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marketing environment and marketing mix of Walt Disney

Contents I) INTRODUCTION 3 1. General Introduction 3 2. Market 3 II) MARKETING ENVIRONMENT 4 1. Micro – Environment 4 2. Macro – environment 4 2.1 The Economic Environment 4 2.2 The Cultural Environment 5 2.3 The Natural Environment 6 2.4 The Demographic Environment 7 III) MARKETING MIX 7 1. Target Market 7 2. Price 8 3. Product 8 4. Distribution 9 5. Promotion 10 IV) LESSON 13 I) INTRODUCTION 1. General Introduction Type: Public (NYSE: DIS) Year of establishment: 16/10/1923 Industry: Media and Entertainment Field of activity: The Walt Disney Studios, Studio Entertainment, Disney Consumer Products, Media Networks. Headquarters: City Burbank, Califorlia, United States. The head of: Brother Walt Disney and Roy Disney. Employees:†¦show more content†¦Reduced advertising revenue, fare in the complex theme park and revenue from the DVD release reduce the negative impact to profitability. Cable television division revenue decreased 8%. 2.2 The Cultural Environment - Through this environment, we can know the cultural values and social attitudes of the people. Each environment may be an opportunity but also a threat for any company. These are intangible factors but have a large role, especially as it affects the psychology and buying behavior of customers. Particularly the sustainability of the core cultural values and specific cultural factors will greatly affect marketing decisions, therefore, not only as marketing staff that any company taking customer focus needs to be addressed. - Disneyland is one of the pride of the American people, the success in California, USA and Tokyo - Japan has confirmed more prestigious and competitive position of Disney. But to our surprise that it was this giant failure on the battlefield in Europe. When vaguely intend to open another theme park of Disney, more than 200 localities worldwide has proposed Disney park at their hometown. Paris was chosen because more than 17 million Europeans live within a radius of two hours by car to Paris, 310 million people could fly there in that time or less. Moreover, the French government has drawn Disney with all kinds ofShow MoreRelatedPorters Five Forces Model1257 Words   |  5 PagesPorters Five Forces Model 4.1 Threat of new entrants Since the Walt Disney Company has been able to find a very unusual niche within the industry, the barriers to entry are relatively high. The company is to grow in the position over a long term period , and must be from the departments of research and development ( R D) , marketing and finance to develop . Dependence on past experience , the company representatives know , to a large extent what the target customer wants. Threat of substitutesRead MoreCase2 the Not-so-Wonderful World of Eurodisney1743 Words   |  7 PagesCase Analysis MKTG 650-6T1 Global Marketing Management Professor: Prof. Nicholas Name: Tim Date: 2/25/13 Case study: The Not-So-Wonderful World of EuroDisney Summary Euro Disney SCA formally launched its theme park to Europeans in April 1992 near river Marne, 20 miles East of Paris. It was the biggest and most lavish theme park that Walt Disney had built bigger than any of its Disney parks around the world. The location was chosen over 200 potential sites in Europe from Portugal through Spain,Read MoreThe Walt Disney Company Strategic Planning Analysis1139 Words   |  5 Pagesï » ¿The Walt Disney Company Strategic Planning Analysis Executive Summary Strategic Planning is the process of developing and maintaining a strategic fit between the organizations goals and capabilities as well as emerging market conditions and opportunities. Disneys primary strategic objective is to product high-quality content through their entire product mix. The company also had a record financial performance in 2010 led by the Disney movie studio last year was the first in history to makeRead MoreMarketing Audit5819 Words   |  24 PagesWalt Disney Corporation Marketing Audit Max McKay Sabrina Coady Henrik Oiseth Principles of Marketing 308 Professor Simpson November 14, 2006 Walt Disney Corporation Founded in 1923, the Walt Disney Company has predicated itself as the world’s best in the family entertainment business. After 80 years in the business, who could argue with that statement? Today, Walt Disney Corporation dominates the market of family entertainment. An unparalleled experience is the direct affectRead MoreBody Shops Marketing Strategy753 Words   |  3 PagesThe Body Shop Oral Presentation Methodology The marketing mix is frequently used as the foundation for a marketing strategy because it allows marketing managers to promote their products or services in relationship to the external environments and it also serves as a useful framework for decision-making (Manktelow, N.d.). There are many possible ways to understand and satisfy different needs and desires of a target market. The needs and desires of the consumer can be thought of in terms of theRead MoreDisney Movies Advantages And Disadvantages1388 Words   |  6 PagesAlternatives Disney’s tentpole strategy has been fairly successful throughout the Disney Studios lifetime. Even though this strategy worked in the past it may not be the best strategy moving forward, as there are advantages and disadvantages to this strategy. One advantage of this strategy is that the tentpole films attract movie going customers that think of the movies more as an event rather than just a film they want to see.â€Å"A $200 million movie is more likely than a $20 million movie to haveRead MoreDisney: Marketing Analysis6567 Words   |  27 PagesTable of Contents History and Current Situation 3 Marketing Mix 4 The Macro Environmental Analysis 8 The competitive environment 12 Marketing Objectivesn 13 International Operations 17 Conclusion 20 History and Current Situation The Walt Disney Company started off on the dreams of one man, Walt Disney. He started the Walt Disney Studios in 1926 to make animated films for children but was not satisfied with his accomplishments. As his motion pictures and television programs became successfulRead MoreThe Disney Company : A Mass Media Corporation, And Family Entertainment Service3155 Words   |  13 PagesStatement†¨ In this essay I will look at the corporate company The Walt Disney Company, and explore the marketing decisions, and nature of the brand design, and its value to the company. †¨Ã¢â‚¬ ¨Brief Overview The Walt Disney Company is a mass media corporation, and family entertainment service founded on October 16, 1923 by Walt Disney, and his older brother, Roy Disney based in Burbank, California. The company, whose name is commonly shortened to ‘Disney’ operates on a global basis, in both established, and emergingRead MoreDisney Theme Park to India3965 Words   |  16 PagesDisney Theme Park to India Abstract: This report is aim to analyze profitable adventure of The Walt Disney Company to set up Disneyland theme park in India. As one of main emerging markets in Asia, India might be the next destination for The Walt Disney Company to target on. Therefore, this report uses a series of marketing tools to demonstrate the macro-environment and micro-environment in India, such as PESTEL, SWOT, Porter’s Five Forces Model and Self Referencing Criteria. Based on this analysisRead MoreWalt Disney Parks and Resorts3974 Words   |  16 Pageshttp://www.blurtit.com/q200168.html Disney Theme Park to India Disney Theme Park to India Abstract: This report is aim to analyze profitable adventure of The Walt Disney Company to set up Disneyland theme park in India. As one of main emerging markets in Asia, India might be the next destination for The Walt Disney Company to target on. Therefore, this report uses a series of marketing tools to demonstrate the macro-environment and micro-environment in India, such as PESTEL, SWOT, Porter’s

Definition and Examples of Reporting Verbs in English

In English grammar, a reporting verb is a  verb (such as say, tell, believe, reply, respond, or ask) used to indicate that discourse is being quoted or paraphrased. Its also called a  communication verb. [T]he number of  reporting verbs  that can be employed to mark  paraphrases  is around a dozen, author Eli Hinkel reported, and  they can be learned with relative ease while working on a writing assignment (e.g.,  the author says, states, indicates, comments, notes, observes, believes, points out, emphasizes, advocates, reports, concludes, underscores, mentions, finds), not to mention phrases with similar textual functions such as  according to the author, as the author states/indicates, in the authors view/opinion/understanding,  or  as noted/stated/mentioned. Tenses and Their Uses Most often, reporting verbs, such as seen in fiction to show dialogue, are in the past tense, because as soon as a speaker says something, it is literally in the past.   George Carlin illustrates this in this example of reported speech: I went to a bookstore and  asked  the saleswoman, Wheres the self-help section? She  said  if she  told  me, it would defeat the purpose. To contrast with  words spoken once, putting a reporting verb in the present tense is used to show an adage, something that someone has said in the past and continues to say or presently believes. For example: She always says how hes not good enough for you. Next, a reporting verb may be in the historical present tense (to refer to an event that took place in the past). The historical present is often used for dramatic effect or immediacy, to place the reader right in the scene. The technique should be used sparingly, so you dont create confusion, but its use can make for a dramatic lead to a story, for example. The year is 1938, the place, Paris. The soldiers smash shop windows and run through the street  and yell...   You also use reporting verbs in  the literary present tense (to refer to any aspect of a work of literature). This is because no matter what year you watch a particular movie or read a book, the events always unfold in the same way. The characters always say the same thing in the same order. For example, if youre writing on Hamlet, you might write, Hamlet shows his anguish when he speaks his To be soliloquy. Or if youre reviewing fantastic movie lines, you might write, Who can forget when Humphrey Bogart says  to Ingrid Bergman, Heres looking at you, kid  in Casablanca?   Dont Overuse Reporting Verbs When youre writing dialogue, if the identity of a speaker is clear from the context, such as in a back-and-forth conversation between two people, the reporting phrase is often omitted; it doesnt have to be used with  each line of dialogue, just enough times to make sure the reader doesnt get lost as far as whos speaking, such as if the conversation is long or if a third party interjects. And if the lines of conversation are short, using a bunch of he said she said gets distracting for the reader. Its more effective to leave them out in this instance. Overusing creative substitutions for, said can also get distracting for the reader. A reader goes by said quickly and doesnt lose the flow of the dialogue. Be judicious in using substitutions for said.   The line of dialogue belongs to the character; the verb is the writer sticking his nose in, wrote Elmore Leonard in  The New York Times.  But  said  is far less intrusive than  grumbled, gasped, cautioned, lied. I once noticed Mary McCarthy ending a line of dialogue with she asseverated, and had to stop reading to get the dictionary. Sources Teaching Academic ESL Writing. Routledge, 2004Elmore Leonard, Easy on the Adverbs, Exclamation Points and Especially Hooptedoodle.  July 16, 2001

Media Coverage of Sports, Questions and Answers - 894 Words

Question #1: Step-by-step analysis of mediated sport â€Å"Magazines are different from other forms of media in their ‘exceptional’ capacity to shape social life† (Kennedy Hills, 2009 p. 96 para.3). This statement encapsulates the drive and focus of magazine media; by focusing on the current issues to help form the values, norms and beliefs of the readers. Sports Illustrated (SI) had a feature story dealing with the mystery surrounding the star running back for the Denver Broncos, Knowshon Moreno (KM), and his crying on the sideline during a game against the Kansas City Chiefs. The cover of this issue asked the reader to interpret the issue in a certain way. Step 1: Selecting the case study As stated previously, the source of study will be the cover of the Sports Illustrated issue dealing with KM. The limits of the case study will encompass the full cover including side stories at the top and bottom of the page. The analysis will not include the actual article written, just the cover that draws the reader into the magazine. Step 2: Describing case study The main person being depicted on this cover is KM whose image was converted into a naturalistic psychological portraiture oil painting (J. Hayes, personal communication, March 22, 2014). The image is of him having tears running down both of his cheeks with the tears having a ‘pop’ sensation since they are located on the dark complexion of his skin. KM image takes up most of the cover with just a close-up shotShow MoreRelatedGender Stereotyping : A Televised Media Sports Coverage1332 Words   |  6 PagesTelevised Media Sports Coverage Anonymous University of Arizonaâ€Æ' Abstract Sports fans usually acknowledge various sports through different mass media outlets. To develop our comprehension of social qualities inserted in sports and to investigate current values and power structures in regards to men and women, it is important to explore the potential impact that media may have in manipulating conventions about gender-appropriate sport conduct. One question that will be answered is, does mass media influenceRead MoreThe Creation of Excitement in Sports Commentaries Essay1518 Words   |  7 PagesIntroduction: The 2012 London Olympics was a phenomenal media event, with the BBC reporting that 90% of the UK population tuned in to watch at least fifteen minutes of the television coverage. Televised sport regularly boasts impressive viewing figures, but the Olympic Games generally entices the public more than most, with people all over the world encapsulated by the international contests. On Saturday 11th August 2012, Mo Farah won the Olympic gold medal for the men’s 5000m race to secure a historicRead MoreGender Equality Within College Athletics1405 Words   |  6 Pagesenforced gender equality in all schools. At the time Title IX was enacted, only 30,000 women were participating in an NCAA sport, compared to the 170,000 men. The National Collegiate Athletic Association, or NCAA offered no scholarships to women, nor did they offer championship tournaments (Tigay). Since the enactment of this law, the number of women who compete in college-level sports has increased more than five time s since 1972, however, advocates say there is still a significant amount of work to beRead MoreEssay on Comparing Television and Internet Sports News1315 Words   |  6 Pagesin the last 6 years many television news station have also add a website to their media coverage. ESPN is no different; the station still has Sports Center where all the viewers can keep up with their favorite sport, but ESPN also has the website www.msn.espn.go.com where the viewer can get the same or even more information than in the television broadcast. Which is better? Why would a person choose one form of media over the other? It is not that one form is better than the other, it depends whatRead MoreWomen s Participation For Sports1152 Words   |  5 PagesAbstract In this paper I will discuss how women’s increased participation in sports has been productive in attempting to change the patriarchal status quo; and why some sill believe that things have not changed the status quo remains intact. I will also debate this difference in perception explaining my personal stance on the issue and why. Finally focusing on the impact this has on African Americans and other minorities. Changing the patriarchal status quo Gender has been the central standardRead MoreAttendance Vs Nba Attendance : Stats, Marketing Strategies, And The Reasoning Behind The Discrepancy1718 Words   |  7 PagesIs this variation a result of women’s professional sports not having a large fan base, differing marketing strategies used by the WNBA and the NBA, less attention to women’s professional sports by the media and sports broadcasting networks, or a combination of all three of these issues? Through the use of statistical data, one can determine that attendance levels are favorable to the NBA as opposed to the WNBA. In an attempt to answer this question, I examine marketing strategies such as digital marketingRead MoreJon Stewart Discussion On The Ferguson, Missouri Coverage1504 Words   |  7 PagesIntroduction The satire option that I chose for the purpose of this assignment is the Jon Stewart discussion on the Ferguson, Missouri coverage. Here, Jon, the satirist is an arbiter of American political media, and as a media critic, he is also the former television host of The Daily Show which is a satirical news program that airs on Comedy Central. In the video, Jon Stewart critiqued topics revolving around the shooting of teenager Michael Brown by the police. The topics ranged from policeRead MoreEssay on The Influence of Violence in Sports1553 Words   |  7 Pagesin Sports Sports are an important part of our world. Take a look at any newspaper, listen to any radio, or watch TV for any length of time and there will surely be some sports information that is being passed along. The fact that sports figures get paid salaries that teachers can only dream about lets us know where our priorities lie in this society. Sports consume a lot of our time and energy, and because of this, they have great influence in our culture. Because sports news and sports figuresRead More The Lack of Womens Sports Coverage Essay example1826 Words   |  8 PagesThe Lack of Womens Sports Coverage   Ã‚  Ã‚  Ã‚   Can womens sports establish itself as a topic of on-going media and journalism curiosity?   Currently TV stations do minimal coverage of womens sports, while newspapers and magazines do just a little bit better.   In a recent interview with Gary Webb, a sports writer for The Spectrum, he says that the people have demonstrated that there is an audience that loves hearing about women athletes.   After all, they are somebodys kids, sisters, and momsRead MoreRed Bull Stratos Analysis1382 Words   |  6 Pageswho we are†. Patrice Radden, director of corporate communications at Red Bull) The main objective of the company is to communicate their slogan â€Å"Red Bull gives you wings† to a huge audience, in a way never seen before, through a range of extreme sports and events Red Bull organizes and supports. Although Red Bull is a global market leader, they always aim to create extraordinary events, as a part of the attempt to retain their position and not lose market share to their biggest and most aggressive

Mr Kazimirs Valujs Free Essays

NCFE Level 2 Certificate in Equality and Diversity Unit 1: Exploring Equality and Diversity Session 4: Prejudice and discrimination What does it mean? In a diverse society where each individual may have lots of different characteristics and qualities, there are many opportunities for people to label and stereotype others. When this happens, it can create an environment where prejudice and discrimination may be found. A prejudice is an unfair or unreasonable preconceived view or judgement that is formed without being based on any specific grounds or sufficient knowledge. We will write a custom essay sample on Mr Kazimirs Valujs or any similar topic only for you Order Now Discrimination means treating a person or group differently, often in a negative manner, based upon one or a small number of characteristics. Stereotypes can sometimes be positive – however, this is not the case when it comes to prejudice. With prejudice, the views held about certain groups of people are negative, they are applied to an entire group and they tend to be strongly held. So, the group (with possibly a different gender / race / ethnic origin / sexual orientation or with a disability) will be described in negative ways. They will be called things such as ‘lazy’, ‘stupid’, ‘weak’, ‘dangerous’ and ‘untrustworthy’. In communities and societies where prejudice and discrimination are found, people will have fewer life chances and a poorer quality of life. Given that prejudices can be so damaging, it is worth looking at how people develop them. How people may develop prejudices There are many ways that people may develop prejudices. Two of the most common are: 1. Socialisation The most likely way that people will develop prejudices is to learn them from other people, such as family and friends. An individual will experience the views of these people on a daily basis, and there will also be the influences of the media and the views of high profile people. If a young person with no alternative points of reference is exposed to prejudices that are stated as facts, then he / she may accept them without any questions. If a particular prejudice is regularly presented, then it is difficult for people to question the viewpoint and challenge the prejudice. 2. Over generalisation A second way prejudices may develop occurs when a person has a powerful experience and then generalises it to a particular group. This is usually caused by a very strong negative experience. It may well be very sensible to dislike or distrust the particular experience, but the over generalisation is not always accurate. Different types of discrimination People can describe themselves or others in terms of one or more characteristics. At times, it is possible that a person will be treated in a negative way because of a characteristic or quality that they possess. This negative treatment is often referred to as discrimination. There are a few key terms that are used when talking about discrimination. These are: †¢ Direct and indirect discrimination †¢ Dual discrimination and multiple discrimination †¢ Positive discrimination †¢ Discrimination arising from disability †¢ Discrimination by association †¢ Protected characteristics. The effects that discrimination and prejudice can have on people When people are subject to discrimination they often end up with a quality of life far lower than they would reasonably expect. Historically, discrimination and prejudice has sometimes been a matter of life and death in some countries and cultures. Some of the effects of prejudice and discrimination include: †¢ People being killed because of their race, nationality, religion or sexual orientation. †¢ People being denied the right to vote. †¢ People being subjected to physical attacks and verbal abuse. †¢ People being deprived of legal rights. †¢ People being denied education, jobs and opportunities. †¢ People being generally treated as outsiders and second class citizens. †¢ People accepting the negative views of themselves. Communities and whole societies having greater conflict and being less efficient and harmonious. †¢ Communities and societies built on hatred and contempt. When people are classified (stereotyped) on the basis of one or two characteristics, they are stripped of many of their qualities. A stereotype reduces them to a one dimensional character. All th e other things that make a person special and human will be ignored by the prejudiced people. This makes it easier to inflict pain and suffering on innocent parties. This is why prejudice and discrimination are so dangerous. How to cite Mr Kazimirs Valujs, Papers

Risk management project of organisation- MyAssignmenthelp.com

Scope of the Project Question: Discuss about the Risk management project of organisation. Answer: Strengths The main strengths of this company that will in getting back its business in the market are, It provides Standard style clothing -It provides clothing for men and women - It has well respected designer label - Additionally it has its reasonably priced at outlet stores throughout the country. -Its clothing collections appeals to a variety of customers from different age groups - The organization is able to compete well in the high middle class range and up - The clothing also attracts traditionally conservative consumers. Weaknesses From this clothing business organization it is important to provide low cost products, this products and prices of the product needs to be balanced. The company needs to efficiently communicate with its customers as well as ask for feedback to improve its business performance. External Factors Affecting the Business Political factors: As the change in the political scenario and government of the country can change the business policies which may adversely affect the business of this organization. Economic factors: As the economic policies such as taxation policies, inflations rate in the country affects the whole structure of the industry, thus leads to different adverse economic effects on the business organization. Technological factors: The automation of numerous incompetent tasks and operations can enable organizations to help human workforce in production lines with completely machine ones. This can diminish costs for producers, merchants, grocery stores, and numerous other diverse organizations. SCOPE The scope of this project includes the prioritization of the risks in this acquisition project for the business (Bowers and Khorakian 2014). Risks with higher priority should be mitigated and planned for before lower priority risks. This project also assess the impact to the business if the risk occurs. It also build a scale appropriate for the business. Goals and Objectives of the risk management plan The goals and objectives of this risk management plan includes the following, In order to recognize and organize potential risks that may affect the business. Create and develop risk administration techniques and monitoring techniques. Use predetermined risk administration strategies, instruments and procedures to help the organization. In the examination and announcing of distinguished risk occasions Find approaches to recognize and assess risks. Develop methodologies and plans for enduring risk administration procedures Scope of the Project Deliverables Related Goals Critical Success Factors Assessing and prioritizing the risks according to different contexts Avoiding the risks in future so that the adverse effects can be eliminated or minimized. Proper use of the risk assessment tools and procedures. Assessing the impact of different risks on different parts of the organization and aligning the strategies accordingly. Minimization of the impact of the risks so that future occurrences can have lowest impact on the organization. Efficient risk mapping according to their impacts. Risk assessment report For the future referencing by the organization in order to manage the similar risks efficiently. Proper documentation of the taken strategies to manage and minimize the impact of the risks. Stakeholders Stakeholder Internal / External Role in process Stake in process Project manager Internal To manage the whole risks management project. Expand and efficient management of the business. Employees Internal Providing input to the mitigation plans and improve the risk mitigation strategies. To be able to manage their tasks without the adverse effects of different risks in business. Suppliers External To provide external business data that are related to the different risks in the business due to external factors. Improved supply chain with better communication among the both parties. Customers External Helping the business in improving the services and products Having better products and services. Creditors External To improve the strategies and align them as per the needs of the business. To have better return on their investment. The relationship between each group of the stakeholders and the identified CSF Critical Success Factors Stakeholders Responsibility and contribution Project manager Managing the responsibilities and assigning resources to complete the project. Employees To complete the different tasks in the project so that risks can be effectively evaluated and managed. Customers Asses and provide input against the implemented risk management strategies. Suppliers To manage the supply chain operations and mitigate the risks. Communication With relevant parties who can support Relevant Parties for support Methods to communicate Kind of support required from Each Employees and project manager Mails and weekly meetings Reports on assessment Employees and suppliers Face to face meetings Input against the risks. Suppliers and project manager. Mails Environmental Analysis SWOT Analysis: Strengths : As the business organization is one of the oldest business organizations thus ca easily acquire Competitive advantages against other traders in the terms of user satisfaction and believe.in addition to that experience and knowledge in the field also helps the organization. Innovative designs from the organization also helps in getting better market share in the market. In addition to that, the stores throughout the country also helps to have batter revenue and customer reach. Weaknesses: The business organization lacks of Continuity, supply chain robustness, Effects on core activities. In addition to that it also lacks of effective leadership and Management cover, succession for better performance of the business. Opportunities Market developments and Competitors' vulnerabilities provides better opportunities for this organization (Bowers and Khorakian 2014). In addition to that, changing Industry or lifestyle trends, technology development and innovation, entry to new markets and Niche target markets also help this organization to grow its business. Threats Some of the threats that may affect the business of the organization is day by day increasing competitions from the rival companies, changes in the trade laws etc. Pest analysis Political The business environment for the organization depends on, future legislation, international legislation , regulatory bodies and processes, government policies , government term and change , trading policies, home market pressure- groups Economical The economic trends, general taxation rules taxation on specific to product/services market/trade cycles, specific industry factors, distribution trends by the suppliers, customer/end-user drivers, international trade and monetary issues will also have significant impact on the business. Social The following factors can have a significant impact on the risks management plan as wells as on the business of the acquired business (Bowers and Khorakian 2014). This are, demographics, consumer attitudes and opinions, business and economic law changes, buying access and trends, advertising and publicity by the organization. Technological The technological issues such as competing technology development, manufacturing maturity and capacity, information and communications, consumer buying mechanisms/technology, innovation potential Global communications also affects the business. Risk Diagrams Risk Management process Flowchart at the business Stage Two Analyzing the risks Risk assessment table Associated Risks Likelihood Impact Increasing Competition from the competitors Almost certain Moderate Change in the business and taxation laws. possible Minor Lack of critical resources Rare Extreme Risk Assessment Matrix Risk Matrix Likelihood (1)Rare (2)likely (3) possible (4)Likely (5)Almost certain Consequences (1) Insignificant (2) Minor (3) Moderate (4) Major (5) Extreme Risk Rating and treatment options Risk in the order of Priority Treatment options 1. Lack of critical resources a) Maintaining a resource pool in order to mitigate the risks. b) Implementing an effective employee retention policy in the organization. 2. Change in the business and taxation laws. a) Aligning the business operations according to the new rules so that impact on the business can be minimized. 3. Increasing Competition from the competitors a) Use of business diversification strategy. b) Improving the supply chain for better performance in the market. Team Feedback Report What are the hazards? Who might be harmed and how? What are we already doing? Do we need to do anything else to control this risk? Action by whom? Action by when? Done Change in the business and taxation laws. The Sales department and the performance of the organization. Aligning the business operations to make them compliance with the new rules. . Sales manager [please fill] Lack of critical resources The Production line of the business organization. Hiring new employees. Implementation of Employee retention policy. Executive managers. [please fill] Increasing Competition from the competitors The customers. Getting new products from the other emerging business organization. Automating the total production line of the organization. Improving the supply chain of the organization. Production manager [please fill] Stage Three Identifying measures to treat the risks Description of Risk Assess Risk (Low, Medium , High , extreme) Controls (treatment options) / Mitigation Action Monitoring tools Timeline (Date of Review) Individual/Group responsible for mitigation action Changing business environment and competition Low Taking new measures to and strategies Risk register [please fill] Employees and managers. Change in the legislation and taxations rules High Aligning the strategies and modify the strategy to cop up with the change. Risk register [please fill] Project manager Lack of critical resources Low Hiring employees and providing training to them. Risk register [please fill] Top level management and employee. Action plan Finding a way to decrease the likelihood of an antagonistic risk happening might be more compelling and less expensive than repairing the risk after adverse effects of the risks has happened (Bowers and Khorakian 2014). In any case, some risk mitigation options may just be too exorbitant in time or cash to consider. Mitigation actions ought to be reported in the Risk Register, and assessed all the time. They include: Identification of potential effect focuses for each risk mitigation actions. For every point, archive the occasion that would raise alerts demonstrating that the occasion or factor has happened or achieved a basic condition. For every risks occurrence, give contrasting options to adjusting the impact due to this risk. Monitoring and Evaluation of Risk Management Plan To evaluate the adequacy and efficiency of the Risk Management Plan, it is important to set up measures and furthermore standards for the desired performance. The measures can be might be contrived in-accordance with Government Regulations or the industry leading standards. Once sensible models are built up, the arrangement can be measured, through an assessment process, ceaselessly after some time against them with an end goal to: measure the actual execution outcome against the built up standard for the performance of the plan. Alter the plan for at least average performance by the developed plan. As the risk mitigation process includes two stages: Identifying the different exercises, or methods, to lessen the likelihood or potentially effect of a negative risk. Creation of a Contingency Plan to manage the risk when it ocurs. Stage Four Implementing and monitoring the risk treatment plan Report on Ongoing implementation of the Risk management Action Plan Risk management plan Development The top level management and the project manager will create and set up a risk to oversee operational risks, including insurable risks, at these levels following a similar centre process as above and coordinating with arranging and administration exercises. Risk Identification Workshops Workshops will be booked and encouraged by the office, to recognize, survey and assess risks utilizing the hazard reference tables. Risk Aggregation and Prioritization Risks recognized will be amassed into organized records as per organization structure and masterminded in sliding level of risks and ampleness of existing controls rating with chance acknowledgment choices. Treatment of Risks Risks will be dealt with as per needs, existing administration forms and by the officers showed by the level or hazard. Treatment designs will be created and actioned by needs. Developing Risk Register A register will be made to hold the hazard postings, choices and treatment outlines including vital dangers. References Bowers, J. and Khorakian, A., 2014. Integrating risk management in the innovation project. European Journal of innovation management, 17(1), pp.25-40. Carvalho, M.M.D. and Rabechini Junior, R., 2015. Impact of risk management on project performance: the importance of soft skills.International Journal of Production Research,53(2), pp.321-340. De Bakker, K., Boonstra, A. and Wortmann, H., 2014. The communicative effect of risk identification on project success. International Journal of Project Organisation and Management, 6(1-2), pp.138-156. Marcelino-Sdaba, S., Prez-Ezcurdia, A., Lazcano, A.M.E. and Villanueva, P., 2014. Project risk management methodology for small firms. International Journal of Project Management, 32(2), pp.327-340. McNeil, A.J., Frey, R. and Embrechts, P., 2015.Quantitative risk management: Concepts, techniques and tools. Princeton university press. Pritchard, C.L. and PMP, P.R., 2014.Risk management: concepts and guidance. CRC Press. Teller, J., 2013. Portfolio risk management and its contribution to project portfolio success: An investigation of organization, process, and culture. Project Management Journal, 44(2), pp.36-51. Pritchard, C.L. and PMP, P.R., 2014. Risk management: concepts and guidance. CRC Press. Power, M., 2016. Defining and Managing Risk: A Study Investigating Critical Success Factors Relating to Client Expectation and Associated Risk Management in Design and Construct Projects. Bucero, A. and Englund, R.L., 2015, October. Project sponsorship: Achieving management commitment for project success. Project Management Institute.

Highlighted the Ethical Issue at KPMGâ€Free Samples for Students

Question: Discuss About the Highlight the Ethical Issue at KPMG? Answer: Introducation The ethical issue refers to the case published in the Wall Street Journal that highlighted the ethical issue at KPMG. The case features the ethical breach that occurred at KPMG office that led to the firing of 6 officials at the firm due to access to audit warning from a third party on audit information. KPMG accounting firm has its six employees fired after accessing improper warning ahead of planned audit inspection by the regulatory body, Public Company Accounting Oversight Board. In the case, an individual who had joined the firm in the recent times from the oversight company received information from a former colleague at the firm on the planned audit sections and disclosed the information to the rest of the team at KPMG. Consequently, the information undermined the integrity of the oversight body and its process of auditing accounting firms. The individuals involved in the access of information within the KPMG firm were guilty of gaining access o an audit plan which would prevent full disclosure of information essential to the oversight body. On the other hand, the employee in the monitoring firm involved himself in an unethical act of disclosing confidential information to an individual who had left the firm to work for another accounting company. The action amounts to an ethical dilemma as it jeopardizes the ability of the oversight firm to perform optimum in the intended audit activity. On the other hand, the new employee at KPMG acted unethically by receiving such information most probably due to the relationship he had with the previous company and thus breached the ethical conduct regarding employees to treat information with confidentiality. In the first case, he was not supposed to disclose the information to the rest of the team as it would limit the potential of the firm to remain accountable to the team. In this respect, exposing the information led to a breach of the ethical conducts in accounting where information from one firm is not supposed to be carried by a third party whatsoever. Despite the opportunity the firm had to utilize the information, it was unethical to gain financial information up for an audit before the actual exercise as it creates a disparity in providing a clear training by the oversight firm. The firm stood faced the threat of tainted image due to the ethical issues raised that could lead to mistrust and close of business with prominent partners. The act would limit the profitability of the company since most businesses would disassociate themselves from doing business with the firm thus leading to financial losses. Therefore, it is unethical to disclose information or receive information on an audit before the actual exercise as it prevents a free and fair audit which results in a false report. In providing solutions to the firm and clearing the bad name created by the employees, the firm could suspend the mentioned individuals and set them on a due legal process. The legal step would cater for the breach of the ethical codes in accounting concerning secrecy of information and gaining of financial information on audit before an actual audit. Moreover, it should have taken a step to seek for possible reputation damage to the company occasioned by the access to information by its members from the oversight audit firm. The act is dangerous to the operations of the firm as it lowers the trust level and the fairground under which accounting firms are supposed to operate. Afterward, it would be fair enough to lay off the individuals involved in the unethical practice and hand them over to the legal processes that might be done thereafter and as well disassociate itself from the activity and the perpetrators to the act. In recommending, the act by the employees could have positive effects on the firm but then place the company in danger should the information be disclosed to the oversight body. Therefore, it was essential for action on firing to take place on both ends beginning with the employees from the Oversight body that disclosed to the former colleague with the full knowledge of the effect it might have to the firm of present employment. Fair practice is essential in accounting where people have to act ethically at personal levels. The firm can improve its performance and image by airing the issue and retracting from the expected audit. By so doing, the firm ought to inform the oversight audit firm of the breach on the audit information to have them prepare a separate audit procedure that would be different from the existing one. Redeeming of the image is essential for KMPG as a known and trusted firm globally. Therefore, it would be fair enough to treat the matter with the urgency it deserved to quickly disassociate itself from the act and brand the persons involved as the sole perpetrators of the act that contravenes the organizations ethical codes. Indeed, the case presents several lessons on the dangers of having employees that fail to consider the secrecy standards expected in a financial institution. Leaking and receiving leaked information whose access gives one an upper hand in a certain matter is detrimental to the overall performance of business. In this case, it is important for firms to establish critical steps that allow information secrecy. At the same time, it is essential to gauge the ethical standards of individuals to avoid damages on the image of a company. Also, it is wise for a company to come clean and reject such unethical information despite the benefits it may deliver to a firm during an audit evaluation. Damage to a company image can bring dire consequences to the market performance due to reduced trust and image distortion. The present firm needs to engage in serious ethical training on its employees to highlight the dangers involved in involving oneself in such acts. Besides, employees must understand the dangers it poses to a firm and the consequences of the same towards a sustainable career. For instance, persons reported in the case lose their personal reputation and might not be absorbed easily by other firms thus a career distortion. The boards of directors need to recheck its ethical guidelines and ensure all aspects adhere to the international code of ethics to make the firm relevant and updated on the lines that lead to success and brand image promotion. Reference List Blake J, C. Gowthorpe editors. Ethical issues in accounting. Routledge; 2005 . Henderson S, G. Peirson, K. Herbohn, B. Howieson. Issues in financial accounting. Pearson Higher Education AU; 2015 Zadek S, R. Evans, P. Pruzan. Building corporate accountability: Emerging practice in social and ethical accounting and auditing. Routledge; 2013 Hartman LP, JR, DesJardins, C, MacDonald, LP, Hartman. Business ethics: Decision making for personal integrity and social responsibility. New York: McGraw-Hill; 2014. Collier PM. Accounting for managers: Interpreting accounting information for decision making. John Wiley Sons; 2015 Gao X, W Zhong, S Mei. Security investment and information sharing under an alternative security breach probability function. Information Systems Frontiers. 2015 Maroun W, J. Atkins. Section 45 of the Auditing Profession Act: Blowing the whistle for audit quality?. The British Accounting Review. 2014. Chad, B. KPMG Fires 6 Over Ethics Breach on Audit Warnings.2017. Retrieved from https://www.nytimes.com/2017/04/12/business/dealbook/kpmg-public-company-accounting-oversight-board.html?ref=topics_r=