Tactics and Strategies (for a business) Essay Example | Topics and Well Written Essays - 750 words

Tactics and Strategies (for a business) - Essay Example Debts are an important strategy in providing financial support for the business. The use of equity should be substituted with debts which have a higher potential for financing the organization. Each of the shareholders needs to be aware of how they can generate value. The organization’s management should play the role of planning and incorporating decisions regarding finances and all the ventures that the organization undertakes, especially those involving cash flows in one way or another. It is important for the company to have wide-ranging customer strategies. These are significant in the improvement of customer value. It is important for the management to be capable of evaluating strategies involving customers, especially regarding the operating environment. Working with other companies in order to establish their manner of operation as well as the way they relate with customers is important in understanding how to create customer value. The organization should focus on all aspects of its operations especially regarding the manner through which customers’ opinions reach the management, as well as the manner through which customers receive response to their enquiries from the management. Understanding what competing companies are offering can help the organization to make a comparison in regard to customer satisfaction. After the management establishes whether the customers are satisfied, it is important to link this satisfaction to the company objectives in order to establish if they have been satisfied. Investing in research and development is important in ensuring that the organization is capable of branding and satisfying customers in general. Such strategies are important in the enhancement of value within the organization. Information technology is essential to any business that operates in the modern

Be able to evaluate the financial performance of a business Assignment

Be able to evaluate the financial performance of a business - Assignment Example Investors often use financial analyses for making appropriate investment decisions. Financial Institutions: In order to arrive at suitable decisions regarding granting a company with extended debt  securities  like debentures or long-term  bank loan, or new  working capital  etc, financial institutions will need to verify the financial statements of companies. Government Entities: They need to verify these statements to determine the correctness and accuracy of  taxes  and further duties stated and paid by a business. Such statements will also help them in ensuring that the company is operating within the framework of relevant statutes and are complying with all statutory obligations. Vendors: Financial statements help them evaluate the creditworthiness of the company so as to enable them to take appropriate decisions. Media and the General Public: Financial statement allows this interest group to evaluate the performance with respect to ethical trading, compliance of e nvironmental spending etc. IAS 1 modified the financial statements title as they will be used in International Financial Reporting Standards: Balance Sheet' will amend as 'statement of financial position’ Income Statement' will amend as 'Statement of Comprehensive Income' The revised International Accounting Standards (IAS1) has come into effect from the year 2009. However, it is not obligatory on the part of firms to use the latest titles in the financial statements. The Components of the Financial Statements: An entire set of financial statements as specified in the International Accounting Standards comprises: 1. Profit and Loss Account: Also known as Statement of Comprehensive Income, this statement for a specific period reflects the profit or loss for that particular period with other comprehensive income documented in that period. The standard is now using 'profit or loss' instead of the descriptive term 'net profit or loss' for the foot line of the income statement, co nsequent to the 2003 revision to IAS1. â€Å"All items of income and expense recognised in a period must be included in profit or loss unless a Standard or an Interpretation requires otherwise† (Accounting Standard (AS) 5: Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies n.d., p. 50). 2. Balance Sheet: Statement of Financial Position: This contains the detailed description of a company's  assets,  liabilities and  ownership equity  at a given point in time. Information to be presented in the statement of financial position IAS 1 specifies the minimum information which must be reflected on the balance sheet. 3. Cash Flow Statement: Cash flow statement after the reissue of IAS 1 is termed as Statement of cash flows and it presents a company’s cash flow activities, mainly it is operating, financing and investing activities. Besides, it also offers users of financial statements with a foundation to evaluate the companyâ€℠¢s capability to create cash and cash equivalents and the concern’s requirement to utilise their inward and outward cash flows. IAS 7 specifies requirements for presenting and disclosing cash flow information. PART B: AC 4.2 Compare appropriate formats of financial statements for different types of business. Different types of

Main Stages Involved In Capacity Management Tourism Essay

Main Stages Involved In Capacity Management Tourism Essay Capacity management in the tourism industry is measured by the available seat-miles per month. Capacity management is an important factor within hospitality operations as it tests activity for the manager and therefore gives them an indication of the maximum level of value-added over a period of time, so they can see what the operation could achieve in normal conditions. According to Armistead and Clark (1994, p6) Capacity management is the ability to balance demand from customers and the capability of the service delivery system to satisfy the demand. This places an emphasis on understanding first, the nature of demand by forecasting and second, the options for managing capacity to meet the expected demand. The process consists of forecasting and managing capacity, these are made up from smaller components which will be discussed in further details in this report. 2. Forecasting Forecasting is used to identify capacity gaps between product demand and the current capacity. It is an important process in all management decisions not just tourism management; although each situation is different you can apply the same procedures to make realistic capacity decisions within any business. Forecasting methods can be divided into qualitative and quantitative categories which are based on the availability of historical time series data. Establishing the level of demand when forecasting is of the upmost importance as failure to do so can cause over booking and overcrowding. Other eventualities from inaccuracy of forecasting can include incorrect numbers for staff and lack aircrafts which was one of the factors which effected American airlines development in 1990 (Krajewski and Ritzman, p275) . It helps to understand product life cycle as it will impact the capacity. It is also important for a manager to look at external factors such as trends as they will have an effect on the supply and demand of a product or service, these can include; Ageing population- this will affect the quantitative forecasting as our current population is living longer, so you cant use historical data to establish relationships as its continuously changing. Seasonal trends- They can depend social, economic and environmental impacts. This would be best measure by qualitative forecasting. Disposable income- Due to the recession people will have less disposable income. 2.1 Forecasting Techniques There are various different forecasting techniques that cover various timescales, the two most common techniques are: Long-term capacity management For large projects Usually planned over several years In tourism this will involve several departments Short-term capacity management Plan and order resources Usually a monthly, weekly or daily basis Tourism short term capacity management would involve the cleaning of an aircraft Long term planning requires demand forecasts for an extended period of time, the decisions made are often concerned with strategic decisions to ensure achievement of their desired objectives. Short-term capacity management focuses on relatively small time durations and specific processes; they are specifically for smaller levels of operation. Unfortunately, forecast accuracy declines as the forecasting time lengthens. Forecasts also dont allow for competitors actions however waiting line models and decision trees do. 3. Types of forecasting Forecasting methods can be divided into two broad approaches, these are; Qualitative Quantitative The majority of forecasting techniques use past or historical data in the form of time series. One single method is never used on its own as they are both usually interlinked. 3.1Qualitative Forecasting The Qualitative method generally uses the judgment of experts in the appropriate field to generate forecasts. An advantage of this is that experts can generate a forecast if there isnt any historical data available. The main challenge to qualitative data analysis is that there is no clear and accepted set of conventions for analysis corresponding to those observed with quantitative data (Robson, 1993, p.370). The most popular methods of qualitative forecasting are: Delphi technique Scenario writing Subject approach Expert opinion Life cycle analysis 3.2 Quantitative forecasting The Quantitative methods use historical data; the methods consist of analyzing historical data concerning the time series of the particular variable of interest and other time series if they interlink with the area concerned. There are two main methods used within quantitative forecasting, the first method bases the future forecast on a past trends, these are known as time series methods. The second method also uses historical data. But the forecaster examines the cause and effect relationships of the variable with other relevant variables such as; Disposable income Interest rate Unemployment rate The state of the economy e.g. the recession This type of forecasting uses past time series, forecasting techniques that are under this category are called casual methods. 4. Capacity management After deciding what products and services should be on offered, management should then plan the systems capacity. The first step in the Capacity Management process, forecasting, is the best way to judge attendance and understand product life cycle. Therefore Capacity Management itself is used to make sure the capacity, from a tourism managers point of view, meets the targets set. The capacity of an airline usually depends on the location and the available seats per miles, as well as staff, time and other resources which are used. 4.1 Measuring Capacity According to (Krajewski and Ritzman, p276) No single capacity measure is applicable to all types of situations Every manager will have to take other factors into consideration before they measure their capacity. If there is an insufficient capacity it wont be possible to meet all of the demand, therefore to much capacity is provided and this will result in resources not being used to their maximum capability. 4.2 Coping with Demand The need for accurate forecasts of tourism demand to assist managerial decision making is highly important as the tourism product is perishable and if it doesnt meet the demand they lose revenue as an aircraft still has to fly without the demand being met. There are several ways of coping with demand and these are; Keep the activities level of resources constant and ignore any fluctuations. Adjust capacity to match demand. Change the demand to fit the capacity. 4.3 Queuing Theory Queuing theory is important to an as its one of the important factors in meeting their attendees needs. Queues arise when a demand for a service has exceeded the capacity, the customer doesnt get the service straight away upon arrival so they must wait for the service to be ready. This is an important for an airport as they have a random system which customers can arrive at any time; it isnt difficult for an airport to experience queues, but it is important that they deal with them sufficiently. These queues will often build up, disappear in quieter periods and then reappear all the time as there are always flights departing and arriving. Airports offer departing guests waiting rooms and shops to deal with queues and when they arrive they must go through customs which is a slow but easy method for managing the mass amount of people. 4.4 Queue Discipline Most managers will employ a simple queuing method to ensure a positive experience for the customer. These can be; Priority system for certain customers FIFO First In First Out LIFO Last In First Out 5. Conclusion This report has looked at the three main stages involved in capacity management and the different methods available to any manager. Although forecasting isnt always accurate, there is a wide variety of techniques in the first stage which can be used for any method. It is highly important to consider past experience as well as modern trends for more of a refined forecast, failure to do so could lead into an inaccurate forecast. The capacity management stage can then deal with the demand if it is insufficient or too high, then the queuing theory may be taken into consideration. In an airport due to the nature of the business it is unpredictable to measure the amount of customers as people can come and go as they please. This means the queuing theory may or may not make the service time, however if the demand has been manipulated to help predict the expected demand then it will reduce the waiting time and overall give the customer a positive experience. All of the stages combined prepare a tourism manager for any unforeseen outcomes in a tourism service and will allow them to successfully manage any outcome.

Writing For An Audience :: Business Letters

To Whom It May Concern: Our company is on of the largest technology firm in the market place as of today. We successfully deliver leading technology to all our clients all over the world, and we will continue to strive to be the most innovated firm out there. For the past 10 years we have been focusing on achieving the best results for companies applications, by hiring only the cutting edge programmers in the field today. Since we keep growing because of all our clients’ dedication to our company we are looking for a new home. So on November 14, 2007 we will be moving our company to a new location which will better suit our needs to continue giving exceptional service to our devoted clients. Once this move is complete we will have a more enforced department were our developers our working on bring you better widget applications. For many of you may not know what we our developing here our widgets will provide you quick access to Internet sites, desktop utilities such as note pad, to do list, calendar s, clocks, weather, and task managements. Other such utilities are media players, web cams, games, and desktop animations. We also develop tools to monitor system resources, and application launchers. Beginning in our first quarter of the New Year we will be expanding our widget application department. What this will mean to you is more advanced application, greater more precise web tools, and more bandwidth for web applications. We will be more advanced than ever and this will only complement your companies over all performance. Were this will help your company that we our expanding our bandwidth by 46 % where this will give your web applications far more stability and far less lag time. You will start seeing these advancements within late January, and far more advanced services in the early part of the 2nd quarter. So we here at our company are very excited about our new advancements, and we hope you are to. With in the ending weeks of October there will be some negative effects in our widget developing there will be some delay in the production we bring to you. As part of our great move we will soon have to break down many of our servers that our programmers use on a daily basi s. Unfortunately this will have an ill affect to you our clients, as you already know this slight set back is only going to make as a much more solid programming environment.

Juvenile and False Confession

I have heard the police repeat the Miranda right time and again in television movies involving police and crime suspect. Prior to my MS in forensic psychology program in Walden University, I had not the slightest idea that the words embedded in Miranda rights are actually legal right, I thought they were mere lines used in movie acting and I never envisaged its importance; even Police in Nigerian movies recites this right to crime suspects even though the Nigerian constitution is silence about such right.Historically, Miranda right was a landmark decision of the United States Supreme Court which passed 5-4 in 1966 in the lawsuit Miranda v. Arizona, 384 U. S. 436. Miranda rights gives suspects the right to remain silent when arrested, the knowledge that any statement made can be used against them in a Court of law and an understanding they have the right to an attorney and they reserve the right to waive this right and succumb to interrogation by the police. Research abound that addre sses the inability of juveniles in fully comprehending the implication of waiving Mirada rights.Ferguson, Jimenez & Jackson (2010) conducted literature review of relevant research studies and lawsuits to establish the fact that juveniles are not properly developed to make informed decisions when it comes to upholding their right to remain silence in the wake of police arrest and their competence to stand trial. Studies has confirmed the fact that age an IQ level of juveniles is related to juveniles’ ability to comprehend Mirada rights (Goldstein, Condie, Kalbeitzer, Osman, & Geier, 2003).Grisso (1997) also noted that juveniles’ limited understanding of legal terminologies leads to increased risk of waiving their Miranda rights. Ferguson, Jimenez and Jackson further reviewed articles on cognitive and psychological abilities in juvenile citing the MacArthur Foundation Research Network on Adolescent Development and Juvenile Justice. The foundation’s study indicated that adolescents and adult differed significantly in psychosocial abilities.The most important result of this research work which symbolized a compilation of findings from literature reviewed on competency to stand trial and vulnerability to false confession which is of immense value to the police setting is the finding by Kassin and Norwick (2004) which indicated that innocent individuals were more likely to waive their Miranda rights than guilty individuals because of their faith in the legal system. Another important finding was gotten from the review ofViljoen, Klaver and Roesch (2005) study which revealed that defendants aged between 11 to 17 years, older ones remained silent while younger ones were more likely to confess. This was in consonant with Redlich and Goodman (2003) who assessed false confession between 3 age groups: 12 to 13, 15 to 16 and 18 to 26. the 12 to 1 age group were more prone to false confession. Older juveniles were however more prone to false confession when presented with â€Å"evidence. † Overall, the research found juveniles between the age of 12 and 16 were practically vulnerable to false confessions.The various results reported is of immense value in police settings. The police using the results of this research must pay particular attention to defendants who refuse to waive their Miranda rights because as Kassin And Norwick (2004) study has revealed, innocent defendants are quick to waive their Miranda rights. However, care must be taken by police to find out the waiving of rights by defendants is due to psychological immaturity on account of age of the defendant (Goldstein et al. , 2003) or is due to the defendants’ lack of understanding of legal terminologies (Grisso, 1997).The results of this research also revealed that juveniles between the age of 16 to 18 may give false confession when presented with â€Å"evidence. † The police must explore other ways of interrogating juveniles to obtain reliable an d correct information other than presenting false evidence which influences juveniles negatively thereby leading them to make false confession. Knowledge gleaned from Eckhardt, Norland, and Bradley(2004) study is that sometimes, offenders’ maladaptive behavior is specific to the individual characteristic of the perpetrator.Forensic psychology professionals working in police setting must understand juveniles on account of their age lacks the capacity to understand legal terminologies which may be one of the reasons they more readily waive their Miranda rights (Grisso, 1997). Forensic Psychology Professionals in police settings must therefore work with juveniles with the understanding that their stage of psychosocial development is below that of the adults. REFERENCES Eckhardt, C. , & Norlander, B. (2004). Anger Hostility and Male Perpetrators of In- Timate Partner Violence: A Meta-Analytic Review. Clinical Psychology Rev- Iew 25, 119-152Ferguson, A. C. , Jimenez, M. M. & Jacks on, R. L. (2010) Juvenile False Confessio- ns and Competency to Stand Trial: Implication for Policy Reformation and Research. The New School Psychology, 7 (1) Goldstein, N. E. , Condie, L. O. , Kalbeitzer, R. , Osman, D. & Geier, J. L. (2003). Juvenile Offenders’ Miranda Rights Comprehension and Self-Reported Likelihood of Offering False Confession. Assessment 10 (4): 359-369. Grisso, T. (1997). The Competence of Adolescents as trial defendants. Psycholo- Gy Public Policy and Law, 3 (1) 3-32. retrieved from http://www. apa. org/ Pubs/journals/law/ Kassin, S. M. & Norwick, R. J. (2004).Why People Waive ther Miranda Rights: The Power of Innocence. Law and Human behavior, 28 (2), 211-221. Ret- Rieved from http://www. springer. com/psychology/law+&+psychology/ Journal/10979 Redlich, A. D & Goodman, G. S. (2003). Taking Responsibility for an act not Committed: The Influence of Age and Suggestibility. Law and human Beh- Avior, 27 (2),141-156 DOI: 10. 1023/A:1022543012851 Viljeon, J . L. & Roesch, R. (2005). Competence to Waive Interrogation Interroga- Tion Rights and Adjudicative Competence in Adolescents Defendants: Co- Genitive Development , Attorney Contact, and Psychological Symptoms. Law and Human Behavior, 29(6):723-743

Should Rich Countries Help the Poor Countries

Should  Ã‚  rich countries help the poor countries? There is so much debate surrounding the issue of rich countries should help the poor countries. Proponents think that rich countries should help the poor countries because loaning money to developing countries aids can helping them improvement the situation from poverty and disease. Opponents,  think that  the money doesn't go for  the place  where  they needs and the debt is  a lot of pressure for the poor countries. In my opinion, that rich countries should help the poor countries.The responsibility of richer countries  help the poor countries  should more than they did it before, it can be throught in health, education,economy and policy. One of the strongest reason for people who against the rich countries should help the poor countries is the aid doesn't work. Foreign aid   usually considered too much for poor countries, or useless on inability governments. Africa has received over US$1 trillion in internati onal aid over the past 50 years, intended for health care, education, infrastructure and agriculture, among other things. Between 1970 and 1995 aid to Africa increased rapidly and aid dependency (measured as the aid-to-GDP ratio) stood at nearly 20% in the early 1990s. Measured differently, the mean value of aid as a share of government expenditures in African countries was well above 50% between 1975 and 1995†³ (Why Aid Doesn't Work). â€Å"The total amount of international development aid is now more than $100 billion a year to Africa. In 2008, rich countries gave $119. billion in foreign aid. This is over 10% more than in 2007 and is the highest amount ever given† (Statistics on International Development Aid). In the same period, the per capita GDP growth in Africa to reduce, for many years has been negative. Unfortunately, although good intentions from donor countries, the aid work has been useless in against poverty and promote the economic continued growth. The fac t is that most African countries are poorer today.This is because the most foreign aid provided in ineffective way and usually wasted, but also it can be influenced the negative way to the enconomic. The reason of the people who oppose rich countries should help the poor countries are one side. There are not perfect things in the world. Every human being is given same right to live and equal. The people live in poor countries usually suffering from extremely difficult conditions, such as disease,  turbulence, poverty, unemployment, lack of food and education, inefficiency and corrupt government.The devastating consequences of the epidemic, upheaval, poverty, and the lack of education and food, lead to the highest mortality rate, inefficiency work, illiteracy, but  this can be improvement through foreign aid, the money from rich countries can bring enough food and medicine. Also,  the rich countries' aid can developing   infrastructure and basic education to those poor countr ies, such as roads and pipelines efficiently, high school and university. â€Å"The public health successes can be seen on many fronts. Around 12 million children under five years old died in 1990.By 2010, this number had declined to around 7. 6 million – still far too high, but definitely an historic improvement. Malaria deaths in children in Africa were cut from a peak of around 1 million in 2004 to around 700,000 by 2010, and, worldwide, deaths of pregnant women declined by almost half between 1990 and 2010, from an estimated 543,000 to 287,000†³ (Foreign aid works – it saves lives). â€Å"In Liberia, nine years after the fact, the population of just four million people still bears the scars of a country where a vicious war has raged.Here, UNICEF funds a remarkable cash transfer scheme for households headed by children which has so far helped 2,000 youngsters. The fund gives out $60,000 a month in total, which equates to $25 a month for the most vulnerable ch ildren. Ninety-seven per cent of the families benefiting from the scheme take their child to a health center when they are ill and 90 per cent have increased food security† (Does aid work? ). All those number shows the foreign aid helps to save lives in needy countries. This is very important for those people who are suffering from starvation, poverty or contagious diseases in poor countries.We can't because of a little bit negative impact of economic, then deny the huge influence that foreign aid works in poor countries to help, and survival people's life. Furthermore, in the background  of economic globalization, the world is getting more and more close contact. The   people from different countries have  a great personnel flow frequency and the world trade is becoming greater more than before. However, there still have a   lot of people live in poverty in many places, the gap between rich countries and poor countries are expanding.The rich countries have huge income and outcome by world trade and high productivity. But, if the rich countries want to get benefit of economy in the future, they need to take care of people who will be enormous consumers in the future. Unless rich countries help the poor countries, economy of world will face unhealthy situation. In this case, rich countries should help the poor countries. Final, the most of poor countries governments are inexperience and inefficiency when they make a decision or face enmorgency. For this reason, the governments of poor countries need rich countries' help.Through rich countries help, poor countires can get solution of the problem they are facing. This can make the government of poor countries complete their policy, and gain their experience for emergency ability. The most problems which poor countries right now have, are similaring that rich countries already had and solved it before, and they have enough experiences to teach and help them to figure out the problems. In conclusion, the rich countries should to help poor countries in many ways including education, medical, health, economy and policy, because with great power comes great responsibility.Work cited: Ashdown, Paddy, Does aid work, New Statesman, 2012, 27-28. Accessed 8/25/2012. Fredrik Erixon, Why Aid Doesn't Work, 2005, 48. Accessed 8/25/2012. Foreign aid works – it saves lives, Accessed 8/25/2012 http://www. guardian. co. uk/business/economics-blog/2012/may/30/foreign-aid-works-saves-lives Statistics on International Development Aid. Accessed 8/25/2012. http://filipspagnoli. wordpress. com/stats-on-human-rights/statistics-on-poverty/statistics-on-international-development-aid/