture the project passes from the designers hands to the business team. A review of post implementation is undertaken after all the designs are implemented. This method of reviewing post implementation is being conducted by the business department and usually doesnt involve core design department, who was responsible for designing the solution (Oppezzo and Schwartz 2014). 6.Design thinking helps in drawing imagination, systematic reasoning, intuition and logic for exploring the possibilities. It helps in creating the desired outcomes for the benefit of the end user or customer. A creative mind set is solution focused as well as action oriented. It includes both imagination and analysis. It is linked to the improved future as it seeks in generating new ideas, unlike the critical thinking which shatters them. It helps in providing information to the human centered innovation, as it begins by creating an understanding of the users or customers unsatisfied needs or desires. Design thinking is effective and efficient as it promotes a collaborative approach. It helps in bringing in people from various parts of the company together, because of their different knowledge, expertise, experiences and solves a problem (Designthinkingmovie 2017). The creative design thinking approach minimizes the uncertainty or risk of the innovative measures. It develops the collective thinking approach via series of frames in order to gain an understanding of the consumer desires or needs. Through engaging with the users or the customers actively, it helps in understanding the growing intimacy and uncovering the needs and requirements. Design thinkers totally rely on the customer insights which are gained from the real world experiments as well as directly engaging market research. On considering the case study of Apple, the company can use its strengths of creative designing in order to expand its network of distribution. The company can even use its strong brand image for the rapid processes of innovation. It can successfully launch and develop its new lines of products as it has strong brand recognition. Threats from aggressive competitors are the major issues, which affects the players of the industry. Therefore, a strong agenda must b e set up and suitable actions are to be taken in order to address the existing threats of the market. Continuous innovation and launching new products will also help the company to tackle the competitors. New marketing techniques must be employed in order to gain more consumers appreciation and attain their loyalty (Cup.columbia.edu 2017). The company has an opportunity in expanding their networking unit of distribution. The company has a very limited network distribution; therefore, it should work and take the opportunity in consideration. It needs to change the entire strategy of distribution and implement new ones, which will in turn prove the companys efficiency and effectiveness. This will be very beneficial for the companys growth and progress. Expanded network distribution can help the company reach new customers in this globalised world. Moreover, they should also focus on the new lines of products, as its existing product lines are greatly successful. Hence, further innovation should include launching of new products, which in turn will help in supporting the growth and progress of the industry. The company has opportunities in this field for their further growth, despite of the increasing competition in the global market (Gielnik et al. 2012). Apples supply chain management has provided the company with flexibility for meeting the fluctuating demand, as ninety percent parts of Apples iphone were being manufactured overseas. Offshore outsourcing however, helped in reducing operation costs of Apple, but it decreased the companys control as well as monitoring over the manufacturing practices and processes. Due to the absence of monitoring, the work procedures of suppliers and employees were very difficult to look after. It also hampered the corporate social responsibilities of the company. With different stakeholders and expectations, it became difficult to manage the consumers demands and satisfaction. It also became hard to manage the buyer and supplier relationship which hampered the companys progress. Moreover, challenges arose when differences in the organizations procedures, questioned its objectives. Therefore, the company needs to set a perfect business agenda, in order to manage its supply chain management system (Ho we, Davies and Ritchie 2013). Apple can also take some major steps regarding its corporate social responsibility challenges, which are being faced in the companys supply chain. The company is even working on their issues in order to improve their working conditions and procedures. It is engaging more in monitoring and tracking activities, in order to keep a track on the offshore operations. To regain the control, the company is focusing more on bringing its manufacturing units back to United States. Furthermore, they are trying to stress on robotization and automation in future. They would like to engage in more CSR activities in order to improve their customer base and attain their loyalty (Jenkin et al. 2013). In order to succeed in harnessing the power of thinking regarding the creative design, one should try out new tools for design thinking. One needs to manage the projects growth itself. One is gathering huge amounts of information and deals with uncertainty and ambiguity, working with the internal as well as internal partners. With these new and innovative tools as well as data, any company can flourish. Effective and efficient implementation of the organizational design system relies on the integration. Strategic and systematic thinking requires full alignment with the design thinking, to gain a clear understanding of how to implement the design outcomes, in the existing organizational systems. Designing at the complexity levels is not only about handling the problems but also using an approach of unique and creative designing. Integration is regarding compromise and negotiation as it involves swapping between the competitive requirements or needs of users experience and maintaining a consistency with recent revenue system (Le Masson, Hatchuel and Wei 2012). Incorporating the design thinking methodologies into the search for the growth is a time consuming process and going to take some time and patience on the individuals part. Majority of the companies, however, well excited and intentioned about innovation, arent Google or PG. Any company will be able to change or innovate their strategies and policies if they have creative employees (Youtube.com 2017). All sorts of hindrances will be probably thrown to the creative person who is responsible for finding new and modern growth opportunities. In addition to this, moving a project through any company is a big challenge and managers try to grow or innovate their new businesses by using creative design approach (Moneta 2012). 7.Design thinking is effective and efficient as it promotes a collaborative approach. It helps in bringing in people from various parts of the company together, because of their different knowledge, expertise, experiences and solves a problem. All these ingredients are combined together and help an organization come up with creative and innovative ways of solving a problem. Great and Innovative ideas helps in solving the organizational problems in unique ways. Great ideas are the combination of the existing ideas. Brainstorming is very powerful as it helps in bringing all the people together, with various experiences in order to merge all together (Oman et al. 2013). Subcultures flourish as because individuals are contributing their ideas, production and funding. This results in the resurgence of creativity, community and craftsmanship. There are many problems which cannot be solved. One may not find technologies for solving any particular problem, but it should be discovered very quickly. Therefore, the methodology of design thinking is not necessarily responsible for generating better and innovative ideas for the competitive methodologies. It is that these methodologies allow one to test the ideas very quickly on order to observe the creative designing approach of one self. If an individual is a good solver of problems, he/she can be regarded as creative (Page 2012). Creativity and designing is a powerful strategy or tool which is an impactful one. In my opinion, creating a strategy needs deciphering the patterns, presenting innovative solutions as well as insightful ideas. Creative designing is a very powerful tool for all organizations. When organizations bring in design thinking in the processes, the strategic insights are made in easier ways. The evolving of the whole strategy becomes faster and stronger, throughout the entire process. Developing strategies is not just hard, but the results can also be complex. Extracting it into digestible, simpler and impactful story becomes important and crucial. Creative designing is a particular way of emotionally and visually bringing in the strategic stories to life (Navarrete 2013). In addition to this, creative designing helps in making people view a clear narrative, which takes people on to a journey and also makes solutions seem expected in the end. It is a particular way of making and simplifying the whole strategies into more grounded and human. It is very easy for the strategies to go over the head of the people, especially when they are not a part of the journey. Organizations have this tendency of running into the road blocks as the audiences seem unable to grasp the strategies. This becomes a problem which needs to be sorted out. Therefore, creative designing helps in bringing in several innovative strategies to life and gain an impactful position in the business for its growth and progress (Shai et al. 2013). References Amadeu, F., 2012. Creativity and emerging knowledge: Intuitive practice in design and crafts.Trans-techresearch. net. Budge, K., Beale, C. and Lynas, E., 2013. A chaotic intervention: Creativity and peer learning in design education.International Journal of Art Design Education,32(2), pp.146-156. Burleson, W. and Tripathi, P., 2013. Mining Creativity Research to Inform Design Rationale in Open Source Communities. InCreativity and Rationale(pp. 353-376). Springer London. Cup.columbia.edu 2017.Designing for Growth - A Design Thinking Tool Kit for Managers | Columbia University Press. [online] Columbia University Press. Available at: https://cup.columbia.edu/book/designing-for-growth/9780231158381 [Accessed 30 Oct. 2017]. Designthinkingmovie 2017.Design Thinking - a documentary on design thinking. [online] Designthinkingmovie.com. Available at: https://www.designthinkingmovie.com/ [Accessed 30 Oct. 2017]. Gielnik, M.M., Frese, M., Graf, J.M. and Kampschulte, A., 2012. Creativity in the opportunity identification process and the moderating effect of diversity of information.Journal of Business Venturing,27(5), pp.559-576. Howe, A., Davies, D. and Ritchie, R., 2013.Primary design and technology for the future: Creativity, culture and citizenship. Routledge. Jenkin, T.A., Chan, Y.E., Skillicorn, D.B. and Rogers, K.W., 2013. Individual exploration, sensemaking, and innovation: A design for the discovery of novel information.Decision Sciences,44(6), pp.1021-1057. Le Masson, P., Hatchuel, A. and Wei, B., 2012. How design theories support creativityan historical perspective. InDS 73-1 Proceedings of the 2nd International Conference on Design Creativity Volume 1. Moneta, G.B., 2012. Opportunity for creativity in the job as a moderator of the relation between trait intrinsic motivation and flow in work.Motivation and Emotion,36(4), pp.491-503. Navarrete, C.C., 2013. Creative thinking in digital game design and development: A case study.Computers Education,69, pp.320-331. Oman, S.K., Tumer, I.Y., Wood, K. and Seepersad, C., 2013. A comparison of creativity and innovation metrics and sample validation through in-class design projects.Research in Engineering Design,24(1), pp.65-92. Oppezzo, M. and Schwartz, D.L., 2014. Give your ideas some legs: The positive effect of walking on creative thinking.Journal of experimental psychology: learning, memory, and cognition,40(4), p.1142. Page, T., 2012. A shared place of discovery and creativity: Practices of contemporary art and design pedagogy.International Journal of Art Design Education,31(1), pp.67-77. Shai, O., Reich, Y., Hatchuel, A. and Subrahmanian, E., 2013. Creativity and scientific discovery with infused design and its analysis with CK theory.Research in Engineering Design,24(2), pp.201-214. Youtube.com 2017."A New Approach to Design Thinking" - Doug Powell. [online] YouTube. Available at: https://www.youtube.com/watch?v=c0el19EKXYU [Accessed 30 Oct. 2017].

The Negative Effects of Nuclear Energy Essay Example For Students

The Negative Effects of Nuclear Energy Essay In 1950, the first commercial nuclear powerplants were constructed. The public was promiseda non-polluting and resourceful type of energy, buthow safe was, and is, nuclear energy? Althoughthere are less than 500 licensed nuclear powerplants in the world, many nuclear accidents havealready been endangering civilian lives. Moreserious accidents are not just likely, but inevitable(Fairchild 29). Nuclear energy may appear to bethe ideal source of energy for the future: however,there are many negative effects of nuclear energythat can lead to very dangerous situations. Energy has always been among the basic humanconcerns, along with food and shelter. It takespart in all activities, from walking to the operationof even the most complicated equipment. Mankindhas been faced with the challenge of meeting itsenergy needs without risking human health and theenvironment. The many types of energy are mechanical, thermal,chemical, electrical, radiant, and atomic (MicrosoftEncarta). In 1987, oil supplied 32% of the energyworldwide. Coal was next in line with 26%, thennatural gas with 17%, biomass 15%, and nuclearenergy with only 4% (Galperin 19). With the mainsources of our energy running low, nations look tonew sources to provide our society with power. We will write a custom essay on The Negative Effects of Nuclear Energy specifically for you for only $16.38 $13.9/page Order now Nuclear energy, the newest type of energy, wasresearched to see if it would be the mostpromising type of energy for the future. Surprisingly, nuclear energy was discovered byaccident. In 1896, the French scientist, AntoineHenri Becquerel, conducted an experiment withuranium salts and found that these salts gave offtheir own light when exposed to sunlight. Marieand Pierre Curie were fascinated by thepossibilities of Becquerels rays. The Curiesdiscovered exactly what the rays were and thennamed the phenomenon radioactivity (Halacy 6). During World War II, many scientists from aroundthe world came to the United States to work onnuclear reactors and weapons. With muchsuccess, they continued after World War II andconcentrated more on nuclear energy. Thescientists instantly saw that nuclear energy wouldbe a great source of power because of the amountof power it released. Splitting an amount ofuranium equal to one penny would produce asmuch energy as seven and a half tons of coal(Lilienthal 85). A nuclear power plant is where energy is formedwhen nuclear fission or fusion takes place. So far,however, only the power of fission has beencontrolled and used for energy. There are manyparts of the nuclear power plant, including thereactor, generator, control room, cooling systems,and the electrical, air, and water lines. The heart ofthe nuclear power plant is its reactor core, whichcontains a few hundred fuel assemblies. Thereactor core is encased in a pressured steel tankwith walls several inches thick. In most reactors,this vessel is enclosed in a containment structure. This is a steel-reinforced concrete dome that isabout three feet thick and serves as the outermostbarrier between the plant and the environmentaround it. This helps prevent radiation fromescaping the plant (Galperin 42). There are many different types of nuclear reactors,but all the power plants in the United States andmore than three-quarters of those worldwide arelight-water reactors. There are two types oflight-water reactors, which are boiling-water andpressurized-water reactors. Both types useordinary water as coolant and require enricheduranium (Microsoft Encarta). In boiling-water reactors, cooling water surroundsfuel assemblies. The heat of nuclear fission makesthe water boil and the steam produced is carriedaway from the core to the turbines. Once its workis done, the steam is condensed to water and itreturns to the reactor (Galperin 44). The pressurized-water reactor is more commonlyused than the boiling-water reactor. This reactorseals the cooling water in a closed loop an d addsa heat-exchange system. Water in the reactor coregets hot, but it does not turn to steam. The hotwater is piped through a steam generator andconverts a secondary water supply into steam topower the turbine. The two water supplies do notmix (Galperin 45). A gas-cooled reactor is similar to apressurized-water reactor. The only maindifference is that helium or carbon dioxide gasreplaces the water in the primary loop. Thesereactors cost more to operate and to build, but aremore energy efficient (Galperin 46). The last main type of reactor is a breeder-reactor. .ub5eb1378306c7f59726f0b188e4566f4 , .ub5eb1378306c7f59726f0b188e4566f4 .postImageUrl , .ub5eb1378306c7f59726f0b188e4566f4 .centered-text-area { min-height: 80px; position: relative; } .ub5eb1378306c7f59726f0b188e4566f4 , .ub5eb1378306c7f59726f0b188e4566f4:hover , .ub5eb1378306c7f59726f0b188e4566f4:visited , .ub5eb1378306c7f59726f0b188e4566f4:active { border:0!important; } .ub5eb1378306c7f59726f0b188e4566f4 .clearfix:after { content: ""; display: table; clear: both; } .ub5eb1378306c7f59726f0b188e4566f4 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ub5eb1378306c7f59726f0b188e4566f4:active , .ub5eb1378306c7f59726f0b188e4566f4:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ub5eb1378306c7f59726f0b188e4566f4 .centered-text-area { width: 100%; position: relative ; } .ub5eb1378306c7f59726f0b188e4566f4 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ub5eb1378306c7f59726f0b188e4566f4 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ub5eb1378306c7f59726f0b188e4566f4 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ub5eb1378306c7f59726f0b188e4566f4:hover .ctaButton { background-color: #34495E!important; } .ub5eb1378306c7f59726f0b188e4566f4 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ub5eb1378306c7f59726f0b188e4566f4 .ub5eb1378306c7f59726f0b188e4566f4-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ub5eb1378306c7f59726f0b188e4566f4:after { content: ""; display: block; clear: both; } READ: Acid Rain EssayThis is very different then other reactors because itproduces more fissionable material then itconsumes. A breeder reactor fuels with acombination of plutonium and uranium. A breederreactor would be extremely useful if uranium wasscarce. It takes about 10 to 60 years to use up thefuel from just one cycle (Galperin 46). Radiation is very strong in the nuclear waste ofpower plants. Nuclear waste exists in severalforms. One form is called high-level waste, and theother is called low-level waste. High-level waste ismostly from the used fuel rods and other materialsexposed to as much radiation as they are. High-level wastes can let out very large amountsof radiation for thousands of years. There is noplace to store this waste that is safe, and it willalways be radioactive. But for now, they arestored in the ground. Other proposed storingsolutions are sending it to space, burying it in thecore of the earth, burying it in the ocean, orburying it under the Antarctic ice. Even these ideashave the potential of severely damaging the earth. An example of low-level waste is the waste left inthe reactor water. This waste is less radioactive,but is still very dangerous (Galperin 65). Two engineers in Connecticut have, not too longago, caught the Nuclear Regulatory Commission(NRC) in a dangerous game of disobeying therules. The NRC has been regularly disobeyingsafety rules to let plants keep the cost down andstay open to operate (Microsoft Encarta). Twosenior engineers started questioning after one ofthem had checked the specifications of the coolingsystem in a power plant. After eighteen months of operation, a nuclearpower plant is temporarily shut down. They haveto get rid of the used fuel rods and replace themwith new ones. The old rods are very hot andradioactive. Places to store the old fuel rods arerather limited, especially since the federalgovernment has never designated an officialstorage place for this high-level waste. So wheredo you used fuel rods go? Used fuel rods are kept at a fuel pool at the plantuntil they can find a storage place for them. Fuelpools were created to keep the fuel rods for shortperiods of time. The fuel pool is not supposed tobe f illed to capacity. This is only to be a lastresort. In the fuel pool, a cooling system cools theused, hot, radioactive fuel rods. The more fuelrods that are stored, the more heat. This, in turn,causes more danger. If the cooling system fails, thepool could boil, turning the plant into a lethal saunafilled with radioactive steam (Microsoft Encarta). George Galatis, an employee at Millstone-1Nuclear Facility, had been checking specificationsand realized that the reports of safety in the fuelpool had not been kept. He did some checking ofhis own on this, and discovered that the plant hadbeen putting almost three times as many fuel rodsin the fuel pool as they were supposed to. Hewanted to report this to the NRC right away, buthe knew that some nuclear facilities, like this one,was known to harass and even fire employeeswho raised safety concerns. Therefore, he teamedup with another employee at the plant, GeorgeBetancourt, and brought the issue up to thesupervisors of the plant. They completely deniedthe problem. Galatis and Betancourt then took theproblem to the NRC themselves and found thatthe NRC had been ignoring the problem for over adecade. Nuclear facility scandals have not just beenhappening recently. They have been going on sincethe very beginning of nuclear energy. The nuclearaccident of Chelyabinsk-40 is one of theearlie st-known disasters. The Chelyabinsk-40reactor was located near the Ural Mountains in thecity of Kyshtym, Russia. A tank holdingradioactive gases exploded, contaminating landthousands of miles around the plant. Until 1988,Russia officials dared to admit that this event eventook place. Many things are still unknown aboutthis disaster. What we do know, however, is thatthe region around the reactor is sealed, and morethan 30 towns in the area around it havedisappeared from the Soviet map (Galperin 74). .u8a634ed1313f3d02351b53beee225b7e , .u8a634ed1313f3d02351b53beee225b7e .postImageUrl , .u8a634ed1313f3d02351b53beee225b7e .centered-text-area { min-height: 80px; position: relative; } .u8a634ed1313f3d02351b53beee225b7e , .u8a634ed1313f3d02351b53beee225b7e:hover , .u8a634ed1313f3d02351b53beee225b7e:visited , .u8a634ed1313f3d02351b53beee225b7e:active { border:0!important; } .u8a634ed1313f3d02351b53beee225b7e .clearfix:after { content: ""; display: table; clear: both; } .u8a634ed1313f3d02351b53beee225b7e { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u8a634ed1313f3d02351b53beee225b7e:active , .u8a634ed1313f3d02351b53beee225b7e:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u8a634ed1313f3d02351b53beee225b7e .centered-text-area { width: 100%; position: relative ; } .u8a634ed1313f3d02351b53beee225b7e .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u8a634ed1313f3d02351b53beee225b7e .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u8a634ed1313f3d02351b53beee225b7e .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u8a634ed1313f3d02351b53beee225b7e:hover .ctaButton { background-color: #34495E!important; } .u8a634ed1313f3d02351b53beee225b7e .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u8a634ed1313f3d02351b53beee225b7e .u8a634ed1313f3d02351b53beee225b7e-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u8a634ed1313f3d02351b53beee225b7e:after { content: ""; display: block; clear: both; } READ: Childhood Memories EssayIn a town several miles north of Liverpool,England, there was the nuclear repossessing plantcalled Windscale. In 1957, the plant graphitemoderator overheated. The temperature indicatorsdid not recognize the problem in time, so a largeamount of radiation escaped, contaminating twohundred miles of countryside. This accident is saidto have caused birth defects, cancer, and leukemiain many people who were near the site (Schneider4). In 1975, at Browns Ferry Nuclear Plant inDecatur, Alabama, there was another nuclearaccident. A maintenance worker was checking airleaks with a candle. This was against regulationsand caused the plant to catch on fire. A mel tdownwas luckily prevented, but a worse disastercertainly could have happened (Galperin 75). The worst nuclear accident in the United Statesoccurred in 1979 at Three Mile Island. Thisreactor was located in Harrisburg, Pennsylvania. Many of these reactors had poor safety recordsand an NRC inspector suggested that they beevaluated. Despite this inspectors suggestion,nothing was done. During the cleaning of a sectorof the plant, one pump failed which caused thetemperatures to rise in the cooling circuit. Thesafety devices had turned on and started to workproperly. However, after they cooled the circuit,the safety devices never turned off. Theyeventually used all the coolant and thetemperatures began to rise. A meltdown beganand citizens started evacuating. It is uncertain howmuch radiation escaped into the air from it. Theplant then had to be cleaned up and sealed off. Part of this process is still going on, and theestimated cost upon completion is around twobillion dollars (Stephens 174). The Chernobyl nuclear disaster in Russia was theworst accident in nuclear history. It took threedays of meltdown for the nuclear plant officials toeven realize there was a problem. The problemwas discovered when technicians in countriesbordering Russia noticed high radiation levels anddecided it was coming from Chernobyl. Explosions were shooting radiation into the airbecause Chernobyl was not built with acontainment structure. The radiation was carriedgreat distances by the air currents. The radiationthat escaped into the atmosphere was moreradioactive than the atomic bombs dropped onHiroshima and Nagasaki. Fires also ragedthroughout the complex, which made it hard tocontrol the situation. It was stated that five millionpeople were exposed to the radioactive fallout inUkraine, Belarus, and Russia. Predictions weremade that 40,000 cases of cancer are going to belinked directly to the Chernobyl accident (Galperin82). Chernobyl and other accidents help create agrowing resistance to nuclear energy. This isbecause radiation sickness and other harmfuleffects from over-exposure to radiation haveoccurred. Every person in the world is exposed toradiation. It comes from things such as potassiumin food, radon gases, and uranium decay. Theamount of radiation one is exposed to depends onlocation, eating habits, a s well as many otherthings. Yet, too much radiation exposure isdefinitely fatal. How can nuclear power plants be trusted whenthey are more concerned with saving money, thenprotecting lives? They are violating safetystandards and the government is just watchingthem do it. There are probably many otherviolations that are taking place to let the plantscontinue to operate and compete as a source ofpower. If the NRC suddenly decided to enforceall of its rules, then a majority of nuclear powerplants would have to be shut down. What do youbelieve holds more importance: saving money, orsaving lives? Nuclear energy displays both the brilliance of manand the devastating destruction that mankind cancause. The potential of nuclear energy has causedgreat excitement. However, the destruction ofHiroshima and Nagasaki, as well as the manynuclear power plant accidents and the manydangers of radioactivity, have given the worldreason to pause and consider the dangerouspossibilities of nuclear disaster .

Organic Agriculture

Organic Agriculture Key Partners The key partners of the company include retailers (supermarkets), suppliers of farm inputs, and consultants. The reasons for collaborating with retailers include the following. First, it will enable the company to achieve economies of scale in distribution. Established retailers such as supermarkets have branches in all parts of the country, which will enable the company to reach a large number of customers at a low cost.Advertising We will write a custom research paper sample on Organic Agriculture Business Model Canvas specifically for you for only $16.05 $11/page Learn More Second, the partnership will enable the company to acquire the customers of its partners.1 For instance, customers who purchase consumer goods in supermarkets are also likely to buy organic foodstuffs during their routine shopping activities. This will facilitate quick market penetration. Finally, the partnership will reduce the risk of overtrading.2 Since the company has limited funds, it will lack adequate working capital if it invests in establishing its own retail outlets in the first two years. This risk will be prevented by collaborating with independent distributors (retailers). Collaborating with consultants who have expertise and experience in organic agriculture will help in eliminating uncertainties when making production decisions. The consultants will assist the farm manager to select the best farming methods in order to achieve the desired production level and product quality. Developing long-term partnerships with suppliers will enable the company to benefit from reliable access to farm inputs. This will help in preventing interruption of the production calendar, which may occur due to limited availability of key inputs such as seeds. Key Suppliers The main suppliers of the business will include landowners, manufacturers of farm inputs, and the Municipality of Abu Dhabi. The business will have to establish long-term relationships with landowners in order to access adequate land for its farming activities. The Municipality of Abu Dhabi will be the main supplier of water for irrigation. The municipality is a key supplier because access to water will determine the farm’s output level. The municipality has a high bargaining power since there are no substitute sources of water for farming in Abu Dhabi.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In this regard, the company will focus on water conservation in order to avoid shortages. It will also endeavor to pay its water bills in time in order to avoid disconnections. The products of suppliers of farm inputs will determine the quality of the organic foodstuffs that will be produced by the company. Therefore, farm inputs will be purchased from suppliers who differentiate their products by using organic raw materials to manufacture key supplies s uch as pesticides and fertilizers. This strategy will enable the company to use the right farm inputs in order to obtain the best results.3 Key Resources from Partners The most important resources that will be obtained from partners include production/ farming technology, land, farm inputs, and distribution services. Effective farming technology is a major determinant of success in organic farming, especially, in Abu Dhabi where natural resources such as land and water are scarce. Thus, the company will collaborate with consultants and independent research institutions to acquire the best organic farming technologies. The company will only be able to achieve its production objectives if it can access fertile land in Abu Dhabi. However, access to land is likely to be a challenge in future due to the expected increase in urbanization and industrialization. As the demand for land increase, the cost of leasing or purchasing it will rise significantly. Thus, the company will focus on pur chasing land in the medium term to avoid the expected increase in lease fee in the long-term. Key Activities Performed by Partners Consultants will provide technical advice to the company concerning the farming methods that it should adopt to achieve its business objectives. This will include provision of services such as testing soil and water quality.Advertising We will write a custom research paper sample on Organic Agriculture Business Model Canvas specifically for you for only $16.05 $11/page Learn More The consultants will also lead the company’s research and development projects. They will conduct periodic research activities on behalf of the company to facilitate innovation. The outcome of the research activities will be used to improve the company’s farming activities. The key responsibility of retailers will be to distribute the company’s organic foodstuffs. This will involve selling the products directly to customers. They w ill also collaborate with the company’s sales team to conduct marketing activities such as merchandising. The retailers will collect valuable feedback from customers through their sales and marketing systems. The feedback will enable the company to understand customers’ tastes and preferences. Suppliers will provide the materials and equipment that will be needed to produce organic foodstuffs. These include seeds, fertilizers, pesticides, greenhouses, and irrigation equipment. The suppliers will be responsible for installing and maintaining key resources such as greenhouses and irrigation equipment to avoid failure. Figure 1 and 2 show the type of greenhouse and drip irrigation equipment that will be used for farming. The company will also collaborate with certain suppliers to produce differentiated farm inputs. For instance, it will collaborate with producers of seeds to develop seedlings that suit its quality standards and farming needs. Figure 1: Greenhouse Advertis ing Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Figure 2: Irrigation equipment Key Activities Value Proposition The company’s value proposition is to produce and sell high quality organic foodstuffs in Abu Dhabi and other parts of the UAE. Delivering this value proposition requires the following activities. To begin with, the company will be directly involved in organic farming. This will involve producing a variety of organic fruits and vegetables. In the long-term (the next ten years), the company will diversify its brand portfolio by processing and distributing fresh fruit juice. Sourcing and procurement of various supplies will be required to create the value proposition. The company will source the best seeds in order to produce organic foodstuffs with high nutritional value. Once the company begins to process fresh fruit juices, it will collaborate with other producers of organic foodstuffs to obtain adequate supply of fruits. This will help in scaling up production to cater for increased demand for fruit juices. Th e company will also establish training and capacity building programs to improve its employees’ ability to focus on best practices in organic farming. The training programs will target the farm workers. Specifically, on-the-job training and off-the-job training programs will be provided to workers to improve their skills and knowledge in organic farming.4 In the long-term, the company will extend the training programs to its employees who will be involved in manufacturing fresh juices. In this case, the objective of the training programs will be to promote product and process innovation. Distribution Supermarkets will be the main distribution channel through which the company’s products will be sold in the short-term. In the medium term, the company will establish its own retail outlets to supplement the sales from supermarkets. Distributing the products through these channels will require the following activities. The first activity will be to build a network of retai lers to distribute the products. The company will use selective distribution to reach its target customers. Selective distribution involves using several but not all outlets that are available in a given geographical area to reach customers.5 In this regard, the company will collaborate with retailers who are known for quality, affordability, and reliability to maintain a consistent brand image. The main advantage of using selective distribution is that it will enable the company to select the best performing retailers, thereby avoiding the risk of wasting scarce resources in developing non-performing distributors. Selective distribution is also appropriate because consumers of organic foodstuffs often shop around to find the best products from reliable retailers. Supply chain management is the second activity that will be required to distribute the products. The supply chain activities that will be performed are summarized in figure 3. Figure 3: Supply chain activities The first s upply chain activity will be to procure the best farm inputs from reputable suppliers. The next step will involve using the farm inputs to produce various organic fruits and vegetables. After harvesting, the fruits and vegetables will be transported to the company’s warehouse where they will be cleaned and packaged according to retailers’ requirements. From the warehouse, the company will transport the products directly to retail outlets where they will be sold to customers. The company will focus on reducing the time required to transport the fruits and vegetables from the farm to the retailers to preserve their freshness and natural tastes. The company will maintain long-term relationships with members of the supply chain to ensure effective production and distribution of its products.6 Coordination of the supply chain activities will be done by the company using business-to-business e-commerce platforms. This will help in reducing the cost of managing the supply cha in. Customer Relationships The company will use the social media to build relationships with customers (consumers of organic food). Specifically, it will use Facebook, Google+, and Twitter to engage the customers in conversations about its products. The aim of the conversations will be to provide vital information to customers such as the stores where the products will be sold and the health benefits of consuming them. The company will also participate in events such as agricultural trade fairs and seminars to build strong relationships with consumers of organic foodstuffs. Revenue Streams The company’s main source of revenue will be production and distribution of organic fruits and vegetables. The main activity that will be required in this revenue stream will be obtaining as many sales orders as possible from retailers. In order to secure large orders, the company will negotiate for adequate floor space in the retail outlets to boost sales. The company will also use its mar keting communication mix to promote sales through the retail channel. Specifically, it will use advertising, merchandising, and loyalty programs to motivate potential customers to purchase its products. As sales increase in the retail outlets, the company will receive large orders. This will improve the chances of achieving the revenue and profitability targets that have been set for the short and medium term. Key Resources Value Proposition The key resources that are required to deliver the company’s value proposition include the following. First, adequate human resources will be required. Specifically, the company will require cheap and reliable supply of labor to produce organic foodstuffs. The farm workers will require adequate skills and knowledge on various farming activities such as planting and controlling pests in order to create value to the company. Generally, access to cheap labor will reduce the cost of production. The resulting cost savings will be used to suppo rt innovation initiatives to improve product quality. In addition, the savings will enable the company to sell its products at a competitive price in order to overcome competition. Second, financial resources will be required to deliver the desired value proposition. Organic agriculture is capital intensive because it is based on advanced farming technologies.7 For instance, the company will require adequate funds to install and run an effective irrigation system. It will also have to purchase and use greenhouses to protect the crops from adverse weather conditions such as very high temperatures and strong wind. Moreover, the company will have to finance research activities in order to produce crops whose qualities meet the expectations of consumers. In this regard, the company will raise capital from different sources to meet its cash requirements. In the short and medium-term, the company will depend on the capital contributed by its owners and retained earnings to finance its act ivities. It will also obtain credit from local commercial banks to supplement its internal sources of funds. In the long-term, the company will raise venture capital to finance expansion activities such as extending its product line and joining new markets. Third, the company will require intellectual capital to deliver its value proposition. Intellectual capital refers to the information and knowledge resources that can be employed to improve profits, acquire new clients, develop new products, and reduce operating costs. The knowledge and information that will be required to produce and market the company’s products will be obtained from internal and external sources. The company’s employees will be the main internal source of information and knowledge. The employees’ expertise in organic farming will be leveraged through staff development and training programs. Consultants and independent research partners will be the main external sources of information and k nowledge. They will use their expertise and experience to advise the company on the best farming practices that it has to adopt to deliver its value proposition. Distribution Channels The main resources that will be required to distribute the products include employees with the right skill set in sales and marketing, as well as, physical assets such as delivery trucks and sales premises. Talented employees will be required to assist customers at the retail outlets to boost sales. In addition, the marketing team will require adequate knowledge of the market in order to develop the right marketing strategies. Although the company will hire employees with expertise in sales and marketing, it will also focus on developing talent internally to improve the effectiveness of its distribution system. Customer Relationships Market intelligence is the main resource that will be required to develop relationships with consumers of organic foodstuffs. The company will also need an effective custo mer relationship management (CRM) system to develop strong relationships with the retailers. Market intelligence refers to external data or information that shed light on market dynamics such as changes in customers’ tastes and preferences.8 Market intelligence will be obtained through marketing research, which will be conducted biannually. The results of the marketing research will help in building relationships with consumers by providing information that will facilitate product development. The company will use an online CRM system to improve its relationship with retailers. The system will capture vital information such as the types of products that the retailers prefer to stock, payment history, and the size of orders made by various retailers. This information will help in understanding the needs of the retailers. As a result, the company will be able to address the retailers’ needs in time in order to improve its relationship with them. Value Proposition The com pany’s value proposition will focus on three areas namely, risk reduction, affordability, and cost reduction. The company will help consumers to reduce the negative health effects of eating processed foods, inorganic vegetables, and genetically modified foodstuffs. Empirical studies indicate that these foodstuffs cause diseases such as cancer, obesity, and diabetes. In the UAE, the prevalence of lifestyle diseases such as obesity and diabetes is very high. The diseases account for nearly 20% of the deaths in the country every year.9 Scientists have proved that organic foodstuffs help in preventing diseases such as cancer, obesity, and diabetes. It is against this backdrop that the company will focus on producing organic foodstuffs with high nutritional value to enable the residents of the UAE to maintain healthy lifestyles. Figure 4 shows the organic vegetables (tomatoes) that will be produced. Figure 4: Organic tomatoes The company will also help consumers to eliminate the risk of eating substandard or contaminated foods. In order to achieve this objective, the company will endeavor to meet all the quality standards that have been set by Abu Dhabi Food Control Authority. It will also strive to meet international quality standards that are used in the global food industry. These include Global G.A.P certification, organic product certification, and ISO certification.10 Achieving these certifications means that the company will have to comply with high food quality standards. As a result, it will supply safe foodstuffs that consumers can trust. Affordability is one of the major factors that determine access to organic foodstuffs in the UAE. Organic foodstuffs are often expensive in the country due to high importation and production costs. The company will create value to customers by adopting low cost production technologies to reduce the prices of organic food in the UAE. In addition, the company will eliminate importation costs by producing organic fo od within the country. The resulting reduction in retail prices will enable many customers to afford organic foods. The company will also create value to retailers by reducing the costs that they would incur to source high quality organic foodstuffs. The cost of producing and delivering the products at the retailers’ premises will be borne by the company. Moreover, the retailers will not incur additional monthly costs since they will be using their existing employees and floor space to sell the products. The cost savings coupled with increased revenue will improve the retailers’ profits. Customers’ Problems The company’s main objective will be to address consumers’ health needs. Apart from addressing this need through production of organic foods, the company will integrate the ‘healthy living’ campaign in its marketing programs. One of the factors that explain the low consumption rate of organic foodstuffs is lack of adequate informati on concerning their health benefits.11 The company will bridge the knowledge gap by using public relation initiatives such as press release to educate the residents of the UAE on the importance of eating organic foods. The company will also collaborate with non-governmental organizations (NGOs) that promote healthy living to provide public education on the health benefits of organic foods. As the public becomes more informed, the consumption of organic food will increase. This will reduce the prevalence of lifestyle diseases while improving the company’s revenues. Products The company targets three market segments. These include the working class, the affluent, and individuals who are already suffering from chronic lifestyle illnesses. The working class and individuals who are suffering from lifestyle diseases have similar needs. In particular, people who are working are interested in preventing the diseases that they are likely to acquire due to their sedentary lifestyles. S imilarly, those who have already acquired lifestyle diseases are interested in healthy living to prolong their lifespan.12 In this regard, the company will serve the two market segments by supplying organic fruits and vegetables with high nutritional value. The same products will be supplied in the affluent market segment where consumption of high quality organic foods is the norm. However, the affluent will benefit from additional services such as ability to make large purchases directly from the farm. In this case, the products will be delivered directly to the consumer’s premise. These personalized services will enable the company to charge premium prices in the affluent market segment to improve its profits. Customer Needs The company will satisfy the following needs in the market. In the consumer market, the company will address the customers’ need for newness and accessibility. The residents of the UAE need to break away from the tradition of eating imported inor ganic foods that are often contaminated and have low nutritional value. The company will enable consumers to access fresh in-season fruits and vegetables to meet their dietary needs. In the affluent market segment, supplying high quality fruits and vegetables will enable customers to express their social status. Specifically, the high product quality will create an aura of luxury, which the affluent need to maintain their social status.13 Customers who are working have little time to spend on shopping for their groceries. Thus, they need to purchase their groceries in convenient places to save time. The company will address this need by collaborating with retailers whose outlets are located in strategic places within the central business districts of urban areas. This will help customers to access the products easily. The company will also use retailers’ online sales platforms to sell its products. Online shopping solutions will enable busy customers to purchase the organic f ruits and vegetables without visiting physical stores. The retailers’ main need is to access reliable supply of high quality organic foods. In order to address this need, the company will employ big data analytics to study consumers’ purchasing behavior. This strategy will enable the company to predict the types and quality of products that customers are likely to purchase in specific geographical areas. A clear understanding of purchasing patterns will help in ensuring effective capacity planning. As a result, the company will be able to supply adequate products to satisfy retailers’ sales needs. Generally, a reliable supply will enable retailers to retain their customers and to improve their revenues. Customer Relationships Expected Relationships Consumers of organic foods expect personal assistance within the retail stores. Customers often need adequate product information before making a purchase decision. For instance, new customers would want to access inf ormation on issues such as the products’ origin, their quality, and their prices. Customers normally expect to find this information from sales personnel within the supermarkets. In addition, customers need assistance with purchasing activities such as weighing the fruits and vegetables or selecting the right products. Old customers and expats who are not able to understand Arabic are likely to seek assistance from sales personnel who can speak in English. By contrast, young and well-informed customers expect self-service in supermarkets. They expect the retailer to display a wide variety of products on the shelves so that they can make appropriate choices. Retailers, on the other hand, expect automated services. They expect to maintain their relationship with the company using e-commerce business-to-business platforms. This will enable them to access automatic services such as placing orders, making inquiries about product availability, and making their payments. Retailers p refer e-commerce systems because they reduce operating cost and improve communication among trading partners. Retailers also expect to maintain a close relationship with a dedicated personal assistance. They expect the company to assign one contact person who will be responsible for handling their inquiries and managing their accounts. Established Relationships The company has made provisions for both self-service and personal assistance to improve its relationship with the consumers. The sales area will have at least two sales associates to assist the customers with the purchase process. The associates will provide all the information that customers need to make purchase decisions. They will also assist with activities such as product selection. The company will also collaborate with the retailers to design the sales floor in a manner that promotes self-service. This will include creating enough space between shelves to facilitate movement. The company’s merchandisers will e nsure that the products are displayed in an attractive manner and vital information such as prices and product descriptions are clearly indicated as shown in figure 5. These initiatives will enable customers to shop without seeking assistance. Figure 5: Sales floor Since the company will be using online supply chain management (SCM) and CRM systems, the retailers will be able to access automatic services. The online SCM system will handle activities such as placing orders, sharing transaction information, and making payments. The online CRM system, on the other hand, will be used to handle retailers’ inquiries by providing the information that they need to sell the products. A dedicated accounts manager will be hired to maintain strong relationships with the retailers. The accounts manager will address the needs of the retailers such as ensuring timely processing of orders and delivery of products. Cost of the Relationships Automatic and self-service will require high initia l capital to build the infrastructure. For instance, the company will have to hire an IT company to create and install an effective e-commerce system. Similarly, redesigning the sales floor to facilitate self-service might require a substantial amount of money. However, providing automatic and self-service will be cheap in the long-run since the company will not incur additional costs to deliver them.14 Maintaining relationships with customers through dedicated personnel is likely to be expensive in the short-run when sales are expected to be low. For instance, the company will have to pay the accounts manager on a monthly basis. However, the expected increase in sales in the medium term and long-term will justify the cost of providing personalized services to consumers and retailers. Channels Customers expect to be reached through a variety of media platforms that are easy to access. In addition, they expect the company to distribute its products through distribution channels that are easy to access. Thus, the company will reach the customers in the following ways. To begin with, it will create awareness about its products through advertising. The adverts will be aired on popular TV and radio channels. Moreover, the adverts will be posted on popular magazines and newspapers to reach as many customers as possible. Given the high penetration rate of smartphones and computers in the UAE, the company will also use the social media to create awareness about its products. The company will assist customers to evaluate its value proposition by requesting them to fill out feedback forms that will be available at the retail outlets. Customer complaints forms and suggestion boxes will also be available at the retail outlets to enable customers to convey their concerns to the company. Customers will also have the opportunity to raise their concerns about the products through online communication channels such as email. Consumers will have the opportunity to purchase the products through three channels. These include select supermarkets, the company’s retail outlets, and retailers’ online stores. The main objective of using the three channels is to increase brand visibility. Specifically, it will enable as many customers as possible to access the products. For instance, large supermarkets can reach customers in nearly all parts of the country. Direct deliveries will be made to customers who will make online purchases. The distribution channels will be integrated both vertically and horizontally. Vertical integration will be achieved after the company establishes its own retail outlets to sell its products directly to the customers. Horizontal integration will be achieved through cooperation with independent retailers to sell to customers. The main advantage of vertical integration is that it will enable the company to have more control over its products. It will enable the company’s sales executives to use their vast product kno wledge to provide excellent customer service. Vertical integration will also enable the company to eliminate the costs associated with using third party distribution channels. For example, the company will not have to share its revenue with the retailers if it has its own distribution system. As a result, the company will make high profits. Horizontal integration, on the other hand, will enable the company to save the cost of establishing a nationwide distribution system. This will prevent liquid constraints that the company might face in the short-run. Customer Segments Selected Segments The company will focus on creating value for the mass market, which has a huge sales potential due to its large size. Undoubtedly, every person in the UAE is interested in high quality foodstuffs. This means that revenues can be maximized by targeting all customers who are able to afford organic fruits and vegetables. The mass market consists of the individuals who will be purchasing the companyâ⠂¬â„¢s products for personal consumption. The working class and people who are interested in healthy living will be considered as part of the mass market. The company will also serve the niche market to improve its profitability. The niche market consists of the affluent, as well as, fine restaurants and hotels. In the last decade, hotels and restaurants in the UAE have embarked on serving organic foods to demonstrate their commitment to sustainability by promoting organic agriculture. The hotel and restaurant market segment is expected to grow in future as economic performance of the country improves. The company intends to take advantage of this growth by producing organic fruits and vegetables for the hotel and restaurant industry. Most Important Segment The mass market will be the most important segment, which the company expects to be its main source of revenue. This perspective is based on the fact that household expenditure on groceries tend to be stable throughout the year. Households are not likely to reduce their expenditure on food unless the economy suffers a shock that has negative effects on consumption in the private sector.15 In this regard, the company expects a steady growth in sales in the mass market. The niche market, on the other hand, is characterized by fluctuations in demand. Sales are high during the summer and holiday seasons when individuals and families prefer to eat in restaurants and hotels rather than their homes. Sales are also high during events such as the Dubai Shopping Festival and trade fairs that attract visitors from other countries. However, sales decline significantly during the winter when families prefer to remain indoors. Nonetheless, hotels and restaurants are important customers because of their ability to make large purchases. They are also willing to pay premium prices to access high quality organic fruits and vegetables. Revenue Streams Customers in the food industry are willing to pay for freshness, high nutri tional value, and high hygiene standards. Currently, customers are only paying for convenience due to the limited supply of organic foods that meet their expectations. Specifically, customers are forced to purchase the foodstuffs that are available in the market irrespective of their quality standards due to lack of substitutes. Since customers are willing to pay for high quality, the company will focus on selling organic fruits and vegetables as its main revenue stream. Nearly, 90% of the company’s revenue will be attributed to product sales due to limited investment in alternative businesses. The company has strategically chosen to focus on product sales since producing organic fruits and vegetables is its core competence. The company will focus on serving markets in different geographical areas in order to avoid the losses that it would make by serving only one market. Product sales will be based on dynamic pricing. This pricing strategy involves setting prices according t o market conditions. For instance, during high demand seasons the company will increase its prices to ration the limited supply of its products. However, it will reduce the prices during the low demand seasons to attract and retain customers. Dynamic pricing will enable the company to achieve its marketing objectives. For instance, price reductions will facilitate expansion of the market share. Apart from product sales, the company will generate revenues through asset sale and leasing. Idle assets will be sold so that the company can use the proceeds to finance key business processes such as product development and marketing. The assets will be sold through negotiations to enable the company to obtain the best deal. The company will also lease farm equipment and land when they are not in use. The lease fee will improve the company’s returns on assets. Fixed pricing will be used to lease the assets. In particular, the lessee will pay a predetermined price that will not be chan ged during the lease period. Cost Structure The business model will be cost driven because organic farming is associated with significant fixed and variable costs. The fixed costs will include the salaries of farm workers, consultancy fee, warehousing, and lease fee. The company has to achieve economies of scale in production in order to reduce the negative impact of the fixed costs on its profits. The variable costs include expenditure on farm inputs, water for irrigation, electricity, marketing, and transportation. The most important fixed costs include lease fee, constancy fee, and salaries. The company has to pay lease fee in order to access adequate land for farming and premises to sell its products. Similarly, it has to pay the workers to perform various farming activities such as planting and nurturing the crops. Consultancy fee is also important since the company will require external expertise to improve its productivity. Nearly all variable costs are important. The company has to purchase farm inputs and spend on marketing and transportation in order to deliver its value proposition. Land is the most expensive key resource. The company will spend at least AED 250,000 annually to lease five acres of land in Abu Dhabi. The high lease fee is attributed to the ever-increasing demand for land in the country. Greenhouses are also very expensive. At least AED 78,516 will be required to purchase three greenhouses in the first year. However, expenditure on greenhouses is expected to reduce in the medium-term. This expectation is based on the fact that new greenhouses can be used effectively for up to four years.16 Increased competition among suppliers is likely to reduce the cost of greenhouses in future. Farm inputs are also key resources that are very expensive. The annual expenditure on farm inputs is expected to average AED 45,000. Inadequate food supply in the global market will increase the prices of farm inputs as farmers focus on increasing their prod uctivity. Irrigating the farmland will be the most expensive activity. At least AED 65,000 will be spent annually on irrigation. The high cost is attributed to the water shortage in Abu Dhabi. The Municipality of Abu Dhabi charges high prices to discourage wastage of water. Marketing is another expensive activity that the company will have to invest in to reach its customers. Marketing cost is expected to average AED 32,000 in the first three years. The expected improvement in economic growth will boost business activities, thereby increasing demand for advertising services. This will increase the cost of advertising in the medium-term. In sum, the high fixed and operating costs call for implementation of effective cost reduction measures. Some of the measures that the company will implement to reduce costs include recycling wastewater and using cheap digital marketing platforms such as the social media. Bulk purchases will enable the company to reduce the cost of acquiring farm inp uts. In addition, optimizing the production capacity will help in achieving economies of scale, which in turn will reduce the overall cost of production. Bibliography Al-Awadhi K J Taylor, ‘Food safety challenges and initiatives in the Dubai hospitality industry’, Worldwide Hospitality and Tourism Themes, vol. 3, no. 5, 2011, pp. 443-449. Brun A C Castelli, ‘The nature of luxury: A consumer perspective’, International Journal of retail and Distribution Management, vol. 41, no. 11, 2013, pp. 823-847. Cahill S D Powell, ‘Coverage of organic agriculture in North America newspapers: Media linking food safety, the environment, human health, and organic agriculture’, British Food Journal, vol. 112, no. 7, 2010, pp. 710-722. Cant M W Strydom, Marketing management, McGraw-Hill, New York, 2009. Drummond G R Ashford, Strategic marketing, Oxford University Press, London, 2010. Fossel P, Organic farming, Palgrave, London, 2007. Frasha C, Organic farmi ng: The ecological system, McGraw-Hill, New York, 2009 Grewel D M Levy, Marketing, McGraw-Hill, New York, 2011. Huylenbroek G J Aertsens, ‘The added value of organic farming for environment and health: facts and consumer perceptions’, British Food Journal, vol. 111, no. 10, 2009, pp. 340-350. Kafetzopoulos D E Psomas, ‘Quality systems and competitive performance of food companies’, International Journal of Benchmarking, vol. 20, no. 4, 2013, pp. 463-483. Kazmi S, Marketing management, Sage, London, 2007, p. 56. Mohammed L V Sahay, ‘Supply chain partners’ trust building progress through risk evaluation: the perspectives of UAE packaged food industry’, International Journal of Supply Chain Management, vol. 14, no. 4, 2009, pp. 280-290. Musaiger A B Bener, ‘Lifestyle factors associated with obesity among male university students in the United Arab Emirates’, Nutrition and Food Science, vol. 33, no. 4, 2013, pp. 145-147. Jo n N, Profitable organic farming, Routledge, New York, 2008. Tung S Y Chen, ‘Attitudinal inconsistency towards organic food in relation to purchasing intention and behavior’, British Food Journal, vol. 114, no. 7, 2012, pp. 997-1015. Footnotes 1D Grewel M Levy, Marketing, McGraw-Hill, New York, 2011. 2S Kazmi, Marketing management, Sage, London, 2007, p. 56. 3P Fossel, Organic farming, Palgrave, London, 2007. 4M Cant W Strydom, Marketing management, McGraw-Hill, New York, 2009. 5G Drummond R Ashford, Strategic marketing, Oxford University Press, London, 2010. 6L Mohammed V Sahay, ‘Supply chain partners’ trust building progress through risk evaluation: the perspectives of UAE packaged food industry’, International Journal of Supply Chain Management, vol. 14, no. 4, 2009, pp. 280-290. 7N Jon, Profitable organic farming, Routledge, New York, 2008. 8S Cahill D Powell, ‘Coverage of organic agriculture in North America newspapers: Media linking food safety, the environment, human health, and organic agriculture’, British Food Journal, vol. 112, no. 7, 2010, pp. 710-722. 9A Musaiger B Bener, ‘Lifestyle factors associated with obesity among male university students in the United Arab Emirates’, Nutrition and Food Science, vol. 33, no. 4, 2013, pp. 145-147. 10D Kafetzopoulos E Psomas, ‘Quality systems and competitive performance of food companies’, International Journal of Benchmarking, vol. 20, no. 4, 2013, pp. 463-483. 11G Huylenbroek J Aertsens, ‘The added value of organic farming for environment and health: facts and consumer perceptions’, British Food Journal, vol. 111, no. 10, 2009, pp. 340-350. 12S Tung Y Chen, ‘Attitudinal inconsistency towards organic food in relation to purchasing intention and behavior’, British Food Journal, vol. 114, no. 7, 2012, pp. 997-1015. 13A Brun C Castelli, ‘The nature of luxury: A consumer perspective’, Internati onal Journal of retail and Distribution Management, vol. 41, no. 11, 2013, pp. 823-847. 14Kazmi, p. 78. 15K Al-Awadhi J Taylor, ‘Food safety challenges and initiatives in the Dubai hospitality industry’, Worldwide Hospitality and Tourism Themes, vol. 3, no. 5, 2011, pp. 443-449. 16C Frasha, Organic farming: The ecological system, McGraw-Hill, New York, 2009

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