Parenting Teenage Boys and Education

Keeping your cool and staying firm without letting your guard down.Do we all know how to keep our cool at the moment of a disappointment with our teenage boy? Parenting Teenage boys can be a hell of a rollercoaster ride what matters most is the foundation you lay out for them when they are young. Being a role model speaks volume. Communication is the key element to connect with your teen. Parenting is a challenging task, but with the proper guidance and understanding parents can raise their son's to be their best and to succeed. â€Å"Therefore parents who refrain from corporal punishment seem to have a more positive outcome and are more successful in being able to get their Teen to focus on their education and every aspect of their life.† Development: Making your teen aware of the changes in his body, the knowledge on sex, alcohol, drugs and weapons. Connecting: Learning how to communicate with your teen and their emotions.Educational attitude: Schooling them on the importance of education and the impact it has on their lives. Boundaries: Teaching them about consequences. Identifying core values: Knowing what makes them valuable and making them aware of it. It requires us as adults to be good role models and be the best example for them in all aspects of their life from beginning to end. This includes when they begin their development as adolescents and begin the early stages of puberty and start having a desire for sex, and talking to them about alcohol and the danger of drugs and weapons. Connecting with your Teen allows you to be able to communicate and connect with what they are feeling. Also it is very important that we understand the attitude that they have about Education and help them understand the impact it can have in their lives. Also putting boundaries to show them that crossing that line has consequences. Also being able to identify their core values will help the process. As a parent sometimes you have to walk the talk. Unfortunately some parents use corporal punishment while others completely abstain from such due to their beliefs and morality of the situation. As for me and in my opinion and experience I find that corporal punishment does not work for me due to my upbringing in which I never agreed. I feel that violence does not resolve anything and will only result in negative behavior coming from your Teen. This includes them rebelling towards you in many ways, not sleeping well, not eating well, not focusing in school and affecting their surroundings in general.

Organizational studies Essay

Prof. Andras Tilcsik, Rotman School of Management andras. tilcsik@rotman. utoronto. ca (preferred contact method) https://portal. utoronto. ca/ 416-946-0610 (email preferred) 95 St. George St. , Room 7018; Thursdays 2:30-3:30pm & by appointment TBA Course Scope and Mission Organizations are all around us in society: we study in them, work for them, rely on them for goods and services, and we are regulated and influenced by them. Understanding organizations, therefore, is key to becoming more effective actors in the organizations that we are, or will be, part of. Organization theory is the scientific study of how organizations function as collective social systems in their particular environment. Applied to business, organization theory primarily focuses on how different organizational design choices facilitate or hinder the achievement of organizational goals (e. g. , profit, survival, growth) in competitive marketplaces. In this course, we will explore organization theory with an emphasis on understanding organizations as systems, and on the practical applications of these theories for organization management. The primary focus of our course materials, analysis, and discussion will be on organizations (not the people who comprise it). Thus, this course—like organization theory more generally—offers a unique perspective for those interested in business and management. By the end of the course, you will achieve the following to become a more effective organizational actor: ? Familiarity with key elements of organizational structure, design, processes, and context 1 of 10 ? ? Skills in organizational analysis and the diagnosis of strengths and  weaknesses Ability to apply organizational theory to real world organizations Course Prerequisites RSM260H1/ MGT262H1 Course Exclusions RSM360H1/ MGT363H1 Required Readings ? ? Daft, R. L & Armstrong, A. (2012). Organization Theory and Design (2nd Canadian edition). Toronto: Nelson. (ISBN-10: 0176503684 / ISBN-13: 9780176503680) Supplemental material will be occasionally handed out in class, or posted on Blackboard. Evaluation and Grades Grades are a measure of the performance of a student in individual courses. Each student shall be judged on the basis of how well he or she has command of the course materials. Work Class Participation & Attendance Individual Short Paper Team Project Proposal Presentation Report Closed-book short quizzes Open-book final exam Bonus credit 10% 15% 0%* 5% 30% 10% 30% (up to 3%) Due Date Ongoing January 28, 2013 February 11, 2013 Variable March 18, 2013 Variable FAS final period (March 25, 2013) * Final project reports from groups that fail to submit the proposal on time will NOT be graded. 1. Class Participation & Attendance (10%) In each class, I might randomly call five to six students to present their work or ideas or to lead class discussion at any time. It is likely that I will open the class by asking someone to summarize the readings or cases briefly, or answer a short question. Please be prepared to participate in class by ensuring that you have read the assigned material before class. I also strongly recommend taking detailed in-class notes and reviewing them after class, while the material is fresh in your mind. I expect you to attend every class on time, and stay for the entire session. If you have an unavoidable conflict, which makes it impossible for you to attend a particular session, please notify me at least 24 hours in advance. 2 of 10 2. Individual Short Paper on Management Fads (15%) This assignment asks you to gather some information on a current and a past trend or fad in management and consider the causes and effects of these fads. This assignment is explained in more detail in Chapter 5 of the textbook (p. 195, â€Å"Chapter 5 Workbook: Management Fads†). Make sure that your address all three questions in the assignment. Your report should read like a coherent (short) essay, rather than just a set of disconnected answers to different questions. If it is helpful for your analysis, you might consider how the institutional perspective on organizations (pp. 188-193) helps explain your findings. The paper should be approximately 800 words, typed double-spaced. Write clearly and concisely and indicate all your sources. If you are not sure where to start looking for information, or how you might think about these questions, please see me well in advance of the due date. 3. Team Project (35%) In teams of 5 to 6, you will analyze a case—or a set of cases—by applying appropriate theories to generate insights about organizational theory, design, and change. The project also requires you to be creative in how you present the insights. More information about the final case project will be posted on Blackboard and provided in class on January 28, 2013. 4. Closed-book Short Quizzes (10%) To enhance your overall learning effectiveness, I will give 4 short pop quizzes through the semester. Your best 3 quiz scores will count towards your grade. Further details will be announced in class. 5. Open-book Final Exam (30%) The final exam will be an open-book written examination, in which non-electronic aids are permitted. The final will cover all readings and course content (e. g. , lectures, class discussions). 6. Bonus Credit (up to 3%) Organizational scholars sometimes run experimental studies to test new hypotheses. You can earn extra credits up to 3% by participating in research studies conducted through the Rotman Participant pool between January 7, 2012, and March 25, 2013. These credits will count towards your cumulative course grade, and your participation in a study will help contribute to cutting-edge research on organizational behavior, marketing, or other business issues. You will receive 1% extra credit for each hour of research in which you participate. To participate in a research study, sign up for an account online at http://rotman-credit. sona-systems. com. When you request an account, make sure you fill out all of the information accurately, including selecting the correct course and section, to ensure that you receive credit. Once you have an account, you may read over the descriptions of research studies that are posted online. When you identify a study in which you would like to participate, you may view available timeslots for that study and sign-up online to participate. Participation in the actual research study will take between 45 and 60 minutes. You will be debriefed at the end of the study, and you will be asked to answer a question about some aspect of the study. Once you correctly answer the question, you will be given credit for completing one study. COURSE FORMAT AND EXPECTATIONS For Written Assignments: Please note that clear, concise, and correct writing will be considered in the evaluation of all your written work for this course (i. e. , individual short paper, team project report, and final written exam). That is, you may lose points for writing that impedes communication: poor 3 of 10 organization, weak paragraph development, excessive wordiness, hard-to-follow sentence structure, spelling mistakes and grammatical errors. Students who require additional support and/or tutoring with respect to their writing skills are encouraged to visit the Academic Success Centre (www. asc. utoronto. ca) or one of the College Writing Centres (www. writing. utoronto. ca/writing-centres). These centres are teaching facilities – not editing services, where trained staff can assist students in developing their academic writing skills. For Class Participation: It is my hope that our class can serve as a riskless environment in which we all feel comfortable testing new ideas and pushing the boundaries of our thinking. This may be a different experience than you have had in previous classes, but exploring your ideas out loud by participating in the discussion will serve you well in other classes and in your future careers. I know that some of you may be shy or uncomfortable speaking publicly and/or English is not your first language. If you are particularly worried about your in-class contributions, please check in within the first two weeks of the semester, and I can work with you in creative ways to help your contributions. There is, however, no alternative to participating in class discussions. But if you do fall into this category, please come see me early in the term, and we will work together to come up with ways to facilitate your participation. There is no charge for the instruction and support. For Group Work: The final project requires students to work in teams of 5 to 6. Learning to work together in teams is an important aspect of your education and preparation for your future careers. That said, project-based teamwork is often new to students and you are therefore reminded of the following expectations with respect to behaviour and contributions to your team project. 1. Read the document entitled, â€Å"Working in Teams: Guidelines for Rotman Commerce Students† which is available on the RC portal under the Academic Services tab. 2. When working in a team, Rotman Commerce students are expected to: †¢ †¢ †¢ †¢ †¢ Treat other members with courtesy and respect; Honour the ground rules established by the team; Contribute substantially and proportionally to the final project; Ensure enough familiarity with the entire contents of the group project/assignment so as to be able to sign off on it as original work; Meet the project timeline as established by the team. 3. Resolving differences: Conflicts can – and do – occur. Conflicts are part of the team’s process of learning how to work together effectively and can actually generate exciting debate and creative solutions – if managed appropriately. Student teams are collectively expected to resolve disputes or misunderstandings as soon as they arise (and prior to submission of the final project). In cases where teams are unable to reach a mutually agreeable solution, the entire team must meet with the Rotman Commerce Team Coach** as soon as possible. The Coach will listen to the team and help develop options for improving the team process. All members of the project team must commit to, and, utilize their action plans. ** The Rotman Commerce Team Coach, Nikoleta Vlamis, may be reached 4 of 10 at nikoleta@nikoletaandassociates. com for an appointment. Nikoleta is an expert in team dynamics and facilitation. Note that Nikoleta’s role is to provide guidance, support and advice on team matters – not to formally evaluate or assess teamwork for academic purposes. 5 of 10 WEEKLY SCHEDULE (subject to change) Session 1 Date Jan 7 Topic and cases Introduction: Organization Theory & Design Textbook readings Chapter 1 2 Jan 14 Organization Design & Strategy Chapter 2 3 Jan 21 Organizational Structure Short Case: Aquarius Advertising (pp. 124-127) External Environment & Inter-Organizational Relationships Final case project announced Organization Design in an International Environment Short Case: Ivanhoe Mines (pp. 236-238) Halfway Point: Taking Stock and Looking Ahead Case: Tim Hortons (pp. 510-513) Chapter 3 Chapter 4 & 5 Individual short paper due Chapter 6 4 Jan 28 5 Feb 4 6 Feb 11 Team project proposal due No class Feb 18 University Closed (Family Day). No Class. 7 Feb 25 Organization Size, Life Cycle, and Decline Short Case: I Love Rewards Inc. (pp. 348-350) Organizational Culture Short Case: Closing the Gap (pp. 386-387) Innovation & Change Management Case: The Hospital for Sick Children (pp. 514-520) Chapter 9 8 Mar 4 Chapter 10 9 Mar 11 Chapter 11 Chapter 12 Team project report due Chapter 13 10 Mar 18 Decision-making 11 Mar 25 Conflict, Power & Politics Final team presentations (1) Final Review & Debrief Final team presentations (2) 12 April 1 N/A TBA by FAS. FINAL EXAM All course materials 6 of 10 POLICY AND PROCEDURE Missed Tests and Assignments (including midterm examinations) Students who miss a test or assignment for reasons entirely beyond their control (e. g. illness) may submit a request for special consideration. Provided that notification and documentation are provided in a timely manner, and that the request is subsequently approved, no academic penalty will be applied. In such cases, students must notify Rotman Commerce on the date of the missed test (or due date in the case of course work) and submit supporting documentation (e.g. a medical certificate) to the Rotman Commerce Program Office within one week of the originally scheduled test or due date. Students who do not provide Rotman Commerce or the instructor with appropriate or sufficient supporting documentation will be given a grade of 0 (zero). Note that the physician’s report must establish that the patient was examined and diagnosed at the time of illness, not after the fact. The Faculty will not accept a statement that merely confirms a later report of illness made by the student to a physician. Late Assignments Assignments are due at the beginning of the class of the weeks specified in the outline. The grade will normally be reduced by 10% if the assignment is not received by the specified time, and by an additional 10% per day late. Students who, for reasons beyond their control, are unable to submit an assignment by its deadline must obtain approval from the instructor for an extension. Supporting documentation will be required as per the policy on missed tests and assignments. Accessibility Needs The University of Toronto is committed to accessibility. If you require accommodations for a disability, or have any accessibility concerns about the course, the classroom or course materials, please contact Accessibility Services as soon as possible: disability. services@utoronto. ca or http://www. accessibility. utoronto. ca/. Attendance of Other Sections I teach two sections of this class on Monday. You must attend the section in which you are registered. Under exceptional circumstances, however, you may attend a different section on the same day (each section will cover the same material) provided that you receive permission from me at least three days in advance. Email Policy & Office Hours At times, the course instructor may decide to communicate important course information by email. As such, all UofT students are required to have a valid UTmail+ email address. You are responsible for ensuring that your UTmail+ email address is set up AND properly entered on the ROSI system. For more information please visit http://help. ic. utoronto. ca/category/3/utmail. html Forwarding your utoronto. ca email to a Hotmail, Gmail, Yahoo or other type of email account is not advisable. In some cases, messages from utoronto. ca addresses sent to Hotmail, Gmail or Yahoo accounts are filtered as junk mail, which means that important messages from your course instructor may end up in your spam or junk mail folder. 7 of 10 Blackboard and the Course Page The online course page for this course is accessed through Blackboard. To access the course page, go to the UofT Portal login at https://portal. utoronto. ca/ and log in using your UTORid and password. Once you have logged in, look for the My Courses module where you’ll find the link to all your course websites. If you don’t see the course listed here but you are properly registered for the course in ROSI, wait 48 hours. If the course does not appear, go to the Information Commons Help Desk in Robarts Library, 1st floor, for help, or explore the Portal Information and Help at www. portalinfo. utoronto. ca/students and review the Frequently Asked Questions. Classroom Norms Consistent with the general goal of mutual respect for all course participants, students are expected the following: Attending the class. Each class benefits from the attendance and participation of all students. Your grade for participation will be affected by absences. You should sit in the assigned seat, if relevant, and display a legible name card at all times. Arriving on time. Late arrivals are disruptive to both lectures and class discussion, and show disrespect to those who are on time. Class starts 10 minutes after the hour. Minimizing disruptions. All cell phones and pagers should be turned off during class. You should not leave and re-enter the class. You should avoid engaging in side conversations after class has begun. Focusing on the class. Laptops, iPads, and other electronic devices should be turned off during class. Being prepared for class. You should be ready to discuss any assigned readings and to answer any assigned questions for each day’s class, including being ready to open a case assigned for that day. Respect. You should act respectfully toward all class participants. Prepare using only class materials. Before a case is analyzed in class, you should neither read an analysis of the cases nor discuss it with students who have previously discussed it in class (either in a previous year or in a different course or section). Similarly, you should not share the notes handed in class with another student who may take the course at some later time. If you are in violation of this policy, or know of someone who is, please discuss it with the professor. How to Prepare for Class For all lectures: ? Start by skimming the readings, looking at headings and subheadings to understand what the reading discusses. ? Then, delve into the readings and consider the following questions. What are the central points of the reading? Why are these points important? What is not addressed? What assumptions are being made? 8 of 10 For cases: While there is no set method of case preparation, one approach involves the following: 1 ? Start by reading the textbook or any theoretical readings or articles that are also assigned. Consider what the case is designed to accomplish—why this case, now, in this course? Use the other readings as a way to frame your reading of the case ? Read the exhibits (if any) first. What do they say about the case? Then, skim the case. ? Read the case. Take notes on important issues. Draw links between the other readings and the assigned case. Apply any tools discussed in the other readings. ? Reread the exhibits (if any). ? Also, don’t forget what we’ve learned in prior classes. Often, using our tools of analysis will give you new insights into a particular case. ? It’s often helpful to summarize your perspective of the case on a single page of notes. It requires you to focus on the larger issues at hand, rather than feeling that every fact is important. ? Take a stand. What are the core issues in this case? Why are they so important? What should be done? What will happen if your idea is implemented? Academic Integrity Academic Integrity is a fundamental value essential to the pursuit of learning and scholarships at the University of Toronto. Participating honestly, respectively, responsibly, and fairly in this academic community ensures that the UofT degree that you earn will continue to be valued and respected as a true signifier of a student’s individual work and academic achievement. As a result, the University treats cases of academic misconduct very seriously. The University of Toronto’s Code of Behaviour on Academic Matters http://www.governingcouncil. utoronto. ca/policies/behaveac. htm outlines the behaviours that constitute academic misconduct, the process for addressing academic offences, and the penalties that may be imposed. You are expected to be familiar with the contents of this document. Potential offences include, but are not limited to: In papers and assignments: †¢ Using someone else’s ideas or words without appropriate acknowledgement. †¢ Submitting your own work in more than one course without the permission of the instructor. †¢ Making up sources or facts. †¢ Obtaining or providing unauthorized assistance on any assignment (this includes collaborating with others on assignments that are supposed to be completed individually). On test and exams: †¢ Using or possessing any unauthorized aid, including a cell phone. †¢ Looking at someone else’s answers †¢ Misrepresenting your identity. †¢ Submitting an altered test for re-grading. 1 This section borrows from Prof. Anita McGahan’s notes on case preparation (article forthcoming) 9 of 10 Misrepresentation: †¢ Falsifying institutional documents or grades. †¢ Falsifying or altering any documentation required by the University, including (but not limited to), medical notes. All suspected cases of academic dishonesty will be investigated by the following procedures outlined in the Code of Behaviour on Academic Matters. If you have any question about what is or is not permitted in the course, please do not hesitate to contact the course instructor. If you have any questions about appropriate research and citation methods, you are expected to seek out additional information from the instructor or other UofT resources such as College Writing Centres or the Academic Success Centre. Recording Lectures Lectures and course materials prepared by the instructor are considered by the University to be an instructor’s intellectual property covered by the Canadian Copyright Act. Students wishing to record a lecture or other course material in any way are required to ask the instructor’s explicit permission, and may not do so unless permission is granted (note: students who have been previously granted permission to record lectures as an accommodation for a disability are, of course, excepted). This includes tape recording, filming, photographing PowerPoint slides, Blackboard materials, etc. If permission is granted by the instructor (or via Accessibility Services), it is intended for the individual student’s own study purposes and does not include permission to â€Å"publish† them in anyway. It is absolutely forbidden for a student to publish an instructor’s notes to a website or sell them in any other form without formal permission.

Strategy in Global Context

Strategy in Global Context January 29 2010 Submitted To: Mr. Nirmaalya B Biswas Submitted By: Jaskaran Singh Apoorva Veeksha Rai Robin Gupta ` ? Table of Contents Executive Summary3 Introduction4 External Environment5 Internal Assessment6 Organizational Purpose8 Strategy Analysis and Choice9 Current Strategy11 Conclusion11 Bibliography12 Annexure-113 EFE Matrix13 Annexure-214 Per capita income14 Annexure-315 IFE Matrix15 Annexure-416 The Internal – External (IE) Matrix16 Annexure-517 The Grand Strategy Matrix17 Annexure-618 QSPM18 ? Executive Summary McDonald’s is a signature restaurant chain serving 58 million customers each day all over the world through its 31000 restaurants in 119 countries. This report views the various internal and external factors affecting the McDonald’s prior to that the report gives a brief introduction about McDonald’s, its evolution and the way it entered the Indian market. Evaluation of the response McDonald’s is giving to the internal and external factors has been calculated through the Internal Factor Evaluation matrix and External Factor Evaluation matrix. We have used the I/E matrix and the Grand strategy matrix to formulate strategies. We formulated two possible strategies i. i. expansion in the market and product development. The strategies that we formulated using the above stated matrices have been evaluated by using the Quantitative Strategic Planning Matrix to know which strategy is more viable. Furthermore, the report provides an insight into the organizational purpose of the McDonald’s. Current strategies and recommendations include the analysis of the strategies that McDonald’s is using to hold and maintain its competitive advantage. Introduction McDonald’s is the largest burger fast food chain which has its operations in 119 countries. It serves around 58 million customers every day through its more than 31,000 restaurants (McDonald's, 2009). McDonald’s was started by two brothers Dick and Mac McDonald’s in the year 1940. Ray Kroc became the first franchisee as he opened a restaurant in Chicago. Restaurant became so popular among the masses that in just four years the number of McDonald’s restaurants reached 100. QSCV i. e. Quality, Service, Cleanliness and Value became the motto of the company and the execution of the same is one of the primary reasons why McDonald’s is what it is today. In 1961, Ray Kroc payed $2. 7 million to Dick and Mac McDonald’s and acquired all the rights reserved of McDonald’s. McDonald’s was growing at such a fast speed that in 1963, 500th restaurant was opened. In 1965, McDonald’s went public and in 1967 first restaurant across the borders of USA was opened in Canada and since then McDonald’s has never looked back. Presently McDonald’s has its restaurants in 119 countries of the world (McDonald's History, 2009). McDonald’s got the approval to enter in the Indian market in the year 1991 itself but it took 5 years to study the market, needs of the people, adjust the menu according to the culture and to build a strong supply chain. McDonald’s finally entered India in 1996 as it opened its first restaurant in New Delhi. McDonald’s is a joint venture in India, which was signed in April 1995 and is managed and owned by Mr. Amit Jatia (MD of Hardcastle Restaurants private Ltd. who heads the operations in South and West India and by Connaught Plaza restaurants Private Ltd. which looks after the operations in North and East India. There are 158 restaurants in the whole country today (About McDonald's, 2009). McDonald’s has always believed in thinking global and acting local. Before entering into the Indian market McDonald’s made to changes in its menu as in Indi a beef and pork items cannot be offered because of the religious sentiments of the people so they had to be eliminated from the menu. Thus, making India the first country where McDonald’s does not serve beef and pork in its burgers. External Environment External factors are the factors which do not exist within the realm of business itself and on which business has no control at all. We have used the EFE Matrix to conduct an external strategic – management audit (Annexure-1 shows the EFE matrix). The total weighted score of McDonald’s is 3. 04 this shows that it is performing with regards to the external factors in a very good manner. According to Technopark report in 2009 the food industry in India stood at $13 billion and estimates say that by the end of 2011 the fast food industry alone will grow to $6. 3 billion (Economic Times, 2010). The Technopark report also says that within the organized food service which is growing at a furious pace of 20% per annum the quick service restaurants are the fastest growing. This forms a huge opportunity for McDonald’s and it is determined to grab that opportunity with both the hands as it is planning to open 180-190 more restaurants in the country by the year 2015 (Financial Express, 2009). McDonald’s is determined to expand its market share in the industry which is growing at a fast pace. The other reasons which are triggering this expansion are the high youth population in the country and rise in urbanization and per capita income. These reasons develop the new opportunities for McDonald’s. Population living in the urban areas has also increased to 28% in 2004 and is expected to be increase by another 12% by year 2025 (Indian Demographic Scenario,2025, 2009). In urban areas the number of dual income households is increasing. Thus females, like their husbands, spend time away from home which has marked the way the females use to mange family meals. People have started opting for food away from home. Per capita income in India is also increasing very rapidly and moreover according to the World Resource Institute report ‘Structure of poverty in India’ which was published in the 2004 around 53% of the household income in India is spent on food, beverages and around Rs. 35000 crores is spent on eating out annually (Annexure-2 shows the rise in per capita income). Thus, the fast food industry has good prospects ahead. Other key external factor that forms an opportunity for the fast food industry as a whole and also for McDonald’s is the fact that 30% of the population of the country is the youth which is in the age group of 10-24 years of age who are generally inclined towards the fast foods (Youth in India, 2009). Rising consciousness about the health forms one of the greatest threats for the fast food industry. The trend has been changing towards the organic foods and the quick service restaurants will have to adapt themselves to sustain their market share. McDonald’s has slowly started to adapt to this change by introducing salads. For the foreign fast food chains like McDonald’s, KFC etc. nationalism remains a constant threat for example when in 2005 USA denied a diplomatic visa to the Gujarat Chief Minister Mr. Narendra Modi, various protests were launched by the BJP party activists against the American MNC’s. Low barriers to entry in the fast food industry is also a potential threat for the players in the market because if the barriers are low and the growth opportunities of the industry are high, new players will be willing to enter into the market and thus increasing the competition. Internal Assessment Internal factors are the factors which exist within the realm of business itself and on which business exercise certain amount of control. We have used the IFE Matrix to conduct an internal strategic – management audit (Annexure-3 shows the IFE matrix). The total weighted score of McDonald’s is 3. 14, which means that it is performing with regards to these factors in an exceedingly well manner. McDonald’s is a well known and a recognized brand across the globe. This familiarity of the brand among the masses forms one of the biggest strengths for McDonald’s. Efficient supply chain is one of the other key strengths for McDonald’s. In India 50,000 crores of food produced gets destroyed because of lack of proper infrastructural facilities of transportation and storage. McDonald’s had set up an efficient supply chain by investing 450 crores in supply chain management even before opening its first restaurant in India to implement its Quality, Service, Cleanliness and Value principle (About McDonald's, 2009). For any business, employees form the greatest asset and it is even truer in case of McDonald’s. The proficient work force that McDonald’s has is one of the key reasons why it is one of the key players in the market today. The ability to provide the order within one minute is one such manifestation of this proficiency. The efficiency of the employees is also increased because of the various training programmes they go through which help them in performing their tasks quickly and in a better way but also enhances their capabilities which help them rise in their careers. Around 40% of the employees in middle management of McDonald’s in India are the ones who had joined as crew members. Business environment is very dynamic no business can afford to remain static; it has to work continuously towards innovation. Nearly 80% of McDonald’s restaurants in India give certain percentage of their profits for research and development activities. This is another important strength for McDonald’s. McDonald’s has its operations in 119 countries; one of the key reasons for the McDonald’s is the ability to make itself a part of the community. In India also McDonald’s has been a part of various social welfare activities like – raising funds for charity on World’s Children Day, helping in setting up pulse polio to eliminate polio. McDonald’s strategy revolved around customization of the menu to suit the Indian palate. (About McDoanld's, 2009) One of the key weaknesses that McDonald’s has is that it faces a high attrition ratio as high as 83%, which means that company has to invest money for training of new employees again and again. (Business Standard, 2009) McDonald’s often faces protests from environmentalists for promoting practices harmful to the environment through the disposal of tons of packaging material and through the effects of cattle ranching. Another internal weakness for McDonald’s is that is yet to capitalize on the trend towards organic food. Even though it has reacted to the changing preferences of the consumers by introducing salads in the menu but it is still to make the most of the opportunity. Organizational Purpose Clearly defined organizational purpose is very important for an organization as it describes the basis for its existence. It works as a directing force on the basis of which every decision is taken. The organizational purpose can be known with the help of three elements which are: 1. Vision . Mission 3. Objective McDonald’s vision is to be the world’s best quick service restaurant experience. ([email  protected]'s, 2010) Being the best means offering excellent quality, service, cleanliness and value, so that it makes each customer in every restaurant smile. It has been the execution of the motto of QSC and V i. e. Quality, Service, Value and Cleanliness that has made McDonaldâ₠¬â„¢s a success story. It strategizes to attain best value by providing top quality products at reasonable prices. McDonald's mission is to be its customers' favorite place and way to eat. To fulfill this McDonald’s has been using the concentration strategy where in it is trying for greater market penetration by attaining high level of efficiency in servicing its customers with a limited product line. Delivery of QSC and V on one hand keeps the customers satisfied and on the other hand also maintains the competitive edge over the competitors. The delivery of QSC and V is accomplished by taking care of every minute detail whether it is the unique cold chain network which makes sure that the customers get fresh products at low cost or the supply chain management which makes sure that customers are offered good quality products. About McDoanld's, 2009) Moreover to keep the customers satisfied McDonald’s continuously updates its menu. Strategy Analysis and Choice In the IFE matrix the total weighted score came out to be 3. 14 and in the EFE matrix the total weighted score was 3. 04. This means that McDonald’s is responding to the internal and external factors in a good way. We have used I/E matrix to come out with a strategy for McDonald’s on the basis of its score in the IFE and EFE matrix (Annexure-4 shows the I/E matrix). The basis f I/E matrix are the total weighted score of the IFE matrix which is represented on X axis and the weighted score of EFE matrix is represented on Y axis. The I/E matrix is divided in three regions which have strategy implication. Quadrants I, II and IV are the regions of grow and build. Firms which position in Quadrant III, V and VII can be managed with hold and maintain strategy where as the organizations positioned in Quadrant VI, VIII and IX can be managed with harvest and divest strategy. McDonald’s is placed in the I/E matrix it comes in the Quadrant-I because of its score in the IFE and EFE matrix which is 3. 4 and 3. 04 respectively. The business organizations which are positioned in Quadrant I can be best managed through grow and build strategy. The Grand Strategy Matrix is ano ther widely used tool for formulating strategies. A firm can be positioned in the four quadrants on the basis of market growth and competitive position that it holds in the market. When we placed McDonald’s in the Grand Strategy Matrix it was positioned in Quadrant I mainly because of its high market share of 18% in the highly fragmented quick service restaurant and also because of rapid growth of the quick service restaurant industry itself. Financial Express, 2009)Thus, McDonald’s is in a strong strategic position (Annexure-5 shows the Grand strategy matrix). For the firms in Quadrant I market penetration, market development and product development are appropriate strategies. By using the Grand strategy matrix and Internal/External matrix we have come up with two strategies which are expansion in the market i. e. opening more restaurants in the country and the other strategies is product development which is developing the new products and continuously updating the m enu in order to pull more customers. Need for product development arises specially because of the rising health consciousness among the people particularly in the educated class. To identify which strategy is more feasible we have used the Quantitative Strategic Planning Matrix popularly known as QSPM. QSPM is a strategic management tool to evaluate which of the possible strategies is better for the business organization. In QSPM weights and attractive scores are given to each factor according to the amount of effect it can have on each strategy and then the product of weight and attractive score is calculated. The product for whichever strategy is greater is selected. We used two strategies expansion in the market and product development, the total attractive score for expansion in the market is 3. 37 and for product development is 2. 60. Thus, opening more restaurants is a more viable strategy than product development. Currently McDonald’s has 157 restaurants all over India, majority of these are in the metropolitan cities or in larger cities like Chandigarh, Kanpur, Jaipur so it has very less or limited presence in smaller cities. So, McDonald’s should target these cities as they form a large potential market for it. With the per capita income on rise, high youth population in the country and increasing urbanization the smaller cities can prove promising markets for McDonald’s. If we look at the current plans of McDonald’s it becomes clear that they have spotted this opportunity as they are planning to open 180 restaurants by the year 2015 majority of these restaurants will be opened in smaller cities. Retail initiatives are being taken up by petroleum companies like Bharat Petroleum Corporation. Financial Express, 2009) McDonald’s can capitalize on this trend and can set up more outlets near the petrol stations on the highways and can thus increase its presence. Current Strategy McDonald’s is currently focusing on expanding its base in the Indian market. By the year 2015 McDonald’s is planning to start around 180 more restaurants, majority of which will be opened in T ier II cities where McDonald’s has very limited presence. (financialexpress, 2009) So, McDonald’s is trying to penetrate very deep into the Indian market. McDonald’s is also trying to come up with new products so as to satisfy its customers. Nearly 80% of McDonald’s restaurants in India give certain percentage of their profits for research and development activities which helps McDonald’s in coming up with new products and efficient service. When McDonald’s entered the Indian market it had to re-engineer its menu and since then it has included several products especially for the Indian customers as McDonald’s believes in thinking global but acting local. McDonald’s should continue with its strategy of expanding its base into the Indian market as still there are lot of untapped regional markets in the country especially in the Eastern India where it has less presence as compared to the other parts of the country. McDonald’s should also concentrate on the smaller cities as large amount of population (nearly 177 million people) lives in smaller cities. So there is a huge market potential for McDonald’s in Tier II and III cities. (Population in small cities, 2010) Conclusion The Indian Quick Service Restaurant industry is growing at a very fast pace. Per capita income, urbanization and youth population is also increasing in India. So India is a very potential and attractive market for the quick service restaurants. McDonald’s should make the most of the opportunity and should penetrate deep into the market by increasing the number of restaurants in India. It should concentrate on increasing its base in the smaller cities which can form potential markets for McDonald’s. References About McDonald's. (2009). Retrieved 2009, from mcdonaldsindia. com: http://www. mcdonaldsindia. com/aboutus. html Brief history of McDonald's. (2009). Retrieved December 22, 2009, from mcspotlight. org: http://www. mcspotlight. org/company/company_history. html Business Standard. (2009). Retrieved January 2010, from business-standard. com: http://www. business-standard. com/india/storypage. php? autono=290494. Economic Times. (2010). Retrieved January 2010, from economictimes. indiatimes. com: http://economictimes. indiatimes. com/News/articlelist/1715249553. cms Financial Express. (2009). Retrieved 2009, from financialexpress. com: http://www. financialexpress. com/news/mcdonalds-india-to-open-180190-more-restaurants-by-2015/466279/ Financial Express. 2009, June). Retrieved January 2010, from financialexpress. com: http://www. financialexpress. com/news/mcdonalds-to-invest-rs-400-cr-in-india/321481/ Financial Express. (2009). Retrieved January 2010, from financialexpress. com: http://www. financialexpress. com/news/bpcl-plans-to-grow-in-retail-initiative/101536/ financialexpress. (2009). Retrieved 2009, from financialexpress. com: 3. http://www. financialexpress. com/news/mcdonalds-india-to-open-180190-more-restaurants-by-2015/466279/ McDonald's. (2009). Retrieved January 2010, from aboutmcdonalds. com: http://aboutmcdonalds. om/mcd/our_company. html McDonald's History. (2009). Retrieved January 2010, from aboutmcdonalds. com: http://aboutmcdonalds. com/mcd/our_company/mcd_history. html Population in small cities. (2010). Retrieved January 2010, from infochangeindia. org: infochangeindia. org/†¦ India/Cityscapes/Slumdogs-and-small-towns. html [email  protected]'s. (2010). Retrieved 2010, from mcdonaldsindia. com: http://www. mcdonaldsindia. com/workat. html Youth in India. (2009). Retrieved 2010, from www. popcouncil. org: http://www. popcouncil. org/projects/TA_IndiaYouthSituationNeeds. html Annexure-1 EFE Matrix S. No. Key External FactorsWeightageRankWeighted Score 1. 2. 3. 4. 5. 1. 2. 3. Opportunities Increasing urbanization High youth population Rise in per capita income Indian quick service industry expected to be around $6. 3 billion High proportion of household income spent on food and beverages. Threats Rising health consciousness Anti American sentiments Low barriers for entry 0. 10 0. 15 0. 10 0. 15 0. 10 0. 10 0. 10 0. 20 1. 00 4 3 3 4 3 4 2 2 0. 40 0. 45 0. 30 0. 60 0. 30 0. 40 0. 20 0. 40 3. 04 Annexure-2 Per capita income Annexure-3 IFE Matrix S. No. Key Internal FactorsWeightageRankWeighted Score 1. . 3. 4. 5. 6. 7. 8. 1. 2. 3. 4. Strengths High brand awareness Efficient supply chain Community involvement Efficient workforce World class training programmes Investment in research and development Quality of food Customization of menu Weaknesses High employee turnover Less variety Environmental issues Yet to capitalize on trend towards organic food 0. 10 0. 10 0. 05 0. 10 0. 09 0. 10 0. 10 0. 08 0. 10 0. 08 0. 05 0. 05 1. 0 4 4 3 3 4 4 3 3 2 3 2 1 0. 40 0. 40 0. 15 0. 30 0. 36 0. 40 0. 30 0. 24 0. 20 0. 24 0. 10 0. 05 3. 14 Annexure-4 The Internal – External (IE) Matrix McDonald’s Strong(3. 0 – 4. ) Average (2. 0 – 2. 99)Weak (1. 0 – 1. 99) High (3. 0 – 4. 0) Medium (2. 0 – 2. 99) Low (1. 0 – 1. 99) Annexure-5 The Grand Strategy Matrix Annexure-6 QSPM Expansion in the marketProduct Development Key FactorsWeightAS TAS ASTAS Opportunities Increasing urbanization0. 1040. 4010. 10 High youth population0. 1540. 6010. 15 Rise in per capita income0. 10—- Indian quick service industry expected to be around $6. 3 billion by 20110. 1530. 4520. 30 High proportion of household income spent on food and beverages0. 1030. 3020. 20 Threats Rising health consciousness0. 1020. 2040. 40 Anti-American sentiments0. 0—- Low barriers to entry0. 20—- 1. 00 Strengths High brand awareness0. 1020. 2010. 10 Efficient supply chain0. 1030. 3020. 20 Community involvement0. 05—- Efficient workforce0. 1030. 3020. 20 World class training programmes0. 0920. 1810. 09 Investment in research and development0. 10—- Quality of food0. 1020. 2030. 30 Customization of menu0. 0820. 1640. 32 Weaknesses High employee turnover0. 10—- Less variety0. 0810. 0830. 24 Environmental issues0. 05—- Yet to capitalize on the trend towards organic food0. 05—- 1. 00 Total Attractive Score 3. 37 2. 60

Wedding of a close relative Essay Example | Topics and Well Written Essays - 500 words

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The Applicants Behavior and Personality Traits Research Paper

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Book of Sand Essay Example for Free

Book of Sand Essay 1.The book had affected the narrator to a great extent. At first he did not care for the book, until the stranger selling Bibles said â€Å"the number of pages in this book is literally infinite. No page is the first page; no page is the last†. This intrigued the narrator’s mind. After he had bought the book, he began investigating. He noted down things in the book. He began losing sleep from the investigation and when he actually got sleep, his dreams were about the book. As it states in the short story, â€Å"At night, during the rare intervals spared me by insomnia, I dreamed of the book†. He had grown an obsession with the book, which altered his lifestyle and forced him to hide the book in the library. 2.The literary device that the author uses to compare the book and himself to was a metaphor. When the narrator said, â€Å"it was cold consolation to think that I, who looked upon it with my eye and fondled it with my ten flesh-and-bone fingers, was no less monstrous than the book†, this proved that he was comparing himself to the monstrous book. The meaning and significance of this metaphor states that he was no different from the book. His mind was now as dense and endless. The book carried infinite secrets and toyed with its readers. As it stated in the short story, â€Å"I felt it was a nightmare thing, an obscene thing, and that it defiled and corrupted reality†. The narrator felt that the deadly secrets that emanated from the book were all getting to his head. His fear of infinite evil caused him to hide the demonic book and run away from the eternal thoughts. 3.In the short story, â€Å"The Book of Sand† by Jorge Luis Borges, the narrator states that he had become a â€Å"prisoner of the book†. This is evidently shown when he obsessively investigates the book. He barely slept because all he could think about was the book, and he barely left his house. As it’s shown, â€Å"I had but few friends left, and those I stopped seeing. A prisoner of the book, I hardly left my house†. He became isolated and trapped in the secrets and mystery of the book. 4.The salesman’s previous warning to the narrator about the book as he stated, â€Å"Look at it well. You will never see it again†, had come true in this short story. The book was infinite, full of endless amounts of illustrations and had no beginning or end. When the narrator said, â€Å"They never repeated themselves†, this proved that it was impossible for anyone to revisit the same page. Therefore the salesman’s previous warning had come true. 5.The author of the short story, Jorge Luis Borges, illustrates the idea of giving up the things we should have valued but instead take for granted for the sole purpose of pleasing one’s obsession to obtain things that will end up destroying humanity regardless of the fulfillment of curiosity. In the beginning, the narrator didn’t seem to care about The Book of Sand. It was not until the salesman had said that it had infinite pages that caught the attention of the narrator. He now wanted the book and would pay a great amount for it. When the narrator offered a trade, â€Å"I will offer you the full sum of my pension. . . and Wyclif’s black-letter Bible†, it proved that he would give up his valuables to get a hold of that book, which little did he know would actually destroy him. He grew an obsession for the book. As it states in the story, â€Å"At night, during the rare intervals spared me by insomnia, I dreamed of the book†. This provides evidence of the fact that he had been so extremely fixated on the diabolical book that even when his body was asleep, his mind was still obsessing over it. When he realizes the mistake he made, giving into his curiosity, he decides to get rid of the monstrous book. However at this point he had already lost his friends and the things he valued. The book had taken up a great extent of his time that could not be taken back, because unlike The Book of Sand, his life was not infinite. 6.The literary device used is a metaphor. I think this because when the narrator says â€Å"the best place to hide a leaf is in the forest†, he is referring to a way to hide The Book of Sand. At first he considered destroying the evil thing. Although he thought that the â€Å"burning of an infinite book might be similarly infinite, and suffocate the planet in smoke†. Therefore he thought to hide the book in plain sight. Hiding a leaf in the forest is like hiding a book in a library. He hid the book on one of the library’s damp shelves in the basement and tried not to notice where exactly he put it. He did this so he and anyone else wouldn’t be able to find the monstrous book. He didn’t want to be a â€Å"prisoner of the book† anymore. The book had ruined his life and took away time, the most precious thing we have in life. He didn’t want to be trapped by the isolation of the book and so he hid it where it could never be found.

Comparative, Absolute, and Competitive Advantage in trade

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There are numerous part of worldwide exchange, which prompt, innovative change and this expanded the rate of monetary development. There are, for the most part, three components of that engineering change: expanded aggressive weight, epitome in imports and learning exchange by business contacts (Sjà ¶holm 1997) The America has long been a centre point for semiconductor and semiconductor materials produce. The semiconductor business had its starting point in the US, and the greater parts of the authentic developments in the business have been in the US. The America business has an outright focal point in both the assembling and offers of semiconductors. The America semiconductor industry is made up of in excess of 60 organizations today, the biggest and most known of these incorporate; Actel Organization, Altera, an Intel Company, IBM Enterprise, Landsdale Semiconductor, Micron Innovation, Rambus, Rochester Gadgets, and Spansion. Economists have created hypotheses to clarify the instruments of worldwide exchange. The primary authentic speculations are called to establish hypothesis. This is focused around the nation. After eventually speculations started to move to clarify exchanged from a firm or organization based not a nation viewpoint. International trade is a vital piece of the American economy. Endless American organizations rely on upon remote shoppers to support their benefits. Furthermore, American customers (both individual and mechanical) rely on upon outside suppliers to take care of their demand for products and assets Absolute Advantage: The theory of absolute advantage was proposed by Adam Smith, which expressed that a nation concentrates on the capacity to deliver a decent more proficiently than an alternate country (New Sanction College, 2012). He said that exchange ought to take after characteristically as indicated by business strengths. Case in point if one nation creates a decent less expensive and quicker as contrast with other so it is better to concentrate on specialization on delivering that great. Smiths hypothesis said that expand the specialization in both nations would profit for both nations and exchange ought to be likewise empowered. This hypothesis express that a nation riches cant be measured by the amount gold and silver it had however by the living guidelines of its kin could be measured. Comparative Advantage: In 1817, the theory was introduced by David Ricardo, according to him, when a nation cant deliver an item more proficiently than the other nation than similar preference happens. It can deliver that item preferred and all the more proficiently over it does different products (Voss Voss, 2008). This hypothesis clarify that how nations through imports can expand their welfare by at the same time offering merchandise and administrations in worldwide business. Two nations can get profit regardless of the fact that one nation could create all products with less assets. The other, give the relative effectiveness, which products might create, contrasts between the two nations. Michael E. Porter one of the leading theorists proposed this theory. According to Porter, the focal point of countries is the limit of its industry to advance and move up to structure a countrys aggressiveness. Profit organizations from having home based suppliers forcefully, residential opponents firmly, and requesting neighbourhood clients. Organizations accomplish advantage from demonstrations of advancement. They approach development in both new innovations and better approaches for doing things. Development could be spoken to in another item outline, new creation methodology, or another promoting method. Seeing a completely new market open door can help make advantage of a few developments. Development yields advantage when the contenders are moderate to react. For example, in automobiles and home hardware commercial enterprises, Japanese organizations concentrated on more modest and lower limit shows that outside contenders loathed as low benefit, low imperativeness, and low fascination (Chou et al., 2000). An absolute and comparative advantage obtains by the America semiconductor industry in the global semiconductor industry Firstly, the America has truly been the focal point of the semiconductor or chip producing industry. US firms, for example, Intel, Texas Instruments, Motorola, IBM, Microsoft, ATT, Hewlett Packard, Macintosh Machine, and exhibit of other early spearheading semiconductor organizations were framed before 1975. A large number of these organizations are spotted or have been truly connected with Silicon Valley† in San Jose, California – so named in light of the quantity of semiconductor chip makers in the territory. The huge number of chip producers in close nearness to each other, produced learning overflows and serious development and rivalry between US semiconductor firms, as specific and exceptionally gifted work was attracted to the region. The drawing of incredible personalities, engineers, creators, and so forth to the region, consequently permitted the America to keep up an inventive contending innovative centre that would eventually keep on profiting the business adv ancement. The opposition and development between these American firms fuelled the development of the America semiconductor industry and gave the business a mechanical and point of interest over all adversaries outside semiconductor commercial ventures at the time The business structure of the America semiconductor industry has additionally assumed an imperative part in pushing proficiency, advancement, high gains, economies of scale and a definitive near point of interest that the America revels in the production of semiconductors today. The business sector has been portrayed by peculiarities of oligopoly (especially in the business initial advancement where firms, for example, Texas Instruments, Intel, IBM, and Ringer Labs overwhelmed the business), monopolistic rivalry (solid item separation and steady requirement for development and inventive new items to increase piece of the pie), and flawed rivalry (where high boundaries exist to new market participants – generally in the assembling of semiconductors, and laws which manage the utilization of specific chips because of their double pertinence in the utilization of military applications. Various participants have moved into the business since the 1970s, such a large number of that t here are currently in excess of more than 65 organizations in the America semiconductor industry. Furious rivalry and new advancements by these organizations has therefore enhanced gains, the business near focal point, the span of the America semiconductor industry, and the offer of worldwide semiconductor deals and fabricates by US firms Conclusion The three customary exchange speculations were talked about. They are all helpful speculations that stay in understanding a large number of modern and exchange arrangements these days. For instance, when a nation considers mechanical and exchange strategies, the relative point of interest hypothesis could be an essential rule. Since todays reality is significantly more convoluted than some time recently, those hypotheses are not palatable in clarifying the worldwide exchange these day circumstances. The fundamental objective of model building comprehends the world, effortlessly by perceiving the most vital variables. Works cited Chacarbaghi; Lynch, Competitive Advantage: Creating and Sustaining Superior Performance by Michael E. Porter 1980, 2009 p.45 Harrington, James W. International Trade Theory. Geography 349 Absolute advantage. University of Washington. 2009: 25-34. Johnson, Paul M. Absolute advantage. A Glossary of Political Economy Terms. Department of Political Science, Auburn University, 2009: 15-33. Porter, Michael E. Competitive Advantage, 1985. Free Press Samuelson, Paul. A Ricardo-Sraffa Paradigm Comparing the Gains from Trade in Inputs and Finished Goods. Journal of Economic Literature 39 (4): 2010, 1204–1214 Warf, Frederick P. Stutz, Barney. The world economy: resources, location, trade and development (5th ed. ed.), 2007. Upper Saddle River

The Real Time Fashion Photography Studio Marketing Essay

The Real Time Fashion Photography Studio Marketing Essay Real time Fashion Photography studio is a small business aimed at bringing a smile to every models face when they see their beauty captured in a stunning portrait. The business will offer a wide variety of products, such as: formal studio portraits, location portrait sessions, holiday candid photographs, portrait finishes, and framing. Portrait sittings are available in either the well-equipped studio, the comfort of the clients home, or in an outdoor setting. Real time Fashion Photography will be located in Indira Nagar, Bangalore. The business will be established as Sole Proprietorship. With two years experience in a variety of dealing with Fashion portfolio, British library, Bone China, I have acquired a range of transferable skills and attributes. These include sales experience through my previous retail management experience as well as photographic and design management skills gained through professional studies at Ayr College as well as Image College of art, animation and technology. My target audience will be upcoming models those who were studying fashion, love fashion to be a part of their carrier, and also one who have glamour and beauty and wanted to show their talent and skills. In Bangalore city there are numerous no of institutes around 16 institutes for fashion and total no of student in each year comes around 2000 students each year. Not only institutes, a individual also be my target audience who wants to shows his talent through his portfolio. Real-time Fashion Photography studio will reach their audience by targeting clients of these existing markets. We will fill an existing need for the client by specialising in fashion photography. Through advertisements in the print media, brochures, and establishing working relationships with fashion organizations and we will highlight our quality products and services to them. Each Clients of real-time fashion studio will receive a customizable profile page to introduce their skills and a photo album. Real-time Fashion Photography will be in a unique position of competition. We compete against the standard portrait studio that may photograph people, but only as an adjunct to fashion photographing. Real-time Fashion Photography will be in competitive edge as its commitment to customer service and satisfaction. We offer an array of services, flexible scheduling, and have the latest technology, with state of art infrastructure to produce beautiful fashion stylist photographic portraits. At Real-time Fashion Photography studio, models will our primary business; we understand model and how to get the right elements together for a successful portrait session. Our number-one goal will be quality results. Photography businesses usually require a significant initial investment in equipment and facilities. However the owner of Real-time Fashion Photography has been freelancer fashion photographer for two years and experienced professional-level photographic equipment to get the business off to a good start. In addition, the will be a cash support from family-based business. I really say thanks for giving a backbone support towards my fashion studio to my family members. 2. Introduction Establishing a Real-time Fashion studio business has been a goal for the past two years. For the past year i had worked with an experienced model in order to develop the reputation and professionalism required to establish this business. My mission statement is Treating our each model like beauty and Glamour The keys to success at Real-Time Fashion Photography studio include: Customer Satisfaction: providing a service that consistently meets or exceeds customers expectations. Environment: providing an environment conducive to bringing the best out of the model. Convenience: offering clients a wide range of services in a location or environment convenient to them. Reputation: reputation of the model and business as providing superior personal service. Professionalism: includes everything from meeting deadlines to hiring the best staff. Individual Attention: Each clients experience will be tailored to his or her preference. Repeat business/Recommendations: giving the kind of service that brings people back and encourages them to recommend us to friends and colleagues. Competitive Pricing: providing a fair and competitive price for the quality and array of services offered that provides the business with a fair and reasonable profit. 3. Goals and Objectives Real-Time Fashion Photography studio will be a small business aimed at bringing a smile to every model face when they see their beautiful face captured in a stunning portrait. We have set goals for the business and these are as follows. 0-6 Month Goals Added image manipulation to services provided. Setting up basic machines Secured a business mentor. Contracted tax/accounting consultant. Attending Biz financial training. Applied to Work and Income for start-up funding. Identified a preferred income protection insurance plan (to afford a replacement photographer and/or loss of income protection). 6-12 Month Goals To achieve profit of minimum Rs 8 lakh. Completed work for 350 numbers of clients. Created 100 pieces of stock photography and submitted to stock libraries. Maintained relationships with modeling agencies, Movie-Makers, Advertising agencies, fashion photographers. 1-2 Year Goals To achieve profit of 15 lakh. Completed work for 450 clients. Have to done at least 3 photo exhibitions in 5star hotels. Targeted 2 other places to open in India which include Pune, and Chennai. 3-5 Year Goals To achieve profit of 25 lakh. Completed work for 1200 clients. To be recognised as Indias top 10 fashion photography studios. Franchised the fashion photography business nationwide. Franchised the fashion photography business into India. 4. Business Details Business Ownership and Legal Structure Real-Time Fashion Photography will design to be a Sole Proprietorship business and will initially operate as a sole trader business. At this time it is the most appropriate structure as the business is managed and run by me. At this initial stage the business will face no long term liabilities or debts such as a lease or hire purchase costs; its all supported by my family. I anticipate registering the business as a Limited company in the second year, subject to professional advice. Such advantages would include: Limited liability on the business operations. The perception of professionalism by clients. Taking advantage of lower company tax rates as profits increase above 1000000 rs per annum. Providing a structure that would allow other photographers to participate in my company ownership in the future. Ability to franchise the concept. Company Locations and Facilities Real-time Fashion Photography will be located Indira Nagar, Bangalore. It will be Sole Proprietorship business, with an area of the 1400 square feet dedicated to client reception, office, and a small studio. Clients can elect to have the portrait sitting done in the studio, on location , or in an outdoor setting. The benefits of having the business located at Indira nagar include: Overheads for the business, in the form of the rental of space, power supply and landline telephone, can be minimized as compare to other part of Bangalore such as M.G road, Bgrade Road. The location on the main road of Indira nagar means that clients can easily access the premises by either public or private transportation. Its also in central part of Bangalore. So that most of youngster who want to have portfolio can easily access me. Our office will be equipped with a fax machine, email and a computer. The company will maintain a high degree of professionalism by using only the highest-quality photographic equipment and graphics to produce its portfolio. Products and Services Real-time Fashion Photography Studio offers a variety of products and services to meet our clients needs. We offer specific information on each of our products to the prospective client. This information will design to help the client select a setting for the portfolio session. The pictures we provide will give the client a feel for the variety of poses that can be used, and helps them decide if they wish to incorporate other fashion models in their portfolio. The discussion of the different settings helps the client select a studio session, home session, or outdoor location for the portfolio. We also provide instructions for each setting. Fashion Photography Studio The studio will be controlled environment, free from distraction, where the model can be comfortably posed and lighted to enhance the beauty of the final image. A variety of props and backgrounds will be used to stage a setting that will highlight the models features and coat color. These sessions must not be rushed, so the model can become comfortable in the studio environment and be certain that the studio lights do not frighten or excite the model. There is a standard charge for the portfolio session which we refer to as the sitting fee. The model will provided immediate digital images to be certain we have captured a pleasing likeness. These digital images are not the final proofs, but they do provide photographer and client with the assurance the session is accomplishing the desired outcome. A total of 24 proof-quality photographs will be provided for the client within two days of the photo session. The client will then have 1 days to consider the images before making a final selection. Location for Portfolio Session The model may be more comfortable in the home or a familiar outdoor location. The staff of Real-Time Fashion Photography will travel to the location prior to the portfolio session to select an area that will be the best suited for the session and will most acceptable to the model. Prior to the session, Real-Time Fashion Photography staff will stage the lighting and any other props needed for the photo session. If the location selected for the photo session will be in a public park, the model, not Real-Time Fashion Photography, will legally responsible for the behaviour of the publics. The fee for a photo session in the home or outdoor will be more than the studio because the equipment must be transported, staged, and then broken down. The client will be provided 24 photographic-quality images within two working days of the photo session. The client will then have one working day to consider the images before making a final selection. Additional Services Real-Time Fashion Photography will aware that a model portfolio will be investment as well as a cherished display of beauty and glamour. We offer a variety of portfolio finishes from which to choose. These finishes will be shown to the client upon pick up of the proofs, and the client will be given a brochure which illustrates these finishes to compliment a variety of model images. These finishes are used on the beautiful portfolios that will display in our studio gallery. Real-Time Fashion Photography also offers custom and readymade framing for all portfolios. We have a beautiful selection of tabletop frames to enhance the clients selection, and a variety of framing materials displayed in the studio for custom frame construction. At Real-Time Fashion Photography we will committed to customer service and satisfaction. Start-up Summary The founder of Real-time Fashion Photography Studio had graduated from Image College of Art, Animation and Technology. As I am the owner have a capital available of Rs 40-45 lakh from family to meet these start-up costs, funding is being sought from Work and Incomes Enterprise Allowance Scheme. Once these assets and start-up costs are done the business will be able to begin operations. A range of suppliers were approached for the majority of these start-up costs in order to ensure both quality and a competitive price. Quotes, from the chosen suppliers, for all the start-up costs purchased through the Enterprise Allowance Grant are included in the appendices at the back of the business plan. . Business Management Management Summary The management of Real-time Fashion Photography studio will be very simple in the first few years with the founder also managing the business. In addition to performing the artistic functions of the business, the market expert as well as owner will both initially must be involved in all aspects of the business, such as marketing, payroll, management of both accounts receivable and accounts payable, and other miscellaneous business details. Additional personnel can be added as the business accounts grow, in order to alleviate these responsibilities from the photographer, and this is expected to happen after having all things and equipments that will be 1 month after starting off. Real-Time Fashion Photographys growth will be deliberate rather than fast paced. It is a reasonable assumption that the demands of the office, and also assisting the photographer, might become too much for one individual. Depending on the strengths of the individual that fills the first full-time position, a second staff member may be hired within the first two week, and both will be trained in the others duties. Skills and Experience With two years experience in a variety of creative and commercial employment, Owner(me)had acquired a range of transferable skills and attributes. These include sales experience through his previous Freelance work as well as photographic and design management skills gained through his professional study. I had creative career path started during graduating with a professional degree and since I had also completed one year foundation course in graphic design from Ayr college Scotland. I had spent the past year as a Freelance photographic work for well known Indian companies like British Library, Bone-China and for model work I did completed portfolios for numerous models such as one of my client Rupa Khurana had performed in T.V serials in Rahul lai jayegaa Dulaneyaa in NDTV. I had built a strong network with other established photographers and belong to the Indian Institute of Professional Photographers who openly provide professional and legal advice and benefits. In areas such as financial planning, accounting and legal advice I will building relationships with such advisors to develop these areas of the business (see Advisors, Networks and Support). Staff Requirements Initially few permanent staff will be employed, with a photographic assistant contracted in on a project by project basis as required. After one months a receptionist/photographer assistant position will be advertised and appointed. The duties and job description for this person would include: General reception duties, including phones, mail, and greeting customers, setting appointments and managing appointment calendar, billing, handling both accounts receivable and accounts payable. 2 Assist photographers in portfolio sessions. 2 Marketing executives 2 Tele Callers with online promotions 1 Makeup Artiste 3 Helper 1 Stylist Artist 3 Post-Production Worker Salary Chart Position Salary (Monthly) Salary (Yearly) 1 Receptionist 12000 144000 2 Assistant Photographer 15000/each 360000 2 Marketing Executives 15000/each 360000 1 Make-Artist 15000 180000 3 Helper 12000/each 432000 1 Stylist Artist 15000 180000 3 Post-Production Worker 15000/each 540000 Grand Total 183000/Monthly 2196000/yearly It is understood that anyone employed by the business must have a written employment agreement, whether it be an individual agreement or a collective agreement. It is recognized that the Department of Labor website has an employment agreement builder to provide guidance to employers and employees on content for the creation of individual employment agreements. The builder provides examples of clauses drawn from a range of existing employment agreements, indicates which clauses are legally required in all agreements, and assembles the clauses into one draft agreement for saving and printing out. Advisors, Networks and Support It is recognised that the owner has not previously run a business and that he will need the support of a range of experienced business people, particularly in developing the financial management and processes required for the business. The following advisors will be utilised to assist the business owner operate the business in the most efficient manner. Bankers: Oriental bank of commerce, Indira nagar Bangalore Providing assistance in minimising bank fees and identifying banking products that can help manage and maximise cash flow. Accountant: Rahul Singh Lal bag Bangalore (Assisting in establishing financial processes for the business and will complete end of year accounts.) Lawyer: Sanjay Nandani City center Bangalore (Reviewing client copyright agreements and will be utilised when a limited liability company is established.) Business Advisor: Lakshy Management Consultant Pvt. Bangalore (Providing business advice through the first six months of the business operations.) Professional Association: National Institute of Photography New Delhi (Represents over 1500+ commercial fashion photographers in India. Provides resources, information, marketing and networking opportunities for members.) 6. Business Environment Market Size While no figures exist for overall fashion models in Bangalore, it will known that 15% of Bangalore populations are in fashion industries, thats why it made Bangalore the Fashion capital of East after Paris. In the Bangalore region there are 16 private and 4 national institutes for fashion. Approximately 2000 student each year needed portfolio and 15% of overall population also will be there in fashion. So within this target market, there is wide range of getting lots of customers. And also Bangalore is house of publishing many of international fashion magazines so it will be great for my business if we got tie-up from these magazines company. Today there are a lots of opening in glamour world of still for all age groups. Its not just for youngster but also for kids, mature, old every one. As growth of new trends new products regarding jeweler, cloths, food item, shopping malls, hotels, everywhere fashion photography involved. Market Trends Fashion has always been an important part of the Bangaloreans lifestyle. However, as the Bangalore culture has changed in the last two decades, an even more prominent role for the fashion has emerged. As Bangalore has enjoyed increased standards of living, they expect to pass this on to their fashion. Competition Real-time fashion Photography will be in a unique position of competition. While the portrait photography business is composed of dozens of small, individually-owned studios, fashion photography is a new, but very successful, experiencing rapid growth. We compete against the standard portrait studio that may photograph people, but only as an adjunct to photographing model. The benefits and drawbacks of each of our competitors as compared with the services we offer are hardly a match in quality and price. We are experts in working with model to make them comfortable and to bring out the inner quality and personality of the fashion model. Although we are a new organisation, we are not novices to photography or photographing models. Our scheduling and location flexibility are specifically geared to be client friendly. The fee schedules for Real-Time Fashion Photography are competitively priced. No other area photographer offers the flexibility and array of services provided to the client at Real-Time Fashion Photography. Our commitment to customer service and satisfaction is unequaled. Our major competitors are: Divas fashion studio Strengths: Exclusive Fashion Photographer. Have been in the market longer. Have established client base and reputation. Weaknesses: Array of services is limited. Inflexible with schedules Limited studio capability. Quality of final portrait. Prasad Photography Studios Strengths: Established studio locations and support staff. Established client base, often with repeat clients. Reputation as reliable and stable business. Weaknesses: Often very expensive. Little or no experience in fashion photography. Fashions are a sideline and not the major focus of the business. Can be inflexible with scheduling and out-of-studio work. Local Amateur Photographers Operate from home. Strengths: Pricing. Weaknesses: Quality of final product. Lack of professional photographic equipment and skills. Competitive Edge Real-Time Fashion Photographys competitive edge is its commitment to customer service and satisfaction. We offer an array of services, flexible scheduling, and have the latest technology to produce beautiful photographic portfolio. At Real-Time Fashion Photography, Fashion photography is our primary business, not a sideline or hobby. We understand model and how to get the right elements together for a successful portfolio session. We are patient, and our number one goal is quality results. 7. SWOT Analysis Strengths Formally skilled in photography. Have an established professional network (other photographers and related creative professionals). Acquired photographic best practice skills and knowledge (through working as a photographic assistant). Relationship building appreciates the value of building and sustaining professional relationships. Have strong skills in graphic design and image manipulation. Weaknesses Limited business and industry management experience. Small existing client base. Less start-up capital available. Opportunities Can add image manipulation as an additional service. Target major fashion shows and fashion organizations in other parts of Bangalore. Can create stock photography and submit to stock libraries. Hold first national fashion photo exhibition Franchise the Fashion photography business nationwide. Threats Established Fashion photographers in the Bangalore region. Sudden negative change in the economy, since this is a luxury item. Increased competition in the regional market. Forward Plans Opportunities Completion Date Add image manipulation to services provided. 1 months Create stock photography and submit to stock libraries. 1-2 months Hold first national Fashion photo exhibition. 1-2 years Target major Fashion shows and Fashion organizations in other parts of Bangalore. 1-2 years Franchise the fashion photography business nationwide. 3-5 years Contingency/Task Plans Weaknesses Contingency/Task Date Completed Limited financial management skills and experience. Contract tax/accounting consultant. Undertake free financial training through the Biz Programme. Completed 3-6 months Limited business and industry management experience. Utilise resources provided through membership of Indian Institute of Professional Photographers. Identify and approach a business mentor. Completed Completed Small existing client base. Develop relationships with fashion institutes. 1-3 months No start-up capital available. Apply to Work and Income for start-up funding. Within 1 month Loss of income due to illness and not being able to work. Identify a preferred income protection insurance plan (to afford a replacement photographer and/or loss of income protection). Within 1 month Threats Contingency/Task Date Completed Established Fashion photographers in the Bangalore region. Continuously observe competitors (what they do and who they do it for) and pitch the business with a point of difference. Ongoing Sudden negative change in the economy, since this is a luxury item. Maintain relationships with fashion specialty show organizers. Maintain relationships with wedding and event organizers to supplement any downturn by undertaking other types of photography work. Ongoing Ongoing Increased competition in the regional market. Maintain relationships with fashion specialty show organizers to limit access to market for competitors. Ongoing 8. Legal Implications/Regulations The primary legal considerations are business legal structure, copyright (e.g. licensing), privacy (e.g. property and model approvals) and regulatory (e.g. tax). Contractual Process and Documentation Before each job starts it is important to clearly document the expectations (Services required) with each client. This will effectively be the contractual arrangement with the client for each project. To ensure all legal obligations are covered the following documentation has been sourced through other professionals and associations. Project brief. Estimate/Invoice template. Licenses and Order Confirmation Form. Terms and Conditions of Engagement. Talent and Property Release Form. Project Brief Briefs provide a job description for each project; they are created before any work starts outlining the details of the images required by the client. Copyright License Agreement Copyright is a form of protection for original works that photographers enjoy. It is afforded automatically to any work, immediately on its creation in fixed form, and the copyright on the work normally becomes the property of the creator. Copyright is part and parcel of the creation process. Real-Time Fashion photography retains the copyright of all images photographed (in order to control who can reproduce them) as outlined in the Terms and Conditions of Engagement. In addition this information will be printed on the back of each photograph. To determine client reproduction rights for each project a License and Order Confirmation Form will be prepared for the client to read and sign before the commencement of any work. This License outlines the agreed media, time period and territories where the client can use these images where the client needs to use the photographs for publication. This is expected to be the case for fashion show organizers. Estimate (Cost) Written estimates are developed in accordance to the brief and licensing requirements: à ¢Ã¢â€š ¬Ã‚ ¢How many photographs model need basic 16 photographs come under a basic portfolio and 25 photographs come under premium portfolio. à ¢Ã¢â€š ¬Ã‚ ¢Basic portfolio charged will be Rs 30000 and premium portfolio will be charged Rs 45000 include make-up artist and fashion stylist. Terms and Conditions The Terms and Conditions of Engagement are the standard provided for use by the Indian Institute of Professional Photographers. Release Forms Under the Privacy Act 1993 approval needs to be sought to photograph personal property and people. The Indian Institute has professionally prepared Model Release and Property Release forms available for photographers to use. Financial Regulations and Insurance I Will going to be GST (Goods and service taxes) registered and a tax agent has been consulted to assist Real-Time Fashion Photography set up processes in relation to GST and tax. Spreadsheets have been set up to manage sales and expenses on a monthly basis, and the business owner will complete the two monthly GST returns. The tax agent will complete annual business accounts. A current business account has been set up through National Bank. This account has linked accounts for tax and GST. The owners current insurance is through State, who offers a full line of insurance coverage, and photographic and IT equipment will be insured for its full value by adding a rider to the existing owners policy. Compliance Issues I had received an affirmative answer from Bangalore City Council that the business can operate from a residential neighborhood, since noise, traffic, and pollution are not factors to be considered in this type of business. Compliance to the following Acts needs to be adhered to at all times: Privacy Act 1993 Fair Trading Act 1986 Consumers Guarantees Act 1993 Unsolicited Goods Act 1975 Unsolicited Electronic Messages Act 2007 Health and Safety in Employment Act 2002 Real-Time Fashion Photography recognizes it has a responsibility for the health and safety of us, our colleagues and our customers. We have a policy of identifying hazards in the work environment and, wherever possible, of taking practical action to ensure that these hazards do not cause accidents and injury so as to protect employees and other form of any harm that could result from work activities. This policy recognizes that the handling of model presents health and safety issues for staff and customers. In order to manage the risk Real-Time Fashion Photography will implement a three step health and safety policy action plan. These three steps are The development of an effective system for managing hazards in the place of work. Ensuring that employees have all the practical information they need to carry out their work safely. The recording, reporting and investigating of all accidents or incidents in the place of work. We aim to implement this action to the best of their ability within the resources available. Progress in implementing the three step plan will be regularly reviewed. 9. Marketing Strategy Marketing Summary Real-Time Fashion Photography will use marketing databases to accurately target our market. Working closely with local fashion show organizations, Fashion institutes, we will place well-designed advertising material in these locations to illustrate our capabilities. Our fashion studio will maintain