Developing Strategic Management and Leadership

Developing Strategic Management and Leadership Management is the group of people who make decisions on how the business can be run and profitable in all dimensions of the organizations or company according to Gold (2010). In fact, these individuals who are involved in the decision making of the organization and are called the management are responsible and accountable before the strategic leadership in the organization. The second definition that can be given about the management is the initiative and maintenance of an investment portfolio in the business organization in all the ways to success achievements according to Harrison (2002). This is the management in which the organization deals with dealing of matters in different sectors for improving the productivity and profitability in every area of the business of the organization. LEADERSHIP: Johnson (1992) opines leadership is quality or art of influencing others or motivating a group of people to the task in order to achieve the goals in the business organizations. Leader is the one who holds the qualities of the leadership and is also the person who inspires others and directs them to do something extraordinary for common goals. People not only follow the leader but they also do that willingly and happily. True leader takes his/her people with and step forward with the great morale and team spirit. LINK BETWEEN LEADERSHIP AND MANAGEMENT: Bill Gates is the leader and pioneer of Microsoft Inc, but he is not a manager. This statement shows the position of the leader and the manager. The manager must have the leadership skills but on the contrary for the leader it is not compulsory to have the managerial skills as these skills are important for the leader but the vision is the goal of the leader but the manager works for targets and tasks for the specific time period and for the certain period of time. Leadership and management both are important in the organizations or even in the industries. Leaders are welded to the performance and it is also the duty of the leaders to increase the productivity in different sectors of the organization. Management with good leadership qualities and the leadership with managerial competencies is the demand of the organizations around the globe. Task 1.2 Analyse the impact of management and leadership styles on strategic decisions. IMPACTS OF MANAGEMENT AND LEADERSHIP STYLES ON DECISIONS: Dynamic leadership always does its best to influence the environment and the environment is the situation in which the decisions are to be taken as the needs arise in the organizations. There are different styles of management and leadership in the business world. PARTICIPATIVE MANAGEMENT AND LEADERSHIP STYLE: Kouzes (2008) states that the participative leadership and management style are open and flexible manner of management where employees have the prominent decision making role in the organization and the participation of the employees is considered as the asset of the organization. So this is very important factor in decision making of the organizational setup. This style is very much appreciated in progressing and growing organizations. Employees feel responsible and honoured by the leadership which boosts the morale of them in order to complete the tasks of the organization. This leadership style helps in the organization in decision making and when this style is applied, the team work and dignity of the employees come forth and they become more and more productive. PERSUASIVE LEADERSHIIP AND MANAGEMENT STYLE: Megginson (2003) opines the Persuasive leadership style is all about the quality of the leader in which the leader convinces people around him/her in all the effective ways to achieve the goals of the organization. This style is not possible if the leader fails to convince other people. Persuasion is the essential proficiency for all the leaders as they take people to the level where they can perform their best and be more and more productive in the organization. The ideas and approaches of the leader must appeal the people around the leader for the common goals and objectives in the organization. This style can develop the unity in the organization and the employees and if the decision is take by the agreement of the employees then it increases the accountability in the employees in the organizations. Evaluate how leadership styles can be adapted to different situations. IMPLEMENTATIONS OF THE LEADERSHIP STYLES IN DIFFERNT SITUATIONS: Both of the styles stated above are the need of any progressing and developing organization around the globe. Which one is suitable for the organization, depends on the situation from which the organization is passing through. Most of the bureaucratic organizations being the strict in the rules and regulations make the employees feeling bored and the work becomes just and obligation and burden for them to hold. People lose their creativeness and become like the robot and just commitment becomes a burden for them. These situations give birth to the less productiveness and profit as well. If in this situation the leadership decides to give the chance of participation and cooperation and promote team spirit then the employees come to know that they are not just the machines but the human beings and everyone is unique and precious in the way he or she is. Everyone in the world has some hidden qualities and the only thing is to give that particular one chance to show what that person has what should be considered while taking the decisions of the different department of the organization. As this is simple and effective so the organizations must follow these styles. Now the persuasive is the manner in which the employees might come to know that they are special because the leadership will persuade the employees or staff with the highly professional and reasonable way. So the persuasive and participative both the styles go together in the organizations have the situation in which people feel being bored. 2.1 Review the impact that selected theories of management and leadership have on organisational strategy in your chosen organisation. MANAGEMENT AND LEADERSHIP THEORIES: Leadership skills are the essentials for the leadership in any business organization. If the organizations promote the leadership development methods then the success is obvious and there is no way that the situations may come in the pace of success. There are different leadership theories by which the effectiveness and need of the leadership become more and more essential. The few of the theories are given below to clear the picture of leadership in organizations. SITUATIONAL THEORY: This theory states that leaders everywhere behave in the certain way of their leadership which depends upon the situation of the time and the scenario of the company. Moon (2000) opines there can be different situations in which there might be possible leadership behaviour but these behaviours also depend on the situation of that specific time period. In the organizations, this theory is very popular and effective because it goes with the flow and need of that particular time and the best decision is the decision that is done according to the time and demand of the organizations. CONTINGENCY THEORY: This theory has very close resemblance with the first theory (Situational Theory) and this theory is all about the alternatives and options in order to deal with the problems that come in the way of the success in any dimension of the organization. Mumford and Gold (2004) state leadership must have answer to every question arises in the growth and this is only feasible and possible when the contingency theory is applied in the organizations. Tesco Plc has high rate of such a dynamic leadership which always have alternatives and options as well as the answers to the questions that come in the situation of the danger or need of the organization. PARTICIPATIVE THEORY: Treasy (1998) opines the participative leadership and management style are the open and approachable manner of supervision of the organization and the monitoring with the passion and comforts is really seen in this leadership theory. Everyone in the organization feels pride and honoured to be involved and get their precious opinions be answered in the company really appreciates them. So this theory is very important when the employees feel burden while working in the organization. Tesco plc is promoting this theory in every departments and gives right to all of its employees to take part in new strategies and planning as everyone has got the right to comment and give suggestions and drop their precious opinions in writing form and the suggestion boxes everywhere in the stores. TASK 2.2: CREATE A LEADERSHIP STRATEGY THAT SUPPORTS ORGANIZAITONAL DIRECTION: INNOVATIONS IN THE ORGANIZATION: There are different strategies that give the direction to the organizations. One of them is the INNOVATION that is very effective and the most important factor of the organization. Every organization has to develop the creativeness that develops the innovation. This strategy is the unique and potential strength of the organization. Gold (2010) opines the process in which an idea of any individual is translated into a good or service for what people would love to pay and give attention. Companies or organizations have special people who are supposed to do create and bring new ideas in the form of innovation and these creative and innovative leaders are the real assets of any developing organizations. HUMAN RESOURCE IN ORGANIZATIONS: Human resource is one of the most effective departments in the organizations that direct the organization in the way of growth and development. There are different human resource activities that are performed by this department in the organizations. Human Resource Management deals with different issues in the companies, some of them are the most important because of their need and necessity in the organizations. Human resource is the vast department that organizes the major issues in the organizations. The first activity of the human resource is the Recruitment and Selection in the companies. Harrison (2002) opines that the in the recruitment the duty of the HRM is in various sectors. Firstly, it publishes or advertises the need of the organization or the companies as the vacancy comes in them. This is also the duty of the HRM to contact with the recruitment agencies for the better selection of the candidates in the companies. After the ads the term comes when the candidates come to the recruitment section and the interviews take place, if somebody passes the interview then it is the chance for that candidate to go further and get the training to join the organization for the post he has applied or for the post the admin believes that the person can perform well according to the capability of the candidate. This is the very important aspect of the companies. If the right people are not coming in the companies then it will be impossible to have more and more innovative ideas in the companies. From the very first stage to the ending stage the HR plays the significant role in bringing the right people in the companies. The second activity the HRM is the Performance Management which is simply the encouragement of the employees. Johnson (1992) states the performance management is the criteria to check the performance of the employees and then to bring the unity and uplift the morale, there should be the regular behaviour of the appraisals and the rewards by the companies. The companies do their best to have such an opportunity to arrange the reward system in the organizations. This is very important that the companies can only help the employees if they are the showing their excellent performance in their duties and their responsibilities. Performance of the employees decides who the next for the reward and the encouragement is. Performance management is the main factor in the organizations in the term of reward system of the employees. In the Tesco Plc, both of these strategies are implemented in order to direct the organization on the way of success and development in all the stores and branches around the globe. TASK 3.1: USE APPROPRIATE METHODS TO REVIEW CURRENT LEADERSHIP REQUIREMENTS: GLOBALIZATION: Moon (2000) states Globalization is the system of the interaction among different countries of the world and the purpose of this interaction is to develop the global economy. This unique economy building system refers to the integration of economists and societies around the globe. This also covers the technological, economic, cultural and political exchanges in the organizations and the communications, infrastructure and transportation is also the fruit of this globalization. There are two types of integration. The first one is called Positive and the second is the Negative integration. The positive integration is used to aim at standardizing international economic laws and policies. In this the countries have their own policies on their tariffs. In the negative integration, Mullins (2010) states negative integration is the breaking down of trade barriers of protective barriers or protective barriers such as tariffs and quotes. EFFECTS OF GLOBALIZATION: Different economists gave their different opinions about the effects of the globalization. There are different changes that can be identified through the globalization. The first effect is the improvement of the international trade. There are more and more countries in demand of the products. Second effect is the technological progress which is because of the demands from the customers throughout the world. Third one states the increasing influence of multinational companies, the companies that have their own subsidiaries in various countries is called the multinational. This is the third effect of the globalization in the business world. Then the fourth one is power of the WTO, IMF and WB. Globalization has these prominent effects everywhere in the world. INTEGRITY LEADERSHIP: Treasy (1998) states the integrity leadership is the best tool of getting the trust of the employees and involve them from their heart and prove themselves as the role model for all the employees around them. This is very important in the organizations to have integrity among the staff so that the environment remain calm and beautiful full if dignity and commitment. Both of these methods of the requirements of the leadership in the organizational positions and every progressing organization needs to prove that they are rich in terms of their globalization and integrity in all dimensions. TASK 4.1: PLAN THE DEVELOPMENT OF LEADERSHIP SKILLS FOR A SPECIFIC REQUIREMENT: ON THE JOB TRAINING: The firs development method is ON-THE-JOB TRAINING which is one of the effective development methods in the companies. Mumford and Gold (2004) state that the process of the on the job training is to arrange and the purpose is to enhance the abilities of the employees in the corporate settings of the organizations. The environment in the organization is suitable for the employees and as well as for the leaders to teach and for the employees to learn and understand the guidelines given by the authorities. There are the reasons that make the on the job training important. In this the leaders demonstrate the presentations which encourage the trainees to get the idea and after that there is the element of the coaching in which the relationship becomes strong and the trainees learn in a beautiful way. In the trainings, the employees can even get the understanding to get the appropriate knowledge about the other departments in the companies. ORGANIZATIONAL LEADERSHIP: The second development method is the Organizational Learning which is learning method in the organization which is highly appreciated and required. Mullins (2010) states that the organizations that influence the employees on the regular bases with the knowledge and information. Organizations that promote the practice of the learning are the learning organizations and these learning organizations are run by the HRM because the humans are the main assets in the HRM. So the department does its best to empower the employees with the skills and knowledge. TASK 4.2: REPORT ON THE USEFULNESS OF METHODS USED TO PLAN THE DEVELOPMENT OF LEADERSHIP SKILLS: DEVELOPING LEADERSHIP VERSUS RECRUITING: Planning and Development methods are explained in the above paragraph. Mullins (2004) opines that the advertisements help the readers to know the vacancy in the companies and the leadership in the organizations also receives the right selection of the employees. This is the first planning method in the recruiting and the effectiveness can be measured with the results or the achievements done by the companies after the exact staffing in any organization. The next is the online recruiting process in the companies. Megginson (2003) states there are the recruitments which are undertaken with the help of the online recruiting processes. These kinds of recruitments are called the external type of the recruitments. But the other type of the recruitment is the internal and the internal recruitment is the exchanging and the promotions and then the filling of the vacant places in the companies. The effectiveness of the recruitment and selection is monitored and done by the HRM and the results can be seen in the form of the dynamic leaders that are brought every year in the companies by the leadership planning methods. In the development of the leadership there are two methods. The first one is the on the job training and this method is very impressive and authentic in the companies. If the trainings are given on the job then the employees can learn better and be the best part of the organization. The second one is the organizational learning. There must be the organizations which encourage the idea to make the flexible environment for the employees to get the valuable information and then become the dynamic leaders of the companies. Both of these methods are very important and effective in every situation of the organizational learning processes. TEXT BOOKS REFERENCES: Gold, G. (2010). Leadership and management Development. London. Chartered Institute of Personnel and Development. Harrison, R. (2002). Learning and Development, London. Chartered Institute of Personnel and Development. Johnson, K, B. (1992). Business Bureaucracy, How to Conquer your Organizations worst enemy, London. The McGraw Hill Companies. Kouzes, J. (2008). The Leadership Challenge. 4th Edition. London. Jossey-Bass. Megginson, D. (2003). Continuing Professional Development, London. Chartered Institute of Personnel and Development. Moon, J. (2000). Reflection in Learning and Professional Development, Theory and Practice, Manchester. Routledge Falmer. Mullins, L. (2010). Management and Organizational Behavior. 9th Edition. London. Prentice hall. Mumford, A. and Gold, J. (2004). Management Development. London. Chartered Institute of Personnel and Development. Treasy, D. (1998). Successful Time Management in a week. Hodder. Stoughton.

James Boag Marketing Report

James Boag Premium â€Å"What would you like to drink today? † Strategic Marketing Planning MBA 9006 Marketing Semester 1, 2008 Table Of Contents Page Executive Summary:3 The beer market:4 Market share:5 Financial overview:5 Strategic Gap:7 Strategic Positioning:8 Product Life cycle:8 Boston Consulting Group and GE/McKinsey Matrix:9 Competitive Advantage:10 Ansoff Product – Market Mix:11 Marketing Strategy:12 Target Market:12 Brand Positioning:13 Product Strategy:15 Pricing Strategy:15 Distribution Strategy:16 Integrated Marketing Communication Strategy:17 Advertising17 Sponsorship17 Point of Purchase and Packaging17 Promotion17 Public Relations18 Marketing Budget:18 Implementation:18 Evaluation and control:19 Conclusion:20 Appendices:21-36 Executive Summary: Beer sales in Australia have been showing a downward trend, with the exception of the premium beer segment which has shown a strong growth of 9% annually. The James Boag premium beer has established itself as the #2 brand of premium beer in Australia. Building on our strategic acquisition of James Boag we hope to continue increasing our market share of this growing premium beer segment by exploiting and building further on James Boag brand equity. In 2007, 78% of our sales revenue was generated from beer, thus protecting this segment becomes crucially important for us to maintain our financial profits. Beer sales revenue has been growing at 5% pa for the previous years. With the increased drive on marketing for the James Boag brand we hope to capture a healthy share of the growing premium beer segment and also nhance this growth to 6% pa for the forecasted periods of 2008-2010. As the premium beer segment is in a growth phase, James Boag premium beer is strategically placed as a â€Å"Star†. Increased investments towards building the brand and increasing market penetration would help generate greater financial profits. However this strategy would require an increase in marketing expenditures to the tuneA$54 million in 2008, a rise of 10% pa compared to the previous average of 2%pa. This increase in expenditure would allow us increase our total market share of James Boag premium beer to 18% from its present 9%. This Strategic marketing plan proposes a strategy to not only meet financial objectives, but also to reinforce, and increase brand awareness. Capturing market share by highlighting differentiated value, as against devaluing our price, would be the main focus of our growth strategy. The new product development of the James Boag premium light would help capture the growing female beer patron segment. Introduction of Casks and Draught beers at pubs and restaurants would further strengthen the availability, market share and brand image of our range. For our James Boag range we would introduce specially embossed serving glasses, distinctive packaging, associating the range with other premium luxury bands, targeting corporate events and membership boxes at premium sport events, would be some of the key strategies. In terms of pricing, we would like to maintain our present price of A$50 per case, in order to communicate the premium status, and also indicate the price –value relationship of our brand. This plan also exhibits a staggered implementation, evaluation and control plan for our organization over the periods 2008-2010. Success of the implementation would be closed monitored by clearly defined performance indicators. The beer market: The beer market has lost some its share to wines and other healthier alternatives. However, though the beer market in general is declining in share, the premium beer market has shown an increase in its share value since 2002 till present. Data monitor 2006 (Appendix A: Exhibit 1) Beer in Australia gives the total value of the beer market segment in Australia at $3,939 million AUD. The growth of the total beer market has been around 2% for the past 5 years, and the premium beer segment makes about 21% of this market share. The premium beer segment is poised to grow at around 10% per annum and in the past year itself the growth of the premium beer has been at 9. 1% by volume. (Appendix A: Exhibit 2) The table below shows the forecasted growth in value for the beer market in total and the relative growth of the premium beer segment for years 2008-10. Beer market forecast | |   |2008 |2009 |2010 | |Total value in AUD/millions |4,151 |4,234 |4,319 | |Premium beer value in AUD/millions |1,411 |1,736 |2,073 | Lion Nathan has generated 78% of their total sales revenue from beers. This revenue could be threatened by the downward sales trend of the beer market in general. Thus cashing in on the upward trend of premiumisation would be key to the maintenance and growth of the company for the near future. In 2007 majority revenue for the year was generated due to the â€Å"Power brands†, which are Tooheys extra dry, XXX gold, Hahn super dry, and international premium brands like Heineken and Becks. Hahn super dry and International premium brands grew by 18% last year, with Heineken being in the forefront. 1] These power brands can be further divided into the High premium brands like Heineken and Becks and lower premium brands like XXX Gold and Tooheys . The strategic acquisition of James Boag breweries in Nov 2007 has further enhanced the high premium beer range with the addition of the James Boag premium collection. Market share: Lion-Nathan Ltd has 35-39% beer market share by volume. While it’s main competitor Fosters Ltd has been enjoying a market share of 50%. In this duopoly market structure other small breweries comprise of the remaining 10-15% of the market. Appendix A: Exhibit 3). With the shrinking beer market in general, we estimate that the growing premium beer segment shall be the most competitive arena for beer marketing in the near future. With the goal of greater return to the shareholders, and with the vision to become #1 beverage company in Australia, Lion-Nathan Ltd shall have to focus all its strengths in the fight for this growing beer segment. Financial overview: Du-Pont analysis of Lion-Nathan Ltd reveals an asset efficiently ratio of 0. 07 for 2002 to 2005 and there was a sudden surge to 0. 0 in 2006 due to the sale of non performing assets by the company (Appendix B: Exhibit 1). Closer the ratio towards 1 signifies better returns to shareholders. For the period of 2008-10 we forecast that this ratio of 0. 3 would be maintained and further improved by increasing sales revenue and greater market share capt ure. Marketing and advertisement expenditures are forecasted at 10% increment per annum, an increase of 8% from the previous average, this increase is in line with the proposed marketing strategies. The sales revenue of Lion-Nathan Ltd for 2002-2007 has been growing between 4-5% per year. Focusing our efforts on the growing premium beer market segment we estimate that sales revenue growth for 2008-2010 would be at 6% per annum. [pic] |   |2003 | |Existing | | | | | |Market |Market |James Boag Premium Beer New Product Development |James Boag premium light | | |Penetration | | |beer | |New | | | | | |markets |Market |Female drinkers | |Casks and Draught Beers | | |Development |Health conscious consumers |Diversification | | Using the Ansoff matrix above, the following marketing strategy requirement can be identified for James Boag brand: Market Penetration: To increase and maintain sales of existing products – Increase brand profile and strategically link James Boag premium beer with other James Boag products to ensure and increase market penetration. – Explore and build on existing routes to market and strengthen existing relationship with both on-trade and off-trade distribution networks Due to increasing consumer preference for dining out and travelling, there is potential to increase sales through targeted marketing at specific areas. Market Development: – Capitalise on female preferences to opt for premium beer when having one. – Develop strategies to tap into the overseas market New Product Development: The Australian beer market is seeing an increasing trend towards consumption of premium beers. Also as the consumers is becoming more health conscious, through developme nt of James Boag premium light, it would enable us to fulfil both the criteria of an otherwise discerning consumer. Diversification: James Boag till now has been limited by its geographical location and thus has concentrated on branded bottled beers as means of distribution, but now building on distributive strengths of Lion Nathan it should broaden its distribution to include casks and draught beers thus allowing the brand to reinforce its image of quality, taste and freshness. Marketing Strategy: The above analysis would suggest the following strategic implication for James Boag premium Beer. (Appendix C: Exhibit 3) ? Protect Market share and retain loyal costumers Stress brand differentiation to attract and also wean away customers of competitor product. ? Reposition brand if necessary to achieve dominant position ? Emphasize product quality ? Identify and exploit growth segments ? Increase distribution ? Maintain profit margin Target Market: Situational analysis shows that significant amount of premium beer buyers fall under 25-45 years age predominantly male, educated with high disposable inc ome and status conscious. The buying preference is dependent on occasions and situation. However, there is not much brand loyalty. Males prefer to have premium beer on occasion like after work drinks, when entertaining guests or business associates in restaurants and corporate events. Choice of the premium beer usually depends upon the image the brand personifies and availability and they are more likely to pay more for discernible quality attributes they associate with particular brands . Females though in minority are slowly gravitating towards beer drinking and usually prefer to have one in similar occasions like parties, after work rinks and sports events. However, when they do indulge themselves they prefer a premium brand and are more likely to be influenced in their choice by philosophy of the brand, taste of the beer and design and label of the bottle. They are also more likely to ask for a premium light beer in such social occasions for their need to stay in control. Brand Positioning: Consumers choice tends to be driven by image of the brand , awards won, recom mendation from peers and variety available rather than brand loyalty. Thus focusing on brand development will strategically enhance brand power. Branding would also enable us to position our brand to create a better fit between our product and needs and values of the target audience which in turn would help us attract and retain ownership of the customers. This strategy will also benefit by having a spill over effect to other James Boag products. However, the challenge would be to achieve this in a highly competitive market, while appealing to a sophisticated consumer who has a massive range of beverage choices. The key to achieving this would be through, building the brand’s prestige and distinctive values through the advertising campaign in order to differentiate the brand from the aggressive competition in the category and create a proposition that is attractive to premium beer drinkers. The values the brand should position itself to personify are of high quality refreshing beer aimed at successful, in-control, high achieving individuals deserving the best. (Appendix C: Exhibit 4) For this purpose James Boag premium will be marketed as the flagship beer for the brand. In line with the overall strategy, both Premium and Premium light beer bottles would have similar coloured distinctive, easily identifiable bottles with an embossed logo and following brand stickers displayed on them. James Boag Premium James Boag Premium Light The specially designed sticker helps reinforce our brand message of a unique, refreshing, original, premium quality brewed beer and also indicates towards our origins from Tasmania. The back of the bottle will bear a sticker with a short description about the tasting notes and brewing details about the beer. This strategy will work in three ways – reinforce the premium tag, easy differentiation from our competitor’s products and establish ownership over the brand. Other strategies to support in building the brand equity include †¢ Continuing submission of James Boag premium beers into key international beer award †¢ Participate in key federal and state tourism initiative †¢ Actively pursue promotion at key events like corporate functions and sports events( such as tennis, golf, sailing , formula racing etc ) to create association with the brand To this end the allocation for marketing spend on Premium and Premium light beer will be in 70% vs 30% ratio. We will use James Boag’s Premium’s communication campaign to develop the brand values for the James Boag brand whilst the aim of the James Boag’s Premium Light campaign is to predominantly raise awareness of the brand. Product Strategy: The James Boag premium beer will be the flagship beer and our strategy would be to continue to draw consumers to this quality awarded beer. We would leverage the quality and interest generated with this product and seek to drive sales seeing that consumers clearly like this product. James Boag Premium Light will be aimed more towards female market and for times when customers are in light beer occasion. Through this line extension we will seek to extend and expand on our market share and also prevent consumers to turning towards our competitor brand. For on-trade sales through pubs and restaurant, our range would be served in specially crafted James Boag logo embossed glasses. For sales through supermarkets and liquor stores the beer would be sold in distinctive James Boag logo packaging. Corporate functions and sales at other events will be targeted with newly designed and distinctive casks with draining taps. It is hoped these steps would build on our communication campaign to sell our brand as an experience and also at the same time in some manner fulfil the desires and values our consumers are aiming for. Pricing Strategy: The key objective of pricing strategy is association of brand with quality. Product life cycle map of James Boag premium is in the growth phase, which would suggests pricing strategy should be, to maintain price and retain consumer base. Consistent with our brand strategy of focused differentiation, it would be recommended that the most appropriate method of creating pricing strategy would be to use price-value relationship. Price-value relationship would allow us to indicate our product is premium , and our brand satisfies key values the consumers are looking for. However, it would be important to price our product strategically as pricing above the market leader may discourage purchase, whilst pricing too far below signals an inferior product offering. Currently we are priced at least $50/case, and we recommend maintaining this while keeping a close eye out for competitors pricing and then reacting appropriately (Appendix D : Exhibit 1). Distribution Strategy: Key opportunity for James Boag premium is to exploit the availability of Lion Nathan’s already existing large distribution network. Based on this our distribution strategies for the next 3 years will be to focus on following multiple channels On-trade: Consistent with our overall strategy to increase market penetration through generating brand awareness and attracting more drinker to try our tipple which we hope will transfer to increase buying for domestic consumption; on-trade channels would be of prime importance. We are expecting to increase penetration by at least 40% by subscribing to restaurants and pubs which currently are available through the Lion-Nathan channel network . These locations will also be provided incentives like free embossed glasses to promote and sell our draught beers. Off-trade: With an intent to retain the customers who try our products through on-trade establishments off-trade channels like supermarket and liquor store would also be consistently targeted with regular promotions and negotiating for more shelf space. We expect to increase our penetration by 30% in off- trade establishments in the next 3 years through this strategy. Events: Specific events both corporate, sporting and social events would also be important for our marketing strategy , We hope to increase our distribution to such events by 30%. Also keeping in mind the technological changes and the savvy nature of our typical customer we propose to launch direct ordering online for bulk buys for social and corporate events. Integrated Marketing Communication Strategy: The prime target for marketing activity is the 25-45 years old individuals. The following marketing activities will form the overall communication strategy with main focus being the end users: Advertising †¢ Print advertising in weekend edition of newspaper like The Age, The Australian, Weekend Financial Review and in upmarket business and lifestyle magazines highlighting both premium ranges. Commercials on TV and Cinema before specifically identified shows and movies which conform with the image of the brand. †¢ Dedicated web site with information and brand message of James Boag. The content will be directed at our target consumer with information about promotional events, product details , games , discussion forum and James Boag online club. Sponso rship †¢ Sponsorship of key upmarket events like Tennis, Golf, Racing , Grand Prix and Sailing. †¢ Also concentrating on Federal and State business award functions. Cultural Events like Moonlight cinemas, Operas and Theatre Point of Purchase and Packaging †¢ Distinctive signs and displays positioned at point of sales in supermarkets , liquor stores and bars. †¢ Review of all packaging and bottle labels to align the brand message. Promotion †¢ In house promotion at upmarket bars, restaurants and lounges †¢ Business conventions and corporate events †¢ Motor shows, Horse racing cups , Gourmet food road shows. †¢ â€Å"Stealth Marketing† to celebrate the purchase of another luxury brand item like a car with a James Boag premium. Public Relations †¢ Networking dinners held and attended by General Managers with specific attention towards corporate functions. †¢ Opening of James Boag Centre for Beer in Launceston, Tasmania which will house company’s memorabilia, with a tasting bar and organised tours through the brewery and also sell branded merchandise. This would allow a visitor to become educated about the brand and turn them into ongoing loyal customers by giving them ownership over the brand. The centre will be advertised through tourist publications. Marketing Budget: The full budget for 2008-10 periods is shown in Appendix in line with corporate objectives requirements. The product market expenditure strategies are based on anticipated expenditure. (Appendix E: Exhibit 1) Broadly the divisions will be made as follows – 50% for market penetration of James Boag premium beer – 10% for market development – 30% towards James Boag premium light beer – 10% for diversification Implementation: The budget for the 2008– 2010 Strategic Marketing Plan is based on targeted revenue objectives with provisions for proposed activities recommended in the plan. The proposed fund allocations range for the marketing costs are consistent with the requirements prescribed in the strategic marketing plan for product, pricing, distribution, IMC strategies and predicted sales revenue growth (Appendix B: Exhibit 9-13). In the marketing budget, the IMC component has the highest allocation to meet the increased advertising due to product and brand positioning strategies, promotions and new product launch activities. Implementation of the strategic marketing plan will begin in the Q3 of 2008. Details of the implementation in terms of activities, ownership and timelines are provided in (Appendix F: Exhibit 1) Evaluation and control: Performance evaluation and control of the strategic marketing plan for James Boag premium will include tracking indicators such as Customer satisfaction, Brand loyalty, Sales, Market Share, Distributor satisfaction. Monitoring of these key indicators enables management to measure performance and to take corrective action when variances are revealed. The following table shows how and when these indicators are captured and made available for making decisions on changes to Strategic Marketing planning. Indicators |Metric used |Frequency of review |Data source | |Market share |  % market share by value &|  Monthly |  Data monitor | | |volume | | | |Sales performance |  Sales revenue |  Weekly |  Financial systems | | | | |reports | |Customer satisfaction/Loyalty |  Survey |  Annually |  CRM systems | |Profitability |  Gross marg in |  Monthly |  Financial system | | | | |reports | |Competitive Position |  %share by value & volume |  Annually |  Data monitor | |Distribution satisfaction |  Survey |  Quarterly |  External agency | Conclusion: In summary, we recommend that to achieve our desired increase in market share we would have to adopt a focus differentiation strategy. This would in turn require an increase budgetary allowance to the tune of 54 AUD million in 2008. Overall strategic marketing plan is to concentrate on 1) Increase brand awareness: This would help us increase our market share by attracting new customers and help maintain loyalty. 2) Increase market penetration: By strategically aligning pricing and distribution to the brand. 3) Line extension: Introducing James Boag premium light would allow us to attract the growing female segment of the market and extend our consumer base. 4) Maintain the cost price ratio Appendices [pic] Appendix A: Beer Market Exhibit 1: Data monitor 2006 – Beer in Australia [pic] Exhibit 2: Total Value growth by Beer subsector [pic] Exhibit 3: Market Share of Competition [pic] Appendix B : Financial Overview Exhibit 1: The Du Pont Identity (also known as Du Pont analysis or Du-pont analysis) is an expression which breaks Return On Equity (ROE) into three parts. a) Operating efficiency – measure by profit margin b) Asset use efficiency – measured by asset turnover c) Financial leverage – measured by equity multiplier In the analysis the ROE is calculated by the formula: ROE= Net Profit After Tax/Sales * Sales/Assets * Assets/Equity Du-pont Analysis | |   |NP/Sales |Sales/Assets |Assets/Equity |Analysis | |2002 |0. 10 |0. 40 |1. 88 |0. 07 | |2003 |0. 10 |0. 41 |1. 79 |0. 07 | |2004 |0. 09 |0. 43 |1. 71 |0. 06 | |2005 |0. 13 |0. 43 |1. 63 |0. 09 | |2006 |0. 12 |0. 71 |3. 46 |0. 30 | |2007 |0. 14 |0. 75 |3. 16 |0. 34 | Exhibit 2: Return on Equity Lion Nathan Ltd. 2003-10 [pic] |   | |   |2008 |2009 |2010 | |Market share increase in total |40% |42% |43% | |Value increase total in AUD/millions |1,661 |1,757 |1,857 | |James Boag Premium beer share increase |12% |15% |18% | Total Sales Revenue Forecast Lion Nathan Ltd Year 2008-10 Lion Nathan Ltd forecast | |   |2008 |2009 |2010 | |Total revenue growth at 6% per annum AUD/millions |2,129 |2,253 |2,381 | Exhibit 8: Strategic Gap Lion Nathan Ltd. 2008-10 |Strategic Gap | |   |2008 |2009 |2010 | |Current growth estimates @5% annually. |2,065 |2,169 |2,277 | |Projected growth estimates @6% annually. |2,129 |2,253 |2,381 | |Gap AUD /million |64 |84 |104 | Exhibit 9: Estimated revenue from existing products in existing markets (market penetration) |Millions/ AUD |Year 2008 |Year 2009 |Year 2010 | |Est. revenue via current | | | | |strategies * |2065 |2169 |2277 | |Additional revenue via modified | | | | |strategies** |32 |42 |52 | |Total revenue | | | | | |2129 |2253 |2381 | Restated the current revenue projections **estimate 50% of gap Exhibit 10: Estimated potential revenue from existing products in new markets (market development)* |Millions/AUD |Year 2008 |Year 2009 |Year 2010 | |Est. revenue via market | | | | |development strategies * |15 |20 |25 | * James Boag premium brand positioning via advertising and promotions. Exhibit 11: Estimated potential revenue from new products in existing markets (new product development)* |Millions/AUD |Year 2008 |Year 2009 |Year 2010 | |Est. evenue via NPD strategies *| | | | | |5 |7 |10 | * James Boag Premium light** targeted at female consumers and for occasions when staying is control is impor tant. Exhibit 12: Estimated potential revenue from new products in new market segments (related diversification)* |Millions in AUD |Year 2008 |Year 2009 |Year 2010 | |Est. revenue via related | | | | |diversification strategies * |12 |15 |17 | Exhibit 13:Fulfilling Strategic Gap Year 2008-10 | | | | |Millions/AUD |2008 |2009 |2010 | |Market penetration | | | | | |32 |42 |52 | |Market development | | | | | |15 |20 |25 | |New product development | | | | | |5 |7 |10 | |Related diversification | | | | | |12 |15 |17 | |Total | | | | | |64 |84 |104 | Appendix C: Strategic Positioning Exhibit 1: Boston Consulting Group Matrix: |James Boag premium market share|Largest competitors market |Ratio |Relative market share | | |share | | | |9. 1% |24% |2. 6 |High | Source James Boag market report Key : Ratio < 1. 0 – Not a market leader Ratio = 1. 0 – Tied for lead Ratio > 1. 0 – Market Leader Exhibit 2: GE/McKinsey Matrix: Key: Score > 0. 5 –High attractive Score = 0. 5 – medium attractive Product line: James Boag Premium Score < 0. 5 – non attractive |Market attractive elements |Weight Score Rating | |Market factors |25% |0. 9 |23% | |Competition |25% |0. 4 |10% | |Financial and economic factors |20% |0. 7 |14% | |Technological factors |15% |0. |11% | |Socio-political factors |15% |0. 8 |12% | | | | | | | | | | | | | | |70% | |Total | | |High | Business position elements |Weight Score Rating | |Brand Image |20% |0. 9 |18% | |Economies of scale |15% |0. 8 |12% | |Product focus/differentiation |15% |0. 7 |11% | |Reliable supply of raw materials |10% |0. 7 |7% | |Distribution networks |15% |0. |12% | |Quality assurance |15% |0. 8 |12% | |Manufacturing technology |10% |0. 8 |12% | | | | | | | | | |84% | |Total | | |High | Exhibit 3: Marketing Strategy Analytical tool used to map James Boag |Strategic position for James Boag Premium (market attractiveness combined with | |Premium |competitive position) | |Product life cycle |Growth – Increase market shar e thru penetration, build intensive coverage , emphasise | | |brand loyalty, maintain prices, | |BCG Product Portfolio model |Stars – Invest for growth thru geographical expansion, line expansion and via product | | |differentiation | |GE/McKinsey model |Invest to grow and concentrate on maintaining market share | |Porter’s 5 forces model |Moderate overall market attractiveness – market conducive for investment with high | | |competition. | |Porter’s CA strategy model |Focused differentiation | Exhibit 4: Brand Positioning and Development : The brand will be positioned keeping in mind the typical customer profile of a premium beer drinker, and the values they aspire and relate with. In line with this strategy the communication campaign through print and media advertisement will aim to depict James Boag brand providing a consumer with a image of a successful, in-control, high achieving individual who are looking for the best. This message will be reinforced through product cues like a easily distinguishable and specially designed bottle and brand logo and also an efficient customer relation management. The message of brew quality will be strengthened through a robust quality control mechanism with a clearly stated shelf life period. Appendix D: Pricing Strategy Exhibit 1: Comparative price of Premium Beers Sector |Brand |Case Price* | |Mainstream |Victoria Bitter |$33 | |Light (2-3% alc. vol) |Hahn Premium Light |$22-$24 | |Light (2-3% alc. vol) |James Boag’s Premium Light |$29 | |Premium |James Boag’s Pr emium |$50 | * Case Prices vary widely, dependent on individual retailer price promotions, but these prices represent an average Appendix E: Marketing Budget Exhibit 1: Marketing Expenses Marketing budget allocation | |   |2008 |2009 |2010 | |Amt in AUD/Millions |   |   |   | |Total Marketing budget |362. 0 |398. 2 |438. 0 | |Marketing budget for James Boag range-15% |54. 3 |59. 7 |65. 7 | |Allocation | |Market penetration (IMC)-50% |27. 2 |29. 9 |32. | |Branding costs |10. 9 |11. 9 |13. 1 | |On trade expenses |8. 1 |9. 0 |9. 9 | |Off trade expenses |5. 4 |6. 0 |6. 6 | |Event sponsorship expenses |1. 4 |1. 5 |1. 6 | |Misc Advertisement and Promotion costs |1. 4 |1. 5 |1. 6 | |Market develoment-10% |5. 4 |6. |6. 6 | |New product development-30% |   |   |   | |James Boag Premium light |16. 3 |17. 9 |19. 7 | |Diversification-10% |   |   |   | |Casks and Draughts |5. 4 |6. 0 |6. 6 | Appendix F: Implementation Plan: [pic] Appendix G: Lion Nathan Financial Statem ent 2002-07 Exhibit 1: Lion Nathan Ltd Financial statement 2002-07 Lion-Nathan LTD- Financial statements (consolidated group figures) | | | |figures in AUD-Millions |2002 |2003 |2004 |2005 |2006 |2007 | |Income statement | |Sales Revenue |1,662. 4 |1,772. 2 |1,841. 1 |1,757. 5 |1,845. 0 |1,967. 0 | |   |   |   |   |   |   |   | |Total Revenue |1,712. 4 |1,826. 4 |2,013. 2 |1,797. 2 |1,883. 1 |2,000. | |   |   |   |   |   |   |   | |Cost of Goods Sold |1,353. 5 |1,446. 4 |1,668. 9 |1,380. 8 |1,484. 6 |1,595. 0 | |   |   |   |   |   |   |   | |Sales and Marketing costs |280. 2 |301. 2 |303. 2 |305. 2 |309. 0 |329. 1 | |   |   |   |   |   |   |   | |EBIT |266. 3 |285. 0 |251. 4 |337. 6 |329. 8 |351. | |   |   |   |   |   |   |   | |NPAT |161. 9 |180. 0 |160. 1 |224. 8 |226. 8 |282. 2 | |Balance Sheet | |Cash on Hand |10. 8 |16. 8 |5. 7 |8. 2 |19. 0 |6. 9 | |   |   |   |   |   |   |   | |Current Assets |504. 0 |528. 7 |610. 2 |490. 0 |541. 4 |544. | |   |   |   |   |   |   |   | |Non Current Assets |3,700. 8 |3,802. 1 |3,656. 8 |3,574. 0 |2,048. 7 |2,075. 7 | |   |   |   |   |   |   |   | |Total Assets |4,204. 8 |4,330. 8 |4,267. 0 |4,064. 0 |2,590. 1 |2,620. 3 | |   |   |   |   |   |   |   | |Current Liabilities |493. 8 |430. 6 |520. 7 |512. 6 |525. 5 |544. | |   |   |   |   |   |   |   | |Non Current Liabilities |1,477. 6 |1,481. 0 |1,254. 1 |1,057. 9 |1,316. 4 |1,247. 5 | |   |   |   |   |   |   |   | |Total Liabilities |1,971. 4 |1,911. 6 |1,774. 8 |1,570. 5 |1,841. 0 |1,792. 0 | |   |   |   |   |   |   |   | |Equity |2,233. 4 |2,419. 2 |2,492. 2 |2,493. 5 |748. 2 |828. | |Cash Flow Statement | |Net Cash from Operating Activities |231. 1 |232. 9 |274. 0 |334. 0 |308. 0 |298. 5 | |   |   |   |   |   |   |   | |Net Cash from Investing Activities |-399. 6 |-108. 0 |-99. 2 |20. 8 |-11 2. 6 |-73. 3 | |   |   |   |   |   |   |   | |Net Cash from Financing Activities |168. 4 |-117. 3 |-218. 6 |-319. 4 |-184. 6 |-237. | |   |   |   |   |   |   |   | |Earnings per Share |34. 0 |33. 7 |37. 9 |42. 1 |48. 6 |50. 2 | Appendix H: Competitors Financial Analysis Exhibit 1: Foster Group Ltd Financial Statement 2002-07 |Fosters Group Ltd ( consolidated figures) | |  Amount in AUD/ million |2002 |2003 |2004 |2005 |2006 |2007 | |Sales revenue |4,572. 0 |4,731. 5 |3,908. 0 |3,972. 3 |4,533. 7 |4,760. | |   |   |   |   |   |   |   | |Gross profit |2,273. 0 |2,344. 6 |1,887. 2 |1,981. 5 |2,067. 1 |2,094. 7 | |   |   |   |   |   |   |   | |EBIT |1,038. 6 |1,023. 4 |949. 0 |1,257. 0 |1,065. 7 |1,116. 8 | |   |   |   |   |   |   |   | |NPAT |560. 9 |470. 4 |806. 0 |941. 0 |1,169. 8 |969. | |   |   |   |   |   |   |   | |Marketing Expenses |300. 8 |313. 5 |343. 8 |379. 6 |350. 8 |360. 1 | |   |   |   |   |   |   |   | |Total Assets |9,511. 0 |9,588. 9 |8,443. 1 |11,745. 3 |10,439. 1 |9,563. 0 | |   |   |   |   |   |   |   | |Total Liabilities |5,299. 1 |5,095. 8 |3,842. 9 |6,801. 2 |5,957. 4 |4,929. | |   |   |   |   |   |   |   | |Total Equity |4,211. 9 |4,493. 1 |4,600. 2 |4,944. 1 |4,481. 7 |4,633. 2 | |   |   |   |   |   |   |   | |Ratio analysis | |   |   |   |   |   |   |   | |NPM ratio |12. 3 |9. 9 |20. 6 |23. 7 |25. 8 |20. | |   |   |   |   |   |   |   | |GPM ratio |49. 7 |49. 6 |48. 3 |49. 9 |45. 6 |44. 0 | |   |   |   |   |   |   |   | |ROE |13. 3 |10. 5 |17. 5 |19. 0 |26. 1 |20. 9 | |   |   |   |   |   |   |   | |ROA |10. 9 |10. 7 |11. 2 |10. 7 |10. 2 |11. | |   |   |   |   |   |   |   | |Debt to Equity Ratio |125. 8 |113. 4 |83. 5 |137. 6 |132. 9 |106. 4 | Exhibit 2: FGL Sales Revenue 2002-07 Exhibit 3: FGL Marketing Expense 2002-07 Exhibit 4 : Net Profit Margin Foster Group Ltd. Exhibit 5: Gross Profit Margin Foster Group Ltd. 2002-07 Exhibit 6: Return on Equity Foster Group Ltd. 2002-07 Exhibit 7:Debt to Equity Ratio Fosters Group Ltd. [pic][pic][pic] ———————– [1] 2007 Annual Report Lion Nathan Ltd – Australia segmental [2] Porter, â€Å"What is strategy? ’, pp 61-78. ———————– The concept of Product Life Cycle postulates that products, like human beings, pass through a number of different phases or stages of their life. The stages are described as introduction, growth, competitive turbulence, maturity and decline. GE/McKinsey Model BCG is a two dimentional model based on market growth and relative market share. The chart on the left sumarises the results obtained for the BCG analysis conducted for the James Boag premium beer line. (For further details refer to Appendix C:Exhibit 1 ). BCG Model Another tool used to identify effective product strategies is the GE / McKinsey model. This is used to identify the attractiveness of the market and the relative position of the brand. (For further details refer to Appendix C: Exhibit 2 ).

We Real Cool, Poetry Explanation

STUDENT NAME PROFESSOR CLASS DATE We Real Cool: Poetry Explication â€Å"We Real Cool† is a poem written by Gwendolyn Brooks in 1959, and published in her book The Bean Eaters (We Real Cool, pg 1). A simple and light poem, â€Å"We Real Cool† is vague enough to allow readers to visualize their own characters and setting, but specific enough to keep a consistent rebellious image. Brook’s attitude toward the characters is undecided, as the tone is neither tragic nor victorious, but more so just balanced and neutral. â€Å"We Real Cool† is written from the perspective of the involved fictional characters.It is as if the reader is in the presence of these characters as they introduce themselves. They speak with confidence and defiance, describing their actions and self-ideals in a rhythmic stanza form. We are not presented with any specific character ethnicities or backgrounds, nor year or time, but we are provided a fictional setting of a place called The Gol den Shovel. Containing only ten sentences, â€Å"We Real Cool† begins with the line, The Pool Players. With this line, we are able to imagine the type of characters we will be following.The assumptions are, there will be alcohol and cigarettes involved, as those are typical stereotypes when thinking about pool halls. The second line within the same stanza is, Seven at The Golden Shovel. From this line we are able to assume or imagine that there are a total of seven characters involved in the scene. With just these two simple lines composed of simple words, imagery is created in order to set the stage for the next stanzas. Moving into the body of â€Å"We Real Cool†, Brooks begins each sentence with the word, We, making it a point that the narrator comprises of multiple people, specifically the seven pool players.The first line to begin the second stanza is, We real cool. This not only states the title of the poem, but also sets the intellectual level of the seven pool players. Grammatically correct, but more along the lines of slang, the last word of this sentence begins the rhyme scheme that will follow. The second half of this stanza is, We left school. This is an obvious statement of action, but leaves the reader questioning whether they left a not-yet-dismissed school day or a school day that had come to an end. As a third option, the reader might also assume they left school for good.The couplets continue in the next stanza with, We lurk late. With this line we can assume the verb lurk is meant to represent a much less gracious movement, an almost monstrous, but comical way of walking. In the poem’s consistent three word lines, the word late is included to end the sentence. This gives the reader an idea of when the poem can possibly take place within the time of day. Although it may not be a literal statement regarding the time of day, as it can also translate to a rebellious activity the characters wish to point out.The second senten ce within this stanza is, We strike straight. This line can also have multiple meanings depending on the usage and perspective of the words strike and straight. Two possible literal translations can be deal with fighting, as strike means hit or punch, while another meaning of strike is how one lights a cigarette. The fourth stanza begins with, We sing sin, a line that can also have multiple meanings. If taken from a paradox angle, the gentleness and innocence of singing contradicts with the literal meaning of sin.This method of verbal irony is what keeps the tone consistently light throughout the poem, and when strategically placed near the middle of the poem allows for a smooth transition from the previous darker stanza. Another translation of We sing sin can also be that the group likes to listen to contemporary music, possibly singing along. In certain days of past, and even currently, music is often labeled as the â€Å"Devil’s Music† by those who choose to be prud e, or overly religious. Ending this stanza is, We thin gin, an assumed reference to alcohol, something not out of the ordinary for a group of ragtag young’ins in this poem.Wrapping up the poem, the last stanza begins with, We Jazz June. A line like this, as did the previous lines, can have multiple meanings, or possible connotation to slang of the days the poem was written. Quite possibly, the literal translation can be that this poem takes place in the summer season of June, with the Jazz portion representing the music genre, Jazz. Jazz June could also be placed intentionally at this part of the poem in order to establish the name of the group of seven, the Jazz June.An additional meaning could be that the terms Jazz June has something to do with slang of those days. The last line of this stanza and poem is, We die soon, translating to a living a fast life on edge. With a rebellious life, this can lead to a shortened life span, as one is susceptible the dangers of life when staying out late, smoking cigarettes, and drinking alcohol. On a positive side, it can also mean, life is too short, and regardless, we will all die soon, so enjoy and be free. â€Å"We Real Cool† is a combination narrative and lyric poem that contains a very simple couplet, rhyming scheme.The simplicity and depth of the poem lasts the test of time as it very much can be relatable to this day and age of Hip Hop. The ambiguity of character background, location and time allows the reader to use their imagination and apply their perspective to the translation. I thoroughly enjoyed Gwendolyn Brooks’ â€Å"We Real Cool† and feel its relevance to contemporary poetry is vibrant and refreshing, making it a timeless piece of literature. Works Cited â€Å"We Real Cool† Wikipedia. 2012. . [Web site with no author. 21 May. 2012 is copyright date and 9 Nov. 2012 is access date. ]

48 Laws of Power - Essay - 12798 Words

The 48 Laws of Power byRobert Greene Maurice Fischer INB491 The 48 Laws of Power Law 1 Never Outshine the Master Make the people above you feel greater than you are, even if they are not. This makes sense in many cases but don’t apply to others. All people working for someone will see that this law will apply to them, the boss or in this case the â€Å"master† is on top. The person on the top, most likely, worked his or hers way up and does not want to be thrown from his or hers throne. It is in the human nature to get rid of threats if one has the power to do this. He may feign appreciation, but at his firs opportunity he will replace you with someone less intelligent, less attractive, less threatening. Do not let that happen Robert Greene†¦show more content†¦Your reputation can reach people before you even have arrived. The only time one can build a new reputation is by moving to places where no one have seen you or heard of you before. Therefore it is important start to build your reputation at the very beginning. You must work to establish a reputation for one outstanding quality, whether generosity or honesty or cunning. Your reputation will spread as you go along, but it will do nothing wrong to make sure that you make that your reputation gets spread. The base of your reputation will help you build a strong and solid reputation over time. Once you have established the foundation and the spread of your reputation, it will be an asset and treasure you have to take constant care of. You must protect it, others might try to attack you reputation. Don’t let that happen. Never appear desperate in your self-defense. On the other hand, an attack on another manâ€℠¢s reputation is a potent weapon, particularly when you have less power than he does. People with more have more to loose, and people who have less will fight harder. Reputation can make your daily life easier when your reputation is built on power, authority and strong basics. It will help you to not only handle people when they are working for you, but it also might help you in the future with upcoming interactions. Reputation is key to power! Law 6 Court Attention at all Cost Appearance is key. ItShow MoreRelated48 Laws of Power - Essay12782 Words   |  52 PagesThe 48 Laws of Power byRobert Greene Maurice Fischer INB491 The 48 Laws of Power Law 1 Never Outshine the Master Make the people above you feel greater than you are, even if they are not. This makes sense in many cases but don’t apply to others. All people working for someone will see that this law will apply to them, the boss or in this case the â€Å"master† is on top. The person on the top, most likely, worked his or hers way up and does not want to be thrown from his or hers throne. ItRead MorePauley Perrette Speech Examples804 Words   |  4 Pagesethos, pathos, and logos. 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