i
dividually students will develop a formal response to the problem(s) posed in the case, addressing the following areas within the analysis, and using the same headings. (Numbers in brackets do not necessarily correspond to length but represent the weight that will be given to each section in the grading):
There is no set length to the report, but clear, succinct and concise language and organization will be considered favourably in the grade.
Students will submit the final report as a word document through the submission link below.
The Case
You are a Senior Consultant for the professional service firm, BUSI 2083 LLP. Your firm specializes in providing a wide variety of internal business solutions for different clients. It is your final week on the job and a Manager asks you for some help prior to your departure. Eager to leaving a lasting impression, you start reading the background information provided by the Manager.
Lesley Donovan is the controller for the East division of Explorer Ltd. Jason Conner, head of plant engineering, has just left Donovanâs office after presenting three alternatives for submission in the capital expenditure budget for the fiscal year 2014. The budget is due to the CEO in two days and therefore Donovan realizes that time is of the essence.
Conner has outlined the following alternatives to replace an outdated milling machine:
Explorer Ltd. is a well-established company. The company was set up about 30 years ago by two brothers Dan and Kevin Thompson, in Huntsville, Ontario, to produce accessories for the automobile industry. The Central division continues to serve the auto industry, and is the largest division in the company with sales of $35 million annually. Danâs son is now head of this division. Kevin is still active in the company and is the Chief Executive Officer (CEO). His office is located in Toronto.
The parts division supplies seals to the mining and petrochemical industry from a plant in Toronto. This division is only ten years old and until 2010 was highly profitable. As a result of the downturn in the sector of the economy, sales in 2012 were only $12 million.
The East division, located in Scarborough, is the engineering division. Full-time employees tend to work approximately 2,000 hours in the division. Regular product lines include industrial fans, industrial cooling units, and refrigeration units for industrial users. The division is highly capital-intensive and sales tend to be directly related to general economic conditions.
Each division runs independently and performance is based upon budgeted return on investment. Bonuses are paid if the budget target is achieved. Annually, each division prepares a detailed budget submission to Kevin, outlining expected profit performance and capital expenditure requests. The milling machine proposal is part of the capital expenditure request.
The 2013 pro forma income statement for East division is set out below:
|
Sales |
$22,364,000 |
|
Cost of Goods Sold |
$14,760,240 |
|
Gross Profit |
$7,603,760 |
|
Selling and General Administrative Costs |
$3,578,760 |
|
Allocated Costs (based on sales) |
$1,677,300 |
|
Income Before Income Taxes |
$2,347,700 |
|
Return on Sales â 10.5% |
|
|
Return on Investment â 8.5% |
|
|
Investment (Historical Cost) |
$27,626,118 |
Jason Connor has pointed out to Donovan that the existing machine is not only outdated but maintenance costs are becoming prohibitive. Jason also noted that maintenance costs of new general purpose machines are only $26,000 while special purpose machines can save an additional $14,000 in maintenance. Also there would be a significant savings in insurance as the price for a general purpose machine would drop to $3,000 while a special purpose machine would be 67% higher than the general purpose machine. The machine has no market or salvage value and he is sure that its book value is now zero. The trouble is that he doesnât know which proposal is best for the company. In addition to the cost and revenue date provided, Connor provided comments on each alternative below:
|
Material and parts |
$55,000 |
|
Direct labour (DL$) |
$90,000 |
|
Variable overhead (50% of DL$) |
$45,000 |
|
Fixed overhead (25% of DL$) |
$22,500 |
|
TOTAL |
$212,500 |
General comments
The required rate of return for this investment class has been set at 8% by Kevin Thompson.
Required
Prepare the budget submission to Kevin. Show your answers.
In: Finance
Taylorâs âLibertarianismâ
THE THEORY OF AGENCY
What is Taylorâs concept of agent causation?
Does it accurately reflect what people take themselves to be doing when they perform action?
Why or why not?
(24) The only conception of action that accords with our data is one according to which menâ and perhaps some other things tooâare sometimes, but of course not always, self-determining beings; that is, beings which are sometimes the causes of their own behavior. In the case of an action that is free, it must be such that it is caused by the agent who performs it, but such that no antecedent conditions were sufficient for his performing just that action. In the case of an action that is both free and rational, it must be such that the agent who performed it did so for some reason, but this reason cannot have been the cause of it.
(25) Now this conception fits what men take themselves to be; namely, beings who act, or who are agents, rather than things that are merely acted upon, and whose behavior is simply the causal consequence of conditions which they have not wrought. When I believe that I have done something, I do believe that it was I who caused it to be done, I who made something happen, and not merely something within me, such as one of my own subjective states, which is not identical with myself. If I believe that something not identical with myself was the cause of my behaviorâsome event wholly external to myself, for instance, or even one internal to myself, such as a nerve impulse, volition, or whatnotâthen I cannot regard that behavior as being an act of mine, unless I further believe that I was the cause of that external or internal event. My pulse, for example, is caused and regulated by certain conditions existing within me, and not by myself. I do not, accordingly, regard this activity of my body as my action, and would be no more tempted to do so if I became suddenly conscious within myself of those conditions or impulses that produce it. This behavior with which I have nothing to do, behavior that is not within my immediate control, behavior that is not only not free activity, but not even the activity of an agent to begin with; it is nothing but a mechanical reflex. Had I never learned that my very life depends on this pulse beat, I would regard it with complete indifference, as something foreign to me, like the oscillations of a clock pendulum that I idly contemplate.
(26) Now this conception of activity, and of an agent who is the cause of it, involves two rather strange metaphysical notions that are never applied elsewhere in nature. The first is that of a self or personâfor example, a manâwho is not merely a collection of things or events, but a substance and a self-moving being. For on this view it is a man himself, and not merely some
part of him or something within him, that is the cause of his own activity. Now we certainly do not know that a man is anything more than an assemblage of physical things and processes,
which act in accordance with those laws that describe the behavior of all other physical things and processes. Even though a man is a living being, of enormous complexity, there is nothing,
apart from the requirements of this theory, to suggest that his behavior is so radically different in its origin from that of other physical objects, or that an understanding of it must be sought in
some metaphysical realm wholly different from that appropriate to the understanding of non- living things. Second, this conception of activity involves an extraordinary conception of
causation, according to which an agent, which is a substance and not an event, can nevertheless be the cause of an event. Indeed, if he is a free agent then he can, on this conception, cause an event to occurânamely, some act of his ownâwithout anything else causing him to do so. This means that an agent is sometimes a cause, without being an antecedent sufficient condition; for if I affirm that I am the cause of some act of mine, then I am plainly not saying that my very existence is sufficient for its occurrence, which would be absurd. If I say that my hand causes my pencil to move, then I am saying that the motion of my hand is, under the other conditions then prevailing, sufficient for the motion of the pencil. But if I then say that I cause my hand to move, I am not saying anything remotely like this, and surely not that the motion of my self is sufficient for the motion of my arm and hand, since these are the only things about me that are moving.
(27) This conception of the causation of events by beings or substances that are not events is, in fact, so different from the usual philosophical conception of a cause that it should not even bear the same name, for "being a cause" ordinarily just means "being an antecedent sufficient condition or set of conditions." Instead, then, of speaking of agents as causing their own acts, it would perhaps be better to use another word entirely, and say, for instance, that they originate them, initiate them, or simply that they perform them. Now this is on the face of it a dubious
conception of what a man is. Yet it is consistent with our data, reflecting the presuppositions of deliberation, and appears to be the only conception that is consistent with them, as determinism and simple indeterminism are not. The theory of agency avoids the absurdities of simple indeterminism by conceding that human behavior is caused, while at the same time avoiding the difficulties of determinism by denying that every chain of causes and effects is infinite. Some such causal chains, on this view, have beginnings, and they begin with agents themselves. Moreover, if we are to suppose that it is sometimes up to me what I do, and understand this in a sense which is not consistent with determinism, we must suppose that I am an agent or a being who initiates his own actions, sometimes under conditions which do not determine what action he shall perform. Deliberation becomes, on this view, something that is not only possible but quite rational, for it does make sense to deliberate about activity that is truly my own and that depends in its outcome upon me as its author, and not merely upon something more or less esoteric that is supposed to be intimately associated with me, such as my thoughts, volitions, choices, or whatnot.
(28) One can hardly affirm such a theory of agency with complete comfort, however, and wholly without embarrassment, for the conception of men and their powers which is involved in it is
strange indeed, if not positively mysterious. In fact, one can hardly be blamed here for simply denying our data outright, rather than embracing this theory to which they do most certainly
point. Our dataâto the effect that men do sometimes deliberate before acting, and that when they do, they presuppose among other things that it is up to them what they are going to doârest upon nothing more than fairly common consent. These data might simply be illusions. It might in fact be that no man ever deliberates, but only imagines that he does, that from pure conceit he supposes himself to be the master of his behavior and the author of his acts. Spinoza has suggested that if a stone, having been thrown into the air, were suddenly to become conscious, it would suppose itself to be the source of its own motion, being then conscious of what it was doing but not aware of the real cause of its behavior. Certainly men are sometimes mistaken in believing that they are behaving as a result of choice deliberately arrived at. A man might, for example, easily imagine that his embarking upon matrimony is the result of the most careful and rational deliberation, when in fact the causes, perfectly sufficient for that behavior, might be of an entirely physiological, unconscious origin. If it is sometimes false that we deliberate and then act as the result of a decision deliberately arrived at, even when we suppose it to be true, it might always be false. No one seems able, as we have noted, to describe deliberation without metaphors, and the conception of a thing's being "within one's power" or "up to him" seems to defy analysis or definition altogether, if taken in a sense which the theory of agency appears to require.
(29) These are, then, dubitable conceptions, despite their being so well implanted in the common sense of mankind. Indeed, when we turn to the theory of fatalism, we shall find formidable metaphysical considerations which appear to rule them out altogether. Perhaps here, as elsewhere in metaphysics, we should be content with discovering difficulties, with seeing what is and what is not consistent with such convictions as we happen to have, and then drawing such satisfaction as we can from the realization that, no matter where we begin, the world is mysterious and the men who try to understand it are even more so. This realization can, with some justification, make one feel wise, even in the full realization of his ignorance.
In: Psychology
dividually students will develop a formal response to the problem(s) posed in the case, addressing the following areas within the analysis, and using the same headings. (Numbers in brackets do not necessarily correspond to length but represent the weight that will be given to each section in the grading):
There is no set length to the report, but clear, succinct and concise language and organization will be considered favourably in the grade.
Students will submit the final report as a word document through the submission link below.
The Case
You are a Senior Consultant for the professional service firm, BUSI 2083 LLP. Your firm specializes in providing a wide variety of internal business solutions for different clients. It is your final week on the job and a Manager asks you for some help prior to your departure. Eager to leaving a lasting impression, you start reading the background information provided by the Manager.
Lesley Donovan is the controller for the East division of Explorer Ltd. Jason Conner, head of plant engineering, has just left Donovanâs office after presenting three alternatives for submission in the capital expenditure budget for the fiscal year 2014. The budget is due to the CEO in two days and therefore Donovan realizes that time is of the essence.
Conner has outlined the following alternatives to replace an outdated milling machine:
Explorer Ltd. is a well-established company. The company was set up about 30 years ago by two brothers Dan and Kevin Thompson, in Huntsville, Ontario, to produce accessories for the automobile industry. The Central division continues to serve the auto industry, and is the largest division in the company with sales of $35 million annually. Danâs son is now head of this division. Kevin is still active in the company and is the Chief Executive Officer (CEO). His office is located in Toronto.
The parts division supplies seals to the mining and petrochemical industry from a plant in Toronto. This division is only ten years old and until 2010 was highly profitable. As a result of the downturn in the sector of the economy, sales in 2012 were only $12 million.
The East division, located in Scarborough, is the engineering division. Full-time employees tend to work approximately 2,000 hours in the division. Regular product lines include industrial fans, industrial cooling units, and refrigeration units for industrial users. The division is highly capital-intensive and sales tend to be directly related to general economic conditions.
Each division runs independently and performance is based upon budgeted return on investment. Bonuses are paid if the budget target is achieved. Annually, each division prepares a detailed budget submission to Kevin, outlining expected profit performance and capital expenditure requests. The milling machine proposal is part of the capital expenditure request.
The 2013 pro forma income statement for East division is set out below:
|
Sales |
$22,364,000 |
|
Cost of Goods Sold |
$14,760,240 |
|
Gross Profit |
$7,603,760 |
|
Selling and General Administrative Costs |
$3,578,760 |
|
Allocated Costs (based on sales) |
$1,677,300 |
|
Income Before Income Taxes |
$2,347,700 |
|
Return on Sales â 10.5% |
|
|
Return on Investment â 8.5% |
|
|
Investment (Historical Cost) |
$27,626,118 |
Jason Connor has pointed out to Donovan that the existing machine is not only outdated but maintenance costs are becoming prohibitive. Jason also noted that maintenance costs of new general purpose machines are only $26,000 while special purpose machines can save an additional $14,000 in maintenance. Also there would be a significant savings in insurance as the price for a general purpose machine would drop to $3,000 while a special purpose machine would be 67% higher than the general purpose machine. The machine has no market or salvage value and he is sure that its book value is now zero. The trouble is that he doesnât know which proposal is best for the company. In addition to the cost and revenue date provided, Connor provided comments on each alternative below:
|
Material and parts |
$55,000 |
|
Direct labour (DL$) |
$90,000 |
|
Variable overhead (50% of DL$) |
$45,000 |
|
Fixed overhead (25% of DL$) |
$22,500 |
|
TOTAL |
$212,500 |
General comments
The required rate of return for this investment class has been set at 8% by Kevin Thompson.
Required
Prepare the budget submission to Kevin. .
In: Finance
dividually students will develop a formal response to the problem(s) posed in the case, addressing the following areas within the analysis, and using the same headings. (Numbers in brackets do not necessarily correspond to length but represent the weight that will be given to each section in the grading):
There is no set length to the report, but clear, succinct and concise language and organization will be considered favourably in the grade.
Students will submit the final report as a word document through the submission link below.
The Case
You are a Senior Consultant for the professional service firm, BUSI 2083 LLP. Your firm specializes in providing a wide variety of internal business solutions for different clients. It is your final week on the job and a Manager asks you for some help prior to your departure. Eager to leaving a lasting impression, you start reading the background information provided by the Manager.
Lesley Donovan is the controller for the East division of Explorer Ltd. Jason Conner, head of plant engineering, has just left Donovanâs office after presenting three alternatives for submission in the capital expenditure budget for the fiscal year 2014. The budget is due to the CEO in two days and therefore Donovan realizes that time is of the essence.
Conner has outlined the following alternatives to replace an outdated milling machine:
Explorer Ltd. is a well-established company. The company was set up about 30 years ago by two brothers Dan and Kevin Thompson, in Huntsville, Ontario, to produce accessories for the automobile industry. The Central division continues to serve the auto industry, and is the largest division in the company with sales of $35 million annually. Danâs son is now head of this division. Kevin is still active in the company and is the Chief Executive Officer (CEO). His office is located in Toronto.
The parts division supplies seals to the mining and petrochemical industry from a plant in Toronto. This division is only ten years old and until 2010 was highly profitable. As a result of the downturn in the sector of the economy, sales in 2012 were only $12 million.
The East division, located in Scarborough, is the engineering division. Full-time employees tend to work approximately 2,000 hours in the division. Regular product lines include industrial fans, industrial cooling units, and refrigeration units for industrial users. The division is highly capital-intensive and sales tend to be directly related to general economic conditions.
Each division runs independently and performance is based upon budgeted return on investment. Bonuses are paid if the budget target is achieved. Annually, each division prepares a detailed budget submission to Kevin, outlining expected profit performance and capital expenditure requests. The milling machine proposal is part of the capital expenditure request.
The 2013 pro forma income statement for East division is set out below:
|
Sales |
$22,364,000 |
|
Cost of Goods Sold |
$14,760,240 |
|
Gross Profit |
$7,603,760 |
|
Selling and General Administrative Costs |
$3,578,760 |
|
Allocated Costs (based on sales) |
$1,677,300 |
|
Income Before Income Taxes |
$2,347,700 |
|
Return on Sales â 10.5% |
|
|
Return on Investment â 8.5% |
|
|
Investment (Historical Cost) |
$27,626,118 |
Jason Connor has pointed out to Donovan that the existing machine is not only outdated but maintenance costs are becoming prohibitive. Jason also noted that maintenance costs of new general purpose machines are only $26,000 while special purpose machines can save an additional $14,000 in maintenance. Also there would be a significant savings in insurance as the price for a general purpose machine would drop to $3,000 while a special purpose machine would be 67% higher than the general purpose machine. The machine has no market or salvage value and he is sure that its book value is now zero. The trouble is that he doesnât know which proposal is best for the company. In addition to the cost and revenue date provided, Connor provided comments on each alternative below:
|
Material and parts |
$55,000 |
|
Direct labour (DL$) |
$90,000 |
|
Variable overhead (50% of DL$) |
$45,000 |
|
Fixed overhead (25% of DL$) |
$22,500 |
|
TOTAL |
$212,500 |
General comments
The required rate of return for this investment class has been set at 8% by Kevin Thompson.
Required
Prepare the budget submission to Kevin. Show your answers.
In: Finance
dividually students will develop a formal response to the problem(s) posed in the case, addressing the following areas within the analysis, and using the same headings. (Numbers in brackets do not necessarily correspond to length but represent the weight that will be given to each section in the grading):
There is no set length to the report, but clear, succinct and concise language and organization will be considered favourably in the grade.
Students will submit the final report as a word document through the submission link below.
The Case
You are a Senior Consultant for the professional service firm, BUSI 2083 LLP. Your firm specializes in providing a wide variety of internal business solutions for different clients. It is your final week on the job and a Manager asks you for some help prior to your departure. Eager to leaving a lasting impression, you start reading the background information provided by the Manager.
Lesley Donovan is the controller for the East division of Explorer Ltd. Jason Conner, head of plant engineering, has just left Donovanâs office after presenting three alternatives for submission in the capital expenditure budget for the fiscal year 2014. The budget is due to the CEO in two days and therefore Donovan realizes that time is of the essence.
Conner has outlined the following alternatives to replace an outdated milling machine:
Explorer Ltd. is a well-established company. The company was set up about 30 years ago by two brothers Dan and Kevin Thompson, in Huntsville, Ontario, to produce accessories for the automobile industry. The Central division continues to serve the auto industry, and is the largest division in the company with sales of $35 million annually. Danâs son is now head of this division. Kevin is still active in the company and is the Chief Executive Officer (CEO). His office is located in Toronto.
The parts division supplies seals to the mining and petrochemical industry from a plant in Toronto. This division is only ten years old and until 2010 was highly profitable. As a result of the downturn in the sector of the economy, sales in 2012 were only $12 million.
The East division, located in Scarborough, is the engineering division. Full-time employees tend to work approximately 2,000 hours in the division. Regular product lines include industrial fans, industrial cooling units, and refrigeration units for industrial users. The division is highly capital-intensive and sales tend to be directly related to general economic conditions.
Each division runs independently and performance is based upon budgeted return on investment. Bonuses are paid if the budget target is achieved. Annually, each division prepares a detailed budget submission to Kevin, outlining expected profit performance and capital expenditure requests. The milling machine proposal is part of the capital expenditure request.
The 2013 pro forma income statement for East division is set out below:
|
Sales |
$22,364,000 |
|
Cost of Goods Sold |
$14,760,240 |
|
Gross Profit |
$7,603,760 |
|
Selling and General Administrative Costs |
$3,578,760 |
|
Allocated Costs (based on sales) |
$1,677,300 |
|
Income Before Income Taxes |
$2,347,700 |
|
Return on Sales â 10.5% |
|
|
Return on Investment â 8.5% |
|
|
Investment (Historical Cost) |
$27,626,118 |
Jason Connor has pointed out to Donovan that the existing machine is not only outdated but maintenance costs are becoming prohibitive. Jason also noted that maintenance costs of new general purpose machines are only $26,000 while special purpose machines can save an additional $14,000 in maintenance. Also there would be a significant savings in insurance as the price for a general purpose machine would drop to $3,000 while a special purpose machine would be 67% higher than the general purpose machine. The machine has no market or salvage value and he is sure that its book value is now zero. The trouble is that he doesnât know which proposal is best for the company. In addition to the cost and revenue date provided, Connor provided comments on each alternative below:
|
Material and parts |
$55,000 |
|
Direct labour (DL$) |
$90,000 |
|
Variable overhead (50% of DL$) |
$45,000 |
|
Fixed overhead (25% of DL$) |
$22,500 |
|
TOTAL |
$212,500 |
General comments
The required rate of return for this investment class has been set at 8% by Kevin Thompson.
Required
Prepare the budget submission to Kevin. Show your answers.
In: Finance
dividually students will develop a formal response to the problem(s) posed in the case, addressing the following areas within the analysis, and using the same headings. (Numbers in brackets do not necessarily correspond to length but represent the weight that will be given to each section in the grading):
There is no set length to the report, but clear, succinct and concise language and organization will be considered favourably in the grade.
Students will submit the final report as a word document through the submission link below.
The Case
You are a Senior Consultant for the professional service firm, BUSI 2083 LLP. Your firm specializes in providing a wide variety of internal business solutions for different clients. It is your final week on the job and a Manager asks you for some help prior to your departure. Eager to leaving a lasting impression, you start reading the background information provided by the Manager.
Lesley Donovan is the controller for the East division of Explorer Ltd. Jason Conner, head of plant engineering, has just left Donovanâs office after presenting three alternatives for submission in the capital expenditure budget for the fiscal year 2014. The budget is due to the CEO in two days and therefore Donovan realizes that time is of the essence.
Conner has outlined the following alternatives to replace an outdated milling machine:
Explorer Ltd. is a well-established company. The company was set up about 30 years ago by two brothers Dan and Kevin Thompson, in Huntsville, Ontario, to produce accessories for the automobile industry. The Central division continues to serve the auto industry, and is the largest division in the company with sales of $35 million annually. Danâs son is now head of this division. Kevin is still active in the company and is the Chief Executive Officer (CEO). His office is located in Toronto.
The parts division supplies seals to the mining and petrochemical industry from a plant in Toronto. This division is only ten years old and until 2010 was highly profitable. As a result of the downturn in the sector of the economy, sales in 2012 were only $12 million.
The East division, located in Scarborough, is the engineering division. Full-time employees tend to work approximately 2,000 hours in the division. Regular product lines include industrial fans, industrial cooling units, and refrigeration units for industrial users. The division is highly capital-intensive and sales tend to be directly related to general economic conditions.
Each division runs independently and performance is based upon budgeted return on investment. Bonuses are paid if the budget target is achieved. Annually, each division prepares a detailed budget submission to Kevin, outlining expected profit performance and capital expenditure requests. The milling machine proposal is part of the capital expenditure request.
The 2013 pro forma income statement for East division is set out below:
|
Sales |
$22,364,000 |
|
Cost of Goods Sold |
$14,760,240 |
|
Gross Profit |
$7,603,760 |
|
Selling and General Administrative Costs |
$3,578,760 |
|
Allocated Costs (based on sales) |
$1,677,300 |
|
Income Before Income Taxes |
$2,347,700 |
|
Return on Sales â 10.5% |
|
|
Return on Investment â 8.5% |
|
|
Investment (Historical Cost) |
$27,626,118 |
Jason Connor has pointed out to Donovan that the existing machine is not only outdated but maintenance costs are becoming prohibitive. Jason also noted that maintenance costs of new general purpose machines are only $26,000 while special purpose machines can save an additional $14,000 in maintenance. Also there would be a significant savings in insurance as the price for a general purpose machine would drop to $3,000 while a special purpose machine would be 67% higher than the general purpose machine. The machine has no market or salvage value and he is sure that its book value is now zero. The trouble is that he doesnât know which proposal is best for the company. In addition to the cost and revenue date provided, Connor provided comments on each alternative below:
|
Material and parts |
$55,000 |
|
Direct labour (DL$) |
$90,000 |
|
Variable overhead (50% of DL$) |
$45,000 |
|
Fixed overhead (25% of DL$) |
$22,500 |
|
TOTAL |
$212,500 |
General comments
The required rate of return for this investment class has been set at 8% by Kevin Thompson.
Required
Prepare the budget submission to Kevin. .
In: Finance
Read the following passage, the speech by Pope Urban II calling for a crusade, and then answer the following questions:
â
- What is the reason for this crusade in his words and is therefore, what animated nearly 100,000 to cross Europe to take up arms.
â
-What is offered in return for action to those who follow the cross.
- Why would this be enough to sell off all you own, leave your families, and head off to possible death?
On November 27, 1095, Pope Urban II makes perhaps the most influential speech of the Middle Ages (Links to an external site.), giving rise to the Crusades (Links to an external site.) by calling all Christians in Europe to war against Muslims in order to reclaim the Holy Land, with a cry of âDeus vult!â or âGod wills it!â
â
Oh, race of Franks, race from across the mountains, race chosen and beloved by God as shines forth in very many of your works set apart from all nations by the situation of your country, as well as by your catholic faith and the honor of the holy church! To you our discourse is addressed and for you our exhortation is intended. We wish you to know what a grievous cause has led us to Your country, what peril threatening you and all the faithful has brought us.
From the confines of Jerusalem and the city of Constantinople a horrible tale has gone forth and very frequently has been brought to our ears, namely, that a race from the kingdom of the Persians, an accursed race, a race utterly alienated from God, a generation forsooth which has not directed its heart and has not entrusted its spirit to God, has invaded the lands of those Christians and has depopulated them by the sword, pillage and fire; it has led away a part of the captives into its own country, and a part it has destroyed by cruel tortures; it has either entirely destroyed the churches of God or appropriated them for the rites of its own religion. They destroy the altars, after having defiled them with their uncleanness. They circumcise the Christians, and the blood of the circumcision they either spread upon the altars or pour into the vases of the baptismal font. When they wish to torture people by a base death, they perforate their navels, and dragging forth the extremity of the intestines, bind it to a stake; then with flogging they lead the victim around until the viscera having gushed forth the victim falls prostrate upon the ground. Others they bind to a post and pierce with arrows. Others they compel to extend their necks and then, attacking them with naked swords, attempt to cut through the neck with a single blow. What shall I say of the abominable rape of the women? To speak of it is worse than to be silent. The kingdom of the Greeks is now dismembered by them and deprived of territory so vast in extent that it cannot be traversed in a march of two months. On whom therefore is the labor of avenging these wrongs and of recovering this territory incumbent, if not upon you? You, upon whom above other nations God has conferred remarkable glory in arms, great courage, bodily activity, and strength to humble the hairy scalp of those who resist you.
â
Let the deeds of your ancestors move you and incite your minds to manly achievements; the glory and greatness of king Charles the Great, and of his son Louis, and of your other kings, who have destroyed the kingdoms of the pagans, and have extended in these lands the territory of the holy church. Let the holy sepulcher of the Lord our Savior, which is possessed by unclean nations, especially incite you, and the holy places which are now treated with ignominy and irreverently polluted with their filthiness. Oh, most valiant soldiers and descendants of invincible ancestors, be not degenerate, but recall the valor of your progenitors.
But if you are hindered by love of children, parents and wives, remember what the Lord says in the Gospel, "He that loveth father or mother more than me, is not worthy of me." "Every one that hath forsaken houses, or brethren, or sisters, or father, or mother, or wife, or children, or lands for my name's sake shall receive an hundredfold and shall inherit everlasting life." Let none of your possessions detain you, no solicitude for your family affairs, since this land which you inhabit, shut in on all sides by the seas and surrounded by the mountain peaks, is too narrow for your large population; nor does it abound in wealth; and it furnishes scarcely food enough for its cultivators. Hence it is that you murder one another, that you wage war, and that frequently you perish by mutual wounds. Let therefore hatred depart from among you, let your quarrels end, let wars cease, and let all dissensions and controversies slumber. Enter upon the road to the Holy Sepulcher; wrest that land from the wicked race, and subject it to yourselves. That land which as the Scripture says "floweth with milk and honey," was given by God into the possession of the children of Israel Jerusalem is the navel of the world; the land is fruitful above others, like another paradise of delights. This the Redeemer of the human race has made illustrious by His advent, has beautified by residence, has consecrated by suffering, has redeemed by death, has glorified by burial. This royal city, therefore, situated at the centre of the world, is now held captive by His enemies, and is in subjection to those who do not know God, to the worship of the heathens. She seeks therefore and desires to be liberated, and does not cease to implore you to come to her aid. From you especially she asks succor, because, as we have already said, God has conferred upon you above all nations great glory in arms. Accordingly undertake this journey for the remission of your sins, with the assurance of the imperishable glory of the kingdom of heaven.
When Pope Urban had said these and very many similar things in his urbane discourse, he so influenced to one purpose the desires of all who were present, that they cried out, "It is the will of God! It is the will of God!" When the venerable Roman pontiff heard that, with eyes uplifted to heaven he gave thanks to God and, with his hand commanding silence, said:
â
Most beloved brethren, today is manifest in you what the Lord says in the Gospel, "Where two or three are gathered together in my name there am I in the midst of them." Unless the Lord God had been present in your spirits, all of you would not have uttered the same cry. For, although the cry issued from numerous mouths, yet the origin of the cry was one. Therefore I say to you that God, who implanted this in your breasts, has drawn it forth from you. Let this then be your war-cry in combats, because this word is given to you by God. When an armed attack is made upon the enemy, let this one cry be raised by all the soldiers of God: It is the will of God! It is the will of God!
â
And we do not command or advise that the old or feeble, or those unfit for bearing arms, undertake this journey; nor ought women to set out at all, without their husbands or brothers or legal guardians. For such are more of a hindrance than aid, more of a burden than advantage. Let the rich aid the needy; and according to their wealth, let them take with them experienced soldiers. The priests and clerks of any order are not to go without the consent of their bishop; for this journey would profit them nothing if they went without permission of these. Also, it is not fitting that laymen should enter upon the pilgrimage without the blessing of their priests.
Whoever, therefore, shall determine upon this holy pilgrimage and shall make his vow to God to that effect and shall offer himself to Him as a, living sacrifice, holy, acceptable unto God, shall wear the sign of the cross of the Lord on his forehead or on his breast. When,' truly',' having fulfilled his vow be wishes to return, let him place the cross on his back between his shoulders. Such, indeed, by the twofold action will fulfill the precept of the Lord, as He commands in the Gospel, "He that taketh not his cross and followeth after me, is not worthy of me."
â
Source: Dana C. Munro, "Urban and the Crusaders", Translations and Reprints from the Original Sources of European History, Vol 1:2, (Philadelphia: University of Pennsylvania, 1895), 5-8
In: Psychology
The Cyberattack on Ukraine
After Russia annexed Crimea from Ukraine in 2014, authorities started nationalizing Ukrainian-owned energy companies in Crimea. In late 2015, Ukrainian supporters physically attacked electrical power distribution centers, plunging two million Crimeans in the dark.
Each of Ukraine's 24 regions is served by a different electric company. On December 23, 2015, the Ukrainian power grid experienced a cyberattack. The activists simultaneously attacked three power distribution substations, cutting power to some 230,000 Ukrainians.
The multistage, targeted cyberattack actually started in the spring of 2015. Let's take a look at how the cyberattack unfolded.
The Spear-Phishing Attack. In the first stage, the attackers launched a spear-phishing attack on IT staff and system administrators at three of the power distribution companies in Ukraine. The attack sent e-mails to employees that contained a malicious Word file. If an employee clicked on the document, a popup window told them to enable macros for that file. If they did so, a malicious software program named BlackEnergy3 infected their computers and allowed the hackers entry into their system.
Reconnaissance. The spear-phishing attack allowed the intruders to access the power distribution companies' corporate networks. However, the intruders still had to gain access to the supervisory control and data acquisition (SCADA) networks that actually operated the power grid, but the power companies had competently separated those networks from corporate networks with a firewall. Therefore, the attackers had to search the corporate networks and gain entry to the Windows Domain Controllers. From there, the hackers gathered employee login credentials from the user accounts. Some of these login credentials were used by employees to access virtual private networks (VPNs) to remotely log in to the SCADA network. The attackers now had access to the SCADA networks.
Disabling the uninterruptible power supply. The attackers now rejigged the supply of uninterruptible power to the three systems' control centers. They wanted to cut power to the operators as well as the customers.
Disabling the converters. The attackers then coded malicious software to supersede the actual software on converters at power company substation control systems. (These converters handle data from the SCADA network to the substations.) Disabling the converters stopped employees from transmitting remote commands to reestablish power after it was cut. The converters could not work and could not be recovered. This situation meant that the power companies could not recover until they obtained new converters and incorporated them into the power system. (Note: Power companies in the United States use the same type of converters as those used in Ukraine.)
Denial-of-service attack. The attackers now targeted customer call centers, initiating a telephone denial-of-service attack. That meant that customers could not call in to report the blackout when it occurred. The attack jammed up the distribution centers' call centers with thousands of false calls, blocking actual customers from getting through. This denial-of-service attack allowed the attackers more time to work on their attack because not only were substation employees seeing false information on their hijacked computers, but they were receiving no phone calls reporting power outages.
Causing the blackout. On December 23, the attackers used the commandeered VPNs to access the SCADA networks and deactivate the uninterruptible power supply that they had already reconfigured. Then they removed substations from the power grid.
Deploying KillDisk. Lastly, the attackers deployed software called KillDisk to complete their path of destruction. KillDisk deletes or overwrites essential system files from operators' computers to disable them as well. Because KillDisk also wipes the master boot file, operators could not reboot the crashed computers.
About half the homes in Ukraine's Ivano-Frankivsk region lost power. The cybercriminals also simultaneously attacked a large mining company and a major railway. The incidents seem to have been politically motivated, meant to disable Ukrainian critical infrastructure in a strike, according to security analysts at Trend Micro (www.trendmicro.com).
Homes and businesses in the impacted areas only lost power from one to six hours. However, more than two months later, the control centers were still not completely back online. Electricity was still being delivered, but employees had to manually operate the power substations.
The attack caused only digital damage; if the substations had been physically damaged, it would have taken much longer to restore power. In 2007, the U.S. government showed how criminals could remotely destroy a power generator through a SCADA attack with just 21 lines of malicious code.
Infrastructure personnel can learn many lessons from the attack. Ukraine's power generation control systems were unexpectedly more robust than some in the United States. The reason is that the Ukrainian SCADA networks were separated from the business networks with excellent firewalls. However, the Ukrainian control systems still had security weaknesses. For example, employees remotely accessing the SCADA network were not prompted to use two-factor authentication, which enabled the hackers to steal login information and gain entry to the SCADA systems.
Another lesson is that in the United States many power systems lack manual backups. That is, if criminals were to attack automated SCADA systems in the United States, it would be much more difficult to bring the grid back online.
This first-ever successful attack of a power grid's computers is a dire safety warning for other such systems across the world. Experts in industrial control systems at the Sans Institute (www.sans.org) say the hack of the Ukrainian power grid was the first time that cybercriminals have managed to directly bring down a power grid.
In December 2016, Ukraine was attacked again. Reports alleged that a group of Russians attacked computers at a control center of a power supplier in Kiev. The attackers apparently used phishing attacks on workers, enabling the intruders to grab login information and disable substations. The shutdown affected some 20 percent of Kiev's nighttime electrical use.
Sources: Compiled from J. Condliffe, âUkraine's Power Grid Gets Hacked Again, a Worrying Sign for Infrastructure Attacks,â MIT Technology Review, December 22, 2016; E. Markowitz, âAfter Ukraine Cyberattacks, FBI and DHS Urge U.S. Power Companies to Develop Better Safety Protocols,â International Business Times, April 21, 2016; âFBI, DHS Issue Warning about Increasing Cyber Threat to Nation's Power Grid after Downplaying It in January,â Cyberwar.news, April 12, 2016; B. Gertz, âFBI Warns of Cyber Threat to Electric Grid,â The Washington Free Beacon, April 8, 2016; K. Zetter, âInside the Cunning, Unprecedented Hack of Ukraine's Power Grid,â Wired, March 3, 2016; D. Voltz, âU.S. Government Concludes Cyber Attack Caused Ukraine Power Outage,â Reuters, February 25, 2016; W. Ashford, âUkraine Cyber Attacks Beyond Power Companies, Says Trend Micro,â Computer Weekly, February 12, 2016; J. Robertson and M. Riley, âHow Hackers Took Down a Power Grid,â Bloomberg BusinessWeek, January 14, 2016; M. Heller, âRussian Actors Accused of Attacking Ukraine with BlackEnergy Malware,â TechTarget, January 4, 2016; D. Goodin, âFirst Known Hacker-Caused Power Outage Signals Troubling Escalation,â Ars Technica, January 4, 2016; J. Cox, âMalware Found Inside Downed Ukrainian Grid Management Points to Cyberattack,â Motherboard, January 4, 2016.
In: Operations Management
case study:
Spanx Inc.: Growth Dilemma for a Shapewear Leader
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Arpita Agnihotn and Saurabh Bhattacharya wrote this case solely to provide material for class discussion. The authors do nat intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised certain names and other identifying information to protect confidentiality. This publication may not be transmitted, photocopied, digitized, or otherwise reproduced in any form or by any means without the permission of the copyright holder Reproduction of this matenal is not covered under authorization by any reproduction rights organization. To order copies or request permission to reproduce materials, contact Ivey Publishing, lvey Business School, Westem University, London, Ontario, Canada, N6G ON1, (ty 519.661.3208, (e) cases@ivey ca; wwww.iveycases.com?
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Founded in 2000 in Atlanta, Georgia, United States, by Sara Blakely, Spanx Inc. (Spanx) had been, since its inception, a pioneer and market leader in the body-shaping hosiery and intimate apparel segment known as shapewear. Spanx shapewear was lightweight and comfortable, unlike traditional girdles and pantyhose. From Blakely's initial investment of only USS5.000, sales of Spanx quickly accelerated, reaching $250 million by 2012 and $400 million by the end of 2016. In March 2012. Forbes magazine named Blakely the world's youngest, self-made female billionaire. In the same year, Time magazine listed her among the world's 100 most influential people.
Spanx, apart from being the market leader, also became synonymous with shapewear. However, in 2012. doctors revealed several health problems associated with shapewear. Changes in cultural currents also meant that women were less interested in using shapewear to create an ideal body shape, New product categories, such as athleisure wear and activewear, were also launched by companies such as lululemon athletica Inc. and Nike Inc. These clothes were more comfortable to wear, and unlike Spanx, they could be worn on a daily basis.
Despite Spanx's market leadership position in shapewear, by 2015. the company's shapew was being ear perceived as a "tummy-tucking" commodity rather than a fashion statement. To combat these challenges. from 2015 onward, Spanx initiated a rebranding drive for shapewear and diversified into other fast-growing product categories such as athletic wear. Blakely's entrepreneurial spirit led to her being invited to appear as a motivational speaker on television shows such as Shark Tank. In May 2017. Forbes estimated that Blakely was worth S billion." However, would Spanx be able to manage sustainable growth in the product category it had created? Did Spanx need to be rebranded? Would its product diversification strategy pay off? What should Spanx have done to keep its momentum of growth moving against competitors?
BACKGROUND
The idea for Spanx struck Blakely in 1998, when she was getting ready for a party and realized she lacked the right underwear to provide a smooth look under her white pants. She cut the feet out of her panty hose, and hence the idea of footless pantyhose was born.10 Blakely also observed that other womenoften complained about the discomfort of pantyhose, which covered them from foot to waist." As a result, Blakely knew that demand for her product existed and she was ready to take the opportunity.
The core mission of Spanx was "To help women feel great about themselves and their poential,"" Before akely had sold fax machines, and she was sure that she would be able to sell her starting Spanx pantyhose as well." She started her business in one of her spare bedrooms, without any ernal financial help. Blakely explained, "Nobody gave me any money and I also really didn't understand that Iventure capitall world," further adding, "I did not understand how people raise money. know anything about the undergarment industry.
She worked during the day a a salesperson and spent her evenings at the Georgia Tech Library in Atlanta, Georgia, researching pantyhose patents after lawyers refused to file patents for her, having found her idea unusual. Finally. Blakely wrote the patents herself. She had also worked as a stand-up comedian, and that skill taught her that the letter "k" makes people laugh. Also. wellknown brand names at that time, such as the Eastman Kodak Company and Coca-Cola. contained the sound k. Thus, she decided that the company's brand name should include a prominent "k" sound. Furthermore, Blakely's research showed that constructed words were more attention-catching. and she therefore replaced the "ks" in the word "spanks" with an "x maintaining the same pronunciation but with an invented spelling.
her next challenge was to find a manufacturer of hosiery products; she had developed excellent sales. which helped her as she began contacting several hosiery manufacturers. Blakely mentioned, "I couldn't help but think of the days when my job was to cold call people in Clearwater to try and sell them fax machines and how many of them said "No, no, no.
However, just as lawyers had been skeptical about her patent, manufacturers were skeptical about making her product. However, Blakely did not shy away from asking for help:
â I used a lot of very confident, very powerful language, but l also asked for help. If you covered up your weaknesses, I thought you missed opportunities for human nature to want to kick in. At the end of the day, the guy [manufacturerl ended up just wanting to help me. He didn't even believe in the idea.â
Finally, Blakely found a manufacturer and after a year's effort to find appropriate knitting technology, she developed a prototype. Blakely's panty hose differed from traditional pantyhose in several ways. First with her pantyhose, cellulite was not visible. Second, it did not have rubber cords in the waistbands, but waistbands that were comfortably sized. Similarly. even leg bands were absent, eliminating thigh bulge. The Spanx prototype had a cotton gusset, which provided cool wearability. instead of the typical polyester gusset. Lastly, unlike traditional pantyhose, these pantyhose did not crease the skin at the ankle. Blakely decided to call this product Footless Bodyshaping Pantyhose, which later became synonymous with the product category shapewear.
SHAPEWEAR MARKET POTENTIAL
Shape wear had been in demand as women experienced conflicts between their actual body shape a current cultural ideals Early forms of shapewear included girdles (woven garments similar to wide belts) and corsets. Between the 1920s and 1960s. many women considered wearing these garments to be essential. Corsets were used to shape the body. through a squeezing effect. sometimes reducing the waist to as little as 20 inches (50 centimetres). Consequently. corsets at times resulted in broken ribs or a reduced ability to breathe fully Gradually. corsets were replaced with control garments or control pantyhose, which adapted the concept of the corset. smoothing bulges and bumps in the abdominal area. Because of advancements in fabric technology. demand for shapewear remained h when Spanx launched its pantyhose featuring advanced fabric. which provided more comfort, hid undergarment linings, and offered the benefits of a shapewear product.
PACKAGING
To differentiate from its competitors, Spanx packaging was brightly coloured (such as cherry red): in contrast, competitors' packaging tended to be neutrally coloured and featured images of women extending their legs. A graphic designer was employed to create images unlike those on traditional hosiery packages, such as illustrations of three women. who were fully clothed and showed the various advantages of wearing pantyhose under skirts or pants. Again, Blakely used her sales skills and comedic wit to make packaging more interesting. adorning packages with cartoons and funny captions such as "When you think everyone's looking at your train but they're really looking at your caboose," or "Don't worry, we have got your butt covered. Even the branding of Spanx products was unique and humorous: products were given such names as Bra elujah and Tight-End Tights. PROMOTING SPANX Advertisement through any channel-print, television, or radio was not an option for Blakely due to budget constraints. During Sp start-up days, word of mouth, not an advertising strategy, was a necessity. At first, Blakely stimulated artificial demand by asking her friends to purchase Spanx. later sending them reimbursement cheques She even stood in stores for hours to sell each pair herself because Spanx products were placed in obscure corners of retailers' shelves. She specifically stated. "I learned very quickly that my biggest challenge was location of the store ISpanx werel put in the sleepiest corner. Irealized. "This is going to come here and leave ifI don't personally intervene, even if i have to sell every pair myself." And that's basically what I did.
Next, to further stimulate sales. Blakely decided to target celebrities in the hopes of receiving their free endorsements. She sent a basket of Spanx products to Oprah Winfrey's television program and explained her products. The products aught Oprah's attention, and she named Span her product of the ear. In fact, Hollywood celebrity Gwyneth Paltrow publicly thanked Blakely for Spanx, claiming that Spanx made her post-baby body look better. This free publicity spurred Blakely's career. By 2003. she had become well-known among Hollywood celebrities, who started using Spanx under their Oscar gowns. By 2012. she became an international figure when Time magazine identified her as one of the world's most influential people.
Even as of 2017. Spanx did not employ any type of advertisement. As the former chief executive officer (CEO) Laurie Ann Goldman mentioned in 2012, despite the company's ability to afford any billboard in Times Square, it never publicized Spanx products. Instead, Spanx promoted a philosophy of woman to woman" advice, especially relevant in the era of social media. As Goldman affirmed:
â The power of women discovering the brand from other women was actually a better strategy. The aunt telling her niece: one woman to a college friend. There's something about saying. "Look, feel my back, no lines" that's powerful. Look at how big social media has become now. People trust advice.
Spanx thus relied on word-of-mouth marketing by it believed that woman-to-woman communication over social media would be much more powerful than paid advertising.
Similarly, Blakely decided to engage in public relations on her own; she was confident about the product and did not feel any need to hire an external agency. She stated. "I believed so much in my dream that the idea of someone pitching it who maybe hadn't even worn Spanx just completely freaked me out. So, I decided to try the public relations myself for a while But as her business grew, a public relations manager was appointed to oversee not only press coverage and media relations but also celebrity relationship management. Further, Spanx began offering several sales promotions for consumers. especially for online shopping, such as discounts with coupons or promotion codes or free shipping when buying through selected retailers. At times, the discounts offered by the company were as high as 70 per cent of the product price.
SPANX'S GROWTH STRATEGY
The cornerstone of Spanx's strategy was innovation. By 2010. Spanx started manufacturing undergarments r men under the label Manx.. Spanx continued adding product lines and variants, and by 2014. the company was selling more than 200 products. fuelling its growth (see Exhibit I) The innovations in the shapewear market had resulted, in part, from abrupt changes in fabric technology and garment design.
Spanx products were sold under different brand names, including Bod a Bing and Hide and Sleek. The company's four most well-known brands were ASSETS, Spanx, Starpower, and the Red Hot label. Spanx offered a range of compression options in a variety of products, such as tights, full slips, half slips, and camisoles, in addition to other hosiery-based products, such as knee-highs. stockings, and socks.
Industry experts noted that as a part of the company's strategic rollout, it was vital for Spanx to have its own independent stores for two reasons: to eliminate the need to fight for space in department stores and to be able to test new product launches easily and effectively, Thus, by 2012, Blakely started launching stand-alone Spanx stores in shopping malls. The first stand-alone outlet was launched in Washington, D.C., with the intent of later extending stores into Pennsylvania and New Jersey. The objective for these stores was to better connect with customers. Blakely trained the sales staff on all the product lines so that they could provide in-person guidance to help customers select the right garments to match their clothing.
Spanx valued innovation, risk-taking, and optimism across all departments, the inculcating leadership values and accountability among a employees. Furthermore, Spanx hired most of its employees through referrals from fashion, health, and beauty companies, which ensured a high level ofexpertise. By 2013. Spanx had 112 employees across all its locations, eight times more than in 2010.
SPANX'S COMPETITORS
In the shapewear product category. Spanx's several competitors had distinctive competitive advantages. Leonisa. for instance, provided flexibility to women by adjusting the level of control required. A Chery was yet another competitor in the shapewear category, which was voted most preferred shapewear in 2015 Your Contour specialized in arm-shaping shapewear. Apart from these specialty competitors, players from other apparel product categories had ventured into the ear category. including shapew Wacoal, Hanes, and Under Armour. Overall, in the hosiery sector globally (see Exhibit 2). Spanx had a market share of 2.06 per cent as of2016.
CHANGES IN THE SOCIOLOGICAL ENVIRONMENT
Both shapewear and compression wear belonged to the intimate apparel segment. According t a 2013. female body weight across the globe was increasing including in countries Euromonitor report in in Eastern Europe, Western Europe, and North America. However, fashion and beauty magazines continued to promote and idolize celebrities. focusing especially o their appearance and weight loss. Partly due to the influence of such magazines. women bought hosiery products such as shapewear. and consequently, the U.S. shapewear market reached its peak in 2010, with record sales of S850 million.
But women gradually started developing concerns about the health effects of tight clothing products such Spanx. According to doctors, products such as Spanx could lead to meralgia paresthetica (a burning sensation as a result of excessive pressure on nerves) or disease due to excessive pressure on the abdomen." The fashion world also shifted its beauty ideals. In France, excessively thin models were banned, while in the United States, Victoria's Secret launched more lingerie in plus sizes. In response to such concems, companies emerged with new clothing that addressed different concerns for example, promising reductions in cellulite or anti-aging properties, releasing sunscreen, or masking odour with fragrance. These concems negatively affected the North American shapewear market. which declined to $678 million by 2015.
Spanx was challenged not only by the intimate apparel or hosiery sector but also by other apparel sectors. While the overall apparel market in North America grew by 2 per cent in 2015. activewear (i.e.. casual clothing meant for exercise and general wear, such as yoga pants or leggings) grew by 16 per cent in 2015 Growth was mainly derived from millennials in the United States, which represented 28 per cent of the U.S population. Their increased health consciousness and informal workplace culture increased the popularity o functional but less fashionable clothing such as activewear." Moreover, activewear products also provided the benefit of a slim fit, which further enticed consumers to shift from uncomfortable, tight shapewear products to stretchable, yet slim-fitting activewear products." As customers switched to new activewear products, fewer new customers tried shapewear due to the discomfort associated with it. The attractiveness f the activewear market could be gauged from entries into this market by large sportswear companies such as Under Armour and retailers such as Walmart (see Exhibit 3)
Critics had labelled shapewear an obsolete product. For the period 2014-2022, the shapewear category was projected to grow in international markets to a value reaching S5.58 billion; however, this estimate was much lower than estimates for new product categories such as activewear. The global activewear mark was growing, on average, 5.52 per cent year-on-year and was expected to reach a value of S365 billion by 2020 (see Exhibit 4)
Nevertheless, the shapewear category found a place among a new segment of consumers. young teenagers instead of adult women. Shapewear became more popular among teenaged girls between the ages o 5 years. Wearing Spanx became so popular among teens that they wore the product for every occasion. ranging from the classroom to the sports field. Thus, wearing Spanx became a trend among teenagers to such an extent that they wore these products irrespective of their weight. Everyone, ranging from thin athletes to healthy teenage girls. began wearing Spanx and other shapewear
SPANX S RESPONSE TO CHALLENGES
Repositioning Spanx
Spanx was originally worn by women for special occasions, such as wedding or parties. When Jan Singer was the CEO of Spanx, she realized that consumer preference had been changing since 2015. and she decided to reposition Spanx from occasional wear" to "everyday wear To achieve this repositioning. Spanx launched a new Power Series line, consisting of high waisted panties and shorts. which slightly smoothed body shape while retaining the wearer's true form. These products were lightweight and more comfortable. The entire product range was repackaged and reformulated to indicate higher performance. comfort, and aesthetics. Packaging was printed with the slogan, "Reshape the way you get dressed, so you can shape the world to reflect feminist inspiration. Furthermore, to establish a stronger connection with the founder of Spanx, the Power Series packaging featured Blakely's signature. Critics, however, believed that the Spanx's repositioning efforts were incomplete because its website still promoted the theme of "the thinner, the better," even selling products such as Power Mama hosiery to accommodate pregnant women. and Spanx's traditional products, such as high-waisted shorts and body suits, remained prominent.
The repositioning efforts were company-wide: senior management restructuring also took place under Singer's regime, with the objective of increasing customer focus. To explain her restructuring effort. Singer stated, "The eye on the consumer was really missing and Spanx needed to get back into deeply understanding the consumer. Furthermore, the market research agency Kramer Group was hired as part of a rebranding effort, which helped in restructuring the Spanx store format, packaging. and even communication. The Kramer Group suggested that Spanx needed to enhance its fashion appeal, while retaining the authenticity of the brand, the new repositioning theme and of everyday wear needed to be consistent across social media, retail and digital media.
Entering the Apparel Segment
Given the potential of the activewear market. Spanx extended its product line to incorporate activewear eggings in 2014: however, online reviews indicated that Spanx was not on par with competitors in terms of sales. For instance, until September 2017. its competitor Zella had received a total of 3,905 online reviews on Nordstrom.com variants of leggings, while Spanx received a total of 617 reviews. Furthermore. none of Spanx's legging varieties received five-star ratings from consumers. in contrast to Zella, which received five-star ratings for several of its products. A whereas competitors such as Zella provided 89 legging variants. Spanx provided only 14.
In the apparel segment, Spanx also entered the denim jeans market. However, in contrast to the activewear segment, the denim industry was struggling, due to poor fit, performance, and price problems. It was market share in its core markets, Europe and North America, although the burgeoning middle-class consumers from other countries, such as India and China, supported its growth to some extent.
Seeing potential in the denim jean market, Spanx diversified into this sector in 2014. Spanx pioneered the launch of the first denim shapewear to compete an existing denim jeans. Spanx denim was different from that of its competitors: it triple-thread technology, used which involved extra stretchable yarn, hereby rendering a body-contouring fit. nvolved other patent-pending shaping features and also offered shaping waistbands for additional slimming. However, fashion critics did not seem to find Spanx s revolutionary, but viewed them as just another option in a sea of denim.
PHILANTHROPY
In 2013. Blakely joined the Giving Pledge campaign, which committed her to donating half o philanthropic endeavours." She was in fact, the first women billionaire to join the foundation led by Warren Buffet and Melinda and Bill Gates She also founded the Sara Blakely Foundation in 2006. which supported organizations such as Grameen America. Malala Fund, the Empowerment Plan, and more. Her objective was to contribute toward women's empowerment and welfare through philanthropy. and she contributed approximately S24 million to these foundations. Despite the potential competitive threat from new start-ups, she also created a platform known as the Leg Up initiative to provide telephone consultation and funding to future women entrepreneurs. Similarly, she started the Belly Art Project to make pregnancy and childbirth safe for women in need.
CHALLENGES AND THE ROAD AHEAD
Whereas 50 per cent of start-ups in the United States fail in the first five years, Blakely's Spanx was not only successful in its home country but also created an international market for her products. With 12.000 distribution outlets across 50 countries, Spanx was a brand synonymous with the shapewear product category. Spanx had a high profile and dedicated customer base, the only undergarment that received joyful shout-outs from the red carpet at award shows, Public acclamations by celebrities such as "I am triple Spanx-ed tonight!" were common.
A market leader in the shapewear category by 2016, Spanx became a S400 million private company with 00 per cent ownership by Blakely. Furthermore, although she did not intend to take the company public, she did plan to launch many new product lines, stating, "Before I retire. I want to make a comfortable high heel. I don't subscribe to the beauty is pain philosophy. She also commented. "I was inspired to move into all categories of fashion eventually because there was so much opportunity to make things more comfortable, fit better, [and] feel better. n March 2017. Spanx launched a bridal lingerie range. Although Spanx continued to innovate, several challenges did remain.
Spanx also experienced its own set of problems in-company. Former S CEO Singer, within two years of her tenure, joined the company's rival Victoria's Secret in 2017. Similar challenges arose when current employees posted negative reviews on job websites such as glassdoor.com about working with Spanx. Due to dissatisfaction, employee tumover also increased throughout 2017.
Furthermore, the glamour of shapewear was declining. As one critic commented, "The game was changed, the rules were changed, and the playing field was changed, and Spanx j didn't have the marquee brand power they had before. Although the product category was expected to grow in international markets with a value reaching S5.58 billion, it was nevertheless much lower than projected growth for new product categories such as activewear.
In the midst of these challenges, would Spanx be able to maintain its position in the market? Since 2015 Spanx had been trying to respond to challenges through rebranding or entering different core product segments, but was this strategy sustainable in the long run? As big players entered the shapewear and other apparel markets, how would Spanx withstand competition and sustain future growth?
Questions: (the answer must be simple and much easier)
1) Was it strategically appropriate for Spanx to diversify from its core product (i.e., shapewear) to unrelated products (i.e., jeans and activewear)? Is this diversification strategy likely to pay off in the long run?
2) What is the optimal growth strategy should Spanx follow to sustain its market position in the future?
In: Operations Management
I'm have trouble change JRadioButton and do not want to select all at the same time just one at a time. if one of them is unselected, then set the font as plain. Set font size as 20.
run the program and change the font and you see what I'm talking about
also this there anyway to shorten my code
import java.awt.BorderLayout;
import java.awt.Color;
import java.awt.Desktop;
import java.awt.Font;
import java.awt.event.*;
import java.net.URL;
import java.io.BufferedReader;
import java.io.BufferedWriter;
import java.io.FileReader;
import java.io.FileWriter;
import javax.swing.JCheckBox;
import javax.swing.JColorChooser;
import javax.swing.JFileChooser;
import javax.swing.JFrame;
import javax.swing.JMenu;
import javax.swing.JMenuBar;
import javax.swing.JMenuItem;
import javax.swing.JOptionPane;
import javax.swing.JRadioButton;
import javax.swing.JScrollPane;
import javax.swing.JTextArea;
import javax.swing.KeyStroke;
//MyMenuFrame will use Jframe with actionlistener
public class MyMenuFrame extends JFrame implements
ActionListener{
//creating the main menu items
JMenu menuEdit = new JMenu("Edit");
JMenu menuPrint = new JMenu("Print");
JMenu mnFile = new JMenu("File");
JMenu menuHelp = new JMenu("Help");
//creating the submenu items here because we are gonna use these
across the code
JRadioButton subMenuItem1 = new JRadioButton("Times New
Roman");
JRadioButton subMenuItem2 = new JRadioButton("Arial");
JRadioButton subMenuItem3 = new JRadioButton("Serif");
JCheckBox subMenuItem4 = new JCheckBox("Bold");
JCheckBox subMenuItem5 = new JCheckBox("Italic");
//provide scrollable view of a component
JScrollPane scrollPane;
//creating notePadArea for notepad to input the text
JTextArea notePadArea;
public MyMenuFrame() {
//setting the border layout for JFrame
this.setLayout(new BorderLayout());
// create menu bar named menuBar
JMenuBar menuBar = new JMenuBar();
this.setJMenuBar(menuBar);//adding the menubar to JFrame
// create File menu
mnFile.setMnemonic(KeyEvent.VK_F);//Alt+F
menuBar.add(mnFile);//adding the menufile
// create Open menu item
JMenuItem mntmOpen = new JMenuItem("Open");//creating the Open menu
mntmOpen.setMnemonic(KeyEvent.VK_O);//Alt+O command
mntmOpen.setActionCommand("open");//when the command equals to 'open' then the corresponding action will be performed
mntmOpen.setAccelerator(KeyStroke.getKeyStroke('O', KeyEvent.CTRL_DOWN_MASK));//respond when user clicks Ctrl+O
mntmOpen.addActionListener(this);//adding actionLister to the Menu Option Open
// create Save menu item
JMenuItem mntmSave = new JMenuItem("Save");//creating the Save menu
mntmSave.setMnemonic(KeyEvent.VK_S);//Alt+S command
mntmSave.setActionCommand("save");//when the command equals to 'save' then the corresponding action will be performed
mntmSave.setAccelerator(KeyStroke.getKeyStroke('S', KeyEvent.CTRL_DOWN_MASK));//respond when user clicks Ctrl+S
mntmSave.addActionListener(this);//adding actionLister to the Menu Option Save
// create Exit menu item
JMenuItem mntmExit = new JMenuItem("Exit");//creating the Exit menu
mntmExit.setMnemonic(KeyEvent.VK_X);//Alt+X command
mntmExit.setActionCommand("exit");//when the command equals to 'exit' then the corresponding action will be performed
mntmExit.setAccelerator(KeyStroke.getKeyStroke('X', KeyEvent.CTRL_DOWN_MASK));//respond when user clicks Ctrl+X
mntmExit.addActionListener(this);//adding actionLister to the Menu Option Exit
// add open, save and exit menu to menu-bar
mnFile.add(mntmOpen);
mnFile.addSeparator();//adding separator between open and save
mnFile.add(mntmSave);
mnFile.addSeparator();//adding separator between save and exit
mnFile.add(mntmExit);
// create Edit menu
menuEdit.setMnemonic(KeyEvent.VK_E);//creating shortcut menu when user press Alt+E
menuBar.add(menuEdit);//adding the Edit to the menubar
JMenu submenu1 = new JMenu("Color");//creating the new menu
which comes under Edit
submenu1.setMnemonic(KeyEvent.VK_C);//creating shortcut menu when
user press Alt+C
JMenuItem menuItem0 = new JMenuItem("Change Color");//creating
submenu item called change color
menuItem0.setAccelerator(KeyStroke.getKeyStroke('C',
KeyEvent.CTRL_DOWN_MASK));//it responds when user click
Ctrl+C
menuItem0.setActionCommand("color");//setting the command used to
call the correcponding action when user click this
menuItem0.addActionListener(this);//adding actionlistener
submenu1.add(menuItem0);//adding this menu item to submenu
menuEdit.add(submenu1);//adding this submenu to editmenu
menuEdit.addSeparator();//creating separator between Color and
Font
JMenu submenu = new JMenu("Font");//creating the new menu which
comes under Edit
submenu.setMnemonic(KeyEvent.VK_F);//creating shortcut menu when
user press Alt+F
subMenuItem1.setMnemonic(KeyEvent.VK_T);//creating shortcut menu
when user press Alt+T for Times New Roman
subMenuItem1.setActionCommand("times_new_roman");//setting the
command used to call the correcponding action when user click
this
subMenuItem1.addActionListener(this);//adding actionlistener
submenu.add(subMenuItem1);//adding to the submenu
subMenuItem2.setMnemonic(KeyEvent.VK_A);//creating shortcut key
Alt+A
subMenuItem2.setActionCommand("arial");//respond when the command
equals to arial
subMenuItem2.addActionListener(this);//adding action listener
submenu.add(subMenuItem2);//adding it to the submenu
subMenuItem3.setMnemonic(KeyEvent.VK_S);
subMenuItem3.setActionCommand("serif");
subMenuItem3.addActionListener(this);
submenu.add(subMenuItem3);
submenu.addSeparator();
subMenuItem4.setMnemonic(KeyEvent.VK_B);
subMenuItem4.setActionCommand("bold");
subMenuItem4.addActionListener(this);
submenu.add(subMenuItem4);
subMenuItem5.setMnemonic(KeyEvent.VK_I);
subMenuItem5.setActionCommand("italic");
subMenuItem5.addActionListener(this);
submenu.add(subMenuItem5);
menuEdit.add(submenu);
// create Print menu
menuPrint.setMnemonic(KeyEvent.VK_P);
menuBar.add(menuPrint);
JMenuItem menuItemPrint = new JMenuItem("Send To Printer");
menuItemPrint.setAccelerator(KeyStroke.getKeyStroke('P', KeyEvent.CTRL_DOWN_MASK));
menuItemPrint.setActionCommand("print");
menuItemPrint.addActionListener(this);
menuPrint.add(menuItemPrint);
// create Help menu
menuHelp.setMnemonic(KeyEvent.VK_H);
menuBar.add(menuHelp);
JMenuItem menuItemHelp = new JMenuItem("About");
menuItemHelp.setAccelerator(KeyStroke.getKeyStroke('A', KeyEvent.CTRL_DOWN_MASK));
menuItemHelp.setActionCommand("about");
menuItemHelp.addActionListener(this);
JMenuItem menuItemVisitHomePage = new JMenuItem("Visit Home Page");
menuItemVisitHomePage.setAccelerator(KeyStroke.getKeyStroke('V', KeyEvent.CTRL_DOWN_MASK));
menuItemVisitHomePage.setActionCommand("visithomepage");
menuItemVisitHomePage.addActionListener(this);
menuHelp.add(menuItemHelp);
menuHelp.addSeparator();
menuHelp.add(menuItemVisitHomePage);
notePadArea = new JTextArea();
// set no word wrap
notePadArea.setWrapStyleWord(false);
// create scrollable pane
scrollPane = new JScrollPane(notePadArea, JScrollPane.VERTICAL_SCROLLBAR_ALWAYS , JScrollPane.HORIZONTAL_SCROLLBAR_NEVER);
this.add(scrollPane,BorderLayout.CENTER);
}
@Override
public void actionPerformed(ActionEvent e) {
if(e.getActionCommand().equals("exit")) {
System.exit(0);
}else if (e.getActionCommand().equals("open")) {
JFileChooser file = new JFileChooser();
String fileName = "";//initial filename was empty
// show open file dialog
if (file.showOpenDialog(this) == JFileChooser.APPROVE_OPTION) {
fileName = file.getSelectedFile().getAbsolutePath();
} else {
return;
}
try(BufferedReader bufferedReader = new BufferedReader(new FileReader(fileName));) {
// load file content into text area
StringBuffer stringBuffer = new StringBuffer();//creating a string buffer for reading data from file
String lines = "";//for reading the lines from the selecting file
while((lines = bufferedReader.readLine() ) != null) {//it'll read untill the file ends
stringBuffer.append(lines).append("\n");//for every line read insert new line in stringBuffer
}
bufferedReader.close();//after reading of file done, the bufferedReader will be close
notePadArea.setText(stringBuffer.toString());//converting the read text to string and inserting this text into textArea
} catch (Exception error1) {//if any exception occures
System.out.println(error1.toString());//convert the expection into string and print it
}
} else if (e.getActionCommand().equals("save")) {//if the user click the save command then the file will gonna saved
JFileChooser file = new JFileChooser();//creating the file
chooser
String fileName = "";//initial file name is empty
// show open file dialog
if (file.showSaveDialog(this) == JFileChooser.APPROVE_OPTION) {//if the user select file and clicks OK button
fileName = file.getSelectedFile().getAbsolutePath();
} else {//other wise will be closed
return;
}
try(BufferedWriter bufferedWriter = new BufferedWriter(new FileWriter(fileName));) {
// write editor's content to selected file.
bufferedWriter.write(notePadArea.getText());//get the text
entered in textarea
bufferedWriter.flush();//clear the writer
} catch(Exception ex1) {}
} else if (e.getActionCommand().equals("color")) {
Color select_color = JColorChooser.showDialog(this, "Select a
color", Color.RED);
notePadArea.setForeground(select_color);
} else if (e.getActionCommand().equals("times_new_roman"))
{
if(subMenuItem1.isSelected())
notePadArea.setFont(new Font("Times New Roman", Font.PLAIN,
20));
} else if (e.getActionCommand().equals("arial")) {
if(subMenuItem2.isSelected())
notePadArea.setFont(new Font("Arial", Font.PLAIN, 20));
} else if (e.getActionCommand().equals("serif")) {
if(subMenuItem3.isSelected())
notePadArea.setFont(new Font("Serif", Font.PLAIN, 20));
} else if (e.getActionCommand().equals("bold")) {
if(subMenuItem4.isSelected()){
if(subMenuItem5.isSelected()){
notePadArea.setFont(new Font("Serif", Font.BOLD+Font.ITALIC,
12));
}else{
notePadArea.setFont(new Font("Serif", Font.BOLD, 12));
}
}else{
if(!subMenuItem5.isSelected())
notePadArea.setFont(new Font("Serif", Font.PLAIN, 12));
}
} else if (e.getActionCommand().equals("italic")) {
if(subMenuItem5.isSelected()){
if(subMenuItem4.isSelected()){
notePadArea.setFont(new Font("Serif", Font.BOLD+Font.ITALIC,
12));
}else{
notePadArea.setFont(new Font("Serif", Font.ITALIC, 12));
}
}else{
if(!subMenuItem4.isSelected())
notePadArea.setFont(new Font("Serif", Font.PLAIN, 12));
}
} else if (e.getActionCommand().equals("print")) {
int output = JOptionPane.showConfirmDialog(this, "Do you want to
print the File","Confirmation", JOptionPane.YES_NO_OPTION);
if(output==0){
JOptionPane.showMessageDialog(this, "The file is successfully
printed","Confirmation", JOptionPane.INFORMATION_MESSAGE);
}
} else if (e.getActionCommand().equals("changecolor")){
System.out.println("Color clicked");
}
else if (e.getActionCommand().equals("about")) {
JOptionPane.showMessageDialog(this, "This software is developed in 2019\nVersion is 1.0","About", JOptionPane.INFORMATION_MESSAGE);
} else if (e.getActionCommand().equals("visithomepage")) {
openWebpage("http://www.microsoft.com");
}
}
private void openWebpage (String urlString) {
try {
Desktop.getDesktop().browse(new URL(urlString).toURI());
}
catch (Exception e) {
e.printStackTrace();
}
}
}
import javax.swing.JFrame;
public class MyMenuFrameTest {
public static void main(String[] args) {
MyMenuFrame frame = new MyMenuFrame();
frame.setTitle("MyNotepad");
//for the title of the box
frame.setSize(600, 400);
//for the size of the box
frame.setDefaultCloseOperation(JFrame.EXIT_ON_CLOSE);
frame.setVisible(true);
}
}
In: Computer Science