Kentucky Fried Chicken

Introduction Background information Kentucky Fried Chicken (KFC) is a fast food firm which was established in 1952 by Cornel Harland Sanders. The firm has its headquarters in Kentucky. Over the years it has been in operation, KFC has been very successful. One of the factors contributing to its success is its effectiveness in implementing expansion strategies.Advertising We will write a custom report sample on Kentucky Fried Chicken specifically for you for only $16.05 $11/page Learn More For example, apart from conducting domestic investments, it has also ventured into the international market through incorporation of internationalization strategy. In addition, the firm has integrated the concept of franchising. As a result, KFC has established a chain of 16,200 outlets in 100 countries in which it operates (Hoovers Incorporation para. 1). Of these franchises, 5,100 are located in the United States. This has enhanced its ability to achieve its profit max imization objective. Its success is also associated with the management team’s effectiveness in implementing good organizational values which directs all the firm’s operations. For example, the management team respects and rewards all the contributions by its employees. In its operation, KFC ensures that it offers its customers high quality products. This is evident in its philosophy statement which is represented in its CHAMPS program. CHAMP is an acronym for the values held by the firm which include Cleanliness, Hospitality, Accuracy, and Maintenance of facilities, Product quality and Speed in service delivery. The program has enabled the management team to integrate the concept of customer focus amongst the employees. Aim This report illustrates an internal analysis of KFC by considering the business and corporate level strategies. KFC’s SWOT Analysis The table below illustrates the firm’s strengths, weaknesses, opportunities and threats. Strengths The firm has developed strong brand equity as a result of offering quality products and services to the consumer. The firm has attained economies of scale in its operation. Expansion in the foreign market has enhanced cash flow hence its financial stability. Establishment of a strong and efficient interactive marketing has enabled the firm to develop customer loyalty. Its product diversification strategy has enabled the firm to be ranked as a convenient firm. Weaknesses The firm has not installed point of scale scanning system. KFC’s research and development team is not well instituted. The management team does not have employee relationship building program. KFC only focuses at high income earners Opportunities -Change in age demographics as a result of increase in individuals aged between 18-34 years. This presents a potential increment in its market. -General economic growth resulting into a rise in consumers’ disposable income. -By incorporating customer fo cus, there is a high probability of the firm increasing its customer base. -The firm can diversify its operation by targeting emerging markets such as in Asian countries. -The firm can improve its public image by updating its restaurants. Threats -Increased competition from large firms such as McDonalds and also new entrants. S The firm also faces a threat from supermarkets which are increasingly dealing with fast food products. – The fast food industry is characterized by a high rate of employee turnover. -Fluctuation in exchange rate as a result of changes in business environment may affect remission of profit by the firm’s subsidiary firms located in the international market. -Changes in consumer tastes and preferences may affect demand for the firm’s products. This is due to the fact that consumers are increasingly becoming health conscious. – Core competence Hitt, Ireland and Hoskisson (81) define core competence as the ability of a firm to attain a high competitive advantage compared to its rivals. Since its establishment, KFC has laid more emphasis on provision of diverse fried chicken products. This has enabled the firm to effectively position itself in the market.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Some of the factors which have contributed towards the firm’s efficiency include its competence in delivering unique experience, offering the right chicken and ease of access of its products in the market. The resultant effect is that KFC has been widely recognized as the ‘chicken expert’. KFC Corporate Level strategy In its operation, KFC has incorporated different concentration strategies. Kazmi (150) further defines concentration strategy to include how a firm specializes in certain products or services. Kazim further asserts that firms which are successful in different industries are those that ha ve incorporated the concept of specialization. Concentration strategies mainly involve investing in a certain product line. KFC has integrated different concentration strategies. These include market penetration, market development and product development. Product development strategy This strategy involves a firm innovating new products and marketing them in the same market with the other products (Kazim 150). By introducing new products, a firm is able to attract more customers. In line with this, KFC intends to reintroduce the Rotisserie chicken. As a result, the firm will attract new customers. Market development This is where a firm introduces and sells its products to a new market. This means that the firm expands its geographical coverage. Alternatively, market development may also involve a firm offering the same products to a new market but at a different price (Slack Parent 112). KFC has integrated this strategy by introducing its present products to new markets. In addit ion, the firm also develops its market by targeting new categories of customers. Business strategy Franchising According to Burgess (119), franchising has been widely accepted as one of the most effective ways through which small and medium enterprises can grow. In addition, franchising model can be used to restructure a firm’s operations so as to be successful. According to Floyd (para. 3), increased incorporation of franchising in the fast food industry has arisen from the increment in competition. Over the years, KFC’s growth has resulted from incorporation of the concept of franchising. Through franchising, KFC has been able to penetrate into the international market.Advertising We will write a custom report sample on Kentucky Fried Chicken specifically for you for only $16.05 $11/page Learn More According to Wit and Meyer (916), KFC was amongst the first fast food firms to venture into the international market during 1950s through fra nchising. n 2007, the firm refocused its internationalization strategy through franchising by considering markets in China, South Africa, South Korea, Malaysia, Great Britain, Mexico, Phillipines, Indonesia and Japan ( Witt Meyer 916). Through franchising, the firm has been able to expand its operations rapidly in small countries which only have a capacity of supporting few restaurants. Product differentiation According to Ireland, Hoskisson and Hitt (99), focused differentiation strategy can enable a firm to attain a high competitive advantage. Focused differentiation entails a firm’s effort to produce products and services which its target customers consider being unique (Ireland, Hoskisson Hitt 99). Additionally, it is vital for a firm to incorporate all the primary and support activities in its value chain so as to be effective in its differentiation strategy. According to Smith (61); the fast food industry is characterized by a high degree of rivalry. This arises from the large number of players in the industry. The large number of competitors has made switching cost to be low. As a result, firms in this industry are required to be very efficient in developing their competitive advantage. One of the core sources of competitive advantage for these firms is their ability to provide unique and quality service. This is due to the fact that customers associate their satisfaction with the value and the experience attained (Vequist et al 34). In an effort to cope with industry rivalry, the large firms such as KFC, Hardees and McDonalds try to differentiate their products so as to attain a high competitive edge. Over the years it has been in operation, KFC has managed to develop a competitive advantage with in offering its food products. Its products are unique which makes it difficult for competitors to imitate. The firm primarily deals with chicken pieces, sandwiches, salads and wraps (Crest 1). However, its core focus is fried chicken. The firm offers a wide range of chicken products. In order to be successful in the international market, the firm customizes its products to the local market. As a result, KFC is able to meet the local customers’ tastes and preferences. However, the eleven herbs and spices which make its products unique remain universal. Its effectiveness in maintenance of unique and diverse fast food products has contributed towards the firm developing customer loyalty.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More To be effective, KFC has incorporated the ‘Food, Fun and Festivity’ concept. This enables the firm to offer diverse food products with chicken being the main meal. KFC’s value chain analysis According to Sekhar (115), value chain entails a number of activities undertaken by a firm in an effort to ensure that it delivers high quality products and services. This means that the probability of the firm attaining its profit objective is increased. In an effort to achieve this, KFC has integrated a comprehensive value chain which is composed of both primary and support activities as discussed below. Inbound activities The firm procures high quality materials from local firms. The procurement process is relatively simple. To ensure efficiency in its operation, KFC has incorporated an effective inventory control mechanism in all its outlets around the world. This has been achieved through implementation of an efficient information communication technology. Examples of te chnologies integrated in its inventory system include the VPN and ADSL. Through these technologies, it has been possible for the firm to manage raw material usage. In addition, inventory control ensures timely replenishment of the stock (FRSVISION para. 1-3). Operations These entail activities which are aimed at transforming inputs into final goods and services (Sekhar 116). To ensure that its products and services contribute to a high level of customer satisfaction, KFC has instituted a research and development department. The objective of RD is to enable the firm meet the customers’ requirement by understanding the existing market demand. Additionally, the firm collaborates with its suppliers in an effort to offer high quality products and services to its customers by ensuring that suppliers supply high quality raw materials. Outbound logistics These include activities aimed at ensuring efficient distribution of the finished products (Sehkar 116). KFC’s management te am has appreciated the role of Information Communication Technology (ICT) in enhancing product distribution. As a result, the firm implemented the concept of e-commerce in 2007 (The Franchise Mall para. 1). This has enabled customers to undertake online ordering. To ensure that customers achieve a high value, the management team has also integrated a free delivery service. Marketing and sales These entail the various tasks aimed at satisfying the customer and also generating sales. To achieve this, the firm has incorporated continuous product improvement. KFC has been effective in marketing and sales as a result of diversifying its menu. In order to generate sales, the firm promotes its products through various mediums such as the internet. For example, the marketing of KFC Popcorn Chicken was rolled out through MSN across the United States. Since its target for this new product was the at-work audience, the campaign was rolled out during lunch hours (Plummer 23). The firm’s marketing and sales activities are also enhanced through issuing free samples such as during an individual’s birthday party. Services These are the after-sale services offered to the customer after closing a sale (Sehkar 117). To ensure delivery of high value, the firm has instituted interactive communication with the customers. After consuming its products, the consumers can be able to raise their opinion regarding the service offered. This enables the firm to make adjustments to its products based on the information received. Support services The success of KFC also arises from its experienced human capital. The firm has a human resource base of 445,000 employees. The firm has a quality assurance department which ensures procurement of high quality raw materials. This has played a significant role in ensuring food safety (KFC para. 1). To enhance its procurement process, the firm has sought the services of experts. Financial Analysis Profitability ratios Return on assets (R OA) This ratio is used to evaluate a firm’s ability in utilizing its assets to gain profits. This is achieved by comparing the firm’s profits with the assets used to generate the profit. If a firm has a relatively high ROA, it means that there is effective and efficient utilization of assets. In addition, ROA depicts a firm stability. During the 2010 financial year, KFC had a ROA of 3.97% (Bloomberg Business 1). This illustrates a relatively low ROA which means that the firm is not utilizing its assets to the maximum. Return on Equity This ratio is a measure of the shareholders equity in comparison to a firms’ net income. The ratio illustrates how effective a firm has been in reinvesting its earning so as to generate more earnings. KFC had a ROE of 11.29% during its 2010 financial year. This illustrates that the firm has been effective in reinvesting its earnings (Bloomberg Business 1). Return on capital (ROCA) ROCA shows how a firm has utilized its borrowed cap ital either equity or debt capital to generate profit. KFC had a ROCA of 7.68%. This illustrates that KFC has been effective in utilizing its capital (Bloomberg Business 1). Asset Turnover Ratios Total Asset Turnover Bloomberg Business defines this ratio as a measure of a firm’s efficiency in generating sales using its assets. During its 2010 financial year, KFC had a TOA of 1.1 times. This means that the assets were used to generate sales 1.1 times (Bloomberg Business 1). Accounts Receivables Turnover The ratio shows the average duration taken by a firm’s clients to pay their invoices. A firm with a low account turnover indicates that its clients are very efficient in settling their bills which means that the firm becomes financially stable. KFC had an account receivable turnover of 2.9 times which is relatively low indicating a high financial stability (Bloomberg Business 1). Fixed Assets Turn over The ratio compares a firm’s sales to its fixed asset. As a res ult, one is able to determine how a firm is utilizing its fixed assets. Alternatively, it may indicate that a firm has a lot of money tied in its fixed assets. A fixed asset turnover ratio of 4.9 times indicates KFC’s efficiency in utilizing its fixed assets (Bloomberg Business 1). Conclusion From the analysis, it is evident that KFC’s success has resulted from a number of sources. The firm’s internal analysis indicates that the firm has developed a number of strengths. For example, KFC has incorporated the concept of customer focus which has enhanced its commitment towards ensuring that the customers attain a high level of satisfaction. This is illustrated by the firm’s emphasis on value addition. In addition, KFC deals with a wide range of fast food products which has enabled it to address the differences in consumer tastes and preferences. The firm has also developed a core competence with regard to fried chickens. Its unique quality of fried chicken p roducts has enabled the firm to develop a high competitive advantage. In addition, the firm has a strong management team which is very effective in decision making and implementation. As a result, the firm has been effective in implementing business and corporate level strategies. Some of the business level strategy which the firm has integrated relate to product differentiation and franchising. These strategies have enhanced the firm’s competitiveness considering the fact that the industry is characterized by a high degree of rivalry. For example, the secret recipe has enabled the firm to be effective in differentiating its products hence attaining a strong market position. On the other hand; franchising has enabled KFC to expand its operations both in the domestic and the foreign market. Implementation of corporate level strategies which include product and market development has enhanced the firm’s ability to expand its market share. Both the business and corporate level strategies has contributed towards the firm’s financial stability as illustrated by the above financial ratios. Recommendations Considering the high degree of industry rivalry, it is paramount for the firm’s management team to consider the following. Diversifying its products and service offering so as to attract a large number of customers. One of the ways through which this can be achieved is by conducting a consumer market research prior to venturing into a new market. This way it will be possible for the firm to understand the customers’ product and service requirements. The firm should consider other expansion strategies such as entering into merger with potential partners. However, it is vital for the management to undertake a cultural analysis prior to entering the merger to prevent failure. Works Cited Bloomberg Business. KFC Limited. 4 Jan. 2011. 2 April 2011. Web. Burgess, Samuel. Managing information technology in small businesses: challengesà ‚  and solutions. Hershey, PA: Idea Group Publishing, 2002. Print. Crest. There is fast food, then there is KFC. 3. June 2008. 2 April 2011. Web. Floyd, Callum. The great fast food challenge. 4 August 2006. 2 April 2011 Print. FRSVISION. The success stories. 3 May 2001. 2 April 2011. Web. Hitt, Michael, Ireland, Duane and Hoskisson, Robert. Strategic management:  competitiveness and globalization; concepts and cases. Mason, OH: South-Western, 2009. Print. Hoovers Incorporation. KFC Coporation. 2 Dec. 2010. 2 April 2011. Web. Kazmi, Azhar. Strategic management and business policy. New Delhi: Tata McGraw Hill Education, 2008. Print. Plummer, Joseph. The online advertising playbook: proven strategies and tested tactics  from the advertising research foundation. Hoboken, NJ: Wiley, 2007. Print. Sekhar, Satya. Business policy and strategic management. London: IK international Publisher. Slack, Trevor and Parent, Milena. Understanding sport organizations: the application of  organiz ation theory. Champaign, IL: Human Kinetic, 2006. Print. Smith, Andrew. The oxford companion to American food and drink. London: Oxford University Press, 2007. Print. The Franchise Mall. KFC to test online ordering. 20 June 2007. 2 April 2011. Web. Vequist, David, Jackson, Stacy, Teachout, Mark, VanderVeen, Steve and Eames, Bob.  Capstone and Experiential Class Workbook. Dubuque, IA: Kendall Hunt, 2009. Print. Witt, Bob and Meyer, Ron. Strategy process, content, context; an international  perspective. Andover, Hampshire: Cengage Learning, 2010.Print. This report on Kentucky Fried Chicken was written and submitted by user Joaquin Black to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Health and safety issue for contractor company in oil and gas industry The WritePass Journal

Health and safety issue for contractor company in oil and gas industry ABRSTACT: Health and safety issue for contractor company in oil and gas industry ABRSTACT:DISCUSSION:1. Isolation of Equipment:2. Accident caused by Human Error:3. Entry to Vessel4. Liquefied Flammable Gases:5. Modification:Reference:Related ABRSTACT: Exploration and production of petroleum is highly profitable sector, but on the other hand, it is very risky business. Catastrophe in refineries and oil rigs like Mexico II (1983) in the Gulf of Mexico, Pipe Alpha, has totally changed the script of safety procedure and risk assessment. It is evident from the past history, 65 % of disasters resulted due to Human Organizational error. That’s why it is highly recommended to the oil operating and contractor companies to identify the risk, potential hazard and consequence of hazardous incident. Health and safety measure are always seems to be an overburden for project, but in reality they are preventing the tragic accident which would be result in damage of assets, loss of valuable human lives, demoralization of team and hazardous environmental impact. In last 35 years of North Sea, average yearly accidental cost is  £200M (except in 1988-1989 cost  £1200 M due to Piper Alpha) and loss of 485 precious human lives (ROYAL INSTITUTION OF NAVAL ARCHITECTS 1991). In this report, we will try to discuss the critical issues of health and safety faced by a contractor company in oil industries. Furthermore, we will try to show what was done wrong in past and will try to suggest how similar incident might be prevented in the future. DISCUSSION: â€Å"Nation have passed away and left no traces, Any history gives the naked cause of it one single simple reason in all cases; they fell because their people were not fit.†Rudyard Kipling. Unfortunately, the history of the oil and process industry indicates that a lot of incidents are repeated after a lapse of a few years .Because people move and lesson are forgotten. Accidents caused during the following activities are very common, many of them are not resulted in death, serious injury or serious damage they were near-miss. But they could have had much more serious consequence. We will discuss few of them in detail. Isolation of Equipment. Accident caused by Human Error Entry to Vessel Liquefied Flammable gases Modification Storage Tanks Stacks Leaks Pipe and Vessel Failure Hazard of Common Material I don’t know that (Like Ammonia can explode, Hydraulic pressure can be hazardous, Diesel engines can ignite leaks. 1. Isolation of Equipment: Case I: Three people were killed and the plant was destroyed during a pump repair. Dismantling was done to repair the pump. When the cover was removed, hot oil, which is above its ignition temperature, came out and caught fire. From several days, a pump was waiting for repair work and work permit was issued. On the day of accident, the foreman who issued the permit should check the drain valve should be opened and suction delivery valves were shut. But suction valve was opened and drain valve was closed by someone. Maintenance team only intend to change the pump bearing and they decide to open the pump and inform the process team but no further checks and isolation was done. It is not habitual in company concerned to isolate the equipment under repair by slip plate, only by close valves. Similarly, failure in permit to work procedure was the major reason for the disasters of Piper Alpha. Recommendations: Permit to work will be withdrawal and new one is issued, if there is any change in the nature of work. Isolation of equipment must be done when it is under repair. Bleed valve and double blocks must be installed, where fluid at having gauge pressure above 600 psi or temperature above or near auto-ignition point. 2. Accident caused by Human Error: Case I: (Warning Ignored) During the working shift, it had been noticed by the operator that the level of fluid in tank is falling rapidly. He informed the instrument department that the level gauge is not working properly. After few hours, when they were changing the gauge, they found that the previous gauge was correct and there was a leaking in the drain valve. But it is quite late and they has been lost 10 ton of material. Case II: (High Temperature Alarm) After a modification pump was installed, it was used to transfer some liquid. When the transfer of liquid completed, operator pressed the switch off button, he saw the pump is â€Å"running off† light went out. After a several hours, high temperature alarm of pump sounded. Operator supposed that there was a fault in alarm and he ignored it. Soon afterward, there was a huge explosion in the pump. During the modification of pump, an error in the circuit was introduced and stop button was not working properly. Recommendations: Proper training should be given to the operators; they must take a necessary action upon unusual reading. Always respond to alarm. They might be correct. Training should be emphasis the importance of alarm. In record sheet, control limit must be defined. 3. Entry to Vessel Many incident have been happened which killed no of peoples because they entered inside the vessel or any other confined space which had not been thoroughly cleaned or tested. Case I: (Unauthorized Entry) Contractors mostly unfamiliar with the operating companies rule, have frequently got into the vessel without authority. A contractor foreman entered in a vessel which was opened and disconnected, setup for entry, but it was not yet tested. The foreman was estimating the cost of cleaning, he supposed that there was no need of permit for entering the tank just for inspection and got affected by the gas. Similarly an incident happened during the lunch time, a process foreman was taking a last look of vessel before boxed up. There was an old gas mask lying on the floor, he decided to go and remove it. While going inside he slipped from the ladder and fell and was knocked. His tongue blocked his throat and he suffocated. Case II: (Entry into vessel with Irrespirable Atmosphere) A contractor entered in the combustion chamber of a gas plant watched by two standby men but without waiting for the breathing apparatus to arrive. He lost consciousness halfway up when he was climbing out of the chamber. He was hanging between the chamber wall and the ladder. Rest of the men could not pull him out with lifeline. One of the men reached to the person without breathing apparatus and he also lost consciousness. Both of them were rescued, but standby man was died by this time. Case III: Vessel was generally split up into two halves by a baffle which had to be removed. The vessel was cleaned out, inspected, and a permit issued for a worker to enter the left hand side of the vessel to burn out the baffle. It not possible to see on the right hand side of the vessel but as the left hand side of the vessel was clean and because no combustible gas was detected it was assumed that the other half was also clean. While the welder was in the vessel, some deposited in the right hand half caught fire. The Welder came out side without a sever injury but wounded himself in his rush. Recommendations: Vessel should assume to contain hazardous material, if a portion of the vessel can not be tested and it seems to be safe. Only gas test are not enough. When the vessel will be heated or disturbed it may produce gas which was present in the sludge. For any addition work inside the vessel, new work permit for confined space should be issued. People should now put their head inside the vessel unless entry has been authorized. Manhole should be covered with barrier if the vessel is opened but entry is not yet authorized. Rescue person should be available at the spot with necessary equipment. Always use breathing apparatuses before entering the vessel. Do not relay on contractor reading rule, just follow the safety procedure of operating company. 4. Liquefied Flammable Gases: Case I: (Fire and exploration at processing plant at Mexico City) November 1984, there was a worse incident at processing plant (LPG-actually Propane 20 % and Butane 80%) in San Juanico, Mexico. About 542 people were died, 4,248 were injured and 10,000 become homeless. The main cause was the rupturing of 8 inch line. During investigation it was revelled that the tank was overfilled and the inlet pipeline was overpressure. It is not known why the pressure relief valve was not lifted. The gas was spread in the area of 200m by 150 m before it caught fire. Most of the people got killed and injured are pubic, who were living near the plant. Recommendations: There was not gas detector in this area. This should be present. Plant was at congested place about 160 m away from town. It is recommended that for LPG plant it should be 600 m away from the town. There was no fire insulation on equipments. Vessels and tank should be fire insulated. The water deluge system was inadequate. 5. Modification: Many accidents have happened just because modifications were carried out in plant and these modifications were not fulfilling the safety criteria. Case I: A reactor was cooled by a providing of brine to the jacket. There was a repair work in brine system and it was to be shutdown so water from town was used instead. This town water pressure (130 psi gauge pressure) was more than that of brine, so the reactor collapsed. Before the modification, a modification approval form was approved which had twenty important questions. But this form was filled as a formality. Recommendations: Before modification, however inexpensive, temporary or permanent, is made to a plant or process or to a safety procedure, it should be authorized in writing by a manager and an engineer. They manager and engineering who authorized modification can not be expected to stare the drawing and hope that the consequence will be show up. They must provided with an aid such as a lost of questions to be answered.   The foreman should not be authorized to make any modifications at field work. We have discussed few of the above critical issues which are very important for a contractor company to work in oil and gas industry. Furthermore, critical issues of a plant are also indicated in logical tree analysis in figure 1. CONCLUSION: The purpose of this report is to indicate the safety issues for a contractor company in oil and gas industries. The purpose of giving the cases and recommendation is to understand what they had done wrong in the past and to advise how similar disaster might be prevented in the future. After reading this report just analysis your plant, are you doing the same wrong thing which people did and resulted in disasters? Development of a safety culture is necessary, culture which would be committed with safety; safe work practise would be encourage and people do insist for safe work for every one, their attitude must be toward safe work practise. Leadership and top management should have to set a meaningful safety program by providing sufficient training and experience. Moreover, communication played a significant role; proper training and safety induction should be given to supervisor level, so that the correct information should be transmitted to them. Figure no. 1 Logic Tree Analysis Reference: The integration of Quantitative Risk Assessment and Reliability centered Maintenance to optimize platform Design and Operations by R.M Marshell, S.T.Maher, P.R. Stevenson B.C.Morris

Business Theory Comparison Essay -- Business

2. A solely profit based business model would define stockholder theory in which the paramount goal of the business is to produce the most earnings for their stockholders. Prioritizing profits over a positive public image Goldman Sachs becomes an excellent example of stockholder theory. Entitlement and Desert theory can be used to support stockholder theory. 3. When stock is purchased in a company that person is entitled to the profits or loses that those shares in stock are worth, entitlement theory supports stockholder theory in which stockholders are entitled to reap the benefits of stock as long as it has been purchased justly. Desert theory states that if the action is morally right, then the person should be able to reap the benefits and take the loses. Stockholder theory supports this as being a stockholder in a company is morally accepted, but if an unethical act is preformed in buy or selling stock Desert Theory would not support Stockholder Theory. When Martha Stewart was arrested for insider trading she demonstrated that doing an in-moral act voids Desert Theory. 4. Stockholder theory revolves around pleasing one stakeholder, the stockholders; Stakeholder Theory broadens up that view to try and please all of the stakeholders. The Ben and Jerry's company was a good example of Stakeholder Theory as they kept the pay differences between the CEO and lowest paid worker to only ten fold. Utilitarianism and Virtue Ethics Theory can be used to suppon company and benefit from the earnings that stock can bring. 9. Stockholder and Stakeholder Theory being vastly different become the extremes on a business ethics spectrum, between these lie the Kantian Minimum view and Rawlsian Position. Kantian Minimum view lies closer to Stockholder view, but the main difference is to not treat any stakeholder group as a mere means to a end. The Rawlsian Position lies closer to Stakeholder view in which life is not fair, but if you did not have knowledge in what position you would be in, you would choose the situation that would benefit your best interest. Upon overview of the four views the Rawlsian Position would be most ethically justified. It is benefiting from net happiness in which there is no vast difference between stakeholder groups, and there is also room for promotion between groups as all stakeholders are not even.

Nightingale's Nursing Theory Essay Example | Topics and Well Written Essays - 1000 words

Nightingale's Nursing Theory - Essay Example Her work and contribution to the nursing profession and medical care started thereof. As a reformist and a nurse, she became active in reforming the laws for the poor and was adamant in changing the conditions of the abysmal infirmaries or hospitals of that time. Among her most famous contribution was at the Crimean War. Ford (n.d.) discloses that Nightingale together with a group of nurses headed on to Turkey to help in the terrible conditions of the wounded British soldiers. With Nightingale's leadership, the nurses worked relentlessly to improve the living conditions of the wounded soldiers. It was in that same time that she was famously dubbed as "The Lady with the Lamp" by the British soldiers as she worked day in and day out to help them. She was also the first person to use statistics in the medical studies such as the high child mortality of those times. Nursing theories are the concepts and theories behind the nursing practice. Technically, Florence Nightingale never constructed a nursing theory, but her works and journals during her lifetime were treated by her predecessors as such. Her contemplations and deliberations on the apt standards of nursing were exquisitely described in her work entitled "Notes on Nursing: What it is and what it is not." Here, Nightingale's (1860) theory on nursing evolves around the concept that the patient's recovery is highly related to the conditions of his environment. The environment of a patient has a direct effect on his recovery or his deterioration. According to Nightingale, "Nature alone cures." With that she stresses on the healing properties of the physical environment of the patient; fresh air, light, warmth, cleanliness and a suitable diet. The environment not only refers to the physical aspect but also to the psychological and social environment surrounding the patient. Healthy communication with the patient and healthy environment keeps the patient's mind active and stimulated. Here Nightingale stresses that communication should be soothing and a form of therapeutic aid to the patient's suffering. How the nurses interact with the patient, may it be verbally or non-verbally also plays a role in the patient's recovery. They were to give comfort and ease the patient's suffering. She adds that there is a need for social awareness or social education on the disease of the patient, his family or the immediate people of that environment. The primary purpose of Florence Nightingale's nursing theory is to give nursing professionals indications on how to be effective in their chosen career. That is, nurses are there to control the environment and give the patients their basic needs to aid patients in their healing process and achieving their former strength. Nurses are not only to be focused on controlling the environment for the patient, but also in disseminating helpful information about the important aspects of the disease to the patient, the family and immediate community. Within Nightingale's nursing theory are the assumptions that are significant to applying the theory. First and foremost, Nightingale stresses on the need to understand that a disease is a reparative process. An inflicted goes through the natural healing process and those sufferings are indications of the body healing itself. The patient then

Sugar Cane Essay Example | Topics and Well Written Essays - 1250 words

Sugar Cane - Essay Example Probably the most vital contribution of understanding the origins of the plant in world history is recounting the suppression of Africans who became slaves in the pursuit of supplying the needs for the plant's products. Sugar cane has been known for at least 2200 years dating back from the rise of Alexander the Greta when his army saw the plant during the conquest of India in 326 BC (Purseglove, 1979). The discovery of Arabs and Greeks on the potential of sugar cane juices to substitute to the popularly used honey was a turning point to the spread of the plant. Western expansion of Arabs in the 7th and 8th centuries marked the introduction of sugar in Europe and the West (Heiser, 1981). It is a sub-tropical and tropical plant that grows well on spots with robust supply of sunlight and water - so long as the plant's roots are not waterlogged (Deerr, 1949). Purgloves (1979) accounts that sugar cane was originally grown for the sole purpose of chewing in vast territories of Asia and the Pacific. The rind was removed and the internal tissues sucked or chewed to extract the sugar and juice contents on it. According to the account, production of sweet products of the plant by boiling the cane juice was f irst discovered in India, most likely during the first millennium BC. It is in the purpose of this paper that sugar yield would characterize the sugar cane products to focus on the economics of the commodity on which the plant has been primarily known and used due to its properties to produce a sweet substance in whatever form. Processing of sugar canes whether following the old procedures or the present modern technique starts with harvesting. Harvesting of the sugar cane is done through chopping down the stems. Where possible the cane is fired before harvesting to remove the dead leaf material and some of the waxy coating. The fire burns at quite high temperatures but is monitored to last only for a short period so that the cane and its sugar are not harmed (www.food-info.net). Harvesting is done by hand during the earlier days but has been done with machine beginning 18th century. First stage of processing is the extraction of cane juice. Boiling was the main extraction procedure during the 15th century (Purseglove, 1979). With the upgrade of processes before the 19th century, extraction of sugar cane juice included the removal of excess water through the use of machines and cleaning up the juice with slaked lime (www.sucrose.com). As with the traditional way, evaporation comes next in the process by thi ckening up the juice in the syrup by removing the water through boiling. In earlier years, leaving it as syrup or drying up the water under the sun or through steaming and having unrefined crystals would have sufficed and the process of producing the end product would have ended (Heiser, 1981). With the advent of machines, even the simple traditional ones, crystallization takes place through painstaking procedures of boiling. After making the product fit for storage, affination comes next to continuously refine the end product characterized to be primarily as sweetener. The end

Comparing Two Artists Essay Example for Free

Comparing Two Artists Essay Magritte uses minimal dull colours though he changes tones within his colours to create shadowy effects and also creates a layered element contributing to line within his artwork; the horizontal layers between the background make the vertical lines of the owls stand out in the foreground of his artwork. Magritte is known to not leave hidden messages within his artwork, cleverly painting the reality he see’s. For this particular symbolic painting Magritte uses oil on canvas, the sharp detail he uses in his brush strokes make the image look real but not real at the same time. His witty version of reality he paints fall into surrealism, although his artwork include symbolic owls his painting is clear, interesting and well defined, he wanted his viewers to look at his painting and appreciate what is right there, not leaving them wondering why or what it means, because everything he wished to portray is right there in the artwork. Owls symbolize wisdom. In many cultures they are believed to be able to see all things that are usually hidden quite possibly fears. Magritte uses these owls to represent as an ancient human fear or the owls are the companions of our ancient fears, the birds growing from the soil may represent the ‘roots’ to our fears. In comparison to Magritte, Peter Booth’s artwork ‘Untitled 1976’ displays an image of apocalyptic shock, at the same time Booth includes his painful personal experiences and his view of humanity. This is evident when he uses harsh and cold colours to represent the apocalyptic vibe he sends through his artwork, the tones are very similar within each colour although when looking at the whole painting the contrast between the different colours is quite prominent leaving a cold feeling for his viewers to feel. Line has most strongly been used to create the strong horizon line and hence fore-middle- and background. The thin repeated lines of the fire and sky create pattern and simulated texture. The texture of the paint Booth uses to illustrate the industrial side of his landscape maybe suggesting he had a rough childhood. The shape of the figures in Booth’s artwork are all out of proportion, implying they could be apart of his hazy memory or hallucination, and this is how he remembers them. Booth uses gouache on paper for this particular artwork his intense brush strokes create perspective on his painting, guiding his viewers to understand and follow where he directs them. His work is characterised by an intense emotional power of often dark narratives, and esoteric symbolism, this artwork also reflecting on his nightmarish dreams which categorise him in surrealism, as he works closely with the element of surprise or shock difference. The colours he uses are symbolic to aspects of his childhood growing up in the industrial surroundings.

Essay --

Jefferson Finis Davis was born on June 3,1808, in ____ Kentucky. He was the tenth of ten children. Davis was named after the third president of the United States of America, Thomas Jefferson. During his childhood Davis moved twice; he moved at the age of 3 to St.Mary Parish, Louisiana. Less than a year later he moved to Wilkinson County, Mississippi. Three of his brothers served in the war of 1812. He began his education in 1813 at Wilkinson Academy, near the family cotton plantation. Davis Later attended a catholic school called Saint Thomas. When he was there he was the only protestant student in attendance. Davis went on to attend Jefferson College in Washington, Mississippi, in 1818, and then attended Transylvania University at Lexington, Kentucky, in 1821. His father Samuel died on July 4, 1824, when Jefferson was 16 years old. He attended the United States Military Academy starting in 1824. He was placed under house arrest after his involvement in the eggnog riots. In June 182 8 he graduated 23rd in a class of 33. Following graduation, Second Lieutenant Davis was assigned to the 1st Infantry Regiment he was stationed at Fort Crawford, Prairie du Chien, Wisconsin Territory. Zachary Taylor had recently been placed in command of the fort when Davis arrived in early 1829. Davis returned to Mississippi on furlough in March 1832 this was his first leave since arriving at the fort. The Black Hawk war broke out while Davis was still in Mississippi. He quickly returned to the fort in August 1832. At the end of the war, Colonel Taylor assigned him to the transportation of Black Hawk to prison. Davis soon fell in love with Sarah Knox Taylor, his commanding officers daughter. They pursued Sarah’s father for permission to marry but he... ...inted and then elected to the U.S. Senate. He resigned his position to run for Governor of Mississippi. Although he was not successful, he was ultimately named Secretary of War under President Pierce. He went back to the Senate in the 1840s and remained there until Mississippi seceded January 9, 1861. Davis waited for official notification and addressed the Senate on January 21, 1861 calling it the â€Å"saddest day of his life.† He returned to Mississippi. Davis was first named as Major General for the Army of Mississippi on January 23, 1861 and then elected as Provisional President of the Confederate States of America and inaugurated in February. He was selected because of his military and political background. When Virginia joined the Confederacy, Davis moved the Capital to Richmond in May 1861. By November he had been elected to a full-six year term as President.

Communication Strategies Team Assignment

The team at Health and Wellness America will develop a 4-point communication model to reach and effectively convey information to the four major generations. Our company will use four primary tools: coherence, consistency, continuity, and complimentary, along with the understanding the importance of connecting with the target audience. We will also provide Phoenix Health Systems with multiple examples of successful industries that have been able to leverage transparency, along with a plan to apply those transparencies to your strategy. Communication Strategies for Different GenerationsDetermining the target audience and what information we are trying to convey IS essential to communicating effectively. Once the target audience is identified, the method of communication can be established. The target audience for new diabetes clinic within a hospital will be anyone who suffers from diabetes or has family and friends with diabetes. Different methods of communication will be imperative because of the wide range of people diabetes affects. Diabetes can strike anyone from any background, ethnicity, age, gender, and socioeconomic status.Health education and social arresting are the two major types of communication that will have the largest impact on such a large and unspecified audience. Education is an essential component of action to promote health and prevent disease. Campaigns, to promote healthy lifestyles and preventative health services, have been a fundamental tool since the sass's (Nutmeat, 2000). Promotions are appealing to the older generations, such as the baby boomers, who still investigate reading materials such as pamphlets and medical literature in the waiting areas of their primary care providers. Understanding differences teen the generations is fundamental in building a communication model that is not only effective, but efficient (United Nations Joint Staff Pension Fund, 2014). For each generation, there are particular experiences that mold speci fic preferences, expectations, and beliefs (Sloshes, 2012). Traditionalists: are indirect communicators, and respect a more traditional approach and often do not respond well to the jargon used to attract other generations.Communicating with this generation may require some probing and will need some written communication to aid them. This generation will also require some face-to-face approaches to help gain their trust, loyalty, and understanding. It is important to make traditionalist feel comfortable by communicating in a formal manner that is respectful and serious (Sloshes, 2012). They do not respond well to sales pitches. The use of newspapers, television, radio, community mailers and other written communication will be a beneficial when communicating a message to large groups of traditionalist.Baby Boomers: This generation has some characteristics of the traditionalist generation; however, they possess ample knowledge Of tech oenology but would refer a more personal style of communication over an impersonal approach. Baby boomers do not like feeling like they are being told what to do; they would rather have detailed information to help them make the decision on their own (Sloshes, 2012). Baby boomers tend to need both traditional and non-traditional forms of communication to communicate information effectively.Generation X: This generation prefers online forms of communication and interaction. E-mail is the preferred medium. Generation X will also want to ask questions so using electronic forums, blobs, tutorials, ND other online tools, this will be an excellent strategy for communicating (Sloshes, 2012). Generation Y: This generation is very high tech and responds well to social media (Sloshes, 2012). Illusionist about every form of electronic communication tool will be a useful asset when addressing Generation Y.This generation does not accept just one main source of information, they prefer to do research and establish facts through other outlets. We can also expand our education via social media and networking sites such as WebMD and other online medical journals. Interactive communication such as lately eating demonstrations and health and fitness expos in the community will appeal to the younger generation while also allowing the target audience to be more proactive about the treatment and maintenance of diabetes.Reaching Targeted Audiences Our company will use four primary tools: coherence, consistency, continuity, and complimentary, along with understanding the importance of connecting with the target audience. Coherence: Media is the logical thought when trying to spread the word about the clinic opening and why patient should seek treatment for diabetes. When targeting the traditionalist and baby boomer enervation' social media will not be the main form of communication. While their loved ones from the X and Y Generation rely heavily on the use social media as their primary form of communication.Older generations tend to respond positively to television advertisements, pamphlets, and print ads. When using those forms of communication it will be important to show risks, concerns, complications, statistics, and what sets the new facility apart from other diabetes clinics. Younger audiences will respond more positively to information displayed on social media. The message to younger generations ill need to place an emphasis on cost, signs and symptoms, and treatment increasing quality of life.It will also be important that other relatable electronic resources are provided, so the more tech savvy audiences can conduct research and ask relevant questions. Consistency: It is crucial to be consistent when delivering the hospital's mission and vision through multiple communication channels. Continuity: Conveying a message of continuity will give the targeted audience reassurance and confidence in the services being provided. Complimentary: using the different avenues across multiple littorals of social m edia, print, and television advertisements will help grow a wider audience.Hosting community events and wellness checks will also promote brand recognition and trust among the community. Leveraging Transparency Today's healthcare is complex; it involves leveraging population health programs to make a greater impact on the community health issues (EACH, 2013). Some healthcare industries have launched diabetes program successfully with a push towards transparency. Examples of such industries or organizations include: Gosling Diabetes Center, Inc. , Good SamaritanHospital, Northwestern Memorial Hospital, the American Association of Diabetes Educators, Leapfrog Group, Health Consumer Powerhouse, the University of Miami and Vanderbilt University. Northwest Memorial Hospital: Northwest Memorial is committed to meeting the health needs of Chicago, as well as the community surrounding it for 150 years. Northwest Memorial Hospital has also partnered with community healthcare organization for the last 40 years. Teamwork has aided the successful tackling of the health needs of the community including chronic diseases such as diabetes, helping to munch the Diabetes Collaborative Program.This comprehensive program initially started with 200 patients in 2006, through a collaborative effort of Northwestern Memorial, the School of Medicine at Northwestern University Fingers, as well as the Near North Health Services Corp. (NM, 2012). The goal of the program is to identify and educate adult type two diabetic patients about disease management. The program currently tracks over 4,000 diabetics currently engaged in routine examinations and care. It provided materials for health education in English as well as Spanish.The materials re designed to increase patients' understanding regarding the disease, proper eating habits, diet, as well as the significance of routine checkups (NM, 2012). Vanderbilt University: Vanderbilt program aims to improve chronic disease management, high-ris k transition, care coordination as well as high- cost patients, who have diabetes, hypertension, and congestive heart failure. Most of the patients are Medicaid and Medicare beneficiaries who live in 18 urban and rural counties in Kentucky and Tennessee. It is funded with $1 8,846,090 and the estimated savings within three years is $27,269,705.To improve the management of disease, Vanderbilt has built inter-professional health teams as well as improved health information technology (HIT) which includes disease registries and clinical workflow involving an evidence-based decision support. This has increased communication and care planning. The resulting outcome has been; improved coordination of care, reduced hospital admissions, as well as readmission and emergency room calls and visits (SMS, n. Applying Transparency There are five simple steps to apply transparency successfully in the new diabetes program much like other organizations have.The first step is to increase staff knowle dge and confidence. The second step is to provide physicians and nurses with guidelines for diabetes management. The third step is to improve education and clinical management for inpatient and outpatient clients. The fourth step is to establish interdisciplinary teams. The team's specific activities include the establishment of diabetes care goals, clinical staff education, and quality improvement activities designed to evaluate diabetes management. The final step is to develop a marketing team to communicate the clinics services and healthcare opportunities.Conclusion The process of successfully launching a new diabetes clinic will continue long after the clinic open and fully functional. Communication strategies will need to be in place for many different circumstances. Over the course of roughly 12-18 months, Phoenix Health Systems will be aided by Health and Wellness of America to institute the 4-point communication model to reach and effectively convey information to the four major generations. The use of coherence, consistency, continuity, and complimentary communication strategies will help deliver information to the masses in the most efficient and reentrant way possible. 2 nt Needs. NTfneeds

Sony-Ericsson Case

The reasons for this are of course numerous. One of the reasons was that both companies only had a minor market share, Ericson 10% and Sony 1,5% of the world market, whereas as the leader Nooks had 30,6%. This giving Nooks a huge advantage in existing customers as well as strong brand awareness. Another main reason for the fusion of both the mobile departments of the company was that both had problems in managing their departments. Sony had so many different sectors it was in that mobile was Just one more and was ;t paid enough attention.Ericson had the technology to be a leader, but they were always criticized for only being a group of engineers, developing good products, but not paying as much attention to customers desires as Nooks did. Therefore being significantly less successful than their Finnish rival. Both companies needed to restructure their efforts in the mobile development and that Is why it made sense for them both to start this partnership. Ericson would provide people and their expertise In telecommunications and Sony it ‘s expertise In consumer electronics products as well as $500 million.Both were able to cut costs significantly and still able to become a global player on this prosperous market In the future. 2) What was needed to succeed in this market? The main attributes that were needed to succeed in the market was the knowledge to develop in the direction of the technology that would be used in the future, as well as knowing and offering your customers what they were looking for. In fact one can say that Nooks did everything one needed to do to succeed. They listen to what their clients where looking/expecting from their mobile phones, and built a product portfolio accordingly.Due to this approach they were able to offer a specific product to every customer profile they had. Concerning technology they also did good work being the clear leaders In the 26 markets, which gave them a age head start. The management also did an excellent work, having a better-cost extra effort on not becoming a huge corporation with 100,000 employees, staying rather small gave them the advantage that decision could be taken quickly and that changes and adoptions to the products were able to be done immediately. ) Compare Ionians and Sony Ericson Mobile Communication's situations (activities, competences, finances) SEEM had a clear goal, which was to become the global number one player for multimedia products. This was supposed to be achieved by combining their forces in R&D, marketing, sales, distribution and customer services. The Joint force should give them the resources to overcome their seemingly untouchable competitor Nooks. The soft activities they were planning and adapting were: being responsive to the market, analyzing the behavior of the consumers and of their competitors.Nooks on the other hand wanted to keep their activities in the mobile sector at the same high level they had been over the sass's, strengthening their p osition in the market today and constantly investing in R. Even increasing the percentage of net sales being reinvested to R, which were around 8,9% in the late sass's, the goal being to maintain the strong market position for the 36 generation phones. From a financial point of view, we can only compare the individual financial statements of Ericson, Sony and Nooks from the appendix of the case.In a first look at the data available we can deduct that the financial situation of Nooks is clearly the most advantageous one. To be able to analyses financial statements that are comparable, I will only look at the ones of Nooks and Ericson. The Sony Corporation has so many different activities going on that from this financial statement I can't detect which revenues are from the mobile industry. The only observations I would like to mention about the company is that their revenue has been increasing over the years, but net income has been decreasing.This showing that in the core business w e are talking about Nooks has made the biggest step by increasing net sales in this sector by offer having a 80% growth per year between 1998 and 2000. These numbers are also reflected in the market share Nooks has on the world mobile market. 4) What are the potential risks for this alliance? The risks for this alliance are of course numerous. First of all Sony Ericson has to find a proper way to communicate to the public/customers why they have merged heir mobile departments and explain what profits this results in for them in the tend to which to other brands.This is the main risk, that they have to manage, which has to be dealt with proper attention and experienced marketing experts, so that a clear message is sent out to the public and current/future customers. Another potential risk is the management that consists of managers from both Ericson and Sony. It provides conflict potential when two corporate cultures clash. Managers from both sides are used to doing business their wa y but now they have to adapt to the managing methods of one another.This might make it difficult to find a common strategy, with which they want to market their brand. The responsibilities and decision fields have to be clearly defined to avoid these kinds of occurrences as good as possible. A further threat would be that both sides could quickly get frustrated if results are not as good or worse than expected. This could lead to one accusing the other of bad management, insufficient research and so on, resulting in a bad atmosphere in the company. This would further complicate the merger and might even lead to the decision to go separate ways again.

upper room essays

upper room essays When an artist displays a work of art in a public place such as Battery Park City, he or she must take into consideration the degree of interaction that may take place between the public and their work of art. When I spoke with the artist of The Upper Room, Ned Smyth, he explained his intention of the publics interaction with his sculpture was to be both physical and emotional. In this paper, I will discuss the different issues that have made his intent a success. First, I will address the impact that the physical appearance of the work has on the public, and why. The Upper Room is constructed from concrete with inlayed stone and glass mosaic. It is a large-scale sculpture, yet it is very welcoming to the eye of the public and not overpowering. The sense of feeling invited into the piece comes partly from the pastel pink color of the concrete and the mystery of the mosaic pattern that is inlayed into it. The artists dynamic use of space also creates an inviting aura. There are steps leading up to a colonnade, which is not attached to an actual building. This is unusual when studying the history of architecture. The entire room was created by a series of surrounding columns, none of which are attached to any sort of wall or ceiling. The artist explained to me that he wanted to create an interior "room" as a part of the exterior environment he was given to display his work in. He wanted to create a space, rather then to create an object. He chose not to have an enclosed area, because that would make the work separate from the environment and the people in that environment as well. The space in which The Upper Room is displayed is an important issue when discussing the physical and emotional interactions of the public. The sculpture is located in Battery Park City, at the end of Albany Street at the Esplanade. As people walk along the path, they can visually see the sculpture, which is off to the side. It ...

DIS4, 6, 8 Essay Example | Topics and Well Written Essays - 1250 words

DIS4, 6, 8 - Essay Example Be prepared to discuss. From the first e-Activity, note that the GAO could not issue an opinion on the financial statements of the US government. Evaluate how this could occur considering the requirements of OMB Circular A-123. What steps would you take to alleviate the internal control problems? Differentiate between the requirements for internal controls in government agencies and those in public companies.      As per the requirement of OMB Circular A-123, we can understand the changes took places created much vulnerability in financial reporting system. This emphasized more on the term on â€Å"Internal Control† from the term â€Å"Management Control†. This may exclude many facts which should have reported earlier with obligations. In new requirements â€Å"Defines materiality for the purposes of assessing and documenting internal control over financial reporting†, this option can create loop for many important facts and figure than clearly presenting it in the financial reporting. It has created ambiguity for three different processes, they are: a) security across the government, b) improper payments and c) tax collection activities. To alleviate the internal control, the expense item I would prefer the bring in clear consideration withdrawing the category as reportable status. Clarification on money outflow has to have precisely documented while audited and clearly noted to uplift the fairness of the internal control. There are differences between government agencies and public limited companies. As the objective of report is to assess the clarification being involved in direct transactions, whereas the agencies are the external parties to report have differences in revealing the accuracy asset management revelation. DISCUSSION 2: "Expenditures" Please respond to the following: Under pressure to balance their budgets, governments at all levels have resorted to fiscal gimmicks, such as delaying the wages and salary of government em ployees from the last day of the month to the first day of the following month. In the year of the change, they thereby had one fewer period to pay.   Determine how such a change would affect the reported expenditures of a governmental fund under GAAP. Provide specific examples to support your response. Evaluate the impact of GASB Interpretation No.6, Recognition and Measurement of Certain Liabilities and Expenditures in Governmental Fund Financial Statements on the accrual and payment of the salaries. This expenditure would be accrual for the immediate period of time and then next year upon payment the accrual payable would be reported. This report will be more accumulate big accrual means there is irregularities of payments and the liabilities will move high showing lesser efficiency in the transaction handling. A government allowed accruing or additional fund liability and expenditure provided any financial resources or debt services for payment of liabilities that will be matu re in following year. This indicates under GASB rule is that the time provided is limited and the term early in the following year refers to a short time period –usually one to several days and not more than one month. Liabilities for compensation and claims of salary are generally expected to be liquidated by the available financial sources. If delay it should recognize as governmental fund liabilities against mature payment for each financial period. Unmatured liabilities like compensated absent do not

Summary Essay Example | Topics and Well Written Essays - 250 words - 85

Summary - Essay Example The authors provide useful information by indicating that minority ethnic groups are usually alternative consumers because they have a different culture compared to the mainstream population. The authors indicate that migration usually leads to increased presence of minority ethnic groups within a country. These groups are important, making it fundamental to consider their needs during marketing. In order to reach them, the marketers must embrace marketing strategies that are different from the macro community in the same country. In order to reach out to the minority ethnic groups, the marketers should apply procedures that several companies use when dealing with ethical problems. However, one may question such an ideology based on the divergent opinions from scholars and technocrats. It is impossible to apply organizational techniques to address the marketing needs of minority individuals. It is worth restating that failure to formulate comprehensive techniques would only lead to collapse of a marketing