Carl Jung’s Theory on Personality

All across America, literacy and early education of children has become the focus of concern for parents, teachers, and policy makers. Education has been positively linked to students’ future success in school, their likelihood to continue education past high school, and their future career opportunities. A strong foundation in reading and linguistics is a key factor in children’s academic development and future opportunities.As a result, a great deal of time, money, and energy has been invested in designing programs that focus on developing children’s knowledge and use of the English language in order to provide them with this necessary educational foundation. However, upon close inspection, it seems as though many of these programs focus on correcting only one or two of the many factors at work in the issue of illiteracy in America’s urban youth. While a variety of reading programs are available in almost every school, there are still a significant numbe r of illiterate and struggling students across the nation. Of particular concern is the school preparation of children from economically disadvantaged homes – children who continue to fare less well in school than more advantaged children† (Stipek 711). 40% of America’s fourth grade students lack basic reading skills, but the illiteracy rate increases to 68% for low-income rural and urban areas (Literacy Rates).Research has shown that children who grow up in poor, urban areas struggle the most with reading for a variety of reasons. Despite significant federal and state investments in compensatory education programs, persistent achievement gaps among students of various ethnic, socioeconomic, and linguistic backgrounds have been difficult to close† (Neuman 92). This shows that resources are available to schools and districts that face issues with low literacy rates, but the problem persists. In a study of gaps in reading achievement by Parkinson and Rowan, s tatistical analysis was done on the test scores of high-, average-, and low-risk students upon entering kindergarten through the end of third grade (Neuman 80).Placing these scores on a statistical normal curve helped determine how much the gap between these groups increased as education progressed, and showed significant evidence that socioeconomic factors impact the education of young children. These test scores were then used for further statistical analysis to determine the amount of additional instruction time it would take at-risk students to reach the same achievement level as average and low-risk students.By calculating the standard deviation of each group’s test scores, Parkinson and Rowan were able to then convert that to months of additional instruction necessary to decrease the gaps in reading achievement. In order to match high-risk students achievement with that of average-risk students, 1. 6 months of extra instruction would be necessary at the beginning of kin dergarten, but by the end of the third grade, the time had increased to 4. 7 months. When comparing high-risk and low-risk students’ achievement, 2. months of instruction were needed at the beginning of kindergarten, whereas the end of third grade required 7. 8 months (Neuman 80). While Parkinson and Rowan acknowledge variations and possible issues with the data they collected and analyzed, these calculations still show the effects of socioeconomic factors on educational achievement. In a similar study by Stipek and Ryan on disadvantaged preschoolers and academic motivation, this education gap is explored as a result of lack of motivation.Surveying and calculating the academic achievement of several classroom groups in preschool and kindergarten proved a similar gap in academic achievement to that found by Parkinson and Rowan. â€Å"The results of this study paint a clear picture of children from relatively low-income homes beginning school at a considerable academic disadva ntage† (Stipek, 720). Through several cognitive assessments of skills including problem solving, reading, and language skills, this study attempted to identify where students of low socioeconomic backgrounds struggled the most.Statistically significant differences were found in each of these assessments for each age group, so to further investigate these results, motivation and gender factors were researched as well. â€Å"In contrast to the findings on cognitive variables, the results revealed almost no motivation deficits for the economically disadvantaged children† (Stipek 721). What little differences were found connected to gender were rare and did not suggest any real pattern of academic achievement. While this study ooked into gender and motivation as factors in academic achievement differences, these proved insignificant to explain the achievement gap between students of varying socioeconomic backgrounds. Rather than continue to focus on individual factors, like gender and motivation, that had been proven to have little significance in explaining the education gap, other researchers have taken up the banner of family involvement and home environment on children’s academic development.According to McLoyd and Purtell, â€Å"contemporary esearchers tend to interpret links between family income and home environment within an investment model (i. e. , the notion that income is associated with children’s development because it enables families to invest in the human capital of their children by purchasing materials, experiences, and services that benefit the child’s development and well-being) rather than within a cultural deficit model† (Neuman 58). Reasoning behind this focus can be found in the history of urban areas and the families that live in them, presented by Shirley Heath.In the article Oral and Literate Traditions Among Black Americans Living in Poverty, Heath explains, â€Å"in the late 1980’s, nea rly half of all Black children lived in poverty, and most of these, especially in urban areas, grew up in households headed by a mother under 25 years of age who was a school dropout† (Heath, 3). She continues to explain how ethnic groups, linguistic differences, and religious or regional factors can make finding trustworthy childcare difficult for single mothers, putting further financial strain on the environment.Financial strain can have a negative effect on the focus put on education in homes with both parents and/or high socioeconomic status. This can also erode family bonds and leave students more vulnerable to the presence of drugs and other negative inner-city influences. By getting involved in drugs, gangs, and other harmful influences, education is forgotten, crippling academic achievement and future opportunities, and prolonging the cycle of poverty in poor urban households.While Heath explains the prevalence of this cycle of poverty through interviews and personal perspectives she collected, Manuel Bueno explains the many and persistent affects it has on early childhood development. â€Å"A shortfall in early childhood development will have irreversible consequences on individuals’ future lifetime opportunities. This will reverberate later in life in the form of lower quality jobs, lower wages, shorter life-spans, worse health and lower cognitive abilities, thus perpetuating an intergenerational cycle of poverty† (Bueno).Unlike many articles regarding early childhood development, Bueno also acknowledges the importance of non-nuclear family structures, emphasizing the importance of involving a child’s primary caretaker rather than the mother or father. Especially in poor urban areas, a household can include members of the extended family just as often as it can exclude a child’s biological parents. Bueno suggests creating early childhood development programs that are both multi-faceted and family inclusive.The most successful of the programs Bueno suggests is referred to as ‘parenting programs’ that work to include parents in children’s education to give them an active and responsible role in their child’s development, and provide reinforcement at home for the things learned in school. The value of these programs is also emphasized by a number of other authors. Charles R. Greenwood is one of the forerunners in the argument for the ecological-interactional-developmental model that investigates the home environment effects on early childhood development.He explains the Hart and Risley Code used to â€Å"measure individual children’s growth in learning to talk as well as the child’s language environment, consisting of parents’, siblings’, and friends’ talk heard by the child in the home and addressed directly to the child† (Neuman 116). By recording audiotapes of conversations and interactions, Greenwood was able to analyze thes e observations using Hart and Risley Code. Similar observations and analyses were made in classroom settings to study student’s responses to instruction.These findings were compared to those found in the home environment, where Greenwood explains some interesting connections. Through the use of Hart and Risley, Greenwood was able to find that children from families of low-socioeconomic status were spoken to less frequently and with fewer words. Children from similar socioeconomic statuses also scored lower on vocabulary tests and struggled with basic academic skills, which crippled their early literacy and school readiness by kindergarten age. By this research, Greenwood was able to conclude that children from low ocio-economic status were less exposed to language and therefore did not learn as much. Further investigation showed that this put a strain on the children’s school readiness, resulting in an education gap similar to that found by Parkinson and Rowan, which g rows as students’ progress in their schooling. Class wide peer tutoring is a program developed and implemented by several researchers, including Greenwood, to investigate whether or not students of lowsocioeconomic status families respond better to one-on-one instruction with a tutor outside of the classroom.For ninety minutes a day, four days per week, students met with a tutor on top of regular instruction to complete lessons in reading, spelling, and math instruction. Results indicated that these lessons â€Å"significantly improved students’ classroom engagement during instruction and reduced socially inappropriate behavior, while accelerating reading, language, and mathematics performance on standardized tests† (Neuman 125). Once the positive impact of this supplemental instruction was established, further research was conducted with peer-assisted learning strategies in which students share the role of teacher in small reading groups.Thirty-five to forty-fi ve minute sessions were conducted daily, in which students were broken up into groups of three to practice reading aloud to each other. Individual points are awarded and group totals are used to determine a ‘winner’ each day. The immediate affects this peer-assisted strategy were significant increases in accuracy, fluency, and comprehension of the material read by students (Neuman 122). After explaining the details of both the one-on-one tutoring and peer-assisted learning strategies, Greenwood discusses their effectiveness as the results showed about 59% of participants exceeded the achievement of non-participants. Students in urban settings, from low-income backgrounds, and of minority status experienced larger gains than students from suburban middle- to high-income backgrounds† (Neuman 126). It was also noted that younger students were affected greater than older students. This study shows that while peer tutoring and one-on-one instruction outside the classro om can improve student achievement, it cannot be used as a panacea for the achievement gap. While Greenwood put his focus on supplemental instruction programs to improve literacy in students from low socioeconomic households, Come andFredericks chose to investigate the involvement of parents in reading programs. They claim that poor families avoiding schools is frequently perceived by educators to be a lack of parental interest in children’s education and, upon investigation of an inner city Georgia school, found that 45% of the children had no one to read to them at home (Come 567). This school had developed several programs designed to help increase the self-esteem of children through parental encouragement and involvement in literacy development.One program designed to include parents in children’s reading was a monthly rewards system. If a student read with a parent for at least fifteen minutes each day for a month, it was marked on a calendar, submitted to the tea cher, and the student was rewarded for his or her accomplishment, boosting confidence and reading proficiency. This program was assisted by a school wide book exchange, in which the students themselves improved access to new reading material. When they brought two books to school, they could exchange one book for a book to keep and the other for a book to donate to their classroom library† (Come 569). Accompanied by a cross-age reading program that paired students in different grades for cooperative reading groups, this book exchange reinforced by parental involvement proved to have significant improvements on children’s reading aptitude in the inner city Georgia school. These programs proved to be useful in the development of student’s reading ability and confidence, as well as the involvement of parents in their children’s education.However, inner-city schools are frequently a melting pot of ethnicities and languages, which can put more strain on childre n’s education if schools do not include language development in reading programs. In a study done by William Louden, a project called Literacy in its Place was investigated to compare literacy programs in rural and urban schools. Initial research â€Å"suggested that the reported difference in urban and rural scores could be explained by differences in social class distribution between the country and the city† (Louden 1).When these factors were taken into account, surprisingly little significance was found. Instead, it was found that children from working class homes, specifically homes in which English is a second language or dialect, were more academically disadvantaged than other students. Louden focuses the rest of his research on professional development for teachers to better assist multilingual students and their parents become actively involved in mastering the English language and developing reading skills. While this supports the consensus of the previously discussed authors that hildren from low-income homes struggle more with school, it introduces language development as a new focus for further research. Mahiri and Sablo introduce research into language as a factor in academic achievement and literacy by investigating the voluntary writing of African American students in a California high school. â€Å"This study was initiated because, in our overall quest to look at ways that African American and youth culture could be used as a bridge to writing development, we wanted to learn more about the kinds of writing these students do for their own purposes outside of school† (Mahiri 165).In this case, writing is seen as an outlet through which students are free to express themselves in whatever vernacular they are most comfortable with, without conforming to school standards or expectations. By investigating students’ use of language in out-of-school settings, Mahiri and Sablo hoped to better link what schools view as importa nt and meaningful in lessons, and what students find meaningful in their daily lives.In this study, it was found that minority students were predominantly in basic and academic classes, as opposed to honors or advanced placement, and performing well below the average scores on standardized tests. Statistics provided by the school, which remained unnamed, showed a 44% failure rate for African American students that began as freshman there. Through an analysis of several pieces of literature written by the students included in the research, and the methods for instruction used by their teachers, little connection was found to suggest culturally relevant topics were being included in instruction.Students were applying information obtained at school to improve their skills and express themselves, but instructors made little effort to do the same. The teachers included in the study recognized that urban culture and schools were changing and that these changes would require them to adjust as well, but were having trouble doing so. Mahiri and Sablo also recognize that including culturally relevant material in school instruction and literacy activities would not solve the problems students faced with literacy development.However, their research suggests that it may help with the development of language and reading skills by giving students something that they can relate to and understand based on their own interests. Ernest Morrell addresses this in the article, Toward a Critical Pedagogy of Popular Culture: Literacy Development among Urban Youth. Ernest Morrell, a former teacher in urban schools, claims that low academic achievement is not the result of a lack of interest, intelligence, or other personal factors in urban students.Instead, he suggests that the issue lies with a lack of access to curriculum and resources. Working from the correlation Mahiri found with urban youth literacy practices and the types of practices emphasized by schools, Morrell suggests that â€Å"any investigation of popular culture must emanate from and serve the interests of members of marginalized groups†¦where students and teachers learn from and with one another while engaging in authentic dialogue that is centered on the experiences of urban youth as participants in and creators of popular culture† (Morrell 2).As an example, he explains programs he designed and used in his own classroom, where hip-hop culture, popular film, and the media were incorporated into each unit. When beginning a unit on English poetry, Morrell introduced the importance of learning the context in which poetry was written to obtain a better understanding of the literature. The same idea was applied to hip-hop and rap music that students in the class were familiar with.For the final project, students were given rap songs to choose from and interpret based on contextual concepts and interpretations that apply to English poetry. As a result, students were inspired to create their own rap/poetry, and were able to better engage with the material because it was tied to larger social issues they could relate to. A similar idea was used in units on popular film and current media. Several movies related to books and assigned reading material were watched in class while students took notes comparing characters, writing styles, and story structure.News segments were also watched to help students analyze portrayals of stories in the media, conduct interviews, and complete a research project on a current topic in the news. Based on his observations of the students in his classroom, Morrell found that â€Å"critical teachers and teacher educators can use classroom-based research to prove that there are ways to meet the challenges the new century offers and turn them into opportunities to connect to the worlds of students, to promote academic achievement, and to prepare students for critical citizen ship in a multicultural democracy† (Morrell 4).Through an inves tigation of current studies being done on reading programs and language development in urban schools, it is easy to see what students struggle with and why. Students from urban neighborhoods tend to be poor working families where English may not be the primary language. Some researchers have interpreted the struggles of these students as a lack of involvement from parents and programs have been designed to better include them in their child’s education. While these have proven to be somewhat successful, they do not solve any issues beyond increasing parental involvement.Other less successful programs have been designed to increase students’ access to school resources, thinking that increased access will increase reading comprehension and proficiency. While this also proved somewhat successful, it can only be applied to schools where budget issues do not limit those resources. Family structure, student motivation, and gender have also been investigated as possible facto rs in the literacy of urban youth, but proved to have an insignificant effect.The most successful research and program development has been a result of combined individually researched ideas. Developing programs that incorporate popular culture has proven to engage students better than regular classroom material and often on more a personal level. Peer tutoring and other cooperative learning programs have proven to be somewhat successful because they allow students to encourage each other in their responsibilities, but this can by further increased by the inclusion of popular culture in the material.These ideas, in addition to increasing parental involvement and increasing students’ access to resources, have had the most significant impact on education and literacy development. It is the incorporation of urban culture into education that further research should be conducted on. By understanding what is important and relevant to students and including that in their education, a platform can be created from which literacy and language skills can be developed.

Saudi Arabian Cultural Mission

This proposal provides insights on the challenges that the Saudi Arabian Cultural Mission, the agency that assists in the administration of policies and programs that enable students learning in the United States (US) to meet their needs pertaining to education and culture, and mediates between educational institutions in the US and the other branches based in Saudi as well as the predicament that Saudi students studying in the US under the Saudi government’s sponsorship are facing, which the researcher deems to be primarily.A consequence of the agency’s failure to provide adequate solutions and the resulting students’ powerlessness to raise their concerns to appropriate authorities.An intensive literature review on materials that reflect the interdependence of the Arabian cultural mission and the Saudi students it serves in the United States was conducted to gather pertinent information for this study. Information gathered revealed that the major concerns of the students namely:1) inadequacy in language proficiency due to inappropriate language education curriculum;2) cultural discrimination resulting to isolation and formation of cliques;3) delay in defraying school fees resulting to a number of late registration and, in austere cases, to students having to drop off from school;4) the agency’s reluctance in assisting students to acquire relevant immigration documents; and5) the existing inappropriate matching system that determines students’ eligibility to be accepted to certain courses they intend to apply for are primarily caused by the agency’s current programs’ inadequacy to respond to the needs of their clientele.Recommendations presented propose reasonable modifications to the existing practices carried on by the agency which if ever adopted are deemed to improve the current state of interdependency between the cultural mission and the Saudi students studying under the government sponsorship in the United States.

Analysis of Divisional Performance of Asian Paints Ltd

DEPARTMENT OF COMMERCE SCHOOL OF MANAGEMENT PONDICHERRY UNIVERSITY ASSIGNMENT ON ADVANCED COST ACCOUNTING ANALYSIS OF DIVISIONAL PERFORMANCE OF ASIAN PAINTS LTD SUBMITTED TO: -SUBMITTED BY: – DR. G. SHANMUGHASUNDARAM A. PURUSHOTHAMAN ASSOCIATE PROFESSOR M. COM (BUSINESS FINANCE) DEPT. OF COMMERCE 2nd YEAR PONDICHERRY UNIVERSITY REG. NUMBER: 11351059 INTRODUCTION DIVISIONAL PERFOMANCE OF COST CENTRE AND PROFIT CENTRE A profit centre is a unit of a company that generates revenue in excess of its expenses. The main aim of profit centre is to earn profit.The performance of profit centre is evaluated in terms of whether the centre has been achieved its budgeted profit A  cost centre  is a business unit that is only responsible for the  costs  that it incurs. The manager of a cost centre is not responsible for  revenue  generation or asset usage. The performance of a cost centre is usually evaluated through the comparison of  budgeted  to actual costs. The costs incu rred by a cost centre may be aggregated into a  cost pool  and allocated to other business units. Investment centre is responsible for both profit and investment.The investment centre manager has control over revenue, expenses and the amount invested in the current assets. The following are the techniques used to measure the divisional performance of cost centre and profit centre * Variance analysis * Profit * Return on investment * Market share COST PER UNIT: Cost refers to the total cost incurred for the production. So cost per unit refers to the cost incurred for producing 1 unit. Normally we used the below formula to calculate the cost per unit Cost/unit = total cost / No. of unit produced COST PER UNIT year| Production| Total expenses| COST PER UNIT| 008| 40946. 7| 559586| 0. 073173203| 2009| 50418. 7| 602922| 0. 083623918| 2010| 57937. 2| 732142| 0. 079133829| 2011| 72582. 9| 849056| 0. 085486587| Interpretation: The above table and chart shows the cost per unit of Asian p aints India ltd. They incurred highest cost per unit in the year 2011. This may because increasing the cost of raw material or other charges etc. It is better to have lower cost per unit because when cost per unit increases the total cost will increase. That in turn reduces the profitability of a firm. In the 2008 the firms have lower cost per unit of production compared to other years.So may be this year the profit is increased. The cost per unit is higher in the years 2011 and 2009. COST VARIANCE Cost variance (CV) is the amount of money that was actually spent on a project or a part of a project compared to the amount of work that was actually accomplished. Cost variance = Budgeted cost of work performed – The actual cost of work performed. YEAR| TOTAL COST| STANDARD| COST VARIANCE | DECISION| 2008| 40946. 7| 61276. 54| -20329. 84| A| 2009| 50418. 7| 61276. 54| -10857. 84| A| 2010| 57937. 2| 61276. 54| -3339. 34| A| 2011| 72582. 9| 61276. 54| 11306. 6| F| 2012| 84,497. 20| 61276. 54| 23220. 66| F| Interpretation: Here from 2008 to 2010 there is a favorable situation because in these years actual cost is less than standard cost. In 2011 and 2012 actual cost exceeds standard cost. That may be because of increase in the cost/unit in these years. SALES VARIANCE Sales variance is the difference between actual sales and budget sales. It is used to measure the performance of a sales function, and/or analyze business results to better understand market conditions. Sales variance = Actual sales – standard sales Segment 1= PaintYEAR| SALE| STANDARD| SALES VARIANCE| DECISION| 2008| 39062. 2| 51731. 3| -12669. 1| A| 2009| 48641. 9| 51731. 3| -3089. 4| A| 2010| 56135| 51731. 3| 4403. 7| F| 2011| 63086. 1| 51731. 3| 11354. 8| F| Segment 2= Others YEAR| SALE| STANDARD| SALES VARIANCE| DECISION| 2008| 1731. 7| 1717. 375| 14. 325| F| 2009| 1634. 5| 1717. 375| -82. 875| A| 2010| 1774| 1717. 375| 56. 625| A| 2011| 1729. 3| 1717. 375| 11. 925| A| TOTAL SALES VARI ANCE YEAR| TOTAL SALES| STANDARD| COST VARIANCE | DECISION| 2008| 40,946. 70| 62,655. 72| -21,709. 02| A| 2009| 50,418. 70| 62655. 72| -12,237. 02| A| 2010| 57,937. 0| 62655. 72| -4,718. 52| A| 2011| 72,582. 90| 62655. 72| 9,927. 18| F| 2012| 91,393. 10| 62655. 72| 28,737. 38| F| INTERPRETATION Sales variance is higher in the year 2012 which means that company sold more than standard sales in the year 2012. And the 2011 also have the favorable value but it is lower than 2012. From 2008 to 2010 company cannot sold more than standard sales. That is an unfavorable situation for the company. MARKET SHARE The percentage of an industry or market's total sales that is earned by a particular company over a specified time period is known as market share.Market share is calculated by taking the company's sales over the period and dividing it by the total sales of the industry over the same period. This metric is used to give a general idea of the size of a company to its market and its compet itors. Market share Year| Total sales| Industrial sales| Market share | 2008| 40,946. 70| 348047| 11. 76| 2009| 50,418. 70| 393266| 12. 82| 2010| 57,937. 20| 260717| 22. 22| 2011| 72,582. 90| 834703| 8. 70| 2012| 91,393. 10| 868,234. 00| 10. 53| Interpretation: Company has highest market share in the year 2010. It is decreased in the subsequent years may be because of increased price of the products.WORKING CAPITAL TURN OVER RATIO A measurement comparing the depletion of working capital  to the generation of sales over a given period called as working capital turn over ration. This  provides some useful information  as to how effectively a company is using  its working capital to generate sales. WORKING CAPITAL TURN OVER RATIO YEAR| TOTAL SALES| CURRENT ASSETS| CURRENT LIABILITIES| WC| WCTOR| 2008| 40,946. 70| 8,686. 30| 8018. 6| 667. 70| 61. 32| 2009| 50,418. 70| 10,403. 70| 7811. 4| 2,592. 30| 19. 45| 2010| 57,937. 20| 11,981. 00| 10588. 7| 1,392. 30| 41. 61| 2011| 72,582. 90| 15,475. 70| 11952. | 3,522. 90| 20. 60| 2012| 91,393. 10| 19,927. 70| 16008. 9| 3,918. 80| 23. 32| Interpretation: Here working capital ratio is higher in the year 2008. This means that company may have adequate working capital for their operation in 2008. Working capital to ratio is very lower in the subsequent years (i. e. 2009 to 2012), it shows that company is struggled with inadequacy of working capital in that years. INVENTORY TURN OVER RATIO Inventory Turnover Ratio is one of the efficiency ratios and measures the number of times, on average, the inventory is sold and replaced during the fiscal year.Inventory Turnover Ratio formula is: year| Total sales| opening stock| closing stock| Avg stock| ITOR| 2008| 40,946. 70| 40,946. 70 | 42,954. 70 | 41,950. 70 | 97. 61| 2009| 50,418. 70| 50,418. 70 | 52,427. 70 | 51,423. 20 | 98. 05| 2010| 57,937. 20| 57,937. 20 | 59,947. 20 | 58,942. 20 | 98. 29| 2011| 72,582. 90| 72,582. 90 | 74,593. 90 | 73,588. 40 | 98. 63| INTERPRETATIONA low inventory turnover ratio is a signal of inefficiency, since inventory usually has a rate of return of zero. It also implies either poor sales or excess inventory. A low turnover rate can indicate poor liquidity, possible overstocking, and obsolescence, but it may also reflect a planned inventory buildup in the case of material shortages or in anticipation of rapidly rising prices. In our case the 2008 has the lower turnover rate. A high inventory turnover ratio implies either strong sales or ineffective buying (the company buys too often in small quantities, therefore the buying price is higher).A high inventory turnover ratio can indicate better liquidity, but it can also indicate a shortage or inadequate inventory levels, which may lead to a loss in business. Here the years from 2009 to 2011 there is constant turnover rate. RETURN ON INVESTMENT A performance measure used to evaluate the efficiency of an  investment or to compare the efficiency of a number of different inves tments. The objective of every firm is to earn a satisfactory return on capital invested. This is the measure of success i. e. it shows the overall profitability of the firm. ROI = PAT/ cap. Employed YEAR| PBIT| CAPILAT EMPLOYED| ROI| 2008| 5925. | 9,285. 00| 63. 81583199| 2009| 6075. 9| 10,944. 70| 55. 51454128| 2010| 10526. 9| 15,572. 20| 67. 60059593| 2011| 11636. 7| 19,753. 20| 58. 91045501| 2012| 14,086. 30| 24,877. 80| 56. 62196818| INTERPRETATION The above table and chart implies us, The ROI is higher in the year 2008. The Company gets 63. 82% as return on investment. This may because; in this year company sold more than the standard sales. So return on investment is increased. Company received lowest ROI in the year 2009 CONCLUSION: The Asian paints ltd is having an indifferent performance levels, they have both positive and negative performance indicators.The sales variance is for the last two years is favorable for the company, and also all other indicators such as cost va riance favorable for the firm. Another thing is that market share of the company shows a decreasing trend due to decrease in sales. The inventory and working capital of the company is also not good. So it is important for the company to focus on to improve sales volume with higher turnover, better maintenance of working capital. And to try to get more return on investment by adopt necessary measure and techniques.

Pathways to Education Essay Example | Topics and Well Written Essays - 3750 words

Pathways to Education - Essay Example The workforce sets off large and diverse; in one way or another, practically the whole society is connected with several form of institutionalized education. Education generally has been colored by the improved consideration that has been given to its financial and its wider social efficacy. However of particular interest is distinguishing movement of ideas, strategies and practices which has appeared during the last quarter of the twentieth century. Recognized variously as the new vocational grounding for working life, evolution from school to work or basically as vocational or technical education and training, this association has, in Britain and numerous other countries, been the basis of considerable and often controversial innovations in educational structures, content, methods and funding. "A main challenge is to recognize the education system, and it has engendered a growing volume of investigation and research, public policy plans, action in both the public and private areas of education, training and employment and sharp divisions amongst supporters and opponents" (Skilbeck, 1990). Pathways from education to working life are a generally defined vocationalisation that has been a common thread which runs across the education and, the employment policies of all country, whatever its level of growth, political system or geological location. The human capital theory in some form or other certainly long had extensive support across political and ideological boundaries: among them Adam Smith and Karl Marx theories are universal. The idea of education and training for creative work has played for long a considerable part in the Central European countries as it has worked in other parts of the world. Given the inevitability and the widely declared aim of reforming their economies, it is to be estimated that the development of education and training in these countries will keep a very strong vocational flavor, although on somewhat diverse ideological grounds. Today in typical industrialized countries education and training are fundamental to any programme of structural modification for the very obvious, reason that it is upon the educated and trained capability of the actors the people that the capability to redistribute and to put on from its benefits depends (Lauglo and Lillis, 1988; O'Dell, 1988). Bruce Raup and his co-workers long ago put it; 'the development of practical intelligence' is coming to be renowned as a main policy goal (Raup et al, 1943). In this respect, we have certainly pierced a new era. Whether conservative, full-time, paid employment for all or virtually all youth and young adults will persist to be conveyed by the advanced economies is a debatable point. It does not, though, vitiate the claims being made for ever higher levels of education and training, with grounding for work as one of the primary policy objectives. This new 'education era' is characterized not simply by a recognition of the need for what the OECD Ministers of Education referred to as "an excellence of education and training for all" (OECD, 1992a, 1992b 1992c). Comparability and precision of credentialed knowledge and skills across national limitations assume greater significance than ever before in the new Europe (Commission of the

Commercial case study Essay Example | Topics and Well Written Essays - 1500 words

Commercial case study - Essay Example The client in these contracts has no long term liabilities to the independent project manager who can be dispensed with if he/she fails to meet the terms of the contract. Moreover, the independent project manager can be compensated using a variety of payment mechanisms, the details of which have been presented in the report. Dobson (2004) and Frame (2002) believe that one of the most basic rules of project management is to focus on the triple constraints which are Scope, Time, and Cost. Any relaxation in any of these results in a snowball effect on the scope, late and over-budget project delivery, resulting in unsuccessful categorization of the project. An independent project manager gets to have an impartial view of the situation without any preconceived notions and biased relationships (Walker, 2002, p. 10). Moreover, it is difficult to influence an independent project manager through the existing negotiation power that may rest with the other parties involved. An independent project manager provides a critical analysis of the scope of the project without any conflicts of interest. Scope setting by the owner of the project often results in over-commitment whereas if done by the contractors often results in under-commitment. An independent view on the other hand provides a more balanced assessment of the situation. According to Ibbs and Kwak (2000), and Peter Morris (1999) procurement is an important component of project management. An independent project manager is largely unaffected by the balance of power in existing vendor relationships. Moreover, he can make unbiased decisions for the good of the project without the burden of existing relationships hanging over him. An independent project manager brings in a fresh perspective, a broad list of vendor options and experience of dealing with them, and best practices from the industry regarding contractual relationships. He will also be

How have attitudes in modern society changed in order to include Essay

How have attitudes in modern society changed in order to include people with Sen and disability - Essay Example Parents do not have adequate information on how to treat their kids, type of schools to take them, plus what to expect in their children (Burton 1996, p.33). For example, the city of Southampton has developed a way of helping children with Sen i.e. through early identification and intervention, improving the experience of the children and their families through clear and definite accessible information about services offered and also through building capacity through partnerships with other organizations. The local authority launched the Jigsaw service which brings about all health specialists and social care services for young people with learning disabilities under a single management. Services offered include; broadening the eligibility form to accommodate the child’s disability in the context of their family problem; strong focus on early child intervention and integrated working criteria between nurses and the social workers so that the kids will learn through a single well developed and integrated process (Burton 1996, p.27). There has been a strong focus on early identification, intervention and building capacities through strong established partnerships, with academic institutions to raise the levels and achievements of people with Sen. There are programs to support Sen Kids in schools. A lot of given work been conducted to improve the accessibility and number of information regarding the services and activities for the families of children with disabilities (Burton 1996, p.55). Disabled children like all other children experience bullying. These include; verbal abuse that can lead to their perceived impairment; physical violence particularly against children with physical disabilities; threats and intimidation; exclusion and isolation from their peer groups; manipulation and false friendships. Repeated bullying, which had not, been responded to have led the disabled kids to developing a negative self identity concerning their disability. Some kids have developed individualized responses in regards to b ullying. They feel that they should alienate themselves entirely from certain situations adapting their own behaviors’ (Burton 1996, p.66). Most of these kids fear reporting bullying when it happens due to the fear of retaliation, the teachers not believing them particularly amongst children suffering from Autistic Spectrum Disorder. Also, when these kids reported bullying to their teachers, they report often that the teachers never listen to them (Sally & Marian 1999, p.100). In order to prevent bullying, disabled kids believe that awareness should be created among other kids in order to understand and value disability. This should include disability awareness, equality trainings and vocations, lessons for teachers, students and even the staff to display positive picture of disability throughout the school. The disabled kids feel that these would develop their confidence and enable them build a positive self esteem and awareness of their rights of not to be bullied. Disabled children need to be understood. The staff and teachers should develop a positive and supportive relationship with the disabled kids (Burton 1996, p.82). The major discrimination that people with disabilities face is social discrimination. This often becomes

Leadership Styles Movie Analysis Review Example | Topics and Well Written Essays - 2500 words

Leadership Styles Analysis - Movie Review Example What follows is 2 hours of unabashed manipulation targeted less at impassioning racial synchronization than leaving the viewer with a lump in his / her throat and tears in their eyes. In these events, the theme of leadership dominates that environment of an extremely racist society which has to collaborate to achieve in their children’s football. Situational leadership holds the idea that someone changes his or her style of leadership in response to a given situation. Situational leadership appears to be more evident in the movie that any other type of leadership (Kippenberger, 2002). According to Blanchard and Hershey, the leadership type that is suitable for any given situation gets driven by follower development or readiness. Readiness gets normally based on factors like ability, skill, and experience, willingness, or confidence, motivation and commitment. Coach Herman Boone applies any type of leadership that suits the situation on hand, from autocratic dictatorship to dem ocracy. When the coach forces the teammates to share rooms with their different races teammates, a symbol of dictatorship is demonstrated, but it is for the best interest of the team. He changes his leadership when need arises to solve or implement any of his strategies, as we are going to see in the paragraphs below. Autocratic leadership remains an extreme system of transactional type of leadership, where a leader exercises high levels of authority over his or her team members or a society. People within the team get few opportunities to make propositions, even if these suggestions would be in the organizations or team's interest (Kippenberger, 2002). Most people tend to begrudge being treated like this. Hence, autocratic leadership generally leads to high level of rebellion and absenteeism. Also, the team's production does not gain from the creativeness and experience of each team members, making many of teamwork benefits lost. In the movie, the main leader is the character Coach Herman Boone. Coach Boone demonstrates qualities of a firm and inspirational leader. The main obstacle the Coach faces are changing the ethos of a football team in a way that the society did not agree with at that time. He makes autonomous decisions for the team. This type of leadership seems to work since the he is the only team member with the knowledge of the game. He must dominate to diffuse the skills to the young players (Kippenberger, 2002). Bureaucratic Leadership is also demonstrated in the movie. Bureaucratic leaders work by the book ensuring that the ruled and ruler follow procedures precisely (Kippenberger, 2002). This stands a very appropriate style especially when working with young people and in cases where a mistake will cost the team heavily. Coach Boone and some of his team leaders go by the book to play football despite being affected significantly by racism. A charismatic leadership style may appear similar to the transformational leadership style, where the lea der injects enormous dosages of enthusiasm into the team, and gets very energetic in driving the team forward. Coach Boone starts tackling the problem of blacks and whites integration from day one in the football training camp. The coach makes the team gets off from the buses and sit with an opposite race team mate, and then he goes ahead to make that person their roommate for the duration in the camp. Through Boone's discipline

Meditation for chronic pain backed by nursing research Paper

Meditation for chronic pain backed by nursing - Research Paper Example In this regard, the current discourse aims to determine what nursing research says about using meditation to manage chronic pain; and, according to the role of nursing, one seeks to determine if this modality is effective in treating chronic pain. Nursing Research on Meditation to Manage Chronic Pain The research article written by Chiesa and Serretti (2011) and entitled â€Å"Mindfulness-Based Interventions for Chronic Pain: A Systematic Review of the Evidence† proffered pertinent issues relative to using mindfulness-based interventions (MBIs) and mindfulness-based stress reduction (MBSR) techniques to alleviate chronic pain. As disclosed, â€Å"MBSR is a standardized group-based meditation program conceived in the late 1970s from the effort to integrate Buddhist mindfulness meditation with contemporary Western clinical and psychological practice† (Chiesa & Serretti, 2011, p. 83). The authors initially described techniques commonly applied in MBSR that focuses on body scan, sitting meditation, and yoga (Chiesa & Serretti, 2011). The findings revealed inconclusive evidence regarding the effectiveness of using MBIs as an intervention for chronic pain and to allegedly reduce related depression that ensues from the pain experience. In another study written by Morone, Lynch, Greco, Tindle, and Weiner (2008), the authors sought the participation of 27 older adults reportedly complaining of low back chronic pain. Through the use of mindfulness-based stress reduction (MBSR), in conjunction with diverse methods that aim to reduce pain, such as â€Å"distraction, increased body awareness leading to behavior change, better pain coping, and direct pain reduction through meditation† (Morone, Lynch, Greco, Tindle, & Weiner, 2008, p. 841), participants have noted in their respective diaries, significant improvement in managing pain, in well-being, in sleeping, and in attention-related activities. Finally, in the study conducted by Tul, Unruh, and Dick (2 011), the authors specifically aimed to determine how yoga, a form of meditation, serves as a means to address chronic pain. As specifically revealed, â€Å"the yoga program offered its participants a new way of engaging with their body resulting in heightened re?ection and self-awareness that enabled most participants to feel more control over their pain† (Tul, Unruh, & Dick, 2011, p. 440). As such, the meditative strategy accorded through yoga enabled the participants to refocus on more positive methods for relaxation that allowed them to channel their energies to meditation techniques rather than be fixated in the chronic pain. The research article written by Chiesa and Serretti (2011) actually included, through a tabular representation, the summary of previous studies conducted on the subject of using meditation as a means to alleviate chronic pain. The summary disclosed that 10 conclusive studies had focused on MBIs but generated different results, as above noted. As cle arly founded, â€Å"there is not yet suf?cient evidence to determine whether MBIs could be more ef?cacious than nonspeci?c interventions such as support and educational control groups for the reduction of pain and depressive symptoms in patients with chronic pain† (Chiesa & Serretti, 2011, p. 91). Meditation as Modality to Treat Chronic Pain As Seen through the Role of Nursing From the diverse results that were disclosed and which

Analyze the article Assignment Example | Topics and Well Written Essays - 250 words - 1

Analyze the article - Assignment Example he LED bulbs but affects the environment owing to a change in food chain from attracting more insects making them easy food for predators and being shipped away in ships. The article is about the use of LED bulbs that use 90%less energy than incandescent bulbs and â€Å"lasts 100,000 hours compared with 1,000 hours for tungsten filament light bulbs† (Zolfagharifard, 2014). However, despite being good for the environment, the article basing on the findings of New Zealand-based institute Scion, states that the LED lights have a problem to insects that are more attracted by LED spectrum of light. Blue light generated by LED lights attract insects and they â€Å"claim the attraction can be fatal, causing flies to be thrown off their usual path and into the jaws of predators, disrupting the food chain† (Zolfagharifard, 2014). The other concern is that LED light â€Å"near ports could attract flying pests, such as the gypsy moth (pictured), that are accidentally transported by ships† (Zolfagharifard, 2014). The article mainly deals with the impact of LED light attraction of on insects including high rate of insects being eaten by predators and transportation on ships and the relation of these on the food chain. The findings of the institute relating to the impact of the LED light is interesting and requires the need for better understanding the new technology to avoid harming the environment and altering the food chain. The impact of article to me is that it changes my view on the LED light that I have always believed to be a worthy invention and there is a need to determine ways to reduce the attraction of insects to LED

Supply chain Essay Example for Free

Supply chain Essay In a production business the supply chain is one of the most crucial components to ensure smooth operation. In the retail and FMCG industry, the business is only about an excellent supply chain. The quality of the product is actually secondary. But the concept is now also applicable for software industry as well, because now software’s are outsourced and delivery is also crucial. But how do we identify whether the supply chain is performing optimally. For a production line, the effect will be immediately evident from the hourly production rate. A minor change or alteration in the supply chain, will affect the entire production line. The rate per hour will get hampered and the work will get slowed down. In this situation one needs to identify the point where the supply chain is getting hampered. Once it is done, the job is to streamline it and bring it to its optimal efficiency by SWOT (Strength, Weakness, Opportunity and Threat) analysis. This will also reduce the cost and time will be saved. However, for a FMCG or retail sector, the identification is not immediate, because buffer stocks are kept. Hence, the shortage or the inefficiency is not easily identified. When you feel the shortage or overage of stocks you can understand the scenario that the supply chain is not functioning properly. Another key indicator is the reduction in sales figure. The sales will take a hit, if the goods does not arrive at the right time, stocks are few and the demand is either not getting fulfilled or the supply is more than the demand. In this scenario the best option or rectification is to shift to JIT concept of supply cycle. Â  This JIT (Just in Time) concept is very effective, because neither are you over-stocking nor under-stocking. Also, the cost is getting reduced along with optimization of time. The software sector is very new to this concept, but an early understanding will be of great benefit in the future. Identify the lacuna and structure an efficient supply chain.

What is a Responsible Enterprise?

What is a Responsible Enterprise? The purpose of this essay is to effectively communicate what constitutes a responsible enterprise. Throughout this essay, the aim is to discuss the changing role of business. Firstly, this essay aims to identify the key global economic and environmental challenges that we face. It will then proceed to set out the understanding of the phrase responsible enterprise, and how acknowledging, understanding and implementing responsible enterprise values and strategies might help address those challenges. It will then proceed to look at the roles and responsibilities of government and non-profit organisations and suggest why greater collaboration between business, government non-profits might be necessary in order to responsibly tackle the challenges that face us. Finally, it will synthesise the contents of the essay and conclude on the global challenges. The criterion of sustainability integrate three firmly interlinked elements: economic, environmental and social, and when successfully combined can lead to long lasting sustainability (Sheehan, 2009). Elkington (1997) proposed the triple bottom line in relation to sustainability, coining together the term people, planet, profit. (Elkington, 1997). The concept of responsible enterprise has a fundamental problem, as people and businesses conceptualise the planet as having abundant resources, hence leading people to believe that economic expansion has countless possibilities (Wadham, 2016). The responsibility does not solely reside with one party, but is contributed to by business, consumers and government. If the efforts of these people are successfully integrated, this triad can shape society (Wetherly and Otter, 2011). With the current status of the world, there are an inordinate amount of challenges that are faced as a global society. This essay will cover two in particular, in rela tion to the pillars of sustainability. The first pillar of sustainability is economic. The need for a favourable economic environment is important for businesses and their ability to grow dynamically. In addition to this, stability enhances the external economic environment in a fortunate way for companies as it creates certainty (Wetherly and Otter, 2014). However, due to the global financial crisis of 2008, uncertainty was spread worldwide and the ripples caused nine years ago are still subsiding. Economists failed to perceive the downfall of the US sub-prime mortgage market and were collectively blamed for starting a global economic crisis (Pettifor, 2017). Being such a wide scale catastrophe, starting with the superpower, a domino effect proceeded worldwide. One such effect had the International labour market describing it as a global job crisis (Shah, 2013). Jobs were cut as employers could not afford to keep them on, as a result people cut back on expenditure and stopped spending as much money which caused businesse s to suffer further. This caused a rift in the business market. It also meant developing countries who were finally improving, were knocked backed once again. As the crisis, caused food prices to rise, commodity prices are fuel prices to soar. Though the immediate focus of this essay is not on the social aspect of sustainably, it has just as much importance. It involves allowing natural communities and individuals to flourish in the present and future. It is a concept that aims to maximise community assets (Georgia Tech, no date). One key global challenge in relation to this, is the water crisis. Due to bad economics and infrastructure, people are dying, in the millions, from inadequate supplies. It affects a shockingly 40% of the worlds population and is increasing (The Water Project, 2016). Completing the triad, is environmental impact and it is becoming more apparent that acknowledging business impact is essential. A sustainable business pertains to organisations efforts for creating human benefits in relation to harmonizing their environmental aspects against their criteria with government and society (Crosbie and Knight, 1995). One major challenge that has created awareness is Climate Change. Involving shifting and uncreditable weather patterns that threaten production of food, to problems such as calamitous flooding due to rising sea levels. (United Nation, 2016). As a result, the impacts of climate change are catalysing negative impacts on the environment. In efforts to control environmental impact, The Paris Climate Change Agreement, made it a requirement for both developed and developing countries to limit their emissions to safe levels, by regularly reviewing their activity (United Nation, 2012). However, in terms of business it was found that only 37% of the wo rlds biggest companies were reporting complete data on greenhouse gas emissions (The Climate Group, 2013). This inhibits the full impact they could have and questions how responsible they are. With responsible enterprise being such a complex phenomenon, there is no consensus, thus no singular definition. The diverse interpretations encompass various concepts including corporate social responsibility (CSR), sustainability and corporate citizenship. Responsible enterprise as a whole is defined as when companies operationalise their corporate responsibilities in all of their strategies and business practices by developing relationships with stakeholders and by working to maximise sustainability of the natural environment. (Waddock and Rasche, 2012: 4). According to the definition provided, the focus of the company should not solely reside in one area, and responsibility should be applied into the core values of the company, in order to enable maximum performance. Along with the vast interpretations there are various models and beliefs about whether it is fundamental for a business to act responsibly. The neo-classical school of thought, believes that businesses can flourish, if a successful environment is created, however this is only possible if the company operates in a free market. As a result, people are free to choose how they behave, without government intervention (Wetherly and Otter, 2014). Friedman (1970) strongly supports this theory, affirming that the underlying principal is to increase profits and whosoever tries to be socially responsible is undermining the previous success a free society has attained, thus making them blind to the true aims of business (Friedman, 1970). However, the global financial crisis proved it was hard to argue in favour of a free market approach, with the collapse of the US free market being a prime example (Reynolds, 2008). Contrary to this belief, Evan Freemanà ¢Ã¢â€š ¬Ã… ¸s (1993) viewpoint is that a company has the responsibility to acknowledge their obligations to indirect stakeholders (Crane and Matten, 2015). In addition, Carrolls (1991) model of corporate social responsibility (CSR) argues the definition of CSR should encompass four levels; including economic, legal, ethical and discretionary or philanthropic responsibilities, as shown in the diagram above (Carroll, 1983). In essence, Carrolls definition brings together a range of interpretations, believing businesses should be conducted with the four elements in mind. However, the stages of the pyramid are not chronological and progressive, because it is possible to satisfy the ethical importance whilst failing to meet the legal obligations (Griseri and Seppala, 2010). Also, the diagram leads you to assume Carroll meant CSR as having a hierarchical nature, therefore leading to believe, the higher you go on the pyramid, the more important the s tage is. However, Carroll stipulates that the economic and legal domains are the most fundamental, while philanthropic responsibilities are considered less important. (Schwartz, 2011:90). An example of a company using CSR strategies is Costa Coffee. They have various initiatives, but one of their most impressive aspects is their alliance with Rainforest Alliance Certified Farms. Farms, forests and tourist businesses who comply with their extensive sustainability criteria are rewarded with the seal of the green frog. This includes meeting Costas environmental protection, economically viable and social criterion. Ultimately they helps address challenges such as deforestation, climate change, alleviation of poverty and helps transform business practices. Costa as a business within the UK use smart coffee machines and 100% renewable energy supply to reduce carbon emissions. They also work in alliance with farmers from England and Wales, therefore contributing to economic growth and supporting small businesses (Costa, 2013). Furthermore, responsible enterprise can be defined using the concept of corporate citizenship (CC). Crane and Matten (2010), believe it should be associated with the corporations action towards governing the social, political and civil rights towards citizens (Crane and Matten, 2010). CC has reference towards the relationship between the individual and the state. In other terms, the rights of the individuals are protected and preserved by the government. Also insinuating that companies have a set of rights and duties to the community (Grisseri and Seppala, 2010). Business ethics is also a part of responsible enterprise. It is a form of applied ethics involving the study of correct conduct in relation to business. Ethical egoism is the perception that the right thing means doing what is best in regards to ones own interest. For example did Coca-Cola implement sustainability to improve their reputation after reports found that the soft drink giant were funding reports that claimed soft drinks were not a cause for obesity (Nestle, 2015). This is a cause for ethical concern as sugary drinks have proven to cause type-II diabetes. Regardless of this they were spending generously to convince researchers otherwise. By doing this, they relate to the theory of a free market by doing anything to gain and increase profits, and disregarding moral issues by lying and bribing. Therefore, it is hard to distinguish whether firms are applying responsible initiatives as a personal interest or genuinely for others, as some claim of being universal, but dont act correctly (Grisseri and Seppala, 2010). Governments should view communities holistically and enact decisions that are mutually beneficial to the environment, economy and health of society (Hitchcock and Willard, 2006). REF. Foreseeing the world demand for sustainability allows governments to adapt by transitioning into an economy that is more efficient. Thus, allowing them to take a lead and come out in a strong position to look out for their industries and communities (Peck and Gibson, 2000). In recent years, the importance of addressing the challenges of sustainability is being recognised by governments at every level (Bell, 2002). A key factor for the government being able to assist positively in all areas of the country, is decentralisation. Centralisation focuses on the retention of authority within the higher brackets of the government. Whereas decentralisation, systematically distributes power and authority throughout the system (Sidana et al., 2015). The need for this system has been acknowledged with the ex-prime minister, David Cameron, recognising and stating centralised national blueprints dont allow local solutions to major social problems and centralisation creates a great distance in our democracy between the government and the governed. (Cameron, 2010). This was further enacted as the Localism Bill came into fruition in 2011 and became an act of parliament. The Localism Act 2011 aims to devolve greater powers to councils and neighbourhoods and give local communities more control. (Localism act 2011 UK parliament, 2011). In regards to the UK government, as a whole, the Green Money Journal (2002) r esearch found that over  £120 billion was invested in institutional and retail funds with active social responsible policies, and sustainable development (Higgs, 2002). In essence, this shows that the government, in the last couple of decades, started to see the requirement of responsibly investing to meet its agendas. This caused for government to intervene. As a result, governments have adopted responsibility of driving CSR, through laws, regulations and tax (Moon, 2004). Firms thrive when markets are operating well, and are simultaneously increasing economic growth. However, allowing markets to take a completely free market approach, doesnt always translate positively. As a precaution, the government sets legislative and institutional frameworks for markets and companies to operate in (HM Government, 2009). By intervening, it means markets are not independent from the government. They intervene through taxes and subsidies, which can be used to influence incentives of firms in the private sector. For example, subsides can be used to increase financial support for businesses with potential, through government grants, soft loans, and taxes (HM Government, 2009). In the way of sustainability, the Environmental Tax was implemented by the UK in order to protect the environment from pollution by promoting positive environmental behaviour and attempting to reduce the damages (Green fiscal commission, 2011). Introduced in 2001, under the environmental tax, wa s the Climate Change Levy (Office for National Statistics, 2016). By businesses demonstrating that they are operating officially and complying with the needs of the environment, they can get relief from some taxes (Environmental taxes, reliefs and schemes for businesses, 2016). This ensures businesses to be more sustainable, due to the actions of the government. In relation to the financial crisis of 2008, the fear spread throughout the entire world economy, instilled confidence in the need for government intervention. This was to inhibit the actions of the market through regulation, in specific reference to the banking sector, in order to prevent history repeating itself (Wetherly and Otter, 2011). An argument for government and businesses collaborating is due to the fact that SMEs equate to 99% of businesses within the EU, making their impact strong (Wetherly and Otter, 2011). They are huge drivers of the economy with 85% of net jobs being created by them, making them favourable. Through the different levels of government, e.g. regional and local, it is easier to provide attention to business growth in one area. It also means SMEs can collaborate with governments, through initiatives, in benefit for themselves, the consumer and the environment. For example, the Welsh government placing  £2m into SMEs to find solutions for the challenges facing the public sector (Welsh Government, 2015). Non-profit organisations (NPO) are also referred to as the voluntary or third sector. Salmon et al (2003) sets out five characteristics for non-profit entities. He states that they are; organisations, private, non-profit distributing, self-governing and voluntary (Salamon et al, 2003). NPOs, have become increasingly present as they have shown to provide a middle way platform, in the sense that previously, dependence was either on the market or the state (Salamon et al, 1999). Most theories of the role of non-profit sector embrace the idea of a trichotomy, which refers to the government, for-profit and non-profit organisations, as they are all involved in the production of goods and services (Powell and Steinberg, 2006). An NPO is exempt from paying tax and is formed for various purposes. The money earned does not financially benefit the trustees and shareholders, but instead is used to pay for its own expenses (Jackson, 2003). This is a main difference between private sector business es and NPOs, as the private sector focuses on the motive of profit (Wetherly and Otter, 2011). Examples of non-profit enterprises include: The Co-Operative, Toms Shoes, and Unicef. In conjunction with these examples, there are other enlightening examples, One World Health is the first non-profit pharmaceutical company that develops medicine at affordable prices for the developing world (OECD, 2010). NPOs therefore acknowledge meeting urgent societal challenges and promoting sustainability. In regards to NPO and Government, awareness has increased that governments who act alone cannot achieve the changes required for sustainability to great effect. As a result, governments need to implement initiatives to increase participation by all sectors of society (Bell, 2002). As a result, partnerships between the three sectors are required. Over the years it has become increasingly apparent that organisations want to work in conjunction with one another. Partnerships are when organisations work together to address tasks by sharing resources, expertise and risk. Furthermore, popular partners of non-governmental organisations has been with the United Nations and Government agencies (Grisseri and Sepala, 2010). To conclude, there are various interpretations and concepts of what constitutes a responsible enterprise. Ultimately, driving sustainability and CSR initiatives are crucial in order to come under the scope of being responsible. Although, this essay only covered a couple global challenges, there are more struggles of the world that are increasing rapidly. These struggles pertain to economic, social and environmental issues. By acknowledging and implementing sustainable solutions we can extend the life of the Earth, increase worldwide social welfare and drive economic growth, in preparation for generation to come. Overall, collaborations are necessary by the government, business and non-profit organisations. By coming together, each can contribute to enhancing sustainability to address the challenges faced. Governments contribute by making sure businesses are aware by implementing legislation and initiatives. Businesses can help by making the products and services they offer make an impact by making consumers aware of the need for sustainability, and also attaining certified stamps to support well established companies that are actively making a difference. Regarding NPOs, they address the challenges by raising awareness, and helping out by investing in the issues that really need help and support. Due to the far reaching involvement sustainability requires. It is evident collaborations are needed as the three models cannot exist in pure form because markets everywhere have already developed in co-operation with the government, voluntary sector and even wider society. References BBC (2008) US superpower status is shaken. Available at: http://news.bbc.co.uk/1/hi/business/7645743.stm (Accessed: 8 January 2017). In-text citations: (BBC, 2008) Bell, D. (2002) Available at: http://www.bus.tu.ac.th/usr/wai/xm622/conclude%20monsanto/bell11062002.pdf (Accessed: 18 January 2017). Cameron, D. (2010) David Cameron: This is a government that will give power back to the people. Available at: https://www.theguardian.com/politics/2010/sep/11/david-cameron-government-power-people (Accessed: 15 January 2017). In-text citations: (Cameron, 2010) Carroll, A.B. (1999) Corporate Social Responsibility: Evolution of a Definitional Construct, Business Society, 38: 268-295 Cassandra Higgs, The UK SRI Market Booms, Green Money Journal February/March 2002, http://www.greenmoney.com/gmj/feb-march2002/3.htm) Costa, 2017 (2013) Social responsibility. Available at: http://www.costa.co.uk/responsibility/ (Accessed: 18 January 2017). Crane, A. and Matten, D. (2016) Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Fourth edn. Oxford, United Kingdom: Oxford University Press. In-text citations: (Crane and Matten, 2016 Environmental taxes, reliefs and schemes for businesses (2016) Available at: https://www.gov.uk/green-taxes-and-reliefs/climate-change-levy (Accessed: 17 January 2017). Friedman, M. (1970) The Social Responsibility of Business is to increase its Profits. The New York Times, September 13. Georgia Tech (no date) What is social sustainability? Available at: https://serve-learn-sustain.gatech.edu/sites/default/files/images/inss-social-sustainability.pdf (Accessed: 18 January 2017). Green fiscal commission (2011) Green fiscal commission: GFC final report. Available at: http://www.greenfiscalcommission.org.uk/index.php/site/about/final_report (Accessed: 17 January 2017). Griseri, P., Seppala, N. and Griseri, T. (2010) Business ethics and corporate social responsibility. United Kingdom: International Thomson Business Press. In-text citations: (Griseri, Seppala, and Griseri, 2010) HM Government (2009) Government in markets why competition matters a guide for policy makers. Available at: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/284451/OFT1113.pdf (Accessed: 17 January 2017). Jackson, A. (2003) What is a non-profit business? definition example business plan video lesson transcript. Available at: http://study.com/academy/lesson/what-is-a-non-profit-business-definition-example-business-plan.html (Accessed: 17 January 2017). Localism act 2011 UK parliament (2011) Available at: http://services.parliament.uk/bills/2010-11/localism.html (Accessed: 15 January 2017). In-text citations: (Localism act 2011 UK parliament, 2011) Moon, J. (2004) Government as a driver of corporate social responsibility: the UK in comparative perspective. Nottingham: University of Nottingham. (Research Paper Series, No. 20-2004). Nestle, M. (2015) Coca-cola says its drinks dont cause obesity. Science says otherwise coca-cola says its drinks dont cause obesity. Science says otherwise. Available at: https://www.theguardian.com/commentisfree/2015/aug/11/coca-cola-obesity-health-studies (Accessed: 18 January 2017). Office for National Statistics (2016) Environmental taxes -2014. Available at: http://webarchive.nationalarchives.gov.uk/20160105160709/http://www.ons.gov.uk/ons/dcp171776_405555.pdf (Accessed: 17 January 2017). Organisation for Economic Co-operation and Development OECD (2010), SMEs, Entrepreneurship and Innovation, OECD Publishing Pettifor, A. (2017) I was one of the only economists who predicted the financial crash of 2008 in 2017 we need to make urgent changes. Available at: http://www.independent.co.uk/voices/brexit-economy-economists-predict-financial-crash-recession-2008-michael-fish-austerity-cant-solve-a7513416.html (Accessed: 8 January 2017).In-text citations: (Pettifor, 2017) Powell, W.W. and Steinberg, R. (2006) The nonprofit sector: A research handbook. Available at: https://books.google.co.uk/books?hl=enlr=id=7n8dPi2ew9YCoi=fndpg=PA1dq=non+profit+organizations+vs+non+governmental+organizationsots=1ApSnto1ZLsig=mffDcFydPU52CjQTLipiVzJm2_E#v=onepageq=non%20profit%20organizations%20vs%20non%20governmental%20organizationsf=false (Accessed: 16 January Salamon et al (1999) Global civil society dimensions of the nonprofit sector. Available at: http://ccss.jhu.edu/wp-content/uploads/downloads/2011/08/Global-Civil-Society-I.pdf (Accessed: 16 January 2017). In-text citations: (Salamon et al, 1999 SALAMON L, SOKOLOWSKI S and LIST R. (2003) Global civil society: An overview. (Baltimore: Johns Hopkins Center for Civil Society Studies,) Schwartz, M.S. (2011) Corporate social responsibility: An ethical approach. Peterborough, Ont.: Broadview Press. 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(2014) The business environment: Themes and issues in a globalizing world. 3rd edn. Oxford: Oxford University Press. Case Study: A Italian Restaurant In East London Case Study: A Italian Restaurant In East London The nature of the project is starting a Italian restaurant in east London. We decided a place which is Mile end. Restaurants are one of the most highly regulated businesses. According to the National Restaurant Association, the restaurant /industry sales are expected to reach a record $537 billion in 2007 and there are approximately 935,000 restaurant-and-food service outlets. With 12.8 million employees, the industry is the largest employer. In order to open restaurant, I need to do first business plan. Project objectives Opening new Mezzo-Mezzo Restaurant in Mile End area will meet the following set of objectives: Achievement of companys objective which includes maximisation of shareholders wealth. Fulfil its growth organically. Accomplishing customers requirement such as easy access to our Restaurant and good customer services. Industry Analysis Although the restaurant industry is very competitive, the lifestyle changes created by modern living continue to fuel its steady growth. More and more people have less time, resources, and ability to cook for themselves. Trends are very important and this restaurant is well positioned for the current interest in lighter, healthier foods at moderate to low prices. The Restaurant Industry Today The food service business is the third largest industry in the country. It accounts for over $240 billion annually in sales. The independent restaurant accounts for 15% of that total. The average American spends 15% of his/her income on meals away from home. This number has been increasing for the past seven years. In the past five years the restaurant industry has out-performed the national GNP by 40%. The reasons given by the Folkney Report (November 1994) are 1) lifestyle changes, 2) economic climate, and 3) increase of product variety. There are 600 new restaurants opening every month and over 200 more needed to keep pace with increasing demand. Future Trends Strategic Opportunities The predicated growth trend is very positive both in short and long-term projections. Folkney states again that as modern living creates more demands, people will be compelled to eat more meals away from home. The DMR Industrial Report (April 1995) estimates this as high as 30% over the next five years. In 1988 The National Restaurant Association released the Foodservice Industry 2000 report that forecasted how the industry might look in the year 2000. Some highlights from the panels findings: Consumers will spend a greater proportion of their food dollar away from home. Independent operators and entrepreneurs will be the main source of new restaurant concepts. Nutritional concerns will be critical at all types of foodservice operations, and food flavours will be important. Environmental concerns will receive increased attention. Feasibility Study Financial Feasibility A Financial Feasibility study is an assessment of the financial aspects of something. This project has been assessed in terms of its financial feasibility and it viability in terms of cost and benefit analysis. The benefit that can be derived from this project will outweighs it initial cost. Taking into account performance of restaurant with similar size in Wembley area, I have used those performances as to project the expected cash flows where on average they both generate  £10,000 per week. Since this will be likely because of the recent economic situation, but an am optimistic that this store will be able to general  £10,000 per week. Operational Feasibility I recommends that this restaurant will be able to achieved these targeted payback period of five months to recoup the initial investment. This analysis has been shown below: Revenue per month:  £78,350/5 =  £15,670 Revenue per staff per operating hours:  £78,350/ (10*8) =  £980 as part of company training policy, all staff will be well trained to deliver excellent customer service standard. Revenue per week:  £15,670/5 = £3,134 Social and Environment Feasibility I have undertaken a market a market research and environment scanning to ascertain whether there will be interest on our restaurant, what is the demographic settlement like in terms of food. My study indicated that most people will like our food because we will provide different kind of variety. Timescale In order to open a restaurant, we need to prepare business plan first. It will take around 1 month. About finding location and finding restaurant name will take 1 month. Finance the business will take 2 month because sometimes it takes time. Installation of electricity and equipment will take also 1 to 2 month. And last we need to obtain business licence. Task-1.2 SWOT Analysis SWOT Analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favourable and unfavourable to achieving that objective. Strengths Brand equity The Restaurant location ( Mile End area ) Consistency of food We will offers consumers choice, reasonable value and great service Price is cheaper than others We have take-away option We have different menu items Weakness Quality and taste of products Our restaurant is new and not established Our restaurant has poor disabled facilities We have limited funds Opportunities A new office complex is being built near by A new housing development is planned Threats The high street brand is moving into the area A main competitor has lowered their prices Our operating costs are set to increase PEST Analysis PEST analysis stands for Political, Economic, Social, and Technological analysis and describes a framework of macro-environmental factors used in the environmental scanning component of strategic management. Political Factors This relates to direct impact of political influences and it impacts our project. In the case of this project local council will support to our business because it will create jobs as well as optimize councils tax revenue. Especially creating job is a major priority for the national government so they will be in support of the project. And also there will be less political risk that will affect this project such as government rejection of the propose moved, increased in tax at present time in very unlikely. Economic Factors The general economic environment shows that spending level among some people individual will fall due to difficulty in gaining credit but most young people with relative disposable income can at least spend and these are the people we are targeting. Social Factors Social factors include the cultural aspects and include health consciousness, population growth rate, age distribution, career attitudes and emphasis on safety. In this area I have undertaken a market research and environment scanning to ascertain whether there will be interest on our restaurant food. My study indicated that most people are Asian in Wembley area and will be interested in our Asian. . Technological Factors Technological factors include ecological and environmental aspects, such as RD activity, automation, technology incentives and the rate of technological change. Here the impact of technological changes which we already possessed will help the company to gain competitive advantages such as e-commerce. Stakeholder Analysis Stakeholder Analysis is a vital tool for identifying those people, groups and organisations that have significant and legitimate interests in specific urban issues. Clear understanding of the potential roles and contributions of the many different stakeholders is a fundamental prerequisite for a successful participatory urban Governance process, and stakeholder analysis is a basic tool for achieving this understanding. The Stakeholders are; Customers Suppliers Employees Shareholders Customers Each of the stakeholders will have different expectation of an organisation. They try to engage with customers. They provide sales information, monthly monitoring of views. Their customer question time meeting help to identify and respond to changing customers needs. Suppliers The relationship of interests between an organisation and its suppliers can be seen as very similar to that between the organisation and its customers, but reversed. They do regular visits, meeting and discussions with suppliers. They have direct relationships with important raw material suppliers. Suppliers stock the business with all its business supplies. Suppliers may want an increase in wages. Suppliers have an interest in ongoing and mutually beneficial business relationships, and they expect to be paid on time. Employees The Company try to engage with employees. They have many ways such as internal communications including an employee magazine and regular business updates. Employees many want an increase in pay rise. Staffs have a very big interest in the business in the form of wages, bonuses, discounts and holidays pensions. Employees interests may be seen as the assertion of certain rights deriving from what is seen to be acceptable in the way in which employees are treated within society. Shareholders The Company have shareholders. They do collection of feedback questions from individual shareholders. Shareholders are the owners of a company. Their only real involvement in the organisation will be at the Annual General Meeting, when they are called upon to approve, by a vote, the overall direction of the organisation and the senior management team responsible for achieving that direction. Oftentimes, the only difference between floating and drowning is the direction. Without restaurant financial analysis, a restaurant may be face down without even knowing it. Restaurant financial analysis analyzes performance metrics such as profits and losses, cash flow, cost of sales and cost of labour. By assessing this data, operators can evaluate their finances and establish systems and structures to keep their restaurant afloat. Restaurant financial analysis performance metrics Profits and losses Whether we are produced monthly or weekly, profit and loss statements give restaurant operators a broad overview of their sales history. But the information only becomes useful when broken down to reflect, cost of sales, cost of labor and other overhead costs. A restaurant financial analysis assesses profits and losses with a critical eye to determine specific areas that should be improved upon. Cost of sales A restaurants cost of sales, sometimes referred to as cost of goods, is the sum of all expenses associated with producing the menu items. Should food costs be running at 20 percent or 40 percent? The answer can vary depending on a restaurants positioning (fast casual, casual or upscale) and menu mix. Restaurant financial analysis can help operators determine where their cost of sales should be by building theoretical food and beverage costs. Cost of labour Cost of labour is another contributor to cost of sales. A fine line exists between overstaffing a restaurant and scheduling enough employees to run a restaurant effectively. Sensible scheduling and employee productivity are the best ways to control cost of labour. In addition, tools should be available to assess mid-shift needs. Many restaurateurs are reluctant to phase out employees in a timely fashion. Restaurant financial analysis can review payroll reports, sales reports and customer counts to optimize scheduling and productivity and decrease cost of labour. When to undergo restaurant financial analysis Opening a new restaurant When opening a restaurant, restaurateurs can use financial analysis to predict their success. A restaurant financial consultant can draft a five-year plan and financial forecast based on industry and segment standards. Financial analysis can also be used to establish financial systems for a new restaurant. Controls for cash handling, inventory, payroll and daily sales reconciliations should be established well in advance of a restaurant opening. By implementing these systems early in the game, a restaurant can effectively monitor them, giving it a greater chance of succeeding financially. Purchasing an existing restaurant Before purchasing an existing restaurant concept, restaurateurs should conduct financial analysis and feasibility studies to determine the profitability potential of the operation. This can be estimated by evaluating patterns and trends in the restaurants past performance and estimating the effect of anticipated changes. Running an operating restaurant Restaurant financial analysis is not just for new operations. Generally, it is most beneficial for restaurants already in operation. Whether a restaurant has been in business for a year or 20, financial analysis can help identify losses and hidden costs. That information will help establish appropriate financial systems or refine existing ones to keep money from slipping through the cracks. Who can perform a restaurant financial analysis? Restaurant financial analysis shouldnt be performed by just any financial consultant. It is best to work with a consultant that specializes within the restaurant industry. The main goal of restaurant financial analysis is to help operators understand how their restaurant can become more profitable. A restaurant-specific consultant can explain the analysis process and their findings in terms that restaurant operators will understand. A financial consultant will know the target performance metrics for specific restaurant categories and the industry as a whole. They can provide guidance for the selection and implementation of point-of-sale and accounting systems and show operators how to get optimum results from these systems. A financial consultant can help restaurant operators build the necessary tools to pull and analyze their own financial reports. Ultimately, financial analysis should be ongoing, becoming an everyday part of a restaurants thinking. Restaurant financial analysis doesnt just keep a restaurant afloat, it helps their business soar. Task-1.3 Market Competitively and Activity This project will fit the business strategic of the restaurant because it will help gain competitive advantage, create new market for potential customers, gain market share in as well as responding to changes in business environment, increase profitability, establish local branch, obtaining new customers, expansion of business and improve companys image which could be achieved since there is an existing market gap which we can fill via Ansoffs matrix. Marketing Analysis shows that this project will make the business more competitive in the following ways: Demographic population: In west London area, the population is very high. There are many Asian restaurants available in the area. And the all restaurants provide good services and good food. Food variety: The social society will be interested in our food because we will provide variety in the food along with music. Market gap: the economic feasibility have highlighted that our competitors are doing well in these area. Industry Trends Studying industry trends is one of the first steps in conducting a market analysis. It will help you identify opportunities and threats in the industry that may affect your profitability. Consider the following Food Service Industry 2000 Trends, reported by the National Restaurant Association: Consumers will spend a greater portion of their food dollars away from home; Competition in the food service industry will be more intense as growth continues; Major food service chains will increase their shares of both sales and units; Independent operators will be the main source of new restaurant concepts; Nutritional concerns will be critical at all types of food service operations; and Service will become a more important point of differentiation. Industry Tends Checklists: Growth in Industry Sales Quick-service vs. table-service Chain vs. Independent Types of restaurants (steakhouses, ethnic) Catering Deli, bakery and takeout operations Monthly/seasonal dining out patterns Industry sales outlook Market Demand Economic trends Consumer confidence Demographic trends Food away from home trends Factors that motivate one to dine out Eating habits of different market segments Menu Preferences Appetizers/soups Entrees Sandwiches Desserts Nutritional concerns Menu pricing Alcoholic beverage consumption Vegetarian trends Restaurant Success Factors New and popular concepts/themes Customer service innovations Pricing practices Food production methods Labour saving techniques Debt-to-Sales ratios and other statistics Legislative and Regulatory Issues Business meal tax deductibility Health insurance Wage and hour requirements Americans with Disabilities Act Competitive Strategy There are three major ways in which we will create an advantage over our competitors; product identity, quality, and novelty high employee motivation and good sales attitude Innovative and aggressive service options The restaurant will be the only restaurant among all the competition which focuses the entire menu on healthy, low-fat cooking. Each of the competitors offers at least one healthy selection on their menu. The target market will perceive the restaurant as the destination location for healthy, low-fat cooking. The main points are Pricing, Location, Reputation, Image/Brand, Choice/Variety, Service and Atmosphere. References www.essortment.com www.awib.org www.mplans.com www.virtualrestaurant.com http://www.bplans.co.uk/steak_buffet_restaurant_business_plan/financial_plan_fc.cfm Part 2 Task 2.1 Resources Materials: Rented property from an individual landlord in west London as a perfect location for the new restaurant to be open, this is critical factor in terms of visibility and easy access of the restaurant for our customers. Equipments: Different kinds of restaurant will require different kinds of equipment. Typically equipment needed to open a restaurant includes a service kitchen (oven, microwave, heat lamps, prep tables and dish washer, fryers, boilers, refrigerators (table, chairs, spoon, glasses and cash registers). Labour: Ten staff normal standard hours (8 hours per day) and contractors the fixed day of work for one month. Finance: Most banks and lenders require you to put some of your own money into the business and contrary to popular belief, they do lend money for businesses. The project financed can be source from long term borrowing from bank in Iceland of  £50,000 to finance the project deliverables. Cost Associated With Resources These are one-off capital cost required immediately to deliver project deliverables. Materials: property rent in west London area will requires a normal rental agreement with the landlord. A deposit of  £15,550 plus one months rent in advance including council tax will be require total  £32,350. Equipments: Kitchen equipment will cost  £10,000, boiler will cost  £2000, till and it maintenance will cost  £12000 and general things e.g. tables, chairs will coat  £8000. Labour: External contractors for refurbishment are expected at  £12,500 this will includes: electrician, refurbishing the restaurant and painting the restaurant. Sources of Finance The project financed can be source from long term borrowing from bank of  £78,350 to finance the project deliverables. They could be approach on the based that this project will recoup its initial investment within four months time; and that revenue generate can be used to pay of principal loan plus interest. Budget for the Project This project has been budgeted on the grounds of Zero based budgeting which involves identification of tasks to be performed and then funding resources to complete the task independent of current resourcing it ensure that resources are efficiently allocated. The project budgets have been made on this bases with each cost justify in terms of their usage in the project: Resources £ CostMaterials32,350Equipments32,000Labour12,500Miscellaneous expenses1,500Total78,350 Cost Benefit Analysis Cost Benefit Analysis is typically used by governments to evaluate the desirability of a given intervention; it is an analysis of the cost effectiveness of different alternatives in order to see whether the benefits outweigh the costs. The aim is to gauge the efficiency of the intervention relative to the status quo. The costs and benefits of the impacts of an intervention are evaluated in terms of the publics willingness to pay for them (benefits) or willingness to pay to avoid them (costs). Inputs are typically measured in terms of opportunity costs the value in their best alternative use. The guiding principle is to list all of the parties affected by an intervention, and place a monetary value of the effect it has on their welfare as it would be valued by them. Years0123Present value78,3503,90,1801,090,8601,072,163Probability50%50%50%Certainty equivalent1,95,0905,45,4305,36,082D.F 9%1.0000.8800.9450.820Present value(75,000)1,71,6795,15,4314,39,587NPV £10,51,697The project is viable because it will yields to shareholder wealth creation of about  £2.01 million in three years time. However incorporating rick to the cash flows using certainty equivalent, and for the fact that current economic climate in terms of spending will affect all industries, I am certain that the 50% of the cash flows will be generated in each of the years. This is show below: Most restaurants use a system of 12-month or 13 four-week periods to track their annual budget. By breaking the budget down into these types of sections, it is easier to see when money is moving in and out of the restaurant. Anticipate Your Costs In the restaurant, budgeting is often a game of balancing costs and income. In fact, a budget is much like a profit and loss (PL) statement extended over a longer period of time. Be prepared to account for the following costs in your annual budget: Rent or mortgage payments Taxes Insurance Labor/payroll Utilities Loan payments Operational supplies Repairs and maintenance Marketing Training Food service professionals suggest that you plan to spend about 30 percent of your budget on food, 25 percent on labour, 10 percent on rent or mortgage, and 3 percent on utilities.1 The rest goes in small parts to operational expenses, marketing, taxes, maintenance and other variable costs. These are simply estimated guidelines to follow, as every restaurants expenses and budget are different. Look below for a graphical representation of these suggested expenditures: Know Your Breakeven Point . It is the bare minimum amount of sales the restaurant operation needs to bring in to survive. It is important to know your restaurants breakeven point so that future financial decisions can be made in hopes of making a reasonable profit. Analyze Your Financials Every Period Examining your PL and your budget on a weekly and monthly basis will help you keep your bases covered in terms of realizing your expenses and income. Evaluate your budgeted operating expenses and your actual expenses, as well as the net profit you anticipated and what your restaurant actually made. Make a note of any areas in which your expenses exceeded your budgeted amount. When budgeting for the year, especially if you are doing so for the first time, it helps to have a budget worksheet. Download a sample budget worksheet to your own back office computer. Cost of Goods Sold The cost of goods sold was determined by taking actual Profit and Loss statements from various restaurant concepts and then using our pricing structure and guest counts to arrive at costs. Management Payroll Figures are based upon the use of five managers per unit at our maximum bonus and salary levels. If we use four managers per restaurant, this will lower our payroll. Fixed and Variable Expenses The various fixed and variable expenses were determined by taking actual numbers from several different restaurant concepts. Marketing Fees These funds will be used for the production of various marketing materials. Advertising These funds will be used, if necessary, to maintain our sales at projected levels. If we are running significantly ahead of our sales projections, then these funds may not be necessary. Management Fees We will use these pounds for accounting and payroll services of our firm. As we grow in size, this cost burden will shrink per store due to efficiencies in volume. Important Assumptions The financial plan depends on important assumptions, most of which are shown in the following table as annual assumptions. The monthly assumptions are included in the appendix. Interest rates, tax rates, and personnel burden are based on conservative assumptions. Some of the more important underlying assumptions are: We assume a strong economy, without a major recession. We assume, of course, that there are no unforeseen changes in consumers tastes or interests to make our concept less competitive. Introduction This report is concerned staff training and development it related cost associated to this project. The company sales force plays a vital role in delivering better customer services and each member have different training needs depending our their position. The companys their future depends on nurturing great individual talent and providing an environment where staff can flourish personally and professionally. Successful training will help to develop the following skills. Deliver excellent customers Well motivated Increase morale Improved job and staff performance. Recruitment takes place from the point when a business decides that it needs to employ somebody up to the point where a pile of completed application forms has arrived in the post. Selection then involves choosing an appropriate candidate through a range of ways of sorting out suitable candidates leading to interviews and other tests. Training involves providing a range of planned activities that enable an employee to develop the skills, attitudes and knowledge required by the organisation and the work required. A job description is also helpful because it sets out: The job description can be sent out to potential candidates along with a person specification, which sets out the desirable and essential characteristics that someone will need to have to be appointed to the post. A variety of media will be used to attract applications e.g. national newspapers for national jobs, and local papers and media for local posts. Objectives of Training and Development The main objectives of staff training and development are to improve the qualities of the trainee, formulation of objectives for different needs and ways of achieving it. The training objective is very important because it determines the designed and content of the training programmes. Contents of the training remain the same no matter the type of training involved. It is to increase personnel efficiency, professional growth and smooth and more effective organizations operations. Methods of Training and Development On the job training/coaching: This relates to formal training on the job. A worker becomes experienced on the job over time due to modification of job behaviours at the point of training or acquisition of skills. Induction/orientation: This is carried out for new entrants on the job to make them familiar with the total corporate requirements like norms, ethics, values, rules and regulations. Apprenticeship: A method of training where an unskilled person understudies a skilled person. Demonstration: Teaching by example, whereby the skilled worker performs the job and the unskilled closely observes so as to understand the job. Vestibule: This is done through industrial attachment for the purpose of skills and technology transfer. It is therefore achieved through placement of an individual within another area of relevant work or organization. The effect is the acquisition of practical and specialized skills. Formal Training: A practical and theoretical teaching process which could be done within or outside an organization. When training is carried out inside an organization, it is called an in-house training. Off-house training is carried out in professionalized training areas like: Universities, Polytechnics and Professional Institutes. Cost of Training and Development The cost of training will be the time of each individual at their contracted hourly rate for the two days which will last for three hours a day. . However management training will cost the company in terms of travelling, refreshments, days attended, guaranteed hours of eight hours. Plan and Agreed Timescale for this Project The plan and agreed timescale for the management and implementation of the project, services and process are detail below using Gantt chart below: The Plan and Implementation of this Project is show in chart below: Activities Obtain business licence Installation of electricity No. Of MonthsTask to be Achieved1 Prepare business plan1Finding a location2Finance the business1Finding restaurant name1Installation of Equipment1Installation of electricity and CCTV1Obtain business licence Installation of equipment and CCTV Finding restaurant name Finance the business Finding a location Prepare a business plan 1 2 3 4 5 6 Months Prepare Business Plan To prepare for