Enrons Scandal Of Corporate America - 1713 Words

Enron had been the darling of corporate America: it was voted its most innovative company, adviser to US Government, a Fortune 500 top ten player, backed by the world’s biggest banks and rated by the top market analysts (Tonge, Greer, Lawton, 2003). While it is shocking to hear about ethical scandals from big corporations, this paper discusses the major reasons and lessons learnt from Enron’s scandal. Enron’s scandal wasn’t caused by few â€Å"bad apples† but the organization’s culture, as set by Enron’s leadership, was the main driving force toward unethical behavior (Kulik, O Fallon Salimath, 2008). However, it didn’t take one party to destroy this great structure; many parties were responsible for it starting with its leadership, then its auditors, and the entire US financial system that consequently learnt the lesson and have made major changes that seem to be effective nevertheless continuous follow up and close monitorin g is still necessary to avoid having another Enron in the future. Factual Background Formed in 1985 from a merger of Houston Natural Gas and Internorth, Enron Corp. was the first nationwide natural gas pipeline network. Over time, the firm’s business focus shifted from the regulated transportation of natural gas to unregulated energy trading markets (Jickling, 2002) which was perceived to be innovative outstanding business strategy that increased profits by about 90 billion over 10 years (Jickling, 2002). Enron leaders were crazy about generatingShow MoreRelatedCorporate Social Responsibility Of The Enron Corporation1124 Words   |  5 Pages We will look at the Enron Corporation and discuss its application of Corporate Social Responsibility (CSR) or in actuality its irresponsible behavior as related to social responsibility. We will revisit what CSR is and discuss Enron’s philosophy regarding its use and function within the corporation. We will discuss the consequences of Enron’s irresponsible behavior and the far reaching effects it had on society. Corporate Social Responsibility are actions taken by a corporation that have positiveRead MoreCorporate Fraud Has Taken The World By Storm For Over The Past Decade1479 Words   |  6 PagesCorporate Fraud Introduction Overview Corporate fraud has taken the world by storm for over the past decade. The biggest fraud cases to ever occur happened in 2001 and 2002 and since then fraud seems to be more and more common around the world. According to Forbes.com (n.d) the biggest fraud cases to ever occur was Enron, Bernard Madoff, Lehman Brothers, and Cendant, with Enron being the largest accounting scandal to ever take place. Prior to Enron’s fraud scandal coming to light in 2001, theyRead MoreEnron : The Conspiracy Of Fools Essay1650 Words   |  7 Pages Enron was followed by other accounting scandals such as WorldCom, Tyco, Freddie Mac, and HealthSouth, yet Enron will always be remembered as one of the worst corporate accounting scandals of all time. Enron’s collapse was brought upon by the greed of its corporate hierarchy and how it preyed upon its faithful stockholders and employees who invested so much of their time and money into the company. Enron seemed to portray that the goal of corporate America was to drive up stock prices and get toRead MoreEssay on Enron: Questionable Accounting Leads to Collapse784 Words   |  4 Pages I worked for Hallmark Cards when the Enron scandal broke and Arthur Anderson had a consulting team working with Hallmark. Shortly after, Hallmark cut their ties with that accounting firm even though the Arthur Anderson team was doing a great job in Kansas City. From a personal standpoint, the lesson to learn is that one must act ethically and report any discovered unethical behavior. From a society standpoint, it is clear that corporate America cannot be trusted to â€Å"police† itself. Even todayRead MoreEnron Scandal Reaction1483 Words   |  6 PagesAssignment The documentary film, Enron: The Smartest Guys in the Room It is a story about the greed in corporate America  that is always exposed after the fact. The  film examines the 2001 collapse of Enron.  At the time of the collapse, Enron  was the largest bankruptcy in history. The Enron story is one of money  and politics, which are two areas that embody the culture of big business in America. The film does a great job  of illustrating the laissez-faire culture that allowed Enron to rise to  prominenceRead MoreCase: 9 Enron928 Words   |  4 PagesCase 9: Enron; Questionable Accounting Leads to Collapse Bruce Smith Minnesota School of Business BS430 Business Ethics MR. Morris November 25, 2012 1. 2. 1. How did the corporate culture of Enron contribute to its bankruptcy? Effective leaders are good at getting followers to their common goals or objectives in the most effective and efficient way; unfortunately for Enron, in the end Ken Lay and Jeffery skilling were too focused on profits that nothing else mattered. In theRead MoreManagement Organization1074 Words   |  5 Pagesemployees to work at his or her fullest potential. This paper will discuss Enron, and the business failure that occurred. At one time, Enron was one of the largest energy providers in America, based out of Houston, Texas. This paper will explain how specific organizational behavior theories could have predicted Enron’s failure. Also provide a comparison and contrast how leadership management and organizational structures contributed to the failure. Enron History Enron was founded in 1985 by KennethRead MoreLessons Learned from Enrons Failure957 Words   |  4 PagesThe well-established company Enron, which was once ranked by Fortune as â€Å"the most innovative company in America† faced bankruptcy and thus the downfall of Enron. One of the causes of Enron’s failure is that there is a weak corporate governance of board of directors. Their lack of social responsibility from the 4 main criteria identified by Archie Carroll, which is economic, legal, ethical and discretionary responsibilities. They only want to make profits without taxes and move up, leaving all theRead MoreEnron And The Enron Scandal1387 Words   |  6 Pagespeople about the Enron scandal today, most of them have not even heard of it. The fact of the matter is, it is very relevant to young professionals today. Enron is the most recent story of classic Wall Street greed and fraud. However it is still argued today by different stakeholders who are is responsible. This essay will take the viewpoint from multiple stakeholders to use the Enron Scandal as an example to further explain American corporate corruption. To analyze this scandal, we first need to knowRead MoreFailure Of Responsible Management : Enron Corporation1645 Words   |  7 Pagesmanagement In the end of 2001, Enron scandal has been disclosure, Enron stock prices slumped, and its financial tricks was exposed. The Securities and Exchange Commission (SEC) began survey of company s records. Enron’s auditor ‘Arthur Andersen ‘destroys relevant documents. (Ailon, G. 2011) Enron was bankruptcy in December 2001, and became the largest bankruptcy case in American history. It was a long-term influence on media and stock market that ‘shocked America’ (JE. Stiglitz, 2003). There are many

Agent Based Models ( Abm ) - 2005 Words

Agents Based Models (ABM) - Introduction to ABM A model is a representation of a real system and thus, it is an abstraction of the reality 4. â€Å"The word â€Å"modeling† comes from the Latin word modellus which describes a typical human way of coping with the reality† (Schichl, n.d.). Models can take various forms such as mathematical equation, drawing, computer code, etc. However, there is a common purpose of all designed models, which is to simplify the complexity presented in the real system or problem. Therefore, models usually contain only the main aspects of the real system (not all details). Macal and North (2006) believe that ‘‘There is no universal agreement on the precise definition of the term ‘agent’, although definitions tend to agree on more points than they disagree’’. It seems very complicated to extract agent characteristics from the literature in a consistent and constant perspective, because they are utilised in different ways (Bonabeau 2002). Agent-based modelling (ABM) is able to simulate the individual activities by measuring their behaviour and results over time for developing models of cities (Crooks 2006). Agent-based modeling and simulation (ABMS) is a new approach to modeling systems comprised of autonomous, interacting agents. Agent-based modeling is a new analytical method for the social sciences, but one that is quickly becoming popular. ABMS promises to have far-reaching effects on the way that businesses use computers to support decision-making andShow MoreRelatedAgent Based Models ( Abm )2001 Words   |  9 PagesAgents Based Models (ABM) A model is a representation of a real system and thus, it is an abstraction of the reality 4. â€Å"The word â€Å"modeling† comes from the Latin word modellus which describes a typical human way of coping with the reality† (Schichl, n.d.). Models can take various forms such as mathematical equation, drawing, computer code, etc. However, there is a common purpose of all designed models, which is to simplify the complexity presented in the real system or problem. Therefore, modelsRead MoreAn Agent Based Model ( Abm )4799 Words   |  20 PagesAn agent-based model (ABM) is used here to examine what effect village attitudes toward forest conservation have on the future landscape and extent of forest cover in Bachauli, Nepal if improved forest conservation-related policies are implemented, population growth rate fluctuates, and villages are able to mimic one another’s attitudes toward forest conservation-related behaviors and land use/land cover change (LULCC) decis ions. The model integrates land cover data and household attitudes towardRead MoreAgent Based Modeling And Simulation1980 Words   |  8 PagesAGENT-BASED MODELING AND SIMULATION: DESKTOP ABMS Charles M. Macal Michael J. North *NetLogo is a free ABMS environment (Wilensky 1999) developed at Northwestern University’s Center for Connected Learning and Computer-Based Modeling (http://ccl.northwestern.edu/netlogo/). The NetLogo language uses a modified version of the Logo programming language (Harvey 1997). NetLogo is designed to provide a basic computational laboratory for teaching complex adaptive systems concepts. NetLogo was originallyRead MoreCombating Threat From Social Engineering1137 Words   |  5 Pagesnever taught . Agent Based Research Some of the most interesting and newest research into social engineering was first proposed by Stephanie White in 2003 and involves an agent based system. This idea of fitting people, or agents, into models is an idea, which is catching on. This idea ties a process or a role to each individual agent or team to produce what Ms. White calls an â€Å"artifact† or simply a result . Argonne National Laboratory recently won a large grant to build an Agent Based Modeling andRead MoreWhat Is The Potential Damages Of Future Climate Change Impact Of Flooding Risk1037 Words   |  5 PagesEvaluated potential damages of future climate change impact of flooding risk by empirical method based and relies on statistical relationships between historical precipitation and flood damage. Changes in precipitation determined by general circulation models (GCMs). Future precipitation daily precipitation totals scenarios generated from an ensemble of GCMs, monthly average change output through Si mCLIM (Randall et al., 2007) To evaluate potential damages of flooding by the statistical methodsRead MoreEssay On Climate Change721 Words   |  3 Pagesextreme event flooding risk to under future climate change demonstrates adaptation measures with or without climate change and assesses of adaptation and also identifying options that can help to manage indirect flood under climate change an ‘impacts-based’ adaptation assessment (Carter et al., 2007). Adaptation measures are crucial for planning nationwide coordinated actions for flood risk reduction in view of future socioeconomic dynamics and the potential intensification of the hydrological cycleRead MoreSpatial Dynamic Optimization Of Water Use And Management Behavior7350 Words   |  30 PagesChapter Three: A Bi-level Hydroeconomic Model of Spatial Dynamic Optimization of Water Use and Management Behavior in Utah: A Case Study of Cache Valley Abstract This study employs spatial dynamic optimization and bi-level programming techniques to analyze water use behavior in the Cache Valley of Utah. Using a case-study Logan Northwest Field canal system, it explores the impact spatial location of heterogeneous actors has on decision making hierarchy and outcomes. It also analyzes in particularRead MoreSocial Simulation Applies Computational Methods Essay942 Words   |  4 Pagesinteraction between individual agents, in artificial environments, based on limited information and computational ability (Zimbres and Oliviera, 2009); (3) allows the study of the effect of different combinations of social, technical and natural characteristics of systems at various time scales (Raptis et al., 2013); (4) can be utilized to predict the effect of a variety of social factors on the emergence and evolution of social norms (Chen et al., 2012); (5) models can identify the complexity throughRead MoreA Multi Agent Cross Platform Modelingand-1952 Words    |  8 Pagesmulti-agent cross-platform modelingand- simulation environment, has been enhanced with new capabilities. We explain selected simulations from our Models Library and describe recent enhancements (e.g., 3D) and demonstrate extensions (e.g., music). We focus on H u b N e t [5], a technological infrastructure for facilitating participatory simulations [6], run these activities with participants, and discuss learning experiences afforded by these activities. INTRODUCTION NetLogo [3] is a multi-agent programmingRead MoreManagement Accounting3474 Words   |  14 Pages |1,040.00 |520 x  £2.00 |1,040.00 | | | | | | | |Stripping agent |320 x  £4.50 |1,440.00 |320 x  £4.00 |1,280.00 | | | | | |

Work-Life Balance Free Essays

Issues pertaining to work-life balance have become more important in recent years on the part of employers, employers, unions and the government in developed countries. The essay discusses the concept of work-life balance and the reasons why it will benefit the business as well as the employees. It explains the different contributions or roles of the government, labor unions and the government in promoting work-life balance practices. We will write a custom essay sample on Work-Life Balance or any similar topic only for you Order Now Lastly, the essay also discusses some factors that will shape the work-life balance issue in the 21st century. Definition. According to Parkes (2008), work-life balance is an individual’s ability to meet their work and family commitments, as well as other non-work responsibilities and activities. Background and definition about work-life balance Gregory and Milner (2009) mention that work-life balance practices in the workplace are those that increase the flexibility and autonomy of the worker in negotiating their attention or time and presence in the workplace, while work-life balance policies exist where those practices are intentionally designed and implemented. They suggest that priorities of employees to balance their work-life are categorized into three types: working time arrangements, parental leave entitlements, and childcare. Employees have a tendency to express their job satisfaction and organizational commitment whenever these priorities are met through organizational work-life initiatives. Work-life balance is positively associated with the fairness and support of supervisors, understanding of family needs by the organization, and support for activities and responsibilities outside of work (Parkes 2008). The length of hours of work is the most important variables for work-life balance because employees who work fewer hours have higher work-life balance. The primary causes of the imbalance in work, life and family comes much from the social, economic and demographic changes of the society than from the changes in the organizational systems, structures and philosophies. In order to address the growing competition, organizations have adopted various management practices considered important to their survival. These may include performance management and results measuring systems, just-in-time production, reduced lead times, and extended customer service hours (Barrette). These management practices have put additional pressure on employees to increase their work productivity and performance. Furthermore, some employees are obligated to work beyond regular working hours because of market globalization. However, innovations in telecommunications have kept people more connected to their family while simultaneously enabling them to work. Barrette states that the spillover of work into personal life and the overload of work are affecting the time and energy of most employees and have consequences on the health of parents and their families. Job insecurity, unstable employment, the need to extend work hours, the complexity of work roles, and unpredictable work schedules depending on customer demands for increased performance affect the challenge of making a balance between work and family life. Moreover, the shift to a service-based economy from a manufacturing-based economy has changed the conditions and characteristics of work, making it harder to balance work and family (Barrette). Government policy for work-family The Employment Relations Act 1999 in Great Britain establishes the legal minimum requirement for employers with respect to certain rights of employees. The Act includes the provision for maternity leave, conditions under which an employees may be absent for the purposes of caring for a child, and provision relating to time off for dependants (Hogarth, Hasluck Pierre, 2000). Flexible working schedules can give both employers and employees with much needed flexibility to maintain the employment relationship. Hogarth, Hasluck Pierre (2000) mention that there is low incidence of flexible working time arrangements, even flexi time, and a greater proportion of women working with term-time contracts. The flexible working time arrangements and non-standard working times in the country demonstrate the degree of variability of working arrangements in the economy, which are likely to have relevance to work-life balance (Hogarth, Hasluck Pierre, 2000). Policy-makers have widely accepted the work-life balance practices to be positive. Such employment policies, which recognize and take into consideration of the fact that employees have responsibilities beyond the workplace, lead to reductions in employee turnover and skilled employee retention, and increased organizational commitment and loyalty. Employers recognize the business case for achieving a good balance between the demands of work and life (Hogarth, Hasluck Pierre, 2000). Those employees with lower occupational hierarchy are sometimes not eligible for some benefits, like occupational maternity pay, or not aware of relevant organizational policies. The senior or managerial employees are qualified to take advantage of work-life balance practices but may be reluctant to do so because of the perception that may affect their career advancement (Hogarth, Hasluck Pierre, 2000). The government policy for work-family balance in the Netherlands includes a right to parental and other leaves to care for family members, an employee’s right to adjust working time, and an initiative to make it easier for people to combine work and care and to help older workers continue to work as long as possible (Todd). In Sweden, the government also developed legislation that may help employees reduce work-life conflict, particularly for women. These include flexible and extended parental leave benefits, sick leave, flexible working time, and sabbatical leave (Todd). Role of Union in Promoting Work-Family Balance The role of labor union is to improve the working conditions and economic status of workers through collective bargaining agreement with employers. The Trades Union Congress in Great Britain is the one that coordinate and establish policy on behalf of the entire labor movement. The main purpose of unionism in the United States is to maintain craft standards and to prevent employers from employing untrained workers and foreign labor. The European. Unions are more engaged in more partisan political agenda. According to Hyman and Summers (2007), employees do influence work-life balance issues in the financial services sector, and work-life balance initiatives had greater breadth, codification and quality where independent unions were recognized. Unions barely played an important role in the process of introducing and implementing work-life balance policies and that initiatives made by employers often put them in a defensive position (Gregory Milner, 2009). The British unions played a role in collective bargaining on diversity. However, their role is occurring at a time when their influence and capability to act at workplace level is relatively weak. Negotiations over work-life balance by unions in France took place when the process of bargaining decreased working time in the country. Employer-led initiatives gave a room for unions in the country to be involved and to attempt to begin the initiative towards the adoption of employee-friendly policies. Labor market has affected the capacity and means of workers to sustain themselves. While the labor market enables workers to increase their income and their capacity to buy market-based sources of pleasure and support, labor market is also the place where employees exclude their other activities, including private care of their self and others. Several young people desire more time with their parents instead of additional money through more parental work (Pocock, 2006). Some workers are having a hard time to balance work-life. The problem of balancing work-life must be learned in the concept of labor market dynamics and trends in working time. Other problems relating to work-life balance are the changing workplaces, changing values and goals, changing roles, changing support structures, and changing families and households. Provision and benefit that relate with work-family balance from Business. The provisions concerning work-life balance practices provided by employers in Great Britain include statutory leave entitlements, new working parent legislation, flexible working time arrangements, homeworking, maternity rights, paternity leave, time off for dependants, and childcare and other support for working parents (Woodland, Simmonds, Thornby, Fitzgerald, McGee) . The main benefit gained by employers in Great Britain from implementing work-life balance practices is having a happier workforce. Other benefits include increase in employee retention and staff motivation. Employers in the country perceive that work-life balance practices had a positive effect on employee relations, employee motivation and commitment, labor turnover, employee recruitment, absenteeism and labor productivity. Employers who have provision of flexible working time practices and leave arrangements have improved financial performance compared with their competitors who do not have these types of arrangements. Many employers believed that work-life balance practices are more cost-effective amidst concerns regarding staff shortages (Woodland, Simmonds, Thornby, Fitzgerald, McGee). Work-life balance practices in the Europe were established as a result of government legislation and are based mainly on social responsibility. Europe provides a maximum of 48-hour work week to maintain the safety and health of employees. It also offers paternity leave, four weeks mandatory vacation, support for childcare, and telecommuting. Different countries in the European Union adopt more strict regulations on employers which limit their flexibility in offering work-life balance programs. Several companies also experienced remarkable financial benefit as a result of the work-life balance practices. Work-family balance in the 21st century The three trends that will shape the value of work-life balance in the 21st century are the increasing competition, which depends on employee relationships with customers and suppliers in order to become competitive; changing workforce; and the desire to have more balance with work and family. The labor force in the 21st century is more likely to be half female who are managing households and dual incomes out of necessity. The shift in demographic population implies that all people desire flexibility at different points in their working lives (Hutton, 2005). Conclusion The work-life balance approaches of the government, labor unions and businesses are important to employees who are trying to earn a living and at the same time to have quality time with their family. Each of them must cooperate in order to maintain and improve the existing work-life practices for present and future generations, particularly in addressing future labor issues. How to cite Work-Life Balance, Essays

Marketing Analysis of Ecostore Marketing Mix

Question: Describe about the Marketing Analysis of Ecostore for Marketing Mix. Answer: Introduction This report discusses about one of the eco environment based company i.e. Ecostore. Ecostore is New Zealand based organization which and operates in health care and skin industry. In this report, analyses of marketing mix or marketing plan has been undertaken. Marketing mix is the plan that undertakes different aspects of marketing strategies of the business organisation. In this report, Ecostore is the companys marketing mix strategy has been analysed and results have been concluded. Main components of marketing mix strategy are product, pricing, promotion and distribution or place of the business organisation. Marketing mix of Ecostore has been compared with Johansson and Johansson. Recommendation has been provided to Ecostore regarding improvement of marketing mix for product to become more competitive in the market place. Marketing background of Ecostore About company Ecostore is the leading company and has implemented eco friendly practices in its production and other aspects of business operations. Ecostore started their business with some limited product line and now they had reached to sky with their USP i.e. eco friendly material being used in products. Ecostore is engaged in different types of product and services that they provide to their customer. Product and service line of Ecostore includes; laundry products, skin care, dish products, hair products and services, home care and ultra sensitive products and services. In 1997, Ecostore has moved to Auckland them their first retail store and back. Marketing background of Ecostore is its customer loyalty that they had achieved through green marketing and eco friendly business operations. Since Ecostore is involve in health care and skin care business operations, this makes it more responsible towards not using dangerous chemicals and toxic substances. In their product promotion activities they use their USP i.e. being eco friendly, support green revolution and take care of health of their customers (Dobbs, 2014). In health and skin care industry Ecostore has positioned themselves as different business organization from others in terms of its USP. Sustainable practices had been adopted by Ecostore in their business operations. Sustainable practices can be defined as the practices that are undertaken in a manner and with special care that protects global and domestic resource. Ecostore has been involved in such practices that support eco friendly and healthier practices while undertaking production process. They use optimum resources for their business operations and addresses issues that society faces from using skin care products (Nakhchian et al., 2012). Marketing strategies Marketing strategy is the strategy that is made by the business organization for its effective development of marketing plan. In marketing strategy or marketing plan there are four main elements i.e. product, price, promotion and place (Brei et al,, 2011). Marketing manager of organization is required to address issues related to these four elements and able to develop effective marketing plan. In case of Ecostore following is its marketing strategy: Products / services Products are made or manufactured by eco friendly material and without using dangerous chemical and toxics which causes many skin problems (Standardized marketing mix 2016,). Following are some products and services of Ecostore: Laundry- Wool and delicates, soaker and stain remover, laundry liquid, etc. all these products are made up of organic material and do not include any dangerous substances. Skin care- this product line includes body lotion, body butter and hand cream. This product line requires special packing and distribution materials so that it reaches safely to the customers. Hair products- Shampoo and conditioner are two main product lines under this product category. On the basis of positioning strategy, Ecostore has developed this product since hair products are widely used product therefore this requires better analysis of how to create differentiation. Ecostore has achieved differentiation advantage under its positioning strategy by making its product safer and healthier by adopting sustainable practices. Home Products- One more product line of Ecostore is home care products which involves many product that is required for cleansing home. This product line of Ecostore has sprayers, liquid scourer, multi-purpose concentrate, etc. As a producer of sustainable product maker, Ecostore has to consider sustainability in term of material procurement, what ingredients have been used in product and process of manufacturing the product (Londhe, 2014). In production process, Ecostore uses organic material; procure material from local market, reducing carbon footprint has been achieved from distribution method of Ecostore. Pricing Price of the product is the monetary consideration that business organization receives from its customers. Pricing of product is based on product attributes, its usefulness and on the basis of worth of product. Pricing strategy under marketing mix plays important role as price is the first element of product that customer seeks (Kaye, 2013). For business organization like Ecostore and other, pricing has always been issue for the management and management accountant of Ecostore. Ecostore has been involved in the manufacturing of organic products, sustainable products and green products. Therefore it is very much difficult for Ecostore to keep product price at lower side (Nazari-Shirkouhi et al., 2013). Most of ingredients and material that is used in the production process are grown by themselves. These materials are organic, chemical free and no use of toxic substances therefore price of these materials is at higher side. It creates gap between normal skin care product and green or s ustainable product and this price gap is known as green pricing gap (Niraj and Siddarth, 2014). Material cost, labor cost, overhead cost, factory overheads and other fixed cost are some price attributes of Ecostore products. Price skimming is the pricing strategy of products that Ecostore uses to determine price of product. Under price skimming strategy, product will be set at higher price range so as to cover all cost involved including desired profit margin. It has been observed that customer is willing to pay more price of product because of its high quality (Cruz et al., 2010). Promotion Promotion is most important element of marketing mix because under promotion strategy business organisation will be able to introduce its products and its advantages to prospective customers. Promotion element of market mix can be defined as the communication link or tool between business organisation and its customer base. In case of Ecostore, promotion has become most important aspect for its business products. As Ecostore has been selling products with some unique features and some peculiar attributes, therefore it became most important factor for them to communicate advantages with its customers. Branding and brand development is the major outcome of promotion that Ecostore or other company undertakes (Haughton et al., 2015). In case of Ecostore, management tries to develop brand positioning strategy as healthy food keeps people healthy and use of organic materials and chemical free substance. Personal selling and sales promotion are two major factors for the promotion strategy. Face to face and over the counter selling stagey were adopted by Ecostore (Luca and Suggs, 2010). They offer seasonal discounts, free sample of first products, online promotion campaign for discounts, etc. Distribution Place of promotion or setting distribution channels is most important aspect for Ecostore as this will establishes contact point with customers (Talpau, 2014). Ecostore has established some retail stores so that customers can find it easy to purchase their products. Apart from physical retail store, Ecostore has established online interaction system or online ordering system for their customers. As an eco friendly or sustainable practices, Ecostore has build energy efficient retail stores, using solar panels in their stores and many other practices has been adopted by Ecostore. Ecostore has been involved many intermediaries in their distribution channel (Pralea, 2011). Apart from selling products, Ecostore has also some marketing agents and first level and second level distributors within its distribution list. Distribution element of marketing mix also requires consideration of packing and moving of products. Ecostore is engaged in manufacturing and selling organic (free from chemic al and toxic substances), therefore packing and distribution become important aspect of same. Environmental packing has been introduced and used by Ecostore, under which they are using Carbon Captured Pak. Carbon Captured Pak are made up of renewal material that can be used for multiple times. Management has put more focus on packing material that can be 100 % reusable and are used for more convenience of customers (Moser and Wohlfarth, 2009). Comparison of marketing mix with competitors There are different aspects of marketing mix or marketing plan that each and every business organisation undertaken according to its business operations. In case of Ecostore involved in health and skin care industry, there are many competitors at market place. There are some giant businesses organisations like Johnson and Johnson, Pfizer and AstraZeneca are some competitors that Ecostore has. Different business organisation or competitor has different marketing mix or marketing plan that supports their business products and other business operations. Company Product Price Promotion Place / Distribution Ecostore Organic products with suitability characteristics. Ecostore is involved in much product line and it almost covers each and every aspect of skin care and health industry. Pricing of Ecostore is at higher side because of quality material and end product quality is of premium. Ecostore has adopted personal selling and sales promotion as promotion strategy for its product line. There is less intermediaries involve in Ecostore distribution system. Marketing agent is the key person that undertakes many activities for Ecostore. Johnson and Johnson Johnson and Johnson is one of the leading brands in term of health and skin care. It offers wide range of products and services to customers. But these are not organic in nature. As Johnson and Johnson is developed brand in the market place, therefore it enjoys premium pricing strategy in the market. Customers are ready to pay any amount for product of Johnson and Johnson. Johnson and Johnson undertake aggressive promotion tools into account. They use more of media for their promotional activities. TV advertisements, hoarding advertisements, etc are some promotional strategy elements of Johnson and Johnson (Ranjbar et al., 2012). Distribution channel of Johnson and Johnson is quite huge since it covers majority of market share. Recommendations for improvement of marketing mix In order to improve marketing plan Ecostore is required to make certain changes to it. Ecostore has some limitations in terms of its products and its prising strategies. Although products of Ecostore is very popular but are limited in terms of its attributes. Main element of Ecostores product is its use of organic material and organic nature. This has created some limitation in terms of useability and moveability of its products (Brooks and Simkin, 2012). On the other hand, pricing of its products is at higher side, which makes it unattractive to certain section of market. In terms of promotional strategy, Ecostore is required to undertaken some aggressive and vast coverage promotional tools. At present, promotional tools of Ecostore is not good enough to accommodate or attract vast section of society. In order to improve marketing mix or marketing plan of Ecostore in term of its product, following are some strategies shall be adopted: Product Modification- Ecostore can modify some attributes of its products so as make it more easy to use and increase usability. Changing characteristics or features of product can be treated as modification of product. Product characteristics or features can be modified only on three basis and they are; quality, appearance and functions (Luan and Sudhir, 2010). Ecostore has to rearrange some features of products so that they are able to attract more and more customers toward their products. Systematic or careful changes shall be undertaken by the management of Ecostore so that it does not hamper requirement of customers from the product. Change in functionality of the product may improve its functionality; product will became more convenient for its user and safer in terms of its usability. Product Mix Decision Modifying Mix Changing Mix Width- Changing mix width is process of changing wide verity of product line that business organisation has. Since Ecostore offers different types of products or involves different product line therefore they can change their product line as per the requirement of changing market and of its customers. They are producing many products of same product line, in this way they can shorter or increase their products in particular product line (Voina, 2004). Modifying Mix Consistency- Another measure that can be undertaken by Ecostore is to modify their mix consistency. Mix consistency in the product line can be defined as the situation of having different products with close usability or close functionality with each other. In case of Ecostore, they are involve in different product line having many different products in it and has close functionality level. Therefore Ecostore can change their or modify their products of particular product line (Sriram et al., 2006). Product Mix Decision- Another way to manage product mix or product in marketing mix or plan is to take decisions related to increase or decrease products in product line. Product mix is the decision that is taken on the systematic analysis of market or product performance of Ecostore. Product mix decision can also be taken on the basis of performance of product in the market and if that particular product is nor performing well using more resources of business organisation (Shen, 2014). Then in this case, product production shall be close to an end. In this manner, Ecostore has to shut down some its products so that perform better in the market. Conclusion From the above report it can be concluded that marketing mix is the most important element for business effectiveness. It can be concluded that Ecostore has been enjoying product differentiation strategy in terms of sits products. Ecostore has been involved in production and distribution of organic products, chemical and toxication free health and skin products. This unique feature of Ecostores products has made them different among other. After analysis of their marketing mix it can be analysed that pricing policy and promotion activities needs to be modified bit so as to attract vast population. It can be concluded that product mix decision, modifying mix consistency and changing mix width are some methods that shall be adopted by Ecostore to make changes in its product category. References Brei, V.A., D'Avila, L., Camargo, L.F. 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