Effect of Acculturation on Consumer Behaviour

Effect of Acculturation on Consumer Behaviour Acculturation and affect of it on ethnic minorities consumer behaviour. Abstract: This paper presents what acculturation is and its impact on consumer behaviour. Acculturation represents a multifaceted and ongoing process where the continual interactions between the minority and dominant ethnic group iteratively affect cultural attitudes, behaviours and values across society. An important aspect of the acculturation process is often the need for individuals to demonstrate success in life, either to the dominant societal group or to their own ethnic group. This behaviour is consistent with consumer acculturation theories that argue that products imbued with cultural meaning are deliberately consumed by ethnic minorities to demonstrate their cultural adaptation. This is the process of acculturation. Introduction: An alternative consumer acculturation perspective is that ethnic minority individuals who demonstrate conspicuous consumption often do so in order to show their sense of rejection from the dominant society. This rejection may arise from experiences of racism often culminating in poor academic performance, inability to obtain well-paid jobs and struggles to establish a self-identity that is both recognized and valued by their own ethnic group and others. The ethnic minority persons sense of rejection may then be represented by the consumption of products that differentiates them from the dominant group and highlights their differences. A consumption act potentially reflects their perceived sense of rejection and demonstrates their inability and unwillingness to conform to the dominant societal culture. Main body : The contention is that there are variations in purchase decisions of micro cultures. It is thought that the division of subcultures will give academicians and practitioners with better and more correct data from which to understand the customers who acculturate. Research in this area will let greater and more precise intercultural comparisons. We also hypothesize that the currently identified social categories are far and too broad to prove meaningful utilization patterns or be predictive of future consumption behaviour, with the changing ethnic origin county. Dimensional nature of acculturation: To consumer researchers, acculturation is measured by some scale on various items relating to the respondents acculturation process, such as language favourite and knowledge about the host culture.   A respondents scores on all items are then put together (or further averaged) to yield a single score of the respondents acculturation level.   This practice assumes acculturation to be one-dimensional and therefore can be expressed by a single score.   However, research in psychology and sociology has shown that acculturation is a more compound multidimensional idea. A noticeable study from the above is that different researchers have proposed different structures for the acculturation. Some look at only behavioural, some use purely attitudinal elements, yet others join both behavioural and attitudinal elements in the structure. Although these structures differ from each other, they all state that acculturation is a one-dimensional form, but a multidimensional construct.   Therefore, when a researcher declares level of acculturation with a single score, the result may be prejudiced and may not reflect the real influence of the different aspects of acculturation. Way acculturation can influence consumer behaviour is through the maintenance and change of the acculturating individuals self-identity.   The acculturation process obviously has a significant impact on the individuals self.   It is main for the individual to get used to the changes while at the same time maintain an incorporated self.   The conflict between change and continuity in the acculturation process is reflected in the products the customer consumes and the way consumption takes place. Ecological factors and individual characteristics also play a vital role in the acculturation process and in the connection between acculturation and consumer behaviour. Acculturation and Consumer Behaviour One central way to differentiate between members of a subculture is to think the degree to which they keep a sense of identifying with their home country vs. their host country. â€Å"Acculturation refers to the process of progress and alteration to one countrys cultural environment by an individual from another country† (Blackwell, Miniard and Engel, 2007). The nature of this change process is affected by many aspects. Personal differences, such as whether the person speaks the host country language. The persons contacts with acculturation causes people and establishments that educate the ways of a culture are also crucial. Some of these agents are united with the culture of origin (in Sevgis case, Turkey). These factors include family, friends, the mosque, local businesses and Turkish-language; media that keep the shopper in touch with his or her land of origin. Other agents are linked with the culture of migration (in this case, the Netherlands), and help the consumer to learn how to pilot in the new surroundings. These comprise state schools and Dutch-language media. As immigrants become accustomed to their new surroundings, some processes come into work. Movement refers to the things appealing people to pull up themselves physically from one location and move to another. Although many ethnic members all over Europe are second generation (born in the country where they live), their parents are more probable to have been the first to arrive in the new country. On arrival, settlers come across a need for transformation. This means attempting to master a set of rules for functioning in the new situation, whether learning how to interpret a different currency or understanding the social meanings of strange clothing styles. This cultural knowledge directs to a process of adaptation, where new consumption patterns are formed. As clients experience acculturation, several things happen. Many immigrants suffer (at least to some extent) assimilation, where t hey agree to products that are recognised with the mainstream culture. At the same time, there is an effort at maintaining of practices related with the culture of origin. Immigrants stay in touch with people in their country, and many go on to eat ethnic foods and read ethnic news-papers. Their continued credentials with their home culture may cause conflict, as they hate the pressure to plunge their identities and receive on new roles. These processes show that ethnicity is a flowing concept, and that the borders of a subculture are continuously being recreated (Laroche et al. 1998 as cited in Palumbo and Teich, 2004). An ethnic pluralism perspective argues that ethnic groups diverge from the mainstream in shifting degrees, and that adaptation to the dominant society occurs selectively. Research facts argue against the view that assimilation essentially entails losing identification with the persons original ethnic group. For example, Sevgi feels relaxing in conveying her ‘T urkishness in a variety of consumption associated ways: the magazines she buys, the TV programmes on the Turkish network she wishes to watch, her selection of ethnically suitable gifts for events such as weddings and bayram(religious holidays).   Otherwise, she has no problems at all in communicating consumption behaviours of the mainstream culture she loves eating drop (Dutch liquorice), buys ‘Western music and has her favourite clothing for going out to the theatre and clubs. The researchers argue that the best pointer of ethnic assimilation is the scope to which members of an ethnic group have social exchanges with members of other groups in comparison with their own. A consumers way of life refers to the ways he or she decides to spend time and money and how his or her values, attitudes and tastes are reproduced by spending choices. Lifestyle research is helpful to track societal consumption preferences and also to place specific products and services to different sections.   Marketers segment by lifestyle distinctions, often by grouping consumers in terms of their AIOs (activities, interests and opinions). Psychographic techniques try to categorize consumers in terms of psychological, subjective variables in addition to visible features (demographics). A variety of systems, such as RISC, have been developed to identify consumer kind and to distinguish them in terms of their brand or product liking, media usage, leisure time manners, and attitudes towards such broad topics   as politics and religion. Interconnected sets of products and activities are associated with public roles to form consumption gathering. People frequently purchase a product or service because it is associated with a group which, in turn, is linked to a lifestyle they find attractive. Where one comes from is often a significant determinant of lifestyle. Many marketers identify national or regional diversity in product preferences, and develop different editions of their products for different markets. Because a consumers culture exercises such a huge influence on his or her lifestyle choices, marketers must learn as much as possible about differences in cultural rules and preferences when marketing in more than one nation. One important issue is the level to which marketing strategies must be customized to each culture, rather than standardized across cultures. A set of techniques called geo-demography investigates consumption models using geo-graphical and demographic data, and identifies bunch of consumers who exhibit similar psychographic characteristics. Consumers identify with many groups that share general qualities and identities. These large groups that live within a society are called subcultures, and membership in them often gives marketers a important clue about individuals consumption decisions. A large constituent of a persons identity is defined by his or her ethnic origins, racial identity and religious background. The growing numbers of people who argue multi-ethnic back-grounds are starting to blot the traditional peculiarities drawn among these subcultures. Recently, several minority groups have trapped the interest of marketers as their financial power has grown. Segmenting consumers by their ethnicity can be of use, but care must be taken not to depend upon inaccurate ethnic typecasts. Because a consumers culture exerts such a major control on his or her lifestyle options, marketers must discover as much as possible about differences in cultural standards and preferences when marketing in more than one country. The appearance of immigrants as a new market opportunity has discussions of immigrants consumption behaviour by both practitioners and academic researchers.   Studying the immigrants acculturation process and their consumption nature present us both a better view of this specific segment and a better understanding of the cultural dynamics fundamental consumer behaviour. Study of acculturating customers can offer us insight into immigrants consumer behaviour and consumer behaviour in common.   With more research undertaken, it can be expected to see extended knowledge of acculturating individuals consumption experience and a more complete understanding of consumers.   The model suggests two paths through which acculturation can influence consumer behaviour.   One is through consumer re-socialization. The other is through the individuals self- management when faced with remarkable changes in the self regularly characteristic of the acculturation process.   Environmental facto rs and individual demographic, socioeconomic, and psychological characteristics can influence both paths and therefore temperate the relationship between acculturation and consumer behaviour. Several orders for future research can be immediately seen.   First, most research has seen acculturation as a one-dimensional construct.   Future research should recognize the fact that individuals accepting the new culture do not necessarily throw away their original cultures.   They can adopt a variety of acculturation strategies including separation and integration.   Psychologists and sociologists have developed multidimensional methods of acculturation that can be adapted to consumer research.   Consumer researchers can also incorporate measures of assimilation and measures of ethnic identification to form a two-dimensional measure of acculturation.   Both construction and corroboration of acculturation measures fitting for consumer research are needed. Second, consumer researchers can study acculturating individuals consumption experience from consumer socialisation outlook.   Some research has been undertaken in this direction.   Penaloza (1989) projected a mo del of consumer acculturation based on consumer socialization.   There are also studies on acculturating individuals information probing behaviour and their dealings with socialization agents such as mass media (DRozario and Douglas 1999; Lee 1989).   More research is needs that study the influence of other socialization agents such as peers and institutions on an acculturating individual and how he or she interacts with them.  Ã‚   Studies on mass media can also be approved further to learn acculturating individuals media use pattern and how different patterns show the way to different consumption related awareness, approaches and values. Thirdly, how acculturating individuals supervise their self-concept during the acculturating process and how different management strategies are toughened and mirrored in the individuals consumption need to be looked at.   Consumer researchers have apprehended the impact of self-concept in consumption and have argued that belongings are part of an individuals extended self (Belk 1988).   These concepts can be applied to acculturating individuals to find out how dynamics of the self are coupled with consumer behaviour. Lastly consumer researchers should put together more hard work to study how an individuals demographic, socioeconomic and psychological characteristics can influence his or her acculturation process and consumption.   Researchers should go ahead of measuring these variables only for testing external strength, but should also study these variables themselves as they may have important suggestions on how acculturating consumers learn and consume.   Efforts should especially be made to identify variables applicable to consumer research and to establish measures of these variables.   Numerical tests can also be done to test these variables reasonable effects and their indirect effects on consumer behaviour. Conclusion: Consumer acculturation can be studied on the base of consumers socialisation. Ethnic identification and level of assimilation are often used to individuals within these minority groups. Acculturation affects consumer behaviour according to both assimilation and unique behavioural model showing the acculturating individuals in their eagerness to adjust to the culture of residence, may develop different social perceptions and behaviour patterns. The paper has attempted to determine the various aspects of acculturation in relation to different ethnic minorities.   Reference Barnett, H. G., Bernard. J. Siegel, Evon Z. Vogt, James B. Watson. 1954. Acculturation: An Exploratory Formulation From the Social Science Research Council Summer Seminar on Acculturation, 1953. Blackwell, Miniard, Engel, (2007) Consumer Behaviour, Tenth Edition, Thomson South-Western. Palumbo and Teich (2004) â€Å"Market segmentation based on level of acculturation†, Journal of Marketing Intelligence and Planning, Vol: 22, Issue: 4, pp. 472-84.   Jamal (1996) â€Å"Acculturation: the symbolism of ethnic eating among contemporary British consumers†, British Food Journal. Solomon et al, (2008) â€Å"Consumer Behaviour: A European Perspective†, Third edition, Pearson publications, U.K

Relationship Between International Law And Municipal Law

To know the relationship between International law and Municipal law, it is important to know what these to laws are. International law is the rules and conducts which deals with the conduct of states. To put into simpler terms, the international law is a set of rules in which the countries use in dealing with each other. The Municipal law is the internal law of the land. There are different theories that distinguish the difference of the two laws. The dualists or the pluralist theory states that international law and municipal law are different with each other in terms of their source, the relations they regulate, and their substance.Both of the laws differ in source because the international law came from treaties and customs grown among states while the municipal law is a product of local or domestic custom. They differ in the relations they regulate. How? The international law regulates the relationship of states with one another and is concerned with the external and foreign aff airs of the state while the municipal law regulates the relationship of individuals under the state and is concerned with the domestic affairs of the state. They also differ in their substance.The international law is a law between sovereign states while municipal law is the law of the sovereign over the individuals in the state. In this theory when a conflict arises as to whether what law should be used in dealing with an issue, the municipal law prevails. The dualists are positivists that biases greatly on state sovereignty. Next theory is the monistic theory or monism. In this theory, the international law and the municipal or domestic law are under one system of law. But there are two monistic theories that states what law should be used in settling disputes or the likes.One monistic theory has a stand that international law is superior to municipal law which is supported by Kelsen. It holds that international law is superior to municipal law because monistic theorists believe t hat international law can instill domestic order. Kelsen also believes that the international law encompasses every aspect of human life. Monistic theorists also see international law as a collective outcome of different local sovereigns. The other monistic theory believes that municipal law is superior to the international law

10 Herbal Medicine

The  Philippine Department of Health (DOH)  has endorsed ten (10) medicinal plants to be used as herbal medicine in Philippines due to its beneficial effects. These herbal medicines have underwent clinical studies through the Philippine Department of Health's  Ã¢â‚¬Å"Traditional Health Program†Ã‚  to offer as alternative to conventioanl medicines. Below is the list of these medicinal plants: 1. Akapulko (Cassia alata)  Common names include â€Å"bayabas-bayabasan† in tagalog, â€Å"ringworm bush or schrub† and â€Å"acapulco† in English, this Philippine herbal medicine is used to treat tinea infections, insect bites, ringworms, eczema, scabies and itchiness. . Ampalaya (Momordica charantia)  Common names include â€Å"bitter melon † or â€Å"bitter gourd † in English. This Philippine herbal medicine has been found to be effective in the treatment of diabetes (diabetes mellitus), hemofrhoids, coughs, burns and scalds, and being studie d for anti-cancer properties. 3. Bawang (Allium sativum)  Common name in english is â€Å"Garlic†. Bawang is a used in Philippine herbal medicine to treat infection with antibacterial, antiinflammatory, anti-cancer and anti-hypertensive properties. It is widely used to reduce cholesterol level in blood. . Bayabas (Psidium guajava)  Ã¢â‚¬â€œ â€Å"Guava† in English. A Philippine herbal medicine used as antiseptic, anti-inflammatory, anti-spasmodic, antioxidant hepatoprotective, anti-allergy, antimicrobial, anti-plasmodial, anti-cough, antidiabetic, and antigenotoxic in folkloric medicine. 5. Lagundi (Vitex negundo)  Ã¢â‚¬â€œ known as â€Å"5-leaved chaste tree† in english is used in Philippine herbal medicine to treat  cough, colds and fever. It is also used as a relief for asthma & pharyngitis, rheumatism, dyspepsia, boils, and diarrhea. 6. Niyog-niyogan (Quisqualis indica L.   Ã¢â‚¬â€œ is a vine known as â€Å"Chinese honey suckle†. This Philip pine herbal medicine is used to eliminate intestinal parasites. 7. Sambong (Blumea balsamifera)- English name: â€Å"Ngai camphor or Blumea camphor† is a Philippine herbal medicine used to treat  kidney stones, wounds and cuts, rheumatism, anti-diarrhea, anti spasms, colds and coughs and hypertension 8. Tsaang Gubat (Ehretia microphylla Lam. )  Ã¢â‚¬â€œ English :†Wild tea† is a Philippine herbal medicine taken as tea to treat skin allergies including eczema, scabies and itchiness wounds in child birth 9. Ulasimang Bato | Pansit-Pansitan  (Peperomia pellucida) is a Phillipine herbal medicine known for its effectivity in treating arthritis and gout. 10. Yerba Buena  (Clinopodium douglasii)  Ã¢â‚¬â€œ commonly known as Peppermint, is used in Philippine herbal medicine as analgesic to relive body aches and pain due to rheumatism and gout. It is also used to treat coughs, colds and insect bites Types Of Herbal Medicine Medicinal plants can be used by anyone, for example as part of a salad, an herbal tea or supplement. Many herbalists, both professional and amateur, often grow or wildcraft their own herbs. Making your own herbal medicine preparation is not only fun, but can be cost-effective. In using the above mentioned herbal medicines, some may require some degree of skill, you have to use your own judgement if you decide to use one. Below is a list of general ways on how to prepare your own herbal medicine. The list is not all inclusive and you have to see individual articles for the herb you use so that you will know how to prepare them. Herbal Teas There are two methods of making herbal teas, infusion and decoction. Infusion is steeping lighter parts of the plant (leaves, flowers, light stems) in boiled water for several minutes. Decoction is boiling tougher parts, such as roots or bark for a longer period of time. Herbal teas are often used as a home remedy, and as an alternative to tea and coffee. As a general rule unless recommended by a herbalist, Prepare 1 teaspoon of dried herb for every 1 cup of water. Let it steep in boiling water for 10 to 20 minutes. Strain the herbs out and drink 3 to 4 times a day. Herbal Tinctures Steeping a medicinal plant in alcohol extracts the alcohol-soluble principles into a liquid form that can be stored for long periods. Herbalists may mix several herbal tinctures to form an individualized prescription for each patient. Plant tinctures are also the basis for many homeopathic medicines. To prepare your herbal tincture you will need: 8 ounces of finely cut dried herbs, 1 large glass jar that can hold 4 cups of liquid 2 cups of vodka Instructions: Put the dried herb into a large, glass jar and pour in equal amount of liquid, making sure the herbs are completely covered (this is very important). Store the jar in a cool, dark place for at least two weeks, preferably 4. Make sure to shake the mixture every day. When ready to use, filter the mixture using a cheesecloth bag, coffee filter, or fine cloth, capturing the tincture liquid below in another container. Store the tincture in clean, dark glass containers, out of the sun. If stored properly the tincture will be preserved for two or more years. Vinegar tinctures should be refrigerated. Note: A drop of tincture is equal to 1 tsp of herb juice. For Vinegar Tinctures, use 1 ounce of herb per 5 ounces of vinegar. Fluid Extracts Fluid extracts are stronger than herbal tinctures, and can be made with alcohol or glycerin. Herbal Poultices Poultices are a solid, vegetable fat based mixture used externally. They have the shortest life span of any herbal remedy and must be made fresh for every use. Powdered Herbs And Tablets Herbs that are dried and (sometimes) certain parts are separated out then diced to powder fine consistency. Powered matter can then be compressed or put in an empty pill coating to form a tablet Herbal Creams And Ointments An ointment usually is mixed with beeswax (or something similar) to make it more applicable to outside the body, such as on a cut or scrape. Essential Oils Extraction of volatile liquid plant materials and other aromatic compounds from plants gives essential oils. These plant oils may be used internally in some forms of herbal medicine as well as in aromatherapy and generally for their perfume, although their medicinal use as a natural treatment (alternative medicine) has proved highly efficacious in the treatment of headache and muscle pain, joint pain and certain skin diseases Herbal Supplements Herbal supplements tend to be commercial products in tablet or capsule form manufactured and marketed by the health food industry for sale in retail outlets to the general public, although there are some types that are sold only to healthcare practitioners for prescription. Herbal supplements are often standardized to contain stated levels of active phytochemicals. Some herbalists may not agree with the standardization of active ingredients, preferring instead to use the whole plant.

Star Death Leads to Cosmic Enrichment

Gun, Hunting, And Personal Defense - 1024 Words

Putting rounds down range every time you pull the trigger on your firearm is very important, whether for target shooting, hunting, or personal defense. Equally important to putting rounds down range is the proper maintenance of your firearm. There are many types of firearms in today’s world with some that are more complicated than others in their operation and maintenance. One of the easier firearms to maintain is the Armalite Rifle, Model 15, otherwise known as the AR-15. The basic disassembly, or field striping, of the AR-15, is universal regardless of who the manufacture is or how the gas system is set up. You will only need a clear work surface, a beach towel or similar item, and a number 2 punch to complete the disassembly process.†¦show more content†¦Place your towel flat on your work surface before proceeding (this is to help prevent oil, grease, powder residue, and your firearm from damaging the work surface). The first step in disassembly after making the we apon clear and safe is to separate the upper receiver group from the lower receiver group. Locate the takedown pin, which is located just above the safety, and the pivot pin, which is located at the front of the lower receiver. With your number 2 punch depress the takedown pin from the left side. You should feel a noticeable click when the takedown pin overcomes the force of the takedown pin detent. Repeat for the pivot pin, being careful not to push the pin all the way through the receiver. The takedown pin and pivot pins should now be partially extended on the right side of the lower receiver. Lay the firearm on its left side so it lies flat on your work surface. Grasp the takedown pin from the right side and pull till it fully extends out the right side of the receiver. Again, you should feel a noticeable click when the detent pin engages the takedown pin at the fully extended position. 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Problem Solving And Decision Making - 3730 Words

Problem solving Decision making in Industrial Management Table of content Content page no Abstract Introduction Problem solving Problem solving framework †¢ Problem identification †¢ Problem verification †¢ Problem definition Root cause analysis Aalternative generation Evaluation of alternatives Implementation Post-implementation review Institutionalization and control Decision making Steps involve in decision making Example of problem solving Conclusion References Abstract: Today, problem solving is no longer an exclusive responsibility of those occupying the executive Suite. As new and complex business challenges become further, everyone in the organization isaccountable of solving workplace problems. Problem solving and decision making in an organization contain many elements. Effective problem solvers identify the value of structurally controlled problem-solving methods to promote discipline and increase the chance for achievement. Problems must initially be defined before an investigation of the causes can begin. This paper mainly describes the importance of problem solving and decision making for an organization and how to resolve them. It also discusses about steps in problem solving and decision making, nature of difficulties in modern work places, developing and estimating alternative solutions. Introduction: Problem solving and decision-making are important skills for any company.Show MoreRelatedProblem Solving And Decision Making1492 Words   |  6 Pages602: Problem Solving and Decision Making Assessment 1 PART A. Section I. Question 1. Information that Luke needs: Train schedule Weather Knowledge of the meeting place Conflict in using the bathroom (if sharing with someone else in a flat) Possible delays like traffic caused by road constructions or accidents 1.1. A problem is a question or situation looking for a concept or a solution. 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Entrepreneurship of Woolworths Ltd

Question: Discuss about theEntrepreneurship of Woolworths Ltd. Answer: Introduction: This assignment consists of analyzing the different principles and concepts related to Entrepreneurship. The researcher has chosen Woolworths Limited to conduct this report. The assessment includes acquiring the business of Woolworths Ltd and providing adequate leadership qualities to sustain it. The concepts of entrepreneurship and the role of entrepreneur in setting up an organization are concluded in this report respectively (Drucker 2014). Entrepreneurship is the art of setting up an organization individually rather than working for someone else. A successful entrepreneur is an individual who is able to bear the risk of starting a new venture. An Entrepreneur takes all the decisions of the organization; he/she is responsible for all the risk associated with the business (Drucker 2014). An entrepreneur is typically a Sole Proprietor, an active Partner and the person who generally holds most number of shares in a business venture. To become a successful entrepreneur a person needs to have these qualities such as ample amount of confidence, open minded in nature, competitive personality, creativity in work, strong determination, and ability to handle pressure, strong work ethic and passion for business (Grimes et al. 2013). To start a new business these qualities are necessary to be performed simultaneously to provide efficiency and increasing the growth of the business. In this assessment, the researcher has acquired Woo lworths Ltd business and provided adequate solutions to develop it by using strong entrepreneurship skills and concepts (Grimes et al. 2013). Industry Description: Woolworths Ltd is a major retail company of Australia; the company consists of huge revenue and profit growth. In this report, the researcher has selected the retail industry of Australia because the retail industry has great diversification such as the size of business is large, healthy amount of competition in the market and huge opportunities prevailing in the market towards growth an expansion (Drucker 2014). Retailers do not only sell goods to their customer but also assists them in buying and suggesting new product offerings. The diversification of retail industry is huge such as large departmental stores. Woolworths is one of the strong brands of supermarkets in Australia and by acquiring it, the researcher will be able to gain most of the market share in Australia. The primary market will consist of the domestic market of Australia and it surroundings states. The retail industry consists of selling consumer goods and services to various customer through numerous logistical ch annels (Frese and Gielnik 2014). Necessities in Becoming an Entrepreneur: There are very few people in the world that may really become a successful Entrepreneur but if a person has the passion of becoming one, he/she can achieve it effectively (Carland and Carland 2015). There are various reasons why a person should become an entrepreneur and they are as follows: Huge Opportunity: When a person works in an office, he/she has to work for 8-9 long hours and the person has to follow the same routine everyday and have to work under a boss. However, in the case of entrepreneurship there is a large opportunity of doing work on own freedom and taking all the decisions by himself. In this case, of entrepreneurs time is not the factor it is all about the motivation towards setting up an organization (Carland and Carland 2015). Autonomy: There is huge scope of independence in Entrepreneurship that generally lacks in official jobs. The corporate culture is very dissatisfying and it is very difficult to sustain it in the end. Whereas by acquiring Woolworths retail chain, it will be beneficial in creating a huge growth in the market and being an entrepreneur there are high scope of developing the business as it is facing severe competition (Gupta, Chiles and McMullen 2016). Responsibility towards Society: One of the major qualities of an entrepreneur is the measure he/she takes towards developing and sustaining the society. Not only the macro level but also initiating efficiency in the micro level of the business environment (Gupta, Chiles and McMullen 2016). However, the reason behind acquisition of Woolworths Ltd is to develop the industry and provide maximum customer satisfaction with increasing level of services to them. Huge Profit Possibilities: The main objective of being a successful entrepreneur is to increase the earning potential of an individual. In a corporate job, the earning potential is restricted; a person may receive promotions and hike in the salary but in the case of entrepreneurship the possibility to earn huge profits are available by venturing in the right business and efficiency in the business operations (Frese and Gielnik 2014). Control: The main objective behind becoming an entrepreneur is the essence of security, which is resulting from being able to control the work. By acquiring Woolworths Ltd, the entrepreneur will be able to control the outcome of the business, take appropriate decision regarding the structure of the organization and provide adequate measure to tackle all the business risks (Frese and Gielnik 2014). Innovation: Entrepreneurs are known as innovators as they often produce new products and services in the society. Innovation is an art, which is performed by successful entrepreneur in creating outstanding product differentiation and provides competitive advantage in the market. Woolworths Ltd is a good brand of supermarket retail organization but there are few drawbacks as there is a lack of effective services in the organization. Therefore, by purchasing it and with proper entrepreneurship qualities and innovation of products and service Woolworths market worth will be increased (Weaver et al. 2012). Corporate Culture: By becoming an Entrepreneur, an individual is able to create its own corporate culture according to his/her beliefs and character. The development of good working environment is solely depended in the hands of the Entrepreneur. With the acquisition of Woolworths Ltd, the entrepreneur will create a new corporate culture and new policies and procedures to regulate the organization more effectively and provide employee satisfaction (Weaver et al. 2012). Legacy: The entrepreneur is always responsible for making a brand famous and with proper brand image and goodwill of the brand creates an appealing legacy for the innovator. The use of effective technology and internet there is a big possibility of growing the market of Woolworths Ltd in Australia, and with proper leadership qualities of the entrepreneur the business will have a great impact on the coming generation and sound legacy of the firm (Carland et al. 2015). Urging of Passion: Entrepreneurship is all about fulfilling individual passion. For example, a corporate worker he/she does the type of work that the company offers them to do but in the case of entrepreneurship, an individual can choose the field of their choice and pursue their goals simultaneously. Entrepreneurship leads towards promotion of creative thinking and provide an individual to accomplish his/her goals effectively (Bailey et al. 2015). Analysis Based Consideration of the Positioning of Products Services in the market: Positioning of products and services consideration solely rely on the potential of the product and the services in the market (Arli et al. 2013). Woolworths has emerged out as one of the biggest retailers in the Australian market, which is occupying a dominant position in the market with retail stores comprising of grocery items, liquor, petrol, general goods, consumer electronics etc. Since its incorporation in 1924, Woolworths is continually growing as a giant brand (Bailey et al. 2015). The Company has 3,000 stores approximately with 965 supermarkets in Australia and New Zealand. The kind of dominance, which the Woolworths have in the Australian market, it has the potential to bring cheers on those faces who wish to acquire the Company to achieve the entrepreneurship (Keith 2012). The Company conducts its business through five business divisions. Retail liquor outlets and petrol outlets, the supermarket division, general merchandise division, which operates through BIG W discount stores, hotels division, which encompasses on liquor sales (Mialon et al. 2016). It operates as the parent company of The Warehouse Group Limited, which is one of the largest department stores in Australia (Wang 2015). In recent time, there is a slight fall in the market share of the Company whereas Aldis market share is on a rise (Mialon et al. 2016). As per a new research conducted by Roy Morgan, the market share of Woolworths has fallen to 37.3%, while the market share of Aldis is on a rise and has risen to 12.1%. However, Woolworths continuously enjoying their lion share in the market, customers thronging to Aldis have increased (Keith 2012). The story clearly tells that Woolworths is struggling to maintain the same dominance in Australia in course of achieving a high market profit, it lost on the budgetary part of products. Moreover, this is where it has given an uncalculated space to its rivals such as Aldi, Coles and Costco. Woolworths is struggling to compete against Coles, as the purchase rate is being challenged (Mialon et al. 2016). The analysis of the market picture makes it clear that to successfully resourcing of the business, it demands a proper market study (Mialon et al. 2016). The dominance is challenged but is alive and that gives the learner, a sufficient space to prosper, riding on the success of the Company. The products and the business need no introduction, only the proper coping with the customers requirement is sufficient (Smallbusiness.chron.com, 2016). Business Resourcing Options: Business resourcing is a method by which an enterprise or business is undertaken to achieve a preferred outcome. There could be various options to resource a business by acquiring a giant leader such as Woolworths. These resources help in further flourishing of the existing relationships with all the stakeholders expectations (Bailey et al. 2015). Moreover, a business resourcing options include the followings that help in successfully relaunching of the business in the market with the acquired brand (Smallbusiness.chron.com, 2016). Financial Resources: The most important of all to start a business is the availability of the sufficient funding. The acquiring of such a giant business leader Woolworths and then implementing the entrepreneurship principles is a long process and needs a proper care with the funding (Bailey et al. 2015). To overcome the current loophole in Woolworths, Which are responsible for a continuous share fall, require proper analyzing of the market then doing correct market promotion. Market promotional events incur a huge amount, it goes on piling once the requirement, and the expectations of customers are identified (Bailey et al. 2015). Human Resources: The success of a business depends highly on its quality employees, which can use their expertise to their potential to resurrect some of the lost plot of Woolworths with different identification brought by some other company acquiring the Woolworths business (Bailey et al. 2015). These human resources have the responsibility to identify the sheer class employee and then select those once the eligibility criteria meet. A bunch of experienced employees those have innovative thoughts and love experimenting with their ideas needs their employment in the company (Motley Fool Australia, 2016). There can be various ways to hire new employees and this includes direct walk-in or a referral process, which include the participation of the existing employees (Bailey et al. 2015). Moreover, those existing employees whose judgments are respected need to participate in the referral process. Physical Resources: Physical resources are all tangible resources of the company that includes manufacturing equipment and official machineries. It also includes land, labour and people. Physical resources are also very important for an entrepreneur to launch the business after acquiring a giant leader such as Woolworths. The expansion of the business after acquiring a business requires huge marketing stuffs such as marketing materials for the market promotion (Bailey et al. 2015). Educational Resources: Educational resources consist of gathering proper knowledge about the market and competitors before entering into the market. Education is probably the best, which can help an entrepreneur to launch its business after acquiring the business of a giant leader such as Woolworths (Bailey et al. 2015). An entrepreneur needs to have a proper analysis of the market and the requirement of customers, what other has missed on this (Budisantoso, Wickramasinghe and Teoh 2014). Woolworths is still a giant leader but a continuous drop in the market share has attracted the learner to acquire its business and promote this with new added features. Emotional Resources: Starting up an acquired business requires a bunch of such people who can stand by the management and fill them with inspirations in a situation when they are demoralized (Bailey et al. 2015). A time comes when things do not turn up to the expectations, people tend to lose hope and get nervous. However, a good entrepreneur has all the capabilities to overcome the situation but still, it is a human instinct, which require someone to console and motivate for the challenge (Bailey et al. 2015). Launching some newly, added concepts with the existing concepts of the Company require serious patience from the entrepreneur to stay undetected in any sort of situation. Recommendation: The first point of recommendation revolves around the proper study of the market. It consists of customers requirement and the current market shares of the competitors. Proper analysis of the market competition and the point of attraction in its competitors for the customers need a broader study. The second point of attraction is about proper handling of the employees to give it a dimensional move. Moreover, successful entrepreneurs do possess this quality and utilizes this to the fullest of benefit. The third point of attraction speaks about the flexibility as it holds a significant importance with this. Woolworths for an example continually focused on their profit margin and did not compromise with the customers requirement. It is because of the fact that the Woolworths faced strong challenge from the comparatively cheap product manufacturer company Costco. Conclusion: Entrepreneurship is all about starting something new and achieving success in them. In this assignment, the researcher has acquired the business of Woolworths Ltd and provided adequate entrepreneurship concept to improve its operations. Launching a new concept by acquiring an existing business of the likes of Woolworths who have already dominated the Australian market require an extensive study of the market. Woolworths are still the dominant company in the Australian market with maximum market share but a continuous drop has put them in a significant defiance from the customers. Loyal ship is no longer a universal concept when it asks customers to make selection on their brand choices to which they have strong faith. Moreover, brands that meet with the customers requirement eventually come out as the dominant character in the market. Increasing customer base of Costco and Aldi in recent time, significantly prove the role of customers requirement in deciding the fate of a brand in th e market. An entrepreneur has all the basic instincts inbuilt in it to take over a brand and then relaunch this in the market with some added features to catch the present trend of the market. Flexibility is the most important key of an entrepreneur, which constructs its story of success in the market. With the help of proper entrepreneur qualities, an individual can provide success towards it business venture and lead to customer satisfaction. References: Arli, V., Dylke, S., Burgess, R., Campus, R. and Soldo, E., 2013. Woolworths Australia and Walmart US: Best practices in supply chain collaboration. Journal of Economics, Business, and Accountancy| Ventura, 16(1), pp.27-46. Bailey, J., Price, R., Pyman, A. and Parker, J., 2015. Union power in retail: contrasting cases in Australia and New Zealand. New Zealand Journal of Employment Relations (Online), 40(1), p.1. Bridge, S. and O'Neill, K., 2012.Understanding enterprise: entrepreneurship and small business. Palgrave Macmillan. Budisantoso, T., Wickramasinghe, A. and Teoh, T.T., 2014. Entrepreneurialism in discovering the role of inspiring shopping motivation in Australia and Indonesia. International Journal of Process Management and Benchmarking, 4(3), pp.247-261. Cajaiba-Santana, G., 2014. Social innovation: Moving the field forward. A conceptual framework.Technological Forecasting and Social Change,82, pp.42-51. Carland, J.C., Carland, J.W. and Stewart, W.H., 2015. Seeing what's not there: The enigma of entrepreneurship.Journal of small business strategy,7(1), pp.1-20. Carland, J.W. and Carland, J.C., 2015. A model of potential entrepreneurship: Profiles and educational implications.Journal of Small Business Strategy,8(1), pp.1-14. Drucker, P., 2014.Innovation and entrepreneurship. Routledge. Frese, M. and Gielnik, M.M., 2014. The psychology of entrepreneurship.Annu. Rev. Organ. Psychol. Organ. Behav.,1(1), pp.413-438. Gedajlovic, E., Honig, B., Moore, C.B., Payne, G.T. and Wright, M., 2013. Social capital and entrepreneurship: A schema and research agenda.Entrepreneurship Theory and Practice,37(3), pp.455-478. Grimes, M.G., McMullen, J.S., Vogus, T.J. and Miller, T.L., 2013. Studying the origins of social entrepreneurship: compassion and the role of embedded agency.Academy of management review,38(3), pp.460-463. Gupta, V.K., Chiles, T.H. and McMullen, J.S., 2016. A process perspective on evaluating and conducting effectual entrepreneurship research.Academy of Management Review,41(3), pp.540-544. Keith, S., 2012. Coles, Woolworths and the local. Locale: The Australasian-Pacific Journal of Regional Food Studies, 2, pp.47-81. Kuratko, D.F., 2016.Entrepreneurship: Theory, process, and practice. Cengage Learning. Mialon, M., Swinburn, B., Allender, S. and Sacks, G., 2016. Systematic examination of publicly-available information reveals the diverse and extensive corporate political activity of the food industry in Australia. BMC public health, 16(1), p.1. Motley Fool Australia. (2016). ALDI is stealing market share from Woolworths Limited. [online] Available at: https://www.fool.com.au/2016/04/15/aldi-is-stealing-market-share-from-woolworths-limited/ [Accessed 31 Dec. 2016]. Putta, S.S., 2014. Improving Entrepreneur's Management Skills through Entrepreneurship Training.Journal of Commerce and Management Thought,5(3), p.459. Smallbusiness.chron.com. (2016). 5 Resources You Need to Succeed to Start a Business. [online] Available at: https://smallbusiness.chron.com/5-resources-need-succeed-start-business-23.html [Accessed 31 Dec. 2016]. Wang, Z., 2015. Supermarkets and gasoline: An empirical study of bundled discounts. Resources for the Future Discussion Paper, pp.15-44. Weaver, K.M., Liguori, E.W., Maurer, J., Bendickson, J. and Gibson, B., 2012, January. What Really Impacts Local Business Climate: Evidence of the Need for Entrepreneurship-Friendly Policy and Entrepreneurial Role Models. InICSB World Conference Proceedings(Vol. 2, No. 1, p. 1). International Council for Small business (ICSB).