Correct Spelling Is Profitable for Online Businesses

Right Spelling Is Profitable for Online Businesses In his book on the historical backdrop of English spelling, Oxford English teacher Simon Horobin offers this financial contention for the estimation of right spelling: Charles Duncombe, a business person with different online business interests, has recommended that spelling mistakes on a site can lead straightforwardly to lost custom, conceivably causing on the web organizations enormous misfortunes in income (BBC News , 11 July 2011). This is on the grounds that spelling botches are seen by customers as a notice sign that a site may be false, driving customers to change to an adversary site in inclination. Duncombe estimated the income per guest to one of his sites, finding that it multiplied once a spelling botch had been corrected.Responding to these cases, Professor William Dutton, executive of the Internet Institute at Oxford University, supported these ends, taking note of that, while there is more prominent resistance of spelling mistakes in specific territories of the Internet, for example, in email or on Facebook, business destinations with spelling blunders raise worries over validity. Online customers worries about spelling botches on s ites are justifiable, offered that poor spelling is explicitly featured in guidance on recognizing conceivably fake email, supposed phishing. . . .So the message is clear: acceptable spelling is imperative in the event that you need to run a beneficial online retail organization, or be a fruitful email spammer.( Does Spelling Matter? Oxford University Press, 2013) To ensure that your composing isnt covered with spelling blunders, follow our Top 10 Proofreading Tips. Dont rely upon your spellchecker to deal with all the work. Some purported spelling blunders are really botches in word decision, for example, the utilization ofâ your for youreâ or roleâ for ​roll. A decent number of the words in our Glossary of Commonly Confused Words are homophones like these, and your spellchecker just isnt sufficiently shrewd to keep their implications straight. As Horobin states in his presentation, hes not out to change English spelling (a purposeless exercise regardless) however to contend for the significance of holding it as a declaration to the extravagance of our semantic legacy and an association with our scholarly past. I prescribe Horobins book to anybody keen on getting familiar with the sources of English spelling and its frequently unconventional shows. Progressively About English Spelling Journalists on English SpellingFour Spelling RulesTop 20 Spelling MnemonicsThe Futility of Spelling Reform

Free Essays on Women And The Expansion Of Their Roles In Society

Before the 1940’s your normal lady would be at home dealing with the family tasks and getting ready coffee shop for the family. The ladies ensure that when her better half and family restored that supper was on the table and the house was spotless. The men would work the entire day and make the family salary. In the late 1930’s mid 1940’s the job of ladies changed drastically. The world was doing battle again and unfortuntly the world was everything except prepared. Anyway had this war never had occurred ladies may in any case be in the kitchen today. Most of men were called upon to battle for their nation and realizing that you can’t be two places without a moment's delay the topic of who might run the factory’s, bussiness and all the things the men were doing before hand emerged. This is the place the ladies come in. Ladies replaced men completley. They were working in processing plants, shipyards, lumbermills, steelmills, and foundries. Ladies were going insane, they were trying the boundries and taking the best of their known capacities and taking them to the most noteworthy of their obscure. Ladies let their brains extend and it wasn’t long that the general public understood that ladies as well, had extradinary capacities. â€Å" Then, as well, there was my conviction that every so often ladies ought to accomplish for themselves what men have as of now done†¦ and sometimes what men have not done†¦thereby building up them selves as people, and maybe reassuring other ladies toward more prominent freedom of thought and action† Women filled in as welders, circuit testers, mechanics, boilermakers, engineers, specialists, material science, scientific experts, medical attendants, and numerous different occupations. More than 3 million ladies served at Red Cross. Before the fin ish of WW II, Americas wartime creation came to it’s most elevated point ever! Creation records incorporate 296,429 planes, 10,351 tanks and self-moved firearms, 372,431 ordnance pieces, 47 tons of big guns ammo, 87,620 warships, 44 billion rounds of little arms ammo. On... Free Essays on Women And The Expansion Of Their Roles In Society Free Essays on Women And The Expansion Of Their Roles In Society Before the 1940’s your normal lady would be at home dealing with the family tasks and getting ready burger joint for the family. The ladies ensure that when her better half and family restored that supper was on the table and the house was perfect. The men would work the entire day and make the family unit pay. In the late 1930’s mid 1940’s the job of ladies changed significantly. The world was doing battle again and unfortuntly the world was everything except prepared. Anyway had this war never had occurred ladies may in any case be in the kitchen today. Most of men were called upon to battle for their nation and realizing that you can’t be two places without a moment's delay the topic of who might run the factory’s, bussiness and all the things the men were doing before hand emerged. This is the place the ladies come in. Ladies replaced men completley. They were working in production lines, shipyards, lumbermills, steelmills, and foundries. Ladies were going insane, they were trying the boundries and taking the best of their known capacities and taking them to the most noteworthy of their obscure. Ladies let their psyches grow and it wasn’t long that the general public understood that ladies as well, had extradinary capacities. â€Å" Then, as well, there was my conviction that every so often ladies ought to accomplish for themselves what men have as of now done†¦ and incidentally what men have not done†¦thereby setting up them selves as people, and maybe promising other ladies toward more prominent freedom of thought and action† Women filled in as welders, circuit repairmen, mechanics, boilermakers, engineers, specialists, material science, scientific experts, attendants, and numerous different occupations. More than 3 million ladies served at Red Cross. Before the finish of WW II, Americas wartime creation came to it’s most elevated point ever! Creation records incorporate 296,429 planes, 10,351 tanks and self-pushed firearms, 372,431 big guns pieces, 47 tons of big guns ammo, 87,620 warships, 44 billion rounds of little arms ammo. On...

MXE Myths, Effects, Risks, and How to Get Help

MXE Myths, Effects, Risks, and How to Get Help Addiction Drug Use Hallucinogens Print What to Know About MXE Use By Elizabeth Hartney, BSc., MSc., MA, PhD Elizabeth Hartney, BSc, MSc, MA, PhD is a psychologist, professor, and Director of the Centre for Health Leadership and Research at Royal Roads University, Canada. Learn about our editorial policy Elizabeth Hartney, BSc., MSc., MA, PhD Medically reviewed by Medically reviewed by Steven Gans, MD on August 11, 2019 Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital. Learn about our Medical Review Board Steven Gans, MD on August 11, 2019 GreenZeb / Wikimedia Commons / CC BY 3.0 More in Addiction Drug Use Hallucinogens Cocaine Heroin Marijuana Meth Ecstasy/MDMA Opioids Prescription Medications Alcohol Use Addictive Behaviors Nicotine Use Coping and Recovery In This Article Table of Contents Expand What Does MXE Do? Common Side Effects Signs of Use Myths & Common Questions Addiction & Withdrawal How to Get Help View All Back To Top The name MXE stands for methoxetamine, or its full name, 2-(3-methoxyphenyl)-2-(ethylamino) cyclohexanone. MXE is a drug from the arylcyclohexylamines family of compounds. Arylcyclohexylamines also include ketamine and PCP, which are two drugs that have been around for decades and have been used for anesthesia in humans and animals. In contrast, MXE is a much more recently developed substance, which has been specifically developed and used as a recreational drug. MXE differs from ketamine on a molecular level. Initial reports indicate that despite its semi-legal status, MXE has longer-lasting and more intense effects than ketamine. There have not been any formal studies to demonstrate exactly how MXE works, but it is assumed to work in the same way that ketamine does by affecting the brains neurotransmitters and acting on their receptors. In addition to glutamate and aspartate one of the neurotransmitters thought to be affected is dopamine, which is associated with feelings of euphoria, and has a role in many addictions, including substance use disorders. Given the fact that it has only emerged as a recreational drug in the last decade, very little is known about how to manage the medical consequences of the drug, making it a risky substance to take. Also Known As: Methoxetamine is also known as MXE, m-ket (sometimes written as m ket), k max, k-maxx, kmaxx), mexxy (sometimes written as mexy, mexxi), mexxiem, mkat, mxxe, methoxatamine, methoxetimine, and methoxetamin. Drug Class: MXE is an arylcyclohexylamine. Its classified as a dissociative hallucinogen. Common Side Effects: MXE can cause increased energy, euphoria, auditory and visual hallucinations, disassociation (m-hole), severe ataxia, nystagmus How to Recognize MXE MXE is typically produced in the form of a white or off-white powder and may be labeled not intended for human consumption or sold as a research chemical. What Does MXE Do? There are several ways that people take MXE. Some take it orally or sublingually (under the tongue). Some take it by nasal insufflation  or snorting it into the nose. It can also be inserted into the rectum, where its absorbed into the bloodstream, or injected into a muscle. Doses typically range from 5 mg to 90 mg. If the drug is snorted, it can take 30 to 90 minutes to feel the effect, which can cause users to top-up or take more before the drug kicks in. This is a dangerous practice because the drug can build up in your system and lead to synergistic adverse effects. The effects usually last for one to three hours. If MXE is injected, the effects can begin within five minutes and last for as little as one hour. Like other psychoactive drugs, the MXE high is described as pleasurable and includes stimulant, relaxant, and dissociative effects. But MXE also has unpredictable and intense side effectsâ€"particularly with higher dosesâ€"that are extremely unpleasant both physically and psychologically. What the Experts Say MXE has been available on the Internet since 2010 through online chemical manufacturers and head shops who sell it as a research chemical and as a legal high. By being marketed as a research chemical, which is a way that designer drugs can be sold semi-legally, it can potentially get through a legal loophole. The lack of credible research evidence on MXE makes it a risky substance to take both in the short term and the long term. In the short term, if you suffer from acute complications of the drug, the doctors who try to help you in the emergency room will likely not be well-versed in what you have taken or how to best treat it. Information is not yet available on the long-term effects of MXE, so we dont currently know how taking MXE might affect your future mental or physical health, your fertility, or the health of your baby if you are pregnant or breastfeeding when you take it. Common Side Effects MXE has stimulant and dissociative effects, with the stimulant effects predominating at lower doses and the dissociative effects at higher doses. Depending on the set and setting and your personal reaction to the drug, you can experience an altered state of consciousness that can range from a dreamlike state to a terrifying  bad trip  experience of heightened, intense anxiety that can go on for several hours. Lower Doses (up to 20 mg):These feelings can continue as an afterglow for one to two hours after the main effects of the drug wear off. Feeling of calmnessIncreased energyEuphoriaDisconnection from problems and concerns Higher doses (40 mg to 50 mg):When taken in higher doses, the effects of MXE are much more intense (and more similar to related drugs like ketamine and PCP), including: Feelings of intense  intoxicationAnxietyAuditory and visual  hallucinationsFeeling disconnection from your bodySevere ataxia (lack of coordination and clumsiness)Nystagmus (a condition that causes involuntary shaking or wobbling of the eyes)Dissociation (often referred to as an m-hole parallel to the  k-hole  experience on ketamine) Marijuana  appears to intensify MXE in a negative way, causing severe disorientation and distress, slurred speech, and difficulty communicating. Users can also become hyperthermic and hyperpyrexic (high fever), which is potentially fatal. Hospital reports show that, while people can recover from MXE toxicity, this recovery period can require several days of hospitalization, with treatment including detox medication, intravenous fluids, and respiratory support. In addition, news stories have blamed several deaths on the consumption of the drug. Very little objective information is available about MXEâ€"most of it is anecdotal, posted on internet forums by users, or reported by emergency physicians who have dealt with acute cases. These individual reports give an idea of what someone says about their personal experience with the drug, but do not necessarily predict other users experiences. If you or anyone else has taken MXE and appear to be losing consciousness, call 911 immediately. Inform the paramedic that MXE was taken, as well as any other drugs or alcohol that were also consumed. The effects of MXE can be life-threatening. How to Recognize Signs of Drug Overdose Signs of Use If someone you care about is using MXE, you might notice the following signs: Changes in sleep habitsShifts in prioritiesSudden change in social networkIrritabilityMood changesPresence of drug paraphernalia Myths Common Questions New psychoactive substances or legal highs like MXE are not a safe, legal alternative to ketamineâ€"in fact, they are often more potent and unpredictable than the illicit drug they are designed to mimic. Tolerance, Dependence, and Withdrawal Anecdotal reports from users indicate that tolerance builds up quickly and that the drug has a high potential for addiction. Some users report taking high doses several times a day in an effort to maintain the positive effects on their initial low doses. This is often coupled with emotional difficulties and associated social problems. There is limited data regarding MXE dependence, but researchers believe that its similarity to ketamine may mean that it carries a similar risk of dependency. How Long Does MXE Stay in Your System? The length of time MXE stays in your system depends on several factors, including how much you take and how you take it (i.e., orally, snorted, or injected) as well as your age, metabolism, hydration, and activity levels. MXE is not detected via a standard urine toxicology screen. Addiction Addiction to MXE is certainly possible, especially since it is thought to affect the neurotransmitter dopamine, which signals the brain that a reward is on its way. When users experience a spike in dopamine levels, it reinforces the desire to use again and the brain requires more and more of the drug to achieve feelings of pleasure. The result: compulsive drug-seeking behavior. This can include spending large amounts of time seeking and using the drug and neglecting work and family responsibilities. As there is very little information available, many addiction counselors and medical staff may not have even heard of the drug, let alone know about the effects. This may make forming a therapeutic relationship and effective addiction treatment for this drug particularly challenging. Effective Drug Addiction Treatment Withdrawal Once people have developed a dependence on or addiction to MXE, they are likely to experience symptoms of withdrawal if they suddenly stop taking the drug. These symptoms can range from mild to serious and can impact the body and mind, including: Depressive thoughtsInsomniaMemory lossImpaired judgmentDisorientationClumsinessBody aches and pains Withdrawal From Drug Addiction How to Get Help While there is no specific treatment for MXE addiction, there are some proven treatment options that could help you or someone you love. Treatment may include supervised detox, rehab (inpatient, outpatient, or residential), cognitive-behavioral therapy, family therapy, support groups, relapse prevention, and medication for any co-occurring mental illnesses. If you have a problem with MXE use, talk to your doctor. Together, you can figure out the right treatment to begin the road to lasting recovery. Addiction Resources Dont wait to get help. The Substance Abuse and Mental Health Services Administration has a national helpline (800-662-4357) as well as an  online treatment locator  to find mental health services in your area.

Barbary Pirates Battled By US Navy 200 Years Ago

The Man Who Shocked The World - 1725 Words

The case study that I have chosen for this particular paper comes under the section ‘Thinking Critically 1.2’ titled ‘The Man Who Shocked the World’. The case study mainly revolves around a controversial psychological experiment conducted by Dr. Stanley Milgram, a 28-year-old psychologist at Yale University who was also a Harvard graduate with a PhD. He basically chose to study human behavior and provide insights on the capacity of the members of the human race to inflict harm on each other. In order to carry out this study, he advertised for and chose participants from the general public who were only told that they would be volunteers in an experiment on punishment and learning. The set-up of the experiment was such that the ‘teacher’†¦show more content†¦Utilitarianism (according to the classical approach) argues that the ‘morally right action is the action that produces the most good’ (Driver, 2014). If understood entirely in terms of the results or the consequences produced by an action, then it can be argued according to utilitarianism that the best moral action is the one that produces the best consequences. The strength of this theory according to me is that it endorses as right the actions that are morally good for everybody, not just the one who does it or is affected by it. Also, according to the classical theory of utilitarianism, impartiality is an important value that must be present when a morally right action with the right consequences is being carried out (Driver, 2014). The weakness of this theory according to me is that ‘good’ is often equated with ‘pleasure’ in utilitarianism whi ch can create a lot of misunderstandings and lead to wrong conclusions being derived out of situations. When analyzing the case study under consideration through the lens of utilitarianism, one can argue that Dr. Milgram conducted the experiment for the overall good of the human community because he came up with revelations that he argues explains the innate behavior of human beings submitting to authority. However, utilitarianism says that theShow MoreRelatedThe Man Who Shocked The World : Milgram Experiment1957 Words   |  8 PagesThe Man Who Shocked the World: Milgram Experiment In many situations, there have been authority figures with mass followings. Often the power the leader holds over their followers can influence them to do negative things. Many people believe that they can be independent enough to resist any pressure put on them by an authoritative figure. If this was true, then why do genocides mark the pages of history books around the world? Stanley Milgram sought to answer this budding question. He used his scientificRead More The Experience Of War Essay1051 Words   |  5 Pagesto Catalonia by George Orwell describes his senses and feeling of getting shot in the neck during battle. Exposure by Wilfred Owen,describes the horrors and reality of being in the trenches of the First World War. And The Making of Me by Robert Westall is about a shell-shocked grandfather who has the responsibility of looking after his grandchild. In the Upturned Face by Steven Crane, a fictional war is fought in an imagined Europe. This extract describes the stresses of battle and its effectsRead More Catcher in the Rye Essay: Holden and the Complexity of Adult Life1172 Words   |  5 Pagesand frustration of many writers. The sour note of bitterness and the recurring theme of sadism have become almost a convention, never thoroughly explained by the authors dependence on a psychoanalytical interpretation of a major character. The boys who are spoiled or turned into budding homosexuals by their mothers and a loveless home life are as familiar to us today as stalwart and dependable young heroes such as John Wayne were to an earlier generation. We have accepted this interpretation of theRead MoreThe Death Of A Blind Patient887 Words   |  4 Pageswatch an elderly man. When I timidly stuck my head into the room, the doctor asked me not to let the man leave. I entered and stood by the bed. â€Å"Who’s this?† an old man in his sixties asked. I asked if I could have a sit in order to know more about him. The friendly old man agreed, smiling and introduce d himself as Pat. I looked at his walking stick, unblinking eyes and finally asked, â€Å"If you don’t mind me asking, are you errr.... blind?† I was a third year medical student, who was only taught basicRead MoreAnalysis Of Donald Trump And Hillary Clinton1013 Words   |  5 Pagesunpredictability can terminate alliance and any progression made from the democrats. 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Pictures of the World Trade Center collapsing, people jumping out of them, the PentagonRead MoreKing Leopold s Ghost By Adam Hochschild1036 Words   |  5 Pagescolonizing the Congo through means of propaganda, missionaries, use of other countries, and other various other methods to end his rule and change the common perceptions of imperialism. The main goal, however, of writers in the Congo, was to let the world know of Leopold’s actions and to end his selfish ruling. The role of journalists became most prevalent beginning in the 1880’s. In 1885, under the pretense of philanthropy, King Leopold II Belgium claimed land along the Congo River as his personalRead MoreThe Atomic Bomb1214 Words   |  5 Pagespeople around the world. Survival could range anywhere from just getting up in the morning to being lost in the wild. This decennium revolves around survival. We’ve heard many stories around the world about survival, from people obtaining food, or trying to find shelter. Sometimes it is hard to have sympathy for the people who suffer because they don’t have the necessities to live. Throughout history, there has always been a big survival story that happens somewhere in the world. One could argueRead MoreApple s First Macintosh Commercial1309 Words   |  6 Pagesworth buying like Apple did in its first Macintosh commercial. By using themes from George Orwell’s 1984, Apple was able to speak volumes about its product w ithout showing or describing it. Apple visualizes its self as the hero that will save the world and people believed it. Most of us now own an Apple brand. This advertisement is an effective ad because it contains a valuable message that was provided to the viewer by using contrasting visuals and it is about awakening the people and breaking theRead MoreEssay on The Milgram Experiment1572 Words   |  7 Pagesâ€Å"victims† in the experiment, so no one was truly being tortured. Milgram wanted to show that pressure can get to anyone, in any situation. (Simmerman) In the book, The Man Who Shocked The World, Thomas Blass says that Stanley Milgram was born on August 15th 1933 in the Bronx of New York. He was born from Jewish immigrants who emigrated from Hungary. Milgram was the 2nd of three children. He began school at PS77 in the Bronx where it quickly became evident that he had a superior intellect. His

Business Strategy Free Essays

THE INTERNAL ENVIRONMENT [pic] STRATEGIC CAPABILITIES Strategic capabilities are the resources and competencies Vodafone need to survive and prosper. (Johnson, Scholes Whittington 2006, p. 119) Why do we need to understand Vodafone’s Capabilities†¦. We will write a custom essay sample on Business Strategy or any similar topic only for you Order Now Vodafone’s capabilities will allow Vodafone to achieve competitive advantage over others because Vodafone has something that a competitor doesn’t have, or has difficulty getting. |RESOURCES |COMPETENCES | |THRESHOLD CAPABILITIES |THRESHOLD RESOURCES |THRESHOLD COMPETENCES | | |-TANIGBLE | | | |-INTANGIBLE | | |CAPABILITIES |UNIQUE RESOURCES |CORE COMPETENCES | |FOR |-TANIGBLE | | |COMPETITIVE ADVANTAGE |-INTANGIBLE | | (Johnson, Scholes Whittington 2006, p. 118) Threshold Resources According to Johnson, Scholes Whittington (2006 p. 119) threshold resources are needed to meet customer’s minimum requirements. Tangible resources are all means available to an organisation that can physically be observed (touched), such as Vodafone’s HQ in Mount View, Leopardstown, Dublin, it also comprises over 70 Vodafone retail stores and over 30 partner stores in Ireland its phones, its networking and cabling structure (www. vodafone. ie). Intangible resources on the other hand cannot be touched, but are largely carried within the people in the organisation, such as culture, knowledge and reputation (De Wit Merger 2005, p. 113) Unique Resources Unique resources underpin competitive advantage and are difficult for competitors to imitate or obtain. (Johnson, Scholes Whittington, 2006 p. 119) Again, they can be tangible or intangible in nature. Vodafone offers broad roaming plans to their customers. †¢ Network coverage. Vodafone network is available to other network users in remote areas Competences Threshold competences are the activities and processes Vodafone carry out to meet customer†™s minimum requirements (Johnson, Scholes Whittington 2006, p. 119). Core competences are activities that underpin competitive advantage and are difficult for competitors to imitate or obtain (Johnson, Scholes Whittington 2006, p. 119). We have derived from our analysis, based on the utilization of Vodafone’s resources the following core competences are: †¢ Vodafone Ireland, as part of the Vodafone Group, aims to maximize the tilization of their resources by committing to helping communities and the environment, through their Corporate Responsibility program. ‘The Green Agenda’ is an environmental strategy combining Vodafone’s internal goals with a leadership position; to on their stakeholders the central role sustainability must play in our lives. Vodafone intended to cut CO2 emissions by 30% by 2011. †¢ Charity initiatives: Vodafone Ireland Foundation. The aim is to provide assistance in the form of cash donations, sponsorship and staff vol unteering for Irish Charities. The partnerships they acquire with various charities allow for effective use of resources such as supporting Irelands elite disability athletes in the run up to and beyond next summer’s London 2012 Paralympics Games. Ultimately, corporate social responsibility has been handled extremely well; Vodafone is maximising the opportunities of positive Public Relations, and positive brand perceptions achieved through ‘giving back’ to the community. †¢ Marketing Skills have enabled Vodafone to dominate the Irish telecom industry. Vodafone invests heavily on customer research in order to discover customer expectations, their needs, understand how to effectively communicate to customers. By outsourcing customer satisfaction research to third party suppliers it has enabled Vodafone to provide excellent research capabilities and customer service. †¢ Leadership and Management Styles have a direct impact on organisational culture. Analysis revealed that the Vodafone culture can be described as young, vibrant and dynamic. Senior management have developed Vodafone Ireland as a learning organization by creating career development opportunities for employees with respect to its daily activities. Emphasis is on developing personal capabilities. Cost Efficiency An important strategic capability in any organisation is to ensure attention is paid to achieving and continually improving cost efficiency. This will involve having both appropriate resources and the competences to manage costs. Customers can benefit from cost efficiency in terms of lower prices or more product features for the same price. (Johnson, Scholes Whittington 2006) Delivering cost efficiency is a core Vodafone initiative. During 2011 Vodafone saw European Operating costs reduced by 4% on an organic basis, saving the organisation ? 140 million. A number of factors may impact the prices Vodafone charge and revenue Vodafone receive such as completion, regulatory decisions and legislation on mobile termination rates, international roaming charges and the availability and cost of spectrum. For example in Ireland, the national regulator has proposed auctioning all spectrum in the 900 MHz and 1800 MHz spectrum bands at the same time as an auction of 800 MHz spectrum in 2011, with spectrum available in 2013. In the meantime, Vodafone’s 900 MHz licences will be renewed until the commencement of the new licences in 2013. Also changes in macroeconomic conditions will affect Vodafone. Vodafone’s VALUE CHAIN Value chain analysis describes activities within and around an organisation, and relates them to an analysis of the competitive strength of the organisation. Johnson and Scholes (1999) outline that one of the key aspects of value chain analysis is the recognition that organisations are much more than a random collection of machines, money and people. These resources are of no value unless deployed into activities and organised routines and systems, which ensure that services are produced which are valued by the final consumer, in other words it is Vodafone’s competences to perform particular activities and its ability to manage linkages between activities which are the source of competitive advantage for the organisation. Infrastructure | | | | | | |HRM |Training and |Development | | | | |Technology |Group Technologies | | | | | |Procurement | | | | | | |Inbound Logistics |Operations |Outbound Logistics |Marketing Sales |Services | | |One Supply Chain |Better understanding of |Multiple Customer |Focus its resources on |Locate a great number of | | |Management to manage most |the Strategic Values of IT|Interfaces to deliver its |local customer |own branded stores to | | |of Vodafone’s |to perform its business |products and services |relationship management- |accommodate customer | | |relationships with |operations more |(web, mail, telephone, and|micro segmentation, |service | | |Suppliers |efficiently and |self service portal) |real-time marketing | | | |Supplier Performance |effectively | |direct distribution plus | | | |management process in | | |aligned partners, such as | | | |place in order to monitor | | |Carphone Warehouse | | | |and review | | | | | | Generic categories of the value chain | |FIRM INFRASTRUCTURE CONSISTS OF ALL GENERAL ACTIVITIES THAT SUPPORT| | | |THE ENTIRE VALUE CHAIN INCLUDING GENERAL | | | |MANAGEMENT, PLANNING, FINANCE, LEGAL AND | | | |QUALITY MANAGEMENT | | | | | | | | | |SUPPORT ACTIVITIES | | | | |HUMAN RESOURC E MANAGEMENT |ACTIVITIES ASSOCIATED WITH THE MANAGEMENT OF | | | |PERSONNEL THROUGHOUT THE ORGANISATION | | |TECHNOLOGY DEVELOPMENT |ACTIVITIIES ASSOCIATED WITH THE IMPROVEMENT OF | | | |TECHNOLOGIES THROUGHOUT THE FIRM | | |PROCRUREMENT |ACTIVITIES ASSOCIATED WITH THE PURCHASING OF | | | |INPUTS TO FACILITATE ALL OTHER ACTIVITIES | | |INBOUND LOGISTICS |ACTIVITIES ASSOCIATED WITH RECEIVING, STORING | | | |AND DISSEMINATING INPUTS, INCLUDING WAREHOUSING| | | |AND VECHILE SHEDULING | | | | | | | | | | | | | |PRIMARY ACTIVITIES | | | | |OPERATIONS |ACTIVITIES ASSOCIATED WITH TRANSFORMING INPUTS | | | INTO FINAL PRODUCTS | | |OUTBOUND LOGISTICS |ACTIVITIES ASSOCIATED WITH DISTRIBUTING | | | |PRODUCTS AND SERVICES TO BUYERS | | |MARKETING AND SALES |ACTIVITIES ASSOCIATED WITH PROVIDING A MEANS BY| | | |WHICH BUYERS CAN PURCHASE THE PRODUCT AND | | | |INDUSING THEM TO DO SO (ADVERTISING, SALES | | | |PROMOTION AND PRICING) | | |SERVICES |ACTIVITIES ASSOCIATED WITH PROVIDING SERVICE TO| | | |ENHANCE OR MAINTAIN THE VALUE OF PRODUCTS. | (De Wit Ron Meyer, 2005) Vodafone’s VALUE CHAIN NETWORK Organisations are part of a wider system of adding value involving supply and distribution value chains and the value chains of customers (Lynch 2000). SUPPLIERS VALUE CHAIN CHANNEL VALUE CHAIN CUSTOMER VALUE CHAIN Analysis of the value chain and value system will provide information on value added in the company. Linkages are important to strategic development because they are often unique to that organisation. These linkages may therefore provide advantages over competitors who do not have such linkages, or who are unable to easily develop them (Lynch 2000, p270). (xxxxx) According to Porter, â€Å"fit is a far more central component of competitive advantage than most realise†. BENCHMARKING Benching has quickly come to be a tool not only for comparing a company against rivals on cost but also for comparing itself to others on most any relevant activity or competitively important measure (Thompson Strickland 2001). There are a number of different types of benchmarking, some more useful than others such as Historical benchmarking-which is common for organisations to consider their performance in relation to previous years. Industry/sector benchmarking- which involves looking at the comparative performance of other organisations in the same industry sector or between similar public service providers. Best-in-class benchmarking- compares an organisations performance against ‘best in class’ performance –wherever that is found. One of Vodafone’s key objectives is to deliver value and efficiency from scale, the organisation is continually seeking to improve its cost efficiency against a background of continual price pressures due to competition in the market and regulations. Vodafone uses the Hackett Group, an external independent benchmarking company to gain a better insight into its competitive position in the market place. The Hackett Group, using best practice business benchmarking helps propel clients to sustainable improvements in operational efficiency and effectiveness. Looking at Vodafone from a Cost perspective the company has favourable comparative cost positions in many markets; [pic] (http://www. vodafone. com/content/annualreport/annual_report11/business-review/strategy-in-action/deliver-value-and-efficiency-from-scale. html) SWOT ANALYSIS- STRENGTHS AND WEAKNESSES Strengths |Weaknesses | |Well defined cost reduction initiative. |1. High customers churn rates. | |Ethical company and in r anking top 20 in Europe. |2. Hard to prevent internal information leakage from | |Close relationships with suppliers and cost efficiency. |Vodafone to competitors. | |Strong market leading position. |3. Outsourcing-Lack of control over service quality. | |Pure cash provisions. |4. Lack of communication between head office and retail | |Excellent brand reputation. |outlets. As a result retail staff may not be receiving | | |adequate training on Vodafone products/services. | |5. Staff forced to be flexible in job design | | |(doubling/tripling work load) which causes quality | | |deficiency. | Appendix 5: SWOT analysis- Key points highlighted THE TOWS MATRIX The TOWS matrix builds directly on the information about the strategic position that is summarised in a SWOT analysis. Each box of the TOWS matrix is used to identify options that address a different combination of the internal factors and external factors. (Johnson, Scholes and Whittington 2006, 347) |STRENGTHS (S) |WEAKNESSE S (W) | |OPPORTUNITIES (O) |SO STRATEGIC OPTIONS |WO STRATEGIC OPTIONS | | |USE THE FIRMS INTERNAL STRENGTHS TO TAKE |IMPROVING INTERNAL WEAKNESSES BY TAKING | | |AVDVANTAGE OF EXTERNAL OPPORTUNITIES |ADVANTAGE OF EXTERNAL OPPORTUNITIES | |THREATS (T) |ST STRATEGIC OPTIONS |WT STRATEGIC OPTIONS | | |USING FIRMS STRENGTHS TO AVOID OR REDUCE |DEFENSIVE TACTICS AIMED AT REDUCING | | |THE IMPACT OF EXTERNAL THREATS |INTERNAL WEAKNESSES AND AVOIDING | | | |ENVIRNONMENTAL THREATS | (Johnson, Scholes and Whittington 2006, p. 347) Vodafone’s TOWS MATRIX INTERNAL FACTORS |STRENGTHS (S) |WEAKNESSES (W) | |OPPORTUNITIES (O) |SO STRATEGIC OPTIONS |WO STRATEGIC OPTIONS | |THREATS (T) |ST STRATEGIC OPTIONS |WT STRATEGIC OPTIONS | ———————– Software Suppliers Hardware Suppliers Third Party Service Providers Vodafone Indirect Channels Direct Channel Online Sales Broadband Customer Personal Customer PROFIT MARGINS SUPPORT ACTIVITIES | | B usiness Customer PROFIT MARGINS PRIMARY ACTIVITIES INTERNAL FACTORS EXTERNAL FACTORS EXTERNAL FACTORS How to cite Business Strategy, Papers Business Strategy Free Essays Application Exercise (Assignment to be submitted) (180 min. ) * Construct a value chain for your department/ division/ company and contrast it over time or vis a vis a competitor, to try and explain the business performance. | | Guidelines for the assignment * Brief introduction of your firm and division. We will write a custom essay sample on Business Strategy or any similar topic only for you Order Now * Draw a value chain of your division/company. (as next best choice generic chain will do) Enlist all the activities under the relevant primary and support functions. Show how each activity is being pursued now, and also differently over time, by your firm. (OR if comparison is not over time but with a competitor’s value chain, show how they perform it differently) * Indicate internal links within the activities, if any. Show how the activities of the value chain are linked to company strategy and structure and how these links enhance competitive advantage. (or show the lack of these links and divergence of activities-scope for improvement in value chain. ). Explore external links (eg. lignment of activities with vendors that enhances differentiation. ) * Conclude-Reflect on overall shift in value chain over time OR difference with competitor’s value chain and how that results in difference in business performance. * The assignment submission should not exceed 5 pages| | About VMware VMware is the global leader in virtualization and cloud infrastructure, delivers customer-proven solutions that accelerate IT by reducing complexity and enabling more flexible, agile service delivery. VMware enables enterprises to adopt a cloud model that addresses their unique business challenges. VMware’s approach accelerates the transition to cloud computing while preserving existing investments and improving security and control. With more than 350,000 customers and 50,000 partners, VMware solutions help organizations of all sizes lower costs, increase business agility and ensure freedom of choice I belong to the Consulting Services Division of VMware where we carry out the consulting implementation and management of customer projects Vmware’s Value chain is broadly covered as below . The Value Chain Analysis of VMware covers two categories of activities – primary and support activities. The primary activities are most familiar, as it deals with the steps and processes necessary to take the VMware product or service from RD to final customer sale and support. * Suppy Chain Management – covers the identification, sourcing, procurement, and supplier management of the â€Å"raw materials† that comprise the final product or service. Operations – covers the engineering, inventory management, and manufacturing of the final product or service. Note:   any technologies incorporated into the product or service are also included here. * Distribution – covers the entire channel network and partnerships that VMware drives for distributing the key platform product solutions * Marketing and Sales – covers the marketing, merchandising, promotions, advertising, sales, and channel management to get the completed product and service to the end customer. Service – covers the support and maintenance of products and services after they are delivered to the customer. The secondary activities are less familiar, but equally important in supporting product and service scalability. * RD – covers the testing of the product as per the customer specifications, development and roll out of new product updates * Technology Development – covers the supporting technologies, both information technologies as well as other technologies, important for keeping the lights on. Technologies integrated into the product would be covered in the Operations stage. * Human Resource Management – covers the recruiting, hiring, development,and firing of personnel. * General Administration – covers the general admin tasks of the company (buildings, offices, warehouses) I belong to the Services Department function which forms the primary form of activities in the value chain in terms of delivering the value of the virtualization and cloud benefits to customers as per VMware best practices. Compared to our competitor which is Microsoft our services are allinged to be more proactive to customers in the form of Technical Account Manager program. The product profolio that we drive in the Services and consulting space are truly key in giving VMware 84% of the global market share. VMware Professional Services offer end-to-end consulting services for Datacenter, Virtualization Management, Desktop Virtualization and Cloud Services. Our service offerings are based on in-depth virtualization expertise, proven best practices, and repeatable delivery methodologies to help customers realize the full value of virtualization for IT as a service computing models faster, and with less risk. Based on best practices from working with thousands of customers and using reliable, repeatable methodologies, our services are designed to help Assess the current environments, Plan and design solutions that meet the desired business objectives, Build and implement the desired virtualization solutions, and Manage the environment with staff augmentation and performance tuning Regardless of the level of a customer’s virtualization maturity or business need, VMware Consulting Services accelerate the business value of IT transformation to IT as a Service computing models, through virtualization, with less risk compared to our competition which is the key differentiator in our engagement with customers compared to competition. We have provided key differentiators in our Services Value chain which has resulted huge business benefits to VMware the summary of which is as below – Year-over-Year Revenue Growth of 25% to $1. 6 Billion – Operating Margin of 20. 6%; Non-GAAP Operating Margin of 32. 6% – Trailing Twelve Months Operating Cash Flows Growth of 64% to $2. 12 Billion; Free Cash Flows Growth of 53% to $2. 07 Billion Service revenues, which include software maintenance and professional services, were $573 million for 2012, an increase of 35% from 2011. The use of value chain analysis facilitates the strategic management of VMware as an organization. The three main types of competitive strategy are cost leadership, differentiation, and focus. Cost leadership is a strategy that relies on lowest-cost production and delivery, while differentiation relies on outstanding quality or product (program/course) features. The focus strategy relies on differentiation or cost leadership for a particular product or market niche. Value chain analysis is a framework that can provide a number of benefits to the VMware management of virtualiation and cloud computing organizations. This analysis help VMware managers of to identify linkages between value activities within the organization, and to think in terms of process rather than function or department. Through analysis of the value system, managers identify potentials for strategic alliances with various actors in the industry value system. Identification of cost drivers and linkage with value chain activities help managers focus on cost reduction and on finding ways to optimize returns throughout the value chain. As well, value chain analysis helps managers understand cost management problems. Failure to see the impact of a decision on the overall value chain will result in missed opportunities for VMware. The value chain framework allows VMware to break down the chain—from basic infrastructure and support, to software development, to customer support and service—into strategically relevant activities to understand the behavior of costs and the sources of differentiation. Profit Margin is typically only one part of the larger set of activities in the value delivery system. Gaining and sustaining a competitive advantage requires that VMware understands the entire value delivery system, not just the portion of the value chain in which it participates. Suppliers and distribution channels have profit margins that must be identified if one is to understand VMware’s cost or differentiation positioning, because the customers ultimately pay for all the profit margins throughout the value chain. Broadly the value chain framework is used as powerful analysis tool for the strategic planning and to build the organizational model ensuring an effective leadership model. The value chain concept is applied also in the individual business unit and is extended to the whole supply chain and distribution networks of VMware. To form a successful product for VMware it is important to add value in each activity that the product goes through during the life cycle. The best possible value can be achieved in the product development process by adding value in each stage. For that it needs all, or a combination of, value chain activities and a proper synchronization among all the related activities. A proper organization is required that contains all the required functional departments to perform these activities and a proper communication approach is required to synchronize the activities of these functional units efficiently. How to cite Business Strategy, Essay examples Business Strategy Free Essays MPM703 Business Strategy and Analysis Trimester 1, 2013 Assignment: Business Strategy Report In this assignment you are acting either as a group of strategy consultants (group assignment), or as one strategy consultant (individual assignment). You have been asked to prepare a strategy report for a business. The first step is to select a business as the subject of your assignment. We will write a custom essay sample on Business Strategy or any similar topic only for you Order Now The business can be a publicly listed company in Australia or overseas which is of interest to you or other members of your group, or it may be a large private or family business located either in Australia or overseas. Do not use or refer to assignments completed by students for this unit in previous trimesters. (A record of past assignments is kept on a database). Note also that the requirements of the assignment change from trimester to trimester. The focus of this assignment is on the business level of analysis. Therefore if you select a diversified company then make sure you focus only on one of the company’s business units. The report must be specific and applied to the business. In other words you must apply the relevant concepts and tools of business strategy to the particular conditions and circumstances of the business you are studying. General statements and references to theories and models that are not applied to the business will not add value to your assignment. Similarly, data about the business that is not analysed and presented from a strategic perspective – using the relevant concepts and tools of strategy – is of little value. To help you in this exercise, consider the position of the CEO of the business who will be reading your report and looking for a strategic analysis and recommendation that is practical and specific to her or his business. The CEO does not want to read a broad analysis that could apply to any number of organisations and does not ‘speak’ to their business. Group or individual submission This assignment may be completed either as a group submission (up to 5 people) or as an individual assignment (one person only). Either way, you must sign up in one of the group assignment spaces online. Marking will be done without regard to whether the assignment was a group or individual submission. In other words an individual assignment should be of a similar standard and quality to that of a group assignment. For group assignments the mark will be shared by all in the group. Therefore: 1. Allocate the various tasks among your group members and agree on interim due dates for the stages of work. Make sure your interim due dates allow for drafts to be circulated and edited so that the final submission is of the highest standard. 2. Each group member must make a relatively fair and reasonable contribution to the report, in whatever form or shape that might take, in order to share equally in the mark. In the rare event that there are any issues you should contact me two weeks prior to the report due date so that a resolution can be reached. Report format and requirements The presentation of your report is a critical aspect of this assignment. It is essential that your report is formatted appropriately, and carefully edited and re-edited to achieve a professional standard. Allow time to draft and re-draft your assignment prior to the due date in order to improve the quality of writing and presentation. You must follow carefully the report structure and requirements set out below. 1. Title Page In the title page, you should include: †¢ Title of the report, e. g. ‘Company X: A Business Strategy Report’. Cloud Deakin Group number (whether you are a group or individual). †¢ The names and student IDs of your group members. †¢ Off campus or on campus status. †¢ Date and Unit Code. †¢ Name and postal address for the return of your assignment. 2. Table of contents Include all of the section headings and subheadings used in your report, together with page numbers. 3. Executive summary (Less t han 300 words) This is a one page only summary of the report, written as a series of short paragraphs, outlining your key findings and recommended strategic option. 4. Introduction (Approximately 400 words) This section provides some background and context to your report. Your introduction should include: †¢ A brief description of the reasons for undertaking the study, i. e. the value of undertaking a strategy review of the business. †¢ An introduction to the business and its macro environment and industry. 5. Strategic Analysis 5. 1 Methods (Approximately 200 words) Provide a brief description of the techniques of data collection and analysis used in this section, including an outline of the sources used to gather the data upon which the report is based. Data may be collected from sources within the business (business documents, questionnaires, interviews) and from industry reports, media sources, the World Wide Web and database searches. It is important to describe the types and quantity of your data sources so that the reader can evaluate the quality and validity of the data on which your analysis is based. 5. 2 Business strategy statement (Approximately 300 words) Describe the mission, vision, objectives, scope, and advantage of the business (see section 1. 2. 3 in the text). Summarise these descriptions into a clear and compelling strategy statement in 35 words or less. . 3 External analysis (Approximately 800 words) †¢ Conduct a PESTEL analysis of your business’s macro environment, evaluating whether each of the PESTEL factors are positive, neutral, or negative for the industry. †¢ Provide an overall evaluation of the impact of these factors on growth and consumer demand in the industry. Explain which of the inf luences in your analysis are likely to be the main drivers for change in the future. †¢ Using the five forces framework described in your text, evaluate and briefly describe the key forces at work in your business’s industry environment. Draw a strategy canvas for your business and the two main rivals (see Figure 2. 9 in the text). Describe briefly the three most critical success factors for your business (see pp. 73-74 in the text). 5. 4 Strategic capability (Approximately 400 words) †¢ Describe your business’s strategic capability in the form of a value chain analysis. †¢ Present a SWOT analysis in table form. 5. 5 Strategy and culture (Approximately 400 words) Draw a cultural web of the business (see Chapter 5 of your text and Figure 5. 8). Briefly evaluate the relationship between the business’s culture and its strategy. . 6Strategic direction (Approximately 450 words) Identify and describe the one most viable strategic direction for the busin ess. To undertake this task refer to Figure 7. 2 on p. 232 and the relevant commentary. Explain how your chosen strategic direction allows the business to: †¢ Respond appropriately to the industry and macro environments described in your external analysis. †¢ Match the strengths of the business to the opportunities in the environment, described in your earlier analyses, to achieve a sustainable competitive advantage. . Conclusion (Approximately 250 words) This section is written in paragraph form to provide a summary of one key finding from each of the report sections from 5. 2 to 5. 6. 7. References List all of the references referred to in the report. Please note that appendices are not allowed. Requirements Word limit:3500 (excluding the references only) Line spacing: 1. 5 Font size: 12 Contribution to your final mark: 40% Due date: 3. 00pm, Tuesday 7 May 2013 NB. Words in excess of 3500 will not be marked. Assignment submission rules All assignments are to be submitted online, in addition to a printed copy delivered to the Faculty office, or handed in at lecture. For off campus students the mailed hard copy of the assignment is deemed to be on time if sent and post-marked by the due date of the assignment. Please note that the version of an assignment you submit electronically must be the same as any version you submit in any other form. Students enrolled through partnership agreements must submit as required by the unit chair at the partner institution on the due date. Assignments are on time if they are submitted online and in hard copy on the due date. On campus students must submit the printed version in lecture or at the Faculty office by the due date; off campus students must mail their submission on or before the due date to: Assignment Tracking AASD Deakin University Waurn Ponds, VIC, 3217 3Remote students: A student is classified as remote if they are living in a place where it takes more than 3 days for mail to reach Deakin University, Geelong, for example overseas in certain locations. If you are a remote student, you may submit your assignment by email to jaynes@deakin. edu. au If you are a remote student and submit via email, please clearly state your name, student ID number, unit code and assignment number on the email. It is also recommended that you place this information on your assignment as a Footer or Header. The Assignment Tracking staff will print your assignment and place an Assignment Attachment Form onto your assignment. It will then be tracked and sent to your assessor for marking the same day. When returning the assignment, the assignment will be sent by normal postage and not via email. Please do not post another version in the mail if you email your assignment. 5 No extensions will be considered for assignment submission due dates unless a written request is submitted to and negotiated with the unit chair. 6 Assignments submitted late without an extension being granted will not be marked. Plagiarism and other academic offences Plagiarism is the copying of another person’s ideas or expressions without appropriate acknowledgment. Please read the notes on plagiarism in the Unit Guide. How to cite Business Strategy, Papers Business Strategy Free Essays Victorians Secret, in both its’ business and e-business components use a B to C business strategy that focuses on the same market segment and economics in both channels. Strategically the company focuses on individual business processes instead of its’ business model so that it can improve upon some of them with technology as this avoids a primarily internet-driven business model which could affect the sales of their retail locations. Their business processes that support their verbal selling and purchasing activities for their physical locations can be utilized by the e-commerce channel of the business as well as the retail locations which is a strategy implemented in order to reduce transaction costs by improving the flow of information within the company and its’ channels. We will write a custom essay sample on Business Strategy or any similar topic only for you Order Now This helps to coordinate the actions for both channels which is useful in maintaining the same brand standards regardless of where the consumer is buying the product. An example of this would be the technique library database the company established which Is shared among all regions/suppliers and includes company standards of design and production. Victorians Secret implements a business strategy that makes use of multiple marketing channels such as their retail stores and e-commerce channel. They utilize a 360 degree approach for the website with channel cooperation regarding their already established physical locations. Victorians Secret strategically avoids channel conflict by differentiating certain products such as best sellers and only offering them for sale from Victorians Secret, In both Its’ business and e-business components use a B to C business strategy that focuses on the same market segment and economics In both the e-commerce channel of the business as well as the retail locations which Is a be the technique library database the company established which is shared among. How to cite Business Strategy, Papers

Supply Chain Management as an Indispensable Business Component

Product and Service Differentiation Supply chain management is an indispensable component for organizations in managing the supply of their products into the market, starting from the industry to the final consumer. This is the case with pharmaceutical firms.Advertising We will write a custom report sample on Supply Chain Management as an Indispensable Business Component specifically for you for only $16.05 $11/page Learn More A firm needs to competitively stay in the market ahead of others by creating competitive strategies and aligning them with organizational goals, objectives, and vision. This is particularly the case with pharmaceutical firms where prices of medicines are tightly controlled by the government. For a firm to create competitive advantage over its rivals, strategic approaches incorporated in the pursuit of its goals include product and service differentiation. Clever company executives realize that there are no controls over these areas and endeavor to strategically exploit them to the competitive advantage of a firm. To aggressively and innovatively pursue a firm’s strategic goal and remain competitive, a firm incorporates several approaches discussed below. Increasing the Product Range Sustainable profits, a wide market, strong market position, and a strong image are core elements company executives innovatively factor into a firm’s pursuit of its strategic goals to competitively remain in the market. A firm may differentiate its core activities by diversifying them to gain sustainable profits. These are achieved by increasing the product range offered by a firm in addition to the sale of medicine, a core business activity. Firm managers realize that diversifying a firm’s product range increases its market base and profit generation. This has the additional effect of improving a company’s image, increasing the customer base, and advertising the name of the company. Training Staff to B e Helpful and Knowledgeable Customers determine the profitability of a company. A satisfied customer will always tell another customer about a service or a product. In addition to that, a satisfied customer will always go back for more. To achieve this, company executives train staff to better equip them for better service provisions and product delivery. Staff training equips staff with appropriate work related technical skills leading to personal development. This is a motivational factor for employees and their managers. Companies however, should adopt the most cost effective training methods appropriate for employee working conditions. Specific job procedures and technical knowledge span areas companies should concentrate on in the training process. According to the Staff Training document, training strategies in the technical field can be external, internal, or online (2). Thorough investigations about one’s job should be done by company executives before training commen ces. Technical trainings are at times short as the knowledge gained is exact (Staff Training, 2).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More On the other hand, on-the-job procedures require an accumulation of knowledge and focuses on knowledge and skills transfer. This involves old employees taking new employees through work related procedures and activities. Thus, employees become effectively equipped with the knowledge and skills to provide better services and improve company image. The contents and skills needed for the training should be clearly identified and defined in the process. In the process, training procedures should be identified and documented, and training approaches determined also. A staff training program should incorporate methods of delivery. These may be formal, informal, or on-line as mentioned above. Working with Manufactures Details such as the condition of th e goods on arrival, deviations or consistency with the agreed upon price, quantity of products delivered, reliability and integrity of documentation, the delivery time, and the ability to sustain a product’s packaging are critical elements when working with manufacturers and suppliers. The performance of a supplier can be rated on the technical skills of its employees, management competency, management approaches to enforcing controls, ability to consistently supply the required products, its financial stability, and its strategic abilities in terms of its capital needs. Supplier reliability is influenced by the attention performance appraisal staff gets from the supplier firms, individual attitudes, maintenance levels of manufacturing equipments, quality control enforcement mechanisms, effective housekeeping, and the level of technical expertise of the supplying firm. This ensures inventory control and reliable and sustainable stock levels. This leads to customer satisfactio n and places a firm at a competitive advantage over its rivals. Value Addition Services Any firm on the fringes of success must factor value addition services to its products and service delivery. This is not the core business of a firm, but is a promoting strategy for increased consumer spending on a product or service.Advertising We will write a custom report sample on Supply Chain Management as an Indispensable Business Component specifically for you for only $16.05 $11/page Learn More A firm may strategize on a cost effective approach in offering value addition to its customers. These services can be outsourced or developed in-house. Value added services may add additional costs to a company but the benefits out weigh incurred costs. Some of the benefits include customer satisfaction, better ratings, increased consumption of its products and services, better responses to customer concerns, better analysis of customer behavior, more information on pr oduct innovation in line with customer needs and wants, and better customer involvement in product innovations. Advertising To persuade the market and gain a bigger share and maintain a strong position, pharmaceutical firms have to continuously advertise the range of their products to the consumer. Consumers well equipped with appropriate knowledge about current company products are likely to develop positive minds in their buying process. Besides advertising their products, firms include their names in adverts to create a good image about them and their products. Advertising targets various groups of consumers. These include individuals, various governmental and non-governmental organizations, and other groups of interest. Advertising should target each group’s needs and the best products and strategy to satisfy their needs and wants. In addition to that, advertising should be environmentally friendly and should generate feelings about environmental conservation and preserva tion. This generates increased product consumption, increased confidence, and better branding. Different media can be used to reach various audiences. These include the internet and radio among others. Sales promotions, marketing mix, and other advertising strategies competitively place a firm ahead of its rivals. The marketing concept of product, place, price, and promotion should be vital in the marketing strategy. The product element spans packaging, product warranties, product quality, and safety. Price spans discounts, skimming and other strategies, flexibility in pricing, and seasonal discounts. Place spans market size, distribution channels, warehousing, and inventory controls. Promotion includes public relations, the communication budget, and the push and pulls approaches in marketing among other elements (Marketing 1). Automated Dispensing System One strategic advantage of a firm is to incorporate an automatic dispensing system in its products and services delivery. This te chnology facilitates service and product delivery. Employees incorporate their skills in the use of this facility in enhancing and improving productivity in the workplace. The resulting benefits span employee, customer, and management satisfaction and work level productivity.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Works Cited Marketing. Internet Center for Management and Business Administration, Inc. 2002-2010. 14 Aug. 2010. http://www.netmba.com/marketing/mix/Â  2002-2010. website NetMBA.com Staff Training. Preliminary Strategies. 14 Aug.2010. Web. This report on Supply Chain Management as an Indispensable Business Component was written and submitted by user WendellVaughn 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.

A sacrament is an outward sign of inward grace Essay Example

A sacrament is an outward sign of inward grace Essay Example A sacrament is an outward sign of inward grace Essay A sacrament is an outward sign of inward grace Essay A sacrament is an outward sign of inward grace. Most Protestant Christians recognise seven sacraments, baptism and the Eucharist. The Catholic Church recognises seven sacraments. Sacraments are public actions by which Christians receive grace, that is, experience the power and love of God in their lives.The seven sacraments are Baptism, Confirmation, the Eucharist, Penance and reconciliation, anointing of the sick, Holy Orders and Matrimony.The seven sacraments for Catholics represent the high points of their lives and are closely related to the liturgy, the public worship of the church.The sacraments can also be seen as an expression of faith. When we are baptised we are given a new life. As we experience each sacrament we also experience Gods love for us.The original sacrament for Catholics is Jesus, who in his own life, showed what God is like. The church too is a sacrament because it continues to show Gods presence in the world.To emphasise on the on the Sacraments is to make a d istinctive feature of Catholic Christianity.Christians believe that the more sacraments we fulfil the deeper our faith becomes in God. Therefore our relationship in God deepens.To be catholic means having faith in God. Being in a Christian community means we must love one another, attend mass regularly and develop our relationship with God through prayer.Christianity is a sacramental religion where Catholics start their new life through Baptism and follow each sacrament as we develop our relationship with God. Our belief in the faith of the Church also develops. We go to get confirmed as a Christian later on in life so we can continue to follow God.Having faith in god is another thing being a Catholic is all about. Catholics have faith in God and sometimes put this faith into action by working for justice and peace. Some Catholics decide to stand up for something or preach to spread the Good News. When they do this they have faith that God is with them and is giving them the strengt h to do what they are doing.Baptism is a sign of Gods love. When we are baptised we are invited to join His family. It is our parents faith and love that brings us to baptism. When you are baptised we are turning away from sin. Humans are born with the tendency to sin so this is the life we want to reject.Jesus sets he example all Christians should follow. Baptism means Jesus identifies with us and we share in Christs life, His death and resurrection.John 3:5 Tells us that Jesus says No one can enter the Kingdom of God without being born of water and the spirit. This basically means that you must be baptised to enter the Kingdom of God.Romans 6:4 It tells us that because we have been baptised we, like Jesus, will live a new life. We are born again.Matthew 28: 18 20 -1 Connthias 12:13 This tells us that whoever you are or whatever religion you follow you are baptised into one body by the same spirit.Galatians 3:27 This tells us that when you are baptised, you are baptised in the union of Christ.Baptism usually takes place at the alter with the priest, the baby (or the one getting baptised) and the parents present. The priest tells the parents that in having your baby baptised they are accepting the responsibility of training him/her to practice the faith. The priest then asks the Godparents if they are willing to help do this.Each symbol used in Baptism is a sign of what is happening to the baptised person. They should then affect the way that person lives their life.Chrism oil is a symbol of being chosen for a special task in life. The anointing with Chrism after baptism is a reminder that the new Christian shares in the life of Jesus who was priest, prophet and King.In the early days of the church, new Christians were given a white garment to wear as a sign of their new life in which they rejected all sin. White is a colour associated with innocence and purity.Matthew said that white garment is an outward sign of Christian dignity.A candle is given to on e of the parents who light it from the great paschal candle, which represents the resurrection o Jesus. The ideal time for baptism is at the Easter Vigil, which celebrates the rising of Jesus from death to new everlasting life.Godparents are the spiritual guardians of the baptised. Baptism should affect the way they try to help guide children.Godparents, first and foremost, must be full members of the church. They cant be 11 for example because they would have to fulfil their promise of taking responsibility of Religious instruction. They have to train him/her to practice their faith. Young ones cannot carry out these promises. Usually there are 2 Godparents, a Godmother and a Godfather. They are seen as the Spiritual Guardians of the child and are given responsibilities when the child is baptised.In the earliest days of the church, the sponsors at the baptism of a child were the parents. But as the baptism of a child were the parents. But baptisms then were seen as old traditions.T hose days sponsors were called Spiritual Parents and their duty was to give instructions both before and after baptism and to be a guardian of the spiritual life of the baptised person. This is the origin of the term Godparent.Baptism is a sign of Gods love for us all of the uniqueness, sacredness and beauty in every human being. Baptism must then effect our attitude to life.Serving others had been an important part of Jesus message. Christians and non- Christians both do social work but non-Christians do it for something whereas Christians do it for someone. They do it for God. It is their love of God in action.The final Judgement tells us how Christians should live their lives. It says that God will divide peoples of all nations into two groups: those who served others and those who did not.He will tell them: I was hungry and you fed me, thirsty and you gave me a drink, stranger and you received me in your home, naked and you clothed me, sick and you took care of me, in prison an d you visited me. The righteous will ask when they did all this and God will reply, whenever you did this for others you did it for me.This is how God and Jesus expect us to serve others.The Christian principle serve other comes directly into conflict with the principle of obey your government. One dramatic example of this comes from the Latin American Christians.In the 1960s many countries in Latin America were military dictatorships whose regimes were often brutal and corrupt. They ignored human rights, took the best land and industries for their own profit and murdered their own citizens. Their economic policies made the poor poorer and the rich richer. Anyone who questioned the rulers were branded communists and often killed.Christians in these countries found it difficult to believe the government were put there by God and they also found it equally as difficult to serve others without challenging the government.The situation of poor people has not changed much, but out of this situation developed a way of thinking about God and religion which became known as Liberation Theology. This sees God as the liberator who sets people free, who sides with the poor and who hates injustice.A Christian who said:When I give food tot he poor,They call me a saint.When I ask why the poor have no food,They call me communist.Is trying to emphasise that the poor welcome the generosity of others but those in power take it as an offence.An individual person may think that any personal effort to give or send aid is virtually useless. The Catholic Fund for Overseas Development (CAFOD) is a voluntary service that much relief from poverty is given. It is the United Kingdom unit of Caritas International. It was set up by the bishops of England and Wales in 1962 to express the concern of the Catholic Church for overseas development. It is funded from the private charity of people who feel that they cannot allow world organisations, agencies of the United Nations and governments to be the only source of help for the developing Nations.A CAFOD group in a school or parish learns about the problems facing the poor, and they raise funds to support the self-help projects initiated by CAFOD. A committee of parishioners will sometimes act as a link between CAFOD and the whole parish.The projects of CAFOD are linked with community development, food production, water supplies and origination, preventative medicine, vocational training and adult education.Particular projects may include a village well: a rural dispensary; a mother and child nutrition scheme; a latrine programme in a slum. These projects aim at developing a healthy community.CAFOD operates because it believes in the basic equality of all people in the sight of God. Human dignity demands a reasonable standard of living. Everyone has the same basic needs of fuel, clothing and shelter. All who have been baptised share in the risen life of Christ and they try to bring to The Good News to he poor as Jesus did . CAFOD is a way of being with Christ ho is hungry, thirsty and in need.CAFOD is carrying out the baptismal promises of helping by putting it into action.Abortion is not mentioned in the Bible, but from its earliest history the Church consistently opposed it. This remained the attitude of most Christians until the 1960s.Other Christians maintained and defended the Churchs traditional teaching on abortion. In 1968 Pope Paul VI published his authoritative statement Humanae Vitae (on Human Life). It restated as an absolute rule for all Catholics that abortion was wrong.In the 1960s many old ideas were reconsidered. Some church leaders felt that traditional teaching on abortion was not useful in the modern world because unqualified people, at great risk to the mothers health was carrying out dangerous, illegal abortions in unhealthy conditions. Some Christians argue that the most moral thing to do was to resolve the situation.In 1970 Pope Paul VI said that abortion had been considered t o be murder since the first centuries of the Church, and nothing permits it to be considered otherwise.Many Christians would feel it was important to show compassion for the woman whatever her decision. This would mean showing that they cared for her and would support her whether or not they agreed with her actions.Most people felt that life is valuable but Christianity teaches that every person is made in Gods image and all life is a gift from God and therefore is sacred.Baptism is important because its a sign of Gods love. When we are baptised, we are invited to join His family. It is the faith and love of our parents that brings us to baptism. When you are baptised we are turning away from our tendency to sin.The origin of baptism for Christians is the baptism of Jesus. It marked a new beginning in His life. God declared Him to be His son and He received the Holy Spirit. A person who is baptised becomes a child of God through the gift of the Holy Spirit. Baptism can shape the way we think and change our lives through serving others. This was an important part of Jesus message. They may want to support such organisation like CAFOD. All those who have been baptised share in the risen life of Christ and try to bring the Good News to the poor as Jesus did. CAFOD are carrying out the baptismal promises of helping others by putting them into action. By supporting them we are doing the same.The Catholic Church believes that euthanasia is wrong, that life is sacred and only God can make decisions over death. The Pope said euthanasia was contributing to a profound change in the way life and relationships between people are considered and called it a grave violation in the Law of God.Catholics realise that in practice decisions on euthanasia are not straightforward. For example, Catholics accept that it is right to ease the suffering of the terminally ill, even when the effect of using pain relieving drugs may be to end the patients life sooner than if they were left to suffer. They do not see this as euthanasia, because no one is changing what would naturally happen in the situation.Christians through the ages have found that the grace of God sustains heart and mind to the end in difficult situations and so can Christians today who face painful or drawn out death. A Priest should always refuse the sacraments to those who do not practice their faithFaith is a gift from God and it demands a living response. It is trust in Gods love care. This is what it means to practice the faith and this must be clarified in order to discuss the statement.Faith is our personal relationship with God whom Christians practice through prayer, awareness of the spiritual in life and the living out of gospel values.We practice the faith when we follow the commandments of Christ, which are a summary of the Ten Commandments.We practice the faith when we serve others, when we show compassion for those who suffer and work to remove the causes of injustice especially in t he developing world.So after looking at this we can ask ourselves if the priest uses only Mass attendance as a measure of practice of the faith?I think that a Priest should never refuse the sacraments to those who dont go to church. If he has doubts about the persons faith then, being a priest, he should help them and guide them. He should remember that Jesus rejected nobody and the priest should look at His example as a guideline.We should also remember that God is not limited tot he Sacraments He loves all His people. Priests should also remember that a child cannot start his/her Christian journey if he refuses Baptism. The reputation of the parents should not be taken into account when it comes to the decision of whether or not to baptise the child.Although the child cannot make up his/her mind on their own at their young age, their parents attitude tot he faith should not be burdened upon the child.So by looking at this we can question, also, whether a person who is not willing to give thanks to God in the Eucharist want the gift of life for his family.The Priest should explore the motives of the parents. To make his decision he has to have reasonable certainty that there is honesty and freedom in the intentions of the parents as they promise to bring up their child in the faith. Faith is a living relationship with God.Other Christians, who believe that a priest should always refuse the sacraments to those who do not practice their faith, can argue why, if they dont attend mass, they should receive the sacraments. Many people would agree with this even if they werent Christians. We can argue that although, for some reason, they dont attend mass they may want their child tot receive the sacraments and the Godparents appointed at the Baptismal Ceremony to carry out their promises and bring up the child in the faith.When the parents want their child baptised they must understand exactly what they are taking on. If this understanding is not there the priest m ay have to refuse baptism or at least postpone it.The priest may have to look at the needs of the community and would have to be careful that refusal did not stigmatise a family.The influence of grandparents or close friends of the family may ensure that the child will be brought up in the faith.The family may need special consideration. This is where the Parish Community may support the weak faith of a parent who is trying to bring up a family in the love and knowledge of Jesus.It must be evident that there is a personal relationship with the Lord before the priest can accept a request for Baptism.So in conclusion, we can say that we know God is not bound by the sacraments. A child Baptised and brought up outside the life of the church can go on to live a life of faith.Those parents who have doubts or do not attend church regularly should find support and help from the church community not refusal.

10 high-paying trucking jobs hiring right now

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Response to case study - Essay Example When children face sexual or physical abuse at a tender age, it is nevertheless surprising that they may show violent behaviors to their peers (John, 2011). This expository essay seeks to describe, explain and explore a scenario in a society setting where violence is witnessed though a young girl named Ebony. It further compares and discusses problems revolving around the school in question and effects arising. In this case study, Ebony a 14 year old girl is depicted as a morally upright girl who appears innocent and free of blame. This tells much about her back ground and upbringing. From a teacher’s perspective, it is obvious from the case that Ebony hails from background that values morals. She has showed exemplary performance in school which is an indication of high level of discipline. In fact, at her age, it would be difficult to maintain such good performance given that this is a highly precarious moment when most teens are out to discover the world which in turn affects their performance. On the same note, her stature speaks much about herself. She is tall above average for her age and this places her as more mature compared to her peers (Ness, 2010). In fact, it is evident from the case that Ebony is less social and shy. In this respect, it may have been possible that her peers had great expectations from her in the social world. This implies that she might have turned down their offer from time to time. It is possible that, due to her outstanding traits that are different from her average peers, she may have felt totally incompatible with them. In addition, she stands out as ingenious which implies that she has out grown her actual age mentally and she has started to have self discovery making her identify her purpose in life and work towards achieving her goals in life. This is why she is seen as totally different in comparison to her

Importance Of Profit And Loss Account Accounting Essay

Importance Of Profit And Loss Account Accounting Essay The Profit and Loss Account is a Financial Statement which summarizes a companys revenue and expenditure for a specific period of time, usually prepared annually or quarterly. These statements provide information that shows the ability of a company to generate profits by increasing its revenues and reducing costs. The Profit and Loss Account is also known as a Statement of Profit and Loss, an Income Statement or an Income and Expense Statement. IMPORTANCE OF PROFIT AND LOSS ACCOUNT : Profit and Loss Account represents a companys ability to generate income through their business operations. Many times businesses will need financing to help create the facilities for their operations. Smaller companies usually obtain bank loans that are based on the amount of income a company has earned from past operations. Solid Profit and Loss history is essential for getting the best loan terms. Profit and loss statements are important also because many companies are required by law or association membership to complete them. Apart from this, a profit and loss statement will help the company to understand their net income, which may be helpful in decision-making processes. That is, it gives one the information needed to grow or expand his business. KEY ITEMS OF THE PROFIT AND LOSS ACCOUNT : Income from Sales Cost Of Goods Sold Gross Profit Operating Expenses Net Profit from Operations Other Income Other Expenses Net Profit STANDARD STRUCTURE OF A CORPORATE PROFIT AND LOSS ACCOUNT: Profit and Loss Account for the year endedà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦ Particulars Rs. Particulars Rs. To Gross Loss à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. By Gross Profit à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Salaries à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. By Interest Received à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Rent à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. By Commission Received à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Rent and Rates à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. By Other Receipts à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Discount Allowed à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. By Etc., Etc. à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Commission Allowed à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. By Net Loss (Transferred to Capital Account of the Trader) xxxx To Insurance à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Bank Charges à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Legal Charges à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Repairs à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Advertising à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Trade Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Office Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Bad Debts à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Travelling Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Etc., Etc. à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Net Profit (Transferred to Capital Account of the Trader) xxxx Profit and Loss Account for the year endedà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦(Statement Form) Particulars Rs. Rs. Rs. Income From Sales: Sales à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Less: Sales Returns à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Sales Discount à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Net Sales à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Cost Of Goods Sold: Stock as on 1stJanuary à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Purchases à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Less: Purchase Returns à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Net Purchase à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Cost Of Goods available for sale à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Less: Stock as on 31stDecember à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. COGS (Cost Of Goods Sold) à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Gross Profit xxxxxx Operating Expenses: Selling Expenses:- Sales Salary à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Advertising Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Insurance Expenses selling à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.. Store Supplies Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Sundry Selling Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Total Selling Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. General Expenses: Office Salaries à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Taxes à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Insurance Expenses general à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Office Supplies Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Sundry General Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Total General Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Total Operating Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Net Profit from Operations xxxxxx Other Income: Rent Income à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Other Expenses: Interest Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. NET PROFIT xxxxxx GIVEN BELOW IS THE PROFIT AND LOSS ACCOUNT OF TATA STEEL LIMITED :- (This will help us understand the purpose of a Profit and Loss Account and also enable us to understand how a Profit and Loss statement is made.) Profit Loss Tata Steel Ltd Mar12 Mar11 Mar10 Mar09 12 Months 12 Months 12 Months 12 Months INCOME: Sales Turnover 37,005.71 31,901.94 26,757.60 26,843.53 Excise Duty 3,167.20 2,594.59 1,816.95 2,495.21 NET SALES 33,838.51 29,307.35 24,940.65 24,348.32 Other Income 0.00 0.00 0.00 0.00 TOTAL INCOME 34,389.27 29,635.26 25,272.24 24,653.68 EXPENDITURE: Manufacturing Expenses 5,608.38 4,463.65 3,803.33 3,349.96 Material Consumed 9,696.65 9,222.27 8,491.42 8,279.44 Personal Expenses 3,047.26 2,618.27 2,361.48 2,305.81 Selling Expenses 1,832.40 109.36 82.17 61.49 Administrative Expenses 2,119.56 1,922.33 1,622.77 1,518.83 Expenses Capitalised -478.23 -198.78 -326.11 -343.65 Provisions Made 0.00 0.00 0.00 0.00 TOTAL EXPENDITURE 21,826.02 18,137.10 16,035.06 15,171.88 Operating Profit 12,012.49 11,170.25 8,905.59 9,176.44 EBITDA 12,563.25 11,498.16 9,237.18 9,481.80 Depreciation 1,151.44 1,146.19 1,083.18 973.40 Other Write-offs 0.00 0.00 0.00 0.00 EBIT 11,411.81 10,351.97 8,154.00 8,508.40 Interest 1,925.42 1,686.27 1,848.19 1,489.50 EBT 9,486.39 8,665.70 6,305.81 7,018.90 Taxes 3,162.63 2,912.44 2,168.50 2,114.87 Profit and Loss for the Year 6,323.76 5,753.26 4,137.31 4,904.03 Non Recurring Items 372.66 1,107.89 909.49 297.71 Other Non Cash Adjustments 0.00 0.00 0.00 0.00 Other Adjustments 0.00 4.54 0.00 0.00 REPORTED PAT 6,696.42 6,865.69 5,046.80 5,201.74 KEY ITEMS Preference Dividend 0.00 0.00 45.88 109.45 Equity Dividend 1,165.46 1,151.06 709.77 1,168.95 Equity Dividend (%) 119.97 119.97 79.98 159.95 Shares in Issue (Lakhs) 9,712.14 9,592.14 8,872.14 7,305.92 EPS Annualised (Rs) 68.95 71.58 56.88 71.20 [The portion highlighted by a black box shows the Profit earned by Tata Steel Limited from 2008 -2012] HOW THE PROFIT AND LOSS ACCOUNT HELPS THE CORPORATE DECISION MAKERS TO SHAPE THEIR DECISIONS? A Profit and Loss account provides a collection of operating data that can be used by corporate decision makers to improve corporate operations. Regular review of this statement can help the entrepreneur to adjust the strategic paths of the company based on the prevailing economic conditions. A Profit and Loss statement also helps outside investors to measure a firms economic viability in the long run. Also; Analyzing a statement of profit and loss gives corporate leaders the tools necessary to measure competitors progress in the market, hence improve their market share. The Profit and Loss account gives a clear view of all the expenses and incomes of the firm, hence a regular analysis of these statements help firms cut down their expenses. Creating a forum through which business unit leaders discuss and help top leaders set performing segments apart from activities that generate less than mediocre revenue. By reviewing the firms revenues and expenses, management can decide which segment to sell. A profit-and-loss report indicates to the rest of the world the corporate segments that are thriving, emphasizing products that positively affect the corporate bottom line.