A Business Organization Of The Gilded Age - 1405 Words

Karen George Period 5 1/27/2017 A business organization left to monitor its adherence to legal, ethical or safety standards on its own, runs the risk of unmonitored and unfettered damage to the economy. The Gilded Age in America was a time in history marked by ruthless competition and zero business ethics that saw only a few rise to the top. John D. Rockefeller of the Standard Oil Company became a so-called â€Å"Captain of the Industry† and a household name. He served as the poster child for Capitalism and in the nature of a true capitalist, he amassed tremendous wealth. However, along with his incredible success, Rockefeller also became known as the â€Å"Robber Baron† due to his unethical business practices of monopoly. Rockefeller wanted to†¦show more content†¦At around the same time the Civil War began, the demand for his goods increased greatly, and he found himself amassing a small amount of wealth. And so, while the average worker earned about $8 a week, Rockefeller was on his way to be worth millions. Rockefeller introduced new techniques that completely reshaped the oil industry as well as how business was run. In 1859, Edwin Drake discovered oil in Titusville, Pennsylvania, and Rockefeller was quick to foresee a future. He was persuaded that refining oil would bring immense wealth and so he began to sell off his other interests. Around 1863, Rockefeller and several partners entered the booming oil industry by investing in a Cleveland Refinery. During the 19th century, kerosene was in high demand and during the process of refining crude oil to kerosene, there were many byproducts that many saw as waste, but thrifty Rockefeller saw it as gold. Byproducts such as petroleum jelly was sold to medical supply companies, paraffin to candlemakers, and other wastes as paving materials for roads. He kept shipping a plethora of goods, therefore, railroad companies drooled over the prospect of getting his business. Due to the immense use of railroads, Rockefeller demande d discounted rates, or rebates from them. The high cost of transporting his oil to his Cleveland refineries cost 40 centsShow MoreRelated The Gilded Age Essay1094 Words   |  5 PagesThe Gilded Age Mark Twain collaborated with Charles Dudley Warner on The Gilded Age: A Tale of Today. Published in 1973, as Twain’s earliest work of extended fiction, The Gilded Age gives a name to the period of opulence and corruption at the end of the 19th century. Portraying the superficial luxury of Washington and high society, the authors describe â€Å"The general laxity of the time, and the absence of a sense of duty toward any part of the community but the individual himself† (Twain 203)Read MoreEssay about Big Business In The Gilded Age1028 Words   |  5 Pages20th century, dubbed the Gilded Age by writer Mark Twain, was a time of great growth and change in every aspect of the United States, and even more so for big business. It was this age that gave birth to many of the important modern business practices we take for granted today, and those in charge of business at the time were considered revolutionaries, whether it was for the good of the people or the good of themselv es. The exact period of time in which the Gilded Age occurred is ever-debatableRead MoreWomen During The Civil War997 Words   |  4 Pagesdiffering and sometimes conflicted social standings during the Progressive Era. Attention is also given to specific strategies that were realized by organizations and groups, such as women’s conventions, schools, and settlement houses to help achieve their overall goal of equality. Attention is also given to specific strategies that were realized by organizations and groups, such as women’s conventions, schools, and settlement houses to help achieve their overall goal of equality. The paper also pinpointsRead MoreA Time Of Rapid Industrialization1713 Words   |  7 Pagesrapid industrialization in the United States. The great American author, Mark Twain, dubbed this period the â€Å"Gilded† Age. Gilded items are covered thinly with gold leaf or gold paint, which hides all that is inside. This idea is evident in this time per iod because America’s golden paint, or industrialization, was hiding all the economic and social problems on the inside. Although the Gilded Age brought along great advances in industrialization, it brought many new problems that were never experiencedRead MoreJohn D. Rockefeller : The Gilded Age Of The Gilded Age741 Words   |  3 PagesFollowing years of reconstruction, the U.S. entered a new age. For this new age, Mark Twain named it after the â€Å"glittering† surface of the time that covered vast corruption underneath. The late 19th century would be called the Gilded Age (Houston). From this Gilded Age, a powerful businessman emerged. John D. Rockefeller ruled the oil industry as king. Using his incredible knowledge of business, he rose up through the age to become one of the most influential businessmen in history. Amidst the 1880sRead MoreThe Gilded Age Of The Nineteenth Century And The Succeeding Period887 Words   |  4 PagesTwo prominent eras of American History were the Gilded Age at the end of the nineteenth century and the succeeding period, the Progressive Era. The Gilded Age, also know as the Second Industrial Revolution, was a peak of high economic development with the rise of technological advancements in a free market environment, meaning that the economy was driven by self-interest instead of government authority. Besides its economic growth, the Gilded Age handle changes in social divisions. After the abolishmentRead MoreReconstruction Of The Civil War1365 Words   |  6 Pagesto keep this going so when slavery was abolished, this frustrated and angered them. These states had left the Union. This led to the American Civil War between the North and South. The Gilded Age was one of the most dynamic periods in the history of America. Mark Twain gave this time period the name Gilded Age. It was during the late 19th century and our country was corrupt underneath. Southern states established laws that deprived African Americans. Laws were passed that would require votersRead MoreThe Gilded Age : The Gilded Age1340 Words   |  6 PagesMark Twain, an American writer, named the late 19th century, the ‘Gilded Age.’ This time frame is ‘gilded’ because the time was glittering with gold on the surface, but corrupt and rotten underneath. This was a time period full of greed and guile, filled with robber barons, speculators, and Buccaneers. Not only that, but there were many sneaky business schemes to get more income, improper politics, and many impolite displays. Although, it’s better to think of this time as modern America’s formativeRead MoreThe Vibrant and Unpredictable Era of the Gilded Age1050 Word s   |  4 PagesThe Gilded Age was one of the most vibrant and unpredictable eras in the history of America. It brought about a new wave of industrial and economic opportunities that allowed some to build massive businesses and fortunes, while other lower and middle class citizens struggled to survive. Some would go as far to say it created a war between the classes across American societies. Giants of industry, such as Andrew Carnegie and John D. Rockefeller, revolutionized how big business led to the riseRead MoreThe Gilded Age By Mark Twain1730 Words   |  7 PagesThe Gilded Age was a period from the late 1800s through the early 1900s. The name of this time period was given by Mark Twain and Charles Dudley Warner in their book The Gilded Age: A Tale of Today which expresses this time using two stories. One of a Tennessee family trying to sell undeveloped land and the other of two upper class businessmen. This book visits the highs and lows of living in this age. Those who are rich and plentiful, and those who are dirt poor. Showing the struggle people went

Fetal Alcohol Syndrome Essay - 2848 Words

On any given day in the United States... 10,657 babies are born. (US Census Bureau). Twenty of these babies are born with Fetal Alcohol Syndrome. Twenty may seem as though it is not a lot, but when you compare it to the fact that this number is more than HIV positive, Muscular Dystrophy, Spina Bifida and Down Syndrome combine it creates a whole new parameter. Fetal Alcohol Syndrome is a direct result of a woman’s competed disregard for the fetus. nbsp;nbsp;nbsp;nbsp;nbsp;Fetal Alcohol Syndrome (FAS, hereinafter), is a series of both mental and physical birth defects that can include, but are not limited to, mental retardation, deficiencies in growth, central nervous system dysfunction, behavioral maladjustments, and craniofacial†¦show more content†¦(The New York Times, January 19, 1994) nbsp;nbsp;nbsp;nbsp;nbsp;As mentioned above, a baby with FAS can suffer from many different birth abnormalities. These disabilities will indeed last a lifetime. There is no amount of alcohol found to be safe to consume during pregnancy. FAS is, however, 100% preventable when a woman abstains from alcohol. nbsp;nbsp;nbsp;nbsp;nbsp;FAS is the leading known cause of mental retardation. Approximately, one out of 750 live birth are born each year with FAS. (The Journal of American Medical Association, 1991) Thirty to 40% of the mothers who drink â€Å"heavily† throughout pregnancy have the syndrome. FAS is not limited to any one group, race, culture, or socio-economic background. Between one-third and two-thirds of children in special education have been affected by alcohol in some way. (The Journal of American Medical Association, 1991) nbsp;nbsp;nbsp;nbsp;nbsp;Comparison of children and adults with FAS shows that with the approach to adolescence, the specific craniofacial features are not as noticeable as they are in infancy. Average academic functioning of these children and adults does not seem to develop beyond early school grade level. The short stature and small head (micro cephalic), seem to be permanent. The most noticeable behavioral problems were found to be with comprehe nsion, judgment, and attention skills, causing these adults born with FAS to experience major psychological and adjustment problems for theShow MoreRelatedFetal Alcohol Syndrome942 Words   |  4 Pages Fetal Alcohol Syndrome According to Seaver, Fetal Alcohol Syndrome (FAS) is birth defects causing learning, and behavioral problems in individuals whose mothers drank alcohol during pregnancy. This disorder is very serious, yet it is recognized as one of the most preventable. This causes major issues, when something so serious could be prevented but is not. Fetal Alcohol Syndrome is a problem because it leaves a permanent effect on the unborn child, but some solutions could be educating women andRead MoreFetal Alcohol Syndrome1466 Words   |  6 PagesFetal Alcohol Syndrome â€Å"If women didn’t drink anymore during pregnancy, there would never be another baby born with Fetal Alcohol Syndrome or Fetal Alcohol Effect† (McCuen 33). This is a very powerful statement. It is also a very simple cure for an alarmingly high birth defect that all women have the power to stop. â€Å"Every year more than 40,000 American children are born with defects because their mother drank alcohol while pregnant â€Å" (McCuen 34). That is 1 to 3 per 1,000 live birthsRead MoreThe Disorder Of Fetal Alcohol Syndrome1018 Words   |  5 Pagesthe the disorder Fetal Alcohol Syndrome .This paper will aim to discuss what the disorder is ,it s history how it is diagnosed and the treatment and prevention of this disorder. Taking a sip a int hip Introduction :Behold, thou shalt conceive, and bear a son; and now drink no wine nor strong drink, neither eat any unclean thing(Bible-Judges 13:7).It has been known throughout history that the effects of alcohol use in pregnancyRead MoreEssay on Fetal Alcohol Syndrome1390 Words   |  6 Pageslead to many severe abnormalities in the growing fetus. More specifically, a disorder that will be explored in this essay is Fetal Alcohol Syndrome (FAS); caused by alcohol consumption during pregnancy. Since the alcohol is consumed in such a developing stage of the fetus, it can potentially cause many different complications in the unborn child. Fetal Alcohol Syndrome could easily be prevented with more awareness to the issue and its defining characteristics, how it affects the fetus during growthRead MoreFetal Alcohol Syndrome Essay1707 Words   |  7 Pagesof prenatal alcohol exposure (Lupton, 2003). This number will only continue to grow if the risk of drinking alcohol while pregnant i s not brought to the people’s attention. When the mother takes a drink of alcohol, so does the fetus, which will cause physical and behavioral problems after birth. Fetal Alcohol Syndrome (FAS) is completely preventable and irreversible. FAS awareness and prevention is important; expectant mothers need to know the background information about the syndrome, some commonRead MoreFetal Alcohol Syndrome Essay1699 Words   |  7 PagesFetal Alcohol Syndrome Fetal Alcohol Syndrome (FAS) is a condition affecting children born to women who drink heavily during pregnancy. There are three criteria used to describe the effects of prenatal alcohol exposure and to make a diagnosis of FAS. The first of these is a pattern of facial anomalies, these features include: #61558; Small eye openings #61558; Flat cheekbones #61558; Flattened groove between nose and upper lip #61558; Thin upper lip These characteristicsRead MoreFetal Alcohol Syndrome Essay1096 Words   |  5 PagesFetal Alcohol Syndrome (FAS) is a mental and physical birth defect. It occurs when a pregnant women consumes high levels of alcohol during her pregnancy. The effects of FAS can be traumatic in some cases, and in others children were slightly affected by exposure to alcohol. FAS has a wide range of effects on the fetus and infant, retarded growth, under developed facial features, slow cognitive development, and many more. The evidence of cases is overwhelming, yet in some societies it is still anRead MoreFetal Alcohol Syndrome Essay1522 Words   |  7 PagesFetal Alcohol Syndrome (FAS) is a disorder that can happen to children whose mothers drank sufficient amounts of alcohol sometime throughout their pregnancy. Fetal Alcohol Syndrome is a condition classified in a group called Fetal Alcohol Spectrum Disorders, and is the most known and severe of the group. FAS, depending on the factors such as location, population and race studied is considered one of the leading known causes of mental retardation and birth defects, with 0.2 – 1.5 out of every 1Read MoreFetal Alcohol Syndrome Essay1100 Words   |  5 Pagesyou want your child to have FAS? Read on and I believe you will come to the same conclusion as I have about FAS. FAS doesn’t sound so bad, but in reality it is. FAS means Fetal Alcohol Syndrome. FAS is a combination of physical and mental defects first evident at a baby’s birth. FAS is a direct result of a woman drinking alcohol during pregnancy. These defects continue through out the child’s life. One in five hundred children are born with FAS. Your baby is at risk no matter how much liquor youRead MoreEssay on Fetal Alcohol Syndrome2703 Words   |  11 PagesFetal Alcohol Syndrome Fetal Alcohol Syndrome (FAS) is a pattern of mental, physical, and behavioral defects that may develop in the unborn child when its mother drinks during pregnancy. These defects occur primarily during the first trimester when the teratogenic effects of the alcohol have the greatest effect on the developing organs. The symptoms associated with FAS have been observed for many centuries, but it was not until 1968 that Lemoine and his associates formally described these

Pre Activity Health Screening and Customer Care Free Essays

string(70) " to plaque in the heart therefore reducing the risk of heart disease\." Explain the reason why pre-activity health screening is necessary Pre activity health screening is used to highlight health problems that may be aggravated by physical exercise. A fitness instructor can then assess and prescribe the correct fitness plan for the individual. Screening takes place in the form of a questionnaire and physiological measurements. We will write a custom essay sample on Pre Activity Health Screening and Customer Care or any similar topic only for you Order Now Some health risks looked for by taking part in pre activity health screening are shown by Woolf, May (2006), categorised by risk factor. The first category is known as ‘primary risk factor’s’ which include high cholesterol and high blood pressure. These problems are related to some of highest risks to health such as heart attack when completing exercise . The ‘Secondary risk factor’s’ that may be aggravated by exercise include obesity that is indicated by a body mass index of over thirty kg/m2 and physical inactivity indicated by a failure to reach the minimum fitness standard required. The last category is ‘non modifiable risks’ that is made up of factors that can not be helped such as age and a family history of heart disease.Someone over the age of fifty is also considered to be a factor in this category. When an individual has completed a health screening questionnaire they may then be asked to take part in further tests in the form of physiological measurements. A persons body mass index may be taken by dividing their weight by height. This can tell a fitness instructor whether the individual is over weight which would need consideration when an exercise plan was produced.An individuals blood pressure may also be taken as a high reading is considered a high risk factor contributing to coronary heart disease. Another test that may be carried out would be the weight to hip ratio which measures distribution of fat around the body. If the person has more weight around the abdomen it is known as ‘apple shaped’ and is related to a higher risk of cardiovascular disease and diabetes. Completing pre activity health screening is becoming increasingly important for the fitness industry as the need for their services becomes more opular. The evidence shown suggests that health screening has the potential to save lives through diagnosing health problems that may be aggravated by certain physical activity, however a different kind of activity may be appropriate. Although health screening questionnaires are good for highlighting health risks the physiological measurements taken after are vital to further help both the instructor and the individual to diagnose health problems. (405) Q2) Discuss and analyse Reshma’s results.Your analysis should identify whether or not the results fall into healthy ranges, and discuss the implications of this with a particular focus on the risk of developing cardiovascular disease. Reshma’s PAR questionnaire showed that she answered ‘no’ all the questions, however she admitted to smoking ten cigarettes a day which is putting her at risk of serious health problems and is classed as a ‘primary health risk’ leading to coronary heart disease (Woolf May 2006). A number of physiological measurements were then taken. Reshma had a blood pressure which read 140 over 100 millimetres of mercury.Andy Russel explains that the first reading is systolic pressure which is a contracting heart and diastolic pressure is the heart relaxed. The average reading should be between 100 to 140 over 60 to 90 (mmhg) (The Open University 2008). A reading over 130 and 85 provides more risk of coronary heart disease in middle aged people . (Vasan et al 2001). Reshma then had her resting heart rate measured at 90 beats per minute. According to Netfit (2009), the average heart beat of a women of 48 years old should be between 74 and 77 and anything over 84 BPM is thought to be poor.Stress is one cause of a rapid heart beat and regular exercise would lower heart rate considerably. Reshma has a body mass index of 30. 5 which is calculated by dividing weight and height. Marie Toms explains that healthy people have readings between 19 and 24 and that anything over 30 is classed as obese (The Open University 2008). Reshma is putting herself at a higher risk of coronary heart disease and other risks such as cancer. Regular exercise would help Reshma lower her BMI and make her a lot healthier. Reshma’s waist to hip ratio was a reading of 1. 0.As Sharky and Gaskill (2007) suggest, the safe limit for women is between . 75 and . 8 which shows Reshma is in further danger of health problems which could be reduced by regular exercise. Reshma’s body fat percentage is shown at 33%. This reading is taken in 4 measurements with a calliper from the arm and back. According to Family education (2010), the average body fat percentage for a women of between 20 to 50 years old should be between 17 to 27 %. Reshma is clearly over the safe limits of body fat and combined with her other measurements is putting herself at serious risk.The evidence shows that Reshma is at higher risk of cardiovascular disease due to her results. Physical activity can reduce these risks and with regular exercise participation, Reshma would be considerably healthier. If Reshma stopped smoking she would decrease her chance of health problems even more. (402) Q3) Outline how physical activity could have a positive effect on Reshma’s health. If Reshma began a fitness plan she would see dramatic improvements to not only her physical health but her mental health too.Improvements to the efficiency of the vascular system and metabolic changes would increase better health both physical and mental health by reducing stress. Sharky and Gaskill (2007), describes the Vascular system as having many tasks in the body which include carrying blood with oxygen, hormones and food to the cells of the body. The system can be made more efficient when a person takes part in physical activity by reducing blood clotting in narrow coronary arteries. This is achieved by the arteries being made larger and educing the risk of blockage due to plaque in the heart therefore reducing the risk of heart disease. You read "Pre Activity Health Screening and Customer Care" i n category "Papers" A notable change of the system for Reshma would be that of blood pressure being reduced when regular exercise is carried out. Another benefit of physical activity on the system would be that blood volume increases by 10 to 15 percent and in doing this will lower Reshma’s heart rate over time. The metabolic changes to the body when participating in physical activity contribute to many factors in helping Reshma become healthier.Blood lipids including high cholesterol and triglycerides can be a factor of coronary heart disease. Important metabolic changes would be seen with an increase in fat metabolism because exercise burns fat and increases muscle which further helps to reduce fat. The metabolic changes are significant to Reshma as the metabolism of fat would help to lower her body mass index and would further contribute to a lower waist to hip ratio and body fat percentage. Physical activity not only helps physical health but can also improve mental health. Reshma has high blood pressure due to a busy lifestyle. Hendrix and Hughes(1997) states that regular exercise contributes to good health by lowering diastolic blood pressure and reducing stress. Exercise is also thought to be the best form of stress management because it not only reduces the risk of physiological problems but can also reduce anxiety and depression through its relaxing abilities. These factors would lower Reshma’s blood pressure to an acceptable level. When it comes to Reshma taking part in physical activity the benefits to health are endless.A more efficient vascular system and metabolic changes improve physiological factors in the body and improved mental health reduces the stress leading to a lower blood pressure and a better overall lifestyle. (399) Task 2 Q 1) What legislation governs health and safety in a sport and fitness facility, and how might these relate to this accident. The main legislation in the sport and fitness sector is the ‘Health and Safety Act Ect 1974’ . This act is known as a Statute Law which means it is provided by parliament and contains a number of acts that relate to all health and safety topics in an industry.The Child Protection at Work in Sport Unit may also be interested in Luke and Fiona’s case. As Heany and Goody (2008) suggest, the Health and Safety Executive governs a lot of the health and safety aspects in the sport and fitness sector through ‘The Health and Safety Act ect 1974’. The act protects the health and safety of people at work but it also provides health and safety for visitors to a facility. An important Factor in the case of Luke and Fiona could be ‘The Management of Health and Safety at Work Regulations 1999’ which states that an employer should carry out a risk assessment including risks to people not in his employment.A court may then ask if an appropriate risk asse ssment was carried out in preventing such injury happening to Fiona. The Child Protection at Work in Sport Unit, which is part of the ‘National Society for the prevention of cruelty to children’ may show concern because they may ask why Luke took Fiona into the gym in the first place As the sport and fitness sector grows in stature, the ‘Health and Safety Executive’ becomes more important in the guidance it gives in the of running the industry. (252) Task 2 Q2) Discuss whether or not Luke or his 14 year old Fiona would have a case for negligence against the facility.Explain the reason for your answer. Before a verdict of negligence is awarded a court will use the ‘law of tort’ which takes into account many factors. Jane Goody (2008) describes the law of ‘Tort’ as being a French word for a wrong and that the law makes a defendant protect someone from harm and owe a person a duty of care. The court must prove this by showing the defendant owed the person a duty of care, that the duty of care was broke n and that the person received injury due to a breach to the duty of care. Negligence is further explored by using other laws such as ‘Occupiers liability’ and the ‘Reasonableness test‘. These are of much importance in the case of Luke and Fiona When it comes to Luke and Fiona the receptionist does not owe a duty of care because although she let Fiona into the premises, she did not let her into the gym. However the Fitness Instructor did owe Fiona a duty of care because he did not ask for any form of identification. In doing this he broke that duty of care and it could be said, he then breached that duty of care when she was injured. Occupiers liability is the law that gives the occupier of a property or land, the responsibility to make sure such land or property is safe for people to enter.The notable law in the case of Luke and Fiona is that of Occupiers law of 1984 which states that land should be safe even for trespassers. (Jane Goody 2008). Fiona was classed as a trespasser as she entered the gym without permission but the owner still had to make it safe for her as a trespasser. However, the law then becomes more important in the case of Luke and Fiona because even though the defendant has a duty of care to make a facility safe for all, the law changes if the claimant is a child who should have been under the care of an adult.The court may then say that Luke was being negligent for taking Fiona into the gym and it was his responsibility to look after her especially as she should not have been there in the first place. The reasonableness test takes into account whether a defendant acted in a reasonable way in the circumstance and also takes into account any different behavior by the defendant or the claimant, the size of the risk and whether injury could have been prevented. Special qualifications held by the defendant are also taken into account (Jane Goody 2008)In the case of Luke and Fiona it could be said that the gym instructor was being unreasonable in not asking Fiona for any identification. In other aspects the instructor could have acted in a reason able way because Fiona fell over and no equipment was involved however the situation would change if Fiona slipped on a wet floor or fell over equipment because it should have been checked and deemed safe by the instructor. The evidence shows that a case of negligence could be successful in many factors but the law of occupiers liability may lead to an unsuccessful claim .The gym instructor broke his duty of care to Fiona by not asking for identification . Occupiers liability shows that although Fiona was trespassing she had a right to safety, however an award may be reduced or lost because Luke was being negligent in taking Fiona to the gym. 566) .Bibliography 1 2) Woolf, May (2006), study topic 3: Minimising the health risks of physical activity in E112 Introduction to Sport, Fitness and Management study guide, Milton Keynes, The Open University. 3) The Open University (2008) E112 Introduction to Sport, Fitness and Management DVD, Milton Keynes, The Open University. ) Vasan et al (2001) ‘Hypertension and Stroke’ in Fitness and Health (6th edn) Sharky and Gaskill (2007), Leeds, Human Kinetics. 5) Netfit (2009) ‘Resting Heart Rate’ (online). Available from: Http://netfit. co. uk/fitness/test/resting-heart-rate. htm (accessed 17th January 2010). 6) The Open University (2008) E112 Introduction to Sport, Fitness and Management DVD, Milton Keynes, The Open University. 7) Sharky, B. J. and Gaskill, S. E. (2007) Fitness and Health (6th edn), Leeds, Human Kinetics. 8) Family Education (2009) ‘Fat Percentage Chart’ (online), Available from: Http://life. familyeducation. com/weight/body-image/46748. tml (Accessed 17th January 2010). 9) Sharky, B. J. and Gaskill, S. E. (2007) Fitness and Health (6th edn), Leeds, Human Kinetics. 10) Hendrix and Hughes (1997) ‘Activity Minimises Stress’ in Sharky and Gaskill (2007) Fitness and Health (6th edn), Leeds, Human Kinetics. 11) Heany and Goody (2008) ‘Physical Activity and Health and Safety’ in E112 Introduction to Sport, Fitness and Management Study Guide, Milton Keynes, The Open University. 12) Goody,M. (2008) Negligence: ‘Legal Frameworks of Health and Safety’ in Oakley, B. and Rhys, M. (eds) The Sport and Fitness Sector: An Introduction, London, Routledge/Milton Keynes, The Open University. How to cite Pre Activity Health Screening and Customer Care, Papers

Evaluation Of A Business Plan

Question: Discuss abouth the Evaluation of a Business Plan. Answer: Introduction Company Background In the year of 1974, the company JB Hi-Fi was established BY Mr. Jhon Burbuto. At that time the company only operated a single store in East Keilor (Jbhifi 2016). During the years between 1983and 1999, the company had opened 9 more stores in Australia (Jbhifi 2016). The company has offred different types of products such as home appliances, consumer electronics and air- conditioning. The company also sells all the renowned brand of T.V., Cameras, Computers, Speakers, Home theater and Portable Audio system and many more (Jbhifi 2016). The company also offers different types DVD music, recorded music and games at cheap price compare to the market. Mission and Vision Main business philosophy of the company is very simple. Mission of this company is to offer a specialist range of Hi-Fi and recorded music at lowest price to Australian customers (Jbhifi 2016). Maintaining this philosophy, the company has become one of the largest and fastest growing retailers of home appliances in Australia. The vision of the company is to become the largest retailer company is the country within next two years. Three Sources of Business Plan There major source of business plans are such as management, financial and marketing. They are discussed below: Management The company JB Hi-Fi has announced a major management restructure. Presently the company is trying to expand its focus on online marketing. CEO of the company named Richard Murray has announced that the day-by-day management team of the company will be strengthened. As the part of its expansion program, the company will increase its focus on digital and online marketing operations. For this purpose, James Saretta is appointed to take the role of Digital and strategy Director (Jbhifi 2016). He will be responsible for expansion and development of the organizations online business operation. Due to enhance customer experience in JB Hi-Fi website online sales of the company was increased by 28% (Jbhifi 2016). For this reason JB Hi-Fi website is recognized as one of the biggest appliance and consumer electronic in Australia. There are various other changes have been found in the management team. For example, Cameron Trainor (presently assigned as Merchandise Director) will take the responsibility of the marketing department along with his present role (Jbhifi 2016). In addition, Gary Siewart has been appointed as general manager of marketing who will report to Cameron Trainor. However, the previous role of marketing director of the company has been eliminated. In addition, Belinda Minieri will be appointed as a part of the senior management, who will take on the role of general manager of online and solutions operation. Financial Till 30th June 2016, the company has more than 194 stores in Australia and New Zealand. In future, the company has the opportunity to increase its business in these two countries. The company JB Hi-Fi is achieve to sales of $3.90 billion in the year of 2016 (). The total sales growth of the company is 8.3%. The net profit of the company after tax is approximately 11.5%. Gross profit of the company is increased by 8.4% (Jbhifi 2016). It has been found that the total operating cost of the company remained well controlled throughout these years. In future, the company will try to remain focused on minimizing indirect expenditure and increase productivity. Due to low financial and operating leverage, the balance sheet of the company continues to grow. The company is considered as a discount retailer, which has the ability to offer low price products through the scale of its business operation. The company offers the largest category of consumer electronics, home entertainment at discounted price. It helps the company to position itself in the mind of all customers. Marketing Gollenia (2016) stated that, good retailers always try to focus on low costs, right products and appropriate pricing. Company JB Hi-Fi is considered as one of the great retailers. Even if the company has grown to $2 billion organization, the management has not shifted its focus from that of the value player in the electronic retail market of Australia. The company is competing with big names such as Good Guys and Harvey Norman. The company is considered as a low price alternative, which has provided competitive advantage. According to the CEO of JB Hi-Fi, the company has deliberately positioned itself as low end branding and shop fittings. Human et al. (2015) stated that this strategy is highly effective during the downturn of market. Branding of the company can be hardly considered as slick. The company mainly uses slightly tacky and loud print advertising. However, the television advertising is minimally used by the company. However, the store fitting of the company has a second-hand feeling. They use lots of hand-drawn price tags and signage. It provides customers the opportunity of bargaining. Ripsas et al. (2015) stated that branding of the company is consistent for store and it has a consistent product range. The company uses Uechtritzs business model for this purpose. Market Analysis: Market Segmentation: JB Hi Fi has successfully divided the market in three distinct segment which are described below: Family Homeowners: This particular segment owns middle-end to high-end homes along with other electronic equipments. Half of the families have two incomes and more than half families earn around $78000. More than half families have cable TV and broadband internet connection. Single Homeowners: This particular segment owns their personal home only for them. They are mostly inclined towards using electronic technology. The median income has been assumed around $65000. Three quarter of the segment owns cable TV and broadband Internet Connection. Commercial Sales: This segment mostly contains SMEs and mid-size businesses. This particular segment is focused on purchasing expensive electronics equipment for various purpose regardless of their industry. Target Market Segment Strategy: JB Hi Fi mostly focuses on these market segments as they are most attracted towards new models and technological entertainment electronic devices. While majority of the homeowners have cable TV, many other families would be inclined to purchase new models of TV. Moreover, the professional single homeowners would be attracted towards innovative electronic devices for entertainment (Corbett et al. 2014). In addition to that, the small and mid-size business organization would require a large amount of electronic products. In order to attract these customers JB Hi FI would focus on minimizing their cost so that they can offer limited price for their product. In addition, promotional activities with latest technology will also help to reach maximum numbers of customers. Products JB Hi-Fi mostly operates its business in the sector of Home Entertainment Electronics Equipment. The product range contains various entertainment equipments such as large home appliances, hardware/electronics, video games, Blu-ray discs, DVDs as well as CDs. In addition to that, the organization also focuses on providing the business related products such as computing equipment, audio visual, BYOD Programs as well as corporate gift cards. Industry Analysis: The external market factors JB Hi-Fi is analyzed with the help of PESTLE model. PESTLE analysis P Political The legislative amendments due to the global requirements in Australia have immensely affected the business decision of company (Jones et al. 2013). The trade faces greater challenges due to the international trade laws and political instability. E Economic The high inflation rate immensely affects the online trading The high rate of Dollar highly affects the monetary transactions European economic crisis has also affected the internal market S Social The customers are inclined towards entertainment related electronics equipment They often focuses on the perceived quality and service availability T Technological The emerging social media technology has enabled the organization to undertake new marketing strategy (Kunz and Dow 2013) The online marketing and gaming market has been immensely improved by the advanced internet accessibility L Legal International trade law is a major factor for the business operation In addition to that taxation is a crucial element of business expansion E Environmental The company has to focus on several major areas regarding environmental preservation and recovery. These areas are Waste disposal Disposal of worn-outs Bulk packaging Noise reduction Strategy and Implementation Summary Competitive Edge The competitive position of JB Hi-Fi is analyzed with the help of Porters 5 Forces model. Porters 5 Forces Analysis Figure 1: Porters Five Forces Analysis (Source: Blank 2013) Marketing Strategy JB Hi-Fi would be focused on attracting the customers by offering a large range of products in a limited price. In order to bind the price in a certain level the company will emphasize on cost reducing techniques so that the products can be manufactured with limited expenses (Ghezzi et al. 2015). However, the company will also concentrate on the factors, where the quality of the products is not compromised. In this context, the organization will not reduce the cost of the quality control and materials. This way the organization would be able to ensure the quality of the products. JB Hi-Fi will also be focused on investing in proactive and aggressive advertising approach. It will undertake numbers of promotional activities in order to attract a maximum number of customers. The most effective promotional activities are discussed below: Inserts in Bills: The organization will construct the bills in such a fashion that the promotional messages will be conveyed to the customers. It will effectively increase a significant number of repeat businesses. It is most inexpensive, albeit powerful way to reach the customers. Website: In the contemporary technologically advanced era, any advertising campaign is not complete without online activities. The website campaign and advertisement is highly effective for reaching majority of the target audience in Australia, as most of the citizens actively use internet. In addition to that, the website also offers an effective platform for the customers to purchase the companys products in an easy and convenient way. Moreover, the social media sites are also quite useful platform for reaching the customers in a limited effort. Direct Mail: JB Hi-Fi will also use direct mail as a means of business communication. The customer database will be most effective for conveying necessary updates on the companys activities and product renovation. The company will be able to inform the messages regarding the new information regarding the organization. Sales Strategy The organization would be focused on implementing push sales for increasing the sales figure in a significant manner. The supportive shopping experience provision would be also helpful to encourage the customers to purchase from JB Hi-Fi stores. The regular greetings would be most effective for enhancing brand recognition and repeat sales. Financial Plan Projected profit and loss statement for the 1st year Pro Forma Profit and Loss Statement for JB Hi-Fi Amount (in $) (Debit) Amount (in $) (Credit) Revenue 27700 Closing stock 1700 Purchase of materials 7400 Carriage inward 900 Gross Profit 21100 Salaries to the staffs 11700 Maintenance expenses 910 Rent and rates 3000 Cost of building the internal structure 1400 Electricity charges 610 Other expenses 1000 Net Profit 2480 Projected Balance sheet statement for the 1st year Pro Forma Balance Sheet for JB Hi-Fi Amount (in $) Amount (in $) Assets: Fixed assets: Furniture 4700 Machineries 1400 Total fixed assets 6100 Current assets: Debtors 6100 Cash in hand 1700 Closing stock 1700 Total current assets 9500 Total assets 15600 Liabilities: Long term liabilities: Long term bank loan 4000 Current liabilities: Creditors 3700 Bank overdraft 1000 Total liabilities 8700 Owner's capital: Capital 6000 Reserve 900 Total Owner's capital 6900 Projected Cash flow statement for the 1st year Pro Forma Cash Flow Statement for JB Hi-Fi Amount (in $) Amount (in $) Profit from the operations 2480 Cash flow from operating activities: Add: Increase in current liabilities 570 Less: Increase in current assets 360 Total cash from operating activities 2690 Cash flow from investing activities: Purchase of new furniture -1000 Sale of old furniture 300 Total cash from investing activities -700 Cash flow from financing activities: Bank loan taken 4000 Capital provided by the owner 1000 Total cash from financing activities 5000 Net cash inflow 6990 Projected profit and loss statement for the 2nd year Pro Forma Profit and Loss Statement for JB Hi-Fi Amount (in $) (Debit) Amount (in $) (Credit) Revenue 31070 Closing stock 1870 Purchase of materials 8100 Carraige inward 1100 Gross Profit 23740 Salaries to the staffs 11700 Maintenance expenses 1010 Rent and rates 3000 Cost of building the internal structure 700 Electricity charges 900 Other expenses 1400 Net Profit 5030 Projected Balance sheet statement for the 2nd year Pro Forma Balance Sheet for JB Hi-Fi Amount (in $) Amount (in $) Assets: Fixed assets: Furniture 4900 Machineries 1400 Total fixed assets 6300 Current assets: Debtors 7400 Cash in hand 1600 Closing stock 1870 Total current assets 10870 Total assets 17170 Liabilities: Long term liabilities: Long term bank loan 4000 Current liabilities: Creditors 5070 Bank overdraft 1100 Total liabilities 10170 Owner's capital: Capital 6000 Reserve 1000 Total Owner's capital 7000 Projected Cash flow statement for the 2nd year Pro Forma Cash Flow Statement for JB Hi-Fi Amount (in $) Amount (in $) Profit from the operations 5030 Cash flow from operating activities: Add: Increase in current liabilities 1470 Less: Increase in current assets -1370 Total cash from operating activities 7870 Cash flow from investing activities: Purchase of new furniture -1400 Sale of old furniture 360 Total cash from investing activities -1040 Cash flow from financing activities: Bank loan taken 4000 Capital provided by the owner 500 Total cash from financing activities 4500 Net cash inflow 11330 Conclusion and Recommendation In Conclusion, it can be mentioned that JB Hi-Fi is already an established home appliance retailer of Australia. The main motto of the company is to offer consumer electronics and home appliances at cheaper price. In the year of 2003, the company had entered into the Australian Stock Exchange. Presently, the company is worth $2 million. However, the company still has limited presence in Australia and New Zealand. For this reason, the company will try more to expand its business in these two countries. The company also will try to improve its online business strategy. In order to help the company to improve its business plan, there are some recommendations given to the organization. They are mentioned below: Recommendations The company has to improve its website and make it more user-friendly, so that customers can easily purchase their goods from the company websites. The company has to improve its supply chain in order to distribute all the products equally at every corner of the country. 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