Martin Luther s The Pope Essay - 1700 Words

First, it is important to understand Martin Luther’s main issues with the Catholic Church and their practices. The majority of his grievances were summed up in his Ninety-five Theses. One of his main points was to question the authority of the Church. He writes â€Å"The pope has neither the will nor the power to remit any penalties except those which he has imposed on his own authority†¦The pope has no power to remit any guilt† (194). Luther stated the pope shouldn’t have the ability to remove any shame or infraction a Christian has committed unless it is through God’s will. Luther instead emphasized that justification by faith alone allowed for sin or guilt to be removed by God by acknowledging the sacrifice of Christ. The pope instead did not do the work of God but just worked for God which changed how the pope should be viewed in the public eye. Luther went after many different aspects of the papacy if the pope to express how he saw how the Chur ch failed to express his ideal Christian message, especially regarding indulgences. He argued that any Christian leader saying that Indulgences given by the pope saved you from sin was were completely wrong and all Christians deserved to be removed from sin without Indulgences written by the pope.1He disregarded indulgences since he thought were better ways to remove sin instead of paying money to get out of purgatory. Luther believed that money should not play a part in the path of Christian salvation since vile people could buyShow MoreRelatedThe Meaning Of Luther s Ideas Through The Eyes Of Others1585 Words   |  7 PagesThe Meaning of Luther’s Ideas through the Eyes of Others Martin Luther’s religious ideas created an eclectic mix of responses dealing with social power and influence in society. Many people reinvented Luther’s ideologies to fit their wants and goals. This in turn influenced peasants to strive for social justice, the Pope to be on the defensive to maintain authority, and world leaders like Charles V to use the reaction of the Pope for personal gain. The life of the peasantry during the 16th centuryRead MoreMartin Luther s Life And Accomplishments1595 Words   |  7 PagesHeidi Mouton December 1, 2015 English 3 AP Period 2 Martin Luther Research Paper Martin Luther was born in Eisleben, Germany on November 10, 1483. Lutheran father, Hans Luther was of peasant decent. Though he did have minors successes in mining and ore smelting. Hans wanted his son to have a better life by being a lawyer. At the age of seven Martin started school in Mansfield. At the age of 14 he went north to Magdeburg, where he continued his studies. Then again in 1498, he movedRead MoreMartin Luther, And His Concept Of Christianity1644 Words   |  7 Pagesessay about Martin Luther, and his concept of Christianity. As a student and a unbiased Christian, I enjoy studying all types of religions, and elements that encompass them. Luther began his religious career as an Augustinian Monk in the Roman Catholic Church. So, Luther was initially loyal to the papacy, and even after many theological conflicts, he attempted to bring about his understanding with the Church. But this was a contradiction not to suffer because in his later years, Luther waged a continualRe ad MoreCatholic Church During The Protestant Reformation1464 Words   |  6 Pagesthe Flagenece went through the towns offering penance trying to make amends for the evil of the world. Due to their extreme approach of turning their anger on the Jews and priests who did not approve of them, they were suppressed and condemned by the Pope in 1349. There were questions as to why God was so angry with his people, and why his servants and leaders in the Church could not appease his anger. In the history of the church there have been a lot of Abuse of Indulgences. An indulgence can be seenRead MoreMartin Luther : Cuts All Ties With Catholic Church1712 Words   |  7 PagesDecember 2015 Martin Luther: Cuts All Ties with Catholic Church I. Introduction Whether you believe in a higher power or not, religion has impacted our lives in some way. Vice versa, people can make an impact on religions and transform them to what we know today. Take for example Martin Luther. He was a man looking to simply reform the Roman Catholic Church and its preaching’s because he disagreed with it. With his many ideas, strong will, and criticisms, he forever changed the world. Martin challengedRead MoreThe Appeal Of Indulgences By Johann Tetzel1407 Words   |  6 Pagesensured that the supplier s spirit would enter paradise all the more rapidly by lessening their time in limbo. The Church taught that if a man had submitted no genuine sins that ensured a spot in damnation and they kicked the bucket before apologising and making up for the greater part of their wrongdoings, then their spirit went to limbo—a sort of waystation where a man completed the process of making amends for their transgressions before being permitted to enter paradise. Pope Leo X had allowed indulgencesRead MoreThe Death Of Martin Luther1013 Words   |  5 Pages Martin Luther was born in Germany on November 10th, 1483. He was the son of Hans and Margarette Luther. In 1501 Martin entered the University of Erurt where he received a master of arts degree. He got a degree in grammar, logic, rhetoric and metaphysics which seemed as if he was becoming a lawyer. In 1505, Luther went through some life changing experiences which led him on a new course. He got caught in a storm where he plead out to St. Anne, Save me, St. Anne, and I have become a monkRead MoreMartin Luther And The Protestant Reformation1349 Words   |  6 Pagesto fix by amendment is Martin Luther. In the early 15th century, the Catholic Church was under siege from criticism based off of corruptions and Catholic wrongdoings; this time in history was known as the Protestant Reformation. The main catalyst in this revolution was none other than Martin Luther. Although Martin Luther sparked rebellion and a revolution, he , himself, was a reactionary reformer in how he wanted to restore the church into what it once was. Martin Luther, according to his ideasRead MoreMartin Luther Dbq-Ap European History1053 Words   |  5 PagesJustine Chapel November 19, 2012 AP Euro P3 Martin Luther DBQ By the 1500’s many issues shows signs of disorder within the Church. The idea of selling indulgences (forgiveness for sin) for clergy benefit began to negatively spread throughout the people, along with opposition to pluralism (holding more than one office). This sparked many attempts to reform the church through individual groups, one of which being the Brotherhood of Common Life. One of their accomplishments was starting schools forRead MoreThe German Reformer Martin Luther930 Words   |  4 Pages The German reformer Martin Luther was the first and greatest figure in the sixteenth-century Reformation. An author of commentaries on Scripture , theology, and priestly abuses, a hymnologist (writer of hymns [sacred songs]), and a preacher, from his own time to the present he has been a symbol of Protestantism (group of Christian faiths that do not believe in the supremacy of the pope, but in the absolute authority of the Bible). Luther had an intriguing childhood with h is father, a major

Perception Innovativeness Shopping In India -Myassignmenthelp.Com

Question: Discuss About The Perception Innovativeness Shopping In India? Answer: Introducation According to Laudon and Laudon (2016), the use of technology in the modern world has become very important in the business and especially in the banking sector. The banking sector in the modern world is too much dependent on the use of technology so that it can help in efficiently managing the bank accounts of the customers. The use of technology has also bought some problems and challenges such as external threats that need to be dealt cautiously. The researchers Reaves et al., (2015), was of the view that the increase in the cyber frauds along with the unintentional acts of the employees have led to secure the data in a confidential manner so that it cannot be used for misguiding activities. Most of the banks nowadays are exposed to the risk of cyber attacks, as there may be security breach of the privacy of data due to the various online modes of payments and the use of ATM cards. The number of attacks in the financial services has increased by four-folds than the other industries that are operating on a global manner. Thesis statement The major problem of the banks nowadays is to protect the data from the various fraudulent activities that are taking place in the world recently. This paper will aim to discuss the privacy and security issues that are faced by the banks with the change in the time so that it can be counter measured in an efficient manner in retaining the data that are present with the banks. Privacy Issues In the contemporary period of internet banking communication has become easier along with the exchange of huge set of data. That is why privacy concern is also important as no person can be trusted with the public networks without proper verification. Bhasin (2015) was of the view that most of the banks are trying to tighten the grasp of security in their work mechanisms so that the gaps between them can be filled properly. They are using the method of encrypting the data with passwords, Secured Socket Layer (SSL) and the use of User Awareness Programs, which might provide some resistance to the fraudulent activities that are being carried against the banks. Cyber Security attacks on banks As per Thakur and Srivastava (2015), the challenges that are being faced by the banks include the issues related to privacy, which includes the sharing of the information that is personal in nature. The sharing of the information with the third parties allows them in accessing the information of various personnel so that it can be used for the purpose of marketing and the numbers on the cards can be derived without the consent of the user. The collection of the personal data and information of the consumers will lead to blackmailing the people by the fraudsters. Venkatesh, Rathi and Patwa (2015) pointed out that another problem that is associated with the cyber attacks on the banks is known as Phishing, which is an attempt that is made to obtain the information that is sensitive in nature. The fraudulent activities will result in getting access to the details of the credit card holder along with the passwords and usernames of the consumers. This is commonly carried out by messaging on an instant manner along with the spoofing that is done through e-mails. The access to the online information by the fraudsters will help them in gaining access to the bank details from where the money can be transferred without the knowledge of the consumers. Apart from this, Srivastava and Gopalkrishnan (2015) opined that there is another problem that is known as cross site scripting (XSS), which is usually applied in the application on the web where the injections of codes are done in the web pages of the users so that it can be viewed by other users as well. This vulnerability is used by the fraudsters so that it can help in exploiting the consumers by bypassing their information so that they can gain the access to control their systems (Iibf.org.in, 2018). Another problem as opined by Laudon and Laudon (2016) was that the banks are facing is known as Pharming where the user will be redirected to a fake site when they try to access an original site. This is done by changing the files that are present in the computer of the host or by using the theory of exploitation by increasing the level of vulnerability in the DNS server software. Data retention problems in data security Inukollu, Arsi and Ravuri (2014) argued that the acceptance of the challenges in the security system by the banks are becoming more complex with the passage of time, as most of the banks are trying to tighten their mechanisms of security with respect to the various activities that are taking place against them. They are using different counter measures such as anti-hacking and anti-key logging technology so that the data can be retained within the system. These counter measures will help in securing the safety of the banks so that the use of One Time Password (OTP) can be encouraged among the customers (Banking.apacciooutlook.com, 2018). Moreover, Roy and Venkateswaran (2014) were of the view that malware is another software program that is used by the fraudsters so that they can change the computer system without the consent of the owner or the user. It is inclusive of Trojan horses, worms and viruses so that it can result in influencing the confidentiality and availability of the system of banking. It has the ability to compromise the information within the system of banking so that it can result in loss of millions of rupees from the banks. The use of this software can be done to target the bank or the system of the user as well (Dsci.in, 2018). Counter measures used by the banks The banks are using the technology of database encryption so that it can prevent the internal employees from using the sensitive data who have access to the databases. The use of Transparent Data Encryption has helped the banks in encrypting the data within the database system by applying an asymmetric or a symmetric approach so that the encryption key can be used to store the master database of the banks (Thakur Srivastava, 2015). The Indian banks are also removing the unwanted data that are no longer being used within the system so that it does not unnecessarily compromise the security of the data. The retention and archiving the data will help the banks in ensuring that the data can be safely stored within a dedicated environment (Reaves et al., 2015). Kiljan et al., (2017) pointed out that they are highly encouraging in using the system of SSL, which helps in establishing a secured connection between the client and the server. It works by creating an encrypted link between the browser and the server and the information that is sensitive such as the number on the credit cards can be secured with the use of SSL. The SSL communication can be established in to the system if the server of the bank has a Certifying Authority (CA), which constitutes of a pair of keys that is one public and private key each. There exists a third key as well known as the session key, which needs to be exchanged between the browser and the server so that the connection can be secured between the private and the public key. Apart from these counter measures; Roy and Venkateswaran (2014) were of the view that the banks have to assess the risks that they are facing on a continuous manner with respect to the size, setup and the operations of business in an efficient manner. This will help in eradicating the risks that may result in effective controls of the security and the threats of identity. These loopholes can be measured and better designs can be implemented within the Indian banking system so that it can help in keeping a check on the fraudulent activities that are happening within the system (Ijcaonline.org, 2018). Reference List Banking.apacciooutlook.com. (2018).Data Security And Privacy Concerns For The Indian Banking Industry. [online] Available at: https://banking.apacciooutlook.com/cxoinsights/data-security-and-privacy-concerns-for-the-indian-banking-industry-nwid-44.html [Accessed 4 Feb. 2018]. Bhasin, M. L. (2015). Menace of frauds in the Indian banking industry: an empirical study. Dsci.in. (2018).State of data security and privacy in the Indian banking industry. [online] Available at: https://www.dsci.in/sites/default/files/DSCI%20-%20KPMG%20Banking%20Survey%20Report%20-%20Final.pdf [Accessed 4 Feb. 2018]. Iibf.org.in. (2018).SECURITY AND PRIVACY ISSUES IN E-BANKING: AN EMPIRICAL STUDY OF CUSTOMERS PERCEPTION. [online] Available at: https://www.iibf.org.in/documents/reseach-report/Tejinder_Final%20.pdf [Accessed 4 Feb. 2018]. Ijcaonline.org. (2018).Challenges in Privacy and Security in Banking Sector and Related Countermeasures. [online] Available at: https://www.ijcaonline.org/archives/volume144/number3/zahoor-2016-ijca-910173.pdf [Accessed 4 Feb. 2018]. Inukollu, V. N., Arsi, S., Ravuri, S. R. (2014). Security issues associated with big data in cloud computing.International Journal of Network Security Its Applications,6(3), 45. Kiljan, S., Simoens, K., Cock, D. D., Eekelen, M. V., Vranken, H. (2017). A survey of authentication and communications security in online banking.ACM Computing Surveys (CSUR),49(4), 61. Laudon, K. C., Laudon, J. P. (2016).Management information system. Pearson Education India. Reaves, B., Scaife, N., Bates, A. M., Traynor, P., Butler, K. R. (2015, August). Mo (bile) Money, Mo (bile) Problems: Analysis of Branchless Banking Applications in the Developing World. InUSENIX Security Symposium(pp. 17-32). Roy, S., Venkateswaran, P. (2014, March). Online payment system using steganography and visual cryptography. InElectrical, Electronics and Computer Science (SCEECS), 2014 IEEE Students' Conference on(pp. 1-5). IEEE. Srivastava, U., Gopalkrishnan, S. (2015). Impact of big data analytics on banking sector: Learning for Indian banks.Procedia Computer Science,50, 643-652. Thakur, R., Srivastava, M. (2015). A study on the impact of consumer risk perception and innovativeness on online shopping in India.International Journal of Retail Distribution Management,43(2), 148-166. Venkatesh, V. G., Rathi, S., Patwa, S. (2015). Analysis on supply chain risks in Indian apparel retail chains and proposal of risk prioritization model using Interpretive structural modeling.Journal of Retailing and Consumer Services,26, 153-167.

7 GIFs to Celebrate #NationalPizzaDay

​Today might be the single most important day of the entire year: National Pizza Day. To celebrate one of the finest snacks ever created, we wanted to remind you just how important pizza is. 1. Just look at how beautiful pizza is cooking in the oven; the cheese and sauce bubbling together to create perfect harmony, the crust crisping to add just the right amount of crunch, the toppings blending in beautifully to become the wonder we know as ‘pizza’. 2. Perhaps the master of all things food related, Homer Simpson even knows how valuable pizza is. Who wouldn’t want to immerse themselves, becoming one with pizza? 3. ALL YOU CAN THINK ABOUT IS PIZZA. 4. Frosted tips, perfectly placed asterisks, and Justin Timberlake. N*SYNC borders on tears just thinking about pizza. 5. Arguably the greatest rodeo on the planet. 6. The fear on Han’s face shows just how important pizza is. 7. Kitties, lasers, space, and pizza. What else do we need to say? BONUS: The Donald (from SNL) loves his pizza so much, he wants to be pizza.

The three classic gangster movies

The three classic gangster movies: Little Caesar (LeRoy, 1930), Public Enemy (Wellman, 1931), and Scarface (Hawks, 1932) usually took place at night in speakeasies, night clubs, elaborate apartments of the gangsters, and back rooms during the time of prohibition. Prohibition is believed to be the lead cause of the development of gangsters throughout the United States and the beginning of inter gang conflict involving territory among enemies. Each classic was said to have been based on a real life gangster of the 1930's and characters were created to depict the life of crime on the streets drawn from actual newspaper headlines. Actors such as Edward G. Robinson and James Cagney were cast to portray the life of infamous gang leaders Al Capone, Bugsy Siegel, and Hymie Weiss. It has been stated that their screen portrayals bore little resemblance to the actual criminal. In fact, many critics have argued that just the reverse is true, that "real" criminals tended to adjust th! eir dress and demeanor so that they might resemble their depiction in the movies. (Shatz 84) Two of the three most popular films begin and end in the same manner. Little Caesar opens with an off screen robbery and murder of a gas station attendant by a small time crook, Rico, who eventually makes his way to the top in the big city with the help of his right hand man, Joe. After he achieves his "overly ambitious goal of becoming a crime lord, Rico is machined gunned down in the final scene." (Dirks 2) The same holds true for Scarface. Tony Camonte, the former body guard of "Big Louis" Costillo- the last of the old fashioned leaders-sets the stage for what is to come when he viciously murders Costillo in his own night club. This begins Tony's relentless pursuit in his quest for power and fortune. Tony, like Rico, is killed by police sending him back to the gutter where they came from. The third of the classic gangster films, Public Enemy, opens not wi...

Using Inductive Reasoning Essay Example | Topics and Well Written Essays - 1000 words

Using Inductive Reasoning - Essay Example The enlightenment process occurred in the writing â€Å"The library card† is essentially different from that which Plato has described. Plato in his writing is talking about the spiritual enlightenment which leads to salvation. It is about a divine awakening in a person which changes his perception and view about the whole world and himself. When the idea of a human being changes due to the enhancement of his knowledge cannot be completely categorized as spiritual enlightenment rather it is just a revolution in his thoughts and outlook about him and the world. Nevertheless, an intelligently awakened can find the path of spiritual awakening more easily as he is open to new ideas and concepts. The contradictions in two writing The author of the essay explains the way in which he had an opportunity to experience the sense of awakening with the help of different books and novel.  He is a black man had very little knowledge about the real living style and thoughts of white men. H e lived in a time when blacks were oppressed and considered nothing more than slaves. Nevertheless, he had a hidden passion for reading but found no access to books due to the situation he was living in. Even then he managed to get access to books and this was a turning point in his life. He had the chance of reading the predicaments of a white revolutionist who denounced the western customs and practices.H e also became aware of certain names he never knew before which the book mentioned. Slowly he was progressing towards more of reading which was changing his attitude and perception towards the white dominant society. He has been gaining enlightenment with the assistance of the books and novels he was reading. He was gradual that all the whites are not the same, people have different values and ideas. It was also realizing that it is not fair to view everyone in the same way as people are different in their own ways. This changes his attitude and behavior of white men. He was more compassionate towards them and also wanted to fight against injustice prevailing in the society. The difference in the enlightenment described by Plato and the author.

Tanker Shipping Market Outlook Case Study Example | Topics and Well Written Essays - 500 words

Tanker Shipping Market Outlook - Case Study Example Finally, there would be capacity issues imposed by seaway regulations associated with allowable freight sizes that could further limit profitability and competitive advantage. The business recognizes cost issues in proposing new strategies, evident in recognition of RFID investment and concerns over the pricing model after investing in RFID. Is diversification the most effective strategy to improve the competitive position and profitability of Great Lakes Carriers or should the business continue with its current operational model for iron ore freight? D. Conduct a research study on safety risks associated with railroad transport versus lake shipment to present to customers currently using railroad for grain deliveries and enhancing railroad market share in the process. Solution A would be the most viable to GLC. Purchasing the new fleet would not only serve new markets and improve profitability, but it would also give the business more assets. Leszczynski (2009) identifies that new ships maintain almost the same depreciated value after five years as at the time of purchase. Thus, the life cycle of these ships gives more asset protection and would also improve the capacity of Great Lakes Carriers to gain more market share. The low capacity ships required due to size restrictions by regulatory forces on the lakes cost approximately 43 million USD (UNCTAD, 2006). It is also common practice in the maritime shipping industry to hedge against potential risks, such as demand decreases, through Freight Forward Agreements (Kavussanos, 2003). This could help offset the one-time high investment as well as new market share improvements. GLC should consult with new and used ship sellers to identify the most practical solutions for procurement.  

Sneakers War Essay Example for Free

Sneakers War Essay Marketing Management SNEAKER WARS 2007 Nike never lacks for boldness. The Beaverton sneaker goliath recently offered the German National Soccer Federation $778 million to sponsor its national soccer team for 10 years in an audacious move to rattle its German rival adidas and long-time sponsor of the German team. Nikes new chief executive, Mark Parker, upped the boldness quotient again on Feb. 6, when he outlined an ambitious plan to grow revenues by $8 billion in five years. In his first major initiative since inheriting the top spot (Chief Executive) in January, 2006, Parker explained to investors at Nikes annual analyst conference how the company aims to grow to $23 billion in global revenue by 2011. The comprehensive long-term strategy calls for reshaping the management structure; redefining Nikes relationship with its fast-changing, digitally driven consumer; and adding 100 new company stores worldwide in three years. Were fundamentally changing the way we organize the company, Parker said. Nike is as hungry and as driven as weve ever been before and becoming more focused and more competitive. While analysts and investors applauded much of Nikes new strategy, some questioned whether the company could actually do it. After all, revenues would need to rise 53% over five years, or average about 9% a year, to reach the target of $23 billion. Its going to be challenging to achieve $8 billion in new sales without turning around slumping sales in Europe, Japan, and the U. S. basketball market a crucial $3 billion to $3. billion market segment. I think its going to be tough for them, said John Shanley, financial analyst for Susquehanna Financial. Basketball, for example, is shrinkin g in terms of sales. They have 96% of the market share in the $100 or more price point. How do you get high single-digit growth when you already have more than 96% of the market? Nike executives fell short in offering specific details to some of these questions and focused more on painting a broader picture of the new strategy. They stressed a multi-pronged approach that includes reorganizing the Nike brand into six main athletic divisions running, basketball, soccer, womens fitness, mens training, and sport culture that are expected to generate 75% of the brands growth. The company had previously divided the brand into three segments: footwear, apparel, and equipment. Growth is also expected to come from emerging markets and potential acquisitions. But Nike Brand President Charlie Denson said the company can reach the $23 billion target without new acquisitions. As for new markets, China is expected to become Nikes second biggest market behind the U. S. , potentially chalking up $1 billion in sales. Nike is building a strategy for growth across China that will foster new connections with Chinese youth, a market share plan designed to reap benefits far beyond the Beijing Olympics next year, top executives said last week. By tapping into swelling consumerism, label consciousness and new social freedoms among Chinas youth, Nike hopes to cement and expand its current position as the leading athletic footwear and apparel brand in the worlds most populous country, currently the companys fourth-largest market. With about $600 million in current annual sales, Nike believes China has the potential to be the companys second-largest market behind the United States with revenue of $1 billion within five years. The company estimates some 50 million Chinese youth play basketball. We think our opportunity there is to connect more deeply with local culture, Parker said, explaining Nikes overall China strategy. Parker said Nike will create products and retail and digital experiences designed to resonate with wired, hip and willing-to-spend Chinese youth living in different cities and regions. Ultimately, thats going to be our best foundation for growth going forward, Parker said. China is a prime component in the global Nike puzzle that will help push total sales for the Beaverton, Oregon-based company toward a target of $23 billion by 2011. Nike also views India, whose population growth rate is rising faster than China’s and Russia as potential $1 billion markets. Although the budget for Nik es 2008 Beijing Olympics strategy has not yet been planned, Nike Brand President Charlie Denson said that commitment would be major. But, Denson said, We are looking beyond Beijing. A recent Just Do It campaign that aired on Chinese television featured a young woman basketball player and a young male skateboarder who spoke of their lives and dreams through sports. A popular Internet-based advertising campaign that followed the television advertisements encouraged teenagers to send in their own stories. While soccer and basketball are the most popular sports among Chinese youth, Nike also sees a huge market for its sports culture footwear and apparel lines that capture the allure of sports without the performance aspects. Trevor Edwards, Nikes vice president of global brand and category management, explained that Nike is trying to encourage Chinese youth to find their individual voice. The Just Do It campaign and others, Edwards said, communicated that we were a brand about opportunity; we were a brand about hope. Nike sponsors 22 out of 28 Chinese sports federations. While the best-known Chinese athlete in the United States, basketball centre Yao Ming, is signed with Reebok, a division of Adidas AG , popular Chinese hurdler and Olympic gold medallist Liu Xiang is a Nike athlete. Even though much of Nikes marketing campaign in China is based on youth individuality, Nike wants to make sure their footwear fits the millions. To that end, Nikes engineers and physiologists back at their headquarters have been collecting data about Chinese feet. But the company will not say whether specific footwear lines will be launched for China. Nikes India business has grown 40% since last year thanks in part to its efforts in cricket. Nike executives also said they plan to invest aggressively in other potential billion-dollar markets such as Russia and Brazil. Back in the USA, Nikes efforts to add new retail stores and elevate its partnership with existing retailers is a big part of its new strategy. This effort comes at a time of sluggish sales from some of its biggest retailers mall-based chains Foot Locker (FL) and Finish Line (FINL). Nike executives said the company plans to grow its direct-to-retail business to 15% of total sales, or $3. 5 billion, from 12% today. The segment includes its own stores, factory outlets, and an e-commerce division, which executives expect to see a significant increase in revenues over the next five years. For the planned retail investment, Nike will increase capital spending to $475 million annually, up from just under $400 million, Nike said. Gary DeStefano, president of Nikes global operations, stressed its retail goal is to make Nike a better retail partner: This is not about Nike vs. the retailers, he said. This is a partnership. We believe this could be a growth strategy. But probably Nikes boldest bet is on the consumer. In the eyes of Parker, this new and evolving digitally driven consumer is reshaping the retailing landscape. The power is now in the onsumers hands, and Parker believes Nike and other consumer brand companies need to adjust to the new market dynamics. Consumers have never held as much power as they do today, Parker said. And clearly the power has shifted to consumers. Nikes Denson said this fundamental shift can be captured in the way the company studies its consumer profiles. In the past, managers used to consider 18- and 22-year-olds as part of the same demo graphic target. Now he says they are treated as separate and distinct markets when it comes to age, interests, and tastes. We spent the last 30 years trying to bundle things, and now its almost the reverse and we have to un-bundle things, Denson said, explaining Nikes new efforts to tailor products to individual consumers. Despite these fundamental changes in how Nike approaches its customers and its reshaped management structure, some things never change. Nike remains its audacious self and competitive juices still run strong. It still has goals to dominate markets where it is not already No. 1, and it’s redoubling efforts to unseat rival Adidas as the worlds top supplier of soccer shoes and apparel. Its recent bid to sponsor the German national team is part of its 2010 goal to dominant the football brand, said Nike marketing vice-president Trevor Edwards. We believe its time to create separation. This is not a game of chicken. Some things never change. Adidas expects growth overseas, particularly in Asia, to push sales at its Reebok division to US$5 billion ($7. 42 billion) over the next three to five years, up from US$3 billion, adidas chief Herbert Hainer said yesterday. The worlds second-largest sporting goods maker after Nike also said it expected to cut costs including at Reebok, which it acquired last year by about 87 million euros ($1. 6 billion) this year. That will more than offset integration costs, resulting in an overall cost savings of about 10 to 20 million euros, Hainer said. For the Reebok brand, the main growth driver will be Asia and to a certain extent Europe as well. Key markets like Germany and France are underdeveloped, as is Russia. Emerging markets have a huge potential and we will grow in the US, but by far not at the pace of Asia. Much of that growth will come toward the latter part of that period with the brand expecting only modest revenue growth, said Paul Harrington, president and CEO of the Reebok brand. Adidas, the German based sporting goods giant, bought Reebok in a US$3. 8 billion deal, looking to complement its strength in Europe with a major US brand that had greater strength in the fashion segment. But the Reebo k brand has been a drag on Adidass performance thus far. In November 2006, the German company lowered its 2007 profit growth forecast to 15 per cent from 20 per cent, citing trouble at Reebok. Adidas shares have slid almost 14 per cent since the Reebok takeover closed on January 31, 2006. Rival Nikes shares have risen about 24 per cent over that time. Reeboks sales have been lagging in the United States and the United Kingdom, though adidas plans a big expansion for the brand in Asia, including about 3200 stores in China, India and Russia by 2010. It is to open 200 stores in China and 90 in Russia this year. The brand is also eyeing an expansion in Japan, South Korea, Turkey, Poland and other parts of Eastern Europe. In Brazil, Argentina, Switzerland and Spain, where the brand is still sold by third-party distributors, the company is working to buy out those contracts, but some may have to run their course through to 2012. At present, about 40 per cent of the Reebok brands sales come from North America and 40 per cent from Europe. Part of what makes the expansion outside the United States so appealing is that profit margins tend to be higher in the rest of the world, Hainer said. You have much higher quantity on the US market, but much more value, higher profit margins on the European or Asian market. Adidas plans to reposition its Reebok brand to target athletics apparel consumers who value individuality, with a goal of broadening beyond an urban youth target audience and re-emphasizing Reeboks roots as an athletics performance brand. The strategy comes as Germany-based adidas ramps up its investment in Reebok a year after acquiring the brand and then seeing Reebok sales fall into a slump. The revised brand strategy builds off the edgy I am what I am campaign Reebok adopted four years ago by embracing hip-hop culture and youth-oriented entertainment alongside its traditional athletics performance market. The new strategy will maintain the I am what I am theme in many of Reeboks advertisements. But it also will position Reebok as an American-inspired global brand that celebrates individuality in sport and life, according to Adidas. Reebok President and Chief Executive Paul Harrington said the brand will gently shift emphasis toward suburban consumers of all ages without abandoning the urban youth targeted by I am what I am. Reebok also will try to reconnect with consumers who value athletic performance over fashion. While I am what I am wont go by the wayside, It may not be as loud as it was when we first launched it, Harrington said in an interview at Reeboks Canton headquarters, where he was joined by Adidas CEO and Chairman Herbert Hainer. The street-influenced I am what I am campaign helped Reebok connect with youth by featuring endorsers such as rappers 50 Cent and Jay-Z. But some industry analysts said the campaign risked alienating customers who prize performance over fashion and marked too sharp a departure for a brand that gained traction pitching aerobics shoes to women in the 1980s. Were not going to move totally away from music, but were going to reach for a broader audience, Harrington said. Adidas hopes Reebok will double its U. S. business and narrow Beaverton, Oregon-based Nike Inc. s market leadership. But adidas said in November last year (2006) that sales of Reebok-branded shoes and other apparel fell 7 percent in the first nine months of last year, compared with the same peri od in 2005. Adidas also conceded that Reeboks profit growth this year would fall short of initial expectations, and it said it intended to increase Reebok investment this year. Among other things, Reebok has been hurt by a recent decline in the once-hot market for retro-styled sneakers that mimic styles from the 80s a trend that Reebok helped drive, said John Horan, publisher of Sport Goods Intelligence, a Glen Mills, Pennsylvania-based industry newsletter. Since Adidas completed the Reebok deal in January 2006, analysts have speculated as to how the one-time athletics sneaker and apparel rivals would position the two separately managed brands to avoid competing against one another in the same market niches. The strategy announced Thursday will be launched with two Reebok campaigns this year. The first is a Run Easy campaign beginning this spring emphasizing the fun and joy of running, rather than its blood, sweat and tears aspect and winning. Reebok plans to launch a broader campaign in August targeting a variety of athletes as well as lifestyle apparel consumers around the theme Best On/Best Off suggesting that Reebok products offer the best in apparel both on and off the playing field. New products Reebok plans to introduce this year include a running shoe created especially for women, a new Allen Iverson model basketball shoe, and an apparel collection endorsed by actress Scarlett Johansson. Andrew Rohm, a former Reebok marketing employee and now an assistant professor of marketing at North-eastern University, said the revised strategy reflects an attempt by Reebok to create a new niche to complement the Adidas brand, whose traditional strength has been in athletic performance, especially soccer. I think it may be a reflection of looking less at sheer sales volume, and more in terms of owning a unique space, and becoming more of a niche player than they have tried to be in the past, Rohm said. Reeboks Harrington said the revised marketing strategy will help position the brand for a comeback. It really positions us for growth in the back end of 2007, he said. Puma, the maker of athletic shoes, shirts and other sporting goods, said its fourth-quarter profit fell 26 percent as it tries to broaden its product base and expand into new regions. But the company, the worlds third-biggest maker of sports apparel behind Nike Inc. and adidas AG, said it expected sales and earnings in 2007 to increase in the higher single-digit figure range, largely on demand for its licensed products. Overall, we are very pleased with 2006 and our start to (the latest restructuring phase), as we set some ambitious targets and are on track or ahead on all accounts, Chief Executive Jochen Zeitz said in a statement. But more important than the past is the future and weve put ourselves in a solid early position to deliver on our objectives. Puma earned euro32. 8 million (US$43 million) in the last three months of 2006, down from euro44. 1 million in the same quarter of 2005. Analysts polled by Dow Jones Newswires had expected a profit of euro34 million (US$44. 6 million). Sales rose 38 percent to euro480 million (US$629. 7 million) from euro349. 2 million a year ago, still less than the euro492 million (US$645. 4 million) analysts had predicted. For the year, Puma earned euro263. 2 million (US$345. 3 million), down nearly 8 percent from euro285. 8 million in 2005, just below analysts estimates of euro264 million (US$346. million). Sales rose 33 percent to euro2. 37 billion (US$3. 11 billion) from euro1. 78 billion in 2005, just under estimates of euro2. 38 billion (US$3. 12 billion). The sales increase was led, in part, by better-than-expected demand for its shirts and helped by the afterglow of the 2006 soccer World Cup, in which Puma sponsored the champion Italy. It is also a key supplier to many African teams. Since Zeitz was named CEO and chairman of the company in 1993, Puma has returned to profitability and increased sales and expanded its research and development, marketing and branding programs. Its latest restructuring effort is aimed at expanding the companys reputation as a maker of lifestyle brands clothes, shoes and accessories, such as eyeglasses and expand in more regions and categories. For the year, Puma posted strong sales in North and South America, with sales reaching euro724. 1 million (US$949. 95 million), up 51. 8 percent from 2005. In Asia and the Pacific, sales more than tripled to euro486. 5 million (US$638. 24 million). In Europe, the Middle East and Africa sale increased 5. 1 percent to euro1. 15 billion (US$1. 51 billion). The companys backlog of orders a key indicator for future sales performance was at euro1. 12 billion (US$1. 47 billion) at the end of 2006, up 4. 7 percent from euro1. 07 billion in 2005. Shares of Herzogenaurach-based Puma were up nearly 2 percent after the results were released but fell back more than half a percent to euro288. 01 (US$377. 84) in Frankfurt trading. References: Business Week Online Can Nike Do It? By Stanley Holmes 7 February 2007 Reuters News Nike striving to be brand about hope in China By Alexandria Sage 12 February 2007 New Zealand Herald Reebok to race in Europe and Asia 3 February 2007 Associated Press Newswires Adidas shifting Reeboks brand identity By MARK JEWELL 2 February 2007 Associated Press Newswires Athletic apparel maker Puma says 4th-quarter profit drops 26 percent By MATT MOORE 19 February 2007 Questions 1. Conduct a SWOT analysis of the key players in the sneaker industry and critically analyse their influence within the industry and the market. (25 marks) 2. Evaluate all significant trends in the environment and assess what impact each is likely to have on the sneaker industry. (25 marks) (Total = 50 marks)