Essay Cold War Presidents - 1736 Words

The 1950s in America are remembered as a sort of golden age in our history, not just because the economy was thriving, people could move out of the busy city to the quiet suburbs, and Humphrey Bogart and Frank Sinatra was still alive, but because things were simple. True, we entered into an arms race that would hang like a sword over the heads of the American people for the next thirty years, but other than that, people were comforted with the fact that they knew that America was the indisputable hero out to beat the malevolent villain. We were a country of Spaghetti Westerns and Superman, and were too comfortable portraying ourselves as the lawful good. However, by the time we get involved with Vietnam, more and more Americans began to†¦show more content†¦Unfortunately for Truman, the bombs that destroyed Hiroshima and Nagasaki ended the war far earlier than almost anyone had predicted, and propelled the nation into a process of reconversion. The lack of planning was soon compounded by a growing popular impatience for a return to normal economic conditions. The problem that Truman’s administration made was attempting to hasten that return, despite warnings from economists. While his approval ratings quickly declined, Truman put into effect FDR’s GI Bill of Rights from 1944 which provided economic assistance for veterans, and while this addition to the already present flood of consumer demand ensured that there would be no new depression, it did contribute to more than two years of serious inflation. Truman also had to deal with labor unrest, and when the United Mine Workers went on strike in 1946, and he threatened to use the army the trains, and effectively pressure the workers back to work after only a few days. And through all of his unpopularity, Truman was still persistent to institute his Fair Deal programs, and the American people could rely on his unfazed determination. He called for the expansion of Social Security benefits, r aising the minimum wage, a program to ensure full employment through aggressive use of federal spending and investment, a permanent Fair Employment Practices Act, public housingShow MoreRelatedThe President Of The Cold War Essay834 Words   |  4 PagesMoment Gorbachev, Reagan, Bush, and the End of the Cold War, 1981-1991 Even though the United States and Soviet Russia have faced nuclear crisis several times, they have finally compromised that they would end the Cold War. The President of the United State, Donald Reagan and Soviet Russia Leader Mikhail Gorbachev declared that the US and Soviet Russia is old friend and the Cold War was ended. Donald Reagan is known as an extraordinary president because of his character and his practices. He wasRead MorePresident Truman s The Cold War948 Words   |  4 PagesPresident Truman’s philosophy was to come to the defense of those countries at risk of a Soviet takeover, however, the United States wouldn t begin a war with the Soviet Union. He also created alliances with Europe, which was a contrast to the past as a result of from the time of Washington’s Farewell Address, Americans have strongly favored avoiding all foreign entanglements. He additionally was condemned by the paranoia created by the red scare, ordering the investigations of three million federalRead MorePresident Nixon s The Cold War1438 Words   |  6 PagesPresident Nixon heightened the war, but, it didn t change the movement of force. It was simply expanding the measure of passings, and not finishing anything. There were many funny stories going around about costly plane work that were disgracing , where we d send billions dollar flying machine into North Vietnam,That didn t go over exceptionally well. Our warriors were progressively being murdered by falling into pits, executed, injuring. The whole ordeal didn t create the impression that ourRead MoreWas President Truman Responsible for the Cold War? Essay1105 Words   |  5 PagesPresident Harry Truman came into office right at the end of World War II, after the death of President Franklin Roosevelt. Almost immediately after becoming president, Truman learned of the Manhattan Project, and had to decide whether or not to use the atomic bomb. With the advice of James Byrnes, Secretary of State, Truman decided to drop two atomic bombs on Japan, in part to demonstrate America’s power to the world and gain a political advantage in Europe (Offner 294). After World War II endedRead MoreHarry S. Trum President Of The United States After The Cold War1025 Words   |  5 Pagesyears in office he came across with massive challenges in both foreign and domestic affairs. Truman’s approaches toward the Soviet Union in the Cold War, and overseas became a major way of leading foreign policy in America for generations. At home, Truman protected and reinforced the New Deal reforms of his predecessor, guided the American economy from a war-time to a peace-time footing, and advanced the cause of African-American civil rights. Harry Truman, son of John Anderson Truman and Martha EllenRead MoreTruman s President Was Extremely Significant During The Cold War1870 Words   |  8 PagesHarry S Truman President was extremely significant during the years 1945-1953 and after succeeding Roosevelt in 1945, faced a huge task in attempting to rebuild post war Europe. His impact on international relations was key as he bridged the gap between the end of WW2 and the beginning of the Cold War. Despite becoming aware of the Nuclear weapon at Potsdam, it was not until Truman announced that he was going to use it on the Japanese did the fight for balance of power intensify. The Berlin AirliftRead MoreThe 70s Are Not Totally Happy `` Days1667 Words   |  7 PagesThe 50s are not totally â€Å" happy† days. In American history the post war 1950s, was a unforgettable era. T.V. shows were made, showing early childhood experiences in 1950s. For example, some shows such as LEAVE IT TO BEAVER and FATHER KNOWS BEST. These shows leave viewers with historical facts from the past. Not everyone was happy, a group of civilians and nonconformists pointed out the flaws in a suburb they believed had no moral, a government that was growing viciously with power. A lifestyleRead MoreCold By: Na Lin Introduction The Cold War Is The Relationship1014 Words   |  5 PagesCold By: Na Lin Introduction The Cold War is the relationship between the US and the USSR after WWII.Different views were clashing. Both sides struggle for dominance. They took every chance they can get to expand in the world.It was a rivalry that was open yet restricted.George Orwell was the first person to use the term â€Å"Cold War† in an article in England in 1945.The first person to used the term in the United States was by Bernard Baruch in a speech in 1947.The Cold War had solidified by 1947-1948Read MoreCommunism s Effect On Technology907 Words   |  4 Pages10 September 2015 Communism’s Effect on Technology World War II began because of an invasion from Nazi Germany to Poland causing Britain to declare war on Germany. During the fall of World War II and the beginning of the Cold War, space exploration was at the top of America’s to do list. America was not the only country interested in gaining answers about the solar system and its planets. There were many times during the Cold War where the Soviet Union would have dramatic increases in scienceRead MoreThe Cold War Was Predominately Between Two Major Powers1665 Words   |  7 PagesThe Cold War was predominately between two major powers in the world. These two super powers were the Union of Soviet Socialist Republics (USSR) and the United States beginning in 1947. The Cold War happened relatively soon after the Second World War. Why did the Cold War begin? In 1947, the Cold War began and it was due to various reasons. Some historians believed that the bombing of the Japanese cities of Hiroshima and Nagasaki caused the Cold War . In addition, the United States president during

Usage of Social Media Word of Mouth - 968 Words

1. Introduction: 1.1. Usage of Social media WOM: Social media has played a significant role in consumer decision making, including such areas raising awarness, sharing information and opinions as well as postpurchase experience ( Mangold and Faulds,2009). It turns out that consumers tend to trust knowledge and experience shared by other customers on social media more than those opinions reviewed by the manufacturer or the marketer of the product or the service.(Linchi Kowk,2012) In an environment where there is a significat growth in the usage of the Social media, like facebook, twitter, whats app and so on. All these sources of social media involve the presence of the Word of mouth. Word of mouth plays an important role in marketing for a brand whether it is a good or a service.Word of mouth offers a way to obtain a significant competitive advantatge to a brand. The important role of e-WOM has and has been acknowledged as the most important communication source between consumers .At its core, WOM is a process of personal influence, in which interpersonal communications between a sender and a receiver can change the receivers behavior or attitudes . The role that interpersonal communication plays in influencing opinions has also long been acknowledged by sociologists, who identified the importance of â€Å"opinion leaders† in this process. The ability of individuals to influence other peoples opinions is of particular interest to organizations seeking to marketShow MoreRelatedBeauty Awareness Essay1420 Words   |  6 Pageslive an active life, know the importance of work life balance. 1.3 SOCIAL CULTURAL FACTORS Female professionals wives of professionals. Educated, know that there are side effect to chemical based products. 1.4 VALUES / ATTITUDE FACTORS Work life balance. Consider taking care of their skin as major priority. Looking for natural skin care products which are good money value and also good quality. 1.5 EXISTING PRODUCT USAGE Not stated 2 CONSUMER PROFILE 2.1 DEMOGRAPHIC INFORMATION AustraliaRead MoreOnline Brand Engagement Is Different From Offline Engagement Essay1211 Words   |  5 Pagesof the customer’s interactions with a brand, company and other customers are different on the internet (Chak 2003). Verhoef et al. (2010) support that customer engagement consists of multiple online-behaviors as blogging, customer ratings and e-word of mouth. Furthermore, they state that customer engagement is affected by firm initiatives, customer characteristics, and environmental/contextual factors (Verhoef et al., 2010). According to Sashi (2012) customer engagement is a topic that has had an emergingRead MoreCell Phone Use And Cell Phones Essay843 Words   |  4 Pages I. INTRODUCTION A. (Attention Grabber) Have you ever witnessed disruptive cell phones usage in public? When is it acceptable, to use cell phones in public? Americans today have adapted the addiction of cell phone technology, the device accommodates more than just text or talking.Cell phone use is a problem in America and in our own homes. The existence of cell phones have changed the communication skills of many round the world. I believe the wave has sailed right along with rude public cellRead MoreThe Effects Of Social Media On The Development Of Mobile Technology1385 Words   |  6 PagesSocial Media Media Broadcast Marketing The increase of social media and the development of mobile technology in the last decade has been significant, which has transformed the communication strategies and especially with sharing the experiences and how information should be marketed to the target audience. According to Hollensen (2014), the selection of newspapers, web sites, and TV to be used for advertising (series of actions to reach goals) needs to be done (at the same time) with the developmentRead MoreIn George Orwell’S Famous Book 1984, The Party Runs The1536 Words   |  7 Pagespredicting both modern day media manipulation and propaganda because it shows how the media can and does change the past, present, and future. In 1984 propaganda is used to manipulate the population by turning them against one man, Goldstein, as a distraction so that the Party can do as it pleases. The Party is obsessed with the idea of having power at all costs, and obtains power by keeping the public controlled. 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Moreover, now, Facebook had 1.79 billion active users monthly while Instagram has 500 million active users answering the effectiveness of social media platforms in general. Also, in Kuwait, there is a rapid evolution regarding social media effect on small businesses and home businesses. Moreover, a great response from the customer s side as well. Reaching the customers and targetingRead MoreThe Effects Of Social Media On Society Essay1644 Words   |  7 PagesSocial media has become prominent parts of life for many young people today. Most people engage with social media without stopping to think what the effects are on our lives, whether positive or negative. Are we as a society becoming more concerned with Facebook friends than we are with the people we interact with face-to-face in our daily lives? What will the longterm effects of today s social media use be? There are many positive aspects, but there are equally as many dangers that come withRead MoreFor Targeting New Customers, What Are the Advantages and Disadvantages of Using These Social Networks Compared to Search Engine Advertising?1497 Words   |  6 PagesPlanning Strategy Think about an online social media network like Facebook or LinkedIn. For targeting new customers, what are the advantages and disadvantages of using these social networks compared to search engine advertising? Provide specific examples of products that lend themselves more to social networks as compared to search engine advertising. I am going to use the quote, â€Å"it takes a village† and put into the context on how social media sites such as Facebook and LinkedIn can influenceRead MoreBud Light s Current Advertising Strategy1623 Words   |  7 PagesGeneration†). Social media is the best choice for an internet advertisement, with 42 percent – over 27 million people – of the population using some form of social media (Brockman). Social media further compliments the consumer group by providing a method to share product information via word-of-mouth – an activity some 96 percent of the fifty and older age group partakes in (â€Å"It’s Official: Marketers Can’t Afford Not to Build Relationships with Boomers†). Facebook should be the primary social media target

British Literature Free Essays

Auden has called Alfred Lord Tennyson, the `Stupidest of English poets. ’ Auden wrote, â€Å"There was little about melancholia that [Tennyson] didn’t know; there was little else that he did. † Do you agree with Auden’s assessment? Why or why not? Wystan Hugh Auden, in Forewords and Afterwords, claims that Alfred Lord Tennyson â€Å"had the finest ear, perhaps of any English poet†¦he was also undoubtedly the stupidest† (204). We will write a custom essay sample on British Literature or any similar topic only for you Order Now One may easily agree with his initial claim regarding Tennyson’s possession of a ‘fine ear’. Consider for example, the words that he used to describe an individual’s dilemma regarding his religious beliefs as they are presented in his poem â€Å"In Memoriam. † He states, â€Å"Strong Son of God†¦/ (W)e have not seen thy face, / By faith, and faith alone, embrace, /Believing where we cannot prove† (Tennyson 5). The power of these lines immediately allows the reader to share the conflict experienced by the individual speaking within the poem. As opposed to agreeing with Auden’s initial claim regarding Tennyson’s possession of a ‘fine ear,’ it is difficult to concur with his second claim that Tennyson is ‘the stupidest English poet. ’ The reason for this initially lies in Auden’s failure to present his reasons as to why he considers Tennyson to be ‘the stupidest English poet. ’ He does not state whether he considers Tennyson to be ‘the stupidest English poet’ due to his choice of topics in his works or due to his discussion of the topics that he has chosen in his works. One may argue that the basis for Auden’s claim is evident as he states, â€Å"There was little about melancholia that [Tennyson] didn’t know; there was little else he did† (204). If one is to assume that the basis for his claim that Tennyson is ‘the stupidest English poet’ is based on his criticism of both Tennyson’s topics as well as his discussion of these topics within his works, as can be seen in his statement regarding Tennyson’s discussion of ‘melancholia,’ it is still difficult to agree with Auden’s claim due to Tennyson’s ability to combine both the aesthetic and the analytic aspects of creativity in his works. For example, although Tennyson was a part of the Victorian Era, he was able to critically assess the issues during his time. His discussion of the inconclusiveness within â€Å"In Memoriam† shows his ability to point out the problems caused by Christian theology to its members. By stating that the only recourse for the members of the Christian Church is to believe in the tenets of Christian theology, Tennyson was able to point out that the religion is characterized by an incoherent system of beliefs. Question Number Six: Many critics have said of James Joyce’s The Dead that all the characters are partly dead and are performing a funeral ritual as the caretaker looks on. Do you agree? Why or why not? James Joyce, in his novel The Dead, presents the different meanings associated with the concept of death. This is apparent as he associates death not only with an individual’s biological lack of life but also as he associates death with an individual’s inability to live. To live here refers to an individual’s inability to appreciate life which is apparent either in his continuous plight for death itself [i. e. committing suicidal acts] or in his adaptation of a mechanical life. Within the text, this distinction is apparent as the narrator contrasts ‘moments of ecstasy’ to ‘years of dull existence’. In addition to this, one is also presented with the images of individuals that are alive yet apathetic to their existence in contrast to the images of objects that are brimming with life in their surroundings. Consider for example the following passage: The morning was still dark. A dull yellow light brooded over the houses and the river and the sky seemed to be descending. It was slushy underfoot and only streaks and patches of snow lay on the roofs on the parapets of the quay and on the area railings†¦Gabriel’s eyes were†¦bright with happiness†¦A wave of yet more tender joy escaped from his heart†¦Like the tender fire of stars moments of their life together. (Joyce 56) In this passage, one sees the emphasis on Gabriel’s bright mood in contrast to the deadening characteristics of their surroundings. This deadening characteristic of their surroundings is further more emphasized within the text as Joyce compares these surroundings and the individuals within it to those who are attending a funeral. For Joyce, all these individuals are trapped within their own self-made caskets of life as they continually strive to the attainment of their own biological death. In the case of Gabriel, this is apparent as he slowly realizes the gravity of his past offenses thereby leading him to adhere to a passive form of life. Question Number Eight: According to John Stallworthy and Jahan Ramazani, Virginia Woolf writes â€Å"in an informal, personal, playfully polemical tone, which is implicitly linked to her identity as a female writer. † Yet she proposed literature that would be ‘androgynous in mind’ and resonate equally with men and women. Is Virginia Woolf primarily a feminist writer, or is she ‘androgynous in mind’? John Stallworthy and Jahan Ramazani, in their discussion of Virginia Woolf’s works, argue that Woolf writes â€Å"in an informal, personal, playfully polemical tone, which is implicitly linked to her identity as a female writer. † Initially, one may state that this contradicts Woolf’s quest to develop literature which is ‘androgynous in mind’ since this may imply that Woolf is unable to transcend her gender as her gender is apparent in her writing style. It is important to note however that there is a difference between the two concepts [concepts: ‘style’ and ‘mindset’] since ‘style’ merely refers to the extrinsic aspect of an individual’s work whereas ‘mindset’ refers to the intrinsic aspect of an individual’s work. If such is the case, it follows that to produce works that are characterized by the typical style associated to one’s gender does not necessarily entail that the content of one’s work is also the same as the content of the works that are typically associated with one’s gender. In addition to this, it is important to note that there is no contradiction in claiming that one is a feminist writer and one is a writer who opts for the development of literature which is ‘androgynous in mind. ’ It is important to note that one of the main assumptions of feminism is to enable equality between the sexes. Despite the varying means through which such equality is deemed to be achievable in the different strands of feminism, the similarity between these strands of feminism can be traced to their plight for the creation of a gender free society. Virginia Woolf, in her essay â€Å"A Room of One’s Own,† opts for the construction of this gender free society as she argues that it is only by developing an androgynous mindset that individuals will be able to actualize their full potentialities. She states, â€Å"It is when this fusion takes place [the fusion between the rational and the emotive] that the mind is fully fertilized and uses all its faculties† (Woolf 128). Within this context, if one is to consider a feminist as an individual who opts for the equality between the sexes and if one is to consider an ‘androgynous mind’ as a mind that uses both its rational and emotive aspects, one may state that Woolf is both a feminist writer and a writer who is androgynous in mind since there is no difference between the two. Works Cited Auden, Wystan Hugh. Foreword and Afterwords. Ed. Edward Mendelson. Np: Vintage Books, 1990. Joyce, James. The Dead. California: Coyote Canyon P, 2008. Tennyson, Alfred. â€Å"In Memoriam. † In Memoriam, Maud and Other Poems. Np: Kessinger Publishing, 2004. Woolf, Virginia. â€Å"A Room of One’s Own. † A Room of One’s Own and, Three Guineas. Oxford: Oxford UP, 1998. How to cite British Literature, Papers

Supermarket Industry Analysis

Question: Discuss aboout the Supermarket Industry Analysis. Answer: Introduction The report would discuss the supermarket industry of Australia through Porters Five Forces analysis. An overview of supermarket industry would present the current market situation of the industry and the major players of the industry. Porters five forces would help to analyze the environmental factors of the industry. Further, profitability of the industry would be assessed by construing results from the analysis of Porters five forces. The driving factors of profitability would also be evaluated to understand their impact on the industry in future. Supermarket Industry Overview The supermarket industry of Australia has been under constant pressure due to fierce competition among the players. The major players of the industry are Woolworths, Coles, Aldi, and IGA. Woolworths is the market leader of retail market by occupying the market share of 36.3% being followed by Coles and Aldi with the market share of 33.2% and 12.5% respectively (Roy Morgan Research, 2016). Woolworths and Coles are Australian based company and have been competing with each other to increase their number of customers. (Source: Roy Morgan Research, 2016). Aldi being a German based chain entered the market in 2001 with its low price strategy and acquired a significant market share through its extensive marketing campaigns (Tay, 2014). Thus, due to tough market competition the supermarket industry has very low margins and the companies consistently struggle to optimize their logistics and operations to reduce their overall cost and increase their profitability. The entrance of Aldi in the Australian market has added fuel to the competition through its low price strategy that supported its exponential growth in the market (Low, 2017). The company acquired a market share of 12.5% by bringing down the market position of Woolworths and Coles supermarket (Roy Morgan Research, 2016). Thus, the supermarket industry has high competition with low margins. External Environment Analysis As discussed above, supermarket industry has been under constant pressure due fierce market competition. An external environment analysis would make an attempt to understand the five forces of the industry called Porters Five Forces. Porters Five Forces Porters five forces analysis would help to evaluate the attractiveness of supermarket industry in Australia by analyzing five factors of an industry (Hill, Jones and Schilling, 2014). Bargaining Power of Buyers Bargaining power of buyers determine the pressure exerted by the consumers on the companies. The determining factors are switching costs, price sensitivity and customer loyalty. The consumers can easily shop from the supermarket that appeals to them through lucrative prices and offers. The consumers were easily attracted by the low pricing strategy of Aldi that boosted the companys market share and Woolworths and Coles witnessed a slump in their market share (Murphy, 2015). Since the number of options for the consumers is increasing with every new entrant, thus, switching costs for the consumers is very low (Blut et al, 2014). They are more likely to get attracted by companys prices, attractive offers and discounts, satisfactory customer services, quality of the product and ease of shopping (AFN, 2015). Further, with every new entrant, there is a decline in the prices by the competitors so as to make their strategic move against the new entrant. For instance, when Aldi entered the market through its low pricing strategy, Coles and Woolworths also slashed their prices to retain their existing market share (News, 2015). Thus, the prices are highly sensitive. Customer loyalty is another factor affecting buyers bargaining power. With low switching cost and highly sensitive prices, the most loyal customer of a brand is very likely to get move towards the competitor. Customer loyalty is driven by the factors product quality, satisfactory customer services, low prices and lucrative offers and discounts (Orel and Kara, 2014). In the process of competing with each other, every retail chain is compelled to offer the highest standards of services to the customers that give them wider options to shop from. Thus, with low switching cost, highly sensitive prices low customer loyalty, the industry faces an intense pressure from the buyers due to which the companies have been consistently struggling to offer the highest standards of customer service. Bargaining Power of Suppliers The bargaining power of the suppliers determines the pressure exerted by the food producers, labor and other suppliers on the supermarket companies (Sutton-Brady, Kamvounias and Taylor, 2015). With increasing number of supermarket players in the country and their surging market share gives them an authority to exert pressure on the food and local suppliers of Australia (Schleper, Blome and Wuttke, 2015). The giant players such as Coles and Woolworth with combined market share of around 70% are able to compel the suppliers to offer food products at low prices because of their bulk purchase (Ma, 2014). Further, with their increasing market share they have also entered into production and processing sectors that again give them an authority and power over the suppliers (Bariacto and Nunzio, 2014). Further, the pressure exerted by the employees on the companies is moderate because of abundance of labor availability in the market. With the increasing number of stores of top three retailers increases the opportunity for employees. Thus, bargaining power of suppliers can be considered to be moderate. Threat of New Entrants The threat of new entrants would be determined by entry supported factors and entry barriers to the industry. A new entrant firm would have to make a huge investment to set up the physical infrastructure and the entire process. Economies of scale would be another barrier for the new entrant that is very difficult to attain with low margins and breakeven point can only be achieved after a long period of time. Though, the new entrant would benefit from the low switching cost of consumers and the government supported competition in the market of Australia. Thus, a firm with strong financial background with its running operations in some other market (probably an international retail chain) could easily impose threat on the industry. Rivalry Among Existing Firm The supermarket is dominated by only few major players namely Woolworth, Coles and Aldi. The three retail chains dominate over around 82% of the market. There is an intense competition in the market among these three players and they have consistently fighting over the market share through their strategic moves in the market (Hawthorn, and Low, 2017). Aldi entered the market with its unbeatable low prices that surged its market share to 12.5% within a short span of time. In order to respond to Aldi strategic move the other two players started a price war by slashing their prices. The competition is due to the fact that all the firms are equal in terms of their services and resources. Thus, in spite of few market players, there is a fierce competition among the existing firms. Threat of Substitute The threat could be determined by availability of substitutable products in the industry or purchasing from local farmers and food producers. Since the products offered by the retail chains are grocery and highly essential products due to which they are irreplaceable by any of the substitute. Thus, the threat of substitute is very low because of unavailability of substitute products. Profitability of Industry From Porters five forces analysis, there are many aspects of retail industry that can be construed. The bargaining power of suppliers was found to be moderate because of increasing number of stores of supermarket store outlets in the country that has given significant authority and power in the hands of the players. The threat of substitutes was found to be negligible that is an added advantage to the industry. Though bargaining power of buyers was evaluated to be extremely high and the demands of consumers have been consistently increasing as they get wider choices and options. This affects the attractiveness and profitability of the industry because with the increasing demand of consumers, the companies have to reduce product prices and offer higher standards of services that reduce the profits of the companies. Further, existing competition was also evaluated to be fierce and intense and entrance of new firm would fuel the competition. Thus, the analysis suggests that the industry has huge profitability because of low bargaining power of suppliers and negligible threats of substitutes. A large firm can easily negotiate with the suppliers to offer products at lowest possible prices because of their power and authority that they have gained with the dominating market position. Further, some companies have also set up their own production houses to reduce their costs further. Thus, the supermarket industry has great profitability as can be inferred from analysis. In order to drive profitability, there are few factors as discussed below that must be recognized by the companies: Supply Chain Management An effective supply chain management system is the key to profitability for supermarket companies. Maintaining inventory levels in the stock shelves is an essential component of supply chain management (Ernst Young, 2013). It is required because extra stock would add to the cost of the company and low inventory level would incur potential revenue loss to the company. Further, effective use of technology should also be there to ensure optimum levels of stock in warehouses (Ernst Young, 2013). Simple Operating Model A complicated model adds on to the cost of the company by introducing unnecessary processes and stock keeping units (SKUs) (Ernst Young, 2013). Though large number of stock keeping units facilitates distribution on large scale level through large number of distribution centers and suppliers, but it makes the process more complicated and adds to the cost of the company. It has been found that reducing SKUs to half, the companies have reduced their cost to half. Thus, a simple operating model would drive the profits for the industry. Product Mix The supermarkets such as Aldi offer single variety of product due to which it is likely to be affected by the price hike of the particular product. When supermarket offers them variety of products in form of product mix, they could attract more number of customers (Hernant, 2009). This would also protect them from fluctuating prices of products. Staff Many retailers have reduced their costs by properly regulating their staff members. This has been achieved by distributing the total working hours over the entire week and ensuring that at any time required staff is available (Ernst Young, 2013). New Channels With the increasing trend of technology and internet, online channel has acquired the retail industry (Schmid, Schmutz and Axhausen, 2016). Customers prefer to shop online because of convenient factor (Jiang, Yang and Jun, 2013). The companies could easily boost up their sales by adopting new channels such as online shopping and mobile application based shopping (ONiell, 2015). Many supermarket companies also offer home delivery services to their privileged customers (Coles, 2014). Impact on Industry Profitability With the increasing use of technology the supply chain management methods are likely to change such as method of demand forecasting. This is likely to increase the profitability of the industry because of higher accuracy and prediction levels for food and other products. In future, the companies are likely to adopt simpler model by eliminating all forms of redundancies that would lead to higher profitability. The product mix strategy is likely to shield the fluctuating prices of the companies. In future, the trend of online shopping is going to increase and consumers are more likely to prefer online shopping over traditional shopping that would again increase the profitability of the industry (Zrim, 2016). Thus, the changes are likely to increase the profitability of the industry. Conclusion The report has analyzed the five forces of retail industry in Australia using Porters five forces analysis. Bargaining power of buyers was evaluated as high enough to impose threat on the companies in terms of high service standards and product quality. Further, in spite of few competitors in the market, there was very intense competition in the market. Bargaining power of suppliers was low because of power and authority of the supermarket chains. Since the supermarket offers essential products therefore, threat of substitutes was analyzed to be low. Further, profitability and its driving factors were discussed. The supermarket industry is profitable because of low bargaining power of suppliers and nonexistent threat of substitutes. The major driving factors of the profitability were evaluated as supply chain management, staff, simple operating model, product mix, store layout, strategic supplier relationship and new channels. Supply chain has been found to be the key aspect of driving profitability because an effective supply chain would ensure optimum levels of inventory in the stores and warehouse. References AFN. (2015). Woolworths announces new strategies to win over grocery shoppers, AFN reveals full detail. Australian Food for Thought. Available at: https://www.ausfoodnews.com.au/2015/05/06/woolworths-announces-new-strategies-to-win-over-grocery-shoppers-afn-reveals-full-detail.html [Accessed Online 3 April 2017]. Bariacto, N., and Nunzio, J. (2014). Market Power in the Australian Food System. Future Directions. Available at: https://www.futuredirections.org.au/publication/market-power-in-the-australian-food-system/ [Accessed Online 3 April 2017]. Blut, M., Beatty, S.E., Evanschitzky, H. and Brock, C. (2014). The impact of service characteristics on the switching costscustomer loyalty link.Journal of Retailing,90(2), pp.275-290. Coles. (2014). Home delivery delivered to your kitchen bench. Coles. Available at: https://shop.coles.com.au/online/mobile/national/info/home-delivery [Accessed Online 5 April 2017]. Ernst Young. (2013). Retail Operations: Six success factors for a tough market. Ernst Young. Available at: https://www.ey.com/Publication/vwLUAssets/Retail_Operations_-_Six_success_factors_for_a_tough_market/$FILE/EY_Retail_Operations_-_Six_success_factors_for_a_tough_market.pdf [Accessed Online 3 April 2017].Hawthorn, M., and Low, C. (2017). Coles, Woolworths, Aldi in battle for diminishing shopper dollars. The Sidney Morning Herald. 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