Analyzing Financial Statements

Analyzing Financial Statements Elizabeth Black HSM/260 October 16, 2011 Denise Lindley University of Phoenix Analyzing Financial Statements XYZ Corporation Years 2003/2004/2002 (Respectively Listed One Page after Another) 2003 Current Ratio| | | | | | | | | | | | | | | | | Current Ratio =| Current Assets| | $82,058. 00 | | | 0. 87| | | Current Liabilities| | $93,975. 00 | | | | | | | | | | | | | | | | | | | | | | Long-Term Solvency Ratio| | | | | | | | | | | | | | | | Long-Term Solvency Rate = | Total Assets| $359,863. 00 | | | 1. 39| | | | Total Liabilities| $259,979. 00 | | | | | | | | | | | | | | | | | | | | | Contribution Ratio| | | | | | | | | | | | | | | | | Contribution Ratio=| Largest Revenue Source| $632,889. 00 | | | 0. 51| | | Total Revenues| | $1,244,261. 00 | | | | | | | | | | | | | | | | | | | | | | Programs and Expense Ratio| | | | | | | | | | | | | | | | Programs/Expense Ratio= | Total Program Expenses| $865,692 | | 0. 66| | | | Total Expenses| | $1,316,681. 00| | | | | | | | | | | | | | | | | | | | | General and Management and Expense Ratio| | | | | | | | | | | | | | | | Total General and Management Expenses| $ 450,989| | 0. 4| | | Total Expenses| | | $1,316,681. 00 | | | | | | | | | | | | | | | | | | | | | Revenue and Expense Ratio| | | | | | | | | | | | | | | | Revenue/Expense ratio= | Total Revenues| | $1,244,261. 00 | | 0. 95| | | | Total Expenses| | $1,316,681. 00 | | | | | | | | | | | | Fund Raising/Expense Ratio| | | Total Fund-Raising Expenses| | | $79,888. 00| | . 06| (Note on this Page)Total Expenses $1,316,681. 00 (Please note), There is no category for fund raising expenses, so I took the figure in the â€Å"Other† column. 2004 Current Ratio| | | | | | | | | | | | | | | | Current Ratio =| Current Assets| | $302,902. 00 | | | 0. 90| | | Current Liabilities| | $337,033. 00 | | | | | | | | | | | | | | | | | | | | | | Long-Term Solvency Ratio| | | | | | | | | | | | | | | | Long-Term Solvency Rate = | Total Assets| $699,004. 00 | | | 2. 06| | | | Total Liabilities| $338,937. 00 | | | | | | | | | | | | | | | | | | | | | | Contribution Ratio| | | | | | | | | | | | | | | | | Contribution Ratio=| Largest Revenue Source| $1,078,837. 00 | | | 0. 51| | | Total Revenues| | $2,191,243. 00 | | | | | | | | | | | | | | | | | | | | | | Programs and Expense Ratio| | | | | | | | | | | | | | | | Programs/Expense Ratio= | Total Program Expenses| $1,410,312. 00 | | 0. 66| | | | Total Expenses| | $1,972,131. 00| | | | | | | | | | | | | | | | | | | | | General and Management and Expense Ratio| | | | | | | | | | | | | | | | Total General and Management Expenses| $ 561,818. 00| | . 29| | | Total Expenses| | | $1,972,131. 00| | | | | | | | | | | | | | | | | | | | | Revenue and Expense Ratio| | | | | | | | | | | | | | | | Revenue/Expense ratio= | Total Revenues| | $2,191,243. 00 | | 1. 11| | | | Total Expenses| | $1,972,131. 0 | | | | | | | | | | | | Fund Raising/Expense Ratio| | | Total Fund-Raising Expenses| | | $115,999. 00| | . 06| Total Expense $1,972,131. 00 2002 Current Ratio| | | | | | | | | | | | | | | | | Current Ratio =| Current Assets| | $104,296. 00 | | | 0. 75| | | Current Liabilities| | $139,017. 00 | | | | | | | | | | | | | | | | | | | | | | Long-Term Solvency Ratio| | | | | | | | | | | | | | | | Long-Term Sol vency Rate = | Total Assets| $391,270. 00 | | | 1. 26| | | | Total Liabilities| $310,246. 0 | | | | | | | | | | | | | | | | | | | | | | Contribution Ratio| | | | | | | | | | | | | | | | | Contribution Ratio=| Largest Revenue Source| $617,169. 00 | | | 0. 53| | | Total Revenues| | $1,165,065. 00 | | | | | | | | | | | | | | | | | | | | | | Programs and Expense Ratio| | | | | | | | | | | | | | | | Programs/Expense Ratio= | Total Program Expenses| $ 716,105. 20 | | 0. 6| | | | Total Expenses| | $1,185,008. 00 | | | | | | | | | | | | | | | | | | | | | General and Management and Expense Ratio| | | | | | | | | | | | | | | | Total General and Management Expenses| $ 468,903. 0 | | 0. 4| | | Total Expenses| | | $1,185,008. 00 | | | | | | | | | | | | | | | | | | | | | Revenue and Expense Ratio| | | | | | | | | | | | | | | | Revenue/Expense ratio= | Total Revenues| | $1,165,065. 00 | | 0. 98| | | | Total Expenses| | $1,185,008. 00 | | | | | | | | | | | | Fundraising /Expense Ratio| | | Total Fu ndraising Expense| | | $117,903. 00| | 0. 1| Total Expense $1,185,008. 00 Synopsis and Ratio Explanations It is very important for organizations to know how well they are doing financially when most efforts are being made to serve clients. It is easy to forget that pouring money into a problem will not fix it unless revenue flows continue or are increased and expenses are controlled. Some of the easiest computations can be made with information retrieved from balance sheets and income statements provided by accountants. Ratios such as the current ratio, long-term solvency ratio, contribution ratio, programs and expense ratio, general and management expense ratio, fund-raising and expense ratio, and revenue and expense ratio can provide a picture of where a company stands now compared to where it was in past years and what may need to be done in the future. The current ratio gives a picture of the liquidity of an agency; the amount of cash and other assets which can be easily accessed for use to pay expenses. The current ratio is expected to be over 1. 0; if it is less, the agency may have problems meeting its obligations. In this scenario, each year the ratio has shown that XYZ is getting closer to 1. 0; 2002 reflected . 75, while by 2004 it has increased to . 90. This means that while it still may make it difficult to pay obligations, the situation has gotten much better. The purpose of the long-term solvency ratio is to provide insight on how well an agency will be able to pay their annual expenses as they come due. The result of the ratio should be at least 1. 0, but the higher the number the better; if it is less than 1. 0, the viability or likelihood of existence is questionable. (Martin, 2001) In 2002, a figure of 1. 26 was acceptable, but in 2004 it has risen to 2. 06; this is a good figure and shows that the organization is improving in its financial planning and will more than likely remain viable. The contribution ratio is used to show to what extent an agency is dependent upon their main funding source. It is best for an organization to have their revenues spread through many sources rather than becoming dependent on only one or two which may or may not fund them in the future. If the figure calculated is above . 5, the agency is overly dependent on one source of revenue. XYZ Corporation needs to look for more sources of funding. Their contribution ratio is . 53 for 2002 and has remained stable in 2003 and 2004 at . 51. While their dependence has dropped a little bit, they are still working in the danger zone. The programs and expense ratio is based upon a standard set by the National Charities Information Bureau (NCIB). This agency provides the standards which show whether or not a program is making or not making the grade as far as how much of programs expenses are in comparison to overall expenses. It is expected that this ratio be a minimum of . 60. In 2002, XYZ Corporation produced a ratio of . 60; in 2003 and 2004, this number raised to . 66. The beginning figure is acceptable, but the rise in ratios for 2003 and 2004 is even better. The general and management xpense ratio identified how much money is spent on administration of the agency in comparison to the total expenses. If the calculated figure is greater than . 35, the organization should begin to cut the costs related to administration. XYZ Corporation has consistently brought their administrative costs down. Beginning in 2002 this organization had a . 40 ratio, which is unacceptable; then in 2004 a figure of . 29 which is wel l within acceptable range. The fund-raising expense ratio basically tells how much money is being spent related to the total expenses in order to raise revenues to be used by the agency. A ratio of over . 15 is a sign that more money is being spent than necessary to raise the funds needed by the agency; this means that less can be spent for essential services. In 2002, XYZ Corporation’s ratio was . 1, which is within acceptable limits; in 2003 and 2004, they reduce their amount still farther to . 60. While this rate is very good, it is important to be aware that cutting this ratio too close may actually limit the revenues of the agency; some money needs to be spent to identify and court some funding sources or those potential revenues may be lost. The revenue expense ratio is a very important figure in understanding where an organization stands. This ratio informs the reader whether the agency is making money, losing money, or breaking even. It gives a starting point for making decisions about whether a program should continue, if it should be re-evaluated, or if it should be discontinued. The financial management team should be held accountable to the figures they produce and be able to explain shortfalls or positive changes. The acceptable figure for this ratio is 1. 0 or greater. In 2002, this agency had a ratio of . 8, which is just below acceptable. Through hard work it appears that they have raised this number to 1. 11. This is a big change and shows that XYZ is working to make their organization more stable. Overall, based on these figures, this corporation is taking positive steps towards making their agency viable, effective, and efficient. All of their ratios reflect movement towards acceptable levels and if history predicts future behavior, they will continue to grow and be able to provide services for their clients without fear of insolvency. They do need to work on getting more grantors instead of having one major source of revenue, but even now they have increased to two major donors. This in itself is a major accomplishment. XYZ Corporation Fixed Costs, Variable Costs, and Break-even Point Comparison of Years 2002, 2003, and 2004 (respectively) 2002 Fixed Costs for 2002 in Expenses: Rent and Utilities| $150,000. 00 | Telephone| $24,000. 00 | Management and other| $351,000. 00 | Total Fixed Costs| $525,000. 00| Variable Costs for 2002 in Expenses: Other Expenses $117,903. 00 Payroll and benefits| $417,004. 00 | Supplies| $125,101. 20 | Total Variable Costs$660,008. 20 Rounded to $660,008. 00 Per Appendix D What is the BEP for the program since we see that they were in the red for the year? Total Fixed Costs = $525,000 Total Variable Costs = $660,008 Revenue per Customer = Total Revenue/Total Customers $1,165,065. 00/5962 = $ 195. 42 Variable Cost per Customer = $660,008/5962 = $110. 70 BEP = Total Fixed Costs/ (Revenue per Customer – Variable Costs per Customer) BEP = $525,000/($195. 42 – $110. 70) = $525,000/ $84. 72 = 6196. 88Rounded to 6197 2003 Fixed Costs Rent and Utilities $150,000 Telephone 24,000 Management and Other 371,101 $545,101 Variable Costs Payroll and Benefits $520,069 Supplies 171,623 (rounded up the $. 77) Other Expenses 79,888 $771,580 Break-Even Point Total Fixed Costs = $545,101 Total Variable Costs = $771,580 Revenue per Customer = Total Revenue/Total Customers $1,244,261. 00/6821 = $182. 42 Variable Cost per Customer = $771,580/6821 = $113. 12 BEP = Total Fixed Costs/ (Revenue per Customer – Variable Costs per Customer) BEP = $545,101/($182. 2-113. 12) = $545,101/ $69. 30 = 7866Rounded to 7,866 because there is no way to have a partial person and at 7865, we will not make break-even. 2004 Fixed Costs: Rent and Utilities $150,000 Telephone 24,000 Management and other 445,819 619,819 Variable Costs: Payroll and Benefits $915,787 (rounded down) Supplies 320,526 (rounded up) Other Expenses 115,999 $1,352,312 Total Fixed Costs = $619,819 Total Variable Costs = $1,352,312 Revenue per Customer = Total Revenue/Total Customers 2,191,243/11,822 = $185. 35 Variable Cost per Customer = $1,352,312/11822 = $114. 39 BEP = Total Fixed Costs/ (Revenue per Customer – Variable Costs per Customer) BEP = $619,819/($185. 35 – $114. 39) = $619,819/70. 96 = 8,735Rounded to 8,735 Budgeting There are three basic types of budgeting which apply to human service organizations; line item, performance, and program budgets. Deciding which method will be best for a given agency depends on what information they wish to retrieve and from perspective they wish to look at revenues and expenditures. By listing the advantages and disadvantages of each method, a inancial management professional or Executive Director may make the appropriate decision on which format to use. Line budgeting is the most utilized budgeting method because it simplifies how money is allocated and how well each program is controlling expenditures. (Martin, 2001) Because of its simplicity, employees, financial managers and laymen can readily identify key pieces of information. Financial control is the basic purpose for this type of budgeting. Line item budgets are easy to prepare, easy to justify and easy to understand. They provide specific information as to where money is allocated and for what purposes. There are two major disadvantages to line item budgeting; lack of relationship between the budget, objectives, and the outcome of the program. The second disadvantage is that there is no real way to estimate what the future holds; line item budgets are always based on historical data which may not properly reflect the current situation. The purpose of â€Å"performance budgeting is to relate agency expenses to programs by determining (a) a program output (or unit of service) performance measure, (b) the total program cost, and (c) the cost per output of service. (Martin, 2001) The advantages to this type of budget program are similar to program budgets; with the difference being the concentration of quantity over quality. Being able to know how much a particular output costs gives managers a real picture how much is being spent to provide client services. If adjustments need to be made, they can do so as the program advances or declines in services rendered. This method addresses no t only how a budget will be broken down for departments, but also the efficiency of what departments are meeting their budgetary goals while serving the most clients (based on how outcomes are represented). Fixed costs are added into the budget line items. A disadvantage of performance budgets are that while they do show how many clients are services and at what cost, they do not concern themselves with quality. If quality of service is not a concern then it shows people as numbers, rather than as important beings we are supposed to serve. The other major disadvantage is that calculations can be difficult and require more computer input than the basic line-item type budget. While many calculations can be done by hand, many also need more complex programs to provide appropriate data. Program budgets are concerned with an agency’s activities rather than its expenditures. The cost per outcome is the main concentration of the financial manager and gives information about the success or failure of the program. This is perhaps the best type of budgeting for agency’s that need to know whether they should continue, reorganize, or discontinue their program. The major advantages to this type of budgeting are that it is easier to evaluate programs since costs are tied to results, priorities may be changed quickly and with a minimal amount of work, and programs are broken down into smaller, more manageable budget units. This type of budget concentrates of effectiveness, not just efficiency. The disadvantage is that it is difficult to get all to agree what an acceptable outcome will be for budgetary purposes. The fact exists that if an outcome is only defined as a specific ending, major positive changes in a client’s case may be overlooked as not an outcome. Another disadvantage is that the analysis can be time consuming and difficult. To understand the data which is produced, most people would have to have an accounting background or someone who can explain the reports to them. Fund-Raising—Traditional versus Non-Traditional Organizations from everywhere are begging for funding to keep their programs going and expand services they can offer to their clients. Traditional sources such as government grants, private donor grants (individual or corporate), annual support mailings, and the United Way may offer some assistance, but the reality is that money is a limited commodity and all agencies need more of it. While each type of traditional funding may allow only certain types of programs or projects which target specific groups based on acceptance criteria, there are others that give general funding. The process to receive these funds may involve grant writing, volunteers to send out mailers, and liaisons with other agencies; paperwork and attention to detail are very important in attaining these types of funding. Non-traditional methods arise from much different styles and perspectives. While the â€Å"chunks† of money may be smaller, they do have benefits that more traditional methods offer. We all hate telemarketers, but how would we feel about children from our church calling about a pizza sale to benefit their summer program? The pizzas could be bought in bulk under a discount program that companies offer and then picked up at the church on a given day. Most would probably spend money to help people they know earn money for a good cause. A second non-traditional method of fund-raising is to community rummage sale. Most people have lots of good â€Å"stuff† that they think has value, but have little time or inclination to have a yard sale. By donating these goods to an organization to sell at a community rummage sale, individuals may be given a donation credit on their taxes, clean out their garages, and help the agency make much needed money. Funds that are raised in this manner are not paperwork intensive (in fact, other than writing up posters, there is none) and funds are not required to be spent on an identified program or project. Conclusion After reviewing the financial documents and ratios of XYZ Corporation, it is clear that they are making solid business decision in how their money is spent and how revenue is raised. Most calculations show that their situation has improved since the initial reports of 2002. If history is any indicator of what will follow in the future, they should be able to sustain their growth and perhaps even expand. They have increased the number of clients served while at the same time keeping their budget under control. The only area that really needs improvement is the revenue dependency aspect of their budget. Being too dependent on one funder can spell disaster for any organization. XYZ has made headway in this department by getting the majority of their funds from two agencies instead of just one, but it would serve them to continue to diversify their revenue sources. Hopefully, this corporation will continue to provide quality services to their clientele far into the future and continue to remain solvent. References Martin, L. (2001). Financial management for human service administrators. Needham Heights, MA: Allyn & Bacon. Analyzing Financial Statements Analyzing Financial Statements Elizabeth Black HSM/260 October 16, 2011 Denise Lindley University of Phoenix Analyzing Financial Statements XYZ Corporation Years 2003/2004/2002 (Respectively Listed One Page after Another) 2003 Current Ratio| | | | | | | | | | | | | | | | | Current Ratio =| Current Assets| | $82,058. 00 | | | 0. 87| | | Current Liabilities| | $93,975. 00 | | | | | | | | | | | | | | | | | | | | | | Long-Term Solvency Ratio| | | | | | | | | | | | | | | | Long-Term Solvency Rate = | Total Assets| $359,863. 00 | | | 1. 39| | | | Total Liabilities| $259,979. 00 | | | | | | | | | | | | | | | | | | | | | Contribution Ratio| | | | | | | | | | | | | | | | | Contribution Ratio=| Largest Revenue Source| $632,889. 00 | | | 0. 51| | | Total Revenues| | $1,244,261. 00 | | | | | | | | | | | | | | | | | | | | | | Programs and Expense Ratio| | | | | | | | | | | | | | | | Programs/Expense Ratio= | Total Program Expenses| $865,692 | | 0. 66| | | | Total Expenses| | $1,316,681. 00| | | | | | | | | | | | | | | | | | | | | General and Management and Expense Ratio| | | | | | | | | | | | | | | | Total General and Management Expenses| $ 450,989| | 0. 4| | | Total Expenses| | | $1,316,681. 00 | | | | | | | | | | | | | | | | | | | | | Revenue and Expense Ratio| | | | | | | | | | | | | | | | Revenue/Expense ratio= | Total Revenues| | $1,244,261. 00 | | 0. 95| | | | Total Expenses| | $1,316,681. 00 | | | | | | | | | | | | Fund Raising/Expense Ratio| | | Total Fund-Raising Expenses| | | $79,888. 00| | . 06| (Note on this Page)Total Expenses $1,316,681. 00 (Please note), There is no category for fund raising expenses, so I took the figure in the â€Å"Other† column. 2004 Current Ratio| | | | | | | | | | | | | | | | Current Ratio =| Current Assets| | $302,902. 00 | | | 0. 90| | | Current Liabilities| | $337,033. 00 | | | | | | | | | | | | | | | | | | | | | | Long-Term Solvency Ratio| | | | | | | | | | | | | | | | Long-Term Solvency Rate = | Total Assets| $699,004. 00 | | | 2. 06| | | | Total Liabilities| $338,937. 00 | | | | | | | | | | | | | | | | | | | | | | Contribution Ratio| | | | | | | | | | | | | | | | | Contribution Ratio=| Largest Revenue Source| $1,078,837. 00 | | | 0. 51| | | Total Revenues| | $2,191,243. 00 | | | | | | | | | | | | | | | | | | | | | | Programs and Expense Ratio| | | | | | | | | | | | | | | | Programs/Expense Ratio= | Total Program Expenses| $1,410,312. 00 | | 0. 66| | | | Total Expenses| | $1,972,131. 00| | | | | | | | | | | | | | | | | | | | | General and Management and Expense Ratio| | | | | | | | | | | | | | | | Total General and Management Expenses| $ 561,818. 00| | . 29| | | Total Expenses| | | $1,972,131. 00| | | | | | | | | | | | | | | | | | | | | Revenue and Expense Ratio| | | | | | | | | | | | | | | | Revenue/Expense ratio= | Total Revenues| | $2,191,243. 00 | | 1. 11| | | | Total Expenses| | $1,972,131. 0 | | | | | | | | | | | | Fund Raising/Expense Ratio| | | Total Fund-Raising Expenses| | | $115,999. 00| | . 06| Total Expense $1,972,131. 00 2002 Current Ratio| | | | | | | | | | | | | | | | | Current Ratio =| Current Assets| | $104,296. 00 | | | 0. 75| | | Current Liabilities| | $139,017. 00 | | | | | | | | | | | | | | | | | | | | | | Long-Term Solvency Ratio| | | | | | | | | | | | | | | | Long-Term Sol vency Rate = | Total Assets| $391,270. 00 | | | 1. 26| | | | Total Liabilities| $310,246. 0 | | | | | | | | | | | | | | | | | | | | | | Contribution Ratio| | | | | | | | | | | | | | | | | Contribution Ratio=| Largest Revenue Source| $617,169. 00 | | | 0. 53| | | Total Revenues| | $1,165,065. 00 | | | | | | | | | | | | | | | | | | | | | | Programs and Expense Ratio| | | | | | | | | | | | | | | | Programs/Expense Ratio= | Total Program Expenses| $ 716,105. 20 | | 0. 6| | | | Total Expenses| | $1,185,008. 00 | | | | | | | | | | | | | | | | | | | | | General and Management and Expense Ratio| | | | | | | | | | | | | | | | Total General and Management Expenses| $ 468,903. 0 | | 0. 4| | | Total Expenses| | | $1,185,008. 00 | | | | | | | | | | | | | | | | | | | | | Revenue and Expense Ratio| | | | | | | | | | | | | | | | Revenue/Expense ratio= | Total Revenues| | $1,165,065. 00 | | 0. 98| | | | Total Expenses| | $1,185,008. 00 | | | | | | | | | | | | Fundraising /Expense Ratio| | | Total Fu ndraising Expense| | | $117,903. 00| | 0. 1| Total Expense $1,185,008. 00 Synopsis and Ratio Explanations It is very important for organizations to know how well they are doing financially when most efforts are being made to serve clients. It is easy to forget that pouring money into a problem will not fix it unless revenue flows continue or are increased and expenses are controlled. Some of the easiest computations can be made with information retrieved from balance sheets and income statements provided by accountants. Ratios such as the current ratio, long-term solvency ratio, contribution ratio, programs and expense ratio, general and management expense ratio, fund-raising and expense ratio, and revenue and expense ratio can provide a picture of where a company stands now compared to where it was in past years and what may need to be done in the future. The current ratio gives a picture of the liquidity of an agency; the amount of cash and other assets which can be easily accessed for use to pay expenses. The current ratio is expected to be over 1. 0; if it is less, the agency may have problems meeting its obligations. In this scenario, each year the ratio has shown that XYZ is getting closer to 1. 0; 2002 reflected . 75, while by 2004 it has increased to . 90. This means that while it still may make it difficult to pay obligations, the situation has gotten much better. The purpose of the long-term solvency ratio is to provide insight on how well an agency will be able to pay their annual expenses as they come due. The result of the ratio should be at least 1. 0, but the higher the number the better; if it is less than 1. 0, the viability or likelihood of existence is questionable. (Martin, 2001) In 2002, a figure of 1. 26 was acceptable, but in 2004 it has risen to 2. 06; this is a good figure and shows that the organization is improving in its financial planning and will more than likely remain viable. The contribution ratio is used to show to what extent an agency is dependent upon their main funding source. It is best for an organization to have their revenues spread through many sources rather than becoming dependent on only one or two which may or may not fund them in the future. If the figure calculated is above . 5, the agency is overly dependent on one source of revenue. XYZ Corporation needs to look for more sources of funding. Their contribution ratio is . 53 for 2002 and has remained stable in 2003 and 2004 at . 51. While their dependence has dropped a little bit, they are still working in the danger zone. The programs and expense ratio is based upon a standard set by the National Charities Information Bureau (NCIB). This agency provides the standards which show whether or not a program is making or not making the grade as far as how much of programs expenses are in comparison to overall expenses. It is expected that this ratio be a minimum of . 60. In 2002, XYZ Corporation produced a ratio of . 60; in 2003 and 2004, this number raised to . 66. The beginning figure is acceptable, but the rise in ratios for 2003 and 2004 is even better. The general and management xpense ratio identified how much money is spent on administration of the agency in comparison to the total expenses. If the calculated figure is greater than . 35, the organization should begin to cut the costs related to administration. XYZ Corporation has consistently brought their administrative costs down. Beginning in 2002 this organization had a . 40 ratio, which is unacceptable; then in 2004 a figure of . 29 which is wel l within acceptable range. The fund-raising expense ratio basically tells how much money is being spent related to the total expenses in order to raise revenues to be used by the agency. A ratio of over . 15 is a sign that more money is being spent than necessary to raise the funds needed by the agency; this means that less can be spent for essential services. In 2002, XYZ Corporation’s ratio was . 1, which is within acceptable limits; in 2003 and 2004, they reduce their amount still farther to . 60. While this rate is very good, it is important to be aware that cutting this ratio too close may actually limit the revenues of the agency; some money needs to be spent to identify and court some funding sources or those potential revenues may be lost. The revenue expense ratio is a very important figure in understanding where an organization stands. This ratio informs the reader whether the agency is making money, losing money, or breaking even. It gives a starting point for making decisions about whether a program should continue, if it should be re-evaluated, or if it should be discontinued. The financial management team should be held accountable to the figures they produce and be able to explain shortfalls or positive changes. The acceptable figure for this ratio is 1. 0 or greater. In 2002, this agency had a ratio of . 8, which is just below acceptable. Through hard work it appears that they have raised this number to 1. 11. This is a big change and shows that XYZ is working to make their organization more stable. Overall, based on these figures, this corporation is taking positive steps towards making their agency viable, effective, and efficient. All of their ratios reflect movement towards acceptable levels and if history predicts future behavior, they will continue to grow and be able to provide services for their clients without fear of insolvency. They do need to work on getting more grantors instead of having one major source of revenue, but even now they have increased to two major donors. This in itself is a major accomplishment. XYZ Corporation Fixed Costs, Variable Costs, and Break-even Point Comparison of Years 2002, 2003, and 2004 (respectively) 2002 Fixed Costs for 2002 in Expenses: Rent and Utilities| $150,000. 00 | Telephone| $24,000. 00 | Management and other| $351,000. 00 | Total Fixed Costs| $525,000. 00| Variable Costs for 2002 in Expenses: Other Expenses $117,903. 00 Payroll and benefits| $417,004. 00 | Supplies| $125,101. 20 | Total Variable Costs$660,008. 20 Rounded to $660,008. 00 Per Appendix D What is the BEP for the program since we see that they were in the red for the year? Total Fixed Costs = $525,000 Total Variable Costs = $660,008 Revenue per Customer = Total Revenue/Total Customers $1,165,065. 00/5962 = $ 195. 42 Variable Cost per Customer = $660,008/5962 = $110. 70 BEP = Total Fixed Costs/ (Revenue per Customer – Variable Costs per Customer) BEP = $525,000/($195. 42 – $110. 70) = $525,000/ $84. 72 = 6196. 88Rounded to 6197 2003 Fixed Costs Rent and Utilities $150,000 Telephone 24,000 Management and Other 371,101 $545,101 Variable Costs Payroll and Benefits $520,069 Supplies 171,623 (rounded up the $. 77) Other Expenses 79,888 $771,580 Break-Even Point Total Fixed Costs = $545,101 Total Variable Costs = $771,580 Revenue per Customer = Total Revenue/Total Customers $1,244,261. 00/6821 = $182. 42 Variable Cost per Customer = $771,580/6821 = $113. 12 BEP = Total Fixed Costs/ (Revenue per Customer – Variable Costs per Customer) BEP = $545,101/($182. 2-113. 12) = $545,101/ $69. 30 = 7866Rounded to 7,866 because there is no way to have a partial person and at 7865, we will not make break-even. 2004 Fixed Costs: Rent and Utilities $150,000 Telephone 24,000 Management and other 445,819 619,819 Variable Costs: Payroll and Benefits $915,787 (rounded down) Supplies 320,526 (rounded up) Other Expenses 115,999 $1,352,312 Total Fixed Costs = $619,819 Total Variable Costs = $1,352,312 Revenue per Customer = Total Revenue/Total Customers 2,191,243/11,822 = $185. 35 Variable Cost per Customer = $1,352,312/11822 = $114. 39 BEP = Total Fixed Costs/ (Revenue per Customer – Variable Costs per Customer) BEP = $619,819/($185. 35 – $114. 39) = $619,819/70. 96 = 8,735Rounded to 8,735 Budgeting There are three basic types of budgeting which apply to human service organizations; line item, performance, and program budgets. Deciding which method will be best for a given agency depends on what information they wish to retrieve and from perspective they wish to look at revenues and expenditures. By listing the advantages and disadvantages of each method, a inancial management professional or Executive Director may make the appropriate decision on which format to use. Line budgeting is the most utilized budgeting method because it simplifies how money is allocated and how well each program is controlling expenditures. (Martin, 2001) Because of its simplicity, employees, financial managers and laymen can readily identify key pieces of information. Financial control is the basic purpose for this type of budgeting. Line item budgets are easy to prepare, easy to justify and easy to understand. They provide specific information as to where money is allocated and for what purposes. There are two major disadvantages to line item budgeting; lack of relationship between the budget, objectives, and the outcome of the program. The second disadvantage is that there is no real way to estimate what the future holds; line item budgets are always based on historical data which may not properly reflect the current situation. The purpose of â€Å"performance budgeting is to relate agency expenses to programs by determining (a) a program output (or unit of service) performance measure, (b) the total program cost, and (c) the cost per output of service. (Martin, 2001) The advantages to this type of budget program are similar to program budgets; with the difference being the concentration of quantity over quality. Being able to know how much a particular output costs gives managers a real picture how much is being spent to provide client services. If adjustments need to be made, they can do so as the program advances or declines in services rendered. This method addresses no t only how a budget will be broken down for departments, but also the efficiency of what departments are meeting their budgetary goals while serving the most clients (based on how outcomes are represented). Fixed costs are added into the budget line items. A disadvantage of performance budgets are that while they do show how many clients are services and at what cost, they do not concern themselves with quality. If quality of service is not a concern then it shows people as numbers, rather than as important beings we are supposed to serve. The other major disadvantage is that calculations can be difficult and require more computer input than the basic line-item type budget. While many calculations can be done by hand, many also need more complex programs to provide appropriate data. Program budgets are concerned with an agency’s activities rather than its expenditures. The cost per outcome is the main concentration of the financial manager and gives information about the success or failure of the program. This is perhaps the best type of budgeting for agency’s that need to know whether they should continue, reorganize, or discontinue their program. The major advantages to this type of budgeting are that it is easier to evaluate programs since costs are tied to results, priorities may be changed quickly and with a minimal amount of work, and programs are broken down into smaller, more manageable budget units. This type of budget concentrates of effectiveness, not just efficiency. The disadvantage is that it is difficult to get all to agree what an acceptable outcome will be for budgetary purposes. The fact exists that if an outcome is only defined as a specific ending, major positive changes in a client’s case may be overlooked as not an outcome. Another disadvantage is that the analysis can be time consuming and difficult. To understand the data which is produced, most people would have to have an accounting background or someone who can explain the reports to them. Fund-Raising—Traditional versus Non-Traditional Organizations from everywhere are begging for funding to keep their programs going and expand services they can offer to their clients. Traditional sources such as government grants, private donor grants (individual or corporate), annual support mailings, and the United Way may offer some assistance, but the reality is that money is a limited commodity and all agencies need more of it. While each type of traditional funding may allow only certain types of programs or projects which target specific groups based on acceptance criteria, there are others that give general funding. The process to receive these funds may involve grant writing, volunteers to send out mailers, and liaisons with other agencies; paperwork and attention to detail are very important in attaining these types of funding. Non-traditional methods arise from much different styles and perspectives. While the â€Å"chunks† of money may be smaller, they do have benefits that more traditional methods offer. We all hate telemarketers, but how would we feel about children from our church calling about a pizza sale to benefit their summer program? The pizzas could be bought in bulk under a discount program that companies offer and then picked up at the church on a given day. Most would probably spend money to help people they know earn money for a good cause. A second non-traditional method of fund-raising is to community rummage sale. Most people have lots of good â€Å"stuff† that they think has value, but have little time or inclination to have a yard sale. By donating these goods to an organization to sell at a community rummage sale, individuals may be given a donation credit on their taxes, clean out their garages, and help the agency make much needed money. Funds that are raised in this manner are not paperwork intensive (in fact, other than writing up posters, there is none) and funds are not required to be spent on an identified program or project. Conclusion After reviewing the financial documents and ratios of XYZ Corporation, it is clear that they are making solid business decision in how their money is spent and how revenue is raised. Most calculations show that their situation has improved since the initial reports of 2002. If history is any indicator of what will follow in the future, they should be able to sustain their growth and perhaps even expand. They have increased the number of clients served while at the same time keeping their budget under control. The only area that really needs improvement is the revenue dependency aspect of their budget. Being too dependent on one funder can spell disaster for any organization. XYZ has made headway in this department by getting the majority of their funds from two agencies instead of just one, but it would serve them to continue to diversify their revenue sources. Hopefully, this corporation will continue to provide quality services to their clientele far into the future and continue to remain solvent. References Martin, L. (2001). Financial management for human service administrators. Needham Heights, MA: Allyn & Bacon.

Business Research Method – Banking Questionaire

RESEARCH QUESTIONNAIRE AN ANALYSIS OF HOW BUSINESS CAN USE INFORMATION TECHNOLOGY (IT) TO GAIN COMPETITIVE ADVANTAGE: THE CASE OF COMMERCIAL BANKS IN ZIMBABWE. SECTION A: RESPONDENT AND BANK PROFILES a) Respondent’s Profile Position in the organisation Please tick where applicable |Clerical | | |Supervisory | | |Managerial | | |Executive | | Length of Service with the Institution Please tick where applicable |1 – 5 years | | |6 – 10 years | | |11 – 16 years | | |16 – 20 years | | |More than 20 years | | |Highest Qualification | |Please tick where applicable | |Certificate | | |Diploma | | Degree | | |Postgraduate | | |PhD | | How long have you been exposed to use of computers? Please tick where applicable |1 – 5 Years | | |6 – 10 Years | | |11 – 15 Years | | |16 – 20 Years | | |More than 20 Years | | ) Bank Profile Bank Name________________________________________ Number of Branches_____________________________________ |Number of Employees | | |Please tick where applicable | | |1 – 100 | | |101 – 200 | | |201 – 300 | | |301 – 400 | | |More than 400 | | Clientele Base (i) Corporate Clients Please tick where applicable |1 – 500 | | |501 – 1 000 | | |1 001 – 1 500 | | |1 501 – 2 000 | | |More than 2 000 | | (ii)Individual Clients Please tick where applicable 1 – 10 000 | | |10 001 – 20 000 | | |20 001 – 30 000 | | |30 001 – 40 000 | | |More than 40 000 | | SECTION B: LEVEL OF AUTOMATION IN THE BANK (a)IT Systems i) Core Banking System |Type of Core Banking System | |Please tick where applicable | | |Globus | | |Equation | | |Bank Master | | |Equinox | | |Flexicube | | |Other (Specify) | | |__________________________________________ | | Year Core Banking System was Introduced †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ (ii) Enterprise Resource Planning System Please tick modules used | | |Finance | | |Human resources | | |Inventory management | | |Customer relationship management | | |Business intelligence | | |Other (specify) | | |______________________________________ ____ | | (b)Delivery Channels i) Teller Transactions |Transactions per month | | |Please tick where applicable | | |0 – 50 000 | | |50 001 – 100 000 | | |100 001 – 150 000 | | |150 001 – 200 000 | | |More than 200 000 | | ii) Electronic Transactions a) Use of Credit or Debit Cards |YES |NO | |ATMs (Please tick where applicable) | | | |Transactions per month | | |Please tick where applicable | | |0 – 5 000 | | |5 001 – 10 000 | | |10 001 – 15 000 | | |15 001 – 20 000 | | |More than 20 000 | | |YES |NO | |Internet banking (Please tick where applicable) | | | |Transactions per month | | |Please tick where applicable | | |0 – 5 000 | | |5 001 – 10 000 | | |10 001 – 15 000 | | |15 001 – 20 000 | | |More than 20 000 | | |YES |NO | |Point of Sale (Please tick where applicable) | | | |Transactions per month | | |Please tick where applicable | | |0 – 5 000 | | |5 001 – 10 000 | | |10 001 à ¢â‚¬â€œ 15 000 | | |15 001 – 20 000 | | |More than 20 000 | | b) Electronic Funds Transfer |YES |NO | |Internal Transfers | | | |Please tick where applicable | | | |Transactions per month | | |Please tick where applicable | | |0 – 10 000 | | |10 001 – 20 000 | | |20 001 – 30 000 | | |30 001 – 40 000 | | |More than 40 000 | | |YES |NO | |Real Time Gross Settlement System (RTGS) (Please tick| | | |where applicable) | | | |Transactions per month | | |Please tick where applicable | | |0 – 5 000 | | |5 001 – 10 000 | | |10 001 – 15 000 | | |15 001 – 20 000 | | |More than 20 000 | | |YES |NO | |Society for Worldwide Interbank | | | |Funds Transfer (SWIFT) | | | |(Please tick where applicable) | | | |Transactions per month | | |Please tick where applicable | | |0 – 5 000 | | |5 001 – 10 000 | | |10 001 – 15 000 | | |15 001 – 20 000 | | |More than 20 000 | | SECTION C : BENEFITS AND CHALLENGES a) BENEFITS Please tick where applicable. | |5 |4 |3 |2 |1 | | | |Strongly Agree |Agree |Indifferent |Disagree |Strongly | | | | | | | |Disagree | |1 |Profitability | | | | | | |2 |Increase in market share | | | | | | |3 |Increase in revenue | | | | | | |4 |Reduction in labour costs | | | | | | |5 |Reduction in transaction costs | | | | | | |6 |Improved risk management | | | | | | |7 |Speed in service delivery | | | | | | |8 | Increase in Customer satisfaction | | | | | | b) CHALLENGES Please tick where applicable. | |5 |4 |3 |2 |1 | | | |Very High |High |Moderate |Low |Very Low | |1 |Operating costs | | | | | | |2 |Transaction turnaround time | | | | | | |3 |Risks | | | | | | SECTION D: COMPETITIVE ADVANTAGE BROUGHT ABOUT BY I. T. IN BANKING Please tick where applicable. | |5 |4 |3 |2 |1 | | |IT helps in: |Strongly Agree |Agree |Indifferent |Disagree |Strongly | | | | | | | |Disagree | |1 |Lowering costs | | | | | | |2 |Product differentiation | | | | | | |3 |Innovation | | | | | | | 4 |Promoting growth (e. g. evenue) | | | | | | |5 |Developing business partners | | | | | | |6 |Locking in customers and suppliers | | | | | | |7 |Creating switching costs | | | | | | |8 |Raising barriers to entry | | | | | | 9 |Customer Relationship Management | | | | | | |10 |Re-engineering business processes | | | | | | |11 |Quality control | | | | | | Thank you very much for taking your time to complete this questionnaire. The information you have provided will be treated in strict confidentiality. NB: Company details will not be included in the report. Fictitious names will be used.

Modern Day Church’s View of Suicide as Opposed to Islamic Views Essay

Suicide, the foreknowledge that a person’s death will result from self caused actions, has reached epic proportions in recent decades. The World Health Organization states â€Å"more people are dying from suicide than from all the armed conflicts around the world. † (Donnelly, 106). This practice presents an ethical dilemma that is ultimately a matter of values and how they are reasoned. Religion provides a framework through which these views can be expressed. It is especially important to understand the Christian and Islamic perspectives on suicide by tracing their primary texts and traditions. The Biblical View of Suicide As the primary text of Christianity, the Bible has a code of moral instructions, spanning from the Ten Commandments in the Old Testament to the Sermon on the Mount and the great commandments in the New Testament. What gives moral values such as love and human dignity, and the commandment â€Å"thou shalt not kill† such compelling force is more than the forbidding of murder, even self-murder. These precepts reveal the obligation to demonstrate practical respect for the value of human life (Mahohel, 2). Although there are several suicides mentioned in the Bible: Saul(1 Samuel. 31:4); Ahitophel(2 Samuel 17:23);Zimri (1 Kings 16:18); and Judas (Matthew 27:5), the Bible doesn’t specifically condemn suicides. However, it does condemn murder in the 6th commandment and that is what suicide is: self-murder. A Christian who commits suicide will not lose salvation and end up in hell because John 3:16 demonstrates that a person is eternally secure. Romans 8:38-39 says that no circumstance can block God’s love to Christians. Therefore, if no created thing can separate a Christian from God’s love, then a Christian who commits suicide is a created thing and not even suicide can prevent God’s love. Jesus died for all sin. If an authentic Christian were to commit that sin, Jesus died for it. Nevertheless, it is self-murder and constitutes a serious sin against God (Stewart, p. 31). Suicide in the Christian Tradition The Christian tradition repects life. Although the early Church issued few official dictums against suicide, the prevalent viewheld that suicide was seen as murder and sometimes worse. In the 4th century, Augustine was the first to make that prohibition absolute, denouncing it as a â€Å"detestable and damnable wickedness,’† (Stewart, 34) echoing the other church fathers such as Tertullian, Justin Cyprian, Clement of Alexandria, and Lactantius who all rejected suicide. John of Chryostom issued a statement that posited if it were base to destroy others, it was much worse to destroy oneself(Amundsen, 98). Although Christian leaders praised martyrs who held onto their faith even unto death, they criticized those who rushed too eagerly to a martyr’s death. The goal of martyrdom was to remain faithful, not to intend one’s death (Ibid, 109-111). Aquinas and the medieval Church expressly prohibited acts of suicide. In his Encyclical Letter (March 25, 1995) Pope John Paul II states: â€Å"The Church’s tradition has always rejected suicide as a gravely evil choice. † The present day Church still adheres to that perspective because of two predominant frameworks. The first says that man and woman are created in the image of God, â€Å"Imago Deo,† (Genesis 3:26) and as such, share in the Divine likeness. Thus, humans participate in dominion over the rest of the physical creation, commissioned to exercise active stewardship and initiative as God’s vice-regent. Not only are humans God’s creation, they are His property, defined by such terms as potter-clay and shepherd-sheep. Since life belong to God, it is wrong to take it. Additionally, there is a Christian perspective which states that life is a gift from God. The ultimate moral foundations of Christian doctrine: creation, sin, salvation and fulfillment reinforce this view. The decision to die is God’s alone (Stewart, 33). The case versus suicide states requires that God’s gift of life is not an outright gift, but a restricted one, and humans are not to consume or destroy it at their discretion. In this perspective God will demand a full account for determining when to choose to end life. The suicide equivocally tells God that He will simply have to take the deeds performed in the body instead of regarding life as a trust, by not abandoning it, or denying that God is worthy. The choice of suicide seems to violate the duty to live life in a way which indicates gratitude towards what has been given ( Camenish, 216). Since God is transcendent, ultimately all things, even suffering will be made well. The Qu’rannic View of Suicide The Qu’ran expressly prohibits suicide, regarding all life as sacred. The sanctity of human life is accorded a special place. The Qu’ran states that the first and foremost basic life of a human being is the right t Take not life, which God has made sacred, except by way of justice and law; thus doth He command you, that you may learn wisdom (Qu’ran 6:151) Additionally, the Qu’ran states: If anyone slew a person, unless it be for murder, or for spreading mischief in the whole land, it would be as if he slew the whole people-and if any one saved a life, it would be as if he saved the life of a whole people. (Qu’ran 5:32) Thus, the Qu’ran is totally clear where it stands on the taking of life. The Islamic Tradition and the View of Suicide In light of the Qu’rannic perspective of respect for human life, how then did the popularity of suicide bombers come to pass? Blowing oneself up and frequently killing innocent victims in such a terrorist manner absolutely refutes the Qu’ran. Yet a religious perspective can supersede the traditional perspective. This religious perspective is jihad, or the call to a holy war, first issued by the founder of Islam, the prophet Mohhammed. Mohhammed received a â€Å"naskh,† a new revelation which replaced the previous ones in the Qu’ran. Surah 9:5 cancels all previous revelations, admonishing his adherents to practice war and coercion to the present day. Basically Surah 9: 5 posits that Muslims must fight anyone who chooses not to convert to Islam. Because Islam is a religion of works, the jihad is a great duty and honor that aims to convert the infidel by force. Jihad is behind every suicidal terrorist who commits these acts in the name of Islam. If doesn’t matter if they win or if they die in the jihad, because they will be successful regardless: if they win, they receive victory; if they die, they are honored by God. Modern jihad came from Sayib Qutb, born in 1906, who visited the U. S. and saw that the Americans were not totally devoted to religion and that the American Muslims also had a lack of conviction. He started the radical Islamic movement that reverberates to this day. Bin Laden and Al Qaida learned their suicidal techniques form the movement of jihad in Iran, Eygpt and Sudan (Gabriel, 1). In Ha’aretz newspaper (December 9, 2001) Sheik Akramek Sabri said that sucide bombers are justified and should be encouraged, critizing other religious leaders who issued an Islamic ruling (fatwa) against suicide attacks. The sheik of the Mosque of Cairo ruled that Islamic law does not condone suicide attacks against innocent victims. A prominent mufti in Saudi Arabia issued a similar opinion. However, Omar Rahman, leader of al Jihad and the mastermind behind the World Trade Center bombing of 1993, noted that jihad and killing are the head of Islam and that if they are taken out, so is the head . By following the philosophy of submission, a Muslim is one who submits to Allah, the suicide attacker appears to be around for a long time(Ibid, December 9,2001). Overview Although both Christianity and Islam’s official positions prohibit suicide, the present day outcomes differ. While the Bible has the sixth commandment and other verses and the Qu’ran has 5:32 and 6:151 which respect life, Christianity remains consistent through the ages in viewing suicide as negative. For Christians, life is a gift and thus humans are God‘s property. Islam , however, has further revelations which supersede the previous ones found in the Qu’ran. These additional revelations include a call to jihad or holy war, thus making self-killing permissible and even honored. Conclusion It is necessary to study the frameworks of both Christianity and Islam to obtain more than a superficial view of their perspectives of suicide. Although Church tradition doesn’t change it’s position of self killing in Christianity, as shown by the early church fathers calling it an abomination and stating that killing oneself is even worse than killing others down to the later medieval church and Aquinas stating that it is unnatural ; thus forbidding the taking of one’s own life. Pope John Paul II’s encyclical letter states that suicide is a â€Å"wicked sin,â€Å" holding life sacred and as a trust. Current church traditions, while not as harsh and proclaiming true Christian suicides will go to heaven, nevertheless compare Christians with God as a figure of authority. He is the owner of the Christian, their creator and the potter who molds the clay, the shepherd who guides the sheep. Additionally, God has given all humans the gift of life, which is to be regarded as a sacred trust and not to be tampered with through the early taking of it. Only God, and God alone, can determine when life is over. If a Christian takes their life prematurely, they are robbing God, telling Him He must be satisfied with only the works they have performed to that stage. Since Christianity has at its heart the major doctrines of creation, sin, salvation and fulfillment, nothing can separate the Christian from God, either in this world or the world to come. God is both immanent and transcendent and He will make all things ultimately turn out for the best, thus reassuring the Christian to hang on and not commit suicide. On the other hand, official Islam proclaims one message while practicing another. The Qu’ran states that all life is sacred and that all humans have dignity. Several verses refer to this fact. However, even though Mohammed wrote these verses down, he also wrote additional verses that failed to be consistent with the original message. These verses , which he wrote after an added revelation, replace the earlier ones of respect for one’s own and other life. Through these additional revelations, Mohammed thus started the concept of jihad, or holy war. Using this concept he encouraged fellow Muslims, who are followers of Allah, and must submit to His teachings, to commit these holy wars, to convert or kill the infidel regardless of whether one’s own life was lost in the process. From the early 20th century, when Muslims visited the U. S. and saw what they perceived as less than perfect devotion, the jihad was operating at full force. Although present day sheiks and muftis in several countries have issued fatwa against suicide bombers and the taking of innocent life, suicidal terrorists continue, thinking that they are honoring Allah and their cause by killing themselves and others. References Amundsen, C. (1967). Medicine, Society and Faith in the Ancient World. Baltimore: John Hopkins. Cavadini,B. (1999). â€Å"By the Renewing of Your Minds,† Theological Studies, Vol. 60.Camemish, P. (1998). â€Å"Suicide,† Journal of Religious Ethics,17, no 1, Spring. Donnelly, J. (1998) Suicide: Right or Wrong. Amherst, NY: Prometheus Books. Gabriel, M. (2005)â€Å"Islamic Terrorists,† CNN Fact File, Virginia Beach, Va. Mahohel, J. (2003). â€Å"Christian Doctrines and Ethical Issues,† Theological Studies, vol. 64 Neusner, J. (2000) Jewish and Christian Doctrine. London: Routledge. Pope John Paul II. (1995),†Encyclical Letter,† Evangelium Vitae. March 25. â€Å"Terrorism,† (2001). Ha’aretz newspaper, December 9. Smith, G. (2005). â€Å"The Insurgent Word: Suicide. † Swans Commentary, September 12.

Marketing of Sushi Research Paper Example | Topics and Well Written Essays - 3000 words

Marketing of Sushi - Research Paper Example 3. The current marketing strategy of your company enables the company to understand and reach out to the needs of its customers. 5 4 3 2 1 4. The current marketing strategy contributes to the company in terms of customer satisfaction and sales increase. 5 4 3 2 1 5. In general, the marketing style of my company is excellent. 5 4 3 2 1 Part 5 Presentation of Data Perceptions Regarding the campaign Quality improves: No. of Respondents who agree Service design customer Satisfaction Increased Competitive Advantage Increased market share Reduced customer complaints Customer loyalty Cost 30 15 30 30 2230 10 Rated most important factors for a company (among other factors given) Cost Scope Time (schedule) Quality of sushi Safety 5 2 320 2 Company's perception of quality Elimination of defects A tool to increase profits A competitive advantage 4 12 14 2. This study will use quantitative research, which uses explanatory methods in describing the variables wherein the data, situations, or other facts collected will be explained... 2. This study will use quantitative research, which uses explanatory methods in describing the variables wherein the data, situations, or other facts collected will be explained or correlated with other data. It is especially useful when conducting a study wherein the data are immeasurable, such as feelings, beliefs, thoughts, and others (Mays & Pope, 2000). Furthermore, the study will be descriptive as it will focus on the conditions set and the nature that surrounds the data and does not focus on the correlation with other collected facts. In order to come up with the most suitable research approaches and strategies for this study, the research process "onion" is used. This is because conducting a research is like peeling the back layers of an onion-in order to come to the central issue of how to collect the necessary data needed to answer the research questions and objectives, important layers should be first peeled away. With the said process, the researcher was able to create an outline on what measures are most appropriate to be applied in the study. It is not unusual for a researcher to first think of his res

Project Management Accounting(BBAC501) Essay Example | Topics and Well Written Essays - 1250 words

Project Management Accounting(BBAC501) - Essay Example To put this into lump light it would be good to know what constitute a cost in manufacturing process. Manufacturing Overhead Costs Stocks are normally classified as an asset in the financial statements, and it is very pertinent note that each product mentioned as en inventory includes the costs of the following: 1. Direct material 2. Direct labor 3. Manufacturing (or factory) overhead Direct material and labour costs are directly traceable to the product being produced. Manufacturing (or factory) overhead on the other hand consist of costs which indirectly relate to factory and on this regard they are divided and allocated to each unit of product. Accordingly this cost are reported in balance sheet inform of finished goods and work in progress (WIP) (GAAP). There are also other costs that would be treated as manufacturing overhead depending on the circumstances for instance, a loyalty or property tax imposed on a factory building. Although it will appear as fixed cost GAAP requires i t allocation and assignment to each unit of manufactured product during such period. Other manufacturing overheads; 1. Material handling e.g. fork lifting opera oration for moving materials and units. 2. Technical expertise for setting up manufacturing equipment which requires some specifications. 3. Work force who inspect and supervise products as they are being manufactured. In my estimates the following are the assumptions which hold in my review 1. There was virtually no beginning inventory of raw material, work in process and finished goods. 2. At the end of the month, 10% of the materials purchased remained on hand, work in process amounted to 20% of the manufacturing costs incurred during the month, and finished goods inventories were negligible. 3. The factory occupies 80% of the premises, the sales area 15% and administration 5%. 4. Most of the equipment is used for manufacturing, with only 5% of the book value being used for sales and administrative functions. 5. Almost al l of the electricity is consumed in the factory. 6. The truck is used to deliver finished goods to customers. 7. The manager spends about one-half of his time on factory management, one-third in the sales area and the rest on administration. Product Costing Cost ($) Cost ($) Â  Direct material 300,000 Direct labor 250,000 Prime Cost 550,000 550,000 Manufacturing (or factory) overhead Rent (80% of 80,000)Assp. No. 3 64,000 Production Supervisor's salary 35,000 Electricity (Assp. No. 5) 12,000 Manager's salary (80,000 x 1/2 Assp. No. 7) 40,000 Equipment depreciation (25,000x95% Assp. No. 4) 23,750 174,750 Total cost of production 724,750 Colonial Tap Company (CTC) Financial Statements for the month ended Cost ($) Cost ($) Sales 980,000 Less C.O.G. Total cost of production 724,750 Less Material at the end ( 10% of 300,000 Assp. No. 2) (30,000) Less Work in progress (20% of 174,750 Assp. No. 2 ) (34,950) 659,800 Gross Profit 320,200 Non Manufacturing Expenses Administrative Expenses Co uncil Rates 5,000 Rent (80,000 x 15% Assp. No. 3) 12,000 Manager's Salary (80,000x2/3 Assp. No. 7 ) 266,667 Equipment

Epicenter and Magnitude of the Earthquake Assignment

Epicenter and Magnitude of the Earthquake - Assignment Example To locate the epicenter of the earthquake, the seismologists examine seismograms from three seismic stations. The seismologists measure the time interval of S-waves and P-waves in about 45 seconds and place the vertical lines at an interval of about 2 seconds. The measured S-P time interval will help to determine waves distance of travel from the focus to the station. It is paramount to note that the actual location of the epicenter is on the circle's perimeter to be drawn around the station. Therefore, to triangulate this position, there must be three seismic stations. A circle with an appropriate radius is drawn around every station and where the three circles intersect is the epicenter of the earthquake. Â  The seismologists use a well-known Richter scale to measure the magnitude of an earthquake. To determine the earthquake’s Richter magnitude, seismologists require one to know the surface the wave’s amplitude and the distance to the origin of the earthquake at the seismic recording site or location. The distance of the seismic recording and footage station from the epicenter can be determined by getting the time difference between the arrival of the P-waves and S-waves at the station. The difference is called S-P interval. The amplitude of the surface wave depends on the earthquakes magnitude and the distance between the epicenter and recording station. It is a measure of how many millimeters the ground will move at the recording station. The amplitude and S-P interval is then used to determine the Richter magnitude.

How does the history of India's textile industries reflect the growth Term Paper

How does the history of India's textile industries reflect the growth and decline of colonialism - Term Paper Example This has also comprised of a significant component of trade in Portugal.1 Traditionally, the textile industry in India is the only industry that generated huge employment in the country after agriculture. Textile industry is the second largest income and employment generating sector in India. Textile industry occupies a special position in India, and accounts for over 14 percent of total production. This approximates to 30 percent total exports. The industry provides one of the basic needs in the country, hence enhance maintenance of sustainable growth and improve the quality of life. The industry holds a unique position as a self reliant industry, ranging from raw material production to delivery of finished products, accompanied by the addition of value at every stage. This paper evaluates how the textile industry in India reflects the growth and decline of colonialism.1 History of Textile Industry India’s textile industry remains remarkable worldwide for production and suppl y of textile goods. The industry was virtually decayed during the colonial period. Nevertheless, the modern textile industry dates back at the beginning of 19th century after the establishment of the first textile mill in Calcutta in 1818. The textile industry, however, made a real beginning in 1850s in Bombay, with the first textile mill established in 1854 by the Parsi cotton merchant who engaged in internal and overseas trade afterwards. Indeed, vast majority of early mills were by handiwork merchants who engaged in the cloth trade in markets at home and in African2 markets. The cotton mill in Ahmedabad was established in 1871 and emerged as a rival centre to the one in Bombay. The Gujarati trading class facilitated the development of the cotton mills at Ahmedabad. The industry has since then expanded rapidly, especially during the second half of 19th century that saw the establishment of 178 cotton mills. However, in 1900, the textile industry was in a very bad state due to incr eased due to famine leading to mot mills in Bombay and Ahmedabad closed for long periods. By 1945, the mills had employed more than 5.10 lahk workers. The industry is described as Swadesh as it was developed from the indigenous entrepreneurship as well as capital in the pre-independence era when the Swedish movement stimulated the demand for the Indian textile. The country’s partition during independence affected the textile industry when the Indian union gotten 409 out of available 423 mills in undivided India. This saw 14 mills and 22 percent of the land going to Pakistan. Also, some mills were closed down making most Indian mills import their cotton from Pakistan and other countries after independence. After independence, the country made more rapid strides under the plans. This saw doubling of the spindles from 11 to 22 million between 1951 and 1982. This further increased during 1989-90. The colonialists used textile industry for their own personal gain where they exploi ted the weavers and created a cultural hotch-potch. This affected native cultures where the indigenous production moulds and design patterns underwent major modifications at the onslaught of the alien culture. This sometimes encouraged virtual extinction of some valuable native crafts. The colonial history of the textile industry in India can be split into two phases; 17th and 18th centuries. During this period, Indian muslins and calicoes enhanced commerce in the European East India Companies. The second phase of

Department of Human Resource Development and Performance Technologies Essay

Department of Human Resource Development and Performance Technologies - Essay Example It is anchored on sustainable development strategies which seek to provide a long term solution instead of short term measures of poverty alienation. Sustainability is a concept within the development agenda which refers to ability of people to use various resources without finishing them up for the future generation or use. These international developments have been pegged on sustainable technology campaign and this brings the above dined terms into one umbrella idea. †¢ Provide background information about your worksite and its mission. My worksite is an Islamic Center of Terre Haute which is a religious center that serves diverse roles in nurturing the future Muslim faithful and makes effort to promote peaceful co-existence with other communities from different religious faith. This institution is a learning center with an organized curriculum and the workforce deliver services of high standards (Bargach, 2002). There is a spirited management effort to champion for technologi cal application in learning and execution of various administrative issues in line with the concept of sustainable development. ... †¢ Briefly describe what you did while you were at the worksite. Describe your own thinking, understanding, and learning as your project evolved. My work in Islamic center was to help with cleaning, arranging the books in the library, also arranging the Quran books. These activities provided a great challenge which also served as a lesson to me in view of the wider concept of the society. As the project progressed, I began to reflect on the theories learnt in class and compare with the real life situation. It is worth to note that the theoretical concepts learnt in class give a guideline and appropriate hint on how to handle different issues in any situation. Practical application of learnt concepts requires patience and perseverance as they don’t automatically fit. In arranging the books in this institution for instance, there are some cases where the books have erroneous coding and their search process in the database may as well not help. At this point, critical thinki ng is required to advance book search methods. When it comes to cleaning, the effect of the litter and dust on the compound should be seen to be an environmental threat beyond the limits of the institution and this explains the need to place litter bins in places of higher population concentration. This is a sustainable approach that promotes environmental care and a perfect precedent for the future generation. †¢ Identify what was puzzling, problematic, engaging, exciting, etc. about your project. My project entail cleaning and arrangement of books which attracted several problems and equally puzzling situation. Despite my attempts to put litter bins in the

Answer the 4 Questions Essay Example | Topics and Well Written Essays - 750 words

Answer the 4 Questions - Essay Example The best part about the company was also that it had good electrical engineers that paid attention to providing the customers with good quality finished products. However, most of the machines were a little non-user friendly which led to a lot of complaints faced by the dealers. These factors thus represent vital strategic resources for the company in their own ways as mentioned. Answer 2: In the projector market, Sony had secured for itself a firm foothold as well. Sony was the main player in the projector market and had an estimation of about 50% of its units being sold. The main reason by which it was able to generate high levels of revenue was because it had a worldwide network of captive commercial video distributors who in turn worked with about 1,500 dealers worldwide. It had built a reputation for itself in terms of high reliability and cheaper prices with the dealers and that is why the more preferred brand in terms of projector purchases. However, when one looked at its ele ctrical engineers, the ones from Barco were better equipped to handle machines and produced better projectors. Thus the only strategic resource that Sony has in the projector market reverts back to its strong distribution system or line of promotion and physical networking. Answer 3: Barco made a decision of entering a new activity only if it had in depth research of the technology that was required and only if it could hold an estimation of being one of the top three manufacturers of the product in the world. It also put in about 8% - 10% of its annual turnover into research and development for the same. This led to the company facing a vast number of hindrances because due to this, the company only relied on the knowledge that it had gained, and Sony took over the market slowly with the introduction of new and improved technology at lower prices. Had the company changed its vision about not delving into unknown surroundings, it could have done better and provided fierce competitio n for its competitors as well. Answer 4: Sony’s strategic plan was to launch the Superdata projector at the Siggraph show in Boston. This product seized the first place as the industry’s highest performing projector from BPS’ BG400. Sony also planned to price it at a level that was about 20% – 40% below the actual market price that had been established in the projector sector. Thus this lethal combination of having such a low price for a high end and high performance yielding product proved great competition for Barco and threatened not only to lead to a collapse of its traditional market segmentation but also drop the prices of its products to a very low amount. This led to a downturn in the company’s working and functioning. Works Cited 1. Moriarty, Rowland T. â€Å"Barco Projection Systems (A): Worldwide Niche Marketing†

Challenges in Managing Talent - Part II Assignment

Challenges in Managing Talent - Part II - Assignment Example It is therefore very important that even if changes will take place, stakeholders will always plan into the long term rather than looking at only immediate needs of the organization. Dear friend, indeed all areas of your presentation are very discerning. However, one area I would like to emphasize on most has to do with the implication for changes to talent management functions within the organization. I have a very strong personal feeling that whatever the outcome with the changes turns to be depends on what goes into the implementation of the change. It was therefore very refreshing to read that you share this same opinion. Based on what has been studied in literature, quote (year) posited that there is nothing like an outright right or wrong change to talent management functions. This is because there are times that changes will certainly be required to fill vacant positions. With this assertion in mind, I will base on personal experience from my workplace where changes at the finance department failed but that at the public relations succeeded to state that, where there is poor planning for changes, the implications are always

Prosecuting mothers of children born with problems due to the mothers Term Paper

Prosecuting mothers of children born with problems due to the mothers substance abuse during pregnancy - Term Paper Example In this regard, ingested psychoactive substances such as drugs have the ability of inducing dependence just like other forms of addictive behavior such as gambling. Due to the ambiguity of this term, medical practitioners and researchers regard addiction as a human behavior that motivated by emotions, ranging from craving to compulsion, continued use in spite of the known adverse effects and that result to a person losing control (Henry and Ting, 2008). In reference to drug use, American Psychological Association uses substance use disorders as a collective term for substance abuse and dependence (APA, 1994). Under dependence, APA (1994) identifies impaired control over using a substance as an important component. This implies a combination of behavioral, cognitive and psychological symptoms that indicate continuous use of the substance in spite of the resulting health problems cause by it (Henry, and Ting, 2008). Substance use in the society is widespread and one of the major areas concern is its effect on pregnant women. Chiang and Loretta (1996) noted that substance abuse in women is common to those struggling with poverty, homelessness, mental illness violence and trauma. In United States, SAMHSA (2009) reports that pregnant women are more likely to engage in substance abuse than their non-pregnant counterparts in the same age bracket. According to SAMHSA (2009), 22% of pregnant women reported using cocaine compared to 17% of those who were not pregnant. The rate of substance abuse such as amphetamines and marijuana in pregnant women exceed that of non-pregnant women. According to SAMHSA (2009), 21% of pregnant women used amphetamines compared to 13% of women who were not pregnant. Moreover, 17% of pregnant women admitted to using marijuana as their drug of choice compared to 13 % of those who were not pregnant. In addition, 18% pregnant women are likely to seek medical attention on drug related problems compared to 31% of their pregnant counterparts (SAMHS A, 2009). Substance abuse among pregnant women varies with age and race in the United States. For instance, white women are more likely to smoke and use tobacco related products compared to the blacks and Hispanic women (SAMHSA, 2009). An average of 25.7% of pregnant women aged from 15-25 smoke cigarettes compared with 10.6% of their pregnant counterparts aged from 26-44 years (SAMHSA, 2009). This pattern is reflected in alcohol use among the pregnant women, whereby younger pregnant women have higher prevalence rate compared to their older counterparts. However, alcohol use among pregnant women is lower compared to their non-pregnant counterparts in the United States. In addition, most pregnant women use more than one type of drugs (SAMHSA, 2009). According to MCFD (2003), one of the leading causes of mental, psychological and physical impairments in children is use of substances such as alcohol, tobacco and other illegal drugs by the pregnant mothers. Different drugs have diverse h ealth complications to the unborn child, and MCFD (2003), notes that alcohol is one of the most notorious drugs that cause the severe health complications. Substance use during pregnancy causes premature birth, in addition short term and long-term impairments. However, the effects depend on several factors, including the health status of the mother, the quantity and the type of the drug that

McCarthyism’s Connection to Crucible Essay Example for Free

McCarthyism’s Connection to Crucible Essay During the 1940s to the 1950s, McCarthyism took its way, ruining innocent people lives through false the accusations of being affiliated in Communism. The innocent people that were accused and not found guilty couldn’t return back to their normal lives. One of the people that were trialed was Arthur Miller, author of The Crucible. Miller didn’t take this lightly and felt that something had to be done, so he wrote The Crucible connecting the McCarthy trials with the Salem witch trials. There were numerous relations of the Salem witch trials and McCarthyism, but there were three that stood out the most. During the McCarthy trials and Salem witch trials, innocent people endured the scare factor which brought out strange behavior, the accused couldn’t go back to their regular lives, and the accused had to endure the harsh interrogations. In The Crucible and during McCarthyism, it was prudent to go by the expectations that society presented or one may run the risk of having their reputation flawed. In The Crucible, Abigail and few other girls were discovered dancing in the woods by Rev. Parris. When Rev. Parris discovered this he couldn’t let it go, because during those times if you had time to dance then you had time to read the Bible. Innocent U.S. Government officials lost their jobs to be suspected of being Communist by McCarthy so he may move up the political ladder. During McCarthyism and Salem witch trials, the smallest evidence was used to make their accusations. In The Crucible and McCarthy trials, both include the faulty accusations and harsh interrogations that were placed on innocent citizens. During the time of McCarthyism, people lives were monitored by the government to reveal any unusual behaviors that may be considered Communist. Much of the evidence that was used was pulled out of someone’s file that may have been ten years old. In The Crucible, Proctor was thought of being affiliated with witchery for not coming to church in a couple of weeks. Proctor didn’t come because of his wife’s illness, but even this excuse wasn’t enough to get him in the clear completely. The wild accusations of the McCarthy trials and in The Crucible, created a stir within both societies that caused people to alter their lifestyles in hopes of not being noticed. The Red Scare of McCarthyism was focused in the government system and it stood for such a long time with support from people due to the anxiety of Communists being in the U.S. In The Crucible, nearly  one hundred people were trialed and found guilty of witchery in on year. Giles Corey accused his wife because she was reading a book other than the Bible. The anxiety of the fear that his wife may be a witch brought him to the court to plea his belief. The fear factor, strict expectations of society, and reputations being ruined were factors that made living during McCarthyism and the Salem witch trials nearly impossible to not become involved. Everyone during those times, presented a fear of the witch hunts that caused them to accuse people they have known for years, which kept these trials stable. No one could escape the witch hunts, and those whom did were lucky to not have had their lives ruined and banned from any jobs and spending time with your family. Both periods of time share the regret and unfortunate events that innocent people had to endure.

Unfair Dismissal in Employment

Unfair Dismissal in Employment Unfair Dismissal. In an action for unfair dismissal, it is for the employer to prove that there were grounds for dismissal, and that in the circumstances the dismissal is fair. Five potentially fair reasons for dismissal have been set out at Section 98 of the Employment Rights Act 1986.   These are as follow:- Lack of appropriate qualifications or capability This will only be fair if the missing qualification is essential to the proper performance of the job. Interestingly, in Litster v Thom Sons Ltd (1975) an employee was found to be unfairly dismissed after dismissal for failing to obtain a HGV licence, which had been stipulated as a condition of employment.   It was held that the employee could serve the employer in other ways. Negligence may justify dismissal. By way of example, in Taylor v Alidair Limited, Mr Taylor was a trained pilot, who was dismissed for causing damage to a plane (and a fright to its passengers) after a bad landing.   The court of appeal held that the degree of professional skill required in that case was so high, and the consequences of from that high standard was so serious that one failure to perform in accordance with those standards was enough to justify the dismissal. the employees conduct Whether the conduct justifies dismissal will be a question of fact in each case.   Lying, fighting, theft, or dangerous behaviour would undoubtedly justify a dismissal. Other scenarios such as being rude, or failing to cooperate with management, or drinking on duty, may also be fairly dismissed. Conduct in an employees spare time may also justify dismissal if it reflects adversely on the employee’s suitability for a job – such as theft. Sleeping with the wife of the employer outside office hours was held to justify dismissal in Whitlow v Alkanet Construction (1987) However, if the lack of capability is caused through the fault of the employer, for example, through its failing to provide training or supervision, the dismissal would be unfair. the employee was redundant An employer must show that the employee has been fairly selected. The onus would fall to the employer to show that the reason for Gillian’s selection was fair. The EAT laid down guidelines for good industrial practice in redundancies in Williams v Compare Maxam Limited.   This requires consideration as to whether objective selection criteria were chosen and fairly applied; whether the possibility of transfer to other work was investigated; whether employees were warned and consulted and whether any union was consulted. the continuance of employment would result in illegality any other substantial reason. In Gorfin v Distressed Gentlefolks’ Aid Association (1973), a personality clash was sufficient to render dismissal fair in order to restore harmony to the workplace, where all other reasonable steps had been taken to resolve the situation.   Economic reasons may also fall within this heading, if an employer could show that these were based on good commercial practice.   This would include for example removing overtime when defending a claim for constructive dismissal. Whether the dismissal is fair is subject to the general reasonableness test, as set out at Section 90(4) Employment Rights Act 1996.   This provides that fairness will be judged by deciding whether in all the circumstances the employer acted reasonably â€Å"determined according to equity and the merits of the case†.   Merely giving the appropriate contractual notice, and showing that a S98 reason applies will not suffice.   The employer must show that he dealt with the problem in a reasonable way in the particular circumstances. It must be shown that dismissal is a last resort, and that the dismissal has not come out of the blue.   It is important to ensure that adequate warnings are given, failing which an otherwise fair dismissal will be rendered unfair.   There are certain circumstances where the law is eager to protect employees who are vulnerable to victimisation, by providing that certain circumstances will automatically give rise to a claim for unfair dismissal – irrespective as to whether an employee has been employed for the one year qualifying period.   These situations include a claim for dismissal in connection with the exercise of maternity rights; dismissal relating to whistle blowing; accompanying workers at a disciplinary hearing; trade union membership or activity; or for taking legal action against an employer to enforce statutory rights. For a dismissal to be fair, an employer must also show that it followed a fair procedure.   Section 34 of the Employment Act 2002 inserted a new Section 98A into the Employment Rights Act 1996. This sets down the minimum procedural requirements and provides that a breach by the employer of a statutory procedure on dismissal will mean that the dismissal is automatically unfair.   (This reverses the rule in Polkey v Dayton Services Limited.)   The detail of how the procedures would operate in practice was set out in secondary legislation, the Employment Act 2002 (Dispute Resolution) Regulations 2004. The basic standards are defined in Schedule 2 as: 1) The employer must set outline writing the employees alleged conduct, or characteristics, or other circumstances which lead him to contemplate dismissal or disciplinary action. 2) An invitation must be given to the employee to attend a meeting to discuss the matter, which must take place before action is taken. 3) The employee must have a reasonable opportunity to consider his response. 4) The employer must inform the employee of his decision. 5) The employer must give a right of appeal, together with an invitation to attend a further meeting for this purpose. If an employee is found to have breached this procedure, the dismissal is automatically unfair. In addition, there will be an extra award of four weeks pay, if a   tribunal   finds that not to be unjust to the employer. Bibliography A Practical Approach to Employment Law – John Bowers, 7th Edition, Oxford University Press 2005 Harvey on Industrial Relations and Employment Law, Butterworths Law for Business Students, Alix Adams, 3rd Edition, Pearson Longman 2003 Employment Act 2002 Employment Act 2002 (Dispute Resolution) Regulations 2004. Employment Rights Act 1996 (as amended by the Employment Relations Act 1999) Trades Union and Labour Relations (Consolidation) Act 1992 Davison v Kent Meters (1975) Gorfin v Distressed Gentlefolks’ Aid Association (1973), Litster v Thom Sons Ltd (1975) Moore v C A Modes (1981) Polkey v Dayton Services Limited [1988] ICR 142 Taylor v Alidair Limited [1978] IRLR 82 Whitlow v Alkanet Construction (1987) Williams v Compare Maxam Limited [1982] IRLR 83

Recruitment And Selection At Tesco

Recruitment And Selection At Tesco As a member of the HR department I need to research and make a report in order to check the quality of new staff being hired. The aim of this report is to explore what are the best means of testing and hiring new employees. It will also look into some benefits and drawbacks of recruitment process in two successful companies which are Tesco and McDonalds. Consequently, I will outline some suggestion which I think is the best for our company. 2.0 Procedures The information is collected from internet and using secondary research to gather data for my report. 3.0 Findings 3.1 Recruitment and selection at Tesco Tesco is the largest private sector employer and operating over 13 countries outside the UK. There is increasing all the time in the number of both store-based and non-store. In addition, in order to achieve business objectives, Tesco needs to make sure that they have the right number of workers in the right jobs at the right time. In order to do this, Tesco has a step by step process of recruitment and selection to appeal applicants for both operational and managerial roles. As the company is growing, it is important for Tesco to have workforce planning which is future needs for people in term of locations, numbers and skills. As regards of recruitment, it can be defined as the process of identifying which the organisation needs for a new employee. Tesco advertises vacancies in different methods. The process of recruiting depends on the job available. Firstly, Tesco looks at internal Talent Plan to fill posts. The lists of current employees who looking for a move or on promotion will be consider. If nobody is suitable in this talent plan, Tesco use internal advertising to post in intranet. However, external recruitment, the vacancies are posted in the Tesco websites or external vacancies board. When making applicant online for managerial position, the chosen applicants must have an interview. Consequently, people who are selected will attendance at an assessment centre for selecting process. Having the CV or register at Jobcentre Plus, candidates who interested in stored based jobs can apply stores in Tesco. The store prepares a waiting list of application which is not selected and calls them if vacancies become available. Furthermore, for the jobs with more specialists such as pharmacist, baker the external recruitment method will be used for example radio, magazine, television. As far as the selection are concerned, it involve in selecting a suitable candidates from applicants by using the job specification and job description. The important part of the selection process is screening candidates. This is ensure that people are selected have matched with the job requirements. Initially, each applicants CV which summarises the candidates education and job experience will be looked cautiously by the Human Resources in Tesco. The firm also provides a job type match on careers web page. Hence they can see where they fit or not. A person who passes screening attend assessment centre will be invited to second interview. If they are successful, they will receive an offer letter and contract. The assessment centre is take place in store and is run by managers. It will give to candidate several tasks which include problem solving, team working. These exercises can help candidate to deal with real problems at work. 3.2 Advantage of recruitment and selection method in Tesco With respect to recruitment process, Tesco will try to find the most cost-effective way of attracting people. Although it is not cheap to advertise on television and magazines, this is essential to get the right type of people for the vacancies. It is easy for applicants to seek about available jobs and also has a simple application process throughout the Tesco website. First of all, by using internal recruitment in Tesco lead to cut the cost of recruiting workers from outside. This is due to less training and orientation required In addition, the HR department know more about the candidates ability. This will increase productivity of current employee and stronger commitment to the company. There are a number of benefits by using external recruitment method. Because of new people, they will bring in Tesco new perspectives and ideas. Furthermore, Tesco have more choice to choose candidates; they have a wider range of experience. 3.3 Disadvantage of recruitment and selection method in Tesco As regards to internal recruitment, the number of applicants can be limited. Owing to already known about strength and weakness of candidate, Tesco could not have new ideas from outside. In addition, another vacancy will be creating which need to be filled. On the other hand, in external recruitment, it has more expensive because of advertising and longer process. The selection process might not be effective enough to find the best applicant. 3.4 Introduction to recruitment and selection methods in McDonalds McDonalds is a one of the largest scale employer. Most workers are paid by the hour and those people called as crew members. Their jobs are to prepare the food and serve customers in order to make the restaurants run more efficiency. With respect to recruiting hourly-paid workers McDonalds have created a two-step application process for potential crew members. Firstly, all candidates must do the psychometric test and then they need to go online and fill the application. Once successful, the candidate will be invited to a restaurant for an on job experience (oje) and interview. The purposes of OJE give a good opportunity to evaluate the candidates customer service skills, how they get on with other member in McDonald and allows candidate to see whether or not suits with working environment. After that, the candidate will work in customer facing areas about 2 day assessment and will be given full instruction on what to do. Consequently, they have a final interview with manager who will give the decision about the applicant. When crew member have been hired, they have to attend a welcome meeting to demonstrate their skills and behaviours. This meeting will show an overview of the company and then candidate must do h ealth safety and food safety test online. 3.5 Advantage and disadvantage of recruitment and selection methods As we can see, the way McDonalds recruitment people it appeal more people to apply because they offer employee with many rewards and bonus. This also increases competition between employees to get prizes. They also provide good working condition which help workers more flexible at work. The other thing here is that people are easily to find out and apply quickly which save a lot of time. On the other hand, there are some drawbacks of these methods. Firstly, owing to more reward, this lead to increasing cost for company. 4.0 Conclusion From my point of view, both companies have good recruitment and selection policy depends on what they are doing. McDonald believes that employees are a vital role in the company to achieve the success of the restaurants. Their aim is to recruit the best people and keep them by offering on-going training related to their position, therefore promoting them when they are ready. The recruitment policies to fulfil its aim. However, Tesco believes that workforce planning is vital for business. They got strong organisational structures. It provides user-friendly ways of applying for jobs and a consistent approach to recruitment and selection. 5.0 Recommendation Having finished research and analyses the recruitment process in both company, I would like to recommend some suggestion for our company which are application online, advertise on TV, using job specification and job description. First of all, application online help people easily to apply and attracting more people is due to developing of technology nowadays. Secondly, advertising is good way to grab attention of people. The reason is that most people like watching TV in leisure times. Although advertising is expensive in the short run, we will have more result in the long run. This is because we have right employee who will contribute to our company for a long time. Finally, when we have many applicants, using job specification and description are the good ways to choose the right person. These documents help us get the overview of candidates; what the qualification they have and their experience.

Essay --

Financiering van de Pleegzorg; De gehele Jeugdzorg, waar Jeugdhulp Friesland en dus Pleegzorg onder valt wordt gesubsidieerd door de overheid. Dit valt onder de gezondheidszorg, per deel van Jeugdhulp is er een budget die wordt ingezet om iedereen te helpen. Als voorbeeld van een activiteit heb ik de reiskostenvergoeding van stagiaires genomen, stagiaires kunnen de gemaakte kosten declareren bij de organisatie. Deze prijs is opgebouwd uit de gemaakte kilometers en welke prijs daaraan verbonden zit. Hoe je reist is ook van invloed op de prijs, als je week-ov hebt krijg je niet betaald omdat jijzelf dan gratis kan reizen. Ieder pleeggezin ontvangt pleegoudervergoeding, deze vergoeding is maandelijks en is bedoeld voor het kind. Hiervan moeten ouders dingen als kleding en bijvoorbeeld slaapspullen. De vergoeding hangt af van de leeftijd van het kind, hieronder is een tabel bijgevoegd waarin de basisbedragen voor elke leeftijdscategorie zijn omschreven. Basisbedragen van de pleegzorg per jeugdige per 1 januari 2013. Leeftijdscategorie Bedrag per maand/per dag 0 t/m 8 jaar â‚ ¬ 532/17,50 9 t/m 11 jaar â‚ ¬ 538/17,70 12 t/m 15 jaar â‚ ¬ 586/19,28 16 t/m 17 jaar â‚ ¬ 647/21,28 18 jaar en ouder â‚ ¬ 654/21,51 (Pleegzorg Nederland, 2013) Privacy: De privacyregels van Jeugdhulp Friesland staan genoteerd onder de volgende categorieà «n: ï  ¶ Informatie verzamelen en vastleggen ï  ¶ Het recht om gegevens in te zien ï  ¶ Het uitgeven van informatie aan andere personen ï  ¶ Het bewaren en vernietigen van gegevens Informatie verzamelen en vastleggen: Alle informatie over een clià «nt wordt vastgelegd in een dossier, in dit dossier staan alle standaardgegevens zoals naam, adres en geboortedatum. De informatie die bij Pleegzorg binnenkomt is afkomstig van ouders/verzorgers ... ...eegzorg bevorderen en in de belangen van pleegouders en –kinderen voorzien. (Jeugdhulp Friesland, 2014) Ook heb je de Nederlandse Vereniging voor Pleeggezinnen (NVP), de NVP is een landelijke, onafhankelijke vereniging van en voor pleegouders. De NVP zet zich in voor de belangen van pleegzorg, ze willen de kwaliteit van pleegzorg in Nederland verbeteren. Dit doen ze door middel van ondersteuning, advies en belangenbehartiging voor de pleeggezinnen. (Jeugdhulp Friesland, 2014) Alle partijen binnen Jeugdhulp Friesland communiceren met elkaar, de Raad van Bestuur staat bovenaan en pleegt overleg met de Controller en de Regiodirecteur. Alles wat naar de medewerkers moet worden doorgestuurd wordt door de Regiodirecteur geregeld, deze zorgt ervoor dat de wensen van de Raad van Bestuur door gegeven worden aan de medewerkers. Voor een communicatieoverzicht: Zie bijlage

The Writings of John Updike :: Biography Biographies Essays

The Writings of John Updike      Ã‚  Ã‚  Ã‚  Ã‚   John Updike's Rabbit books tell the story of a man whose life is in constant turmoil. Harry "Rabbit" Angstrom's downward spiral started the day his senior basketball season ended. Rabbit was a basketball jock; he knew nothing else. He married his high school sweetheart more out of convenience than love and worked in the same printing press as his father. Rabbit couldn't face the working world, couldn't face his parents, and couldn't face his wife and son. He was constantly caught somewhere in the middle ground between righteousness and sinful pleasure. Rabbit's mind was constantly wandering, searching for something he could hold on to, something that would remain constant through the thick and thin of life. He needed another basketball.    Rabbit's life is the perfect model for a case study on how not to live. Anything appealing that entered his mind, he did it. Rabbit cheated on his wife, ignored his mother, was unaffected when his wife left him, took up with an eighteen year old girl when he was well into his thirties and did not attempt to hide any of it from his twelve year old son, Nelson. Rather than getting tough when times were hard, Rabbit ran. He ran from a pregnant wife, Janice, from Nelson who was then twelve, from employment, from his parents, from everything. Rabbit practiced the opposite of perseverance. When life wasn't going well, Rabbit simply moved on to something else.    Rabbit matters because he was so wrong. Our thoughts often mimic Rabbit's actions. But Rabbit takes the heat for us. His twisted, perverse life shows us that the choices he made were the wrong ones. Not to imply that he was in any way godly, but like Jesus, Rabbit suffered for our sins. How many times do we find ourselves bored in life, wishing that we could just move on to something else, give up and start over? Each time we do, we can remember Rabbit. Rabbit reminds us that without work, life is not fulfilling. He shows us that you can't start over, that you can never leave your life behind.    Rabbit shows us that we have to live with our mistakes, that we can't just act like they never happened. Rabbit tries to run, but he can't. He reminds us that people don't just forget and move on.