Essays on Wines

Response Paper

According to Chapter 1 of the Podolny reading, for status to flow through exchange, there is need for the actors to maintain their reputation when it comes to exchange. This means that if an actor in the hierarchy of exchange has earned a good reputation over time, it is not worth ruining for in order to make quick profits from an item whose hype may be short-lived. Maintaining one’s reputation for a service ensures that every actor is able to maintain his or her image and position thereby making sure that the exchange of services flow seamlessly within ...

4. Environmental Analysis 4.1. Operating Factors Some of the common goals in any restaurant regardless of size is the desire to make money, control food and labor cost and to retain employees . A restaurant is one of the toughest businesses to run successfully because of the long hours involved, the high turnover and the relatively low pay when compared to the number of hours. Therefore it is clear that human resource is a critical operating factor. An understanding of the nature of the market is also essential; factors like market saturation and market trends are critical to operating a ...

Organizations apply the analysis of break-even to make price decisions of their products, understand the costs that are involved in the production, and make a decision on the volume of sales achieved that can make the business profitable. In this plan of activities, Mission Hill Wine made total sales of its wine at $12, 500 in 2015 and incurred a variable cost per unit of $700 and a fixed cost of $ 8million. Therefore, the break-even would be determined as: In terms of units, BEP = 8,000,000/ (12,500-700) = 678 units. In terms of sales, BEP =678 units*12, ...

Moonshine! Is an app that is new on the market that aims to make planning a night out easy by alerting its users of when nearby bars and restaurants open and close. The Moonshine! App works by allowing the user to enter their location using a phone’s GPS system, from here, the app provides three main points of information including: which bars are open in the users vicinity; how far away the bars are from the users current location in both distance and in walking time; and of course, how long the selected bars are open, whilst featuring ...

China’s Economic Trends

China is an emerging economy with a GDP of $13.98 trillion and a per capita income of $10,165 (2016). The Chinese economy the biggest after U.S.’s by GDP and the largest by purchasing power parity. China is considered a tiger economy because of its rapid economic growth during the past three decades and has recorded an average growth rate of 9.91% between 1979 and 2010. Currently, the economy is growing at an average annual rate of 6.7% (Wildau and Mitchell). In the past few years, China’s market for wine has expanded dramatically. Wine consumption is a ...

The Strategy battle in the wine industry: Australia vs. France.

The French wine has taken the lead in the market by gaining undisputed recognition from varied forces for quite a long time. For instance, the French wine is Building on the Appellation d’Origine Contolee (AOC) system, alongside having a distinctive labor controls and requirements for almost all the 450 wine growing areas. The wine has maintained great quality, though this has been dependent on the soil, climate and the skills of the growers. Moreover, the French wine has forged a New World approach in terms of its production ...

French wines used to have a very strong competitive advantage in terms of sustainable differentiation that existed in Europe and the world in general for several centuries. The main idea of the AOC, which is responsible for the development of the French wine industry, was to put emphasis on the regional differentiation and to offer exclusive and superior wine at high prices in the export markets. There are 450 regions in France that specialize in wine production and consequently there are many sorts of grapes and types of wine. Not all customers could afford to buy expensive French wine, ...

Nowadays Costco Wholesale Corporation is the leading American warehouse club. Costco’s method of doing business is different from the one of other trade corporations. James Sinegal, Costco’s CEO, started the company in 1983. In Costco’s stores customers can enjoy buying products for lower prices comparing to other stores. Moreover, the store offers only a few items of the same kind which makes it less difficult for the customers to make a choice, and stimulates them into buying. Usually, people spend more in Costco stores that they have planned before entering them. This can be explained by ...

Eden Park is the name of the food eateries that I came up with. The restaurant is a contemporary American bistro that is located in the District of Manhattan in the city of New York. Also, the restaurant is situated at the landmark of Art Deco Metropolitan North Building. The Art Deco building in which the restaurant is located faced the Madison Square. The eatery is located in a strategic location where many people pass by to access the landmark which is a tourist attraction site. The city of New York is densely populated which makes the business flourish ...

Some materials that need to be assembled before conducting a wine tasting session include a room with the correct conditions for wine tasting, different types of wine, wine glasses, corkscrew, water that guests can sip and for cleaning the glasses before pouring a subsequent wine, buckets for collecting the wine and water discarded, placemats or tablecloth in white color to help determine the precise wine color, napkins, tasting sheets along with suitable stationery such as pens and pencils, and simple snacks such as plain crackers or bread (“Set the”). The room chosen for wine tasting should be clean, free ...