Self-medication Hypothesis Essay Example for Free

Self-drug Hypothesis Essay As indicated by the self-medicine theory (SMH; Khantzian,1985). The people decision of a specific medication isn't unplanned or incidental, however rather, an aftereffect of the individual’s mental condition, as the medication of decision gives alleviation to the client explicit to their condition. In particular, compulsion is conjectured to work as a compensatory intends to regulate impacts and treat distressful mental states, whereby people pick the medication that will most fittingly deal with their particular kind of mental pain and assist them with accomplishing enthusiastic soundness. Liquor use may assuage tension, thus liquor utilization is fortifying especially when devoured in distressing condition. Drinking can improve disposition and social changes, expel pressure and weights. As expressed to the SMH the decision of a specific medication is an aftereffect of the individual’s mental condition, socially restless individuals may be required to utilize liquor as an adapting activity in attempt at self-drug and to deal with their tension. In light of the Drive Reduction Theory (Clark Hull, 1943) the decrease of drives is the essential power behind inspiration. In his hypothesis, Hull utilized the term drive to allude to the condition of strain or excitement brought about by organic or physiological needs. A drive makes an unsavory express; a strain that should be decreased. So as to diminish this condition of strain, people and creatures search out approaches to satisfy these organic needs. Drive hypothesis depends on the rule that life forms are brought into the world with certain mental needs and that a negative condition of pressure is made when these requirements are not fulfilled. Drinking liquor is a path for socially on edge individuals to diminish their nervousness, so every time they will draw in to a social circumstance they will utilize liquor for molding and fortifying. As Hull recommended, people and creatures will at that point rehash any conduct that decreases their drives. In light of Decision hypothesis each activity in any event verifiably speaks to a choice under vulnerability: in a condition of halfway information, something must be done, regardless of whether that something ends up being nothing. Regardless of whether you dont know how you decide, choices do get made, thus there must be some hidden instrument. The said hypothesis states how individuals with social uneasiness choose. They choose to utilize liquor to diminish their tension, to deal with the side effects or to attempt to escape from it. Since liquor has a calming impact and creates a feeling of rush and diminished modesty evidently giving alleviation from nervousness.

Barriers for Parent Engagement in Childcare Services

Hindrances for Parent Engagement in Childcare Services Basically talk about the boundaries that guardians may look in drawing in with one territory of the children’s administrations. What job would practitioners be able to play in beating a portion of these obstructions? Guardians and professionals attempting to get to help for youngsters with handicaps face numerous hindrances while drawing in with children’s administrations. While changes have occurred in the public eye over the past number of years it can in any case be said that there is consistently opportunity to get better in children’s administrations. This TMA will concentrate on kids with an inability and how guardians and professionals face the hindrances of being heard and getting to the assistance accessible to them. While kids with inabilities have been coordinated into standard school or given the open door inside a unique need schools, guardians despite everything face boundaries of the joining of multi-organizations and getting the correct assistance and exhortation. In the course of recent years change has come to fruition from kids with uncommon necessities been concealed away to now being coordinated into standard training or extraordinary need schools. This has created because of the implantation of new laws and enactment to ensure child’s rights for example children’s NI request (1995), Education Act (2011), and furthermore the current Multi year methodology for kids and youngsters in Northern Ireland 2006-2016. While this has achieved noteworthy change and better nature of training for unique needs kids it tends to be fundamentally contended that guardians despite everything face numerous obstructions inside the instruction framework. Ashley Walter (2014) distinguished that kids with incapacities have more neglected wellbeing needs. This was additionally observed more from offspring of rustic regions. Guardians are not just having to adapting to the extra needs of their child’s incapacity, yet additionally the boundarie s of looking for help and being heard for their kid to get the correct instruction. As a non-permanent parents for an incapacitated youngster I can allude to these guardians as I too found the boundaries of referred to what administrations was accessible as data is restricted. Lambing (2009) underpins these guardians when his examinations recognized that guardians face the hindrances of not knowing how the framework functions and the help accessible to access for their child’s needs. It can likewise be similarly contended that guardians themselves set the obstruction to connect with the administrations. This might be an aftereffect of not dealing with their child’s incapacity being trying to claim ignorance or that they feel embarrassed about not having the option to adapt. I was motivated by the examination of Brodhurst (2003) which shows that guardians of impaired kids have a social hindrance in participating in administrations. Jawline and Philip (2004) bolster this when discussing Cultural capital, on how guardians from various social layers characterize how their youngster is raised. It very well may be perceived how parent’s goals can impact boundaries as they can better standards for their kid than they are prepared to do. This is the point at which the job of the professional assumes a significant job to beating these hindrances. Guardians need the help in realizing that there is something incorrectly just as discovering that connecting with various administrations will beat obstructions. The incorporation of children’s administrations has been set up to connect with these guardians. Guaralnick J M discusses early intercession and its significance to both the youngster and their family. The advancement of Sure Start is viewed as a urgent early year administrations. They give a significant system of help and direction to help beat a portion of the combination hindrances parents’ face. Cohan (2005) sees that while administrations change and multi-organizations cooperate, so too does the relationship with the youngster change. Guardians are consequently confronted with the new boundaries of how the kid will intergraded into this framework. This is upheld by the examination announced in the Journal of formative and conduct pediatrics, where guardians and suppliers both point of view in boundaries where youngsters with inabilities can't incorporate into the framework because of their unpredictable needs of adapting to change and new offices. It very well may be basically contended that our framework will in general fit the youngster into the administrations as opposed to the administration into the kid. Will arrangements not be done in the home or school condition? Has the kid condition been thought about particularly a kid who can’t adapt to new places or individuals? These are a portion of the numerous inquiries and boundaries that guardians face. As speciali st organizations it can basically be said that we tend to take a gander at what we believe is best for the kid as opposed to tuning in to kid themselves. As a non-permanent parent I too confronted these obstructions as the kid I thought about discovered troublesome is adapting to change. When going to arrangements it caused pressure and tension given the numerous obstructions to survive. Kid A had the challenges of managing the new encompassing as well as the various appearances and appraisals needs. At that point there are the boundaries of looking out for choices. I can say that I thought that it was difficult to know the results and confronted the hindrances of disappointment in not comprehending what is occur and how Child A requirements were being met. It is significant as administrations suppliers to recall while all zones of advancement are interlinked every kid is a person. Like Young C discussed in video cut three learning guide 17.2 while the contributing of data is signif icant we need to consider how we accumulate this data as it very well may be seen an advancement when expert visit the setting inside brief period to do comparable appraisals. This is the equivalent for guardians going to various arrangements as it gets disappointing to getting a similar criticism and not answers to the administrations their kid needs. Turner (2003) inquire about I feel is significant as he discussed the significance for the child’s government assistance of having various offices while simultaneously having the help of a co-ordinator known as a Key laborer to chip away at their benefit to lessen pressure. These techniques would help decrease a few boundaries and offer the help for guardians during troublesome periods. As expressed in the Warnock Report (1978) â€Å"Parents give significant on the off chance that not remarkable data for experts who can, at that point choose the proper strategy in the ‘best enthusiasm of the child.† Parent’s interest is pivotal in the progressing improvement of administrations as they will be there for the youngsters when expert are definitely not. A fascinating Journal became obvious was the Facilitators and obstructions for co †ordinated multi-organization administrations which featured that while there is little proof on the adequacy of multi-office it has been discovered that boundaries are decreased of gathering data, clear points and courses of events. While we talk about organization it is contended that it advances, develops and builds up a style of mentalities and cooperating, it very well may be fundamentally contended that this demeanor continually impacts relationship inside the association and the youngsters needs are met. Like Savage J in Video cut 2 Learning guide 17.2 states there is no reason for ‘demonising’ offices who are seen as not contributing; it ought to be perceived that they have their own goals which should be connected to shared targets which should be connected to shared destinations. While this is genuine the boundaries the two guardians and schools face are of experts not having any desire to over advance their job in settling on formal choices as they don’t feel they have the authority as its past their activity title. The way to course of interagency work was set out as a procedure of counseling the kids, youngsters, and guardians utilizing the administration. It is to empowers the kids to remark on their necessities and issues legitimately identified with interagency administration conveyance. While this is the point boundaries are as yet confronted todays guardians and professionals. While the interagency is to help diminish these obstructions as a childcare specialist working in the early years I also face the hindrances of been heard. In schools professionals likewise need to beat hindrances to help the youngster just as building parent’s relationship. As a professional we need the guardians support as they are the primary wellspring of imperative data for the kid government assistance. This can be testing when a youngster is obscure to have an exceptional need and is recognized inside the school. While the UNCRC (1989) enacts the ideal for youngsters to be taught in standard schools th e two specialists and guardians face the boundaries of being heard and having the help expected to permit their kids needs met. In my own setting we face the boundaries of kids not been evaluated before school age particularly kids that present with mental imbalance, this along these lines drives onto being declined the help required inside the setting. These boundaries have a continuous impact on the kid as well as the pressure guardians face to being heard. Guralnick J M (1991) features the significance of early intercession and the advantages it has on the child’s advancement too Government DFE (2012) recommending that poor arrangement for youngsters and youngsters with SEND, especially those with requirements, for example, chemical imbalance and dyslexia is probably going to fundamentally influence their personal satisfaction. Anyway it doesn't generally occur by and by. In my own deliberate association we don't have the help of the instruction framework as we are viewed as a pre-school and not a nursery despite the fact that the thing that matters is the title. This thusly doesn't empower us to have the help of early mediation to get kids surveyed for mental imbalance. These youngsters are enduring and hindrances are set against the pre-school in offering types of assistance and helping guardians to get the best beginning for their kid. It tends to be seen that while new laws and enactment has seen upgrades in children’ s administrations

Cognitive Behavioral Therapy as Food Addiction Treatment

Cognitive Behavioral Therapy as Food Addiction Treatment Eating Disorders Treatment Print How Cognitive Behavioral Therapy Can Help Treat Food Addiction By Elizabeth Hartney, BSc., MSc., MA, PhD Elizabeth Hartney, BSc, MSc, MA, PhD is a psychologist, professor, and Director of the Centre for Health Leadership and Research at Royal Roads University, Canada. Learn about our editorial policy Elizabeth Hartney, BSc., MSc., MA, PhD Medically reviewed by Medically reviewed by Steven Gans, MD on August 05, 2016 Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital. Learn about our Medical Review Board Steven Gans, MD Updated on December 03, 2019 Corbis / Getty Images More in Eating Disorders Treatment Symptoms Diagnosis Awareness and Prevention If you have difficulty with overeating, you may wonder whether  cognitive  behavioral therapy (CBT) can help you stop your problem behaviors and food addiction. This example puts you in the place of a fictitious person who has characteristics and circumstances often seen in people who come for treatment for food addiction. This can show you what happens in CBT and how it can help people stop overeating. Overeating and Binge Eating Behaviors You are a binge eater who binges on candy, cookies, and chocolate several times a day. Your overeating started in childhood when you would eat candy in secret at night. You describe your binges as emotional eating  because you eat when you felt upset. You do everything you can to prevent weight gain, including skipping regular meals, exercising for hours, using laxatives to clear yourself out, and occasionally, making yourself vomit. Your family doctor became concerned that you were developing problems with incontinence from laxative overuse, and she referred you to CBT to help you stop overeating. Overeating Due to Emotional Reasoning Your cognitive-behavioral therapist  guides you in recording the thoughts and feelings you experience before, during and after bingeing on sweet food. By analyzing the thoughts and feelings you have around food, you and your therapist come to understand that you have become addicted to food because of a type of faulty thinking called emotional reasoning. As your weight has increased, your self-esteem has worsened. Many times a day, you would interpret small chance occurrences as reasons to feel bad about yourself. Once you start keeping track of your thought processes, you realize how often this is happening. For example, if someone pushed in front of you in line, you would feel that this must mean you are a worthless person, and you would immediately buy a bar to chocolate to eat and make yourself feel better. One day, a colleague didnt respond when you said Good morning, and you reasoned this was because your colleague disliked you. At your first opportunity, you made an excuse to slip out and buy a pack of cookies  and ate the whole pack. Your performance review at work was rated good, and you thought that anything less than excellent meant you were terrible at your job, so you spent the evening eating cake and ice cream. Each time a minor disappointment of this sort occurred, which was almost daily, you would go to your secret stash of chocolate or head to the grocery store for a binge. In spite of this well-established pattern of behavior, although you wanted to stop overeating, you just did not know another way to handle your uncomfortable feelings of worthlessness. Using Cognitive Behavioral Therapy to Treat Food Addiction The CBT therapist explains to you that your binge eating is based on emotional reasoning and, although eating might make you feel temporarily comforted, would not help you feel better about yourself. In fact, overeating was having the opposite effect  and was actually making you feel worse about yourself, which would then worsen your overeating. Together, you plan a different approach to handling disappointment. With practice, you are able to interpret people’s responses more realistically, so you are not constantly feeling inadequate. You also practice  methods for improving your self-esteem. As your self-esteem improves, you became more able to refrain from snacking and bingeing and began to eat more nutritious food. The 9 Best Online Therapy Programs

India s Promotion Of Wine Tourism - 4103 Words

â€Å"VITICULTURE AND VINIFICATION† TWO FUNDAMENTALS IN PROMOTION OF WINE TOURISM IN INDIA Dr. Bharat Sharma Head of Department, Hospitality Business Australian Education Academy, Melbourne Australia Email: bharat4sai@gmail.com Abstract: ‘With world economy struggling in its way and looking for alternative options, India’s wine tourism is poised to achieve a great boost if right direction and promotion are given. Even though wine production has a long history in India, there has not been much of growth in this Industry for a long time until recently, where some results are surfacing. This paper explores tourism opportunities in promoting viticulture and vinification as a tool for development of wine tourism which in return has a wider†¦show more content†¦To cater these potential customers we are in dire need of quality professionals for current and future job market in Hospitality Industry. With the promotion of wine tourism, F B service professionals with right skills are needed to deliver required service. In the current scenario where people have started to use spare money and time, there is a wide scope of introduction of wine as a drink with food in general masses. As we have burgeoning middle class with spare money and time, there is big market to cater at home front. The process of preparation, production, storing and service of wines itself involves lots of employment opportunities and economic potential. With cheap labour in India we can do lot more than developed countries of west and give good competition in quality and price for the production and preparation of quality wines. India can certainly be favourite outsourced destination for production of quality grapes for wine production and even become producers of finest wines. As vinification requires professionals to prepare wine hence promoting vinification will enhance many outlets for source of wine as a drink along with dinner, rather than spirits. Once the difference of spirits and wine is established, we will see a lot of demand for wines. Hence viticulture vinification can bring International recognition to Indian wines and due to cheap labour India will see a boom in wine tourism. At the same time we will require

Individualism Essay - 854 Words

Individualism Individualism is a view that stresses the significance and worth of every individual. They include complex convictions, ethics, exercises, and courses of action around identity. The self is viewed as interdependent with groups; Individual goals take precedence over group goals and not the family, they tend to be raised in richer cultures and emphasize personal freedom, achievement, privacy, and autonomy. Their social practices have a tendency to be directed by their states of mind and dispositions of the individual. Individualists focus on the needs of themselves and their attitudes and personal needs are important determinants of behavior. Their uniqueness is valued, they award social status to personal achievement, are†¦show more content†¦In an individualist culture, individual personal goals take priority over their constancy to their groups like family or the business employers. The reliability to a group is extremely feeble; they believe they have a plac e within many groups and are able to change their participation as it suits them, changing religions or places of worship, for instance, or abandoning one job for another. In an Individualist culture, you learned to grow into your own person, shaping your life to fit into your own mold rather than that of others. Parents in individualist cultures have a tendency to be more definitive; they promote advanced freedom, independence, investigation of the earth, and put less accentuation on dutifulness and friendliness, as opposed to restricting yourself to the qualifications or stipulations of a group. They want you to figure out how to see yourself as your own particular being. They want to mentality drive you to see your own novel advantages and attributes. Things like going to college, drawing, and painting are diversions that could assume an enormous part of someone’s life, yet the group is not needed to drive these interests onto a person. In addition, being your own indivi dual gives you responsibility for your activities. Furthermore, when you need to achieve objectives, you need to put in the diligent work as opposed to anticipating that others will do work for you. An example of individualism wouldShow MoreRelatedEssay On Individualism And Collectivism1162 Words   |  5 PagesThis essay will discuss the influence of cultural dimensions on behavior. A cultural dimension is defined as a perspective of a culture based on its values and cultural norms. In particular, Hofstede’s cultural dimension of individualism vs. collectivism will be discussed. Individualism vs collectivism is defined as the preference of a person only being concerned about oneself and looking after oneself, compared to a person who wants to remain in a closely knitted network. These are some terms withRead MoreAP Individualism Essay948 Words   |  4 PagesSelf-Expression and Individualism In AP by John Updike it is shown that conformism is a major part of society in that time. In the story everything is like a well-oiled machine, but when three girls’ walks into the AP store all of this changes for Sammy. A theme that is predominant in the short story by Updike is individualism shown by the girls and how Sammy responds to the events in the story. It is clear in the story that individualism wasnt a dominant trait in people. Sammy saw peopleRead MoreIndividualism in the Film Jane Eyre Essay1047 Words   |  5 PagesISU Comparison Essay â€Å"He who loses individuality, loses all† (Good Reads, 2012). This quote said by Mahatma Gandhi, one of the most recognized leaders of the 19th century, can easily be used to acknowledge the importance of a society possessing unique individualistic traits and characteristics as individuality is the fuel needed to run a society. In a world, where even a mere speck of individuality is not present, that society is likely to shatter into utter destruction. Moreover, individuals shouldRead MoreIndividualism Our Future? Essay704 Words   |  3 Pagesrepresents a philosophical, political or moral doctrine or a belief system. One of them is individualism. Usually any typical ism limits or suppresses humankind deployment and leaves a negative impact on human society. But individualism is completely different. This is something that everyone should be familiar with to choose for his or her personal development. One can find many definitions of individualism. Some are vey complex such as it is the moral stance, political philosophy, ideology, orRead MoreEssay on American Culture: Individualism1091 Words   |  5 PagesHollywood and Disney World. Underneath the layers of TV advertising and hyper-consumerism, there is a cultural DNA that makes America what it is. Here is a brief look at several cultural â€Å"genes† that influence the way Americans think and act. Individualism Individualism is a way of life by which a person places his or her own desires, needs, and comforts above the needs of a broader community. This does not mean that Americans have no concern for other people, but it does mean that they give high priorityRead MoreCapitalism: Individualism and Government Essay1130 Words   |  5 Pagesdenominations thrive from others prosperity and income. Capitalism is a definite social justice issue. One reason why people do not necessarily feel obligated to help others less fortunate than him or herself is because the economy focuses on individualism, which leads to greed and hoarding. Another reason why capitalism is a social justice issue is that it deprives certain people of their human rights as well as the dignity and respect that all humans deserve. As a result, we can ask ourselves,Read MoreIndividualism or Collectivism in Society Essay1174 Words   |  5 PagesDebate Question: Which ideological group has had the greatest impact on modern society? Individualism or Collectivism. Terms: Individualism- when you value the freedom and worth of the individual, sometimes over the security and harmony of the group or a belief in the importance of the individual and the virtue of self-reliance and personal independence Collectivism- is basically when you think that values and the goals of the group and the common good over the goals of any oneRead More Individualism in Habits of The Heart Essay2767 Words   |  12 Pageswhether it is in a public arena or our own intimate relationships with family and friends. The very word individualism means to look out for number one, it implies a me society that has lost it’s way from the way it use to be. The title â€Å"Habits Of The Heart† creates images of love, faith, hope and commitment to others, a sense of belonging to something larger than yourself. Does individualism really exist, or is it that people tend to forget where they came from and how much they really are influencedRead More The Autonomous Self and the Dichotomy of Individualism Essay1440 Words   |  6 PagesThe Autonomous Self and the Dichotomy of Individualism It is not only intellectuals and English theory professors who spend countless hours and study attempting to determine the notion of self. People all over the world do it everyday, whether consciously or unconsciously. People question who they are and how their lives are structured in relation to the society in which they live. From questioning why they forgot the eggs on the grocery list to why life seems to be an eternal roller-coasterRead MoreUSA: The Land of the Individualism and Freedom Essay1437 Words   |  6 PagesPsychology, the authors argue that â€Å"One may conceive of cultures such as the American not as ‘individualist’ in the sense of being impervious to social influences of social groups and of their culture, but as demonstrating collectivism through strong individualism† (Jetten, Postmes, and Mcauliffe 204). Everyone wants to be different from those in the in-crowd, but by holding different trains of thought that ultimately overlap with ot her peoples’, you join the out-crowd. Take a classic example from the

Foundation and Empire 14. The Mutant Free Essays

string(30) " finish if you make speeches\." The â€Å"hangar† on Kalgan is an institution peculiar unto itself, born of the need for the disposition of the vast number of ships brought in by the visitors from abroad, and the simultaneous and consequent vast need for living accommodations for the same. The original bright one who had thought of the obvious solution had quickly become a millionaire. His heirs – by birth or finance – were easily among the richest on Kalgan. We will write a custom essay sample on Foundation and Empire 14. The Mutant or any similar topic only for you Order Now The â€Å"hangar† spreads fatly over square miles of territory, and â€Å"hangar† does not describe it at all sufficiently. It is essentially a hotel – for ships. The traveler pays in advance and his ship is awarded a berth from which it can take off into space at any desired moment. The visitor then lives in his ship as always. The ordinary hotel services such as the replacement of food and medical supplies at special rates, simple servicing of the ship itself, special intra-Kalgan transportation for a nominal sum are to be had, of course. As a result, the visitor combines hangar space and hotel bill into one, at a saving. The owners sell temporary use of ground space at ample profits. The government collects huge taxes. Everyone has fun. Nobody loses. Simple! The man who made his way down the shadow-borders of the wide corridors that connected the multitudinous wings of the â€Å"hangar† had in the past speculated on the novelty and usefulness of the system described above, but these were reflections for idle moments – distinctly unsuitable at present. The ships hulked in their height and breadth down the long lines of carefully aligned cells, and the man discarded line after line. He was an expert at what he was doing now and if his preliminary study of the hangar registry had failed to give specific information beyond the doubtful indication of a specific wing – one containing hundreds of ships – his specialized knowledge could winnow those hundreds into one. There was the ghost of a sigh in the silence, as the man stopped and faded down one of the lines; a crawling insect beneath the notice of the arrogant metal monsters that rested there. Here and there the sparkling of light from a porthole would indicate the presence of an early returner from the organized pleasures to simpler – or more private – pleasures of his own. The man halted, and would have smiled if he ever smiled. Certainly the convolutions of his brain performed the mental equivalent of a smile. The ship he stopped at was sleek and obviously fast. The peculiarity of its design was what he wanted. It was not a usual model – and these days most of the ships of this quadrant of the Galaxy either imitated Foundation design or were built by Foundation technicians. But this was special. This was a Foundation ship – if only because of the tiny bulges in the skin that were the nodes of the protective screen that only a Foundation ship could possess. There were other indications, too. The man felt no hesitation. The electronic barrier strung across the line of the ships as a concession to privacy on the part of the management was not at all important to him. It parted easily, and without activating the alarm, at the use of the very special neutralizing force he had at his disposal. So the first knowledge within the ship of the intruder without was the casual and almost friendly signal of the muted buzzer in the ship’s living room that was the result of a palm placed over the little photocell just one side of the main air lock. And while that successful search went on, Toran and Bayta felt only the most precarious security within the steel walls of the Bayta. The Mule’s clown who had reported that within his narrow compass of body he held the lordly name of Magnifico Giganticus, sat hunched over the table and gobbled at the food set before him. His sad, brown eyes lifted from his meat only to follow Bayta’s movements in the combined kitchen and larder where he ate. â€Å"The thanks of a weak one are of but little value,† he muttered, â€Å"but you have them, for truly, in this past week, little but scraps have come my way – and for all my body is small, yet is my appetite unseemly great.† â€Å"Well, then, eat!† said Bayta, with a smile. â€Å"Don’t waste your time on thanks. Isn’t there a Central Galaxy proverb about gratitude that I once heard?† â€Å"Truly there is, my lady. For a wise man, I have been told, once said, ‘Gratitude is best and most effective when it does not evaporate itself in empty phrases.’ But alas, my lady, I am but a mass of empty phrases, it would seem. When my empty phrases pleased the Mule, it brought me a court dress, and a grand name – for, see you, it was originally simply Bobo, one that pleases him not – and then when my empty phrases pleased him not, it would bring upon my poor bones beatings and whippings.† Toran entered from the pilot room, â€Å"Nothing to do now but wait, Bay. I hope the Mule is capable of understanding that a Foundation ship is Foundation territory.† Magnifico Giganticus, once Bobo, opened his eyes wide and exclaimed, â€Å"How great is the Foundation before which even the cruel servants of the Mule tremble.† â€Å"Have you heard of the Foundation, too?† asked Bayta, with a little smile. â€Å"And who has not?† Magnifico’s voice was a mysterious whisper. â€Å"There are those who say it is a world of great magic, of fires that can consume planets, and secrets of mighty strength. They say that not the highest nobility of the Galaxy could achieve the honor and deference considered only the natural due of a simple man who could say ‘I am a citizen of the Foundation,’ – were he only a salvage miner of space, or a nothing like myself.† Bayta said, â€Å"Now, Magnifico, you’ll never finish if you make speeches. You read "Foundation and Empire 14. The Mutant" in category "Essay examples" Here, I’ll get you a little flavored milk. It’s good.† She placed a pitcher of it upon the table and motioned Toran out of the room. â€Å"Torie, what are we going to do now – about him?† and she motioned towards the kitchen. â€Å"How do you mean?† â€Å"If the Mule comes, are we going to give him up?† â€Å"Well, what else, Bay?† He sounded harassed, and the gesture with which he shoved back the moist curl upon his forehead testified to that. He continued impatiently, â€Å"Before I came here I had a sort of vague idea that all we had to do was to ask for the Mule, and then get down to business – just business, you know, nothing definite.† â€Å"I know what you mean, Torie. I wasn’t much hoping to see the Mule myself, but I did think we could pick up some firsthand knowledge of the mess, and then pass it over to people who know a little more about this interstellar intrigue. I’m no storybook spy.† â€Å"You’re not behind me, Bay.† He folded his arms and frowned. â€Å"What a situation! You’d never know there was a person like the Mule, except for this last queer break. Do you suppose he’ll come for his clown?† Bayta looked up at him. â€Å"I don’t know that I want him to. I don’t know what to say or do. Do you?† The inner buzzer sounded with its intermittent burring noise. Bayta’s lips moved wordlessly, â€Å"The Mule!† Magnifico was in the doorway, eyes wide, his voice a whimper, â€Å"The Mule?† Toran murmured, â€Å"I’ve got to let them in.† A contact opened the air lock and the outer door closed behind the newcomer. The scanner showed only a single shadowed figure. â€Å"It’s only one person,† said Toran, with open relief, and his voice was almost shaky as he bent toward the signal tube, â€Å"Who are you?† â€Å"You’d better let me in and find out, hadn’t you?† The words came thinly out the receiver. â€Å"I’ll inform you that this is a Foundation ship and consequently Foundation territory by international treaty.† â€Å"I know that.† â€Å"Come with your arms free, or I’ll shoot. I’m well-armed.† â€Å"Done!† Toran opened the inner door and closed contact on his blast pistol, thumb hovering over the pressure point. There was the sound of footsteps and then the door swung open, and Magnifico cried out, â€Å"It’s not the Mule. It’s but a man.† The â€Å"man† bowed to the clown somberly, â€Å"Very accurate. I’m not the Mule.† He held his hands apart, â€Å"I’m not armed, and I come on a peaceful errand. You might relax and put the blast pistol away. Your hand isn’t steady enough for my peace of mind.† â€Å"Who are you?† asked Toran, brusquely. â€Å"I might ask you that,† said the stranger, coolly, â€Å"since you’re the one under false pretenses, not I.† â€Å"How so?† â€Å"You’re the one who claims to be a Foundation citizen when there’s not an authorized Trader on the planet.† â€Å"That’s not so. How would you know?† â€Å"Because I am a Foundation citizen, and have my papers to prove it. Where are yours?† â€Å"I think you’d better get out.† â€Å"I think not. If you know anything about Foundation methods, and despite your imposture you might, you’d know that if I don’t return alive to my ship at a specified time, there’ll be a signal at the nearest Foundation headquarters so I doubt if your weapons will have much effect, practically speaking.† There was an irresolute silence and then Bayta said, calmly, â€Å"Put the blaster away, Toran, and take him at face value. He sounds like the real thing.† â€Å"Thank you,† said the stranger. Toran put his gun on the chair beside him, â€Å"Suppose you explain all this now.† The stranger remained standing. He was long of bone and large of limb. His face consisted of hard flat planes and it was somehow evident that he never smiled. But his eyes lacked hardness. He said, â€Å"News travels quickly, especially when it is apparently beyond belief. I don’t suppose there’s a person on Kalgan who doesn’t know that the Mule’s men were kicked in the teeth today by two tourists from the Foundation. I knew of the important details before evening, and, as I said, there are no Foundation tourists aside from myself on the planet. We know about those things.† â€Å"Who are the ‘we’?† â€Å"‘We’ are – ‘we’! Myself for one! I knew you were at the Hangar – you had been overheard to say so. I had my ways of checking the registry, and my ways of finding the ship.† He turned to Bayta suddenly, â€Å"You’re from the Foundation – by birth, aren’t you?† â€Å"Am I?† â€Å"You’re a member of the democratic opposition – they call it ‘the underground.’ I don’t remember your name, but I do the face. You got out only recently – and wouldn’t have if you were more important.† Bayta shrugged, â€Å"You know a lot.† â€Å"I do. You escaped with a man. That one?† â€Å"Does it matter what I say?† â€Å"No. I merely want a thorough mutual understanding. I believe that the password during the week you left so hastily was ‘Seldon, Hardin, and Freedom.’ Porfirat Hart was your section leader. â€Å" â€Å"Where’d you get that?† Bayta was suddenly fierce. â€Å"Did the police get him?† Toran held her back, but she shook herself loose and advanced. The man from the Foundation said quietly, â€Å"Nobody has him. It’s just that the underground spreads widely and in queer places. I’m Captain Han Pritcher of Information, and I’m a section leader myself – never mind under what name.† He waited, then said, â€Å"No, you don’t have to believe me. In our business it is better to overdo suspicion than the opposite. But I’d better get past the preliminaries.† â€Å"Yes,† said Toran, â€Å"suppose you do.† â€Å"May I sit down? Thanks.† Captain Pritcher swung a long leg across his knee and let an arm swing loose over the back of the chair. â€Å"I’ll start out by saying that I don’t know what all this is about – from your angle. You two aren’t from the Foundation, but it’s not a hard guess that you’re from one of the independent Trading worlds. That doesn’t bother me overmuch. But out of curiosity, what do you want with that fellow, that clown you snatched to safety? You’re risking your life to hold on to him.† â€Å"I can’t tell you that.† â€Å"Hm-m-m. Well, I didn’t think you would. But if you’re waiting for the Mule himself to come behind a fanfarade of horns, drums, and electric organs – relax! The Mule doesn’t work that way.† â€Å"What?† It came from both Toran and Bayta, and in the comer where Magnifico lurked with ears almost visibly expanded, there was a sudden joyful start. â€Å"That’s right. I’ve been trying to contact him myself, and doing a rather more thorough job of it than you two amateurs can. It won’t work. The man makes no personal appearance, does not allow himself to be photographed or simulated, and is seen only by his most intimate associates.† â€Å"Is that supposed to explain your interest in us, captain?† questioned Toran. â€Å"No. That clown is the key. That clown is one of the very few that have seen him. I want him. He may be the proof I need – and I need something, Galaxy knows – to awaken the Foundation.† â€Å"It needs awakening?† broke in Bayta with sudden sharpness. â€Å"Against what? And in what role do you act as alarm, that of rebel democrat or of secret police and provocateur?† The captain’s face set in its hard lines. â€Å"When the entire Foundation is threatened, Madame Revolutionary, both democrats and tyrants perish. Let us save the tyrants from a greater, that we may overthrow them in their turn.† â€Å"Who’s the greater tyrant you speak of?† flared Bayta. â€Å"The Mule! I know a bit about him, enough to have been my death several times over already, if I had moved less nimbly. Send the clown out of the room. This will require privacy.† â€Å"Magnifico,† said Bayta, with a gesture, and the clown left without a sound. The captain’s voice was grave and intense, and low enough so that Toran and Bayta drew close. He said, â€Å"The Mule is a shrewd operator – far too shrewd not to realize the advantage of the magnetism and glamour of personal leadership. If he gives that up, it’s for a reason. That reason must be the fact that personal contact would reveal something that is of overwhelming importance not to reveal.† He waved aside questions, and continued more quickly, â€Å"I went back to his birthplace for this, and questioned people who for their knowledge will not live long. Few enough are still alive. They remember the baby born thirty years before – the death of his mother – his strange youth. The Mule is not a human being!† And his two listeners drew back in horror at the misty implications. Neither understood, fully or clearly, but the menace of the phrase was definite. The captain continued, â€Å"He is a mutant, and obviously from his subsequent career, a highly successful one. I don’t know his powers or the exact extent to which he is what our thrillers would call a ‘superman,’ but the rise from nothing to the conqueror of Kalgan’s warlord in two years is revealing. You see, don’t you, the danger? Can a genetic accident of unpredictable biological properties be taken into account in the Seldon plan?† Slowly, Bayta spoke, â€Å"I don’t believe it. This is some sort of complicated trickery. Why didn’t the Mule’s men kill us when they could have, if he’s a superman?† â€Å"I told you that I don’t know the extent of his mutation. He may not be ready, yet, for the Foundation, and it would be a sign of the greatest wisdom to resist provocation until ready. Now let me speak to the clown.† The captain faced the trembling Magnifico, who obviously distrusted this huge, hard man who faced him. The captain began slowly, â€Å"Have you seen the Mule with your own eyes?† â€Å"I have but too well, respected sir. And felt the weight of his arm with my own body as well.† â€Å"I have no doubt of that. Can you describe him?† â€Å"It is frightening to recall him, respected sir. He is a man of mighty frame. Against him, even you would be but a spindling. His hair is of a burning crimson, and with all my strength and weight I could not pull down his arm, once extended – not a hair’s thickness.† Magnifico’s thinness seemed to collapse upon itself in a huddle of arms and legs. â€Å"Often, to amuse his generals or to amuse only himself, he would suspend me by one finger in my belt from a fearful height, while I chattered poetry. It was only after the twentieth verse that I was withdrawn, and each improvised and each a perfect rhyme, or else start over. He is a man of overpowering might, respected sir, and cruel in the use of his power – and his eyes, respected sir, no one sees.† â€Å"What? What’s that last?† â€Å"He wears spectacles, respected sir, of a curious nature. It is said that they are opaque and that he sees by a powerful magic that far transcends human powers. I have heard,† and his voice was small and mysterious, â€Å"that to see his eyes is to see death; that he kills with his eyes, respected sir.† Magnifico’s eyes wheeled quickly from one watching face to another. He quavered, â€Å"It is true. As I live, it is true. â€Å" Bayta drew a long breath, â€Å"Sounds like you’re right, captain. Do you want to take over?† â€Å"Well, let’s look at the situation. You don’t owe anything here? The hangar’s barrier above is free?† â€Å"I can leave any time.† â€Å"Then leave. The Mule may not wish to antagonize the Foundation, but he runs a frightful risk in letting Magnifico get away. It probably accounts for the hue and cry after the poor devil in the first place. So there may be ships waiting for you upstairs. If you’re lost in space, who’s to pin the crime?† â€Å"You’re right,† agreed Toran, bleakly. â€Å"However, you’ve got a shield and you’re probably speedier than anything they’ve got, so as soon as you’re clear of the atmosphere make the circle in neutral to the other hemisphere, then just cut a track outwards at top acceleration.† â€Å"Yes,† said Bayta coldly, â€Å"and when we are back on the Foundation, what then, captain?† â€Å"Why, you are then co-operative citizens of Kalgan, are you not? I know nothing to the contrary, do I?† Nothing was said. Toran turned to the controls. There was an imperceptible lurch. It was when Toran had left Kalgan sufficiently far in the rear to attempt his first interstellar jump, that Captain Pritcher’s face first creased slightly – for no ship of the Mule had in any way attempted to bar their leaving. â€Å"Looks like he’s letting us carry off Magnifico,† said Toran. â€Å"Not so good for your story.† â€Å"Unless,† corrected the captain, â€Å"he wants us to carry him off, in which case it’s not so good for the Foundation.† It was after the last jump, when within neutral-flight distance of the Foundation, that the first hyperwave news broadcast reached the ship. And there was one news item barely mentioned. It seemed that a warlord – unidentified by the bored speaker – had made representations to the Foundation concerning the forceful abduction of a member of his court. The announcer went on to the sports news. Captain Pritcher said icily, â€Å"He’s one step ahead of us after all.† Thoughtfully, he added, â€Å"He’s ready for the Foundation, and he uses this as an excuse for action. It makes things more difficult for us. We will have to act before we are really ready.† How to cite Foundation and Empire 14. The Mutant, Essay examples

Ace Hardware Store Entering Bahrain Market free essay sample

We have endeavoured to emphasize on the suggested strategies which will allow Ace Hardware to consider venturing into the Bahraini market. Therefore with the information provided and composed, we have the opportunity to examine comments of Ace Hardware which allows us to highlight key issues faced. Organisations need to recognize and meet demands of the exterior factors which include threats and opportunities to uphold their competitiveness in the market. Henceforth, the intention of this report is to essentially investigate and assess the outlook of Ace Hardware Corporation in relation to expansion and growth in the Bahraini market. . 0 Introduction Bahrain is one of the unique countries in the Middle East. It alone has a stable economic climate and welcomes foreign investment with a highly business friendly culture thus making it an efficient country to start business. Introducing Ace Hardware to the Bahraini market because of a numerous aspects such as retaining 100% foreign owner ship and low taxation, provides a free, open and transparent environment that fosters growth, legal system protects companies’ rights, while their free market environment allows businesses to thrive. . 0 Industry Business Description The ACE Hardware Corporation is a well-known wholesaler of hardware and home-related products; the organisation offerings include safety equipment, plumbing products, outdoor living products, pet supplies, door handles, electrical tools, lawn and garden accessories, furniture, home appliances and many more. ACE has been affianced in the wholesale hardware business and has offered dealerships to retailers of hardware and associated items since the company in Illinois commenced incorporating in 1927. Today, ACE is the largest retailer-owned obliging and vibrant leader in the convenience division of the hardware business in terms of wholesale and retail sales and strength of the brand. 3. 0 Company description According to (Irwin, 2012), Ace Hardware ranks highest in satisfying home improvement retail store customers for a sixth consecutive year according to the J. D. Power of Associates Home improvement Retail satisfaction Study of 2012. This measured customer satisfaction with home improvement retail stores, based on the performance of five factors: merchandise, price, sales staff, sales amp; promotions and store facility. The organisation emphasizes on service and modern retailing techniques and has helped locally owned operated ACE retail stores confront intense competition from Home Depot and Lowe’s. In addition, it provides numerous value-added services such as marketing, advertising, merchandising and design services to its retail members. ACE’s 4,600 stores in all 50 states and more than 60 countries generate annual retail sales of approximately $12 billion (ACE Hardware Corporation, 2012). 3. 1 Type of business Retail Sales ACE’s 4,600 stores in all 50 states and more than 60 countries generate annual retail sales of approximately $12 billion (Ace Hardware Corporation, 2012). Dubai, Shanghai, Canada etc. Applying a Teradata warehouse permitted 2,500 Ace Hardware retail stores to transmit daily a point of sale (POS) transaction detail. According to (Murphy, 2007), â€Å"Teradata is the world leader in data warehousing solutions with a proven track record in retail, as we discovered when we sought vendor references. That experience, including customer relationship management, category management and business intelligence, made Teradata the right choice for Ace Hardware. † Basically, Ace relies on active warehouse data from Teradata, which has delivered a single repository for retail and wholesale sales, purchasing, customer information, financial data and inventory to essentially support large varied workloads. Wholesale In addition to its 14 retail support centres in the United States and freight forwarding operations on the West Coast and East Coast, ACE features three international distribution centres in Dubai, Shanghai and Panama. The international distribution centres provide: 1. Easier access to core stock of leading brand products and certified ACE products through their global supply warehouse 2. Online ordering systems 3. In-market fully operational support offices. â€Å"It is very useful to have Ace as a partner for this type of market. It is nice to be able to replenish your inventory on a weekly basis, which makes it easier to control. Our goal is to be a one stop shop for everything in your home, and we can do that with Ace. The people in the community can buy the Ace brand with confidence because it’s proven to be a good quality product. Jorge Ossa  Commercial Manager, Cemaco – Guatemala (ACE Hardware Corporation, 2012). ACE has established an accurate and demonstrated operating model for effective and efficient distribution allowing ACE Hardware retailers the wholesale benefit they require to be successful and profitable. Below are the some of the wholesale advantages available for ACE Hardware store owners:- * Lowest cost of goods * Named #1 Distributor according to Home Channel News in 2009, 2010 and 2011. (Home Channel News, August 2011) * #1 in wholesale sales at $3. 5 billion (Hardware Retailing, December 2010 ) * The combined buying power of over 4,100 locations To support the growing number of international ACE retailers and leverage international wholesale opportunities, ACE opened the Ace Global Distribution (ASG) warehouse in Shanghai, China 2006 (ACE Hardware, 2012). 3. 2 Legal Structure Each Ace Hardware store is individually owned and operated by local entrepreneurs – hard-working, passionate business owners who are involved with and, many times, exist in the communities where their stores are based (Ace Hardware Corporation, 2012). . 3 History ACE Hardware organisation was founded when Richard Hesse, Frank Burke, Oscar Fisher, E. Gunnard Linquist, William Stauber unified to form a purchasing and advertising enterprise among their Chicago- area hardware stores. Moreover, their combined buying power allowed the store owners to negotiate lower prices on merchandise acquired from wholesalers. Therefore, embracing the ACE name in 1927 and incorporated the succeeding year. Frank Burke served as president of the group and was succeeded by Richard Hesse in 1930. Over the next two years the firm progressed into a hardware organisation, obtaining directly from producers and storing merchandise in its own warehouse in Chicago. This strategy allowed ACE to further reduce costs by removing ‘middlemen’ wholesalers (Anonymous, 2012). Moreover, during its first half-century of operation, ACE was basically a conformist wholesale group, and its profits were distributed equally among shareholders. The company’s low-cost purchasing and distribution procedures quickly enticed new employees and franchisees. By the mid – 1930’s, the organisation had 41 members and sales of more than $650,000. Throughout history, ACE has accomplished to solidify their position as one of the strongest and leading competitors in the hardware industry. 3. 3. 1 Mission The mission of the ACE team is to ensure that their customers are satisfied. According to (Anonymous, 2012), â€Å"When something goes other than the way it was planned, we do everything in our power to make it right. You have the ACE promise on that†. In relation to corporate social responsibility (CSR), ACE Hardware has partnered with the CMN hospitals to give back to communities. The ACE Foundation has raised over $50 million since 1991 to help sick and needy children through partnerships with Children’s Miracle Network (CMN) hospitals. ACE also supports the American Red Cross Natural Disaster Relief Fund through donations of work gloves, shovels, mops, bottled water and more (ACE Hardware Corporation, 2012). Once again, ACE is proud to serve as a sponsor of the Champions program. The retail stores and ACE foundation organise a myriad of fundraising initiatives, many of which our generous customers are welcome to get involved. Furthermore, these fun and unique experiences raise much-needed funds that essentially result in the power to change lives and treat sick children at the Children’s Miracle Network Hospitals around the United States. Miracle Jeans Weeks is a program where employees throughout the company wear jeans during the company’s five designated Miracle Jeans Weeks each year. Furthermore, with a cost of $1 per day and almost 900 people on campus, it’s never in doubt that thousands of dollars are raised yearly from this enterprise. 3. 3. 2 Goals amp; Objectives One of ACE’s goals is customer satisfaction as they value their customers. â€Å"We know our customers want to be spoken to in a more personal manner, rather than in a blast† says Rich Neal who is ACE’s one-to-one manager. â€Å"So we have robust analytics team, and follow-up purchases with thank-you emails and direct mail, broken down into eight categories, including grilling and lawn and garden† (Mahoney, 2011). Therefore, for ACE Hardware customer satisfaction isn’t just an idea, it’s basically the entire purpose. According to (Marketing charts staff, 2011), J. D Power and Associates (2011) U. S Home Improvement Retailer Satisfaction Study, Ace Hardware ranks highest in satisfying home improvement retail store consumers, accomplishing a score of 786 on a 1,000-point scale, for the fifth consecutive year.. The study, now in its fifth year, measures customer satisfaction with home improvement retail stores which is built on the overall performance on five aspects: staff and service; store facility (including merchandise and cleanliness); merchandise (product information details); price; sales and promotions. 3. 4 Company Structure Aces Board of Directors establishes guidelines for Ace management. There are between nine to 12 director positions. Ray Griffith assumes the role of president and CEO and David Ziegler as the chairman of the board. 4. 0 Ace Product analysis: Ace hardware store offers an extensive range of more than 30,000 quality household products from kitchen mops to garden furniture and camping equipment. Ace’s product range consists of the everyday items such as sponges and shower curtains as well as occasional purchases such as wall paints and lawnmowers. Ace’s Products are categorized into: Outdoor Lifestyle: Ace has a wide range of outdoor lifestyle products to suit distinct tastes and needs -Outdoor furniture -Camping -Barbeque -Pools and spas -Outdoor constructions Gardening: a stimulating selection to meet outdoor gardening needs. -Gardening tools -Seeds -Indoor/outdoor plants -Pots and vases -Watering -Fertilizers and chemicals -Landscaping -Fencing and edging -Water features -Garden decor -Garden lighting -Shades and turf DIY: With the widest product range, competitive prices and informed staff, ACE is the choice for D. I. Y. enthusiasts. All ACE stores offer a wide selection of Tools, components and essentials for DIY as well as the biggest range of world renowned brands in power tools. ACE also provides free advice and solutions on any hardware or D. I. Y problem as well as free repairs on power tools under warranty. -Power tools -Hand tools -Hardware -Fastenings and fixings -Tool Storage -Timber -Electrical -Security Equipment -Safety Automotive: Ace has a wide range of quality automotive products. From accessories, cleaning and car care products, sunshades, 4X4 accessories and emergency kits to enhance the looks and performance of your vehicle. 44 adventure -Car Cleaning and Maintenance -Car Interior -Emergency and Safety Painting and Decorating: Ace offers more than 16,000 colors of paints; customers also can mix their own colors to come up with their ideal paint pallet. Ace provides all the necessities needed to complete the process of decorating homes. -Paints -Paint Equipment -Adhesive and fillers -Wall coveri ng -Arts, crafts and hobbies Home ware: ACE home ware has a complete range of lifestyle accessories all under one roof. -Cleaning, Laundry -Storage, Packaging -Living -Bed and Bath -Kitchen -Electrical -Wellness Pet Care: ACE offers a range of pet supplies and related pet products and accessories catering to dogs, cats, birds and fish. Ranges vary from pet food, toys and other essential pet care accessories. Services: Rental service: The Ace Rental Place offers a wide variety of equipment for rent on a daily, weekly or even monthly basis, great for items required for few usages or simply to try them out before deciding on the purchase. All rental items are well maintained with expert customer service. Customers can rent the following items:- †¢4 Burner Gas Barbeque †¢Upholstery/Carpet Cleaner †¢Generator †¢High Pressure Cleaner †¢Port-a-cool Ladder 16ft Multi-master In store services: -Assembly Installation/key cutting -Automotive chip key cutting- Pipe Cutting and Threading -Blade sharpening Screen Repair -Computerized paint – color matching- Small Engine Repair -Delivery- Special Order Services -Glass and acrylic sheet cutting -Glass repair -In store lock servicing 4. 1 Customer profile/demand analysis: Aces vast range of products and services encourages a diverse range of customers with different needs and wants. Hardware stores in general often prioritize their target market as home owners as the products they offer are mostly for household use. Ace is more than just a hardware store that just sells tools for men, it’s a superstore that attracts both men and women who are making decisions in the appearance and upholding of their homes. Loyal customers As part of a customer retention strategy the Ace marketers have focused their attention on customer insights, by creating a card-based loyalty club – the Helpful Hardware Club (HHC) customers at the store can sign up to the program making them eligible purchase discounts and special offers. Ace targeted the Lifestyle segment to boost their retention program causing evenues to rise 5. 4 percent as lapsed customers were enticed by discounts to return to their local Ace stores. (Nielsen 2009) Aces product portfolio also consists of outdoor leisure activities targeting consumers that are not necessarily home owners or prime decision maker with the household. Products for occasions such as camping or barbequing target a segment of active leisure consumers. This segment broadens ACEs target market outside home owners. The demand is not only in home improvement products but also in the items needed to care for them. This demand has forced manufacturers to introduce a large range of new cleaning products which targets upscale shoppers who desire convenience and a more natural, non-toxic product. Current market Bahrain is regionally known for its cosmopolitan lifestyle suggesting sophisticated consumers, with their relatively high purchasing power these consumers have a high willingness to spend especially on premium products and brands. 4. 2 Competitive situation: (Ellen 2010) Ace Hardware Corp the largest retailer-owned cooperative in the hardware industry by sales and the second largest dealer-owned cooperative in the United States. Ace’s innovation is what led them to establish the strong position they hold today. With over 4,000 stores in 60 different countries ACE hardware were ranked 8th in franchise directs top 100 global franchise’s (Francise Direct 2012). Ace hardware store faces intense competition within the United States. The US home center, hardware store and home improvement retail industry includes about 23,000 hardware stores and home centers with combined annual revenue of about $150 billion. The home center segment of the industry is highly concentrated: the top four companies account for more than 90 percent of segment revenue (Hoovers 2012) The success of individual companies depends highly on competing low-cost purchasing, effective merchandising, and competitive pricing. The top three competitors of ACE are:- †¢Lowe’s Companies Inc. †¢The Home Depot Inc. †¢Do it Best Corp Despite the intense competition in their domestic market, ACE has an opportunity in Bahrain as the Hardware store industry is not as well developed leaving space for entry in to the market. However, there will of course still be some Potential Competitors in Bahrain that Ace will have to face:- Ace’s direct competitor in Bahrain will be Manazel Hardware store; Manazel first opened its doors in October 1995 at Salmabad, Bahrain. It is a family owned business based in Bahrain. Carrying more than 50,000 products ranging in over 20 categories, some of which include: Furniture, Home ware, Hardware, Bathroom amp; Plumbing accessories, paint and Sundries, Outdoor Living, Garden Furniture and Accessories. Their Materials are sourced from all around the world to provide everything for your home and garden. Manazel 2012) Ace could initially face challenges competing with Manazel due to it being a locally based company, depending on the loyalty of their consumers it could be difficult in convincing them to switch to ACE. Ace has the advantage of being a well-established global brand and with the high rate of expatriates in Bahrain they may naturally prefer to switch to a mo re recognized brand. Ace will also face competition amongst the small local hardware and tool stores. These stores are popular amongst price sensitive customers. 5. 0 Environmental factors 5. 1 Host Country Business Climate: Bahrain offers very distinctive traits in the Middle East. It enjoys a stable economy climate and competitive costs. It has an amazingly business friendly climate which is an attraction for ACE and other companies to do business in this country, it has an excellent regulatory framework, and supportive government policy (Najjar 2011) The Host country for ACE Hardware is Bahrain, Bahrain is an Arab country with a total land Area of 712 square kilometres, a population of about 1,234,571 (end of 2012), out of which 666,172 are locals, according to the central bank of Bahrain. The main towns in Bahrain are Manama and Musharraq, the climate is mainly very hot and humid, language is mainly Arabic, but English is widely spoken. The metric systems used include 1dhara=48. 26 cm, 1 rafa=254 kg, the currency is the Bahraini Dinar (BD) = 2. 65 USD, the Time is 3 hours ahead GMT (Bahrain: Basic Data 2012). Bahrain is an Arab country and has the monarchy system, the ruler, king Hamad bin Isa al-Khalifa is expected to be secure for some ime to come; the Al-Khalifa family has control over most of the executive branches of government and legislature remaining weak. There will however always be primary tension over economic and financial inequalities, with the halting pace of political liberalisation of sectarian discrimination. Real GDP growth for Bahrain was expected to slow down to 3. 1% in 2009, as mainly international demand for Bahrain exports is weakening, but was expected to recover to 3. % in 2010 (Bahrain economy, 2009), and is expected to rise up to 4-5% in 2 012 due to increases in crude oil production, manufacturing and government spending according to the Economic Development Board (EDB) (Andy 2012). Bahrain’s business climate in 2007 attracted almost $1 billion worth of investments in new projects in 2007 as reported by Dr Hassan Fakhro minister of Industry and Commerce, He also went ahead to mention that new investments in the new projects were worth 373. 3m Bahraini currency, which is about $987. 6 million and these new projects also created about 13, 536 jobs in the country (Middle East Financial News 2008). Oil production output from Bahrain’s single aground field is in decline however, and the monarchy government is aware of the country’s vulnerability to changes in oil prices globally, with oil being the major source of government revenue for the country accounting to more than 70% of the economy. The economy of the country also relies heavily on goodwill received from Saudi Arabia, which runs a large offshore oil field whose production it shares with Bahrain. All these limited resources has made Bahraini government to have the strategy of diversification in order to prosper, increase the role of the private sector and provide a welcoming environment for foreign investment. FIGURE 1. 0: BAHRAINI GDP 2001-2012 BAHRAINGDP GROWTH 2001-2012 200120022003200420052006200720082009201020112012 4. 6%5. 2%7. 2%5. 6%7. 9%6. 7%8. 4%6. 3%3. 1%4. 5%1. 8%2% SOURCE: global finance: Bahrain Country Report 5. 2 SWOT ANALYSIS: Strengths; ACE hardware is a strong brand both across the USA and the world stage, with more and more expansion into the global markets into several countries across all the continents of the world. ACE has the resources and ability to pursue growth in multiple directions, with the ACE leadership team making a smart decision of focusing on their paint production, which has made them gain a huge customer base and customer loyalty (Bueno 2012). In 2010 ACE hardware has generated in excess of $3. 45 billion in wholesale and retailers enjoyed the added bonus of collective buying power at this volume by getting a decreased cost in goods, which has built the basic foundation for a more profitable option (ACE 2011). ACE produces many DIY products and many changes have taken place in this market over the last 85 years, ACE ownership however still remains the on top in customer satisfaction according to Business week and was ranked â€Å"highest in customer satisfaction Among home improvement stores four years in a row† (JD power and Associates) ACE hardware also enjoys major success in the market share with the help of top of the range advertisement and reduced goods cost, it has slowly established itself to be a major player in the global market for hardware products. ACE also expanding its wings to get a piece of the business boom, and with the advantage of an established brand name, it will be relatively easy to penetrate under developed markets as more businesses would want a merger with them as opposed to its rival companies. ACE is a sophisticate and established brand worldwide, and has adopted the new technologies as they come which has giving the company a competitive advantage as they are more organised and technologically more advanced, which has led to reduction in production costs for the company. The expansion of ACE into the global market has seen it gain market share, more so than their competitors such as Home Depot, Lowe’s etc. Weaknesses; ACE hardware has relatively small stores, compared to their rival companies like Lowe’s, Home Depot and Menards on selection ACE Hardware in 2008 reported a net income of $10. 8 million for the first quarter of 2008, which was a decrease as compared to 2007 when they reported $14. 1 million which was a $3. 3 million decrease. The company also reported earning s before interests and taxes of $13. million in the first quarter of 2008 as compared to $29. 2 million in the first quarter of 2007 (9) ACE hardware has encountered losses resulting from physical damage to breakdown of its computers in the European market, which has led to replace damaged computer hardware, the reinstatement of lost programs or Data and also had to increase working costs as a result of the problems (10). Opportunities Bahrain’s financial freed om ranking is 77. 7, making its economic system the Tenth freest in this years Catalog (2012). Its overall ranking is 1. 4 points higher than last year, with upgrades in trade freedom; investment freedom, work freedom, and freedom from data file crime error. Bahrain is rated 1st out of 17 nations in the Centre East/North African-American area, and its financial freedom ranking is well above the world average (Bahraini economic development Board, 2012) from the perspective of Ace this reduces business constraints giving them the freedom to commercialize their brand and reduces limitations on investment. Situated near commercial establishments in the Gulf with a causeway relationship with Saudi Arabia and the rest of the GCC, Bahrain is seen as a gateway to the Gulf, an industry of over 100 thousand individuals. Bahrains variety and openness keeps presenting opportunities for exporters. It has the most varied economic system in the Gulf Bahrain does not currently have a competitive hardware industry with only a few entrants and one major Hardware store giving ACE the flexibility to enter and the means to operate however they choose. The hardware market ACE is involved in is a highly competitive market, it takes a lot of marketing research by ACE and expensive research and new technological adaptations for the company to stay ahead of competition, couple with the reduced purchasing power of consumers due to economic downturns globally have been detrimental to business for ACE. Threats The law requires that you have a local partner who maintains most majority interest and can therefore manage the company and can close it anytime he wishes. The local partner, be it an organization or an individual, does not need to give rise to the start-up financial commitment or take part financially at all. (Bahrain, 2010). This could mean lack of security for ACE as there is the chance of being closed down with no warning or notice. The changes in labor Laws and regulations constantly by the US and other countries have been detrimental to their expansion, other domestic and international factors also have to be considered by ACE before entering into any market in any country, such as culture, corporate social responsibility obligations are all external factors that ACE has to consider. The process of opening a business in Bahrain is complicated and economically dangerous, significance that local information is essential. You must also seek advice from a good attorney from the beginning. A knowledgeable attorney will provide information to you through the signing up complications and his help will be important in defending your interests. This is applicable whether you are starting a moderate shop or a big enterprise (Bahrain 2010) The current Political unrest in Bahrain creates an unpredictable business environment. If the unrest becomes worse this could have major effects on Ace’s business activities in the region, currency fluctuations and could see reductions in the amount of expatriates present in Bahrain causing Ace to lose a large part of their target market. 5. 3 Government constraints in Bahrain Economic growth The economic growth is for Bahrain is likely to slow down in Bahrain; it went down to 3. 3% in 2010 as regional growth in the country as government finances are getting squeezed. Local consumption of private homes and offices is expected to slow sharply, with no a real positive growth in the employment sector. However government consumption growth in Bahrain is forecasted to also slow down. For ACE however the major demeaning factor of business entry into Bahrain would be the limited fiscal constraints in the country, as well as the subdued outlook for global direct investments flows. And the demand for exports and of goods and services is also forecasted to decline, ACE might have a hard time penetrating into the Bahraini market (Ace Hardware 2008). Economic policy An advantage for ACE going into the Bahraini market is the countries determination to move away from the oil sector. The government is determined to stimulate the private sector growth and foreign investments, and address high unemployment problems (Bahrain News Agency 2012) this would be an advantage to ACE as the government will give them an advantage of being accepted into the country without many business constraints. They can be assured of government support which is a large determinant of business success or failure for any business going into another country. Inflation and the exchange rate Consumer price inflation is expected to moderate in the coming years because of slower domestic demand growth. But with a relatively strong currency against the Euro and the Dollar inflation is expected to slow down an average of 1. 8% in 2009-2010. The Bahraini government is intending to enter into a currency agreement with Saudi Arabia, Kuwait and Qatar, and with the UAE, which has pulled out though, and the government and the central bank of Bahrain is expected to maintain the dinar’s value and peg it at the rate of BD0. 67=$1 that has been in place for 3 decades (Bahrain News Agency, 2012). Setting up a business in Bahrain For ACE hardware it would be good news for them to know that Bahrain is ranked first in the Economic freedom index in the Middle East and North Africa (MENA) region, and is seventh overall globally according to the Fraser institute Report 2012. The report by Fraser classifies these countries by using themes such as governm ent volumes, legal system, and intellectual property rights security, accessibility to sound funds, freedom of international trade and organization credit, manpower and companies. All these factors are important criteria to be considered by ACE before going into business in Bahrain. 5. 4 PEST ANALYSIS Political Legal Environmental Laws Bahrain has set up a strict law on polluters as fines of up to $133,000 are issues under Bahrain’s new environmental protection law, this is the first law of it ‘s kind related to anti-pollution in the Persian Gulf state. This law covers everything from car emissions, noise and workplace pollution, as well as handling and disposing of hazardous waste materials and chemicals. This is in accordance with what ACE has to achieve to be successful in Bahrain by practicing Corporate Social responsibility (CRS) to maintain the environment in Bahrain or risk serious government and legal issues (Pittsburgh Post, 1996) Stability of the Government Bahrain has entered into an era of instability due to a combination of the Arab spring recently, longstanding local grievances, the competition of regional powers and other external forces. The solution to this problems can be dialogue between the ruling Al-Khalifa Family and all opposition parties. The crisis has however slowed down in recent times with more and more dialogue and compromises being reached between both parties (Bahrain’s Quest for Stability 2012). Economic GEP growth in Bahrain In 2004 the Bahraini GDP has been reported by the ministry of commerce to have grown by 5. 2% from the previous year, this has been largely due to increase in foreign direct investment flow (Middle East 2004) and has been growing ever since with a reported GDP of 2. 1% increase in 2012. Currency The Bahraini currency is the Dinar and at 0. 67 Dinar to a US Dollar it is one of the strongest currencies when it comes to exchange in the World. Consumer price inflation is expected to moderate in the coming years because of slower domestic demand growth. This for ACE can only mean good news as it will be a positive currency to work with and no inflation worries that have to be considered by ACE. Social Population distribution in Bahrain The Bahraini age distribution has been as of the ye ar 2010 the kingdom was 1,234,571, part of which 568,399 were locals and the other 666, 172 were non Bahrainis. This from 2001 the population was 650, 604, this is an increase of 89. %. However, the population of the locals has decreased from 2001 to 2010 reaching 46% from the previous 62% in 2001. The proportion of the population of Bahrainis in the total population during the period from 2001 to 2010 decreased, reaching 46% in 2010; while the corresponding figure in 2001 was 62%. The percentage of non-Bahrainis increased 54% in 2010 while it was 38% in 2001 (Census, 2010). This shows an increased number of expats coming into the country which will mean for ACE that products should not only be made to suit the local citizens but the majority foreigners, which means overall business strategy has to change. Religion and Language: The official language in Bahrain is Arabic; however English is widely spoken mainly in business meetings and other social interactions. The non-Bahraini in the country mainly speak Farsi an Iranian language, or Urdu which is a Pakistani language. The main religion in Bahrain is Islam, which is the 2nd largest religion in the world, Muslims in fast for a month every year in the month of Ramadan. The Bahrainis though make use of both the Islamic and western calendar but mainly use the western calendar for business operations. Business meeting etiquette Appointments are necessary, morning meetings are preferred. However meetings are not advised during the months of August and July because most Bahrainis travel out the country when the heat is at its worst. , they are quite time conscious, so arrive at meetings on time. Personal topics should generally be avoided unless the relationship has developed or there is need to discuss matters confidentially. Bahrainis usually have an open door policy, so meetings do get interruptions. Business meetings also start after a long talk about health, family etc. Business Negotiation Etiquette The building of trust is important since trust is required in order to conduct business. Bahrainis are very time conscious and time driven, the actual meeting is more important than the timeliness or outcome. Bahraini organizations are hierarchal, the highest ranking employee or worker reaches decision. Decisions are top down and lower level employees usually have no say. Decisions take a lot of time; if you try to rush it will be perceived as rude and disrespectful. Technological The economic system in Bahrain relies upon intensely on innovative petrochemical technology, and many Bahrainis have had or are getting specialized training at several universities all over the country. Technology is just coming up in Bahrain with many projects being undertaken in recent times, but perhaps the most important is the Bahrain Green Tech EXPO which is dedicated to the green consumer products. Due to the high demand for environmental protection globally, Bahrain has taken this as the only business to business trade show focused specifically on ECO friendly consumer products. 6. 0 Business Strategies 6. 1 Product /service positioning Positioning is what the customer believes about your product’s value, feature, and benefits, it is a comparison to the other available alternatives offered by the competition (Jackson, 2012). Some basic strategies include:- By attribute or benefit This is the most frequently used strategy in positioning. In this case, Ace hardware’s products are mostly house used products, and the benefits they can give to the customers are the after service, and the quality. The after service they give is mostly repairing, assembling and delivery. Level of service and quality of a product offering are the main influences of developing a strong brand image. By user Customers often choose brands that identify with their own self-image. Ace should position itself to suit the image of the end user. Therefore ace should focus on the wants and needs of their target audience and how they perceive themselves and the brand. By competitor Competition wouldnt be much of an issue for Ace since they would be entering a market that is not fully developed in Bahrain with few competitors. But they should remain aware of new entrants which are always a possibility and they need to be aware of the changes that may occur. By price or quality Price and quality are directly related in minds of consumers, People are willing to pay premium prices for premium brands that are have high quality. It is very important for Ace to identify where they want to be placed on the pricing matrix shown in figure 1. Ace product offerings vary in brands therefore prices will also vary depending on brand and quality. 6. 2 Pricing strategy Because of Ace’s diverse product range of brands they would need to use more than one pricing strategy. Using the pricing matrix above ace could use this as a guidance to set appropriate pricing strategies. Premium Pricing: One pricing strategy suitable for Aces different brands is premium pricing. Certain brands offered by Ace are luxurious brands with high quality and high price. It is clear on the matrix for these products Ace should use premium pricing which allocates high prices to those brands Economy Pricing: Ace also offers products at more affordable prices however they may have lower quality then premium brands. These types of products attracts customers that are not willing to spend excess amounts of money and would rather spend less for less quality Competitive Pricing: ACE could also use competitive pricing strategy to set benchmarks on their own prices. This strategy is most effective when there are limited competitors in the market which is the case for ACE and Manazel. Ace has a clear advantage over Manazel as it is a globally established company enabling them to set their prices slightly higher than Manazels. Estimated Selling Price: The estimated selling price for ACE hardware products in Bahrain would have to be set under consideration of several factors, such as the GDP of the country, the purchasing power of the country, the competitor prices and the strength of the Bahraini currency The GDP is the value of all final goods and services produced within a nation over a period of a given year. The Gross domestic products (GDP) of Bahrain is the lowest in the Middle East with a reported $32 billion in 2011, however when it comes to consumer purchasing power of Bahrain, it is ranked fifth in the Middle East with a reported $27,900 in 2011. ACE can base it’s pricing on this and compare to its most similar market which is the UAE which is ranked second on the purchasing power list in the Middle East with $48,800 in 2011 (Index mundi, 2012) The Bahraini currency is a major factor for setting prices, comparing to the UAE market which is the closest to Bahrain both geographically and economically 1 Bahraini Dinar = AED 9. 7 so prices can be higher for the Bahraini market considering the difference in currency strength. Bahrainis live a very cosmopolitan lifestyle and would be prepared to buy from expensive and established brands (Numbeo, 2012), which will mean ACE, shouldn’t face many issues setting medium to high prices in Bahrain. But for the large number of expat s in Bahrain ACE has to adapt itself due to the target market it has set for itself when setting prices. Expats are genuinely not price sensitive when it comes to purchasing from known global brands as they find it easier to trust brands they are familiar with. The most important factor however is comparison of process with its main competitor in Bahrain which is Manazel; this company has built its reputation in Bahrain as one of the best Hardware stores and offers discounts and promotional vouchers to loyal customers (Manazel, 2012) which will mean stiff competition for prices for ACE. However, due to lack of information on actual goods prices for Manazel, ACE can do further research and sets it prices on information found. 6. Distribution and logistics Ace products will be available to customers through two sources: Retail sales: as many of its branches worldwide also provide retail shops, similar shops should also be provided in Bahrain in different major cities, to make the products more accessible to customers in more varieties, and as shopping is part of the Bahrainis past time this will be a major attributor to its overall sales. It will also increase overall brand popularity of ACE in Bahrain. Online store catalogue: ACE provides this service for many of its branches in different countries worldwide, but as internet commerce is not popular in Bahraini ACE should not expect major traffic on these online websites. Ace currently has distribution centers located in various parts of the world to enable more efficiency for their global stores at different pin-points. This way transport costs can be cut as well as time on delivering inventory. The closest distribution center to Bahrain is currently in UAE being operated by the Al Futtaim group. Ace can extend their current agreement with Al Futtaim for them to deliver across to Bahrain and take care of their inventory as well as the UAE. 6. 4 Promotion and Advertising Promotion ACE’s competitor in Bahrain Manazel offers various promotional vouchers and discounts to its customers, should be a model ACE will focus on that will help it gain more popularity with customers. Coupons, discount vouchers, loyalty cards should all be included as promotional tools by ACE and all promotional activity should reflect the goal ACE wants to be perceived as which is ‘the helpful store†. Advertising The most important part of marketing for any product is advertising, there are several tools ACE could you to get its name out in Bahrain which include, word of mouth, billboards on (major signs, buses etc. ) radio adverts, Television and much more. Due to culture and market similarities with the UAE ACE could use existing ads in Bahrain to cut costs in advertising research. 6. 5 Estimated sales/sales mix A sales mix is the specific sales of each product offered by a company in comparison to total product sales. Businesses commonly track this information to figure out exactly how much profit they make or can make when marketing a range of items or services. The sales mix of products will often impact an organization’s bottom line. 6. 6 Production/service strategies Production or operations strategy refers to the pattern of decisions or course of action that the organization takes to produce goods and services. The production strategy shows the direction the production or operations function of an enterprise should take. It has important consequences for the way production resources are selected, deployed and managed (Sarkissian. 2012). 7. Financial Planning â€Å"Financial planning is the process of meeting your life dreams/goals through the proper management of your finance† (Beniwal, 2010). This allows the usage of several financial tools such as Profit and Loss Statements, Cash Flow Projection and Financial Analysis to basically achieve financial objectives. 7. 1 Profit and Loss Statement Below is the Condensed Consolidated Statements of Income (Unaudited) for the three and nine months ended September 29, 2012 and October 1, 2011. ACE HARDWARE CORPORATION| | | | | | | | CONDENSED CONSOLIDATED STATEMENTS OF INCOME| | | | | | | (Unaudited, in millions)| | | | | | | | | | Three Months Ended| | | Nine Months Ended| | | September 29,| | October 1,| | September 29,| | October 1,| | | | 2012| | | 2011| | | 2012| | | 2011| | | (13 Weeks)| | (13 Weeks)| | (39 Weeks)| | (39 Weeks)| | Revenues| $| 949. 9| $| 912. 0| $| 2,929. 0| $| 2,787. 5| | | | | | | | | | | | Cost of revenues| | 826. 1| | | 797. 6| | | 2,564. 3| | | 2,449. 3| | | | | | | | | | | | | | | Gross profit| | 123. 8| | | 114. 4| | | 364. 7| | | 338. 2| | Distribution operations expenses| | 25. 1| | | 26. 2| | | 74. 4| | | 70. 7| | | | | | | | | | | | | | | Selling, general and administrative expenses| | 35. | | | 36. 2| | | 104. 5| | | 104. 3| | | | | | | | | | | | | | | Retail success and developme nt expenses| | 26. 2| | | 27. 6| | | 91. 5| | | 84. 1| | | | | | | | | | | | | | | Total operating expenses| | 86. 8| | | 90. 0| | | 270. 4| | | 259. 1| | Operating income| | 37. 0| | | 24. 4| | | 94. 3| | | 79. 1| | | | | | | | | | | | | | | Interest expense| | (4. 2)| | | (8. 9)| | | (20. 2)| | | (27. 8)| | | | | | | | | | | | | | | Loss on early extinguishment of debt| | -| | | -| | | (19. 9)| | | -| | | | | | | | | | | | | | | Interest income| | 1. 0| | | 1. 5| | | 2. | | | 3. 8| | | | | | | | | | | | | | | Other income, net| | 1. 7| | | 1. 5| | | 5. 0| | | 6. 1| | | | | | | | | | | | | | | Income tax expense| | (0. 9)| | | (1. 4)| | | (2. 4)| | | (2. 4)| | | | | | | | | | | | | | | Net income| | 34. 6| | | 17. 1| | | 59. 7| | | 58. 8| | Less: net income attributable to non-controlling interests| | 0. 3| | | 0. 1| | | 0. 3| | | 0. 3| | | | | | | | | | | | | | | Net income attributable to Ace Hardware Corporation| $| 34. 3| | $| 17. 0| | $| 59. 4| | $| 58. 5| | Accrued patronage distributions| $| 33. 3| | $| 15. 2| | $| 57. 0| $| 53. | | See accompanying notes to the condensed consolidated financial statements. | | | | | Ray AGriffith, GuziK, William M amp; Gast, Erik D. , 2012). | | | | | | | | | | | | | ACE HARDWARE CORPORATION| | | | | | CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS| | | | (Unaudited, in millions)| | | | | | | | Nine Months Ended| | September 29,| | | October 1,| | | 2012| | | 2011| | | (39 Weeks)| | | (39 Weeks)| Operating Activities| | | | | | Net income| $| 59. 7| $| 58. 8| Adjustments to reconcile net income to net cash provided by operating activities:| | | | | | Depreciation and amortization| | 30. | | | 29. 0| Amortization of deferred gain on sale leaseback| | (0. 9)| | | (0. 9)| Amortization of deferred financing costs| | 1. 6| | | 2. 2| Gain on disposal of assets, net| | -| | | (2. 0)| Provision for doubtful accounts| | 2. 8| | | 3. 2| Loss on early extinguishment of debt| | 19. 9| | | -| Other, net| | 0. 2| | | -| Changes in operating assets and liabilities:| | | | | | Receivables| | (43. 2)| | | (39. 0)| Inventories| | (28. 9)| | | (68. 9)| Other current assets| | (2. 6)| | | 2. 7| Other long-term assets| | (7. 0)| | | (8. 0)| Accounts payable and accrued expenses| | 32. 6| | | 72. | Other long-term liabilities| | 6. 0| | | 2. 2| Deferred taxes| | 1. 1| | | 5. 0| Net cash provided by operating activities| | 71. 3| | | 56. 6| Investing Activities| | | | | | Purchases of marketable securities| | (9. 0)| | | (46. 1)| Proceeds from sale of marketable securities| | 8. 6| | | 46. 3| Purchases of property and equipment| | (31. 2)| | | (19. 5)| Decrease in notes receivable, net| | 1. 6| | | 1. 4| Other| | 0. 1| | | 0. 1| Net cash used in investing activities| | (29. 9)| | | (17. 8)| Financing Activities| | | | | | Net borrowings under revolving line of credit| | 113. 0| | | 9. | Proceeds from issuance of long-term debt| | 200. 0| | | -| Redemption of senior notes| | (301. 3)| | | -| Principal payments on long- term debt| | (7. 5)| | | (4. 0)| Payments of deferred financing costs| | (5. 2)| | | -| Payments of cash portion of patronage distribution| | (27. 7)| | | (26. 4)| Cash Flow Projection Condensed Consolidated Statements of Cash Flows (Unaudited) for the nine months ended September 29, 2012 and October 1, 2011 Payments of patronage refund certificates| | (17. 3)| | | (17. 3)| Proceeds from sale of noncontrolling interests| | 0. 3| | | 8. 8| Other| | 0. 6| | | 0. | Net cash used in financing activities| | (45. 1)| | | (29. 2)| (Decrease) increase in cash and cash equivalents| | (3. 7)| | | 9. 6| Cash and cash equivalents at beginning of period| | 15. 8| | | 9. 3| Cash and cash equivalents at end of period| $| 12. 1| $| 18. 9| Supplemental disclosure of cash flow information:| | | | | | Interest paid| $| 21. 3| | $| 20. 1| Income taxes paid| $| 0. 9| $| 0. 5| See accompanying notes to the condensed consolidated financial statements. | | | | 6| | | | | | (Ray A Griffith, GuziK, William M amp; Gast, Erik D. , 2012 8. 0 Management considerations ACE will undertake a big change in bringing ACE hardware to Bahrain, Bahrain overall will be a good prospect as the company has penetrated a similar market in the Middle East (i. e. United Arab Emirates) and with a very stable economy and freedom of business with no government interruptions it will be a relatively easy venture for an established brand such as ACE. However the management at ACE has to consider several factors that will make the venture a more smooth transition, such as trying a joint venture with a local business, culture considerations so as not to put out unethical products. 8. Personnel/sales force factors A sharp forecast of more and employees getting into the professional field in Bahrain, and the stiff rise in population over recent years and also the preferences giving to the locals in hiring, ACE hardware has to take into considerations means and processes of hiring its employees, personnel training and qualification has to be of the highest standard and profe ssional communication skills has to be a criteria in hiring employees 8. 2 Business Advisors: With the help of a business advisor Ace could more effectively implement their strategy to break into the market in Bahrain. An effective business advisor would ensure a smoother transition by assisting ace in dealing with the laws and regulations entering the market and guiding them through government policies. Due to Aces existing established stores already present in the UAE the corporation already has knowledge on the different structures of setting up business in the Middle East. Business advisors in Bahrain would help them in ways more specific to the Bahrain market and can also help them with most effective Methods of Marketing in the country and the most effective locations to set up stores. 9. Recommendations/Conclusion Ace should undertake an aggressive marketing campaign upon entering the market in order to create brand awareness using ‘Coming soon† promotions to build up the hype of the store. Ace should engage with local business advisors in Bahrain to help guide them with cultural differences and deal with government legislations and regulations. Ace should undertake further Exten sive research to gain a better understanding on aspects of the Bahrain hardware market and to know their potential competitors and their offerings more in order to price, promote and operate more effectively.