Managing Financial Resources - Kemawors and Evans - Free Essay Example

Sample details Pages: 10 Words: 2896 Downloads: 7 Date added: 2017/06/26 Category Management Essay Type Analytical essay Did you like this example? Managing Financial Resources Executive Summary This paper is a financial report created by Kemaworà ¢Ã¢â€š ¬Ã¢â€ž ¢s and Evans consulting firm for a group of small investors purchasing an existing business (Healthy Cuisine Restaurant). These investors have limited knowledge on how to apply financial principles to business and required assistance. This report will enlighten the investors about the sources of finance available to the business both internal and external. Don’t waste time! Our writers will create an original "Managing Financial Resources Kemawors and Evans" essay for you Create order The implications of the different sources and also will be able to form an idea of appropriate sources of finance for the business project. The report provides a broad knowledge of how to manage financial resources and decisions. A long-term gold was recommended that the company aim for a substantial growth within the next five years. A conclusion was drawn that a company will experience loss or failure without proper financial planning. Introduction / Background Mission Statement; Our mission is to maximize our client business potential hence providing high level of customer satisfaction. We work hard to keep these values at core of operation and retain our competitive edge. Kemaworà ¢Ã¢â€š ¬Ã¢â€ž ¢s and Evans Consultant Firm (KE) is a partnership business that has been around for 15years and still going strong. Over the years we have been loyal to our customers hence we aim to deliver the best services. Our strength and main functions is to analyze existing and start-up businesses, creates solution to problems, and help small businesses with legal aspects. We are a team of trained experience strategic management consultants with years of experience, specializing in implementing well proven management skills. We conduct keen research and effective investigation to detect present problems and to invent solution for current problems with measures in place to prevent future problems to improve the organization. With all the successful stories over the years it make us more aware of the competitive market, the numerous of agreements made daily conducting a business. We understand the challenges facing businesses in todayà ¢Ã¢â€š ¬Ã¢â€ž ¢s competitive climate. With our experience, understanding and business knowledge we are able to assist small business owners with limited management and legal experiences. KE LTD. Was hired by the new owner of Healthy Cuisine Restaurant to deal with the aspects of financial sources. Here we will analyze the dif ferent sources of finance available to the business and explain the importance of finance planning. Healthy Cuisine Restaurant Mission Statement: To ensure that customers received well-prepared nutritional meals using fresh and quality ingredients at a fair price. Providing prompt, professional, friendly and courteous service in a clean, comfortable and well maintained environment to meet customerà ¢Ã¢â€š ¬Ã¢â€ž ¢s expectation and beyond, so that every customer can feel appreciated. Healthy Cuisine was founded in the year 2000. It is a partnership business which employs a head chef, sous chefs, pastry chef, finance manager, hostess and host, servers, supervisor, marketing managers and a human resource manager. Healthy Cuisine is located at #7 Ocean Boulevard, New Kingston, Kingston Jamaica. This restaurant was established with the peoplesà ¢Ã¢â€š ¬Ã¢â€ž ¢ health in consideration. At healthy Cuisine, only heart healthy meals are prepared and served. There are a wide variety of dishes, one cannot be bored. Our dishes are mainly grilled, baked, broiled and steamed. Healthy Cuisines caters to vegetarians, meat eaters, diabetics, dieters basically the entire family. One feature that puts us above our competitors is the services that allow customers to create their own dishes and have it done to their specifications. Organization chart Objectives To identify the sources of finance available to a business. To evaluate appropriate sources of finance for a business project. To evaluate the implications of the different sources. Methodology à ¢Ã¢â€š ¬Ã…“The aim of financial accounting is to provide a recording system which fulfills the requirements of the companies Act à ¢Ã¢â€š ¬Ã‹Å"to keep proper books of accountà ¢Ã¢â€š ¬Ã¢â€ž ¢ in the terminology of the 1844 Act, and to use this information to produce financial reports that are published in accordance with current legislation and standards, for external users.à ¢Ã¢â€š ¬Ã‚  (Mick Broadbent, John Cullen). The researcher wished for this research to be efficiently conducted and ensure that it was carried out in a professional and accurate manner, so that there was little or no inference and tampering. The researcher collected data by the use of qualitative and quantitative methods. With the used of these methods research was better carried out, more options presented itself, data was more accurately collected. The researcher source of collecting data was secondary sources such as books, newspaper articles published at the time and the intern et. The use of secondary data gave a wide and a clearer in sight on the topics with numerous of source to gain information. Primary source of data collection was also used to gain additional information regarding the topic. Data was compiled to explain how financial resources and decisions are managed, as well as to evaluate and understand the implications of finance as a resource within the business. Purpose/Rationale à ¢Ã¢â€š ¬Ã…“A goal is an outcome to be achieved or a destination to reached over a period of time through the exercise of management functions and the expenditure of resources.à ¢Ã¢â€š ¬Ã‚ (Management, Warren R. Plunkett, Gemmy Allen and Raymond Attner 2012). This research seeks to investigate and evaluate existing and start up business, also to select the right strategy and practices to assist and guide the business in making the best financial decision also to explore the sources of finance available to the business and its implications. The inform ation gathered by conducting this research will be used back in the business to make better financial decisions. By gathering all these information and strategizing suitable plans will save both time and money and minimize investment risks. Description A group of small investor hired the firm to study and improve their new business. The new undertaking will include investigation into the potential business to analyze and create solutions to problems and to develop efficient plans for meeting the goals of the clients. Healthy Cuisine must become a profitable and sustainable business ready to meet customer needs and maximize market opportunities. KE Business Consulting Firm aims to protect its clientà ¢Ã¢â€š ¬Ã¢â€ž ¢s business investments. This means that meaningful business research will take place and sustainable strategies developed to match the business and industry. Business Research is critical when entering a competitive market. It enables the company to learn about t he business, its products, its competitors and its customers and how best to satisfy the customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ needs. The business research will investigate the nature, performance and potential of the acquiring company, and inform the investors in selecting and applying new strategies and business models to improve the performance of Healthy Cuisine. Sources of Finance Available to Business à ¢Ã¢â€š ¬Ã…“All new businesses need capital to fund fixed assets such as vehicles, equipment, premises and stock if the business is selling goodsà ¢Ã¢â€š ¬Ã‚ ( Heinemann, 2004 Business for foundation degrees and higher awards). There are different types of business such as sole trader, partnership; public company etc. one thing they all have in common is the need for finance to operate. Therefore each enterprise must be clear on the financing that best suits the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s need. Sources of Finance can be classified as internal and external; Internal fin ancing is related generating and raising funds from within the organization example; Retained earnings this is profit that is injected back in the business instead of paying out as dividends. Sales of assets the exchange of assets for cash or its equivalent. Depreciation provisions External financing is related to the means of obtaining money from outside of the business, for example; Bank Loans This is a form of capital for a business. A bank loan provides short or long-term finance; this attracts interest rate and a set fixed period for repayments and the amount. Overdraft this grant the account holder the privilege to draw more money than the account holds. Government grants This is a financial assistance from the federal government with no expectation of repayment. Leasing This is by which a lessor of a specific asset grants a second party the right to its exclusive possession under specified condition. A lease can be long-term or short term. Hire purchase This gives the buyer privilege to enjoy the use of the asset while paying for it. However the buyer is not in full ownership until full payment is made. Mortgage Issue of shares à ¢Ã¢â€š ¬Ã¢â‚¬Å" Factoring of debts this is a financial arrangement in which business selling its bills receivable to a debt factoring company at a discounted price. The Implications of the different sources According to Rob Jennings, Demand Media, à ¢Ã¢â€š ¬Ã…“choosing the right source of financing for your unique situation can be challenging. While you can ideally choose from several options, each source of financing comes with its own set of advantages and drawbacksà ¢Ã¢â€š ¬Ã‚ . There are both negative and positive implications of the sources of finance; Bank Overdraft: the advantage of bank overdraft is that no collaterals or security needed. Ità ¢Ã¢â€š ¬Ã¢â€ž ¢s more flexible and the overdraft amount can be adjusted every month according to needs. On the flipped side, interest rates are usually variable and higher than bank loans and the bank can ask to be repaid at short notice which can cause cash flow problems. Loan: According to Jim Riley 2012, à ¢Ã¢â€š ¬Ã…“A bank loan is an amount of money borrowed for a set period within an agreed repayment schedule. The repayment amount will depend on the size and duration of the loan and the rate of interest.à ¢Ã¢â€š ¬Ã‚  He continue to expressed the advantages of a bank loan for a growing business: The business is guaranteed the money for a certain period. Loans can be matched to the lifetime of the equipment or other assets the loan is for. While interest must be paid on the loan, there is no need to provide the bank with a share in the business. Interest rates may be fixed for the term, making it easier to forecast payments. à ¢Ã¢â€š ¬Ã‚ The main disadvantage of a bank loan is the security that usually has to be given to the bank assets of the business. The bank becomes a secured creditor with collateral over the business assets, also lack of flexibility.à ¢Ã¢â€š ¬Ã‚  Expressed by Jim Riley. Government grants: à ¢Ã¢â€š ¬Ã…“A grant is an amount of money given to an individual or business for a specific project or purpose.à ¢Ã¢â€š ¬Ã‚  Even though a grant is a none repayable fund there are a lot of competition and they are almost always awarded for a specific purpose or project. Advantages include: Grant do not attract interest nor the need to pay it back Business owners wonà ¢Ã¢â€š ¬Ã¢â€ž ¢t lose control over the business Disadvantages include: Sourcing that grant to suits your specific project can be challenging Thereà ¢Ã¢â€š ¬Ã¢â€ž ¢s a lot of competition for grants. Grant awarded only cover part of the cost of the project. Application process can be time-consuming Grants are only awarded for proposed projects, not ones that already started Overdrafts: à ¢Ã¢â€š ¬Ã…“An overdraft is a credit facility you agree with your bank. It allows you to temporarily spend more than you have in your account to cover short term financing needs.à ¢Ã¢â€š ¬Ã‚  Advantages include: Ità ¢Ã¢â€š ¬Ã¢â€ž ¢s flexible- Ità ¢Ã¢â€š ¬Ã¢â€ž ¢s cheaper than a loan since the business/individual only need to borrow what is needed at the time. Less time to arrange Disadvantages include: Extended periods required will attract a charge. You can only obtain an overdraft from the bank that hold your business current account. The bank can request the money back at any time. Leasing: à ¢Ã¢â€š ¬Ã…“Leasing an asset/s eg machinery or office equipment can save the initial cost of buying outright.à ¢Ã¢â€š ¬Ã‚  Advantages include: The business can have access to high standard equipment that it might not have been able to afford otherwise. There are usually fixed rates on monthly instalments. The leasing company carries the risks if the equipment breaks down. Ità ¢Ã¢â€š ¬Ã¢â€ž ¢s less risky compare to a secured bank loan, for example you wonà ¢Ã¢â€š ¬Ã¢â€ž ¢t lose your assets if one canà ¢Ã¢â€š ¬Ã¢â€ž ¢t make payments. Disadvantages include: A deposit or some payments may be required in advance It can be more expensive than buying the asset outright Difficultly may arise to cancel some long-term contracts early. Factoring debts: According to Dr Gurusamy (2009). à ¢Ã¢â€š ¬Ã…“Factoring, as an innovative service, commands the following advantages:à ¢Ã¢â€š ¬Ã‚  Advantages include: à ¢Ã¢â€š ¬Ã…“Cost savings Factoring allows for the elimination of trade discounts. Besides, it also helps in reduction of administrative cost and burden, facilitating cost savings.à ¢Ã¢â€š ¬Ã‚  Leverage helps improve the scope of operating leverage à ¢Ã¢â€š ¬Ã…“Liquidity factoring enhances liquidity of the firm by ensuring efficient working capital management.à ¢Ã¢â€š ¬Ã‚  à ¢Ã¢â€š ¬Ã…“Enhance return factoring is considered attractive to users as ità ¢Ã¢â€š ¬Ã‚  helps enhance return. à ¢Ã¢â€š ¬Ã…“Cash flows- Accelerated cash flows help the client meet liabilities promptly, as and when they arise.à ¢Ã¢â€š ¬Ã‚  Disadvantages include: à ¢Ã¢â€š ¬Ã…“Cost both factoring and discounting services come at a price, and the combination of financing charges, commissions and fees can make it an expensive source of finance. The prepayment financing for instance is typically charged at a few percentage points above bank overdraft rates. à ¢Ã¢â€š ¬Ã…“Risk factoring and invoice discounting companies will only finance those debts which they regard as recoverable, in other words the good quality accounts. The company is usually left to manage poor credit risk accounts. Business circumstances can change and charges can increase.à ¢Ã¢â€š ¬Ã‚  (Jim McMenamin, 2002 Financial Management). Retained earnings: according to (Charles Gibson 2010, Financial Reporting and Analysis) à ¢Ã¢â€š ¬Ã…“Retained earnings, an account on the balance sheet, represents the undistributed earnings of the corporation. A reconciliation of retained earnings summarizes the changes in retained earnings.à ¢Ã¢â€š ¬Ã‚  Advantages of retained earnings: Ready Availability Cheaper than external Equity No Ownership Dilution Positive Connotation Disadvantages include: Limited Finance High Opportunity Cost Evaluate Appropriate Sources of Finance for a Business Project. à ¢Ã¢â€š ¬Ã…“Funds for financing a business come in many forms and guises. A sensible way to differentiate between such sources is by the length of time such funds are available and the terms and conditions for repayment if relevant.à ¢Ã¢â€š ¬Ã‚ (Rob Dransfield et al. 2004). For the operation, expansion, elevation, development and the starting up of any business finance is crucial. Healthy Cuisine being a startup business will have to manage finances wisely, it is also crucial for the business to choose the most appropriate source of finance for the business project. Sources of finance can be classified based on a number of factors eg, the size and type of organization. Sources of finance according to period can be classified as long-term, short-term and medium term. Short-term Medium term Long- term Bank Financing Issue of debenture Equity financing Factoring Issue of preference shares Preference shares Credit cards Bank loans Debt financing Bill financing Hire purchase Venture capital financing Installment credit Lease financing Internal financing Customer advances Public According to Jim Riley, à ¢Ã¢â€š ¬Ã…“A good entrepreneur will judge whether the finance needed is for a long-term project or short term and therefore decide what type of finance they wish to use.à ¢Ã¢â€š ¬Ã‚  Short-term loans are less risky for lenders since its only needed for a short period. The main types of short-term finance are: Overdraft Suppliers credit Working capital The main types of long-term finance that are available for to a business are: Mortgages Bank loans Shares issue Hire purchase Debentures Retained profits Recommendation KE limited would recommend that Healthy Cuisine Restaurant read and analyze this report, in order to take the most appropriate measures to put suggestion in place. It is recommended that the company try to use the cheapest options available which are Personal savings, Retained profits, working capital and trading profits. The business should try as best as possible to avoid external loans that attracts a lot of interest example bank loan, and the risk of losing assets for short-term project. The advantages and disadvantages of different sources of finance must properly be scrutinized to ensure suitability for its purpose. The company must appoint a qualified, trustworthy and competent finance controller that will not only make a budget but adhere to it. Conclusion Sources of finance is deem very important in the operation of the business. The type of finance chosen dep ends on the nature of the business and its gold. Large organizations are exposed to wider variety of finance sources than a smaller organization. Both internal and external financial sources have advantages and disadvantages. Lenders want to be aware of the business opportunities and risks and therefore would want to provide a secured loan. Without proper financial planning a company could become bankrupt and suffer severe lost. If the investor of Healthy Cuisine Restaurant understand and implement the strategies and suggestions made the business will become a successful business. Reference Mick Broadbent, John Cullen (May 4,) Managing Financial Resource. Rob Dransfield. Eddie Fox. Philip Guy et al., 2004 Business for foundation degrees and higher awards. https://www.dineshbakshi.com/igcse-gcse-economics/private-firm-as-producer-and-employer/revision-notes/1296-external-sources-of-finance https://www.tutor2u.net/busine ss/finance/bank_loans.html https://www.gov.uk/business-finance-explained/leasing-and-asset-finance https://www.slideshare.net/anchalkesari/sources-of-finance-13947839 Dr. Gurusamy (2009) Merchant Banking and finance service 3E Jim McMenamin (2002) Financial Management Charles Gibson, (April 6, 2010) Financial Reporting and Analysis. Sudhindra Bhat (2008) Financial Management (2nd ed.) https://businesscasestudies.co.uk/business-theory/finance/sources-of-finance.html#axzz3S25APZUD https://www.scribd.com/doc/27126810/Sources-of-Finance#scribd

The Effect Of Diet And Exercise On Obese Women - 923 Words

Factors Proper nutrition is a key factor when it comes to regulating body weight. If an individual is meeting their caloric recommendations of intake, then weight gain rarely occurs. Weight gain occurs when individuals exceed their caloric recommendations (energy in is greater than energy out). Recent research suggests that dietary restrictions in addition to exercise promotes more weight loss than dieting alone or exercising alone (12). A study by Foster-Schubert, and et. al., which focused on the effect of diet and exercise in overweight to obese postmenopausal women, showed results that support the statement that diet and exercise leads to greater weight loss when combined. The results of the study showed that the dieting alone group†¦show more content†¦Aerobic training has higher oxygen consumption (VO2), oxidizes more lipids (when compared to strength training), and utilizes carbohydrates as fuel energy. In more recent studies, it is suggested that strength training (ST) play s a significant role in regulating body weight once weight loss has occurred (4). It is also suggested that ST results in unique effects that aerobic exercise alone cannot achieve (4). Viewing ST alone and how it affects weight loss, it is concluded that weight loss occurs due to muscle hypertrophy. During ST, resting metabolic rate increases due to the increase in muscle mass, this in turn increases the total daily energy expenditure. When an individual is trying to lose weight through means of exercises, ST can complement aerobic training and aid in more efficient weight loss. For each type of exercise, it can then be broken down into intensity and duration. Exercise intensity is the measure of how hard the body has to work during exercise. There are three levels to intensity: low, moderate, and high. If an individual is new to exercise they would start at low intensity and progress from there. The prescription of higher physical activity goals does improve the individual’s outcome. In a study performed by Jeffery, Wing, Sherwood, and Tate, the results of high intensity exercise were correlated with weight loss (10). It is important to point out that the subjects of this trial did not start out at a high

PSB Academy †Diploma in Business Administration Free Essays

string(29) " single brand over the time\." PSB Academy – Diploma in Business Administration (Marketing) SAMSUNG GALAXY NOTE II Teams: Eunice Fang Zi Xin Jesslyn Lim Hui Ting Tony Tan Xiang Cheng Yvonne Lee Shan Shan Table of Contents 1. Introduction 1a. Brief of Samsung Company Profile 1b. We will write a custom essay sample on PSB Academy – Diploma in Business Administration or any similar topic only for you Order Now Information of Samsung Product 1c. Detail Specification of the Product 2. Marketing Objectives 3. Analysis 3a. Marketing Research Analysis 3b. Macro-environmental Analysis 3c. Market Segmentation, Targeting and Positioning Analysis 3d. SWOT Analysis 4. Marketing Mix Strategies (4P) 4a. Product 4b. Price 4c. Promotion 4d. Place 5. Implementation plan 6. Reference 7. Conclusion . Introduction 1aBrief of Samsung Company Profile Samsung the digital age that brought revolutionary change the world to the global business, Samsung has responded with the advanced Technologies, Competitive Creative Products Constant Innovation. At Samsung, we seen every challenger as an opportunities and believe as we are perfectly positioned as one of the world’s well recognized leaders in the digital technology industry. Our commitment to being the world’s best has won us the No. 1 global market share for 13 of our products, including semiconductors, TFT-LCDs, monitors and CDMA mobile phones . Looking forward, we’re making historic advances in (R;D) research and development of our overall semiconductor line, including flash memory and non-memory, custom semiconductors, DRAM and SRAM, as well as producing best-in-class LCDs, mobile phones, digital appliances, and more. 1bInformation of Samsung Product The Samsung Galaxy Note II is easily among the most powerful handsets in the US market at the moment. The presence of Android 4. 1 Jelly Bean on board makes the device part of a really privileged club of gadgets, booting the latest version of the Google mobile OS. The S Pen has also made quantum leaps compared to its predecessor. Speaking of specs: The new  Galaxy Note II is powered by a 1. 6GHz quad-core Exynos processor and runs Android 4. 1 Jelly Bean. The device will support either HSPA Plus or LTE connectivity. Buyers can choose between 16GB, 32 GB and 64 GB of storage and it has an 8-megapixel rear camera and a 1. 9-megapixel front-facing camera. Samsung is boasting that the Note II’s HD Super AMOLED screen  offers a â€Å"perfect viewing experience†. That’s a bold claim, and I’ll have to see it to believe it. The company has also redesigned the S Pen to be longer and thicker. cDetail Specification of Samsung Galaxy Note II NetworkS Pen Optimized Features . 3G: HSPA+21Mbps. S Note, S Planner, Email with hand-writing integration (HSDPA 21Mbps/ HUUPA 5. 76Mbps). S Pen Keeper . 4G LTE: 100/Mbps/ 50Mbps. Quick Command, Easy Clip, Photo Note, Paper Artist . Best Photo, Best Face, Low light shot Processor . 1. 6 Ghz Quad-Core Processor Operating System . Android 4. 1 (Jelly Bean) 1 Step tasking/ multitasking features . Air View . Popup Note, Popup Video . Page Buddy/ Tag Buddy/ Word Buddy Display . 140. 9mm (5. 5†) HD Super AMOLED (1,280 x 720) Dimension . 80. 5mm x 151. 1mm x 9. mm, 180g . Connectivity/ Sharing Features . Bluetooth ® V4. 0 (Apt-X Codec support) LE . USB 2. 0 Host . WiFi 802. 11 a/b/g/n (2. 4 ; 5 GHz), Wi-Fi HT40 . Wi-Fi Direct . NFC . S Bean . Samsung AllShare Play ; Control . Samsung AllShare Cast (WiFi Display) – Mirroring ; Extension . Samsung AllShare Framework Other . Samsung TouchWiz / Samsung L! ve Panel . Samsung Kies /Samsung Kies Air . Samsung ChatOn mobile communication service . Smart Stay, Direct claa, Screen Recorder, Quick Glance . Samsung ChatOn mobile communication service . Samsung S Suggest Battery . Standard battery, Li-on 3,100mAh Memory . 16/ 32/ 64GB User memory + 2GB (RAM) . microSD slot (up to 64GB) Camera . Main (Rear): 8 Megapixel Auto Focus Camera with LED Flash, BSI . Sub (Front): 1. 9 Megapixel VT Camera, BSI . Best Photo, Best Face, Low light shot Video . Codec: MPEG4, H. 263, H. 264, VC-1, DivX, WMV7, WMV8, WMV9, VP8 . Format: 3GP(MP4), WMV(ASF), AVI, FLV, MKV, WebM . Full HD(1080p) Playback ; Recording Audio . Codec: MP3, OGG, WMA, AAC, ACC+, eAAC+, AMR(NB,WB), MIDI, WAV, AC-3, Flac . Music Player with SoundAlive . 3. 5mm Ear Jack Sensor . Accelerometer, RGB Light, Digital Compass, Proximity, Gyro, Barometer GPS . A-GPS . Glonass Enterprise Solutions . On Device Encryption (H/W) . Microsoft Exchange ActiveSync . VPN(F5, Cisco, Juniper) . MDM(Sybase Afaria, MobileIron, SOTI, Good) . CCX . VMware MVP 2. Marketing Objectives Samsung Electronics Co. Ltd is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies. As the Samsung Galaxy Note II is a product targeted to the growing smartphone market in Singapore, its marketing objectives for yearly product life cycle Putting the right product in the right place, at the right price, at the right time. It’s simple! We just need to create a product that a particularly group of people want, put it on sale some place that those same people visit regularly, and price it at a level which matches the value they feel they get out of it; and do all that at a time they want to buy. There’s a lot of truth in this idea. However, a lot of hard work needs to go into finding out what customers want, and identifying where they do their shopping. Then we need to figure out how to produce the item at a price that represents value to them, and get it all to come together at the critical time. Smartphone adoption is increasing at breakneck speed – SingTel has reported in its 2011 Annual Report2 that 60% of new phones sold by them are smartphones. Reflecting this trend, the majority or 88% of Singaporeans in our study owned smartphones. It was interesting to note that while those aged 25-39 years had the highest levels of smartphone ownership at 92%, ownership levels were relatively consistent across age brackets. Those aged 55 and above were not far behind at 83% smartphone ownership. Due to the peers pressure, most people start to follow the smartphone trend. Since the trend now is ongoing for smartphone in the market now. Firstly is to gain awareness of the Samsung galaxy note II through advertising. Secondly meet the consumer needs and satisfy the consumer needs. Thirdly brand loyalty is consistent purchase of a single brand over the time. You read "PSB Academy – Diploma in Business Administration" in category "Essay examples" 3. Analysis 3a. Marketing Research There are five step of marketing research process: 1st Define the problem 2ndDevelop the approach to research the problem 3rdConducting the research and collecting the data 4thAnalysis of the data and drawing conclusions 5thPresenting the data collected and making recommendations We are going to conduct survey and feedbacks through online medium and outdoor survey. The objectives is to extract the data of product satisfaction feedback after user have their hands on this new Samsung Galaxy Note II and to understand their satisfaction, needs and requirements. Through conducting survey we get to understand the consumers’ needs and keep on improving our product to serve our customer better. Types of survey Participants will take around 25 minutes to complete the following: * Product test and demo * Product feedback and questionnaire form Survey Questionnaire 1. What is your gender? 2. What is your age? 3. What is the highest level education you have attended? 4. What is your current occupation? 5. Do you use or own a smartphone as your mobile phone? 6. What brand of smartphone do you use? 7. Excluding voice calls, how often do you use your smartphone in this situation? * Idle time at work or school (during breaks, lunch, boring meetings/ classes, etc) * Riding the bus, train, or in car as passenger * Waiting in line (e. g. Coffee shop, grocery store, for movie to start, picking up kids, etc. ) * In bed when you wake up (Weekend leisure time. Before you get out of bed for work, etc. ) * In bed before you go to sleep * For school/ work related tasks * In the bathroom While exercising (running, cycling at the gym†¦) * While you are driving, waiting for light to turn green (not moving) * While you are driving (wheels moving) 8. Under what other scenarios do you commonly use your smartphone? 9. Multasking, Excluding voice calls, how often do you use your smartphone while simultaneously doing these activities? * Listening to music * Walking * Watching Television * Shopping * Using the toilet * Playing computer games * Playing sports, exercising * While talking on the phone(e. g. Using apps, advanced features) 10. Under what other situations do you use your smartphone and multitask? During class; During homework * Eating meal * Watching tv, walking to class or work, bathroom at the gym 11. How often are you consuming different types of information on your smartphone? * Text messaging (SMS) * Reading e-mail * Watching Movie 12. How do you consume news on a smartphone? 13. What are your preferences for consuming news on your smartphone? * News in the form of text * News in the form of photos * News in the form of video * News in the form of audio 14. What types of news do you typically read, listen to, view, or seek out on your smartphone? * Weather * Breaking news * Sports news Business news * International news 15. Do you prefer to go to individual news sites using your smartphone’s Web browser or use a news-speci fic app? 16. What percentage of a news article do you typically read on your smartphone? 17. How long do you typically spend listening to an audio news story on your smartphone? 18. How much time do you typically spend watching a news video on your smartphone? All data collected will be analyzed and improved accordingly to customer preferences. The data collected are for us to make the product improvement and enhancement. 3b. Macro Environmental Analysis Economic Factors Gross Domestic Product The Gross Domestic Product (GDP) in Singapore contracted 1. 50 percent in the third quarter of 2012 over the previous quarter. Historically, from 2007 until 2012, Singapore GDP Growth Rate averaged 5. 54 Percent reaching an all-time high of 36. 40 Percent in March of 2010 and a record low of -15. 90 Percent in September of 2010. The Gross Domestic Product (GDP) growth rate provides an aggregated measure of changes in value of the goods and services produced by an economy. Singapore along with Hong Kong, South Korea and Taiwan is one of the Four Asian Tigers. Singapore has a highly developed and successful free-market economy. It enjoys a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing service sector. Below is a chart with historical data for Singapore GDP Growth Rate. Inflation Rate The inflation rate in Singapore was recorded at 4. 70 percent in September of 2012. Historically, from 1962 until 2012, Singapore Inflation Rate averaged 2. 82 Percent reaching an all-time high of 34. 00 Percent in March of 1974 and a record low of -3. 0 Percent in September of 1976. Inflation rate refers to a general rise in prices measured against a standard level of purchasing power. The most well-known measures of Inflation are the CPI which measures consumer prices, and the GDP deflator, which measures inflation in the whole of the domestic economy Below is a chart with historical data for Singapore Inflation Rate. Employment Rate Employed Persons in Singapore increased to 3228. 50 Thousand Persons in June of 2011 from 3105. 90 Thousand Persons in June of 2010, according to a report released by the Ministry of Manpower, Singapore. Historically, from 1994 until 2011, Singapore Employed Persons averaged 2347. 22 Thousand Persons reaching an all-time high of 3228. 50 Thousand Persons in June of 2011 and a record low of 1714. 20 Thousand Persons in June of 1994. In Singapore, employed persons are individuals with a minimum required age who work during a certain time for a business. Below is a chart with historical data for Singapore Employed Persons. Consumer Price Index Consumer Price Index (CPI) in Singapore increased to 113. 78 Index Points in August of 2012 from 113. 07 Index Points in July of 2012, according to a report released by the Statistics Singapore. Historically, from 1961 until 2012, Singapore Consumer Price Index (CPI) averaged 65. 98 Index Points reaching an all-time high of 113. 78 Index Points in August of 2012 and a record low of 28. 30 Index Points in May of 1961. In Singapore, the Consumer Price Index or CPI measures changes in the prices paid by consumers for a basket of goods and services. Below is a chart with historical data for Singapore Consumer Price Index (CPI). * Technological Factors With modern technology, communication devices give access to information about almost everything. From Internet, TV and Mobile, it allows one to learn about, searching information and even make purchase online anytime and anywhere in the world. The Internet is a medium with which we can view information from anywhere in the world. Information from the World Wide Web and various other services such as instant chat, email, Facebook and YouTube. As the use of Internet became more popular, there was an increase in the speed of  internet  and also decrease in the cost. It made it simple for all users and the use of  the internet  became very cheap. Most users will have unlimited access to Internet as well. This has made it possible for many people to benefit. Almost every individual uses  the internet  where it is available. * Competitive Factor In the IT industry, several forces such as globalization and new technologies have allowed consumers to have more access to smartphone. As a result, consumers buying behavior is changing and competition is tougher, making Samsung to evolve and meet those demands. In order to maintain its sustainable advantage and growth, Samsung has to be advanced to its competitors in term of technologies, pricing and trends. Competitors like Apple, HTC, Nexus, LG, ASUS, Nokia, Sony ; many more. All these competitors smartphone almost close spec, size to Samsung Galaxy Note II. Next Page is the competitor smartphone general specification: 3c. Market Segmentation, Targeting and Positioning Analysis Being a World Wide brand, it is essential for market segmentation to be realized to enable Samsung to capturelise smaller, targeted markets which can be reached efficiently ; effectively. The consumer  market segmentation  is divided into four major parts: * Geographic Geographic segmentation is the basic identifiable characteristic of same city, states and regions. Being the 9th best global brand in the world, Samsung has over 285 offices in the world. Singapore, being one of the world’s busiest cities with flourishing tourism and significant increase in purchasing power, is definitely one of the Samsung projected regional markets. * Demographic The demographic are basically identifiable characteristics of individual’s people because people with different background generally have different purchase requirements. The demographic may be viewed single or combination. They include following factors: 1. Age 2. Gender 3. Education 4. Mobility. 5. Income. 6. Occupation. 7. Family size. 8. Social size. 9. Family life cycle. * Psychographic The forces which affect the groups or individual in the market are called Psychographic. Consumer may be segmentation factors such as personality, class consciousness and perceived risk. We are able to differentiate people’s spending habits and purchasing power through this segmentation method and thus help to reach out to our goal. The factors are following: 1. Attitudes. 2. Class consciousness. 3. Motivation. 4. Perceived risk. 5. Innovator. 6. Values. 7. Life style. 8. Important of purchase. * Behavioral Segment our markets on the basis of product- related behavior is called behavioral segmentation. Samsung is able to understand what their consumer looking for in a product itself, through survey understand their needs. There are two basis approaches are used. 1. Benefits desired. 2. Usage rate. 3d. SWOT Analysis Strengths| * Smartphone is the latest trend in technologies. * Branding. * All in one function and usage. * R D (Investing on scientific talents). * Innovation (New digital technology). * Customization (New products every year). New allocation of marketing resource. * Widest range of products. | Weakness| * Completing product with Apple, Nokia, Sony, HTC others. * Fast pace technologies environment. * Average prices of products seem to be low quality products. * Insufficient software or talent engineer to create their own software. * Heavily investing into development of newer markets and not focusing on any one of core competencies. | O pportunities| * Advance technology. * Demand in market of the smartphone. * Firmware upgraded in the future. * Planning to make the product category stronger. Generations nowadays tend to have stronger spending power. | Threats| * Low cost competitors in China. * Legal war between Samsung and its competitor Apple. * Technological change all times. * Legislation. * Price wars. | 4. Marketing Mix Strategies 4a. Product Samsung Galaxy Note II offers smartphone shoppers which compare on iPhone on suitability, style, price, quality and design. Main Benefit Samsung Galaxy Note II offers a large screen that given viewer a perfect viewing experience on-the-go, easy tasking in one view, simply amazing expression tools and the power performance at its best. The main benefit offered to consumers is smartphone. Actual Product Samsung, For over 70 years, Samsung has been dedicated to making a better world through diverse businesses that today span advanced technology, semiconductors, skyscraper and plant construction, petrochemicals, fashion, medicine, finance, hotels, and more. Our flagship company, Samsung Electronics, leads the global market in high-tech electronics manufacturing and digital media. Samsung smartphone known for its products, quality and design like Samsung Galaxy S1, 2, 3 or mini version. For those prefer small can chose Samsung Galaxy S3 mini, for those prefer large screen to watch movie etc. can chose Samsung Galaxy Note 2 a smartphone that have enormous battery, expandable memory up to 64gb, amazing screen, LTE capable (4G) Blazingly fast processor. 4b. Price Before choosing a pricing strategy, the pricing policy should consider the costs associate with the products. Fixed costs are things such as rental, salaries and utilities while variable costs includes materials and packaging, will be total up to allow the management to at least cover the total production costs. Cost-Plus Pricing We will need to compound the final price based on the fixed cost and variable cost for development, production, factory, distribution, marketing efforts and all other operation cost involved to ensure that Samsung Galaxy Note II will bring sustainable good revenue and profits. The cost-based pricing approach will be adopted. Below is the illustration: Variable Cost| =| $500| Fixed Cost| =| $1,000,000| Expected Unit Sales| =| 100,000 for 1 year| Samsung Galaxy Note II per unit is given as below: Unit Cost| =| Variable Cost| +| Fixed costunit sales| | =| $500| +| $1,000,000100,000| =| $510| | | Samsung Galaxy Note II wants to earn a 45% mark-up on sale. The mark-up price will be shown below: Markup Price| =| Unit Cost(1-Desired Returned on Sales)| | =| $5101-0. 45| Selling Price| =| $927. 27| Profit per unit| =| Selling Price| -| Unit Price| | =| $927. 27| -| $510| | =| $417. 27| | | Projected Total Revenue for 1 Year: Sales Quantity for 1 Year| Selling Price| Total R evenue| 100,000| $927. 27| $92,727,000| Projected Total Profits for 1 Year: Expected Units sold for 1 Year| Profit Margin per unit| Total Profits| 100,000| $417. 27| $41,727,000| Break Even Analysis: Break Even Volume| =| Fixed CostsPrice-Variable Cost| | =| $1,000,000$927. 27-$500| | =| 2,341 units| 4c. Promotion Promotions are one of the four elements of marketing mix. Four main tools of promotion are advertising, sales promotion, public relation and direct marketing. * Advertising Advertising is defined as any form of paid communication or promotion for product, service and idea. Advertisement is not only used by companies but in many cases by museum, government and charitable organizations. However, the treatment meted out to advertisement defers from an organization to an organization. Advertising development involves a decision across five Ms Mission, Money, Message, Media and Measurement. Mission looks at setting objectives for advertising. The objectives could be to inform, persuade, remind or reinforce. Objective has to follow the marketing strategy set by the company. Money or budget decision for advertising should look at stage of product life cycle, market share and consumer base, competition, advertising frequency and product substitutability. Message’s development further is divided into four steps, message generation, message evaluation and selection, message execution, and social responsibility review. Once the message is decided the next step is finalizing the media for delivering the message. The choice of depends on reach of media, frequency of transmission and potential impact on customer. Based on this choice of media types are made from newspaper, television, direct mail, radio, magazine and the internet. After which timing of broadcast of the message is essential as to grab attention of the target audience. Checking on the effectiveness of communication is essential to company’s strategy. There are two types of research communication effect research and sales effect research. * Sales Promotion Promotion is an incentive tool used to drive up short term sales. Promotion can be launched directed at consumer or trade. The focus of advertising to create reason for purchase the focus of promotion is to create an incentive to buy. Consumer incentives could be samples, coupons, free trial and demonstration. Trade incentive could be price off, free goods and allowances. Sales force incentive could be convention, trade shows, competition among sales people. Sales promotion activity can have many objectives, for example, to grab attention of new customer, reward the existing customer, and increase consumption of occasional users. Sales promotion is usually targeted at the fence sitters and brand switchers. Sales promotional activity for the product is selected looking at the overall marketing objective of the company. The final selection of the consumer promotional tools needs to consider target audience, budget, competitive response and each tool’s purpose. Sales promotion activity should under-go pretest before implementation. Once the activity is launched it should be controlled as to remain within the budget. Evaluation program is a must after implementation of the promotional scheme. Public Relations Companies cannot survive in isolation they need to have a constant interaction with customers, employees and different stakeholders. This servicing of relation is done by the public relation office. The major function of the public relation office is to handle press releases, support product publicity, create and maintain the corporate image, handle matters with lawmakers, guide management with respec t to public issues. Companies are looking at ways to converge with functions of marketing and public relation in marketing public relation. The direct responsibility of marketing public relation (MPR) is to support corporate and product branding activities. MPR is an efficient tool in building awareness by generating stories in media. Once the story is in circulation MPR can establish credibility and create a sense of enigma among sales people as well as dealers to boost enthusiasm. MPR is much more cost effective tool than other promotional activities. * Direct Marketing The communication establishes through a direct channel without using any intermediaries is referred to as direct marketing. Direct marketing can be used to deliver message or service. Direct marketing has shown tremendous growth in recent years. The internet has played major part in this growth story. Direct marketing saves time, makes an experience personal and pleasant. Direct marketing reduces cost for companies. Face to face selling, direct mail, catalog marketing, telemarketing, TV and kiosks are media for direct marketing. Advertisement, Promotional activity, Public relation and direct marketing play an essential role in helping companies reaches their marketing goals. 4d. Place Samsung will penetrate into Singapore market and get customers through indirect marketing channel. It will be using a one-tier channel to distribute Samsung Galaxy Note II. Samsung Singapore will be the distribution centre in Singapore. Singtel, Starhub M1 being the leading Telco retail outlet company in Singapore are chosen as its exclusive intermediary to sell the products to customers. Samsung Manufacture Plant Samsung Manufacture Plant Samsung manufactures its Galaxy Note II in China where it will ship its product to Samsung Singapore for distribution to the various Telco. The diagram below shows the indirect consumers marketing channel. Samsung [Singapore] Samsung [Singapore] Consumers Consumers Singtel Singtel Starhub Starhub M1 M1 5. Implementation plan Samsung will use design marketing communications program to execute promotional activities to provide consistence message across all audience and by taking customers’ expectations into consideration. First Stage (1 months: Sep 2012 to Oct 2012) – Advertising Samsung Galaxy Note II will be advertised in the various mediums of advertising through broadcast, print and internet advertising. Internet Advertising With the increased rate of Singaporean connected through internet. Internet advertising will be a great way to advertise Samsung Galaxy Note II. Advertisement will be held in Twitter, Facebook, YouTube, Apps, Forum and Email. Second Stage (1 day; Oct 19 2012) – Launch Event 6. Reference 1. http://www. samsung. com/global/microsite/galaxynote/note2/spec. html? type=find 2http://www. blackbox. com. sg/wp/wp-content/uploads/2012/05/Blackbox-YKA-Whitepaper-Smartphones. pdf 3http://gmx. xmu. edu. cn/ews/business/pmarketing/chapter10. htm#internal 4http://www. ntrepreneur. com/article/170964 5http://www. managementstudyguide. com/tools-of-promotion. htm 6http://www. darrensim. com/2012/10/20/samsung-galaxy-note-2-launch-in-singapore-october-2012/ 7http://www. singstat. gov. sg/stats/themes/economy/hist/cpi. html 8http://www. tradingeconomics. com/singapore/gdp-growth 9http://www. yousaytoo. com/comparison-chart-iphone-5-vs-iphone-4s-vs-galaxy-s3-vs-galaxy-note-2 -vs/4101135 10http://www. rankingthebrands. com/Brand-detail. aspx? brandID=518 7. Conclusion Samsung Galaxy Note II is becoming a hot product in the whole markets that feature S-Pen. It’s products bringing out the large screen for a movie experience, it’s technology beats other competitor off. Considering the large size of the Samsung Galaxy Note II, careful consideration is required in order to determine if it’s the right smartphone for your needs. I found the big screen to be more of a draw than the actual S Pen stylus, but I would be less likely to buy it because I need something highly pocketable, not something that I would have to carry in a purse or gear bag. The stylus is a unique addition, but of limited utility for anyone who is already comfortable using a touchscreen and/or a virtual keyboard to enter text. It’s fun to use for drawings and such, maybe a quick grocery list, but digital artists and hardcore notetakers would likely be happier with either a larger tablet or a Bluetooth keyboard. If you’re willing to make the commitment, however, the Galaxy Note II is a powerful device and a good performer. * Pros * Excellent screen (Large and bright) * Great performance * S Pen stylus is useful for drawing ad quick notes * Great voice quality * Cons * Huge (Note really pocketable, especially for ladies) How to cite PSB Academy – Diploma in Business Administration, Essay examples

Bankruptcy Prediction Model

Question: Discuss about the Bankruptcy Prediction Model. Answer: Bankruptcy Prediction model is used to determine as to whether any firm is a going concern or not. Under this model predictions are made on various measures of financial distress of a firm. It includes the wide areas of accounting and finance. These predictions play a vital role. This model is considered as most reliable model by the investors and creditors for considering a firm as going concern. Thus, importance of this model has been increased in recent years due to increased financial crisis in the whole world. Major objective of this study is to check the reliability of different prediction theories used to check the solvency power of the firm. It uses the technical penal data for estimating the probability of financial difficulties. This model use the data form G-7 countries in order to obtain a marker of various financial issues that includes the specific nature of every firm. Following Calculation is used under this model- This model is based upon the logit model for predicting various financial variables relating to bankruptcy. This study use the various models to predict the variables, sometimes it become difficult to evaluate the best method prediction. So the common method use in G-7 countries is given below- Z Score = [{3.3 * (EBIT/ Total Assets)} + {1.2* (Net Working Capital / Total Assets)} + {1 * (Sales / Total Assets)} + {0.6 * (Market Value of Equity / Book Value of Debt)} + {1.4 * (Accumulated Retained Earnings / Total Assets)}] This formula is used to evaluate the possibility of the firm to be a going concern entity. While making the calculations, if the result of Z score is less than 2.67 then this indicates chances of firm becoming bankrupt more than 95 % within a year. So the going concern is assumed to be in trouble and auditor is required to qualify his audit report regarding the same. Generally three variables are mostly used under this model- Total Earnings / Total Assets Retained Earnings / Total Assets Total Debt / Total Assets The here above mentioned theory gives the best result of bankruptcy as they relate to profitability and debt of any firm. Conclusion This model is globally used by different countries due to increase in the number of bankruptcies in business. This theory is proved to be reliable as the results of this theory confirms the superiority of global model of bankruptcy as compared to regional models. This theory fulfills the requirement of International Auditing Standards and the principle of going concern. It is the feasible model for evaluating the going concern and to support the auditors opinion regarding going concern. This model has some limitations too as this model barely exist. It covers the firms having financial difficulties but fails to focus on bankrupt firms. This model may provide significantly inappropriate results if it is applied for the time period or the industries other than those which were used to develop the model. Hence, the researchers should be cautious in application of this model. References Alaminos, David, Agustn del Castillo, and Manuel ngel Fernndez. "A Global Model For Bankruptcy Prediction". N.p., 2017. Print. Kuruppu, Nirosh, Fawzi Laswad, and Peter Oyelere. "The Efficacy Of Liquidation And Bankruptcy Prediction Models For Assessing Going Concern".Managerial Auditing Journal6/7 (2003): 577-590. Web.

Mr. Ben Essay Example

Mr. Ben Essay Theoretical Economics Letters, 2012, 2, 109-113 doi:10. 4236/tel. 2012. 21020 Published Online February 2012 (http://www. SciRP. org/journal/tel) The Effects of Income Inequality on Education Policy and Economic Growth Katsuyuki Naito, Keigo Nishida Graduate School of Economics, Kyoto University, Kyoto, Japan Email: k. naito. [emailprotected] com, k. [emailprotected] ecs. kyoto-u. ac. jp Received November 30, 2011; revised December 20, 2011; accepted December 28, 2011 ABSTRACT This paper presents a simple model to investigate the relationship among initial income inequality, education and economic growth. Public expenditure on education is determined through majority voting. Although preferences of individuals are not single-peaked, the individual with the median income becomes the decisive voter. Our model predicts that high initial inequality has a negative impact on education expenditure and therefore retards economic growth. Keywords: Income Inequality; Majority Voting; Human Capital Accumulation; Economic Growth 1. Introduction The relationship between initial levels of income inequality and economic growth is a central question in growth and development literature. Many political economists have addressed this question by analyzing how income inequality affects the size of redistribution. Standard politico-economic theories predict that, under majority voting, high income inequality is associated with a large scale of redistribution policies as the poor majority favors it. Persson and Tabellini [1] argue that income redistribution creates adverse incentive for investments and therefore high income inequality is harmful for growth. However, redistribution policies may promote economic growth if they are practiced through the provision of public goods that can enhance future productivity. We will write a custom essay sample on Mr. Ben specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Mr. Ben specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Mr. Ben specifically for you FOR ONLY $16.38 $13.9/page Hire Writer SaintPaul and Verdier [2] construct a model in which public education is the channel of redistribution. In their model, high income inequality implies strong support for public education, which facilitates human capital accumulation and economic growth. In contrast to these theories, the hypothesis that high inequality is associated with redistribution is not supported by data. For example, crosscountry regressions by Easterly [3,4] show that higher inequality leads to lower levels of public goods, education, per capita income and growth rates. This suggests the necessity for further investigations on how income inequality affects public policies and growth. This paper proposes a simple model to reconcile the theory and evidence, and analyzes the relationship among income inequality, human capital accumulation 1 and economic growth in a politico-economic framework. In the model, the heterogeneity of human capital across individuals is the only source of income inequality. We focus on two features of education. The first one is a fixed cost of education. We consider a situation in which individuals must pay tuition fees to have access to education services although they are provided by the government. This aspect of education is particularly relevant to post-compulsory education, such as high school and university education. The second feature is that the return from education is positively correlated with the level of human capital inherited from parents. 1 These two features play a key role in the determination of the size of education services under majority voting. The main result of this paper is that high initial levels of inequality cause less publicly provided education services, or lower tax rates. In our model, the individual with median income is the decisive voter although preferences for tax rates are not single-peaked. When inequality is high and the income of the median voter is low, he or she does not prefer a high tax rate to enhance education. This is because the median voter cannot cover the fixed cost of education or the private return from education is too low due to his or her low level of inherited human capital. High inequality is therefore harmful for human capital accumulation and growth, which is in contrast to the result of Saint-Paul and Verdier [2]. 2. The Model We consider an overlapping generations economy in which individuals live for two periods. They are heterogeneous only with respect to their human capital within TEL Many empirical studies such as Hanushek [5] find a positive effect of parental human capital on the return from education. Copyright  © 2012 SciRes. 110 K. NAITO ET AL. each generation. Each individual has one parent and one child, and the size of each generation is normalized to one. In the first period, individuals make no economic and political decisions, but receive education if their parents decide to invest in human capital of their children. In the second period, individuals inelastically supply their human capital to a final good sector and decide whether to invest in education for their children. Using human capital, h, the final good sector produces according to a linear production function, y = h, where y is the output. The final good market is perfectly competitive, and therefore, the wage for one unit of human capital is one. Individuals derive utility from consumption in their second period and human capital of their children. The preference of individual i born in period t are represented by a linear utility function, U ? cit ? 1 , hit ? 1 ? ? cit ? 1 ? hit ? 1 , government must hire teachers in the public education system. On the condition that the wage per teacher is equal to the average wage in the economy, the ratio Gt ? 1 ht represents the number of teachers in the public education system. From (3) and (4), human capital of individual i born in period t+1 who receives education is given by hit ? 1 ? ? t 1ht ? ht . 5) In contrast, individuals just inherit their parental human capital if their parents do not invest in education: hit ? 1 ? hit . (6) (1) where cit ? 1 and hit ? 1 are consumption in the period t + 1 and human capital of his/her child, respectively. The investment in education requires one unit of the final good as a fixed cost. Individuals must self-finance the cost because human capita l of their children is not valid collateral to lenders. The consumption of individual i born in period t is given by ? ?1 ? ? t ? 1 ? hit ? 1 if investing in education, cit ? 1 ? ? otherwise, ? ?1 ? ? t ? 1 ? hit Individuals with hit ? 1 ? ? ? t ? 1 ? ? H1 t ? 1 ? cannot afford to invest in education. The threshold H1 is increasing in ? t ? 1 . A high level of ? t ? 1 reduces disposable income of individuals and makes more individuals unable to invest in education. In contrast, individuals with hit ? H1 t ? 1 ? are able to invest in education. From (1), (2) and (5), the welfare of an individual with hit who chooses to have their children receive education is given by V E t ? 1 , hit ? ? ? 1 ? ? t ? 1 ? hit ? 1 ? ? t 1hit ? hit . (7) On the other hand, the welfare of an individual with hit who chooses not to invest in education is given by V N ? 1 , hit ? ? ? 1 ? ? t ? 1 ? hit ? hit . N (2) (8) where ? t ? 1 is the proportional labor income tax rate at period t+1. Remember that h it is the human capital of individual i born in period t, which is supplied to the final good sector at period t + 1. The government manages an education sector. By levying a labor income tax on parental individuals, the government finances public expenditure which raises the productivity of the education sector. Let the distribution of hit be denoted by Ft . The average human capital, ht , is then given by ht ? ? hit d Ft ? hit ? , and the tax revenue is ? ? 1ht . Assuming that the government budget is balanced in each period, we obtain Gt ? 1 ? ? t ? 1ht , The welfare function V is decreasing in ? t ? 1 since higher tax rates reduce the consumption in the second period. It is easy to see that individuals with hit ? 1 ? t 1 ? H 2 t ? 1 ? are willing to invest in education, while individuals with hit ? H 2 t ? 1 ? are not. Notice that the threshold H2 is decreasing in ? t ? 1 . An increase in ? t ? 1 raises the return on education, and thus, makes more individuals willing to inves t in education. 3. Preferred Tax Rates We proceed to analyze the characteristics of a politicoeconomic equilibrium in which the level of labor income tax rate is determined under majority voting. Since schoolage individuals do not participate in voting in many countries, we assume that only individuals in the second period have voting rights. To characterize the politicoeconomic equilibrium, we need to identify the tax rate that each individual prefers the most. Let us define ? ? and H by H1 ? ? H 2 ? and H ? H1 ? . ? and ? ? ? 0,1? , First of all, for any hit ? H t ? 1 hit ? max ? H1 t ? 1 ? , H 2 t ? (see Figure 1). Any indi? viduals with hit ? H are unwilling or unable to have their children receive education and therefore prefer ? t ? 1 ? 0 . We then investigate preferences of individuals with ? hit ? H . It is useful to define ? 1 ? hit ? and ? 2 ? hit ? by TEL (3) where Gt ? 1 is the public expenditure on the education sector. Individual i whose parent pays the fixed cost of education can have access to educa tion services and accumulate human capital according to the following human capital production function: ? G ? hit ? 1 ? ? t ? 1 ? hit ? hit , ? ? ? 0,1? . (4) ? ht ? Notice that the human capital production function depends on the ratio of public education expenditure to average human capital. The interpretation is as follows. The Copyright  © 2012 SciRes. ? K. NAITO ET AL. 111 Figure 1. The features of H1 and H2. ? 1 ? hit ? ? ? H1 ? ?1 ? hit ? ? 1 ? ? 1 , hit 1 ? 2 ? hit ? ? ? H 2 ? ?1 ? hit ? ? hit ? . For 0 ? ? t ? 1 ? ? 2 ? hit ? , an individual with hit is unwilling to invest in education because the return from education is too low. For ? 2 ? hit ? ? ? t ? 1 ? ? 1 ? hit ? , the individual is willing and able to invest in education. For ? 1 ? hit ? ? ? t ? 1 ? , the individual cannot afford to invest in education because of the high labor income tax rate. The ? welfare of individual i with hit ? H is summarized as ? V N t ? 1 , hit ? if ? W t ? 1 , hit ? ? ? V E t ? 1 , hit ? if ? V N , h ? if t ? 1 it ? Hence, these individuals prefer ? t ? 1 ? ? * if ? hit ? 1 ? ? * ? ? * ? and prefer ? t ? 1 ? 0 otherwise. ? ? ? ? ? In case (ii), i ndividuals with hit ? ? H , H1 ? * are ? * not able to invest in education at ? t ? 1 ? ? since ? 1 ? hit ? ? ? * . The welfare of these individuals is drawn in Figure 3(a). By simple calculations, we can see that ? V E 1 ? hit ? , hit ? ? V N ? 0, hit ? for any hit ? ? H , H1 ? * . ? ? ? Hence, such individuals always prefer ? t ? 1 ? 0 . Individuals with hit ? H1 ? * have their children receive education at ? t ? 1 ? ? * , and the welfare of such individuals are depicted in Figure 3(b). Similarly to case (i), these ? individuals prefer ? t ? 1 ? ? * if hit ? 1 ? ? * ? ? * ? and ? ? ? ? prefer ? t ? 1 ? 0 otherwise. We summarize the results of this section in Proposition 1. Proposition 1 Individual i with hit prefers ? t ? 1 ? ? * ? if hit ? 1 ? ? * ? ? * ? , and prefers ? t ? 1 ? 0 otherwise. ? ? ? ? ? ? ? ? ? ? ? ? ? 4. Majority Voting Equilibrium This section shows that the individual with median income is the decisive voter although the welfare of individuals over tax rates is not single-peaked as shown in Figures 2 and 3. The logic shares similarity with that of Glomm and Ravikumar [6]. Let hmt denote the human capital level of the individual with median income. If ? hmt ? 1 ? ? * ? ? * ? , then the individual with median in? ? ? ? come prefers ? t ? 1 ? 0 . Since individuals with hit ? hmt , who comprise of fifty percent of the total population, ? 2 ? hit ? ? ? t ? 1 ? ? 1 ? hit ? , ? 1 ? hit ? ? ? ? 1 ? 1. (9) 0 ? ? t ? 1 ? ? 2 ? hit ? , We define ? * by ? ? ?V E * ? , hit ? 0 ? ? * ? ? 1 ? ? 0,1? t ? 1 ? ? 1 in order to fully describe the preferred tax rate of individual i with hit . It is clearly evident that ? 1 ? hit ? , ? 2 ? hit ? and ? * satisfy the following relations: ? 2 ? hit ? ? ? * ? hit ? H 2 * ? , ? 1 ? hit ? ? ? * ? hit ? H1 * ? . There are two cases that need to be considered: (i) H1 ? * ? H 2 (? * ) and (ii) H 2 ? * ? H1 ? * . We start ? are with case (i). Individuals with hit ? ? H , H 2 ? * ? * unwilling to invest in education at ? t ? 1 ? ? since ? * ? ? 2 ? hit ? The welfare of such individuals is drawn in Figure 2(a). They prefer ? t ? 1 ? 0 . Individuals with hit ? H 2 ? * are willing to invest in education at ? t ? 1 ? ? * since ? 2 ? hit ? ? ? * . The welfare of such individuals is depicted in Figure 2(b). Simple calculations show 1 V E ? * , hit ? V N ? 0, hit ? ? hit ? . * ? ? * ? ? ? ? ? ? ? (a) ? ? ? ? ? ? (b) Figure 2. The welfare in case (i). TEL Copyright  © 2012 SciRes. 112 K. NAITO ET AL. human capital according to (5) with ? t ? ? * . In contrast, all individuals in lineage i such that hi 0 ? max H1 ? * , H 2 ? * ? ? ? ? ? ? just inherit their parental a) human capital in all periods, i. e. , hit ? hi 0 for all t ? 1 . ? If hm 0 ? 1 ? ? * ? ? * ? , then government expenditure ? ? ? ? on education is zero and no one can obtain education provided by the government. This situation continues and hit ? hi 0 for all t ? 1 and i. Proposition 3 summarizes these results. ? Proposition 3 If hm 0 ? 1 ? ? * ? ? * ? , then ? t ? ? * ? ? ? ? for all t ? 1 . All individuals in lineage i such that ? ? hi 0 ? max H1 ? * , H 2 ? * accumulate their human capital according to (5), while all individuals in lineage i ? ? ? ? such that hi 0 ? max H1 ? * , H 2 ? * (b) Figure 3. The welfare in case (ii). also prefer ? t ? 1 ? 0 , there exists no tax rate that obtains more than fifty p ercent votes to beat ? t ? 1 ? 0 . If ? hmt ? 1 ? ? * ? ? * ? , then the individual with median ? ? ? ? income prefers ? t ? 1 ? ? *. Since individuals with hit ? hmt , who constitute fifty percent of the total population, also prefer ? t ? 1 ? ? * , no tax rate gains a majority vote to beat ? t ? 1 ? ? * . Hence, the individual with median income is the decisive voter. Proposition 2 Under majority voting, ? t ? 1 ? ? * if hmt ? ? 1 ? ? * ? ? * ? , and ? t ? 1 ? 0 otherwise. ? ? ? ? ? ? never enhance ? heir inherited human capital. If hm 0 ? 1 ? ? * ? ? * ? , ? ? ? ? then hit ? hi 0 and ? t ? 0 for all t ? 1 and i. ? When hm 0 ? 1 ? ? * ? ? * ? , politically implemented ? ? ? ? public education accumulates the human capital of individuals in lineages whose initial human capital is greater ? ? ? ? ? ? ? ? than max H1 ? * , H 2 ? * growth. In ? ? ? ? , and it stimulates economi c contrast, when h ? 1 ? ? ? ? , public ? ? ? ? * ? * m0 ? ? 5. The Result As described in Introduction, empirical evidence shows that high income inequality is associated with lower levels of education, public good provision and per capita income. In contrast to the results of Saint-Paul and Verdier [2], our model predicts that high inequality leads to less government expenditure on education. In the model, whether human capital is accumulated and the economy grows over time depends on the initial distribution of human capital, or income distribution. To understand this point, it should be noted that the child of the median voter is the median voter in the next period because human capital evolves according to (5) and (6). ? ? I f hm 0 ? 1 ? ? * ? ? * ? , t h e n hmt ? 1 ? ? * ? ? * ? ? ? ? ? ? ? ? ? for all t ? 1 since human capital does not depreciate. Hence, ? t ? ? * for all t ? . All individuals in lineage i education is not implemented, and there is no human capital accumulation. These results imply that high initial inequality retards economic growth. This paper has analyzed the relationship among income inequality, education and economic growth by focusing on two features of education, fixed costs and positive correlat ion between the return from education and the level of inherited human capital. Fixed costs of education are particularly relevant for post-compulsory education. The analysis on situations in which compulsory and post-compulsory education coexist would be a fruitful direction for further research. REFERENCES [1] T. Persson and G. Tabellini, â€Å"Is Inequality Harmful for Growth? † American Economic Review, Vol. 84, No. 3, 1994, pp. 600-621. G. Saint-Paul and T. Verdier, â€Å"Education, Democracy and Growth,† Journal of Development Economics, Vol. 42, No. 2, 1993, pp. 399-407. doi:10. 1016/0304-3878(93)90027-K W. Easterly, â€Å"The Middle Class Consensus and Economic Development,† Journal of Economic Growth, Vol. 6, No. 4, 2001, pp. 317-335. doi:10. 1023/A:1012786330095 ? ? ? ? [2] such that hi 0 ? max H1 ? * , H 2 ? * Copyright  © 2012 SciRes. ? ? ? ? [3] accumulate their TEL K. NAITO [4] W. Easterly, â€Å"Inequality Does Cause Underdevelopment: Insights from a New Instrument,† Journal of Development Economics, Vol. 84, No. 2, 2007, pp. 755-776. doi:10. 1016/j. jdeveco. 2006. 11. 002 E. Hanushek, â€Å"The Economics of Schooling: Production and Efficiency in Public Schools,† Journal of Economic ET AL. Literature, Vol. 24, No. 3, 1986, pp. 1141-1177. [6] 113 [5] G. Glomm and B. Ravikumar, â€Å"Opting out of Publicly Provided Services: A Majority Voting Result,† Social Choice and Welfare, Vol. 15, No. 4, 1998, pp. 187-199. doi:10. 1007/s003550050099 Copyright  © 2012 SciRes. TEL

immigration speech essays

immigration speech essays Specific Purpose: To persuade my audience that illegal immigration is too high in our country and changes need to be made. Central Idea: Illegal immigration is out of control on our southern border and all Americans are suffering. I. Imagine you step out of your car to fill it with gas; you hear a pop up in the hills and then look down to find a loved one lying in a puddle of blood with a hole through their head. A. Or living in fear of your life every second of your life, this was the situation during the killing spree which should have been prevented by the sniper John Lee Malvo. B. Malvo like so many others was able to just slip through the cracks of our ineffective INS policy. He was apprehended near Seattle in January of 2002 by the border patrol and handed over to the INS with an immediate deportation recommendation. But the INS overruled the Border Patrol and released Malvo into the wind. II. American spend billions of dollars every year on illegal immigrants, thousands of tons of drugs are smuggled into the US and millions of undocumented aliens pour in from Mexico, while Washington stands by and does nothing to alleviate the problem. A. Illegal immigration undermines legal immigration, harms the American workforce, fills our prisons, and cost Americans and estimated 20 billion a year, and why is nothing be done you might ask? Politics B. With the huge numbers of Hispanic voters, any politician wanting to crack down on our southern borders can kiss their vote away hence pretty much costing him his position in any elected position. I. Many people believe that illegal immigration is a victimless crime that is not the case. A. Illegal immigration causes substantial harm to American citizens and legal immigrants, particularly those in the most vulnerable sectors of our population, the poor, minorities and children. ...

Alpha Plantations and Major Crisis in 1999 Term Paper - 1

Alpha Plantations and Major Crisis in 1999 - Term Paper Example The oil palm company Alpha Plantations Sdn Bhd in Malaysia has two major divisions namely Oil Palm Estate and Palm Oil Mills. This company is owned by a British Company and aims to supply oil to the parent company’s detergent manufacturing business. The company employs local workers to meet the workforce needs. The mill carries out its operations in a shift based environment with three shifts employing 25 works per shift. Supervisors are appointed to watch over the work of each shift. Among the most senior members of the company is Mr. Ang. He is working in the company since 1965 and has achieved the designation of the senior production supervisor through constant efforts and struggles. Mr. Ang is supposedly experienced in dealing with almost every situation surrounded by the company’s premises. He deals with the workers, solves their normal issues, is responsible for the undisrupted operations of the business, involved in the coordination of shift planning, responsible for the preparation of daily production reports, sets short-term performance targets for the shifts and also helps in Human Resource Planning issues. He also acts as a ‘Gatekeeper’ which directs towards his important role as an assistant to the mill manager and every issue comes into his supervision before it reaches the mill manager. Owing to the multitasking and untiring efforts of Mr. Ang, the mill manager is quite satisfied and contented with the firm, methodical and almost militarily efficient way of running the business. The year 1999 acted as a devastating experience for Alpha mills. The basic reason behind the deteriorated financial performance was the cut off in the oil prices. The mill manager, Captain Chubb, could not find a better way to overcome the situation and restrain the regular losses. Captain Chubb was replaced by Mr. Ian Davison who was appointed as a new mill manager to Alpha mills.

American Government Research Paper Example | Topics and Well Written Essays - 1250 words

American Government - Research Paper Example History of same sex marriages is young. In 1993, the Supreme Court of Hawaii ruled in favor of same sex marriages, as their rights were denied to them on the basis of their sex and not sexual orientation (NYT 2012). Though Hawaii defined by law that marriage is to be between a man and a woman only, conservatives across the country lobbied (NYT 2012). In 1996, Congress passed the Defense of Marriage Act, which denied federal benefits to married people of the same sex and authorized states to neglect gay marriages sanctioned in other states (NYT 2012). Same sex marriage is still illegal at the federal level, though practiced by several states. The Massachusetts Supreme Court in 2004 ruled that the same sex marriage is legal in the State of Massachusetts (NYT 2012). Since then, a few other states followed the suit: New York, Connecticut, Iowa, New Hampshire, Vermont and Washington, D.C. (NYT 2012). It was not until 2012 when Vice President Biden publicly stated that he supported same sex marriages that President Obama decided to push for same sex marriages to be legalized in the USA (NYT 2012). In 2011, President Obama â€Å"directed the Justice Department to  stop defending the Defense of Marriage Act† (NYT 2012).    Though some states legalized same sex marriages, the refusal to acknowledge these marriages is not a violation in other states. According to the Article IV of the US Constitution, the Full Faith and Credit Clause, states must respect each other’s laws (Sachs 1203). However, under the Defense of Marriage Act this is no longer true. This act excuses states from being in compliance with laws of other states with regard to same sex marriages. According to Sachs, states can do so as long as the laws of other states conflict with their own, important national interests (1205). Since Congress did not clearly state under what conditions states must comply with other’s states’ laws, the Full Faith and

Leaders and Managers Term Paper Example | Topics and Well Written Essays - 750 words

Leaders and Managers - Term Paper Example This essay discusses that the role of a manager and a leader in the organizational setting are different with respect to their function within the group. Gomez-Mejia and Balkin describe a leader as an individual â€Å"that energizes people to contribute their best individually and in cooperation with other people†. The description or definition identifies key elements of the role that distinguishes a leader from a manager. Schein says leaders are responsible for creating and establishing the culture within an organization. Similarly, leaders foundationally and fundamentally form the mission of the organization and create the environment within the culture in which the operations of the organization will function. Generally, the term leader carries the mystic of a person with a larger than life personality and presence that is able to get others to do behave in certain ways. Whereas the depictions of such personalities describe a particular type of leader the basic trait of inf luencing others is applicable to the organizational setting. According to Maxwell, â€Å"Leadership is influence nothing more, nothing less†. His statement affirms that a leader’s primary function within an organization is to influence others giving direction and guidance to the activities within the organizational structure and culture. Leaders influence what decisions are made, how to implement the decisions chosen and assist in formulating strategies to divide the labor between the specialized work groups to meet the goals and objectives of the organization.... On the other hand, a manager’s presence and interaction with workers in the organization is vital for ensuring and maintaining a healthy culture. Another responsibility of his or her role is to make certain the processes within the organization are in alignment with the strategic goals. Using a face-to-face and hands-on approach according to Schein (2004) produces higher efficiency and cohesion within the organizational culture. He uses the term â€Å"visible management† inferring the importance of managers’ visible presence within the organizational culture and the significance of a manager’s accessibility for workers (p. 228). Management in the â€Å"New Millennium† as described by Gomez-Mejia and Balkin (2002, p. 4) and because of globalization and the decentralization of the organizational design is rendering the traditional manager ineffective in the current environment. The new environment does not allow a manager to perform his or her duties in isolation without human exchange and interaction (Schein, 2004). The system of management and managers in the present competitive and technological climate requires those in managing positions to develop additional skills for higher levels of efficiency in response to the evolving external and internal environments. Schein (2004) suggests three types of managers exist in an organization: 1) strategic, 2) tactical, and 3) operational (pp. 4-5). In his analysis the hierarchical design reflects a top down organizational structure with the strategic manager representing the senior executive level of managers or the upper level of management. In the role of a strategic manager one responsibility is to develop the strategic goals

The Life Of Working Mothers In Pakistan Social Work Essay

The Life Of Working Mothers In Pakistan Social Work Essay Purpose: This study explored the experiences of mid-career professional working mothers exercising integration between work, family and selves in the context of the city of Faisalabad, Pakistan. It has been examined that how the family systems included joint and nuclear, affected them and their careers. Findings: The study showed that the professional working mothers are responsible for performing their domestic and professional roles, besides self-care. The proper incorporation of both roles is plausible with the stipulation of flexibility from both, work and family system, both, joint and nuclear family system. All women had intense feeling of motherhood; their career was also of high importance for them as they find their values and purpose. They wanted to achieve the objectives of their lives and self-fulfillment. Now they were better able to balance their family, work and individual self in comparative to start of their careers. Research Limitations: The response rate from the audience was low, but, through in-depth, rich and contextual information, which was received during interviews, tried to overcome these flaws. The females from the targeted population became very anxious and some were refused to give audiotaped interviews. Originality/Value: This paper contributes in the work-life integration for professional working mothers. The study explored that what type of hindrance or support a working mother living acquired form the family system and from the workplace and how they integrate the both. Kaleidoscope career model was used for this purpose. Keywords: Professional working mothers, mid-career, joint family system, nuclear family system, work, Faisalabad Paper Type: Research Paper The proportions of women make up an increase in full-time workforce (Metz, 2005), especially in the professional and managerial fields around the world (Cabrera, 2007). Pakistan is in the phase of transition (Raza Murad, 2010), since July 2009 women employment is increased by 1.7% (Labour Force Survey, 2010). The increased proportion of women in labor force creates bigger challenges for women in the incorporation of roles and responsibilities and managing time accompanied with child bearing and child rearing years (Grady McCarthy, 2008). These challenges stimulated scientists to create a link between work, family and self (Valimaki, Lamsa Hiillos, 2009). As a result pressure on organizations to respond towards employees family responsibilities has been increasing (Goodstein, 1994). Additionally the challenge for the organization to find out the adequately integration between domestic and work life by work -family (WF) arrangements (Peeters, Wattez, Demerouti Regt, 2009), by provi ding equality policies, statutory entitlement, maternity leave, carers leave, parental leave, and non statutory arrangements like flextime, e-working, job sharing, term-time working (Glass Estes, 1997, Grady McCarthy, 2008). The increasing number of working mothers, over past years, has increased pressures for them as they confront meaning in work, family and personal life (Grady McCarthy, 2008). Work-life integration seems to be difficult for professional mothers due to increased pressures. They not only need to create meaning in their work, family, personal life by selves but they also need support at work place by the employer. The support by the employer at work place towards integration of work, family and self leads towards self-fulfillment and satisfaction which have positive outcome for them and ultimately for employer (Auster, 2001). The absence of the support by the employer may lead to the difficulties for the professional mothers. The work intensification and long hours, coupled with child rearing demands result in stress and labor turn over (Jones McKenna, 2002). The purpose of this study is to explore the issues, problems and experiences of mid-career professional mothers regarding work-life integration in Faisalabad, Pakistan. How the most prevailing family systems in Pakistan, joint and nuclear (Ahamad, 2002), affect them. The study examines what type of hindrance they face and what type of support they need at work place as well as from the family. Now in Pakistan, vast segment of the society based on women cannot be denied the womens status, autonomy and equality in playing a role in social, economic opportunities and nation building (Amir, 2004, conference paper). Concerns about the economy and as well due to the changes occurred in womans aspirations has increased the women as work force as never before (Ahamad, 2002). According to labor force survey 2010, womens employment rate increased by 1.7% as mentioned above. The focus is on mid-career professional working mothers because they are in the stage of career when a lot of attention i s required by their family and as well for building their professional career. Professional working mothers are defined as those mothers, who manage, develop and invest their professional career throughout the period of rearing their family (Grady McCarthy, 2008). Work-life integration Work and non-work are interdependent and the individuals have to play roles simultaneously or to switch frequently from one role to the other (Wilson et al., 2004). Work role is the professional duties assigned by the organization and non work includes family or domestic duties have to perform for family. Central idea of this research paper is work life integration. Work-life integration is defined that how professional workers incorporate the duties at work place accompanied with the domestic duties along self demands. This belief gained a lot of attraction in the past decade (Metz, 2005, Grady McCarthy, 2008, Valimaki, Lamsa Hiillos, 2009, Peeters, Wattez, Demerouti Regt, 2009, Goodstein, 1994, Glass Estes, 1997, Auster, 2001, Jones McKenna, 2002, Karatepe, 2009, Wilson et al., 2004 Burke, 2004). With rise of industrialization, the agrarian model is now replaced, the conventional role of women expected to take care of the children and men as bread winner is going to be change d (Valimaki, Lamsa Hiillos, 2009, Grady McCarthy). Employees need to confront the work and non-work roles corresponding. Dissolution, interference and conflict between the roles may lead to disorder, burn out, emotional exhaustion (Grady McCarthy, 2008 Peeters, Wattez, Demerouti Regt, 2009), negative health outcome dissatisfaction and emotional dissonance (Karatepe, 2009). The work-family conflict is considered bi-directional (Cohen, 2009, p. 814). Managing multiple tasks at a time may lead towards conflicts from work to family life and from family to work life (Kirrane Monks, 2004). Sense of equilibrium may create by positive spillover, enrichment and facilitation (Glass Estes, 1997, Valimaki, Lamsa Hiillos, 2009). On the other hand women entrance in workforce in last two decades at an precedent pace (Auster,2001), resulted dual-earner and in low gap between male and female (Ahamad, 2002). Females need support from family system and spouse to make an appropriate assimilatio n (Valimaki, Lamsa Hiillos, 2009). The family system and work-life integration for mid-career women It has been proposed that a professional womens career is difficult to be examined without examining her non-work life family system and spouse (Powell Mainiero, 1992). Family, a smallest unit of a society composed of two or more people who are interconnected by marriage, blood or adoption, live together from an economic unit, has basic features of sharing and togetherness (Ahamad, 2002). Two types of household systems, dominant in Pakistan, joint family system, in which women with her husband and children lives with in-laws, and the nuclear family system, in which a woman separately lives with her husband and children (Amir, 2004). A newly married working woman prefers to live in nuclear family system but in child bearing stage this system jeopardizes her life (Aamir, 2004). Due to the lack of day care centers and unreliable servants and maids may make it difficult for the working professional mothers to take care of their dependent children particular in mid-career. In such case joint family system becomes the heart favorite of working professional mothers (Aamir, 2004), which may facilitate and may take care of their children, in their working hours. Woman marries the whole family and she is answerable to other family members(Ahamad,2004), tough responsibilities are on her shoulders, specifically in joint system, leads towards heavy burden when woman is working as professional and as well as an economic hand of her partner. In such case woman may feel dissonance and may prefer nuclear system where number of dependents are less, she needs support from her spouse and work place to continue her professional career. Modern life is leading towards change in roles of women and men due to continuous changes in economic and demographic trends (Ahamad, 2002) The percentage of married couples increased in previous decades, in which both spouses worked full time, a spouse or a partner can provide basic support, include sharing home, parenting responsibilities, encouraging career development, interpersonal support needed by working women (Gordon Whelan-Berrry, 2004). After passing day long activity at workplace may make a working women exhausted and make it thorny for her to take care of children along household duties. In such case professional working women particular in mid-career, where family demands with child rearing are increasing accompanied with career growth. It may become difficult to incorporate both without support from family and work place. In some cases, family and spouse do not facilitate working women but sometimes do really support (Karatepe, 2009). Working professional mother may b e from Joint family system or nuclear family system, necessitate ample support. It may affect in work-life integration. By sharing common interests a flexible spouse enables working woman to manage their career and integrate work and family lives successfully (Valimaki, Lamsa Hiillos, 2009), especially in mid-career where career has already established and women are beyond the parenting of infants and toddlers, finding new challenges in work and personal interest (Gordon Whelan-Berrry, 2004 Grady McCarthy, 2008). Thus, literature indicates when women are in their mid-career, face challenges regarding work-life integration while experiencing new opportunities in advancement of their career, they need to be supported by work place and family system, either joint or nuclear family system. Professional working mothers strive to integrate across the domains and to minimize the gap. This research paper aims to explore the gap that how professional working mothers create balance concerning work, family and individual selves; and how family system affects this integration? The following section indicates research methods used in the current study to address these research questions. Method Qualitative in-depth interviews were carried out with 22 professional working mid-career mothers. The criteria determination for the participants was Professional mid-career working mothers, who joint parenting role along with career advancement Age between 33 to 48, most agreed aged for mid-career in Pakistan With children, at least one dependent child, less than 18 years The sample was chosen by considering convenience and snow-ball sampling. The professional working mothers to whom authors met were asked for further contacts. The sample size of 22 professional working mothers is adequate representation of population of working professional mothers particular in mid-career in Faisalabad, Pakistan. Interviews were based upon 90 to 120 minutes and were audio-taped. Authors transliterated interviews. Table1 presents the sample questions which were asked for exploration. Sector Subject matter Sample questions 1 Responsibilities/dependent care you and your family Tell about yourself, your responsibilities at work place and self demand? How does every day job look like? 2 Amalgamating work and family life Do you find it easy or difficult to manage work, family, school etc at morning? Did you ever feel frustration and think to stay at home full time? 3 The work place-flextime, support, enrichment Is your work place family-friendly for you? Have you availability of any flextime? 4 Career development and promotion-support or barrier Are you on the right path of your career, you ever thought? How did you manage during child rearing? 5 Self-fulfillment and satisfaction Did you approach your value or purpose of mid-career? Do you consider satisfied yourself? 6 Family system Who does take care of your dependents while your working hours? What type of family system may support more mid-career women? Opt out from child day care center, house maid or relatives for your child-care? 7 Other issues Has the study enabled you to think in a different way about your? 8 Demographic data Source: Work-life integration: Experiences of mid career professional working mothers (Grady McCarthy, 2008) The content analysis was the approach used to analyze the data (Bryman Bell, 2003). The qualitative responses were collected, grouped and the concept was examined through the organized analysis of the record. The figure below presents the content analysis framework that was derived. Framework led four subject matters along with four research questions. Further integration of work is illustrated by incorporating values and essence of balance. Final column indicates the responses of the participants towards questions Sphere Themes Description Construct of work-life integration Respondents reference to theme 1. Self-perception in relation to work and family roles Children are a working mothers number one priority. When there was a clear conflict between work and children, participants made choices and children became the priority. Sense of self (assess values, beliefs and purposes) 100% Work and career is very important Career is important for participant they seem stimulation, challenges and enrichment 80% 2. Work-related factors Flexibility is two-way When flexibility is experienced at work it supports commitment and increased productivity in the in the work place in addition to integrating work and family life 60% Changing attitudinal, and social context The changing attitudes and culture in the work place and the social and legislative changes have improved the situation for working mothers Work itself (paid and unpaid) 75% Responsible for ones own career Working mothers took responsibility for their own career at all stages and more particularly now as mature members of the workforce and at mid-career they assess that it is up to them to create their own future direction 93% 3. Merge work Family system Whether joint system help professional mothers for working? Joint family including husbands parents,sisters and brothers are helpful for working mother Sense of balance Choices about time in each sphere 72% Whether Nuclear system help professional mothers for working? Nuclear system excludes members of family except husband,wife and their children is more beneficial or provide support to working woman. 28% 4. Proper Integration Self suffers when work and family become dominant Integrating work and family was a key priority throughout the years with little time for self, but participants found significance in this integration. Integration and balance across work, family and self= work-life integration 80% Paradigm is shifting and needs are changing Merging work and family is getting easier, children are getting older, seaking more time for self- meaning of integration is changing 80% Findings Demographic information and career profile The participants in this study were 22 women in number aged from 33 to 48, fall in mid-career, who endured full time job accompanied with family rearing years. All infatuated nationality of Pakistan. All participants in this paper were interviewed, indicated their marital status as married, with at least one dependent child. Three of the participants had four children; nine of the females accompanied three kids and eight of the respondents possessed two children and two females had 1 child. Seven of the females were living in joint-family system, three of which lived with just mother-in law and father-in law, and other four were living with other relatives as well. Fifteen of the participants lived in nuclear system. One of the females had infants and the children of other women were school-aged or above but at least had one independent child. The women possessed work experience between 8 to 22 years. The targeted sectors were medical, education, makeup industry, telecommunication, nursing and research officers including both public, private and semi-government organizations along with self-employment. Four targeted interviewees were doctors had specialization in different fields, work experience fall from 9 to 20 years. Two of the participants were Ph.D. doctors, fell under the category of research offi cers; eight of the respondents were from education field were working as teachers, generally owned masters degree, as well had some completed short-courses relevant to the fields. Three of the contestants were selected from telecommuting, two from banks and one from beauty salon, preserved 10 to 18 years experience and possessed different relevant short courses. Nine of the women included, were form private organizations, five were from government or public organizations, five were from semi-government and three were the self-employed. One of the respondents, had the nationality of Pakistan but lived 10 years in Madinah, Saudi Arabia and worked as lecturer in the Madinah University, Saudi Arabia for ten years, and shifted to Faisalabad for last five years and running her own school. Self-perception in relation to work and family roles The findings point out that when the family roles as well as work roles spill over each other, the number one priority professional working mothers gave to their children. It is evident from the interviews that females were very disturbed and stressed at their work, regarding their children. Women miss their children at workplace. All women became very emotional when they talked about their children. They are not ready to do compromise over their children. The working mothers focused on giving a quality time to their children. The following statements are the evident of the way of thinking of mothers: Being a mother, my children are my number one priority. I will never let my children neglected due to my career. I have a wish to pursue my career along with performing the duties related to my children as a mother. As a mother, my kids were my main concern. I always tried to give them a quality time rather than a quantity time. Self employed respondents were flexible in their working conditions. They were not bound for any ones order. Such women indicated that the reason for their being self employed was their children. They said that it was difficult for them to give an appropriate time to their children. I am self-employed and running my own school. I rare feel to make an adjustment difficult between children and my career. In case of any accident or sickness of child it is easy for me to take a leave. All women had intense feeling of motherhood. But some women responded that their work as a stimulating factor for them. Females pointed out themselves much active due to their jobs and considered them as idle without job. They had more challenges in their lives so they worked hard and struggled more to accomplish. They identified them as more creative in contrast to non-professional women. In the start of my career, I found it hard to create a balance between work and family. But now I feel myself incomplete without my job. In off days I feel myself very lazy and idle. I even dont wash my face and take bath as I dont have to go at work. My work creates charm in my life. Work related factors: Two-way flexibility is very crucial issue in business organizations. If employers give flexibility to the employees working in an organization, the employees also put more commitment over there. Parental leaves, maternity leaves, flexible working hours, carers leave, job-sharing, may fall under the category of flexible related factors. Flexibility is very important. I am here; the reason is the cooperation from my colleagues at workplace. As yesterday, I had to attend mothers meeting of my younger child. My employer let me to go. As a result, today I am putting my maximum contribution. I am a doctor but instead of doing practice I am teaching at medical college and I got flexibility from the organization to pick my children from their school. My children are quite happy and I am also contented due to that flexibility. Some women pointed out that they had to suffer a lot because of inflexibility of the organization; sometimes it became so difficult for them to run their career during child bearing period. I am an employee of a private organization. During my career I thought many times to leave the job due to inflexibility from my organization specifically during my child bearing stage, I ever got unpaid maternity leaves for only one month. At that stage I became so frustrated due to my child care and had wished to shoot the employer. From previous decade the working trend of the women is increasing and as a result, social, behavioral and attitudinal changes are also emerging. In Pakistan, it was considered strange for the women to go out of their homes for the sake of earning beside their husbands. Now-a-days male colleagues share the responsibilities and contribute to the work with their female colleagues instead of competing with them. I have been working from eighteen years. At start of my career, my neighbors, relatives, and my male colleagues watched me in an unsophisticated way, but now at the stage of my mid-career my peer group specifically included men are very cooperative towards me. Without participation of women, its not easy to bear financial expenses only by male. Now society is more civilized and it is accepting this reality. Women only considered them responsible for their career. They often had to ignore many opportunities just due to their family and child related problems. Women were not willing to leave the city due to their family and spouse. I received much flexibility from my previous organization at Lahore. I was at the promotional stage in that unit of organization. But in case of my husbands promotion in Faisalabad I had to compromise and to leave that unit of organization and made it possible my transfer in other unit of that specific organization in Faisalabad. Now I have to deviate from my smooth career path. I have left many opportunities offered by organization. I dont want to become as part of top management because I dont want to bear burden of work more it may cause to disturb my family. Merging work and family system: As research evidence showed that professional working mothers have much feelings of motherhood and as well they had identified the need to come in professional fields. Women have to leave the job due to negative spillover of work and family roles; they have to leave their jobs (Glass Estes, 1997). There is high importance for them to merge work within their family systems. As indicated before that two most prevalent family systems are joint and nuclear. Professional working females, as part of joint system, pointed that this type of family system showed cooperation with them in their career path. I have been working from fourteen years. I have never felt any type of problem regarding my child care. I leave my children at home and their grandmother takes care of them in a best manner. My children are more confident and bold as compared to my relatives whose mothers are not working. Whenever I go home after completion of job, the happy faces of my children make me fresh. All credit goes to my mother-in-law. I love her. I dont have any problem regarding my children care. I never felt any need of child care center here because our joint family system is the best alternative of such day care centers. I may never feel confidence over the servants and maids as I have trust in my in-laws. Some women indicated that they had to suffer due to joint family system because of the burden of extra responsibilities and domestic duties. Joint family system hinders smooth career path of professional working women. Due to a large amount of domestic responsibilities I lost many opportunities. Financial expenses also increases and I have to give a big portion of my salary to my in-laws. Respondents who lived in nuclear family system mentioned a lot of problems regarding their work and family integration. They mentioned problems regarding their child care and to perform a lot of domestic duties by selves. Working women needed a cooperative spouse. I have to ignore my children when I come to work. I forget work when I reach at home. I wish to have a joint family system at least my children may be in a position to get safety and security because I cant rely on maids. My husbands career is very important and he cannot take leave for children. It is also evident that the working mothers, who lived in a nuclear system, didnt compromise on their careers. They didnt have any responsibilities and bounding from other family members. They indicated much satisfaction because they didnt need to answer anybody. I am thankful to God that I live in nuclear family system, I am very happy in my paradise where there is no interference from typical mother, father, sister and brother in-laws. I am not answerable in front of anybody regarding my actions except my cooperative husband. Support from partner/ spouses were identified as a key element for professional working mothers. A researcher woman pointed that she was nothing without the support from her husband because a supportive husband shared the domestic roles as well. Today I am here due to my husbands support. During my child bearing period I did my Ph.D. related to my field. I did work at home and my husband made it possible to examine my work from my supervisor consecutively. My husband is very cooperative in building my career. Even he does cooking if I am not there. It was reported by all participants that they may only continue their career if support from their families were there. Joint family system was supportive for family emergency time and children care. Research indicated those women who fell under the category of nuclear family system, pointed that they were nothing without their husbands support. Because there was no one at home, work as helping hand in spite of their spouses. Integration of work, family and personal self: Increasing trend of working mothers from the last decade indicated that women were in their mid-career. There felt a need to manage work family and personal selves. But respondent showed that this stage of mid-career they fully focused towards family and work and had forgotten themselves, which is supported by following statement of a gynecologist; Work and family come at first. My profession does not let me to ignore it. I have to remain alert at all times. In such case I find no time for myself. Last day I came to workplace and my coworkers pointed that I was wearing shirt from the wrong side. The participant women showed that they are trying for their values in their lives because at this time of mid-career the financial issues were almost solved and compensation plans are not enough. Their children have also grown up and care for children become easier. The women at their mid-career seek purpose of their lives, their needs are changing. They mentioned that they had past a lot of time with their work and family now they feel need for self care. The following statement proves these views: In the start, my husbands salary was very low, unable to fulfill our financial expenses; I pursued myself towards my career as right hand of my husband. That was tough time when my children required time from my side. But now I have no problem regarding children care or any financial issue. Its now time to focus on me. In summarized form, it is proved from the findings of the whole study that working professional mothers interplay the roles of work and family along with individual selves. Family balance is achieved through the potential, appropriate plan, family system, and workplace flexibility and a network of support. Large proportion of respondents perceived that joint family system helped them for fulfilling career and a sense of achievement. In the start career the most portion of the time, they devoted for work and family. But now in mid-career, self-balance gained a lot of importance. Discussion and conclusion This study explored the experiences of mid-career professional working mothers constructing integration between work, family and selves in the context of Faisalabad, Pakistan. It is examined that how family systems included joint and nuclear, affect them and their career. How these professional working mothers made integration in spite of lot of challenges and what support they require from family system. The lives of professional working mothers are very crucial. They need to run their family and children as number one priority along with significant concern for their career. Mid-career professional working mothers experienced a long time period of time for their work. They created quality in their work, which motivated them for the self-fulfillment. According to Warner and Hausdorf (2009) work-family support negatively affects the individuals stress and leads to satisfaction in different aspects of life, family as well as the job while enhancing more commitment towards their workpl ace. Thats why working professional mothers leads towards the sense of achievement. Now organizations are struggling to better understand the factors, affect the fulfillment of this ever-growing demographic type of mid-career who is filled with intelligence and experience (Ellen R. Auster and Karen L. Ekstein, 2004). The existence of flexible working conditions and flexible working hours are reported as favorable for the working mothers. Schedule flexibility is a boundary-spanning resource that helps workers accomplish both their work and family responsibilities (Carlson, Grzywacz Kacmar, 2010, p. 331). Organizational policies are required to include flex options, for professional working mothers. Women and men particularly who are married, as c