Small Businesses Affected by Financial Crisis - 1191 Words

Small Business affected by Financial Crisis The purpose of this research study is to review how small businesses are affected by economic crisis, to assess the effects of marketing strategies on business performance and to identify strategies that can help small businesses grow in troubled times. The following 5 literature reviews attempt to demonstrate and support the hypothesis. In a research article by Jeffries (2011) stated how there are four ways to bounce back after a recession. The four recommended strategies to help your business bounce back after a recession are innovation, looking into government programs and partnerships, work on developing future businesses and rethinking how you do business. It is hypothesized that†¦show more content†¦They were also determined to improve the current economy. The research article states 3 key components that any small business owner can incorporate to improve the success of their company quicker. Business owners should create intermediate products e.g. newspapers and or free consultations to bring in their customers. Secondly they should survey their customers to analyze how their products are being used. And last, a loyalty program should be created to reward their customers for buying and using their products. It is hypothesized that small businesses emerge with strength to overcome the economy because they are better able to respond to their customer needs. In the research article by Krell (2011), the Small Business Administration Office of Advocacy defines a small business as an independent business having fewer than 500 employees. In the article it mentions that successful small business leaders tend to treat risk as a two-sided coin. Meaning that they will identify and mitigate threats on one side while seizing and exploiting opportunities on the other side. Due to the economic crisis, there has never been more threats or opportunities confronting small businesses. The study shows that small business sales are weak because of the decline in optimism in business owners. There is uneasiness among small business owners about future opportunities. Since the economy is not growingShow MoreRelatedBritish Petroleum And The Deepwater Horizon Crisis1583 Words   |  7 Pagesimpacted. Key publics that were impacted include British Petroleum’s board of directors, employees, local businesses in the surrounding areas, and the environmentalists that got involved. The goal of our audience analysis is to analyze and predict the different behaviors and preferences among key publics in order to better communicate and effectively mitigate the effects of the Deepwater Horizon crisis. Throughout this audience analysis, we at British Petroleum aim to move our key publics through the stagesRead MoreWhat Are No Restrictions On New Financial Service Institutions?932 Words   |  4 PagesNo Restrictions on New Financial Service Institutions (Essay #1) Introduction Currently, there are no known specific restrictions on the number of new financial service institutions allowed into the industry each year. However, the regulatory burden placed on financial institutions has controlled, or perhaps diminished, the number of new bank charters over the last 10 years (Adams Gramlich, 2014). This is particularly true for the smaller, traditional banks and a result of regulatory demandRead MoreThe Vicious Cycle Of Student Loans1576 Words   |  7 Pagestheir money in paying off their debts, there will be definite consequences. So people might ask, â€Å"what aspects of the economy are being affected due to rising student debt?† Despite the social cost that student loans promote, through in depth research and analysis, I have concluded that our economic cost will evolve around the housing market, small businesses, and students’ career choices. These are extremely valuable industries that our economy can’t afford to lose. Ultimat ely, it is not the studentsRead MoreRent For Own Home Ownership1032 Words   |  5 Pagesof fact, there is no American Dream without home ownership. Years ago, an economic crisis swept the nation leaving many homeless, jobless, and flat out broke. Many Americans as well as businesses were victims to this crisis. Fortunately, the market has started to recover and regain structure and many have been able to get back to into the home buying market. Millions of jobs are being created and small businesses are beginning to see profits as well. 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Although the recessionRead MoreFactors That Caused the 1997 East Asian Financial Crisis1604 Words   |  6 Pages1997 East Asia Financial Crisis Discuss the principal factors responsible for the East Asian currency/financial crisis of 1997. In 1997, there occurred certain shifts in expectations from the market. The regional contagion and confidence led to the East Asian financial turmoil. In 1990s, it had been reported that the microeconomic and macroeconomic businesses were not performing as expected. The local and international investors had not held enough grips into the looming financial challenges toRead MoreEssay1523 Words   |  7 PagesOver the years, many businesses and aid organizations have given numerous resources and financial support towards affected communities. These businesses and organizations are what many establishments look to in order to help the citizens living in the area. Sometimes cities and towns do not have enough money and human help to care for those in need, so the best option for a great outcome is to search for businesses and organizations that will give resources to relieve the threat of destruction. InRead MoreCiti Singapore: Company Analysis1754 Words   |  7 PagesCiti Singapore Contents Introduction of the Company 3 Environmental Factors 4 Financial Sector Uncertainty 4 Recovery from the Current Recession 4 Potential for another Global Recession 5 International Growth 5 Other Business Considerations 5 Demand for Capital 5 Demand for Deposits and Investments Opportunities 6 Citis Business Functions 6 Planning 6 Strategizing 6 Organizing 7 Leading 7 Controlling 7 Conclusion 8 Recommendations 8 Works Cited 10 Introduction

The Barge Haulers on the Volga by Ilya Repin Essay

One of the most famous Russian paintings that portray the suffering yet thriving in harsh conditions is The Barge Haulers on the Volga by Realism genre painter, Ilya Repin. This painting was painted in 1873 on the basis of numerous studies and portrait sketches collected young painter while traveling along the Volga River in 1870, and was a testament to his creative spiritual maturity. In one of the letters to Stasov, Repin wrote that the theme of the painting was born under the impression seen on the Neva River and Volga River scenes: festively dressed gentlemen strolling and haulers in the next strap, pulling the barge. There are eleven characters, all as one, - the poor and disadvantaged, but each - with personality and character.†¦show more content†¦This open landscape was for its time achievement for treatment of space, the nature of colors, based on a combination of yellow and blue shades. Hot sand shoals distance moves gang boatmen pulling a barge. More than one hun dred miles away, these people have been in the webbing. The bright sun illuminates the whole gang; dark spot gloomy anxiety group of people dressed in rags emphasizes calmness, clarity landscape full of light and air boundless expanse. A narrow strip of coast, the vague outlines of the hills behind the broad water surface reinforce the impression of vastness and depth of the Volga landscape that allows the artist to even sharper shade dark, greasy, a brown stain (as he describes in a letter to Stasov) - boatmen. The first impression from the picture it is this: the landscape of sparkling sun moves a dark spot. A viewer is captivated by the scenery of River Volga’s exhausted from the heat and fatigue, along the shore of the great river boatmen slowly pulling heavy unwieldy barge to the short. Boatmen are shown at the time of exhausting and mind-numbing work. However, this does not cause feelings of depression or hopelessness. Conversely, a heavy tread of boatmen, power worker s - all this gives the impression of the inner strength of the people, the great power of Russia. A viewer sees the different emotional and physical states of each person: the barge hauler with a pipe, an old man,Show MoreRelatedAnalysis On Barge Haulers On The Volga 1449 Words   |  6 Pages Mengyao Hou Art Matters 04/20 2015 Barge Haulers on the Volga Barge Haulers on the Volga is a painting by Ilya Yafimovich Repin. It uses oil on canvas, and stretches to 131.5 cm Ãâ€" 281 cm. It was painted in the early 1870’s and currently hangs in the State Russian Museum. Repin painted Barge Haulers on the Volga during a very turbulent time in Russian history. This was a difficult time for laborers in Russia, the time of early Marxism, which is a worldview that uses materialism in order to dispute

Coursework Construction Contract Law

Question: Discuss about the Coursework Construction Contract Law. Answer: Discussion Every transaction and contracts entered into by people in the UK has to abide by Contract Law as well as Law of Tort[1]. The report deals with the case analysis of Quashquell Construction Limited (QQ) which is a UK registered property developer based in Manchester. Its primary focus is on brownfield development which develops retails parks in various reclaimed lands in cities of UK. With the BREXIT referendum coming into being the company has declined in its business significantly. With losses in its business, the company decided to sell-off its three storey office building in Salford and move to Hull. The company new projects are located in Hull hence it is profitable for the company to relocate to that office, in an old Victorian building. Since the building was very old it needed certain refurbishment works to the tune of GBP 50000. Retro Salvagers Ltd (RSL) was responsible for carrying out all works in the said premises and complete it within 25 February 2016. This would let QQ f ulfill its contractual agreement to its buyers, the contract further stated a deduction of 4.5% from contract price with loss in each day delayed. QQ further entered into contractual agreement with Dapar Heating Systems (DHS) for purchasing and installing heating systems in the premises[2]. The contract entered into provided that DHS complete the installation prior to 25 February 2016, delay in which DHS needed to pay GBP 1200. RSL failed to deliver the promised within date due and QQ had to move into nearby hotels conference hall for its operations for ten days. This led to severe expenditures for the company and also overriding Contract Law and Tort Law[3]. Further RSL failed to install heating systems and after installation there was three weeks of malfunctioning. The heating system upon examination exploded causing injury to Sally and Sean, employees of QQ. Thus, the above scenario has been analyzed on contractual and tort-related issues. QQ, Sally, Sean and Amy have been provided justification for their legal claims that they can make from the following situation. Quashquell Construction Limited (QQ) is a reputed brand name in the UK with multiple construction and any issues that it faces in regards to its business will be a threat to its current existence[4]. The report discusses the case of QQ by applying and analyzing Contract Law and Law of Tort based on Law of UK and Scotland. The analysis has been developed using examples from multiple case studies. In order to analyze this case study Law of Contract and Law of Tort of UK has been analyzed. The bases of Contract Act are its basic elements which are required for its formation. An offer, acceptance, legality of terms, legality of object, explicit or implied are some of the basic criterias that are required for the purpose of contract formation. Law of Tort on the other hand expresses legality of objects and ensures that no harm has been caused in the course of the contract. It is applicable on a wrong doing which needs to be established. The Contract Law in the UK provides for that every person, meaning individual for businesses who has entered into a contract needs to follow its regulations regarding the same. The formation of a contract requires that all elements of the law are satisfied. When QQ entered into a contract with RSL and DHS on making subsequent offers to them[5]. The offer was accepted by the parties with all its terms and conditions, which led into the formation of the contract. Once formed the contract becomes legally enforceable and needs to be fulfilled with all intentions as the offer was made on legal terms. But RSL failed to fulfill its commitments by not delivering the premises as promised. The company had met the three basic essentials for contract creation as agreement, consideration and contractual intention. But the company failed to meet the three basic essentials that validate a contract. Every contract has certain aspects of Express terms and Implied terms which parties entering the contract set in their agreement. In this contract entered into agreement is recorded for expressing terms of the contract. It was clearly stated upon payment that it needed to be completed by 25 February 2016. As already the company had suffered losses from BREXIT it was necessary for it to meet the requirements it had specified to its customers. This would ensure better brand name and value for the company and ensured more business[6]. Even if the contract provided for deduction of amount in case the requirements did not meet. But unable to meet the deadline for the contract has caused loss to business, brand name and expenditure while staying at the hotel premises as well[7]. The Law of Tort can also be applied on the company as the company has defied meeting its promises. In the Law of Tort in the UK bodies need to apply rights, obligations and remedies for business or plaintiff who has suffered harm due to the wrongful act of RSL[8]. The Law of Tort provides that parties need to provide remedy in case of negligence caused from Duty of Care, Breach of the Duty, Causation and in case of Damage or injury. Duty of Care: In tort law, QQ can claim significant damage from RSL and it is a legal duty of the company to pay them the losses. As the obligation under this duty is enforceable it requires RSL to comply with certain standards that could prevent or reverse the effect of harm. While staying at the hotel QQ had incurred several expenditures[9]. Also as communicated by RSL the company had left its previous property o come and stay at the current location which it could not stay according to the due date promised. Breach of Duty: RSL also after entering into the contract failed to meet its obligation which resulted in Breach of Duty. Economic Tort: This is a pure case of Economic Tort as QQ has incurred loss economic loss significantly. The business with severe loss of business and failing to move into the new location has resulted in this tort. In Spartan Steel Alloys Ltd v Martin Co case there was significant economic loss for which the plaintiff claimed for losses[10]. RSL needs to provide remedial actions in economic terms that QQ can significantly claim. A damage is the loss that has occurred from the tort and needs to be catered to and compensated for. While claiming for any sort of compensation it can either be nominal, contemptuous, general, special, aggravated damages and exemplary or punitive damages[11]. The company can claim for Special Damages by providing for the suffered losses. QQ will provide documents from necessary hotel bills and other documents to claim of many significant losses. The company has entered into contract with QQ for installing the heating systems within the said deadline. The company has also agreed to pay a sum of GBP 1200 for compensating any loss in delayed completion. Hence, as both the parties have entered into the contract for the purpose they needed to abide by its terms and basic elements[12]. The heating systems also focused on efficient systems but there were no expressed provision to provide for energy efficiency. The term of the contract was implied which also needed to be followed as the company had provided assurance regarding the same. Though QQ had made necessary payments in order to get services provided by the companys heating system but it failed miserably. QQ also had to install mobile heaters for the purpose of heating while they moved into their new office. While DHS assured that its heating systems will stabilize it did not. Purely the company after agreement failed to meet the requirements of the contract leading to its fa ilure[13]. Law of Tort is applicable to this case as there has been significant amount of harm caused by installation of the heating systems. As the law provides for rights, obligations, remedies which can be applied in courts proceeding for any harm caused. The plaintiff here QQ has suffered harm due to significant wrongful act of the heating company[14]. QQ can claim for damages in civil court of law. This law of tort is applicable even of the parties to the contract does not desire so. This law is abiding on the individuals and business; and is imposed by the state. As it is applicable by the state the compensation can be claimed for remedial actions. In this case DHs can be accused of civil as well as criminal wrong doing. such wrong doings can be claimed for negligence, defamation or nuisance. In Mc Farlane v E.E. Caledonia case established that fear was reasonable cause providing for wrong doing. The case encompass a number of instances that covers economic, physical and psychiatric damag e claims made by the contracting parties[15]. DHS sales representatives had made high promises to ensure best quality of products delivered to QQ. On the expressed as well as implied terms of contract provided by DHS, QQ entered into a contract. DHS though assured installing the best heating system initially it malfunctioned. Here at this juncture itself, the company should have conducted an expert analysis on its heating systems. DHS can be further be held responsible that even after weeks of malfunctioning of its heating systems it failed to accommodate an experts opinion to assure QQ as promised. QQ on questioning the issues with the heating system was further assured by DHS as it will stabilize after a while. It was QQ who conducted an expert analysis post it analyzed some anomaly in the system. QQ was hesitant regarding the newly installed systems malfunctioning and hence wanted an investigation into the same. DHs holds legal responsibility for every system it installs and prov ides to its customers. Tortuous liability provides to give compensation, indemnity or restitution for harm caused. In this case QQ along with its employees has suffered unwanted harm due to physical injury, financial loss, reputation and damage of property. In case of Duliev v White Sons Kennedy J. proved that shock arising from is reasonable fear that has been caused due to busting of heating systems in QQ[16]. This is reason enough for claiming tort. Cattles v Stockton Waterworks Co case also provided for various economic losses that can arise from Law of Tort[17]. Similarly, in this case the plaintiffs have established that any claims regarding tort needs to be settled. In order to heat the office at the said premises QQ had to hire four mobile heaters at GBP 100 each day which caused significant economic loss to the company. Inspite of the knowledge of DHS that the building was old, cold and damp them did not fit the new systems in the building[18]. The newly installed heating system further malfunctioned; three weeks post its installation. Though DHS assured that they provided the best quality heating systems they malfunctioned[19]. DHS system further assured that their heating system will stabilize after installation. In this DHS has tort of negligence which has caused harm to multiple individuals. QQ had appointed an independent expert for evaluating the heating systems installed such that assessment could be done[20]. The independent expert upon examining the system it exploded causing harm to Sally, Sean and Amy who were employees at QQ. There was also injury from slippery stairs resulting in dislocated ankle. Experts stated that this was a fault with the installation of DHS. DHS has installed a low end energy efficiency heating system and explosion was due to gas leak from the system[21]. DHS sales representative had stated that the heating systems installed by them is one of the best available in the market. He also assured verbal regarding the energy efficiency of such systems, further he impressed the employees of QQ stating that they will recover the installation costs within two years of installation. Such verbal statement of the sales representative is an implied contract and can be used in the civil court of law to challenge the company. In Contract law terms and arrangements can be either verbal or non-verbal and it can be included while forming a viable case against the company. QQ on this stated terms had agreed to install DHS heating systems compared to other available in the market, hence DHS bears considerable responsibility regarding the same. Though the energy efficiency was not a part of the contract yet it had been verbally stated hence can be accounted as implied in nature. In this case DHS systems have avoided its Duty of Care and owe legal duty to the victims of the incidence. The defendant has obligation of duty which is legally enforceable and has avoided standards of working. The company has also had, Breach of Duty which it had from its basic business principles. The company has legal liability to install systems that do not cause potential harm or damage to any individual either physical or psychiatric in nature. It caused emotional distress and monetary loss of the company as well as its employees due to negligence[22]. The report conducted by QQ in regards to it heating systems by independent experts should be further be admissible in the court of law. DHS had its engineers and experts occupied in certain other contracts and in order to meet the deadline this contract with QQ had been done in a pressurized manner. It can be argued that they did not use their best engineers to install the systems and did not appoint any expert to check the system. It is not the responsibility of QQ to appoint independent experts in order to check for validity and stability of systems. In case QQ had not conducted an independent search regarding the matter it could have resulted in much higher disaster. Explosion of the sort that was experienced could have easily be avoided and harm could be circumvented in case DHS would had conducted a check on the systems. The gas leak which was diagnosed by expert prior to the explosion should have been told to the QQ employees such that they would have been more careful. The exp erts delay in report can also be attributed significant responsibility as his creating awareness regarding the system problems could have helped avoid accidents. The company can be filed for Tort of Negligence as it has succumbed to its Duty of Care, Breach and caused damage or injury to its victims. The plaintiff can claim for such damages from DHS and prove them to be special damages[23]. Though QQ cannot claim costs for additional heaters from DHS in case of any legal developments (LD) amongst the parties. In this case DHS needs to cover for any delay in claims or installation in the heating systems of the company. QQ can claim for the explosion that has been caused due to improper installation of heating systems. Such claims for damages can be done under Law of Torts itself that provides for settling harm or accidents in case of a contract law. Amy, Sally and Sean had been a part of the accident that took place and without their faults they succumbed to injuries. With the explosion of the heating system they being present in the room, had been injured and they can claim significant damages from QQ. QQ holds responsibility for the health and wellness of its employees and is also responsible for any accidents or harm occurring in the workplace due to accidents or whatsoever. It is the legal responsibility of employers for protection of health and wellness of employees. Hence in case the employees makes claim against QQ, it has to pay to them. Claims made by Amy, Sally and Sean for any losses from bursting of the heating system could not be claimed from DHS. QQ holds the responsibility for health and all accidents caused to its employees within the premises of employment. It is the responsibility of QQ to ensure that its employees do not receive any harm for the acts or doings within the premises of the company. The way in whi ch QQ will settle the claims made to its employees is a matter for QQ and it can do so from DHS with legitimate reasons. However, such claims cannot be directly impended upon to DHS by QQ. QQ can make a claim adding all relevant costs it deems significant and then provide it in the courts of law. An alternative argument to the said cases can be provided that QQ while shifting its office premises needed to verify all details pertaining to the businesses which it employs[24]. In regards to RSL the loss incurred by the company was significantly low and was economic in nature. In case QQ had formed the contract with all relevant clause and aspects covered then it probably would not have had incurred any issues. Further in case of DHS upon its delay and findings improper installation QQ had cancelled its contract then probably significant low losses to the company would have occurred. Another argument is that DHS and RSL tried their best and provided best services but due to certain errors in systems and human delay they work was delayed. Hence, QQ needed to provide them buffer time for covering of such aspects and need not claim any amount for such losses[25]. Analysis of the case for QQ and its subsequent contracting companies has highlighted inability to meet the terms of the contract. Both the companies have also violated terms of Law of Tort by harming QQ in terms of economic loss and physical as well as psychiatric damage. QQ can claim such damages in civil courts, which in turn can establish the damages cause by the companies and economic losses incurred. The plaintiff has all rights related to contractual and tort-related issues that have been suffered in the case. Also due to physical damages caused to QQ, Sean and Amy hence they have legal claim towards DHS for their losses. Apart from financial and economic loss, the plaintiff has also suffered high amount of physical and psychiatric damage which needs to be indemnified. Thus, alternative argument for the above cases holds that QQ should have verified each company details and then entered into contract terms with all details clearly and explicitly lay down. It can be argued that QQ entered the contract and abided by its terms by paying the sum on good faith without questionable arguments. QQ has suffered tremendous losses due to appointment of RSL as well as DHS for its various requirements. Especially DHS has harmed QQ expressively by ignoring its responsibility and not adhering to legal standards. It had also clearly specified its requisites the liability lays solely on the firms it had entered into for formation of the contract which failed to meet its standards. Thus, the contracting parties can be held legally responsible and binding for the terms of the contract as well as law of torts. Bibliography Book Chen-Wishart, Mindy.Contract law. Oxford University Press, 2012. Cooke, John.Law of tort. Pearson Education, 2007. Deakin, Simon F., Angus Johnston, and Basil S. Markesinis.Markesinis and Deakin's tort law. Oxford University Press, 2012. Fried, Charles.Contract as promise: A theory of contractual obligation. Oxford University Press, USA, 2015. McKendrick, Ewan.Contract law: text, cases, and materials. Oxford University Press (UK), 2014. Polinsky, A. Mitchell, and Steven Shavell, eds.Handbook of law and economics. Elsevier, 2007. Veljanovski, Cento G.Economic principles of law. Cambridge University Press, 2007. Journals Beale, Hugh, Denis Tallon, Stefan Vogenauer, Jacobien W. Rutgers, and Bndicte Fauvarque-Cosson.Cases, materials and text on contract law. Hart, 2010. Elliott, Catherine, and Frances Quinn.Contract law. Pearson Education, 2007. Koffman, Laurence, and Elizabeth Macdonald.The law of contract. Oxford University Press, 2010. Friedman, Lawrence M.Contract law in America: a social and economic case study. Quid Pro Books, 2011. Koffman, Laurence, and Elizabeth Macdonald. The law of contract. Oxford University Press, 2010. Harvey, William Burnett, and Stanley D. Henderson. Contracts: Cases and Comment. Foundation Press, 2008. Li-ming, W. A. N. G. "Certain Issues in Enacting Tort Law."Contemporary Law Review5 (2008): 001. Veljanovski, Cento G. "Economic principles of law. ." Cambridge University Press, 2007. Cases Ayres, Ian.Studies in Contract Law. Foundation Press, 2012. Cartwright, John.Contract law: An introduction to the English law of contract for the civil lawyer. Bloomsbury Publishing, 2016. Dobbs, Dan B., Paul T. Hayden, and Ellen M. Bublick.Torts and compensation: Personal accountability and social responsibility for injury. West Academic, 2009. Graziano, Kadner. "Comparative Contract Law-Cases, Materials and Exercises." (2009). Henderson, James A.The torts process. Aspen Publishers, 2007. Hogg, Martin.Promises and Contract Law: comparative perspectives. Cambridge University Press, 2011. Lunney, Mark, and Ken Oliphant.Tort law: text and materials. Oxford University Press, 2008. Poole, Jill.Casebook on contract law. Oxford University Press, 2012. Samuel, Geoffrey.Contract law: cases and materials. Sweet Maxwell, 2007. Schwartz, Victor E., Kathryn Kelly, and David F. Partlett.Prosser, Wade and Schwartz's Torts: Cases and Materials. Foundation Press, 2010. Steele, Jenny.Tort Law: Text, cases, and materials. Oxford University Press, 2010.

Adafruit Industries

Questions: 1. What are the origins of Adafruit Industries? 2. Who is Lima Fried and what are her skills? 3. In which industry does Adafruit Industries compete? 4. What are the core competencies of Adafruit Industries? 5. What is the source of sustainable competitive advantage for Adafruit Industries? 6. You are a senior executive working for Adafruit Industries: Describe the target market for Adafruit Industries. 7. What is the purpose of Business Level Strategy? 8. Provide an explanation for each of the four Business Level Strategies and the single integrated Business Level Strategy. 9. You are a senior executive working for Adafruit Industries: Provide your recommended Business Level Strategy to ensure the growth of Adafruit Industries. 10. What is the purpose of corporate level strategy? 11. Provide an explanation of Diversification strategy. 12. You are a senior executive working for Adafruit Industries: Provide your recommended Diversification Strategy to ensure sustainable growth and competitive advantage. Answers: 1. Adafruit was initiated by Limor Fried firstly from her dorm room, working on her final project making an open MP3 Player. Aside making her own project, she started making kits that consist of the materials that can be used by her fellows to accomplish their thesis project goals. It led the milestone to Adafruit Industry. 2. Lima Fried was grew in Boston and earned a degree of BS in Electrical Engineering and Computer Science (EECS) in the year 2005 from MIT. Fried is fully skilled in making new electrical gadgets which are helps DIY for all ages to. Her enormous talent leads many different gadgets that makes people easier n happier to use in daily life; to her credits. 3. Founder and Engineer of Adafruit Industries stated that Adafruit is involved as an electronics manufacturer and educational company in New York City. At the centre of the activity is the dispatch of the opposition New York's Next Top Makers. This opposition "will go about as a business quickening agent for New York based business visionaries, creators and producers, who which are going to be judged by board of specialists and additionally people in general and will get help on the way to commercialization, which is inclusive of business backing, studio space and special mentorship by industry experienced individuals including Shape ways, Adafruit Industries and Honeybee Robotics(Adafruit, 2012). 4. The Core competencies of the company are its source of competitive advantage, which is involved to in performing the method in such a way that it is accountable for being different from its rivals. The core competencies of Adafruit Company are innovation, processes, human resource, marketing, and technology, relation with customers and its associates and many more. Earning core competencies is difficult for organizations, while they are valuable for customers and in some cases they are difficult for competitors develop(Drejer, 2002). Moreover, the core competencies of Adafruit also involve dealing and manufacturing of electrical hardware such as laptops. The company also relies on the education it provides with respect to the technology. 5. The competitive advantages with respect to the sustainability, the company implements value-creatingstrategies. But it does not mean being implemented via any recentcompetitor. These strategies hold valuable, rare and non-substitutable features. Moreover, sustainable, competitive advantages are the benefits, which cannot be replicated and thereby can be sustained for long time(Porter, 2008). 6. The target market of the Adafruit Company is the young generation involved in the excess use of technology. 7. The purpose of Business Level Strategy is to satisfy the requirements and of the customers and their preferences through the best of the industries core competency to receive a good turnout(Goold, Campbell, Alexander, 2003). 8. The four levels of Business Level Strategy are: Competitive Strategy: this strategy gives its customers more benefits in lower prices from other companies. Cost leadership strategy: This strategy is applied to attract a greater number of customers to its side by reducing the price of the products than other companies. Differentiation Strategy: this strategy is applied when a company provide some unique or valuable services to its customers. A team with high skills and creativity, strong marketing and the best quality reputation makes this differentiation worth working. Focus Strategy: Focus Strategy works on a smaller number of customers. It is impressive to focus quality on small number other than more customers and less quality(Conklin, 2009). 9. The strategy recommended to the Adafruit is cost leadership strategy(Conklin, Applying Differentiation Strategies: Teacher's Handbook for Grades 3-5, 2007). The reason behind this recommendation is that the company is already thriving within the competitive market and thus needs to focus on the targeted market now. 10. The purpose behind adopting corporate level strategy to focus on the concerns based on the strategicdecisions, which a respective business makes and thus get influenced in terms of whole. 11. One of the most intellectual corporatestrategiesis used in order to enter in new markets or industries which are not part of the business operations currently. At the same time, creating a new product for new markets recognised. 12. The diversification strategy recommended to the Adafruit Company is in terms of getting sustainable growth with respect to their sales and profits within the current market such as grow in demand as well as with an intention of becoming a well developed industry. This might help in brand image building as well as product quality protection. Reference Adafruit. (2012, October 18). Adafruit. Retrieved May 19, 2016. Conklin, W. (2009). Applying Differentiation Strategies. Teacher Created Materials. Conklin, W. (2007). Applying Differentiation Strategies: Teacher's Handbook for Grades 3-5. Shell Education. Drejer, A. (2002). Strategic Management and Core Competencies: Theory and Application. Greenwood Publishing Group. Goold, M., Campbell, A., Alexander, M. (2003). Corporate-level strategy: creating value in the multibusiness company. J. Wiley. Porter, M. E. (2008). Competitive Advantage: Creating and Sustaining Superior Performance. Simon and Schuster.

The Standards of Risk Management

There are various risk management standards that can be applied at the local or international levels. Overall, various norms exist because countries may differ in terms of legislative practices, corporate responsibility rules, auditing processes, and reporting standards.Advertising We will write a custom essay sample on The Standards of Risk Management specifically for you for only $16.05 $11/page Learn More Thus, there are different risk management principles that can be adopted at the national level. Additionally, one should keep in mind that companies representing different countries can cooperate with one another. Therefore, it is important to develop internationally accepted standards and rules. For instance, such an institution as the International Organization for Standardization (2009) introduces the norms which can be recognised by businesses working at the international level. This is one of the points that should be singled out. Overall, these international norms can help companies establish partnerships because senior executives should see that both companies adhere to the same principles. Overall, organisations need to use these standards in order to strengthen their sustainability. By evaluating the performance of companies according to these criteria, managers can identify potential weaknesses in the organisational design, flaws in the financial reporting, quality control deficiencies, and so forth (Standards New Zealand 2009; Financial Reporting Council 2014). Furthermore, the knowledge of these norms can be useful for assessing the work of senior executives or frontline managers. As a rule, the compliance with these standards may not be obligatory for companies that are not publicly traded. However, by following these rules, one can make businesses more sustainable.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More These are some of the benefits that can be identified and students should not overlook them. As it has been said been before, there are many standards related to risk management. Among them, one can distinguish the norms established in Australia and New Zealand (Australian Government 2010, p. 2). These norms should be considered because they incorporate specific guidelines that can strengthen the sustainability of an organisation. For instance, one can speak about the requirement to pursue inclusive policies. In other words, the management should consider the opinions of various stakeholders in order to identify the threats to which a company can be exposed. Furthermore, risk management policies should be implemented at tactical and strategic levels (Australian Government 2010, p. 2). This policy can help companies identify potential risks at the early stages. Thus, the standards adopted in New Zealand and Australia should be considered. However, one should not suppose that international nor ms can be dismissed. The information about these rules is included in the curriculum because students may need to work in companies operating at the international level. So, they should understand risk management principles that may be adopted in other countries. By learning about these standards, a person can better evaluate the performance of the company. In other words, he/she can better understand the reasons why a company does not function effectively. Thus, this knowledge can contribute to the professional development of a person.Advertising We will write a custom essay sample on The Standards of Risk Management specifically for you for only $16.05 $11/page Learn More On the whole, these examples show that the knowledge of risk management standards is critical for future professionals who may represent different fields. This knowledge can help them assess the performance of a business. Moreover, these issues are important of anticipating possible challenges that a company may face in the future. Furthermore, this information can be critical for developing the strategies of a business. Finally, these standards can be regarded as guidelines that business administrators should follow. These are the main arguments that can be put forward. References Australian Government 2010, Risk Management Principles and Guidelines. Web. Financial Reporting Council 2014, Guidance on Risk Management, Internal Control and Related Financial and Business Reporting. Web. International Organization for Standardization 2009, Risk management – Principles and guidelines. Web. Standards New Zealand 2009, Risk management standard. Web. Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This essay on The Standards of Risk Management was written and submitted by user Charity Beasley to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Banning Guns Would be bad for The Economy Essay Example

Banning Guns Would be bad for The Economy Essay Example Banning Guns Would be bad for The Economy Essay Banning Guns Would be bad for The Economy Essay Essay Topic: Gun Control The assault The US, is home to the worlds highest per capita gun numbers. Gun control has been a matter of constant debate with proponents and opponents putting forth valid arguments to support their positions. Recent incidences of mass shooting have invigorated and emboldened those rooting for a ban on guns especially the assault rifles. Hypocrisy and politics have influenced the whole discussion surrounding the issue of banning guns leaving a vague picture of the real issues that should inform such arguments. In all the deliberations, there are vital aspects that many tend not to acknowledge, are ignorant of or ignore without giving them much thought. One such aspect is the economic consequences of a ban on gun ownership by ordinary citizens. Banning guns has a significant impact on the economy. The firearms industry is a big contributor to the U.S. economy and banning guns would have severe economic consequences. Banning guns will lead to massive job losses in the gun industry. The gun industry employs many people who would be rendered jobless in the case of a shut-down of the sector due to a ban on gun use by private individuals. The last two years alone recorded the creation of over 34000 new jobs most of which offer impressive salaries (Fraser, 2016). Currently, there are about 263223 jobs related to or in the firearms and other ammunition industry. Those working in the sector get to carry home an annual average remuneration package of $ 52220.The industries wages grew significantly from an initial $ 2.4 billion to roughly $ 6 billion in 2016. The economic figures for 2015 indicate that $ 42.96 billion of money pumped into the economy was from the firearms and ammunition industry with $ 5.79 billion of it going to the state federal governments a tax revenue. Given the figures, it is clear for one to see that the firearms and ammunition industry is one that has a huge potential for the econ omy contributing significantly to the countrys GDP (Gross domestic product). Several other industries are dependent on the viability of guns as a market product for their survival. The companies dependent on guns include those that manufacture, sell or distribute sporting ammunition, firearms and ammunition are all vital to the economys well-being. All these industries contribute significantly to the amount of money that government receives in taxes (Fraser, 2016). Gun sports may become a thing of the past in the event of a ban on guns. Money received by event organizers of such sports will be lost. As such, the money pumped into the economy through the sport may be lost. Fees that the relevant states charge for the all gun sport related events will be no longer available. The effect may be a strain on county revenues forcing some of them negatively impacting their service delivery due to financial constraints. The NSSF (National Shooting sports Foundation) noted that in 2011, expenditures on industry equipment were $ 5.3 billion. Firearms account for $ 2.4 billion of the total amount with the figure for ammunition used in rifles, shotguns and handguns standing at about $ 700 million. The remaining figure is filled up by other relevant accessories such as decoys, game calls, telescopes, hand-loading equipment, hunting dogs, components, other shooting and hunting equipment, and the costs associated with them. Sporting hunters spend an annual amount of $ 24 billion every year (Kay, 2010). Most the items that they need are found sports goods shops, pro shops and specialty stores that employ thousands and make a significant contribution to the gross domestic product. The U.S. firearms market supports other economies especially in Europe. About eighty percent of all firearms manufactured for commercial purposes globally are in the hands of American citizens. Many countries are usually keen on attending major firearm industry show to understand the market better. Some of the European economies are quite fragile and rely heavily on Americas goodwill for their stability. Most of them are allies underscoring the need to ensure that the policies adopted in the use do not serve to sabotage their economy. The prosperity of such nations is more beneficial to the Americas strategic interests compared to their failure. Brazil, a South American country is the single largest exporter of firearms to the U.S. The countrys economy is gaining strength as it tries to position itself as one of the fast-rising economies. A ban on firearms in the U.S. will send shocks to the economy and slow down its growth prospects (DiMauro, 2013). Criminal activities are bound to increase with a ban on gun ownership. The knowledge that individuals no longer keep guns with them will be a catalyst for increased criminal activities as many criminals hope to take advantage of peoples inability to defend themselves against an intrusion, burglary, mugging or attack (DiMauro, 2013). Cases of people losing their properties and hard-earned cash are bound to go up. Such losses may mean an inability by those affected to meet their financial obligations and contribute effectively to the nations GDP. Most proceeds of criminal activities tend to go unaccounted for as criminals try to avoid expenditures that may attract the attention of the taxman. The government as usual also stands to lose in such a scenario in the form of uncollected taxes. With an upsurge in criminal activities due to a ban on guns, potential investors may be scared of investing in the economy and opt for safer and more viable destinations. A simple ban will have created a huge economic nightmare for the country and slowed down its economic growth prospects. Areas around the world where the economies have suffered due to the presence criminal gangs that terrorize people and interfere with the economic activities in the have experienced low investor confidence. Before even imagining of placing a ban on guns and other ammunition, there is a need to consider such issues to avoid creating another major problem that has severe economic consequences. Some countries have even seen an upsurge in rings of extortionist gangs that demand a share of the revenues of traders affecting their profitability and as such their viability forcing many of the businesspersons to close shop due to losses (DiMauro, 2013). Gun ownership endears many people around the world to the U.S. as a country. The country is known for its unique culture that supports great freedom for the citizenry. The extent of freedom enjoyed by the citizenry is almost second to none. Gun ownership adds to the whole package that makes the countrys culture the most popular in the world (Kay, 2010). The experience has contributed to the success of many American industries not just from within but also outside the country. The movie industry has been one of the greatest beneficiaries. With knowledge of the freedom of gun ownership in the country, viewers of action movies that depict heroes using guns find the movies as being depictive of the reality on the ground. Actors in possession are not necessarily viewed as criminals like in many other countries. Rather, they are seen as being just like any other person able to defend themselves in the event that the need arises. Such depiction helps in managing peoples expectations as they appreciate scenes that appear realistic. The video games on the market such as Need for Speed thrive due to the existing laws that allow for carrying of firearms. Clearly, the firearms and ammunition industry is a major contributor to the U.S. economy and as such banning guns will be detrimental to the economy. The industry offers numerous and lucrative employment opportunities. Banning guns will lead to huge job losses in the firearms industry. Several other industries rely on the viability of guns as a market product for their existence. Expenditures on gun-related products offer a significant revenue stream for both business owners and the government in the form of taxes. The U.S. firearms market not only benefits the country but also other economies that rely on firearm exports to the U.S. for a considerable proportion of their exports. Banning guns may have the effect of increasing criminal activities, a factor that may cause among potential investors. Law investor confidence means less investment which will certainly slow down economic growth. One cannot underestimate the kind of enthusiasm that gun ownership creates among people from ot her countries towards the U.S. The interest in American affairs and culture helps promote the sales of the countrys products globally. There is a need for relevant stakeholders to reconsider any actions geared towards banning of guns for the sake of the countrys economy. References DiMauro, L. (2013). Gun control. [electronic resource] : restricting rights or protecting people?. Detroit, Mich. : Gale, 2013. Fraser, M. (2016). Politics, Guns, and Money. New Labor Forum (Sage Publications Inc.), 25(2), 102-104. doi:10.1177/1095796016639269 Kay, L. (2010, November 28). Area economy benefits from hunting. Daily News, The (Jacksonville, NC).

Project management Essay Example | Topics and Well Written Essays - 1500 words

Project management - Essay Example External groups, Individuals, Clients, Contractors, Funding Partners, Consultants, Employees and Work Force, and other government / regulatory organizations can be identified as stakeholders in a project, (Bourne, 2010). Further, categorizing the stakeholders according to the degree or level of impact they can put on a project activity or can get impacted by it. This knowledge of stakeholders assists in evaluating how the various interests of stakeholders should be addressed and managed in an efficient manner. 1.1. Role of Stakeholder Management The role of stakeholder management is to create utility for the project manager in order to get acquainted with all the participants / stakeholders of the project and their respective interests, create an equilibrium between the inputs / contribution and the incentive given by and to the stakeholder, set up an unbiased basis for effectively managing individual stakeholder requirements, decide the participation level of each stakeholder during the planning and execution part of the project, promoting stakeholder interests in the project through effective communication strategy and offering rewards to shareholders. Stakeholder analysis can be carried out at the commencement of the project or at regular intervals during the execution to track the changes in the attitudes of project stakeholders as the project advances, (Patrick, 2008). 1.2 Significance The significance of Stakeholder management lies in the need to make clear the consequences of predicted modifications, potential risks, and opportunities that face the project. Stakeholder management is also vital since it helps to identify the risks and planning for strategies to reduce the effects of risks on the project, (Deming, 1982). 1.3 Stakeholder Categories Stakeholders can be easily classified into four different categories depending upon their potential to collaborate or threaten the project execution or results. 1. Supportive stakeholders are those who do not wis h to threaten the project proceedings and desire to support the project goals and objectives. These types of supportive stakeholders may include the suppliers, funding organizations, company management and consultants. 2. Marginal Stakeholders are those who are neither extremely menacing nor helpful, even though they possess a large stake in the project and can affect the decisions, but are not in general concerned. These may consist of environmentalist groups, and media. 3. Non Supportive Stakeholders are those that have an elevated potential to influence the project in a threatening manner but are short on the potential for cooperation and are the most worrying source of concern for the project manager. These may include the labor unions, governmental organizations, and at times the media. 4. The  mixed stakeholders possess an equal potential to assist or threaten the project and usually consist of clients, end users of the project, (Rowley, 1997). 1.4 Efficient management of St akeholder management Lastly, in order to effectively manage stakeholders within a project environment, it is