Task Environment free essay sample

There is an opportunity for a separate menu that should be developed; the plates should be identified on the main menu. It is very difficult for those with celiac disease to eat out when there are not many options for gluten free restaurants; this gives an opportunity to The Cheesecake Factory to increase their consumer market. 2. Shift away from fine dining (T) The shift in the market away from fine dining experienced in 2012 will continue in the upcoming years as consumers remain cost conscious. There is still no clear indication as to where the economy in general is heading. Until a change comes consumers will be focused on â€Å"Perceived Value†. This shift has helped the Quick Serve Market which has led to an opportunity for them to introduce a higher end product to their menus. Taco Bell and McDonalds, for instance, have reaped the benefit of this market shift; consumers see a greater value for their money. We will write a custom essay sample on Task Environment or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The Cheesecake Factory can continue with a more creative, reasonable priced or multiple portion sizes menu and more attention to the hospitality of their aspects. The company is shifting away from fine dining by placing the restaurants near malls making it more casual to eat there; this can be seen as a threat, as The Cheesecake Factory has been seen as a place to dine on special events, this is slowly deteriorating. 3. The economy will be in focus (T) The last three quarters of 2012 have been rough for a number of restaurants. The only bright spot has been Quick Serves. 2013 will provide much of the same, especially during the first six months of the year. We still see the industry segment growing, but only 1. 3% over inflation. Energy prices and food inflation will be the wild card on how the industry performs. If we see a spike in energy costs due to continued turmoil in the Middle East, fewer discretionary spending dollars will be available for eating out. The effects of the 2012 drought will continue to be seen during the first half of 2013. This will drive the cost of protein and other staples to new heights. This is a threat to The Cheesecake Factory since their biggest problem is comparable store sales- the company reported a comp increase of 2. 7% and although this figure is above many of its competitors, the 2. 7% is composed of a 1. % increase in traffic and 1% in checks; but the company had increased menu prices b 1. 9% during the final quarter of 2012 which indicates that the average check declined . 9%. This is due to the inflation- management stated a continued increase in prices to keep up with inflation. 4. Effort in taking care of the kids (O) For the last six years, we have stressed the imp ortance of taking care of the kids and improving the menu options for this important age group. The â€Å"Gen Y† group is starting to mature and have children. They will not stop eating out because of this. It will be even more important to cater to this group. American Demographics Magazine states that married couples with children spend an average of 44% more at restaurants than those without children. Happy kids mean happy parents. This is an opportunity for The Cheesecake Factory to provide a fun and unique selection of foods for the kids. The company is targeting a female audience that shops at the mall, these consumers will bring along their kids who will want something healthy yet fun for the children. 5. Commodity Prices will result in food inflation (T) The severe drought of 2012 will continue to affect almost all food costs, especially beef, well into 2013. Customers will want to see lower to flat prices due to the stagnant economy. Vendors will pass higher costs along. Restaurants will be stuck in middle. True food inflation will be over 10% higher in January 2013 than it was at the beginning of 2012. Price increases are inevitable. Communication with The Cheesecake Factory’s guests will be key. This will require a hard look at their menu and design it to draw the customers to higher gross profit items. Menus will need to be updated and revised more frequently than in years past to take advantage of guest expectations. 6. The Use of Social Marketing will continue to grow eyond Facebook and Twitter (O) Social media is quickly becoming the communication of choice for many of the guests. In 2012, forty-nine percent (49%) of guests under the age of 44 have used Twitter or something similar. The number of unique visitors to Twitter has increased 1,382% year after year. During the same period, Facebook usage increased 228%. These will only continue to grow and expand to alternative social sites. There is an opportunity to reduce the amount of resources the company is spending on conventional print and TV advertising, and get closer to guests by using these highly effective social marketing tools. Although The Cheesecake Factory has a Facebook and Twitter, they are yet to create an app- this app can be used for consumers to check in while they are shopping at the mall (where the company is placing its restaurants); not only will this capture all types of demographic and marketing information but will improve customer satisfaction. The consumer will be able to check in prior to going into a Cheesecake Factory location and reserve a seat and even order their food so there is no waiting in long lines; becoming more effective. 7. An Evolving Palate (O) According to the research firm Techmomic, consumers are increasingly driven to try new flavors. This will expand into the fast casual segment with an emphasis on Asian flavors. The Cheesecake Factory needs to take advantage of this trend- keeping items on the menu that are specialties while enhancing the brand. There is an opportunity to offer unique tastes through seasonal menus or daily/weekly specials. A great place to start will be desserts which The Cheesecake Factory is very well known for. Marketing for these items should be often through social media sites. Encouraging The Cheesecake Factory’s guest to not only try the item, but follow the company and look for the new adventurous flavors. 8. Bargaining Power of Suppliers low High levels of competition among suppliers acts to reduce prices to producers, similar critical production, large number of substitute inputs, low cost inputs and switching suppliers. (O) 9. Bargaining Power of Consumers low- Large number of consumers, diverse buyer choice, and product is important for consumer they end up paying more for the product. (O) 10. Intensity of Existing Rivalry high- Large industry size (T) 11. Threat of Substitutes high- High level of substitutes, low level of food innovation, substitute is inferior in quality. (T) 12. Threat of New Competitors low- Economies of scale is low, new entrants have higher cost of production. (O) V. Analysis of Strategic Factors 1. Strengths a. Strong name and popularity b. Extensive menu and bakery product offering Its menu offers around 200 items, including appetizers, pizza, pasta, seafood, steaks, salads, sandwiches, and more. The chain is best known for its 40 varieties of cheesecake and other desserts, which account for an impressive 15% of sales. Management has proved quite adept at anticipating consumers dining and taste preferences. The company updates its menu every six months, replacing 5-15 items. c. Strong Management 2. Weaknesses a. Increasing prices b. Unhealthy choices in their menu 3. Opportunities a. Ability to expand internationally b. Trend to social media marketing c. Location near or in malls Management reckons that it has not fully penetrated its existing markets. Developers also appear very eager to involve the restaurant in their projects, with some offering anchor positions in shopping malls and contributions to help fund construction. In our opinion, Cheesecake is in an excellent position to capitalize on these growth opportunities. d. Ability to broaden selection of menu- not only cakes 4. Threats a. Food inflation- raising menu prices b. Natural disasters- Storms took a hit on the company’s first quarter- decrease in traffic. c. Intense industry competition The restaurant business is fiercely competitive, and the success of upscale casual dining chains like Cheesecake Factory, P. F. Changs PFCB, and McCormick amp; Schmicks MSSR will not go unnoticed by other restaurateurs I was not sure if we needed to analyze the SWOT or just states S W O amp; T according to the info found throughout the paper. Let me know I will continue the analysis if I have to do it and have it done by Monday morning or tonight if I can get home early from work. B. Recommended Strategy 1. We recommend our client that they precede with the growth of the company through international expansion. (The volumes in the company’s Middle East stores exceed the United States. )

Free Essays on The Summary

According to a college freshman student, it is believed that Aristotle’s was known as one of the first ancient Greeks scholars, in the world, to have been a psychologist. In fact, Aristotle’s treatise on rhetoric has been called the â€Å"world’s first discussion of psychology.† â€Å"The psychological aspect of his treatise comprises about twenty of the several hundred pages Aristotle devoted to his discussion of the â€Å"available means of persuasion, one way of defining the term rhetoric † (Tefertiller 67). Nevertheless, psychology depicts one of the oldest living contents on what Aristotle called an â€Å"invention†Ã¢â‚¬â€œmeaning the right things to tell to a group. Aristotle used psychology to help people be able to understand how to speak to large groups so they can be ready for any upcoming speeches. Present is something that Aristotle wrote about peoples minds who are at ease. â€Å"It is clear also that people are calm wh en their state of mind is the opposite of being angry: for example, in play, in laughter, at a feast, in prosperity, in success, in fulfillment, generally in the absence of pain and in pleasure that does not come from insulting anybody and in reasonable expectation of the future. Supplementary, [they are calm if] their anger has cooled with time and is not in its first stage; for time makes anger cease† (Barley 45). A lot of professors have committed their existence to exploring Aristotle’s writings, mainly his discourse on language. People say that it is to be believed one of the most talented works on persuasion, especially from the early times. If it wouldn’t have been for this discourse on language as a necessary need for political and social betterment, we may have not achieved its apex for thousands of years to come. â€Å"Clearly, Aristotle’s work on the art of persuasion was a powerful force of social, indeed, even individual improvement,† said Loel Robertson. Now if you ever hea... Free Essays on The Summary Free Essays on The Summary According to a college freshman student, it is believed that Aristotle’s was known as one of the first ancient Greeks scholars, in the world, to have been a psychologist. In fact, Aristotle’s treatise on rhetoric has been called the â€Å"world’s first discussion of psychology.† â€Å"The psychological aspect of his treatise comprises about twenty of the several hundred pages Aristotle devoted to his discussion of the â€Å"available means of persuasion, one way of defining the term rhetoric † (Tefertiller 67). Nevertheless, psychology depicts one of the oldest living contents on what Aristotle called an â€Å"invention†Ã¢â‚¬â€œmeaning the right things to tell to a group. Aristotle used psychology to help people be able to understand how to speak to large groups so they can be ready for any upcoming speeches. Present is something that Aristotle wrote about peoples minds who are at ease. â€Å"It is clear also that people are calm wh en their state of mind is the opposite of being angry: for example, in play, in laughter, at a feast, in prosperity, in success, in fulfillment, generally in the absence of pain and in pleasure that does not come from insulting anybody and in reasonable expectation of the future. Supplementary, [they are calm if] their anger has cooled with time and is not in its first stage; for time makes anger cease† (Barley 45). A lot of professors have committed their existence to exploring Aristotle’s writings, mainly his discourse on language. People say that it is to be believed one of the most talented works on persuasion, especially from the early times. If it wouldn’t have been for this discourse on language as a necessary need for political and social betterment, we may have not achieved its apex for thousands of years to come. â€Å"Clearly, Aristotle’s work on the art of persuasion was a powerful force of social, indeed, even individual improvement,† said Loel Robertson. Now if you ever hea...

12 Easy Steps to a Successful Job Interview

12 Easy Steps to a Successful Job Interview Some of these are standard, and some are surprising. Keep the usual advice in mind about standing up straight and dressing appropriately. Then just follow the list and you’ll feel great about your interview process. 1. Do the geeky researchDig into Earnings Calls, Quarterly Reports, etc. Read the company blog. And quote them back to them. Then, don’t just reference the things you learned, but formulate a new or unique insight about what you’ve learned that can show off your skills and how well you did your homework. When possible, incorporate data that’s most relevant to them.2. Set Google AlertsIn the ramp-up to the interview, set a Google alert for yourself for every time something new hits the internet about the company you want to work for. That way you won’t forget to search every couple of days, and good intel for your interview will come straight into your inbox.3. Scrub your social mediaUse a service like Social Sweeper to get rid of any sus picious photos or content on your Facebook and Twitter profiles. This will spare you getting booted from an interview on the basis of some stupid post your drunken cousin put up three years ago of you at a toga party.4. Pick Tuesday 10:30 a.m.Research actually suggests that this is the primo interview slot. Ask for it whenever you can. It’s not a warming up or wrapping up day like Monday and Friday, it’s not right after lunch or right before†¦ and it’s still fresh in the week. Then again, if the company is hiring quickly, take the soonest slot you can get, rather than waiting for the perfect time.5. Ready a â€Å"story statement†You will get asked the â€Å"tell us a bit about yourself† question. Be ready with a unique and fresh answer. Cut out all the filler and the set-up and jump in with the key points in the narrative- the epiphany, the meaningful observation, the overarching point. When done right, you can sell them on you both personally and professionally, crafting a story that makes you both likeable and obvious as the top choice for the job.6. Stick with subtle fashion choicesWear a conversation piece. If there’s something you want to emphasize about your candidacy- your heritage, your hobbies, your recent trip to Timbuktu- try wearing something that might spark a question. And have an answer ready.7. Sell your weaknessYou will be asked about your weaknesses. Don’t overthink- and don’t try to pretend your strength is a weakness; interviewers will see right through this. Come up with an honest weakness and then explain how you’re already working to turn it into a strength.8. Use  PARPAR= problem, action, result. A situation, your solution, and what changed. Have three (at least) anecdotes ready to go that showcase the PAR process for you to great success. The more specific the better. These answers can plug neatly into the â€Å"tell me about a challenging moment at your current job † or â€Å"tell me about a time you worked on a team† questions.9. Think out loudIf your interviewer asks you an analytical question, this is like a math test in school; it’s okay to show your work. Thinking out loud shows your thought process, so even if it takes you a minute to get the answer- or you get it wrong, at least the interviewer knows there’s a good brain in your skull. It shows effective communication, and makes it easier for you to go back and fix any errors.10. Ask double questionsIf you can get two answers with one question, that’s a much better and more economical use of your time. You only get a few questions at the end, after all, best to make them count. Bonus points if you can subtly convey an extra selling point about yourself that you couldn’t squeeze into your earlier answers.11. Go for brokeAt the very end, consider asking bluntly, but respectfully, â€Å"Have I given you any reason to think I wouldn’t be a go od fit for this position?† It’s a big risk, and you should practice asking honestly and with the appropriate tone. But it can bring a valuable result. Think of it this way: if they say ‘yes,’ you’re still in the room and have one last chance to change their minds!12. Personal thanksEmail (or better- handwrite) a personal thank you note immediately after the interview. Get it on their desk within 24 hours of speaking with you. Even if you don’t get the job, your interviewer might find your note months later and call you in for another position. Make the best impression possible, even after the fact.

Personal reflective paper Essay Example | Topics and Well Written Essays - 1000 words

Personal reflective paper - Essay Example They stated that I was not audible and I was not convincing. Since then, I have put a lot of attention on my communication. Despite achieving some improvements, I am yet to learn how to use non-verbal communication skills. However, in order to lead other subordinates in the organization, I need to learn how to use these skills. Currently, the market keeps on changing. Therefore, the organization are employing employees who emanates diverse culture, religion, race, and gender. This is meant to enable the organizations to deal with varying challenges. However, diverse groups are facing various challenges because such people have different ways of dealing with issues. Therefore, conflicts are rampant in such groups. As a leader, I will be faced with a challenge of ensuring that these groups work as a single unit. Therefore, I need to learn on how to work with diverse groups. One of my worst leadership experience occurred during my high school years. As a leader, I was delegating responsibilities to the other team members. Therefore, I was not participating in the task. However, during the presentation of the assignment, the panel announced that the leaders of the groups were the ones to present the assignments. I was not prepared and I had no idea on what the team member had drafted. Therefore, we failed as a group and we were forced to repeat the whole unit. My best leadership experience came during my internship. I was assigned a number of international students who came from different counties and placed in the organization. I was informed that I had to train them how to work as a single unit. In order to achieve this role, I made it mandatory for them to communicate each day. In addition, I emphasized that they were supposed to appreciate the diverse views of each other. Furthermore, they were to use their diverse skills towards achieving the overall objective

Health and Safety Management Essay Example | Topics and Well Written Essays - 2000 words

Health and Safety Management - Essay Example Creating and maintaining a positive health and safety culture are important to an organization. The Successful and Safety Management (HSG 65) drafts a framework for managing health and safety pertaining to planning, accident and incident investigation, as well as health and safety auditing towards this end. HSG 65 explains the costs of getting it wrong and the likewise good effects of health and safety management to an organization. Knowledge of health and safety management through HSG 65 is aimed at directors, managers, supervisors, owners of small firms, employee representatives, and other key players in the organization who can effectively put into both policies and practice the significance of effectively managing health and safety. The importance of health and safety in organizations is so tremendous that statistics attest that at least one person is killed and over 6000 are injured at work in every working day in Britain (HSE 2003). Work-related illnesses prompt workers and emp loyees to take time off and around 30 million workdays are lost to these illnesses as a result (HSE 2003). In addition to the cost of personal injuries, workers and their families may incur far greater costs from damage to property and equipment, not to mention lost production. The culprit to all these expensiveness and loss of productivity is a mismanaged/mishandled health and safety procedures or even lack of any health and safety management at all. Insurances protect employees from financial downfall.... Creating and maintaining a positive health and safety culture are important to an organisation. The Successful and Safety Management (HSG 65) drafts a framework for managing health and safety pertaining to planning, accident and incident investigation, as well as health and safety auditing towards this end. HSG 65 explains the costs of getting it wrong and the likewise good effects of health and safety management to an organisation. Knowledge of health and safety management through HSG 65 is aimed at directors, managers, supervisors, owners of small firms, employee representatives, and other key players in the organisation who can effectively put into both policy and practice the significance of effectively managing health and safety. The importance of health and safety in organisations is so tremendous that statistics attests that at least one person is killed and over 6000 are injured at work in every working day in Britain (HSE 2003). Work-related illnesses prompt workers and employees to take time off and around 30 million workdays are lost to these illnesses as a result (HSE 2003). In addition to the cost of personal injuries, workers and their families may incur far greater costs from damage to property and equipment, not to mention lost production. The culprit to all these expensiveness and loss of productivity is a mismanaged / mishandled health and safety procedures or even lack of any health and safety management at all. Insurances protect employees from financial downfall due to these illnesses and workplace accidents, which the organisation spends for (Willis and Adelowo 1997). It apparently involves a lot of

How ecommerce helped the freight forwarding business

How ecommerce helped the freight forwarding business Introduction The implementation of internet and electronic communication systems is changing the traditional face of freight forwarding and the shipping industry has to change with it. It is evident that e-commerce is no longer an emerging technology and it has already conquered a major place in the heart of freight forwarding business. Electronic communication system has become one of the main trump card in shipping industry to live up the higher expectations of a customer. This paper will review briefly the applications of e-commerce in general and in particular to the transport sector especially freight forwarding business. E-Commerce Electronic commerce is defined as the electronic exchange (delivery or transaction) of information, goods, services, and payments over telecommunications networks.It involves mainly distribution, buying, selling, marketing and servicing of products or services through the use of electronic means such as the Internet, and other computer networks. E-commerce has grown exponentially due to the convergence of technological developments, the merging of the telecommunications and computing industries, and globalised business models. The universal adoption of the Internet not only led to further rapid growth of the B2B sector, but also created a new business-to-consumer (B2C) market.The main factor that put e-commerce towards the top of the public is the popularisation and commercialisation of internet. E-commerce now touches virtually all aspects of economic and social life.(Swamidass,2000) Freight Forwarding Freight forwarders acts as an intermediary between exporters, importers or other companies organising efficient transportation of goods. They makes arrangement for transportation of goods by satisfying the customer requirements using various services like Shipping lines, Airlines Road and Rail freight operators. There are a lot of companies involved in freight forwarding business and these varies according to the size and type. In some cases the freight forwarders will only deal with particular goods only and they will be confined to certain geographical areas. Following are the functions carried out in freight forwarding business Cargo consolidation and multimodal transport Transhipment Packing, warehousing and distribution. Arranging cargo insurance Documentation and customs clearance Payment of freight and local taxes Saved fax, phone and courier costs Possibility to reuse information and create templates Transport distribution analysis and transportations arrangements (UNESCAP,2011) Greater speed in transactions In e-commerce, transactions are faster than traditional commercial transactions. Before the advent of e-commerce, freight forwarders prepared the documents with the help of a lawyer and lot of stamps were used. The main advantage of e-commerce is that it allows electronic exchange of cargo documents through internet like bill of lading instructions, freight invoices, container status messages, motor carrier shipment instructions, and other documents with increased accuracy and efficiency by eliminating the need to re-key or reformat documents. It also enables streamline document handling for shippers, freight forwarders and trucking firms without the monetary and time investment required by the traditional document delivery systems and thus paperwork is significantly reduced and the shipping department will therefore be more efficient.(ELC,2011).For example US Customs Service supports an EDI-based system for ocean cargo which can report, electronically, the cargo manifest, bill of la ding and other shipping-related information. This online data system has proved to be beneficial in permitting quicker cargo release and increased carrier productivity through reduced cargo-processing time. It has also helped some port authorities to become more competitive by reducing cargo customs clearance and processing times.(GXS,2011) Use of e-commerce in cargo handling documentation helps in: Reducing costs Improving data accuracy Simplifying business processes Accelerating business cycles Enhancing customer service.(ELC,2011) Shipment tracking Clients need connectivity with the Freight Forwarding systems to access their files for status, to extract reports from Freight Forwarding databases, and have their shipments processed in an error free and timely manner. Shipment tracking engages global positioning systems(GPS), which keep track of vehicles so that customers can find out exact location of the shipment at a given time. This gives instant shipping information access to anyone in the company, from any location. The greatest demands for shipment tracking has developed in express or parcel delivery services.(ELC,2011) DHL is an example of a company where tracking has always been a crucial component to operations, which began with customers making calls to customer service to trace their goods. Now a number of options are available (Smith, 2002) Business Asia). Customer orientation E-commerce helps in delivering better services to their customers like providing websites which helps the customer to gather information about the freight forwarders whom they wish to transit their goods. The customers can make right decision regarding their selection of the right freight forwarders. Some companies provide tariff information on the Internet sometimes along with calculators, enabling the shipper to input details such as cargo origin and destination, cargo characteristics, etc., providing the required freight rate instantly. These systems provide considerable benefit to shippers by simplifying and expediting numerous tasks involved in freight rating, which would otherwise involve considerable time, cost and human resources to complete .Another fact is that these website helps in boosting, branding and building up the goodwill of the freight forwarders for the purpose of marketing.(Lai Wang,2008) FedEx uses their secure saver which helps the software to set up an online catalogue and the order-handling system hooks into a user interface which helps to register online customersà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ orders and make sure of confirmation numbers. With automatic inventory updating it is possible to pack the order.(Timmer 1999).. FedEx also has an E-Commerce Builder program, which offers Web design, hosting, order management, real-time financial settlement, and fulfillment to small and midsize companies, at no cost.(Business wire,2011) Shipping portals These have become a major strategic positioning exercise by liners, but internal strategies vary. The three major liner shipping portals online are GT Nexus, an e-logistics software company, using its portal to drive its strategy of becoming a global leader in e-logistics software and services; INTTRA, an industry portal rather than a software provider, aiming to facilitate the interaction between users and their carriers; CargoSmart, aiming to add value to core booking and tracking facilities and to provide a more complete solution to users.(Wn,2011) 3PL Logistics Increased adoption of logistic out-sourcing by manufacturing companies has led a steady growth of third party logistics (3PL) and in recent years, most of the traditional freight forwarders have transformed into 3PL.For the smooth operation of the organisation It is important to have successful information exchange between the parties involved in the business and to cooperate with remote warehouses and inland transport provider. Here e-commerce plays a vital role in helping the freight forwarders to sort out the problems with efficient communication systems and tools like EDI and ETF while they are emerging wholly as a 3PL. (Bumstead and Cannons,2002) ILG is a traditional freight forwarding company and now has emerged into a 3PL and provides services like shipping, e-commerce support, warehousing, fulfilment and the company believes that without the help of e-commerce they wouldnà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢t have emerged as a 3PL (ILG,2011) Crown logistics, a freight forwarding company in Hong Kong with the help of e-commerce have helped to improve the utilization of its resources, such as warehouse space transportation fleets, customs procedures, specialized packing and transports, on-time delivery and tracking technology. Company itself is in the process of expanding its operations across greater China, with the objective of becoming a full-pledged 3PL company (Crown logistics,2011). Port services Several maritime ports around the world, including those of New York, Rotterdam, Singapore and Hamburg have electronic systems which link up various parties engaged in the movement of freight through the port, including shippers, forwarders, customs, terminal operators, carriers and other port users. Singapore TradeNet, an EDI system that has dramatically reduced turnaround times for processing information about ship arrivals, loadings and unloadings and departures .(Applegate et al,1993) According to Lee and Whang in the near future, there will be an explosion of business-to-business applications of the Internet as visionary companies develop new paradigms of e-business for the future. This can be understood also to refer to new technologies that extend the ambit of e-business, such as mobile communications technology.(Lee Whang,2001) Conclusion: E-commerce is an essential requirement in modern business methodology that cuts costs and at the same time increases the quality of services and thus achieving greater efficiency in freight forwarding business. The scope and range of these benefits makes it clear that e-commerce in the form of e-business processes and systems can have an enormous impact in terms of benefits to the entire supply chain. Word Count: 1480

The Motion Picture Industry: Executive Summary

The motion picture industry is a competitive business. More than 50 studios produce a total of 300 to 400 new movies each year. The financial success of each motion picture varies considerably. The opening weekend gross sales (in millions), the total gross sales (in millions), the number of theaters in which the movie was shown, and the number of weeks the motion picture was in the top 60 for gross sales are common variables use to measure the success of a movie. Data Collected for a sample of 100 movies produced in 2005 are contained in the file named Movies. xlsx. This file is attached to the assignment link on Blackboard. Using this data prepare an executive summary detailing how each of the variables help explain the total gross sales. In other words, your total gross sales is a function of opening gross sales, number of theaters, and number of weeks in the top 60. The executive summary will contain the following parts. 1. What are your initial assumptions or hypotheses? Which of the variables have the highest correlation with total gross sales? IE, which variables to you think make the most difference toward total gross sales? By studying the information, I believe the variable with the highest correlation with total gross is the opening gross sales. The movie with the highest opening gross also ends up with the highest total gross sale. 2. Develop the descriptive statistics for each of the four columns. 3. Develop tabular and graphical summaries for each of the four variables along with a description of what each summary tells us about the motion picture industry, if anything. 4. Develop a scatter diagram to explore the relationship between total gross sales (y) and opening weekend sales (x). Display the regression and slope equations with a trend line. . Develop a scatter diagram to explore the relationship between total gross sales (y) and Number of theaters(x). Display the regression and slope equations with a trend line. 6. Develop a scatter diagram to explore the relationship between total gross sales (y) Number of weeks in the top 60 (x). Display the regression and slope equations with a trend line. 7. Which of these three variables have the most effect on total gross sales? Does this make sense to you? Why or Why not? * T he variable that effects the total gross sales the most is the opening sales with R? = 0. 9298. It does make sense to me because usually If the movie does not start with a high opening gross, meaning people don’t go to premier, it will start falling behind as other movies are following to come out. 8. Does this final analysis square with your initial assumptions or hypothesis? Why or why not? -Yes it does, in my hypothesis I came to the conclusion that opening gross was the main variable and had the most effect as it was shown in the data given, and It made sense to me since I watch a lot of movies, usually if it doesn’t start with a high gross, it will not have a great total gross sales if comparing to other movies. . If you were the marketing executive in charge of spending $100 million to promote the new Iron Man 3 movie coming out this summer, where would you concentrate your money and efforts? Why there? -I would concentrate the money in trailers and commercials as this is how it will show consumers how the movie will be, a sneak peak which everyone loves, an d for the ones that don’t have an idea of what the movie is about, it will show them and will most likely encourage them to watch the movie, pretty much it pumps up people and excite them to watch the movie.