Teenagers and Students Essay Example

Teenagers and Students Essay People in this group are young children that are still at compulsory education which means they will not need any big loans from bank to pay off any expenses e.g. University fees, although their parents might want to set up a savings account for them for when they grow up. Their parents and guardians will also support them so they should be responsible for any of their financial needs. Teenagers and Students (17-22) Teenagers and students from the age of 17 to 22 are quite different from the school age youth. This is because they are no longer at compulsory education and their financial needs have increased so their parents or guardians may support them less financially, because they will be expected to get a job. This means they will need to open a bank account so that when they do get in to the world of work their salary can be paid directly to the account. There are lots of financial services available to teenagers and students e.g. credit cards, but they might not be open to all of the major credit card companies e.g. (Master card, Visa, American express) because they do not have any credit history so they will need to start off with a student credit card. We will write a custom essay sample on Teenagers and Students specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Teenagers and Students specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Teenagers and Students specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Some people in this group will be finishing 6th form / college and be looking to go University and take their education to a next level but this in not cheap so they may need a bank loan to pay for the University fees. Post-education / pre-families (23-30) People in this group are young adults that have just finished university and looking to start a family. So this means that their financial needs will be quite great. This is because people in this group will be paying off student loans for their university fees. They might also want to get a mortgage to buy a house just to start off a family. The parents may perhaps open up a bank account to start saving for their childrens future university fees. Established families (40-50) Established families will be still paying off their mortgages and other financial debts. Parents in this stage will still be at work to keep on supporting their family financially. Their kids will be close to the time of leaving their house so there parents will be saving money for their kids university fees, if they decide to go on to further education. In addition they might also want to start thinking about starting life insurance Mature household (50-60) People in the mature household sector are at the stage of their life where there children will be moving out of the house and going on to further education at university, this means that the parents may be saving for their childrens university fees. At this time of their life they should have paid off or be close to paying off their mortgages and financial debts, but this all depends on how high their income is. Parents in this life stage will be thinking about life insurance so they will need to pay money in to their life insurance. Retired pensioners (60+) At this stage of their life they should have paid off their mortgages and other financial services. Pensioners are at a stage in their life where they do not have any big financial responsibilities. They will only be paying for personal needs E.g. clothes and food. This is because at this time of their life their children will be definitely moved out of the house. Pensioners are being supported financial by the government. Task 3 Introduction In task 3 I have been asked to design and create a fact sheet that explains three different banking services available to two people at different life stages, the people I am going to choose are Students and young families. Bank Services available for Students from Royal bank of Scotland and Barclays Bank Graduate current account A current account is used to hold funds for an individual. The benefit of having a current account is that it is an easy way of adding interest to the money that is in the account. Students will need a current account for many reasons, like salaries and benefits can be paid in and paying bills can be made a lot easier. This is because money can automatically put in and the bill will be automatically paid via direct debit. The account will also give interest on the balance will help their money grow. The graduate royalties account is available for 3 years and comes with an interest free overdraft up à ¯Ã‚ ¿Ã‚ ½2000. An overdraft is a service that enables the account holder to withdraw over and above what they actually have in the account. Overdrafts are only available to people over the age of 18. This service will be appropriate for teenagers because it is flexibility on those occasions when you might need to spend before your money is paid in. This is also a preparation for teenagers to handle loans and credit cards because it is the banks money they are handling on a small scale. Student Credit from The royal Bank of Scotland A credit card allows customers to purchase goods on credit. This means that the customer will not have to pay for the good at the time of the transaction. The banks loans the customer money by a credit card. This loan is interest free for a short period time (after which the APR is usually quite high). The student Credit Card is designed for student life. It is a big breakthrough for students when they need all their essential needs. Food, clothes and books. When you add up all the expenses of student living it comes at a big price. On the student credit card there is up to 56 days interest free credit and this should come as good news (if the customer pays the balance in full and one time and have paid the previous months balance in full and on time) If not the interest rates will apply. The card is very flexible because it can be managed online from a computer or MAC to check balances etc. Graduate loan from Barclays Bank A loan is when a bank lends a customer money for a long term period. Interest rates vary depending on the sum of money taken out and the time taken to pay it back The graduate loan from Barclays bank is designed for students at university that are reaching their peek at university and getting ready to graduate. At this point in their life they are not really financial blessed so the graduate loan will help the individual settle down in their new life. The customer can borrow up à ¯Ã‚ ¿Ã‚ ½10,000 and can apply for repayment terms up to 60 months so this is really good and flexible for the individual. Fixed interest rates so monthly repayments never change. Loan Amount Representative APR Repayment Term* Monthly Repayment Total Payable à ¯Ã‚ ¿Ã‚ ½3,000 8.4% 60 months à ¯Ã‚ ¿Ã‚ ½62.38 à ¯Ã‚ ¿Ã‚ ½3,742.80 à ¯Ã‚ ¿Ã‚ ½5,000 8.4% 60 months à ¯Ã‚ ¿Ã‚ ½103.97 à ¯Ã‚ ¿Ã‚ ½6,238.20 à ¯Ã‚ ¿Ã‚ ½10,000 8.4% 60 months à ¯Ã‚ ¿Ã‚ ½207.93 à ¯Ã‚ ¿Ã‚ ½12,475.80 Bank Services available for Young Families at HSBC First time buyer mortgage from Barclays bank A mortgage is the transfer of an interest in property (or in law the equivalent a charge) to a lender as a security for a debt usually a loan of money. While a mortgage in itself is not a debt, it is lenders security for a debt. It is a transfer of an interest in land (or the equivalent), from the owner to the mortgage lender, on the condition that this interest will be returned to the owner of the real estate when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower. The first time buyer mortgage from Barclays bank is designed for people who are looking to buy their first home. So the first time buyer mortgage is designed to make this easy for the customer. There is a 2 year fixed rate mortgage so the customer can budget better at the start of their mortgage. Mortgage Interest rate Application fee What can I borrow? Early Repayment Charge 2-year fixed rate 6.49% until 31/01/2010, then for the remaining term BBBR + 0.95% currently 6.45%. The overall cost for comparison is 6.8% APR à ¯Ã‚ ¿Ã‚ ½995 Up to 95% of the value of your home 3% of the balance repaid until 31/01/2010 2-year fixed rate 6.79% until 31/01/2010, then for the remaining term BBBR + 0.95% currently 6.45%. The overall cost for comparison is 6.8% APR None Up to 95% of the value of your home 3% of the balance repaid until 31/01/2010 BBBR = Barclays Bank Base Rate. Homeowner loan from Barclays bank The homeowner loan is simply made for people that own a home and need to borrow between à ¯Ã‚ ¿Ã‚ ½5000 and à ¯Ã‚ ¿Ã‚ ½100,000. The payments can be paid over 25 years and the monthly outgoings could be reduced by 50% this is achieved by spreading your new loan over a longer term. By doing this, your overall interest payments will increase. Platinum Credit Card from the royal bank of Scotland The platinum credit card from the royal bank of Scotland is designed for people that are over 25 and earn more than à ¯Ã‚ ¿Ã‚ ½25,000 a year. This is clear the key charteristcs of an individual in the young families life stage. The customer can get 0% interest for 13 months from when they open their account and also pay 0% interest on balance transfers. Summary Box The information contained in this table summarises key product features and is not intended to replace any terms and conditions. APR Typical 13.9% APR (variable) Other Interest Rates Introductory Rate Monthly Rate Annual Rate Simple Effective Purchases 0% for 3 months 1.094% 13.128% p.a. 13.947% p.a. Balance Transfers 0% for 13 months 1.094% 13.128% p.a. 13.947% p.a. Cash Advances N/A 1.873% 22.476% p.a. 24.942% p.a. Money Transfers N/A 1.094% 13.128% p.a. 13.947% p.a. Interest Free Period Maximum 56 days for purchases if you pay your balance in full and on time, and have paid the previous months balance in full and on time no interest free period on cash advances or money transfers. Interest free period on balance transfers only applies to the introductory period. Interest Charging Information The periods over which interest is charged are as follows: From Until Purchases transaction date repaid in full Balance transfers transaction date repaid in full Cash advances transaction date repaid in full Money transfers date debited to your account repaid in full Allocation of Payments We will apply payments we receive to your account in the following order: Interest on special offers Other interest, any fee and charges Special offers Purchases and balance transfers Cash advances and money transfers See section 2(D) (b) of your Credit Card Agreement for full details. Minimum repayment Greater of 2.25% of your balance (rounded down to the nearest pound) or à ¯Ã‚ ¿Ã‚ ½5 each month. Please note: we do not recommend that you only ever make your minimum payment. Amount of credit Minimum initial credit limit is à ¯Ã‚ ¿Ã‚ ½300 and maximum is à ¯Ã‚ ¿Ã‚ ½20,000. All other credit limits (including the maximum available) are subject to status. Fees No Annual Fee. Charges Cash advances (except gambling transactions) subject to a handling fee of 2.5% with a minimum of à ¯Ã‚ ¿Ã‚ ½2.50; Balance transfers subject to a fee of 2.5% (min à ¯Ã‚ ¿Ã‚ ½5) during the first three months from account opening unless you qualify for exemption from that fee or are notified of a different fee under the terms of a special offer we make in connection with your application; Foreign exchange transactions subject to conversion fee of 2.75% (including purchase of foreign currency and travellers cheques); Copies of statements are subject to a fee of à ¯Ã‚ ¿Ã‚ ½3. Default charges Late payment and over limit fees are à ¯Ã‚ ¿Ã‚ ½12; administration fee of à ¯Ã‚ ¿Ã‚ ½10 to process dishonoured cheque or direct debit; administration fee of à ¯Ã‚ ¿Ã‚ ½12 to return unpaid promotional cheque to prevent you going over your limit. This is the rates and fees from the platinum credit card from the rbs (http://www.rbs.co.uk/personal/credit-cards/g1/platinum.ashx#tabs=section2) Task 4 Introduction: In task 4 I have been asked to explain the distinctive features of two selected retail banking services that render them suitable for two contrasting customers. 7.9% APR typical on Barclays bank personal loan. Annual percentage rate (APR) is the simplified counterpart to the effective interest rate the borrower will pay on a loan. In many countries and jurisdictions, lenders (such as banks) are required to disclose the cost of borrowing in some standardized way as a form of consumer protection. APR is intended to make it easier to compare lenders and loan options. The APR is likely to differ from the note rate or headline rate advertised by the lender, due to the addition of other fees that may need to be included in the APR. However the APR can be found simply by asking the lender, or reading the section about APR in your contract. Typical: The typical part of the annual percentage rate means that the percentage rate may not be the same as the advertisements. The changes are made due to the position of the applicant, depending on how much dept they are in, the level of income they are having etc. People in all life stages will be looking for the lowest Annual percentage rate. 5.25% AER on e saving reward from Barclays bank. Annual Equivalent Rate is a notional rate thats generally quoted on interest paid on savings and investments. It purports to demonstrate what interest return would be if the interest was compounded and paid annually instead of monthly (or any other period). If an account pays interest more than once a year, say, for example, monthly or quarterly, then the AER is calculated by adding each interest payment to the deposit and then calculating the next interest payment, compounding the interest. Thus, on accounts where interest is paid quarterly, the AER will be slightly higher than the quoted gross rate because of the compound interest earned on the interest paid during the year[T1]. Task 5 Introduction: In task 5 I have been asked to describe two retail banking providers that might be considered appropriate to the likely financial needs of two contrasting customers. I will be explaining for is post education / pre families and established families. I will use Barclays bank and the post office Barclays bank will be appropriate for a senior student in university finishing their degree and preparing to have a family. This is because they will be looking for a retail bank to offer them a basic current account to enable them to manage their bills and other finances. People in this life stage will not want to focus on saving or investing although they might want to leave some money aside. Barclays also provides saving products. So if a senior student wants to invest or save large amounts they have a wide range of saving facilities to choose from such as long term savings plans or short term saving plans. This can be managed via online banking so it will make it very easy and save time for the customer. Barclays offers insurance products for all kind of possessions. Such as life, care, home and travel. This will be appropriate for someone in this life stage because they will have lots of important things that will need to be insured. Post office will be appropriate for people in the established family life stage this is because it is more about saving and investments. This will be good because it will help them save for the future whether it is for their children or just for the future. The post office provides the instant saver service, witch has a great rate of 3.75% AER. There is great access to their service because they have over 13000 branches across the uk. Plus over 60000 ATMs across the uk. In addition the account can be managed via online banking. The instant saver offers a double interest guarantee. The first guarantee is to pass on any rise in the bank of England base for 2 years. The second guarantee is that the customers interest rate will never be more that 1% below the bank of England base rate for the life of the account. All interest is paid in annually. The post office also provides a child trust fund. This will be very suitable for people in the established life stage because their life will be comfortable and established so the will be in a good position to want to save for the future and for their children. The child trust fund is a stake holder account. Which means it has strict standards that must be met by the government, and one of these standards is that some of the money must be invested in shares. Task 6 Introduction In this task I have been asked to describe three savings products which will be considered appropriate to the financial needs of two contrasting customers at a given life stage and the customers that I am going to do are people in mature house holds and young families. Savings Builder from Barclays bank The savings builder is for people who have at least à ¯Ã‚ ¿Ã‚ ½10,000 to save, and wants a great rate of interest with easy access to their account via the Internet and telephone. These will be key characteristics of an adult in a mature household. Interest is calculated on the daily statement balance of the account and is payable monthly on the first working day of the month. The rates of interest depend on the account balance and whether any withdrawals have been made from the account in the previous calendar month. Where no withdrawals have been made interest is calculated at the higher range of rates applicable to the account balance. On the other hand when or more withdraws have been made the interest is calculated at the lower range of rates applicable to the account balance. So this will encourage the customer to save. The Saving builders from Barclays Bank will be appropriate for people in an established family as well. Established families should be able to have at least à ¯Ã‚ ¿Ã‚ ½10,000 if they would like to use the service. The rates of interest depend on the account balance and whether any withdrawals have been made from the account in the previous calendar month. Where no withdrawals have been made interest is calculated at the higher range of rates applicable to the account balance. On the other hand when or more withdraws have been made the interest is calculated at the lower range of rates applicable to the account balance. So this will encourage the customer to save. Day to Day Savings Account from Barclays Bank The Day to Day savings account is designed for someone who will need immediate access to their money for unplanned expenses or special treats, which will be part of a universitys students life style. The customer doesnt have to be a regular saver and it is cheap to open with just à ¯Ã‚ ¿Ã‚ ½1 which will be great for the customer. Plus a cash card is available allowing the customer to withdraw up to à ¯Ã‚ ¿Ã‚ ½300. Day to Day Savings Open from à ¯Ã‚ ¿Ã‚ ½1 Maximum deposit N/A Interest rate 4.26% AER (4.18% gross pa)à ¯Ã‚ ¿Ã‚ ½ Access Instant Interest paid (frequency) Monthly Account management Branch, phone, cash card and online (if registered this for Online Banking) The day to day savings account will be appropriate for established families. This is because established families will be settled in their homes heading towards paying off their mortgage, so this means that they will be able to afford to take money out on a day to day basis. In addition believe that adults in this life stage will have unexpected things to pay for like birthdays and day to day maintenance of their child. High Interest Deposit Bond from HSBC Bonds are usually referred to as risk-free bonds, because the government can raise taxes or simply print more money to redeem the bond at maturity. Some counter examples do exist where a government has defaulted on its domestic currency debt, such as Russia in 1998 (the ruble crisis), though this is very rare. The high interest deposit bond is designed for people in the established families life stage. This is because it is designed for people who have between à ¯Ã‚ ¿Ã‚ ½2000 and à ¯Ã‚ ¿Ã‚ ½50000 in savings and concerned about falling interest rates and looking to change the rate of their savings. 5.75% AER /gross. Adults living in this lifestyle will have this kind of amount in savings so it will definitely be appropriate for them. The savings can be over 1, 2 or 3 years and the interested can be added on a monthly or annual basis. Effective Date Term Net % Gross % AER % High Interest Deposit Bond Monthly interest (Fixed Rate) 01.09.08 6 months 4.29 5.37 5.50 12 months 4.48 5.60 5.75 24 months 4.10 5.13 5.25 36 months 4.10 5.13 5.25 High Interest Deposit Bond from HSBC will also be suitable for people in the teenager and student lifestyle this is because students at university or post graduate students will be looking into saving money in high interest. There are a lot of different time scales they can invest for jus to suite them, whether it is 6 months or 3 years. This will be very appropriate because it will enable them to have a lot of money saved in the bank for when they leave university and preparing to start their own family. Task 8 Introduction In this task I have been asked to describe and explain in detail two investment products that will be considered appropriate for two contrasting customers at a given life stage. This will be people in teenager and student life stage and young families. Income Bonds from National Savings and Investments. Income Bonds provide the customer with a monthly income at a competitive variable interest rate, with no risk to their capital. Income Bonds from national savings and investments will be very suitable for young families because the people in this life stage will be doing post graduate work or finishing university. It will be very helpful because the income bonds will provide them with an additional monthly income. This will enable them to help out with your household outgoings, or to contribute to a few of lifes little luxuries. It is very convenient because they can choose to withdraw money when ever they want with no notice and no penalties. Income Bonds from national savings and investments will also be very appropriate for people in the teenager and students life stage. This is because people in this life style will be provided with an additional monthly income which will be very supportive for their day to day needs. It will be able to support them if their student loan has not been activated. It will also be very helpful for when they are about to leave university and preparing to live by themselves. Interest Rates Total Investment Gross rate pa AER Under à ¯Ã‚ ¿Ã‚ ½25000 4.45% 4.54% à ¯Ã‚ ¿Ã‚ ½25,000 + 4.70% 4.80% Gross is the taxable rate of interest without the deduction of UK Income Tax. AER (Annual Equivalent Rate) is a notional rate that illustrates what the annual rate of interest would be if the interest was compounded each time it was paid. Where interest is paid annually, the quoted rate and the AER are the same. The Baby Bond CTF account from The Childrens mutual The baby bond ctf account is stakeholder account for parents to save and invest their money for their kids for the later future in the governments way. This will definitely be the key characteristics of adults in the young family life stage. So that there is a chance for more potential growth, the baby bond account will be in a share-based fund. There are risks in doing this because the value of shares can go up and down, but the baby bond account is a long-term investment of 18 years so a big amount will be made despite the continuous change in the value to the shares. The minimum amount that can be paid in to start the account is à ¯Ã‚ ¿Ã‚ ½10 so it is easy and cheap to get started, and with all other contributions there could be a potential sum of up to à ¯Ã‚ ¿Ã‚ ½1200 and that is on top of the governments addition. The childs account is increased of its value by 1.5% The baby bond ctf account will be very suitable adults in the student life stage because it will be a great step to preparing for their childrens future it is a long-term investment of 18 years so a big amount will be made despite the continuous change in the value to the shares. The minimum amount that can be paid in to start the account is à ¯Ã‚ ¿Ã‚ ½10 so it is easy and cheap to get started, and with all other contributions there could be a potential sum of up to à ¯Ã‚ ¿Ã‚ ½1200 and that is on top of the governments addition. The childs account is increased of its value by 1.5% Total amount paid in (including à ¯Ã‚ ¿Ã‚ ½250 voucher and à ¯Ã‚ ¿Ã‚ ½250 at age 7) Possible value of Baby Bond(r) Stakeholder account in 18 years time Based on 5% growth each year Based on 7% growth each year Based on 9% growth each year à ¯Ã‚ ¿Ã‚ ½0 à ¯Ã‚ ¿Ã‚ ½500 à ¯Ã‚ ¿Ã‚ ½821 à ¯Ã‚ ¿Ã‚ ½1,090 à ¯Ã‚ ¿Ã‚ ½1,440 à ¯Ã‚ ¿Ã‚ ½10 à ¯Ã‚ ¿Ã‚ ½2,660 à ¯Ã‚ ¿Ã‚ ½3,790 à ¯Ã‚ ¿Ã‚ ½4,690 à ¯Ã‚ ¿Ã‚ ½5,840 à ¯Ã‚ ¿Ã‚ ½25 à ¯Ã‚ ¿Ã‚ ½5,900 à ¯Ã‚ ¿Ã‚ ½8,260 à ¯Ã‚ ¿Ã‚ ½10,100 à ¯Ã‚ ¿Ã‚ ½12,400 à ¯Ã‚ ¿Ã‚ ½50 à ¯Ã‚ ¿Ã‚ ½11,300 à ¯Ã‚ ¿Ã‚ ½15,700 à ¯Ã‚ ¿Ã‚ ½19,100 à ¯Ã‚ ¿Ã‚ ½23,400 à ¯Ã‚ ¿Ã‚ ½100 à ¯Ã‚ ¿Ã‚ ½22,100 à ¯Ã‚ ¿Ã‚ ½30,500 à ¯Ã‚ ¿Ã‚ ½37,100 à ¯Ã‚ ¿Ã‚ ½45,400 Task 9 Introduction In this task I have been asked to describe and explain three other financial services which might be appropriate to the likely financial needs of two contrasting customers. Income Protection from Royal Bank of Scotland Income protection is designed as a safety net to keep people financially healthy just in case of a long- term illness or accidental injury which could play havoc on peoples finances. I believe that this will be very appropriate for people in the mature household life stage. Simply because their life is moving at its peak so they will definitely need some sort of back up if something was to go wrong. It could help maintain your familys standard of living, providing a monthly income to help pay your mortgage, other debts or household bills. The plan is very flexible they can decide on how long they want their income to be paid if they are off work. It can be until any age from 50 to 65. The monthly income they receive under the plan is guaranteed until they are fit enough to back to work or until the plan end for example if they intend retirement age. Income protection will also be suitable and appropriate for people in the post education and pre families life stage. This is because they will be on the way up to starting their life on their own. So it will be vital for them to have some sort of safety net. This is because if there is no form of financial back up it will leave the individual in a very critical position. Travel Insurance from The Royal Bank Of Scotland Travel Insurance is designed to cover medical expenses, money invested in non-refundable pre- payments, and other losses that happen while travelling either within ones country, or internationally. The royal bank of Scotland will be very suitable insurance company for someone to choose because it is one of the biggest travel insurance companies in the UK so they have a big reputation to give their customers confidence in them. Travel insurance will be suitable for people in all life stages simply because everyone should be insured when they are away on holiday. But I think this will suite people in Mature households more because they will probably have the most expensive assets because they are one of the most families settled in their life. Travel insurance will be very suitable for people in post graduate and pre families life stage because people in this life stage are very active and tend to travel a lot so it will be very important for them to be insured whilst on holiday. Car Insurance from The Royal Bank Of Scotland Car insurance is insurance purchased for cars, trucks, and other vehicles. Its primary use is to provide protection against losses incurred as a result of traffic accidents and against liability that could be incurred in an accident. Car insurance from The Royal Bank Of Scotland is very good. They provide a courtesy car for the customer when there car is being repaired. If the customer has home insurance with the royal bank of Scotland they will save 15%. Although car insurance is vital for people in all life stages, this service will be very appropriate for people in mature household because of all the benefits that come with it such as the 15% discount that comes with the insurance. That is only available to people with home insurance, and that will be something that mature households will have. [T1] I do not know how to work out an example

Small businesses Essay Example

Small businesses Essay Example Small businesses Essay Small businesses Essay Small businesses can be defined as those businesses which have a small number of employees. In the United States, the legal definition of small implies less than 100 employees. The SBA (US Small Business Administration), which is an independent agency of the US government that protects the legitimate interests of small businesses, specifies size standards for a small business that pertain to its affiliation, number of employees, revenue etc. and are used to determine whether a business is small or not. 1Common examples of small businesses are restaurants, solicitors, hairdressers, accountants, tradesmen, photographers, guest houses etc. There are various forms of businesses; sole proprietorships, partnerships, corporations. Therefore it is important to know why a particular business is registered as a small business or otherwise, and what are the advantages, drawbacks, and legal implications of these decisions. Scott Holmes (2001) opines that the motivations for Small Business Owners are Economic factors as well as Social/Psychological factors. He goes onto argue that small firms can maximize relative returns by minimizing key costs, especially the cost of monitoring managers, who in traditional firms, are separated from the owners. It is obvious that in order to sustain this very advantage, small firms do not grow beyond a certain size.2There are various advantages of operating a small business. The most obvious advantage is that a small business can be initiated at a low cost, and it can be managed on a part-time basis as well. Compared to large businesses, small businesses take lesser time in reacting to customer complaints, and thus the small size enables them to give better customer service. This aspect is missing in large corporations, which, due to their elaborate chain of command, take a long time in reacting to customer complaints and objections. Karen, 2000, states that large firms often don’t seem to care whether the customer does business wit h them or not. On the other hand, the small businesses can win the day because they know the customer personally and value their relationship with the customer, and show them you care by offering sincere personal attention. In addition to that, decisions in small businesses are not subservient to a lengthy chain-of-command, therefore the decision making process is much faster in a small business, making them more flexible in managing new product decisions, inventory, billing policies etc.3 Operating a small business also has a distinct advantage in that it enables the owner to take more risks, and to more quickly to satisfy a newly emerging market niche. This makes a small business particularly well suited to internet marketing.However, the advantages not-withstanding, a small business owner also has to take care not to fall into several traps; the most important of which is undercapitalization. According to a rule of thumb, the owner must have available with him funds equal to the projected revenues of the first year of business plus the expenses for that period. Not meeting this requirement might result in the owner being liable for the business debts in case of bankruptcy. According to SBA, poor management is the major reason most small businesses fail, followed by ill-advised financing. The financing should be a balanced mix of equity and debt financing, based on the ratio of equity to debt for the firm.4Sole proprietorships are a form of business where the legal existence of the business is not separate from the owner himself. According to IRS, a sole proprietor is someone who owns an unincorporated business, including an LLC, by himself. 5 Thus, the rules of limited liability do not apply, and the owner himself is liable for the companys debts. Technically speaking, there can be only one owner of a sole proprietorship. This is the type of business entity to which the least amount of government regulations apply. Over 80 of the small businesses in the US operate as sole proprietorships.6 On the other side of the bargain, the owner faces a challenge in raising finances as a sole proprietorship cannot issue shares. And as the business grows, more and more owners look to convert their businesses into other types of business entities.To understand the taxation and legal consequences of sole proprietorships, it is important to note that all the profit made by the business entity is treated as the income of the owner. Thus the form 1040 of the IRS (Internal Revenue Service) is used to report the income and expenses of the business. The profit and loss information of the business is filled out in Schedule C, which is attached with form 1040. The sole proprietors are required to pay a Self-Employment tax on their profit if it exceeds $400. This tax is equivalent to 15.3% of the net profit made by the business. The form Schedule SE is required to be filed for this purpose. The Self -Employment tax is apart from the income tax which has to be paid separately on the combined income of the owner.7 Sole proprietors are required to pay quarterly tax liabilities to the state and federal government. Legitimate business expenses can be deducted from the income while calculating the taxes.8According to the definition of IRS, a Partnership is the relation between two or more persons who join to carry on a trade or a business. Although a written partnership agreement is not a legal obligation, but it is generally recommended to formalize the business relationship, specifying the profit sharing, business contribution of the partners etc. The liability issues in a partnership are similar to those of a sole proprietorship, but an added element here is that a partner is not only liable for the business debts and liabilities, but also for the business-related conduct of his other partners. Generally the profit sharing is based on the percentage of ownership of a particular partner.9The taxation issues in a partnership are also similar to that of a sole proprietorship. The income of a partner is not considered to be separate from his personal income. The income is taxable in the year its earned. The partnership is required to file annual information return to inform the IRS about its income, losses, etc. But the partnership does not pay income tax. Instead, the profits (or losses) are passed through to the partners and they include this amount on their respective tax returns. The partners submit Schedule K-1 (Form 1065) along with the Form 1065. The individual partners who are liable for income tax and self-employment tax may file Form 1040.10A Corporation is significantly different than the two types of business entities discussed earlier. It is created under state law, and is a complete business entity separate from its directors and shareholders. Thus, the corporation continues to exist even after the founders pass away, or the shareholders transfer their shares. The main benefit that the shareholders gain fro m corporations is Limited Liability, i.e. they are shielded from the business obligations to its creditors even if the business goes bankrupt. There are various types of Corporations. The type under discussion here is the C Corporation (S Corporations are discussed in the next section).11Corporations are treated as C Corporations unless they are approved as S Corporations. The C Corporation pays taxes under the Subsection C of the tax code. A C Corporation is under obligation to file an annual tax return. The taxable income consists of the Retained Earnings and the dividends paid to the shareholders. Corporations also involve more government regulations and red tape than the earlier discussed business entities. They are also required to pay franchise taxes (which S Corporations are exempted from). The bane of double taxation is also attached with corporations as Corporations pay income tax on their earnings, and furthermore the shareholders are required to pay income tax on the divi dends that they receive from the corporation.12An S Corporation is a corporation that makes a valid election to be taxed under Subchapter S of Chapter 1 of IRS (Internal Revenue Code). In other words, an S Corporation is a standard corporation that has a special tax status elected by the IRS.A short overview of how the taxing system in S Corporations works is as follows. The S Corporation doesn’t pay corporate taxes on its profits. Instead, the shareholders who hold distributive shares for the Corporation, pay the income taxes on their proportionate income. This payment must be done irrespective of whether the shareholders receive distributions from the S Corporation or not.In order to form an S Corporation, the following conditions must hold: the company must be an eligible entity (a domestic corporation, LLC or partnership), it should not have more than 75 shareholders, all the shareholders must be American citizens, it should have only one type of stock and the profits and losses to the shareholders should be proportionate to their share in the business.13If the business meets the above stated requirements, the shareholders of the business can file the form 2553 of the IRS: Election by a small Business Corporation, in order to be taxed under Subchapter S.14 This form must be signed by all the shareholders of the business. If a corporation that has been elected as an S Corporation ceases to fulfill one of the above stated conditions, i.e. its shareholders exceed 125, or it acquires a foreign shareholder, then its status as an S Corporation would be rescinded and would be treated as a regular C Corporation.Before moving on to discuss the taxation issues in detail, it would be appropriate to consider the pros and cons of having an S Corporation. The biggest and most obvious advantage of having an S Corporation is the tax advantage. The profits (and losses) of the S Corporation pass through to the owner, as is the case in sole proprietorships, partnershi ps and LLCs. Thus the S Corporation itself doesn’t pay any taxes. This means there is no double taxation. Also, when the business is sold, the taxable gain on the sale of business is less than what it would have been if the business was operating as a regular corporation. Another positive of S Corporations applies to a new business which has lots of expenses and losses. In a regular corporation, these losses get locked up within the corporation, but in an S Corporation, these losses are offset against the owners personal incomes, enabling them to write off start-up losses. Another benefit of operating an S-Corporation is that it offers limited liability protection. Although the liability protection is not as complete as that in a corporation, it is still better than that in sole proprietorships and partnerships. Other advantages include less frequent auditing for S Corporations, certain business expenses being tax-deductible, and customers perceiving an S Corporation as a mor e professional body than sole proprietorships and partnerships.But along with the above stated benefits, an S Corporation also has some drawbacks. The S Corporation is limited to issuing only one type of stock, i.e. distributive stock. Thus the business has less control over the company and the stock value is also limited.15In order to grow rapidly, a company needs to attract finances, and venture capitalists usually do not prefer to finance a company that has an unconventional tax setup, and has an upper limit of 75 on the shareholders. So if a business would need to attract venture capitalists, it would be better suited to a C Corporation. Secondly, although an S Corporation is exempted from paying corporate taxes, it still has to file annual tax returns. A liability in time also needs to be considered, as the S Corporation is still a corporation and has the requirement of conducting regular meetings and the maintenance of minutes of the meetings. An interesting downside to S Corp orations is with respect to the Tax Treatment of Benefits. If an employee is a shareholder as well, and the company provides health and accident insurance premiums, then the corporation deducts these items, but then these expenses are added to the gross income again.16As mentioned in the text earlier, S Corporations are generally exempted from paying corporate taxes, and for income tax purposes, the net earnings of the corporation are attributed to the individual shareholders, who pay the income tax in proportion to the share that they hold in the corporation. Thus when this income is distributed to the shareholders in the form of dividends, the shareholders are not required to pay income tax (the very concept of no double taxation). The interesting part here is that this arrangement gives the shareholders an incentive to enter into arrangements with the corporation to treat their incomes as dividends rather than treating them as compensation for services. This would result in the s hareholders paying lesser taxes.In this scenario, the position that the IRS holds is that if the corporation pays a shareholder in the form of dividends, for the services he performed for the corporation, these dividends would really be considered as wages paid to the employee, and not as dividends. Thus they would be taxable under FICA. This position of IRS holds weight as it has been upheld by the courts. E.g. in Joseph Radtke, S.C. v. United States, 1990, a lawyer was the only shareholder of an S Corporation, and was paid $18,225 as dividends in 1982, and no amount as wages for the services that he rendered for the organization during that period. The court ruled that the payment was in fact wages, and came under the tax bracket under FICA and FUTA.17Another case serves to highlight this issue, Spicer Accounting, Inc. v. United States. This case involves an accountant who was simultaneously the President, treasurer and Director of an S Corporation. There was no formal employment agreement between him and the corporation, and he offered his services to the organization free of cost, but at the same time, using his status as stockholder, withdrew dividends. The Court ruled in favor of IDS, and declared that the dividend earning was in fact remuneration for the services he performed for the S Corporation, and therefore subject to FICA taxes. 18There are several other such cases too, but the above two cases provide us enough proof that there exists a precedent for treating dividends paid to employees of an S Corporation in return for their services to the corporation, as wages (or compensation of services).19That brings us to the next logical question: What is the right amount of compensation for an S Corporation Employee? The US Tax Court opinion of 2001 does provide an insight into this very question, but it is not a binding precedent as it was unpublished, but tax advisors agree that it can be used as reliable guidance.20The court cites one case in particula r. The case deals with a CPA, Wiley Barron, who created an S Corporation to practice public Accounting in Arkansas. He was paid a large chunk of the profits by the firm, but only $2,000 of the amount, paid during one quarter, was treated as taxable compensation. IRS intervened, citing Internal Revenue Code Section 3121(d), which states that a corporate officer is an employee21. Thus, it came out that Mr. Barron was the only CPA at the company and was providing full-time service to the company. Compared to that, the amount of compensation that he was being paid was not appropriate. The court thus ruled in favor of IRS, declaring that Mr. Barron was using the S Corporation to avoid paying employment tax. Based on several variables, the Court decided that reasonable compensation for a CPA in Arkansas for the relevant years was in the range of $45,000 $49,000.The case of Tribune Company is also illustrative of this phenomenon. Sam Zell took advantage of a loophole in a minimum wage bil l, and thus ended up paying zero income tax, post-buyout, on Tribune. He combined the S Corporation and the ESOP (Employee Stock Ownership Plan) and thus turning Tribune into an S Corporation completely owned by this ESOP and paying no taxes. The rule that Zell took advantage of here, is that like pension funds, an ESOP pays no taxes on its income. This provision was part of a minimum wage increase bill that was passed by the Congress 11 years ago.22To avoid complications and to stay within the legal limits prescribed by the government and the IRS, Milani and Wittenbach, 2005, have the following suggestions to minimize the probability of an IRS objection: Develop a comprehensive wage policy and compensate all employees with respect to that policy; while setting a compensation level, consider the following factors: qualification of employee, scope and extent of work, nature of business, financial implications of the business, market rates. By documenting these wages, the company woul d have a strong defense that the payments paid to shareholders are not wages, but dividends.23In conclusion, it can be said that every business professional should make the important choice of the business format after carefully discussing the pros and cons with their lawyers and tax professionals.

Knowledge Management Essay Example | Topics and Well Written Essays - 3000 words

Knowledge Management - Essay Example Eventually, it becomes vital to identify ways of sharing knowledge across different location, projects and practices. At MindTree, the role of communities is to reflect the socio-technical approach of Knowledge Management. There have been some theories and models behind the successful implementation of knowledge sharing and collaboration at MindTree. One of them is the Community Maturity Model. Brief description of Community Maturity Model is mentioned in subsequent paragraphs. Community Maturity Model This model has been developed by Raj Dutta. Dutta has established this model to create a unified vision for communities in order to pursue collaboration and knowledge sharing. Therefore, the primary purpose of this model is sharing among people. Personal development and learning are not the primary objectives of this model, only sharing among people is. Despite of such profound importance, this model is not much applicable because its ramifications are too unpredictable. According to D utta, another important level of maturity after sharing is building competency. Competency building is referred to as identifying an area in which the organization can excel as compared to its other activities. In the case of MindTree, competency building lies in individuals when they learn from one another. The third important level of maturity is Capacity Building. Capacity building is referred to as building relationships between community and other business entities. At this level, communities have a direct impact on software, existing processes and organizational activities. Role of Champions in Community Practices Forming communities at MindTree is relatively easy. Communities are generally a group of people working together passionately and sharing knowledge. Developing communities also help people for their self-development as well as business development. Communities are represented by champions. In order to avoid being dependent on a single person, all communities must hav e multiple champions. The role of champions is vital for communities. All the champions must bring people together and the goals of all the members of community must be aligned. The role of champion is very challenging as it requires persistently motivating and energizing people. Therefore, champions must possess leadership skills as well. After reviewing the basic strategies of MindTree, it can be noticed that the primary focus of MindTree is on knowledge sharing and collaboration. The company has strived hard to formulate plans at strategic level so as to improve the overall performance of individuals. MindTree believes that sharing information and knowledge reduces the level of fatigue and stress and teamwork can be productive if implemented in an adequate manner. The role of champions for every community is also very substantial as champions are the one who needs to lead and direct the entire community. (Word Count: 512) 2. What are the key elements of MindTree’s Knowledg e Management System? How do these elements link together? How effective is the system? Knowledge Management is another activity which helps in contributing and supporting the values and culture of MindTree. Experts differ in their explanation of Knowledge Management but typically they all agree that knowledge management system requires activities, technologies and processes which aim to organize, acquire, share, apply

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

Value of philosophy - Essay Example According to this author, a true philosophical contemplation finds its meaning in the enlargement of not self in everything in the universe. The mind Russell believes that although philosophy does not enhance our physical wellbeing, it has a major role in human kind of enriching our mental lives mainly through the mind, which determines the way we relate with the immediate environment. However, the enrichment that Russell refers to does not provide all the answers to all the philosophical questions but instead offers a variety of suggestions on how to tackle these problems (Bertrand Pg 26). Russell insists that the mind that views philosophy as a conformation of freedom and impartiality will always strive to protect and preserve these values. This kind of mind will view its purpose and desires as path of the whole. This kind of mind in reference is a free mind that fights for justice and freedom hence the analogy and linkage of many philosophers with histories of freedom fighting and involvement in fighting for human rights. Russell believes that the enlargement of human mind enlarges objects and human mind that is responsible for freedom and liberation. According to Russell, philosophy gives a wider range of suggestions on how to deal with feelings of uncertainty and fear. For example, through philosophy it is easy to make unfamiliar things to look familiar (Bertrand Pg 27). According to Russell, unless we enlarge our mind to include other perspectives of the outer world, we remain like garrison in a blue guard fortress with no freedom. Such life has no peace and is involved with constant strives between desires and powerlessness of will. Philosophic contemplation does not divide the universe into sections but instead join it into one single camp. Russell insists that we must continue to seek brain enlargement by operating on the desires of our mind (Bertrand Pg 27). However, we cannot find this enlargement if we take the mind as it is but must make our minds open and free from alien impossibilities. Self-assertion is an example of philosophic speculation and this hinders mind enlargement. Russell also argues about the separation of the study of human mind from the field of philosophy. He disagrees with those scientists who have included the study of human mind as psychology. However, he still maintains that philosophy is still embedded in sciences and more so in the study of human mind. Although human mind plays a greater role in defining philosophy, religion is important in conceptualizing the meaning of philosophy. Russell questions the value of good and evil in the planet and wonders if good and evil is only important to humans or to the whole universe. Philosophy is therefore very valuable and whoever lives a life without a tincture of philosophy undergoes duress and a life of imprisonment. Such individuals are also affected by prejudices of common sense. Such people views the world as a definite, finite, obvious, common and with no reason unfamiliar. The view of philosophy has many wrong conceptions therefore philosophy strives to search for knowledge. The knowledge sought gives the unity of system and body. This knowledge is helpful in examining the grounds of convictions, prejudices, and beliefs. According to Russell, the quest for philosophical knowledge continues to face many challenges due to broken units and sciences that have derived their sense

The Scarlet Letter as a Love Story Essay Example | Topics and Well Written Essays - 1500 words

The Scarlet Letter as a Love Story - Essay Example In much the same way, Nathaniel Hawthorne’s penultimate novel, The Scarlet Letter, has continued to evoke a level of controversy among scholars and casual readers alike. The underlying root of this controversy is whether or not this particular novel can in fact be described as a love story between Hester Prynne and Arthur Dimmesdale; the two main characters around whom the novel focuses. Accordingly, in seeking to analyze this particular question and providing a level of textual support to serve as evidence with regards to the stance of this particular student, the following discussion will be concentric upon promoting the idea and understanding that even though many other themes exist within this particular novel, an unmistakable and easily denoted reality is that the action of the entire piece is predicated not upon lust, betrayal, adultery, or public censure; rather, it is predicated upon a disarmingly complex yet simple love story between the two main characters.... Ultimately, the author, Hawthorne, was somewhat disquieted about writing such a simple love story. In this way, the introductory quote that is referenced above helps to serve as something of a preliminary apology with regards to presenting such a complex love story within the guise of something seemingly different. Further on in the story, Pearl asks a telling question that turns into something of a prophetic comment which further helps to prove the underlying nature of the novel as a love story. Says Pearl, â€Å"Mother,† said little Pearl, â€Å"the sunshine does not love you. It runs away and hides itself, because it is afraid of something on your bosom. . . . It will not flee from me, for I wear nothing on my bosom yet!† (Hawthorne 99). The clear level of understanding that can be had with regards to this specific quote is the fact that even though it is not clear whether or not Hester waits for the father of Pearl to come back into her life, Pearl seems to understa nd perfectly well that this is the case; equating â€Å"the sunshine† with Dimmesdale; retreating, hesitant, uncertain, and fearful because of the stigma that the adulteress has upon her character. In this way, even though a clear determination at this point of the story does not reveal whether or not the entire tale should be considered a â€Å"love story†, Pearl’s prophetic level of understanding seems to leave no doubt with regards to the true nature of the novel. Similarly, another quote that helps to solidify the understanding that the novel of the Scarlet Letter is in fact a love story is with regards to the following quote. Says Hawthorne, But Hester Prynne, with a mind of native

Strategic Analysis of Walmarts Advantages in its Environment

Strategic Analysis of Walmarts Advantages in its Environment Strategic Analysis is to analyse Walmart macro-environmental and micro-environmental. The analysis methods use such as PESTLE Analysis, Porters 5 Forces Analysis, SWOT Analysis and Competitive Advantage to analyse the corporate business environment. PESTLE Analysis PESTLE is the structure to investigate the volatile business environments in which Walmart operates by discovering the forces that effecting the corporate operation. Political and Legislations Environment As Walmart operates in the global scale; the performances of the corporate are influenced by the political and statutory law of the country invested. For instance, the employment statutory laws of a country are to ensure investors provide varieties of jobs to its population at large from flexible, locally based low paid jobs to centrally located high pay jobs (Balchin, 1994). Besides that, the go global strategies has its impacts on the local retails market when a giant company such as Walmart penetrate into the country it causes local retails shutting down due to incompetent to compete in term of its predatory pricing policy (Basker, 2007). The author indictment that Walmart paying low salary to its employees; to protect its competitiveness in its retails market but it leading to high turnover rate of its employees. Economical Environment For the past four years, the world facing global economic crisis which leading to high unemployment, increases of fuel prices, and losing consumer confidence  [1]  . However, the crises assist Walmart to sustain its retail businesses even though the fuel price escalating above US$ 100/barrel because consumers becoming price conscious on seeking products value for money. The strategic uses by Walmart Canada: 1. sharing the truckloads with the suppliers to ensure all fully loaded, 2. switching manual stocking shelves to automatic tilted shelves which will deliver next item to the front, and 3. lowering the lighting and increasing the roof insulation, (The Star, 2008), as to reduce its operating costs. Socio-Cultural Environment As Walmart go globalise, the corporate has to adapt the changes of social and cultural differences because it can easily affect employees morale in workplace and consumer experiences. Based WPP (2008), Americanisation is not easy to establish in foreign countries because of the heterogeneity of perception, language, cultural and needs especially in European, Asia-Pacific and Africa (Sorrell, 2008). Environment and technological Environment Environmental and technological plays a significant part in the Walmart products/services developments because it improves customer satisfaction and perception in their shopping experience and observation. Besides that Walmart is one of the fastest retailer to adopt latest technology in their business operation. For example: radio frequency identification technology (RFIT) which reduces its out-of-stock goods with this technology (Wilbert, 2006) and using thin film solar technology to boost its renewable energy uses which could produce up to 22.5 million kilowatts hours of clean energy annually (Walmart Stores Web Site, 2010). Besides that, Walmart adopt eco-friendly products such recycle bottle, shirt made of transitional cotton and sustainable coffees (Walmart, 2008). Porters 5 Forces Analysis In order for Walmart to find an effective source competitive advantage; the Porters five forces analysis is uses to analyse its market environment to sustain and develop its customer foundation and ensure a profit (Collins, 2010). Threat of substitute goods and services Threat of substitution in supermarket/grocery store is lower on foodstuffs but moderate to high on non-foodstuffs. In food retailing industry the main concern is the convenience store and the greengrocers which easily substituted by the consumers. However, it does not position a direct threat to Walmart because their market size relatively smaller and compare to Walmart they are no match in term of the corporate cost leadership generic strategy and its predatory pricing of everyday low price which make difficult for a small retail chain to compete (Hayden et al., 2002). Nonetheless, Walmart is always looking for economical substitutes on the market and to retain its loyal customers. Threat of entry of new competitors In supermarket/grocery stores threat of entry is minimise as it required a lump sum amount of money to build up brand name and competitiveness. However, the renowned leading food retailers have already secured its brand name globally such as Tesco, Carrefour, Aeon, etc  [2]  . Besides that, in order Walmart to set up a new supermarket it required extensive time and resources before the proposal authorised by the government. In addition, government protectionism  [3]  on local goods, suppliers and retails industry might create unforeseeable threat of entry into new market. Intensity of competitive rivalry Rivalry in supermarket/grocery stores is commonly high due to direct competition against local supermarket, multinational supermarket such as Tesco, Carrefour, Aeon, etc. These retailers will compete against pricing, products, promotions and expansion of its stores occasionally (Duff, 2010). During post global recession 2010, Walmart profit boost 3.6 percent during second quarter from its cost cutting and strong global market growth in China, Brazil and Mexico (DInnocenzio, 2010). In additional, the reason Walmart growth is due its emphasis on foodstuffs which helps the corporate survive during recession period compare to others retailers which more emphasis on non-foodstuffs products suffer loses (Gregory, 2009). Bargaining power of buyers The buyer power is moderately high because goods especially the foodstuff in the retails can be easily substituted with other brand name since the switching cost is relatively lower. Besides that, most customers are price conscious which easily draw away by low prices since price can be easily compared and determined before purchase is done (Gregory, 2009). Bargaining power of suppliers The suppliers power is quite low because suppliers are always concern of losing its contract with giant retailers such as Walmart. Besides that, Walmart easily obtain lowest goods price from the suppliers since Walmart is the leader in retail industry (Chandran, 2003). SWOT Analysis SWOT analysis illustrates Walmart corporate strengths, weaknesses, opportunities and threats Strengths Competent supplier chain management practices. To ensure Walmart products price remain competitive; Walmart carry out few techniques to lower its products costs as shown below. Obtaining goods directly from the producers; to reduce intermediaries costs. Owning private transportation system; to reduce transportation costs. Practicing cross docking technique where goods obtained from producers delivered directly to customers and by this the corporate could reduce the handling, operating and storage costs. Providing the latest IT and communications systems; to ensure effectiveness of tracking sales and stocks besides that it helps the corporate to reduce unproductive stocks. (Chandran, 2003) Predatory Pricing. Walmart goals are to ensure all goods remain lower pricing. According to ICMR (2004) mentioned that Walmart goods is 20 percent lower compared to its competitors. Besides that, the corporate manage to boost its price-conscious customers loyalty based its pricing strategy Weaknesses Unable to adapt to different countries. Walmart penetration into China and Germany is a failure as the corporate incapable to recognise the macro-environmental differences in those countries. Walmart China  [4]   Walmart is facing difficulty in market protectionism and its regionalism governmental across China. Besides that, the government is also eyeing and controlling foreign retailers movement- to ensure Chinese goods are being sold in the market, and cause Walmart unable to monopolise its supply chain and business prospect leading to higher operating costs (Huffman, 2003). Walmart Germany  [5]  6 Walmart failed to comprehend with the local culture as the CEO (Rob Tiarks) ignore to learn German language and make English as official language in the management level (Knorr Arndt, 2003); Its action has offended their Germans employees which shows that the corporate are lacking of management skills and intercultural competence in foreign countries. High law suits against the company. According to Knorr Arndt (2003) remarks said that Walmart Germany has against the Germany laws and regulations by disclosing financial information, predatory pricing by selling below its cost price and failed to show shareholders its business activities. It is a serious matter where Walmart ignoring the key principles of its globalisational strategies. Opportunities Unemployment could be reduced as Walmart expanding its market. It will help to reduce unemployment rate and provides over 22,000 jobs locally and internationally (Walmart, 2009). Increase in consumer purchasing. Walmart as Everyday Low Price retailer could attract lower and middle income families for its cheaper goods price especially in developing countries in Asia, Latin America, Eastern Europe, and Africa. Threats Walmart facing bad publicity of their stagnant salary which never increases even though the corporate is earn profit. Based on UFCW statements saying that the salary paid unable to sustain a family, and besides that the organisation challenge Walmart of their worker rights, equal opportunities and corporate responsibility (UFCW Web Site, 2009) The competitors threats facing by Walmart is Kmart, Target, Home Depot, Kroger, Aeon, etc. Competitive Advantages Based ICMR (2003)  [7]  , Walmart has the most outstanding supply chain management with the use of the latest IT and communications system; e.g. barcode and RFIT to track sales and stocks inventories. Secondly, Walmart enjoy the benefits of low transportation costs as the corporate own the transportation system; to reduce costs. Thirdly, Walmart benefits from its bargaining power in buying large quantity of goods; to ensure the price remain competitiveness where the corporate can provide higher discounts to its customers. Lastly, the uses of the cross-docking system which is focus on the demand chain where goods only deliver upon customer request e.g. Walmart E-tailing (Chandran, 2003). [Words Count: 1486/1500]

Harrison Bergeon Vs. 1984 :: essays research papers

Harrison Bergeron vs. 1984   Ã‚  Ã‚  Ã‚  Ã‚  Harrison Bergeron and 1984 were both based on a similar concept. This concept is creating peace by limiting and controlling the population. In George Orwell’s “1984';, it was done through brainwashing and doublethink. In Kurt Vonnegut’s “Harrison Bergeron';, it was done by limiting everyones abilities until everyone is equal in all ways. Each author used class systems, nature, and society to portray their negative utopia.   Ã‚  Ã‚  Ã‚  Ã‚  Class systems played a more important role in 1984, than they did in Harrison Bergeron. In 1984, there were three classes. The highest class, the Inner Party, controlled everything. They controlled what the people saw, heard, and read, and even what they thought. The middle working class, or the “regular'; party, did all the work that the inner party wanted to be done, in order to keep the population, including themselves, in control of everyone. The third, and lowest, class is the proles. The party does not even watch or care about the proles, because they are not important, and have no power at all. Harrison Bergeron apparently had everyone equalized through handicapping all those with extraordinary abilities. The classes were the same as they are in modern America, only with handicaps.   Ã‚  Ã‚  Ã‚  Ã‚  Human Nature was repressed in both stories. It is human nature to express one’s talents in some way. In 1984, any kind of personal expression was thoughtcrime, and would cause the guilty individual to be taken to the ministry of love, and brainwashed. In Harrison Bergeron, every person was unable to display any kind of superiority over anyone else. The strong were weighted down, and the beautiful were forced to wear masks. No one was able to display any kind of talent even if they wanted to do so.   Ã‚  Ã‚  Ã‚  Ã‚  Society had almost the same roles for men and women in both stories. In 1984, men and women were both treated the same, as mindless members of the party. They both had the same jobs and duties, and they both had the same rules. In Harrison Bergeron, men and women seemed to be treated the same as they are in modern society.   Ã‚  Ã‚  Ã‚  Ã‚  The search for justice actually contributed to the creation of both societies. Both were created in the hopes of eliminating crime and injustices by controlling the population. In 1984, there was only one crime, and only one punishment. If you commited thoughtcrime, you would be taken to the ministry of love and brainwashed, until you were fit to be released back into society.

Part-Time Job While Studying Essay

The modern world now provides students with the best condition for studying. Therefore, some people suppose that they need not to have a part-time job any more but try to focus on their study. On the other hand, the rest of them argue that a part-time job still plays an important role in forming the necessary experience for students. To the best of my knowledge, despite the current comfort in education, it is still essential that students should take part in a particular part-time job for many reasons. To begin with, many peoples present the reasons for the unnecessity of having a part-time job among students. The first point is that a part-time job can make students spend less time on their study, thereby harming their study result. Another reason is that the part-time job environment is often not professional and safe, which can put students at the risk of being defrauded. The final reason is that taking part in a part-time job will cause more pressure to students, consequently affecting badly their health. However, in my opinion, such reasons above are still one-sided and not so persuasive. Coming back to the first point above, we can agree that the completive world now makes students become more sensible that they used to be. In fact, most of the students know that their study in school must be the main means of providing them with a good future, not their part-time jobs. In the second reason presented above, the unsafe environment of part-time jobs, on one hand, maybe make students defrauded, on the other hand, give the students valuable experience about real life. Therefore, they will certain the more successful people in the future than the ones who do not participate in a part-time job. Finally, suffering from the part-time jobs for a certain time can help students find the best way of reconciling between their study and working. Surely they will know how to draw an effective schedule for their lives. Finally, in favor of the people arguing the necessity of having a part-time job, I can give some reasons for my point of view. To begin with, a part-time job will give students more experience about life which they cannot earn at school such as the skills of communication, how to be a confident person. This can help them become more mature and easier to be successful in future. The second reason is that students can widen their relationship by participating in a part-time job. In fact, the more friends they have, the more probably they will deal successfully with the obstacles in life. Last but not least, taking part in a part-time job can help students earn more to support their study. Consequently, they will be less dependent on their parents and believe more in their own ability. To sum up, it is quite essential that students should have a part-time job while studying. This will give them many valuable lessons which they cannot find in any academic school. In fact, we just study in school in the first twenty years of life, but we study in real life during the rest of our lifetime.

Fantastic Mr Fox Quotes

'Fantastic Mr Fox' Quotes Fantastic Mr Fox is a trickster-adventure story by British author Roald Dahl. Mr. Fox is (of course) fantastic, he faces seemingly impossible odds to survive. His shenanigans become legendary as he outwits three devilish rich men in order to steal food. The book was turned into a popular movie of the same name in 2009 with George Clooney voicing the lead character. Both the book and the movie have been popular with children.   Quotes from Fantastic Mr. Fox Down in the valley, there were three farms. The owners of these farms had done well. They were rich men. They were also nasty men. All three of them were about as nasty and mean as any men you could meet.- Roald Dahl, Fantastic Mr. Fox, Ch. 1Boggis and Bunce and BeanOne fat, one short, one lean.These horrible crooksSo different in looksWere nonetheless equally mean.- Roald Dahl, Fantastic Mr. Fox, Ch. 1In the hole lived Mr. Fox and Mrs. Fox and their four small Foxes.- Roald Dahl, Fantastic Mr. Fox, Ch. 2I can smell these goons a mile away. I can smell one from the other. Boggis gives off a filthy stink of rotten chicken-skins. Bunce reeks of goose livers, and as for Bean, the fumes of apple cider hang around him like poisonous gasses.- Roald Dahl, Fantastic Mr. Fox, Ch. 3One of them shone a flashlight on the hole, and there on the ground, in the circle of light, half in and half out of the hole, lay the poor tattered blood stained remains of ... a foxs tale.- Roald Dahl, Fantastic M r. Fox, Ch. 3 It will never grow again, said Mr. Fox. I shall be tail-less for the rest of my life. He looked very glum.- Roald Dahl, Fantastic Mr. Fox, Ch. 3What we need on this job... is machines... mechanical shovels. Well have him out in five minutes with mechanical shovels.- Roald Dahl, Fantastic Mr. Fox, Ch. 5The machines were both black. They were murderous, brutal-looking monsters.- Roald Dahl, Fantastic Mr. Fox, Ch. 5I understand what youre saying, and your comments are valuable, but Im gonna ignore your advice.- Roald Dahl, Fantastic Mr. FoxBadger: The cuss you are.Mr. Fox: The cuss am I? Are you cussing with me?- Roald Dahl, Fantastic Mr. FoxI, therefore, invite you all, Mr. Fox went on, to stay here with me forever.- Roald Dahl, Fantastic Mr. FoxForever! they cried. My goodness! How marvelous! And Rabbit said to Mrs. Rabbit, My dear, just think! Were never going to be shot again in our lives!We will make, said Mr. Fox, a little underground village, with streets and houses on each side - separate houses for Badgers and Moles and Rabbits and Weasels and Foxes. And every day I will go shopping for you all. And every day we will eat like kings.- Roald Dahl, Fantastic Mr. Fox I think I have this thing where everybody has to think Im the greatest. And if they arent completely knocked out and dazzled and slightly intimidated by me, I dont feel good about myself.- Roald Dahl, Fantastic Mr. Fox

Ozymandias Analysis Essays

Ozymandias Analysis Essays Ozymandias Analysis Paper Ozymandias Analysis Paper The overall meaning of Percy Bysshe Shelley’s poem â€Å"Ozymandias† is that no one lasts forever; eventually even the greatest men die and are forgotten. Nature eventually conquers the tallest and most prosperous cities, leaving them colossal wrecks. The statue of Ozymandias, also known as the Egyptian Ruler Ramses II, was erected in Ramses’ own likeness in his honor, among other monuments. So, even though Ramses II was so powerful and recognized, he eventually became forgotten and abandoned. In Greek, Ozymandias can be broken down into two words: ozy and myndias. Ozy means air and myndias means king. Essentially, Ramses was the King of the Air, which can mean the King of Nothing, which shows his power is temporary. I think the author wants to show the fact that something that was once so powerful and looked upon, such as the King of Kings was, after a while, destroyed. Now, some statue, that he had had done for himself because he thought he was so superior, is destroyed, barely remembered and mocked. The voice of â€Å"Ozymandias† is said through what sounds most like the author, Percy Bysshe Shelley, since the first line says, â€Å"I met a traveler from an antique land.. The poem is written in whole sentences, but they are chopped up between lines using caesurae, which makes them slightly choppy but with a smooth overlay. The tone, to me, sounds slightly depressing and solemn, but that is understandable, since the poem is talking about how nothing lasts forever. Percy Bysshe Shelley wrote this poem in competition with his friend Horace Smith. Both poems have the same su bject, tell the same story, and make the same moral points. They also both had the same title for a while, but then Smith retitled his poem to another name.

Water Crisis in the Middle East Research Paper Example | Topics and Well Written Essays - 750 words

Water Crisis in the Middle East - Research Paper Example According to the World Health Organization, every individual requires 1000 cubic meters of water annually for proper health but many countries in the world cannot fulfill these requirements of water for its residents. The Middle East Countries lie top amongst this list (Sivakumar 2010, p25). An article published in the Gulf News in the year 2011 and written by Samihah Zaman further sheds light upon this crisis. The article explains that the water crisis would surge to greater levels and cause more trouble in the coming years and thus steps should be taken at the national and international levels to curb this problem and solve the situation (Zaman 2011). The Middle East Countries are in the center of a crisis of water shortage owing to the increased demand and reduced reserves and this should be tackled effectively to prevent the worsening of the situation. The gravity of the water crisis in the Middle East can be understood with the example of many countries in the region. The popula tion of Egypt is increasing at a fast pace and there is a rise of one million people in the country within every nine months. This raises the demand of water in the country. In Jordan, the situation has aggravated to a level where many towns in the country receive water only on one day in a week. Furthermore, the situation in the country is further worsened by the 60 percent loss of paper from the water pipes. Israel which has already levied taxes upon water consumption is also facing pressure owing to the increase in immigrants in the country. In Syria, the Euphrates River has been contaminated with pollutants and there has been a drop in the level of the river which has led the authorities to take measures like reducing the electrical supply and water to drink in major cities including Damascus and Aleppo. Thus, the scarcity of water in the countries of the Middle East has escalated (Inbar 1995, p234,235). The water crisis in the Middle East exists due to several reasons. The dry climatic conditions and the barren lands in most of the countries is one of the natural causes of the reduced amount of water resources. The other environmental cause is the climatic changes around the globe which have resulted in droughts and have made the scarcity in the region even worse. This has been accompanied with the boom in the growth rate of the population leading to a rise in the demand of water. Not only this, there has been an increase in the agricultural activities in the region as well as a surge in the tourism industry. Thus, the demand for water has greatly increased. Along with this, pollution has also increased in the Middle East and reduced regulations and checks have led to the contamination of water resources with pollutants coming from industries and agricultural sites. Thus, these factors have not only accounted for reduced quantity of water but the quality of the water supply has also been compromised (Selby 2003, p 25; Hamdy and Liuzzi 2005, p16). The wate r crisis in the Middle East is worsening and strategies should be implemented to overcome this grave problem. The most important measure which needs to be understood is the achievement of control over the growth rate of the population. This is because the natural supply of water in the region will not increase and the population rise would put further pressure. Thus it should be reduced. The next step should be the proper management of water through the building of reservoirs like dams, desalination plants and new pipelines so that the leakage is reduced (Selby 2003, p 26,27). Lastly, political stability is

The rational Essay Example | Topics and Well Written Essays - 1500 words

The rational - Essay Example The Internet is not only a source of learning but also a superb source of entertainment. The internet offers a wide range of recreational activities (Klapter et al, 2009:7). Considering the benefits attributed to the internet, a website to teach attributed aspects of colours has been launched. This website intends to teach the children aged 5 and 9 years. 1.1 A brief description about the website I have developed a website entitled â€Å"Learning Colours† for children. The website contains six pages and ten sub-pages. The â€Å"Home Page† introduces viewers to the Rainbow, which is essential in the learning process. I have provided my introduction in About Me page, though it has little concern with the children learning process. A Flikr video in Page 3 explains the steps essential for uploading and drawing colours on the website. On equal measure, Page 4 has multiple items that include the name and images of sixteen colour shades depicted with background music. Moreover , the fill in the blanks strategy, has been applied by providing incomplete names of colours to be filled by the children. Conversely, images have also been included in front of the specific colours for the curiosity and learning. Moreover, primary and secondary, as well as warm and cool colours have been depicted in this page. The other pages contain more colour attributive aspects such as colour mixing and rainbow colours among others. 1.2 My Teaching Methodology I intend to use my website as an additional source at the end of the class lecture, such that the children can be able to recall the activities learnt in this lecture. A website is easy to understand and beneficial for teaching in the modern era. Consequently, the depiction of images could be helpful in teaching the children about colours. This means that the children can learn about the objects and colours simultaneously through this teaching methodology (WHITTY, 2006:6). The children are required to access the relevant material through the portable tablets in advance, such that during the face –face meetings, a series of simple but interrelated questions about colours would be asked from the accessed materials. The activity relates to Piaget’s Cognitive Learning Theory, which submits to state that sequence of learning depends upon the development of cognitive abilities (SZIGETHY, WEISZ, & FINDLING, 2012). 2.0 Activities and Principles 2.1 Activities Accurate and powerful designs of the websites, according to NEILSEN (1994:7), carry profound significance in conveying the message and achieving the goals to be obtained through it. Keeping in view the same notion, I intend to introduce some alterations in the website in order to make the design schemes more attractive, powerful and resourceful. In addition, I intend to create a â€Å"learn with parents† page. This is because; it is a good indicator of children’s success when engaged by their parents. The learning process be comes easy when the parents help their children to go through the internet pages when helping them to do their assignment. (WHITTY, 2006:5). On equal measure, I intend to use the flickr group in evaluating the children’s work. In addition, the flickr group will enable the children to