Rita Dove Roast Possum What is Thomas Doing Essay

Rita Dove Roast Possum What is Thomas Doing - Essay Example He tells stories about a special horse and also about hunting possums. These are kind of folk stories, but the children love the stories because the evoke a distant time when the world was a different place. Part of the context of this different time is that African-Americans would not have been treated as proper people. Behind Thomas is an encyclopedia. Encyclopedias are supposed to be repositories of knowledge. They are supposed to be just the facts. But we can see that this book has racists facts such that African-American children stop being intelligent when they reach puberty. It is clear that the stories that the book tells are less true than the stories that Thomas is remembering of his youth. The encyclopedia is an official book which is full of so-called facts. Thomas's story is full of lingo and second-hand information, but Dove is implying that nevertheless Thomas's stories are much more true than the books, even if there are dozens of them fulling the shelves. These kind of stories, Dove is saying, tell us a lot about ourselves (Righelato, 87). Thomas' stories have embellishments but that only makes them more true, the poet suggests. They are full of old-time know how, which beats academic knowledge any day, Dove implies. When Malcolm asks Thomas about the horse, Thomas replies with more details about the possum.

El estudio de proyectos

El estudio de proyectos 1 EL ESTUDIO DE PROYECTOS 1.1 Preparacià ³n y evaluacià ³n de proyectos Un proyecto es la bà ºsqueda de una solucià ³n inteligente al planteamiento de un problema tendiente a resolver, entre tantos, una necesidad humana. El proyecto surge como respuesta a una idea que busca la solucià ³n de un problema o la manera de aprovechar una oportunidad de negocios. Al preparar y evaluar un proyecto se pretende encontrar la mejor solucià ³n al â€Å"problema econà ³mico† que se ha planteado, y asà ­ conseguir que se disponga de antecedentes y la informacià ³n necesaria para asignar racionalmente los recursos escasos a la alternativa de solucià ³n mà ¡s eficiente y viable frente a una necesidad humana percibida. La Pre-inversià ³n consta de dos etapas. La primera etapa es la Preparacià ³n del proyecto, es decir, se determina magnitud de la inversià ³n, los costos y beneficios. La segunda etapa es la Evaluacià ³n del proyecto, en otras palabras, se mide la rentabilidad de la inversià ³n. Las causas del fracaso o del à ©xito pueden ser: * Cambios tecnolà ³gicos * Cambios en el contexto polà ­tico: cambios de gobierno o variaciones econà ³micas. * Cambios en las relaciones comerciales internacionales * Inestabilidad de la naturaleza * Entorno institucional * Normativa legal 1.2 La toma de decisiones asociadas con un proyecto No existe una concepcià ³n rà ­gida definida en tà ©rminos de establecer mecanismos precisos en la toma de decisiones asociadas con un proyecto. No obstante, resulta obvio seà ±alar que la adopcià ³n de decisiones exige disponer de un sinnà ºmero de antecedentes que permitan que esta se efectà ºe inteligentemente. Lo fundamental en la toma de decisiones es que à ©stas se encuentran cimentadas en antecedentes bà ¡sicos concretos que hagan que se adopten concienzudamente y con el mà ¡s pleno conocimiento de las distintas variables que entran en juego. Evaluacià ³n de proyectos consisten entonces, en un conjunto de antecedentes justificatorios, mediante los cuales se establecen las ventajas y desventajas que tiene la asignacià ³n de recursos para una idea o un objetivo determinado. 1.3 Tipologà ­a de los proyectos: Uno de los primeros problemas que se observan al evaluar un proyecto es la gran diversidad de tipos de proyectos que se pueden encontrar, dependiendo tanto del objetivo de estudio, como de la finalidad de la inversià ³n. Segà ºn el objetivo o finalidad del estudio, de acuerdo con lo que se espera medir con la evaluacià ³n, es posible identificar 3 tipos de proyectos que obligan a conocer 3 formas de obtener los flujos de caja para lograr el resultado deseado: 1. Estudios para medir la rentabilidad del proyecto, es decir, del total de la inversià ³n, independientemente de dà ³nde provengan los fondos. 2. Estudios para medir la rentabilidad de los recursos propios invertidos en el proyecto. 3. Estudios para medir la capacidad del propio proyecto para enfrentar los compromisos de pago asumidos en un eventual endeudamiento para su realizacià ³n. Para el evaluador de proyectos es necesario y fundamental diferenciar entre la rentabilidad del proyecto y la rentabilidad del inversionista. La rentabilidad del proyecto es la que busca medir la rentabilidad del negocio independientemente de quien lo haga, mientras que la rentabilidad del inversionista es la que busca medir la rentabilidad de los recursos propios del inversionista en la eventualidad de que se lleve a cabo el proyecto. Segà ºn la finalidad o el objeto de la inversià ³n, es decir, del objetivo de la asignacià ³n de recursos es posible distinguir entre: a) Proyectos que buscan crear nuevos negocios: en este caso, la evaluacià ³n se concentrarà ¡ en determinar todos los costos y beneficios asociados directamente con la inversià ³n. b) Proyectos que buscan evaluar un cambio, mejora o modernizacià ³n de empresas ya existentes: solo considerarà ¡ aquellos que son relevantes para la decisià ³n que se deberà ¡ tomar. a. Un proyecto de modernizacià ³n puede incluir: i. Externalidad ii. Internalizacià ³n iii. Reemplazo iv. Ampliacià ³n v. Abandono 1.4 La evaluacià ³n de proyectos Si se encarga la evaluacià ³n de un mismo proyecto a dos especialistas diferentes, seguramente ambos resultados serà ¡n distintos por el hecho de que la evaluacià ³n se basa en estimaciones de lo que se espera sean en el futuro los beneficios y costos que se asocian a un proyecto. La evaluacià ³n de proyectos pretende medir objetivamente ciertas magnitudes cuantitativas resultantes del estudio del proyecto, y dan origen a operaciones matemà ¡ticas que permiten diferentes coeficientes de evaluacià ³n. Lo realmente decisivo es poder plantear premisas y supuestos và ¡lidos que hayan sido sometidos a convalidacià ³n a travà ©s de distintos mecanismos y tà ©cnicas de comprobacià ³n. Por otra parte la clara definicià ³n de cuà ¡l es el objetivo que se persigue con la evaluacià ³n constituye un elemento clave para tener en cuenta en la correcta seleccià ³n del criterio evaluativo. Un proyecto puede tener diferentes apreciaciones desde el punto de vista privado y el social. Cualquiera que sea el marco en el que el proyecto està © inserto, siempre serà ¡ posible medir los costos de las distintas alternativas de asignacià ³n de recursos a travà ©s de un criterio econà ³mico que permita, en definitiva, conocer las ventajas y desventajas cualitativas y cuantitativas que implica la asignacià ³n de los recursos escasos a un determinado proyecto de inversià ³n. 2 EL PROCESO DE PREPARACIÓN Y EVALUACIÓN DE PROYECTOS El Estudio del proyecto pretende contestar el interrogante de si es o no conveniente realizar una determinada inversià ³n. El estudio de viabilidad debe simular con el mà ¡ximo de precisià ³n lo que sucederà ­a con el proyecto si este fuera implementado. 2.1 Alcances del estudio de proyectos En tà ©rminos generales, son varios los estudios particulares que deben realizarse para evaluar un proyecto: los de viabilidad comercial, tà ©cnica, legal, organizacional, de impacto ambiental y financiera. Por lo regular, el estudio de una inversià ³n se centra en la viabilidad econà ³mica o financiera, y toma el resto de las variables à ºnicamente como referencia. Estudio de viabilidad comercial: indicara si el mercado es sensible o no al bien producido u ofrecido por el proyecto y la aceptabilidad que tendrà ­a en su consumo o uso, permitiendo determinar la postergacià ³n o rechazo de un proyecto sin tener que asumir los costos que implica un estudio econà ³mico completo. Estudio de viabilidad tà ©cnica: analiza las posibilidades materiales, fà ­sicas o quà ­micas de producir el bien o servicio que desea generarse con el proyecto. Estudio de viabilidad legal: asegurar la existencia o ausencia de restricciones de carà ¡cter legal que impedirà ­an el funcionamiento del proyecto. Estudio de viabilidad organizacional: su objetivo es definir si existen condiciones mà ­nimas necesarias para garantizar la viabilidad de la implementacià ³n, tanto estructural como lo funcional. Estudio de viabilidad financiera: determina su aprobacià ³n o rechazo, mire la rentabilidad que retorna la inversià ³n, medido con base monetaria. Estudio de viabilidad del impacto ambiental: encontrar las normas impuestas en materia de regulacià ³n ambiental para impedir futuros impactos negativos derivados de una eventual compensacià ³n del daà ±o causado por una inversià ³n. 2.2 El estudio de proyecto como proceso cà ­clico El proceso de un proyecto reconoce 4 grandes etapas: idea, preinversià ³n, inversià ³n y operacià ³n. Idea: puede enfrentarse sistemà ¡ticamente bajo una modalidad de gerencia de beneficios, es decir, donde la organizacià ³n està ¡ estructurada operacionalmente bajo un esquema de bà ºsqueda permanente de nuevas ideas de proyectos. Preinversià ³n: se realizan los 3 estudios de viabilidad Perfil: se elabora a partir tanto de la informacià ³n existente, como del juicio comà ºn y de la opinià ³n que da la experiencia. En el estudio del perfil se busca determinar si existe alguna razà ³n que justifique el abandono de una idea antes de que se destinen recursos. Prefactibilidad: profundiza en la investigacià ³n, y se basa en informacià ³n de fuentes secundarias para definir las variables principales referidas al mercado, a las alternativas tà ©cnicas de produccià ³n y a la capacidad financiera de los inversionistas, entre otros. Se caracteriza fundamentalmente por descartar soluciones con mayores elementos de juicio. Como resultado de este estudio, sufre la recomendacià ³n de aprobacià ³n, abandono o postergacià ³n. Factibilidad: se elabora sobre la base de antecedentes precisos obtenidos mayoritariamente a travà ©s de fuentes de informacià ³n primarias. Este estudio constituye el paso final de la etapa de preinversià ³n. El estudio de proyectos, cualquiera que sea la profundidad con que se realice, distingue dos grandes etapas: la de formulacià ³n y preparacià ³n, y la de evaluacià ³n. La primera tiene dos objetivos: definir todas las caracterà ­sticas que tengan algà ºn grado de efecto en el flujo de ingresos y egresos monetarios del proyecto y calcular su magnitud. La segunda etapa, busca determinar la rentabilidad de la inversià ³n en el proyecto. En la etapa de evaluacià ³n, es posible distinguir tres sub-etapas: 1. Medicià ³n de la rentabilidad del proyecto 2. Anà ¡lisis de las variables cualitativas 3. Sensibilizacià ³n del proyecto El anà ¡lisis completo de un proyecto requiere de por lo menos la realizacià ³n de cuatro estudios complementarios: de mercado, tà ©cnico, organizacional-administrativo-legal y financiero. 2.3 Estudio tà ©cnico del proyecto Tiene como objeto proveer informacià ³n para cuantificar el monto de las inversiones y de los costos de operacià ³n pertinentes a esta à ¡rea. Una de sus conclusiones de este estudio es que se deberà ¡ definir la funcià ³n de produccià ³n que optimice el empleo de los recursos disponibles en la produccià ³n del bien o servicio del proyecto. Con este estudio se determinaran los requerimientos de equipos de fà ¡brica para la operacià ³n y el monto de la inversià ³n correspondiente. La descripcià ³n del proceso productivo posibilitarà ¡ conocer las materias primas y los insumos restantes que este demandarà ¡. La definicià ³n del tamaà ±o del proyecto es fundamental para la determinacià ³n de las inversiones y los costos que se derivan del estudio tà ©cnico. Las interrelaciones entre decisiones de carà ¡cter tà ©cnico se complican al tener que combinarse con decisiones derivadas de los restantes estudios particulares del proyecto. 2.4 El estudio de mercado Muchos costos de operacià ³n pueden preverse simulando la situacià ³n futura y especificando las polà ­ticas y los procedimientos que se utilizaran como estrategia comercial. Decisiones como el precio de introduccià ³n, las inversiones para fortalecer una imagen, el acondicionamiento de los locales de venta en funcià ³n de los requerimientos observados en el estudio de los clientes potenciales y las polà ­ticas de crà ©dito recomendadas por el mismo estudio, pueden constituirse en variables pertinentes para el resultado de la evaluacià ³n. Metodolà ³gicamente se deben estudiar 4 aspectos: a) El consumidor y las demandas del mercado y del proyecto, actuales y proyectadas. El anà ¡lisis del consumidor tiene por objeto caracterizar a los consumidores actuales y potenciales, identificando sus preferencias, hà ¡bitos de consumo, motivaciones, etc., para obtener un perfil sobre el cual pueda basarse la estrategia comercial. El anà ¡lisis de la demanda cuantifica el volumen de bienes o servicios que el consumidor podrà ­a adquirir de la produccià ³n del proyecto. b) La competencia y las ofertas del mercado y del proyecto, actuales y proyectadas. El estudio de la competencia es fundamental ya que la estrategia que se defina para el proyecto puede ser indiferente a esta. Es preciso conocer las estrategias que sigue la competencia para aprovechar sus ventajas y evitar sus desventajas. c) La comercializacià ³n del producto o servicio generado por el proyecto Deben tomarse decisiones sobre polà ­ticas de ventas y de crà ©dito, intereses, precio, canales de distribucià ³n, marca, estrategia publicitaria, inversiones en creacià ³n de la imagen, etc. d) Proveedores y la disponibilidad y el precio de los insumos, actuales y proyectados. Se debe determinar la disponibilidad de insumos y el precio que debe pagarse para su abastecimiento. 2.5 El estudio organizacional-administrativo-legal Para cada proyecto es posible definir la estructura organizativa que mà ¡s se adapte a los requerimientos de su posterior operacià ³n. Conocer esta estructura es fundamental para definir las necesidades de personal calificado para la gestià ³n y por tanto, estimar con mayor precisià ³n los costos indirectos de la mano de obra ejecutiva. La decisià ³n de desarrollar internamente actividades que pudieran subcontratarse influye directamente en los costos por la mayor cantidad de personal que pudiera necesitarse, la mayor inversià ³n en oficinas y equipamiento y el mayor costo en materiales y otros insumos. Los aspectos legales pueden restringir la localizacià ³n y obligar a mayores costos de transporte, o bien pueden otorgar franquicias para incentivar el desarrollo de determinadas zonas geogrà ¡ficas donde el beneficio que obtendrà ­a el proyecto superarà ­a los mayores costos de transporte. Uno de los efectos mà ¡s directos de los factores legales y reglamentarios se refiere a los aspectos tributarios. 2.6 El estudio financiero Sus objetivos son: ordenar y sistematizar la informacià ³n de carà ¡cter monetario que proporcionan las etapas anteriores, elaborar los cuadros analà ­ticos y datos adicionales para la evaluacià ³n del proyecto y evaluar los antecedentes para determinar la rentabilidad. La sistematizacià ³n de la informacià ³n financiera consiste en identificar y ordenar todos los à ­tems de inversiones, costos e ingresos que puedan deducirse de los estudios previos. Los ingresos de operacià ³n se deducen de la informacià ³n de precios y demanda proyectada, calculados en el estudio de mercado, de las condiciones de venta, de las estimaciones de venta de residuos y del cà ¡lculo de ingresos por venta de equipos cuyo reemplazo esta previsto durante el periodo de evaluacià ³n del proyecto, segà ºn antecedentes que pudieran derivarse de los estudios tà ©cnicos, organizacional y de mercado. Los costos de operacià ³n se calculan con la informacià ³n de prà ¡cticamente todos los estudios anteriores. La evaluacià ³n del proyecto se realiza sobre la estimacià ³n del flujo de caja de los costos y beneficios. El resultado de la evolucià ³n se mide por medio de distintos criterios que, mà ¡s que operativos, son complementarios entre sà ­. 2.7 El estudio del impacto ambiental Se sugiere introducir en la evaluacià ³n de proyectos las normas ISO 14,000 las cuales consisten en una serie de procedimientos asociados con dar a los consumidores una mejora ambiental continua de los productos y servicios que proporcionara la inversià ³n, asociada con los menores costos futuro de una eventual reparacià ³n de los daà ±os causados sobre el medio ambiente. La gestià ³n del impacto ambiental se tiende a la bà ºsqueda de un proceso continuo de mejoramiento ambiental de toda la cadena de produccià ³n. El estudio de impacto ambiental como parte de la evaluacià ³n econà ³mica de un proyecto no ha sido lo suficientemente tratado, aunque se observan avances sustanciales en el à ºltimo tiempo. Una tipologà ­a de estudios de impacto ambiental permite identificar tres tipos: 1. Cualitativos: identifica, analizan y explican los impactos positivos y negativos que podrà ­a causar al ambiente la implementacià ³n del proyecto. 2. Cualitativo numà ©ricos: relaciona factores de ponderacià ³n en escala de valores numà ©ricos a las variables ambientales. 3. Cuantitativos: determinan tanto los costos asociados con las medidas de mitigacià ³n total o parcial como los daà ±os evitados, incluyendo ambos efectos dentro de los flujos de caja proyectados. Existen distintos mà ©todos que permiten incorporar el factor monetario al efecto ambiental: a) Mà ©todo de valoracià ³n contingente: busca determinar la disposicià ³n a pagar de las personas por los beneficios que se espera produzca el proyecto. b) Mà ©todo del costo evitado: considera que el costo asociado con una externalidad debe ser asumido por el proyecto que la ocasiona, para lo cual incorpora dentro de los costos el gasto de subsanar el daà ±o causado o, dentro de los beneficios, el costo que la inversià ³n evitarà ­a al resto de la comunidad. c) Mà ©todo de los precios hedà ³nicos: busca determinar todos los atributos de un bien que podrà ­a explicar el precio que las personas està ¡n dispuestas a pagar por el. Alcance del estudio: El estudio deberà ­a incluir todos los peligros, riesgos e impactos asociados con las personas, el medio ambiente, la comunidad del entorno y los bienes fà ­sicos donde se inserta el proyecto. 3 ESTRUCTURA ECONÓMICA DEL MERCADO El mercado està ¡ conformado por la totalidad de los compradores y vendedores potenciales del producto o servicio que se vaya a elaborar segà ºn el proyecto. La investigacià ³n de mercado entrega informacià ³n histà ³rica y actual tanto del comportamiento de los consumidores, proveedores, competidores, como de los canales de distribucià ³n para la comercializacià ³n del producto del proyecto. 3.1 Estructura de mercado El ambiente competitivo en que se desenvolverà ¡ el proyecto puede adquirir una de las siguientes formas generales: 1. Competencia perfecta: se caracteriza porque en el mercado de un determinado producto existen muchos compradores y vendedores que no pueden influir en el precio; el producto es idà ©ntico y homogà ©neo; existe movilidad perfecta de los recursos; no hay barreras de entrada o salida y los agentes econà ³micos està ¡n perfectamente informados de las condiciones del mercado. 2. Monopolio: un solo proveedor vende un producto para el que no hay sustitutos perfectos, y las dificultades para ingresar a esa industria son grandes. 3. Competencia monopà ³lica: existen numerosos vendedores de un producto diferenciado y, en el largo plazo, no hay dificultades para entrar o salid de la industria. 4. Oligopolio: hay pocos vendedores de un producto homogà ©neo o diferenciado y el ingreso o salida de la industria es posible pero con dificultades. 4 EL ESTUDIO DE MERCADO El concepto de estudio de mercado se identifica con la definicià ³n del precio al que los consumidores està ¡n dispuestos a comprar, como a la demanda. Los objetivos particulares del estudio de mercado serà ¡n ratificar la posibilidad real de colocar el producto o servicio que elaborarà ­a el proyecto en el mercado, conocer los canales de comercializacià ³n que usan o podrà ­an usarse en la comercializacià ³n de ellos, determinar la magnitud de la demanda que podrà ­a esperarse y conocer la composicià ³n, las caracterà ­sticas y la ubicacià ³n de los potenciales consumidores. 4.1 El mercado del proyecto Al estudiar el mercado de u proyecto es preciso reconocer los agentes que, con su actuacià ³n, tendrà ¡n algà ºn grado de influencia sobre las decisiones que se tomarà ¡n al definir su estrategia comercial. En este sentido son cinco los submercados que se reconocerà ¡n al realizar un estudio de factibilidad: proveedor, competidor, distribuidor, consumidor y externo. Mercado Proveedor: Deberà ¡n estudiarse todas las alternativas de obtencià ³n de materias primas, asà ­ como sus costos, condiciones de compra, sustitutos, durabilidad, necesidad de infraestructura especial para bodegaje, oportunidad y demoras en la recepcià ³n, disponibilidad, seguridad en recepcià ³n, etc. Es necesario conocer las proyecciones a futuro. Mercado Competidor: Se debe tener en cuenta que cuando la materia prima es escasa o los medios de transporte son escasos la competencia por ellos serà ¡ prioritaria. El mercado competidor directo son las empresas que elaboran y venden productos similares a los del proyecto. Es imprescindible conocer la estrategia comercial que à ©stas desarrollen para enfrentar la mejor manera su competencia en el mercado consumidor. El mercado distribuidor: es el que requiere un menor nà ºmero de variables pero no es menos importante. La disponibilidad de un sistema que garantice la entrega oportuna de los productos al consumidor es sumamente importante. Uno de los factores mà ¡s importantes son los costos de distribucià ³n y son los que determinan el precio al que llegarà ¡ el producto al consumidor y por lo tanto la demanda que deberà ¡ enfrentar el proyecto. El mercado consumidor: es probablemente el que mà ¡s tiempo requiere para su estudio. La complejidad del consumidor hace que se tornen imprescindibles varios estudios especà ­ficos sobre à ©l, ya que asà ­ podrà ¡n definirse diversos efectos sobre la composicià ³n del flujo de caja del proyecto. Se deben definir los hà ¡bitos y motivaciones de compra para definir tanto al consumidor real como al potencial. Mercado externo: recurrir a fuentes externas de abastecimiento de materias primas obliga a consideraciones y estudios especiales que se diferencian del abastecimiento en el mercado local. Ninguno de estos mercados puede analizarse exclusivamente sobre la base de lo ya existente. Siempre podrà ¡ haber proveedores que la competencia directa no haya tenido en cuenta o competidores potenciales que hoy no lo son, o nuevos sistemas de distribucià ³n no utilizados, e incluso mercados consumidores no cubiertos hasta el momento. 4.2 Objetivos del estudio de mercado Para fines de la preparacià ³n del proyecto, el estudio de cada una de las variables que se seà ±alaron en el apartado anterior, va dirigido principalmente a la recopilacià ³n de informacià ³n de carà ¡cter econà ³mico que repercuta en la composicià ³n del flujo de cada del proyecto. El objetivo del estudio del mercado como la reunià ³n de antecedentes para determinar su influencia en el flujo de caja, cada actividad del mismo deberà ¡ justificarse por proveer informacià ³n para calcular algà ºn à ­tem de inversià ³n, de costos de operacià ³n o de ingreso. Al existir opciones entre las cuales elegir, el estudio de mercado tambià ©n deberà ¡ analizar el entorno en el cual se mueve cada uno de los mercados para definir la estrategia comercial mà ¡s adecuada a la realidad en donde deberà ¡ situarse el proyecto una vez implementado. 4.3 Etapas del estudio de mercado Se definen 3 etapas: 1. Anà ¡lisis Histà ³rico: pretende lograr dos objetivos especà ­ficos: reunir informacià ³n de carà ¡cter estadà ­stico que pueda servir y evaluar el resultado de algunas decisiones tomadas por otros agentes del mercado, para identificar los efectos positivos o negativos que se lograron. 2. Anà ¡lisis de la situacià ³n vigente: es importante, porque es la base de cualquier prediccià ³n. Sin embargo, su importancia relativa es baja, ya que difà ­cilmente permitirà ¡ usar la informacià ³n para algo mà ¡s que eso. Esto se debe a que, por ser permanente la evolucià ³n del mercado puede tener cambios situacionales cuando el proyecto se està © implementando. 3. Anà ¡lisis de la situacià ³n proyectada: este es el que realmente tiene interà ©s el preparador y evaluador del proyecto. Los otros dos anà ¡lisis permiten proyectar una situacià ³n suponiendo el mantenimiento de un orden de cosas que con la sola implementacià ³n del proyecto se deberà ¡ modificar. Esto obliga a que en la situacià ³n proyectada se diferencie la situacià ³n futura sin el proyector y luego con la participacià ³n de à ©l, para concluir con la nueva definicià ³n del mercado. 6 ESTIMACIÓN DE COSTOS La estimacià ³n de los costos futuros constituye uno de los principales aspectos centrales del trabajo del evaluador, tanto por la importancia de ellos en la determinacià ³n de la rentabilidad del proyecto, como por la variedad de elementos sujetos a valorizacià ³n como desembolsos del proyecto. 6.6 Elementos relevantes de costos Aunque es posible, en tà ©rminos genà ©ricos, clasificar ciertos à ­tems de costos como relevantes, solo el examen exhaustivo de aquellos que influyen en el proyecto posibilitarà ¡ catalogarlos correctamente. Para identificar las diferencias inherentes a las alternativas, es recomendable que previamente se establezcan las funciones de costos de cada una de ellas. De su comparacià ³n resultarà ¡ la eliminacià ³n para efectos del estudio, de los costos inaplicables. Si hubiera que dirigir el estudio de las diferencias de costos, los siguientes deberà ­an considerarse como prioritarios: * Variaciones en los està ¡ndares de materia prima * Tasa de salario y requerimientos de personal para la operacià ³n directa * Necesidades de supervisià ³n e inspeccià ³n * Combustible y energà ­a * Volumen de produccià ³n y precio de venta * Desperdicio o mermas * Valor de adquisicià ³n * Valor residual del equipo en cada aà ±o de su vida à ºtil restante * Impuestos y seguros * Mantenimiento y reparaciones Es necesario insistir sobre el costo de oportunidad externo a las alternativas que pudiera repercutir de manera diferente en cada una de ellas. Todos los costos deben considerarse en tà ©rminos reales para lo cual debe incorporarse el factor tiempo. 6.11 Costos Contables Aunque en la preparacià ³n del proyecto deben considerase los costos efectivos y no los contables, estos à ºltimos son importantes para determinar la magnitud de los impuestos a las utilidades. Como el fisco no puede ir revisando el grado de deterioro de cada activo del paà ­s, define una pà ©rdida de valor promedio anual para activos similares, que denomina depreciacià ³n. La depreciacià ³n no constituye un egreso de caja pero es posible restarlo de los ingresos para reducir la utilidad y con ellos los impuestos. El preparador del proyecto debe velar por recoger en detalle la normativa legar que condicionarà ¡ la estimacià ³n de los tributos. El termino depreciacià ³n se utiliza para referirse a la pà ©rdida contable de valor de activos fijos. El mismo concepto referido a un activo intangible o nominal se denomina amortizacià ³n del activo intangible. La utilidad negativa, en el anà ¡lisis incremental, no significa necesariamente pà ©rdida, sino reduccià ³n de utilidad. Por eso, en el anà ¡lisis incremental, en vez de asociar cero impuestos a una utilidad negativa, se considerarà ¡ un ahorro de costo equivalente a ese porcentaje. Un proyecto de mejora que reduzca los costos de la empresa deberà ¡ considerar que el aumento, menos que proporcional, en las utilidades està ¡ asociado con un aumento en el impuesto que debe pagar. El costo de una deuda tambià ©n es deducible de impuestos y tiene un impacto tributario positivo que debe incluirse en el flujo de caja cuando se busca medir la rentabilidad de los recursos propios invertidos en un proyecto. Para calcular el impacto tributario de una deuda, se debe descomponer el monto total del servicio de la deuda en dos partes: Amortizacià ³n: corresponde a una devolucià ³n del prà ©stamo, y por tanto, no constituye un costo, ni està ¡ afecta a impuestos. Intereses: es un gasto financiero de similar comportamiento al arrendamiento de cualquier activo y està ¡ afecta a impuestos. 7 ANTECEDENTES ECONÓMICOS DEL ESTUDIO TÉCNICO Las diferencias de cada proyecto en su ingenierà ­a hacen muy complejo generalizar un procedimiento de anà ¡lisis que sea à ºtil a todos ellos. Sin embargo, es posible desarrollar un sistema de ordenacià ³n, clasificacià ³n y presentacià ³n de la informacià ³n econà ³mica derivada del estudio tà ©cnico. 7.1 Alcances del estudio de Ingenierà ­a El estudio de ingenierà ­a del proyecto debe llegar a determinar la funcià ³n de produccià ³n à ³ptima para la utilizacià ³n eficiente y eficaz de los recursos disponibles para la produccià ³n del bien o servicio deseado. De la seleccià ³n del proceso productivo à ³ptimo se derivarà ¡n las necesidades de equipo y maquinaria; de la determinacià ³n de su disposicià ³n en planta (layout) y del estudio de los requerimientos del personal que los operen, asà ­ como de su movilidad, podrà ­an definirse las necesidades de espacio y obras fà ­sicas. El cà ¡lculo de los costos de operacià ³n de mano de obra, insumos diversos, reparaciones, mantenimiento y otros se obtendrà ¡ directamente del estudio del proceso productivo seleccionado. 7.2 Proceso de Produccià ³n El proceso de produccià ³n se define como la forma en que una serie de insumos se transforman en productos mediante la participacià ³n de una determinada tecnologà ­a. Los distintos tipos de procesos productivos pueden clasificarse en funcià ³n de su flujo productivo: a) En serie: cuando ciertos productos, cuyo diseà ±o bà ¡sico es relativamente estable en el tiempo, y que està ¡n destinados a un gran mercado, permiten su produccià ³n para existencias. b) Por pedido: la produccià ³n sigue secuencias diferentes, que hacen necesaria su flexibilizacià ³n, a travà ©s de mano de obra y equipos suficientemente maleables para adaptarse a las caracterà ­sticas del pedido. c) Por proyecto: corresponde a un producto complejo de carà ¡cter à ºnico que, con tareas bien definidas en tà ©rminos de recursos y plazos, da origen, normalmente, a un estudio de factibilidad completo. 7.3 Efectos econà ³micos de la ingenierà ­a Las necesidades de inversià ³n en obra fà ­sica se determinan principalmente en funcià ³n de la distribucià ³n de los equipos productivos en el espacio fà ­sico (layout). Serà ¡ preciso considerar posibles ampliaciones futuras. La distribucià ³n en planta debe evitar los flujos innecesarios de materiales, productos en proceso o terminados, personal, etc. Los cà ¡lculos de requerimientos de obra fà ­sica para la planta, mas los estudios de và ­as de acceso, circulacià ³n, bodegas, estacionamientos, à ¡reas verdes, ampliaciones proyectadas y otros, serà ¡n algunos de los factores determinantes en la definicià ³n del tamaà ±o y las caracterà ­sticas del terreno. La relacià ³n entre costos de operacià ³n e inversià ³n serà ¡ mayor cuanto menos intensiva en capital sea la tecnologà ­a. En muchos casos, el estudio tà ©cnico debe proporcionar informacià ³n financiera relativa a ingresos de operacià ³n; es el caso de los equipos y las maquinarias que se deben reemplazar y que al ser dados de baja permiten su venta. En otros casos, los ingresos se generan por la renta de subproductos, como el desecho derivado de la elaboracià ³n de envases de hojalata, que se vende como chatarra. 7.4 Economà ­as de escala Para medir la capacidad para competir debe estimarse el costo fabril de los distintos niveles de capacidad de produccià ³n. Para ello, se debe definir los componentes mà ¡s relevantes del costo: consumo de materias primas y materiales, utilizacià ³n de mano de obra, mantenimiento y gastos fabriles en general. El costo fabril ya definido debe compararse con la capacidad de produccià ³n y el monto de la inversià ³n, a esta relacià ³n se le denomina â€Å"masa crà ­tica tà ©cnica†. Al relacionar el costo unitario de operacià ³n (P) con la capacidad de la planta (C), dado un nà ºmero de unidades de producto pro unidad de tiempo, resulta una expresià ³n de la siguiente forma: P2P1=C2C1-a Donde a es el factor de volumen. Costo unitario de operacià ³n frente a la capacidad Al relacional el costo en equipos por unidad de capacidad (Q), tenemos Q2Q1=C2C1-b Costo distribuido de los equipos por unidad de capacidad Al relacionar la capacidad (C) con la inversià ³n total (I) tenemos: I2I1=C2C1f Donde f es el factor de volumen Costo de adquisicià ³n asoc

Working Mothers and the Welfare State Essay -- Politics of Work-Family

"How can we explain the differences in work-family policies in the different welfare states?† Kimberly Morgan's research approach is policy centred and focuses in particular on gendered polices. In this book, with a historical comparative approach, she tries to explain how â€Å"both religious practice and religious conflict are key in the formation of the welfare state†. She emphasizes the relationship between â€Å"religion as a political force, gender and familial ideologies, the constellation of political parties and the nature of partisan competition, women's movements, policy legacies, and social structural changes† . As stressed out in the first pages: â€Å"this book examines and explain patterns of work-family policies in Sweden, France, the Netherlands and the United States, giving particular attention to child care policy but also looking at parental leave and flexible work-time arrangements. The analysis focuses on how religion has influenced on this dimension of the welfare state.† As Morgan underlines, gender differences in social policies are explained by women’s movements, by the pressures generated by social structural changes on the welfare state and by ideologies. Given that organized religion is an important source of ideology, we can then say that religion has had a fundamental role in the shaping of the relationship between state, family and gender. In fact organized religions â€Å"have sought to maintain their position as the dominant arbiters of community values and morality with giving a great attention over child and family affairs.† An example of religious influence on public welfare policies is the maintenance of the status quo perpetuated by the Christian democracy’s party. The temporal dimension of the welfa... ...by Kimberly J. Morgan, Stanford University Press, 2006 †¢ Working Mothers and the Welfare State by Kimberly J. Morgan Review by: Jason Beckfield Social Forces, Vol. 86, No. 2 (Dec., 2007), pp. 867-869 Published by: Oxford University Press †¢ Miriam Cohen. (2009) Working Mothers and the Welfare State: Religion and the Politics of Work-Family Policies in Western Europe and the United States, by Kimberly J. Morgan, Labor History, 50:3, 382-383, DOI: 10.1080/00236560903021649 †¢ Ingela K. Naumann. Working Mothers and the Welfare State: Religion and the Politics of Work-Family Policies in Western Europe and the United States, by Kimberly J. Morgan, Journal of European Social Policy DOI: 10.1177/09589287070170030602 2007 17: 286 †¢ Lewis, Jane. Gender and the development of welfare regimes Journal of European Social Policy , 1992

Exploring weather the quote “evacuation was a great success” by using my own knowledge and the sources in the booklet

Source A suggests that the evacuation wasn't really a success for a number of reasons. â€Å"Arrangements did not always go smoothly† This goes to show that the organisation of the evacuation was something that needed work on. It also talks about people not coping with their new surroundings and that people just didn't really fit in as it says â€Å"There were reports of people fouling in gardens, hair crawling with lice and bed wetting.† Some may say that they did all these as a sign that they had no respect for there surroundings but I see it differently, the fact that people are bedwetting could just be a sign of anxiety and nervousness. Although this is only a secondary source from a textbook for children it is still backed up by the fact that all of these things actually happened at the time. There were some cases of towns expecting a school of children to come but then they would end up with forty pregnant women on their doorsteps. Source B is obviously for evacuation and is agreeing with the quote â€Å"evacuation was a great success † I am led to believe this because looking at the picture it seems like it was taken for a newspaper or something else of that calibre. If something is taken for the British press during a war it has to be positive or people won't be confident about the war and may start panicking and this is the last thing the country wanted. The picture (taken September 1939, primary source) shows a school of children and there teachers walking down a road on there way to a London station, on the picture they are all laughing and smiling at the prospect of being taken away from home. I don't think these are the real emotions that they are feeling but are only doing this because the camera is looking so are smiling for it and waving. Source C I would say is neutral and is neither for nor against evacuation but is just giving some information of what really happened. But it does explain the confusion and fear of the children so I could be tempted to say it's against the idea more than for it. It is an interview 49 years after the war with a teacher who was evacuated with they're class to somewhere in the country. â€Å"We hadn't the slightest idea were we where going†¦Ã¢â‚¬  this is obviously telling us that the problem with organisation really was an issue to be thought about. â€Å"All you could hear was the feet of the children and a kind of murmur because the children were too afraid to talk.† When saying this it shows that the fear shown by the children was recognisable without even having to ask them. This is a primary source because it was from a person who was there when it happened but she was very old when giving the source so not all of it could be true. She then goes on to say â€Å"The mothers pressed against the iron gates calling â€Å"good bye darling†Ã¢â‚¬  When it says this I don't think she is completely telling the truth, I think that she remembers the mothers being upset and calling there last emotional goodbyes to there children but the words she has quoted can't possibly be true, they were from the south of London and people at the time didn't speak like that down there. Source D shows some evacuee boys having a bath with looks of glee on there faces, I think this is saying that evacuation was a success as it shows the boys safe and happy. The photo was taken during the war to be issued by the government, most probably to be used for a newspaper or something like that. In the picture it is the ratio of four boys to every bath, this maybe a sign that it was very over crowded when the children were being evacuated but it still looks like the boys are enjoying themselves. Although they are all smiling the fact of the matter is that they know that the picture is being taken thus not showing there true emotions as children especially like to smile for the cameras so they look good in the newspapers. If the camera wasn't there bath time could have been a different story all together, they all could have had grim faces on, but we will never really know. As previously stated the photo was taken during the war so is a primary source that makes just a bit more reliable. Sources E and F are both defiantly against the idea that â€Å"evacuation was a great success† as they are both complaining about either the people they had sent to them or the places they were sent to. Source E is from a mother of a host family taken 49 years after the war so vital details from her memory may have been lost or she may add things for no apparent reason. The main topic of discussion in the source is the toilet habits of her new guests, â€Å"The children went round the house urinating on the walls† and then goes on to say † Although we told the children and there mother off about this filthy habit they took no notice and our house stank to high heaven.† This does not sound like a woman who is very pleased with her evacuees. A lot of this was going on as there were many complaints all over the country abut the disgusting hygiene an habits the people had such as bed wetting, â€Å"fouling† in the garden, and the fact that some of them had never brushed there teeth up until when they were living in the hosts establishment. The fact that the house did have two toilets though means they could have been doing all this because they wanted to go home so thought if they make a nuisance of themselves then the government would send them packing. Source F is from an actual evacuee expressing there anger for the prejudice abut evacuees that has been spread that it was always poor people going to rich houses and some times it was the complete opposite. â€Å"It is just as upsetting for a clean and well educated child to find itself in a grubby semi slum as the other way round.† And also says at the beginning, â€Å"How I wish the common view of evacuees could be changed.† Both of these comments show that he is not happy being stereotyped as poor unhygienic boys for no reason that he can prevent. A lot of prejudice was going around at the time so the primary source is backed up by facts as well. Source G is also about how people were prejudice towards the evacuees just because the majority of them were poor. Some people thought it was great that they were coming to stay at there place though, because they were so poor and in some cases naà ¯Ã‚ ¿Ã‚ ½ve they were made to work in the hosts shop for free. Source G is a shot paragraph from a story wrote for children in 1973 about evacuees and what life was like for them. It shows some more prejudice behaviour from hosts at the time towards there new arrivals in there homes as she thinks that the reason that they have no slippers is because they are to poor to afford it but the real reason is they had no room in there suit cases to pack them. Although in the story the children found it funny I think it was wrong that people should be treated in a certain way before even getting to know them. Source H is a poster with a picture of two children hugging each other, In the background it has been split into two. One area is a nice quiet village in the country side and the other is the dirty city with planes flying over it, the designer for the poster has done this so u get a picture of how dramatically you can change the children's way of life just by becoming a foster. The poster sets out to make people think that they can be heros just by fostering a few children whilst the war is on with quotes like â€Å"You may be saving a child's life† This would make a foster person think that they are helping the war cause and doing there bit for the country. It is a primary source from the time and was issued by the government to encourage people to foster children and I think it would have been very successful the because of way in which they went about making the poster. Source I is part of a mass observation survey that one man decided to take part in a sat how he felt about evacuation. It was taken May 1940 so is a primary source and is very reliable. The man and the interviewer discuss the topic of what the man is going to do with his son â€Å"I'm not letting him go. They can't be looked after where they're sending him† This shows some of the country wasn't as willing as others and didn't trust the people who were going to look after there children. He also talks of how there wasn't enough food to feed the people before the war so this may have been one of the biggest concerns for parents sending there children away, that they wouldn't be looked after properly. I would say without a doubt that this source is completely against the idea of evacuation and is therefore contradicting the quote â€Å"evacuation was a great success† My over all opinion is that you could not call the evacuation a success at all as there was to many complications involved such as difference in up bringing, costs quite a lot for the hosts, people didn't trust the system, some people were rebellious against the hosts and finally it made a new kind of prejudice and there is enough of that around already. I must admit a lot of lives were saved and in some cases people enjoyed having evacuees in there houses and said it was so much fun it took there mind of the war. If evacuation didn't take place a lot of people in built up areas like London would have been killed for sure so it id have its good points that saved the British population but overall I would disagree and say no, evacuation was not a great success, it was I good idea but not a success.

The Importance of Personal Responsibility

The Importance of Personal Responsibility GEN/200 As an adult you are responsible for every action that you take, but before that action are a series of thoughts that lead you to taking that action. Your personal responsibility starts at a young age, you are either taught personal responsibility as you grow into an adult by being held accountable of your own actions or the responsibility is taken from you. Depending on how you were brought up your transition into becoming an adult can either be an easy one or a difficult one where everyone is to blame but yourself.As an adult the one thing that you know is a constant is that you will be held accountable for your actions whether you like it or not. Holding yourself accountable and having self discipline has a lot to do with personal responsibility in my opinion. When you hold yourself accountable for your actions, your thoughts, your intentions†¦ you are making a conscious effort to be a responsible person. Every action starts wi th a thought, whether it’s a good thought or a bad thought will determine the outcome of that action.For example when you wake up in the morning and the first thought that comes to mind is that you will have a bad day, whether you know it or not you are subconsciously going to make it a bad day. Personal responsibility starts with holding yourself accountable, if you stopped that thought when it happened and told yourself that today will be a good day you have already turned the outcome around. By holding yourself accountable you are in control, you are not aimlessly going through life reacting to what happens to you.Self discipline goes hand in hand with holding yourself accountable, by having self discipline you are able to make sure that you are staying on track and checking up on yourself regularly. Having self discipline will go a long way in making sure you make it to your intended destination. Take flight paths for example, when you fly somewhere they generally show yo u the path that they will take. It is impossible to stay exactly on that line since you are in the air constantly battling the changes circumstances around you, air pockets, up drafts, down drafts, adverse weather, etc. The ilots are disciplined enough to make necessary adjustments to stay on track on make it to their destination on time. This holds true in life by having the self discipline to make adjustments where need be to hold yourself accountable to what is happening around you. Sometimes life throws you a curve ball and having the characteristics of personal responsibility you will be able to adjust and continue on. Personal responsibility is incredibly important, by making sure that you are aware of what is happening and holding yourself responsible for the outcome of your actions you will go a long way.Everybody knows someone who always has an excuse for why something didn’t happen the way that they wanted it to, they know just who or what to blame. They will active ly look for something or someone to blame to avoid facing the fact that they may have done something wrong to have the outcome that received. That person generally hasn’t changed very much from the person they were in high school both personally and professionally. By holding yourself responsible you are more aware of what is happening, you can review your actions and determine what adjustments need to be made.Some of the most successful people in life are the most critical of themselves, whether it’s a professional athlete studying game tapes before a game or a college student doing the necessary research before giving a presentation. Personal responsibility can help you achieve your goals in your college degree in stride. By using your personal responsibility you would make the time to read ahead on your class syllabus to make sure that you are missing any large assignments that are coming up.As an adult learner putting together a plan to help practice personal respo nsibility is a key component to your success. With the economy in its present state many students require a full time job to be able to go to school, scheduling enough time to study and finish your assignments without impeding on your work schedule will help. Taking a look into your class and what is required when you start a new class will help you plan and schedule your time, having that plan in place will make it a lot easier to hold yourself accountable to complete each block.Having a written plan, specific goals with set timelines, and a vision will help you succeed in making sure that you accomplish what you set out. Ultimately personal responsibility will make your tenure in college a lot easier, it will also become second nature as you enter the professional world. Whether you are entering your first career or going back to school to pursue a new career having personal responsibility will take you far in life. If you were to interview the most successful people in the world I can almost guarantee that being personally responsible will be a key component to their success.

Paper Sample

Critiquing Qualitative Research, Essay/Paper Sample Critique of a Qualitative Research Abstract This essay entails qualitative research study critique. The main research study that will be critiqued is Mr. Seda’s Identity theft and university students: do they know, do they care? Published in 2014.   Mr. Ludek Seda lectures at Flinders Business School. He has different qualifications such as Bachelor of Legal Studies (Police University of the Czech Republic), Bachelor of Commerce (Honours) (Flinders University), Certified Fraud Examiner (Association of Certified Fraud Examiners), among other. His responsibility includes FBS Academic Integrity Coordinator. Throughout his research study, Mr. Ludek used semi-structured interviews that were periodically scheduled. The interviews served as the primary tool for collection of data. Twelve undergraduate students from Flinders Business School were sampled out of the entire population for the purpose of research. There were six females and six male and face-to-face interview design was used. The purpose of the research was to offer an explanation of factors influencing the relationship between University student’s awareness of identity theft risks and the prohibitory steps they take. My critique of Mr. Seda’s Identity theft and university students: do they know, do they care?   Will involve holistically evaluating the study as an epitome of a qualitative research. Moreover, I will base my arguments on factors that must be considered when developing research questions and research approaches for a qualitative research (Seda, 2014). Critique of a Qualitative Research The Identity theft and university students: do they know, do they care? Has two research questions. The first question- Do university students know about identity theft? Second question- Do university students care about identity theft? These two research questions are valid and within the scope of the research study. The research uses these questions as a guidance for his research. They focus on the identity theft. The questions have exploratory verbs and specify the participants. The research questions are developed with long-term agenda. Furthermore, they are well defined (Bryman, 2012). The qualitative research approach used in the study is semi-structured interviews.   The following are the ways in which the researcher develops the design: The first thing is that he prepares the questions ahead of time. At this stage the interviewer gets ready for the data collection by scheduling his dates of carrying out the interviews. Consequently, the questions set are open-ended. The open-ended questions provide the opportunity for discussions that diverge from guide of interview.   The researcher is able to tape-record the interviews and analyze them after transcript. However, the disadvantage of semi-structured interview is that it is difficult to conducting interview and putting down notes simultaneously. Developing a dialogue and rapport are essential in offsetting the difficulty of recording the interview while conducting the interview. Mr. Ludek uses semi-structured interviews that are periodically schedule (Rowley, 2012). The research study contains logical and clear connections with the components. The design choice puts ethical implications into consideration. For example, Seda chooses to interview six female and six male students. His choice of design is fair and just to gender divide because it does not show gender discrimination. The identity theft is a problem affecting both female and male students (Australian Crime Commission , 2011). Conclusion In conclusion, Seda’s Identity theft and university students: do they know, do they care? is a qualitative research study whose research questions and alignment exemplifies all the requirements for a perfect qualitative study. Seda uses quality research questions that leads into the answers to the identity theft among college students. References Australian Crime Commission . ( 2011). Organised Crime in Australia, Australian Crime Commission,. Australia. Bryman, A. (2012). Social Research Methods. Oxford: Oxford University Press. Rowley, J. (2012). Conducting research interviews†, Management Research Review (Vols. 35 Nos 3/4, ). Retrieved 10 13, 2016 Seda, L. (2014). Identity theft and university students: do they know, do they care?. Journal of Financial Crime, Vol. 21( 4), .461 483. Retrieved from http://dx.doi.org/10.1108/JFC-05-2013-0032

Influence of Changes in Exchange Rate on Imports and Exports

Influence of Changes in Exchange Rate on Imports and Exports Introduction The exchange rate refers to the â€Å"rate at which one nation’s currency can be exchanged for that of another† (Beardshaw 45). There are two types of exchange rates namely; the fixed exchange rate and the floating exchange rate. Under the floating exchange rate, the demand and supply forces determine the rate at which the currency of a country is exchanged with that of another country. The government usually determines the rate at which its currency can be exchanged with a foreign currency in the case of a fixed exchange rate.Advertising We will write a custom essay sample on Influence of Changes in Exchange Rate on Imports and Exports specifically for you for only $16.05 $11/page Learn More The factors that cause changes in exchange rate include â€Å"inflation, balance of trade and the real interest rate† (Beardshaw 46). The changes in exchange rate have both positive and negative impacts on economic activities. It partic ularly influences the level of import and export in a country. This paper will focus on the impact of changes in exchange rate on imports and exports in an international business. Impacts on Exports and Imports Prices of Commodities Changes in the exchange rate can result into either an increase or a decrease in the prices of imports and exports. In the context of exports, an appreciation of the local currency will result into an increase in the prices of the exports in the international market. This is because when the currency of the exporting country becomes stronger than that of the importing country, traders in the later purchase the currency of the former at a high rate in order to pay for the goods (Case and Fair 67). This means that the traders will be spending more on the goods even if their actual prices have not been increased. Thus an appreciation of the domestic currency will make the business’s products to be more expensive in the foreign market. However, a depr eciation of the domestic currency will make the exports cheaper (Lipsey and Hurbury 23). This is due to the fact that the customers will purchase the local currency at a low rate in order to pay for the products. An appreciation of the domestic currency will make the imported goods to be cheap. This is because the business will purchase the currency of the country from which the goods have been imported at a low rate (Thurbecke 113). This means that importers will spend less money to import the goods and this translates into low prices. On the other hand, a depreciation of the domestic currency will force the business to purchase the foreign currency at a high rate. Thus it will spend more in importing the goods and this translates into higher prices (Kwack 61). Demand and Supply The demand for the export products will be high if the domestic currency depreciates. This is due to the fact that the customers in the export market will spend less to import the goods and this translates into low prices. The low prices will increase the demand and supply of the export products (Mallick and Marques 770).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More However, the demand for the export products will reduce if the local currency appreciates. This is due to the fact that such appreciation will translate into high prices as customers spend more in importing the goods. This leads to low demand and supply of the export products. The demand for imports will be low if the domestic currency becomes weak (Amor 113). This is because the business will spend more to import the goods as the cost of purchasing the foreign currency in order to pay for the goods increases. This leads to high prices and this translates into low demand and supply. However, the demand for imports will be high if the local currency appreciates since the favorable exchange rate will lower the costs of importing the goods. Marketing The marketing of both imports and exports is directly influenced by changes in the exchange rate. It particularly influences the marketing mix and segmentation process in regard to the exports and imports (Blinder and Baumol 134). A depreciation of the domestic currency results into high demand for the export products. Thus the business will focus on increasing distribution and identifying new segments in order to increase sales. However, an appreciation of domestic currency lowers the demand for the export products. Thus the focus of marketing will shift to promotion and segmentation. Promotional activities will be emphasized in order to increase sales. Besides, only products whose demands are not price elastic will be distributed. As the demand for the imports increases due to the appreciation of the domestic currency, the marketing team will focus on increasing distribution and identifying new segments in order to increase sales (Ito, Isard and Bayo umi 23). However, as the demand for the imports reduces due to the depreciation of the domestic currency, the marketing team will focus on promotion and selective distribution in order to increase the sales of the imported goods. Sources of the Imports Changes in exchange rate will influence the diversification of the sources of import goods. In order to avoid the risks associated with fluctuations in exchange rate, businesses usually diversify their sources of import goods. This means that they import the same product from different countries. They will always import from countries whose currencies are depreciating or are weaker as compared to that of their country (Thorbecke 509). This enables them to take advantage of the low cost of purchasing the foreign currency in order to pay for the imports. This leads to low prices and high demand for the products.Advertising We will write a custom essay sample on Influence of Changes in Exchange Rate on Imports and Exports specifi cally for you for only $16.05 $11/page Learn More Currency Selection and Payment Contracts Since countries use different currencies, an export and import business must decide its preferred currency for accepting payments or making payments. As discussed above, the fluctuations in the exchange rate has a direct impact on prices and demand for both imports and exports. Thus in order to avoid or to reduce the risks associated with exchange rate flactuations, international businesses always focus on sharing such risks with their partners (Blinder and Baumol 79). This has always been done by choosing a currency that is relatively stable. The selected currency must be accepted by both the exporter and the importer. For example, the US dollar is commonly used in international trade due to its stability. Thus changes in exchange rate determines the currency for paying for the imports and exports. Returns on Exports and Imports The changes in exchange rate have a direct imp act on the profits that accrue from both import and export trade. A depreciation of the local currency will increase the demand for the export goods. This leads to high sales and an increase in profit margins (Case and Fair 75). However, an appreciation of the local currency leads to a reduction in sales and profit margins as the products become more expensive in the export market. In the case of imports, an appreciation of the local currency leads to high demand and this translates into high sales and profits. However, the depreciation of the local currency will negatively affect sales as prices increase due to the high cost of purchasing foreign currency in order to pay for the imports. As the sales reduce, the profits also reduce. Product Development A stable exchange rate will enable the business to sustain the desired level of revenue. This is because the demand and supply as well as sales will not be adversely affected by the fluctuations in exchange rate as discussed above. T hus the company will be able to obtain the funds that are needed for research and development in order to produce the goods and services that meet the expectations of the customers. However, fluctuations in the exchange rate undermine the financial performance of an import and export business (Kwack 62). This forces international companies to direct a high percentage of their revenue towards the implementation of strategies that enables them to survive the negative effects of exchange rate fluctuations. Such strategies include sales campaign and sharing the costs of importation or exportation with the customers. Consequently, very little funds are allocated for research and development and this undermines the process of product development.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Conclusion The above discussion shows that the exchange rate has a great influence on import and export businesses. The businesses gain when the exchange rate is favorable as discussed above. However, they lose when the exchange rate is unfavorable. The undesired effects of changes in exchange rate on exports and imports include increase in prices and reduction in demand and profit margins (Case and Fair 58). Changes in the exchange rate can also lead to a reduction in prices and an increase in demand and profits. Thus it is upon the business owners to understand the dynamics of the exchange rate in the market in order to avoid the risks associated with exchange rate fluctuations. Amor, Thouraya. Financial integration and real exchange rate volatility. International Journal of Business and Management 3 (2007): 112-115. Beardshaw, John. Economics. New Delhi: Pearson Education, 2001. Print. Blinder, Alan and William Baumol. Economics: principles and policy. New York: Cengage, 2009. P rint. Case, Karl and Ray Fair. Principles of economics. New York: Prentice Hall, 2004. Print. Ito, Takatoshi, Peter Isard and Tumim Bayoumi. Exchange rate movements and their impact on trade and investment . Washington DC: International Monetary Fund, 1996. Print. Kwack, Sung. Exchange rate and monetory regime options for regional cooperation. Journal of the Japanese and International Economics 16 (2008): 503-517. Lipsey, Richard and Colin Hurbury. First principles of economics . London: Oxford University Press, 1992. Print. Mallick, Suschanta and Helena Marques. Passthrough of exchange rate and tariffs into prices of India. Review of International Economics 16 (2008): 765-782. Thorbecke, Willem. Global imbalances, triangular trading patterns and the yen/dollar exchange rate. Journal of the Japanese and International Economics 22 (2008): 503-517. Thurbecke, Willem. Investigating the effects of exchange rate chnages on Chinas processed exports. Journal of Japanese and International E conomics 10 (2010): 101-126.

5 Ways to Bond With New Coworkers

5 Ways to Bond With New Coworkers Making friends as a grownup can be really hard. Particularly making friends at work, when you’re the new kid and don’t yet know the dynamics of your office. But there are a few easy steps you can take to make inroads. 1. Think Outside the OfficeGrab a coffee or a drink at happy hour after work. Ask questions (not pushy or invasive ones!) and find out about your co-workers’ interests.2. Quit The Smack TalkEveryone needs to grumble about work now and then- and a nice round of complaining with your co-workers can be just the key  to get things off your chest. But be careful not to overdo it. It’s easy to step on toes or alienate people who might have a different take on things. Concentrate on the positive instead!3. Stick To Common GroundFind things you have in common with your co-workers and steer the conversation towards your shared interests. It shows you listen to what they care about and you can open up a discussion about something non-work-related (al ways a welcome break!).4. CollaborateAsk for guidance or a fresh pair of eyes on your project. Your co-workers will be flattered to know you recognize what they do well and respect them for it. Plus you’ll prove yourself as someone who is capable and cooperative.5. Share the GloryDon’t be one of those people  who constantly takes all the credit. Make sure to point out who helped you out  and try not to toot your own horn- even if you did something toot-worthy!Try these simple workplace hacks and you’ll be well on your way to making friends in your new office. When in doubt, just remember to do your job and be sincere.5 Steps To Easily Connect With Your Co-Workers

Kaiser Wilhelm II Essay Example | Topics and Well Written Essays - 2500 words

Kaiser Wilhelm II - Essay Example The period between 1888 and 1914 saw rapid growth of Germany as an economic and military dominance. On the other hand, Europe was largely divided into different opposing camps due to the suspicion arising from allies that were formed during this period. The mistrust culminated into the World War 1, where Germany experienced the worst defeat in the century. Consequently, there was the abolishment of German monarchical rule, and all this was blamed on Wilhelm’s actions and character (Imperial War Museums 1). Additionally, the miscalculated judgments by Wilhelm led to the dismissal of Bismarck in 1890. Moreover, Wilhelm II disrupted the political system that had existed in Europe (Imperial War Museums 1). This was largely seen through strained relationship that existed between Germany and Britain. In addition, as Germany engaged in supporting the Boers against Britain, this hastened the development of strong ties between France and Britain to the detriment of Germany (Imperial Wa r Museums 1). This also increased isolation of Germany to the rest of Europe. The other essential thing to note is Wilhelm’s support of Austria-Hungary against Serbia. This opened doors for strenuous relations between various allies in Europe. This was detrimental to Germany and Europe and was utterly opposite of the situation in the last quarter of 19th century. ... He adopted different form of governing for over two decades before the beginning of the First World War. The form of governance was different as compared to the one practiced by Bismarck. The governance was more liberal and compared to the conservative nature adopted by Bismarck. He engaged in aggressive and expansionist political course entirely in the name of maintaining Germany position in Europe. All these far-reaching policies acted as a recipe to war in 1914. This was because the policies adopted by Wilhelm II destabilized the relative peace that Bismarck had managed to restore. However, the foreign policy remained the same throughout this period as what was envisioned in the unification of Germany. Moreover, there was the adoption of a German constitution in this period that envisaged the militaristic foundation of the new empire. The constitution gave all sections of the government real political power. The sections included the Bundesrat, the Reichstag, Prussian cabinet and the military establishment. The election of the Reichstag was by all males over the age of 24 (Imperial War Museums 1). This gave Germany a law making body that had similar democratic principles to the rest of Europe. However, all the different factions of the government were under Wilhelm II. As a result, Wilhelm had enormous political power and this was instrumental to the institutionalization of ‘personal rule’ as envisioned in his dreams (Imperial War Museums 1). Secondly, Wilhelm made a political decision that was not expected by many in Germany at this period. He forced Bismarck to resign in 1890. This was seen as resulting from variation in political ideologies. This was because Bismarck was conservative as compared to Wilhelm 11 liberal approach. This provided

Lurking in the shadows Essay Example | Topics and Well Written Essays - 500 words

Lurking in the shadows - Essay Example So I try to put them at ease. I uncross my legs slowly so as not to draw their attention. I steady the rocking chair and I become very still. I am as still as a thousand year old stone; stiller, in all reality. I relax and then adjust my vision. I breathe softly, in measured breaths, and study these fascinating creatures anew. The distance is not close; indeed, there is an open field over which I must peer before reaching the edge of the wooded field where the doe keeps her fawn close by her side. The wheat in the open field rolls as the wind passes by, and the wooded field is studded with oak and pine. The fawn blends at times with the yellow of the wheat field and the brown of the woods. The fawn is at one moment visible and then nearly imperceptible; it is the down, with a darker brown color, that allows me to keep focused most precisely. The trees are crowded closely together, a shadow almost when compared with the brightly rolling yellow field of wheat, and the deer are perceptible only in their occasional movements.

Critically assess the implications of Social Contrant Theory (SCT) for Essay

Critically assess the implications of Social Contrant Theory (SCT) for relations between the individual and state - Essay Example overnment and state in the current times, and provides a strong justification of the limitation of the power of the state against the citizens, and the corresponding authority of the people to establish a government that will serve the common good and embody the people’s ideals and aspirations. Thomas Hobbes’ political philosophy of social contract theory is outlined in the hypothetical State of Nature. In his Leviathan published in 1651, he articulated on a particular theory of human nature that gives a rise to a particular view of morality and politics (Gauthier 1988). He rejects the theory of Divine Rights of Kings, indirectly refuting Filmer’s claim that a king’s authority is invested in him by God, enjoys an absolute authority, in which the basis of political obligation lays in an individual’s obligation to obey God absolutely. Hence, this theory of Filmer, which Hobbes rejects in his social Contract theory, states that political obligation is subsumed under religious obligation (ibid). Rather, Hobbes argued that obligation and political authority are dependent upon the individual’s self-interests of members of society who are taken as equals of the others, with no single individual given an absolute authority to rule over the rest, while at the same time, poses that if society is to survive, the Monarch (Sovereign), must be given absolute authority (Baier 1994). Hobbes describes the human being as exclusively self-interested and reasonable, possessing the rational capacity to pursue his dreams as maximally as possible. He argues that man’s reason does not evaluate their given ends; rather it merely finds the way to the things Desired, describing rationality as purely instrumental (ibid). It is from these premises that Hobbes is able to construct a provocative and compelling argument for why individuals would tend to be willing to submit themselves to a political authority. He explains this through his discussion of the State of Nature, in which

Explain what's meant by Transaction Cost Economising. Also analyse Essay

Explain what's meant by Transaction Cost Economising. Also analyse between contributions made by Coase & Williamson - Essay Example For example, the searching cost (the energy and effort taken to find out the good), the cost of traveling for availing it, waiting time to get it and even the effort of paying it self are the costs incurred above and beyond the market price of that particular commodity. This ‘above’ and ‘beyond’ market price is the transaction cost. Now days, transaction cost is significant in each and every potential transaction. Transaction Cost Economics and Economizing The Transaction Cost Economics is the approach of analyzing the economic organization which considers transaction as the basic unit of analysis and it stresses that economizing the transaction cost is the central part of the analysis in the study of economic organizations. The cost of factors of production (resource inputs) , ie, land ,labor and capital, should be called as resource cost and for the better production, the resource cost should be the minimum. For enhancing the production and productivity, t he co-operation and investments in specialization are highly desirable. Co-operation between economic actors and investments in specialization are the major components of productivity enhancement. For achieving this co-operation and investment specialization, cost arises due to the inclination of self interested owners of inputs to shirk the commitments. The costs that incurred for the minimizing the shirking include: i) Searching cost incurred to identify the owners of the inputs (when, where and what type of the required good is available in the market with minimum price) ii) Negotiating or bargaining cost is the cost incurred for implanting an acceptable agreement between these two parties. In stock or asset market, it is the distance between ‘bid and ask’. It also includes the costs of any incentive given to minimize the shirking. iii) Monitoring cost and iv) Enforcement cost In spite of all these costs, residual loss from shirking may exist because of the inability of the above mechanisms to bring the shirking to zero in a complex and uncertain economy. Hence, the costs incurred to minimize the shirking plus the residual loss from shirking together constitute ‘transaction cost’(Hill, 1995). Contributions of Coase and Williams to the theory of Transaction Cost Economizing The origin of the theory of transaction cost economizing can be traced to a contributions of John R Common, 1932, Ronald H Coase 1937 and 1960, Friedrich Hayek, 1945, Herbert Simon, 1951, Chester Barnard, 1938, Philip Selznick , 1949 and Alfred Chandler, 1962. (Williamson, 1981). Among this series, the works of Ronald H Coase and Oliver Williamson are the real milestones. Coase laid the foundations of the Transaction Cost Approach while Williamson built a strong structure for the analysis. Both of them provide suitable and strong theoretical contributions to Transaction Cost Economics under the broad framework of Institutional Economics and they focus on how tran sactions have to be organized in order to economize the transactions. While describing the applications of transactional economics, it is assumed that different dimensions of transactions have to be identified and the alternative governance structure has to be described. Economizing of transactions can be achieved by discriminatory assignment of transactions to governance structures. The application of transaction cost approach lies both in the demarcation of efficient boundaries between firms and markets and in the governance

Consumers and the law Essay Example | Topics and Well Written Essays - 2500 words

Consumers and the law - Essay Example He agrees to accept a price reduction of  £500 as well as the dealer being responsible for fixing the brakes. This does not bring about any other issue in the scenario so it would seem as though the dealer’s agreement to accept less as well as fix the problem would not be disputed. The amendment to initial offer would constitute as a condition, as defined in the case of Wallis v Pratt [1911] AC 394 as: "[a condition is] an obligation which goes so directly to the substance of the contract, or in other words, is so essential to it very nature that its non-performance may fairly be considered by the other party, as a substantial failure to perform the contract at all.†3 Another operating issue that is important to note is if Amir is dealing as a consumer or operating in the course of business. The facts indicate that although he intends to use it mainly for personal use, he also intended to use it for business purposes, and more importantly, the purchase money came out of his business account. If the court determines that Amir is operating within the course of business, he will not be protected under the additional consumer protection given under s.48 Sale of Goods Act1979, as well as provisions contained within the Unfair Terms in Consumer Contracts Regulations 1999, among others.5 This issue becomes relevant with regards to the situation involving the clutch. Amir seems to be seeking rescission. There are three problems with this is. The first issue is whether or not it can be seen that Amir is acting as a consumer. If it can be seen that Amir was acting as a consumer, he would be protected by s.48A(3) Sale of Goods Act which indicates that: â₠¬Å"...goods which do not conform to the contract of sale at any time within the period of six months starting with the date on which the goods were delivered to the buyer must be taken not to have so conformed

Team based incentives Essay Example | Topics and Well Written Essays - 500 words

Team based incentives - Essay Example The installation projects assigned may have varying degrees of difficulty which can affect achievement of equal goals. Individuals, too, cannot be equally the same. They can be high performers, average or even poor performers. Unless they are all sold on the team concept, each individual may primarily look out only for himself and not for the team as a whole. The team incentive reward would be viewed as unfair if those rewarded are not deemed to be deserving of the reward, as when average performers receive exactly the same reward as high performers. This makes the reward unfair and unjust. Determine what work components will be rewarded for each individual member. This may be individual regular installation (IRI), individual difficult installation (IDI), overall regular installations (ORI), overall difficult installations (ODI). Put a percentage weight on each component. For example, IRI - 35%, IDI - 35%, ORI - 15%, ODI - 15%. This way, high performers shall be rewarded more than average performers but each team member knows that all performance contribute to overall achievement of team goals. Management would have benefited from employee involvement in the initial design an

Consumers and the law Essay Example | Topics and Well Written Essays - 2500 words

Consumers and the law - Essay Example He agrees to accept a price reduction of  £500 as well as the dealer being responsible for fixing the brakes. This does not bring about any other issue in the scenario so it would seem as though the dealer’s agreement to accept less as well as fix the problem would not be disputed. The amendment to initial offer would constitute as a condition, as defined in the case of Wallis v Pratt [1911] AC 394 as: "[a condition is] an obligation which goes so directly to the substance of the contract, or in other words, is so essential to it very nature that its non-performance may fairly be considered by the other party, as a substantial failure to perform the contract at all.†3 Another operating issue that is important to note is if Amir is dealing as a consumer or operating in the course of business. The facts indicate that although he intends to use it mainly for personal use, he also intended to use it for business purposes, and more importantly, the purchase money came out of his business account. If the court determines that Amir is operating within the course of business, he will not be protected under the additional consumer protection given under s.48 Sale of Goods Act1979, as well as provisions contained within the Unfair Terms in Consumer Contracts Regulations 1999, among others.5 This issue becomes relevant with regards to the situation involving the clutch. Amir seems to be seeking rescission. There are three problems with this is. The first issue is whether or not it can be seen that Amir is acting as a consumer. If it can be seen that Amir was acting as a consumer, he would be protected by s.48A(3) Sale of Goods Act which indicates that: â₠¬Å"...goods which do not conform to the contract of sale at any time within the period of six months starting with the date on which the goods were delivered to the buyer must be taken not to have so conformed

Alzheimer's Disease College Essay Example | Topics and Well Written Essays - 1500 words

Alzheimer's Disease College - Essay Example The first thing about Alzheimer's is that it is a progressive disease i.e. once Alzheimer's occurs in a body it keeps on developing for example in the early stages of Alzheimer's a person would only start forgetting recent events or names of people that he or she met recently but as the disease progresses it gets severe and hence as a result the person starts forgetting routine activities as well such as how to brush ones teeth, in the later stages people even forget the names of their family members and also the way to their home, they tend to roam about with no sense of direction or purpose, 1since Alzheimer's is a progressive disease it is a fatal disease as well, people usually die off the infections caused by Alzheimer's within the brain. Alzheimer's is a form of dementia, dementia refers to the loss of memory but it needs to be understood that Alzheimer's is a totally different form of dementia and there are causes that can be cured in certain cases and in certain cases the dem entia is irreversible i.e. the loss in memory is permanent and there is no known cure for that particular type of dementia, unfortunately Alzheimer's falls under the category of dementia that cannot be cured and research is being conducted on how to cure Alzheimer's but scientists the world over are still clueless. 2This paper will systematically divide the issue at hand into categories and would tackle each category at a time but in an integrated manner. Prevention: The first and the foremost question that needs to be tackled is of the prevention of this disease, there are basically two age categories that have dementia, one is the age group from 30-65 and basically this type of dementia or Alzheimer's is due to ones genetic conditions or previous family history, this is known as the early onset, people who have dementia in the early on set may be in any stage the early, middle or late. 3The second type is the late on set, in late on set the most important factor is age, early on set occurs in people from 65+ and they may have no history of dementia or Alzheimer's in their family. Research has shown that people who have much more active brains reduce the risks of having Alzheimer's by 30-40%, this research was carried out on people related to religious services and it was found that priests or fathers that involved in activities like chess and other games where their mind was actively used, had lower chances of contracting the disease rather tha n people who did not. No medications have yet been developed to prevent dementia or Alzheimer's but an active brain certainly reduces the chances, other than this scientists and researchers also recommend that people take care of their general health levels as well to prevent dementia, although no direct link has been found with blood pressure or diabetics it is important that people keep these in check so that the risk of a damage to the brain reduces significantly. Scientists have been able to recognize that Alzheimer's causes the brain cells to die but they have not, as yet, been able to pin point any reason why this occurs and hence prevention can not take place due to this reason but the factors mentioned above do help to a certain degree in helping to reduce the risk of Alzheimer's. Causes and Risk Factors: The risk factors that

Big Bazaar one of leading Indian retail chains

Big Bazaar one of leading Indian retail chains Executive Summary Big-Bazaar is one the leading retail chain in India. This retail chain is exemplary in terms of performance. Many other business leaders have entered in this retail business seeing the success of Big-Bazaar in India. It is considered epitome of operational and efficiency excellence in India. IT is one of the most successful ventures initiated by Kishore Biyani of Future Group. With the success of this retail chain, it has expanded its branches all over the India and now they are planning to venture into a foreign land. This is the study of Big-Bazaars marketing plan if it will plan to enter in United Arab Emirates. Through this study we are planning to have detailed study of Big-Bazaar future plan of entry in United Arab Emirates. This Study will check the Marketing Objective, Marketing plan, Financial Plan and resource acquisition plan of Big-Bazaar with its retail chain launch in United Arab Emirates. This study will study in detail about the profit generation, Retail chain operati onal planning and its profit generation analysis. Here, we will start from where we have left last time. We did cultural analysis and enabling factors for Big-Bazaar in last Phase I project. Now in phase II project we are going in detail about the study of marketing plan and promotion mix to attract customer and to establish its trademark operational efficiency in providing superior service at rock Bottom price. Here, in this study we will take the traditional approach of making the marketing plan of Big-Bazaar. We will proceed in the following manner. First we are going to study about the marketing objective, and then we will start with the Marketing plan. This will be followed by financial plan which will detail about the financial items like product costing and financial statements including income statements. We will discuss about the promotion mix and resource requirement for the retail chain operation. Marketing Plan Introduction Marketing Plan will check how to strategize the opening of Big-Bazaar retail chain in UAE. It will also check out the advertisement, Packaging and promotion plans for this new retail chain. The detailed study will work as the starting plan for the launch of product in UAE and it will then be made to change gradually with sale increase from the expectation to the aspired. It will change with course of time depending on the success and failure of the program. We are going to study about the marketing tactics in this section. Marketing Objective Target Market Citizens of United Arab Emirates will be the target market for Big-Bazaar. Presence of lot of expatriates will be boon for the company as they have the ready visibility for this brand. For Company the basic target group will be the shoppers who are willing to spend their money economically and those who the value of their money. Therefore our target customer will be the people who are married and who belong to the middle class family. Company will also be cashing on the presence of Indians there. (Retail Market in Middle East) Expected Sales Sales objectives define the amount of sales company want to have in very first year. Since company is totally new in the United Arab Emirates, we are planning to have a sale of around 234 million US $ or 734 Million of AED in the very first year with its operation in nearly 12 stores in 12 different areas. Profit Expectation Profit Expectation of Big-Bazaar will also be bit on lower side only. With the sale of total of 734 AED of grocery, Big Bazaar will be gaining overall profit of 23 million AED. This shows that we are expecting Big-Bazaar to be profitable in very first year only and we are expecting it to earn a big name through its operational efficiency. Promotion Mix Advertising Objective Main objective of advertisement is to make customers aware of the brand and make them take our brand image in the same way in which we want to communicate. Therefore here operational efficiency doesnt matter until and unless you really tell the customer that we are excellent in managing operation in the same way as Honda stresses the quality part of its product in its advertisements. Therefore here the objective will be to communicate shopper that it is the cheapest shopping point. Company will have to communicate the low price wit high quality of its brand. Company cannot play with brand name by tarnishing g its image with its cheapness. Company should communicate the proud of giving genuine product at such a low price. As always we need to first segment the population of United Arab Emirates in categories. Since here in United Arab Emirates per capita income is much more than India, therefore the cheap price will not be only factor that will attract consumers towards their product. Big-Bazaar should be showing the good shopping environment over and above the capability to sell it so cheap. After segmenting population we need to target the middle income segment population. After setting the target company needs to set its positioning to provide cheap and good quality products. (Westwood, 2006) Media Mix We are planning to have the media mix which can make big-Bazaar to approach every single people in United Arab Emirates. This should also make them aware of this new retail shop coming in their nearby market. Since it is future groups first company that will be launching its retail chain in UAE, it has to take care of the brand image of the Bi-Bazaar from getting tarnished by competitors. Since the retail chain will be starting on such a large scale in UAE it needs to do more and more advertisements in UAE starting from its launch only. Hence we will need following media-mix:  · Billboards  · Banners  · TV program  · Kiosks  · Magazines The method company can plan to make this promotion successful is to have it in various phases. Actually this is one of the most important criteria which company usually follows while entering into a new market. Message Big-Bazaar has the image of providing good quality of items at the rock bottom price. Its image is like everything under one roof. Therefore it has to communicate this image to the consumer showing happy family buying their groceries from a place where every family member got something of his/her choice. Company should communicate this image by stressing its image on tag line which it is going to use while conveying its brand image. Message can be similar to â€Å"Cheaper than this, doesnt exist!!!† Cost Advertisement Newspaper Advertisement $ 20,000.00 AED 73,440.00 Billboard $ 5,000.00 AED 18,360.00 TV Advertisement $ 30,000.00 AED 110,160.00 Kiosk Advertisement $ 10,000.00 AED 36,720.00 Promotion $ 30,000.00 AED 110,160.00 Banners $ 5,000.00 AED 18,360.00 Advertising Expense $ 100,000.00 AED 367,200.00 Sales Promotion Objective The main objective of sales promotion is attracting more consumers in least possible time with a communication that you are offering more value per unit of money to your consumer. In the very first year, company should try making products as much cheaper as it can by bringing small packs or by giving more and more offs on its grocery. Free goodies can be one of the methods to attract more and more consumers towards it. Premiums Premium is generally used in a way in to associate the product with something of real use to customer. Big-Bazaar can use this age old technique by associating some free gifts on spending more than AED 1000 in the in any of the Big-Bazaar retail chain. Coupon Coupons will be some free coupon either of service or of entertainment. This really helps in shoppers incoming into the mall. Big-Bazaar can utilize this technique by attaching coupons with the bill in case the shopper buys more than a threshold limit of goods. Big-Bazaar can offer free movie coupons or next time buyings discount coupon. (Details of Big Bazaars Offer in Festive Seasons â€Å"Big Bazaar Maha Bachat Shopping Discount Independence Day Offer†) Cost Big-Bazaar always cash on low cost model therefore promotion will play a major role here. Company will have to cash in the opportunity of providing more and more goods with the promotional scheme as its very first year and this years performance will work as a make or break for the company. Therefore we have allotted $30000 for the promotional scheme only. Advertisement Newspaper Advertisement $ 20,000.00 AED 73,440.00 Billboard $ 5,000.00 AED 18,360.00 TV Advertisement $ 30,000.00 AED 110,160.00 Kiosk Advertisement $ 10,000.00 AED 36,720.00 Promotion $ 30,000.00 AED 110,160.00 Banners $ 5,000.00 AED 18,360.00 Advertising Expense $ 100,000.00 AED 367,200.00 Personal Selling Big-Bazaar is a retail chain. It will not need to sell its product personally but it should have the facility of home-Delivery so that the groceries of higher cost should be delivered safely to consumers home without any damage to create superior experience for consumers. Other Promotional Method No other promotional method should be taken by the company as it is its very first year of operation. It should take traditional method of operation. Distribution from Origin to Destination Mode of Distribution Big-Bazaar will be having products which are of all kinds. It should have its warehouse too in order have extra storage facilities. This warehouse should be optimally located and should be in vicinity to all the 12 stores which are there in the United Arab Emirates. In the very first year of operation company can afford to have two storehouses. There will be staffs working in them and company will be needing one big-bazaar van to commute from store house to store in order to have low empty shelf space time. (Luther, 2011) Packaging Marking and Labeling Regulations Until and unless Big-Bazaar is not launching its own brand product like it sells KOREO in India, it doesnt need to worry about labeling as its general business to sell other brands product at a cheaper price. Containerization Company doesnt need to care for this packaging issue apart from putting RFID on all the products for easy tracking of their availability and presence. The reason is that it will be different brands who are selling under Big-Bazaars brand name that will have to take care of containerization problem. Costs Since packaging is an issue for the brands which are going to sell under the tag of Big-Bazaar here therefore packaging will not be problem for Big-Bazaar. Price Determination Transportation Cost Transportation cost is always there whenever one opens a retail chain. Here the major transportation cost will be there in the movement of goods from warehouse to main retail shops. The transportation should be there in Big-Bazaars own dedicated vehicle. All the transportation cost is there included in Distribution Cost only. The $10000 amount is allotted to it. Handling Expenses Handling expense for product will be borne by company and is included in miscellaneous expense of $4000. (Dubais rental information â€Å"Commercial To Let In Dubai, Properties In Dubai† ) Whole and Retail Mark Up and Discounts Product Cost Percentage of Total Expense Saleable Grocery Cost $ 200,000,000.00 AED 734,400,000.00 Big Bazaars Average margin on Cost 10% $ 20,000,000.00 AED 73,440,000.00 Total revenue $ 220,000,000.00 AED 807,840,000.00 Selling Expense $ 750,000.00 AED 2,754,000.00 72.3% Advertising Expense $ 100,000.00 AED 367,200.00 9.6% Distribution Expense $ 183,000.00 AED 671,976.00 17.6% Misc Expense $ 4,000.00 AED 14,688.00 0.4% Total Expense $ 1,037,000.00 AED 3,807,864.00 Pro-formal financial Statement and Budget Introduction This section will check the financial associated with the marketing and operation plan of opening of Big-Bazaar Retail. Marketing Budget Advertisement/Promotion Expense Advertisement Newspaper Advertisement $ 20,000.00 AED 73,440.00 Billboard $ 5,000.00 AED 18,360.00 TV Advertisement $ 30,000.00 AED 110,160.00 Kiosk Advertisement $ 10,000.00 AED 36,720.00 Promotion $ 30,000.00 AED 110,160.00 Banners $ 5,000.00 AED 18,360.00 Advertising Expense $ 100,000.00 AED 367,200.00 Distribution Expense Distribution Cost(per annum) Store Payroll $ 20,000.00 AED 73,440.00 Store Management $ 20,000.00 AED 73,440.00 Rent(@ 2 Warehouse 1000 sq.ft.) $ 85,000.00 AED 312,120.00 Transportation $ 10,000.00 Utilities $ 20,000.00 AED 73,440.00 Depreciation $ 5,000.00 AED 18,360.00 Repair $ 5,000.00 AED 18,360.00 Maintenance $ 18,000.00 AED 66,096.00 Total Distribution Expense $ 183,000.00 AED 671,976.00 Product Cost Product Cost Percentage of Total Expense Saleable Grocery Cost $ 200,000,000.00 AED 734,400,000.00 Big Bazaars Average margin on Cost 10% $ 20,000,000.00 AED 73,440,000.00 Total revenue $ 220,000,000.00 AED 807,840,000.00 Selling Expense $ 750,000.00 AED 2,754,000.00 72.3% Advertising Expense $ 100,000.00 AED 367,200.00 9.6% Distribution Expense $ 183,000.00 AED 671,976.00 17.6% Misc Expense $ 4,000.00 AED 14,688.00 0.4% Total Expense $ 1,037,000.00 AED 3,807,864.00 Other Cost Misc Expense $ 4,000.00 Pro forma annual profit and loss statement (Profit year) Profit And Loss Statement AED Income Revenue $ 220,000,000.00 AED 807,840,000 Expense Cost of Goods Sold 200,000,000.00 AED 734,400,000 Selling Expense $ 750,000.00 AED 2,754,000 Advertising Expense $ 100,000.00 AED 367,200 Distribution Expense $ 183,000.00 AED 671,976 Misc Expense $ 4,000.00 AED 14,688 Total Expense 201,037,000.00 AED 738,207,864 EBIT $ 18,963,000.00 AED 69,632,136 Interest $ 10,571,890.00 AED 38,819,980 EBT $ 8,391,110.00 AED 30,812,156 Tax @ 20% $ 1,678,222.00 AED 6,162,431 Net Income $ 6,712,888.00 AED 24,649,725 Resource Requirements Introduction In this section we will discuss about the Resource requirement. Here we will analyze about how company is planning to expand and what all it will require while expanding in this way. We are going step by step. First we are going to analyze the finances, Personnel and later we will discuss capacity or Scale in which Big-Bazaar should be operating. Finances Companies usually get their finances from two tools Debt or Equity. Debt is the fixed amount taken by company at fixed interest rates. This amount has its maturity associated with and it and after a certain interval of time company has to return. Equity is the money which company usually plans to have through dilution of its ownership. We taking all factors in account thinking about having a PE firm getting associated in financing just by having stake in our firms ownership. We suggests that company should have a debt to Equity ratio of 6:5 in long term and therefore company should invest 45% through its equity and should ask for remaining 55 % as debt from their local banks. Personnel Any firm whenever it starts its business usually needs Personnel to make the ideas take shape. Even the Big-Bazaar will need personnel for its operational requirements. Big-Bazaar will majorly look for following: HR personnel for Customer Care Department Sales Personnel Labors Managers Marketing Personnel Accounting Personnel Operation Personnel Distributor personnel Depending on the scale which we are launching, Companys estimate of personnel for its first year of operation will be as below Marketing 60 Sales 600 Accounting 18 Human Resource 12 Information Technology 5 Operations (including distribution and packaging) 1200 Scale Production capacity should be planned as per companys aim of expanding in future. As per seeing Nestlà ©s trend of expansion plan in other countries, we can assume following as companys capacity requirement in future. Year I 12 Shops Year II 15 Shops Year III 18 shops Year IV 22 Shops Year V 25 Shops Nestle should have production capacity accordingly. Conclusion As we can see from the analysis, Big-Bazaar operation in United Arab Emirates will be profitable only. In the very first year of its operation, The Company can aim to gain a profit of AED 24.6 Million. Companys big brand name and operational expertise can work wonders for the company for its UAE operation. Therefore the verdict is that company should go ahead with its Emirates plan as it seems profitable from the analysis we have made till now.