Business Model and Strategic Plan Essay

Prior to enhancing a product within a large corporation, the company must have a strategic plan in place to ensure that the change runs smoothly. The strategy plan will focus on the company’s strengths, weaknesses’, opportunities, threats, and trends in terms of the new product, by developing and performing a SWOTT analysis. â€Å"A SWOTT analysis is an acronym for the internal Strengths and Weaknesses of a firm, and the environmental Opportunities and Threats facing that firm. SWOTT analysis is a technique through which managers create a quick overview of a company’s strategic situation (Pearce & Robinson, 2013).† SWOTT Analysis Opportunity is definitely favorable situation in a company’s environment meaning that the company stands to gain from this type of behavior. And the opposite of this is threat. A threat is an action that is not favorable. Strength is an advantage that the firm has against its competitors and the market it is currently serving and expects to serve. Weakness is something that is not beneficial to the company and can hinder the company’s success (Pearce & Robinson, 2013). Internal Forces Internal analysis is defined as an analysis of strengths and weaknesses focusing on internal factors that give an organization certain advantages and disadvantages in meeting the needs of its target market (Ballowe, 2008). Internal factors are important to analyze to better understand how the company aides in its own success or failure. This analysis allows a company to compare past successes with current procedures to aide in the company’s future endeavors. Some internal factors that will be discussed are strategy, structures,  processes & systems, resources, goals, technologies, and leadership. Mazda’s new division will build a strategy that allows for the employees to effectively and efficiently build the new engine with the correct EPA guidelines. Although the new engine type is more expensive to build, Mazda has invested money into this new production line to build the engine and in the long run to be more profitable and environmentally sound. In terms of cost, processes and systems have to be in place to ensure that the new production line is efficiently ran and that employees are trained properly. This new division will look into research and design from other companies who have effectively built hybrid engines to compare ideas and look for innovative creations. The leaders in this division will follow EPA guidelines to ensure that there are no issues when inspections occur. Leadership within this division will set lofty goals that must be reached to attain success in terms of this new engine type. Leadership will continue to follow update technology and make necessary changes. In terms of leadership, organization is a key factor to ensure all members are sending a consistent message to the employees to avoid any undo mistakes. Continuing to build successful process and procedures to share with the employees will only help this division. External Factors The definition of external analysis is â€Å"the examination of opportunities and threats that exist in the environment and both opportunities and threats exist independently of the firm (Ballowe, 2008).† External factors that the new division of Mazda will analyze are legal & regulatory, global, economic, technological, innovation, social, environmental, and competitive analysis. A great advantage that this new division has is that socially and environmentally, many individuals are interested in saving the environment as well as saving money economically. Unfortunately, other manufacturers also have hybrid engines so Mazda will definitely have a good amount of competitors. The more competitors, the less advantage Mazda will have in sales. With the increase in competition, prices will become more competitive meaning that the profit margin will be less. In terms of legal and regulatory, the EPA has high standards in regards to qualifications for hybrid engines which means this division of Mazda will have to ensure high  quality and results. Supply Chain This new division has created a new engine that is more environmentally sound and economical than any other car manufacturer at this time. Because Mazda not only wants to ensure low prices on their vehicles, this new engine’s production line will be very effective and efficient. Mazda understands that the supply chain of this engine has to have very little to no flaws if a profit will be made. Mazda will look to local companies and manufacturers for the parts to create to engine to ensure lowest cost possible to build the engine. Because Mazda has a production center, adding to the center for this engine type was not too costly. Mazda was able to use current employees to move into the production line and leadership team for this new division. Major Issues and Opportunities A major issue or opportunity would be the ability to maintain excellence and a competitive edge against other companies with hybrid engines. The hybrid model can be costly so Mazda will need to continue to look for ways to keep production costs low so the vehicle purchase price is affordable. The first research question is ‘How can Mazda maintain an affordable selling price with a hybrid engine?’ The best way to understand how this can be done is to evaluate the purchasing of the parts for the engine, then ensure effective and efficient processes with the manufacturing site, and determine the best possible selling price. Another issue or opportunity that Mazda faces is keeping up to the high standards of the EPA. Mazda needs to do large amounts of research and make sure the design and building of the engine are on or above standards. The second question is ‘How can Mazda maintain EPA standards on the newly designed engine?’ Mazda can build a small team of employees who are specifically geared to ensuring that the engine is always up to standards and the division is aware of any changes from the EPA. Conclusion In conclusion, this new division of Mazda will continue to look for ways to improve efficiencies and effectiveness to ensure a great product. This division can achieve this by effectively performing a SWOTT analysis and  using the information to build a great product. Gaining knowledge and applying the new knowledge to the current processes will only impact Mazda in a positive manner. References Ballowe, Todd, â€Å"External Analysis,† March 5, 2008, retrieved online from http://onstrategyhq.com/resources/external-analysis/. Ballowe, Todd, â€Å"Internal Analysis,† March 5, 2008, retrieved online from http://onstrategyhq.com/resources/internal-analysis/. Pearce, J. A. II. (2013). Strategic management: Planning for domestic and global competition (13th ed.) New York, NY: McGraw-Hill.

“Magdalena and Balthasar” by Steven Ozment’s Essay

In the story Magdalena and Balthasar by Steven Ozment’s, one is able to reconstruct the lifestyle of a sixteenth-century merchant family that lived in Europe. The life styles specifically shown in Magdalena and Balthasar’s relationship was anything but an average lifestyle. Although the couple dealt with many problems such as the separation due to business, they were able to keep their marriage stable through letters. In these letters one is able to uncover their beliefs about their family life, marriage, parenting, and the affects religion had on them. Although this specific couple had a unique relationship, one could come to some understanding of how a medieval persons’ life was lived. When analyzing pieces from these letters, one could conclude that marriage had to be filled with love, admiration, and cooperation to be successful. Given the role in 16th century society, the husband was the dominant figure and the wife was left with the household duties and children. However, some relationships were ahead of their times and was based solely on reciprocated compassion. If this bond could be achieved it brought a sense of equality in the understanding and responsibility of a marriage. The growing love in a marriage relationship was hard to accomplish. Whether the marriage was based on the similar backgrounds, or mutual feelings about equality, a successful marriage had to be worked on. Many merchants at this time were extremely involved with their work. This meant that when work called they had to reply. If the job took the husband out of town the best way to maintain their relationship was through letters. Although it was hard to keep in touch there were many ways that they could communicate their love. Another aspect that was seen in the medieval time period was the way in which the people expressed their love. In the relationship between Magdalena and Balthazar, Magdalena uses special valued objects in her letters in order to express her love. An example is when â€Å"she folds flowers from their garden into her letters to him†(Ozment 28). Likewise, Balthasar expressed his love for Magdalena through his unique writing style. In his letters he was able to express his love through simple words such as â€Å"honest, good, true,  friendly, dearest, closest bride†(Ozment 28). It can be observed that the common attribute of expressing love in their relationship was not only limited to their relationship specifically, rather it applies to most sixteenth-century relationships. Although Love was a major attribute in relationships trust was another strong hold point of the everyday family lifestyle of this time. There had to be a strong supporting trust from each side of the relationship in order for the family to prevail. For instance, when the couple was separated the husband would have to have a deep sincere trust for the wife to maintain his business at home. The wife would have chores such as, tending to the children, keeping the household running, and other business related tasks. Although it was common for the women to do so anyways, the husband had to rely and trust his wife to take care of these dealing without second thought. Although the husband had to give up allot of responsibility when he was away for work, normally he would not give up the whole authoritative power. For example in a disagreement usually their would be some sort of compromise, but in the end the wife would give in to the big decisions allowing the husband to have authority. The equilibrium between trust and negotiation that was seen in sixteen-century relationships shows how a sense of stability that was formed in their family lifestyles. Parenting in this time period was dealt with by different methods, which were determined by the different marital roles. The primary differences come from their choice of style that was inherited from their forefathers. The wife is usually the consoling and sympathetic parent, while the father was usually the stern and punitive parent. The father had to deal with his parenting from a different town at times, which led to less interactive correction strategies. When a demand from the father was made to the child, the child would usually meet the request without question. Although the wife respects the husband’s requests she usually sympathized for her son, showing an amount of protection, by lessening the demands. The most similar parenting style between the two is their love for their son. Although the teaching methods were different from parent to parent, the child usually received a decent education, housing, adequate food, to fulfill his needs. The love and support from both the mother and the father is astonishing and overall should result in a prudent child. Religion is a very important aspect of sixteenth-century life among medieval individuals. A common belief was that God was involved in their family life and was in absolute control. â€Å"They think of God as an absolutely omnipotent being, who controls human destiny on earth and into eternity†¦Ã¢â‚¬ (Ozment 144). If there were unfortunate dealing such as sickness or substantial loss in a business deal, it was believed to be â€Å"an obvious punishment of God†(Ozment 144). Religion was also tied into the lives of medieval people by the incorporation of it into their marriages. The medieval people relied on the God given supremacy of the husband’s role for leadership in the family’s prosperity. Parenting techniques also resulted from their Christianity belief. The disciplinary actions of each role in the family originated from the history of Christianity. Even though these teachings seemed strict they closely adhered to them in order to adhere to their beliefs. The particular dealings with Magdalena and Balthazar gave and exclusive illustration of the life of a sixteenth-century family. It also exposed the hardships of the medieval time period. Magdalena and Balthazar gave a significant portrait into how a person in the sixteenth century dealt with the everyday attributes of marriage, parenting, family life, and the affects religion had upon them.

Can Technology Make Us More Human? Essay

INTRODUCTION Humanity is the human race, which includes everyone on Earth. It’s also a word for the qualities that make us human, such as the ability to love and have compassion, be creative, and not be a robot or alien. While in the other hand, technology is a word with Greek origins defined as the practical application of knowledge especially in a particular area. Besides, technology is a word used to collectively describe or portray the advancements, abilities, creations undertakings, views, and knowledge of a singular group of persons which is us, the humankind. When we speak about relationships between technology and humanity, it is evident that we have to deal with the interrelations between some very complex phenomena of technology, science society or systems of society and systems of rights of a universal nature. The discovery and development of a large number of powerful energy source-coal, petroleum and electricity have enabled humanity to conquer the barriers of nature. All of t his has facilities growth of fast modes of transport, which in turn has transformed the world into a global village. It has shaped our civilization from scrap. Every invention escalated human hunger to know more. Every time it has pushed human potential to a new level. Back in The Stone Age, when humans were still in a jungle, an invention like sharp stone helped them to hunt better and fire helped them to taste food better. Wheels helped them to explore new boundaries, and domestication of animals made life more secure. An invention of currency eased the transaction and barter system was let go. The colonial era began as the invention of advanced weaponry and transportation such as ships which changed the phase of history. More advanced inventions came like the birth of steam engines, the invention of corporations, and mass transportation gained momentum. Then, along came diesel engines, which personalized machine transportation even more. And the Wright brothers forever changed the way of travel by air transportation, like inventing aircraft. As for communication, transistors was the well-known invention, which changed the way we compute, including land phones which also a big part of the communication changes. Personal computers and workstations which reduced paper consumption in offices and mobile phones which permanently changed the world of communication. Then, the best invention of all is the Internet. It localized the whole world as it changed the way we look at the world. And created tons of entrepreneurs and innovators some of the best creation such as e-commerce, which changed the way we access our daily needs, social media which changed the way we communicate with other people, e-banking, which you don’t have to travel all the way, and stand in line just to transfer any amount you want. The e-wallets, which we do not have to stand in line to pay our electricity bills and phone bills. You also have the access to quality education from across the globe. While walking this path we have screwed up the following such as overpopulating the earth. The invention of medicine eradicated the deadly diseases thus reducing death rates. Within a century, we have increased 5 fold of population. We messed up the natural resources and permanently killing almost 30% of species of the Earth and 20% more are critically endangered species which may soon get extinct. Though we take a lot of pride in our invention and development, what we forgot is we share this planet with other species and if we don’t realize it soon, well the planet itself has its own way of controlling things.

The problem of privacy in the age of google glass Essay

The problem of privacy in the age of google glass - Essay Example Privacy is like a basic factor in the life of every single person that lives on this planet called earth. Therefore, this makes it right for everyone, and it should not be invaded or intruded by anyone especially every other member of the public. For example, future, wearable digital devices are constantly being invented and being illustrious in the mainstream news media. People are gradually embracing the idea that our future digital life will be with view computers, brain-computer interfaces, digital tattoos and head-up. In keeping with the Google Glass phenomenon, these are devices that are often spoken off way before they are even produced and made available for the general public to buy and use. The fact should be that as the future-proposed technology and inventions move on, people need to understand the concepts that drive the devices that these inventors create, nonetheless also the social structuring and identity building that humans endure in this gradual process. On to the first issue, this is the privacy in the web and the current problem that it entails. The web is like the central place where almost everyone visits on more than one occasion in a single day. Mostly for over the half the population of the world who are in the social media sites, the web is like their daily need, and before they use it they cannot feel that their day is complete. Most of these social media sites require one to enter their personal details making others able to view and observe others’ personal information. Just as Mark Andrejevic said in his book, the web allows one to be watched easily and closely. One can be tracked, through the use of programs that use the GPS system which is most efficient in the web, surveillance that can be executed at will also be possible through the web. Mark Andrejevic went to the extent of writing a book namely, â€Å"The Work of Being Watched:

Department of Agriculture Research Paper Example | Topics and Well Written Essays - 750 words

Department of Agriculture - Research Paper Example This rule proposes changing the marketing agreements that are established between packers and suppliers through the changing of judicial precedent. Ultimately this would make it easier for suppliers to sue in the Packers & Stockyards Act Lawsuit. Furthermore, this act would make it less likely that a packers union to utilize such an agreement. In the end, it was postulated that most, Cattle, Pig & Poultry producers as well as meat & poultry processors oppose this regulatory change. In the past, these marketing agreements help livestock producers manage volatile changes in prices through the establishment of long term contracts. In many respects it has been argued that these long term agreements only benefit large packing concerns and by banning these agreements it becomes easier for smaller packers to compete and ultimately create more bidding pressure on cattle, pig & poultry producers. Although this sounds great on paper the experience in reality may not be the same. Many producers favor long term agreements owing to a great deal of uncertainty in the price of livestock. The paper demonstrated that the price of livestock is 500% more volatile than the price of meat. ... This (Theoretically) would lead to a decreased demand for meat. The cascading effect may not only lead to overall drop in demand for meat and meat byproducts but could also lead to a decline in the quantity of jobs in the industry. If producers would not be allowed to enter into long term marketing agreements, ultimately there would be a 500% more volatile would translate to higher uncertainty in the market and make it difficult to guarantee long-term stable employment. Currently there are more than 14 million people looking for employment in the United States and this regulatory change would theoretically remove approximately 21,000 stable jobs from the worker pool. The implications from this would be a strongly negative effect on the American economy. Moreover one could postulate that these changes would also have a negative effect on the long term prospects of stable employment for retailers as well. With increased prices of meat products this may reduce the overall profitability of meat products at the retail level. Lastly this uncertainty would lead to a difficulty in the production of quality production products such as raising U.S. Prime or top end U.S. Choice. Without a guarantee that top quality livestock will receive a profitable price, than it may be the case that many ranchers will focus their efforts away from breeding higher quality cattle and move towards more generic cattle. In terms of trickle down effect one can expect some negative consequences for suppliers to the cattle, pork and poultry industries. As there is less incentive to produce high quality livestock one can expect a negative consequence for growers of

Media Law Report on Reynolds Privelage Defence Essay

Media Law Report on Reynolds Privelage Defence - Essay Example Does Reynolds privilege apply in the case study and determination of whether it amounts to defamation with application of case law? A conclusion of the determination of the facts will be made after the facts have been made and recommendations to that effect made too. In the case of Reynolds .vs. The Times Newspaper,1 The Prime Minister Albert Reynolds was accused by the British press of deliberately misleading the Irish parliament. Reynolds sued for defamation and the defendants raised qualified privilege as a defence. At the trial, the jury gave a verdict that was in favour of Reynolds and he was awarded damages. The Court of Appeal rejected this decision and instead they ordered for a re-trial and held that the said publications had not been covered under the qualified privilege. The defendants went ahead and argued that there should be some form of privilege available to newspapers regarding political matters that they publish. The House of Lords rejected this argument stating tha t such an argument would fail to provide adequate protection for reputation and it would make it difficult for one to discern political discussions from other serious matters. Qualified privilege was held be in existence only when the common law test is satisfied. The common law test is seen whereby a person who makes a communication has a duty or interest to make the communication to the person with whom it is made, then the person to whom the communication is made has a corresponding duty or interest to receive the said communication. It was on this case that Lord Nicholls then came up with a list to determine whether qualified privilege exists. One should take into account how serious the allegation is, the nature of the information, the urgency of the matter, whether the comment was sought from the plaintiff, whether the article contained the plaintiff’s side of the story, the tone of the article and the circumstances of the publication should be considered. This case the refore came up with what is now called the Reynolds tests, which are the tests that someone should consider when raising qualified privilege as a defence. These tests signify how important it is for the source of information to be reliable before a defence on qualified privilege can be raised. The allegations that have been made to Billie are of a serious nature first because they touch on public interest. Anything that concerns the public should be treated with utmost concern and independent investigations should be done. Qualified privilege is raised when a matter touches on public interest. In Bonnick .vs. Morris2, qualified privilege was used as a defence. The House of Lords in this case stated that the law relating to qualified privilege was consistent with article 10 of the European Convention for the Protection of Human Rights and fundamental freedoms3. It also stated that though the wordings may not be the same, the law relating to the Reynolds principle is consistent with t heir constitution under section 224. If the newspaper was seeking to publish the defamatory statement, it should have a factual statement. The anonymous source provided no information. There should also have been an inclusion of the defendants own statement. It was observed in this case that Reynolds principle were meant to provide a degree of responsible journalism and this is where there is a proper balance is held between the reputation of individuals and freedom of expression on matters that touch on the public. In this case,

Government Accounting and Reporting Essay Example | Topics and Well Written Essays - 1000 words

Government Accounting and Reporting - Essay Example The major features of government reporting are the summarized plans and programs, fiscal and economic policies capsulated in facts and figures. A government wide reporting is a reporting method that brings together the three types of government activities, such as governmental, business-type and other detached units. Each entity is required to report the activity in economic terms, describing the â€Å"flow of economic resources† that measures its impact, and follows the accrual basis of accounting (Klashy and Williams, 2000). Further, the report is historical since the report is compared with previous year’s performance to identify the financial and performance position of the entity. The Comprehensive Annual Financial Report (CAFR) of Davis School District in Utah has the same accounting reporting procedure; however, the state requires the School District to publish their report within five months of the close of each fiscal year in accordance with generally accepted accounting principles, which also required to present a report of financial activities to parents, taxpayers and citizen (Roberts, 2008). Furthermore, as differentiated from regular public accounting, Roberts (2008) said that the reason of preparing separate financial statements is to â€Å"support state or federal applications and a financial statement for use in an official statement for bond issuance purposes†. The school is supported by the County through the proceeds from bonds. The CAFR report of Davis School District is divided into three segments (Roberts, 2008): 1) Introduction of the report - Illustrates the description of the report including the transmittal letter, the lists of elected board and directors, the chart of the School District organizations, the model of the School District for its education, and excellence certificate of financial reporting. 2) Financial Report Section – This section is

Summary Essay Example | Topics and Well Written Essays - 250 words - 114

Summary - Essay Example According to Kasongo (2012), they were factors that led to the African scramble of which were economic, social, political, and religious. One dominant factor that Kasongo believes and addresses is that the colonization was the most significant factor. Colonization was the heart and soul of the African scramble; this is because Africa had many valuable resources that were vital to the European countries. The resources proved essential as a solution for European nation to recovery from the great depression (p. 196). The political and social motives were intertwined. Regarding Political motives, European nations sought to expand their territories, which was a viewed as a sign of power (Kasongo 197). Countries such as Britain used territories to decongest the United Kingdom, and it allowed the British immigrants to start a new life and sustain their families. These social motives allowed European countries to develop their territories according to their objectives (that related to their political motives). Through resettlement into the territories, the European countries used religion to improve the lifestyles of native African (Kasongo 198). In addition, the Europeans as a way of giving back and enriching the African population used religion. In conclusion, these elements illustrate the impact of the European countries during the scramble in Africa. Kasongo, Michael. â€Å"European Expansion and the Scramble for Africa.† (Re) Tracing Africa: A Multi-Disciplinary Study of African History, Societies, and Cultures. Eds. Salome Nnoromele and Ogechi Anyanwu. Dubuque: Kendell Hunt, 2012. 195-207.

Current role of fire and technology in automobiles, and where the Research Paper

Current role of fire and technology in automobiles, and where the technology is heading - Research Paper Example The role of fire in creating light and heat in the combustion of bodies paved the way for utilization of the most innovative invention of all times, the automobile. Continued over reliance to traditional fuel sources ultimately affects the future of automobiles, particularly in ensuring that they run as efficiently as expected. With all the developments in technology, its functionality and aesthetic value, the fact remains that vehicles consume a vast amount of fuel. In this regard, this essay aims to discuss briefly the current role of fire and technology in automobiles, and where the technology is heading. The following concerns would likewise be addressed: (1) what type of alternative fuel will have the most success meeting transportation needs in the nearby future? Why? (2) How would alternative fuel types evolve in later generations?    Due to the susceptibility for car fires, automobile manufacturers have used the latest developments in technology to ensure that passengers are protected and kept ultimately in safe condition while travelling. In addition, technology is heading for the discovery of cost efficient and safe automobiles utilizing alternative fuels to run them. According to Toyoland (n.d., par. 3), â€Å"there are about half a dozen flammable liquids associated with a vehicle. There are an additional number of flammable solids, or â€Å"solid propellants,† that contribute to fire. There are, depending on the vehicle, any number of hoses and pumps that move flammable materials past hot areas of the engine. Any leak in a hose or pump can pour flammable liquids onto the hot engine block or electrical systems- resulting in a fire.† Elliot (2004) averred that â€Å"about 70 percent of our oil consumption is used for transportation†. The United States is identified as the biggest consumer of oil from among all the countries in the world. The EurActiv Network (2007) identified â€Å"three alternative solutions are seen as promising: biofuels, natural

Macroeconomic Performance and Strategic Decisions Essay - 1

Macroeconomic Performance and Strategic Decisions - Essay Example Kazakhstan is an emerging economy in Central Asia and is one of the former Soviet republics. Each of these countries would be analysed on four main areas. The analysis would outline the four parts of this paper. Part one is a summary of the macroeconomic performance of each country over the last three years (2004-2006). Part two is a critical evaluation of the economy as a target market for exports. Part three is a critical examination of advantages and disadvantages of the economy as a potential source of inputs into a manufacturing company. Part four is an analysis of the strengths and weaknesses of the economy as a location for foreign direct investment or FDI. Table 1 summarises key economic indicators for these countries. The researcher acknowledges the sources in the Bibliography. The UK, with a total GDP of $1.8 trillion growing 3.1% annually is the world's fourth largest economy and has a population of 59 million with high disposable incomes, making it one of the best gateways to penetrate European markets with a per capita income of $30,447 at purchasing power parity. This former world superpower is the world's 6th freest (of 155) economy (Heritage, 2007, p. 381), the 10th (of 125 countries) most competitive nation on earth (World Economic Forum, 2006, p. xvii), and the world's 21st most competitive economy, which includes sub-economies that are not states or countries like Catalonia in Spain (IMD, 2006, p. 7). The Monetary Policy Committee (MPC) of the Bank of England (BOE) keeps a close look at the inflation rate that is only slightly rising between 2 and 3% annually by monitoring interest rates (BOE, 2007). The U.K. uses two inflation measures: the Retail Price Index (RPI) and the Consumer Price Index (CPI). Both are similar but with minor differences in composition, coverage, and weighting of prices in the index. Since December 2003, the CPI has been used for monetary policy with a target of 2.0% on average over time (BOE, 2007). The sterling exchange rate remains strong against the U.S. dollar and stayed within the range of 0.58 to 0.53 by end-2006. The sterling weakened against the Euro as expected from 0.69 to 0.72 by end-2006, a trend expected to last until end-2007 depending on Eurozone interest rates changes. These currency movements were affected by the weakening of the U.S. economy and a strengthening Eurozone with respect to the UK, signifying low currency volatility due to sterling's lack of attractiveness as a medium for short-term capital flows in currency markets caused by the UK's flat interest rate curve (BOE, 2007, p. 2). The UK stock market continued to rise, returning 22.0% up to December 2006, continuing a two-year trend, with the FTSE 100 index closing higher by end-2006. The UK equities market is expected to follow its upward trajectory in 2007 on the back of stable prices and renewed business and consumer confidence. Hong Kong Special Administrative Region (HK SAR) The HKSAR celebrated last July 1, 2007 its tenth anniversary since its handover by the UK to the People's Republic of China. HKSAR retains its unique status as a Special Administrative Region until 2047 and hopes to remain as the world's most liberal capitalist economy whilst at the same time being a part of the largest and most progressive Communist nation with

Defining philosophy Essay Example | Topics and Well Written Essays - 750 words

Defining philosophy - Essay Example Philosophy is divided into sub fields since it is very wide and this depends on the sub-field an individual is interested in, for example an individual can study on epistemology, logic, metaphysics and ethics among other sub-fields. A sub-field of epistemology is scope of knowledge such as relationship between the truth and beliefs of certain community or group and how the philosopher can justify one theory depending on how the community or the group perceives it. Skepticism is highly valued in philosophy since it questions the possibility of justifying the truth and still regress the argument, meaning that one must support the argument with another justification. Munchhausen Trilemma perceive the study as a chain of infinitism where the chain of justification can go on forever, the next chain is foundationalism where this chain relies on basic beliefs of individual and lastly is coherentism where the chain keeps on moving in circular manner and the chain has its own chain of justifi cation (Munchhausen 56). The question of epistemology differ from scientific facts since according to scientist that knowledge is true belief that has been given account of by individual, and states that if something is actually known then categorically it is not false. Another question on philosophy according to Thomas berry is the universe being a communication of subjects and not a collection of objects. The foundation seeks to carry out great work of flourishing of the earth community; the theory promotes and distributes ideas on the great work, evening thoughts, the sacred universe, the Christian future and the fate of the earth. Thomas berry perceives the universe as a self-referential reality in the phenomenal world. Thomas terms the universe as text without context. The universe is seen as a story to many and the significance of the story is known, and still the universe story is quintessence of reality. Philosophers and scientist do perceive the story that

Culture and Anthropologists Essay Example for Free

Culture and Anthropologists Essay The problems that faced by anthropologists in the fieldwork are adaptation to new culture, maintain objectivism and get access to all information from their subjects. Adaptation to new culture is hard, since they have to stay for a period of time and try to live in the way their subjects’ do. Adaptation that done by anthropologists is not only adapt new lifestyle, but also learning their cultural norms and language in order to be accepeted by their subjects as a part of them, not only as a foreigner. For instance, M. N. Srinivas was got disapproval for shaving before bath since in that community, people are shaving after bath (Srinivas, 2002). However, by adapting the culture, anthropologists not only gain knowledge about how the culture is, but they will have better understanding on the culture. Knowing why do people in certain culture do certain activity, how the culture has impacted the people on that community and the historical of the culture as well. On top of that, a better understanding of the culture may assist the anthropologists to produce an unbiased ethnography by avoiding ethnocentrism. Having different cultures, people tend to make a comparison among the culture. It could be inevitable when living with people with different cultures in which values, norms and behavioural acceptance are in different manner. This objectivism is needed when anthropologists faced problem with what they observe. Remain objective could be a bit hard when the anthropologists have an emotional involvement on problems that their subjects’ face. For example, when Claire did the observation on prostitutes lifestyle and have emotional pressure, at some point she need to out from the field, so that her objectivism is remain stable (Sterk, 2009). Other than avoiding ethnocentrism, maintaining objectivism is also required to build a good relationship with their subjects. By the example on what Claire done, the thing that can be learned is anthropologists should not interfere too much on their subjects’ life, and also anthropologists should be able to set a boundaries to limit to what extend they can emotionally interfere with their subjects (Sterk, 2009). The other problem that faced the most by anthropologists is get access to all information from their subjects. In order to find the respondents, anthropologists need to show their respects to gain trust from the leader of that community. The importance of key respondents is to open a path to ommunicate with other members in that community to get more perception of how the norms and culture affect their life. However, the problem is, sometimes anthropologists wrongly identify the key repondents. According to Calire E. Sterk (2009), anthropologists need to be able to find the right person as their key respondents, if not, then the access to information is too narrow, which could cause misinterp retation on the data. For instance, during fieldwork in Rampura village, M. N. Srinivas observed a community that led by a headman that very strict on cultural rules(Srinivas 2009). The headman always watch whatever Srinivas did and limited the access to the members of that community , till the time when he realize that there are two faction and apparently the second faction is more open to foreigners than the first faction (Srinivas, 2009). By reading this case, there is something that can be a learning experience which is before anthropologists do participant observation, they need to know how is the structure of that society, what are the cultural values, norms and belief that they believe in and the most important thing is to know what are motivations to do such a cultural activities and how they do it.

Case Study On A Patient With Oesophagitis Nursing Essay

Case Study On A Patient With Oesophagitis Nursing Essay The patient was a female, age 89, with a BMI of 15.4 kg/m2 (underweight). Her presenting complaint was nausea and vomiting, bringing up coffee ground vomit, fatigue and loss of appetite since two days ago. Her past medical history included atrial fibrillation, paranoid psychosis and iron deficiency anaemia. She also had a cholestectomy done in year 2000. She was single and lived alone; she neither smoked nor drank. There was no relevant family history recorded for her case. On admission she was taking medication stated in Table 1 below. She was known to be allergic to ciprofloxacin. Table 1 Repeat medication taken on admission Drug Dose Digoxin 125 Â µg once daily Lisinopril 2.5 mg once in the morning Furosemide 40 mg once daily Clopidrogel 75 mg once daily Quetiapine fumarate 125 mg twice daily Tramadol hydrochloride 100 mg twice daily Codeine phosphate 60 mg one to be taken as required Paracetamol 500 mg four times daily Folic acid 5 mg once daily Ferrous fumarate 322 mg twice daily (Last prescription dated three months ago) Clinical data and diagnosis On admission, her temperature was 36.4Â °C, pulse was 83 beats per minute, and her blood pressure was 124/46 mmHg. Her Abbreviated Mental Test (AMT) score was 7 out of 10, indicating mild confusion. A full blood count, renal function test, liver function test, and an electrocardiogram (ECG) were carried out. Her liver function test came back normal. The ECG showed some ST depression, but the patient denied any chest discomfort. Her haemoglobin levels were low at 9 g/dl (11.5-16.5 g/dl), while platelets were low at 108109/l 150-400109/l). her plasma urea was elevated at 38.2 mmol/l (2.5-7.5 mmol/l), and her creatinine was 273 Â µmol/l (50-80 Â µmol/l for female). Her creatinine clearance was calculated to be 8.1 ml/min, which indicated severe renal impairment. The diagnosis was acute renal failure, and gastritis or peptic ulcer disease. Clinical progress On day 1, patient was dehydrated and had some upper abdominal discomfort (Dyspepsia). The plan was to stop tramadol, clopidogrel, lisinopril and furosemide, due to the coffee ground vomit and acute renal failure. Two units of RCC (Red cell concentrate) and IV fluids were given. A urinary catheter was used to monitor urine output. Patient was continued on ferrous fumarate and given gaviscon 10mls. Quetiapine fumarate was not given as it was not available. On day 3, patient was paranoid; as quetiapine fumarate was still not available, haloperidol 1 mg was given as an intramuscular injection according to the hospital guidelines. Her haemoglobin levels were back to normal (12 g/dl) and her creatinine clearance improved to 33.3 ml/min; measurements were taken again because the values were so different. The catheter was taken out, but she was to receive subcutaneous fluids hourly. Patient was passing black stools. She was given Peptac 10mls for abdominal discomfort and was scheduled for an endoscopy the next day. Quetiapine fumarate was given on day 4 and patient was taken off haloperidol. On day 6, the patients confusion was thought to be influenced by digoxin; levels were checked and found to be 1.1 Â µg/l (0.5-2.0 Â µg/l); however dose of digoxin was decreased to 62.5 Â µg. a rectum examination was conducted to make sure patient was not bleeding from the lower gastrointestinal tract. The gastroscopy report came back stating patient had grade D oesophagitis (Reflux oesophagitis), that is an extenxive mucosal breaks engaging at least 75% of oesophageal circumference. She was also found to have a large chronic duodenal ulcer, non-bleeding with visible vessels. The plan was to start the patient on IV proton-pump inhibitor (PPI, pantoprazole 8 mg/hr) for 72 hours, oral omeprazole 20 mg daily, and eradicate H. pylori if infection was present (CLO test). On day 9, the CLO test came back negative. Patient was taken off IV PPI and put onto oral PPI (Omeprazole 40 mg daily). A repeat endoscopy was scheduled for the week after. Disease Overview Prevalence Oesophagitis is the inflammation of the lining of the oesophagus, usually caused by irritation due to stomach acid reflux.1,2 It is included under the boarder term of gastro-oesophageal reflux disease (GORD), which also includes endoscopy-negative reflux disease.3 In the UK, there is a 28.7% prevalence of GORD, and the risk is found to increase with age, especially for those over 40 years of age. There is an estimated of over 50% of GORD patients between 45 and 60 years of age.4 About 25 to 40% of people with GORD are found to have oesophagitis on endoscopy.5 Pathophysiology, risk and diagnosis Acid reflux can occur because of incompetence of the lower oesophageal sphincter, a transient complete relaxation resulting from a failed swallow, that is, a swallow without the usual peristalsis wave (Found in 65% of patients). It can also be caused by a transient increase in intra-abdominal pressure (17% of patients), or a spontaneous free reflux due to the lower oesophageal sphincter having a low resting pressure (18% of patients).6 Possible risk factors for GORD are pregnancy, excess alcohol consumption, smoking and hiatus hernia. Obesity is thought to be a risk factor, as well as certain foods like onions, citrus fruits and coffee. Drugs that are thought to relax the lower oesophageal sphincter like calcium channel blockers are thought to play a role in promoting GORD. There is however very limited evidence to support these claims.4,5 It is now thought that more than 50% of GORD risk is genetic, as it is found that a first degree relative of a person with GORD is four times more at risk of getting the disease.4 Diagnosis of GORD is based mainly on the patients symptoms, predominantly acid regurgitation or heartburn.7 An endoscopy is usually the main diagnostic procedure done to confirm GORD. Pharmacological treatments and mechanisms of action The main drug used for this disease is a proton-pump inhibitor (PPI). PPIs are one of the most prescribed drugs for the treatment of acid-peptic diseases, including GORD and peptic ulcer disease.8,9 They are substituted 2-pyridyl methysulfinyl benzimidazoles, with pKa around 4, and have a very short plasma half life of one to two hours. They are weak bases that are lipophilic, which allows them to cross the membranes of the parietal cells easily. Once inside the parietal cells, where the pH value is less than 4, they protonate into the activated tetracyclic sulphenamide form of the drug and accumulate inside the cells. Here they form covalent bonds with the cysteine residues in the hydrogen/potassium adenosine triphosphatase (H+/K+ ATPase) enzymes, forming disulphide bonds, inhibiting the acid secretion activity of the pump irreversibly. Due to the covalent bonds, their duration of action exceeds their plasma half life. To resume acid production, the parietal cells must then generate , or activate, new proton pumps.8,9 Examples of PPIs are omeprazole, lansoprazole, pantoprazole, and rabeprazole, the last of which has a pKa of 5, and is activated at a broader range of pH compared to the other three, leading to a higher acid-suppression activity. The common side-effects of PPIs are nausea, diarrhoea, abdominal pain and headache. Diarrhea seems to occur because of a change in the gut flora brought about by the PPI, and appears to be age-related.8 PPIs, especially omeprazole, are known to alter the activity of cytochrome P in the liver, an important consideration for patients taking drugs with narrow therapeutic windows like warfarin and phenytoin. They also cause a prominent gastric pH increase, and are able to inhibit or decrease the absorption of weak bases that require acid for absorption, like iron salts, griseofulvin, and vitamin B12.8 Other drugs that may be used in this case are H2 receptor antagonists, which inhibit the secretion of acid by stopping histamine from binding to the H2 receptors on the parietal cells; and prokinetic drugs, usual examples like cisapride, metoclopramide and domperidone, which work by increasing the pressure of the lower oesophageal sphincter, and accelerating gastric emptying.10 Evidence for treatment of the condition The National Institute for Health and Clinical Excellence (NICE) guidelines state that, for the management of oesophagitis on endoscopy, patients are to be given full dose PPI for one to two months. If there is a response to the treatment, low dose PPI is given, probably on an as required basis. If there is no response, the dose of PPI is doubled for another month, before switching to low dose PPI. If there is no response to the doubled dose of PPI, treatment is then switched to a histamine H2 receptor antagonist or a prokinetic.11 Klinkenberg-Knol EC et al1 compared the effects of omeprazole and ranitidine in a randomised, double-blind, endoscopically-controlled trial done on patients with reflux oesophagitis. Omeprazole was given at a dose of 60 mg daily while ranitidine was given at 150 mg twice daily. The symptoms were evaluated before starting the trial, and at the second, fourth and eighth week. Endoscopy was done at the start of the trial, and repeated during week 4, with another after 8 weeks if there was an absence of healing at week 4. For patients taking omeprazole, 19 out of 25 patients improved from Grade 2 or 3 (erosions or ulcerations) to Grade 0 or 1 (erythema and friability)12 after 4 weeks; while for patients taking ranitidine 7 out of 26 showed similar improvement (P = 0.002). At week 8, corresponding improvement was shown in 22 out of 25 for the omeprazole group, and 10 out of 26 for the ranitidine group (P = 0.001). Omeprazole showed a significantly higher healing rate, which was reflected in a better improvement of reflux symptoms as well. Patients receiving omeprazole experienced a more profound and faster relief of heartburn, which was the most common symptom complained by the patients (P = 0.0001). After 2 weeks, 92% (23 out of 25 patients) of patients receiving omeprazole reported that their reflux symptoms were either gone or had improved, while only 65 % (17 out of 26) of the ranitidine group reported the same (P = 0.01). This study however, only showed the superiority of omeprazole over ranitidine in the short term treatment of reflux oesophagitis. Further studies were needed to evaluate the effects of omeprazole in long term management and at a lower dose. Havelund T et al12 performed a double blind study on patients with Grade 1, 2 and 3 reflux oesophagitis. Patients were allocated randomly in this study to a treatment with omeprazole (40 mg once daily), and ranitidine (150 twice daily), for a period of 12 weeks. It was found that patients treated with omeprazole had a faster response to the treatment than those taking ranitidine (P < 0.0001). For the omeprazole group, healing rates were reported at 4, 8 and 12 weeks to be 90%, 100% and 100% respectively for those with Grade 1 reflux oesophagitis. For Grade 2 and 3, corresponding healing rates were 70%, 85% amd 91%. While for the ranitidine group, healing rates were 55%, 79% and 88% for Grade 1, and 26%, 44% and 54% for Grade 2 and 3. This pointed to a superiority of omeprazole at a lower dose (40 mg) over ranitidine. Sandmark S et al13 did a similar study, but with an omeprazole dose of 20 mg daily. Healing of oesophagitis was targeted in this study to be a complete healing of all ul cerative and erosive lesions in the oesophagus. At 4 weeks, healing rates were shown to be 67% in the patients taking omeprazole and 31% in those taking ranitidine (P < 0.0001). Corresponding healing rates were 85% (Omeprazole group) and 50% (Ranitidine group) after 8 weeks (P < 0.0001). This was also reflected in a more profound and faster- improvement in reflux symptoms in the patients taking omeprazole (51% by the end of the first week compared to 27% for patients taking ranitidine). Robinson M et al14 conducted a study to compare, in patients with erosive oesophagitis the efficacy and tolerability of omeprazole at a dose of 20 mg daily to ranitidine at a dose of 150 mg twice daily together with a prokinetic drug metoclopramide at a dose of 10 mg four times daily. It was found that healing rates for omeprazole were significantly greater than that for ranitidine in combination with metoclopramide. Omeprazole also provided a more profound relief for patients with reflux symptoms. More side effects and treatment-related withdrawals were found among the patients allocated the ranitidine-metoclopramide combination. Omeprazole was thus found to be more effective and better tolerated. Iskedjian M and Einarson TR conducted a meta-analysis15 of the three drugs cisapride, omeprazole and ranitidine for GORD treatment. At 12 weeks, 95% of patients were cured in the omeprazole group (40 mg daily), 81% in the ranitidine group (600 mg daily), and approximately 60% in the cisapr ide group (40 mg daily). In mild GORD, healing rate was 56% for cisapride versus 38% for ranitidine, while healing rates for cisapride and omeprazole showed no significant difference. In severe GORD, the healing rate for cisapride was only a half of that of omeprazole (43% versus 87%), while showing no significant difference when compared to that of ranitidine (50%). Thus it was concluded that omeprazole is favoured for treating severe GORD, while cisapride may be that of mild GORD. Vigneri S et al16 compared 5 maintenance therapies after an initial treatment of omeprazole 40 mg daily for 1 to 2 months, and healing was confirmed by endoscopy. Patients were then randomly assigned 12 months of treatment in the 5 following groups: cisapride (10 mg three times daily), ranitidine (150 mg three times daily), omeprazole (20 mg daily), ranitidine and cisapride, or omeprazole and cisapride. At 12 months 54% of the cisapride group, 49% of the ranitidine group, 80% of the omeprazole group, 66% of the ranitidine-cisapride group, and 89% of the omeprazole-cisapride group were found to be in remission at 12 months of maintenance therapy. Omeprazole showed a significantly better efficacy than cisapride (P = 0.02), and ranitidine (P = 0.003). Ranitidine-cisapride combination therapy was found to show a more profound improvement than ranitidine alone (P = 0.05). Omeprazole-cisapride combination therapy showed better efficacy than cisapride (P = 0.003), ranitidine (P < 0.001), an d also ranitidine and cisapride combination therapy (P = 0.03). Omeprazole as monotherapy or in combination with cisapride is found to be more effective for maintenance therapy of reflux oesophagitis, compared to ranitidine or cisapride alone. Omeprazole in combination with cisapride shows more efficacy than ranitidine and cisapride. The effects of newer PPIs lansoprazole (30 mg daily), rabeprazole (20 mg daily) and pantoprazole (40 mg daily) were compared with that of omeprazole (20 mg daily), ranitidine (300mg daily) and placebo in randomised clinical trials brought together by Caro JJ et al.17 The healing rate ratios noted for the newer PPIs as well as omeprazole were as follow: lansoprazole 1.62; rabeprazole 1.36; pantoprazole 1.60; and omeprazole 1.58. There was a greater decrease in the heartburn symptoms in patients taking PPIs than those taking ranitidine (P < 0.002), as well as in the healing of ulcers (P < 0.05), and relapse (P < 0,01). Compared to placebo, the PPIs obtained a much more profound relief of reflux symptoms (P < 0.01), healing of ulcers (P < 0.001) and relapse (P < 0.006). From this study, it was found that there is not much difference between the newer PPIs and omeprazole when it comes to relief of reflux symptoms, ulcer healing and rate of relapse, while all PPIs are better than ranitidi ne and of course, placebo in terms of treatment for erosive oesophagitis. Kahrilas PJ et al18 compared esomeprazole and omeprazole efficacies in reflux oesophagitis patients. It was found that more patients (P < 0.05) on esomeprazole 40 mg and esmoprazole 20 mg were healed after 8 weeks of treatment compared to omeprazole (94.1% and 89.9% compared to 86.9%). Adverse effects were common in both treatments. Esomeprazole was found to have a greater efficacy compared to omeprazole in reflux oesophagitis and both have a similar tolerability profile. Rohss K et al19 showed that esomeprazole at 40 mg daily had better acid control than omeprazole 40 mg daily. Since maintenance of intragastric pH > 4 is important for the effective management of GORD, the mean percentage of a 24 hour period with intragastric pH > 4 was taken as an indication of the efficacy of the treatments. Measurements were taken on day 1 and day 5, and on both days esomeprazole showed a greater mean percentage (P < 0.001) at 48.6% and 68.4% versus 40.6% and 62.0% for omeprazole. Wahlqvist P et al20 compared,from the perspective of the National Health Service (NHS),the cost effectiveness of the actue treatment of esomeprazole (40 mg daily) with omeprazole (20 mg daily) in reflux oesophagitis patients.It was estimated that, taking into consideration of the healing probabilities over 8 weeks, treatment with esomeprazole saves up toa total of 1290 pounds compared to treatment with omeprazole. Esomeprazole was found to provide a greater effectiveness at a lower cost. This is reflected in another study conducted by Plumb JM and Edwards SJ,21 which found that esomeprazole is cost effective in comparison to all other PPIs for the treatment of reflux oesophagitis. Conclusion The treatment given to this patient was appropriate in terms of the algorithms stated in the NICE guidelines; she was started on a full dose PPI after eosophagitis was confirmed on the endoscopy. As stated above, PPIs are proven to have superior effects in comparison with histamine H2 receptor antagonists and prokinetic drugs, both providing relief of reflux symptoms but not healing the oesophagitis itself.10 Among all the PPIs currently available, esomeprazole, the S-isomer of omeprazole, has been found to show more improvement than all other PPIs. Current studies have shown that the treatment of reflux oesophagitis with esomeprazole is more cost effective than treatments using any other PPI, providing a greater healing rate at a lower cost. Thus it might be in the interest of the NHS to treat this patient with esomeprazole than omeprazole. (2271 words)

Why Are Integrated Resorts Important To Singapore Tourism Essay

Why Are Integrated Resorts Important To Singapore Tourism Essay In the current, the appearance of two integrated resorts acted the changing the economic structure in Singapore. It is a form of the government to make a growth of tourism receipts will be achieving to SG$30 billion, compared to the year 2009 that was SG$12.8 billion and twofold the amount of tourists to 17 million by 2015 (Montesano and Onn 2011a). According to the Singapore Tourism Board (STB), the total amount of receipts tourisms reached to SG$18.8 billion in 2010, and confirmed the highest number in ten years. For the expanse of the economy in front, there is a requirement by creating 60,000 jobs in IRs, and contributed 1 to 11/2 per cent of Singapores GDP (The Straits Times February 27 2012). According to the Ministry of Trade and Industry (MIT), by 2015, Resort World Sentosa and Marina Bay Sand would generate about 0.8% (about SG$2.7 billion) for Singapores GDP. Some examples, such as RWSs investment in IR in 2009, it invested SG$826 million on construction task and other prop erties, plants, and equipment. It showed that the extra value to Singapores GDP. Besides, IRs were awaited to lift tourist arrivals and the service industry. In 2010, within the first six months, the tourist arrivals have been increasing (Appendix 1). Especially, the highest amount of tourists was presented in July. The hotel occupancy rate was higher at 85% compared to 2009 was 72%. These figures were affected by a remarkable role of the two IRs. In the fourth quarter of the year 2012, Singapores economy avoided recession at 1.8% rise, and overall GDP the years growth at 1.2% (The Straits Times January 3 2013a). Additionally, the IRs generate economic spin-off what interest hotel, food and beverage industry, retail, and conventions and exhibitions as well (Montesano and Onn 2011b). For example, in 2009, MICE tourists receipts plunged to SG$2.7 million and SG$4.2 million in revenue, respectively. The Singapore Tourism Board (STB), the MICE receipts can contribute 35% of the total to urism receipts by 2015 (Yeoman 2012). Society is impacted caused the development of IRs. The development of tourism in Singapore is a reason to emerge labour issues for the hotel, mostly migrant workers (Hitchcock 2009). However, Marina Bay Sand happening in Singapore has some plans to engage local people. There are about 10,000 job vacancies for elderly unemployed citizens, women and housewives. There are no migrant workers (Conrady 2010). In a research from BBC News (2012), the number of foreign workers was more than 30% of Singapore worker force of about 3 million people. In addition, citizens complain about many problems that are crowded public transportation, high cost of living, high cost of having a car, stressful life, poor customer services, and so on (Butcher and Velayutham 2009). Public transportation is overcrowding passengers on MRT is a serious concern for the Singapore government. The MRT has been extended and added more lines to resolve the current problem. The extension of the East West line is 57.2 km w ill begin by 2016 and will serve a large amount of the workplace is about 100,000 commuters. There are also two MRT lines are the Thomson Line and Eastern Region Line will begin by 2020 for commuters outside the city. These proposals will meet the leap from 1.4 million commuters to 4.6 million commuters a day in 2020 (Libguides 2011). Furthermore, Singaporeans have met with high housing purchases caused income replacement ratio (IRR). The IRR ratio fell between 17% and 18% for middle earning labours in the individual wage groups, at retirement age of 65. It affects the retirement income when purchasing homes is mortgage payment. Prices property rises are a $100,000 increase in HDB home price will get IRR by between 3.0% and 12.4% so in order to offset the impact of high housing purchases the earnings growth of 0.4% to 1.2% (Hoong et al. 2012). On the other hand, the prices of private homes in the fourth quarter of the year 2012 grew to 1.8% in Singapore, compared with 0.6% in the pr evious quarter. In 2012, general costs went up 2.8%, compared to the last year that was 5.8%. HDB resale prices increased to 2.5% in the fourth quarter of the year 2012, compared to the year 2011 (The Straits Times January 3 2013b). Littering issue is the considerable concern with the Singapores government. Now, the population has been increasing, and the big inflow of foreign workers in Singapore, what are the main reasons make the city is not so clean. People use the window as a dustbin to throw a lot of stuff so the government has made a limitation of overseas labours, and created more attractive jobs for Singaporeans (Today November 12 2012). The improvement of technology contributes the development of IRs. Changi International Airport is one of the worlds best airport includes terminal 1, terminal 2 and terminal 3. In 2013, the plan for building terminal 4 to replace budget terminal will start and will complete in 2017 to provide better service to 16 million passengers compared with budget terminal was 7 million passengers (Channelnewsasia 2012). Moreover, internet technology has a vital role to promote the tourism industry around the world by creating good news about tourism of Singapore (Devanish 2011). Monaco is a small independent country located in Western Europe on the Mediterranean Sea (Shei 2008). Monte-Carlo is the most prominent caused it is a joy as a tourist destination and casinos in Monaco (Singh 2008). There are four casinos in Monte-Carlo: Le Casino de Monte-Carlo, Le Cafà © de Paris, Le Sporting Monte-Carlo and Le Sun Casino (Timothey and Teye 2009). Monte-Carlo SBM is a group owns hotels and casinos, including Les Thernes Marins de is one of the best spa of the world (Gershman 2009). In analytic PESTEL concerns, showing that PESTEL impacts and issues have affected future development of integrated resort development in Monaco. The first is a detailed analysis of political impact. Monaco is a constitutional monarchy which is known as National Council since 2009. National Council has 24 members who are elected by locals every 5 years. The government combined of 5 ministers knows as Conseiller du Gouvernement with different responsibilities such as economy, culture, society, education, housing, environment, transportation, and public service for community, technology, health care and others. Monaco is handled and protected by France (King 2008). It receives many benefits like an EU membership, and the currency is Euro. In 1993, it attended the United Nations and the Council of Europe in 2004 (Rogers and Crimmins 2011). Current political issue is SBM employers feel dissatisfied the rights of workers. They need to have their own party to be elected to become a member o f National Council in order to secure for SBM workers in the current and future in Monaco. In the case, if the party can get 12.5% of the vote, it will win. However, they will have a problem with Union Monegasque and Horizon Monaco. On 15 November 2012, there was a preparation for 24 members in trade unions for Renaissances election campaign. On 10 January 2012, the official list members will notice (The Riviera Times November 15 2012a). Secondly, following the Monaco Government Tourist and Convention Authority (2011), GDP reached to à ¢Ã¢â‚¬Å¡Ã‚ ¬4.37 billion. It rose by 6.6% compared to 2010. The Singapore economy has recovered since 2010 was 2.1% after there was a decrease by 11.5% in 2009. According to 2011 GDP Report, GDP per capita (PPP) was à ¢Ã¢â‚¬Å¡Ã‚ ¬51,556 that was an increase by 4%. In 2010, tourism industry achieved a significant amount. The act of selling hotel industry climbed to 8.4%, equivalent to à ¢Ã¢â‚¬Å¡Ã‚ ¬493,472,800 excluding VAT compared to 2009 was à ¢Ã¢â‚¬Å¡Ã‚ ¬455,421,462. These figures showing the tourism industry is going up. In 2010, leisure tourism made up 80% of hotel arrivals compared to business tourism was 20%. Monaco was 30 top of target arrivals. It achieved the figures of travellers from new markets are Mexico (+23%), Brazil (+24%), New Zealand (+24%), Australia (+32 %), India (+41%). The government of Monaco expects the number of Indian tourists will increase to 25% caused from 2010 to 2012 the number of Indian travelled to Monaco grew from 1,200 people to 1,500 people (APN News November 21 2012). Monaco has no income tax on residents and low business taxes. However, casino revenue for the government achieves 75%. Business tax rate is 33.33%. In case, the companys turnover get more than 25% generates outside of Monaco (OECD 2010). The additional profit tax rates will be reducing for further incorporation within the first 5 years following in the first 2 years, the third year, the fourth year, the fifth year and the sixth year with the tax rate will be payable is 0%; 25%; 50%; 75%; 100%, respectively (Cambell 2008). Tax exile is a common issue of Monaco. An investigation represented more than 2,000 Britons live in Monaco made UKs economy lost tax revenue  £1 billion. The issue is 533 directors of UK companies registered their business in Monaco. Tax exiles said that UKs economy receives many benefits from them by creating jobs, paying corporate tax and 19.6% VAT in Monaco (The Times November 20 2012). Thirdly, in Monaco, cost of living is so expensive compared to other countries. It is excellent 13 of 198 countries that have a high standard of living. Education is free for students from 6 year-old to 16 year-old. There is no competition in education so it fells the opportunity to finish on quality provision. The crime rate is lower than other countries (King 2008). According to the Economist (2008), real estate costs were at a high number that is à ¢Ã¢â‚¬Å¡Ã‚ ¬50,000/m2, compared to London and New York was à ¢Ã¢â‚¬Å¡Ã‚ ¬28,000/m2, à ¢Ã¢â‚¬Å¡Ã‚ ¬16,500/m2 respectively caused the lack of space and low tax policy. On 26 September 2012, National Council decided to reform retirement in order to minimize Monegasque society despite the protests of Workers Trade Union. Monthly, workers will pay more contributions to pension caused the government wants to raise capital by reducing labour cost. An increase of employees is 0.8% and 1.8%for employers (The Riviera Times September 9 2012b). Fourthly, The Web 2.0 is a valuable tool for the Monaco Convention Bureau. The objective is to reach the target market by combining technology system what is called email marketing strategy and economic amenities to organizers of seminars, exhibition, congresses and trade shows. Within 1 month, it designed and sent the first email to about 6,000 receipts, including meeting, corporations (Dinnie 2011). On the other hand, Monaco has the highest broadband usage rate in the world was 47.4% in 2009 caused the Internet users got 75.2% of the population (Siaroff 2009). There is no international airport in Monaco. However, the nearest airport is Nice that is only 22km from Monaco, and direct bus services from the Nice airport to Monaco within 45 minutes. Guests can have their journey by helicopter within 7 minutes (Jha 2011, p.24). Fifthly, in Monaco, there is sewage treatment for the city water then it is discharged into the sea by submarine outfalls. In addition, solid wastes are recycled but the weight drop at 70 percent before treatment. The most part of Monaco is an urbanized area (Allah et al. 2012). According the Monaco Government Tourist and Convention Authority (2012), it has a policy to protect and keep clean beaches caused cigarette butts of tourists and smokers grew in the sand on the beach. There are about 4000 ashtrays were giving out to locals and tourist from 1 July 2012 to 15 November 2012. It was remarkably successful in June 2012. Lastly, in Monaco, citizens are not allowed to gamble in casino (Thompson 2012). Gambling is legal that provides government revenue through regulation and taxation between the government and gaming organizations (Strzalko et al. 2009). The goal of integrated resorts is to make money and provide entertainment for guests (Congrave and Klassen 2009). Are balance between gaming operation and non-gaming operation in integrated resorts businesses? Casinos are in integrated resorts offer accommodation, restaurants, retail, spas, pools, conventions in order to attract customers to casinos. All of them are non-gaming activities. Despite strong investment for non-gaming activities, their revenues are not good, compared with revenues of gaming activities (Selin and Davey 2012). Furthermore, in Monaco, casinos provide their revenues for urban development and to upgrade tourism facilities, infrastructure. Monte-Carlo Casino invests monies for security technology to keep safety for its customers. A Dallmeier video security system is used for monitoring and operating by the Monte Carlo Casino. There are approximately 400 cameras. It also use the Pixim-Powered Dallmeier system caused it provides high-quality pictures, and it is ea sy to use and fast for searching pictures in the system by using jog-shuttle tool. All movements in positioning and counting at gaming table, and operations within the casino are operated quickly by Pixims DPS technology (Pixim 2007). What are differences between traditional resorts and integrated resorts? Traditional resort knows as a destination including hotel accommodations, restaurant facilities, swimming pools and other recreational amenities for visitors (Mill 2008). Integrated resort is a resort with mixed development of hotels, casinos, spas, sport facilities, attractions, shopping centres and convention centres (Mallin 2009). Mixed-use resort is a method for development of the tourism market. It combines the development of hotels, entertainments, leisure and sporting activities, retail outlets and attractions (Robinson 2012). The mixed used is hugely popular for developers to support the buildings cost of traditional resort hotel facilities and gets benefits for owners of properties, control of food and beverage and recreational activities (HVS Global Hospitality Services 2011). Sustainable development is an important concept for integrated resorts. The idea of all-inclusive means everything includes in one price. Different resorts have different all-inclusive packages offer to guests to increase the sales of products. For instance, some all-inclusive packages include accommodations, breakfasts and return airport transfers for 2 ways or room, lunch and dinner, and spa treatment with limited time and so on. This is a way to offer promotional packages to customers to change the ways to monitor and manage resorts (Luck 2008). Monte-Carlo Bay Hotel Resort applies the all-inclusive strategy for durable development. Some promotional packages are offered by Monte-Carlo Bay Hotel Resort such as Monte-Carlo Experience Festival Printemps Des Arts package includes 1 night accommodation in a double room, buffet breakfast per person and 2 tickets to attend Printemps Des Arts Festival 2013, and Monte-Carlo Gourmet Experience package includes 2 night accommodation in a d ouble room, buffet breast for per person per day, 1 Monte-Carlo invitation card valued 200 euros to be spent at 20 restaurants belong to Monte-Carlo SBM group (SBM 2011). In addition, most exciting international events are organized in Monaco. It is a destination for all types of events related to culture, sport and leisure. There is a full calendar of famous events through the year 2013 such as Monte-Carlo International Circus Festival, Monte-Carlo Automobile Rally, International Bouquet Competition, Monaco Grand Prix, Monte-Carlo Summer Sporting Festival, Monaco Red Cross Gala, Monaco Yatch Show, Monaco International Trade Fair (Husain 2011). Specially, Monaco is a paradise for sport such as Monaco Formula 1 Grand Prix draws thousands of travellers around the world. The Master 1000 Tennis Tournament has the attendance of all top stars. The 150th anniversary Monte-Carlo SBM properties will be celebrated by the year 2013. Besides, the 25th anniversary of the Louis XV restaurant is the oldest restaurant in Monaco. The large participation of 200 chefs and 300 Michelin stars from all over the world with a wine cellar has 400,000 bottles. This celebration demonstrated 25 years of excellent service and position of Monaco in hospitality industry (Tourismmandlifestylenews 2012). Prince Albert II Monaco Foundation is a policy to protect green environment in order to maintain Monaco, where is an attractive place for tourists and residents. Space is so limited so new development plans for hotels are unable to come to increase competition in Monaco. This is an opportunity for development of SBM. (Thompson 2012).

Moses Mendelssohn :: essays research papers

Moses Mendelssohn lived between the years 1729 and 1786. He was known as the " father of Haskalah " because of his contributions to the Haskalah movement. Mendelssohn was a Jewish philosopher, and got much of his education from his father, the local rabbi, David Frankel. Mendelssohn studied the philosophy of Maimonides. He had written the " Principally Leibnia ",as an attack on the national neglect of native philosophers. Also published by Mendelssohn was the " Philosophical Conversations " in 1755. Between the years 1756 and 1759, Mendelssohn became known as the " leading spirit of the Bibiothek " and ran some risk by freely criticizing the poems of the king of Prussia. In 1762 he won the prize offered by the Berlin academy for an essay on the application of mathematical proofs to metaphysics. On October 1763, the King granted Mendelssohn the privilege of Protected Jew (Schutz - Jude), which assured his right to undisturbed residence in Berlin. Mendelssohn devoted his life to the culture and emancipation of the Jews. He began by his German translation of the pentateuch and other parts of the bible. From this, the Jews learned the German language, German culture, and got a desire for German nationality. Mendelssohn put forward his plea for tolerance in Jerusalem " Oder Uben Religios Macht und Judenthum ". Mendelssohn was a great philosopher, and his contributions to the Jews were and still are great. Samson Raphael Hirsch lived between the years 1808 and 1888. He was the leader of Orthodoxy in Germany in the nine-teenth century. Hirsch was known as the " Jewish religious thinker ", and the " founder of Trenniley-Othodixie " (separatist Orthodoxy). He was the leading spirit in the establishment and of modernized Orthodox Jewish congregation and school system. The slogan of the growing " neo-orthodox " group was " torah combined with wordily wisdom ". They believed in schools that the Hebrew language, Jewish subjects, secular studies, and the school curriculum should be taught. Prussia adopted a law permitting Jews to secede from the general Jewish community and establish separate religious societies. Hirsch wrote " Nineteen Letters "," Horeb ", commentaries on the Pentateuch, Psalms, the Hebrew prayer book, and edited the monthly " Jeshurun ". Hirsch showed Judaism as a community based on faith, aiming at the sanctification of life, the spiritualization of man, and the attainment of an awareness of G-d's presence on Earth. He rejected biblical criticism, and the application of scientific methods to the study of Judaism. Moses Mendelssohn and Samson Raphael Hirsch were different in that Mendelssohn believed in secular education,assimilation within your country, and learning the language of the country ( in his case, it was Germany ) .

Business Law Essay -- essays research papers fc

Case study: David Jones Ltd v Willis (1934) 52 CLR pages 110 till 133. This case has created controversy among the Courts and such justices as Rich, Starke and Dixon. They all have different but similar decisions, relating to The Sales of Goods Act 1923(C ¡Ã‚ ¦th).   Ã‚  Ã‚  Ã‚  Ã‚   Summary This case deals with the defendant David Jones Ltd versus Willis the plaintiff, on the appeal from the supreme court of New South Wales. The case is related to The Sales of Goods Act 1923(C ¡Ã‚ ¦th). In the case the plaintiff purchased a pair of shoes from the defendant David Jones, a retail distributor of footwear not manufactured by it. On the third occasion of wearing the shoes the heel came off while the plaintiff was walking down the stairs. She fell over and suffered injuries. She sued for damages. The court held that there was a breach of the conditions of merchantable quality and fitness for purpose. The judge granted a new trial limited to question of damages. The appeal by the defendant was dismissed by the Full Court of the Supreme Court. Special leave to appeal from the judgment of the Full Court was granted to the defendant by the High Court on question whether there was evidence of implied condition or warranty within the meaning of sec 19 (1) or (2) of the sales of Goods Act 1923.The appeal then came on for hearing. The Sales of Goods Act 1923 (C ¡Ã‚ ¦th) „X  Ã‚  Ã‚  Ã‚  Ã‚  Codifies the common law, with some modifications. „X  Ã‚  Ã‚  Ã‚  Ã‚  In this situation the contact was for a sale of goods. As we can assume that the pair of shoes purchased from the retailer David Jones cost greater than $20 and the plaintiff had evidence in writing such as a receipt. „X  Ã‚  Ã‚  Ã‚  Ã‚  It is a Sales of goods if  ¡Ã‚ §the test is whether the primary objective of the contract is to transfer ownership of goods ¡Ã‚ ¨ in this case that was exactly the situation.   Ã‚  Ã‚  Ã‚  Ã‚   Contract- Section 6 defines a contract for the sale of goods as,  ¡Ã‚ §A contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for money consideration called the price. ¡Ã‚ ¨ (Carvan, Miles C, Dowler W, 2003, 423). The defendant David Jones transferred a pair of shoes (goods), with the plaintiff for a certain price. As there was an exchange of property with money The Sales of Goods Act applies. The pair of shoe... ..., or whether the sales representative knew the particular purpose, it does not seem the parties are going to say something new, even if they were not telling the truth. And it seems the merchantable quality section has been fairly investigated and enough evidence has been obtained to come to a conclusion. In conclusion the sale between David Jones and Mrs. May Elisabeth Willis was a sale by description, it had breeched the implied condition of fitness for a particular purpose along with the implied condition of merchantable quality. Therefore I find the defendant David Jones guilty of sections 19 (1)  ¡Ã‚ §An implied condition of fitness for a particular purpose and 19 (2)  ¡Ã‚ §An implied condition of merchantable quality ¡Ã‚ ¨ as it sold faulty stock to the defendant Mrs. May Elisabeth Willis which caused her to fall down the stairs and brake her leg. The defendant can be sued for damages. I therefore support the trial limited to question of damages. Bibliography „X  Ã‚  Ã‚  Ã‚  Ã‚  Carvan, Miles C, Dowler W, A Guide to Business Law 15th edition. 2003 Sydney: Lawbook Co. „X  Ã‚  Ã‚  Ã‚  Ã‚  Case study: David Jones Ltd v Willis (1934) 52 CLR pages 110 till 133.

Opportunity Assessment Essay

Explain the purpose and value of a business plan to a new or existing business. There is a whole host of reasons to justify the preparation of a business plan, not just for business start-up enterprises, but as a model of good practice for established organizations. First, the process of producing a business plan acts as a very efficient method of focusing the ideas of entrepreneurs in terms of defining their objectives and assessing their own abilities to organize and run the business. A business plan also acts as a means of testing the viability of the business proposal before actually committing its proposers to any substantial expenditure or investment. As there are relatively few entrepreneurs who have the resources to be totally self-financing, most are faced at some point in time with the need to raise external finance. The possession of a business plan is crucial to the business’ future; an appointment with the financier or bank manager who is a potential investor or source of loan to discuss a proposal is a bit like an audition in a Hollywood film – if they blow their lines, they blow their chances, or at least, they reduce their prospects of getting the part they want. Written business plans are essential to guide bankers, lenders or investors in understanding and monitoring the financial strength of the business entity. So the most important thing is to prepare the plan thoroughly and to present it in a professional and competent manner. The elements of a business plan is primarily for the benefit of the lending institution and should not be confused with the strategic or detailed operating plans the business may use for internal management purposes. The kind of business plan any banker, lender or investor looks for should provide broad-based financial and organizational information. It should be made available upon submission of the initial credit request and updated periodically thereafter. Financial statements, together with management’s analysis of financial performance, for the past three-year period are especially essential. In addition, the banker, lender or investor will want to see financial performance projections for the coming two or three years. Define the term `micro business` and outline the contribution micro business make to the Australian economy. The term micro business tends to better describe the smallest niche within the small business world. A micro business is, in general, fewer than ten people and includes some unique needs to that space. It typically requires less than US$15,000 in start-up capital, which means that it does not have access to the commercial banking sector because initial loan needs are usually less than US$15,000. In most micro-enterprises, the owner is the sole operator and worker. The capital needs of micro-businesses are too small to be of interest to formal financial markets, yet too large to be covered by the personal means of business starters particularly if they come out of precarious situations. In more cases than not, micro business owners mix personal expenses with business expenses, clouding the company’s functional cost relationships and making ratio analysis very difficult. Typical micro business operators only keep cash records during the year. They present a ‘shoe-box’ of records to their accountants at year end. They only use their accountant to generate a tax return and set of accounts, which might be received six months after the year end. Market niches tend to be defined geographically. Typically, competitive businesses turn over very rapidly, with frequent new entrants to the market, many ownership changes, and a high percentage of bankruptcies and liquidations. Micro business is a key niche to keep in mind in today’s economy and a field that is quickly starting to gain enterprise attention. The economic significance of micro-businesses to the economy of Australia as well as to the global economy is highly acknowledged. This is for the reason that the involvement that micro-businesses create for both employment and the income it produces. Micro-businesses put in $20,193 million to the Australian industry’s GNP and provide work for more than 1/3 of micro-business workers (Khosrowpour 525). Briefly explain the role market research plays in the evaluation of a business opportunity. An entrepreneur must make a commitment to pursuing a business opportunity long before the outcome of that decision is known. How can he know whether the opportunities he is pursuing have a perfect fit with the marketplace, need to be expedited on a rush basis, and are the right decisions to go ahead with? Market research is the answer. Market research is the compilation and examination of any trustworthy information that improves managerial decisions. An entrepreneur needs to do market research to identify and assess an opportunity. Intuition, personal expertise, and passion can take businessmen only so far. Both traditional and nontraditional marketing research can be used to assess opportunity. Research is vital in strategic evaluation if new ideas for diversifying the business are evaluated or tested out. A company entering a new market with a new product is unlikely to know much about that market, and is going to be dependent on good information for decision making for developing sales of the new product and services. The research is likely to reduce the uncertainty about pursuing the diversification opportunity, and to help managers to plan, based on known and defined customer needs. In all practical terms, the application of market research to identify problems and opportunities and to evaluate programs of activity is as important as in other areas of marketing communications. It is the methodical and objective recognition, compilation, study and distribution of information for the intention of supporting business decision-making activities connected to the detection and resolution of business troubles and prospects. Certainly market research plays an important role in business decision making, but ultimate success in markets is determined by many other factors, not least the commitment of the team, the size and mix of marketing budget, and the ability to react to unforeseen problems. Briefly describe the process by which the total cost price of a product or service is established. Pricing, as a process, can simply be defined as setting or adjusting a price charged to a customer in exchange for a good or service. The need for correct pricing decisions has become even more important as global competition has become more intense. Organizations that have been successful in making profitable pricing decisions have been able to raise prices successfully or reduce prices without competitive retaliation. Pricing policy cannot be established in a vacuum. The selling price of the product or service should be consistent with the entrepreneur’s marketing goals, the image he or she is attempting to project, and the perceptions and expectations of the target market. Also, the pricing decision must be viewed as in interactive process in that there is a strong need for cross-functional interaction. It should be clear that effective pricing decisions involve considerations of many factors, and no single model will fit all pricing decisions. While all pricing decisions cannot be made strictly on the general model to be presented in the next paragraph, it does break pricing strategy into a set of manageable stages that are integrated into the overall marketing strategy. Given a product or service designed for a specific target market, the pricing process begins with a clear statement of the pricing objectives. These objectives guide the pricing strategy and should be designed to support the overall marketing strategy. The evaluation of the relationship of product or service to pricing with respect to the distinctiveness, perishability and stage of the life cycle a product/service is in all affect pricing. In addition, marketers need to consider what value the product/service has for customers and how price will influence product/service positioning. The other components of the marketing mix need to be also examined in relation to the pricing component, in order to arrive at a total price. Although the main basis should be the product or service cost, marketers should combine various criteria in setting prices rather than considering only the costs. What is the difference between a projected Profit and Loss Statement and a Projected Cash Flow? Why do you need both? There are several distinctions between projected cash flow and projected profit and loss statement. Although both are only estimates, one difference is that the projected cash flow statement will record budgeted cash receipts from customers, while the projected income statement will show forecast revenue for the period. Further, the projected cash flow statement will record budgeted cash payments to suppliers, while the projected income statement will show forecast of sales, which will reflect opening inventory, plus purchases, less closing inventory. Furthermore, the projected cash flow statement shows the budgeted cash payments for the expenses such as wages, electricity and rates while the projected income statement will record the expenditure expected to be consumed in the period, reflecting any accounts or prepayments. Lastly, the projected cash flow will reflect the cost of purchasing a non-current asset at the expected date of purchase and the proceeds at the date of sale, while the projected income statement will record a depreciation charge for the consumption of the asset and a profit or loss on disposal. The business needs both of these projected statements because they are important tools of financial analysis. Projected cash flow statement, for instance, is a point of comparison for actual cash flow statement so that the firm can find out the variation and take necessary remedial measures. It also helps in overcoming the problem of meeting deficit cash or investment of surplus cash because projected cash flow is usually prepared on the basis of the past year’s experience. Using the cash flow forecast enhances the business’ versatility and allows it to adjust its planning horizon as the business grows. A projected income statement is likewise an invaluable tool. It will help the business estimate its approximate income and expenses in the short term, from months to a few years. It will give a gauge to judge the financial progress of the company. Outline the legal avenues available to an individual to protect intellectual property. Even though it is an intangible term for a theoretical concept, intellectual property is nevertheless completely well-known to practically everybody. While the underpinnings of material property rights are clear, those of intellectual property rights appear clouded. Intellectual property rights have seen perceptible, indeed substantial extensions in the last decade alone. Copyrights, service marks, trademarks and patents are all types of intellectual property, and are avenues for individuals in the United States to protect their intellectual property. The examination of intellectual property law is significant since intellectual property is captivating an escalating implication worldwide. Copyright and trademarks are directly related to the Web, patents less so except if the thing being patented is a new type of technology that affects how the Web is actually used. Trademarks and service marks are used to protect logos, unique elements, phrases, services and official names that have sufficient distinctive character by which the government recognizes the concept as being unique and wholly owned by the individual. At common law, the individual who utilized a symbol or mark to classify a company or manufactured good was sheltered in the employment of the trademark. Service marks protect services rather than products, which is its main difference with trademark, in where the later protects products. Copyright protects everything that goes into a website or in print. It provides the inventor of a work the right to the restricted utilization of that said work for a certain time. Copyright infringement is all too common, often resulting in lawsuits in which individuals receive handsome compensation for having their work ripped off. A patent is a government endowment that bestows an inventor the private right to produce, utilize and put up for sale the invention for a time of twenty years since the time of filing a request for a patent. If a firm produces, utilize and put up for sale a patented blueprint, produce or procedure without the consent of the owner of the patent, it is obligated with the tort of patent infringement. What are the main advantages of operating your business as a company rather than as a sole trader or partnership? Are there any disadvantages? The primary advantage of operating the business as a corporation is protection against liability. The corporation can protect one’s personal assets in the event of a judgment against the business. This is because the corporation’s assets (cash, real estate, securities, accounts payable, etc. ) do not include one’s personal property and assets such as car, house, bank account, and other personal property. One’s personal property is considered separate from the property and assets of the corporation. A second advantage over sole proprietorship or partnership is organization and efficiency. No matter what form the business takes, keeping one’s personal and business finances and assets separate is crucial to the survival of the business. If one’s business and personal finances are intertwined, it will prove difficult and eventually impossible to sort them out to the satisfaction of say, banks and other financial institutions where one may be applying for business loans. A third advantage is savings. There are myriad instances where, as a corporation, one may be able to save on business costs – savings that might otherwise be unavailable to one as a sole proprietor or partnership business. For instance, business equipment amortization IRS allowance and schedules are generally more favorable for corporations than for individuals and partners. Also, financial institutions tend t give more favorable credit and lending rates to corporations as opposed to individuals and partners. The primary disadvantages, on the other hand, are the record-keeping that is required and the fact that corporations are subject to double taxation – the corporation pays taxes on its profits, and if one receives some of those profits as dividends, he/she will be taxed, too. Moreover, the business has to maintain minimal corporate formalities that will take some time and effort, including government regulation of the creation of the corporation, issuance of stock and operations of the organization. The lack of management skills is the cause of 92% of business failure. Does a successful business operator have to be expert or competent in all facets of business management? Long ago in business literature, experts have researched the role of the entrepreneur in firm failure. Managerial deficiencies, inexperience, and inefficiency are consistent themes in the literature explaining business failure. Researchers found that many firm characteristics – particularly decision-based ones – were directly related to the entrepreneurial characteristics. These included lack of insight, inflexibility, and emphasis on technical skills. Additionally, managerial deficiencies and the financial shortcomings of the entrepreneur also contributed to failure. Other researchers have further found support for the case that lack of management expertise along with financial matters was the most common causes of business failure. Some of these researchers pointed to poor management skills as the most frequently identified common theme in business failure. The significance that is placed on management deficiencies as a cause has therefore warranted a closer examination of the specific areas where these deficiencies are greatest. Although this is the case, it is often unfeasible for a business operator to be an expert on all facets of business management. This is the role of consultants; experts that business owners hire too assist in the facilitation of business management processes. The business operator may not possess the expert comprehension of the specialist (such as technology specialist) but it is the business operator who is familiar with the worth and the prospect of expert knowledge. Thus the management expert has specialized knowledge and the business operator has knowledge breadth and it is through the organization that the two kinds of knowledge are united to create wealth. The proven formula for success involves leveraging limited human and financial resources. For example, most business operators lack at least one critical management function, such as a controller or a sales manager. An outside accounting firm, a part-time employee, a channel partner, or a retired person could perform these functions. You have been approached by a person who has identified a business opportunity and who needs some assistance to evaluate it. Outline the advice you would give to such a person? An opportunity is not just an idea. A business opportunity must grow an idea with the potential to develop with the enterprise that has a reasonable chance to succeed. This means that all of the pieces of the puzzle must come together, and in the right order. There should first be the evaluation of external and internal factors that may influence the potential of the business opportunity. External analysis should consider both the general environment, and big picture, and the industry setting in which the venture might do business. Identifying potential affecters in the external environment is definitely worth the effort, but business concepts make sense only if they fit well with the internal potentials of the business. In other words, the entrepreneur’s understanding of potential business opportunities should be combined with insights into what the entrepreneur is able to do. With respect to the chosen sector/industry, learners need to know how to perform a systematic search for new business opportunities as well as how to analyze and evaluate them. There are many different tools identifying opportunities to determine ideas that are worthy of further development, like Drucker’s Seven Sources of Innovative Opportunity, Boston Consulting Group Matrix, GE Planning Grid, 7-S Model and Competitive Strength vs. Market Attractiveness Model. Assessment can be more ‘real world’ if the task of evaluation relates to an idea, plan or proposal with which an individual can identify personally. Determining whether an opportunity is possibly right for a company is not the same as deciding to enter a business, nor is evaluating an opportunity the same as evaluating a business plan. Grabbing a business opportunity is appropriate only after it has been determined that the opportunity itself is both valid and right for the company and the company has a business strategy and plan to which it is prepared to commit. Once a business has become established, it requires sound management systems to operate efficiently. Describe the system you would put in place to operate and control a small business. If the strategic objectives of the business are to be successfully implemented, then first, it is critical to identify the systems that will need to be in place in order to achieve them. The key management systems will typically be those that actively contribute towards the primary goals or profitability of the business. This includes the production functions that manufacture goods for sale and the sales and marketing that sell those goods to the customers. This is all about having the right resources in place to achieve the desired objectives of the business. Without these key systems in place, the strategic development of the business will not work, which is precisely why they must be right before anything can be started. The second stage is to ensure that the support systems are in place. These are the functions that enable the key systems to operate smoothly, such as the purchasing, stores, administration and distribution functions, not forgetting the management systems to organize and coordinate these. The third stage is to ensure that adequate monitoring and control systems are in place both to monitor the expansion of old or the implementation of new systems, and to monitor the efficacy of the whole strategic process and its component parts. In order to implement both the key systems and support systems, it will be necessary to produce an action plan which identifies the critical dates by which each one of these systems must be in place. The action plan should be regarded as a means to an end, as opposed to something that, once set, cannot be changed. Although it sets the guidelines and targets for the process, it must be flexible enough to account for, and respond to, any factors that are beyond the control of the process. The planning procedures must be, like the workings of each of the systems, subject to the same planning and review cycle if they are to function efficiently.