Literature review on performance management Essay

Literature review on performance management - Essay Example t part summarizes the performance management process, the second part discusses the reasons for failure of performance management systems and the last part relates these reasons for failure to my organization. Here the organization must clarify the mission, goals, priorities and expectations to be achieved. Effective goals and objectives should be; clearly define end results to be accomplished, should have a direct link to organization success factors, set in not more than three areas as attempting to achieve too many different goals at once impede success and should be difficult but achievable so as to motivate performance (Pulakos, 2004). Performance management planning is a tool of communication for ensuring mutual understanding of work responsibilities, priorities and performance expectations (Indiana University, 2005). The planner must review with the employees, both the expected results and the expected outputs during the performance management cycle. These behavioral and results expectation must be tied to the organization’s strategic goals and objectives (Pulakos, 2004). After the managers have set objectives and standards and communicated to all the employees. Their next role is observing how the employees put the set guidelines into practice and providing feedback. The managers should reinforce strong performance by an employee, identify, and encourage improvement where it is needed. Coaching is one method that the managers can use in improving employees’ productivity. University of California (n.d) explains, â€Å"Coaching sessions provide you and the employee the opportunity to discuss progress towards meeting mutually-established standards and goals† (para 4). According to the University, coaching is important because; it strengthens communication between the manager and the employee, it helps the employees to attain performance objectives, it improves employee motivation and commitment, it maintains and increases the employees’ self-esteem

The Best Alaskan Salmon in Ohio Essay Example for Free

The Best Alaskan Salmon in Ohio Essay If I said it was possible to have fresh, never frozen, Alaskan salmon delivered anywhere in the United States within two days of the fish being caught, people might call me crazy. I know I would but that is exactly what I found being advertised when I began searching for online retailers of Alaskan salmon. I have been enjoying salmon for a long time and living in central Ohio has forced me to try many avenues for the best salmon I could find. My choices were often limited to whatever stock of salmon was available at local retail locations that were often previously frozen. What I needed was a service that offered me a wide variety of wild, fresh salmon and Great-Alaska-Seafood exceeded my expectations with the best tasting salmon I have ever had. The first thing I look for when I buy salmon is quality and to me that means wild-caught, not farm raised salmon. The problem here is the vast majority of salmon sold in stores is sold as being â€Å"wild† from the Atlantic Ocean but this is not completely true. The trick here is fisheries are allowed to market their salmon as â€Å"wild† as long as the fish is allowed to swim in the Atlantic Ocean. However, they are still being fed processed food pellets. The main difference between wild and farm raised is their diet, which affects the overall quality of the fish. There are even health considerations that should be taken if farm raised fish is frequently consumed. Wild salmon from Alaska are considered by many as the best source of quality salmon available. Since this fishery was based out of Alaska I had some confidence I would be paying for the best salmon out there and they delivered on their promise. The freshness of the fish was also a big concern when I began to entertain the idea of making an order for salmon online. Locally I am often left to pick from Alaskan salmon filets that were previously frozen for transportation to Ohio, on the other hand, the first thing I noticed was this company offered free overnight shipping with a minimum purchase that was in my price range. This almost seemed too good to be true. Amongst many other online retailers I could not find a single competitor offering this service. With their service offering free overnight shipping with special packaging that involves dry-ice, I was able to purchase a fresh, never frozen, salmon. When I received my first order I was almost stunned that I could have an Alaskan salmon, just caught a day or two before, delivered to my door. This exceeded my expectations largely because I would have never thought it was possible. As much as I love salmon, everything must be taken in moderation. Eating the exact same type of salmon every week might get boring fast. So, I also needed a good amount of variety available to purchase amongst the different salmon species native to Alaska. The main types between salmon are â€Å"white† and â€Å"red† flesh and they taste distinctly different. When parlayed with the different locations and diets of the Alaskan salmon species, this allows for a lot of different ways to prepare and cook the fish. This is very important to me and I was very happy to see this company offered 8 different species of salmon. To add even more variety the company offers over 10 different smoking methods that add incredible flavor to the fish. All of which I have tried and taste phenomenal, including a variety of other seafood items they sell ranging from colossal crab legs to prawns that weigh one pound each. When I began my search for a new source of salmon I figured I would not have much luck living in Ohio. What I found was a company offering one of the best online services I have ever seen. The free overnight shipping plus the large variety of fresh salmon was exactly what I was looking for. I did a vast amount of research on multiple retailers that sell salmon and other seafood online and what I found is, for us salmon lovers far from the ocean, this is best option available.

The link between capital market and economic growth in Rwanda

The link between capital market and economic growth in Rwanda 1.1 Background Today most economies around the world are judged by the performance of their capital markets. The potential role of financial markets in economic growth has been well documented. Most African countries including those in Sub-Saharan Africa (SSA) have recently under gone financial sector reforms such as restructuring and privatizing of state owned banks and establishment of capital markets. In the literature there are different views on the link between capital markets and economic growth of a nation. North (1996) shows that, differences in economic institutions are the major sources of cross-country differences in economic growth and prosperity. High quality institutions have a positive influence on the depth and development of the financial sector of nations. This proposed research will mainly consult with the literature about the link between capital market and economic growth and the role that institutions play in capital markets and try to pinpoint and relate these to the Rwandan context. In developed capital markets households are the major participants as investors. Saunders and Cornett (2004) claimed that in the United States, households are the single largest holders of corporate stock. However, the capital markets of least developed countries are very shallow in terms of capitalization because of a limited number of listed companies and limited participation of households (savers) either due to lack of capacity or lack of awareness as to the capital markets. Therefore this study will also examine the impact of the households (savers) in the capital markets in least developed countries in Africa including Rwanda. 1.2 Statement of the Problem Despite a surge of global investor interest in the 1980s and 1990s, Africa has been bypassed by the massive international capital flowing to developing economies. Aggregate capital flows to developing countries have been rapidly exceeding official development assistance flows since 1980s. However, Africa remains the only developing region in which development assistance flows exceeds private capital flows (Senbet and Otchere, 2006). This was mainly attributed to the lack or absence of a well developed financial sector (capital markets, banks, finance companies, life insurance companies, and insurance companies) and the poor economic policies and institutions in African countries. Capital markets are a vital part of an economy making it possible for industry, trade and commerce to flourish without any obstacle in terms of resources. The financial markets serve a vital purpose in the growth and development of a company that wants to expand. For such companies with expansion plans and new projects in need of funding and investors looking for a better return, the financial market is the best platform. The private sector usually lacks access to credit facilities. Investment, growth and economic welfare are all too low in developing countries. This is more severe in Africa, particularly in Sub-Saharan Africa (Platt, 1998). Most African countries, particularly those in Sub-Saharan Africa, have recently undergone extensive financial sector reforms. The reform package includes restructuring and privatization of state owned banks, the introduction of private banking systems, along with bank supervisory and regulatory schemes, the introduction of a variety of measures to promote the development of financail markets; including money and stock markets (Senbet and Otchere, 2006). Rwandas economy primarily depends on agricultural productivity. The industry and service sectors are not entirely developed to push the economy towards higher growth. Rwandas long-term development plan, as articulated in Vision 2020, seeks to transform Rwanda into a middle-income country and an economic trade and communications hub by the year 2020. An effectively functioning financial sector is a fundamentally important and essential element for achieving this objective.   Rwanda seeks to develop a financial sector that is effective, in particular, by  expanding access to credit and financial services; enhancing savings mobilization, especially long term savings; and mobilizing long-term capital for investment. A key strategic goal of the Vision 2020 plan is to make Rwanda an economic trade and communications hub in the heart of Africa.   This will require significant investment in infrastructure in the form of roads, power, rail, airports and telecommunications.   These plans also call for the active participation and expansion of the private sector in Rwandas economy which will require long term investment in infrastructure and industry, which can only be provided through the mobilization of domestic savings through capital markets.   The Rwanda capital market now referred to as the Rwanda Over the Counter (OTC) market was established by the Capital Market Advisory Council in January 2008. It is from this perspective the researcher is undertaking this study to see the link between capital market and economic growth in Rwanda. How does Rwanda stand to benefit from this capital market? 1.3 Purpose of the study The main purpose of this thesis is to investigate and review the literature on the link between capital market and the economic growth and prosperity of a nation, particularly in Rwanda. This study will also examine the importance of institutions for the performance of capital markets and households (savers) contribution to the capital market so that companies can raise the required capital easily in a country where financing is limited to the banking sector and yet accessible only to a few big private companies and state owned enterprises. 1.4 Objectives of the study The objectives of this proposed study are mainly to find out: Whether capital market is an alternative towards the economic growth of least developed countries such as Ethiopia. The role of institutions toward the development of capital market. Whether households savings will make a real impact on the overall performance, liquidity, and market capitalization of the capital market in Rwanda. 1.5 Research questions This thesis is intended to answer the following questions: Is a capital market an alternative towards the economic growth of least developed countries in general and for Rwanda in particular? Will institutions be vital for the performance of capital market in Rwanda? Will domestic savings in Rwanda have a role to play in the capital market? 1.6 Scope of the study This study presents the different views as to the link between capital markets and economic growth, and the role that institutions play in the performance of capital markets. The focus being the capital market in Rwanda; it also investigates the impact of households savings on capital market in Rwanda. 1.7 Significance of the study The researcher intends to collect data in order to analyse the link between capital market and economic growth in Rwanda. This study will examine the role of institutions toward the development of capital market as well as the impact of the households (savers) in the capital market in Rwanda. Additionally, this research is to fulfill the requirement of the Masters degree in Business Administration. 1.8 Definitions of terms Financial sector: The Reserve Bank of Australia (www.rba.gov.au/Glossary/text_only.asp), defines financial sector as the sector of the economy that comprises financial institutions and financial markets. Financial institution: A company whose primary function is to intermediate between lenders and borrowers in the economy. (www.rba.gov.au/Glossary/text_only.asp). Institutions: in this proposed study institutions could be defined as follows: Definition 1 (Businessdictionary.com) Establishment, foundation, or organization created to pursue a particular type of endeavor, such as banking by a financial institution. Definition 2 (Businessdictionary.com) Consistent and organized pattern of behavior or activities (established by law or custom) that is self-regulating in accordance with generally accepted norms. For example, political institutions are involved with (and regulate) competition for power; and economic institutions (such as markets) encourage and regulate production and distribution of goods and services. Least Developed Countries (LCDs): In its latest triennial review of the list of Least Developed Countries in 2003, the Economic and Social Council of the United Nations used the following three criteria for the identification of the LDCs, as proposed by the Committee for Development Policy (CDP): a low-income criterion, based on a three-year average estimate of the gross national income (GNI) per capita (under $750 for inclusion, above $900 for graduation); a human resource weakness criterion, involving a composite Human Assets Index (HAI) based on indicators of: (a) nutrition; (b) health; (c) education; and (d) adult literacy; and an economic vulnerability criterion, involving a composite Economic Vulnerability Index (EVI) based on indicators of: (a) the instability of agricultural production; (b) the instability of exports of goods and services; (c) the economic importance of non-traditional activities (share of manufacturing and modern services in GDP); (d) merchandise export concentration; and (e) the handicap of economic smallness (as measured through the population in logarithm); and the percentage of population displaced by natural disasters. REFERENCES LIST Demirguc-Kunt, A., Maksimovic, V. (1996). Stock Market Development and Corporate Finance Decisions. Finance Development, 33(2), 47-50. North, D. C., Weingast, B. R. (1996). Constitutions and Commitment: The Evolution of Institutions Governing Public Choice in Seventeenth-Century England. In L. J. Alston, T. Eggertosson D. C. North (Eds.), Empirical Studies in Institutional Change: Cambridge University Press. Nyong, Michael O. (1997): Capital Market Development and Long-run Economic Growth: Theory, Evidence and Analysis First Bank Review, December 1997: 13-38. Samuel, Cherian (1996): Stock Market and Investment: The Governance Role of the Market The World Bank Review Volume 10 Number 2. Saunders, A., Cornett, M. M. (2004). Financial Markets and Institutions (2 ed.). New York: Mc Graw-Hill/ Irwin. Senbet, L. W., Otchere, I. (2006). Financial Sector Reforms in Africa: Perspectives on issues and policies. In B. Francois B. Pleskovic (Eds.), Annual World Bank Conference on Development Economics: Growth and Integration (Senegal Proceedings). Washington, D.C.: The World Bank. www.rba.gov.au/Glossary/text_only.asp Rwanda financial sector development program (2007). Retrieved January 12, 2011, from www.bnr.rw/ www.cmac.co.rw Businessdictionary.com http://www.un.org/special-rep/ohrlls/ldc/list.htm

The Passion of Joan of Arc by Carl Dreyer 1928 :: Essays Papers

The Passion of Joan of Arc by Carl Dreyer 1928 God, how dull. Way too many minutes of attempted silence are the ear plug door prize of this fine art gallery. At least Andrei Rublev has quiet singing and what often seem randomly included sounds. Instead, the viewer is guided by a docent of grasping faces, with their dramatic fingers outstretched, into a little love affair with decency on the screen. The Passion of Joan of Arc (Carl Dreyer 1928) is full of faces hard at work with substitute verbs for â€Å"say†. Jean the face, almost always in the majority of the screen when pictured, proclaims, prophesizes and replies while changing angle (mostly falling flatter in a turn to the left) and how incredibly wide open her eyes are. Monk face after monk face, occasionally with a body, plots (using â€Å"craft†) against and barks at the conniving witch Jean. These man faces are remarkable for their aged hardened brutal ugliness, whereas Jean is hip before its cool in her mastery of an androgynous yet medieval look. She’s the only man here worth your time. But where is her body! She bleeds, cries, burns, and even drools on her own hand after her hair is cut. That is it, her body is present in its pouring out. Once the man monk face spits on Jean, if we read the film with shots and reverse shots stitched together for theatrical effect, albeit obnoxiously from perspectives onstage. But it is still her face, her characterization, that is instilled with the touch of saliva. Her motor fluids run backwards, she gives out and off. No person takes in anything but words and wounds. Pool of water, the lone mirror shot, takes in man who says â€Å"long live Jeanne!†. But it is alone. Alone with God. For arm is cut. Silhouette is burned. Imagined self (and imagination at the same time) tortured with the spinning reel of a spiked pain machine. Peasants and soldiers hit with morning stars, spears, and parts of the body, perhaps. But then all that unfolds after Jean is unclear. O nce her life hangs clearly in the balance, the old rules no longer apply. The camera has found a new perch. Bat-like, suspended by the gate, swinging upside down.

Personal Goals

Leadership is a highly esteemed characteristic that attaches maximum political, business and social value with it. Every group, irrespective of its size and influence, is always in search for a leader whom it can trust to steer ahead through all the possible challenges and difficulties. Therefore leadership is an individual attribute   that allows one person   to motivate and carry many others towards common dreams and goals. Leadership, by its very definition, commands implicit faith, and confidence in the actions, decisions and philosophy of the leader. Here it is vital to understand that leadership is a dynamic and integral quality of a person and leaders emerge from ordinary groups; they are not made, elected or appointed. Arguably, there are no definite copy-book rules to construct a leader. The difficulties, complexities, and challenges associated with a situation give impetus to leadership qualities in otherwise ordinary people who believe in themselves that they are capable of rising up to the difficulties as well as helping others out of it. Therefore although it might be difficult to ‘teach’ a person quality of good leader, yet one can expect to inculcate leadership qualities by observing styles and principles of successful leaders. It is said that a leader is a dealer in hope. Leadership is then about inspiration, motivation, encouragement and direction that pulls people to accomplishments that they would not had managed if left alone. However, effective leadership is a very challenging domain as it requires some impeccable personal and organizational traits that can be developed and realized through considerable experience, knowledge and self- discipline. There are no fixed guidelines, set of rules and laws that exactly prescribe the traits, qualities and attributes of a successful leader. Quite often the leadership is situational and the leader is required to act purely through intuition and circumstantial requirements. However there are certain essential skills and characteristics that are rather mandatory for effective leadership are 1 Trustworthiness: Trustworthiness is about integrity in action. Effective leadership is about achieving coordination in words and actions and following the age old principles of truth, honesty and personal integrity. 2. Fairness: Leaders can’t afford to be biased or prejudiced or it would jeopardize the confidence of the followers in their secular character. 3. Communication and listening skill. Leadership requires excellent communication and listening skill through which the leaders can articulate their views unambiguously and also hear the views of others to give them sense of participation and involvement. 4. Initiative: Leadership is about taking initiative and orienting other people towards it. Taking initiative pulls the organization rapidly ahead. 5. Good judgment: Leaders must have the ability to process all information in the backdrop of their knowledge to make correct decisions 6. Motivational capacity: Leadership is ineffective if it cant motivate people to the dream and vision of the leader. It is the most desirous quality of a leader and one that is hallmark of leadership. A good leader should be honest, loyal and committed to the goals of the organization he intends to lead. A good leader should not have a desire for wrongful gains or hidden agendas. This is why perhaps people emphasize on transparency in all dealings of any organization. Some leaders have a self plan and pursue them rather than acting in the interests of the organization. Committed to the cause of the organization or group and being live to the sacrifices and pains of your colleagues is a basic quality of a good leader. National leaders and particularly the freedom fighters of several nations had steadfast qualities and determination in them, which helped them carry on and ultimately succeed. A good leader is perhaps a good follower. There is never a stage in which you have mastered everything and this applies even to leadership. Each day you learn more and more, perhaps the rights and wrongs of your own acts too. I have always been a wilful learner and strongly believe I should always keep learning if I am to lead.   I have always respected people with values and accountability. A leader is accountable for his actions and should voluntarily open up to any questions or suspicions in his dealings. Similarly a good leader should also emphasize such qualities among his followers and make them accountable too. Simplicity is a mark of identity for any leader and projecting himself as a role model. A leader’s thoughts, actions and words should be a reflection of him, inspiring all who follow. A leader indeed should have uncommon qualities to successfully lead his organization. One of the main challenges of a leader is his ability to manage change. Change is a permanent reality across time. The world is changing at an unprecedented pace, as never before witnessed. Change in an organization, group or any set up involves altering its structure, processes, the behaviour of its management and staff, its strategy, environment etc. The structure of an organization is one of the most common targets of change. This includes the manner in which it is held together, the various configurations of people and the relationship between them, communication channels, job roles and skills. The relationships within an organization are extremely important as it contributes to the internal shape and coherence. Some processes which are altered as a result of change implementation are communication processes, management processes and learning process. Periodic reviews of its goals and progress are vital for any organization or team to stay aligned with its objectives and expectations. I understand the need and consequences of change, which an organization undertakes according to the demands placed on it. Ongoing communication can motivate managers and employees and help them to overcome resistance to an initiative, keep them prepared for the ups and downs of change. Organizations are managed by several forms of leadership based on the exertion of authority within the organization. Two main, but interconnected types of leadership in organizations are the transformational leadership and the transactional leadership, both having strong philosophical and ethical foundations. Transformational leadership gives followers the opportunity to assess the leader’s view, to seek explanations and provide solutions, while transactional leadership is more based on imposition, where followers are driven by the praise, promise or reward of the leader. In the transactional leadership, the followers are confronted by reproof, threats and disciplinary actions. Transformational leadership has become more popular in the last three decades primarily due to the changing global economy. Transformational leadership promotes equality, justice and human rights through loyalty and fairness. Recent findings suggest that team performance and communication are improved under transformational leadership. Authentic transformational leaders are sometimes transactional too. The leader may present his opinion, plans and exhort agreement on them, which however may be in the mutual interest of all involved. I consider myself as a typical transformational leader open to criticism and discussion, unafraid of my decisions being questioned. After all only collective thinking and cooperation can bring results. People generally do whatever they want to do or, are motivated to do. Motivation is another vital component associated with productivity in workplaces. Suitable theories and principles of employee motivation are applied with basic logic to address the psyche of employees who are to be motivated. Motivation can also be described as a crucial skill for any business to succeed. It involves inducing individuals from his actual and deviant state to a required desired state in a specific way. Each motivational system must be specifically designed according to the organization and prevailing circumstances. Recognizing and understanding the motivational factors for each employee or follower is very important. It would be surprising to know that things like job security, money etc. cannot help in motivating people. However fear, like yelling from boss, do serve as a short-term motivator. Employees, colleagues and supporters all need to be motivated to perform to the levels expected of them. As a thoughtful leader, I can easily motivate my employees by setting an example and not forcing them to follow me. Recruitment is a very important function of human resources and recruitment strategies are vital in attracting talented and smart prospective candidates. Selection of best candidates who fit with the work culture of the organization is very important. The recruitment also has a direct bearing on the retention factor in an organization, apart from work efficiency and quality. Be it an organization, a political party or any association; it is very essential that only the right people with the right mindset occupy responsible positions. My association with people helps me to identify such people with the right mentality and the ones who should be kept away. As a leader I try to ensure that the goals and ideals of my employee are not shouldered by wrong persons. Conflict and dissatisfaction with superiors like other leaders and officers is another common cause for resignations. When managers or team leaders fail to provide the required leadership by bullying their subordinates or treating people unfairly, it gives rise to employee discontent. Such situations emphasize on the qualities of the manager and the team leader. Only those with well-developed leadership qualities must be selected as second level leaders. They should be trained in leadership skills, methods of resolving conflict and also on dealing with grievances. Poor selection or promotion decisions too can result in rapid turnover. The selection and promotion processes must be on par with the capabilities of the individuals, with regard to the work they do. As a leader, I know that I keep a close watch on the attrition rate of my organization to seek answers as to what makes people unhappy within my business. I have also implemented exit interviews to identify grievances and offer redress. Leadership is not a characteristic that exists in isolation. As it is defined, leadership implies establishing coordination, orientation, cooperation, and collaboration among the followers to accomplish designated objectives and goals. It is   possible when leaders can inspire their followers with respect, admiration, discipline, confidence in the abilities of the leader while being helped to envision themselves as empowered individuals. A good leader has the ability to take over even most complex, demanding and otherwise impossible condition by exhibiting personal integrity, ethical and moral traits and values that other can relate to and aspire to imbibe in their own conduct (Laurie, 2000, 53). Here it is important to distinguish personal charisma from leadership, as personal charisma, being an person specific phenomena, can awe people but hardly give them impetus to follow in the footsteps of the leader. Leadership is also means natural acquisition of power and potential to change its equation affect over the leaders and their followers. There inherent dangers associated with power, and for most of the people, the timeless adage-‘power corrupts’ suits justly. Power contains a temptation that is hard to resist and has potential to become the ultimate goal for a person rather the tool that was designated in helping to achieve the goals.   But a genuine leader understands this irony of power and therefore believes that power should be shared with others so that it can grow. The real power of leaders is their ability to inspire others with a sense of power and confidence

Australian quoted public companies and impairment Essays

Australian quoted public companies and impairment Essays Australian quoted public companies and impairment Essay Australian quoted public companies and impairment Essay This paper looks at houses revelation of intangible assets in the Australian market after the passage of the AASB 136 and AASB 138 in 2005. The focal point is on higher user houses and how they lost value of their assets between 2007 and 2008. The paper samples a few houses in order to analyse the revelation of good will of distinguishable categories of intangible assets and their inexplicit effectual life by analyzing the impairment disbursal as reflected in the income statement ( Nigel 2006, p.1 ) . The paper highlights some cardinal uniformity in the revelation patterns of these houses, and attempts to happen out the finding factor of damage of intangible assets as regulated by the new Torahs in the visible radiation of originative accounting. Introduction This research is an analysis of plus losingss by Australian houses due to impairment based on the one-year studies of some of the ASX100 companies for the old ages 2007 and 2008 together with recent information on the houses. The construct of Enterprise value is used ; the net plus values of the houses have been sourced from their one-year studies and from Bloomberg. Enterprise value is defined as the entire value of a house, dwelling of equity and debt assets plus its market value. Other of import footings are good will, the residuary cost of geting a concern consisting of touchable and intangible assets and liabilities together with contingent liabilities. Accountants define plus damage as a state of affairs where the transporting value of an plus or a cash-generating unit ( GNU ) is more than its recoverable sum. This research takes into consideration of import Australian accounting criterions such as the AASB 3, 116, 136, and 138. In the exercising of apportioning concern costs b etween assets and liabilities, International Financial Reporting Standards ( IFRS ) are besides taken into consideration. Asset damage policy in Australia The Australian Accounting Standards Board ( AASB ) requires that whenever there is an indicant of damage that the Council will measure the state of affairs and shall gauge the recoverable value of the assets. ( Asset damage policy 2008, p.1 ) . The aim of the policy is to guarantee uninterrupted one-year reappraisal of plus damage as required by the Australian Accounting Standard AASB 136. This is in tandem with the legislative demands of the Local authorities ordinances of 1999. Separate 3 of the plus damage policy in Australia provinces that, Unless otherwise specified by these ordinances, a council, council subordinate or regional subordinate must guarantee that all accounting records, histories and fiscal statements are prepared and maintained in conformity with all relevant Australian Accounting StandardsaˆÂ ¦.. ( Mallala, 2008, p.2 ) . All non-current assets must be revalued by the Council, its subordinate or a local subordinate with respects to the Australian Accounting Standard AASB 116. The accounting criterions in Australia require that if an plus is shows marks of damage at lower limit, several indicants should be used to measure the state of affairs. First, external beginnings of information are examined ; this includes market conditions, legal, political, economic and technological tendencies in which the house operates. Second, internal beginnings of information are used to measure the physical harm of the plus ( or obsolescence ) . The of import alterations that have occurred, are happening or that might happen in the hereafter are noted. Such alterations include the possibility of the plus non being disused and the finite serviceability of the plus instead than its indefinite utility. Third, from an internal coverage position, other factors besides affect the damage of an plus. These include the existent support required to run, keep or regenerate the plus may be significantly higher than budgeted. Therefore if it occurs that an plus may be impaired, its residuary utile life demands to be re-evaluated. This means that the amortisation methods need to be reviewed and consequently adjusted to reflect the applicable Accounting Standards to the plus. This should be done even if no impairment loss is recognized. Another factor to see is the value in usage . For non-profit devising administrations, the future value of an plus is independent of its ability to bring forth hard currency flows. In this instance, value in usage is determined by ciphering the depreciated replacing cost of the plus. Depreciated replacing cost is merely the plus s current replacing cost less the accrued depreciation ; this is calculated to mirror the expired future economic value of the plus. In the one-year fiscal statements of houses, AASB 136 and 138 requires that they must be prepared in conformity with Australian International Financial Reporting Standards ( AIFRS ) , the Australian version of the International Financial Reporting Standards ( IFRS ) . Annually, houses are required to describe to the Audit Committee responsible for supervising plus damage and those assets that are considered to be impaired are valued in conformity with the in usage value method. Methodology Intangible assets in 2007 and 2008 represented major parts of houses across assorted industries. The figures below show the aggregative value of intangible as at 30 June 2008 was valued at $ 75 billion, while that of Goodwill stood at $ 146 billion. The entire value of $ 221 billion represented merely 26 % of net assets on the balance sheet ; this consequence nevertheless is surely non the representation of the full market sector. Hence, to avoid bewilderment of consequences, this research focuses on high user companies and investigates the revelation patterns of sampled Australian largest industrial houses and the determinations made by such companies with respects to impairment charges relative to their intangible plus portfolios. In order to ease the advancement of accomplishing this aim, a choice of industrial houses listed on the Australian Stock Exchange ( ASX ) that publically released their one-year studies from the old ages 2007 and 2008 was obtained from the companies web sites and from Bloomberg. The choice was farther narrowed by foregrounding companies that were: ( a ) larger portion of their assets as intangible assets in 2007 and 2008 ; and ( B ) were affected by damage of these assets as observed on their balance sheets. The samples together with more descriptive information on these companies are displayed utilizing tabular arraies and figures. A ocular appraisal of the informations in figure-2 shows the outrageousness of the intangible assets held by the sampled Australian houses. These high user houses accounted for about $ 97.5 billion in intangible assets ( Brand finance, 2008, p.3 ) . The one-year studies for 2007 and 2008 of the sample houses were reviewed, with a acute involvement to the revelations patterns of the houses sing intangible assets. To get down with, the revelations are examined to set up whether they complied with the general demands of the pertinent accounting criterions. This is done to find the uniformity and consistence of revelation by the companies since the acceptance of the AASB 138 in 2005. Following, good will is isolated from the net intangible assets and the damage charges ( if they exist ) for 2008 were identified. The research utilizes secondary informations from major research web sites such as Brand finance, Bloomberg, and the ASX. The figures are obtained from such sites and analyzed utilizing Excel and fiscal theory in the context of Australia. Intangible assets of Australian ASX 100 houses Intangible assets are cardinal subscribers to the market capitalisation of the ASX 100. The 2008 planetary fiscal crisis came along with a rush in demand and a autumn in portion monetary values as some houses were blamed of intensifying the state of affairs with their hapless fiscal coverage patterns. More than $ 146 billion of good will was represented on the balance sheet of houses, but most of these assets had been speculated to be written down in 2008. The intent of this research is to analyze the drumhead and motions of intangible assets by the ASX 100 houses as disclosed by them. This is done to measure some of the houses that reduced their plus due to impairment and to analyze the difference between endeavor value of intangible assets and their net balance sheet value. The findings are shown below. Off Balance Sheet Intangible assets The balance sheet in general is non a good representation of plus portfolio of Australian houses. About 49 % of endeavor value as at 30th June 2008 is non reflected by balance sheets. Across the industries, intangible assets represent a larger portion of the unrevealed value of the houses. However, the difference between touchable and intangibles varies significantly across the sectors as shown in the tabular array below. At the top is the Media and Entertainment sector where merely 12 % of the endeavor value comprises of touchable assets while in the belongings sector, the endeavor value is less than the book value of touchable assets. The AASB late released an article titled Initial Accounting for Internally Generated Intangible Assets . In this article, AASB documented that all intangible assets should be treated the same, irrespective of whether they are internally generated or are acquired as in a concern combination ( AASB, 2008, p. 43 ) . Damage Charges The Australian Stock Exchange witnessed a diminution in market capitalisation of approximately 16 % between 2007 and 2008. During this period, less than 1 % of intangible assets had been written-off as a consequence of damage. This was surprisingly low given the slack in the stock market. An Australian house, Valad Property Group wrote off the highest value of its reported intangible assets. The impairment charge was 31 % of the transporting value of the assets. This was the highest impairment charge in footings of dollars. As the Australian economic system continued to gimp, experts suggested that important damages were at hand in the predating fiscal twelvemonth. Basing on the current portion monetary value at that clip, a research conducted by Brand finance suggested that good will damages would be about $ 50 billion. In the sentiment of this research, impairment reappraisals must be continuously conducted on single companies so as to update the informations on companies and to do usage of more robust rating techniques. In such a hazardous environment, company managers must use the services of an independent audit house so as to carry on these impairment reappraisals. This implies that the current auditing studies put their focal point on intangible assets wholly on fiscal coverage. This should non be the instance since in times of economic adversities ; companies that tend to leverage their intangible assets efficaciously enjoy the highest outputs in periods of economic recovery ( AASB 2008, para.12 ) . Table-1: Significant Damages Charges in 2008 The largest damage charges are summarized in the tabular array below. Company Charge Description Foster s $ 470mil. ( 14 % ) of entire intangibles Good will in Americas: $ 190m. Trade names in Americas: $ 79m. ( Both of these are chiefly from a diminution in gross revenues and hard currency flow outlooks ) . Good will in AAP Wine concern: $ 201m. ( Chiefly from inauspicious exchange rates and force per unit area on the Australian vino class in the Americas. ) IAG $ 342mil. ( 11 % ) Hastings trade name in the United kingdom: $ 52m. Customer lists: $ 13m. Good will in Hastings, Alba and Advantage. Operationss in the United kingdom: $ 277m. Tabcorp $ 194mil. ( 4 % ) of entire intangibles Damage to goodwill in beting section reflecting the altering competitory environment, uncertainness in the regulative government, and impact of challenges due to equine grippe. Goodman Fielder $ 170mil. ( 8 % ) Good will damage due to deteriorating economic conditions in to Fresh Dairy Division in NZ. CBA $ 77mil. ( 1 % ) Software damage due to reconstituting. Beginning: Brand finance, 2008, An rating of intangible plus revelation in Australia December2008, p. 14-15, viewed September 28, 2010, from: hypertext transfer protocol: //www.brandfinance.com/Uploads/pdfs/Australian % 20Intangible % 20Asset % 20Review % 20Dec08.pdf Table-2: Companies with the highest damage charges, a drumhead Valad Property Group 31 % Foster s 14 % IAG 11 % BlueScope Steel 10 % Goodman Fielder 8 % Damage of Intangible Assets and Goodwill Fiscal Coverage Requirements in Australia The chief purpose of AASB 136 is to guarantee that houses carry assets below their recoverable sum. Therefore, intangible assets including good will with an indefinite productive life must be reviewed and revalued on a regular basis for impairment intents. The same applies to amortisation for the touchable assets with preset productive periods. In add-on, whenever there is an indicant of damage, a reappraisal should be conducted to find the possibility of damage. The AASB 136 has defined assorted indicants of damage these are through ; External beginnings of information demoing that major unwanted alterations have occurred, or are expected to happen, in the, market, economic, technological, political or legal environment. Besides, important unfavourable alterations happening with respect to the extent of which an plus is used, or the expectancy of such alterations. These peculiar alterations include factors like the plus going disused, plans to tick over the plus, and a decrease in t he usefulness period of the plus. Other factors that might bespeak damage are an expected addition in the discounting rate when gauging the value of an plus, the transporting sum of an plus transcending its market value and eventually when internal auditing studies indicate that forecasted net hard currency flows from the plus are lower than the forecasted operating costs for that plus. The aggregative findings of this research indicated that the diminution in market capitalisation of the ASX between 2007 and 2008 of approximately 15 % was an indicant of damage most intangible assets. Surprisingly, impairment alterations during this period merely represented 1 % of the transporting cost of intangibles assets ( including good will ) . This is highly low with respect to the impairment in the Australian economic system. This low value may be attributed to disclosure by houses particularly those whose that have a big portion of their assets as intangible assets. Value at Risk of Future Damages The market conditions in the ASX have suffered important diminutions since the planetary fiscal business district. Most of these companies are yet to retrieve to the full and it is anticipated that these inauspicious economic conditions will trip more reappraisals so as to find damage. Examples of Intangible Balances at Hazard This article besides examines those companies that are vulnerable to impairment due to the current economic crisis. Some of these companies are listed below for illustration intents ; it does non intend that they are the most vulnerable. As declared Impairment losingss for non-goodwill intangibles may be driven by many factors such as alterations in general concern conditions, alterations in engineering, worsening market values, altering involvement rates, or alterations in how a company employs its assets ( Mulford A ; Comiskey, 2002 p. 223 ) . Figure-2: Enterprise Value by Sector Value Characteristics of Intangible Assetss In order to efficaciously value intangible assets, an apprehension of the properties and map that these assets play in the value concatenation. The undermentioned features are of import when valuing intangible assets: intangible assets have no efficient markets ; they are in existent sense sold or bought as portion of a concern combination. This means that the market techniques for valuing intangible assets are seldom applicable ; the relationship between investing and returns is non-linear. This means that the utilizations of cost rating techniques are non really much applicable, salvage for replicable assets. Non-financial techniques sing the step of intangible assets tend to be hapless. On the other manus, of import rating penetrations may be facilitated by obtaining information from beginnings such as rational belongings audits, marker research studies, and concern programs. In add-on, intangible assets do non decrease in value through uninterrupted usage ; they have no competiti on, connoting that coincident usage of these assets is possible. This can take to speedy growing and increased borders. The value of intangible assets is frequently affected by the value of other assets ; this causes a complex interaction in the value concatenation. In order to clearly see clearly the relationship between intangible assets and other assets, value maps may be used in researching these interactions. It may besides be necessary to group complimentary intangible assets for intents of rating. The rating study must besides incorporate a precise definition of the type of plus being valued, particularly where it has multiple rights. The usage of footings such as brand is excessively general, specific footings should include inside informations such as patents and right of first publications, hallmarks and trade secrets. Reversal of an impairment loss During describing day of the months, houses must measure whether at that place exists any indicant of impairment loss for intangible assets ( except good will ) was reversed. An impairment loss realized for good will is irreversible. Where an indicant of impairment loss is reversible, the touchable plus s reversible sum is assessed. In instance an impairment loss is found to hold been reversed, its increased carrying sum is ever less its transporting sum less depreciation/amortization that would hold been realized if no impairment loss had been realized. Watts ( 2003, p. 210 ) documented that a more stable balance sheet can be achieved since the rating techniques for finding good will damage are non in practically verifiable so as to avoid damage ( Watts, 2003, p. 220 ) . A reversal of an impairment loss is easy detected in the income statement, unless an plus is revalued sum complies with AASB 116 in which the reversal of the damage is treated as an increased reappraisal. After the reversal has occurred, the charge for depreciation or amortisation is revised in future periods to allocate the assets adjusted transporting sum, minus its residuary value. This is consistently done over the utile life-time of the plus. With respect to a cash-generating unit, the reversal of an impairment loss is done by apportioning the loss ( except good will ) on a pro rata footing. In the allotment of the reversal sum, the transporting sum of an plus must be kept above its recoverable sum. This is the same instance for the plus s carrying sum, less depreciation/amortization, that would hold been determined if no impairment loss been realized in old periods. Results A ; Discussion The initial observation made was that, all the houses studied showed a consistent revelation and coverage on intangible assets. This has been observed as follows ; The houses one-year studies contained clearly outlined accounting policies that define intangible assets and intervention of their damage every bit good as their utile life, depreciation rate and methods. This was outlined in the audit notes along with a sum-up of the AASB policies. The gross carrying sum of the assets and accrued wage back at the beginning of the utility of the plus and at the terminal of the period were included for each single plus category. The sum of damage losingss recorded in the income statement for each single plus category was besides reported by the companies. The reversal sums of damage losingss, disposals, acquisitions and other alterations were besides disclosed in the fiscal studies. The revelation of damage of the sampled houses was consistent with the policies of AASB 136 and AASB 138 and is uniformly applied across the sectors. This is a clear grounds of a high grade of uniformity in fiscal coverage patterns by the houses with respect to their presentation. As shown earlier in figure-2 above, good will represented 17 % of entire assets in 2008 across the full market. Goodwill is therefore the most dominant intangible plus on the balance sheet. The ratio of good will to other intangible assets is 66:34. The laterality of Goodwill on the balance sheet, this is in tandem with the US and UK ( IFRS 3 ) . This is an indicant that acceptance of IFRS is non accomplishing the purpose of increasing the revelation of other identifiable intangible assets. This can be attributed to several factors, both procedural and market such as ; Overrated monetary values paid during times of economic optimism adding important value to concern combination values non straight attributable to peculiar assets ; and the failure to apportion purchase monetary value to assorted identifiable intangible assets, and underestimating the already identified assets ( Carlin, Finch A ; Ford, 2006, p.203 ) . Another of import factor is related to houses reluctance to attach value to intangibles that have definite utile lives and have to be amortized. In add-on, deficiency of expertness on intangible assets by valuers leads to inappropriate pricing of these assets. This leads to improper rating of good will despite the demands of AASB 3 s that houses must unwrap the type of the intangibles including good will and supply an account about their separate rating. The growing in markets was an advantage for M A ; A overpayments and mistakes in the revelation of intangibles. The economic downswing turned the tide, and the moribund demand demands thorough impairment reappraisals. Disclosed intangible plus types Companies describe intangible assets otherwise. In order to breakdown the mention For easiness of mention this paper classifies Intangible Assets in conformity with the exemplifying illustrations as outlined in AASB 3, these are: Marketing-related intangible assets, Customer-related intangible assets, Artistic-related intangible assets, Contract-based intangible assets, and Technology-based intangible assets. ( AASB 3, parity. BC 158 ) . There seems to be no artistically related intangible plus in these classs. Therefore, whenever descriptions are in sufficient, they are classified as other ( Godfrey A ; Koh 2001, p.44 ) . Arguably, it seems like the damage picks made by houses are motivated by profitableness. Current accounting and fiscal coverage criterions use a overplus of premises and techniques, as used by directors and hearers in finding as to whether an intangible plus transporting value has been impaired. The cardinal variables used by directors in the transporting out of this undertaking includes the jutting hereafter hard currency flow that will be derived from the plus, the jutting hereafter disposal value of the intangible plus, and the false price reduction, growing and rising prices rates in the environment of operation ( Bismuth, 2006, p.10 ) . The manner determinations are made by directors in the exercising of their discretion finally determines the damage disbursals and residuary value of the plus. Whenever directors are in a place to find values for the intangible assets, disbursals, and net incomes of their companies, this exacerbates the hazard that originative or difficult line a ccounting options are used ( Dean A ; Clarke, 2004, p.i-iv ) . As indicated in above, intangible assets ( excepting good will ) represented 17 % of entire assets in 2008 across the full market. With respect to the intangible value and the 2008 damage disbursal, internally generated intangible assets constitute a larger portion of the unrevealed value across the industries. Annual studies were non in general good beginnings of comprehensive information on the type and nature of internally generated intangible assets. In Australia, it is non mandatory for companies to unwrap any of these resources. This is in malice of their significance to the current and future prosperity of the house. AASB moved to look into this job in 2002 by let go ofing a treatment paper that was manner in front of the public declarations of the AASB s correlatives. In the papers it is stated that: The mode by which an intangible point comes into being is non relevant to the finding of whether the point can be identified as an plus. Therefore, intangible points of the same nature, irrespective of whether they are acquired in a concern combination or internally generated ( planned or unplanned ) , could be analyzed in the same manner to find whether they are assets. ( AASB 2008, ch.2, para.56 ) . Decision A new epoch in intangible plus revelation dawned on Australian houses in 2005 when AASB 138 Intangible Assetss and AASB 136 Damage were introduced. Together, the two new accounting criterions oversee the rating and revelation of intangible assets and the handling of their ineluctable damage. By analyzing a sample of intangible assets of houses in Australia listed on the ASX as for the old ages 2007 and 2008, it is apparent that there is great grade of consistence and regularity in the revelation of intangible assets by these houses. As shown in the research, good will represented 17 % of entire assets in 2008 across the full market. Goodwill is therefore the most dominant intangible plus on the balance sheet. The ratio of good will to other intangible assets is 66:34. Goodwill on the balance sheet, this is in tandem with the US and UK. This is an indicant that acceptance of IFRS is non accomplishing the purpose of increasing the revelation of other identifiable intangible assets. This is partially attributable to the size and development of these houses ; all of the houses in the sample are placed within the top 100 houses listed on the ASX. Information on these houses is provided in the one-year studies which are in bend prepared utilizing modern accounting policies sin g intangible assets and their damage. The provided rating of plus values, their acquisitions, damage, and disposals cuts across important intangible plus classs. The companies presented their revelation in a mode designed to run into the outlook of the AASB 136 and 138. Conceivably the most singular characteristic of the revelation of intangible plus was the finding of their impairment loss between the old ages 2007 and 2008. Different analyses are used and sum-ups are provided utilizing tabular arraies and figures as shown above. Closer scrutinies of the books maintained by these houses indicate that these houses are taking a really conservative or arguably originative attack towards the finding of damage, with a goodwill damage of merely 1 % . in every bit much as the attack taken by these houses lowers the impairment loss in the short tally and boosts net incomes, what is less clear is the consequence on plus book values created as a consequence of originative accounting. The attack leaves higher book values on the balance sheets. Due to economic uncertainnesss, alterations in common concern fortunes such as technological alterations, decreasing market values, worsening involvement rates and a overplus of other intrinsic and extrinsic facets will connote that the intangible assets with finally be impaired ensuing in a considerable write-off of these overrated assets. From the analysis it the sampled houses may be prosecuting in originative accounting by using really conservative techniques to impairment finding which is raising both net incomes and the assets book values in the short tally. Perchance this postponement of impairment losingss may attest, and take tonss of naif shareholders by storm.

Euclid of Alexandria and His Contributions to Geometry

Euclid of Alexandria and His Contributions to Geometry Euclid of Alexandria lived in 365-300 BC (approximately). Mathematicians usually refer to him simply as Euclid, but hes sometimes called Euclid of Alexandria to avoid confusion with the Green Socratic philosopher Euclid of Megara. Euclid of Alexandria is considered to be the Father of Geometry. Very little is known about Euclids life except that he taught in Alexandria, Egypt. He may have become educated at Platos Academy in Athens, or possibly from some of Platos students. He is an important historical figure because all of the rules we use in Geometry today are based on the writings of Euclid, specifically The Elements. The Elements includes the following Volumes: Volumes 1-6: Plane GeometryVolumes 7-9: Number TheoryVolume 10: Eudoxus Theory of Irrational NumbersVolumes 11-13: Solid Geometry The first edition of the Elements was actually printed in 1482 in a very logical, coherent framework. More than one thousand editions have been printed throughout the decades. Schools only stopped using the Elements in the early 1900s, some were still using it in the early 1980s, however, the theories continue to be those that we use today. Euclids book the Elements also contains the beginnings of number theory. The Euclidean algorithm, which is often referred to as Euclids algorithm, is used to determine the greatest common divisor (gcd) of two integers. It is one of the oldest algorithms known and was included in Euclids Elements. Euclids algorithm does not require factoring. Euclid also discusses perfect numbers, infinite prime numbers, and Mersenne primes (the Euclid-Euler theorem). The concepts presented in The Elements werent all original. Many of them had been proposed by earlier mathematicians. Possibly the greatest value of Euclids writings is that they present the ideas as a comprehensive, well-organized reference. The principals are supported by mathematical proofs, which geometry students learn even to this day. Main Contributions He is famous for his treatise on geometry: The Elements. The Elements makes Euclid one of if not the most famous mathematics teacher. The knowledge in the Elements has been the foundation for teachers of mathematics for over 2000 years Geometry tutorials wouldnt be possible without the work of Euclid. Famous Quote:  There is no royal road to geometry. In addition to his brilliant contributions to linear and planar geometry, Euclid wrote about number theory, rigor, perspective, conical geometry, and spherical geometry. Recommended Read Remarkable Mathematicians: The author of this book  profiles 60 famous mathematicians who were born between 1700 and 1910 and provides insight into their remarkable lives and their contributions to the field of math. This text is organized chronologically and provides interesting information about the details of the mathematicians lives. Euclidean Geometry vs Non-Euclidean Geometry At the time, and for many centuries, Euclids work was simply called geometry because it was assumed to be the only possible method of describing space and the position of figures. In the 19th century, other types of geometry were described. Now, Euclids work is called Euclidean geometry to distinguish it from the other methods. Edited by Anne Marie Helmenstine, Ph.D.

Silicon vs. Silicone

Silicon vs. Silicone Silicon vs. Silicone Silicon vs. Silicone By Maeve Maddox A reader has observed confusion between the words silicon and silicone and has asked for a post to illustrate the difference. Silicon (chemical symbol Si) is a non-metallic element that ranks next to oxygen in respect of abundance in the ground. Silicone is a chemical compound that contains silicon. The teeny plates that contain a set of electronic circuits are usually made of silicon. Because so many silicon chip manufacturers located their facilities in the Santa Clara Valley south of San Francisco, the area came to be known as â€Å"Silicon Valley.† Silicone has a great many different applications for everything from breast implants to spacecraft assembly. It’s used in the manufacture of textiles, paint, cosmetics, and cookware with non-stick surfaces. Here are some examples from the Web in which the words appear to be unintentionally reversed: Plan your busy social life with this fun planner from the Silicone Valley collection.  - a stationery site. Social Media Goes to Washington - Obama Heads to Silicone Valley - a news site. Some years ago, when silicon baking wares came out, I jumped on them with glee.  - a personal blog. Sometimes, the â€Å"error† is deliberate. For example, an episode of the television series Botched is called â€Å"Silicone Valley.† It’s about a woman who has had numerous plastic surgeries with horrific results. An article in Newsweek is headed â€Å"Home: It’s Silicone Valley.† The article is about silicone cookware. A car wash located in Miami, Florida is called â€Å"Silicone Valley Car Wash.† Silicone is an ingredient in some car waxes. If you are referring to the element, the valley, or computer chips, spell the word silicon. For products or applications, spell it silicone. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Misused Words category, check our popular posts, or choose a related post below:7 English Grammar Rules You Should KnowYay, Hooray, Woo-hoo and Other AcclamationsNeither... or?

Literacy and numeracy demands in lesson plans Assignment

Literacy and numeracy demands in lesson plans - Assignment Example The following are the learning outcome for numeracy demands †¢ Be able to measure distances on the map using the scale provided †¢ Student should be able to locate places of interest using the map direction and scale †¢ Students should be able to read the compass direction of a place and pinpoint some of the resources found in Victoria †¢ Students should be able to locate various human environments, spread of settlement, population, towns and cities and land use in Australia. †¢ Students should be able to know why environments change †¢ The students will be able to identity a grid and read its location Literacy learning outcomes Literacy skills help the learner understand the aspects of language and how to employ these aspects in managing school work and social life. Literacy skills are developed through writing, speaking, listening, viewing and reading. Literacy shapes the way students view themselves in relation to their environment. †¢ Students should be able to find information on the maps and share it †¢ Students should be able to describe the accurate location of places on the map †¢ Student should be able and become familiar to tourist maps †¢ Students should be able to answer the question asked in the text book and share and check the response with the others †¢ Should be able to present their conduct group discussion and share the knowledge in class Justification of the numeracy demand... Teaching numeracy skills among ESL and SOSE learners will socialize them towards believing that numeracy skills are important and can be imbedded in their school and social life (Kemp & Hogan, 1999). Numeracy skills is not all about solving mathematical problem but being in a position to effectively sue them as required in normal life instances. According to Fin (1991), the interest of understanding how the school curriculum of the Post-compulsory Education and Training affected Australia’s economy began in the 1990’s. To investigate into the matter a commission was formed by the government to articulate the links among the sectors of schooling, training work and higher education. The results of the review indicated that numeracy cuts across all disciplines and that that it is relevant to the Australian economy in diverse ways. To be able to perform well in their overall aggregate mark, students need to have high level of numeracy skills. Numeracy is used in class in le arning other subjects such as physical education, geography, English among others. If a students skills in numeracy are not proficient the chances of performing well in other disciplines is relatively low (Barin, 1990). The student’s numeracy skills are essential in helping them figure out different places on the map. In this case, most of the S1 learners among the foreigners are not conversant with the directions and places around Australia. To help them familiarize with the new environment, the use of compass direction plays a central role. Learning how to find out direction through the use of a compass makes their life in a foreign land safe and easier. Lack of this skill may slower down the rate settling in Australia thus affecting all other social interactions. This skills also comes in

What role does the media play in highlighting environmental concerns Essay

What role does the media play in highlighting environmental concerns and shaping decision-making - Essay Example Merskin (2001), media is a unique presentation mode, which tends to fulfil various psychological functions that are helpful for communicating messages within the parties. In this present day context, wherein the entire world is experiencing increased level of globalisation, gaining momentum of liberalisation along with internationalisation and application of innovative technologies, the role of media has increased its significance as compared to the earlier years. It would be vital to mention in this similar concern that media often plays a constructive role in this modern society in the form of raising greater public awareness regarding any particular issue and most vitally, gathering viewpoints, attitudes as well as information towards such issues. It is strongly believed that media is regarded as amidst the most persuasive communication tools, which display the real stage of community (Dwivedi & Pandey, 2013; Duhe, 2007). The diverse forms of media encompasses magazines, newspapers and books, internet medium, radios and televisions among others, which can further be categorised as the print media, electronic media and web media (The University of Iowa, n.d.). These diverse sorts of media are often acknowledged as mass media and are frequently utilised with the aim of disseminating various valuable information. It has been apparently observed that various organisations belonging to this modern day context and the governmental agencies or departments often use the above-discussed mass media forms quite extensively. It is worth mentioning in this similar regard that modern organisations generally tend to advertise their wide assortment of products and/or services through dissimilar forms of social media that comprise magazines and internet medium among others. On the other hand, the governmental agencies or departments generally use the above discussed mass media forms in order to deliver information ab out the respective governmental policies along with

Global Environmental Change Essay Example | Topics and Well Written Essays - 2000 words

Global Environmental Change - Essay Example Serious threat from oil exploration on the eastern slopes of the Andes and the adjacent Amazonian lowlands of Colombia, Ecuador, Peru, and Bolivia have led to a conflict between hydrocarbon hotspot and biodiversity hotspot. Loss of biodiversity and associated ecosystem services is one of the most challenging problems ecologist face. Advances in information technology, featuring computer simulation models built on digital databases and satellite imagery incorporating GPS and GIS can go a long way to identify problems, evaluate risks and design counter measures. Accurate maps are created using remote sensing technology that can play an important role to monitor the environmental effects of human activities on land and water resources. We are passing through the defining moments of human development challenges of the 21st century. Failure to respond will not only stall but also reverse international efforts to reduce poverty. The earth's ecosystems and the biosphere's life-supporting sy stems need to be understood for survival of mankind. The poorest countries are most vulnerable and will be the first to suffer from global environmental change, though they have contributed least to the problem. Large-scale global environmental hazards to human existence include climate change, stratospheric ozone depletion, biodiversity loss, changes in hydrological systems and the supply of freshwater, land degradation and stresses on food-producing systems (WHO, 2008) 1. Their influence on the earth's ecosystems and the biosphere's life-supporting systems needs to be understood for survival of mankind. It also brings the complexity of the systems upon which we depend. Though there are many factors affecting global environmental changes, in this paper we shall discuss the impact of "desertification" and "dwindling biodiversity" on the earth. Desertification Approximately one-third of the earth's land surface is arid desert land with scanty rainfall, sparse vegetation and limited population (Walker, 1997) 2. Deserts are formed by a combination of factors that change over a period of time and will vary with locations. Unscientific land use practices leads to deterioration in vegetation, soil erosion and salinity directly affecting soil fertility and leads to soil compaction and crusting. Population pressure, socioeconomic factors, globalization, unbridled urbanization and merciless mining indirectly induce desertification. The inability to logically and technologically respond to such demands sets off a downward spiral of land degradation. It is very difficult to distinguish whether desertification was caused by reckless land management practices or from climatic turbulence. Due to its vastness, discussing desertification on a global scale require copious deliberations. This discussion is, therefore, being confined to China, which is big enough and favorably positioned in the northern mid latitudes for such a study. China also suffers from a very patchy distribution of water resources 3. China's Environmental Protection Agency has reported that Gobi Deserts expanded by 52,400 km2 during 1994-99 and is now within striking distance from Beijing. Scientists fear if this rate continues complete desertification will arrive within 15 years. Satellite pictures forewarns how two deserts in North central China are

Foreign market entry and its implication (Starbucks case study) Essay

Foreign market entry and its implication (Starbucks case study) - Essay Example In particular, the paper looks at Joint Ventures as an example of the company’s market entry into Spain, and its marketing implications. Generally, the company applies market entry modes and marketing mix to build its brand appeal as well as create a unique product appeal and customer loyalty. These choices have long-term implications in the success of the company. Introduction/Company Background Starbucks Corporation is an international company that deals with coffee products, with its headquarters based in Seattle Washington, America. During its commencement in 1971, the company was a retailer and a local coffee roaster; but it has since stretched out swiftly. It has Italian-style coffeehouse chain and it is the world’s largest coffeehouse company, with presence in more than 60 countries and more than 20,000 stores (Starbucks Corporation 2011). It deals with coffee beans, salads, hot and cold drinks, hot and cold sandwiches, snacks, mugs and tumblers, and sweet pastri es. In addition, Starbucks distributes some of its brand through grocery stores, including coffee and ice cream. Its other products include markets films, music, and books through the Hear Music and the Starbucks Entertainment division. Scores of the company’s products are either location specific or seasonal. Starbuck’s most remarkable expansion, when it used to open new stores days on end, was in the 1990s till 2000s. The company started establishing oversees stores in 1990s; and currently, roughly third of its stores are oversees (Starbucks 2012). Market entry According to Albaum and Duerr (2011), market strategy comprises of an entry mode and a marketing plan. Numerous entry strategies that an organization can adopt when venturing into new markets and regions are available. Each strategy comes with differing degrees of advantages, disadvantages, risks and legal obligations (Gilligan & Hird 1986). According to Albaum and Duerr (2011), the entry strategy to be adopte d should take into consideration company objectives and expectations in terms of volume of business to be gained. The strategy should also take into consideration resources required to effectively implement the strategy and patterns of involvement in other regions. On the other hand, political infrastructure, degree of competitive rivalry within the target market, as well as nature of product to be introduced into the target market should be factored (Yavas, Verhage & Green 1992). Starbucks uses different approaches to market entry, especially in its internalization process. Its entry approach is aimed at satisfying the needs and requirements of every market, seeking to fulfill its traditions and cultures. Presently, the company uses three differently entry methods, including licenses, joint ventures and wholly-owned subsidiaries (Webster 2005). Starbucks entered Spain by signing joint venture agreements with VIPS and El Moli Vell and in 2001. This strategy allow for quicker penetra tion, risk diversifications and faster entry into new markets. It also helps the business to avoid barriers of entry. Like any other strategy, this strategy has its shortcomings; which include loss of management control and lack of the ability to recover capital invested among other (Yavas, Verhage & Green 1992). Group VIPS is a leading European retail and food service operator, while El Moli Vell is a retail operator of pastry shops and cafes in Barcelona area. In

Are Traffic Cameras an Invasion of Privacy Essay

Are Traffic Cameras an Invasion of Privacy - Essay Example Discussion Usually, the traffic cameras can detect an over-speeding car, thereby, enabling the government to take immediate action. For example, in Arizona, the traffic cameras led to the arrest of many law breakers, with 650, 000 tickets given to them, leading to a fine of $37 million imposed for the offence (Morse, 2010). Actually, it is not convincing to argue that the traffic cameras invade the people’s privacy if they commit traffic offences persistently. There are many road accidents resulting from reckless driving such as over-speeding, overlapping among other traffic offences (Friedman, 2007). Therefore, all measures to curb the incidences should not be treated as an infringement of one’s privacy. As a result of limited number of police officers to apprehend the offenders, there is need for technological application that could be used in tracking the offenders on a 24hours basis (Washington Post, 2002). This enhances the vigilance along the major highways in the country and boost the safety both drivers and pedestrians. On the question of privacy, many judges and people agree that there should not be any issue of privacy in a public place (Hankin, 2008). Indeed, the people should not raise privacy concerns when they are out of their homes or in a private office. According to Morse, there are places to be considered as private, including the toilet, bathroom, a person’s own compound, private telephone, personal computer, gym, and a private office (Morse, 2011). For that matter, all actions outside those private domains can be subjected to private scrutiny. In addition, he acknowledges that no law prohibits a driver being observed while on the road (Morse, 2011). Similarly, recording an offence that a driver has committed along the highway does not breach the local and international law. Furthermore, driving is strictly regulated for safety purposes (Morse, 2011). Therefore, those who complain of interference with their privacy misint erpret the Fourth Amendment of the US constitution. The Amendments stress on the need for home safety, thereby, indicating that a doubtless technology can threaten personal privacy and home safety (Morse, 2011). However, this provision should not be misused and taken as a defense for committing crime in the public sphere. When one over-speeds and overlaps on the highway, he/she has to bear the responsibility for the crime, without pointing an accusing finger at the police or the application of technology (Washington Post, 2002). Ideally, the perception that one is being watched might result to decency in public. The person becomes assured that once the camera has captured his/her bad behavior in public, it would not be easy to escape justice (Soda Head News, 2011). For example, if one’s private car was captured overlapping on the road and he/she was in the car, there would be no defense for the crime when mentioned before the law court. Truly, this seems to be a better soluti on to reduce and subsequently eradicate highway crime and improve on the overall safety of all road users. Fundamentally, installing traffic cameras on public places for surveillance is not a crime and does not infringe on the privacy of a person (Friedman, 2007). For example, if

Impact of Labour Unrest for Business (Production) Essay

Impact of Labour Unrest for Business (Production) - Essay Example Labor unrests are generally organized and strike actions carried out by labor unions in the case of the failure of solving such labor disputes. The employees and the overall workforce alter the normal production routine process, thus impacting the shareholders of the production business; the key reason for these unrests is the workers articulating for the increase in wages and labor rights (Silver, 2003). The impacts of labor unrests on a production firm or a business can be discussed as follows. Lower Production levels Labor unrests have a significant impact on the businesses dealing with production, as they lead to lower production levels. Strikes by workers affect greatly the production levels, because most of the production businesses do not have production schedules where one day stock is taken as surplus. Thus labor unrests can lead to the drastic decrease in the production volumes, which can impact the key wholesalers and retailers negatively, as the business production is a c ountrywide supplier (Silver, 2003). Shift in consumer demand Labor in the production business causes shifts in the demand of consumers, notably in the case of strikes. Typically, most of the manufacturing companies keep a significant volume of inventory in their warehouses purposely, as a precaution against labor unrests, which can only represent not more than a month inventory. This production schedule approach ensures that companies continue with their normal production and supply operations for some time after the unrests, thus providing a period for solving the labor dispute without much effect on their business operations (Silver, 2003). In the case of the dispute taking long to be resolved, consumers may wait for the return of the normal operations or shift to the available competitors. Overlap impacts Labor unrests of higher degree of magnitude such as nationwide strike have a direct as well as an indirect impact on the related markets. Such labor unrests are characterized by work stoppage in the production manufacturing company, and this has a great impact on its major outlets and other stakeholders that have frequent transactions with the company. Labor unrests can lead to a standstill of operations in its markets. Companies operating as providers of complimentary services to the production company are the highly affected, because its services or commodities will loose it major market share due to the slowdown of operations at the production company’s plants. This situation may lead to these stakeholders’ decision to go to other markets and the suppliers’ decision to go to the market outlets (Silver, 2003). Loss of revenue and profits Labor unrests cause slowdown and, at times, standstill in the operations at the manufacturing plants. These standstills and slowdowns have an impact of reducing the volume of sales. Lower volume of sales translates into lower revenue realized from them, leading to lower profitability as compared with the period of labor stability (Silver, 2003). This impact is commonly expected to extend to the major outlets, as the level of supply will go down and the company is a nationwide distributor. In this case the company will go at a loss, since the overhead fixed cost will remain the same, straining the less realized revenue and the profits. Impact on employee performance An

Foreign market entry and its implication (Starbucks case study) Essay

Foreign market entry and its implication (Starbucks case study) - Essay Example In particular, the paper looks at Joint Ventures as an example of the company’s market entry into Spain, and its marketing implications. Generally, the company applies market entry modes and marketing mix to build its brand appeal as well as create a unique product appeal and customer loyalty. These choices have long-term implications in the success of the company. Introduction/Company Background Starbucks Corporation is an international company that deals with coffee products, with its headquarters based in Seattle Washington, America. During its commencement in 1971, the company was a retailer and a local coffee roaster; but it has since stretched out swiftly. It has Italian-style coffeehouse chain and it is the world’s largest coffeehouse company, with presence in more than 60 countries and more than 20,000 stores (Starbucks Corporation 2011). It deals with coffee beans, salads, hot and cold drinks, hot and cold sandwiches, snacks, mugs and tumblers, and sweet pastri es. In addition, Starbucks distributes some of its brand through grocery stores, including coffee and ice cream. Its other products include markets films, music, and books through the Hear Music and the Starbucks Entertainment division. Scores of the company’s products are either location specific or seasonal. Starbuck’s most remarkable expansion, when it used to open new stores days on end, was in the 1990s till 2000s. The company started establishing oversees stores in 1990s; and currently, roughly third of its stores are oversees (Starbucks 2012). Market entry According to Albaum and Duerr (2011), market strategy comprises of an entry mode and a marketing plan. Numerous entry strategies that an organization can adopt when venturing into new markets and regions are available. Each strategy comes with differing degrees of advantages, disadvantages, risks and legal obligations (Gilligan & Hird 1986). According to Albaum and Duerr (2011), the entry strategy to be adopte d should take into consideration company objectives and expectations in terms of volume of business to be gained. The strategy should also take into consideration resources required to effectively implement the strategy and patterns of involvement in other regions. On the other hand, political infrastructure, degree of competitive rivalry within the target market, as well as nature of product to be introduced into the target market should be factored (Yavas, Verhage & Green 1992). Starbucks uses different approaches to market entry, especially in its internalization process. Its entry approach is aimed at satisfying the needs and requirements of every market, seeking to fulfill its traditions and cultures. Presently, the company uses three differently entry methods, including licenses, joint ventures and wholly-owned subsidiaries (Webster 2005). Starbucks entered Spain by signing joint venture agreements with VIPS and El Moli Vell and in 2001. This strategy allow for quicker penetra tion, risk diversifications and faster entry into new markets. It also helps the business to avoid barriers of entry. Like any other strategy, this strategy has its shortcomings; which include loss of management control and lack of the ability to recover capital invested among other (Yavas, Verhage & Green 1992). Group VIPS is a leading European retail and food service operator, while El Moli Vell is a retail operator of pastry shops and cafes in Barcelona area. In

Impact of Labour Unrest for Business (Production) Essay

Impact of Labour Unrest for Business (Production) - Essay Example Labor unrests are generally organized and strike actions carried out by labor unions in the case of the failure of solving such labor disputes. The employees and the overall workforce alter the normal production routine process, thus impacting the shareholders of the production business; the key reason for these unrests is the workers articulating for the increase in wages and labor rights (Silver, 2003). The impacts of labor unrests on a production firm or a business can be discussed as follows. Lower Production levels Labor unrests have a significant impact on the businesses dealing with production, as they lead to lower production levels. Strikes by workers affect greatly the production levels, because most of the production businesses do not have production schedules where one day stock is taken as surplus. Thus labor unrests can lead to the drastic decrease in the production volumes, which can impact the key wholesalers and retailers negatively, as the business production is a c ountrywide supplier (Silver, 2003). Shift in consumer demand Labor in the production business causes shifts in the demand of consumers, notably in the case of strikes. Typically, most of the manufacturing companies keep a significant volume of inventory in their warehouses purposely, as a precaution against labor unrests, which can only represent not more than a month inventory. This production schedule approach ensures that companies continue with their normal production and supply operations for some time after the unrests, thus providing a period for solving the labor dispute without much effect on their business operations (Silver, 2003). In the case of the dispute taking long to be resolved, consumers may wait for the return of the normal operations or shift to the available competitors. Overlap impacts Labor unrests of higher degree of magnitude such as nationwide strike have a direct as well as an indirect impact on the related markets. Such labor unrests are characterized by work stoppage in the production manufacturing company, and this has a great impact on its major outlets and other stakeholders that have frequent transactions with the company. Labor unrests can lead to a standstill of operations in its markets. Companies operating as providers of complimentary services to the production company are the highly affected, because its services or commodities will loose it major market share due to the slowdown of operations at the production company’s plants. This situation may lead to these stakeholders’ decision to go to other markets and the suppliers’ decision to go to the market outlets (Silver, 2003). Loss of revenue and profits Labor unrests cause slowdown and, at times, standstill in the operations at the manufacturing plants. These standstills and slowdowns have an impact of reducing the volume of sales. Lower volume of sales translates into lower revenue realized from them, leading to lower profitability as compared with the period of labor stability (Silver, 2003). This impact is commonly expected to extend to the major outlets, as the level of supply will go down and the company is a nationwide distributor. In this case the company will go at a loss, since the overhead fixed cost will remain the same, straining the less realized revenue and the profits. Impact on employee performance An

A Brawl in Mickys Backyard Essay Example for Free

A Brawl in Mickys Backyard Essay If you were on the city council, how would you vote on the issue? As a city councilor, I would be reminded that I am entrusted with the duty to provide the ways and means to ensure the safety and security of citizens of Anaheim and work to maintain and/or enhance a high quality of life. I would absolutely support affordable housing for the citizens of Anaheim who need a reasonable housing solution but I would search out alternative locations where a larger affordable housing development might better serve the needs of the stakeholders involved. The proposed development would serve only 15% of citizens in need which seems like a meager attempt to satisfy the real needs of the community. SunCals possible development of condominiums mixed with affordable rentals in a resort district is an interesting experiment, and I would caution any of their stakeholders that this might not be a prudent investment. Does Disney have an obligation to support initiatives that include nearby affordable housing for its employees? Disney has a obligation to maintain a stable place of employment, compensate employees fairly, and create a safe working environment, but is under no obligation to support these initiatives. For the benefit of their shareholders they should support initiatives that could lower employee stress due to extensive commuting times and travel, resulting in healthier employees, lower absenteeism, and reduce employee turnover. Does Anaheim and Orange County have an obligation provide affordable housing for its residents? All communities have an obligation to provide for the safety and security of their citizens and work to maintain a quality of life, especially those citizens who would be considered at risk and in need of affordable housing. To the extent that Anaheim and Orange County have the resources available they should develop and promote existing programs which help to provide housing for residents that are employed locally and paying taxes into the local economy. Then step into the shoes of Disneyland CEO. How do you solve this problem? Disney is a large economic force and has extensive resources at its disposal. As CEO I would coordinate with Anaheim and Orange County in discovering a suitable locations for employee housing. As part of Disneys community relations and corporate giving, employee housing and possible employee housing ownership can be developed. Anaheim would benefit economically with increased property  taxes, Disney can benefit from tax incentives, tax deductions for corporate donations into a community housing program, and would maintain their reputation as a respected business and employer in the community, with little capital expense.

Small Business Franchising Options

Small Business Franchising Options Investigate Evaluate Small Business Franchising Options This assessment informs regarding the franchising options in favour of small business. I have taken Bakers Delight franchise chain in this assessment task. Over here I have discussed about the various types and concepts of the franchises. Further it tells how the business ideas are suitable for business. It also tells about the possible cost structures. It mentions the responsibilities of franchiser and franchisee. Task : 1 Integrated business operation is when an existing business adds other company products into their company may be as a strategy for connecting to align operations and strategy with the organizations money performance. By approaching the design and strategic management of these elements during this manner, its able to maximise the profit generated by the operation, to minimize the waste and normally permit the business to perform effectively. Single unit franchising is the most likely place a brand new entrepreneur can begin. In this type of franchise, the franchisee would only be responsible for running one unit. However they would be tremendously involved with all of the everyday operations of the business. Bakers Delight bakery is one of the best example of these kinds which deals with only Bakery products. Manufacturing franchises offer a company a right to produce goods and services using the manufacturers name (As Bakers Delight product). According to Franchise Perfection, many food and beverage companies are considered manufacturing franchises. These types of franchises might be considered wholesale or distribution companies as well. In this form the franchisor supply the whole materials as well as product to the manufactures. After that they produce the product according to the franchisee agreement along with sale of product to anyone other than a standard consumer. Manufacturers sell their product sprightly to the buyers. They can sell their product to small individual purchasers. Retail is the deal of goods to end users, not for resale, but for use As well as use by the purchaser. The retail business deal with it at the end of the supply chain. Makers sell bulky quantity of goods to vendors, and dealers effort to sell those same quantities of products to consumers. Wholesale is a bulk sale by a manufacturer or distributor to for resale to a retailer. Retail is any sale to an individual or company for end use. This is the point to reach to the customers a wholesaler buy the product from manufacturer then he sell to the retailer and then product reach to the customer. A franchisor that sells goods to the shoppers, As opposed to a trader or provider, who normally advertise their products to commerce, is called retail product. A retailer purchases goods or products in huge quantity from manufacturers directly or via a wholesaler then sells smaller quantity product to the consumer for a earnings. Retailing can be done in either fixed locations like stores or markets, door-to-door or by delivery. In franchise, a Retail service is that provide goods for sale to consumers. All the customers depend on service. If the service is excellent, then franchise until the peck point. (answer, 2017) (wipro, 2018) The franchisor markets a unique business system under a trade name and franchising adopt the standardise procedures to run their own business. It needs to have certain key characteristic to assess viability of franchise from business idea. Intellectual property is a juridical concept which refers to creations of the mind for which exclusive rights are recognized. Under intellectual property law, owners are granted certain exclusive rights to a variety of intangible assets. Intellectual property rights may include copyrights, trademarks, patents, industrial design rights and trade secrets that franchisor own. Franchises are directly linked with individual franchises ,an individual enterprises have their totally free own business, For example soft drink franchises Bakers Delight have contract with franchisor ,a franchisor not allowed to change about quality ,price as well as trademarks. Even advertisement, individual franchisee can change anything with the permission of franchisor. If we are doing business we need to know about terms and condition .it is primary step to make business, if we know the term then we can manage business, For example provided the franchise is operating with the terms and Condition of contract that franchise can help to develop your business .they organize well, and make easy to do business.Services over here we must have Operational Manual, and we must follow this exactly to produce the goods and service. Single unit- carrying the franchise business in a particular area as well as conduct operations. After proven performance, the franchise can request for additional areas. Mufti unit franchise buying of 2 or 3 unit at the initial stage of franchise itself. The importance of marketing and selling financial products and services in a responsible way has been reinforced by the turmoil of the past few years. It is absolutely vital that we provide clear and transparent information on our products and services which is easy for our customers to understand, some of the marketing which we share with other franchises and some of marketing we done ourselves. The franchise, on I am working, is Bakers Delight. Bakers Delight has retail type franchise. In this type of franchise Bakers Delight supply the raw material to the manufacturer then they produce the product under franchise agreement logo. Bakers Delight stores sale the material to customers its mean that a franchise make the direct sale. In this organization retail there is no agent between retailer and the customers. A business idea is a concept which can be used for commercial purposes. It typically centres on a commodity or service, that can be sold for money. There are several methods for developing and testing a business idea. The ability to come up with a business idea can be transformed into a viable business, where ideas supported by feasibility and a business plan can then be sold to interested investors, firms, and interested parties for a lump sum or a management contract, or as agreed. Business ideas, if introduced at the right time, when demand for such service or a product introduced by the idea is expected to surge, can lead to a very profitable business. Regarding product or service, Bakers Delight have to plan about availability of product and service in future similarly they plan about the how much stuff they need in future and how much man power they require in future. It all will need in future for Bakers Delight. Track Record delivers a fusion of practical audit skills with unique supporting IT systems, natural resource traceability expertise. The market goodwill of a Bakers Delight, if a Bakers Delights finance record was good or bad, they are paying their liability and debt properly this all think is a track record of company. It means a company like Bakers Delight, they have their own product standardization and people easily know about their product and there quality of product is too high that all things is the effort for success. Bakers Delight offe rs hands-on support and proven business procedures and systems, to assist in managing your business to success. Location of each Bakers Delight investment in land for outlet or rent, Vehicles for material supplying -purchase, Warranty and guaranty claims, Salaries of Bakers Delights Staff. Starting a new business is risky. One of the biggest benefits to franchising is marketing. The franchiser of Bakers Delight can prepare and pay for the development of professional advertising campaigns. National marketing done by the franchiser benefits all franchisees. In addition, the franchiser can provide advice about how to develop effective marketing programs for a local area through a cooperative marketing fund, a franchiser also provides training for the franchisee. This is especially important if the concept is complex. The franchisee pays an initial fee and an ongoing royalty to the Bakers Delight franchisor in exchange for a proven business operation and identity. Benefits of this package include the franchisors name and its product line, marketing techniques, production and administration system s, and operating procedures. A second option is to pursue a product or trade name franchise in which the franchisee becomes part of a franchisors distribution network. These affiliate franchises are thus able to pool their assets together for purchasing, advertising, and marketing visibility purposes. In Bakers Delight franchising, franchiser by building a successful brand through marketing, good practice and innovation creates goodwill which is utilized by the franchisees to further give the goodwill and add value to the business. As the business grows and market recognition increases, the goodwill coming to the business will also increase. Goodwill therefore is an important component when valuing a business and should be evaluated and protected. Goodwill can be most easily be defined and protected by gaining Registered Trade Marks for the trading name and logs of the franchise. While a payment to employ a trademark license is a royalty, it is accompanied by a guided usage manual, the use of which may be audited from time to time. However, this becomes a supervisory task when the mark is used in a franchise agreement for the sale of goods or services carrying the reputation of the mark. For a franchise, it is said, a fee is paid, even though it comprises a royalty element. The additional resources associate partner scheme offers new recruiters or experienced recruitment consultants a one step to run their own recruitment desk and retain all of their billings. Franchiser should supply the products and services for the brand as a whole, including research and development of new products and services. It is a proven system of doing business. It is also important to maintain the standard of the product among all the franchisees. Selling quality products in one location and less quality in another is not ok and can ruin the reputation of your franchise. (definations, 2001-2017) (drone_pilot, 2016) (uk essay, 2003-2017) (uk essay, 2003-2017) Customers expect each franchise to be the same and provide the same service and quality regardless of where they are located. It is important to maintain a high level of support and training for each franchisee as not all will have experience in running a business. Additionally, there may be some aspects that need support from other people, such as financial support or legal support. Its a good idea to have a network of trusted professionals around us that franchisees can also use. The most important aspect of running a franchise business and it is the franchisor that is responsible for maintaining consistency through everything in the business. As the business owner, it is his responsibility to make sure all franchisees have access to promotional products. This includes, but is not limited to: posters, flyers, brochures, competition entry forms, loyalty cards and promotional giveaways such as badges or buy one get one free coupons. This is so franchisees offer the same promotions an d discounts regardless of where they are. Of course it is always great to put a spin on the marketing products to suit their environment but making sure franchisees are always offering the same thing is very important for the customer. It is a main function of franchiser that they has in the new endeavour is as an investor into business. they will need to invest financially with an initial franchising fee, but also be prepared to pay any additional costs that might be necessary to get the business up and running such as equipment costs. Also, there will be ongoing royalty fees that he or she will need to be aware of. Give a copy of the franchise agreement, other contracts and the franchisors financial statements. (Small Business Administration) The franchisor, however, cannot, under federal law, make claims concerning the amount of money you will make. The UFCO (Uniform Franchise Offering Circular) will disclose estimates of all initial start-up costs. After establishing the context, the next step in the process of managing risk is to identify potential risks. Risks are about events that, when triggered, cause problems. A franchiser has tope based on the best available information, be tolerable, has ability to take human factors into account, to be transparent and inclusive, to be dynamic, iterative and responsive to change. The Franchisee is ready to start a new business, but may not have enough experience in running a business to be comfortable starting one from scratch. (ESDmodule2011.pd, 2017) (Small Business Administration) Most new businesses have a fairly high failure rate-sometimes due to mistakes made by inexperienced business owners, other times due to unexpected conditions in the market. What the Franchisee is looking for is a leg-up in starting a business so they have an increased chance of success. This is exactly what purchasing the right to use an existing business system and Bakers Delight brand name provides them. Franchises have to run your business according to their standards of Brumby regarding products and services. Consistency from store to store is what brings customers into franchise businesses. A customer should expect to get the same product or service from Bakers Delight brand name regardless of which building they walk into. If one outlet doesnt do it, other units suffer. Franchisee have to fulfil their capital requirement in business capital requirement is the type of fund which a business needed to be set up so that the responsibility of their franchisee to fulfil all the basic need of capital. Likewise capital is needed for purchasing machinery for business and for daily revenue expenditure for business franchisee have no right to hide any type of capital requirement. That the duty of franchisee to pay proper royalty to their franchisor they have no right to hide any financial information to their franchisor. Royal payments: The key responsibility of franchisor to pay their earn royalty at proper time likewise if a franchisee get a profit of $10000 and there royalty in 25% so it the responsibility of franchisee too pay $2500 at a proper time. They are not allowed to do any manipulation of account they have to pay royalty properly at proper time. There is the proper commitment between franchiser and franchisee they have to be honest to their commitment and have do business in legal term and condition franchisee have to commit about the responsibility of their work and they have to agree to their commitment likewise commitment to do business for ten year w ith franchisor. Franchisee have to age with franchiser to fulfil all sort of operational requirement to their business like wise they have to do all daily operation of the company likewise doing daily manufacture process of the company and that the key responsibility of a franchisee to fulfil daily operational requirement of business. Franchisee have to do all sort of marketing requirement they have to buy all daily raw material from market and any sort of marketing like advertising of product etc have to do if franchiser want it. That the essential role of franchisee to inform the franchisor of the total sales and about money and about the amount of royalty franchisee also able to report the amount of raw material used in the industry and much more what are the raw material should be in the business. There is a fair limitation of franchisees that how much they will be involved in the franchise business, some have already set rules about incorporating some rules. TASK : 2 Executive Summary In this report, we are going to discuss regarding the strategies required to enhance the operations of franchise as well as demonstrating analyzing the necessities through different tools of presentation. Moreover we have done the comparison as well as evaluation regarding the operations of the franchise. This assignment hold huge information and description of factors which are consider for the set up as well as for the success of any kind of franchise. I have chosen Bakers Delight an Australian franchise Company for my assignment. It will provide us the thoughts information to value how franchises are getting developed as well as their working formula. Help of comparison is taken to describe the factors clearer to the reader. Moreover this report has the checklist of the activities done by the franchisor and the franchisee I running the franchise which will the reader to understand the role of both more clearly. Introduction Bakers Daylight is a Australian-owned bakery franchise chain with outlets in Australia, New Zealand and Canada. Todays date Bakers Delight is running in more than 700 places. They are getting excellent response from all locations because they know very well that how to win the heart trust of their customers. They straight focus on their quality. This topic will help us in investigation evaluation small business franchising options, Identification of the core elements of the business franchise ventures, Determination of the essential requirements for establishing franchise business operations and the evaluation of franchise proposals. (WikiVisually) (bakers delight, 2017) In 1980, Roger and Lesley Gillespie started Bakers Delight in Hawthorn, Melbourne for the first time as we can say the origin of Bakers Delight is from Melbourne. They selected this name because they trust that each loaf, each roll, each pizza and bun should be a delight to bake, a delight to consume as well as the service you receive is delightful. Nowadays you can found Bakers Delight nearly in 700 locations across four countries. Thats a lot of bread being baked fresh and delivered to a lot of happy customers In 1995 November they went global for first time since they started, direction towards the Tasman for opening their first Bakers Delight branch in Auckland (New Zealand), till the end of year 2000 400 bakeries open across Australia New Zealand by Bakers Delight. Bakers Delight has been supporting BCNA (Breast Cancer Network Australia) for more than 15 years and has raised $15 million so far. Franchising is a growth strategy as a mutually-dependent joint venture of the Bakers Delight franchisor and Franchisees. The franchisor franchisee themselves with in view of their mutual achievements. To achieve this goal of Bakers Delight, the commitments of the parties, all through their relationship, based on central policy principles. The principles apply to the relationship linking franchisor franchisee, as well as the relationship of the master-franchisee sub-franchisee. From their classic loaves and famous hot cross buns, to crusty artisanal sourdoughs as well as breads baked fresh every day. Full of flavour and made with love, they use 100% pure ingredients for making their products. They are passionate about local communities. Thats why their bakeries donate any product left at the end of the day to local charities and community groups making sure fresh bread goes to the folks that really need it. Bakers Delight is a large Australian owned bakery started in 1980. Bakers Delight can be found in more than 700 locations across Australia, Canada, USA and New Zealand. Thats a lot of bread being baked fresh and delivered to a lot of happy customers. As there are 27 outlets of Bakers Delight available in New Zealand and its business performance is increasing day by day. Bakers Delight can be found in more than 700 locations across Australia, Canada, USA and New Zealand. Bakers Delight is in the top 500 private companies for 2014. From past 36 years, Bakers Delight tried each day to deliver best products to their customers and achieved success in winning the hearts to their customers. Their vision is to be the worlds best fresh bread retailer, Mission is to deliver quality bread, provide superior service as well as create delight for all stakeholders, and Values include having a passion for fresh, delightful bread, creating delight for all stakeholders, ensuring a win-win environment for all stakeholders and living and breathing innovation. (sportstg) The main competitors of Bakers delight are Hollywood cafe, Brumbys as well as Panettone. The main competitor of Bakers delight is Woolworths which is more known brand and older than Bakers delight. But in some areas Bakers delight doing good Bakers delight giving online services to their customers but Woolworths is not started their online services yet. Woolworths have a good name in United Kingdom with over 800 stores 30000 employees. It is successful, popular own-store brand such as Lady Bird, Chad Valley. We support every move of our franchisees, with our hands-on support with our proven business processes and systems to run every day of the bakery. In the last 36 years the development and improvement of our performance. With their extensive training and ongoing job opening your own business, reliable work and more about the subject. Each franchise dedicated, passionate, full of dealers is part of a strong community. Our meetings, planning education, competitions and local events organization, you can share ideas and insights. We have an experienced marketing team to assist you at the national and local level. Our support office constantly searches for new operating capabilities, developing new products, targeting new markets and refining online platforms. In 1980, Roger and Lesley Gillespie started Bakers Delight in Hawthorn, Melbourne for the first time as we can say the origin of Bakers Delight is from Melbourne. Nowadays you can found Bakers Delight nearly in 700 locations across four countries. There being a lot of freshly baked bread and a lot of happy customers In May 1,1980 Bakers Delight was founded by Roger Lesley Gillespie in Hawthorn, Melbourne. By 1990 20 bakeries operating in Victoria, In between 1993-1994 Bakers Delight expanded nationally and opened in Sydney, New South Wales, Brisbane, Queensland and Perth and west Australia. In 1995 November they went global for first time since they started, direction towards the Tasman for opening their first Bakers Delight branch in Auckland (New Zealand). In end of year 1996 225 bakeries open across Australia New Zealand, in next four years they across 400 bakeries. In 2003 Bakers Delight opens in Canada under the COBS Bread brand. Over 600 bakeries operating across three countries in 2004. Bakers Delight celebrated their Silver Jubilee in 2005 for delivering fresh products continuously winning the hearts of their customers from last past 25 years. In 2015 raise $1.79 million for BCNA. Taking total to more than $15 million. Till the end of year 2016 they are operating nearly 700 bakeries across four nations. Bakers Delight made a good brand name with their 100% pure products in the market; they extremely focus on their quality because better quality touches the heart of their customers which make them their loyal customers. Since 1980 they are getting big and better each day. Every day they bring fresh products to their shop for their customers and if some products left back in shop till evening then they directly send those products to charities. Bakers Delight has gain impressive progress in its sales and popularity. Looks after its review of the information provided by the franchise as a franchise is able to invest the money rather than running a good business. Over the past 36 years with over 700 bakeries in Australia, Canada, USA and New Zealand, Bakers Delight is known as Australias Most Successful Bakery Franchise. Provides a dedicated support team group marketing advertising campaigns, public relations, research, and design as well as product development. Bakers Delight known well for its strong brand name, company owns many logos, trademarks, tag it is really helpful to support the franchise to fulfill its brand image, its marketing goals for its strong brand name which is really helpful to support franchise to meet its marketing goals. Franchise purposes, communication may break down geographically as well as the franchise, create a relationship. Communication between the franchises should be clear and consistent. There are several franchises have these communication processes channel to meet their goal and targets, they are as followings: Immediately return calls Internet websites A point person for each franchise vendor Franchise network conference-calls To keep records of every sale through advance system in store outlet First of all we have to known the idea of our franchise for the reason that it can be depend on the site location. The places where we are going to open are retail store should be on the desires part of street. It should be on the main street, in the reach of potential customers and there should be parking space as well. There are few things we have to keep in mind before opening a franchise and they are as followings : That place should be competitors opponents free Must have enough potential customers It is necessary to examine traffic patterns around that specified location Keep in mind that you should be able to afford the place for you which you are looking for Line of basic infrastructure around the area, sewerage, water supply, should be located on main road and electricity connections The store should be around any mall, market or any other big place TASK : 3 Franchising is more secure than your own start-up, does not mean that its risk-free and hence it is important that you research yourself well, franchise, franchisor and market. Once deciding about Bakers Delight franchising, one person is thinking about buying franchisees with franchisors in the next phase. The situation of the franchise should also be considered. A person should not only see the business in relation to his competitors but also evaluate the possibilities for the industry. Factors 1 2 3 4 5 Comment Range, availability ,and quality of product and services à ¢-  Bakers Delight provides wide range of product and all fresh that supports healthy life style. Ideas and intellectual property à ¢-  Bakers Delight offers high reputation brand name but only in two countries. Franchise area and territory rights à ¢-  Bakers Delight has owned 40 percent bakeries by franchisees with more than one site and not enough territorial right Distribution arrangements à ¢-  Bakers Delight began as a single bakery in Australia, and now has over 700 bakeries in four countries. Marketing and promotion support and requirements à ¢-  Bakers Delight provides moderate marketing support and promotions in Outlets as well. Royalty levels responsibility à ¢-  Bakers Delight has a very high royalty percentage of customers. Legal and regulatory requirements à ¢-  Bakers Delight is a quality business with best practice process and documentation around its franchise system. Training support à ¢-  It provides for Franchisee and Bakery staff development programs. This is also supported by off the job course and seminars. Operational support à ¢-  Operations it has specialist support staff across all four nations acting as a business resource with expertise across numerous fields. Administrative support à ¢-  Bakers Delight provides financial assistance including roistering and payroll systems, negotiating bakery public liability insurance. Pilot operation opportunities à ¢-  Brumby provides support and good procedures and systems, to assist in managing the business to success. Factors 1 2 3 4 5 Factor which we evaluate A à ¢-  Franchise purchase price and payment : franchise are more expensive to invest and pay the purchase cost is reasonable compared to other competitive franchise B à ¢-  Franchise purchase cost and payment : Bakers Delight is one of the bakeries known among business and franchise fees are very impressive for a new franchise. C