A Study on Preferred Investment Avenues among HNI Investors in the city of Indore, M.P ,India

AbstractInvestment is the employment of funds on assets with the aim of earning income or capital appreciation. Investment is the most important things today. People are earning more, but they do not know where, when and how to invest it. A proper understanding of money, its value, the available avenues for investment, various financial institutions, the rate of return/risk etc., are essential to successfully manage one’s finance for achieving life’s goal. Through this study, an analysis has been made into preferred investment avenues among high net worth individuals in the city of Indore, Madhya Pradesh, India. Indore a hub for business classThe result s highlight that certain factors like education level, awareness about the current financial system, age of investors etc†¦ make significant impact while deciding the investment avenues. The study is based on personal interviews with high net worth individuals, using a structured questionnaire. Actually, the present study identifies the preferred investment avenues among the individual investors using self assessment test. The study is based on primary sources of data which are collected by distribution of a close ended questionnaire. The data will be analyzed using percentage and chi-square test with the help of statistical software. There are large numbers of investment opportunities available today. In this study it will be examined how the HNI investors managing their investments.INTRODUCTIONThe developing countries like India face the enormous task of finding sufficient capital in their development efforts. Most of these countries find it difficult to get out of the vicious circle of poverty of low income, low saving, low investment, low employment etc. With high capital output ratio, India needs very high rates of investments to make a leap forward in her efforts of attaining high levels of growth. Since the beginning of planning, the emphasis was on investment as the primary instruments of economic growth and increase in national income. In order to have production as per target, investment was considered the crucial  determinant and capital formation had to be supported by appropriate volume of saving.HNI INVESTORS:The respondents of this study consist only the people, those who are rich business class although precise classification of his wealth cannot be commented upon. It is observed that the business class having ample wealth invest differently considering high risk high return basis other than salaried class investors who are believed to invest in safe investment withDefinition of ‘High Net Worth Individual –A classification used by the financial services industry to denote an individual or a family with high net worth. Although there is no precise definition of how rich somebody must be to fit into this category, high net worth is generally quoted in terms of liquid assets over a certain figure. The exact amount differs by financial institut ion and region. The categorization is relevant because high net worth individuals generally qualify for separately managed investment accounts instead of regular mutual funds. HNIs are in high demand by private wealth managers. The more money a person has, the more work it takes to maintain and preserve those assets. These individuals generally demand (and can justify) personalized services in investment management, estate planning, tax planning etc.INVESTMENT OPTIONS AVAILABLEThere are a large number of investment instruments available today. To make our lives easier we would classify or group them. In India, numbers of investment avenues are available for the investors. Some of them are marketable and liquid while others are non marketable and some of them also highly risky while others are almost ris k less. The people has to choose Proper Avenue among them, depending upon his specific need, risk preference, and return expected Investment avenues can broadly categories under the following heads.1. Equity 2. FI Bonds 3. Corporate Debenture 4. Company Fixed 5. Bank Fixed 6. PPF 7. Life Insurance 8. Post Office-NSC 9. Gold/Sliver 10. Real Estate 11. Mutual Fund 12.Hedge fund & OthersOBJECTIVES:Primary objective 1. To study the various investment avenues and the investors risk preference towards it.Secondary objectives 2. To study the dependence/independence of the demographic factors of the investor and his/her risk tolerance..3. To analyze the investment pattern (i.e the type of financial instrument they and duration for which they prefer to invest) among the HNI investors.4. To find the problems being faced by the investors and type of risk considered by them.5. To know the mode of investments of the HNI respondent in various investment avenues.SCOPE OF THE STUDY:This study is focusing on the preference of Investments by HNI investors and it will be helpful to identify the better investment options in the market.Their level of awareness about the various asp ects of investment avenues available in the study area is considered.RATIONALE OF THE STUDY:Indian economy is growing significantly. It has various investment options. The study has been undertaken to analyze whether the investment avenues have gained importance among the people (or) not. This analysis on individual investors behavior is an attempt to know the profile of the investor and also know the characteristics of the investors so as to know their preference w.r.t their investment. The study also tries to explore the influence of demographic factors like age, income, gender on risk tolerance level of the investor.REVIEW OF LITERATURE:Avinash Kumar Singh (2006)The study entitled â€Å"Investment Pattern of People† has been undertaken with the objective, to analyze the investment pattern of people in Bangalore city and Bhubaneswar analysis of the study was undertaken with the help of survey conducted .After analysis and interpretation of data it is concluded that in Banga lore investors are more aware about various investment avenues & the risk associated with that. All the age groups give more important to invest in equity & except people those who are above 50 give important to insurance, fixed deposits and tax saving benefits. Generally those investors who are invested in equity, are personally follow the stock market frequently i.e. in daily basis. But those who are invested in mutual funds are watch stock market weekly or fortnightly. In Bangalore, investors are more aware about various investment avenues and the risk associated with that. But in Bhubaneswar, investors are more conservative in nature and they prefer to invest in those avenues where risk is less like bank deposits, small savings, post office savings etc.Sudalaimuthu and senthil kumar (2008)Mutual fund is the one of investment avenues the researcher research in this area about investors perception towards mutual fund investments has been analyzed effectively taking into account th e investors reference towards the mutual fund sector, scheme type, purchase of mutual fund units, level of risks undertaken by investors, source of information about the market value of the units, investors opinion on factors influenced to invest in mutual funds, the investors satisfaction level towards various motivating  factors, source of awareness of mutual fund schemes, types of plan held by the investors, awareness of risk category by investors, problems faced by mutual fund investors.Running a successful mutual fund requires complete understanding of the peculiarities of the Indian Stock Market and also the awareness of the small investor. The study has made an attempt to understand the financial behavior of mutual fund investors in connection with the scheme preference and selection. An important element in the success of a marketing strategy is the ability to fulfill investor expectation. The result of these studies through satisfactory on the investor’s perception about the mutual funds and the factors determining their investment decisions and preferences. The study will be useful to the mutual fund industry to understand the investor’s perception towards mutual funds investments and the study would also be informative to the investors.Sunil Gupta (2008)The investment pattern among different groups in Shimla had revealed a clear as well as a complex picture. The complex picture means that the people are not aware about the different investment avenues and they did not respond positively, probably it was difficult for them to understand the different avenues. The study showed that the more investors in the city prefer to deposit their surplus in banks, post offices, fixed deposits, saving accounts and different UTI schemes, etc. The attitude of the investors towards the securities in general was bleak, though service and professional class is going in for investment in shares, debentures and in different mutual fund schemes. As far as the investments are concerned, people put their surplus in banks, past offices and other government agencies. Most of the horticulturists in Shimla city who belong to Apple belt though being rich have a tendency of investing then surpluses in fixed deposits of banks, provident funds, Post Office savings, real estates, etc. for want of safety and suitability of returns.Manish Mittal and Vyas (2008)Investors have certain cognitive and emotional weaknesses which come in the way of their investment decisions. Over the p ast few years, behavioral finance researchers have scientifically shown that investors do not always act rationally. They have behavioral biases that lead to systematic errors in the way they process information for investment decision. Many researchers have tried to classify the investors on the basis of their relative risk taking capacity and the type of investment they make. Empirical evidence also suggests that factors such as age, income, education and marital stat us affect an individual's investment decision. This paper classifies Indian investors into different personality types and explores the relationship between various demographic factors and the investment personality exhibited by the investors.RESEARCH METHODOLOGY:This part explain the methodology used in this study. The methodology includes data and sources of data, sample size, area of the study and framework of analysis.The study is based on primary and secondary data. Primary data have been collected from 100 respondents through a structure questionnaire covering HNI investors of Indore, India. The secondary data have been collected from various books, magazine, journals, news papers and websites.The samples sizes of 100 respondents.The sampling technique followed in this study is probability sampling. Simple random techniques are used to select the respondent from the available database. In order to analyse the collected data, the following tools were used.Simple percentage anal ysis: it states the frequency and percentage of the customers profile, attitude and opinion regarding peoples.

Discovery and Hypothesis-based Science Approach Essay

The article, taken from the New York Times on March 03, 2009, tackles about the possible reasons for an increase in land fires in Indonesia. It was a claim that tried to defy the common thinking that drought is usually the cause of these fires, and showed several evidences to prove it. Upon reading the whole article and the study itself, one can easily conclude that the scientists used the discovery approach. The researchers began collecting data for the sole reason of gaining a better understanding on the possible causes of land fires. They did not formulate a hypothesis prior to data collection, nor did they think of draught as being the plausible cause. As a matter of fact, their first interpretation of their data is that low levels of rainfall correlates with increase chances of having wild fires. However, the results also show other significant data, on which the scientists draw their new conclusions from. It is then hypothesis based on the experiment already made. The researchers, in order to obtain just results, studied previous reports and cases of fires from the 1960’s to 2006. Aside from obtaining the obvious results regarding the low amount of rainfall, they found out a big difference on fire outbreak on Sumatra and Kalimantan – that even though these islands experience the same amount of rainfall, fires became common in Kalimantan only during the 1980s. Further data led to the researchers to hypothesize that the increase of population during the 1980s posed a great threat to the environment, for the government started to switch to large agri-business, which tends to abuse the land and cause accidental fires. Although the experiment did not use any control groups, I think that their case does not require one at all. The only possible question is whether the data they obtained were as accurate as possible. They mentioned that data obtained after the 1990’s were from fire-monitoring satellites, but those from the 1960s to the 1980s were merely from visibility records from airports. These can then be causes of discrepancies, since the method for data collection is not the same for all. Further more, what may be a fire signal for a fire-monitoring satellite may not be as such in the view from an airport. Aside from these, the report and the scientific approach seemed to be done well. They were able to obtain results that would significantly change man’s outlook on the environment. Article 2. Theory and Experiment Meet, and a New Form of Boron Is Found In this article, published in the New York Times last February 4, 2009, a great discovery was mentioned and brought up to the world. It is the isolated or creation of a new kind of boron. This element, as the article explains, have been studied by many scientist for around 200 years. Several boron compounds have come into existence, but it was only in 1909 where an almost pure, about 99%, boron was isolated. This then triggered the continuing study to locate other kinds of boron, such as what was done with carbon and hydrogen. In 2004, two researchers were able to produce a new kind of boron, one that is very stable and almost as hard as a diamond. It was done on super high pressure, and is very heat resistant and remains its hardness even after removing the pressure. Although the facts seem to state that this is a discovery science, the presence of the history and previous studies suggest this to be a hypothesis-based approach. They knew before hand that it is possible for boron to undergo different forms, and that the first three was not as stable as it should be. With this under their belt, they proceeded into testing new variables that would create the super-stable boron. And by altering the pressure, they were able to do that. The experiment was simply straight forward, done independently by the researchers only with no sponsors or any product endorsement. It was a simply experiment backed up by hypothetical information and theory from previous studies. The experiment was valid, since the product was also tested via several laboratory procedures to confirm its identity as boron. Computer-based crystallography analysis was also done to corroborate the stability of the element. As far as the experimental method and the results, the researchers were able to do a perfectly valid scientific experiment. Article 3. From Tons of Manure, a Growth Industry This final article, also from the New York Times newspaper, was published on March 1, 2009. It is about how two researchers were able to convert their farm cow manure into something more efficient and useful. The whole project took about 8 years, and a $72,000 grant from the Agricultural Business Cluster for the Cowpots to be born. These are flower seeding pots made directly from the manure of cows. Today, the industry has bloomed to its fullest, being able to produce several pots and attaining the interest of many costumers. As suggested by the facts and figures above, the researchers used a hypothesis-based scientific approach in this project. The mere fact that a grant was given means that a proposal was submitted to the grantor. It is then possible that within this proposal, the proponents of the project already outlined their possible hypothesis and even the methodology to attain answers to their problem. It is then a pre-planned idea, which began with a question and a hypothesis. Although the paper did not specify the exact procedure undertaken by the researchers in creating the Cowpots, the process seemed to be a combination of trial and error testing on the product’s ability to grow plants. It is then possible that a company, particularly those that are from or connected in any way to the Agricultural Business Cluster, could benefit from the project itself. But nothing was explicitly said on the paper. In addition to this, the study also used control groups, particularly in testing their pots. They mentioned of side-by-side comparison with normal seeding pots. These are entirely valid, and are in fact a great way to test the effectiveness of their product. Works Cited All articles were obtained from the New York Times Newspapers dated March 03, 2009, February 4, 2009 and March 1, 2009.

Batterer Treatment Programs

Domestic violence and especially battering has been identified as a form of aggression in the society for decades now. Even though, battering has been categorized as a criminal by the criminal justice system, its treatment has been handled differently from other forms of aggression. Over the past two decades, efforts have been applied to address the problem of wife battering.The development of treatment programs has been rapid which has subsequently increased batterer’s right to programming. Battering is inevitably associated with family violence and the general societal violence.This means that the existence of battering will continue unless the structures of power within the society is changed and thereby forbidding it. The change of the society alone is not enough to address the problem of battering. In addition to this change, individual involved in battering practices must also change (Mederos, 1999). The purpose of this paper is therefore to examine how the batterers can be changed. In particular, it aims at providing effective treatment programs that can be applied to address the problem of battering.The paper examines the roles that have been played by criminal justice in addressing battering problem and the existing treatment approaches that have been effectively applied to remedy this behavior. Criminal justice system intervention to battering There exist a number of criminal justice responses to battering. However, battering has continued for years due to the reluctance of the victims to report such cases to law enforcement agencies. There are a number of responses with regards to battering in the criminal justice realm which are triggered following reports of abuse.Arrest In the circumstance that it is proved beyond any reasonable doubt that an assault has been committed, then an arrest becomes mandatory. These mandatory arrests have significantly increased as reports of assault by victims of battering increase. However, many people have rais ed concerns about the effectiveness of arrests in reducing recidivism. It has been reported by certain research studies that arrests can only downgrade recidivism partly. This study has however been contracted arguing that effects of arrests on recidivism is limited.The debate over the effectiveness of arrests on recidivism will continue due to the lack of consensus on its impacts. In particular, the ineffectiveness of this approach has been witnessed in the slow prosecutions of batters, and thereby suggesting that these arrests are not adequately accompanied by convictions. Arrests without an efficient conviction do not deter future incidences of battering (Rusen, 1992). Prosecution The process of arrests should be followed subsequently with immediate prosecution after charges have been preferred against the batterer.In some cases, batterers may not be prosecuted but instead issued with restraining instructions. However, the effectiveness of arrests and prosecutions in deterring th e future occurrence of battering has been questioned by several researchers. Sufficient evidence has not been found to prove that prosecution of the offenders of battering reduces recidivism (Davis et al. , 1998). Sentencing Convicted batters are usually subjected to probations where they may be required to undergo treatment programs.It has been argued that it is impossible to distinguish the chances of recidivism with regards to cases which results to null prosecution, probation and incarceration. On the other hand, subjective battering to probation where they are subjected to treatment programs has been found to reduce recidivism. The criminal justice system has therefore been identified to be deficient in dealing with recidivism. There has been no significant relationship between recidivism and the prospect of arrests and punishment.This means that batters are not deterred from engaging in future battering by the possibility of being subjected to arrests and prosecution (Davis et al. , 1998). Approaches to batterers treatment programs There are several treatment programs available for batterers ranging from theoretical methods to forms of treatment. These programs include the Duluth approach and a program commonly referred to as New Leaf. Against this introduction, several theoretical approaches are examined together with fundamental models necessary for the treatment of batterers.These programs have not been proven to decisively reduce recidivism. However, they form a strong basis for examining the appropriate treatment mechanisms. The Duluth Model This was a community based response that was developed in Minnesota and comprised of several batterer detection and prevention groups within the society. This approach performed a coordinative role to the law enforcement agencies responsible for arrests, prosecution and batterer treatment programs. The batterers were subjected to either imprisonment or probation under stringent guidelines.The activities of the b atterer during this probation period were closely monitored. Such activities included attending to treatment programs. In addition, a close contact between the spouse of the batterer was maintained. In order to effectively respond to the problem of battering, prosecutorial agencies and the mental health institutions within the community closed worked as a unit. Thorough training was given to all the participants involved in the treatment process on batters under this model in order to equip them with adequate knowledge to understand what was involved in their work (Mederos, 1999).Under the Duluth model, the work of the male team leaders is not confined to interaction with the offenders of battering and their spouses. Part of their duty includes accounting for physical abuse by passing information to the relevant agencies. According to this model, abusive men usually use several obscure arguments to justify and legitimize their behavior. Treatment programs involve a number of video c lips and team dialogue with the intention of guiding the batterer in understanding the fundamental mythical beliefs regarding battering and thereby aid them in envisioning and defining non-abusive behaviors.The process of envisioning was accompanied with clear guidelines involving negotiations illustrating the basis of behavior in open relationships (Mederos, 1999). New Leaf program This program was developed to address the concerns of shelter women in Nova Scotia. The basis of this approach was that the shelter women needed assistance but the participation of shelter workers in this assistance was discouraged. As a result of this concern, males in the community intervened with the offenders of battering. This program involved and open group discussions which were organized weekly.The viewpoint of this program was that violence is feministic and a way of control. A thorough intake interview program was undertaken where the batterer was encouraged to change. The group leaders were in full control of the interview sessions and had an influential role in the lives of the batterers. The team leaders were constantly accessible to address the concerns of men and their spouses. Interventions included providing on-spot crisis resolution, visitation of offenders in prison, and unplanned visits to homes upon suspecting that there was danger of violence.However, these unannounced visits are not viewed as strange especially in the rural setting where it is the norm. This program had the advantage of intervening in high risk situations (Hanson & Whitman, 1995). Theoretical approaches The general approach to the treatment of batterer can classified into psychological, feminist and socio-cultural. The traditional intervention mechanisms for batterers focused mainly on the influence of psychological factors on violence. The problem of battering has a psychological dimension as abusive men usually blame their partners for the problems they are experiencing such as depression.T he depression can therefore lead them into substance abuse. Batterer treatment should therefore involve psychotherapeutic models. The socio-cultural method assumes that the battering is influenced by learned behavior. According to this approach, battering is learned within the society as there are inequalities in wealth control as well as societal structures which are biased in defining gender roles and therefore encourages leniency to battering. Treatment should therefore emphasize on unlearning where the batterers are encouraged to view violence as an unacceptable behavior within the society.In addition, the involvement of men in battering has been found to be as a result of attitude towards women. Intervention mechanisms should therefore include efforts in assisting batterers to change their attitudes. Feminist oriented batterer treatment strategies view battering as a social and political. According to this theory, battering is a consistent pattern of economic and sexual abuse. This approach therefore suggests that interventions to battering should address to root causes of battering. The feminist strategy in addition focuses on addressing the gender imbalances which are responsible for violent behavior (Dutton, 1998).Conclusion Developing batterer treatment programs within the society is quite challenging. However, there are fundamental factors that have effectively and efficiently contributed the treatment of batterers. Any approach to batterer treatment should be developed with adequate knowledge which is capable of achieving high standards of integrity. Reference: Davis, R. C. , Smith, B. E. , & Nickels, L. B. (1998). The deterrent effect of prosecuting domestic violence misdemeanors. Crime & Delinquency 44(3), 434-442. Dutton, D. G. (1998). The abusive personality: Violence and control in intimate relationships.New York: The Guilford Press. Hanson, R. K. & Whitman, R. (1995). A rural, community action model for the treatment of abusive men. Canadian J ournal of Community Mental Health 14(1), 49-59. Mederos, F. (1999). Batterer intervention programs: The past and future prospects. In M. F. Shepard & E. L. Pence, Coordinating community responses to domestic violence: Lessons from Duluth and beyond. Thousand Oaks, CA: Sage Publications. Rusen, M. F. (1992). Silencing their screams: The legal system’s response to male battering of women. Ottawa: National Association of Women and the Law.

Understanding how market equilibrium is maintained is essential for Research Proposal

Understanding how market equilibrium is maintained is essential for business managers - Research Proposal Example et equilibrium in a free market environment refers to the time when the quantity of goods supplied in the market balances the demand level in the market. An equilibrium market does not encounter the challenges of excess supply as well as excess demand. In an equilibrium market, buyers and sellers have expounded understanding of the prevailing prices of goods and services as well as the quality of goods and services on offer. Clear knowledge of the prevailing market trends expels any attempts by particular sellers to increase their prices above the market value. A good knowledge of how to maintain market equilibrium is essential for most managers when making decision on the quantity of goods top supply to the market. Insight understanding of market equilibrium also assists in decision making on the methods of production to be employed. Business managers ought to have deep understanding of the laws of demand and the determinants of demand. The law of demand states that demand of a particular commodity increases with increase in quality and decrease in price. Since the sole purpose of every business organization is to increase sales volume and make more profits, business managers have no option a part from operating as per the guidelines of the law of demand. In this regard, business managers need to set their operation to ensure production of high quality products that will pose a good competitive advantage in the market (Rothbard, 2006). Improving quality of goods produced by a business organization, promises good sales volume thereby lifting the profit margins of an organization. Similarly, reducing costs of goods on sale by a business organization attracts more demand for that particular product. When demand for a product increases, it is automatic that the particular product will record high and fast sales thus improving the profits due to that product. Demand also increases with increase in the household income. Tastes of particular products also affect the

Advertising and promotion Essay Example | Topics and Well Written Essays - 1500 words

Advertising and promotion - Essay Example Different brands are differentiated by the creation of unique brand logos, brand names, brand values and brand designs as well as typefaces. The first step towards development of a brand is the assessment of the business, how it operates, and the kind of messages to be sent to the consumers. The company should work out its product competencies, assess the existing and potential customer, and find out the feeling of the customers about the brands after which the company considers the development of a new brand within its current customer perception. This is then followed by putting all elements together and creation of the brand (Clifton, 2010). A good example is Reebok from Adidas Group and Jordan Brand from Nike Inc, both which are sports wear brands. Creation of the Reebok brand was inspired by its fitness and its commitment to consumers by empowering them to be fit for life. The success of this product is based on its courage to challenge convention in innovative products developm ent and in the creation of new markets. The Reebok brand comes with different designs, color and strap lines. Despite of these different designs, the brand is highly differentiated with features which persuade customers to love it and even come more loyal to the brand. The Reebok brand and the entire Adidas Group are highly focused on the environment as part of its Corporate Social Responsibility. The company has developed an effective strategy to manage environmental impacts and risks from its brands, and this has promoted its brands value. The creation of Jordan Brand from Nike Inc was inspired by the dynamic legacy, vision and the direct involvement of Michael Jordan. The brand comprises of apparel, footwear and accessories. The creation of the brand was based on the assessment of the existing and the potential customers and the definition of the core competencies of the company. Different brand design, color, different brand names under the shelter of Jordan Brand and strap line s are parts of the Jordan Brand and its different images. The different designs of the Jordan Brand attract different consumers depending on their needs. With the use of different designs, the company is able to persuade different customers to love and like the brand and even increase brand loyalty. The brand values of Jordan Brand are indicated by its Corporate Social Responsibility towards investing in the community in sectors like creativity, sport and education. The engagement of the Jordan Brand in the community has mad the brand to remain active in the market as it has promoted the brand value. Section B: Segmentation, Targeting and Positioning Market segmentation is the process of subdividing the larger market into segments with similar wants, needs and market characteristics. It involves the identification of market portion which are distinct from each other in order to better satisfy all the needs of the consumers. Market segmentation can be achieved by dividing the market geographically, demographically, in terms of their behavior and psychology (Cant, Strydom and Jooste, 2009). Targeting is the process of selecting a certain group in the market in which the company intends to focus its advertising efforts. Targeting can also refer to a group of like minded individuals who are inclined towards similar products and who

Observation Report. Observation of a group Essay

Observation Report. Observation of a group - Essay Example 1990; Little, 1990; Ponticell, 1995; Guskey, 1994: Dufour & Eaker, 1998; Guskey, 2000). The isolationist learning model, implying that students have to work on their own and not in collaboration with their peers, is imposed upon learners by teachers and educational institutions from the inception of their educational journey to its conclusion. Predicated on the assumption that collaboration could lead to collusion, the unfair distribution of work responsibilities and, learner dependence on others, culminating in his/her resignation of learning/studying responsibilities, the isolationist learning model tends to discourage cooperative learning (Hargreaves & Dawe. 1990; Little, 1990; Ponticell, 1995; Guskey, 1994: Dufour & Eaker, 1998; Guskey, 2000). To the extent that this assignment was about the formation of a study group and could only be completed through learner collaboration, it was a significant learning experience. Murphy and Lick (2001) maintain that group size is an important predictor of the capacity of a group to satisfy its objectives, insofar as size directly impinges upon manageability. As such, they advise that group sizes range between two to six members. As noted in the introductory paragraph, our group was comprised of four members, implying adherence to the aforementioned advise and, supposedly, an enhanced capacity for the quality completion of the set assignment. The assigned task was simple enough in itself. Group members were required to watch a film, following from which they were expected to collaborate on the composition of a report on that which the film had to say about group dynamics and on the completion of a number of other learning tasks. The film in question was Alive. The group assumed an online form, whereby collaboration was limited to group discussions via WebCT. While this was, in some ways, easier than

Communication skills Assignment Example | Topics and Well Written Essays - 250 words

Communication skills - Assignment Example Providing suggestions and providing encouragement during the conversations help to keep the conversation alive according to Jonathan. According to Decker communications blog, Kelly Decker, argues that humor plays a big role in keeping communication alive. She gives an example of the just concluded Russian Winter Olympics 2014. Despite concerns about Russian security, they managed to overcome the pressure by use of humor. These made them feel light and created a connection between them. Similarly Kelly suggest that when it comes to embarrassing situation, there is no need to fear but instead laugh or make a joke and it will certainly col down the tension (Decker). Kelly believes that making light of the situation and taking advantage of unplanned humor helps in connecting and redirecting attention where it belongs. Creating unexpected moments while communicating helps in surprising people and sticking them where you want them to

Poll week 6 dis Essay Example | Topics and Well Written Essays - 250 words

Poll week 6 dis - Essay Example Key among the causes of global financial crisis was the credit crunch in which US investors lost confidence in the value of sub-prime mortgages that in turn led to a liquidity crisis. The step by the US Federal Bank to inject large sum of capital into financial markets also contributed to this global crisis (â€Å"Crash course,† 2013). The crisis widened by September 2008, when the stock markets across the globe crashed, by that, becoming highly volatile. The event of September 14, 2008, when the Lehman Brothers collapsed, profoundly contributed to global financial crisis. The decision by Federal Reserve Chairpersons to dismiss the build-up of the housing bubble until 2007 from 202, contributed to this crisis. They never took the initiate to control the housing bubble or regulate mortgage companies. The Wall Street Executives’ decision to ignore policies focusing on internal risk management and their aim to increase revenues in a short time led to the crisis. In addition, the decision by US Presidents to hire former Wall Street lobbyists to serve as government policy makers, led to bailing out of banks without any regard to moral hazard. The decision risked the future of the national economy and shifted the burden to taxpayers. Timeline: Key events in financial crisis. (2013, September 9). Retrieved February 12, 2015, from

Neutrality of Money Essay Example | Topics and Well Written Essays - 2000 words

Neutrality of Money - Essay Example The major influence on the monetary economics and its central role in most of the developed economies has been from the work of Milton Friedman who actually first accepted the ideas of Keynesian economics however then went on to argue against them outlining the greater role of the equilibrium money supply and demand as the key variable for achieving the objectives of monetary policy in any economy. A central issue or debate in monetary economics however, rests with the neutrality of money i.e the increase in money supply results into an equivalent increase in wages and price level. The basic assumption behind the neutrality of money is that central bank potentially has no role in the economy as money does not tend to affect the real variables in the economy. Different views on the neutrality of money however, suggested that the changes in the nominal stock of money supply in the economy tend to affect the economy at least in the short run however, in long run money tend to behave as neutral. This paper will therefore attempt to explain and explore the notion of neutrality of money, the relevant debates on the neutrality of money and what are the different positions adapted by different schools of thoughts in macroeconomics. Neutrality of Money Neutrality of money is based on the assumption that the changes in the aggregate money supply in an economy can only affect the nominal variables. This therefore can result into the simultaneously increase in the prices as well as wages however, it will not affect the real output i.e. real GDP, level of unemployment or real price level in the economy. (Shaw, Greenaway, & McCrostie,1997). Classical economics suggested that the changes in the aggregate money supply in the economy is not going to change the aggregate demand for goods, services and technology in the economy. The term neutrality of money was originally coined by F Hayek indicating a market clearing interest rate which actually could not create booms and bursts under the market equilibrium conditions.( Saving, 1973). The later explanations of this concept therefore clearly established that the central bank does not have any role in the economy because changes in the money supply are not going to affect the economy and some of the nominal variables. This view was deeply held by the classical economists and was subsequently endorsed by the Keynesian model however, with the slight variations. The neutrality of money however is based on some fundamental assumptions such as the inflexibility of the prices, inelastic expectations as well as the absence of money illusion or distribution effects. Under these circumstances, it was generally agreed that the changes in the money supply can only create the changes in the price level as well as the wage rates without affecting the economy in real. Classical views on neutrality of money In order to understand the classical views on the neutrality of money, it is important to explore the idea of classic al dichotomy. According to the classical dichotomy, there are two types of variables i.e. real and nominal. Real variables are being measured based on the relative prices whereas the nominal variables are measured in monetary terms. Thus according to the classical economics, the changes in the money supply can only affect the nominal variables and will not affect the real variables. The above graph shows that with the rise in the money supply, aggregate demand (AD) curve makes a parallel shift to AD’. However, since output is considered at the full employment level, a rise in the money supply will not change the output level and the output level will be restored back to the same level Y. One of the implications of this rise in the money

Starhub analysis Essay Example for Free

Starhub analysis Essay Generic Characteristics of Telco Industry Market structure is either a: Monopoly Natural monopoly Oligopoly Dominated by a handful of big players High capital expenditure (capex) Absolute fixed cost is high But fixed cost per user is very low Telco may be very cash flow rich if capex is controlled Low operating expenditure (opex) Average cost per user is very, very, VERY low. Generic Characteristics of Telco Industry Lines of business Voice Traditional fixed lines overtaken by mobile Some households do not even have fixed lines i.e. M1 gives free fixed line with fibre plan Lucrative international dialing business is largely  gone Replaced by data i.e. Skype, VOIP etc. Generic Characteristics of Telco Industry Lines of business Data Escalating bandwidth demand (geometric growth) Some business models have failed as a result Unlimited mobile data plan replaced by tiered  pricing plans Reasonably priced unlimited fixed broadband/fibre  still available in some countries (not so in the US). Price differentiation between home and business data  plans Sub segment differentiation exists – gamers (low  latency) Telcos need data to make up for loss revenue in voice  business Generic Characteristics of Telco Industry Lines of business Pay TV Telcos offering pay TV not common for all  countries. Exists in Singapore. Always a balancing act between controlling cost  of content and charging viewers more Cost is increasing for developed countries  » Not so for developing countries†¦.. Video on-demand new business model Don’t pay for a whole channel, just pay for the TV program you want Mio TV vs Cable TV Generic Characteristics of Telco Industry Strategy for non-saturated markets Build out infrastructure and coverage while  controlling capex Gain market share by grabbing customers Especially in underserved markets Attempt to lock in existing customers Increase revenue by offering differentiated price  plans Tiered data plans (both mobile and fixed) Sell supplementary services Caller ID, low latency etc. Generic Characteristics of Telco Industry Strategy for mature and saturated markets Infrastructure and coverage largely built so there is little capex Control opex tightly Gain market share by poaching customers from  competitors Avoid price war Same as before Attempt to lock in existing customers Increase revenue by offering differentiated price plans Expand into overseas markets Any economies of scale? Industry Life Cycle Analysis Porter’s Five Forces Threat of New Entrants Bargaining Power of Suppliers Competitive Rivalry Within the Industry Threat of Substitutes Bargaining Power of Buyers Porter’s Five Forces Threat of New Entrants How easy is it for new players to enter the industry? What are the barriers to entry? Loyalty to existing brands Stickiness and incentives (e.g. loyalty points) High switching costs High capex and fixed opex costs Scarcity of resources Government restrictions and licensing Technology and intellectual property rights Porter’s Five Forces Power of Suppliers How much pressure can suppliers exert on the  business? Single or few suppliers (monopoly or oligopoly) Few or no substitutes Switching to new supplier is costly or time  consuming Supplier’s product is extremely important Supplier’s industry has higher profitability than  buyer’s industry Porter’s Five Forces Power of Buyers How much pressure can buyers exert on the  business? Single or few big buyers Purchases are in large volumes Switching to a different competitor is easy No stickiness or loyalty Buyer’s are price sensitive Company’s product is not important Porter’s Five Forces Availability of Substitutes How likely are customers to switch? Few or many similar products on the market? Switching cost is low and easy to do Disruptive technology Secular changes in consumption patterns and  lifestyles Porter’s Five Forces Competitive Rivalry How intense is the competition in the industry? High competition means low margins Number of competitors and size Any dominant company? Little differentiation between competitor’s  products and services Industry life cycle Young market means all firms grow as overall pie  expands Mature market means competitors grow by taking  market share from other companies Applying Porter’s Five Forces to Starhub Threat of New Entrants Government license is required and need to bid for  airwaves in government auction Is Singapore government issuing new telco licenses? What is the availability of airwaves? Auction prices cheap or costly? High capex and fixed cost†¦..but very low opex cost per user! Loyalty and stickness Some stickiness due to contract obligations (early  termination penalty) and incentives (handset upgrade  subsidies) Low switching costs if not under contract No cost and retain old mobile number Applying Porter’s Five Forces to Starhub Power of Suppliers Pressure from handset manufacturers Handset subsidy recouped by locking in  customers into contracts Big difference in price of handset without contract Apple able to negotiate for higher prices Telcos subsidize more. Costs passed down to  consumers. Pressure from content providers Cable TV pays HBO, Fox etc for content Special events like EPL cost much more Costs have been escalating lately†¦.. Applying Porter’s Five Forces to Starhub Power of Buyers Many retail customers (Starhub is no. 2 in SG) Extremely price sensitive Little brand loyalty and stickiness Individual customer have zero power Easy to switch out to competitor’s offerings Product is important but not tied to Starhub E.g. can get same handset and data plan from  competitors Some tradeoff between monthly price plan and data All telcos moving away from all-you-can-eat data plan Applying Porter’s Five Forces to Starhub Availability of Substitutes Handsets are not tied to Starhub Voice and data plans are also not unique to Starhub Cable TV content is differentiated Competes only with Singtel but not directly Different content and pricing content Special events like EPL are hotly contented Applying Porter’s Five Forces to Starhub Competitive Rivalry Extremely high competition Mature and saturated Singapore market Starhub grows by taking market share from Singtel and M1 Little differentiation between competitor’s  products and services But no direct price competition! Despite rivalry, industry margins relatively high Low opex cost per user Average revenue per user (ARPU) is growing Driven mainly from new tiered data plans Key Ratios for Telco Industry Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) Indicator of a company’s financial performance Churn Rate Actual rate at which customers leave for a  competitor Average Revenue Per User (ARPU) Takes into account revenue, capex and opex. As market matures, ARPU drops†¦. THE EQUITY RESEARCH PROCESS Purpose of the Equity Research Report To communicate to clients a single message How to allocate financial resources All other issues are secondary What are readers looking for? Ideas, ideas and ideas! Unique ideas are great but most of the time, ideas  generated could just be the same as everyone else Herd instinct is safe option! But no one will remember you†¦..! How to Make the Report Valuable? Use the KISS principle Investors have little time (and patience) Communicate clearly, concisely and get to the point. Have something to say Does it lead to an actionable idea? Report is an opportunity to standout and may lead to  other revenue generating activities or more face time  with the client. How to Make the Report Valuable? Issue the report in a timely fashion Giving investment opinion and advise too late is  pointless â€Å"Better late than never† fails in this case Treat your reader with respect Reader may be an investment professional herself Don’t patronize or condescend Tailor tone and language to target audience How to Make the Report Valuable? Be impartial and objective A research report is not an advertisement. Even if you like the company very much, not over  hype the company – leave that to the IR firms Know your stuff Be familiar with both the industry and company Be brave (but be prepared to face the firing squad) The best analysts are willing to take risks with their  opinions

Plan for Outsourcing Payroll

Plan for Outsourcing Payroll This report is aimed at the MD and all stakeholders referencing a proposal for a research project in relation to payroll being outsourced or to bring in house for B W Plant Hire and Sales Ltd A description of the project under research, analysis of good practice in relation to this issue. The identification of key stakeholders. Why the stakeholders would be interested or effected by the study. The key sources from the secondary research The evaluation of the contribution to the study To outline the present findings and inform the stakeholders to act on the results Overview of this research In 2005 there was only 35 people on the payroll, as the company has grown over the years there are now 75 employees, the payroll is outsourced to a local company at a cost of  £4500.00 per annum. In 2010 it was decided to outsource the payroll to save time and money, as there was only one person qualified in payroll. To take the responsibility from the only one person qualified it was decided any person in the accounts office could gather the weekly hours from depot and email to the outsource company. When the reports came back it was checked against the information sent. The correct reports were returned and processed by the office manager. The cost was lower than the company was paying for in house payroll. The software cost was  £1500.00 per annum, the time it took was 2 hours, so it was decided by the MD and the accountants to outsource payroll. In 2014 the payroll was moved to a different outsource at a cheaper rate, as the payroll has grown the cost is now  £5600.00 and growing. The administration of the payroll has become difficult to manage collating the average holiday pay by spreadsheet of the growing number of employees along with the pension information. Correct information is not communicated correctly i.e. national minimum wage increase, apprenticeship wage P32 reports not being sent to the company on time, basically a lack of communication. To start the process of developing a business case to recommend whether to outsource or bring payroll back in house the researcher will conduct a situational analysis to collect information the current system in use, how it works, any overlaps or shortfalls will be noted. When this is completed the investigation of the product ranges and functions available within the budget settings can this begin. The research of the investigation will perceive the benefits and gain evidence of the potential benefits to the company along with the potential costs and show the realistic advantages of outsourcing or in house payroll. There are 4 depots within the company, each depot has a clocking in machine. All weekly paid employees are to clocking and out each day. If an employee goes to a job from home they are to inform the depot manager and have their clock card signed, this is also checked by the tracker information on the vehicle. (It logs the time the vehicle was started) Every Monday morning each depot scans a copy of the clock cards to the Office Manager. As the depot managers, do not check the clock cards for anomalies it falls back on the Office manager to find the relevant information to complete the spreadsheet (appendix 1) As the spreadsheet is keyed it is prone to human error, the depot managers now must add the hours on the clock cards and sign them, they are then checked again by the office manager who then keys them into the spreadsheet. It is again checked by the finance manager. When all the above is complete it is then forwarded to the outsource company by email to collate. Manual tracking in this way is time consuming and prone to human error, resulting in over pay or underpay and time theft. There are deadlines to meet for the weekly payroll, if the correct information is not sent through, there is an element of pressure on the administrator to request the information on time. An image of the formulas used for recording the 12 week average   Ã‚   Good practice Employee costs are the single greatest expense of most Companies. Payroll one of the most important business functions. Payroll is unusually complex. It must be accurate. It must be efficient. It must comply with all the regulations imposed on it at local, national, and international levels. Employee morale and retention is so critical, payroll must do these things while keeping employees satisfied that they will receive their wage with minimal disruption of their workdays. No one-size-fits-all payroll solution exists that solves the very real challenges of managing payroll in todays fast-paced and highly regulated global environment. Establish Discipline and Manage Expectations Ensure that all stakeholders know what to expect from the payroll department. When do, timesheets need to be submitted? Who approves them? Who is notified if an employee goes on leave? When are the monies in the employee`s bank account. Enforce Accountability Make sure all stakeholders are appropriately accountable. Employees need to know what they are responsible for doing; managers likewise. For example, if an employee forgets to clock in the timecard at the beginning of the day, or clock out  Ãƒâ€šÃ‚   at the end of the day, who is responsible for making sure that employee is paid equitably for their time?   What are the consequences of failing to be accountable for meeting payrolls requirements? Who absorbs the cost of having to cut a check in midcycle? Alongside this accountability must come transparency-all steps in the process must be visible to the payroll staff. Perform Rigorous Balances and Audits The demand for accuracy in payroll is rigorous. Balancing, auditing, and segregating of duties is critical. These steps are to ensure minimized error rates, this can also help avoid off-cycle payments. There should be separate duties so the person entering timecard data is not the person who balances the number of timecards with the payments going out. (Due diligence) Then yet another person should audit the data to make sure it is correct. Rethink Control and Compliance in the Age of Outsourcing. Both the importance and complexity of payroll, many Companies are outsourcing either part or all the function. How much-or how little-is outsourced varies tremendously from company to company. The issue is control: how much of it does company need over its payroll data? When payroll is done in-house, its easy to integrate the data into other systems, to slice and dice it different ways, and otherwise make it work to provide value to the business. Given that Employee costs are the single greatest expense of most companies, having this kind of flexibility can be enormously helpful when making decisions about labouring sourcing, for example, deciding where and when to open a new depot. Advantages and disadvantages appendix 2 The researcher should be aware or data protection issues surrounding the implementation of outsourcing payroll. The principles of the Data Protection 1998 Act concerning the processing of personal data, the key rights that the Data Protection Act gives to data subjects, the consequences for companies of breaching the Data Protection Act and the key issues that arise in outsourcing transactions because of the Data Protection Acts requirements. The DPA gives comprehensive rights to data subjects in relation to their data. In relation to outsourcing transactions, the most important rights include: Access to personal data. Prevention of certain kinds of processing. By way of court order, rectification, blocking, deletion and destruction. These rights are generally enforceable against the outsourcing company as data controller rather than against the data processor. Where the outsourcing provider handles personal data on its clients behalf, the client as the data controller should include appropriate provisions in the outsourcing contract to ensure the outsourcing providers collaboration. This includes obligations to: Amend, transfer or delete the data as requested by the client. Notify the client of data access requests or complaints that it receives in relation to the clients data and provide the client with full co-operation in relation to such requests or complaints. The outsourcing company should also include an obligation on the data processor to be notified immediately if any of the following occur: Data gets accidentally deleted or corrupted. Data becomes lost. The outsourcing provider becomes aware that the data is processed unlawfully. This is to ensure that the client can take the necessary steps to address the issue, including notification to the ICO and/or the data subjects if required. (Andrew Dunlop and Uwe Nimscheck, Burges Salmon LLP) Stakeholder Analysis The stakeholders are anyone with an interest in the business. Stakeholders are individuals, groups or organisations that are affected by the activity of the business. Consideration for powerful and supportive stakeholders i.e. Payroll, HR and Finance with high levels of interest must be updated on this project. If the project has a good team and consists of highly regarded and motivated people who enjoy change on board it can then by brought to the attention of other stakeholders with enthusiasm this is turn can overcome obstructions from individuals when engaging in research. This adds trust and the belief, into the smooth running of the project, a bonus for when asking for funding.   For this research this is who is affected indirectly or directly. They include: Directors Managers Staff/Employee Payroll Finance Shareholders HMRC The researcher should be aware of the drivers for the introduction of the payroll outsourcing/ in house process. Operational Driver- cost effectiveness through time efficiency Logical Driver improved performance for demanding employees and managers. Transform Driver- key strategic drivers addressed in the company net profit During the analysis, it is essential that the stakeholders are fully informed or involved and understand the current process and the impact of change it will have on their role. The opportunities and threats for each stakeholder should be identified and managed during the process. Do they need to be informed or are they involved see appendix 3 The finance team are key stakeholders along with payroll and HR. finance need to be aware for budgeting and forecasting purposes and the costs involved evaluated correctly and if it is a viable project to implement. Payroll dept. will be collating the data regardless of payroll being outsourced or not, it must be carried out. HR need to be involved for change management. They understand the importance of strategy, culture and values, this would be advantageous throughout the planning and implementation process. The ethics must be considered when exchanging information especially when using emails, confidentially is a must, along with free and informed consent. Stakeholder should remain committed and not alienated from the project. Methods of research Literature defining Primary data This date should be Qualitative and Quantative For companies dealing with employees sensitive personal information for payroll purposes, whether internally or through a third party, it is essential to ensure the right processes and procedures are in place to safeguard the data. See appendix 4 Literature defining Secondary data Secondary data is the data that have been already collected by and readily available from other sources. Such data are cheaper and more quickly obtainable than the primary data and may be available when primary data cannot be obtained at all. The credibility of the method and data must be accessed these factors have a direct influence on the accuracy of the data. The data collected for this research paper is (The International Journal of Human Resource Management, Vol. 24, No. 4, February 2013, 704-720). (Payroll and HR outsourcing, I.J.Maise march 2001). (Payroll Outsourcing: A New Paradigm. Princy Thomas and P K Thomas) CIPD factsheet on HR outsourcing 2016) This is referenced at the bottom of the report Meetings with the payroll administrator and the project leader and stakeholders are to be held to discuss the current situation and any issues or ideas for improvement. These meetings are important to establish different perspectives and build commitment to the project. Within these meetings, the researcher can interview the relevant people for their input on the project, this making qualative data. Benchmarking similar size companies outsourcing payroll would also be benefitable. The researcher should investigate the benefits following the implementation of outsourcing payroll before during and after. The researcher should seek advice from providers for insight into current trends available updates and support with reports. All information obtained should be equal and fair to make a fair comparison. Information on Return on investment should also be carried out. If the company chooses to outsource / bring in house this information is extremely important for signing off the project and setting scoring matrix for use when having structured interviews with the providers. Present Findings Different stakeholders will benefit from data being presented in different ways. Directors need detailed reports with a full breakdown on the project including costs and anticipated outcomes. The business case report should be presented as follows Executive summary The key reasons for doing the project The current service provision The key future requirements A summary of the full list of options A summary of the options selection procedure and the options chosen for detailed examination A summary of the comparative findings and justification for the preferred option Highlights of the Implementation Plan A statement to seek approval. Analysis of requirements. The Strategic Overview and Context-Provide an overview of the service or project, including strategic aims, policies and outcomes. Project Objectives-State the policy objectives that the project is required to meet. The Current Service Provision-Analyse the status and the issues with the current service. Options selection and evaluation Evaluation Criteria-State criteria for evaluating the benefits of the various options. Define these criteria in advance of identifying the options to avoid undue influence of the options. Identifying Available Options-State the available options and describe how the various options were identified, what methodology was used and why some options were discarded early (if any). Initial Evaluation and Consolidation-Explain how the shortlisted options were chosen and what options were shortlisted. Detailed Options Analysis-Provide an overview of the evaluation methodology. Benefits Evaluation-Quantitative as well as qualitative benefits for each option should be considered. Cost Evaluation-Discuss the various costing elements that were evaluated. Details regarding the assumptions used and the outcome of the evaluation should be presented. Cost elements typically include the following: Non-recurrent Costs-Describe the non-recurrent costs (or one off cost to establish the option) elements, including the transition cost, and the basis for deriving these costs. Recurrent Costs-Provide a description of costs that will be incurred throughout the life of the project. These costs may either be fixed or variable. Opportunity Cost- Opportunity cost is the cost of the next best foregone alternative to deliver a given option. Whole of Life Costs-Describe and include costs that will be incurred over the life of the project to ensure that the assets originally procured can continue to be delivered to a level of service that provides the required outcomes. The whole of life costs may include activities such as replacement of assets, refurbishing or upgrading specific asset elements. Strengths and Weaknesses Evaluation-Discuss the strengths and weaknesses of the options considered. Risk Analysis-Describe the process used for risk identification, risk quantification as well as key observations from this aspect. Detail any findings in a risk register. Sensitivity Analysis-Discuss the findings of any sensitivity analysis carried out to determine how sensitive the outcome of the analysis is to variations in the assumptions. Implementation planning Describe how the chosen option will be delivered and rolled out and the various issues that must be considered. Project Structure and Governance-Detail how the project will be managed and governed. Governance-Describe the chosen governance structure for the project, include information on individuals or positions that are already identified. Project Management-Describe the project management methodologies that will be used in delivering the project, including where available, a high level description of the organisational structure (could be graphical). Implementation Detail-Detail the programme and transition arrangements. Implementation Timing-Include a high-level implementation programme. This could cover single-stage or multi-stage delivery of the project. Present as a Gantt chart. see appendix 8 Transition Planning-Describe the activities and temporary arrangements required during the transitional phase. Constraints, Assumptions, Sourcing and Funding Requirements-Document identified constraints and the major assumptions made which affect the implementation. Sourcing and Procurement Strategy-Describe the chosen sourcing models with reasons why they were chosen and how goods and services will be procured and tracked. Funding Requirements-Describe what funding requirements are required, the timing, source and application/approval arrangements of the funds. Approach to Manage Risk, Communications and Resources Risk Management-Describe the risk management plan with detailed responsibilities and actions. Communications Strategy-Describe the required communications strategy together with what to communicate, to whom and when. Staff Resources-Detail what are the key issues, particularly from a human resources management point of view. This could include both staffing requirements for the project together with any impact caused by the project such as staff re-deployment or reductions/increases. Technical Considerations Describe any technical considerations, which could range from ICT requirements to general or specific engineering requirements. Regulatory Impact Assessment / Business Impact Assessment-Any impact on any regulatory bodies or regulated or third party businesses which could be adversely or positively affected by the introduction of the project should be included. Legislative Considerations-Detail any legislative aspects to the project that could require legislative changes or issue of new guidelines/codes of practice. The Post Implementation Review Process Explain how and when reviews will be carried out to check that the expected benefits have been realised and delivered. Also, describe how to track the benefits and report on them versus the original analysis. Within a company, Payroll is the main area outsourced per Statistics see appendix 5 Large competition and challenging environment has forced companies to focus more on added value and revenue generating core business activities rather than the routine of regular HR practices i.e. payroll most companies outsource payroll for various reasons according including reducing coat and controlling them. according to (Princy Thomas and P K Thomas). According to a study conducted in the US by PMRs payroll outsourcing satisfaction survey, it was found that out of the 215 respondent companies, 119 companies outsource payroll processing to a third party for activities such as tax filing, human resources, time and attendance, benefits administration, workers compensation administration and unemployment compensation administration (PMR, 2003) (appendix 6) Large competition and challenging environment has forced companies to focus more on added value and revenue generating core business activities rather than the routine of regular HR practices i.e. payroll most companies outsource payroll for various reasons according including reducing coat and controlling them. according to (Princy Thomas and P K Thomas). Benchmarking As per the office of national statistic, the government outsource the payroll The following information has been provided in relation to Payroll; We use the Logica payroll system, provided by CGI IT UK Limited. At the last count, in January 2017, there were 3,967 employees supported on the above system. The contract value when last purchased was  £840,000. The contract renewal date is 31/05/2022 We do not provide individual employee contact names to preserve Commercial confidentiality. Please contact us at [emailprotected] Not applicable 16th Feb 2016 Its official. New Research on the outsourcing market 2016-2020 has revealed that payroll outsourcing is the fastest-growing segment of the global human resource outsourcing (HRO) market. The report from Infiniti Research see appendix 5 indicates that organisations are rapidly adopting payroll services to achieve cost reduction. The in-depth market analysis used inputs from industry experts and covers the market landscape and its growth prospects over the coming years, and findings revealed a growth in either an outsourced single process or the entire payroll service to enhance the existing function. Managing payroll in-house involves high costs. The research revealed that organisations that maintain an in-house team for tasks such as payroll, time and attendance, workforce administration, and benefits administration spend 20% more than organisations that outsource the same functions.(Global payroll outsourcing market 2016-2020   2016 by   Infiniti Research) Employee Confidentiality and Ethics Mellewigt et al. (2007) explained the importance of trust and its influence on outsourcing relationship. Protection of payroll information is very crucial. Strict internal control measures should be in place to prevent payroll confidentiality breaches, as it will have disastrous effects on any organization. The business case reports accurately the information and informs how the company will function weather in house payroll or outsourced payroll. The information should provide consistent information to all audiences. The strategy to support the business objectives need to be highlighted along with the direct cost of savings benefit. Indirect benefits are often intangible this must be explained in the report, with the relevant case studies and reports to add credibility. I.e. payroll errors have an impact on the trust and morale of the employee by being under/ overpaid this can lead employees feeling less engaged and less motivated along with feeling undervalued. It can have an impact on the payroll administrator by increasing the pressure of mistrust. Employees would benefit by receiving information in an informal way by having a presentation with their managers who would also distribute the newsletter with the information. The newsletter would contain the relevant information which effects the individual. The project manager would also be present at the presentation so as the employees can ask questions without feeling intimidated. The Report for the finance team would consist of figures for cashflow purposes. The information would outline the initial costs, terms of payment, operating expenses, return on investment and budget. The information is to conduct an affordability assessment and prepare for budget and cashflow forecasts. Payroll outsourcing is the fastest-growing segment of the global human resource outsourcing (HRO) market. Organizations are rapidly adopting payroll services to achieve cost reduction. They either outsource a single process or the entire services to enhance the existing function. Managing payroll in-house involves high costs. Organizations that maintain an in-house team for tasks such as payroll, time and attendance, workforce administration, and benefits administration spend 20% more than organizations that outsource the same functions.The majority of payroll outsourcing functions are related to finance and accounting (FA), human capital management (HCM), and shared service centers. The HR department uses outsourcing services more commonly than any other departments. Technavios analysts forecast the global payroll outsourcing market to grow at a CAGR of 4.4% during the period 2016-2020.Payroll outsourcing is the fastest-growing segment of the global human resource outsourcing (HRO) market. Organizations are rapidly adopting payroll services to achieve cost reduction. They either outsource a single process or the entire services to enhance the existing function. Managing payroll in-house involves high costs. Organizations that maintain an in-house team for tasks such as payroll, time and attendance, workforce administration, and benefits administration spend 20% more than organizations that outsource the same functions.The majority of payroll outsourcing functions are related to finance and accounting (FA), human capital management (HCM), and shared service centers. The HR department uses outsourcing services more commonly than any other departments. Technavios analysts forecast the global payroll outsourcing market to grow at a CAGR of 4.4% during the period 2016-2020. Payroll outsourcing is the fastest-growing segment of the global human resource outsourcing (HRO) market. Organizations are rapidly adopting payroll services to achieve cost reduction. They either outsource a single process or the entire services to enhance the existing function. Managing payroll in-house involves high costs. Organizations that maintain an in-house team for tasks such as payroll, time and attendance, workforce administration, and benefits administration spend 20% more than organizations that outsource the same functions.The majority of payroll outsourcing functions are related to finance and accounting (FA), human capital management (HCM), and shared service centers. The HR department uses outsourcing services more commonly than any other departments. Technavios analysts forecast the global payroll outsourcing market to grow at a CAGR of 4.4% during the period 2016-2020.Payroll outsourcing is the fastest-growing segment of the global human resource outsourcing (HRO) market. Organizations are rapidly adopting payroll services to achieve cost reduction. They either outsource a single process or the entire services to enhance the existing function. Managing payroll in-house involves high costs. Organizations that maintain an in-house team for tasks such as payroll, time and attendance, workforce administration, and benefits administration spend 20% more than organizations that outsource the same functions.The majority of payroll outsourcing functions are related to finance and accounting (FA), human capital management (HCM), and shared service centers. The HR department uses outsourcing services more commonly than any other departments. Technavios analysts forecast the global payroll outsourcing market to grow at a CAGR of 4.4% during the period 2016-2020. Payroll outsourcing is the fastest-growing segment of the global human resource outsourcing (HRO) market. Organizations are rapidly adopting payroll services to achieve cost reduction. They either outsource a single process or the entire services to enhance the existing function. Managing payroll in-house involves high costs. Organizations that maintain an in-house team for tasks such as payroll, time and attendance, workforce administration, and benefits administration spend 20% more than organizations that outsource the same functions.The majority of payroll outsourcing functions are related to finance and accounting (FA), human capital management (HCM), and shared service centers. The HR department uses outsourcing services more commonly than any other departments. Technavios analysts forecast the global payroll outsourcing market to grow at a CAGR of 4.4% during the period 2016-2020.The evaluation of the contribution to the study. The HR Function has been trying to reposition itself, the aim is to encourage the function to be more strategic and have less administration tasks and to be more of a business support function and a facilitator of change rather than a guardian of the traditional function of employee welfare. HR are becoming high profile contributors at a strategic level they are well intergraded with the business and demonstrating they are adding value. Although extensive research ha

What are Malaysias main imports and exports

What are Malaysias main imports and exports Illustrate the components of Malaysias imports and exports using a graph or chart and elaborate on it. Which countries are Malaysias main trading partners? Components of Malaysias exports According to Malaysias top 10 trade statistics for year 2009 by MATRADE, the major export products are divided into nine subcategories. Electrical and electronic products are the highest export products valued at RM22.68 billion which is equal to 41.5% of the total exports. While for palm oil, it takes off 6.3% of the total exports and it is equal to RM3.44 billion. Ranking number three for Malaysias export product is the liquefied natural gas which account for 6% or RM3.31 billion of total exports. Crude petroleum is account for 5.9% of total exports. The chemicals and chemical products hold 5.8% of the total exports are rank at number five of Malaysias total export. As for refined petroleum products, it represents 4.2% of Malaysias total export or RM2.29 billion. For machinery, appliances, and parts, these components are rank at number seven which take-up 3.5% or RM1.94 billion of total exports. Manufactures of metal hold 2.6% of total exports. The wood products hold 2.4% of total exports in Malaysia. Optical and scientific equipment are categorized as minority of Malaysia export as it stand for 2.3% or RM1.25 billion for total exports. The remaining percentages represent other export products in Malaysia. Components of Malaysias imports For component of Malaysias imports, there are three main categories of imports by end use. Intermediate goods are valued at 66.4% of total imports. For capital goods, it take-up 15.8% of total imports and for consumption goods, it is account for 7.3% of total imports. Other major import products of Malaysia import products include electrical and electronic products which are valued at 38.4% of total imports. Besides that, machinery, appliances, and parts are account for 8.6% and chemicals and chemical products take-up 8.4%. While for manufactures of metal, it is account for 5.2% of total imports. Furthermore, transport equipment account for 5.1%, refined petroleum products take-up 5%, and iron and steel products take-up 3.7% of total imports. For optical and scientific equipment, it has 3% of total imports and processed food take-up 1.7% of total imports. Crude petroleum is the minority of total imports where it takes up of 1.6% of total imports. The remaining percentages represent other import products in Malaysia. Malaysias Main Trading Partners Main trading partners of Malaysia include Peoples Republic of China which it accounted for 12.9%, Singapore hold 12.7%, and United States of America take-up 11.1% of total trade with Malaysia. Besides that, Japan is also trading partner for Malaysia where there is 11.0% total trade between both Japan and Malaysia. Another trade partner for Malaysia is Thailand. Thailand holds 5.7% total trade with Malaysia. On top of that, total trade between Malaysia and Republic of Korea take-up 4.2%. There are 4.1% trade between Malaysia and Indonesia. While for Hong Kong, Germany and Taiwan, those three countries have 4.0%, 3.4%, and 3.3% trading with Malaysia. The remaining percentages represent other countries which also have trade with Malaysia. Malaysias top 10 export markets are Singapore which taken up 14.0% of Malaysias total exports, Republic of China accounted for 12.2%, United States of America holds 11.0%, and Japan holds 9.8% of Malaysias total exports. For Thailand, Hong Kong Republic of Korea, and Australia, those countries respectively hold 5.4%, 5.2%, 3.8%, and 3.6% of total exports. As for Netherlands and Indonesia, both countries are the minority markets of Malaysias export markets as there are only 3.3% and 3.1%. The remaining percentages represent other export markets trade with Malaysia. Malaysias top 10 import origins are Republic of China (14.0%), Japan (12.5%), United States of America (11.2%), Singapore (11.1%), and Thailand (6.1%). While for other import markets, Indonesia account for 5.3%, Republic of Korea account for 4.6%, Taiwan holds 4.3%, and Germany also holds 4.2% of total imports with Malaysia. Hong Kong only holds 2.5% of imports with Malaysia. The remaining percentages represent other import markets trade with Malaysia. For the export components, we compare between the year 1989 and 2009. We use the commodity sections for comparison. The export for foods has increased from 3, 128.9 in year 1989 to 15, 800.9 in year 2009. As the population has increased and there are more and more countries that involved in open economy, this has lead to the increasing in the exports for food in Malaysia. For beverages and tobacco, from the table, it showed that it is increasing from RM80.2 million to 2, 482.3 million. Besides that, the crude materials and inedible goods also increased from RM12, 656.9 million to RM 13, 161.1 million. This does not show much increased. While for mineral fuels and lubricants, it has more significantly rose from year 1989 to 2009, which it rose from RM11, 023.6 million to 81, 685.7 million. From the table, we can see that there is 605% increase in animal and vegetable oils and fats. The growing rate of animal and vegetables oils and fats is more than 600 is logic as it growth for 20 years long. Furthermore for chemicals, there was significant increase which it increased from RM1, 234.2 million to RM33, 345.4 million between year 1989 and 2009. This is because nowadays, there are many companies which need chemical products for the daily operating. With globalization, export products will raise from one year to another as many companies have came into the industry. Increasing in quantity demanded will also follow by increasing in quantity supplied. That is why export of manufactured goods which includes tin has rose 764.1% for the past 20 years. While for machinery and transport equipment, it has grown from RM21, 982.9 million to RM257, 248.7 million. As the technology in Malaysia has improved, we export our technology to other least development countries. On top of that for miscellaneous manufactured articles, the data showed there is 826.12% increased from year 1989 until 2009. Miscellaneous transactions and commodities also increased from RM201.5 million in year 1989 to RM4, 607.3 million in year 2009. Compare using the same data, we now evaluate on import components. According to external trade data taken from Department of Statistics of Malaysia website, Malaysia import food has increased from year 1989 to 2009. The data shown in 1989, we import RM4, 613.9 million of food and in 2009, we import RM26, 770.3 million of food. For beverages and tobacco, our import has increased 769.7% within the 20 years. In average, it increased 38.48% per year. Besides that, crude materials and inedible has also increased 498.11% that is increased from RM 2, 488.9 million in year 1989 to RM 14, 886.3 million in year 2009. Averagely, it increased 24.91% per year. While for mineral fuels and lubricants, it increased from RM 2, 911.1 million to RM35, 686 million for this 20 years. Furthermore, animal and vegetable oils and fats rose from RM257.1 million to RM4, 977.6 million. As we can see from chemicals, it was RM5, 412.7 million in year 1989 and increased to RM39, 492.2 million in year 2009. Manufactured goods includes tin has rose 432.79% where in average; it increased 21.64% per year from 1989 until 2009. Machinery and transport equipment has the most changes where in 1989, Malaysia import RM29, 233.1 million and it increased to RM222, 578.8 million in 2009. As Malaysia is in developing, we need more high technology machines to increase our production. For miscellaneous manufactured articles, we have total of RM3, 257.5 million import in it and it increased to RM25, 735.7million in 2009. Besides that, miscellaneous transactions and commodities have increased from RM2, 522.8 million to RM9, 865.5 million. When we compare those import and export components for 20 years, overall, Malaysia still has positive net export. In 1989, Malaysia has RM6, 966.4 million. While in 2009, Malaysia also has positive net export with RM118, 354.9 million. What are the benefits of engaging in international trading? Are there disadvantages as well? International trade is known as the trade of goods, services, and capital across the international borders with not much difficulty. The international trade accounts for a good part of countrys gross domestic product. International trade system is growing and spreading quickly because of modern production techniques, advanced transportation system, outsourcing in term of manufacturing and services, and rapid industrialization. It is an essential resource of returns for a developing country. The advantages of international trading have been the most important drivers of development for the last half of 20th century. Countries with well-built international trade have turn out to be successful and have the authority to control the world economy. International trade has also turn into one of the main contributor to the decreasing of poverty. There are several benefits from international trade activities which are: Competitiveness. International trade could maintain cost competitiveness in domestic market where they increase effectiveness in productions, because countries will attempt to accept better ways of production to maintain cost as lowest as possible on order to remain competitive. Employment. It helps a lot in generate more employment through the development of newer industries to serve to the demands of various countries. As a result, international trade can reduce the unemployment rate. Inflation. Due to international trade, a new trend has been observed. Countries, all over the world are making all effort to adhere to monetary policies, which have zero inflation, thereby reducing restrictions in trade worldwide. Offer greater variety of goods for consumption. International trade offer users a lot of options which will not only get better in their quality of life but altogether it will help out the nation to develop. Increase sales and profit. International trade provides an opportunity to the countries to boost up their sales and automatically generate higher profit. Effective allocate and fully utilize the resources since countries are going to manufacture merchandises where they have gain in a comparative advantage. The effect is the waste in replication of resources can be prevented. It aids a lot in protecting the environment from any such of pollution and also gives countries with a superior marketing control. Disadvantage of International trade There are numerous disadvantages arising from international trade. First disadvantage is exhausted of Natural Resources. It means all natural resource will decrease over the time of international trade. It encourages a developing country to export all of its raw material early on to gain the return and become the developed company. Secondly is in term of dependence, import of low quality products increases dependence of foreign countries to the extent which lead to that country has no productive. This mean that businesses, workers and customers are tend to decline in the economies of our trading partners. The production between two countries will stop all together. As example during recession in the Malaysia leads to decreased demand for China exports, leading to diminishing in export profits, lower GDP, lower earnings, decrease in domestic demand and increase unemployment. Loss on agricultural countries in considered as one disadvantage of international trade. In international trade predominantly agricultural countries are loser to the maximum extent. This happen as the demand for agricultural  product is less elastic; there is hardly any increase in their demand despite fall in the price. International trade also create unemployment to country. It occurs when labour market is competitive where lead to higher wages and together decrease the employment. Trade unions can cause salary to go higher than equilibrium via the threat of strikes. However when the salary is over the equilibrium, it will cause a drop in employment because the company have to pay higher salary or wages and it become the cost to company. So they will decide to reduce the employment. Barriers in long distance trade and different language also create disadvantage of international trade. The long distance such it becomes hard to keep a close rapport linking the buyers and sellers. Every country has possesses its own language, this in because international trade engage in trade connecting two or more countries where there is variety of languages. The different in language creates problem in international trade. International trade involves preparation of number of documents which also creates difficult in the way of international trade. Some laws and regulations are imposing on export and import of products. International trade involves a great deal of risk on long distance, even though the risk has been covered by insurance but there is still involve the extra cost of production because the insurance cost is added to cost. Lastly is the disadvantage in pollution and other environmental problem. International trade can caused pollution and other ecological problems as corporations fail to take account of these costs in the price of merchandise in trying to fight with corporations operating under weaker environmental laws and legislation in some countries. As a company produce product, the pollution will always occurs and to produce the product they will get raw material from export country. Then as long as they have the part or material to use together with demand of good lead to increase in production and pollution. Define foreign direct investment (FDI). What are some of the policies and incentives provided by the local government to boost FDI in Malaysia? DEFINITION OF FOREIGN DIRECT INVESTMENT ( FDI ) FDI is a component of a countrys national financial account. It can be defined as an investment of foreign assets into a domestic structure. A parent business enterprise and its foreign affiliate are the two parties of this relationship. These two sides of entity, they both comprise a Multinational Company (MNC). An example of FDI is when American company taking a major stake in one of the company in china. The company in china is said to be the parent business enterprise whereas an American company is said to be the foreign affiliate for the investment. On the other word, FDI also exists when there is any joint venture between local and foreign company. Naza Kia Sdn Bhd can be stated as one of a joint venture company in Malaysia where the Kia Motors has made its investment to Naza Sdn Bhd. Instead of having an investment via joint venture, FDI also involves in participation in management, transfer of technologies and expertise. FDI can be classified into two types; Inward and Outward. The Inward FDI means that, when theres an investment of foreign capital in our local resources. There are some factors that determine the growth of Inward FDI. The factors are the tax breaks, the relaxation of existence regulations, loans of low rates of interest and the specific grants. On the other hand, the Outward FDI also can be stated as a direct investment abroad which means, our local capital is being invested to foreign resources. Basically, Outward FDI is dealing with the import and export of a country. MALAYSIA: FOREIGN DIRECT INVESTMENT POLICIES. THE FDI REGIME Basically, FDI policies are some set of a rules and regulations to regulate the investment made within those countries. In Malaysia, there is no specific laws that governed FDI activities. However, it is regulated that all foreign manufacturing activity must be licensed no matter what is the nature of the business it is. Malaysia only has Foreign Equity Guideline as a guideline any foreign investment. Until 1998, under the foreign equity guideline, the share limits were made on the performance and conditions set by the industrial policies of the time. For example, in the past years, the size of foreign equity share that allowed for investment in manufacturing sector is based on the share of the product exported. FDI projects that export at least 80% of production. However, the restriction was abolished through decision made by Ministry of Trade and Industry (MITI) when Malaysia desperately needs FDI after the economic crisis in 1998. Besides abandoning the export, Malaysia also has minimized the negative incentives such as: Nationalization and appropriation Double taxation Joint venture: requirements. Domestic employment: restrictions. Restriction on remittance of profit. Other than that, there is also some guidance in order to protect the foreign investment. Foreign investors are guaranteed against expropriation of property without compensation by virtue of Article 13 of the Federal Constitution. Due to the absence of the investment law, Malaysia has relied on the bilateral investment guarantee agreement or IGAs to: à ¢Ã¢â€š ¬Ã‚ ¢ Protect against nationalisation and expropriation à ¢Ã¢â€š ¬Ã‚ ¢ Ensure prompt and adequate compensation in the event of nationalisation or expropriation. à ¢Ã¢â€š ¬Ã‚ ¢ Provide free transfer of profits, capital and other fees. à ¢Ã¢â€š ¬Ã‚ ¢ Ensure settlement of investment disputes between private parties and Government under the Convention on the Settlement of Investment Disputes (ICSID) of which Malaysia has been a member since 1966 Investment Regime: Malaysia, from http://www.iisd.org/pdf/2004/investment_country_report_malaysia.pdf Other than IGAs, our country also has bilateral Avoidance of Double Taxation Agreements. For the employment restrictions, one must examine the restriction in a domestic context For example, Dobson (1998) wrote that while each foreign Banks subsidiary is limited to hiring two expatriate personnel, this restriction was in fact less stringent than that imposed on domestic banks. Furthermore, the restriction has been somewhat relaxed lately to allow for intra-corporate exchanges and short-term assignments after the economic crisis. On 17 June 2003, the Ministry of Industry and Trade (MITI) has established new guidelines on the employment of expatriate personnel that guarantee automatic approval of certain number of expatriate posts and extend the length of maximum employment for both executive and nonexecutive posts. Again this shows the extreme fluidity of the investment regime in Malaysia. Investment Regime: Malaysia, from http://www.iisd.org/pdf/2004/investment_country_report_malaysia.pdf Here, we can conclude that, even with the absence of specific laws regarding to the foreign investment. Malaysia Government still has some guidance to follow in related with Foreign Direct Investment. MITI plays an important role in determining the guidelines for Foreign Direct Investment. INVESTMENT AND INDUSTRIAL POLICIES By the absence of specific laws considering the investment, however Malaysia do has some policies on Investment and Industries. These policies can be referred as trade policies as well. Basically, Malaysia has begun to have the industrial policies since the 70s and 80s which was focusing on the export. However, this was resulting to the export performance to be the main conditionality for foreign equity ownership and incentives were based on investment project. However, after the years, incentives were based on the product and the activities in order to steer investment towards the 12- targeted industries in the First Malaysian Industrial Plan in the 1986 until 1995. Therefore, investment incentive has become more selective and will be depending on the priority sectors. Below are the lists of major incentives for investment: Pioneer Status Investment Tax Allowance Reinvestment Allowance Incentives for industrial adjustment Incentives to strengthen the Industrial Linkage Scheme: Incentives for both large companies and vendors) Incentives for export Incentives for promoting Malaysian Brand Name Training incentives: including the pre training incentives, Double deduction for expenses incurred for approval training, and Human Resource development fund. Infrastructure Allowance Incentives for Research and Development companies

The Perseverance of Odysseus Essay -- The Odyssey, by Homer

In the epic poem, The Odyssey, by Homer, Odysseus goes through many trials while trying to return home from the Trojan War. On his voyage home, he must visit the Land of the Dead, evade the Sirens, Scylla and Charybdis and when he does arrive home, participate in a tricky reunion with his wife, Penelope. All of these examples show that Odysseus has extreme determination and perseverance. Perseverance is an excellent quality that few possess which can spark achievement. In the â€Å"Land of the Dead†, Odysseus has to make a complicated potion to bring out the profit Teiresias. While waiting for Teiresias to come, he has to hold back the ghosts of the dead. While holding them back, he sees his dead mother. Odysseus did not know she was dead, and grieved, but still held her off to accomplish his obligations. While in the land of the dead, he sees his fallen shipmate, Elpenor. Elpenor tells him that he must backtrack back to Aeaea Island to bury his body and give him an honorable funeral. Odysseus promises to do this and he later does. The strength that he has to hold back ... The Perseverance of Odysseus Essay -- The Odyssey, by Homer In the epic poem, The Odyssey, by Homer, Odysseus goes through many trials while trying to return home from the Trojan War. On his voyage home, he must visit the Land of the Dead, evade the Sirens, Scylla and Charybdis and when he does arrive home, participate in a tricky reunion with his wife, Penelope. All of these examples show that Odysseus has extreme determination and perseverance. Perseverance is an excellent quality that few possess which can spark achievement. In the â€Å"Land of the Dead†, Odysseus has to make a complicated potion to bring out the profit Teiresias. While waiting for Teiresias to come, he has to hold back the ghosts of the dead. While holding them back, he sees his dead mother. Odysseus did not know she was dead, and grieved, but still held her off to accomplish his obligations. While in the land of the dead, he sees his fallen shipmate, Elpenor. Elpenor tells him that he must backtrack back to Aeaea Island to bury his body and give him an honorable funeral. Odysseus promises to do this and he later does. The strength that he has to hold back ...