XYZ Company

Presentation The impacts of government strategies on the working and a drawn out arrangement of an undertaking are undisputable. The idea of free market economy isn't without an administration component that controls the activities from separation and in undetectable manners. Government financial and fiscal arrangements influence the activities of private organizations.Advertising We will compose a custom paper test on XYZ Company explicitly for you for just $16.05 $11/page Learn More On the one hand, government’s activities strongly affect an evaluating strategy, an extension choice, and other operational choices embraced by a private undertaking (Agenor, Izquierdo Jensen, 2009). Strategies identified with antitrust laws, financial, and fiscal arrangements influence private endeavors legitimately. Then again, arrangements identified with condition, exchange relations, and universal approaches influence privately owned businesses in a roundabout way. The sportswear showcase is a prevailing structure, which needs to extend and grasp globalization so as to stay serious in an exceptionally monopolistic market. This paper talks about the imaginary games clothing organization XYZ and the impact that administration approaches have on its extension designs and long haul speculation choices. Nonetheless, the paper will start with a conversation of the improvement of an inelastic estimating strategy. An Inelastic Pricing Policy: Rationale Inelastic valuing strategy of an item is done so as to have inelastic interest for the item. The point of the inelastic evaluating is to have a benefit boosting sports attire brand. Picking up benefit augmenting is generally characterized as setting the scope of costs, at which the minor income of the item is zero. Benefit amplifying will guarantee inelastic costs for an organization (McEacherm, 2011). For example, the peripheral expense of the brand and relationship of the brand with the games big names will twofold the impact of the intrigue of the item to the clients. This will guarantee an inelastic interest for sports, since attire isn't purchased basically for the item itself yet for the relationship of the item with the game or the games character. Subsequently, the value that the customers are eager to pay isn't for the item however the relationship of peripheral ability that is identified with the item. Subsequently, the games attire brand needs to connect itself with the top gifts in the business to guarantee that their valuing can be inelastic, at the cost is likened not with peripheral expense revenue driven augmentation, however with negligible ability of the sportsperson. Impact of Government Policies on Production and Employment The way toward recuperating from disappointment of capital activities is through refocusing. Separated of amassing, all the key individuals associated with the arranging procedure must be pulled together to evaluate the disappointments and provisos in the arranging p rocedure and do a legitimate demonstrative check. Typically what organizations do is attempting to decrease cost and misfortunes by getting back on time at the earliest.Advertising Looking for paper on business financial matters? How about we check whether we can support you! Get your first paper with 15% OFF Learn More However, this is a knee-twitching reaction to the issue, and in doing as such, organizations as a rule don't distinguish the genuine explanation of disappointment. In this way, the best alternative is to invested quality energy to assess the issue and address it. Complete straightforwardness in the operational procedure and the execution procedure is fundamental. Further responsibility is likewise significant. Keeping up a total and careful review preliminary is basic for the organizations to guarantee legitimate documentation of the task procedure. What's more, as it has been referenced over, the suspension of a company’s imposing business model decreases job lessness rates significantly. By opening new chances or different undertakings inside the objective market, government will give more individuals the odds to find a new line of work. In this manner, the joblessness rates will dive. Impact of Government Policies XYZ Company In a review, the impacts that legislature has had on the XYZ Company are somewhat noteworthy. To begin with, it is inappropriate to guarantee that legislative guideline of the company’s procedures can be characterized as exclusively negative. Very in actuality, it appears that the XYZ Company can arrive at harmony between the negligible income and minor cost bends. More forthright, perceiving how the XYZ Company is characterized as a monopolistic one, just as that the organization works inside a monopolistic market, the presentation of administrative guideline takes into account setting the costs for the company’s administrations that will be significantly higher than the previously mentioned minor e xpense, accordingly, expanding the company’s benefit. In any case, the impacts that the administrative management has on the XYZ Company’s forms are somewhat various; especially, the way that the legislature will lessen the company’s authority over market cost ought to be referenced. When the XYZ Company can't acquire higher benefit and remain the monopolist for the offered types of assistance, it should address various issues, including the way to battle the contenders proficiently, think of the new methods for drawing in target clients, scan for assets and data quicker than the adversary organizations, and so on. The previously mentioned tasks will request great measures of cash, which surmises that the XYZ Company should cut on a few expenses, conceivably including the inbound and outbound coordinations (the decision of the asset transportation strategies ought to be reexamined), just as the current techniques for marketing.Advertising We will compose a custo m article test on XYZ Company explicitly for you for just $16.05 $11/page Learn More Is Government Regulation Needed for XYZ Company/Industry? The data gave above shows obviously that the XYZ Company doesn't really require the obstruction of the administration into its authoritative, money related and creation forms; truth be told, knowing very minimal about the points of interest of the company’s key systems, just as inside and outside variables that influence its activities, the legislature will doubtlessly accomplish more mischief than it will improve the organization’s execution (Forrest Yip, 2011). This, in this manner, makes one wonder whether the legislative guideline ought to really be empowered for SMEs as a rule and the XYZ Company specifically. Perceiving how the interruption of the administration bodies into the course of the organization has been very negative up until now, one may expect that permitting the legislative bodies meddle with the companyâ€⠄¢s strategy are altogether negative. In fact, the state specialists realize little to nothing about the XYZ Company’s operational procedures, promoting standards and authoritative culture. Along these lines, their impact on the company’s capacity to procure supernormal benefit might be wretched. What's more, it will be more enthusiastically for the XYZ Company to stay monopolistic once the state specialists will assume responsibility for the majority of its procedures. In any case, while considering the previously mentioned changes nearer, one will see that the legislative impact permits the XYZ Company to increase better seriousness. Decency of Government Policy Government strategies strongly affect invigorating business sector request and extension of the market for associations, just as creation and work in private part. The proof of the beneficial outcome on open capital venture, foundation and other formative work in the predetermined away from home is apparent à ¢â‚¬ with an expansion out in the open spending, there is an increment in assets just as an expansion in the profitability of the current assets accessible to the privately owned businesses. For example, another expressway joining the modern belts permits trucks to move merchandise quicker. The decrease in the time taken by truck drivers to move the items infers less harm to the trucks and more noteworthy efficiency by methods for diminishing pay paid to the drivers by the makers. Subsequently, government spending on development of an interstate has a positive externality on the all out expense of creation of the privately owned businesses. Further, government spending on training, sewers, hospitalization, and so forth helps in making an increasingly taught and sound workforce that encourages privately owned businesses to build business. As such, open spending helps increment the employability of the working age populace (OECD, 2012). Significant Reasons for Government Involvement i n a Market Economy The office hypothesis has attempted to clarify the issues between the disparate premiums of the executives and investors. The issues might be comprehended by use of the firm’s vital conduct, finding an assembly between the executives structure and investor agreement, and marking another investor and administrator contract. A few territories of erosion among investors and chiefs are section leave boundaries, authoritative latency, and a wasteful association structure (McGuigan, Moyer, Harris, 2014).Advertising Searching for article on business financial aspects? We should check whether we can support you! Get your first paper with 15% OFF Find out More In the office hypothesis, one of the most common strategies for speaking the interests is through ESOPs (representative investment opportunities). Investment opportunities given to representatives acquaint administrators with the position of investors, and, henceforth, assist supervisors with augmenting shareholders’ riches. Another technique assumes the implementation of a holding system in the organization. Hence, supervisors are answerable for the bonds and are responsible for them. In both the cases, the point is to improve the level of constancy among directors and investors. These techniques will guarantee more noteworthy dependability and comprehension between the administrators and the investors, whose premiums will get straight, and, subsequently, will get more prominent benefit

Moral Accountability Essays (1596 words) - Social Philosophy

Moral Accountability Arthur Washburne Prologue to Philosophy Moral Accountability Profound quality relies upon the capacity of a person to pick among great and shrewdness, in this manner, involving opportunity of the will and the ethical obligation of the person for his activities. It is clear this is so for the individual, yet shouldn't something be said about gatherings and governments? Do they can pick among great and malice, do they have unrestrained choice and along these lines are they dependent upon indistinguishable ideal models of profound quality from the individual or does a self-governing ethical quality apply. Imagine a scenario in which we relate this idea of ethical quality to a current day moral problem. For example, should the United States government fire journey rockets at Serbian urban areas so as to compel the administration of Serbia to conform to NATO requests of withdrawal from Kosovo? What good inquiries ought to be posed? Further yet, as we are individuals from an agent majority rules system, do the residents bear any of the obligation of the administration's activities? Am I answerable for the administration I pick? Being that it is the activities of an administrations we wish to scrutinize the profound quality of, we should comprehend what the current defense possibly in support of the dispatch of journey rockets at Serbia and what the outcomes of that choice would be. It very well may be guessed that the official levelheaded of the United States government in its choice to utilize voyage rockets on Serbia depends on cost/advantage examination of what might be to the greatest advantage of the country and the worlda utilitarian profound quality. The Serbian government has attacked and tries to subvert the power of Kosovo while utilizing destructive strategies to control the populace. The US is following up on what it accepts to be the best useful for the best number. Be that as it may, who is the administration to put a market an incentive on human life? Is it moral and does the administration reserve the option to place such an incentive on human life? Furthermore, who is liable for their choic e? The official utilitarian basis of the United States government places a market an incentive on human life Kant composes: Now ethical quality is the condition under which alone a judicious being can be an end in himself, for no one but consequently would he be able to be an administering part in the realm of finishes, endurance of the person in a gathering is the end. On the off chance that we are to treat men in any case, as a way to an end, we should make that an all out objective and we should regard it as though that activity will be a general law of nature laws to live by). Consequently, to do mischief to other people, to put a market an incentive on man, would be improper since it would hurt humankind. Similarly, it is shameless for the United States to forfeit ten thousand lives in anticipation of sparing more. It must be inquired as to whether everybody relinquished ten thousand lives?. As indicated by Kants hypothesis of the Universal law, We should have the option to will that a saying of our activity become widespread law, this is the group for ethically assessing any of our activities (Kant). Maybe it is a touch unexpected that the very report the US was established on peruses: We hold these facts to act naturally apparent: that all men are made equivalent; that they are enriched by their Creator with certain unalienable rights; that among these are life, freedom, and the quest for joy. This, similar to Kant's ethical way of thinking of all inclusive proverbs, broadcasts that man has natural total worth. However, so rapidly are we prepared to dismiss this affirmation as our money saving advantage investigation directs. Subjugation was nullified on the rule of the total estimation of man. For what reason would it be a good idea for us to dismiss this now? Do we suspend the unalienable rights to life at whatever point it would be generally judicious? The United States must ask itself whether it wishes to make a saying of putting an incentive on human life. It must be recollected that by bringing down the estimation of life of others, we simultaneously bring down our own wor th. Governments and establishments are made out of a totally unexpected dynamic in comparison to that of the person. This leaves man inquisitive with regards to whether to comply with a similar arrangement of ethics. These ethical issues lead to

Coping With Sleep Disturbances During Depression

Coping With Sleep Disturbances During Depression Depression Symptoms Print Coping With Sleep Disturbances During Depression By Amy Morin, LCSW facebook twitter instagram Amy Morin, LCSW, is a psychotherapist, author of the bestselling book 13 Things Mentally Strong People Dont Do, and a highly sought-after speaker. Learn about our editorial policy Amy Morin, LCSW Medically reviewed by Medically reviewed by Steven Gans, MD on May 23, 2018 Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital. Learn about our Medical Review Board Steven Gans, MD Updated on January 07, 2020 Depression Overview Types Symptoms Causes & Risk Factors Diagnosis Treatment Coping ADA & Your Rights Depression in Kids  Frederic Cirou / Canopy / Getty Images Dealing with sleep disturbances when you’re feeling depressed can seem like a vicious circle. The more depressed you feel, the harder it is to sleep. And the more exhausted you feel, the harder it is to fight depression. It can feel like there’s no way to break the cycle. And it’s frustrating to feel tired yet be unable to fall or stay asleep. Heres what you should know about the relationship between sleep disturbances and depression. The Link Between Sleep Disturbances  and Depression Approximately 80% of people with depression experience sleep disturbances. While some have trouble falling asleep, others have difficulty staying asleep. And some find themselves sleeping too much. Both depression and insomnia involve chemicals in the brain. Changes in neurotransmitters and hormonal imbalances may affect both sleep and mood. For many years, researchers studied which came first: depression or insomnia. It was clear that the two issues often go hand-in-hand and exacerbate one another. Studies show that sleep disturbances  often occur before depression begins.?? Experiencing insomnia prior to feeling depressed may increase the severity of depression. The American Academy of Sleep Medicine now encourages treatment providers to pay close attention to whether insomnia needs to be identified as a separate condition as opposed to viewing it as a symptom of depression only. The Health Risks Associated With Depression and Sleep Disturbances Depression and sleep disturbances  can take a toll on your physical health if left untreated. One 2010 study found that lack of sleep was associated with a higher risk of early death.?? Lack of sleep increases the risk of heart disease and failure, heart attacks, high blood pressure, stroke, diabetes, and obesity. Depression can constrict blood vessels, which may increase your risk of heart disease. People with depression may experience a weakened immune system, aches and pains, and fatigue. Talk to Your Physician Difficulty sleeping may stem from an underlying medical condition, such as obstructive sleep apnea. Restless leg syndrome and bruxism (teeth grinding) can also interfere with sleep. These medical issues may cause sleep problems that worsen or cause depression. It’s important to talk to your physician about any sleep problems or depressive symptoms you’re experiencing. Your physician can assess whether you have underlying health issues contributing to your conditions. Depression-Like Symptoms That Arent Depression See a Therapist Talk therapy can be helpful in managing symptoms of depression, including sleep disturbances. Cognitive-behavioral therapy (CBT) is effective in treating insomnia and depression. For sleep issues, a therapist may assist you in changing your habits, such as getting out of bed when you aren’t able to sleep and getting up at a certain time each morning to help you sleep better in the evening. Cognitive-behavioral therapists can also help you change your self-talk. Thinking you are helpless and hopeless, for example, can compound your symptoms. While reframing your negative self-talk can help you feel better and help you sleep better. Types of Therapy for Depression Medications Can Also Help Medication can also be used to treat insomnia as well as depression. A physician or a psychiatrist can help determine what type of medication will work best for youâ€"as well as which symptoms should be treated first. Develop Good Sleep Hygiene Habits Good sleep hygiene habits can also help you sleep longer and more soundly. A few changes to your daily habits and your bedtime routine can make a big difference. Avoid Alcohol A glass of wine or finger of brandy is often used as a tool for relaxation, as well as a way of coping with anxiety or depression. However, alcohol consumption disrupts your sleeping pattern, so you are more likely to wake up during the night. While a glass of vino might help when you’re falling asleep, it’s not going to do much for staying asleep throughout the entire night or feeling rested the next day. Meditate and Relax Depression can cause you to ruminateâ€"thinking about the same things over and overâ€"which can keep you up at night. Meditation strategies or other relaxation exercises can help calm your mind and get you ready to fall asleep. These might include yoga or deep-abdominal breathing. Take about an hour before bedtime to unwind by turning off all electronics, taking a warm shower or bath, and decompressing in preparation for sleep. The Negative Effects of Rumination Journal About Your Worries If your worries or repetitive negative thoughts aren’t going away with relaxation strategies, find a notebook and write down the troubling thoughts. This contains the thoughts that might keep you awake as your brain goes over them again and again. You might even designate a bit of time before bedtime as your designated “worry time,” so you can really clear your mind. Get Out of Bed If you’re not tired, don’t just lie there tossing and turning. Get out of bed, go into another room, and engage in some light activity, such as reading. Avoid using anything with a screen, such as your phone or laptop. Research suggests that the blue light that these devices emit interferes with normal circadian rhythms and can cause further sleep disturbances.?? When you feel drowsy, go back to bed for what will hopefully be  a more successful attempt at sleeping. Spend Time Outside During the Day Spending time in natural light during the day can help regulate your circadian rhythm. The internal biological clock that regulates the sleep-wake cycle is influenced by light; when there’s less light at night, your body releases melatonin. In the morning, the sun cues your brain and body to wake up. If you’re spending all your time indoors in the dark, you might suffer from sleep problems. Regular exercise can also help with sleep issues, as well as depression, provided it’s not done immediately before bed. A Word From Verywell Depression and sleep difficulties are definitely a challenge. But seeking professional help is key to feeling better. You might find you sleep better when you are feeling less depressed. Or, you may find sleeping better eases your depression. Both conditions are treatable and they can get better with professional support. The Best Online Help Resources for Depression

The Creation Of God And Frankenstein - 982 Words

In order to make something great, one always has the possibility to have faults and consequences in their actions. Perfection is not a goal to be reached, as it can only be strived for. When God created man, he was trying to create a companion to share the world with. When Frankenstein created his monster, he was trying to conquer death. God and Frankenstein both created their own definitions of mankind and while there were differences in their results, they went about it in a similar manner, causing both good and bad consequences. God’s creation process was quite different from Frankenstein’s. When God created man, he used only pure materials. According to the Bible, He used pure dirt and water, forming the clay with which he molded man. He then breathed the â€Å"breath of life† into Adam and He used Adam s rib to create Eve. In order to make them pure, he used resources from the earth he created (Genesis 1-3). â€Å"The Uniqueness of the Genesis Creation Stor y† explains how pure God’s creation was: Genesis says God spoke all things into origination. This does not mean He uttered words that possessed inherent magical powers. Rather, the irrevocable power of God’s creation words was grounded in the authority of God Himself. Unlike the nature deities whose existence was limited to the world’s system, God existed before creation and above creation. Also, creation was not the emanation of divine person or power. It was separateShow MoreRelatedMary Shelley s Frankenstein And The Modern Prometheus1141 Words   |  5 PagesIf you had the chance to be â€Å"God† to someone, do you think that you would take that chance? 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Much like Genesis, the story of Frankenstein is a viable creation story. The book of Genesis first explains the creation of man and woman, and also recounts the fall of humanity. Unlike Genesis, Frankenstein begins with the fall of humanity, leading into the creation of man

Essay Colonising Within the Marriage in Rhyss Wide...

Colonising Within the Marriage in Rhyss Wide Sargasso Sea Jean Rhys complex text, Wide Sargasso Sea, came about as an attempt to re-invent an identity for Rochesters mad wife, Bertha Mason, in Jane Eyre, as Rhys felt that Bronte had totally misrepresented Creole women and the West Indies: why should she think Creole women are lunatics and all that? What a shame to make Rochesters wife, Bertha, the awful madwoman, and I immediately thought Id write a story as it might really have been. (Jean Rhys: the West Indian Novels, p144). It is clear that Rhys wanted to reclaim a voice and a subjectivity for Bertha, the silenced Creole, and to subvert the assumptions made by the Victorian text. She does so with startling results.†¦show more content†¦Nobody want you (WSS 9). Though this is a childish taunt in the novel, the truth of it is that nobody does want Antoinette; as Teresa OConnor points out, not even her own mother: Antoinette is also alienated from the meagre remains of her family itself, and, most specifically, from her mothers love (Jean Rhys: the West Indian Novels, 172). The second part of the novel marks the beginning of the marriage between Antoinette and the English gentleman (normally identified as Rochester from Jane Eyre; he will be referred to as such for the remainder of the essay). The Marriage contract itself, interestingly, is negotiated and put into action by a series of men: Rochesters father and brother, Antoinettes stepfather and, subsequently, her step-brother, Richard Mason. When Antoinette herself puts up a half-hearted resistance to the marriage, both Rochester and Richard Mason step in to push the contract along. Already, Rhys, within the marriage, establishes action as a male characteristic and inertia as female. As the narrative moves into part II, Rochester takes over from Antoinette as narrator. Also, the feelings of displacement and problems of identity are shifted onto him. Rochester, at Granbois, experiences a complete lack of power normally exercised by the English gentleman, at once having to deal with the strange otherness of the West Indies and cope with the rejection by his father and brother. According

Body Language in the Workplace Free Essays

The book deals with how Body Language affects your business career and illustrates you step-by-step examples on the effect of Body Language and how to use it in favour of your success. The author’s Allan Barbara Pease both come from the Business World and established this book together, developing specific techniques trough personal experiences. Allan Pease made his first personal experience with the effect of Body Language as a Teenage Boy, working as a door-to-door salesman for a rubber sponge company. We will write a custom essay sample on Body Language in the Workplace or any similar topic only for you Order Now He quickly learned, by watching the people’s Body Language on what they were thinking and then found a way to persuade them to willingly buy the rubber sponges without them noticing it. He later worked as a successful salesman for an Australian Life Insurance Company. The Book is a â€Å"How to† Book and designated to prospective and current Business People. The author adresses the reader directly, which gives a more personal approach to the Book. The author’s style is very informal, the quality of writing is very clear and original which makes it easier for the reader to follow and not get bored. It suits the intended audience. Body The book contains seven Chapters, each chapter representing a different situation the reader is confronted with in his/her everyday Business Life, making it easier for the reader to identifiy himself/herself in the examples and adapting them more easely. Each example is given an additional illustration or specific situation so the reader is directly involved in the situation and understands better what the author is refering to. Furthermore, there are 14 Business rules spread out over the book. More precisely, each chapter contains 2 Business Rules that have to be remembered. Moreover, the book is divided into two different categories: ‘A woman in Business’ and ‘A man in Business’. The first chapter has the Title â€Å" Interviews: How to Get the Job†¦Every Time; Are you Sitting Comfortably ? How to Sit, Where and Why â€Å" . It discusses how a First Impression is made and how to work on it. The first impression is more important than what is written on your Curriculum Vitae. The Interviewer will remember your appearance rather than what College you attended. This chapter also tells you what to do and what not to do in an interview, by example not to wear a Goatee because it represents Satan and people will most likely repel people subconciously. Furthermore, the chapter sow the reader how seating arrangements can change your whole position and what type of Table is most suitable for a Conference. The second chapter has the Title â€Å" How to Take Your Career in Your Hands: the Art of Handshaking, Networking and Surviving the Office Party†. In this chapter the reader learns what a Handshake can do to his/her professional career, in other words : â€Å"A good handshake can be the difference between a career boost and career suicide†. Furthemore, the reader learns how to behave at an Office Party and how to boost your popularity. The third chapter, â€Å"Persuasive Presentations† shows the reader how to behave during a Presentation, taking a close look at the audience and work with Power Point Presentations. In this chapter the reader learns that the audience sitting on their left is more likely to be attentive and respondend to Jokes than the audience sitting on their right. The fourth chapter, â€Å"Mastering Meetings and Perfecting Phone- and Video-Conferencing† tells the reader how to behave during a Video Conference, watching his/her Body Language and adapting the speed of Voice and sound to the other person during Phone- and Video-Conferences. The fifth chapter, â€Å"The Best-Kept Secrets of Successful Businesspeople† demonstrates the reader how to make himself/herself â€Å"taller† in the Businessworld, since it is proven that taller people get higher positions and therefor higher salaries. Moreover, this chapter shows the reader how to use eye contact and moderate smiling in specific situations. The sixth chapter, â€Å"Globalisation: The Perils and Pitfalls† shows the reader to take into consideration foreign Body-Language, especially in the Business World where people travel a lot. The authors give the most common example of Japan,where certain aspecst of Body Language are perceived differently than in Europe and how misleading Body Language can ruin a Business Plan. For example, when Japanese people nod their head while you are speaking does not mean that they are in complete agreement with you, but they are rather telling you that they are listening and that you should keep on talking. The seventh and last chapter, â€Å"Office Politics, Power-Players, Office Romances and Other Ticking Bombs† gives the reader examples on how to avoid intimidation by superiors,seeing who’s surfing on the internet and who’s really working at home, how to spot and â€Å"office romance† and most importantly how to deal with stress. Conclusion The Book gives a clear and specific Guideline on â€Å"How to† Behave in different situations , but also shows the reader the Consequences of the mistakes he/she might be making without being conscious about them. The book is easy to follow and would rather be used by people preparing for an interview. In my opinion, it is very interesting to see how such little things that are thought to be unnoticed can have such a big impact on your professional career. Personally, I encountered the same experience as the Author, Allan Pease working as a â€Å"sales person â€Å" for an NGO, but instead of doing door-to-door I had to accost the people on the street. Opening your arms to the person and showing your palms is more likely to make people stop and listen to you than moving towards them, arms crossed. It was very interesting for me to find myself in certain aspects of the book and and learn ways to improve your own appearance. I would definetly recommend this book to any person who is looking for a Job or changing Workplace and/or preparing himself/herself for a presentation. How to cite Body Language in the Workplace, Essays

Problems in Foster Care free essay sample

The ideal foster care system is very beneficial because it helps keep children that â€Å"have no place else to go† (du Pont, 48) out of the streets and in safe, protective, loving, family environments, and the people that worked in this system cared more about the children’s well-being, then maybe the foster care system would be as beneficial as it’s supposed to be. Plus the many problems with corruption, families, and disorders the children get don’t get enough attention drawn to them and the help they need isn’t provided. Therefore this comes to the conclusion that, the ideal foster care system can be achieved if the many issues and problems revolving around and within this system are resolved. Corruption has one of the lead and starring roles within foster care. It shouldn’t be this way but it is. Bribery is a large part of the corruption. For instance families are getting paid to take in drug-addicted and mentally handicapped babies. The government pays the families for three months just to secure a spot for them to be taken in; then these families get paid so much money per month for however long the babies are in their care, (Adoption, 44). In reality most of these foster â€Å"families† wouldn’t be taking in these children and babies if they weren’t getting paid. Another thing, the state by federal law gets paid money for moving children out of the system and placing them wherever just to say that they’re out. It doesn’t matter where they end up just as long as they get written and documented as out of the system, (du Pont, 47). These people that are in charge that are in charge do not care if the children are put into a worse situation or if they’re still alive and well because as long as they’re getting that bonus money they don’t care. Even if it means a child is in harm or possibly dead. â€Å" the Secretary shall make a grant to each State that is an incentive-eligible State for a fiscal year in an amount equal to the adoption incentive payment payable to the State under this section for the fiscal year, which shall be payable in the immediately succeeding fiscal year† (Adoption and Safe Families Act [1997]). This all ties into the laws, these laws are to some extent beneficial to children in foster care, but these laws benefit the government and foster parents more than anything. An example would be the New Jersey Program that basically bribes the foster parents (Adoption, 43, 44). Conna Craig was quoted saying, â€Å"Five steps forward and two steps back, which is net gain but federal law doesn’t yet fully meet the needs of children† (du Pont, 48). What Ms. Craig meant was that the foster care system’s reforms may be a little bit better but are still not at the levels they should be. Sometimes the states find loop holds that they can still acquire money. For example, the states can still be paid even if the jobs aren’t done correctly. Conna Craig makes another very good point, â€Å"If the states don’t do the job they shouldn’t get the money† (du Pont, 45). Corruption apparently plays a bigger role than what most realize and don’t care to notice. Family is supposed to â€Å"provide the kind of care and nurture that is essential to well-being† (Bartholet, 1). In the foster care system this isn’t usually the case with some foster families. The families get paid a set rate every month to take care of the child or children in their homes. So the truth is that most of them only do it for the money. If the money is cut out of the equation then there would be a major drop in the foster families, because they wouldn’t be getting paid (Canon). Texas is a prime example, when the recession hit cuts had to be made to some things and the foster care system was going to be targeted. Well the legislature realized that if the payment of the families was cut then the number of families would be on the decline (Canon). Adoptions are another problem. The adoptions cost a lot of money. Also there is more focus on reuniting the families no matter how harmful the situation (du Pont, 47). Plus the children’s parents rarely receive the help they need to change and become the caring and loving parents that are desired. Although there is a plus side, the adoptions `prevent some psychological damages. Like anything negatives are also included. Siblings are more times than not separated. This separation isn’t by choice either; it’s the just that the government doesn’t care enough to keep what family is left together. Abuse and neglect sometimes take place more in foster homes especially if the foster child is of the Lesbian, Gay, Bi-Sexual, Transgender {LGBT} sexuality. A study showed that out of the two hundred forty six families only twenty-one would welcome a LGBT foster child into their homes. Homophobia is one of the main reasons the abuse and neglect start (Canon). Having a LBGT child shouldn’t freak people out to the point that abuse has to start. The LBGT foster children in group homes have reported a higher amount of verbal harassment. In addition, seventy percent of the LGBT children have reported much physical violence as well. Things like being punched, slapped, kicked, and etcetera are all forms of physical abuse (Canon). That means foster families shouldn’t be as glorified as they are because with all of these problems they don’t deserve to be looked upon as heroes. Foster children face many challenges in their lives. Secure attachment is when infants and young children have a loving care giver consistently responding to the needs they have (â€Å"Insecure Attachment and Reactive Attachment Disorder†). These early bonds help the growth of development, trust, and the ability to build relationships. If this early bond is broken, then insecure attachment disorders occur. This is because when a baby is born, it is completely helpless so he or she relies on a care taker. The infant depends on the mother to feed and nurture and protect, but when all of that is taken away from the equation, the insecure attachment forms (â€Å"Insecure Attachment and Reactive Attachment Disorder†). These children who have the insecure attachments have learned that the world isn’t safe and don’t have the necessary experiences that are crucial to have confidence and fell confident in themselves (â€Å"Insecure Attachment and Reactive Attachment Disorder†). Children with this disorder will most likely have difficulties learning, may be aggressive and misbehave, be extremely clingy, have challenges making friends, suffer from anxiety or depression, or be delayed developmentally (â€Å"Insecure Attachment and Reactive Attachment Disorder†). In many cases the doctors misdiagnose these children with having ADHD, Attention Deficit Hyper-Activity Disorder, or Autism because the symptoms are so similar (â€Å"Insecure Attachment and Reactive Attachment Disorder†). Forty to eight-four percent of children in the foster care system have some sort of mental health disability. These numbers are so high in range because of the issues the children have faced in their lives; they have trouble dealing with trauma caused by the events in their lives that brought them into the system (Austin). The children are dealing with the monstrous loss of family, and in most cases the child blames his or her self for being taken away from their family (Austin). Even though a large number of these children need mental health care, studies show that only about less than one-third attain the services they need most. One reason is that there is a lack of well-trained and experienced mental health professionals aren’t available to these children who need it. They need professionals that can deal specifically with the trauma caused by the losses in the children’s lives, (Austin). Only about three percent of mental health providers work with the children in the foster care system, (Austin). Children who are abruptly taken away from their parents and siblings can become parentified. This is when the child becomes worried about the parents and maybe even siblings. This worry is like when a parent worries about the safety and well-being of their child. This in turn causes the children to act like or become little adults making them worry that their parents and siblings may not survive without them. This all adds to the distress â€Å"UPenn Collaborative†. Educationally, these children face many difficulties as well. Frequent moves and already being very vulnerable impacts the performance levels in school, the frequent moves in result mean many missed days of school. As well as affecting their comfort levels in school (Bruskas). Another thing is that the credits sometimes don’t transfer over to the next school. The records may also be lost in the transfer making the transition from school to school a challenge, (Bruskas). These children are facing so many challenges and difficulties in their lives. Foster care is a place for children who have nowhere else that is safe to go in their lives (du Pont, 48). This system has its ups and downs, mostly downs and will take loads of reformation to be as effective as it needs to be to be fully beneficial for the children in the most need of saving. The corruption needs to stop, some of the families need to change, and the children need more help dealing with the emotional and physical issues they have. When all this is done then, can it say that the foster care system is entirely effective (du Pont, 48). This is why the foster care system has many problems that need to be resolved before it can be called effective.

The Executive Summary Your Proposal in Two Pages or Less - The Writers For Hire

THE EXECUTIVE SUMMARY: YOUR PROPOSAL IN TWO PAGES OR LESS You have completed all of the requirements for your RFP, and are almost ready to submit it. But, you’re wondering if you need to include an executive summary. While not all RFPs call for an executive summary, some do —and some will even provide you a template for the summary. However, if the RFP does not specify any guidelines or requirements, you may still decide that including an executive summary could enhance your prospects. The question is, though, what should your executive summary include? Here are a few tips to help you craft the most effective RFP executive summary possible. What is an executive summary? Let’s start with what an executive summary is not. It is not a string of bullet points or a cut and paste job, however tempting. While it should be the last thing you write, it should not be a mere afterthought. Like your cover letter, the executive summary should be a positive reflection of your organization. A good executive summary is a condensed version of your proposal. It provides an overview of the proposal’s contents without repeating details verbatim. The executive summary may well be the first thing a reviewer reads but it is not an introduction. This article from pediaa.com explains the difference between an executive summary and an introduction. A good executive summary has a compelling, even pithy, lead. It should capture the reader’s attention but strike a tone appropriate for your audience. The first sentence or two should convince the reader that the summary, and what follows, is worth their while. For example, a service provider responding to an RFP might lead with something like, â€Å"Quick. Reliable. Secure. That’s our promise to you.† Then, what follows would describe how the proposed deliverables demonstrate these qualities. A good executive summary is concise, with short paragraphs. The shorter the better. One page should suffice. More than two pages is too much and risks losing the reader. Short paragraphs provide white space, allowing the reader to move quickly through the text. Consider the following examples from incontextdesign.com. Like Goldilocks, you’ll want your spacing to be ‘just right.’ A good executive summary stands on its own. Most persons reading the summary will no doubt be reviewers required to read the entire proposal. However, should anyone read only the summary, they should finish it with an understanding of all the proposal’s key elements. In sum, the executive summary deserves your time and effort, should you need, or choose, to do one. Consider writing a draft and letting it rest overnight. (You know, like you did with that long, angry email.) Fresh eyes provide a whole different perspective, highlighting points you may have overlooked and focusing your mind on what’s most important. An here’s one final tip: Consider letting someone else write a first draft. Like the proofreader who has never seen a draft can spot things the writer or editor missed, someone who has never seen your draft can provide an even fresher pair of eyes. Would someone else tease out the same key points as you? Good luck!

Israeli-Palestine conflict essays

Israeli-Palestine conflict essays It is no big secret that Israelis and Palestinians have not gotten along in the past couple of thousand years. Reports of violence and devastation come out of Israel almost every day. But what many people fail to recognize is that this seemingly regional dispute has slowly evolved into an urgent global issue. The problem is getting worse and there appears to be no end to the merciless use of violence between the Palestinians and Israelis. Every time a Palestinian suicide bomber kills an Israeli civilian, the Israeli Defense Force retaliates. Every time the Israeli Defense Force destroys a Palestinian home, another suicide bomber volunteers to blow him or herself up. This presumably endless cycle of hostility must be resolved immediately through peaceful diplomacy. There is no longer trust between the Palestinians and Israelis, and it is obvious that they are not determined to resume peace talks without a mediator. Thus the United States must comprise some type of solution to this issue otherwise the violence can, and will, spread across the globe. We can see how this conflict has escalated to this point by looking at the past. Both the Palestinians and the Israelis have very distinct and conflicting religious beliefs. Each feel entitled to the same land, but neither of them wants to share it with the other. The current hostility is concentrated in the nation of Israel, but more specifically the areas of the West Bank, Gaza Strip and Jerusalem. These areas were not part of Israel when it was formed in 1948. Israel attained the territories through many violent conflicts during the latter part of the twentieth century. Before World War II both the Palestinians and Israelis were promised the land. However, after the war, the atrocities of the Holocaust and the petitioning done by the Zionist Movement influenced the British to give the land to the Jews. This triggered Jews from around the globe to begin migrating to Is...

Japanese Internment Essay Example | Topics and Well Written Essays - 750 words

Japanese Internment - Essay Example Yet these innocent people were removed from their homes and placed in relocation centers, many for the duration of the war (Davis 1982:27). In contrast, between 1942 and 1944, 18 Caucasians were tried for spying for Japan; at least ten were convicted in court (Uyeda 1995:66). 1 When the Pearl Harbor was attacked on December 7, 1941, United States suspected that the Japanese were getting ready to launch a full-scale attack on the West Coast of the country. Massive searches were conducted to prevent communication with the Japanese ships. By January 2, "the Joint Immigration Committee of the California Legislature sent a manifesto to California newspapers summing up the historical catalogue of charges against the ethnic Japanese, who, said the manifesto, were totally inassimilable. The manifesto declared that all of Japanese descent were loyal to the Emperor, and attacked Japanese language schools as teaching Japanese racial superiority."2 It was feared that this population might commit acts of espionage or sabotage for the Japanese military. By February, "Earl Warren, at the time Attorney General of California, and U.S. Webb, a former Attorney General, were vigorously seeking to persuade the federal government to remove all ethnic Japanese from the west coas t."2 Hence began the Japanese Internment. Franklin D. Roosevelt on February 19, 1942 signed the Executive Order 9066 that allowed military commanders to designate military areas called â€Å"exclusion zones" as per their discretion. They had the right to decide who was a citizen and who was not. Eventually about 1/3 area of the country consisted of such zones, including the East and West Coasts. Some of the typical rules that were passed in these camps were: March 2, 1942: General John L. DeWitt issued Public Proclamation No. 1, informing all those of Japanese ancestry that they would, at some later point, be subject to exclusion orders from "Military Area No. 1" (the entire Pacific coast to

Module 2 (edited) Essay Example | Topics and Well Written Essays - 500 words

Module 2 (edited) - Essay Example Most of this development was achieved on the abundant natural resources that Thailand homes. What resulted in the end due to the excessive reliance on natural resources, were polluted water, infected air and barren land. Ever since the economic turmoil, consumers in Thailand have changed their spending habits to deal effectively with the ongoing economic crisis. With the exports already suffering due the global trade slump, Thai was unlucky to experience some very severe political tensions on top.With the governments initiating two new fiscal policies; situation is sighted to improve by far. A recent survey made use of several closed end questions, which makes comparison easier (Easterby-Smith et al. 2002, pp.78) - has revealed some very fitting information. People have experienced massive salary cuts and many have found themselves jobless in this situation. People have cut their spending budgets, limiting themselves to what is most needed. Most respondents to the questionnaire admitted that Thai people was growing poorer, which was seriously impacting on the lives of the Thai citizens. As the most important was that over the last decade brand loyalty has been reduced by a very great degree. Buyers have learned to compromise and make their spending more wisely since there is lesser to spend. Brand products are usually tagged at much higher prices than those unbranded, which have resulted in people switching to lower priced articles. This means international and foreign brands have seen a steep decline in their target customers, all of these due to the economic turmoil. Many international brands have adjusted their marketing strategies to appeal to target audiences, such as in the conservative Islamic countries (Karnani, 1984, pp.45). In studying the consumer expenditure pattern of Thailand, it is important to undertake a compressive analyzing of the

Business Management and Change at Billabong (BB)

Business Management and Change at Billabong (BB) HSC Topic One: Business Management and Change Case Study Billabong Management Theory Behavioural Management Theory Creative thinking and innovation are of greater importance than ruthless efficiency. Managers see their roles primarily as motivating staff communicating the companys vision to customers stakeholders. Workers overcame problems and gave input into the way Billabong was run. Primarily to do with business culture and lack of morale caused by inertia of managers their resistance to change BILLABONG Sources of Change * External influences Economic factors: Negative: level of unemployment and growth/interest rates means less people can afford BBs products Rising incomes in East Asia and South America have helped create new markets Social factors: Changing consumer tastes Increasing tastes in sports such as skateboarding and surfing BMX now included at Olympics increases recognition of sport and clothing Political factors: Protectionism and limiting of imports through tariffs has seen BBs product strengthened in the domestic market Gov emphasising and pushing Aus exports, BB has seen improved overseas sales. Geographic: Pollution of beaches discourages people from surfing Influences what products BB have to release Snow gear in countries like Switzerland and surf gear in markets like Hawaii Internal influences  · E-Commerce Positive: Simplifying logistical and organisational difficulties +: Monitoring and tracking sales à  control Internet website greater relationship/interaction with customers  · New Procedures Private à   Public Comply with legal regulations meant à  financial record systems for annual financial report Tighter control over finances so as to increase return for investors  · Business Culture Management team changed in 1998 when Matthew Perrin and Gary Pemberton bought 49% of BB Now comprised of more professional managers with greater business knowledge and procedures than the original surf enthusiasts who established the business Structural responses to change Outsourcing Production to SE Asia and China Response to economic and financial influences Allows company to focus more on design and marketing Lowers costs to maintain competitive advantage in price-sensitive markets Strategic Alliances Cooperated with Channel V Billabong Music Bus Tour Both had similar target markets Increased brand recognition and awareness Reasons for resistance to change Financial Costs Developing new products such as skateboards and sunglasses requires money Acquiring smaller businesses, eg. Honolua Surf Company cost around $20billion Inertia of owners International expansion brings some risk from the financial backers/owners and therefore saw resistance from shareholders Managing change effectively Identifying need for change BB gained an edge over competitors by being one of the first businesses to expand overseas in the early 1980s Diversifying into skateboarding and accessories increased market share Creating culture of change New management team in 1998 acted as ‘change agents achieved growth by constantly observing and pursuing new opportunities Change Models (force field analysis) Driving Forces Restraining Forces à  revenue New opportunities for staff Year round demand (seasons) Costs of production Lack of new designers Need to hire new managers for new departments Change and Social Responsibility Ecological Sustainability Surfrider Foundation Conservation and regeneration of beaches and foreshores Quality of life Encourages team work and a relaxed atmosphere both in the office and in retail stores BB has a strict ‘no child labour policy and regularly inspects overseas production facilities Cultural Diversity Encourages communication between domestic and international stores/offices Employees are encouraged to transfer between international offices to gain new experiences The Nature of Management  · Management Roles -An interpersonal role is one in which the manager deals with people. Proactive- incorporates dynamic action and forward planning to achieve particular objectives -An informational gathers information within the business and supplys it outside the business -A decision-making role involves solving problems and making choices  · Skills of Management -People Skills -Strategic thinking -Vision -Self-Managing -Teamwork Ethical behaviour Responsibilities to stakeholders include: manage change social justice ecological sustainability compliance with the law codes of practice Understanding Business Organisations with Reference to Management theories  · Contingency Theory  · Classical-Scientific Planning, Organising, Controlling Division of labour, chain of command, autocratic leadership style meaning the manager tends to make all the decisions in the business.  · Behavioural ability to understand and work with people from a variety of backgrounds and different expectations Leading, Motivation, Communication Flatter organisational structure democratic leadership style where managers consult employees to ask suggestions and take them into account when decision making.  · Political encourages the formation of coalitions to promote different points of view. Power and Influence within a business can have both a positive and negative effect. It can be sued to intimidate (negative) or empower others (positive). Legitimate power due to status or position of the person in the firm e.g management Expert power due to a result of a persons skills and expertise Referent power from a persons individual characteristics (personality and charisma) Reward Power to the rewards or compensation a manager distributes Coercive power controls individuals by the actions or words of the manager Negotiating and Bargaining, Stakeholder views, Coalitions Managing Change  · Nature and Sources of Change in Business External Changing Nature of Markets, Economic Influences, financial, geographic, social, legal, political, technological Internal Effects of decelerating technological change, e-commerce, new systems and procedures, new business cultures Structural Response to Change -Outsourcing Flat Structure Strategic alliances Networks  · Reasons for Resistance to Change Financial Costs Inertia of managers and owners Cultural incompatibility in mergers and takeovers Staffing Considerations de-skilling, acquiring new sources, loss of career prospects and opportunities. * Managing Change Effectively Identifying need for change- SWOT anaysis and balance sheets Setting Achievable goals mission statements and company goal Culture of Change Change Models Force-Field Analysis Unfreeze/Change/Refreeze Change and Social Responsibility Social Responsibility is the awareness of a businesss management of the social, environmental and human consequences of its actions. Customers eventually find out which businesses are acting responsibly and which are not. Ecological Sustainability Quality of Working life Technology E-Commerce Globalisation and Managing Cultural Diversity HSC Topic Two Financial Planning The Role of Financial Planning * Strategic role of Financial Planning strategic plan Organisational goals and objectives Managing financial resources * Objectives of Financial management Liquidity -pay debts in the short term (less that 12 months) Profitability ability to maximise profit Efficiency -manage its assets to maximise profits with the lowest possible level of assets Growth increase its size in the long term Return on capital -profit returned to owners or stakeholders as a % of their contribution * The planning Cycle Addressing present financial position e.g revenue, p l statements, budgets Determining financial elements of the business plan Developing budgets Cash Flows Financial reports Maintaining record systems Planning financial controls Financial Markets Relevant to business financial needs * Major Participants in Financial markets Banks Financial companies -provide loans to individuals and businesses e.g personal and secured Insurance companies -loans to the corporate sector through insurance premiums Merchant bks (investment bks) -services such as borrowing and lending to the business sector. Superannuation/Mutual funds provide funds to the corporate sector through the investment of funds received from superannuation contributions The Reserve bank of Australia (Government) -acts as a banker and financial agent for the federal government * The Role of the Australian Stock Exchange (ASX) as a primary Market The ASX is the major financial exchange in the country. It comprises the largest primary and secondary markets for companies and individuals wishing to create and exchanges financial assets in the economy * Influences on Financial Markets domestic markets e.g change in inflation, demands for funding, changes in government policies. Companies can be positively and negatively affected. Overseas influences such as world events, foreign exchange rates, tax regulation for foreign operations * Trends in Financial Markets Technology has allowed markets to become more competitive and grow allowing financial transactions all the time. Globalisation will also give overseas investors access to Australian companies and increase opportunities for Australian investors and international markets. Management of Funds * Sources of Funds Internal Owners Equity Retained Profits External Short-term borrowing Bank Overdraft allows a business to overdraw their account to an agreed limit Bank Bills Long Term Borrowing Mortgage Debentures -The company repays the amount of the debenture by buying back the debenture. Finance companies raise funds through debenture issues to the public. Leasing involves the payment of money for the use of equipment that is owned by another party. Factoring is the selling of accounts receivable for a discounted price to a finance of factoring company. Venture Capital is funds supplied by investors to either a new organisation or to an already established business ready to grow or diversify. Grants are provided by the government for businesses to develop and promote international competitiveness. Grants often enable an organisation to become competitive in the global environment e.g exporting organisations. * Comparison of debt to equity financing Debt finance refers to short and long term borrowing from external sources of an organisation Equity Financing refers to the internal sources of finance in the organisation Gearing/Leverage is the proportion of debt to equity which is used to finance the activities of a business Using Financial Information * The Accounting Framework Financial Statements Revenue Statements shows the revenue earned and expenses incurred over the accounting period with the resultant profit or loss. Revenue statements show operating revenue earned from the main functions of the business e.g sales of inventories and the non-operating revenue earned from operations such as rent and commission. It also shows operating expenses such as rent, advertising, insurance. Balance Sheets represent the assets and liabilities at a particular point in time expressed in money terms and calculates the net worth of the business. The balance sheet shows the level of current and non-current assets and liabilities including investments and owners equity. Balance sheets indicate whether it has enough assets to cover debt interest and money borrowed that can be paid assets used to maximise profits if owners are making a good return on their investment * The accounting Equation and Relationships (A) Assets = (L) Liabilities + (OE) Owners Equity The accounting equation forms the basis of the accounting process which shows the relationship between assets, liabilities and owners equity. The accounting equation shows that the assets of the business may be financed by either the owners or by parties external to the business. COGS = inventory + purchases closing stock * Comparative Ratio Analysis By comparing ratios of a firm over time reveals trends and indicate directions for the future. Comparisons with other businesses and industry ratios is often used although can be inaccurate due to differences in companies and industries. Businesses often compare ratios against common standards such as statistics from the ABS. * Limitations for Financial Reports Historic cost accounting states that values are stated at the cost incurred at the time of purchase or acquisition, meaning financial statements will be a mixture of different year figures. Historic cost has been used for a long time although may become inaccurate in times of inflation. Value of Intangibles licences, trademarks, brand names and goodwill. Effective Working Capital (Liquidity) Management * The Working Capital Ratio Working Capital Ratio = Current Assets over Current Liabilities (2:1 ACCEPTABLE ALTHOUGH VARIES) The Working capital ratio shows if current assets can cover current liabilities. * Control of Current Assets Cash Balances are generally kept at a minimum and hold marketable securities as reserves of liquidity. Receivables is important in terms of management of working capital. The quicker the debtors pay, the better the firms cash position. Inventories make up a significant account of current assets and their levels must be carefully monitored so that excess or insufficient levels of stock do not occur. * Control of Current Liabilities Payables must be paid by their due dates due to avoid any extra cash charges imposed for late payment and to ensure that trade credit will be extended to the business in the future. Loans management of loans is important for establishment interest rates and ongoing charges must be investigated and monitored to minimise costs. Overdrafts policies should be used to manage bank overdrafts and monitor budgets on a daily or weekly basis so that cash supplies can be controlled. * Strategies for Managing Working Capital Leasing Factoring Sale and Lease back is the selling of an owned asset to a lesser and leasing the asset back through fixed payments for a specified number of years. Effective Financial Planning * Effective Cash Flow Management The activities of a business are divided into three categories as a statement of cash flows 1. Operating Activities e.g inflow cash and credit, outflow payments to employees 2. Investing Activities -e.g selling of old motorbike, purchasing new property 3. Financing activities- e.g inflow selling of shares, outflow repayment of debt. * Management Strategies distributing payments through out a month or year or different period so that cash shortfalls do not occur payments and bad debt of accounts by debtors can cause shortfalls of cash for businesses at important times. discounts for early payments * Effective profitability Management Cost Control Fixed Costs e.g insurance and salaries Variable costs change with the level of activity within a business e.g materials and labour used in the production of a product e.g fixing a roof. Cost Centres are particular areas, departments or sections of a business to which costs can be directly attributed. Direct costs are those allocated from a particular product, activity, department or region e.g depreciation of equipment used solely in the production of one good. Indirect costs come from shared projects, activities, departments or regions. Staff should be motivated to minimise expenses where possible as savings can be substantial if people take a close look at costs and eliminate waste and unnecessary spending. * Revenue Controls Sales objectives must be at a level of sales that will cover costs (fixed and variable) and result in profit. Changes to the sales mix can affect revenue. Research should be made to identify the effects of sales mix changes before implantation. Pricing Policy affects revenue and therefore impacts on working capital. To attract buyers while underpricing may bring high sales but still result in cash shortfalls. Ethical and Legal Aspects of Financial Management * Audited Accounts An audit is an independent check of the accuracy of financial records and accounting procedures. Types of Audits- 1. Internal conducted internally by employees 2. Management used to review the firms strategic plans and determine if changes need to be made. 3. External required by corporate law to ensure it complies with Australian auditing standards. * Australian Securities and Investments Commission (ASIC) ASIC enforces and administers laws and protects consumers in the areas of investment, life, insurance, super and Australian banking. ASIC sets out to reduce fraud and unfair practices in financial markets and products. ASIC ensures that companies adhere to the law. Collects information about companies and makes it accessible to the public. * Corporate Raiders and Asset Stripping Asset Stripping describes the practice of organisations that identify and sell off for a profit, assets of a company, especially one that has been acquired in a recent takeover. Entities that take over other companies and sell off the assets are known as corporate raiders. HSC Topic 3 Marketing Case Study Types of Markets Resource BHP Billiton Industrial Painter Intermediate Gloria Jeans selling cakes Mass IBM Computers Niche ‘Mountain Bike Magazine Developing Marketing Strategies Product and Service Positioning * Qantas was under competitive pressure from Virgin Blue in the leisure market * Qantas wanted to maintain its higher positioned government and business segments * Expanded to a subsidiary Jetstar who were positioned as a value-for-money product Price including pricing methods Price Points * Jetstar International * Base price for seat, Charge $30 for meal, $7 for blanket and amenity kit and $12 for entertainment kit Promotion Advertising * Dell Computers focus much of their advertising to print media * Use inserts/pamphlets/brochures in magazines, typically in the technology liftout section of the newspaper, where their target market is most likely to be reading Place Distribution * Dell distribute products directly, with no intermediaries * Exclusive distribution (no stores), Intensive (internet) * Distribution system is e-commerce Ethical and Legal Aspects Role of Consumer Laws in dealing with Deceptive and Misleading Advertising * Gillette (Duracell) VS Eveready * TV advertisement claims Duracell lasts up to four times longer than ordinary batteries * Eveready claimed the ad infringed the TPA * Independent tests showed the Duracell batteries never last 4x longer * Federal Court ruled Duracell breached the TPA in the areas of misleading and deceptive conduct and false representations about the quality and benefits of goods The Nature and Role of Markets and Marketing Marketing is a total system of interacting activities designed to plan, price, promote and distribute products to present and potential customers. * Types of Markets Resource markets e.g mining, agriculture, forestry and machinery. Industrial Markets purchase products to use in the production of other products e.g buying flour to make bread Intermediate markets (resellers) consist of wholesalers and retailers who purchase finished products and resell them to make profit Consumer Markets e.g cars, clothing, food Mass Market is when the seller mass produces, mass distributes and mass promotes one product to all buyers Niche Markets are micro markets made for buyers who have specific needs or lifestyles * Production Production Orientation 1820s 1920s When a business concentrates on making as many possible goods at the lowest price possible Sales Approach 1020s 1060s When a business concentrates on selling techniques to attract customers Marketing Approach 1060s 1980s When a business collects information on consumer trends to sell its products * The Marketing Concept Consumer Orientation when a business concentrates on maximising customer satisfaction to sell its products Relationship Marketing the focus on encouraging repeat purchases and loyalty to the business by managing customer relations at the time of and after the initial purchase. Elements of a Marketing Plan * Establishing Market Objectives * Identifying Target Market Total Market Approach one type of product with little or no variation aimed at everyone through one distribution system. Market Segmentation approach the market is subdivided into groups of people who share certain characteristics. * Developing Marketing Strategies (examining elements of the 4 Ps) * Implementation, Monitoring and Controlling Financial Forecasting measures the sales potential and revenue forecasts (benefits) for strategies and compares these with anticipated costs. Comparing actual and planned results 1. Sales analysis comparing of actual sales with forecast sales to determine the effectiveness of the marketing strategy 2. Market share analysis/Ratios by comparing competitions market share to their own this can reveal changes in total sales (increase or decrease) 3. Marketing Cost Analysis marketer breaks down the total marketing cost into specific marketing activities to access the effectiveness of each activity. Market Research Process Market research is the process of systematically collecting, recording and analysing information concerning a specific marketing problem. The three steps of the market research process are; 1. Determining information needs 2. Collecting data from primary and secondary sources 3. Data analysis and interpretation -the data that represents average, typical or deviations from typical patterns. The data must be then displayed in way which statistics and figures can be conducted e.g spreadsheets Customer and Buyer Behaviour Customers are classified into two categories: Consumer the process of purchasing goods and services for personal household use. Organisational the purchase of goods and services by producers, resellers and government. Types of Customers Household Personal personal and household spending plays a dominant role within the economy as it contributes to the level of economic activity which affects business profits, unemployment levels, interest rates levels and rate of inflation. The Firms market consists of businesses that purchase goods and services for further processing or for use in their production process. Educational institutes Government Customers Governments spend billions of dollars each year for a wide variety of goods and services ranging from battleships to paperclips. All purchases of the government spend public funds to buy products, the government is accountable to the public, requiring a much more formalised set of buying procedures where firms submit quotes to supply a particular good or service and the lowest bid is generally accepted. * The Buying Process The buying process involves 5 common steps: Recognise the problem need or want requiring satisfaction Search for info brands, product characteristics, warranty, price etc Evaluate alternatives cost and benefit analysis Purchase Evaluate after purchase stability of product, satisfaction gained or dissatisfaction may occur. * Factors influencing Customer Choice Psychological influences e.g perception, motive, attitude and personality Socio-cultural influences e.g family, friends, social class, culture and subculture. Economic Influences -A boom is a period of low employment and rising income. Contraction is a period of slowly rising unemployment with incomes stabilising. Recession sees unemployment reach high levels and incomes fall dramatically. Expansion means unemployment levels start to fall slowly and incomes begin to rise. Government Influences government will put into place policies that expand or contract the level of economic activity. These policies directly or indirectly influence business activity and customers spending habits and such will influence the marketing plan. Developing Market Strategies * Pricing Strategies Price Skimming charging the highest price possible for innovative products Pricing Penetration charges to lowest price possible for a product or service to achieve large market share Loss-leader selling a product below its cost price to attract customers Price Lining a limited number of key prices for selected product lines e.g one line of watches for $35 and a more expensive line at $55 * Pricing Methods Cost-plus margin the total cost of production then adds on amount for profit (mark-up) Market set prices according to the level of supply and demand, when demand is high prices are high Competition based a business chooses a price based on competition, either below, equal to or above * Marketing segmentation and product Mass marketing or a total marketing approach This includes basic food items, water, gas, electricity etc. Concentrated Market Approach -By using the concentrated market approach the business is able to analyse its customer base more closely and design strategies to satisfy this select groups needs, and develop particular products based on customer feedback. Product Differentiation is the process of developing and promoting differences between the businesses products and those of its competitors. e.g jeans with designer labels and washing detergent with brightener additives * Place/Distribution Channels of Distribution or marketing channels are routes taken to get the product from the factory to the customer. The process usually involves a number of intermediaries such as wholesalers, brokers, agents or retailers. To choose the channel of distribution the location is the main contributor of the business market or market coverage (number of outlets a firm chooses for it product). There are three ways a business can cover a market Intensive distribution when a business saturates the market with their product e.g milk, lollies and newspapers Selective Distribution businesses use a moderate proportion of possible outlets where customers are prepared to travel e.g clothing, furniture Exclusive Distribution only one retail, outlet in a large geographical area for exclusive and expensive products. Physical Distribution Transport Warehousing involves receiving, storing and dispatching goods. Inventory controlled through a system that maintains quantities and varieties of products appropriate for the target market.  · Effects on Distribution 1. Technology 2. Local Government Approving new development applications and alteration to existing premises Fire regulations Determining land zoning and the purpose for which a building and land can be used Parking regulations Health regulations Size, shape and location of business signs Ethical and legal Aspects Environmentally responsible products Materialism an individuals desire to constantly acquire possessions Impact of retail development -intensely competitive environment may result in some retailers using questionable marketing practices Sugging Selling Under Guise of a survey, Role of Consumer Law Deceptive and misleading Price- Discrimination Implied Conditions or terms Merchandise quality meaning that the product is of a standard a reasonable person would expect for the price Fitness of purpose meaning that the product is suitable for the purpose for which is being sold. That is, it will perform as the instructions or advertisement implies Warranties Resale Price Maintenance Legislations to respond to ethical and legal aspects of marketing: The Trade Practice Act 1974 is one of the most important pieces of legislation in Australia and has two purposes: 1. To protect consumers from misleading and deceptive conduct 2. Restrictive trade practices to restrict competition as well as ensuring that a number of businesses are operation at any one time in the same market, to avoid the problem of monopolistic power. Fair Trade Act (FTA) is a mirrors legislation that covers sole traders and partnership as well as companies Implied conditions in both Acts: Merchantable quality worth the money Fit for purpose does its jobs. HSC Topic Four: Employment Relations Case Study Managing the ER function Line Management * ALDI Supermarkets * Individual store managers are expected to solve all instore problems there is no ‘area manager or specialist ER department Key influences on ER Social Inf Business Management and Change at Billabong (BB) Business Management and Change at Billabong (BB) HSC Topic One: Business Management and Change Case Study Billabong Management Theory Behavioural Management Theory Creative thinking and innovation are of greater importance than ruthless efficiency. Managers see their roles primarily as motivating staff communicating the companys vision to customers stakeholders. Workers overcame problems and gave input into the way Billabong was run. Primarily to do with business culture and lack of morale caused by inertia of managers their resistance to change BILLABONG Sources of Change * External influences Economic factors: Negative: level of unemployment and growth/interest rates means less people can afford BBs products Rising incomes in East Asia and South America have helped create new markets Social factors: Changing consumer tastes Increasing tastes in sports such as skateboarding and surfing BMX now included at Olympics increases recognition of sport and clothing Political factors: Protectionism and limiting of imports through tariffs has seen BBs product strengthened in the domestic market Gov emphasising and pushing Aus exports, BB has seen improved overseas sales. Geographic: Pollution of beaches discourages people from surfing Influences what products BB have to release Snow gear in countries like Switzerland and surf gear in markets like Hawaii Internal influences  · E-Commerce Positive: Simplifying logistical and organisational difficulties +: Monitoring and tracking sales à  control Internet website greater relationship/interaction with customers  · New Procedures Private à   Public Comply with legal regulations meant à  financial record systems for annual financial report Tighter control over finances so as to increase return for investors  · Business Culture Management team changed in 1998 when Matthew Perrin and Gary Pemberton bought 49% of BB Now comprised of more professional managers with greater business knowledge and procedures than the original surf enthusiasts who established the business Structural responses to change Outsourcing Production to SE Asia and China Response to economic and financial influences Allows company to focus more on design and marketing Lowers costs to maintain competitive advantage in price-sensitive markets Strategic Alliances Cooperated with Channel V Billabong Music Bus Tour Both had similar target markets Increased brand recognition and awareness Reasons for resistance to change Financial Costs Developing new products such as skateboards and sunglasses requires money Acquiring smaller businesses, eg. Honolua Surf Company cost around $20billion Inertia of owners International expansion brings some risk from the financial backers/owners and therefore saw resistance from shareholders Managing change effectively Identifying need for change BB gained an edge over competitors by being one of the first businesses to expand overseas in the early 1980s Diversifying into skateboarding and accessories increased market share Creating culture of change New management team in 1998 acted as ‘change agents achieved growth by constantly observing and pursuing new opportunities Change Models (force field analysis) Driving Forces Restraining Forces à  revenue New opportunities for staff Year round demand (seasons) Costs of production Lack of new designers Need to hire new managers for new departments Change and Social Responsibility Ecological Sustainability Surfrider Foundation Conservation and regeneration of beaches and foreshores Quality of life Encourages team work and a relaxed atmosphere both in the office and in retail stores BB has a strict ‘no child labour policy and regularly inspects overseas production facilities Cultural Diversity Encourages communication between domestic and international stores/offices Employees are encouraged to transfer between international offices to gain new experiences The Nature of Management  · Management Roles -An interpersonal role is one in which the manager deals with people. Proactive- incorporates dynamic action and forward planning to achieve particular objectives -An informational gathers information within the business and supplys it outside the business -A decision-making role involves solving problems and making choices  · Skills of Management -People Skills -Strategic thinking -Vision -Self-Managing -Teamwork Ethical behaviour Responsibilities to stakeholders include: manage change social justice ecological sustainability compliance with the law codes of practice Understanding Business Organisations with Reference to Management theories  · Contingency Theory  · Classical-Scientific Planning, Organising, Controlling Division of labour, chain of command, autocratic leadership style meaning the manager tends to make all the decisions in the business.  · Behavioural ability to understand and work with people from a variety of backgrounds and different expectations Leading, Motivation, Communication Flatter organisational structure democratic leadership style where managers consult employees to ask suggestions and take them into account when decision making.  · Political encourages the formation of coalitions to promote different points of view. Power and Influence within a business can have both a positive and negative effect. It can be sued to intimidate (negative) or empower others (positive). Legitimate power due to status or position of the person in the firm e.g management Expert power due to a result of a persons skills and expertise Referent power from a persons individual characteristics (personality and charisma) Reward Power to the rewards or compensation a manager distributes Coercive power controls individuals by the actions or words of the manager Negotiating and Bargaining, Stakeholder views, Coalitions Managing Change  · Nature and Sources of Change in Business External Changing Nature of Markets, Economic Influences, financial, geographic, social, legal, political, technological Internal Effects of decelerating technological change, e-commerce, new systems and procedures, new business cultures Structural Response to Change -Outsourcing Flat Structure Strategic alliances Networks  · Reasons for Resistance to Change Financial Costs Inertia of managers and owners Cultural incompatibility in mergers and takeovers Staffing Considerations de-skilling, acquiring new sources, loss of career prospects and opportunities. * Managing Change Effectively Identifying need for change- SWOT anaysis and balance sheets Setting Achievable goals mission statements and company goal Culture of Change Change Models Force-Field Analysis Unfreeze/Change/Refreeze Change and Social Responsibility Social Responsibility is the awareness of a businesss management of the social, environmental and human consequences of its actions. Customers eventually find out which businesses are acting responsibly and which are not. Ecological Sustainability Quality of Working life Technology E-Commerce Globalisation and Managing Cultural Diversity HSC Topic Two Financial Planning The Role of Financial Planning * Strategic role of Financial Planning strategic plan Organisational goals and objectives Managing financial resources * Objectives of Financial management Liquidity -pay debts in the short term (less that 12 months) Profitability ability to maximise profit Efficiency -manage its assets to maximise profits with the lowest possible level of assets Growth increase its size in the long term Return on capital -profit returned to owners or stakeholders as a % of their contribution * The planning Cycle Addressing present financial position e.g revenue, p l statements, budgets Determining financial elements of the business plan Developing budgets Cash Flows Financial reports Maintaining record systems Planning financial controls Financial Markets Relevant to business financial needs * Major Participants in Financial markets Banks Financial companies -provide loans to individuals and businesses e.g personal and secured Insurance companies -loans to the corporate sector through insurance premiums Merchant bks (investment bks) -services such as borrowing and lending to the business sector. Superannuation/Mutual funds provide funds to the corporate sector through the investment of funds received from superannuation contributions The Reserve bank of Australia (Government) -acts as a banker and financial agent for the federal government * The Role of the Australian Stock Exchange (ASX) as a primary Market The ASX is the major financial exchange in the country. It comprises the largest primary and secondary markets for companies and individuals wishing to create and exchanges financial assets in the economy * Influences on Financial Markets domestic markets e.g change in inflation, demands for funding, changes in government policies. Companies can be positively and negatively affected. Overseas influences such as world events, foreign exchange rates, tax regulation for foreign operations * Trends in Financial Markets Technology has allowed markets to become more competitive and grow allowing financial transactions all the time. Globalisation will also give overseas investors access to Australian companies and increase opportunities for Australian investors and international markets. Management of Funds * Sources of Funds Internal Owners Equity Retained Profits External Short-term borrowing Bank Overdraft allows a business to overdraw their account to an agreed limit Bank Bills Long Term Borrowing Mortgage Debentures -The company repays the amount of the debenture by buying back the debenture. Finance companies raise funds through debenture issues to the public. Leasing involves the payment of money for the use of equipment that is owned by another party. Factoring is the selling of accounts receivable for a discounted price to a finance of factoring company. Venture Capital is funds supplied by investors to either a new organisation or to an already established business ready to grow or diversify. Grants are provided by the government for businesses to develop and promote international competitiveness. Grants often enable an organisation to become competitive in the global environment e.g exporting organisations. * Comparison of debt to equity financing Debt finance refers to short and long term borrowing from external sources of an organisation Equity Financing refers to the internal sources of finance in the organisation Gearing/Leverage is the proportion of debt to equity which is used to finance the activities of a business Using Financial Information * The Accounting Framework Financial Statements Revenue Statements shows the revenue earned and expenses incurred over the accounting period with the resultant profit or loss. Revenue statements show operating revenue earned from the main functions of the business e.g sales of inventories and the non-operating revenue earned from operations such as rent and commission. It also shows operating expenses such as rent, advertising, insurance. Balance Sheets represent the assets and liabilities at a particular point in time expressed in money terms and calculates the net worth of the business. The balance sheet shows the level of current and non-current assets and liabilities including investments and owners equity. Balance sheets indicate whether it has enough assets to cover debt interest and money borrowed that can be paid assets used to maximise profits if owners are making a good return on their investment * The accounting Equation and Relationships (A) Assets = (L) Liabilities + (OE) Owners Equity The accounting equation forms the basis of the accounting process which shows the relationship between assets, liabilities and owners equity. The accounting equation shows that the assets of the business may be financed by either the owners or by parties external to the business. COGS = inventory + purchases closing stock * Comparative Ratio Analysis By comparing ratios of a firm over time reveals trends and indicate directions for the future. Comparisons with other businesses and industry ratios is often used although can be inaccurate due to differences in companies and industries. Businesses often compare ratios against common standards such as statistics from the ABS. * Limitations for Financial Reports Historic cost accounting states that values are stated at the cost incurred at the time of purchase or acquisition, meaning financial statements will be a mixture of different year figures. Historic cost has been used for a long time although may become inaccurate in times of inflation. Value of Intangibles licences, trademarks, brand names and goodwill. Effective Working Capital (Liquidity) Management * The Working Capital Ratio Working Capital Ratio = Current Assets over Current Liabilities (2:1 ACCEPTABLE ALTHOUGH VARIES) The Working capital ratio shows if current assets can cover current liabilities. * Control of Current Assets Cash Balances are generally kept at a minimum and hold marketable securities as reserves of liquidity. Receivables is important in terms of management of working capital. The quicker the debtors pay, the better the firms cash position. Inventories make up a significant account of current assets and their levels must be carefully monitored so that excess or insufficient levels of stock do not occur. * Control of Current Liabilities Payables must be paid by their due dates due to avoid any extra cash charges imposed for late payment and to ensure that trade credit will be extended to the business in the future. Loans management of loans is important for establishment interest rates and ongoing charges must be investigated and monitored to minimise costs. Overdrafts policies should be used to manage bank overdrafts and monitor budgets on a daily or weekly basis so that cash supplies can be controlled. * Strategies for Managing Working Capital Leasing Factoring Sale and Lease back is the selling of an owned asset to a lesser and leasing the asset back through fixed payments for a specified number of years. Effective Financial Planning * Effective Cash Flow Management The activities of a business are divided into three categories as a statement of cash flows 1. Operating Activities e.g inflow cash and credit, outflow payments to employees 2. Investing Activities -e.g selling of old motorbike, purchasing new property 3. Financing activities- e.g inflow selling of shares, outflow repayment of debt. * Management Strategies distributing payments through out a month or year or different period so that cash shortfalls do not occur payments and bad debt of accounts by debtors can cause shortfalls of cash for businesses at important times. discounts for early payments * Effective profitability Management Cost Control Fixed Costs e.g insurance and salaries Variable costs change with the level of activity within a business e.g materials and labour used in the production of a product e.g fixing a roof. Cost Centres are particular areas, departments or sections of a business to which costs can be directly attributed. Direct costs are those allocated from a particular product, activity, department or region e.g depreciation of equipment used solely in the production of one good. Indirect costs come from shared projects, activities, departments or regions. Staff should be motivated to minimise expenses where possible as savings can be substantial if people take a close look at costs and eliminate waste and unnecessary spending. * Revenue Controls Sales objectives must be at a level of sales that will cover costs (fixed and variable) and result in profit. Changes to the sales mix can affect revenue. Research should be made to identify the effects of sales mix changes before implantation. Pricing Policy affects revenue and therefore impacts on working capital. To attract buyers while underpricing may bring high sales but still result in cash shortfalls. Ethical and Legal Aspects of Financial Management * Audited Accounts An audit is an independent check of the accuracy of financial records and accounting procedures. Types of Audits- 1. Internal conducted internally by employees 2. Management used to review the firms strategic plans and determine if changes need to be made. 3. External required by corporate law to ensure it complies with Australian auditing standards. * Australian Securities and Investments Commission (ASIC) ASIC enforces and administers laws and protects consumers in the areas of investment, life, insurance, super and Australian banking. ASIC sets out to reduce fraud and unfair practices in financial markets and products. ASIC ensures that companies adhere to the law. Collects information about companies and makes it accessible to the public. * Corporate Raiders and Asset Stripping Asset Stripping describes the practice of organisations that identify and sell off for a profit, assets of a company, especially one that has been acquired in a recent takeover. Entities that take over other companies and sell off the assets are known as corporate raiders. HSC Topic 3 Marketing Case Study Types of Markets Resource BHP Billiton Industrial Painter Intermediate Gloria Jeans selling cakes Mass IBM Computers Niche ‘Mountain Bike Magazine Developing Marketing Strategies Product and Service Positioning * Qantas was under competitive pressure from Virgin Blue in the leisure market * Qantas wanted to maintain its higher positioned government and business segments * Expanded to a subsidiary Jetstar who were positioned as a value-for-money product Price including pricing methods Price Points * Jetstar International * Base price for seat, Charge $30 for meal, $7 for blanket and amenity kit and $12 for entertainment kit Promotion Advertising * Dell Computers focus much of their advertising to print media * Use inserts/pamphlets/brochures in magazines, typically in the technology liftout section of the newspaper, where their target market is most likely to be reading Place Distribution * Dell distribute products directly, with no intermediaries * Exclusive distribution (no stores), Intensive (internet) * Distribution system is e-commerce Ethical and Legal Aspects Role of Consumer Laws in dealing with Deceptive and Misleading Advertising * Gillette (Duracell) VS Eveready * TV advertisement claims Duracell lasts up to four times longer than ordinary batteries * Eveready claimed the ad infringed the TPA * Independent tests showed the Duracell batteries never last 4x longer * Federal Court ruled Duracell breached the TPA in the areas of misleading and deceptive conduct and false representations about the quality and benefits of goods The Nature and Role of Markets and Marketing Marketing is a total system of interacting activities designed to plan, price, promote and distribute products to present and potential customers. * Types of Markets Resource markets e.g mining, agriculture, forestry and machinery. Industrial Markets purchase products to use in the production of other products e.g buying flour to make bread Intermediate markets (resellers) consist of wholesalers and retailers who purchase finished products and resell them to make profit Consumer Markets e.g cars, clothing, food Mass Market is when the seller mass produces, mass distributes and mass promotes one product to all buyers Niche Markets are micro markets made for buyers who have specific needs or lifestyles * Production Production Orientation 1820s 1920s When a business concentrates on making as many possible goods at the lowest price possible Sales Approach 1020s 1060s When a business concentrates on selling techniques to attract customers Marketing Approach 1060s 1980s When a business collects information on consumer trends to sell its products * The Marketing Concept Consumer Orientation when a business concentrates on maximising customer satisfaction to sell its products Relationship Marketing the focus on encouraging repeat purchases and loyalty to the business by managing customer relations at the time of and after the initial purchase. Elements of a Marketing Plan * Establishing Market Objectives * Identifying Target Market Total Market Approach one type of product with little or no variation aimed at everyone through one distribution system. Market Segmentation approach the market is subdivided into groups of people who share certain characteristics. * Developing Marketing Strategies (examining elements of the 4 Ps) * Implementation, Monitoring and Controlling Financial Forecasting measures the sales potential and revenue forecasts (benefits) for strategies and compares these with anticipated costs. Comparing actual and planned results 1. Sales analysis comparing of actual sales with forecast sales to determine the effectiveness of the marketing strategy 2. Market share analysis/Ratios by comparing competitions market share to their own this can reveal changes in total sales (increase or decrease) 3. Marketing Cost Analysis marketer breaks down the total marketing cost into specific marketing activities to access the effectiveness of each activity. Market Research Process Market research is the process of systematically collecting, recording and analysing information concerning a specific marketing problem. The three steps of the market research process are; 1. Determining information needs 2. Collecting data from primary and secondary sources 3. Data analysis and interpretation -the data that represents average, typical or deviations from typical patterns. The data must be then displayed in way which statistics and figures can be conducted e.g spreadsheets Customer and Buyer Behaviour Customers are classified into two categories: Consumer the process of purchasing goods and services for personal household use. Organisational the purchase of goods and services by producers, resellers and government. Types of Customers Household Personal personal and household spending plays a dominant role within the economy as it contributes to the level of economic activity which affects business profits, unemployment levels, interest rates levels and rate of inflation. The Firms market consists of businesses that purchase goods and services for further processing or for use in their production process. Educational institutes Government Customers Governments spend billions of dollars each year for a wide variety of goods and services ranging from battleships to paperclips. All purchases of the government spend public funds to buy products, the government is accountable to the public, requiring a much more formalised set of buying procedures where firms submit quotes to supply a particular good or service and the lowest bid is generally accepted. * The Buying Process The buying process involves 5 common steps: Recognise the problem need or want requiring satisfaction Search for info brands, product characteristics, warranty, price etc Evaluate alternatives cost and benefit analysis Purchase Evaluate after purchase stability of product, satisfaction gained or dissatisfaction may occur. * Factors influencing Customer Choice Psychological influences e.g perception, motive, attitude and personality Socio-cultural influences e.g family, friends, social class, culture and subculture. Economic Influences -A boom is a period of low employment and rising income. Contraction is a period of slowly rising unemployment with incomes stabilising. Recession sees unemployment reach high levels and incomes fall dramatically. Expansion means unemployment levels start to fall slowly and incomes begin to rise. Government Influences government will put into place policies that expand or contract the level of economic activity. These policies directly or indirectly influence business activity and customers spending habits and such will influence the marketing plan. Developing Market Strategies * Pricing Strategies Price Skimming charging the highest price possible for innovative products Pricing Penetration charges to lowest price possible for a product or service to achieve large market share Loss-leader selling a product below its cost price to attract customers Price Lining a limited number of key prices for selected product lines e.g one line of watches for $35 and a more expensive line at $55 * Pricing Methods Cost-plus margin the total cost of production then adds on amount for profit (mark-up) Market set prices according to the level of supply and demand, when demand is high prices are high Competition based a business chooses a price based on competition, either below, equal to or above * Marketing segmentation and product Mass marketing or a total marketing approach This includes basic food items, water, gas, electricity etc. Concentrated Market Approach -By using the concentrated market approach the business is able to analyse its customer base more closely and design strategies to satisfy this select groups needs, and develop particular products based on customer feedback. Product Differentiation is the process of developing and promoting differences between the businesses products and those of its competitors. e.g jeans with designer labels and washing detergent with brightener additives * Place/Distribution Channels of Distribution or marketing channels are routes taken to get the product from the factory to the customer. The process usually involves a number of intermediaries such as wholesalers, brokers, agents or retailers. To choose the channel of distribution the location is the main contributor of the business market or market coverage (number of outlets a firm chooses for it product). There are three ways a business can cover a market Intensive distribution when a business saturates the market with their product e.g milk, lollies and newspapers Selective Distribution businesses use a moderate proportion of possible outlets where customers are prepared to travel e.g clothing, furniture Exclusive Distribution only one retail, outlet in a large geographical area for exclusive and expensive products. Physical Distribution Transport Warehousing involves receiving, storing and dispatching goods. Inventory controlled through a system that maintains quantities and varieties of products appropriate for the target market.  · Effects on Distribution 1. Technology 2. Local Government Approving new development applications and alteration to existing premises Fire regulations Determining land zoning and the purpose for which a building and land can be used Parking regulations Health regulations Size, shape and location of business signs Ethical and legal Aspects Environmentally responsible products Materialism an individuals desire to constantly acquire possessions Impact of retail development -intensely competitive environment may result in some retailers using questionable marketing practices Sugging Selling Under Guise of a survey, Role of Consumer Law Deceptive and misleading Price- Discrimination Implied Conditions or terms Merchandise quality meaning that the product is of a standard a reasonable person would expect for the price Fitness of purpose meaning that the product is suitable for the purpose for which is being sold. That is, it will perform as the instructions or advertisement implies Warranties Resale Price Maintenance Legislations to respond to ethical and legal aspects of marketing: The Trade Practice Act 1974 is one of the most important pieces of legislation in Australia and has two purposes: 1. To protect consumers from misleading and deceptive conduct 2. Restrictive trade practices to restrict competition as well as ensuring that a number of businesses are operation at any one time in the same market, to avoid the problem of monopolistic power. Fair Trade Act (FTA) is a mirrors legislation that covers sole traders and partnership as well as companies Implied conditions in both Acts: Merchantable quality worth the money Fit for purpose does its jobs. HSC Topic Four: Employment Relations Case Study Managing the ER function Line Management * ALDI Supermarkets * Individual store managers are expected to solve all instore problems there is no ‘area manager or specialist ER department Key influences on ER Social Inf