Critically evaluate the use of non-probability samples in management Essay

Critically evaluate the use of non-probability samples in management research. In what circumstances should non-probability samp - Essay Example A correctly premeditated probability sample, however, offers a reliable means of gathering information. This is in regards to a population without investigating every member or section (Hawkins, 2001). Frequently, researchers are employed under strict time restraints, which make conducting a survey cumbersome. For example, national polling companies frequently must deliver information on the nation's perceptions of recent events or matters. These polling firms have a habit of limiting their national sample magnitudes to roughly 1,500 respondents. When appropriately conducted, a probability model of this magnitude provides trustworthy information. This information is usually believed to have a very small border of error for the entire population. A probability sample inclines to be more problematic and costly to facilitate. Nevertheless, probability samples exist as the only sort of samples where the outcomes can be comprehended. This is usually from the sample to the inhabitants. Add itionally, probability samples permit the researcher to analyse the accuracy of the approximations acquired from the sample and to stipulate the sampling miscalculation. Nonprobability samples, on the other hand, do not tolerate the study's findings to be comprehensive, that is from the sample to the population. ... This type of sample procedure can be used effectively when the management has no access, or the list of departments under study are not stipulated. For example, in situations where there is no list of departments who prefer a certain issue over the other. In situations where the target population is hard to be identified or very specific (for example, executive directors hired by major companies), this type of sampling method is the most appropriate to be used. In the circumstances the sampling base is not necessary, non-probability sampling is the most widely used type of sampling. Moreover, this type of sampling is less expensive when compared to random ones, in addition, it allows the researchers gain the results quicker than random (Olsen, 2005). This is vital in the management industry because time is money. The less time used and the degree of accuracy obtained is what most businesses are usually after. As a result, this sample method is most utilized when the research topic is difficult. On the contrary, as more units are added into the sample arbitrarily, the probabilities of the researchers to access the sample is drastically reduced hence cannot be calculated. This might generate a distorted sample hence disadvantageous to the researcher. Moreover, because of the style of unit sampling from the sample, no guarantee exist to the notion that all the simple units of people have the chance to reach the sample. In general, the benefit of nonprobability sampling is the comfort in which it can be directed. Nonprobability samples have a habit of being less complex and less time consuming when compared to probability samples. As a result, if the researcher has no purpose of simplifying

Comparative criminal justice Essay Example | Topics and Well Written Essays - 500 words - 2

Comparative criminal justice - Essay Example The ranking was done on 179 countries from the least corrupt to the most corrupt. The corruption perception index was 9.4 for Demark, which the least corrupt, 2.9 for Bolivia, and 1.4 for Myanmar, which was ranked as the most corrupt among the countries, studied (Transparency International Web). This paper will focus on comparing the official crime rates of bribery, and drug offences per 100,000 in Denmark, Bolivia, and Myanmar. The paper will analyze the degree of cross-national differences and try to explain the differences in crime rates in the three countries. Bribery and drug offences are two crimes that are illegal in addition to involving a lot of corruption. The eighth United Nations Survey of Crime Trends and Operations of Criminal Justice Systems, which was done for the period between 2001 and 2002, showed that these crimes are still persistent (United Nations Web). In 2001, 37,553 crimes were committed in Bolivia, which is equivalent to 435.80 crimes per 100,000 inhabitants. Crimes were higher in Denmark where a grand 473,290 crimes were committed in 2001, which equates to 8,831.69 crimes per 100,000 inhabitants. In Myanmar, 19,873 crimes were reported which equates to 41.24 crimes per 100,000 inhabitants. In 2002, the total number of crimes declined in Myanmar and Bolivia but increased in Denmark. The total numbers of crimes were 18,301 in Myanmar, 31,138 in Bolivia and 491,026 in Denmark. In relation to bribery and drug offences, Bolivia had the highest number of crimes per 100,000 inhabitants in both 2001 and 2002. The records by the United Nations shows that out of every 100,000 inhabitants 0.22 and 0.28 bribery crimes were recorded in Bolivia in 2001 and 2002 respectively. In case of Denmark, there were 0.09 and 0.07 bribery crimes for the years 2001 and 2002 respectively. Though ranked as the most

Dan And Mike Essay Example | Topics and Well Written Essays - 750 words

Dan And Mike - Essay Example However, the return on investment (ROI), was low as compared to other funds thereby meriting a change in approach a view also subscribed to by the younger generation of analysts in EPI. Mike's entry into EPI challenged the existing 'status-quo'. The founder members of EPI were unprepared and therefore unwilling to accept Mike's style of functioning as the traditional values of the firm were being challenged. That these new methods practiced by Mike produced amazing results as also earned the loyalty of junior analysts further caused jealousy amongst the senior partners. Riding on Mike's success, other fund mangers and researchers also began to back Mike in various forums, further widening the rift between the 'old' and the 'new'. This dissension within the organization had the effect of adversely affecting the operations of other members. The senior partners felt that Mike was deliberately going against EPI's laid down policy to "provide safe and moderate income[and that it was]the philosophy we used to solicit the investment[and therefore]approach we are obligated to maintain"(p373-4). In such an organizational climate, Mike began o criticize those who would not t oe his line. This would even include the senior partners who felt that Mike was willfully challenging their authority and position in the company by being insubordinate. Thus the conflict was both at a personal as well as organizational level. Q. What are the approaches to manage the conflict A. Essentially, the conflict was between the conservative senior partner of EPI and Mike the maverick. Obviously there was a need for a mediator who would be acceptable to both parties. Accordingly, one of the senior partners approached Dan, a founder member of EPI, as also is CEO. As the CEO it was Dan who had recruited Mike, overriding the reservations voiced by the other partners while at the same tie offering Mike, "the freedom and flexibility to operated a segment of the fund as he [Mike] desired"(p 373). By requesting Dan o resolve the conflict, EPI showed a degree of maturity. However, by insisting that, "Mike must either conform to the philosophyof the organization or else resign' (p 373), the senior partners showed a forcing approach to conflict management of impinging their views on others, an approach that can also have a negative fall-out. Dan on the other hand, had a reputation as a 'great equalizer' who liked to work through consensus. Dan's management philosophy was based on, "loyalty - loyalty to the organization...to membersto friends"(p372). Dan approached the situation keeping in mind this very fact that the resolution of the conflict must be a 'win-win' situation for all the players. Not only should the concerns of the partners be met and the EPI itself continue to prosper, but his promise of autonomy to Mike should also be upheld. Accordingly, Dan tried to reason with Mike in an attempt to find a compromise solution. While accepting the need for change, Dan pointed out that everyone in the company had to be taken on board and that, "The rate of change is as important as the direction "(p

Reasons why illegal immigranst who are already living in this country Research Paper

Reasons why illegal immigranst who are already living in this country should be given citiznship - Research Paper Example Recently, debates on immigration have focused on the American South due to its border with Mexico where Latino immigrants get a passage into America. The political division has not helped to bridge the political opinions of opposition sides. In this assignment, I argue that despite the ongoing heated political debates, illegal immigration ought to be granted American citizenship. Historically, the American nation has been known to be a haven for immigrants to the extent that it is now a European descendant’s majority. Prior to the September 11, 2011 attacks on America by foreign nationals, there was little talk of racial profiling at airports. Entry to America became difficult for all immigrants with additional security checks instituted for fear of attacks, therefore, the ensuing debate on illegal immigration (Wise 26). Security is paramount for the stability of the American nation. Nevertheless, racial profiling is an infringement on the civil rights of human beings since it focuses on certain ethnic groups. The impact of European descended Americans in shaping America’s course cannot be disputed. However, the argument that America ought to be identified with regards to being â€Å"white† is flawed (Wise 32). America is a melting pot with people from diverse cultures, religion and ethnic backgrounds. The contribution of the multiplicity of people cannot be ignored. Granting of citizenship to illegal immigrants would be a humane act devoid of racial overtones. National security depends less on the number of illegal immigrants. This is because foreign nationals and terrorists do not have to be American residents to commit crimes. The rigorous security checks instituted mean that it is harder for foreign terrorists to gain citizenship. With proper checks in place, illegal immigrants are granted citizenship if there is reasonable belief that they pose

Is a college education worth the time and money Essay

Is a college education worth the time and money - Essay Example The experience gained from this type of learning addresses every dimension of the total individual. Firstly, a college education attends to the spiritual dimension of the individual for it is at this juncture that an individual comes face to face with his/her inner self. One is forced to brutally confront oneself and acknowledge one’s strengths, weaknesses and even failures as one has to learn to cope with meeting deadlines, completing a plethora of assignments and making presentations that may be harshly criticized. In addition, it is because of this great demand of external output that the student must turn to his/her inner being and decide whether to maintain the morale values which may have been embedded from early childhood or whether to abandon them and give in to self. This opportunity to interact with one’s inner self in a real way certainly compensates for any time or money that may have been spent to attain it. Secondly, college education positively affects one’s social being. The student has the opportunity to meet with others of his/her age and experience the type of fellowship that is borne out of sharing pains and joys, sufferings, successes and failures. The network that is formed here can only add value to the student’s life for it may be the means through which the student meets persons that may assist in future job hunting or promotions. What is more, students gain the required skills, knowledge and attitudes needed to obtain a good paying job which enhances the opportunity for them to receive promotion at their job. Mathews in his 2007 article on Multiplying Benefits of College for Everybody gave a fine example of the latitude which is granted by the college graduate. He states, â€Å"If a Hamilton College graduate with a degree in English literature decides she would prefer to become a fry cook or a midwife or a farmer, she can develop those skills relatively quickly as

FAN UP Market Analysis and Sales Projections Essay Example for Free

FAN UP Market Analysis and Sales Projections Essay FAN UP is positioned within the Smartphone Applications Industry. Mobile devices with remote internet capability, smart phones, have created an entirely new market of users that can be reached on the go. Due to the recent nature of Smartphone technology, we are witnessing rapid growth and innovation in the smart phone applications industry. FAN UP allows the event host the ability to seamlessly pair a sponsor with individuals coming to the event. By doing so, FAN UP will open the door to endless brand reach through Social Media via the user, additional in- ­Ã¢â‚¬ game/concert advertisement, fan appreciation, and a creative way for each event host to use their event to leverage underutilized sponsorships and promote their brand. Industry Analysis Mobile applications have changed a number of industry landscapes in recent history. This industry shows annual growth projections from 2009- ­Ã¢â‚¬ 2014 to be 49.8% and from 2013- ­Ã¢â‚¬ 2018 to be 28.9%. The evidence of this growth is a reason this app will be successful. Competition in the Smartphone Applications Industry is very strong. Because of this, it is important to analyze the different forces at work within the industry. This chart, information gathered from IBIS World, lays out the industry structure: Life Cycle Stage Growth Revenue Volatility Very high Capital Intensity Low Industry Assistance Low Concentration Level Low Regulation Level Medium Technology Change High Barriers to Entry Low Industry Globalization Low Competition Level High The first key external factor in this industry is the number of mobile internet connections. As the number of smart phone purchases increases with the number of mobile internet connections in 2014, app developers will have a larger market for their products. Secondly, as demand from e- ­Ã¢â‚¬ commerce increases in 2014, retailers have expanded their product lines, the platforms on which they operate, and retailers are expected to create more shopping apps to assist time- ­Ã¢â‚¬ strapped consumers. Next, time spent on leisure and sports represents one of the most key external factors. Time spent on leisure and sports is expected to decrease slowly in 2014, resulting in a potential threat for the industry. While the industry now serves a broad audience, leisure time is a major restrictive factor in a consumers ability to use and purchase smart phone app products. The US Census Bureau data re- ­Ã¢â‚¬ iterates more of the same industry trends. â€Å"In 2011, U.S. nonfarm businesses with employees spent a total of $289.9 billion on non- ­Ã¢â‚¬ capitalized and capitalized information and communication technology (ICT) equipment, including computer software. This represents an increase of 10.6% from 2010. Of the $65.2 billion spent on noncapitalized computer software, $29.9 billion was for purchases and payroll for developing software, an increase of 7.3% from 2010. $35.3 billion was for software licensing and service/maintenance agreements, an increase of $3.9 billion (12.6 percent) from 2010.† Although the growth of mobile apps is on the rise, revenue earned from these apps is expected to increase at a slower rate. Over the next five years, consumers are expected to continue wander away from pay- ­Ã¢â‚¬ to- ­Ã¢â‚¬ download apps, forcing developers to embrace the â€Å"freemium† business model that relies on monetizing free downloads after the fact via in- ­Ã¢â‚¬ app purchases. By 2019, free downloads are expected to account for about 95.5% of total mobile app store downloads. In the five years to 2019, revenue is expected to experience a 28.9% increase, reaching a total of a $34.7 billion smart phone application industry. Market Analysis The market analysis for FAN UP is atypical of most apps. FAN UP will start by focusing on the target market of Sports Franchises in the US and Concert and Event Promotion in the US. FAN UP will serve Gym, Health and Fitness Clubs in the US, Ski and Snowboard Resorts in the US, and Amusement Parks in the US in the secondary market. The sports franchise market in the US is comprised of sports teams or clubs that participate in live professional or semiprofessional sporting events (e.g. baseball, basketball, football, hockey, soccer and other team sports) before a paying audience. This market makes up the first half of the target market. Over the five years to 2013, revenue is expected to grow at an average annual rate of 1.4% to $23.6 billion, and includes a 1.5% increase in 2013 alone. The key external factors for the sports franchise market loosely hold true for the entire scope of the FAN UP market. The external factors include per capita disposable income is expected to increase by 0.8% during 2013, the number of households earning more than $100,000 is expected to increase slowly over 2013, external competition from other sports franchises is expected to increase during 2013 which represents a threat in the industry but not the market, and time spent on leisure and sports is expected to decrease slowly during 2013. Industry revenue is expected to expand 1.5% in 2013. Also, some franchises are opening new or remodeling existing stadiums to attract more consumers. Concert and Event Promotion in the US is the second half of the target market. This market creates, manages and promotes live performances and events, ranging from concerts and theater performances to state fairs and air shows. This industry has an annual growth projection of 2.6% from 2013- ­Ã¢â‚¬ 2018 with 49,825 operating businesses. Federal funding for Creative Arts is the key external factor that deviates from the sports franchises market. Many nonprofit establishments in this industry rely to some extent on federal funding, particularly grants from the National Endowment for the Arts, an independent agency that Congress established in 1965 to support the arts. Federal funding for creative arts is expected to increase slowly during 2013. This market has a history of good performance even when other industries struggle. Except for moderate wavering in 2010, the economic downturn ha s done little to deter Americans from attending live concerts and other entertainment events. Over the five years to 2013, industry revenue has grown at an estimated annualized rate of 1.3% to $23.7 billion, including a 3.5% anticipated increase in 2013. Revenue Model FAN UP will create revenue through brokerage fees, reach bonuses, and advertising. This recurring revenues model will be paid by the host of the event (i.e. Carolina Panthers, Live Nation, etc.) for each event in which FAN UP participates. The app will be free from the App Store because, as shown in the data, consumers are increasingly less likely to pay for an app. The brokerage fees are for the access to the app’s consumer base. The reach bonus is in place because with more reach, the more the host can charge the sponsor of the FAN UP sponsorship package. The FAN UP pricing will be dynamic in that negotiations must take place with each new partner in order to agree upon the percentage of the FAN UP sponsorship that FAN UP will receive. The price of the FAN UP sponsorship package will be a negotiation be tween the event host and the brand. Works Cited: 1. IBIS World 2. US Census Bureau 3. http://2012books.lardbucket.org/books/designing- ­Ã¢â‚¬ business- ­Ã¢â‚¬ information- ­Ã¢â‚¬  systems- ­Ã¢â‚¬ apps- ­Ã¢â‚¬ websites- ­Ã¢â‚¬ and- ­Ã¢â‚¬ more/s13- ­Ã¢â‚¬ industry- ­Ã¢â‚¬ analysis- ­Ã¢â‚¬ smartphone - ­Ã¢â‚¬ a.html 4. http://www.softwareengineerinsider.com/articles/smartphone- ­Ã¢â‚¬ app- ­Ã¢â‚¬  development.html#.UvBroChU6xK 5. http://digby.com/mobile- ­Ã¢â‚¬ statistics/

History Of The Blue Harbour Brand Marketing Essay

History Of The Blue Harbour Brand Marketing Essay In 1884 Michael Marks, a Russian born Polish refugee opened a stall at Leeds Kirkgate market. Since then, Marks and Spencer was born, opening over 300 stores worldwide and also being the UKs largest clothing retailer. In 1999, online shopping was introduced to their website for customers to enjoy in the comfort of their own home. The internet had just started to become known and more and more people were staring to use it, so Marks and Spencer took this opportunity and set this up at the correct time. In 2000, MS brought out their healthy Count on us range, for the healthier people on diets or who were just watching what they ate. Their 1st Simply food stores opened in Surbiton Twickenham in 2001, selling nothing but healthy food, no home furnishing or clothes like the normal stores. They also launched Per Una a brand of clothing specifically targeting the fashion-conscious women. Shortly after in January 2001, Blue Harbour was introduced, a casual wear brand for males. View form and DB07 another brand of clothing was introduced in 2002, View form for sportswear and DB07 for children designed in collaboration with David Beckham. Mission Statement Marks and Spencers mission statement is broken into 3 parts which include: Vision To be the standard against which others are measured Mission To make aspirational quality accessible to all and Values Quality value, service, innovation and trust. This mission statement has been kept up since the start of making it; MS have worked hard to achieve all these factors. Even though there have been ups and downs during the years they have tried hard and have kept to their word. There are many companies which look up to MS and measure themselves against them, helping their company to improve and gain more customers. Marks and Spencers have been known for their quality value, service, innovation and trust to all their customers who as a company they have stuck to very well. They are continuing to attract new customers as well as keeping their old ones, offering them new and improved products all the time. Objectives Every year MS had many objectives which were to be met, they were not really split into long term and short term but just objectives as a whole for each coming year. In 2001, they had many objectives but their main ones were attracting new customers, developing stronger relationships with their suppliers, aim for market leadership and also to restore the heart of MS, stop non-core and profit losing activities and also to keep an effective balance sheet calling these three sectors their fundamental strengths. In 2002, not only did they want to develop stronger relationships with suppliers but also to build on a unique relationship with their customers. They needed to keep rebuilding on their fundamental strengths, continue to regain market leadership with value, quality and also appeal. It was aimed for MS to open their 1st standalone home store in spring 2003, also to improve every aspect of their company, overcome the competition and continue to attract more customers to their stores. Before 2004, the MS fundamental strengths were changed, which included improving the management team, still ensuring the balance sheet was effective and also delivering impactful but low cost improvements. In 2005, MS only wanted to refocus on their core values in their business which is quality, value, service, innovation and trust. Pestel Analysis In this section a PESTEL analysis will take place and will look at the external factors that impact on Mark and Spencers performance. Political According to the Marks and Spencer website there are constraints on out of town shopping has been but in place by the government. This is causing problems for M and S. This is because it is highly expensive for retail stores to be in the centre of large towns and cities with all the business rates and M and S is not selling enough produce to break even with these extra expenses they have to pay for being in the centre. MS is trying to move some of there stores out of the centres but with constraints it is causing problems for them. The UK not having the Euro is working as a disadvantage to MS in relation to there western European store because MS products are too expensive as there are being sold at UK prices. Economical The UK economy and currency is relatively strong compared to other countries so the strength of the pound is working as a disadvantage to Marks and Spencers in the UK and abroad. (www.bitc.org.uk) Current world events have affected global economies, which may result in fluctuations within the industry. This may lead to unpredictable consumer and supplier behaviours. Sociological Market trends are constantly changing and Mark and Spencers have always struggled to keep up with them. For example, Life style changes have made people more aware of their health, which has resulted in higher demand of quality health care related products. People are concerned with value for money. Consumers are concerned with their image, for example; they must have the latest labels. The population in the UK is ageing and with this, more people have a higher disposable income. Technological Internet shopping has lead to international buying opportunities, which means the consumer has an enormous amount of options when it comes to shopping. This means that the competition has also increased, but Marks and Spencers can use it to their advantage to promote new products and help to show that Marks and Spencers is an up to date company. (www.marksandspencers.com) Environmental MS is restricted to where they can build its stores because of the restrictions on Brown field sites and Green field sites. MS can only build on Brown field sites witch restricts them to having to stay in urban areas with competition. Legal The government is constantly redefining trading laws, which enables Marks and Spencers to trade for longer hours, for example; longer shopping hours on a Thursday. Marks and Spencers must follow advertising laws which are put in place to protect the consumer, but also to promote fair competition between companies. SWOT Analysis The Swot analysis looks at a companys strengths, weakness, opportunities and threats which are likely to have an impact on the companys performance. Strengths Marks and Spencers has been running since 1884 and has a good traditional reputation especially with the older generation. Marks and Spencers is also one of the biggest retailers on the high street having stores in most cities and large towns and with thirty other stores across the globe. (www.marksandspencers.com) The brand name is known in nearly every house hold. Marks and Spencers has a diversity of products such as food, underwear, menswear children wear, women wear and furniture. Weaknesses Fashions are constantly changing and Marks and Spencers has an inability to keep up with changes in the retail market. There are also problems with focusing on the right targets markets in terms of products and customers. (www.bitc.org.uk) Many consumers still feel that Mark and Spencers products are old fashioned and out dated compared to competitors. Even though this is some thing that Marks and Spencers is constantly trying to change. Marks and Spencers is now experiencing poor performance across the globe which has resulted in the pull out of foreign operations. Opportunities Marks and Spencers has the opportunity to collaborate with other companies to widen up product range even more. They could also collaborate with designers to help bring new ideas, and help expand on their furniture and beauty products. Threats There is constant competition from competitors such as John Lewis, Debenhams and Next. And especially from younger clothing competitors such as New Look. Ever changing fashions trends which Marks and Spencers struggle to manage is threatening Marks and Spencers performance. Gap analysis and Ratios A gap analysis involves identifying a gap or weakness in a specific company and looking to bridge that gap in order to meet a target objective as to where the company wants to be. The following quote helps to further identify a gap analysis: Gap analysis, consists of defining the present state, the desired or target state and hence the gap between them. In the later stages of problem solving the aim is to look at ways to bridge the gap defined www. Ifm.eng.cam.ac.uk [January 23] An example from Marks and Spencer is there downfall in the womenswear market, which in 2004 fell 0.6% to a 10.4% share of the market. Competition in womenswear has increased dramatically with women demanding style, quality, outstanding value and real choice. In order for Marks and Spencer to reclaim this market share they set out a clear plan, this involved listening to customers better during store visits, focus groups, better use of market data and keeping a closer eye on tracking trends, tracking competitors and also evaluating there own performance. From a purchasing point of view they looked to strengthen there buying teams, giving clearer responsibilities for design, buying and merchandising. The companies buying strategy changed to buy less, more frequently meaning better ranges and fresher lines of stock. It was also vital that Marks and Spencer didnt miss out on key trends like the previously did in 2003 such as with cardigans. In order to further close that gap Marks and Spencer learnt that they have to cater for particular needs and markets. For instance it is estimated that 42 % of womenswear brought is by women under the height of 5ft 3 inches, Marks and Spencer didnt previously cater for these, often producing large, baggy clothing. Now Marks and Spencer have now produced a petite range in 33 of its stores in order to cater for this market. The three ratios that were decided in order to assess Marks and Spencers financial position were the current ratio, gearing ratio and return on capital employed ratio. Firstly the current ratio can be calculated by dividing current assets by current liabilities, this identifies how far a firm can meet its short term liabilities from its current assets without having to raise finance by borrowing, selling fixed assets or issuing more shares. A ratio less than one for a period of time is a cause for concern; Marks and Spencers did have a healthy current ratio until 2003 but in the last couple of years they have dipped below one causing concern, whereas for example a competitive company such as Next has stayed consistent for the last 3-4 years. Secondly the gearing ratio can be calculated by total borrowings x 100 % and then divided by the capital employed. The ratio shows the proportion of capital employed, which is financed by borrowed funds. The relationship between both, ought to be balanced with shareholders funds significantly larger than the long term liabilities in order to have a health gearing ratio. The higher the gearing ratio, the higher the risk to the company is, as high levels of borrowing represent a significant risk to the company. In 2004 Marks and Spencers was sky high, massively bigger than that of competitors Next. The last ratio analysed was the return on capital employed, this can be calculated by Operating profit x 100% and then divided by capital employed. The ratio is an important indicator of how efficiently the business is being managed. As a rule if a company has a low return on capital employed then it is using its resources inefficiently even if the profit margin is high. In the years 2004-2005 both Marks and Spencers and Nets ROCE have been high indicating a healthy return on capital employed. Five force analysis Porters five forces model (below) can be used to help make an analysis of the competitive environment for a company within a certain industry. In this case, it is Marks and Spencer in the food and clothing industry. Source: Adapted from Porter, M, (1998) Competitive strategy, New York, free press QuickMBA, Strategic Management (1999) states that: The strategic business manager seeking to develop an edge over rival firms can use this model to better understand the industry context in which the firm operates. The threat of new entrants There are a variety of major companies in the market such as Next, Debenhams, Sainsburys and Tesco with regards to selling clothing and food products. These are well known companies which are strong in the market so the threat of new entrants is low. A company such as Marks and Spencer (MS) has a strong brand name which therefore creates a barrier to entry for potential new entrants. Companies would probably experience high start up losses in an attempt to try to promote its products in terms of trying to prise loyal customers away from MS. There is the threat however of company take over where one company buys another one out. Examples include Morrisons taking over Safeway and Walmart taking Asda in bids to try and create better companies without having to build many stores around the country. The government is also keen on new businesses starting up in the market to try to discourage a monopoly situation Bargaining power of suppliers MS has over 2000 direct suppliers where 1500 are for clothing and 500 for its food. Marks and Spencers corporate site online (2005) states: 90% of other products are now sourced overseas. Overseas suppliers provide plenty of choice for MS and also cheaper labour. The market that MS is in also makes it easier for the company to bargain with their suppliers because there are many suppliers which provide clothing and food which are relatively undifferentiated so MS can go to another supplier if they feel there are better suppliers to go to as opposed to their current ones. Bargaining power of buyers There are many clothing and food companies to choose from in terms of the consumer so it is the consumers who can dictate the price by demanding quality products at good prices. Clothing and food are not specific items unlike a Ferrari sports car. Food and clothing are readily available to everyone and so therefore it is important for a company like MS to offer quality goods at right prices in order to compete in a very price orientated market. With a Ferrari sports car, it is a very prestigious item and therefore prices are not as important for Ferrari. MS therefore needs to add value to their products such as the Autograph range of clothing launched in 2000 which The threat of substitute products If a product from a different company is cheaper then consumers may switch to that product. If there are low switching costs e.g. substitute products are much cheaper than MS ones then there could be more consumers switching to the cheaper product. For example, a pair of jeans in MS is  £25 but in Primark the jeans are £6. There are many retail stores selling clothes which are competing with MS and therefore could act as substitute products. To counteract the threat of substitutes, MS must concentrate on ensuring absolute product quality and customer service to keep loyal customers. The intensity of rivalry amongst existing competitors There food and (especially) the clothing market has fierce competition and MS must compete with companies such as Next, Debenhams, Tesco and Sainsburys for selling both their food and clothing products. These companies are all trying to obtain the largest market share possible in the retail sector. Conclusion Overall, MS (Marks and Spencer) have established themselves over 120 years as a well known high street name. The mission statement that has been created by MS, highlights that the company aims to be the standard to which other companies look too in terms of retailing. The objectives highlight on continuously improving the company (objectives in 2005 focused on the core values of the business). The SWOT analysis shows that MS is a very well known company although is poor at keeping up with fashion changes and therefore must be wary of changes and regard them as a threat. The five force analysis shows intense competition within the industry with big companies such as Next and Debenhams selling clothes and Tesco and Asda selling clothes and food. MS must be wary of substitute products with stores such as Matalan and Primark offering these products and also MS must recognise that the customer has high buyer power as they have the choice of many retailers at different prices.