Wal Walmarts Electronic Commerce Platform - 1223 Words

Wal-Mart seeks to Outperform Amazon’s Electronic Commerce Platform It is no secret that when the holidays are near, big retail companies work extra hard to stock enough products to meet consumer demand. Immediately, two huge retailers come to mind: Wal-Mart and Amazon. The two companies dominate their markets by landslides. Wal-Mart is Forbes 500 number one company, and it has been for the past three years (Forbes, 2015). However, Wal-Mart is feeling some opposition from the electronic commerce champ, Amazon. Amazon, who ranks 29 in the Forbes 500 list of 2015, is the biggest challenger Wal-Mart has faced (Forbes, 2015). With its increase in merchandise categories, to introducing one-hour deliveries, Amazon is a force to be†¦show more content†¦Wal-Mart CFO Charles Holley said, in an interview made by Teach (2015), that Wal-Mart spends $12 billion to $13 billion a year on e-commerce. He also mentioned that Wal-Mart â€Å"will increase spending on e-commerce in itiatives by 30%† for the duration of that year (Teach, 2015). This is not a bad investment because it is focusing on the area Wal-Mart is not dominating. Unfortunately, Wal-Mart is wasting time and money investing in small stores to continue their expansion and desire to get closer to its customers. This approach is Wal-Mart’s biggest issue because it deviates the efforts of acquiring a reliable e-commerce platform capable of competing with Amazon. Whether Wal-Mart is doing the right thing or not is not in question; they are in the top for a reason. However, if Wal-Mart wants to stay on top, it has to manage its investments wisely. One of Amazon’s advantages over Wal-Mart is that it does not have to supply over 4,500 stores, including 600 Sam’s. Wal-Mart’s distribution centers are made for supplying its array of sores, which is an issue for Wal-Mart because Amazon’s supply chain is tailored to its e-commerce platform. According to Bonney (2012), Amazon has â€Å"69 online distribution centers in the U.S. and abroad.† This platform allows it to sell its products from the comforts of its customer’s home, office, or any

Impressions of the People and Society Blake Lived In Essay

Impressions of the People and Society Blake Lived In In this essay I will be exploring William Blake and the Romantic views expressed in his poems. Romanticism was an early and artistic way of looking at things which ended with Victorian age. Romantic’s supported freedom of thought, movement and life style and were against oppression of any kind. Romantic’s saw children as the future and were against child labour and the snatching of childhood. They saw the negative affect on life due to industry and viewed industrialisation as blameworthy for enslaving people and their ‘masters’ treated them badly. Romantics felt all people should have rights and be respected. Blake was a romantic born in 1757 and died in 1827; he was born†¦show more content†¦The first line uses the word ‘I’ which immediately tells us it is the poet, William Blake that is talking. The title of the poem seems to build up to expectations of hope and colour though the poem destroys all of these ideas. For me, when I begin to read this poem I sense Blake has no sense of direction and isn’t really taking notice of his surroundings, this message is delivered by the use of the word ‘wander’. The word ‘chartered’ is also used here, chartered is a word with two meanings and here it could mean ether one of the two; it could be referring to the mapping of the streets, as maps were being made of London at this time, or it could be used to express a dirty and restricted River Thames. Blake is against all oppression and hates the fact, the once most free thing, The Thames, is now forced to follow the path between buildings and is completely controlled with dams and bridges. Blake is found repeating the word ‘every’ this expressing a fact; no one escapes this torment. These people that walk the streets are scarred with sadness, hurt and the poverty that he stands against, though in ‘every face’ Blake meets he is to see ‘Marks of weakness, marks of woe’. With the repetition of ‘every’ he gives us ideas of crying children who are scared of the world they are born into and see no hope. Verse two creates an image ofShow MoreRelated Comparing London by William Blake and Westminster Bridge by William Wordsworth811 Words   |  4 PagesComparing London by William Blake and Westminster Bridge by William Wordsworth William Blake was born in London in 1757. He was taught by his mother at home, and became an apprentice to an engraver at fourteen. In addition to poetry Blake spent much of his time painting. Blake lived on the edge of poverty and died in neglect. His poetry receiving little acclaim while he was alive. ‘London’ was written by Blake in 1789. Taken from Blake’s ‘Songs of Experience’, theRead MoreLondon by William Blake and Upon Westminster Bridge by William Wordsworth1327 Words   |  6 PagesWilliam Blake and Upon Westminster Bridge by William Wordsworth This essay aims to compare and contrast the differences and similarities between the two poems London and Upon Westminster Bridge. They both create powerful, contrasting images but are both similar in the use of language and exaggeration. The first poem to be commented upon is London by William Blake, written a couple of decades before the second poem written by William Wordsworth. William Blake negativelyRead MoreWilliam Blake’s  Revolution 3088 Words   |  13 Pages Blake’s  Songs of Experience  was published in 1794 against the backdrop of Robespierre’s Reign of Terror and England’s war with France. Blake, an English Jacobin who, as his biographer Gilchrist writes, â€Å"courageously donned the famous symbol of liberty and equality—thebonnet-rouge—in open day; and philosophically walked the streets with the same on his head† (93), was by this date becoming increasingly disenchanted in his hopes for sweeping political reform in England. One does not often speak ofRead MoreThe Beat Generation Essay1538 Words   |  7 Pagesfabricate pseudonyms to avoid any potential libel charges, because while the story is fictionalized, it is based in reality. The main characters, all based on real people are as follows: Sal Paradise (Kerouac), Dean Moriarty (Cassady), Carlo Marx (Ginsberg), and Old Bull Lee (Burroughs), and most of the female characters are based on the people in Kerouac’s life. (Explanatio n of: On the Road by Jack Kerouac). â€Å"I saw the best minds of my generation destroyed by madness, starving hysterical naked.†Read MoreA Good Man Is Hard To Find† Essay2784 Words   |  12 Pagesmoments in the story raise questions about her moral attitude towards blacks. For example, when she narrates the watermelon story, she degrades the reputation of black people by saying â€Å"because a nigger boy ate it† and doesn’t consider anyone else to be responsible for such an act (O’Connor 301). In the comment is she stereotyping black people as the scapegoats for all matters, like they did in the slavery period? Or is it to â€Å"highlight the white Southerner’s popular belief that the black Southerner lovesRead MoreFrancis Bacon15624 Words   |  63 Pagesworldly terms. On one hand, he preached high moral principles and on the other hand, he also expressed a mean capacity by compromising upon those morals for the sake of worldly success. For this reaon, William Blake, a s piritual poet says about his essays:   â€Å"Good advice for Satan’s Kingdom.† Blake considers any utilitarian advice contrary to God’s ways, but Bacon does not bother for that. He considers this world more important and striving after the success in this world is equally important. BaconRead MoreMarketing Literature Review3985 Words   |  16 Pagesorganizational goals (Bartol 1997). The manager must communicate with his/her subordinates, explain his/her plans to them, and lead and motivate them to exert their maximum efforts to achieve the goals. Motivation is an internal process that energizes people to engage in certain types of behaviours. Frederick Winslow Taylor’s Scientific Management Movement, was one of the earliest attempts to understand and to deal with the problem of worker motivation. Some major contributors to motivation theoriesRead MorePlace8569 Words   |  35 Pagestalk about the memories from the heating stove, the clay jar of water, the plates, the sink, the table, and all the meals. Truly, the kitchen is a cherished place. When I was younger, I remember my two widowed aunts tidying up the kitchen. They lived in the province with their brother, my widowed grandfather. When we visited them, we ate in their simple kitchen built with bamboo floors. They came wearing traditional Filipino dresses. They looked so beautiful for me (in their old age and singleRead MoreCleanth Brookss Essay Irony as a Principle of Structure9125 Words   |  37 Pagesessential that we remind ourselves constantly of Lenin’s importance as a theoretician for the development of Marxism. This has been obscured for many people by his overwhelming impact as a politician. The immediate practical importance of each of his utterances for the particular moment in which they are made is always so great as to blind some people to the fact that, in the last resort, he is only so effective in practice because of his greatness, profundity and fertility as a theoretician. His effectivenessRead MoreLangston Hughes Research Paper25309 Words   |  102 Pagescontinued to submit to segregation and live in poverty. Langston Hughes, 1933 (Library of Congress) Langston was not ashamed of being a black American. He had already written poems celebrating his heritage. He felt connected to the oppressed brown people of the world and hated his father for mistreating his Mexican employees. Witnessing his fathers tyranny made Langston sick enough to require hospitalization. By the end of the summer, Langston was glad to return to school in the United States

Taxation system of Maldives-Free-Samples-Myassignmenthelp.com

Question: Discuss about the Taxation System of Maldives and its Impact on Maldives Economy. Answer: Introduction Tax system in Maldives: Maldives effective tax administration is backed by a strong and efficient tax system which was introduced in Maldives through the establishment of Maldives Inland Revenue Authority (MIRA) under Tax Administration Act (law no: 3/2010). The modern tax system which was introduced in 2011 in Maldives is administered solely by MIRA with the purpose of implementing sound taxation policies, giving advice to government in ascertaining policies related to tax, executing tax laws, planning a systematic cost reduction in tax administration. The taxation policies implemented by MIRA brought swift growth in economic and social development of country (Maldives Inland Revenue Authority, 2013). As provided in data about total revenue collection (2010-2017) of MIRA in 2016, the total revenue collection by MIRA was 14.53 billion. Various Taxes: Taxation system in Maldives is quite simple with broad based taxes in small numbers. Business profit tax and goods and service tax are the important source of taxation here. Business Profit Tax is charged on the profits of business operating in Maldives. It is charged if taxable profit exceeds MVR 5,000,000 in a year. Business Profit Tax also comprises Withholding Tax which is paid at the rate of 10% on the specified payments made to non-residents. Goods and Service Tax was introduces to be imposed on the transaction of goods and services in Maldives under Goods and Service Tax Act (Law No.: 10/2011). This Act comprises tax on tourism goods and services at the rate of 12% and general goods and services at the rate of 6%. Mandatory registration is required if the taxable turnover of a business exceed MVR 1,000,000 in a year. In case of supply of tourism goods and services or imports of goods compulsory registration is requires even if turnover does not exceeds the limit (Ministry of E conomic Development, 2015). Along with the above two there are few other important taxes and fee like Zakat-al-mal, Green Tax, Bank Profit Tax, Remittance Tax, airport service charges and development fee, tourism land rent, duty free loyalty, re-export loyalty. Zakat is a special type of religious tax or obligation on wealthy or rich Muslims for the wellbeing of poor people (Muneeza, 2017). Zakat-al-mal can be paid to MIRA through form MIRA-510 (Maldives Inland Revenue Authority, 2013). Green Tax was introduced as a support to government for environmental protection programmes (Maldives insider, 2014). It is payable by foreigners of Maldives on their stay in any tourist hotels, resorts, vessels or guesthouses. It is charged at a rate of 6 US Dollars per day (Ministry of Economic Development, 2015). Bank Profit Tax is imposed on the net profit of banks at the rate of 25%. It is required to be paid by all the banks operating in Maldives including the branches of banks of foreign countries (Maldives Inland Revenue Authority, 2013). A detail discussion on the features of Business Profit Tax is provided in this report. Business Profit Tax: Business Profit Tax is levied on the profits earned by all the businesses conducted in Maldives under Business Profit Tax Act (Act no: 5/2011). It is imposed if the taxable profit from business exceeds MVR 500,000 in a year. Banks, foreign investment, charities, shipping or aircraft businesses are exempt from BPT (Business Profit Tax Act, 2011). Registration for BPT: For the purpose of BPT, registration is required for every person who carries out any business related to any trade, commerce, manufacture, profession or any kind of adventure with characteristics of trade, agriculture, forestry, fishing, horticulture, poultry farming, renting of an apartment, aqua- culture or any other activity carried with a purpose of earning profit in Maldives. Person includes resident or non- resident companies, partnership firm, cooperative society and individuals. Business Registration Form (MIRA 101) is used for registration of business which is available on website of Maldives Revenue Authority (MIRA, 2013). Tax Rates: A tax at the rate 5% is charged on the resident companies of Maldives which are registered in Maldives Companies Act (law no.: 10/96) if its income is earned from: Business conducted wholly from outside Maldives; Financial instruments like bonds, debenture, share etc. which were received from any person who is non-resident of Maldives or is a resident subject to an intention of carrying a project of capital nature outside the Maldives; Loans of any kind; Royalties receivable from a person who is non-resident of Maldives; Any kind of property located outside Maldives Do not have any income from other source or any other business. Tax rate of 15% is applicable to partnership firm, companies and other person on business profits derived as: Rent received from leasing any land and building situated in Maldives; Profit occurred from any business by means of permanent establishment in Maldives; Management fee or royalties receivable from a resident person or from a non- resident person having a permanent establishment in Maldives. Further a Withholding Tax of 10% is levied on a person who makes any payment mentioned in section 6 of the Act to a non-resident which are: Royalty, rent or any such other payment in consideration of any machinery, plant, equipment or any other asset used for business purpose; Payment made for computer software usage; Payment in respect of research and development; Any payment made for performance of public entertainers; Management fee, technical or personal service charges or any commission; Rent for cinematographic films in Maldives (Business Profit Tax Act, 2011). Accounting period and basis of accounting: As mentioned in tax- guide of Maldives Inland Revenue Authority, (2016) the calendar year (1st January to 31st December) is required to be adopted as accounting year in accordance with the amendment made in TR-2015/B46. Branches and subsidiaries of overseas companies operating in Maldives must also follow calendar year for preparation of their business accounts. For the purpose of Business Profit Tax those business whose annual turnover does not exceeds MVR 5,000,000 can opt cash basis for the preparation of business accounts while businesses with turnover exceeding MVR 5,000,000 must follow accrual basis of accounting. In accrual basis the preparation of accounts should be in compliance of: International Financial reporting standards (IFRS); or Standards of accounting as issued by Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) Tax Return and Tax Payment: A person who is liable for registration under Tax Administration Act, 2010 (Act), not being a company, partnership firm, person who has to prepare accounts mandatorily as per law is excused from tax return submission if gross income of that person is within the ceiling limit prescribed by MIRA. Every person who is required to file tax return of a particular tax year should include a computation of taxable profit of or loss incurred for that particular year and a tax assessment on that year in accordance with the Act. The tax return should be filed on or before 30th April of next year by any person not mentioned in section 17(d) of BPT Act, 2011. Business Profit Tax is required to be paid in three instalments i.e. first and second interim payment along with Statement of Interim Payment MIRA (303) and Final payment along with BPT Return MIRA (304). Financial statement should also be attached while submitting BPT Return. According to section 23 of BPT Act, the first interim payment must be paid by 31st July of the current tax year and second payment by 31st January of the next year. The amount of first and second payment each should be calculated on the basis of assessed tax of previous year or in case where person was not chargeable to tax previous year that it should be on the basis of reasonable estimation of tax of following year and such amount of payment would be half of the assessed or estimated tax. In case, if the assessed or estimated tax is less than or equal to MVR 2,000 than this section would not be applicable. As per section 24 of BPT Act, 2011, the balance amount of current years tax should be paid by the due date of filing tax return of that year. In case of failure in payment of tax by due date an interest at the rate of 5% per annum is charged from one month after the due date till the date of payment of tax. Withholding Tax is to be paid along with WHT return (MIRA 301), on or before the 15th day of the month which is next to the month in which payment entitled to WHT to the non-resident was made or adjustment in accounts was done, whichever falls earlier (Business Profit Tax Act, 2011). Penalties and Interest: On non-payment of Business Profit Tax: Penalty of 0.05% of the amount of tax which is not paid is charged per day, up to a limit of twice the amount of tax which is not paid or MVR 250,000, whichever is greater. Interest at the rate of 5% p.a. on the unpaid amount of tax from one month after the due date till the date of payment of tax is also charged. On non- submission of BPT Return: In case the tax liability is nil, penalty of MVR 50 per day, up to a maximum limit of MVR 125,000. If there is a tax liability then penalty would be MVR 50 per day, up to a limit of double of amount of tax. On non- payment of Withholding Tax: Penalty of 0.05% of the amount of tax which is not paid is charged per day, up to a limit of twice the amount of tax which is not paid or MVR 250,000, whichever is greater. Interest at the rate of 1% is charged on the unpaid amount of tax. On non- submission of WHT Return: Penalty of MVR 50 per day, up to a limit of double of amount of tax (Maldives Inland Revenue Authority, 2016). Tax incentive to Special Economic Zone: Apart from incentives from various taxes, tax concession is allowed in Business Profit Tax in respect of various investments made and business conducted in Special Economic Zone (Special Economic Zone Act, 2014). Full exemption from BPT for providing necessary services and setting up infrastructure in a SEZ. Exemption from BPT for investing or setting up business in different industry in SEZ are: For hotels, tourism, real estates, BPT is exempted for first 2 years. For manufacturing, logistic, transportation, building ports, communication, it is exempted for first 20 years (first 15 year in shareholders dividend). Education, housing, health, research and development, operating and building of airports, it is exempted for first 10 years. In case of financial services, exemption is for first 10 years and 5 years on shareholders dividend. Sports and other businesses, exemption is provided for first 5 years. Impact of tax system in Maldives Economy (economic growth, government revenue and wealth distribution): Gross Domestic Product is the main indicator in determining the economic growth of a country. Taxes have a dual effect on the GDP, on one hand saving and investment of people decreases by imposition of taxes which negatively effects the economic growth, but on other hand the revenue earned by government through corporate taxes, goods and service taxes and other taxes have an important role in increasing the Gross Domestic and National Product of a country and ultimately the economic growth. In 2016 there has been an estimated rise of 3.9% in GDP from 2015 in Maldives. Constriction and tourism sectors are the main contributors in economic growth of Maldives (Maldives Monitory Authority, 2016). Earlier Maldives was ideally a tax free economy and treated as tax heaven country by the foreign investors as it was more profitable and feasible for them to invest in this country as compared to other countries. Maldives economy is largely dependent on tourism and fishing. Foreign investment attraction was an important factor of economic growth in Maldives, but an effective source of government revenue generation was greatly required to enable government to provide basic services and facilities to general public. Passing of Business Profit Tax Act and Tourism Goods and Service Act in 2011 was a way forward in generating revenue for government (Waheed, 2011). The government of Maldives earned total revenue (excluding grants) of MVR 17.67 billion in 2016, an increase of approximately MVR 1.0 billion from previous year. This was mainly because of rise in tax revenue. The tax revenue showed an increase of MVR 868.8 million from the last year with a total of 13.14 billion in 2016. The in troduction of Green Tax in November 2015 made a significant impact on the increase in tax revenue. Total Green Tax collected in 2016 was MVR640 million. Rise in tax revenue was also majorly contributed by increase in General Goods and Service Tax. Tourism Goods and Service Tax (MVR 3.98 billion) and Business Profit Tax (MVR 2.71 billion) were the main contributories in the total tax revenue of 2016 followed by General Goods and Service Tax of MVR 2.23 billion (Maldives Monitory Authority, 2016). Business Profit Tax, being the second major contributories in tax revenue showed an increase of MVR 35.3 million from 2015 and MVR 1.31 billion from 2012. It has contributed 15.3% in total revenue of government in 2016 slightly lower than previous year. The proportion of Business Profit Tax and total tax revenue in GDP is 5% and 23% respectively. The Business Profit Tax was comparatively low than the expected one which shows that growth in domestic economy of Maldives was slower during 2015 (Maldives Monitory Authority, 2016). The contribution of BPT (including withholding tax) in total revenue of Maldives Inland Revenue of Authority was 18.87% in 2016 (Maldives Inland Revenue Authority, 2016). In 2015, revenue collection through Business Profit Tax was MVR 2.64 billion which was 8.1% greater than the BPT collection of 2014. This increase was due to rise in the profits of businesses in 2014. Contribution of Business Profit Tax in total revenue of government in 2015 was 20.5% which is quite a significant proportion (Maldives Inland Revenue Authority, 2015). Tax is major source of revenue which ultimately affects the budget of government. With a sufficient amount of revenue a strong budget can be framed aiming to improve the economy of country in all perspective. Tax is charged mainly to raise government revenue which in turn is used for providing basic facilities to public, infrastructure development, providing assistance to poor class of society and reducing the gap between poor and rich people and improving the living standard. Another aim of taxation is to make people avoid the use of certain harmful goods like alcohol, drugs, etc. An important aim of taxation is proper allocation of wealth and removing the inequalities from society by collecting higher amount of tax from rich people and using that for providing benefits to poor people. For instance, as given in Business Profit Tax Act (2011), Business Profit Tax is charged on those businessmen whose taxable profit exceeds MVR 500,000 per year which means very small businessmen with profit less than MVR 500,000 in a year are exempted from paying tax and burden of tax ultimately falls on large business bringing the equalities to some extent. But the problem is that a same rate of 15% is charged on all kinds of business whether small, medium or large or whether it is a partnership firm or a company or other person which is actually not fair. A better option would be to charge tax on progressive basis i.e. higher tax rates for those business earning high profits lower tax rates for those earning low profits. This would bring an optimum allocation of income and wealth in Maldives. Conclusion: Tax system of Maldives is relatively new system which came into force by establishment of Inland Revenue Authority (MIRA) in 2010. The authority manages the various tax systems prevailing in Maldives very systematically and effectively. MIRA has a major contribution in generating total revenue for Maldives government. The two main source of revenue for MIRA is Business Profit Tax and Goods and Service Tax (including Tourism Goods and Service Tax and General Goods and Service Tax). The newly introduced Green Tax for environmental protection purpose also showed a significant contribution in increase in total tax revenue of 2016. Zakat- al- mal has its own moral importance. It is a kind of social and ethical obligations on the rich Muslim people to contribute in welfare of poor people. Few other important taxes are the Bank Profit Tax, Remittance Tax, airport service charges and some other fees and loyalties. Business Profit Tax is a very important part of whole taxation system of Maldives which is imposed on the businesses operating there. Very small business with profit less than MVR 500,000 is exempted from BPT. A tax rate of 15% is levied on partnership firm, companies and other persons and 5% of tax is charges on profits earned from outside source by resident companies. BPT also includes Withholding Tax of 10% charged on the payments mentioned in section 6 of BPT Act made to non- residents. BPT contributes around 15% in total revenue of Maldives government. BPT contributed 5% in economic growth of Maldives measured as percentage of GDP. Taxes have a dual effect in economic growth of a country. On one side it reduces the income of public, increases the price of goods and services which leads to fall in consumption and negatively affects growth but at the same time the increase in government revenue through taxes leads economic development by making investment in education, health, infrastructure and proper wealth distribution. An efficient tax system helps in systematic wealth distribution, reducing the inequalities existing in society by applying the concept of justice and impartiality in designing the allocation of tax burden. BPT helps in this motive to some extent as it is exempt for very small businesses, for businesses establishing or investing in SEZ. References: Brown, K. B. (2017). Taxation and development- a comparative study. USA: Springer. Global security. (n.d.). Maldives- economy. Retrieved from https://www.globalsecurity.org/military/world/indian-ocean/mv-economy.htm. International Monetary Fund. (2016). 2016 Article IV consultation-press release; staff report;and statement by the executive directors for Maldives. Retrieved from https://www.imf.org/external/pubs/ft/scr/2016/cr16135.pdf. Invest Maldives. (2014). BPT- Business Profit Tax Act. Retrieved from https://investmaldives.org/investmaldives/laws-and-regulations/bpt-business-profit-tax/. Maldives Inland Revenue Authority. (2013). Business Profit Tax (BPT) starts on 18 July 2011. Retrieved from https://www.mira.gov.mv/flyers/BPT%20-%20General%20Information%20(English).pdf. Maldives Inland Revenue Authority. (2013). GST- Goods and Service Tax. Retrieved from https://www.mira.gov.mv/Gst.aspx. Maldives Inland Revenue Authority. (2013). Unofficial translation of Business Profit Tax Act, 2011. Retrieved from https://www.mira.gov.mv/laws_regulations/BPT%20Act%20English%20Translation_v2.pdf. Maldives Inland Revenue Authority. (2016). Tax guide for foreigners doing business in Maldives. Retrieved from https://mira.gov.mv/forms/m829-tax-guide-for-foreigners-doing-business-in-the-Maldives.pdf. Maldives Inland Revenue Authority. (2017). Revenue series: total revenue collection (2010-2017). Retrieved from https://www.mira.gov.mv/Publications.aspx#tabs1-RevenueSeries. Maldives insider. (2014). Maldives introduces green tax. Retrieved from https://maldives.net.mv/12120/maldives-introduces-green-tax/. Maldives Monetory Authority. (2016). Annual Report 2016. Retrieved from https://www.mma.gov.mv/documents/Annual%20Report/2016/AR2016%20(English).pdf. Ministry of Economic Development. (2015). Doing business in Maldives 2015. Retrived from https://www.trade.gov.mv/dms/161/1453198480.pdf. Muneeza, A. (2017). Administration of Zakat on wealth in Maldives.International Journal of Management and Applied Research, Vol. 4, No. 1, pp. 58-71. Naseer, A. (2014, January 21). Maldives tax system review: what is the optimal tax rate on tourism? Vnews. Retrieved from https://www.vnews.mv/15049. Shaahunaag, F. (2017). Maldives records MVR 14.5 billion revenue in 2016. Mihaaru. Retrieved from https://en.mihaaru.com/maldives-records-mvr-14-5-billion-revenue-in-2016/. The Presidents Office Male, Republic of Maldives. (2017, April 5). Everyone equally subject to tax regulation [Press release]. Retrieved from https://www.presidencymaldives.gov.mv/Documents/4811_d36c93c8-b_.pdf. Waheed, A.H. (2011). Maldives and the introduction of its very first taxation regime. Maldives Law Review, Vol. 1, Retrived from https://www.lawreview.org.mv/articles.php?action=viewaID=2pageget=1.

Destin Brass Products Co. Case Study Essay Example For Students

Destin Brass Products Co. Case Study Essay Destin Brass Products Co. has been established and grown to bring forth valves ( 24 % of the company gross ) , pumps ( 55 % of the company gross ) , and flow accountants ( 21 % of the company gross ) . This paper will exemplify the recommended solutions for the direction of the company that are seeking to measure the competitory tendencies of the market for the mentioned merchandises, and seeking to get down new schemes to cover with these tendencies. Finance and accounting, as mentioned by Ambler ( 2008 ) are the necessities and footing to the short and long being of any type of companies. The high fight of market requires that all types of concerns have a comprehensive apprehension to the costs and net incomes in much item in order to ease determination doing procedure. In Destin Brass instance, the company tried to set up a high trade name name for bring forthing the valves, but subsequently as an enlargement to the concern, the company included two new merchandise lines which are the pumps and the flow accountants maintaining in head the similarities of productions and the handiness of the productions capacity. Destin Brass did non hold a distinguished rival in the valves market because of the high quality of the valves produced, but there is a monolithic competition in the pump and flow accountants market. This paper will capture a clip of the company concern where there is a high competition on the pumps monetary values and the solution of increasing the monetary values of the flow accountants did non alter the market. The direction is in demand to reconsider its fiscal scheme in order to face competition. Outline1 The fiscal analysis2 Merchandise costs as per the ABC information3 Comparing the ABC with the criterion and the revised unit costs4 Strategic deductions of the fiscal analysis5 The following month consequences6 Decision The fiscal analysis After measuring the current fiscal state of affairs of Destin Brass, The analysis hereby will join forces to reply the direction inquiries, and illustrations of the below solutions had been used by concern and it proved to hold an influence of determination devising procedure sing the company scheme. The solutions are as follows: Merchandise costs as per the ABC information From the given information in the instance survey, there is a connexion between the merchandises costs and the costs incurred by the activities related to the productions of each merchandise line. The reply to this issue is to fix cost estimations for the three merchandises by using the necessities of the activity based costing, table 1 shows that the ABC costs of the valves is 37.8, the pumps is 48.82, and the flow accountants is $ 100.63. The ABC method attempts to link the indirect costs to the merchandises, and accordingly handle them as direct costs. Based on the instance analyze fiscal information, the computations in table 1 have been prepared by utilizing the followers: Making a cost pool for the machine depreciation and care cost, and apportion the merchandises based on machine hours. Making a cost pool for having and material handling costs by ciphering the figure of minutess consumed for every merchandise. Making a cost pool for technology costs by ciphering how much technology is consumed by each merchandise. Comparing the ABC with the criterion and the revised unit costs In this comparing, it will look the cost of each merchandise under the three types of bing computation methods and the ground why they are different. Table 2 shows the comparing. The three bing methods dainty direct costs which are run labour and stuff, in the same manner. Furthermore, fiscal experts support the thought that direct costs is non the existent job as this can be tracked to the merchandise, but the issue is that bing computations gets complicated when seeking to apportion the operating expenses ( Indirect costs ) . The allotment of operating expenses is where the differences in costs come under the three bing methods. .u4341d028f4aff77e19a9595657a76823 , .u4341d028f4aff77e19a9595657a76823 .postImageUrl , .u4341d028f4aff77e19a9595657a76823 .centered-text-area { min-height: 80px; position: relative; } .u4341d028f4aff77e19a9595657a76823 , .u4341d028f4aff77e19a9595657a76823:hover , .u4341d028f4aff77e19a9595657a76823:visited , .u4341d028f4aff77e19a9595657a76823:active { border:0!important; } .u4341d028f4aff77e19a9595657a76823 .clearfix:after { content: ""; display: table; clear: both; } .u4341d028f4aff77e19a9595657a76823 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u4341d028f4aff77e19a9595657a76823:active , .u4341d028f4aff77e19a9595657a76823:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u4341d028f4aff77e19a9595657a76823 .centered-text-area { width: 100%; position: relative ; } .u4341d028f4aff77e19a9595657a76823 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u4341d028f4aff77e19a9595657a76823 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u4341d028f4aff77e19a9595657a76823 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u4341d028f4aff77e19a9595657a76823:hover .ctaButton { background-color: #34495E!important; } .u4341d028f4aff77e19a9595657a76823 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u4341d028f4aff77e19a9595657a76823 .u4341d028f4aff77e19a9595657a76823-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u4341d028f4aff77e19a9595657a76823:after { content: ""; display: block; clear: both; } READ: Climate change (term paper) EssayIn the criterion cost accounting there is no attempt made to track the operating expense costs to the merchandises. It is believed that indirect costs can non be related with the merchandises that s why they are summarised and so allocated to the merchandises based on the given allotment factor ( cost driver ) . In Destin Brass instance, the operating expenses which include the receiving and stuffs managing, packing and transportation, and depreciation and care for $ 680.000 per month, are allocated based on the tally labour dollars. Consequently, every merchandise is allocated a per centum of the operating expenses in the same ratio that t he merchandise consume of labor ( valves 0.5 tally hours per unit, pumps 0.5 tally per unit, and flow accountants 0.4 run per unit ) . See table 3 for inside informations. The revised cost accounting makes portion of the indirect costs as direct. The stuff and handling costs are treated in a separate manner, but non the best cost driver had been chosen ( direct stuff dollars ) , as it would be seen in the ABC. Furthermore, setup labor is assigned straight based on the apparatus hours for which information is available. The staying operating expenses are allocated on the footing of machine hours. As mentioned by Peggy Alford, this gives an thought why rivals are cutting monetary values on pumps. It is now clear that costs of the pumps is overstated utilizing the criterion bing method while the costs of the valves are unostentatious. But, bing can be improved particularly that the flow accountants monetary value is non truly explained that they are cheaper to bring forth than it was calculated by the criterion bing method. The ABC method paths every bit much as possible of the indirect disbursals of the merchandises and services. So any disbursal incurred of a merchandise is straight charged to that peculiar merchandise instead than distributing the disbursal over all the merchandises. When disbursals incurred of a figure of merchandises, they are gathered and allocated based on a proper cost driver. In this manner, the allotment will be done in proportion to the existent costs ingestion by all the merchandises. Table 1 had shown the ABC costs computations for the three merchandises. Now, we can see that flow accountants have been subsidised by pumps and selling them for $ 97.07 is loss devising ( be $ 100.63 ) instead than at 42 % gross border. But, subsidizing flow accountants had made pumps less profitable while selling monetary value of $ 81.26 corresponds to 43.37 % gross border. The costs of the valves are the same under both the criterion and the ABC methods. Strategic deductions of the fiscal analysis Harmonizing to Bhimani et La ( 2008 ) , extremely competition concern environment requires a comprehensive costs understanding, and a proper costing scheme is indispensable to ease determination doing. In Destin Brass instance, the direction is confronting a determination whether to travel on in the pumps market in malice of the monetary values autumn and decreasing net income borders or to cut this concern line and dressed ore merely on the valves and the flow accountant s merchandises which are profitable. But, doing a determination following the standard costing method would hold caused black effects for the company as it would cut the profitable merchandise and concentrate on merchandises that are selling at a loss. Destin Brass is an ideal illustration of how critical is to hold an accurate bing method to follow to supply strategic determination devising. But, in malice of the importance of the fiscal and accounting information that the bing method will supply, the direction vis ion should be supported by the information non merely dictated by the accounting information. The following month consequences In the clip where cost accounting does non count for the cost allotment to find the costs of the merchandises, it does non impact the bottom line. Here, presuming that the measures of the productions and the gross revenues, stock list, selling monetary values stay the same, and the monetary values of stuff, labor, managing remains the same. The net net income would be the same as the net net income of the last month. The bottom line will be affected in instance the consequences demoing in the ABC method are considered and the merchandising monetary values are adjusted. .u491145dbfcef4174cfeec976c969703a , .u491145dbfcef4174cfeec976c969703a .postImageUrl , .u491145dbfcef4174cfeec976c969703a .centered-text-area { min-height: 80px; position: relative; } .u491145dbfcef4174cfeec976c969703a , .u491145dbfcef4174cfeec976c969703a:hover , .u491145dbfcef4174cfeec976c969703a:visited , .u491145dbfcef4174cfeec976c969703a:active { border:0!important; } .u491145dbfcef4174cfeec976c969703a .clearfix:after { content: ""; display: table; clear: both; } .u491145dbfcef4174cfeec976c969703a { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u491145dbfcef4174cfeec976c969703a:active , .u491145dbfcef4174cfeec976c969703a:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u491145dbfcef4174cfeec976c969703a .centered-text-area { width: 100%; position: relative ; } .u491145dbfcef4174cfeec976c969703a .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u491145dbfcef4174cfeec976c969703a .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u491145dbfcef4174cfeec976c969703a .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u491145dbfcef4174cfeec976c969703a:hover .ctaButton { background-color: #34495E!important; } .u491145dbfcef4174cfeec976c969703a .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u491145dbfcef4174cfeec976c969703a .u491145dbfcef4174cfeec976c969703a-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u491145dbfcef4174cfeec976c969703a:after { content: ""; display: block; clear: both; } READ: Antonin Scalia EssayDecision The costing methods used to place the strengths and failing of the concern public presentation helps direction to make up ones mind whether operations require any betterments. This indicates that the inaccurate costing allotment can take to either over or under pricing. Consequently, this will forestall the direction from taking the company to do higher net income, retain clients or take the company to wrong strategic determinations.

Pros and cons of Lithuanias integration to the EU Essay Example

Pros and cons of Lithuanias integration to the EU Essay In 1999 Lithuania was invited to negotiate for the EU membership. Lithuania was recognized as an equal partner , thus the door to the EU, one of the most powerful political and economical unions, was opened. Although Lithuania strives to join the EU structures and the markets of the West economy, controversies surrounding the necessity of Lithuanias integration to the EU have reached its peak of debates. This question can be solved considering the main economical problems of Lithuania and the ways to solve them. They can be defined as relations with Russia, problematic situation in agricultural sector , fear to be inadequate to compete with the West. The first problem of Lithuania is relations with Russia. In spite of increased integration with the EU, Russia remains Lithuanias main trading partner. The crisis could therefore worsen the trade balance and slow down growth in the industrial sectors exporting to Russia. Even if political aspects of these relations the imperialist ambitions of Russia, the fluctuation of democracy and political stability could be denied, Lithuania still should admit that the crisis of Russia proved how it is ruinous to have affairs with such unforeseen partner. So, in comparison with Russia, the EU remains progressive and successful economical union that guarantees for each member their place in European market. The second reason of integrations to the EU enmity is problematic situation in agricultural sector. We will write a custom essay sample on Pros and cons of Lithuanias integration to the EU specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Pros and cons of Lithuanias integration to the EU specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Pros and cons of Lithuanias integration to the EU specifically for you FOR ONLY $16.38 $13.9/page Hire Writer In fact, the majority of farmers are still incapable to compete, their labour productivity is low, the cost price is high. Lithuania still cannot implement and enforce the Community veterinary and sanitary requirements and upgrade the establishments to meet Community standarts. In addition, little progress is made in land reform and privatisation. Delays in land titling have seriously constrained the development of a proper land market. Further restructuring is needed for a more efficient and viable farming sector. On the other hand, if Lithuania does not join the EU, the number of farmers will have to decrease anyway. However, Lithuania will have to solve the problems of farmers employment and competition. So, in this case the question , whether Lithuania is able to solve it with its own means and to cope with all problems alone, can be derived. The EU allies claim that the EU subsidies more means than Lithuania will have to contribute to the EU budget. In conclusion, despite the EU promises to solve such problems of its future members, the agricultural sector remains the key area, which Lithuania has to improve itself. The third and final problem of Lithuania to join the EU is inadequacy to compete with the West. Some interest groups have already felt problems that are waiting after Lithuanias integration to the EU. The enterprises that at the moment get the financial support of the state, will incur losses. The enterprises trading with Russia also will incur losses , because the import barriers will increase. On the other hand, the barriers joining the common EU interior market will be abolished. According to some of the EU allies, although Lithuanias participation in the common EU market will increase competition, this will induce business and enterprises to reformation, cause the maintenance of Lithuanias economy and increase the level of livelihood. The best thing that the membership can offer to Lithuania is the restriction of bureaucracy in business sector and the concession of more freedoms and opportunities for initiative businessmen. In conclusion, despite the fact that the future membership to the EU will cause for Lithuania competitive pressure and it will condemn Lithuania to reform and revive its industry and agriculture, but in the long period the membership to the EU should guarantee for Lithuania both economical and financial stability. Summing all pros and cons in controversies surrounding Lithuanias integration to the EU, it is useful to remind that Lithuanias integration is delayed, because such state as Lithuania presents many problems. The most important of them are difficult relations with Russia, problems in agricultural sector and inadequacy to compete with the West. To decide whether such state as Lithuania has to join the EU, is a very debatable question. Indeed, the fact that integration causes not only positive, but also negative effect propose a conclusion that Lithuania, in comparison with other stronger states, still should wait.

buy custom Computer Networks and Information Technologies essay

buy custom Computer Networks and Information Technologies essay Web application is the application that can be accessed by the use of a network. A web application can also be described as an application of computer software that is coded using a language that is supported by a computer system. Web applications can be developed either traditionally or by the use of AJAX. The traditional way of developing a web application involves the use of logical chunks called tiers (Tanenbaum, 2002, p. 123). There are different tiers namely one tier, two tier, three tier and n tier. The web browser is usually developed by the first tier, and it is usually the engine that uses the changing web content technology. The second tier usually forms the application logic and the third tier forms the storage part of the web application. The web browser or the first tier usually sends requests to the second tier which services them by inquiring and updating the databases that generate a user interface. This method is focused on the server side to create a web applicatio n. The traditional method can be contrasted with the AJAX method. This is a web development method that is used on the client side. It creates a web application by the use of asynchronous JavaScript (Tanebaum, 2002, p. 124). The difference between the two methods is that the traditional method is server related and synchronous while AJAX is client related and asynchronous.The following problems can be encountered when using the Ajax. First is that the pages that are usually created using a lot of Ajax requests do not always register themselves automatically with the history of the browser. This means that if a client clicks the back button of the browser then he or she may not be returned to the earlier state of the Ajax enabled page but instead he or she may be returned to the last page visited before it (Thomas, 2005, p. 76). Secondly, the dynamic page updates may interfere with the interactions of the user especially if the internet is unstable. This problem will, however, depend on the nature of the Ajax application that has been used. An example of this problem is when a user is editing a search field he may trigger a query to the server to complete the search but the user will not know that a pop up for a completed search is coming and the user may proceed to do something else because of the delay of the pop up window (Thomas, 2005, p. 78). Thirdly, interfaces that are powered by Ajax may increase the number of requests that are generated by the user to web servers and their databases. This will lead to delayed responses and create the need of additional hardware.Question 2A protocol is a set of rules or guidelines which guide the operations of the software and hardware of computers. The four main protocols of the web service are the Simple Object Access Protocol, Hypertext Transfer Protocol, Internet protocol and Transmission Control protocol. The SOAP is used to access information from the web by the user. Every message in this protocol has a sender, a final receiver and intermediaries. This protocol allows different sites to communicate with each other. HTTP is an application protocol. It is a protocol used in information systems that are distributive and collaborative in nature. It is the foundation of communicating data on the World Wide Web. The Internet Protocol is a synthesis of several developments that have been there since the sixties and they are used in the internet and the local area network (Aagesen, 2010, p. 154). It has four layers, which help in its functioning namely link, internet, transport and application layers.Advantages of using web servicesThey provide services for the third parties on the internet. The third parties are usually the users of websites. They also do not need any procedures for upgrading them because there is usually a constant implementation of new features on the server. Another advantage is that web services do not require any complicated procedures when they are being set up. The only thi ng that is needed is a web browser that is compatible with the web applications (McClure, 2001. p. 178). Another advantage is that web applications blend easily with other web procedures that are focused on the server side, for example, email. The web service also provides a platform that is compatible across all networks. This is because they function within a single web browserDisadvantages of using web services.One of the disadvantages of the web services is that the applications of the browser usually rely on application files that are accessed on servers that are remote and they are accessed through the internet. This means that when there is an interruption in the network, the application cannot be used. Another disadvantage is that web services function well with web browsers that are compatible. This means that if a browser lacks certain features or does not follow a particular platform then certain functions may not be carried out by users, and this may affect the users dir ectly (McClure, 2001, p. 178). Another disadvantage is that web services depend on the availability of the server that is delivering the application. This means that if a server is destroyed or closed then the users will be affected.Web orchestrationThis can be defined as an arrangement, coordination and management of a computer system. Orchestration usually relates the way business processes are executed. It aligns the business requests with the applications and infrastructure. Web orchestration usually creates applications which are aligned and can be scaled down on the basis of needs of each application (Shannon, 2006, p. 114). Orchestration also helps in management processes such as billing and metering by providing a centralized management of resourcesWeb choreography, on the other hand, is a business process modelling language. It describes protocols that help in the cooperation of the web services. It is a form of service composition in which the way protocols between several partners interact is defined from a global perspective. The main distinction between web orchestration and web choreography is between the languages that are the business process execution language (WS-BPEL) and the web service choreography description language (WS-CDL). Another difference is that web orchestration is an executable process while web choreography is a collaboration of many interested parties. Web orchestration, therefore, focuses on the execution of specific business processes while web choreography focuses on the interactions between web services (Shannon, 2006, p. 109).Question 3One tierThis is a computer system which constitutes a configuration, a mainframe host and a directly connected terminal. The advantage of this tier is that it is easy to develop and maintain. The disadvantage is that it is shallow and does not recognise most of the software and web browsers used by most computer systems.Two tierThis is where resources are requested by the client and a dire ct response is initiated by the server using its resources. The server, therefore, does not require the help of another application to provide part of the service. Its advantage is that it directly responds to all the requests of the client and hence the client communicates directly with the server (Chaba, 2011, p. 23). Its disadvantage is that it uses only simple file sharing techniques and, therefore, cannot be used by complex files. It also does not facilitate information systems that are very large.Three tierHere, the client implements the presentation logic and the business logic is implemented on the application server. It has three components namely the front-end component which provides portable presentation logic, the back end component which provides access to dedicated services and a middle tier component which enables users to share and control the business logic (Griffiths, 2010, p. 65). Its advantages are that its interfaces are independent from each other and, therefo re, easy functionality. It is also more flexible, and there is increased security and performance. Its disadvantage is that the lack of dependability between the interfaces is bad when there is a problem that needs to be solved by all the interfaces.N tierThese are architectures that are thin all over. Here, the middle tier component connects with various types of services. It integrates and pairs the services to the client and to each other as opposed to the three tiers. Its advantage is that it accommodates all types of services and, therefore, it gives the use a variety of choices hence not limiting what the user can do. Its disadvantage is that the services might be too much to be accommodate and hence making the connection slow. Buy custom Computer Networks and Information Technologies essay

Criminal Law Essay Example | Topics and Well Written Essays - 250 words - 6

Criminal Law - Essay Example rtunity for the federal government to pursue and pressure criminals and terrorists this is one of the effective ways of ejecting criminals including drug dealers and terrorists among others out of their cocoons. Because the Patriot Act is not just confined to the pursuit of terrorists, its focus on other areas of crime makes it an effective tool in dealing with crime in general. The government needs no court approval in order to summon a suspected computer or internet criminal. In the age of technology, with no effective anti-crime legislation such as the Patriot Act, a society is bound to crumble as criminals take control. Because the Patriot Act overrides the civil rights of individuals, the government is at liberty to obtain information about suspected individuals thus it is in a position to uncover and apprehend risky individuals. The act creates the possibility of aborting terrorists’ plans before they are actually executed, thus making it an effective tool for fighting terrorism. Though the Act is effective, the government should come up with an initiative in which every individual is expected to know at least ten neighbors and report any strange behavior of their neighbors as soon as they

Reading response 9 Essay Example | Topics and Well Written Essays - 500 words

Reading response 9 - Essay Example From my personal experience, Arabic students who are learning English manifest a form of interlanguage. I observed that students are having problems in learning English because of the variations of Arabic, where they have Standard and Colloquial varieties and regional dialects affecting their learning of TL phonology through NL phonology. TL phonology problems come from syntax and grammar differences between NL and TL, which impact how L2 learners read the TL. The more that the students relied on a specific or multiple Arabic dialects to translate TL, the more difficult it seems for them to understand TL. However, some students showed interlanguage in how they bridged NL and TL phonology without depending on NL or TL phonology. I noticed how interlanguage may be allowing these students of creating a new mental system that goes outside NL and TL language structures. A universal language mental system can help explain how SLA happens when phonological variations are strong enough and c ertain sounds and syllables present in TL are not practiced in NL. Perhaps this is the way of the human brain of optimizing phonological domains through interlanguage strategies. It would be interesting to gather empirical evidence to back up the use of interlanguage strategies. In Chapter 20, second language speech production’s importance in developing particular SLA skills is discussed through related language theories. Accented TL is an ongoing center of SLA study, especially as age and other social and biological factors affect it. I am interested in focusing on the validity of the Critical Period Hypothesis (CPH) to Arabic L2 learners. Though there are variations to age ranges, CPH basically argues that there is an age limit (from five to fifteen years old) in which students learn the native accent of TL. Some aspects of CPH are true, depending on different internal and external factors. In my teaching

Principles of manegement Essay Example | Topics and Well Written Essays - 1500 words

Principles of manegement - Essay Example Each level of management has its role and contribution to the overall affairs and processes of running an organisation. This is because each unit and each section of an organisation has its function and this comes together in the organisational chart of an organisation which coordinates affairs. The strategic level of management is the topmost level of management and it is involved in the long-term planning and setting the tone for the running of the entire organisation (Hill & Jones, 2012). The strategic level of management is involved with defining the tone of business and affairs because it is made up of the topmost managers who derive their authority directly from the owners of the organisation (Cole, 2013). The operational level management of an organisation consists of the middle ranked managers and they take up management roles that are based on targets and standards set by the top level management (Freeman, 2010). They take up instructions from the top of the organisation and implement them. Usually, they also give instructions to the tactical level management. They are involved in medium term planning and functional units of an organisation (Freeman, 2010). Tactical level management are in charge of the actual implementation of ideas and instructions from the operational level on the ground (Barlow, 2013). They are seen as the frontline managers and they act as supervisors to the working core and the main workers. They are responsible for short-term decision making and they deal with the operational core of the organisation. In Tesco, the CEO and the Board members form the strategic management unit. Down the line, the regional functional managers and store managers who come below the top managers in the organisational chart form the operational core. The supervisors and teams on the retail floor are the tactical managers and they take decisions that are in charge of the day-to-day running of the organisation. Management culture refers

Sources Of Finance For Kfc Finance Essay

Sources Of Finance For Kfc Finance Essay KFC began with Colonel Harland Sanders. He discovered his penchant for cooking when he was only 9 years old. Through the years he grew up to become a personage the world knows as Colonel Sanders, founder of KFC. He reached celebrity status in 1952, when he decided to franchise his famous Kentucky Fried Chicken recipe blends of 11 herbs and spices to the rest of America. By the early 70s, that special recipe reached Malaysia. KFC Holdings owns approximately 27 Kedai Ayamas and 4 Ayamas Depots, making them the nations first branded chicken and chicken-based retain chain. KFC Holdings operates the KFC chain of restaurants in Malaysian, Singapore and Brunei (523 restaurants) and the Rasamas chain of restaurants in Malaysia (about 37 outlets). Sources of finance are where finance comes from. There are three kinds of sources which are Bank loans, Owners (share) capital and Trade credit . Finance is money which is a scarce resource. To obtain it, a business has to compete for it. Individuals, the government and other businesses all seek money to finance their needs. Those with money to lend will lend it provided the rate of return (interest), the risk and flexibility (how quickly the money can be repossessed) are consistent with their expectations. The word lend often implies to short-term; the word invest implies to long-term. Individuals or organisations that lend money, expect to get their money back, with a fixed annual return in a comparatively short time. Those who invest in a company become part-owners share holders. They expect regular payment of cash dividends (whose size varies with the companys success) plus an increase in the value of their shares. A major source of finance for many businesses is the retained profit from sales to customers. A business just starting up or one expanding rapidly has to raise its finance from other sources. There are three kind of finance question which relates the finance which the management should consider. Duration: for how long is the finance required? Cost: which source of finance is the least expensive? repayment: what level is acceptable Duration Duration depends on the reason the money is needed. No-one would take out a 25 year mortgage to finance the purchase of a personal HiFi. Few people would buy a house with a bank overdraft. Businesses apply the same principles of matching the purpose of finance with the source of finance. This makes sense all round. For the business it ensures that finance is guaranteed as long as it is needed. For the investor it ensures that adequate security is available for the duration of the loan as in the case of a 20 year loan secured against a property that will continue to have value for all the 20 years. Cost In general, businesses look for the cheapest source of finance. The easiest way to compare the cost of finance is to express the annual payment to lenders/investors as a percentage of the amount of finance provided. Interest on a loan can be expressed in percentage terms. So can the rate of return to shareholders. Return on investment in shares = Dividend per share, share price change since the start of year The rate of return expected by shareholders becomes the cost to the business of using this form of finance. Repayment A business should not get into a position where all of its profits are being swallowed up in interest payments. There is a real danger of borrowing too much. The same applies to individuals. Type of sources of finance: government purchase loan stock leasing venture capital hire purchase ordinary shares warrant retailed earning borrowings Ordinary Shares Ordinary shares also known as common stock or voting share is a share of stock giving stockholders the right to vote no matters of corporate policy and the composition of the members of the board of directors. Ordinary shares are issued to the owners of a company. They have a nominal or face value, typically of RM1 or 50 cents. The market value of a quoted companys shares bears no relationship to their nominal value, except that when ordinary shares are issued for cash, the issue price must be equal to or be more than the nominal value of the shares. Preference Shares Preference shares, also called preferred stock or preferred shares, is typically a higher ranking stock than common stock, and its terms are negotiated between the corporation and the investor. Preference shares usually carries no voting rights, but may carry priority over common stock in the payment of dividends and upon liquidate Preference shares may carry a dividend that is paid out prior to any dividends being paid to common stock holders. Preference shares may have a convertibility feature into common stock. Preference stockholders will be paid out in assets before common stockholders and after debt holders in bankruptcy. Terms of the preferred stock are stated in a Certificate of Designation. From the companys point of view, preference shares are advantageous in that:  · Dividends do not have to be paid in a year in which profits are poor, while this is not the case with interest payments on long term debt (loans or debentures).  · Since they do not carry voting rights, preference shares avoid diluting the control of existing shareholders while an issue of equity shares would not.  · The issue of preference shares does not restrict the companys borrowing power, at least in the sense that preference share capital is not secured against assets in the business. Loan Stock Common or preferred stock shares that are used as collateral to secure a loan from another party.  The loan will earn a fixed interest rate, much like a standard loan, and can be secured or unsecured.  A secured loan stock may also be called a convertible loan stock if the loan stock can be directly converted to common shares under specified conditions and with a pre-determined conversion rate, as with an irredeemable convertible unsecured loan stock (ICULS).   Retained Earnings Retained earnings refer to the portion of net income which is retained by the corporation rather than distributed to its owners as dividends. Similarly, if the corporation makes a loss, then that loss is retained and called variously retained losses, accumulated losses or accumulated deficit. Retained earnings and losses are cumulative from year to year with losses offsetting earnings. Retained earnings are reported in the shareholders equity section of the balance sheet. Companies with net accumulated losses may refer to negative shareholders equity as a shareholders deficit. A complete report of the retained earnings or retained losses is presented in the Statement of retained earnings or Statement of retained losses. The major reasons for using retained earnings to finance new investments, rather than to pay higher dividends and then raise new equity for the new investments, are as follows: a) The management of many companies believes that retained earnings are funds which do not cost anything, although this is not true. However, it is true that the use of retained earnings as a source of funds does not lead to a payment of cash. b) The dividend policy of the company is in practice determined by the directors. From their standpoint, retained earnings are an attractive source of finance because investment projects can be undertaken without involving either the shareholders or any outsiders. c) The use of retained earnings as opposed to new shares or debentures avoids issue costs. d) The use of retained earnings avoids the possibility of a change in control resulting from an issue of new shares. Borrowings Receiving something of value in exchange for an obligation to pay back something of usually greater value at a particular time in the future. Borrowings are divided into three terms. Short term lending may be in the form of: a) An overdraft, which a company should keep within a limit set by the bank. Interest is charged (at a variable rate) on the amount by which the company is overdrawn from day to day; b) A short-term loan, for up to three years. Medium-term loans are loans for a period of from three to ten years. The rate of interest charged on medium-term bank lending to large companies will be a set margin, with the size of the margin depending on the credit standing and riskiness of the borrower. A loan may have a fixed rate of interest or a variable interest rate, so that the rate of interest charged will be adjusted every three, six, nine or twelve months in line with recent movements in the Base Lending Rate. Longer-term bank loans will sometimes be available, usually for the purchase of property, where the loan takes the form of a mortgage. Leasing Leasing is a process by which a firm can obtain the use of a certain fixed assets for which it must pay a series of contractual, periodic, tax deductible payments. The lessee is the receiver of the services or the assets under the lease contract and the lessor is the owner of the assets. The relationship between the tenant and the landlord is called a tenancy, and can be for a fixed or an indefinite period of time (called the term of the lease). The consideration for the lease is called rent. There are two basic forms of lease: operating leases and finance leases. Operating leases Operating leases are rental agreements between the lessor and the lessee whereby: a) The lessor supplies the equipment to the lessee b) The lessor is responsible for servicing and maintaining the leased equipment Finance leases Finance leases are lease agreements between the user of the leased asset (the lessee) and a provider of finance (the lessor) for most, or all, of the assets expected useful life. Suppose that a company decides to obtain a company car and finance the acquisition by means of a finance lease. A car dealer will supply the car. A finance house will agree to act as lessor in a finance leasing arrangement, and so will purchase the car from the dealer and lease it to the company. The company will take possession of the car from the car dealer, and make regular payments (monthly, quarterly, six monthly or annually) to the finance house under the terms of the lease. Hire Purchase Hire purchase is the legal term for a contract developed in the United Kingdom. It is also called closed-end leasing. In cases where a buyer cannot afford to pay the asked price for an item of property as a lump sum but can afford to pay a percentage as a deposit, a hire-purchase contract allows the buyer to hire the goods for a monthly rent. When a sum equal to the original full price plus interest has been paid in equal installments, the buyer may then exercise an option to buy the goods at a predetermined price (usually a nominal sum) or return the goods to the owner Venture Capital Venture capital (also known as VC or Venture) is a type of private equity capital typically provided for early-stage, high-potential, growth companies in the interest of generating a return through an eventual realization event such as an IPO or trade sale of the company. Venture capital investments are generally made as cash in exchange for shares in the invested company. It is typical for venture capital investors to identify and back companies in high technology industries such as biotechnology and ICT (information and communication technology Franchising Franchising is a method of expanding business on less capital than would otherwise be needed. For suitable businesses, it is an alternative to raising extra capital for growth. Franchisors include Budget Rent-a-Car, Wimpy, Nandos Chicken and Chicken Inn Other possible alternatives can be used by KFCH KFC Holdings have been running their operation with all the types of source of finance as stated above. In order to further enhance themselves as well improving their investors relations, they can apply other kind of source to run their business KFC has not issue warrants throughout the financial year. Warrants are, in effect, options granted by the business that entitle the holder to subscribe for a specified quantity of ordinary shares, for a specified price at, or after, a specified time- usually several years following their issue. The business would usually issue the warrants in one of two ways, that is to sell them, in which case it would derive a cash inflow, or attach them to a loan stock issue as a sweetener or incentive to investors to take up the loan stock. Apart from that, KFC can even issue Employees Share Option Scheme at various options. An employee share scheme is one way to give employees a stake in your business and help  improve its performance. As employees normally have to remain with the business to get this benefit, share schemes encourage loyalty and can help you retain valued staff. They act as an incentive or reward and may also help recruitment. (Extracted from Business Link, http://www.businesslink.gov.uk/bdotg/action/layer?topicId=1074472937) In fact, KFC could even use hire purchase to source their finance. Hire purchase is referred to sales promotion device that creates customers purchasing power in the form of a fixed cost, fixed period installment loan, secured by a lien on the purchased item as the collateral. In case of capital equipment, the customer repays the loan from the earnings generated by the purchased asset (which otherwise would have remained unsold due to the customers lack of cash). During the repayment period the buyer has the possession and use but not the ownership (title) to the item. Only upon the full payment of the loan, the title passes to the buyer. Also called installment buying, it is a social innovation that expands the economy with additional income. (Extracted from Business Dictionary.com, http://www.businessdictionary.com/definition/hire-purchase.html) APPENDIX Share capital From the financial statement for the year 2008, KFC holdings issued 1,000,0000 new ordinary shares valued RM1.00 each for the year 2008 and 2007. . However, only 198,275 shares at RM 1.00 each was issued and fully paid. SHARE CAPITAL Number of Ordinary Shares of RM1 each Amount 2008 2007 2008 2007 2008 2007 000 000 RM000 RM000 Authorised At 1 January/ 31 December 1,000,000 1,000,000 1,000,000 1,000,000 Issued and fully paid At 1 January/ 31 December 198,275 198,275 198,275 198,275 Retained Earnings The percentage of net earnings not paid out  as dividends, but retained by the company to be reinvested in its core business or to pay debt. It is recorded under shareholders equity on the balance sheet. The formula calculates retained earnings by adding net income to (or subtracting any net losses from) beginning retained earnings and subtracting any dividends paid to shareholders: KFC Holdings recorded RM 316,703,000 of retained earnings in year 2008 compared to RM 257,611,000 in year 2007 for company. This shows that KFC retained their net earnings higher in year 2008 so that they can reinvest in its core business to pay its debt. Borrowings Borrowings are classified under short term borrowings and long term borrowings. KFC Holdings borrowed RM 20,000,000 in year 2008 while there were no borrowings for the year 2007 under company. On the other hand, KFCs long term borrowings amounted to RM 40,000,000 in year 2008 compared to RM 60,000,000 in year 2007. The total borrowings for the two years were RM 60,000,000 respectively. (Refer note: 26) The term loans granted to the Company are secured by the following: i First and third party charge over certain land and buildings as disclosed in Note 12(b) and Note 15 ii Deposits pledged with licensed banks as disclosed in Note 18 iii Corporate guarantee of the Company and a related company iv Debenture of a subsidiarys assets Company 2008 2007 RM000 RM000 Short term borrowings Secured Term loans 20,000 Unsecured Term loans 20,000 Long term borrowings Secured Term loans 40,000 60,000 Unsecured Term loans 40,000 60,000 Total borrowings Secured Term loans 60,000 60,000 Unsecured Term loans 60,000 60,000 Leasing KFCs leasing is analysed as long term leasehold land and short term leasehold land. The groups long term leasehold land notched RM 63,733,000 in 2008 compared to RM 63,868,000 in 2007. However, their short term leasehold land was RM 68,000 in 2008 while in year 2007, it was RM 73,000. Overall, their total leasing was RM 63,841,000 and RM 63,941,000 for the two years respectively. Leasehold land with an aggregate carrying value of RM30, 434,000 (2007: RM30, 822,000) are pledged as securities for borrowings. Group 2008 2007 RM000 RM000 At 1 January 63,941 62,687 Addition 1,830 Disposal (106) Acquisition of a subsidiary 722 Reclassification from property, plant and equipment 333 Amortisation for the year (822) (803) At 31 December 63,841 63,941 Analysed as: Long term leasehold land 63,773 63,868 Short term leasehold land 68 73 63,841 63,941 INCOME STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2008 Group Company Note 2008 2007 2008 2007 RM000 RM000 RM000 RM000 Revenue 3 2,179,788 1,730,371 97,220 88,000 Cost of sales 4 (1,064,548) (770,048) Gross profit 1,115,240 960,323 97,220 88,000 Other income 22,615 22,797 30,210 26,972 Administrative expenses (118,670) (109,061) (28,757) (22,713) Selling and marketing expenses (837,547) (712,109) Other expenses (6,622) (24) (2,310) (26,229) Operating profit 175,016 161,926 96,363 66,030 Finance costs 5 (7,559) (11,302) (2,887) (5,823) Profit before tax 6 167,457 150,624 93,476 60,207 Income tax expense 9 (47,107) (45,081) (9,522) (23,437) Profit for the year 120,350 105,543 83,954 36,770 Attributable to: Equity holders of the Company 118,535 1 04,269 Minority interests 1,815 1,274 120,350 105,543 Earnings per share attributable to equity holders of the Company (sen): Basic, for profit for the year 10 59.8 52.6 BALANCE SHEETS AS AT 31 DECEMBER 2008 Group Company Note 2008 2007 2008 2007 RM000 RM000 RM000 RM000 Assets Non-current assets Property, plant and equipment 12 615,059 529,658 19,750 19,908 Investments in subsidiaries 13 354,250 353,590 Investment properties 14 898 2,000 585 Prepaid land lease payments 15 63,84 1 63,941 Intangible assets 16 69,835 68,063 Other investment 17 4,500 Fixed deposits 18 6,324 6,324 749,633 674,486 374,000 380,407 Current assets Inventories 19 158,474 112,312 Trade and other receivables 20 128,112 78,972 222,742 156,642 Other investment 17 20,203 Cash and bank balances 21 97,985 140,358 6,797 11,826 404,774 331,642 229,539 168,468 Total assets 1,154,407 1,006,128 603,539 548,875 Equity and liabilities Equity attributable to equity holders of the company Share capital 22 198,275 198,275 198,275 198,275 Other reserves 23 47,705 50,963 22,080 26,560 Retained earnings 24 446,178 352,783 316,703 257,611 692,158 602,021 537,058 482,446 Minority interests 10,232 6,920 Total equity 702,390 608,941 537,058 482,446 Non-current liabilities Retirement benefit obligations 25 3,313 3,758 Borrowings 26 65,944 110,907 40,000 60,000 Deferred tax liabilities 27 31,602 25,036 107 444 100,859 139,701 40,107 60,444 Current liabilities Retirement benefit obligations 25 623 Borrowings 26 75,111 12,080 20,000 Trade and other payables 28 275,424 242,110 6,374 5,985 Current tax payable 3,296 351,158 257,486 26,374 5,985 Total liabilities 452,017 397,187 66,481 66,429 Total equity and liabilities 1,154,407 1,006,128 603,539 548,875

The Christian Stand Taken in Uncle Toms Cabin by Harriet Beecher Stowe

Stowe’s Christian Stand in Uncle Tom's Cabin  Ã‚     Ã‚   The nineteenth century proved to be a period of turmoil for women and the role they would play in an ever-changing America. Women contended with not only hard living in the domestic sphere, but were impacted by the undercurrent of slavery issues. The Anti-slavery movement and Women’s rights movement were bringing forth a new dimension of writers taking hard positions on these issues. Harriet Beecher Stowe became one of the country’s most well known writers who bridged these factions together with her famous book, Uncle Tom’s Cabin. Her position was not from the perspective of women’s rights as much as the rights and freedom of slaves. Stowe appealed to the basis of Christian beliefs and maternal instincts more than that of the assertive and vocal Women’s movement. She deftly steps aside from the more liberal feministic ideas, instead focusing on more traditional aspects of the role of women, particularly mothers. It is through this mode tha t she cries out against the insidiousness of slavery. The role of mother represents not just a domestic maternal figure confined to family, but also a universal figure who is led by Christian beliefs with compassion and empathy towards all who are suffering. The origins of Harriet Beecher Stowe’s beliefs began as a child. Although her mother died when Harriet was five, her mother left an undeniable impact on her children (Adams 20). The image of Roxena Beecher, Harriet’s mother was of a saintly woman who embodied all aspects of a virtuous loving mother. Roxena Beecher had many children and lived in struggling, difficult conditions, much the way Harriet did when she became a mother. According to one biographer, when Roxena died, "she be... ...ns, and not one legal right to protect, guide, or educate, the child of her bosom!"(Hedrick401). The weapon of motherhood is Harriet Beecher Stowe’s strongest ally and her most devout companion. Works Cited Adams, John R. Harriet Beecher Stowe. New York: Twayne Publishers, Inc. 1963. Hedrick, Joan D. Harriet Beecher Stowe A Life .New York: Oxford UP, 1994. Hedrick, Joan D., ed. The Oxford Harriet Beecher Stowe Reader . New York: Oxford UP, 1999. Roberson, Susan. The Stowe Debate Rhetorical Strategies in Uncle Tom’s Cabin . Ed. Mason I. Lowance, Ellen E. Westbrook, and R.C De Prospo. Amherst: University of Massachuetts, 1994. Stowe, Harriet Beecher. " The Minister’s Wooing."" Life and Letters of Harriet Beecher Stowe." The Heath Anthology of American Literature Gen. Ed. Paul Lauter. Boston, New York: Houghton Mifflin Co, 1998.   

Skills Management and Conceptual Skills

Introduction Research by Robert L. Katz found that managers need three basic and important skills: technical, human and conceptual. What is more, these three skills are relatively essential to managers who are at different levels that include first-line, middle, top management positions. There will be a discussion about the importance of conceptual skills that are needed by all managers at all levels, especially by top level of managers. The purpose of this essay is to identify and discuss the importance of conceptual skills that top managers are required to demonstrate.The essay will state why conceptual skills are not so important as much as lower managers through some supporting evidences,why conceptual skills become more important in top management positions than in other positions, and how top managers use conceptual skills in reality. At the end of essay, a conclusion the major findings will be provided. 1 Conceptual skills mean the ability to think and to conceptualize about a bstract and complex situations (Katz, R. L, 1974). It is different from technical skills and human skills.Technical skills tend to be more essential for lower-level managers because they should have the job specific knowledge and techniques to manage the work of non-managerial people (Katz, R. L, 1974). For example, accounts payable managers should know accounting rules and standardized forms very well so that they can solve problems which relevant to accounting fields. Whereas, human skills are important for managers at all levels, because every manager should have ability to work well with other people individually and in a group, all of managers deal directly with people.They should build cooperative spirit and motivate other workers. For example, first-line managers of food servicing company should communicate with producers to know how everything is going and where they should improve, so effective talking is very necessary to the whole company for any level of managers (Robbin s, S. P, 2011). Even though conceptual skills are not so important as much as lower managers, it does not mean lower managers do not use conceptual skills. In some situations, some of their works are related to conceptual abilities.It is little for mid-level managers, and it is not very required for first-level managers. While these lower-level managers should also make decisions to solve problems in some complex problems in their managerial fields. Whereas Katz thought that lower-level managers normally spend relative more time dealing with observable objects and processes, but upper-level managers often deal with abstract and complex ideas. So top managers’ responsibility matches conceptual skills, because top managers should make organization-wide decisions and establish the goals and plans that affect the entire organization (Robbins, S.P, 2011). That is why top managers are supposed not to only pay attention to small things, they should be leaders and have conceptual ski lls to lead the whole company to get more profits and access to success. Turn to lower-level managers, first-line managers are the lowest level of management, they coordinate the work of people who are non-managerial employees, such as producers. While middle managers manage the work of first-line managers (Robbins, S. P, 2011).Therefore, first-line managers should have special skills like technical skills, so that they can know how to supervise those producers to produce goods. 2 Conversely, conceptual skills are probably some of the most important management skills, which are very important to top managers especially. Katz proposed that these skills become more essential in top management positions. The reason for this is that top managers often deal with abstract ideas, and they are responsible for making organization-wide decisions and establishing the goals and plans that affect the entire organization.While conceptual skills can be described the ability to conceptualize about abstract time, they must see the organization as a whole and clear about the complicated relationships between various subunits. Then these abilities are essential to effective decision-making. So from the definition of conceptual skills, top managers should have many necessary skills, first is problem solving, they need to combine the whole organization together and use professional skills in practice to find how a party will be and what it will be like.The second key probably is study as a whole, so it is related to conceptualize about things. So they will not treat an organization as a part of the industry, looking the organization as a whole can help managers make decision or do something effectively. Conceptual skills also include creative thinking, which needs managers should have creative ideas, no matter for human management or the whole part management. In another word, conceptual skill is the ability to think in terms of models, frameworks and broad relationship such as lo ng-range plans.While technical skill has different characteristics of job performance, it does not matter at the operating and professional levels, but as employees are supposed to develop leadership responsibilities, their technical skills become proportionately less important, they increasingly depend on technical skills of their subordinates; in many cases they have never practiced some of the technical skills that they supervise. Conceptual skill deals with ideas, whereas human skill concerns people and technical skill involves things.So conceptual skills conclude knowing how to formulate ideas, so managers who have strong conceptual skills are supposed to have cognitive abilities to solve problems creatively and effectively. Therefore they can create new products, then they can examine a complicated issue or formulate a distinct and specific action. So when top managers make wide-decisions, conceptual skills are necessary, it will help them to do managing work easily and effect ively (Glaser, R. , & Resnick, L. B, 1989). 3Mintzberg concluded ten different roles but those roles are highly interrelated. Interpersonal role should be symbolic, which is essential for top managers, because top managers are leaders, their ability is to lead, supervise and motivate workers. So during this time, conceptual skills will be used because of many complex situations with employees and employers. Informational roles need managers to have the ability to receive, collect and disseminate information. Decisional roles are typically important to top managers.In usual time, they should do wide-making decisions, they will face many complex and abstract situations, but as a leader, they should solve these problems using their managerial skills. So they will use conceptual skills to make decisions due to solving all of abstract situations (Robbins, S. P, 2011). Otherwise, strategic planning is necessary for top managers in reality. Planning implementation is especially important, which needs managers to implement strategic planning effectively through formalizing and discipline.Managerial innovation includes total quality management. The generation of innovation results in an outcome – a product, service, technology, or practice that is at least new to an organizational population. Decision skills and strategic planning skills are fundamental factors of conceptual skills. For example, Facebook chief executive Mark Zuckerberg planned to offer a search feature like Google, he combined social and search together, people can do many things at the same place, even finding a good restaurant or learning about a good job.Facing the biggest competitor Google, Mark needs strategic planning skills to make latest strategies to deal with intense competitions this kind of complex situations. Therefore decision skills and strategic planning skills are related to conceptual skills. How do chief executive officers (CEOs) use conceptual skills? They set the tone for th e organization via the vision they express, decisions they make, policies they implement, and what they pay attention to, measure, and reward (Finkelstein, Hambrick, & Cannella, 2009).Those abstract situations they should face are very normal to a company. How will the members perform, how will set a correct direction, or how to coordinate relationships with stakeholders are complex actions they are supposed to do (Boal & Hooijberg, 2001; Hambrick & Mason, 1984; Ireland & Hitt, 1999). CEO Alan Joyce is leading change at Qantas to deal with the challenges in the airline industry’s fast-moving and competitive environment. Why would Qantas be successful? Because there are many effective strategies Qantas has conducted.Firstly, they split the operations into separate business in order to make each of the business units more accountable. They have also been forced to look at how it can reduce its costs. Secondly, under Joyce’s leadership, the company has a significantly low er cost base than its full service parent, customers are very satisfied with discount airline. Thirdly, an area where cost savings have been seen as necessary is in staffing. And the last point is to surge fuel prices. There are many competitors to Qantas, they all take effective actions at any time.So Alan Joyce has had to deal with as he maps a road that will make Qantas to continue to operate as a successful and profitable airline around the world (Robbins, S. P, 2011). Conclusion In summarize, conceptual skills are needed by all managers at all levels, but these skills are more important in top management positions. In current business, top managers should have these skills to make wide decisions and establish the goals to lead companies to be successful. Conceptual skills represent collaborative processes at the organizational and strategic levels.The degree of leader success will depend largely on the leader's ability to maximize the full potential of these collaborative netwo rks. Reference Boal KB. , ; Hooijberg R. (2001). Strategic leadership: Moving on. The Leadership Quarterly, 11, 515–550. Finkelstein S. , Hambrick DC. , Cannella AA. , ; Jr. (2009). Strategic leadership: Theory and research on executives, top management teams, and boards. Oxford, UK: Oxford University Press. Glaser, R. , ; Resnick, L. B. (1989). Cognitive Apprenticeship: Teaching the Crafts of Reading, Writing, and Mathmatics.In Knowing, learning, and instruction: Essays in honor of Robert Glaser. Hillsdale, N. J: L. Erlbaum Associates,453-490. Kanter, R. M. (1984). The Change Masters. London: Unwin Hyman. Katz, R. L. (1974). Skills of an Effective Administrator. An HBR Classic. Harvard business review,  52(5), 90-102. Retrieved from http://hbr. org/1974/09/skills-of-an-effective-administrator/ar/1 Peters, T. J. , ; Waterman, R. H. (1984). In Search of Excellence. New York: Warner Books. Robbins, S. P. , R. Bergman, et al. (2009). Management. Frenchs Forest, N. S. W. , Pear son Education Australia. * *

9 tips for handling difficult customers

9 tips for handling difficult customers Every business, in every sector, in every industry, is filled with difficult clients or customers who make doing your job 10 times harder than it has to be. After a long day of work, it can be enough to make you rage out†¦ or crumple into a ball and weep. When you feel like you’re going to lose it, try these 9 helpful strategies instead. 1. Show how well you can listen.You know they’re totally in the wrong, but they don’t understand that yet. They’ve got the situation or the facts all incorrect and you just can’t bear to hear them rehash details that don’t make sense. All they hear from your impatience is that they’re not being heard. Try just letting them get it all out. Listen patiently to what they have to say. Let them vent. It will help you set them straight if you understand their position better first and if they feel like you’ve been paying attention.2. Show empathy.Forget for a second that this person is rude, mean , and wrong. Whatever their problem, they really want you to understand and help them. Repeat back what you hear as the major issue. Express your genuine regret that they’re having a rough time, and show an honest willingness to help. Even if you have to fake it, use eye contact, body language, and verbal cues to show you care and are engaged. Don’t talk over your customer- this just feels like a power play. Let them finish first.3. Talk slower and sweeter.Just because your customer raises his or her voice doesn’t mean you have to respond in kind. Lower your voice and slow your speech down. The calming effect can be immense. You can still be firm- the last thing you want to do is show your fear. But try to inspire the client to relax just with the way you’re speaking.4. Look for nuance.Is their ire coming at you from a place of anger, anxiety, annoyance, or frustration? Getting a more specific sense of where their wrath originates can help you figure out how to tackle neutralizing it. Look at the situation from their point of view and try to figure out what may have triggered their (over)reaction. See if there’s anything you can accept blame for or fix easily, and start with that.5. Imagine you have an audience.If you’re having a hard time keeping your cool, just imagine you’re not alone. Rather, pretend you’re in a room full of clients or customers. Imagine this audience of people is judging your company on your merits as a problem solver. Keep the tone confident and cool. Playing this trick on yourself is a great way to stay professional and courteous, even when you want to scream.6. Find your foothold.Is there anything, in your customer’s tirade that makes a little bit of sense? Look for something you can work with- break down the rant into manageable, actionable chunks and talk your customer through those. Finding even one thing you can solve immediately, however small, can really diffuse a sit uation and make a customer feel heard and respected.7. Pretend to be wrong.If you flip the tables and start agreeing with everything your customer says to the point of taking all the blame upon your shoulders (where it doesn’t belong), you might just find the customer will soften and start saying things like, â€Å"Well, I understand it’s not your fault.† It’s a bit of a hit-or-miss strategy, but can be super effective in certain situations.8. Give them a parting gift.Your biggest goal as a liaison for your company is to repair the relationship. See if you can give your customer a voucher or a bonus discount of some kind- anything to make them feel they’ve â€Å"won.†9. Don’t take it personally.At the end of the day, some customers can’t be reason with and some people are irrationally angry. It’s not about you. It’s probably not even about the company. Let it wash right off your back. Don’t take it home.