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.