The Social Capital Of The Global Mindset - 1122 Words

Second, the global mindset provides the new area, which will test and improve the leadership in the future. The social capital of the global mindset nurture people ability of communication. As strong leaders, the communication is important skill that can help them to develop business with new costumers. Also, a good communication makes a good relationship between employee and leaders. In the article â€Å"leadership is a conversation† introduces a new conversation model between leaders and employees. â€Å"The command –and control approach to management has in recent years become less and less viable†(Adam, 2012). Leaders have to know how to communicate with their employees, so the accumulating commutation skill is effective method to help them solve problems. I called the â€Å"4I rules† - intimacy, interactivity, inclusion, and intentionality. Intimacy means listening. The leader pay more attention to listen employee’s’ suggestion, they wil l emotionally close and gain trust. Interactivity means the fluid dialogue. A good communicate will bring some different suggestions. Inclusion represents to expand employee roles, encourage them to share ideas. Intentionality means cross-organizational conversation and builds an agenda and strategy. I am the president of UD Chinese Students and Scholars Association. We hold many activities. For example, we held â€Å"the voice of UD (singing competition)† at Oct 31. Through this event, I found several members couldn’t finish the task perfectly. Based on 4IShow MoreRelatedThe Challenges Of A Global Mindset1274 Words   |  6 Pages organizations have an increasing need for their leadership to possess characteristics of a global mindset, because of the global economy and the expanding global workforce. â€Å"Global Mindset is having a vision in the global region that you will be doing business and understanding what it will take to succeed† (Cabrera, A. Unruh, G., 2012, p. 23). Leaders who have the characteristics of a global mindset will have greater success in working with suppliers, partners, and colleagues across the globe;Read MoreThe Article On Making It Overseas905 Words   |  4 Pagesdeveloping skills of global leadership, working all in various countries is one of the strategies which people can gain capabilities for cross-cultural issues. However, by gaining working experience overseas is not the only determinant to decide leaders’ success. In order to succeed overseas, leaders need a global mind-set, which includes Intellectual Capital, Psychological Capital, and Social Capital, and each of them are defined by three specific characteristics. Intellectual Capital, a collective knowledgeRead MoreGlobal Leadership711 Words   |  3 Pagescalled the GLOBE project. Of course, there are also parts of the Chinese ideal leadership profile that are similar to the American profile, but it’s usually the differences that get managers in trouble. In a recent survey of senior executives in 100 global corporations, conducted by Worldwide ERC, 95% of the respondents reported that national cultures of the places they do business in play an important or very important role in the success of their business mission. So much for a â€Å"flat world.† InRead MoreThe Success Factors Of Multinational Corporations1272 Words   |  6 Pageshave the global knowledge of consumer demands for services as well as products in a world scale, the knowledge of production and service capabilities, and also who can influence others in spite of diverse cultural or political backgrounds that make them think, analyze, decide, act and communicate in a different way than the leader (Teagarden, n.d). One of the challenges multicultural corporations have is to identify the right people with the skill sets and aptitudes to manage in global organizationsRead MoreEssay on Leadership Challenges and Strategies in a Post-GFC World1460 Words   |  6 Pagesone to involve in. According to Voegtlin, Patzer, and Scherer (2012, p.2), the negative side outcome of globalization lead to a corrosion of corporate legitimacy, a loss of public trust in directors and partnerships, and to the deterioration of social capital. To solve this, CSR has become a motivated method for the organizational program performing the companies’ conflict to keep legitimacy as a necessary resource of business conduct (Palazzo, Scherer and Suchman, cited in Voegtlin, Patzer, and SchererRead MoreGlobal Mindset Is A Major Factor That Can Help People Fit Cross Cultural Environment1906 Words   |  8 Pagesglobalization gives more benefit to everyone. Global mindset is a major factor that can help people fit in cross-cultural environment. In the BUAD878, the course introduces the meaning of global mind set, how to improve the capabilities during globalization, and how the global mindset develops leadership in the future. In the book, I got some basic information and suggestions about the global mindset. Also, I read many articles that help me understand the global mindset and the leadership from many differentRead MoreThe World Wide Web As A Practitioner s Perspective1458 Words   |  6 Pageschallenges modern governments have to address, â€Å"The bilateral, government-to-government approach that has traditionally been the staple of American diplomacy is often insufficient to address threats†¦ which are almost always regional-and very often global in scope. These new challenges will yield only to an internationally coordinated, long-term effort.† Governments have been forced to communicate and collaborate more than ever, and a government’s ability to communicate can be credited to the worldRead MoreOrganizational Development And Employee Engagement1176 Words à ‚  |  5 Pagesfive primary focuses on talent management. Retention is a strategic opportunity for many organizations to maintain a competitive workforce† (De Long davenport, 2003, p. 30). Since human capital is a valuable asset to the business, then there should be effective talent management because managing human capital can be vital to the success of an organization. A significant percent of HR’s top level management believes that creating and maintaining their companies’ ability to compete for talent isRead MoreGlobal Physics : Global Thermostat Essay1465 Words   |  6 PagesMain issues: Global Thermostat has developed a groundbreaking technology not just to capture CO2 (Carbon Dioxide), but also to tap a trillion-dollar market and sell it. The company hopes to achieve its mission by leveraging new technology with market-based thinking. However, there still exist potential issues in terms of technology, economy and society, being the obstacles of implementing the ambitious plan. Technologically, it has been noted that effectively capturing large amount of CO2 from airRead MoreRoles And Development Of Mncs880 Words   |  4 Pagesresources such as funding capital, social networks, mentoring, technical assistance, and technological platforms. One such example is SAP’s collaboration with Endeavor Global, an NGO, to identify and support high impact entrepreneurs in South Africa, Kenya, Morocco, Angola, and Nigeria through its SAP Emerging Entrepreneur Initiative. According to the announcement, SAP unveiled a 3-year program to provide its workforce (for mentorin g), its technology, and financial capital (EUR 2 million) to support

Examination †Advantages Disadvantage Free Essays

Eating/Drinking: Establishment Name (egg. Lotus Restaurant) Type of establishment (Restaurant/Cafe/Bar/Pub/Tavern) Timings Dcord (interiors, theme, lighting, ambiance) Cuisine Served Conference/Banquet Rooms: Conference Rooms Room Size (square feet) Facilities Available (secretarial services, audio-visual equipment) Other Details: 24-hour front desk Air-condition public areas Airport transport- surcharge Airport transportation free Arcade/game room ATM/banking Audio-visual equipment Banquet facilities Bar/lounge Barbecue grill(s) Suitable for children Beauty Services Breakfast services Casino Catering Babysitting or child care Business center Cell phone rental Clubhouse Coffee shop or cafe Complimentary Newspapers Complimentary breakfast Computer rental Spa services nearby Spa services on site – Free Golf camps Gardens Concierge Boating Dance performances Travel counter Swimming pool Library Safari Book Shop Night club Luggage storage Backup generator Jacuzzi Wedding services Translation services Currency exchange Doorman Elevator/lift Exhibit space Express check-in/check-out Fireplace in lobby Fitness equipment Floor butler Front desk Full-service health spa Gift shops or newsstand Grocery Health club Internet access-complementary Internet access-dial-up Internet access-high-speed Internet access-surcharge Internet access-wireless Laundry facilities Limousine service available Marina on site Massage-treatment room(s) Medical services Meeting room(s) small groups Microwave in lobby Multilingual staff Nightclub Number of floors Parking(free) Parking(secure) Parking(surcharge) Parking(valet) Parking garage Parking nearby Patio-property Picnic area Pool Table Poolside Bar Porter/bellhop Private beach Restaurant Room service Room service(24 hours) Room service(limited hours) Safe deposit box-front desk Sauna Secretarial services Security guard Shoe shine Shopping on site Ski shuttle Ski storage Ski-in/ski-out Smoke-free property Spa services on site. . We will write a custom essay sample on Examination – Advantages Disadvantage or any similar topic only for you Order Now How to cite Examination – Advantages Disadvantage, Papers

Business Ethics for Practices and Processes-myassignmenthelp

Question: How managing ethical risk in oil and industry relate to reducing accidents. Answer: One of the industries prone to risks and accidents is the oil and gas industry (Gardiner, 2011). Ethical considerations while operating in this industry is highly fundamental because a simple mistake can lead to mass destruction and even loss of lives (Danielle, 2015). While operating oil and gas organizations, the management should know that the company has the responsibility of ensuring everything goes as expected to prevent environmental pollution, and accidents which result from fire and other aspects associated with these products. Corporate Governance One of the ethical risk management in oil and gas industry includes reducing the chances of oil leaks, spillage and explosion. Corporate governance aids in reducing accidents in the fact that managers emphasize on ensuring there is safe working environment for all employees (Iqba, 2015). Through working in a system of rules, practices and processes, employees as well as the management considers avoiding accidents which result from negligence. Corporate governance in oil and gas industry helps in balancing the interest of different stakeholder and working based on the law (Humphrey etl., 2016). This help in minimizing accidents because the employees and the management work for the benefits of not only the organization but also for the wellbeing of all stakeholders. Certification and Training Managing risks includes certification and training employees on how to reduce accidents from happening (Wicksten, 2015) managers should empower employees through allowing them to play a role in developing policies, procedures and incentives. The major importance of empowering employees to develop policies is that they will be able to understand and follow them while undertaking their day to day duties. When employees are trained concerning their responsibilities while handling oil and gas products, they understand it is unethical to let living things perish because of negligence. Training employees is important because it improves workplace safety productivity and satisfaction. It also provides them with skills which enable them to handle the products with keenness to ensure the chances of accidents are minimized. Managing risk relates with reducing accidents in the fact that taking risk prevention measures leads to the reduction of accidents. Code of Conduct Establishing code of conduct for employees is vital for the organization because it plays a significant role in outlining the organizations expectation and guiding principles for appropriate workplace behavior (Kihyun, 2016). The code of conduct in the oil and gas industry is vital because it provides legal and ethical guidelines which strengthen the relationship between clients, service users and employees. With this type of relationship, accidents are minimized because the company manages risks to improve the wellbeing of all stakeholders. Provision of Incentives There should also be provision of incentives to improve the safety culture. This should start by training employees on risk management techniques and also letting them know that managing risks in this industry contributes to reduction of accidents (Danielle, 2015). The three incidences provided in the case study shows managing risk is related to reducing risks because all accidents resulted from not taking the required measures to manage risks. How ethical leadership assist the oil and gas industry to manage risk. Ethical Culture Performance of every organization is always determined by the kind of leadership exercised by the senior officials. Ethical leadership in gas and oil industry can aid in managing risk in a number of ways (Cardenas, 2015). First, if the people in charge of the companies practices ethical leadership and understand the risks of neglecting things which can lead to accidents, they will always ensure all procedures required during production, transporting and storing these products are followed (Kihyun, 2016). The major cause of most accidents which occur in oil and gas industry is lack of valuing ethics in leadership. A leader who leads a company which operates in is industry should always understand that the products which the firm deals with risk the lives of human beings, animals and plants (Banerjea, 2010). Therefore, they should lead the organizations in a manner which allows everyone to understand that it is unethical to risk lives because on negligence. This can be obtained through leading by example, training, setting rules and regulations and so forth (Danielle, 2015). Ethical leadership leads to making other people in the organization to be ethical. If a leader understands doing a particular thing will lead to a particular risk, he/she will also make other people in the organization understand that (Iqba, 2015). Through enabling everyone in an organization understands doing a particular thing is wrong or wring, there will be reduction of risks because people will be doings things which can ensure maximum safety of environment and living things. Respecting Human Rights The characteristic which define ethical leadership are the ones which assist in managing risks in this industry (Iqba, 2015). For example, ethical leaders know it is unethical to neglect doing what can prevent accidents from happening. The fact that they exercise kind of leadership which is directed by respecting ethical beliefs, dignity and the rights of other people will always prioritize minimizing risks which can harm others. Ethical leadership will also reduce risks in oil and gas industry through informing other staff members that every living thing has the right to live, and neglecting to prevent things which risk other peoples lives is unethical (Kihyun, 2016). Ethical leaders direct organizations to do what is right for not only the benefits of the organization but also for the benefit of other people. Ethical leaders respect the rights of individualism, dignity and opinion of other people. This kind of leadership does not force its viewpoints on subordinates but seeks to understand and accommodate the positive differences and standpoints of other people (Kihyun, 2016). Respecting other peoples rights assist in minimizing accidents in this industry because the management understands human beings have the right to live, and therefore manages all risks in their organizations. Culture of Responsibility and Transparency Ethical leadership encourages the culture of responsibility and transparency (Gardiner, 2011). In all industries, oil and gas is among the industries which require the essence of accountability because lack of taking responsibilities may lead to serious risks. Ethical leadership makes all the people in the organization to understand that they are accountable for whatever lack of managing risks (Aaron etl., 2017). Practicing ethical leadership reduces risks in the fact that it assists the management and other employees to know the importance of including corporate social responsibility and obeying the law in their operations (Iqba, 2015). The other reason why ethical leadership can help in managing risks in gas and oil industry is that ethical leaders do not encourage culture of corruption and greed. In some cases, some of the accidents which occur in this industry result from leaders entertaining greed and corruption in their organizations (Banerjea, 2010). A good example from the case study is the kind of leadership associated with Enron case of the 90s. Quality Management The other way which ethical leadership can assist in managing risks in oil and gas industry is through quality management and safety control. Ethical leaders understand that organizations should ensure there is safety for not only the employees but also for other stakeholders (Douglas, 2010). Ethical leaders ensure no deaths, injuries or environmental pollution which results from lack of following the required guidelines during production and transportation of these products. ensuring quality management also plays a significant role minimizing risks in this industry because ethical leaders emphasizes on regular inspection of pipes, storage tanks and other facilities to ensure they are of good quality. According to Iqba (2015), oil and gas industry is one of the industries prone to accidents and therefore quality of not only the oil and gas but also for all equipment involved in production, transportation and storage should be prioritize. Compliance with Law, Policies and Procedures Ethical leaders direct organizations to operate based on rules to attain their objectives (Kihyun, 2016). Operating based on the law means the organizations does the right thing and follows the required procedures during production, transportation or storage of the oil and gas products. Ethical leaders make employees understand the consequences of breaking not only the national law but also the company rules and regulations. This makes every person in the company to do the right things even when the results do not benefit them. Ethical leaders direct organizations to adhere to the required policies and procedures of doing things. In some cases, accidents in this industry because of using shortcuts while handling the products (Banerjea, 2010). Following procedures during transportation, production or storage of oil and gas products aids in minimizing risks because people do not neglect doing what is right. Empowerment According to Julie (2015), ethical leaders empower employees through trust and encouraging open communication. Through empowerment, leaders who practice ethical leadership manage risks because employees have an input and control over their work. They also openly share ideas about how to minimize risks. According to Iqba (2015), empowered employees commit themselves to the tasks they undertake and ensure they mind the wellbeing of their counterparts and that of the society. Conclusion Ethical leadership can help in managing risks in gas and oil industry through various ways. Some of these include encouraging culture of responsibility and transparency, environmental risk management, and through quality and safety management. Ethical leaders do what is right for the benefits of not only their organization but also for the benefits of other people. This means if all leaders in oil and gas industry adapt this kind of leadership, risks which arise from various aspects like spillage, bursting and leakage can be managed. Bibliography Aaron W. Tustin, 1 Annemarie G. Hirsch, 2 Sara G. Rasmussen, 1 Joan A. Casey, 3 Karen Bandeen-Roche, 4 and Brian S. Schwartz, 2017. Associations between Unconventional Natural Gas Development and Nasal and Sinus, Migraine Headache, and Fatigue Symptoms in Pennsylvania. Envorimental Health Perspectives https://ehp.niehs.nih.gov/EHP281/ Banerjea, P. K., 2010. Wholesome Ethical Leadership[dagger]. IUP Journal of Corporate Governance, 9(1/2), pp. 45-57. Cardenas, G. J., 2015. The Era of Petroleum Arbitration Mega Cases: Commentary on Occidental V. Ecuador, ICSID Award, 2012. Houston Journal of International Law, 35(3), pp. 34-56. Danielle, K. A., 2015. Transporting Oil and Gas: U.S. Infrastructure Challenges. Iowa Law Review, 100(3), pp. 67-78. Douglas, P. A., 2010. At What Cost, Intelligence? A Case Study of the Consequences of Ethical (and Unethical) Leadership. Military Review,, pp. 25-45. Enzo, F., 2011. Review: Blowout in the Gulf: The BP Oil Spill Disaster and the Future of Energy in America. Electronic Green Journal, Volume 42, pp. 56-67. Emilia Hermelinda Lopera Pareja (1), Ana Garca Laso (2), and Domingo Alfonso Martn Snchez (2), 2015. Discourses and values underpin public debate on fracking in Spain: Acase study at the crossroad. Geophysical Research Abstracts. Vol. 17, EGU2015-1934, 2015 Gardiner, S. M., 2011. A Perfect Moral Storm: The Ethical Tragedy of Climate Change. New York: Oxford University Press. Humphrey, P., Carter, D. A., Simkins, B., 2016. The market's reaction to unexpected, catastrophic events. The Journal of Risk Finance, 17(1), 2-25. Retrieved from https://search.proquest.com/docview/1756475345?accountid=30552 Iqba, Z., 2015. CEO Age, Education, and Introduction of Hedging in the Oil and Gas Industry. Journal of Economics and Finance,, 39(1), pp. 65-78. Juanes, Ruben Shaw, John H., 2017.Coupled Flow and Geomechanical Modeling and Assessment of Induced Seismicity, at the Castor Underground Gas Storage Project, Final Report. Page 73 Conclusions ; Page 74 Recomendations Julie, C., 2015. What Is an Ethical Leader?: The Characteristics of Ethical Leadership from the Perceptions Held by Australian Senior Executives. Journal of Business and Management, 21(1), pp. 123-128. Kihyun, L., 2016. Ethical Leadership and Followers' Taking Charge: Trust in, and Identification with, Leader as Mediators. Social Behavior and Personality: an international journal, 44(11), pp. 234-256. Nyankson, E., Rodene, D. Gupta, R.B. 2016, "Advancements in Crude Oil Spill Remediation Research After the Deepwater Horizon Oil Spill", Water, Air and Soil Pollution, vol. 227, no. 1, pp. 1-22. Perry, R., 2011. THE DEEPWATER HORIZON OIL SPILL AND THE LIMITS OF CIVIL LIABILITY, Washington Law Review, vol. 86, no. 1, pp. 1-68. Urbanavicius, Jonas, 2015. European Networks Law and Regulation Quarterly (ENLR) ; Berlin 3.2 (2015): 93102. Wansley, Matthew T., 2016. Regulation of Emerging Risks. Nashville 69.2 (Mar 2016): 401-478. Wicksten, M. K., 2015. Vertical Reefs: Life on Oil and Gas Platforms in the Northwestern Gulf of Mexico. College Station, TX: Texas AM University Press.

Kem chicks free essay sample

Marketing Offering first quality meat. The products composed of various basic needs of household plus other complementary items. Kem Chicks had only one shop Operations Total labor count of 500 employees. Finance Kem Chicks is liquid. Internally generated funds are fully committed. Human Resource Training is made by Director. Reshuffling of personnel. Recruitment of younger personnel with higher education background. V. STATEMENT OF THE PROBLEM How will Kem Chicks expand its supermarket by its own investment while sustaining its growing operations? VI. STATEMENT OF OBJECTIVES Short Term Objectives: a. To train its personnel in their careers. b. To produce high quality product. Long Term Objectives: a. To formulate a strategy in order to gain economies scale for existing supermarkets. b. To maintain and develop a competitive position in the growing industry. c. To expand its supermarket business. VII. SWOT ANALYSIS Strengths Weakness First quality meat Valuable human assets Harmonious relationship between employer and employees. We will write a custom essay sample on Kem chicks or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Good personnel management Caters the needs of immediate community. Lack of Marketing Strategies. Kem Chicks had only one shop. Weak long term strategic planning. Difficulty with over-the-counter communication Lack of internal control. No particular designation of job. Opportunities Threats Expansion of the business. Acquisition of rival terms. Diversification of the business Customers’ word of mouth. Rising interest rates. Declining price at all. Investment risk is at high level Increasing Competition Natural calamities Declining price of oil Government regulations, rules and policies Change in customers preference VIII. ALTERNATIVE COURSES OF ACTION Given the facts examined, the alternative course of action will then focused on the types of franchising alternatives since it is stated that franchising has been thoroughly studied by group of individuals for Kem Chicks existing problem. 1. Indah Chaidir should come up with the Product Distribution type of franchising. 2. Indah Chaidir should enter into a franchising agreement called Entire Business Format franchising. 3. Indah Chaidir should consider the Product licensing arrangement type of franchising. It Will not cater development of Kem Chicks internal management thus it does not support the supermarket as a whole. 2. Indah Chaidir should enter into a franchising agreement called Entire Business Format franchising. ADVANTAGE DISADVANTAGE Kem Chicks will have full control of the business. Mistake of one franchisee will bear to the image of the company Security in the protection of the rights and property of the company. 3. Indah Chaidir should consider the Product licensing arrangement type of franchising. ADVANTAGES DISADVANTAGES Improve its quality control policies. No assurance of success. Right to manufacture or modify Kem Chicks in a certain area of distribution Will pre-empt all important position in the organization X. DECISION STATEMENT Considering that the industry is reaching toward the peak of its growth phase, Kem Chicks faces tough competition with a limited choice of land and location. Also, an increasing bargaining position on the part of the shoppers, each element of the key success factors should therefore not be neglected. Since the profitability of the investment in a new outlet is highly dependent on the level of sales and cost, each of the success of this investment. Therefore, The group have concluded that the best solution to the problem is alternative course of action number 2 which is to enter into a franchising type called entire business format franchising because of the following reasons: †¢ Franchisee operates exactly the same as franchisor because the entire franchise was provided by Kem Chicks. †¢ Kem Chicks will generate different types of income such as management fee, training fee, reporting system fee and other from the franchisee. †¢ Privacy of their field of expertise or specialty will be maintained by Kem Chicks on their own because under this type of franchise, Kem Chicks is the sole provider of all information and needs of the franchisee upon proper payment. The group did not choose Alternative Courses of action number 1 . † Indah Chaidir should come up with the Product Distribution type of franchising. †because it will not cater development of Kem Chicks internal management thus it does not support the supermarket as a whole. The group did not choose Alternative courses of action 3 â€Å"Indah Chaidir should consider the Product licensing arrangement type of franchising† because there is no assurance of success and it will pre-empt all important position in the organization. XI. IMPLEMENTATION PROGRAM Short- Range 1. To build a franchi se relationship founded upon a contract, which should contain all the terms agreed upon. 2. To develop first a successful business format (the system), which is identified with a brand name, be it a trademark, service mark and/or trade name. 3. To initiate and set a period wherein they will train the franchisee in the operation of the system prior to the opening of the business so that the franchisee is equipped to run the business effectively and successfully. Kem Chicks must also assist with the opening. Long-Range 1. To maintain a continuing business relationship with the franchisee to provide the franchisee with support in the operation of the business. 2. To permit the franchisee, under the control of the franchisor, 3. To operate under the branding and the business systems developed and owned by the franchisor and to benefit from the goodwill associated therewith. 4. To make a significant capital investment from own resources. 5. To make the franchising of the supermarket business successful, we should consider the key success factors. These factors consist of: a. Sufficient capital for investment. b. Managerial Skill/Human Resource c. Location d. Quality of Service e. Image ( brand and product image) f. Quality of exclusive product and assuranceg. Atmosphere and security h. Accessibility (parking, supporting and facilities) i. Layout and design XII. PROPOSED OPERATIONAL PLAN Management Develop the various strategies to attain long term and strategic planning Recommend training on each division Convey a sense of family unity in the organization Decisions and full responsibilities are made by the directors Marketing Offering first qua lity meat Promotional activities are decided by the Kem groups Its product compose of various basic needs of household plus other complementary items Kem chicks had only one shop Operations Distributing sausages through Jakarta and surrounding areas Total labor count of 500 employees PT Kem foods that processed meet supply Has a current capacity to produced 900 tons of meet a year Finance Internally generated funds are fully committed Kem chicks is liquid Leading among the cumulative value of transaction of non major supermarkets Human Resource Recruitment of higher educated your personnel Reshuffling of personnel Training courses are made by the director XIII. OTHER PROBLEMS AND RECOMMENDATION Problems Recommendations 1. What will be the Kem Chicks franchise agreement? The franchise agreement grants to the franchisee the right to operate a Kem Chicks supermarket, at a single address, for a period of 10 years. These rights include the use of Kem Chicks trade name and trademarks, proprietary products, store design, signage , and use of Kem Chicks methods of operation. In return the franchisee agrees to operate the business in accordance with the Kem Chicks established standards of quality, service, cleanliness and customer service. The Franchisee is expected to do hisutmost best to operate his store to achieve the fullest potential of the store in terms of profitability and customer delight. 2. What does Kem Chicks look for in a prospective Franchisee? Kem Chicks looks for a franchisee applicant with the following characteristics: Highly motivated and shares the same values as Kem Chicks in terms of commitment to human resources, quality and service. Dedicated to running the business on a full time bas is, not as an investor but as a hands-on operator. Financially capable of meeting the financial requirements. With an entrepreneurial drive willing to take calculated risk, and with the strong desire to succeed. With business management skills preferably with food or retail experience. Very good interpersonal relationship skills. Willing to operate within the Kem Chicks system. 3. How much is the franchise fee? The franchise fee, which is paid upon the signing of the franchise agreement, is for the rights to use the franchisor’s trademark and business system as well as for the activities at the start of the franchise agreement such as site evaluation, assistance in recruitment and training for the initial store team. 4. Does Kem Chicks provide financing? No, Kem Chicks does not provide financing. 5. How long is the Franchise Term? The Franchise term is for ten (10) years. 6. How much is the royalty fee? The royalty fees are paid on a monthly basis for the on going use of the Kem Chicks name and systems as well as for the continuing support activities of Kem Chicks. a) Full Supermarket- 10% of purchase goods. b) Meatshop- 25% of total monthly gross sale. 7. How much is the Advertising fee? The advertising fee is 2% of the total sales derived from both supermarket and meatshop and is paid on a monthly basis. 8. Will training be provided? Kem Chicks will provide training for one Managing Director, the management team and the crew who must all successfully complete the Store Operations Training Program. The training for the initial batch of hires will be free of charge but all succeeding training for new employees will be charged. Training excludes salaries, meals, transportation, lodging cost of the employees and out of pocket expenses of trainers for training activities conducted outside of Jakarta. The Franchisee’s Managing Director and store crew will also be required to attend trainings during the duration of the franchise term to upgrade their skills. A Kem Chicks Operations Manual will also be provided for the reference purposes and will be updated as needed. 9. Will Kem Chicks provide the manpower to operate the store? Kem Chicks team will assist the franchise in the recruitment of its personnel free of charge for the initial store team but recruitment cost will be charged for succeeding hires. The store personnel will be directly hired by the franchisee and will be responsible for their salaries and benefits. 10. Who looks for the location? When you apply for the Kem Chicks franchise, you may propose a site location, together with an initial market study of the proposed site, which will include the foot and vehicular count, competitive business establishments, and demographics (area profile). Our site selection Department will assess the site and validate the market study. 11. What continuing support will I receive? Ongoing support includes regular in – store visits to help you identify areas of improvement, assistance in the development of marketing and customer relations programs and activities, new operating procedures, and much more.12. What will my return in investment be? Although the brand name of Kem Chicks is a strong sales inducing factor, the amount of money a franchisee can expect to make will greatly depend on the ability of the franchisee to manage the business, drive sales volume, and control operating costs. 13. Is there territorial or area exclusivity? Kem Chicks does not grant territorial exclus ivity. Stores may be situated depending on market and customer needs. 14. How can I apply for a franchisee? 1) Fill out completely the Franchise Application Form. 2) Prepare the following: Letter of intent addressed to the Franchise Relations Manager Address, location, and vicinity map of proposal (to include site description, including business establishments within 1 km. radius) Comprehensive resume of the applicant (personal background information credit references, latest ITR, fixed assets and liabilities, proof of billing address, list of membership organizations, 22 colored photograph) XIV. MANAGEMENT LESSON LEARNED 1. Thorough knowledge on franchising business can choose among a wide range of distribution and expansion strategies, the group learn about the history of franchising and how it affects the industry. Franchise system played a big role in expanding businesses. 2. Economics of scale in order to stay in the industry, growing your business is a must. Growth can make good business sense better brand recognition, building value in the business for employees and customers, offering a wider range of products and services to a larger geographical markets, and creating â€Å"economies of scale†. 3. Develop your people – They prioritize their human resources development. Developing the capability and potential of your people is a key leadership and management competency. It shouldn’t be optional. 4. Franchising offers business owners a vehicle to quickly expand their businesses and increase market share without a major capital investment. 5. Franchising is a business partnership between a franchisor and a franchisee. The franchisor is the current legal owner of a franchising enterprise while the franchisee is the party interested to replicate the business in another location. 6. Systematic planning can result in the consideration of new products, new markets and new ways of doing business. A company considering expansion into a new market segment must plan all facets of this endeavor from manufacturing needs to marketing support. 7. Effective staff management is essential to ensuring your workplace runs smoothly and efficiently, and that the right employees are in the right positions. Employees who are well-managed and receive continuing training and evaluation are better prepared to do their jobs and to serve your customers. This can lead to better profits, more satisfied clients and an increase in repeat business.

Life as a Native of Calicut, T essays

Life as a Native of Calicut, T essays Life as a native of Calicut, Tlaxcala, and Essaka was harsh, especially when they had to deal with the experiences and difficulties brought by the outsiders from other countries. The following will give you some insight into exactly how the invasion of a new country affects the lives of the natives. It will also include the emotions of the natives to the outsiders invasion and what affect it had during and after the invasion. It was the year 1405 when I had taken a long walk into the city of Calicut with my father. He was a merchant and it was my turn to begin learning the ropes on bartering and trading. I was told that I had to keep quiet when the Chinese arrived, I did not know what to expect. The thought of meeting face to face with strange foreigners automatically sent shivers down my back. My father had told me that the Chinese were such wonderful people because the new ruler allowed them to trade once again with the lands across the waters. (Levathes, p. 88) He told me we lived on a land that was called The great country of the Western Ocean.(Levathes, p.100) He said the people of the cities around us were called barbarians but we were not because the Chinese treated the Zamurin as an equal and had the utmost respect for their highly structured society with an efficient civil service, a well-trained army and navy, and a harsh system of justice. Like the Chinese emperors, the zamurins were patrons of literature and the arts. (Levathes, p. 100) Once we reached the trading grounds the word spread that the Chinese junks would be coming shortly. I became very anxious, excited and nervous all at the same time. I was about to see the great, powerful people from the sea. As the men stepped off their boats, my palms were sticky and beads of sweat began to accumulate on my brow. The majestic looking men covered with silk followed by their majestic looking fleets, walked o...

Business modelling Essay Example | Topics and Well Written Essays - 2000 words - 1

Business modelling - Essay Example It also helps in reducing clustered and excessive data in a given setting to a manageable amount. It helps one to select on the precise variables that can be used in the study of managing a business. Therefore, it will help in making decisions of the business (Yao and Li 2013). The variables in this technique helps in correcting certain mistakes that would otherwise been made in a normal business setting. For example, a business owner who thinks that extending business hours would certainly increase profits may re-think on this when they use the technique. This will go a long way in improving the business. Linear regression is normally used with variables that are represented linearly. This will limit this technique to only data that are linear and cannot work with non-linear problems. The variables that are dependent are normally in a continuous form or they are close to being continuous, that is, they are able to be represented by any value. This linearity between dependent and independent variables will not always be true since some relationships have a curved kind of representation. For example, the relationship between age and income is not linear, but curved. Income increases during early years of a person and slows down as the age of the person proceeds (Fearn 2011). Linear regression analyses the average in the relationship between independent and dependent variables. For example, when representing the relationship between the eating behavior of people and increase in their weight, this technique will represent the average weight of the food eaten with the change in their weight over time. This will not give a complete and clear description of the exact data that there is in a given situation hence there may be a misrepresentation of the data (Huang 2013). Linear regression is normally affected with variables that are on the extreme. These variables are known as outliers. They are

Fair Values in the Preparation of Financial Statements Essay

Fair Values in the Preparation of Financial Statements - Essay Example Relevant Information Information needs to be relevant to the needs of users in order to serve its purpose. However, there are also other fundamental qualities that financial statements need to have. These qualities include comparability, faithful representation, consistency, completeness, understandability, and reliability (BPP 2009a). Information is useless if it is not reliable and in a number of cases, the values described as fair values in the accounts do not provide a reliable estimate of the value of assets and liabilities. According to Bath (n.d.) concerns also focus on this matter. It should also be noted the more reliable the information is the less relevant it will be. Relevant information has predictive value, feedback value, and timeliness. Reliable information is verifiable Comparability of financial statements Financial statements need to be comparable from one year to the next and between one company and another. However, even though fair values may be said to be curre nt and therefore more comparable, the fact that judgment needs to be exercised brings subjectivity into play. In addition to that, those judgments on which investors and other stakeholders depend have their own agenda. In some cases, they may exercise their judgment in such a way as to manipulate the accounts. This, therefore, brings us back to the reliability of the figures in the financial statements. ... Â  the International Financial Reporting Standards (IFRS) requires that the classification of financial instruments be recorded at fair value in a hierarchy consisting of three (3) levels. The first level (level 1) relates to quoted prices that have not been adjusted for identical assets and liabilities in active markets. The second level (level 2) relates to input prices but excludes quoted prices which are included in the first level and which can be observed directly for assets and liabilities, in the form of prices or in the form of derived prices indirectly. The third level relates to both assets and liabilities that are not based on market data that can be observed. IASB concluded that this would result in improvement for comparability purposes as well as assist in the convergence process of the IFRSs to the United States generally accepted accounting principles (GAAP). The basis that was given for that conclusion relates to the disclosures required by IFRS 7 and ASC having no differences in terms of their application. Khalik (2008) in his paper entitled ‘The case against fair value accounting’ indicated that its critics have suggested that in times of poor economic conditions fair value (FV) accounting leads to the generation of pessimistic assumptions that further result in significant reductions in asset values as well as major reductions in earnings because of the fact that unrealised losses are taken into account in the income statement.