Porters Five Forces Model of Mr. Empanada Essay Example | Topics and Well Written Essays - 250 words

Doormen Five Forces Model of Mr. Empanada - Essay Example The eatery s are limited in the way in which they procure their crude materials. They can't search for less expensive other options and this may influence the manner in which they rival different players in the market. The way that the franchisee can just utilize the items gave by the partners makes it difficult to separate their items so as to meet the various customers’ needs. They are consequently confined to the fragment of clients that they serve. The franchisee likewise have a joint ad with the offshoots. This has expanded the expense of creation for the eateries. Another power that may influence the organization is the work power. As of now, the organization is driven by relatives and this has limited force battles. Nonetheless, as the organization develops and there is have to grow the workforce, this will accompany difficulties from the laborers, for example, expanded wages. The organization will at that point need to manage issues of drafting reasonable compensation and compensation bundle for her laborers at the unique

Business Process and Technology Alignment †Free Samples to Students

Question: Examine about the Business Process and Technology Alignment. Answer: Presentation With the ramified monetary changes and complex business structure, every single association is maintaining its business viably to meet their targets and objectives. In this examination paper, Rio Tinto Company has been thought about. . It is an Australian-British organization otherwise called one of the universes biggest metals and mining enterprises. This organization is occupied with giving the mining related works the world over to expand its turnover. Nonetheless, due to the non-successful correspondence channel, it has confronted different basic issues in its marketable strategies and correspondence channel. Moreover, the board division of the organization has passed the proposition to embrace the digital registering ventures assets arranging in its business working. It will support representatives and the board division to speak with one another. It is assessed that merchants of the association faces a few issues in the gracefully chain the board program and strategic works. In this way, by embracing appropriate digital figuring undertakings assets arranging in its business working will unquestionably build the general results of the Rio Tinto business. With the ramified changes in business working of Rio Tinto, it should be proactive before actualizing new digital registering endeavors assets arranging in its worth chain exercises. What's more, merchants and other could likewise follow robotized digital figuring undertakings assets arranging in their correspondence channel to play out their alloted works. There are a few advantages which will be considered such to be foundation of mechanization in business, lessen the mind boggling business structure, set new business structure and rebuilding of business. This examination paper center what kinds of issues and issues will be looked by Rio Tinto while receiving new digital figuring endeavors assets arranging in its worth chain exercises. In any case, need to embrace this new digital processing endeavors assets arranging in business of Rio Tinto emerges because of its less successful interior control framework and expanded cost happened from recitative business working. In this manner , Rio Tinto by receiving legitimate digital registering undertakings assets arranging in its worth chain exercises in its business could without much of a stretch increment the general result of the business and set up robotization in its business working. Research questions What is the centrality of embracing the digital figuring endeavors assets arranging in business? How Rio Tinto could expand the business productivity by receiving digital figuring endeavors assets arranging in its worth chain exercises? What are the systems and business issues which would be looked by associations before introducing digital registering endeavors assets Hypothetical structures It is assessed that because of the unpredictable business structure and expanded needs of reception of the digital processing undertakings assets arranging in business, Rio Tinto should utilize this digital registering framework in its worth chain exercises. It will expand the general profitability and successful correspondence in the matter of Rio Tinto. It is assessed that customers in Australia and other current nations are progressively disposed towards the associations that have embraced the trend setting innovations in their business. Rio Tinto has solid brand picture and so as to keep its maintainable business, it ought to embrace recently received digital figuring ventures assets arranging in its worth chain exercises. This will set up mechanization in business and increment the general results of the association. The primary advantage will be identified with speaking with the sellers and executing strategic gracefully chain with pariahs. This beneath given graph will mirrors the real procedure framework which Rio Tinto will trail receiving the digital processing undertakings assets arranging in its business (Rizzo, van Erp, Troncy, 2014). It is assessed that effective usage of digital figuring endeavors assets arranging in its worth chain exercises require appraisal of the inner and outside variables of the business. It is viewed as that Rio Tinto has confronted high measure of misfortune in its business because of no time conveyance of its crude material in its business. Likewise, correspondence channel and open connection of the Rio Tinto is additionally not so powerful. It has expanded its business working expense and expanded the unpredictable arrangement of exercises. Rio Tinto by receiving this legitimate degree of digital registering undertakings assets arranging in its worth chain exercises could set up mechanization and moderate different manual works. It won't just spare the hour of the procedure working yet in addition decrease the expense of the creation of the business (Ram Corkindale, 2014). This new Cyber registering framework ventures assets arranging is comprised of the web program which will help organization to expand its correspondence compelling and increment the general results of the business. For example, undertakings assets arranging joined by the digital processing will help Rio Tinto to produce a robotization direct in its business. It will permit providers to distinguish the Economy request amount of the business at which it could permit business. It has been seen that on the off chance that Rio Tinto use digital framework, at that point it will spare the time and cost of the business. Another model is identified with merchants business working. Rio Tinto by embracing endeavors assets arranging joined by the digital registering could build up dashboard for its business. This dashboard instrument will permit providers to make their own username and login ID which will be utilized by providers to gracefully required mining crude material to Rio Tinto. Notwith standing, mining crude material requests will be put by the Rio Tinto naturally when organization arrives at the financial request amount. This undertakings assets arranging joined by the digital registering grandstands how organization could build up robotization in business and increment the business proficiency in decided methodology (Fink, 2013). It is assessed that Rio Tinto could make center competency in showcase by utilizing digital figuring endeavors assets arranging. It is assessed that the primary results of utilizing digital figuring undertakings assets arranging in business of Rio Tinto would be identified with making center competency in this mining industry. Rio Tinto could expand the general profitability and productivity of business by utilizing this digital figuring undertakings assets arranging in business. This will build up mechanization in the worth chain exercises and will result to spare in time and cost of the business. It is viewed as that the procedure mining framework which interfaces all the merchants and partner with the association will likewise be solid in the wake of receiving increment the business productivity by embracing digital figuring undertakings assets arranging (Erickson, 2005). This framework will help Rio Tinto to expand its profitability and effectiveness of the business. It will buil d the general profitability and effectiveness of the business. It is assessed that this digital processing framework will be introduced in esteem chain exercises of Rio Tinto and all the workers needs to adjust with the recently propelled arrangement of the business. This will requires preparing and advancement program of the business which will make representatives progressively employable. Organization needs to recruit more specialists representatives in the business before putting in new digital figuring framework in business. Methodologies and long haul designs in Rio Tinto will be taken by the administration division. So as to build the viability of digital processing arrangement of the Rio Tinto will be finished by going into key coalition with different associations. It is assessed that Rio Tinto has its business chain the world over and by embracing digital processing endeavors assets arranging it could set up appropriate degree of nexus between its all worth chains. It will help the board office to order the entirety of its units under one reconnaissance channel (Thomson Singh, (2011). This one framework will expand the profitability of all the division of the Rio Tinto and set up powerful degree of nexus among all the units. This digital figuring framework will make web mail chain which will build up nexus for the whole division to speak with one another. In any case, this digital figuring framework will be joined by high measure of cost of interest in the underlying time which is introductory expen se. There are a few components which will influence the choices to embrace the digital processing endeavors assets arranging in business, for example, existing contribution of adversaries, advancements received by association and proposed strategies of association. This data could be removed from the yearly report of organization. Consequently, it could be induced that Rio Tinto should utilize PESTLE examination, SWOT investigation and equalization score card approach before actualizing the successful key marketable strategies. These procedures and field-tested strategies will help business association to assess the key business elements of business to distinguish the key components of business. These key marketable strategies will most likely exhibit the most ideal way and moderate the issues related with selection of digital registering undertakings assets arranging in business. Accordingly, it is clear to comprehend that Rio Tinto could utilize this PESTLE investigation, SWOT exa mination and equalization score card approach for taking vital business choice. These key instruments help Rio Tinto to distinguish all the inside and outer elements of the business. This will help organization to get ready appropriate degree of vital plans in business. It is seen that introducing digital figuring ventures assets arranging is identified with key collusion with different associations. It is assessed that most o

The Pfizer Company Business Model

List of chapters Customer esteem Capabilities Sustainability Conclusion Works Cited Customer esteem The worth the organization connects to its clients added to its flourishing into spotlight of medication business in the year 1941. This was because of the large scale manufacturing of penicillin which spared numerous lives during the World War II. This was afterwards trailed by the production of Viagra. Promoting We will compose a custom article test on The Pfizer Company Business Model explicitly for you for just $16.05 $11/page Learn More Before the firm evolved Viagra, it needed to make around 1,500 synthetic concoctions, tried their viability when contrasted with past medications lastly screened them to think of the best quality for the shoppers (Magretta 3-8). The firm likewise went similarly as looking into to discover which of the age bunches experienced most the erectile brokenness (Hedman). The Viagra innovation had the capacity to cause erections just during sexual incitemen t. This was in opposition to other infusion treatments gave by different organizations which on occasion prompted the patient to delayed erections, making the patient awkward. Henceforth, the development of Viagra was such a great amount of urging to the buyers who communicated their ability to proceed with the treatment as it fulfilled their desires. The firm had an expressed most extreme solution for every patient determined to have erectile brokenness, this guaranteed repayment of up to 6 tablets for every month for every patient 18 years or more. The arrangement guaranteed that purchasers were shielded from any type of abuse of the medications and risk (Mahadavan 4).The utilization of Viagra was dropped from the models since it got one of the way of life drugs. This helped dominant part to cut on Medicaid costs. The presentation of online deals made it workable for the organization to reach such a large number of clients inside the most limited time conceivable. This aided in ex panding the incomes of the firm; this incorporated the counsel and the transportation charge offered by the organization which was averagely $ 715 for one year flexibly (Magretta 3-8). Capacities The Pfizer firm recorded the most elevated profit development in the Pharmaceutical business, which was appraised at 25% somewhere in the range of 2000 and 2002. This development rate was credited to the solid medication pipeline and its strength in blockbuster drugs. The firm additionally had the least hazard when it went to the piece of the overall industry misfortune from the medications when contrasted with other pharmaceutical firms. This was because of the way that the greater part of its pharmaceutical deals were given to nonexclusive cannibalization before 2005. The firm’s ability to build its innovative work costs saw it adventure into new field of medication. This empowered the firm to create new pharmaceutical medications and furthermore open numerous operational offices e verywhere throughout the world (Army).Advertising Looking for exposition on business financial matters? We should check whether we can support you! Get your first paper with 15% OFF Learn More For the Pfizer firm to beat the contenders they left on ceaseless propelling of new items and forcefully obtaining the most ideal procedures. They purchased sedate producer organizations and furthermore wandered into the shopper items, purchased organizations that delivered clinic related items. The organization additionally stretched out a greeting hand to other related organizations which saw it converge with some famous organizations like Warner-Lambert. The organization wandered in the offer of the brand name from its working gatherings to the buyers. The brand name bunches included Animal Health Group and Consumer Health care. These brand names made the organization to be known as one which improved the wellbeing of people as well as of domesticated animals, thus turned out to be famous t o the customers (Porter 62-78). The presentation of the web empowers the firm to reach such huge numbers of organizations at some random time. It likewise improves the contriving of the systems since the advancement of different firms can undoubtedly be observed from the web. It has empowered worldwide extension of the organization (Stabell 413). Supportability For food purposes the firm contributed vigorously on the innovative work, half of the representatives of the organization taken to the area managing innovative work. The blend on the work power was likewise a contributing component, which includes the British and the Americans (Sandberg 3). The firm plans on leading progressively clinical preliminaries on Viagra when contrasted with its rivals. This made it to augment its market base since the vast majority of the patients returned with positive outcomes. The firm additionally conveyed a decent number of salesmen to that went direct to the specialists, who in the long run end orsed the medication to the patients (Army). The firm uses the Direct-to-Consumer Advertising which guarantees that patients are refreshed on new clinical medications, right medicines and furthermore permits them to talk about their wellbeing conditions with their doctors. The organization likewise centered around bringing issues to light on how significant men’s wellbeing was to them (Porter 62). They utilized the brand name that made such a significant number of distinguish themselves with the brand for example such huge numbers of became brand faithful to the organization. The firm went through such a lot of cash in ad on clinical diaries, gatherings and occasions that were for the most part gone to by the doctors. These limited time exercises guaranteed some expansion in income with the Direct-to-client contributing around 16% in the year 2000. The utilization of the web uncovered the organizations insider facts to the contenders thus considered undependable at all for ma nageability purposes (Porter 78).Advertising We will compose a custom paper test on The Pfizer Company Business Model explicitly for you for just $16.05 $11/page Learn More Conclusion The plan of action shows obviously the degree of rivalry of the organization, it uncovers whether the organization is the most cost-productive organization in the business or not. The plan of action ought to be comprehended on the grounds that it gives striking data about the market and can be utilized by speculators and budgetary examiners. Works Cited Army, Barret. â€Å"The recipe at Pfizer. Don’t run with the crowd†. Business week may 11, 1998. Hedman, Thomas. â€Å"The Business Model: A Means to Understand the Business Context of Information and Communication Technology†. Organization of Economic Research Working Paper Series, School of Economics and Management, Lund University 2001. Magretta, Joan. â€Å"Why Business Models Matter,† Harvard Business Review, May 2002: 3 -8. Mahadevan. â€Å"Business Models for Internet-Based E-Commerce,† California Management Review, Vol. 42, summer 2000: 4 Porter, Michael. â€Å"Strategy and the Internet,† Harvard Business Review, March 2001: 62-78. Sandberg. Is it an opportunity to exchange your plan of action? Harvard Management Update, January, 2002: 3-5.Advertising Searching for exposition on business financial aspects? We should check whether we can support you! Get your first paper with 15% OFF Find out More Stabell, Fjeldstad. â€Å"Configuring esteem for upper hand: On chains, shops and networks†. Key Management Journal, Vol. 19, 1998: 413â€437. Timmers, Paul. â€Å"Business Models for Electronic Markets,† Electronic Markets, ol. 8, No. 2, 1998: 3-8 This exposition on The Pfizer Company Business Model was composed and presented by client Maurice A. to help you with your own examinations. You are allowed to utilize it for research and reference purposes so as to compose your own paper; be that as it may, you should refer to it as needs be. You can give your paper here.

Impact Of Financial Crisis On Bank In Bahrain Finance Essay - Free Essay Example

The main purpose of the study is to understand the problems faced by bank in Bahrain as a result of the financial crisis. After a lasting time of instability, the global economy finally started to stabilize in 2009 with the assistance of a considerable amount of intervention from the public which resulted in a mount in output and financial market bounce back amidst superior levels of confidence and certainty. All through 2009, world output decreased by 0.6% and was predicted to pick up during 2010 to 2.3% and developing economies by 6.3%. With inflation issues controlled and commodity prices rebounding from the previous low levels, the globe recovery was expected to continue in 2010, even though at varying speeds around regions. During 2009, inflation for highly developed economies recorded a minor 0.1% growth, in spite of slack monetary policy and near zero interest rates. Consumer prices in emerging and developing markets had an inflation of 5.2% during the same year (2009). Background of the study: The impacts of the financial crisis on the Bahraini economy were more visible in 2009. The GDP recorded negative growth. Moreover, real GDP growth decreased to half the rate attained in 2008. On the other hand, in real terms, GDP sustained to rise during 2009, even though at half the speed compared with 2008. Real GDP recorded a growth rate of 3.1% back in 2009, down all the way from 6.3% in 2008. Regardless of the slowdown in the financial sector, it remains one of the largest single contributors to GDP. By the end of the year 2009, the financial sector accounted for 25.1% of real GDP, down from 26.6% in 2008. As a result of the intervention procedures taken by the authorities to sustain growth, the overall fiscal balance of the GCC countries reduced rapidly during 2009 to achieve an estimated 5.3% of GDP. barrel in 2010.Statement of the problem: The motto of the study is to understand the impact of global financial crisis on Bahrain banks. This can be understood from the answer to three key questions: What impact did the bank face due to the crisis? How is it affected their investor base? What are the steps taken to ensure stability during such crisis? Definition of the problem: Global crisis began in the late 2008 owing to drastic rise in the defaulter numbers to housing loans in US. This shattered economies everywhere as investors in housing and real sector found their land values depreciating due to the depreciation of dollar. In order to clear debts, many companies were granted aid which finally resulted in banks requiring bailout from the crisis. On the contrary very few economies survived the crisis with proper hedging of funds via bonds, shares, debentures, etc. Hypothesis of the study: The study will help analyze the steps to be taken in order to withstand and ensure stability in times of crisis in Bahrain banks. Significance of the study: The study is essential in the face of global crisis which had doomed many companies and moreover banks too. Bank in Bahrain too did not miss to be a target of this crisis. By the end of 2009 fiscal, the bank had been exposed to various challenges of crisis like drying up of credit, drastic fall in its corporate earnings and moreover failure to lure investors out of their market owing to price volatility after the dollar depreciation. The bank however worked on its strategies for crisis like focusing on matching its liabilities to maturity profile of assets thereby protecting their balance sheets. The bank moreover started supporting the financing needs of the portfolio owing to banks pulling out from the system. Major factors that act as an immunity in times of crisis include proper governance, timely action to identify defaulters and effective tactics to identify genuine investors. The strategies used by banks in their core areas to fight crisis gives an idea as to how to tackle the crisis challenges. In 2009, the financial sector sustains to be the major contributor to Bahrains economy, accounting for 25.1% of real GDP. The total assets of retail banks stood at BD 22.5 billion as at 31 of December of the same year. Total outstanding credit facilities enlarged by retail banks to the diverse sectors of the domestic economy continued to be stable and amounted to BD 5,884.9m at end-2009, compared to BD 5,887.6 million at end-2008. Even without the financial crisis, the real estate and construction sector remained embarked on and persisted many projects with a total of 9,928 construction permits issued in the same year. Several real estate projects continued to grow in 2009 Diyar Al Muharraq, Amwaj Islands and Durrat Al Bahrain. The root for all these success in handling the crisis can be attributed to the carefully cultivated corporate culture that supports teams to work with quality, dedication, innovative thinking and coordinated decision-making. This has helped the bank to develop and maintain a conservative capital thereby helping mitigating risks. Scope and limitations: A major part of the study was based on the strategies to be undertaken in the wake of economic crisis. The strategies used by few banks are also applicable to other banks. Moreover effective co-ordination among investors and employees help ensure stability in operations. The study also focuses on strategies focused by banks on each of its diverse business areas with the advantage of giving diverse investment options to customers. Major limitation included considering only bank in Bahrain for the impact of global crisis on banks in Bahrain. Another limitation is the timing. The researcher has limited time to fulfill this research and deliver it to the course mentor to pass the requirement of the degree. Hence the researcher will try to get as much related data as possible. 2 Chapter Literature Reviews 1. Indirection: 1.1 History of banking and its growth: Kiyotaki and Moor (1997), and Bernanke, Gertler and Gilchrist (1999) introduce financial frictions into business cycle models. Thus, we had the models which help us understand the financial frictions on just non financial institutions. Later, Albuquerque and Hopenhaya (2004), Alvarez and Jermann (2000), Jerman and Quadrini (2011) and Miao and Wang ( 2011 a,b,c) introduced a model to introduce financial frictions into the banking sector in the form of endogenous borrowing constraints or Islamic banking and financing. According to John F. Dix (July, 2009), there is no debate that the current troubled economic conditions were in large part caused by taking unreasonable and undefined risks. The role of excessive risk and the consequences that behavior caused has likely resulted in management taking a new and perhaps leery view of undertaking opportunities that are at all risky. Following are some thoughts concerning approaches to risk taking that allows risks to be taken with the assurance that the consequences are not fatal to the company and that an atmosphere of reasonable risk taking is indeed encouraged among the managers of the company. When these two conditions are imbedded in the culture of the company then risk taking becomes a powerful tool for growth and leadership. Therefore in our model household put deposits in a bank and deposits become liabilities of the bank. Now if the bank chooses to default, then the depositors can seize a fraction of bank capital. Instead of liquidating seized bank capital, deposit repayments. The threat value to depositors is the stock market value of the bank with seized bank capital. 1.2 Background of the financial crisis: The existing financial crisis faced by the banks is proving a challenge to the macroeconomists. Actually the traditional macroeconomists believed in the perfect market situation and did not recognize the financial frictions as observed in the last decade. Therefore the traditional models are not so helpful in understanding the present day financial crisis which has resulted in the fall of great economies of the world, especially the European countries. The fall of the global banks like Lehman brothers, Franklin Templeton and Barclay, followed by the fall of economies of Greece, Portugal, Cyprus, Spain Slovenia, Italy, Ireland, Slovakia, Malta, Belgium and now France, Austria and Germany joining the show. 1.3 How the financial crisis affected the banks performance: As in Kocherlakota (2009), and Miao and Wang (2011a), we construct a third type of equilibrium in which households believe that banking bubbles may burst in the future with some probability. We show that even though there is no shock to the fundamentals of the economy, changes in confidence trigger a financial crisis. We show that immediately following the collapse of the banking bubble, deposit shrink, lending falls and credit spreads rise, causing real investment and output to fall. Following Gertler and Karadi (2011) and Gertler and Kiyotaki (2010), we model this inefficiency as a deadweight loss of output. We also follow their studies and assume that the size of direct lending responds to credit spreads according to a feedback rule. In our model, credit spreads rise sharply at the onset of a crisis. The central bank then injects credit in response to movements in credit spreads, according to the feedback rule. We show that this credit policy can mitigate economic downturns. The net effect on welfare trades between this benefit and efficiency costs. 1.4 Effects of the financial crisis on Bahrain: Bahrain is a small island-kingdom in the Middle East. Beside the oil and gas sector, the financial services sector is among the highest contributors to the countrys overall GDP. According to the Central Bank of Bahrains (CBB) annual report 2011, the sector contributed 25% to GDP of the country in 2010. Up to June 2011, the number of financial institutions in the country is 411 and the total financial sector workforce is 14,137. The banking system in the Kingdom of Bahrain is considered as being the largest component of the financial system. Bahrains banking sector has remained to be a cornerstone for growth of the domestic economy. The banking sector represents over 85% of total financial assets (El-Quqa et.al, 2007). Furthermore, the banking system compromises both Conventional and Islamic banks. The Conventional sector includes retails banks, specialized banks, wholesale banks and representative offices of overseas banks. On the other hand, the Islamic sector consists of retail banks and wholesale banks which offer as host of Sharia compliant products and services. The sole regulator for financial system in Bahrain is the CBB. Up to December 2010, there are 6 Islamic retail banks and 18 Islamic wholesale banks operating in the kingdom (Hidayat, 2010). The high numbers of Islamic banks shows high profile of the country as the leading Islamic financial center in the region. In 2011, Islamic banks accounted for around 12% of Bahrains banking sector (Winton, 2011) 1.5 Financial performance of Banks: Bank capital requirements ensure that banks are not participating or holding investments that increase the risk of default and that they have enough capital to sustain operating losses while still honoring deposit withdrawals. In our model, there is no uncertainty about fundaments and hence there is no issue of risk-taking behavior. However, it should be kept in mind that the bank is an Islamic bank, and in Islamic financing the real-estates are vital investment instruments which underlay an inherent Shin (2012) and Bruno and Shin (2012) focus on the role played by large European banks. These banks are not only systemically important. These studies allude to three factors that fueled a lending boom accompanied by greater risk taking. The factors are easy monetary policy that lowers funding costs for banks, adoption of a regulatory structure that allows higher leverage, and an asset price boom and real appreciation of the currency that strengthens the balance sheet position of borrowers. Evidence for this for funding is provided by Baba, McCauley, and Ramaswamy (2009), who find that by mid-2008, justbefore the collapse of Lehman Brothers, over 40 percent of the assets of U.S. prime money market funds were short-term obligations of foreign banks, with obligations of global European banks representing the largest share. Pornrojnangkool (2009), Hellman, Lindsey and Puri (2008), and Uchida, Udell and Yamori (2008)], and the borrowers choice of debt and lenders [e.g. Kwan and Carleton (2009)], there are relatively few studies on the effects of the lenders financial conditions on loan pricing. Berger and Udell (2004) used the same kind of data as in this paper to link portfolio performance to the tightening of bank credit standards and lending volumes, referring to their findings as the institutional memory hypothesis. Murfin (2009) studied the supply-side effects on loan covenants and found evidence that banks wrote tighter loan contracts than their peers after suffering defaults to their own portfolios, even when defaulting borrowers were in different industries and geographic regions than current borrowers. For modern crises, the practical problem is that understanding crises by outsiders relies on observed events such as firm failures or government actions, and government statistics. This problem is manifest in defining and dating crises. In the modern era the determination of whether an event is a crisis and when it starts and ends, is based on governments actions because these are readily observable. Boyd, De Nicol and Loukoianova (2011) study the four leading classifications and dating of modern crisis events.ÂÂ  They show that for many crises the dating of the start and end dates differ quite significantly.ÂÂ  There is also some disagreement on which events are crises. Further, they show that the start dates are late.ÂÂ  This is because the government actions follow the crisis which has already begun, often in the form of a quiet run (Gorton (2012). The dating of the start and the end of a crisis is largely based on contemporary accounts of the crisis, and there is ambiguity 2. Financial performance of Banks: 2.1 How they measured performance: Bank capital requirements ensure that banks are not participating or holding investments that increase the risk of default and that they have enough capital to sustain operating losses while still honoring deposit withdrawals. In our model, there is no uncertainty about fundaments and hence there is no issue of risk-taking behavior. However, it should be kept in mind that the bank is an Islamic bank, and in Islamic financing the real-estates are vital investment instruments which underlay an inherent Shin (2012) and Bruno and Shin (2012) focus on the role played by large European banks. These banks are not only systemically important. These studies allude to three factors that fueled a lending boom accompanied by greater risk taking. The factors are easy monetary policy that lowers funding costs for banks, adoption of a regulatory structure that allows higher leverage, and an asset price boom and real appreciation of the currency that strengthens the balance sheet position of borrowers. Evidence for this for funding is provided by Baba, McCauley, and Ramaswamy (2009), who found that by mid-2008,justbefore the collapse of Lehman Brothers, over 40 percent of the assets of U.S. prime money market funds were short-term obligations of foreign banks, with obligations of global European banks representing the largest share. Pornrojnangkool (2009), Hellman, Lindsey and Puri (2008), and Uchida, Udell and Yamori (2008)], and the borrowers choice of debt and lenders [e.g. Kwan and Carleton (2009)], there are relatively few studies on the effects of the lenders financial conditions on loan pricing. Berger and Udell (2004) used the same kind of data as in this paper to link portfolio performance to the tightening of bank credit standards and lending volumes, referring to their findings as the institutional memory hypothesis. Murfin (2009) studied the supply-side effects on loan covenants and found evidence that banks wrote tighter loan contracts than their peers after suffering defaults to their own portfolios, even when defaulting borrowers were in different industries and geographic regions than current borrowers. For modern crises, the practical problem is that understanding crises by outsiders relies on observed events such as firm failures or government actions, and government statistics. This problem is manifest in defining and dating crises. In the modern era the determination of whether an event is a crisis and when it starts and ends, is based on governments actions because these are readily observable. Boyd, De Nicol and Loukoianova (2011) study the four leading classifications and dating of modern crisis events.ÂÂ  They show that for many crises the dating of the start and end dates differ quite significantly.ÂÂ  There is also some disagreement on which events are crises. Further, they show that the start dates are late.ÂÂ  This is because the government actions follow the crisis which has already begun, often in the form of a quiet run (Gorton (2012). The dating of the start and the end of a crisis is largely based on contemporary accounts of the crisis, and there is ambiguity 3. Impact of financial crisis on bank performance: The central irony of the governance failures of 2007-2008 was that many took place in some of the most sophisticated banks operating in some of the most developed governance environments in the world. A number of countries in different continent faced debt crisis. The examples of failures of major financial institutions in different continents and countries include the followings. Europe United Kingdom: United States: The major reasons that were concluded as the cause of such failure and crisis are categorized as follows. Risk Governance. Incapability of many boards to posess a comprehensive understanding. Senior management failure to adopt the necessary part in the report. Risk management is done in a visible manner. Remuneration and alignment of incentive structures. A good governance practice requires the alignment of executives and board renumeration with the long term interest of the company. This will decrease skepticism of the companies over incentive system and compensation. Broad independence, qualifications, and composition. Ensuring broad terms objectives with goal of preserving a balance of power will certainly help in productive tension among the board of directors. Thus after decreasing in productive tension, the ability to react the rising risk increases. Shareholder engagement. The right to appoint directors and to make key corporate decisions inform their decision making and prevent management from taking such decisions. 3. Studies and discussions: 3.1 Related Studies Kassim and Majid, (2010) conduct a study aimed to arrive at empirical evidences on the impact of financial shocks (the 1997 and the 2007 financial crises) on the Islamic banks vis-a-vis the conventional banks in Malaysia. The study finds mixed evidences on the impact of the macroeconomic shocks on the Islamic and conventional banks. While the results based on the descriptive statistics indicate that the Islamic banks are relatively resilient to the financial shocks, the results based on the more robust econometric analysis reveal otherwise. The results based on the IRF analysis show that the Islamic financing responded significantly to macroeconomic shocks in non-crisis and 2007 crisis periods. The VDA results suggest that both Islamic and conventional banks are vulnerable to financial shocks. Hassan and Dridi (2010) compare the performance of Islamic banks (IBs) and conventional banks (CBs) during the recent global crisis by looking at the impact of the crisis on profitability, credit and asset growth, and external ratings in a group of countries where the two types of banks have significant market share. The study suggests that IBs have been affected differently than CBs. Factors related to IBsbusiness model helped limit the adverse impact on profitability in 2008, while weaknesses in risk management practices in some IBs led to a larger decline in profitability in 2009 compared to CBs. IBs credit and asset growth performed better than did that of CBs in 2008-09, contributing to financial and economic stability. External rating agencies-assessment risk was generally more favorable.ÂÂ   Beck et al (2010) compare the performance of conventional and Islamic banks during the recent global crisis by looking at the impact of the crisis on business orientation, efficiency, asset quality, and stability in countries with data on at least four banks. The study suggests that Islamic banks seem more cost-effective than conventional banks in a broad cross-country sample. On the other hand, conventional banks seem more cost-effective than Islamic banks in a sample of countries with both Islamic and conventional banks. However, conventional banks that operate in countries with a higher market share of Islamic banks are more cost-effective but less stable. There is also consistent evidence of higher capitalization of Islamic banks and this capital cushion plus higher liquidity reserves explain the relatively better performance of Islamic banks during the recent crisis. Haron (2004) found that expenditures (expenses) and profitability measures have a positive relationship. The study also suggests that size of the Islamic banks only had a significant positive relationship with one of performance indicators but was not significant with other profitability measures. Burhonov (2006) found unclear relationship between short-term funding to the profitability indicators. The regression results also show that the impact of macroeconomic variables, GDP per capita on the profitability measures is not conclusive. Alkassim (2007) finds that ROA for Islamic banks in GCC has positive coefficients with total assets and total expenses. Zantioti (2009) found that equity/total assets and GDP per capita statistically give positive significant impacts on Islamic bank profitability. Thus the three important authors and their works and views can be shown in the following table. Name of Author Measurement of Performance Findings Results Kassim and Majid, (2010) Conduct a study aimed to arrive at empirical evidences on the impact of financial shocks (the 1997 and the 2007 financial crises) on the Islamic banks vis-a-vis the conventional banks in Malaysia. The study finds mixed evidences on the impact of the macroeconomic shocks on the Islamic and conventional banks The results based on the IRF analysis show that the Islamic financing responded significantly to macroeconomic shocks in non-crisis and 2007 crisis periods. The VDA results suggest that both Islamic and conventional banks are vulnerable to financial shocks. Hassan and Dridi (2010) Compared the performance of Islamic banks (IBs) and conventional banks (CBs) during the recent global crisis by looking at the impact of the crisis on profitability, credit and asset growth, and external ratings in a group of countries where the two types of banks have significant market share. The study suggests that IBs have been affected differently than CBs. Factors related to IBsbusiness model helped limit the adverse impact on profitability in 2008, while weaknesses in risk management practices in some IBs led to a larger decline in profitability in 2009 compared to CBs. IBs credit and asset growth performed better than did that of CBs in 2008-09, contributing to financial and economic stability. Beck et al (2010) Compare the performance of conventional and Islamic banks during the recent global crisis by looking at the impact of the crisis on business orientation, efficiency, asset quality, and stability in countries with data on at least four banks. The study suggests that IBs have been affected differently than CBs. Factors related to IBsbusiness model helped limit the adverse impact on profitability in 2008, while weaknesses in risk management practices in some IBs led to a larger decline in profitability in 2009 compared to CBs. IBs credit and asset growth performed better than did that of CBs in 2008-09, contributing to financial and economic stability. External rating agencies-assessment risk was generally more favorable. 3.2 Discussion: Creating Responsible Financial Markets The steps to control such as situation were taken as follows. Interventions made by state owned financial institutions. Disclosure and transparency. Redefining shareholders rights and responsibilities. Other suggestions given by the experts to avoid such a situation in future include the followings. The requirement of accountable capitalism. Adding vertical regulations. Considering new approach to regulations. Formation of IOSCO (Global organization of securities.) Thus a formal strategy has been planned which includes taking the following steps. No single strategy. Identifying business characteristics and performance from time to time. Looking for cost efficiencies. Creating suitable business size. Keeping an eye on the throughput and prices. Upgrading current business strategies. Identifying the role of government in normal conditions. The ICGN agenda: core issues to address The crisis has highlighted a number of issues which are relevant to shareholders, particularly institutional shareholders, and these are areas where the ICGN will seek to engage actively in the policy debate. Below is a list of these issues and the ICGNs position on them. Strengthening shareholder rights Strengthening boards Promoting fair and transparent markets Independent accounting standards Remuneration setting Regulating credit rating agencies The corporate governance also has a vital role in overcoming the financial crisis as seen in the last decade. Restoring confidence for the future and preventing regulations will help overcome the needs of the investors and ascertain economic growth in future. This also consists of securing and maintains the rights of the shareholders and other kinds of transparency that helps in keeping a record of healthy financial position of the company, its upcoming goals and capacity to achieve them. Also the shareholders must recognize the share owners rights and responsibilities in the terms of creating a long term wealth for the shareholders and owners of the company. Conclusion: The current financial crisis has differently affected the economies of the various countries. While the capitalist and developed nations faced the financial crisis more severly. While the developing nation under control of the government governance showed lesser affect of the financial crisis. Thus its a good idea to allow the government to work as controlling agent like in China, India and other Asian countries wherein the governments were consistently and confidently trying their best to keep their economies on the right track. The final outcome is that all these countries especially the two mentioned were able to show consistent growth in the last decade while the rest of the world was facing financial crisis.

Working Partnership Essay - 615 Words

WORKING IN PARTNERSHIP 3.1 Explain why it is important to work in partnership with others. It is important that you work in partnership with all of the people surrounding the individuals that you are supporting, in order to ensure the best possible support and care are provided. This will include Carers, Families, Advocates and other people who are sometimes called â€Å"Significant Others†. In order to work well in partnership, there has to be good communication therefore you will need to have good communication skills. Other people may be able to provide useful information to support you in your work, and you may be able to find useful information to support them in being part of the individual’s life. An example might be if there are†¦show more content†¦Skills and approaches you will need for resolving conflicts are managing your stress levels, remaining calm in all situations, being aware of both verbal and non-verbal communication, by making sure you do not use any jargon and talking so everyone involved can understand you. Make sure you contro l your emotions and behaviour towards others, as aggressive behaviour can be intimidating. Avoid threatening others, pay attention to the feelings being expressed as well as the spoken words. Respect the differences of the individual, develop a readiness to forgive and forget. Have the ability to compromise, try and find a way to resolve the situation. Try to avoid making assumptions and accusations, as this can make the situation much worse. You must try not to over generalise and stick to the facts of what went on. Active listening plays a big part in trying to resolve conflict, as the person will feel that you are paying attention to them. 3.4 Explain when and how to access support and advice about: Partnership working – You will need to seek advice and support when there is a dilemma that you need help in solving. Support and advice can come from your colleagues, your supervisor/manager, external agencies i.e. Care Quality Commission, Social Services, Unions i.e. Trade Union. Carer’s Organisations such like the Health Care Professionals Council, Workforce Development Council and Sector Skills Council for Care. Resolving conflict – YouShow MoreRelatedPartnership Working Essay1600 Words   |  7 PagesPartnership working Partnership work is essential when providing person centred support and it also the only way to address some of the govements most challenging long term social objectives. 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History SBA Conditions Leading Up To The 1937 Riots

Conditions Leading up to the 1937 Riots There were many different factors which influenced the conditions in not only Barbados but across the British Caribbean which eventually led to uprisings in the various territories but namely Barbados. These factors can be broken down into 3 categories of Economic, Social and Political. Economic Factors Leading up to the riots Barbados’ economy was in a dreadful state due to many different factors, both internal and external. One of the more substantial external factors was The Great Depression of the 1930’s which originated in the United States of America but affected all the countries of the world. On October 29, 1929 the American stock market crashed and officially started The Great Depression.†¦show more content†¦Wages had some devastating effects such as malnutrition, high mortality rates and poverty. Unemployment, much like wages, was a major factor which added to the unrest of the public leading up to the riots. One of the causes for some of the unemployment was the establishment of many large modern sugar factories. These factories not only replaced windmills but with their increased efficiency reduced the harvesting period from 5 to 3 months. The period between harvesting and the start of the new season was referred to as hard time because it was ver y hard to find employment to be able to support one’s family. With these modern factories came revised methods of agriculture which meant there was less need for workers and resulted in some workers being laid off, only adding to the many unemployed people in Barbados. Unemployment left many families and individuals in a state of despair which led to lawlessness and in some instances crime. Social factors Poverty was one of the most substantial contributors to the hardships endured leading up to the riots. Much like the next domino in line, with low wages and unemployment came poverty which affected many families in Barbados in many different ways. In an attempt to escape poverty people moved to the parish of St. Michael in droves to the point where half of Barbados’ population was concentrated there. This move still did not ease their burden because there were no more

Foundation of Information System Health Information Systems

Question: Discuss about theFoundation of Information Systemfor Health Information Systems. Answer: Introduction Health information systems (HIS) are systems that collect, manage and shares health information about individuals or organizations that come under the health sector. It includes district level routine information systems, surveillance systems, patient administration systems and HRM information systems. HIS aims to use the data collected to influence policies, actions, and decision-making and health outcomes. These systems are required to be simple, and sustainable in nature, and reduce burdens from health service staff. The feedbacks from the systems are required to build capacity in the staff and help them improve the overall data quality. The information collected from the HIS betters the value and utilization of health information (Kaur Rani, 2015). Literature Review The health information industry has a long history with health information systems. The industry is in existence from the 1920s, commencing with an aim of improving standards of record management in the health sector. The management industry is still in working today, bringing in new implementation of electronic health data recording systems. The industry has a varied history of health information management and is continuously growing with bright promises for the future. In the 1920s, the health information management industry learnt the importance of documenting healthcare information of patients as well as the providers. The records set up the details, complications and results related to healthcare. The documentation process became popular nationwide and became recognized by providers as an effective way to ensure safety and quality (Ball, Weaver Kiel, 2013). The documenting methods continued until the 1920s, until the new systems were introduced in the 60s and 70s. In the 60s, the main healthcare drivers were Medicare and Medicaid. Mainframe computers and storage, and centralized processing systems were used in hospitals and medical centers. Administrative and financial systems were launched. The 70s saw the debut of minicomputers, although the mainframes were still in use. The drivers of the 60s made expenditures rise. The turnkey systems were available via vendor community. However, the systems were not interoperable. In the 80s, microcomputer s were unveiled and the healthcare software development progressed with huge leaps. Local area network made an advent and expansion of financial and clinical information systems happened. The 90s faced a drive in healthcare with an increase in competition and consolidation. Internet made an entry and hardware costs dropped. Managed care and integrated service delivery systems showed a growth (Collen, 2015). In the 2000s, more outcome-based reimbursement showed an advent and PDAs were introduced. EHR adoption was called for and HIT funding was infused. Cloud computers, big data analytics and clinical decision supports systems emerged. Current healthcare organizations are introducing more intense EHR systems. Healthcare systems were designed to computerize transactions, which led to an increase in easily accessible data and resulted in improved interoperability. Implementation of dashboard reporting also experienced a growth and they have been crucial in providing bits of information about the healthcare organizations to the management or the board or to data groups (Gagnon et al., 2012). Computerized and interoperable health information systems are implemented with an aim to improve medical support, cost effectiveness, efficiency development, error reduction and stakeholder satisfaction. At the same time, reimbursement based patient healthcare suppliers are intended to be optimized. EHR/EPR (electronic health record/electronic patient record) systems are central to health care information systems as a whole. These are a patients digitalized health record that can be utilized by healthcare suppliers and organizations. PHR or personal health records are incorporated in health information systems as self-maintained health records of individuals. HIE or health information exchange is a medical data pool or an association of healthcare providing organizations that support interoperability between different healthcare departments and facilitates data sharing among different health care information systems. These systems have been in use for the last few years and have been authorized by several healthcare service organizations. Health Telematics system were used to transfer electronic complex data from one system to another. These system mostly involves videos or multimedia files. PACS (picture archiving and communication system) is a broadly used health information system, along with VNAs (vendor neutral archives). Healthcare specialists or healthcare outlets to mange patients medical data, reports and images mostly use these technologies. Earlier, a healthcare providing organizations radiology departments were the main repositories for such kind of image files. However, VNAs and PACS are incorporating radiology in the actual healthcare organization work process, along with other departments like neurology or cardiology also experiencing a large-scale generation of clinical images and medical reports. The VNAs have been installed with an aim to merge image and media data with different departments report and image banks inside a multi-faceted health care information system. Financial and clinical systems are integrated in the health information system to manage patient costing, invoicing and payment follow-ups (Haux et al., 2013). Health information systems have led to a reduction in productivity of the physicians due to the integration of EHR systems. However, on a broader scale, large amounts of benefits can be seen. There is an increase in the usage of data analytics and big data that help in managing public health programs. There is a reduction in extreme expenses incurred in chronic health issues. In addition, there is an increased usage of cognitive computing and data analytics to carry out medicinal provisioning to every single patient. Scholars gained more ability to examine on innovative medical therapies and medicines. Patients gained the rights to access their own health records and consult with their personal physicians. However, some critical obstacles remain the industry. Like lack of interoperability and commonly agreed transactions of health information levels. Health standard developing organizations are working on that. Moreover, some vendors also create information blockages to stunt the dat a sharing in systems, and generate profits from that. In addition, the EHR systems are poorly designed - clinicians face problem in managing those and they are susceptible to cyber attacks and hacking (Basu et al., 2012). Conclusion The health information industry is still in its initial years, acting as librarians of medical records. Their goal remains the same improve and augment medical documentation levels. The industry overall has come a long way, however, their ultimate goal of achieving a properly functional EHR system is not yet fulfilled. Health care support organizations are working on pushing the industry to the heights of success and provide the stakeholders with their proper rights and services. The management is still to learn a lot on the usage of information system properly, thus conventional methods are still in use. References Ball, M., Weaver, C., Kiel, J. (Eds.). (2013).Healthcare information management systems: Cases, strategies, and solutions. Springer Science Business Media. Basu, S., Andrews, J., Kishore, S., Panjabi, R., Stuckler, D. (2012). Comparative performance of private and public healthcare systems in low-and middle-income countries: a systematic review.PLoS med,9(6), e1001244. Collen, M. F. (2015).A history of medical informatics in the United States. M. J. Ball (Ed.). New York: Springer. Gagnon, M. P., Desmartis, M., Labrecque, M., Car, J., Pagliari, C., Pluye, P., ... Lgar, F. (2012). Systematic review of factors influencing the adoption of information and communication technologies by healthcare professionals.Journal of medical systems,36(1), 241-277. Haux, R., Winter, A., Ammenwerth, E., Brigl, B. (2013).Strategic information management in hospitals: an introduction to hospital information systems. Springer Science Business Media. Kaur, K., Rani, R. (2015). Managing data in healthcare information systems: many models, one solution.Computer,48(3), 52-59.

Modernism Essays - Architectural Design, Architectural Theory

Modernism . Introduction [ ] Print section [ ] Modern Art , painting, sculpture, and other forms of 20th-century art. Although scholars disagree as to precisely when the modern period began, they mostly use the term modern art to refer to art of the 20th century in Europe and the Americas, as well as in other regions under Western influence. The modern period has been a particularly innovative one. Among the 20th century's most important contributions to the history of art are the invention of abstraction (art that does not imitate the appearance of things), the introduction of a wide range of new artistic techniques and materials, and even the redefinition of the boundaries of art itself. This article covers some of the theories used to interpret modern art, the origins of modern art in the 19th century, and its most important characteristics and modes of expression. Modern art comprises a remarkable diversity of styles, movements, and techniques. The wide range of styles encompasses the sharply realistic painting of a Midwestern farm couple by Grant Wood, entitled American Gothic (1930, Art Institute of Chicago, Illinois), and the abstract rhythms of poured paint in Black and White (1948, private collection), by Jackson Pollock. Yet even if we could easily divide modern art into representational works, like American Gothic, and abstract works, like Black and White, we would still find astonishing variety within these two categories. Just as the precisely painted American Gothic is representational, Willem de Kooning's Marilyn Monroe (1954, private collection) might also be considered representational, although its broad brushstrokes merely suggest the rudiments of a human body and facial features. Abstraction, too, reveals a number of different approaches, from the dynamic rhythms of Pollock's Black and White to the right-angled geometry of Comp osition with Red, Yellow, and Blue (1937-1942, Tate Gallery, London) by Dutch painter Piet Mondrian , whose lines and rectangles suggest the mechanical precision of the machine-made. Other artists preferred an aesthetic of disorder, as did German artist Kurt Schwitters, who mixed old newspapers, stamps, and other discarded objects to create Picture with Light Center (1919, Museum of Modern Art, New York City). Thus 20th-century art displays more than stylistic diversity. It is in the modern period that artists have made paintings not only of traditional materials such as oil on canvas, but of any material available to them. This innovation led to developments that were even more radical, such as conceptual art and performance art?movements that expanded the definition of art to include not just physical objects but ideas and actions as well. [ ] II. Characteristics of Modern Art [ ] Print section [ ] In view of this diversity, it is difficult to define modern art in a way that includes all of 20th-century Western art. For some critics, the most important characteristic of modern art is its attempt to make painting and sculpture ends in themselves, thus distinguishing modernism from earlier forms of art that had conveyed the ideas of powerful religious or political institutions. Because modern artists were no longer funded primarily by these institutions, they were freer to suggest more personal meanings. This attitude is often expressed as art for art's sake, a point of view that is often interpreted as meaning art without political or religious motives. But even if religious and government institutions no longer commissioned most art, many modern artists still sought to convey spiritual or political messages. Russian painter Wassily Kandinsky , for instance, felt that color combined with abstraction could express a spiritual reality beneath ordinary appearances, while German pai nter Otto Dix created openly political works that criticized policies of the German government. Another theory claims that modern art is by nature rebellious and that this rebellion is most evident in a quest for originality and a continual desire to shock. The term avant-garde, which is often applied to modern art, comes from a French military term meaning advance guard, and suggests that what is modern is what is new, original, or cutting-edge. To be sure, many artists in the 20th century tried to redefine what art means, or attempted to expand the definition of art to include concepts, materials, or techniques that were never before associated with art. In 1917, for example, French artist Marcel Duchamp exhibited everyday, mass-produced, utilitarian

O Come All Ye Faithful in Spanish

O Come All Ye Faithful in Spanish One of the oldest Christmas carols still sung is often known by its Latin title, Adeste fideles, in Spanish. Here is one popular version of the song with an English translation and vocabulary guide. Venid, adoremos Venid, adoremos, con alegre canto;venid al pueblito de Belà ©n.Hoy ha nacido el Rey del los ngeles.Venid y adoremos, venid y admoremos,venid y adoremos a Cristo Jesà ºs. Cantadle loores, coros celestiales;resuene el eco angelical.Gloria cantemos al Dios del cielo.Venid y adoremos, venid y adoremos,venid y adoremos a Cristo Jesà ºs. Seà ±or, nos gozamos en tu nacimiento;oh Cristo, a ti la gloria ser.Ya en la carne, Verbo del Padre.Venid y adoremos, venid y adoremos,venid y adoremos a Cristo Jesus. Translation of Venid, adoremos Come, lets us worship with a happy song;come to the little town of Bethlehem.Today the King of the angels has been born.Come and worship, come and worship,Come and worship Christ Jesus. Sing him praises, heavenly choirs;may the angelical echo sound.Let us sing glory to the God of heaven.Come and worship, come and worship,come and worship Christ Jesus. Lord, we rejoice in your birth;O Christ, the glory will be yours.Now in the flesh, Word of the Father.Come and worship, come and worship,come and worship Christ Jesus. Vocabulary and Grammar Notes Venid: If youre familiar with only Latin American Spanish, you might not know this verb form of venir well. The -id is the ending for a command that goes with vosotros, so venid means you (plural) come or simply come. Canto: Although this word, meaning song or the act of singing, isnt particularly common, you should be able to guess its meaning if you know that the verb cantar means to sing. Coros, eco: Both of these words have English cognates (choir and echo, respectively) where the c of Spanish is the ch in English, although the sounds of both are the hard c. The sound of I and ch in  in these words comes from the chi or χ of Greek. Among the many other word pairs like these are cronologà ­a/chronology and caos/chaos.   Pueblito: This is a diminutive form of pueblo, meaning (in this context) town or village. You may have noticed that in the translation of O Little Town of Bethlehem that the form pueblecito is used. There is no difference in meaning. Diminutive endings can sometimes be applied freely; in this case pueblito was used because it fit the rhythm of the song. Belà ©n: This is the Spanish name for Bethlehem. It isnt unusual for names of cities, particularly those well-known centuries ago, to have different names in different languages. Interestingly, in Spanish the word belà ©n (not capitalized) has come to refer to a nativity scene or a crib. It also has a colloquial use referring to confusion or a confusing problem. Cantadle: This is the familiar command form of cantar (cantad), and le is a pronoun meaning him. Cantadle loores, coros celestiales means sing him praises, heavenly choirs. Resuene: This is a conjugated form of the verb resonar, to resound or to echo. Loor: This is an uncommon word meaning praise. It is seldom used in everyday speech, having mostly liturgical use. Seà ±or: In everyday use, seà ±or is used as a mans courtesy title, the same as Mr. Unlike the English word Mr., the Spanish seà ±or can also mean lord. In Christianity, it becomes a way of referring to Jesus. Nos gozamos: This is an example of a reflexive verb usage. By itself, the verb gozar would typically mean to have joy or something similar. In the reflexive form, gozarse typically would be translated as rejoice. Nacimiento: The suffix -miento offers one way of transforming a verb into a noun. Nacimiento comes from nacer, a verb meaning to be born. Carne: In everyday use, this word typically means meat.   Verbo del Padre: As you might guess, the most common meaning of verbo is verb. Here, verbo is an allusion to the Gospel of John, where Jesus is referred to as the Word (logos in the original Greek). The traditional Spanish translation of the Bible, the Reina-Valera, uses the word Verbo rather than Palabra in translating John 1:1 from Greek.

Treasury, Foreign Exchange and Financialization Essay

Treasury, Foreign Exchange and Financialization - Essay Example The table below which is labeled – Table 1 shows the principal repayments schedule for the $200mn facility provided by Toronto Dominion Bank (TD). These were used as a basis for calculating the interest payments in the appendix. ... This has resulted in a difference of $2.4m in overpayment. These repayments were used as a basis in calculating the interest payments in the appendix. The table in the appendix shows the most likely scenario, a high interest scenario and a low interest scenario for CRP as a basis for deciding which of the three hedging strategies is most favorable. The interest payments on the swap option were calculated semi-annually in keeping with the requirements of that option. The interest rates used to calculate the quarterly interest payments were adjusted to reflect the effects on the interest paid interest on the loan by the corresponding hedging strategy. Therefore, the information does not reflect whether CRP or the other party gained from the interest rate swap, interest rate cap or the interest rate collar hedging strategies. The aim of the schedule is to determine which hedging strategy provided the best option in terms of being the least expensive for CRP. The table in the appendix sh ows the interest payments on the $200mn loan under the three hedging strategies and for each scenario. Most likely scenario Table 2 indicates that under the most likely scenario the interest rate swap option provides the best hedging alternative with a required interest payment of $53.7mn and an average interest rate of 11.31% for the three year period (interest remaining fixed throughout the period). This compares favorably with a required interest payment of $59mn and an average interest rate of 11.65% on the interest rate cap option. The interest payment required on the interest rate collar option is $59.6mn with an average interest rate of 11.77%. The loan agreement indicates that the interest rate charged on the hedging instrument should not exceed

Students with Intellectual Disabilities Coursework

Students with Intellectual Disabilities - Coursework Example Students with intellectual disabilities face the dilemma of high-stakes testing. Some students with intellectual disabilities are expected to complete such tests although the tests are beyond their capabilities. The expectations set by professionals are too high as students with intellectual disabilities are expected to learn from the same curriculum as those without disabilities. In some institutions, they are seen as the cause of school failure to attain federally mandated goals of sufficient yearly progress. Even though learning the core curriculum is essential for students with intellectual disabilities, there are several disadvantages of setting the standards too high. Students with intellectual disabilities face the challenge of self-determination during their transition from childhood to adulthood. There is a difficulty of understanding the concept of self-determination in the transition process. They receive little assistance from parents and teachers in using their self-dete rmination skills. In the end, they are not sufficiently prepared to face the IEP team and participate in meetings. In addition, teachers face some barriers in teaching self-determination. Firstly, based on traditional special education instruction models, teachers assume that students with intellectual disabilities cannot comprehend the decisions made during transition and IEP meetings. Secondly, the program design for the individual needs of students is not compatible with the expectations set by IDEA and NCLB.

The United States and China Essay Example | Topics and Well Written Essays - 1750 words

The United States and China - Essay Example This essay stresses that what is even more worrying is the fact that China imports almost all its raw materials, ranging from oil, alumina, cotton wool, and other materials needed for production. China is less fortunate when it comes to availability of the natural resource. Even worse is that the country’s tremendous population has to rely on the very little they can. That is why China has to rely on exports. China’s cultivated land is only 8 percent. Yet its economy is 22 percent of the entire world. This shows how much strain the country has to deal with. This paper makes a conclusion that the U.S., on the other hand, does not have to heavily rely on imports. This is because the country can produce much more than it needs for sustainability. It even has surplus produce for export. This is what helps to set it apart. In addition, the development that is going on in China is depleting the resources. The forest cover is diminishing, in fact, it is one of the worst covered in the whole world. This has only seen an increase in pollution, and it is adding to the global warming being experienced the world over. With the advancement of the Chinese, India, and other Asian countries, it is clear that Asia as a whole is on the rise in economic standing. Which a huge labor force, technological growth and an increase in exports, economic growth in Asia is steadily on the rise. America will continue to maintain its state because it is well advanced and well developed.

A View From The Bridge Essay-Arthur Miller -- English Literature:

A View From The Bridge Essay-Arthur Miller â€Å"A View From The Bridge† is a story with many themes and aspects such as love, The American Dream, Justice, Law and Family Honour. The story â€Å"A View From The Bridge† is about an Italian American community living in Red Hook, New York. The Italian American community in Red Hook are mainly all immigrants living in the country unlawfully. I will briefly describe the play. Alfieri, an Italian-American lawyer in his fifties, enters the stage and sits in his office. From his desk he talks to the audience and he introduces the story of Eddie Carbone. Alfieri compares himself to a lawyer in Caesar’s time. Eddie walks down the street to his house As Eddie reaches his front door two fellow Longshoremen, Louis and Mike greet him. Eddie’s niece, Catherine reaches out of the window and waves to Eddie and Louis. When Eddie enters the house he gently scolds Catherine for flirting with the boys. Eddie thinks she should be more reserved and not †walk so wavy†. Beatrice, Eddie’s wife, is also home. When Beatrice and Catherine set the table for dinner, they convince Eddie to let Catherine take a job as a stenographer down by the docks but Eddie didn’t want her to take the job because he thinks the men will take advantage of her and he wants Catherine to finish college. Eddie informs Beatrice that her cousins Marco and Rodolpho will be arriving early from Italy. Beatrice and Eddie plan to hide Marco and Rodolpho while they work in the country illegally to send money back home. Marco and Rodolpho arrive at the house and a brief reunion. Marco tells the Carbone family that he has three children and a wife back home that he will be sending money to. Rodolpho is the younger blond... ... sight of a man destroying himself, while those around him are as powerless as the audience to prevent it. This is hinted at by the beginning of the play. This play shows a whole range of emotions and tackles many issues such as The American Dream, Justice, Law and family Honour. In the end I thought that because Eddie and Catherine cared deeply for each other this led to Eddie being jealous of Rodolpho and over protective of Catherine, which split the relationship between Catherine and Eddie but also led towards the death of Eddie. All the characters in the play then suffered a tragedy because nobody gained anything in the play or achieved their dreams but mostly lost things instead of gaining things. Family honour might have been satisfied, but only through Eddie so that also proved to be negative because only Eddie dealt with it and nobody else did.

Sakae Sushi Business Plan

BU2005 Entrepreneurship Sakae Sushi Business Plan By: Lu Mi (12668064) Zhou Ke Jun (12618536) Aditya Nandal (1266) Mayank Bhardwaj(12669440) mayank. [email  protected] jcu. edu. au Executive Summary This report provides an analysis and evaluation of the current and prospective marketing, sales strategy, target customers, production cost, expenses and capital requirements of Sakae Sushi. It is an in depth report that discusses about the rise of Sakae Sushi as one of Singapore’s major restaurant chains.This report talks about the methods implemented by Sakae Sushi to attract customers during the time of the Asian financial crisis. This report contains financial statements of Sakae Sushi; it also contains information related to the costs involved in running the business, i. e. expenses, salaries and cost of raw materials, etc. It also contains information about the management team of Sakae Sushi and it provides insights of the industry and the company on the whole. Also discuss ed here are the various products and services offered at Sakae Sushi and the methods implemented by them to promote and advertise their brand to the masses.At the end there are a few questions addressed to the Chief Executive Officer of Sakae Sushi, Mr. Douglas Foo Peow Yong, which will help us to gain first hand knowledge about Mr. Foo and also about Sakae Sushi. It will also help young and budding entrepreneurs to understand how to analyze the market and make right decisions from time to time. Table of contents 1. Introduction 2. Overview of the Industry 3. Insights on the Company 4. Market/Product Positioning 5. Products and Services offered 6. Marketing (4 P’s) 7. Sales 8. Business Development Status 9. Production Process 0. Suppliers 11. Staff training and requirements 12. Expenses and Capital Requirements 13. Balance Sheet 14. Income Statement 15. Cash Flow Statement 16. Balance sheet & cash flow statement of Sakae Holdings 17. Financial Highlights 18. Management Profil e 19. Board of Directors 20. Funding Request and Exit Strategy 21. Risks and Contingency Planning 22. Recommendations Introduction Sushi is a Japanese specialty that consists of boiled vinegar rice wrapped around by a sheet of seaweed usually dry seaweed. Sushi is the most famous Japanese food found outside Japan.In Japan sushi is portrayed as a traditional food, the Japanese people enjoy various types of sushi during several occasions. For example oshi-zushi, which is made by pressing fish onto the sushi rice in a wooden box, inari-zushi is a very simple and most inexpensive type of sushi in which the rice is filled into deep fried tofu, chirashi-zushi is another variety of sushi in which seafood, mushrooms and vegetables are added over the sushi rice (Japan-guide. com, 2008). The main ingredients involved in preparing sushi are Shari that consists of short white-grained Japanese rice mixed with a dressing consisting of rice-vinegar, sugar and salt. Next ingredient is Nori, which is basically black seaweed wrappers; it is a type of algae very common in the harbors of Japan. It mostly involves the use of fish tuna, being the most common and also the chef’s specialty. Other seafood’s like shrimp, octopus, squid and crabs are used in preparing sushi. There can be more ingredients added to sushi by just adding them to the rice before it is rolled with the seaweed. One can use the bamboo mat for making the sushi roll (Japan-guide. com, 2008). Sakae Sushi was first introduced during the Asian financial crisis when almost all of the major Asian economies were going through a phase of turmoil.Mr. Douglas Foo Peow Yong, the Chief executive officer of Sakae Sushi opened the first branch of his now famous chain of restaurants in 1997 at Raffles Place, Singapore. At that point in time many would have thought of it as a very risky business and a great risk, but the company did exceptionally well to maintain its image in the mar ket and they established themselves as a tough competitor among other food chains. They managed all this by providing excellent quality customer service and serving one of the most delicious sushi dishes in the city.Sakae sushi took the heart of many Singaporeans and there innovative idea of serving sushi on the conveyor belt attracted more and more customers, not only the Japanese people living in Singapore but also tourists from all over the world visiting Singapore being a tourist hotspot. Many foreigners visiting Singapore were in search of great ambience and good quality fine dining cuisine, which was served at Sakae Sushi and the hospitality of the staff at Sakae sushi made their customers visit them more often and also recommend them to their fellow colleagues and friends. Overview of the IndustryMr. Douglas Foo would never have imagined that taking a gamble of launching his business during tough times would have paid of so much and help him reach such heights, as during the times of recession it is always very hard to enter a new market and sustain in the market, but his hard work along with the compassion and commitment of his colleagues and their dream of becoming the best in the business not only allowed the business to flourish during hard times but in due course it also became one of the most famous and trusted restaurant in qSingapore and also in different parts of Asia. Mr.Douglas Foo implemented his business idea with full dedication and attention and he also operated his business at low profit margins, which helped him attract more customers including the budding middle class and also students to enjoy great tasting authentic Japanese cuisine sitting at home in Singapore. He saw that his business was doing well in Asia and this made him think of expanding outside Asia. He started of with the United States of America but due to the world financial crisis in 2008 his dreams of doing well in the States were shattered and it was hard to sustain th e business in New York.Mr. Foo being a great Entrepreneur spotted the difficulties early on during the financial crisis and he finally decided to shut down operations at the Chrysler building in New York. Insights on the Company Mr. Douglas Foo introduced the first branch of Sakae Sushi at Raffles place in Singapore in the year 1997, knowing it’s going to be a tough fight Mr. Foo never backed out. He worked really hard along with his team to penetrate into the market and establish Sakae Sushi in the country.To attract customers they kept the prices low in comparison to other competitors, which attracted more customers and soon went on to open new outlets one by one and finally today they own more than 30 outlets in Singapore but he did not stop here, his plans of becoming world renowned motivated him to open new outlets in Malaysia, Thailand, Indonesia, Philippines and the People’s Republic of China, with intentions of entering North Korea and also looking to operate i n the United States of America in the near future (Apex-Pal International, 2009).They opened many branches in the suburban areas of Singapore, which gives a clear idea of them trying to reach out to the masses; this is another reason for their success. To grow along with the fast growing new generation, Mr. Foo introduced several other chains apart from sushi, he opened chains like Sakae Teppanyaki, Sakae Izakaya, The Pasta shop by Sakae, Hibiki and also for private sector parties he introduced Nouvelle Events and they soon became one of the best caterers in the whole of Singapore.The innovative idea of using conveyor belt to serve food met with a huge success and attracted customers who were looking for a great ambience to enjoy delicious food. He also introduced Sakae Delivery that enabled people to even order sushi at their home by calling Sakae Sushi directly. Their good quality food, safe environment and customer friendly service allowed them to achieve high customer satisfacti on, thus making them one of the best restaurant chains not only in Singapore but in many different parts of Asia (Apex-Pal, 2003). Mr.Foo does not just want to stop here; he has plans enter other Asian markets like North Korea that has strong monopoly power and also he still hopes for achieving success in the United States of America. Market/Product Positioning Sakae sushi not only serves sushi but it also has a variety of products that were introduced by Mr. Foo to maintain domination in the market. He knew very well that Singapore being a tourist nation attracts many foreigners who have different taste buds, so he introduced various other signature dishes that suit the taste buds of the customers.To keep up with the demand they keep on innovating and introducing new offers and new themes every month for example they started with Soba theme for the month of April which involved several Soba food specialties like soba soup, soba salad and soba cheese rolls, and the best part is that all of these items are affordable even for the middle class. At some stores they even serve free meals on every first Sunday of the month for the young children.Its important to attract the young generation and today’s generation loves to have fast food so they introduced variety of burgers like Teriyaki Chicken, Unagi and Salmon Mango, the school going children and college students also cherish such delicacies provided to them at reasonable prices. Sakae sushi also runs several sushi buffets for each meal of the day like lunch buffet, teatime buffet and dinner buffet for every member of the family from children to youth to adult they cover all the generations. Their customers love the availability of different desserts with several fruity flavors and they are even healthy.The vast varity of desserts offered like sesame with red bean, vanilla with chestnut, mango and strawberry, etc. are cherished by one and all, thus the people enjoy coming to Sakae Sushi again and again (A pex-Pal International, n. d. ). Marketing Marketing is an art and science of mixing up of elements such as appealing products, competitive prices, convenient places/locations, and promotions to comprise the basic building blocks of the firm’s offer to the market (Noel Capon, 2009, p. 11). Marketing basically involves 3 types of orientation, i. e. Consumer, goal and system orientation.All three orientations need to go hand in hand so as to achieve golden success for any firm and this is exactly the case of Sakae Sushi. Mr. Douglas Foo and other members of the management team were able to address all three orientations very well and were able to create such a brand in Singapore that now has operations in some of the major economies of Asia. The marketing mix of services marketing included 4 P’s that are essential to effectively market a product to the prospective target market, the 4 P’s are namely; Product, Place, Promotion and Pricing.For any firm to excel in it s marketing efforts it needs to focus on these 4 P’s so as to effectively market their product and create a well-established brand image. (Please refer to appendix 1. 1) Product The term product refers to the tangible physical products as well as services that include decisions to be made regarding the brand name, styling, packaging and design, etc. of a product. The way Sakae Sushi has brought about a change to this concept is something for which the management at Sakae Sushi deserves a great round of applause.Introducing an already known product to the customers in a totally new way and effectively marketing it to the masses by introducing a totally new concept of conveyor belt is something to learn from. It not only requires creativity but also innovation at its best, so that whatever hard work is put in is reflected by the craving the customers have for their sushi (Lovelock, 2007). Price The level of competition in today’s world is very high and everything costs a great amount of money as compared to the past.So to effectively market out a product to the customers out of the 4 P’s, price is a very important aspect that needs to be taken into consideration as it affects the demand of a commodity inversely. If the price is more then the demand for a good falls and vice-versa, so to increase the sales pricing should be competitive, and Sakae Sushi has done exactly the same by introducing the Sakae Buffet at competitive prices for different days of the week so that every sushi liver gets to eat all what they crave for. PlacePlace or distribution strategies are concerned with making products available to the customers where and when they want them (Charles W. Lamb et al. 2008,pg. 46). Sakae Sushi outlets in Singapore are located at strategically important and accessible places, so that their customers need not walk miles in search for good food. Being located at many of Singapore’s prime locations and almost all outlets accessible b y M. R. T, it makes Sakae Sushi the preferred choice for the working class of Singapore in areas such as City Hall, Dhoby Ghaut and Orchard during peak office hours.Sakae Sushi targets those areas to operate their stores where they find a potential target market also keeping in mind other areas in close vicinity. Promotion Promotion represents the methods of communication that a marketer may use to provide information to different parties about his product. Promotion comprises of elements such as:  advertising,  public relations,  personal selling  and  sales promotion. To gain most out of the target market and potential customers, various sought of promotions need to be given out form time to time so as to keep the interest of the customers alive.Sakae Sushi has done enough advertising campaigns and has offered its customers with new themes every month so that their customers never get bored of the same old dishes. By introducing â€Å"Sakae Signatures†, â€Å"Sak ae Buffet† and â€Å"Sakae Lunch Mix â€Å"N† Match†, etc. they try to offer more and more to their customers so that the customers can indulge in eating more delicacies without having to worry about their pockets. This has revolutionized the service industry. They also offer burgers and pastas so that they can expand their target market customers and let more people crave for mouth-watering delicacies (Lovelock, 2007).SWOT Analysis Strengths Well-established brand in terms of customer satisfaction and also they provide quality service. Market leaders and trendsetters in terms of addressing the needs of the customers by bringing new and apt themes and promotions every now and then that is according to the demands of their customers. Managing high sales revenue without charging hefty prices to their customers. Dedicated and honest staff that always looks to serve the customers with a smile. Weaknesses The business structure is highly complex in terms of operations and the cost of maintenance is also high.Providing on the job training to their employees also costs a lot of money. Opportunities Can look to capitalize on the advantage they have over their competitors as a well-established brand. They also have good tie-ups in foreign countries including major Asian economies like China. Their company is a well-recognized company listed on Singapore Stock Exchange. Threats Competitors can copy their business idea and try to monopolize on it. The competitors can offer jobs to their employees at their own restaurant. It is also difficult to keep up with the ever-changing demands of the customers.Sales Effectively marketing a product is only one side of the coin, the other side of the coin is the sales strategy that is implemented by a company so as to boost revenues by increasing sales. All the marketing efforts can go down the drain if a company fails to capitalize on the efforts put in by the marketing team. Main motive of any company is to earn profits and this can only be achieved by boosting sales, and to boost sales it is very important to come up with fancy promotions and schemes so that the customers are lured into indulging themselves with the products offered by the company.By introducing Sakae Sushi membership and giving Sakae Card to the customers for S$38 and still managing to give the customers value worth S$55 is a good step taken by the management. The card not only gives bonus value, but it also can be used to avail discounts and other promotions from Sakae Sushi outlets, this keeps the customers craving for more and more new delicacies and keeping a look at new offerings.Various schemes and promotions like â€Å"The Sakae buffet, Min â€Å"N† Match, Drive-Thru menu and Self Collect and Save† help Sakae Sushi to maintain high standards of customer satisfaction and this in turn motivates them to bring up new themes for each month of the year. For example the theme for the month of April is the à ¢â‚¬Å"Soba† theme. New promotions, new monthly themes and discounts help boost sales and as the past records show Sakae Sushi has done well enough to maintain the stream of profits and also innovate to perfection (Dalrymple, 2000). Business Development StatusSakae Sushi was stared in the year 1997, since then it has grown tremendously and expanded and reached out to other countries like Indonesia, Thailand, Philippines, Malaysia, Vietnam and China etc. Douglas Foo’s ambition is to turn Sakae into a major food franchise and to be considered as â€Å"the McDonalds of sushi† worldwide. After starting its first branch in Raffles place (business district of Singapore), it has now opened more than 15 branches in Singapore alone. In 2001, Sakae opened its first overseas outlet in Thailand, a joint venture with a Thai food company and other local partners.By 2002, Sakae was in Indonesia as well and was grossing annual revenue of around $23 million SGD. For the financial year ended 31 December 2009, the Group reported revenue of SGD88. 8 million and net profit of SGD3. 3 million (Theresianto, 2008). In 2001 Sakae Sushi opened its first Drive through restaurant in Trade Hub 21 in Jurong east MRT station. Sakae Sushi tends to open their branches near MRT stations so as to attract the crowd and the frequent travellers. In 2006 Sakae sushi decided to expand its business to north Korea, Mr.Foo made his first visit to North Korea in 2001 as part of a Singapore Manufacturers' Federation delegation and has maintained the contacts he made then. He believes it will be â€Å"business as usual†, and he might step up talks with his North Korean business partners on plans to take his sushi outlets there and bring North Korean cuisine to Singapore. In 2003, Sakae’s parent company Apex-Pal was listed on the Singapore Stock Exchange. Apex-Pal’s food businesses, of which Sakae is the flagship brand, represented over 95% of the company’s re venues.In August, Apex-Pal’s Initial Public Offering (IPO) set out 16. 5 million shares, of which 836,000 were for public investors and the rest for institutional investors, clients and company employees (Business Times, 2004). Production Process The rice used for the sushi served in our Sakae Sushi restaurants, unlike most conventional sushi restaurants, is enriched with Vitamin E. Their experienced chefs are able to produce a consistent level of quality for all dishes served in Sakae Sushi, thus raising the level of confidence their customers have in their restaurants.To maintain high level of quality and freshness, raw food is not rotated on the kaiten (conveyor belt) for more than an hour, and cooked food for more than two hours. This standard of freshness is maintained through a color-coding system. For the regular dishes, the staff can immediately identify plates, which have been on the Kaiten (conveyor belt) for too long using our color-coded system. In relation to the premium red plate dishes, as the quantity of such premium dishes is much smaller compared to the regular dishes, our chefs personally monitor these dishes using our color-coded system.Their aim is to provide their customers with unique, hassle-free dining experience at Sakae Sushi restaurants. The dual-directional conveyor belt upon which the sushi dishes are displayed was designed to both maximize the seating space available and to provide customers with efficient service. Self-service hot water dispensers are located at each table and at each station of the kaiten (conveyor belt) for customers to fill their complimentary cups of green tea.Also installed is the interactive menu system at most of the restaurants from which customers can surf the menu containing both illustrations and descriptions of the dishes before placing their orders directly with the kitchen through the ordering system on the interactive menu. Where logistical difficulties affect the installing the interactive menu system at any booth portable, the intercom ordering system is installed instead, thus maintaining the high level of efficiency in service. Sakae Sushi adopts a simple two-tier pricing structure in relation to their kaiten sushi.Sakae’s simple price structure proved to be very popular. The majority of sushi dishes were priced at S$1. 90 and premium dishes at S$6. 50, which made Sakae more affordable than other Japanese restaurants. Suppliers The decrease in purchases from them in FY 2001 and FY 2002 is due to Sakae Sushi’s ability to secure alternative sources of those products at lower costs. To reduce their reliance on All Big Trading Co. and to diversify our supplier base for seafood, they began to purchase seafood from Surapon Foods Public Company Limited and LianHup Fish Merchant Co. n FY 2001 and FY 2002 respectively. These purchases helped them increase the turnover, which was also due to the increase in the number of Sakae Sushi restaurants. In addition to Marukawa Trading, they also purchased frozen food products from Tomo-Ya Japanese Food Trading, Shimaya Trading Pte Ltd and Moon Marine Singapore Pte Ltd who supply Sakae Sushi with frozen food products. The amount of purchases made by the Company from each of these three suppliers was relatively constant for the last three financial years (Apex-Pal International, 2009).The following are the suppliers for Sakae Sushi: All Big Trading Co. (All Big Frozen Food Pte Ltd) – Seafood Marukawa Trading – Dried / frozen food products Tomo-Ya Japanese Food Trading- Frozen food products Shimaya Trading Pte Ltd – Frozen food products Moon Marine Singapore Pte Ltd – Frozen food products Surapon Foods Public Company Limited – Seafood LianHup Fish Merchant Co. – Seafood Staff training and requirements Sakae Sushi provides all new employees with a complete orientation and training which is specific to their positions.New full-time operations staff, for their F;B outlets and, those of the franchises is sent to ITE-certified On-The-Job Training (â€Å"OJT†) schools to be trained by Sakae Sushi’s special OJT trainers. The OJT schools have been certified by ITE to be able to conduct OJT for our staff working in their F;B outlets. Such training involves the training and coaching of new employees by supervisors and managers through hands-on learning at the OJT schools. This type of training allows new employees to develop the required skills within a short period of time, without leaving their work place.Apart from kaiten sushi, the restaurants also serve ala-carte dishes. All members of the service staff are trained with the necessary skills and menu knowledge to provide a consistent level of customer service and to assist our customers in food selection as and when called upon to do so. Sakae Sushi also conducts refresher courses for their staff. Part-time service crew is given on-the-job training by our qualified trainers (A pex-Pal International, 2009). Expenses and Capital Requirements The main expenses of Sakae sushi are the purchase of the raw materials from its suppliers.Since the raw materials have no fixed cost F ; B have to face variable cost of the raw materials. Since the prices of the items on the Sakae Sushi menu cannot be changing constantly, Sakae sushi have to find different ways to maintain their budget and expenses. Every time Sakae sushi opens a new branch it has to incur certain costs like furniture, rent, labor, electricity, operating costs etc. Thus the capital required to open every new branch is different and may vary from places to places and from time to time. In the year 2011 Sakae Sushi spent around S$40,000,000 on the property, plant and equipment.Also the labor cost in Singapore is considerably much higher than most countries, so it is harder to start an F ; B based business like a Sakae Sushi restaurant in Singapore. Balance Sheet (Apex-Pal, 2003) Income Statement (Apex-Pal , 2003) Cash Flow Statement (Apex-Pal, 2003) Balance sheet and cash flow statement of the Sakae Holdings The Group’s cash and bank balances as at 31 December 2011 stood at $6. 1 million, a decline of $6. 4 million during the year, due to increased investment in property, plant and equipment with the construction of new central kitchen in Singapore and setting up of a headquarter in Malaysia.The Group has also made investments in associates in the beginning of the year, which was funded by bank loans. Shareholder’s equity stood at $27. 2 million as at 31 December 2011 (Full Year Financial Statement And Dividend Announcement {n. d. }). The Group was in a negative working capital position of $5. 9 million as at 31 December 2011 due to short-term revolving loans balance of $10. 3 million, which are renewable at maturity. The Group has repaid some of the revolving loans during the year (Full Year Financial Statement And Dividend Announcement {n. d. }). Financial Highlights A.Actual (‘000) Results200420052006200720082009 Revenue45,16151,90566,64583,83893,80488,817 Profit/Loss before tax2,7964,7436,6973,485(3,695)3,336 Profit/Loss attributes to share holders2. 0853,6845,0812,261(3,748)3,262 Non-current assets4,8334,62712,43318,51619,87630,852 Non-current liabilities30128942159058610,088 Shareholders equity10,76213,57620,51516,39811,15320,256 Net assets per share10. 0912. 7414. 4511. 557. 8614. 26 Earnings per share1. 963. 463. 741. 59(2. 64)2. 30 B. Expected (‘000) Results201020112012 Revenue71,69583,644. 1790,058. 03 Profit/Loss before tax2,893. 672,909. 942,604. 4 Profit/Loss attributes to share holders2,104. 172,107. 361,844. 59 Non-current assets15,189. 5016,915. 5818. 963. 68 Non-current liabilities2,045. 832,336. 642,677. 91 Shareholders equity15,443. 3316,223. 5616,664. 81 Net assets per share11. 8312. 1112. 01 Earnings per share1. 741. 701. 40 (*Projected Figures based on previous year average) (Apex-Pal International, 2009) Manageme nt Profile Board of Directors Douglas Foo Peow Yong (Chairman and Chief Executive Officer) Foo Lilian (Executive Director and Executive Vice President) Andy Ong Siew Kwee (Non-Executive and Independent Director)Lim Chee Yong (Non-Executive and Independent Director) Chan Wing Leong (Non-Executive and Independent Director) Audit Committee Lim Chee Yong (Chairman), Chan Wing Leong, Andy Ong Siew Kwee Nominating Committee Lim Chee Yong (Chairman), Chan Wing Leong, Douglas Foo Peow Yong Remuneration Committee Chan Wing Leong (Chairman), Lim Chee Yong, Douglas Foo Peow Yong Company Secretaries Rachel Ng Meijing (CPA, Singapore), Chan Lai Yinb (ACIS) (Apex-Pal International, 2009) Board of Directors â€Å"A  board of directors  is a body of elected or appointed members who jointly oversee the activities of a  company†(Robert, H. , 2000).Other names include  board of governors,  board of managers,  board of regents,  board of trustees, and board of visitors. It is often simply referred to as â€Å"the board†. In a stock corporation, the stockholders elect the board and it is the highest management authority of a company. In a  non-stock corporation  with no general voting membership,  e. g. , a university, the board is the supreme governing body of the institution (Robert, H. , 2000). The duties of the board of directors of Sakae Sushi are as follows: * Establishing policies and objectives. * Selecting, appointing, supporting and reviewing the performance of the  company. Ensuring the availability of financial resources. * Approving annual budgets. * Accounting for the performance of the company. * Managing salaries and compensation of the employees. MANAGEMENT: Mr. Douglas Foo Ms. Foo Lilian Mr. Lim Chee Yong Mr. Andy Ong Siew Kwee Mr. Chan Wing Leong MR. DOUGLAS FOO (Chairman and Chief Executive Officer) Mr. Douglas Foo has been a Director of the Group since 17 February 1997. As Founder and CEO of the Group, he manages the overall management, strategic planning and business development functions of the Group. Mr.Foo started his career as a marketing executive but with his talent and entrepreneurial skills he was able to come up with an idea of opening a garment trading business which was not really successful, so a year later he thought of getting into the food and beverages industry by opening the first branch of Sakae Sushi and has since developed Apex- Pal into a successful enterprise that it is today (Apex-Pal International, 2009). MS. FOO LILIAN (Executive Director) Ms. Foo Lilian was appointed as Sakae Sushi’s Executive Director on 2nd May 2002 and is responsible for the general management of the Company. Ms.Foo handles the Group’s leasing, business development and legal matters. She is also responsible for the consultancy, maintenance and research and development work for all IT-related matters of the Group. In 1997, Ms. Foo joined the Central Provident Fund Board where she was a databas e administrator until February 2000. She also worked with the Keppel TatLee Bank Limited as an assistant manager. Ms. Foo left Keppel TatLee Bank Limited to join Sakae Sushi in January 2001 (Apex-Pal International, 2009). MR. LIM CHEE YONG (Independent Director) Mr. Lim Chee Yong was appointed as our Independent Director for Sakae Sushi on 14 July 2003.From October 1982 to April 1987, Mr. Lim served as a senior corporate banking officer in Overseas Union Bank Limited. In May 1987, he joined Banque Paribas, Singapore Branch as a deputy manager of banking, where he stayed until April 1989. He was appointed an executive director of Alliance Technology and Development Limited, a company listed on the Main Board of the SGX-ST, in May 1989. Mr. Lim left Alliance Technology and Development Limited in March 2000. Mr. Lim is also an independent director of Twinwood Engineering Limited, a company listed on the SGX- CATALIST, from 1997 to 2007 (Apex-Pal International, 2009). MR.ANDY ONG SIEW K WEE (Independent Director) Mr. Andy Ong Siew Kwee was also appointed as Sakae Sushi’s Independent Director on 14 July 2003. Mr. Ong is the CEO of ERC Holdings Pte Ltd. ERC is a leading player in the education industry in Asia. He oversees the regional development as well as the merger and acquisition activities of the firm. He is also the Founding President of the Financial Planning Association of Singapore, a professional body for financial services that issues world-renowned Certified Financial Planner marks. He has written several best-selling books on financial management and business (Apex-Pal International, 2009).MR. CHAN WING LEONG (Independent Director) Mr. Chan Wing Leong was appointed as an Independent Director on 30 April 2005. Mr. Chan holds an honors degree in Economics from the University of Singapore. He started his career in the Administrative Service of the Singapore Government in 1981, and has held stints in several government posts in the Ministry for Trade and Industry and Economic Development Board, as well as in Government- linked Corporations. Mr. Chan was an investment banker in the late 1980s to 1995 at Schroders PLC and Bankers Trust Corp in both Singapore and Hong Kong.In 1995, he returned to Singapore to be Chief Financial Officer of Sembawang Corporation until 2001 (Carter, 2008). Funding Request and Exit Strategy In December 2007, Sakae opened its first outlet in the United States at the Chrysler Building in New York, its 61st outlet worldwide. Initial S$3 million had been invested by Apex-Pal in the outlet. The outlet did not to well because of tougher times and they have since then shut down their operations in USA. Initially, because of the company’s small size, Mr. Foo’s strategy for Sakae’s expansion was to enter into franchise agreements.As the company grew, the company also utilized a strategy of foreign direct investments in those countries where such investments were feasible and also welcomed by the respective governments. Global economic crisis occurred in 2008 and Sakae found its margins reduced by high prices for commodities such as rice and vegetables. The company cut salaries and executive pay but decided against staff layoff. A profit of S$2. 3 million in 2007 was followed by a net loss of S$3. 8 million, in 2008 due to rising rentals, salaries and commodity costs. It was Apex-Pal’s first annual loss.Sakae introduced cost cutting measures such as finding new food suppliers, minimizing waste and tightening other operational practices. The company returned to making profit in 2009, posting a S$3. 3 million profit. Risks and Contingency Planning The Starting Point It is vital that any organization takes development and maintenance, disaster recovery and business continuity plans seriously. It cannot be left until it develops into a serious problem. Impact Assessment One of the first tasks to be undertaken is to prepare a comprehensive list of serious issues tha t can affect the normal operations of a business.This list should include all possible issues no matter how likely they are to occur. Since Singapore is an island one of the major risk factors can be floods. Developing the Plan Once the assessment stage has been completed, the structure of the plan can be established. The plan will contain a range of milestones to move the organization from disrupted status to return to normal operations. The first important milestone is about dealing with the aftermath of a disaster. The next stage is to determine which business functions need to be resumed.The plan will be detailed, and will identify key individuals who should be familiar with their duties (The Contingency Planning Guide, 2002). Testing the Plan Once this plan has been developed it must be subjected to rigorous testing. The testing process must be properly planned and should be carried out in a suitable environment to produce authentic conditions. Those who would undertake the maj or activities of the business should test the plan. The test procedures should be documented and the results recorded. This is important to ensure that feedback is obtained for fine-tuning the Plan.Personnel Training This stage is dependent upon the development of the plan and the successful testing of the plan. It is necessary that all personnel are aware of the plan, its content and their own related duties and responsibilities. Again, it is important that all personnel take the disaster recovery plan seriously, even if the events that would trigger the Plan seem unlikely. Obtain feedback from staff in order to ensure that responsibilities and duties are understood, particularly those that require dependency on others actions (The Contingency Planning Guide, 2002). Maintaining the PlanThe plan must always be kept up to date and applicable to current business circumstances. This means that any changes to the business process must be properly reflected in the plan. Someone must be a ssigned responsibility for ensuring that the plan is maintained and updated regularly and should therefore ensure that information concerning changes to the business process are properly communicated. Any changes or amendments made to the plan must be fully tested. Everyone should be kept abreast of such changes that affect their duties (The Contingency Planning Guide, 2002). Recommendations To develop business in America and to attract American customers it’s important for the Sakae group to develop some American friendly food like Sakae beef burgers, hot dogs, rolls and other food loved by the people there, this will affect the revenue that Sakae can make in that country. * In countries like North Korea, they should find local partners to work out a good franchising option. * Conduct more on the job training activities to enrich the employees to possess all the required skill to excel in their job. * Expand their product base and standardize their products across all their branches to lower their costs. Conduct extensive market research to identify the target market and develop products and services according to the needs of their customers. * Tie up with other food ; beverage organizations to promote and diversify their brand. * Sponsor events like marathons, blood donation drives and cultural fests to attract the masses especially the younger generation to get involved with Sakae Holdings. * As part of Corporate Social Responsibility, Sakae Holdings should adapt eco-friendly practices like recycling, reusing and reducing the waste generated.Also they can contribute towards the environment by implementing energy saving practices like maintaining a constant temperature of 24 degrees while using air-conditioner. * By working with their suppliers they can research and develop new ways to store their inventories effectively by keeping it fresh and ready to use. * They should also develop ways to minimize their transportation cycles and also save on fuel costs and reduce their carbon footprint. 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J. , Basic Marketing Management (pp. 272-276). New York, United States of America: John Wiley ; Sons. Japan-guide. com. (2008, 05 31). Sushi. Retrieved 04 10, 2012, from Japan-guide. com: http://www. japan-guide. com/e/e2038. html Lamb, C. W. , Hair, J. F. , McDaniel, C. (2008). Essentials of Marketing. Cengage Learning. Lovelock, C. H. , Patterson, P. G. , Walker, R. H. (2007). Understanding service products, customers and employees. In Lovelock, Patterson, P. G. Walker, R. H. , Services Marketing (pp. 26-30). NSW, Australia: Pearson Education Australia. Robert, H. (2000). Robert's Rules of order newly revised. Philadelphia: Perseus Pub. Sakae Holdings Ltd. (2012, 2 28). Retrieved 4 5, 2012, from http://www. finanznachrichten. de: http://www. finanznachrichten. de/pdf/20120228_172124_5DO_752F7CDF0A7BD282482579B2002082FC. 1. pdf The Contingency Planning Guide. (2002). Retrieved 4 5, 2012, from http://www. contingency-planning-disaster-recovery -guide. co. uk Theresianto, N. (2008, February 11). Apex-Pal expands its Sakae Sushi empire. The Edge Singapore. Retrieved March 9, 2010, from Factiva.