International corporate reporting issues Essay Example | Topics and Well Written Essays - 3000 words

International corporate reporting issues - Essay Example Literally, the differences in the financial reporting system in varying countries have acted as an obstacle in the integration of national economy with global economy (Verschoor, 2011; Alexander, Britton & Jorissen, 2007). Thus, in order to deal with these challenges, IASB and FASB together have been duly engaged in promoting harmonization of financial reporting systems (Whittington, 2008; Mogul, 2003). Emphasising on these aspects of the international accounting standards, this paper intends to identify and explain the six major qualitative characteristics of accounting information. Furthermore, this paper aims to evaluate the application of these qualitative characteristics by Diageo plc focusing on three particular areas. ... The institutions in the accounting standards namely International Accounting Standard Board (IASB) and Financial Accounting Standard Board (FASB) have been involved in developing conceptual framework for enhancing the financial reporting system. The primary objective of this conceptual framework has been related with identifying the major purpose of financial reporting in business in accordance with the prevailing economic circumstances (Obaidat, 2007). In other words, the conceptual framework developed in accumulation of the principles specified by IASB and FASB deals with establishing objectives and guidelines which are expected to serve as the basis for the preparation of financial accounting and reporting standards. It is worth mentioning that conceptual framework mainly consists of four major items which includes: Objectives related with financial reporting Elements concerning with financial statements Recognition and measurement concepts Qualitative characteristics of accountin g information Additionally qualitative characteristics are considered to be one of the vital components of the conceptual framework that supports decision-usefulness and stewardship. Moreover, there are six primary qualitative characteristics that are considered to be vital for economic as well as business decision making according to the specified guidelines in the international standard (Obaidat, 2007). These six elements of qualitative characteristics have been further explained below in relation to their usefulness in terms of decision making and stewardship. Relevance In order to ensure the obtained accounting information to be relevant to creditors, investors and other interested parties, it has been argued that such accounting information

Bob Crachit Essay Example for Free

Bob Crachit Essay How does Dickens use imagery and language to present the character of Ebenezer Scrooge in Stave one of A Christmas Carol? Charles Dickens started writing A Christmas Carol in the 18th Century. Whilst writing the novel he was experiencing a world that had totally forgotten about Christmas and had no time for it. It was the industrial revolution, things were changing and with it the people were. They did not have time to enjoy Christmas they were more bothered about earning money. This is the kind of character Scrooge is which I will explain later on. Being in this kind of world affected Dickens novel; but it also influenced him to create a character called Scrooge. Who wouldnt care about Christmas; and only caring for business and money. Dickens knew that if he could get people into the Christmas spirit by attracting their attention to his novel. But little did he know he was about to re-inject the Christmas spirit into Britain. Dickens kicks off his extravagant novel by introducing a dead character with the name of Marley who he chose to create as a Ghost. By starting off his novel like this Dickens is directly addressing the reader by using the word You: You will therefore permit me to repeat emphatically, that Marley was as dead as a door-nail. By addressing the reader like this it automatically draws the reader into the story as though they are experiencing what Dickens is trying to make them experience by making them apart of the story by being addressed directly. It also makes the reader want to know more for example they might want to know why Marley is dead and therefore this makes them read on. The main character of the novel is named Scrooge. He is present by dickens as a: Squeezing, wrenching, grasping, scraping, clutching, covetous old sinner! By doing this it makes the reader think that Scrooge is an old, mean, miserable man. Of which has no friends in existence excluding his past. Dickens mentions that Scrooge is: Squeezing Meaning that he would Squeeze every last drop out of anything he could, not only money but make people work over their limit. For example Bob Cratchit, his apprentice would work as hard as he could each day, and make Scrooge feel that Bob hasnt got away with easy money. Scrooge is described by Dickens in many different ways; for example Dickens compares him with other things:External heat and cold had little influence on Scrooge. No warmth could warm, nor wintry weather chill him. No wind that blew was bitterer than he. In this small paragraph dickens has used a good use of imagery weather imagery. He compares Scrooge with the weather and shows that he a cold person who could never be warm hearted. Dickens shows that Scrooge has no feeling, nothing can chill him, and nothing can warm him. Scrooge is immensely described as worse than the weather: No wind that blew was bitter than he This meaning nothing could be worse than Scrooge; Dickens insults his own character with no grief. Nothing could be worse than having Scrooge on your case he is bitterer than the wind. Dickens goes on to downgrade Scrooge to nothing by saying rain, show, hail and sleet could: Boast an advantage over him, they often came down handsomely and Scrooge never did. This meaning that the weather could come down gently and calmly but Scrooge is an old man who is not gentle or calm instead fierce and very uptight. Myself as a reader I would feel that Scrooge is an old hag who is most likely very lonely and despises everyone but himself; and that he is very selfish and would never spare a penny to anyone but himself. I would also feel that Dickens is trying to get across a strong description of Scrooge. When Dickens was describing Scrooge a key line is: The cold within him froze his old features. The line above has no meaning, for example it adds to his description and as a reader it could feel as though the cold within him has frozen his good side like an ice age. It exists inside him but he cant release it. Another example is: Hard and sharp as a flint This is a simile; it shows two sides of Scrooge. Flint is a rock; which was used by humans in the Stone Age. It was used for two things, which shows two sides of Scrooge. They used it for warmth which shows that Scrooge could have a good side in him, and they also used it for weapons, to harm things i. e. a tool could cut you. This shows the bad side of Scrooge he is two faced. Once the reader hears about Scrooges appearance, we think as if Scrooge was a ghost, or he was dead with his corpse still existing. Dickens uses adjectives like: Blue lips Red eyes These lines make us think as if Scrooge was dead because he has frozen lips and bloodshot eyes as if he doesnt sleep. It makes the reader feel aware of how dangerously scary Scrooge looks to go with his attitude and lifestyle. The place in which Scrooges house is situated also shows his personality. His house is away from other houses and is in the middle of a business district. Also, inside his house it is dark and gloomy he double locks the doors as if to lock himself away form the world. His house sets the scene for later in the novel. His house reminds the reader of a haunted house; linking Scrooge with his description of being like a ghost. Scrooge doesnt like Christmas. The word which he uses to sum up Christmas is: Humbug Meaning nonsense. Scrooge makes a speech about Christmas to his nephew, part of it is: Merry Christmas! Out upon merry Christmas! Whats Christmas time to you but a time for paying bills without money; a time for finding yourself a year older, and not an hour richer This sums up what he feels about Christmas. He doesnt see the fun side of it, or the religious side of celebrating a special time in the Christian faith. He just looks at the gloomy side, and thinks it is a waste of time. Also Scrooge talks bout money, saying you find yourself a year older, and not an hour richer, and also saying it is just a time where you have to pay the bills showing again he is thinking bout his money and nothing else. Scrooge also says that the poor dont have a right to be happy: What right have you to be merry? What reason have you to be merry? Youre poor enough. Hes saying that the poor should be unhappy, that they are not rich enough to be happy, and that they should be gloomy and sad and not have the right to have a good time. This shocks the reader. Before, the reader just feels that Scrooge is gloomy and lonely, but now they feel as though Scrooge is a cold-hearted, nasty, mean old man who doesnt care about anybody but himself. Later in the novel we find out more about why Scrooge may be like this. I think Scrooge thinks this way about Christmas because of how he was treated by his father when he was a child. His father used to leave him alone and not take him home from boarding school but leave him there in a dull little room reading books. Scrooge once fell in love with a woman called Bell. This brought the Christmas spirit into him but then they broke up and that made Scrooge go back to hating Christmas. When people saw Scrooge in the street nobody would stop him to talk, everyone would leave him alone and not dare speak to him. Even the blind mens dogs appeared to know him; and they saw him coming on, would tug their owners into doorways and up courts; and then would their tails as thought they said, no eye at all is better than an evil eye This sentence shows what everyone thought of Scrooge.

Analysis of 2010 Old Spice Campaign

Analysis of 2010 Old Spice Campaign Introduction This essay aims to analyse the 2010 Old Spice Campaign which began with the release of the â€Å"Man Your Man Could Smell Like† commercial and finishing with the interactive â€Å"Response† campaign. The first part of the essay will explain about the brand Old Spice and the stiff competition it faced which resulted in Old Spice having to change their brand image. The second part of the essay will explain the 2010 Old Spice campaign in detail by explaining the rationale behind its conception, its launching and its audience reception, which was further bolstered by the launching of the â€Å"Response† campaign. The third part of the essay aims to analyse the campaign’s overall effectiveness in terms of a rhetorical context and an audience, market and social cultural context. Finally, the essay concludes by explaining the impact and overall significance of the campaign. Old Spice Old Spice is a well-known brand of male grooming products that has been around since 1938 and was acquired by Proctor and Gamble (PG) from the Shulton Company in 1990, who soon shifted its target audience from the older generation of 40 to 60 year olds, to focus on the younger generation of 13 to 34 year old men. Old Spice soon grew in prominence after PG released several new products under its brand that grew to become leaders in the market, like its men’s deodorant line (Belch and Belch, 2012). Problem However, by 2003 competition arises from the Unilever Axe brand, who are market leaders in Latin America and Europe. Axe’s advertising campaigns relied on suggestive images of provocative woman and evocative taglines (Belch and Belch, 2012). By 2009, stiff competition have resulted in Old Spice falling behind and big losses in market share. By the time of the 2010 Super Bowl, Unilever would begin a campaign for Dove Men’s body wash during the event, which therefore endeavoured Old Spice to shift focus back to them in order to boost sales and inhibit further losses in market share (Gold Effie Winner, 2011). Market Research Severe competition from Axe prompted Old Spice to revitalize their brand image in order to keep up, and thus approached advertising company, Wieden + Kennedy (W+K) in order to achieve it. Research done by W+K found that Old Spice’s target audience of the 13-to 34-year-old males were perplexed from the many types of body grooming products. The target audience was quite withdrawn to spend time and explore the options thoroughly, deeming them too confusing, too lady-like, or frankly â€Å"unsuitable for them†. Most men also perceive body wash as being a female product which is unnecessary for them to use. Old Spice also lacked a manly image and has the fixed perception of being used by old people, which did not appeal much to their target audience of younger generation males. The results prompted W+K to relocate Old Spice as the easy, masculine choice for serious men amidst the complicated, crowded and confusing, body product category (Belch and Belch, 2012). Campaign In February 2010, Old Spice released the â€Å"Man Your Man Could Smell Like† campaign. Objectives: The main objective for this advertising campaign was to change the perception of Old Spice being the product of the baby boomer generation in order to fit and appeal with Old Spice’s new target audience of younger men, which resulted in the creation of the â€Å"Old Spice Guy† (former NFL sportsman, Isaiah Mustafa). Target Audience: Despite the targeted market of the Old Spice product being men aged 13 to 34 years, the campaign targeted women instead as research revealed that most purchases regarding body cleansing made by men were decided by their female counterparts. Old Spice decided to directly reach out to women by telling them that â€Å"I am the man your man could smell like†, which would prompt them to purchase Old Spice in order for their male counterparts to smell like the Old Spice Guy. The aim was to spark a discussion between women and men about the benefits of having masculine-smelling body wash (Old Spice) for men over â€Å"female-scented† brands (Gold Effie Winner, 2011). Commercial: A 33 second video was filmed featuring Isaiah Mustafa as the â€Å"Old Spice Guy† explaining the benefits of using Old Spice over â€Å"lady-scented† body wash brands. Description of commercial as follows: The Old Spice Guy faces the camera and greets the women, wearing nothing but a bath towel, prompting the viewer (in this case, ladies) to look at their male counterparts and back to him a few times in order to compare their attractiveness. He concludes that unfortunately, their male counterparts do not look like him but an alternative is, that they are able to smell like him when they stop using lady-scented body wash and switch to Old Spice. The set then transitions smoothly to a boat out at sea, in which he holds up an oyster that contains, â€Å"two tickets to that thing you love†, before turning into many diamonds flowing down from his hand, and then exclaiming again that, â€Å"anything is possible when your man smells like Old Spice and not a lady†, while the Old Spice product materializes from the diamonds, before the camera pulling back and revealing that he’s on a horse (Old Spice, 2010). Launch: It was decided that the video would be released on social media platforms, rather than the Super Bowl. W+K thus secured search engine keywords that would direct users to the commercial when searching for Super Bowl commercials in order to generate buzz. The video was soon released on YouTube on February 4th, 2010, before going on television soon after. Old Spice’s website and social media pages was altered in order to adapt to the commercial. The website displayed visuals of youthful males participating in various â€Å"masculine† activities. Their Facebook and Twitter pages also featured images of the â€Å"Old Spice Guy†. Print ads also accompanied the release. Post-launch, the advertisements aimed to fulfil another criteria which is: getting males and females to start conversations about the campaign. The media buy was thus aimed at environments where men and women would be viewing it together. Examples like American Idol, the Winter Olympics, the TV show Lost and most importantly, in cinemas during the weekend of Valentine’s Day. Soon, the campaign became increasingly widespread and popular, achieving millions of views and multiple parodies. The â€Å"Old Spice Guy† also made appearances on talk shows like Oprah and Ellen DeGeneres. The campaigns popularity, resulted in the â€Å"Response† campaign, an event which went on for two days, in which the â€Å"Old Spice Guy† recorded over 186 personal video messages to internet users who posted comments about the commercial on social media platforms, which was then uploaded online (Wieden Kennedy New York, 2010). Reception: *Both Sources from Golden Effie Award, (2011) As shown in the pie chart above, Old Spice managed to achieve its primary objective of the campaign by dominating online conversations about body wash with 76% of the majority share throughout the period of January and March, 2010. By April, â€Å"The Man Your Man Could Smell Like† video garnered more than 10 million views on YouTube, which was more than 10 times the amount of views accumulated for Dove’s Super Bowl commercial (Wieden Kennedy New York, 2010). The â€Å"Response† campaign reached 20 million views on YouTube in just three days, and Old Spice’s social media following increased substantially. After the â€Å"Response† campaign, followers increased about 2700% and 60% for Twitter and Facebook respectively. YouTube subscribers increased from 65,000 to 150, 000, as well as traffic to the Old Spice website increasing up to 300%. As shown in the graph above, sales of Red Zone Body Wash also increased up to 125% from the time of the campaign’s launch to July 2010. Old Spice soon became the number one All-Time Most Viewed branded channel on YouTube. (Wieden Kennedy New York, 2010). Own View Old Spice succeeded in reinvigorating its image by adding a youthful, masculine and alluring appeal to its personality and image. It also established a positive reputation for itself through the commercial’s use of humour by becoming, â€Å"the brand with hilarious commercials†. Audiences will now immediately assume that future Old Spice commercials will be entertaining and thus will pay attention to them. This has allowed Old Spice to break free of the crowd of other commercials and prompts audience to focus on the messages. Although subsequent commercials may not be as interesting or persuasive, audiences are still likely to be watchful for any Old Spice advertisements expecting entertainment. The commercial’s humour was sufficiently good and enough as well. Old Spice Guy’s exaggerated masculinity was the right amount of funny to stimulate the viewer’s sense of humour. The Response campaign was also brilliant in every way as it allowed for higher interactivity and a real intimate engagement and relationship with the target audience as well as providing quality entertainment value. Rhetorical Analysis This section aims to provide a rhetorical analysis of the first â€Å"Man Your Man Could Smell Like† commercial video (Old Spice, 2010). The campaign targets women, hence, Old Spice Guy initially addresses women in order to appeal to their desire of making their male counterparts more attractive, however, he indirectly targets insecure males who themselves want to BE more attractive to women, which is the product’s main target audience. The ethos (narrators’ character and credibility in gaining approval) of the Old Spice Guy is by exhibiting the good traits he possesses; muscular, good-looking and tall which reinforces the credibility of the product and suggests that anyone who uses it would be as desirable as he is. The commercial also displays diamonds materializing out of the Old Spice Guy’s hand in which suggests that the character is wealthy and the sequence with the â€Å"two tickets to that thing you love† coming out of the oyster suggest that he can get anything a women desires. This reinforces the perception that he is the exemplary man. Next, the character uses pathos (seeking to arouse emotion in order to obtain approval) to appeal to the viewer’s insecurity and their perceptions of the perfect man. Old Spice Guy stimulates the viewer’s sense of humour and his dramatic delivered dialogue allows him to seem charming and charismatic. Also the use of imagery, like the Old Spice product materializing from a handful of diamonds, uses pathos to influence the audience into associating Old Spice with opulence. The commercial’s lacks logos (logical reasons to support argument) as the commercial is immensely absurd and improbable. Its main logical argument is that using Old Spice would make you smell better and thus become more attractive and exciting. This can be associated with a logical fallacy called, â€Å"The Slippery Slope† in which is the belief that taking a certain action (in this case, using Old Spice), would result in a chain of events with no logical explanation (attractiveness, luxury, etc.). While it is reasonable to suggest that the product WILL make you smell better, it cannot be proven logically that it would lead to you becoming more interesting or becoming rich and obtaining lavish possessions like diamonds or a boat. This can be related to the Elaboration Likelihood Model (ELM) under the peripheral route to persuasion in which the audience is deemed lacking the ability or motivation to compute information and would not probably undertake any thorough cognitive processing. This is when the viewer depends on the peripheral cues in the message and makes a decision, rather than evaluating the information and making sense of the argument. Positive peripheral cues like the attractiveness of the â€Å"Old Spice Guy† and luxurious materials being associated with the Old Spice product can overshadow the overall logic of the message to the viewer (Belch and Belch, 2012). The commercials overall effectiveness was in being able to relay positive peripheral cues to the viewers as quickly and directly as possible before the viewer could comprehend the overall sense behind it. The exigency (urgent demand or need) of the commercial is created by people’s desire to be attractive (e.g. men would like to be attractive to women) thus, the commercial portrays the perception that Old Spice users automatically becomes so thanks to the positive visuals being portrayed in the commercial. The tone and speed in which the way the Old Spice Guy speaks (which is direct and rather in a hurry) out his argument further reinforces the sense of urgency. The argument’s effectiveness ultimately depends on the viewer’s subconscious overlooking the fallacies of the argument presented within the commercial as well as being stimulated to action by the commercial arousing emotions over confidence and attraction. Audience, Market, Socio-Cultural Context Old Spice’s target audience (13 to 34 year old males) are able to be influenced by the commercial as they are inclined to feel insecure about themselves when it comes to attracting the opposite sex, in which purchasing Old Spice would give them a confidence boost, even though it is clear that the connection between the product and its benefits are non-existent. This would still influence an individual’s decision-making without being cognitively aware. Old Spice’s target market put greater emphasis on the need for fragrances. Their psychographic of the target audience believes that good deodorant and smelling good is essential as it eliminates the need for a cologne, and good and proper grooming is an important aspect to overall attractiveness to the opposite sex. Maslow’s Hierarchy of Needs explains that the primary motivation for consumers to buy grooming products is a result of their need for â€Å"esteem†, in which the target audience is driven by concerns regarding developing masculine identities and to be perceived as attractive to the opposite sex, all in which would encourage the consumer to seek products that would allow them to achieve their desired image (Belch and Belch, 2012). Old Spice also managed to establish a strong sense of brand loyalty among its consumers through the â€Å"Response† campaign, by allowing them to get personally invested in the brand through social media interaction. A personal connection with Old Spice allowed its consumers to fulfill Maslow’s Hierarchy of Needs of Self-Actualization which is the need for self-fulfilment (Belch and Belch, 2012). Conclusion Old Spice’s managed to achieve its goal of re-branding itself from being considered a â€Å"grandfather† product to appealing to both men and women of the younger generation through the 2010 Old Spice Campaign. The overall significance of the â€Å"Response† campaign innovated advertising by introducing real-time brand building through establishing an interactive an intimate relationship with the target audience that modernized and humanized Old Spice as a brand, an endeavour that would certainly be considered as the most popular and rapid growing interactive campaigns of all time.

Peer Pressure and Drinking Essay -- Peer Pressure Essays

High school is normally the time when teenagers begin to dabble in the world of alcohol – to discover their limits and develop habits and this experimentation carries over into college. That is the norm and its not a bad thing, but of course there are a few exceptions. In high school I never went to a single party, was never invited to one, and barely ever even heard about them. It was something that none of my close friends were a part of and the thought of drinking never really crossed my mind. I was so busy with my school work, my job, and the cross country team that I didn’t have much spare time, and when I did I wanted to relax and hang out with my friends. My parents raised me in the faith of the Catholic Church and this background gave me a strong moral base. I always laugh and I have fun doing the simplest things so it was easy for me to find activities to be a part of besides drinking. It was only the summer after high school graduation that I began to fe el peer pressured to drink and the fact that I am always sober started to make me feel a bit isolated. When high school began, none of my close friends had ever drunk alcohol or had any interest in it, but as years went by, more and more of them began to try alcohol. Drinking is a personal choice and I had no problem with them experimenting, but by the end of my senior year some of my friends began to try and convince me to try it myself. Everyone knew that I am conservative when it comes to that sort of thing and people joked about me going crazy once I got to college and was no longer governed by my parent’s strict rules. Unbeknownst to them, this kind of talk repeated over and over, though I always denied it, began to make me feel curious. However I couldn... ...ound. So I always try to make everyone feel included, although I am still one of the more quiet people in the world. Lastly, my parents have taught me to work hard for the rewards that I gain. This has always been a major driving factor in my desire to do well with my schoolwork and in sports. I know that if I work hard enough I can do well and if I don’t get the results I want, it is no one’s fault except my own. With regards to drinking, I know that my parents would have been disappointed in me if I made the decision to start drinking in high school. When I take into account all the wonderful lessons they have taught me and all the love they have given me, it never made sense to make them unnecessarily upset. As clichà © as these things sound, I honestly know that these morals have helped guide me through my life and helped me make the best decisions I could.

Freedom Writers Reflective

Freedom Writers Reflection The movie â€Å"Freedom Writers† has many differences and similarities between various cultures. In Mrs. G’s classroom there are several mixed cultures and gangs in the class. Each of the cultures sit with what is their culture and gang. None of the cultures communicate with each other but only talk about one another and how much they hate each culture that is not their own. Each individual in the classroom has to deal with his or her own problems outside of school and home.For example Ava has to deal with a shooting that happened at a gas station with her father. She knows that her dad and his gang did it but the cops think that another black man in the gas station did it. She has to go on trial and tell her story of what she saw. In the end she tells on her father and she almost dies because what she did was disrespectful to her and her fathers gang. Even though the gangs and cultures don’t see eye to eye in the movie they all have th ings in common.They are all in gangs, each have their own stories to tell, each deal with the shooting of others and their friends, each want to communicate to others, and each want to be respected. Not a single person believes in these students except Mrs. G and Ms. Gies. When the students get to meet Ms. Gies they each get to listen to her story and each of theme realize that they can communicate and get along with other cultures no matter skin color, gang member, or even past history. Each student wants to share this with other students and other cultures and Ms.Gies can see this and she knows that the students will eventually tell their story and reach out to others. That these students are heroes willing to step out of the comfort zone and go beyond others. That is why they are heroes in her eyes. On the other hand there is the department of chair and honors teacher whom doesn’t believe in these students. They don’t understand the different culture and gangs. They only believe in their culture. They think that each culture is the same and that is that each student is dumb and will end up dropping out of high school or be dead.They don’t think that these students are worth anything. The main person that does believe in theses students are Ms. G. she takes the time to understand each and every student’s culture and personalities. She doesn’t think that her culture is any better than any other culture. She believes in these students and pushes them to do their very best. She knows that they are smart and can do better than what others think. She teaches the students about the holocaust because it is similar to their real lives that they are living now.Each culture wants to take over the other and become the best. It is genocide to them. She gives them a book to read that is not their level but just because she knows that they are interested in learning about this past history and how it relates to them they read it and unde rstand it. Ms. G is an amazing teacher because she helped to change the student’s lives around. She saw the spark that they each had and she pushed them to reach out and speak out to other students and other cultures.She never gave up on the students but only believed in them. She helped get all their academic grades up, and most of all got the different cultures to communicate. She helped them to set the example for the future. This movie relates to real life. In the work field you will be working with many people from many different cultures. You cant be biased of any person cultures or not communicate with different cultures. Get to know the other person culture you may be surprised how much you have in common with that person and their culture.

Benihana of Tokyo

Benihana of Tokyo Brief background of the company The company was a unique steakhouse during the year 1972 that was known by many people. The chefs from Japan were employed to cook food in a room where customers could see them. There were beautiful decorations resembling those from Japan, which attracted many customers. The restaurant started business with 40 seats and later the expansion had fifteen units located all over the country with nine of them under the ownership of the company.Advertising We will write a custom essay sample on Benihana of Tokyo specifically for you for only $16.05 $11/page Learn More Benihana of Tokyo Company commenced business in the year 1935 when Aoki started a chain in Japan. The name Benihana originated from a red flower that was planted near where the restaurant was located. The Aoki family had operated restaurants for a long period but competition begun in the year 1958 when it had the idea of hibachi table that the father used to ensure succ ess of the business (Sasser 1) The problems or issues the firm encounters The problems encountered were lack of employees to work in the restaurants as well as high wages and salaries. The solution to the problem was elimination of kitchens that were not necessary and attending the customers well for them to enjoy the services and come back again. The dinning area was increased to accommodate more people while the back of the house remained at 22% of the whole space. The methods of storing food were a problem because large amount of it was wasted after going bad within a short period. There was a proposal to change the food in the menu so that the one not selling fast could be reduced such as chicken and beef. This brought solution to problem of wasting food and the cost of food was reduced depending on the selling price of meat (Sasser 2) Analysis Strategically and Operationally The company ordered materials for building from Japan where cost was affordable. The units build could r ecover the costs incurred for building within the first six months after the operations were commenced. There was fast development that led to increased revenue used to establish other units such as Marina Towers. The unit in Chicago generated a lot of money compared to other units. The cost of advertisement to reach customers and inform them about the services offered by the company was affordable. The company preferred to own units rather than franchising in the year 1970 because the economy was unstable. The end of franchising led to problems because those people who bought them did not have experience on how to operate restaurants. The investors who came from United States of America had trouble because they required staff from Japan with whom they could not relate well.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The Benihana company success was at risk when the people wh o were aware of its operations wanted to begin a restaurant but failed to make profit within one year. There was difficulty in imitating the business leading to pressure from competitors who wanted to franchise. Rocky realized the space in the bar needed to be increased at Benihana east. The tables for serving customers had exhaust to remove bad smell, excess heat and steam. Enough dinners were available with chefs as well as waiters who served customers immediately they arrived. The meat was purchased in large quantity every time and the hours of operations depended on demand for the services. The location of the restaurants determined the time of opening and closing the business. Many customers during lunchtime were provided with menu to select the meal to be served (Sasser 3). Ethics and Sustainability Issues The number of people expected to use the services offered determined the site where the restaurants were located. Many people were available during lunch hour and dinner to enjoy meals of their choice. The units that offered accommodation were located in the business areas so that the customers could access them easily. There was training of staff in order to offer quality services to the customers and a course of Japanese English for six months. The managers of the restaurants trained staff so that they can meet the goals for continuous growth of the company. Advertisement was done to create awareness of the business to the customers and persuade them to utilize the services. Market research was done for the company to establish the potential customers in order to attract and retain them (Sasser 4) Action plans The plan for expansion includes five units to be opened every year such as Hotel in Canada with effective management. There is need to increase the number of staff to prevent shortage as well as training them to have experience in the duties assigned. The major cities will be considered for establishment of restaurants at an affordable cost (Sa sser 5). Conclusion The Benihana Company should expand business in the United States of America where small units with high profit margin are recommended. The existing markets need to be penetrated where there are many people so that the business can be successful. The units within the company should operate as separate entities where they account for the operations as well as profit in each unit (Sasser 6). Sasser, Earl. Benihana of Tokyo, Allston: Harvard Business School, 2004. PrintAdvertising We will write a custom essay sample on Benihana of Tokyo specifically for you for only $16.05 $11/page Learn More