Friday, September 6, 2019
Child Rearing in the Us and Colombia Essay Example for Free
Child Rearing in the Us and Colombia Essay Early care-giving is a major factor for a child to feel secure to explore the world around them (Carbonell, Alzate, Bustamente Quiceno , 2002). How different is this early care-giving between two cultures such as the United States and Colombia? This is a look at the differences and similiaries of raising girls, both born in 1988, in Colombia and the United States. Both girls were raised in nuclear families, with one older sibling, close enough in age to be a major part of each girls daily life. One was raised in Colombia, although she moved to the United States at the age of eleven, while the other was raised completely in the United States. Both parents of each girl were interviewed as well as the girl herself. The basic stepping stones, the times that parents love to videotape, the babys first moments all seem to happen relatively similarly in both girls. Self-reported by Paulina, was that she walked around the age of ten months. Similarly, Jane walked at the age of ten months. Both were somewhat delayed in speech, enough so to be taken to doctors. In each case, the parents were told that the child would speak if the family stopped following the non-verbal directions from the child. Paulinas first words were eso, Spanish for that, and Ma. Janes first word was Ah-yah which was meant to be Alex, her brothers name. Paulina stood alone at the age of eight months (personal communication with subject), as did Jane (personal communication with subject). Punishment is something all parents must figure out. Hispanics tend to mollify children and be more lenient (Figueroa-Moseley, Ramey, Keltner Lanzi, 2006). Hispanic parents tend to try to calm their child rather than work towards developmental goals, which tend to be more valued in the United States. Neither girl was punished in the form of grounding, but both were warned with simple looks from their parents, such as glaring and both girls were yelled at as well. Corporal punishment was used for each girl as well. Paulina was smacked, and Jane was occasionally spanked. Jane would be sent to her room or made to sit in a chair as in a Time Out, however Paulina never experienced a Time Out and recollects that such a thing was not common in Colombia. Both girls were raised to speak their mind, and not wait to be spoken to, as long as what was said was respectful. Questions were welcomed by both families, but the girls were expected to know the time and place in which to ask questions. Each girl was also allowed to pick out her own clothes, which has been shown to be good for children, as children see it is important for them to make some of their own decisions, and identify with the choices (Ardila-Rey, Killen, 2001). Paulinas mother tried to teach her what matched, but eventually gave up trying when it, although Colombian mothers tend to worry about the outward appearance of their children (Carbonell et al, 2002). When asked what Jane would choose to wear, Janes mother replied, Anything that didnt match, although she, too, tried to teach her daughter matching. No major restrictions were set upon either girl, except to be respectful. Respect was emphasized in both situations. As respect was emphasized from child to adult, so was it shown from adult to child. Both children were kept informed of what was happening in the family. Children were expected to be a part of dinner conversation and were allowed to participate in the adults lives. Also, both children were given reasoning behind decisions and had things explained? because I said so was used only when the situation would be later explained, and the consequences of an action were described rather than a mere dont do it. Chores were a part of each girls life as well. Both were expected to do what was asked of them to help around the house dusting, vacuuming, clearing the table, etc. Jane was expected to help with dinner, which included getting food from the refrigerator, carrying things to the table, loading the dishwasher, setting the table, and occasionally stirring. Jane was given an allowance of approximately five dollars a week, but this was never in exchange for doing her chores. Paulina, too, was not paid for doing her chores. She states, I was part of the family and therefore I was expected to work in the house without any sort of reward (personal communication, April 10, 2007). Colombia tends to be a collective society that looks to the benefit of the group, rather than the individual (Pilgrim, Reuda-Riedle, 2002), which applies to this situation in that Paulina was expected to help keep the house in order, without ? payment because it was for the greater good of the family, being part of the group is an important aspects of a collective culture. Family relationships and interdependence? a common bond between family members, working together for the benefit of the family? tend to be much more emphasized in Hispanic cultures (Carbonell et al, 2002). A major part of any culture is food and dining, and children are a part of that. Children often lose some of their appetite between ages two and six, and because parents worry, bad food habits are put into place. Sugary foods are offered if a child finishes a meal, and many foods have vitamins and nutrients added. However iron, zinc, and calcium are seen to be deficient because juices and sodas are replacing milk, and cereals and processed foods replace fresh fruits and vegetables (Berger, 2006). It is also hard to maintain good eating habits during this age, because children often need meals to be just right. Children have very determined ideas for what should be eaten, how it should be eaten, and the entire situation surrounding the meal. Often times the food required is not healthy food, but rather sugary or similar to fast-food, like chicken nuggets or French fries. Paulina ate dinner together with her family every night, generally at eight oclock, as is customary in Colombia. Her mother did most of the cooking, and after dinner, either her mom would not clean up, or her mother would, but with the help of her daughters, while her father did other household things. On weekends, most meals were eaten together. Breakfast was generally around ten oclock in the morning and lunch was around three oclock in the afternoon. Very few times, her father would cook, although he cooks more now that they live in the United States. Food was as healthy and fresh as possible. Snacks were fresh fruits, and there were never packaged foods in the house. Jane would eat dinner with her family as well, often around seven oclock in the evening, when her father came home. She would eat breakfast and lunch with her brother until this was no longer possible because of school. Janes mother did most of the cooking, and the children were expected to help. Snacks were often dry cereal like Cheerios, apples, crackers, or cheese. Paulina started learning numbers and how to read and write at the age of four, when she went to preschool. The debate of how children should be taught to read can be broken into two sides; phonetics and whole language (Berger, 2006). Phonetics looks at each sound of each letter, while whole language, encouraged by Piaget, says that concentrating on the goal of fluency and communication is more important than individual words (Berger, 2006). Jane also attended a preschool at the age of four, but it was not as much structured, formal schooling. Both were taken to a part-day day-care or nursery school for the opportunity to socialize with other children. While at nursery school, Paulina was mostly made to play with toys. Jane attended a Co-op nursery school at a Unitarian Universalist church. In a Co-op nursery school parents take turns coming into the school to help supervise stations and participate in the nursery school experience. Stations were set up, such as a Reading Corner, Snacks, and a daily feature, such as tracing bodies on large sheets of paper or crafts. Co-op nursery schools are not typical in the United States, but Janes parents thought it was important to be involved with their children when possible and for their children to have the socialization experience. Both were read to everyday. Jane was read to a two to three times a day, for about fifteen minutes each time, but also had labels, signs, and anything printed read to her during everyday life. Jane was occasionally, but not often spoken to in Baby Talk, while Paulina was never spoken to in Baby Talk, as her parents thought speaking to her regularly would help her learn to understand. Both parents acknowledge that their children were not raised in a way that is typical to their individual cultures, and that is evident looking at the two girls in adolescence and early adulthood. Both girls realize that because their parents were stricter when they were young, that as the girls grew older; their parents didnt need to be as strict. Each girl knew what was expected of her and was therefore given more freedom as she matured. Many times this appeared to friends as though the girl could do what she pleased, although this was not the case. The girls knew the limits of what they could do without being told. Both sets of parents relied more on their trust in their daughter than blatantly telling her what she could or could not do. Obviously, there are some differences and some similarities between raising children in Colombia versus the United States. Developmentally, the children seem to be similar, and most of the parenting is more alike than different. References Ardila-Rey, A. Killen, M. (2001). Middle class Colombian childrens evaluations of personal, moral, and social-conventional interactions in the classroom. International Journal of Behavioral Development, 25 (3), 246-255 Berger, K. (2006). The Developing Person: Through Childhood and Adolescence (7th ed. ). New York: Worth Publishers. Figueroa, C. , Ramey, C. , Keltner, B. , Lanzi, R. (2006). Variations in Latino Parenting Practices and Their Effects on Child Cognitive Developmental Outcomes. Hispanic Journal of Behavioral Sciences, 28, 102-114. Pilgram, C. Rueda-Riedle, A. (2002). The importance of social context in cross-cultural comparisions: First graders in Colombia and the United States. The Journal of Genetic Psychology, 163 (3), 283- 296. Posada, G. , Jacobs, A. , Richmond, M. , Carbonell, O. , Alzate, G. , Bustamante, M. , Quiceno, J. (2002). Maternal Caregiving and Infant Security in Two Cultures. Developmental Psychology, 38 (1), 67-78.
Toy Business Plan Essay Example for Free
Toy Business Plan Essay 1.     executive summary This project proposal is being submitted in fair view of globalised businesses and the success it has achieved. Internet technology is enabling to the growth of SMEs apart from multinational businesses. There is greater scope for new opportunities with optimized skill and knowledge invested as the basic requisite to begin any venture. Times always change and so also generation of entrenpreneurs. There are many advancements in the present technology times, the present generation of people are much faster, quickly grasp and in possess potential abilities at a young age to start off businesses on ownership. On a single platform there is a rapid growth of business with the skills and expertise knowledge in a particular field. There are many developments, changes happening around the world and essentially among all financial independence is the most important in order to live well. With this view, after coming to an understanding, that people who possess excellent business skills and have adequate knowledge to run a business, this business plan of toy currency has been prepared with a motive to serve customers and to provide employment to other people as an income source. Toddlers are the precious customers who are going to making this business much bigger. Toddlers are most individualistic in perception, who do not permit others to involve in play time. Toy currency is being extended to children who are one year old or above who can learn and understand about currency coins, denominations and how it is counted and used. Although the idea of money is a big word for children who are one year old, pronunciation of dollar currency, learning about denominations, counting currency are some of the basics that are being promoted to children. Objective 1 Objective Time frame  ·Ã‚        Dollar currency An excellent product.  ·Ã‚        Educational toy for children Business that can tap toy market.  ·Ã‚        Age group 1year and above Returns in a span of 6-12 months Objective 2 Objective Time frame  ·Ã‚        To entertain and educate children.  ·Ã‚        To market innovative and useful toy products 6-12 months  ·Ã‚        To be a leader in toy industry 3-5 yrs. cash flow graphic 2.     Introduction 2.1.  Purpose The purpose of this business plan is to start a dollar currency game for toddlers as a promotion of education. The proposed education game is non-hazardous and extremely attractive for toddlers as a tool for pre-school learning at home. This business plan requires minimum investment and minimum number of workers whereas its idea is to reach a large pool of customers on a global level. Although the business is not too motivated towards making quick profits, with the entrepreneurs experience and energy, this business would like to expand in future years on a consistent pace marking a reputation in the market. 2.2.  Description of the product/service Product distribution rights are freely available in retail chain and wholesale market apart from franchise outlets. However, the distributors and franchisees are expected to have a permit license to sell toys and also must abide by the legal terms and conditions that are provided by the company. Further wholesalers and retailers are not authorized to claim any legal rights about the toy apart from distribution and sale. The entire ownership and copyrights of toys rest with the manufacturing company. Further apart from consumer market, the toy would also be available for preparatory model schools, kindergarten and upper kindergarten schools. This is permitted in order to bring awareness among schools that such educational toys are also being promoted in order to make teaching skills much easier. 2.3.  Background The motive behind this business is to start an independent unit which is both useful and that sells all through the year without any halt. Both entrepreneurs have excellent business skills, one with a degree in MBA and the other with M.A (Child psychology) Both are of the view that launching an educational toy would be a massive success as this product is presently not available in the market and with this innovative idea, entrepreneurs are also of the opinion that the business would also provide employment to those who are jobless. Appendix I : Details of proprietors. Purchase of on-going concern is also a good idea, as most of the manufacturing equipment, office systems, and manpower are readily available for takeover whereas minimum operating expenses and start-up expenses are the only major expenses.  Another opinion is also stated here that a new set up of business is also a good idea whereas extra efforts and care is required until business takes its shape for start-off and take-off. 2.4.  Assumptions There are absolutely no assumptions that do not materialise or work in a practical manner. This proposed business being a mathematical and educational toy/game for kids; there are no misconeptions about the acceptance and success of currency toy/game in the toy market. 2.5.  Definitions Toy dollar currency : This means that U.S currency in wood or plastic form is designed only for learning or for playing for little children. This currency carries no commercial value or resale value. Wholesaler : Wholesaler is a licensed toy seller who is authorised to distribute toy dollar currency game to retail stores, schools, educational institutions or any other place where pre-school training or learning is provided. Franchisees : Franchisees are those who enter into contract with the entrepreneurs that no other product franchise would be undertaken within the contract period and carry exclusive rights to market toy dollar currency at a global pace with the medium of Internet or through any other effective marketing tool under the disclosure of owners of business. 3.     GENERAL analysis 3.1.  Business Mission The mission of business is to promote healthy, innovative and knowledgeable products for growing generation. In this global arena, it is required that kids have to be in a learning environment which would shape kids in a better way in development of personalities. Globalisation has evolved several global businesses wherein every business produces a new product, new idea, new promotion and motive is ultimately to make quick profits whereas our mission is far distant to such speedy money sources. Business must extend a product that is useful to consumers and in return consumers take care of companies to grow and prosper which is the give-n-take policy of this business. In fact businesses must grow along with consumers which gives a complete satisfaction both to consumers as well to entrepreneurs. The purpose of this product is to assist kids to learn about dollar currency counting in the initial stages of learning. Especially toddlers taste every toy and find out what it is meant for. That is the origin of child psychology. Whether it is a candy or a toy, toddler identifies only by tasting it. Toddlers prefer exclusive premise for breakfast, lunch and dinner and so also for play time. At times, if there is a disturbance to privacy or interest, toddlers yell in order to tell how big and important the meal and play time is. In such instance, a think over plan is here to provide knowledge to toddler about dollar currency beginning from cents. This toy comes in a 30L x 15B box with a 3 steel/plastic rods fixed in it. Coins beginning from 1 cent to 100 cents are fixed to enable toddler to learn counting of cents.    The second rod contains coins beginning from 1 dollar to 100 dollars. The third rod contains coins beginning from 1 million to 100 million. The rods cannot be removed and neither the coins. The toddler can only push from one end to the other by counting cents, dollars and millions. Three colors are chosen for three rods and also for coins for easy identification of coins denomination. There is a provision for learning addition, subtraction, multiplication and division (BODMAS) whereas it is not a must for toddlers. The market served would be entire domestic market and also depending on the marketing methods, export of sales to other countries are expected. In the initial period of launch of product, the owners are expecting a good feedback from wholesalers and franchisees. The pricing of toy would be reasonable costing $5.00 and after when sales pick up in a span of one year or more, there is a probability to increase the selling price by another $1.00. Primarily the owners would like to tap success in toy market by launching this product and also with the motive to satisfy customers who are looking for such educational promoting product. Owners would like to consult parents, buyers and other distributors for feedback and also consider opinions about the product from time to time. Goal of business would be to run a self-sufficient business apart from offering employment to others, as jobs have become necessary particularly in a country like U.S where people are working 16-18 hrs per day doing two or more part/full time jobs, the owners believe that ‘live and let others also live’. Owners are also of the fact that, money making in business is important whereas customer satisfaction is equally important.  Many businesses in the past have proved this fact that ethics in business are very important in order to grow consistently and to stay in business market. Individuals who are educated and mastered the skills for doing excellent business can very well float a business independently instead of working elsewhere and as a matter of fact, there are many housewives and couples who have begun businesses in kitchen which have later grown to be multinationals which reiterates that skill, dedication and customer satisfaction are three variables that have to be looked into to enter business field. 3.2.  Business Structure and Management The proposed business would be a private limited company with two important entrepreneurs as the driving force behind the business plan.  The management considers the advice of business consultants, accountants and legal experts in order to incorporate a private limited company, establish manufacturing unit, and commence business with administrative staff viz., accountant, marketing manager, reception desk and skilled labor . While accountant would be taking care of complete financial system of company, marketing manager would be completely responsible for marketing the product and inform management on daily basis about the feedback and response from the market. Reception would be responding to enquiries for distributors, wholesalers, retailers and other educational institutions and provide complete information to management on every day basis. Workforce would be approximately less or equal to 10 individuals in order to manufacture plastic coins and rods, make carton boxes, arrange and pack and load into transport or deliver the product to the destination.  There should also be provision for trucks, drivers and helping boys to load cartons from one place to another. Further company’s web site neatly designed providing a complete set of information about product, facility for online purchase, email, enquiry form should be made available in order to tap online sales for the product. 3.3.  Market Environment Management is confident that the product would be very well accepted in the market and would increase sales in the first month of its launch. The reason for this assessment is due to the fact that there is no other isolated currency toy in the market at present whereas other games include business as a concept for the age group of above 8yrs which are called as ‘monopoly’ . This game encourages children to count paper currency, buy hotels, resorts, which explain children that business and personal income can be earned in various forms and methods by doing buying and selling with the medium of currency. Similarly, a toddler hardly when one year old, when begins to learn alphabets and digits, a concept of currency counting helps child to gain knowledge about money and how it is counted and what are its forms. This game faces absolutely no competition as it is the first ever toy that is being launched in market for this age group of one year and above especially when it is coming in educational promotion. This does not mean that educational toys are not available in the market. There are many for kindergarten for learning alphabets, maths, science and many other I.Q games and toys. This particular model of toy is not available in the market and with this stance, when a discussion was held, many toy market experts were of the opinion that toy price being moderately low, there is absolutely no question as to why the product cannot tap success and above all, all group of consumers would evince interest in buying this product as it was revealed in a survey. 3.4.  Plant Equipment Plant and equipment required for starting this venture is no more than $50,000 which includes operating expenses. Machinery for manufacture of plastic coins, embossing of currency in various denominations, colouring, printing and steel rods manufacturing machinery and machinery for making 3015 plastic boxes. This is the major equipment that is required in order to manufacture toy currency. 3.5.  Skills Assessment There is a consultant who is experienced and who is an expert in toy market especially in designing currency, who is hired by management until the commencement of business. The guidance of expert is proving to be the most precious for the management in order to train the labor to perform and produce the desired quality of toy. One of the owners is an MBA graduate who completely acquainted with business skills to motivate labor, and maintain good HR practices with workers and employees. Apart from this capital budget, finance budget and forecast of sales is also an expertise field of this MBA graduate entrepreneur. The other owner who is M.A in psychology understands and has the ability to promote this educational toy to schools and educational institutions for bringing awareness about toy currency and its important in development of child psychology. The importance of money can never be taken for granted and it is important for parents and society to train children as how to handle money matters and how a currency can be useful in day-to-day life. In a way, this can be described as teaching of money management for children. 3.6 Risk Analysis At present, owners do not foresee any risks in commencement of business. The SWOT analysis reveals that a great strength and energy exists with owners with the fact that an innovative product is being launched with a motive to serve and educate customers. This concludes another fact that motives matter most in business and good businesses thrive on honest motives. Apart from this, MBA graduate is fully conversant with business laws, legal and corporate laws. M.A child psychology helps even better to launch more number of good toys in the market which is also another strength of the making this business plan a success. There are no possible weaknesses in the business with the fact that both the entrepreneurs have a mixed strength and good motives. Unless there is a massive unforeseen loss or event that hampers the production of business, there is no scope for any crop up of weaknesses. Opportunities are many in toy market. In fact toy market is never saturated unlike other industries. There is always something new and also there is no end for demand and supply. Threats in toy market are although at a moderate percentage, the proposed toy currency is free from any hazards as the children cannot dislocate coins and have to sit at one place and play as long as the interest goes on. Record the SWOT details in Appendix:II 4.     operational plan 4.1.  Key Business Objectives Key business objectives in â€Å"SMART†system are as follows: S – Specific : To promote toy currency as a good product in toy market. The objective of the business is to promote educational products to children under the age of 5. Certainly the motive is not behind making quick money and rather serving customers useful products and definitely making a new pattern of design and mark in business. Therefore, there is a professional code in starting this business which is why the objectives of business are very specific. M – Measurable : The performance of business is forecasted to do extremely well with toy currency entry into the market. Initial sales volume is expected to sell approximately 10000 toys in the first 5 months of launch and thereafter there is a proposal to increase 1000 nos by every month. As this is only an assumption whereas when the product truly available in market, the sales are expected to rise above assumptions. In a span of three years, i.e. by 2010, the business is expected to be really doing well with a proportionate share of sale of product in the toy market. A – Achievable : The targets set before Achievable targets within the limitations of business. Depending on the orders that would be received from various distributors, the production would be made. Although, the start-up appears to be at a low pace, there is a guarantee that future targets would be quite achievable depending on the sales and order volumes recorded each year. R – Results oriented : This business is quite practical and extends knowledge and comfort to customers. There would be no difficulties or any problems that can occur with the usage of product. The product is absolutely result-oriented and there is a premonition that by the end of first month of production, there may be a requirement to double the production in order to meet the demand of product. T – From the very first day business , management is active working operations, collecting feedback, finding new customers, distributors, picking up of orders and paying more attention that quality of goods is perfect. Initially at the end of every month, there would be a trial balance, balance sheet for taking note of sales and profits. Once the financial statements are indicating good sales track and profits, quarterly PL and thereafter half-yearly and yearly. For any business to mark success, time is the essence whereas for this project, there are absolute guarantees for success with the fact that this is an innovative product being manufactured in the interest of future generation of children. Objective 1  ·Ã‚        Objective Time frame  ·Ã‚        Conduct a professional standard  ·Ã‚        Run an efficient business 1-5 yrs  ·Ã‚        Practice business ethics 4.1.1.                                                             Implementation Strategy In this stage of implementation, firstly the incorporation certificate is to be obtained that a private limited company is being incorporated with the name â€Å"Currency Point Pvt Ltd†The two directors would be Bill Joe and Charles who would be busy in commencement of business operations. A suitable location is to be selected for installing machinery to begin production. The premises would include both production and administrative office. Staff and workers have to attend regularly until orders are picked up. Advertisement through brochures, television, classified ads and websites would enable fast pick up of sales. Further designing of website and launching for marketing is also essential. Preparation of monthly sales report, marketing report, Income and expenditure statement and targets for future months have to be recorded on a monthly basis. Suitable guidance, training and advice must be provided to workers and employees in both administration and in production. It is also good to retain employees with the fact that frequent new appointments require excessive time in recruitment, training and guidance. Appendix:IV Development Brief description rationale Cost 2008  ·Ã‚        First year of commencement of business. The objective is to market product and record sales as much as possible 10000 2009  ·Ã‚        Market and sell the product and aim to record a higher sales volume. 20000 2010  ·Ã‚        Increase business volume by exporting and also open RD centre for working on new educational toys for children. 30000 4.2 Marketing 4.2.1Market Research According to the market research conducted, toy currency is not available in the market which is designed especially for toddlers between the age group of 1 and 1 ½ years. 4.2.2       Positioning in the Market There is zero competition from competitors as there are no companies which are manufacturing this product and in fact the management owns the complete credibility of the product from the groundwork till the launch of product into the market. 4.2.3       Pricing Strategy Pricing of the product is fixed at an affordable rate keeping in the view of both poor and middle class families. Toy currency is fixed at $5.00 as MRP price in the market. 4.2.4       Target Market The market focus would be all through the United States and Europe and thereafter marketing would be shifted to Asia, Africa and other parts of the world. Here at this, it is important to take note that if orders being booked for Europe, company management would consider the opinion of customers whether the toy currency should be indicated as ‘Euro’ for European buyers and so also for other parts of the world. It is true that toy is being manufactured in dollar currency, wheras if other global customers prefer regional currencies, a provision is included to manufacture according to the currency required. However, this is only a provision and not mandatory to meet as an obligation in order increase order supplies. Toy currency is aimed at entertaining toddlers whereas if it is entertaining upper age group, this business appreciates the interest. There are no limitations or no rules for customers to buy this product. It is displayed in retail stores for $5.00 and any number of volumes can be purchased with proper billing system. 4.2.5                                                   Distribution Licenced distributors for toys are permitted to distribute toy currency after signing a contract with the company. Depending on the orders, each distributor generates, fixed incentive would be paid. E.g. 500 orders per month would give an incentive of 0.25 cents x 500 = $125.00. This rate of incentive is also applicable for franchisees. Further franchisees are not permitted to promote any other product other than toy currency. 4.2.6                                                   Promotional Strategy Visiting Montessori schools, collecting data about distributors, franchisees, advertisement are some of promotional strategies. These efforts are made in order to market toy currency in various places. The company would like to stay focused with this product at least for a period of 3 years until business is stabilised. Further company promises excellent customers service, packing and forwarding , apart from good methods of publicity through door-to-door campaign, brochures and schools. 4.2.7                                                   Sales Targets The first year of selling is targeted to be at least 10,000 nos. The second year of selling is targeted to be 50,000 nos and the third year of selling is targeted to be 100000 and above. One of the reason to target an increase by 100 fold is the pricing of toy currency is at an affordable rate and it can purchased by every parent. 4.3. Financial Plan. 4.3.1       Start-up Capital Description Budget-Amt Incorporation expenses $ 1,000 Premises for Rent $ 4,000 Machinery $ 60,000 Installation $     500 Electricity and fixtures, fittings $  1,000 Raw materials $ 10,000 Miscellaneous $     500 Total $ 77,000 Loan financing $ 100,000 Here there is a margin of $ 23000 as a safe mode of operation in order to meet other expenses if any occur at the time of production. 4.3.3 Assessment of Financial Viability of Proposed Business Owners are not investing any amount and financing of $100000 is sought from SBA or from other FIs and the repayment would be yearly $ 5000 which would take 20 months to refund entire loan amount. The cost of manufacturing of each toy currency box at production level would be $4.00 and with a profit of $1.00 the product would be marketed in consumer market. This margin of profit if it is maintained, depending on the sales, the company can record huge volume of business even in the first year of business. For e.g. $ 5.00 x 10,000 = 50,000 (profit = S.P – C.P, $ 50,000 $ 40,000 = $ 10,000) If it is assumed that in the first 6 months on an average there is a sale of 10,000 nos the profit is $ 10,000 and this is after payment of salaries and expenses, which is reasonably good. Breakeven = Operating expenses / Gross profit margin Operating expenses Gross profit margin Breakeven 2008 $ 15,000  $ 20,000 0.75 2009 $ 10,000 $ 120,000 0.83 2010 $ 12,000 $ 220,000 0.054 4.3.4       Cash Flow/Cash Position  Cash flow on monthly basis is expected to be moderately good. It can be further calculated as on an average if there is a sale of 200 nos per day 15 x $ 5.00 = $ 750 and monthly cash flow would be $ 750 x 26 (exclude Sundays) $ 19,500. If this is carried forward on for 12 months $ 19,500 x 12 = $ 234,000. The proposed annual cash flow at the end of three years would be $ 234000 x 3 = $ 702,000. Out of the above, it is required to exclude salaries, tax payments and raw material expenses or any other expenses such as depreciation to machinery, rent and payment of electricity bills. 4.3.5                            Profit and Loss Depending on the sales, a forecast of profit is made approximately to $ 10,000 in the first year as $ 10,000 and for three years the profit would be $ 30,000. 4.3.6                            Balance Sheet The equity share capital which is invested to an extent of $ 100,000 is used in fixed assets and in commencement of business. 4.3.7 Ratio Calculations Profitability = Earnings after Taxes / Sales I year : 12000/100,000 = 0.12 II year : 28000/200,000 = 0.14 III year: 192000/300,000 = 0.64 Return on Assets = Earnings after Assets / Total Assets APPENDIX I – CURRICULUM VITAE OF DIRECTORS Name : Bill Joe Age    : 26 yrs Education : M.B.A from Kelloggs school of business. Experience : 2 years as Business executive in Stand Still Toys Ltd., Los Angeles. Skills Category Grading of Skills Underdeveloped        Well Developed List of relevant skill categories 1 2 3 4 5 Dynamic, energetic and potential abilities √ Excellent business and marketing skills √ Good and hardworking √ Name : Charles Age   : 26 yrs Education : M.A in Child psychology from St.Mary’s University, California Experience : 2 years as Schoolteacher in St.Paul’s model school, Los Angeles. Skills Category Grading of Skills Underdeveloped        Well Developed List of relevant skill categories 1 2 3 4 5 Dynamic, energetic and potential abilities √ Excellent educational skills √ Good and hardworking √ APPENDIX II – SWOT ANALYSIS STRENGTHS WEAKNESSES  ·Ã‚        Education and experience OPPORTUNITIES THREATS  ·Ã‚        Great scope for developing new toys. APPENDIX III – TIMELINE OF GOALS OBJECTIVES First Year Operation Development Brief description rationale Cost First year-2008 Establishing business  ·Ã‚        Production, marketing and selling. $ 100,000 Second year-2009 Pick up of sales  ·Ã‚        Increase in sales volume $ 200,000 Third year-2010 Stabilise business  ·Ã‚        Domestic and export market $ 300,000 APPENDIX IV – MARKETING IMPLEMENTATION PLAN BUDGET  Marketing Plan Implementation Plan Budget for MI First year-2008 Establishing business and reach out for consumers Production and supply of product in domestic market. $ 100,000 Second year-2009 Identify new areas Increase in sales volume $ 200,000 Third year-2010 Stabilise business Domestic and export market $ 300,000 Appendix V Cash Flow Projections Cash flow statement Sources of funds 2008 2009 2010 Beginning cash 40,000 50,000 60,000 Sales / Income 100,000 200,000 300,000 Contributed capital 100,000 Available cash $140,000 $250,000 $360,000 Usage of funds Salaries 15,000 25,000 30,000 Operating expenses 15,000 10,000 12,000 Loan payments 0 5,000 5,000 5,000 Tax payments 2,000 2,000 2,000 Total cash out $27,000 $47,000 $49,000 Net cash flow $140,000 $250,000 $360,000 PROFIT AND LOSS Profit and Loss Account  2008 2009 2010 Total Sales 100,000 200,000 300,000 Cost of sales 80,000 160,000 240,000 Gross profit 20,000 40,000 60,000 Expenses Electricity, phone and internet 1,000 1,000 1,000 Travelling charges 1,000 500 500 Marketing 1,000 500 500 Raw material 5,000 10,000 20,000 Net profit $12,000 28,000 $38,000 BALANCE SHEET Balance Sheet 2008 2009 2010 Assets Cash and dues 40,000 35,000 30,000 Machinery 60,000 60,000 60,000 Total Assets Liabilities Loan 100,000 95,000 90,000 Total Assets 100,000 95,000 90,000 Total Liabilities 100,000 95,000 90,000 References The Business Plan is not Just a Plan, but Selling a Document Accessed January 11, 2008 http://www.1000ventures.com/business_guide/bp_startup_byvk.html Get the most out of your planning by setting smart objectives Accessed January 11, 2008 from http://www.smartmonkeymarketing.co.uk/news.php?a=20070612-1-SmartObjectives Three year projected income statement Accessed January 11, 2008 http://www.state.co.us/oed/sbdc/business/threeyear.pdf NxLeveLâ„ ¢Ã‚ Entrepreneur Business Plans Accessed January 11, 2008 http://www.nxlevel.org/download/123321_c_sU128881_s_i1591/e+bp+sum.doc
Thursday, September 5, 2019
Sainsburys corporate governance and information disclosure
Sainsburys corporate governance and information disclosure This paper attempts to demonstrate the annual report of Sainsbury from its corporate governance aspects and evaluate the information provided in the annual report from 5 parts: the main corporate governance mechanisms, the ownership structure, the audit report, the audit committee, and the voluntary disclosures. 2.0 corporate governance mechanisms The chairman of the Board is Philip Hampton since 2004. It consists of three Executive Directors and six Non-Executive Directors. 2.1 Division of responsibilities between the Chairman and the Chief Executive Corporate governance of Sainsbury set division of responsibilities between the Chairman and the Chief Executive. The chairman is the leadership of the board. His responsibilities are designing its agenda and ensuring effectiveness of the board. Also the chairman of Sainsbury keeps communicating with shareholders effectively because the Board must know the opinions of major shareholders. In addition he makes sure that the Chief Executive could get a strategy, which must be supported by the Board as a whole. Furthermore Philip Hampton promotes constructive relations between the Executive and Non-Executive Directors. Justin King is the Chief Executive of Sainsbury, his responsibilities is executing the strategy, which was agreed by the Board. He also creates a framework of values, organization and objectives to make sure the successful delivery of key targets. Finally he takes a leading role, with the Chairman, in the relationship with all external agencies and in promoting Sainsburys. The division of responsibilities can help company to increase corporate governance and reduce the principal-agent problem. Chief Executives strategy must be agreed by the Board, at the same time, the Chairman must effectively communicate with shareholders. Therefore the Board will monitor the strategy and make sure it is represent the shareholders profit. 2.2 Independence of Non-Executive Directors Non-Executive Directors are elected by shareholders at the first Annual General Meeting and appointed for an initial three-year term. If they get mutual agreement and shareholders agreement, their appointment could be extended for a second term. There has a regulation to increase the independence that all the Non-Executive Directors are independent according to the provisions of the Code. This means that there is no compromise to the independence of the Directors who have executive or non-executive roles with other companies. Directors may have a direct or indirect interest that conflicts with companys interests without independence. The Board has established procedures for the disclosure by Directors of any such conflicts, and also for the consideration and authorization of these conflicts by the Board. In accordance with the Act, the Board considered and authorized each Directors reported potential conflicts of interest during the year. The Board will continue to monitor and review potential conflicts of interest on a regular basis. 2.3 Remuneration Committee The Committee is chaired by Bob Stack who was appointed a Non-Executive Director and Chairman of the Committee on 1 January 2005. There are four main responsibilities for Remuneration Committee: First, determining and agreeing with the Board the broad remuneration policy for the Chairman, Executive Directors and the Operating Board Directors; Second, setting individual remuneration arrangements for the Chairman and Executive Directors; Third, recommending and monitoring the level and structure of remuneration for those members of senior management within the scope of the Committee, namely the Operating Board Directors and any other executive whose salary exceeds that of any Operating Board Director; Fourth, approving the service agreements of each Executive Director and including termination arrangements. 3.0 Ownership J Sainsbury plc is a PLC (Public limited Company). Also it has a limited liability, which means that no shareholder of Sainsbury is personally responsible for the debts, obligations, or acts of the company. From the data of FAME, GOVERNMENT OF QATAR via its funds has 26.01% of total shares, THREE DELTA (HOLDCO) LLP own 25%, RAZINO LTD occupy 6.98%, LORD SAINSBURY OF TURVILLE has 5.83%, LEGAL GENERAL GROUP PLC via its funds own 3.99%, and BLACKROCK, INC. via its funds own 3.52%. (Specific data will be shown on appendix) 4.0 Audit Report Sainsbury invite PricewaterhouseCoopers LLP to do the audit for the company. In Sainsburys 2009 annual report PricewaterhouseCoopers LLP demonstrate the audit report, which shows their responsibilities, basis of audit opinion and audit opinion. 4.1 Audit opinion Audit opinions in the 2009 annual report reflect three things First, in accordance with IFRSs as adopted by the European Union , the Group financial statements give a true and fair view about Groups affairs as at 21 March 2009 and its profit and cash flows for the 52 weeks then ended; Second, the financial statements and the part of the Remuneration report to be audited have been properly prepared in accordance with the Companies Act 1985 and, as regards the Group financial statements, Article 4 of the IAS Regulation; Third is about the information, which is given in the Directors report is consistent with the financial statements. From audit opinion, we can understand 5.0 Audit Committee In 2009 annual report, I find members of the Committee are independent Non-Executive Directors. Auditor independence has been strengthened by this The main responsibility for audit Committee of Sainsbury is to monitor the integrity of the financial statements and any formal announcements relating to the Companys financial performance, also reviewed any significant financial judgments contained in them. The Committee has responsibility to make sure the Companys financial controls and the systems of internal control and risk management work efficiently. Where any weaknesses were identified, the detailed actions for resolution are closely monitored through to completion. In addition, the Committee has implemented the Companys policy which restricts the engagement of PricewaterhouseCoopers LLP in relation to non-audit services. This is another useful function for audit committee of Sainsbury to increase the auditor independence. The policy is designed to ensure that such services do not have influence on external auditors independence and objectivity. Another very important responsibility for audit committee is the system of internal control. The Audit Committee has reviewed the effectiveness of the system of internal control. In addition, if there have some weakness of the system of internal control, the committee must make sure the relevant remedial actions are taken to solve these problems. 6.0 Evaluation of the quality of any Voluntary Disclosures This paper will show Sainsburys Voluntary Disclosures from four aspects: food, employee environment, and social. 6.1 Food Basing on 2009 annual report, we can see that Sainsbury tries its best to provide and inspire customers to eat a healthy food. Without decreasing the taste and quality or increasing the prices, the company makes products as healthy as possible. There also have some highlights during 2009 on this part. For example, reducing the fat in their products and reducing the sugar in all of their squash lines by ten per cent. Products are the most important elements for a supermarket. Sainsbury pay a lot of attention on improving the healthy of their products. And this voluntary disclosure can help the company to attract more customs. 6.2 Employee During the year ending March 2009 Sainsbury generated 5,000 new jobs by opening 11 new supermarkets. Also the corporation created a program called You Can, which now have over 2,000 colleagues participating in. 760 colleagues have been recruited in 2008/09 by providing job opportunities to the long-term unemployed and disadvantaged. 6.3 Environment Sainsburys was the first UK food retailer to publish an environment report which we did in 1996. The company holds Reduce, Re-use, Recycle, in order to minimize the waste from its business and customer. The highlights during 2009 are environmentally efficient stores, which was first opened Dartmouth, Devon. This green store focuses on decreasing overall CO2 emissions, energy consumption. Also, the green store efficiently uses the Rainwater to harvest, by which can reduce mains water usage by 60 per cent, saving around one million litters of mains water every year. This disclosure will highly increase the corporate reputation of Sainsbury. 6.4 Social This is another part, which can significantly improve Sainsburys corporate reputation. From 2009 annual report, we can find several highlights, for instance, Active Kids, which was beginning in 2005, in 2009 Sainsbury donated over  £70 million worth of sports equipment and experiences to schools, nurseries, Scouts and Girl guiding UK. In addition, Food Donation program, In 2008/09 the company donated over  £5 million worth of surplus food to a network of charities across the UK. Sainsbury do well in this part, it help a lot of people at the same time, companys reputation increase by disclosing these information. Even though customs lost confidence during 2008, Sainsbury still have good performance in 2008/2009, the important reason is the actions, which was mentioned in the environmental and social disclosures help the company to increase their reputation in their customs mind. 7.0 Conclusion In conclusion, Sainsbury par a lot of attention on independence not only on internal company but also on external auditors. This is very important for a company to increase its corporate governance. Meanwhile, making sure managers represent the shareholders profits. Furthermore, according to the voluntary disclosure, we find that Sainsbury regard company reputation as the most important part. Because of this, Sainsbury still performance well in recent year even the economical environment is worse in UK.
Wednesday, September 4, 2019
Essay --
In 1931, Samuel Kistler created aerogel, the least dense solid in the world. Known for its ultra lightweight and incredible insulating ability, recent developments have shown aerogel’s potential in a wide variety of areas. Recently NASA for has used it to insulate Mars rovers and space suits. In addition to this, its extremely low density was utilized to catch dust particles in space, which would otherwise vaporize if they came in contact with solids at high speeds. Its insulating ability combined with its hygroscopic nature allow it to be very useful in both spacecraft and aircraft maintenance, as they keep ice from forming on the wings of the vehicle. Due to its incredible versatility and ultra lightweight, aerogel is a material of the future that will be utilized heavily in years to come. In the 1930’s Samuel Kistler removed all liquid from a silicon gel to produce an ultra-light material that functioned as an extremely efficient insulator, and named his discovery aerogel. It was initially marketed as an insulator, but due to developments in efficient insulation not being of priority in the 30’s, Aerogel development stalled. In the 1980’s, Aerogel development resumed as energy efficiency became a salient issue in America. (Aerogel Crystal Structure, 2005) Although it was deemed too costly for domestic use as insulation, the development of aerogels for commercial and military use has since taken off. Aerogel is produced by making a gel out of a desired material such as silicon, and replacing the liquid in a gel with a pure solvent. Then, the liquid in the gel is heated and pressurized so that it enters a supercritical state, where it can expand and compress like a gas, but has the density and thermal conductivity of a liquid. (H... ... greatly reduce the weight of planes and other military equipment. (DARPA Awards Aspen Aerogels, 2004) Due to their relatively high cost, the main consumers of aerogels are government agencies and large companies. The incredible capabilities and extreme versatility of aerogels provide a bright future for this technologically advanced material. As space exploration expands, lightweight insulation will be at a premium, and demand for aerogels will grow exponentially. In addition, its applications in the military and environmental uses will keep this material relevant for years to come. I believe that as research and development of aerogels continues, the cost of this material will decline to the point that it will become accessible to the average consumer, and could be used in protective gear or as originally conceived, as a cost efficient insulator for domestic uses.
Tuesday, September 3, 2019
A Gap Year: Just Say No Essay -- Education, A Gap Year
You’re coming back from a well needed break from school and you feel invigorated and ready to start. The first few weeks are the hardest to adjust to because your brain hasn’t been used throughout the break. The dilemma with breaks, such as summer break, is that one loses valuable information from past academic courses that are essential to ones progress towards higher education. Imagine a whole year without learning and then coming back to intense rigorous classes at a University. Seniors at high schools over the nation have the opportunity of taking a year off before committing to a college. This is known as a Gap Year; instead of directly enrolling into a University many students feel the need to take a break before starting their education towards their future career. Yes, a Gap Year does sound pleasing and beneficial, but in the long run it can be damaging towards ones future. Students should be aware of the ramification a Gap Year brings, such as, t he possibility for enrolling in a graduate school is lower, academic growth is reduced, and social obstacles become present. Before understanding the consequences of a gap year, it is important to understand why people take a Gap Year. Senior year can be tense and come with several unanswered questions. Seniors are given four options when leaving High School. Those choices are either joining the army, going straight to work, applying to college, or taking a Gap Year. In a journal by Sunny Niu and Marta Tienda, â€Å"Delayed Enrollment and College Plans: Is There a Postponement Penalty?†explains some of the reasons why high school graduates tend to not go directly to a four year university. One of the main reasons high school graduates are hesitant to attend co... ... index.php/considering-a-gap-year/why-take-a-gap-year>. Holmes, Bradford. "Decide If a Gap Year Makes Sense to You." Us News: n. pag. Print. Horn, Laura, Emily Forrest Cataldi, and Anna Sikora. "Waiting to Attend College." National Center of Education Statistics. N.p., n.d. Web. 8 Dec. 2013. . Niu, Sunny, and Marta Tienda. "Delayed Enrollment and College Plans: Is There a Postponement Penalty?" Journal of Higher Education (2013): 1-28. Print. O’Shea, Joseph. "Delaying the Academy: A Gap Year Education." Teaching in Higher Education (2011): 1-14. Print. Wells, Ryan S., and Cassie M. Lynch. "Delayed College Entry and the Socioeconomic Gap: Examining the Roles of Student Plans, Family Income, Parental Education, and Parental Occupation." Journal of Higher Education
Monday, September 2, 2019
Kuona, An African Perspective on Religions: J.N.K. Mugambis Contributi
Kuona, An African Perspective on Religions: J.N.K. Mugambi's Contribution ABSTRACT: Kuona is a Shona (one of Zimbabwe’s major languages) verb meaning "to see." In poetic constructions, it is often used as an ocular metaphor meaning insight or understanding. This ocular metaphor can be used to describe Mugambi’s assessment of the exclusivistic claims one often encounters in the Abrahamic religions. Such claims often arise from a strongly held belief that the adherent is one of God’s chosen. Mugambi has emerged as one of the most articulate philosophical theologians in the African continent. His reflections, ubiquitous in classrooms on the continent, deserve a much broader audience. My paper seeks to introduce Mugambi’s perspective on religion. Part of Mugambi’s project has been to make an assessment of this notion of chosenness in the Abrahamic religions. He does so particularly with reference to the relationship between Christianity and the African religious heritage. Kuona is a Shona (one of Zimbabwe's major languages) verb meaning to see. In poetic constructions it is often used as an ocular metaphor meaning insight or understanding. This ocular metaphor, it seems to me, can be used to describe Mugambi's assessment of the exclusivistic claims one often encounters in the Abrahamic religions. "Only those who believe as we do have any hope of an eternity with God." "We are the ones destined or predestined for heaven." These and such claims often arise from a strongly held belief that the adherent is one of God's chosen ones. Part of Mugambi's project has been to make an assessment of this notion of chosenness in the Abrahamic religions. He does so particularly with reference to the relationship between Christianity and the... ...on mark on the Mosaic religions, Mugambi proceeds to suggest that other religious traditions may be propounding perspectives closer to the divine ideal. He assesses he religions of the Orient  especially Buddhism  as being immensely tolerant and respectful of the humanity and integrity of others. The African religious heritage, he finds to be also inclusive rather than exclusive. Realizing that his challenge is bound to evoke a charge of Universalism on the part of many evangelical Christians in the North Atlantic areas, Mugambi contends that his insights are not such as to bring shame on those who accept them. He declares that when Christians of non-EuroAmerican cultures seek a synthesis of the Christian faith with their own heritage, a charge of universalism may after all turn out to be a virtue rather than a vice. In the final analysis God is the final arbiter.
Sunday, September 1, 2019
Analysis of Two Sonata-Form Piano Movements
Beethoven and Haydn provide several examples of sonatas. Two piano sonatas in particular are Beethoven’s Piano Sonata No. 5 in C minor, and Haydn’s Piano Sonata No. 49 in C-sharp minor. Haydn wrote primarily in the mid to late 1700’s, while Beethoven wrote about a hundred years later.For that reason, it is likely (and, in fact, true in these examples) that Haydn’s style would be more typical of ‘normal’ sonata form. The Beethoven sonata begins with a short A theme (which crashes staccato style between piano and forte), followed by a softer, more lyrical B theme.There is no transitional material between the A and B themes; the A theme simply ends and the B theme begins in the next measure. There is only a brief pause between them. The exposition repeats, and lasts unusually long before the transition and development begin. The transition is very brief, only a few measures, and the development is also fairly brief. The recapitulation begins shor tly afterwards. The sonata form is rather unclear throughout the piece – it is not a standard example by any means. The A theme is solidly in C minor, but the B theme is major.It is not the dominant, which is extremely unusual; it is probably in V/iv. It is difficult to tell what key it is in during the B theme as there is no transition, which is traditional, and it is not in the dominant. The recapitulation of this movement is two simple chords that are struck in staccato fashion, similar to the A theme material. The chords sound like V-I, which is a standard ending. The tonic-dominant relationship in this movement isn’t as strong as it would ordinarily be in a sonata; transitions are unclear or unused; keys are unusual.This is an odd example of sonata form. The Haydn sonata is a much more typical example of sonata form. It begins with an A theme in the exposition in C# minor, and moves, with a brief transition, into a B theme in the dominant. The A theme is a contras t between a forte staccato section, and a piano lyrical section, very similar to the Beethoven piece. The B theme is in general more lyrical and flowing than the A theme although it has staccato moments as well. The motives are very obvious, so it is easy to tell when the themes return, which they do throughout the movement.The exposition repeats. Afterwards, a development begins, with a very brief â€Å"x†section at the beginning as transitional material. The development contains a sequence in the middle of it, and the piece goes through several key changes there, landing on a V7 – I to finish the sequence. This sequence repeats later in the movement as well, just before the beginning of the recapitulation. The sequence is characterized by the emphasis of the bass in half notes with sixteenth notes playing over the top. It moves primarily in major seconds, but not exclusively.The A section repeats most often, more so than the B section. The A theme repeats very defin itely again at the start of the closing. The transitional material is brief and remains in the tonic, and the B theme is in the tonic. There is a short section at the end that is a bit different from the A or B theme that may be considered a coda. All in all, this is a very predictable, typical sonata form movement. These two movements are similar in that they are both sonata form movements, that they both have two distinctive themes, and that these themes vary between legato and staccato styles.However, Haydn, who composed during the classical period, adhered much more strictly to traditional sonata form, including proper transitions and key changes. The sections of the form are extremely easy to pick out and are in typical proportion to one another, with the development lasting the longest. Beethoven, who composed during the Romantic era, obscured the form more than Haydn did, so that it bore resemblance to sonata theme but was unique in several ways. The examples together show a progression in the compositional styles through the musical periods.
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