Functions and Importance of Communication

Functions and Importance of Communication Any attempt to emphasise the importance of communication in modern day existence, clichà ©d as it may sound, is bound to be superfluous. In all probability, human life would cease to exist in its present form if communication were to be taken out of the picture. Communication helps humans in a myriad ways, by defining their identities and in satisfying their needs for affection, inclusion, assertion, relaxation and control. It is necessary at all waking hours; during work and at play. It is essential for gaining knowledge and building relationships, for doing daily tasks, and for achieving progress in life. Over the years extensive research, by social scientists and human relations experts, has given rise to an extensive body of literature on the subject. It is the purpose of this essay to take up the issue of communication within organisations and groups; evaluate its functions, and analyse its importance. All organisations, large or small, business, governmental or not for profit, have agendas that could range from the very complex to the extremely simple. Communication is a demanding organisational issue and vitally important to organizational functioning for the execution of these agendas, regardless of size, nature or industry type. Professor Leif Aberg (1998) of the Department of Communication, University of Helsinki states that communication gives these organisations momentum by fulfilling four basic functions, namely (a) supporting core functions, (b) profiling, (c) informing and (d) socialising. While the relative importance and scope of these four functions depends, to a great extent upon the size and nature of individual organisations, all four functions, taken together, undoubtedly account for most of the formal communication that occurs within organisations. Core functions of different organisations could range from manufacturing products to providing services; or as is the case with many governmental bodies, executing administrative work. Core processes, irrespective of their nature, can occur only through effective communication between organisational members. Communication can be top down, bottom up, horizontal or diagonal. Again it can relate to any or more of the issues involved in the carrying out of core functions. Incidences of such communication can occur in multifarious ways and can vary from production instructions given to a machine attendant to the distribution of work schedules by a supervisor or the routing of a customer order to the kitchen of a restaurant. Ineffective communication results in the creation of intra-organisational barriers and stifles efficient operations. Effective communication between the management and the workforce has, as such, become an accepted imperative for organisational excellence, and breakdow ns in this area are inevitably regarded as issues of major concern Profiling comes into play when long term corporate, product, service, or manager profiles are created. These profiles basically relate to crucial strategic choices made by organisations concerning their long term goals and objectives. A long term product or service profile, for example, represents the business strategy of an organisation. It would thus necessarily need to be communicated to all members of the organisations to make them aware about key organisational decisions and road maps. The dissemination of information within an organisation is another key component of organisational communication structure. Very typically, significant amounts of information are regularly processed within an organisation. These can (a) relate to events as well as developments that are internal or external to the organisation, or (b) concern organisational decisions taken at senior levels. Such information may need to be conveyed to members of the establishment. Decisions to communicate this sort of information are usually taken by members of senior management in consultation with communication managers. Recent developments in Internet Communication Technology, for example, could be of interest to all members of a communications company. In such a case, the communications manager might well decide to select and convey information that could be relevant to the employees or which pertains to developments that could well impact the company in the short or medium term. Information about internal decisions could cover a very broad ambit and possibly include details about organisational performance, targets, personnel policies, promotions, increments and the like. It is imperative to ensure that real time business information reaches all ranks and functions in the organization. Considering the bulk of such information, it is thus but appropriate that the majority of communication matters within organisations deal primarily with dissemination of routine information. The last regular function of communication concerns socialisation. Socialisation is primarily a process wherein members of an organisation or group learn to assimilate and internalise the behavioural norms, attitudes, thought processes and work ethics of the parent body. In most cases socialisation occurs when new entrants join organisations and take up their responsibilities. Its need could arise for existing organisational members too if they have to be transferred to different locations or departments. Socialisation is essentially a learning process and could be needed, both at the time of induction of employees into an organisation, or at the time of their induction to work. It is one of the primarily responsibilities of the Human Resources function and normally takes place through training and induction protocols. These protocols are obviously dependent on communication through written, audiovisual, personal interaction, mentoring, or classroom mediums for their actual operation . Apart from these four standard functions, informal communication takes place constantly within organisations and groups and serves to increase social interaction between colleagues and co-workers; thereby helping in building relationships, inculcating feelings of belonging and strengthening organisational loyalty and commitment. The British Army, for example, encourages officers to get together at regimental messes, after the days work, to bond and build relationships of trust, regimental pride, camaraderie, and loyalty towards the country and the Queen. Informal communication takes place, most commonly between people who share the same workplace, as well as within small groups who build relationships in canteens, office gyms and during informal group activity events. While this type of communication is generally outside the administrative control of organisation, most organisational leaders try to ensure that informal communication remains healthy, or rather, that it does not dispar age anybody. Most HR managers feel that informal communication should protect the interests of the organisation and remain free of gender or race abuse. Communication is not thought of any more as a routine and peripheral function. Its role as a driver of organisational success is well accepted and managements are increasingly trying to ensure its optimal use in the shaping and steering of organisations. Richard Luss and Steven Nice (2004) of Watson Wyatt state that communication serves organisations in two major ways. Firstly it drives superior performance by ensuring the following. Employees feel connected to the business and understand how their actions can support it. New employees exhibit solid connections to the company culture starting from their initial days on the job. Communication quickly connects employees to changing business challenges, facilitating faster adjustments to fluctuating market conditions. Management effectively connects with employees through strong leadership during times of organizational change Secondly, it helps in improving business performance by â€Å"(a) building a strong foundation of formal communication structure and processes, which rely on employee feedback and effectively use technology to connect with employees, dealing directly with the strategic issues of change, continuous improvement and business strategy integration and alignment, and (b) by changing employee behavior by inducing changes in managers’ and supervisors’ behavior and by creating a line of sight between employees and customers† (Luss and Nice, 2004) The challenges of modern business and the intense and ever-increasing competition that have become its distinguishing features demand sharp and cutting edge operational efficiencies. The use of excellent communication is proving to be one of the most effective tools in the hands of organisational leadership for routing their companies towards ambitious targets and greater successes. References Aberg, L, (1998), Organisational communication as a strategic resource, Retrieved January 10, 2007 from www.valt.helsinki.fi/staff/aberg/iabclast/ Harris, T. E. (2002). Applied Organizational Communication: Principles and Pragmatics for Future Practice. Mahwah, NJ: Lawrence Erlbaum Associates. Kramer, M. W. (2004). Managing Uncertainty in Organizational Communication. Mahwah, NJ: Lawrence Erlbaum Associates. Luss, R and Nyce, S, (2004), Connecting Organizational Communication to Financial Performance: The Methodology behind the 2003/2004 Communication ROI Study, Retrieved January 10, 2007 from www.ociabc.org/events/presentations/ROI_Study_Methodology.pdf Manning, P. K. (1992). Organizational Communication. New York: Aldine de Gruyter. Tourish, D. Hargie, O. (Eds.). (2004). Key Issues in Organizational Communication. New York: Routledge.

Chemicals in Disinfectants and Sterilants

Chemicals in Disinfectants and Sterilants Discuss the uses and modes of action of chemicals used as disinfectants and sterilants Disinfectants and sterilants have been available in a variety of forms for a great number of years. The pioneering work of Joseph Lister and Ignaz Semmelweis effectively opened the door to the range of chemicals that we have available today. Phenols (carbolic acid derivatives), mercuric chloride, chlorides, hypochlorites and iodine were the first major groups to be utilised. The quaternary ammonium compounds rose to prominence in the 1930s (Russell, A. D. 2002 [I]). The first detailed studies on the subject of mode of action were published by Cooper, who described the action of phenols as denaturing bacterial proteins as their main mode of operation (Cooper E A 1912) Knaysi expanded this work further by suggesting that the order of death amongst cells was determined by some form of resistance (Knaysi G 1930) and that this might be linked to the protein structure of the cell wall (Knaysi G et al. 1930). Further work on phenol suggested that resistance of E.Coli was the same at virtually any concentration of phenol (Jordan, R. C et al. 1944) and this lead to the development of the concept of specific enzyme inhibition. (Roberts, M. H et al. 1946) The term biocide is becoming more commonly used to describe the generic group. Russell (A D 2002 [II]) makes the comment that, until recently, two views permeated the field. One was that as long as they were effective, there seemed little merit in determining how they arrived at their inhibitory or lethal effects and secondly, that they were believed to act as protoplasmic poisons and, as such did not merit much attention. We will present evidence to dispute both of these views. Specific work on the mode of action of the biocides has been sporadic until comparatively recently. Gram-positive and -negative bacteria appear to have received the lion’s share of the research with less on the mycobacterium, less still on fungal and viral agents (Maillard, J.-Y et al. 1997), and few quality papers on the protozoa. (Turner, N. A et al. 1999). We know even less still on the ability of biocides to inactivate prions. (Taylor, D. M 1997). Because of the wide range of potential biocidal (and biostatic) agents, it is not possible to even begin to tackle the question of mode of action in this essay on any but the most general terms There are a number of current research issues such as the question of why it is that MIC’s of some cationic biocides such as chlorhexidine is similar for both mycobacterium and staphylococci yet they appear to possess low mycobacterium potency but are rapidly lethal to the staphylococci (Russell A D 1996) Current considered opinion is that the majority (if not all) cells are not killed by a disactivation of a single target enzyme by the biocide. (Hugo, W. B. 1999) Specific examples would be that enoyl reductase, (an enzyme involved in fatty acid synthesis) is totally inhibited by triclosan it is a combination of other intracellular disruptions that prove to be lethal to the cell. (Suller, M. T. E et al. 2000) A number of researchers have commented on the apparent similarities between the disinfectants and sterilants group and the antibiotic group in terms of their effect on bacteria. To give specific examples, filament formation in Gm-ve. Bacteria is induced by both antibiotics (eg. ß-lactams andfluoroquinolones) and biocides (eg.phenoxyethanol and chloroacetamide) (Ng, E et al. 2002). Equally we have mentioned the action of triclosan on enoyl reductase, but this enzyme is also inhibited by isoniazid. (McMurry, L. M et al. 1999). A third category of similarity would be that the cell autolysis observed with both the phenols and some mercuric compounds is apparently the same as the processes observed with exposure to penicillin. (Hugo, W. B. 1999). Other research groups (McKellar, R. C et al. 1996) have noted that exposure to some biocides can render a pathogen more susceptible to the action of antibiotics. It was postulated (although not proved) that this effect may be due to a structural change resulting in differing permeability in the cell wall of the microbe. (Morris, A et al. 1991) It is not intended to imply that because these mechanisms appear similar that they are actually the biochemically or physiologically the same. Further research is needed to clarify these points We have made comment on the apparent ability of some biocides to interfere with the integrity of the cell wall. In the case of the bacteria and fungi this may be a useful attribute to exploit, but it is a different matter in dealing with viral (and phage) vectors. The problem being that if the viral envelope which is usually derived from the host cell is damaged, then this can result in the liberation of intact viral nucleic acid which, in itself, may be infective. (McClure, A. R et al. 1992) If we consider one mechanism in some detail by way of an example, we could consider the action of chlorhexidine. This has been shown to produce a very rapid lethal effect ( about 20 seconds) in both E.Coli and Staph. Aureus. (Denyer, S. P. 1995). It has been shown to produce damage to the outer cell membrane, but this action does not directly cause cell death. (El-Moug, T et al. 1985) Chlorhexidine then crosses the damaged membrane by passive diffusion and causes leakage of the intracellular components. The cause of cell death is the inactivation of the intracellular constituents by protein denaturation of their controlling enzyme systems. This causes a further congealing of the cytoplasm and this reduces cellular leakage. This is the so-called biphasic mechanism of action of chlorhexidine. (Longworth, A. R. 1971). There was a suggestion that chlorhexidine bound and inactivated the membrane-bound ATPase. It thereby disrupts the membrane potential and this is thought to be the prime mechanism of cell death .(Barett-Bee, K et al. 1994) In conclusion, we have considered some of the mechanisms that are thought to be active in the bioactivity of disinfectants and sterilants. In doing so we should also consider the question of resistance. Many pathogens have efflux systems which can combat or eliminate biocides from their environment. These can work at comparatively low concentrations of the biocide. But it opens up the possibility of the development of biocide resistance in those cells which survive the initial exposure (possibly due to incomplete treatment or peripheral exposure to low concentrations of agent). This mechanism selectively favours the emergence of biocide-resistant pathogens. (Azachi, M et al. 1996) This issue has prompted calls for the rotation of disinfectants and sterilants in hospitals and elsewhere. (Benarde, M. A et al. 1967). The use of one disinfectant should ideally be replaced with another which has a completely dissimilar mode of action. This is one argument for the study of the mode of action of both disinfectants and sterilants. Other arguments for studying the mechanisms of action of the biocides are many, not least is the fact that the knowledge of the mechanism of how a particular biocide can exert its effect can lead to the selective development of new targeted compounds with greater efficiency. An example of this process is the development of ortho-phthalaldehyde (OPA), which was specifically developed and adapted from â€Å"older† compounds. (Behr, H et al. 1994) References Azachi, M., Y. Henis, R. Shapira, and A. Oren. 1996.  The role of the outer membrane in formaldehyde tolerance in Escherichia coli VU3695 and Halomonas sp. MAC.  Microbiology 142:1249-1254 Barett-Bee, K., L. Newboult, and S. Edwards. 1994.  The membrane destabilizing action of the antibacterial agent chlorhexidine. FEMS Microbiol. Lett. 119:249-254 Behr, H., M. E. Reverdy, C. Mabilat, J. Freney, and J. Fleurette. 1994.  Relation entre le niveau des concentrations minimales inhibitrices de cinq antiseptiques et la prà ©sence du gà ¨ne qacA chez Staphylococcus aureus.  Pathol. Biol. 42:438-444 Benarde, M. A., W. B. Snow, V. P. Olivieri, and B. Davidson. 1967.  Kinetics and mechanism of bacterial disinfection by chlorine dioxide.  Appl. Microbiol. 15:257-265 Cooper, E. A. (1912).  On the relationship of phenol and m-cresol to proteins: a contribution to our knowledge of the mechanism of disinfection.  Biochemical Journal 6, 362–87. Denyer, S. P. 1995.  Mechanisms of action of antibacterial biocides.  Int. Biodeterior. Biodegrad. 36:227-245. El-Moug, T., D. T. Rogers, J. R. Furr, B. M. A. El-Falaha, and A. D. Russell. 1985.  Antiseptic-induced changes in the cell surface of a chlorhexidine-sensitive and a chlorhexidine-resistant strain of Providencia stuartii.  J. Antimicrob. Chemother. 16:685-689 Hugo, W. B. (1999).  Disinfection mechanisms. In Principles and Practice of Disinfection, Preservation and Sterilization, 3rd edn, (Russell, A. D., Hugo, W. B. Ayliffe, G. A. J., Eds), pp. 258–83.  Blackwell Science, Oxford Jordan, R. C. Jacobs, S. E. (1944).  Studies on the dynamics of disinfection. I. New data on the reaction between phenol and Bact. coli using an improved technique, together with an analysis of the distribution of resistance amongst the cells of the bacterial population studied.  Journal of Hygiene (Cambridge) 43, 275–89. Knaysi, G. (1930).  Disinfection. I. The development of our knowledge of disinfection.  Journal of Infectious Diseases 47, 293–302. Knaysi, G. Morris, G. (1930).  The manner of death of certain bacteria and yeast when subjected to mild chemical and physical agents.  Journal of Infectious Diseases 47, 303–17. Longworth, A. R. 1971.  Chlorhexidine, p. 95-106. In W. B. Hugo (ed.), Inhibition and destruction of the microbial cell.  Academic Press, Ltd., London, England. Maillard, J.-Y. Russell, A. D. (1997).  Viricidal activity and mechanisms of action of biocides.  Science Progress 80, 287–315 McClure, A. R., and J. Gordon. 1992.  In vitro evaluation of povidone-iodine and chlorhexidine against methicillin-resistant Staphylococcus aureus.  J. Hosp. Infect. 21:291-299 McKellar, R. C., McKenzie, C. N. Kushner, D. J. (1996).  Correlation of resistance to proflavine and penicillin in Escherichia coli. Antimicrobial Agents and Chemotherapy 10, 765–7   McMurry, L. M., McDermott, P. F. Levy, S. B. (1999).Genetic evidence that InhA of Mycobacterium smegmatis is a target for triclosan. Antimicrobial Agents and Chemotherapy 43, 711–3 Morris, A. Russell, A. D. (1991).  The mode of action of novobiocin. In Progress in Medicinal Chemistry, (Ellis, G. P. West, G. B., Eds), Vol. 41, pp. 39–59.  Butterworths, London.   Ng, E. G.-L., Jones, S., Leong, S. H. Russell, A. D. (2002).  Biocides and antibiotics with apparently similar actions on bacteria: is there the potential for cross-resistance?  Journal of Hospital Infection 2002 Vol 3 pgs 239-242 Roberts, M. H. Rahn, O. (1946).  The amount of enzyme inactivation at bacteriostatic and bactericidal concentrations of disinfectants.  Journal of Bacteriology 42, 639–44. Russell, A. D. (1996).  Activity of biocides against mycobacteria.  Journal of Applied Bacteriology, Symp. Suppl. 81, 87S–101S. Russell, A. D. 2002 (I)  Introduction of biocides into clinical practice and the impact on antibiotic resistant bacteria.  Journal of Applied Microbiology, Symp. Suppl. 2002 Russell A D 2002 (II)  Mechanisms of antimicrobial action of antiseptics and disinfectants: an increasingly important area of investigation  Journal of Antimicrobial Chemotherapy (2002) 49, 597-599 Suller, M. T. E. Russell, A. D. (2000).  Triclosan and antibiotic resistance in Staphylococcus aureus.  Journal of Antimicrobial Chemotherapy 46, 11–8 Taylor, D. M 1997.  Inactivation of unconventional agents of the transmissible degenerative encephalopathies. In A. D. Russell, W. B. Hugo, and G. A. J. Ayliffe (ed.), Principles and practice of disinfection, preservation and sterilization, 3rd ed., in press.  Blackwell Science, Oxford, England. Turner, N. A., Russell, A. D., Furr, J. R. Lloyd, D. (1999).  Editorial: Acanthamoeba spp., antimicrobial agents and contact lenses.  Science Progress 82, 1–8

Marcel Duchamp Why Is the Fountain Art

The In-depth Artist of the What was Fountain originally submitted for and what happened to it? The 1917 urinal aka Fountain was originally put on display during a show promoting Avant grade art. Avant grade means advance guard which is a military term. Avant garde was art movement which originated in France in 1850 in order to open the eyes and more so, make fun of or shock the average or elite viewer. To put an everyday, ordinary item on display and call it art. For many of the upper class directors of the showing, this piece was ridiculous and they did not understand it and thought it an insult of sorts. Shortly after its first and only exhibit, the Fountain just happened to vanish. This particular piece was one of the more remembered pieces of these ready-mades that Duchamp produced. Other artists from 1850, which was the beginning of the Avant Garde Movement, to approximately 1970, also had well known pieces of art that was displayed to the elite, rich, and upper class viewers, including Andy Warhol, Rockefeller and Basquit. The pieces were to rattle there conscience and make them look deeper at ordinary pieces and more or less humble them in a way or make fun of their elite, snobbish, uptight, society waysSalvador Dali The Love of Zero, a 1927 film by Robert Florey. Is a piece of art like the Fountain plagiarism or is it art by virtue of selection? The piece of art similar to the Fountain could be considered plagiarism by some because the originality of the piece was not created by the artist themselves but by someone else. The artist merely used another persons ordinary, everyday invention or household item per say and displayed it as a piece of art. The ordinary item then transformed from the ordinary item with a humble use and purpose to a piece of art on display causing the viewer to search deeper for what the artist might have meant by using it. The same piece could also be considered Art by virtue of selection as well. Being that the particular art piece on display has a different meaning for each viewer; the same piece put on display by different artists would again have a different meaning to them as well. Any artist could have a collection of pieces that he feels is his very best masterpieces while a viewer may see that same collection as the worst thing he has ever seen. It is all in the eyes of the beholder. Art by virtue of selection means that is a selection from or by the artist as to what he feels is a appealing or is what he would like or prefer for himself. With that, we have to appreciate that each of us are unique and have our own individual tastes. 3. What is the Dada movement? What piece of art spawned the Dada movement? Dada movement originated in Zurich in 1916-1923 was also called (The Non Movement By Shelley Esaak). A group of artists and writers, during World War 1 went against the war and the society and cultures of the viewer that condoned the war or caused its production . This group were similar to the hippies of the 60s, who protested against the government and war, but did so with humor, wittiness and sarcasm but not anger as the later. , Duchamp, being among that group, was the creator of many of those sarcastic pieces and had made fun of already well known pieces of art. They took different subjects, altered them in hoping that the upper class citizens or the elite would love it, hate it or take it as the sarcastic, humorous and witty piece they had intended for it to be. A good example of this is the portrait painting of the infamous Mona Lisa by Leonardo da Vinci. Duchamp had doodled a mustache and goatee on the womans face. Of course this was humorous. to many and insulting to others, more so to the elite, high society followers of the latter. Duchamp and his fellow artists were not necessarily defiling or demeaning the art nor trying to be angry and confrontational; but more so get the attention of the viewer to not focus on the war at hand, their high life living, governmental rules and beliefs 4. Look through Duchamps other artwork? What pieces do you like and why? What was his inspiration for those pieces? After researching with great intrigue and interest in the meanings of not only Marcel Duchamps work, but his entire lifes events. He seemed to have such a deep, comical at times to the point of almost sadness image and view of the world around him. It is hard to decide if he is mocking society, making fun of it and thinks him superior to just very observant to the human perception. I was especially interested on his self portrait of himself as an infamous, black, socialite, librarian, Belle da Costa Greene. Whose parents had. Resided in the nations capital until they divorced . Her, her mother and siblings were able to play off that they were of a white heritage with their light skin. She went on to be the personal librarian to JP Morgan and then to his son Jack. With her profound beauty and outspoken intelligence, she became accepted as a highly elite socialite among the tradesman, dealers and Madison Avenues society. She had never married and lived as the Morgans personal librarian till her death retirement in 1948 and death two years later. Her well known expertise and unlimited available funds to make trades for her extensive built library she was very well respected and able to be mingle amongst the highest society groups, she once announced, Just because I am a librarian with a and inheriting a large sum of money An announcement she had made as a motto per say for herself, Just because I am a librarian, doesnt mean I have dress like one. She had designer clothing and rare exotic looks, was once asked if she was Mr. Morgans mistress and her only response was We Tried Mr. Morgan had left her $50,000. 00 in his will. The in-depth information was forthcoming to the conclusion of my personal perception and Marcel Duchamps meaning behind the portrait of himself dressed as an elegant socialite: Rrose Selavy Was he making fun of her and the secrets she kept of hersefl througout her life or was he just intrigued by her as well as others who was her aqaintances? I find it interesting take as to think he would be using her as a readymade perhaps Rrose Selavy (Marcel Duchamp).

Department Store Marketing Comparison

1. I have chosen to discuss and compare the department store industry. I have chosen this industry because I live in Southern California where the retail sector is a major part of business. Shopping malls are prevalent everywhere. I have seen and experienced all the differences among class and status. With a wide variety of demographics in Southern California, there are a number of shops and stores to choose from. Department stores range from discount warehouses such as Wal-Mart, mid-range stores such as JC Penney, and high-end stores like Nordstrom.I am going to discuss the department store industry specifically for Wal-Mart, JC Penny, and Nordstrom. Coming from a middle-class family, I have experienced shops at all ends of the department store spectrum. When it comes to the amount of department stores located throughout the United States, businesses are placed accordingly. High-end stores are placed in wealthy areas; where as low-end stores are placed in a suitable region. The amou nts of department stores, specifically for each status, are generally appropriate as well. 2. GeographicDemographicPsychographicBenefits SoughtJC PenneyJC Penney’s are located in most major shopping malls in a variety of communities. JC Penney has over 1,100 locations around the United StatesJC Penney tends to focus on the female demographic. More specifically mothers and middle-age womenTries to sell quality items at a low cost. Their new slogan is â€Å"fair and square pricing. † They try to emphasize that their prices are fair at market values. JC Penney is telling customers that they can benefit from their low prices. Don’t go to Nordstrom where everything is expensive or Wal-Mart where the quality is low Wal-MartWal-Marts are often located in low-income areas.Wal-Mart has over 7,000 locations in 15 countries. Wal-Mart targets people of all ages to shop at their stores. They offer children’s, women’s, and men’s clothing. Usually, familie s shop at Wal-Mart. The average annual income for a Wal-Mart shopper is $35,000-$45,000. Many minorities, as well as white decent are what make up the ethnicity of shoppers. Wal-Mart’s main goal is to provide a wide variety of discount priced items for their customers. Their slogans have included â€Å"Always low prices. Always. † and â€Å"Save money. Live better. † Rock bottom pricing and price match guarantees are the norm. Wal-Mart is here consumers go for the absolute lowest prices. If a price isn’t as low as another location, Wal-Mart will match it. NordstromNordstrom stores are much less common than Wal-Mart and JC Penney stores. They are placed in areas where the company knows there are enough individuals that want high end items. Nordstrom caters to the professional who is looking for higher end clothing that is made of quality materials. Nordstrom emphasizes quality and customer service. They pride themselves on offering the â€Å"best customer service of any retailer in America. Nordstrom offers quality items at a decent price.Customers don’t go to Nordstrom for rock-bottom pricing. They go for personal selling and upscale items. These three companies have very different approaches to retail. Wal-Mart is the one-stop shop that people go to for the lowest prices. JC Penney offers quality products at a low price. They usually have similar styles as places like Nordstrom but with lesser-known brands. Nordstrom carries high-end products and they stress customer service and quality. They each take up their own segment of the retail business. 3. Marketing Mix: The Four P’s ProductThe product is seen as satisfying what a consumer needs.It is a tangible good or intangible service. Intangible services are industries such as tourism. Tangible products are cars, razors, etc. PriceThe amount a customer pays for the product. Price determines a company’s profit and has an impact on marketing strategy. Marketers mu st be aware of the perceived value of a product when setting prices. PromotionThis represents the methods of communication that a marketer uses to provide information about their products. Promotion consists of advertising, public relations, etc. PlaceProviding the product at a place that is convenient for consumers. Place is the distribution aspect.JC Penney: Product: Like its two competitors, JC Penney offers a variety of tangible goods for sale. JC Penney caters to its customers with higher end products at an affordable price. It is similar to Nordstrom’s in the types of goods offered. It differs from Wal-Mart because it has less variety. JC Penney offers clothing, bed and bath products, home items, clothing accessories, and patio furniture. Clothing is the main area of production for JC Penney and accounts for more than 50% of sales. Price: JC Penney has recently decided to move to three kinds of prices: everyday, monthly specials, and clearances.They came to this strateg y through a variety of studies. First, using past sales data, the company looked at consumers' actual purchasing behavior, and came up with what it terms â€Å"Fair and Square† pricing, which means shoppers can expect lower prices in stores at all times. To reach this conclusion, research showed 72% of JC Penney's revenue came from selling items priced at least 50% off. Thus, in the example cited in most recent news stories about the â€Å"Fair and Square† strategy, a T-shirt that had retailed for US$14 but typically sold — after markdowns — at US$6, would now be priced at a US$7 every day.Part two of â€Å"Fair and Square† means monthly deals, and in the T-shirt example, the garment would now be marked US$6. The final piece of â€Å"Fair and Square† is called â€Å"best price,† which happens on the first and third Fridays of the month. Said T-shirt would now be marked $4, to clear out seasonal colors and bring in new merchandise. Bas ically, JC Penney focuses on â€Å"sale† items. They use sales to manipulate prices. A â€Å"sale† is really what price the marketer decides to sell an item for to continue making a profit. These sales are based upon how well certain items sell and their perceived â€Å"market values. Promotion: JC Penney focuses its advertisements around the four seasons and its holidays. For example, Thanksgiving, Christmas, Easter, etc are when JC Penney promotes its items through television and print advertisements. JC Penney is also making a push towards â€Å"smart advertising. † Their promotions now appear in digital magazines, websites, mobile phone apps, etc. Place: JC Penney has more than 1,100 locations across the United States. Many of these locations are at large shopping malls where people go to buy clothes. There is easy access to JC Penney’s product.In addition to the stores, most of JC Penney’s clothing can be purchased from the official website. This gives customers two ways to purchase items on sale at JCP. Wal- Mart: Product: Wal-Mart markets itself as a store where one can walk in and literally purchase anything they need. They offer clothes, sporting goods, food, jewelry, electronics, patio furniture, toys, home improvement, music and movies, automobile parts, etc. The idea is for Wal-Mart to be a one-stop shop for anything a family needs. Price: Wal-Mart’s motto is â€Å"always low prices. † They aim to sell their products at a lower price than nearly every competitor.They usually stock lower quality versions of items at the cheapest price and they even offer a price-match guarantee. If another store is selling the same item for cheaper than Wal-Mart says they will match it. A new part of this guarantee is that customer’s do not have to have the information on hand. They merely need to ask for a price match and the associates should know through prior research. Wal-Mart also does not focus as much on sales but rather on â€Å"everyday† low prices. Promotion: Wal-Mart television advertisements focus on their price match guarantees and everyday low prices.A new Wal-Mart ad campaign bears the slogan â€Å"Low Prices. Every Day. On Everything† and features five 30-second commercials, including ads featuring an Easter egg hunt and a customer asking for a price match. The changes are bringing back local food favorites and national brands in household basics and general merchandise like consumer electronics. Some changes are tailored to local markets. In Phoenix, for example, shoppers will find pool supplies and lawn and garden items year-round. Place: Wal-Mart has 8,500 stores in 55 countries. It is the most recognizable one-stop shop in the world.Wal-Mart is present in many places around the United States that do not have other major retail outlets. For many communities, Wal-Mart is the place to go to find everything one needs to live. Nordstrom: Product: Nordstrom i s a large department store that focuses on upscale items. They carry items from mostly luxury clothing companies such as Hugo Boss, Chanel, etc. Initially a shoe retailer, the company today also sells clothing, accessories, handbags, jewelry, cosmetics, fragrances, and in some locations, home furnishings. Price: Nordstrom’s customers care less about price and more about quality.The goods offered are not a bargain. They are meant for those in need of upscale items. Luxury products are defined in part by their price. Nordstrom is seeking to appeal to those people that want department store prices but not necessarily large sales and discounts. Promotion: Nordstrom's does not use a low price tag to attract customers; instead they use quality. While it is pricier to shop for clothes and home decor at Nordstrom's; most designer labels prove to be of better quality, uniqueness, and durability. Many of Nordstrom’s television ad campaigns focus on â€Å"re-defining† one. Their marketing strategy focuses on how people can approve their lives with quality clothing and accessories. Place: Nordstrom has 225 stores operating in 29 states. Nordstrom is much less ubiquitous than Wal-Mart and JC Penney. They are located mostly in shopping malls but the company makes sure to build their stores only where there are enough people that can afford luxury items. 4. JC Penney: The JC Penney website has a clean and easy layout. The top of the site has a search bar and then a number of tabs representing each department available to browse through.The website also uses color-coding. Anything representing the values and sales for May is written in purple. There are products on the front page with prices listed underneath. These prices are each in a purple box to show that the sale price is for May. There is one large picture that dominates the home page. It has the letters MOM with â€Å"it’s mother’s may† written above it. As I said before, JC Pe nney focuses its advertising on holidays. The site is user-friendly. Everything is easy to read and it is not too cluttered. The site has areas to find a store and a â€Å"best prices† section.On the upper right there are four logos: a cell phone, envelope, facebook, and twitter. JC Penney is keeping up with the times by including other types of websites and embracing social media. Wal-Mart: The Wal-Mart website is more cluttered than the JC Penney one. On the top there are 5 buttons that read: Value of the day, local ad, store finder, registry, and gift cards. To the right of this is an area to log into a Wal-Mart account and track your orders. On the left of the page is a column showing the major departments available on walmart. com. Under this are two more columns showing savings as well as new products.In the middle of the page there are color advertisements very similar to what one would find in print circulation ads from the mail. There are â€Å"specials† all o ver the front page. Under the advertisements there are two rows titled â€Å"more great ways to save† and â€Å"shop Wal-Mart best sellers. † The Wal-Mart website is cluttered and it is difficult to find what you’re looking for. There is an overload of information. Nordstrom: Nordstrom has the most simple website of the three. The top has tabs for Women, Men, Juniors, and Kids as well as all the brands offered at the store. There is also a sale tab.After hovering over each tab a pop-up appears. Under the of tabs is a large advertisement called the â€Å"perfect 10. † It is a list of Nordstrom’s 10 warm-weather essentials. Nordstrom’s seasonal advertising is apparent. They are in the midst of promoting the Summer line of clothing. Under the advertisements are links to connect the Nordstrom facebook and twitter pages. There is also a handy store and event locator at the top of the page. The website follows a mostly black and white theme with t he only color being on the clothing pictured. This makes the clothing pop on the page and offers good contrast. . JC Penney has positioned itself as a mid to high-end retailer with excellent sale prices. Wal-Mart is positioned as the one-stop shop with the lowest prices of any retailed. Nordstrom is the high-end retailer that pushes the quality of its clothing over cheap prices. Survey: 5 Questions, 20 people surveyed. Where are you most likely to shop: JC Penney, Wal-Mart, Nordstrom †¢JCP: 11 people, Wal-Mart: 3 people, Nordstrom: 6 people Which has the best prices: JC Penney, Wal-Mart, Nordstrom †¢JCP: 5 people, Wal-Mart: 13 people, Nordstrom: 2 people Which has the best quality: JC Penney, Wal-Mart, Nordstrom JCP: 6 people, Wal-Mart: 1 person, Nordstrom: 13 people Which has the best products: JC Penney, Wal-Mart, Nordstrom †¢JCP 8 people, Wal-Mart: 3 people, Nordstrom: 9 people Which is the best at advertising: JC Penney, Wal-Mart, Nordstrom †¢JCP: 9 people, W al-Mart: 7 people, Nordstrom: 4 people In the college student demographic, most people are likely to shop at JC Penney. I conclude that this is because JC Penney positions itself as offering â€Å"stylish† clothing at good prices. Wal-Mart is seen as the bargain bin and Nordstrom is too expensive for most students.It is evidenced through this survey that each company has a very differentiated place in the consumers’ minds. Wal-mart is seen as the price leader, Nordstrom’s as quality, and JC Penney as good quality at a low price. The consumer impressions of each company match how each of the competitors have positioned themselves in the marketplace. 6. SWOT AnalysisWal-Mart StrengthsWal-Mart’s strengths are centered on its â€Å"always low prices† motto. Wal-Mart positions itself as having the lowest prices of any competitor. They even guarantee to match any competitor’s price.The survey shows that people are getting this message and know tha t Wal-Mart is the cheapest. WeaknessesWal-Mart has a problem when it comes to the perception of the quality of their products. People see Wal-Mart as cheap but low quality. Good in the short-run but not long-lasting. OpportunitiesTo improve performance, Wal-Mart could create an advertising campaign to show how they have low prices AND quality products. They could possible create departments with higher-end goods. ThreatsCompetitors such as Costco and other one-stop shows are external elements that could threaten Wal-Mart.Other companies can also attack the quality of products and the methods Wal-Mart uses to get these prices. 7. Wal-Mart has new CRM strategies in place for the new decade. Wal-Mart president Lee Scott Jr. has addressed how he is trying to make Wal-Mart the â€Å"company of the future. † They are seeking to gain new clients while still keeping old ones. Wal-Mart’s CRM strategy stresses â€Å"corporate responsibility† and its five factors: ethical consumerism, risk management, transparency, accountability, and responsibility. Scott had detailed his company's approach to the social component of retail.Executives, he said, meet regularly with a panel of 50 young consumers, many of whom have cut their personal spending — at restaurants, movies, or shopping in general — and say they feel good about the money they're saving. That sentiment, Scott noted, will likely remain with this generation of consumers even after the economy bounces back, a factor that retailers have to be cognizant of. Despite the consumer preference for multiple touch points, each shopper still expects recognition as a single individual, which means retailers must create a seamless multichannel experience.A rising number of consumers are using two or more channels to research, evaluate, purchase, and return products, Janiak said, a phenomenon that has been made possible by the Internet. According to Forrester Research, by 2012, 49 percent of Uni ted States retail sales will be online or cross-channel sales. Even today, the importance of the online channel is significant, Janiak said, citing a recent Deloitte survey of retail executives that indicated every dollar of merchandise sold online influences as much as $3 in the store. Wal-Mart is committed to covering the Internet aspect of retail in the future.They know that mobile phones, tablets, and laptops are the consumer devices of the future. In addition, Walmart. com, the online division of Wal-Mart, has leveraged its consumer tracking tools to work out even more precisely what the value of each of its customers is. â€Å"They (Walmart. com) know when they put Valentine's Day flowers on sale how much it costs to send that message, what percentage of customers end up on that site because of that message, how much money they will spend, and what is the likelihood of that customer coming back and buying other things,† says Wharton marketing professor David Reibstein.T hey don't simply look at one-time purchases, but at all the purchases afterwards, and use that information to calculate the value of spending advertising dollars. â€Å"They have that down to a science for almost all of their advertising. † Wal-Mart is adept at tracking purchasing patterns and catering their advertising to specific consumers. Nordstrom is also adept at customer relationship management. They stress that they are the leaders in customer service excellence. They state â€Å"the company with the greatest reputation for customer service in the United States continues to be Nordstrom.One of Nordstrom’s leaders states: What that takes is courage, dedication, and the fact that customer service isn't a strategy, but rather a way of life. A couple of years ago a company called me to speak to the organization because [that year] they were focusing on customer service. That [begs] the question: What were you emphasizing last year and what are you going to emphasi ze next year? At Nordstrom, it's a realization that they're not in the apparel business, shoe business, or cosmetic business, they're in the customer business. JC Penney and its new CEO are also at the forefront of CRM.He says that â€Å"a greater impact may come from information systems the customer rarely sees, such as customer relationship management (CRM) software. â€Å"Apple reshaped the retail landscape and combined technology with customer know-how to change the customer experience,† Fader notes. â€Å"Now, every retailer wants to do that. Using technology and social media to enhance the shopping experience is all well and good, but there is lower hanging fruit by using technology to better target buyers. † Nordstrom and JC Penney department stores also have cards such as a â€Å"Nordstrom card† that offer sales and deals to those that shop at Nordstrom frequently.These cards are the company’s way of rewarding those that are frequent purchasers t hat offer a â€Å"lifetime value† to the company. The retailers also offer credit cards to purchase their items that can be paid off with payments instead of all at once. 8. The societal marketing concept holds that a company should make marketing decisions based on what the customer wants. It is closely linked with corporate social responsibility and sustainable development. Companies of the future are focusing on environmental concerns because this is what people care about.Hybrid cars and alternative fuels are hot topics in the modern political arena and corporations must address this. Wal-Mart has begun a food-labeling program that will add â€Å"great for you† to many of its products on the fruit counters. Wal-Mart is trying to stress that its fruits do not include harmful pesticides or fertilizers. Wal-Mart has had environmental problems in the past. They recently had to pay a $1 million dollar fine and develop and environmental management plans because they viol ated storm water requirements under the Clean Water Act. Wal-Mart has created a plan to cut 2. million metric tons of CO2 emissions by 2013 by making stores more efficient. They have also said that Wal-Mart now reuses or recycles more than 80 percent of the waste produced in its United States operations. Since 2005, the company has reduced greenhouse gases by 12 percent and increased its trucks’ fuel efficiency by 65%. It is evident that Wal-Mart is making a concerted effort to be more environmentally responsible. In terms of charity, the Wal-Mart foundation has worked for global women’s economic empowerment, hunger relief, education, military support, and disaster relief.They also have many scholarship programs. JC Penney has committed to reduce energy consumption by 20 percent per gross square foot by 2014 by increasing energy-efficiency improvements and implementing conservation practices. In 2009, the retailer prevented about 80 million pounds of greenhouse gas emi ssions due to its new energy-efficiency measures. The retailer has invested millions of dollars to install advanced metering technology, lighting retrofits, and high-efficiency HVAC systems in its stores. JC Penney was the first retailer to earn the Energy Star Award for sustained energy management.JC Penney has been a member of the ENERGY STAR program since 1999 and was recognized as an ENERGY STAR Partner of the Year in 2007 and 2008. In addition, when the new ENERGY STAR efficiency benchmark for retail stores was introduced in October 2007, four JC Penney stores in Washington State became the first buildings to earn the Energy Star label for energy efficiency. Currently, 52 JC Penney stores, as well as the home office in Plano, Texas, have qualified for the ENERGY STAR Building Label. The retailer has set a goal to achieve ENERGY STAR certification for at least 200 stores across the country.Last year, JC Penney began using social media for charitable giving. They released several new digital initiatives. They also announced that since 1999, they have raised more than $100 million in scholarships and grants through its charity JC Penney Afterschool. Nordstrom is also committed to â€Å"sustaining the environment. They are working on resource conservation, recycling and waste management, packaging innovations, and organic cotton development. They have used 100% recycled bags and boxes since 2008. Nordstrom has perhaps the more radical approach to charity.They have opened a store in New York City at which all the profits have been committed to charity. Other than this, Nordstrom has the least about charity out of the three companies. Each of these three companies has been committed to environmental change. They have demonstrated a commitment to reducing waste and pollution. JC Penney is the most environmentally conscious of the three and was awarded an Energy Star. In terms of charity, Wal-Mart has the most charitable donations of the three. Based on these fi ndings all of the companies are focused on the â€Å"societal marketing concept. 9. With the economic collapse of 2008, the retail sector was one of the hardest hit. However, JC Penney, Nordstrom, and Wal-Mart have recovered remarkably. All three companies recently produced increased profit margins. Wal-Mart is #2 on the Fortune 500 list and isn’t in any foreseeable danger. I would say that of the three, Nordstrom is most in danger of hitting tough times. Although profits rose, Nordstrom caters to high-end retailers. If there is another economic collapse then Nordstrom may face danger. One retail giant that wasn’t so lucky was Mervyn’s.At its peak Mervyn’s had nearly 200 stores in 10 states. However in 2008, Mervyn’s began the process of liquidating its entire inventory and all stores were closed. Their liquidation shows the fragile nature of the retail business. If I could choose any product in this industry to close down I might have to go with Wal-Mart. Wal-Mart is known for exploiting poor nations for resources and cheap labor. Additionally, employees get very few benefits and most are on minimum wage. I think they are too focused on low prices at the expense of quality and fair business practices.They also have a monopoly on the U. S. retail sector. In 2010 they had over $300 billion in sales. The next highest was Kroger at nearly $80 billion. The difference between Wal-Mart and its competitors is staggering. 10. Personal selling involves face-to-face interaction in which a seller persuades the customers to buy products or services. Wal-Mart has over 57,000 suppliers that use personal selling to get their products on Wal-Mart shelves. Wal-Mart has an online step-by-step process to become a supplier to the company.If Wal-Mart is interested in a supplier then they will try to meet the leaders of the supply business to see if they are capable. Suppliers must then sign a contract with Wal-Mart. The contract, commonly known as the vendor agreement, outlines the mechanics of how the supplier and retailer will work together. The agreement generally addresses sales and delivery timeframe, arbitration, and termination rights, and liability. As a rule, Wal-Mart uses a non-negotiable boilerplate. Charley Moore, CEO and founder of legal service RocketLawyer. om, says this means potential suppliers can study similar contracts online before meeting with the buyer. Wal-Mart generally starts out smaller suppliers in a local market, delivering goods to up to 50 stores, as a test run. If the supplier provides a high-selling product and proves reliable, it might be considered for national distribution. Bruce Zutler, CEO and co-founder of MCI Products Group, a New York-based company that specializes in new product development and overseas sourcing, recommends small suppliers think of the test-run as the time to prove they are capable. If you have a good product and you strengthen their sales, then the buyer will stay with you,† says Zutler. The test run is the time when suppliers must â€Å"sell† Wal-Mart on carrying a product. After all these efforts then the product may be picked up nationally and customers can find them at â€Å"everyday low prices† around the nation. 11. If I were the CEO of Nordstrom, I would get my best customers to order more by selectively having sales on items that were popular in the past. I would bring these items back in different styles and colors and place a seasonal sale on the items.This would encourage old customers to reacquire items that they previously liked, but that have acquired wear and tear over the years. I would also offer deals to frequent customers such as â€Å"Spend $200 and get 10% off. † This usually makes people spend more than they are planning on in order to get a deal. In addition to displaying similar clothes to what people ordered, I would follow the Land’s End method and offer matching accessories such as wallets, belts, shoes, watches, etc that go well with items that customers purchased.I would place these accessories close by to the clothing in the store so that people would be more likely to associate the accessories with products that they had already purchased. I would also offer incentives to frequent buyers. The more a person buys, the more â€Å"special† sales and opportunities they are offered. Nordstrom is one of the most successful retailers in terms of data analysis. They have updated their technology to bring SKU information much faster. The new technology also helps to analyze customer patterns and helped bring Nordstrom out it its slump. 12. The three companies have very different advertising efforts.JC Penney has released a new ad campaign called â€Å"say no to the status quo. † The ad campaign includes tv and outdoor ads as well as a Facebook page where visitors can scream their frustration at old types of advertisements. My favorite advertisement ou t of these three companies is the new JCP television ad shows people screaming at sales that ended early. They are overwhelmed at all the different numbers of sales and prices. JC Penney is saying that they are simplifying their sale structures. The campaign paves the way for the company’s new â€Å"fair & square† price structure.The ad is effective in because it has a comedic effect and addresses a legitimate concern for customers that are overwhelmed by the number of sales at retail outlets. Wal-Mart has recently committed to spending more on television advertising. In addition, Wal-Mart added thousands of screens in its retail locations that constantly show advertisements in different areas of the store. Wal-Mart is also trying to focus more on other aspects besides prices. They are beginning to advertise well-known national brands. Nordstrom’s advertising focuses on the quality of their product.Nordstrom's strives to meet customer satisfaction through offeri ng an array of products. â€Å"Our goal is to offer a well-edited range of products for a variety of lifestyles. â€Å". While they don't offer common, everyday needs like toiletries, groceries or cat litter; they do offer more upscale products such as apparel and home decor. Nordstrom, like Walmart, offer a private label–but without the notable discount. Nordstrom’s newest advertisement shows a woman opening the door to a man. The man drops his umbrella and looks at the girl in disbelief. The screen then shows the words â€Å"reinvent the complement. The advertisement is saying that by wearing Nordstrom clothes, people don’t even need to say anything. You can simply tell you are wearing quality clothing by their reaction to seeing you. 13. Retailers have to deal with a variety of factors in their supply chain management process. JC Penney is committed to offering merchandise and services that reflect the full range of their customers’ lifestyle prefer ences. To help them deliver on their brand promise of offering style and quality at a smart price, they pursue relationships with minority and women-owned suppliers that help provide for the needs of its diverse customers.They state that that sustaining a strong supplier base requires building relationships with suppliers they trust. That’s why, for more than 30 years, jcpenney has considered its Supplier Diversity program integral to business success. This program fosters relationships with qualified minority and women-owned suppliers, reflecting the diversity of associates, customers and community. Since its inception, the jcpenney Supplier Diversity Program has realized substantial growth in the purchases of merchandise, goods and services from minority and women-owned suppliers.JC Penney must deal with a variety of other things in its supply change management program. They have a US logistics operation that focuses on developing environmentally sound packaging, utilizing alternative energy sources and conservation to reduce cost and carbon footprint, and continued expansion of recycling and reuse projects. Wal-Mart is noted for the incredible speed of their supply chain. Wal-Mart’s legendary supply chain technology has allowed them to break the three-day barrier that some economists in the eighties felt was largely unbreakable.In other words, Wal-Mart is often able to replenish items on the Wal-Mart shelf in less than three days – not from the central warehouse to the shelf, but from the manufacturer to the shelf. With quick and reliable 2-day turn around, Wal-Mart is able to maintain lower levels of inventory and still meet customer demand. These lower inventory levels result in either a reduced floor plan with lower carrying costs and lower interest expense – or a greater diversity of products on the store shelves. Wal-Mart has over 7,000 factories worldwide that supply their products.Regulating these factories is an enormous practice. In the past, Wal-Mart has come under intense scrutiny because of working conditions in their factories as well as the presence of underage workers. Wal-Mart must deal with these challenges on a regular basis. Nordstrom’s supply chain starts with its vendors that they buy directly from. Once the regional buyers find out what products are needed to reach the target market, they go to the showrooms and order in bulk. The vendors then ship the products to warehouses across the country.They use a system called Accenture to determine their inventory. The inventory of each store is determined by Accenture, sent to each retail store, and purchased by customers. Accenture figures out which products are needed at each store. Nordstrom also uses the supply chain management software called SynQuest. SynQuest markets itself as a tool that facilitates planning, execution, and control on all orders. SynQuest uses financial optimization and real-time management. As it can be seen, Nordstrom and other companies use cutting-edge software to manage their supply chains.

Develop market research plan Essay

In this assessment you are required to establish guidelines for researching and gathering information and work with your staff to gather and evaluate the data. Assessment description You need to review existing policy and procedure documents (in the appendices of your Student Workbook) and develop guidelines for managing the process of gathering research information. You also need to identify and plan to acquire all resources necessary for supporting the project. Procedure From the case study provided you are required to complete the following steps: 1. Develop guidelines reflecting organisational policy and procedures to be used for conducting research. These guidelines for research must provide information and guidance under the following headings: OHS Data privacy Staff involvement KPIs Quality of data. 2. Meet with and commission a staff member (your assessor) to develop detailed work plans for how research will be undertaken, using the guidelines you have established. Make sure you agree on the format of the materials (print/electronic/oral, etc.) and a date for the provision of these materials. When the staff member returns the plans to you, you will need to review the plans to identify the following and providing a written Work Plan Summary (document) – the steps below should be the main sections of your summary: 1. Resources: Identify all required resources to support the implementation of the plans by: a. creating a list of all required resources b. completing the Resource requisition/acquisition form provided for each resource. 2. Consultants: Identify preferred consultants by: a. describing requirements for external consultants within the project plan b. detailing selection criteria for selection of external consultants c. identifying which consultant/s from the preapproved list is/are suitable. 3.  Providers and suppliers: Identify preferred providers and suppliers by: describing requirements for goods and services within the project plan detailing selection criteria for selection of providers and suppliers identifying which providers and suppliers from the preapproved list is/are suitable. Adjustment for distance-based learners: No variation of the task is required. Specifications You must provide: A written Organisational Guidelines for Conducting Research (Step 1) A brief written summary of your meeting with the staff member you commissioned for research (Step 2) A written Work Plan Summary (Steps 3-5) with completed acquisition forms. Your assessor will be looking for: Evidence that you have examined the case study and reviewed organisational requirements to develop market research plans. Distance-based learners: Complete assessment as per instructions, except the meeting with your staff member (the assessor) will be via phone or Skype or other live telephone or video medium. Case study Your are the marketing manager for a 15 store chain of homeware stores in Brisbane called Houzit. The stores specialise in bathroom fittings, bedroom fittings, mirrors and decorative items. As part of the strategic plans of the business, the board want to broaden the store offer by including lighting fixtures in the assortment mix. The board identified the need to carry out market research to determine the market feasibility of adding the lighting fixtures category to Houzit’s assortment. The board have requested that this work be undertaken by a specialist market research firm with extensive knowledge of the target market and who can undertake a wide variety of research methods and complete the process in a timely manner. The CEO has asked you to manage the entire market research process for the board. You are asked to liaise with the general manager of store operations and the group buying manager. Initially you are required to develop the guidelines for conducting the market research which must adhere with Houzit’s policy and procedures. The scope of research to be undertaken encompasses the greater Brisbane area. The CEO explained that the market  research report together with your summary must be ready to be presented to the board in 8 weeks time. You have been allocated a budget for the project of $15,000 to cover external consultants and associated external material costs. You are required to stay within this budget. Houzit’s policy and procedures requires that you submit a Resource Usage application for all resources required in the project both internal and external. Your marketing team consists of Tony (search engine optimisation and website maintenance), Marie (advertising and public relations) and Joanne an administration officer. You have asked Tony to take responsibility for the operational aspects of the project and estimate that it will take up 50% of his time over the next 11 weeks. Joanne will also be involved for about 20% of her time in attending to administration matters. You estimate that you will need to allocate 30% of your time to manage the overall project. According to Houzit’s policy and procedures the following detailed Work Plan Summary needs to be undertaken: Definition/scope phase Define research objectives Define research requirements Determine in-house resource Compile a list of preferred consultants/suppliers. Consultant/supplier selection phase Define consultant/supplier selection criteria Develop consultant/supplier selection questionnaire Develop Statement of Work Evaluate proposals Select consultant/supplier. Research phase Monitor milestone achievements Consultant/supplier performance management. Reporting phase Review Market Research report with stakeholders Prepare summary report. The CEO meets with you and you and Tony to discuss the plans. The CEO explained that it is Houzit’s policy to always engage external consultants when deciding on major category changes because it provided some objectivity  to the decision making process. The three preferred consultants are: 1. Acworth Accounting: 27 Pitt Street, Hawthorne QLD, who prepared the business plan for Houzit but who don’t have specialist market research staff 2. Lombard Consulting: 78 Queen Street, Brisbane QLD, who are a local specialist market research firm based in Brisbane specializing in home accessory products and markets. 3. Holt & Burrows: 58 Lonsdale Street, Melbourne Vic, a national marketing firm based in Melbourne who consult on all issues relating to branding and marketing for all industries. They specialise in fashion, cosmetics and consumables. The CEO explained that there was extensive information available in the company archives concerning customer feedback and surveys that has been collected by the stores over the past few years. This could prove useful in the research. The CEO also explained that you would need to have a member from head office do the information extraction work and could take up to 20 hours to complete. The CEO would like to see a report that covered five main areas: 1. industry overview 2. target category and market 3. business environment 4. competitors 5. conclusion. Tony prepared a list of preferred suppliers together with the products and services that they supplied to help determine the materials needed in accordance with the CEO’s directive that it be a credible source, within the budget and easily accessible. These materials could be included in the project if required and it is within budget: Homeware Trade association has an Australian wide industry report for $1,000 Australian Bureau of Statistics has Census data for the target area the is mostly free but will costs about $250 in search fees IBIS market report covers each major market in Australia including the greater Brisbane area – $1,200 Australian Chamber of Commerce has Australia wide surveys on industries $1,450 Homeware Magazines and Publications is an international magazine covering innovations in home wares $250 per quarter Newspaper subscriptions covering local issues $100 per quarter. Resource usage application Resource description Resource quantity Internal or external External resource costs You and Tony meet with each of the consultants identified by the CEO and explain to the need to meet the time frame set by the board. You know that the Definition/Scope Phase together with the Consultant/Supplier Selection Phase will take 2 weeks. You also realise that you will need a week at the end to prepare your reports. Tony explains that there is an expectation that they will be able to complete the following tasks in the time frame allowed: Develop market research information needs questionnaire Document information needs Identify information to be gathered in research Identify source of information Identify research participant Identify research technique Identify timing requirements and budget Conduct research Primary Market Research including customer surveys, focus groups and interviews with Houzit staff/managers and customers. Secondary Market Research including the materials provided by Houzit. Document research findings Develop research report. A week and a half into the project you receive the following responses from the preferred consultants. Acworth Accounting quote: $11,500. Will need to engage external research staff. Will need ten weeks to complete the report. Cannot do focus groups. Lombards quote: $12,000. Have specialist staff available in the home-wares field. Can complete the work within eight weeks. Can apply all methods of research. Holt & Burrows quote: $14,500. Will send research staff from Melbourne. Can complete the work within eight weeks. Can apply all methods of research. TASK 2 Market research Performance objective In this assessment you are required to contract and manage an external consultant to complete research for your organisation, and monitor work activities in regard to the research project. Assessment description You need to meet with a consultant and complete a contract to secure their services for the required research activities. You also need to monitor, manage and report on work activities, to ensure that the research project remains in alignment with the research plan. Procedure From the case study provided you are required to complete the following steps: 3. With the supplied generic external consultants contract, you need to meet with the identified consultant (your assessor) from the case study and revise the contract to suit your requirements as the manager of the market research. 4. Using the supplied work activity information, develop weekly monitoring reports that: Progress of project: describes the progress of the market research project Adherence to plan: describes the adherence of work activities to the research plan Contractor performance: describes whether performance of external contractors is in line with expectations and contractual requirements. Specifications You must provide: A revised signed contract for the identified consultant (Step 1) A series of written Weekly Monitoring Reports (Step 2) Your assessor will be looking for: Evidence that you have examined the case study and have understood the requirements of contract research consultants for the organisation. Distance-based learners: Complete assessment as per instructions, except the meeting with the consultant (the assessor) will be via phone or Skype or other live telephone or video medium. Case study The CEO has decided to use Lombards Consulting to carry out the market  research work in relation to Houzit’s plan to add the lighting fittings category to the assortment offer. Working from head office as 12 Clarence street Hendra Queensland, you organise to have a contract drawn up that covers all the areas of agreement in relation to the work including milestones. The following activities occurred during the market research project. The phases Definition/Scope and Consultant/Supplier Selection were completed by the 2nd week of the project. 5% complete Develop market research information needs questionnaire – on time Document information needs – one week late – 10% complete Identify information to be gathered in research – one week late Identify source of information – one week late – 15% complete Consultant requests Houzit purchase all research materials – You approve everything except for the Australian Chambers of Commerce, Australia wide surveys costing $1,450 Identify research participant – on time Identify research technique – one week late Identify timing requirements and budget – two week late – 30% complete Consultant requests more time – You do not grant it. Primary Market Research including customer surveys, focus groups and interviews with Houzit staff/managers and customers. – Completed on time except for interviews with all Houzit managers and group buyer – 50% complete Consultant report difficulty working with store managers Secondary Market Research including the materials provided by Houzit.- Consultant requested internal customer data be taken off-site – You do not grant it – Completed on time – 70% complete Document research findings – on time Develop research report – two days late – 100% complete. TASK 3 Research project evaluation Performance objective This assessment task requires you to review the market research project and evaluate the findings that have been presented, as well as evaluating and  recommending improvements to the research approaches and processes used. Assessment description You need to develop a report describing and evaluating the research undertaken and the findings presented. As part of this report you need to review the project performance against the initial research project plan, and review the process for future improvements. Procedure From the case study provided you are required to prepare a final report on the market research process including information under the following headings: 1. Findings: A review of the research report provided to you by the consultant including: a brief summary of the report findings  a description of how you confirmed the validity of information and data included in the report a statement assessing the relevance and usefulness of findings against research objectives. 2. Performance: assess the project performance against the research plan. 3. Review: A review of the feedback provided to you from various stakeholders, and any changes to the process required by this feedback. Also review all of the monitoring reports and monitoring activities completed throughout the project (in AT2) and make recommendations for changes or improvements to the research process. With your completed report you also need to submit a revised set of research guidelines (from Assessment Task 1) incorporating the changes noted in your report for use in the next market research project. Adjustment for distance-based learners: No variation of the task is required. Specifications You must provide: A written Final Report (Steps 1-3) Written revised Research Guidelines for the organisation. Your assessor will be looking for: Evidence that you have examined the case study and have reviewed the market research process for the organisation. Distance-based learners: Complete assessment as per instructions. Case study You receive a market research report from Lombards Consulting (see following pages). You sent out the market research report as well as your variance summary of the marketing activities taken to key stakeholders and asked them to reply by email. Later, in discussion with the principals of Lombards Consulting, you are made aware of the location and availability of source data on which the report was based. These include the original responses to the customer surveys, taped interviews and focus groups (with signed participant consent forms) and notes taken during conversations with staff, with Houzit staff/managers and customers. Copies of secondary data was also available, crossed referenced and physically identified in the report and source document. Where possible Lombards Consulting used the scientific method of careful observation, formulation of hypotheses, prediction, and testing in their research. They also spoke of using multiple methods to ensure greater confidence in the findings. When asked about the lack of time spent with the Houzit managers, Lombards consulting spoke about the healthy scepticism they have built toward assumptions made by managers about how the markets work. They also said that the intellectual divergences between the mental styles of line managers and marketing researchers often got in the way of productive relationships. The marketing researcher’s report may seem abstract, complicated, and tentative, while the line manager wants concreteness, simplicity, and certainty. Lombards suggested they be involved in the earliest part of the planning process, in fact why not make them permanent feature in the marketing strategy team. Emails from stakeholders The general manager said in an email â€Å"I was disappointed that Lombards did not speak to the store managers more. They have real ‘day to day’ contact with customers and have much knowledge about what customers want. Perhaps next time they could be involved formally in the process† The group buying manager said in an email â€Å"The report confirms what we thought about the new category. I would have liked to see more opinion from the consultants describing what they believed that the business environment data meant in terms of the business opportunity.† The CEO said that the â€Å"feedback from the board was to pass on their congratulations to you on a job well done given  the short time frame.† You replied that a research of that magnitude would normally require a 12-14 week turn around. The CEO agreed.

Comparing Numeracy Theorists

There are several theorists that link to mathematical development; their views are very distinct as to how mathematical understanding develops. One theorist that is linked to this development is Jean Piaget, in his research he discovered that children’s thoughts develop through taking in information. His researches also lead him to believe that children learn in stages according to an estimated age range. These stages are as follows: * Sensori-Motor – age 0-2 years (using senses) Pre-Operational – age 2-7 years (using symbols and language) * Concrete Operational – age 7-12 years (logical thought) * Formal Operational – age 12+ years (abstract thought) He also devised the concept of schemas for children to develop, for example some children relate to the rotation schema where they learn by rotating things such as turning taps on and off, watching the wheels on toy cars and stirring water and other resources in a circular motion.Another example of a s chema is transporting, these children will enjoy moving object around the room in different ways for example moving blocks from one side of the room to the other in a bag. Another theorist linking to mathematical development is Jerome Bruner, he believed that children learned by doing and then reimagining what they have done by drawing, writing and copying symbols such as numbers.Bruner believed that children in stages, these stages are as follows: * Enactive – age 0-1 – learning through doing physical movements * Iconic – age 1-7 – developing mental images * Symbolic age 7+ using symbols such as language to transfer thoughts He believed that a child is prone to learning and there are certain procedures for the child to follow for cognitive process.

Petroleum And Oil Pricing Mechanism In Mauritius Finance Essay - Free Essay Example

Sample details Pages: 8 Words: 2458 Downloads: 6 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? This paper aims to evaluate the petroleum and oil pricing mechanism in Mauritius. In accordance to their oil pricing mechanisms, major Asian countries can be divided into two categories: that is, countries such as China, Taiwan, India etc where the pricing mechanism is regulated by the government and where oil prices are determined by the free market mechanism in countries such as Japan, South Korea, and so on. Mauritius petroleum pricing mechanism is controlled by the government. Don’t waste time! Our writers will create an original "Petroleum And Oil Pricing Mechanism In Mauritius Finance Essay" essay for you Create order [1] The rise in the oil prices is unaffected by the situation of the economy, which is still running at its sluggish speed. People are forced to accept the high oil prices due to its non-elastic relationship which might have caused another recession in the year 2010. The market could crash since oil prices are rising too fast for the economy to keep up with it. Hence, consumers find it hard to reconcile actual oil price movements on the world market with the domestic price changes. Methods to be used Data collection, presentation and analysis will be carried out through surveys, more specifically, Questionnaires through primary and secondary data. Projected Outcomes From the survey, it is expected to determine the percentage of the population who knows about the pricing mechanism in Mauritius. Also the approximate percentage of the population owning a vehicle will be known as well as monthly expenditure on diesel or petrol. Whether the population finds the prices of petroleum fair will be determined and also, their opinion and recommendations would be taken into account. Benefits of the Research The research will benefit the population at large by increasing their knowledge on the pricing mechanism and the government through better ways to control rising prices and for the economy. Table of Content Introduction ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦.. 1 Problem Statement ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ 2 Aims and Objectives ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢ à ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦. 3 Methodology ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ €šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦. 3 Data Collection Questionnaire Analysis Benefits of the research ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å ¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ 5 Time Plan ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦. 6 Gantt Chart Budget Analysis ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦Ã ƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ 6 References ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦. 7 Introduction Petroleum became important during the mid -1800s with the increased use of petroleum products such as kerosene for light. The industry soon started growing and the market was introduced with automobile and the internal combustion engine. Petroleum Exporting Countries Organisation (OPEC), a multinational organization has been established to co-ordinate the petroleum policies of its member and to provide the member states with technical and economic aid. [2] The price of petroleum as quoted in news generally refers to the spot price per barrel (159 liters) of either WTI/light crude as traded on the New York Mercantile Exchange (NYMEX) for delivery at Cushing, Oklahoma, or of Brent as traded on the Intercontinental Exchange (ICE, into which the International Petroleum Exchange has been incorporated) for delivery at SullomVoe. [3] The price of a barrel of oil is highly dependent on both its grade, determined by factors such as its specific gravity or API and its sulphur content, and its location. Other important benchmarks include Dubai, Tapis, and the OPEC basket. The Energy Information Administration(EIA) uses the imported refiner acquisition cost, the weighted average cost of all oil imported into the US, as its world oil price. Petroleum products demand has changed drastically in both quantitative and qualitative terms. Each and every second, prices for oil change as they are very volatile. Consumption of petroleum products depends a lot on global macroeconomic conditions and has a positive relationship with economic growth. Higher economic growth implies higher demand for petroleum products. High oil prices generally have a large negative impact on the global economic growth, according to the International Energy Agency. [4] In Mauritius, it is the State Trading Corporation (STC) that imports all of our requirements and hands them over to Oil companies, namely, Shell, Total, Chevron and Indian Oil, for storage and distribution. STC pays for the i mports and gets paid when it sells the products to the Oil companies. [5] STC shall operate a Price Stabilization Account for each product in order to shield the market from price fluctuations.Monthly price shocks on commodities crucial to the conduct of economic and social activities ought to be avoided if at all possible. They come in the way of longer-term planning of all economic activities as well as the family budget and therefore affect the country and all its citizens directly. [5] Since 2004, it was the Automatic Pricing Mechanism (APM) which decided the prices in Mauritius. However, numerous weaknesses of this mechanism were seen, creating conflicts between the public and the APM committee. Prices were increasing when it was not necessary, especially when the world market prices were going down and the trend was always price increase after price decrease and so on. Price decreases were falling by a very small percentage and were very rare. [5] To correct this impe rfection and the doubts of the public about an unfair pricing mechanism, the APM was replaced by the Petroleum Pricing Committee (PPC) whereby the committee will meet once every 4 months to monitor oil purchase and sale, to examine price trends around the world and then decide if prices need to be reviewed or not. [5] Market forces determine the price of petroleum products on the world market. The price at the pump is calculated by STC based on the purchase price, taxes and levies and the profit margins for distributors and retailers. The Petroleum Pricing Committee verifies and approves the processes in a very transparent manner and finally recommends to the Minister for the fixing of the new retail price. Gasoline and Gasoil are expensive even in oil producing countries because of the growing demand in emerging economies such as India and China. When compared to most countries in the world, Mauritius is said not to be that expensive despite the geographical remoteness and th e small size of the market. Problem Statement The concept of pricing mechanism of oil and petroleum has often been surrounded with confusion. It is important to understand what different prices really mean. It is necessary to analyse the process of convergence and understand what the spot price really means in the context of oil market, although the futures price often converges to the spot price. The Minister of Industry and Commerce, Showkutally Soodhun specifies that the committee will have full opportunity to check all the documents and the truthfulness of the figures and thus ensure that all parameters were taken into account by the previous committee of the APM, that the PPC will work in full transparency while publishing everything on the website of the State Trading Corporation. There will be full details of all elements that come into play in accounting for the fuel prices. However, most people in the country either do not have the required knowledge to use a computer, some do not have a computer at all, and oth ers do not have access to the internet. Many people do not know how the pricing mechanism works. Even if the PPC is said to work in transparency no detailed is made public about the formulae considered in pricing the petroleum products, no cashflows or financial statements are known, the public is not reassured about whether their money are rightly used. The middle class people cannot afford to pay high prices especially when their income is low with most of it going into the basic food necessities. This may create social problems like disputes in the family, domestic violence, increases in social vices like thefts. One important aspect is that other countries may have high taxes on their oil, but this is compensated by their high income and the high value of their currency. Our currency has a really low value, which is why we pay higher prices for petrol, during financial crisis and in periods of inflation. This may lead to economic problems in the near future with lower investm ents and hence slowing economic growth. Aims and Objectives The aim of this research paper is to decrease the difficulties faced by the population because of the rising prices of petrol and to understand the mismatch of supply and demand situation. A clearer pricing system is required and this study can also help in enhancing the performance of petroleum market in the country. Objective: To make the whole population aware of the petroleum and oil pricing mechanism To change the working principle of the petroleum pricing mechanism To provide alternatives to help decrease the effect of the high petrol price Methodology The target population for the study is the population at large, though higher emphasis is laid on the population owning a vehicle. Information sources can be divided into primary, secondary data and tertiary data. Primary data is original data that has been collected by a researcher. Data collected by others for their own purposes, but which can be used by a researcher for his or her different purposes is called secondary data. There are two different types of data that are likely to be collected: qualitative data, such as opinions, and quantitative data such as measurements. Qualitative data include verbal narrative pieces of data; quantitative data are anything that can be measured and expressed in numbers. Descriptive statistics and inferential statistics are contained in quantitative data. Descriptive statistics give the reader a picture of the data collected and used in the research project. Inferential statistics are the outcomes of statistical tests. From the dat a collected, deductions can be made. Also, hypotheses set and related findings can be tested.[6] Questionnaire is usually designed specifically for this study. A questionnaire yields many separate pieces of information, unlike a test, which yields only a total score, or an inventory, in which each item is interpreted as a part of a scale or group of items. Analysis usually consists of tabulation or cross-tabulation of responses to individual items. Direct contact with respondents in questionnaires is not possible or necessary. It is probably the single most widely-used data source. As many as half the research studies conducted, use a questionnaire as a part of the data collection process, have estimated some experts. For research to be carried out, informed and voluntary participation of individuals or communities is necessary. The participation should have informed consent as base; the greater the risk to participants, the greater is the need for it as it is essential to protect the participants, not the researchers and institutions. The sample size will consist of 50 of working and non-working people and the aim is to pick a representative sample free from bias. A Nonprobability (Convenience) sampling will be chosen which selects elements from assumptions regarding the population of interest, which forms the criteria for selection. Hence, because the selection of elements is nonrandom, nonprobability sampling does not allow the estimation of sampling errors. [7] Convenience sampling involves the sample being drawn from that part of the population which is close to hand. That is, a sample population selected because it is easily available and convenient. Also, snowballing method would be used to carry out the survey. Scientifically, it is impossible to have ideal samples; the best compromise is to include a sample with widest possible range of variation in the phenomena, settings, or people under study. [8] Data Collection A particular o bservation technique will be designed for the research topic, describing and discussing the aims of the survey, the nature of the survey (what/who/how/when will be questioned?) and the method of recording (e.g. field notes or using a structured observation schedule). A draft ethics protocol will also be provided on the informed consent of participants, their honesty, giving them the right to withdraw, maintaining confidentiality and protecting them from harm. The approval of ethics protocol should take the form of the document that will be issued to potential participants. Ethical provisions should be incorporated at the introduction part of the questionnaire form itself and can be submitted for approval. Questionnaire Analysis Each completed form will be numbered after having them back. Then the easy stuff will be sorted out first, i.e. frequencies will be available when counting the answers to closed-ended questions. According to the design of the questionnaire, the re spondents will have to the code by ticking the appropriate number which will then be entered into the spreadsheet. This is not a difficult process. Percentages can easily be obtained from the numbers (it shows what percentage of the respondents gave what particular answer). These figures will be used as analytical tools. It helps to make sure that the questionnaire can be done through computer analysis. Excel spreadsheets and MS Works produces a wide range of presentation such as graphs and chart and computations as well as carrying out some statistical operations for quantifiable data. Benefits of Research This research will be useful and helpful to many stakeholders in the country. First of all, the society at large would get to know and understand the procedure behind pricing petroleum and oil. The society benefits in the way that they will get value for money and would not be exploited into paying higher prices for the oil and petrol, in the end, they would have fairness and would know where, why and how their money are being spent. The government as well would benefit from this research since it would help the government officials to have a better idea about how to price the petroleum and oil so as to maximize the benefit of the public. Another benefit would be is that both parties (the government and the public) would know about the expectations of each other and hence would know how to better satisfy those expectations. Also, transport cost forms part of a large percentage in the budget for companies. Investors (both local and foreigners) would be more attracted to inv est in the country when the pricing mechanism is clear with lower prices. As a result, there would be more economic growth in the country, standard of living of the population would increase, and unemployment level may fall. The indirect benefits of this research would be decrease in prices of the commodities that the people consume since the reduced transportation cost would lead to lower cost of production. The society would benefit as they would have more income left, their savings in bank may increase, hence the bank would have more loans to give to investors. As a whole investment would increase leading to economic booms. Time plan A Gantt chart is a representation through graphs of the duration of tasks against the progression of time. It is a useful tool when planning and scheduling projects and helpful when monitoring a projects progress. There is a variety of Gantt charts namely the Basic Gantt, Multiple milestones, daily Gantt, Baseline Gantt, Timeline Gantt, Summary Gantt, Stoplight Gantt among others. [9] Summary Introduction Problem statement Aims and objective Methodology Benefits of research Budget analysis 25/03/11 27/03/11 28/03/11 30/03/11 31/03/11 01/04/11 Budget Analysis List of items Estimated cost (Rs) Printing 200 Travelling 325 Internet 600 Telephone bill 150 TOTAL 1275