Exam 2 1. How a clearly defined vision helps a business A. Vision produces direction â€“ companies who spell out the vision for their company focus everyoneâ€™s attention on the future and detail the path a business will take B. Vision determines decision C. Vision motivates people- a clear vision excites and ignites people to action D. Vision allows for perseverance in the face of adversity. 2. Define strength, weakness, opportunity, and threats a.Strength- are positive internal factors that inhabit a companyâ€™s ability to accomplish its missions goals and objects b. Weakness- are negative internal factors that inhibit a companyâ€™s ability to accomplish its missions goals and objectives c. Opportunityâ€™s- positive external forces that a firm can exploit to accomplish its missions goals and objectives. d. Threats- are negative external factors that inhibit a companyâ€™s ability to achieve its goals and objectives. 3. Three types of competition Direct, Significant competitors, and indirect competitors.Direct Competitors â€“ offer the same products and services Customers often compare prices Deals among these competitors when they shop. Significant Competitors â€“ offer some of the same services or similar products or services Product or service lines overlap but not completely. Indirect â€“ offers same or similar products only in as small number of areas. 4. Three types of strategies- a. Cost leadership- Strives to be the low cost provider relative to its competition in the industry b.Differentiation- A Company seeks to build customer loyalty by positioning its goods or services in a unique or different way. c. Focus (niche) â€“ a strategy in which a company selects one or more market segments, identityâ€™s customer special needs wants & interests & offers them with excellent service designed to meet their needs. 5. Define complete advantage- the aggregation of factors that sets a small business apart from its comptetiors and gives it a unique position in the market segments to its competition. 6. Purpose of easibility analysis- a process to determine whether or not an idea can be transformed into a valid business. 7. Elements in 5 forces model- * Rivalry among competitors in the market(strongest force) Barraging power of suppliers to the industry, bargaining power of buyers, threat of new entrants to the industry, threats of substitute products or services. 8. Definition of business prototyping- a process in which entrepreneurs test their business models on a small scale before committing serious resources to launch a business that might not work. . Three aspects considered in financial feasibility analysis- * Primary research- information that the entrepreneur collects first hand and analyses * Secondary research- information that has already been compiled and is analyzed for use often at a very reasonable cost or sometimes even free. * Focus groups- a market research technique that involves enlisting a small number of potential customers (usually 8-120) to give an entrepurerure fed back on specific issues about a potential product or service.Or special idea itâ€™s self. 10. Two functions of a business plan- * Guides an entrepreneur by charting the companyâ€™s future course of action and devising a strategy for success. * Provides a battery of tools â€“ Mission statements, goals, objectives, market analyses, budgets, financial forecasts, target markets, strategyâ€™s to help entrepreneur lead the company. 11. Most common form of business ownership- Sole proprietorship. 12. Advantages/Disadvantages of sole proprietorship Advantages Simple to create, least costly to being, profit incentive, total decision making authority, No special legal restrictions, easy to discontinue Disadvantages * Unlimited personal responsibility, limited skills & capabilities, feelings of isolation, limited access to capital, lack of continuity in business. 13. Types of Corporations â€“ * Domestic- a corporation that does business in the state it was founded in. * Foreign â€“ a company doing business in a state other that where it was founded. Alien â€“ a corporation found in another country but doing business in the U. S * Closely held â€“ a corporation whose shares are controlled by a relatively small number of people Family elatives friends Employees. * Publicly Held â€“ A corporation who has a large number of stock holders usually traded on the stock exchange. 14. Advantagesdisadvantages of corporations- Advantages â€“ Limited liability of stock holders, ablitlty to attract capital , ability to continue indefinitely, Transferable ownership.Disadvantages â€“ Cost and time involved in the incorporation process, double tax, and potential for diminished managerial incentive, legal requirements and regulatory red tape, potential loss of control by founders. 15. Types of partnerships â€“ General Partnership â€“ Partners who share in owning a business and who have unlimited personal liability for partners dept. Limited Partnership â€“ Partners, who make financial investments and partnership, do not take on an active role in managing a business, and whose liability is limited to amount invested. 16.Define Franchising â€“ A system of distribution in which semi-independent business owners pay fees and royalties to a parent company in return for the right to become identified with its trademark, to sell its products or services and often to use its business format and system. 17. Benefits of Franchise â€“ A business system that is proven , manager training and support, brand name appeal, standardized quality of gods and services, national advertising program, financial assistance, proven produces and business formats, combined buying power site selection and territory protecting, greater chance of success. 8. Three types of franchise * Trade name â€“ involves a brand name without distributing particular products exclusively under the franchiser name * Product Distribution â€“ Involves a franchises licensing a franchisee to sell specific products under the franchisors brand name and trademark though a selective limited distribution network. * Pure â€“ involves providing the franchisee with a complete business format. 19.Definition of piggy back franchise- a method of franchising in which two or more franchises team up to sell complimentary products or services under one roof. 20. Multiple unit Franchising â€“ a method in which a franchiser opens more than one unit in a broad territory with in a specific time period. 21. Franchise Disclosure Document (FDD) â€“ a document that every franchisor is required by law to give potential franchisees before any offer or sale of a franchise outlines 23 important pieces of information. 2. Advantages /Disadvantages of buying an existing business â€“ * Advantages â€“ a successful business may continue to be successful a successful business may already have the best location employees and suppliers are already established, equipment is already installed and productive capacity is known inventory is in place and tide credit is established new business owners hit the ground running. Disadvantages â€“ Itâ€™s a looser the previous owner may have created ill will Employees inherited with the business may not be sustainable the locating is unstable equipment and facilityâ€™s may be obsolete change and innovation may be hard to implement inventory may be out of date or obsolete account receivables may be less that face value business may be overpriced. 23. Steps to acquiring a business the right way. a. Analyst your skills and abilityâ€™s b. Prepare a list of potential candidates c. Investigate and evaluate candidate business to find the best one d. Explore financing options . Ensure smooth transition by communication with employs. 24. Acquiring procedures â€“ * Identify and approach candidate * Sign the nondisclosure statement * Sign letter of intent * Buyers due diligence investigation * Draft the purchase agreement * Close the final deal * Begin the transition 25. 5 Ps of negotiation * Preparation â€“ examine the needs of both parties * Poise â€“ Remain calm during the negotiation. * Patience â€“ donâ€™t be in such a hurry * Persuasiveness- know what most important positions are articulate them. * Persistence â€“ donâ€™t give in a first sign of resistance to your position.
Wk6 (22) - Essay Example
These techniques are used to help them in their daily lives. Emphasis is placed on self-control and the client being able to "initiate, conduct and evaluate their own therapy" (Corey, p. 233).
The role of the counselor in behavior therapy is to help the client develop goals and to help them find more choices and new conditions for learning as they move through the therapeutic process. The counselor will initially interview the client to find the specific behaviors to address. Behavior therapist also are "active and directive" and they are problem solvers.
The individual who is most prominently known as the one who began behavior therapy is B.F. Skinner, however, the history of this type of therapy goes back to 1950s and was equally introduced in the United States, South Africa and Great Britain at the same time.
According to the textbook, there are many studies that use behavioral techniques to assist in many mental disorders. Some critics think that this therapy does not go far enough in helping clients because it does not provide insights for the client and it ignores the relationship between the client and the therapist. Behaviorists also put emphasis on ethical accountability.
In contrast rational emotive behavior therapy (REBT) expands upon what the behavior therapists does by bringing in a cognitive component. The basic premise of this therapy is that an individual is very capable of healing themselves because they are naturally inclined to do "self-talking, self-evaluating and self-sustaining" (Corey, p. 273). This theory grew out of work by Albert Ellis.
REBT sees that humans have the capacity to think rationally and irrationally at the same time. They can be loving, happy and have strong relationships or they can be self-destructive, procrastinate and repeat the same problems over and over.
Individuals learn irrational beliefs through significant people around them, and they create
Railway ticketing lines Essay
This proposal will outline a comprehensive proposal for setting up railway ticket selling and information center for Paddington Railway Station. This will be achieved through outlining the operational as well as management aspects of the project. Operational Issues Waiting is often considered as frustrating and a boring job which most of the passengers have to bear while waiting for their turn to receive tickets for their journey.
For a learning organization, it is therefore necessary that a system of procedures shall be implemented which helped it achieve the operational excellence by carefully managing different timings i.
e. peak times, low times etc during ticket selling procedure. Since it is often believed that services are experienced and goods are consumed therefore from a operational point of view management of waiting lines carries great significance in order to achieve necessary efficiency as well as productivity. (Maister,1985). We propose to manage waiting lines during following times: Peak Hours We propose to set up different counters i. e. increase number of counters to manage peak hours. This will allow us to reduce time spent on delivering each ticket or providing information. Queuing theory will be used to manage peak hours also.
(Young, 1996). In order to avoid the usual problems happening at this time, we also intend to upgrade our database and system in order to analyze the travelling patterns of passengers coming at this time. This would allow us to prepare in advance to gather resources which best suit that time and type of customers. Interpeak Hours Waiting lines during this period will be managed by increasing the coordination between the counters and the passengers. This will be achieved by employing extra professionals who will guide our customers to right counters and will provide them right guidance to reach the correct counter to receive their tickets.
Off Peak Hours Since off peak hours do not produce the similar amount of passenger rush therefore normalized operations with focus on delivering accurate service will be performed. It is also important that this will be the time which also be utilized for marketing purposes. References 1. David Maister. (1985). the Psychology of Waiting Lines. Available: http://davidmaister. com/articles/5/52/. Last accessed 8 November 2008. 2. Scott T. Young, (1996). Managing Global Operations: Cultural and Technical Success Factors. New York: Greenwood Publishing Group. 209.
Climatologists, who predict short and long-term climate trends, believe carbon dioxide and other emissions, mainly from industrial and commercial activity over the last two centuries, have altered the Earthâ€™s atmosphere. This change has caused a â€œgreenhouse effectâ€ which is rapidly warming the planet.
The predicted effects of global warming include the melting of polar ice caps; a significant rise in sea levels; more extreme weather events; a reduction in agricultural land; water shortages; food shortages; loss of rain forests; and more species becoming extinct.
Scientists believe all nations must take immediate and urgent action to dramatically reduce carbon emissions. Technological solutions have been proposed, ranging from â€œcarbon scrubbersâ€ that remove carbon from the atmosphere and reduce greenhouse gases to placing giant mirrors in space to reflect enough sunlight to cool down the planet.
Although an overwhelming majority of scientists accept the man-made global warming theory, a minority have questioned this consensus. They suggest that manâ€™s impact on the climate is negligible and that global warming is wholly the result of natural cycles.
David Kennedy, nd. Basic Causes of Global Warming Retrieved February 27, 2013 from http://www.ehow.com/about_5057613_basic-causes-global-warming.html Basic Causes of Global Warming
When sunlight hits the Earth some is absorbed but most is reflected. The greenhouse effect is when sunlight escaping back into space is absorbed by gases in the atmosphere and then reflected back onto the Earthâ€™s surface. Most greenhouse gas is water vapor, but other gases that contribute to it include carbon dioxide, methane, ozone, and other gases that have a less significant impact.
According to the U.S. Emissions Inventory 2004 Executive Summary, in 2002 around 40 percent of carbon dioxide emissions were the result of burning coal for electricity. Around 93 percent of the electric utility industry burns coal. Carbon dioxide emissions also come from cars and other vehicles, airplanes and buildings. New technologies, like the hydrogen fuel cell vehicle and hybrid electric vehicles, are some solutions for minimizing vehicle carbon dioxide emissions.
Methane is the second largest contributor to the greenhouse effect. Methane is a natural byproduct of living organisms and is produced by plants and bovine flatulence. Bacteria decomposing organic material also produce methane. According to the U.S. Emissions Inventory 2004 Executive Summary, methane levels have increased by 145 percent in the last 100 years. In the United States, all rice fields are grown in flooded areas which produce methane gases.
Deforestation is the process of clearing forests, either rainforest or temperate forests. The burning of forests is responsible for up to 25 percent of carbon dioxide emissions. This is the result of clearing and cutting nearly 34 million acres a year. Forests are also important because they convert carbon dioxide into oxygen. So while carbon dioxide emissions increase, the lack of forests is making the number increase faster.
Permafrost is a layer of land and soil that has been frozen and kept at freezing temperatures or below. In many northern climates like Alaska, Canada and Siberia, the permafrost layer of soil holds vast amounts of carbon. What researchers and scientists fear is that the permafrost will warm up and microbes will decompose the soil and release carbon dioxide. Permafrost has absorbed carbon dioxide for thousands of years, but may release it back if thawed.
Timothy Sexton,.nd. Global Warming Cause & Effects retrieved February 27, 2013 from http://www.ehow.com/about_4744736_global-warming-cause-effects.html Global Warming Cause & Effects
The overriding cause of global warming is an umbrella term known as the â€œgreenhouse effect.â€ As the rays of the sun reach Earth, some of the heat is absorbed and some is radiated back into the atmosphere. Greenhouse gases in the atmosphere act similarly to a gigantic mirror and reflect warmth back to Earth that in the past would have continued being radiated into space. It is this reflection of heat back to Earth that is at the heart of the greenhouse effect.
These greenhouse gases that are responsible for reflecting back heat that would otherwise be lost include simple water vapor, carbon dioxide, methane and the infamous ozone. Unfortunately, there is no way to know exactly which greenhouse gas is most responsible for the greenhouse effect.
Cause of Increased Gases
The problem of global warming has been caused by the addition of more greenhouse gas into the atmosphere. The gases responsible will rise into the air whether humans are here or not; the problem is that much of basic human activity in the 20th and 21st century produced greenhouse gas at a level never experienced before. Basically, any activity that produces one of the gases listed above is a cause of global warming; everything from driving a car to using electricity. Because trees act as a natural conversion plant to transform carbon dioxide into oxygen, deforestation contributes to global warming because the fewer trees there are, the more carbon dioxide gets into the atmosphere.
The effects of global warming are potentially far-ranging. Increased temperatures means melting of glaciers, ice and snow around the poles, which means an increase in sea levels. Warming water will also increase the potential for hurricanes and typhoons so devastating that they will make Hurricane Katrina pale in comparison. That rise in sea levels could also mean that beachfront property will soon be found 10 to 50 miles inland from where beaches are now.
The average temperature on Earth has been steadily rising since the mid-1980s, and global warming is expected to continue this trend. In addition to longer and hotter summers, rising temperatures will affect agriculture. Indeed, the effect of a hotter Earth is already increasing the transmission of infectious bacteria that thrive under warm conditions.
There are still a great many people who believe that global warming is simply some kind of politically-created hoax. Those leading the charge against global warming tend to be industry with a vested interest. On the other hand, the list of scientific entities that have agreed on the reality of global warming include, among many others, the National Oceanic and Atmospheric Administration, the Environmental Protection Agency and the Royal Society of the UK.
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