Zara Fast Fashion Key Factors Marketing Essay

Zara Fast Fashion Key Factors Marketing Essay CUSTOMERS: They notice customers desires and then the design process is launched. This is a quick process which enables them to lower the costs by using a react policy instead of a forecasting one STORES: Particular attention for their stores, which are their main advertising medium in fact their advertisement budget is 0,3% of the net income (HM and Gap 3-4%). They prefer publicity coming from their main street and unique stores rather than an expensive advertising campaign. EMPLOYEES RESPONSIBILITY: Bottom up process in which Zaras headquarters leave the responsibility of choosing clothes to the store managers ( they know the local market ina better way). Moreover their wages are 70% variable and this encourages them to sell more in a good competitive way _VERTICAL INTEGRATION: This is why they are doing so well and why they can be associated to FAST FASHION. Their vertical integration allows them to design and finish goods wich you can find into the store in 4-5 weeks HIGH TURNOVER OF THEIR PRODUCTS. Thanks to this impressive response capability, Zara is able to follow fashion instead of betting on it this means that the entrepreneurial risk is minimized to a level that no one other competitorwould ever reach this rapid product turnover creates a climate of scarcity and opportunity that must be caught in Zaras retail stores. Strenghts Weaknesses Vertical integration Lower quantities of goods produced means that theres a rapid product turnover. This creates an artificial sense of scarcity among consumers and allows Zara to sell more merchandise at full price, lowering costs via reducing markdown merchandise 85% of styles produced in-season very updated products, capturing the latest trend; Incredibly short lead times (time from design to sale)-: average of 15 days Unique quick response system: store managers as the most important people in the company Custom-built IT support, allowing very quick and efficient transmission of sales and trends information from stores to the HQ; Extremely low advertising costs; Store design creating a unique shopping experience Broad market segmentation Inability to penetrate the American market: differences in tastes, weak supply chain strategy in America Unable to acquire economies of scale by producing large quantities for a discounted rate: higher costs arising from vertical integration Higher costs of training personnel and of changeover of production techniques due to changes to garments being made in-season, as well as new styles being introduces Opportunities Threats Explore other world markets Expand into Internet retailing Offer different styles in different stores within the same city to avoid cannibalisation of own sales Cannibalization. Zaras extensive location strategy involves putting multiple Zara stores that carry the same stock in the same cities. That means Zara is trying to sell the same exact merchandise to the same people that reside in that city. NINTENDO BLUE OCEAN STRATEGY According to businessweek.com, in a list compiled by A.T. Kearney Nintendo is ranked as #1 in the 2009 most profitable companies its sales have risen 36% annually over the past five years and its value growth averaged 38%. KEY FACTORS -EMPLOYEES RESPONSIBILITY: They bought a very expensive software called Xylo just to help their employees with a private online network of work/life products to develop their work (even at home) in a better way. And according to the Financial Times Nintendo is totally repaid because every employee generated an average a $1.6 million each for them. -SUSTAINABLE MARGINS AND COST LEADERSHIP: They invested in a product which has guaranteed them a positive relationship between sells and costs from the first year ( this allowed them to generate positive cash flows which enabled them to invest in RD), instead Sony and Microsoft are profitable only from this year( they actually lost lots of money).Also the suppliers found it easy to develop games for an easier console. Nintendo made a huge strategic bet that less is more in the global console gaming market. The Wii console is the low budget alterative to the Play Station 3 and the Xbox (see Figure 1.). It doesnt boast blistering chip speeds or cutting edge graphics. By not investing significant amounts of money in technology like Blu-Ray technology (typical to the Sony Playstation) the Wii was profitable from day one (Bremmer, 2006). Referring back to the target market, by targeting new generation families with a product that provides fun, educational and entertaining activities throu gh a cost leadership strategy, Nintendo is sure to please by providing families with more affordable fun, without the need to leave the house. -INNOVATION: They have a continuing emphasis in innovation and thats why Wii and Ds outsold their competitors Ps3 and Psp from Sony and Microsoft Xbox360). They are always one step ahead of their competitors. They basically invented a brand new way to conceive the games with their new motion controller. Which was perfect to last even during a crisis.( where theres lack of time theres no need to master small buttons, and lack of money it costs 249$ instead of 500/600$ of xbox 360 and ps3). Nintendos strategies always embed their core value: creativity. This is typically reflected in the case of Wii. Wii had accumulated a sales volume of 70.93 million worldwide, as of March 31, 2010 (Nintendo Co., Ltd., 2010, p.23). This is a remarkable sales result. Why is Wii so attractive to consumers? The most creditable feature of Wii is its multifunctionality. Distinctive from other game consoles, it allows the players to emulate a variety of actions, like shooting arrows and hitting tennis balls, to achieve objectives in the games. This is a truly fresh and unique experience for video game players. They praise Wii, and are desperate to get one without much regards to its price. Word of Mouth Marketing was achieved in this process. The achievement of Word of Mouth Marketing was welcomed by Nintendo, because the extensive share of information between players and their friends can bring significant results that even multi-million dollars advertisements can not bring (Trout, J., 2006). But in the end, credits belong to Nintendos core value of creativity. Without creativity, they could not develop products with preeminent functionality, and there would be no way for them to claim the leading position in the market. -BLUE OCEAN STRATEGY: They had expanded the market with their productsWii fit and Brain training. Now also women and old People play with consoles! They succeeded in creating a whole brand new videogames market in which they have no competitors and so they didnt have to create a price war with their products. Nintendo is not fighting against Sony and Microsoft. Its real enemy is the indifference that many people still feel towards gamingà ¢Ã¢â€š ¬Ã‚ ¦ (-President Satoru Iwata, Towns, 2006) In order for Nintendo to capture and retain profitable market share, it would be thought to be possible by achieving higher profitability than their competitors. However, as the insight above suggests, Nintendo have structured business strategy upon the mission to go out and reach the people that would not consider themselves to be gamers). This dramatically increases the size of the total addressable market for Nintendo marketing, and their intuitive strategies have meant that Nintendo touches many more people than the typical gamer with more profits to match. The mission to touch those indifferent to gaming, the company adopted the The Blue Ocean Strategy which is centred upon creating a market where there initially was none and going where no other organisation has gone yet (Rosmarin, 2006). To reach this untapped market, Nintendo adopted an all inclusive, gender and age-neutral stance to gaming. This was achieved by going against the grain of competitors and including women in their audience, welcoming women by introducing a feminine aesthetic in product marketing (for example the Wii and the DS are visually light, curvy, bright, people based products) and focusing on gaming/entertainment content that appeals to both sexes (for example the Wii Fit, Brain Training and Nintendogs). This can be contrasted to the gaming content of competitors in the market Sony and Microsift, which are typically associated just with competition content (Marketing Magazine, 2008). The SWOT analysis of Nintendo STRENGHTS WEAKNESSES Nintendos strengths include a well established brand name, well known franchises, ability to manufacture goods at a low price and innovative products as will be discussed later in this report. Since its computer gaming establishment in 1977 Nintendo has maintained a strong and brand image. This has been supported by their success in quality products such as previous market leaders the Super Nintendo Entertainment System and Nintendo 64. The franchises that Nintendo possess such as their gaming icons, Mario, Donkey Kong, Zelda, etc have enabled them to maintain customer loyalty and recognition. These franchises have also allowed Nintendo to touch on other markets i.e. toy market. Nintendos two major weaknesses would be their dependence on outside contracted manufacturers and lack of games compared to its competitors. Ironically, one of Nintendos strengths would also constitute as one of their biggest weaknesses. The dependence on specific manufacturers leaves Nintendo vulnerable if those manufacturers were to fail or suffer any difficulty in producing the required amount. The inability for manufacturers to supply goods on a timely basis would significantly impact on Nintendos performance as the switching costs between competitors within the industry are relatively low. The unavailability of products would ultimately constitute in loss of market share. OPPORTUNITIES THREATS The main opportunity that Nintendo are exposed to is that the world evolving to which more people are becoming more technologically compatible. People are introduced to technology at an earlier age and are becoming more computer orientated. Another opportunity for Nintendo would be the online gaming support system. It is anticipated that the sale level of gaming consoles will decrease as the number of online gaming subscriptions will increase .This includes the possibilities of introducing newer systems or even upgrading current products to align themselves with current online innovations and to potentially compete against upcoming new competitors. There are a number of threats that Nintendo may or have come across which include counterfeit products, competitors implementing motion detection additions and new companies planning to branch into the gaming industry. Counterfeit products are an issue to which will affect the sales of games. Even though extensive measures have been implemented to prevent such from happening, with time, the market will also manage to find ways around any security imposed. It has already been demonstrated that new technologies have been implemented by competitors which will provide intuitive gaming experiences at almost the same level as Nintendo. That being said this poses as a threat to one of Nintendos competitive advantage being product differentiation. The ever advancing technology market has allowed companies to enter into the gaming market. A major threat would be newer companies indulging into this market with even more advance peripherals and capabilities .A potential threat could be Apple which already have the motion detection and touch screen technology implemented into their iPhone and iPad. Sony took a risk putting the Blu-Ray player into the PS3, whilst Microsoft only offered the HD-Dvd drive as an extra peripheral so they could charge less for their console. This is often touted the main reason the Blu-Ray standard won. There were 5million PS3s in the market and less than 1million HD-Dvd players when Toshiba decided to pull the format. I always emphasise the Nintendo goal of putting smiles on the faces of everyone we touch whenever I visit our Global companies, both in Japan and throughout the world, and I think Im getting the message across. I want everyone at Nintendo to know I expect everything that they do, their every action, to lead to this goalà ¢Ã¢â€š ¬Ã‚ ¦. Although our employees are all over the worldà ¢Ã¢â€š ¬Ã‚ ¦ we are all unified to achieving Nintendos corporate mission (-President Satoru Iwata, CRS Report, 2009). As Mr. Iwata said, Nintendo works to put smiles on the faces of everyone we touch (President Satoru Iwata, CSR Report, 2009), which shows that, Nintendo sincerely cares about the video game players, and always strives to bring unforgettable experiences to these consumers through continuous innovation and improvement. This is one of the secrets behind their success. CROSS COMPARISON Why they throve during recession. What do they have in common Particular focus on: Good relationship and communication within the company. Long term orientation Strong commitment for a good brand image [WiiStrategyCanvas.jpg]

Mercantilism & economic school Essay

Mercantilism was a dominant economic school on Europe in XVI-XVIII century. The theory suggests that the global turnover of international trade is constant and the prosperity of a nation depends on the government ability to support a positive balance of trade with other nations. Mercantilism considers economic assets as a set of stock including gold, silver and trade value (bullion). The way for the government to increase the capital is to intervene into economy through the system of tariffs and restrictions aimed on increase of export and decrease of import. There are several basic flaws in mercantilism. The first one is that is assumes that the turnover of international trade is stable. Thus, in case one state constantly benefits and another one constantly misses from trade the trade would very soon stop because the missing state would either become bankrupt or stop trading, leaving the advantageous state without income so both nations would loose. The second gap of mercantilism is that it does not consider costs of trade race. In case nations start to compete in increasing their export and reducing import this will cause them produce even the goods which are cheaper to buy in other countries. So, in case one nation would specialize in producing one commodity and other nation would produce another commodity, they would both benefit from exchanging those commodities. The third disadvantage of mercantilism is that it does not take into account the influence of gold on the financial system. Endless accumulation of gold and silver ruined the financial system of Spain in the XVII century, as the nation suffered from enormous inflation. The entire branches of home economy were ruined resulting in dramatic reduce of export and collapse of mercantilist economy. Absolute Advantage Theory Originally proposed by Adam Smith, this theory relies on the ability of one nation to produce commodities with fewer costs and exchange those commodities to the ones other countries produce at lower costs. The need for less resources to produce a particular good results in its lower and attractive price on the international market and allows nations to specialize in production of some exact commodities both for home market and export thusly reviving global economy. The first flaw of the absolute advantage theory is that it reviews isolated commodities. It says â€Å"in case we produce A better than another nation and another nation produces B better than we, so we would exchange†, but it does not consider relative expenses of such production. In his famous example with wine and wool produced by Portugal and Scotland Ricardo proved that although Portugal produced both with fever relative costs, it would be more advantageous for Portugal to produce only wine and let England produce wool to exchange for wine with Portugal as the relative expenses of production of wool in England are lower than of wine. The second gap of the theory is that it excludes countries which have no absolute advantage in any commodity out of global economy thus reducing the global turnover and excluding workers and financial resources of that nation out of global economy. In case this theory is applied, economy would turn into a club of nations which have certain absolute advantage in comparison to all other nations. Comparative Advantages Theory Originally proposed by David Ricardo, this theory suggests that every nation would benefit from production and export of only those goods and commodities which are produced with lower marginal costs than in other countries. Given that all the goods can be produced inside one country with an absolute advantage, this country would still benefit from import of goods which are produced with lower marginal costs in the other countries. The first remarkable disadvantage of the theory is that in case every nation would hypothetically specialize in only one commodity this would result in elimination of competition in production of this commodity and let the producing nation speculate. The lack of both home and international competition would make nation strive to reduce costs in production of this commodity reducing its quality. Other countries which are economically dependent on the import of this commodity would not be able to combat such a development. The second disadvantage which is especially obvious in the modern economy is that the relative advantages theory does considers only the flow of goods, but not capitals, investments and debts. For example, producing debts costs nothing, so it would be absolutely economically advantageous to produce debts. Yet this gives an advantage only for a very short term, while soon the nation would face a huge demand for currency to pay for the assets, and as a result the export would be ruined while the import would boost devastating the economic grounds for prosperity. The third gap is that short-term advantages can turn into long-term disadvantages. Sometimes it can be necessary for a nation to launch new industries which would become effective in a long term, so it has to give up on the comparative advantage theory to make profits in future. The Theory of Factor Endowment This is a mathematical theory of international trade proposed by Heckscher-Ohlin. Further developing Ricardo’s comparative advantage theory Heckscher-Ohlin offered to predict patterns of commerce based on endowments of a trading region. Comparative advantages are determined by the country’s funds like land, labor and natural resources. Assuming that both countries have equal technological development, each of them would benefit from trading goods requiring inputs of endowments that are locally abundant. For example, in case a nation has much land but little labor it would benefit from agricultural production. The flaws of the theory are as follows. First is that the states do not initiate trade as themselves, which is usually done by firms and corporations, and those firms strive to increase their benefit but not to make use of the factor endowment Secondly, the theory would work well in the conditions of a perfect competition that no nation ever has. The trading partners are never fully informed of the endowment factor of their vis-a-vis making it hard for them to determine the benefits of application of their own endowments. Thirdly, as the theory considers only funds, it does not look at the technological development which is never completely equal between various countries, as well as the theory does not consider the influence of organizational and management factors that can make a nation effective in production of a particular commodity even if the nation comparatively lacks endowment. Bibliography 1. Ball, Donald; McCulloh, Wendel, Geringer, Michael; Frantz, Paul; Minor, Michael. (2003). International Business: The Challenge of Global Competition. McGraw-Hill/Irwin; 9 edition. 2. Mankiw, Gregory N. (2006). Principles of Economics. South-Western College Pub; 4 edition 3. Buchholz, Todd G. (2007) New Ideas from Dead Economists: An Introduction to Modern Economic Thought Plume; Rev Upd edition

What Is the Importance of Public Administration in Ghana

gStructure of the new local government system The new local government system is made up of a regional coordinating council (RCC) and a four-tier metropolitan and three-tier municipal/DAs structure. Composition of structure The RCC consists of the regional minister as chairman and his deputies, the presiding member of each DA and the district chief executive of each district in the region, two chiefs from the regional house of chiefs and the decentralized ministries without voting rights.A DA consists of the district chief executive,   two thirds of the members directly elected by universal adult suffrage, the members of parliament (MPs) representing constituencies within the district, and not less than 30% of the members appointed by the president in consultation with chiefs and interest groups in the district. The district chief executive is nominated by the president, approved by two-thirds of the members of the DA present and voting, and appointed by the president. The assembly has a presiding member who is elected from among its members by two-thirds of all the members of the assembly.The sub-district structures include: †¢ The sub-metropolitan DCs which consist of not less than 25 and not more than 30 members, made up of all elected members of the assembly in that   sub-metropolitan district and such other persons resident in the sub-metropolitan district appointed by the president. †¢ The urban council consists of not less than 25 and not more than 30 members made up of not more than eight persons elected from among the members of the relevant DA, not more than 12 representatives from the unit committees in the area of authority of the urban council and not more than 10 persons ordinarily resident in the urban area. The zonal council consists of not less than 15 and not more than 20 members made up of not more than five persons elected from among the members of the relevant municipal assembly, not more than 10 representatives from the unit committees and not more than five persons ordinarily resident in the zone. †¢ The town/area councils consist of not less than 15 and not more than 20 members made up of not more than five persons elected from among the members of the relevant assembly, not more than 10 representatives from the unit committees and not more than five persons ordinarily resident in the town or area. The unit committee consists of not more than 15 persons made up of 10 elected persons ordinarily resident in the unit and not more than five other persons resident in the unit and nominated by the district chief executive, acting   on behalf of the president. Elections to all local government bodies are on a non-partisan basis; the elections are state-sponsored and conducted by the electoral commission. Regional coordinating councils (RCCs) RCCs are established for each of the 10 regions of Ghana. An RCC is an administrative and coordinating rather than a political and policy-making body. Its functio ns are to: monitor, coordinate and evaluate the performance of the DAs in the region; †¢ monitor the use of all monies allocated to the DAs by any agency of the central government; †¢ review and coordinate public services generally in the region †¢ perform such other functions as may be assigned to it by or under any enactment. Metropolitan/municipal/district assemblies DAs in Ghana are either metropolitan (population over 250 000), municipal (one town assemblies with populations over 95 000) or district (population 75 000 and over. ) There are three metropolitan assemblies, four municipal assemblies and 103 DAs.A metropolitan/municipal/DA is: †¢ created as the pivot of administrative and developmental decision-making in the district and is the basic unit of government administration †¢ assigned with deliberative, legislative as well as executive functions †¢ established as a monolithic structure to which is assigned the responsibility of the totality o f government to bring about integration of political, administrative and development support needed to achieve a more equitable allocation of power, wealth and geographically dispersed development in Ghana constituted as the planning authority for the district. Functions of the assemblies These are deliberative, legislative and executive. Section 10(3) of Act 462 lists them as follows: a) be responsible for the overall development of the district and shall ensure the preparation and submission through the regional coordinating council for approval of the development plan to the commission and budget to minister of finance for the district b) formulate and execute plans, programmes and strategies for the effective mobilization of the resources necessary for the overall development of the district ) promote and support productive activity and social development in the district and remove any obstacles to initiative and developmentd) initiate programmes for the development of basic inf rastructure and provide municipal works and services in the district e) be responsible for the development, improvement and management of human settlements and the environment in the district f) in cooperation with appropriate national and local security agencies, be responsible for the maintenance of security and public safety in the district ) ensure ready access to the courts and public tribunals in the district for the promotion of justice h) initiate, sponsor or carry out such studies as may be necessary for the discharge of any of the functions conferred by this Law or any other enactment perform such other functions as may be provided under any other enactment. Sub-district political/administrative structures These being subordinate bodies of the DAs, they perform functions assigned to them by the instruments setting up by the assemblies or delegated to them by the assemblies.They are constituted by the sub-metropolitan DCs, urban/town/ zonal/area councils, and unit committee s. Sub-metropolitan DCs These structures are immediately below the metropolitan assemblies. There are 13 of these structures established by law. These are shown below: This arrangement has been dictated by the complex and peculiar socio-economic, urbanisation and management problems which confront these three metropolis. Urban councils Urban councils are peculiar to settlements of â€Å"ordinary† DAs.They are created for settlements with populations above 15 000 and which are cosmopolitan in character, with urbanisation and management problems, though not of the scale associated with the metropolis. Thirty-four of these councils are established by law. Zonal councils The zonal councils are in the â€Å"one-town† municipal assemblies of Cape Coast, New Juaben, Tamale and Tema, for which the establishment of town/area councils will raise problems of parallel administrative structures. There are 108 of such zonal councils for the four municipal assemblies.They are based o n the electoral commission’s criteria of: commonality of interest, population of 3000 and identifiable streets, land marks, etc. as boundaries. Sub-Metropolitan District Council under Respective Metropolitan Assemblies Assembly Accra Metropolitan Assembly Kumasi Metropolitan Assembly Shama Ahanta East Metropolitan Assembly Ablekuma Asokwa Sekondi Ashiedu Keteke Bantama Takoradi Okaikwei Manhyia Shama Ayawaso Kpeshie Osu Klottey Subin Town/area councils These are found in the metropolitan assemblies and DAs. In the DAs, town councils are established for settlements with populations between 5000 and 1500.Area councils exist for a number of settlements/villages which are grouped together but whose individual settlements have populations of less than 5000. They cover areas with predominantly rural populations and in some cases can be identified with spheres of influence of a particular traditional authority. They are essentially rallying points of local enthusiasm in support of a new local government system. A unit is normally a settlement or a group of settlements with a population of between 500–1000 in the rural areas, and a higher population (1500) for the urban areas.Unit committees being in close touch with the people play the important roles of education, organization of communal labour, revenue-raising and ensuring environmental cleanliness, registration of births and deaths, implementation and monitoring of self-help projects, among others. Committees of District Assemblies In the performance of its functions, the DA works through the executive committee and its subsidiary committees of development planning, social services, works, finance and administration, and justice and security. Executive committeesThe functions of the assembly are performed by the executive committee, which is presided over by the district chief executive and consists of not more than onethird of the total number of members of the assembly excluding the presiding memb er. Heads of departments of the assembly attend the meetings of the relevant sub-committees and advise them on the execution of their functions, but may not vote. A sub-committee can also coopt persons to attend its meetings but also without a vote. The functions performed by the executive committee are to: coordinate plans and programmes of the sub-committees and submit these as comprehensive plans of action to the DA †¢ implement resolutions of the district in collaboration with the office of the DA †¢ oversee the administration of the district in collaboration with the office of the district chief executive †¢ recommend where it considers necessary – in the case of departments outside 364 the supervision of the assembly which are in the district – to the appropriate government ministry/department/agency the appointment and replacement on stated grounds of officers within the area of authority of the assembly adopt measures to develop and execute appro ved plans of the units, areas and towns and sub-metropolitan districts within the area of authority of the assembly †¢ recommend to the DA the coordination, integration and harmonisation of district development plans and policies. Sub-committees of the executive committeeThe sub-committees of the executive committee and the functions they perform are shown below: Development planning sub-committee †¢ takes a comprehensive look at the district †¢ identifies the economic resources/potentials of the district †¢ develops an information base on the resources identifies opportunities and constraints for the exploitation of these resources †¢ prepares exploitation and phasing plans and strategies †¢ consults with other sub-committees and the private sector for the implications that the proposed district plan may have on other sub-committees’ plans †¢ submits the plan to the executive committee for harmonisation with other sub-committee plans. Socia l services sub-committee †¢ takes a comprehensive and long-term look at areas of social development in the district, in particular education, health, social welfare, sports, culture, etc. develops the information base on these areas of social development†¢ prepares a social development plan (long-, medium- and short-term) for the district Sub-Committees of the Executive Committees of the Assembly District Assembly, Executive Committee Development Planning Sub- Committee, Social Services Sub- Committee, Works Sub-committee, Finance Administration, Justice/ Security †¢ identifies the strengths and weaknesses in the social services areas †¢ examines the implications of the social development plan on other sub-sectors of the district economy submits the plans to the executive committee for harmonisation. Works sub-committee The functional areas of the works sub-committee includes roads, electricity, sanitation, water, etc. Within the general framework of Act 462 and the specific functions in the legislative instruments that establish the various assemblies, this sub-committee: †¢ takes a comprehensive look at the infrastructure needs and problems of the district †¢ develops an information base on each of these programme/functional areas †¢ maps out, initiates and phases out programmes for their development and/or provision examines the implications of such actions for the other sub-committee proposals †¢ submits the programmes to the executive committee for harmonisation and action.Finance and administration sub-committee This sub-committee †¢ examines the general financial position of the assembly †¢ examines the revenue mobilisation and expenditure trends of the assembly †¢ maps out strategies to improve revenue mobilisation in the present and sets targets for the future †¢ submits financial plans to the executive committee for harmonisation with other sub-committee plans identifies strategies to ensure judicious utilisation of available resources. Justice and security sub-committee This sub-committee is set up to resolve intra-district and inter-district conflicts and to consider issues that pertain to the enforcement of by-laws of the assembly. To achieve these purposes, the sub-committee: †¢ examines these and other related conflict areas †¢ recommends to the executive committee ways and means to resolve disputes †¢ ensures ready access to the courts and tribunals for the promotion of justice in the district, e. . making sure that premises are available for use by community tribunals and that police logistics are adequate. A DA can form any other sub-committee, depending on the peculiarities of its environment or its area. The committee’s discussed above are, however, mandatory. They can be dissolved and reconstituted but cannot be replaced, for example by a task force. Sub-committees of metropolitan assemblies These and their subject areas are shown in Ap pendix 2. Boards of metropolitan assembliesFor the efficient performance of its functions, a metropolitan assembly has three metropolitan boards: †¢ Metropolitan Planning Board †¢ Board of Metropolitan Works †¢ Board of Administration. The Sub-districts – New Decision-Making points for Poverty Reduction using the Sub-district Development Fund Saboba Introduction At the design stage of DSDA II, an Economic Development Component (Sub-district Development Fund) was suggested as a means to support economic development at the district and sub district levels. An amount of 14. 87 million DKK (US $ 2. 25 million) was earmarked over four years, to support activities of this component. This was designed to reduce poverty through the provision of social infrastructure and improved incomes, while strengthening the institutional and human capacity of the districts and economic stakeholders to manage these resources in an efficient and accountable manner. During the impleme ntation stage a great number of lessons and experiences with regards to the Sub-district Development Fund (SDDF) herein after referred to as the Fund were accumulated and documented.The processes undertaken to reach these are highlighted in this chapter. The Best Practices and Lessons at the Design Stage dentifying and Establishing the Guiding Principles and Objectives Lesson One:Prior to the implementation of the Fund, an exercise was undertaken to establish guiding principles and objectives. The Fund, over the four-year period, operated around a number of principles which comply with the overall framework of Ghana’s decentralisation and poverty reduction programmes and these were: * Broad stakeholder participation in decision making; * Demand-driven;   Need and commitment; *   Viability and ownership; * Equity in resource allocation and targeting; * Decentralised development; and * Local capacity building and sustainability. The objectives which guided the support activ ities and the developed systems were: * To support social and economic development investments that will serve as catalyst for further economic opportunities in ruru mmunities. * To strengthen the existing local government structures and institutions to provide services for decentralised development (financial, training, business development, project management, etc).   To enhance local decision making in project selection and implementation involving relevant stakeholders; * To deepen the sense of community ownership and responsibility for projects, especially post delivery operation and maintenance; and * To promote effective monitoring and evaluation of project implementation, utilisation and management for sustainability. Developing Effective Core Strategies and Approaches Lesson Two: For the SDDF, several strategies were developed through broad stakeholder consultation and validation.These consultations culminated in the formulation of specific strategies for implementation. A model strategy for poverty reduction, focusing on economic and social development was developed to guide implementation. In principle, three-tier strategy model proposed the targeting of economic funds towards projects with the highest potential to serve as catalysts for economic growth. Option 1: Regional economic promotion facility located at the regional level to cater for activities that seek to integrate economic development.Option 2: A district economic development policy and promotion facility, to support D As to establish district-based strategies and policy for economic development; and, Option 3: Community economic development facility categorised into: (a)  Ã‚  Ã‚   Economic Associations targeting those engaged in common economic vocations requiring common facilities and services to enhance their production activities; and (b)  Ã‚  Ã‚   Entire communities: where they require a common asset to broaden economic opportunities for all its residents.Each option was alloc ated a certain percentage of the total funds on the basis of major principles. Stakeholder Consultation and Decisions Lesson Three: Following the formulation of an entry strategy, stakeholders reached agreement on the feasibility of the strategy and made inputs towards owning it. Participating stakeholders included personnel of the Regional Coordinating Council and other regional institutions, personnel of the District Assembly and other district institutions, community level opinion eaders, representatives of women groups and credit/business advisory bodies. These consultations were organised first at the regional level and later at the district level. Involving stakeholders in project conception and inception was found to be critical for purposes of ownership and sustainability. The Best Practices and Lessons at the Implementation Stage At the implementation phase a number of lessons were learnt and some best practices emerged as follows: A Well Defined Implementation Plan and Pro cess Lesson One:The project cycle of the SDDF, was perceived as something beyond a mere list of activities. The processes were defined and shared to ensure their feasibility in relation to anticipated outputs. The instruments to facilitate effective implementation were pre-designed, discussed and modified appropriately. (i) Orientation of beneficiaries on SDDF as an Entry-Strategy: Following stakeholder validation of the economic development model and strategy, detailed orientation sessions in the two regions were organised.

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