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Fair Trade Jewellery
Abstract
This reports aims at establishing the manner in which Fair Trade Jewellery can be mainstreamed. A brief history is described in this paper that clearly looks at the emergence of Fair Trade Jewellery. Additionally, the report also draws an analysis on the challenges the jewelers face in the process of Fair Trade and concludes by giving some thoughtful insights on how this approach may be improved.
Introduction
The purpose of this report is directed towards discovering the manner in which Fair Trade Jewellery can be mainstreamed. The aspect of fair trade Jewellery emerged as one of the responses aimed at tackling the discrepancies that have existed in the current global trade systems that is entirely based on the concepts of free trade. This aspect has evolved to see small organizations buying products from different producers in developing states and selling these products to their acquaintances through a global movement which primarily bases its campaigns of the benefits of such trade networks economies (Alvarado, 2009).
This segment therefore aims at analyzing the manner in which fair trade Jewellery may be mainstreamed or if this aspect of destined as a niche market. Additionally, the section will take an analysis of some of the challenges that jewelers face with the aim of making this a reality.
The Mainstreaming of Fair Trade Jewellery
It is clear to determine the fact that Fair Trade Jewellery offers practicable support directed towards combating the aspect of poverty and approaches that offer structural change on the unjustified trade relations (PR, 2015). The mainstreaming of Fair Trade Jewellery can in this case be depicted as the process of Fair Trade Jewellery economic actors developing approaches aimed at moving from a fully operation of Fair Trade value chain to the increase of operation in conventional market value chain. In achieving the goals of mainstreaming, the introduction and inclusion of product certification is considered, a factor that opens up possibilities for value chains with other mainstream actors.
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A fair approach of trade in this case is one that is characterized by approaches aimed at ensuring that both the social and environmental standards are adhered to, with this considered as an effective approach that ensures the sustainability of the environment and other livelihoods. However, it is essential to also consider the extent at which sustainable use of the environment and sustainable livelihood can be viewed (Jeevananda, 2015).
Fair-trade Jewellery production is one that has several defining elements that include the making of products from different materials. On the other hand, the producer organizations tend to operate in a highly segmented market where products are considered to be relatively expensive and are high in quality with most of the sales of these products done in the Western countries.
Additionally, it is vital to point that organizations that engage in Fair Trade Jewellery have a social mission with profit considered as not the only goal of the operations. In consideration of the aspect of mainstreaming, it is vital to note that organisations are required to comply with the Fair Trade criteria’s (Boyd, 2014). Mainstreaming in this case creates the opportunity for these organizations to increase their sales, spread the risks noted in the industry and learn the different enterprenual skills that come from mainstreaming enterprises.
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Challenges that Jewelers Face
Considering the fact that Fair Trade jewelries sales continue to grow as a result of the growth in new geographical markets, few consumers are in a position to pay the much required for the products, a factor that points out to some of the challenges that this jewelers face (Child, 2015).
It can therefore be argued that since more consumer are not willing to pay the prices for the developed product that would ensure Fair Trade standards are meet within the value chain, then growth in this industry is considered as impossible. On the other hand, several handicraft markets are also characterized by the oversupply and the aspect of poor economic prospects, a factor that has been considered as the reasons why price variables can be viewed in the industry.
Conclusion
This report has clearly discovered that the aspect of fair trade Jewellery emerged as one of the responses aimed at tackling the discrepancies that have existed in the current global trade systems that is entirely based on the concepts of free trade. Fair Trade Jewellery offers practicable support directed towards combating the aspect of poverty and approaches that offer structural change on the unjustified trade relations (Child, 2015).
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The mainstreaming of Fair Trade Jewellery can in this case be depicted as the process of Fair Trade Jewellery economic actors developing approaches aimed at moving from a fully operation Of Fair Trade value chain to the increase of operation in conventional market value chain. In achieving the goals of mainstreaming, the introduction and inclusion of product certification is considered, a factor that opens up possibilities for value chains with other mainstream actors. Some of the challenges that the jewelers encounter in this industry include the, few consumers being in a position to pay the much required for the products.
Jeevananda, S. (2015). Effectiveness of Market Development Assistance Scheme In Handloom And Gems And Jewellery Sectors In India. Scholedge International Journal Of Management & Development, 2(8), 37-50.
PR, N. (2015, December 8). Singapore Jewellery & Gem Fair 2015: A Triumphant Chapter for International Fine Jewellery. PR Newswire US.
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Abstract
This report therefore seeks to examine the role of the civil society in ensuring a qualitative EITI report. This can be seen in the manner in which revenues generated from the minerals and oil is in this case utilized in the transformation of different economies with the aim of reducing poverty and raising the standards of living for different population in resource-rich nations.
The Role of Civil Society in Ensuring a Qualitative EITI Report
Introduction
The purpose of this report is to establish the involvement of the civil society in determining an EITI qualitative reporting. The paper will critically establish the functions of the civil society the process of EITI qualitative reporting. It is vital to consider that states that incorporate the element of EITI make a commitment to strengthen the aspect of transparency in the revenues generated from its natural resource revenues. The citizens of these states are also accorded the responsibility of holding the state and the government accountable on how these resources are dispensed (Disclosure as Governance 2010). This aids in the building of prosperous and stable societies that function in an effective manner in the global economy.
On the other hand, much of ETI’s development is owed to the civil society. This clearly depicts the fact that without the existence of the civil society, ETI would not be functional. This is attributed to the fact that the civil society makes concerted advocacy approaches that sees the extractive companies publish their payments to the host governments. Consequently, close to 400 civil society organizations have been committed to the participation of governance through the implementation of ETI in resource rich states around the globe (Sovacool, & Andrews, 2015).
ETI in this case incorporates and approach of governance that advances the element of revenue transparency within the mining, gas, and oil sector through an approach that stresses the need of multi-stakeholder approach with integrated roles of the civil society, the governments and extractive companies (Topal, & Toledano, 2013). Thus the key elements of the success of this approach lies in the ability of developing dialogue that fosters the collaboration between different players in the development, monitoring and evaluation of EITI process. The engagement and functions of the civil society occurs in its approach aimed at overseeing the implementation of EITI in countries and within the international EITI board (Lehrer, & Delaunay, 2009).
EITI Background
In 2002, at the World Summit for Sustainable Development, United Kingdom’s Prime Minister Tony Blair launched the EITI process as the future global transparency standard. As a coalition of different stakeholders came together, expectations were heightened towards believing that through governance and accountability, nations, companies and other players in the economy would improve their share of revenues being spent on economic growth and poverty reduction.
In this case, the process of EITI has been promoted in international development agendas as an instrument that will finitely establish and develop the resource-rich countries to reap the benefits of their resource endowments, a factor that has exhibited excessive expectations about the impact it could have. The G8 has critically emphasised its support for the EITI process, by initiating effective approaches aimed at improving its transparency, accountability, and good governance and thereby leading to sustainable economic growth in the extractive sector.
The EITI Principles
According to Aaronson (2011), the EITI principles were first initiated in conferences that were held in London in 2003. During these conferences, several states, investors and civil society organizations reaches a consensus on the principles that were required in order to establish transparency over the payments of revenues in the extractive sector (Murphy, 2012).
The EITI aspect holds on the belief that prudence should be a key aspect in the use of natural resources for the development of a sustainable economy and development that would in turn impact poverty reduction approaches (Aaronson, 2011). If the proponents of EITI are not fairly management, this would result in a negative economic and social impact.
EITI on the other hand acknowledge the initiatives directed towards managing wealth that is gained from natural resources with the aim of benefiting the citizens of a state within the domains of sovereign governments, a factor that needs to be initiated within the interests of a national state (Sovacool & Andrews, 2015). EITI also takes into consideration the benefit accrued from the extraction of mineral resources, occurring over a revenue stream for a period of time, a factor that depicts the high dependency on the prices (Aaronson, 2011).
Benefits for Local Communities and Civil Society Organisations
The local community is considered to be the single most beneficiary of the benefits that arise from the increases in revenues. This can be viewed in the efforts that have been developed to ensure resource accountability through good governance, and justice, with the aim of mitigating the element of corruption are promoted and reinforced (Aaronson, 2011). The civil society organizations are also considered as part of the beneficiaries of these efforts as seen in the improved relations developed to influence governments and companies in the process. This can be viewed in their efforts directed towards:
Increasing the opportunities aimed at building and strengthening different networks with the international organizations and investors.
Strengthening public institutions.
Enhancing governance and citizens who are aware of the empowerment.
The climate of transparency is one that ensures the civil society groups are empowered. An instance of this can be viewed in the implementation of EITI that facilitates the public participation in governance and improves the access to information for civil societies. The local community is aimed at profiting from the increases in revenues. The element of justice, accountability, good governance are promoted and reinforced with the aim of mitigating corrupt practices during the process (Aaronson, 2011).
The Role of Civil Society in EITI Reporting
As argued, the solid involvement and participation of the civil society is considered as essential since it has the capacity to better implement and a reinforce the initiation of a high quality EITI reporting approach. Participation of the civil society needs to be observed in the delivery of EITI results that go beyond the principles of dialogue and the dissemination of reports (PR, 2013). Engagement of the civil society’s in ensuring a qualitative EITI report occurs at different levels that include: the international EITI Boards and the states that implement the EITI process as part of the multi-stakeholder groups that have the capacity to oversee the EITI (Holden, & Jacobson, 2007).
The civil society as attributed in the process has the powers and initiative to discuss and establish the genuineness of the aspects of revenue transparency and increasingly contribute their experiences and expertise in fostering dialogues with different stakeholders. In some states, the civil society groups are considered to be in the forefront in popularizing EITI. In other regions, the civil society works in supporting legislative processes that are directed towards the strengthening and advancing of the states the agendas on resource and revenue transparency (Holden, & Jacobson, 2007).
This clearly depicts that the role of the civil society has the capacity to monitor and engage in the implementation of national dialogue in addressing some of the issues that are not covered directly by EITI such as the use of revenues that are accrued from the extractive sector.
Experiences that emerge from the implementation of EITI clearly shows that the civil society groups are bound to face several challenges within a state’s level that include the lack of capacity constraints, the lack of resources and other security issues (Pal, & Pantaleo, 2008). EITI Board has a functionally developed range of policy responses that are determined in the strengthening of the EITI requirements aimed at ensuring the civil society groups are fully interdependent and are provided with the opportunity to get engaged within the stages of EITI process.
Within the context of governance and development, the civil society is considered as a third sector that is distinct from the business and government that are functioning as an intermediary institution in ensuring that the issues that deal with the interests of the public within the public domain are coordinated through advocacy (Pal, & Pantaleo, 2008). The goal of this is to ensure these issues are addressed and effectively implemented in order to serve the common interest and good of the society
The non-governmental organizations through their involvement and activities, strong beliefs and principled positions voice out their views and positions to the sectors of the society through an approach that promotes discussions, debates, and constructive engagements. These roles are developed to enrich the public’s participation in the decision-making process thus strengthening good governance, accountability and democratic principles (Frynas, 2010).
These reasons therefore determine the manner in which the concepts of EITI are developed and built through an approach that engages a multi-stakeholder approach. This approach involves several key players such as the government, the civil society and other companies who play different roles in the EITI process. The civil society plays an integral role in reforming the EITI process even in situations where these roles are unclear in several implementing countries. The roles of the civil society would also include:
Identification
The civil society organizations beside the aspect of dialogue also share the view that it is their responsibility to identify the key issues that are within the interest of the public and that relate to the mandate of the EITI process that are directed towards extractive revenue transparency, the process of governance and ensure that the identified issues are addressed and brought within the public domain for debate and dialogue (Calland, & Bentley, 2013). Some of the issues that the civil society organizations clearly focus on include the process of leasing, oil block allocations, bidding rounds, the issuance of mining licenses, physical, financial and process management, the environmental standards and so on.
Agenda Setting
The civil society is different states consider the aspect of agenda setting as their traditional responsibility and a primary tool of their engagement (Calland, & Bentley, 2013). Under these roles, the civil society organizations identify some of the issues that are related to the EITI mandate and use these issues to set national and international agendas for the publics discourse, debate and engagement with the governments and the extractive revenue companies with the aim of improving the aspect of governance through a transparent process and accountability that is done through the use of EITI frameworks.
Public Education and Enlightenment
The element of public education and enlightenment in this case is another role of the civil society even though individuals tend to think these needs to be left for the media alone (Shenton, & Hay-Gibson, 2009).
Agents of Social Mobilization and Change
The civil society organizations also makes use of the fact that for the process of EITI to secure the public’s interests required within the sector, there is a need of providing a supporting role-that of acting as the agents of social mobilization and change (Mejía Acosta, 2013). In this case, it is essential to consider that these roles include the sustained mobilization of the opinions of the public with the aim of advancing the course of the EITI process within the areas of legislative processes and policy formulations. These are known and have been considered to come in the form of peaceful protests, resource mechanization and petitions.
Monitoring and Oversight
It is additionally essential to consider that the civil society organizations are also tasked with the responsibility of monitoring the processes and programs of EITI including the policies and the unfolding events within the extractive sector and ensure that accurate reports and facts are provided with the view of directing the appropriate course of action that can improve the process of governance (Mejía Acosta, 2014). The monitoring and oversight in this case needs to be community based and people driven, In order to carry out these functions in an effective manner (Caspary, 2012).
Advisory
Advisory in this case gives the position of the civil society organizations as some of the professionals within this field that offer fair, profound, qualitative and constructive advice to the EITI processes and in the implementation of an effective EITI process (Mejía Acosta, 2014). The EITI Board in this case needs to be open to advices within the areas of their operations and publicly acknowledge the contribution of the civil society within the EITI process.
Whistle Blowing
The civil society remains in a better position to blow the whistle in the event that extractive revenue transparency functions of the EITI process are not clearly following their mandates. This would therefore see the civil society active is in the exposition of fraudulent practices, process lapses, bribery, corruption, and dishonest dealings with individuals at any stage within the EITI process (Magner, 2015). The functions of whistle blowing as conducted by the civil society may also be used to attract and draw the attention of the areas that have achieved poor performance and that have been neglected and the failures in the rise of statutory responsibilities (Mejía Acosta, 2014).
Observation
The civil society has the mandate of taking up the roles of being the observers within certain activities in the EITI process in consultation with the Board and the secretariat. These roles also include the formulation of procurement processes for some of the projects, budget preparations, the development of annual work-plans, and meetings held with the public in situations that are advisable (Eigen, 2013). In performing these roles, civil society organizations are considered to have the right to engage in independent reporting of these events and give EITI Board the opportunity to make their final comments on these reports before they are disseminated.
Feedback
The role of the civil society in providing feedback in this case is considered as essential and desirable within the processes of EITI (Mouan, 2010). Many of the civil society organizations in this case draw from professional groupings, coalitions, and clusters and take up the full charge and role of providing adequate feedback to their states through a process that extends to the larger publics interests with the aim of addressing the issues of interests.
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Examples of Restricted Civil Society Group Cases
It is essential to establish that there are a number of examples that depict the restrictions of the civil society in the process of EITI. In one of the illustrations, the government of Congo can be viewed in the detention and trial of two Publishers Brice Mackosso and Christian Mounzeo who tried to publish the state of the nation as opposed to the governments view.
In other countries such as Equatorial Guinea that believe in the authoritarian style of leadership, the situation is conceived to be worse. In Guinea, the President then-Teodoro Obiang Nguema and his government have overtime been criticised by NGOs and other civil society organizations for placing restrictions on the basic civil and political rights, such as freedom of expression.
This therefore determines the fact that the space civil society involvement through activism on issues corruption and transparency remains non-existent as viewed in this states (PWYP, 2006). However, it is essential to determine that a government only has the capacity and power to restrict supporters who contend for transparency in a more discreet way.
For instance, this can be seen in the case of Nigeria where Nuhu Ribadu, who was considered as the head of t Economic and Financial Crimes Commission (EFCC) then was forced to resign and requested to attend a one year course in policy studies in consideration of the fact that the EFCC had come too close to top policy layers and had arrested several governors for corrupt practices (The Economist, 5 January 2008).
Civil Society is not Strong and Independent enough to take on the Responsibility that EITI Implies
In as much as the formal structure of the EITI process suggestively gives that governments responsibility for the implementation of the EITI process, much responsibility is put on civil society. Civil society in this case is given the power and autonomy to pressure the governments to join their initiatives. Civil society has the power to scrutinise and request for clear information of the figures presented in the EITI reports (in spite of the fact that most reports reveal very limited information), and to determine the manner in which the finances are utilized by the organisations extractive sector works, the payment types utilized, the relevant government receiving the payments and the accountability of these payments.
The list of the expectations from the civil society organizations remain long and for the countries in need of the EITI. In considering that the extractive sectors are, legally, technically and financially complex makes this approach difficult to achieve. In general, the EITI process requires an environment of justice and accountability in order to be implemented.
This therefore requires an environment where the civil society is empowered in knowledge and is considered as independent with the leaders within these organizations elected through a transparent approach that inclusively engages the democratic powers of the system. There is a need of ensuring that there are no conflict of interest that arises between the government, citizens, and the extractive industries.
The voices of the civil society organisations as viewed in this process can be alleged to affirm these organizations limitations within the EITI framework. Aaronson (2008) notes in several countries, the multi-stakeholder approach are an essential element that inhibits these organizations in the departure from the prevailing institutional and political norms. As a result of this, the civil society is incapacitated to effectively participate in the EITI process. In some states, the nongovernmental organisations (NGOs) are considered as autonomous since government officials are given the tasks of appointing the stakeholder groups rather than giving the citizens and NGOs opportunities to choose their representatives.
Discussion of Results
It is arguable that the civil society besides engaging in dialogue within the EITI process is also engaged in several other processes. An instance of this can be viewed in the implementation of EITI that facilitates the public participation in governance and improves the access to information for civil societies (Mouan, 2010). The local community in this case benefits from the increases in collected revenues that are channeled in projects, while of justice, accountability, and good governance on the part of the civil society are promoted and reinforced. The engagement of the civil society occurs in overseeing the implementation of EITI in countries and within the international EITI board (Walden, Jerome, & Miller, 2007).
Recommendation
Beside the aspect of dialogue, the civil society also shares the view that it is their responsibility to identify the key issues that are within the interest of the public and that relate to the mandate of the EITI process that are directed towards extractive revenue transparency, the process of governance and ensure that the identified issues are addressed and brought within the public domain for debate and dialogue (Frynas, 2010).
Within the context of governance and development, the civil society is considered as a third sector that is distinct from the business and government that are functioning as an intermediary institution in ensuring that the issues that deal with the interests of the public within the public domain are coordinated through advocacy.
Conclusion
In this reports, it is established that in 2002, at the World Summit for Sustainable Development, United Kingdom’s Prime Minister Tony Blair launched the EITI process as the future global transparency standard. As a coalition of different stakeholders came together, expectations were heightened towards believing that through governance and accountability, nations, companies and other players in the economy would improve their share of revenues being spent on economic growth and poverty reduction.
As determined in this report, the EITI in this case provides a governance approach that advances revenue transparency within the gas, mining, and oil sector through an approach that stresses the need of multi-stakeholder approach with integrated roles of the civil society, the governments and extractive companies.
The solid involvement and participation of the civil society leads the way in the implementation and a reinforcement of high quality EITI reports. This can be achieved when the civil society in this case has the capacity to discuss the aspects of revenue transparency and increasingly contribute their experiences and expertise in fostering dialogues with different stakeholders.
References
Aaronson, S. A. (2011). Limited partnership: Business, government, civil society, and the public in the Extractive Industries Transparency Initiative (EITI). Public Administration & Development, 31(1), 50-63. doi:10.1002/pad.588
Calland, R., & Bentley, K. (2013). The Impact and Effectiveness of Transparency and Accountability Initiatives: Freedom of Information. Development Policy Review, 31s69-s87. doi:10.1111/dpr.12020
Carbonnier, G., Brugger, F., & Krause, J. (2011). Global and Local Policy Responses to the Resource Trap. Global Governance, 17(2), 247-264.
Caspary, G. (2012). Practical Steps to Help Countries Overcome the Resource Curse: The Extractive Industries Transparency Initiative. Global Governance, 18(2), 171-184.
Disclosure as Governance: The Extractive Industries Transparency Initiative and Resource Management in the Developing World. (2010). Global Environmental Politics, 10(3), 53-73.
Eigen, P. (2013). International Corruption: Organized Civil Society for Better Global Governance. Social Research, 80(4), 1287-1308.
Frynas, J. (2010). Corporate Social Responsibility and Societal Governance: Lessons from Transparency in the Oil and Gas SeWhat is Globalization? Journal of Business Ethics, 93163-179. doi:10.1007/s10551-010-0559-1
Holden, W. N., & Jacobson, R. D. (2007). Mining amid armed conflict: nonferrous metals mining in the Philippines. Canadian Geographer, 51(4), 475-500. doi:10.1111/j.1541-0064.2007.00193.x
Koch, L. C., Niesz, T., & McCarthy, H. (2014). Understanding and Reporting Qualitative Research: An Analytical Review and Recommendations for Submitting Authors. Rehabilitation Counseling Bulletin, 57(3), 131-143.
Lehrer, M., & Delaunay, C. (2009). Multinational Enterprises and the Promotion of Civil Society: The Challenge for 21st Century Capitalism. California Management Review, 51(4), 126-147.
Magner, A. L. (2015). Drilling for Disclosure: Resource Extraction Issuer Disclosure and American Petroleum Institute v. SEC. Journal of Corporation Law, 40(2), 521-537.
Mejía Acosta, A. (2013). The Impact and Effectiveness of Accountability and Transparency Initiatives: The Governance of Natural Resources. Development Policy Review, 31s89-s105. doi:10.1111/dpr.12021
Mouan, L. C. (2010). Exploring the potential benefits of Asian participation in the Extractive Industries Transparency Initiative: The case of China. Business Strategy & the Environment (John Wiley & Sons, Inc), 19(6), 367-376. doi:10.1002/bse.687
Murphy, E. M. (2012). Disclosure of Payments by Resource Extraction Issuers. Federal Register, 77(177), 56365-56419.
Nurse, C. (2007). Transparency in resource extraction. Accountancy, 139(1366), 38-39.
Pal, N., & Pantaleo, D. C. (2008). From Strategy to Execution: Turning Accelerated Global Change into Opportunity. Berlin: Springer.
PR, N. (2013, August 29). Caracal Energy Inc. – Caracal Listed as a Supporting Company of the EITI. PR Newswire UK Disclose.
Salazar, K. (2012). Establishment of the U.S. Extractive Industries Transparency Initiative Advisory Committee and Request for Nominees. Federal Register, 77(145), 44263-44264.
Schuler, D. A. (2012). A club theory approach to voluntary social programs: Multinational companies and the extractive industries transparency initiative. Business & Politics, 14(3), 1-24. doi:10.1515/bap-2012-0024
Shenton, A. K., & Hay-Gibson, N. V. (2009). Dilemmas and further debates in qualitative method. Education for Information, 27(1), 21-37.
Sovacool, B. K., & Andrews, N. (2015). Does transparency matter? Evaluating the governance impacts of the Extractive Industries Transparency Initiative (EITI) in Azerbaijan and Liberia. Resources Policy, 45183-192. doi:10.1016/j.resourpol.2015.04.003
Topal, J., & Toledano, P. (2013). Why the Extractive Industry Should Support Mandatory Transparency: A Shared Value Approach. Business & Society Review (00453609), 118(3), 271-298. doi:10.1111/basr.12011
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Abstract
This report therefore seeks to examine the role of the civil society in ensuring a qualitative EITI report. This can be seen in the manner in which revenues generated from the minerals and oil is in this case utilized in the transformation of different economies with the aim of reducing poverty and raising the standards of living for different population in resource-rich nations.
The Role of Civil Society in Ensuring a Qualitative EITI Report
Introduction
The purpose of this report is to establish the involvement of the civil society in determining an EITI qualitative reporting. The paper will critically establish the functions of the civil society the process of EITI qualitative reporting. It is vital to consider that states that incorporate the element of EITI make a commitment to strengthen the aspect of transparency in the revenues generated from its natural resource revenues. The citizens of these states are also accorded the responsibility of holding the state and the government accountable on how these resources are dispensed (Disclosure as Governance 2010). This aids in the building of prosperous and stable societies that function in an effective manner in the global economy.
On the other hand, much of ETI’s development is owed to the civil society. This clearly depicts the fact that without the existence of the civil society, ETI would not be functional. This is attributed to the fact that the civil society makes concerted advocacy approaches that sees the extractive companies publish their payments to the host governments. Consequently, close to 400 civil society organizations have been committed to the participation of governance through the implementation of ETI in resource rich states around the globe (Sovacool, & Andrews, 2015).
ETI in this case incorporates and approach of governance that advances the element of revenue transparency within the mining, gas, and oil sector through an approach that stresses the need of multi-stakeholder approach with integrated roles of the civil society, the governments and extractive companies (Topal, & Toledano, 2013). Thus the key elements of the success of this approach lies in the ability of developing dialogue that fosters the collaboration between different players in the development, monitoring and evaluation of EITI process. The engagement and functions of the civil society occurs in its approach aimed at overseeing the implementation of EITI in countries and within the international EITI board (Lehrer, & Delaunay, 2009).
EITI Background
In 2002, at the World Summit for Sustainable Development, United Kingdom’s Prime Minister Tony Blair launched the EITI process as the future global transparency standard. As a coalition of different stakeholders came together, expectations were heightened towards believing that through governance and accountability, nations, companies and other players in the economy would improve their share of revenues being spent on economic growth and poverty reduction.
In this case, the process of EITI has been promoted in international development agendas as an instrument that will finitely establish and develop the resource-rich countries to reap the benefits of their resource endowments, a factor that has exhibited excessive expectations about the impact it could have. The G8 has critically emphasised its support for the EITI process, by initiating effective approaches aimed at improving its transparency, accountability, and good governance and thereby leading to sustainable economic growth in the extractive sector.
The EITI Principles
According to Aaronson (2011), the EITI principles were first initiated in conferences that were held in London in 2003. During these conferences, several states, investors and civil society organizations reaches a consensus on the principles that were required in order to establish transparency over the payments of revenues in the extractive sector (Murphy, 2012).
The EITI aspect holds on the belief that prudence should be a key aspect in the use of natural resources for the development of a sustainable economy and development that would in turn impact poverty reduction approaches (Aaronson, 2011). If the proponents of EITI are not fairly management, this would result in a negative economic and social impact.
EITI on the other hand acknowledge the initiatives directed towards managing wealth that is gained from natural resources with the aim of benefiting the citizens of a state within the domains of sovereign governments, a factor that needs to be initiated within the interests of a national state (Sovacool & Andrews, 2015). EITI also takes into consideration the benefit accrued from the extraction of mineral resources, occurring over a revenue stream for a period of time, a factor that depicts the high dependency on the prices (Aaronson, 2011).
Benefits for Local Communities and Civil Society Organisations
The local community is considered to be the single most beneficiary of the benefits that arise from the increases in revenues. This can be viewed in the efforts that have been developed to ensure resource accountability through good governance, and justice, with the aim of mitigating the element of corruption are promoted and reinforced (Aaronson, 2011). The civil society organizations are also considered as part of the beneficiaries of these efforts as seen in the improved relations developed to influence governments and companies in the process. This can be viewed in their efforts directed towards:
Increasing the opportunities aimed at building and strengthening different networks with the international organizations and investors.
Strengthening public institutions.
Enhancing governance and citizens who are aware of the empowerment.
The climate of transparency is one that ensures the civil society groups are empowered. An instance of this can be viewed in the implementation of EITI that facilitates the public participation in governance and improves the access to information for civil societies. The local community is aimed at profiting from the increases in revenues. The element of justice, accountability, good governance are promoted and reinforced with the aim of mitigating corrupt practices during the process (Aaronson, 2011).
The Role of Civil Society in EITI Reporting
As argued, the solid involvement and participation of the civil society is considered as essential since it has the capacity to better implement and a reinforce the initiation of a high quality EITI reporting approach. Participation of the civil society needs to be observed in the delivery of EITI results that go beyond the principles of dialogue and the dissemination of reports (PR, 2013). Engagement of the civil society’s in ensuring a qualitative EITI report occurs at different levels that include: the international EITI Boards and the states that implement the EITI process as part of the multi-stakeholder groups that have the capacity to oversee the EITI (Holden, & Jacobson, 2007).
The civil society as attributed in the process has the powers and initiative to discuss and establish the genuineness of the aspects of revenue transparency and increasingly contribute their experiences and expertise in fostering dialogues with different stakeholders. In some states, the civil society groups are considered to be in the forefront in popularizing EITI. In other regions, the civil society works in supporting legislative processes that are directed towards the strengthening and advancing of the states the agendas on resource and revenue transparency (Holden, & Jacobson, 2007).
This clearly depicts that the role of the civil society has the capacity to monitor and engage in the implementation of national dialogue in addressing some of the issues that are not covered directly by EITI such as the use of revenues that are accrued from the extractive sector.
Experiences that emerge from the implementation of EITI clearly shows that the civil society groups are bound to face several challenges within a state’s level that include the lack of capacity constraints, the lack of resources and other security issues (Pal, & Pantaleo, 2008). EITI Board has a functionally developed range of policy responses that are determined in the strengthening of the EITI requirements aimed at ensuring the civil society groups are fully interdependent and are provided with the opportunity to get engaged within the stages of EITI process.
Within the context of governance and development, the civil society is considered as a third sector that is distinct from the business and government that are functioning as an intermediary institution in ensuring that the issues that deal with the interests of the public within the public domain are coordinated through advocacy (Pal, & Pantaleo, 2008). The goal of this is to ensure these issues are addressed and effectively implemented in order to serve the common interest and good of the society
The non-governmental organizations through their involvement and activities, strong beliefs and principled positions voice out their views and positions to the sectors of the society through an approach that promotes discussions, debates, and constructive engagements. These roles are developed to enrich the public’s participation in the decision-making process thus strengthening good governance, accountability and democratic principles (Frynas, 2010).
These reasons therefore determine the manner in which the concepts of EITI are developed and built through an approach that engages a multi-stakeholder approach. This approach involves several key players such as the government, the civil society and other companies who play different roles in the EITI process. The civil society plays an integral role in reforming the EITI process even in situations where these roles are unclear in several implementing countries. The roles of the civil society would also include:
Identification
The civil society organizations beside the aspect of dialogue also share the view that it is their responsibility to identify the key issues that are within the interest of the public and that relate to the mandate of the EITI process that are directed towards extractive revenue transparency, the process of governance and ensure that the identified issues are addressed and brought within the public domain for debate and dialogue (Calland, & Bentley, 2013). Some of the issues that the civil society organizations clearly focus on include the process of leasing, oil block allocations, bidding rounds, the issuance of mining licenses, physical, financial and process management, the environmental standards and so on.
Agenda Setting
The civil society is different states consider the aspect of agenda setting as their traditional responsibility and a primary tool of their engagement (Calland, & Bentley, 2013). Under these roles, the civil society organizations identify some of the issues that are related to the EITI mandate and use these issues to set national and international agendas for the publics discourse, debate and engagement with the governments and the extractive revenue companies with the aim of improving the aspect of governance through a transparent process and accountability that is done through the use of EITI frameworks.
Public Education and Enlightenment
The element of public education and enlightenment in this case is another role of the civil society even though individuals tend to think these needs to be left for the media alone (Shenton, & Hay-Gibson, 2009).
Agents of Social Mobilization and Change
The civil society organizations also makes use of the fact that for the process of EITI to secure the public’s interests required within the sector, there is a need of providing a supporting role-that of acting as the agents of social mobilization and change (Mejía Acosta, 2013). In this case, it is essential to consider that these roles include the sustained mobilization of the opinions of the public with the aim of advancing the course of the EITI process within the areas of legislative processes and policy formulations. These are known and have been considered to come in the form of peaceful protests, resource mechanization and petitions.
Monitoring and Oversight
It is additionally essential to consider that the civil society organizations are also tasked with the responsibility of monitoring the processes and programs of EITI including the policies and the unfolding events within the extractive sector and ensure that accurate reports and facts are provided with the view of directing the appropriate course of action that can improve the process of governance (Mejía Acosta, 2014). The monitoring and oversight in this case needs to be community based and people driven, In order to carry out these functions in an effective manner (Caspary, 2012).
Advisory
Advisory in this case gives the position of the civil society organizations as some of the professionals within this field that offer fair, profound, qualitative and constructive advice to the EITI processes and in the implementation of an effective EITI process (Mejía Acosta, 2014). The EITI Board in this case needs to be open to advices within the areas of their operations and publicly acknowledge the contribution of the civil society within the EITI process.
Whistle Blowing
The civil society remains in a better position to blow the whistle in the event that extractive revenue transparency functions of the EITI process are not clearly following their mandates. This would therefore see the civil society active is in the exposition of fraudulent practices, process lapses, bribery, corruption, and dishonest dealings with individuals at any stage within the EITI process (Magner, 2015). The functions of whistle blowing as conducted by the civil society may also be used to attract and draw the attention of the areas that have achieved poor performance and that have been neglected and the failures in the rise of statutory responsibilities (Mejía Acosta, 2014).
Observation
The civil society has the mandate of taking up the roles of being the observers within certain activities in the EITI process in consultation with the Board and the secretariat. These roles also include the formulation of procurement processes for some of the projects, budget preparations, the development of annual work-plans, and meetings held with the public in situations that are advisable (Eigen, 2013). In performing these roles, civil society organizations are considered to have the right to engage in independent reporting of these events and give EITI Board the opportunity to make their final comments on these reports before they are disseminated.
Feedback
The role of the civil society in providing feedback in this case is considered as essential and desirable within the processes of EITI (Mouan, 2010). Many of the civil society organizations in this case draw from professional groupings, coalitions, and clusters and take up the full charge and role of providing adequate feedback to their states through a process that extends to the larger publics interests with the aim of addressing the issues of interests.
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Examples of Restricted Civil Society Group Cases
It is essential to establish that there are a number of examples that depict the restrictions of the civil society in the process of EITI. In one of the illustrations, the government of Congo can be viewed in the detention and trial of two Publishers Brice Mackosso and Christian Mounzeo who tried to publish the state of the nation as opposed to the governments view.
In other countries such as Equatorial Guinea that believe in the authoritarian style of leadership, the situation is conceived to be worse. In Guinea, the President then-Teodoro Obiang Nguema and his government have overtime been criticised by NGOs and other civil society organizations for placing restrictions on the basic civil and political rights, such as freedom of expression.
This therefore determines the fact that the space civil society involvement through activism on issues corruption and transparency remains non-existent as viewed in this states (PWYP, 2006). However, it is essential to determine that a government only has the capacity and power to restrict supporters who contend for transparency in a more discreet way.
For instance, this can be seen in the case of Nigeria where Nuhu Ribadu, who was considered as the head of t Economic and Financial Crimes Commission (EFCC) then was forced to resign and requested to attend a one year course in policy studies in consideration of the fact that the EFCC had come too close to top policy layers and had arrested several governors for corrupt practices (The Economist, 5 January 2008).
Civil Society is not Strong and Independent enough to take on the Responsibility that EITI Implies
In as much as the formal structure of the EITI process suggestively gives that governments responsibility for the implementation of the EITI process, much responsibility is put on civil society. Civil society in this case is given the power and autonomy to pressure the governments to join their initiatives. Civil society has the power to scrutinise and request for clear information of the figures presented in the EITI reports (in spite of the fact that most reports reveal very limited information), and to determine the manner in which the finances are utilized by the organisations extractive sector works, the payment types utilized, the relevant government receiving the payments and the accountability of these payments.
The list of the expectations from the civil society organizations remain long and for the countries in need of the EITI. In considering that the extractive sectors are, legally, technically and financially complex makes this approach difficult to achieve. In general, the EITI process requires an environment of justice and accountability in order to be implemented.
This therefore requires an environment where the civil society is empowered in knowledge and is considered as independent with the leaders within these organizations elected through a transparent approach that inclusively engages the democratic powers of the system. There is a need of ensuring that there are no conflict of interest that arises between the government, citizens, and the extractive industries.
The voices of the civil society organisations as viewed in this process can be alleged to affirm these organizations limitations within the EITI framework. Aaronson (2008) notes in several countries, the multi-stakeholder approach are an essential element that inhibits these organizations in the departure from the prevailing institutional and political norms. As a result of this, the civil society is incapacitated to effectively participate in the EITI process. In some states, the nongovernmental organisations (NGOs) are considered as autonomous since government officials are given the tasks of appointing the stakeholder groups rather than giving the citizens and NGOs opportunities to choose their representatives.
Discussion of Results
It is arguable that the civil society besides engaging in dialogue within the EITI process is also engaged in several other processes. An instance of this can be viewed in the implementation of EITI that facilitates the public participation in governance and improves the access to information for civil societies (Mouan, 2010). The local community in this case benefits from the increases in collected revenues that are channeled in projects, while of justice, accountability, and good governance on the part of the civil society are promoted and reinforced. The engagement of the civil society occurs in overseeing the implementation of EITI in countries and within the international EITI board (Walden, Jerome, & Miller, 2007).
Recommendation
Beside the aspect of dialogue, the civil society also shares the view that it is their responsibility to identify the key issues that are within the interest of the public and that relate to the mandate of the EITI process that are directed towards extractive revenue transparency, the process of governance and ensure that the identified issues are addressed and brought within the public domain for debate and dialogue (Frynas, 2010).
Within the context of governance and development, the civil society is considered as a third sector that is distinct from the business and government that are functioning as an intermediary institution in ensuring that the issues that deal with the interests of the public within the public domain are coordinated through advocacy.
Conclusion
In this reports, it is established that in 2002, at the World Summit for Sustainable Development, United Kingdom’s Prime Minister Tony Blair launched the EITI process as the future global transparency standard. As a coalition of different stakeholders came together, expectations were heightened towards believing that through governance and accountability, nations, companies and other players in the economy would improve their share of revenues being spent on economic growth and poverty reduction.
As determined in this report, the EITI in this case provides a governance approach that advances revenue transparency within the gas, mining, and oil sector through an approach that stresses the need of multi-stakeholder approach with integrated roles of the civil society, the governments and extractive companies.
The solid involvement and participation of the civil society leads the way in the implementation and a reinforcement of high quality EITI reports. This can be achieved when the civil society in this case has the capacity to discuss the aspects of revenue transparency and increasingly contribute their experiences and expertise in fostering dialogues with different stakeholders.
References
Aaronson, S. A. (2011). Limited partnership: Business, government, civil society, and the public in the Extractive Industries Transparency Initiative (EITI). Public Administration & Development, 31(1), 50-63. doi:10.1002/pad.588
Calland, R., & Bentley, K. (2013). The Impact and Effectiveness of Transparency and Accountability Initiatives: Freedom of Information. Development Policy Review, 31s69-s87. doi:10.1111/dpr.12020
Carbonnier, G., Brugger, F., & Krause, J. (2011). Global and Local Policy Responses to the Resource Trap. Global Governance, 17(2), 247-264.
Caspary, G. (2012). Practical Steps to Help Countries Overcome the Resource Curse: The Extractive Industries Transparency Initiative. Global Governance, 18(2), 171-184.
Disclosure as Governance: The Extractive Industries Transparency Initiative and Resource Management in the Developing World. (2010). Global Environmental Politics, 10(3), 53-73.
Eigen, P. (2013). International Corruption: Organized Civil Society for Better Global Governance. Social Research, 80(4), 1287-1308.
Frynas, J. (2010). Corporate Social Responsibility and Societal Governance: Lessons from Transparency in the Oil and Gas SeWhat is Globalization? Journal of Business Ethics, 93163-179. doi:10.1007/s10551-010-0559-1
Holden, W. N., & Jacobson, R. D. (2007). Mining amid armed conflict: nonferrous metals mining in the Philippines. Canadian Geographer, 51(4), 475-500. doi:10.1111/j.1541-0064.2007.00193.x
Koch, L. C., Niesz, T., & McCarthy, H. (2014). Understanding and Reporting Qualitative Research: An Analytical Review and Recommendations for Submitting Authors. Rehabilitation Counseling Bulletin, 57(3), 131-143.
Lehrer, M., & Delaunay, C. (2009). Multinational Enterprises and the Promotion of Civil Society: The Challenge for 21st Century Capitalism. California Management Review, 51(4), 126-147.
Magner, A. L. (2015). Drilling for Disclosure: Resource Extraction Issuer Disclosure and American Petroleum Institute v. SEC. Journal of Corporation Law, 40(2), 521-537.
Mejía Acosta, A. (2013). The Impact and Effectiveness of Accountability and Transparency Initiatives: The Governance of Natural Resources. Development Policy Review, 31s89-s105. doi:10.1111/dpr.12021
Mouan, L. C. (2010). Exploring the potential benefits of Asian participation in the Extractive Industries Transparency Initiative: The case of China. Business Strategy & the Environment (John Wiley & Sons, Inc), 19(6), 367-376. doi:10.1002/bse.687
Murphy, E. M. (2012). Disclosure of Payments by Resource Extraction Issuers. Federal Register, 77(177), 56365-56419.
Nurse, C. (2007). Transparency in resource extraction. Accountancy, 139(1366), 38-39.
Pal, N., & Pantaleo, D. C. (2008). From Strategy to Execution: Turning Accelerated Global Change into Opportunity. Berlin: Springer.
PR, N. (2013, August 29). Caracal Energy Inc. – Caracal Listed as a Supporting Company of the EITI. PR Newswire UK Disclose.
Salazar, K. (2012). Establishment of the U.S. Extractive Industries Transparency Initiative Advisory Committee and Request for Nominees. Federal Register, 77(145), 44263-44264.
Schuler, D. A. (2012). A club theory approach to voluntary social programs: Multinational companies and the extractive industries transparency initiative. Business & Politics, 14(3), 1-24. doi:10.1515/bap-2012-0024
Shenton, A. K., & Hay-Gibson, N. V. (2009). Dilemmas and further debates in qualitative method. Education for Information, 27(1), 21-37.
Sovacool, B. K., & Andrews, N. (2015). Does transparency matter? Evaluating the governance impacts of the Extractive Industries Transparency Initiative (EITI) in Azerbaijan and Liberia. Resources Policy, 45183-192. doi:10.1016/j.resourpol.2015.04.003
Topal, J., & Toledano, P. (2013). Why the Extractive Industry Should Support Mandatory Transparency: A Shared Value Approach. Business & Society Review (00453609), 118(3), 271-298. doi:10.1111/basr.12011
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The spiritual assessment tool
Spiritual Needs Assessment
The spiritual assessment tool is part of a holistic approach to addressing the needs of the patients. Ideally, the personal beliefs of a patient can play a vital role in incorporating coping strategies and limiting the negative implications of depression. Currently, healthcare plans implement psychosocial resources in addressing the needs of patients. Mainly, oncology patients tend to spend an extended time with the nurses and doctors; therefore, there is a need to ensure that their accommodation is as comfortable as possible (McSherry & Ross, 2010).
The spiritual assessment tool can be customized depending on attributes such as age, gender, and ethnicity. Analyzing the implications of the instrument will ultimately enable doctors and nurses to improve care management. The following questions were developed and the conversation between the interviewer and the patient documented. Furthermore, the patient was an adult male cancer patient in the late twenties, of African American ethnicity.
Part I: The Interview
Interviewer: Are there any spiritual beliefs that help you to interpret the role and meaning of life?
Patient: Yes there are. I believe that every man has a part to play in balancing earth’s ecosystem. Some people have minor roles, and others have major ones; however, each is equally important. God’s will is that people share the gifts they have with each other and with their environment.
Interviewer: Does your family have a religious background?
Patient: My father is of the Catholic faith. My mother is a Christian, a Protestant. I never really understood what she is protesting about
Interviewer: Do you have any personal religious convictions?
Patient: Yes I do. I believe the blood of Jesus can save lives and souls. Of course, I don’t mean a literal approach, but I am convinced that my life is spent well if I live reflecting on the teaching of the Bible.
Interviewer: Do you believe that aspects of your spiritual life have physical manifestations on your health?
Patient: Yes. The devil came to steal, kill and destroy. Naturally, that implies harm on my physical body. However, I can face adversity because I know I am not alone. Jesus hears my prayers and will deliver me from this affliction one way or another.
Interviewer: Are there any specific attributes about spirituality that provide an anchor in times of distress?
Patient: Christianity is about submitting to a higher purpose. God has good plans for me, therefore, if harm comes my way it is all part of God’s plan. Maybe the Lord wants to display his strength, and I just have to trust him, or my pain is somehow supposed to be a testimony for someone else who is suffering. The Lord works in mysterious ways.
Interviewer: Are there any resources from your spiritual history that you would prefer to be incorporated in your treatment plan?
Patient: Yes. Kindly notify my family to bring my Bible and study book. Also, I would prefer to connect with my local church ministry through social media, television, or radio. There is a prayer and fasting revival that is to begin next week, and I would not want to miss it despite the pain.
Interviewer: Are you concerned about any medical procedures that may assist or interfere with your spiritual convictions regarding your treatment?
Patient: Please do not give me any medicinal marijuana. I am not supposed to consume any hallucinogenic substance. Also, I would have to skip lunch starting from next week since that is when the prayer and fasting revival begins.
Part II: Analysis
The spiritual assessment tool provided crucial insight on the patient’s current mental state. Mainly, the patient’s spirituality seemed to offer effective coping strategies since there were minimal signs of depression. The patient was very cooperative and open about his spiritual preferences and how they manifest in medical perspectives. However, in future, some of the questions will be modified to prevent introducing aspects that interfere with the treatment process.
Especially, the question reflecting on the spiritual resources that can be implemented in the treatment plan tends to invoke a controversial response; therefore, it will be modified as a suggestion as opposed to the indication that the resources can indeed be incorporated despite their negative influence on health dynamics.
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The patient answered all the questions asked. However, he appeared to have a limited attention span which may be affected by pain associated with his condition. As such, his response was very slow. Interactive communication strategies that sustain active engagement can be used in future in anticipation of challenges when the patients are required to respond (Katz, 2015). Additionally, a more open approach should be applied on a general basis since some patients may not have any spiritual affiliations. For instance, the first question can suggest to the patient that he or she has the right to refuse involvement in the conversation by incorporating terms like ‘May I ask about your religious orientation?’
The spiritual exercise facilitated a healthy interaction between the interviewer and the patient, enabling documentation of attitudes towards the current condition. Therefore, physicians and nurses can anticipate certain reactions from the patient during the treatment program. For instance, suggestions of medicinal marijuana to minimize pain and strain due to chemotherapy should not be made to ensure that the patient does not lose confidence in the treatment.
The illness had a consistent implication on the patient’s spiritual needs. The interviewee believed that Jesus would aid him in his times of need; therefore, more pain or distress required additional religious influence as an anchor. The spiritual assessment tool identifies holistic resources that should improve the patient’s experience. In scenarios whereby the interviewee does not have any religious or spiritual convictions, the physician can focus on whether the patient believes he or she has some purpose in life.
In conclusion, the spiritual assessment tool enables patients, nurses, and doctors to develop effective communication strategies. The nurses can monitor changes in behavior and offer timely intervention to prevent cases of depression (Christ, Messner & Behar, 2015). Ultimately, a patient’s psychological and social orientation should provide a support system that should be applied in the treatment strategy. Additionally, since the placebo effect proves the physiological benefits of belief, the benefits of the spiritual assessment tool should be prioritized.
References
Christ, G. H., Messner, C., & Behar, L. C. (2015). Handbook of oncology social work: Psychosocial care for people with cancer.
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Cash Flow Analysis
Business Analysis Report:
Abstract
This report provides an exhaustive comparative appraisal of the fiscal position, cash flow, performance, and evaluation of Bellway PLC and Redrow PLC. These are two companies that both operate in United Kingdom’s real estate industry. The report sought to answer the following questions: Is Bellway in a better financial position than Redrow? Which company is more profitable for investors between Bellway and Redrow? Which of these two companies is better positioned to exploit the opportunities in its environment? The results indicate that Bellway is better positioned fiscally than Redrow in case an emergency situation comes up. All the same, Redrow is better positioned to exploit the opportunities in its environment than Bellway.
Business analysis report
Introduction
This report provides an in-depth comparative appraisal of the fiscal position, cash flows, performance, and evaluation of two companies that operate within the same industry. In analyzing the main financial statement of the two companies, the researcher uses ratio analysis, vertical analysis, and horizontal/trend analysis. The selected firms are Bellway PLC and Redrow PLC. Both of these companies operate in the United Kingdom’s home construction industry. This appraisal comprises SWOT analysis for both Bellway and Redrow.
The two selected companies are described briefly in the introduction section and a fuller description is found at the Study section. Redrow PLC is an organization that is based in Britain and is involved in residential development. Redrow PLC own’s Harrow Estates, which is focused on property and land solutions (Redrow 2016; Cahill 2012). Bellway PLC is a holding company also based in Britain. It owns subsidiary undertakings and it mainly engages in building houses in Britain (Bellway 2016).
Research questions
Is Bellway in a better financial position than Redrow?
Which company is more profitable for investors between Bellway and Redrow?
Which of these two companies is better positioned to exploit the opportunities in its environment?
Literature Review
The selected companies: Redrow PLC and Bellway PLC
Redrow PLC is a firm that is based in the United Kingdom. It is engaged in residential development. Redrow PLC own’s Harrow Estates, which is focused on property and land solutions (Redrow 2016). Redrow PLC is involved primarily in construction and building of residential properties. It provides its services only within the United Kingdom. Redrow PLC has a land bank of over 12,000 development lots giving the firm about 4-year supply of buildable land, which provides a buffer against abrupt increases in land prices (Redrow 2016).
Bellway PLC is a holding company that is based in the United Kingdom. It owns subsidiary undertakings and it largely engages in contructing houses in the United Kingdom (Bellway 2016). Bellway PLC has quite a few subsidiaries the main one being Bellway Properties Limited. Bellway PLC operates in England, Scotland and Wales only. It does not have operations in Northern Ireland. The land bank owned and controlled by Bellway PLC is roughly 34,070 plots (Bellway 2016).
In the 2015 financial year, Bellway sold in excess of 7,760 houses at an average price of roughly £224,000; about eighty percent of which were sold privately and the remainder being sold as social housing. Bellway PLC gives emphasis to sales volume growth and it frequently buys land particularly at low-cost at locations where it can develop (Bloomberg 2016).
Industry: Home Construction / Real Estate
Bellway PLC and Redrow PLC both operate in the United Kingdom’s home construction industry. This is because both companies are engaged in the construction of buildings: that is, they build and develop houses and homes. They construct and develop houses and homes of different types and sizes for diverse markets (Cave 2015; Lai 2013). The housing market in the United Kingdom has been growing steadily (Willer 2016). This steady growth is largely attributed to the aging UK population which increases demand for property overall (Everett & Duval 2010; Stewart 2013).
The long-term trend for house prices in Britain is upwards, although changes in the prices of houses are very cyclical (Cave 2015; Brennan 2013). In the housing market of the United Kingdom, about 250,000 new homes are needed to be built annually in order to stay abreast of the demand (Bourke 2012; Elliot 2013). Even though the construction sector in general in Britain has slowed down, the homebuilding sub-sector has seen a rise in the construction of new homes (Canocchi 2016; Cunningham 2012; Roxburgh 2011).
SWOT analysis
SWOT – strength, weakness, opportunity and threat – analysis is utilized in evaluating a company’s position and guide strategy going forward. Strengths – these are the qualities which determine a company’s success. Strengths allow an organization to attain its mission. Strengths could be intangible or tangible and include qualities and traits that staff members have as well as their flair which offers the company consistency (Everett 2014). Examples of strengths include no debt, workers who are committed, and huge monetary resources.
Weaknesses – these refer to the qualities which impede the productivity of a company preventing the company from attaining its mission and achieving its full potential. Even so, weaknesses can be controlled and the impact and magnitude of the damage could be decreased. SWOT analysis helps not just to identify the weaknesses of a company, but also provides a chance of reversing those weaknesses (Everett 2014).
Opportunities – there are an extensive range of opportunities present in the environment where the company operates. An organization could always benefit from such opportunities, which could arise out of the market, technology or competition. It is notable that existing opportunities could be the utilization of novel technology, exploiting the company’s untapped resources, and failure of a competitor (Fine 2011).
Threats – these are the elements of vulnerability which could jeopardize the organization’s profitability and reliability. They are unavoidable and cannot be controlled. They have to be addressed so as to find a practicable solution (Pickton & Wright 2014).
Fine (2011) noted that a SWOT analysis is a vital part of the strategic planning process of an organization as offers a good all-round perspective of the forward-looking and current situation of the business. The Weaknesses and Strengths sections provide a look at the current position of the company whereas the Threats and Opportunities sections help in projecting challenges as well as possibilities going forward (Bensoussan 2013). SWOT analysis is a suitable tool for strategic planning.
As a result of the analysis, the business owner would be able to set organizational goals and objectives and obtain a clearer picture for basing his decisions on (Lu 2010). In addition, SWOT analysis helps the business owner to utilize a strategy to match the company’s opportunities and threats, and utilize those strategies to convert the threats and weaknesses of the company into its opportunities and threats (Bensoussan 2013). Although a SWOT analysis allows a business owner to identify and understand important issues that affect the company, SWOT analysis does not essentially provide solutions (Fine 2011).
Ratio Analysis Theory
This theory is relevant to the present research paper. Analysis of fiscal reports necessitates skill of statistical tools, accountancy, and mathematics. There are several fundamental ratios that could help anyone in analyzing an organization’s Profit & Loss Account and Balance Sheet for instance current ratio, provisioning coverage ratio, credit deposits ratio, debtors turnover ratio among others. A wide range of fiscal data could be obtained from Annual Reports, Profit and Loss Account, Audit Report, Balance Sheet, Bank Loan Statement, Bank Account Statement, and Income Tax Return.
Financial Statements
Common fiscal statements include cash flow statement, balance sheet, and income statement, and they are all interconnected. The cash flow statement explains cash outflows as well as cash inflows, and it reveals the amount of money which the business has available on hand, which is reported in the balance sheet also. The income statement is used in describing the way liabilities and assets were utilized in the stated accounting period (Routh 2014).
Every financial statement by themselves only offer a portion of the story of the fiscal condition of the business. When taken together however, the fiscal statements offer a more comprehensive picture (Putra 2015). Potential creditors and stockholders usually analyze the fiscal statements of a business organization and compute several fiscal ratios with the data they contain with the aim of identifying the fiscal weaknesses and strengths of the company and establish whether or not the firm is actually a good investment/credit risk (Kumara 2012). In addition, the fiscal statements of a company are usually utilized by the managers as it aids them in making decisions (Routh 2014).
One particular significant way in which the three fiscal statements are utilized together is in calculating free cash flow (FCF). Investors who are smart prefer business organizations which generate lots of FCFs. This is primarily because it signals the ability of the firm to pay off its debt as well as dividends, facilitate the company’s growth, and buy back stock – all vital undertakings from the perspective of an investor (Routh 2014). Even so, whilst free cash flow is an essential gauge of the health of the business, it actually has its limits; as Lan (2014) pointed out, free cash flow is really not immune to accounting trickery.
Financial Statement Analysis
Financial analysis or financial statement analysis is the process in which the fiscal statements of a company are reviewed in order to make better financial decisions. Financial analysis focuses on analyzing a company’s income statement and balance sheet to interpret the business as well as the company’s fiscal ratios for fiscal forecasting, business evaluation, and even fiscal representations (Grimm & Blazovich 2016).
The main fiscal statements include Statement of Cash Flows, Balance Sheet, and Income Statement (Routh 2014). Financial analysis is a process or technique that involves certain methods for assessing fiscal health, performance, risks, as well as the company’s future prospects.
Financial statement analysis is utilized by many stakeholders including equity and credit investors, decision-makers with the company, the public, and even the government. These different stakeholders have various interests and they apply dissimilar techniques in meeting their needs (Lan 2014). Creditors, for example, want to ensure the principal and interest is paid on the debt securities of the organization whenever due.
Equity investors are interested in the organization’s long-term earnings power and the growth and sustainability of dividend payments. Some of the common financial analysis methods include DuPont analysis, fundamental analysis, vertical and horizontal analysis, as well as the use of financial ratios. To project performance of the future, historical information combined with several adjustments and suppositions to the fiscal information might be utilized.
Methods of financial analysis
Ratio analysis
Financial ratios are essential tools for performing analysis of financial statements quickly. There are 4 different classifications of financial ratios: leverage, activity, profitability, and liquidity ratios. These financial ratios are usually analyzed across competitors within the industry and over time (Routh 2014). In analyzing the financial statement of a company using the ratio analysis method, various types of ratios are used.
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Liquidity Ratios: these are utilized in determining how fast an organization is able to turn its assets into cash in the event that the business faces insolvency or fiscal challenges. In essence, liquidity ratios are a measure of the capacity of an organization to remain in business (Routh 2014). Some of the liquidity ratios include the liquidity index and the current ratio.
Current ratio is used to measure the current assets of an organization against the organization’s current liabilities (Altman 2012). The current ratio is used in measuring the amount of liquidity that is available to pay for liabilities (Lan 2014). It is notable that the current ratio indicates whether or not the corporation is capable of paying off its short-term liabilities during a situation of emergency through liquidating its current assets (Lan 2014).
A low current ratio means that the company might find it difficult to pay its current liabilities within the short run hence it should be investigated more. If the current ratio is less than one for example, it indicates that even when the firm liquidates its entire current assets, it will still not be able to pay off its current liabilities (Routh 2014).
Quick ratio helps to compare the accounts receivable, short-term marketable securities, and the cash to the company’s current liabilities. If quick ratio is 0.55 for example, it means that the firm is only able to cover 55 percent of current liabilities by monetizing accounts receivable, liquidating short-term marketable securities, and utilizing all cash-on-hand (Lan 2014).
Cash ratio is computed as cash and short-term marketable securities divided by organization’s current liabilities. It is worth mentioning that a cash ratio of 0.31 will mean that the firm could only pay off 31 percent of its current liabilities with the use of its short-term marketable securities as well as cash.
Liquidity index is also one of the liquidity ratios although is not very popular. It is used to measure the period of time that is needed for converting assets into cash (Batta, Ganguly & Rosett 2014).
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Activity Ratios: these ratios essentially demonstrate how well the company’s top executives are managing the resources of the organization. Accounts receivable turnover and accounts payable turnover are some of the common activity ratios. They show the period it takes for an organization to get payments and how long it takes for an organization to pay off its accounts payable (Routh 2014). Other activity ratios include sales to working capital ratio, fixed asset turnover ratio, working capital turnover ratio, and inventory turnover ratio.
Profitability Ratios: these are ratios which show how profitable an organization is. The gross profit ratio and the breakeven point are some of the common profitability ratios. The breakeven point is used in computing the amount of money which the organization has to generate in order for it to break even with its start up costs (Knežević, Rakočević & Đurić 2011). The gross profit ratio shows a quick snapshot of the anticipated revenues.
Leverage Ratios: these show how much an organization depends on its debt in funding its operations. The debt-to-equity ratio is a popular leverage ratio utilized in analyzing financial statements (Johnson 2013). The debt-to-equity ratio depicts the degree to which the company’s top executives are willing to utilize debt in funding the company’s operations. It is computed as follows: (Leases + Short-term debt + Long-term debt) / Equity (Lan 2014).
Vertical analysis
Besides ratio analysis, the other method that can be used to analyze financial statements is the use of vertical and horizontal analysis. Vertical analysis, as Lan (2014) pointed out, reiterates every figure in the income statement as a percentage of net sales. Vertical analysis is important as it allows the top managers to understand if expenses such as Cost of Goods Sold (COGS) are very high in comparison to sales (Andrijasevic & Pasic 2014).
In essence, vertical analysis is the proportional analysis of a fiscal statement in which every line item on the fiscal statement is listed as a percentage of another item (Routh 2014). This essentially implies that each line item on the balance sheet is stated as a percentage of total assets whilst on the income statement, each line item is stated as a percentage of gross sales (Teodor & Radu 2013). All in all, vertical analysis brings about common-size fiscal statements. Boyd et al. (2014) noted that common-size income statements present each of the amount in the income statement as a proportion of sales.
This is used to compare ratios and account balances over various periods of time. It can be used, for instance, in comparing a company’s sales in 2012 to the company’s 2013 sales (Boyd et al. 2014).The financial analysis for the two companies is illustrated exhaustively in the Study section. The analysis includes the horizontal/trend analysis, vertical analysis, and ratio analysis (Monea 2013). The horizontal analysis entails comparing fiscal information over a number of reporting periods. Horizontal analysis is therefore the review of the results of several periods of time (Luypaert, Van Caneghem & Van Uytbergen 2016).
Financial statement analysis is important due to several advantages it presents to an organization. Firstly, financial analysis offers an idea to investors about deciding on investing their money in a certain business organization (Damjibhai 2016). Secondly, various regulatory authorities such as IASB could ensure that the business organization is in fact following the necessary accounting standards (Routh 2014).
Therefore, the analysis enables the company to remain compliant (Ednlister 2012). Thirdly, the analysis of financial statements helps government agencies to analyze the taxation that is owed to the company (Beutler 2014). Fourthly, financial statement analysis enables the company to analyze its own performance over a certain period of time (Routh 2014).
References
Altman, EI 2012, ‘Financial ratios, discriminant analysis and the prediction of corporate bankruptcy’, Journal Of Finance, 23, 4, pp. 589-609, Business Source Complete, EBSCOhost, viewed 30 June 2016.
Andrijasevic, M, & Pasic, V 2014, ‘A blueprint of ratio analysis as information basis of corporation financial management’, Problems Of Management In The 21St Century, 9, 2, pp. 117-123, Business Source Complete, EBSCOhost, viewed 30 June 2016.
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Bensoussan, BE 2013, Analysis without paralysis: 12 tools to make better strategic decisions. Oxford, England: Oxford University Press.
Beutler, IF 2014, ‘What Makes Wealth Grow? A Wealth Sensitive Financial Statement Analysis’, Journal Of Financial Counseling & Planning, 25, 1, pp. 90-104, Business Source Complete, EBSCOhost, viewed 30 June 2016.
Bourke, C 2012, ‘Further losses for major housebuilders’, Estates Gazette, 836, p. 54, Business Source Complete, EBSCOhost, viewed 30 June 2016.
Boyd, K., Epstein, L., Holtzman, M., & Loughran, M 2014, Horizontal and vertical analysis. Coventry, England: John Wiley & Sons.
Brennan, H 2012, ‘NewBuy rates do not reflect scheme’s risk profile, says Redrow’, Money Marketing (Online Edition), p. 5, Business Source Complete, EBSCOhost, viewed 30 June 2016.
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Cave, A 2015, Redrow Cuts Exposure to London Values, Daily Telegraph.
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Damjibhai, SD 2016, ‘Performance Measurement Through Ratio Analysis: The Case of Indian Hotel Company Ltd’, IUP Journal Of Management Research, 15, 1, pp. 30-36, Business Source Complete, EBSCOhost, viewed 30 June 2016.
Ednlister, RO 2012, ‘An empirical test of financial ratio analysis for small business failure prediction’, Journal Of Financial & Quantitative Analysis, 7, 2, pp. 1477-1493, Business Source Complete, EBSCOhost, viewed 30 June 2016.
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Pain after surgery is distressing to patients and it is an issue of concern for nurses working in PACU. Ineffective pain management during the immediate postoperative period can prolong patients stay in the PACU especially if the necessary measures are not implemented.. Nurses in PACU have a responsibility to continuously assess and give proper pain treatment to the patient (Tedore, 2015).
During my placement, I noted that nurses play an important role in management of pain during the postoperative period. Therefore they should be equipped with the proper skills and knowledge to be able to provide the best pain management. Furthermore, I realized that, despite the availability of guidelines and variety of tools for pain management, post-operative management of pain is still a challenge (Abrahamson, Fox & Doebbeling, 2012).
Moreover, increased knowledge on pharmacological and non-pharmacological pain management results in better patient outcomes. Also, these nurses should be given ample time to be able to follow the pain management guidelines to ensure proper pain management. My report aims at analyzing from the relevant peer reviewed articles on nurses’ role in management of post-operative pain and nursing issues relating to management of pain during postoperative period putting my experience in the unit into consideration.
Literature Review
Tedore, 2015 conducted a research and found out that proper management of post-operative pain benefits patients in a number of ways. Mostly it contributes to better patient comfort which is key, less cardiac complications and reduced risk of development of deep vein thrombosis and finally the patient recovers within a short period of time.
According to Wilding, Manias & McCoy, 2012 research article, it explained that that improper management of pain is majorly contributed by nurses. The factors that contribute to this include poor assessment of pain, reduced knowledge and skills on pain management, fear of side effects associated with pain management, (Wilding et al. 2012).The research conducted by (Wilding et al., 2002) explored the contributing factors to increased pain during discharge of patients from PACU.
Use of pharmacological and non-pharmacologic therapies in pain management is highlighted in an article by Joshi, Schug & Kehlet , 2014.The article outlined that morphine was mainstay for pain management in PACU. It further suggests the use of the WHO recommended ladder, starting from mild non opioids including acetaminophen and NSAIDs to strong opioids such as morphine which can be used according to severity of the pain score.
None the less, use of ice packs, distraction by use of music and positioning are some of the non-pharmacological therapies. A study was done in PACU and the findings were that use of non- pharmacological therapies together with analgesics yielded better outcomes in pain management(Joshi, Schug & Kehlet, 2014). However, the outcomes varied depending on the type of surgery performed .
According to Ramnytz, Wells & Fleming 2015, the PACU nurse has a role in assessing the associated side effects of the pharmacological agent administered. Relieving pain is the major goal of postoperative pain management and ensuring that minimal side effects results. Opioids are the mainstay of pain therapy.
However they are associated with unwanted effects such as respiratory depression, hypotension and reduced bowel movement (Ramnytz et al., 2015). In PACU, a pulse oximetry is the best tool that can be used to monitor respiratory depression during administration of opioids. However, the best method of monitoring respiratory depression is through observation of the respiratory pattern and the patient’s level of consciousness.
Methodology
During my placement in the Post Anesthetic Care Unit, I interacted and engaged the nurses in discussions pertaining their role in pain management with observations being the key technique.
Discussions
Postoperative nurses have a responsibility in assessment of pain. They should assess paints level of pain using the most effective tool to have the best outcomes. The 10 pain assessment scale is most preferred tool. However, it is important to incorporate both the subjective and objective information to be in a position to determine the most appropriate therapy for pain.
There should be continued documentation of the progress of the patient so as to determine the effectiveness of the therapy and there will be any alteration. The nurse should as well note the source and severity. In the event there is no relationship between the site and severity of pain, it will warrant investigations to determine if there is any related pathology.
Cultural background as well as anxiety is some of the patient factors determine the management of pain therefore the nurse has a responsibility of assessing them and determine if they have an effect on the patient perception. Therefore, these nurses have a role in establishing these factors.
Reflecting my placement in PACU, I appreciated that the hospital has a protocol for management of pain after surgery. For moderate pain, no opioids drugs were used while for severe pain, strong opioids were utilized. I also appreciated use of non-pharmacological therapies in pain management. Use of both pharmacological and non-pharmacological therapies increases efficiency (Ramnytz, Wells & Fleming ,2015). Non pharmacological therapies that were utilized included ice packs, music therapy and in deed they were found to be effective.
Literature suggests use of different pharmacological agent in management of pain. Similarly, during my placement, I identified those agents being utilized. For severe pain , opioids were being used while for moderate and mild pain, agents such as tramadol, diclofenac as well as acetaminophen were used.
Nurses were very vigilant and it encouraged me when they assessed the patients often after administration of these agents as the doses were given continuously until the level of pain subsided. According to WHO, recommends the use of a ladder for drug management, during my clinical placement, it was however not applied.Mariano, Miller & Salinas (2013), advocated for use of weak opioids, and NSAIDs in management of moderate pain. However, this was not practiced during my placement.
It is the nurse’s integral duty to assess the side effects of the analgesic agents. Knowledge on mode of action ,drug interaction as well as unwanted side effects so that they can be in a position to observe any side effect of the agent s and act accordingly. Likewise, I noticed that the nurses were aware of the associated side effects of the analgesic agent and they acted appropriately whenever they noticed any deviation from normal. After administration of morphine, the PACU nurses were keen to observe the respiratory pattern of patients to identify if there was any respiratory depression associated with the use of morphine.
Conclusion
My experience in management of postoperative patients in PACU enlightened me on the role of nurses in management of postoperative pain. I realized that continued provision of PACU nurses with the relevant skills and knowledge will go a long way in better management of pain after. The information I found was relevant for them included variety of pain management tools, factors influencing pain management, different therapies of pain management as well as the side effects associated with pharmacological managements. Finally I would recommend the utilization of the WHO ladder for pain management.
References
Joshi, G., Schug, S., & Kehlet, H. (2014). Procedure-specific pain management and outcome strategies. Best practice & research. Clinical Anaesthesiology, 28(2), 191-201.
Mariano, E., Miller, B., & Salinas, F. (2013). The expanding role of multimodal analgesia in acute perioperative pain management. Advances in Anesthesia, 31(1), 119-136.
Marshak, C., Bertignoli, T., Mulackal, E., Reyes, E., Duran, M., & Rojo, L. et al. (2014). Excellence in PACU pain management: How is our PACU team terforming? Journal of Perianesthesia Nursing, 29(5), e17.
McLean, G., Martin, D., Cousley, A., & Hoy, L. (2013). Advocacy in pain management: The role of the anaesthetic nurse specialist. British Journal of Anaesthetic and Recovery Nursing, 14(3-4), 43-48.
Ramnytz, L., Wells, V., & Fleming, E. (2015). An Exploration of the post-anesthesia care unit (PACU) nurses’ knowledge level of sedation scoring and pain management options. Journal of Perianesthesia Nursing, 30(4), e44.
Tedore, T., Weinberg, R., Witkin, L., Giambrone, G. P., Faggiani, S. L., & Fleischut, P. M. (2015). Acute Pain Management/Regional Anesthesia. Anesthesiology clinics, 33(4), 739-751.
Wilding, J., Manias, E., & McCoy, D. (2012). Pain assessment and management in patients after abdominal surgery from PACU to the postoperative unit. Journal of Perianesthesia Nursing, 24(4), 233-240.
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This report will analyse the Adidas Company. This report provides an analysis and evaluation of effective marketing planning process, techniques for controlling marketing activities, contemporary marketing techniques, and their use in global and international markets. Furthermore, the report examines the skills of marketing managers and their role in the effective management of the marketing team, value of a brand from a number of different stakeholder perspectives, and the organisation’s marketing campaigns in different international markets.
Methods of analysis will include SWOT analysis, marketing controls, and international marketing trends. Results of analysis depict that Adidas has abundant opportunities and strengths, but suffers from a number of weaknesses and threats. The report finds that Adidas has taken advantage of its strengths and opportunities to develop effective marketing plans that have assisted them to achieve their marketing objectives.
The Adidas Company has adopted marketing controls, such as annual control, profitability control, and strategic control that have helped in spotting deviations in its marketing activities and provided timely remedies to the variations. Adidas has implemented contemporary marketing techniques, such as email marketing, PR marketing, mobile marketing and the use of social media that have assisted in growing awareness of its new products in different international markets.
Marketing manager skills, such as excellent communication skills, problem solving skills, and project management skills are noted to be vital in offering effective management to marketing teams. Stakeholders, such as employees, suppliers, and customers play a significant role in influencing the value of the Adidas brand. The various stakeholders participate in building the brand equity.
The Adidas has tailored its marketing campaigns to suit the different international markets. The company uses local athletes from various countries and influencers of markets to promote its new products, X 15 and ace 15 in different international markets. The report recommends that Adidas should design products that are affordable to several customers and implement marketing techniques that promote and differentiate its products from its competitors.
Introduction
The purpose of this report is to analyse the effective marketing planning processes and evaluate techniques for controlling marketing activities of the Adidas Company. This report also studies the contemporary marketing techniques and their use in global markets, examines skills of a marketing managers, and evaluates their role in providing management to the marketing team. Furthermore, this report assesses the impact and value of the Adidas Company brands from diverse stakeholders perspectives. In addition, this report looks into the marketing campaigns the Adidas Company has employed in different international markets.
The competitive global market calls for companies to plan their marketing activities, establish their strategies and accomplish their objectives more effectively. The contemporary marketing techniques aim to create a link between the customer and the organisation. Companies attract customers through social media content significant to their needs or writing newsletters that have valuable information.
Businesses that employ contemporary marketing techniques are seen to be successful in achieving their objectives than those companies that rely on conventional marketing techniques. The report will utilise references from the company website and other research articles. Besides examining the Adidas Company marketing strategy, this report will look at modern strategies that the company can utilise to expand its international markets.
Effective marketing planning process
Companies in all industries require marketing plans to succeed. Effective marketing planning process offers companies guidelines on how to market and trade their new products in the market within a specific period. The marketing plans guides the company in choosing an appropriate target market and then fulfill the customer needs in that segment. Moreover, the marketing planning process establishes the promotional strategies that can boost the sales volume of the company products.
The Adidas Company is an international corporation that designs and fabricates sports shoes, outfits, and accessories. The company is a leading sportswear in Europe and the global market. The Adidas Company has adopted a three divisional structure for its Adidas brand. The divisions include sport performance, sport heritage, and sport style. The adidas sport performance division centers on novelty, functionality, and design.
Furthermore, the division designs products for sports performance market, but have design appeal that pushes the consumers to wear the products off the playing field. The adidas sport heritage division includes adidas original products that aim to expand the exclusive and valid heritage of adidas to the lifestyle market. The sport style division is a fashionable assortment that consists of men’s and women’s shoes, clothing, and accessories.
The division targets young consumers who are looking for fashion-oriented sportswear products. The three divisional structures assist the Adidas Company to design and market innovative products, which satisfies the needs of varied customers. The Adidas has introduced new products like X 15 and Ace 15. X 15 is designed for players who control and bringing order to a chaotic game, while Ace 15 is designed for players who cannot be controlled.
Therefore, the Adidas Company requires an effective marketing planning process that would establish a target market for its new products and formulate plans of marketing its products and fulfilling the needs of that market. The marketing planning process is achieved through five fundamental steps. The five steps include objective and goal setting, assessing organisational resources, evaluating risks and opportunities, developing marketing strategy, and implementing and monitoring marketing plans (Adidas 2016).
Objective and goal setting
This initial stage of marketing planning process includes setting of goals and objectives the company wants to achieve. The company should link the marketing plan with its mission statement and determine the primary target audience. Moreover, the company should establish the profit margin it wants to achieve after implementation of the marketing plans (Social care institutes for excellence 2013).
The Adidas Company has developed a global brand in sporting products industry by designing quality new products that seeks to fulfill the expectations of customers. The Adidas Company has developed objectives that will assist the company to expand the global market of its new products. The company objectives include market penetration, which would aid in attaining market share in the global markets that the company competes.
The market development objective will enable the company to capture new business markets and respond to the needs of customer segments. In addition, the product awareness objective would offer visibility and realization of the company new products. The company objectives conform to its mission statement that states that the Adidas Company endeavor to be the global leader in sporting products industry with brands built on passion for sports and a sporting lifestyle (Chartered Management Institute 2015).
Assessing organisational resources
Marketing plans are influenced by internal factors, such as organisational resources. The organisational resources include capacity in manufacturing, advertising, finance, and technology. Assessment of these resources will enable organisations to locate their strengths and limitations. Strengths aid organisations to develop objectives, establish plans for accomplishing objectives, and gain from marketing opportunities. On the other hand, resource limitation might hold back an organization from benefitting on marketing opportunities (MLF4 2012).
The Adidas Company has several strengths that assist it to achieve its objectives. The company has strong financial position that is attributed to its several stores around the globe that make the company to achieve a profit of billions of dollars annually. The company trades its products from company owned stores, online stores, and supermarket stores. The effective distribution system enables the company new products to be available through diverse channels. The Adidas Company has increased consciousness of its new products through supporting major sports organisations, such as UEFA, NBA, world cup, and Olympics. The Adidas Company has uitilised YouTube to create videos that promote consciousness of its new products. Moreover, Adidas created videos that used David Beckham to promote its new products X 15 and Ace 15 (Nadeau et al. 2015).
However, the company has some limitations that prevent it from taking advantage of marketing opportunities. The company faces a risk of over dependency on outsourcing. The Adidas Company has subcontracted a bigger percentage of its production to third party manufacturers, such as Asia to benefit from easy accessibility of raw materials and fair labour cost. The premium prices of X 15 and Ace 15 sporting shoes due to inventive technology and manufacturing techniques have made the products exorbitant to deprived customers, particularly in developing countries (Adidas 2015).
Evaluating risks and opportunities
Nevertheless, the company has myriad of opportunities that will aid in fulfilling its marketing plans. The shifting lifestyle, taste, and preferences of rising economies have increased demand of premium brands. Furthermore, the company can extend its product line that will unlock new opportunities and attain an edge over its rivals through differentiation. In addition, the Adidas Company can integrate backwards that will aid in protecting their patent rights and combine their research and development division with the operational division in order to enhance brands innovation and development (Teach a man to fish 2014).
Nonetheless, the Adidas Company faces threats that might influence its marketing plans. Despite Adidas being a global brand, it still faces strong competition from other premium brands, such as Nike. Moreover, local companies and substitutes provide standard competition to Adidas brands. The over dependency on outsourcing its production has made supplier to have more bargaining power than the company (Institute of Risk management 2013).
Developing marketing strategy
Marketing strategy assist organisations to win market shares and converse to target market the advantages and aspects of a new product. Furthermore, the marketing strategy communicate the general value to their customers (Planning effective marketing strategies 2013).
The Adidas Company utilizes online marketing and other promotion campaigns to communicate their legacy of innovation and technology to customers. The company uses celebrities in its online marketing. Adidas use players like Mesut Ozil to promote its Ace 15 sporting shoes. Adidas argues that Ace 15 is built to control and suited to players like Mesut who bring order to a chaotic game. On the other hand, Adidas use players like Gareth Bale to promote its X 15 sporting shoes. The X 15 is built to give thorough traction to energetic and agile players in the world. The Adidas has adopted sports marketing through sponsoring sporting events that offer many opportunities to the company, such as new products promotion and brand consciousness. In addition, the Adidas utilises search engine optimization (SEO) tools to optimize its website by considering the key words used by people in search engines. The strategy has generated high consumer traffic for Adidas. Furthermore, Adidas place banner advertisements on other webpage that has promoted awareness of its new products (Khankaew et al. 2015).
Implementing and monitoring marketing plans
After developing the marketing plans, organisation follow the steps outlined in the plan towards achieving the stated objectives. The organisation provides continuous assessment to evaluate whether adopted strategies are achieving the objectives and goals. The Adidas Company stresses flexibility when implementing their marketing plans. The environmental opportunities and threats might not match with the company expectations. Shift in consumer demand, extension of distribution channels, and changes of supply costs might influence the outcomes, thus should be included into the monitoring of the plan (MLF4 2012).
Needs and techniques for controlling marketing activities
For Adidas Company to effectively control its marketing activities should adopt control systems that provide standards for assessing performance in each division of marketing. The outcomes of marketing departments, such as interactive advertising and marketing research department cannot be evaluated by similar standard because they are not similar. Hence, Adidas should implement control system that has matching standard for each department.
Furthermore, effective control system should be able to discover variation and report them to the management. The control system should also recommend possible remedies that can correct the deviations. In addition, the control system should be easily understandable by employees and cost-effective to the organisation. A control system that is customized to Adidas specifications provides comprehensive information that is significant to the company line of business (Adidas 2015).
Annual plan control
Annual plan control assists Adidas to evaluate its current marketing activities and outcomes to ensure that the yearly sales and profit objectives are attained. The annual plan control detects any variations on the performance of its X 15 and Ace 15 products and suggests possible corrective actions. The annual plan control utilizes tools, such as sales analysis, market share analysis, market expense analysis, and financial analysis to evaluate marketing activities and detect any deviations (Adidas 2015).
Profitability control
Profitability control helps Adidas Company to establish the definite profitability of its X 15 and Ace 15 products, market segments, and distribution channels. The information generated from profitability control will influence the company decision on extension, reduction, or deferment of its marketing activities.
The profitability control will identify the functional expenditure, allocate the functional expenditure to the marketing entities, and prepare income statement for every marketing entity. Therefore, the profitability rely on the of sales and marketing cost analysis in determining the profitability and expenditure of the marketing entities (Adidas 2015).
Efficiency control
The efficiency control aids the Adidas Company to enhance the effectiveness of its marketing activities, such as video marketing, network marketing, and blogging. The efficiency control assesses and reduces the marketing expenses of the marketing activities. Efficiency and profitability control are closely connected. Higher profits signify efficient management of the marketing activities (Adidas 2015).
Strategic control
The strategic control ensures that Adidas marketing objectives and strategies are suited to the present and predicted marketing environment. Furthermore, the strategic control will evaluate if the company is pursuing the opportunities presented by the distribution channels, products, and markets. T
he company management should continuously utilize the strategic control because the continuously shift in marketing environment might render the company objectives, strategies, and policies obsolete. Moreover, the strategic control examine the company marketing efficiency by employing tools, such as marketing audit and marketing effectiveness ranking appraisal (Adidas 2015).
Contemporary marketing techniques and their use in Global and International markets
Companies seek to expand their market share by venturing into global markets that are unsaturated and that offer the companies with several growth opportunities. Companies use contemporary marketing techniques to promote their new products in international markets. Most companies recognize they have limited markets when they concentrate in their local markets.
Hence, companies respond by looking international opportunities to raise their market share and customer base. The emergence of technology that crosses both cultural and national boarders presents the companies with the opportunity of utilizing technology to promote their products in global markets.
Moreover, the technology has resulted to development of contemporary marketing techniques, such as email marketing, social media, blogs, and public relation marketing that aid companies to market in global and international markets. Adidas Company has responded to customer migration to online world by embracing email marketing to promote its new products. Adidas utilizes email marketing to connect with current and prospective customers (Direct Marketing Association 2014).
Public relation marketing increases the awareness of the new products offered by Adidas and advances the company reputation in the media. The public relation marketing also publicizes new products introduced to the market by the company. The PR is responsible of writing press releases, newsletters, and speaking about the organisation in public meetings, which help in promoting the image of the company (Introduction to Public Relation 2012).
Social media sites, such as face book, and twitter offer Adidas exclusive opportunity to interact with customers and promote its new products. Adidas has utilized social media networks to increase consciousness of its new products, X 15 and Ace 15.In addition, studies suggest that companies who participate in social media platforms and mobile marketing enjoy higher loyalty from their customers.
Moreover, Adidas has embraced mobile marketing by acquiring an Australian fitness app maker, Runtastic. The app maker have over 130 million downloads and 75 million registered members globally, and is offered in 17 languages, thus giving Adidas a platform to market and promote its new products (Mobile Marketing Association 2014).
Adidas has shifted its bulk of its marketing budget into online marketing through focusing on instantaneous content and online video. The company has developed Adidas’ digital newsroom that aid in promotion of its new products. The brand newsroom aid the company to create quality contents that is unique and form emotions. Furthermore, the digital newsrooms create content that is tailored to its audience and it is delivered promptly and to the accurate standards (Adidas 2015).
Marketing manager skills and their role in the effective management of the marketing team
Technology advancement has altered the role of marketing to a point that the duties of present marketing managers vary significantly from those of some years ago. Nowadays marketing managers should understand how trends, technology, and social media work in the marketing mix. However, there are essential skills that marketing manager must possess to enhance their management and performance of marketing roles.
The Adidas Company success greatly depends on the effective management of its marketing managers to devise strategies that enhance new products promotion and increase sales. The marketing manager should possess excellent communication skills and create open and operating channels of communication. Strategic thinking is a vital skill that assists marketing managers to reflect and solve challenges with exceptional perspectives.
Furthermore, the marketing manager is able to make decisions based on long-term viewpoint and recognize how to handle the exclusive needs of each member participating in the project. The marketing managers are faced with the need to handle challenges from clients, team members, and the management. Excellent problem solving skills enable the marketing manager to handle swiftly the challenges from the three stakeholders.
In addition, the marketing managers are required to hone their project management skills to guide their teams in realizing their objectives and taking advantage of social media opportunities (National careers Service 2012).
Marketing managers play a vital role in providing effective management to their marketing teams. The marketing managers develop departmental targets and individualize them for each departmental staff. Moreover, they demonstrate how the individual targets would assist the department and the organisation as whole.
The marketing managers also identify the distinctive behavior of the team members and encourage them to achieve their targets by utilizing their unique traits. In addition, the marketing managers conduct performance appraisal of their marketing teams and congratulate them in departmental meetings when their transitional targets are achieved. This strengthens the significance on their individual capacities (National careers Service 2012).
Impact and value of a brand from a number of different stakeholder perspectives
Brand equity can enable companies to set premium prices to their products because customers believe that products with famous names are better than products with unrenowned names. Customer-based brand equity results when customers recognize the brand and hold exceptional brand association in their mind. Adidas has positioned itself as a premium brand and customers are willing to pay more for its products. The positive customer-based brand equity has offered Adidas long-term revenues and capability of charging premium prices for its new products (Angulo-ruiz 2014).
Employees play vital role in developing brand equity. Adidas recognizes its employees as major stakeholders in building the value of its brand. Adidas involves their employees in decision-making process and boost their satisfaction in order to attract the best talent that would help in designing new products. In addition, suppliers aid companies to have excellent reputation in the market. The brand equity of the Adidas Company assists in attracting reliable suppliers who might not be willing to render their services to unbranded firms (Cornell University ILR School 2013).
Organisations marketing campaigns in different international markets
The competitive environment prompts companies to develop marketing campaigns that will increase the brand consciousness and sales. However, due to diversity organisations should tailor their marketing campaigns to suit the international audience when expanding to international markets. The Adidas Company has used different marketing campaigns to promote its X 15 and Ace 15 products in different international markets.
The Adidas has promoted its new products in the US market by utilising online marketing that feature top players of National Hockey League (NHL) and National Football League (NFL). Moreover, the company has initiated major basketball marketing campaigns that resulted to a significant increase in its sales. The online purchasing has made it easy for consumers to purchase products directly from manufactures.
Adidas has adopted online purchasing by placing links on other websites like Google homepage that create high consumer traffic to the company website. The links help to promote product awareness to potential consumers. Furthermore, use of SEO tools to optimize the company website has made it visible to new consumers (Tesseras 2014).
The Adidas has used the Chelsea FC’s players and collaborated with the British Paralympics Association to promote its new products in the UK market. This year Adidas launched a marketing campaign dubbed I am here to create that comprised a sequence of films that featured several sporting celebrities. The marketing campaign aired in fifty countries during broadcast of UEFA champion league and the Grammys awards.
In China market, the campaign featured the local players that have the power of influencing the market. The marketing campaign helped to promote the X 15 and Ace 15 sporting shoes that Adidas launched to the market. Adidas has embraced Web public relations (WPR) by placing news of product or service launches on company’s website and review sites for consumers to read. Furthermore, Adidas uses direct e-mail for its online promotion. Both WPR and direct e-mail have helped adidas in promoting its new products to consumers (Department for culture, media, and sport 2012).
Conclusion
A company success is greatly attributed to the effective role played by is marketing function. Adidas effective marketing planning has guided the company to develop business activities that helps in achieving its organisation objectives. Marketing control systems have aided Adidas to assess its marketing activities and offer swift remedies to detected deviations. The Adidas Company has embraced contemporary marketing techniques, such as social media that have significantly enhanced its new products awareness. Furthermore, the Adidas marketing techniques that are tailored to different international markets have been successful in promoting its new products.
Recommendation
Customers are noted to be satisfied with the design and durability of the Adidas products, however in aspects of price; Adidas should design products that are affordable to deprived customers, especially in developing countries. Moreover, the company can provide special offer of price in a certain period to boost its sales and attract more customers. In addition, Adidas should develop more marketing campaigns and techniques that promote and differentiate its brands from competitors.
Online marketing,Top player brand ambassadors,Sponsoring teams
References
Angulo-ruiz, F., Donthu, N., Prior, D. & Rialp, J. (2014) ‘The financial contribution of customer- oriented marketing capability’, Academy of Marketing Science [online] 42 (4), 380-399. Available from [17 October 2016]
Institute of Risk management (2013)A risk management standard [online] available from <https://www.theirm.org/media/886059/ARMS_2002_IRM.pdf> [17 October 2016]Khankaew, C., Ussahawanitichakit, P. & Raksong, S. (2015)A CONCEPTUAL FRAMEWORK OF ALTERNATIVE MARKETING STRATEGY AND MARKETING OUTCOMES‘Allied Academies International Conference’ Academy of Marketing Studies [online] 20(2), pp. 1-16
Mobile Marketing Association (2014) ‘MMA and adidas publish The Mobile Marketing Playbook to Drive Global Marketing Efforts’Marketing WeeklyNews [online], pp. 179
Nadeau, J., O’Reilly, N. & Heslop, L.A. (2015) ‘Cityscape promotions and the use of place images at the Olympic Games’Marketing Intelligence & Planning[online] 33(2), pp.147
Planning effective marketing strategies for a target audience– Adidas (2013) Business Case Studies LLP, London [online] available [17 October 2016]
The person I chose to share the gospel with is my friend Allyson Sy and we met at Starbucks Coffee on Feb. 7, 2017 at 4:00 pm because she was feeling down. This is why I shared the gospel to her that has a message about miracles. When I read the gospel to her which is John 2:1-11, she was skeptical of the part when Jesus turned water into wine because, according to her, there is no such thing as a miracle. Hence, she said that it never happened, but after some time, she began to open her mind to the possibility.
I did not allow her doubt to discourage me because I gave examples of little miracles that happen in daily life. For instance, how a person feels relieved after praying if she has been feeling unloved and lost. That miracles do not always happen in big crowds like the wedding in Cana at Galilee. That event had to happen because there were a lot of people and it was a banquet that symbolized the messianic era. There was also the faith of a mother in her son because all she had to do was tell Jesus there is not enough wine and he did the miracle.
If someone who does not self-identify as a Christian hears about this story, he or she might even laugh at me. Since Allyson is my friend, despite her skepticism, she continued to listen to my explanation. Meanwhile, I was also very careful not to make her feel that I am imposing anything to her. I have had experiences where people have become defensive of their beliefs because someone provoked them to. By making Allyson feel that I do not condemn her for not being a self-identified Christian, her reaction was lighter. And out of curiosity, she started to ask questions.
She wanted to know why his disciples did not believe Jesus’ ability to perform miracles. What happened at the wedding proved them wrong and they started to believe in him because that was clearly not a coincidence. They had no wine at first and Jesus filled 6 jars that held 30 gallons each. The disciples did not believe Jesus at first because they have never met anyone like that before and blasphemy was very common during that time. In the same way, Allyson thought I was being foolish, but she eventually opened her heart.
This is an encounter that I will not forget because it gave me a chance to open someone’s doors to the reality of miracles. Especially because that person is one of my good friends. I also related Jesus’ experience to how people doubt a leader at first until he or she proves them wrong. Jesus and his disciples can be compared to a group of friends who have been through a lot, got lost, and needed a credible leader to clear their path. This is something that can happen to a person, a company, or a peer group. There is always someone who has to take the lead so that everyone is safe.
After I talked to her about it, she gained more insights about life and why people tend to admire someone they can look up to. Since we still had time, I invited her to pray with me and told her that I will lead the prayer. She agreed because, since the does not self-identify as a Christian, she is not good with spontaneous prayers. I recited a prayer of thanksgiving and related it to the experiences we had. It was a 3-minute prayer that was enough to let her feel the power of prayer. She thanked me for the experience because it is not every day that she will encounter someone like me, and we happily ended our meeting.
The consumer insight research conducted focused on exploring more on the impact of the social media posts about lifestyle and dining on the outcomes of marketing communications and the responses given by the clients. The study focused on identifying the effects of the creative marketing communication strategies for the lifestyle or restaurant services.
The male vs. female Instagrammer and the male vs. female consumer were used in the collection of the essential information. The visual stimuli experiment method was used following a randomized fashion.200 participants aged between 18-59 years were used in the study (Pitt et al, 2017).
A summary on the participant’s passion about foods, brand attitude, and foodie consumer was conducted on part one followed by an experimental study. The major finding is that envy influences the brand attitude of the Instagrammers. In this case, it should be considered as an essential marketing aspect of various products and services.
EVALUATION OF FINDINGS
Based on the results acquired it was found that the Instagram post factors do not impact the response of the consumers. Envy was also not influenced by the consumer segment or the sex of the Instagrammer. Envy is not seen to be influenced by most of the factors of interest. The brand attitude is influenced by various factors of interest that were used to test the relationship.
Envy was seen to have a little influence on the brand attitude while Instagram post attitude influenced the brand attitude in a significant manner (Pitt et al, 2017). Despite envy having a marginally small significant influence on brand attitude, the influence is said to be positive in nature which implies that it can be used as a predictor of the post or brand attitude while also considering other factors simultaneously.
The consumer segment also has an effect on the influence of envy on the post attitude and brand attitude as found through Instagram. Based on the result after carrying out a multiples regression model, the foodie consumer segment was said to have more envy on the Instagrammers as compared to the non-foodie consumers. Since envy has a positive influence on the brand attitude, consequently brand attitude also increase among the segment of the foodie consumers.
Envy has a major role when it comes to predicting the attitude of the particular consumers towards a particular brand (Pitt et al, 2017). In this case, social media marketing should consider it as a crucial aspect when it comes to assessing the attitude of consumers towards various products or services which form the brand. Because the influence of envy on brand attitude increase based on the segments, it would be advisable to consider different marketing strategies for particular target consumers.
Communication and advertising strategies can be useful in evoking envy through the promotion strategies which would try to sell the positive benefits of brand attracting more consumers to test irrespective of their segment (Yeung, 2014). Marketing communications research is essential on campaign developments. Through marketing communication, the focus on the particular segment of consumers is made possible while it offers the perfect chance to transmit the benefits of a particular brand accurately.
RECOMMENDATIONS
It is important to adopt the best marketing strategies to ensure the brand’s name is well promoted to all the potential consumers. Based on the results and findings acquired from the research study, better insight about the marketing communication has been efficiently gained. Factors such as envy and source liking are found to have some great influence on the brand attitude. I would recommend that the right and specific marketing strategies such as the right communication channels are adopted during campaigns for different brands (Shen et al, 2016).
The specific marketing strategies based on the particular target consumers of interests is necessitated by the fact that the brand attitude and envy vary based on the segment of consumers. Other factors such as post attitude and the consumer preference should be considered during the social media marketing. The consideration of the factors and different aspects that influence brand attitude is essential in designing the right marketing communication strategies.
Pitt, J., Singh, C., and Ang, L. (2017). MKTG204 Investigating the effects of social media posts with branded information on consumer responses: Assessment Task 2B, Session 1, 2017 Consumer insights survey results. North Ryde: Macquarie University.
Shen, G. C. C., Chiou, J. S., Hsiao, C. H., Wang, C. H., & Li, H. N. (2016). Effective marketing communication via social networking site: The moderating role of the social tie. Journal of Business Research, 69(6), 2265-2270.
Yeung, H. F. (2014). Consumer Food Safety Insight: Pre-and Post-Survey Analysis of Consumers Receiving In-Person versus Web Based Food Safety Training (Doctoral dissertation, University of California, Davis).
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