Correlation Between Sales And Brand Value Marketing Essay

Correlation Between Sales And Brand Value Marketing Essay In the marketing concept, brand differentiates a product and services from its competitors. Brand affects consumers not only because of the knowledge systems that consumers know about the brands but it is also part of psycho-social-cultural context (Esch et al., 2006). Hence, it is very important to build a strong brand as it act as one of the contributing factor in sustaining companys performance of which the value of a company relies on its current earnings that potentially will develop its future financial performance. For instance, the powerful global companies take advantage on its brand as a contribution factor to their continuing success (Davis, 2002). Brand is classified as an important asset to the company as it helps in the generation of cash. Moreover, it has an impact to the company as the business is worth more due to its position of the brand in the market. The value of the brand is a reflection of the brand worth in regards to current and future income, reputation and market value. It is vital to understand the meaning of the brand value as it serves as a tool in determining the marketing strategy in each segment or target market. According to Gabay et al. (2009), brand value is related on how a brand is influence in the marketing mix as well as the impact of the brand name to the other features in the marketing concept. When a brand is managed well consistently, the brand value will appreciate over time that allows company to charge a premium over competitive offering leadings to a higher profit margin (Davis, 2002). A companys brand is directly related to the consumers as they are the one who decides on the purchase of a product. Brands that manage to segment its products appropriately in the competitive market will enable the company to attract consumers as well as maintaining the brand value that stands as a key point to compete in the future market. Each company would want to have a stable growth in its profitability and the key point to determine the success of the company will rely on its sales figures. As companies noticed the importance of a brand in its financial performance, huge investment has been made to ensure that its brand has a high brand value. For example, Coca-Cola is consistently investing in its brand to develop an emotional connection with the consumers. Consumers perceptions on a brand do play an important factor in the selection of the best brand for a particular product. It is important to build and have a brand value as it involve consumers understanding on what they are getting compared to what they are giving. There is a linkage between consumer loyalty and brand value. For example, if a particular brand maintains a significantly higher perception of value to a consumer than any other brand in the category, that consumer will consistently purchase that brand and consistently recommend that brand to others. As a result, consumers are confident in the product and directly will have an impact to the companys sales performance. According to the top 100 grocery brands in the United Kingdom (UK) report, it was noted that the sales pattern is related to consumers perception on the brands. Brands that have a high brand value have performed well in terms of its sales. Therefore, it seems that there is a relationship between sales and brand value. However, there is still uncertainty on the strength between the two variables. In view of this, it is viable to do a statistical analysis for further analysis on the said matter. 1.2 Previous work that has been done Brand is seen as a very important concept in the marketing perspective especially brand value which have a relationship between quality and price. High brand value is the most valuable asset for a company as it brings higher margins both short and long term (Esch et al., 2006) and host of other benefits (Oslon, 2008). By identifying the factors driving the brand values, it allows company to increase its brands performance which will result to an increase in revenue, larger market share and higher profits. Wood (2000) indicates that by using brand value as a performance measure, it creates a long term focus of the company. Research findings indicate that consumer buying behaviour is based on perception on a brand name (Gabay et al., 2009). Therefore, brand is seen as a contract with the consumers that reduce uncertainty which allows consumers to purchase uncertainty reduction or trust that leads to the increase of value (www.sdrnet.com,2010). Meanwhile according to Oslon (2008), brand creates value by generating demand and reducing risk through securing future earnings for the business which will result to creation of value for companies to its brands. Penrose and Moorhouse (1989) suggest that one important factor determining the value of the brand is its profitability. By knowing the brand value, it allows the company on how is the brand performing in the market. It is related to the element of acceptability and the strength of the brand as it is link to the consumers decision in buying a product. Blackett (1991) comment that there is a relationship between a brands strength and its ability to command future income. Therefore, the stronger the brand, company would be able to predict its future income conversely the weaker the brand, the less certain is its future. This indicates that the brand value will provide a company a clear idea of profitability from its various brands. A research was done against the most expensive leading global products and the findings indicate that each brand invest time and energy to manage its brand accordingly (Gabay et al., 2009). This shows an indication on how companies foresee the importance of b rand value. With a good brand, consumers will be prepared to pay a premium for the products and leads to a brand loyalty which will have value if the brand was ever sold. Research conducted earlier has found a relationship between sales and brand value (Gabay et al., 2009). Moreover, one of the factors determining the brand value is the strong brand acceptance in the market which is dependent on consumers. Research indicates that brand has the power to attract consumers and provide a guarantee of sales through premium price that provide a higher margin from the sale of the products (Blackett, 1991). Another research has found that there is strong correlation between strong brand value and its benefits of pricing, customer loyalty, market leadership and overall financial performance (Leiser, 2004). Moreover, Leiser (2004) and Davis (2002) also point out that there is relationship between customer loyalty with brand value and profitability as findings from a research indicate that 5% increase in customer loyalty could elevate profits by as much as 100%. Meanwhile, based on a study conducted in the hotel industry, it suggest a positive correlation between brand value and a firms performance in terms of profits and long-term cashflows (Kim, Kim and An, 2003). Based on the above, it can be summarise that there is relationship between brand and financial performance. 1.3 What would expect to discover For a product to be successful, it must have a good brand name. Once this has been establish in the market, it creates a powerful and lasting connection between consumers that leads to a positive effect of the product and simultaneously has an effect to the companys sales performance. Sales figure meanwhile definitely have several attributes to the company such as gaining market share and acceptability in the market. As a result of a positive trend in the sales figures, it helps the company to build its brand value in the market. Brands with high values are related to strong market share as it allows the company to bargain more effectively in terms of pricing and quality. Moreover, with the high market share, the brands have an advantage in economy of scales that leads to high sales figures. However in the year 2008, a number of discounted retailers entered the UK grocery market with their home brand at a low cost price. With the effect from the economic crisis, consumers buying trend has slightly shifted from high value brands to home brands which have low brand values. Although the current economy condition does have an impact across the sector, especially in the growth of own-label products, premium brands have still continue to perform well. From this report, it would like to see the relationship between sales and brand values as it is interrelated wherein with high brand value; the product has a control in the market and will lead to better sales in the future. 2.0 Description of data For the purpose of this report, the dependent and independent variables are sales and brand value respectively. Details of the data are attached in Appendix 1. The data is based on the top 100 grocery brands in the United Kingdom (UK) for the year 2008. However, for the purpose of this report, only top 78 grocery brands are used as the sample size due to lack of information of certain brands. The histograms for each variable are given in figure 1 and 2 respectively. The histogram for sales and brand value indicate that the most recorded value is  £168.7 million and  £174.07 million respectively. Meanwhile, the mean values are  £162 million and  £152.04 million for sales and brand value respectively. Based on the median for sale of  £162 million, the 95% confidence interval is between  £135 million to  £188 million while brand value is between  £121 million and  £184 million. It was noted that the distribution for both variables are positively skewed of which the lon g tail in on the right. Figure 1: Histogram for sales Figure 2: Histogram for brand value Figure 3: Normal distribution for sales The inference about the population mean is based on the following computation: 95% confidence interval = 162  ± (1.96 x 127) = (-86.92 to 410.92) Therefore, it believes that the population mean lies between - £86.92 million and 410.92 million. There is a 95% chance that this is true. 2.1 Source of data The brand value data was extracted from the report titled The UKs most valuable grocery brand 2008 prepared by www.intangible bussines.com. Meanwhile, the data for the sales value was obtained from the market research company, The Nielsen Company (2008) of which the data was recorded via checkout scanners at all major grocery chains totalling about 74,000 in the UK. The calculation of the brand value is computed based on its forecast sales, royalty and discount rate. Brand value Components: Sum of future royalty income Testing and benchmarking Discounted Components: Risk analysis Tax deduction Royalty rate Components Brand strength Royalty rate range Future sales Components: Historical sales Adjusted Compound Annual Growth Rate (CAGR) X , = Source: The top 100 grocery brands in the UK The future sale is based on the adjusted Compound Annual Growth Rate (CAGR) to reflect the brands long term ability for growth. The royalty rate is based on scoring of measurements i.e. preference, relevancy, heritage, perception and awareness that resulted to the brand strength for each brand. Meanwhile, discounted rate is computed by multiplying the royalty rate and reduced at the relevant tax rate. The discount rate reflects the time value and risk assessment based on 9% with the basis of the brands existence in a stable economic environment. Finally, results are tested and verified by to ensure the correct figures are used for the ranking purposes to avoid biasness. 3.0 Analysis 3.1 Scattergram and Correlation Before proceeding with the correlation between the two variables i.e. sales and brand value, a scattergram was applied to explore the relationship between the said variables. Scattergram is used as a preliminary step in investigating the existence of a relationship between two variables. In figure 4, the variables indicate a linear positive relationship which is suitable for the correlation analysis. Based on the said scattergram, it was observed that there are two values which are higher than the other values. After checking the values, it was discovered that the said variables have a very high value in sales compared to other brands. The main reason is because the two brands have a strong brand identity in the global market and is one of most respected brands in the market. Moreover, the small sample size might contribute to the finding of a number of outlying residuals. In considering the outliers, it was decided to maintain the variables as it does not have much impact to the r v alue if the same are removed. r= 0.948 Figure 4: Scattergrams and value of r In order to provide a precise measurement of the degree of correlation, the correlation coefficient is used to produce a mathematical measurement (Cohen and Holliday, 1996:80). The correlation analysis is applied to check the quantifiable relationship between two variables in terms of both the strength and direction. Based on figure 4 above, there is a large correlation i.e.0.95 between the two variables (above 0.5) which indicate a quite strong relationship between sales and brand value. Therefore, this result is interpreted in the manner that the amount of sale directly affects the brand value wherein the more sales take place, the higher the brand value. In order to decide the amount of association between the two variables justifies the sales to brand value, hypothesis testing is conducted. Null hypothesis Ho: p= 0, there is no association between sales and brand value. Alternative hypothesis H1=p≠ 0. There is an association between sales and brand value. Critical value: 5% (87-2) = 0.183 Test statistics = 0.948 The test statistics exceeds the critical value and therefore to reject the null hypothesis and conclude that there is significant association between sales and brand value. Inference about the population value of the correlation coefficient based on the sample is calculated using the FISHER function in EXCEL which is as follows: w= FISHER (0.95) = 1.83 (the mean for the normal distribution) the standard deviation is 1/ = 0.11 The 95% confidence interval for w is 1.83  ± (1.96 x 0.11) = 1.62 to 2.05 By using the FISHERINV formula in Excel, the 95% confidence interval for the population correlation is from 0.92 to 0.97. The narrow confidence interval indicates that adequate sample size is used for the correlation and the variables have a reasonable control in detecting the estimate of the effect. 3.2 Regression analysis Regression analysis is a technique used in analysing variables which focus on the relationship between dependent variable and independent variables. It will assist in understanding how a change in the value of the dependant variable has a direct effect to the independent variables. Clearly, the said analysis could be used to infer causal relationship between independent and dependant variables. Regression Statistics Multiple R 0.948091 R Square 0.898876 Adjusted R Square 0.897687 Standard Error 40.49166 Observations 87 Figure 5: Regression model and statistics A simple linear regression was performed on the 87 sample size to determine if there is a significant relationship between sales and brand value. Based on the regression statistic in figure 5, the Multiple R value is 0.95 and the R square is 0.89 or 89% which both indicate a liner model wherein the two predictors fits the data well and the confidence interval for the slope is wholly positive. R2 tells that 89% of the variation in the sales in associated with variations in the brand value. ANOVA df SS MS F Significance F Regression 1 1238788 1238788 755.5547 4.62162E-44 Residual 85 139363.8 1639.575 Total 86 1378152 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 38.81685 6.231001 6.229634 1.72E-08 26.42795 51.20575 Brand value 0.806217 0.02933 27.48735 4.62E-44 0.747901 0.864534 Figure 6:Regression statistic summary output With reference to figure 6 above, the intercept is given as 38.816 and the coefficient of brand value is 0.806. From this figures, the regression equation is constructed as y=38.817 + 0.806x. A significance relationship indicates that an increase in sales will have an effect to the brand value to increase between 0.75 to 0.86. The significance of the coefficients is indicated by the p-values. In figure 6, the p-value for brand value is 4.62E-44 (very small value), indicating that this variable in the population is very unlikely to be zero as the smaller the p-value, the greater significance it has. Based on the ANOVA results, the figure headed Significance F could also be used to assess the overall strength of the linear regression equation. From the regression statistic output, the value for the Significance F is 4.62162E-44 (very small value), so it can be concluded that there is a highly significant linear relationship between sales and brand value. Overall, it appears that there is a strong relationship between sales and brand value and the equation could reasonably be used to obtain predictions for sales in other brands given information about brand value. Based on the analysis above, it was noted that there is significance positive correlation between sales and brand value. It is recognised that there are four different reasons for the relationship to exist: sales indeed cause brand value. If sales increase certainly the reason is because consumers purchase more on the brand which leads to a good brand name and image. Thus, it increases the brand value. however, the results might be just a chance as it is based on sampling. If more observations and sample of the population are correctly and repeatedly done, there is tendency for the correlation becomes very unlikely (the more the test is conducted, the less likely that the results occur by chance). there may be some other factor which was not taken into consideration which produces the variation between sales and brand value and which might be the real cause of the correlation. there might be a causal connection that represents the effect of the correlation but might have put it in the other way round. It can be concluded from the high correlation between sales and brand value based on consumers purchasing power which causes the increase in sales. However, it might be the case that sales are caused by something else such as current economic condition and lifestyle. 4.0 Conclusion Prior to discussing the findings in detail and highlighting its contribution to the current literature and marketing practices, it is essential to provide an overview of this report and summing-up the findings. In summary the aim of the report is to test the relationship between sales and brand value. Based on the analysis conducted above in section 3.0, it is noted that sales have a positive effect on brand value. There is a strong relationship between sales and brand value. This is supported from the finding of Kim, Kim and An (2003) which indicate a positive correlation between brand value and a firms performance in terms of profits and long-term cashflows. Both variables complement each other to ensure the profitability of the company. Brand has always been an important identification in differentiating its products with its customers. Indeed brands with high brand value have established its existence in the market by anchoring a large sum of market share. Moreover, companies have identified the importance of the brand value and several steps have been taken up to ensure that the company will continue to perform better in its financial performance. Customers perception on a brand is related to the brand value computation as it contributes in terms of loyalty. If consumers are happy and satisfied with the product, eventually it built loyalty by consumer to the product itself. Clear example is the Coca-Cola brand, which is a global brand that is accepted by most of the consumers and this has lead to the contribution to the high brand value. It was reported that the sales of Coca-Cola has increased tremendously as it has manage to build a good brand image among its target market as well as a good positioning in the usage in sports and family gathering (www.businessihub.com). This is consistent with Leiser (2004) and Davis (2002) findings which indicate that 5% increase in customer loyalty will elevate profits of the company to the extent of 100%. According to Blackett (1991), there is a relationship between a brands strength and its ability to command future income. Based on the analysis conducted, the strong relationship between sales and brand value indicates the contribution in the aspect of companys financial performance. Therefore, companies is required to provide a wealth of information in regards to its brand value which as a result will enhance and improve both in terms of brands name and business performance. Based on the findings, companies should stimulate sales by means of promotion and advertisement. Current business environment is characterized by stiff competition and in order to survive a company has to have a well planned strategy to compete in the market. However based on the result obtained, it is not sufficient to focus only on these two variables to determine the companys performance especially when brands are supposed to last forever (Esch et al., 2006). For the long term prospect of the brand value, other variables such as brand trust and satisfaction do act as factors driving to consumer buying behavior. Therefore, continuous analyzing different indicators that have an impact to the business in some way can assist companies to interpret the result and make corresponding decision. Despite the above observation, it is hoped that the findings of the analysis could create greater interest in the subject and hopefully engender further in dept analysis which could contribute further understanding to the readers. 5.0 Reflection The analysis done through correlation and regression is able to assist company to engage into forecasting. For instance, a company introduces a new brand in the market and within the next few months its sales has increase tremendously as well as the income. By undertaking further research on how to sustain its sales, the correlation and regression analysis will assists in building up a model that can help the company to forecast its future income. Indeed, correlation is an important tool of statistics which can be used in the business decision making. It is vital to gasp the point of the correlation as even though there is strong correlation, it does not provide an immediate conclusion on the causation as it could indicate a relationship that is based on cause and effect (Taylor, 2007). For this particular example, a high correlation was seen between sales and brand value and some prediction could be made based on the factors such market share but it should be aware that the correlation itself has no proof of these assertions. As a result, correlation could not be solely used as a proof of causation. Some other statistical test should be used to support the result of the correlation. For example, if sales caused brand value, then it seen that there is correlation between the two variables as any changes in sales will cause changes in brand value. The reverse, it is not necessarily true because if sales and brand value is correlated, it could not automatically assume that sales is the cause of brand value. Linear regression using one independent variable i.e. brand value might not reflect the accurate result of the prediction for dependent variable i.e. sales. Therefore, multiple linear regressions with the use of additional independent variables could help better in explaining or predicting the dependent variables. In addition to this, the sample size used in this study only represents part of the entire population that could lead to bias and generalisbility (Saunders et al., 2007). Therefore the outcome obtained from the study may not reflect the whole population as whole and further analysis of the general population would be of value. Analysis of the population of other brands from different industry can be done to confirm, compare and expand on the results obtained earlier.

Progress Process And Prospect Of Green Hotels Environmental Sciences Essay

AbstractionDeficit of natural resources and environmental pollutions are considered as marks of planetary heating and serious universe climatic menace in the last few decennaries. Hence, environmental preservation has been increasing of import to all sectors of the economic system for the states. Though there are many touristry governments that have created the criterions or enfranchisements for environmentally sustainable hotels, really few Malaysia hotels have policies turn toing the issues. This survey aims to specify the advancement of Malayan hotel Industry and suggesting the effectivity and chance for Malayan environmental hotels.Research ObjectiveAs green becomes the colour of the twenty-four hours, the large terra incognita, nevertheless, is whether the remainder of the industry will follow suit every bit good as the uncertainness demand for green hotel. Green hotel ever near related to sustainability. A sustainable hotel should hold as little a footmark ( computation the amo unt of a edifice ‘s environmental impact ) as possible. However, it is about impossible to accomplish a zero footmark in world. Most hotels could go truly â€Å" C impersonal † merely by buying green credits or carbon-offsetting ( e.g. , paying a company to works trees to antagonize the hotel ‘s carbon-dioxide emanations ) . In fact, it requires considerable of money for a hotel traveling theirs measure towards green patterns by conserving energy, H2O and solid waste direction, etc. Therefore, the aims in this survey are: To look into the chief factor that influence regular hotel alteration into green hotel To detect the proper ways that make the regular hotel become green hotel To comprehend the hereafter of the hotel after become greenProblem StatementRecently more people are encompassing a green life style. Since bing edifices contribute about 80 % of the C emanations in some metropoliss through their energy usage, a major focal point of these attempts has been on sustainable building. Hotels use a enormous sum of energy and H2O every bit good as collect a immense sum of waste. By making their portion to conserve, recycle, and cut down, they are protecting the planet every bit good as supplying a great topographic point for eco-friendly invitees to remain. The intent of this research is to analyze the current province of green hotel industry. Further this survey besides makes the cordial reception industry taking an enterprise or implement for the interest of the environment. The industry is cognizant of these concerns, and has been look intoing environmentally-friendly options that would still turn out consistent with guest concerns for at least the last 15 years.ATheoretical ModelGreen hotel is created to diminish the sum of waste come ining landfills and increase the sum of waste that can be recycled. Hospitality industry must alter their scheme into â€Å" green † motion besides they have to seeking practical environmental that lead to a better universe. A The hotel industry could profit economically from the green motion, foremost by pulling invitees who wish to follow a greener life style, every bit good as salvaging money through cost-saving energy patterns and equipment adjustments.A Being green means ‘Green ‘ hotels are following environmentally friendly patterns and plans that will cut down energy direction ( Amy 2009 ) , H2O preservation ( JeongDoo ) , and waste direction ( Evans, 2008 ) .H4H5H3H2H1Figure 1: Conceptual model of the chief patterns of being a green hotel Hypothesis 1 ) 2 ) 3 ) 4 ) 5 )Introductionâ€Å" Green † Hotels are environmentally-friendly belongingss whose directors are eager to establish plans that save H2O, salvage energy and cut down solid waste while salvaging money to assist protect our one and merely Earth. Recently more hotels are encompassing a green life style. Bing green agencies invitees, staff and direction are healthier. Since bing edifices contribute about 80 % of the C emanations in some metropoliss through their energy usage, a major focal point of these attempts has been on sustainable building. Many hotels are reacting to consumer demands for a healthier and greener life style by doing their concern more environmentally friendly. Not merely consumer demand, fiscal inducements besides like to promote the cordial reception industry to go on developing more environmentally friendly hotel. Bing green agencies hotel are following environmentally friendly patterns and plans that will cut down energy, H2O and waste ( Amy, 2009 ) . Green attempts can be every bit basic as H2O preservation steps ( such as promoting the re-use of invitee linens ) , housekeepers using environmentally safe cleansing merchandises or Eco-sensitive watering place and bath comfortss to grander enterprises such as all-green building ( Kathy, 2007 ) . Among the more marked Eco attempts are late built hotels that weave the usage of ecologically sound building stuffs and thoughts into their very construct. Expect further rejuvenation of hotels as consumer demand additions. Harmonizing to a study conducted by the Travel Industry Association and Partnership, most grownups say they would be more likely to choose an hotel that uses more environmentally friendly merchandises and procedures, because environmentally friendly merchandise do them go more fitter. Besides supplying a positive consequence, green hotel besides give some jobs. Hotel must pay more to acquire friendly merchandise, besides they have to looking for a new topographic point to develop their green hotel. It means that they must cutting down a wood to construct their green hotel. And that makes our environment go more diminish.Literature ReviewThe Origin of Green PracticesThe hotel industry, like many other did non entertain the construct of salvaging energy for many old ages, as oil monetary values were at an all clip low in the 1980 ‘s and the early portion 1990s ( Hirschland, Oppenheim and Webb, 2008 ) . The chemical and oil industries were the first to come under probe by conservationist due to the seeable nature of their environmental impact. The cordial reception an industry took a long clip to come under examination and as a consequence was slow to take duty in cut downing the impact of their concern were holding on the environment. The construct of green or friendly hotel has become a really serious and profound subject within the cordial reception sphere in the past decennary. Bowman ( 1975, p.74 ) states that a â€Å" series of widely publicized environmental calamities signaled the globalisation of environmental concern and that society has entered the last phase of a procedure that has taken worlds from fearing, to understanding, to utilizing, to mistreating, and now to worrying about the physical and biological universe around them Cordial reception suppliers are now been forced to take duty for the impact their services are holding on the environment. In 1996, Agenda 21 for the travel and touristry industry made cordial reception suppliers aware of the demand to heighten sustainability development. There is grounds in today ‘s literature to propose the execution of environmental patterns is widespread across the cordial reception industry as the benefit are infinite, the most of import being fiscal sustainability. Pizman ( 2009 ) believes that many cordial reception organisations are non interested in environmental sustainability for selfless or ethical grounds, but are strictly puting in environmental patterns for selfish profitable grounds. Houdre ( 2006 ) , Brown ( 2006 ) and Stark ( 2009 ) have made it clear that the premier ground for implementing environmental patterns is geared towards profitableness. Cotton ( 2007 ) believes that the intent of running any concern is to do a net income and so it is dismaying the figure of cordial reception organisations that are non following green patterns in order to drive long term profitableness. This suggests that there are barriers and obstructions with respect to the execution of environmental patterns in the cordial reception industry.Green Hotels in MalaysiaOver the past decennary many organisation, both in the private and the public sectors have recognized the value of a systematic attack to the direction of their organisation ( Abdallah, 2007 ) . Superficially, it might be argued that environmental direction is non of import issue in the Malayan hotel industry. Comparing with the other environmentally developed hotel industry from other states, Malaysia hotel industry ap pears missing in the consciousness for environmentally policy ( Azusa, 2009 ) . There is a realisation among many hotels that environmental direction does non entirely intend forestalling their milieus from being polluted. Daily operational activities and consideration, which range from the usage of recycled documents to minimising the usage of heavy chemicals besides provide a important cost economy step for hotels ( Hong and Parker, 2004 ) . Therefore, it is non true to province that investing in environmental direction patterns will ensue in the escalation of operational costs and eroding of net income borders ( Foster, Sampson and Dunn, 2000 ) Harmonizing to the star.com.my five hotels in Malaysia have been chosen as the new receivers of the ASEAN Green Hotel Award 2010, conveying the entire figure of such hotel in the state to 10.the five hotels are The Andaman Langkawi in Sedah, Shangri-LA ‘s Tanjung Aru Resort & A ; Spa in Kota Kinabalu. Mines Wellnes Hotel in Selangor, Shangri-La ‘s Rasa Ria Resort in Tuaran and Renaissance Kuala Lumpur Hotel. The ASEAN Green Hotel Award 2008 receivers which managed to retain their position were Hotel Melia Kuala Lumpur, Nexus Resort Karambunai in Sabah, Shangri-La ‘s Rasa Sayang Resort & A ; Spa in Penang, Shangri-la ‘s Hotel Kuala Lumpur and The Frangipani Langkawi Resort & A ; Spa. The ASEAN Green Hotel Standard is an indispensable tool to back up ASEAN as a universe category quality finish.Zero Waste Approach – Traveling Beyond Best PracticesThis study discusses several subjects that illustrate ways hotel are going greener. Although implementing the b est patterns saves money, this study shows how to travel beyond best patterns. The end being a friendly hotel is to extinguish every bit much as possible the negative impacts on the environment both by cut downing ingestion of resources and by altering the patterns so that the waste hotel green goods can be used as natural stuff. Achieving zero waste may or may non possible in the foreseeable hereafter. What matters is working towards zero waste by go oning to implement plans as new chances to utilize antecedently wasted stuffs become available. Nowadays a few prima hotels are endeavoring to go zero waste trade names, which does non needfully intend the riddance of all byproduct. It means utilizing resources expeditiously, utilizing renewable resources and when coevals of byproducts is ineluctable, utilizing those byproduct as natural stuff for other procedures. Besides implementing zero waste, energy preservation and H2O preservation besides of import to patterns the green hotel. The cost nest eggs and environmental benefits of the nothing waste enterprise more of import and it takes to establish such a plan. The procedure of making zero waste takes several months to finish with most organisations seeing feasible consequences after the first twelvemonth ( Thayne, 2010 ) . The zero waste procedure must affect every member of the hotel, with a nucleus squad or maneuvering commission supervising the enterprise. To accomplish zero waste hotels must place how much waste exists in the organisation past to the enterprise and work together with the each member of the section to find the sum of waste created in each class. A few prima hotels today are determined to go zero waste trade name, which does non needfully intend the riddance of all by merchandises. It means that utilizing resources expeditiously, utilizing renewable resources and when coevals of by merchandise is ineluctable, utilizing those by merchandises as natural stuff for other procedures ( Abhinav and Rajeshwari, 2001 ) .Environmental Management Practices ( EMP )Over the past decennary many organisation, both in the private and the public sectors, have recognized the value of a systematic attack to the direction of their organisations. Apparently, it might be argued that environmental direction is non an of import issue in the Malayan hotel industry. After all, certain groups might reason that it is impossible for the hotels to be environmentally cognizant due to high investing cost involved. However, upon deeper scrutiny of the topic might uncover that hotels in Malaysia can non avoid facing this issue for long if they are to stay com petitory ( Ahmad, 2007 ) . There is a realisation among many hotels that environmental direction does non merely intend forestalling their milieus from being polluted. Daily operational activities and consideration, which range from the usage of recycled documents to minimising the usage of heavy chemicals besides provide a important cost economy step for hotel ( Hong & A ; Parker, 2004 ) . Environmental direction is a direction model for cut downing environmental impacts and bettering hotel public presentation overtime. In other words, environmental direction provide hotel of all types with a constructions attack for pull offing environmental and regulative duties to better overall environmental public presentation ( Vandermerwe & A ; Oliff, 1990 ) . Environmental direction pattern enterprises consist of several patterns such as holding an environmental policy, preparation and honoring workers to happen chances to forestall pollution, puting corporation broad internal criterions, set abouting internal environmental audits and following the doctrine of entire quality direction in environmental direction ( Khanna & A ; Anton, 2002 ) . In general, environmental direction pattern would include the extent to which a company has defined its environmental policy, developed processs to set up environmental aims, to choose and enforced environmental patterns assessed the result s of such patterns and has allocated environmental duties ( Klassen & A ; Whybark, 1996 ) . Such an force per unit area in the hotel industry would intend that environmental direction should be studied from all proficient and organisational angles so as to cut down the environmental impact caused by a hotel ‘ concern operations. The benefit of following Environmental Management Practices is many-sided. For case, of the streamlining of a hotel ‘s operational activities to be harmonic with environmental demands will accrue nest eggs ( Rondinelli & A ; Vastag, 1995 ) through the bar of environmental debasement in bend taking to cut down cost of production and higher net income ( Pava & A ; Krausz, 1997 ; Russo, Fouts & A ; Paul, 1997 ; Waddoek & A ; Graves, 1997 ) . Ultimately, the execution of Environmental Management Practices ‘ may supply hotels with alone environmental resources operation, capablenesss and benefits that may confabulate a competitory advantage to practicians ( Hart, 1995 ; Klassen & A ; Whybark, 1999 ) . Such benefit may obtain from image benefit, encompassing of eco-tourism and cost economy ( Aalders, 2002 ; Holland & A ; Foo, 2003 ; Kollman, 2001 ; Prakash, 2002 ) .Energy EfficiencyHotels are the largest consumers of energy non merely in constructing building but besides as constitution with complex installings, which provide invitees with high degree of multi-faceted comfort and sole comfortss, intervention and installations. Many of the services provided to hotel invitees are extremely resource intensive whether it concerns energy, H2O or natural stuffs. A important sum of the energy used is wasted go forthing sample for intelligent steps of energy efficiency and preservation ( Joseph, 2009 ) . Since the installing of energy, H2O and natural stuff salvaging techniques in hotels can accomplish environmental advancement and offer competitory advantages to hotels in surpassing their opposite numbers, many new energy salvaging installations have been introduced by the hotel sector in the past few old ages following t echnological progresss ( Willy, 2009 ) . The addition in energy monetary value agencies that energy preservation attempts should be taken to cut down the consequence of energy cost ( Weng Wai, Buang and Abdul Hakim, p.58, 2006 ) . As stated by Yukata Mizuta ( 2003 ) , energy preservation may non merely convey decreases in C dioxide emanation, but may besides take to salvaging in the outgo on energy. On a world-wide footing, the energy used in the hotels is preponderantly fossil fuel based or comes from atomic reactors ( Philip, 2009 ) . A genuinely sustainable hotel must non merely see ways to utilize energy sagely but should besides see the possibilities of heightening the usage of energy from renewable resources. About 40 % of the energy used in a hotel is electricity, 60 % comes from natural gas and oils fuels ( Niki, 2008 ) . These energy carriers are brought in by the hotel. The energy is converted by a figure of transition into the most of import internal flows of energy viz. heat, cold and illuming. Heat is used in t he signifier of hot H2O ; hot H2O is used in the signifier of hot tap H2O. Cold is used chiefly for chilling and drying the airing air, largely cold is produced in the signifier of ice H2O. Figure 1. Energy ingestion that usage in the hotel Lighting is one of the largest electrical energy consumers in the hotels, as in many other sorts of public-service corporation edifices. Figure 1 shows that some 35 % of the entire energy ingestion in hotel goes to illuming. Lighting installing must supply equal degrees of illuming for each activity. Bright and comfort degree are besides of import for illuming inside the hotels, depending on the country where illuming are required. Lighting degrees necessary for each zone are established in the lighting ordinances of each peculiar state. These degrees should be reached by the most suited lamps for each application. When it comes to the energy nest eggs that can be made on lighting, there are two chief ways. Efficient illuming Required lighting is supplied by light resources, which are made up of lamp and leading lights. The pick of light beginning depends on assorted standards, e.g. : efficiency colour temperature, colour representation index, lamp life, emanation modeaˆÂ ¦etc. Lighting in the different countries of the hotels have different demand, but it is really of import that the most efficient lamp is chosen for each application. Smart exchanging Another nest eggs can be achieved with â€Å" smart shift † of illuming. Lighting is often switched on unnecessarily when there is sufficient daytime or there is cipher in the room. With manual operated system particularly, light tend to be left firing needlessly.Water ConservationWater preservation encourage hotel to pull off how and when H2O is being used, manage both the proficient and human side of H2O direction issues. It is estimated that by 2010, H2O usage addition to about 475 gallons per twenty-four hours for each hotel room ( Sarah, 2002 ) .however in other adjustments, H2O utilizations still a cost and an of import emphasis on the local environment. In many instances H2O preservation can be a affair of buying and utilizing the proper systems. Factors that consider H2O beginnings may include renewability, possible impact on the environment and H2O supplies every bit good as economic benefit. Some of developing states, hotel H2O usage may impact the H2O supplies of the local people. Any H2O usage decrease plan must hold full support of the each member of the hotel. Some hotel estimated that merely little per centum of H2O consumed by the invitee, the ba lance is used by the fille de chambres during cleansing. Water is important resources for the cordial reception industry as it limited resource and needed for figure activities as illustrated in figure 2. Figure 2. Hotel H2O system and usage Identifying where H2O usage is utmost of import to hotel in developing countries. With increasing consciousness of cost economy chances through H2O preservation, assorted related plans have been developed and implemented among hotel companies. Harmonizing to Marriott International ( 2007 ) linen reuse plan, promoting invitees to recycle lines and towels during they stay contributes to salvaging 11 to 17 % on hot H2O. Previous literature besides reported that linen and towel reuse plans are well-established patterns in hotel in most states, with more than two-thirds of the respondents in surveies conducted in different states utilizing such plan ( Bohdanowicz, 2006 ; Erdogan and Baris 2007 ; Mensah, 2006 ) . This plan saves non merely hot H2O and energy, but besides reduces the usage of detergents and thereby reduces effluent.Waste ManagementCordial reception industry can go of import factor in the minimisation of waste that is presently disposed of at landfill sites. Waste direction has been designed and implemented to cut down the volume and toxicity of refuse ( Iwanowski and Rushmore, 1994 ) . Erdogan and Barish ( 2007 ) conducted a survey to analyze environmental patterns and found that paper and nutrient waste are the greatest sum of waste generated beginnings of hotels. Previous research indicates that the degree of hotels ‘ committedness to blow screening and recycling varies, depending on regulative force per unit areas and local authorities ‘s support. Waste minimisation and direction involves cut down, reuse and recycling. These attempts combine to minimise the sum of waste disposed and the cost of disposal and aid to guarantee that concluding disposal is done in an sanctioned and sustainable mode. Minimizing waste coevals begins in buying map. Buying in majority, utilizing merchandise manufactured from recycled stuffs, commanding the use of merchandise to avoid waste and working with provider to minimise merchandise packaging are all proved ways to minimise waste coevals ( David, 2002 ) Reuse as a agency of waste decrease has been practiced in the cordial reception industry for many old ages ; beverage container such as those keeping syrup dressed ore and beer kegs are typical. Reuse does non hold to go on on the belongings itself ; used linens can be donated to shelters or other charitable organisations for reuse ( Willy, 2009 ) . Recycling stuffs is better pick than recycling, firing or landfill. Recycling different from recycling, recycling interruptions down an point into the basic parts and makes a new merchandise out of it, but recycling an points keeps the stuff in its original signifier and uses the point over and over once more for the same or different intent. Recycling as a agency of preservation can be turned into gross steam. The monetary value paid for recycled stuffs varies geographically and over clip ( Philip, 2009 ) . A recycled merchandise describes a merchandise that is made wholly or partially from secondary stuff recovered from consumer waste. Some merchandise are reduced to their natural province and remanufactured into something resembling their original province. In the instance of recycled paper, the newspaper gathered from invitee sleeping rooms and the used notepaper coming from the hotel transcript store are reduced back to their natural province of paper mush which is so used to bring forth more paper. Unfortunately, many merchandises recycled in this mode come back as lesser quality merchandise ( David, 2002 ) . Reduce as a means decreasing the sum points or resources that are consumed utilizing the sum that is needed. The illustration of the cut down undertaking that hotel can make is ; cut down the sum and toxicity of rubbish that hotel discard, possibilities include buying lasting, long permanent goods, seeking merchandise and packaging that are as toxin free as possible and redesigning merchandises to utilize fewer natural stuffs in production, last longer or can be used once more after their original intent. Hotel activities should be able to be safely assimilated into natural system, therefore foregrounding the demand of solid and liquid direction techniques Figure 3. Wastage that generated by hotel Solid waste in hotels has many constituents, including paper, nutrient, assorted metals, plastics, aluminium and glass. This gives a image of the assortment of waste that can be produces by merely a little figure of hotels in a metropolis. When looked at with a zero-waste attitude, these figures show the chances for both resource recovery and waste decrease. Implementing a solid waste decrease plan in a hotel can make important cost nest eggs in waste trucking fees while making a more environmentally friendly hotel ( Sarah, 2002 ) . This is particularly true as solid waste becomes a more important environmental issue and landfill fees addition. Frequently hotels hesitate to set up plan in solid direction because of the coordination and cooperation needed among direction, employees and invitees. However the cost benefit is an inducement.Implementing Green EnterprisesWhile many companies and persons talk about ways they can assist the environment, it is still merely a few that are really making a program of action. Meeting Professionals International or MPI took its first measure in 2006 at the Professional Education Conference, a convention of run intoing contrivers from around the universe. MPI worked with the convention centre to recycle merchandises from the meeting by donating leftover nutrient bank, donating marks to local schools for art undertakings and utilizing green providing for conference events ( Gardner, 2006 ) . These are simple ways to add a green enterprise to the hotel and integrate a no waste pattern at small cost. One manner meeting contrivers can larn what a hotel provides in term of green pattern is by puting green petition into the petition for proposal. Some contrivers are inquiring for recycling plans to be in topographic point. Planners are besides bespeaking that hotels have complete green plans in topographic point or their hotel will non be chosen for an event ( Gardner, 2006 ) Banquet Department Harmonizing to Nancy Wilson of Meeting Strategies Worldwide, these are some stairss that can be taken to green the hotel: Use e-mail alternatively of paper mail Use an online enrollment system Forgo passing out conference bags unless they are made of recycled stuffs A truly interesting idea is to take hotels either near the airdrome or shut to all activities associating to the meeting ( Gardner, 2006 ) . This will restrict C dioxide emanations by restricting the demand for vehicular transit from one location to the following. As for nutrient service, the feast section should update how nutrient and java interruptions are presented to the invitee. Alternatively of separately wrapped Sweets, honey, jams and picks, the hotel needs to exchange to bulk containers that can be reused many times, making less rubbish ( McPhee, 2006 ) . In add-on, alternatively of street arab utensils, silverware should be supplied to stir java and tea. Refillable H2O jugs that can be set up periodically throughout the meeting infinite with existent spectacless available should be used in topographic point of bottled H2O. Changing the lighting to energy efficient bulbs in the meeting infinite, fittingness centre and employee merely countries of the hotel will be high precedence. Groups have specific illuming demands for the meeting infinite, but the fittingness centre and back of house do non necessitate to hold many different types of illuming. Fortunately, there are many new efficient bulbs that can now be dimmed and adjusted to the groups ‘ demands in the event infinite ( Fedrizzi and Rogers, 2002 ) . The more intense undertaking will be put ining gesture detectors throughout the meeting infinite and back of house. These countries are used for a big sum of clip each twenty-four hours, but there are times when no 1 would be in the countries at all. If the detectors could turn the visible radiation on and off when person walks in or out of a room by observing organic structure heat, so the energy would be cut down in comparing to when the visible radiations are left on continuously ( Serlen, 2008 ) . Guest Room The invitee room is a hard location to implement alterations, as it requires the invitee to believe what the hotel would wish to alter. If the invitee wants new sheets each twenty-four hours, so the hotel most likely will compel the invitee to do them happy. That being said, many enterprises can be taken to do it easy for the invitee to take part in the new policies. Another facet is how to salvage energy in empty invitee suites. Harmonizing to Jeff Sobieski ( 2008 ) , hotel guestrooms are unoccupied about 60 % of the clip. This mean that for 60 % of the clip, the hotel can be in control of the temperature and lighting of a guestroom and pull off how much energy is being used during that clip without interfering with the invitee ‘s comfort. The following are two illustrations of energy salvaging scenarios that can take topographic point in invitee suites. The first is to alter visible radiation bulbs to energy efficient visible radiation bulbs that will last long and use less power. The other alteration is the â€Å" turn off ‘ plan. This plan will hold the Thermostat linked to the hotel database so the temperature can alter when the guest cheque in and out. This system can besides reset itself anytime the guest leaves the room ( Freed, 2008 ) . Besides, if the room has a balcony, anytime the balcony door opens, the temperature will reset itself. Ran in concurrence with the 2nd scenario, the â€Å" turn off † plan, hotels can utilize in-room tenancy sensors. These sensors use organic structure heat detectors to scan the room to look into is a invitee has entered or exited the room. Once it detects that person is in the room, the system will return the temperature of the room back to the invitee ‘s penchant. The detectors can besides be used as a manner to maintain the visible radiations from being left on all twenty-four hours and dark. If there is no motion in a present sum of clip, the detectors can describe database that it is All right to turn off the visible radiations. While this will salvage energy, some guest prefers to walk into a room with light. This can be fixed by holding a hall light bend on when the forepart door opens so the invitee is non come ining a dark room. This can be managed by a detector or by a connexion between the door and the visible radiation ( Hanna, 2008 ) . Restaurant The countries of eating house and kitchens that are non seen by invitees can salvage energy through a survey of how the contraptions are used and comparing that to how they are supposed to be used. The chief manner to salvage energy in the kitchens is to learn the staff the proper manner to utilize the equipment ( Jones, 2002 ) . For illustration teach the staff to shut the icebox door when non in usage. In add-on, maintaining the equipment cleaned and maintained will do certain that the equipment is running at its best degree ; this will assist guarantee the lowest sum of energy would be used ( Lawn, 2008 ) The thought of replacing the contraptions in the laundry country besides can be applied to hotel kitchens. For illustration, a new energy star steam cooker can be 60 % more efficient than the regular theoretical accounts available ( Brodsky, 2005 ) . This type of nest eggs can be applied to all the contraptions. Housekeeping or Laundry The energy salvaging in the laundry country will necessitate some installation of new contraptions and systems. While there will be an initial cost associated with the new contraptions, it will salvage energy in the long tally. The first alteration will be to put in new gas driers that can dry cloth more rapidly and utilize less energy. The other new system is a heat recovery unit that can salvage the heat from the old H2O rhythm in the wash and reassign the heat to the clean H2O being used in the following rhythm ( Fedrizzi and Rogers, 2002 ) . Both of these options are making new ways to conserve energy, but non altering the existent procedure of making wash. The hotel ‘s housekeeping staff would be responsible for watching for leaks throughout all invitee suites and hotel infinite. Harmonizing to Ashwin Patel ( 2008 ) , a individual leak can blow 10,000 litres yearly ; all sinks, showers and lavatories need to be checked for leaks. These are initial measure and easy holes that can be taken while waiting for larger enterprises to take topographic point.Expectation from Green HotelFor many old ages, the hotel industry was loath to admit any important influence on the natural milieus. Hotel edifices for the illustration, due to their very specific and alone map and operational form, by and large have a much larger ecological impact than other commercial edifices of similar size. At the same clip, the well being and development of the touristry and the hotel industry relies to a great extent on the handiness of clean, natural environment ( Paulina, Branko and Ivo, 2004 ) The most of import side consequence of traveling green is to make a more sustainable environment. This is the chief end of all the aforesaid enterprises. Besides, the illustrations of alterations have shown the nest eggs that can be achieved for the hotel. However, one chief positive facet may look a small selfish. There are many grounds why company chooses to make the undertakings they do, and for the most portion it is because the hotel wants to be viewed positively by client or invitee. Harmonizing to Patrick Hartman and Vanessa Ibanez ( 2006 ) , if the trade name is considered green, so consumers are willing to pay more for that merchandise. This allows the hotel to experience as if they are making something good for the environment while go toing the conference they planned on attention. Hypothesis 1: Hotel that operate green patterns will ensue in the betterment of operational costs and less of net income Hypothesis 2:

The article describes about the supply chain management...

The article describes about the supply chain management and various activities and programmes involved in supply chain management. The author even explains different phases in the evolution of supply chain management. Mainly focuses on the 7 principals which bring host of competitive advantage to the company. Andersen consulting listed all the 7 principles and briefly explained them. The role of logistic professionals and the use of technology in the implementation of the system. The relation between the information technology and the supply chain management were explained. Mostly the use of supply chain management is explained. Critical analysis: The main concept in this article is supply chain management which starts with the customer†¦show more content†¦Creating a strategy may be easy but executing will be difficult. Good skills in communicating the strategies to reach and understood by every employee is the key factor. It plays a key role in execution of the strategies. To achieve good results author uses strategy maps which can be easily depicted and understood by everybody easily in a picture format. This process provides with better communication from top level to bottom in an organisation. This even helps in better measurement and execution of strategy. Critical analysis: from this article the main use is to help organisation overcome the difficulty by depicting in a picture format. This strategy map explained with the arrows showing the sequence of steps occurring during the process of implementing strategy. There was even a case stated in the article about the JLM Transport Company implemented the process and got succeeded at the end. This shows that proper structure is required to implement and reach to each and every employee in the organisation. Value: This article adds a good way of showing the process of creating and implementation and communicating the strategies, because strategies plays key role in over al development of the organisation. Proper structure and process helps in achieving the target and the can maximize profits to the organisation. In my opinion strategy maps helps in solving problems due toShow MoreRelatedStrategic Management and Leadership25577 Words   |  103 PagesManual for Postgraduate Diploma Level 7 in Strategic Management and Leadership The London Academy for Higher Education: Extended Diploma in Strategic Management and Leadership Course Manual 2011 / 2012 Contents How to use this Manual About the London Academy for Higher Education About the Extended Diploma in Strategic Management and Leadership Course Module Brief Entrance Requirements Core Units Unit 1: Developing Strategic Management and Leadership Skills Unit 2: Professional DevelopmentRead MoreManagement and Study Unit41775 Words   |  168 PagesBUSINESS MANAGEMENT PROGRAMME IN PURCHASING AND SUPPLY MANAGEMENT STUDY GUIDE FOR MODULE 2 PURCHASING AND SUPPLY MANAGEMENT PPSM026 i  © 2011 University of South Africa All rights reserved Printed and published by the University of South Africa Muckleneuk, Pretoria Author: Ms Irma Fourie PPSM026/1/2011-2013 ii PURCHASING AND SUPPLY MANAGEMENT (PPSM026) CONTENTS TOPIC 1: THE PURCHASING FUNCTION: AN OVERVIEW The purchasing function in perspective The task of purchasing and supply managementRead MoreManagement and Study Unit41787 Words   |  168 PagesBUSINESS MANAGEMENT PROGRAMME IN PURCHASING AND SUPPLY MANAGEMENT STUDY GUIDE FOR MODULE 2 PURCHASING AND SUPPLY MANAGEMENT PPSM026 i  © 2011 University of South Africa All rights reserved Printed and published by the University of South Africa Muckleneuk, Pretoria Author: Ms Irma Fourie PPSM026/1/2011-2013 ii PURCHASING AND SUPPLY MANAGEMENT (PPSM026) CONTENTS TOPIC 1: THE PURCHASING FUNCTION: AN OVERVIEW The purchasing function in perspective The task of purchasing and supply management PurchasingRead MoreBackground Inditex, One of the Worlds Largest Fashion Distributors, Has Eight Major Sales Formats - Zara, Pull and Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home Y Kiddys Class- with 3.147 Stores in 70100262 Words   |  402 PagesBeatrice Kogg Responsibility in the Supply Chain Interorganisational management of environmental and social aspects in the supply chain Case studies from the textile sector Doctoral dissertation the international institute for industrial environmental economics Lund University, Sweden  IIIEE DISSERTATIONS 2009:2  Responsibility in the Supply Chain Interorganisational management of environmental and social aspects in the supply chain Case studies from the textile sector Read MoreLogistics of Luxury Product10263 Words   |  42 PagesARTICLE IN PRESS Int. 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Book Review on Life Strategies for Teens - 1519 Words

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