Daily events in the business world relate directly to the concepts of marketing strategy. To encourage reading and integrating concepts from the business, students may elect to submit a summary of a news article on a current marketing event.
The 1 page (single-spaced) submission should consist of a short summary that provides a link to the article, with minimum 3 paragraphs, describing:
1) the event it covers
2) interpretation of the event in relation to concepts in the course
3) summarizes what makes the situation interesting.
class concept sample (CHOOSE ONE)
– porter five forces analysis
– SERVQUAL model (RATER)
– PESTEL analysis
– blue / red oceans strategy
– laddering approach – kano model
18 pro 0 em contmues the Haupt Consulting situation from Problem 2-64 of
Chapter 2. Start from the trial balance and the posted T-accounts that Haupt
Consulting prepared at December 18, as follows:
December 18, 2010
Cash $ 8,100
Accounts receivable 1,700
Accounts payable $ 3,900
Unearned service revenue
Carl Haupt, Capital 10,000
Carl Haupt, Withdrawals
Service revenue 2,500
Rent expense 500
Utilities expense 200
Total $16,400 $16,400
Later in December, the business completed these transactions, as follows:
Dec 21 Received $900 in advance for client service to be performed evenly over
the next 30 days.
21 Hired a secretary to be paid $1,500 on the 2oth day of each month. The
secretary begins work immediately.
26 Paid $300 on account.
Student Name: ________________
The United States is very concerned about our reliance on importing oil from other countries.
President Obama believes that by placing new standards on trucks, we can drive down these
importing costs due to better efficiency. Overall this should help the climate, businesses, and
end consumers, which Obama states as a ?win-win-win?. Muller emphasizes that this may not
be the case since it may the vehicles will be very expensive to purchase initially. The people
that will be hurt in the short-term will be the truck drivers, whom have had to consistently
follow new regulations thrown at them year after year. These additions continuously drive up
the prices for new trucks, and make it more difficult for the truck owners to make the
purchase. Another factor to consider is that the technology for making these vehicles more
fuel-efficient hasn?t been produced yet. The key takeaway from this article is that these
advancements may need to be set over a longer time frame so the truck owners can afford
such a purchase, and technology can keep up with these new standards.
Relation to Class Concepts
This event relates directly to concepts we?ve learned in class, because we can use many types
of analyses mentioned in class to better understand the situation. One concept would be an
external analysis method, such as PESTEL. The political factors in relation to the article
would be Obama?s push for more regulations, and OOIDA?s stance that it will have negative
consequences in the trucking industry. Next is the economic factor in the scenario. This would
include oil prices, and the very low number of truck drivers in the industry today. For the
socio- cultural aspect, the trend today is to try to be sustainable in business practices. Then
there are technological factors to consider as well. Many new technologies such as Electric
On-board Recorders (EOBRs) and GPS systems are placed inside large semi-trucks today
which can help drive down fuel costs. The technologies mentioned in the article that Obama
wants to administer to help with fuel efficiency are not yet in production. Next, the ecological
factor is also important to consider. The United States should try to minimize their carbon
footprint to help the environment. Obama?s new standards would help lower carbon emissions.
Finally, the legal factor to consider is that there have already been regulations set by the
government every year for the past ten years. PESTEL is a useful analysis tool for
understanding the external factors that come into play, and how they can affect an industry
such as trucking.
Reasons for Interest
This article was of interest to me, because I am a Supply Chain Management major
concentrating in logistics. The transportation industry has many obstacles to overcome, such
as the lack of people interested in truck driving. Placing more and more regulations on truck
drivers/owners may only increase our shortage of drivers, which will devastate the industry.
But, we also need to be aware of the benefits that can be gained by such a proposal. We can,
in the long-run, save on fuel costs of transportation and rely less on oil imports. Also we will
have more eco-friendly trucks on the roads which are more sustainable. These new
advancements in technology and stricter regulations are very important in any industry, and
are important to consider when dealing with challenges in the business world.
Muller, J. 2014. ?More Efficient Trucks Will Save Fuel — But Only If Drivers Can Afford