Tuesday, November 26, 2019

Free Essays on Great Composer

Claudio Monteverdi is a 16th, 17th Century composer who helped move music in new directions. Through his compositions, Monteverdi brought new composing techniques to the world, and helped change the, what was then, traditional genres, andmove them through his progressive writing style. Though first, Monteverdi’s life must be seen. Knowing were a person has been can greatly help someone, especially an artist. Second, of Monteverdi’s works, his first five books of madrigals helped to bring in new changes to the music world. Therefore, to see the life, and section of works of a composer, Monteverdi is seen as a great progressive composer of his, and for all time. Claudio Monteverdi was born in Cremona1, on May 15, 1567 and died in Venice on November 29, 1643(Boynick). Monteverdi studied with Ingegneri, maestro di cappella at the Cremona cathedral, and published several books of motets and madrigals before 1591 (Boynick). While under Ingegneri, Monteverdi was groomed carefully, and seemed to have been held back before publishing to make sure of Monteverdi’s developing composing skills (Carter, Madrigals and arias 509).In 1591 Monteverdi left for Mantua to the court of the Duke Vincezo Gonzaga, there serving as a sting player in the court (Boynick). Monteverdi studied under Giaches de Wert, the resident maestro di cappella while in Mantua (Boynick). Monteverdi then met and married Claudia de Cattaneis, a court singer. Claudia bore three children to Monteverdi. Monteverdi later became maestro di cappella succeeding Pallavinco, whom succeeded Giaches (Boynick). To help secure this position, Monteverdi wrote the Duke Gonzaga about this appointment citing that he â€Å"...affectionately requested [ the position of maestro di cappella and sought out with humility (Stevens 37). Monteverdi published his first opera Orfeo in Mantua in 1607, followed by Arianna, which contracted remarkable reputation (Carter Lamenting Ariadne 395), ... Free Essays on Great Composer Free Essays on Great Composer Claudio Monteverdi is a 16th, 17th Century composer who helped move music in new directions. Through his compositions, Monteverdi brought new composing techniques to the world, and helped change the, what was then, traditional genres, andmove them through his progressive writing style. Though first, Monteverdi’s life must be seen. Knowing were a person has been can greatly help someone, especially an artist. Second, of Monteverdi’s works, his first five books of madrigals helped to bring in new changes to the music world. Therefore, to see the life, and section of works of a composer, Monteverdi is seen as a great progressive composer of his, and for all time. Claudio Monteverdi was born in Cremona1, on May 15, 1567 and died in Venice on November 29, 1643(Boynick). Monteverdi studied with Ingegneri, maestro di cappella at the Cremona cathedral, and published several books of motets and madrigals before 1591 (Boynick). While under Ingegneri, Monteverdi was groomed carefully, and seemed to have been held back before publishing to make sure of Monteverdi’s developing composing skills (Carter, Madrigals and arias 509).In 1591 Monteverdi left for Mantua to the court of the Duke Vincezo Gonzaga, there serving as a sting player in the court (Boynick). Monteverdi studied under Giaches de Wert, the resident maestro di cappella while in Mantua (Boynick). Monteverdi then met and married Claudia de Cattaneis, a court singer. Claudia bore three children to Monteverdi. Monteverdi later became maestro di cappella succeeding Pallavinco, whom succeeded Giaches (Boynick). To help secure this position, Monteverdi wrote the Duke Gonzaga about this appointment citing that he â€Å"...affectionately requested [ the position of maestro di cappella and sought out with humility (Stevens 37). Monteverdi published his first opera Orfeo in Mantua in 1607, followed by Arianna, which contracted remarkable reputation (Carter Lamenting Ariadne 395), ...

Friday, November 22, 2019

Tentacle - Definition of Tentacle

Tentacle - Definition of Tentacle Definition When used in a zoological context, the term tentacle refers to a slender, elongated, flexible organ that grows near the mouth of an animal. Tentacles are most common in invertebrates, although they are present in some vertebrates as well. Tentacles serve a variety of functions and can help the animal to move, feed, grasp objects, and gather sensory information. Examples of invertebrates that possess tentacles include squid, cuttlefish, bryozoa, snails, sea anemones, and jellyfish. Examples of vertebrates that posses tentacles include caecilians and star-nosed moles. Tentacles belong to a group of biological structures known as muscular hydrostats. Muscular hydrostats consist mostly of muscle tissue and lack skeletal support. The fluid in a muscular hydrostat is contained within the muscle cells, not in an internal cavity. Examples of muscular hydrostats include the foot of a snail, the body of a worm, a human tongue, an elephant trunk, and octopus arms. One important clarification should be noted about the term tentacle- although tentacles are muscular hydrostats, not all muscular hydrostats are tentacles. This means that the eight limbs of an octopus (which are muscular hydrostats) are not tentacles; they are arms. When used in a botanical context, the term tentacle refers to the sensitive hairs on the leaves of some plants, such as carnivorous plants.

Thursday, November 21, 2019

Forensic Psychology and Criminal Investigation Essay - 7

Forensic Psychology and Criminal Investigation - Essay Example The first thing to be realised is that Thornhill is at greater risk for reoffending perhaps because of some inadequacy in his current life in conjunction with his previous history (Laureate International Universities, 2012). The period between Thornhill’s previous offence and current offence is around five years indicating a period of calm in his life. It is highly likely that some stimulus such as perhaps problems with his girlfriend are bothering Thronhill and causing him to reoffend. It would be unadvisable to look into Thornhill’s case without a fresh forensic psychologist review. Based on the review provided by the forensic psychologist, it could be seen if Thornhill requires community support or time at a regular detention facility to solve his current problems (Laureate International Universities, 2012). The presence of long knives at the home of Thornhill provide for the possibility that the offender might use these in order to inflict violence and possibly murder his girlfriend especially when under the influence of alcohol or drugs. In order to preclude such a possibility, it would be advisable to send a Domestic Violence Officer (DMO) to the house of Thornhill and his live in girlfriend to find out if violence has occurred or is suspected. Given the nature of Thornhill’s unfaithfulness, it is likely that his girlfriend may refuse his entry into the house. However, this is just a possibility as yet and the DMO can discuss this issue with the girlfriend as well. In case that the live in girlfriend does not wish to accommodate Thornhill, it would be advisable to provide her a security plan since Thornhill might attack her out of rage. However, in case that she allows Thornhill back, she should still be given a security plan to contact the police as soon as she is threatened by the offender. If Thornhill’s girlfriend does

Tuesday, November 19, 2019

Product development Assignment Example | Topics and Well Written Essays - 4500 words

Product development - Assignment Example development of new products has increased a lot and also the products are developed at a good speed with high performance and also to get cost advantage. This process has become more stringent and also the companies have looked to focus a lot on this side. The companies need to have a good co-ordination, need to improve well and also reconfigure the whole capabilities of the company. Though for the company it is very important that all the departments do perform well and in efficient way. The suppliers do also affect a lot in the way the company introduces a new product in the market. The Original Equipment Manufacturers (OEMs) are one of the major players who decide and give the idea about the new product that can be developed by the company for attracting more number of customers. For any particular company which does produces goods the suppliers and the Original Equipment Manufacturers (OEMs) do play a vital role. The company does depend a lot on its 1st tier and 2nd tier suppliers for the materials so that they can look forward towards developing a new concept and a new product. There are basically 7 steps involved in the new product development process (Barclay, Dann and Holroyd, 2010, pp. 34-37). The steps are been shown in the diagrammatic form in the below diagram. In this process the strategy is been developed which is related to the development of the new product in the company which should be in line with the objectives that are been followed by the company and also must help the company to achieve its goals. In this step the return on investment with regard to the new product that is going to be developed is been determined and estimated which gives a clear indication of how the new product can be beneficial for the company. In this step the new product is been commercialized and launched in the market for the customers to get more market share and also to get competitive advantage over the competitors (Fuller, 2011, pp. 45-49). The involvement

Sunday, November 17, 2019

Tims Coffee Shoppe Essay Example for Free

Tims Coffee Shoppe Essay In this weeks assignment I will be researching coffee bean producing countries in order to find a supplier for Tims Coffee Shoppe. For this assignment I will be looking at all of the possible effects of importing beans from other countries could have in Tims bottom line for sales. I will also be researching how the different countries environmental laws either align with our country or what Tim may have to do in order to market his coffee appropriately as Tim would not want to have to keep his supplier a secret if a consumer asks where he gets his coffee from. The country I have chosen to buy coffee from would be Brazil. According to an article in Business Week, Brazil is the largest coffee producing country in the world (Businessweek. com). Brazil produces many different types of coffee beans and will potentially sell over 48. 6 million bags of coffee in the year 2013 (businessweek. com). I have chose Brazil because since 1988 they have came a long way with environmental standards and also their trade policies when it comes to exporting goods. In 2011, Brazil was the U. S. argest source of imports and has many opportunities for growth for companies that want to do business in this country (export. gov). The Strauss Company located in Brazil would be the company I would use to get my coffee imported from. In 2000, the Strauss Company acquired Cafe Tres Coracoes which is located in Brazil and in 2005 became the 2nd largest coffee company in Brazil (export. gov). This is the company I would chose do to the fact that they took a chance as wel l in the coffee market in Brazil and it paid off. This company knows what it takes to be successful and if you build a good relationship with them they could pass on tips to us for selling and promoting the coffee in the U. S. The advantages of doing business with a company in Brazil are the fact that they are open to trade and their laws align with those in the U. S. Although their law systems are complex and there will be tariffs and taxes to pay on all exports which may relate to the distribution, employee benefits and other various items may impact the costs you will incur while doing business in Brazil (export. gov). The prices of your coffee may be higher but the quality will be excellent as well. Tim will be able to make a name for himself with his new flavors and coffee products from Brazil and while making a name he will be able to gradually increase his prices for the premium coffees he is importing. I do believe there is an advantage in divulging the information of where Tim would get his coffee beans from. A lot of people look at the coffee and where it comes from, Brazil is known for a lot of its dark coffee such as the Arabic Robusta according to ICO. gov this is one of the top production beans in Brazil (ICO. ov). If people can see where the beans are coming from and know it is a quality coffee and they can also research the history of the beans, they will more likely buy the product if it is coming from a known seller and region. I think by Tims decision to go with a Brazilian bean he will see drastic improvement in his coffee and his business which will spread by word of mouth and advertisement. In doing business with the company in Brazil, Tim may face several challenges. He will have to become familiar with the countries laws and regulations in order to import their product. He will also have to look at the best way to buy the product in order to get it for the cheapest price possible in order for him to make a profit. The best way to start business transactions in Brazil is in a face to face visit with the company you plan to do business with, Brazilians rely on face to face communication and a strong relationship with their clients (export. gov). Tim will be able to make money off of the imported beans if he makes the correct decisions with his suppliers and how the beans are to be purchased and his relationship with the company in Brazil. Through hard work and dedication Tim will be able to build a great business with his coffee shop and even grow to other areas once the shop takes off. Overall, Tim has a lot of thinking to do in regards to finding a Brazilian importer who will work with him on the prices and the overall goal of what Tim wants to achieve with his coffee shoppe. Tim will need to align his decisions closely with his vision and mission statements and make sure not to over spend on the product and affect his total bottom line and not be able to make payment on his other obligations because of the cost of the coffee.

Thursday, November 14, 2019

Women Breaking Free From Their Traditional Expectations Essay -- essay

Women Breaking Free From Their Traditional Expectations   Ã‚  Ã‚  Ã‚  Ã‚  All throughout the early part of history women were portrayed as the inferior sex, because at that point in time, women were seen as beings only born to have children. Men didn’t think that women were capable of being anything other than a typical housewife. It was unthinkable that women would actually need an education, let alone earn a living, or become a leader. These ideas are revealed all throughout classical literature. Rarely was a woman seen as doing anything but being dominated by males in some form, whether she was a man’s submissive devoted wife, a sexual object, or a woman being punished for wanting her freedom. We finally begin to see women trying to break free from these traditional expectations and barriers through the lives of Janie Crawford in Their Eyes Were Watching God by Zora Neale Hurston, John’s wife in â€Å"The Yellow Wallpaper† by Charlotte Perkins Gilman, Louise Mallard in â€Å"The Story of an Hour† by Kate Chopin, and Songlian in Raise the Red Lantern by Su Tong.   Ã‚  Ã‚  Ã‚  Ã‚   Zora Neale Hurston in Their Eyes Were Watching God shows how the lives of American women changed in the early 20th century. Janie Crawford is an example of a woman in society who follows her dreams, takes control of her soul, and finds her own identity in a male dominated world. After two marriages in which Janie is ‘owned’ by the men in the relationship, she finds that she can own herself. â€Å"Janie was an unusual protagonist for her time—black, female, independent, and strong† (Shafer). Janie’s first effort to free her soul is from her husband Logan Killicks. Logan works her like a mule, making her do house chores as well as outside work. When she finally realizes that she doesn’t want to spend her life as a slave or with someone that she doesn’t love, Janie runs away to be with a man she had met only a few days before. Janie faces reality and gets out from under Logan’s rule before she becomes consumed into his world. Again Janie is only a possession of her new husband, Joe Starks. He displays her like a medal around his neck. He is so jealous of other men lusting after his wife that he restricts her to always tend the store, leave fun situations, and wear a head rag to hide her beautiful hair. Janie slowly breaks out of the shell that Starks has molded her into when she verbally defies him in front ... ...oper place was in the home. Even the laws and literary writings reflected this position. As women became more educated, they began to seek their freedom and a voice in society. This movement to gain equal rights for women has been referred to as feminism. Slowly have we made our way in history, but profoundly do we take our stand in life.   Ã‚  Ã‚  Ã‚  Ã‚   Works Cited Aull, Felice â€Å"The Yellow Wallpaper† The Feminist Press at the City Univ. of New York (New York) 1892 7 July 2000 http://mcip00.nyu.edu./lit-med/lit-med-db/webdocs/webdescrips/gilman87-des-.html Gribben, Alan. â€Å"Chopin, Kate† The World book Encyclopedia. 1990 ed. Maloney, Karen E. â€Å"A Feminist Looks at Education: The Educational Philosophy of Charlotte Perkins Gilman† Teachers College  Ã‚  Ã‚  Ã‚  Ã‚  Record vol. 99. Spring98: 514 Roberts, Edgar V. Fiction/An Introduction to Reading and Writing.  Ã‚  Ã‚  Ã‚  Ã‚  New Jersey: Prentice-Hall, Inc., 1987. 599 & 306 Shafer, Audrey. â€Å"Their Eyes Where Watching God† Harper & Row (New York) 1937 7 July 2000   Ã‚  Ã‚  Ã‚  Ã‚  http://mchip00.nyu.edu/lit-mid-db/webdocs/webdescrips/hurston1137-des-.html Stolle, James. â€Å"A Cruel Tale From China—But What A Climax!† Albert Report/Newsmagazine,   Ã‚  Ã‚  Ã‚  Ã‚  6/21/93: 44

Tuesday, November 12, 2019

Economic Development and Social Change Essay

1) What is the primary goal of modernization theory in contrast to theories of capital formation? Compare and contrast Hoselitz’ formulation of modernization theory with Lewis’ theory of capital formation In the 18th century, during the Age of Enlightenment, an idea named the Idea of Progress emerged whereby its believers were thought of being capable of developing and changing their societies. This philosophy initially appeared through Marquis de Condorcet, who was involved in the origins of the theoretical approach whereby he claimed that technological advancements and economical changes can enable changes in moral and cultural values. He encouraged technological processes to help give people further control over their environments, arguing that technological progress would eventually spur social progress. In addition, Émile Durkheim developed the concept of functionalism in the sociological field, which emphasizes on the importance of interdependence between the different institutions of a society and their interaction in maintaining cultural and social unity. His most well known work, The Division of Labour in Society, which outlines how order in society could be controlled an d managed and how primitive societies could make the transition to more economically advanced industrial societies. Another reason for the emergence of the modernization theory derived from Adam Smith’s Wealth of Nations, which represented the widespread practical interest on economic development during a time when there was a constant relation between economic theory and economic policy that was considered necessary and obvious. It was by analysing, critiquing, and hence moving away from these assumptions and theories that the modernization theory began to establish itself. At the time the United States entered its era of globalism and a ‘can do’ attitude characterized its approach, as in the functionalist modernization advanced by B. Hoselitz: â€Å"You subtract the ideal typical features or indices of underdevelopment from those of development, and the remainder is your development program†. As he also presents in Social Structure and Economic Growth , this body of economic theory â€Å"abstracted from the immediate policy implications to which it was subject† and also â€Å"assumed human motivations and the social and cultural environment of economic activity as relatively rigid and unchanging givens†(23-24). He claims that the difference lies in the extra examination of what is beyond simply economics terms and adjustments, by â€Å"restructuring a social relations in general, or at least those social relations which are relevant to the performance of the productive and distributive tasks of the society†(26). Most forms of evolutionism conceived of development as being natural and endogenous, whereas modernization theory makes room for exogenous influences. Its main aim is to attain some understanding of the functional interrelationship of economic and general social variables describing the transition from an economically â€Å"underdeveloped† to an â€Å"advanced† society. Modernization theory is usually referred to as a paradigm, but upon closer consideration turns out to be host to a wide variety of projects, some presumably along the lines of ‘endogenous change’ namely social differentiation, rationalization, the spread of universalism, achievement and specificity; while it has also been associated with projects of ‘exogenous change’: the spread of capitalism, industrialization through technological diffusion, westernization, nation building, state formation (as in postcolonial inheritor states). If occasionally this diversity within modernizat ion is recognized, still the importance of exogenous influences is considered minor and secondary. I do not view ‘modernization’ as a single, unified, integrated theory in any strict sense of ‘theory’. It was an overarching perspective concerned with comparative issues of national development, which treated development as multidimensional and multicausal along various axes (economic, political, cultural), and which gave primacy to endogenous rather than exogenous factors. (Tiryakian, 1992: 78) In the context of Cold War modernization theory operated as a highly interventionalist tool enabling the ‘free world’ to impose its rules and engage in ‘structural imperialism’. Typically this occurred in the name of the forces of endogenous change such as national building, the entrepreneurial spirit and achievement orientation. In effect modernization theory was a form of globalization that was presented as endogenous change. Modernization theory, therefore, emerged from these ideas in order to explain the process of modernization within societies. The theory examines not only the internal factors of a country but also how with the aid of technology and the reformation of certain cultural structures, â€Å"traditional† countries can develop in the same manner that more developed countries have. In this way, the theory attempts to identify the social variables, which contribute to social progress and the development of societies, and seeks to explain the process of social evolution. The question of the functional relations between all or most culture traits is left open, and special attention is â€Å"given only to those aspects of social behaviour that have significance for economic action, particularly as this action relates to conditions affecting changes in the output of goods and services achieved by a society†(30). They conceptualize the process of development in a similar linear, evolutionary form as older evolutionary theories of progress, but seek to identify the critical factors that initiate and sustain the development proc ess. These factors, they argue, are both intrinsic and extrinsic: the former involves the diffusion of modern technologies and ideas to the developing world, while the latter requires the creation of local conditions, such as the mobilization of capital, which will foster progress. Modernization theorists believe that primitive production, an anachronistic culture, and apathetic personal dispositions combine to maintain an archaic socioeconomic system that perpetuates low levels of living. Modernization theorists hold that policies designed to deal with these traditional impediments to progress primarily through economic intervention, provide the key to prosperity. Overall, Hoselitz’s modernization theory is a sociological theory of economic growth that determines the mechanisms by which thesocial structure of an underdeveloped economy was modernized – that is, altered to take on the features of an economically advanced country. Hoselitz’s answer was based on the â€Å"theory of social deviance† – that is, that new things were started by people who were different from the norm. Unlike Lewis’ theories that we will revise later, Hoselitz thought that small-scale private economic development was the best way of achieving development in Third World economies. This particularly involved revaluing what he called â€Å"entrepreneurial performance†, something that Lewis also agrees with, but in a way that provided not only wealth but also social status and political influence. In Chapter 8 of Sociological Aspects of Economic Growth, Hoselitz focuses on the creation of â€Å"generative cities† (that is, cities producing innovations) rather than traditional rural areas were the focal points for the introduction of new ideas and social and economic practices. Many of the early colonial settlements in the New World and South Africa, Hoselitz claimed, were parasitic, enjoying a certain degree of economic growth â€Å" within the city itself and its surrounding environs† only at the expense of the rest of the region, which was ruthlessly exploited for its natural and agricultural resources (p.280). Although prescriptions for inducing social change and removing cultural obstacles to economic modernization in developing countries may be described as social policies, they do not seek to deal directly with mass poverty and its attendant problems of malnutrition, ill-health, inadequate housing, illiteracy, and destitution. These critical welfare concerns are seldom referred to by modernization theorists, namely by Hoselitz. Instead, the implicit assumption in his writings is that the process of economic development and social change will raise levels of living and remedy these problems automatically. Since economic growth, engendered by capital investments in modern industry, will expand employment, the proportion of the population in subsistent poverty will steadily decline. The increasing numbers of workers in the modern economy will experience a steady rise in real income that will be sufficient not only to satisfy their basic needs for food, clothing, and shelter but permit them to purchase consumer commodities as well as social goods such as medical care, education, and social security. Arthur Lewis was one of the first economists to create a theory about how industrialized and economically stable countries are capable of helping undeveloped countries progress. He presented this theory in his work Economic Development with the Unlimited Supplies of Labor† where he brings about the concept of capital formation. He defines it as the transfer of savings from households and governments to business sectors, resulting in increased output and economic expansion. He claims that his â€Å"model says, in effect, that if unlimited supplies of labor are available at a constant real wage, and if any part of profits is reinvested in productive capacity, profits will grow continuously relatively to the national income, and capital formation will also grow relatively to the national income†(158). From here bridged off his development of the two-sector model of the economy and the theory of dualism. Both posit the existence of a substantial pool of underutilized labor in a backward, subsistent agricultural sector of an economy that perpetuates low levels of production and mass poverty. This model comprises two distinct sectors, the capitalist and the subsistence sectors. The former, which may be private or state-owned, includes principally manufacturing industry and estate agriculture; the latter, mainly small-scale family agriculture and various other types of unorganized economic activity. Here the capital, income and wages per head, the proportion of income saved, and the rate of technological progress are all much higher in the capitalist sector. The subsi stence sector is both at a very low level, and also stagnant, with negligible investment and technical progress and no new wants emerging. Institutional arrangements are the ones maintaining this chronic disequilibrium between the sectors, implicit in these differences in real income and productivity. In the extended family the members receive approximately the average product of the group even if the marginal product is much less. The process of development, initiated by an increase in the share of capitalists in the national income, I essentially the growth of the capitalist sector at the expense of the subsistence sector, with the goal of the ultimate absorption of the latter by the former. To some extent, this is similar to Hoselitz’s development of the modernization theory, whereby the claims that the formation of his generative cities (a) creates a new demand for industrial raw materials from the surrounding region, and (b) attracts new population to the cities, thereby increasing the demand for food from the countryside. The net effect of these forces is a â€Å"widening of economic development over an increasing area affecting a growing proportion of the population outside the city†(Hoselitz, 282). However, Lewis’ theory has several limitations and conditions, most importantly that his theory can be applied only in countries with unlimited supplies of labor. Unlimited supplies of labor arise from the employment of more workers than is productively effective. Lewis went through all of the areas of Caribbean society where he thought there were pools of labour in which the marginal productivity was negative, negligible or zero. His plan now was to make this a potential, industrial labour force. He could take all of the labour away from agriculture, away from casual labour, without lowering the profit margins of the places where they are currently employed. This was not a radical, disruptive assault on the existing economic order, which resulted in one of the main reasons that his theory was so successful. Ineffective production, occurring when an additional worker prevented the previous one from producing another product (hence equaling a negative marginal productivity) was common in the Caribbean, Southeast Asia and other undeveloped regions of the world. Several sectors of the economy employ too many people with negligible, zero or negative marginal productivity. According to Lewis these productively unnecessary individuals are employed in agriculture, or are casual workers, petty traders, or women of the household. He claims that the transfer of these people’s work from these areas towards commercial employment is one of the most notable features of economic development. The second source of labor for expanding industries is the increase in the population resulting from the excess of births over deaths. After his analysis of the effect of development on death rate, whereby he concludes that â€Å"[death rates] come down with development from around 40 to around 12 per thousand†(144), he claims therefore that â€Å"in any society where the death rate is around 40 per thousand, the effect of economic development will be to generate an increase in the supply of labor†(144). From this point of view, he states, †Å"there can be in an over-populated economy an enormous expansion of new industries or new employment opportunities without any shortage of unskilled labor†(145), though too many people could again cause ineffective production. He clarifies this by saying, â€Å"Only so much labor should be used with capital as will reduce the marginal productivity of labor to zero†(145). This can be achieved by offering and maintaining decently high wages. The wages offered should be only slightly higher than the wages available in the subsistence sector, since wages that are too high may attract more workers than needed. But firstly, and perhaps most importantly, entrepreneurial-minded capitalists are required in order to invest in the nation. Tax holidays attract the foreign capitalists. It is not a very difficult task, because they have very good incentives to come. The planter class in the Caribbean seemed just like the planter class in the American South – it had no desire to go industrial and no desire to go competitive. It was still trapped in a situation between an old monopoly system and a market situation since they were able to negotiate for a protected market for sugar, not a competitive market. Lewis then looked around realized the only way he could keep this program of industrialization launched would be by visiting England and America where capitalists and entrepreneurs were flourishing and foster their entrance into the Caribbean. Again, he employed the concept of a dual economy where a subsistence sector existed, but also from where he created from scratch this modern industria l sector to establish on modern capitalism. Capitalists in North America and Europe found these labouring conditions and costs in the Caribbean quite attractive. Getting this labour to the imported capitalists would not be resisted locally because he was taking those labourers with marginal productivity of zero. Once they began working, he would then re-invest more capital into the factory, so that it could expand, employ more workers, export more products, and increase profits, hence developing a self-feeding system that would eventually lead the national income to grow. Although Hoselitz also is of the belief that the formation of a dual economy is beneficial, rather than necessarily attract foreign capitalists through such incentives, Hoselitz believes that the creation of westernized cities led the way forward. He claims that cities modelled after the Western cities exhibited a spirit difference from the traditionalism of the countryside. In this way, he differs slightly from Le wis in that he favored a shift in political power away from traditional leaders and toward total control by economic and urban modernizers in underdeveloped countries, not necessarily foreign entrepreneurial capitalist as Lewis asserts. Lewis knew that some products would work better than others, so he developed an Industrial Programming Market – a number of basic calculations about those particular commodities, if produced in the Caribbean, would be particularly competitive internationally. And so as a result of this study Lewis found that the production of airbrushes, gloves, furniture, needles, shirts, and leather goods would be particularly good to produce, given the skills of the labour force available at the time. For the self-feeding system to be a continuous process, costs of labour had to remain fairly constant. If the cost of labour rose too rapidly, they would not be sustained since the goods would no longer be internationally competitive. The key to this model is indeed international competitiveness. Capitalists can create more capital when the supply of money is higher, and hence if governments create credit, inflation arises yet does not have the same effect as the inflation that arises during depression periods. This inflation only has an effect on the prices in the short-run so that in the long run the final effect equal to what it would be if capital was formed by the reinvestment of profit. Lewis discusses at so me length the methods by which governments of underdeveloped countries can raise revenue, especially the substantial funds required for government capital formation. For familiar political and administrative reasons much of this revenue has to be raised from indirect taxes, notably import and excise duties and export taxes. He argues that indirect taxation is more likely to increase than to decrease the supply of effort: The taxpayer usually does not know how much tax is included in the prices of the articles he buys, so in so far as the disincentive effect of taxation is psychological it can be avoided by using indirect rather than direct taxes†¦ If it is an increase in indirect taxation, the effect is probably to increase effort rather than to reduce it (414). Because of the multiple restrictions in this model, it is designed for countries with unlimited supplies of labor and hence this growth has a limit: â€Å"The process must stop when capital accumulation has caught up with population, so there is no longer surplus labor†(172). Furthermore, if wages are too high, they may consume the entirety of the profit leading to no re-investment. Several other reasons for the end of capital formation vary; the occurrence of natural disasters, war or a change of political system can also prevent further economic expansion in a closed economy. Lewis’ model is powerful but also highly restricted and specific to only a handful of nations. Some critics also claim that the distinction between the two sectors is too sharp; that small-scale agriculture is often far from stagnant and the emergence of the production of cash crops by individual producers has in fact been a key instrument in economic development since capital formation is actually created in this type of agriculture. Also, this model requires low wages for the labor force, yet very low wages result in a wide gap between the lower and upper class in a society, an issue that many have questioned thoroughly. Lewis says openly that exploitation can easily occur in this model, but that it is part of capital accumulation. He believes that one has to sacrifice a generation to grow the economy, because he assumed that if all goes well and more consumers are attracted to Caribbean, they will generate more business, and the economy will grow to the point where the weal th can be redistributed to the people. He reckoned that it would take, given the rate of growth that he observed in the Caribbean, one generation, thus a period between 40 and 50 years, to grow the economy and claim that poverty could be eradicated in this region. And yet the cost of this would be exploiting this generation, so that their children could benefit from it later. Hoselitz, as stated earlier, applied the ideas of Parsons and other sociologists to an analysis of the development process under the assumption, drawn from Adam Smith, that increasing productivity was associated with more detailed social divisions of labor: A society on a low level of economic development is, therefore, one in which productivity is low because division of labor is little developed, in which the objectives of economic activity are more commonly the maintenance or strengthening of status relations, which social and geographical mobility is low, and in which the hard cake of custom determines the manner, and often the effects, of economic performance. An economically highly developed society, in contrast, is characterized by a complex division of social labor, a relatively open social structure from which caste barriers are absent and class barriers are surmountable, in which social roles and gains from economic activity are distributed essentially on the basis of achievement, and in which, therefore, innovation, the search for and exploitation of profitable market situations, and the ruthless pursuit of self-interest without regard to the welfare of others is fully sanctioned. (Hoselitz, 1960: 60). These preceding theories both provide us with some preliminary indications and developments of views of modern social orders broader than that envisaged in the initial models provided. They stress the historical dimensions of the process of development, emphasizing that this process is not universal, something in the very nature of humanity or in the natural development of human societies. Instead, the modernization process is fully bound to a certain period in human history, even though in itself it is continuously developing and changing throughout this period. Development and the challenges it brings forward constitute a basic given for most contemporary societies. Though it certainly is pervasive in the contemporary setting, it is not necessarily irreversible in the future, and it would be wrong to assume that once these forces have impinged on any â€Å"society†, they naturally push toward a given, relatively fixed â€Å"end-plateau.† Rather, as we have seen, they evoke within different societies, in different situations, a variety of responses which depend on the broad sets of internal conditions of these societies, on the structure of the situation of change in which they are caught, and the very nature of the international system and relations, whether those of â€Å"dependency† or of international competition. Section 2 5) Briefly outline David Ricardo’s theory of comparative advantage; then outline in greater detail Samir Amin’s theory of periphery capitalism and why he thinks that trade between the central and peripheral capitalist economies does not meet the conditions of Ricardo’s theory In 1817, David Ricardo, an English political economist, contributed theory of comparative advantage in his book ‘Principles of Political Economy and Taxation’. This theory of comparative advantage, also called comparative cost theory, is regarded as the classical theory of international trade. According to the classical theory of international trade, every country will produce their commodities for the production of which it is most suited in terms of its natural endowments climate quality of soil, means of transport, capital, etc. It will produce these commodities in excess of its own requirement and will exchange the surplus with the imports of goods from other countries for the production of which it is not well suited or which it cannot produce at all. Thus all countries produce and export these commodities in which they have cost advantages and import those commodities in which they have cost disadvantages. Ricardo states that even if a nation had an absolute disadvantage in the production of both commodities with respect to the other nation, mutually advantageous trade could still take place. The less efficient nation should specialize in the production and export of the commodity in which its absolute disadvantage is less. This is the commodity in which the nation has a comparative advantage. Ricardo takes into account the following assumptions: there are two countries and two commodities; there is a perfect competition both in commodity and factor market; cost of production is expressed in terms of labor; labor is the only factor of production other than natural resources; labor is homogeneous i.e. identical in efficiency, in a particular country; labor is perfectly mobile within a country but perfectly immobile between countries; there is free trade; production is subject to constant returns to scale; there is no technological change; trade between two countries takes place on barter system; full employment exists in both countries; there are no transport costs. In 1973, Samir Amin, an Egyptian political economist, begins his dialogue in Unequal Development by referring to Marx’s writing on non-European societies, namely India and China, and creates a work in which he reevaluates Peter Evans’ theory of Dependent Development and simultaneously presents his theory of peripheral capitalism in developing societies. He shows how these early ideas established the notion of the centre and the periphery, and how â€Å"the development of capitalism in the periphery was to remain extraverted, based on the external market, and could therefore not lead to a full flowering of the capitalist mode of production in the periphery†(199). He then begins to develop his own theory of the transition to peripheral capitalist economy by questioning David Ricardo’s assumptions in his theory of comparative advantage, and later outlines nine theses to support his views. Peripheral capitalism is based on, but not identical to, the imperialistic relationships developed between colonizing nations and their colonies. In this economic relationship, the players are the same – the colonizing nation becomes the â€Å"center†, while the colony becomes the â€Å"periphery† – but the role that each society plays is different from the classic imperialist relationship. The peripheral economy is marked by extreme dependence on external demand, or extroversion, as well as stunted and unequal rates of development within the society. Amin maintains that in order for these societies to break free of extroversion and develop, they must be actively removed from the peripheral capitalist relationship. He proposes nationalization and socialization as an alternative, a system which-when contrasted with peripheral capitalism-could not be a more different approach to economic development. Unfortunately for the developing nation s, socialism was largely unsuccessful as an economic experiment, consistently causing stagnation and underdevelopment in societies that attempted it. Peripheral capitalism evolves from colonial imperialism, an economic system in which the colonizing nation penetrates deep into the heart of the colonial economy in an effort to manipulate it towards the benefit of the mother country. Every aspect of the colonial economy is geared not towards the expansion of the colonial economy itself, but rather towards the production of something that the colonizing nation cannot produce itself. As a result, the success and the existence of a particular sector of the colonial economy is dependent upon whether or not the mother country has a need for that sector; colonial economies are rooted heavily in external demand. This extroversion leaves the colonial economy without an indigenous set of linkages, as economic sectors that will benefit from colonial activity function mostly within the economy of the colonizing nation. When autocentric, or internally-driven, economic growth is blocked in such a way that a peripheral economy emerges with the sa me sort of external dependence on the central economy that was suffered by the colonial economy. The peripheral economy is typically plagued by an unequal division of labor, or specialization, between itself and the central economy. While the latter enjoys the benefits and progress associated with industrialization, the periphery tends to remain predominantly agricultural. What little industry may exist in the peripheral economy is most often â€Å"light† industrial production of small, simple goods, as opposed to the â€Å"heavy† industrial production of machinery and complex products that characterizes the central economy. Additionally, Amin argues that there is often a â€Å"hypertrophy of the tertiary sector†(200) of the peripheral economy; too much of the economy is devoted to providing services, â€Å"expressed especially in the excessive growth of administrative expenditure†(201) effectively anchoring the society’s development due to a lack of productive advancement. Yet another malady of the peripheral economy is the reduced value of the local ‘multiplier effect’, another result of the remnants of economic infrastructure modification from the colonial period. If an economy is replete with linkage sectors, then any money put into the leading sector will generate a multiplied effect in all of the forward and backward linkages of that industry. Peripheral economies, however, are effectively stripped of linkages during their colonial phase of development hence spending in the peripheral economy ultimately benefits the central economy, where most of the peripheral industries’ linkages are realized. Not only is the local multiplier effect reduced in the peripheral economy, but Amin claims that it also leads to â€Å"the marked propensity to import†(201), and thus is in effect transferred to the central economy, where revenue is collected every time money is spent in the periphery. Because peripheral input ultimately goes abr oad, local businesses are not stimulated, as they would be if linkages were realized within the periphery, worsening the already-detrimental conditions of the peripheral economy. Adding to the lack of stimulation of local business is the fact that peripheral industries tend to be dominated by monopolies established from foreign capital. After the majority of revenue goes to the central economy through linkage industries, what little money remains in the local economy is often put into businesses controlled by central capitalists. In other words, almost every dollar put into the periphery ultimately finds its way to the central economy. In Unequal Development, Amin maintains that no economy can be expected to develop without successfully making the transition from extrovert to introvert so that it can â€Å"assert the dominance of the exporting sector over the economic structure as a whole†(203), and that no peripheral capitalist economy can independently heal the economic wounds inflicted by colonialism. Therefore, the only way to promote development in peripheral capitalist economies is to actively remove them from their disadvantageous relationship with the central economy, which, according to Amin, should be replaced by internal nationalization and socialization of the once-peripheral economy. The establishment of a nationalist socialist state would serve both to eliminate external dependence, as well as to reconcile the disarticulated nature of the local economy. The first critique of Ricardo’s theory made by Amin is its lack of specificity – claiming that his examples of trade between Portugal and England were very exclusive to intra-European trade and could not exactly be applied to relations between several different country relations around the World. If there is a large difference in GDP between two countries, then what statistics demonstrate is that the country with the smaller GDP would benefit more from this transaction, and this was â€Å"the source of special problems that dictate[d] development policies in the periphery that [were] different from those on which development of the West was based†(201); a factor that Ricardo hadn’t considered it in his theory. Another vital yet neglected consideration was the importance of the commodity in terms of a nations’ GDP: wine was a big section of the Portuguese GDP, greater than it was for England, so the trade benefited the Portuguese to a greater extent than it did to the British. He elaborates upon this idea by explaining how the relation between central and periphery assumes the mobility of capital, since the centre is investing greatly in the periphery. What the periphery chooses to specialize in is to a large extent determined by the centre, since very often the selection comes after it has been forced to serve the imperial country. As he clearly states, this type of trade â€Å"compels the periphery to confine itself to the role of complementary supplier of products for the production of which it possesses a natural advantage: exotic agricultural produce and minerals†(200). The result is a decrease in the level of wages in the periphery for the same level of productivity than at the centre, hence limiting the development of industries focused on the home market of the periphery. The disarticulation due to the adjustment of the orientation of production in the periphery to the needs of the centre prevents the transmission of the benefits of economic progress from the poles of development to the economy as a whole. Overall, this is what Amin defines by ‘unequal specialization’, which in turn violates the conditions of Ricardo’s theory. Another argument that Amin makes involved the Keynesian multiplier effect. He claims that this effect does not take place to the situation at the centre because of its advantaged stage of monopoly, characterized by difficulties in producing surplus. Due to this unequal specialization as well as the significant propensity to import that follows, the effect is a transferring of multip lier effect mechanisms and the accelerator theorem from the periphery to the centre. Furthermore, Amin includes the social aspect of this process, which is a result of the individual history of each nation and the power imbalance created. Amin finds that the nature of the pre-capitalist formations that took place previously and the epoch in which they became integrated in the capitalist system are both very important factors in determining the presence or lack of development to come. He also draws a line between two different terms, ‘peripheral formations’ and ‘young central formations’, whereby the latter, based on the predominance of a simple commodity mode of production, are capable of independently evolving towards a fully developed capitalist mode of production. Amin terminates by asserting â€Å"the domination by central capital over the system as a whole, and the vital mechanisms of primitive accumulation for its benefit which express this domination, subject the development of peripheral national capitalism to strict limitationsâ₠¬ (202). These countries would hence not gain equal benefits under this trade, only if the patterns of specialization were undertaken in more ideal conditions, conditions that approximated Ricardo’s theory more closely. Rather than being a positive force for development, this type of trade becomes a force created under development. It will contribute to development in the centre, and underdevelopment in the periphery. He concludes that this inevitably hinders the development of peripheral nations: â€Å"the impossibility, whatever the level of production per head that may be obtained, of going over to auto centric and auto dynamic growth†(202).

Saturday, November 9, 2019

Innovation in Cosmetic Industry

ABSTRACT : Innovation is one of the most important issues in business research today. It has been studied in many independent research traditions. Our understanding and study of innovation can benefit from an integrative review of these research traditions. In so doing, various topics of consideration have been identified and studied. Consumer response to innovation, Organizations and innovation, which are increasingly important as product development becomes more complex and tools more effective but demanding; techniques for product development processes, which have been transformed through global pressures, increasingly accurate customer input. Innovation is the core business competency of the 21st century. In order to not only compete and grow but to survive in a global economy, businesses must innovate. To date innovation has been approached in a piecemeal fashion often linked solely to the New Product Development (NPD) process. There has been a remarkable increase in R&D investment by industries at global level over a number of years. The area of R&D in industry with the highest rate of growth over the past six years has been in directed basic research. Innovation and the effective management of technology have become a top priority for nations as well as companies, to stimulate economic development and strengthen their competitiveness. Allocation of R&D for the development of new businesses is seen as a key growth strategy by firms in most parts of the world. New products are engines to growth and prosperity for all companies in the manufacturing sector or the service sector. In this article, an attempt has been made to explore the drivers of new product performance, with a particular focus on cosmetic industry. P&G is considered to be one of the companies dealing with cosmetics with the best innovation strategies, and hence it has been taken as an example for the study. The Innovation Diamond is introduced by P&G as an integrative and guiding framework to help management focus on what’s important to success: innovation strategy, a solid idea-to-launch process, portfolio management and the right climate and leadership. (Keywords : Innovation, R&D, Cosmetic industry, P&G, success, Product Development. ) INTRODUCTION : Innovation, the process of bringing new products and services to market, is one of the most important issues in business research today. Innovation is responsible for raising the quality and lowering the prices of products and services that have dramatically improved consumers’ lives. By finding new solutions to problems, innovation destroys existing markets, transforms old ones, or creates new ones. It can bring down giant incumbents while propelling small outsiders into dominant positions. Without innovation, incumbents slowly lose both sales and profitability as competitors innovate past them. Innovation provides an important basis by which world economies compete in the global marketplace. Innovation is a broad topic, and a variety of disciplines address various aspects of innovation, including marketing, quality management, operations management, technology management, organizational behaviour, product development, strategic management, and economics. Research on innovation has proceeded in many academic fields with incomplete links across those fields. For example, research on market pioneering typically does not connect with that on diffusion of innovations or the creative design of new products. Overall, marketing is well positioned to participate in the understanding and management of innovation within firms and markets, because a primary goal of innovation is to develop new or modified products for enhanced profitability. A necessary component of profitability is revenue, and revenue depends on satisfying customer needs better (or more efficiently) than competitors can satisfy those needs. Research in marketing is intrinsically customer and competitor focused, and thus well situated to study how a firm might better guide innovation to meet its profitability goals successfully. To encourage and facilitate further research on innovation in marketing, we seek to collect, explore, and evaluate research on innovation. Key goals of this paper will be to provide a structure for thinking about innovation across the fields, highlight important streams of research on innovation, suggest interrelationships, and provide taxonomy of related topics. Successful innovation rests on first understanding customer needs and then developing products that meet those needs. Our review of the literature, therefore, starts with our understanding of customers and their response to and acceptance of innovation. Because we are interested in how firms profit from innovation, the article will then review organizational issues associated with successfully innovating and with how organizations adopt innovations. Customer understanding and the organizational context are underpinnings to innovating successfully. They must be in place before proceeding. Then the flow of innovation will be discussed. SUCCESS FACTORS IN AN ORGANISATION: Success factors for an organisation predominantly identified in the research papers are : †¢ Product innovation †¢ R&D investment †¢ Leadership commitment, Clear understanding of the company’s capabilities, †¢ Strong connection to the customer and a deep understanding of major customer problems, †¢ Willingness to take big but well-understood risks. PRODUCT DEVELOPMENT : Once consumer needs are understood and organizations for innovating and strategies are in place, then begins the execution part of innovation—moving from having a strategy to conceiving a concept to delivering against that strategy, to designing the final product and its manufacturing process, to finally having a (hopefully successful) commercial product. This section examines research that has sought to improve this process of product development (PD), which is predominantly prescriptive in nature. We begin with a brief review of product development processes, then will discuss about the research applicable to each of various stages of product development. PRODUCT DEVELOPMENT PROCESSES : The emerging view in industry is of product development as an end-to-end process that draws on marketing, engineering, manufacturing, and organizational development. The core of this process is the product development funnel of opportunity identification, design and engineering, testing, and launch. Previous researches recognizes that, for a single successful product launch, failures will be many, although some may be recycled, reworked, and improved to become successful products. Even when a product has been in the marketplace, innovation continues as the firm continually searches for new opportunities and ideas. Researches also recognize the current hypothesis that firms are most successful if they have multiple product concepts in the pipeline at any given time, forming a portfolio of projects. These projects might relate to independent products but increasingly are based on coordinated platforms to take advantage of common components and/or economies of scope. Risk is inherent in product development; few of the many concepts in a portfolio are likely to be successful. Information to evaluate alternative concepts is often imperfect, difficult to obtain, and hard to integrate into the organization. For each success, the process begins with 6 to 10 concepts that are evaluated and either rejected or improved as they move from opportunity identification to launch. RESEARCH CHALLENGES : PD processes are only as good as the people who use them. Structured processes force evaluation, but evaluation imposes both monetary and time costs. Teams can be tempted to skip evaluations or, worse, justify advancement with faulty or incomplete data. There are substantial research opportunities to understand the optimal trade-offs among evaluation costs, the motivations of teams for accuracy, and the motivations of teams for career advancement. For example, advancing a concept to the next stage in either a sequential or spiral process requires a hand-off. New team members must have sufficient data to accept the hand-off. In some instances, the old team members are now required to look for new projects—a disincentive to advancing a concept through the gate. Marketing, with its tradition of research on people, whether they are customers or product developers, have many research streams that can inform and advance the theory and practice of PD processes. Despite this, we have seen little formal investigation of the link between marketing capabilities and PD processes. The most critical research challenges in this area include, Improving the effectiveness of non sequential PD processes; Understanding which process is best in which situations; Understanding when it is appropriate to modify processes; Linking marketing capabilities and PD processes; Understanding the explicit and implicit rewards and incentives that encourage PD teams to either abide by or circumvent formal processes. Both market orientation and innovation have been identified as crucial success factors in companies. A positive impact of market orientation and innovation on company performance has been found in many industries and under a wide range of market characteristics. Research on market orientation is focused in particular on large companies. However, market orientation is expected to be important for small companies as well as large companies. Research in this field for small firms is relevant because small companies are widely represented in important industries like retailing, services and agriculture. Research has shown the importance of market orientation for the success of product innovations. A market orientation may stimulate innovations and increase the performance of innovations. In this paper we will focus on innovations in small independent companies that do not have the capacity for R&D as opposed to innovations in medium sized and large companies. Various models about the relationship between market orientation and innovation have been proposed examined the impact of market orientation on innovation characteristics using measure for market orientation. Many studies that focus on factors discriminating between successful and unsuccessful innovations conclude that market orientation is one of the main contributing factors to innovation success. INNOVATION Innovation is the creation of better or more effective products, processes, services, technologies, or ideas that are accepted by markets, governments, and society. Innovation differs from invention in that innovation refers to the use of a new idea or method, whereas invention refers more directly to the creation of the idea or method itself. The word innovation derives from the Latin word innovatus, which is the noun form of innovare â€Å"to renew or change,† stemming from in—†into† + novus—†new†. Diffusion of innovation research was first started in 1903 by seminal researcher Gabriel Tarde, who first plotted the S-shaped diffusion curve. Tarde (1903) defined the innovation-decision process as a series of steps that includes: First knowledge, Forming an attitude, A decision to adopt or reject, Implementation and use, Confirmation of the decision, Innovation. Innovation is the process by which an idea or invention is translated into a good or service for which people will pay, or something that results from this process. To be called an innovation, an idea must be replicable at an economical cost and must satisfy a specific need. Innovation involves deliberate application of information, imagination, and initiative in deriving greater or different value from resources, and encompasses all processes by which new ideas are generated and converted into useful products. In business, innovation often results from the application of a scientific or technical idea in decreasing the gap between the needs or expectations of the customers and the performance of a company's products. In a social context, innovation is equally important in devising new collaborative methods such as alliance creation, joint venturing, flexible working hours, and in creating buyers' purchasing power through methods such as layaway plans. INNOVATIONS ARE DIVIDED INTO TWO BROAD CATEGORIES: (1) Evolutionary innovations are brought about by numerous incremental advances in technology or processes and are of two types a) Continuous evolutionary innovations result in an alteration in product characteristics instead of in a new product, and do not require any user-learning or changes in his or her routine. Examples are the multiblade shaving razor, fluoride toothpaste, and laptop computers. (b) Dynamic continuous evolutionary innovations require some user-learning but do not disrupt s his or her routine. Examples are fax machines, instant photography, and handheld computers. (2) Revolutionary innovations (also called discontinuous innovations) require a good deal of user-learning, often disrupt his or her routine, and may even require new behaviour patterns. Examples are photocopier (xerography) machines, personal computers, and the Internet. Innovation is synonymous with risk-taking and organizations that introduce revolutionary products or technologies take on the greatest risk because they have to create new markets. A less risky innovation strategy is that of the imitator who starts with a new product (usually created by a revolutionary-innovator) having a large and growing demand. The imitator then proceeds to satisfy that demand better with a more effective approach. Examples are IBM with its PC against Apple Computer, Compaq with its cheaper PCs against IBM, and Dell with its still-cheaper clones (sold directly to the customer) against Compaq. Although many innovations are created from inventions, it is possible to innovate without inventing, and to invent without innovating. NECESSITY FOR INNOVATION â€Å"Innovation will be the necessity for social and economical growth of the nation in future. We live and die through relative innovation. The world has changed because of innovation only. Science is responsible for all the innovations we feel around,† remarked Srinivasan K. Swamy, President, All India Management Association (AIMA), New Delhi A light bulb overhead may signal a bright idea in cartoons and comic books, but in today's business world companies can't sit around waiting for creative bolts of inspiration. Long-lasting success requires a process of innovation that is predictable and consistent. Today innovation is necessary to survive. The global market has become so competitive that innovation is now as valuable an investment as sales and marketing. Markets are becoming more global, not less, so the value of innovation will continue to increase. Here's why: a) The best ideas and technologies spread rapidly around the world now. A company with a new product may make a one-time splash, but before long everyone else will have adopted it. A consistent, predictable innovation process enables companies to overcome this. b) Brands aren't as powerful as they used to be. Experience is now more important than brand name as the basis for a person's purchasing decision. The Internet allows people to share experiences about a company with millions of others. People now choose the products that give them the highest value, not just the best-known brands. Relying on a strong brand name is no longer enough. Consistent, predictable innovation is the answer. The Society of Management Accountants calls â€Å"innovation†¦fundamental to the quest for profitable, sustainable growth. †3 Peter Drucker, probably the most insightful management guru ever, deems it the one business competence needed for the future. Fortune magazine’s advice to companies who want to be named to its Most Admired List? Innovate, innovate, innovate. Innovation currently accounts for more than half of all growth. And it is enormously profitable. A study done on the rate of return for 17 successful innovations showed a mean return of 56% compared with an average ROI of 16%. Companies are catching on to this sea change. In an Ernst & Young study, European and North American companies called innovation the most important criterion for success in the future. Even technology firms who presumably are leading this charge consider â€Å"making innovation happen† the industry’s single biggest problem. COSMETIC INDUSTRY Indian cosmetics industry has witnessed strong growth during the past few years and has emerged as one of the industries holding immense future growth potential. The cosmetics industry registered impressive sales worth Rs 288. 7 Billion (US$ 5. 8 Billion) in 2010. The sector has mainly been driven by improving purchasing power and rising fashion consciousness of the Indian population. Moreover, the industry players are readily spending on the promotional activities to increase consumer awareness. According to our new research report â€Å"Indian Cosmetic Sector Analysis (2009-2012)†, Indian cosmetics sector is expected to witness noteworthy growth rate in near future, owing to the rising beauty concerns of both men and women. The industry holds promising growth prospects for both existing and new players. The baseline for the optimistic future outlook of the Indian cosmetics industry is that, there has been a rise in variety of products offered by the industry players. Moreover, the companies have started opting for online retailing and are offering specialized products to generate revenue from all the corners. Rising usage of Cosmeceuticals and Nutricosmetics by the Indian consumers will also pave way for the Indian cosmetics market during the forecast period. Our research report incorporates an innovation of the cosmetics industry in India. It provides segment level analysis of the industry along with the emerging trends and innovation that happened in the previous years. INNOVATION IN COSMETIC INDUSTRY The cosmetics industry is a lucrative, innovative, and fast-paced industry. It is also a key market segment in the retail industry. In it they highlight the following products as examples of what cosmetic companies are doing to create â€Å"innovative† products. 1. Soap from a lingerie company 2. Men’s cologne in a bottle shaped like a #1 3. Nanotechnology skin care cream 4. 3D anti-ageing skin mask. The only product that could have some technological innovation is the one based on nanotechnology. Unfortunately, there are no claims given and you could easily make the product by creating a standard skin lotion with added, non-functional nanotechnology. If cosmetic companies really wanted to set their products apart from the competition, they need to create formulas that solve consumer problems in some superior way. Consumers don’t care about how their products work (say nanotechnology), they care about the end results. The major sections of cosmetics in this industry are : sun care, skin care, hair care, body care and perfumes and decorative cosmetics. SUN CARE The World Health Organisation (WHO) recommends regular sun screen use to help protect skin against UV radiation†¢ Significant industry investment has helped develop increasingly effective and appealing sunscreens that – Offer broad UV (both UVA and UVB) protection – Contain a combination of nano-sized mineraln (e. g. titanium dioxide) and organic UV filters to offer high levels of protection – Have applications that suit all lifestyles and consumer needs SKIN CARE : Skin maintenance is important because skin is the largest organ in the body, serving as a vital defence barrier. This also makes it particularly vulnerable to damage . Regular cleansing and caring improves hygiene, prevents pores from becoming clogged, removes dead skin cells and protects against external elements Dermatological research continually leads to more effective and gentle applications that address different skin types such as dry or aged skin. †¢ Dec 30, 2011 – Euromonitor Reports Growth in Skin Care Market in Africa & the Middle East Between 2005 & 2010. As new opportunities for skin care in key developed markets slowly dry up, much stronger growth forecasts for the category in many markets in Africa †¢ Dec 28, 2011 – R Highlight – Angle-dependent Interference Pigments Multilayer pigments alternately coated with layers having high and low refractive index are known in the art. The optical effect of the pigments †¢ Dec 14, 2011 – Editorial – Future-Touch Translates Future Trends into Innovation †¢ Dec 14, 2011 – Article – UK spa company Elemis has established itself as a leading professional spa company as well as a strong contender in the retail cosmetics market. HAIR CARE : Products: Shampoos, conditioners, hair colourants, texturisers, serums, hair sprays, growth stimulators, anti-dandruff shampoos, lotions. Improved personal hygiene via treatment of dandruff, itchy scalp, greasiness Enables self-expression, helping consumers have confidence in their appearance and greater self-esteem Meeting specific consumer needs such as controlling fly-away hair, taming unruly hair with relaxants, adding texture to limp hair, repairing damaged hair and restoring colour to aged hair BODY CARE : Products: Soaps, antiperspirants, deodorants, body washes, shower gels, body lotions, scrubs, oils. Benefits: Soap represents a significant historical public health advance, helping break down grease and dirt Antiperspirants and deodorants enhance comfort and hygiene by helping avoid excessive perspiration and resulting body odour Non-soap detergent bars enable mild cleansing for consumers with skin conditions (eczema, rosacea, mild atopic dermatitis, etc. ) PERFUME : Products: Perfumes, colognes, salves, scented oils Benefits: Fragrances play a significant role in enhancing personal well-being Aromatherapy research reveals that smells influence our emotions, inspire creativity and are the fastest memory triggers The sense of smell is proven to be an important factor in the process through which we form relationships. DECORATIVE COSMETICS : Products: Foundations, blushes, powders, eye Benefits : Make-up enables self-expression, helping consumers have confidence in their appearance and greater selfesteem Clinical research confirms that the ability to take care of your appearance during illness increases confidence and can aid the healing process Science is at the heart of every cosmetic product. R programmes generate new patents every year and in 2009, over 2600 (an estimated 10% of all patents granted in the EU) were awarded to the cosmetics industry. Scientists from a wide range of disciplines such as physics, microbiology, biology, toxicology, rheology, analytical chemistry and genetics apply their skills in the European cosmetics industry. In total, the European cosmetics industry employs approximately 17,000 scientists. R programmes investigate consumer behaviour and beauty aspirations, the biology of skin and hair, new innovative technologies and sustainable development; this helps to select the best ingredients which are the most respectful of human health and the environment, and to create new formulations which respond to both expectations and challenges Innovation is vital for the European cosmetics and personal care products industry. It can take over 5 years of innovative research and formulation to bring a new product to the market Every year, a quarter of all cosmetic products on the market are improved or are completely new. Europe is the flagship producer and mass consumer market of cosmetics and personal care products in the world. Ongoing changes in the environment and in consumer lifestyles require new innovations that meet increasing needs, such as caring for and protecting skin from sun and weather damage SUSTAINABILITY The cosmetics industry is committed to sustainability and aims to: Reduce the environmental impact of the sector and its supply chain, from ingredient sourcing through to packaging. Ensure a balance between the economic, environmental and social pillars of sustainability WHY INNOVATION IS REQUIRED IN COSMETIC INDUSTRY : Cosmetic products are important consumer products with an essential role in everyone's life: apart from â€Å"traditional† cosmetic products, such as make-up and perfumes, it also includes products for personal hygiene, for example tooth-care products, shampoos and soaps. Today's cosmetic market is driven by innovation including new colour pallets, treatments targeted to specific skin types and unique formulas concentrating on different needs. Most cosmetics products have a lifespan of less than five years and manufacturers reformulate 25% of their products every year. They need to improve products constantly in order to stay ahead in a highly competitive market where more choice and ever greater efficacy are expected by the consumer. The European cosmetics industry is a world leader and dominant cosmetics exporter, a highly innovative sector and a significant employer in Europe. The EU's involvement concerns mainly the regulatory framework for market access, international trade relations and regulatory convergence, all aiming to ensure the highest level of consumer safety while promoting the innovation and the competitiveness of this sector. Innovation is important for any business but for cosmetic industry it is a necessity. Recently Several hundreds of key representatives from the European cosmetics industry have gathered in Brussels to discuss the importance of industry on the European economy and how it can build for a sustainable future. Discussion at the General Assembly focused on â€Å"Science, Beauty and Care : Innovating for a Sustainable Future†. Fabio Franchina, President of Colipa mentioned â€Å"Today’s cosmetic industry, is more dynamic and innovative than ever, and we are committed to ensuring that we contribute fully to a truly sustainable uture. † He also mentioned that â€Å"innovation is the life-blood of the cosmetic industry† This product innovation strategy guides the business’s New Product Development direction and helps to steer resource allocation and project selection. In the mid-1990s, P&G’s Cosmetics business lacked a business and product innovation s trategy, the result being that Product Development efforts were scattered; many different initiatives were launched in many different product categories and segments in a futile attempt to win. There was no focus. The first element was a product innovation strategy. Indeed, the real breakthrough occurred in the Cosmetics business turnaround when the business leadership team began a rigorous business planning process leading to clearly defined objectives, goals, strategies, and measures. A much more concentrated innovation strategy was elected, focusing on lips, face and eyes, rather than the entire body. Next important facet of strategy meant getting the supply chain under control: end-to-end supply network management. Management streamlined the supply network so that production and shipments were tied to market demand. As a result, they were able to reduce the time in the supply network, thereby eliminating much of the product obsolescence generated with each new product launch. By focusing first on an innovation strategy for the business, the stage was set for effective Product Development. The message is that if your business lacks a product innovation and technology strategy, you are missing a key element of successful product innovation. This strategy should include the goals for the business’s product innovation effort and how these goals tie into the broader business goals. This strategy is more than just a list of this year’s development projects. It has a much longer-term commitment. The innovation strategy also includes defining strategic arenas or areas of focus, much like the Cosmetics business did. That is, you need to define the product, market, and technology areas in which the business will focus its Product Development efforts. The key here is focus. Innovation is important on different levels and is also important for different reasons. Innovation is an important driver of Economic growth and improvement. For Cosmetic Industry it is for – †¢ Survival Growth †¢ Shareholder return Individual perspective every industry constantly needs to innovate. Industry changes their route to work to become more efficient. They change how they do something (process innovation). They train to broaden their skills (to gain competitive advantage). Virtually all of the economic growth that has occurred since the eighteenth century is ulti mately attributable to innovation. The Economist Intelligence Unit undertook a survey in 2007 which noted that â€Å"long–? run economic growth depends on the creation and fostering of an environment that encourages innovation. Innovation is considered an important driver of long-term productivity and economic growth. Innovation is required to raise productivity, meet the challenges of globalization and to live within our environmental and Demographic limits. Some major reasons for innovation are : ? To survive adverse changes in operating circumstances; ? To make life easier for the customers; ? To gain competitive advantages; ? To protect market share; ? To reposition an organization and raise its profile ? To lead the market and reinforce a reputation as market leader ? To open new horizons so as to get out of a rut or avenues with limited potential ? To attract extra funding ? To raise margins and profitability ? To drive total shareholder returns. FACTORS FOR DEVELOPING AN R&D COSMETIC STRATEGY In this week’s cosmetics and skin care industry post, the New logic portfolio team write about six factors to consider when developing your R&D cosmetics strategy. To research the post we reviewed our cosmetics posts over the last few months, and conducted ancillary research. 1. The Combination of Groundbreaking Formula and User-friendly Packaging In the cosmetics and personal care industry, breakthrough innovations on formulas and packaging are still keys to success as they directly relate to product performance. Cosmetic and skin care chemists search for the ingredients and technology to advance product efficacy, while they also contribute to design innovative package that improve product applications. This is obvious, but it’s the formula, delivery systems and packaging that make all the difference when it comes to developing innovative cosmetics projects. Your R&D cosmetics strategy has to consider what these fundamentals. . Concentrated Product Development A successful cosmetics R&D strategy is efficient in solving two problems: shorten product development times and improve innovation initiatives. In the cosmetics and personal care industry, the diversity of product lines (face, body, lips, and eyes) creates a barrier that prevents the easy innovation across all categories. Experienced leaders use R&D project portf olio optimization to pinpoint innovation projects that align with current resources and leverage the development of existing expertise in a technology. The Maybeline â€Å"Great Lash† Mascara collection has a history of 40 years, during which period its product profile has continued to expand. Maybelline has focused on enhancing the â€Å"Great Lash† product line through conducting consumer insight research, selecting pilot productions and adjusting the R&D process. 3. Consumer-oriented Strategy Any R&D innovations begin with the goal to improve consumer experience. R&D leaders conduct market research to discover problems and collect consumer insights, which if executed correctly can turn into   new treatment solutions and product upgrades. As increasing numbers of cosmetics companies expand worldwide, consumer-oriented strategy also includes outsourcing or moving R&D centers overseas to enhance local R&D capability. For example, L’Oreal China has improved its shampoo formula in order to cater to Asian hair care needs. Overseas R&D centers help facilitate regional research and local talent recruitment. It may also benefit the R&D process in the host country as such outsourcing enables the exploitation of local technology and resources for company-wide projects. 4. The Challenge of Product Diversification While expanding a brand’s product profile is more of a business strategy, cosmetics and skin care R&D departments need a comprehensive technology development strategy to help anticipate risks and structure conceptualization. For example, when a successful skin care company is trying to launch cosmetics lines, the company needs to decide which products to start developing pilot engineering programs. A product development plan that’s been optimized for project selection can allow a company to lay a solid foundation and avoid failures at different stages by understanding what’s possible from the projects to select and implement. . Mergers and Acquisitions Mergers and acquisitions allow merged companies to realize the optimal allocation of R&D resources, such as facilities and capital investments. In this way, R&D departments have the chance to share information and develop better products. In the cosmetics and personal care industry, company mergers and acquisitions may not necessarily lead to the merger of R&D departments. However, a well-established parent company can provide its brands with R&D guidelines that improve innovation capabilities and optimize the product development process. 6. Cross-Industry Development Another future R&D trend are cross-industry solutions, where tighter partnerships with other industries as well as the knowledge of other sciences, such as food and biochemistry enhance R&D knowledge. For example, nutricosmetics was first developed by the Swedish biochemist and scientist Ake Dahlgren, who later founded the first nutricosmetic company Imedeen in the late 1980s. In recent years, L’Oreal and Shiseido have started R&D projects in nutricosmetics, applying what was originally developed from pure science to personal care products. P&G AND INNOVATION Let us now take an example of a leading company P&G and how they improved in cosmetic industry with its Innovation. P&G’s cosmetics business is a case in point where a dramatic turnaround was achieved via a disciplined, holistic approach to new product management. The story begins when P&G acquired the Cover Girl and Clarion cosmetics brands in 1989. Two years later Max Factor was acquired. P&G then applied its tried-and-true approach of leveraging scale and an innovation strategy with a few, big new products. But there was no real business strategy, and efforts were scattered and unfocused. And so, by 1994, management was forced to retreat and retrench. They dropped the Clarion line; and through much of the 90s, senior management at P&G wondered if they should be in the cosmetics business at all! A new line, under the Oil of Olay banner, was attempted but failed, and the entire cosmetics business continued to decline. The turnaround of P&G’s Cosmetics business started in the late 90s when business unit management turned to P&G’s Initiatives, Diamond philosophy. Today, P&G’s Cosmetics business is a healthy, growing, and profitable enterprise. Performance results have significantly improved since the late 90s, and the business is seen as a key growth contributor for P&G. The major factors that drive a business’s new project performance, illustrated in the Innovation Diamond are: Having a product innovation and technology strategy in place for the business; Having an effective and efficient ideato- launch process; Resource commitment, which focuses on the right projects— portfolio management; and People; that is, having the right climate and culture, effective cross-functional teams, and senior management commitment to New Product Development. aha† was that there is no one key to success in product innovation, and thus management stepped back from a focus on individual initiatives and looked at the broader picture. For example, having a great idea-to-launch process is not sufficient; it’s not a stand alone driver of positive performance. P&G’s Initiatives Diamond serves as a guide for each business’s product innovation effort, and helps to focus management’s attention on what is important to success. According to Bob McDonald, P&G’s Vice Chairman of Global Operations, â€Å"The Initiative Diamond played a significant role in improving the business results in P&G’s Household Care global business unit. This work brought us a new discipline to manage our innovation programs and yielded a major increase in the in-market success of our initiatives. They aligned their organization on how to use Stage-Gate ® success criteria, and portfolio and resource management to deliver better innovations for the consumers they serve. [pic] [pic] The top half of P&G’s diamond in Exhibit 2 is strategic in nature, and captures the business’s product innovation strategy: goals, the mix of new products required to meet those goals, and the required resources. Portfolio management (or project selection) is thus closely connected to strategy. The bottom half of the diamond is more operational and focuses on delivering specific new product projects or initiatives: what resources must be put in place for each project; and how individual new product projects are managed so they succeed, using P&G’s idea-to-launch SIMPLâ„ ¢ methodology. Coincidentally, the two diamonds—P&G’s Initiatives Diamond in Exhibit 2 on this page and the research-based Innovation Diamond in Exhibit 1—are almost the same. Each one or both can be used to guide your business’s new product efforts. Here is a quick look at the four drivers of performance and how they work at P&G. Driver #1—A product innovation and technology strategy for the business Best performing businesses put a product innovation and technology strategy in place, driven by the business leadership team and a strategic vision of the business. This product innovation strategy guides the business’s New Product Development direction and helps to steer resource allocation and project selection. In the mid-1990s, P&G’s Cosmetics business lacked a business and product innovation strategy, the result being that Product Development efforts were scattered; many different initiatives were launched in many different product categories and segments in a futile attempt to win. There was no focus. The first element of the diamond is a product innovation strategy. Indeed, the real breakthrough occurred in the Cosmetics business turnaround when the business leadership team began a rigorous business planning process leading to clearly defined objectives, goals, strategies, and measures. A much more concentrated innovation strategy was elected, focusing on lips, face and eyes, rather than the entire body. A second facet of strategy meant getting the supply chain under control: end-to-end supply network management. Management streamlined the supply network so that production and shipments were tied to market demand. As a result, they were able to reduce the time in the supply network, thereby eliminating much of the product obsolescence generated with each new product launch. By focusing first on an innovation strategy for the business, the stage was set for effective Product Development. The message is that if your business lacks a product innovation and technology strategy, you are missing a key element of successful product innovation. This strategy should include the goals for the business’s product innovation effort and how these goals tie into the broader business goals. This strategy is more than just a list of this year’s development projects. It has a much longer-term commitment. The innovation strategy also includes defining strategic arenas or areas of focus, much like the Cosmetics business did. That is, you need to define the product, market, and technology areas in which the business will focus its Product Development efforts. The key here is focus. Driver #2—An effective and efficient idea to- launch system Studies show that an effective new product process, such as Stage-Gate ®, exists in top performing businesses, a system that drives new product projects from the idea phase through to launch and beyond. In P&G’s Cosmetics business, developing an innovation strategy was a solid first step, but the means of implementing strategy must be in place too. So management turned to a second element of the diamond, namely P&G’s SIMPLâ„ ¢Ã¢â‚¬â€the Successful Initiative Management and Product Launch model. SIMPLâ„ ¢ is a stage-and-gate new product process, a methodology for driving new product p rojects from the idea phase through to launch and into post-launch The SIMPLâ„ ¢ model forced project teams to do their homework early in the project. For example, much consumer research work was undertaken, and consumer insights gained led to winning new product concepts. One big success is Outlastâ„ ¢ by Cover- Girl. This ten-hour lipstick—a kiss-proof, long-lasting lipstick—uses a unique two-part application system (first a color and then a gloss) to produce an enduring lip color and gloss. A second winner—Lipfinityâ„ ¢ by Max Factor—was also introduced, again using the SIMPLâ„ ¢ model. Both new products have been huge successes not only in the U. S. , but around the world. The turnaround of the cosmetics business was underway! Most companies claim to have a new product process or stage-and-gate system in place, according to a recent PDMA study. 7 Further investigation reveals, however, that most firms’ processes are deficient. They are poorly designed, they miss the mark when it comes to best practices, and they are badly implemented. 2,3 P&G is an exception. Their idea-to-launch process, SIMPLâ„ ¢, is a rigorous process that uses stage-and-gate decision-making complete with clear go/kill criteria and timing requirements. The SIMPLâ„ ¢ model, shown in Exhibit 3, consists of four main stages, with each stage building in a set of current best practices in the form of key activities, and also clearly defined expectations for project team in the form of end-points. There are also four gates or go/kill decision-points in the model; each gate is comprised of a team recommendation and a management decision. The SIMPLâ„ ¢ Model P&G’s approach is different from that of most firms’, however. Instead of focusing on the process per se (like so many companies do), management stepped back and identified the basic principles that the model is founded on. These principles are constants across many and varied businesses and geographies. But the constancy of these principles has helped the company adapt the model to many different types of businesses and different types of projects leading to a standardized and globally applied Stage-Gate ® process. The principles which underlie the SIMPLâ„ ¢ model are shown in the box on this page and explained here in more detail: Winning in the marketplace is the goal. In many firms, too much emphasis is on getting through the process; that is, getting one’s project approved or preparing deliverables for the next gate. In the past, P&G was no different. By contrast, this principle emphasizes winning in the marketplace as the goal, not merely going through the process. Specific success criteria for each project are defined and agreed to by the project team and management at the gates; these success criteria are then used to evaluate the project at the post-launch review. And the project team is held accountable for achieving results when measured against these success criteria. (By contrast, the great majority of businesses still do not conduct post-launch reviews on projects; and even fewer hold their project teams accountable for achieving agreed-to project results). Use criteria for making Go/Kill decisions. Specific success criteria for each gate relevant to that stage are defined for each project. Examples include: expected profitability, launch date, expected sales, and even interim metrics, such as test results expected in a subsequent stage. These criteria, and targets to be achieved in them, are agreed to by the project team and management at each gate. These success criteria are then used to evaluate the project at successive gates. Risk and rigor must be balanced. Project teams employ appropriate e rigor in learning, planning, and decision- making in order to mitigate risk. They build in a strong consumer focus and rely heavily on voice of customer research; they front end-load their projects, undertaking appropriate, often extensive up-front homework prior to development; and they focus on developing differentiated, superior products that meet customer needs better than competitors. Note that SIMPLâ„ ¢ is also scalable and is tailored for specific projects based on level of risk and size of investment. Not every project requires the same degree of rigor, front-end work, and market research. Use a common language. Throughout the 1990s, each P&G business unit had developed its own version of a stage-and-gate new product process. Integration, cooperation, and measurement across businesses thus proved difficult with each business using a different system and different terminology. A GLOBAL PROCESS The current SIMPLâ„ ¢ process is a corporate global process—the same stages, gates, principles and measures—and is universal across geographies and business units. Each business, however, is free to adjust and adapt the process to suit its own business requirements. SIMPLâ„ ¢ is not stand alone. The idea to- launch process is only one ingredient of successful innovation, a single element of a much larger whole, the Diamond. Individual projects cannot be managed independently of other projects, their priorities, resource constraints, and changing business conditions. Thus the Diamond represents the relationship between these elements: innovation strategy,resource planning, project selection, and the SIMPLâ„ ¢ new product process SIMPLâ„ ¢ Driver #3—Resource commitment, focusing on the right projects and portfolio management In P&G’s Cosmetics business, portfolio management, a third element of the Initiatives Diamond, was next employed to enable management to look at its entire portfolio of new product initiatives, and secure the right balance and mix. Through portfolio management, the business built a pipeline of new and improved products that established the needed initiative rhythm for each product line (face, lips, eyes). New products and upgrades in each product line created news and excitement in the market. This â€Å"launch and sustain† portfolio approach was a key part of winning in the marketplace. Best performers like P&G have an efficient portfolio management system that helps the business leadership team effectively allocate resources to the right areas and projects. P&G splits this resource commitment facet of the diamond into two parts: project selection and resource planning. The company relies primarily on success criteria as part of the SIMPLâ„ ¢ process to help make better go/kill decisions on projects, as noted above. In addition, a number of P&G businesses have developed screening tools using scorecard methods for early decisions and for the selection of ideas to enter the SIMPLâ„ ¢ process. When it comes to resource planning for projects in the portfolio, P&G’s methods vary depending on the nature of the business. Many P&G businesses utilize a resource profiling approach to resource planning. The resource profiling method helps to assess future project resource needs based on learning from past projects, and it anticipates peak resource periods of time. This approach enables businesses, such as Fabric Care, to improve the overall portfolio decision process by allocating scarce resources to the highest priority projects globally. The most technically complex, resource-intensive businesses use purchased resource management software. These software tools look at people available versus requirements for specific tasks on individual projects to focus on near-term resource constraints. P&G’s deliberate approach to portfolio management and resource planning (the resource facet of the diamond) has had a strong positive impact, according to Martin Riant, President of P&G Global Baby and Adult Care and formerly President of P&G’s Global Feminine Care and Antiperspirants/ Deodorants business. Using the diamond has had a remarkable effect on our business results. It has forced a much higher level of discipline in how we allocate our resources, how and when we make investment decisions and in accountability of projects to deliver what they promise,† he says. Driver #4—A positive climate and environment for innovation People, culture, and leadership make up the fourth driver of performance of th e diamond (Exhibit 1). First, senior management must lead the innovation effort and be strongly committed to New Product Development. This senior commitment is most evident at P&G where Chairman, President, and Chief Executive A. G.. Lafley, makes it clear, â€Å"Innovation is a prerequisite for sustained growth. No other path to profitable growth can be sustained over time. Without continual innovation, markets stagnate, products become commodities, and margins shrink,† he explains. A positive climate and culture for innovation and entrepreneurship, combined with effective cross-functional teams backed by strong management support and empowerment are fundamental to success. P&G has focused much effort here in recent years, which has helped it generate a step level improvement in results. The entire innovation effort, together with the Initiatives Diamond and SIMPLâ„ ¢ process, is sponsored and owned by both the commercial (sales and marketing) and technical (R&D and engineering) communities. An important step was the creation of Initiative Success Managers who report to each of the company’s busin ess unit presidents. These Initiative Success Managers make the diamond and SIMPLâ„ ¢ work. QUESTIONNAIRE: A small survey was carried out to find out the behaviour of cosmetic users. The survey was primarily designed to check on behavioural aspects of the users towards new innovative cosmetic products. The questionnaire is given below, followed by findings : NAME: GENDER: AGE: OCCUPATION: 1. Do you use cosmetics? †¢ Yes †¢ No 2. How much is your income per month? †¢ Dependent †¢ 35,000 3. How much do you spend on cosmetics per month? _______________ ( Do you agree with the following statements? Q4 –Q8 1-strongly agree 2-agree 3-neutral 4-disagree 5-strongly disagree ) 4. I try new products 5. I switch brands if some other brand comes up with a better product 6. I often find gaps in my current product 7. I wait till I finish my current product till I buy another similar purpose product 8. I would rather reuse a good produce than try a new similar purpose product 9. Why do you switch products (tick all that are applicable) †¢ Price †¢ Packaging †¢ Availability †¢ Fragrance †¢ Utility †¢ Reviews 10. What kind of products do you use? †¢ Herbal †¢ Ayurvedic †¢ Scientific †¢ Any 11. On an average how long do you use a product before changing it? 8 weeks 12. How many times a year do you try a new product? †¢ 10 13. How many times do you reuse a product before trying a new product? †¢ 0-1 †¢ 2-3 †¢ 4-6 †¢ >6 14. Does the range of products available in the market match your requirements? †¢ Yes †¢ No 15. When a new product with a new feature is launched , how soon do you try it? †¢ Within 1st month †¢ 2-3 months †¢ 4-7 months †¢ 8-12 months †¢ >1 year 16. Compared to your current expenditure on cosmetics how much extra are you willing to spend on a new product with better feature/results? No extra money †¢ 1-10% †¢ 11-25% †¢ 26-50% †¢ >50% 17. On a scale of 1-5 , how important is the following feature in a cosmetic product, for you to buy it? Rank the options from 1-5 where : 1-Most important & 5- least important †¢ Packaging †¢ Fragrance †¢ Reviews †¢ New feature †¢ Brand ambassador FINDINGS OF THE QUESTIONNAIRE: †¢ The questionnaire was answered by 25 females and 10 males. †¢ There were 20 from the age group of 30-35 years, 5 from age group 20-25 years and 10 from age group 25-30 years. About 70% of the respondents spend around 3% of their income on cosmetics per month. †¢ 67% of the respondents try new products. [pic] †¢ 63% of the respondents switch brands if s ome other brand comes up with a better product. †¢ 80% of the respondents often find gaps in their current product inspite of the huge range of cosmetics available. [pic] †¢ 34% of the respondents wait till they finish their current product till they buy another similar purpose product. †¢ 27% of the respondents would rather reuse a good product than try a new similar purpose product. 87% of the respondents switch products due to better utility, 64% on the basis of reviews, 39% depending on availability, 30% depending on price, 12% depending on fragrance and 6% depending on fragrance. [pic] †¢ 58% of the respondents use a product for 6-8 weeks before changing it. †¢ 42% of the respondents try a new product 3-6 times a year. †¢ 60% of the respondents reuse the same product only 2-3 times a year before trying a similar new product. †¢ Despite the wide variety of products available in the market, 66% of the respondents feel that the products in the ma rket do not match their requirements. Maximum percentage of the respondents buys a new product with 2-6 months of its launch. †¢ 6% of the respondents are willing to pay no extra money for a new product with better features, 15% of the respondents are willing to pay 1-10% extra money for a new product with better features, 33% of the respondents are willing to pay 11-25% extra money for a new product with better features, 25% of the respondents are willing to pay 26-50% extra money for a new product with better features & 21% of the respondents are willing to pay more than 50% extra money for a new product with better features. pic] †¢ For 56% of the respondents a new feature in a cosmetic product motivates them into buying. All the above responses indicate towards the fact that customers are tempted to buy new, innovative, better products. REFERENCES : R. G. Cooper, S. J. Edgett & E. J. Kleinschmidt, New Product Development Best Practices Study: What Distinguishes the Top Performers, Houston: APQC (American Pr oductivity & Quality Center), 2002; Robert G. Cooper, Michael S. Mills, Succeeding at New Products the P&G Way: Work the Innovation Diamondâ„ ¢,working paper no. 1, 2005 R. G. Cooper, S. J. Edgett & E. J. Kleinschmidt, Best Practices in Product Innovation: What Distinguishes Top Performers, Product Development Institute, 2003. R. G. Cooper, Product Leadership: Pathways to Profitable Innovation, 2nd edition. Reading, MA: Perseus Books, 2005. R. G. Cooper & E. J. Kleinschmidt, â€Å"Benchmarking firms’ new product performance and practices†, Engineering Management, 1995. John Hauser, Gerard J. Tellis, Abbie Griffin, Research on Innovation: A Review and Agenda for Marketing Science, 2006 M. Mills, â€Å"Implementing a Stage-GateTM process at Procter & Gamble†, Association for Manufacturing Excellence International Conference, â€Å"Competing on the Global Stage†, Cincinnati, Ohio, October 2004. R. G. Cooper, Winning at New Products: Accelerating the Process from Idea to Launch, 3rd edition. Reading, Mass: Perseus Books, 2001. R. G. Cooper and S. J. Edgett, Product Innovation and Technology Strategy (Hamilton, ON: Product Development Institute, 2009). PDMA’s quarterly magazine for Product Development professionals, How P&G achieves such stellar NPD results, Insights into Innovationâ„ ¢, October 2005 Vol. XXIX No. 4,