Sunday, January 26, 2020
Prostate Cancer and Nutrition
Prostate Cancer and Nutrition Anand Somasundaram Contents (Jump to) Plant Based Diets: Fish Oil Vitamins and Minerals Dangers of Meats, high fat diets and Nitrites Conclusion Works Cited Introduction: Prostate cancer is the most common cancer of men and the third most common cause of death from cancer. Prostate cancer usually occurs in men above the age of 50. Many men who have prostate cancer, do not show any symptoms. Screening for this cancer is usually done by a Digital rectum exam (DRE) and/or Prostate specific antigen test (PSA). Digital rectum exam is the palpation of the prostate through the anus to check the size of the prostate. Prostate specific antigen test is a blood test to check if the prostate is releasing this specific antigen in the blood stream which can be a strong indication of prostate cancer. Research has been done on preventing and reducing the risk of obtaining this cancer. In these studies, nutrition can play a vital role in reducing the chances of getting this cancer. Diets that high in fruits and vegetables, low in fat especially fat from meats are shown to decrease the risk and development of prostate cancer. Plant Based Diets: Specific food groups have shown in several studies to be a crucial tool in preventing and slowing the progression of this disease. One group of foods that have shown a significant reduction in avoiding prostate cancer is plant based foods. Plant- based foods are shown to contain high amounts of vitamins and elements known to reduce cancer cell. For example, plant- based food contains vitamins and phytochemicals such as carotenoids, flavonoids, phytoestrogens and isothiocyanates (Ma Chapman, 2009). These phytochemicals have shown to regress cancer cell development and stop tumor promotion. Furthermore plant based diets are high in antioxidant. Antioxidants are molecules that prevent the oxidation of other molecules. Oxidation is the reason behind the production of free radicals. In addition, antioxidants reduce the damage to DNA by binding to these free radicals and eliminating them from the body. Free radicals damage the structure of DNA which can lead to tumor growth. An important carotenoid and phytochemical is lycopene. Lycopene is found in fruits such as tomatoes. Lycopene is known to reduce insulin-like growth factor 1 (IGF-1) signing. IGF-1 is protein that has found to promote prostatic cancer cells and allow the prostate to be susceptible to cancer. Cruciferous vegetables such cauliflower, broccoli, Brussels sprouts and bok choy all contain a compound call glucosinolate. Glucosinolate have shown in studies to reduce DNA damage, induce apoptosis and inhibit prostate cancer cell (Ma Chapman, 2009).They also possess phenethyl isothiocyanate, sulfophorane and indole-3-carbinol, which are compounds that have potential anti-cancer properties. Their mechanism of action involves the inhibition ofà cytochrome P450à enzymes, which oxidize compounds such asà benzo[a]pyreneà andà polycyclic aromatic hydrocarbonsà (PAHs) into more polarà epoxy-diols. Cytochrome P450 enzyme is a known agent to cause mutation and cancer growth Another vegetable that constitutes an impact on tumor cells is soy bean. Soy beans contain isoflavones*. Isoflavones are organic 3-phenylchromen-4-one structure substances that natural occur in different types of foods. They inhibit enzymes associated with transmission of signals for tumor cell growth. `Tea especially green has been found to have similar effects to consuming vegetables and fruits. Polyphenol compounds in green tea have also been found to have the same effects as the cruciferous vegetables. They prevent metastases of the cancer, induce apoptosis and inhibit cell growth. Studies have shown that green tea inhibits tumor growth, therefore, leading to lower prostate-specific antigen levels and lower IGF-1 levels (Ma Chapman, 2009). One of these polyphenolic compounds is epigallocathechin-3 gallate (EGCG). EGCG is known to attach to urokinase, Urokinase is an enzyme that helps tumor cells grow. In the current market, there is a drug called amiloride and is used Amiloride can only have a maximum dose of 20 mg EGCG while normal cup of green can have upwards of 150mg EGCG. Another benefit is that green tea can be consumed at much higher rate than amiloride and not have physiological effect on the body (Jankun ,1997, p561) . Fish Oil The next groups of food that have shown to inhibit tumor cell growth are fish oils. Fish oil contains n3 polyunsaturated fatty acids. n3 polyunsaturated fatty acids are known to reduce serum prostate-specific antigen (PSA) protein expression (Ma Chapman, 2009). PSA is produced by the prostate gland and is used by the body to liquefy semen. The body uses excretes PSA in semen but sometimes in the presence of cancer, the PSA escapes to the blood stream. There two main groups of fatty acids, omega 3 and omega 6 fatty acids. , Omega 3 fatty acids protect from cancer, while omega 6 fatty acids have been found to promote cancer when consumed in excessive amounts. One reason why omega 6 promotes cancer is because of its ability to promotion inflammation. (Tandon et al., 2008). Vitamins and Minerals Another antioxidant that has shown significant effect on prostate cancer cell growth is vitamin E. Vitamin E is considered as an intracellular antioxidant and an antiprostaglandin. * Antiprostaglandins are a group of molecules that reduce the production of mediators of the inflammatory process. As with any fat soluble vitamins, too much can have harmful effect. Intake of over 400 IU can be harmful to the body (Ma Chapman, 2009). In addition another vitamin that is important in inhibiting tumor cell growth is vitamin D. In studies, vitamin d has shown in both regular cells and cancerous to convert vitamin d into an active hormonal state. In this state, vitamin D has shown to inhibit tumor grow especially prostatic epithelial cells. (Tandon et al., 2008). Another substance besides vitamins that can help in the fight against is minerals. Minerals differ from vitamins in that vitamins are organic and contain carbon while minerals do not and are consider inorganic. A particular mineral, selenium, has been proven to be a protective agent. It reduces cellular proliferation, causes apoptosis and inhibits angiogenesis. (Ma Chapman, 2009). Angiogenesis is the growth of new capillary blood vessels in the body. In preventing blood vessel formation; the tumor cannot grow or spread (Li, Smith Li, 2011). Dangers of Meats, high fat diets and Nitrites All the foods discussed above have shown to decrease the instance of prostatic cancer cells. On the other hand, there are groups of food that are now known to promote prostate cancer cells. For example, meats especially cooked at high temperatures contribute to the production of cancer cells. When a meat is cook at high temperature, it releases carcinogens. Carcinogens are known to alter DNA which can lead to two results, apoptosis or promotes uninhibited cell growth. The two carcinogens that are produced during this process are Heterocyclic amines (HCAs) and polycyclic aromatic hydrocarbons (PAHs). (ââ¬Å"Why Carcinogens Cause Cancerâ⬠, n.d.). A way to reduce HCA and PAH formation in cooked meats is to reduce the amount of time the meat is cooked on an open flame. This can be done by continuously flipping the meat or using a microwave to shorten the cooking time on the stove. Another carcinogen that is found in meat is N-nitrosocompound. This carcinogen is found in bacon, hot dogs and anything containing sodium nitrate. Sodium nitrate is preservative added to food to not only preserve but also to add flavor to. N-nitroso is formed when the sodium nitrate combines with the amines in the meat to form this carcinogen. These N-nitroso compound attacks cells and can cause mutation to the moleculeââ¬â¢s DNA (Mehdad, 2010). In another study, there was evidence that a high fat diet contribute to prostate cancer. In this study, men consumer high types of monosaturated and polyunsaturated fats significantly increase their chances of getting prostate cancer (Crowe et al., 2008). Men who were consuming 45 grams of total fat in a day have 10-20 percent increased risk of getting cancer (Park, Murphy, Wilkens, Henderson, Kolonel, 2007). In another study, there was a strong correlation between obesity and prostate cancer. In a study of eighty-seven men with prostate cancer, 89 percent of these men were overweight or obese. Ninety- seven percent of them had a body fat of twenty five percent or higher (Mehdad, McBride, Grillo, Camilo, Ravasco, 2010). Obesity increases the bodyââ¬â¢s production of IGF-1 which discussed early leads to cancer cell proliferation. Conclusion As with anything, specific groups of foods need to be taken in moderation. Daily activity and a balanced meal can contribute greatly to not only prevent cancer growth but living a healthy happy life. Prostate cancer is the most common cancer for men and the second leading cause of cancer death in men. Eating foods high in antioxidants, phytochemicals such as vegetables and fruits can lead to the reduction of prostatic cancer cell forming. In addition, avoiding diets high in preserved meats, diary and cooking at high temperature all can additionally reduce menââ¬â¢s chances of getting prostate cancer. Works Cited Crowe, F.L., Key, T.J., Appleby, P.N., Travis, R.C., Overvad, K., Jakobsen, M.U., Riboli, E. (2008). Dietary fat intake and risk of prostate cancer in the European Prospective Investigation into Cancer and Nutrition. The American Journal of Clinical Nutrition, 87: 1405-1413. Jankun, J. (1997, June 5). Why drinking green tea could prevent cancer. Nature, 381, 561. Li, W., Hutnik, M., Smith, R., Li, V. (2011). Understanding Angiogenesis. Retrieved from http://www.angio.org/ua.php. April 4, 2014. Ma, R.W.-L. Chapman, K. (2009). A systematic review of the effect of diet in prostate cancer prevention and treatment. Journal of Human Nutrition and Dietetics, 22:187-199. Mehdad, A., McBride, E., Grillo, I.M., Camilo, M., Ravasco, P. (2010).Nutritional status and eating pattern in prostate cancer patients. Nutricion Hospitalaria,2 (3): 422-427. Park, S., Murphy, S.P., Wilkens, L.R., Henderson, B.E., Kolonel, L.N. (2007). Fat and meat intake and prostate cancer risk: the multiethnic cohort study. International Journal of Cancer, 121: 1339-1345. ââ¬Å"Prostate Specific Antigenâ⬠. Retrieved from http://www.medicinenet.com/ prostate_specific_antigen/article.htm . April 4, 2014. Tandon, M., Siddique, R.A., Avrind, R., Singh, N.K., Ambwani, T., Rai, S.N. (2008). Anti-cancer diet: reviewing the role of nutrition in cancer prevention. Current Topics in Nutraceutical Research, 6(2): 67-82. ââ¬Å"Why Carcinogens Cause Cancerâ⬠. Retrieved from http:// www.edinformatics.com/interactive_molecules/dna.htm. July 10, 2010. World Cancer Research Fund / American Institute for Cancer Research. Food, Nutrition, Physical Activity, and the Prevention of Cancer: a Global Perspective. Washington, DC: AICR, 2007 Jankun, J. (1997, June 5). Why drinking green tea could prevent cancer. Nature, 381, 561.
Friday, January 17, 2020
Business of Data Warehousing Foundations Essay
Executive Summary mySupermarket is a grocery shopping and comparison website which aims to provide customers with the best price for their shopping. This report examines how data warehousing provided mySupermarket with the foundation in which to build a successful enterprise, and allowed a subsequent expansion into the ââ¬Ëbusiness intelligenceââ¬â¢ sector. The research draws attention to the problems and limitations that mySupermarket encountered including; coping with diverse sources of data streams, customer loyalty issues, achieving real-time data, data integrity and generating a sustainable revenue stream. These problems were tackled respectively through; building their own data warehouse, adopting a CRM strategy underpinned by their warehouse, adopting Microsoftââ¬â¢s SQL software, supermarket website ââ¬Ëcrawlingââ¬â¢, offering ââ¬Ëtargetedââ¬â¢ advertising space and the realisation that the granularity of detail they offered, would allow them to expand into the ââ¬Ëbusi ness intelligenceââ¬â¢ sector. The report appreciates the importance of storing data, but concludes that data itself is the prerequisite to success, and that good management is needed to convert this data into meaningful information. It is therefore a combination of data warehousing and good management that has enabled mySupermarket to become a successful venture. Introduction ââ¬Å"On the 31st August 2006, entrepreneur Johnny Stern received a seven-figure sum from investors to transform the way consumers shop for their groceries. From this, the price comparison site mySupermarket.co.uk was born and the company has utilised data warehousing to give consumers access to cheaper grocery shopping. The venture has not been without its problems, however four years on the company has withstood Adam Smithââ¬â¢s ââ¬ËInvisible Handââ¬â¢[1] and grown into a c.à £10m companyâ⬠¦Ã¢â¬ mySupermarket is a grocery shopping and comparison site that allows customers to compare and shop from four main UK supermarkets in one central place. Their mission statement is ââ¬Å"to get the best possible price for your supermarket trolley while enjoying an easier and more consumer-friendly shopping experienceâ⬠. Through the use of SQL and data warehousing, mySupermarket is able to collect product pricing, promotion and availability data directly from retailersââ¬â¢ websites. It then uses its proprietary technology to match identical Stock Keeping Units (SKUs) across retailers. After initial investment from Greylock Partners and Pitango Venture Capital (investors in Facebook & LinkedIn), mySupermarket have faced the same difficulties as other price comparison sites in generating a sustainable revenue stream after Stern declared that ââ¬Å"the portal would remain free in principle for shoppersâ⬠. The customer proposition for mySupermarket is to first log into their account. Then choose which supermarket to shop at from; Asda, Ocado/Waitrose, Sainsbury or Tesco. Tick their preferred supermarket and choose a delivery time/date, then start to shop. mySupermarket is updated on a daily basis so that the prices shown are the most competitive. Once the customer has made their choice of store, they start to shop by using the tabbed choices along the top of the page. These are divided up into ââ¬Å"virtual aislesâ⬠so making a choice from Fruit and Veg, Meat, Fish & Poultry, or Drinks etc. Once shopping has been completed, it then shows basket prices across the four supermarkets and allows the customer an opportunity to switch supermarkets. This report will critically discuss how data warehousing has enabled mySupermarket to build a successful business model including the benefits and problems that have arisen from the use of this technology. The report will finally analyse the extent to which data warehousing has contributed to mySupermarketââ¬â¢s success. Technologies Discussed According to Bill Inmon[2] (1993) data warehousing can be defined as, ââ¬Å"aà subject-orientated, integrated, time variant and non-volatile, collection of data in support of the management decision making processâ⬠. It is, in essence, a large data storage facility which enables an enterprise to gain a competitive advantage through analytics and business intelligence. Providing integrated access to multiple, distributed, heterogeneous databases and other information sources has become one of the leading issues in database research and industry, IEEE Computer (1991) which can be seen through the success of First American Corporation (FAC), Cooper et al (2000) and Tesco/Dunnhumby, J. Perry (2009). Data mining is the process of ââ¬Ëdigging-outââ¬â¢ patterns from data, usually through Clustering, Classification, Regression and Association rule learning. Data mining technology can generate new business opportunities by providing: â⬠¢ Automated prediction of trends and behaviours. â⬠¢ Automated discovery of previously unknown or hidden patterns ââ¬â D. Champion and C. Coombs (2010) This process is carried out by sophisticated software packages such as Oracle, IBM and SQL. This alleviates the (potentially) very time consuming task of manually inputting and analysing the data Within data warehousing, there is a high importance placed on the quality of data, as without it, meaningful analysis is impossible. Data collection should therefore be taken with a high level of detail, and have solid definitions, as to avoid subjectivity. The purpose of a data warehouse is to support creative strategic decision making through a greater granularity of information with a consistent view of whatââ¬â¢s happening. Customer Relationship Management (CRM) emerged in the 1990ââ¬â¢s at a time when customers were becoming better informed and less brand loyal. CRM is an integration of technologies and business processes used to satisfy the needs of a customer during any interaction, Bose (2002, p. 89) and is underpinned by data warehousing. As with VISION in the FAC case (2000), the subsequentà benefits of CRM, is that firms are able to exploit the ââ¬Ë80:20 principleââ¬â¢ which states that some customers are more important/profitable than others. These information sources can only come through data warehousing and data mining. mySupermarket ââ¬â The Beginning The inspiration for mySupermarket came from Sternââ¬â¢s bargain-obsessed elderly relative; who would scour the aisles of Tescoââ¬â¢s to find his favourite tin of baked beans, jot down the price and travel to competitor stores to try and find a better deal. Stern identified the growing interest in online grocery shopping and felt that it was an area that could be exploited (Fig. 1). Figure 1: Mintel Intelligence ââ¬â Online Grocery Data Stern spent 18 months before the launch developing the software and tweaking the concept (Fig. 2). Figure 2: Adaption of Martin et al., 2005: 193 The data warehouse was developed through ââ¬Ëcrawlingââ¬â¢[3] the four supermarket websites and adding product pricing, promotion and availability data to the warehouse. Once this data was implemented in the warehouse, proprietary technology and SQL software allowed mySupermarket to match identical SKUââ¬â¢s across retailers. This data was also used in developing its CRM strategy through the use of ââ¬Ëcookiesââ¬â¢[4] to store data in the customers computer using the functionality of their browser to find out whether the computer has visited the site before and what SKUs they purchased. ââ¬Å"This enables us to operate an efficient service and to track the patterns of behaviour of visitors to the website.â⬠ââ¬â mysupermarket.co.uk. The feature enables mySupermarket to utilize this information by creating functions such as a ââ¬ËRegular Shopââ¬â¢ button, saving customersââ¬â¢ time on their shopping. mySupermarket ââ¬â Problems Many problems can arise through the use of data warehousing, both technically and commercially. According to Mintel Intelligence (2009), ââ¬Å"Consumer loyalty is fairly low in the [price comparison] market ââ¬â with more than 14 million people (c.58% of market) having used three or more different price comparison sitesâ⬠. Underlying these efforts was the recognition that, to succeed with this strategy, it must know its customers exceptionally well and leverage that knowledge in website design, service and interaction with their clients. mySupermarket would therefore have to find a strategy to retain a ââ¬Ëloyal customer baseââ¬â¢ in a notoriously disloyal sector. Kimball & Ross (2002) state that a common pitfall of data warehousing is to ââ¬Å"presume that the business, its requirements, analytics, underlying data and supporting technology are staticâ⬠ââ¬â an early problem mySupermarket encountered was the variation in regional pricing and a growing demand for ââ¬Ëreal-timeââ¬â¢ data. Another problem with data warehousing is ensuring the integrity of data, this is typically a human procedure and so subject to human error. Even the most sophisticated data mining systems cannot produce good analysis from poor data. A good illustration of this is from Blastard and Dilnot ââ¬ËThe Tiger That Isnââ¬â¢tââ¬â¢ where a hospital survey found that an alarming amount of patients were being born on the 11th November 1911. Further investigation showed that nurses often would not fill in patient files properly and to save time, when asked to enter patient D.O.B. they would type 11/11/11 into the database. No matter how intelligent a computer system is, if you put ââ¬Ëgarbage-inââ¬â¢ you will get ââ¬Ëgarbage-outââ¬â¢. Beynon-Davies (2004) states that data warehousing projects are large scale development projects typically taking up to three years to complete. Some of the challenges of such problems may include; selecting, installing and integrating the different hardware and software and also, the diverse sources of data feeding a data warehouse introduces problems of design in terms of creating a homogenous data store. Finally, as with all comparison sites, the major obstacle facingà mySupermarket was generating a sustainable revenue stream from the database they had accumulated. mySupermarket.co.uk did not generate any revenue 5 months after the website went live. Originally, mySupermarket didnââ¬â¢t operate a ââ¬Ësearch advertisementââ¬â¢ scheme (a central platform for companies such as Google eg, BP paying for advertising of their oil spill cleanup when people typed in ââ¬Å"BP Oil Spillâ⬠ââ¬â G. Cheeseman, 2010) . There are also no revenue-sharing agreements in place with the four stores whose prices it monitors in effort to remain independent. This, in part, may stem from mySupermarketââ¬â¢s limited market, consisting of ââ¬Ëa comparison of groceriesââ¬â¢. mySupermarket recognised that they would have to expand their focus if they were to generate a large enough turnover to operate a successful business. mySupermarket ââ¬â Technological Impact The first problem mySupermarket addressed was the industries poor ââ¬Ëcustomer loyaltyââ¬â¢. They decided to attack this through the implementation of a CRM strategy. After the initial launch, mySupermarket was receiving feedback from customers regarding such things as; healthy options, promotions on offer, printable shopping lists and regular shops. mySupermarket realised that the information stored in their data warehouse could be exploited to meet these demands and increase customer utility. Subsequently, a Health Checker feature was launched based on the Food Standard Authorityââ¬â¢s approved ââ¬Ëtraffic lightââ¬â¢ system. In November 2008, the mySupermarket ââ¬ËQuick Shopââ¬â¢ function was added, allowing users to type their shopping list on a virtual notepad and find their required items in one go. ââ¬Å"As delivery slots started running out towards Christmas we also introduced a new ââ¬Ëprint your shopping listââ¬â¢ feature, which was popular,â⬠said Stern. ââ¬Å"A lot of our shoppers are using the website as a quick way to find the best deals and are then going to the supermarket to make their purchasesâ⬠. Recent analysis of visits shows mysupermarket.co.uk has a loyal repeat following, with Stern claiming visitors are spending an average of 20 minutes on the site. ââ¬Å"Until recently, there were few viable tools to provide real-time data warehousing nor an absolutely current picture of an organizationââ¬â¢s business and customerâ⬠J. Vandermay (2001). To combat the problem of achievingà real-time and regional data, mySupermarket used Microsoftââ¬â¢s SQL software[5]. Most data integration solutions focus on moving data only between homogeneous systems and database software. However, SQL integration is capable of moving data among a wide range of databases and systems. It also offers transformational data integration tools to consolidate and synchronize heterogeneous data into a warehouse. This allows consumers to view whether a certain item is in stock in their local store, or view delivery slots for their specific region. This real-time data saves the mySupermarket team having to continually update the warehouse manually. Fortunately for mySupermarket, their website ââ¬Ëcrawlingââ¬â¢ technique allows them to take the SKU data directly from the supermarkets themselves. Therefore data will only be wrong, if the supermarket has made the mistake (so would have to sell the item at that price) and so mySupermarket would not be liable. Although Stern took half the time recommended by Beynon-Davies, the warehouse has had to be continuously tweaked since its launch. After its launch mySupermarket noticed a data stream that wasnââ¬â¢t being filtered into the data warehouse ââ¬â calories. After the realisation, mySupermarket were able to add a ââ¬Ëcalorie counterââ¬â¢ function on to the website. For any business to survive, it needs to generate a revenue stream to achieve a sustainable cash flow:mySupermarket were able to negotiate with supermarkets a commission of à £5 for every ââ¬Ëfirst-time buyerââ¬â¢ that shops through their site and à £1 every time thereafter. Other sources of revenue came from the use of advertising, which could be split into two different segments on-site and search-related advertising. Marks & Spencer (Fig. 3) are one company that has chosen to advertise with mySupermarket.co.uk as the content is relevant and it is independent from the four supermarkets being compared. Advertisers will typically pay $1.00 ââ¬â $1.50 per 1,000 run-of-site impressions for the advertising placement. However, advertisers may pay even more for targeted sidebar advertisements. Search advertisements are targeted to match key search terms entered on the search engine, these products (advertisements) will then appear first in the search. Danone (Fig. 3) hasà pa id for advertisement when the search term ââ¬Ëyoghurtââ¬â¢ is entered, and so their umbrella brands (eg, Activia) show at the top of the list, increasing its probability of being bought. Figure 3: mySupermarket.co.uk ââ¬â advertising example Due to the amount of data mining available to mySupermarket, an opportunity was identified for expansion, called ââ¬ËmySupermarket insightsââ¬â¢. It acts as real-time B2B data service for the ââ¬ËFast Moving Consumer Goodsââ¬â¢ (FMCG) sector. As mySupermarket has access to SKU by SKU trends, it is able to offer extremely high level, intelligent data. The services it offers include; New Product Development (NPD) alert reports, Online auditing reports, Price comparison reports, Product substitution report and Customer profiling reports (allowing for further use of CRM through ââ¬Ëcluster analysisââ¬â¢[6]). This sort of information is of high value to companies and a subscription to the service can range from à £5,000 ââ¬â à £20,000p.a. (current clients include Kelloggââ¬â¢s, Innocent Smoothies, Nielson and Ellaââ¬â¢s Kitchen). Finally, mySupermarket is often contracted by media companies, such as ââ¬Ëthe Independentââ¬â¢ to analyse trends for news stories ââ¬â J. Burchill (2010). I feel that information is now widely recognised as being one of the key corporate resources, needing to be carefully managed so that it can be effectively utilised in the decision-making process. Timely, accurate and relevant information can only be generated, however, if corporate data is stored in a secure, accessible and flexible manner. The following table provides a summary of the impact that data warehousing technology had for mySupermarket: Figure 6: Technological Impact Summary mySupermarket ââ¬â Conclusion To conclude, data warehousing has enabled mySupermarket to overcome issuesà such as customer retention, real-time data and generating revenue. It really does appear that ââ¬Å"information is keyâ⬠, whereby data is the prerequisite for information. J. Poole et al. (2003) state ââ¬Ëâ⬠¦ the underlying economic justification is ultimately based on the value a given technology provides to the customers of the computing systems and software productsââ¬â¢ and so the determinate of mySupermarketââ¬â¢s success is essentially based on ââ¬Ëwhether people use the technologyââ¬â¢ and ââ¬Ëthe value of the companyââ¬â¢. Based on an monthly unique user level of 1 million, and 500k registered users turning over c.à £10m, we can assume that at this point in time mySupermarket is justified economically. On the other hand, you could argue that mySupermarket is a ââ¬Ërecession businessââ¬â¢ and not a sustainable enterprise. In which case, the rapid growth in recent years could be due to the economic climate and not because there is a long term demand. Looking towards the future, ââ¬Å"Our investors have international ambitions,â⬠Stern said. ââ¬Å"They see the potential of transporting the model to different markets.â⬠mySupermarket are looking to expand the companyââ¬â¢s development team to support its entry into Europe and the US. mySupermarket are currently looking for another round of funding to bridge G. Murrayââ¬â¢s (1994) second equity gap. Technology firms often require ââ¬Ëfollow on development fundingââ¬â¢, as cash is heavily plowed into ââ¬ËPrototype testingââ¬â¢ and ââ¬ËResearch & Developmentââ¬â¢. In terms of an exit, mySupermarket would be very attractive to major FMCG companies such as P&G, Unilever and Kraftââ¬â¢s venture arms. I believe that mySupermarket will achieve their second round funding as they are now profitable and have a proven concept that has high growth prospects for the future. Over the past few years there has been a huge growth in the use of ââ¬Ënumbersââ¬â¢ and ââ¬Ëanalyticsââ¬â¢. Businesses are recognising that it is not enough to work harder than the competition; they also have to work smarter. Davenport (2006) argues that it is ââ¬Å"virtually impossible to differentiate yourself from competitors based on products aloneâ⬠and so to pull ahead of the pack, businesses need to compete on analytics. In which case, ââ¬ËmySupermarket insightsââ¬â¢ is poised in a perfect position to capitalize on this new thirst for ââ¬Ëbusiness intelligenceââ¬â¢, whereby companies feel thatà they will have to subscribe to the service to compete on an even playing field. However, it is not enough to just store data, it has to be managed, analyzed, implemented and utilised to convert raw data into real information. mySupermarket realised the benefits of data warehousing and were able to exploit this, expanding from a mere ââ¬Ëprice-comparison siteââ¬â¢ to a ââ¬Ëbusiness intelligence providerââ¬â¢ to major FMCG companies. I believe that with the current shift towards analytics and business intelligence, mySupermarket has the potential to be a major force in the FMCG sector whilst offering a greater transparency for customers, all of which stems from good management and data warehousing. References: Beyon-Davies, P (2004) ââ¬â Database Systems, 3rd edition, Palgrave, Basingstoke, pp. 527-538 and 547-553 Bose, R (2002) ââ¬â Customer Relationship Management: Key concepts for IT success, Vol. 102, No. 2, pp. 89-97 Blastland, M & Dilnot, A (2007) ââ¬â The Tiger That Isnââ¬â¢t: Seeing a World Through Numbers Burchill, J (Aug 2010) ââ¬â The Independent: So the Prince of Green Hypocrites is going on tour. Thank God Iââ¬â¢ll be abroad Cooper et al. (2000) ââ¬â Data Warehousing Supports Corporate Strategy at First American Corporation Vol. 24, No. 4 Champion, D & Coombs, C (2010) ââ¬â Handout: BSC070 Enterprise Information Systems Cheeseman, G (June 2010) ââ¬â Triple Pundit: Is It Ethical For BP To Buy Oil-Spill-Related Google Search Terms? Davenport, T. H (2006) ââ¬â Competing on Analytics IEEE Computer (Dec 1991) ââ¬â Special Issue on Heterogeneous Distributed Database Systems, 24(12) Inmon, W.H. and Kelley, C (1993) ââ¬â Developing the Data Warehouse. QED Publishing Group, Boston, Massachussetts Kimball, R & Ross, M (2002) ââ¬â The Data Warehouse Toolkit: The Complete Guide to Dimensional Modeling, 2nd edition Martin et al., (2005): 193 ââ¬â Managing Information Technology 5th Edition, Pearson Education Inc, pp. 192-195 Mintel Intelligence (Oct 2009) ââ¬â Web Aggregators, UK Murray, G (1994) ââ¬â The Second ââ¬ËEquity Gapââ¬â¢: Exit Problems for Seed and Early Stage Venture Capitalists Perry, J (Nov 2009) ââ¬â Dunnhumby: A lifetime of loyalty? RetailWeek Poole, J et al. (2003) ââ¬â Common Warehouse Metamodel: Introduction to the standard for data warehouse integration Smith, A (1959) ââ¬â ââ¬ËThe Theory of Moral Sentimentsââ¬â¢ Vandermay, J (2001) ââ¬â Considerations for Building a Real-time Data Warehousea
Thursday, January 9, 2020
Management And Leadership Styles In Tesco - Free Essay Example
Sample details Pages: 5 Words: 1470 Downloads: 6 Date added: 2017/06/26 Category Management Essay Type Research paper Did you like this example? The aim of this study is to present the management and leadership styles in Tesco in making strategic decisions for the growth of the organisation. However, interviewing one of the mangers at Tesco also helped in gathering information needed to carry out this research. 1.1.1 STRATEGIC MANAGEMENT Strategic Management is a process whereby the management comes up with strategic ideas and make effective decisions for a goal and plans on how to achieve such goals and objectives for the future of the organisation. Donââ¬â¢t waste time! Our writers will create an original "Management And Leadership Styles In Tesco" essay for you Create order Strategic Management consist of the decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organisation and its environment, to enable it achieve organisational objectives, Tim Hannagan (2002). 1.1.2 LEADERSHIP Leadership is the bringing together of a group of people and directing them to achieve a common goal. According to James B. Rieley (2006), leadership is all about creating environments in which your company employees can realise their individual and collective potential. There are three main types of leadership namely: the authoritarian leadership which is also known as the dictatorship and this type orders its followers to do various task, democratic leadership allows the group share in decision making and the last one laissez faire leadership a French word which means do it as you like. 1.1.3 THE LINK BETWEEN STRATEGIC MANAGEMENT AND LEADERSHIP Strategic management focuses on making strategic decisions and leadership implements the decisions that have been made by the management through effective communication to the employees. Leadership engage in evaluation of staff performance for efficiency, they supervise and allocate assignments to their employees and also motivate and reward good performance through recognition leadership by example so that they produce quality work. The strategic management form the mission, values and policies of the organisation. They are the strategic thinkers and strategic decision makers and under them they appoint the CEOs, MDs, President Etc. to run the organisation. These people are considered the key people in strategic management and most responsible for the growth of the company. Success in business stems from good quality management first of all and then the effectiveness in implementation which depends on the skills of leadership, influencing, communication and motivation, John Adair (2008). 1.2 MANAGEMENT AND LEADERSHIP IN TESC O One of the most popular theories of leadership is the transformational leadership and it means that the leader has vision and passion to achieve great things. 1.2.1 VISION AND MISSION Terry Leah emerged as the C.E.O of the Tesco company in 1997 and he is considered to be a visionary leader that changed the structure of the organisation, Tesco (2010).The company became more focused at achieving its aim on providing quality goods and services to its customers and to develop the companys workforce by identifying the performances of the employees and training them to be a leader. The vision and mission plays an important role in an organisation. The aim of Tesco is to continue to lead in the retail market across the globe and by focusing on this it sets long term objectives and makes strategic decisions on how to achieve its goals with the help of effective leaders. The mission of Tesco on the other hand, is to continue to provide to its internal and external customers by doing the little things that matter thus their mission statement Every little helps. However, it is the responsibility of the managers of each store to lead and motivate the team in order to deliver Tescos promise to its customers. The management believes that the success of a leader depends on maintaining a happy workforce in the organisation by giving a work that is interesting to do, a chance for the employee to move on in life, a manager who will help the employees by identifying their performances and to respect them, Tesco (2010). The well-established strategy for growth has made Tesco gain more advantage over its competitors and made them highly productive and profitable. Furthermore, Tesco values its employees by offering them competitive pay and opportunity to develop a long- term career with good training which keeps the people committed and excited in working in the organisation. They give a performance review by identifying the problems and giving support directing the employees to meet their goals. Tesco takes its employees very important in the organisation as they all work together to support the development of the organisation. They also are determined to look after their employees in a way they are expected to deliver to the customers. Tesco also established an academy which is named Tesco Academy to help groom its employees into becoming future leaders by training them to develop leadership, management and technical skills. 1.2.2 DEMOCRATIC STYLE OF LEADERSHIP IN MANAGING TESCO The management of Tesco adapted a democratic style of leadership which is also known as the participant leadership whereby the employees voices are heard during decision making. The leadership of Tesco motivates the employees and due to this, the organisation continues to provide good services to their customers. It should be noted that the management gives emphasis on the importance of appointing leaders in each department to handle organisational process. The management appoints leadership roles to individuals in the organisation so that everyone is clear about their responsibilities, to implement the strategic decisions through effective communication by having meetings and doing a follow up on the staffs to ensure that they are not drifting away from providing quality services and to ensure that the company operates effectively. The leadership style that is adapted by the management is imitated by the team leaders of each department that are appointed by the managers, which has changed the structure of the organisation. E.g. the duty managers in each store lead the employees making decision every day that supports the operation of the store, the duty managers are experts in duty management and they ensure that all team leaders are fully trained, validated and participative. The managers of each store carry out daily and weekly audits to identify and resolve issues in the organisation and also perform operational routine which involves the process to deliver great store standard, better availabilities and great service for customers. As the management style of Tesco is democratic therefore their way of operating is decentralised and information is passed from the higher management to the lower employees and everyone is free to speak and allowed to initiate and contribute effective ideas for the growth of the organisation. The Tesco management empower their employees and they are considered an important asset to the organisation. Tesco motivates em ployees by giving them rewards and benefits like offering a whole package of other ways to make more money, safeguard their future and look after their health by providing paid holiday, a staff discount card which is issued after one year service and an award winning pension scheme. To improve the management process in Tesco, the leadership style of Tesco also operates a customer management whereby they listen to their customers voice for a better service in the organisation. Tesco is customer oriented and they try to always keep up with their customers by satisfying them and producing what they need. 1.3 ADAPTION OF LEADERSHIP STYLES AT TESCO IN VARIOUS SITUATIONS Tesco has been able to adapt the democratic style of leadership because of the flat structure that enables every staff to be a part of the success of the organisation. The management and leadership style in Tesco has shown its effectiveness in supporting the organisation to continue to grow. At Tesco they are committed to helping their staffs find the best job, hours and support to suit their needs. Whether it is religious requirements, support for illness or disability or for any other reasons the management understands and tries to be flexible in order to carry the employees along in any strategic change. High performance management is an important factor in Tesco, everyone has a role to play and each role is aimed at making sure the best is done for every customer. However, the strategies of Tesco has given them an edge over their competitors and even made them grow well through the economic recession. Therefore, in order for Tesco to focus and keep up with continuous grow th the managers use other types of leadership styles like the autocratic style just to ensure that the employees carry out the task at a given time. 1.3.1 CONCLUSION From my research, the success of Tesco shows that the culture, structure and management style of the organisation is flexible, flat and power is decentralised, everyone has the right to speak and the voices of the employees are heard. Focusing on their long term strategies has helped them to continue to grow stronger for the future. However, the democratic style of leadership in Tesco has made the organisation continue to lead in the retail market.
Wednesday, January 1, 2020
The Key Functional Areas Of Human Resource Management
Assignment 1: Trends in the Workplace Dr. Queensberry HRM 500 ââ¬â Human Resource Management Foundations Kazmira Davis November 2, 2017 Introduction Human resource management (HRM) is concerned with the personnel and managerial practices and systems that influence the workforce. All decisions that affect the workforce of the organization concern the HRM function. The activities involved in human resource management functions are universal throughout any organization. This paper will discuss the key functional areas of human resource management and how each function contributes to the overall performance of an organization. An examination of the four federal equal employment opportunity là ¬Ã ¬Ã ¬aws and how each law influences fairâ⬠¦show more contentâ⬠¦After the job analysis is completed the next process within the analysis and job of work function is job design. Job design is defined as ââ¬Å"the process of defining the way work will be performed and the tasks that a given job requiresâ⬠(Noe, 2014). It pertains to outlining and organizing tasks, duties and responsibilities of a job. Job design outlines the job responsibilities clearly and precisely and also helps in attracting the right candidates to the right job. ââ¬Å"Based on job analysis and design and organization can determine the kinds of employees it needs. With this knowledge, it carries out the function of recruiting and hiring employeesâ⬠(Noe, 2014.) Another functional area of HRM is recruitment and selection. During the recruitment process an organization find and attract applicants for employment. Selection involves an organization selecting the qualified applicants that applied to the open position. The recruitment and selection process begins when new recruits are sought and ends when their applications are submitted. The result is a pool or large number of applications from which new employees are selected. Companies use various job boards like Indeed, CareerBuilder, Monster, or LinkedIn to post job vacancies and to recruit potential applicants. The interview is a part of this process as well which result in an applicant being hiredShow MoreRelatedKey Functional Areas Of Human Resources Management1144 Words à |à 5 Pages Specify the key functional areas of Human Resources Management. Explore the manner in which each function contributes to the overall performance of an organization. Support your response with specific examples of the activities for which HRM is typically responsible. There are 5 key functional areas of Human Resources Management; Staffing, Human Resource Development (HRD), Compensation and Benefits, Safety and Health, Employee and Labor Relations. 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