Importance of being on time USMC Essay

Being at the appropriate place of duty at the correct time is a very important part of being in the Marine Corps. Being at the right place at the right time for any member of the Armed forces is extremely essential to the defense of the entire United States. Also being at the right place at the right time ensures a steady workplace, and ultimately the reliablity that others have on us. A Marine can not move up in the ranks in the Marine Corps if he or she is constantly late and/or at the wrong place. A Marine who truly wants to succeed in the military must go out of his or her way to get squared away and be on time to his or her place of duty or consequences will be bestowed upon them. This concept goes for any person in any career not just the military. Of course being on time in the Marine Corps is being at your appointed place of duty fifteen minutes prior to the actual time of that was ordered. If some one can not carry out the most simple and most important aspect of being on time as a Marine, he or she will be considered unworthy or unfit to be or become an NCO or even higher in they’re career. Even if a Marine goes above and beyond in in the workplace, in events, is great with physical, and mental, but is not on time and punctual than he or she will never actually succeed in the military. Dependability, accountability, consistency and discipline are all crucially related to being on time. Being early also shows that the individual aims high and has their priorities straight. It is directly related to a Marines appearance, combat readiness, mission effectiveness, and essentially every aspect of military life and responsibilities. Your appreance is the first thing that a leader sees, if you have a bad or no shave, no haircut (for males), tardiness, bad physical appearance, druck or hungover to an extreme. Then automatically you have given off a bad appearance, they dont want to go to you for big things, important things, because you can not even handle the simplest things. If you are unable to complete simple things, then when the time comes how will you even be close to doing something tuely challenging. You may work hard and complete tasks faster than any of your other peers, but if your apprearance is bad, then your leader are not even looking they already have a mindset, a negative mind set. All you have in life is your credablity, once it is gone in one persons eyes, you have to put in way more  effort restoring that, compared to the effort that it would have required to maintain your ablility to be relied on. Failure to be on time not only hinders mission capability and readiness, but also can cost unnecessary life lives in or out of combat. For instance; a Marine is late or does not report at all to his place of duty as ordered. In an extreme case a Marine not being on time to relieve the current Marine on post would cause the combat effectiveness and readiness of this Marine to be greatly reduced. This would be caused by fatigue, or lack of supplies needed. As a result of this Marines combat effectiveness he could be compromised and the security of the area could be over run. This is why being where one needs to be at the correct time will always be one of the most important aspects of being in the military. These things do happen on the battle field, whether it be friendly of enemy. However, This can be avoided by, once again, being on time. This is also why being on time remains and always will be an extreme aspect of military bearing and discipline. If you can not be on time, it is said that you have no discipline. Without discipline there is no way for Marines to efficiently fight and win against the enemy. And if we cannot defeat our enemies then there will no longer be a need for Marines. There is nearly no excuse for being late, or not reporting to your rightful place of duty at the right time. Accountability also goes hand in hand with being on time. Which ranges from being on time for the first formation of the day, being on time to relieve a fellow Marine from his post, or being on time to provide critical reinforcements for a unit that has been weakened and compromised in battle. The were about of a Marine is of extremely important at all times. As people say, how a Marine trains is how a Marine fights. If this term is true someone can only come to the conclusion that if a Marine isn’t on time how can he save and protect the lives of other Marines. He or she can’t be depended upon if they aren’t disciplined enough to be on time every time he is ordered to be. Dependability is the key to discipline and if you cant be on time then you wont be depended on, and you are then useless to others. In other words, in military life there is simply no margin for error regarding  being late or tardiness.

Anchoring Matter for Fresher Party

Meaning of Bank It is generally said that the word â€Å"BANK† has been originated in Italy. In the middle of 12th century there was a great financial crisis in Italy due to war. To meet the war expenses, the government of that period imposed a forced subscribed loan on citizens of the country at the interest of 5% per annum. Such loans were known as Compara, Mintuo etc. The most common name was Monte. In Germany the word Monte was named as Bank or Banke. According to some writers, the word Bank has been derived from the word Banke. It is also said that the word Bank has been derived from the word Banco which means a banch.The Jews money lenders in Italy used to transact their business sitting on banches at different market places. When any of them used to feel to meet his obligations, his banco or banch would be broken by the angry creditors. The word Bankrupt seems to be originated from broken banco. Since, the banking system has been originated from money lending business, it is rightly argued that the word Bank has been originated from the world banco. Today the word bank is used as a comprehensive term for a number institutions carrying on certain kinds of financial business.In practice, the work Bank means which borrows money from one class of people and again lends money to another class of people for interest or profit. Definition of a Bank Oxford Dictionary defines a bank as â€Å"an establishment for custody of money, which it pays out on customer's order. † Definition of banking In general terms, the business activity of accepting and safeguarding money owned by other individuals and entities, and then lending out this money in order to earn a profit. Read more: http://www. investorwords. com/5413/banking. html#ixzz27ewFzo5g Characteristics / Features of a Bank v 1. Dealing in MoneyBank is a financial institution which deals with other people's money i. e. money given by depositors. 2. Individual / Firm / Company A bank may be a person, firm or a company. A banking company means a company which is in the business of banking. 3. Acceptance of Deposit A bank accepts money from the people in the form of deposits which are usually repayable on demand or after the expiry of a fixed period. It gives safety to the deposits of its customers. It also acts as a custodian of funds of its customers. 4. Giving Advances A bank lends out money in the form of loans to those who require it for different purposes. . Payment and Withdrawal A bank provides easy payment and withdrawal facility to its customers in the form of cheques and drafts, It also brings bank money in circulation. This money is in the form of cheques, drafts, etc. 6. Agency and Utility Services A bank provides various banking facilities to its customers. They include general utility services and agency services. 7. Profit and Service Orientation A bank is a profit seeking institution having service oriented approach. 8. Ever increasing Functions Banking is an evo lutionary concept. There is continuous expansion and diversification as regards he functions, services and activities of a bank. 9. Connecting Link A bank acts as a connecting link between borrowers and lenders of money. Banks collect money from those who have surplus money and give the same to those who are in need of money. 10. Banking Business A bank's main activity should be to do business of banking which should not be subsidiary to any other business. 11. Name Identity A bank should always add the word â€Å"bank† to its name to enable people to know that it is a bank and that it is dealing in money. Type 1. Saving Banks Saving banks are established to create saving habit among the people.These banks are helpful for salaried people and low income groups. The deposits collected from customers are invested in bonds, securities, etc. At present most of the commercial banks carry the functions of savings banks. Postal department also performs the functions of saving bank. T ype 2. Commercial Banks Commercial banks are established with an objective to help businessmen. These banks collect money from general public and give short-term loans to businessmen by way of cash credits, overdrafts, etc. Commercial banks provide various services like collecting cheques, bill of xchange, remittance money from one place to another place. In India, commercial banks are established under Companies Act, 1956. In 1969, 14 commercial banks were nationalised by Government of India. The policies regarding deposits, loans, rate of interest, etc. of these banks are controlled by the Central Bank. Type 3. Industrial Banks / Development Banks Industrial / Development banks collect cash by issuing shares & debentures and providing long-term loans to industries. The main objective of these banks is to provide long-term loans for expansion and modernisation of industries.In India such banks are established on a large scale after independence. They are Industrial Finance Corporat ion of India (IFCI), Industrial Credit and Investment Corporation of India (ICICI) and Industrial Development Bank of India (IDBI). Type 4. Land Mortgage / Land Development Banks Land Mortgage or Land Development banks are also known as Agricultural Banks because these are formed to finance agricultural sector. They also help in land development. In India, Government has come forward to assist these banks. The Government has guaranteed the debentures issued by such banks.There is a great risk involved in the financing of agriculture and generally commercial banks do not take much interest in financing agricultural sector. Type 5. Indigenous Banks Indigenous banks means Money Lenders and Sahukars. They collect deposits from general public and grant loans to the needy persons out of their own funds as well as from deposits. These indigenous banks are popular in villages and small towns. They perform combined functions of trading and banking activities. Certain well-known indian commun ities like Marwaries and Multani even today run specialised indigenous banks.Type 6. Central / Federal / National Bank Every country of the world has a central bank. In India, Reserve Bank of India, in U. S. A, Federal Reserve and in U. K, Bank of England. These central banks are the bankers of the other banks. They provide specialised functions i. e. issue of paper currency, working as bankers of government, supervising and controlling foreign exchange. A central bank is a non-profit making institution. It does not deal with the public but it deals with other banks. The principal responsibility of Central Bank is thorough control on currency of a country. Type 7.Co-operative Banks In India, Co-operative banks are registered under the Co-operative Societies Act, 1912. They generally give credit facilities to small farmers, salaried employees, small-scale industries, etc. Co-operative Banks are available in rural as well as in urban areas. The functions of these banks are just simila r to commercial banks. Type 8. Exchange Banks Hong Kong Bank, Bank of Tokyo, Bank of America are the examples of Foreign Banks working in India. These banks are mainly concerned with financing foreign trade. Following are the various functions of Exchange Banks :- . Remitting money from one country to another country, 2. Discounting of foreign bills, 3. Buying and Selling Gold and Silver, and 4. Helping Import and Export Trade. Type 9. Consumers Banks Consumers bank is a new addition to the existing type of banks. Such banks are usually found only in advanced countries like U. S. A. and Germany. The main objective of this bank is to give loans to consumers for purchase of the durables like Motor car, television set, washing machine, furniture, etc. The consumers have to repay the loans in easy installments. Definition of ‘Central Bank'The entity responsible for overseeing the monetary system for a nation (or group of nations). Central banks have a wide range of responsibilitie s, from overseeing monetary policy to implementing specific goals such as currency stability, low inflation and full employment. Central banks also generally issue currency, function as the bank of the government, regulate the credit system, oversee commercial banks, manage exchange reserves and act as a lender of last resort. Investopedia explains ‘Central Bank' The central banking system in the U. S. is known as the Federal Reserve System commonly known as â€Å"the Fed†), which is composed of 12 regional Federal Reserve Banks located in major cities throughout the country. The main tasks of the Federal Reserve are to supervise and regulate banks, implement monetary policy by buying and selling U. S. Treasury bonds and steer interest rates. Ben Bernanke currently serves as the chairman of the Board of Governors of the Federal Reserve. FUNCTIONS OF CENTRAL BANK M. H. Do-Kock has explained the following seven functions of a central bank in his book â€Å"Central Bankin g† which economists have generally accepted. 1. Monopoly of note-issue. 2.Banker, agent and adviser to the government. 3. Custodian of cash reserves of commercial banks. 4. Custodian of nation’s reserves of international currencies. 5. Lender of the last resort 6. Clearing house function 7. Credit control Besides the aforesaid seven functions there are some other functions also, namely: (i) Collection of data. (ii) Role of central bank in developing countries. (iii) Central bank and industrial and agricultural development. (iv) International financial institutions. 1. Monopoly of Note-Issue: Note-issue primarily is the main function of a central bank in every country.These days, in all the countries where there is a central bank generally it has got the monopoly or the sole right of note-issue. In the beginning this was not the function of Central Bank but gradually all the central banks have acquired this function. First of all, Central Bank of England got the right of note-issue in the year 1844. In actual practice, upto the beginning of twentieth century, generally central banks were recognized as the banks of note-issue. In India, R. B. I. , the central bank of India has got the right of note-issue. 2. Banker, Agent & Adviser to the Government:As banker to the government, central bank provides all those services and facilities to the government which public gets from the ordinary banks. It operates the accounts of the public enterprises. It manages government departmental undertakings and government funds and when there is a need gives loans to the government. It looks after the management of public debt. It accepts the payment of taxes from the public on behalf of the government and makes payment for the cheques issued by the government. It also undertakes transactions relating to foreign currencies on behalf of the government. 3.Custodian of Cash Reserves of Commercial Bank: Central bank is the bank of banks. This signifies that it has the s ame relationship with the commercial banks in the country which they have with their customers. It provides security to their cash reserves, gives them loan at the times of need, gives them advice on financial and economic matters and works as clearing house among various member banks. A definite percentage of deposits of commercial banks are kept as reserve with the central bank. This leads to centralisation of cash reserve and facilitates working of credit control. These funds re of great significance during the time of emergency. 4. Custodian of Nation's Reserves of International Currencies: Central bank is the custodian of the foreign currency obtained from various countries. This has become an important function of central bank, these days, because with its help it can stabilize the external value of the currency. This function has become highly important after the World Depression of 1929 and the establishment of the International Monetary Fund. 5. Lender of the Last Resort: C entral bank works as lender of the last resort for commercial banks because in the times of need t provides them financial assistance and accommodation. Whenever a commercial bank faces financial crisis, central bank as lender of the last resort comes to its rescue by advancing loans and the bank is saved from being failed. Central bank helps commercial banks by discounting their bills and securities. 6. Clearing House Function: All the commercial banks have their accounts with the central bank. Therefore, central bank settles the mutual transactions of banks and thus saves all banks contacting each other individually for setting their individual transactions, in this way; the unnecessary cash ransactions between individual banks are avoided. 7. Credit Control: This is a very important function. These days, the most important function of central bank is to control the volume of credit for bringing about stability in the general price level and accomplishing various other socio-econo mic objectives. There are number of methods which a central bank may use for controlling the volume of credit such as bank rate, open market operations, change in reserve ratio and various selective controls. These methods have been discussed in detail in the next question.

Why dieting ultimately leads to weight gain Essay

Why dieting ultimately leads to weight gain - Essay Example The effects of dieting have surprised many scientists prompting them to indulge in further research to determine the psychological and physiological processes that cause the paradox observed with dieting. It is unfortunate that many people obsessed with dieting only lose weight for some time and are likely to regain more weight after a while. This paper will discuss some of the mechanisms that contribute to weight gain during dieting. Dieting denotes a pattern of regulated and restricted eating with the purpose of losing weight or preventing weight gain. In an era where obesity rates are soaring each year, many people consider dieting as a viable solution. To understand why dieting may trigger weight gain, it is important to consider the normal metabolic process. Food consumed by an individual undergoes a rigorous process of chemical transformation with the objective of producing energy. Naturally, some people have a faster metabolic rate while in others the rate may prove to be slower (Lowe, 2015). Individuals with a faster metabolic rate have an advantage because all the food they consume is burnt down completely. However, individuals with a slow metabolic rate may experience increased fat accumulation because the body lacks the capacity to break down all the food consumed. The dietary pattern affects the normal metabolic rates. Some people practicing dieting avoid meals with high amounts of carbohydrates or fats. Nutritionists have highlighted that consuming lesser amounts of fats prompt the body to preserve fats for the future. Therefore, after a meal, the body adjusts the metabolic rates to preserve fats for the future. Many people who practice restricted eating are likely to consume more food in one go. Since the body is starved, it loses its ability to control satiety (Lowe, Doshi, Katterman, & Feig, 2013). Therefore, an individual is likely to consume more than the required calories. When

Standpoint Theory Essay Example | Topics and Well Written Essays - 2250 words

Standpoint Theory - Essay Example Standpoint Theory provides epistemic advantage for different academic fields, when informants/characters are empowered to accurately discuss and analyze their social positions, so that they can change the status quo and improve their social status, although the theory must also address its conceptual and methodological weaknesses to become a dependable resource for feminist epistemology. Sandra Harding describes the political commitments of Standpoint Theory and two sources of controversial views in â€Å"Standpoint Theories: Productively Controversial.† She argues that the political commitments of Standpoint Theory are: 1) the daily lives of the oppressed provide a richer standpoint for social analysis than the experiences of the privileged; 2) standpoint theorists â€Å"study up† because they deconstruct the realities and needs of the underprivileged; 3) the theory promotes collective achievement in understanding how social relations operate; and 4) the theory seeks to obtain data that is accurate, exhaustive, objective, and intersectional (Harding 194-195). Furthermore, the two sources of controversial principles are the changing political agenda of feminists and the clash of different disciplines and their related epistemology and ontology (Harding 196-197). Harding argues that feminists must see Standpoint Theory from a contextualized multidiscipli nary view and accept plurality as a legitimate source of different understandings, and not as a limitation to feminist analysis (Harding 198). She concludes that Standpoint Theory has a significant role in diverse science fields because it emphasizes attention on troubling social realities and uneven social relations. This article is important in discussing the controversies that undercut the intersectional value of Standpoint Theory. It has the weakness of poor empirical testing of its analyses through applying Harding’s propositions to women’s groups. ... Harding argues that feminists must see Standpoint Theory from a contextualized multidisciplinary view and accept plurality as a legitimate source of different understandings, and not as a limitation to feminist analysis (Harding 198). She concludes that Standpoint Theory has a significant role in diverse science fields because it emphasizes attention on troubling social realities and uneven social relations. This article is important in discussing the controversies that undercut the intersectional value of Standpoint Theory. It has the weakness of poor empirical testing of its analyses through applying Harding’s propositions to women’s groups. Elizabeth Anderson criticizes Lisa Schwartzman’s Challenging Liberalism (2006) in â€Å"Toward a Non-Ideal, Relational Methodology for Political Philosophy: Comments on Schwartzman's Challenging Liberalism.† Anderson agrees with Schwartzman’s positive agenda of political philosophy, specifically the latterâ₠¬â„¢s standpoint methodology and group relations methodology. She affirms that Schwartzman is right in her criticisms of individualism and abstraction too because they are incompatible with group relations methodology and standpoint methodology, respectively (Anderson 131). On the contrary, Anderson disagrees with Schwartzman’s view on liberalism. Anderson argues that liberalism is consistent with Schwartzman’s methods because liberals have used them and liberal normative commitments promote the use of these methods (Anderson 131). Anderson contends that liberalism is based on a level of timidity on the capability of the state in resolving all injustices, especially considering differences in how people see what is â€Å"good† in their operations of informal social values (131). The

Master Plan for Training and Capacity Building of Staff Outline

Master Plan for Training and Capacity Building of Staff - Outline Example It is said so because need analysis defines the gap which exists between current and desired state of organizational and individual performance. The basic purpose of conducting need analysis is to measure the performance and resolving issues related to performance or in case of introducing new technology, task or system or a when an organization desires to take advantage out of an opportunity. There are several ways of providing training to employees in order to polish and sharpen their performance. Some of these methodologies should be included by the firm as training programs in order to build the working capacity of employees. Off-the-job training includes activities through which employee can get training by being out of the workplace. Distance learning, working day releases, self study, sponsored courses are some examples of off-the-job training which must be included while designing a master plan. Appraisal reviews helps in knowing what types of penetrations and variations are required to be included in the training program. Feedback of workers and employees can help in developing a genuine and constructive appraisal review. Difficulty Analysis is commenced in order to determine which type of tasks cause greatest amount of difficulties to employee and how they can be resolved through better training. Difficulty analysis is constructive in enabling the need analysis to weigh different aspects of training in relation to reducing the trouble that the workers might face. Motivation is vital for employee development and capacity building. Intrinsic motivation depends on self esteem, self confidence etc. Individual program should be made in order to deal with employees separately as every other person has different level of intrinsic motivation. Individual employees program should stress on the importance of skills, attitude and other assets that can boost the confidence of employee.

ARTICLE TO BE READ DEMOGRAPHIC AND DISAPPEARING MERCHANDISE

TO BE READ DEMOGRAPHIC AND DISAPPEARING MERCHANDISE - Article Example The main contributors to the major losses experienced by retail organizations through shrinkage include shoplifting and employee theft, which is mostly rampant among the young workers (Avery, McKay & Hunter, 2012). Methods Data used in this research was obtained from the annual employee survey in the United States (Avery, McKay & Hunter, 2010). However, workers from stores with over 50 employees participated for generality purposes. The method was appropriate because it shunned individualism which might have led to victimization. However, most of the findings comprised the female subjects representing 83.7% of the total number of all the study’s participants. In addition, the study did not include other industries and firms; hence it never attained the highest generalization aspect. The entire study proved very sensible as the findings were from retail workers coming from 726 company stores (Avery, McKay & Hunter 2010). Suppose it is necessary, one is capable of conducting the entire study again because its data emanated from annual employee survey (Avery, McKay & Hunter, 2012). In addition, researchers incorporated the human resource department with the intention of ensuring high accuracy in their findings (Avery, McKay & Hunter 2010). ... These changes in their personality and ethical development, older employees are therefore less prone to shrinkage related behaviors but tend to blow whistle whenever they sense fraud or theft cases (Avery, McKay & Hunter, 2012). Therefore, stores with higher employee mean age tend to have lower shrinkage cases because proper ethical behaviors exhibited by older employees foster collective honest attitudes in the entire workforce. The evidence provided by the author appears reliable. This is because age composition in many retail shops most of them prefer employing older employees than younger ones. However, the evidence does not provide core reason behind the influence of younger workers’ attitudes by older workers. According to Guerin, businesses incur great losses annually due to shrinkage cases resulting from shoplifting and employees’ theft. In addition, study cites 66% of the retail shoplifting employees opts to steal if they see their colleagues stealing successfu lly (Guerin, 2010). The study also cites 13% of the same category prefers stealing from the business regardless of the consequences (Guerin, 2010). Avery, McKay & Hunter argue suppose retail staffs pay attention to customers with the intention of preventing them from stealing and encourage employees to adhere to the specified code of conducts, they will significantly reduce shrinkages in the business. This is via actively moving around the store, proper positioning and reporting any wrongdoing to the administration (Avery, McKay & Hunter, 2012). Contribution to the Literature Variety of factors tends to influence the rate of shrinkages evident in retail organizations, for instance, nature

Module 2 Case Essay Example | Topics and Well Written Essays - 500 words

Module 2 Case - Essay Example Several techniques of collecting data on the system requirements have been identified and applied. Among those techniques, the interview method has proven most effective. The advantage of the interview method over the other methods is that, it offers the system analyst a hence to get inclusive responses from the departmental heads. This ensures that all the aspects of the various departments in the firm are integrated into the system. This document outlines some of the steps to be followed in the interview process. The first step in an interview is to select the interviewees. To ensure that helpful information is obtained, different stakeholders should be involved in the interview. Some of the stakeholders would include managers, company employees and the general end user of the system. By selecting interviewees from different departments/ niches, reduces chances of biases in the information obtained. Once the interviewees are selected, the next step would be the development of the interview questions (YouTube, 2015). The questions should be developed such that they are free from ambiguity, and they use a language that can easily be understood by the interviewees. The questions can be either structured or unstructured. The structured type of questions attracts specific and straight to the point answers, whereas the unstructured questions remain open to the respondent to give any answer/ or view. For the purpose of efficiency in data analysis, the bigger percentage of the questions should be structured. The structured questions are appropriate when the expected data from the interview requires analysis to identify some patterns. On the other hand, the unstructured questions are relevant to a scenario where the opinion of the respondent is required. This offers the interviewee a chance to use any words to respond to the question asked. This makes the analysis of the unstructured qu estions difficult as compared to their

The Inadequacy of Sociological Perspectives in Assessing and Essay - 1

The Inadequacy of Sociological Perspectives in Assessing and Articulating the Situation and Experiences of Older people from Caribbean and Asian communities in UK - Essay Example This essay stresses that contrary to the notion that women are neglected in old age in Caribbean and Asian communities and men are well cared for it was found that many men did not feel that they are cared for, while women seem to be well off. This is largely due to the activities of the feminist elements in these communities that have made awareness about the plight of women, while men do not have any such support system. This finding was attested by earlier studies in the field. Sociologists have observed Stereotypes of Older Men. The lack of apathy felt by elderly men have been studied The study helped to explode the myth that Older men are powerful, affluent, and dominant in the home and in society among the Caribbean and Asian communities. But the fact is some are but not the majority of them. The research established that the elderly in minority communities do experience difficulties in old age. However, the main source of abuse is the relatives themselves. British medical system needs more awareness about the cultural diversity in their service. The present study only showed that elder abuse is still there in Britain. In the present study among the Caribbeans and Asians there have been cases of elderly abuse in nursing homes but in most cases the experience of abuse is somewhat subjective. The work of feminist organizations had a good effect in improving the conditions of women and similar work oriented towards men also can be salutary in improving the lot of older men. There is greater role for social watchdogs in old age care, as there are cases of abuse of the old in institutions.

Time Delay Disputes in Construction Contracts Assignment

Time Delay Disputes in Construction Contracts - Assignment Example Internal environments usually consist of scheduling issues; i.e. if the construction process was poorly scheduled. Additionally, it may comprise of certain financial problems or changed orders. Exogenous factors largely consist of external elements such poor weather or government laws and regulations. Inputs factors that may lead to delays in construction are largely related to the issue of manpower shortage. (Sweis, 2008) In other words, delays may either be non excusable or excusable. For instance, when a delay is caused by labour disputes, unusual deliveries, and transportation deals that had not been foreseen or other causes that could not be predicted, then the affected party can consider forgiving the offending party. However, in other instances, then delays cannot be excused by the offending party. For example, when delays occurred during ordinary weather or when the subcontractor failed to meet his/her end of the bargain. It is also inexcusable to delay a construction if the project site was poorly coordinated. This may also be a problem when the contractor fails to finance the project properly or when there was poor workmanship, delays in material acquisition among others things. When a delay is caused by any of the latter factors, then it is likely that that person found guilty of the offense will be liable to pay damages. (Fewings & Jones, 2005) The first aspect that is involved in dealing with the disputes is mitigation of its effect. It is likely that the construction process may still be underway. Consequently, the affected parties have to look for ways in which they can minimise the distractions that would lead to further delay or that would cause ultimate project failure. (Kamara, 2002) The next thing that needs to be done is to determine the root cause of the problem. One must be able to determine whether the causes of these delays are actually excusable or not. This is usually done by conducting a detailed evaluation and analysis of the construction site, the contractors, the subcontractor, workers, materials and all other interests groups required to make the project complete. It is usually plausible to break down all the disputes involved in the process little by little. This is because certain events may have caused different delays. Additionally, to effectively solve disputes, it is necessary to assess the overall liability involved and the actual damage caused to the affected party. Thereafter, the two parties in the construction process are usually required to take part in a settlement agreement. This will require legal consultants who will be able to voice the concerns of each of the affected parties. At that time, it may be also be necessary to consider the legal representatives for each party as there is a whole team involved in the dispute resolution mechanisms. The assembly of this team may usually be necessary in mediation cases rather than in settlement arrangements. (Iyer, Chaphalkar & Joshi, 2008) However, in the event that a dispute is quite severe or when the affected parties have failed to reach a compromise, then these two parties will be required to take their case to court. This usually occurs when the dispute has resulted in litigation in the part of the affected party. Usually, judges will listen to their respective cases and then come up with possible explanations about what could have caused

Business Financing and the Capital Structure Essay Example for Free

Business Financing and the Capital Structure Essay Explain the process of financial planning used to estimate asset investment requirements for a corporation. Explain the concept of working capital management. Identify and briefly describe several financial instruments that are used as marketable securities to park excess cash. As a business owner, it is important to know the value of your assets as they can be used as leverage for obtaining loans and can be used to estimate your ability to repay your debts. Calculate your current assets, long-term investments, fixed assets and intangible assets and add them up to get your total business assets. Pledgeable assets support more borrowing, which allows for further investment in pledgeable assets. The trade-off between liquidation costs and underinvestment costs implies that low-liquidity firms exhibit negative investment sensitivities to liquid funds, whereas high-liquidity firms have positive sensitivities. If real assets are not divisible in liquidation, firms with high financial liquidity optimally avoid external financing and instead cut new investment. If real assets are divisible, firms use external financing, which implies a lower sensitivity. In addition, asset redeployability decreases the investment sensitivity. Financial management includes management of assets and liabilities in the long run and the short run. The management of fixed and current assets, however, differs in three important ways: Firstly, in managing fixed assets, time is very important; consequently discounting and compounding aspects of time element play an important role in capital budgeting and a minor one in the management of current assets. Secondly, the large holdings of current assets, especially cash, strengthen firm’s liquidity position but it also reduces its overall profitability. Thirdly, the level of fixed as well as current assets depends upon the expected sales, but it is only the current assets, which can be adjusted with sales fluctuation in the short run. Marketable securities replenish cash quickly and earn higher returns than cash, but come with risks; maturity, yield, and liquidity should be considered. Marketable securities are the securities that can be easily liquidated without any delay at a reasonable price. Firms will maintain levels of marketable securities to ensure that they are able to quickly replenish cash balances and to obtain higher returns than is possible by maintaining cash. There are four factors that influence the choice of  marketable securities. These include risks, maturity, yield, and liquidity. Assume that you are financial advisor to a business. Describe the advice that you would give to the client for raising business capital using both debt and equity options in today’s economy. Some business owners say ratios are an accountants problem. Thats not smart, says Dileep Rao, president of Minneapolis InterFinance Corp, a venture-finance consulting firm, and professor at the University of Minnesotas Carlson School of Management. Running your business without knowing your numbers is like driving a car without being able to see your direction or speed, says Rao. Its only a matter of time before you crash.(Rao, 2011) The terms debt and equity get tossed around so casually that its worth reviewing their meanings. Debt financing refers to money raised through some sort of loan, usually for a single purpose over a defined period of time, and usually secured by some sort of collateral. Equity financing can be a founders money invested in the business or cash from angel investors, venture capital firms, or, rarely, a government-backed community development agency—all in exchange for a portion of ownership, and therefore a share in any profits. Equity typically becomes a source of long-term, general-use funds. The share of any hard assets, such as property and equipment, that you own free and clear also counts as equity. Striking the right balance between debt and equity financing means weighing the costs and benefits of each, making sure youre not sticking your company with debt you cant afford to repay and minimizing the cost of capital. Choosing debt forces you to manage for cash flow, while, in a perfect world, taking on equity means youre placing a priority on growth. But in todays credit markets, raising equity may simply mean you cant borrow any more. Until recently, bank credit was a financing mainstay. But experiences like Flipses underlie a point made by the Federal Reserve Boards quarterly Senior Loan Officer Opinion Survey on Bank Lending Practices, released in November. According to loan officers, small-company borrowers were tapping sources of funding other than banks. They were being driven away for many reasons. Banks continued to tighten standards and termson all major types of loans to businesses, though fewer were doing so than in late 2008, when tightening was nearly universal. Interest rates on small business loans were on the rise at 40% of the banks surveyed, even as the prime rate reached historic lows. One in five banks had reduced small  companies revolving credit lines. One in three had tightened their loan standards, and 40% had tightened collateral requirements. Partly because of the plunging value of the real estate securing many commercial loans, pressure from bank examiners for tighter standards continued to build. Meanwhile, home equity loans, another popular source of small business cash, had evaporated. Many recession-weary business owners knew they had essentially become unbankable: Loan officers surveyed said far fewer firms were seeking to borrow. Those few who could borrow were repelled by higher rates. All of a sudden, equity financing looked better. Explain why a b usiness may decide to seek capital from a foreign investor indicating the risk and rewards for such a decision. Provide support for rationale. Many investors choose to place a portion of their portfolios in foreign securities. This decision involves an analysis of various mutual funds, exchange-traded funds (ETF), or stock and bond offerings. However, investors often neglect an important first step in the process of international investing. When done properly, the decision to invest overseas begins with a determination of the riskiness of the investment climate in the country under consideration. Country risk refers to the economic, political and business risks that are unique to a specific country, and that might result in unexpected investment losses. This article will examine the concept of country risk and how it can be analyzed by investors. There are many excellent sources of information on the economic and political climate of foreign countries. Newspapers, such as the New York Times, the Wall Street Journal and the Financial Times dedicate significant coverage to overseas events. There are also many excellent weekly magazines covering international economics and politics; the Economist is generally considered to be the standard bearer among weekly publications. For those seeking more in-depth coverage of a particular country or region, two excellent sources of objective, comprehensive country information are the Economist Intelligence Unit and the Central Intelligence Agency (CIA) World Fact Book. Either of these resources provides an investor with a broad overview of the economic, political, demographic and social climate of a country. The Economist Intelligence Unit also provides ratings for most of the worlds countries. These ratings can be used to supplement those issued by Moodys,  SP, and the other traditional ratings agencies. Finally, the internet provides access to a host of information, including international editions of many foreign newspapers and magazines. Reviewing locally produced news sources can sometimes provide a different perspective on the attractiveness of a country under consideration for investment. It is important to remember that diversification, which is a fundamental principle of domestic investing, is even more important when investing internationally. Choosing to invest an entire portfolio in a single country is not prudent. In a broadly diversified global portfolio, investments should be allocated among developed, emerging and perhaps frontier markets. Even in a more concentrated portfolio, investments should still be spread among several countries in order to maximize diversification and minimize risk. After the decision on where to invest has been made, an investor has to decide what investment vehicles he or she wishes to invest in. Investment options include sovereign debt, stocks or bonds of companies domiciled in the country(s) chosen, stocks or bonds of a U.S.-based company that derives a significant portion of its revenues from the country(s) selected, or an internationally focused exchange-traded fund (ETF) or mutual fund. The choice of investment vehicle is dependent upon each investors individual knowledge, experience, risk profile and return objectives. When in doubt, it may make sense to start out by taking less risk; more risk can always be added to the portfolio at a later date. In addition to thoroughly researching prospective investments, an international investor also needs to monitor his or her portfolio and adjust holdings as conditions dictate. As in the U.S., economic conditions overseas are constantly evolving, and political situations abroad can change quickly, particularly in emerging or frontier markets (Forbes, 2011). Situations that once seemed promising may no longer be so, and countries that once seemed too risky might now be viable investment candidates. Explain the historical relationships between risk and return for common stocks versus corporate bonds. Explain how diversification helps in risk reduction in a portfolio. Support response with actual data and concepts learned in this course. Portfolio diversification is the means by which investors minimize or eliminate their exposure to company-specific risk, minimize or reduce  systematic risk and moderate the short-term effects of individual asset class performance on portfolio value. In a well-conceived portfolio, this can be accomplished at a minimal cost in terms of expected return. Such a portfolio would be considered to be a well-diversified. Although the concepts relevant to portfolio diversification are customarily explained with respect to the stock markets, the same underlying principals apply to all types of investments. For example, corporate bonds have specific risk that can be diversified away in the same manner as that of stocks. Bonds issued by companies represent the largest of the bond markets, bigger than U.S. Treasury bonds, municipal bonds, or securities offered by federal agencies (Worldbank, 2013). The risk associated with corporate bonds depends on the financial stability and performance of the company issuing the bonds, because if the company goes bankrupt it may not be able to repay the value of the bond, or any return on investment. Assess the risk by checking the company’s credit rating with ratings agencies such as Moodys and Standard Poor’s. Good ratings are not guarantees, however, as a company may show an excellent credit record until the day before filing for bankruptcy. When you purchase stock in a company during a public offering, you become a shareholder in the company. Some companies pay dividends to shareholders based on the number of shares held, and this is one form of return on investment. Another is the profit realized by trading on the stock exchange, provided you sell the shares at a higher price than you paid for them. The risks of owning common stock include the possible loss of any projected profit, as well as the money paid for the shares, if the share price drops below the original price. Corporate bonds hold the lowest risk of the three types of investments, provided you choose the right company in which to invest. The main reason for this is that in the event of bankruptcy, corporate bond holders have a stronger claim to payment than holders of common or preferred stocks. Bonds carry the risk of a lower return on investment, as the performance of stocks is generally better. Common stocks carry the highest risk, because holders are last to be paid in the event of bankruptcy. Preferred stocks generally have higher yields than corporate bonds, lower risk than common stocks, and a better claim to payment in the event of bankruptcy. References Dileep Rao. 2011, â€Å"InterFinance † Cambridge, Massachusetts, The MIT Press. Forbes. 2011, Small Business Loans: A Great Option . Retrieved on 6/19/2013 from http://www.forbes.com/sites/ryancaldbeck/2012/11/14/small-business-loans-a-great-option-unless-you-actually-need-money/ Foreign direct investment, net inflows (BoP, current US$) | Data | Table . Data.worldbank.org. Retrieved 6/19/2013 from http://data.worldbank.org/indicator/BX.KLT.DINV

Customer centrality within the organization of mcdonalds

Customer centrality within the organization of mcdonalds Introduction This report will assess the degree to which the organization of McDonalds is customer centred. Established in 1955 as a small Illinois neighbourhood restaurant, McDonalds has developed rapidly in becoming one of the worlds best known brands of fast food with over 30,000 restaurants in over 120 countries and with 2001 sales in excess of $40 billion the company claims to be the worlds largest food service organisation (Jones et al,2002). The McDonalds brand continues to enhance its worldwide reputation to this day, the main reason behind this continual success is because the organization listens to its customers needs and expectations. It is imperative that McDonalds remain customer focussed due to the vast amount of competition in the fast food sector, customer orientation is critical to business profitability (Donaldson,1993; Narver and Slater,1990) and is a necessary antecedent of competitive advantage (Ganesan,1994; Williamson,1991). The typical McDonalds customer cannot be stereotyped or defined. In an attempt to categorize the typical McDonalds customer market research has been carried out which identifies different types of customers, for example (www.mcdonalds.com): A parent with two children Visits the restaurant to give children a treat. Children View McDonalds as a fun place to eat. A Business Customer Visits during the daytime as service is fast, the food is good quality and can be eaten whilst on the move. Teenagers Attracted by the Saver Menu and the affordable food, Wi-Fi internet access is also an attraction. This report will attempt to assess specific parameters of focus for consideration with regard to customer centrality. The literature review will discuss several marketing concepts and models with the key concept being the 7 Ps Marketing Mix, by investigating how the 7 Ps model is integral to customer centrality various other concepts will arise as part of the marketing mix model. Literature Review An organization which realizes that profits come from customers, not from products, will establish systems to measure and manage customer profitability (Marketing Management,2003). In order to appreciate and understand how customer relationships are critical for profitable organisations we need to understand the key fundamental marketing principles. Once these key principles have been discussed the author will discuss how these fundamental principles are applied within the organization of McDonalds. The Marketing Mix Concept A consumer-centred organisation is focussed upon and structured around, identifying and satisfying the demands of its customers (Marketing-Management,2009). The marketing mix management paradigm has dominated marketing thought, research and practice since it was introduced almost 40 years ago (Gronroos,1994). The marketing mix comprises four levers, by utilising the mix an organization can position themselves or their products in a way that makes them attractive to target consumers. Kotler and Keller (2006) define an organisations marketing mix as a set of tools that work together to affect the marketplace. Todays marketing emphasis is on that of customer relations due to the competitiveness of the economy McCarthy (1964) developed the early marketing mix models and formulated the 4Ps concept consisting of product, price, promotion and place. Since its conception the 4Ps became treated as the unchallenged basic model of marketing (Gronroos,1994) resulting in most other models and approaches being overlooked and discounted in preference of this model. Traditionally the marketing mix has consisted of the 4 Ps however Gronroos (2000) points out that during the last two decades marketing researchers have increasingly found that the list of 4 Ps is too restrictive and morevariables have been suggestedsuch as people, processes and physical evidence. The 4Ps framework is thought to be most relevant for introductory marketing and consumer marketing as opposed to services marketing (Rafiq et al,1995). Gronroos (1994) argues that a list of categories of marketing variablescan never be considered a very one.A list never includes all relevant elements, it does not fit every situation and becomes obsolete. Crittenden (2007) backs up this statement with her view that relying upon the tactical aspects of the marketing mix (4Ps) is insufficient for long -term success . Gronroos (1994) argues that the four Ps constitute a production-orientated definition of marketing, and not a market-orientated or customer-orientated one. Swartz et al (1973) adds validity to this statement in observing that some experts feel that public relations should be recognized as a distinctive marketing mix variable. Gronroos (1999) also argues that customer relations should form part of the marketing mix concept the marketing mix approach does not cover all resources and activities that appear in the customer relationshipsof the customer relationship life cycle, he states that the 4Ps are far too simplistic. Crittenden (2007) argues this point in saying the successful simplicity of the 4P framework has allowed it to remain strong as an organizing method. The 4 Ps concept is perceived as too restrictive, as it is centred more towards short term transactions rather, the concepts failure is that it does not concentrate on the importance of building and maintaining long term relationships with customers (Marketing Management,2003). In order to achieve customer centrality within the marketing mix concept Booms and Bitner (1981) proposed that the existing four elements of the marketing mix be extended to include three additional elements: physical evidence, people and processes. This revised marketing mix model is known as the 7 Ps with the concept used mostly within service industries and knowledge intensive environments. McDonalds uses the marketing mix concept with regards to customer centrality by utilising the framework in the manner; Product This area covers all aspects with regards to creation, development and management of products (Brassington Pettitt,2003). Some are physical products; others intangible personal services, the product can include non-core items such as packaging and after-sales service. A huge amount of choice is available on the McDonalds menu, McDonalds places considerable emphasis on developing a menu which customers want (McDonalds,2009). McDonalds product popularity is supported by the following customer statement; you can always rely on them to get it rightfor convenience they cannot really be beaten (Jones et al,2002). Price Price represents on a unit base what the company receives for the product or service which is being marketed (Jobber,2001). The price of a product or service may portray it being a quality item or a desirable one (Brassington Pettitt, 2003). A customer statement with regards to the price at McDonalds; it is a real treat for the family and is very good valuegood cheap foodfits the student lifestyle (Jones et al,2002) McDonalds state that the danger of using low price as a marketing tool is that the customer may feel that a low price is indicative of compromised quality. McDonalds acknowledge that they are in a competitive market but realise they are market leaders benchmarking product quality against price. Promotions Promotion is concerned with how the product of service is made available to its target audience (Jobber,2001). McDonalds promotes its products and brand to customers through numerous methods such as sales promotions, direct mail, exhibitions, seminars, loyalty schemes, demonstrations and telemarketing. The McDeals in-store consumer communication and loyalty program provides customers with personal, customised purchase incentives, offers and sweepstakes at the point-of-sale (www.mcdonalds.com). With regards to customer centrality, promotion needs to be based on consumer-perception through use of the media to reach the target audience. McDonalds recently launched m-Venue which allows customers to access in-store digital content such as music, music videos and movie previews with their mobile phones or laptops whilst enjoying their food this service is of no cost to the customer (www.akoo.com). McDonalds customers are also given the chance to win various prizes ranging from food vouche rs to cash and sports cars via in-store game-based promotions (www.mcdonalds.com). Place Place is concerned with distribution channels and consumer service levels (Baker, 1999). Place refers to decisions about the ways in which products can be most effectively distributed to the final consumer, either directly or through intermediaries. Customers can interact with McDonalds on their website which can be used as an effective data gathering tool for relationship marketing. McDonalds restaurants are strategically placed in convenient locations, in retail outlets, motorway services and busy city/town centres the aforementioned locations are either associated with leisure or relaxation activities. By strategically placing their restaurants McDonalds position themselves within the required target market. Although many marketers agree that the 4 Ps model is limited in its application, some marketers still recognise the concept as the holy quadrupleof the marketing faithwritten in tablets of stone (Kent,1986). Crittenden (2007) argues that the marketing machine must rigorously reflect the 4 Cs axiom of marketing (customer centrality, competitive capabilities, company collaborations, cyclical connections). Crittenden (2007) states that the 4 Cs must be used in conjunction with the tactical components of the 4 Ps of the marketing mix, the 4 Cs are referred to as the strategic components. Crittenden argues that marketing as a truly integrated function must use its 4 Ps as necessary components, this statements conflicts with that of Gronroos (1999) who says that the 7 Ps concept should be viewed separately, with relationship marketing suggested as one new paradigm . Crittenden (2007) states that marketers would be wise to give attention to the 4 Cs of marketing and harmonize the Ps and Cs for a stronger, more powerful marketing machine it could be argued that in doing this the strategic Cs would effectively cover the relationship marketing aspect of the marketing mix. Interestingly the 4 C axiom states customer centrality as an element, Crittenden (2007) states that the customer is touted as the predominant theme of the marketing conceptthe satisfaction of customers wants and needs is a major force in the world of marketing she goes on to say that the customer must be central to the companys focus, as their satisfaction is crucial to company success. McDonalds chief operating officer, Charlie Bell, supports the core concepts of the marketing mix framework in the following statement; To achieve our four business objectives attracting more customers, increasing frequency, building brand loyalty, and increasing productivity we will concentrate on the five drivers of superior customers experiences: people, products, place, price, and promotion. (www.mcdonalds.com) Marketing orientation is critical for todays organizations, adopting a marketing function forms part of an organizations process but being market orientated is critical, Ottesen et al (2002). Gronroos (1994) states that along within the development of market orientation an organization needs to develop true market orientation and a real appreciation for the needs and desires of the customers. Within many organizations the marketing department, and organization unit is separate from the rest of the organization, the department is critical to taking care of the fulfilment of customer needs and desires (Gronroos,1994). Gronroos (1994) says that the psychological effect on the rest of the organization of a separate marketing department is, in the long run, often devastating to the development of a customer orientation or market orientation in a firm. Gronroos (1994) states that marketing specialists organized in a marketing department may get alienated from the customers with no interact ion between customer and marketing specialist the customer become mere numbers with a lack of qualitative data an organization will suffer. Moller (1992) emphasises the aforementioned Gronroos point by stating from the functional view of marketing mix management our focus has extended to the strategic role of marketing, aspects of service marketing, political dimensions of channel management, interactions in industrial networks; to mention just a few trends. Crittenden (2005) supports the strategic marketing concept by stating if firms are truly to become market-orientated, the marketing function itself must become more strategic in its orientation. Michaels (1982) stressed that No-one person, system, or technique will make a company marketing orientated whist also pointing out that a marketing orientation cannot be achieved overnight. Kotler and Keller (2006) also stress the importance of structuring the organization to focus on the customer by management educating themselves and their staff about their marketing focus to show how it will support long-lasting success in the marketplace. McDonalds takes a commitment to continuous training, from counter staff level, right through to senior executives (Tomkins, 1995). This rule applies to all levels and functions within an organization who must share a common commitment if they are to work together in the interest of the consumers. Kotler and Keller (2006) highlight the point that without the support of top management, the focus on customer satisfaction advocated by the marketing orientation will not become the guiding orientation for organisational decisions. Gronroos (1994) highlights the fact that most organizations the non-marketing specialists outnumber the marketing specialists, in order to achieve true market orientation the non-specialist or part-time marketer (Gummesson,1990) within an organization is critical as the part-time marketer interacts with the customer more frequently than that of the full-time marketer (specialist). Gummesson, (1990) states that the full-time marketers are not able to handle more than a limited portion of the marketing as its staff cannot be at the right place at the right time with the right customer contacts thus placing the customer interaction emphasis on the part-time marketer. Internal marketing is considered a prerequisite for successful external marketing (Compton et al,1987), if the internal market of employees are not s uccessfully taken care of..the success of the organizations operations on its ultimate , external markets will be jeopardised (Gronroos,1990). Gronroos introduced the perceived service quality concept in 1982, this new concept introduced the interactive marketing function. This function was brought in to cover the marketing impact on the customer during the consumption of usage process, where the consumer of a service typically interacts with the systems, physical resources and employees of the service provider (Gronroos,1994). The interactive marketing function recognizes that every component human as well as other in producing a service, every production resource used and every stage in the service production and delivery process, should be the concern of marketing as well, and not considered operations or personnel problems only (Gronroos,1990). Once Gronroos had introduced this system the servuction concept was developed which pioneered the field of services marketing (Eiglier and Langeard,1987)) of services marketing. Servuction is the process of producing services and is essential to any organization operating in the services segment and deals with, to great extent the employees and the inner organization (Eiglier and Langeard,1987). With respect to McDonalds service quality Ken Tomkins (1995) states the quality will be consistent, the service fast and friendly, the cleanliness exemplary, and the value second to none. Part-time marketers are key to the servuction concept with an organization as the impact of the part-time marketers as well as the customer orientation of systems, technology and physical resources is paramount to the success of interactive marketing (Gronroos,1990). The marketing success of a firm is only partly determined by the full-time marketersthe part-time marketers of a service provider may often hav e a much more important impact on the future purchasing decisions of a customer (Gronroos,1994). If a company was to abide by the principles set within the 4 Ps concept there would be no personalized relationship with the producer and marketer of a product due to the clinical approach, which makes the seller the active part and the consumer passive (Gronroos,1994) There are numerous other key issues within relationship marketing, with two vital concepts which should not be ignored, these are the promise concept and trust concept (belief is a direct resultant of trust). Calonius (1988) emphasizes that the responsibilities of marketing do not only, or predominantly, include giving promises and thus persuading customers as passive counterparts on the market to act in a given way. If an organization makes a promise to its customer and does not fulfil the promise the evolving relationship cannot be maintained and enhanced (Calonius,1988). Trust, a willingness to rely on an exchange partner in whom one has confidence (Moorman et al,1993). From this definition it can be seen that there has to be belief in the organizations trustworthiness that results from the expertise, reliability or intentionality of an organization (Gronroos,1994). The concept of relationship marketing as opposed to transaction marketing was introduced by Berry (1983) who observes that clearly, marketing to protect the customer base is becoming exceedingly important to a variety of service industries. Gronroos (1990) formulates a relationship definition of marketing which states Marketing to establish, maintain, enhance and commercialize customer relationships (often but not necessarily always long term relationships) so that the objectives of the parties involved are met. This is done by mutual exchange and fulfilment promises. Transaction-type strategys are usually facilitated in an organization pursuing a traditional marketing mix approach, whereas an organization applying a relationship marketing approach will focus specifically on the additional 3 Ps of people, physical evidence and processes which in turn will use the servuction concept to ascertain customer expectations and needs. An organization pursuing a relationship strategy has created more value for its customers than that which is provided by the core product alone (Gronroos,1994). As customer interaction is enhanced through relationship marketing the customer recognises this added value, Gronroos (1994) states relationship marketing makes customers less price sensitive. Philip Lempert (www.supermarketguru.com) supports Gronroos statement People understand they get what they pay for, and as long as the food is good and its a comfortable atmosphere, theyre willing to pay repeatedly for it. Marketing trend analysts suggest that slashing prices to attract the customer isnt always the answer, it will aid retention of existing customers but may deter new custom due to perceived quality (www.SupermarketGuru.com). Conclusion It is evident through this report that McDonalds as an organization is extremely customer focussed. By carrying out research within the marketing mix concept it can be seen that all of the 7Ps and associated models are utilised by McDonalds. Through use of the servuction concept McDonalds has succeeded in establishing a highly trained internal and external workforce which has resulted in high levels of customer service ultimately resulting in consistently high sales and customer retention and acquisition. The literature review further emphasises the fact that McDonalds have carried out extensive research within its market area by implementing a successful market segmentation strategy to satisfy the different customer needs and expectations within the marketplace. McDonalds service marketing strategy is testament to the additional three Ps of the marketing mix. Success of the overall service within the organization is due to the fact that the organization has critically identified all areas within the fundamental four Ps approach and emphatically succeeded in fulfilling all requirements with regards to segmenting, targeting, positioning and establishing an organizations which is customer central. The success of McDonalds customer centrality is not achieved by default, the organization has differentiated itself within a competitive market by excelling in customer relations. There are several fast food retailers within the sector who have a customer base achieved by default but it is not evident to the marketplace that they have focussed on customer centrality as a priority which is in vast contrast to the philosophy of McDonalds which structures its organization around the demands of the customer. The following statement typifies the way in which McDonalds views its organization; We strive to be a progressive market leader and we can only stay ahead of the rest by listening to the most important ambassadors of our brand our customers! (www.mcdonalds.com). The philosophy of customer centrality is imperative to service organisations as long as the relationship marketing concept is integrated within a successful marketing mix approach. Product orientated organisations could benefit from focussing on customer centrality by adopting relationship marketing. Transactional based marketing should not be viewed separately in its application as integration of relationship marketing within a transactional based model could result in increase in perceived quality, customer retention and overall satisfaction.

Assessment of Members of a Group Project :: The Forgotten Group Member essays papers

Case 9 – The Forgotten Group Member 1.  Ã‚  Ã‚  Ã‚  Ã‚  Christine’s leadership abilities could benefit by having knowledge of the stages of group development. Specific to her situation, it seems that aside from the very first group meeting, Mike was not present for the forming stage of the group. As a result, questions such as â€Å"What can the group offer me?†, â€Å"Can my needs be met and still contribute to the group†, and other discovery inquiries did not get answered for Mike so he has not felt part of the team so he has withdrawn from the group. As a leader, Christine could have encouraged to Mike the importance of being present for group meetings so he can be part of the team. For example, at the lunch room incident when Mike walked away, she could have talked with him individually and explained to him that she perceives that he does not feel welcome and has been avoiding team meetings. Christine could address the how important it is to attend the team meetings, explain to him the  "WWIFM† (what’s in it for me) aspects and the fact that team needs him as he has so much that could contribute and add value to the team. She could also indicate that the team’s success will only be possible when every member contributes. By doing so, she can help ensure that Mike is able to join the group during the forming stage and hopefully move quickly to the norming and then performing stages. 2.  Ã‚  Ã‚  Ã‚  Ã‚  Christine should understand that the blend of individual personalities and how people related to one another in groups based on their needs to express and receive feelings of inclusion, control and affection are important to the success of the team. By understanding the needs of her team members, she can build group processes to address those needs. For example, since Mike initially revealed himself as a class clown, she could allow him the opportunity to be creative with his contribution to the project and present part of the case in class to let his humor shine through in a manner that compliments the case. For Steve, she could let him draw up an agenda and project plan. Janet could be the one who researches the materials needed for the project. As a result of understanding the needs of the team members, Christine would be able to draw on the strengths of each team member by building group processes that compliment those strengths and as a result, would suppor t positive and, hopefully, successful workgroup performance.

Prenatal Screening :: essays research papers

Prenatal screening Screening for Down syndrome is available to about 53.5% of mothers on a maternal age basis, and the remaining 46.5% of health boards provide serum screening for all ages. There are several methods used in prenatal screening, these are usually used separately, and a number of factors are taken into account to determine which method should be used. Amniocentesis has been around for 20 years and is probably the most well known screening method. It involves testing a sample of the amniotic fluid surrounding the foetus, ultrasound is used to guide a needle through the abdomen, into the womb and a small amount of amniotic fluid (20ml) is removed. The procedure is usually carried out at 14-16 weeks. Amniocentesis tests for chromosome disorders, and is 99.8% reliable for chromosome number, there is however a risk of miscarriage (usually 1/250 or less) after the procedure. This is one of the reasons why amniocentesis has only been offered to over 35's (since they have a much higher risk of having a Down syndrome child)(Webb 1990). Previous studies on amniocentesis concentrated on problems that might arise during pregnancy or immediately after, these studies found that children whose mothers had amniocentesis are more likely to have breathing problems in the first few days after birth. A study performed by Jo-Anne Finegan in Toronto followed 88 women who had, had amniocentesis, there was an increased incidence of ear infection in this group. Finegan tested the stiffness of the eardrum and found children in the amniocentesis group were more than three times as likely to have abnormal readings. It is thought that there is a disruption of the delicate balance of pressure across the eardrum when the amniotic fluid is removed, which could cause the problems(Webb 1990). Chorionic villus sampling is another form of sampling, it involves taking a small piece of placenta and genetic testing is carried out on it, there is a slightly higher chance of foetal loss with this procedure (Dick 1996). A more recent form of prenatal testing involves serum markers. Blood is taken from the pregnant women and the maternal blood is tested for three hormones, this test is called the 'triple screen' test. The three hormones tested are alpha foeto-protein (AFP), human chorionic gonadotrophin (HCG) and oestradiol (E3). AFP is based on the fact that Down syndrome foetuses tend to be smaller on average, have smaller placentas and thus secrete less AFP.

Power and Politics in Organizations Essay -- Power and Politics in the

Power and Politics in Organizations Introduction Have you ever wondered what role politics and power play in organizations? When used effectively they can be compatible in reaching the organizations goals. Power is defined as the ability to get someone to do something you want done or the ability to make things happen in the way you want them. (Schermerhorn, Hunt, and Osborn, Chap. 15). Power is important within organizations because it is the way in which management influences individuals to make things happen. When power and influence combine, most of the time 'politics' become involved in some manner which may pose some problems. Organizational politics is best described as management influenced by self-interest through the use of means not necessarily authorized by the organization. Organizational politics have been viewed as an organizations enhancement tool to survive and fulfill goals. Power and Politics, though closely related, share similarities and differences but ultimately work together for the success of an organizatio n. Types of Power There are two types of power that influence both individual and organizational behaviors. The first one, known as Position Power is widely used by the managers as a direct result of their position in the organization. There are six bases under position power in which the management uses to effectively motivate their employees. Reward power is probably the most successful in controlling employees. There are several typ... Power and Politics in Organizations Essay -- Power and Politics in the Power and Politics in Organizations Introduction Have you ever wondered what role politics and power play in organizations? When used effectively they can be compatible in reaching the organizations goals. Power is defined as the ability to get someone to do something you want done or the ability to make things happen in the way you want them. (Schermerhorn, Hunt, and Osborn, Chap. 15). Power is important within organizations because it is the way in which management influences individuals to make things happen. When power and influence combine, most of the time 'politics' become involved in some manner which may pose some problems. Organizational politics is best described as management influenced by self-interest through the use of means not necessarily authorized by the organization. Organizational politics have been viewed as an organizations enhancement tool to survive and fulfill goals. Power and Politics, though closely related, share similarities and differences but ultimately work together for the success of an organizatio n. Types of Power There are two types of power that influence both individual and organizational behaviors. The first one, known as Position Power is widely used by the managers as a direct result of their position in the organization. There are six bases under position power in which the management uses to effectively motivate their employees. Reward power is probably the most successful in controlling employees. There are several typ...

Reading Books Essay

Reading a book is one of the best forms of entertainment a person can have. Books can take you places to a time and lifestyle that you will never visit or experience. I remember the old show called â€Å"Reading Rainbow† and it lyrics were gave a very interesting take on books they went like this: â€Å"I can twice as high take a look, it’s in a book A Reading Rainbow, I can go anywhere, Friends to know and ways to grow, Reading Rainbow, I can be anything take a look it’s in a book.† Those lyrics are so true. Reading a book you can read about how life was in the 1700’s up until our generation today. I could be a detective who solves a famous mystery or I could be the killer trying to get away. I can learn to speak another language. There are so many things and topics in reading a book that can change your appearance, your political viewpoints, and change your attitude. Some say that books might become obsolete because movies are made from these books and you can watch the movies in two hours. Watching the movies a person feels that you can get the plot and conclusion of the book in two hours. This is true but for example if it is true life story the movie are going to change some parts of the books to make it more enjoyable, whereas the book is going to give you every detail the author wants you to have. Books gives people a conversation piece just like a movie but the only difference is books can join the world. Movies can’t be seen in some countries but a book can be read. So like the Reading Rainbow says â€Å"take a look it’s in a book†. So in conclusion reading a book is the best form of entertainment. Stephanie C. Williams November 20, 2010

Effectiveness: Communication and Team Members Essay

Aims / details: The primary purpose of the report is for you to work with three other people and undertake a study of an organization – the steps for establishing team performance plans, the development and facilitation of team cohesion, the facilitation of teamwork and, liaising with stakeholders. Reviewing the effectiveness of teams within an organization is imperative so that opportunities for improvements may be identified and investigated. The study necessitates an evaluation of an organization’s policies, procedures, processes and resources – whether they are sufficient, or whether additional arrangements need to be looked into. The study may reveal a need for: more documentation, infrastructural changes and/or employee requirements. During your study of the organisation you must consider the following: how are team members consulted about their roles, responsibilities and accountabilities; how do team members develop performance plans; how are team members supported in achieving performance outcomes; what are the strategies, policies and procedures to ensure team member participation; how is feedback about team member efforts provided; what are the processes for raising and addressing concerns; how are team members encouraged to take responsibility for team activities; how does the contributions of team members serve as a role model; how are communication processes established and maintained; what are the arrangements for communicating information; what are the arrangements for communicating issues and problems; how is corrective action evaluated and taken to resolve those issues and problems. From the information that is gathered, you will also be required to make recommendations for improving the problem areas that you may have identified. It will be crucial for you to liaise and interview the appropriate key personnel for this report. These may be: employees, the chief executive officer, direct superiors, other management representatives, board members,  business or government contacts, funding bodies, union/employee groups and representatives and work teams. Elements / performance criteria: This workplace related report would assess all the topics of the module Ensure Team Effectiveness. The assessment is done holistically. Remarks: This assignment must be presented in a report form and Presented professionally – bound or presented in a file. Include an assignment cover sheet, table of contents, introduction, body, recommendation/conclusion, and in the bibliography use the Chicago style referencing (refer to Summers, J and Smith, B 2004, Communication Skills Handbook. How to succeed in written and oral communication, Wiley, Queensland, Australia, Chapter 2). As a guide, the report should be approximately 10 to 12 pages-this excludes the bibliography / any other attachments. Typed/font size 12 (Times New Roman) or 10 (Arial) Margins to be 2.5 cm all round. Line Spacing – 1  ½ BRIEF REASONS must be given to support the points raised in your report. The project (report) will be marked according to the headings / guidelines as provided in the DAS – the outline of what are to be included. Note that each report may contain different details –as each organization may have different systems, procedures, processes and programs etc. You are expected to be able to aptly apply the concepts to a real life situation. Granted that there will always be a degree of difficulty in assessing all the details of any company, a fair amount of secondary data and ‘common sense’ will be needed in working through this project. The company that you are choosing to ‘study’ must be willing to be interviewed / provide information where necessary. Actual information on the organisation and relevant information of organizations in a similar industry must also be available / able to be obtained. The following headings could be used in your report. You could also choose to have your own ‘headings’ and /or add additional headings / sub- headings as you deem appropriate. The notes following the headings provide some guidance of the kinds of information and analysis that would need to be considered. Group Report Provide an appropriate title (as it relates to the organisation under study) Suggested headings For report – EnSURE TEAM EFFECTIVENESS (name of organisation) 1. Introduction Provide an overview of what this report entails – include aspects of the purpose of your report and what the report entails. You should also briefly include a brief overview of the organisation (for example, its name, type of business etc) 2. Sources of information Outline the various sources of information that you used to gather your information. Such sources could include gathering information from primary sources (e.g. the relevant personnel in the company- personally and via questionnaires) and secondary sources (e.g. company reports, documents). Include copies of your interviews as an appendix in the report. 3. Develop Headings and Sub-headings Clearly describe what is included/considered (keeping in mind the Module Topics, required knowledge and required skills). a) Establish Team Performance Plan Explain the mechanisms that the organization has in place for consulting with team members to establish a common understanding of team purpose, roles, responsibilities and accountabilities in accordance with organizational goals, plans and objectives Briefly outline the steps and procedures that the organization has to develop performance plans to establish expected outcomes, outputs, key performance indicators and goals for work team Describe the steps/procedures that the organization has to support team members in meeting expected performance outcomes b) Develop and Facilitate Team Cohesion Briefly outline / summarize the strategies the organisation has in place to ensure team members have input into planning, decision making and operational aspects of work team Explain the steps that the organisation has in place to develop policies and procedures to ensure team members take responsibility for own work and assist others to undertake required roles and responsibilities Describe the arrangements that the organization has to provide feedback to team members to encourage, value and reward individual and team efforts and contributions Summarize the steps/procedures that the organization has to develop processes to ensure that issues, concerns and problems identified by team members are recognized and addressed Include copies of the organization’s policies, procedures and codes of practice in the appendix of the report. If these are not available, you should note these and make suitable recommendations on how these deficiencies should be addressed. c) Facilitate Teamwork Explain the steps that the organisation has in place to encourage team members and individuals to participate in and to take responsibility for team activities, including communication processes Describe the procedures  that the organization has to support the team in identifying and resolving work performance problems Briefly describe the arrangements that the organisation has to ensure own contribution to work team serves as a role model for others and enhances the organization’s image for all stakeholders d) Liaise with Stakeholders Explain the processes that the organisation has in place to establish and maintain open communication with all stakeholders Describe the steps that the organization has in place to communicate information from line manager/management to the team Outline/summarize the arrangements that the organization has in place to communicate unresolved issues, concerns and problems raised by team members and follow-up with line manager/management and other relevant stakeholders Briefly explain the provisions of the organisation to evaluate and take necessary corrective action regarding unresolved issues, concerns and problems raised by internal or external stakeholders 4. Recommendations & Conclusion Briefly summarize your findings Outline the problem areas that have been identified.  Explain whether the current procedures, processes, activities and resources in the organization are sufficient, or whether additional arrangements might need to be looked into. Indicate what those arrangements are (i.e. more documentation, infrastructural changes and/or employee requirements)

Business Proposal Essay

Funding Requirements14 Confidentiality Agreement The undersigned reader acknowledges that the information provided in this business plan is confidential; therefore, the reader agrees not to disclose it without the express written permission of Mr. K Seeman Durai. It is acknowledged by the reader that information to be furnished in this business plan is in all respects confidential in nature, other than information that is in the public domain through other means, and that any disclosure or use of this confidential information by the reader may cause serious harm or damage to M/s. Newsky Fireworks Limited Upon request, this document is to be immediately returned to Mr K Seeman Durai. Signature Date : 26. 05. 2013 1. Executive Summary Promoter’s Profile 1. Name:K Seeman Durai 2. Age:45 years 3. Address:No. 4859 Nethaji Road, Sivakasi 4. Educational Qualification:M. B. A. , M. I. B. 5. Years of Experience:20 years (M/s. Murugan Fireworks) Financial projections are summarised and highlighted. (Rs. In Lakhs) |Particulars |Year 1 |Year 2 |Year 3 | |Sales |50. 0 |75. 00 |90. 00 | |Exports |35. 00 |40. 00 |50. 00 | |Net Profit before Tax |15. 00 |35. 00 |50. 00 | |Investment |80. 00 |90. 00 |95. 00 | 2. Company Description Promoters and Shareholders |Name |Age |Designation |Address |No. of Shares | |K Seeman Durai |45 |Promoter |No. 859 Nethaji Road, Sivakasi |10 lakhs | | Karthik |43 |Chief Executive |No. 728, West Car Street, Trichy |1 Lakh | | | |Officer | | | | Jeya Sivasakthi |45 |Managing Director |No. 73, South Masi Road, Coimbatore. |2 lakh | |Kandan | | | | | |P. Dhanalakshmi |35 |Director |No. 83, Sarojini Road, Salem. |3 lakh | |T. Abinaya |34 |Director |No. 34, Second Street, Theni |3 lakh | |S. Aishwarya |40 |Member |No. 4859 Nethaji Road, Sivakasi |1 lakh | |S. Geetha |39 |Member |No. 73, South Masi Road, Coimbatore. |1 lakh | Advisors |Name |Educational |Role |Address |Contact No. | |Qualification | | | | |CA G Rajesh |M. Com. , F. C. A. |First Auditor |8493 Sarojini Street, Chennai|+919835748343 | |Mrs. D Sheela |M. A. ,M. L. , |Legal Advisor |857, Gandhi Road, Madurai |+919447382342 | |Mr. K Gulandaivel |B. E. , |Technical Advisror|76, Tagore Street, Vellore |+919472834234 | Products and Services †¢ Unique Selling Points : Crackers that burst with wordings regarding to the occasion. e. g. Happy Diwali, Happy New Year, Happy Married Life etc. ) Long Term Aim of the Business â€Å"To provide Eco-Friendly Crackers† Objectives |Particulars |I |II |III |IV |V | |Sales |50. 00 |75. 00 |90. 00 |95. 00 |100. 00 | |Exports |35. 00 |40. 00 |50. 00 |55. 00 |60. 00 | |Employment |2. 00 |2. 15 |2. 25 |2. 50 |2. 60 | SWOT Analysis Strengths |Weaknesses | | | | |Investments and Professionals | | |Opportunities |Threats | | | | |Everlasting Demand |Competitions | 3. Market Analysis Target Market Market Segmentation Profile of Competitors Main Competitors would be : †¢ Arasan Groups of Fireworks Industries †¢ Kaliswari Fireworks †¢ Sony Fireworks Competitive Advantage We have the following Competitive Advantages †¢ Unique features †¢ Price †¢ New technologies or systems †¢ Better value to customers in terms of efficiency †¢ Greater compatibility with existing systems †¢ Include any independent validation or case studies Benefits to Clients Our product provides to potential customers in terms of their own business goals. It enable them to: †¢ Increase sales †¢ Increase efficiencies Save money †¢ Save time †¢ Maximise resources †¢ Reduce errors †¢ Reduce downtime †¢ Improve Customer Service, reduce churn, increase loyalty 4. Marketing/Sales Strategy Marketing Strategy †¢ The Southern Tamil Nadu zone is to be concentrated first and youngsters are to be focused †¢ Followed by youngsters, children, adults are to be concentrated †¢ Youngsters are the potential customers already targeted †¢ Test site in operation are will be conducted, and feedback will be analysed properly †¢ Agents and Representatives are expected for marketing Sales Strategy The major Sales Strategy is to sell directly and by means of distributors. Particulars |Direct Sales |Through Distributors | |Composition |25% |75% | |Cost Involved |10/unit |7/unit | |Pricing |Penetration |Penetration | Pricing †¢ Competitors Price is higher than our price †¢ There is a sufficient level of competition in the market †¢ Production costs and overheads are expected to be 60% of sales †¢ The buyer can control the price to a c onsiderable level. Marketing and Communications Strategy Advertising and Publicity will be the active source of Promotion. Advertising : Through televisions and newspapers. It is targeted to audience all over the state at the initial level Publicity : Banners have been planned to be placed at various hot locations 5. Research and Development Process [pic] Research and Development It has been planned to organize a R&D Department that would be actively engaged in the research of Eco-friendly crackers and to come up with various innovative ideas. 6. Staffing and Operation Management Organisation Chart Staffing †¢ Department Managers are to be appointed by the Board of Directors. The selection criteria for the same would be Educational Qualification, Experience, Age etc. , Department Managers are given the power to recruit employees for their concerned departments for which selection criteria is to be set by the directors. †¢ Skilled, Semi-Skilled and Unskilled Workers are to be utilised for various production processes. The same would be procured from the nearest locations at a reasonable cost. Tr aining Plans Training Programmes are to be conducted at regular intervals in order to enhance the efficiency of the skill levels of the workers. 7. Financial Projections IKey Assumptions10 IIBalance Sheets11 IIICashflow12 Requirements for Preparation of Projections 6. Opening figures included based on latest Mgmt/Audited accounts 7. Shareholders Fund analysed into Share Capital, Share Premium and Retained Profits 8. Sales Assumptions provided by unit, price segment & geography and reconciled to pipeline 9. Expenditure categorised into R&D, Admin and Overheads and Promoters / key managers salaries 10. Identification of monthly and cumulative company operational deficits 11. Sensitivity analysis may be required, detailing strategies to be implemented if sales or expenditure targets are not met. 12. Projections should identify separately Operational Cash Flow and external Cash Injections IKey Assumptions |Particulars |Year 1 |Year 2 | |No. f Employees |250 |300 | |Investments in Equipment |1,50,00,000 |1,55,00,000 | |Projected R&D costs |25,00,000 |20,00,000 | |Depreciation allowed for |12,00,000 |11,50,000 | |Expected rent and rates charges |5,00,000 |5,00,000 | |Creditor days expected |45 |60 | |Debtor days allowed |60 |60 | IIIBalance Sheets IVCashflow 9. Funding Requirements |S. No. |Sources |Amount | |1. |Equity Shares of Rs. 10 each |Rs. 60 crore | |2. |10% Preference Shares of Rs. 100 each |Rs. 25 crore | |3. |8% Debenture of Rs. 100 each |Rs. 25 crore | |4. |Term Loans |Rs. 10 crore | Required for: †¢ Equipment:10 crore †¢ R&D:15 crore †¢ Marketing:2 crores †¢ Staffing:6 crores ———————– 26. 05. 2013 Newsky Firework Limited Business Proposal K Seeman Durai & Group

Putting Elderly Parents in Anursing Home Essay

There will almost absolutely come a day when your parents will need you. When this time comes, they will probably not admit that they need you or anyone else for that matter, but in reality, they will definitely need someone. If you look back to your childhood it’s quite similar to those days they had to care for you. They took care of your every need from bathing, feeding and dressing you appropriately. Those days you may not remember as well as they do but they happened. The days that they were responsible for you, unfortunately now they need the same care that they provided for you so long ago. So what are your options you say? Put them in a nursing home where you’ll take the chance they may be cared for properly? Chances are every time they have to use the bathroom or need assistance their going to have to press a help button and wait. Wow, they just became a number in someone’s eye and honestly how degrading can that be. The clear option for so many reasons would be to keep them at home and care for them as they did you. So with a firm standing putting your elderly parent in a nursing home is by far the worst option compared to keeping them at home. The average cost of putting an elderly parent in a nursing home verses keeping them at home is by far reason in itself. Deciding to keep you elderly parent at home verses a nursing home is an easy choice once you weigh the factors in of their independence, the cost and by far their love for u and your love for them. Are you ready to choose? This day it’s almost an inevitable choice that you’re going to have to make rather you want to or not. Do you have a clue what this involves? The bottom line is if you choose not to be there you’re given up that last chance you’ll ever have to be there for them. The normal stay in a nursing home is an average of just 2. 4 years. The average daily cost of a private room in a nursing home in the United States is $70,080 a year, or $192 a day. The average cost of a semi private room is $169 a day, or $61,685 a year. [ (Elder law answers website, 2008) ] Wow, now can you just see their life saving dwindling. I can say after being a nursing assistant employed in the nursing home setting for seventeen years now. That I can tell you I’ve heard it endless times form my elderly residents in the nursing home, how they worked hard all their life and for what? To live out their golden years watching everything they worked for go to their care. Needless to say it’s heartbreaking for those who have to watch it and those experiencing it. It’s hard enough for them to except the care they now need. But really to watch their whole life savings disappear for the need to survive every day. On so many levels it’s completely wrong and not fair. It’s hard to accept and realize that they’re hurting a lot more than you are and a lot more than their probably ever going to tell you they are. But they made great sacrifices and tremendous efforts to make your life relatively easy when you were growing up; the least they deserve now is to have a life that is comparably comfortable as they live out their golden years without having to watch their life’s work go down the drain. The average daily cost of keeping your elderly parent at home is far less than you would expect. There are so many options out there to help them stay home. If your elderly parent remains home they still have so many options available to help keep as much as their independence as possible. Home health care services are available in almost any area and provide supervised personnel care to help them with either health needs or their daily activities of living. Meals and transportation are also available to help retain independence. Home delivered meal programs can help ensure a proper diet for them. Adult day care and hospice are also options to help retain your elderly parent at home. Respite care is also available to you. They will send a trained person to care for your loved one so that you can run errands or take a vacation and have the break you may need [ (new york Life , October) ]. So with many options to help retain your loved one at home it’s easy to see the benefits of keeping them at home as long as possible once you have assessed the cost to do so. The daily average cost of keeping a loved one at home with a paid caregiver is an average of $96. 0 dollars a day and an average of $34,560 dollars a year [ (Kobrin, 2009) ]. Compared to a nursing home this is by far the cheaper option. But still with adding in the other options listed above this can be even cheaper if you do your research for your local area. By being head smart you can keep your elderly parent at home without watching everything they’ve worked for go down the drain. In ending choosing to keep your elderly parent at home is more than the right choice. In the long run it’s going to save them money and prolong their independence as long as possible. This is also your chance to give back to them all that you can for everything they did to support and raise you. It’s your turn now to make that right choice. By keeping them at home they’ll be much happier and so will you. This is their golden years! So let them shine as there suppose to. Do this by keeping them at home and showing them the respect they completely deserve. In doing this you will be letting them keep their independence and the life that they’re use to for as long as possible.