Whats Needed in a Business Plan - 1620 Words

In this task I will be talking about what is included in a business plan, things such as the finance, location, market research, human resource policy and much more. Budget This is the amount of money that can be spent on expenditure over a set period of time. For my business I will set a budget for the first six months as I need to keep an eye on how much money is going out, too much outgoing can lead to the business going in debt. Having a budget for a set period of time will help me control my expenditure and will ensure me not over spending. Therefore it is vital to keep a budget. I would also be losing out on a lot of money if I spent without having taken note of how much cash I am spending. Having a budget is a good way of†¦show more content†¦- After I calculated each fixed cost for every expense I then added them all together and divided it by the contribution (per unit). By doing this I got the breakeven point. Breakeven = Fixed Cost ( £1770) =  £590 Outlet Contribution-Per Unit ( £3) Market Research * Primary Information that I already knew and had together were things such as the target market, about having an online business as most people these days shop online rather than go out to a store * Secondary Researches I did on secondary research helped me with many things, such as competitors, what price I should sell it, who would buy my product and to send out questionnaires. For example, I found that selling my product online and in other popular fashionable clothing shops would be so much better for me to do rather than just set up a store for socks. Location I am going to set my business online as I am only selling waterproof socks so there’s no need to waste money on setting up a store just to sell different styles of waterproof socks, also when I found from my secondary research that people would be buying them from online more. 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Measuring Performance Example

Essays on Measuring Performance Essay a. Gross Margin is defined as the percentage difference between Revenue and Cost of Sales. Therefore, Gross Margin for the year = (3679 – 2308) / 3679 * 100 = 37.266% Gross Margin for the year 2011 = (5331 – 3594) / 5331 * 100 = 32.583% Net Margin is defined as the percentage of net income of revenue. Therefore, Net Margin for the year 2010 = 91 / 3679 * 100 = 2.473% Net Margin for the year 2011 = 69 / 5331 * 100 = 1.294% Return on Capital Employed (ROTCE) is defined as the ratio of EBIT to the difference between Total Assets and Current Liabilities (Balance Sheet Ratios). i.e. ROTCE = EBIT / (Total Assets – Current Liabilities) * 100 For year 2010, EBIT = EBT + Finance costs = 111 + 7 = 118 Total Assets = 822 Current liabilities = 297 ROTCE = 118 / (822 – 297) * 100 = 22.476% For year 2011, EBIT = EBT + Finance costs = 86 + 15 = 101 Total Assets = 1333 Current liabilities = 581 ROTCE = 101 / (1333 – 581) * 100 = 13.431% On the basis of these numbers in the two years, it can be said that Fresh and Fruity Ltd. has more than decent gross margins in both the years. However, the net margins are quite low. This indicates that the company spends a huge amount on administration and distribution which affects the profitability. It is also observed that the revenue in 2011 is quite high as compared to 2010. However, the gross margins and net margins have reduced from 2010 to 2011. This implies that in generating greater sales, the company is losing on profitability. This could be due to an increase in cost of raw material, increase in distribution expenses or a decrease in the market selling price of its products. The return on capital employed is also significant in both years. However, there is a considerable drop in ROTCE from 2010 to 2011. This is partly due to a large increase in trade receivables and may partly be because of purchase of new long term assets. b. Trade receivables on 30 September, 2010 = 492 Trade receivables on 30 September, 2011 = 822 Average trade receivables for 2010 = (0 + 492) / 2 = 246 (assuming trade receivables at start of financial year 2010 as 0) Average trade receivables for 2011 = (492 + 822) / 2 = 657 The trade receivables’ settlement period is given by the ratio of average trade receivables to sales revenue (assuming all sales are in credit) Thus, Trade receivables’ settlement period in days for the year 2010 = 246 / 3679 * 365 = 24.41 days Trade receivables’ settlement period in days for the year 2011 = 657 / 5331 * 365 = 44.98 days Trade payables on 30 September, 2010 = 266 Trade payables on 30 September, 2011 = 486 Average trade payables for 2010 = (0 + 266) / 2 = 133 (assuming trade payables at start of financial year 2010 as 0) Average trade payables for 2011 = (266 + 486) / 2 = 376 The trade payables‘ settlement period is given by the ratio of average trade payables to cost of sales (assuming all purchases are in credit)(Mayasami 2009) Thus, Trade payables’ settlement period in days for the year 2010 = 133 / 2308 * 365 = 21.033 days Trade payables’ settlement period in days for the year 2011 = 376 / 3594 * 365 = 38.186 days On the basis of above calculations, a few interesting facts come into picture. It is seen that in 2010, the trade receivables’ payment period is greater than trade payables’ payment period but the difference is only about 3 days. In 2011, the equation still remains the same but the difference increases to about 6 days. Fresh and Fruity Ltd is, therefore, paying to its suppliers earlier than it is receiving from its customers. This implies that the working capital cycle is positive and the company has to depend upon a financial lender for its working capital. Secondly, the working capital position of the firm is deteriorating from 2010 to 2011 and therefore, it s financial costs in the form of interests have increased. c. With the proposed contract with the regional supermarket chain, the sales volume increase by 20% but the selling price for increased volume is 95% of the original selling price. Hence, net impact on sales revenue = 20% * .95 = 19% Therefore, new revenue = 1.19 * 5331 (Assuming no other volume growth in 2012) = 6343.89 New cost of sales = 1.2 * 3594 (Assuming that all cost of sales vary with the production volume) = 4312.8 Gross Margin = (6343.89 – 4312.8) / 6343.89 * 100 = 32.016% The gross margin due to the new proposed contract would hence decrease though the sales revenue increases. Thus, the profitability of the company is impacted. This is primarily due to the discount the company is planning to offer to the supermarket chain. Also, the supermarket chain is demanding a credit period of 60 days. This is very high as compared to the current trade receivables’ period of about 45 days. This would further deteriorate the working capital condition of the company and increase its financial costs. However, if the company sees long term benefits of this contract, it must try to offset these expenses by increasing its trade payables’ settlement period through supplier negotiations (Chartered Institute of Management Consultants). References ‘Improving Cash Flow through Credit Management’, Chartered Institute of Management Consultants Maysami,Ramin 2009, ‘Understanding and Controlling Cash Flow’, Financial Management Series, U.S. Small Business Administration ‘Balance Sheet Ratios’, Available on http://www.suu.edu/business/sbdc/pdf/balancesheetratios.pdf February 02, 2012

Origami and MRT free essay sample

Course Application #1: Origami and MRT 1. Define middle-range theories. Why are they considered to be useful in conducting nursing research? Give at least three examples of middle-range theories, discuss what these theories are all about and how these theories are useful in nursing practice and research. Middle-range theories are a set of related concepts and proposed relationships among the concepts that can be depicted in a model. Middle-range theories are more precise and only analyses a particular situation with a limited number of variables. They contain fewer concepts and adaptable to a wide range of practice and experience. Middle-range theories are basic, usable set of ideas less abstract than grand theory and more abstract than micro-range theory. Middle-range theories are progressed and advanced at the circle of practice and research to guide casual practice and intellectual research in nursing. Middle-range theories are sufficiently abstract to allow generalization, and yet satisfactorily grounded in reality so that they could be empirically verified. We will write a custom essay sample on Origami and MRT or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Middle-range theories present concepts and propositions at a lower level of abstraction and hold great promise for increasing theory-based research and nursing practice strategies.They may be developed inductively through qualitative research and practice observations or deductively through logical analysis and synthesis. Research based on middle-range theories can provide empirical evidence to guide practice as well as expanding knowledge bases in the nursing discipline as it seeks to define the abstract concepts and propositions in the theories. Middle-range theories stress the significance of considering the outcome of various manifestations/conditions happening together on patient’s performance and stimulate assessment of patient’s working outcomes. Symptom Management Theory by Humphreys et al. This middle-range theory describes how persons manage their symptoms in interaction with the environment. It maintains that health and illness affect symptom management, that improvement in symptoms extends beyond personal health, and that symptoms are subjective and experienced in clusters. Practice application occurs with patient-provider communication marked by understanding of the symptom experience and implementation of effective strategies. Research application includes measurement of symptom-specific outcomes and contextual factors related to the symptom under study.Unpleasant Symptoms Theory by Lenz and Pugh This middle-range theory maintains that there are commonalities across different symptoms experienced by persons in varied situations, and symptoms are subjective phenomena occurring in the family and community contexts. Practice application includes assessment of the symptom, symptom management and relief intervention. Research applications include gathering empirical measurements through scales and observations that capture the symptom experience. Cultural Marginality Theory by ChoiThis theory describes the experience of people who are caught between two cultures. Assumptions specific to the theory include across-cultural conflict recognition, marginal living and easing cultural tension. Practice applications include promoting parent-child engagement through cross-cultural understanding and being sensitive to the struggle of immigration. Research application includes activities aimed at developing an instrument to measure cultural marginality and studying mental health outcomes of persons living through across-culture conflict. 2.What are the similarities and/ or differences of Origami and Middle-range theories in terms of the process? (Please do the activity as instructed on the journal) Middle-range theories and origami in terms of process are similar in a sense that both follow specific steps towards reaching a desired outcome. Middle-range theories exemplify origami by utilizing similarity of intentional actions/strategies or deliberate folds in achieving desired results. An origami creator envisions an object or a representation of an object in mind as the desired outcome. The creator of the art form explores ays, through a series of folding techniques and then outlines the instructions into successfully molding a flat piece of paper into a readily identifiable object. Likewise, middle-range theories in nursing have specific goals/outcome(s) in mind related to care. Formulation of these middle-range theories is a product of careful observation and experimentation, through assessment, planning and evaluation of the series of implementations and interventions, and then outlining these series of steps/strategies for nurses to follow towards attainment or re-creation of a desired nursing outcome/goal.Both middle-range theories and origami entail careful planning and execution of deliberate actions specifical ly tailored towards achieving the desired outcome. The actions/strategies used in both origami and middle-range theories are detailed and well defined as to allow others to apply these steps/strategies in replicating the same results. Careful execution of the underlying steps for creating the desired art form in origami should conform to readily identifiable and acceptable form or representation of the desired object, just as the strategies/concepts in middle-range theories should conform to personal/professional experience or understanding of the desired nursing outcome. If and when the series of steps outlined in both origami and middle-range theories fail to produce the desired outcome, alternative steps/theories will be considered to achieve the desired outcome.Both origami and middle-range theories stress the importance of the series of steps/strategies, identifying, defining and detailing each step/strategy towards achieving the desired results. Take for instance Marion Goods’ theory on pain: a balance between analgesia and side effects and the origami art of creating a paper airplane. Marion Good’s theory aims at balancing analgesia and side effects for acute pain management whereas the author of the origami has a paper airplane in mind as an objective.Marion Goods suggests that to achieve a balance between analgesia and side effects, nurses must encourage patient participation through health teaching and goal setting, in using multimodal therapy through the use of potent pain medication plus pharmacological and non-pharmacological adjuvants with attentive care. Likewise, the author of the origami paper airplane outlines step-by-step instructions of folding paper at specific angles to achieve the readily identifiable form of a paper airplane. Nurses who utilize this theory as a guide must reflect on the concepts/propositions included therein and evaluate whether the nursing objective of acute pain management as proposed in the theory conforms with one’s personal/professional understanding and experience of the subject, as is the case in origami, where the author, after completion of the instructions must see whether the finished product looks like an airplane or is an acceptable/recognizable representation of an airplane.If otherwise, nurses and the author of origami must look at other theories/design pattern or formulate new ones to achieve the desired outcomes. 3. In your opinion, are nursing theories still relevant nowadays in guiding nursing practice despite the trend into evidenced-based nursing practice? Explain. Yes. Theory and practice goes hand in hand. If nursing theory does not drive the development of nursing, our profession will continue to develop in the footsteps of other disciplines. Firstly, nursing theories were developed primarily to show nursing as a profession in its own right. Developing our own body of knowledge e. g. nursing theories is the only way to promote nursing as a distinct discipline. Secondly, nursing theories were formulated to guide practice. Bridging the gap between theory and practice or academe and clinical practice should be promoted. Nursing theory gives us a sense of identity in promoting better patient care and recognition of the unique contributions nurses make in the healthcare service. Nursing theory, practice and nursing research are interrelated and complement each other. They allow prediction of the consequences of care and a range of patient responses. They stimulate growth and development of the nursing discipline. Nursing theory for me connotes knowledge bases, while practice connotes skills or the ability to put knowledge into application. The ability to integrate knowledge and skills paired with the right attitude for me is what makes for a competent nursing professional.

The Catcher In The Rye Essays (2239 words) - Literary Realism

The Catcher In The Rye The theme that the world has an outward appearance that seems fair and perfect but really they're as Holden put it "phonies." This is shown countless amount of times in his journey through New York and even before he left. The setting is in the 1950's; so I'm pretty sure that he didn't encounter any transvestites, lesbians, or anything that extreme of phoniest. Or on the other hand he could have liked them for being as Elmemson said a "none conformist." But I doubt it, he seemed to like kids more than anything. And his job, as he felt, was to protect them in their innocents; of which I will talk about in my second theme. The first example that stands out in my mind is the scene with Stradlater in the "can." If you remember Stradlater was getting ready for his other date while Holden watched him. "Stradlater was a secret slob" in public he always looked good and got all the girls but in fact he was a slob. His razor that made him look so good was "rusty as hell and full on lather and hair and crap." This proves that he is a slob to "never clean it or anything." If you think about it that's even worst than Old Ackley. At least Ackley knew that he had a problem, that he need to do something about his face; but Stradlater thought that he was a great guy. He actually thought that there was nothing wrong with never washing his razor. I think that what mad, Holden so made Stradlater was perpetrating in other word being "phony" every time he went out all GQ after using that filthy razor. Another instance is when he calls that girl in New York, Faith Cavendish, that Eddie Birdsell had brought to a dance at Princeton. Anyway he called her and she almost went off until Holden drooped Eddie's name. Then all of a sudden "she was getting friendly as hell." The same person said "if you think I enjoy bein' woke up in the middle-" was "getting an english accent all of a sudden." I think Holden caught her with her fa?ade down. When she first picked up the phone she was mad as anybody else would be in her shoes. But as soon as she processed "Eddie Birdsell from Princeton" she became so amicable. She most of thought that a friend of Eddie, from Princeton, most have been rich or at lest well off. Faith was all ready to hook up with him for a date until she asked "Where ya callin' from? Where ya at now, anyways?" And "in a phone booth" was the wrong answer. When he said that she new he had no money and from that point on she had no time to meet up any more. This is a good example of the phoniest that Holden will talk about all through book. Oh and one I almost missed it is a little before the conversation with Faith it is a very important event. When J.D. Salinger had Holden look about of the window I think it was a big simile, of which I think about more in theme number 3, of the theme of the book. I'm sure Holden didn't ride all the way to New York to pick a run down hotel. So I take it when he drove up it probably looked good on the outside. He even "took it off [referring to the red hunting hat] before I checked inI didn't want to look like a screwball or something." So we can assume it was nice, or at lest on the outside. Salinger even throw Holden foreshadowed a little in the line "I didn't know then that the goddam hotel was full of perverts and morons." The first guy he saw out his room window "took out all these women's clothes, and put them on." Then he started walking around like a women, smoking a cigarette, and looking in the mirror. And now I guest I have to take back my sentence about transvestites in the opening paragraph. Second he saw a couple squiring water and "they