We Must Regain Our Lost Civil Liberties Essay -- Privacy Act, Patriot

With our nation’s catastrophe of September 11, 2001, emerged a profoundly shaken America, stunned by the degree of the remorselessness. A demonstration of psychological warfare of that extent had never been found in our nation. Nationalists immediately met up, supporting the president to pass enactment, known as the USA Patriot Act, to handle inward and outside dangers to this country. The discussion resulted, concentrated on which kinds of reconnaissance innovation ought to or shouldn't be took into account capturing psychological militants. Be that as it may, the inquiry stays with respect to how these gadgets will be utilized, and how by and by are the individuals who utilize them considered responsible. The motivation behind this paper is to affirm that the proposed checking and filing of users’ data on long range interpersonal communication locales would speak to one more disintegration of our common freedoms for just a minor increase to our national security. The USA Patriot Act or basically the Patriot Act authorizes the utilization of wiretaps, extra observation of innovation, for example, voice message and email, trap and follow gadgets, and requests for instructive and business records. The Department of Justice legitimizes that such activities in criminal examinations, have been utilized for quite a long time. In any case, this activity goes under extraordinary investigation by pundits, for example, the ACLU who keep up that the mystery encompassing the utilization of such devices just as lower models for accomplishing the position to utilize them â€Å"represents a wide extension of intensity without working in an important security protection† (The USA PATRIOT Act: Myth versus Reality, n.d.). The Patriot Act was marked into law on October 26, 2001, 45 days after the fear monger assaults on September eleventh. The discussion over what the Patriot Act really permits law authorization officia... ...om http://www.guardian.co.uk/usa/story/0,12271,1669540,00.html National Security. (n.d.). American Civil Liberties Union. Recovered from http://www.aclu.org/National-Security Presidential Powers, NSA Spying, and the War on Terrorism: Americans’ Attitudes on Late Events †Overview. (2006). American Civil Liberties Union. Recovered from http://www.aclu.org/safefree/nsaspying/24262res20060224.html The New York Times (2009, December 12). Twitter Tapping. [Editorial]. Recovered from http://www.nytimes.com/2009/12/13/conclusion/13sun2.html The USA Patriot Act. (2005). Recovered from http://www.epic.org/protection/psychological warfare/usapatriot The USA Patriot Act: Myth versus Reality. (n.d.). Recovered from http://www.justice.gov/file/ll/subs/add_myths.htm

Throughout the Great Depression, the unemployed in the United States Essay

All through the Great Depression, the jobless in the United States stayed a crippled and scattered mass that made li - Essay Example The U.S is one of the countries that accept on work creation as one of the best method of boosting the national economy. Its lawmakers from a few gatherings have remembered the issue of occupation creation for their plans to win more votes however overlook it the second they climb to power2. It is unreasonable to put the whole fault on the government officials alone since the issue of joblessness in the nation is each one’s obligations. For example, it is more than clear that the U.S residents pick less requesting courses like social and craftsmanship based courses whose fields are as of now swarmed. They leave the outsiders to study innovative, clinical and common science courses which are as yet attractive in the activity markets. After the graduations, the U.S would consistently retain the outsiders who studied complex courses and give alluring compensation bundles while the U.S residents who studied less requesting courses remain jobless3. Lawmakers in the nation don't mer it any fault in this situation. Each understudy is constantly given equivalent chances to seek after any course contingent upon the students’ capacities. Be that as it may, some fault would be coordinated to the legislators. For example, the 2007 worldwide money related emergency that saw more than 500,000 U.S residents from both private and administrative areas lose their positions. The officials requested different monetary establishments to offer some unbound credits to the land division just for the advances to stay unpaid because of a reasons4. The administration needed to pull back certain sums from the national treasury to settle such credits. In the occasion, the national and worldwide economy was undermined and this saw a few people lose their positions among different impacts. The human rights activists have been supporting for the expansion in business rates. There have been a few occasions when the human rights activate the jobless U.S residents to show in signifi cant lanes with banners depicting the requirement for ascend in business rates. Such cases have likewise been depicted in various stages like sites, web pages, national telecom stations, and national papers and through street battles among others. Nonetheless, the administration through the national and country security is constantly sharp at whatever point more than 10 U.S residents accumulate to raise their cases with respect to expanded joblessness rates5. This is on the grounds that whatever starts like a basic and serene showing as a rule go up to be brutal and an odds to plunder from significant stores in the nation. It is accepted this is one of the administration techniques to keep the country quietness in spite of the expanded paces of joblessness. Top U.S legislators have likewise requested fro the capture or even death of top human rights activists upholding for expanded business rates. Political investigator mourn that such cases can cause the residents to lose trust in a specific government and call for unrests, similarly as it occurred in Egypt and Libya among different countries. A few business reports show that unlawful U.S foreigners structure the best rate in the national employment advertise. This is on the grounds that they are given progressively decreased compensation bundles among different advantages. The illicit foreigners are constantly edgy for work open doors for food. Besides, their bosses are constantly soothed of some work guidelines like protection among others. It is

IELTS Band 9 Essay Samples - What to Know About IELTS Band 9 Essay Samples

IELTS Band 9 Essay Samples - What to Know About IELTS Band 9 Essay SamplesIELTS band 9 is a competitive exam. If you want to pass, you need to get started with the right IELTS band 9 essay samples. The best way to pass is to go through IELTS band 9 essay samples for free.These are the original IELTS exam books, and the highest quality. You won't find a better way to study than this. You can start writing right away.The chapters are arranged in different kinds of exercises. Each chapter has several examples to help you with your essay. Some examples are written for people with a UK national, while others are written for non-nationals. This helps to build your vocabulary.Other than the essays samples, you also have practice questions. This allows you to keep the pace while you learn. It also helps you to get feedback from your teacher.Practice test questions are also included in the manual. There are two types of practice tests. First is the multiple choice part and the other is the ti med part. You can use both to practice and focus on what you need to practice more.So now you know how to start getting that perfect score, and this has also helped you know what to do as far as practice is concerned. Now, with the free IELTS band 9 essay samples available, you don't have to buy any of the books. You can use the resources available to get started.You can get started now. Start practicing now and start writing IELTS band 9 essay samples and practice in the practice format.

Exercise Among College Students Exercise - 1182 Words

Abstract Obesity has been a struggle that Americans have been trying to fight over the years but according to study’s many Americans don’t exercise at all. Although exercise is encouraged to Americans the obesity rates continue to increase. College students are vulnerable to weight gain because of the environment and obstacles that surround them. A survey was conducted at the University of Texas at El Paso asking the students questions towards exercising. This literature review will inform the reader how exercise plays an important role in a student’s life benefiting them in a variety of ways. Exercise among college students: A Review of Literature Many individuals become concerned about their weight and talk†¦show more content†¦Lack of exercise affects all individuals in any type of discourse community. Therefore college students should be encouraged to get exercise being that the students are vulnerable to gaining weight through college. Nelson (2009) expresses how parents are the encouragers and they report that 52% of students do not get exercise. If parents can encourage students to study, make friends, and join sports then why don’t they encourage them to exercise? Many college students are not aware of the importance of exercising and the benefits it comes with. A survey was taken at the University of Texas at El Paso asking the college students how important exercising was to them. Figure 1 shows the results: Out of 23 students 11 felt like exercising was extremely important. There was 2 students who believed exercise was slightly important which explains the numbers of Americans participating in physical activity going down. According to Desai (2008) â€Å"overweight and obesity are increasing nationally† (p. 1). In some cases lack of knowledge toward exercising can result in not getting the amount of exercise needed for the body and brain respond properly. Aballay (2013) informs the audience that the â€Å"National comparative studies found that the prevalence of obesity in the adult population is over 20% in 17 of 20 Latin American countries† (p. 2). The obesity rates are high in many countries; many have adjusted to this new lifestyle. According to Knopp (2010) the average weightShow MoreRelatedLack of Exercise Among College Students Essay691 Words   |  3 PagesLack of Exercise among College Students For most people it is common knowledge that maintaining an active lifestyle and exercising on a daily basis is essential to a healthy life, research shows that approximately fifty percent of all college students see a decrease in regular exercise following high school graduation (Kilapatrick 2005). The decline of regular exercise displays a problem in more then a few colleges; the correlation of increased sedentary lifestyle and decreased physical activityRead MoreThe Importance Of Physical Education1361 Words   |  6 Pages Today’s generation of college students have been infected with social media poisoning, which places little to no importance on physical activity. Their idea of exercise consists of how fast their fingers type. Immediate changes need to be implemented in the education system to avoid serious long-term effects. College physical education courses are designed to promote a healthy lifestyle through education and exercise. The main objective of the education system incorporating physical educationRead MoreThe Effects Of Physical Inactivity On College Students920 Words   |  4 Pagessuggests that approximately 36.7% of all college students are overweight/obese, with numerous at risk for weight gain throughout the college years (McDaniel, Melton, Langdon, 2013). â€Å"Emerging adults, such as students transitioning from home to a collegiate environment, savor the independence and responsibility of making their own decisions† (Musselman Rtledge, 2010). Such autonomy can l ead to poor dietary choices and physical inactivity. Sustained over the college years, these lifestyles might explainRead MoreThe Role Of Peer Pressure On College Students1235 Words   |  5 PagesThe college culture praises unhealthy behaviors, such as binge drinking and the use of drugs such as marijuana, for us immature and still developing young adults. A popular reason for why college students partake in this extremely unhealthy behavior is the phenomenon we have been taught in schools and experienced all our lives: peer pressure. Authors, Nancy P. Barnett, Miles Q. Ott, Michelle L. Rogers, Michelle Loxley, Crystal Linkletter, and Melissa A. Clark, of the article, â€Å"Peer AssociationsRead MoreThe Effects Of Stress Among College Students Essay855 Words   |  4 PagesOver the years many studies have been conducted to determine what creates stress and how college students can cope with stress. Stressors in a student’s life can be created through personal, educationa l and social experiences. A student faces many experiences while transitioning from high school, to college, and into adulthood. These experiences include: living arrangements, personal finances, important career decisions, experiences of failure, interpersonal relationships, and personal financesRead MoreStress Experience By Millennial College Students Essay1505 Words   |  7 Pages Stress in College Students Helen W. Bland, Bridget F. Melton, Lauren E. Bigham, Paul D. Welle Georgia Southern University, University of Georgia, Carnegie Mellon University Author’s Note Helen W. Bland, Department of Public Health, Georgia Southern University; Bridget F. Melton, Department of Health and Human Science, Georgia Southern University; Lauren E. Bigham, Department of Counseling Psychology,University of Georgia; Paul D. Welle, Department of Engineering and Public Policy, CarnegieRead MoreNewton s First Law Of Motion Essay1458 Words   |  6 Pagestwenties. Because a major portion of this age category is in college, it is crucial for universities and community colleges to provide physical education to help students achieve and maintain a standard level of physical and mental fitness outside and inside the classroom. At one time, the American physical education programs were producing strong bodied and strong willed children. The common gymnasium was no less than an arena for students to release pent-up energy and to display their physical abilitiesRead MoreRecently, More And More People’S Bodies Started To Have1381 Words   |  6 Pagescalled exercise. I think everyone is familiar with this word, and we always meet people who exercising in our daily life. Such as students who like to run in downtown or on university campus, a few of student workout at the gym, and so on. Even for some old people, they also like to join the pace. I have been keep doing some simple exercise every day in the past 3 months. Right now, I have lost almost twenty pounds. so I would like to share some experiences about what kind of benefits exercise can provideRead More Critiquing Internet Sources The author is keen in analyzing the issue of excessive consumption of800 Words   |  4 PagesInternet Sources The author is keen in analyzing the issue of excessive consumption of alcohol among college students. He acknowledges that excessive drinking is a common problem among college and university students and wants to explore why such students indulge in such a risky behavior. The author uses a reliable number of students when looking at the drinking problem and chooses the correct age, which is students below 21 years (Dodd et al, 2010). The results of the author’s research are reliable andRead MoreHuntingdon College. Huntingdon College Has A Tiny Campus1017 Words   |  5 PagesHuntingdon College Huntingdon College has a tiny campus of only three acres in a pleasant neighborhood of Montgomery, Alabama. The campus is listed on the National Register of Historic Places. Around 1,100 students attend the traditional day and adult evening degree completion programs. Students from almost every county in the state attend Huntingdon College. Huntingdon College is consistently listed among the top best colleges in the region. They are a member of the Tree Campus USA program. The

Employment Discrimination In The Workplace - 1851 Words

A lot of people in the world have a reason as to why they wake up early in the morning and come out of the house, some sleep late at night while others have to stay online with their machines.Majority do this to earn a living from their jobs.Different jobs have different schedules and one has to keep their schedules right by doing what is expected according to their company policy.This is what one has to read and understand, later sign with the employer for the work schedule to kick off.Employers must treat all employees equally without discrimination and work towards a specific goal which is company related. This is not the case to most companies.Some companies tend to favor some employees while others discriminate and they end up†¦show more content†¦The company ended up violating American with Disability Act (ADA) which advocates protection of people with different disabilities both job seekers and employees in a company.The employers should also not enquire of any of its employees disabilities if its not work related.(U.S Department of Labor, n.d) COMPARISON WITH CLASS ACTION LAW SUIT Ideally the issue of privacy and medical records is very vital according to the law.It is there the right of every employer to respect the patients privacy as far as the work relation agenda is attained.Various employers tend to discriminate and fire employees due to lack of disclosing their medical reports yet they are not among the third party list of disclosure.It is so unlawful and therefore the employer must face allegations and compensate theShow MoreRelatedEmployment Discrimination Within The Workplace1079 Words   |  5 PagesEmployment Discrimination in Indonesia As stated on wikipedia.org, discrimination is action that denies social participation or human rights to categories of people based on prejudice. This includes treatment of an individual or group based on their actual or perceived membership in a certain group or social category, in a way that is worse than the way people are usually treated. This could be done directly or indirectly. Direct discrimination could arise from punishments and indirect discriminationRead MoreWorkplace : Employment And Pregnancy Discrimination1821 Words   |  8 Pages Women in the Workplace: Employment and Pregnancy Discrimination Shenea Abraham Barry University â€Æ' Introduction Law and society is a multi-disciplinary field of study within the broader field of legal studies. The question is what is law? There is no single definition of law. The most influential definition of law is by Max Weber which states that â€Å"laws are an order of rules that are externally guaranteed through physical (or psychological) coercion by an authorized â€Å"staff† of people whoRead MoreEmployment Discrimination Can Wear Many Faces In The Workplace.1703 Words   |  7 PagesEmployment discrimination can wear many faces in the workplace. Three common workplace discriminations are in the categories of age, weight, and sexual orientation. Only age discrimination has a specific law named after it. The law is called the Age Discrimination Act (ADA). Weight discrimination is linked with the Americans with Disabilities Act in order to be enforced. Sexual orientation (Gender identity) is linked with the Civil Rights Act of 1964. There is a new regulation called the LGBT emp loymentRead MoreThe Employment Non-Discrimination Act of 2009—Ensuring Equality in the Workplace for Gay, Lesbian, Bisexual and Transgender Workers1485 Words   |  6 Pageshave no laws on record preventing discrimination against gender identity or expression—commonly known as transgender. While these statistics may be disheartening for many gay, lesbian, bisexual, and transgender (GLBT) individuals, it is not all doom and gloom. Employment protections and rights for GLBTs have grown exponentially in the past two decades. Fortune 500 companies have helped lead the charge for securing equality for gays and lesbians in the workplace. In 2009, more than 85% of FortuneRead MoreUsefulness Of The Future Managers1213 Words   |  5 Pagesstartups may violate one or more aspects of the employment law. The book is useful in training prospective future managers and employers since the workplace discrimination scenario is a rapidly changing issue that requires a more intellectual approach. The risks of violating the discrimination rules are devastating to both the employer and organization. Knowledge is power, and the prospective managers will gain the knowledge surrounding employment discrimination and harassment and are thus informed of theRead MoreEthics of Workplace Discrimination Essay1434 Words   |  6 PagesWorkplace ethics are standards or codes that determines right and wrong moral behavior in the work environment. Discrimination is defined as â€Å"the unjust or prejudicial treatment of different categories of people or things, especially on the grounds of race, age, or sex.† (Oxford Dictionary) Workplace discrimination deals with issues such as religion, race, gender, disability, age, and sexual orientation. Covering all of these issues is beyond the scope of this paper, therefore, I will focus onRead MoreWorkplace Discrimination : Discrimination And Discrimination1205 Words   |  5 Pages Workplace Discrimination Employment discrimination manifests in a variety of forms. The most common scenario is when the employer unfairly treats job applicants and employees because of their gender, race, age, disability, nationality or familial status. Often, employment discrimination that emanates from familial status occurs because of events such as pregnancy. The employers usually take adverse and cruel actions against these employees or rather potential employees. Contextually, adverse actionRead More Americans With Disabilities Act (ADA) Essay757 Words   |  4 Pagesdisabilities (Hernandez, 2000). . The Americans With Disabilities Act (ADA) protects individuals with disabilities from discrimination based upon their disability (Bennett-Alexander, 2001). The protection extends to discrimination in a broad range of activities, including public services, public accommodations and employment. The ADAs ban against disability discrimination applies to both private and public employers in the United States. Not all individuals with disabilities are protectedRead MoreWhen People Think Of Discrimination, They Tend To Think1254 Words   |  6 Pagespeople think of discrimination, they tend to think back to older times of slavery, racism, and an underdeveloped country. Sadly, discrimination actual plays a large role in the workplace of today. Discrimination is defined as â€Å"treating a person or particular group of people differently, especially in a worse way from the way in which you treat other people, because of their skin color, sex, sexuality, etc.† according to the Cambridge Dictionary (Cambridge University Press 1). Discrimination comes in manyRead MoreThe Community Of Lgbt Workers Essay1583 Words   |  7 PagesSince the beginning of their existence and in today’s society, the community of LGBT workers are not being treated fairly or getting their fair share that they deserve in the workplace. They are victims to high rates of workplace discrimination. Instead of being judged as workers and what they bring to their jobs and how they work, they are being judged by their sexual preferences and appearance. Being a gay or transgender worker causes them to be mistreated, not judged for the actual workers they

Poor Job Design in Australia- Free-Samples - Myassignmenthelp.com

Question: Discuss abou the Poor Job Design of Australia. Answer: The essay presents a brief overview of the poor job design of Australia and it also explains the causes of dissatisfaction of Australian. It evaluates and measures the reason of poor job design. It describes how the poor job design affects the employees performance and efficiency. It tells the benefits of proper and adequate job design in an organization. It also explains the techniques and methods to improve and manage the performance of employees. It explains that how the companies enhance the morale and job satisfaction of Australian. Job design is the core task of the human resource management and it is related to the requirements of the methods, contents, and relationship of employment in order to satisfy organizational and technological requirements with personal and social requirements of the job. Job design fixes the responsibilities and duties of the job. Therefore, job design affects the behavior and attitudes of employees. Job design also provides information about the qualification needed for doing the work. If the job is designed efficiently, then highly competent managers will join the association. Job design plays a significant role in an organization to achieve the organizational goals and objectives. The efficient job design improves the profitability and productivity of the company (Cascio, 2015).The various factors affect the job designs, which are discussed below. Organizational factors: Culture, work nature, Ergonomics, workflow are the organizational factors which influence the job design. The company should focus on the organizational factors. Environmental factors: Environmental factors also affect the job design and performance of the employees. These factors include the external factors as well as internal factors of the company. Internal factors include the employee skills and abilities and external factors include the socio- cultural and economic factors (Moran, Abramson, Moran, 2014). Behavioral factors: Behavioral factors include the various elements like diversity, feedback, autonomy and skills, and abilities of employees. These factors also affect the performance of the employees. The poor job design affects the performance of Australian employees. Many Australians workers feel dissatisfied with their jobs due to poor job design. Sometimes employees get disappointed due to poor job satisfaction and they leave the job and they start to search the good opportunities in other industries. Heavy workloads and stress: Heavy workloads also reflect the quality and performance of the organization. However, if the jobs are designed badly, then it will become the reason of high employee turnover, absenteeism, conflicts and other Australians employees problems. Some other factors also influence the job design like proper scope of job, full-time challenges of the job, organizational requirement, managerial skills, organizational structure, individual likes and dislikes, technology and control system. Key reasons of poor job design and job dissatisfaction are discussed below. Underpaid: Underpaid is one of the primary reasons of Australian job dissatisfaction. Mainly, Australian companies do not pay good wages to employees therefore, employees feel dissatisfied with their jobs. Limited career growth and advancement: This also influences the performance of Australians workers and limited career growth and advancement does not provide satisfaction to employees. Poor job design affects the productivity and efficiency of Australians. Lack of interest: A lack of interest is another reason in the workplace therefore, employees feel dissatisfy and unhappy in Australia. Workers want to perform duties and responsibilities which are challenging and engaging. Sometimes companies assign monotonous and repetitive work to employees then they get boredom from such work. It also influences the efficiency of employees. Poor management: The management plays a significant role in an organization. The top management is responsible for planning, organizing, controlling of an organization and it is also responsible for motivating the workers. Due to poor management, employees do not perform duties and responsibilities effectively. It influences the productivity and performance of employees adversely. Managers with poor leadership and management skills also affect the performance of workers (Abdelhak, Grostick Hanken, 2014). Inadequate resources: In Australia, workers do not get the proper resources and facilities for doing the jobs. Thus, it becomes the main cause of job dissatisfaction of Australians employees. The pathetic working environment of the company also affects the job performance of the employees. Lack of transparency: Lack of transparency increases rumors in the organization and it also becomes the main reason of dissatisfaction of Australians workers. It also demotivates and demoralizes the employees. Perceived discrimination: Employees discrimination also influences the efficiency of employees and it is the other cause of poor job design. It also increases the conflicts and grievances among the workers (Rao, 2014). Lack of role clarity: It happens, when incompatible and mismatch roles and responsibilities are assigned to two different workers at the same time. This lack of clarity in Australians creates tension and conflicts between the workers. It also influences the performance of Australians workers. After the various researches, it has been analyzed that office gossip also affects the performance of employees. It also influences the growth of the organization and it is the reason of poor job design in the organization. Poor leadership from the top management: A manager motivates the employees for doing work but sometimes managers do not provide the motivation to employees. The aggressive and arrogant behavior of managers also affects the performance of Australian. After the various researches, it has been observed that all these causes affect the performance and efficiency of Australians so it should be controlled by the organization. The excellent job design plays a significant role in an organization. The effective job design provides information for designing the organizational framework and structure. Therefore, it helps to prepare the organizational structure of the company. It also helps in HR planning, human resource acquisition, and development. It also finds out the number of jobs available in the company. An effective job design not only determines the jobs but it also estimates the minimum skills, qualification, and experience needed to various kinds of jobs. The excellent job design also plays a vital role in human resource acquisition and selection process. It also helps to search right person at the right work in the company (Paill, Chen, Boiral Jin, 2014). Perfect job design reduces the risk of selecting the wrong employees to the job in an organization. It helps to encourage the motivation and efficiency of employees for doing the task. Thus, motivated workers commit for their best productivity, performance, and efficiency at maximum level. Proper job design also provides job satisfaction to employees and it also enhances the morale of the employees (Rothwell, Hohne King, 2012). It also ensures the success of the company. It helps to reduce the conflict and grievances of employees within the organization. The perfect job design also improves the quality of work and it also provides support to maintain a pleasant relationship between management and employees. Positive changes in job design also provide help to change the belief, faith, and attitude of employees to make them positive for the association benefits. Therefore, all these things help to improve and develop the quality of work life. Perfect job design also helps in supervisi on and management and it reduces the cost of supervision. It also helps to implement the changing environment in the organization. It provides support to the achievement of organizational goals and objectives (Knowles, Holton III Swanson, 2014). Employment should be designed in such way that job specifications and requirements should be balanced. It should not be under loaded as well as over loaded, therefore; it should maintain the balance between authorities and responsibilities. The various techniques and methods available for perfect job design in the company. Hence, some of the important methods and techniques are discussed below. Classical method/ approach: The classical method of job design is propounded by the F.W Taylor. In this theory, F. W Taylor focused on the balance of the motion, work and time at work. He designed the theory in such way that productivity and efficiency can be increased effectively. The classical theory uses three methods to perfect job design in the organization. The methods of classical approach are such as job rotation, work simplification and job enlargement (Knowles, Holton III, Swanson, 2014) Behavioral approach/ method: Efficiency and effectiveness depend on the behavior of employees towards the job. Employment should be enough to motivate the employees. The behavioral technique of job design includes some behavioral aspects of workers like task identity, variety, autonomy, feedback mechanism, and task significance. The behavioral approach includes the following method such as job enrichment, autonomous team; modify work schedule method and job characteristics method (Jackson, Schuler, Jiang, 2014). Situational theory: The Situational theory is different from the behavior and classical theories. This theory deals with situation and condition of the company. Human resource management plays an integral role to provide satisfaction to the employees. In todays world, Australian companies are facing emerging challenges in the form of attainment, maintaining, balancing and optimization of human personnel in the organization. They are responsible to solve the problems and consequences of the employees. The human resource management should collect the information about the employees related to their job satisfaction. HR managers should appoint a person who can handle the dispute and conflicts of employees at the workplace. Human resource department should provide the excellent and favorable working environment to employees for doing work. HRM maintains a link between employer and employees (Richey Klein, 2014). Therefore, it should focus on the morale and job satisfaction of employees. The HRM should maintain the good managerial relation with the employees. It will provide motivation to employees. It should provide the fair and adequate remune ration and compensation to workers to competent employees. It will enhance the working capacity of employees. Now it is assumed that HRM plays a significant role in the company success and it will also provide job satisfaction to Australians employees. An Australian company cannot survive its business without human resource management so HRM is essential in every organization. It also reduces the absenteeism, employees turnover and job stress of Australians workers. HRM maintains discipline in the organization for doing work (Finn, 2011). Human resource management uses various techniques to improve and manage the employees performance. They are discussed below. Set clear expectations: It is the important technique to improve and manage the employees performance. HR managers should continue manage and set the expectations of Australians. Train managers: Train managers provide training to new and underperforming employees. In this way, they help to improve the efficiency and performance of the employees (Ehnert, Harry Zink, 2013). Use SMART goals: SMART goals stands for specific, measurable, achievable, realistic, and time bound. Therefore, it encourages the people to achieve the goals and objectives. Give timely and frequent feedback: Feedback plays a significant role to evaluate and measure the employees performance. If the employee is doing good work then senior managers give positive feedback of the employee. If the employee is not doing work effectively then it can affect the performance of employee. So the human resource management should take timely feedback of the employees (Berman, Bowman, West, Van Wart, 2012). Focus on morale: It is the integral technique to improve and manage the performance of Australians employees. Human resource management should focus on the morale and self-esteem of Australians (Marler Parry, 2016) Human resource management can take various steps to improve the poor job design and provide job satisfaction to employees at the workplace. The various steps are discussed below. Provide a positive working environment: HR managers should provide the positive working environment to employees for providing satisfaction to employees. Therefore, it is one of the important factors to improve the poor job design. In addition, the company should provide some extra services to employees like childcare information, employee discount program, check cashing and money order. Thus, it will encourage the motivation of employees and it will also increase the productivity of the company (Card Krueger, 2015). Reward and recognition: Reward and recognition is a powerful tool to build morale and motivation of the employees. HR managers should provide the reward and recognition to competent and potential workers. In this way, the company can create a good working environment in the organization (Wright, Guest Paauwe, 2015) Develop workers skills and potential: The Company can develop the worker's skills and potential through training and development programs. Training and learning programs make employees more innovative and productive for doing work in the organization. Training and development programs play a vital role in an organization to improve the poor job design. Well trained employees are more capable to perform their task effectively. Well trained employees do not need more supervision, they can perform the task individually also. It will help to build a good relationship between management and employees (Saleem, 2015). Measure and evaluate the job satisfaction: It is the never ending process, thus the main objective of the evaluation is to analyze and measure the progress and it also improves the performance of employees. It also helps to evaluate and measure the attitudes, motivation, and morale of the employees. Encourage teamwork: HR managers should encourage team work and maintain cooperation among Australians to improve the poor job design in the organization. Teamwork is the biggest motivators to encourage the employees for doing work. In teamwork, people work together and they share their ideas and thoughts. Therefore, it provides benefits to new employees because they learn many things from their seniors (Guest, Paauwe Wright, 2012). Be transparent: Lack of transparency is the important cause of poor job design so HR managers should maintain the transparency in the organization. Transparency is one of the effective ways to encourage the employees for doing work and it builds trust among Australian employees (Kaufman, 2015) Provide adequate resources: Human resource department should provide the proper and adequate resource to the employee. In Australia, many companies do not provide the basic facilities to employees, therefore, it affects the performance of Australian. In this way, HR managers can improve the poor job design in the Australia (Rummler Brache, 2012). Communicate effectively: Communication is the important key to improve the poor job design and provide satisfaction to employees. It will improve the productivity and efficiency of employees for doing the job (Van Tiem, Moseley Dessinger, 2012). Job satisfaction of employees provides various benefits to the company as well as employees also. After the many research, it has been studied that job satisfaction improves the communication in the organization. It also improves the attitudes and values of Australians employees. Proper job design and job satisfaction also help to find out the causes of indirect productivity problems. It will improve the poor quality of work and it also improves the effectiveness of organization (Bratton Gold, 2012). Through job satisfaction of employees, the company can attain the organizational goals and objectives. Further, job satisfaction also maintains coordination and cooperation between employers and employees. Production and productivity of the association depend on the job satisfaction of employees. Performance appraisal is also an important key factor to evaluate the job performance of employees. It also enhances the morale and satisfaction level of Australians workers (Zairi, 2012). If t he employees satisfy with their jobs then they give innovative ideas and thoughts to achieve the organizational goals and objectives. There are several HR practices also play a significant role to improve the performance of Australians. The various HR practices include placement practice, compensation practice, training practice, human resource planning, motivational forces, promotion practices, performance appraisal system, compensation system and recruitment and selection practices. All these HR practices can provide the job satisfaction to employees (Banfield Kay, 2012). Now it is concluded that proper job design plays a significant role in every organization. In Australia, many employees have dissatisfied the poor quality of work and inadequate job design. Therefore, HR managers must promote the productivity and efficiency of Australians employees. HR managers play important role in the company because they maintain a link between managers and employees (Marchington, Wilkinson, Donnelly Kynighou, 2016). Human resource management implements various rules, policies, and strategies in the company. They play a major role in organizational success and progress. Thus, without human resource management, an organization cannot survive its business for a long time period. The Australian companies should make proper and adequate job design for the employees and they should provide job satisfaction to employees. A proper job design helps to improve and manage the performance of Australian employees. It also helps to achieve organizational goals and objectives . Every organization should use the effective job design policies and method. References Abdelhak, M., Grostick, S. and Hanken, M.A., 2014.Health Information-E-Book: Management of a Strategic Resource. Elsevier Health Sciences. Jackson, S.E., Schuler, R.S. and Jiang, K., 2014. An aspirational framework for strategic human resource management.Academy of Management Annals,8(1), pp.1-56. Berman, E.M., Bowman, J.S., West, J.P. and Van Wart, M.R., 2012.Human resource management in public service: Paradoxes, processes, and problems. Sage. Bratton, J. and Gold, J., 2012.Human resource management: theory and practice. Palgrave Macmillan. Card, D. and Krueger, A.B., 2015.Myth and measurement: The new economics of the minimum wage. Princeton University Press. Cascio, W.F., 2015. Strategic HRM: Too important for an insular approach.Human Resource Management,54(3), pp.423-426. Ehnert, I., Harry, W. and Zink, K.J. eds., 2013.Sustainability and human resource management: Developing sustainable business organizations. Springer Science Business Media. Knowles, M.S., Holton III, E.F. and Swanson, R.A., 2014.The adult learner: The definitive classic in adult education and human resource development. Routledge. Finn, D., 2011.Job Services Australia: design and implementation lessons for the British context. Department for Work and Pensions. Guest, D.E., Paauwe, J. and Wright, P. eds., 2012.HRM and performance: Achievements and challenges. John Wiley Sons. Kaufman, B.E., 2015. Evolution of strategic HRM as seen through two founding books: a 30th anniversary perspective on development of the field.Human Resource Management,54(3), pp.389-407. Knowles, M.S., Holton III, E.F. and Swanson, R.A., 2014.The adult learner: The definitive classic in adult education and human resource development. Routledge. Marchington, M., Wilkinson, A., Donnelly, R. and Kynighou, A., 2016.Human resource management at work. Kogan Page Publishers. Marler, J.H. and Parry, E., 2016. Human resource management, strategic involvement and e-HRM technology.The International Journal of Human Resource Management,27(19), pp.2233-2253. Moran, R.T., Abramson, N.R. and Moran, S.V., 2014.Managing cultural differences. Routledge. Paill, P., Chen, Y., Boiral, O. and Jin, J., 2014. The impact of human resource management on environmental performance: An employee-level study.Journal of Business Ethics,121(3), pp.451-466. Rao, T.V., 2014.HRD audit: Evaluating the human resource function for business improvement. SAGE Publications India. Richey, R.C. Klein, J.D., 2014.Design and development research: Methods, strategies, and issues. Routledge. Rothwell, W.J., Hohne, C.K. and King, S.B., 2012.Human performance improvement. Routledge. Rummler, G.A. and Brache, A.P., 2012.Improving performance: How to manage the white space on the organization chart. John Wiley Sons. Saleem, H., 2015. The impact of leadership styles on job satisfaction and mediating role of perceived organizational politics.Procedia-Social and Behavioral Sciences,172, pp.563-569. Van Tiem, D., Moseley, J.L. and Dessinger, J.C., 2012.Fundamentals of performance improvement: Optimizing results through people, process, and organizations. John Wiley Sons. Wright, P.M., Guest, D. and Paauwe, J., 2015. Off the Mark: Response to Kaufman's Evolution of Strategic HRM.Human Resource Management,54(3), pp.409-415. Zairi, M., 2012.Measuring performance for business results. Springer Science Business Media.

Practice Exam Essay Example

Practice Exam Essay Chapter 9 Which of the following statements is correct? | | Unfavorable cost variances always indicate bad performance. | | Favorable cost variances always indicate good performance. | | Both of the above statements are correct. | | Neither of the above statements are correct. | Managers should not assume that unfavorable cost variances always indicate bad performance and that favorable cost variances always indicate good performance. Unfavorable cost variances may result from an increase in revenues (e. g. , ingredient costs may be higher than expected because more meals were served in a restaurant than anticipated). And, favorable cost variances may result from a decrease in revenues (e. g. , ingredient costs may be lower than expected because less meals were served in a restaurant than anticipated). | A companys static budget estimate of total overhead costs was $805,000 based on the assumption that 23,000 units would be produced and sold. The company estimates that 20% of its overhead is variable and the remainder is fixed. The total overhead cost according to the flexible budget if 27,000 units were produced and sold is  (Do not round intermediate calculations. ):| | $837,000| | $805,000| | $833,000| $913,500| First, determine the budgeted variable overhead as follows. Budgeted variable overhead = Budgeted overhead cost of $805,000 ? 20% (variable portion) = $161,000 Next, determine the budgeted variable overhead per unit as follows. Budgeted variable overhead of $161,000 ? 23,000 units produced and sold = $7. 0 per unit Then, determine the budgeted fixed overhead as follows. Budgeted fixed overhead = Budgeted overhead cost of $805,000 ? 80% (fixed portion) = $644,000. Finally, the flexible budget at 27,000 units is determined as follows. Budgeted variable overhead of (27,000 units ? $7. 00 er unit variable overhead) + budgeted fixed overhead of $644,000 = $833,000| An activity variance is the difference between:| | a revenue or cost item in the static planning budget and the same item in the flexible budget. | | how much the revenue should have been, given the actual level of activity, and the actual revenue for the period. | | how much a cost should have been, given the actual level of activity, and the actual amount of the cost. | | None of these. | An activity variance is the difference between a revenue or cost item in the static planning budget and the same item in the flexible budget. We will write a custom essay sample on Practice Exam specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Practice Exam specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Practice Exam specifically for you FOR ONLY $16.38 $13.9/page Hire Writer A revenue (rather than activity) variance is the difference between how much the revenue should have been, given the actual level of activity, and the actual revenue for the period. A spending (rather than activity) variance is the difference between how much a cost should have been, given the actual level of activity, and the actual amount of the cost. | A restaurant has a cost with the following cost formula: $2,100 + $5. 7q, where q is the number of meals served. The restaurants planning budget is based on 2,100 meals. Its actual level of activity was 2,000 meals and the actual amount of the cost at that level of activity was $13,600. The activity variance for this cost is:| | $100 U| | $570 F| | $100 F| | $570 U| Activity variance = Planning budget ? Flexible budget Activity variance = ($2,100 + $5. 7 ? 2,100) ? ($2,100 + $5. 7 ? 2,000) = $14,070 ? $13,500 = $570 F| If the average selling price is greater than expected, the revenue variance is:| | labeled as unfavorable. | | labeled as favorable. | | an activity variance. | | cannot be labeled as favorable or unfavorable without obtaining an explanation. | If the average selling price is greater than expected, the revenue variance is favorable| If the actual cost incurred is greater than what the cost should have been as set forth in the flexible budget, the variance is:| | an activity variance. | | cannot be labeled as favorable or unfavorable without obtaining an explanation. | | labeled as unfavorable. | | labeled as favorable. | If the actual cost incurred is greater than what the cost should have been as set forth in the flexible budget, the variance is labeled as unfavorable. | All of the statements are correct except:| | A flexible budget performance report separates the effects of how well prices were controlled and operations were managed. | To generate a favorable variance for net operating income in a business that serves customers managers must take actions to increase client-visits. | | Flexible budget performance reports provide more useful information to managers than a simple comparison of budgeted to actual results. | | To generate a favorable overall revenue and spending variance, managers must take action s to protest selling prices. | To generate a favorable overall revenue and spending variance, managers must take actions to protect selling prices, increase operating efficiency, and reduce the prices of inputs. The five columns on a Performance Report Combining Activity Variances with Revenue and Spending Variances should be ordered as follows:| | Planning Budget, Activity Variances, Flexible Budget, Revenue and Spending Variances, and Actual Results. | | Flexible Budget, Activity Variances, Planning Budget, Revenue and Spending Variances, and Actual Results. | | Planning Budget, Revenue and Spending Variances, Flexible Budget, Activity Variances, and Actual Results. | | Actual Results, Activity Variances, Flexible Budget, Revenue and Spending Variances, and Planning Budget. The columns on a Performance Report Combining Activity Variances with Revenue and Spending Variances should be ordered as follows: Planning Budget, Activity Variances, Flexible Budget, Revenue and Spending Vari ances, and Actual Results. | All of the statements are correct except:| | more than one cost driver might be needed to adequately explain all of the costs in an organization. | | cost formulas based on more than one cost driver are more accurate than the cost formulas based on just one cost driver. | | flexible budgets can be prepared with up to two cost drivers. | when cost formulas are based on more than one cost driver, the variances will also be more accurate. | Flexible budgets can be prepared with multiple cost drivers; they are not limited to two. Consider the electricity cost included in Ricks Hairstyling example in the textbook. Some of the cost is fixed since electricity is used even at night when the salon is closed. Some of the cost depends on the number of client-visits. And the rest of the cost depends on the number of hours the salon is open. | Let q1  represents client visits and q2  represents hours of operations. The electricity cost for Blissful Spa depends on both client-visits and the hours of operations and its cost formula is $960 + $0. 65q1  + 3. 10 q2. If the actual number of client visits is 1,920 and the salon was open for 450 hours during the month, the flexible budget amount for electricity is:| | $7,205| | $8,160| | $2,979| | $3,603| Electricity cost = $960 + $0. 65q1  + $3. 10 q2 Electricity cost = $960 + ($0. 65 ? 1,920) + ($3. 10 ? 450) = $3,603| Which of the following statements is not correct? | | One of the common errors in preparing performance reports is to implicitly assume that all costs are fixed. | A flexible budget allows managers to isolate activity variances and revenue and spending variances. | | Comparing static planning budget costs to actual costs only makes sense if the cost is variable. | | One of the common errors in preparing performance reports is to implicitly assume that all costs are variable. | Comparing static planning budget costs to actual costs only makes sense if the cost is fixed. If the cost isnt fixed, it needs to be adjusted for any change in activity that occurs during the period. | Perhaps the most common errors in performance evaluation are implicitly assuming that:| all revenues and costs are fixed| | all revenues are fixed and that all costs are variable. | | all revenues and costs are fixed or assuming that they are all strictly variable. | | all revenues are variable and that all costs are fixed. | Perhaps the most common errors in performance evaluation are implicitly assuming that all revenues and costs are fixed or assuming that they are all strictly variable. | Chapter 10 Fausto Company employs a standard cost system in which direct materials inventory is carried at standard cost. The company has established the following standard for the materials costs of one unit of product:| Standard Quantity|   Standard Price| Standard Cost| 5 pounds| $   7. 30/pound| $36. 50| | During June, the company purchased 165,700 pounds of direct material at a total cost of $1,292,460. The company manufactured 28,000 units of product during June using 141,700 pounds of direct materials. The price variance for the direct materials acquired by the company during June is  (Do not round intermediate calculations. ):| | $70,850 favorable. | | $82,850 favorable. | | $82,850 unfavorable. | | $70,850 unfavorable. | First, determine the actual price per unit of materials as follows. | Total cost of $1,292,460 ? total pounds of 165,700 = $7. 80 per pound. Then, the price variance for the direct material acquired by the company is determined as follows. | Materials price variance = AQ ? (AP ? SP). | Materials price variance = 165,700 ? ($7. 80 ? $7. 30) = $82,850 (U). | 2. award: 0 out of 10. 00 points Fausto Company employs a standard cost system in which direct materials inventory is carrie d at standard cost. The company has established the following standard for the materials costs of one unit of product:| Standard Quantity| Standard Price| Standard Cost| 5 pounds| $   7. 4/pound| $37. 0| | During June, the company purchased 165,900 pounds of direct material at a total cost of $1,327,200. The company manufactured 30,000 units of product during June using 151,900 pounds of direct materials. The direct material quantity variance for June is:| | $14,060 favorable. | | $14,060 unfavorable. | | $15,200 unfavorable. | | $15,200 favorable. | First, determine the standard quantity allowed as follows. | Total units of 30,000 units ? standard quantity of 5 pounds per unit = 150,000 pounds. | Then, the direct material quantity variance is determined as follows. | Materials quantity variance = SP ? (AQ – SQ). | Materials quantity variance = $7. 40 ? (151,900 – 150,000) = $14,060 (U). | 3. award: 0 out of 10. 00 points Mochel Company employs a standard cost system in which direct materials inventory is carried at standard cost. The company has established the following standard for the direct labor costs of one unit of product:| Standard Hours| Standard Rate| Standard Cost| 1. 70 hours| $24. 00/hour| $40. 80| | The total factory wages for June were $1,100,000, 80 percent of which were for direct labor. The company manufactured 21,300 units of product during June using 35,200 direct labor hours. The direct labor rate variance for June is  (Do not round intermediate calculations. ):| | $255,200 favorable. | | $35,200 unfavorable. | | $255,200 unfavorable. | $35,200 favorable. | First, calculate the actual rate per hour of direct labor as follows. | Total factory wages of $880,000 (or $1,100,000 ? .80) ? total direct labor hours of 35,200 = $25. 00 per hour. | Then, the direct labor rate price variance is determined as follows. | Labor rate variance = AH ? (AR – SR). | Labor rate variance = 3 5,200 ? ($25. 00 – $24. 00) = $35,200 (U). | 4. award: 0 out of 10. 00 points Mochel Company employs a standard cost system in which direct materials inventory is carried at standard cost. The company has established the following standard for the direct labor costs of one unit of product:| Standard Hours| Standard Rate| Standard Cost| 2. 0 hours| 24. 3/hour| 48. 60| | The total factory wages for June were $1,160,000, 80 percent of which were for direct labor. The company manufactured 19,000 units of product during June using 37,120 direct labor hours. The direct labor efficiency variance for June is:| | $ 22,000 unfavorable. | | $ 21,384 unfavorable. | | $ 21,384 favorable. | | $ 22,000 favorable. | First, calculate the standard hours allowed as follows. | 19,000 units ? 2. 0 hours per unit = 38,000 hours. | Then, the direct labor efficiency variance is determined as follows. | Direct labor efficiency variance = SR ? AH – SH). | Direct labor efficiency variance = $24. 3 ? (37,120 – 38,000) = $21,384 (F). | 5. award: 0 out of 10. 00 points Houghton Company maintains warehouses that stock items carried by its e-retailer clients. When one of Houghtons clients receives an order from an online customer, the order is forwarded to Houghton. Houghton then pulls t he item from the warehouse, packs it and ships it to the customer. Houghton uses a predetermined variable overhead rate based on direct labor-hours. According to the companys records, . 09 direct labor-hours are required to fulfill an order for one item and the variable overhead rate is $6. 0 per direct-labor hour. During July, Houghton shipped 295,000 orders using 26,300 direct labor-hours. The company incurred a total of $168,320 in variable overhead costs. The variable overhead rate variance during July was  (Do not round intermediate calculations. ):| | $2,630 unfavorable. | | $2,630 favorable. | | $1,625 unfavorable. | | $1,625 favorable. | The variable overhead (VOH) rate variance during July is determined as follows. | VOH rate variance = AH (AR – SR). | VOH rate variance = 26,300 hours ($6. 40 per hour – $6. 50 per hour) = $2,630 (F). | 6. award: 0 out of 10. 00 points Houghton Company maintains warehouses that stock items carried by its e-retailer clients. When one of Houghtons clients receives an order from an online customer, the order is forwarded to Houghton. Houghton then pulls the item from the warehouse, packs it and ships it to the customer. Houghton uses a predetermined variable overhead rate based on direct labor-hours. According to the companys records, . 08 direct labor-hours are required to fulfill an order for one item and the variable overhead rate is $6. 70 per direct-labor hour. During July, Houghton shipped 260,000 orders using 20,600 direct labor-hours. The company incurred a total of $135,960 in variable overhead costs. The variable overhead efficiency variance during July was:| | $2,060 unfavorable. | | $2,060 favorable. | | $1,340 unfavorable. | | $1,340 favorable. | The variable overhead (VOH) efficiency variance during July is determined as follows. | VOH efficiency variance = SR (AH – SH). | VOH efficiency variance = $6. 70 per hour (20,600 hours – 20,800 hours) = $1,340 (F). | 7. award: 0 out of 10. 00 points Mirenda Company applies manufacturing overhead costs to products on the basis of direct labor-hours. The standard cost card shows that 12. 0 direct labor-hours are required per unit of product. For August, the company budgeted to work 362,000 direct labor-hours and to incur the following total manufacturing overhead costs:| |   | Total fixed overhead costs| $492,320   Ã‚  | Total variable overhead costs| 401,000   Ã‚  | | During August, the company completed 28,100 units of product, worked 345,630 dir ect labor-hours, and incurred the following total manufacturing overhead costs:| |   | Total fixed overhead costs| $473,510   Ã‚  | Total variable overhead costs| 400,000   Ã‚  | | The denominator activity in the predetermined overhead rate is 362,000 direct labor-hours. The fixed overhead budget variance for August is:| | $26,085 F. | | $26,085 U. | | $18,810 U. | | $18,810 F. | Compute the fixed overhead (FOH) budget variance as follows. | FOH budget variance = Actual fixed overhead – Budgeted fixed overhead. | FOH budget variance = $473,510 – $492,320 = $18,810 F. | Since actual fixed overhead was less than the amount budgeted for the period, the budget variance is favorable. | 8. award: 0 out of 10. 00 points Mirenda Company applies manufacturing overhead costs to products on the basis of direct labor-hours. The standard cost card shows that 12. 0 direct labor-hours are required per unit of product. For August, the company budgeted to work 372,000 direct labor-hours and to incur the following total manufacturing overhead costs:| |   | Total fixed overhead costs| $580,320   Ã‚  | Total variable overhead costs| 426,000   Ã‚  | | During August, the company completed 28,600 units of product, worked 357,500 direct labor-hours, and incurred the following total manufacturing overhead costs:| |   | Total fixed overhead costs| $561,280   Ã‚  | Total variable overhead costs| 422,000   Ã‚  | | The denominator activity in the predetermined overhead rate is 372,000 direct labor-hours. The fixed overhead volume variance for August is  (Do not round intermediate calculations. ):| | $12,605 U. | | $27,082 U. | | $4,462 F. | | $22,620 U. | First, compute the fixed overhead (FOH) rate as follows. | FOH rate = Budgeted fixed overhead costs ? budgeted direct labor hours. | FOH rate = $580,320 ? 372,000 direct labor hours = $1. 56 per direct labor hour. | Then, compute the FOH volume variance as follows. | FOH volume variance = Budgeted fixed overhead – (Standard hours allowed ? FOH rate). | FOH volume variance = $580,320 – ((28,600 units ? 12. 40) ? $1. 56) = $27,082 U. Since budgeted fixed overhead was more than the amount applied to work in process during the period, the volume variance is unfavorable. | 9. award: 0 out of 10. 00 points Assuming that there is an unfavorable price variance, the entry to record the purchase of materials on account includes a:| | debit to Work in Process, a credit to Materials Quantity Variance, and a credit to Raw Materia ls. | | debit to Raw Materials, a debit to Materials Price Variance, and a credit to Accounts Payable. | | debit to Work in Process, a debit to Materials Quantity Variance, and a credit to Raw Materials. | debit to Raw Materials, a credit to Materials Price Variance, and a credit to Accounts Payable. | Assuming that there is an unfavorable price variance, the entry to record an unfavorable material price variance upon purchase of materials on account includes a debit to Raw Materials, a debit to Materials Price Variance, and a credit to Accounts Payable. | 10. award: 0 out of 10. 00 points The entry to record an unfavorable labor efficiency and a favorable labor rate variance includes a:| | Debit to Wages Payable, a debit to Labor Rate Variance, a credit to Labor Efficiency Variance, and a credit to Work in Process. | Debit to Wages Payable, a debit to Labor Efficiency Variance, a credit to Labor Rate Variance, and a credit to Work in Process. | | Debit to Work in Process, a debit t o Labor Efficiency Variance, a credit to Labor Rate Variance, and a credit to Wages Payable. | | Debit to Work in Process, a debit to Labor Rate Variance, a credit to Labor Efficiency Variance, and a credit to Wages Payable. | The entry to record an unfavorable labor efficiency and a favorable labor rate variance includes a: debit to Work in Process, a debit to Labor Efficiency Variance, a credit to Labor Rate Variance, and a credit to Wages Payable. Chapter 11 1. award: 0 out of 10. 00 points A company reported the following results:| |   |   | Average operating assets| $| 56,000   Ã‚  | Sales|   | 290,000   Ã‚  | Contribution margin|   | 29,300   Ã‚  | Net operating income|   | 10,100   Ã‚  | | The companys ROI is  (Do not round your intermediate calculations. ):| | 52. 32%. | | 10. 10%. | | 18. 04%. | | 36. 07%. | Return on investment = (Net operating income ? Sales) ? (Sales ? Average operating assets)| Return on investment = ($10,100 ? $290,000) ? ($290,000 ? $56,000) = 3. 48% ? 5. 18 = 18. 04%| 2. award: 0 out of 10. 00 points The Midwest Division of Transformers, Inc. ecorded operating data as follows for the past year:| |   |   | Sales| $| 1,155,000   Ã‚  | Average operating assets|   | 330,000   Ã‚  | Stockholders equity|   | 262,500   Ã‚  | Net operating income|   | 84,000   Ã‚  | Residual income|   | 42,000   Ã‚  | | The divisions turnover for the past year was:| | 0. 80. | | 4. 40. | | 3. 50. | | 13. 75. | The division’s turnover for the past year is determined as follows. Turnover = Sales ? Average operating assets Turnover = $1,155,000 ? $330,000 = 3. 50| 3. award: 0 out of 10. 00 points A company reported the following results:| |   |   | Average operating assets| $| 410,000   Ã‚  Ã‚  Ã‚  | Stockholders equity| $| 360,000   Ã‚  Ã‚  Ã‚  | Sales| $| 1,340,000   Ã‚  Ã‚  Ã‚  | Net operating income| $| 85,700   Ã‚  Ã‚  Ã‚  | Minimum required rate of return|   | 17%   | | The companys residual income is:| | $16,000| | $484,300| | $274,300| | $24,500| |   |   | Average operating assets| $| 410,000   | | | | Net operating income  Ã‚  | $| 85,700   | Minimum required return (17% ? $410,000)|   |   69,700   |   Ã‚  | | | Residual income  Ã‚  Ã‚  | $| 16,000   | | | | 4. award: 0 out of 10. 00 points The Northwest Division of Huron Company recorded operating data as follows for the past year. | |   |   | Sales| $| 625,000   Ã‚  Ã‚  | Average operating assets|   | 275,000   Ã‚  Ã‚  | Stockholders equity|   | 205,000   Ã‚  Ã‚  | Net operating income|   | 65,000   Ã‚  Ã‚  | Residual income|   | 35,000   Ã‚  Ã‚  | | What was the divisions minimum required rate of return for the past year? | | 12. 91%. | | 10. 91%. | | 11. 91%. | | 9. 91%. | First, calculate the minimum required return as follow. Minimum required return = Net operating income – Residual income Minimum required return = $65,000 – $35,000 = $30,000 Then, the minimum required rate of return is determined as follows. Minimum required rate of return = Minimum required return ? Average operating assets Minimum required rate of return = $30,000 ? $275,000 = 10. 1%| 5. award: 0 out of 10. 00 points The following data are average times per order over the last month. | |   |   | Wait time to start production| 16. 0|   days| Inspection time| 1. 6|   days| Process time| 2. 9|   days| Move time| 2. 4|   days| Queue time| 8. 0|   days| | The manufacturing cycle efficiency (M CE) would be  (Do not round intermediate calculations. ):| | 30%. | | 19%. | | 81%. | | 46%. | Throughput time = Process time + Inspection time + Move time + Queue time| Throughput time = 2. 9 days + 1. 6 days + 2. 4 days + 8. 0 days = 14. 9 days| MCE = Value-added time (or process time) ? Throughput time| MCE = 2. days ? 14. 9 days = 19%| 6. award: 0 out of 10. 00 points The following data are average times per order over the last month. | |   |   | Wait time to start production| 15. 1|   days| Inspection time| . 7|   days| Process time| 3. 2|   days| Move time| 1. 5|   days| Queue time| 7. 1|   days| | The throughput time would be:| | 12. 50 days| | 20. 50 days| | 7. 10 days| | 5. 40 days| Throughput time = Process time + Inspection time + Move time + Queue time Throughput time = 3. 2 days + . 7 days + 1. 5 days + 7. 1 days = 12. 50 days| 7. award: 0 out of 10. 00 points All of the following statements are correct except:| | incentive compensation for employees, su ch as bonuses, should not be tied to balanced scorecard performance measures. | | top managers who translate strategy into performance measures that employees can understand and influence are following a balanced scorecard approach. | | financial measures such as residual income may be included in a balanced scorecard. | | operating measures such as delivery cycle time may be included in a balanced scorecard. | Incentive compensation for employees, such as bonuses, can, and probably should, be tied to balanced scorecard performance measures. 8. award: 0 out of 10. 00 points All of the following statements are correct except:| | under the balanced scorecard approach, top management translates its strategy into performance measures that employees can understand and influence. | | although ROI is widely used in evaluating performance, it should not be included in a balanced scorecard. | | Performance measures used in the balanced scorecard approach tend to fall into four groups: financ ial, customer, internal business processes, and learning and growth. | | a balanced scorecard consists of an integrated set of performance easures that are derived from and support a companys strategy. | ROI is best used as part of a balanced scorecard, which can provide concrete guidance to managers, making it more likely that their actions are consistent with the company’s strategy and reducing the likelihood that they will boost short-run performance at the expense of long-term performance. | 9. award: 0 out of 10. 00 points Division A produces a part that it sells to outside customers. Data concerning this part appear below:| |   |   | Selling price to outside customers| $| 60. 3   Ã‚  | Variable cost per unit| $| 40. 1   Ã‚  | Total fixed cost| $| 101,000  Ã‚  Ã‚  | Capacity in units|   | 20,200   Ã‚  | | Division B of the same company now purchases 5,100 units of a similar part from an outside supplier at a price of $58. 2 per unit. Division B wants to purchase these 5,100 units from Division A instead, but Division A has no idle capacity. Division A should insist on a transfer price of at least:| | $60. 3| | $58. 2| | $40. 1| | $45. 1| Transfer price ? Variable cost per unit + (Total contribution margin on lost sales / Number of units transferred)| Transfer price ? $40. 1 + ($103,020 / $5,100)| Transfer price ? $60. 3| 10. award: 0 out of 10. 0 points Division A produces a part that it sells to outside customers. Data concerning this part appear below:| |   |   | Selling price to outside customers| $| 64. 5   Ã‚  | Variable cost per unit| $| 41. 5   Ã‚  | Total fixed cost| $| 115,000  Ã‚  Ã‚  | Capacity in units|   | 23,000   Ã‚  | | Division B of the same company now purchases 6,500 units of a similar part from an outside supplier at a price of $61. 0 per unit. Division B wants to purchase these 6,500 units from Division A instead, but Division A has no idle capacity. If Division A has idle capacity, the manager of Division A should insist that the transfer price be:| at least $64. 5| | at least $41. 5| | at least $46. 5| | at least  $61. 0| Transfer price ? Variable cost per unit + (Total contribution margin on lost sales / Number of units transferred)| Transfer price ? $41. 5 + $0| Transfer price ? $41. 5| 11. award: 0 out of 10. 00 points Data for Wasatch Companys two operating departments follow:| | Budgeted Machine Hours| Peak Period Requirement|   | Operating Department #1| 15,800| 40 %   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  |   |   Ã‚  Operating Department #2| 26,200| 60 %   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  |   |   Ã‚  Total machine-hours| 42,000| 100 %   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  |   | | The Wasatch Company has a Repair Department that serves these two operating departments. The variable repair costs are budgeted at $0. 30 per machine-hour. Fixed costs are budgeted at $13,000 per year. Fixed Repair Department costs are charged to operating departments on the basis of peak period requirements. At the end of the year, the actual machine-hours worked by the operating departments were 16,600 hours for Department #1 and 25,400 hours for Department #2. The actual Repair Department costs were $13,100 variable and $13,900 fixed. The amount of variable repair cost charged to Department #1 at the end of the year should be:| | $4,980. | | $7,800. | | $7,620. | | $5,560. | 16,600 hours ? $. 30 per hour = $4,980| 12. award: 0 out of 10. 00 points Data for Wasatch Companys two operating departments follow:| | Budgeted Machine Hours| Peak Period Requirement|   | Operating Department #1| 19,800| 30 %   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  |   |   Ã‚  Operating Department #2| 32,200| 70 %   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  |   |   Ã‚  Total machine-hours| 52,000| 100 %   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  |   | | The Wasatch Company has a Repair Department that serves these two operating departments. The variable repair costs are budgeted at $0. 25 per machine-hour. Fixed costs are budgeted at $18,000 per year. Fixed Repair Department costs are charged to operating departments on the basis of peak period requirements. At the end of the year, the actual machine-hours worked by the operating departments were 20,600 hours for Department #1 and 31,400 hours for Department #2. The actual Repair Department costs were $13,500 variable and $18,900 fixed. The amount of fixed repair cost charged to Department #2 at the end of the year should be:| | $12,600. | | $5,150. | | $13,230. | | $7,850. | $18,000 ? 70% = $12,600|

Aristotle-The Politics Essays - Empiricists, Metaphysicians

Aristotle-The Politics Essays - Empiricists, Metaphysicians Aristotle-The Politics Aristotle believes that the chief ingredient for a life of happiness is virtue. Virtue is a state of the soul that disposes and prompts our actions and is meant to guide our behaviors in society and enable us to practice moderation. Aristotle believes that human happiness, which is not to be equated with the simple-minded pursuit of pleasure, stems from fulfilling human potentialities. These potentialities can be identified by rational choice, practical judgment, and recognition of the value of choosing the mean instead of extremes. The central moral problem is the human tendency to want to acquire more and to act unjustly whenever one has the power to do so. According to Aristotle happiness is the highest good and the goo life comes from the realization and perfect practice of virtue. In order to lead a life of goodness there must be a foundation of adequate health (goods of the body), adequate wealth (external goods, property), and goods of the soul (virtue, wisdom). People think that a moderate amount of virtue is enough, but set no limit to their desires of wealth and property, power, reputation, and all such things... - i.e. of external goods. (1323 a35-40) Happiness is more often found in those who are cultivated in their mind and in their character, and have only a moderate share of external goods, than among those who possess extensive external goods but are lacking in higher qualities. The good life you lead or experience is an inner sense of well being. This is the active life of virtue and this is all for the sake of the soul. We may therefore join in agreeing that the amount of happiness which falls to each individual man is equal to the amount of his goodness and his wisdom, and of the good and wise acts that he does. [1323b21] Aristotle said we must act naturally in order to be happy. He believes nature is our guide and that nothing is good which is contrary to nature. According to Aristotle there are two types of reason that, if used well, will make you happy. The first type is calculative reason. Calculative reason is practical wisdom which leads to moral virtue. Included in the Aristotelian moral virtues are temperance, courage, liberality, gentleness, and proper pride. The idea behind this kind of practical wisdom involves knowing how to allocate time - judging the right moment to switch back and forth between practical action and intellectual activity, so as to strike the right balance between means and ends. The second type of reason is speculative reason, which is used to deduce the true nature of reality. Speculative reason is also referred to as scientific reason. There are four ways Aristotle thinks it is important to use scientific reason to really know happiness. The first is thought. We are most like the gods when we use thought. Second is that the quality of the pleasures one pursues must be marvelous in purity and duration. Third is independent thought or self-sufficiency. The fourth is that the process of learning is a joy and is rewarding in and of itself. Thus reason, if exercised well, will bring happiness and well-being. Use your reason well and you will be fulfilled. (Kaplan lecture, October 2000) Another important ingredient in the pursuit of happiness is leisure. There must be adequate free time to organize ideas and grow our knowledge or speculative reason. The city or ideal polis facilitates the nature of a good life. A good life is a life of active goodness involving fortitude, temperance, justice and wisdom. Aristotle is clearly against imperialist and military cities because he believes they are unjust, however he believes fortitude is a virtue because a collective readiness to defend ones country is required (but not desirable). The ideal city should not be overly populous one so that top citizens can be properly acquainted with one another. The ideal polis maximizes the opportunity for its citizens to display goodness and afford happiness. In the ideal polis, the foundation of the ideal social structure is based on serfs and slaves. That is, it is implicit in Aristotles conception of the good life that not everyone is meant to

Bacon Roger

Bacon Roger Roger Bacon is an academic philosopher and scientist in the UK, one of the most influential teachers of the 13th century. He was born in 1214 at Irchester in Somerset State. Roger Bacon was educated at the University of Oxford and the University of Paris. After studying, he stayed in Paris and taught at the university in Paris for a while. When he returned to England around 1251, he entered the Franciscan religious order and lived in Oxford. He did active research and experimental work in the field of alchemy, optics, astronomy. Philosopher and theologian B Bacon, Roger (1214 - 1294) Roger Bacon was born in 1214 as a wealthy parent of Il Chester, Somerset State, England. He received education at Oxford University and then traveled to Paris. Bacon is familiar with arithmetic, astronomy, classics, geometry and music. After receiving the master of his art, he lectured at Aristotle. From 1247 to 1257 he studied alchemy and mathematics in detail. He does not believe the idea m ade by his generation of the same generation, and he does not like to do scientific experiments. He strongly opposed his beliefs. Some people think that they built the foundation of modern science in the 3 rd century. Bacon gave hints on making gunpowder. His experiment on the nature of light is remarkable. He observed the solar eclipse through a design that projects the image through a pinhole. During the school days, Bacon was strongly influenced by the Franciscan society and received a Franciscan Decree in 1255. The medieval British philosopher Roger Bacon insisted on the importance of so - called empirical science. In this respect, he is often considered a pioneer of modern science. Little is known about the details of Roger Bacon's lifetime and the chronology and inspiration of his major work. Bacon seems to have been born in Il Chester, Somerset State, England. He is not a big family, but he was born to a nobleman. When he was young, he studied works of ancient Greeks, mathema tics, geometry, astronomy and music. At the age of thirteen he entered Oxford University where he spent eight years. He eventually won a high degree in art.

Expanding paper (two more pages) Essay Example | Topics and Well Written Essays - 500 words

Expanding paper (two more pages) - Essay Example Like Keats, bit with more justice, he laments, in the lines of ‘To the muses’ the feeble, artificial and meager achievement of the time. His notes are neither languid, nor forced but remarkably varied and spontaneous. Even in his less perfect work, there is not only abatement of fresh enthusiasm, but, rather an overtaking of powers not yet fully equip for high flights† (1) . The criticism has been taken from ‘The Cambridge History of English Literature† Volume-XI; 1954 Edition. Unquestionably, this criticism depicts the inner song of Blake’s heart. The romanticism is a multi layered subject in the period of French Revolution, in the post industrial Europe an well as America. The mature work by the writer often lefts us baffled with its complexity. No wonder whatever is being written by the poet, on later stage of the era, evokes much more applause as well as criticism from the erudite critics across the globe. It is the marvel of his work, discov ered much after his death, makes our heart full of joy and mysticism that propels us to another paradigm.

IMC and Customer Satisfaction Assignment Example | Topics and Well Written Essays - 1250 words

IMC and Customer Satisfaction - Assignment Example However, from an in depth understanding of the different ways of marketing communication this process would be discussed in detail in this paper in the context of marketing activities of the BERVET. The process of integrated marketing communications fundamentally refers to â€Å"the strategic analysis, choice, implementation and control of all elements of marketing communications which efficiently, economically and effectively influence transactions between an organization and its existing and potential customers, consumers and clients† (Smith, Berry & Pulford, 1999). In simple words it is the way in which an organization manages and controls all its market communications. It is ensured that the messages, personality of the company and its brand positioning in the market is delivered across all the elements of the market by utilizing a single and consistent strategy (Smith, Berry & Pulford, 1999). This process is applicable to any type of company dealing with any type of produ ct or service, however, BERVET can customize each step of this process in order to fit the bill of the goods and services offered by it. Although the concept of marketing communications has been put to use in companies as an all inclusive concept to deal with the different levels of communication since the 1990s, the technique of strategically integrating these diverse functional areas is unique to the approach of integrated marketing communications (FitzGerald, 2000). BERVET should develop a single communications strategy, the basic of which should be followed for each target audience that has been identified from the entire market. This strategy has to be used â€Å"as the basis for executing each communication function† (FitzGerald, 2000) throughout the marketing process by using a wide range of channels of communication. Twelve different strategies have been identified by Smith, Berry and Pulford (1999) to accomplish the process of integrated marketing communications; suc h as, advertising, public relations, sales promotion, point of purchase, packaging, exhibition, sponsorship, internet, direct marketing, personal selling, corporate identity and word of mouth. BERVET has decided to choose advertising as the basic strategy for its integrated marketing communications. Advertising strategy of BERVET Advertising can be made through different channels. BERVET keeps pace with advancement of time and revises its advertising policies and the channels used. Television commercials, print media (newspapers and magazines), bill board signs and event sponsoring have been the most popular methods of advertising for the company since it had started business in 2000. However, recently it has also started to make its presence felt by advertising on the internet. The marketing goal of BERVET is to expand to the European continent and capture the European market. The target audience includes the governments of the different countries in the region, the private sector, the retailers and whole sellers, the individual customers. The different advertising channels have been chosen keeping in mind these different target groups. The internet is the most common form of media in both the developed countries in the region that allows the people to share ideas, communicate, and build network. Hence advertisement on the internet is particularly of immense importance for the company’

Hawthornes Personality Revealed in His Novel, The House of the Seven Gables :: House Seven Gables Essays

Hawthorne's Personality Revealed in His Novel, The House of the Seven Gables "At the moment of execution--with the halter about his neck, and while Colonel Pyncheon sat on horseback, grimly gazing at the scene--Maul had addressed him from the scaffold, and uttered a profecy, of which history, as well as fireside tradition, has preserved the very words.--'God,' said the dying man, pointing his finger with a ghastly look at the undismayed countenance of his enemy, 'God will give you blood to drink'"(12)! The House of the Seven Gables portrays many emotions throughout the novel. Writers express themselves through their literature using many different traits. They write about what they know, and who better to portray than the writer himself. The House of the Seven Gables is a perfect example of a writer portraying himself and his emotions. Nathaniel Hawthorne gives his readers an insight to his personality through the characters in this classic novel with the use of characterization, similes, and many other writing traits. Nathaniel Hawthorne was born in Salem, Massachusetts which is known as, "America's capital of hauntings, diabolical occurrences, and Puritan hellfire" (Reader's Digest). The characters of his stories are usually lonely and reclusive, and this novel is no exception. Hawthorne himself stated that, "Seven Gables was 'more characteristic of the author, and a more natural book for me to write.'" (Reader's Digest). One of the most important characters is this novel is that of Hepzibah Pyncheon. Hepzibah is an old woman with a pessimistic outlook on life. She is a very unattractive lady who scowls all that look upon her. Her pleasantness is lacking, and her loneliness is getting the best of her. Miss Hepzibah Pyncheon also believes that she is what is perceived about her which makes matters worse. She is the first character introduced into the novel, besides that of background characters. Hepzibah is introduced as waking up at about sunrise, but as Hawthorne writes, he would not consider her to be waking, but getting up from a night of poor sleep. Hepzibah's longing for someone to want to be with her can be expressed as she is described, "she had never had a lover--poor thing, how could she?--nor ever knew, by her own experience, what love technically means" (31). Expressing traits similar to how Hawthorne is perceived, he writes mainly through Hepzibah. While most writers were pessimistic in the nineteenth century, Hawthorne is no exception.

Business Proposal for a Tutoring Agency Essay

Executive Summary The proposal is for a tutoring company based in the East London area in the UK. This is going to be a partnership that will be forged among 3 partners: Shirin Akhter, Meer Hossain and Faisal Ifitkhar. The business will be financed by the partners themselves, with the profits distributed proportionately after costs are considered. The Private tutoring industry in the UK is now experiencing a steady growth, with people paying a considerable amount of money per hour to secure the services of an academically qualified tutor. However, this company is focused more on creating a market for people that cannot afford to pay  £70 to  £100 for a private tutor. All 3 of the partners had some experience in being both students to private tutors and private tutors themselves, and therefore have collaborated to utilise the combined skills to enter the market of Private Tutoring. The first step of this venture is to come up with a business plan. The plan will act a document that will assist in the development of the partnership. As there is very minimal cost consideration involved in this project, the partners are not seeking any financing from any other investors. The Market Based on various news reports, personal research conducted on parents residing in the East London area and considering the experience and capability of the partners (who will be the tutors as well), the company has found out the ideal target market. The target market has 3 separate segments: Students preparing for the Entrance Exam, 13+ and GCSE students. The initial base of students will comprise of children of various parents the tutors have a personal connection with. The cultural similarity (the tutors and potential parents are of Bangladeshi ethnicity) is therefore the pivotal factor in this regard. However, the company wishes to become one of the largest tutoring agencies in East London. Therefore it plans to tutor children from other cultural backgrounds gradually. The Services The services provided to the target will comprise of one to one tutoring, group tutoring, GCSE exam preparation and online services (social media). The company would ideally promote groups sessions as it is cost effective for both tutors and the students. Although private sessions can be deemed as being focused and intensive, group session make room for healthy debate and discussion, thus enhancing the learning procedure. The process of teaching would be based on personal skills coupled with feedback from other partners and feedback from the students. The focus of the services is not of immediate satisfaction of queries, but of better understanding of the concepts related to tutoring. The subjects in which the company offers private tutoring include Business Studies, Accounting, Physics, Chemistry, Science and Mathematics, and verbal and Non-verbal Reasoning. Promotion and advertising The initial base of students that have been proposed here are not at par with the rich families, therefore the USP of the proposed company is that it will provide tutoring service to students for a reasonable price. It has been noticed that the average price range for tutors in East London is  £15 to  £20 per hour, therefore the company will provide the sessions 1 and half hour long for the same money. It can therefore establish itself as a company that is affordable. The partnership wishes to use the most effective advertising for the minimal cost as well. Therefore it would use Word of Mouth as its main promotional tool. Satisfied students and their parents are therefore the most important component in their promotional mix. The company will also make use of Social Media for promoting the company, as well as to use the online platform for feedback from the students and to assist the students online when needed. The company would also have some sales promotion in the form of introductory price offer, such as getting 5 sessions for the price of 4. However, the details of such sessions are yet to be discussed. Management The management of the company would comprise of all 3 partners, however, as per the legal requirement of UK, Meer Hossain will act as the nominated / general partner for the company. However the need for the partners to act as managers will only arise after it has grown considerably. The managers are therefore the employees of the company. All 3 partners are Graduate and professionals who also had experience as private tutors. The partners also have experience in working as supervisors / managers in their own professional area. They have become more and more culturally tolerant and astute, as they have been working in a multicultural country for more than a few years. The management will act as trainers when the company is going to start employing other tutors for the company. Future plans The company plans to extend it services to include Undergraduate students as their customers. The company also has plans to set up a website, as well as start the option of video conferencing in the future. 1. Description of the Business 1.1. Mission The company would approach teaching in an innovative and unique way with the idea of helping creating a bridge between students and the subject they need to have a good grasp on. The customised and focused process of teaching would equip the students with the necessary tools needed for improving their understanding and thus achieving success in their studies. The company is valued by the mental satisfaction and the observable outcomes of the students. The success of the company rests on the success of the students. 1.2. The key factors 1. Creating effective and innovative methods of approaching individual subjects and the sections within them for the easiest possible understanding of the challenging subject matters. 2. Increasing market presence via word of mouth promotion achieved through the excellence in service and knowledge distribution. 3. Creating a constant feedback process whereby the needs of the individuals are assessed and the processes tailored as a result. 1.3. Goals 1. To be the market leader in tutoring service in East London, specifically in the London Borough of Tower Hamlets by the end of year 4. 2. To double the revenue of the company by the end of Year 2. 3. To extend the tutoring service to Undergraduate students by the end of Year 2. 4. To establish a strong online presence via interactive web learning process by the end of year 2. 1.4. Scope of the business According to Smith (2012), a micro-business is defined by the involvement of 1 to 4 people, and a small business has 5 to 20 people in the enterprise [Smith, H. (2012): Learn Small Business Startup in 7 Days, Wiley, Milton, QLD, AUS, p 2]. The proposed Tuition agency can be therefore defined as a micro-business as the number of people in the core business would be 3, at least at the outset. As far as the goals and objectives are concerned, the business aims to be slightly bigger that a small business as far as the aforementioned definition is concerned. 1.5. The company The proposed company would provide tutoring services in few selected subjects for students ranging from 11+ to the GCSE qualification, focusing mainly in the East End of London, UK. The courses the company aims to provide tutoring support includes Mathematics, Physics, Chemistry, Business Studies and Accounting. The company would also provide tutoring supports for students interested in other subjects, but would act as a contact point would primarily outsource such tasks, acting as an intermediary in the process. The tutoring sessions would focus on assisting students grasping seemingly difficult concepts in the aforementioned areas of study. The process taught would help them perform better in their respective schools and / or educational institutes. It would also help them create a strategy for any forthcoming exams. The service would also assist them in understanding the effective method of writing various essays relating to the subject(s). The company aspires to prepare student in a manner where they would empowered to solve various problems on their own, rather than approaching individual tasks on a short term basis. 1.6. The owners The proposed company would be owned by 3 people: Shirin Akhter, Meer Hossain and Faisal Iftikhar. The company would therefore be a partnership. The ownership is expected to remain unchanged, but extenuating circumstances might bring change to the ownership structure. 1.7. Legal and regulatory frame of the company Based on the classification as stipulated by UK, the owners will form a limited partnership [Limited Partnership – GPO2, http://www.companieshouse.gov.uk/about/gbhtml/gpo2.shtml, accessed 10 August 2013]. Therefore the owners or partners of this company will be liable for all debts and obligations, however, the scope of such debts and obligations will not be more than the individual investments towards the company. As mentioned in the proposal, the company would be registered as a partnership. According to the present definitions set out by the Department of Work and Pensions, the owners (partners) of the company would therefore be classified as self-employed. The company would not itself pay any taxes; rather taxes would only apply on the individual revenues of the partners in the business [Set up a business partnership, https://www.gov.uk/set-up-business-partnership, accessed 10 August 2013]. Some of the terms of the agreement will include the following: 1. The profit of the business will be proportionate to the initial capital invested by the individuals entering into the agreement. 2. Meer Hossain has agreed to be the nominated partner as per the requirement of the the UK government for a partnership at the outset. Therefore the company will treat Meer Hossain as the only limited partner / general partner at the outset. Any amendments would be discussed upon and the changes would be done accordingly. 3. The partners will also act as the employees of the company, and they would receive salary as employees of the company according to the service they provide, based on the rates fixed. 1.7.1. DBS Checks The Disclosure and Barring Service (DBS) has recently replaced the CRB checks in the UK. Although this is not a requirement for private tutors in terms of their business [Fagg, H. (January 19th, 2013): New Disclosure and Barring Service (DBS): What it means for private tutors, http://www.thetutorblog.com/tag/crb/, accessed 10 August 2013], because the target market for this business involves working with children, the partners, as employees, would apply for a DBS check on themselves with Disclosure Scotland, a branch of DBS that allows for self employed tutors residing in England, Scotland and Wales to be checked. It is considered to be an essential part of the company [Guide: Disclosure and Barring Service (DBS) checks (previously CRB checks), https://www.gov.uk/disclosure-barring-service-check, accessed 10 August 2013]. 2. Business opportunities An investigation into a possible business always begins by analysis various opportunities. Therefore all the sources relating to an opportunity should be studied and analysed, and the process should also be done on a systematic and regular basis [Murthy, C.S.V. (2010): Small Scale Industries and Entrepreneurial Development, Global Media, (Mumbai, IND), p 43]. The tutoring service is not something novel in idea; however, the aim of the company is to provide the service at a reasonable cost. According to Lesonsky (2001), it is not necessary (for most start-up companies) to come up with a new and unique idea. A new business can venture into an existing industry, planning on how it can improve on the existing practices and how it can differ from its competition [Lesonsky, R. (2001): Start Your Own Business: The Only Start-Up Book You’ll Ever Need, Entrepreneur Press, Irvine, CA, USA, p 24]. The partners in this regard have agreed on an opportunity that they feel they can make the most use of by becoming the affordable solution to tutoring needs. 2.1. The driving forces 2.1.1. Experience As Amar Bhide looked into the private ventures in America, he discovered that new ventures in the country were usually problems that the founders of such companies faced themselves and were looking at solving those problems. 71% of these â€Å"domain experts† were actually people who approached an existing problem differently in their area of business, whilst 20% used their serendipitous ideas in their new business ventures [Price, R. W. (2004): Roadmap to Entrepreneurial Success: Powerful Strategies for Building a High-Profit Business, AMACOM Books, Saranac Lake, NY, USA, p 73]. The 3 tutors have all come from Bangladesh, where they already had experience of being taught by a private tutor and being a tutor themselves. They have all felt that for some of the ‘trickier’ subjects, such as higher mathematics (Binominal Equations, Matrices, Calculus, Statics and Dynamics etc.), Physics and Quantum Physics, Organic Chemistry and various other subjects required that the students have a special understanding outside the realms of a classroom environment. However it was not really a business plan until recently, when they realised that there is a growing demand for such personal tutoring in the UK as well. As mentioned by Pinson and Jinnett (2006), an entrepreneur can look into his or her interests and volunteer experience for an idea of a business. They also added that capability is important in regards of a new business, and any specialised skills that can complement [Pinson, L. and Jinnett, J. (2006): Steps to Small Business Start-Up: Everything You Need to Know to Turn Your Idea Into a Successful Business, Dearborn Trade, A Kaplan Professional Company, Chicago, IL, USA, p 2-3]. The partners realised that their experience in being both students and private tutors can come in handy for the new business setup. Therefore they agreed to come up with this new business venture. 2.1.2. A rising market The market of private tutoring is now experiencing a surprising growth in the UK. According to a recent news report by the BBC [Burns, J. (2 August 2013): Private tutors boost grammar chances, suggests survey, http://www.bbc.co.uk/news/education-23547666, accessed 7th of August, 2013], A pilot study found out that many parents in the UK nowadays rely on the service of private tutors to increase the chance of their children of securing a place in a grammar school. As the poll suggests, around 72% of the 212 first year grammar school students surveyed had undergone private tutoring for entrance exams during their final years in primary schools. Of this 72%, 5% received private tutoring as part of a small group, whilst 67% of the grammar school students subscribed to a one-to-one form of private tutoring. Around 78% of these students believed that private tutoring was helpful for them in the enhancement of their performance in the entrance exam. Prof Judy Ireson mentioned that some of the parents perceive that this process of private tutoring is rational as it can help their children to â€Å"perform well in the entrance exams for schools of their choice† [Burns, J. (2 August 2013): Private tutors boost grammar chances, suggests survey, http://www.bbc.co.uk/news/education-23547666, accessed 7th of August, 2013]. In a news report in 2009, Guardian stated that 45% of students based in London has had a private tutor. The percentage is now increasing, and according to TES, around 25% of all students between 11-18 years of age have all received some form of private tutoring, specifically in mathematics [Dyer, A. (24 July 2013): Private Tuition Is on the Rise, Should the Industry Be Regulated? HUFFPOST STUDENTS United Kingdom, http://www.huffingtonpost.co.uk/alex-dyer/private-tuition-regulation_b_3643876.html, accessed 8th August 2013]. 2.1.3. Better return on investment possibility Private tutoring is pretty common in more affluent households. There are few London based tutoring firms that hire graduates from Oxford and Cambridge, who sometimes charge a hefty amount of  £70 –  £100 for a one hour session, just for the preparation of entrance exams. There are also reports that suggest that parents on average incomes are also subscribing to the service of private tutors, as mentioned by the private tutoring chain Explore Learning [Aug 17th 2013: Private tuition Premium economy, The Economist (British Edition), http://www.economist.com/news/britain/21583707-private-education-becoming-more-egalitarian-premium-economy, accessed 20th of August, 2013]. 2.2. Potential Customer The tutors for the company are all qualified as graduates. However, given the scenario as depicted in the news reports above, the tutors have decided not to teach, as of now, any higher than GCSE level. The target market in this regard can be broadly classified into 3 segments: Pre-Entrance students: Students who want to prepare for entrance for a grammar school of their choice fall into this category. The subjects that would be taught in this regard include Mathematics, Verbal Reasoning and Non-verbal reasoning. English has been excluded due to the non-native status of the tutors. 13+ students: Students in this target student can receive tutoring in Science, Mathematics and Verbal and Non-verbal Reasoning. GCSE students: for the GCSE students, the subjects that will be covered will include Business Studies and Accounting, Science, Chemistry, Physics and Mathematics. 2.3. Competition Tutors are generally people who have specific expertise and little extra time. A significant amount of competitors are mainly one-to-one private tutors that advertise on various online websites, such as Gumtree [http://www.gumtree.com/other-tuition-lesson-services/london/private+tutor, accessed 09 August, 2013]. With the growing number of tutoring agencies with a physical establishment and a strong online presence, the competition in the private tutoring market is varied and intense. According to a directory website of East London, the average rate per hour as charged ranges from  £15 to  £20 per hour [http://www.hometutorsdirectory.co.uk/EastLondonTutors.html, accessed 09 August, 2013]. 3. Marketing plan and Strategy The difference between a rapidly growing company and a slowly growing or declining company operating in the same target market is in the effective marketing of the former. As an example, companies such as Coca-Cola, Frito-Lay and Gillette have all succeeded in their respective market because of the fact that they were able to market better than their competitors. Therefore to grow a business, it is essential to become an effective marketer, promoter and advertiser as well [Henricks, M. (2001): Grow Your Business, Entrepreneur Press, Irvine, CA, USA, p 152]. The marketing plan in this regard includes the construction of a successful strategy for the target. Burk and Lehman (2004) define strategy as a plan of action that has been designed purposely towards a goal or a set of goals. The components of a good strategy should include an assessment of the state of the business at the time of formulating the strategy, identification of the goals to be achieved, and the processes adopted to reach the goal and to consider the problems in the process [Burk, J. and Lehman, R. (2004): Financing Your Small Business, Sphinx Publishing, an Imprint of Sourcebooks, Inc., Naperville, IL, USA, p 21]. 3.1. Initial essentials This is a start-up business; therefore an analysis of present performance of the business cannot be done. There are however a few essentials that has been agreed upon before the business can be started. These essentials include: 3.1.1. DBS checks The DBS checks of the 3 person involved will be done via Disclosure Scotland, and will cost  £25 for each person involved [Disclosure Scotland: Apply online for Basic Disclosure: Cost, http://www.disclosurescotland.co.uk/apply-online/#cost, accessed 10 August 2013]. 3.1.2. Registration and licensing The Company name would be registered and would aim for a certified certificate by filling up an IN01 form and that would cost  £20 [http://www.companieshouse.gov.uk/infoAndGuide/faq/registerNewComp.shtml, Accessed 19 August, 2013]. The company would also apply for a limited partnership by filling up an LP5 form [LP5 form, LIMITED PARTNERSHIPS ACT 1907: Application for Registration of a Limited Partnership (In accordance with section 8 of the Limited Partnerships Act 1907), http://www.companieshouse.gov.uk/forms/generalForms/LP5_Application_for_Registration_of_a_Limited_Partnership_and_Statement_of_particulars_and_of_the.pdf], and the cost in this regard is also  £20. 3.1.3. Company Address For the time being, the company will be registered against the residential address of Meer Hossain as the nominated / general partner of the firm. 3.2. Objectives of the Business The goals of the business have already been discussed in the short description of the business. However, in this section, the goals would be further broken down in what is known as SMART objectives. SMART is an acronym that is commonly used for determining objectives of a business. SMART objectives are objectives that are â€Å"Specific, Measurable, Achievable, Realistic and Timebound,† or SMART [Martin, V. (2006): Managing Projects in Human Resources, Training and Development, Kogan Page Ltd., London, GBR, p 11]. Based on the goals of the organisation, the objectives set for the company therefore are as follows: 1. To have an overall average revenue of  £5,000 per month at the end of 1st year. 2. To increase the revenue to  £10,000 at the end of year 2. 3. To employ at least 2 local (UK academic qualification) graduate students before the end of year 2. 4. To create an interactive website at the end of year 2 for potential and existing customers. The objectives here specified are mostly related to the expected future performance of the business. 3.3. The Unique Selling Proposition (USP) It is important for a company to come up with a USP for its products or services to stand out from the competition. USP has been defined by Rosse Reeves (1961) as a proposition that communicates to the customers about a unique benefit that can be acquired from a product or service and the benefit needs to have enough power to account for considerable revenue [Reeves, R. (1961): Reality in Advertising, Knopf, New York, NY, USA]. USP was considered to be advertising imperative for any brand building exercise. This company will promote tutoring at a reasonable cost. The USP of this company is therefore affordable education for aspiring students. It is evident that although the target customers are students, the USP will be aimed at parents who would pay for the service and therefore would see the benefit in this process 3.4. Pricing After looking at various figures in the market, the pricing that has been set for various students are as follows: For Entrance Exam preparation:  £15 per session of 1 and half hour. For 13+ tutoring:  £15 per session of 1 and half hour. For GCSE preparation:  £20 per session of 1 and half hour. The pricing has been agreed upon based on the market in East London, and the quoted price above offers more for the money as spent in the existing market of Private tutoring. 3.5. Promotion and Advertising The company would be promoted via 2 major media: The internet and word of mouth. The former can also be termed as Social Media Marketing, and will rely mainly on a Facebook page. There would also be Sales promotion, therefore inserting a bit of incentive for the beginners and encouraging bulk purchase for the company. 3.5.1. Word of Mouth As it has been mentioned before, the partners of the company has each conducted (unstructured) data collection in areas in the Tower Hamlets Borough in an attempt to assess the need of a tutoring service. These surveys were conducted among people that they personally knew. This is where the word of mouth process comes in. Word of mouth is considered to be the most effective method in making the process of decision easier and also in accelerating the decision process of potential customers [Silverman, G. (2001): Secrets of Word-of-Mouth Marketing: How to Trigger Exponential Sales Through Runaway Word of Mouth, AMACOM Books, New York, NY, USA, p 21]. Word of mouth advertising is done by satisfied customers, friends and normally close relatives, but satisfied customers are the most desired in the mix. Each of the partners started private tutoring in the process of helping out a friend or a family member, and that would also be the starting point for this company. The partners would start by tutoring children of the parents they have conducted a survey on, and that would ensure that the process of word of mouth gets started. They would ask these parents to refer them to others, as well as refer any struggling student to them. 3.5.2. Sales Promotion Sales promotion will also be adopted by the company, whereby the target customers would be given an incentive outside the scope of advertising [Hundekar, S.G., Appannaiah, H.R. and Reddy, P.N. (2010): Principles of Marketing, Global Media, Mumbai, IND, p 103]. In this case, the potential customers will be offered to take advantage of bulk purchases, therefore they can buy 5 sessions for the price of 4. The sales promotion would also inspire customers to create a small group of students at their homes for studying, thus reducing the cost per head in the process.. 3.5.3. Social media marketing In this day and age of Facebook, Twitter, Buzzfeed, LinkedIn and various other social media networks, it has become easier to setup a platform that is virtually free and tremendously interactive. The act of posting and creating various contents online creates a ‘circle’ of like minded individuals that interact with each other [Agresta, S., Bough, B. B. and Miletsky, J. I. (2010): Perspectives on Social Media Marketing, Course Technology / Cengage Learning, Boston, MA, USA, p 2, p 36]. Social media have now become an important sector on its own right is considered vital for influencing behaviour of consumers [Assenov, I. (2012): Social Media Marketing and the Hospitality Industry: Evidence from Thailand. 6-7 Sept]. The participants in social media interaction becomes part of the cycle of social feedback, as demonstrated in the figure below. The Cycle also illustrates how social media can influence a market [Evans, D (2010): Social Media Marketing: The Next Generation of Business Engagement, Sybex, Hoboken, NJ, USA]. [pic] Figure 1: Social Feedback Cycle (Source: Evans. D, 2010) Amongst the existing set of Social Media Network, Facebook is considered to have the highest reach. As of 2011, Facebook had more than 500 million users worldwide [Weintraub, M. (2011): Killer Facebook Ads: Master Cutting-Edge Facebook Advertising Techniques (2nd Edition), Sybex, Hoboken, NJ, USA, p 2]. The number of Facebook users is ever increasing. Facebook also has the capability to be personal and professional. It can be used to promote a venture as well as to connect with close ones and friends [Adler, L. and Sillars, R. (2010): Linked Photographers’ Guide to Online Marketing and Social Media, Course Technology / Cengage Learning, Boston, MA, USA]. The partners have decided to open up a Facebook page under the name of the company. The page would act not only as a promotional tool, but it would also act as a platform for feedback from existing students, as they will be able to post various of their queries on a session they have already undergone. The page would also include useful links, videos and study materials relating to the sessions. 4. Operations and Processes 4.1. Background of the owners / employees 1. Shirin Akhter: She is currently doing her MBA with a reputed institute in the UK. He is from a Bangladeshi descent, and has been an experienced private tutor for some time in Bangladesh. Her areas of expertise include Business Studies, Mathematics and Chemistry. 2. Meer Hossain: An ex-engineer in the marine industry, Mr. Meer Hossain has in depth academic knowledge of Applied Physics and Electronics. Like his partner, He also was a house tutor in Bangladesh for a considerable period of time before he moved out to Russia, eventually coming to the UK. He works as a trainer in a retail setting, and therefore is also adept in communicating in the most culturally relevant manner. His are of expertise include Physics, Mathematics and Chemistry. 3. Faisal Iftikhar: Alumni of one of the top business schools in Asia, Faisal Ifitkhar is currently working in the retail industry as a trainer and a customer service assistant. He is adept in creative writing, and recent interests into Physics have increased his understanding of the subject. He has the experience of teaching in a classroom environment as well as a one to one private tutor. His Area of Expertise include Mathematics, Business Studies and Accounting. All of these individuals have one thing in common: they are all good at assessing the needs of the individual and customise their process of teaching accordingly. The partners have also decided to hold weekly meetings that would discuss the problem areas of their own students and work out the best solutions, so that the individual is catered for in a more effective process. 4.2. Personnel plan The company plan to improve their capability and try to reach the undergraduate market by the end of Year 2. It also plans to employ more tutors at the beginning of Year 2. However, the requirement of extra tutors depends on the capacity and the willingness of the existing teachers. There would be a training plan devised for any prospective teacher who is being hired. The training plan would involve the following few processes: 1. Training on the Job: The trainer that has been recruited will be asked to accompany the existing tutors and learn how tutoring is done. This would give them a practical sense of what is involved in the process of teaching. 2. Personal assessment on the skills: Although a tutor will be hired based on a respectable academic record, they would still need to be assessed by the company, and trained if necessary on areas where there is room for improvement. 3. Feedback and group communication: The new tutor will be included in the weekly meetings that discuss specific problems relating to specific students. The discussion would not only assist in learning various ‘tricks of the trade’, but the employee will be able to put in his or her feedback and thus add value to the company. 4.3. Dealing with the start up Martin and Crisp (1992) have described that the initial few months of a business are usually the most expensive ones, and a successful business must have enough to keep it going for several months [Martin, C. L. And Crisp, M. G. (Editor) (1992): Starting Your New Business: A Guide for Entrepreneurs, Course Technology / Cengage Learning, Menlo Park, CA, USA, p 12]. This has been considered by the partners. They have all decided that would continue to work in their present workplace, but with reduced hours, and therefore any additional cost relating to the company would be reimbursed by the partners of the company. The input in this regard would count as investment, and therefore the profit would be shared accordingly, at the end of they 1st year, in proportionate to individual investment. 4.4. The process of value creation More and more companies are now becoming socially responsible. It is not enough that a company is profitable, but it is important that a company adds value to the society. Social Entrepreneurs are therefore considered to be the new wave of entrepreneurs. In terms of creating value, the distinction can be made between those who are social entrepreneurs and those who are commercial entrepreneurs. According to Volkmann, Tokarski and Ernst (2012), Commercial entrepreneurs are more focused on value appropriation, whilst the social entrepreneurs are focused on value creation [Volkmann, C. K., Tokarski, K. O. and Ernst, K. (2012): Social Entrepreneurship and Social Business: An Introduction and Discussion with Case Studies, Springer Gabler, p 106]. The company in this regard can be termed as a mixture of both. The obvious value is that of a commercial nature, the business is going to be involved in a profit oriented service industry. However, due to the nature of the service provided, it can be said that the company will also add value as it becomes part of the educational system in the country. 4.5. Diversity management The company aims at tutoring students who are based in the East London Area. East London has a lot of Bangladeshi people, which is therefore culturally and linguistically easier for the owners to relate to. Keeping that in mind, the company is to consider that fact that to be the top of all tutoring agencies, it would need to be able to deal with a diverse group of students coming from a diverse group of ethnicity. Therefore a certain level of Cultural Intelligence or CQ is expected from the tutors. According to Ang & Dyne (2008), CQ or cultural intelligence is the capability of a person to function in various cultural settings [Ang, S. and Van Dyne, L. (Editor) (2008): Handbook of Cultural Intelligence: Theory, Measurement, and Applications, M.E. Sharpe, Inc., Armonk, NY, USA]. The partners, working and living in UK for a considerable period of time, has exhibited CQ towards their co-workers, managers and employees. That learning will be incorporated as the company starts to serve in different cultural settings. The hiring process as explained would also consider in these facts, and preference would be given to someone from a different cultural background than that of the owners. 4.6. Services offered The target market has been identified and classified in preceding sections of this proposal. In this section the services are classified and explained in terms of what kind of tutoring services can be provided among the target consumers. 4.6.1. One to one tuition One to one tuition would obviously be the most common one in this regard. The teacher will travel to the student’s residence and teach him or her on an individual basis. 4.6.2. Group session Not only is group session more cost effective, it is also more effective in terms of learning. A group session enables the students to interact and communicate with each other and thus creates a better understanding of the subject matter. Group sessions would therefore be especially encouraged for the students. 4.6.3. GCSE revision courses As the GCSE exams approach the students, this service would enable the students to get help with the following: †¢ Preparing for the exam †¢ Learning various exam techniques †¢ Guidance for coursework This would also include appraisal services for dissertation and for coursework. 4.6.4. Online services Based mainly on social media feedback, this service would actually use the online platform for feedback and queries from the students and deal with the queries promptly. 4.7. Future operations These services will be part of the start up business, and the company has plans to add more services as the company improves. By the end of year2, the company plans to serve Undergraduate students, and has plans to include distance learning, whereby the internet will be used for group session via video conferencing. 5. Technological consideration There is no denying the impact internet has on the present business scenario. It is considered as one of the â€Å"greatest disruptive technology to hit the world since electricity.† GE chairman Jack F. Welch (1999) said that the internet â€Å"was the single most important event in the U.S. economy since the Industrial Revolution† [Price, R. W. (2004): Roadmap to Entrepreneurial Success: Powerful Strategies for Building a High-Profit Business, AMACOM Books, Saranac Lake, NY, USA, p 45]. The technological consideration in this regard is mainly the maximum usage of the internet, especially via Facebook. A Facebook Page will be created for the students and the parents. The Facebook page will include the following: 1. Discussion (Generated by the App ‘Forums’): It is important that students discuss various problems they face with specific subject areas. 2. Videos: various useful hints and tips would be uploaded from the tutors, discussing very specific methods and processes of overcoming various problems regarding subjects. 3. Photos: Photos will include the success of various students who have subscribed to the service of the company, as well as various other related photos, and, true to the internet generation, various ‘Meme’s will also be uploaded to maintain a lighter side of studying. 4. Docs: this is more appropriate for a group rather than a page. The docs section will include various useful hints and tips, shortcuts, and various other methods and processes that are categorised in a coherent order for existing sets of students. However, a Page on Facebook is more public, whereas the privacy of a group can be controlled. Therefore most of the materials will become part of a Facebook group, enabling fee paying students to get the most out of social media. 5.1 Future online plans 5.1.1. Website Many renowned Tutor services, as well as companies, have their own websites. Although there is a cost consideration in a website, the flexibility that can be offered on a website would outweigh the comparatively minimal cost. The website would mainly have the option to pay / register online, therefore making it easier on future customers. 5.1.2. Distance learning via video conferencing There are numerous softwares, apps and programmes that allow for video conferencing for virtually no cost. The only cost consideration in this regard therefore is the initial setup, which would buying a business internet connection for the company, a physical facility to set the computers, and of course, computers that will be used for video conferencing. Video conferencing would thus increase the reach and decrease the cost of travelling. 5.2 Communication To ensure cost minimisation, the partners will make use of their existing mobile phones for various forms of communication. However, there are plans to subscribe pay-as-you-go phone services to deal with future communication, if frequency of calls increase, and also if the cost becomes more than the number of calls the partners can afford. The company expects to include pay-as-you-go phones in the 2nd half of the year. 6. Financial Consideration There is little start-up cost involved in the business. Investment would come mainly from the partners themselves. However, there are future cost and investment considerations in this business that have been mentioned, however, the estimation is based on the projection of increase in business. 6.1. Estimated initial / fixed costs The total cost for the start-up is  £115 in total. There are also costs of travelling, which comes at  £96.80 per month for each tutor (based on a zone 2-4 rate in a travel card). The travelling cost might increase if the target audience lives in zone 1 (which includes Aldgate and Liverpool Street) or is outside zone 4 in East London. These costs will be accounted and paid for from the revenue of the individual tutors. The tutors in this regard might come up with a travel allowance to adjust for the salary of the employee. Adjusting the total cost of travelling to 3,500 for the year (rounded from  £3484.80 annually for the company based on zone 2-4 travelling only), the total cost comes as follows: [pic] Figure 2: Estimated (fixed) Cost for Year 1 |Total Cost for Year 1 | |Travel cost |3,500 | |Start up cost |115 | |Total Cost |3,615 | 6.2. Other Costs There are other costs that might occur, which can be termed as variable costs, though not in its strictest terms of production cost per unit. As far as the plans are concerned, if the company needs to buy pay-as-you-go connections, internet connection, a facility and a video conference setup, additional costs will occur. As an example, if the company is able to rent a space in East London for the aforementioned purposes, the cost would be as follows: Rent / month:  £1,000 –  £2,000 (depending on the facility and the area) Internet payment / month:  £16 (BT Business Broadband) [Latest Bt Business Deals: http://www.uswitch.com/broadband/providers/bt_business/?bb=1&gclid=CJ2ZrMW3m7kCFZPItAodcAIAPQ#content, accessed 19 August 2013] 3 pay-as-you-go phones:  £20 x 3 =  £60 per month (O2 pay and go-go-go service) [O2 Pay and Go Go Go: https://www.o2.co.uk/freesim/, accessed 19 August 2013] 3 laptops (with webcams and microphones): Average market price  £320*3 =  £960 [http://www.currys.co.uk/gbuk/computing/laptops-315-c.html, accessed 19 August 2013]. 6.3. Expected Revenue In terms of the projection of the revenue expected in the future, the company has gone for a conservative approach. The demand for tutors only from private contacts is deemed enough to reach a monthly target of  £5,000. Therefore it does not account for any new students that will be make use of the service in the future. However, the 2nd year projection can be termed as optimistic, as the assumption is that the business will actually grow and will be able to generate double the revenue. The revenues, as expected from the operations, are as follows: [pic] Figure: Expected Revenue for Years 1 and 2 | |Average income / month | | |Year 1 |Year 2 | |Entrance students |2500 |3,500 | |13+ |1500 |3,500 | |GCSE |1000 |3,000 | References 1. Smith, H. (2012): Learn Small Business Startup in 7 Days, Wiley, Milton, QLD, AUS, p 2 2. Murthy, C.S.V. (2010): Small Scale Industries and Entrepreneurial Development, Global Media, (Mumbai, IND), p 43 3. Lesonsky, R. (2001): Start Your Own Business: The Only Start-Up Book You’ll Ever Need, Entrepreneur Press, Irvine, CA, USA, p 24 4. Price, R. W. (2004): Roadmap to Entrepreneurial Success: Powerful Strategies for Building a High-Profit Business, AMACOM Books, Saranac Lake, NY, USA, p 73. 5. Pinson, L. and Jinnett, J. (2006): Steps to Small Business Start-Up: Everything You Need to Know to Turn Your Idea Into a Successful Business, Dearborn Trade, A Kaplan Professional Company, Chicago, IL, USA, p 2-3. 6. Henricks, M. (2001): Grow Your Business, Entrepreneur Press, Irvine, CA, USA, p 152. 7. Burk, J. and Lehman, R. (2004): Financing Your Small Business, Sphinx Publishing, an Imprint of Sourcebooks, Inc., Naperville, IL, USA, p 21. 8. Martin, V. (2006): Managing Projects in Human Resources, Training and Development, Kogan Page Ltd., London, GBR, p 11. 9. Reeves, R. (1961): Reality in Advertising, Knopf, New York, NY, USA 10. Silverman, G. (2001): Secrets of Word-of-Mouth Marketing: How to Trigger Exponential Sales Through Runaway Word of Mouth, AMACOM Books, New York, NY, USA, p 21. 11. Hundekar, S.G., Appannaiah, H.R. and Reddy, P.N. (2010): Principles of Marketing, Global Media, Mumbai, IND, p 103 12. Agresta, S., Bough, B. B. and Miletsky, J. I. (2010): Perspectives on Social Media Marketing, Course Technology / Cengage Learning, Boston, MA, USA, p 2, p 36. 13. Assenov, I. (2012): Social Media Marketing and the Hospitality Industry: Evidence from Thailand. 6-7 Sept 14. Evans, D (2010): Social Media Marketing: The Next Generation of Business Engagement, Sybex, Hoboken, NJ, USA 15. Weintraub, M. (2011): Killer Facebook Ads: Master Cutting-Edge Facebook Advertising Techniques (2nd Edition), Sybex, Hoboken, NJ, USA, p 2. 16. Adler, L. and Sillars, R. (2010): Linked Photographers’ Guide to Online Marketing and Social Media, Course Technology / Cengage Learning, Boston, MA, USA 17. Martin, C. L. And Crisp, M. G. (Editor) (1992): Starting Your New Business: A Guide for Entrepreneurs, Course Technology / Cengage Learning, Menlo Park, CA, USA, p 12. 18. Volkmann, C. K., Tokarski, K. O. and Ernst, K. (2012): Social Entrepreneurship and Social Business: An Introduction and Discussion with Case Studies, Springer Gabler, p 106 19. Ang, S. and Van Dyne, L. (Editor) (2008): Handbook of Cultural Intelligence: Theory, Measurement, and Applications, M.E. Sharpe, Inc., Armonk, NY, USA 20. Price, R. W. (2004): Roadmap to Entrepreneurial Success: Powerful Strategies for Building a High-Profit Business, AMACOM Books, Saranac Lake, NY, USA, p 45. 21. Limited Partnership – GPO2, http://www.companieshouse.gov.uk/about/gbhtml/gpo2.shtml, accessed 10 August 2013 22. Set up a business partnership, https://www.gov.uk/set-up-business-partnership, accessed 10 August 2013 23. Fagg, H. (January 19th, 2013): New Disclosure and Barring Service (DBS): What it means for private tutors, http://www.thetutorblog.com/tag/crb/, accessed 10 August 2013 24. Guide: Disclosure and Barring Service (DBS) checks (previously CRB checks), https://www.gov.uk/disclosure-barring-service-check, accessed 10 August 2013 25. Burns, J. (2 August 2013): Private tutors boost grammar chances, suggests survey, http://www.bbc.co.uk/news/education-23547666, accessed 7th of August, 2013 26. Dyer, A. (24 July 2013): Private Tuition Is on the Rise, Should the Industry Be Regulated? HUFFPOST STUDENTS United Kingdom, http://www.huffingtonpost.co.uk/alex-dyer/private-tuition-regulation_b_3643876.html, accessed 8th August 2013 27. Aug 17th 2013: Private tuition Premium economy, The Economist (British Edition), http://www.economist.com/news/britain/21583707-private-education-becoming-more-egalitarian-premium-economy, accessed 20th of August, 2013 28. http://www.gumtree.com/other-tuition-lesson-services/london/private+tutor, accessed 09 August, 2013 29. http://www.hometutorsdirectory.co.uk/EastLondonTutors.html, accessed 09 August, 2013. 30. Disclosure Scotland: Apply online for Basic Disclosure: Cost, http://www.disclosurescotland.co.uk/apply-online/#cost, accessed 10 August 2013 31. http://www.companieshouse.gov.uk/infoAndGuide/faq/registerNewComp.shtml, Accessed 19 August, 2013 32. LP5 form, LIMITED PARTNERSHIPS ACT 1907: Application for Registration of a Limited Partnership (In accordance with section 8 of the Limited Partnerships Act 1907), http://www.companieshouse.gov.uk/forms/generalForms/LP5_Application_for_Registration_of_a_Limited_Partnership_and_Statement_of_particulars_and_of_the.pdf, accessed 19 August 2013 33. Latest Bt Business Deals: http://www.uswitch.com/broadband/providers/bt_business/?bb=1&gclid=CJ2ZrMW3m7kCFZPItAodcAIAPQ#content, accessed 19 August 2013 34. O2 Pay and Go Go Go: https://www.o2.co.uk/freesim/, accessed 19 August 2013 35. http://www.currys.co.uk/gbuk/computing/laptops-315-c.html, accessed 19 August 2013 Appendix Table 1: Expected Revenue, Year 1 |Jan |Feb |Mar |Apr |May |Jun |Jul |Aug |Sep |Oct |Nov |Dec | |Entrance Exam | £1,000 | £1,000 | £1,500 | £2,000 | £2,500 | £5,000 | £6,000 | £6,500 | £4,500 |0 |0 |0 | |13+ | £1,500 | £1,500 | £2,000 | £2,000 | £2,000 | £2,500 | £1,500 |0 | £1,000 | £1,500 | £1,500 | £1,000 | |GCSE | £1,000 | £1,000 | £1,000 | £1,500 | £2,500 | £2,500 | £1,500 |0 |0 |0 | £500 | £500 | |Total Revenue | £3,500 | £3,500 | £4,500 | £5,500 | £7,000 | £10,000 | £9,000 | £6,500 | £5,500 | £1,500 | £2,000 | £1,500 | | Table 2: Teachers’ Payment, Year 1 |Jan |Feb |Mar |Apr |May |Jun |Jul |Aug |Sep |Oct |Nov |Dec | |Shirin | £800 | £800 | £1200 | £1200 | £2000 | £2400 | £2400 | £1600 | £1440 | £400 | £480 | £400 | |Meer | £1200 | £1200 | £1200 | £1600 | £2000 | £2800 | £2400 | £1600 | £1520 | £400 | £560 | £400 | |Faisal | £800 | £800 | £1200 | £1600 | £1600 | £2800 | £2400 | £2000 | £1440 | £400 | £560 | £400 | |Total Payroll | £2,800 | £2,800 | £3,600 | £4,400 | £5,600 | £8,000 | £7,200 | £5,200 | £4,400 | £1,200 | £1,600 | £1,200 | | Table 3: Profit and Loss (Before Taxes), Year 1 |Jan |Feb |Mar |Apr |May |Jun |Jul |Aug |Sep |Oct |Nov |Dec |Total | |Revenue | £3,500 | £3,500 | £4,500 | £5,500 | £7,000 | £10,000 | £9,000 | £6,500 | £5,500 | £1,500 | £2,000 | £1,500 | £60,000 | |Fixed Cost | £3615 |0 |0 |0 |0 |0 |0 |0 |0 |0 |0 |0 | £3,615 | |Variable Costs | £35 | £35 | £45 | £55 | £70 | £100 | £90 | £65 | £55 | £15 | £20 | £15 | £600 | |Teacher’s payment | £2,800 | £2,800 | £3,600 | £4,400 | £5,600 | £8,000 | £7,200 | £5,200 | £4,400 | £1,200 | £1,600 | £1,200 | £48,000 | |Total Cost | £6,450 |2835 | £3,645 |4455 | £5,670 |8100 | £7,290 |5265 | £4,455 |1215 | £1,620 |1215 | £52,215 | |Total Profit |- £2,950 |665 | £855 |1045 | £1,330 |1900 | £1,710 |1235 | £1,045 |285 | £380 |285 | £7,785 | |Note: Variable costs are determined as 1% of the expected revenue; assumption includes additional cost of travelling (Zone 1).