Reality of Recession Essay Example | Topics and Well Written Essays - 250 words

Reality of Recession - Essay Example The author of this essay states that this kind of production practice affects a company’s accounting practices greatly. Moreover, there are actually two kinds of which, first is managerial accounting and second would be cost accounting. To differentiate both, the former is concerned with incorporating all levels and parties involved with every direction their company chooses to go, that is giving much priority in providing information to managers who direct and control its’ operation as a whole to have total control on actual results to plans and benchmarks. But on the other hand, the latter is merely for cost determination and budget creation of a certain product or service. Going back to the philosophy of lean production, companies that practice this would lean more on managerial kind of accounting, where business processes are all integrated from processes to cost allocation to be able to manage the quality of product and satisfaction they can give to customers (Reco gnizing the Difference between Cost Accounting and Management Accounting, n.d.). Toyota is one of the companies that experienced the triumph of lean production. Their philosophy of thinking globally but acting locally is put to action as they integrate the design of the car and their manufacturing process to gain efficiencies and be able to lower the cost of their cars while satisfying global needs (The Triumph of Lean Production, n.d.). This indeed is the key to the future of companies in the midst of recession.

Literature Review Essay Example | Topics and Well Written Essays - 5000 words

Literature Review - Essay Example . Consumers are attracted through advertising and promotions. The first impression that a consumer attains through advertising influences his purchasing decisions. To create a positive impression, companies try to create a distinctive brand image for their products. The strategy is to utilize celebrities as endorsers in marketing campaign and it is growing increasingly popular. Companies usually use talent – movie actors, models, athletes or famous people for endorsement (Bergestrà ¶m & Skà ¤rfstad, 2004). Not just the large firms, even smaller companies with limited budget use sports and athletes to promote their products. Companies all over the world spend millions ever year to acquire celebrities to endorse their product. It hence become important to determine why companies choose celebrities to endorse their products, on what basis they select the celebrities and whether they get the expected returns from such endorsement. This proposal will briefly discuss the background with definition of ‘celebrities’ and after research justification and outlining the questions, based on the literature available, it will form a framework for research. A celebrity is defined as "an individual who is known to the public (i.e., actor, sports figure, entertainer, etc.) for his or her achievements in areas other than that of the product class endorsed" (cf., Friedman and Friedman 1979 cited by Kamins, Brand, Hoeke & Moe, 1989). The use of celebrities for product endorsement was on the rise in the late 1970s. While it was estimated that 15 percent of prime time television commercials featured celebrities in 1975, by 1978 it was reported to be over 20 percent (Kamins, Brand, Hoeke & Moe, 1989). Kamins et al (1989) conducted a study to determine the impact on advertising effectiveness and credibility based one two-sided versus one-sided celebrity endorsements.