Influence Of Sales Promotion Impulse Purchase Buying Behaviour Marketing Essay

Influence Of Sales Promotion Impulse Purchase Buying Behaviour Marketing Essay Purpose The purpose of this dissertation is to find out the influence of sales promotion on impulse purchase buying behaviour. This research is focused on the grocery retailer Tesco. Findings- From this study, it has been understood that sales promotions have a major influence on the impulse purchasing behaviour of consumers. It has also been verified that price promotion is the most influencing factor of sales promotion, which drives consumers towards impulse purchase. Conclusions and recommendations at the end of this research will be useful for students who study consumer buying behaviour and for retailers to implement a strategy for sales promotion. Originality/Value: Previous researches that has been carried out about impulse purchase has been influence of culture, mood etc. The function of this research is to find the influence of sales promotion on impulse purchase, which is important especially during the current economic recession. Introduction: This section of the dissertation outlines the research topic the researcher chose to study as part of his Masters in Business Administration (International) in Dublin Business School. This section is divided into the following parts. Background of the research Suitability of the researcher and interest in subject Research Objectives and Hypotheses Approach to the dissertation Recipients of the research Organisation of the research Scope and limitations of the study Background of the research: Ones own personal shopping experiences verify that occasionally we go into a store with no planned purchases in mind. Usually, however we go into a store planning to buy one or more specific items. Sometimes we know that those planned items are offered at a sale price, sometimes they are at regular price, and sometimes a mixture of both. We usually have an idea how much it will cost and how many of them we plan to buy. However, once we are in the store, we sometimes buy all we planned to buy; sometimes we buy more than we planned to buy. This would have happened because of something that stimulated us inside the store. It could be because of various reasons like sales promotions or store atmospherics or uniqueness of the product. This study is based on the influence of sales promotions on unplanned purchases like this called impulse purchase. Consumers buying behaviour is based on the needs of the consumer. This goes down to the basic level of consumer needs developed by Maslow(1971). He suggested a hierarchy of needs from the most basic to the most civilised one. Physiological needs, safety needs, belongingness needs, esteem needs and self-actualisation needs. To satisfy the needs, consumer buys things and this study is on the consumer buying behaviour. The consumer buying behaviour goes through a five sequential steps that is explained in the literature review of this article. Practically, when a consumer feels the need for buying things, he/she goes for shopping. There are many types of shops available, but the retail shop is where consumers can buy the things that they need for daily life. The concept of retail shops are now changing with the evolution of large supermarkets. Retail shops are now becoming one-stop-shops called super markets, offering vast number of product categories and services ranging from fruits and vegetables, off-licence, bakery, butcher facilities and even pharmaceuticals. It is a common fact that the large grocery stores and super markets have an unfair advantage over small players, by using a low cost selling, which the small convenience stores struggle to match. The Irish grocery retail market has evolved with many changes over the last few years. Tesco is one of the main players that exist in Irish grocery retail market. Organisations have started changing the methods of their grocery business over the last decade. There are innovations coming in the market everyday to attract new consumers and to retain them for a long period. Sales promotion is a quick way to strengthen the sales of an organisation. According to Kotler(2003), sales promotion is a key ingredient in marketing campaign which consists of diverse collection of incentive tools, mostly short term, designed to stimulate quicker or greater purchase of a particular products or services by consumers or trade. It is one of the effective methods in creating savings to the regular grocery shoppers. For retailers, the sales promotion is an excellent opportunity to promote their products in bulk thereby increase profit margins and consumer loyalty. There are various sales promotion tools used by the retailers, price promotion being one of them. Price promotions help the consumers to buy their goods for a reduced price. There are various types of p romotions which are described in the literature. A phenomenon called impulse purchase is considered as different form of consumer buying action. Impulse purchasing is a phenomenon by which a consumer experiences a sudden and often persistent urge to buy something immediately (Rook, 1987). It is an enigma in the marketing world, which accounts for substantial volume of goods sold every year. It is said that 80 percent of all purchases in some particular goods categories is made through impulse purchase. Virvialite(2009) based on Kacen and Lee(2002).This is a widely used by the retailers as they attract the consumers to buy things impulsively. At the present market conditions, when market competition is high and all types of companies apply promotion in their activities, stimulation of impulse purchasing in the market of consumer goods may become a strong competitive advantage. We go through this phenomenon in our daily life, knowingly or unknowingly. It is the feeling that one cannot resist at that moment, which are affected many fa ctors. An example of this would be when we see an advertisement in the store where it says Half Price sale, Was à ¢Ã¢â‚¬Å¡Ã‚ ¬3.99, Now à ¢Ã¢â‚¬Å¡Ã‚ ¬1.99. The aim of this study is to study the influence of sales promotion on impulse purchase. This research determines if the consumers go for an impulse purchase, if there are sales promotions. There is also a second part to this research which determines if the price promotion is the most important factor in sales promotion that leads the consumer to impulse purchase. This study is an important one considering the current economic climate. In this recessionary period, consumers who are doing grocery shopping actually care for the price factor and look for goods that are value for money. This study establishes the relation between sales promotion and impulse purchase. 2. Suitability of the researcher and the interest in the subject: The researcher is an engineering graduate in Information Technology. The researcher has four years of work experience in I.T and business fields. Researcher has a family business back India, which deals with retail and wholesale trading of steel products. The researcher was taking care of business for one year before coming to Ireland and has an idea of what is happening in the real business world. The ultimate career goal is to take over the family business and expand it with more concentration on retail sector. This study on consumer buying behaviour will certainly help the researcher in achieving this goal. The researcher is currently working in the retail sector and has observed many consumers going for impulse purchase because of the sales promotions. The researcher himself has fallen into the trap of impulse purchase when doing the grocery shopping on many occasions. This has specifically happened after the researcher came to Ireland where there are more sales promotions than seen elsewhere. This curiosity of the researcher encouraged to do a research on the influence of sales promotion on impulse purchase. Organisation chosen for the research: This research is conducted in Tesco, one of the biggest grocery retailers in Ireland. Tesco was founded by Jack Cohenand in 1919 and developed its first super market in 1956. They have come a long way through and now is the fourth largest retailer in the world, measured by revenues and second largest measured by profits. Tesco has its base at The United Kingdom and is spread across 14 countries all over the world. The company started its operations in Ireland as Tesco Ireland in 1997. The theme Every Little Helps is very popular in Ireland. Tesco has almost all the services that is needed in our daily life, including groceries, bakery, clothing, and mobile network. The researcher chose Tesco for the research because of he considers it as the best place where the study of sales promotion and impulse purchasing can be done in the context of a grocery-shopping environment. The research takes place in Tesco, Parnell Street in Dublin, Ireland. 3. Research Topic: Influence of sales promotion on impulse purchasing behaviour in the context of a grocery store. The aim of this research is to find out the influence of sales promotional activities on impulse buying behaviour in the context of a grocery retail store. With this purpose, the research will be conducted in Tesco, Parnell Street, Dublin, Ireland. This research focuses on answering the following questions: 1. Do sales promotional activities in store have a major influence on consumers impulse buying behaviour? 2. Is price promotion the major factor in sales promotion, which drives the consumers towards impulse purchase? Objectives: In order to answer each of these questions, the researcher came out with the following objectives. To identify the sales promotional activities in the store To find out if consumers actually go for an impulse purchase and the most influencing factor that affects it To determine if price promotion is the most influencing factor of sales promotion and if consumer purchase low priced items during impulse buying To justify this research, and to obtain the answer for the research questions, certain assumptions were made initially. Two hypotheses were developed which needs to be proved or disapproved. Hypothesis: H1: Sales promotional activities in the store have a major influence on customers impulse buying behaviour H2: Price promotion is the most influencing factor of sales promotion, which drives consumers towards impulse purchase. Approach to the Dissertation: The objectives derived will be obtained systematically in the research. Firstly, the secondary research is conducted using relevant sources to understand the research problem area in depth. Various sources like journals, textbooks, magazines and websites will be used in accordance with academic regulations. Primary research is carried out next with the help of self-administered questionnaires and focus group interviews. The quantitative data obtained through questionnaires are then analysed with the help of appropriate statistical tool and the result will be drawn. The hypotheses will then be tested with the results obtained and will proved or disapproved. Conclusions will be made and recommendations will be proposed based on the results. Recipients of the research: There are five recipients of the research that is conducted as part of Masters in Business Administration (International) in Dublin Business School. They are as follows: Dublin Business School where this researcher is a full time student studying for his qualification Liverpool John Moores university, who provides the qualification which the student is studying for Mrs. Linda Moran, who is dissertation supervisor, who guided the author through research process to date Staff and management of Tesco Ireland Ltd, who gave the permission for the research to be conducted on them Anybody who has interest in marketing specifically consumer buying behaviour, sales promotion and impulse purchase Organisation of the Research: Chapter 1: Introduction This section of the dissertation introduces the background of the research, the suitability of the researcher and the interest in the topic.   This section also states the research objectives and hypotheses. Further, it gives a brief description about how the research is carried out. This section also mentions the recipients of the research and also about the scope and limitations of the research.   Chapter 2: Literature Review This section the researcher critically reviews the literature which provides the theoretical background to the study. In the first section, the consumer buying behaviour is described in general. Further, the researcher introduces the concept of impulse purchase. The next section explains the sales promotions and its different types. The final section describes the relation between sales promotion and impulse purchase. Chapter 3: Research Methodology This section describes the research methodology adopted for undertaking the research. This chapter begins with the research onion proposed by Saunders et al.(2007) and proceeds layer by layer beginning from research philosophy towards data analysis. The justification of population and sampling method used are also discussed later. Chapter 4: Data analysis and Findings. This section describes the findings from the data analysis with the help of focus groups and questionnaire. Chapter 5: Conclusion and Recommendations. The section integrates the concepts of theories discussed in the literature review earlier and incorporates them with the data analysis and findings. The section concludes the research by providing justifications for proving or disapproving hypotheses. Recommendations are made and can be utilised by retailers and consumers for further studies. Chapter 6: Self Reflection on Own Learning and Performance. The section describes the researchers learning process and performance over the course of the International MBA programme. This section also describes the researchers development of various skills during the course. Chapter 7: Bibliography The section provides the list of various books, academic journals and websites that have been used in the dissertation. Harvard referencing system is used to reference the sources used. Chapter 8: Appendices Appendix includes the final questionnaire and project management Gantt chart. Major contributions of the study: Scope and Limitations of the research: The main limitation of this study is faced during the primary research. The sample size taken for this study is a small population and of consumers of Tesco, Parnell Street. The results and conclusions are based on a single store and cannot be used for generalisation. Another issue that the researcher faced while conducting the primary research is the biasing problem. The researcher has remained neutral to his best of the ability while conducting the focus group interviews and questionnaires. The study being cross sectional is only relevant for a particular period of the present research. Any future changes in consumers attitudes can alter the results of present research.

The Hours: A Story of Three Women Trapped in the Roles of Society :: Cunningham Hours Essays

The Hours: A Story of Three Women Trapped in the Roles of Society Many books have been written about women and their problems in life. "The Hours" is not just about women, It is a novel about life. It is about contemporary American society. "The Hours is about passion, depression, obsession and especially the ways women are shaped ,hindered and occasionally even inspired by masculine structures and expectations that engulf them"(1) It is a story that tells us how the behavior of mother can affect the life of a child. Three lives are intertwined through time and space to create a dynamic story. The book shows Laura depicting aspects of Woolf"s personality. They were both suffering from depression. Woolf committed suicide while Laura contemplated suicide. The effects of masculine structures and expectations from women pervade throughout the story. Virginia Woolf remains in Richmond because her husband is obeying the doctors even though she obviously dislikes Richmond. Laura was so devastated because she could not make the perfect cake for her husband. She was trying to play the role of the perfect mother and wife even though she was very unhappy. Clarrisan Vaughan spent so much time planning for a party that Richard did not want to attend. It is obvious that the women will keep themselves unhappy just to satisfy the needs of the men they are involved with. The only person who went against the grain was Laura Brown when she left her son . According to Ebert, Roger "Virginia and Leonard Woolf loved each other, Clarrisan treasures both of her lovers. But for the two in the movi e who cannot love, The price is devastating"(3).The effect is shown in how Richie, the little boy became Richard, the man that finally committed suicide to save himself from aids. Perhaps, If the mother had shown more love and had connected more to him, his life would have ended differently. "It is our great sadness and defeat when we can't connect because of madness or sadness of the soul or because of selfishness"(Vognar 2). This is depicted in both Virginia and Laura's life. The effect was suicide in Virginia's case and Laura abandoning her home. This ultimately led to Richard's death. It is interesting to note that only Laura survived in the family.

Toyota Production System -Business and Marketing Strategy, Swot Analysis and Its Implementation Plan

{draw:g} Contents Executive Summary *â€Å"Toyota Service Management and Project Implementation Plan*† Report provides the complete analysis of Toyota and its Production System. The report includes the brief history about organisation and consists of a comprehensive description about Toyota Production System (TPS). Further we have analysed the Business and Marketing strategy of the Toyota and performed the â€Å"SWOT† analysis in order to understand the strengths, weaknesses of the organisation and also threats to the organisation. The information that had been gathered via various means of the overall Business functioning of Toyota has been transformed graphically into â€Å"Blueprint† that helps us to have a better picture of Toyota’s business. Blueprint of Toyota has been embedded as a major part of the report. On the basis of analysis and blueprint a project plan has been devised to implement the project in a new location. The Project plan has been developed using MS Project and report encompasses the Activity on Node Diagram (Network Diagram) and Gantt Chart to give a detail explanation of the project implementation by breaking down the implementation process into different phases. Finally the report includes financial statements that include the Balance Sheet and Cash Flow sheet to implicate the financial transactions and cost the project would imply on organisation for starting a new venture in Melbourne. The Purpose of this report is to Analyse a Service Industry, its Business and marketing strategy, develop a blueprint, devise a project plan and financial budget for successful implementation of the company in Melbourne using various statistical and organizational information available. History and Background Toyota Motor Corporation is a multinational company headquartered in Japan and it is one of the best car selling companies in the world. The company was founded in the year 1937 by a successful businessman – Mr. Kiichiro Toyoda. [1] Toyota Group is the largest group of industries in the world. Toyota Industries develops and manufactures automobiles and automobile-related products, such as vehicles, engines, car air-conditioning compressors, car electronics components and devices, and stamping dies. In the vehicle and engine businesses Toyota has achieved a top-class level of quality and productivity within the Toyota Group and is contributing to Toyota Motor Corporation's car production. 9] Toyota employs the expertise it has mainly accumulated through its automobile manufacturing business to conduct business in a variety of other fields including housing, finance, communications, GAZOO, marine, and biotechnology and afforestation. [10] {text:list-item} Toyota's management philosophy has evolved from the company's origins and has been reflected in the terms â€Å"Lean Manufacturing† and Just In Time Production, which it was instrumental in developing. The Toyota Way has four components: Long-term thinking as a basis for management decisions. A process for problem-solving. Adding value to the organization by developing its people. Recognizing that continuously solving root problems drives organizational learning. The Toyota Way incorporates the Toyota Production System. [2] {text:list-item} Toyota has long been recognised as an industry leader in manufacturing and production. Regardless of the origin, the principles, described in Toyota's management philosophy, The Toyota way, are as follows: Base your management decisions on a long-term philosophy, even at the expense of short-term goals Create continuous process flow to bring problems to the surface Use â€Å"pull† systems to avoid overproduction Level out the workload Build a culture of stopping to fix problems, to get quality right the first time Standardized tasks are the foundation for continuous improvement and employee empowerment Use visual control so no problems are hidden Use only reliable, thoroughly tested technology that serves your people and processes Grow leaders who thoroughly understand the work, live the philosophy, and teach it to others 10. Develop exceptional people and teams who follow your company’s philosophy 11. Respect your extended network of partners and suppliers by challenging them and helping them improve 12. Go and see for yourself to thoroughly understand the situation (genchi genbutsu) 13. Make decisions slowly by consensus, thoroughly considering all options; implement decisions rapidly 14. Become a learning organization through relentless reflection and continuous improvement [2] Business and Marketing Strategy text:bookmark} {text:toc-mark-start} {text:bookmark} {text:toc-mark-start} {text:bookmark} {text:toc-mark-start} {text:bookmark} {text:toc-mark-start} {text:bookmark} {text:toc-mark-start} {text:bookmark} {text:toc-mark-start} {text:bookmark} {text:toc-mark-start} {text:toc-mark-end} {text:toc-mark-end} {text:toc-mark-end} {text:toc-mark-end} {text:toc-mark-end} {text:toc-mark-end} {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} {text:bookmark} {text:toc-mark-start} {text:bookmark} {text:toc-mark-start} {text:bookmark} {text:toc-mark-start} {text:bookmark} {text:t oc-mark-start} {text:bookmark} {text:toc-mark-start} {text:bookmark} {text:toc-mark-start} {text:toc-mark-end} {text:toc-mark-end} {text:toc-mark-end} {text:toc-mark-end} {text:toc-mark-end} {text:toc-mark-end} {text:toc-mark-end} {text:list-item} Toyota adopted series of globalization strategies to become a formidable contender in the global automobile market from being Japan’s number one automaker. The Business strategies have evolved over the years to earmark its global development and drive through all the steam in mist of challenges. Business Strategy currently pursued by Toyota has been described in detail: Growth Strategy by region:- Operations tailored to various conditions in each region Hybrid Vehicle (HV) Strategy: The strategy is to become number 1 selling automaker in HV market. Thus motive is to increase hybrid vehicle and unit supply capacity and making HV systems smaller and lighter and thereby reducing the cost. Management Foundation Strategy*: This is a unique strategy being adopted by Toyota for self improvement. The Binding reasons for developing these strategies are improving quality, reducing cost and developing human resources. {text:list-item} {text:list-item} Toyota has been aggressively pursuin g marketing strategy to effectively implement the business strategy. Toyota’s successes are largely due to its ability to identify growth opportunities and develop marketing strategies to capture them. Firstly, they achieved greater market penetration by marketing their cars as fuel-efficient, well-built alternatives to the gas-guzzling, problem-prone American cars. Secondly, Toyota was also able to identify new opportunities for market development and spent time on product development to tap into these markets. The results of Toyota’s product development were the creation of Lexus and Scion, brands that both offered a unique line up of cars, a unique brand philosophy, and services that target the luxury and youth market. Third, in spite of their successes in capturing new markets and achieving greater market penetration, Toyota occasionally downsizes their products such as the Celica and MR2. The goal was to make difference using sophisticated, normal way while still encompassing luxuries of everyday life. Toyota adopted marketing strategies to brand their car among the identified segmented market. [8] Marketing Strategy for Youth Toyota focuses mainly on the youth market by advertising through youth-oriented media (Rolling Stone, MTV, late-night programming), creating a flashy website to highlight their brand philosophy, and sponsoring live concerts. Not only does it specifically target the young buyers, but they also simplified their sales tactics by offering no-haggle pricing, which means that Scion dealers will not be allowed to negotiate prices or pressure a potential customer into buying, and giving their customers a high degree of vehicle customization. Because of these marketing tactics, Toyota was not only able to bring in younger customers but it also encouraged Honda and Nissan to consider introducing youth-oriented cars into their line up. [7] Marketing Strategy for US Toyota and other Japanese carmakers aggressively marketed their cars to Americans as being fuel-efficient, environmentally friendly, and having better build quality than American cars. In addition, Toyota marketed their cars as being hip and fun with memorable slogans like, â€Å"you asked for it, you got it, Toyota,† and with commercials involving young Toyota drivers jumping in the air. Toyota also decided to create a new brand because they had a reputation of being a company that only offered fun and fuel efficient compact cars. Hence they decided to launch a new car with heavy emphasis towards quality customer service. They also focussed on major metropolitan cities in US in order to maximize their revenue. 8] To sum up, Toyota is a great case study on how a company should develop, identify, and evaluate market opportunities and how to develop the right products and marketing tactics to capture such markets. SWOT Analysis Toyota Motor Corporation – SWOT analysis com pany profile is the essential source for top-level company data and information. Toyota Motor Corporation- SWOT Analysis examines the company’s key business structure and operations, history and products, and provides summary analysis of its key revenue lines and strategy. SWOT analysis provides a study of major internal and external factors affecting Toyota Motor Corporation as well as breakdown and examination of leading product revenue streams of Toyota Motor Corporation. [4] Strengths Global organization, with a strong international position in 170 countries worldwide. High financial strength (1997, sales turnover, ? 131,511 million), sales growth of 29. 3%. Strong brand image based on quality, environmental friendly (greener), customized range. Industry leader in manufacturing and production. Maximizes profit through efficient lean manufacturing approaches (e. g. Total Quality Management) and JIT (Just in Time) manufacturing and first mover in car research and development. Excellent penetration in key markets (US, China, EMEA) and now the second largest car manufacturer in the world, surpassing Ford. Weakness Japanese car manufacturer – seen as a foreign importer. Production capacity. Toyota produces most of its cars in US and Japan whereas competitors may be more strategically located worldwide to take advantage of global efficiency gains. Some criticism has been made due to large-scale re-call made in 2005, quality issues. Opportunities Innovation -first to develop commercial mass-produced hybrid gas-electric vehicles (gas and electric), e. g. Prius model. Based on advanced technologies and R&D activity. With oil prices at an all time high – this investment and widening of product portfolio fits consumers looking to alternative sources of fuels away from gas guzzling cars. To expand more aggressively into new segments of the market. The launch of Aygo model by Toyota is intended to take market share in youth market. To produce cars which are more fuel efficient, have greater performance and less impact on the environment. To develop new cars which respond to social and institutional needs and wants. The development of electric cars, hybrid fuels, and components reduces the impact on the environment. Toyota’s Eco-Vehicle Assessment System (Eco-VAS) has helped in production, usage, and disposal. Continued global expansion – especially in the emerging markets e. g. China and India, Russia, where population and demand is accelerating. Threats Saturation and increased competition, intense marketing campaigns increasing competitive pressures. Shifts in the exchange rates affecting profits and cost of raw materials. Predictions of a downturn in the economy e. g. recession, will affect car purchases (especially new cars). As household budgets tighten – this could lead a decline in new car sales and possible rationalization of dealerships. Changing demographics e. g. number of large families is declining. Undermining the demand for large family cars. Changing usage – families using the car less for taking children to schools. Home deliveries. Businesses – restricting business travel (tele-conferencing). Governments encouraging alternative forms of transport – cycling and incentives to use public transport across Europe. Service Blueprint A â€Å"Services Blueprint† is a process design tool which is a flow chart of the business operations. The blueprint for Toyota has been developed using the information available from different Toyota websites. The Blueprint involves all the steps from customer placing an order to delivery of car to customer. The blueprint is explained as follows: Customer Actions: The various customer action that have been identified are customer placing an order, Checking specifications on internet and enquiring about the details of car and placed orders. Final Customer action that has been identified is customer receiving the car and documents pertaining to car. The identified Onstage customer actions are the different payment details that will be available after customer places the order and also Customer Representatives that will be answering the customers queries regarding the current status of production stage i. e. whether car is in assembly stage or the car is still in welding stage or in delivery stage. Backstage Contact Employee Action: The Different Backstage Contact Actions that have been identified are the overall manufacturing process and the delivery of car from factory. Again the manufacturing process is broken down into Building the engine, making the body i. e. Press Plant, Welding the different parts of car to the body, Painting the car and finally assembling the different sections of car together with the body. Support Process: The different Support processes that have been identified are the records of the current production status for a particular customer. The need for carrying out thorough quality check is imperative to satisfy customer satisfaction level and has been identified as a Support process that complements the manufacturing process at every stage. {draw:frame} Implementing Project Plan The report encompasses project plan for starting a new venture of Toyota in Melbourne. Project Plan is a critical part in implementation and success of project. The estimated time, cost and resources help us to identify the budget and expected duration of project. The project Plan has been designed to implement a new project for Toyota from scratch by breaking down the whole process from setting up plant to delivery of car into different stages. The project plan also includes the time that will be required for completing the different tasks. The constraints that will affect the various task at different stages has been identified and defined in the plan. Following are the relevant activity and its brief description which can be tailored to fit the needs: Conceptual: – The first phase of project is to identify the Business objectives, conceptualising a plan, assessing the place for constructing a plant, staffing requirement and the different requirement for equipments. This again can be broken down into following tasks which consists of above mentioned subtasks: {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:bookmark} {text:toc-mark-start} {text:bookmark} {text:toc-mark-start} {text:bookmark} {text:toc-mark-start} {text:bookmark} {text:toc-mark-start} {text:bookmark} {text:toc-mark-start} {text:bookmark} {text:toc-mark-start} {text:toc-mark-end} {text:toc-mark-end} {text:toc-mark-end} {text:toc-mark-end} {text:toc-mark-end} {text:toc-mark-end} {text:list-item} Following is a brief overview of different activities or task with its subtasks. {draw:frame} {text:list-item} {draw:frame} Gantt Chart is a graphical representation of the duration of tasks against the progression of time. It is really useful while monitoring a project’s progress. The above Gantt chart helps us to identify the constraints and the tasks that are dependent on completion of other tasks in the overall Toyota project. Hence it helps to visualize the criticality of project and path and the success of project in Melbourne. Note: Due to Space constraint we have not been able to include the complete Gantt Chart. {text:list-item} Activity Network Diagram can be used within Toyota for detailed evaluation planning. Below is the screenshot of all major tasks identified in the project plan. {draw:frame} The screenshots attached below are of the tasks broken down into its subtask identified in the Project Plan. {draw:frame} {draw:frame} {draw:frame} Financial Factors of Project and Business The Financial factors play a major role in success of project. The financial factors that have been identified and will be impacting the implementation and success of project are: Changes in economic conditions affecting, and the ompetitive environment in, the automotive markets in Australia. Toyota's ability to realize production efficiencies and to implement capital expenditures at the levels and times planned by management. Political instability in the markets of Australia. Toyota's ability to timely develop and achieve market acceptance of new products. Fuel shortages or interruptions in transportation systems, labour strikes, work stoppages or other interruptions to, or difficulties in, the employment of labour in the major markets where Toyota purchases materials, components and supplies for the production of its products or where its products are produced, distributed or sold. 6] On the basis of project plan – the estimated time, resource requirement and cash flows for carrying out the various activities we have prepared Balance Sheet and Cash Flow for the whole Toyota project. The assumptions that have been made are listed below: {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} On the basis of above assumption we have developed the Balance sheet at the beginning and end of year and Cash Flow statement at the end of year which is given below: Balance Sheet at the End of Year Balance Sheet at the End of Year Cash Flow at the End of Year Conclusion The Primary goal of the report is to analyse Toyota- the way business is carried out and mechanisms by which it implements different processes. The analysis carried out about its business and marketing strategies helped us to devise the overall project plan for starting a new business in Melbourne. Hence on the above basis we devised blueprint and finally prepared the financial statements. The report has taken into account the various constraints i. e. technical and financial constraints that may affect the success of project. The Project that is stated for implementation is a profitable venture. Hence the wise move will be to implement the project due to huge demand in Australian market. References http://ezinearticles. com/? The-History-of-Toyota&id=2790459 ttp://en. wikipedia. org/wiki/Toyota http://www. toyota. co. jp/en/ir/presentation/2008/pdf/080828presen_1. pdf http://www. researchandmarkets. com/reports/541936 http://wiki. answers. com/Q/What_is_the_swot_analysis_ of_Toyota http://www. thefreelibrary. com/Toyota+Announces+Third+Quarter+Financial+Results+-+Net+Revenues+and†¦ -a0141766841 http://www. detnews. com/2003/autosinsider/0304/21/a01-141863. htm http://lifeinmotion. wordpress. com/2006/12/23/%E2%80%9Ctoyota-developing-strategies-for-growth%E2%80%9D/ http://www. toyota-industries. com/product/auto/ 10. http://www2. toyota. co. jp/en/business_field/ 11.

The View Of The Nature Of Reality - 2159 Words

1. Explain (the main ideas and views) and evaluate (by giving arguments) the view of Heraclitus regarding the nature of reality? A: Heraclitus nature of reality was based on the fact that the universe was always changing. He thought that there was no reality, according to Heraclitus everything was based on fire because like our lives fire also changes every single second. His famous quote â€Å"You can’t step in the same river twice† represents the change that we sometimes don’t see, because in his quote the fact that the rivers water is constantly flowing shows the change over time; Where when you want to step in it again is going to be different water from the one you steeped initially. I also think that Heraclitus is talking about how we†¦show more content†¦As Empedocles also sees the change in the universe he also wanted to know why it was happening. He thought that the two forces of the cosmos love and strife had an influence of the natural world and he envision these as the forces of attraction and discomposing because for example when different roots are harmonious and co me together they form love however with strife roots are repelled and seek their own kind bringing decomposition. 3. Explain and evaluate the view of Anaximander? A: Anaximander theory about the different substances explains how he believes that they came from more simple form that just water. He thought the basic substance must be ageless, boundless and indeterminate. He knew things were made from smaller particles that we were not visible. His interest in the fundamental substance that constitutes everything or in determining what the most important feature of reality was. He though what happen in the universe came from natural powers and processes for example how the seasons changed from heat,cold,wetness,dryness it all alternate to create our seasons. 4.Explain, evaluate and compare (by stating how they are similar or different) the views of Parmenides and Heraclitus. A: In comparison to Heraclitus theory of constant change in the universe Parmenides thought that there was no change only permanence. He believes that reality was changeless and that the