Henry Ford And Fordism Influences Cultural Studies Essay

Henry Ford And Fordism Influences Cultural Studies Essay The executives procedures have experienced a wide range of stages and keep on developing even today. In the early piece of the twentieth century just as the high development times of the US economy after World War II, Fordism, was in the front line, as it concentrated on large scale manufacturing and mass utilization as a methods for extending the economy. Anyway as the US economy experienced moderate development years, this specific framework didn't work and other administration frameworks outweighed everything else. However there are numerous associations that keep on utilizing Henry Fords reasoning even in the 21st century. What's more, it is the target of this exploration record to consider the significance of the ideas presented by Henry Ford and the effect and impact it has on 21st century associations. Writing Reviews: When the change from the horticultural age to modern large scale manufacturing occurred, Henry Ford and his way of thinking that comprised of utilizing particular apparatuses, sequential construction systems and utilizing non-talented work in direct creation had the option to drive financial development and extension at extraordinary levels (Shiomi Wada, 1995). In like manner it was Fords reasoning that was the driving variable behind the vehicle business and this framework is as yet used by and large by the car business to date. The car business is as yet the universes biggest assembling industry and despite the fact that a considerable lot of the main vehicle producers have robotized their frameworks generally and diminished their reliance on work, they despite everything utilize the sequential construction system strategy with the ideas that were presented by Henry Ford (Shiomi Wada, 1995). It is not necessarily the case that the sequential construction system str ategy was the brainchild of Henry Ford but instead that the mechanical production system of today has been incredibly impacted by him and has not experienced many significant changes in the last seven or eight decades (Gowing, Morris, Adler Gold, 2008). The moving sequential construction system that we have known during that time and supposedly dates even in this period of cutting edge apply autonomy being utilized in the car business was presented by Henry Ford (Laurie, 2000). There are right now a couple of ways of thinking that have been thinking that its hard to choose if Fordism has directly affected the current monetary framework that isn't entirely founded on large scale manufacturing and utilization as it was after World War II but instead an increasingly smoothed out technique that is related with financial marvels, that is predominant in every modern nation all through the last piece of the twentieth century. While it may not be equivalent to the Fordism that was found in the car business during the period of Henry Ford, it is still to a great extent dependent on the framework that was defined by him. In his framework representatives chipped away at a creation line and the assignments that they performed were had practical experience in nature and above all it was monotonous. The cutting edge idea of Fordism focuses round the accompanying ideas rather than the ideas that were talked about above. These ideas are as per the following Creation is in little bunches instead of large scale manufacturing Economies of Scope are esteemed The employments and the items that are made are totally particular Data Technology is broadly utilized The accentuation is on the purchaser as opposed to the diverse social classes in a general public. Rather than the hands on laborer of the past we see a number in the ascent of the desk laborers because of this idea. The workforce incorporates females instead of be male commanded like before. (Kim, 2002) The above ideas have become an integral factor because of the immersion of the key markets, which neutralized the idea of mass utilization. Because of this new ideas the accentuation is on elevating the expectations for everyday comforts, which thus has changed the way where the market is seen from the makers end (creation/fabricating stance). As opposed to the buyers being viewed as a mass market that can be served by one nonexclusive kind of thing, makers started to consider the to be as people that made up a wide range of portions of market. Consequently it happened to the makers that the shoppers were better off in the event that they were assembled in to groups and items and administrations were given that fit the objectives and necessities of those particular fragments as opposed to the mass market (Ray Reed, 1994). In this way the mass market idea that was presented by Ford has now been limited to business sectors that are explicit to extravagance things, uniquely crafted items and positional merchandise. Creation, which was homogenous in nature toward the beginning of Fordism, is today increasingly engaged and thusly is assorted and can be separated. Further as expressed already the economies of size of the Ford time have now advanced into Economies of Scale because of the expansion and separation that is occurring in the commercial center (Raynor, 2004). The progressions that have realized the 21st century association, is to a great extent because of variables, for example, the changing worldwide financial and political scene and the progressions in noticeable philosophies. Because of the decays that were found in national creation (that was predominant in the post war America) for a more globalized creation arrangement of the late 80s and 90s, alongside the expansion of worldwide markets and global organizations, adaptable specialization has supplanted the mass markets of the post war period. Telling the laborers to act with a particular goal in mind has now been supplanted and the board gives more consideration to correspondence instead of requesting as was found in Fords time. Further the unified creation procedure of yester year is currently supplanted by re-appropriating, diversifying, sub-contracting, low maintenance laborers, transitory specialists, independently employed people and work-from home people. Other than the financ ial changes that occurred as expressed above there have been numerous political changes that have occurred that has constrained the advancement of Fordism (Thomas, 2004). The political changes are predominantly the change from the class based ideological groups (as found in the United Kingdom and the United States) to the ideological groups that depend on social developments, sexual orientation, race, religion and district. Worker's guild impact is today nearly non-existent North America and is presently supplanted by progressively confined substances that take part in plant based dealings. Further the ascent of an entrepreneurialistic culture has additionally lead to the advancement of Fordism. Indeed, even instruction today is less normalized as it used to be and turn out to be progressively specific with the work power seeing a decrease in the quantities of people settling on industrial occupations and rather joining the positions of the cubicle laborers (Lebowitz, 2004). Italy is an awesome case of how the ideas of Fordism have developed throughout the years. In zones, for example, Milan, Turin and Genoa, creation used to be centered around the idea of large scale manufacturing for mass utilization, anyway during the 1970s and later, the groups of little organizations and assembling plants began creating in zones, for example, Tuscany, Umbria and Veneto to give some examples. Every one of these districts concentrated and created an alternate arrangement of items that were all approximately identified with each other. Every one of the plants regularly utilized laborers that numbered somewhere in the range of five and fifty (a larger part of which were beneath ten). This is what is known as the economies of extension and a long ways from the economies of scale that we found in the underlying phases of Fordism (Williams, 1998). The component of these assembling units was that the item that were made were of high caliber and the laborers who were utilize d were exceptionally talented and generously compensated because of the significant level of abilities. There was profound joining and much association between the business people, the planners just as the specialists in every one of these plants and the plants themselves were configuration situated and multi-disciplinary in nature. Japan is another genuine case of the advancement of Fordism that occurred. After world war II and the decimation of the nation, the organization structure inside the nation changed radically, this made the worker's guilds be supplanted with the board inviting associations, expanded number of people who were not so much specific but rather more multi-talented. Further the organization had a pool of low maintenance/temp and untalented laborers for outskirts laborers (Perkins, 2005). Further because of the exchange embargoes that the nation was confronted with after World War II, the creation forms inside the nation could investigate the residential market and when the embargoes were at long last lifted and imported innovation and procedures came into the Japanese market, the creation business was prepared to assimilate the methods and better it through ways of thinking, for example, TQM (Total Quality Management) and so on. Because of the value fixing that was common in the market, rivalry in the local market must be won by separation. Further because of the interest for a wide scope of items the nation had the option to have a wide scope of offices that were adaptable and ready to changeover and produce a huge product offering. In this way as opposed to normalizing the nation had a colossal number of manufacturing plants and plants that were had some expertise in a wide assortment of items. Sub-contracting and gracefully organizes were first conceived in Japan, which changed the Fordist see that American organizations of the time were constantly following. Rather than having exorbitant creation hardware, the advanced Fordist ideas were progressively centered around multi-reason innovations that were moderate for little and medium scale makers who were flooding the market (Pettibone, 2006). Discoveries: Even however sequential construction systems are believed to be a relic of days gone by and Henry Fords ideas of the executives are believed to be out of date, the biggest assembling industry on the planet, which is the car business, despite everything utilizes the technique and the ideas despite the fact that it has experienced a couple of changes. Anyway the conc

Management Theories free essay sample

This exposition presents a few administration hypotheses and thoughts which can be found in the Vascellaro article. They incorporate Fayol’s four administrative capacities, a few thoughts regarding levels of the board, Mintzberg’s administrative jobs, and difficulties for the executives in the general and worldwide conditions, particularly accomplishing an upper hand. The article closes by considering the ramifications of Ms Decker’s plan for Yahoo! ’s staff. Administrative capacities, levels of the executives Ms Susan Decker, the leader of Yahoo! , will before long uncover another ‘operational diagram. ’ An outline is an arrangement or model, so by definition this is a piece of the arranging capacity. Since the change is a huge one †it includes the entire association †it isn't amazing that it includes the top degrees of the board. The arrangement includes bringing together the bookkeeping elements of the company’s web administrations. This identifies with the sorting out capacity in Yahoo! : we would hope to see progressively focal control of representatives who complete bookkeeping assignments if Ms Decker’s prepare. We will compose a custom paper test on The board Theories or on the other hand any comparable subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Since Ms Decker must ‘sell the arrangement to employees’ we can view her as completing the capacity of driving, since pioneers need to introduce a dream or thought to their association. The sorting out capacity shows up again with the notice of the ‘internal shake-up’: the revealing connections in Yahoo! are being changed ‘to reestablish confidence’. Apparently Ms Decker accepts that new staff as opposed to the current officials would make a superior showing of setting up her new arrangement. Too, a few ranking staff (three VPs and a few different administrators) are leaving, so this implies Yahoo should designate their work to others. The controlling capacity isn't referenced legitimately, however toward the finish of the article we are informed that ‘the venture community’ might want to be increasingly sure that Yahoo! has ‘devise[d] better approaches to reinforce its image against Google and to go after consumers’ progressively divided consideration online’. This would require turning out to be actually how to screen Yahoo! ’s execution against these objectives, however it isn't obvious from the article what these assessment systems would be. Mintzberg’s the board jobs Mintzberg would respect Ms Decker’s advancement of new web benefits as a component of the enterprising job, since it is a significant new task for Yahoo. Likewise, ‘selling the arrangement to staff’ identifies with Mintzberg’s ‘spokesperson’ job, and the ‘organisational shake-up’ identifies with the ‘resource allocator’ job, since staff must be doled out to explicit tasks. In the event that Ms Decker needs to manage negative impression of the venture network, she would do the ‘disturbance handler’ job. Difficulties for the executives in a worldwide domain Yahoo! is a worldwide organization: it works and contends in more than one nation. Anyway the article clarifies that Yahoo! has experienced issues accomplishing an upper hand against its significant rival, Google. To utilize the definition given in Waddell et al. (2007: 21-22), Yahoo! is so far not ready to ‘produce wanted merchandise or administrations more productively and effectively’ than that specific contender. Waddell et al. (p. 22) state that the four structure squares of upper hand are ‘superior proficiency; quality; speed, adaptability and advancement; and responsiveness to customers’. Hurray! ’s most recent procedure, concocting new web administrations which would speak to various locales around the world, gives off an impression of being focused on ‘responsiveness to customers’, and furthermore ‘innovation’, since the territorial center would separate Yahoo! ’s web administrations from Google’s. The organisation’s condition Waddell et al. 2007: 58) state that assets in the authoritative condition ‘include the crude materials and gifted individuals that an association requires to create products and services’. A few gifted officials have just left Yahoo! , and there are fears that more will leave, so Yahoo! is plainly experiencing issues keeping its talented HR. Ends and suggestions The article gives great bits of knowledge into Yahoo’s circumstance in its more extensive condition, the administration jobs being completed by its leader, and the four administration capacities at a general level. It doesn't talk about how Yahoo! ’s representatives feel about the changes. Anyway in light of the fact that some are leaving, almost certainly, probably a portion of the rest of the representatives might be worried about whether they will likewise lose their positions. Regardless of whether they remain, they might be stressed over accomplishing crafted by their previous associates. Some might be worried about the additional work and obligation, and others might be stressed over whether they have the fundamental preparing. This could give Google, Yahoo! s principle contender, a chance to enroll these miserable staff or the staff who have just left the organization. Hurray! ’s CEO ought to talk about with the leader of its human asset division how to deal with this troublesome circumstance.

Parents Guide to Helping Students with the College Admissions Essay TKG

Parent’s Guide to Helping Students with the College Admissions Essay By: Caroline KoppelmanThe college admissions process can be just as stressful for parents as it is for students. Parents feel that they need to manage their child’s time, stress, schedule, and expectations, which can lead to tension. The college process requires students and their parents to be as unified and cooperative as possible. We’ve created a step-by-step guide for parents to help their children with the college admission essay.  Step 1: Make sure they want your helpThis is the most obvious and most important step. If your child doesn’t want you to help them, don’t help them. If you insist on inserting yourself in the process, you can create resentment. This can create negative feelings towards the entire college process and cause them to procrastinate. Many teenagers just don’t want to their parents to help them. While you can be adamant about the assistance you can provide, at some point it's completely up to them.Step 2: Brainstorm a topic  If they request your he lp, get ready to take notes. You are going to go through the common app essay prompts one at a time. Dissect each one and come up with the best possible answers. Many times teenagers don’t know the answers to the questions, or they think their answers might be “wrong.” It is good to let the questions marinate a little to allow your child to reflect. If the student gets stuck on any question, offer a personal anecdote, or remind them of a story from their life that may be helpful. The goal is to help your child be creative and find unique ways to answer the questions.  Step 3: Choose a topic We find that it can be easy to get stuck on a few stories from step two. Now that you have gone through all of the questions, dive into all of the topics and flesh them out as much as possible with outlines and bullet points. You want to choose the topic that shows the most depth and creativity, or showcases a unique world-view or a genuinely interesting story. One topic should quickly emer ge as the best option.Step 4: Prepare to write the essayYou want your child to write from the heart, which can be exceptionally difficult. There is no right answer in the first draft. You should encourage the student to wipe away everything she knows and start from a place of honesty and vulnerability. Originality comes easiest to those who aren’t trying too hard. The most interesting ideas are the ones devoid of cliches, and often are things you’ve never put into words because they seem too weird or obvious.  Step 5: The first draftWith the topic in hand, the only concrete directions are to “tell your story thoroughly, with vulnerability, character and gusto. Add as many lessons and take home points as you can fit.” They can ignore length restrictions, SAT words, or “what the college wants to hear.” The first draft can be long, messy, and redundant. The more the student writes, the more you have to work with.  Step 6: Edit the essayYou should edit the essay for content and substance before word count. Word count is important, but can be fixed once the structure of the essay is in place. There are many different types of college essays, but generally the essay should consist of about 60% story, and 40% concluding remarks, revelations, lessons, and overall take home points. If you’re using the failure prompt, make your child think about what she learned from her experience and how she would change what she did to benefit herself in the future. The story should flow as a flawless narrative, interspersed with bits of wisdom. Once all of the content is there, it’s time to fine-tune the essay.  Step 7: Perfect the essayPerfecting the essay includes cutting it down to the correct length, refining your word choice, and crafting a clear and concise narrative. Have the student show the essay to honest people and good writers, like teachers or college counselors. They can critique both the ideas and the writing itself. Tell the student to not look at the essay for a few days so that they can revisit it with fresh eyes. As the student continues to redraft the essay, you will find that it will get better and better, up to a certain point. Once the student has reached that point, there’s nothing more to do.  Finally, keep in mind that at the end of the day, your child is the best judge of whether or not he or she has produced an inspired college admission essay. Your role is to guide and advise her throughout the process, helping her find her path to articulate her experience in the most insightful way. Sometimes, that may mean taking a step back and letting them figure it out for themselves.

The Importance of Ethics and Values in Business Organizations

Section A Question one: Explain the importance of ethics and values in business sustainability? Introduction: Ethics is concerned with what is good for individuals and the society according to (BBC ethics 2014). Ethics in general builds a person’s character which is portrayed by his/her behaviour. Business ethics can be defined as a way of which people and institutions should behave in the world of commerce. Most businesses are profit driven and by examining constraints or profit for self-interest when the actions of individuals or firms affect others most according to (Chris MacDonald 2014). Business ethics can also be defined as a culture which is practised within a business which enables a business to make decisions and actions which†¦show more content†¦2009). Ethical system of an organisation is a set of moral principles and values. Values are what each business stands for and they guide employees to behave in an appropriate manner with regards to the business and how it operates (Nieuwenhuizen and Oosthuizen T.F.J. (ed), 2014). For example The Mine Health and Safety Act 1996 is an Act which creates systems, procedures and structures whereby all aspects of safety are covered to protect the mine workers due to high injury disease rates due to the working conditions in mines which workers are exposed to everyday. The Act aims to provide good health and safety practices and it also aims to reduce accidents and to countermand the apartheid policies that were previously enforced amongst workers which guides businesses to follow the positive ethical business cycle (Gabriel Eweje 2005). Whistle blowing is when an employee reports on any illegal, immoral or illegitimate practices of another employee in the work place (Nieuwenhuizen and Oosthuizen T.F.J. (ed) Whistle blowing with internal reporting channel is less threating than whistle blowing of the external channel. External channel may lead to public scrutiny or legal intervention and it may put the organisation’s name in jeopardy. Whistle blowing are often not welcome because if report of the whistle blower is not taken seriously and left hanging the whistle blower mayShow MoreRelatedEthical And Ethical Aspects Of Business Ethics1350 Words   |  6 PagesMany authors in business industry have provided different definitions for business ethics. Moreover, definition varies for different people and different organizations. In general, Business ethics:-- -is a set of moral values or applied ethics that’s drives the operation of business. It’s more than operating a business under existing laws. There is always a question of morality and this morality of values comes from values held by the society. But ethics for each company may have high standard toRead MoreTable of content 1. 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Standards are set by every company to define what is accepted as ‘Right’ and each employee is expected to abide by these standards. For a business to run successfully it is important to abide by the set of standards that are defined. Companies around the world observe these ethical principles strictly;Read MoreImportance of Business Ethics988 Words   |  4 PagesTopics of Content Introduction............................................................................................................................1 Business Ethics.......................................................................................................................2 Disadvantages of Unethical Behavior....................................................................................2 Case Study.......................................................................Read MoreDefine Ethics and Social Responsibility and Explain Why They Share Common Characteristics in an Organisational Setting. 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But a good leader is someone who can implement a variety of policies while remaining true to the customer, or the citizen, and make profit for the business, or simply sound policies for a nation. The two articlesRead MoreA Brief Note On Ethics And Conduct And Behavior1089 Words   |  5 PagesEthics Research Report Student Name: Longfei Wang Student ID: 11529471 Executive Summary This report describe the two professional areas, they are Early Childhood and Public Relation (PR). In this two areas, this article illustrates the importance of three professional codes which are ethics, conduct and behavior. The report also reveal some ethical or unethical behaviors in the light of the two professional areas. Then the two professions will be compared in the codes of

Should Vending Machines Be Turned Off During The Day

Should Vending Machines be Turned off during the School Day? Many schools nowadays turn off their vending machines during the school day to prevent students from eating fattening foods. In California and Hawaii, state legislators are very close to passing a law that would ban any drinks excluding milk, water or juice from being sold in elementary schools, and reduce the hours older students can use the vending machines. Michelle Obama and the Obama Administration have asked Congress to improve childrens nutrition by getting rid of school vending machines that provide students with sugary snacks and drinks. The problem with this is school’s are making an extravagant amount of money off feeding their students with artificial flavoring and†¦show more content†¦If you don’t teach students responsibility for their own health and awareness, how are they supposed to grow up as proper adults? Our schooling system is very corrupt and wrong. Citation Page 1. Winter, Greg. States Try to Limit Sales of Junk Food In School Buildings. The New York Times. The New York Times, 09 Sept. 2001. Web. 03 Nov. 2013. 2. Huntington, Dale. Obama Wants School Vending Machine Changes. Msnbc.com. N.p., 2 Feb. 2010. Web. 03 Nov. 2013. 3. Gray, Brian. Iron County Today - Schools Should Voluntarily Do Right with Vending Machines. Iron County Today - Schools Should Voluntarily Do Right with Vending Machines. N.p., 20 May 2012. Web. 03 Nov. 2013. 4. Godelnik, Raz. New Standards for School Vending Machines Provide More Than Healthy Snacks. Triple Pundit RSS. N.p., 3 July 2013. Web. 03 Nov. 2013. 5. Fishbein, Rebecca. Obamas Kicking All The Junk Food Out Of School Vending Machines. Gothamist. N.p., 29 June 2013. 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The Case Of Shooting An Elephant By George Orwell

The Use of the Other to Define Oneself A large number of successful authors have one common trait in their writing: they create a powerful narrative or argument through the concept of an other, a person or group who opposes the authors view. To choose one side of a conflict is to give an indication of what the persons beliefs, motivation, and identity are. In the case of Shooting an Elephant by George Orwell, he establishes his beliefs with the actions of Burmans, which he portrays as the others. He states that, â€Å"It was a bit of fun to them†¦it made me vaguely uneasy. I had merely sent for the rifle to defend myself† (438). Orwells point is to make a sharp contrast between the narrator and the Burmans so that their values could be†¦show more content†¦For a person to be a stranger, it means that a person knows nothing about them to truly trust them. Using the word take also establishes how they were forced against their will to give their belongings. Chief S eattle is trying to make the point that the others are the type of people who do not care about their kind and have little morals. In fact, the use of putting the setting at night is also significant because it demonstrates how white people know that their actions are wrong but are still willing to follow them. By setting up the attributes of the people, he can promote that he does not have the same qualities. In addition, he also adds the idea of modesty in his identity through the description of the white man leaving at night to take the belongings of others. Nevertheless, booth followers and critics of the idea of the other in writing will probably argue that Chief Seattle could have gotten his point across by just talking about the damage that has occurred to the environment with no mention of a culprit. Yet, it would leave people with an unsatisfied conscious because people like to put the blame on one person or a group of people. If a person did not add another group or person that opposes the author, it would remove the authors credibility and give them an artificial identity. In another section of the letter to President Pierce, Chief Seattle startsShow MoreRelatedShooting An Elephant By George Orwell1246 Words   |  5 PagesSalma Kingu Professor: Michael English: 1301 Essay 2 Summer: 06/26/2017 â€Å"Shooting an Elephant† by George Orwell In the 1950, George Orwell was a police officer during the British Empire in lower Burma, India who was ill- educated and secretly hated his job due to the dirty works and evil of colonialism; George Orwell wrote the story about shooting an elephant. Shooting an Elephant is a story which describes how the British occupiers were badly treating the Burmese by killing and terrorizedRead MoreAnalysis Of George Orwells Shooting An Elephant1154 Words   |  5 Pagesauthority? Are we sheep’s who only do what we are told. Is that the same in Orwell’s case? 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Study Of Marketing And Online Marketing - Myassignmenthelp.Com

Question: Discuss about the Study Of Marketing And Online Marketing. Answer: Business Introduction Superannuation funds are various financial plans developed by government or private entities for accumulation of funds and with intention to provide income after retirement (Smith, 2012). These funds are not mandatory and are promoted by the government with tax benefits. This report presents a marketing strategy and comparison of two financial companies to be analysed as superannuation funds. The funds chosen are AMP Superannuation Savings Trust and AustralianSuper. AMP Superannuation Savings Trust is a resident regulated fund. This fund is registered with Australian Prudential Regulation Authority (APRA) and has more than 2 million participants. The fund was formed on 1 July, 1998 and is following the regulations of Income tax authorities (AMP, 2017). AMP capital is the investment manager of fund. AustralianSuper is one of the largest pension and superannuation fund of Australia. The fund has more than 2.2 million members. The fund is run to generate profit for members and because of its size the cost of fund is very low. AustralianSuper is also registered with APRA and has multiple investment managers. (AustralianSuper, 2017). Business Overview AMP Superannuation Savings Trust is a public offer retail fund. The contributions to fund are received through AMP Life and AMP Capital. The fund is qualified for transfers and rollovers. The fund has 8 MySuper products and 290 investment options. MySuperstratergy product has 29% of its total assets. The fund has assets of around $55 billion. This fund invests global bonds, global shares, listed real estate, Australian shares and derivatives (Superguide, 2017). On the other hand AustralianSuper is an industry and public offer fund. This fund has 13 Mysuper products and 13 investment options. In this fund MySuper stratergy has 67% of the total assets. This fund has invested all over the globe with investments of about $120 billion. The investments include financial instruments as well real assets. Shares, airports and shopping centres are part of its portfolio (Superguide, 2017). Comparison Between Both the Companies AMP Superannuation Savings Trust is pension fund, run and promoted by AMP. The shares of AMP are listed on Australian stock exchange. It is financial services enterprise dealing in various products. The company deals in employee and personal plans. The fund believes in developing variety of investment options for different risk profile clients. The company also provides insurance linked plans with whole life or endowment option. AustralianSuper is a superannuation fund with offices all over Australia. It has two divisions. First one is an industry and personal division. Other one is retirement income division. The company believes in sustainable long term investment returns and reducing costs because of large fund size. Apart from managing superannuation fund, the organization deals in financial advice and providing insurance to members. For sustainable growth of organization, it launched social aware investment option for its members. Client Profile Target Group AMP Superannuation Savings Trust is a public fund. It can be offered to general public. Australian Superannuation Savings Trust has 38% female participants and 59% male members. Most of the participants are present in age group 35-44 years. Largest number funds have been too contributed by this group. Superannuation funds benefit by targeting young generation. So target group should be individuals between ages of 25-40 years. On the other hand AustralianSuper is a member only fund. Benefit of member only funds are manifold. It is benefitted by low fees, decisions are not affected by vested interests and profits are for members. It has 39% female members and 59% male members. In this fund most of the subscribers are present in age group of 25-34 years (Superguide, 2017). This fund too should have its target group as young generation between ages of 25-40 years. However both the funds should target all sections of the society. Market Segment Characteristics Affecting Market Segment Market segmentation consists of segregating total customer base of a business in smaller groups based on certain criteria (Sun, 2009). Criteria can be based on demographic, geographic or behavioural factors. Markets can be segmented for these two funds in an identical manner because both have customers of all ages, regions and behaviour biases. Hence various segments and characteristics affecting them are: Demographic Segmentation: Demographic factors play an important role in deciding market segment of these funds. Market segment can be formed by age, income, gender and family size (Gbadamosi, 2013). For these funds, market segments can be high income, young with high income and old couples. These segments are affected by different products offered by the company. As every segment has their unique need. Young are interested in risky and long term investments. Geographic Segmentation: Geography affects an individuals lifestyle. People living in urban centres have better life style and longevity in life. So they are interested in products which have whole life annuities. On the other hand, rural population lives a very hard and risky life. For such individuals pension plans along with insurance and low premium are right products. Behavioural Segmentation: Behavioural biases of an individual affect the choices which are made in selecting and purchasing different products (Solomon Lowrey, 2017). Insurance and pension are generally delayed investments. In this segment price conscious and unaware investors want low premium products. This segment is affected by psychological and social biases of individuals. Cost-Benefit Analysis The process of evaluating benefits and costs associated with a business strategy to analyse the effectiveness of the plan. It consists estimating the costs associated with the proposed strategic proposal and simultaneously calculating all benefits generated by the plan. Both direct and indirect costs as well as benefits should be included in the analysis (Campbell Brown, 2015) After conducting a cost-benefit analysis of marketing strategy of both the superannuation funds, it is concluded the benefits overweight costs in both the cases. However, marketing strategy of AustralianSuper is successful over the other company. Total additional benefits over cost in case of AMP Superannuation Savings Trust are $291960, whereas $40700 in case of AustralianSuper. Marketing Strategy Marketing strategy is a set of guidelines and processes that an organization follows for promotion and improving reach of its products (Ferrel Hartline, 2013). Marketing strategies are devised taking into consideration various stakeholders of an enterprise. Marketing Strategy of AMP Superannuation Savings Trust Like most of the superannuation funds, the organization is also using partners and influencers for product promotion. Indirectly, strategy also focuses on development of world class award winning products for customer retention and attraction. Fund has its focus on umbrella approach with aims holistic approach to promotions. This process starts with customer research, product development, advice and selling at end. Social and digital media is also a source of marketing for AMP. It is recommended that company develops a strategy for engaging third party individuals and organizations for spreading awareness and selling its products. Educational campaigns through television, events and street shows should be its focus. Marketing Strategy of AustralianSuper According to Homewood (2016), marketing strategy of AustralianSuper is targeted through digital media and focusing on millennial. Millennial are very excited about the superannuation products and do a considerable analysis of different product options. The company also gets a lot of queries from them. Digital media will provide an effective platform for targeting all sections of the society. Apart from this company is also using other sources of marketing such as engaging with partners and influencers. The partners and influencers help in promoting products by creating awareness and changing attitudes. Apart from these, it is recommended that the company uses traditional methods of marketing. It should organize workshops and street campaigns. Promotion through television should be encouraged. Company may also engage advisers, banks and other agents for sales promotion. Sample Tools Advertising Marketing tools and advertisements help organization target audiences according to their needs and help in effectively evaluating a campaign to analyse return on investment (Adler, 2010). AMP Superannuation Savings Trust In 2016, the company launched goal based operating system, which comprised of goal centre and a explorer. The system has article, videos and modules for educational purpose and marketing. Modules have option to narrate as well. This is helpful of old as well those who are visually impaired (Burchill, 2017). Digital media tools such as online mailers and podcasts are also being used by the organization. Advertisements on social media are also common. YouTube, LinkedIn and Twitter online marketing tools are also being used by the company. It is recommended that company also uses promotional hard copy material for product promotion. These will be for helpful older and non-tech-savvy individuals. These can be sent along with policy statements after taking customer approvals. AustralianSuper Since, at present company has its focus of digital media and millennial. It should focus on next-generation tools and advertising. Digital media tools include online advertisements, marketing through mobile, web-analytics and emails. Digital media and analytics are effective in targeting customers by evaluating their needs. Partners and influencers are using social media websites and tools for product promotion. They are particularly active on Twitter and YouTube. Apart from the current tools and advertisement methods, it should also use promotional items such as educational videos, product brochures and merchandise to improve brand value. Banners and newspapers advertisements should also be encouraged. Traditional tools and advertisement measures result in a lasting impression. Monitoring Process and Review Monitoring and review process of marketing strategy involves analysis of impact of a plan, quantitatively measuring various data and carrying out appropriate changes to existing plan in case pre-defined results are not achieved (Saunders, 2015). AMP Superannuation Savings Trust Ultimate review of marketing strategy and advertisements comes in the form of tracking of revenues and profits. For digital media marketing efforts, the process involves tracking web traffic and measuring views on online promotional videos. Increase in followers on social media and positive discussion on social is sign of impactful marketing. Customer feedbacks through surveys and discussions are also helpful in tracking product response. As can be seen from cost-benefit analysis (Table 1), increased revenues from marketing efforts exceed costs; therefore marketing efforts have been successful. In case marketing efforts do not give desired result, the fund should think of modifying existing tools and strategies. AustralianSuper Marketing efforts of the company have been fruitful since the revenues have comfortably exceeded the costs (Table 2). The company can review its existing procedures by evaluating number of queries received by phone and email. If a television marketing campaign has been launched, then after campaign sales and response can be measured. Monitoring also involves analysing by demographics and region. It can be used to target a particular age group, income-level or regional group according to their needs. Conclusion This report presents a comparison of two superannuation funds of Australia. Funds covered in this report are AMP Superannuation Savings Trust and AustralianSuper. In the initial portion, a business introduction and comparison of both the superannuation funds is given. A view of target group and client base has also been presented. Also covered in this report are market segments of the funds and their characteristics. Cost-Benefit technique has been applied to analyse marketing strategies and efforts of both the funds. The report also discusses current and proposed marketing strategies both funds. Digital media, social media and traditional marketing strategies have been discussed. Marketing tools and advertisement efforts have also been analysed. A review and monitoring process of both the companies is also discussed along results of cost-benefit analysis. After evaluating the results of cost-benefit analysis and strategies of the funds it is concluded that AustralianSuper is better performing than AMP Superannuation Savings Trust. References Adler, M. (2010). A study of marketing and online marketing tools which improve online success. Munich, Germany: GRIN Verlag. AMP. (2017). Retrieved February 23, 2018, from https://www.amp.com.au/content/dam/amp/digitalhub/common/Documents/global/Trustee%20documents/SST_annual_report.pdf AustralianSuper. (2017). Retrieved February 23, 2018, from https://www.australiansuper.com/-/media/australian-super/files/about-us/annual-reports/2017-annual-report.pdf Ayadi, R. Mouley, S. (2013). Monetary Policies, Banking Systems, Regulatory Convergence, Efficiency and Growth in the Mediterranean. USA:Springer. Burchill, S. (2017). 6 Ways AMP is nailing financial content marketing. Retrieved February 23 2009, from https://www.thedubs.com/6-ways-amp-nailing-financial-content-marketing/ Campbell, H. F. Brown, R. P. C. (2015). Cost-benefit analysis: Financial and economic appraisal using spreadsheets. NewYork, USA : Routledge. Ferrel, O. C. Hartline, M. (2013). Marketing strategy, text and cases (6th ed.). Ohio, USA: Cengage Learning. Gbadamosi, A. (2013). Principles of marketing: A value-based approach. London, UK :Macmillan International Higher Education. Homewood, S. (2016). Marketing Dividends: AustralianSuper marketer on digital and millennials. Retrieved February 23 2009, from https://www.adnews.com.au/news/marketing-dividends-australiansuper-marketer-on-digital-and-millennials Jefkins, F. (2012). Modern marketing communications. Glasglow, London:Springer Science Business Media. Mcghee, F. (2013). Our great customer service in our Great United States: Whatever happened to good customer? Indiana, USA : Xlibris Corporation. Saunders, R. P. (2015). Implementation monitoring and process evaluation. California, USA: SAGE Publications. Smith, B. ( 2012). Self managed superannuation fund handbook: A practical guide to starting and managing your own fund. Melbourne, Australia:John Wiley Sons. Solomon, M. R. Lowrey, T. M. (2017) The routledge companion to consumer behaviour. New York, USA : Routledge. Sun, S. (2009). An analysis on the conditions and methods of market segmentation. International Journal of Business and Management. 4(2), 63-70 Superguide. (2017). AMP superannuation savings trust. Retrieved from https://www.superguide.com.au/super-funds-guide/amp-superannuation-savings-trust Superguide. (2017). AustralianSuper. Retrieved from https://www.superguide.com.au/super-funds-guide/australiansuper Zopounidis, C. (2012). New trends in banking management. New York, USA :Springer Science Business Media.