What Do The Terms Governance Risk Management Mean

ï  ¶ What do the Terms Governance Risk Management Mean? ‘Governance’ depicts the general administration approach through which senior officials direct and control the whole association, utilizing a mix of administration data and progressive administration control structures. Administration exercises guarantee that basic administration data achieving the official group is adequately entire, precise and auspicious to empower proper administration basic leadership, and give the control components to guarantee that methodologies, headings and directions from administration are completed methodically and successfully. ‘Governance of Risk Management’ is the consideration given to forestalling unreasonable hazard administration by remembering the†¦show more content†¦Corporate governance, Risk Management, and Compliance (GRC) are three aspects that help guaranteeing that an association meets its targets. Administration is the blend of procedures set up and executed by the executives (or the top managerial staff) that are reflected in the association s structure and how it is overseen and driven toward accomplishing objectives. Chance administration is foreseeing and overseeing dangers that could impede the association to accomplish its goals. Consistence alludes to following with the organization s strategies, systems, laws and regulations. GRC is a teach that means to synchronize data and action crosswise over administration, chance administration and consistence so as to work all the more proficiently, empower compelling data sharing, all the more viably report exercises and keep away from inefficient covers. Albeit deciphered distinctively in different associations, GRC ordinarily incorporates exercises, for example, corporate administration, undertaking hazard administration (ERM) and corporate consistence with relevant laws and controls. Associations achieve a size where facilitated control over GRC exercises is required to work viably. Each of these three orders makes data of significant worth to the next two, and every one of the three effect similar innovations, individuals, procedures and data. Generous duplication ofShow MoreRelatedRole Of Internal Audit On The Organization Outside The Finance Department1121 Words   |  5 Pagesorganizations risk management, control and governance processes to help improve them. Internal auditors (IA) assess how well risks are being managed in an organization, how the organization is being governed and how well internal control systems and processes are working. They report their findings to senior management, highlighting and advising management where improvements in systems controls and processes are necessary. By evaluating an organization’s risk management and assisting management in improvementRead MoreIntroduction 2 Corporate governance Requirements†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦.3 The link betwwen1700 Words   |  7 PagesIntroduction 2 Corporate governance Requirements†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦.3 The link betwwen Governance, Risk management, and Compliance (GRC) 4 The major procedures to apply the overview requirements 5 The importance of corporate governance practices 6 The benefits of corporate governance practices 7 Conculison†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..8 References†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..9 Introduction Recently the globalization of financial sector, and banking marketsRead MoreDo All Companies Have The Same Governance Requirements?1133 Words   |  5 PagesDo all companies have the same governance requirements? The Corporations Law, the AICD and the ASX all follow the same line on governance of companies. All companies are the same – they may be small or large, listed or private, closely held or widely held, have a single employee or 50,000 employees, but the governance is constrained within the same model. But is this true of closely held companies established for PPP investments in infrastructure? The complex governance structures typical of infrastructureRead MoreTransparency Is Key Aspect of Corporate Governance1331 Words   |  6 PagesThe boards of directors are responsible for the governance of their companies so there has to be transparency in company reporting. Transparency is key aspect of corporate governance because of implementing corporate governance this will allow stakeholders and shareholders to review and evaluate performance of management and the company this ensures that the board of directors and the executive directors of corporations act in the best interest of shareholders and the corporations. It is implementedRead MoreCase Analysis: Assessing the Goal of Sports Products, Inc.1152 Words   |  5 PagesJenely P. Sabio-Almirol December 5, 2011 a. What should the management of Sports Products Inc. pursue as its overriding goal? Why? The management of Sports Products Inc. should pursue maximization of shareholders’ wealth as its paramount goal. As far as we know, the stockholders are the owners of the firm and the ones bearing the most risk in running it. In line with this, the board of directors and/or the management is elected to take charge of the resources of the aforementionedRead MoreExecutive Pay Matters - Uk1036 Words   |  5 PagesRemuneration 2017 will mean renewal of executive remuneration policy for most listed companies. Whilst that may seem like a considerable time away, in order to have draft proposals ready for shareholder consultation in October (or earlier if you want to avoid the rush for investor attention), turning your mind to your policy review once this year s DRR is published may make a whole lot of sense. But how do you know where to start? An increasing number of client companies are undertaking a risk assessment ofRead MoreThe Importance Of Governance And Value Chain1493 Words   |  6 PagesIntroduction IT governance is a way that organizations establish a structure for decision making, how they describe the leadership and establish who will be accountable for the IT work that needs to be done. IT governance needs to start at the top and every other level in the organization need to participate for it to be successful. Governance is especially important within IT because it helps them to better understand the requirements and strategies of the business. IT is then in a better positionRead MoreCorporate Governance For A Future Economic Crisis Essay1288 Words   |  6 Pages-Can corporate governance prevent a future economic crisis. Ten years ago, corporate governance was still in the concept stage. There wasn’t a lot of information about corporate governance. After some big corporate failure that hit the economy, it has become obvious that corporate governance matters. After the collapse of Enron,Wordcom,..a new regulation was born (Sarbanes Oxley).The law was implement to increase transparency and to promote integrity and accuracy inside the companies. UnfortunatelyRead MoreThe Agency Theory For The Best Interest Of The Shareholders1234 Words   |  5 Pagesthe managers . Most of the literature on corporate governance finds its roots in agency theory the relationships normally occurs when the principal hires the agent to perform a service on the principals behalf. the decision making authority is delegated by the principal to the agent.However the relationship between the principal and the agent can not be as simple and smooth as it appears (Theory of Mallin, 2010). Several agency problems do occur in this relationship due to which the performanceRead MoreFinancial Management And Corporate Social Responsibility1216 Words   |  5 Pagesdays as well as the significant growth of organization, there are such key concerns on not only the issue of financial management or corporate social responsibility, but also the importance of ethics and governance, in which how an organization manages its business acting in the best interests of public and stakeholders. Indeed, there has been several of the failure of governance, fraud or bankrupt of large scale organizations in recent decades namely Arthur Anderson Enron, Australian Wheat Board

According To “Why We Read The University, The Humanities,

According to â€Å"Why We Read: The University, the Humanities, and the Province of Literature, Richter illustrates why literature should be studied in the first place. David Richter is an English professor who was very dedicated to his job. In this article, he had five section: English Literature as an Object of Study, The Era of Grand Theory and Cultural Wars, Reading Liberation; Teaching as a Propaganda, The Function of English at the Present Time and After the Culture Wars: The Problem of Disciplinary. The founder of English Adam Smith was not English at all but a Scottish polymath who taught English lectures in 1748 and 1751. The author goes on to explain all the knowledge about how literature became so important. He used those reference†¦show more content†¦According to â€Å"The Demise of Disciplinary Authority† by Louis Menand academic literary studies is more important than one may think. Menand claims that there is two background categories condition for th e academic. The first one is â€Å"that knowledge accumulates brick by brick.† The second is the discipline of literary studies. The author goes on to say that the literacy studies have existed since 1960. There was a time in society when literature was not known as its own genre. The author wants the readers to learn and understand that literature is itself genre. Literature studies can be understood as an independent discipline. An author named Levine argues in this article that the future does lie in interdisciplinary work. There was a research done that showed that academic literacy studies became disconnected from the institutional structure it inhabited. The American university was covering up and enjoying a pergola of rapid expansion. The challenge of literacy studies was that it could have simply been put in the existing system. There were authors who will write about literature and their work would be looked as if it had an influence on science. Derrida and Kuhn’s were a big influence on English professor because they open one mind that literature does not have essence and that literary criticism is not science. The author also believes that people outside the profession are not interested in literature andShow MoreRelatedWhat Are Ten Ways We Can Build Support For The Humanities?975 Words   |  4 PagesAccording to the American Academy of Arts and Sciences, what are ten ways we can build support for the humanities? When looking at your television, computer, or any source of information you can also see what celebrities or people that have foundations for people in need. Humanitarians do so much for the world that sometimes they do not get the recognition on what they do. In the article it states ten different ways that people can do to support others in humanitarian work. Early childhood educationRead MoreWhy I Am A Liberal Arts Education1123 Words   |  5 Pagesstudents to grow individually and academically. Before I read the summer reading packet, I did not know this. By reading the packet, I understand what it means to be liberally educated at Loras College. The freedom and growth that I will experience through the liberal arts at Loras will allow me to become better-rounded as an individual. Because of this, I will have learned how to be a critical thinker and learner, see the whole picture of why I am learning what I am learning, and connect and use whatRead MoreThe Religion Of Jesus Chr ist Is True God And True Man1735 Words   |  7 Pagesthrough the Council of Chalcedon. The issues in understandings and misgivings about the nature of Jesus as both God and man that lead to the requirement of the also play a large role in the hypostatic union. Furthermore, evidence of Jesus’ complete humanity and divinity can be seen in many biblical references but specifically to Jesus conception and birth. The Council of Chalcedon occurred in the year 451 A.D. â€Å"Council of Chalcedon, the fourth ecumenical council of the Christian Church, held in ChalcedonRead MoreLetters from a Skeptic1660 Words   |  7 Pagesinvites his father to partake in several correspondences about Christianity. Dr. Gregory Boyd is a theology professor at Bethel College. He currently lives in St. Paul, Minnesota with his wife and three children. He completed his Bachelors from the University of Minnesota, attended Yale Divinity School, and completed his Ph.D. from Princeton Theological Seminary. Besides being a professor, Greg is also pastor at Woodland Hills Church in St. Paul, Minnesota. He is also an author of three books and severalRead MoreThe Importance Of Writing1449 Words   |  6 PagesTyler Skaggs Prof. George Eng. 1301 10 Sept. 2017 Writing Why do people write? Some may think that it is relaxing. Others may do it to inform or entertain people. There can be many reasons to write. Writing is a tool used to keep history, pass down knowledge, or even entertain people. On the other hand, some may not like writing because it is too boring or they are forced to do it. Writing can be interpreted in many ways. Why do some people enjoy writing? Aristotles definition of happiness isRead MoreEssay on Nietzsche1296 Words   |  6 Pagesanswer them separately. I will be answering them without order. First of all, from my interpretation of Nietzsche, modern humanity did not invent the idea of God. Rather the God had a functional role from his point of view. There is no doubt that, modern humanity had the idea of God, but in my opinion, this idea was like a heritage to the modern humanity from their ancestors. We should look at the earlier times of the history in order to understand the roots of the invention of God. At this pointRead MoreIs Google Making Us Stupid?1338 Words   |  6 Pagesonce filled with intricate plots, deep narrative, and creative thinking, is now replaced . . . wait . . . what were we talking about? Let me Google the answer really quick. Oh, too bad; the article is so long, I don’t want to read it all. I’ll just skim the text and hopefully we can piece something together. This scene can be played out in virtually anyone’s life nowadays. But, why? Why can one’s attention span be so short? Is this dangerous? Summary Nicholas Carr, Harvard alumni and member of EncyclopediaRead MoreThe Meaning of Life According to Socrates, Epicurus, and Me1794 Words   |  7 PagesThe Meaning of Life According to Socrates, Epicurus, and I The Meaning of Life According to Socrates, Epicurus, and I The two philosophers I chose to examine for the purposes of this paper/exercise are Socrates and Epicurus. As stated, these men were exclusively philosophers, while they were also writers and theorists. I chose Socrates because he is a fundamental fixture in Western philosophy. He is respected and read by scholars and professionals all around the world for centuries. Socrates isRead MoreThe Study Of Human Social Relationships And Institutions873 Words   |  4 PagesAmerican Sociological Association Sociology; there are only so many ways to define this term and one of them according to The University of North Carolina, is â€Å"the study of human social relationships and institutions.† A sociologist’s on the other hand is someone who works as a professor, researcher, or consultant on sociological issues. For all the sociologists in the world, what they are simply trying to do in the most basic sense is understand society. There are hundreds of people who dedicateRead MoreThe Value Of Liberal Education1457 Words   |  6 PagesValue of Liberal Education in Today’s Society There are many different things that we value. Someone Ã'€refers business as it sees its success, someone is trying to succeed in Ã'€olitics. Each Ã'€erson looks at things differently. But there is a grouÃ'€ that can not be severely criticized and is considered as a very imÃ'€ortant Ã'€art of our lives - it is education. Liberal education is one of the basic values of modern society and it Ã'€lays a very imÃ'€ortant role in our lives. Liberal education

Business School s Code Of Ethical Behavior - 1395 Words

Barilla Case Ian Gregory 29 January 2017 In accordance with the business school’s Code of Ethical Behavior, I attest that I have not engaged in any acts of plagiarism in completing the assignments. – Ian Gregory Case Issues Barilla was one of the most successful brands of Italian pasta during the time period enumerated in the case. Despite their success, there were a variety of issues that plagued the company. Such issues included fluctuating demand that created a bullwhip effect throughout the supply chain, putting excessive pressure on the corporation. Some of the problems with variable demand may have been related to issues with the sales and promotional methods that the company was undertaking. Trade promotion†¦show more content†¦Failure to do so was inhibiting the implementation of the JITD system and thus allowing problems faced by the company to fester. Supply Chain Issues The foremost of the issues being faced by the company seemed to be related to their supply chain. Forecasting demand, as earlier mentioned, was difficult due to variably. As it stood at the onset of the case neither Barilla nor their distributors had the technology or sophistication in their supply chains to accurately measure the fluctuating demand. Additionally, there were no order limits for distributers, which in conjuncture with the poor forecasting abilities of the company, created strain on the manufacturing process. The use of trade promotion further served to create unsteady demand. To add to these problems most of the distributors seemed to batch their orders; choosing to order on a weekly basis rather than in real time. This method for ordering was at odds with the supermarkets from which the distributors ordered. It is stated in the case that the supermarkets placed daily orders to the distributers biased on items sold during business hours. All of th ese factors decreased the logistical effectiveness of the company. Neither Barilla nor their distributors desired to take on excess inventory to buffer for the demand fluctuation. Doing so would have been expensive and in some casesShow MoreRelatedWhy Business Ethics Must Be Presented, Preserved And Promoted Essay954 Words   |  4 PagesBusiness Ethics Must Be Presented, Preserved and Promoted By Glenn Ebersole | Submitted On January 23, 2007 Recommend Article Article Comments Print Article Share this article on Facebook Share this article on Twitter Share this article on Google+ Share this article on Linkedin Share this article on StumbleUpon Share this article on Delicious Share this article on Digg Share this article on Reddit Share this article on Pinterest Expert Author Glenn Ebersole Business ethics are an almost dailyRead MoreEssay on What is Cheating and Why Cheating is Bad?1219 Words   |  5 Pagesacademic dishonesty in general and what role if any, the structure and teaching of courses – as a part of business management curriculum in particular – plays, in curbing that dishonesty. Cheating can be defined as any act of academic dishonesty and is encountered in various forms. There has been extensive research [Whitley, 1998] to analyze fraudulent exercises- especially in undergraduate school setting. 72% students report to have taken part in at least one form of fraudulent exercise. Such activitiesRead MoreThe Rise of Enron Essay examples1632 Words   |  7 Pagesof this decade ethical scandals erupted though corporate America. Corporate Leaders from major companies such as Enron were caught up in scandal’s ranging from fraud, conspiracy, grand larceny to obstruction of justice† (Cross, 2011, p. 76). At the time, the Enron scandal was considered to be one of the most notorious and compelling business ethics cases in modern generations. It’s was a textbook version of what can go wrong in an organization that lacks a true culture of ethical standards. 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That role became what is now knownRead MoreEthical Issues Regarding Information Technology1638 Words   |  7 PagesEthical issues regarding the use of information technology are changing rapidly in our advancing modern societ y. Historically information technology had seen limited applications and impacts on society in general. More recently, however, this has been changing as information technology has become a part of nearly every business, and personal activity. I will discuss how Information technology has brought about significant societal ethical changes. Users of technology in society and business todayRead MoreBusiness Ethics And The Ethical Issues1461 Words   |  6 PagesBusiness ethics and the ethical issues in marketing Moral principles that guide the way a business behaves are known as business ethics. However this term has a broader definition. 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Sexual education programmes within school based learning...

Sexual education programmes within school based learning have long been cause for controversy, particularly in reference to which approach should be taken, what topics should be raised and at what age children should be begin to learn about sexual development and sexuality. Previously, sex education has focused on the biological development of humans however in recent years programs have shifted towards integration of sexuality and sexual health promotion in response to sexual development within children and the changing values of society. Sex education curriculum has often been the subject of debate as curriculum has varied between states and schools within Australia, where syllabus documents allowed schools to adopt the contents to meet†¦show more content†¦These discourses focused on preventing pregnancy, sexually transmitted diseases and HIV/AIDS to legitimise sexual activity, where information was purely factual and scientific understandings of body development and larg ely explained sexuality in terms of reproduction. While this approach educated students about methods of safe sexual practices to reduce and prevent physical consequences it still failed to address the psychological factors and influences of sexual relationships ( ). As the beliefs, values and norms of Australia began to shift, a more comprehensive sexuality education program was developed in 1988 which focused on Human Relationship Education as well as the biological factors previously addressed in sex education (Goldman, 2010). Sexuality education was described in the 1999 Health and Physical Education curriculum for New Zealand, as a lifelong process acquiring information and forming values, beliefs and attitudes about identity, relationship and intimacy (Sinkinson, 2009). It includes the biological, psychosocial and socio-cultural dimensions of sexual health and incorporates personal rights and responsibilities, relationship negotiations and skills to communicate effectively (Sinkinson, 2009; ). By engaging in aShow MoreRelatedChild Labour9367 Words   |  38 Pagesonly a few NGOs have succeeded in achieving recognition in this field at the national level. This paper starts by reviewing a number of inter-linked background factors that circ umscribe and curtail the activities of NGOs. This is followed by an analysis of the strategies that NGOs use in addressing child labour. The final section addresses the question whether NGO interventions add up to a strategy for eliminating child labour. 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Cupcake Shop Free Essays

string(31) " up Ucake bakery successfully\." International University Vietnam Bachelor of Commerce Program ASSIGNMENT COVER PAGE Your assessment will not be accepted unless all fields below are completed Subject Code:| BUSM4092| Subject Name: | Applied Entrepreneurship| Location where you study:| RMIT Vietnam – SGS| Title of Assignment:| Feasibility Analysis| Student name:| Kim Koan DongPham Anh HoaNguyen Phu HaiPham Phuong Nghi| Student Number:| s3324450s3298342s3255278S3269894| Learning Facilitator in charge:| Ms. Agatha Heng| Assignment due date:| 07/09/2012| Date of Submission: | 07/09/2012| Late Submission Approval| | Number of pages including this one: (Please number your pages like this: page 1 of 7, page 2 of 7, etc)| 27| Word Count:(Main Content)| 5,558| EXECUTIVE SUMMARY Having noticed the business opportunity in food, especially in dessert in the Vietnam market, Ucake’s business idea is developed. The purpose of presenting this idea is to help customers embodying their precious message into cake, the requisite item in every celebration. We will write a custom essay sample on Cupcake Shop or any similar topic only for you Order Now This can be regarded our business idea as the current market has not provide it. Investigation revealed that choosing young people 15 to 30 living in Ho Chi Minh City as potential targets in terms of increase in population, GDP and positive behavioral change towards cake. Moreover, market research found that there are competitors with strong brand name and reputation. However Ucake can survive among the opponents with service differentiation focus strategy in which Ucake’s core differentiated service is ‘customer’s self decorated cake’. Ucake provides plain base cake, hygiene environment with fresh and diverse topping, and then customers simply come to shop and decorate their cakes easily and fast with meaningful memory supported by professional advice by Ucake’s chefs. Otherwise, customers can choose cake design from hundreds of models that suit their event. Among the analysis, first five years’ financial statements, showing estimated establishment cost, revenue and expense, are included to verify that Ucake is able to break-even within 3 years. TABLE OF CONTENTS EXECUTIVE SUMMARY2 I. The Business Idea4 1. Opportunity description:4 . Product / service description:4 3. Description of the entrepreneur team:5 II. The Industry and Market6 1. Current Industry Analysis6 2. Market potential Analysis7 3. Competitors Analysis (referred to Appendix 3)8 4. Target market/customers9 5. Market penetration (referred to Appendix 5)10 6. Stakeholder Analysis11 III. Business Model Analysis (referred to Appendix 6)13 1. Revenue sources13 2. Cost drivers13 3. Resource requirements / mapping13 4. Investment size14 5. Critical success factors15 6. Risk analysis and management16 IV. Future Action Plan17 1. Sources of start – up capital17 . Further information needed17 3. Support needed18 REFERENCES19 APPENDICES21 I. The Business Idea 1. Opportunity description: Currently, Vietnamese people are accustomed to Western culture, so they consider cakes not only as desserts or presents for birthday, but also indispensable items in special events such as Christmas or anniversary party. This trend leads to the rapid growth in demands of cakes, especially in holiday period like Christmas (Bao Moi Newspaper, 2009). Not stopping there, people also want to make their cake becomes more momentous to suit the purpose of parties or events. However, there are still no bakeries allowing customers to decorate cakes by themselves. As entrepreneurs, this is a good occasion for Ucake to develop a business idea to create more values and options for customers through its differentiated services. 2. Product / service description: Ucake bakery that has differentiated services will be opened to make customer feel convenient and comfortable, bring more benefit, and satisfy their needs. Two main services will be developed. Firstly, dissimilar cake designs will be updated for customer to choose, and then Ucake’s bakers will make cakes exactly based on design’s offer. Moreover, customers also can prefer their own design for Ucake to implement. Although the design of cakes is sometimes not favored some customers, they still have to buy it as they have fewer choices. This problem can be solved when customers come to Ucake’s store where they have various choices and they can even ask Ucake to make the cake based on their own suggestion. Here at Ucake bakery, it sells not only cakes designed by its’ store, but also cakes customers want to have. Another service is self – decoration, which there are spaces provided for customers, and all necessary equipments are to support them decorating cakes on their own. When using this service type, customers will pay for a plain base cake, toppings, and cream to design the cake; and what is more, they are allowed to try the taste of the cream, toppings before purchasing. To help client’s better understanding of the services, Ucake’s bakers are there and willing to give advice for cake decorates. The cakes can become so consequential for the receiver if people decorate it by themselves. For example, parents will be very surprised and happy if their children decorate a cake as a gift for their wedding anniversary. However, most of Vietnamese people do not have enough necessary equipments or places to decorate a cake. This issue has been recognized, and Ucake wants to generate services that give its buyers chances not only to garnish this kind of desserts but to enjoy the fun and relaxation as well when they come to Ucake. 3. Description of the entrepreneur team: A group four undergraduate students who are taking bachelor degrees in RMIT University are recently having their family businesses run profitably in the Vietnam industry. Having followed different majors with background s of serving business, marketing, design, and especially in the hospitality streams, the team has ambition of launching a bakery locally which is called Ucake. On that account, the team seeks for potential opportunities with creative production to help solving customers’ problem, giving them more benefits, and also generating profits remarkably for their business. In addition, each member has developed a wide spread of professional relationship that would sustain their project in positive aspect and scale through their family’s network and friends. By employing some of members’ real working experiences from their family business and other service firms, the team is expecting use their conditions and supports to start up Ucake bakery successfully. You read "Cupcake Shop" in category "Papers" II. The Industry and Market 1. Current Industry Analysis To improve Ucake’s strategies and support the awareness towards different features affecting its business, Porter’s five forces model is applied for analyzing risks that helps Ucake to control in higher progress in the Vietnam industry. According to Rice (2010), this model contains five typical aspects. 1. 1. Bargaining power of suppliers – Low Within the bakery industry, raw materials are vital factors that contribute to the success of a business leading to high value of products and prestige. Usually, prices of materials like flour, sugar, milk†¦ are depended on the level of quality customers want to aim at. In Vietnam, sources of suppliers for those ingredients are relatively diverse that can be derived from local grocery stores or larger suppliers. Hence, Ucake will have more options choosing dealer that are appropriate for its budget and demand. 1. 2. Bargaining power of buyers – High Nowadays, the Vietnamese people are influenced by Western cultures and tend to go to cake shops as their hobbies, especially on holidays and other events. With many bakeries throughout the country, customers are advantageous to experience excellence and different prices of various bakery shops. Besides, many youths are also interested in making cakes by themselves; as a result, clients have more knowledge of selecting the right cakes which are suitable for their commandment. 1. 3. Threat of new entrants – High Since the regulations and procedures of starting up a bakery in Vietnam are not so complex (Vatgia. om, 2011), which even people with small capitals can also invest on this kind of business, barriers to enter the industry here are not high. Therefore, as a new comer, Ucake faces the threat of self – decoration service imitation from other components, including existing and approaching cake shops. 1. 4. Threat of substitutes – High The level of threat of sub stitutes that Ucake faces is pretty high as there are many different types of food and dessert services developing in Vietnam (VietnamBriefing, 2008), such as ice – cream, yogurt, fast food, Vietnamese sweet soup, etc. Thus, clients have various options of switching to other food once their demand of consuming cakes decreases. 1. 5. Rivalry among existing firms – High At the moment, only in Ho Chi Minh City, there are over 100 bakery stores located widely, and the competition of bakeries are getting more and more intense as many large and small local bakery stores exist in the market (Phan Le, 2012). Furthermore, the local bakeries also have to compete under pressures of investments from some famous foreign bakeries, which might affect customers’ perceptions and operations of local bakeries as well as Ucake. . Market potential Analysis Regarding this area, PEST model is used to examine the environmental part for executive strategies. 2. 6. Political Due to To Loan (2008), food hygiene and safety are some of the biggest issues in Vietnam, and this issue is much cared by the government. Research Center of Business Administration claims that HACCP is the highest international license req uired by the Vietnamese for a firm which wants to operate in food industry. So, Ucake must have HACCP  (Hazard Analysis and Critical Control Points) to meet the Food Safety Law. 2. 7. Economic Ucake will have to take moderate rental costs, so the store’s location does not have to be positioned in the center of Ho Chi Minh City. Due to Diaoconline. com (2012), the cost for a two – floored shop in district 5 is approximately 1,000USD. Cost of facility and equipment for a new venture are paid highly in the first year in terms of the good quality facilities and equipment in order to make customer feel comfortable. However, since they are fixed costs, the venture does not need to pay anymore in next few years, and maintenance costs will be paid less instead. According to VietnamBranding (2008), Vietnamese people refer Western fast food than Vietnamese. 2. 8. Social Dan Tri Newspaper (2012) states that Vietnamese people care and obverse more Western tradition and events (Christmas, mother’s day, Halloween†¦) and considers that cakes are commonly used in many parties and special events. This leads to high demand of cake, and especially during Christmas. Besides, in this century, people do not only want a delicious cake but increasingly care more about nutrition and health issue (Viet Bao Newspaper, 2005). So, if Ucake has HACCP for ensuring the safety of the cakes and researching some of new healthy ingredients, more and more customers will be more attracted. 2. 9. Technology As a small business, high technology is not really fundamental for Ucake. However, Ucake need to have fresh, safe and high quality ingredients. Hence, safe and clean process of making and decorating cakes are highly presented, also the bakery can cooperate with its supplier to do research and development to adjust the amount of sugar and please customers, especially that are fastidious. . Competitors Analysis (referred to Appendix 3) 3. 10. Direct competitors Regarding the direct competitive environment, generally, most of Ucake’s components are other bakeries in Vietnam, which are large local bakeries, small ‘cakes and cafe’ shops, and foreign bakeries. Some of Ucake’s particular competitors consist of Vietnamese ones like Brodard, Givral and Jous Les Jours bakery from overseas. Firstl y, Brodard and Givral bakeries are two of most long time businesses in the Vietnam bakery industry that selling cakes and other breads. Overall, both of them supply cake orders from clients like Ucake; conversely, as their service regards to only takeaway cakes, they do not have self – decorated cake services for buyers. For Tous Les Jours which is a popular chained bakery from Korea that mainly offers clients fresh breads, cakes and other desserts, the chain presently has more than 8 stores allocated in Ho Chi Minh City. Similar to Ucake, Tous Les Jours accommodates consumers with cafe spaces, and also makes cakes through customers’ idea suggestion. Nonetheless, the Korean chain does not have self – decoration cakes and hardly to change to this kind of service while their concept is consistent, and because of their large number of branches. 3. 11. Indirect competitors In this field, as Vietnam’s integration has been widely opened, different investors of foodservice gradually find opportunities in the Vietnam market. As a consequence, Ucake’s indirect competitors are both domestic and foreign foodservice businesses surrounded by the nation. Among those components, Baskin Robbins (ice –cream chains), Yogen Fruz (Yogurt chains) and Lotteria (fast – food chains) are selected to weight against Ucake’s potential. In general, all of those 3 businesses are serving consumption services apart from Ucake, and their statuses are reasonably strong compared to Ucake as a new comer. In addition, none of them contains mutually two kinds of services that Ucake has. For this reason, even though Ucake is totally new and less popular, its operation is not affected much by indirect challengers in terms of this new differentiated variety of service. . Target market/customers (referred to Appendix 4) 4. 12. Geographic According to World Bank (2012), the GDP per capita has been increased significantly since the year of 2000. Among the provinces, Ho Chi Minh City’s population claimed the highest with almost 6,000 people in 2010. Moreover, people’s average income in the northern area is also high, which especi ally in Ho Chi Minh City’s was estimated the greatest with approximately 3,000 USD per year (Hoa Le, 2012) determining higher consumption compared to other regions. Hence, Ho Chi Minh is an ideal location for Ucake to plan for starting up the investment and seek to achieve good profits. 4. 13. Demographic Ucake’s targeted customers are aimed at the ages from 15 to 29 who are mainly teenagers and youths going to work as there are numerous young ages of under 30 that reach more than 50% of the Vietnam population (Nielsen, 2010). 4. 14. Behavioral Those groups of audience above are targeted not only because of their excess in the country population. Typically, a majority of them tends to adapt new updates of trend due to the international integration prospect and influence from other countries’ cultures. Thus, that is one of the reasons why many young Vietnamese people have interests in Western fast food and desserts by the appearance of investments regarding these kinds of food in the Vietnam market. Viet Bao Newspaper (2005) states the progressive encouragement of the Vietnamese of considering hygienic products as their vital priority for consumption in recent decades. For those points, Ucake finds it quite potential with great opportunities to set goals for achieving success through this targeted market. 4. Market penetration (referred to Appendix 5) Since the cake market is already at the maturity stage of the product life cycle, in order to enter the industry; Differentiation Focus Strategy is applied to Ucake. QuickMBA (n. d) says that Differentiation Focus Strategy can help the firm to narrow down to a specific group of customers, and give consumers the best and different services compared to its competitors resulting in retaining customer loyalty. However, there are some limitations with this tactic that Ucake’s service can be imitated or its targeted segment changes consumer needs. Guerilla marketing: Ucake has to do marketing activities strongly in the first year as it is a new and small firm in the market, and guerilla marketing is an ideal tool for new business which has limited marketing budget like Ucake. Some experts (Levinson, Levinson, amp; Levinson 2007) indicate that guerilla marketing is an easy and inexpensive marketing method for small business. Guerilla marketing strategy focuses on low cost, unconventional marketing tactics, and puts more time and effort to achieve maximum result. One week before the opening of the shop, some of refrigerated cabinets made by glass can be placed on public places such as parks or supermarkets. Then Ucake’s big designed cakes are displayed inside to catch people’s attention and trigger their curiosity. The slogan â€Å"Your Cake† will be put on cabinets to introduce Ucake’s business idea to clients. * Additionally, few days before the launching day, the banner of announcing the decoration contest will be also situated near refrigerated cabinets to invite people to participate. The contest will be held during the opening day. Customers can join and buy their cakes with half prices Advertising: advertisements of Ucake’s establishment day will be posted on magazines for youths and teenagers such as Tiep Thi va Gia Dinh and Hoa Hoc Tro. A Facebook page of Ucake will be created as well in order to expand the brand community. Facebook is an ideal place for us to reach large number of potential customers. Ucake’s products and other activities will be informed which are easy for consumers to view wherever they are. This social media tool can draw customers’ interests and Ucake can receive advantages from this marketing effect. 5. Stakeholder Analysis Beside the owners, people that influence the performance and success of Ucake’s business can consist of the customers, supplier and employees. Those important stakeholders are categorized and emphasized in 4 particular aspects in the table below. Stakeholder| Role| Level of effect| Expectation| Supposed risks| Investors| Devoting for the establishment of the business| Moderate| Making decisions in right investing and capitalizing for beneficial profits of the company| Lack of financial sources or bankruptcy would threaten the operation of the business| Customers| Consuming goods and service of the bakery| High| More usage of roducts and services from customers helping the business to gain status and revenue to compete with others| Bad comments from customers affecting the reputation of the business whether quality of goods or services do not satisfy them| Supplier| Supplying raw materials to the client bakery (i. e. flour, sugar, butter, milk, etc. | Moderate| Providing requir ed quality and quantity of materials not only to enhance relationship with customers but also help generating profitable products for customers | Bad quality of raw materials supplied or late delivery time will cause unqualified products or delay in the plan of the business| Employees| Supporting and controlling the operation of the bakery| High| Adding efficient value to the business by applying their trained skills to the service and attending to customers in order to improve the bakery’s performance| Low capability, misbehavior to customers leading to decrease in turnover of the business| III. Business Model Analysis (referred to Appendix 6) 1. Revenue sources The revenue is mainly generated from two items which are customer’s ordered cake and self decorated cakes. Customer’s ordered cake is produced based on the design that customers choose from Ucake’s menu. Therefore, the price of each cake is the revenue varying due to the size and design from 300,000VND to 400,000VND. Customer’s self decorated cake is made through this process, in which Ucake provides a plain base cake and customers decorate the cake by adding toppings and creams according to their preference. The fixed revenue will be sale price of the base cake (150,000VND), and additional revenue is earned by the amount of toppings they supplement which costs 15,000VND per package of one kind of topping. Minimum of 100,000VND of toppings is expected to be just enough for decorating a whole cake nicely. Furthermore, revenue from self – decorated cakes is anticipated to be greater than from ordered cakes. Research result shows that there are no competitors providing this service at the present time. Other revenue is earned by the sale of soft drinks sold for customers in the shop, and one can of the drink costs 15,000VND. As the price is relatively cheaper, it will not be considered as crucial revenue to ensure maintenance of business. 2. Cost drivers Number of consumers or sales of cakes will increase the raw material expense. Ucake only sells cakes, and the expense to satisfy customers’ demand will have the greatest impact on cost structures. Ingredients to bake plain base cake, such as eggs, sugar, butter, milk, salt, flour and cream, must be kept fresh so JIT (Just In Time) strategy will be utilized to decrease inventory costs. Being located nearby Ucake, the supplier (referred to ‘Resources requirements’ part) will conduct prompt delivery at lower costs in daily basis. 3. Resource requirements / mapping In order to offer satisfactory services to customers, raw materials and human resources are decisive in our business. The raw materials mentioned in ‘Cost drivers’ part above will be purchased from Tan Nhat Huong, the only local firm supplying cream, operating in Tan Binh district, Ho Chi Minh City. The quality is as high as other foreign companies’ products. As Ucake and the supplier’s locations are geographically close to each other, Ucake can decrease significant logistic costs. Ucake needs four people to run this business. One professional chef will bake the plain base cake and ordered cake. Two more amateur chefs will work as supportive assistants to help the main chef and to advise customers decorating cake. One person will be hired as receptionist. For this job, as there is no complex calculation involved, a person with no background of accounting can also be recruited. People will be hired from the online labor market (timviecnhanh. com), and Ucake will upload specific requirements of employees and interview the favorite candidates. 4. Investment size The first financial investment must be at least 100,000USD in order to start and operate Ucake for first year. Below is the cost analysis for the first five years after opening Ucake. * Fixed cost Ucake will be opened on Nguyen Trai Street, District 5 by renting a two – floored shop . The rental fee will be 1,000USD per month which will be totally cost 12,000USD for the first year of contract. Also, other costs to operate the business like electricity, water are calculated to be 167USD per month (2,000USD / first year). * Variable cost As the cakes are baked after receiving orders from customers, ingredients are considered as variable costs. All costs related to baking process such as electricity, labor, ingredients are regarded as 100,000VND per cake. Assuming that Ucake produces 3,720 cakes per year, including two types of products based on the revenue analysis, the variable cost will be 20,000USD per year. * Semi variable cost Semi variable costs comprise two expenses: wage and marketing. The wage is for the four employees. The wage amounts for main chef, supportive chefs and receptionist are 200USD, 150USD and 100USD, respectively. In the initial year, monthly wage will be 600USD which adds up to 7,200USD of wage expense for the first year. Ucake will conduct marketing vigorously in the first year to present the differentiated services and gain customers’ awareness. The annual cost is estimated to be 5,000USD. * Non recurring cost Equipments like baking ovens, furniture, and shop renovation costs will be spent before launching Ucake shop. All the equipment costs are calculated approximately 50,000USD. Sum of the first year’s costs are 96,000USD. However, in case of not covering expenses by the revenue, 4,000USD is needed as a back-up fund when Ucake meets unexpected costs. Hence, the first investment cost should be 100,000USD to cover the whole first year and half of second year’s expense. The first investment fund of 100,000USD will be recovered at the end of third quarter in year 2. Even though the price of cake is cheaper than other consumer products like electronic devices or automobiles, huge profit margin of cake will allow the business to step up from survival to growth level. 5. Critical success factors During the investment process, there are two main critical success factors of sustaining Ucake’s operations. First of all, one of the most vital elements for a bakery to accomplish is the role of the head baker. A head baker needs to have long time experience in baking and decorating cakes. Yet, this is still not enough. Cakes are quite attractive to many people, but customers have begun fussier about this kind of desserts over time due to changes of their perceptions about nutrition and safety of goods (Viet Bao Newspaper, 2005); thus, the head baker has to update consumer’s behaviors and apply ethods that are adequate with their demands. For instance, he can use fresh cream instead of butter cream to reduce the fat of the cake’s topping cream for making buyers more secure as regards their health. In addition, he is in charge of planning and estimating the number of sellable cakes per day to verify profits for the bakery also encourages products sold within 24 h ours upon baking and avoids surplus of stock. Another critical success factor of Ucake is the quality of customer services. As a bakery providing self – decorated cakes, in order to serve the customer’s needs, it is significant to hire a group of staffs that meet the working standard for this new type of service. Basically, the staffs need to have limited knowledge about cake’s basis and skills of decorating cakes for instruction whether their buyers cannot garnish themselves or need assistants. Besides, they are to support customers in providing them options of cake toppings shapes for their self – decorated cakes, directing them to park vehicles, and make the shop atmosphere hygienic and convenient for them. With those points, Ucake can expect to match the criterions of services and keep its customers satisfied. 6. Risk analysis and management Among the risks, some distinguishing points strongly affect Ucake’s enlargement that need to be aware and administrated in terms of its business conception. The first threat that Ucake might face is that the idea of customer self – decoration services can be imitated by others which is estimated with high chance. As being appeared at the maturity stage, products of Ucake are common in the industry, except that its services are developed to a different standard and have never been applied by other competitors. Nevertheless, although self – decoration is new and unique compared to others, this concept does not require so many sophisticated progressions to implement the services; in consequence, other bakeries, including existing and potential ones, can easily reproduce Ucake or create similar serving styles even if Ucake tries to protect its company via Intellectual Property Rights registration. Copying service is an unavoidable problem to Ucake; still, Ucake would be the pioneer in applying self – decorated cakes for clients in the market, so it is an extremely cautious period for Ucake to deliberate its growth as well as gaining customer loyalty by performing satisfactory products and services once it is first publicized. Additionally, the moderate possibility of employees’ misbehaviors to customers throughout their serving mission might occur. During the business, employees have high responsibilities in making clients feel worthy with what they pay for the services and want to return to Ucake again. On the other hand, employees are sometimes negative effects of discouraging customers of using services due to their slow serving or bad attitudes, and this would be very dangerous for the bakery because customers have diverse options of bakeries to prefer. As a consequence, Ucake needs to spend a period of time training the employees carefully with some particular rules of the bakery before the store’s launch to look forward to attaining effective services satisfying its consumers. What is more, employees should be praised with rewards or other incentives whether they do their job well in order to increase their productivity in addition to Ucake’s efficient services. IV. Future Action Plan 1. Sources of start – up capital Ucake is a relatively small size in aspects of budget, establishment cost and labor wage. The business model analysis shows that Ucake requires at least 100,000USD as set up cost. There are three possible financial sources to raise the fund. * Angel investment: Ucake will open a business plan presentation to potential angel investors to persuade them that it is a feasible business. Angel investors will receive corresponding amount of return related to their investment size. * Loan from bank: Banks allow the Vietnamese to receive loan if credibility is guaranteed. Ucake will summit five years of financial budget and business plan to convince that Ucake is a trustable business. 50,000USD is the amount Ucake plans to receive from the bank as a loan. * Financial supports from acquaintance: four owners of the business are running their own family business and being successful. Ucake can be financially supported by their families. . Further information needed Ucake lacks legal knowledge about food market. As a result, the future operation of the bakery must be checked and advised by a law firm called TopicLaw. TopicLaw will support by providing standard of food and necessary licenses for Ucake to run the bakery such as sanitation of bakery, safety of equipments. Also, as Ucake’s business idea is very easy to be copied, it should contact with consulting firm to protect the Intellectual Property Rights. The consultation will be about patent registration. The Target market analysis shows that the targeted market is quite potential. However, Ucake must implement further surveys before opening to identify what kind of toppings and decoration style that the target market prefers. It is vital to run regular survey on customers’ feedback and preference after setting up Ucake in order to maintain competitive advantages in such dynamic food market. 3. Support needed Due to the fact that parents of the four Ucake’s owners are successfully running family business overcoming economic crisis, they can be consultants of Ucake. External environments cannot be consistent as Ucake assume. Therefore, their parents may recommend direction of future operation and performance of Ucake. Excluding law firm and consulting firm which was mentioned in ‘further information needed’ section above, Ucake is looking forward to surviving and growing in the target market without further outside supports. 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VietnamBranding 2008, ‘Fast food Viet – bao gio? ’, VietnamBranding, 25 June, viewed 20 April 2012, ;lt;http://www. vietnambranding. com/thong-tin/phong-su- thuong-hieu/4610/Fast-food-Viet—bao-giogt; World Bank 2012, ‘Vietnam GPD per capita’, TradingEconomics, viewed 12th August 2012, http://www. radingeconomics. com/vietnam/gdp-per-capita APPENDICES Appendix 1: Service Prototypes 1. Cakes baked and cream frosted by Ucake’s chefs. 2. Ucake provides options of toppings for customers. 3. Customers choose favorite toppings and pay at the counter. 4. Cakes and toppings are brought at customers’ tables. 5. Customers decorate cakes on their own or with the assistance of Ucake’s staffs. Appendix 2: Ucake staffs’ job description Staff| Function| Head chef| The person who has long time knowledge and experience of working in the bakery industry. Typically, he holds good recipes of cakes and manages every baking step to ensure the cakes look stunning and tasty. | Supportive chefs| These chefs can be amateur and to assist the head chef in doing the baking process and help instructing customers towards self – decoration services. They also direct customers in decorating cakes whether customers suggest. | Receptionist| Has a responsibility of managing the quantity of toppings, charging bills of customers and reporting the revenue daily to owners. | Appendix 3: Direct and Indirect competitors analysis 3. 1. Direct competitors How to cite Cupcake Shop, Papers

Parkinsons Disease Essay Example For Students

Parkinsons Disease Essay Diseases are sometimes extremely devastating and cruel. Some diseases move veryrapidly while others are slow and painful. Treatments are sometimes useful yetother times nothing can stop the silent beasts that lurk in the body. Parkinsons disease is a slow moving disease that slowly corrupts the brain. Parkinsons disease (PD) is a chronic motor disorder that causes tremors,rigidity, slowed body movements, unstable posture and abnormal gait. Thishappens when neurons, nerve cells, in a part or the brain called the substantialnigra gradually die. These cells normally produce dopamine, a chemical thathelps relay messages between areas of the brain that control body movement. Thedeath of the cells leads to abnormal low levels of dopamine, and causesdifficulty in controlling muscle tension and muscle movement both at rest andduring periods of activity. PD as of now affects about 500,000 Americans, withabout 50,000 new cases diagnosed each year. It is generally a disease thataffects people of late or middle age at about age 60 however about 5 percent ofpatients have early-onset PD and are younger than 40 years old when symptomsbegin. PD is slightly more common in men then women. So far scientists have notdetermined the reason why some people develop PD and others do not. Some expertsblame a process called oxidation. During oxidation unstable molecules that areproduced in the brain as a result of its normal chemical reactions whichultimately damage the brain. Another theory suggests that the effects of toxicaffects of drugs may cause PD. Additional evidence suggests that PD may berelated to environmental toxins especially because some claim that they havefound rates of PD that are higher in rural areas where farming is intense andresidents drink well water. So far PD has not been linked to geneticabnormality. PD usually begins as a slight tremor of a hand arm or leg. Thetremors usually affect a limb at rest but it also may occur when it is in use.

Future of the Retail Store for Google and Wal- Mart- myassignmenthelp

Question: Discuss about theFuture of the Retail Store for Google and Wal- Mart. Answer: Introduction There are various innovations that retailers have adopted on large extent. Social as well as mobile innovations are significantly changing buyers' shopping propensities and desires, and this changing progress is noteworthy. As we know that today's economy is very much struggling, the online shopping has been raised to 15%, which is growing every year. This type of change enables online retailers as well as consumer, who appreciate these type of financial and strategic points over shopping center stores. Online shopping provides less prices and tax reduction that empower online dealers to offer infrequently essentially diminished costs on everything from attire to device. I will take the case of biggest Wal-Mart chain. (Wiefel, M., 2015). Example of Wal-Mart As we know that Google and Wal-Mart are the biggest names that have joined their forces in order to place Wal-Mart's online market place which is known as Google Express. (Marah, K., 2017). Walmart is getting into another era of retail by having its association with technology. The organization is developing its online retail business that has increased its administrations to 14 extra markets. The store has made its accessibility of online grocery upto 200 stores. Now this organization is building up its drone services, which is proposed to supplant the occupations of stock quality confirmation workers at huge dissemination centers. Walmart is keeping itself in front of changes by giving the best costs and extraordinary stock, while sparing clients time and making a quick, simple and pleasant shopping knowledge. Computerized perpetual shopping, robotized picking machines in retail stores to have online requests, pickup points in the parking areas, mechanical technology as well as ana lyzing image to scan for thing accessibility and rack introduction and machine learning and further developed calculations in valuing frameworks. (Ark, F., 2017). Better Decision Making Power The technical revolution is the main advantage in the field of retailing that is also advantageous to the stores management as well as retailers. Eg: the new technology influence consumers for taking better decisions, to concentrate on and valuable offers, and get fast services. It likewise influence retailers in coming to suitable consumers at minimum expenses. It helps Walmart to minimize the wait time i.e from 4 min to few sec. This can enable retailers to focus on perfect customers; it also empowers consumers to make better decisions about which items or the service to devour. These decisions are unconstrained, delivered rapidly by having online shopping. The consumer helps to provide retailer an amplitude of unique information, counting some value-based information like expenses, amount acquired, and shopping wicker container creation. At the same time, it also provides purchaser information like gender, age, family etc. Retailers can have powerful experiences from these type of data and it can help to have expectations for the buyer behavior, outline better offers, can concentrate on their clients, and can have some imaging options that influence shoppers to make buy decisions that support their items. Subsequently, large data can have valuable, patterned procedures of customer engagement that prompt improved the advantages. These type of advancements enable customers to make better judgment, with minimum time pressure, helps to boost the confidence with 100% satisfaction. Retailers thus require to have these new and developing advances to make their clients engaged by having very simple lives. (Grewal, D. Roggeveen, A., L., 2017). References Ark, F. (2017). Walmart CEO McMillon Outlines Vision for Future of Shopping at Annual Shareholders Meeting. [Online] Available at - https://news.walmart.com/2017/06/02/walmart-ceo-mcmillon-outlines-vision-for-future-of-shopping-at-annual-shareholders-meeting (Retrieved on 22nd Sept 2017) Grewal, D. Roggeveen, A., L. (2017). The Future of Retailing. Journal of Retailing 93 (1, 2017) 16. [Online] Available at - https://ac.els-cdn.com/S0022435916300872/1-s2.0-S0022435916300872-main.pdf?_tid=e5576cac-a002-11e7-bf93-00000aab0f27acdnat=1506132177_abb9931bb798f58ac5a010b7a9361405 (Retrieved on 22nd Sept 2017) Marah, K. (2017). Google/Walmart: The Brutal Future Of Retail Supply Chains. [Online] Available at - https://www.forbes.com/sites/kevinomarah/2017/08/24/googlewalmart-the-brutal-future-of-retail-supply-chains/#202798de1921 (Retrieved on 22nd Sept 2017) Wiefel, M. (2015). Digitalization: The impact on traditional retail and the future model of multichannel. International Journal of Scientific and Research Publications, Volume 5, Issue 3, March 2015. [Online] Available at - https://www.ijsrp.org/research-paper-0315/ijsrp-p3981.pdf. (Retrieved on 22nd Sept 2017)