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.