Amendment 2 “The Right to Bear Arms”

This report provides background information about the Second Amendment. Also it offers a viewpoint on the magnitude and nature of the problem â€Å"right to keep and bear arms† and discusses the two competing interpretations that predominates the Second Amendment. Furthermore this report identifies political, cultural, administrative, and law enforcement realities that pose enormous obstructions to formulating, passing, implementing, as well as enforcing more gun controls. IntroductionRegardless of being the subject of huge popular and political controversy, until relatively recently the Second Amendment was one of the most neglected areas of constitutional scholarship. The regulation of arms is not just a technical problem. It is an extremely charged ideological and emotional issue that carries an incredible amount of symbolic baggage. For American society, the debate over gun control is more like the debates over abortion and school prayer than like a debate over automobile safety.Millions of Americans, together with a noteworthy percentage of the intellectual elite, think that guns are bad in themselves and that owning them is at best misguided and at worst pathological. For millions of American gun owners, the right to keep and bear arms is associated to freedom and democracy; it is an article of faith similar to the belief that other Americans have in the centrality of freedom of speech and religion.That several Americans dismiss the right to bear arms as a myth that has no legal or constitutional reality is a challenge to the believers' worldview and offend to their very status in American society. It is just a short step to considering the proponents of gun prohibition as â€Å"enemies† to be resisted and condemned. Two competing interpretations of the Second Amendment predominate, the â€Å"collective† or â€Å"states' rights† interpretation and the â€Å"individual rights† interpretation.In the collective rights model , American citizens have no individual right to bear arms; such a right, it is argued, belongs merely to those in the state militias since the purpose of the Amendment was to reassure the states that through the maintenance of â€Å"well regulated† militias they would be capable to protect themselves from any danger posed by the new national government's standing army.On the contrary, advocates of the individual rights interpretation contend that the Second Amendment protects the rights of all individuals to keep and bear arms (subject to certain conditions), not just those in the state militias; that it is the â€Å"right of the people. † This, it is argued, is in reference to how the First, Fourth, Ninth, and Tenth Amendments are interpreted.While the terms â€Å"republican† and â€Å"liberal† have clear-cut meanings to historians, the use of these terms can be quite confusing to the uninitiated, since the â€Å"republican† school of Second Amend ment interpretation would doubtless find themselves at variance with many Republican politicians today, and the â€Å"liberal† school of Second Amendment analysis, with a few notable exceptions, would probably prefix the word â€Å"classical† before calling themselves liberals of any sort. (Clayton E. Cramer, 1994).The republican school asserts that the right to keep and bear arms was an outgrowth of republicanism, intended to protect the society from the related evils of a standing army and tyranny. While the arms might be broadly distributed, they would still be possessed by the population for the purpose of collective action against a foreign army, or a domestic tyrant. (Clayton E. Cramer, 1994). The liberal school asserts that the right was individual, a logical outgrowth of the right to self-defense. Such arms would be for the defense of the individual against private criminals; there was no need for a collective purpose or ownership.(Clayton E. Cramer, 1994). Whe n it comes to the question of identify the intellectual and historical antecedents of the Second Amendment, there is, again, broad agreement between the collective and individual rights theorists. Whether tracing its roots through the Florentine political tradition and Machiavelli or the radical English Whig tradition of James Harrington, John Trenchard, and Thomas Gordon, both sides accept that the Second Amendment has to be understood, at least in part, in terms of republicanism.Particularly, there is no argument that an armed citizenry was, as militia members contend, an essential component of eighteenth-century republican thought. The cause for this, in Gordon Wood's memorable phrase, is that republics were seen to be states of â€Å"fragile beauty† Which is to say, that due to man's continual craving for power it was believed that republics were in constant danger from both external enemies and internal corruption, and citizens' militias were regarded as very important i n resisting these dangers.(Gordon S. Wood, 1969) Certainly, the militia movement's engagement with republicanism assists to elucidate why it reacts to any attempt at gun control with horror. After all, it was a commonplace of eighteenth-century republicanism that merely tyrannical governments would attempt to disarm their people. Voicing such concerns-and linking them to the sacrifices made by America's Revolutionary generation-the U. S. Militia takes the view that even though â€Å"foreign governments may disarm their subjects, we will not go down that road.† â€Å"We will not disarm,† they declare. As militia members see it, the right to bear arms allows Americans â€Å"to back up our other Bill of Rights. † Lose this right, they compete, and, sooner or later, they will lose all their rights. Republican support of citizens' militias went beyond the often expressed concern that standing armies might turn out to be the pawns of corrupt governments, and issues of who eventually controlled the means of force in society, however. The ownership of arms was essential to the very idea of republican citizenship.Arms, it was argued, provided the means by which a citizen could both maintain his independence and-as with jury service-actively participate in his own governance. In classical and early modern republican thought, arms were the â€Å"ultimo ratio whereby the citizen pictures his life to the protection of the state and simultaneously makes sure that the choice to expose it cannot be taken without him. It was the possession of arms which made a man a full citizen, able to, and required to display, the multiple adaptability and self-development which is the crown of citizenship. Access to arms would not create a republican citizen in itself, though.The key to citizenship certainly the key to the successful functioning of republican society as a whole-was to be found in the concept of virtue. Wood describes virtue as the â€Å"willingness o f the individual to sacrifice his private interests for the good of the community† (Gordon S. Wood, 1969) that is, to serve the common good-and the ultimate sacrifice an individual could make, certainly, was to lay down his life in defense of the republic. This is mainly worth noting since it adds a republican dimension to the obvious readiness of militia members to sacrifice themselves in emulation of their Revolutionary forefathers.Considerably, militias were seen as institutions in which citizens could be trained in virtue-where virtue would not merely be inculcated and nurtured, however as well exercised in the act of resisting the republic's enemies. Modern militia members are well aware of these aspects of republicanism: that militias were intended to offer a means for citizens to vigorously participate in the republican polity and had a vital role in instilling virtue in those citizens. Pro– and anti–gun control proponents sharply disagree regarding whethe r the Second Amendment poses an impediment to gun controls.Gun control proponents argue that the Second Amendment has nothing to do with individual rights; it guarantees merely that states can maintain organized militia units. They point to an unbroken line of court decisions that reject Second Amendment challenges to federal, state, and local gun controls. Gun owners' rights supporters cite a large and impressive composition of mostly historical scholarship that reveals that the founding fathers and, subsequently, the authors and ratifiers of the Fourteenth Amendment, intended the Second Amendment to protect the individual American's right to be armed.There is much to be said on both sides of the constitutional debate. The great majority of state constitutions have clauses protecting the right of gun ownership. The merely states whose constitutions do not hold a right to bear arms are Iowa, California, Maryland, New Jersey, New York, and Minnesota. However, Iowa's, California's, an d New Jersey's constitutions openly protect the right to â€Å"self-defense. † Some state constitutions use the same language as the Second Amendment, however several openly protect the individual's right to keep and bear arms.Consider Vermont's constitution, enacted in 1777: â€Å"That the people have a right to bear arms for the defense of themselves and the State—and as standing armies in time of peace are dangerous to liberty, they ought not to be kept up; and that the military should be kept under strict subordination to and governed by the civil power. † http://www. law. ucla. edu/faculty/volokh/beararms/statecon/htm Pennsylvania's constitutional right to bear arms is measured to be the precursor to the Second Amendment.Enacted in 1790, at the time that the Bill of Rights was being ratified, it states: â€Å"The right of the citizens to bear arms in defence of themselves and the State shall not be questioned. † http://www. law. ucla. edu/faculty/vol okh/beararms/statecon/htm This language has always been interpreted by Pennsylvania courts to protect the right of all Pennsylvanians, not just militiamen, to possess firearms. Oklahoma's constitution, enacted in 1907, overtly protects the right to keep a gun at home, at the same time as subjecting the carrying of concealed weapons to regulation:â€Å"The right of a citizen to keep and bear arms in defense of his home, person, or property, or in aid of the civil power, when thereunto legally summoned, shall never be prohibited; but nothing herein contained shall prevent the Legislature from regulating the carrying of weapons. † http://www. law. ucla. edu/faculty/volokh/beararms/statecon/htm In recent years, numerous states have added gun ownership rights to their constitutions. For instance, Wisconsin amended its constitution so thatâ€Å"The people have the right to keep and bear arms for security, defense, hunting, recreation or any other lawful purpose. † http://www . law. ucla. edu/faculty/volokh/beararms/statecon/htm These state constitutional provisions would not protect gun owners from federal gun controls; however they protect gun owners against some state and local gun controls. The Second Amendment to the U. S. Constitution states: â€Å"A well regulated militia being necessary to the security of a free state, the right of the people to keep and bear arms shall not be abridged.† http://www. law. ucla. edu/faculty/volokh/beararms/statecon/htm In U. S. v. Cruikshank, a nineteenth-century case, the U. S. Supreme Court held that the Second Amendment was merely a protection against federal infringements of a right to bear arms. Although this decision predated the Supreme Court's 20th century decisions incorporating various Bill of Rights guarantees into the Fourteenth Amendment's due process clause, with the outcome of guaranteeing those rights against violation by state and local governments, plus by the federal government.It is not a t all apparent that mid-nineteenth-century judges were unaware to any right to keep and bear arms. Consider this passage from the Supreme Court's infamous decision in Dred Scott v. Sandford (1856), in which the Supreme Court held that slaves and their descendants could claim no rights of citizenship. What is interesting from our viewpoint is the Court's understanding of what are the rights of citizenship. The Supreme Court pointed out that the framers could not have intended that slaves or their descendants ever be citizens because thatâ€Å"would give to persons of the Negro race, who were recognized as citizens in any one State of the Union, the right to enter every other State whenever they pleased, singly or in companies, without pass or passport, and without obstruction, to sojourn there as long as they pleased, to go where they pleased at every hour of the day or night without molestation, unless they committed some violation of law for which a white man would be punished; an d it would give them the full liberty of speech in public and in private upon all subjects upon which its own citizens might speak; to hold public meetings upon political affairs, and to keep and carry arms wherever they went. And all this would be done in the face of the subject race of the same color, both free and slaves, and inevitably producing discontent and insubordination among them, and endangering the peace and safety of the State†. (Dred Scott v. Sandford, 60 U. S.393 (1856)) Yale Law School professor Akhil Amar argues that the right of individuals to be armed was very much the intention of the drafters and ratifiers of the Fourteenth Amendment. After the Civil War, the southern states quickly passed â€Å"black codes† that clearly denied the newly freed slaves the right to keep and bear arms. The debates in Congress in the 1860s over the Civil Rights Act and the Fourteenth Amendment were laced with comments regarding the need to assure that the freed slaves not be kept disarmed and thus submissive, and that they be capable to enjoy the same right to keep and bear arms as white citizens. (Akhil Amar, 1998).The Supreme Court has rendered merely one Second Amendment decision in the twentieth century. In U. S. v. Miller (1939), the Court held that, in making it a crime to own an unregistered sawed-off shotgun, the NFA did not violate the Second Amendment. Gun rights advocates say that the precedential value of the case is just that people are not guaranteed access to gangster weapons, like sawed-off shotguns, and that by negative inference they do have a right to arm themselves with traditional personal firearms. Gun controllers argue that the Second Amendment does not guarantee anybody anything and that Miller means that there is no personal right to possess firearms in the U. S. Constitution.Focusing on the amendment's first clause, they argue that the amendment means only that Congress could not abolish the state militia, now the Nation al Guard. Gun rights advocates believe that the Second Amendment guarantees every law-abiding American adult a right to keep and bear personal firearms. â€Å"Implicit in the Bill of Rights, as in the entire structure of the Constitution, are the twin hallmarks of traditional liberal thought: trust in the people; and distrust in government. † (David Hardy, 1979). Some proponents of this interpretation stress that the right to keep and bear arms was intended to guarantee protection against government tyranny.Liberal constitutional law theorist, William Van Alstyne, finds an individual rights view of the Second Amendment in a textual reading of the amendment. He argues that the amendment â€Å"Speaks to sources of security within a free state, within which†¦ ‘the right of the people to keep and bear arms shall not be infringed. ’† He explains that this language guarantees the individual's right to have arms for self-defense and self-preservation. (Willi am Van Alstyne, 1994). Harvard Law School Professor Lawrence Tribe, a person closely associated with liberal politics and the Democratic Party, as well concludes that â€Å"It is impossible to deny that some right to bear arms is among the rights of American citizens. † (Lawrence H. Tribe, 2000).Conceivably the Supreme Court will take a chance to interpret the Second Amendment in a recent Texas case. The U. S. District Court for the Northern District of Texas stated unconstitutional the federal law (18 U. S. C. sec. 922 [g][8]) which makes it a crime to own a firearm while under a restraining order for domestic violence as applied in a situation where the state divorce court, which issued the restraining order, had made no exclusive findings that the defendant posed a threat to his estranged wife. The district court held that the Second Amendment guarantees a personal right to keep and bear arms (U. S. v. Emerson, 46 F. Supp. 2d 598 [1999]). Two years later, the 5th Circuit C ourt of Appeals (Nov. 2001) affirmed, holding thatâ€Å"we find that the history of the Second Amendment reinforces the plain meaning of the text, namely that it protects individual Americans in their right to keep and bear arms whether or not they are members of a select militia or performing active military service or training. † Even though the U. S. Supreme Court eventually affirmed that the Second Amendment does not guarantee an individual right to keep and bear arms, which may never happen, the contrary belief is strongly rooted in U. S. and English history, in the constitutions of most U. S. states, as well as in a mountain of pro-gun scholarship. Many gun owners think that possession of firearms is a right of American citizenship and would not be persuaded otherwise, even by a U. S. Supreme Court decision to the contrary, just as death penalty opponents suppose that the Supreme Court was wrongheaded in declaring executions to be constitutionally permissible.Jeffrey Sn yder made the point aggressively in his 1993 Public Interest article, â€Å"A Nation of Cowards†: â€Å"The repeal of the Second Amendment would no more render the outlawing of firearms legitimate than the repeal of the due process clause of the Fifth Amendment would authorize the government to imprison and kill people at will. A government that abrogates any of the Bills Of Rights, with or without majoritarian approval, forever votes illegitimately, becomes tyrannical, and loses the moral right to govern†. References: Akhil Amar (1998). The Bill of Rights: Creation and Reconstruction (New Haven: Yale University Press). Clayton E. Cramer (1994).For the Defense of Themselves and the State: The Original Intent and Judicial Interpretation of the Right to Keep and Bear Arms; Praeger Publishers, 1994 David Hardy (1979). â€Å"The Second Amendment as a Restraint on State and Federal Firearms Restrictions,† in Restricting Handguns, ed. Don Kates (Great Barrington, Mass . : North River) Gordon S. Wood (1969). The Creation of the American Republic; Chapel Hill: University of North Carolina Press http://www. law. ucla. edu/faculty/volokh/beararms/statecon/htm Jeffrey Snyder (1993). Nation of Cowards; Public Interest article Lawrence H. Tribe (2000). American Constitutional Law, 3rd ed. (New York: Foundation) William Van Alstyne (1994). â€Å"The Second Amendment and the Personal Right to Arms,† Duke Law Journal 43

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BarChris Construction - Case Study Example The misappropriated entries included current assets having a 15% overstatement of $609,689; 42% understatement in contingent liabilities amounting to $618,853; gross profit overstatement of $230,755; $519,810 worth of sales’ overstatement; undisclosed loans to officers totaling to $386,615; and an overstatement in backlog of orders among other figures. Auditing involves the application of accounting principles as they relate to costs and revenues. Following the sale and leaseback cases, the judge’s argument that the gain on the debentures was improper is misleading since this approach is accepted in GAAP. Although the customers who acquired the leaseback properties incurred overwhelming arrears on their discounted notes, it is not considered a reasonable standard for auditors to concern themselves with the effects of business strategies of the companies they audit. Hence, as earlier stated, the auditors’ responsibility is to access, point, question, and report on accounting activities and not on investment or business strategies associated with the gains (United States District Court, 1968). The case of Berardi places himself at the center of blame for the problems associated with BarChart’s accounting misappropriations. The merits of blaming Berardi for the problems facing BarChris include his inability to dedicate more time to review the results of the S-1 review, the hiring of an inexperienced accountant, and concealing of information such as loans to officers. In order to rectify these causes of the primary problems, Berardi could have hired a qualified accountant, should have dedicated more time to review accounts, and conducted regular internal audits (United States District Court, 1968). United States District Court. (1968). Escott v. Barchris Construction Corporation 283 F. Supp. 643 (S.D.N.Y. 1968). Accessed online on February

Abercrombie and Fitch report Essay Example for Free

Abercrombie and Fitch report Essay Abercrombie Fitch was established in 1892, and originally was a retailer of outdoor and sporting goods. In 1976, it went bankrupted and was acquired by Limited Brands in 1988. Michael Jeffries was nominated to become CEO in 1992, and he dramatically improved the status of AF to be a global fashion retailer. Now the symbol of American style and beloved brand by many customers worldwide, Abercrombie and Fitch produces mainly apparel, fragrance and lifestyle goods targeting at consumers aged from 18 to 25. There are 4 sub-brands in AF which are Abercrombie and Fitch, Abercrombie Kids, Hollister and Gilly Hicks. Each sub-brand has its own characteristics and its positioning in the fashion market is slightly different. Abercrombie Fitch is rooted in East Coast traditions and Ivy League heritage, it is the essence of privilege and casual luxury (Abercrombie and Fitch Co. 2012, P. 3). Abercrombie Kids is for the kids who want to be like their older brothers or sisters and the core concept of it is casual and preppy looks. Hollister’s heritage stems from Southern California and was designed to represent cool beach style. Gilly Hicks is the newest and smallest brand in AF made only for the girls’ clothes or underwear. With the opening of a flagship store in Canada in 2005, AF started to enter the global market. Now it has 139 stores outside of the US, and it recently opened stores in Seoul, South Korea and in Shanghai, China to expand into the Asian market. We chose Abercrombie and Fitch since we would like to see how successful this multinational apparel company can be by insisting its All-American style in different cultures. We wanted to explore its unique retail strategy and brand positioning as this brand is sought after a lot of young adult. Several controversial issues of AF were the deciding factor in our choice of company. Work Oriented Culture Of all the methods which exist for explaining cultural differences, â€Å"the dimensional approach is more influential† (Peng Meyer, 2011). Geert  Hostede, a Dutch professor, established the overarching theory consisting of five cultural dimensions. The first is power distance which outlines the expectation and acceptance of the unequal distribution of power by the less powerful members of a country (Peng Meyer, 2011). Individualism vs. collectivism is the cultural dimension characterized by whether the  citizens view themselves as distinctly different or dependent upon group involvement. The third cultural dimension is masculinity vs. femininity which refers to the values, traditional male or female, which are held in the highest regard. Determining the extent to which an individual will embrace uncertain circumstances is the uncertainty avoidance dimension. Finally, long-term orientation deals with the emphasis the citizens place upon â€Å"perseverance and savings fo r future betterment† (Peng Meyer, 2011). The US is the home country of Abercrombie and Fitch. Power Distance Individuality Masculinity/Femininity Uncertainty Avoidance Long-term Orientation Scoring a 40 caused the US to be in the lower half of the countries for power distance. Hierarchy is â€Å"established for convenience† (Geert-hofstede.com, 2014) as superiors are easily accessible and communicate informally. Information is free flowing as managers take input form their subordinates. The US received the highest individuality score of 91. Citizens are considered â€Å"the best joiners in the world† (Geert-hofstede.com, 2014). It is not extreme for Americans to work with people with whom they are not familiar as deep friendships are not commonly formed. What an individual is capable of doing or has already done will determine their value of being  hired or promoted. Ranking 15th on the masculinity scale with a score of 62 indicates a masculine nation. US firms create a culture of â€Å"live to work† (Geert-hofstede.com, 2014) where higher status and financial rewards are key driving factors. Leaders which are forceful and decisive are highly valu ed. Employees who are less visible and indecisive are not able to attain success With a score of 46, the US is shown to have a below average uncertainty avoidance. Innovation is extremely valued as new ideas are quickly accepted. As compared to firms in higher uncertainty avoidance countries, US firms will quickly go after new, emerging, and risky opportunities. The US is seventh from the bottom of the list for long-term orientation with a score of 29. While future planning is involved in US firms’ decision making process, quarterly reports are incredibly significant and limit the time firms can look ahead. Employees’ savings rates in countries such as the US are much lower than those in long-term oriented nations. Home Region Oriented Firm Rugman and Verbeke in 2004 established a triad of economic power consisting of Asia, the EU, and North America. Analysis of 380 firms determined how many were home-region oriented, bi-regional, host-region oriented, or global (Rugman Verbeke, 2004). A home-region oriented firm has â€Å"at least 50% of their sales in their home region of the triad† (Rugman Verbeke, 2004). To be a bi-regional company, at least 20% of all sales must take place in two regions, but the company cannot have more than 50% in the region where the company is based. If a firm has more than 50% of its sales in a region different than its home region then the firm is considered host region oriented. In order to be global, a firm must have â€Å"at least 20% of their sales in all three regions of the triad, but less than 50% in any one region† (Rugman Verbeke, 2004). AF is considered a home region oriented company based upon the released date from 2013. Of the $4,116.9 million in sales, 64.59% or $2,659.09 million is generated in the home region, North America. $1,116.78 million or 27.13% of all their sales take place in the EU region. Asia is far behind as the remaining 8.28% of sales, 341.03 thousand dollars, is dispersed across the  rest of the world. No calculations were needed as the sales figures and percentages were given. (Csimarket.com, 2014). The industry for which AF operates can explain their sales distribution. As the company is in the fashion and retail industry, its’ sales are incredibly dependent upon the affinity of the customers for specific brands and styles. Since the company is based in North America, the firm is much more familiar with the prevalent style which would need to be present to increase sales. AF also established itself in their home country before expanding. These factors could explain the firm’s international orientation. Ownership Advantages First, one downstream ownership advantage of AF is the possession of a specific brand image which is not easily imitable. The firm operates under different brands Abercrombie Fitch, Abercrombie Kids, Hollister, and Gill Hicks for slightly different targets. Each sub-brand represents a different brand image but they eventually add up to one big image, â€Å"American Cool†. To the fashion retailers, the most important ownership advantage is their own irreplaceable brand image. In this context, AF has its distinct position in the fashion market and is using their brand image successfully to attract the customers (Abercrombie Fitch Co. 2012, P. 3). Second, the other ownership advantage of AF is its’ in-store experience. AF stimulates the customers’ senses of sight, sound, smell, and touch by utilizing handsome male models, music, fragrances, rich fabrics and interior design. Customers (mainly females) can get a chance to take a photo with the models, and this became a representative in-store experience of AF. In addition to this, AF uses certain perfume to attract customers and to make them remember AF for a longer time than just seeing, which is called â€Å"scent marketing†. Also, the stores always play the video of the American beach to emphasize its â€Å"cool† brand image. AF only sets up the flagship stores and controls them through the managers who are trained in the US and sent to the international flagship stores to monitor the whole operation. This system makes it possible to transfer this in-store experience to the newly established flagship stores very well. Therefore, all AF stores, even those  overseas, are committing the standardized in-store experience by offering customers the same experience (Abercrombie and Fitch Co. 2012, p. 4). Uppsala Model Network Internationalization Model Differences â€Å"The Uppsala model views that market knowledge is gained only by operating directly in a market; thus the model focuses on experimental knowledge† (Childs Jin 2013, p. 38). According to the Uppsala model, will increase their market commitment gradually based upon their experience in the market and based on the knowledge they gain in the market. On the other hand, according to the Network internationalization model, firms can start their internationalization before they enter the market by settling network relationship in advance. Therefore, firms do not have to follow the stages of the Uppsala model but â€Å"building a number of such relationships constitutes a large and important investment, and once established, and organiza tional or ownership advantage† (Vahlne Johanson 2013, p. 195). Uppsala Model Network Internationalization Model Similarities Both models consider the network as important knowledge that firms should gain. The network facilitates information and experience by building up the trust in a relationship and also by learning from other market players. Within the Uppsala model, the core concept of the gradual extension of a company’s internationalization into a market, which gains the company valuable experience, should be based on the interplay with customers, suppliers, and other competitors. As the company’s network broadens, it can get more knowledge and at the same time its degree of internationalization will become higher. In this context, we can find similarity between the two models. International Trajectory In 2005, AF first opened its’ flagship store in Canada. Starting from this, AF entered the European market with opening flagship stores in major cities of the European countries, such as London, Milan, Paris, and Amsterdam. On December 15, 2009, AF opened its first Asian flagship store in Tokyo as a starting point to enter the Asian market. Currently, AF owns 19 flagship stores in Canada, 110 in Europe, and 11 in Asia. Among those stores, 39 are sales subsidiaries. In Canada, the Netherlands, and Hong Kong, AF has wholly-owned subsidiaries because there are DCs in those countries, meaning that they are the most important countries in each continent (Abercrombie   Fitch Co. 2012, PP. 19, 101102). Firms who have a strong brand image and possess asset specificity (a unique product or a unique way of doing business) are more likely to internationalize quickly (Childs Jin, 2013). AF is a good example of this case, so it could skip the lower stages of the Uppsala model, such as s poradic exports or exports through sales agents, and could set up the subsidiaries directly overseas, which only takes 7-9  years. Consequently, now we can assume that the company is already in a quite higher stage of the Uppsala-based stages model with its sales subsidiaries and wholly-owned subsidiaries. Degree and Nature of International Sourcing Abercrombie and Fitch does not own factories producing the products and it has not sourced more than 10% of its merchandise from any single member of its approximately 155 vendors in 20 countries, including the United States, China, Vietnam and Guatemala (Abercrombie Fitch Co. 2012, p. 4). In particular, more than 90% of its suppliers are in Asia (Google.com, 2011). The company has established supplier product quality standards to ensure the high quality of fabrics and other materials used in the company’s products (Abercrombie Fitch Co. 2012, p. 5). Abercrombie and Fitch has two distribution centers (â€Å"DCs†) in New Albany, Ohio. The two DCs were initially responsible for the distribution of merchandise to the stores and direct-toconsumer customers, both regionally and internationally. Since 2009, AF has offshored its DCs by using a third-party DC (TNT Fashion) in Roosendaal, the Netherlands for the distribution of merchandise to stores and direct-to-consumer cust omers located in Europe and a third-party DC in Hong Kong since 2011 for the distribution of merchandise to stores located in Asia. Its two DCs in New Albany, Ohio currently only support its North American stores, and direct-to-consumer customers outside of Europe (Abercrombie Fitch Co. 2012, p. 5). The nature of offshoring the DCs is to broaden the direct-toconsumer business worldwide and facilitate the international expansion of Abercrombie and Fitch stores in Europe and Asia. Furthermore, Abercrombie and Fitch has a strong, cooperative and long-term relationship with its vendor factories. When the CEO Mike Jeffries was asked about the cost pressures from raw materials and labor costs, he emphasized  that a strong relationship with vendors has been key since they had assisted AF and been fair in terms of cotton prices and other increases. He also added that AF and vendors have been there for each other for the long term (Barrie, 2010). Strategic Advantages and Drawbacks of International Sourcing and Offshoring The first advantage of international sourcing is that AF can hedge against the supplier risks. Since AF has relationships with over 100 vendors in 20 countries, it can flexibly switch from one source to another when necessary. AF has the ability to increase its total supply capacity. Even if there are a sudden wave of demand for certain products, having a strong relationship with over 100 vendors will ensure AF a certain supply of products and therefore the supply chain will be more stable (Inboundlogistics.com, 2011). However, such global sourcing strategy also brings some disadvantages. The source of production activity is too dispersed; it is a challenge to find qualified executives who know the local business environment and understand the corporation’s inner workings especially in the Asia Pacific region (Inboundlogistics.com, 2011). We would advise Abercrombie and Fitch to send executives from the US to those countries and hire local managers simultaneously to ensure the production activity smooth. The primary advantage of offshoring is to reduce costs. Offshoring its distribution centers in Europe and Asia can save distribution and transportation costs of merchandise to stores in Europe and Asia. However, if the third-party distribution center in the Netherlands or Hong Kong shuts down suddenly, the distribution of merchandise in Europe and Asia will be totally disrupted. Therefore, AF should leverage the risk by running an additional distribution center in some low-cost countries, such as Vietnam. This move will also support AF’s future expansion. Opportunities and Threats in Vietnam Opportunities Labor cost in Vietnam are absolutely lower than that of China (JETRO, 2011) (NWPC, 2014). See Appendix 1 for figure 1. Government policy to attract FDI (Kim, Lee Cheong, 2011). See AppendixThreats 2.  TPP (Trans-Pacific Partnership) Cost reduction, lead time reduction, and tax benefit. See Appendix 3 for table 1. Currently only 16% of AF clothes are produced in Vietnam (Google.com, 2011). See Appendix 4 for figure 2. Vietnam has a better status for lead times, infrastructure, and working circumstances than other developing countries (Kim, Lee Cheong, 2011). As AF doesn’t operate their own manufacturing facilities but uses vendors, it can be intense competition among the companies who want to attract vendors in Vietnam. Bangladesh, Cambodia, and Sri Lanka which have lower labor cost than Vietnam are trying to develop their infrastructure and manufacturing conditions to attract vendors. In the future, those undeveloped countries can be a threat to the Vietnam market. Minimum wage in Vietnam is increasing by 15% in 2013, and 17% in 2014 (Vettoretti Huyen, 2013). Suggestions for the Emerging Market We suggest establishing a distribution center (DC) in Vietnam as a strategy to create synergy with the new manufacturing facilities in Vietnam. Currently, many global fashion retailers are trying to generate vertical integration in the emerging markets because they can control the demand fluctuation easily and simplify procurement and administrative procedures eliminating the need to deal with a wide variety of suppliers and distributors. If TPP is concluded, the degree of tariffs will decrease, so it would be better to concentrate on upstream investment in Vietnam. Because emerging markets are not wellorganized and there is more lack of conditions than the developed market, owning a DC will be more stable and protective. Eventually, a DC in Vietnam will create good access to the Asian market. In  overseas developed markets, AF doesn’t own the distribution centers but uses third-party DCs in the Netherlands and Hong Kong. However in Vietnam, we assume that AF would set up a distribution center as a wholly-owned subsidiary. The third-party logistics in outsourcing the whole distribution to a specialized company would reduce the cost. Now AF has only third-party DCs in overseas and there is a threat to be shut down. In order to prevent this situation in advance, owning at least one wholly-owned DC is practical. Because a wholly-owned DC totally controlled by the company, the company can adjust to the demand fluctuation better than a third-party DC. Therefore wholly-owned DC will function as a safety net in a case there is an uncontrollable problem in a third-party DC. Strategic Objectives of Entering China With regard to market seeking, â€Å"China will represent the biggest market potential for our brands,† said Craig Brommers, senior vice president of marketing for AF (Fashionunited.com, 2014). Undoubtedly, China is a huge and growing market with a population of approximately 1.4 billion. Therefore, AF has been trying to locate its potential customers by opening the first flagship store in Shanghai and 8 Hollister stores in different cities since 2012. The company plans to open over 100 new stores under its Hollister and AFs label in China over the next ten years (Fashionunited.com, 2014). With regard to efficiency seeking, there are an abundant suppliers and a low-cost labor force. Specifically, over 60% of its vendors were located in China in 2011 (Google.com, 2011). Also, there has been a distribution center in Hong Kong since 2011. Therefore, AF can achieve lower transportation costs since the delivery is closer to its target markets. Past Foreign Entry Modes Abercrombie and Fitch started its international expansion in London by opening the first overseas flagship store in 2007, and it almost adopted a single foreign entry mode in the last 7 years. AF established a wholly-owned subsidiary when entering a new market, such as the Netherlands, UK, Hong  Kong, Singapore and Japan. However, AF opened its first Hollister store in Dubai in 2013 through a joint venture with Majid Al Futtaim Ventures and an AF flagship store is expected to open in Dubai in 2014 the same way (Majid Al Futtaim Ventures, 2014). For Abercrombie and Fitch, establishing wholly-owned subsidiaries is a better entry mode for international expansion. AF can enjoy full control of the international stores since it pursues an intensely American retail and marketing strategy (Marx, 2010). Therefore, establishing a wholly-owned subsidiary enables AF to integrate the operation of its subsidiaries tightly with itself and to control what the subsidiary should follow. In addition, it takes a lot of efforts to establish an effective relationship in a joint venture and the cultures of the companies may be incompatible. Financially, The parent company can consolidate the results of its wholly-owned subsidiaries into one financial statement (Basu, 2014).Considering that AF is opening more international stores worldwide, the financial reporting would be too complicated if it engages in joint ventures in many different countries. Multinational Strategy Home Replication Stage The multinational strategy of Abercrombie and Fitch closely resembles the home replication strategy. There are several evidences from practice. First of all, the local responsiveness of AF’s international stores is very low. The staff greets shoppers in English, rather than the local language of the foreign countries. This results in foreign customer alienation since some customers will be forced to surface their rusty English during the transaction (Marx, 2010). AF replicates its home country-based competencies such as brand positioning. Sex appeal is a big part of the brand’s charm in the United States; AF also puts this masculine ideal into practice of its international stores. Particularly, many of the male staff members are half-naked in the stores (Marx, 2010). Finally, the implementation of its marketing strategy and operation is easier. The store design and the interior are the same worldwide along with extremely dim lightings, a strong smell of cologne and perf ume and the staff singing or dancing with the  pounding American songs. ‘Real-life’ Social and Environmental Dilemmas A ‘real life’ social dilemma has adversely impacted AF in recent years surrounding its CEO. The official website of the company states the company strives to be â€Å"an inclusive environment that values the differences of its associates and customers† (Anfcareers.com, 2014). While this is the official statement, an interview with the CEO, Mike Jeffries, brought a contrasting view to light. Jeffries identified his target market by claiming, â€Å"a lot of people don’t belong [in our clothes]†¦Are we exclusionary? Absolutely† (Walker, 2014). AF has since released an apology, but boycotts, negative celebrity statements, and petitions were enacted. This issue is an ethical dilemma to the firm because of their strategic place in the clothing market. In order to stay popular, an essence of exclusivity has been built around the brand, since the more exclusive the brand appears, the more interest the brand receives. This has been AF’s approach, but this strategy is not inclusive. The firm had to determine whether to increase their size options or continue with the current productive model. The most important stakeholders for this dilemma are the CEO and those who hold a large portion of AF’s stock. If AF is not able to effectively remedy the situation then the company’s profits will continue to suffer. AF is a public company so their performance directly affects their stock. If the dilemma is not resolved quickly, it could trigger a chain reaction of a loss in profits which leads to lower stock causing several holders of the stock to drop it effectively dropping the value of the stock. The effects of this dilemma could have extremely long lasting repercussions. An environmental issue which has become a dilemma for AF is the implementation of harmful chemicals in their signature fragrances. Within the fragrance Fierce, â€Å"11 secret chemicals that are not listed on the label† (Henricks, Malkan, Shils, 2014) were found that heighten allergic reactions. This particular fragrance caused reactions from various activist groups such as Physicians for Social Responsibility, MomsRising, and others which total over 1.5 million people (Henricks, Malkan, Shils, 2014). Utilizing harmful chemicals is an ethical environmental dilemma for AF  because the current formula has generated incredible revenue. The official website of the company addresses large environmental impact areas such as limiting their carbon emissions, but nothing addresses something  which impacts the environmental on this particular scale. If AF is able to hide these chemicals and still gain their desired sales results then it has little motivation to stop acting in this manner. The most important stakeholders surrounding this dilemma are not only the executives and upper management of the company, but also the lowest store employees. A loss in serious sales will affect most employees in a company, but this situation would directly affect individual store employees.Customers may stay away from the stores in order to avoid the negative side effects resulting in a loss of profit and jobs for store employees. Developing a Globally Standardized Strategy Currently, Abercrombie and Fitch already has an established a globally standardized strategy to cope with the selected dilemmas. The strategy is laid out on a website by the company which was created specifically for displaying the considerate side of AF. Covering everything from the sustainability to collaborations to specific policies, AF clearly display their globally standardized strategy to â€Å"ensure that the highest values of human rights are being upheld at our headquarters, in our stores and within our supply chain† (anfcares.org, 2014). AF should have a globally standardized strategy. Even if ethical imperialism is not wise, the specific industry operations call for a globalized solution. Several ethical viewpoints are almost universal for garment manufacturing. Several unethical decisions such as environmental negligence and the use of harmful chemicals have resulted in scandals and dilemmas because of the accessibility of information. For example, the infamous in terview with the CEO was conducted years before it gained notoriety. By having a globally standardized strategy, AF could mitigate potential situations before they arise. The selected dilemmas have global relevance. Inclusion, the principle dealt with in the social dilemma, is incredibly important to a multitude of  cultures across the world. A store in the Netherlands which openly admitted to not wanting homosexual customers would experience a similar backlash. The environment issues also reaches across borders. Asthma, one of the problems which are heightened by the fragrances, is prevalent in â€Å"an estimated 300 million people† (Aaaai.org, 2014). Abercrombie and Fitchs’ Actions Compared to Unilever The actual solutions by AF are not similar to the solutions practiced by Unilever. Both AF and Unilever have explicit codes of conduct and plans to deal with ethical dilemmas which arise. Even though these plans exist, AF has demonstrated that its actions do not always align with their official stance. Unilever’s approach to social impact such as gender equality has been greatly documented, and one of their main goals by 2020 is to â€Å"help more than 1 billion people improve their health well-being† (Vis, 2014). The implementation of this policy is seen as Unilever has helped generate around â€Å"65,000 microentrepreneurs† (Vis, 2014). A stark contrast exists between Unilever’s actions and those of AF. Unlike Unilever, the ultimate actions of AF and their refusal to stock larger size clothing proves the company is dedicated to portraying a positive image without actually helping to make a positive change in society. AF’s actions toward their environmental impact align almost with their actions for social justice. Although its’ official stance is to reduce its environmental footprint, the company has taken no action in light of the protests by environmental groups driven â€Å"to get rid toxic chemicals from the environment† (Lutz, 2013) which are the result of their colognes. Unilever’s approach towards economic longevity has been greatly noted as â€Å"75% sites [send] zero waste to landfill† (Vis, 2014). Unilever’s approach is much more preferable to AF’s approach. From a social standpoint, Unilever’s actions have actively made a beneficial social change as Unilever continues to fulfill their promises. AF continues to ignore their customer’s plight even though the company claims to truly care. From a corporate standpoint, Unilever’s approach is better because many news outlets have cited the company as making a positive chan ge, while AF continues to have controversies resulting in a sales drop of 10%. Overall, Unilever has a much better strategy than AF. Appendix 1 Figure 1: Average Monthly Wage of Asian Countries (Nwpc.dole.gov.ph, 2014) Appendix 2 Improvement of the Vietnam Government Policy on FDI (Kim, Lee and Cheong, 2011) The Vietnam government policy for FDI was dramatically improved by registering into WTO (World Trade Organization) and preparing for PNTR (Permanent Normal Trade Relations). Besides, the government adopted global standards, abolished discrimination of foreigners, and opened the service part such as finance or communication. As a result, FDI into Vietnam broadened to various areas, for example, fabrics, mining, energy, finance, logistic and so on. Especially concluding PNTR between the US made it possible to participating into WTO and encouraged foreing investors to enter into the Vietnam market. Another important change in the policy is related to the modification of legal restrictions or rules. On 1st of July, 2006, the government changed the original law for FDI which had been adapted only to the local people into the newly modified law for FDI which is commonly adapted to the both parts of foreigners a nd local people. This was the effort of the government to create more competitive investment conditions which are changing subject of application, and abolishing double price and repatriation tax. Also the government has been modifying the original business law, investment law, land law, and corporate taxation. References 1) Aaaai.org 2014, Asthma Statistics | AAAAI. [online] Available at:http://www.aaaai.org/about-the aaaai/newsroom/asthma-statistics.aspx [Accessed 14 May. 2014]. 2) Abercrombie and Fitch 2012, Annual report 2012, Abercrombie and Fitch Co., New Albany, Ohio. 3) Anfcareers.com 2014, Abercrombie Fitch Careers. [online] Available at:http://www.anfcareers.com/page/Diversity [Accessed 15 May. 2014]. 4) Anfcares.org 2014, AF Cares Our Strategy. [online] Available at:http://www.anfcares.org/sustainability/environment/strategy.jsp [Accessed 16 May. 2014]. 5) Barrie, L. 2010, Abercrombie Fitch sees opportunities in higher costs. [online] Just-style.com. Available at: http://www.just-style.com/analysis/abercrombie-fitch-sees-opportunities-in-highercosts_id109585.aspx [Accessed 18 May. 2014]. 6) Basu, C. 2014, The Advantages Disadvantages of a Wholly Owned Subsidiary. [online] eHow. Available at: http://www.ehow.com/info_8627934_advantages-disadvantages-wholly-ownedsubsidiary.html [Accessed 18 May. 2014]. 7) Childs, M. and Jin, B 2014, Is Uppsala model valid to fashion retailers? An analysis from internationalisation patterns of fast fashion retailers. Journal of Fashion Marketing and Management, 18(1), pp.36 51. 8) Csimarket.com 2014, Abercrombie Fitch Co. (ANF) Jan. 31, 2014 Sales per Country and Region, Annual Report CSIMarket. [online] Available at:http://csimarket.com/stocks/segments_geo.php?code=ANF [Accessed 18 May. 2014]. 9) Fashionunited.com 2014, Abercrombie Fitch aims to open 100 stores in China Report Executive. [online] Available at: http://www.fashionunited.com/executive/report/abercrombiefitch-aims-to-open-100-stores-in-china-20142304495372 [Accessed 18 May. 2014]. 10 10) Geert-hofstede.com 2014, United States Geert Hofstede. [online] Available at: http://geerthofstede.com/united-states.html [Accessed 18 May. 2014]. 11) Google.com 2011, Abercrombie Fitch Production and Expansion Google Maps. [online] Available at: https://www.google.com/maps/ms?ie=UTF8t=mvpsrc=6oe=UTF8msa=0msid=2073664 88920603185286.0004b07bb7b95fb0f4d6cdg=feature [Accessed 18 May. 2014]. 12) Henricks, S., Malkan, S. and Shils, J 2014, Campaign for Safe Cosmetics : Abercrombie Fitch: Stop Spraying Toxic Fragrance!. [online] Safecosmetics.org. Available at: http://safecosmetics.org/article.php?id=739 [Accessed 14 May. 2014]. 13) Inboundlogistics.com 2011, Supply Chain Gain: Global Growth Inbound Logistics. [online] Available at: http://www.inboundlogistics.com/cms/article/supply-chain-gain-global-growth/ [Accessed 18 May. 2014]. 14) Kim, T., Lee, J. and Cheong, J 2011, Firm Level Productivity and Survey Results for Korean Firms in Vietnam and Indonesia. KIEP Research Paper No. Policy Analysis-11-22, pp.16-180. 15) Lutz, A 2013, Reasons Why People Hate Abercrombie Fitch. [online] Business Insider. Available at: http://www.businessinsider.com/abercrombie-and-fitch-worst-controversies-20138?op=1 [Accessed 18 May. 2014]. 16) Majid Al Futtaim Fashion 2014, Hollister to make its Middle East debut in 2013. 17) Marx, W. 2010, In Tokyo, Abercrombie Misses Its Mark. [online] BoF The Business of Fashion. Available at: http://www.businessoffashion.com/2010/02/in-tokyo-abercrombie-misses-itsmark.html [Accessed 18 May. 2014]. 18) Nwpc.dole.gov.ph 2014, Official Website of National Wages and Productivity Commission. [online] Available at: http://www.nwpc.dole.gov.ph/pages/statistics/stat_comparative.html [Accessed 18 May. 2014]. 19) Overseas Research Department Japan External Trade Organization (JETRO) 2011, The 21th Comparative Survey of Investment-Related Costs in 31 Major Cities and Regions in Asia and Oceania. p.68. 20) Peng, M. and Meyer, K 2011, International Business. 1st ed. London: Cengage Learning, pp.7276, 363, 458-459. 21) Rugman, A. and Verbeke, A 2004, A perspective on regional and global strategies of multinational enterprises. Journal of International Business Studies, 35(1), pp.318. 22) The Ohio State University Fisher College of Business 2013, Abercrombie Fitch Equity Research Report. pp.3 4. 23) Vahlne, J. and Johanson, J 2013, The Uppsala model on evolution of the multinational business enterprise – from internalization to coordination of networks. International Marketing Review, 30(3), pp.189 210. 24) Vettoretti, A. and Huyen, H 2013, Vietnam Set to Increase Minimum Wages from December 31, 2013. [online] Available at: http://www.vietnam-briefing.com/news/vietnam-set-to-increaseminimum-wages-from-december-31-2013.html/ [Accessed 18 May. 2014]. 25) Vis, J 2014, Making Progress, Driving Change. 26) Walker, J 2014, Abercrombie Fitch: Sorry!. [online] The Huffington Post. Available at: http://www.huffingtonpost.com/2013/05/23/abercrombie-and-fitch-apology_n_3323668.html [Accessed 18 May. 2014].

Rates of Reaction Essay Example for Free

Rates of Reaction Essay An enzyme is a protein molecule that helps other organic molecules start chemical reactions with one another; however, the enzyme itself is not affected by the reaction. A substrate is the substance acted upon by the enzyme. In this lab, catalase is the enzyme and hydrogen peroxide is the substrate. Catalase is found in both plant and animal tissues, and is abundant in plant storage organs. In this experiment, catalase is used from potatoes. Catalase is important to living things because it prevents the accumulation of hydrogen peroxide in the cell. Hydrogen peroxide is produced naturally as a byproduct of metabolism. It tends to disrupt the cells’ chemistry, too much can kill a cell. Therefore, the presence of catalase is needed to survive. Catalase breaks down the toxic hydrogen peroxide into harmless water and oxygen. If the concentration of the substrate hydrogen peroxide is related to the reaction rate of the enzyme catalase, then an increase in the concentration of hydrogen peroxide will increase the reaction rate of catalase. Catalase: Methods and Materials In order to experiment and determine the affects concentration has on reaction rate, you will need several materials. Such as, potato extract, crushed ice and water in a large beaker to keep the catalase cool, since catalase is sensitive to temperature. Hydrogen peroxide solution is needed at six different concentrations (10%, 25%, 40%, 60%, 75%, and 100%). Also, 0% hydrogen peroxide is needed, which is just simply water. In addition, you will need a 10 ml graduated cylinder, a 50 ml beaker, forceps, paper dots (Whatman #1 filter paper, 1 cm diameter), a paper towel, a stopwatch, and graph paper. During this lab, be careful of the hydrogen peroxide because it can damage skin and clothes. Be sure to immediately rinse and spills with water. Throughout the lab, always keep the potato extract in the ice-water bath; catalase is very sensitive to warm temperatures. For starters, 0% hydrogen peroxide was tested as the control group; 10 ml of hydrogen peroxide was measured of using a graduated cylinder. This sample is then poured into a 50 ml beaker. After swirling the potato extract, using forceps a paper dot is picked up and immersed into the potato juice for five seconds. Then the dot is drained on a paper towel for 10 seconds. Using the forceps the dot is picked up and placed in the bottom of the beaker containing the hydrogen peroxide solution. Soon the dot was expected to rise to the surface because the potato juice’s catalase would break down the hydrogen peroxide into water and oxygen. The oxygen gas gets trapped in the pores of the paper and caused to float. A stopwatch was used to measure the time in seconds from when the dot touched the solution until it reached the surface. The data was then recorded. The class was split into groups and each group was assigned a different percentile of hydrogen peroxide solution.

Development of Luxury Products: Montblanc

Development of Luxury Products: Montblanc Dissertation subject: a. Montblanc. Its development in the luxury industry OK b. The Montblancs brand extension in the luxury industry OK c. Montblanc brand: from a specialised luxury brand to a global luxury brand 2.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Dissertation issue / key question: a. Did Montblanc, a specialised luxury brand in the writing instrument segment, extend its perception of luxury brand to its other product categories? OK b. Has Montblanc, a specialised luxury brand in the writing instrument segment, been successful in extending this perception to its other product categories? 3.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Literature review: a. Definition of luxury: * Different points of view * Key words/concepts (to be tested in the survey) b. Definition of luxury brand c. Concept of diversification strategy: * Objectives * Types * Drivers to be successful (consumer perception / reaction) * Performance (to which extent) * Montblanc:    strategic diagnosis (SBU) d. Brand extension    Luxury brand perception: * (How to measure it? Consumers reaction) 4.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The research: a. Key question: can a specialised luxury brand extend its perception of luxury brand to other product categories? The case of the Montblanc brand.Today, is Montblanc a global luxury brand (not anymore a specialised luxury brand)? Therefore how was it possible? Well know reputation in its core business (for quality, design, social status) and the choice of neighbouring segments. b. Hypothesis: Montblanc is today an established global luxury brand. Montblanc is a clear example of a successful brand extension. How was it possible? (Reputation, tradition, quality, Montblanc extended its way of doing business based on quality and style next to its outstanding reputation in its historical core business) 5.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The research: a. Objective: To prove that Montblanc has been able, in a relatively short time, to become a global luxury brand. 6.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The research method: a. Which is the information to be collected in order to answer the issue discussed within our work and to verify the hypothesis?    the consumers perception of the Montblanc brand (the only boss) and the point of view of the Montblancs managers (figures on diversification mix, and resources allocated) b. How to collect the data (survey, interviews)? c. Which is the pitch of the research? Luxury sector, Montblanc and its major competitors in jewellery / watches / leather categories, luxury brand current and potential consumers. Becker, Howard S. (1998), Tricks of the trade, How to think about your research while youre doing it, The University of Chicago Press. 7.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Analysis of the research findings: a. Analyse and understand the collected data    as usually it helps identify some factors that may answer our issue, although often these elements are not complete b. Criticise the research method and its limits (limited sample) 8.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Conclusion: a. Buyers of Montblanc products (not only writing instruments): confirm the hypothesis b. Buyers of only Montblanc writing instruments    to gain tradition in watch and jewellery segments requires times although a good quality but not impossible c. Montblancs managers: good results so far. Recommendations: a. Montblanc has to go on investing in its diversification strategy because failing in doing so would be highly risky for its brand perception among the final consumers. Could Montblanc extend its perception to other product categories? Not right now: low resources and need to be definitively established as a luxury brand in key categories such as watches and jewellery. Write: * la probl ©matique involves the key question, the hypothesis of the research and the elements / factors which will help to develop the chosen subject.This first part includes the definition of the subject, the review of the literature (plus bibliography), the question, the hypothesis and the method of the research other than the action plan. * Final dissertation: develop the different topics without any linking parts, add these linking parts, further develop underestimated parts and cut what is useless. Add the table of contents, bibliography, appendix, etc. Executive Summary * The research and its Interest * The key question and the hypothesis * Research method * Major findings * Conclusion * Recommendations The purpose of this research paper is to investigate if and how a specialised luxury brand can extend its perception of luxury brand to other products categories. Being the luxury industry so wide of dimensions, the researcher decided to focus on one specific brand: Montblanc. This choice permitted to closer define the pitch of the analysis in order to carry out a reliable and feasible research that might prove the success of the diversification strategy pursued by the Montblanc brand. Montblanc represents, indeed, an interesting case study to show how the diversification strategy can be an effective tool to increase the luxury brand perception among the final customers. Montblanc, market leader for what concerns the writing instruments, has been striving during the last few years to definitively become a global luxury brand. To do so, Montblanc entered many different segments of the luxury world, such as leather, watches, fragrance and eyewear in the last â‚ ¬Ã‹Å"90s and the silver jewellery at the beginning of the 21st century. Moreover, a couple of years ago, Montblanc stepped forward into the fine jewellery business which is seen as the critical step in its strategic development to attain the full status of global luxury brand. In order to verify how the Montblanc brand is viewed and perceived in its competitive environment, the researcher adopted both a quantitative and a qualitative research method. On one hand, a customer survey consisted of XXX questions was developed. This survey submitted to actual and potential customers had the objective to impartially investigate the customer perception of the Montblanc brand. On the other hand, in-depth interviews with some Montblancs managers were carried out. The interviewed, who represented different levels of the Montblancs management, allowed the researcher to gain a full picture of the Montblanc brand and its strategic movements. Moreover the direct comparison with the Montblancs management was important to identify on which resources and competences the final recommendations could be based. For practical purposes, this study can be divided in five major parts: 1. the first part outlines the theme and the key question of the research paper; 2. the second part concerns the review of the literature as regards the following points: the definition of luxury and of luxury brands, some approaches to measure the brand perception / the reasons why people buy luxury goods (status-laden or conspicuousness-laden), and the diversification strategy. This part will be concluded with an in-depth analysis of the Montblanc brand; 3. the third part gives a fulfilling view of the undertaken research with particular attention to the objective, the hypothesis and the research method; 4. the fourth part covers the relevant findings coming from the analysis of the research results; 5. the last part presents the conclusions of the study and the researchers final recommendations to the brand. The theme of the research paper Luxury and the Montblanc brand gives an important insight of the key constructs at the core of the work. In first position one finds the term luxury whose meaning and definition are almost fuzzy. It is the reason why, this work will examine some important findings coming up from the literature so wide in this respect, at the end of which some major traits of the definition of luxury will be underlined. Especially, the literature review will cover the evolution of the definition of luxury all along the recent history. To be noticed that, the construct of luxury will be also investigated in the survey submitted to the final customers and also in the interviews to the Montblancs management and other practitioners of the luxury industry. This research, carried out by exploring both the customers and the professionals point of view, enriches the research itself and helps to get a good understanding of the major characteristics emerging nowadays about this fascinating concept. To be clarified that this study, focusing on the Montblanc brand, is related to a part of the luxury market such as t he accessories, jewellery and watches segments. The second part of the theme of this study is represented by three words: the Montblanc brand. This recalls two topics. The first one refers to the term brand. By revising the literature, a definition of brand will be proposed. In this respect, there are not important doubts and we will briefly comment the definition of brand recently provided by Jevons (2007). Nevertheless, some issues may arise for the definition of luxury brand which is obviously related to the construct of luxury. The expression the Montblanc brand as a whole, moreover, puts the attention on the leader German brand whose unmistakable star logo is worldwide the icon of quality and excellence. As previously said, the researcher chose a specific brand to be able to concretely study the fundamental question of his research paper that will be clarified in the next lines. To be noticed that the two parts of the theme title luxury and the Montblanc brand are tied up by the conjunction and that underlines the strict link between luxury and the Montblanc brand. Nevertheless, this link requires a further consideration because it can be misleading if not misunderstood. Which is the real mean of this linkage? There are no doubts that Montblanc is a luxury brand; but is it a specialised luxury brand or a global luxury brand? This question is strictly connected to the core issue of this master thesis. More precisely, the driver question is if a specialised luxury brand can extend its perception of luxury brand to other product categories. In order to answer this key issue, the researcher chose to study a well-known brand which has been pursuing a diversification strategy to become a global luxury brand. The construct of diversification strategy will be explained from a literature point of view. Moreover, an in-depth analysis of the Montblanc brand and its strategic business areas will be undertaken by applying some tools learned during the studies at the ESCP Europe especially during the modules of strategy and of strategic diagnostic. This becomes fundamental to better understand in which kind of diversification strategy Montblanc is engaged and to give a wide knowledge to the reader about the brand itself. To conclude, herein the reasons why the student chose this theme for his master thesis. There are three major reasons bringing to this choice. The first one refers to the luxury world. The construct of luxury, albeit widely analysed in the literature, remains somehow mysterious. Today, the definition of luxury is strongly evolving mainly due to the economic uncertainty mostly caused by the financial crisis of 2008. Therefore, although the probability to uniquely define luxury is very low if not nil, the challenge to better understand what luxury is/means/represents/is perceived nowadays represents to the researcher a great topic of interest. His interest in luxury is also nourished by the will to work in this sector in the upcoming future. This surely stems from the professional experiences made by the student as part of his studies within companies (Montblanc and Concord) operating in the jewellery, watches and accessories segments. Indeed, during these experiences, the student was impressed by this world rather mysterious where the care of the smallest detail makes a huge difference. The second reason concerns the Montblanc brand. The researcher had the chance to work for five months at Montblanc International, at the Headquarter in Hamburg within the Jewellery Category Department, and for three months at Montblanc UK, in London within the Retail Department. During this extremely positive experience, the student discovered in-depth this fascinating brand, from its tradition to its vision, from a strategic and more operational point of view. Surely the experience personally gained at Montblanc became highly useful in the development of the research and mainly in the analysis of the brand and of its strategy. Moreover the ongoing meetings/interviews with the Montblancs management had a double advantage. On one hand, it enriched the content of the study and on the other hand helped the student maintain the contacts with a firm that is at the top of his personal ranking of his employment research. The third reason concerns the strategic aspect behind this theme. Indeed, the diversification strategy pursued by Montblanc offered to the student the possibility to develop this construct often used/abused by luxury brands to extend their perception of luxury and, as a consequence, to finally increase their revenues. The diversification strategy has often been the object of strong discussions, mainly for what regards the results of pursuing this strategy and the ways of implementing it. This work has got the objective to rationalise the different types of diversification strategy and to investigate this theoretical concept on a concrete case study, thanks to the study of the Montblanc brand. This research will focus on the key factors of success or failure standing from the analysis of the diversification strategy pursued by Montblanc. Did Montblanc, a specialised luxury brand in the writing instrument segment, extend its perception of luxury brand to its other product categories? This key question gives a stricter view on the content of this research paper. This study will focus on the strategic development of a specialised luxury brand as Montblanc was/is in the writing instrument segment since its origin. In detail, the research has got the purpose to investigate how the Montblanc brand is nowadays perceived from the final customers. The findings coming up from the customer survey will help the researcher evaluate if the Montblanc brand is still perceived as a specialised luxury brand or if its image has developed to the status of a global luxury brand. The customers responses represent indeed the most reliable feedback to assess the degree of success of the diversification strategy pursed by Montblanc in the last years which has brought the brand to operate in relevant luxury segments such as leather, watches, fragrance, eyewear and jewellery next to the historical business area of writing instruments. At a second stage, the customers responses will be compared with the Montblanc managements point of view in order to verify if some discrepancies exist. This step is important to get a full picture of the Montblanc brands standing. Then, after an accurate presentation of the research, the student will point out the major findings in order to draw his conclusions about his study. The conclusions will include the major factors of the diversification strategy pursed by Montblanc to extend its perception of luxury brand to other segments in the luxury industry, in addition to the fields of improvement coming out of the research. Finally this research paper will present the students recommendations which will take into account the strategic objectives standing out from the interviews with the Montblancs management and also the Montblanc brand perception outlined by the customer survey. In the next pages, the student will study, by starting from the literature review, some key concepts at the core of this research paper which include: * the definition of luxury and its evolution; * the definition of luxury goods; * the definition of brand and of luxury brands; * briefly the different approaches to measure the brand perception among the final customers.> the reasons why people buy luxury goods (status or conspicuousness); * and the presentation of the diversification strategy: the objectives, the different types, the advantages and the drawbacks, the risks, and the key success factors. The literature review, as said, will be completed by the contextualisation of these constructs to the Montblanc brand. At this stage the Montblanc brand will be studied in order to give all the required basics to launch the following research. In order to better define the constructs at the core of this research paper that will give the background of the following research, an in-depth literature review will be made. Four major concepts will be discussed thanks to the support of different literature material which includes insights from books, articles, management and fashion websites and personal references in terms of power point presentations, excel documents and excel files. The activity of research consisted mainly in going through the databases accessible from the Intranet at ESCP Europe in order to directly access to a wide range of reference material. The definition of luxury The first part of the literature review regards the construct of luxury. Luxury has always been a central field of research. Indeed its specific characteristics have attracted the interest of the researchers all along the history. However, albeit the meaning of luxury is widely discussed in the literature, researchers did not come up with a commonly accepted definition of this construct. For sure, it is not possible to uniquely define luxury. Simply, the words do not seem to be able to describe what luxury means. In this respect, the literature leaves this concept shrouded in mystery. This research paper will face the definition of luxury by going through different steps. At the beginning some different definitions of luxury will be put forward by touching its literal and economic meaning, and also by exploring some philosophical and social interpretations. Then, an interesting brief explanation of the etymology of the term luxury will be presented. Afterwards, the history of luxury will be outlined before entering in more detailed considerations regarding the notions of old and new luxury. At the end of this first part, the student will show the latest development of the luxury construct by getting important insights from the practitioners point of view founded in articles related to the luxury world. Literal definition of luxury Websters Revised Unabridged Dictionary (1913): Anything which pleases the senses, and is also costly, or difficult to obtain; an expensive rarity.'[1] [2] Economic definition of luxury Mason (81): Un produit est consid ©r © comme luxueux si l ©lasticit © de la demande par rapport au revenu est sup ©rieure    1. Philosophers definition of luxury Paul Iribe (1932): Luxe: besoin qui commence o ¹ finit la n ©cessit ©.'[3] Voltaire (1694-1778): Superflu chose tr ¨s n ©cessaire. Jaime le luxe et m ªme la mollesse. Rousseau: Le luxe doit  ªtre rejet © car il est contraire aux exigences de la nature. Sociology researchers definition of luxury Bourdieu (79,84): Comme tout acte de consommation, lachat dune marque de luxe est un moyen daffirmer sa position sociale, de faire croire    un changement de position ou prouver un changement de position sociale. Tout d ©pend du r ´le que lindividu joue ou pense jouer au sein de son groupe de r ©f ©rence. Baudrillard (68): Lacc ¨s au luxe est d ©termin © par une volont © sociale de se distinguer, de se d ©marquer ou bien encore de saffilier    un groupe. Suivant le groupe social auquel la personne se r ©f ¨re, le luxe aura une signification diff ©rente. Maffesoli (96): Lanalyse du luxe par le prisme des classes ne prend pas en compte le resserrement des individus autour de groupes restreints, de tribus. La consommation devient alors un plaisir personnel et intime, sans volont © ostentatoire. Management researchers definition of luxury Gutsatz M. (96): Le luxe comprend deux niveaux de repr ©sentation. Le premier niveau est mat ©riel, il comprend le produit et la marque (son histoire, son identit ©, son savoir faire unique, le talent). Le second niveau est psychologique. Il sagit de repr ©sentations qui nous sont propres, influenc ©s par notre milieu social et les valeurs de la marque. Roux E. (91): La marque de luxe se caract ©rise par une valeur ajout ©e symbolique, imaginaire ou sociale qui la diff ©rencie des autres. La marque de luxe correspond ainsi aux besoins symboliques que le consommateur peut ressentir (par opposition aux besoins fonctionnels ou de vari ©t ©). Laurent G., Dubois B. (95): Le luxe est subjectif, personnel et perceptuel. Si lon cherche    d ©terminer les attributs caract ©risant un produit de luxe, 6 dimensions apparaissent : Une qualit © sup ©rieure et per §ue, un prix  ©lev ©, une s ©lectivit © et une raret © des produits et de la distribution, un pouvoir attractif important un savoir faire certain et la non n ©cessit ©. Practitioners definition of luxury Coco Chanel: Le luxe est le contraire de la vulgarit ©. Boucheron A.: Le luxe est une  « mayonnaise  » constitu ©e de diff ©rents ingr ©dients. Si lun dentre-eux manque ou est mal dos ©, la mayonnaise tourne. Le luxe est un concept et non un produit.[4] Jean-Louis Dumas-Herm ¨s, historic Chairman and CEO of Herm ¨s: [5] Just by analysing these few definitions of luxury, one can notice the absolute subjectivity of this concept. It stands out that luxury has got a close linkage with pleasure, rarity, exclusivity, quality, high price tag. Economists define luxury as something which is unnecessary, statement which would be probably argued by some studies on the consumers reasons to buy luxury. For someone (Rousseau) luxury should even be avoided because it is not a primary need of the human being. Luxury is something that belongs to the inner part of each individual but it can be also highly other-oriented. By wearing or experiencing luxury items, an individual expresses his own personality and can show his social status and position in the community. The fact is that luxury is probably a bit of everything, a perfect trade off of opposite concepts. This makes luxury a kind of mystery. After this round-up, the study will briefly present the etymology of the term luxury before briefing touching the historical evolution of luxury. Etymology of word luxury According to Dubois, Czellar and Laurent (2005) the English term[6] luxury is derived from the Latin luxus, which, according to the Oxford Latin Dictionary, it signifies soft or extravagant living, (over-)indulgence and sumptuousness, luxuriousness, opulence; luxus also means sensuality, splendour and its derivative luxuria is extravagance, riot etc. Merriam-Websters Dictionary defines luxuriance as something characterized by richness and extravagance, often tending to excess. The word luxury is also often semantically associated with lux the Latin word for light; therefore, luxury carries connotations of brightness. It is glittering and, in addition, it is something visible. The evolution of luxury Until the Middle Ages the writings point out that luxury was the reflection of the religious mystery that drives the human being to go beyond himself driven by an offer or a sign. But the heyday of luxury is without any doubt the Renaissance (15th and 16th century), flourishing period for literature, art and science. This period reflects the explosion of luxury, vogue of the ostentatious architecture coming from Italy. At that time, luxuries are exclusive items belonging to the aristocracy and the court. During the Renaissance luxury becomes the prerogative of the bourgeoisie. During the 18th and 19th century luxury remains exclusive of the  ©lite. The 20th century signs an important step in the evolution of luxury. Mainly after the Second World War luxury becomes almost conformist, not extravagant or eccentric. In the â‚ ¬Ã‹Å"80s, the focus is on the luxury consumer; in this time, younger period discover luxury thanks to the accessories. At the end of this decade, there is the boom of luxury for what concerns the distribution channel development. The major players widen their reach by exploiting the markets where they are present and even by entering new markets. At the beginning of the â‚ ¬Ã‹Å"90s, the crisis that hit also the luxury industry, pushed to rethink the concept of luxury that gained a higher spiritual/moral meaning in addition to the impeccable quality.[7] Old-luxury vs New-luxury With the 21st century, new terms about luxury are emerging in the practitioners literature. For the purpose of this research paper, in the next few lines some considerations will be made on the expression of old luxury in opposition to new luxury in order to clarify their meaning. Some practitioners argue that old luxury is about the good itself and is defined by the company, in opposition to This seems to trace a clear line between the two concepts: old luxury is about the material thing, it is about stuff. Instead, new luxury is about experiencing. Nowadays, it seems evident that old luxury cannot anymore survive. The high quality of luxury products is assumed by consumers who are looking forward for something more. In our time, luxury is increasingly defined as those special qualities, features and attributes intrinsic to a product and that go beyond the item itself. According to Ms. Danziger (2008)[9], the product itself does not anymore create personal fulfilment. Today, luxury is in the eye of the beholder and the consumers perceptions are not anymore, exclusively depending on the exceptional quality of luxury products and on the high price tag. This does not mean that the materialism is not important but only that consumers are eager of experiences. Therefore, as a consequence, a shift from product-centric to consumer-centric point of view becomes inevitable to attract luxury consumers. The needed clarification of old luxury and new luxury concepts will become also useful when the study will discuss the definition of luxury brands and in the research of the consumers perception of the Montblanc brand which will lead to the students recommendations at the end of this research paper. At this point, it becomes interesting to see how the todays definition of luxury has evolved in the light of the recent events occurred in autumn 2008 which had an important impact on the entire economy and, therefore, also on the luxury industry. Todays definition of luxury ppt vale, crisis, bling bling, tradition, According to Yeoman and McMahon (2005), luxury is incredibly fluid, and changes dramatically across time and culture'[10]. This opinion becomes very much clear by thinking if the meaning of todays definition of luxury is the same definition of luxury of just eighteen months ago. Today it is even harder to give an accurate definition of luxury. After the financial crisis, culminated with the bankruptcy of some key players in the real estate and banking industry which caused a chain reaction hitting all the other sectors, the perception of luxury has surely changed, at least to a certain extent. This critical point merits further considerations and, therefore, it will be investigated in the following research at the core of this study. In the next lines some leaders opinions in luxury will be presented. Some of these thoughts were collected in a confidential in-depth research carried out at the beginning of 2009, supplied by Montblancs management. They will introduce the students point of view about the sharp evolution of luxury meaning in the last months. Herein, some comments about the change of luxury construct in the last year. S. Toledano, Dior: Compulsive shopping, its over. M. Nieto, Baume Mercier: Price sensitivity is coming back fiercely. C. Binkley, The Wall Street Journal: Its bling over J. Rupert, Richemont: During a recession, Im sure consumers will choose solid values. B. Pavlowski, Chanel: Dont neglect any aspect of the product quality. R. Palti, Le Nouvel Economiste: Many markets are saturated and there is an increasing number of offers proposing the same service. Finding what will best meet the clients expectations is no easy task. And yet, in these days of economic, financial ( lack of confidence) crisis, there is not a single company that can afford not to satisfy its clients, even just to sell. B. Arnault, LVMH[11]: post-recovery customers will not only place a particular emphasis on values like quality and craftsmanship, but also on exclusivity and commitment to social and environmental responsibility. D. Dion, Sorbonne University: Luxury has to return to its exclusive and extraordinary roots. B. Fornas, Cartier: We are witnessing a return to true luxury and high end luxury products, which Cartier symbolises. JC Biver, Hublot: When there is a crisis, it is necessary to get as close as possible to ones clients to better understand them, to reassure them and to make in due time the right decisions. S. Toledano, Dior: There should be both empathy and connivance between the brand and the client. A. Ahrendts, Burberry: Even though the overall market may become difficult, I think that retailers and customers are always open to a new innovative idea or a new exciting concept. Jeffry M. Aronsson, Donna Karan: luxury is attention to detail and quality backed by superior service.'[12] B. Pavlowski, Chanel: One should keep investing in creation. D. Peters, Jewelers of America: Selling in challenging times is not about product and its not about price. Rather, its about people and relationships, and the quality of the customer experience. J. Taylor, Harrison: The definition of living well is changing. There is a desire to not stand out. If youre laying people off, you dont want to buy a Ferrari. S. Geary, Mulberry: In the coming months, the mood will be against that â‚ ¬Ã‹Å"blind consumption. A. Arnault, LVMH: The collection focused on elegance and discretion and used materials that were noble but not too visibly noble. Giorgio Armani: Those who deliver what they promise to their customers, and bear their customers in mind, will survive the current economic climate. After this round-up, some further considerations have to be made. At our time, some relevant trends can be observed in luxury. These trends have an important impact on todays interpretation/ perception of luxury. Increasing of price sensitivity is one of them. In time of crisis, luxury sector is one of the most negatively affected due to the nature itself of luxury products. According to Maslows pyramid, luxury products do not belong to the first steps of the human beings needs (phy