How to write a salary increase request letter (with examples)

How to write a salary increase request letter (with examples) You’ve been plugging along at your job, picking up responsibilities, and rocking it for a while now- and even if you don’t have an annual review coming up for a while, maybe you feel like it’s time to start thinking about a raise. But unless you’re a seasoned negotiator, that may be no small task. If you don’t feel ready to sit down with your boss and talk it out, it’s best to start with a basic pay raise request letter or email to get the process started. Why to put your salary request in writingMost negotiation tips are created with a face-to-face interaction in mind- how to use effective body language, how to use active listening strategies, and how to frame your verbal request. However if you’re not quite at that stage yet, putting your request in writing gives you a chance to collect your strongest talking points (and spin them exactly how you want to) without having to worry about the ebb and flow of a negotiation conversation. I t’s also a paper trail, for better or worse, which can help you later.What to include in your letterAlways start with a friendly professional greeting and some background about your history in your job or with your company.For example:Hi Phil,As you know, I’ve been with the company for two years now, and I find it to be a challenging and rewarding environment every day. I have become a crucial member of the marketing team, working on initiatives that have increased our productivity and improved our results.Once you’ve set the tone, it’s time to touch on the specific achievements that you think merit a raise. You don’t need to go into great detail on each one- succinct, specific bullet points are the way to go. The letter shouldn’t be a long slog for the reader. Instead, think of it as a highlight reel.For example:In my time here, I have made significant contributions to the team’s success, including:Implementing a new SEO program that increased web traffic by 15%Improving social media response time by an average of 20 minutesDeveloping a promotional program that uses giveaways to increase brand awareness and customer engagementThen tell ‘em what you came for: what you’re seeking, and why. When you’re writing this, be sure to stay focused on your own achievements and growth. It’s not about what your colleagues get or what you feel like you’re owed- it’s about building a case for your value to the company.For example:I’ve exceeded the goals that were set out for me when I was hired, and I believe that going above and beyond my existing role merits a pay raise of 5%. This is in line with the industry standard for someone of my experience in this kind of role, especially with the goals I’ve met and exceeded in my time here.Again, this should be straight to the point. You should definitely have a number in mind, even if you don’t feel comfortable spelling it out as a starting point. Before you even start writing your request, do your research: check out sites like Salary.com or Glassdoor to see what people like you are making throughout the industry. If you make an unreasonable request, it could shut down your negotiation before it even really starts.Next, having made your initial pitch, it’s time to start wrapping up your letter. Offer to set up some time to talk about this in person or ask to talk about it in a standard one-on-one meeting with your boss.For example:I look forward to speaking with you in more depth in our next monthly meeting, and am excited about the projects we have on the horizon.Best,Jo Your letter doesn’t have to be hyper-formal, especially if you have a fairly casual relationship with your boss. But it should always be direct, polite, and professional. Even if you’re buddies with your boss, now is not the time for jokes or sarcasm. This letter or email should show you at your career best, and highlight you as a competent and productive professional.The note you write now will help set the tone for the negotiations to come and help you pull your thoughts together to ensure that you’re in a good position to get the raise you deserve.Good luck!

29 Memorable Quotes From Elf

29 Memorable Quotes From 'Elf' Since it was released in 2003, the movie Elf  has become a Christmas classic. Directed by Jon Favreau and written by  David Berenbaum, the film tells the story of Buddy (Will Ferrell), an orphan who is adopted and raised by elves at the North Pole. Believing himself to be an elf, Buddy begins to encounter trouble as he gets older and becomes too large to use the toy-making machines. He eventually learns that he is human and sets out for New York City in search of his birth father. Of course, hilarity ensues as Buddys childlike innocence meets the cynicism of the big city. Elf was a box-office hit, winning praise from critics and audiences for its quotable lines and Ferrells high-energy performance. Its refreshing take on innocence, goodness, and Christmas cheer still resonates with audiences. The quotes below include Buddys most famous lines. Swirly Twirly Gumdrops Buddys journey from the North Pole to Manhattan is one of the most famous scenes in Elf.  The sequence places live-action Ferrell within the stop-motion animated world of the classic  Rankin/Bass Christmas specials. Buddys description of his trip is one of the most famous quotes in the movie: I passed through the seven levels of the candy cane forest, through the sea of swirly-twirly gum drops, and then I walked through the Lincoln Tunnel. Encountering the Human World Much of the comedy  comes from the contrast between Buddys boundless cheer and the gritty realities of New York. Buddy has no experience in the human world. All he knows are ice skating and reindeer, candy canes and toys. Hes not prepared for the Big Apple. [On seeing a sign that says  Worlds Best Cup of Coffee]  You did it! Congratulations! Worlds best cup of coffee! Great job, everybody! Its great to be here. Good news! I saw a dog today! Im a  cotton-headed ninny-muggins. [To a doctor  performing  a paternity test] Can I listen to your necklace? [To a man on the elevator] Oh, I forgot to give you a hug. Its just nice to meet another human that shares my affinity for elf culture. Francisco! Thats fun to say! Francisco.  Frannncisco.  Franciscooo. [Answering the phone] Buddy the Elf! Whats your favorite color? Have you seen these toilets? Theyre GINORMOUS! [On cabs] Watch out, the yellow ones dont stop! [On the mail room] Its just like Santas workshop! Except it smells like mushrooms...and everyone looks like they wanna hurt me. [After chasing half-brother Michael] Wow, youre fast. Im glad I caught up to you. I waited five hours for you. Why is your coat so big? So, good news - I saw a dog today. Have you seen a dog? You probably have. How was school? Was it fun? Did you get a lot of homework? Huh? Do you have any friends? Do you have a best friend? Does he have a big coat, too? [From a note on an Etch A Sketch]  Im sorry  I ruined your  lives and crammed 11 cookies into the VCR. The best way to spread Christmas  cheer is singing loud for all to hear. We elves try to stick to the four main food groups: candy, candy canes, candy  corns, and syrup. Does somebody need a hug? I just like to smile! Smilings my favorite. Son of a nutcracker! Falling in Love Elf wouldnt be a Christmas classic if it didnt have a love story. After moving to Manhattan, Buddy begins hanging around the department store Gimbels, where he meets Jovie (Zooey Deschanel), one of the stores employees. At first, Jovie doesnt know what to make of Buddy, but she soon falls in love with his Christmas spirit. First, well make snow angels for two hours, then well go ice skating, then well eat a whole roll of Tollhouse cookie-dough as fast as we can, and then well snuggle. I think youre really beautiful and I feel really warm when Im around you and my tongue swells up. I thought maybe we could make gingerbread houses, and eat cookie dough, and go ice skating, and maybe even hold hands. Fake Santa at Gimbels Buddy is a kind, good-natured man. The only time we see him get angry in the movie is when a Santa comes to Gimbels and Buddy takes him to be an imposter, loudly insulting him. Buddy doesnt treat Santas elf much better. [Seeing a sign that Santa is coming to the toy store]  Santa! Oh my god! Santas coming! I know him! I know him! [To the fake Santa]  You stink. You smell like beef and cheese! You dont smell like Santa. What about Santas cookies? I suppose parents eat those, too? You sit on a throne of lies. Im in a store and Im singing! Hes an angry elf. [After getting beaten up by a little person, played by Peter Dinklage]  He must be a South Pole elf.

Argument Essay Example | Topics and Well Written Essays - 1000 words - 4

Argument - Essay Example Further, college enrolment at present day and time is shocking in the sense that, there is low college enrolment among the disadvantaged and minority groups. Socio economic factors, is also argued as another deterrent to progressive education in America, and this is evident among Hispanics, African Americans and the Asians. Surveys since 1980 have shown a static progress with respect to female enrolment in college (Ross & Kena 2012, p.5). The gap between the affluent and the disadvantaged has not changed for a while, and this provides the support for the argument that more need to be done to improve college enrolment in America. In a 2010 report, there is still a higher rate of non-white living in abject poverty whereby this result in constraints to enroll their children for college education (Ross & Kena, 2012, p.5). Barriers such as ethno-cultural inclinations act as an impediment to accessing college education. The underrepresentation among different cultural groups in the America n society is slowing down the progress of accessing higher education. There are other groups who feel not part of the establishment, and regard accessing postsecondary education as inconsequential. At the present, the education system is not active in appealing to the underprivileged groups. As a result, access to higher education in the American society still lacks equity, as there is need for an inclusive knowledge based society. In addition, there are issues not taken serious by the system, and this includes engaging in motivation the underrepresented of the benefit of accessing college education. This group still lack necessary information regarding the importance of accessing post-secondary education. Further, public funds are not equitably distributed to support the development of higher education in America. While other states are way ahead, there are other states that still require federal support. The regions with higher minority population still need federal funding to adv ance higher learning. There still occurrences where postsecondary students aspiring to join college are unaware of the existence of financial aid. As a result, the disadvantaged students give up on their ambitions to pursue higher learning (College Student Alliance 2011, p.30). In perspective, the situation regarding financial barrier to accessing higher learning is real. The number of youth accessing higher education from affluent homes remains higher compared to those from disadvantaged homes. There are no grassroots structures to help youth from minority groups accessing government aid and attend the prestigious colleges in America (College Student Alliance 2011, p. 30). On another note, social mobility still lack in the fabric of the American society and social status still dictates the university to attend. The percentage of affluent students enrolling in prestigious and private colleges is higher, compared to youth from poor families. Prestigious colleges are still reluctant i n providing enrolment information to the disadvantaged neighborhoods. According to Social Mobility and Child Poverty Commission (2013, p.8), it is still a common occurrence to record a smaller enrolment among the disadvantaged groups in prestigious institutions such as Oxbridge. The government participation in promoting higher educati

International Business Coursework Example | Topics and Well Written Essays - 2500 words

International Business - Coursework Example To this end, it is submitted at the outset that within the current framework, the globalisation of world politics and the complex nature of international relations in the contemporary environment has meant that increasingly the dynamic of international relations is intrinsically dependent on where the balance of political power lies within the international framework beyond the confines of theoretical ideologies underlying international relations theory (Siracusa, 2010). For example, Randin argues that arguably the most comprehensive manner to understand international relations is the interrelationship between state interest and where the balance of power lies within the international framework as evidenced by the post September 11 system of international relations (Randin, 2006; Baylis et al, 2008). Indeed, a prime example is the current conflict and concern regarding the UN resolution for a no-fly zone over Libya which was sanctioned irrespective of abstentions from numerous states . As such, this paper will review international relations theory and highlight the gap between theory and reality as highlighted by the contemporary socio-political framework of international relations (Baylis & Smith, 2005). ... n international relations is realism, which developed in the aftermath of the Second World War as reflected by the United Nations Charter, which focuses on mutuality of obligations in preventing a repeat of the atrocities of the war (Siracusa, 2010). This traditional model of realism was a product of its historical context and has continued to evolve (Randin, 2006). For example, within the realism paradigm, there are two strands of thought, namely; traditional and structural realism (Burchill et al, 2001), with leading theorist Morgenthau being a leading proponent of structural realism and Waltz was a leading proponent of neo-realism (Randin, 2006). Morgenthau’s theory of realism argues the theory of international relations being rooted in â€Å"philosophical basis of realist principles of human nature† (In Randin, 2006, p.15). The central basis of this argument is rooted in Morgenthau’s perception of human nature’s innate desire for power (Morgenthau, 195 4). On this basis, from a foreign policy perspective, the role of diplomats is important as a tool in the inherent power struggle at international level for ensuring priority is accorded to state interests (Milner, 1992). Whilst, this realist model of international relations has continued to evolve, it has nevertheless fuelled polarised debate between Hobbes’ realism model and Kant’s idealist model of international relations and the continued relevance of either in contemporary international relations (Borrie & Randin, 2006). For example, a core element of Kant’s theory of wills regarding freedom, public and private interest refers to the overriding Kantian notion of the â€Å"Supreme Moral Principle of Good Will† (Kant, in Nisbet & Reiss 1991). For example, Kant’s philosophy is rooted in an innate moral

Job Description and Recruiting Strategies Worksheet Essay Example for Free

Job Description and Recruiting Strategies Worksheet Essay Conduct an interview with someone who has a career or job position that is different from your own. Identify the duties associated with his or her position, as well as any skills and abilities necessary for the position. Use the information gathered in the interview, as well as the Week 3 readings, to complete the following worksheet. Answer each question in paragraph format. JOB ANALYSIS 1. What are the duties and job responsibilities associated with the position held by the individual you interviewed? The responsibilities for a Project Manager: Undertake management responsibilities for some or all aspects of the design and construction of new construction or refurbishment projects Obtain all necessary entitlements Plans and specifications. Tracking, and distribution. Plan check and permits. Tracking timelines, and pulling permits Plan review and bidding Office preparation for the start of construction Jobsite preparation for the start of construction Subcontracting. Prepare contracts, changes and additions to contractual agreements with consultants, suppliers, and subcontractors. Construction budgets and timelines Prepare and submit budget estimates, progress, and cost tracking reports. Implement quality control programs Take actions to deal with the results of delays, bad weather, or emergencies at construction site. Jobsite demobilization. Final budget reconciliation and close out with accounting. After action preparations. Coordination with Property Management, either GLB or building owner. 2. What are the types of knowledge, skills, and abilities that are needed to successfully accomplish the job responsibilities? 1. Bachelor’s degree in Architecture, Engineering, Construction Management, or related field; 2. Professional license/registration/certification preferred; 3. Building and Construction knowledge of materials, methods, and the tools involved in the construction of a building or other structures 4. Experience in negotiating and writing contracts for design professionals and contractors 5. Demonstrated knowledge of applicable laws and regulations governing environmental and construction permitting; and 6. Demonstrated knowledge of OSHPD (in California) procedures and requirements for assignments to projects under OSHPD jurisdiction. 7. Outstanding written and verbal communications skills including the ability to establish goals, set clear expectations, prioritize activities, and follow through to project completion. 8. Strong attention to detail.  9. Ability to weigh business and technical requirements to produce project plans and estimates. 10. Strong organization, time manage ment, and multitasking skills. 11. Strong understanding of all aspects of corporate software development; strong client, server, database, and reporting skills. 3. Does the position require any physical tasks? If so, describe the physical tasks and state their frequency. Is there any additional information about the job that would be beneficial to include in the job description? The overall nature of the position is deskbound in nature requiring little physical effort and occasional light physical exertion. There is occasional exposure to environmental conditions such as heat, cold, temperature changes, industrial noise, and construction hazards usually accompanied by business travel and visits to construction sites. The constant physical demands of the position are talking and hearing. The frequent physical demands of the position are sitting, standing and walking. The occasional physical demands of the position are carrying, pushing, pulling, handling, repetitive motions, and eye/hand/foot coordination JOB Description Compose a 350- to 500-word job description based on the data acquired in your interview. The Project Manager position will be responsible for leading the design build team in the process of design, permitting and construction of all construction projects assigned as your responsibility. This position will be responsible for planning, directing, coordinating, and or budgeting activities concerned with the construction of facilities. This position will also participate in the conceptual development of a construction project and oversee its organization, scheduling, entitlement and implementation. This position requires strategic and analytical thinking skills as well as attention to detail. Recruiting Strategies 1. What are three recruiting strategies that could be used to recruit for this job position? a. Internal through promotion or transfer b. Internet c. News paper 2. In 350- to 500-words, compare and contrast the recruiting strategies you have chosen. Which recruiting strategy would you use to recruit for this position? Why? Obtaining and retaining high-quality employees is critical to an organization’s success. As the employment market becomes increasingly competitive and the available skills grow more diverse, companies need to be more selective in their recruiting choices. I selected three options to compare and contrast: Internal recruiting: This recruiting process can be favorable as the employee will have history of the organization and the training can be minimal. It also builds morale within the organization as you are giving employees the opportunity for career growth. Recruiting internally can also be less costly than going outside to recruit. The downfall for recruiting internally is that is does not always produce the number or quality of  personnel needed. It can also be negative since you are not receiving new outside ideas. Another downfall is that you may cause rivalries between employees. External sources such as the internet and newspaper will provide greater exposure. Advertising in public sources provides the opportunity for more qualified people to apply for the position. The downfall is that it can be more expensive to advertise. For the project manager position, I would advertise the position in external sources such as the internet. Because it is such an important role and has so many responsibilities, you want to get as much exposure to insure a qualified individual.

How Do Pre 1914 Writers Create Mystery And Suspense Essay -- English L

How Do Pre 1914 Writers Create Mystery And Suspense In Their Short Stories? Common themes in the stories of the nineteenth century are horror, mystery and the unexplained. This is because in the Victorian times, people were concerned with problems such as superstition and witchcraft. Common features of Victorian short stories are paranoid characters. The stories ‘The Withered Arm’, ‘The Red Room’ and ‘The Signalman’ teach a modern audience the results and consequences of superstition and paranoia. The Withered Arm was written by Thomas Hardy. It is about a woman who is trying to bring up her illegitimate son while she tries to overcome her jealousy as her sons father brings home his new beautiful wife. The main message that Thomas Hardy is trying to get across to the reader is that you should be careful what you wish for as it may come true. Also that what goes around comes around. The main character in this story is Rhoda Brook, the mother of farmer Lodges son. In the story she is described as ‘a thin fading woman of thirty’ this shows that she is slowly wasting away. Rhoda Brooks is a mysterious character because the reader doesn’t know whether Rhoda is a witch or not, Thomas Hardy doesn’t reveal this fact because it makes the story mysterious and leaves the reader wondering. Another reason why Rhoda is mysterious is because of relationship with farmer Lodge and their baby together. Rhoda is also mysterious because she was once beautiful ‘The radiance lit her pale check, and made her dark eyes, that had once been handsome, seem handsome anew.’ The Red Room was written by H.G Wells the story is about a man who is trying to find out whether a room in the Lorraine castle is haunted or not. The mess... ...on, pathetic fallacy and has more descriptions in it. Also because it enables the reader to visualise the settings better. I think that the setting in The Signalman represent loneliness. The setting in The Red Room represents paranoia and terror and the setting in The Withered Arm represent fear and superstition. Therefore, Victorian writers successfully created mysterious short stories through using chapters, less characters and detailed setting. The most effective story is The Withered Arm this is because it has the most imaginative and interesting story line. Also because Thomas Hardy doesn’t reveal everything to the reader as it lets them debate over whether Rhoda is a witch or not. It shows a modern audience the effects and consequences of superstition. The moral or message of the story may have been be careful what you wish for as it may come true.

Catcher in the Rye by J.D. Salinger Essay

There are many examples in the Catcher in the Rye, that show Holden’s hate toward the idea of losing innocence. Holden mentions a lot about children, his love for them and how he wants to save their innocence. He seems to relate more to people younger than him, whether they are male of female. He cares about them so much, becuase they haven’t lost their innocence, unlike adults who are all â€Å"phonies.† There are three main things he does and talks about, that shows his concern. His fascination to save innocence, erasing profanity, and Allie’s baseball glove. The first thing he constantly mentions is the loss of innocence. Holden seems to gravitate toward children; he shows them respect more then anyone else. He backs this up by mentioning how childrem are not phonies. Whenever he is around children he seems to curse less, and he has a nicer attitude toward them, rather than complaining. â€Å"Thousands of little kids and nobody’s around – nobody big, I mean except me. Ans what I have to do, I have to catch everybody if they start to go over the cliff. I’d just be the catcher in the rye and all† (Salinger 173) He is more worried about the children and their innocence, then worrying about himself and school. The second things hes does is erasing the profanity that was written in the school’s walls. He hated the ides of children seeing it and reading the swear words that were being written on the walls. He has a feeling that children would lose their innocence and more or less have the mentality of an adolescent and become â€Å"phonie.† â€Å"Somebody’d written â€Å"**** ***† on the wall. It drove me damn near crazy, I thought how Phoebe and all other little kids would see it, and how they’d wonder what the hell that meant, and then finally some dirty kids would tell them.† (Salinger 201) What ironic is, that even though he doens’t want the kids to know any profanity, he always swears, even when he is around Pheobe. The third thing is that he keeps talking about his borther Allie, his baseball glove, and his death. Holden has a really hard time dealing with the death of Allie. Reason being that he does not like to see a child lose his/her innocence. He hates the fact that innocence was lost, and he could not save it, because he is not the catcher in the rye. The glove is the only memory of Allie and his innocence. Another thing that pained him is that his brother did not lose his innocence from adulthood, but from life and his death. â€Å"He got leukaemian and died when we up in Maine, on July 18, 1946. You’ve liked him. He was two years younger than I was, but he was fifty times intelligent.† (Salinger 38) In conclusion, Holden’s fascination with children exceeds everything, even the respect for his parents. Children in a way do have an innocent aspect. Holden’s perception of innocence made the book very intriguing, because no one knos what he is going to do or say next. It is almost like he has a double personality, sometimes he is cruel to people and criticise them, and sometimes he is caring and looked everything in a nice way, especially  children.

Barilla Spa

Nowadays, manufacturing and services firms face growing challenges to increase profit margins amidst increasingly fiercer competition. Under such circumstances, industry analysts and supply chain experts suggest manufacturers and service providers to promote more effective supply and demand planning, management, and execution as the means to unlocking significant gains in margins. By definition, Search CIO (2007) defines SCM as the management of information, materials, and finances along a chain of process from suppliers to manufacturers and then from manufacturers to customers.The interests in the discussion of supply chain management occur since it relates to costs reduction in all aspects of business process especially regarding the inventory reduction that suggests manufacturer produce goods when needed. The situation highlights that supply chain management will enhance lead time (time-to-market) of particular products, thus enabling all parties within an organization to manage t heir resources more effectively. Concerning the issue, this paper will describe supply chain management issue in Barilla spA, an Italian manufacturer that sells their products to its retailers mainly via third-party distributors.The competition in the market has caused unfavorable situation for Barilla during late 1980s when the company faced unpredictable demands from its distributors. 2. What are the reasons for the increase in variability in Barilla’s supply chain? Barilla maintains separate supply chain because the company has two general products: fresh and dry products, which required special treatment. In this situation, fresh products is mainly purchased from the two central distribution centers (CDCs) by independent agents who further channeled the products into 70 regional warehouses across Italy.Meanwhile, about two third of dry products are sold at supermarkets. Figure 1 explains the supply chain systems for Barilla. Figure 1 Barilla Distribution Systems 3. How ca n Barilla cope with the increase in variability? In order to succeed the distribution system, Barilla is known to practice the replenishment strategy, which describes an agreement between Barilla and their supplier to share the data about frequency and inventory levels to match Barilla demands (About. com, 2008).By delivering the products under the agreement with suppliers, Barilla is able to support their Just in time (JIT) distribution system, which is considered to be the optimum strategy to accomplish the company’s mission of having increased customers satisfaction. 4. What is the impact of transferring demand information across the supply chain? By sharing information between Barilla and their suppliers, there are positive impacts since the combination of JIT and replenishment strategy supports the demand fluctuations, reduced inventory level at warehouse, decreased stock-out levels etc.5. Can the Vendor Managed Inventory strategy solve the operational problems faced by Barilla? In Vendor Managed Inventory (VMI) strategy, the suppliers have greater responsibility over the supply since they are required to determine the delivery frequency and inventory levels in order to maintain the agreed stock levels in warehouses. In addition, the practice of this system also helps Barilla to track out-of-stocks and other performance data, previous years’ sales history and trends.Therefore, the practice of Vendor Managed Inventory (VMI) has solved the operational problems at Barilla. 6. How can the supply chain meet conflicting goals of different partners and facilities? In order to avoid the conflict between different partners and suppliers of Barilla, the company must ensure that the implementation of Just in Time system will help the maintenance of satisfaction in services, inventory levels, and stock-out levels and others in which each supplier has taken part of the system.In addition, Barilla must also ensure that within implementation steps, the use of EDI to deliver the inventory information is the same among suppliers so the reliability can be secured and the compatibility level can be reached. Reference: About. com. (2008). Reduce Inventory with these 3 Supplier Partnership Strategies. Retrieved September 7, 2008 from http://logistics. about. com/od/inventoryoptimization/a/supplier_partnr. htm Hammond, Janice H. (2008). Barilla SpA (A). Harvard Business School.O’Brien, Kevin and Brian Springman. (2004). Optimizing Supply Chains, Understanding Demands. Retrieved September 7, 2008 from http://www. crmbuyer. com/story/35892. html Search CIO. (2007). Supply Chain Management. Retrieved September 7, 2008 from http://searchcio. techtarget. com/sDefinition/0,,sid19_gci214546,00. html YAO Kao-hua, LIU Chang-chuan. (2006). An Integrated Approach for Measuring Supply Chain Performance. Journal of Modern Accounting and Auditing. Vol. 2, No. 10

3m Executive Summary Essays

3m Executive Summary Essays 3m Executive Summary Essay 3m Executive Summary Essay Over 50,000 patents extended over 13 technology platforms ranging from abrasives to polymers  ¦ Global company – companies in over 60 countries and 139 plants worldwide  ¦ Strong recognition for standard innovations with practical applications  ¦ Operational efficiencies cost of sales declining and margin % increasing over the years  ¦ IBD’s new strategy was to transform from margin expansion to top line growth  ¦ Corporate brand strength and technology behind its products with exclusive supplier status, product driven organization with strong RD direction, and geographic specialization  ¦ Through lean programs IBD is in progress to shorten the time to go to market  ¦ IBD is acquiring product specialization in tapes and adhesives are 50%-60% division turnover and abrasives are 40%-50%  ¦ Access to experience and knowledge pool of the worldwide organization and profiting from close connection in the marketing strategies of over 50 divisions in 3M  ¦ Natural fit with the culture of the Special and Niche categories  ¦ Groomed employees grow and develop to become product experts Weakness  ¦ IBD had not concentrated on the MRO segment because it was fragmented with slight brand loyalty  ¦ Sales reps were not accustomed to dealing with large corporations driven by networks, procedure and protocol but to store managers of small to medium sized businesses  ¦ IBD did not obtain customer specialization Weak marketing and sales strategy for National accounts  ¦ Quick decision making is lacking because 3M is a large corporation and a bureaucracy  ¦ 3M’s had not changed in terms of product application, service delivery mechanisms, customer expectations and logistics requirements as it has in the Industrial sector  ¦ IBD did not have cadre of â€Å"channel† specialists to complement the product specialists  ¦ IBD does not have an incentive program with reduction in supply chain costs of the large National players  ¦ Lacked to be â€Å"best in class† in logistics fulfillment, standardizing SKU’s and Just-In-Time delivery  ¦ No additional marketing resources were available to IBD Opportunities  ¦ MRO was growing at a double digit rate with large players (mega corporations)  ¦ Currency (3M Canada manufacturer can become more competitive)  ¦ IBD’s share of distributor sales was a measly 2% of the distributors revenue  ¦ In MRO the market share and driving scale was the largest because of its big market, large distributors are surpassing the growth of MRO market, in most product lines there are vacant spaces waiting to be filled, and there is an opportunity area with potential for both revenue and margins in the private labeling  ¦ IBD had to look outside the OEM segment for clients and revenue  ¦ Filtration was a future growth area Based on current technol ogy platforms, the division had recognized 9 product opportunities as having growth potential  ¦ The National category was the fastest growing out of the 4 types to due ongoing distributor consolidation  ¦ National player has a massive sales infrastructure in terms of branches, delivery center, and sales force, therefore IBD’s opportunity the integrate into the market quickly  ¦ The price of goods composed of only 39% of the total cost; the remaining 61% represented a large area of opportunity for supply chain savings Threats  ¦ OEM segment had become mature  ¦ Labour – 1hr of labour and benefits in Canada costs $11. 00US at minimum wage point and China’s labor was less than $0. 5US  ¦ Tracking the customer needs will be more difficult in the MRO market since they are not the end users  ¦ The alteration of currency can change the market trend fairly easily  ¦ When there is a slowdown in the industry where OEM is a part, distributors are always the first to be affected and the last to recuperate  ¦ Decline in Canadian manufacturing was influencing the OEM segment  ¦ MRO segment is fragmented; products could not be specialized  ¦ Off shore trends was growing  ¦ The deficiency of legacy expenses (RD) lowered costs for new competitor  ¦ E-commerce was growing a solid ground; therefore IBD had limited resources to reach end users  ¦ Industrial market was changing in areas of products, service delivery mechanisms, customer expectations and logistics requirements; therefore IBD had to quickly changing with customers needs  ¦ To increase the National distributors power with the manufacturers, hey wanted to cultivate their private label business and build their own equity in the trade  ¦ Constraints and protocols were established by the National players, as a result customized programs for marketing were now required to be created Current State of 3M: IBD’s Business IBD is a global firm that has a strong corporate brand with technology supporting its quality products. There are two types of end user applications IBD has in place; production plants and servicing facilities. IBD is a product driven organization with strong RD and holds over 50,000 patents internationally. Their tapes and adhesives have 50% 60% distribution revenue and abrasives have an astonishing 40% 50%. They were known for regular innovations with practical applications. OEM and MRO are major customer segments for IBD. OEM’s market is maturing and is creating IBD’s growth to be slow. They demand what IBD can support; high-valued items and brand quality since it is a part of the finished product. On the other hand, MRO segment is fragmented with little brand loyalty; hence IBD has not concentrated in this market. The MRO market was growing at a rapid rate and IBD could not ignore this. They commenced lean programs to strive for going to market in 18 months not 6 to 7 years. New marketing strategies were also coming to surface. Today they only receive 2% of the distributors’ revenue. IBD’s current channel seems to be direct selling and their sales are relationship driven. Sales representatives would meet a customer in person to create customer linkage. They would bring a sales toolkit that entailed a line of potential 3M products and technologies together because they are perceived as a sales stimulus. IBD’s key gauge of sales performance was maintaining existing clients and generating repeat customers. Also their clientele was mostly OEM; consequently their end users. Key Stakeholders IBD’s key stakeholders are Mahesh Yegnaswami, Vice-President of IBD, George Buckley, and Senior Management. Mahesh Yegnaswami is IBD’s national accounts manager. He will be recommending a plan of action to the vice-president on how the division will achieve the MRO market and increase organic revenue. The vice-president will take into consideration the plan of action and make the decision to send it forward to the senior management. George Buckley is the chairman, president and CEO of IBD. As a CEO he envisions an annual growth rate to 12% 15% by 2008. His new strategy was to move from margin expansion to top line growth, productivity gains and cost savings to market development and promotions. The senior management are the decision makers in regards to the plan of action and its implementation. They need to have consensus if the new strategy can be successful in obtaining the organic growth goal rate of 12%-15% or not. At IBD there are significant problems that need to be addressed for a successful organic growth. Problems occurred in areas such as logistics, marketing program, and sales model. The most fundamental crisis is that their current sales model will not achieve anticipated growth rate as authorized by IBD in a targeted time-frame. The possibility of revenue may decline since OEM segment is mature. By remaining in the traditional sales model, IBD may lose the opportunity of the growing MRO market ($14 billion) that will allow them to achieve their goal. If IBD does not penetrate the large distributors quickly, the end user may get too comfortable with existing competitors product and not even consider trying 3M. In addition, there is a prospect to penetrate where vacant spaces in most product lines are waiting to be filled. Current sales strategy will not work in the new market because IBD sales force was geared to â€Å"what to sell† and not â€Å"how to sell†. Furthermore their current strategy has a long sales process, which gives the niche market an opportunity to service the OEM market more quickly than IBD. Because they are a large organization and a bureaucracy, their traditional ways of marketing will not penetrate the MRO segment quickly enough to be competitive especially with higher prices. The sales staff is not trained to do relationship selling to National accounts. If IBD does not have the accurate product for the appropriate industry this may damage their company brand. Their overall growth goal of 15% will not be achieved and may cause necessary staff cuts and lower employee moral if IBD continues the same course. Moreover the employees in every department will unintentionally spill their low moral on to their clients. Everyone including the company brand will be affected. Once the principal problem has been addressed, it is important to determine the alternatives that IBD should consider in order to resolve the principal problem. First, an alternative that could be taken is to change nothing that IBD is doing and remain on the current way of conducting business. This would allow IBD to continue selling to their OEM accounts that are willing to pay premium price for 3M products. IBD is aware the OEM market is declining due to a rising Canadian dollar and the growing trend of off shoring to China. This should be considered if IBD chose to run their business as usual. In addition, IBD remained with the current course because their strengths of product innovation, new product introduction, getting â€Å"specified† for in-process usage, building relationships with business customers and working with them closely to reduce their cost of operations. However, IBD will need to consider multiple alternatives in order to make a decision on the best way to solve their principal problem. Another alternative that IBD could pursue is changing the customer focus from the current OEM market to the MRO market. There are four types of distributors in the MRO market, these are: National, Special, General, and Niche. The special and niche types were losing their traditional competitive edge, due to larger players building up domain expertise by acquiring product/process skills also, technologies were going off patent, and the manufacturing was open to all. The market share and driving scale in the MRO market is larger then that of the OEM market. This is because of a variety of major reasons; first the MRO market is larger and estimated to be worth $14 billion Canadian dollars. Secondly, there are vacant spaces in most product lines waiting to be filled, and 3M could capitalize on this. And finally private labeling is an opportunity area with potential for both revenue and margins. Also, Yegnaswami stated that â€Å"changing the customer focus from OEM to MRO gives us (3M) additional sales in the targeted time-frame†. Lastly, a third alternative IBD may take interest on would be to focus and sell to the MRO market in addition to the OEM market. The products catering to the OEM market are those of high-value items that will became part of the finished product. While with the MRO market the products are completely different with a focus on consumables of a low value. In addition, this alternative would allow IBD to focus on both markets keeping existing business in OEM market and grow in MRO. Overall, IBD has three alternatives to consider in order to solve the principal problem of the existing traditional sales model not being able achieve an anticipated growth rate as mandated by IBD within a targeted time-frame. In order for IBD to determine which alternative to focus the company’s efforts, some criteria must be generated in order to conclude to a decision. The criteria is an essential step in the process because it will show how to track the success of the alternative to the principal problem that 3M is having. The criteria is needed in order for IBD to evaluate the alternatives to the main problem. The main criteria in which to base the choice on is if the alternative will be able to achieve the goal of stepping up IBD’s annual organic growth rate from 3 – 5% in recent years to 12 – 15% by 2008. The criteria can be measurable on a quarterly basis by evaluating price values versus target. Therefore IBD will be able to continue to track their growth rate, and see if the alternative chosen is helping them achieve desired results. IBD will be able to see if the chosen alternative is working and make necessary changes to adapt to their strategy and objectives. Each alternative needs to be evaluated, and weighed against the criteria. This is a critical step in the decision on what to do about the principal problem for IBD. Alternative One The first alternative that IBD could take is to continue with their existing strategy, and not change their way of conducting business. This would mean to stay with the focus on the OEM market. Pros This alternative has some positive attributes for IBD to choose this option. Selecting this alternative will allow IBD to keep brand loyalty because in the OEM market, the brand is an important aspect in the buying process. In addition, this alternative will also allow for IBD to maintain their current high margins; this is because OEMs are willing to pay a higher price in exchange for premium products that adds value to their finished product. Also, this alternative will avoid channel conflicts within the industry which benefits 3M by allowing them to sell directly to customers. Cons This alternative is not without its faults to because this course of action ill not allow the company to achieve the mandated growth rate because the OEM business is decreasing. The OEM market is currently declining due to low production costs in China ($11 US vs. .15 cents) and the rising Canadian dollar. Also, the OEM market is currently maturing which would result in a flat line or decrease in sales over the years. Alternative Two The second alternative is for IBD to change their customer focus from the OEMs to the MROs with a focus on the national distributors section. Pros An advantage of this would be that the MRO market is fast growing in double digit rates with mega corporations. This would result in bulk sales and low unit margins would be offset by higher volumes. Also, IBD would not have to invest money on marketing to OEMs because they were already selling to this market and were very experienced and good at it. The distributors will be able to pick up tasks such as marketing and selling for 3M. Finally, the national players have an immense sales infrastructure in terms of branches, delivery centres and sales forces (inside and out) and are secured with large contracts. This would result in 3M being able to capitalize on this by using the national players’ sales force, and large contracts to increase sales. Cons This alternative does have its weaknesses, by dealing with MROs, only the result would be low margins for large volume sales because the MRO market is focused on price. In addition, the MRO industry is highly fragmented and does not care about brand loyalty. This could result in MROs going to competitors as soon as they offer them lower prices. Alternative Three Finally, the last alternative that IBD should consider is to focus on selling to both the OEM market as well as the MRO market equally. Pros If IBD were to take this alternative the company would have to become everything to everybody. IBD would gain variable margins such as high margins with the OEMs as well as low margins for the MROs. Cons However, there are many downsides to this alternative for IBD. They will not be able to specialize in a particular market as they would be able to by selecting other alternatives. This alternative is also very expensive because IBD would have to market to both the OEM and the MRO markets. IBD had a mandate to increase annual organic growth up to 5%. A promising way of achieving this goal is to switch customer focus from OEM to MRO because this industry was growing rapidly and is estimated to be worth $14 billion. Gaining a small piece of this market will upscale their growth portfolio. Continuing with their existing sales plan does not guarantee optimistic results, therefore needing to alter their sales model to serve this new channel and achieve this goal. IBD needs to focus on the ten biggest distributors in the MRO market, particularly National. In order to do that the organization will need some assistance from manufacturers’ reps. These reps will provide access to industry knowledge and experience that was needed because the distributors controlled the MRO market more than the suppliers. Existing relationships and large contracts with these distributors and the manufacturers’ reps will be a large asset that will leap to new contracts with 3M. In addition to servicing the National accounts by manufacturers’ reps, IBD should add three to four customer account managers (internally groomed). They will service each National distributor and ensure that they provide quick responses and push the decision making process. This is imperative because these accounts are in need of great customer care and such requests will not inconvenience the salesperson from focusing on attaining new business. Internal sales force is inexperienced for this new strategy as they are not qualified in dealing with large corporations. Instead they excelled at dealing with managers at small to medium sized businesses. Internal sales representatives will be the key individuals that will get closer to the end users throughout all industries. Their tasks will continue to maintain existing business accounts (particularly the OEMs) in their regional areas and ensure that they carry on as repeat buyers. Products that are sold in this market become a part of the finished product and brand loyalty is significant. As an entering good, it does compromise the quality of the finished product. This segment was mature with little room to grow, however products were perceived as high value and there was more room for profitability. Internal sales representatives will also serve as second level technical support for their existing accounts and end users of National distributors. This will assist in keeping control of end user data and ensure that their full needs are met. Supply chain management can be improved by implementing incentive programs with National distributors to purchase in volumes. This can be done by providing quantity price breaks as enticement to purchase in large volumes. Such strategy will increase production efficiencies, lower costs and provide a healthy inventory turnover. Another incentive that should be implemented is service stock agreements for specialized items. It is an agreement between the manufacturer and the distributor that the supplier will keep requested quantities in stock for them alone. This will cut lead times for the distributor and prevent inventory from turning into slow or obsolete. 3M has already implemented the Six Sigma programs that decreased their lead times and they do not have to carry as much inventory. National distributors had an immense regional infrastructure; therefore they will provide local products to the end users. The next step that 3M must take is to alter their traditional marketing programs that were originally aimed at the â€Å"Regional Specialists† segment. A new focus needs to be directed towards the National distributors. The phase that needs to be addressed immediately is pricing. Products for these distributors are commoditized where price is the key to competing in the market. A new price book will also have to be re-designed to be used as a tool for selling in this industry. The first step of the implementation plan is to schedule a meeting to discuss the new strategy as accepted by the IBD management. This meeting should include the following departments: senior management, human resources, sales staff (inside and out), marketing and business development. Mr. Yegnaswami should assign project managers for each area of implementation; sales model re-design, marketing, and logistics. A project outline will be designed in this meeting to state each milestone and set a target date for completion. Project managers will be given 1 month to gather resources and plan their strategy to move forward. Marketing managers will be responsible to develop a plan to penetrate the new market and this is where the design for the new price book should begin. At this point, human resources and sales managers should begin their research for employers of manufacturers’ reps. Simultaneously, 3M could begin grooming existing employees into Customer Account Managers. They will gain industry knowledge, inside selling tips, pricing, quoting, and telephone skills. Following a month of research for manufacturers’ reps, the sales manager should begin interviews with a minimum of three companies. Their decision should be made within two weeks. A national sales meeting should be scheduled two weeks after the appointment of manufacturers’ reps. This meeting should be used to introduce all inside and outside sales staff, including the customer account managers that will be working jointly with the manufacturers’ reps. Technical salespeople together with the customer account managers (CAMs) will use this time to provide technical product information and company policies (i. e. orporate objectives, return policy, freight policy etc. ). At this moment, the price book should be complete and ready to be introduced to the market. Manufacturers’ reps should use this opportunity to do joint sales calls with the technical reps and use t hem as support for any questions that may be specialized to a product. As a goal to shorten the sales cycle, promote the price book, and provide an incentive for the National distributor, salespeople should offer a discount of 5-10% on the distributor’s first stocking order for all items ordered from the price book. The next step is to hold a quarterly sales meeting (either local or through net meeting). Topics that will be evaluated are: budget versus actual sales and key performance indicators such as number of leads generated, qualified leads and quotes made. At this time the sales manager should evaluate the progress of each manufacturer’s rep. If progress is unsatisfactory, additional support will be provided in order to improve. During the annual meeting A potential risk involved with the new strategy is that 3M could hurt their brand name by creating a cheap image of their product. Currently they sell to a market that values the brand and will pay a premium price for the value that they are getting from the product. Selling to distributors who are price sensitive, 3M will have to consider the fact that they will be leading the market with price and not a premium product. IBD could overcome this issue by carefully evaluating the price elasticity of their products. All changes in price should have a reasonably large effect on the demand. Keeping the elasticity level at one will maximize the revenue and in fact assist in keeping their well known brand. By focusing their marketing efforts on the MRO National distributors, there is a risk that they will be facing channel conflicts. This conflict could exist when manufacturers like 3M and their distributors compete against each other when selling to the same market. IBD must properly design its channel to reflect the products that are sold in their targeted market. They must also mutually establish and align their business goals with their channel partners. In addition effective communication must be a priority with their distributors as these partners are necessary and viable for 3M to gain success. A further risk involved is improper setting of inventory levels. This is crucial to the business with the proposal of selling in volume. If these levels are not set up at appropriate amounts, 3M could be facing stock outs or overstocks that will lead to slow inventory. This could make or break their business. Logistics department should carefully monitor the product movement and make any adjustments to stay proactive with the product demand. If distributors have predictable buying patterns, salespeople could work with them to place blanket orders to ensure that inventory will always be available and their products will be pulled from stock. The last risk involved is that there are a handful of national distributors and if they were to lose business of one distributor, their sales would drop drastically. To overcome these risks, 3M should build close relationships with their distributors, always pledge to have open communications and avoid any risks mentioned above.

Getting Traction for Your Books †by Justin Mares

Getting Traction for Your Books - by Justin Mares Getting "Traction" for Your Books - Interviewing Justin Mares â€Å"Most startups don't fail at building a product. Most startups fail at getting traction.† - Traction BookThe same can be said of books. Most authors don’t fail at writing a book, they fail at finding their readers and selling the book to them. This is why we’ve always stressed how authors and startups are similar, and how, when it comes to marketing, authors can learn al lot from startups.So today, we decided to bring some of the best startup marketing advice to the Reedsy blog: Justin Mares is the co-author of the Traction book, a bestseller and true reference work for early-stage startups planning their marketing strategy. As usual, the transcript of the most important points of the interview is provided below Hi Justin, it’s really amazing to have you on our Reedsy podcast. You’re the co-author of the Traction Book, which I think is one of the very best marketing books for startups. For our listeners who don’t know about it yet, could you quickly give us the pitch?Sure! So Traction is a book that is there to help startups with the hard part of â€Å"what do you do once you have a product?† The book approaches how to go about setting up a growth process, how to figure out what channels are good for your business, and then has a chapter on each one of the 19 â€Å"channels† that we have identified as ways for a business to acquire customers.And you’re now releasing the second edition. What’s interesting is that you self-published the first one, and then got picked up by Penguin, how’s the experience been?Interesting†¦ Yes, it’s been interesting. Like anything, there are positives and negatives. On the positive side, the sec ond edition is in bookstores, it has been professionally edited, it is a lot crisper, we did a bunch more iterations and stuff like that, so it’s a really good book.On the negative side, things move a lot more slowly, and you lose some of the creative control that you have when you’re self-publishing a book.So on balance, I think it was the right decision, we’re really happy with Portfolio (Penguin), it’s been a great experience working with them, but there certainly are some positives and negatives.That’s really interesting, and I can definitely understand why, coming from a startup and tech background, you would find traditional publishing slow. Now, on another note, I like to think that authors are a little bit like startups, and that they should approach marketing in the same way we do. Would you agree with that?Definitely. And that’s something we mention in our book: if you approach things in a systematic way - that we talk about in our book- you are far more likely to have things work out. And we found that applying that process we describe in the book to our own marketing of the book had the same impact and allowed us to do really well.And that’s why I usually recommend authors to read the Traction book and use the approach you describe. Now, just quickly for our readers, could you sum up that approach?Sure! So what we talk about is basically: look at the potential channels (ways) you could market the book, and then figure out, if you want to sell, say, 5000 copies, which of these channels is going to allow you to sell that number of copies. [Read more about the â€Å"bullseye† approach here] Look at the potential ways you could market your book and test the ones that make most sense. So in our case we looked and we said: â€Å"ok, we think email marketing is going to work well, we think doing blog guest posts is going to work well, and we think podcasts will work well†. Once we figure that out, we ran small tests on each of these three channels. We measured them and saw that podcasts and email marketing far outperformed guest posting.So then we thought: great, let’s get on every potential podcast we can, get on every potential newsletter that has a relevant email list, and let’s just focus on those instead of doing all three of them in the hope that one will work (which is what a lot of people sadly do when it comes to marketing).This makes sense. And it’s interesting because, as you say, a lot of authors try to do everything at one time (social media, newsletter, advertising, blog tours, etc.) and when you do that, you lose focus and waste time and resources.Exactly. I mean, there are so many things you can do as an author, as a marke ter or as a business person to market your stuff. The possibilities are effectively limitless, so what you have to do is figure out what the best use of your time is, and spend as much time doing that as possible. That’s what our approach effectively tries to help people with: if you’re trying to sell your book, or grow your company, focus only on the things that really matter, and ignore everything else. That makes sense. The one thing that makes it a bit trickier for authors, is that often they sell their books through platforms like Amazon, iBooks or Kobo, which they don’t control. So how do you do the tracking in a case like this, how can you know which â€Å"channels† are bringing you which sales?Great question. This is something that is certainly a challenge, it’s not easy. But we found a couple of things you can do. For one, we could look at our rough sales rank and see, if we launch a certain campaign today, see what our sales rank does.The other thing you can do is set up Amazon affiliate links so that if someone promotes your book, you can give them a unique affiliate link that allows you then to see how many people clicked on the link and how many made a purchase as a result of it.That way we were able to track the number of people who bought through email promotions, through guest posts, through podcasts, etc.Yes, we’d heard the affiliate link t actic before (from Mark Dawson), so I’m glad you mentioned it. Now, you had this non-fiction book that you marketed very well. If you had to put yourself in the shoes of a fiction author, which channels would you test first?Hmm, it’s a hard one. I think basic marketing principles can apply here, and you’ve got to ask yourself the right questions.First, who are the people who are most likely to enjoy or resonate with your book, and where are they hanging out? Then, how are these people finding out about new fiction books today? What are the bestselling indie authors in your genre and how did they do their early-stage marketing?I would look at all these things and see what you can replicate and what you can’t.I think that one thing that is really powerful in driving book discoverability today is still word-of-mouth. Would you agree with that?Oh definitely, I’ve got 150 books on my reading list that have been recommended to me†¦So as an author, w hat can you do to help encourage or kickstart word-of-mouth?The biggest one is to write literally the best book that you could ever think of writing. One reason why I think Traction has done really well is that if you are someone who is working on a startup, I can legitimately recommend that book to you - even if I wasn’t one of the authors.I had coffee with someone four hours ago and he told me â€Å"oh yeah, my friend is running growth at this one company and he said that Traction was a really good book, so he gave it to me and now I’m meeting with you†. And that only happens when you write a really good book that becomes one of the reference works in its category.I think that’s the #1 thing you can do for word-of-mouth. Otherwise, things that we’ve done is we’ve inserted little bonuses where after reading the book, you can go get bonus material on the website and once you’re signed up to our mailing list we have referral systems li ke â€Å"forward this to a friend and we’ll give you another bonus†. 'To drive word of mouth, just write the best book you could ever think of writing.' @jwmares Thanks for the insights, Justin! And again, I really recommend the Traction book to both startup people and authors because it offers a good approach and a good breakdown of all the channels you can use to sell your books.Follow Justin Mares and Reedsy on Twitter: @jwmares and @ReedsyHQWhat channels have worked for you in your book marketing activities? How do you track your efforts and measure your results? Leave us your thoughts, or any questions for Justin, in the comments below!

Phase5 IP Markets for Labor Essay Example | Topics and Well Written Essays - 1000 words

Phase5 IP Markets for Labor - Essay Example For example, the cost for buying and diagnosing people with obesity and diabetes has reduced significantly because most people are trying to avoid unhealthy food due to higher cost of those foods (Gilman, 2008). The supply of cookbooks will fall/decrease significantly because an increase in tax leads to an increase in the cost of production because raw materials become expensive. This further leads to a decrease in consumption because consumers are rational and their aim is to maximise their utility as well as minimise cost. Therefore, increase in cost of unhealthy food will decrease consumption and supply (Spearman, n.d). Consumers are the ones who pay tax at the end because after the government has increased taxes, tax of certain commodities consumers pay this tax by buying the commodities. In above connection, this method may be good to finance health programs because it help to discourage consumption of unhealthy food which consequently reduces the cost that government incur on h ealth care facilities. This is because the cases of people with diabetes and obesity will reduce significantly. The other tax that government may use to increase revenues include: Income tax, corporate tax, capital gain tax, social security contribution tax, property tax, inheritance tax to mention just but a few. Income tax is levied/applied on individual earrings’ whereby; the state deducts certain amount of income that is within the tax brackets. On the contrary, corporate tax is the one that is levied on the company earnings while capital gain tax is the amount of tax levied on the earnings made after financial securities have been sold. Social security contribution is the amount levied on the amount that people contribute as savings under pension scheme. Property tax might be levied on individuals’ property such as land, real estates, motor vehicle among other non-current assets (Spearman, n.d). Part II Absolute advantage entails the ability of an organisation to produce goods and service more efficiently than its competitors using the same amount of resources as it competitor. An organisation with absolute advantage tends to have the ability to produce goods at a lower cost and later selling them at a profit. For example, if two companies have the same amount of resource but company A can produce 100kgs of wheat while company B can produce 50kgs, then company A may be said to have an absolute advantage over B. Therefore, in this case, the ability of Justcookbooks.com of becoming wildly successful in the United States presents an absolute advantage. On the other hand, comparative advantage entails the ability of a particular organisation to produce goods and services at a lower cost as compared to other firms. For example, if Japan can produce one car at 100 dollar and 1 motor bike at 40 dollars while U.S can produce the same car at 90 dollars and motor bike at 20 dollars then, it may be said that U.S has a comparative advantage of producing cars while Japan has a comparative advantage of producing motor bikes (Mike, 2013). When one focuses at becoming a multinational Corporation, one should be ready to face cultural and ethical issues, legal issues, human resource issues, etiquette and custom issues, political issues to mention just but a few. Cultural issues entail problems that arise due to increase in organisation diversity as a company goes global. Legal issues arise when a company must obey