Word Choice Cite vs. Site

Word Choice Cite vs. Site Word Choice: Cite vs. Site It can be difficult to pick the right words all the time, especially since terms like cite and site sound very similar. However, using correct terminology can gain you valuable marks on your papers, so it is worth learning about easily confused words. Cite (Quote or Reference) The term cite is very important in academic circles, as it means reference: Citing sources clearly is a fundamental part of academic writing. When you quote another authors work, or even paraphrase their ideas, you will need to cite the work you are referring to. Less formally, cite can simply mean to mention in support of something. For instance: Hamish argued that the Scottish are clearly smarter than the English, citing several examples of prominent Scottish inventors. Site (A Place or Position) The term site is mostly used to refer to locations, meaning place or position. As such, you may talk about the site of a house or hospital. You can also use it as a verb, such as if you are discussing where to site a building. Of course, these days site can also be short for website. This is similar to the original meaning of site given above, but refers to the location of a page on the internet, rather than a physical location. Cite or Site? Since cite and site have such different meanings, the main trick is remembering how each one is spelled: Cite (with a c) = Quote or reference something Site (with an s) = The location or position of something Proofreading It can be difficult to spot mistakes like those above, especially when you have been working on a piece of writing for a long time. So why not send it to the professionals at Proofed? We will check your paper for errors and send back a copy showing the changes made, along with helpful comments to help you improve your work.

Society is becoming over-regulated

Society is becoming over-regulated Society These Days Does Society Really Need Regulation? It is impossible to make generalizations about whether society is or is not becoming over-regulated, as all societies require some forms of regulation in order to function, but not all regulations are of equal value. Instead, rather than trying to assess whether society as a whole is over-regulated, which is too sweeping an assertion to be either proven or disproven, we should unpack the problem of which sorts of regulations are excessive or superfluous and which are needed, and how the issue of the degree to which regulations are enforced is just as important as their existence on the books. Regulations: from Absurd to Necessary The first category of regulations we might consider are obsolete statutes that still remain part of the legal code despite having been rendered obsolete by either changing customs or new technology. In Missouri, for example, it is illegal to drive with an uncaged bear in ones car. Other laws date back to the time when horses and carriages were common modes of transportation. More relevant to todays students are what are sometimes called blue laws that regulate what is considered moral behavior, including sexual acts, and alcohol and drug use. Many of these, such as those concerning what sexual acts are permitted between consenting adults, are impossible to enforce and anyway seem to many people an intolerable limitation on what should be purely personal decisions. Others, such as the laws against pedophilia, seem to be morally justifiable. Another category of laws that in some peoples view constitute forms of over-regulation are those concerning the private use of alcohol, marijuana, and other addictive or mind-altering substances. While most people would agree that some regulation is needed, especially regulations that prohibit young children from accessing such substances, everything from the age at which people should be allowed to make their own decisions to which substances should be regulated in what manner are matters of controversy. My own position on this is that these substances are both over- and under-regulated. On the one hand, making substances illegal or limiting the days on which one can buy alcohol in stores is ineffective in preventing substance abuse. On the other hand, some forms of regulation, such as laws against drunk driving. have saved many lives and strengthening such regulations along with making public transit affordable and widely available might save even more lives. Legalizing recreationa l drugs but closely regulating them for quality and safety might also save lives; in this case, I would argue that many drugs are both over-regulated, in so far as personal use is criminalized, and under-regulated in the sense that quality and safety are not adequately monitored. The Nanny State While many people have issues with what the British term the nanny state that regulates many aspects of personal choice or behavior, peoples opinions vary on what specific regulations are justified. The attempt of New York City to prohibit the sale of soft drinks in servings of over 16 ounces was eventually overturned but still serves as an example of regulatory overreach. Although drinking a 32-ounce soda is not good for ones health, if someone wants that quantity of soda, that is a matter of personal choice. Moreover, as people could have bought two 16-ounce containers under the law, it would not have been a particularly effective way to encourage healthy eating habits. On the other hand, regulations that insist that accurate nutritional labels be made clearly visible to customers seem a legitimate form of regulation, as such labels allow us to make informed choices about our own health. What these examples show is that regulations in our society can be either beneficial or harmful. Some regulations are excessive or absurd, while others are necessary. In some areas, especially ones relating to health and safety, more comprehensive regulations and stricter enforcement would be desirable. Food should be safe to eat and water safe to drink. In other areas, though, regulations can be intrusive or even harmful. Thus our society can neither be said to be over-regulated or under-regulated, but rather we can conclude that we should look at each individual regulation on its own merits.

Human behavior in orgzations Essay Example | Topics and Well Written Essays - 500 words

Human behavior in orgzations - Essay Example It is, because organizational behavior has a direct influence on productivity that is the chief managerial concern. Defining organization behavior Robbins (p.11) states, â€Å"OB is concerned with the study of what people do in an organization and how their behavior affects the organization’s performance.† OB is a very vast concept that may include the study of simple disciplinary matters of employees, interactions, reactions, employment of power and skills, turnover, leadership, performance, communications, actions and perceptions etc. hence there is no consensus on the definition of OB among researchers and scholars. Minor (2006, p. 40) observes, â€Å"Although it does seem that consensus is at a rather low level overall within organizational behavior, there are subfields and sectors where this is not the case.† However, Ostrof, Kinicki & Tamkins (cited in Kinicki, p.41) have presented a more comprehensive and objective definition of the concept, â€Å"Organizational culture is the set of shared, taken-for-granted implicit assumptions that a group holds and that determines how it perceives, thinks about, and reacts to its various environments.† The increasing need to understand and react according to the demands of organizational behavior has exposed managers to tough challenges of interpersonal skills and expertise. Today, the effectiveness and success of a manager is heavily associated with his knowledge and commitment to the OB. Studies have shown that managers with better communication and networking skills are effective and successful. Managers need to administer human resource extensively and keeping in touch with lower level employees and higher-level managers simultaneously has become inevitably important to achieve managerial objectives for the organization. Horizontal and vertical communication with individuals and groups can help to bridge gaps and evade

Write a case study of a contemporary ecotourism issue in which you Essay

Write a case study of a contemporary ecotourism issue in which you integrate aspects of theory and practice from a wide range of material - Essay Example In the third section I will give examples of elements that threaten to saturate the carrying capacity of nature based tourism in Kenya. In the fourth and final section I will give a brief historical account of ecotourisms presence in Kenya and give ways in which it can be a possible source of sustainable development in the future. Part 1: What does sustainable development really mean? The most common definition of sustainable development is: development which meets the needs of the present without compromising the ability of future generations to meet their own needs (World Commission on Environment and Development, 1987).ï ¾ µ In essence, for sustainable development to occur there must be some sort of trade-off between the aspirations of the present and those of the future. Successful management of resources is the cornerstone of sustainable development. Creating sustainable development is especially important to nature based tourism because it completely relies on an ecological re source that is usually non-renewable and irreplaceable. Once the environmental resource has developed past the point where it is no longer attractive to perspective tourist the entire economy of the dependent host community will collapse. The maximum amount of positive development that can occur is determined by the carrying capacity. The carrying capacity is the saturation point where anymore development will result in the degeneration of future resources. All nature-based tourism locations have limited ecological, aesthetic, and social carrying capacities. The ecological carrying capacity is reached when the number of visitors starts to have a negative impact on the wildlife and environment (Whelan, p. 11.). The aesthetic carrying capacity is reached when tourists encounter so many other tourists that the intrinsic value of the beauty of the environment is marred (Whelan, p. 11). The social carrying capacity is reached when the number of tourist in relation to the host population

Inclusive Education Essay Example for Free

Inclusive Education Essay The management of inclusion is a source of enormous challenge to many schools across the globe. Developed countries in particular are faced with the mounting challenge of ensuring that every child is educated up to adequate standards (Ainscow 1995). Similarly, families that have children with special needs are seeking institutions that can provide their children with the standard level of education received by other children. Educational Institutions are also in a similar boat, continually faced with the mounting challenge of accepting and responding to the diversity that each child brings to the classroom. While many definitions of inclusion are pervasive, it remains widely accepted that the notion of inclusion involves welcoming and encouraging diversity amongst all learners. Inclusive education can be viewed from different perspectives. Different educational settings and social communities have differing perceptions of what it means. Most literature however start with the general notion that education is a basic human right that forms the foundation of every just and fair society. However, the basic elements of its meaning can be categorized into four. Ainscow (2005) suggests the first element involves seeing inclusion as a process – a continuous process that analyzes and recommends improved ways of responding to diversity by accepting and learning from peoples’ differences. Every one’s difference is seen as an asset which can be used to ensure learning takes place under varied and flexible circumstances. Ainscow (2005) also refers to the second element of inclusion as identifying and removing barriers. The teachers or managers of the inclusion process should be actively involved in collecting, analyzing and managing information from diverse sources which can be applied to policy refinements and modifications. The third element is centered on enforcing active participation and goal achievement for each student. The fourth element highlighted by Ainscow (2005) is the need for teachers or those in charge of learning to place an increased emphasis on those who are at greater risk of being marginalized or who are less able to benefit from the current modes and aspects of learning. In summary, Ainscow (2005) suggests that the practices that are pervasive in most organizations today is a reflection of present culture and norms. Learners may be impeded from learning optimally under certain conditions due to over learned behaviour imposed by social institutions and their thinking patterns. Consequently, Ainscow (1999) suggests that the development of inclusive practices should focus on reforming the way actors think in order to be able to realize the full potential of inclusive education and make its practice more reinforced in schools across the world. Armstrong (2003) describes inclusion as a set of principles, values and practices that are executed to initiate a revolution of education systems and communities.   It seeks to challenge thinking that is conditioned to assume that certain pupils need to be dealt with in a particular way (Armstrong 2003). According to (CSIE 2010) Inclusive education has a long history but centers on the need for equality and human rights. It is based on a moral perspective that values and respects every person while welcoming diversity. Schools are becoming more open to people of different abilities, backgrounds, ethnic and cultural histories. Consequently, there’s an extensive need for schools to fend for different learners. According to CSIE (2010), inclusion in education has a large number of connotations and the basic ones include:  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The need for schools to value everyone including staff and students equally.  · The participation of all students in cultures and learning communities, while reducing barriers to their learning and the inclusion of students, even though categorized as having special educational needs  · Revamping school’s practices and policies so that they are responsive to the variety of students within the region  · Learning from attempts at inclusive education and implementing the changes more widely  · Acknowledging the basic right of every child to a fair education and recognizing that inclusion in education is paramount to inclusion in society.  · Emphasizing the role of schools in community development, sustaining relationships and adjusting the resources of the schools to support learning. According to CSIE (2010), the world is changing and stereotypical thinking needs to be nipped in the bud. Valuing some people over others is deemed unethical; people should not be prevented from participating in culture and curricula and neither should segregated schooling be used for children with special needs since it violates their right to education without any form of discrimination (Ainscow 1994). Academic achievements should not be the sole aim of schooling there is also the moral and personal development that every child should have a right to. Also, isolating schools and communities from each other deprives students of rich and multifaceted experiences that can enhance their learning. The right to an inclusive education is in Article 24 (Education) of the United Nations Convention on the Rights of People with Disabilities (2006). Even though the idea of inclusive education is generally accepted, some schools have reservations to it and claim that they do not have the resources to cater for all categories of children. It is unclear whether this problem is persistent due to funding, personal reservations or a lack of resources. In addition, inclusive education can be seen as an educational practice that emphasizes that students who can learn normally, without any learning inhibitions, spend time with those who have special educational needs which may be of any form. This type of inclusion emphasizes the child’s right to participate while schools are also inclined to accept the child as they would any other normal child. This principle rejects the use of special, isolated classrooms and learning environments for students with disabilities. The social, civil and participatory rights of students are emphasized and form the heart of any inclusive education strategy. It is a collective form of education in which all types of children can sit and learn together and it proposes the need to emphasize diverse learning approaches to handling children with varying educations and academic limits. With inclusive education, children who were previously excluded may now spend time with other children, which would not have been possible earlier. The use of segregated schooling is however still pervasive and one must bear in mind that Inclusive education does not apply only to disabled children but to everyone (CSIE 2010). The Benefits of Inclusive Education There are a number of ways to analyze the benefits of inclusive education. This section will start off by examining the benefits to disabled children. There are many aspects to inclusive education that can benefit disabled children as well as the normal children. Children with special needs would have the chance to learn in the same environment as normal children; they are thus subjected to the same learning environment and resources which will on the long run, ensure that they also have the opportunity to learn at the same pace as the normal children. Inclusive education may also nip in the bud, future psychological problems that a child may have when they eventually become aware that they have special needs. Inclusive education helps them to mix with other children thereby reducing possible issues of inferiority complex that may arise in the future. With inclusive education, schools can become flexible to adapting to the needs of the children, and not the other way round. The differences between the students can also serve as a means of achieving diversity and variety – the educational facilities and teachers would then have to develop unique responses to deal with each child (Ainscow 1999). In terms of society, the benefits are multi-fold. Inclusive education can help in forming stronger links between schools and communities. This on the long run will lead to stronger societies, partnering, consolidation and the forging of self respect for every individual in the society.   For developing countries, the benefits are extensive. Education is one of the hallmarks of any progressive society and as such should not be taken lightly. Inclusive education would give every child the right to fair education and a chance of a bright future. Inclusive education should be central to the educational polcies of any country claiming to be democratic. When countries embrace this ideal, it promotes a culture of fairness, comraderie and may nip societal ills such as racism and discrimination in the bud.

Data Warehousing Essay -- essays research papers fc

Data Warehouses In the past decade, we have witnessed a computer revolution that was unimaginable. Ten to fifteen years ago, this world never would have imagined what computers would have done for business. Furthermore, the Internet and the ability to conduct electronic commerce have changed the way we are as consumers. One of the upcoming concepts of the computer revolution in the past ten years has been that of Data Warehousing. In the following pages, we will examine this concept in the broadest sense first looking at a brief history of how databases and data warehouses have unrolled. Then we will look at Data warehousing, what it is, its definition, etc. Secondly, we will focus in on how it coincides with the Internet/Intranets and how this is affecting business today. Finally, this discussion will be summarized in what the future might hold for how information is stored and the effects the Internet will play in the scheme of things. Before examining the development of data warehousing and how d atabases are emerging in business, let’s first review what has been done with data before data warehouses to better understand this issue. In the 1970’s virtually all business system development was done on the IBM mainframe using tools like Cobol and IMS. The 1980’s brought about mini-computer platforms such as AS/400 and VAX/VMS. The late 1980’s and early nineties made UNIX a popular platform with the introduction of client/server architecture. During the past decade, the sharply increasing popularity of the personal computer on business desktops has introduced many new options and opportunities for business analysis. The gap between the programmer and the end user has started to close as Analysts now have at their fingertips many of the tools required to gain proficiency in the uses of spreadsheets and databases. The most important factor in this evolution of data warehousing has been the sharply increasing power of computer hardware. Along with the increase of this power, their prices have fallen just as sharply. This has played a key role in business today. No longer will high costs and huge ma inframes be dominant factors in our ability to do business. The wide array of choices with the PC has allowed databases to evolve quickly both commercially and on the information superhighway So what is a Data Warehouse? A data warehouse is... ...arts into the warehouse environment.   Ã‚  Ã‚  Ã‚  Ã‚  In the research of the up-in-coming concept of data warehousing, I looked into the many fundamental concepts that surround it. Using information from a vast amount of places and using it along with extranets, intranets, and the internet will be a requirements to compete in today’s global economy. No longer can large companies such as IBM and General Motors rely on simple database programs to do business. It is now at a much larger scale, entailing customer’s suppliers, and everyone within the company to access the information. Data warehousing is, by all means, a wave of the future. However, with the wave come growing pains and technological advancements that will take time to overcome. From all information present, along with past surveys, companies must choose to make information available, accurate, and above all fast. Works Cited - Bennis, Warren, and Robert Townsend, Reinventing Leadership. New York: William Morrow, 1995. - Robbins, Stephen P., Essentials of Organizational Behavior. New Jersey: Prentice Hall, 1988. - Smith, Hedrick., Rethinking America. New York: Random House, Inc., 1995.

“Exchanging Our Country Marks” by Michael Gomez Essay

In Exchanging Our Country Marks, Michael Gomez brings together various strands of the historical record in a stunning fusion that points the way to a definitive history of American Slavery. In this fusion of history, anthropology, and sociology, Gomez has made expert use of primary sources, including newspapers ads for runaway slaves in colonial America. Slave runaway accounts from newspapers are combined with personal diaries, church records, and former slave narratives to provide a firsthand account of the African and African-American experiences during the eighteenth to the mid-nineteenth centuries. With this mastery of sources, Gomez challenges many of the prevailing assumptions about slavery– for example, that â€Å"the new condition of slavery superseded all others† (48)– and he advances intriguing new speculations about the development of a collective African-American identity. In Gomez’s words: â€Å"It is a study of their efforts to move from eth nicity to race as a basis for such an identity, a movement best understood when the impact of both internal and external forces upon social relations within this community is examined†(4). According to Gomez this identity emerged out of a mixture of African identities. Throughout his study Gomez illustrates how Africans transferred their unique culture and heritage to the New World. He uncovers the harshness of the Middle Passage, and describes how some enslaved Africans attempted suicide, some successfully. Africans did not embrace the institution of slavery, and many chose to run away. The millions of Africans brought to America would not have thought of themselves as African; they were Asante, Yoruba, or Igbo, their lives and characters defined by village or nation. Gomez devoted a chapter to Muslims that had a religious identity connecting them to Arabia and Palestine rather than their native land. The Muslims brought with them a different idea about themselves and their world. As Gomez noted, the societies of West Africa also had their own histories. These the societies changed during the four centuries of the slave trade operation. Slave traders arrived at a part icular point in their history. There arrival influenced their history; it did not create it. Gomez provides an understanding of what happened in West Africa before, during, and after the slave trade. Gomez opens his book with Denmark Vesey’s 1822 â€Å"experiment† in building a multi-ethnic community displaced Africans in Charleston, South Carolina. Vesey tried to replace ethnic diversity of African peoples with a united movement of Africans in America based on the Bible. â€Å"We must unite together as the Santo Domingo people did†, Vesey told his followers, who nonetheless still organized themselves by ethnicity, with an Igbo column and Gullah column (3). Vesey’s uprising failed, but not his experiment. The African peoples came to define themselves along racial, rather than ethnic lines, though they would continue to transmit stories of their own ethnic cultures to their children. Just as Europeans immigrants came out of specific historical and social contexts, the Africans had individual social, religious, and historical identities. Gomez encourages a re-examination of African-American history by suggesting how different communities of Africans resp onded and transferred their unique culture and heritage to the New World and also shows how particular African societies and cultures continue to shape our society. For example, the Kissi of Sierre Leone lived in rural villages, with out a strong governing state. They formed secret associations that acted as loose governing forces over their dispersed rural settlements. In their society women were autonomous, performing most of the society’s agricultural work. The Kissi came to America with no desire for political power. The Akan, on the other hand, had a highly organized political society. For centuries, they had dominated the gold and kola nut trades. After being conquered by the Asante in the eighteenth century the Akan succumbed to the slave trade, entering America not only experienced with centralized power but also politically insecure after the long-standing Asante threat. Members of the Kissi and Akan came to America with profoundly different outlooks on life. Gomez examines both the African communities from which these people came and the specific places in North America to which they were taken. The ethnicity of Africans brought to Virginia, to South Carolina, or to Louisiana shaped the African American communities on those areas much more than did the nature of their work or other factors. The Bambara and Malinke people from the Senegambia region who were transported to colonial South Carolina and  French Louisiana brought with them their technological skill in growing rice. The first slave ships to reach Louisiana, in 1719, brought both African slaves and African rice seeds. By the end of the century, however a greater proportion of African brought to Louisiana were Yoruba, Fon, or Ewe. These people Gomez argues, synthesized the complex Yoruba region into â€Å"hoodoo,† which Gomez neither romanticizes nor belittles. Besides ethnicity and race, Africans religion had a significant impact on African American culture and survived the psychological intrusion of American Christianity. Gomez is convincing in his accounts of Islam and Christianity. Islam, Gomez suggests, â€Å"may have influenced African -American culture in ways herefore unimagined† (82). Gomez’s goal is to find out how these different peoples and societies influenced their world. Muslims brought to America carried a feeling of cultural supremacy and a connection with the wider world- a mixed identity that separated them from other Africans. But this separation from other Africans, which amounted to a transcendence of ethnic category, allowed the Muslims to develop bonds of community with other Africans more easily than Africans who still identified with their own ethnic cultures. Gomez argues that Muslims were more apt to enter Georgia, South Carolina, and Louisiana than the Chesapeake, perhaps numbering in the thousands . Muslims, Gomez argues, also made significant efforts to practice and preserve their religion. Evidence for this claim includes praying beads found in slave cabins, the construction of churches facing east, and names found in runaway ads and slave registers. Gomez explains how the ring shout and the relationship of water baptism were important African elements that survived in the black church. For example the â€Å"shout was an indication of social rank and ancestral identification†(270), and â€Å"baptism was a means by which the community grew closer,† whether â€Å"salt water or county born†(273). Both were â€Å"important vehicles in both conversion and movement towards reconceptualization, resistance and defiance†(274). The ring shout was not simply a transitional tool for creating racial identity. For Igbo, the ring shout had a particular social purpose, that is, to preserve community identity. Gomez relates the tendency of Igbo slaves in America to commit  suicide with folklore about flying back to Africa, or disappearing. The ring ceremony in Aliica was a way to solidify community identity and to bring the living into communion with ancestors. The Igbo in America simply adapted it to their new setting. As the nineteenth century progressed blacks embraced Christianity but the â€Å"liturgy was Africanized†(279). Also, blacks preferred the Baptist denomination because it was decentralized and democratic. Just as some Africans would use the ring shout as a metaphysical return to the homeland and others as a means to forge a new community in America, Africans and African -Americans had different recollections of the slave trade that had caused their dislocation. Gomez analyzes two sets of traditions. In one set, Africans were tricked onto slave ships by Europeans offering them red cloth. But in another tale, King Buzzard, an African king, was condemned to travel alone through the world as a buzzard for betraying his own and other people into slavery. The significance of this tale for Gomez’s argument lies in its transformation of historical fact. When Africans enslaved other Africans, they did not view themselves as betraying their own people. They would have regarded the mselves as Aro or Asante or Wolof selling Igbo or Akan or Manlike. Folktales like the one about King Buzzard, created in America to explain the origins of African slaves, gave to these different people a common origin on the distant continent. The Africans’ change from the self-awareness of ethnicity to that of race emerged from a common servitude, white attitudes, and â€Å"an internal dialogue†(242). Association and location figured importantly as blacks in the Deep South, living in close proximity to one another, resisted creolization, in contrast to Upper South blacks, a minority in close proximity to a white majority. Conversion to Christianity, a slow process, was helped along by incorporating familiar African practices such as the ring shout, water baptism, and funeral rites. Conversion, however, separated converts form the unconverted. By 1830, when Gomez concludes his book, African-Americans were divided by rival visions, one a future partnership in North America, the other a past â€Å"as close to the bosom of Africa as they could get†(292). This book contains numerous firsthand accounts detailing the social transformation of African-American culture in the New World. Gomez’s argument is convincing; he succeeds in uncovering how ethnicity and race affected the African American community in the colonial and antebellum South. His work is carefully organized, with many landmarks for the reader. Exchanging Our Country Marks is well balanced and written; it is a significant contribution to the African experience in American.

As Business Studies Unit 1 Revision Notes

Unit 1 Business- Revision * Enterprise- The ability to handle uncertainty and deal efficiently with change. * Entrepreneur- someone who has a flair for business ideas and has the confidence to take the risks involved in setting up a business. * Successful entrepreneurs: * Passion * Motivate people around them * Determined to succeed * Self-belief * Common characteristics of successful entrepreneurs: * Self-confidence- believe in your ideas; products and be able to motivate others. * Initiative- being prepared to start something. * Hard working- not easy to set up a business. * Creativity- inventing new products, finding new ways to do things. Resilience- be prepared to redesigned and rethink, don’t let setbacks put you off. * Taking risks. * Small Businesses: * Less then 50 employees * Value of sales less then ? 2. 8 million * Value of balance sheet is less then ? 1. 4million * Why do people set up businesses? * Be your own boss * Work from home * Help others * Gap in market * Redundancy * Peruse a hobby * Make money * Risks: * No job security * Loose money * Others could copy idea * May not have regular income * Debt * Competition * Demand for product falls * Rewards: * Enjoy * Personal pride/satisfaction * MAKE MONEY * Satisfied customers Provide employment * Benefit family * Government Support * Financial- grants, subsidies, tax cuts and loans. * Provide info and support- websites e. g. business link * Create enterprise zones * Reduce regulation- red tape * Revenue expenditure is every day expenditure – gas, electricity, paying suppliers for materials, petrol, wavers and salaries. * Capital expenditure is expenditure on assets- car, machinery and equipment. Sources of Finance * Retained profit: * Whatever profits the business makes is ploughed back into the business to make it grow. * Advantages * Doesn’t have to be repaid No interest charges * More the business grows, more of a profit you make * Disadvantages * maybe limited- constrain rate of business expansion * may run out quickly * still have to pay money back * the more profit you put back into the business the less you get to keep * Sale of Assets * Assets are the things the business owns. * Where the business sells things of their own to raise money. * Advantages * Get money but loose an asset * Dispose of unused assets * Get your money back straight away * Finance development without extra borrowing * Disadvantages Costs money to transfer assets * Taxed on capital gains * Grow in value quicker than what the cash can yield elsewhere * Personal Sources (owners funds) * Its money put into the business by the owner * Advantages * Doesn’t have to be repaid * Immediately available and accessible * Disadvantages * If the business fails you’ve lost your own money * Bank Overdraft * Balance of a bank account when funds withdrawn exceed funds deposited * Arranging a flexible loan on which the business can draw as necessary up to an agreed limit * Advan tages Flexible- there when you need it, helps to maintain cash flow and you only borrow what you need. * Quick – Overdrafts are easy and quick to arrange, providing a good cash flow backup with the minimum of fuss * Disadvantages * Cost  Ã¢â‚¬â€œ Overdrafts carry interest and fees; often at much higher rates than loans. This makes them very expensive for long term borrowing. You also face large charges if you go over the agreed overdraft limit. * Recall – Unless specified in the terms and conditions, the bank can recall the entire overdraft at any time.This may happen if you fail to make other payments, or if you have broken terms and conditions; though sometimes the banks simply change their policies. * Security- Overdrafts may need to be secured against your business assets, which put them at risk if you cannot meet repayments. * Trade Credit * Where they can purchase goods and pay at a later date * Advantages * You can buy the stock and pay later when you have sol d the stock and made enough money to pay them back * Eases the cash flow as you can pay after 28-30 days * Disadvantages If you do not pay them back on time you can build up a bad credit history * Only companies with good credit history can be accepted the trade credit grant * Hire Purchase * A business can buy an asset and pay over a period of time with interest. * Advantages * Don’t have to pay it all at once- spreading costs * More money to pay for your own business * Disadvantages * The item you’ve bought could be out of date by the time you’ve finished paying. * Interest could be added. * Leasing * Renting assets * Advantages * Don’t have to pay interest Service & maintenance included * Don’t have to worry about money being withdrawn * Equipment upgraded every few years * Friends and family more willing to lend * Not giving control up * Disadvantages * Money you’ve used for leasing could go else where * The item never belongs to you * B ank Loans * Sum of money lent for a fixed period of time with interest * Advantages * Length of loan can vary * Interest is fixed * Loan guarantees business has money * Bank has no control of business * Disadvantages * Interest rates * Loose possessions due to debt Pay it, even if you’re not earning profit * Venture Capital * Capital invested in a project in which there is a substantial element of risk, typically a new or expanding business. * Advantages * Provide a mentor * Don’t need to repay money back * Helps the business get money externally * Disadvantages * Loose some control of the business * Pay legal & accounting fees * Lengthy process * Share Capital * Any investors that put some money into the business get a share of the profits * Advantages * Helps you start up * Don’t have to pay it back * Business will grow If your bringing extra shareholders in, it will bring in additional expertise’s * Disadvantages * Loose some control of business * Have to give out a share of your profits each year * Business Angel * Is an individual who provides capital for a business start-up usually for business equity * Advantages * have experience from the business angel * good financial start * experiment with ideas * Disadvantages * Give up some of your business * Higher risks of being took * Factors that determine which source of finance to use: * Length of time- short term or long term Control- how much are you willing to give up? * Amount needed * What is the money needed for? * Affordability- can you afford to repay? * Level of risk you are willing to take * Type of business Costs * Expenditures made by a business in order to carry out trading. * Types of costs: * FIXED- those that do not change with levels of output or sales. Also known as indirect cost. * VARIABLE- these that change directly with level of output or sales. Also known as direct cost. * Total costs = Total Costs Fixed Costs Variable Costs Total Costs Fixed Costs Variable Costs * Total Variable Costs OutputTotal Variable Costs Output Average variable cost per unit= * Total Revenue/Turnover * The value of sales over a period of time * Selling price No of Units Sold Selling price No of Units Sold * Total Revenue Total Costs Total Revenue Total Costs Profit- what is left after total costs have been deducted from revenue. * Contribution * not the same as profit- fixed costs are not subtracted * Selling Price per unit Variable Costs per unit Selling Price per unit Variable Costs per unit Goes towards paying your fixed costs, and the left over is profit. * Total Contribution: * you can increase this by: increasing selling price * reduce variable costs per unit Contribution Per unit No of Units Sold Contribution Per unit No of Units Sold * Break-even * Fixed costs of business Contribution per unit Fixed costs of business Contribution per unit The number of products you need to sell or make to cover costs, and not lose anything or make profit. * Break-even Graphs * Margin of safety * Difference between current sales and break-even point * It shows the amount by which demand can fall before the business starts making a loss * What can affect the breakeven point? Action| Effect|Increase fixed costs | Break-even rises, need to make/sell more to break-even| Prices increase| Increase in revenue, break-even point falls| Increase in variable costs| Break-even point rises | Fall in demand | Break-even point is not effected but margin of safety is reduced| Price cut| Break-even increases| * Strengths of Break Even * Simple to understand and useful for ‘what if’ scenarios e. g. what happens if there is a price increase, increase in costs etc. * Helps to estimate future sales or level of output needed to meet objectives in terms of profit * Helps with business decision making e. . to see if a business start-up or new product is viable * Supports applications for finance e. g. loans from the bank * Weaknesses of Break Even * They are predictions for the future, therefore not always reliable due to changes internally and externally in business environment * Assumes all output is sold- not always the case * Only as good as the data on which it is based, therefore inaccurate or poor quality data make it not very useful * Cash Flow Forecasts * What is it? * It’s a prediction showing timings of cash inflows and cash outflows of a business * Its SHORT TERM It shows the impact on a business’ bank balance * NOT THE SAME AS PROFIT * A business may have the potential for profit in the long-term but have short-term cash problems * Purposes: * Forecast when outflows exceed inflows * Plan when and how to finance major items of expenditure * Ensure liquid assets are available to meet payments * Highlight when cash surpluses could be made better use of * Justify to lenders that borrowed funds can be repaid * Benefits * Indicate periods of time where there might be cash flow problems e. g. egative cash flow * Put plans in place to cover periods of negative cash flow e. g. arrange an overdraft or short term loan * If there is significant negative cash flow to identify outflows may be reduced * Review timings and amounts of recipes and payments (e. g. may need to reduce credit terms to customers or extend credit terms with suppliers) * Show to a potential lender or investor e. g. bank of venture capitalist or business angel. * Limitations * Inflows might be inaccurate due to poor market research or incorrect assumption e. g. hat there product will be of higher demand * External factors may affect your forecast e. g. rise in inflation which increases costs, competitors, weather, major event e. g. the Olympic Games * Inexperience- a person new to business has no historical data to base a cash flow on. Their inexperience may also cause them to make inaccurate predictions * Unexpected cost increases e. g. due to inflation or weather * Budgets * A budget is a financial target for the future coveri ng revenue (income) and expenditure * Expenditure budget- allocates money to ‘cost’ areas e. g. alaries, rent, advertising * Income budget- sets out sales revenue target for a department or whole business i. e. how much money they are expected to bring in * Profit budget- sets out target profit for a business or department or individual over a given time period * Why budget? * Help you to not overspend- dependent on good financial control and monitoring * Help with risks- contingencies * Help to motivate staff * Giving financial responsibility * Help with trying to secure funding * Gives you something to monitor against * Help to improve financial efficiency Stages in setting a budget * Benefits of Budgeting * Help motivate staff e. g. given sales targets * Gives people financial responsibility * Helps to control costs * Gives employees financial responsibility * For a new business helps it to assess whether it is viable or not * Can persuade lenders of the viability of the business * Provides clear goals – gives the business something to work towards * Allows monitoring of financial performance against targets * Disadvantages * Time consuming * For a new business there is no historical data * Gathering information can be costly Level of inflation not easy to predict * Can be demotivating for staff if imposed rather than agreed * May be unforeseen changes e. g. in tastes. Supplies, external environment * Inexperience – if you’re not experienced you might make mistakes * Variance Analysis * Measures the difference between forecast budget figures and actual budget figures * A – adverse – negative, not good * F – favourable variance – good ++ * Favourable variance occurs +++ * Where actual profit higher than budgeted * Where actual sales lower than budgeted * Where actual costs lower than budgeted * Adverse variance occurs — Where actual profit lower than budgeted * Where actual sales lower than budgeted * Where actual costs higher than budgeted * Protecting Businesses Rights * Intellectual property * Is property that results from original creative thought, as patents, copyright material and trademarks. * ALL businesses have IP * Your IP is likely to be a valuable asset, it could include * Name of business * Products/services you provide * Written/artistic material you create * Your IP rights can: * Set your business apart from competitors * Be sold or licensed, providing a revenue stream * Offer customers something new or different Form an essential part in your marketing and branding * Be used as security for loans * Patents * A patent is an exclusive right to use a process or produce a product usually for a fixed period of time, up to 20 years * Needed to ensure that competitors cannot copy inventors ideas * This ensures that the inventors can recoup the initial research and development cost * This allows companies to gain an advantage over their competitors and increas e their revenue * Companies can sue other companies that breach these terms and stop them selling the product e. g. Dyson and Hoover * Benefits The patent holder has exclusive commercial rights to use and license the invention * Legal action can be taken against anyone who tries to use this invention without the patent holders consent e. g. competitors * The existence of the patent may be enough to deter would-be infringers * The patent can be sold * Drawbacks * A full description of the invention is published and can be viewed by anyone applying to the appropriate patent administration office. * After the exclusive patent period other people or businesses can freely use the invention without needing permission from or making a payment to the inventor. The cost of the patent may out-weigh the financial advantages of the invention. * Patents take time to create as they need to be very specific * Trademarks * A word, image, sound or smell that enables a business to differentiate itsel f from competitors * Designated by symbols * TM – unregistered trademark GOODS * SM – unregistered service mark SERVICES * R – registered trademark * Advantages * TM and SM can be used to claim ownership without registration * Help owner protect mark from being used by competitors * Once company has trademark ownership it will have exclusive rights worldwide * Disadvantages Owner has to show proof of use at regular intervals – if documents aren’t filed could lose trademark * Weakest IP protection as it protects marketing concepts and not always product itself * Have to pay fee for registration and renewal * Copyright * The protection given to books, plays, films and music * This ensures that people cannot copy or use protected items without the owner’s permission (and usually at a cost) * CR can protect: * Literacy works e. g. ovels, instruction manuals, song lyrics, newspaper articles * Dramatic works e. g. dance or mime * Musical works * A rtistic works e. g. paintings, engravings, photos * Layouts or typographical arrangements used to publish a work e. g. a book * Recordings of a work e. g. sound and film * Broadcasts of work * Advantages * Right to produce and reproduce their work * Right to authorise others to produce or reproduce * Prevents your work from being stolen or misused * Allows copyright holder to sue infringers Disadvantages * Does not allow you to permit others to use your work or to distribute it * You must own the copyright to be able to exercise the rights it grants. Being creator does not always grant ownership * Takes time and costs money * Designs * An industrial design right is an IP right that protects visual designs of objects that are not purely utilitarian (useful) * A recognised design is a legal right which protects the overall visual appearance of a product in the country or countries your register it in. For a designs registration to be valid: * Has to be new * Have individual character * Advantages * Allows owner to control who uses it and how. * Allows author of a creative work to profit from it by charging for its use or by selling or licensing the rights * Gives owner exclusive rights to the use of the property * Deters others from misusing it * Allows owner to take legal action more easily against anyone who uses the design without permission * Compensation for misuse * Disadvantages * Registration can to expensive Not all designs can be registered * Have to be renewed after 25 years * Franchising * A franchise is a business structure in which the owner of a business idea (the franchisor) sells the right to use that idea to another person (the franchisee) usually in return for a fee and a share in any profit the franchisee makes. * A franchisee is a person or company who has paid to become part of an established franchise business e. g. subway or Specsavers * A franchisor is the owner of the holding company and franchise * FRANCHISOR Advantages| Disadvantages| Franchisor can expand business quickly | * Potential loss of control over how the product/service is presented| * Franchisor earns revenue from the franchisees turnover | * Difficult to control quality as franchise network expands | * Risk is shared- much of the cost is met by the franchisee| * Co-ordination and communication problems may increase as it grows | * Franchisee may have good entrepreneurial skills which will earn the franchiser revenue | * Some franchisees become powerful as they acquire a number of franchises | * FRANCHISEE Advantages| Disadvantages| Franchisee able to sell an already recognised and successful product/service| * Proportion of revenue is paid to franchisor | * Take advantage of central services such as marketing, purchasing, training, stock control and accounting systems and admin provided by franchisor | * Franchisee may not fell that business is his/her own. And may not benefit from the personal rewards of entrepreneurship | * Franchisor may have exp erience in the market that the franchisee can benefit from | * Right to operate franchise could be withdrawn | * OVERALL FRANCHISE Advantages| Disadvantages| Existing business format| * Business format already set out | * Banks more likely to lend to a franchise then to a new business | * Still an element of risk involved in buying a franchise, no guarantee of success | * Less risk then new business | * Other franchisees may give the brand a bad reputation| * Already established business | * Maybe difficult to sell the franchise | * There’s thing you need to research before buying a franchise: * Is there any upfront costs? * Any fees need to plan? May need to lease property or equipment from franchisor * How is franchisor making money? Regional protection – guarantees franchisor isn’t going to sell other franchises or open up outlets nearby * How many franchises fail in a year? * Value of a re-sold franchise, is it a profitable investment? * Legal Factors * Publ ic Limited Company (PLC) * Is owned by shareholders and shares can be bought and sold publicly. Advantages| Disadvantages| * Access of funds | * Flotation can be expensive to process| * Many investors| * Company must have ? 50,000 in shares capital and have 25% in shareholders before trading. | * Bankers and lenders see stable business| * Not possible to keep control| * | * Nothing topping competitors buying shares| * | * The owner is not in control. | * Partnership * is more than one person in business together without having a company Advantages| Disadvantages| * few steps to follow to become a partnership| * loss of control| * additional skills | * no liability, can lose possessions | * more capital | * got to be able to trust partner| * share strain| * legally bounded| * different skills | * | * Processes: * Formal documents have to be written * All partners have to agree to and sign the 1980 partnership act * Have to draw up a deed of partnership Private Limited Company (LTD) * Is that the owners are shareholders and their ownership of the business is determined by the proportion of the total shares each person holds. Advantages| Disadvantages| * Access to funds through shares | * Bankers may see business as a risk | * Can’t lose control | * More complicated setup | * Stable structure | * Lenders may see limited liability as a risk| * Limited liability | * | * When shareholders die/resign the business doesn’t stop| * | * Processes: * Have to keep detailed record once trading * Complicated process to setup Sole trader * Is the most common and simplest form of business organisation, it is one person operating a business alone. Advantages| Disadvantages| * Simple and quick to setup | * Unlimited liability | * Inexpensive to setup | * Difficult to raise additional finance | * Any profit made is the owners to keep or reinvest | * All decisions rest with owner| * Owner has complete control| * Drive comes from the owner | * Close relationship betwe en the business and customer can be built up| * | * Hours of work can be tailed to suit entrepreneur| * | * Processes: Very little needed to setup * When up and running must keep basic records for tax, national insurance and VAT purposes. * Not-for-profit businesses – social enterprise * A charitable company that doesn’t keep profits. Advantages| Disadvantages| * Entrepreneurs can earn a living doing something valuable | * Profits and social aims may conflict – difficult choices | * The more successful the more society benefits| * The entrepreneur will always have to accept a lower return than with a profit making business, because a proportion of the profit will go towards the social aim. * Customers may be more willing to buy from a social enterprise | * | * Easier to recruit, motivate and retain employees | * | * Grants or other forms of finance are available | * | * Unlimited Liability- the debts of the business are the owners responsibility * Unincorporated business- owner and business have no separate legal identity. * Added Value * â€Å"the difference in value between the price of the finished product and the cost of materials used† * it is the value of the process of transformation of INPUTS into OUTPUTS * Inputs- also known as the factors of production raw materials i. e. cotton and wheat * labour * land e. g. building and rooms * capital * enterprise * Outputs- is the product or service or benefit to the customer * Business is a process where INPUTS are processed to produce OUTPUTS * At each stage of the process VALUE is ADDED so that the finished product is greater than the sum of value of all the inputs * Adding value you could: * Branding * Quality * Design * Unique features – unique selling point * Size * Reputation * Range of products * Packaging * Celebrity endorsement * Good service * Offers * Location * Additional services Qualifications of staff * Transformation process * This refers to the process or proc esses that factors of production go through in order to produce goods and services. How business activity is classified: * Benefits of adding value * You can charge more * It differentiates you from the competition * Reduces the sensitivity of demand to changes in price * Higher profit margins * Can target product or service at a different marker segment * Business Plan * Is a document setting out the business idea and showing how it is to be financed, marketed and put into practice.It is likely to be crucial part of an attempt to raise finance from outside sources such as a bank. * A detailed document that looks at the workings of a new business. * Structure of a Business Plan 1. Introduction/summary/overview 2. Details of product/service 3. The market- who your customers are 4. Marketing plan – how are you going to attract customers? 5. Staffing plan- employ who? 6. Operational plan- logistics of business e. g. how customers will pay, where you will source things from†¦ 7. Financial plan 8. The future – long term plans, growth and expansion * Benefits Essential planning tool – makes the business think carefully about all aspects of the business * Set objectives against which the business can then measure progress and performance * To support application for finance/funding * Identify any problems or pitfalls e. g. lack of expertise in the business * A written down plan enables continuity, for example, if the owner becomes ill or unable to work in the business for a period of time * Helps assess the viability of a business – is it likely to succeed * Disadvantages Time consuming to research and draw up * Lack of expertise – first time entrepreneur may not have knowledge needed * Forecasts may not happen e. g. sales might not be as predicted * Can be too rigid if owner tries to stick to the plan – needs to be flexible * Market Research * Gathers info about consumers, competitors and distributors within a firms tar get market * Primary Research- data collected by the entrepreneur, or paid to be collected, which does not already exist. Pro’s| Con’s| Aim directly at your objectives | * Expensive,? 10,000 per survey| * Latest info | * Risk of it being bias e. g. interviews and questionnaires | * Assess psychology of customer | * Research findings may only be useable if comparable back data exists. | * Methods: * Observation * Focus groups * Test marketing * Questionnaire – telephone, face to face and email * Secondary Research – data already in existence that has not been collected specifically for the purposes of the entrepreneur. Pro’s| Con’s| Often obtained without cost | * Not updated regularly | * Good overview of a market| * Not tailored to you | * Based on actual sales figures, or research on large samples| * Expensive to buy reports on many different market places | * Sampling * the entrepreneur does not have the resources/time/skills to research everyone so a choice has to be made to select a proportion of those that could be researched * Random sample * Not haphazard * Computers used to generate random lists of people * Quota sample * Characteristics of marker Can be cheaper and accurate * Collected on street corner * Stratified sample * Randomly chosen from a sub-group * Sample size * How many people you want to interview? * Consideration * Cost, time, target market * Quantative Data: * Data in numerical form. An example is ‘8 out of 10 owners who expressed a preference said their cats preferred Whiskers’. * Quantative data is usually collected from larger scale research in order to generate statistically reliable results. * Good for establishing key info about a business and its market * Numerical information * Focuses on what is happening. Techniques * Online survey * Telephone survey * Questionnaire * Qualitative Data: * Data about opinions, attitudes and feelings. It is usually expressed in terms of why p eople feel or behave the way they do. * Difficult and expensive to collect * More revealing and useful * Information about attitudes, feelings and opinions * Focuses why it is happening * Techniques * In-depth interviews * Group discussions * Exam Tips: * When asked to analyse market research carried out, consider the following * Reliability of the research e. g. was it up-to-date? How representative was the research e. g. was the sample representative of the target market. * Sample size – was it large enough to be valid and reliable? * Response rate * Questions – were the right questions asked? * Bias – is the research likely to be bias? Who was asked? Was the method appropriate? E. g. questionnaires often produce bias results. * Market Share, Size and Growth * Market Share – * This is the proportion of a total market accounted for by one Product Company. * Market share can either be expressed as a % or as a value of the overall market * X 100X 100 Compa ny Value Company Value Total value of the market Total value of the market * Market size- * The total sales for a whole market e. g. pet food – expressed in the terms of value (? s) or units. ( don’t know how to calculate it, no specific formula) * Market Growth- * Change in Size Change in Size Measures the percentage change in sales (volume or value) over a period of time. X 100 X 100 Previous Market Size Previous Market Size * To calculate the change is: * New Market Size – Previous Market Size * Understating the Market Market- anyone willing and with the financial ability to buy a product or service. * 2 types: * Electronic market * Does not have a physical presence, but exists in terms of a virtual presence via the internet. * Many businesses have gone from ‘brick to click’ * In fact there are business which exist to help other business create an online presence (e. g. shopcreator. com ) Advantages of Virtual Presence| Disadvantages of Virtual P resence | * All customers are equally near from the business so distribution costs are reasonably constant. * Price transparency| * The world is the market| * Might get a lot of ‘hits’ doesn’t mean people are buying| * Less expensive – marketing & distribution| * No sales staff to encourage & advise| * 24/7 opening, no need to close| * Website crashes| * No requirement for an expensive location. | * Security issues| * Start-up costs lower| * Some people like to go to a shop and browse| * Business can react quicker to customer requests| * Lack of help and support. | Factors Affecting Demand * Price- some products/services have a demand which is very sensitive to price changes. Competition- the actions of competition particularly in relation their prices, or the features of their products will affect demand. * Incomes- some products/services have a demand which is very sensitive to changes in people’s income. * Marketing – there is a relationsh ip between the amount of money spent on marketing and the demand for the product. * External Factors- such as seasonality will also affect demand and possibly price. Market Segmentation. A technique where a whole market is broken down into smaller sections to identify groups of consumers with similar characteristics. * Segmentation characteristics: * AGE * CULTURE * GENDER SOCIAL CLASS * LIFE – CYCLES * INTERESTS/ LIFE STYLE * INCOME * Benefits: * Help them to know customers and suit their needs * Increase sales * Make more profit * Retain more customers * Increase market share * Improve marketing. * Limitations: * Need a good knowledge of the market – a small business start-up may not have this. * Can be difficult to predict customer behaviour – they don’t always behave like predicted. Location * Location is the place where a firm decides to site its operations. * Location decisions can have a big impact on costs and revenues. * E. G. * Skilled labour av ailable * Low land cost * Low rent * Close to customers High unemployment * Low unemployment * Close to raw materials * Close to suppliers * Cheap labour * Government assistance e. g. grants * Room to expand * Within the EU trade area * Low corporation tax * Access to ports * Excellent road networks * Low transport costs * Quantative factors – those that have a numerical value attached to them e. g. low rent * Qualitative factors – other factors associate with, for example, quality of the infrastructure or labour available. * Infrastructure – the fundamental facilities and systems serving a county, city or area, such as transportation and communication systems, power plants and schools.Employing People * Staffing options * Full-time – a member of staff who works in excess of 30 hours per week. Benefits| Drawbacks| * Available all the time to handle unexpected events. | * High cost. | * Able to build up better working relationships with each other- spendin g a lot of time together. | * Might not give the business flexibility in terms of an ability to increase capacity. | * Build up relationships with customers or suppliers. | * | * More loyal and committed. | * | * Take advantage of training opportunities. | * | Part-time – a member of staff who generally works fewer than 30 hours per week or a fraction of a full-time contract. They have the same employment rights as full-time employees. Benefits| Drawbacks| * Flexibility | * Difficult to access training| * Can be used when there are busy periods of trade| * Difficult to communicate between part-time staff| * Extend trading & production periods| * Less able to build close relationships with customers| * Allows people to manage work alongside other commitments, such as family| * Cost of employing and managing people on a part-time basis may not be much lower than full-time. * Job share – wider range of skills and talents| | * Small business- starting point, allow small bu sinesses to build slowly| | * If someone doesn’t want to work full-time they can become part-time and the business still has valuable experienced staff. | | * Temporary- employees who are employed for fixed periods of time, often seasonal workers, can be part-time or full-time. Benefits| Drawbacks| * If the volume of business may be uneven or uncertain the entrepreneur can keep the level of staff very flexible. | * May not know the working of the business or its culture. * Specific tasks or jobs may need doing which may have a finite time period. | * Not as motivated as permanent. | * Business could lack certain skills which are only needed for specific period of times| * Make communication difficult. | * Help a business through a period of short term staff shortage- e. g. maternity cover. | * Customers may not like a constantly changing workforce e. g. service businesses. | * May eventually become permanent. | | * Consultants & Advisors- * Businesses or individuals who provi de professional advice or services over a specific period of time for a fee. Small businesses often use consultants for advice on specific issues as it is more cost effective than employing a permanent member of staff e. g. for advice on marketing, human resources etc. Benefits| Drawbacks| * Bring in skills and expertise. | * Can be expensive. | * More cost effective. | * Not know business as well as employees. | * Adjust size of work-force up or down quickly. | * May not be motivated to work hard. | * Assessing Business Start-ups In order to be able to assess the success of a business you have to look at the original objectives. Business objectives: * Objectives are quantifiable targets set by an organisation against which they can measure their success. * Clearly defined targets for a business to achieve over a certain time period. * Possible objectives: * Profit maximisations- tying to earn as much profit as possible – but this might conflict with other objectives. * Profi t satisfying – making enough profit without risking too much stress or loss of control through employment of too many professional managers. * Survival- primary objective in the first few years of any new business. Sales growth- the owners try to make as many sales as possible. * Social objectives- the main objective would be to correct on of society’s problems but there may be a financial requirement to at least break even too. * Benefits- * Give direction and focus to the owners and the people who work in the business. * Create a well-defined target so the owners can make appropriate plans to achieve these targets. * Inform lenders and investors of the aims of the business. * Give a guideline for assessing the performance of the business overtime. * Must be SMART: Specific- clearly related to only that business * Measurable- putting a value to an objective helps when assessing performance * Agreed- by all those involved in trying to achieve the objective. Increase mo tivational impact. * Realistic – should be challenging but not impossible. * Time specific- should have a time limit so performance can be assessed effectively. * Why new business fail * Insufficient capital * Poor management skills/ lack of experience * Poor location * Lack of planning * Poor market research * Over-expansion * External factors – e. g. price increases, competitors. Niche MarketsA small and clearly identifiable segment of a market. E. g. specialist sports cars, gluten-free food, vinyl, bespoke furniture, tailor-made clothing. Characteristics: * Relatively few customers, therefore small volume of sales. * Premium priced, therefore good potential for profitability. * Product is often highly differentiated. * Usually too small to attract larger businesses, therefore attractive to smaller businesses. Advantages| Disadvantages| * Little competition – easy to gain market share. | * Tend to have higher fixed costs as they are spread across relatively sm all volumes of output/sales. * Can charge premium prices – potential for higher profit. | * Degree of specialisation makes niche markets vulnerable to changes in market conditions. | * Can focus on needs of individual customers and respond quickly to changes in these needs. | * Successful niche may attract interest of larger firms – small firms may find it difficult to compete. | * Allow small firms to compete effectively. | | * Gain â€Å"first mover advantage† i. e. first in the market, can establish brand/image. | | * Can target market more effectively e. g. have a more personalised service. | |

Great Gatsby - Summary of Chapter V essays

Great Gatsby - Summary of Chapter V essays In the night Nick comes home from the meeting with Jordan. Gatsby passes by and asks Nick if he wants to go swimming in his pool. But Nick refuses the offering because he is too tired. In their short conversation they talk also about the invitation of Daisy. They agree on the day after tomorrow. Nick invites Daisy for tea the following day and asks her to come alone. At the day of the meeting Gatsbys gardener cuts Nicks lawn and a greenhouse delivers flowers. At three oclock Gatsby comes over looking exhausted and pale. Nick and Gatsby talk a bit and Gatsby is about to go home as Daisy arrives at four oclock. Entering the living room with Daisy Nick notices that Gatsby is gone. Gatsby knocks a few moments later on the front door and is lead in the room by Nick. Daisy and Gatsby are embarrassed by the presence of each other and they dont really start a conversation. After a tea in a tense atmosphere Nick leaves them alone. When he comes back both are in a happy mood but Daisy seems to have been in a sad mood before. They decide to go over to Gatsbys house, because Gatsby wants to show her his enormous house. Ending up in the bed room Gatsby tells them that he has got a man in England who buys him clothes. Daisy is very fascinated by his great collection of shirts. Gatsby urges Klipspringer to play the piano. According to Nick Gatsby finds out that Daisy does not come up to his dreams. ...

Overview of French Interrogative Adverbs

Overview of French Interrogative Adverbs Interrogative adverbs are used to ask for specific information or facts. As adverbs, they are invariable, meaning they never change form. The most common French interrogative adverbs are: combien, comment,  oà ¹, pourquoi, and quand.  They can be used to ask questions with est-ce que  or subject-verb  inversion  or to pose indirect questions. And some can be worked into to nimporte (no matter)  expressions. 'Combien (de)' Combien means how many or how much. When its followed by a noun, combien requires the preposition de (of).  For example: Combien de pommes est-ce que tu vas acheter ? How many apples are you going to buy?Combien de temps avez-vous  ? How much time do you have 'Comment' Comment means how and sometimes what. For example: Comment va-t-il  ?   How is he doing?Comment as-tu fait à §a  ?   How did you do that?Comment  ?   What?Je ne vous ai pas entendu.   Ã‚  I didn’t hear you.Comment vous appelez-vous ? What’s your name? 'Oà ¹' Oà ¹Ã‚  means where. For example:   Oà ¹ veux-tu manger  ?   Where do you want to eat?Oà ¹ est-ce qu’elle a trouvà © ce sac  ?   Where did she find this bag? 'Pourquoi ' Pourquoi  means why. For example: Pourquoi à ªtes-vous partis  ?   Why did you leave?Pouquoi est-ce qu’ils sont en retard  ?   Why are they late? 'Quand' Quand means when. For example Quand veux-tu te rà ©veiller  ?   When do you want to wake up?Quand est-ce que Paul va arriver  ?   When is Paul going to arrive? In Questions With "Est-Ce Que" or Inversion All of these interrogative adverbs can be used to ask questions with either est-ce que or subject-verb  inversion. For example: Quand manges-tu  ? / Quand est-ce que tu manges  ?   When do you eat?Combien de livres veut-il  ? / Combien de livres est-ce quil veut  ?   How many books does he want?Oà ¹ habite-t-elle  ? / Oà ¹ est-ce quelle habite  ?   Where does she live? In Posing Indirect Questions They can be useful in indirect questions. For example: Dis-moi quand tu manges.   Tell me when you eat.Je ne sais pas combien de livres il veut.   I dont know how many books he wants.Jai oublià © oà ¹ elle habite.   I  forgot where she lives. With 'N'Importe' Expressions Comment, oà ¹, and quand can be used after nimporte  (no matter) to form indefinite adverbial phrases.  For example: Tu peux manger nimporte quand. You can eat whenever / anytime. And the Literary Why: 'Que' In literature or other formal French, you might see an additional interrogative adverb: que, meaning why. For example: Quavais-tu besoin de lui en parler  ? Why did you have to go and talk to him about it?Olivier et Roland, que nà ªtes-vous ici  ? (Victor Hugo) Olivier and Roland, why arent you here?

When is it ethically responsible to leave a job or leave the Assignment

When is it ethically responsible to leave a job or leave the profession - Assignment Example Some of the consequences of the creation of ethical stress include the fact that the nurses might be experiencing frustration, physical illness, and interpersonal conflict. These consequences might prompt them to leave their position or the profession altogether. A study by Ulrich and O’Donnell†¦et al, (2007) indicates that about 80% of oncology nurses had high ethical stress scores due to the conflicts existing between their obligations towards patients and the rules in the organization. With some of the organizational values in a health care setting being the provision of adequate patient care, the ethical climate in this case is not representative of the shared care perceptions (Chan et al, 2013). This might prompt a nurse to leave the position, considering that the ethical decision-making processes are not reflective of the human values and interactions. On the other hand, Flinkman, Isopahkala-Bouret and Salantera’s research on the ethical responsibility of nurses to leave their profession indicates that their inability to offer proper care is a contradiction to their ambitions and talent (Flinkman et al, 2013). Scott et al (2008) reports that a large number of nursing graduates leave the profession due to poor working environments. Despite this fact, it would be appropriate for nurses to leave the profession when their moral obligations contradict those upheld by medical institutions since they might not be in a good position to offer their services properly (Morrell, 2005). Chan, Z. C., Tam, W. S., Lung, M. K., Wong, W. Y. & Chau, C. W. (2013). A systematic literature review of nurse shortage and the intention to leave. Journal of Nursing Management, vol. 21, no. 4, pp. 605–613. Flinkman, M., Isopahkala-Bouret, U., & Salantera, S. (2013). Young registered nurses’ intention to leave the profession and professional turnover in early career: A

Canadas Amnesty International Essay Example | Topics and Well Written Essays - 1250 words

Canadas Amnesty International - Essay Example The international group’s basis is the Universal Declaration of Human Rights as well as other human rights policies, statutes, and benchmarks. Canada’s AI harnesses the available global resources and ensures nations will increase implementation of the human rights of the nations’ inhabitants. The Canadian AI group espouses equality. Equality includes offering equal opportunities to persons of different classes to achieve their goals and dreams in life. Equality includes offering equal chances to individuals from different races to prosper in life. The council supervises the International executive committee. There are more than 80 AI offices strategically located in many countries around the world (Clark, 2010). Furthermore, the AI’s Canada Branch has its local executive committee. The committee oversees the Montreal branch and the Ottawa branch. The branch has more than 79,999 members. The group advocates for better treatment of prisoners. AI –Canada was able to gather more than $11,250,000 funds during 2011 alone. An estimated 44 percent of the money was funneled to the conducting of researches, missions, and reports, worldwide campaigns, trial observers, and helping other global agencies such as the United Nations achieve their own set of predefined goals and objectives. The key ingredients to AI’s Canadian branches are open membership, measurable goals, program evaluations, evolution, and efficiency-related itineraries (Clark, 2010). Race. In the workforce, one article states that the nonwhite workers greatly suffered from work discrimination policies (Baines, 2008). The work responsibilities were normally classified as white jobs and non-white jobs. AI should increase its current efforts to reduce human rights abuses. For example, the AI must focus on reversing the race issue covering up the issue of job title or job responsibilities (Clark, 2010).