Martin Bos
Class: MM2C
Commercial Economics
1
Table of contents
Article 1
3
Article 2
5
Article 3
7
Article 4
9
Article 5
11
Assignment 1 – Job Vacancy
Assignment 2 – Letter of application
15
16
– Improved letter of application
18
Assignment 3 – Letter of application Mesolaplaza
20
Assignment 4 – Letter of application BP
22
2
Distribution channels open up in China
By Phil Davis
With economic growth of more than 10 per cent a year for the past four decades, few investors need
convincing of the long-term potential of Chinese assets. The rapidly rising number of dedicated China
funds is testament to this. These funds received a further boost in April when the China Securities
Regulatory Commission (CSRC) announced that international fund managers would be allowed to
invest a combined $80bn in China’s capital markets, up from the previous limit of $30bn.
Less noticed, however, are the CSRC’s moves to encourage foreign managers to distribute to Chinese
investors. Last year, in response to US protestations about the dominance of the big state-owned
banks in the Chinese mutual fund market, the CSRC allowed the creation of new sales channels,
including independent advisers. Beijing is also believed to be considering the creation of a pension
fund system that mirrors the US’s 401k defined contribution plans.
So distribution prospects are improving. Given that from 2012 to 2050 China’s cities will grow by
348m people, according to Credit Suisse, the overall proposition for fund managers is promising.
Institutional fund managers have been aware of the opportunity for some time: the growing wealth
of the country has encouraged Beijing to seek to diversify state-owned assets. Allianz Global
Investors (AGI), for one, sells its international funds directly to CIC, the Chinese sovereign wealth
fund, and to the National Council of Social Security fund. “A number of state-owned institutions have
been set up to invest in overseas assets,” says Douglas Eu, chief executive Asia-Pacific at AGI. “The
process is similar to institutional mandates anywhere.”
Insurers, in particular, are seeking savings and retirement products, according to HSBC Jintrust, a
joint venture. “Insurance company premiums are growing by double digits every year, so it’s natural
they need investment solutions,” says Steve Lee, chief executive of HSBC Jintrust. The joint venture
targets specific institutional channels and has dedicated sales teams for each.
There are no direct channels for the retail market, however, and distribution can be complicated and
time-consuming. The prize, though, with 1.35bn Chinese investors potentially up for grabs, is alluring.
The first challenge for foreign groups looking to sell funds to retail investors is to set up a joint
venture. Apart from the difficulties of cultural fit, participants also report ever higher prices to take
stakes in local firms, according to Cerulli Associates, a research firm. But once the foreign JV is set up,
there appears to be a level playing field with the larger domestic JVs. “In general, we can do
everything that domestic players can do,” says Mr Lee.
Nevertheless, the list of the top 10 fund groups is dominated by domestic JVs because of their links
with the big state-owned banks and their distribution reach. Despite the CSRC’s moves to liberalise
the domestic market, there is currently little alternative but to distribute through the four largest
state-owned banks, which control 60 per cent of all mutual fund sales in China.
So even though AGI’s joint venture was forged with one of the three biggest brokers in China, Guotai
Junan Securities, it still needs to play ball with the banking behemoths. It even bought a stake in ICBC
bank when it listed in 2006 to help secure its distribution channels.
There is little hope for new entrants to independently develop a country-wide brand and challenge
the incumbents given the geographical challenges. “The top 10 cities and regions in China only
account for half of the assets in mutual funds,” sadifys Mr Lee. “This is the challenge of distribution in
China compared with, say, Hong Kong and Japan.” This oligopoly means that fund management firms
have no choice but to pay, typically, half of all their fees to the banks.
Marketing brings its own challenges. “You need to know the culture,” says Mr Lee. “Marketing
slogans in the north of China won’t work in the south; you have different cultures and dialects.” But
marketing is a critical differentiator because of the regulatory limits on the types of assets that can
be offered to retail investors. As a rule, JVs can only offer funds investing in Chinese shares, fixed
income and money market funds.
3
Volatility in the Chinese stock market has added to the challenges. Many local investors are nursing
huge losses as the market languishes at half its late 2007 peak. Mr Lee says: “Chinese investors are
unique. They are either extreme risk takers or they are extremely risk-averse.”
The risk-takers’ instincts have worked against them and assets under management have shrunk
alarmingly in the past four years. Cerulli says plain-vanilla equities funds are being shunned in favour
of bond and guaranteed funds.
As a result, according to Cerulli, the fund industry’s margins in China have declined, from a net
revenue yield of 108.6 basis points in 2008 to 42.3 basis points in the first half of 2011. And the
majority of companies operating in China expect foreign departures from the industry, according to a
recent PwC report.
This will reduce tough competition among the foreign JVs, but will do little to help the survivors
compete with the powerful domestic JVs.
This is the first article in a series on emerging markets distribution
Testament
Regulatory commission
Mutual
Diversify
Sovereign
Mandates
Retirement
Joint Venture
Alluring
Domestic
To liberalise
Brokers
Behemoths
Secureits
Incumbents
Oligopoly
Fund management
differentiator
Volatility
nursing
Languishes
Shunned
Testament
_
Wederzijds
Diversiefieren
Soeverein
Mandaten
Pensioen
Gezamelijk Ondernemen
Aanlokkelijk
Binnelands
Om te liberaliseren
Makelaars
Kolossen
_
Gevestigde
oligopolie
Vermogensbeheer
differentiator
volatiliteit
Vepleging
Kwijnt
Gesmeden
4
United we spend
By Osman Ahmed
Cyber Monday, the largest online shopping day of the year, goes global and no longer has much to do
with Thanksgiving
In two days the US is due to experience the single largest online shopping day of the year. Cyber
Monday is the virtual cousin of Black Friday, the day after Thanksgiving and traditionally the US’s
biggest shopping day of the year. It will see more than $1bn spent in less than 24 hours – that’s
almost $695,000 a minute, according to digital research company comScore.
It is, however, no longer a US-only event, and it no longer has much to do with Thanksgiving.
According to Andrea Panconesi, owner and chief executive of the Florence-based luxury retail
website LuisaViaRoma.com, the international market for Cyber Monday will soon begin to overtake
American demand. “Cyber Monday will become the first true online ‘transnational’ phenomenon,”
he says. Sarah Curran, founder and chief executive of my-wardrobe.com, the UK-based luxury e-tailer
which last year experienced a 184 per cent increase in sales on Cyber Monday, agrees. “For us, it’s
not just a US phenomenon; we see it in the UK and even in Portugal,” she says. “It’s becoming a
global phenomenon that starts on Monday and grows in momentum all the way up to midDecember.”
Matthew Cheng is founder of eCoupons.com, a global marketing website that carried out a survey of
Cyber Monday intentions earlier this year in conjunction with Ipsos, a market research company.
Cheung says that Cyber Monday is set to become even more global this year, as China is expected to
overtake every other nation with almost 65 per cent of the population planning to go online and buy
during the Cyber Monday period. This compares to 45 per cent of the US.
The globalisation of Cyber Monday is largely due to international marketing by Shop.org, part of the
US trading association National Retail Federation, and the unofficial organisers and founders of the
event, as well as widespread special promotions and discounts. Cyber Monday is, confusingly,
growing from a day-long phenomenon that started in the early 2000s into a whole week, usually
spanning seven days beginning the Monday after Thanksgiving. Christoph Botschen, chief executive
of the Munich-based luxury online boutique mytheresa.com, points out that different countries hold
Cyber Monday on different dates because of a variation in national paydays.
Some online retailers are also beginning to capitalise on the more traditional bricks-and-mortar
consumer-fest known as Black Friday. Gilt Groupe, popular with luxury-obsessed bargain hunters,
began its Cyber Monday promotions early this year following a global expansion to more than 90
countries, including the UK.
Boticca.com, a London-based online accessories marketplace founded in 2010 for independent
designers, will also be doing everything possible to maximise sales during Cyber Monday week by
using social media. “We will be using a Facebook application that will enable designers, who each sell
directly to customers, to easily set up a store on their fan page,” says co-founder Avid Larizadeh.
“Given that most of our designers do not have transactional websites, this will allow them to make
the most out of Cyber Monday, and cut through the noise of traditional online retail.”
Another person looking forward to Cyber Monday is Alison Loehnis, vice-president of sales and
marketing at London-based luxury fashion website Net-a-Porter. “Cyber Monday often falls into our
sale period, which is a great transaction driver,” she says. “Last year it was our biggest day in terms of
sales, and we see it increase every year. While the majority of sales on the day come from the US, we
have started to see an increase in the international market. Cyber Monday has become the kick-off
to the Christmas season for the entire online world.”
On your iPads, get set ... shop.
5
Black Friday
Chief executive
Transnational
Luxury E-tailer
Phenomenon
Momentum
Conjuction
Cyber Monday
Globalisation
Due
Spanning
Paydays
Zwarte Vrijdag
Directeur
Transnationale
Luxe E-verkoop
Fenomeen
Stuwkracht
-
Globalisering
Verschuldigd
Spanning
Betaaldagen
Bakstenen en
Bricks and mortar mortel
Accessories
Accesoires
Independent
Onafhankelijk
Co Founder
Mede oprichter
Online retail
Online verkoop
Transaction Driver Transactie driver
Majority
Meerderheid
Kick off
Start
6
Red Bull: Where marketing goes into overdrive
By Ed Hammond
Visitors to Red Bull’s Austrian headquarters are liable to get lost.
The verges of the narrow road winding into the hills east of Salzburg bear no signposts. Miles of
unbroken meadow and yellowing thickets pass without a hint of the silver and blue insignia that
wraps itself round the company’s eponymous energy drinks. Even when I arrive at the volcanoshaped building that houses Red Bull’s 350 head office staff, there are no obvious indicators to back
up the satnav’s monotone insistence that we have “reached our destination”.
Until I walk in and see a Formula One racing car parked in the atrium, it is hard to be certain I’m at
the right place. For a brand that has flourished on having a highly visible marketing strategy, this
seems odd.
Not so, says the lady showing me round the headquarters. She says the absence of signposts is
deliberate, so that when people think about Red Bull it is about the athletes and the events, not the
offices.
This accords with the philosophy woven into Red Bull by Dietrich Mateschitz, who co-founded it in
1984 and remains its largest shareholder.
“Our media philosophy is as simple as it is correct: the onus is on the media to create content, not on
us to provide it. If our results, achievements and activities are worth reporting, you will read about
them,” he says.
“We disagree with the philosophy of many others who abuse the media for personal gain. Imagine if
you removed everything from the papers that was announced but never came to fruition or took
place or that later proved to be inaccurate.”
For the most part, the group has done well at providing the media with activities to report on. So
much so, in fact, that when people say Red Bull, it is hard to know if they are referring to the drink,
the world championship-winning F1 team, the company’s spectacularly dangerous-looking air-racing
series, or the rash of other extreme sports events to which it lends its name.
In spite of the energy invested in its marketing campaign, Mr Mateschitz says the quality of the drink
is still the most important factor in Red Bull’s success.
“The best marketing strategy and the highest marketing budget in the world cannot win back a
disappointed consumer. Long-term success is based on product quality and repurchase rate,” he
explains.
The inspiration to launch the company came to Mr Mateschitz during his tenure as international
marketing director for Blendax, a toothpaste maker now owned by Procter & Gamble. Travelling in
Thailand, he quickly saw a gap in the European market for a modified version of energy drinks widely
consumed in the country.
In the 27 years since then, Red Bull’s association with adrenalin-fuelled sports has created a wave of
brand goodwill that has helped it become the world’s most consumed energy drink, selling more
than 4bn cans last year, and one of Austria’s biggest corporate success stories. This global reach also
means it has, so far at least, weathered the fall in consumer spending in western economies.
During 2010, the privately held company saw sales in Brazil grow by 32 per cent, while Turkish and
Japanese consumers increased their intake by more than 80 per cent. Overall, the group posted sales
last year of €3.78bn ($5.17bn), compared with €3.26bn a year earlier.
In spite of its size, however, the group is still steeped in the sort of folklore and philosophical
quackery that most large multinationals eschew in favour of efficiency of production. In one example
of the group’s unusual approach to mass production, the caps on its bottled mineral water can be
sealed only on nights when the moon is full in the sky.
This is the kind of behaviour that could infuriate shareholders of a publicly listed company. Mr
Mateschitz is unambiguous about the likelihood of Red Bull appearing on the stock market in the
future, however.
7
“Never. Thanks to our financial philosophy, we are not and never have been in need of capital, nor
does anybody want to cash in. If we were to go public, the company would lose all of its benefits and
in turn we would be left with numerous disadvantages,” he says.
Overdrive
Liable
Verges
Unbroken
Meadow
Insignia
Insistence
Atrium
Flourished
Deliberate
Onus
Fruition
Rash
Rash
Adrenalin Fuelled
Intake
Folklore
Quackery
Infuriate
anambiguous
Numerous
Afbeulen
Aansprakelijk
Grens/berm
Ongebroken
weide?
insigne
Aandringen
Atium
Bloeide
Opzettelijk
Bewijslast
Vervulling
Uitslag
Uitslag
Accesoires
Inname
Folklore
Kwakzalverij
Woede
Meerderheid
Vele
8
Formula for corporate success
By Ross Tieman
Improving collaboration between academics and industry is a mantra of French higher education
reform. Yet the success of executive education programmes at ESC Toulouse management school is
ample evidence that French business schools, thanks to their relative freedom, are already potential
cornerstones of regional competitiveness. In the past decade, Groupe ESC Toulouse has tailored
programmes for companies as diverse as Motorola, the US telecoms equipment specialist, aircraft
maker Airbus and Pierre Fabre, a private pharmaceuticals and cosmetics group. The link between
these companies is not merely that they have large activities in the Toulouse region but also they are
all international businesses that face challenges in their participation in international markets. Parttime programmes from a local but international management school help them upgrade staff skills
while minimising time away from the workplace. It is a formula that benefits the business school too.
"It's a virtuous circle," says Sylviane Fontana, director of Capitolis, the executive education arm of
Groupe ESC Toulouse. "It also helps us because it keeps professors in touch with the reality of the
corporate world." It is a far cry from the technologies prevalent in 1903 when the local chamber of
commerce founded ESC in a town of fewer than 150,000 inhabitants. But the development of
Capitolis reflects that of the new industries that have bolstered the population of Toulouse to 1.1m,
making it France's fourth largest metropolitan area. The historic role of the city's Ecole Supérieur de
Commerce, like that of peers across France, was to teach a two-year diploma that built on two years
of post-Baccalaureate "preparation" to deliver the equivalent of a general masters in management to
fee-paying students. But a change in the legal framework in 1971 opened the door for business
schools to broaden their role and sell their talents to the private sector. Today, Capitolis and the
school's executive MBA programme account for 15 per cent of Groupe ESC Toulouse's €35m ($46m)
annual revenues. In practice, Capitolis has four activities. Part of its work is to qualify programmes for
ESC Toulouse and other schools. The second strand is a pair of courses for directors of small
businesses. These are designed as a tools and strategy boost for entrepreneurs, who use their own
businesses as case studies under academic guidance. The third element is a series of standard short
courses available to bosses who want to upgrade their skills. But it is in the tailor-made programmes
for larger companies that Capitolis is making its mark. The school's first big collaborative executive
education programme, launched in 1998, was for mutual banking group Caisses d'Epargne. French
bosses at Motorola, a US group with extensive Toulouse operations, sought help to deal with the
differences between US and French management styles. Ms Fontana and her team drew from the
skills of more than 60 faculty at the business school to design a course that addressed culture and
communication issues but focused on how to achieve quick collaborative decisions. Capitolis has also
designed and run three programmes for Airbus, including a programme for new managers that
provides the communication and core management skills to make a success of promotion. Perhaps
the most striking development has been its collaboration with Pierre Fabre, a group founded by a
local pharmacist that has grown into a €1.7bn-a-year business. Mr Fabre, the chairman, wanted a
tailored programme capable of turning promising young managers and doctors into product
marketing chiefs. The company uses the wing of an historic abbey as its training school. Participants
begin a programme developed with Capitolis that includes three months of full-time study and six
months on the job. Although the programme draws on many Fabre company practices, it is
sufficiently general to qualify graduates for the ESC Toulouse masters degree in health management.
Toulouse is also home to Aerospace Valley and the Cancer-opôle, two state-sponsored public-private
organisations designed to promote clustering of aerospace and cancer treatment technologies.
Through Capitolis, ESC Toulouse is helping develop not just its own competitiveness but that of the
Toulouse region and its most promising industries.
9
Mantra
Executive
Tailored
Pharmaceuticals
Minimizing
Merely
Prevalent
Bolstered
Metropolitan
Peers
postBaccalaureate
Entrepeneurs
Guidance
Extensive
Striking
Abbey
Suffienctly
Clustering
Mantra
Uitvoerend
Op maat
Farmaceutische
Het
minimaliseren
Slechts
Gesterkt
Stedelijk
Ondernemers
Leiding
uitgebrand
Opvallend
Abdij
Efficient
Clusteren
10
11
Sony: Channels to choose
By Andrew Edgecliffe-Johnson and Jonathan Soble
As the Japanese group’s quest for a return to Walkman-era glory continues, Sir Howard Stringer’s
successor looks set to persist with the departing chief’s cultural and structural shake-up
As he celebrated Sony’s sweep of Grammy awards at a star-draped after-party in West Hollywood on
February 12, Sir Howard Stringer looked like a man relieved.
Adele, the Sony-signed British singer, had won six trophies, capping a year of music successes for the
Japanese group and its Welsh-American chief executive, who had lured industry veteran Doug Morris
to run his record labels, and pulled off a bid for EMI Music Publishing without committing much
capital.
Yet he had bigger reasons to look cheerful. The buzz and back-slapping at Cecconi’s – the low-lit
restaurant where a barefoot Adele mingled with Sony executives – offered a welcome diversion after
a gruelling year at the company’s Tokyo headquarters.
The 70-year-old’s hopes of going into retirement with the group restored to annual profits of $3bn
had been shattered in 2011 by a succession of crises. Japan’s earthquake, cyber-hacking attacks,
supply-disrupting floods in Thailand, London riots that destroyed a DVD warehouse and the yen’s
relentless, export-squeezing rise all took a toll.
Even his victories had been hard won. Days before the Grammys, Sony’s board had accepted his
recommendation that Kazuo Hirai – a calm, bilingual Japanese 51-year-old who had risen through the
music and PlayStation video games divisions – take over in April as chief executive, while Sir Howard
stayed on as chairman.
The warm body language between the two at Cecconi’s made the move look like the seamless
conclusion of a succession plan that began in 2009, when Sir Howard promoted Mr Hirai and three
other young “musketeers” to rejuvenate Sony’s management.
What few present knew, however, was that a month earlier Mr Hirai’s accession looked like it might
be derailed by an old guard that Sir Howard’s supporters say has undermined his efforts to shake up
the group since he took the top job in 2005. Four people familiar with the events say that, as it
became clear the company would lose Y220bn ($2.7bn) in the year to March, a group of retired Sony
electronics managers approached directors to try to block the appointment.
Their attempted coup provides an insight into how fortunes turn in technology, the pain still felt at a
company that was the Apple of the 1980s, the still unsettled nature of Sony’s strategy and the
cultural rifts between Japanese and western management styles that have survived decades of
globalisation.
The retired executives had run Sony as it wowed the world with devices such as the Walkman, the
Trinitron television and the Handycam video recorder, and still commanded respect and loyalty. But
they had watched in dismay as the group that embodied Japan’s postwar manufacturing prowess lost
out to cheaper, nimbler Asian electronics producers, including South Korea’s Samsung and HTC of
Taiwan.
Now, they were suspicious of Mr Hirai and hostile to the cultural and cost changes he and Sir Howard
say are needed to revive its competitiveness. They suggested several alternative CEO candidates with
electronics backgrounds, including Ken Kutaragi, the PlayStation creator. “It was basically an attempt
to turn back the clock,” says one senior manager familiar with the “conspiracy”. In the end, however,
the board approved Mr Hirai’s appointment unanimously.
So if Sir Howard looked relieved that night in Los Angeles, it was because he had fended off the latest
challenge to his authority, protecting his chosen successor and seeing off a backlash that might have
reversed the course he has set for the company.
“I know there are some who want to look back, to go back to the old way of doing things,” he said
when announcing Mr Hirai’s appointment, warning that his “tough-minded” protégé would resist this
“wrong approach”.
Film and music
12
In reviewing Sir Howard’s record, important numbers suggest the right verdict is a thumbs down. The
group’s market capitalisation has shrunk by 70 per cent since his promotion from running its US
entertainment business. Seven years ago, Sony’s market cap was two-thirds that of Apple, but today
the iPad-maker is 20 times Sony’s size, and has usurped its reputation for innovation in electronics. In
the four years to this March, Sony will have suffered nearly Y620bn in net losses. Its televisions
business has never made money on Sir Howard’s watch, defying repeated predictions of a turnround.
Was his strategy wrong? Had Sony become so ossified and outmanoeuvred that no CEO could
restore it to its Walkman-era glory? Or do all Apple’s competitors look like failures in the iPhone age?
Sir Howard faced high expectations, nurtured in Japan by the record of another foreigner: Nissan’s
Carlos Ghosn steered the carmaker quickly from near bankruptcy to profit in the early 2000s. “A lot
of people hoped Stringer would be another Ghosn, and would come in and make big, fundamental
changes in a hurry, but that never happened,” says Osamu Katayama, author of books on Sony.
“Sony and Nissan are different cases, though I do think Stringer could have been more aggressive.”
One former colleague says Sir Howard was worn down by Sony’s slow-moving culture in Tokyo, but
should have stopped worrying about negative headlines and pushed harder. However, Sir Howard’s
defenders argue that he has made as much of an almost impossible hand as anyone could have done.
Sony’s performance, they say, cannot be seen in isolation from the woes of Japan’s other big
electronics companies. All have suffered from the strong yen and natural disasters, and some have
been even slower to adapt and cut costs. Both Panasonic and Sharp are forecasting multibilliondollar losses this year.
“His performance might look like a C plus, but adjusted for difficulty it’s an A,” another colleague
says. An adviser to Sony adds: “If it wasn’t for Howard, they might be bankrupt by now. He’s come up
with the right strategy but he’s a mere mortal.” Sir Howard himself defended his record this month,
saying: “If we hadn’t reformed Sony as we did, can you imagine where we’d be today?”
...
If Sony’s troubles arouse more passion than those of other Japanese technology groups, it is because
it had been best positioned for the shift to the networked hardware and digital distribution model
Apple has exploited. Sony made the devices – the music players, mobile phones and computers – and
its movie studios and music companies produced the entertainment content. “But instead of working
together, the managers of the different businesses fought to keep their independence,” Mr
Katayama says. Early attempts to integrate products and create digital content stores to rival iTunes
flopped, while Apple – a niche computer-maker with no entertainment assets – swept the field.
Sir Howard’s appointment was supposed to change that. After he took over Sony’s US entertainment
business in 1997, the former CBS president earned a reputation for pushing through cost cuts and
cultural change with the charm of a former journalist and the toughness of a man drafted to fight in
the Vietnam war six weeks after landing in the US.
He was appointed CEO two years after the company’s misreading of changing TV technology led to
the “Sony shock” of tumbling electronics earnings in 2003. Then, he talked of the urgent need to
break down divisional “silos”, overhaul the scatter-gun approach to product development and
respond faster to changing consumer behaviour. Some of those comments sound similar to his
successor’s analysis of the task faced now. “I have an acute sense of crisis,” Mr Hirai said on his
appointment, urging the company to step up innovation.
...
Japan’s consensus culture posed a far greater challenge for Sir Howard than Hollywood or record
labels. Still, he cut Y200bn from Sony’s costs and 12,000 people from the payroll by 2008 to produce
operating profit margins in electronics of 5 per cent. After what he calls the “Lehman shock” sent
financial markets crashing that year, he cut again, reducing costs by another Y250bn and headcount
by another 16,000 to 168,000.
The rewards were supposed to show through in 2011, before the seismic shock of March 11
destroyed several factories and warehouses at a cost of Y150bn. Such setbacks tested his resilience
and, coupled with internal resistance, left him frustrated. But, he told the FT last week, “Sony keeps
bouncing back and I’m confident the stage is set for a new era of growth.”
13
Sir Howard can point to strategic wins. Sony’s Blu-Ray won the DVD format wars against the Toshibabacked HD DVD standard in 2008. It has done as well as anybody from 3D film and television, making
everything from cinema projectors to TV sets for the format. In the past year, the growth of the Sony
Entertainment Network, uniting games, music and videos, suggests his efforts to improve
collaboration and software development are having an impact. He also bought Swedish telecoms
group Ericsson and German media company Bertelsmann out of tense joint ventures; and extricated
Sony from a costly liquid crystal display screens venture with arch-rival Samsung.
Reviews of new products – from the Sony S tablet to Xperia smartphones and the PlayStation Vita
portable games player – have been positive. But none has taken off like an iPhone, iPad or iPod, and
too many still come out late. “While they plan, others go and do,” one consultant says.
While Apple concentrates on a few devices at a time Sony juggles scores of lines, from medical
imaging equipment to 3D binoculars. It leads in image sensors (supplying those for the cameras in
the latest iPhone) and professional movie cameras. “That doesn’t mean anybody’s going to stop
whining about the Walkman,” one senior Sony figure remarked last year.
Mr Hirai says his priorities will be to grow faster in digital imaging, smartphones and video gaming;
turn around the TV business; and expand in networked services. “We are not shifting direction. We
are shifting gear,” Sir Howard said this month, implying that investors will see a Japanese executive
accelerating the strategy of the Welsh-American outsider.
But as Mr Hirai takes the reins, the question of what success Sony’s next leader can realistically
aspire to remains. Investors would welcome stability and improving margins – average analyst
estimates are for smallish net profits of Y70bn and Y120bn in the next two years – but until Sony
finds another Walkman-like hit, he too may struggle to quieten the group’s vocal old guard.
Persist
Lured
Buzz and Back
Mingled
Relentless
Bilingual
Accession
Derailed
Fortunes
wowed
Dismay
Embodied
conspiracy
Backlash
Protege
Verdict
Usurped
Defying
Nurtured
Arouse
Drafted
Divisional
Resilience
Collaboration
extricated
Juggles
Aanhouden
gelokt
Buzz en terug
Vermengd
Meedogenloos
Tweetalig
Toetreding
Ontspoord
Vervulling
Ontzetting
Belichaamd
Samenzwering
Speling
uitspraak
Toegeëgend
Gevoed
Wekken
Opgesteld
Veerkracht
Samenwerking
Jongleer
14
Job vacancy
President, VP, Executive
Location : Dallas, TX
Base Pay : $90,000 - $300,000 /Year
Employee Type : Full-Time
Industry : Government - Civil Service
Manages Others : Yes
Job Type : ManagementGeneral Business
ExecutiveExperience : At least 8 year(s)
Division : Huntsville Executives
Post Date : 10/7/2012
Contact Information
Jessi
Ref ID :
PVPE-HUN
President / VP / Executive
Requirements:
Our clients gain a vital and broad perspective of their capabilities and a particular confidence to pursue
opportunities they might otherwise not see or seek. Our strategies will give you a distinct advantage over others
when competing for open positions as well as help you find opportunities that others fail to discover.
We will provide you the insight you need to better understand what you have to offer and need to present yourself
to prospective hiring decision-makers, the tools to create awareness and interest, the strategies to help you get in
front of employers and make a strong impression, and the ongoing advice that you would expect from seasoned
top-level executives. Our very high client success rate testifies to the effectiveness of our concepts, practices,
tools, and strategies.
The time invested to learn more about how you can advance faster, internally or externally, can open doors to
opportunity and net a solid return on your investment. We view our relationship with clients as a partnership
because our success is based on your success
Please forward your resume if you currently reside in the Huntsville Alabama area or are serious about relocation
here. We can assist with an out-of-state job search, depending on the circumstance.
We are looking for qualified candidates, apply for Confidential interview attn: Jessi
Requirements*Able to Manage Multiple Units, Regions, Districts.
*Profit & Loss Responsibilities
*Ability To Drive Business/Sales
*Must have a Successful Track Record
*Strong Customer Relations Skills
*Minimum 8 years Experience
Degrees preferred, advance degrees and certifications desired,
exception experience may substitute education.
Alabama residents are encouraged to apply or you are planning on relocating here.
We can assist with out-of state job searches depending on the situation.
http://www.careerbuilder.com/JobSeeker/Jobs/JobDetails.aspx?&Job_DID=JB78906YV49FCKFF36M&ipath=HPRJ
15
Letter of Application
Martin Bos
Bernhardus Bumastraat 55
8933 EJ Leeuwarden
06-509 559 26
Martin-17@live.nl
Dallas Inc.
Jackson Road 162
27727 Dallas
Dear Mr. Jessi
I am writing to apply for the excecutive position advertised on careerbuilder.com. As
requested, I am enclosing my certifacation, a complete job application, my resume, my
certifications and a number of references.
This job offer advertised is very interesting, and I strongly believe that my expanded
knowledge of civil services and my education will make me an ambitious canditate for this
executive position.I have studied Commercial Economics at the NHL High School, which is
located in Leeuwarden, The Netherlands. During my last year internship, I got offered a
management position at Stopaq bv. Stopaq is a world-renowned factory that produces oil
platforms. This inspired me greatly and I still work there after 15 years. However, the time
has come for something more challenging, which I think Dallas Inc. can offer me.
The key strengths that I possess for success in this position include:



I have successfully managed a team of 25 employees
I strive for continued excellence
I have designed several high-ranking costumjer service programs
With a BS degree in Marketing Management, I have a full understanding of managing a
company. I also have experience in learning and developing new Technologies and plas, if
desired.
Please see my resume for additional information on my experience.
Sincerely,
Martin Bos
16
Curriculum Vitae
Personalia:
Name: Martin Bos
Adress: Bernhardus Bumastraat 55
Postal code: 8933 EJ
Woonplaats: Leeuwarden
Phone number: 06-509 559 26
Date of birth: 30-10-1992
Place of birth: Stadskanaal
Nationality: Nederlandse
Education:
2004-2009 Havo, Culture and Society attending Ubbo Emmius College located in Stadskanaal
2009-2010 Bachelor of Nursery attending HanzeHogeschool located in Groningen
(Unfinished)
2011-2015 Bachelor of Marketing Management attending NHL located in Leeuwarden
Experience:
December 2010 – Juli 2014: Manager of C1000 Westermarke located in Stadskanaal.
Juli 2014 – Present: Manager Costumer Services at Stopaq located in Stadskanaal
Personal traits
Ambitious, careful, positive, managing qualities, teamplayer, assertive
References:
Stopaq
Beun Haas
Landweg 4
9501 GH Stadskanaal
C1000 Westermarke
Tanja Hulshof/Fijka Hulsing
Beneluxlaan 6
9501 CT, Stadskanaal
0599-696060
17
Improved letter of Application
Martin Bos
Bernhardus Bumastraat 55
8933 EJ Leeuwarden
06-509 559 26
Martin-17@live.nl
17th October, 2012
Dallas Inc.
Jackson Road 162
27727 Dallas
Dear Mr. Jessi
I am writing to apply for the excecutive position advertised on careerbuilder.com. As
requested, I am enclosing my certification, a complete job application, my resume, my
certifications and a number of references.
This job offer advertised is very interesting, and I strongly believe that my broad knowledge
of civil services and my education will make me an ambitious candidate for this executive
position.I have studied Commercial Economics at the NHL High School, which is located in
Leeuwarden, The Netherlands. During my last year internship, I was offered a management
position at Stopaq bv. Stopaq is a world-renowned factory that produces oil platforms. This
inspired me greatly because of the different aspects of the working field, and I still work
there after 15 years. However, the time has come for something more challenging, which I
think Dallas Inc. can offer me.
The key strengths that I possess for success in this position include:



I have successfully managed a team of 25 employees
I strive for continued excellence
I have designed several high-ranking costumer service programs
With a BS degree in Marketing Management, I have a full understanding of managing a
company. I also have experience in learning and developing new technologies and plans, if
desired.
Please see my resume for additional information on my experience.
Yours sincerely,
Martin Bos
18
Curriculum Vitae
Personalia:
Name: Martin Bos
Adress: Bernhardus Bumastraat 55
Postal code: 8933 EJ
Residence: Leeuwarden
Phone number: 06-509 559 26
Date of birth: 30-10-1992
Place of birth: Stadskanaal
Nationality: Dutch
Education:
2004-2009 Havo, Culture and Society attending Ubbo Emmius College located in Stadskanaal
2009-2010 Bachelor of Nursery attending HanzeHogeschool located in Groningen
(Unfinished)
2011-2015 Bachelor of Marketing Management attending NHL located in Leeuwarden
Experience:
December 2010 – July 2014: Manager of C1000 Westermarke located in Stadskanaal.
July 2014 – Present: Manager Costumer Services at Stopaq located in Stadskanaal
Personal traits
Ambitious , positive, managing qualities, teamplayer, assertive
References:
Stopaq
Beun Haas
Landweg 4
9501 GH Stadskanaal
C1000 Westermarke
Tanja Hulshof/Fijka Hulsing
Beneluxlaan 6
9501 CT, Stadskanaal
0599-696060
19
Letter of application Mesolaplaza
Martin Bos
Bernhardus Bumastraat 55
8933 EJ Leeuwarden
06-509 559 26
Martin-17@live.nl
Mesolaplaza
Eikenlaan 72a
8471KE Wolvega
31st of October, 2012
Dear Mrs. Bakker
I am writing to apply for the international business development manager vacancy
advertised on careerbuilder.com. As requested, I am enclosing my certification, a complete
job application, my resume, my certifications and a number of references.
This job offer advertised is very interesting, and I strongly believe that my broad knowledge
of social media and my education will make me an ambitious candidate for this managing
position. I have studied Commercial Economics at the NHL High School, which is located in
Leeuwarden, The Netherlands. During my last year internship, I was offered a management
position at Stopaq bv. Stopaq is a world-renowned factory that produces oil platforms. This
inspired me greatly because of the different aspects of the working field, and I still work
there after 5 years. However, the time has come for something more challenging, which I
think MesolaPlaza can offer me.
The key strengths that I possess for success in this position include:




I have successfully managed a team of 25 employees
I strive for continued excellence
I have designed several high-ranking costumer service programs
I have completed several international Minors and managed international contacts for
Stopaq.
With a BS degree in Marketing Management, I have a full understanding of managing a
company. I also have experience in learning and developing new technologies and plans, if
desired.
Please see my Curriculum Vitae for additional information on my experience.
Yours sincerely,
Martin Bos
20
Curriculum Vitae
Personalia:
Name: Martin Bos
Adress: Bernhardus Bumastraat 55
Postal code: 8933 EJ
Residence: Leeuwarden
Phone number: 06-509 559 26
Date of birth: 30-10-1992
Place of birth: Stadskanaal
Nationality: Dutch
Education:
2004-2009 Havo, Culture and Society attending Ubbo Emmius College located in Stadskanaal
2009-2010 Bachelor of Nursery attending HanzeHogeschool located in Groningen
(Unfinished)
2011-2015 Bachelor of Marketing Management, attending NHL located in Leeuwarden
Experience:
December 2010 – July 2014: Manager of C1000 Westermarke located in Stadskanaal.
Julyi 2014 – Present: Manager Costumer Services at Stopaq located in Stadskanaal
Personal traits
Ambitious, assertive, positive, managing qualities, teamplayer,
References:
Stopaq
Beun Haas
Landweg 4
9501 GH Stadskanaal
0599-436238
C1000 Westermarke
Tanja Hulshof/Fijka Hulsing
Beneluxlaan 6
9501 CT, Stadskanaal
0599-696060
21
Letter of application BP
Martin Bos
Bernhardus Bumastraat 55
8933 EJ Leeuwarden
06-509 559 26
Martin-17@live.nl
BP.
Jackson Road 162
27727 London
31st of October, 2012
Dear Mr. Bransson
I am writing to apply for the online web 2.0 manager vacancy advertised on
careerbuilder.com. As requested, I am enclosing my certification, a complete job application,
my resume, my certifications and a number of references.
This job offer advertised is very interesting, and I strongly believe that my broad knowledge
of social media and my education will make me an ambitious candidate for this
managingposition. I have studied Commercial Economics at the NHL High School, which is
located in Leeuwarden, The Netherlands. During my last year internship, I was offered a
management position at Stopaq bv. Stopaq is a world-renowned factory that produces oil
platforms. This inspired me greatly because of the different aspects of the working field, and
I still work there after 5 years. However, the time has come for something more challenging,
which I think BP. can offer me.
The key strengths that I possess for success in this position include:



I have successfully managed a team of 25 employees
I strive for continued excellence
I have designed several high-ranking costumer service programs
With a BS degree in Marketing Management, I have a full understanding of managing a
company. I also have experience in learning and developing new technologies and plans, if
desired.
Please see my Curriculum Vitae for additional information on my experience.
Yours sincerely,
Martin Bos
22
Curriculum Vitae
Personalia:
Name: Martin Bos
Adress: Bernhardus Bumastraat 55
Postal code: 8933 EJ
Residence: Leeuwarden
Phone number: 06-509 559 26
Date of birth: 30-10-1992
Place of birth: Stadskanaal
Nationality: Dutch
Education:
2004-2009 Havo, Culture and Society attending Ubbo Emmius College located in Stadskanaal
2009-2010 Bachelor of Nursery attending HanzeHogeschool located in Groningen
(Unfinished)
2011-2015 Bachelor of Marketing Management, attending NHL located in Leeuwarden
Experience:
December 2010 – July 2014: Manager of C1000 Westermarke located in Stadskanaal.
July 2014 – Present: Manager Costumer Services at Stopaq located in Stadskanaal
Personal traits
Ambitious, assertive, positive, managing qualities, teamplayer,
References:
Stopaq
Beun Haas
Landweg 4
9501 GH Stadskanaal
0599-436238
C1000 Westermarke
Tanja Hulshof/Fijka Hulsing
Beneluxlaan 6
9501 CT, Stadskanaal
0599-696060
23
24