The Importance of Financial Management to an Organisation - Free Essay Example

Sample details Pages: 6 Words: 1877 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? Credit control is the process of control over payments coming into and going out of the firm. It is mainly concerned with the firms and the firms debtors. Tight credit control is important if a firm wants to avoid cash flow problems (Garrison, Ray. Don’t waste time! Our writers will create an original "The Importance of Financial Management to an Organisation" essay for you Create order H., et al : 2009). According to(Kaplan, Robert. S., Bruns. W, 1987) Cash or finance is considered the life blood for any business. In the current competitive era Granting credit in order to win sales is a fact of life for every business, as is the likelihood that more than 50% of your credit customers will fail to pay on time. Sadly, no matter how good your product or service is and no matter how adapt you are at winning new customers and increasing sales, unless you can convert those sales into cash reasonably quickly, you wont remain in business for long. The solution to this problem is setting up a simple credit control system and injecting a little more discipline into the process of granting credit and recovering cash, your customers will start paying. If we look at the financial report of Wal-Mart, Current liabilities exceeded current assets at January 31, 2010, by $7.2 billion, an increase of $789 million from January 31, 2009. Our ratio of current assets to current liab ilities was 0.9 at January 31, 2010(financial report, 2010 p.10). According to the Wal-Mart officials it is the proof of efficient cash flow management but if we look at the industry average, it is clear that Wal-Marts working capital ratio is critical and they should maintain working capital ratio around 1. Furthermore, the increased provision for doubtful debts which was $298 million and $188 million at January 31, 2010 and 2009, respectively also shows the poor credit control management (five years financial report, 2010 p.17). 1.2 How a company can adjust its fixed and variable cost A fixed cost is that cost which does not vary with the level of activity within a specified range (Garrison, Ray. H., et al, 2009). A variable cost is that cost which varies with the level of activity within a specified range (Garrison, Ray. H., et al, 2009). There are number of ways by which a company can adjust its fixed and variable costs in economic downturns like reducing activity level, downsizing, and decrease in the level of borrowings or investments. Wal-Mart Stores Inc.  acquired a controlling interest in  Distribucion y Servicio DS SA, Chiles largest grocer, completing its biggest acquisition in Latin America on 23 January 2009, and other collaborations with China and Indian firms to open super markets in these particular countries, when Wal-Mart acquired DS, there was too much overstaffing and non-productive debt burden which was paid by Wal-Mart these activities shows the strong financial position of Wal-Mart (Bloomberg, 2009). Wal-Mart is als o reducing its fixed cost like interest by paying off the unproductive debts of DS but due to the new acquisition of DS the overall staff is increased and hence there is an increase in the administrative expenses and variable expenses like labour cost but by downsizing and training the staff these expenses are being removed gradually (five years financial report, 2010 p.40). Reasons For The Companies Need To Raise Finance 2.1 Debt Financing The act of a business raising  operating capital  or other  capital  by  borrowing, most often, this refers to the  issuance  of a  bond,  debenture, or other  debt security (Powell, Gary. N., 2005). Long Term Debt Financing  usually applies to assets your business is purchasing, such as equipment, buildings, land, or machinery. With long term debt financing, the scheduled repayment of the loan and the estimated useful life of the assets extends over more than one year (Sapp, Richard, David. C., Steven. R., 1990 ). Short Term Debt Financing  usually applies to money needed for the day-to-day operations of the business, such as purchasing inventory, supplies, or paying the wages of employees. Short term financing is referred to as an operating loan or short term loan because scheduled repayment takes place in less than one year. A line of credit is an example of short term debt financing (Sapp, Richard, David. C., Steven. R., 1990 ). Short-term borrowings of Wal-Mart consist of commercial paper and lines of credit. Short-term borrowings outstanding at January 31, 2010 and 2009 were $523 million and $1.5 billion, respectively. The company has certain lines of credit totalling $9.0 billion, most of which were undrawn as of January 31, 2010. Of the $9.0 billion in lines of credit, $8.6 billion is committed with 34 financial institutions(five years financial report, 2010 p.24)In long term debts bonds and other certificates consist of $42216 million in 2010 while it was $40960 in 2009 (five years financial report, 2010 p.18) 2.2. Equity financing Equity finance is a way of raising share capital from external investors in return for handing over a share of the business. This may take many forms, including a share of future profits, but is most frequently associated with sharing the ownership of the business to some degree (Sapp, Richard, David. C., Steven. R.,1990 ). A company can raise finance in three different ways by equity financing it can either retain the profits in the business instead of distributing them back to shareholders, it can sell new shares to existing stockholders (rights issue) or it can sell new shares to general public and investing institutions. Wal-Mart has equity portfolio which consists of preferred stock, common stock, retained earnings and premium on the issue of shares which was $70,749 million in 2010 and $ 65,285 million in 2009 (five years financial report, 2010 p.18) As the Wal-Mart is enjoying the good financial position so it can easily increase its capital by seasonal and unseasonal public offerings Options for Companies to invest 3.1 Consideration of a company before making an investment Investors must overcome two considerations before they invest. First, the investor must be convinced their investment will be safe and that they will eventually recover their capital. Second, the investor wants to know how and whether the return assumptions are reasonable, achievable, and likely( KAPLAN, ROBERT. S., BRUNS. W., 1987). Safety is even more important than ever with the events of recent years so safety is strongly on everyones minds. Overcoming the investment safety issues implies having a very detailed plan that walks the investor through each conceivable downside event and shows clearly and simply how potential pitfalls are overcome. The principals plan should anticipate market devaluation, increased costs, liability issues, unfriendly rate environments, potential inflation, management issues, weaker revenues, weaker revenue growth, vacancy issues, maintenance issues, and facility failures to name a few (Kaplan, Robert. S., Bruns. W., 1987). Apart from these financ ial factors there are several non-financial factors that should be considered some of these are climate issues, staff motivation, customer satisfaction, manpower availability, government regulation etc. Wall-mart must look for opening inaugurating its business in Asia especially in south East Asia as well because the economic conditions of these countries suits Wall-mart and will be proved profitable as the world economy is being transferred to these countries. Wal-Mart already has made collaborations with Chinese and Indian companies as investments in these countries (Bloomberg, 2009) 3.2 Payback ratio The  payback period  is the time necessary to recover the initial outlay on an  investment. Where annual  cash  flows are identical, the  payback period  is equal to:  investment/annual cash  flow.  Payback period  criterion emphasises the  liquidity  of an  investment, but not its value. Payback period  is also called  payback ratio (Garrison, Ray. H., et al : 2009). 3.3 The Pay-out Ratio The dividend pay-out ratio is calculated by dividing the dividend paid by the net income per share. Dividend Paid/Net Income per Share = Dividend Pay-out Ratio 2009= 0.95/3.39= 0.2808 or 28.08% 2010= 1.09/3.71=0.2938 or 29.38% Despite of increase in the cost of production there is increase in the net income available for shareholders, so they have decided to pay more dividend as compare to the previous year 2009(five years financial report, 2010 p.18). Importance of Preparing Reports for Companys Finance 4.1. Overview of income statement and balance sheet 4.1.1 Operating Expenses In fiscal 2010, operating expenses increased 2.7% when compared to fiscal 2009, while net sales increased 1.0% over the same period. Operating expenses grew at a faster rate than net sales due to higher health benefit costs, restructuring charges and higher advertising expenses (five years financial report, 2010 p.5). 4.1.2 Operating Income For fiscal 2010, Wal-Mart met objective of growing operating income at a faster rate than net sales. Operating income increased by 5.1% when compared to fiscal 2009, while net sales increased by 1.0% over the same period (five years financial report, 2010 p.5). 4.1.3 Free Cash Flow Free cash flow is defined as net cash provided by operating activities of continuing operations in a period minus payments for property and equipment made in that period. Wal-Mart generated positive free cash flow of $14.1 billion, $11.6 billion and $5.7 billion for the years ended January 31, 2010, 2009 and 2008, respectively. The increase in free cash flow is primarily the result of improved operating results and inventory management (five years financial report, 2010 p.5). Gross profit, as a percentage of net sales, (gross profit margin) was 24.8%, 24.2% and 24.0% in fiscal 2010, 2009 and 2008, respectively. Wal-Mart U.S. and International segment sales yield higher gross profit margins than Sams Club segment (five years financial report, 2010 p.8). Effective income tax rate was 32.4% for fiscal year 2010 and 34.2% for fiscal years 2009 and 2008. The fiscal 2010 effective tax rate decreased compared to fiscal 2009 due to $372 million in net tax benefits that primarily resu lted from the repatriation of certain non-U.S. earnings that increased utilization of U.S. foreign tax credits (five years financial report, 2010 p.8). There is 0.3% increase in the percentage of operating income to net sales as compare to the previous year. 4.1.4 Common Stock Dividends Wal-Mart paid dividends of $1.09 per share in fiscal 2010, representing a 15% increase over fiscal 2009. The fiscal 2009 dividend of $0.95 per share represented an 8% increase over fiscal 2008 (five years financial report, 2010 p.9). There is 1.26% decrease in the current assets as per last year 2009, but 4.45% increase in total assets shows that company is focusing on capital expenditures rather than revenue expenditures which will ultimately help in improving the stability of the company. The current liabilities are increased this year which shows the better credit policies. 4.2 Advantage of cash flow statement rather than balance sheet Valuation companies prefer to analyse the cash flow statement as compare to the balance sheet because the balance sheet basically shows the assets, liabilities and equity on a particular time but does not show the cash inflow or out flow of the company which is more crucial for valuation because it clears that how much cash inflow will be at the time of debt payment for so that the company will pay the debt. Only the assets and liabilities do not tell the credibility of a company to pay and handle the debt. That is the reason companies prefer cash flow statements rather than the balance sheet (Kaplan, Robert. S., Bruns. W., 1987). Conclusion As we have gone through the financial report of Wal-Mart and we have analysed different ratios and statements it seems that despite the economic downturn Wal-Mart is still carrying on its way to progress and expansion. Although Wal-Mart has acquired the DS which have a huge burden of debts and inefficient employees and there was huge cash outflow but still this year its operating income is increased by 0.3 % which is the proof of efficient credit and finance policies. But the slight unfavourable change in the working capital and debtors and creditors turnover ratio still indicates the room for improvement. Wal-Mart should review its credit control policies and make necessary arrangements to overcome this weakness.

The Humanity of Achilles Essay - 922 Words

As George Eliot once said, â€Å"It is a narrow mind which cannot look at a subject from various points of view.† Whether viewing a piece of artwork or another person, there are often many points of view to evaluate in order to find the true core of the subject. In great works of literature, authors often create complex and dynamic characters to add depth and meaning into the story. In the Iliad, Homer beautifully depicts the multifaceted character of Achilles as an epic hero. As readers look closely at Achilles, he reveals different sides of himself as the epic poem develops. Representing the struggle between his dominant, selfish, and Dionysian nature as an epic hero and his hidden empathetic Apollonian core, Achilles reveals the mythos of†¦show more content†¦The taking of Bryseis angered Achilles because she represented his success as a leader. Achilles also consistently shows another Dionysian trait throughout the Iliad: the seeking of revenge. In the Iliad Pat roclus, a trusted friend of Achilles goes to fight against Hector while Achilles is away from the war. Ultimately, Patroclus is murdered by Hector on the battlefield and Achilles greatly mourns him (Homer 16.77-867). Achilles was deeply saddened by the death of his beloved comrade and â€Å"grief took hold of [him]† (Hamilton 197). Representing Sigmund Freud’s principle of homo lomini lupus or man is a wolf to man, Achilles wants to avenge his friend’s life by murdering the one who murdered him. Mankind has the tendency to do unto others as others have done unto them. Hector killed Patroclus but Achilles is blind to his motives as to why. He doesn’t see that Hector killed Patroclus in self-defense during a battle but he only views Hector as a murderer. The blindness with which Achilles acts shows an immense force working in Achilles. According to Simone Weil force is â€Å"that x that turns anybody who is subjected to it into a thing† (Benfey,82). In this case the force that acts on Achilles is the degrading force of anger due to war. The war has stripped Achilles of his humanity and ability to act rationally. If Achilles continues to behave primarily in a Dionysian way, he will become the cause of his own ultimate detriment.Show MoreRelatedAchilles Vs. Hector : Achilles And Hector883 Words   |  4 Pagesdescribes majority of the war that went on between the Greek and Trojan, which included the warriors Achilles and Hector. Throughout the poem the similarities and the differences became evident between the main characters, Achilles and Hector. Although Achilles and Hector are considered two different types of heroes, they had their similarities as much as they had their differences. Both Achilles and Hector were the greatest warriors of their armies, and both are very stubborn when it comes to theirRead MoreHuman Morality In Athenians And Achilles1335 Words   |  6 Pagesmorality that plague both the Athenians and Achille s. During crises, they lose their humanity and compassion for others. Humanity is complex, and one aspect of it is the human capacity to empathize with other creatures. Not being able to empathize with others is a sign of a lack of humanity, and in the modern world is associated, when dramatic enough, with psychopathy. This can be applied to the mental states of the people in these works as well. Achilles loses his connection with his people and strugglesRead MoreEssay On Simile In The Iliad790 Words   |  4 Pagesprotagonist: Achilles. Achilles is a complex and dynamic character. Despite his almost superhuman strength defining his identity, he rejects the heroic code, and his fated downfall in The Iliad’s Book 24 ultimately defines him. The Homeric simile symbolizes Achilles’ strength in battle, juxtaposes him with other characters of the poem, and emphasizes his rage and decline in humanity throughout The Iliad. The Homeric simile shows both Achilles’ agility in battle and his rage. 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Comparison Between Hinduism and Budhism Free Essays

Comparison of Two types of Pagan Religion i. e. Hinduism and Buddhism South Asian people have a well-defined amalgam of Abrahamic and Pagan religions. We will write a custom essay sample on Comparison Between Hinduism and Budhism or any similar topic only for you Order Now Two of the Pagan religions of this region are well-known in this region because their birth place South Asia. These two religions are â€Å"Hinduism† and â€Å"Buddhism†. Hinduism refers to the principal and most ancient religious tradition of India: in it the lives of the believers are governed by the doctrines of â€Å"Dharma† or universal law, â€Å"Karma† or the cumulative effects of personal actions, and â€Å"Samsara† or the cycle of rebirth, liberation from which is the first goal of life; [similarly] Buddhism is a religion and philosophic system, founded in India in the 6th cent. By Buddha: it teaches the right thinking and self-denial will enable the soul to reach Nirvana, a divine state of release from misdirected desire† (â€Å"Dictionary definitions you can understand-†). Although the birth place of both religions is South Asia and thus they stem from a similar Philosophy and culture, as S. Radhakrishnan says â€Å"Buddhism, in its origin at least is an offshoot of Hinduism† (qtd. In  Ã¢â‚¬Å"Buddhism Hinduism, Comparative Study of Buddhism Hinduism, Compare Contrast Buddhism Hinduism. â€Å"); yet there is also a prominent difference in the major ideational elements of Doctrine of both; which includes â€Å"Concept of God†, â€Å"Reincarnation† and â€Å"Caste system†. In each and every religion of the World, the word â€Å"God† generally refers to designate a supreme power, who is the ultimate creator of the entire universe. In Hinduism there is also such definition for God. â€Å"Neither the multitude of gods nor great sages know my origin, for I am the source of all the gods and great sages. A mortal who knows me as the unborn, beginning-less great lord of the world is freed from all delusion and all evils† (â€Å"Bhagavad Gita: Chapter 2 – Verses 9 10. †). But the thorough study of Hinduism reveals it a polytheistic religion; indeed most of Hindus attest it by their worship of God. As they consider the many of living and non-living things to be divine and sacred. For example they consider the trees, the sun, the moon, the monkey, the snake and the human beings as manifestations of God. While in Buddhism, the designation of God is same as in Hinduism. As Gospel of Buddha says â€Å"There is, O monks, an unborn, unoriginated, uncreated, and unformed. Were there not, O monks, this unborn, unoriginated, uncreated, and unformed, there would be no escape from the world of the born, originated, created, formed. Since, O monks, there is an unborn, unoriginated, uncreated, and unformed, therefore is there an escape from the world of the born, originated, created, formed† (â€Å"The Gospel of Buddha†). But there appears difference in the belief in gods and godly manifestations of both religions; because in Buddhism there is no such entailment of godly figures in the original Buddhist doctrine, except in few sects. â€Å"Buddha was once asked by a disciple whether God exists. He refused to reply. When pressed, he said that if you are suffering from a stomach ache would you concentrate on relieving the pain or studying the prescription of the physician. â€Å"It is not my business or yours to find out whether there is God – our business is to remove the sufferings of the world† (â€Å"Concept of god in Buddhism†). Doctrine of Buddhism says that all these are the ways, by which people soothe themselves. â€Å"Gripped by fear, men go to the sacred mountains, sacred grooves, sacred trees and shrines† (â€Å"The Dhammapada 188†). But also Buddhists do not condemn the concept of gods and also they do not regard the believers of gods as sinners. Hinduism is considered as the complex mixture of religious philosophies and schools; but the soul of all this is â€Å"Reincarnation† i. e. the journey of the â€Å"soul† (atman) from one body to another body(cycle of birth and death). This cycle of birth and death (also known as â€Å"Samsara†) is summarized in the following verse of The Bhagavad Gita: â€Å"Just as a man discards worn out clothes and puts on new clothes, the soul discards worn out bodies and wears new ones. † (Chapter 2-Verse 22). As we profoundly glance over both the religions: â€Å"Buddhism shares some concepts of Reincarnation with Hinduism but on the major there appear differences. For example Theravada Buddhism emphasizes in the doctrine of â€Å"Anatta†, or no soul, which states there is no enduring entity that persists from one life to the next. While in Hinduism, â€Å"Karma† determines the circumstances of subsequent lives, so there is continuity between personalities but not persistence of identity. For this reason, Thervada Buddhist prefer the term â€Å"Rebirth† to â€Å"Reincarnation†. That is why in Buddhism, the law of â€Å"Karma† is viewed as naturalistic, akin to the laws of physics. Thus Buddhists do not consider the circumstances of â€Å"Rebirth† as rewards or punishment handed out by a controlling God, they simply regard it the natural result of various good and bad deeds. Thus contrary to the infinite cycle of â€Å"Reincarnation†: â€Å"Rebirth† inevitably involves suffering and ends when all carvings are lost and â€Å"Nirvana† is achieved† (â€Å"Does Hinduism Believe In Reincarnation. â€Å"). So Buddhists lead their lives in a way (negating the concept of infinite cycle of births and deaths), which leads them to their ultimate destination i. e. Nirvana Some of the teachings of every religion of the world provide the guidelines in order to secure the basic social rights of the people. But the there are some religion in which â€Å"Caste system† has deprived the people from their basic social rights. â€Å"During the Buddha’s time â€Å"Brahmanism† was the predominant religion in India, in which all humans were divided into four castes i. e priests, warriors, traders and laborers. Later on this â€Å"Caste system† was absorbed into â€Å"Hinduism†, given religious legitimacy and sanction and has continued to function right up till the present. This has made the Social contact between each cast minimal and has provided the lower ones with the less opportunities, the less freedom and the less rights. Outside the caste system there are the outcast’s people, who are considered so impure that they are hardly counted as humans. On the other hand Buddha himself was born into the warrior caste, but he severely criticized the caste system. He ridiculed the priests’ claims to be superior, he criticized the theological basis of the system and he welcomed into the  Sangha  people of all castes, including outcasts. His most famous saying on the subject is: â€Å"Birth does not make one a priest or an outcaste. Behavior makes one either a priest or an outcaste†Ã¢â‚¬  (â€Å"Buddhist Studies: Caste System. â€Å"). In summary to the religious beliefs, philosophies and social teachings; Buddhism provides an ultimate concept for an ultimate Power, similarly it gives the fascinating hope for ultimate destination â€Å"Nirvana† and also it maps a just society on the golden rules of equity. While Hinduism limits the ultimate concept of God to worldly figures, similarly the concept of â€Å"Reincarnation†, negates the ultimate destination; which indirectly, is the negation of God and also the caste system in it makes the life of its follower’s worldly punishment, because deprivation of basic social rights leads the people to inferiority complex. Bhagavad Gita: Chapter 2 – Verses 9,10 22†³Ã‚  Bamboo Wisdom. Web. 19 Oct. 2011. http://bamboowisdom. blogspot. com   Ã¢â‚¬Å"Buddhism Hinduism, Comparative Study of Buddhism Hinduism,Compare Contrast Buddhism Hinduism. †Ã‚  Buddhist Tourism,Travel Buddhist Sites,Buddhist Tourism in India, Japan, Tibet, China. Web. 1 9 Oct. 2011. http://www. buddhist-tourism. com/buddhism/religion/buddhism-hinduism. html â€Å"Buddhist Studies: Caste System. †Ã‚  BuddhaNet – Worldwide Buddhist Information and Education Network. Web. 19 Oct. 2011. http://www. buddhanet. net/e-learning/dharmadata/fdd53. htm. Does Hinduism Believe In Reincarnation? †Ã‚  Personal Development on a Deeper Level – Tyler Hardy. Web. 19 Oct. 2011. http://www. tylerjhardy. com/tag/does-hinduism-believe-in-reincarnation. â€Å"Reincarnation – World, Body, Life, History, Beliefs, Time, Person, Human, Hinduism, Buddhism, Shiite Muslims, Judaism and Christianity, Ancient Greece, West Africa. â€Å"Encyclopedia of Death and Dying. Web. 19 Oct. 2011. http://www. deathreference. com/Py-Se/Reincarnation. html. â€Å"South Asia – Definition | WordIQ. com. †Ã‚  Dictionary, Encyclopedia and Thesaurus – WordIQ Dictionary. Web. 19 Oct. 2011. â€Å"The Dhammapada: Verses and Stories.   Tipitak a Network: Bringing Dhamma Studies to You. Web. 19 Oct. 2011. http://www. tipitaka. net/tipitaka/dhp/. â€Å"The Gospel of Buddha. †Ã‚  The Reluctant Messenger of Science and Religion: Science and the World’s Religions Are Pieces to a Puzzle That Need Each Other to Form a Complete Picture. Web. 19 Oct. 2011. ;http://reluctant-messenger. com/gospel_buddha/chapter_20. htm;. â€Å" Concept of god in Buddhism-by Dr. Zakir Naik† Dictionary Definitions You Can Understand – YourDictionary. Web. 19 Oct. 2011. ;http://www. yourdictionary. com;. http://saif_w. tripod. com/interfaith/general/god/inbuddhism. htm How to cite Comparison Between Hinduism and Budhism, Papers

Learning Secondary School Students In India -Myassignmenthelp.Com

Question: Discuss About The Learning Secondary School Students In India? Answer: Introducation The second marketing strategy assessment of TOTO shows an outstanding performance in terms of marketing strategy. In this case, the elements of strategizing include exceptional and consistent performance; as well as effectiveness of its products. Such reasons explain why TOTOs brand being successful in the international market. However, regarding the Australian market, the fall of revenue by about 3.9% would reduce growth of plumbing industries (CIRT, 2017). As aforementioned, such trend has been realized for the past five years. On the contrary, there has been a steady growth of the construction market. Great developments have been realized in the suburbs. A steady supply of multi-unit apartments, living houses, and townhouses has been realized in developing regions as well as rural areas. Such increase in housing has led to increase in plumbing needs. The growth of construction industry together with the involvement of industries like TOTO the involvement is predicted to grow at 0. 9%. Annual revenue is also required to increase to $5.1 billion (CIRT, 2017). Extended Marketing Mix Strategies As mentioned before, this brand will rely on both construction and plumbing industries. Owing to the fact that the construction market has experienced a steady growth, the market would be lucrative for TOTO. Such is due to the fact that the need for housing is increasing leading to the need for products in line with TOTOs. Also, because changes may occur due to shift in customers needs, the demand for products is kept regular. Toto will, thus target plumbing and construction companies in Australia for survival. Central to the reason behind venturing in Australia is data showing the growth in housing industry in Australia (Managerial Accounting, 2017). Source: Graciousness Survey 2017 - Singapore Kindness Movement. From the Data above, we can establish the target market demand. In relation to the brand, market size is likely to hit $74.65b by 2020. On the same note, a growth of about 11.7% is predicted by 2020. As mentioned before, the factor to accelerate such growth is demand for housing in the rural and urban areas. For any kind of business, such growth would ensure a long term success (Hamel, 2017). Customer Development Entry into the Australian market would be difficult if categorization and identification of clients is not appropriately done. In this case, the identified clients are the plumbers and constructors. Such customers are the stepping stone that TOTO could use to gauge feedback. Plumbing and construction companies are identified because they would require the products manufactured by TOTO in their line of duty. However, the reduction in growth of plumbing industry that is currently experienced is likely to reduce the supply of products. TOTO will ensure that it establishes strong guidelines which would lead to increase in integrity, honesty, and transparency between it and its clients to realize the intended growth. The organization should ensure that: Honesty is the only policy. This would be achieved by ensuring that its agents and workers practice equality and fairness. Consistency is the way to success. By chanting the ABC mantra; which means "Always Be Closing," workers will understand that consistency leads to customer satisfaction. Workers are committed to their work. Such is because without a staff that is committed and qualified, the organization is bound to fail. TOTO will thus, require to work twenty-four seven to ensure they release products of the best quality to the market. To ensure that such is achieved, the business organization will require a proper team. Such a team would ensure that the organizations goals are achieved. The staff will have to be taught on commitment to production to boost the brand in the new market environment (Hartman, 2017). Competition and Positioning For the purpose of curbing issues related to target demand, the organization should use local agents to identify construction firms. Such individuals are required to be effective enough to ensure that a constant supply to customers is achieved. Therefore, TOTO has to re-evaluate the cost and essence of adjusting the number of agents as a way of increasing effectiveness. A consultation team will also be required. Such a team will be responsible for the firms economic analysis. For the record, this team will be responsible for ensuring the organizations financial discipline is maintained through constant supply of products. From market research, it is clear that self-concept is important for marketing activities. There are several aspects of self-concept which would ensure that the organization achieves a market breakthrough. These aspects are: Attitudes Emotions Principles Getting into the target market. To ensure that the products manufactured would touch the heart of local clients, the organization would require determine if such products would be bought or not (Hartman, 2017). With self-concept, TOTO would be able to determine if the clients believe in the products quality and would use the same. With the presence of the consultation team, the organization would be able to carry out research activities regarding the manner in which clients perceive the products against their effectiveness which would ensure constant production (Smithson, 2017). Such a move would ensure that the organization maintains potential clients. However, care is recommended due to the fragility of customer concepts of quality service. Equal and equitable treatment might, at times, lead to dissatisfaction of some clients. Considering patterns of rational behavior, such a prospect would consider standardization and attitude measurements. Such is to ensure that products produced by TOTO meet international and local Council standards (Hockett, 2017). This marketing strategy is aimed at capturing consumer behaviors influential factors. Such factors include emotion, cognitive, environmental, and cultural concerns. Strategies of marketing ensure that clients create a structure that is cognitive and concrete from the products environment concerning the offered products (Simister, 2011). Presence of competitors will also help TOTO identify ideas that are innovative (Kader, 2017). Regarding competitor companies in the market, most of them are local. As a result, diversification is not realized by the local clients. Annual reports, in the past few years have shown that the organization has massively grown. Such can be considered in the case of product sales. The organization has also acquired approximately thirty-five percent shares. For reasons such as such, TOTO has identified Australia as the most appropriate target. On the contrary, like most targets, Australia has its own barriers that hinder market entry. One of the many reasons is the fact that the plumbing industry is unstable and might hinder production. ON the other hand, the organization intends to work with local suppliers. By so doing, local competition would be curbed (Kamboj and Singh, 2015). Market Mix and Segmentation The intended Australian market is segmented into three areas. Such areas are: Geographic Demographic Behavioral Basis City Plumbing Growing Opportunity Large and Long-term projects Geographical -Urban areas of Australia -Melbourne, Sydney, Canberra, Hobart, CBD areas -Suburban areas of Australia -Dandenong, Frankston, Paramatta, Hornsby -Developing Regions -Ballarat, Geelong, Tasmania Suburbs Demographic -Small family size usually 2 to 4 family members -Single house owners -Small and beautiful -Applicants working in the city and mainly professionals who are employed -Volume residential home builders -Normal family size usually 3 and above -House builders who rent their property -Applicants of which many are employed and some are unemployed like the old age people -Custom home builders -People with average family size -Farm owners and builders -Basic need workers usually self employed -Custom home builders Behavioural -Housing industry changes rapidly with fast going development works -More renovation and house customisation -High loyalty -High quality service and product life in effective price -Sober design and living finishes -New market emerging -Few renovations -High expectations -Superior quality product in effective price -Expect something unique -Expensive tastes -Housing market in these regions growing with slow pace -Accurate quality -Price to product definers -High loyalty and service quality -Old is gold BCG Matrix This BCG matrix will assess TOTOs strengths regarding products against the future and history of local organizations (Monash in this case). We shall use the shares of the two companies against their growth as shown in the chat below. BCG Matrix TOTO Monash Relative Market Share 100 56 Market Growth 30 46 Competitor Size 800 700 Share 32% 18% Rest of Market 68% 82% Market mix is about having the correct geographical setting, right products, or proper place, time, and price. Product Australian plumbing and construction companies need quality products. To ensure that such demand is met, the organization needs to meet such a requirement to achieve market penetration. TOTOs marketers will have to create a product mix that would ensure that the requirements of Australian customers are met (Kampung, 2017). Price The most important aspect of a market mix is product price. The price set by the organization should ensure that it makes profits and also survives in the new market. Place The definition of a good product mix is determined by distribution. By situating itself in Australia, the organization is positioning itself in the required target market. The marketers will thus, have to understand the location of the market within the target area (Kaplan, 2017). Promotion Because the promotion of products is vital, marketers need to use the same ideology to boost brand recognition and sales. Conclusion From both assessments, it is clear that the brand will rely on both construction and plumbing industries. However, because the construction market has experienced a steady growth, the market would be lucrative for TOTO (Lombardo, 2017). On the same note, since changes may occur due to shift in customers needs, the demand for products is kept regular. The organization will, thus target plumbing and construction companies in Australia for survival. Contrarily, self-concept would help the organization determine if the clients believe in the products quality and would use the same. Having a consultation team would enable the organization to carry out research activities regarding the manner in which clients perceive the products against their effectiveness which would ensure constant production. Such would ensure that TOTO maintains potential clients. However, equal and equitable treatment might, at times, lead to dissatisfaction of some clients. Regarding patterns of rational behavior, such a prospect would consider standardization and attitude measurements. Such is to ensure that products produced by TOTO meet international and local Council standards (Shah, 2017). Reference CIRT (2017) Components of a Research Paper - Center for Innovation in Research and Teaching. [online] Cirt.gcu.edu. Available at: https://cirt.gcu.edu/research/developmentresources/tutorials/researchpaper [Accessed 25 January 2018] Graciousness Survey (2017) Graciousness Survey 2017 - Singapore Kindness Movement. [online] Singapore Kindness Movement. 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