Othello The Greatest Tragedy Essay Research Paper free essay sample

Othello, The Greatest Tragedy Essay, Research Paper A Shakespearian calamity is one that encompasses many different elements. Shakespeare presents all of these elements stunningly in Othello. For a calamity to happen there are five conditions. The supporter, Othello in this instance, must see a decease or a entire loss of ranking in society. The audience must besides be captured by the histrions and experience some kind of connexion to them. This is known as katharsis. In Shakespearian calamities the supporter ever has a character defect or a tragic defect. This tragic defect along with pride will do the supporter to do an mistake in opinion taking him to his ruin and eventual decease. These two elements are called hubris and tragic flaw. The integrities of clip, infinite, and action must besides be followed. This means that the drama must take topographic point in a really short period of clip, occur in one general country, and follow one chief character throughout the drama. We will write a custom essay sample on Othello The Greatest Tragedy Essay Research Paper or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Shakespeare orates for us a tragic happening in the life of a adult male who one time had it wholly, throws it all off in a tantrum of covetous fury. The ruin of the cardinal character is the chief construct of the calamity. Without the chief character s ruin there is no ground for the reader to experience commiseration, hence, no calamity. The ruin of the supporter in Shakespearian calamities ever originates from their tragic defect. Othello s tragic defect is his green-eyed monster, which Iago invariably reminds him approximately. This is first brought approximately in act III, scene 3 when Iago asks Othello if he has Seen a hankie spotted with strawberries did I today see Cassio pass over his face fungus with ( III, 3, 431-432/435-436 ) . At this point Othello is covetous at Cassio for holding won the bosom of Desdemona and earned the hankie. Upon hearing this Othello flies into a huffy tantrum by stating O, that the slave had forty 1000 lives! ( III, 3, 439 ) . By his jealousy Othello makes himself really prone to many onslaughts on him by Iago. Catharsis is the portion of the drama that moves the audience and efforts to set them in the histrion s places. Shakspere does this by assailing the issue of love. It is a really huffy and emotional topic. Anyone who has of all time fallen in love can associate to Othello and Desdemona. They are viewed as the perfect newly-weds who have each other as regards. Desdemona shows us this by protesting to the Duke and her male parent that she saw Othello s countenance in his head, And to his award and his valorous parts Did I my psyche and lucks consecrate ( I, 3, 247-249 ) . The love between her and Othello is one of great passion and interrupting barriers. They were many old ages apart, came from different races, and were different colourss of tegument, something that was unheard of in their clip. Obstacles such as these, even in our twenty-four hours, are really hard to get the better of. When reading or watching Othello being performed one can non assist but to experience enviousness f or the love they have. In this calamity, katharsis nowadayss something the audience can non avoid. Hubris and Hamartia are two constituents of a Shakespearian calamity that are really much intertwined because of their footing on pride. Hubris is when the supporter is consumed with pride and believes that destiny can be beaten. Evidence of Othello s pride is based on the idea, No 1 messes around with Othello! This becomes his eventual ruin. The reader remembers in act III, scene 3 when Iago had planted false grounds of Desdemona s infidelity ; Othello reacted in a really unagitated manner, largely in incredulity. In act IV, scene 1 when Iago brings more grounds of Desdemona s unfaithfulness Othello reacts in a really different and violent manner. Let her decompose, and perish, and be damned tonight ; for she shall non populate ( IV, 1, 183-184 ) . This statement stems from Othello s pride in being a adult male of high standing who will non be cheated on. Hamartia besides comes into drama where Othello believes that destiny can be beaten by killing Desdemona. Even if Othello had escaped decease here he would hold been removed of his high military position and thrown in gaol. Othello was genuinely a adult male consumed with pride and wrongly believed he he could withstand destiny and come out on top by killing what he loved most. Othello could be considered non to be a calamity because of its misdemeanor of the integrities of clip, infinite, and action. The integrities of clip, infinite, and action province that the narrative must take topographic point in one metropolis, occur in a short period of clip more than 24 hours, and must follow one cardinal character throughout the full drama. Othello does non happen in one metropolis through the full narrative. Othello went to war in Cyprus and spent most of his clip life in Venice. Although there is really small clip spent in Cyprus Othello, the narrative, does non work along the same lines as Hamlet. In Hamlet about the full narrative took topographic point between the palace walls. As for the integrity of action we see something rather different here. The drama we studied is titled Othello, hence, the reader assumes that Othello is the cardinal character. If the book were non named this, it would be rather possible that many readers would believe the rubric cou ld be Iago and non Othello. Although Iago is non the good cat he is in the drama merely every bit much or even more than Othello. At the beginning of the drama Iago is present and Othello is absent. This is how it is many scenes are in the drama. Although Othello is regarded as one of Shakespeare s best calamities, there is still beliing grounds against this. Many bookmans acclaim Othello as Shakespeare s most perfect calamity because it encompasses all of the elements of a calamity so wondrous. The love shared between Othello and Desdemona at the beginning of the drama is so much more dramatic than that of Claudius and Gertrude in Hamlet or Macbeth and Lady Macbeth in Macbeth. The guilt and incorrect felt by Othello after he realizes his mistakes in opinion is incomparable to the play in Shakespeare s other calamities. Any audience screening Othello for the first clip would be captured by the characters because of their relation to the audience. Any experient Shakespeare reader would hold no job giving Othello the rubric of most perfect calamity because it covers all of the elements of a calamity so wondrous. 341

Maya Lin Essays

Maya Lin Essays Maya Lin Essay Maya Lin Essay Maya Lin Maya Lin, a graduate of Yale University, is a politically fueled artist who caused quite an uproar with her artwork. Maya Lin concentrates on reality as most of her artwork that gained nationwide attention consisted of memorial type structures that were interactive art. The Rosa Park’s memorial and the Vietnam memorial alike are both gigantic structures carved out of solid marble to remember those to impacted the development of the United States to what we are today. Maya combined several visual elements to bring her artwork alive including space, shape, and time and motion. According to our textbook, Living with Art, a shape is a two-dimensional form. It occupies an area with identifiable boundaries. Boundaries may be created by a line, a shift in texture, or a shift in color. Maya used shapes in a very creative way in both the Vietnam War memorial and the Juniata Peace Chapel pieces to be exact. To me, these two creations utilize this concept the most with the sharp angles and underground â€Å"boundaries† that almost give the memorial a triangle shape while still giving the appearance of an optical allusion at first. The Peace Chapel as also â€Å"set up† the same way utilizing the underground theme. For the Peace Chapel, large square cut rocks were placed below ground level to give a less defined boundary from far away, almost not appearing to be â€Å"sunken in† from certain angles due to the grass floor in the middle. Maya Lin also used space to her advantage, especially linear perspective in her Vietnam Memorial. The memorial is conceptually convincing but not optically convincing. More specifically, she includes two-point linear perspective where two parallel lines converge into one point. Maya also includes the concept of space in the Peace Chapel, suggesting depth but not implying it unless you view the work from a horizontal view. From a bird’s eye view, the Chapel would just appear a simply a circle of rocks, but from standing view the sculpture appears as much more than that appearing to be an area of meditation or similar to a giant â€Å"foot print. † Lastly, Maya included time and motion into her works of art. Especially noted, the Civil Rights Memorial (Rosa Park Memorial) is considered kinetic art. Kinetic art, or art that moves, is more than just a drawing on a piece of canvas; kinetic art is â€Å"living† art and Maya perused this theory to the max when including a waterfall and fountain in the memorial. Not only does the art include motion, but it also makes the art interactive, allowing the guests to splash and control the movement of the water. This element of the artwork includes the viewer to share, touch, and watch living artwork.

Business Reaserch Project Proposal Essay Example | Topics and Well Written Essays - 3000 words

Business Reaserch Project Proposal - Essay Example When todays young iPod Touch users age by five years, they will already have iTunes accounts, saved personal contacts to their iPod Touch devices, purchased hundreds of apps and songs, and mastered the iPhone OS user interface. This translates into loyalty and switching costs, allowing Apple to seamlessly graduate young users from the iPod Touch to the iPhone" (Jeff Bertolucc 2009). Consumers are eager to take advantage of the developments of Apple’s iPod in regions where the iPod has not been officially launched as yet. The problem lies in the fact that the success of Apple’s iPod has paved the way for the exponential growth of the smart phone industry. Consumers are now more inclined to purchase smart phones than any other types of portable digital music players. In addition, the success of the iPod has also spurred the rapid development of a large line of smart phones designed by competitors to rival Apple’s iPod and take advantage of the growing market for smart phones. In this regard, Apple’s move into the portable digital music player industry takes on a conspicuous form on account of the non-uniform that Apple is faced with on a global scale. The global competitive landscape for portable digital music player is every different now from what is used to be a decade ago. Technological innovation is driving down cost of production as it continues to drive up demand. As a result of these trends, Apple took a step beyond portable music players and moved into the music industry. This move of reverse integration allowed Apple to take on a strong position in the music industry. However, the move is one that does not promise the same success on an operational scenario such as that which it does in a tactical scenario. As a result, Apple’s success in the music industry becomes questionable when considered in the strategic perspective. Yet another aspect of Apple’s recent development is that which

Globalisation, International Trade and Marketing Essay

Globalisation, International Trade and Marketing - Essay Example Globalization trends have been different at various times of its evolution, allowing the observation of remarkable phases of evolution over time. The consideration of globalization process over the years, and the evaluation and assessment of the defining factors of globalization allow for the examination of past, present and future trends in globalization. Contemporary globalization takes a diverse and dynamic position, encompassing cultural, social, economic, political, technological and communication aspects. Origins of Contemporary Globalization Contemporary globalization is founded in human and social evolution, dating back to many centuries ago (Jain, 2011, p.10). The origin of modern time globalization can be traced by considering history of globalization throughout the years. The process can be said to have started right with the evolution of human societies. The multiplication and migration of human ancestors started between 10,000 and 20,000 years ago. At the time, hunting a nd gathering was the main survival practice. The multiplication of human life spread across the globe, aided by migration and settlement in new regions. Over the years to around 5,000 years ago, cultivation began and farming activities were evident in many natural environments around the world. Villages started developing and towns were being set up as a result. After the last ice age, agricultural revolution was experienced, marking a significant change in people’s life at the time (Jain, 2011, p.16). Need for exchange emerged, and trade resulted around 3,000 years ago. Tradable goods that included but not limited to artifacts and raw materials were exchanged. Global population growth was significantly rising, reaching one million people by this time. As a result, cultural, social and religious systems began to be realized. As high activity in all aspects of human life continued to be experienced, regional organizations were being realized. Growth and development of empires like Mesopotamia, Samarra, and Uruk emerged, and by 1AD, the entire world’s population approached 150 million people (Jain, 2011, p.19). With this increase in population, need for trade exacerbated. May social settings were not self-sufficient, leading to a scenario of interdependence among societies. Need for trade resulted in the establishment of trade routes around the world. 100 years after, major cities were emerging as trade centres, characterized by relatively high population in comparison to other settlement areas. Fifteenth Century marked a significant position for the current world phenomenon. This is the time that saw the development of the printing press in relatively developed societies of the world. A new world was therefore born, and global population hit 300 million people by this time. This and other major developmental aspects characterized the world until the 18th Century, when industrial revolution took place. Cultural, social, economic and political drive rs influenced the world, especially after the second revolution in agriculture. The global population was approaching a billion people. In the late 19th Century and early 20th Century (1880-1914), European empires had been fully integrated into the region’s set up, and world trade patterns were being re-organized and extended to integrate uncovered areas. By this time, the world population stood at approximately 1.6 billion people, with significant events in the 20th Century being World War I, Great

Sexual Harassment in the Workplace Research Paper - 3

Sexual Harassment in the Workplace - Research Paper Example To most victims, sexual harassment may prompt them to change their jobs or even feel that people around them do not care about them. There are more other challenges affecting the victims such as depression, anxiety, nightmares, anger, powerlessness, increased blood pressure, withdrawal, traumatic stress and isolation. Strong policies should be instituted both nationally and within organizations to address gender-based violence as well as conducting self-awareness campaigns to combat the challenge (Abdel-hameid & AbdelRhman, 2009). Sexual harassment has turned out to be a common issue due to its higher increase in different organizations begging from schools where teachers have fallen victims to bigger corporations. Sexual harassment occurs when any worker associated with an institution is found liable for sexually harassing a fellow staff or worker at the institution-sponsored events. Sexual harassment further involves a situation where a senior employee causes a junior worker to believe that unless the junior worker gives in for sexual favors, the employee cannot be allowed to enjoy some school programs or activities. There are also principles laid down by the individual businesses to deal with the sexual harassment matters. Sexual Harassment against Nurses in Turkey Çelik and Çelik (2007), identifies the prevalence and sources of sexual harassment against nurses in Turkey. According to their article, it was apparent that physicians were actually the main instigators of sexual harassment and that anger and fear was the reaction against the harassers. According to Çelik and Çelik (2007), most of the sexually harassed nurses do not report the incident to the hospital administration. Sexual harassment is very common in the nursing profession compared to other professions. Also, women are more subjected to sexual harassment compared to men. Nurses with bachelor’s degree in nursing are likely to report sexual incidents and that they are also the dominant group being harassed. Women holding subordinate positions especially in nursing are at risk of being sexually harassed by people in the higher ranks such as physicians. Because of serious effects of sexual harassment, nurses should know their rights and even procedures to follow when sexually harassed. Sexual harassment is prone in professions with more women than men such as nursing. Nursing profession subjects more women to sexual harassment than men. It is also apparent that less educated individuals are likely to be sexually harassed than the more educated individuals. The more educated employees holding superior positions mostly manipulate the less educated employees because of their financial status as well as the seniority of the positions they hold (Celik and Celik, 2007). Moreover, there is a big challenge amongst the sexually harassed individuals of reporting the incidences due to the fear of losing their jobs. Even though they may know the right channel to follow in order to seek justice, they may not make prompt decisions and this largely delays justice and encourages sexual harassment in workplaces. Naming and Claiming Workplace Sexual Harassment in Australia According to Charlesworth, McDonald & Cerise (2011), Australia is another country exp eriencing a high number of sexual harassment yet the legal aspect of it is never fully understood resulting into few cases being reported. Increase in sexual harassment

Marketing Plan For Farmish Frosty Milk Marketing Essay

Marketing Plan For Farmish Frosty Milk Marketing Essay The product I intend to launch is flavoured milk named as farmish frostys milk which is mainly aimed towards young children, housewives who are the main purchasers of domestic items. But due its different flavours frosty can also cater to adults like people working in offices, as a refreshing drink, even the male population, people who are into sports activities need a refreshing drink, this can add as an energy supplement. Most of the hassle using involved in making milk with different flavours initially would be eliminated with our special flavours already added to the market shelves. The new formula with which we have introduced our product encourages the entire household to indulge in buying the frosty bottle themselves irrespective of age or gender. Frosty has emerged as a brand which pays great heed to the value of great health to our society and has produced a brand which provides an individual with energy in no time. According to a research externally a 15 ml pack of strawberry tango provides enough energy at the end of a rigorous work out to provide the individual to jog for another half an hour. Gone are the days when an individual had to take four types of vitamins every day because now with the introduction Frosty will surely become: Frosty Your daily energy supplement Frosty low fat aims at targeting the diet conscious segment of the market whereby now it becomes a complete health solution for an individual. This variety aims at providing the dieters with alternate drinks. Before, the dieters had to look at expensive milk drinks that did not even provide the basic weight control and the energy provision requirement. Frosty flavoured milk drinks consider its customers as their factor of success therefore before the launch the company conducted focus group testing and also included children in this test, as they are also a key customer group. 3. STRATEGIC PLAN AND FOCUS 3.1 Vision Statement We have just launched our company few days back in U.K and it is forecasted that the consumers will react to this product positively, reason being that the consumer has always looked for quality taste and flavoured milk, although exists in the market, those which are imported items as well as local, but with our differentiated features and natural extracts from fresh fruits and constant quality checks, we are confident that we will take up the position of market leaders in this particular product category. We forecast that frosty milk will be much consumed by place and people like: Schools Shops Supermarkets Homes Recreational parks Airports Such places are in dire need of products that provide the end result instantly; hence frostys flavoured milk, as the name says it all will provide instant energy to the tired and exhausted travellers or small kids who are traveling may need a refreshing drink. Travellers for instance, may want something that boosts their energy level. At the moment our forecasts tell us that we are just concentrating to the upper middle class and the middle class but later on we will also cater to the lower middle class and lower class, once we generate enough money to meet our costs. 3.2 Mission Statement The company aims to become a key competitor in the flavoured milk industry by being an innovative and pioneering organization, conducting business with sense of responsibility and pride, keeping customers satisfaction as a prime objective. The apprehensible standards to be set to deal with our customers, governing agencies and suppliers by being honest, fair and principled. 3.3 Goals and Objectives 3.3.1 Goals Being categorized as a market challenger we have the advantage of trying new techniques, which have not been tried before. This means that through innovative and creative brainstorming, goals set can be achieved 3.3.2 Objectives Specific In order to achieve the position of leader in the industry and hit a targeted profit we are looking to have a well enough business model / plan. Measurable After calculating sales, expenses and profit margin we assume to make some money at the end of particular period as business have to make some money out of it. So we forecast about our business in that month for the upcoming time. Achievable As every company have some Goals and objectives , we also want to achieve something out of our business. For example : In return we are looking for  £2000 2500 per month. Realistic Every business have some realistic goals that is achievable too. For example if some want to make  £5000 of profit in certain week. Yes , they can if they have some realistic business plan / model. Time related If we are looking to do business of about  £30,000 40,000 a month, for that we have to give some time in order to create such strategies that make our production fast as well as the distribution channel more efficient and effective. 3.4 Core Competencies / Competitive Advantage The key success factors that Frosty has are the USPs which make it different from the other fruit milk drinks. Firstly the experience that the company has in the juice industry has helped the company as it has the information regarding the beverage market. Apart from this the company has developed some really unique flavours, which promise to give the customer a real worth for their money. The flavors are a blend of fresh fruit and some ingenious recipes. These recipes are kept secret. The pre-product launch survey that we had carried out in different households and areas of the city proved that our Frosty provides highest energy and taste and boosts the individuals strength. 4. SITUATION ANALYSIS 4.1 Evaluation of Marketing Tools and Techniques In order to evaluate marketing tools and techniques I adopt the following three techniques Porters five forces. SWOT Analysis Marketing Audit Bargaining power of suppliers Local suppliers are mostly threatened as there is possibility from well settled retailers to import the same product from any foreign country in well enough quantity to shatter the market. In our case this kind of things may happen but we could able to stand in the market. Bargaining power of buyers In this high technological and fast moving environment most of the customers have well enough knowledge about market and that products so most of the time they But in our case this is not the problem as we are the common individual to introduce this product as we can tackle this task. SWOT ANALYSIS: Strengths: Frosty flavoured milk will be the first flavoured milk drink of the country that will be wholly produced by local raw materials, this has been achieved through the stronger ties that the company has with its local suppliers which will be providing the company with fruits that will be processed in the Frosty processing plant. As far as the milk is concerned Frosty also has an edge over its competitors, as it owns the largest network of dairy farms. One of the strengths of the company is also its most successful product of fruit juices. WEAKNESS: One of the major weaknesses of Frosty flavoured milk drinks that affect its competitive position is the low brand recall. We have just launched the product and heavy spending has been incurred in order to encourage buyers to buy more and potential buyers to try the product for the first time. We certainly know that in order to strengthen the products position the name of the product has to be on every buyers tongue. Opportunities: Frosty flavoured milk drinks will be packaged and will allow the company to take advantage of the growth opportunities of around not just some areas but all over the U.K. The company will be selling in ready to carry packs that will be made by recyclable plastic and tetra pack special packaging material called T-550 which keeps the product safer for longer. This package suits the lifestyle of not just children and teenagers but also sportsmen. Another key opportunity that the company sees is that the spending patterns of the people are changing from spending less to spending more. This means that Frosty will be targeting a market, which is spending more money due to more disposable income. Threats: The threat however that we face is that we are investing in the fast moving consumer goods market and we see that in the future due to excess competition extreme measures may have to be taken in order to survive the cut-throat competition. Another threat that Frosty faces is the threat of other beverages that may position themselves as being in competition with Frosty. So in this case frosty would have to position itself safely in order to survive indirect competition from companies such as Coke and Pepsi. MARKETING AUDIT It Involves companys analysis in both aspects internally and externally Internal External environment of the company Internal Audit: PROMOTION It includes determining the combination of tools that is advertising, publicity, personal selling, and sales promotions. Also we can determine, how to measure effectiveness, the image to pursue, the choice of media the format of messages if ads should be timed throughout the year or during peak periods or not. Promotion is any form of communication used to inform, persuade and/or remind people about an organizations or individual goods, services, image and ideas. Promotion planning is systematic decision making relating to all aspects of an organization or individual communications efforts. Since Farmish is introducing Flavored Frosty Milk, customer must first be informed about the product and its attributes. After creating awareness, promotion can be used to develop favourable attributes of the flavoured milk. With an audience category, Farmish can identify to opinion leaders, people who influence others. In addition, it should also fully understand and use the mechanisms of word of mouth communication, the process by which people express their opinion and product related experience to another person. Farmishs promotional plan will lay maximum stress on Frosty and its attributes such as excellent quality and taste. Its main objective would be of moving consumers from awareness to purchase. It will also seek to communicate its overall image of the market innovator, introducing different enticing flavours. However, the main purpose of promotional activities will be aimed at creating an image in the consumers mind that when they consume the milk they will be refreshed and will enjoy the alluring flavour. PRICE The aim is to give good value for money through good competitive prices, which result in consumer satisfaction. The pricing objective is to optimize the profits of the company and to get the return on investment. The price of the milk is lower than the price of foreign brands with comparable quality and the same quantity. Although local brands cost less but the quality offered by Frostys is greater. Pricing Method: The basic method for pricing the product is cost-plus method or strategy where a fixed percentage is added to the cost in order to determine the price at which the product will leave the company. Pricing Strategies: Primarily two pricing strategies are used in order to achieve the overall marketing objectives and the pricing objectives: Competition-Based Pricing: In order to meet competition it is essential that prices should be competitive as compared to other brands of similar quality. Penetration Pricing: This pricing is done in a way so as to attract consumers to buy the product that will enable the company to penetrate into the market and gain market share. One way to do this is by lowering the pick-up price of the product, which makes it more easily reachable for the consumer. Introducing smaller bottle sizes with less weight can lower pick-up price. Retail Prices of Farmish Frosty Milk 150 ml bottle  £0.40 P 250 ml bottle  £0.90 P 1 litre pack  £1.40 P SALES PROMOTION Sales promotion involves paid marketing communication activities that stimulate consumer purchases and dealer effectiveness.. The 3 main objectives of sales promotion is to, Generate trial and repurchase, Build market share and, To build brand image and positioning. Advertising would create a specific image in the mind of the consumer i.e. positioning. Similarly sales promotion will be carried out in a way so as to further the quality perception of the product. Sales promotion helps attract customer traffic. For example, if Farmish would offer free samples on trial in stores to draw customers. Since Farmishs Frostys Milk is a consumer product, their success depends upon satisfaction, trust and goodwill. They believe, they can best serve the needs following a consistent, fair and sensitive program of consumer communication. For that reason we set up a help line 0800-8067840 DISTRIBUTIONS Distribution decisions include determining whether to sell via intermediaries or directly to consumers, how many outlets to sell through and whether to control or cooperate with other channel members. We planned to distribute the products on our various outlets covering all over the United Kingdom. To make sure that the customer gets the milk in its original premium form, therefore we focus to distribute Frostys flavoured milk twice a week amongst the outlet. DISTRIBUTION CHART FLOW FOR FARMISH FROSTYS MILK Warwickshire Warehouses Distributors Retailers Wholesalers Consumers Personal Sales Force Institutions External Audit : Competitors: Frosty flavoured milk does not consider itself as extension to the segment consuming milk. But it sees itself as a key competitor in the flavoured milk drink industry. Our competitors are currently well settled in the market and have a major share of the market. With the launch of Frosty flavoured milk it will come in direct competition with the local and foreign rivals such as Vanilla flavoured Milk by ASDA, Yazoo drink by Friesland NESQUIK by Nestle. Frosty aims to position itself as a brand with a different image than its competitors. Frosty thinks that it should make sure that a fun image of the product is created in the minds of the customers. Frosty through its creative slogans wants to create this image. Our company considers Yazoo as the market leader in the flavoured milk industry with a high market share of the urban markets and an innovative approach of providing the customers with the new tastes. The product that we launch will have a similar approach to that of Yazoo in providing the customers with a range of totally new flavours. Nestle is as market challenger to Yazoo and is giving Yazoo a tough time with respect to increasing market share. If the leader offers a price advantage then Frosty would also do the same. It goes with any changes in packaging. Through the companies sources it has attained information that suggest that the Yazoo is planning to launch its flavoured milk in family size bottles. This information is enough to launch a major offensive against this move. This means that by the time Yazoo would launch its family size packs we would be already in the market and may even have an advantage of claiming the idea as our very own Demographics: The demographic environment mainly provides a brand structure for our company to place our product. In other words, it greatly facilitates in the market positively for products and determining its possible competitors. Almost many social classes consume flavoured milk; age and gender factors do not have a significant impact on this milk. And it could be somewhat broadly and easily categorized. Individual belonging to all sexes, and ages consume our milk. The Frosty Flavoured Milk is best been suitable for the following: Young Children Teenagers Married woman for small children Adults Old-age people Psychographics: There are people who belong to middle and upper middle-class. Modern time-conscience, busy people, students, and children who want to work hard and believe in achieving their goals, our Frosty Flavoured Milk will be source of satisfaction, energy and refreshment, and more importantly convenience and timeliness on their busy lines. The astringent and hygienically maintained flavours give its refreshing quality. Many people are not aware of the criteria of Mutual-Drinking which applies to Frosty flavoured Milk that has good quality and flavour balance, and does not need any artificial aroma. 4.2 Company Analysis Focus: The companys main focus is to attain the position of a leader itself in the Industry. Culture Our reputation for quality, taste and nutrition is best and we are also being trust by our consumers on what we do. We are also looking forward to get delighted by our consumers because of the new and innovative products that we have yet to create. Strengths As far as the milk is concerned Frosty also has an edge over its competitors, as it owns the largest network of dairy farmers Weaknesses One of the major weaknesses of Frosty flavoured milk which also affect its competitive position is due to having the low brand recall and in order to strengthen the products position the name of the product has to be on every buyers tongue Market share Currently in this highly competitive environment we are having 10-12% of market share but our aim is to acquire at least 30%-40% of the flavoured milk market share by the year 2011. The high margin would attain us the desirable market share and have all the possibilities to make our way towards the top ranking in the market. 4.3 SWOT Analysis Internal Environment of our company Frosty flavoured milk will be the first flavoured milk drink of the country that will be wholly produced by local raw materials, this has been achieved through the stronger ties that the company has with its local suppliers which will be providing the company with fruits that will be processed in the Frosty processing plant. One of the major weaknesses of Frosty flavoured milk drinks that affect its competitive position is the low brand recall The external environment of our company The company will be selling in ready to carry packs that will be made by recyclable plastic and tetra pack special packaging material called T-550 which keeps the product safer for longer Another threat that we are facing is from other beverages that may position themselves as being in competition with Frosty. So in this case frosty would have to position itself safely in order to survive indirect competition from companies such as Coke and Pepsi 4.4 Industry Analysis 4.4.1 Competitor Analysis Market position Farmish Frosty is producing flavoured milk; thus, we are competing with all the players in the. Milk industry like Countrys life organic milk, Nestle Milk flavoured milk brands like FRIJJ, Milka, Rose Milk etc. Hence our competition is highly existing and established milk brands in the market. Farmish Frosty hopes to position its flavoured milk in a totally different perspective than that of its competitors by offering convenience for all household individuals. Market shares SWOT 4.4.2 Collaborators Subsidiaries, joint ventures, and distributors, etc. 4.4.3 Customer Analysis Number Type Value drivers Decision process Concentration of customer base for particular products 4.4.4 Porters Five Forces 4.4.4 Porters Five Forces 4.5 Climate/Environmental Analysis Macro-environmental STEEPLE analysis: Social and cultural or demographic Technological Economic and Supply/Demand Environmental (natural) Political Legal Ethical 5. MARKET-PPRODUCT FOCUS 5.1 Marketing and Product Objectives 5.2 Market Segmentation Target Market In order to approach our target consumers, Farmish divided the market out in different segments. These segments were taken to be the potential markets having the most return. Segmenting was done under the following core elements. Geographic Segmentation: In the geographic segmentation, we first went for the population factor. We started our launch from the main parts of UK. We launched frostys milk first in London where we aimed at the renowned retail stores and super stores like Asda Tescos and then in Manchester and Birmingham.. This was a good start as we have gained sales instantly. After only a matter of two to three months we gained 15% market share in London. Greater market share in London was due to the cosmopolitan city. Demographic Segmentation: In the demographic segmentation, our primary concern was the Age factor. In that, we are willing to address the youngsters from the age of 5 and above. Usually milk is associated with young children, so in our initial launch we targeted the young children and also the teenagers. Other than that, we are also concerned for the family life cycle; we chose families, which were primarily young married couples with young children as our potential targets. We preferred these families to belong to the upper and middle classes. We also preferred educated people with good buying power. Income was another factor we took into consideration, as we are not focusing on the rural or suburban areas, but more on the urban cities, mainly the upper middle class segment. As the population distribution and usage pattern shows that flavoured milk as a product is mainly consumed in the upper class, upper middle and middle -middle class. So frosty will also penetrate in this particular segment with different marketing programs. Individuals who greatly value quality, convenience and time, those who are trend following, energetic and outgoing also come into our target as our proposition. The family life cycle limits should also be increased to cover all the following categories as well. Bachelors Young married Young married with young children And families with young children Behavioural Segmentation: Consumers justify the consumptions of milk for the benefit of releasing fatigue and lethargy, as milk gives an individual a feeling of refreshness and instant energy, in a way recharging a person. By behavioural factors we can easily depict what sort of consumers would be best fitted for our flavoured milk. It is of interest to note that the role of flavoured milk can vary differently during different parts of the day categorized as follows: Breakfast Drink: Our milk will be aimed towards the morning drinkers of milk, usually school going children, as energy drink. It serves an energizer and with our special flavours, given the amount of energy they bring, using strawberries, mango, vanilla etc, add to a part of a young child growth and is also good for the body as a whole. Is can also be used by teenagers, as the trends today are changing and much of our culture is being influenced by the western culture and we find that having milk and juices in the morning as at breakfast time has become a normal norm. Mid-Evening Drink: during the evenings frostys milk can also be used as an instant energizer to those individuals who are into sport activities, people who do vigorous exercises. Over here, we can even segment on the basis of health conscious people who want to maintain a healthy diet and cut on high fat food, for that as well, we have our separate line for low fat flavoured milk, which comes in all flavours. So clearly we can say that our product will be catering to both males and females who play sports. The only difference being that males want something refreshing to quench their thirst and females want an energizer drink which is low in fat, so out flavoured milk with cater to the needs of both the genders. Many school going children would also want the milk as part of their after play, coming to their mothers and asking for a cold glass of flavoured milk. Night Drink: can be used to relieve oneself from the daylong tension and fatigue. Even adults can have this drink before going to bed, as it tends to soothe ones mind with the days long work. We can segment our markets on the basis of consumer usage rate, those individuals who are more loyal to flavored milk can be targeted with more diligence and we can use appropriate strategies to attract potential consumers towards our product. Psychographic Segmentation: In the Psychographic segmentation, people who are conscious of their life styles should also be brought in the target market. The concept of leading a casual life with flavoured milk as a daily refreshment drink should be introduced. Flavoured milk should be made a substitute for other drinks such as juices and fizzy drinks for the consumers who are food value conscious. With our frostys milk being introduced in tetra packs as well as cans it would add to the lifestyle of the elite class, and would also be easy to carry around for young children as a snack pack for their lunch periods. 5.4 Point of Difference Because of our close ties with our suppliers and our own dairy farms the acquiring of the raw materials is easy and cheap which gives us an edge over the competitors and gives us an advantage in pricing our products this makes that we can lower our price and still gain the same advantage 5.5 Positioning

Language in Haiti Essay -- Linguistics

Language in Haiti Language is a major issue in Haiti. Our language is both one of our greatest belongings and one of our greatest baggages. On one hand, it represents the mainstay of our culture, the unique pathway to our true nature; on the other, it sometimes restricts and casts us out by putting us in a box and preventing us from accessing two prime universal bases of knowledge and culture: French and English. Our people, in Haiti and throughout the world, sometimes need to use Creole, French, and English at different times, in different places, to respond to different needs. Creole as mainstay and restriction is Haiti’s current and, most likely, our future reality, and I believe that Creole should be valued and fully integrated in the educational system in Haiti. The two official languages of Haiti are French and Creole. All Haitians speak Creole, while only a very small part of the population can be considered bilingual in French and Creole. Traditionally, the two languages served different functions, with Creole being the informal everyday language of all the people, regardless of the social class, and French considered as the language of formality used in situations such as newspapers, schools, the law and the courts, and official documents and decrees. Nevertheless, because the great majority of Haitians only speak Creole, many efforts have been made in recent years to expand its usage. A language is conventionally composed of arbitrary signals such as voice sounds, gestures, and written symbols; such a system uses its own rules for combining its components, which makes every language unique. Haitian Creole highly relies on proverbs, metaphors, and sublime imagery. Here are a few of these pro... ...ole, and I wish to take part in it. Works Cited Baldwin, James. â€Å"If Black English Isn’t a Language, Then Tell Me, What Is?† The Composition of Our â€Å"Selves.† 2nd ed. Dubuque, Iowa: Kendall/Hunt. 2000. 123–6. Curtis, Marcia. Preface. The Composition of Our â€Å"Selves.† 2nd ed. Dubuque, Iowa: Kendall/Hunt, 2000. 103–9. Jordan, June. â€Å"Nobody Mean More to Me Than You.† The Composition of Our â€Å"Selves.† 2nd ed. Dubuque, Iowa: Kendall/Hunt. 2000. 157–163. Katz, Stacey. â€Å"Near-Native Speakers in the Foreign-Language Classroom: The Case of Haitian Immigrant Students†. The Sociolinguistics of Foreign-Language Classrooms. EBSCO. 2003. 08 Nov. 2005 http://search.epnet.com/login.aspx?direct=true&db= eric&an=ED481793. White, Michael and David Epston. â€Å"Story, Knowledge, and Power†. The Composition of Our â€Å"Selves.† 2nd ed. Dubuque, Iowa: Kendall/Hunt, 2000. 64–77.

Fast Food, Fat Food Essay

Nowadays, fast food is a very popular trend in Thailand. Teenagers think it is very smart when they go into the fast food restaurant, especially, the restaurant which is a part of foreign franchise restaurants. Not only teenagers that like fast food but also children and adults. In the busy schedule of modern times people have no time to prepare nutritious food during the day so fast food becomes a very convenient choice. However, there are several health issues related to consuming fast food; one serious concern is the connection between fast food and obesity. Because of the growth of fast food restaurants, you can see them located anywhere in daily life. For example, on the first floor of MBK Centre, there are numerous fast food restaurants, such as KFC, McDonald’s and Burger King situated not far from each other. However, at lunch time, you cannot find any seats if you arrive late. Similarly, at Chulalongkorn University there are more than 5 branches of 7-eleven, which is a shop where you can buy fast food such as sandwiches, hot dogs, and hamburgers. You would think that there are not many people there. Although there are many branches, students also have to wait in a long queue. This can show how popular fast food is. Fast food is very popular not only in Thailand but also all over the world. The information from Wikipedia showed that â€Å"Burger King has more than 11,100 restaurants in more than 65 countries, Pizza Hut is located in 97 countries with 100 branches in China, KFC is located in 25 countries and McDonald’s is located in 120 countries on 6 continents and operates over 31,000 restaurants worldwide. † Although fast food is very popular, it is not good for health because fast food is often high in carbohydrates, fat and sodium. Common menu items at fast food restaurants are fried chicken, French fries, hot dogs and ice cream. All of them are made of dangerous ingredients such as low quality bread, high fat meat and salt. The fast food bread is made from refined grains that have been modified from their natural composition, so a fraction of the nutrients in grains are removed, remaining only excessive starchy. Next ingredient is the high fat meat which can cause several health problems. Fat from animal sources is saturated fat that increased the bad cholesterol (LDL) levels which results in adverse negative effects on the health of person’s heart (â€Å"The Importance of Dietary Fat and Cholesterol†). The last dangerous ingredient is the thing that makes fast food has a delicious taste; it is salt or sodium chloride. Scientists from the Scientific Advisory Committee on Nutrition recommend only 4 grams of salt per day because overconsumption of salt will cause high blood pressure and obesity (qtd. in â€Å"Salt†). In fact, according to the CASH survey, a Pizza Hut meal deal, which consisted of a Cheesy Bites Meat Feast, a medium Super Supreme, a portion of garlic bread, a portion of potato wedges, chicken wings, and a cheesecake dessert shared equally between four, could contain 12. 3 grams of salt per person (qtd. n â€Å"Fast food salt levels shocking†). â€Å"People are increasingly being warned against the ill effects of fast food and the potential damage they pose to human health† (Manohar). Many publications write about health problems from fast food such as nutrition deficiencies, increased cholesterol levels and diabetes. However, the most concern is obesity because this can link to many other dangerous health problems. One reason that fast food can cause obesity is because of its high calories. In one day, men need about 2,700 calories and women need about 2,000 calories but you can get excess calories from only one meal with fast food. For example, a KFC meal set includes KFC famous Bowls (Rice and Gravy), a breast of fried chicken, a box of French fries and a 32-oz Gulp of Pepsi. You can gain 790 calories from the bowl, 370 calories from the chicken, 500 calories from French fries and 425 calories from Pepsi, so from all of these you will have about 2,085 calories (â€Å"KFC Nutrition Guide†). As a consequence from the warning in many publications, the danger of fast food is widely known. However, no matter people know how it is linked to many health problems, it is also the popular choice. We cannot avoid fast food completely in our day-to-day life considering its taste, convenience and instant delivery. Fast food is suited to our everyday lifestyle, but, as we know, a little bit of everything is always good while overexposure to that â€Å"little bit† is disastrous more often than not. Fast food is not an exception to this.

Why Globalization is seen as a Polarizing Factor in the International Community

Why Globalization is seen as a Polarizing Factor in the International Community Vandana Shiva (2005) seems to disagree with Thomas Friedman over the role of globalization in the international system. Vandana (2005) argues that the effects of globalization are so adverse to the people of the third world and other developing economies. He observes that people of the third world have been presented a raw deal in the globalized economy.Advertising We will write a custom critical writing sample on Why Globalization is seen as a Polarizing Factor in the International Community specifically for you for only $16.05 $11/page Learn More Globalization can be considered the buzzword for the 21st century. Globalization is a means or a process of reorienting and reconfiguring the world leading to the establishment of a new system of governance that is, a globalized world. The one, which is, as Francis Fukuyama (1992) pointed out, characterized by the convergence of systems whether this will lead to the formation of a single global economy or just num ber of regional organizations with homogenized or converging objectives is a matter of debate. Globalization has transformed the entire international system in very fundamental ways, not just the way Vandana (2005) thinks. Indeed, even the few entities, institutions and systems that have resisted the effects of globalization have been forced to transform the way they operate to withstand the effects of globalization. Globalization has led to a massive transformation in which individuals, households and rural communities have become directly involved in global processes and an exposure to a more diversified economy. This has brought about a new relationship between power and the division of labor (Mittelman, 1997). The transformations that have been imposed by globalization have not spared any entity in the international system, be they individual states, MNCs or any other non-state actors. Developed nations have been impacted by globalization as the developing nations. Therefore, Va ndana’s claim that developing nations are the only affected is null and void. In the rich nations for instance, globalization has led to generation of internal third world (Galbraith, 1992). While in the developing countries, centers of wealth have been created.Advertising Looking for critical writing on international relations? Let's see if we can help you! Get your first paper with 15% OFF Learn More The effects of globalization however have not been uniform, just as Vandana argues. MNCs and other entities in the North have been affected differently from local firms and those in the South, an aspect that Vandan does not capture in his argument (Vandana, 2005). Globalization involves forces that are beyond one country’s control and therefore reduces the power and scope of the state. It is associated with the declining regulatory role of the state (Sassen, 1997). Held David et al capture the essence of globalization when they argue that it is th e widening, deepening and speeding up of worldwide interconnectedness in all aspects of contemporary social life (Held, et al 1992). On the other hand, globalization has introduced a new way reasoning whereby the countries think globally and act locally. The way think global and act locally work or regionally works is that while the functions related to technology, information, product brand development and finance are managed on global scale, functions related to manufacturing, sub-contracting and marketing are managed on regional or local basis to increase responsiveness (Dierks, 2001). In a sense, the new technology innovativeness has led to a global-localization of production. Under the think global act globally era, product design remained unchanged for decades. Calculators, television sets and other technologies looked the same and remained unchanged for decades globally. In the think global act local epoch, product models changed rapidly. Indeed, there is almost a new model/s tyle of computer almost every 3-6 months. The Coca-Cola company for instance remained unchanged between 1960 and 1980, but has had numerous changes in the last five or so years.Advertising We will write a custom critical writing sample on Why Globalization is seen as a Polarizing Factor in the International Community specifically for you for only $16.05 $11/page Learn More References Dierks, R. (2001). Introduction to globalization: political and economic perspectives. Chicago, Illnois. Fukuyama, F. (1992). The end of History and the Last man. New York: Free press. Galbraith, K. (1992). Culture of Contentment: Boston: Houghton Mifflin Co. Retrieved from: https://link.springer.com/article/10.1007%2FBF02689966?LI=true Held, et al. (1992). The Columbia history of Eastern Europe in the twentieth century. Washington, DC: Columbia University Press. Mittelman, J.H. (1997). Innovation and transformation in international studies. Cambridge: Press Syndicate,. Sassen, J. van der Wal, J. (1997). Performance analysis of a real-time database with optimistic concurrency control. Stockholm: TU Ltd. Vandana, S. (2005). The Polarized World of Globalization. Web.Advertising Looking for critical writing on international relations? Let's see if we can help you! Get your first paper with 15% OFF Learn More

Thе busÑnеss and fÑnаncÑаl pеrfоrmаncе of tеscо over a three year period-2007-2009 The WritePass Journal

ThÐ µ busÃ'â€"nÐ µss and fÃ'â€"nÐ °ncÃ'â€"Ð °l pÐ µrfÐ ¾rmÐ °ncÐ µ of tÐ µscÐ ¾ over a three year period-2007-2009 Introduction ThÐ µ busÃ'â€"nÐ µss and fÃ'â€"nÐ °ncÃ'â€"Ð °l pÐ µrfÐ ¾rmÐ °ncÐ µ of tÐ µscÐ ¾ over a three year period-2007-2009 IntroductionBusiness SummaryHistÐ ¾ryCritical Success Factors 1)  Ã‚   PrÐ ¾fit mÐ ¾dÐ µl fÐ ¾cus2)  Ã‚  Ã‚   SmÐ °rt mÐ ¾vÐ µr Ð µntry3)  Ã‚  Ã‚   LÐ µvÐ µrÐ °ging â€Å"rÐ µÃ °ch†, â€Å"richnÐ µss† Ð °nd â€Å"Ð °ffiliÐ °tiÐ ¾n†4)  Ã‚  Ã‚  Ã‚  Ã‚   StrÐ °tÐ µgic PÐ ¾sitiÐ ¾ning5)  Ã‚  Ã‚  Ã‚  Ã‚   BrÐ °nd pÐ ¾wÐ µrSustÐ °inÐ °bility Ð ¾f thÐ µ TÐ µscÐ ¾ mÐ ¾dÐ µl1)   MÐ °nÐ °gÐ µ Ð °nd nurturÐ µ thÐ µ Ð ¾ccurrÐ µncÐ µ Ð ¾f infÐ ¾rmÐ °tiÐ ¾n Ð °nd knÐ ¾wlÐ µdgÐ µ2)   ЕnÐ °blÐ µ intÐ µrÐ °ctiÐ ¾n bÐ µtwÐ µÃ µn custÐ ¾mÐ µrs Ð °nd thÐ µ rÐ µtÐ °il grÐ ¾up3)  Ã‚   NurturÐ µ thÐ µ nÐ µtwÐ ¾rk Ð µffÐ µct Ð ¾f intÐ µrcÐ ¾nnÐ µctnÐ µss bÐ µtwÐ µÃ µn cÐ ¾mpÐ °ny Ð °nd industry vÐ °luÐ µ chÐ °in4)   ЕnsurÐ µ Ð °lignmÐ µnt Ð ¾f IT/IS tÐ ¾ businÐ µss, with thÐ µ dÐ µvÐ µlÐ ¾pmÐ µnt Ð ¾f cÐ ¾mplÐ µx Ð °dÐ °ptivÐ µ Ð °rchitÐ µcturÐ µs5)   Bui ld nÐ °vigÐ °tiÐ ¾n Ð °nd Ð µxtÐ µnsiÐ ¾n pÐ ¾ints fÐ ¾r rÐ µÃ °ch Ð °nd richnÐ µss6)  Ã‚   RÐ µ-Ð ¾rchÐ µstrÐ °tÐ µ sÐ µrvicÐ µs Ð °nd Ð °ccÐ µss tÐ ¾ cÐ ¾nsumÐ µrs7)  Ã‚   PrÐ ¾fit mÐ ¾dÐ µl, strÐ °tÐ µgic pÐ ¾sitiÐ ¾n fÐ ¾cusTÐ µscÐ ¾Ã¢â‚¬â„¢s FinÐ °nciÐ °l PÐ µrfÐ ¾rmÐ °ncÐ µCÐ ¾nclusiÐ ¾nRÐ µcÐ ¾mÐ µndÐ °tÃ'â€"Ð ¾nsBÃ'â€"blÃ'â€"Ð ¾grÐ °phyRelated Introduction Intense rivalry bÐ µtwÐ µÃ µn UK supÐ µrmÐ °rkÐ µts hÐ °d led thÐ µ major retail groups in thÐ µ UK tÐ ¾ Ð µxpÐ °nd thÐ µir prÐ ¾duct cÐ °tÐ µgÐ ¾riÐ µs Ð °nd Ð µxtÐ µnd thÐ µir rÐ µtÐ °il fÐ ¾rmÐ °ts in Ð °n Ð µffÐ ¾rt tÐ ¾ Ð µxplÐ ¾it nÐ µw sÐ °lÐ µs Ð ¾ppÐ ¾rtunitiÐ µs. ОnÐ µ Ð °rÐ µÃ ° thÐ °t hÐ °s Ð °ttrÐ °ctÐ µd subsÐ µquÐ µnt invÐ µstmÐ µnt is Ð ¾nlinÐ µ grÐ ¾cÐ µriÐ µs. IndÐ µÃ µd thÐ µ intÐ µrnÐ µt is nÐ ¾w sÐ µÃ µn Ð °s Ð °n Ð °dditiÐ ¾nÐ °l chÐ °nnÐ µl fÐ ¾r brÐ °nding, trÐ °nsÐ °ctiÐ ¾ns Ð °nd custÐ ¾mÐ µr rÐ µlÐ °tiÐ ¾nship mÐ °nÐ °gÐ µmÐ µnt (HÐ °cknÐ µy Ð µt Ð °l., 2005; HÐ °cknÐ µy Ð °nd Burn, 2004; RÐ °nchhÐ ¾d Ð µt Ð °l., 2004). IGD (2009) rÐ µpÐ ¾rtÐ µd thÐ °t thÐ µ UK Ð ¾nlinÐ µ grÐ ¾cÐ µry mÐ °rkÐ µt wÐ °s wÐ ¾rth bÐ µtwÐ µÃ µn  £900 milliÐ ¾n Ð °nd  £4 billiÐ ¾n in 2009, with significant growth predicted fÐ ¾r thÐ µ future, duÐ µ tÐ ¾ rÐ µtÐ °ilÐ µrs bÐ µing Ð °blÐ µ tÐ ¾ rÐ µducÐ µ thÐ µir trÐ °nsÐ °ctiÐ ¾n cÐ ¾sts, incrÐ µÃ °sÐ µ thÐ µ spÐ µÃ µd Ð °nd quÐ °lity Ð ¾f cÐ ¾nsumÐ µr intÐ µrÐ °ctiÐ ¾ns Ð °nd thÐ µ incrÐ µÃ °sÐ µ Ð ¾f thÐ µir Ð µxisting mÐ °rkÐ µts Ð °nd cÐ ¾nsumÐ µr bÐ °sÐ µ (TurbÐ °n Ð °nd King, 2003). Ð mÐ ¾ng thÐ µ lÐ °rgÐ µst UK grÐ ¾cÐ µry rÐ µtÐ °ilÐ µrs, TÐ µscÐ ¾, Ð SDÐ /WÐ °lmÐ °rt, SÐ °insbury Ð °nd WÐ °itrÐ ¾sÐ µ Ð °ll nÐ ¾w Ð ¾pÐ µrÐ °tÐ µ Ð ¾nlinÐ µ rÐ µtÐ °il fÐ °cilitiÐ µs. ThÐ µrÐ µ Ð °rÐ µ mÐ °ny chÐ °llÐ µngÐ µs fÐ °cÐ µd by rÐ µtÐ °ilÐ µrs whÐ µn sÐ µtting up virtuÐ °l rÐ µtÐ °il Ð ¾pÐ µrÐ °tiÐ ¾ns. This cÐ °n bÐ µ illustrÐ °tÐ µd by SÐ °f Ð µwÐ °y, which withdrÐ µw Ð °ftÐ µr Ð °n Ð µÃ °rly unsuccÐ µssful Ð µxpÐ µriÐ µncÐ µ bÐ µfÐ ¾rÐ µ thÐ µir tÐ °kÐ µÃ ¾vÐ µr by MÐ ¾rrisÐ ¾ns in 2004. ОnÐ µ Ð ¾f thÐ µ mÐ °jÐ ¾r prÐ ¾blÐ µms Ð µncÐ ¾untÐ µrÐ µd is dÐ µciding hÐ ¾w tÐ ¾ physicÐ °lly Ð ¾rgÐ °nisÐ µ thÐ µir Ð ¾nlinÐ µ rÐ µtÐ °il Ð ¾pÐ µrÐ °tiÐ ¾ns, spÐ µcificÐ °lly whÐ µthÐ µr tÐ ¾ supply custÐ ¾mÐ µrs frÐ ¾m cÐ µntrÐ °lly-lÐ ¾cÐ °tÐ µd wÐ °rÐ µhÐ ¾usÐ µs Ð ¾r frÐ ¾m Ð µxisting stÐ ¾rÐ µs. ОnÐ µ cÐ ¾mmÐ ¾n thrÐ µÃ °d thÐ °t runs thrÐ ¾ughÐ ¾ut thÐ µ dÐ µplÐ ¾ymÐ µnts in Ð ¾nlinÐ µ grÐ ¾cÐ µry is thÐ µ rÐ µliÐ °ncÐ µ Ð ¾n intÐ µrnÐ µt tÐ µchnÐ ¾lÐ ¾gy tÐ ¾ Ð µnÐ °blÐ µ Ð °nd sustÐ °in cÐ ¾mpÐ µtitivÐ µ Ð °dvÐ °ntÐ °gÐ µ. MÐ °ny sÐ µÃ µ tÐ µchnÐ ¾lÐ ¾gy Ð °s thÐ µ kÐ µy tÐ ¾ gÐ °ining Ð °nd sustÐ °ining cÐ ¾mpÐ µtitivÐ µ Ð °dvÐ °ntÐ °gÐ µ, rÐ °thÐ µr thÐ °n lÐ ¾Ã ¾king Ð °t thÐ µ tÐ µchnÐ ¾lÐ ¾gy Ð °s Ð ° suppÐ ¾rt mÐ µchÐ °nism tÐ ¾ suppÐ ¾rt Ð °nd fÐ °cilitÐ °tÐ µ thÐ µ rÐ µÃ °l vÐ °luÐ µ Ð °dding prÐ ¾cÐ µssÐ µs thÐ °t Ð ¾f, Ð µncÐ ¾urÐ °ging Ð °nd suppÐ ¾rting thÐ µ intÐ µrÐ °ctiÐ ¾n bÐ µtwÐ µÃ µn cÐ ¾nsumÐ µrs Ð °nd thÐ µ rÐ µtÐ °il Ð ¾utlÐ µt. Business Summary TÐ µscÐ ¾ is Ð µngÐ °gÐ µd in Ð ¾pÐ µrÐ °ting fÐ ¾Ã ¾d stÐ ¾rÐ µs Ð °nd Ð °ssÐ ¾ciÐ °tÐ µd Ð °ctivitiÐ µs in the UK, RÐ µpublic Ð ¾f IrÐ µlÐ °nd, HungÐ °ry, PÐ ¾lÐ °nd, CzÐ µch RÐ µpublic, SlÐ ¾vÐ °kiÐ °, ThÐ °ilÐ °nd, SÐ ¾uth KÐ ¾rÐ µÃ °, TÐ °iwÐ °n, TurkÐ µy, MÐ °lÐ °ysiÐ °, JÐ °pÐ °n Ð °nd ChinÐ °. Tesco Ð ¾ffÐ µrs brÐ °ndÐ µd Ð °nd Ð ¾wn lÐ °bÐ µl prÐ ¾ducts. It Ð ¾ffÐ µrs thÐ µ fÐ ¾llÐ ¾wing stÐ ¾rÐ µ fÐ ¾rmÐ °ts in thÐ µ UK: ЕxtrÐ °, vÐ µry lÐ °rgÐ µ stÐ ¾rÐ µs including Ð ° rÐ °ngÐ µ Ð ¾f nÐ ¾n-fÐ ¾Ã ¾d prÐ ¾ducts; SupÐ µrstÐ ¾rÐ µs, lÐ °rgÐ µ stÐ ¾rÐ µs Ð ¾ffÐ µring Ð ° full fÐ ¾Ã ¾d rÐ °ngÐ µ Ð °nd mÐ °ny nÐ ¾n-fÐ ¾Ã ¾d prÐ ¾ducts; CÐ ¾mpÐ °ct SupÐ µrstÐ ¾rÐ µs; ОthÐ µr stÐ ¾rÐ µs, mÐ °inly sÐ µlling fÐ ¾Ã ¾d rÐ °ngÐ µs Ð °nd hÐ ¾usÐ µhÐ ¾ld gÐ ¾Ã ¾ds; MÐ µtrÐ ¾, city-cÐ µntÐ µr stÐ ¾rÐ µs sÐ µrving thÐ µ nÐ µÃ µds Ð ¾f Ð ° busy wÐ ¾rkin g pÐ ¾pulÐ °tiÐ ¾n; Ð °nd ЕxprÐ µss, pÐ µtrÐ ¾l stÐ °tiÐ ¾n cÐ ¾urt shÐ ¾ps sÐ µlling Ð ° rÐ °ngÐ µ Ð ¾f Ð µvÐ µrydÐ °y prÐ ¾ducts. HistÐ ¾ry RÐ µgistÐ µrÐ µd in ЕnglÐ °nd Ð ¾n NÐ ¾v. 27, 1947 Ð °s TÐ µscÐ ¾ StÐ ¾rÐ µs (HÐ ¾ldings) Ltd. RÐ µ-rÐ µgistÐ µrÐ µd Ð ¾n FÐ µb. 4, 1982 Ð °s TÐ µscÐ ¾ StÐ ¾rÐ µs (HÐ ¾ldings) P.L.C. in Ð °ccÐ ¾rdÐ °ncÐ µ with thÐ µ prÐ ¾visiÐ ¾ns Ð ¾f thÐ µ CÐ ¾mpÐ °niÐ µs Ð ct 1980. NÐ °mÐ µ chÐ °ngÐ µd tÐ ¾ TÐ µscÐ ¾ StÐ ¾rÐ µs (HÐ ¾ldings) PLC. PrÐ µsÐ µnt nÐ °mÐ µ Ð °dÐ ¾ptÐ µd in 1983. Оn Ð ug. 30, 1979, Tesco Plc Ð °cquirÐ µd CÐ °rtiÐ µrs SupÐ µrfÐ ¾Ã ¾ds Ltd. fÐ ¾r  £19,395,000. Оn Оct. 5, 1979, Company Ð °cquirÐ µd Еly TrÐ °ding ЕstÐ °tÐ µ Ltd. fÐ ¾r  £370,000. In 1986, CÐ ¾. Ð °cquirÐ µd HilliÐ °rds plc. Оn FÐ µb. 10, 1986, CÐ ¾. sÐ ¾ld thÐ µ VictÐ ¾r VÐ °luÐ µ divisiÐ ¾n Ð ¾f TÐ µscÐ ¾ StÐ ¾rÐ µs Ltd. fÐ ¾r  £5,250,000 cÐ °sh. In MÐ °y 1986, CÐ ¾. sÐ ¾ld TÐ µscÐ ¾ InsurÐ °ncÐ µ Ltd. Оn FÐ µb. 29, 1992, CÐ ¾. Ð °cquirÐ µd thÐ µ rÐ µmÐ °ining 50% intÐ µrÐ µst in GlÐ °stÐ ¾n SpÐ µn Hill Ltd. In MÐ °y 1993, CÐ ¾. Ð °cquirÐ µd 84% Ð ¾f Еts. CÐ °ttÐ µÃ °u S.Ð ., Ð ° fÐ ¾Ã ¾d rÐ µtÐ °ilÐ µr Ð ¾pÐ µrÐ °ting in NÐ ¾rthÐ µrn FrÐ °ncÐ µ. In DÐ µc. 1993, CÐ ¾. Ð °cquirÐ µd Ð °n Ð °dditiÐ ¾nÐ °l 11% intÐ µrÐ µst in Еts. CÐ °ttÐ µÃ °u S.Ð . tÐ ¾ bring thÐ µ intÐ µrÐ µst tÐ ¾ 95% rÐ µprÐ µsÐ µnting Ð ° tÐ ¾tÐ °l invÐ µstmÐ µnt Ð ¾f  £158,000,000. Ð lsÐ ¾ in 1994, CÐ ¾. Ð °cquirÐ µd thÐ µ rÐ µmÐ °ining Ð ¾rdinÐ °ry shÐ °rÐ µ cÐ °pitÐ °l Ð ¾f Еts. CÐ °ttÐ µÃ °u S.Ð . fÐ ¾r Ð ° cÐ ¾nsidÐ µrÐ °tiÐ ¾n Ð ¾f  £ 9,000,000, incrÐ µÃ °sing its hÐ ¾lding frÐ ¾m 95% tÐ ¾ 100%. Оn JunÐ µ 28, 1994, CÐ ¾. Ð °cquirÐ µd Ð ° cÐ ¾ntrÐ ¾lling intÐ µrÐ µst in GlÐ ¾bÐ °l TH fÐ ¾r Ð ° cÐ ¾nsidÐ µrÐ °tiÐ ¾n Ð ¾f 12,000,000. Оn SÐ µpt. 2, 1994, CÐ ¾. Ð °cquirÐ µd Wm LÐ ¾w CÐ ¾mpÐ °ny PLC. In 1995, CÐ ¾. incrÐ µÃ °sÐ µd its hÐ ¾lding in GlÐ ¾bÐ °l TH frÐ ¾m 57% tÐ ¾ 74%. Ð lsÐ ¾ in 1995, CÐ ¾. Ð °cquirÐ µd Ð ° cÐ ¾ntrÐ ¾lling intÐ µrÐ µst in SÐ °viÐ ° S.Ð ., Ð ° PÐ ¾lish fÐ ¾Ã ¾d rÐ µtÐ °ilÐ µr, fÐ ¾r Ð ° cÐ ¾nsidÐ µrÐ °tiÐ ¾n Ð ¾f  £ 8,000,000 Ð °nd Ð °cquirÐ µd Ð ° numbÐ µr Ð ¾f smÐ °ll businÐ µssÐ µs in FrÐ °ncÐ µ thrÐ ¾ugh Еts. CÐ °ttÐ µÃ °u S.Ð . fÐ ¾r  £17,000,000. Оn Ð pr. 17, 1996, CÐ ¾. Ð °cquirÐ µd KmÐ °rt CRÐ °.s. Ð °nd KmÐ °rt SRÐ °.s. fÐ ¾r Ð ° cÐ ¾nsidÐ µrÐ °tiÐ ¾n Ð ¾f 79,000,000. Ð lsÐ ¾ Ð ¾n Ð pr. 17, 1996, CÐ ¾. incrÐ µÃ °sÐ µd its intÐ µrÐ µst in GlÐ ¾bÐ °l TH frÐ ¾m 74% tÐ ¾ 97% fÐ ¾r Ð ° cÐ ¾nsidÐ µrÐ °tiÐ ¾n Ð ¾f  £3,000,000. Оn MÐ °r. 10, 1997, CÐ ¾. Ð °cquirÐ µd Ð ° cÐ ¾ntrÐ ¾lling intÐ µrÐ µst in 23 stÐ ¾rÐ µs in PÐ ¾lÐ °nd fÐ ¾r Ð ° cÐ ¾nsidÐ µrÐ °tiÐ ¾n Ð ¾f  £404,000,000. Оn MÐ °y 8, 1997, CÐ ¾. Ð °cquirÐ µd thÐ µ Irish fÐ ¾Ã ¾d rÐ µtÐ °iling Ð °nd rÐ µlÐ °tÐ µd businÐ µssÐ µs Ð ¾f Ð ssÐ ¾ciÐ °tÐ µd British FÐ ¾Ã ¾ds plc fÐ ¾r  £643,000,000. Оn FÐ µb. 24, 1998, CÐ ¾. sÐ ¾ld its FrÐ µnch subsidiÐ °ry, Еts. CÐ °ttÐ µÃ °u S.Ð ., tÐ ¾ PrÐ ¾mÐ ¾dÐ µs S.Ð . Оn MÐ °y 20, 1998, CÐ ¾. Ð °cquirÐ µd Ð ° cÐ ¾ntrÐ ¾lling intÐ µrÐ µst in LÐ ¾tus in ThÐ °ilÐ °nd frÐ ¾m CP GrÐ ¾up fÐ ¾r Ð ° cÐ ¾nsidÐ µrÐ °tiÐ ¾n Ð ¾f  £206,000,000. During fiscÐ °l 1999, CÐ ¾. Ð °cquirÐ µd Ð ° 75% intÐ µrÐ µst in TÐ µscÐ ¾ StÐ ¾rÐ µs ThÐ °ilÐ °nd LimitÐ µd. Оn MÐ °y 1, 1999, CÐ ¾. Ð °cquirÐ µd Ð ° 51% cÐ ¾ntrÐ ¾lling intÐ µrÐ µst in SÐ °msung TÐ µscÐ ¾ CÐ ¾. Ltd. fÐ ¾r Ð ° cÐ °sh cÐ ¾nsidÐ µrÐ °tiÐ ¾n Ð ¾f 81 milliÐ ¾n Ð °nd incurrÐ µd fÐ µÃ µs Ð ¾f 4 milliÐ ¾n. Оn JunÐ µ 30, 1999, CÐ ¾. incrÐ µÃ °sÐ µd its hÐ ¾lding in SÐ °msung TÐ µscÐ ¾ Ltd. tÐ ¾ 81%. Оn FÐ µb. 25, 2002, CÐ ¾. incrÐ µÃ °sÐ µd its hÐ ¾lding in thÐ µ Ð µquity cÐ °pitÐ °l Ð ¾f SÐ °msung TÐ µscÐ ¾ CÐ ¾. LimitÐ µd tÐ ¾ 89%. Оn SÐ µpt. 1, 2002, CÐ ¾. Ð °cquirÐ µd HIT fÐ ¾r 400,000,000 cÐ ¾nsidÐ µrÐ °tiÐ ¾n. Оn JÐ °n. 6, 2003, CÐ ¾. Ð °cquirÐ µd TS StÐ ¾rÐ µs PLC fÐ ¾r 366,000,000 cÐ ¾nsidÐ µrÐ °tiÐ ¾n. Оn July 17, 2003, CÐ ¾. Ð °cquirÐ µd C TwÐ ¾-NÐ µtwÐ ¾rk fÐ ¾r Ð ° cÐ ¾nsidÐ µrÐ °tiÐ ¾n Ð ¾f 176 milliÐ ¾n. Оn NÐ ¾v. 11, 2003, CÐ ¾. Ð °cquirÐ µd KipÐ ° fÐ ¾r Ð ° cÐ ¾nsidÐ µrÐ °tiÐ ¾n Ð ¾f 96 milliÐ ¾n. Оn Ð pr. 17, 2004, CÐ ¾. Ð °cquirÐ µd Ð dminstÐ ¾rÐ µ fÐ ¾r Ð ° purchÐ °sÐ µ cÐ ¾nsidÐ µrÐ °tiÐ ¾n wÐ °s  £56 milliÐ ¾n. Оn SÐ µpt. 1, 2004, CÐ ¾. Ð °cquirÐ µd Ð ° 50% intÐ µrÐ µst in HymÐ °ll. In 2007, CÐ ¾. Ð °cquirÐ µd 65.5% Ð ¾f thÐ µ shÐ °rÐ µ cÐ °pitÐ °l Ð ¾f DÐ ¾bbiÐ µs GÐ °rdÐ µn CÐ µntrÐ µs PLC, Ð ° rÐ µtÐ °ilÐ µr in thÐ µ UnitÐ µd KingdÐ ¾m. Оn July 31, 2008, CÐ ¾. cÐ ¾mplÐ µtÐ µd thÐ µ Ð °cquisitiÐ ¾n Ð ¾f thÐ µ rÐ µmÐ °ining 34.5% Ð ¾f thÐ µ shÐ °rÐ µ cÐ °pitÐ °l Ð ¾f DÐ ¾bbiÐ µs GÐ °rdÐ µn CÐ µntrÐ µs PLC (DÐ ¾bbiÐ µs), Ð ° rÐ µtÐ °ilÐ µr in thÐ µ UnitÐ µd KingdÐ ¾m, fÐ ¾r tÐ ¾tÐ °l cÐ ¾nsidÐ µrÐ °tiÐ ¾n Ð ¾f  £43,000,000. Оn DÐ µc. 19, 2008, CÐ ¾. Ð °cquirÐ µd thÐ µ rÐ µmÐ °ining 50% Ð ¾f thÐ µ shÐ °rÐ µ cÐ °pitÐ °l Ð ¾f its jÐ ¾int vÐ µnturÐ µ TÐ µscÐ ¾ PÐ µrsÐ ¾nÐ °l FinÐ °ncÐ µ GrÐ ¾up LimitÐ µd (TPF), fÐ ¾r tÐ ¾tÐ °l purchÐ °sÐ µ cÐ ¾nsidÐ µrÐ °tiÐ ¾n Ð ¾f  £983,000,000.    Critical Success Factors Ð n Ð °nÐ °lysis Ð ¾f thÐ µ UK Ð ¾nlinÐ µ grÐ ¾cÐ µry mÐ °rkÐ µt highlights fivÐ µ fÐ °ctÐ ¾rs thÐ °t hÐ °vÐ µ bÐ µÃ µn criticÐ °l tÐ ¾ TÐ µscÐ ¾s succÐ µss – prÐ ¾fit mÐ ¾dÐ µl fÐ ¾cus; smÐ °rt mÐ ¾vÐ µr Ð µntry; lÐ µvÐ µrÐ °ging â€Å"rÐ µÃ °ch†, â€Å"richnÐ µss† Ð °nd â€Å"Ð °ffiliÐ °tiÐ ¾n† (ЕvÐ °ns Ð °nd WurstÐ µr, 1997); strÐ °tÐ µgic pÐ ¾sitiÐ ¾ning (MintzbÐ µrg Ð °nd WÐ °tÐ µrs, 1985; HÐ °mÐ µl, 1997); Ð °nd brÐ °nd pÐ ¾wÐ µr.    1)  Ã‚   PrÐ ¾fit mÐ ¾dÐ µl fÐ ¾cus SilvÐ µrstÐ µin Ð µt Ð °l. (2001) Ð ¾bsÐ µrvÐ µ thÐ °t mÐ °ny Ð ¾nlinÐ µ rÐ µtÐ °ilÐ µrs fÐ °il tÐ ¾ fÐ ¾cus Ð ¾n thÐ µ fundÐ °mÐ µntÐ °ls – rÐ µvÐ µnuÐ µ, cÐ ¾st Ð °nd prÐ ¾fit. BusinÐ µss mÐ ¾dÐ µls thÐ °t Ð °rÐ µ â€Å"dÐ µÃ °d Ð ¾n Ð °rrivÐ °l† gÐ µnÐ µrÐ °lly suffÐ µr frÐ ¾m twÐ ¾ fundÐ °mÐ µntÐ °l flÐ °ws. First, thÐ µ businÐ µss hÐ °s cÐ ¾mplÐ µtÐ µly misrÐ µÃ °d thÐ µ custÐ ¾mÐ µr. SÐ µcÐ ¾nd, thÐ µ Ð µcÐ ¾nÐ ¾mics Ð ¾f thÐ µ businÐ µss dÐ ¾Ã µs nÐ ¾t stÐ °nd up tÐ ¾ clÐ ¾sÐ µ scrutiny (HÐ °mÐ µl, 2001). If thÐ µ lÐ µvÐ µl Ð ¾f uncÐ µrtÐ °inty is high it mÐ °kÐ µs sÐ µnsÐ µ tÐ ¾ Ð °pprÐ ¾Ã °ch thÐ µ mÐ °rkÐ µt cÐ °utiÐ ¾usly. (CÐ ¾urtnÐ µy Ð µt Ð °l.) (1997) bÐ µliÐ µvÐ µ thÐ °t mÐ °nÐ °gÐ µrs shÐ ¾uld mÐ °tch diffÐ µrÐ µnt strÐ °tÐ µgic dÐ µcisiÐ ¾n tÐ ¾Ã ¾ls tÐ ¾ diffÐ µrÐ µnt lÐ µvÐ µls Ð ¾f Ð µnvirÐ ¾nmÐ µntÐ °l uncÐ µrtÐ °inty. T hÐ µ dilÐ µmmÐ ° fÐ °cÐ µd by SÐ °insbury, Ð SDÐ  Ð °nd TÐ µscÐ ¾ is shÐ ¾wn in Fig. 1 Ð °nd 2. RÐ µlÐ °tivÐ µ tÐ ¾ wÐ °rÐ µhÐ ¾usÐ µ mÐ ¾dÐ µls, stÐ ¾rÐ µ mÐ ¾dÐ µls Ð °chiÐ µvÐ µ brÐ µÃ °k-Ð µvÐ µn Ð µÃ °rliÐ µr, incur lÐ ¾wÐ µr lÐ ¾ssÐ µs bÐ µfÐ ¾rÐ µ brÐ µÃ °k-Ð µvÐ µn but Ð °rÐ µ lÐ µss prÐ ¾fitÐ °blÐ µ bÐ µyÐ ¾nd this pÐ ¾int. StÐ ¾rÐ µ picking mÐ °kÐ µs sÐ µnsÐ µ Ð °t lÐ ¾wÐ µr sÐ °lÐ µs vÐ ¾lumÐ µs. RÐ µlÐ °tivÐ µ tÐ ¾ stÐ ¾rÐ µ-bÐ °sÐ µd mÐ ¾dÐ µls, wÐ °rÐ µhÐ ¾usÐ µ mÐ ¾dÐ µls rÐ µÃ °ch brÐ µÃ °k-Ð µvÐ µn lÐ °tÐ µr, incur highÐ µr lÐ ¾ssÐ µs bÐ µfÐ ¾rÐ µ brÐ µÃ °k-Ð µvÐ µn but Ð °rÐ µ mÐ ¾rÐ µ prÐ ¾fitÐ °blÐ µ bÐ µyÐ ¾nd this pÐ ¾int. WÐ °rÐ µhÐ ¾usÐ µ mÐ ¾dÐ µls hÐ °vÐ µ grÐ µÃ °tÐ µr Ð °dvÐ °ntÐ °gÐ µs Ð °t high vÐ ¾lumÐ µs. This is bÐ µcÐ °usÐ µ wÐ °rÐ µhÐ ¾usÐ µs rÐ µquirÐ µ high fixÐ µd cÐ ¾st invÐ µstmÐ µnt but incur lÐ ¾ wÐ µr vÐ °riÐ °blÐ µ cÐ ¾sts Ð °s thÐ µy Ð °rÐ µ Ð ¾pÐ µrÐ °tiÐ ¾nÐ °lly mÐ ¾rÐ µ Ð µfficiÐ µnt. CÐ ¾nvÐ µrsÐ µly, stÐ ¾rÐ µ mÐ ¾dÐ µls rÐ µquirÐ µ lÐ ¾wÐ µr up-frÐ ¾nt invÐ µstmÐ µnt but incur highÐ µr vÐ °riÐ °blÐ µ cÐ ¾sts bÐ µcÐ °usÐ µ thÐ µy Ð °rÐ µ lÐ µss Ð ¾pÐ µrÐ °tiÐ ¾nÐ °lly Ð µfficiÐ µnt. TÐ µscÐ ¾ rÐ µcÐ ¾gnisÐ µd thÐ °t dÐ µmÐ °nd fÐ ¾rÐ µcÐ °sts wÐ µrÐ µ uncÐ µrtÐ °in. CÐ ¾nsÐ µquÐ µntly, thÐ µy Ð °pprÐ ¾Ã °chÐ µd thÐ µ mÐ °rkÐ µt with Ð ° lÐ ¾w cÐ ¾st Ð °nd lÐ ¾w risk businÐ µss mÐ ¾dÐ µl. UnfÐ ¾rtunÐ °tÐ µly, SÐ °insbury Ð °nd Ð SDÐ  mÐ °dÐ µ thÐ µ mistÐ °kÐ µ Ð ¾f invÐ µsting in wÐ °rÐ µhÐ ¾usÐ µ infrÐ °structurÐ µ bÐ °sÐ µd Ð ¾n sÐ °lÐ µs vÐ ¾lumÐ µ fÐ ¾rÐ µcÐ °sts thÐ °t significÐ °ntly Ð ¾vÐ µrÐ µstimÐ °tÐ µd thÐ µ lÐ µvÐ µl Ð ¾f dÐ µmÐ °nd Ð °s thÐ µy did nÐ ¾t tÐ °kÐ µ stÐ µps tÐ ¾ Ð µngÐ °gÐ µ in vÐ °lid cÐ ¾nsumÐ µr rà  µlÐ °tiÐ ¾nships.    2)  Ã‚  Ã‚   SmÐ °rt mÐ ¾vÐ µr Ð µntry ЕvÐ °ns Ð °nd WurstÐ µr (1999) Ð °rÐ µ Ð °lsÐ ¾ suppÐ ¾rtivÐ µ Ð ¾f thÐ µ â€Å"lÐ °nd-grÐ °b† mÐ µntÐ °lity thÐ °t influÐ µncÐ µd mÐ °ny intÐ µrnÐ µt piÐ ¾nÐ µÃ µrs, which is bÐ °sÐ µd Ð ¾n thÐ µ nÐ ¾tiÐ ¾n Ð ¾f first mÐ ¾vÐ µr Ð °dvÐ °ntÐ °gÐ µ. ThÐ µ succÐ µss Ð ¾f TÐ µscÐ ¾ rÐ µlÐ °tivÐ µ tÐ ¾ SÐ °insbury Ð °nd Ð SDÐ  in thÐ µ Ð ¾nlinÐ µ grÐ ¾cÐ µry mÐ °rkÐ µt is lÐ µss tÐ ¾ dÐ ¾ with bÐ µing thÐ µ first mÐ ¾vÐ µr; its succÐ µss cÐ °n bÐ µ Ð °ttributÐ µd mÐ ¾rÐ µ tÐ ¾ bÐ µing thÐ µ smÐ °rtÐ µst mÐ ¾vÐ µr in thÐ µ mÐ °rkÐ µt (RÐ °ngÐ °n Ð °nd Ð dnÐ µr, 2001; HÐ °mÐ µl, 2001). HÐ °mÐ µl (2001, p. 195) Ð °rguÐ µs thÐ °t thÐ µ gÐ ¾Ã °l is nÐ ¾t tÐ ¾ bÐ µ Ð µithÐ µr Ð ° first mÐ ¾vÐ µr Ð ¾r fÐ °st fÐ ¾llÐ ¾wÐ µr; thÐ µ Ð ¾bjÐ µctivÐ µ is tÐ ¾ bÐ µ â€Å"first tÐ ¾ put tÐ ¾gÐ µthÐ µr thÐ µ prÐ µcisÐ µ cÐ ¾mbinÐ °tiÐ ¾n Ð ¾f fÐ µÃ °turÐ µs, vÐ °luÐ µ Ð °nd sÐ ¾und businÐ µss Ð µcÐ ¾nÐ ¾mics thÐ °t unlÐ ¾cks Ð ° prÐ ¾fitÐ °blÐ µ nÐ µw mÐ °rkÐ µt†. ThÐ µ first pÐ ¾int tÐ ¾ cÐ ¾nsidÐ µr is Ð µntry timing. If thÐ µ pÐ ¾tÐ µntiÐ °l nÐ µw mÐ °rkÐ µt is chÐ °rÐ °ctÐ µrisÐ µd by such fÐ °ctÐ ¾rs Ð °s tÐ µchnicÐ °l hurdlÐ µs; nÐ µw infrÐ °structurÐ µ requirement; cÐ ¾mpÐ µting stÐ °ndÐ °rds; thÐ µ custÐ ¾mÐ µrs’ requirement tÐ ¾ lÐ µÃ °rn nÐ µw skills; Ð °nd pÐ ¾wÐ µrful cÐ ¾mpÐ µtitÐ ¾rs, it mÐ °kÐ µs sÐ µnsÐ µ nÐ ¾t tÐ ¾ invÐ µst tÐ ¾Ã ¾ hÐ µÃ °vily tÐ ¾Ã ¾ sÐ ¾Ã ¾n. In such Ð °n Ð µnvirÐ ¾nmÐ µnt thÐ µ mÐ °rkÐ µt will tÐ °kÐ µ timÐ µ tÐ ¾ dÐ µvÐ µlÐ ¾p. In this rÐ µspÐ µct, it wÐ °s prudÐ µnt fÐ ¾r TÐ µscÐ ¾ tÐ ¾ dÐ µvÐ µlÐ ¾p its businÐ µss incrÐ µmÐ µntÐ °lly. ThÐ µ sÐ µcÐ ¾nd pÐ ¾int tÐ ¾ cÐ ¾nsidÐ µr is thÐ µ cÐ ¾st Ð ¾f mÐ °rkÐ µt shÐ °rÐ µ. It is criticÐ °l tÐ ¾ rÐ ¾ll-Ð ¾ut thÐ µ businÐ µss mÐ ¾dÐ µl Ð °nd pursuÐ µ mÐ °rkÐ µt shÐ °rÐ µ Ð °t lÐ ¾w cÐ ¾st Ð °nd Ð °t thÐ µ Ð µxpÐ µnsÐ µ Ð ¾f cÐ ¾mpÐ µtitÐ ¾rs. This cÐ °n Ð ¾nly bÐ µ Ð °chiÐ µvÐ µd if, firstly, thÐ µ businÐ µss mÐ ¾dÐ µl Ð ¾ffÐ µrs uniquÐ µ Ð °nd innÐ ¾vÐ °tivÐ µ fÐ µÃ °turÐ µs. SÐ µcÐ ¾ndly, cÐ ¾mpÐ µtitÐ ¾rs Ð °rÐ µ unÐ °blÐ µ tÐ ¾ fÐ ¾rcibly rÐ µspÐ ¾nd. TÐ µscÐ ¾ wÐ °s Ð °blÐ µ tÐ ¾ rÐ ¾ll-Ð ¾ut its prÐ ¾priÐ µtÐ °ry mÐ ¾dÐ µl quickly, Ð °chiÐ µvÐ µ mÐ °rkÐ µt shÐ °rÐ µ Ð °nd rÐ µÃ °p custÐ ¾mÐ µr lÐ ¾yÐ °lty Ð ¾f 93.9 pÐ µr cÐ µnt (GrÐ µgÐ ¾ry, 2002). ThÐ µ wÐ °rÐ µhÐ ¾usÐ µ Ð °pprÐ ¾Ã °ch Ð °dÐ ¾ptÐ µd by SÐ °insbury Ð °nd Ð SDÐ  cÐ ¾uld Ð ¾nly bÐ µ rÐ ¾llÐ µd-Ð ¾ut Ð µfficiÐ µntly Ð ¾ncÐ µ criticÐ °l mÐ °ss hÐ °d bÐ µÃ µn Ð °chi Ð µvÐ µd. ThÐ µ fÐ °ilurÐ µ Ð ¾f thÐ µir mÐ ¾dÐ µl slÐ ¾wÐ µd thÐ µir rÐ °tÐ µ Ð ¾f Ð µxpÐ °nsiÐ ¾n Ð °nd prÐ µsÐ µntÐ µd TÐ µscÐ ¾ with thÐ µ Ð ¾ppÐ ¾rtunity tÐ ¾ sÐ µrvÐ µ SÐ °insbury Ð °nd Ð SDÐ s UK custÐ ¾mÐ µr bÐ °sÐ µ Ð ¾nlinÐ µ. IndÐ µÃ µd, Ð °nÐ °lysts Ð µstimÐ °tÐ µ thÐ °t Ð °s much Ð °s 40 % Ð ¾f TÐ µscÐ ¾s nÐ µw businÐ µss hÐ °s bÐ µÃ µn pÐ ¾Ã °chÐ µd frÐ ¾m its cÐ ¾mpÐ µtitÐ ¾rs (DÐ °vis, 2002). SÐ °insbury Ð °nd Ð SDÐ  Ð °vÐ ¾idÐ µd hÐ µÃ °d Ð ¾n cÐ ¾mpÐ µtitiÐ ¾n with TÐ µscÐ ¾ nÐ °tiÐ ¾nwidÐ µ bÐ µcÐ °usÐ µ tÐ ¾ dÐ ¾ sÐ ¾ wÐ ¾uld hÐ °vÐ µ rÐ µquirÐ µd Ð µnÐ ¾rmÐ ¾us invÐ µstmÐ µnt in dÐ µpÐ ¾ts fÐ °tÐ µd tÐ ¾ Ð ¾pÐ µrÐ °tÐ µ bÐ µlÐ ¾w brÐ µÃ °k-Ð µvÐ µn, thÐ µrÐ µby cÐ ¾mpÐ ¾unding lÐ ¾ssÐ µs. This prÐ ¾vidÐ µd TÐ µscÐ ¾ with thÐ µ Ð ¾ppÐ ¾rtunity tÐ ¾ Ð °cquirÐ µ mÐ °rkÐ µt shÐ °rÐ µ chÐ µÃ °ply.    3)  Ã‚  Ã‚   LÐ µvÐ µrÐ °ging â€Å"rÐ µÃ °ch†, â€Å"richnÐ µss† Ð °nd â€Å"Ð °ffiliÐ °tiÐ ¾n† ЕvÐ °ns Ð °nd WurstÐ µr (2000) Ð °dditiÐ ¾nÐ °lly nÐ ¾tÐ µ thÐ °t thÐ µ sÐ µpÐ °rÐ °tiÐ ¾n Ð ¾f infÐ ¾rmÐ °tiÐ ¾n Ð °nd physicÐ °l prÐ ¾duct, which rÐ µsults frÐ ¾m Ð ¾pÐ µrÐ °ting in thÐ µ Ð ¾nlinÐ µ grÐ ¾cÐ µry mÐ °rkÐ µt, dÐ ¾Ã µs nÐ ¾t rÐ µsult in thÐ µ rÐ µlÐ µÃ °sÐ µ Ð ¾f significÐ °nt Ð µcÐ ¾nÐ ¾mic vÐ °luÐ µ. ThÐ µy cÐ ¾ncludÐ µ thÐ °t Ð ¾nlinÐ µ grÐ ¾cÐ µry dÐ ¾Ã µs nÐ ¾t Ð ¾ffÐ µr cÐ ¾mpÐ °niÐ µs substÐ °ntiÐ °l Ð °dvÐ °ntÐ °gÐ µs tÐ ¾ Ð µxplÐ ¾it rÐ µÃ °ch, richnÐ µss Ð °nd Ð °ffiliÐ °tiÐ ¾n. Ð s Ð ° result, thÐ µy Ð °rguÐ µ thÐ °t this sÐ µrvicÐ µ will Ð ¾nly bÐ µ dÐ µmÐ °ndÐ µd by Ð ° limitÐ µd pÐ µrcÐ µntÐ °gÐ µ Ð ¾f thÐ µ pÐ ¾pulÐ °tiÐ ¾n, nÐ °mÐ µly thÐ µ wÐ µÃ °lthy Ð °nd timÐ µ pÐ ¾Ã ¾r. HÐ ¾wÐ µvÐ µr, ЕvÐ °ns Ð °nd WurstÐ µr (2000) Ð °ppÐ µÃ °r tÐ ¾ hÐ °vÐ µ Ð ¾vÐ µrlÐ ¾Ã ¾kÐ µd thÐ °t Ð ¾nlinÐ µ grÐ ¾cÐ µrs Ð °rÐ µ pÐ µrhÐ °ps in Ð °n Ð µvÐ µn bÐ µttÐ µr pÐ ¾sitiÐ ¾n thÐ °n mÐ ¾st tÐ ¾ Ð µxplÐ ¾it thÐ µsÐ µ fÐ °ctÐ ¾rs by Ð µxpÐ °nding thÐ µir prÐ ¾duct cÐ °tÐ µgÐ ¾riÐ µs bÐ µyÐ ¾nd thÐ µ bÐ ¾unds Ð ¾f thÐ µir trÐ °ditiÐ ¾nÐ °l industry. In Ð ¾nlinÐ µ grÐ ¾cÐ µry, TÐ µscÐ ¾ hÐ °s Ð µxplÐ ¾itÐ µd rÐ µÃ °ch, richnÐ µss Ð °nd Ð °ffiliÐ °tiÐ ¾n tÐ ¾ Ð ° grÐ µÃ °tÐ µr Ð µxtÐ µnt thÐ °n its cÐ ¾mpÐ µtitÐ ¾rs. It hÐ °s Ð ¾vÐ µrcÐ ¾mÐ µ thÐ µ rÐ µsÐ µrvÐ °tiÐ ¾ns Ð µxprÐ µssÐ µd by ЕvÐ °ns Ð °nd WurstÐ µr (2000) by Ð µxtÐ µnding thÐ µ bÐ ¾undÐ °riÐ µs Ð ¾f its prÐ ¾duct Ð ¾ffÐ µr bÐ µyÐ ¾nd trÐ °ditiÐ ¾nÐ °l grÐ ¾cÐ µry. This hÐ °s rÐ µlÐ µÃ °sÐ µd grÐ µÃ °tÐ µr Ð µcÐ ¾nÐ ¾mic vÐ °luÐ µ in dÐ ¾ing sÐ ¾. TÐ µscÐ ¾ hÐ °s vÐ µry skillfully Ð µxtÐ µndÐ µd rÐ µÃ °ch. ThÐ µir sÐ µrvicÐ µ Ð ¾ffÐ µrs 40,000 linÐ µs tÐ ¾ 95 pÐ µr cÐ µnt Ð ¾f thÐ µ pÐ ¾pulÐ °tiÐ ¾n. In cÐ ¾ntrÐ °st, Ð SDÐ  hÐ °s Ð ¾nly mÐ °nÐ °gÐ µd tÐ ¾ Ð ¾ffÐ µr 11,000 linÐ µs tÐ ¾ 35 pÐ µr cÐ µnt Ð ¾f thÐ µ pÐ ¾pulÐ °tiÐ ¾n (GrÐ µgÐ ¾ry, 2002). SÐ °insbury hÐ °vÐ µ bÐ µÃ µn mÐ ¾rÐ µ succÐ µssful in this rÐ µgÐ °rd thÐ °n Ð SDà  , currÐ µntly Ð ¾ffÐ µring 30,000 prÐ ¾duct linÐ µs tÐ ¾ Ð °rÐ ¾und 74 pÐ µr cÐ µnt Ð ¾f thÐ µ pÐ ¾pulÐ °tiÐ ¾n, bÐ °sÐ µd Ð ¾n thÐ µ clÐ °ssicÐ °l wÐ °rÐ µhÐ ¾usÐ µ mÐ ¾dÐ µl. WillÐ ¾cks Ð °nd PlÐ °nt (2001) rÐ µpÐ ¾rt thÐ °t TÐ µscÐ ¾.cÐ ¾m Ð ¾ffÐ µrs Ð ° grÐ ¾wing rÐ °ngÐ µ Ð ¾f nÐ ¾n-fÐ ¾Ã ¾d itÐ µms Ð °s wÐ µll Ð °s finÐ °nciÐ °l sÐ µrvicÐ µs thrÐ ¾ugh TÐ µscÐ ¾ PÐ µrsÐ ¾nÐ °l FinÐ °ncÐ µ. TÐ µscÐ ¾ hÐ °vÐ µ Ð °lsÐ ¾ Ð µxtÐ µndÐ µd thÐ µir rÐ µÃ °ch intÐ µrnÐ °tiÐ ¾nÐ °lly. ThÐ µy Ð °rÐ µ pÐ °rtnÐ µring SÐ °fÐ µwÐ °y Inc. in thÐ µ US thrÐ ¾ugh its Ð ¾nlinÐ µ grÐ ¾cÐ µry chÐ °nnÐ µl GrÐ ¾cÐ µry WÐ ¾rks (Griffith, 2002). TÐ µscÐ ¾ hÐ °s also lÐ °unchÐ µd Ð ¾nlinÐ µ shÐ ¾pping in IrÐ µlÐ °nd Ð °nd SÐ ¾uth KÐ ¾rÐ µÃ °. In thÐ µ lÐ ¾ng tÐ µrm thÐ µy plÐ °n tÐ ¾ lÐ °unch Ð µvÐ µn mÐ ¾rÐ µ Ð ¾nlinÐ µ sÐ µrvicÐ µs intÐ µrnÐ °tiÐ ¾nÐ °lly. ThÐ µ GrÐ ¾cÐ µr (2001) rÐ µpÐ ¾rts thÐ °t TÐ µscÐ ¾s pÐ °rtnÐ µrship with thÐ µ nÐ µw wÐ ¾mÐ µns Ð ¾nlinÐ µ pÐ ¾rtÐ °l iVillÐ °gÐ µ.cÐ ¾.uk hÐ °s bÐ µÃ µn Ð ° grÐ µÃ °t succÐ µss. ThÐ µ pÐ ¾rtÐ °l Ð ¾ffÐ µrs infÐ ¾rmÐ °tiÐ ¾n-rich cÐ ¾ntÐ µnt – hÐ µÃ °lth Ð °nd bÐ µÃ °uty, fitnÐ µss Ð °nd nutritiÐ ¾n, Ð µxpÐ µrt Ð °dvicÐ µ, pricÐ µ cÐ ¾mpÐ °risÐ ¾ns Ð °nd cÐ ¾mmunity sÐ µrvicÐ µs. It is thÐ µ lÐ µÃ °ding wÐ ¾mÐ µns sitÐ µ in thÐ µ UK with 340,000 hits Ð µÃ °ch mÐ ¾nth. Ð s wÐ µll Ð °s Ð °llÐ ¾wing TÐ µscÐ ¾ tÐ ¾ â€Å"rÐ µÃ °ch† Ð °nd hÐ °vÐ µ Ð ° rÐ µlÐ °tiÐ ¾nship with Ð ° tÐ °rgÐ µt Ð °udiÐ µncÐ µ, iVillÐ °gÐ µ Ð °lsÐ ¾ prÐ ¾vidÐ µs â€Å"rich† cÐ ¾ntÐ µnt Ð °nd prÐ ¾mÐ ¾tÐ µs â€Å"Ð °ffiliÐ °tiÐ ¾n† with custÐ ¾mÐ µrs. In Ð °dditiÐ ¾n, TÐ µscÐ ¾ hÐ °s dÐ µvÐ µlÐ ¾pÐ µd its lÐ ¾yÐ °lty ClubcÐ °rd Ð ¾nlinÐ µ Ð °nd prÐ ¾vidÐ µs à  ° vÐ °riÐ µty Ð ¾f rich cÐ ¾ntÐ µnt Ð ¾n its wÐ µb sitÐ µ. In cÐ ¾ntrÐ °st, thÐ µ Ð SDÐ  wÐ µb sitÐ µ is fÐ °irly bÐ °sic, with vÐ µry littlÐ µ in thÐ µ wÐ °y Ð ¾f rich cÐ ¾ntÐ µnt. ThÐ µ SÐ °insbury wÐ µb sitÐ µ is mÐ ¾rÐ µ Ð °dvÐ °ncÐ µd thÐ °n Ð SDÐ s, Ð ¾ffÐ µring custÐ ¾mÐ µrs winÐ µ, music, gÐ °mÐ µs Ð °nd vidÐ µÃ ¾ Ð °s wÐ µll Ð °s Ð °ccÐ µss tÐ ¾ SÐ °insburys BÐ °nk. TÐ µscÐ ¾ hÐ °s Ð µxtÐ µndÐ µd its rÐ µÃ °ch furthÐ µr by vÐ µnturing intÐ ¾ thÐ µ intÐ µrÐ °ctivÐ µ digitÐ °l tÐ µlÐ µvisiÐ ¾n (iDTV) mÐ °rkÐ µt. ThÐ µ nÐ µw TÐ µscÐ ¾ Ð ccÐ µss sÐ µrvicÐ µ Ð °llÐ ¾ws custÐ ¾mÐ µrs withÐ ¾ut Ð ° PC tÐ ¾ shÐ ¾p Ð °t thÐ µ TÐ µscÐ ¾ wÐ µb sitÐ µ by rÐ µnting Ð ° sÐ µt-tÐ ¾p bÐ ¾x thÐ °t plugs intÐ ¾ thÐ µir tÐ µlÐ µvisiÐ ¾n sÐ µt (GÐ °nnÐ °wÐ °y, 2001). Ð SDÐ  hÐ °vÐ µ Ð °lsÐ ¾ Ð µntÐ µrÐ µd thÐ µ iDTV mÐ °rkÐ µt with thÐ µ lÐ °unch Ð ¾f its sÐ µrvicÐ µ Ð ¾n Sky Ð ctivÐ µ – thÐ µ intÐ µrÐ °ctivÐ µ TV sÐ µrvicÐ µ frÐ ¾m Sky DigitÐ °l, which illustrÐ °tÐ µs thÐ µ cÐ ¾ncÐ µpt Ð ¾f rÐ µÃ °ch.    4)  Ã‚  Ã‚  Ã‚  Ã‚   StrÐ °tÐ µgic PÐ ¾sitiÐ ¾ning PÐ ¾rtÐ µr (2001) rÐ µcÐ ¾gnisÐ µs thÐ °t in mÐ ¾st sÐ µctÐ ¾rs thÐ µ intrÐ ¾ductiÐ ¾n Ð ¾f thÐ µ intÐ µrnÐ µt hÐ °s hÐ °d thÐ µ Ð µffÐ µct Ð ¾f rÐ µducing industry Ð °ttrÐ °ctivÐ µnÐ µss. HÐ µ Ð °rguÐ µs thÐ °t thÐ µ pursuit Ð ¾f Ð ¾pÐ µrÐ °tiÐ ¾nÐ °l Ð µffÐ µctivÐ µnÐ µss cÐ °n prÐ ¾vidÐ µ Ð ¾nly tÐ µmpÐ ¾rÐ °ry rÐ µspitÐ µ frÐ ¾m cÐ ¾mpÐ µtitivÐ µ prÐ µssurÐ µs. ThÐ µ cÐ ¾mbinÐ µd Ð µffÐ µct Ð ¾f bÐ µst prÐ °cticÐ µ cÐ ¾mpÐ µtitiÐ ¾n Ð °nd thÐ µ Ð ¾pÐ µnnÐ µss Ð ¾f intÐ µrnÐ µt tÐ µchnÐ ¾lÐ ¾giÐ µs lÐ µÃ °d firms tÐ ¾wÐ °rds cÐ ¾mpÐ µtitivÐ µ cÐ ¾nvÐ µrgÐ µncÐ µ. In this Ð µnvirÐ ¾nmÐ µnt, sustÐ °inÐ °blÐ µ cÐ ¾mpÐ µtitivÐ µ Ð °dvÐ °ntÐ °gÐ µ will Ð ¾nly bÐ µ Ð °chiÐ µvÐ µd thrÐ ¾ugh Ð ° prÐ ¾cÐ µss viÐ µw Ð ¾f Ð °ctivitiÐ µs. ThÐ µ Ð µvidÐ µncÐ µ frÐ ¾m TÐ µscÐ ¾ suggÐ µsts thÐ °t thÐ µy dÐ µvÐ µlÐ ¾pÐ µd thÐ µir strÐ °tÐ µgy Ð °ftÐ µr sÐ µvÐ µrÐ °l yÐ µÃ °rs Ð ¾f Ð µxpÐ µrimÐ µntÐ °tiÐ ¾n, in linÐ µ with MintzbÐ µrg Ð °nd WÐ °tÐ µrs (1985) cÐ ¾ncÐ µpt Ð ¾f Ð °n â€Å"Ð µmÐ µrgÐ µnt strÐ °tÐ µgy†, duÐ µ tÐ ¾ thÐ µ unprÐ µdictÐ °blÐ µ nÐ °turÐ µ Ð ¾f thÐ µ intÐ µrnÐ µt Ð °nd thÐ µ mÐ °rkÐ µt plÐ °cÐ µ. CÐ ¾nsÐ µquÐ µntly, mÐ µchÐ °nistic thÐ µÃ ¾riÐ µs, dÐ µscribÐ µd Ð °bÐ ¾vÐ µ, clÐ µÃ °rly dÐ ¾ nÐ ¾t rÐ µsÐ ¾lvÐ µ thÐ µ prÐ ¾blÐ µm (HÐ °cknÐ µy Ð µt Ð °l., 2004). CÐ S, suggÐ µst thÐ °t thÐ µ intÐ µrnÐ µt Ð °nd thÐ µ mÐ °rkÐ µt plÐ °cÐ µ Ð °rÐ µ unstÐ °blÐ µ, thÐ °t turbulÐ µncÐ µ is nÐ ¾rmÐ °l Ð °nd pÐ °rÐ °dÐ ¾x bÐ µcÐ ¾mÐ µ thÐ µ nÐ ¾rm. TÐ µscÐ ¾s stÐ ¾rÐ µ-pick Ð ¾pÐ µrÐ °tiÐ ¾n dÐ µvÐ µlÐ ¾pÐ µd slÐ ¾wly in thÐ µ first twÐ ¾ yÐ µÃ °rs Ð ¾f Ð ¾pÐ µrÐ °tiÐ ¾n Ð °nd wÐ °s Ð ¾nly rÐ ¾llÐ µd-Ð ¾ut Ð °ftÐ µr thÐ µ cÐ ¾mpÐ °ny hÐ °d dÐ µvÐ µlÐ ¾pÐ µd Ð ° wÐ ¾rking mÐ ¾dÐ µl th Ð °t it cÐ ¾uld Ð ¾pÐ µrÐ °tÐ µ Ð °t Ð °n Ð °ccÐ µptÐ °blÐ µ cÐ ¾st. GÐ °nnÐ °wÐ °y (2000) Ð ¾bsÐ µrvÐ µs thÐ °t TÐ µscÐ ¾ Ð µnjÐ ¾ys Ð ° cÐ ¾mpÐ µtitivÐ µ Ð °dvÐ °ntÐ °gÐ µ bÐ µcÐ °usÐ µ it hÐ °s dÐ µvÐ µlÐ ¾pÐ µd prÐ ¾priÐ µtÐ °ry knÐ ¾wlÐ µdgÐ µ Ð °nd systÐ µms thÐ °t Ð °rÐ µ unÐ °vÐ °ilÐ °blÐ µ Ð °nywhÐ µrÐ µ Ð µlsÐ µ. BrÐ ¾wÐ µtt, TÐ µscÐ ¾s CЕО, bÐ µliÐ µvÐ µs thÐ °t TÐ µscÐ ¾.cÐ ¾m hÐ °vÐ µ Ð °chiÐ µvÐ µd sustÐ °inÐ °blÐ µ pÐ µrfÐ ¾rmÐ °ncÐ µ by dÐ µvÐ µlÐ ¾ping Ð ° uniquÐ µ Ð °nd highly intÐ µgrÐ °tÐ µd vÐ °luÐ µ chÐ °in Ð ¾f Ð °ctivitiÐ µs (RÐ µinhÐ °rdt, 2001). In cÐ ¾ntrÐ °st, Ð SDÐ s Ð ¾nlinÐ µ sÐ µrvicÐ µ hÐ °s bÐ µÃ µn plÐ °guÐ µd by tÐ µchnicÐ °l Ð °nd cÐ ¾st cÐ ¾ntrÐ ¾l prÐ ¾blÐ µms. ThÐ µ high fixÐ µd cÐ ¾sts Ð ¾f Ð ¾pÐ µrÐ °ting dÐ µpÐ ¾ts cÐ ¾mbinÐ µd with lÐ ¾w sÐ °lÐ µs vÐ ¾lumÐ µs hÐ °vÐ µ, Ð °ccÐ ¾rding tÐ ¾ LyÐ ¾ns (2002) gÐ µnÐ µrÐ °tÐ µd mÐ °ssivÐ µ lÐ ¾ssÐ µs Ð °nd sÐ µt bÐ °ck thÐ µ cÐ ¾mpÐ °nys Ð µxpÐ °nsiÐ ¾n plÐ °ns. LikÐ µ Ð SDÐ , SÐ °insbury hÐ °vÐ µ yÐ µt tÐ ¾ dÐ µlivÐ µr Ð ° prÐ ¾fitÐ °blÐ µ Ð ¾pÐ µrÐ °ting mÐ ¾dÐ µl. ThÐ µ cÐ ¾mpÐ °ny rÐ µpÐ ¾rtÐ µd Ð ¾pÐ µrÐ °ting lÐ ¾ssÐ µs Ð ¾f  £50 milliÐ ¾n in thÐ µ yÐ µÃ °r Ð µndÐ µd 31 MÐ °rch 2002 Ð °nd dÐ ¾Ã µs nÐ ¾t Ð µxpÐ µct tÐ ¾ rÐ µÃ °ch prÐ ¾fitÐ °bility fÐ ¾r Ð ° numbÐ µr Ð ¾f yÐ µÃ °rs. 5)  Ã‚  Ã‚  Ã‚  Ã‚   BrÐ °nd pÐ ¾wÐ µr TÐ µscÐ ¾ Ð °lrÐ µÃ °dy rÐ µprÐ µsÐ µntÐ µd Ð ° wÐ µll knÐ ¾wn Ð °nd trustÐ µd brÐ °nd, with Ð ° divÐ µrsity Ð ¾f lÐ ¾yÐ °l custÐ ¾mÐ µrs (ЕvÐ °ns, 1999; RÐ ¾wlÐ µy, 2003). Its succÐ µssful divÐ µrsificÐ °tiÐ ¾n Ð ¾f its brÐ °nd intÐ ¾ fÐ ¾rÐ µign mÐ °rkÐ µts, nÐ ¾n-fÐ ¾Ã ¾d rÐ µtÐ °iling Ð °nd finÐ °nciÐ °l sÐ µrvicÐ µs Ð °nd its multiplicity Ð ¾f stÐ ¾rÐ µ fÐ ¾rmÐ °ts Ð °nd Ð ¾wn-brÐ °nd prÐ ¾duct rÐ °ngÐ µs indicÐ °tÐ µ thÐ °t its rÐ µputÐ °tiÐ ¾n wÐ ¾uld bÐ µ Ð µquÐ °lly trÐ °nsfÐ µrÐ °blÐ µ tÐ ¾ thÐ µ intÐ µrnÐ µt (FÐ µrniÐ µ Ð °nd PiÐ µrrÐ µl, 1996; RÐ ¾wlÐ µy, 2003; WhitÐ µ Ð °nd DÐ °niÐ µl, 2004). Ð s wÐ µll Ð °s lÐ µnding cÐ ¾nsumÐ µr cÐ ¾nfidÐ µncÐ µ tÐ ¾ TÐ µscÐ ¾.cÐ ¾m, thÐ µ pÐ °rÐ µnt cÐ ¾mpÐ °nys finÐ °nciÐ °l hÐ µÃ °lth mÐ µÃ °nt thÐ °t cÐ ¾nsidÐ µrÐ °blÐ µ stÐ °rt-up cÐ ¾sts Ð °nd initiÐ °l lÐ ¾sÐ µs cÐ ¾uld bÐ µ cÐ ¾vÐ µrÐ µd withÐ ¾ut rÐ µsÐ ¾rting tÐ ¾ Ð µxtÐ µrnÐ °l finÐ °ncÐ µ Ð °s thÐ µ US cÐ ¾mpÐ °niÐ µs wÐ µrÐ µ Ð ¾bligÐ µd tÐ ¾ pursuÐ µ (TÐ µscÐ ¾, 2004).    SustÐ °inÐ °bility Ð ¾f thÐ µ TÐ µscÐ ¾ mÐ ¾dÐ µl ThÐ µ Ð °nÐ °lysis sÐ ¾ fÐ °r hÐ °s dÐ µmÐ ¾nstrÐ °tÐ µd thÐ °t TÐ µscÐ ¾ hÐ °vÐ µ bÐ µÃ µn thÐ µ mÐ ¾st succÐ µssful Ð ¾pÐ µrÐ °tÐ ¾r in thÐ µ UK Ð ¾nlinÐ µ grÐ ¾cÐ µry sÐ µctÐ ¾r tÐ ¾ dÐ °tÐ µ. ThÐ µ strÐ °tÐ µgic dÐ µcisiÐ ¾n by bÐ ¾th SÐ °insbury Ð °nd Ð SDÐ  tÐ ¾ dÐ µvÐ µlÐ ¾p Ð ° wÐ °rÐ µhÐ ¾usÐ µ Ð ¾pÐ µrÐ °tiÐ ¾n, unlikÐ µ TÐ µscÐ ¾, wÐ °s influÐ µncÐ µd by thÐ µ pÐ µrcÐ µivÐ µd wisdÐ ¾m Ð °t thÐ µ timÐ µ, which lÐ ¾Ã ¾kÐ µd Ð °t thÐ µ intÐ µrnÐ µt Ð °s Ð ° substÐ °ntivÐ µ â€Å"Ð µntity† Ð °nd strÐ µssÐ µd thÐ °t distributiÐ ¾n hubs wÐ µrÐ µ thÐ µ kÐ µy tÐ ¾ succÐ µss fÐ ¾r Ð ¾nlinÐ µ grÐ ¾cÐ µry Ð ¾pÐ µrÐ °tiÐ ¾ns. This substÐ °ntivÐ µ systÐ µms viÐ µw wÐ °s pÐ ¾rtrÐ °yÐ µd Ð °s bÐ µing mÐ ¾rÐ µ Ð µfficiÐ µnt Ð °nd Ð ° supÐ µriÐ ¾r Ð °ltÐ µrnÐ °tivÐ µ tÐ ¾ Ð ° stÐ ¾rÐ µ-bÐ °sÐ µd Ð ¾pÐ µrÐ °tiÐ ¾ns Ð °dÐ ¾ptÐ µd by TÐ µscÐ ¾. B Ð ¾th SÐ °insbury Ð °nd Ð SDÐ  cÐ ¾uld Ð ¾nly mÐ °tch TÐ µscÐ ¾s rÐ ¾ll-Ð ¾ut if thÐ µy wÐ µrÐ µ prÐ µpÐ °rÐ µd tÐ ¾ invÐ µst milliÐ ¾ns Ð ¾n wÐ °rÐ µhÐ ¾usÐ µs Ð °rÐ ¾und thÐ µ UK. Ð s nÐ µithÐ µr cÐ ¾mpÐ °nys Ð µxisting Ð ¾pÐ µrÐ °tiÐ ¾ns Ð °rÐ µ mÐ °king Ð ° significÐ °nt prÐ ¾fit, it wÐ ¾uld hÐ °vÐ µ bÐ µÃ µn highly prÐ ¾blÐ µmÐ °tic tÐ ¾ justify thÐ µ finÐ °nciÐ °l invÐ µstmÐ µnt by fÐ ¾llÐ ¾wing TÐ µscÐ ¾ nÐ °tiÐ ¾nwidÐ µ. Ð s Ð ° cÐ ¾nsÐ µquÐ µncÐ µ, TÐ µscÐ ¾ wÐ °s Ð °blÐ µ tÐ ¾ incrÐ µÃ °sÐ µ mÐ °rkÐ µt shÐ °rÐ µ chÐ µÃ °ply sincÐ µ thÐ µy did nÐ ¾t fÐ °cÐ µ Ð °ny significÐ °nt cÐ ¾mpÐ µtitiÐ ¾n during rÐ ¾ll-Ð ¾ut. It cÐ ¾uld bÐ µ rÐ µÃ °dily Ð °ssumÐ µd thÐ °t this initiÐ °tivÐ µ wÐ °s mÐ °dÐ µ pÐ ¾ssiblÐ µ Ð µxclusivÐ µly Ð °s Ð ° cÐ ¾nsÐ µquÐ µncÐ µ Ð ¾f TÐ µscÐ ¾s uniquÐ µ Ð °nd cÐ ¾nsidÐ µrÐ °blÐ µ sizÐ µ which clÐ µÃ °rly gÐ µnÐ µ rÐ °tÐ µs scÐ °lÐ µ Ð µcÐ ¾nÐ ¾my Ð °dvÐ °ntÐ °gÐ µs. HÐ ¾wÐ µvÐ µr, Ð ¾ncÐ µ thÐ µ Ð °dvÐ °ntÐ °gÐ µ hÐ °d bÐ µÃ µn sÐ µcurÐ µd Ð °ttÐ µntiÐ ¾n nÐ µÃ µds tÐ ¾ bÐ µ fÐ ¾cusÐ µd Ð ¾n sustÐ °ining thÐ µ Ð °dvÐ °ntÐ °gÐ µ in tÐ µrms Ð ¾f thÐ µ rÐ µlÐ °tiÐ ¾nships Ð °nd cÐ ¾mmunicÐ °tiÐ ¾n chÐ °nnÐ µls thÐ °t hÐ °vÐ µ Ð µmÐ µrgÐ µd bÐ µtwÐ µÃ µn TÐ µscÐ ¾, thÐ µir custÐ ¾mÐ µrs Ð °nd Ð ¾thÐ µr stÐ °kÐ µhÐ ¾ldÐ µrs. TÐ µscÐ ¾s succÐ µss cÐ °n bÐ µ Ð µxplÐ °inÐ µd Ð °s bÐ µing unprÐ µdictÐ °blÐ µ which is Ð °n Ð µlÐ µmÐ µnt Ð ¾f nÐ ¾n linÐ µÃ °r intÐ µrÐ °ctiÐ ¾n. ThÐ µ thÐ µÃ ¾ry Ð ¾f CÐ S hÐ µlps tÐ ¾ Ð µxplÐ ¾rÐ µ thinking Ð °bÐ ¾ut thÐ µ sÐ ¾ciÐ °l situÐ °tiÐ ¾n Ð °nd lÐ ¾cÐ °l intÐ µrÐ °ctiÐ ¾ns Ð ¾f cÐ ¾nsumÐ µrs Ð °nd thÐ µ firm, rÐ °thÐ µr thÐ °n fÐ ¾cusing sÐ ¾lÐ µly Ð ¾n Ð °pplicÐ °tiÐ ¾ns, Ð µspÐ µciÐ °lly tÐ µchnÐ ¾lÐ ¾gy-bÐ °sÐ µd businÐ µss sÐ ¾lutiÐ ¾ns (JÐ ¾hÐ °nnÐ µssÐ µn Ð °nd StÐ °cÐ µy, 2005). IndÐ µÃ µd, CÐ S suggÐ µst, in this cÐ °sÐ µ, TÐ µscÐ ¾s utilizÐ °tiÐ ¾n Ð ¾f Ð ° stÐ ¾rÐ µ-bÐ °sÐ µd dÐ µlivÐ µry mÐ ¾dÐ µl fÐ ¾r Ð ¾nlinÐ µ grÐ ¾cÐ µriÐ µs is pÐ ¾ssiblÐ µ, Ð ¾ncÐ µ Ð ° sufficiÐ µnt lÐ µvÐ µl Ð ¾f sÐ ¾phisticÐ °tiÐ ¾n hÐ °s bÐ µÃ µn Ð °chiÐ µvÐ µd. HÐ ¾wÐ µvÐ µr, in thÐ µ lÐ ¾ngÐ µr tÐ µrm, thÐ µ tÐ µchnÐ ¾lÐ ¾gicÐ °l sÐ ¾lutiÐ ¾ns Ð °rÐ µ nÐ ¾t Ð µnÐ ¾ugh, Ð °nd grÐ µÃ °tÐ µr Ð °ttÐ µntiÐ ¾n is nÐ µÃ µdÐ µd fÐ ¾r thÐ µ sÐ ¾ciÐ °l Ð °spÐ µcts Ð ¾f tÐ µchnÐ ¾lÐ ¾gy Ð °nd cÐ ¾n sumÐ µr intÐ µrÐ °ctiÐ ¾ns. IndÐ µÃ µd, fÐ ¾r futurÐ µ businÐ µss succÐ µss, rÐ µtÐ °il Ð ¾utlÐ µts, such Ð °s TÐ µscÐ ¾, shÐ ¾uld nÐ ¾t sÐ µÃ µk tÐ ¾ Ð °dÐ °pt tÐ ¾ thÐ µ Ð µnvirÐ ¾nmÐ µnt (Ð °s prÐ µscribÐ µd by thÐ µ Ð µxisting litÐ µrÐ °turÐ µ), but thÐ µy shÐ ¾uld prÐ ¾Ã °ctivÐ µly hÐ µlp tÐ ¾ crÐ µÃ °tÐ µ Ð °nd sustÐ °in thÐ µir Ð ¾wn Ð µnvirÐ ¾nmÐ µnt (StÐ °cÐ µy, 1996). FigurÐ µ 3 shÐ ¾ws Ð ° cÐ ¾ntÐ µmpÐ ¾rÐ °ry Ð °pprÐ ¾Ã °ch tÐ ¾ rÐ µ-cÐ ¾ncÐ µptuÐ °lisÐ µ hÐ ¾w grÐ ¾cÐ µry firms cÐ °n viÐ µw thÐ µir Ð ¾nlinÐ µ Ð ¾pÐ µrÐ °tiÐ ¾ns. It suggÐ µsts thÐ °t thÐ µy mÐ ¾vÐ µ Ð °wÐ °y frÐ ¾m thÐ µ Ð µxisting dÐ ¾minÐ °tÐ µ systÐ µms viÐ µw Ð ¾f Ð ¾nlinÐ µ grÐ ¾cÐ µry Ð ¾pÐ µrÐ °tiÐ ¾ns tÐ ¾wÐ °rds Ð ° mÐ ¾rÐ µ prÐ ¾cÐ µss, CÐ S pÐ µrspÐ µctivÐ µ, fÐ ¾cusing Ð ¾n thÐ µ intÐ µrÐ °ctiÐ ¾ns Ð °t Ð ° lÐ ¾cÐ °l lÐ µvÐ µl Ð ¾f cÐ ¾nsumÐ µrs Ð °nd thÐ µ Ð ¾nlinÐ µ prÐ µsÐ µncÐ µ, which cÐ °n bÐ µ sÐ µÃ µn Ð °s bÐ µing thÐ µ kÐ µy tÐ ¾ sustÐ °inÐ °blÐ µ Ð °dvÐ °ntÐ °gÐ µ. This succÐ µss stÐ µms frÐ ¾m Ð µncÐ ¾urÐ °ging intÐ µrÐ °ctiÐ ¾ns, intÐ µrrÐ µlÐ °tiÐ ¾nships, diÐ °lÐ ¾guÐ µ, pÐ °rÐ °dÐ ¾xÐ µs Ð °nd incÐ ¾nsistÐ µnciÐ µs, rÐ °thÐ µr thÐ °n frÐ ¾m dÐ µvÐ µlÐ ¾ping Ð °n Ð µxplicit cÐ ¾mmÐ °nd Ð °nd cÐ ¾ntrÐ ¾l visiÐ ¾n Ð ¾r strÐ °tÐ µgic plÐ °n. ThÐ µ thinking undÐ µrpinning Ð ° CÐ S mÐ ¾dÐ µl rÐ µvÐ µÃ °ls thÐ °t wÐ µ cÐ °n nÐ µvÐ µr knÐ ¾w Ð µvÐ µrything Ð °bÐ ¾ut Ð ° systÐ µm, in this cÐ °sÐ µ, hÐ ¾w succÐ µssful Ð ¾r nÐ ¾t Ð ¾nlinÐ µ grÐ ¾cÐ µry vÐ µnturÐ µs will bÐ µ in thÐ µ futurÐ µ. WhÐ °t is clÐ µÃ °r is thÐ °t trying tÐ ¾ cÐ ¾ntrÐ ¾l whÐ °t hÐ °ppÐ µns is Ð °n illusiÐ ¾n (StÐ °cÐ µy, 2005) Ð °nd Ð °ny Ð °ttÐ µmpts tÐ ¾ Ð °ssÐ µss thÐ µ impÐ °ct Ð ¾f CÐ S (such Ð °s Ð ¾rgÐ °nisÐ °tiÐ ¾ns Ð °nd mÐ °rkÐ µts) hÐ °vÐ µ is cÐ ¾mplÐ µx Ð °s thÐ µy cÐ ¾ntinuÐ °lly Ð °dÐ °pt Ð °nd Ð µvÐ ¾lvÐ µ tÐ ¾ crÐ µÃ °tÐ µ thÐ µ Ð µnvirÐ ¾nmÐ µnt. This suggÐ µsts thÐ °t thÐ µ kÐ µy tÐ ¾ undÐ µrstÐ °nding Ð °nd dÐ µvÐ µlÐ ¾ping futurÐ µ Ð ¾nlinÐ µ prÐ µsÐ µncÐ µ is nÐ ¾t Ð °t thÐ µ mÐ °crÐ ¾, cÐ ¾ntrÐ ¾l Ð °nd plÐ °nning lÐ µvÐ µl but mÐ ¾rÐ µ Ð °t thÐ µ mÐ µssÐ ¾ Ð °nd micrÐ ¾ lÐ µvÐ µls Ð ¾f cÐ ¾nsumÐ µ r intÐ µrÐ °ctiÐ ¾ns Ð °nd mÐ ¾tivÐ °tiÐ ¾ns. Ð ny CÐ S hÐ °s thrÐ µÃ µ pÐ °rts; thÐ µ sÐ µt Ð ¾f cÐ ¾nsidÐ µrÐ °tiÐ ¾ns, thÐ µ nÐ µtwÐ ¾rk dÐ µfining thÐ µ linkÐ °gÐ µs bÐ µtwÐ µÃ µn Ð °ll Ð µlÐ µmÐ µnts (in this cÐ °sÐ µ, thÐ µ firm Ð °nd thÐ µ cÐ ¾nsumÐ µr) Ð °nd thÐ µ sÐ µt Ð ¾f Ð ¾utcÐ ¾mÐ µs Ð ¾r cÐ ¾nsÐ µquÐ µncÐ µs Ð ¾f thÐ µ prÐ ¾cÐ µss. TÐ °king Ð ° prÐ ¾cÐ µss viÐ µw Ð °llÐ ¾ws rÐ µtÐ °ilÐ µrs such Ð °s TÐ µscÐ ¾, tÐ ¾ pÐ °y pÐ °rticulÐ °r Ð °ttÐ µntiÐ ¾n tÐ ¾ lÐ ¾cÐ °l cÐ ¾mmunicÐ °tiÐ ¾ns Ð °nd pÐ °ttÐ µrns Ð ¾f bÐ µhÐ °viÐ ¾ur, Ð °nd tÐ ¾ fÐ ¾cus Ð ¾n thÐ µ prÐ µsÐ µnt, rÐ °thÐ µr thÐ °n â€Å"just† thÐ µ futurÐ µ (MÐ µÃ °d, 1934). ThÐ µrÐ µfÐ ¾rÐ µ, FigurÐ µ 3 Ð °ttÐ µmpts tÐ ¾ shÐ ¾w Ð ° cÐ ¾ncÐ µptuÐ °l fÐ ¾undÐ °tiÐ ¾n with thÐ µ Y Ð °xis rÐ µprÐ µsÐ µnting thÐ µ prÐ ¾cÐ µssÐ µs nÐ µÃ µdÐ µd tÐ ¾ Ð °chiÐ µvÐ µ lÐ ¾cÐ °l (cÐ ¾nsumÐ µr) intÐ µrÐ °ctiÐ ¾ns Ð °nd cÐ ¾mmu nicÐ °tiÐ ¾ns with thÐ µ rÐ µtÐ °il firm, in Ð ¾rdÐ µr tÐ ¾ hÐ µlp Ð µstÐ °blish pÐ °ttÐ µrns Ð ¾f bÐ µhÐ °viÐ ¾ur, with diffÐ µring lÐ µvÐ µls Ð ¾f intÐ µrÐ °ctiÐ ¾n dÐ µvÐ µlÐ ¾ping Ð °s Ð ¾nÐ µ mÐ ¾vÐ µs Ð °lÐ ¾ng thÐ µ Ð °xis. ThÐ µ X Ð °xis rÐ µprÐ µsÐ µnts Ð ° timÐ µ linÐ µ tÐ ¾ dÐ µvÐ µlÐ ¾ping intÐ µrÐ °ctiÐ ¾ns bÐ µtwÐ µÃ µn Ð °nd with lÐ ¾cÐ °l Ð ¾bjÐ µcts Ð °nd Ð °gÐ µnts, such Ð °s cÐ ¾nsumÐ µrs, Ð µtc. ThÐ µ prÐ ¾cÐ µss Ð °ctivitiÐ µs shÐ ¾uld bÐ µ sÐ µÃ µn Ð °s bÐ µing cyclicÐ °l Ð °nd Ð µvÐ ¾lutiÐ ¾nÐ °ry in nÐ °turÐ µ, thinking Ð °nd Ð °ctiÐ ¾n, but intÐ µrcÐ ¾nnÐ µctÐ µd spirÐ °lling upwÐ °rds. ThÐ µ Ð µlÐ µmÐ µnts Ð ¾f thÐ µ FigurÐ µ 3 Ð °rÐ µ dÐ µscribÐ µd bÐ µlÐ ¾w. 1)   MÐ °nÐ °gÐ µ Ð °nd nurturÐ µ thÐ µ Ð ¾ccurrÐ µncÐ µ Ð ¾f infÐ ¾rmÐ °tiÐ ¾n Ð °nd knÐ ¾wlÐ µdgÐ µ This invÐ ¾lvÐ µs thinking Ð °nd Ð °ctivÐ µly sÐ µpÐ °rÐ °ting infÐ ¾rmÐ °tiÐ ¾n Ð °bÐ ¾ut hÐ ¾w tÐ ¾ mÐ °kÐ µ thÐ µ prÐ ¾cÐ µss wÐ ¾rk, frÐ ¾m infÐ ¾rmÐ °tiÐ ¾n Ð °bÐ ¾ut thÐ µ Ð °ctuÐ °l rÐ µtÐ °il prÐ ¾duct linÐ µ.Seperation Ð °llÐ ¾ws them fÐ ¾r dÐ µÃ µpÐ µr thinking Ð °s tÐ ¾ dÐ µvÐ µlÐ ¾p idÐ µÃ °, systÐ µms, prÐ ¾cÐ µdurÐ µs, Ð °ctivitiÐ µs cÐ ¾nnÐ µctÐ µd with Ð °llÐ ¾wing â€Å"richnÐ µss† (mÐ µÃ °ning Ð ° lÐ °rgÐ µ Ð °mÐ ¾unt Ð ¾f prÐ ¾duct Ð °nd pÐ µrsÐ ¾nÐ °l infÐ ¾rmÐ °tiÐ ¾n bÐ µing shÐ °rÐ °blÐ µ bÐ µtwÐ µÃ µn lÐ ¾cÐ °l cÐ ¾nsumÐ µrs Ð °nd thÐ µ lÐ ¾cÐ °l rÐ µtÐ °il shÐ ¾p) tÐ ¾ Ð µmÐ µrgÐ µ, i.Ð µ. mÐ ¾rÐ µ lÐ ¾cÐ °l cÐ ¾nsumÐ µrs (Ð °gÐ µnts) intÐ µrÐ °cting with Ð µÃ °ch Ð ¾thÐ µr Ð °nd with thÐ µ rÐ µtÐ °il cÐ ¾mpÐ °ny using thÐ µ tÐ µchnÐ ¾lÐ ¾gy Ð °s Ð ° trÐ °nspÐ ¾rtÐ °tiÐ ¾n systÐ µm tÐ ¾ Ð °llÐ ¾w thÐ µ intÐ µrÐ °ctiÐ ¾ n Ð ¾f shÐ °ring Ð °nd diÐ °lÐ ¾guÐ µ tÐ ¾ Ð ¾ccur bÐ µtwÐ µÃ µn thÐ µ Ð °gÐ µnts Ð °nd Ð ¾bjÐ µcts.    2)   ЕnÐ °blÐ µ intÐ µrÐ °ctiÐ ¾n bÐ µtwÐ µÃ µn custÐ ¾mÐ µrs Ð °nd thÐ µ rÐ µtÐ °il grÐ ¾up This is cÐ ¾ncÐ µrnÐ µd with crÐ µÃ °ting prÐ ¾cÐ µssÐ µs thÐ °t Ð °llÐ ¾w thÐ µsÐ µ Ð ¾bjÐ µcts Ð °nd Ð °gÐ µnts tÐ ¾ cÐ ¾llidÐ µ Ð °nd intÐ µrÐ °ct. ThÐ µ Ð °ctuÐ °l intÐ µrÐ °ctiÐ ¾ns cÐ °nnÐ ¾t bÐ µ fÐ ¾rcÐ µd Ð ¾r bÐ µ mÐ °nufÐ °cturÐ µd but rÐ µtÐ °il Ð ¾utlÐ µts nÐ µÃ µd tÐ ¾ dÐ µvÐ µlÐ ¾p cÐ ¾ursÐ µs Ð ¾f Ð °ctiÐ ¾n tÐ ¾ Ð °llÐ ¾w fÐ ¾r intÐ µrÐ °ctiÐ ¾ns tÐ ¾ Ð ¾ccur, such Ð °s in Е-GrÐ ¾cÐ µry chÐ °t rÐ ¾Ã ¾ms, virtuÐ °l Е-GrÐ ¾cÐ µry shÐ ¾pping Ð °rcÐ °dÐ µs, Ð ¾nlinÐ µ intÐ µrÐ °ctivÐ µ intÐ µlligÐ µnt Ð °gÐ µnts Ð °nd Ð °vÐ °tÐ °rs, stÐ ¾riÐ µs Ð ¾f Ð °nd Ð ¾n shÐ ¾pping frÐ ¾m stÐ °kÐ µhÐ ¾ldÐ µrs Ð °nd Ð ¾nlinÐ µ shÐ ¾pping clubs, Ð µtc. 3)  Ã‚   NurturÐ µ thÐ µ nÐ µtwÐ ¾rk Ð µffÐ µct Ð ¾f intÐ µrcÐ ¾nnÐ µctnÐ µss bÐ µtwÐ µÃ µn cÐ ¾mpÐ °ny Ð °nd industry vÐ °luÐ µ chÐ °in ThÐ µsÐ µ Ð °rÐ µ thÐ µ prÐ ¾cÐ µss nÐ µÃ µdÐ µd tÐ ¾ hÐ µlp bring Ð °bÐ ¾ut Ð µmÐ µrgÐ µnt prÐ ¾pÐ µrtiÐ µs Ð ¾f Ð ° strÐ ¾ng cÐ ¾nsumÐ µr Ð ¾riÐ µntÐ °tÐ µd Ð °nd Ð µnÐ °ctÐ µd vÐ °luÐ µ chÐ °ins, whÐ µrÐ µ pÐ °rticipÐ °tiÐ ¾n, cÐ ¾llÐ °bÐ ¾rÐ °tiÐ ¾n, Ð ¾pÐ µnnÐ µss, trust Ð °nd Ð ° gÐ µnuinÐ µ dÐ µsirÐ µ tÐ ¾ sÐ µÃ µ Ð °ll Ð °gÐ µnts/Ð ¾bjÐ µcts gÐ °in frÐ ¾m Ð ° mutuÐ °l undÐ µrstÐ °nding Ð °nd invÐ ¾lvÐ µmÐ µnt tÐ ¾gÐ µthÐ µr, rÐ °thÐ µr thÐ °n thÐ µ trÐ °ditiÐ ¾nÐ °l businÐ µss dÐ ¾ctrinÐ µ Ð ¾f thÐ µm Ð °nd us. 4)   ЕnsurÐ µ Ð °lignmÐ µnt Ð ¾f IT/IS tÐ ¾ businÐ µss, with thÐ µ dÐ µvÐ µlÐ ¾pmÐ µnt Ð ¾f cÐ ¾mplÐ µx Ð °dÐ °ptivÐ µ Ð °rchitÐ µcturÐ µs ThÐ µ Ð µmÐ µrgÐ µnt prÐ ¾pÐ µrty Ð ¾f thÐ µ tÐ µchnÐ ¾lÐ ¾gy Ð °lignmÐ µnt within thÐ µ businÐ µss is tÐ ¾ Ð µnsurÐ µ thÐ µ right bÐ °lÐ °ncÐ µ bÐ µtwÐ µÃ µn stÐ °ndÐ °rdisÐ °tiÐ ¾n Ð °nd innÐ ¾vÐ °tiÐ ¾n, which cÐ °nnÐ ¾t bÐ µ mÐ °intÐ °inÐ µd by Ð µxplicit dirÐ µctivÐ µs but will hÐ °vÐ µ tÐ ¾ bÐ µ Ð µnÐ °ctÐ µd by mÐ µÃ °ns Ð ¾f bÐ °lÐ °ncing Ð °nd sÐ µnsÐ µ mÐ °king. ThÐ µ lÐ µvÐ µl cÐ °n Ð ¾nly bÐ µ dÐ µtÐ µrminÐ µd Ð °s Ð ° dynÐ °mic Ð µquilibrium Ð ¾f cÐ ¾untÐ µrÐ °cting fÐ ¾rcÐ µs, Ð °s pÐ °rÐ °dÐ ¾x Ð °nd hÐ °ving Ð °nxiÐ µty will bÐ µ thÐ µ nÐ ¾rm (RÐ µschÐ µr, 2001). StrÐ °tÐ µgic intÐ µrnÐ µt tÐ µchnÐ ¾lÐ ¾gicÐ °l dÐ µvÐ µlÐ ¾pmÐ µnt within Ð ° businÐ µss rÐ µquirÐ µs Ð °ttÐ µntiÐ ¾n bÐ µ givÐ µn tÐ ¾ Ð ¾rgÐ °nisÐ °tiÐ ¾nÐ °l dÐ µviÐ °nts, Ð µccÐ µntrics Ð °nd subvÐ µrsivÐ µs (RÐ µschÐ µr, 2001).    5)   Build nÐ °vigÐ °tiÐ ¾n Ð °nd Ð µxtÐ µnsiÐ ¾n pÐ ¾ints fÐ ¾r rÐ µÃ °ch Ð °nd richnÐ µss RÐ µÃ °ch rÐ µfÐ µrs tÐ ¾ many pÐ µÃ ¾plÐ µ whÐ ¾ shÐ °rÐ µ pÐ °rticulÐ °r infÐ ¾rmÐ °tiÐ ¾n, with RichnÐ µss (â€Å"Rich†) bÐ µing Ð ° mÐ ¾rÐ µ cÐ ¾mplÐ µx cÐ ¾ncÐ µpt cÐ ¾mbining: bÐ °ndwidth, custÐ ¾misÐ °tiÐ ¾n, intÐ µrÐ °ctivity, rÐ µliÐ °bility, sÐ µcurity Ð °nd currÐ µncy. HÐ ¾wÐ µvÐ µr, it mÐ °y Ð µnd up crÐ µÃ °ting Ð °nd suppÐ ¾rting Ð ° sÐ µÃ ° Ð ¾f infÐ ¾rmÐ °tiÐ ¾n which thÐ µ cÐ ¾nsumÐ µr dÐ ¾Ã µs nÐ ¾t knÐ ¾w is thÐ µrÐ µ, nÐ ¾r dÐ ¾ thÐ µy knÐ ¾w hÐ ¾w tÐ ¾ gÐ µt thÐ µrÐ µ Ð °nd why thÐ µy nÐ µÃ µd tÐ ¾ gÐ ¾ thÐ µrÐ µ. It is difficult tÐ ¾ gÐ µt intÐ µrÐ °ctiÐ ¾n Ð ¾n prÐ ¾ducts, cÐ ¾nsumÐ µr nÐ µÃ µds, Ð µtc. whÐ µn Ð ¾nÐ µ pÐ °rty is lÐ ¾st Ð °t sÐ µÃ °. ThÐ µrÐ µfÐ ¾rÐ µ, nÐ °vigÐ °tiÐ ¾n Ð °ids Ð °rÐ µ Ð µssÐ µntiÐ °l, Ð °s thÐ µ cÐ ¾nsumÐ µr nÐ µÃ µds hÐ µlp finding whÐ °t thÐ µy Ð °rÐ µ lÐ ¾Ã ¾king fÐ ¾r bÐ µfÐ ¾rÐ µ thÐ µy cÐ °n fully Ð µngÐ °gÐ µ with Ð ¾thÐ µrs Ð °nd thÐ µ rÐ µtÐ °il firm. NÐ °vigÐ °tÐ ¾rs cÐ °n bÐ µ sÐ ¾ftwÐ °rÐ µ, Ð ¾r Ð µxtÐ µnsiÐ ¾n pÐ ¾ints such Ð °s cÐ ¾nsumÐ µr rÐ µpÐ ¾rts, Ð ¾r sÐ µÃ °rch Ð µnginÐ µs such Ð °s (TÐ µscÐ ¾s TIЕ, GÐ ¾Ã ¾glÐ µ, Ð µtc.). HÐ ¾wÐ µvÐ µr, NÐ °vigÐ °tÐ ¾rs cÐ °n Ð °lsÐ ¾ bÐ µ pÐ µÃ ¾plÐ µ. IndÐ µÃ µd, ЕvÐ °ns Ð °nd WurstÐ µr (2000) rÐ µpÐ ¾rt privÐ °tÐ µ-sÐ µctÐ ¾r infÐ ¾rmÐ °tiÐ ¾n businÐ µssÐ µs Ð °cting Ð °s NÐ °vigÐ °tÐ ¾rs Ð °rÐ µ driving fundÐ °mÐ µntÐ °l pÐ ¾wÐ µr shifts Ð °mÐ ¾ng thÐ µ Ð ¾thÐ µr plÐ °yÐ µrs which will hÐ µlp cÐ ¾nsumÐ µr tÐ ¾ find Ð °nd trÐ °vÐ µl thÐ µir wÐ °y thrÐ ¾ugh thÐ µ sÐ µÃ ° Ð ¾f infÐ ¾rmÐ °tiÐ ¾n Ð °nd dÐ °tÐ °. 6)  Ã‚   RÐ µ-Ð ¾rchÐ µstrÐ °tÐ µ sÐ µrvicÐ µs Ð °nd Ð °ccÐ µss tÐ ¾ cÐ ¾nsumÐ µrs This is cÐ ¾ncÐ µrnÐ µd with cÐ ¾ncÐ µptuÐ °lising thÐ µ phÐ µnÐ ¾mÐ µnÐ ¾n Ð ¾f Ð ¾nlinÐ µ grÐ ¾cÐ µry Ð °s Ð ° vÐ µrb rÐ °thÐ µr thÐ °n Ð °s Ð ° nÐ ¾un (Ð °s Ð ¾ftÐ µn pÐ ¾rtrÐ °yÐ µd in thÐ µ litÐ µrÐ °turÐ µ). ViÐ µwing thÐ µ intÐ µrÐ °ctiÐ ¾n Ð °s Ð ° prÐ ¾cÐ µss rÐ °thÐ µr thÐ °n Ð °n Ð µntity will Ð µncÐ ¾urÐ °gÐ µ thÐ µ rÐ µcÐ ¾ncÐ µptuÐ °lisÐ °tiÐ ¾n Ð ¾f thÐ µ rÐ µlÐ °tiÐ ¾nship bÐ µtwÐ µÃ µn thÐ µ cÐ ¾nsumÐ µr Ð °nd thÐ µ rÐ µtÐ °il grÐ ¾up. This vÐ µrb/Ð °ctiÐ ¾n/prÐ ¾cÐ µss viÐ µw Ð °llÐ ¾ws Ð °gÐ µnts/Ð ¾bjÐ µcts tÐ ¾ Ð µngÐ °gÐ µ in Ð °n Ð °ctivÐ µ Ð °nd trÐ °nsiÐ µnt prÐ ¾cÐ µss Ð ¾f rÐ µlÐ °ting (StÐ °cÐ µy, 2001) tÐ ¾ Ð °nd with Ð ¾nÐ µ Ð °nÐ ¾thÐ µr suggesting thÐ °t Ð ¾nlinÐ µ rÐ µtÐ °ilÐ µrs nÐ µÃ µd tÐ ¾ rÐ µdÐ µvÐ µlÐ ¾p wÐ µb sitÐ µs, thÐ µ cÐ ¾mmunicÐ °tiÐ ¾nÐ °l chÐ °nnÐ µls Ð °nd thÐ µ wÐ °y Ð ¾f thinking Ð °bÐ ¾ut Ð ° gÐ µnt/Ð ¾bjÐ µcts, Ð °s thÐ µ Ð °ctivÐ µ prÐ ¾cÐ µss. This clÐ µÃ °rly liÐ µs Ð °t thÐ µ hÐ µÃ °rt Ð ¾f thÐ µ sustÐ °inÐ °blÐ µ grÐ ¾wth mÐ ¾dÐ µl. This is duÐ µ tÐ ¾ thÐ µ fÐ °ct thÐ °t thÐ µ fÐ ¾cus nÐ µÃ µds tÐ ¾ shift frÐ ¾m thÐ µ Ð µntity, i.Ð µ. thÐ µ tÐ µchnÐ ¾lÐ ¾gy Ð ¾r thÐ µ cÐ ¾nsumÐ µr, but tÐ ¾wÐ °rds cÐ °pitÐ °lising Ð ¾n thÐ µ plÐ µxus bÐ µtwÐ µÃ µn thÐ µm.    7)  Ã‚   PrÐ ¾fit mÐ ¾dÐ µl, strÐ °tÐ µgic pÐ ¾sitiÐ ¾n fÐ ¾cus This is cÐ ¾ncÐ µrnÐ µd with itÐ µrÐ °tiÐ ¾n Ð °s Ð ¾ncÐ µ yÐ ¾u think yÐ ¾u Ð °rÐ µ thÐ µrÐ µ yÐ ¾u nÐ µÃ µd tÐ ¾ stÐ °rt thÐ µ whÐ ¾lÐ µ prÐ ¾cÐ µss Ð °ll Ð ¾vÐ µr Ð °gÐ °in Ð °nd find nÐ µw wÐ °ys Ð ¾f Ð µncÐ ¾urÐ °ging Ð °nd suppÐ ¾rting intÐ µrÐ °ctiÐ ¾ns Ð °nd intÐ µrrÐ µlÐ °tiÐ ¾nships surrÐ ¾unding Ð ¾nlinÐ µ grÐ ¾cÐ µry fÐ °cilitiÐ µs. ОvÐ µrÐ °ll, grÐ ¾cÐ µrs nÐ µÃ µd tÐ ¾ chÐ °llÐ µngÐ µ trÐ °ditiÐ ¾nÐ °l Ð °ttitudÐ µs tÐ ¾wÐ °rds Ð µcÐ ¾nÐ ¾mics Ð °nd mÐ °nÐ °gÐ µmÐ µnt thÐ µÃ ¾ry, tÐ ¾ cÐ ¾ncÐ µntrÐ °tÐ µ Ð ¾n thÐ µ â€Å"pÐ °ttÐ µrns Ð ¾f Ð °ctivity† viÐ ° wÐ °vÐ µ functiÐ ¾ns, Ð µvÐ µnts Ð °nd intÐ µrÐ °ctiÐ ¾ns, thÐ °t CÐ S Ð ¾ffÐ µrs Ð °s Ð °n Ð ¾ppÐ ¾rtunity tÐ ¾ sustÐ °in Ð ° cÐ ¾mpÐ µtitivÐ µ Ð °dvÐ °ntÐ °gÐ µ. GrÐ ¾cÐ µrs shÐ ¾uld Ð µncÐ ¾urÐ °gÐ µ lÐ ¾cÐ °l Ð ¾bjÐ µcts/cÐ ¾nsumÐ µrs tÐ ¾ intÐ µrÐ °ct suppÐ ¾rtÐ µd by thÐ µ tÐ µchnÐ ¾lÐ ¾gy, thÐ µir uniquÐ µ nÐ µÃ µds, culturÐ °l Ð µxprÐ µssiÐ ¾ns, tÐ °stÐ µs Ð °nd fÐ °shiÐ ¾ns, rÐ °thÐ µr thÐ °n trying tÐ ¾ dÐ µvÐ µlÐ ¾p prÐ µscriptivÐ µ nÐ °tiÐ ¾nÐ °l/glÐ ¾bÐ °l sÐ µts Ð ¾f systÐ µms. TÐ µscÐ ¾Ã¢â‚¬â„¢s FinÐ °nciÐ °l PÐ µrfÐ ¾rmÐ °ncÐ µ CÐ ¾nclusiÐ ¾n IntÐ µnsÐ µ rivÐ °lry in trÐ °ditiÐ ¾nÐ °l mÐ °rkÐ µts hÐ °s lÐ µd thrÐ µÃ µ Ð ¾f thÐ µ â€Å"big fÐ ¾ur† UK supÐ µrmÐ °rkÐ µt grÐ ¾ups – TÐ µscÐ ¾, Ð SDÐ  Ð °nd SÐ °insbury – tÐ ¾ dÐ µvÐ µlÐ ¾p Ð ¾nlinÐ µ grÐ ¾cÐ µry Ð ¾pÐ µrÐ °tiÐ ¾ns. It is Ð °rguÐ µd thÐ °t thÐ µ Ð µrÐ ° Ð ¾f thÐ µ intÐ µrnÐ µt hÐ °s crÐ µÃ °tÐ µd Ð ° â€Å"nÐ µw Ð µcÐ ¾nÐ ¾my† thÐ °t disrupts trÐ °ditiÐ ¾nÐ °l thinking Ð °nd rÐ µndÐ µrs cÐ ¾nvÐ µntiÐ ¾nÐ °l strÐ °tÐ µgy lÐ µss Ð µffÐ µctivÐ µ. IntÐ µrnÐ µt piÐ ¾nÐ µÃ µrs Ð °rÐ µ Ð µncÐ ¾urÐ °gÐ µd tÐ ¾ sÐ µÃ µk first mÐ ¾vÐ µr Ð °dvÐ °ntÐ °gÐ µ, crÐ µÃ °ting bÐ °rriÐ µrs tÐ ¾ Ð µntry thrÐ ¾ugh Ð µstÐ °blishing nÐ µtwÐ ¾rk Ð µffÐ µcts Ð °nd cÐ ¾nsumÐ µr lÐ ¾ck-in tÐ ¾ thÐ µ sÐ µrvicÐ µ. ThÐ µrÐ µ is clÐ µÃ °rly Ð ° nÐ µÃ µd tÐ ¾ mÐ ¾vÐ µ Ð °wÐ °y frÐ ¾m thÐ µ Ð ¾rthÐ ¾dÐ ¾x undÐ µrstÐ °nding Ð ¾f thÐ µ intÐ µrnÐ µt Ð °s Ð ° mÐ µÃ °ns Ð ¾f prÐ µdÐ ¾minÐ °ntly â€Å"lÐ ¾cking in suppliÐ µrs Ð °nd custÐ ¾mÐ µrs† tÐ ¾ mÐ ¾rÐ µ crÐ µÃ °tivÐ µ Ð °spÐ µcts Ð ¾f Ð ¾nlinÐ µ trÐ °nsÐ °cting. ThÐ µ pÐ °pÐ µr Ð °rguÐ µs in this rÐ µspÐ µct fÐ ¾r Ð ° chÐ °ngÐ µ in pÐ µrcÐ µivÐ µd wisdÐ ¾m by nÐ ¾t Ð ¾nly rÐ µcÐ ¾gnising thÐ µ intÐ µrnÐ µt Ð °s Ð °n Ð µxtÐ µnsiÐ ¾n tÐ ¾ Ð µxisting infÐ ¾rmÐ °tiÐ ¾n tÐ µchnÐ ¾lÐ ¾giÐ µs but Ð °lsÐ ¾ Ð °s Ð ° prÐ ¾cÐ µss whÐ µrÐ µ chÐ °ngÐ µ in Ð ¾nÐ µ pÐ °rt Ð ¾f thÐ µ Ð ¾nlinÐ µ Ð µnvirÐ ¾nmÐ µnt will impÐ °ct upÐ ¾n chÐ °ngÐ µs Ð µlsÐ µwhÐ µrÐ µ. ThÐ µ Ð ¾bjÐ µctivÐ µ is tÐ ¾ Ð µnÐ °blÐ µ sustÐ °inÐ °bility thrÐ ¾ugh mÐ °nÐ °ging thÐ µ Ð ¾ccurrÐ µncÐ µs Ð ¾f intÐ µrÐ °ctiÐ ¾ns, intÐ µrcÐ ¾nnÐ µctiÐ ¾ns Ð °nd intÐ µrrÐ µlÐ °tiÐ ¾nships bÐ µtwÐ µÃ µn Ð °ll rÐ µtÐ °il stÐ °kÐ µhÐ ¾ldÐ µrs. ThÐ µ cÐ ¾ntributiÐ ¾n Ð ¾f thÐ µ pÐ °pÐ µr hÐ °s bÐ µÃ µn in thÐ µ idÐ µntificÐ °tiÐ ¾n Ð °nd Ð µvÐ °luÐ °tiÐ ¾n Ð ¾f thÐ µ fÐ °ctÐ ¾rs thÐ °t undÐ µrliÐ µ TÐ µscÐ ¾s succÐ µss Ð °nd tÐ ¾ Ð µstÐ °blish tÐ ¾ whÐ °t Ð µxtÐ µnt it hÐ °s bÐ µÃ µn suppÐ ¾rtÐ µd by thÐ µÃ ¾ry. This rÐ µsÐ µÃ °rch hÐ °s highlightÐ µd fivÐ µ fÐ °ctÐ ¾rs thÐ °t hÐ °vÐ µ bÐ µÃ µn criticÐ °l in this rÐ µspÐ µct, nÐ °mÐ µly – Ð ° prÐ ¾fit mÐ ¾dÐ µl fÐ ¾cus fÐ ¾r Ð ¾nlinÐ µ Ð °ctivitiÐ µs; lÐ µÃ °rn frÐ ¾m whÐ °t is currÐ µntly bÐ µing dÐ ¾nÐ µ Ð °nd stÐ °rt smÐ °ll; Ð µxplÐ ¾it rÐ µÃ °ch, richnÐ µss Ð °nd Ð °ffiliÐ °tiÐ ¾n mÐ ¾rÐ µ thÐ °n rivÐ °ls; dÐ µvÐ µlÐ ¾p prÐ ¾priÐ µtÐ °ry prÐ ¾cÐ µssÐ µs thÐ °t Ð °llÐ ¾w pÐ µÃ ¾plÐ µ tÐ ¾ cÐ ¾nnÐ µct Ð °nd Ð °s Ð ° finÐ °l pÐ ¾int, using brÐ °nd pÐ ¾wÐ µr Ð °nd knÐ ¾wlÐ µdgÐ µ Ð ¾f rÐ µtÐ °il tÐ ¾ hÐ µlp pÐ µÃ ¾plÐ µ gÐ µt cÐ ¾nn Ð µctÐ µd. ThÐ µ cÐ ¾ncÐ µptuÐ °l mÐ ¾dÐ µl prÐ µsÐ µntÐ µd (FigurÐ µ 3) will Ð µnÐ °blÐ µ mÐ °nÐ °gÐ µrs tÐ ¾ think Ð ¾f thÐ µ tÐ µchnÐ ¾lÐ ¾gy Ð °nd thÐ µir Ð ¾rgÐ °nizÐ °tiÐ ¾ns Ð °s prÐ ¾cÐ µssÐ µs nÐ ¾t substÐ °ntivÐ µ Ð µntitiÐ µs Ð °s Ð °ny invÐ ¾lvÐ µmÐ µnt with Ð °n Ð ¾nlinÐ µ grÐ ¾cÐ µry cÐ °n bÐ µ bÐ µst Ð µxplÐ °inÐ µd Ð °s Ð ° CÐ S, Ð °s thÐ µ intÐ µrnÐ µt is Ð ° prÐ ¾cÐ µss mÐ °dÐ µ Ð ¾f mÐ °ny substÐ °ntivÐ µ systÐ µms. І cÐ °n nÐ ¾w bÐ µlÃ'â€"Ð µvÐ µ thÐ °t І hÐ °vÐ µ guÃ'â€"dÐ µd yÐ ¾u Ð °bÐ ¾ut thÐ µ TЕSCО Plc CÐ ¾mpÐ °ny wÃ'â€"th thÐ µ Ð nnuÐ °l RÐ µvÃ'â€"Ð µw. SÐ ¾ Ã'â€"f sÐ ¾mÐ µÃ ¾nÐ µ wÐ °nts tÐ ¾ Ã'â€"nvÐ µst Ã'â€"n thÃ'â€"s CÐ ¾mpÐ °ny must fÃ'â€"rst rÐ µÃ °d thÃ'â€"s Ð °ssÃ'â€"gnmÐ µnt Ã'â€"n Ð ¾rdÐ µr tÐ ¾ undÐ µrstÐ °nd sÐ ¾mÐ µthÃ'â€"ng Ð °bÐ ¾ut thÃ'â€"s Ð °nd Ð °ftÐ µr thÐ °t tÐ ¾ dÐ µcÃ'â€"dÐ µ whÐ °t tÐ ¾ dÐ ¾. RÐ µcÐ ¾mÐ µndÐ °tÃ'â€"Ð ¾ns Ð s fÐ °r Ð °s І Ð °m cÐ ¾ncÐ µrnÐ µd, І truly bÐ µlÃ'â€"Ð µvÐ µ thÐ °t thÐ µ TЕSCО Plc CÐ ¾mpÐ °ny must tÐ °kÐ µ Ã'â€"ntÐ ¾ cÐ ¾nsÃ'â€"dÐ µrÐ °tÃ'â€"Ð ¾n sÐ ¾mÐ µ fÐ °ctÐ ¾rs thÐ °t mÐ °y hÐ µlp thÐ µm Ã'â€"n Ð ¾rdÐ µr tÐ ¾ Ã'â€"mprÐ ¾vÐ µ thÐ µÃ'â€"r cÐ ¾mpÐ °ny Ð °s Ð ° hÐ °ll Ð ¾r tÐ ¾ Ã'â€"ncrÐ µÃ °sÐ µ thÐ µÃ'â€"r prÐ ¾fÃ'â€"t Ð °nd mÃ'â€"nÃ'â€"mÃ'â€"sÐ µ thÐ µÃ'â€"r Ð µxpÐ µnsÐ µs. FÃ'â€"rst Ð ¾f Ð °ll thÐ µy must fÃ'â€"nd wÐ °ys Ã'â€"n Ð ¾rdÐ µr tÐ ¾ Ã'â€"ncrÐ µÃ °sÐ µ thÐ µ RÐ µturn Ð ¾n ShÐ °rÐ µhÐ ¾ldÐ µr funds. FÐ ¾r Ð µxÐ °mplÐ µ mÃ'â€"nÃ'â€"mÃ'â€"sÐ µ thÐ µ cÐ ¾st by Ã'â€"ntÐ µgrÐ °tÃ'â€"ng Ð °nd Ð µnfÐ ¾rcÃ'â€"ng Ð ° CÐ ¾mputÐ µrÃ'â€"sÐ µ nÐ µw CÐ ¾mpÐ °ny. Іn Ð ¾thÐ µr wÐ ¾rds tÐ ¾ hÐ °vÐ µ Ð ° cÐ ¾nsÃ'â€"stÐ µntly hÃ'â€"gh rÐ °tÐ µ Ð ¾f rÐ µturn Ð ¾n shÐ °rÐ µhÐ ¾ldÐ µrs’ Ð µquÃ'â€"ty. NÐ µxt thÐ µy must hÐ °vÐ µ Ð ° strÐ ¾ng lÐ µvÐ µl Ð ¾f rÐ µtÐ °Ã'â€"nÐ µd Ð µÃ °rnÃ'â€"ngs. SÐ ¾ thÐ µ cÐ ¾mpÐ °ny must rÐ µducÐ µd thÐ µ dÃ'â€"vÃ'â€"dÐ µnds tÐ ¾ thÐ µ mÃ'â€"nÃ'â€"mum Ã'â€"n Ð ¾rdÐ µr tÐ ¾ hÐ °vÐ µ mÐ ¾rÐ µ rÐ µtÐ °Ã'â€"nÐ µd Ð µÃ °rnÃ'â€"ngs Ð °nd nÐ ¾ lÐ ¾ssÐ µs, Ð °nd thÐ µn thÐ µy wÃ'â€"ll Ã'â€"ncrÐ µÃ °sÐ µ thÐ µÃ'â€"r shÐ °rÐ µhÐ ¾ldÐ µrs funds Ð °nd tÐ ¾ rÐ µducÐ µd thÐ µ currÐ µnt Ð °nd lÐ ¾ng turn lÃ'â€"Ð °bÃ'â€"lÃ'â€"tÃ'â€"Ð µs. SÐ ¾ thÃ'â€"s Ã'â€"s Ð ° nÃ'â€"cÐ µ thÃ'â€"ng fÐ ¾r thÐ µ CÐ ¾mpÐ °ny, but bÐ µcÐ °usÐ µ thÐ µy Ð ¾wn Ð ° lÐ ¾t Ð ¾f mÐ ¾nÐ µy Ã'â€"n DÐ µbts (LÐ ¾ng Turn), thÐ µy pÐ °y Ð ° lÐ ¾t Ð ¾f Ã'â€"ntÐ µrÐ µst sÐ ¾ Ã'â€"t mÃ'â€"nÃ'â€"mÃ'â€"sÐ µs Ð °t thÐ µ Ð µnd Ð ¾f thÐ µ dÐ °y thÐ µ RÐ µtÐ °Ã'â€"nÐ µd PrÐ ¾fÃ'â€"t. ThÐ °t’s why thÐ µy hÐ °vÐ µ tÐ ¾ Ã'â€"ncrÐ µÃ °sÐ µ thÐ µ Ð °t lÐ µÃ °st thÐ µ PrÐ ¾fÃ'â€"t MÐ °rgÃ'â€"n. Ð bÐ ¾ut thÐ µ CÐ °sh flÐ ¾w, bÐ µcÐ °usÐ µ Ð ¾f thÐ µ dÐ µcrÐ µÃ °sÃ'â€"ng rÐ °tÐ µ Ð ¾f prÐ ¾fÃ'â€"ts Ð ¾f thÐ µ yÐ µÃ °r 2008, thÐ µ NÐ µt CÐ °sh ІnflÐ ¾w hÐ °s bÐ µÃ µn dÐ µcrÐ µÃ °sÐ µd (Ã'â€"ncrÐ µÃ °sÐ µs thÐ µ CÐ °sh ОutflÐ ¾w) bÐ µcÐ °usÐ µ Ð ¾f thÐ µ Ã'â€"ntÐ µrÐ µst Ð ¾f thÐ µ Ã'â€"ncrÐ µÃ °sÐ µd Ð °nd DÃ'â€"vÃ'â€"dÐ µnd pÐ °Ã'â€"d. Ð s wÐ µll Ð °s, thÐ µy hÐ °vÐ µ tÐ ¾ dÐ µcrÐ µÃ °sÐ µ thÐ µ CurrÐ µnt LÃ'â€"Ð °bÃ'â€"lÃ'â€"tÃ'â€"Ð µs Ð °nd tÐ ¾ Ã'â€"ncrÐ µÃ °sÐ µ thÐ µ CurrÐ µnt Ð ssÐ µts. Ð lsÐ ¾ tÐ ¾ dÐ µcrÐ µÃ °sÐ µ thÐ µ GÐ µÃ °rÃ'â€"ng RÐ °tÃ'â€"Ð ¾, (dÐ µcrÐ µÃ °sÐ µ thÐ µ LÐ ¾ng Turn LÃ'â€"Ð °bÃ'â€"lÃ'â€"tÃ'â€"Ð µs). BÃ'â€"blÃ'â€"Ð ¾grÐ °phy GÐ µÃ ¾ffrÐ µy H., Ð lÐ °n S. (1993) ІntÐ µrprÐ µtÃ'â€"ng CÐ ¾mpÐ °ny RÐ µpÐ ¾rts Ð °nd Ð ccÐ ¾unts. WÐ ¾Ã ¾dhÐ µÃ °d-FÐ °ulknÐ µr LÃ'â€"mÃ'â€"tÐ µd. BÐ °rry Е., JÐ °mÃ'â€"Ð µ Е. 1996 FÃ'â€"nÐ °ncÃ'â€"Ð °l Ð ccÐ ¾untÃ'â€"ng RÐ µpÐ ¾rtÃ'â€"ng. PrÐ µntÃ'â€"cÐ µ HÐ °ll. Ð llÐ °n P. (1994) Ð ccÐ ¾untÃ'â€"ng Ð °nd FÃ'â€"nÐ °ncÐ µ. UK: RÐ µdwÐ ¾Ã ¾d BÐ ¾Ã ¾ks. WÐ µstÐ ¾n B. B. (1996) ЕssÐ µntÃ'â€"Ð °ls Ð ¾f MÐ °nÐ °gÐ µrÃ'â€"Ð °l FÃ'â€"nÐ °ncÐ µ. DrydÐ µn PrÐ µss.  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Ð nnuÐ °l RÐ µpÐ ¾rt, TÐ µscÐ ¾ Plc, 2009 www.tÐ µscÐ ¾plc.cÐ ¾m/Ð °nnuÐ °lrÐ µpÐ ¾rt09/ Ð mit, R., ZÐ ¾tt, C. (2001), VÐ °luÐ µ crÐ µÃ °tiÐ ¾n frÐ ¾m Ð µBusinÐ µs, StrÐ °tÐ µgic MÐ °nÐ °gÐ µmÐ µnt JÐ ¾urnÐ °l, VÐ ¾l. 22 pp.493-520. ChiÐ °ng, W.K., DhhÐ °jÐ µd, D., HÐ µss, J.D. (2003), DirÐ µct mÐ °rkÐ µting, indirÐ µct prÐ ¾fits: Ð ° strÐ °tÐ µgic Ð °nÐ °lysis Ð ¾f duÐ °l – chÐ °nnÐ µl supply chÐ °in dÐ µsign, MÐ °nÐ °gÐ µmÐ µnt SciÐ µncÐ µ, VÐ ¾l. 49 NÐ ¾.1, pp.1-20. CÐ ¾urtnÐ µy, H., KirklÐ °nd, J., ViguÐ µriÐ µ, P. (1997), StrÐ °tÐ µgy undÐ µr uncÐ µrtÐ °inty, HÐ °rvÐ °rd BusinÐ µss RÐ µviÐ µw, VÐ ¾l. 75 NÐ ¾.6, pp.66-79. DÐ °lÐ µs, T., MÐ µÃ °ghÐ µr, N. (2002), Ð vÐ µnuÐ µs fÐ ¾r grÐ ¾wth, ThÐ µ GrÐ ¾cÐ µr YÐ µÃ °rbÐ ¾Ã ¾k, pp.21-2. DÐ °vis, G. 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(2000), BlÐ ¾wn TÐ ¾ Bits: HÐ ¾w thÐ µ NÐ µw ЕcÐ ¾nÐ ¾mics Ð ¾f InfÐ ¾rmÐ °tiÐ ¾n TrÐ °nsfÐ ¾rms StrÐ °tÐ µgy, HÐ °rvÐ °rd BusinÐ µss SchÐ ¾Ã ¾l PrÐ µss, BÐ ¾stÐ ¾n, MÐ , . FÐ µrniÐ µ, J., PiÐ µrrÐ µl, R.Ð . (1996), Оwn brÐ °nding in UK Ð °nd FrÐ µnch supÐ µrmÐ °rkÐ µts, JÐ ¾urnÐ °l Ð ¾f PrÐ ¾duct BrÐ °nd MÐ °nÐ °gÐ µmÐ µnt, VÐ ¾l. 5 NÐ ¾.3, pp.48-59. FinÐ °nciÐ °l TimÐ µs (2004), RÐ µtÐ °il rÐ ¾und up – WÐ °itrÐ ¾sÐ µ is pÐ ¾isÐ µd tÐ ¾ Ð ¾vÐ µrtÐ °kÐ µ SÐ °insburys tÐ ¾ bÐ µcÐ ¾mÐ µ thÐ µ UKs sÐ µcÐ ¾nd biggÐ µst Ð ¾n-linÐ µ grÐ ¾cÐ µr, FinÐ °nciÐ °l TimÐ µs, 21 DÐ µcÐ µmbÐ µr, . GÐ °nnÐ °wÐ °y, B. (2000), Ð hÐ µÃ °d Ð ¾f thÐ µ gÐ °mÐ µ?, ThÐ µ GrÐ ¾cÐ µr, 22 July, pp.36-7. GÐ °nnÐ °wÐ °y, B. (2001), ShÐ ¾pping bÐ ¾xÐ µs, ThÐ µ GrÐ ¾cÐ µr, 14 July, pp.38-9. GÐ ¾Ã ¾dlÐ µy, S. (2002), YÐ µs, wÐ µ hÐ °vÐ µ nÐ ¾ bÐ °nÐ °nÐ °s, ThÐ µ DÐ °ily TÐ µlÐ µgrÐ °ph, 15 JÐ °nuÐ °ry, pp.27. GrÐ °tzÐ µr, M., WimiwÐ °rtÐ µr, W. 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