Product analysis of Nestle

Product analysis of Nestle Nestlà © is the largest food company in the world, marketing over 8,500 brands and 30,000 products. It operates nearly 500 factories across 5 continents and employs over 200,000 employees worldwide. As the World Food Company, Nestlà © is the provider of the best food for whatever time of day and for whatever time of your life. Nestlà © RD Singapore plays an important role in the development of products for Nestlà © Nutrition, with focus on creating products with micronutrient fortification to address deficiencies. Nestlà © has an extensive product mix targeted at many different segments of the market. The chosen product category for in-depth analysis is Nestlà © milk products, which is targeted at parents of young children (age 1 5) and health conscious adult consumers who desire to retain heart and bone health. In the adult category in specific, the functional milks offer a range of functional benefits, from cholesterol management and heart health to bone health. A product mix is the set of all products a particular seller offers for sale. A product mix consists of various product lines and has a certain width, length, depth, and consistency. The table below shows the product-mix width and product-line length for Nestlà © products in Singapore. Product-Mix Width Baby Foods Milk Cereals Chilled Dairy Ice Cream Confec-tionery Choco-lates Beverages Culinary/ Foods Healthcare Nutrition Perfor-mance Nutrition Pet Care Product Line Length Junior Foods Growing Up Milk Breakfast Cereals Yogurt Drink Drumstick Kit Kat Milo Maggi Noodles Nutren PowerBar ALPO Dog Food Infant Cereals Full Cream Milk Yogurt MatKool Milkybar Nescafe Maggi Porridges Peptamen Pro Plan Dry Food Adult Milk Take Home Tubs Crunch Maggi Stock Nestle Ice Cream Smarties Sauces Seasonings Potong Milo Yang Sheng Le Nestle Gold Recipe Collections Uncle Tobys The width of a product mix refers to how many different product lines the company carries. Nestlà ©s range of product lines includes baby foods, milk, cereals, dairy products, confectionery, ice cream and chocolates, culinary foods and pet care products. Nestlà © also provides a broad range of nutritional and flavored beverages and offers product line with specific nutritional functions. The length of a product mix refers to the total number of items in the mix. Nestlà © had an average product length of 2.8. Within the range of Nestlà ©s milk products include growing up milk, full cream, filled milk and adult milk. The depth of a product mix refers to how many variants are offered of each product in the line. For instance, Nestlà © adult milk comes in two functional forms (bone and heart health). The consistency of the product mix refers to how closely related the various product lines are in end use, production requirements, distribution channels, or some other way. Nestlà ©s product lines are consistent insofar as they are consumer goods that go through the same distribution channels. Company can expand its business in four ways: it can add new product lines, thus widening its product mix; it can lengthen each product line; it can add more product variants to each product and deepen its product mix; or it can pursue more product-line consistency. To reach our targeted market, Nestlà © can add new product line in the area of elderly health food, thus widening its product mix. In Singapore, the National Mental Health Survey (NMHS) conducted in 2003 reported a prevalence of dementia among the elderly as 5.2% for > 60 years, 6.0% for > 65 years, and 13.9% for > 75 years. Health Minister Khaw Boon Wan expects the numbers to double by year 2020. According to research, nutritional deficiencies in elderly are one of the factors influencing their cognitive functioning. In the article Many over-50s not eating properly (The Straits Times, September 2, 2010), the columnist shared a recent survey results indicating that older Singaporeans are not getting enough nutrition, with only 1 per cent of 421 respondents aged 50 years old and above have a balanced diet that meets the recommendations of the Health Promotion Board (HPB). Contrary to common belief, dementia is not an inevitable part of the ageing process and preventive and protective factors can help reduce the risk or delay the onset of dementia (Health Promotion Board). The best way to fight dementia is to maintain a good cognitive function and having a healthy and balanced diet is essential. There is a growing need and market for Nestlà © to produce brain-healthy functional foods targeted at the segment of the silver market who desire to retain memory, brain health and have a balanced diet. In Singapore, although there are already a number of brain health supplements targeted at the elderly, fortified food products aimed at this group are lacking. The first reason why Nestlà ©s product may be modified to reach the targeted segment is because Nestlà © Research Centre (NRC) is internationally renowned for its work in the food and nutritional sciences. For instance, as milk is particularly sensitive to heat, Nestlà © developed a soft sterilization of milk that protects the delicate amino acid, lysine and etc in their dairy products. In the article Brain food (The Business Times, December 02, 2009), Fernando Gomez-Pinilla, a professor of neurosurgery and physiological science at UCLA Medical School shared his findings on how dietary factors affect brain function. And he emphasized that Omega-3 fatty acids, with DHA are essential for normal brain function, and has been proven to enhance synaptic plasticity. Through Prof Gomezs exploration, he has proven that folates and antioxidants also helped reduce age-related decline in cognitive function. Presently, Nestlà © offers different milk products fortified with iron, zinc, vitamin A and other micronutrients aimed at addressing specific health deficiencies and they have existing product such as NESTLÉ ® NAN ® infant milk formula that contains DHA and ARA, two important ingredients that support brain development of young children. Nestlà © Research teams can work on improving the ingredients used in their existing products and offer milk products fortified with Omega-3 fatty acids, folates and antioxidants aimed at maintaining the cognitive function of the aging population. What is needed is a marketing effort, advertising the new range of products as brain-boosting functional food to the elderly. Next, Nestlà © had distinctive product lines catering to the needs of infant, young children; adults who are concerned with their health; and athletics who wants a performance boost. Nestlà © RD Singapore has always been focusing on creating products with micronutrient fortification to address deficiencies, therefore, with Nestlà ©s expertise in the field and food and nutritional sciences, they can aim to develop an additional product line with a range of milk products cater for the management of elderly health, besides, the development of brain healthy fortified food is for the benefit of the aging population in Singapore. In the longer run, Nestlà © can also introduce a range of new food products such as elderly snacks, healthy food and drinks and healthier culinary products with a different positioning and target the different segments of the silver market. Question 2 (18 marks) In this section, I will move on to discuss how Nestlà © currently makes use of the marketing mix concepts of pricing, promotion and distribution channels to reach its key target market for Nestlà © adult milk products in specific. Their adult milk products are targeted at health-conscious adult consumers who desire to retain heart and bone health. Price is the one element of the marketing mix that produces revenue and communicates to the market the companys intended value positioning of its product or brand. Nestlà ©s consumers range from the poorest to the wealthiest, and those seeking for convenience food or specific alternatives with perceived consumer benefits. These offer opportunities for them to provide high quality nutritious products. (Nestle Management Report, 2007). Nestlà © has adopted value pricing through winning loyal customers by charging a fairly low price for a high-quality offering. For instance, Nestlà © targets the lower income group through their Popularly Positioned Products (PPP) strategy, which focuses on creating items that are both highly nutritious and affordable on a daily basis for low-income consumers. Value pricing involves re-engineering their companys operations to become a low-cost producer. Nestlà © set strategic price points for their products, considering the fact that those with lower incomes have an even greater need for highly nutritious foods. (Nestle Management Report, 2007). Nestlà © had developed product lines rather than single products and introduce price steps, known as their multi-price point strategy, aimed at capturing all market opportunities. In this way, their targeted consumers are able to trade up and down without trading out of Nestlà ©s products. An illustration of their multi-price point strategy for a packet of 900g of adult milk within the product line is estimated as follow: Nestlà © also stimulate purchase of their milk products through various promotional pricing. For instance, the Nestlà © milk powder promotion at FairPrice offers a redemption of $10 NTUC FairPrice gift vouchers when customer accumulate $100 worth of Nestlà © milk powders purchase. The promotion encourages purchase of Nestlà © milk products within a specified time. Nestlà © also establish special prices in certain events to draw more customers. Nestlà © had an unmatched geographic presence in many markets, including emerging markets. Nestlà © has created very close relationships between their brands and their consumers as well as an in-depth understanding of their consumers and an expertise in related trends. This has also enabled Nestlà © to develop local management teams, build local manufacturing and RD and establish local supply-chain initiatives including long-term relationships with suppliers. Internationally, Nestlà ©s milk product is available in more than 100 countries throughout the World. (Nestle Management Report, 2007) Nestlà © used intensive distribution strategy by placing their milk products in as many outlets as possible, knowing that their targeted consumer requires a great deal of location convenience. Intensive distribution increases product availability. In Singapore, we can find Nestlà ©s milk product in popular outlets like convenience stores, pharmacies, and all leading supermarkets. These places are situated within 10 minutes walking distance from consumers homes. Marketing communications is the means by which firms attempt to inform, persuade, and remind consumers about the products and brands that they sell and Nestlà © enhance consumer communication with nutritional messaging. The marketing communications mix consists of six major modes of communication: advertising; sales promotion; events and experiences; public relations and publicity; direct marketing; and personal selling. Advertising can be used to build up a long-term image for a product or trigger quick sales. Nestlà © employed the used of various media and methods to promote their milk products. Just recently, they started an integrated print/radio ad for Nestlà © Nesvita Omega plus Acticol milk, advertising it as Singapores 1st and only milk with plant sterols which are shown to lower blood cholesterol. Consumers have been hearing on the radios and seeing in the papers about the benefit of having a lower cholesterol levels associated with consuming Nesvita Omega plus Acticol mi lk daily. Nestlà © also drew attention to their products by arranging special events. Nestlà © held a health exhibition Nestlà © Presents Health and You 2010 which caters for the young and old. They had activities which appealed to all in the family at the event, including free cholesterol and bone density checks by Nestlà © Nesvita Omega plus Acticol for the health conscious and health seminars and talks by health professionals, nutritionists and doctors. In addition, Nestlà © had a strategic partnership with Singapore Heart Foundation (SHF) known as Love Your Heart. The partnership allows Nestlà © to carry the SHF logo on the Nestlà © Omega Plus range, endorsing it as the preferred adult milk choice as it has the added benefit of heart health as well as calcium for bone health. Nestlà © also promotes heart health through the media, such as the Cholesterol Challenge in which the public are invited to lower their bad cholesterol. By becoming part of a special and more personally releva nt moment in consumers lives, Nestlà ©s involvement with events broadened and deepened the relationship with their target market. Question 3 (28 marks) The brand name for our new product is Nestlà © MindFit Silver, a fortified milk powder offering benefits as follow: maintain the cognitive function of elderly by slowing down and stabilizing age-related brain decline and provide specific nutritional food value for a balanced diet. Our target segment of the silver market for the Nestlà © MindFit Silver is elderly who desire to retain memory, brain health and have a balanced diet. This segment can be described demographically by age (50-55 and older). Nestlà © strategy is based on a positioning of product differentiation. Product is the first and most important element of the marketing mix. Packaging is a major styling weapon that provides the buyers first encounter with the product and is capable of either turning the buyer on or off (Kotler et al, 2009). Packaging is defined as all the activities of designing and producing the container for a product. We will introduce elegant gold and silver-trim packaging container as we wanted a sophisticated-looking package that reflects the quality of Nestlà © MindFit Silver. A good packaging helps to identify our brand and convey descriptive and persuasive information to our target consumers. Functionally, structural design is crucial. We make out that resealability, freshness and easy-to-open and close packaging are of huge importance to the elderly consumers, and has incorporated these packaging innovations in our new product. The label on our package will carry our brand name, logo and the Nestlà © nutritional compass that provides our consumers with tips and nutritional facts that guide them towards informed choices about their diet. We will also have a picture of a sharp-looking senior ambassador in his 50s on the product label; this makes it easier for the elderly to distinguish our product from other brands on the shelves. Pricing decisions must be consistent with the firms marketing strategy, target markets, and brand positioning. The Nestlà © MindFit Silver will be introduced at $18 estimated retail price per 400g tin and we will use several pricing techniques to stimulate purchases. In the first 6 months of product launch, we will offer a cash rebates of $4 to draw more first-time customers. We expect to come up with more variations of the Nestlà © MindFit Silver, such as cereals, infusion of more flavorings and priced them differently to meet the needs of more consumers. We will also establish special prices in conjunction with HPBs dementia campaign to draw more customers. Marketing channels are sets of interdependent organizations involved in the process of making a product available for use or consumption. Our channel strategy is to use selective distribution, marketing Nestlà © MindFit Silver through Hospital pharmacies, selected Unity Pharmacies, Guardian and Watsons stores, selected NTUC Fairprice, and selected Cold Storage outlets. By doing so, we can gain adequate market coverage with more control and less cost than intensive distribution. As we are targeting the elderly consumers, we implemented home delivery as an additional point of access. This is because we understand that some elderly has difficulty going out to buy groceries due to health problems. Since the awareness of nutrition service for cognitive health is our objective, other channels of distribution could include local broadcast media or public forums at community centre. Place should take into account the convenience of the product to the consumer and where the consumer can obta in it most readily. In support of channel partners, we will provide full-color posters displaying the picture and key benefits of Nestlà © MindFit Silver. Our training staff will work with retail sales personnel to explain the benefit of the product. Finally, we plan to arrange special payment terms for retailers that place volume orders with us. Marketers need to creatively employ multiple forms of communications to effectively reach and influence target markets. The marketing communications mix consists of six major modes of communication: advertising; sales promotion; events and experiences; public relations and publicity; direct marketing; and personal selling. We will make use of advertising; sales promotion; events and experiences; public relations and publicity to market Nestlà © MindFit Silver to the targeted segment of the silver market. We will start an integrated television, print and radio ads targeting the elderly. TV advertising is an effective means of vividly demonstrating our product attributes and persuasively explaining their corresponding benefits to the elderly. Our TV ad will show a smart looking elderly man sharing with his friends about the benefits of Nestlà © MindFit Silver, and how the milk product help him to stay sharp and alert. This is a creative way to reinforce the message that Nestlà © MindFit Silver help maintain the cognitive functions in elderly. Out print ads on newspaper and magazines can provide much more product details and can also effectively communicate user and usage imagery. Our radio ad will add a tag line promoting the Nestlà © MindFit Silver as a brain healthy food for the aged parents. As the multimedia advertising efforts continues, we will also distribute new point-of-purchase displays to support our retailers and increase the number of spontaneous buying decision. We will add consumer sales promotions such as distributing samples to elderly at the store and we will organize contest offering prizes such as cash and holiday trips as a result of purchasing our products within the specified time period. We will also participate in the 50plus Expo, a consumer fair for the elderly organized by the Council for Third Age. The expo is targeted for those aged 50 and above and is devoted to shopping, performances, talks, demonstrations and more. We will educate consumers on the benefits of drinking Nestlà © MindFit Silver as a daily healthy beverage and at the same time, generate channel support for our product launch. Nestlà © has been actively involved in sponsorships of a variety of causes. A sponsored event must meet the marketing objectives and communication strategy, and the audience delivered by the event must match the target market of our product. Nestlà © will sponsor the Health Promotion Board (HPB)s Dementia Awareness Campaign. To raise awareness of dementia, HPB has air on Channel 8 and Suria a short film on dementia that is being directed by local director, Royston Tan. Other activities in conjunction with the campaign include informative talks held at Tan Tock Seng Hospital, shopping centre, hotels, and public library. Nestlà © can strategically identify itself at the events using banners and signs advertising Nestlà © MindFit Silver as the top brain food choice for active seniors. Nestlà © will also provide free product samples at the events to generate buying crowds. Social network such as Facebook has become an important force in marketing. A key aspect of social networks is word of mouth. Consumers talk about dozens of brands each day and Facebook offer exposure and the targeted market are more likely to spread the brand message. IT classes have opened up a whole new world for the elderly who learn how to surf internet and use Facebook and these elderly are becoming more internet savvy and Facebook is a popular social network among them. To reach our targeted market, we will set up a Facebook page for Nestlà © MindFit Silver, and will post updates on our latest promotions, contests, events and generate thread discussion. Our aim is that more elderly can be linked to our Facebook page, to learn more about our products, and share their feedback on our product. We believed that an integrated marketing communications (IMC) can produce stronger message consistency and greater sales impacts as it forces management to think about every way the customers comes in contact with our product. IMC should improve our companys ability to reach the right customers with the right messages at the right time and in the right place. (Kotler et al, 2009).

Do Thin Models Warp Girls’ Body Image?

â€Å"Do Thin Models Warp Girls’ Body Image? † Nanci Hellmich’s â€Å"Do Thin Models Warp Girls’ Body Image? † published in Elements of Argument summarizes the effects models’ images have on young girls. Hellmich brings to our attention the influence models have on the female mindset. Psychologist, Sharon Lamb, points out that it is perfectly normal that girls want to look good, but it should not be their main focus (706). Many of the models developing a serious eating disorder, is portraying to young girls that having an eating disorder or being extremely thin is the standard way to look (706).The issue of body image is one, which grows greater as the years go on. An ex-Victoria Secret model was â€Å"shocked† by how thinner their figures are becoming (705). From a very young age, girls are hit from every direction to have a thin body. Whether it is television, movies, or magazines. Having a tremendously thin body in today’s so ciety is what is expected. Hellmich’s purpose is to show the negative vibe models’ give off to the younger generations of girls. In the world today, girls feel as though if they do not look exactly like the models’ they see all over media, than they are over weight.She also points out that being thin is not the only issue people face. They also face the issue of being overweight, which also affects a person’s health (707). Hellmich does an outstanding job at showing us professional input using ethos. She points out that psychologist and eating-disorder experts think fashion industries have push models into dangerously unhealthy body types (705). Professor of psychiatrics in Chicago states, â€Å"super-thin models can play a role in causing anorexia† (706).The models that young girls of this time are looking up to are pushing themselves to develop a life stopping eating disorder. Pathos is found when we think about how young the impression of what a re bodies are suppose to look like begins. Researchers have found that young girls start getting this message as young as first grade (707). Even at an age as early as that they feel that the culture is telling them that they have to look like a model. Writers for magazines say that girls should not wish to look like the models they envy because they are â€Å"freaks of nature† (707).Sarah Murnen, a professor of psychology, conducted a study with girls ages ten and older on what level they had with their body esteem. More then 6,000 girls had poor body image from the exposure they had to fashion magazines, where as a trivial 18 percent rejected the image of models and felt comfortable with their bodies (707). Hellmich brings out numerous facts on the issue of body image in young girls. Glamour’s points out that they believe that every woman no matter what shape or size deserves respect. They do not run photographs of women who are at an unhealthy weight.Every woman can look wonderful without wearing a smaller size (708). This shows the majority of magazine producers are making it a priority to select women for their magazines who are of all shapes and sizes. The tone of this article is one of concerned and worried. Concern for the younger generations of girls and what they see as beautiful. As the seasons pass, ex-models are noticing the differences in the models weight. Psychologist and experts are beginning to worry about the influence models are having on very impressionable females.Over all, the article’s claims are effective. Showing girls who think looking like an extremely thin model is not the best choice. The terrible measures girls have to take to look like the world is telling them to look, can be dangerous and life taking. Works Cited Hellmich, Nanci, â€Å"Do Thin Models Warp Girls’ Body Image? † Pediatrics, Vol. 114, No. 3, September 2004. Rpt. in Elements of Argument: A Text and Reader. 10th ed. Annette T, Rott enberg and Donna Haisty Winchell. Boston: Bedford/St. Martin’s, 2012. 705-709. Print.

Entrepreneurs Essay Download Pdf - Free Essay Example

Sample details Pages: 5 Words: 1471 Downloads: 5 Date added: 2017/06/26 Category Economics Essay Type Critical essay Did you like this example? Introduction As economies continue to integrate due to globalisation and formally closed economies like India and China march toward total liberalisation, entrepreneurship is on the increase. A close analysis of developed and industrialised economies indicates a common denominator that stands out amongst all of them. This is the most important role played by entrepreneurship and entrepreneurs in such economies. Don’t waste time! Our writers will create an original "Entrepreneurs Essay Download Pdf" essay for you Create order This phenomenon has proved to us that if an economy is to develop fully, entrepreneurship should be allowed to flourish. Therefore it is the objective of this paper to critically analyse the impact of entrepreneurs in any given economy. In this paper the writer will identify and discuss the many benefits afforded to an economy through entrepreneurs and entrepreneurship and the disadvantages of the same and draw conclusions on the overall impact of the entrepreneurs. Innovation Individuals often resort to entrepreneurship for one of the following reasons; they find a market niche and have the solution to profit from such niche; they have been unable to find suitable employment or a suitable means of income and therefore have resorted to using their creativity to generate an income for themselves; or they have the technological know-how and the financial resources (or able to source all of the above) necessary to generate income by satisfying a need in the marketplace. Irrespective of which of the above led an individual to become an entrepreneur it is clear that innovation and creativity is the driving factor and therefore, it can be stated that the biggest impact of entrepreneurs to an economy is the innovative contribution that they make. Job Creation As stated in the previous section, one of the main reasons that individuals tend to become entrepreneurs is because they are unable to find suitable jobs. As a result, by being enterprising, creative and finding a market niche, not only are they able to generate an income for themselves but also to employ other individuals in their business operations. Therefore, one of the most positive impacts that entrepreneurs make on an economy is job creation and the reduction of unemployment levels. In developed countries we see that almost 40 – 50% of the workforce are employed in small and medium scale business enterprises that were started up by very enterprising individuals. Likewise in countries like India, we see that millions of women have been able to pull their families out of poverty through self-employment and entrepreneurship that has been made possible by different Non-Governmental Organisations and due to the availability of such resources through micro finance etc . Africa is another good example of small scale entrepreneurs helping to reduce poverty and helping many to avoid destitution. Therefore based on everything that has been stated above it is apparent that entrepreneurs can cause a great degree of impact on an economy through job creation and income generation. Increased Competition Another positive impact of entrepreneurship on an economy is the increasing level of competition as new entrepreneurs join the fray in existing domestic markets. While one may venture to say that this will only lead to market saturation, the upside of such a phenomenon is that it causes all the players in the market to re-evaluate their operational capabilities, increase value addition, lower costs and become more efficient. Thus it can be stated that competition reduces the likelihood of monopolies and oligopolies in the marketplace and is beneficial to the customer and the economy as a whole. Increased Productivity One of the advantages of increased competition in an economy is that individuals and firms continue to source methods that can better improve their operations, use resources more efficiently and most importantly reduce costs while adding value. All this often results in an increase in productivity in an economy and an increase in the gross domestic product (GDP), which is indeed a benefit for the economy. While opponents tend to state that when productivity increases the unemployment can often increase, thus reducing the positive impacts, it is the opinion of the writer that increased productivity leading to increased unemployment will then cause more individuals to be creative, find niche markets, become entrepreneurs and begin generating more employment opportunities, thus re-inventing the wheel and driving the economy forward. New Markets As stated in the previous section increased competition in the marketplace can cause saturation and as a result many entrepreneurs maybe driven to seek new markets for their products and services or adapt market penetration tactics. Either way such a phenomena of increased competition, which ultimately causes individuals to look for new markets, can be considered as a positive impact on the economy. Therefore, entrepreneurs can be considered to play a very important role in the economy. As integration of economies continues due to globalisation, entrepreneurs often tend to look for markets that are outside of their domestic sphere thus generating foreign revenue and increasing the prosperity of the economy as a whole. While this may be a very simplistic explanation of the impact that entrepreneurs make on an economy, it is also safe to say that the employment generation, increased competition, market expansion, market penetration and sourcing new markets all result in income generation that ultimately help an economy to become more prosperous, drawing millions out of poverty and generating funds for social welfare activities that ultimately uplift the living standards of its citizenry. Negative Impacts of Entrepreneurs The single largest negative impact of entrepreneurs on an economy is the plundering of resources, which can have a disastrous effect on the environment. While such negative impacts are mitigated to some extent in developed economies due to the enforcement of environmental protection standards and regulations, this is not the case in developing economies. Further entrepreneurship requires a certain degree of business knowledge and know how, without which entrepreneurial ventures can often fail, which can also cause many financial hardship that in extreme cases can even lead to destitution. Social Entrepreneurship Today we see the realm of social entrepreneurship growing exponentially which is a very positive sign and has helped to draw millions out of poverty, decrease unemployment, decrease the number of people dependent on social welfare and all in all uplift the living standards and quality of life of millions. Further social entrepreneurship initiatives are also often seen as ‘green initiatives that take into consideration the impact on the natural environment and therefore strives to keep this at a minimum. This increases awareness about such issues, avoids the plundering of natural resources and conserving the environment wherever possible. Therefore, it can be stated that the negative impacts of entrepreneurs on an economy can be mitigated to some extent through social entrepreneurship. Conclusion Based on everything that has been discussed above it is apparent that the positive impacts of entrepreneurs on an economy, far outweigh the negative impacts. Job creation, reduction in unemployment levels, increased competition, opening new markets, increasing productivity, foreign income generation and poverty alleviation are some of the positive impacts that entrepreneurs have on an economy. However, this is not to say that there are no negative impacts such as the wastage and plundering of resources, yet taken as a whole it is apparent that the entrepreneurs positively impact an economy. Bibliography Assudani, R. H. (2009). ‘Ethnic Entrepreneurship: The Distinct Role of Ties. Journal of Small Business and Entrepreneurship, 22(2), pp. 197 206. Boissin, J., Branchet, B., Emin, S., Herbert, J. I. (2009). ‘Students and Entrepreneurship: A Comparative Study of France and the United States. Journal of Small Business and Entrepreneurship, 22(2), pp. 101 – 105. Butler, J. S. Kozmetsky, G. (Eds.). (2004). Immigrant and Minority Entrepreneurship: The Continuous Rebirth of American Communities. Westport, CT: Praeger. Dheeriya, P. L. (2009). ‘A Conceptual Framework for Describing Online Entrepreneurship. Journal of Small Business and Entrepreneurship, 22(3), pp. 275 281. Frith, K., Mcelwee, G. (2009). ‘Value-Adding and Value-Extracting Entrepreneurship at the Margins. Journal of Small Business and Entrepreneurship, 22(1), pp. 39 41. Harman, J. (2008, February). ‘Successful Social Entrepreneurship: the Case of the Eaglehawk Recycle Shop. Journal of Services Research pp. 201 203. Harper, D. A. (2003). Foundations of Entrepreneurship and Economic Development. New York: Routledge. Hart, D. M. (Ed.). (2003). The Emergence of Entrepreneurship Policy: Governance, Start-Up, and Growth in the U.S. Knowledge Economy. Cambridge, England: Cambridge University Press. Light, P. C. (2009, Summer). ‘Social Entrepreneurship Revisited. Stanford Social Innovation Review, 7, pp. 21 23. Menkhoff, T. Gerke, S. (Eds.). (2002). Chinese Entrepreneurship and Asian Business Networks. London: RoutledgeCurzon. Nicholls, A. (Ed.). (2006). Social Entrepreneurship: New Models of Sustainable Social Change. New York: Oxford University Press. Parnell, J. A., Lester, D. L. (2007). ‘Reevaluating the Entrepreneurship-management Conundrum: Challenges and Solutions. Journal of Applied Management and Entrepreneurship, 12(4), pp. 74 77. Wasilczuk, J., Zieba, K. (2008). ‘Female Entrepreneurship in Transitional Economies: The Case of Poland. Journal of Small Business and Entrepreneurship, 21(2), pp. 153 155. Welsch, H. P. (Ed.). (2003). Entrepreneurship: The Way Ahead. New York: Routledge. Williams, C. C. (2009). ‘Beyond Legitimate Entrepreneurship: The Prevalence of Off-the-Books Entrepreneurs in Ukraine. Journal of Small Business and Entrepreneurship, 22(1), pp. 55 61.

6 Factors in Choosing a Public vs. Private Education

What does your child need in order to succeed in attaining the best education for a promising future? This is a personal question that many parents ask themselves when choosing between a public or private education. Whats right for one child or family may not be ideal for another. To help you hone in on the best possible answer, there are generally six factors to consider.   1. What Does the Facility Offer? Many public school facilities are impressive; others are mediocre. The same is true of private schools. Private school facilities reflect the success of the schools development team and that of the school to continue to generate financial support from parents and alumni. Some private K-12 schools have facilities and amenities that surpass those found at many colleges and universities. Hotchkiss and Andover, for example, have libraries and athletic facilities on par with those at Brown and Cornell. They also offer academic and sports programs that make full use of all those resources. It is hard to find comparable facilities in the public sector—they are few and far between. Public schools also reflect the economic realities of their location. Wealthy suburban schools will often have more amenities than inner-city schools, as a rule. If your son is an aspiring football player, then a school with great athletic facilities and coaching staff should be a top priority.   2. How Many Students per Class? According to the National Center for Education Statistics report, Private Schools: A Brief Portrait,  private schools win out on this issue. Why? Most private schools have smaller class sizes, which may be ideal for a student who is easily distracted. One of the key points of private education is individual attention. You need student-to-teacher ratios of 15:1 or better to achieve that goal of individual attention. Many private schools boast class sizes of 10-15 students with 7:1 student-to-teacher ratios. Unlike private schools, a public school system must enroll almost anyone who lives within its boundaries, so generally, there are much larger class sizes—sometimes exceeding 35-40 students at some inner-city schools. However, even a large class can be a suitable learning environment if the students are well-behaved and led by a strong teacher. 3. Can the School Attract the Best Teachers? A schools ability to attract quality teachers is often tied to the salaries the school can afford to pay. Overall, public school teachers are generally better paid and have superior pension programs. Compensation varies widely, however, depending on the local economic situation and school location. For instance, teachers may earn less in Duluth, Minnesota, because its cheaper to live there than in San Francisco. Unfortunately, at some public schools, low starting salaries and small annual salary increases result in low teacher retention. Public sector benefits have historically been excellent; however, health and pension costs have risen so dramatically since the year 2000 that full-time public educators are often being forced to pay a larger share of the cost, while part-time educators may have to pay for it all. While private school compensation tends to be somewhat lower than public—again, much depends on the school and its financial resources—the often free amenities can make up for it. One private school benefit found especially in boarding schools is complimentary housing and meals, which accounts for the lower salary. Private school pension plans vary widely. Many schools use major pension providers such as TIAA. Both public and private schools require their teachers to be credentialed. This usually means a degree and/or  a teaching certificate. Private schools tend to hire teachers with advanced degrees in their subject over teachers who have an education degree. Put another way, a private school hiring a Spanish teacher will want that teacher to have a degree in Spanish language and literature as opposed to an education degree with a minor in Spanish. 4. How Much Will the School Cost You? Since local property taxes support the bulk of public education, the annual school budget exercise is a serious fiscal and political business. In poor communities or communities which have many voters living on fixed incomes, there is precious little room to respond to budget requests within the framework of projected tax revenue. Grants from foundations and the business community are essential to creative funding. Private schools, on the other hand, can raise tuition, and they also can raise significant amounts of money from a variety of development activities, including annual appeals, cultivation of alumni and alumnae, and solicitation of grants from foundations and corporations. The strong allegiance to private schools by their alumni makes the chances of fundraising success a real possibility in most cases. 5. Are There Administrative Issues? The bigger the bureaucracy, the harder it is to get decisions made at all, much less get them made quickly. The public education system is notorious for having antiquated work rules and bloated bureaucracies. This is as a result of union contracts and a host of political considerations. Private schools generally have a lean management structure. Every dollar spent has to come from operating income and endowment income. Those resources are finite. The other difference is that private schools rarely have teachers unions to deal with. 6. What Are the Expectations of Parents? Financial considerations are a major factor in determining if a public or private school is right for your family. However, you need to consider what will be expected in terms of time and commitment from you as well. Most private schools require students to be driven to and from school, and there are significant obligations for students to participate in activities outside of normal school hours. This means a lot of hours and miles for families every week to make it happen. A family needs to weigh the financial costs, time investment, and other factors. Public and private schools have their advantages and disadvantages, but with a little weighing of the pros and cons, you can easily figure out what is best for your child and for your family. Article edited by  Stacy Jagodowski