Capital Budget Assignment Example | Topics and Well Written Essays - 750 words

Capital Budget - Assignment Example The trucks will also ensure that we can handle all requests for garbage collection. It will eventually lead to a conducive, clean environment in River County. River County residents have echoed out their views of having better roads in the county. River County needs all weather roads constructed all over because of the varying weather condition experienced in the area. As of (Finkler, 2013, p. 32) good governance involves better infrastructure. I have budgeted $240,000 for the purchase of two bulldozers. The expected lifetime for the bulldozers is eight year. The bulldozers will make road and other construction projects in the next eight years simpler. A better the infrastructure will bring development in River County. The two bulldozers may also be used in the building of government projects in the County. River County houses three international stadiums. It is the county’s responsibility to keep the stadiums in excellent conditions. The government offices located in the area also require to be well maintaining. It is because of these factors that I included two lawn mowers in my budget. The two go for a combined total of $48,000. The expected lifetime of the lawnmowers is five years. $48000 will be the ideal spending if the two can service the county for five years. Properly maintained stadiums will encourage the sports sector in the county. If the sports sector is improved, a lot of people will turn up in the stadiums and pay for the service through the purchase of tickets. Properly maintained government compounds will keep the environment clean (Finkler, 2013, p. 32). A lot of the people living in River County are self-employed. The residents would love a centre set up that would offer the grounds for growing their businesses. Centralization of all the counties enterprises and activities would be a significant step towards the growth of the county. The business centre would also bring in some good relationship among the residents of

Product Life Cycle Essay Example for Free

Product Life Cycle Essay â€Å"Products, like humans, no matter how successful, are mortals† (adopted from Batory, 2008). This interesting quote shows the fact that a product does have a lifespan in the marketplace. That’s why managers and marketers should understand the life cycle concept in order to effectively manage their products in each different stage. This essay aims at giving an idea about the Product Life Cycle (PLC) concept. It begins with defining the concept. Then, it gives an idea about the four different stages of the product life cycle (introduction- growth- maturity- decline) with example product in each stage. First of all, to understand the concept of ‘Product Life Cycle’ (PLC), it is better to start by defining the concept. According to Merriam Webster (2008), a product ‘life cycle’ term is defined as â€Å"a series of stages through which a product passes during its lifetime†. These four stages â€Å"begin with the introduction of the product to the market and end with the decline of this product or even the withdrawal of this product from the market† (Thompson, 2001). The life cycle of a product –generally- is divided into four main stages, (1) introduction, (2) growth, (3) maturity, and (4) decline. Obviously, the logic or analysis in this life cycle is based on the change or performance of sales, revenues or profitability of this product in the market. The â€Å"duration of products or brands could be few months or even centuries, such as gasoline powered automobile† (NetMBA, 2007). Now, to realize the importance of this concept, it is important to know what this concept exactly means for business managers or marketers. According to Kotler and Keller (2006), this life cycle shows that â€Å"products have main things in common, (1) a limited lifespan; (2) changes in sales/revenues/profits depending on each stage with different characteristics, challenges, and opportunities; and (3) the need to use different strategies (financial, human resources, manufacturing, marketing, and purchasing) in each stage†. (Cited in Papares4You, 2007) As a result, these different stages of the product life cycle could be used to effectively manage the product by using the appropriate strategies or even making any required changes in the marketing mix. The first stage is the introduction stage which begins after the product development, when the product is introduced to the market. The most important thing is to create ‘demand’ for this new product by creating ‘customer awareness’ of it. It is natural in this stage to have low growth in the sales (or profitability) of this product. That’s why promotion in the introduction stage should be intensive to create ‘customer awareness’. Companies should have a long-term marketing strategy for the product in this stage. For example, it is not important during this stage to have high revenues or profits; the company could adjust the pricing policy based on this long-term strategy and introduce the product at a low price to attract customers and make it easy for them take the purchasing decision. There are many examples for products in this stage such as iphones, virtual reality, digital cameras, mini computers, DVD, video phones. Some of these examples will remain in this stage longer than the others due to high prices such as video phones, and others won’t remain for too long –may be 5 or 10 years- such as digital cameras, mini computers, DVD, iphones due to the increasing awareness of the product along with the increasing demand from consumers. The second stage is the growth stage; when the product becomes available and sales begin to rapidly increase till the market approaches saturation. Competitors start to enter the market in this stage. Companies could succeed in this stage by –for example- â€Å"adding new product features or improve its quality and managing customer relationship†. (Papares4You, 2007) There are many examples for products in this stage such as CD player, personal or home computing, the internet and mobile or cellular phones. The sales of these products are growing faster and faster. However, a product such as CD player may be replaced by other products. But, the internet and personal computing are about to enter the maturity stage may be five or ten years. The third stage is the maturity stage; and this is when the market is saturated with this product. However, it is not necessary that the product reaches this stage. Sales in this stage continue to grow till their peaks but with a low growth rate. There are â€Å"some product categories which remain in this stage for decades or centuries such as automobiles, cigarettes, and refrigerators; sales for these categories may remain at their peak for decades† (Thompson, 2001). There are many examples for products in this stage such as automobiles, toothpaste (such as Crest and Colgate), Coca-Cola and Pepsi, batteries (such as Duracell). Batteries’ technologies are changing that’s why a product like traditional batteries will stay – may be for 20 years for maximum- until new batteries enters the market. There are some strategies such as intelligent branding, entering new markets, and adding significant changes to the product could make the product stay longer in this stage. The fourth stage is the decline stage; when the product withdraws from the market due to deterioration in sales and profits. The decline in sales could be due to â€Å"(1) technological developments, (2) changes in consumer behaviour, or (3) significant increases in competition† (Kotler and Armstrong, 2004 cited in Papares4You, 2007) There are many examples for products in this stage such as vinyl records, black and white T. V. , the yo-yo, the hula-hoop, the pet rock Now, after having an idea about the four stages of product life cycle, it is important to realize that the product could repeat this cycle over as the case in fashion for example. And the duration of the product in each stage isn’t fixed because there are products that stays for too long in the introduction stage (such as video phones- microwave ovens- automatic dishwashers) or in the maturity stage (such as refrigerator- T. V. Coca-Cola). Also, the product needs different strategies in each stage. For example, to use intensive promotion’ in the ‘introduction stage’ to create ‘customer awareness’ or to introduce products with low prices to increase customers; and to add more features to the product or decrease prices in the ‘growth stage’ to enter new markets and to still competitive. Finally, any product could be affected by many factors –mentioned previously- in its life cycle such as â€Å"(1) technological developments, (2) changes in consumer behavior, or (3) significant increases in competition† (Kotler and Armstrong, 2004 cited in Papares4You, 2007). That’s why business managers and marketers should continuously study the external environment along with the product life cycle to be able to effectively manage their products and in the marketplace.

Impact of Economy on Low Income Communities

Impact of Economy on Low Income Communities 1. Introduction This assignment is about increasing inequality and its impact on low income communities. Measurement of the distribution of income that between individuals or households, making most of the income in a given country and those making very little. I will give out the real example and real cases refer to the Malaysia. Answer the entire assignment question. Question 1 1.1 Opinion According to the scenario income inequality increasing in US due to the various variations particularly the high impact of technology involvement in different sectors. The sudden technological development brings the big gap between high income communities and low income communities. According to the census reports income inequality is decreased during 1947 to 1968 by7 .5%. Whereas during 1969 to 1009 the trend is different so this is the big trend due to the technology growth in various sectors (Bligh, Philip, 2004) On this aspect organizations are looking high knowledge and high skill people and providing high income so the educated with high skill are achieving high income. So that the organization growth also increasing. To avoid the above situations the organization authorities as well as governments introduce schemes, policies to reduce the gap between high income community and low income community (Gentle, Michael, 2011) So the government must provide proper educational support, trainings to motivate the low income communities to reach better position. The other opinion the government also implements schemes to provide household items to satisfy the low income communities so that it will reduce the differences from high income communities (Wilkinson, Harry, 2010) 1.2 Real Causes Labor market situation is one of the cause because products producing with high technology so that organizations provided high wages opportunities. This technological change trend is due to global competition affect so there is a big variation in wage systems in Malaysia (Peel, Jeffrey, 2008) The second cause is due to the social issues impacted towards income inequality influenced low income communities. The Malaysia social issues also influence organization developments and growth so that the organization authorities emphasize on technological change to produce products according to the international standards. The income inequality along with social causes translates life styles of individuals in low income communities at Malaysia is a big impact because the low income communities not affordable the household things as per living system (Stephen, Robbins Neil Barnwell, 2006) The third cause is due to the race issue, wealth, identity and location influencing the income inequality impacts on low income communities Malaysia. The race discrimination impact is more so that there is a big gap between high income communities and low income communities at Malaysia. The income inequality with its economic variations due to gender is the major cost (David, 2009) 1.3 Real examples Figure 1 shows the Malaysia income inequality stands at 46.21%, this indicates the income inequality is an issue because of race issue. Malaysia is strong in tourism and manufacturing sectors but still due the race discrimination influencing the income inequality so it’s a big impact on low income communities (Bligh, Philip, 2004) Figure 1: Malaysia inequality Source: www.economic Planning.pdf Figure 2 sows the income inequality due to different race situations at its effects. The income inequality is also creating the social balance in Malaysia. This is also affecting the economic condition in Malaysia (Wilkinson, Harry, 2010) Figure 2: Coefficient of Malaysia Source: www.economic Planning.pdf The Malaysia income inequality towards low income community must solve because to controls the social impacts labor market issues and low income community wealth point of view so the government authorities to take action with proper budget allocate to provide education, training to low income community. So it is understands that the gap must be solve because to reduce social problems among low income communities. It also helps the low income community wealth and health of living styles and environment. Muziliza, (2012) Malaysia putrajaya must stop being in denial about wealth inequality and realise that hardship and poverty are also fuelling corruption, said the Sultan of Perak, Sultan Nazrin Shah, he said the low earnings of a vast majority of households and noted that those struggling to make ends meet were exposed to petty corruption. Farhana R (2013)Coloured discourse on inequality in Malaysia, It was quite a clever title putting the right undertone to a heavily coloured discourse on inequality in Malaysia. Imbalances and inequality that have resulted in the past, persisted over time, or even taken different shapes and sizes, is very much felt on the ground, even if we don’t know enough to call it inequality the same way inequality is studied by academics and policy makers across the globe. Question 2 2.1 Community Organizers Importance The community organizers role is important to understand (Wilkinson, Harry, 2010) growing issues. Because the organizers must be supports to the governments to organize a schemes, programs and other method to supports the low income community groups. (Stephen, Robbins Neil Barnwell, 2006) The organizers collect the proper information from the industrial authorities to encourage the low income communities towards improving skills and knowledge so that the low income group differences will be reduced form high income groups communities. (Bligh, Philip, 2004) Community organizers also change the environment by understanding individually, group so that it brings big changes with support of government policies and regulations. So the major requirement is education as a prime development for low income group (Peel, Jeffrey, 2008) Question 3 3.1 To know about the impact of these changes? As per the scenario the community organizers identify the issue clearly develop proper plan to solve the impact on the changes. Even though the manufacturer provided proper resource to retailing the workforce but the wage impact is an issue so the agencies as well as organizational authorities must be implement to support work force in terms of cost of living by providing subsidy system.(Wilkinson, Harry, 2010) The manufacture authorities are the responsible to support workforce wage imbalance for living style so that must provide proper discount price products for workforce. In addition to that encourage the workforce to increase production by issuing incentives (Gentle, Michael, 2011) 3.2 what is being done to address? Address towards community organizers are also responsible to identify the issues as method above impacts on low income communities such as gender discrimination. The gender discrimination also brings a big wage gap between the groups. So the community organizers identify the issues to organize tops with government authorities, organization authorities to simplify the issues. Community organizer also identify the current situation in U.S on the gap to solve by proper organization authorizes implementing support systems through organizing a special trainings to improve towards technological skills so that it will helps to the low income community groups. 3.3 Who would you talk? U.S government are the major responsible to raise of income inequality, so the authorities must identify the strategy of income distribution, identify the labor mobility, identify the technology change like skills based approach identify the high income group inequalities and inequality geographically as shown in Figure 3. Figure 3: Inequality status globally Source:http://www. http://www.businessinsider.com/why-income-inequality The governments are the responsible to measure the differences at various levels in income distribution and its weakness for example gender differences in inequalities is affected towards women community. So the governments are the responsible to argue with organization on minimum wage affects towards women services at different levels. 4. Conclusion In this assignment conclusion community organizer approach must understands that the income inequality impacts low income community is due to various factors such as political , economic, technological , social and ethical issues, so the community organizers request authorities are to identify the issues such as technological must support to the low income community to bring up better position in wealth. 5. References Foss, M Bryan, M (2012), International Global Services, London; Milford, CT: Kogan Page,pp12-325. Gentle, K Michael, G (2011), Globalization Behavior Principles handbook: building realistic expectations and managing Risk. London: Kogan Page, pp45-121. David, C (2009), Introduction Global Environment Boston, MA: Springer, pp9-126. BusinessDictionary.com, (2014). What is income inequality? definition and meaning. [online] Available at: http://www.businessdictionary.com/definition/income-inequality.html [Accessed 6 Oct. 2014]. Stephen P Robbins and Neil Barnwell, R (2006), Global Environment Theory, Australia: Pearson Education, pp12-276 Bligh, B Philip. U (2004), Global Environment Policies, Hoboken, N.J.: Wiley, pp23-62. Muziliza, (2012) Malaysia putrajaya must stop being in denial about wealth inequality and realise that hardship and poverty are also fuelling corruption, from: http://www.themalaysianinsider.com/malaysia/article. Farhana R (2013). Coloured discourse on inequality in Malaysia, It was quite a clever title putting the right undertone to a heavily coloured (racial) discourse on inequality in Malaysia. From http://www.themalaysianinsider.com/books/article/coloured-discourse-on-inequality-in-malaysia

We All Scream For Ice Cream Essay -- essays research papers fc

We All Scream For Ice Cream Who in their right mind could say no to the irresistible taste of ice cream? Being one of my most favorite snacks, I will admit that a carton of ice cream never stays in the fridge for more than a week. I can remember always having ice cream as a very special treat when I was younger, mostly chocolate and vanilla. Nowadays there are so many flavors of ice cream from simple chocolate to cola flavored. Ice cream may not be as popular as you think it is so here are some fun facts the show just how much us American’s love this simple dessert. Currently, ice cream is America’s second most favorite dessert according to a 1997 Nielsen survey. About 2.3 billion dollars of ice cream is sold in the America’s per year. Its competition, the cookie, holds 3.6 billion dollars in sales per year. The United States is currently the number one country in the world for consumption of ice cream. Its followers are New Zealand, Denmark, and Sweden, to name a few. I consume a large amount of ice cream, but to discover that each American consumes about 23.2 quarts of ice cream a year I was shocked! Keep in mind this is just an average because in the Northern Central States they consume over 41.7 quarts a year. For myself ice cream is best enjoyed a sunny day when you just cannot seem to escape the heat, this is why ice cream sales are the highest in the months July (National Ice Cre am Month) and August. I do not want any of my readers to try to tell me they do no... We All Scream For Ice Cream Essay -- essays research papers fc We All Scream For Ice Cream Who in their right mind could say no to the irresistible taste of ice cream? Being one of my most favorite snacks, I will admit that a carton of ice cream never stays in the fridge for more than a week. I can remember always having ice cream as a very special treat when I was younger, mostly chocolate and vanilla. Nowadays there are so many flavors of ice cream from simple chocolate to cola flavored. Ice cream may not be as popular as you think it is so here are some fun facts the show just how much us American’s love this simple dessert. Currently, ice cream is America’s second most favorite dessert according to a 1997 Nielsen survey. About 2.3 billion dollars of ice cream is sold in the America’s per year. Its competition, the cookie, holds 3.6 billion dollars in sales per year. The United States is currently the number one country in the world for consumption of ice cream. Its followers are New Zealand, Denmark, and Sweden, to name a few. I consume a large amount of ice cream, but to discover that each American consumes about 23.2 quarts of ice cream a year I was shocked! Keep in mind this is just an average because in the Northern Central States they consume over 41.7 quarts a year. For myself ice cream is best enjoyed a sunny day when you just cannot seem to escape the heat, this is why ice cream sales are the highest in the months July (National Ice Cre am Month) and August. I do not want any of my readers to try to tell me they do no...

Philosophical Theories Essay

It can be thought that the very foundation of philosophy lies mainly on the person’s way of thinking influenced by the critical observation of his surroundings and how he stands as an existing entity (Thomas, 1990). In the education sector, the philosophies and theories in learning influence the overall teaching scope from the instructors to the students.   Ã‚  Ã‚  Ã‚   Primarily, the teachers are the main initiators of interaction within the class. He designates the relative importance of education philosophies without even having to emphasize that he is going to use it. Sometimes, even the teacher himself is not really aware that interaction processes with the class already signify philosophical approaches.   Ã‚  Ã‚  Ã‚   One example is Idealism. In this aspect, the teacher becomes the role model for the students who will project a character of having ethical and moral values as accorded by the society (Slater). The class then will have an advantage knowing that they could depend on a specific attribute to apply something â€Å"good† to their lives.   Ã‚  Ã‚  Ã‚   Another philosophy is Realism. In this facet, the teacher is able to signify what is to be found in nature by understanding the very essence of reality (Slater). This teaching scope will let the students become more aware of the natural world without the harm of having biased thoughts according to the teacher’s perception.   Ã‚  Ã‚  Ã‚   One more example of an education philosophy is pragmatism. This aspect also lets the teacher to learn together with the students (Slater). This will bring beneficial interaction by opening a larger avenue for two way communication which will help address the individual learning needs of each student. References Slater, T. N.D. Critique of Various Philosophies and Theories of Education. IJOT-Educational Philosophies http://www.ijot.com/papers/slater_educational_philosophies.pdf Thomas, W. 1990. What is Philosophy? The Atlas Society. Retrieved January 31, 2008 from http://www.objectivistcenter.org/cth–409-FAQ_Philosophy.aspx.

The Ritz-Carlton: A Snapshot

The Ritz-Carlton Hotel Company is a management company that develops and operates luxury hotels for W. B. Johnson Properties, also based in Atlanta. In 1983, W. B. Johnson acquired exclusive U. S. rights to the Ritz-Carlton trademark, a name associated with luxury hotels for 100 years. The Ritz-Carlton Hotel Company operates 23 business and resort hotels in the United States and two hotels in Australia. It also has nine international sales offices and employs 11,500 people. Two subsidiary products, restaurants and banquets, are marketed heavily to local residents.The company claims distinctive facilities and environments, highly personalized services, and exceptional food and beverages. â€Å"Gold Standards† Quality planning begins with President and Chief Operating Officer Horst Schulze and the other 13 senior executives who make up the corporate steering committee. This group, which doubles as the senior quality management team, meets weekly to review the quality of products and services, guest satisfaction, market growth and development, organizational indicators, profits, and competitive status.Each year, executives devote about one-fourth of their time to quality-related matters. The company's business plan demonstrates the value it places on goals for quality products and services. Quality goals draw heavily on consumer requirements derived from extensive research by the travel industry and the company's customer reaction data, focus groups, and surveys. The plan relies upon a management system designed to avoid the variability of service delivery traditionally associated with hotels.Uniform processes are well defined and documented at all levels of the company. Key product and service requirements of the travel consumer have been translated into Ritz-Carlton Gold Standards, which include a credo, motto, three steps of service, and 20 â€Å"Ritz-Carlton Basics. † Each employee is expected to understand and adhere to these standards, which de scribe processes for solving problems guests may have as well as detailed grooming, housekeeping, and safety and efficiency standards.Company studies prove that this emphasis is on the mark, paying dividends to customers and, ultimately, to Ritz-Carlton. The corporate motto is â€Å"ladies and gentlemen serving ladies and gentlemen. † To provide superior service, Ritz-Carlton trains employees with a thorough orientation, followed by on-the-job training, then job certification. Ritz-Carlton values are reinforced continuously by daily â€Å"line ups,† frequent recognition for extraordinary achievement, and a performance appraisal based on expectations explained during the orientation, training, and certification processes.To ensure problems are resolved quickly, workers are required to act at first notice — regardless of the type of problem or customer complaint. All employees are empowered to do whatever it takes to provide â€Å"instant pacification. † No matter what their normal duties are, other employees must assist if aid is requested by a fellow worker who is responding to a guest's complaint or wish. Much of the responsibility for ensuring high-quality guest services and accommodations rests with employees.Surveyed annually to ascertain their levels of satisfaction and understanding of quality standards, workers are keenly aware that excellence in guest services is a top hotel and personal priority. A full 96 percent of all employees surveyed in 1991 singled out this priority — even though the company had added 3,000 new employees in the previous 3 years. Detailed Planning At each level of the company — from corporate leaders to managers and employees in individual work areas — teams are charged with setting objectives and devising action plans, which are reviewed by the corporate steering committee.In addition, each hotel has a â€Å"quality leader,† who serves as a resource and advocate as teams a nd workers develop and implement their quality plans. Teams and other mechanisms cultivate employee commitment. For example, each work area is covered by three teams responsible for setting quality-certification standards for each position, problem solving, and strategic planning. The benefits of detailed planning and the hands-on involvement of executives are evident during the 7 days leading up to the opening of a new hotel.Rather than opening a hotel in phases, as is the practice in the industry, Ritz-Carlton aims to have everything right when the door opens to the first customer. A â€Å"7-day countdown control plan† synchronizes all steps leading to the opening. The company president and other senior leaders personally instruct new employees on the â€Å"Gold Standards† and quality management during a 2-day orientation, and a specially selected start-up team composed of staff from other hotels around the country ensures all work areas, processes, and equipment are ready.Quality Data Daily quality production reports, derived from data submitted from each of the 720 work areas in the hotel system, serve as an early warning system for identifying problems that can impede progress toward meeting quality and customer-satisfaction goals. Coupled with quarterly summaries of guest and meeting planner reactions. the combined data are compared with predetermined customer expectations to improve services.Among the data gathered and tracked over time are guest room preventive maintenance cycles per year, percentage of check-ins with no queuing, time spent to achieve industry-best clean room appearance, and time to service an occupied guest room. From automated building and safety systems to computerized reservation systems, Ritz-Carlton uses advanced technology to full advantage. For example, each employee is trained to note guest likes and dislikes. These data are entered in a computerized guest history profile that provides information on the preferen ces of 240,000 repeat Ritz-Carlton guests, resulting in more personalized service.The aim of these and other customer-focused measures is not simply to meet the expectations of guests but to provide them with a â€Å"memorable visit. † According to surveys conducted for Ritz-Carlton by an independent research firm, 92 to 97 percent of the company's guests leave with that impression. Evidence of the effectiveness of the company's efforts also includes the 121 quality-related awards received in 1991 and industry-best rankings by all three major hotel-rating organizations.