Alcoholic Beverage Essay Example for Free

Alcoholic Beverage Essay Alcoholism is a chronic problem that includes difficulty in controlling drinking, having to drink consistently to get physical independence, being preoccupied with alcohol, and continually using alcohol regardless of problems it causes (Brick, 2004). Alcohol should not be legal in U. S. because it is impacts negatively on health, family, community and on a person’s education. Alcohol drinking is like taking a drug. It is a form of drug addiction and drug abuse. Alcoholism is a worldwide problem that affects many people. Drinking alcohol has negative short and long term effects. Alcoholism has been associated with adverse effects on health, family, community, and education (Marshall, 2000). However, the effects on a person depends on particular factors such as how often and how much alcohol is taken, a person’s age, gender, when a person begun drinking and how long they have been drinking, their health, and family history (Begleiter amp; Kissin, 1996). It is in this regard that alcohol should not be legal in the United States. Alcohol is addictive, and people become addicts end up spending a lot of money on alcohol. It means that when they spend all the money they have on alcohol, they forget their families, and are not able to support the community in anyway. Some resort to stealing to sustain their drinking habit. Alcohol addicts sometimes engage in robbery acts to get the money for drinks. Community becomes at risk of destruction with excessive alcohol consumption allowed. When many people engage in excessive consumption of alcohol, education becomes at risk. People drop out of school, and illiteracy level increase in the community. In addition, the progress and development of any community depends on the health of its people. Therefore, when alcohol puts the health of its members at risk, community suffers in the long run. Alcohol affects both female and male differently. Men who consume alcohol, daily have an increased risk of health risks. Such men can experience cancer and heart disease in the long-term and low energy to sexual difficulties in the short-term (Brick, 2004). Men are more likely to suffer from liver cirrhosis, and have higher chances of being diagnosed with high blood pressure. Nearly 26. 6% of deaths among men of between 16 and 24 years old can be attributed to alcohol consumption. Men tend to be more dependent of alcohol (Marshall, 2000). Drinking too much alcohol damages a person’s body organs such as liver, brain, stomach, heart,and intestines. Brain is adversely affected because the brain cells die leading to loss of memory, learning difficulties, brain disorders, confusion, and problems with attention (Blane amp; Leonard, 1999). Liver is highly affected because of the great possibility of developing cancer in the liver, throat and mouth. The stomach may also acquire ulcers. Long-term drinking has also been linked to stroke and heart failure. The nervous system can also experience damage leading to behavioral and physical problems (Dasgupta, 2011). These problems affect health, family, community, and education in the long-term because of expenses associated with alcohol consumption, and possible treatment measures. Alcohol poses many effects on the body such as fertility. It reduces levels of testosterone. As a result, it could decline sperm quantity and quality, and lead to loss of libido. Alcohol is toxic to the testicles, and affects hormones. It could hamper production of sperms, hinder them from developing properly, and slow their movement towards the egg. Alcohol can also limit the liver from metabolizing vitamin A properly. It also depresses the nervous system, and could result in difficulty in getting and keeping erection (Peters, 2008). Many young adults do not realize that alcohol has a fattening effect. Alcohol can reduce the amount of fat that the body burns for energy. The human body makes several attempts to eliminate alcohol 1 / 3 very fast as it cannot remain in the body for storage. The process takes priority over nutrient absorption and burning of fat. In the long-term, there could be a serious damage in the appearance. Other effects include loss of hair in the body, breast enlargement, and withering of testicles (Dasgupta, 2011). Alcohol has also been associated with worsening of skin disorders such as rosacae. Rosacae skin disorder is responsible for expansion of blood vessels in the face making it redder. Heavy drinking can cause the appearance of pus spots and red bumps. It has also been linked to inflammation, pain and swelling in the joints. The effect is common among men of between 30 and 60 years old (Hannigan, Spear, Spear amp; Goodlett, 1999). As mentioned earlier, heavy drinking increases the chances of heart disease, liver damage, bone disease, cancer, anxiety and depression, and type II diabetes. Heavy consumption of alcohol also caused inflammation on the pancreas and irritates stomach. These effects indirectly affect family, community and education (Peters, 2008). Women are not safe from alcohol either. The body of women takes much time to process alcohol compared to men. Women feel more effects of alcohol than men even when they drink the same amount. The fertility of women is at risk with heavy consumption of alcohol. Women are high risk of acquiring breast cancer, and adverse impacts of the menopause. Women are advised in several studies to avoid alcohol when trying to have a baby. Alcohol disrupts menstrual cycle in women, and limits their chances of conceiving. These are bad effects on the body, and not good for family and community in general. Therefore, alcohol should not be legal in the United States (Hannigan, Spear, Spear amp; Goodlett, 1999). While drinking less alcohol may make one look good, heavy consumption causes bad skin, tired eyes, and weight gain for both female and male. It also interferes with people’s sleep. Heavy consumers of alcohol often wake up and feel like they have not had enough rest. Alcohol dehydrates the body and skin. It deprives the skin of certain vital nutrients and vitamins. Hence, it is not good for health. Alcohol is also responsible for much divorce among couples due to fights in the family, and lack of finances for family upkeep (Dasgupta, 2011). Alcohol is depressant. It means that alcohol calms people down, and slows down some body organs. With only 0. 05% level of blood-alcohol, a person begins getting dulled judgment, and his or her inhibitions get released. They then become clumsy and start having slurred speech with only a 0. 10% blood-alcohol level. At 0. 30% level of blood-alcohol, one nearly becomes unconscious. Any addition after that becomes extremely dangerous since at 0. 45%, one can get into a coma. Brain shuts down from 0. 70% and stop controlling the heart, breathing, and one may end up dead. Other short-term effects include blurred vision, blackouts and insomnia. These can lead to injuries, accidents, and even death. Drinking alcohol also causes hangover in the next morning, which is associated with nausea, headaches, heartburn, fatigue, thirst, and dizziness. There are many side effects of alcohol (Peters, 2008). Conclusion In conclusion, consumption of alcohol should be reconsidered in U. S because of its adverse effects on health, family, community, and education. Alcohol should only be taken when necessary. The side effects are adverse and continue to destroy people across the world. Therefore, alcohol should not be legal in the United States because it is impacts negatively on health, family, community and on a person’s education. References Begleiter, H. , amp; Kissin, B. (1996). The pharmacology of alcohol and alcohol dependence. New York: Oxford University Press. Blane, H. T. , amp; Leonard, K. E. (1999). Psychological theories of drinking and alcoholism. New York [u. a. : Guilford Press. Brick, J. (2004). Handbook of the medical consequences of alcohol and drug abuse. New York: Haworth Press. Dasgupta, A. (2011).

Patient Outcomes for Fibromyalgia Treatments

Patient Outcomes for Fibromyalgia Treatments Busch et al. (2011) describes fibromyalgia as chronic condition that exhibits symptoms that include widespread pain, non-recuperative sleep and fatigue. Fibromyalgia can affect anyone of any age but is most prevalent in women aged 50 or older (Traska, Rutledge, Mouttapa, Weiss, Aquino, 2010). Currently, the etiology of fibromyalgia is not understood. Fibromyalgia also has no specific diagnostic tests or cures (Becker, Stuifbergen, Taxis, Beal, Pierini, 2009). Diagnosis is established with guidelines set by the American College of Rheumatology (Gore, Sadosky, Zlateva, Clauw, 2009). Gore, et al. (2009) states that the guidelines stress the incidence of pain and tenderness at least 11 of the 18 defined tender points. Treatment for fibromyalgia, according to Zhao, Sun, Watson, Mitchell, and Swindle (2011), is palliative measures that include pharmacological treatment, behavioral modifications, physical and exercise therapy, and alternative medicines. This literature review is an examination of both pharmacologic and non-pharmacologic treatments for fibromyalgia and the effectiveness of the treatments. The following text will review and analyze several pieces of literature that provide information and statistics regarding the different methods of controlling the symptoms of fibromyalgia. The conclusion of this review will present suggestions and recommendations for enhancing and expanding the current body of research. Literature Review Pharmacologic Treatment Pharmacologic treatment for fibromyalgia includes many classes of medications. Medications include analgesics, antidepressants, anticonvulsants, opioids, and dopamine agonists (Zhao, Sun, Watson, Mitchell, Swindle, 2011). The pathophysiology of fibromyalgia is not well understood, but is believed to be the result of an increase in pain signal transmission of the central nervous system (Gore, et al. 2009). Gore, et al. (2009) focused attention on the medications gabapentin and pregabalin. A commercial database was used to study identifying traits among patients newly prescribed gabapentin and pregabalin that included clinical characteristics, healthcare resource use, and pharmacologic therapy (Gore, et al. 2009). Statistics were limited to those with at least one healthcare encounter during 2006 and 2007 with a diagnosis of fibromyalgia and naive to both gabapentin and pregabalin. The sample was majority female (85%) and greater than 70% over the age of 45 (Gore, et al. 2009). Results indicated that pregabalin users in the cohort study saw statistically significant reduction (p values A systematic literature review of 14 studies revealed a decrease in healthcare access among Latinos in the US as compared to Caucasian Americans (Timmins, 2002). Fifty-five percent of these studies indicated significant negative effects to healthcare access for Latino individuals with LEP (Timmins, 2002). Cancer screenings, mental health evaluations, and reproductive care among Latino populations were substantially lower (Timmins, 2002). The reason for this decline was primarily linked to poor health education and promotion as a result of linguistic barriers (Timmins, 2002). Communication barriers also hindered therapeutic rapport that potentially contributed to decreased access to care (Timmins, 2002). Shi, Lebrun, and Tsai (2009) conducted descriptive and comparative research on a national health survey that involved 29,868 participants. The purpose of this research was to determine the influence of LEP on healthcare access (Shi et al., 2009). Analysis showed that respondents with LEP were more inclined to waive needed medical care and less inclined to have healthcare visits (Shi et al., 2009). In particular, unadjusted analysis showed 58% of respondents with LEP and adjusted analysis revealed 34% of those respondents were more likely to have reduced healthcare visits (Shi et al., 2009). This study revealed multivariable impacts upon healthcare access; however, strategic analysis allowed for variable isolation in order to fully assess the effect of language barriers alone upon healthcare access. In a descriptive study, DuBard and Gizlice (2008) examined responses from 45,076 Hispanics in a randomized national health survey. The study indicated that healthcare access was substantially limited for Hispanics with LEP than Hispanics with English proficiency. The results showed 55% of Hispanics with LEP had no health insurance; whereas, 23% of Hispanics who spoke English were uninsured (DuBard Gizlice, 2008). An additional comparison revealed that 58% of Hispanics with LEP had not obtained a primary doctor, while 29% of English-speaking Hispanics were under primary physician care (DuBard Gizlice, 2008). Hispanics with LEP were also less likely to have annual health visits and preventative services, such as immunization, dental, and screening care (DuBard Gizlice, 2008). These results have implied a prominent influence of language barriers upon access to healthcare. Multivariate analysis disclosed limitations to healthcare access for all Hispanics, but a substantial decrease in access to health services was observed for Hispanics with LEP (DuBard Gizlice, 2008). Safety and Quality of Care In his systematic review, Timmins (2002) reported that 86% of studies indicated a definite negative effect of linguistic barriers upon the quality of care for Hispanics with LEP. In comparison to Hispanics that were proficient in English, one study revealed Hispanics with LEP were significantly (P Masland, Kang, and Ma (2011) conducted a study that assessed medication prescription comprehension in the following five ethnic minority groups: (a) Mexican, (b) Central American, (c) Chinese, (d) Korean, and (e) Vietnamese. Limited English proficiency inhibited communication and understanding of prescriptions in all ethnicities except Vietnamese (Masland et al., 2011). In particular, limited English proficiency in the Mexican, Central American, and Korean groups tripled the chance of misinterpretation and quadrupled the chance for the Chinese group (Masland et al., 2011). Poor communication and unavailability of prescription labels in native languages were associative reasons that inhibited prescription understanding and ultimately compromised client safety (Masland et al., 2011). However, most all ethnicities greatly benefitted from having language concordant physicians (Masland et al., 2011). As a result of physician/patient communication barriers, patients with LEP had an increased probability of undergoing more diagnostic testing (Pares-Avila et al., 2011). Studies reported physicians unnecessarily ordering an array of tests to determine or rule out health problems (Pares-Avila et al., 2011). This action not only potentially contributed to poor patient satisfaction but also promoted delays in care services (Pares-Avila et al., 2011). Health Status and Management According to DuBard and Gizlice (2008), 39% of Hispanics with LEP reported fair or poor health status; whereas, 17% of Hispanics who were English proficient conveyed fair or poor health condition. Timmins (2002) added that negative health status and outcomes could be attributed to language barriers. Misdiagnosing and prescription errors were found in one study to have contributed to negative health outcomes, yet limited English proficiency was not clearly isolated as a specific cause (Timmins 2002). Another study alluded to a casual association between language barriers and negative health outcomes, which potentially promoted declines in health status (Timmins, 2002). Wisnivesky et al. (2009) conducted a cohort study to analyze asthma control and quality of life. Upon comparing English proficiency levels, Wisnivesky et al. (2009) discovered major language barrier impacts. Latinos with LEP had statistically significant (P Fernandez et al. (2010) examined data from the 2005-2006 Diabetes Study of Northern California, a well-designed cohort of insured clients, to determine diabetes management of Hispanic individuals with LEP. Although this study’s multivariate analysis examined other variables that could have contributed to ineffective glycemic control, limited English proficiency was identified as the primary â€Å"independent predictor† (Fernandez et al., 2010, p. 170) of poor glycemic management among US Hispanics. Analysis further revealed statistically significant improvement (P Future Research and Practice Recommendations Literature has confirmed the existence of multivariable elements that compound, exacerbate, and/or lead to healthcare disparities among minority populations. Ongoing research is needed to explore all potential variables, to analyze the impact each variable has upon healthcare, and to discover best methods to improve healthcare for minority groups. A substantial amount of literature has corroborated language barriers as a major source contributing to negative healthcare management; therefore, this appraiser has considered this evidence indicative of poor professional practice that insufficiently bridges language barrier divisions and compromises patient healthcare. Nurses should be proactive in employing interpreter services and finding best practice measures to effectively communicate with patients. Pares-Avila et al. (2011) reported that patients with LEP are often not informed of their legal rights to have interpreters; hence, nurses must be client advocates and inform patients of this entitlement. Furthermore, quality improvement measures and future research should be implemented to continually evaluate interpreter service use and effectiveness. In the US, rapid expansion in language diversity has not mirrored the available diversity among healthcare workers (Pares-Avila et al., 2011). Literature has reflected improvements in healthcare directly related to having language concordant physicians, yet accessibility of language concordant providers has not adequately complemented the increasing number of patients with linguistic diversities. This literature review lacked studies that addressed or assessed the impact of nurse language concordance. However, this appraiser values language agreement between nurse and patient, perceiving it a powerful measure to ensure affective communication and promote health. More research is needed to analyze the effect of language unity between nurses and clients. With a growing diverse nation and competitive work arena, nurses should envision secondary language acquisition as the â€Å"edge† toward professional success and patient satisfaction. References Becker, H., Stuifbergen, A., Taxis, C., Beal, C. C., Pierini, D. M. (2009). The use of goal attainment scaling to facilitate and assess individualized change in a wellness intervention for women with fibromyalgia syndrome.Journal of Holistic Nursing,27, 232-240. doi: 10.1111/j.1365-2702.2010.03501 Busch, A. J., Webber, S. C., Brachaniec, M., Bidonde, J., Bello-Haas, V. D., Danyliw, A. D., . . . Schacter, C.L. (2011).Exercise therapy for fibromyalgia.Current Pain Headache Reports, 15, 358-367. Gore, M., Sadosky, A. B., Zlateva, G., Clauw, D. J. (2009).Clinical Characteristics, Pharmacotherapy and Healthcare Resource Use among Patients with Fibromyalgia Newly Prescribed Gabapentin or Pregabalin.Pain Practice,9, 363-374. doi: 10.1111/j.1533-2500.2009.00292 Traska, T. K., Rutledge, D. N., Mouttapa, M., Weiss, J., Aquino, J. (2010). Strategies used for managing symptoms by women with fibromyalgia.Journal of Clinical Nursing,21, 626-635. doi: 10.1177/0898010109339525 Zhao, Y., Sun, P., Watson, P., Mitchell, B., Swindle, R.(2010). Comparison of medication adherence and healthcare costs between duloxetine and pregabalin initiators among patients with fibromyalgia.Pain Practice,11, 204-216.

Strategic Analysis Of John Lewis Partnership Limited Marketing Essay

Strategic Analysis Of John Lewis Partnership Limited Marketing Essay The following report will provide a detailed analysis of John Lewis Partnership. The retailer has been very successful in the UK and has performed extremely well in spite of more negative financial issues and other dynamics impacting upon the retail sector at large, predominantly in light of declining consumer income, technological advances such as the internet and increased competition. The reason the company was able to achieve these was because of their commitment towards their clients in providing innovative solutions as well as improved awareness of customer needs and the significance of creating a reliable customer base which ensures positive word-of-mouth and the company has achieved this due to its commitment to providing innovative solutions to clients as well as a heightened awareness of customer needs and further recommendations to increase new revenue streams through an appropriate CRM system in place. Therefore, the reports provides an evaluation of the companys current marketing environment assessing how the external factors impact the retail sector largely and specifically on the strategies that John Lewis chooses to adopt. The report will also evaluate the strengths and weaknesses as well as the threats and opportunities that the company is presented with and how best it can achieve a match with its own internal capabilities to the dynamics at play. The report will also look at how the John Lewis brand and customer proposition is placed in the UK market in comparison to other competitors, with an attempt to provide understanding in to how the company gains advantage through differentiation from other competitors, essentially highlighting how the company implements a differentiated strategy which allows it to maintain advantage. At the same time, the analysis has drawn attention to how the uncertainty which prevails and the continuous rate of change in the external market highlights the implications of continuous observation and continuous re-evaluation of the strategic options applied. Ultimately, the aim is to provide recommendations as to how the company can increase the probability of its advantage over the longer term. The John Lewis Partnerships 81,000 Partners own the leading UK retail businesses John Lewis and Waitrose. Our founders vision of a successful business powered by its people and its principles defines our unique company today. The profits and benefits created by our success are shared by all our Partners (John Lewis, 2012). Write the report as if you were working for an external management consultancy firm, reporting to the Board of Directors of your chosen company. The report should contain sections that address ALL of the main aspects of the module syllabus: that is the report should cover both strategic analysis (internal and external) and strategy formulation. It is essential that in undertaking your research and writing your report you make appropriate use of the strategic management tools and models to conduct internal and external strategic analysis and strategy formulation that you have encountered in this module. Credit will be given for analysis, evaluation and synthesis, and the appropriate selection and use of strategic management tools and models. 2.0 Introduction This report will discuss the strategic management tools demonstrating skills of analysis evaluation and synthesis of John Lewis. The report includes strategic analysis and an External Environmental analysis. The report also covers the strategy formulation in which the SWOT analysis and BCG Matrix will be discussed. John Lewis Partnership plc is one of the UKs top ten retail businesses. They operate amongst 2 sectors known as John Lewis and Waitrose. The company offers food as well as household products i.e. baked foods, fresh fruit veg, wines, household items, furniture, electronic items etc. The company functions in a chain of 287 Waitrose supermarkets, 39 John Lewis shops that include 30 departmental stores and 8 of them at home John Lewis stores. The company operates throughout the UK and is headquartered in London, they sell their products through retail stores, catalogues, and websites. The companys strategic focus is to accomplish its non-core business strategies through partnership with other firms. There are around 81,000 employees working in John Lewis stores who are partners in the business, they have a share in the companys profits and are given the opportunity to participate in the companys progress and growth. This is their unique source of competitive advantage as it encourages staff loyalty through being business partners (John Lewis 2012) 3.0 Strategic analysis 3.1 Mission statement The mission of an organisation highlights the broad directions they need to follow and provides a brief summary of the values and reasons that lie behind it (Lynch 2012). Like other organisations John Lewis also have a mission statement, it highlights their reputation established through their ownership structure as it is unique and they are very successful in being a profitable business. John Lewis aim to keep their staff satisfied so that their business can be a success. Their strategy is based on three key elements partners, customers and profit. (Refer to appendix 1) to see their full mission statement. 4.0 External Environmental analysis 4.1 PESTEL Analysis The PESTEL analysis examines the macro-environment in which the business exists in. It is a helpful tool for understanding market growth or decline as well as the position, potential and the direction for business. It is also used for evaluating the Political, Economic, Social Technological, Environmental and Legal factors that a business operates in. The Political factors discuss government regulations such as employment laws, environmental regulations, tax policy and political stability. The Economic factors affect the cost of capital and purchasing power of an organisation. These factors also include economic growth, interest rates and inflation. The Social factors impact customers needs, potential market size such as John Lewiss goods and services, population growth and age demographics. Technological factors of John Lewis will discuss barriers to entry, making or buying decisions, investment and innovation and the technological change. Environmental factors include weather, clim ate and climate change. Climate change affects how John Lewis operates and the products they offer. Lastly Legal Factors include discrimination law, employment law and health and safety law. These factors can affect the way John Lewis operate their costs and the demand for their products. 4.2 Macro- environmental Factors It is commonly known, that those prevailing in the external environment of any firm shall have a significant influence in terms of decision making in the strategic options. Such analysis is known as PESTEL analysis and usually suggested as the first stage in the strategic planning process (Lynch, 2006). As Johnson et al (2008, pg.56) rightly declared, The key drivers for change are environmental factors that are likely to have a high impact on the success or failure of strategy. (Refer to appendix 2) to see the PESTEL analysis for John Lewis. It can be concluded that each factor of the PESTEL has had an effect on John Lewiss actions, some of them are now stated in their mission statement. Previous factors are used to analyse different factors, furthermore, these factors can give a prediction for the future, so can be quiet effective if they are applied correctly. There are also some restrictions in this model, e.g. when the procedure of the checklist is applied to John Lewis it may be tough. The emergent corporate strategies may well comment that the future is so uncertain that prediction is useless (Lynch 2012 page 84), however, some may still give words of caution but still predict the future. The PESTEL analysis isnt the only framework that John Lewis take into consideration, their organisation has many other internal and external factors that also have an effect on the strategy formulation, this is why Porters five Forces framework is applied. The PESTEL analysis has a lot of information but yet doesnt offer a detailed analysis of the business. Porters Five Forces (1985) observes factors that have an impact on competition in the organisation. 4.3 Strategic Options The external analysis undertaken has underlined how the focus and the landscape of the UK retail sector has changed dramatically over the last decade or so. Such developments clearly present both threats, primarily from new entrants and modes of distribution, as well as opportunities such as the increasing utilisation of technology within the current offering to customers. As Johnson et al (2008, pg.3) highlights, strategy is about exploiting the strategic capability of an organisation, in terms of its resources and competences, to provide competitive advantage and/or yield new opportunities. However, many competitors in the retail sector at large have managed to expand into other range of products as well as expanding internationally, John Lewis seems to have adopted a more thoughtful approach and stayed loyal to its customers as well as confident in terms of its offering to the market. At the same time it has also developed a wide range of products as a lower price range to attract more customers across a wider range of segments in society. In times of economic uncertainty this also appears to be a sensible strategy in terms of situations where its loyal customer base may be experiencing declines in disposable income, thus enabling John Lewis to maintain their business through customers trading down to less expensive ranges in store. The recent introduction for its Essential Waitrose Range in 2009 was both a reaction to external events including activities of competitors but was viewed as an effective strategy highlighting the companys attention to external research as well as its innovative approach to dealing with such negative events. Furthermore, Porter put forward the idea that there were three generic strategies; cost leadership strategy, differentiation strategy and the focus strategy, which companies follow. It is clear that John Lewis has embraced a combination of these, but essentially, differentiation has remained key to its business model which positions more favourably when compared to other competitors, particularly given the range and extent of the goods and services it provides as well as its highly effective branding and promotional events which appeal directly to customers and incite purchase. Its decision to introduce its Essentials range within its Waitrose stores may have been considered by some as an indication it was lowering its standards, but on the contrary, despite offering a cheaper alternative, quality remained key which ultimately implied that its position in the market would not be negotiated. 4.4 Porters Five Forces Porters Five Forces framework highlights that the environment John Lewis is competing in is constantly changing, (refer to appendix 5). In this model it is believed that customers dont have more importance than any other aspect, however Aker, Baker and Harvey Jones argue that customers are more important than any other aspect of strategy development (Lynch 2012). Porters Five Forces of competition (1985) is a common tool often applied within the strategic management process to firms across several sectors. It is similar to the PESTLE analysis as it takes a predominantly external perspective of the firm within its given industry looking at how it is positioned against other competitors in the same sector. Recently many have criticised the ensuring importance of the framework given the changes that have risen, particularly with regard to the diversification of business which has ultimately created blurring across many previously distinct sectors. This is emphasized by the supermarkets entering into the clothing and electronics sector for example, as well as retailers including John Lewis expanding into financial services through insurance and credit facilities to customers. Barney (1995) and Henry (2008) underlined how Porters model is more helpful when it is applied at a strategic business unit level rather than at higher levels of industry analysis such as the sector at large as it cannot be expected that all competitors will be competing against one another. This tool is also believed to be useful in terms of assessing a companys strengths and weaknesses in light of how it stacks up against competition. As Barney (1995, pg.49) highlights, A complete understanding of sources of competitive advantage requires the analysis of a firms internal strengths and weaknesses as well. The importance of integrating internal with environmental analyses can be seen when evaluating the sources of competitive advantage of many firms. Looking at Porters five forces of competition, it is clear that John Lewis has attempted to not to just react to the external dynamics and actions of competitors, but actively be a step ahead. It has constantly adapted its business model, such as the introduction of store cards, its online offering and the Waitrose Essentials range in order to provide its business with a more appropriate fit to the market in line with Mintzbergs (1994) theory. A major element of its strategy however, is its reputation, branding and subsequent positioning in the market and how consumers view the business in its entirety. It has remained rather committed to its original proposition and further enhanced its appeal through appropriate branding and its reputation for quality and enhanced service to customers. 5.0 Internal Resource analysis 5.1 Value analysis chain StratISTh3 Source: Porter, Competitive Advantage, 1985 The term Value Chain was used by Michael Porter (1985), the purpose of the value chain is to analyse the activities that are performed by the business, linking them to the competitive position. It also evaluates the particular activities to see which add value to the businesses products or services (quickmba 1999-2010) While many critics and leading authorities dispute the validity of Porters earlier theories, many of his ideas do still appear useful from the perspective of strategic analysis, particularly the notion of the value chain. Ultimately, it is within the value chain which John Lewis has created that it has succeeded in terms of sustaining advantage in its market sector. It has created efficiencies and synergies through the interrelationships within (Mintzberg and Ghoshal, 2003). Value Chain Analysis which is often compared to the RBV of the firm as it looks to both internal and external dynamics impacting an organisation. In recent years importance has also been given to joint ventures, collaborations and relationships which add value to the companys positioning. Elements of the chain such as HR which were previously considered as supporting elements are now viewed as core and this is demonstrated by John Lewis in terms of its commitment to and investment in staff. By enhancing the quality of its internal resources it can achieve distinctive competencies which are difficult to emulate by other competitors (Teece et al, 1997; Terwiesch and Ulrich, 2009). As Porter (1985, pg.36) emphasises, the way it performs individual activities are a reflection of its history, its strategy, its approach to implementing its strategy, and the underlying economics of the activities themselves. 6.0 Strategy formulation 6.1 SWOT Analysis: John Lewis Partnership A SWOT analysis is a useful tool for understanding and decision-making, businesses such as John Lewis use this tool in all sorts of situations, a SWOT summarizes the Strengths, Weaknesses, Opportunities and Threats. This framework covers a crucial part of the strategic planning process a scan of the internal and external environment. Strength, Weaknesses are considered to be internal to the business whereas, Opportunities and Threats are part of the external environment. Looking at the SWOT analysis (refer to appendix 6) it can be concluded that John Lewis take this tool into consideration when making business decisions based on their customers. However, John Lewis need to expand their target audience because at the moment they are only targeting an older audience need to improve the diagnostic power of a SWOT analysis is to define the elements from a customer perspective rather than the organizational point of view. (Baker 2007, pg.267). By doing this they will generate a higher profit margin. If john Lewis wants to stay ahead of their competition they need focus on their weaknesses such as they need to ensure their prices are similar to their competitors. Also John Lewis need to focus on threats the business may have to face but they can avoid such matters by acting upon the threat before it occurs. Although the SWOT analysis tool is useful to businesses when making decisions, it has been criticized due to its simplicity and possible misleading approach to strategic analysis. This is because companies have failed to follow a few simple procedures. The SWOT analysis is a focused methodology (Baker 2007), therefore, when John Lewis the using this tool they need to ensure they are able to follow correct procedures of this tool to ensure they are able to achieve success. 6.2 BCG Growth-share Matrix The Boston Consulting Group (BCG) growth-share matrix was developed by Bruce Henderson, founder of BCG, in the late 1960s (Baker 2007, pg.125). The BCG Matrix is a simple tool used to assess a companys position in terms of its product range. It simplifies how a companys thinks about the products and services and makes decisions about which it should keep and let go and which products to invest in further. It provides a useful way of seeing the opportunities that are open to the company and also helps to consider how the company can maximise the profits in the future. Below is the BCG Matrix for John Lewis, highlighting where in the market the different departments of John Lewis are positioned. John Lewis was voted Britains best retailer in 2009 and have won awards House Beautiful Awards 2008: Online Home Retailer of the Year Gold Award (washerhelp 2012), making them leaders in departments such as House and Garden, Electrical Appliances, Fashion, Gifts and Toys. They now have a high growth and a high market share in this segment, thus putting them in the star category. Further, technology and baby departments are between the star and question mark category this could be due to high growth and market share or high growth and low market share as they are faced with high demands but have low returns. Moving on to the sport department as it is in the cash cow category, as a markets it isnt growing but yet the market share for the products is high. Looking at the final category it can be said that John Lewis are safe as there isnt any products in the dog category. The BCG Growth-Share Matrix 7.0 conclusion Overall, the company has responded admirably to the changing dynamics impacting upon its market and customers, it is also clear that going forward, more challenges and threats shall be presented to it, particularly given persistent uncertainty relating to the global economy as consumer confidence within the UK. It would appear that in addition to a thorough and consistent approach to its markets in relation to external analysis of those factors deemed to impact most significantly; the company also adopts an internal approach, evaluating its inherent resources and competencies within the business. In line with the resource based view of the firm (Barney, 1991) and subsequent research by other authors such as Grant (2005), this analysis is often viewed as a more appropriate approach to the task of strategic management as ultimately, organisations have much more control over their internal resources than external market variables. Such an approach enables companies to incite the innovat ion process and thus create change in the wider environment as well as improvements to its value chain. This appears to be exactly what John Lewis has done to date through its expansion into other areas, as well as extending its range to customers through on-line facilities as well as credit, insurance etc. References Arnold, G. (2012). Corporate financial management. 3d. ed.Essex: Prentice Hall. Baker M (2007). Marketing strategy and management. 4th ed. Basingstoke: Palgrave Macmillan. Barney, J. and Hesterly, W.S., 2008. Strategic Management and Competitive Advantage: Concepts and Cases: International Edition. London: Prentice Hall. Barney, J.B., 1991. Firm Resources and Sustained Competitive Advantage. Journal of Management; 17, (1) Chloe. (2012). ANALYSIS Waitrose and John Lewis move closer together, offline as well as online. Available: http://internetretailing.net/2012/11/analysis-waitrose-and-john-lewis-move-closer-together-offline-as-well-as-online/. Last accessed 20th Nov 2012. Davey, J and Laurance, B (2008). John Lewis under fire: how the City turned against Rose. The Sunday Times. 16 March 2008, p.12-13 The Economist (2012). A Rose by any other name. A retailing star ticks off investors at an awkward time. 13 March 2012, p58-60 The Economist (2012). The world in figures: industries. The world in 2012. p124, 126 Gartner. (2011). Gartner Identifies the Top 10 Strategic Technologies for 2011. Available: http://www.gartner.com/it/page.jsp?id=1454221. Last accessed 25th Nov 2012. Grant, R.M., 2005. Contemporary Strategy Analysis. London: Wiley-Blackwell Henry, A., 2008. Understanding Strategic Management. Oxford: Oxford University Press. Johnson, G, Scholes, K and Whittington, R, 2008. Exploring Corporate Strategy. London: Prentice Hall. Keynote, 2008. Clothing Manufacturing, Keynote. Keynote, 2009. Clothing Retailing. Keynote Levitt, T, 1983. The Globalization of Markets. Harvard Business Review, May-June. Lewis J. (2012). John Lewis Partnership. Available: http://www.johnlewispartnership.co.uk/about.html. Last accessed 18th Nov 2012. Lynch R (2006). Corporate strategy . 4th ed. Harlow: Prentice Hall. Lynch, R (2012). Strategic Management .6th ed. Harlow: Pearson Mintzberg, H., Quinn, J., and Ghoshal, S, 2003. The Strategy Process. London: Prentice Hall Mintzberg, Henry, 1994. The Rise and Fall of Strategic Planning: Reconceiving the Roles for Planning, Plans, Planners. New York: Free Press Nugent, H and Hawkes, S (2012). George follows Jeremy Paxman as John Lewis faces another brief challenge. 20 March 2012. www.timesonline.co.uk (Accessed 24/11/2012) Ohmae, Kenichi, 1989. Managing in a Borderless World. Harvard Business Review, May-June. Porter, M., 1979. How Competitive Forces Shape Strategy. Harvard Business Review, March/April. Porter, M.E., 1980. Competitive Strategy. New York: The Free Press. Porter, M.E., 1985. Competitive Advantage: Creating and Sustaining Superior Performance. New York: Free Press. QuickMBA. (1999-2010). The Value Chain. Available: http://www.quickmba.com/strategy/value-chain/. Last accessed 20th Nov 2012. Reynolds, A., 2012. John Lewis Partnership on Target to Cut Emissions. Supply Management, 17 October, available at http://www.supplymanagement.com/news/2012/john-lewis-partnership-on-target-to-cut-emissions/, accessed 12/11/12 Teece,D.J., Pisano, G. And Shuen, A., 1997. Dynamic Capabilities and Strategic Management. Strategic Management Journal, Vol.18, No.7, pp.509-533. Terwiesch, C. and Ulrich, K., 2009. Innovation Tournaments: Creating and Selecting Exceptional Opportunities. Boston: Harvard Business Press. Washerhelp. (2012). John Lewis. Available: http://www.washerhelp.co.uk/Retailers/John-Lewis.html. Last accessed 20th Nov 2012. Appendix 1 John Lewis mission statement The John Lewis Partnerships reputation is founded on the uniqueness of our ownership structure and our commercial success. Our purpose is the happiness of all our members, through their worthwhile, satisfying employment in a successful business, with success measured on our ability to sustain and enhance our position both as an outstanding retailer and as a thriving example of employee ownership. With this in mind, our strategy is based on three interdependent objectives Partners, customers and profit. Appendix 2 PESTEL Analysis for John Lewis Political Factors John Lewis operates within the UK market and therefore changes in the policy related to the governance of UK business, as well as advanced policies in the context of the UK, have an impact on the business. The laws and codes of conduct relating to ethical business practices and CSR initiatives particularly impact John Lewis. Subsequently, there has been conscious effort on the role of the retailers to combine relevant Codes of Conduct concerning the supply chain as well as giving a guarantee to customers that have been sourced in an ethical manner. It is likely that changes such as this will continue to impact going ahead but at the same time as this, pricing will be raised as a concern for the retailers as margins will certainly be eroded as prices are put higher, epically where the products may be obtained from developing markets. Economic factors It is obvious that economic factors have a major effect on the strategy implemented by John Lewis; such factors have had a negative impact on the UK. However, when the government took the decision to decrease the VAT rate temporarily in 2008 due to financial crisis, this had a direct positive impact on the retail sector. The company faced major setbacks in relation to its revenue and performance in 2001. The company was successful in reversing its fortunes through a complete re-evaluation of its supply chain practices; they improved the company model so that it met the needs of customers. The company is still conscious that the confidence levels of customers are slightly unstable, this is highlighted in its current financial results, (refer to appendix 3). Such uncertainty has an obvious impact on which strategies companies can follow and directly influences which marketing strategy John Lewis decide to apply in relation to pricing, advertising and other variables of the mix. Increas ed global uncertainty also influences their operations which are mainly UK based. This is especially true regarding the price of raw materials that has been changed considerably over the past few months, with products such as cotton, coffee and oil being a great concern. Such fluctuations put pressures on retailers as well as customers whereby margins shall be reduced and costs passed on to consumers who may in fact seek cheaper alternatives as their own incomes may decline. A full appraisal of all elements of the supply and distribution chain is needed to ensure that efficiencies are being formed and improvements are made to the overall value chain (Porter, 1980; 1985). This may also clarify the companys latest challenges in integrating its business with Waitrose, John Lewis are becoming much more aligned over the past months (refer to appendix 4) Events overseas such as Spain and Greece could also have more implications for the sourcing policies the company accepts as well as its foreign currency payment methods etc. to suppliers given the weakening Euro currency. Social Factors Social factors for John Lewis are very important across the business as they are considered to have a direct effect on how successful the customer behaviour is and the preference towards the items or brands. While many have pointed out that overtime as consumers we have slowly become more similar across country borders (Ohmae, 1989; Levitt, 1983), latest indications actually highlight much divergence in consumer buying habits. Much of this might also be attributed to progress in internet trading whereby consumers have further choice as well as getting updated and having more knowledge about the alternatives available in the market. This has increased the competition which has therefore, put pressure on prices, mostly in the case of stores as there are much higher fixed costs involved. Another major progress relating to the retail sector in the UK has been the success of the supermarket chains in growing into non-food items with shares of the clothing market increasing every year from competitors such as Asda, Tesco, and Sainsburys. a report from Keynote in 2009 outlined how supermarkets share of the clothing market increased from around 10% in 2000 10 23% in 2008, and this expansion is likely to continue as the major multiples devote increasing amounts of floor space to non-food items such as clothes such growth has completely changed the retail space in the UK and certainly, many have attributed the demise of many High Street incumbents directly to the strategies pursued by supermarkets. At the same time, it is also clear that John Lewis has followed somewhat of a different method and thus located itself apart from these competitors and is seen being more exclusive, of higher quality as well as providing higher levels of service to customers. Technological Factors It is impossible to ignore the progress that occurred in technology over the decade or so. Such advances have completely changed and improved all features of the supply and distribution chain particular with regard to online shopping. Over the past few months John Lewis have become more of this and adapted its business model appropriately so that they are capable of understanding customer expectations, with regards to convince and availability. Another major development has been the increasing use of media and subsequent positive word-of-mouth recommendations. Such tools are viewed by companies as an important ingredient to their overall strategy, not just in terms of communicating with customers but also in gaining further knowledge through customer feedback which can assist them in gaining further knowledge through customer feedback which can assist them in engaging more with their customer base and addressing any potential problems or other threats. Technology is considered as pro viding more choice to customers but increasingly is being embraced within the overall customer management strategy and is likely that this will intensify going forward and further facilitated by new developments such as improvements in text analytics and the capture of real-time data (Gartner, 2011) Environmental Factors Making the right long term decision is one of John Lewiss founding principle, environmental sustainability is key to this approach. There are programmes, processes and targets in place to ensure that environmental commitments are delivered (John Lewis 2009) John Lewis recently revealed new plans where their key aim is to cast their CO2 emissions to 15% by 2020 (Reynolds, 2012) Legal Factors John Lewis is also impacted by changes to employment regulations as well as procedures guarding trading standards. Over the recent years many retail competitors such as Primark and Gap have been negatively criticised due to concerns on the unethical sourcing and manufacturing of products. Primark, a leading High-street label attracted unpleasant headlines in the media in response to claims they were using child labour, consequently affecting their position in the market. Other changes in the economic framework of overseas markets on which John Lewis depends on depend on

The Second World War (WWII) - News Article :: World War 2 II Two

The Bomb Was Dropped Today is the day after the mass destruction of Hiroshima. On Monday, August 6th the first atomic bomb to be used in war fare was dropped. The atomic bomb â€Å"Little Boy† as they called it was drooped at approximately 8:15am Japanese standard time. The B-29 Bomber â€Å"Enola Gay† was the one to have dropped the atomic bomb yesterday which caused mass destruction. When the bomb reached approximately 2,000 feet above the surface it was detonated. Reports say that â€Å"Little Boy† caused a massive wind that leveled houses up to 1.5 miles from the center of the explosion. â€Å"A bright light filled the plane," wrote Lt. Col. Paul Tibbets, the pilot of the Enola Gay, the B-29 that dropped the first atomic bomb. "We turned back to look at Hiroshima. The city was hidden by that awful cloud...boiling up, mushrooming." He was astonished at what they have done. Today the day after the drop of â€Å"Little Boy† it is unknown of the amount of deaths and it is believed to be in the tens of thousands. What will happen next? Will we see Japan surrender the war? In the up coming days we will see how this concludes. Today is the day after the mass destruction of Hiroshima. On Monday, August 6th the first atomic bomb to be used in war fare was dropped. The atomic bomb â€Å"Little Boy† as they called it was drooped at approximately 8:15am Japanese standard time. The B-29 Bomber â€Å"Enola Gay† was the one to have dropped the atomic bomb yesterday which caused mass destruction. When the bomb reached approximately 2,000 feet above the surface it was detonated. Reports say that â€Å"Little Boy† caused a massive wind that leveled houses up to 1.5 miles from the center of the explosion. â€Å"A bright light filled the plane," wrote Lt. Col. Paul Tibbets, the pilot of the Enola Gay, the B-29 that dropped the first atomic bomb.

Capitalism vs. Art :: Sociology Sociological Essays

Capitalism vs. Art Works Cited Missing When an unpopular Irish playwright for the British stage said that art imitates life, no one really cared. Farquhar, a failed-actor-turned writer/director didn't really begin writing his most famous works until he was close to death, but most of his quotable notions and wit were recorded early in his life. He said this particular phrase after he killed a friend of his, and fellow actor by stabbing him with a rapier on the stage after mistaking it for a blunt foil. The late 19th century applies to Farquar's school of thought because it marks the beginning of a three-stage approach to a comparison between capitalism and art. Frederic Jameson describes these stages as realism, modernism, and postmodernism . Each of these three stages is associated with the specific type of capitalism that was popular at that time: realism is associated with market capitalism, modernism with monopoly capitalism, and postmodernism with consumer capitalism. Cornel West, like Jameson, identifies further similarities between capitalist movements and artistic movements in the past century on two levels. On the broader spectrum, West says that civil crisis leads to social change , and that recent social crisis has been the undulating economy. On a narrower spectrum, he discusses the "existential challenge" to the New Politics of Difference, that is, "how does one acquire the resources to survive†¦ as a critic or artist?" (West 617). There is, perhaps, an alternate view that can be considered when approaching a comparison between capitalism and art. Since 1880, a strict equation between economic movement and social change could be formulated, but it does not necessarily hold true for the late 20th century and postmodernism. Postmodernism was affected by economic crisis, but because the United States has not faced economic crisis in two decades, the postmodern movement has suffered greatly. Two of the first realist writers were Honore de Balzac and George Eliot. Balzac's Le Comedie Humaine (1830) "contains none of the baser instincts of man that are glorified in romanticism," (Alter 201). In this 20-year compilation work, Balzac covered many topics, but according to Robert Alter, president of the Association of Literary Scholars and Critics (1997), the most important one is that of social and economic ambition. Eliot's Middlemarch (1871) "viewed human life grimly, with close attention to the squalor and penury of rural life" (Alter 8). Alter says that she is one of the first writers whose work was entirely saturated with pessimism.

What Really Happened in World War 1 and 2 :: essays research papers

The definition of a world war is "a war engaged in by all or most of the principal nations of the world." The First World War was a unique even, because such thing has never happened before in history. Today it is still a topic discussed in details. The causes of the First World War are many, among which the assassination of Archduke Ferdinand in Sarajevo. Other causes were the alliance systems and the nationalism . During the years before the war, a "system of secret alliances" was formed in Europe. The whole point for creating these alliances was maintaining peace throughout Europe. Everybody thought that if countries join forces together, there will be no point for a country to declare war on another. Should this happen, however, both countries will be protected from their allies. This "perfect" on first sight system did not really work well. In fact this is how the war started. Austria - Hungary declared war on Serbia, but both countries had other nations protected World War I was supposed to be the war to end all wars, so how was it that America had to yet again fight in what is considered our world?s second war? Throughout time fuel kept on being added to the fire and America found themselves in what is now called World War II. It seems funny to say that the very thing that ended World War I actually caused the second World War. The Treaty Of Versailles marked the end of World War I but not all countries were satisfied with this. The Germans thought it was unbalanced and unfair to them. Hitler detested the treaty by creating a military and occupying its surrounding neighbors, including Austria-Hungary. Germany continued to take over Czechloslovokia due to its strength in minerals. England and France watched as all this was happening becoming more and more angry. Then England and France decided to declare war if Hitler took over Poland. Another thing that sparked the beginning of World War II was something called militarism. Countries figured that if they provided themselves with a strong military that it would solve their economic problems. Germany started to develop an air force along with a fleet of submarines called U-Boats and battle ships. Along with this, Germany blamed the jewish people for the economic problems there. What Really Happened in World War 1 and 2 :: essays research papers The definition of a world war is "a war engaged in by all or most of the principal nations of the world." The First World War was a unique even, because such thing has never happened before in history. Today it is still a topic discussed in details. The causes of the First World War are many, among which the assassination of Archduke Ferdinand in Sarajevo. Other causes were the alliance systems and the nationalism . During the years before the war, a "system of secret alliances" was formed in Europe. The whole point for creating these alliances was maintaining peace throughout Europe. Everybody thought that if countries join forces together, there will be no point for a country to declare war on another. Should this happen, however, both countries will be protected from their allies. This "perfect" on first sight system did not really work well. In fact this is how the war started. Austria - Hungary declared war on Serbia, but both countries had other nations protected World War I was supposed to be the war to end all wars, so how was it that America had to yet again fight in what is considered our world?s second war? Throughout time fuel kept on being added to the fire and America found themselves in what is now called World War II. It seems funny to say that the very thing that ended World War I actually caused the second World War. The Treaty Of Versailles marked the end of World War I but not all countries were satisfied with this. The Germans thought it was unbalanced and unfair to them. Hitler detested the treaty by creating a military and occupying its surrounding neighbors, including Austria-Hungary. Germany continued to take over Czechloslovokia due to its strength in minerals. England and France watched as all this was happening becoming more and more angry. Then England and France decided to declare war if Hitler took over Poland. Another thing that sparked the beginning of World War II was something called militarism. Countries figured that if they provided themselves with a strong military that it would solve their economic problems. Germany started to develop an air force along with a fleet of submarines called U-Boats and battle ships. Along with this, Germany blamed the jewish people for the economic problems there.

Types of Contracts

TYPES OF CONTRACTS The risk shared between the buyer and seller is determined by the contract type. Although the firm-fixedprice type of contractual arrangement is typically the preferred type which is encouraged and often demanded by most organizations, there are times when another contract form may be in the best interests of the project. If a contract type other than fixed-price is intended, it is incumbent on the project team to justify its use. The type of contract to be used and the specific contract terms and conditions fix the degree of risk being assumed by the buyer and seller.All legal contractual relationships generally fall into one of two broad families, either fixed-price or cost reimbursable. Also, there is a third hybrid-type commonly in use called the time and materials contract. The more popular of the contract types in use are discussed below as discrete types, but in practice it is not unusual to combine one or more types into a single procurement. Fixed price co ntracts. This category of contracts involves setting a fixed total price for a defined product or service to be provided.Fixed-price contracts may also incorporate financial incentives for achieving or exceeding selected project objectives, such as schedule delivery dates, cost and technical performance, or anything that can be quantified and subsequently measured. Sellers under fixed-price contracts are legally obligated to complete such contracts, with possible financial damages if they do not. Under the fixed-price arrangement, buyers must precisely specify the product or services being procured. Changes in scope can be accommodated, but generally at an increase in contract price.Firm Fixed Price Contracts (FFP). The most commonly used contract type is the FFP. It is favored by most buying organizations because the price for goods is set at the outset and not subject to change unless the scope of work changes. Any cost increase due to adverse performance is the responsibility of the seller, who is obligated to complete the effort. Under the FFP contract, the buyer must precisely specify the product or services to be procured, and any changes to the procurement specification can increase the costs to the buyer. Fixed Price Incentive Fee Contracts (FPIF).This fixed-price arrangement gives the buyer and seller some flexibility in that it allows for deviation from performance, with financial incentives tied to achieving agreed to metrics. Typically such financial incentives are related to cost, schedule, or technical performance of the seller. Performance targets are established at the outset, and the final contract price is determined after completion of all work based on the seller’s performance. Under FPIF contracts, a price ceiling is set, and all costs above the price ceiling are the responsibility of the seller, who is obligated to complete the work.Fixed Price with Economic Price Adjustment Contracts (FP-EPA). This contract type is used whenever t he seller’s performance period spans a considerable period of years, as is desired with many long-term relationships. It is a fixed-price contract, but with a special provision allowing for pre-defined final adjustments to the contract price due to changed conditions, such as inflation changes, or cost increases (or decreases) for specific commodities. The EPA clause must relate to some reliable financial index which is used to precisely adjust the final price.The FP-EPA contract is intended to protect both buyer and seller from external conditions beyond their control. Cost-reimbursable contracts. This category of contract involves payments (cost reimbursements) to the seller for all legitimate actual costs incurred for completed work, plus a fee representing seller profit. Cost-reimbursable contracts may also include financial incentive clauses whenever the seller exceeds, or falls below, defined objectives such as costs, schedule, or technical performance targets. Three of the more common types of cost-reimbursable contracts in use areCost Plus Fixed Fee (CPFF), Cost Plus Incentive Fee (CPIF), and Cost Plus Award Fee (CPAF). A cost-reimbursable contract gives the project flexibility to redirect a seller whenever the scope of work cannot be precisely defined at the start and needs to be altered, or when high risks may exist in the effort. Cost Plus Fixed Fee Contracts (CPFF). The seller is reimbursed for all allowable costs for performing the contract work, and receives a fixed fee payment calculated as a percentage of the initial estimated project costs. Fee is paid only for completed work and does not change due to seller performance.Fee amounts do not change unless the project scope changes. Cost Plus Incentive Fee Contracts (CPIF). The seller is reimbursed for all allowable costs for performing the contract work and receives a predetermined incentive fee based upon achieving certain performance objectives as set forth in the contract. In CPIF cont racts, if the final costs are less or greater than the original estimated costs, then both the buyer and seller share costs from the departures based upon a prenegotiated cost sharing formula, e. g. , an 80/20 split over/under target costs based on the actual performance of the seller.Cost Plus Award Fee Contracts (CPAF). The seller is reimbursed for all legitimate costs, but the majority of the fee is only earned based on the satisfaction of certain broad subjective performance criteria defined and incorporated into the contract. The determination of fee is based solely on the subjective determination of seller performance by the buyer, and is generally not subject to appeals. Time and Material Contracts (T&M). Time and material contracts are a hybrid type of contractual arrangement that contain aspects of both cost-reimbursable and fixed-price contracts.They are often used for staff augmentation, acquisition of experts, and any outside support when a precise statement of work cann ot be quickly prescribed. These types of contracts resemble cost-reimbursable contracts in that they can be left open ended and may be subject to a cost increase for the buyer. The full value of the agreement and the exact quantity of items to be delivered may not be defined by the buyer at the time of the contract award. Thus, T&M contracts can increase in contract value as if they were cost-reimbursable contracts.Many organizations require not-toexceed values and time limits placed in all T&M contracts to prevent unlimited cost growth. Conversely, T&M contracts can also resemble fixed unit price arrangements when certain parameters are specified in the contract. Unit labor or material rates can be preset by the buyer and seller, including seller profit, when both parties agree on the values for specific resource categories, such as senior engineers at specified rates per hour, or categories of materials at specified rates per unit.