Integrated Marketing Communications of Transcom Beverage Bangladesh Essay Example

Integrated Marketing Communications of Transcom Beverage Bangladesh Essay Integrated Marketing Communications is a simple concept. It ensures that all forms of communications and messages are carefully linked together. At its most basic level, Integrated Marketing Communications, or IMC, as well call it, means integrating all the promotional tools, so that they work together in harmony. Promotion is one of the Ps in the marketing mix. Promotions have their own mix of communications tools. All of these communications tools work better if they work together in harmony rather than in isolation. Their sum is greater than their parts providing they speak consistently with one voice all the time, every time. This is a management concept that is designed to make all aspects of marketing communication such as advertising, sales promotion, public relations, and direct marketing work together as a unified force, rather than permitting each to work in isolation. About Transcom Originated with tea plantations in 1885, TRANSCOM today is one of the leading and fastest growing diversified business houses in the country employing over 10000 people. Not many industrial groups in Bangladesh can claim a history of continuous business pursuits stretching back over 125 years! Initially tea and later jute formed the backbone of the family business. Although these are still part of   the activities and contributing marginally to the overall group turnover. Presently those early industrial ventures have moved over to businesses involving high-tech manufacturing, international trading and distribution, forming strong ties with a host of blue chip multinational companies. We will write a custom essay sample on Integrated Marketing Communications of Transcom Beverage Bangladesh specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Integrated Marketing Communications of Transcom Beverage Bangladesh specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Integrated Marketing Communications of Transcom Beverage Bangladesh specifically for you FOR ONLY $16.38 $13.9/page Hire Writer In recent years, TRANSCOM has emerged as the largest media house in Bangladesh. Transcom Beverages Ltd Transcom Beverage Ltd (TBL) is the exclusive PepsiCo Franchisee for Bangladesh. TBL owns and operates modern plants in Dhaka and Chittagong for bottling the renowned soft drink brands such as, Pepsi, 7UP, Mirinda, Slice, Mountain Dew, Pepsi Diet and 7UP Light. The company is emerging with the motto to deliver sustained growth in Bangladesh and move towards dominant Beverage Company, delighting ; nourishing every Bangladeshi, by best eeting their everyday beverages needs ; stakeholders by delivering performance with purpose, through talented people. 2009 has been an amazing year for TBL, winning several spectacular awards as PepsiCos exclusive bottling partner in Bangladesh. For its extraordinary and outstanding venture through excellence TBL has been rewarded with several prestigious national and international recognitions. Pic: Products of Transcom Beverage The basic tools used to accomplish an organization’s communication objectives are often referred to as the promotional mix. These tools include: * Advertising – any paid form of non personal communication about an organization, product, service, or idea by an identified sponsor * Direct marketing – communication directly with target customers to generate a response and/or transaction * Interactive/Internet marketing – communication through interactive media such as the Internet, CD-ROMS and kiosks. Sales promotion – marketing activities that provide extra value or incentives to sales force, distributors, or consumers to stimulate immediate sales * Publicity/Public Relations – Publicity is a form of non-personal communication not directly paid for or run under identified sponsorship. Public relations is a management function which executes programs of action to earn public understanding and acceptance an enhance the image of the company. * Per sonal Selling – person-to-person communication between a seller and buyer. Transcom Beverage’s Promotional mix: Advertising Transcom use both Television Commercials and print ads for their advertisement. They also use billboard and radio as a tool of advertising. Transcom beverage advertise its most two renowned brands in Bangladesh – Pepsi and Seven Up. Mountain dew is also used in advertisement, but no such ad is particularly made for Bangladeshi target people only. But Advertisement of Pepsi and Seven Up is prepared targeting Bangladeshi people and by Bangladeshi IMC agencies. Currently, Asiatic 360 is the agency doing the advertisement for Transcom Beverage. TVC 7-Up: The TVC shown below is for 7up. The ad is promoting the newly launched go pack at that time of advertisement campaign. They also has TVC of 7 up with the tagline †Give freshness of life to your mood†: Pepsi: Pepsi endorse two famous Bangladeshi Cricketer Mashrafe bin Mortoza and Sakib Al Hasan for TVC. One TVC campaign has the tagline â€Å"If there is thrist everything is available† and the other one focus on Sakib’s special shot super scoop. Print Ad: Transcom only publish print ad when there is some special event like Eid aor World Cup (Where they partner) or when there is some promotional offer is going on. Pic: 7-up print ad Interactive/Internet marketing Transcom do participate in interactive promotional campaign. During world cup cricket 2011, they had a dedicated website to communicate with its customers who are cricket fan. There the fan could post their comment as well. The website was made with wallpapers and other stuffs of its endorsed celebrity Mashrafe, Sakib and Tamim Iqbal. The website domain is www. pepsichangethe gamebd. com. Pepsi is also using Facebook as a tool of interactive communication recently: Sales promotion Transcom has organized huge promotional campaign during World Cup Cricket 2011. By consuming Pepsi consumers got the chance to visit final match of World Cup. Apart from that they won many attractive prizes through that proportional campaign. The campaign was held by providing a hidden number inside the cap of the bottle. The number then has to be text messaged to a certain number. Then the group of highest ssm sender got the chance to participate in a cricket game competition. Through that competition they got the chance to win nattractive prizes. Pic: Winner of Final match ticket Pic: Other prize winner of the world cup campaign Pic: Collection Card for all consumer Transcom also arrange university based adventurous promotional campaign for its Mountain Dew Brand. Transcom’s team goes to different universities an involve students in that promotional campaigns where participants have to show some adventurous skills. Pic: News on Promotional campaign at DU Transcom Beverage provide free cutouts to its distributors to promote the retail sellers shop as well their brand. For example, here is a enhanced board of 7-up in a retail shop: Public Relation Transcom spent a lot for public relation. Global Pepsi became the drinks partner of World Cup Cricket this year and thus Transcm also took part in public relation in this regard. Pepsi is also the official beverage partner of Bangladesh National Cricket team. Pic: Transcom and BCB signing Ceremony Transcom beverage also sponsor some local cricket events. Transcom provided the opportunity to its consumer to take photographs with WC trophy. Mountain Dew of Transcom was the proud sponsor of Muhit- the second person of Bangladesh to reach the peak of Mount Everest. Pic: Mountain Dew Sponsoring Muhit- the Everest winenr

How to Identify a Target Audience for Your Book in 3 Steps

How to Identify a Target Audience for Your Book in 3 Steps How to Identify a Target Audience for Your Book in 3 Steps Don’t you feel like your book could be a massive hit, if only the right people knew about it? If there were only some way of finding your target audience, you'd be able to reach out and get your novel into their hands or e-readers.This post will lay out a method on how to identify a target audience. You will find the ‘right people’ for your book, learn to see things from their perspective, and discover the most effective channels for reaching them.If you're a self-published author, you probably don't have the resources to market to everyone. The only sensible approach is to appeal to people who are actively seeking books just like yours.   If those people love your book, word of mouth will quickly spread, and you will start to build a loyal following that eagerly awaits your next publication.  So let’s get to it! How to identify a target audience: see things from your readers' perspective Step 1 - How to identify a target audienceHow do you go about figuring out who your book is meant for? While you may have a vague idea, it’s best to be as specific as you can.That’s because when you have an exact description of one ideal reader (this includes key demographics like age, sex, hobbies, interests, location, marital status, etc.), it becomes a lot easier to find similar people and expand your target audience.To understand this better, let’s borrow a concept from the business world: the idea of a ‘proto-persona.' This is basically an imaginary person who shares many traits with your most likely customer. How is this useful for authors? Let’s find out.Creating a proto-persona for your book Facebook Advertising for Authors, by Mark Dawson: Part 2 Read post Step 3 - Hone in on your real audienceYou can only go so far with assumptions of who your readers are, what they like, where they hang out and how they behave. Once you have these assumptions, you need to test them. How exactly do you go about doing that?Testing assumptions with Facebook AdvertisingTo be a successful author you have to start thinking like an entrepreneur. How do you find out whether your book will appeal more to fans of Lee Child or James Patterson? Create two Facebook ads with the same image and a similar copy ("fans of X will love this!") and target them at these two respective target audiences. For example, if fans of Lee Child respond better to your ad (higher click-through rate), then you have your answer.You can run a similar test on your image, or on the tone and length of the text you’re using. A/B test your Facebook ads to see which performs better If you have tons of questions swimming in your head at this point, that’s understandable! Check out this insightful interview with author Mark Dawson on the Reedsy blog,  for  a fun and easy introduction to Facebook advertising for authors.What’s your niche?Use forums like Goodreads to reach people who fit the description of your proto-persona, and expand your network to start conversations and get valuable feedback from real readers. Promotional activities are mutually beneficial if you reach the right communities. In exchange for a free copy, you can ask your newly found readers to review your book.The next steps†¦Most authors and book marketers recommend choosing one or two platforms and focusing your marketing efforts on them. This is a very good idea if you’re just starting out and don’t have the bandwidth to execute a massive marketing plan.You have to hold the attention of your fans by consistently provide them with value, whether that's by releasing free short stories, or engaging them on social media.  The importance of thinking from your reader’s perspective cannot be stressed enough, only because most authors ignore it completely.A loyal following will give you real-time feedback and insights into what your fans enjoy. You’ll be surprised at the amount of traction your book gets just through word of mouth.So don’t waste any more time on directionless marketing, find out where your audience is hanging out right now!Do you have any unique methods of how to identify a target audience? How important is it to have a clear strategy for finding your audience? Leave your thoughts, comments and questions below.

The Anti Slavery Movement In Britain in Birmingham Coursework

The Anti Slavery Movement In Britain in Birmingham - Coursework Example This is because of the fact that though Britain was one of the most influential and prosperous nations in this regard, other nations were no les behind. The practice of slave trade was rather a tricky affair and the basis of such trade was 'need'. Ships from ports such as Liverpool and Bristol used to head towards the backward African mainland laden with small goods such as spices, fabrics, arms and knives etc. things were by far petty and simple for the white man, but something that was of extreme value and demand to the African people. This is because these were some of the many things that the African were deprived of in those days given their backwardness. More often, such goods used to be of very cheap quality, for which Africa proved to be a lucrative 'dump'. As the topic of the essay ges to say, the anti slavery movement has an important association with Britain, and among these, the city of Birmingham has come to hold an important place. Most of these low quality and sub-standard goods were made in Birmingham and were popularly referred to as 'Brummagem ware'. In return for these goods, the African people had to pay the heaviest price they could have ever thought of-'themselves'. Goods were exchanged for large number of African people, who were then brought back or taken to other territories, where they were either sold of slaves or made to do hard work in the form of slaves in those territories. Many of them were captured in armed conflicts with the Europeans winning all of them given the kind of firearms they possessed in comparison to the bows and arrows, wherein the former outclassed the latter.After having been captured or being brought in as part of the trade, these people were then packed like sardines into these slave ships and were brought home to Britain in such inhuman and inhospitable conditions that many of them would perish midway. The conditions were so worse that they would not have the opportunity t o do even the commonest of other daily activities (as they were jam-packed), which resulted in the outbreak of disease. By the turn of the eighteenth century, the trade of slaves had risen to such terrific proportions that ships from Britain were now bringing back as many as 50,000 slaves every year. Those slaves who managed to survive through all the above-mentioned hardships were then sold for transportation to places such as the windies or the America to work in plantations, factories, mills etc1. The goods produced by the slaves within those regions would then come back to Britain, where they were then sold or sold in the colonies for exorbitant prices. Thu, it can be understood that the practice of slave trade profited Britain in particular, and the countries of Europe in general have benefited in huge ways by making huge profits on many trade-related fronts. On the other hand, the slaves who labored hard were made to live and work in inhospitable conditions ridden with poverty and disease. Thus, their fruits of labor were enjoyed by the people back in Britain (and Europe). Moreover, there was no sense of knowledge within the British public largely about the conditions that existed in these plantations and factories, while many just did not bother to know any2.But, as time passed by and decades rolled past, a sense of consciousness began to emerge

Essentials of Political Thought Research Paper Example | Topics and Well Written Essays - 3000 words

Essentials of Political Thought - Research Paper Example During Lewis lifetime, science was just beginning to emerge as the Western world's preferred principal system of thought. Essentially, modern life was beginning to be transformed by technological discoveries that resulted from the developing intellectual activity. Lewis felt that that some attitudes were absolutely fundamental to the existence of man while others were essentially false. He scoffed at the emerging popular belief that moral values could be said to be subjective; and that they could evoke different responses from different people- all of which were right in their own settings. Lewis also differed with schoolteachers who disregarded the function of emotional inclinations in favor of practical utilitarian thinking. He would assert that the purpose of education was to stimulate the development of values, â€Å"good† feelings, and thoughts in students while concurrently curbing the development of â€Å"bad† ones. John Dewey (1859-1952) held completely differen t thoughts from Lewis in the importance of moral absolutes. He stated that in life, real truth is not something that really exists and that any theory that will be referred to as truth has to be experimentally determined. Dewey claimed that in life, no theory or object can be said to be inherently evil or inherently good; it is merely a person's choice on how to view the theory or object that makes it seem either good or bad. Dewey also asserted that nothing can be said to be more valuable than another thing. He would claim that morality is mainly situational, and that even religious beliefs ought to be examined scientifically, and that change in belief is inevitable and desirable. He also rejected subjected to scientific evaluation before they can be verified as fact. Dewey, himself, believed in the truth of organic evolution. He held that man was essentially a sophisticated type of animal that could not be said to have any inner being or claim to immortality in the afterlife. For him, the non-physical aspects of man amounted to being little more than a sophisticated habit system. Dewey would further state that human beings are not naturally selfish or depraved, but are conditioned to behave as they do- whether badly or well, by their environment. Owing to the fact that C. S. Lewis felt that the Western world was engaged in rejecting the biblical statutes that determined the existence of objective wrong and right, and believed that once these principles were presented to school children as being real truths there would be a collapse of society, he defended the tradition of natural law in his famous text, 'The Abolition of Man'. His objective was the salvation of Western civilization (Lewis, 5). For Lewis, the beginning of false teachings was initiated by the 18th century Enlightenment when the West was transformed by the most disastrous cultural transition, which he would aptly name the â€Å"un-christening of Europe† or the â€Å"post-Christian† age (Lewis 6). Demoralized by the changes he saw, Lewis stated, "Until the modern era, no eminent thinker would ever presume to doubt that our value based judgments were logical and practical or that what they stated was objective. The modern perspective is quite different; and does not believe in the veracity of value judgments" (Lewis 7). In his arguments, Lewis categorically stated that there is an existing and unassailable universal moral order, and that every

Investigating Glue Essay Example for Free

Investigating Glue Essay Title To recycle the bad protein food by reproducing glue Aim Have you even thrown some food because it becomes bad? Do you think it really waste money? Do you want to make them become useful again? If you do, our experiment will show you how to do and everything about it. Apparatus: Heater, measuring cylinder à ¯Ã‚ ¿Ã‚ ½2(250ml50ml), pH paper,beakerà ¯Ã‚ ¿Ã‚ ½2(300ml500ml),glass rod, spoon Chemical: skim milk, vinegar Abstract The sticking properties of different proteins in daily food are being investigated in our experiment. Casein in dairy products and textured soy protein (TSP) in soybean products are abstracted out by precipitation in acid. The samples are then neutralized by carbonate and undergo a series of stress tests to compare the strength of our reproduced protein glues with commercial products. The basic principle of the sticking properties of protein glues is the ionic attractions and the Van der Walls attractive force generated by the protein molecules. Protein molecules are highly folded, resulting in a great contact surface area and exposure of the hydrophobic bonds. When two surfaces of substances like wood or paper are held together by protein, linkages are formed in between the molecules, and the two surfaces are stick together and are difficult to separate. We expect the result the casein in milk and textured soy protein in soybean milk have comparable sticking strength as starch contained in commercial glue. The significant advantage of the production of our protein glues is that proteins in expired food can be recycled and reused to make the useful glue. The glue produced is also not toxic or harmful to the environment. Introduction 1)The history of glue The earliest evidence of use of glue can still be observed in the cave paintings made by Neanderthal ancestors in Lascaux, France. These early artists wanted their work to last and mixed glue with the paint they used to help the colors resist the moisture of the cave walls. Egyptian artifacts unearthed in their tombs show many uses of glues; perhaps the most striking are the veneers and inlays in wood furniture, which was made using glue as early as 3,000 B.C. The Egyptians also used glue to produce papyrus. Greek and Roman artists used glues extensively; mosaic floors and tiled walls and baths are still intact after thousands of years. Around 1750, the first glue or adhesive patent was issued in Britain. The glue was made from fish. Patents were then rapidly issued for adhesives using natural rubber, animal bones, fish, starch, milk protein or casein. As we can see from ancient and medieval records, fish glue was both a common and important adhesive for many special applications; adapted by artists, it was used from the time of ancient Egypt to twentieth-century France, in painting media, coatings and grounds, in the gilding of illuminated manuscripts, and in pastel fixatives. 2)Theory of milk glue Casein is the principal protein found in cow milk (about 3%) from which it has been extracted commercially for most of the 20th century. It is responsible for the white, opaque appearance of milk in which it is combined with calcium and phosphorus as clusters of casein molecules, called micelles. The major uses of casein until the 1960s were in technical, non-food applications such as adhesives for wood, in paper coating, leather finishing and in synthetic fibers, as well as plastics for buttons, buckles etc. The first step in making acid-precipitated casein is acidification. Mineral acids or organic acids can add to the skim milk; or the milk is allowed to sour, in which case lactic acid, produced by fermentation of lactose, is the effective precipitant. The precipitated curd is then drained, washed, press to remove water, milled, drill, and ground. Solutions of casein in alkalis (with enough of the protein to give a suitable viscosity) can be used as glue. Such glue compares favorably in strength with animal glue on drying the protein forms numerous hydrogen bonds with the cellulose in paper and with itself, so it can stick woods together, but it is not water-resistant. Resistance to water can be imparted to casein glue, however, by modifying the simple formula of casein in alkali; these improved casein glues are widely useful in industry. Prepared casein glues are sold in the form of dry mixtures, which need only the addition of water before use. They are commonly composed of casein, lime, and a number of alkaline salts. Various chemicals have been used to improve the resistance to water, and many colloidal materials with adhesive properties can be mixed with casein to modify the properties of the resulting glues. It has thus been possible to adapt casein glues to a variety of specialized applications. These glues are used in the woodworking industry, in gluing paper, and in many other fields. Procedure à ¯Ã‚ ¿Ã‚ ½Preparation of milk glue 1) 250cm3 of milk and 50cm3 of vinegar (about 5% ethanoic acid) were added into a beaker. 2) The mixture was heated slowly and stirred continuously until curds were observed. (Caution: Heater is very hot, temperature of mixture should not be more than 60à ¯Ã‚ ¿Ã‚ ½C) 3) Curds were allowed to settle to the bottom for about 10 minutes. 4) The heated mixture was filtered. 5) The curds were squeezed to remove liquid. 6) The curds were washed with little volume of water and squeezed again. 7) The curds were stirred with solid sodium hydrogencarbonate (NaHCO3) gradually and monitored pH by pH paper until pH became slightly alkali. à ¯Ã‚ ¿Ã‚ ½Testing of adhere strength of glue 1) The glues were used to stick two plywood together, a the plywood at downside , with contact surface of 20 cm2 2) Two samples were made for each glue and one sample of starch glue was made as control. 3) The stack plywood was pressed by 0.8kg mass and allowed to dry at dry place for 2 days . 4) The plywood was set above the ground. 5) 0.5 kg Test mass was added gently each time until the masses drop. 6) The maximum mass of the glues that can afforded were recorded. 7) The plywood was cut into 4, which contact surface was decreased 4 times, and the above tests were repeated. Reference 1)http://classes.ansci.illinois.edu/ansc438/milkcompsynth/milkcomp_protein.html 2)http://science-in-farming.library4farming.org/Crops-Grains-Protein/PROTEINS-ARE-BASIC/Milk-Proteins.html

United States Governments False Portrayal of Marijuana :: Government Marijuana weed Drugs Essays

United States Government's False Portrayal of Marijuana Abstract I believe that the government’s handling of marijuana has been unethical because they used propaganda and lies to misinform the American population about marijuana. In my casebook, I address how the government made propaganda films and other media to misinform the American population. Some powerful evidence that I used is from the book, On the Trail of Marijuana, in this book the authors illustrate their eight stages of marijuana intoxication: Stage One: Characteristic euphoria, or feelings of unnatural well-being and lightheadedness. Stage Two: Intellectual excitation, dissociation of ideas, and exaggeration of emotion. Stage Three: Illusion in regard to time and space. Stage Four: Intense auditory sensibility, where every musical sound is distorted. Stage Five: Fixation of ideas, which are derived by the suggestibility of near-by stimuli. Stage Six: Overbalancing emotional disturbances. Stage Seven: Culmination of the sixth stage, where the overexcited and distraught subject may commit violent irresponsible acts due to irresistible impulses of suggestive origin. Stage Eight: Hallucination, varied and often terrifying. The opposing argument is supported not by opinion, but by scientific proof. There have been many studies done on the effects of marijuana, but I chose On Being Stoned because the author realized that the effects are only â€Å"potential†. Marijuana is illegal in the United States and in the past, there have been many changes in legislation regarding marijuana possession, production, and use. The knowledge of marijuana usage has been warped and twisted by the American government beginning in the early 1900s. According to the Webster’s Dictionary definitions, ethics are principles of right conduct or a system of moral values, morals are the lesson or principle contained in or taught by a fable, a story, or an event, and government is the act or process of governing, especially the control and administration of public policy in a political unit. It bothers me that neither ethics nor morals were included in the definition of government.

The Analysis of the Effectiveness of a Management Accounting Technique in an Organisational Setting- with Reference to Guinness Nigeria Plc.

Ado Ekiti University,Ado. Project on†¦. The analysis of the effectiveness of a management accounting technique in an organisational setting- With Reference to Guinness Nigeria Plc. 4988 Words TABLE OF CONTENT Title page Chapter one 1. Introduction 2. Decision-making and management accounting information 3. The concept of Budgeting and Budgetary controls 4. Budgetary control systems 5. Benefits of Budgeting and budgetary controls 6. Behavioural aspect of budgeting 7. Aims and objectives of the study 8. Reason for choosing the topic 9. Introducing Guinness Nigeria plc Chapter Two 1. Introduction 2. Population of the study and sample size 3. Methods of data collection 4. Techniques of data analysis 5. Methods adopted in gathering information Chapter Three 1. Data presentation and analysis 2. Method of data presentation 3. Research hypothesis 4. Distribution of samples 5. Sex distribution 6. Test of hypothesis Chapter Four 1. Summary 2. Findings 3. Conclusion 4. Recommendation Bibliography Appendix A-Questionnaire Appendix B-Spreadsheet CHAPTER ONE 1. 1 INTRODUCTION Accounting as a body of knowledge does not have a single definition. Various authors have come up with different definitions which reflect the period in the evolutionary stages of accounting thoughts during which the definitions was made. According to Bill R. J. Accounting is concerned with the qualification of economic events in monetary terms in order to collect, record, evaluate and communicate past events and to aid in decision making. The American Association of Accounting in 1996 defined accounting as the process of identifying, measuring and communicating economic information to permit informed judgement and decision by users of the information. (Johnson 1987) In a similar vein, Management accounting has been subject of different definitions. One of such is given by T. Lucey who defines it as the application of professional knowledge and skills in the preparation and presentation of accounting information in order to assist management in the formulation of policies and in planning and control. Management accounting is concerned with the provision of information to people saddled with the responsibility of managing the affairs of an organisation in order to assist them to make better and informed decisions and control which eventually culminates in improved efficiency and effectiveness of the overall business affairs. That has always been the focus of Management Accounting. In recent times, Management Accounting is wearing a changed nature. This is seen in the recent developments witnessed in different organisations due to the fact that organisations are making customer satisfaction an overriding priority. Others are adopting new management approaches, changing their manufacturing system into a modern system. To this end, in the last 40 years, the world of manufacturing environments have experienced dramatic changes which was as a result automation at every stage in the manufacturing processes which has changed the typical pattern of cost structures and the ways in which efficiency is achieved. It is worthy of note too that increasingly; products are highly customised and tailored to individual customer’s requirements. Many manufacturing concerns have moved from the era of mass production into the era of flexible production to customer’s specification. The Ernst & Young and Institute of Management Accountant Survey (2003) identifies various management accounting techniques, both traditional and modern which have been contributing immensely to the efficient running of organisations whether large, medium or small organisations. Those tools include Budgeting and Budgetary Controls, Break even analysis, Target costing, Benchmarking, value based management, Value chain analysis and so forth. This research will focus on Budgeting and Budgetary Control due to wide application in businesses regardless of its size. The increasing complexity of business operations and the ever changing conditions of business environment such as the economic, social, technological political development as well as Government policies, make it increasingly difficult for a company to consistently earn profit that would constitute a fair return on the capital invested. There is thus the need to employ modern management tools to improve manager’s efficiency in order to guarantee a steady return on capital invested. . 2 DECISION MAKING AND MANAGEMENT ACCOUNTING INFORMATION. Decision-making is purposeful selection from among a set of alternatives in the light of a given objective. (Oyedijo 1996) Decision-making is not a separate function of management; in fact decision making is intertwined with the other functions such as planning, co-ordinating and controlling. Chiefly among all these functi ons is planning which is described as the foremost and most basic of all management functions and the skill with which it is performed determines to a large extent the success of all operations of an organisation. In planning, managers outline the steps to be taken in moving the organisation towards its objectives. The decision making aspect of management function however ensure that best alternative is selected to achieve the objectives. Budgeting plays a vital role in planning and that has a direct bearing with the strategies to be adopted in an organisation. 1. 3 THE CONCEPT OF BUDGETING AND BUDGETARY CONTROLS A budget is a plan of action, normally expressed in financial terms. It provides a benchmark against which actual performance can be measured and therefore aids control of the organisation. In the CIMA terminology, Budget is defined as â€Å" a plan quantified in monetary terms, prepare and approved prior to a defined period of time, usually showing planned income to be generated and/or expenditure to be incurred during that period and the capital to be employed to attain a given objective†. Some common types of budget in wide use in various organisation include, Fixed Budget, Flexible Budget, Rolling /Continuous Budget and Zero Based Budget. 1. 4 THE BUDGETARY CONTROL SYSTEMS The budgetary control system usually consists of two distinct elements, which are planning and control. Planning involves the setting of various budgets for the appropriate future periods using a suitable budgeting approach. Usually management at various levels in the organisation is involved in this budgetary planning stage for their individual area of responsibilities. The control stage on the other hand involves the comparison of the plan in the form of budgets with the actual results achieved for the appropriate period. Any significant divergent or variation between the budgeted and the actual results should be reported to the appropriate management so as to initiate necessary actions. 1. BENEFITS OF BUDGETING AND BUDGETARY CONTROLS Among other benefits, budgeting if effective in an organisation will help to achieve the following: 1. It compels planning: Management of organisation is/are forced to look ahead into the future. Budgeting also gives the organisation a sense of purpose and direction. 2. It encourages co-ordination of activities: It co-ordinates the various separate aspe cts of the business by providing a master plan for the business as a whole. Though it is impossible to anticipate all decisions, the budget can provide a framework of reference within which later operating decisions can be taken. . Authorising and delegating: Adoption of budgets by management explicitly authorises the decisions made within it. This invariably serves two functions: a) The responsibility to make decisions is delegated to individual managers within the organisation. b) The need continuously to ask for top management ratification of decisions will be reduced to the nearest minimum. 4. Budgeting assists in evaluating performance: One of the functions of accounting information is that it provides basis for the measurement of managerial performance. By setting targets for each manager to achieve, the budget provides a benchmark against which his actual performance can be measured objectively. Before using budget for this purpose however, it must be accepted as reasonable by the individual budget holder whose area of responsibility it covers and whose performance is to be evaluated. 5. Discerning trends: Early detection of budgeting also enables unexpected trends because it gives specific expectation with which actual performance is continuously compered. 6. Communicating and motivating: Budgeting when applied in an organisation should lead to a good communication structure. Managers involved in the setting of budgets for their own areas of responsibility need to have agreed strategies and policies communicated to them. Similarly budgets that have been agreed by managers should provide some motivation towards their achievement. 7. Control: One important benefit of budgeting in an organisation is that it helps to control the business affairs. When the goal have been set for an organisation, the management uses the budgetary system to control the running of the business to evaluate the extent to which those goals are achieved. By a continuous comparison of actual performance with planned results deviations or variances are quickly identified and appropriate action initiated. 1. 6 BEHAVIOURAL ASPECT OF BUDGETING Much have been said and written about the benefits to be derived from a budgetary control system. However, despite the sophistication of most management accounting control techniques they have met with little success. Numerous researches have been conducted to unravel what is responsible for the low success rate and what can be done to remedy the situation. The reasons for the low level of success in practice have been attributed to lack of co-operative attitude of the operating managers to the control techniques. This usually manifest at both planning stage and implementation stage. 1. 7 AIM AND OBJECTIVE OF THE REPORT The aim of this research work is to critically assess the effectiveness of Budgeting as one of the numerous management accounting techniques being utilised in Guinness Nigeria Plc in relation to the achievement of overall organisational objectives. The research will be focussing on the extent to which Budgeting cut across the organisation as a whole and it will examine the behavioural aspect of budgeting among budget holders in the organisation. Is budgeting having direct impact on the financial and economic decisions being made by budget holders? Is budgeting in GN Plc effective in communicating the overall business goals to the managers as well as the employees of the organisation? Is budgeting as a traditional technique being utilised in GN Plc effective in giving Authorisations to budget holder in terms of spending decisions? Is it effective in motivating Managers to make decisions that will have a beneficial effect on the organisation as whole? Is budgeting effective in ensuring adequate control of the business affairs? 1. 8 REASON FOR CHOOSING THE TOPIC The topic: An analysis of the effectiveness of a management accounting technique in an organisational setting; was chosen out a burning desire to learn more about an aspect of accounting that has always been seen as core to the accountancy profession. Though there has been development in the area of budgeting and budgetary control technique, which is the focus of this report. Budgeting has generally been seen as a traditional management accounting technique. Interestingly, despite this description and some beyond budgeting models being developed lately by some scholars, budgeting is still in the widest use in all organisations even in the government corporations. Hence its effectiveness in an organisational setting has remained important to the researcher. 9. INTRODUCING GUINNESS NIGERIA PLC Guinness Nigeria Plc is a blue-chip multinational company that occupies an enviable leading position in the Brewery sector here in Nigeria. The Company is a subsidiary of Diageo a global Company, trading in over 180 markets around the world. Diageo is listed on both the London Stock Exchange (DGE) and the New York Stock Exchange (DEO). Due to its relationship with Diageo, Guinness Nigeria maintains a centralised reporting structure and that has facilitated easy rendition of monthly Accounting reports to the parent company in the UK. Guinness Nigeria is one of the renowned names in beer market in Nigeria and is a member of Food, Beverage and Tobacco Industries. The company came into Nigeria as early as the 19th century; trade had grown sufficiently by 1950s to support a trading company to handle sales and Distribution. The company’s main business is production and distribution of alcoholic and non-alcoholic beverages, which are Foreign Extra Stout, Harp Lager, Malta Guinness, Satzenbrau, Gordon Spark and the newly introduced Guinness Extra Smooth. In 1962, Ikeja Lagos was chosen as the site of the first Guinness Brewery outside Ireland and the Great Britain. His Excellency, Late Hon. Dr. Nnamdi Azikiwe, commissioned the Lagos Brewery the following year the then Gov. General and later President of Nigeria. Steady growth and market for Guinness products over the next 30 years prompted the building of three more breweries in Nigeria, which are in Ogba in Lagos, Oregbemi Estate in Benin and Osisama in Aba. The Accounting system in Guinness Nigeria has been the type that facilitates easy adoption and application of Budgeting throughout the organisation. The company uses the software called the Sun System and the Vision to assist in the business operation as a world class manufacturing company. CHAPTER TWO 2. 1 INFORMATION GATHERING This section is designed to show the process that has been used to gather information in this research. It will answer the fundamental question of how the study will be analysed in the scope of the research work. 2. 2 POPULATION OF THE STUDY AND SAMPLE SIZE Population is the universe of some groups of people or object in which researcher is interested (Asika 1991). This research work concentrate on Guinness Nigeria Plc as a case study in order to assess the effectiveness of budgeting in the organisation. Therefore the population of the study is Guinness Nigeria. Meanwhile, the sample size to be used basically will be some head of functions that are also budget holders; some top management persons as well as middle and lower level managers who are involved with the application of budgeting in the organisation. These are considered to be representative of the population. 2. 3 METHOD OF DATA COLLECTION For the purpose of the research and analysis project, two data collection methods employed. These are primary research and secondary research. Primary Research Primary data were obtained through structured personal Interview of some key employees in Guinness Nigeria Plc, Head of Functions who are also budget holders. Questionnaire was also used to elicit information from both decision enablers and the decision-makers within the Organisation. The data so gathered via this means was invaluable and it forms the basis of data analysis and presentation. Secondary Research Two different methods was used in this regard namely, Library research and Electronic research. Library Research: This has been carried out using some facilities like the public Library, ACCA study text as well as the Student Accountant magazine. This book review assisted in giving background knowledge as per the main focus of the research, which is budgeting. Other relevant data were obtained through the company’s internal materials such as the G-News, Management reports and the current annual report. Electronic Research: Business related world wide web sites were visited to have a clue as to what effectiveness of budgeting in an organisation entails. Search engines such as Google was greatly used. I also visited sites like www. nswers. com and www. ft. com. Those sites as usual provides more than necessary information which took considerable time to sort so as to be able to identify the relevant ones. 2. 4 TECHNIQUES OF DATA ANLYSIS The aim of this research is to assess the effectiveness of budgeting in GN Plc as an organisation. For these reason data gathered with the aid of the questionnaire will be analysed using simple percentage given as A% =a/nX100 Where a = Number of response to one option of items in the questionnaire. n = Total number of response to an item A%= The percentage of responses to the option to the total responses to the item. The Chi-square statistical method will also be adopted in the analysis of the research questions 5. METHOD ADOPTED IN GATHERING INFORMAITION Basically, personal Interview was used to elicit information from a number of Budget holders within the organisation. Decision-makers and enablers were also interviewed to assess the extent at which the decision of the responsible individuals within the organisation relates to the budget of every function within the organisation. Questionnaire was also utilised so as to be able to adequately analyse the information so gathered via the personal one on one interview. Questionnaire containing 15 structured questions was circulated via the mail to the respondents who are apparently top management personnel in the organisation and the questionnaire was received a week latter. CHAPTER THREE 1. DATA PRESSENTATION AND ANLYSIS. What was identified and observed in the study are here presented in clear terms using descriptive and explanatory tables and figures. Simple percentages and graphics will be used to analyse some questions, especially those requesting for personal or demographic data or information. The chi-square statistical method will be applied in analysing the research questions which will be restated in the form of hypothetical statements in order to find out whether or not the study has actually achieved its objectives mentioned in chapter one and to what extent are those objectives achieved. 3. 2 METHOD OF DATA PRESANTATION The questionnaire collected were properly edited and coded. Tables charts and percentages are used to analyse the background information of respondents as provided in the first section of the questionnaire. Primarily the hypotheses formulated were tested using the chi-square method of data analysis. The Chi-square method is a non-parametric statistical technique, which do not make rigid assumptions about the distribution of the population parameters and adopt procedures that are not generally concerned with the population parameters, hence they are also called the distribution free statistic. The decision rule states the condition under which the null hypothesis H0 or the alternative hypothesis H1 should be accepted or rejected. Where the calculated values exceed the table value (at a given significance level) null hypothesis is rejected, otherwise the alternative hypothesis is accepted. Mathematically Chi- Square is given as: ?(0? E)2 E Where X2=Chi-Square value calculated ? = Summation O=Observation E= Expected frequency at 5% SL or 95% CL Chi-square is also applicable where there are two sets of variable expressed in frequencies. It is however limited by its inability to give estimates of mean; hence it can not provide confidence interval. 3. 3 RESERCH HYPOTHESIS Based on the aforementioned aims of the study and research questions mentioned above the following research hypothesis are formulated. Hypothesis I: HO: That budgeting and budgetary controls are not effective in ensuring the achievement of organisation objectives. Q 6& Q 8 HI: That budgeting and budgetary controls are very effective in ensuring that organisation objectives are achieved. Hypothesis II HO: That budgeting is not effective in ensuring adequate control of business affairs Q 10 HI: That budgeting is very effective in ensuring adequate control of business affairs. Hypothesis III HO: That budgeting fails to give authorisation to budget holders when making decisions relating already agreed budget. HI: That budgeting gives authorisation to budget holders to make decision provided that has been agreed in the budget. 3. 4 DISTRIBUTION OF SAMPLES The population of the study has been respondent from Guinness Nigeria Plc who occupies top management positions, middle management and lowers management. However, the sample size is 40, which implies that 40 questionnaires were administered, out of which 30 were returned. Table 3. 4. 1 |No of Questionnaire | | |% Response | |Designation |Administered |Response |Refusal | | |Top Management |10 |8 |2 |27 | |Middle Management |17 |12 |5 |40 | |Lower Management |13 |10 |3 |33 | |Total |40 |30 |10 |100 | SOURCE: FIELD SURVEY 2005. RESPONDENT PROFILES Chart 3. 4. 1 INTERPRETATION The above table shows that out of the 30 questionnaire returned, which is 75% of the total questionnaire administered. Top management responses represents 27% of the total response, 40% responses was from the middle management and the remaining 33% of the respondents were lower level managers that involved in the implementation of budgets and budgetary controls. 3. 5 SEX DISTRIBUTION OF RESPONDENTS Table 3. 5. 1 |VARIABLES |RESPONDENTS |PERCENATGES | |Male |21 |70 | |Female |9 |30 | |Total |30 |100 | SOURCE: FIELD SURVEY 2005 INTERPRETATION: From the table above, the female respondents represent 30% of the responses received that shows that the male respondents are more than the female counterpart by a margin of 40%. This shows that there are more males who occupy management positions in Guinness Nigeria Plc when compared with females. 3. 6 TEST OF HYPOTESIS: This section of data analysis and presentation is arrived at testing the hypothesis formulated for the study. These are three hypothesis formulated. HO: denotes the Null hypothesis while HI: denotes the Alternative hypothesis, which is accepted once the Null hypothesis is rejected. Therefore for the purpose of this research work and for the testing of the validity of hypothesis the significant level used 5% or 0. 05. The degree of freedom ‘at’ varies I relation to analysis. The degree of freedom is the product of number of rows less one and number of column less one, and is denoted as: df = ( r-1 )(c-1) Where, r & c are number of row and column respectively HYPOTHESIS 1 HO: That budgeting and budgetary controls are not effective in ensuring that organisation objectives are achieved. HI: That budgeting and budgetary controls are effective in ensuring that organisation objectives are achieved. This hypothesis is to determine whether budgeting and budgetary controls assist in achieving organisation objectives. Question 6 & 8 was used from the questionnaire to test the hypothesis. Summary of observation is tabulated hereunder. DISTRIBUTION OF RESPONSES TO HYPOTHETICAL QUESTION 1. Table 3. 6. 1 VARIABLES | YES | NO |TOTAL | |Top management | 14 | 2 | 16 | |Middle management | 22 | 2 | 24 | |Lower management | 10 | 10 | 20 | | | 46 | 7 | 60 | SOURCE: FIELD SURVEY 2005. YES RESPONSES NO RESPONSES E1= 46 *16 E1= 14 * 16 60. = 12. 27 60 = 3. 3 E2= 46 * 24 E2= 1 4 * 24 60 = 18. 40 60 = 5. 60 E3= 46 * 20 E3= 14 * 20 60 = 15. 33 60 = 4. 67 CALCULATION OF CHI- SQUARE Table 3. 6. 2 |O |E |O – E |( O – E )2 |X2 | |14 |12. 27 |1. 73 |2. 993 |0. 244 | |20 |16. 87 |3. 13 |9. 797 |0. 81 | |10 |15. 33 |-5. 37 |28. 409 |1. 853 | |2 |3. 73 |-1. 73 |2. 993 |0. 802 | |2 |5. 13 |-3. 13 |9. 797 |1. 910 | |10 |4. 67 |5. 33 |28. 409 |6. 083 | | | | | |11. 473 | SOURCE: FIELD SURVEY 2005. From the above table the chi-square calculated is 11. 473. The degree of freedom is calculated as (r-1)(c-1) i. e. (3-1) (2-1)=2. At 5% significance level, the chi-square calculated is greater than the tabulated value, which is 5. 991 from the chi-square table (X2c>X2t) that is 11. 473>5. 991. Therefore H0: (null hypothesis) is rejected while the alternative hypothesis (H1) is accepted. In order words, the study has shown that budgeting and budgetary controls plays a vital role in the achievement of the overall objectives of the organisation. HYPOTHESIS II H0: That budgeting and budgetary controls are not effective in ensuring adequate control of business affairs. H1: That budgeting and budgetary control system plays a vital role in ensuring adequate control of business affairs. RESPONSE DISTRIBUTION OF HYPOTHETICAL QUESTION 2 Table 3. 6. 3 RESPONDENTS | RESPONSES | | | | |YES |NO |TOTAL | |Top Management |7 |1 |8 | |Middle management |11 |1 |12 | |Lower management |5 |5 |10 | |TOTAL |23 |7 |30 | CALCULATION OF EXPECTED FREQUENCY (E) FOR THE RESPONSES YES RESPONSENO RESPONSE E1= 23 X 8 = 6. 137 X 8 = 1. 87 3030 E2=23 X 12 = 9. 07 X 12 = 2. 80 3030 E3=23 X 10 = 7. 677 X 10 = 2. 33 3030 CALCULATION OF CHI SQUARE Table 3. 6. 4 |O |E |O – E |( O – E )2 |X2 = ( O – E ) 2/E | |7 |6. 13 |0. 87 |0. 757 |0. 123 | |11 |9. 20 |1. 80 |3. 24 |0. 352 | |5 |7. 67 |-2. 67 |7. 13 |0. 929 | |1 |1. 87 |-0. 87 |0. 757 |0. 05 | |1 |2. 80 |-1. 80 |3. 24 |1. 157 | |5 |2. 33 |2. 67 |7. 13 |3. 060 | | | | | |6. 027 | From the above table X2 calculated is 6. 027 Degree of freedom given as (r-1)(c-1) = (3 – 1)(2-1) = 2 DECISION RULE Question 10 was used for the above analysis. At 5% level of significant, Chi square calculated is greater than the table value of chi square (X2c > X2 t) That is 6. 027 > 5. 991. Therefore the HO: is rejected while the alternative hypothesis H1 is accepted. In other words the study confirms that budgeting and budgetary control is effective in ensuring adequate control of business affairs. HYPOTHESIS III HO: That budgeting fails to give authorisation to budget holders when making decisions relating to already agreed budgets. HI: That budgeting gives necessary authorisation to budget holder to make decisions provided that was been agreed in the budget. Question 15 in the questionnaire was used to lest the above hypothesis. The outcome of the observations made is recorded hereunder. RESPONSE DISTRIBUTION IN HYPOTHETICAL QUESTION 3. Table 3. 6. 5 VARIABLES |YES |NO |TOTAL | |TOP MGT |8 |0 |8 | |MIDDLE MGT |10 |2 |12 | |LOWER MGT |5 |5 |10 | | |23 |7 |30 | SOURCE: FIELD SURVEY 2005. CALCULATION OF EXPECTED FREQUENCY (E) FOR THE RESPONSES YES RESPONSENO RESPONSE E1 = 23 X 8 = 6. 13 7 X 8 = 1. 87 3030 E2 =23 X 12 = 9. 207 X 12 = 2. 80 3030 E3 =23 X 10 = 7. 677 X 10 = 2. 33 3030 CALCULATION OF CHI-SQUARE Table 3. 6. 6 |E |O – E |( O – E )2 |X2 = ( O – E ) 2/E | |O | | | | | |8 |6. 13 |1. 87 |3. 497 |0. 570 | |10 |9. 20 |0. 8 |0. 64 |0. 0696 | |5 |7. 67 |2. 67 |7. 123 |0. 9294 | |0 |1. 87 |-1. 87 |3. 497 |1. 870 | |2 |2. 80 |0. 8 |0. 64 |0. 229 | |5 |2. 3 |2. 67 |7. 129 |3. 060 | | | | | |6. 728 | From the table above X2 calculated is 6. 728. Degree of freedom is (r-1)(c-1), which is: (3-1)(2-1) =2 DECISION RULE At 5% significance level, chi-square calculated is greater than the tabulated value i. e. 6. 728>5. 991. Hence, the null hypothesis (H0) is rejected and the alternative hypothesis (H1) is accepted. This also establish the fact that agreed budgets give authorisations to budget holders when making decisions that borders on such budgets. The word effectiveness is a continuum and as such, despite the fact that the entire hypothesis supported the fact that budgeting and budgetary controls are effective in Gunnies Nigeria Plc. It is imperative to note that this management accounting technique is more effective is some of the departments in the organisation and less effective in others. The reason is because of the attitude of some functional heads to some of the usefulness of budgeting and budgetary controls. CHAPTER FOUR SUMMARY, FINDINGS, CONCLUSION & RECOMMENDATION The thrust of this study is to assess the effectiveness of budgeting and budgetary controls in Guinness Nigeria Plc. Budgeting though often described as a traditional management accounting technique has been in wide use in organisations regardless of its size. The report has focused on the effectiveness of budgeting and budgetary controls as a management accounting technique being applied throughout Guinness Nigeria Plc. It began with a brief description of accounting and management accounting. Review of various write-ups on the topic was carried out to establish what an effective budgeting and budgetary control system is like. The literature reviewed highlights some benefits which management hope to achieve from the adoption of good budgeting and budgetary control system, it also shows the behavioural aspect of budgeting, indicating that if not carefully applied Budgeting can lead to dysfunctional behaviour. In general, the opinion of various scholars on budgeting and budgetary control is that it plays a vital role in the management of any business. Thus having evaluated the activities of Guinness Nigeria Plc with respect to budgeting and budgetary controls system the major findings from the research are as follows: 1. The Zero based budgeting method proposed first by Peter A. Phyrr of Texas has been adopted in Guinness for all areas of activities evidently because of the benefits associated with that approach to budgeting. The adoption of Zero based budgeting method in Guinness Nigeria was as a result of the need to improve the challenge around cost since cost management has been seen as a key contributor towards achieving strategic objectives and goals in GN Plc. 2. To avoid dysfunctional behaviour often associated with budgeting and budgetary control systems. Guinness Nigeria Plc has adopted a participatory approach when establishing budget for each of the department in the organisation. Budget holders with help of accountants in the organisation are actively involved in the preparation of budget for individual manager’s area of responsibility. 3. The information system in GNPLC has been the type that facilitates easy application of budgeting and budgetary control across the business. Budget holders are periodically made aware of their positions in relation to the agreed budget in monthly basis. A report is usually generated at the end of every month comparing the actual activity level with the budget. This enable budget holder to better manage their budget holder to better manage their budgets at the same explanation is sought. 4. There is the business Risk department in Guinness Nigeria Plc. This department handles the change aspect of budgeting and budgetary control for the organisation as a whole. Uncertainty in planning is adequately taken care of by this department CONCLUSION This study has shown that budgeting and budgetary controls have being effective management accounting technique being applied in Guinness Nigeria Plc. With the help of some statistical models used in the analysis of the hypothetical statements formulated (Chi-square). The report has shown that budgeting and budgetary control is effective means of ensuring adequate control of business affairs. However budget has to be realistic if it is to motivate budget holders and discourage dysfunctional behaviour. The research has also shown that budgeting is effective in giving authorisation to budget holders when making decisions that has been agreed upon in the budget. RECOMMENDATIONS While it can be said that budgeting and budgetary control is effective in Guinness Nigeria Plc when what the management hope to achieve with it is considered, some are of the opinion that budgeting is not very effective due to the fact that some budget holders constantly overrun their budgets and without sanctions. It is therefore recommended that agreed budgets, which are realistic, should serve the purpose of good performance measure for budget holders. Excellent budget management should be applauded and inadequacies given due consideration. The organisation need to be wary of some adverse impact that too heavy a reliance on agreed budget can have on management behaviour which can be dysfunctional with regard to the objectives of the organisation as a whole. It is recommended that some beyond budgeting models identified by some scholars such as Hope and Fraser should be considered and the possibility of their adoption examined. It is also important that budget holders receive enlightenment from time to time on how to better manage their budgets. There must be a continuos revision of budgets, written statement of authorities and responsibility. There is need to effectively harmonise budget plans with the various other management accounting techniques for optimum result since budget and budgetary controls are only a means to an end and not an end in its own. It is also important that management seek for ways to match authorisation that effective budgeting hope to achieve with approval. 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