New Venture Financing Case

`New venture financing at its core is securing the necessary funding to launch a new business. There are a variety of options for the entrepreneur to secure these funds, and finding the right financing in critical to starting any new business. Investors into a new venture will want to know that there is an acceptable risk/reward threshold for their capital. Therefore, it is important that the entrepreneur alleviate investor anxiety about the riskiness of the venture.There are several ways of an entrepreneur can portray the investment so that it is perceived to have less risk to the investor’s capital: an entrepreneur can stake his/her own capital in the venture to show the investor that he has a â€Å"horse in the race† as well, he/she may promise to pay back the money invested at an earlier stage in business growth rather than a later stage where the business’ financial status is less certain, or he/she may give investors some form of control in the company thro ugh specified terms, loan covenants, or participation in management.There are many entrepreneurs, however, who receive no outside funding for their start-up businesses. â€Å"Bootstrapping,† as it’s called, is when an entrepreneur uses his/her own savings, credit, personal loans, or equity available from a home or car mortgage. This is ideal if the entrepreneur has enough capital to start the business, as they retain 100% of ownership and control. Unfortunately, not all entrepreneurs can fund their new venture without outside help.When starting a new venture, it can be problematic to be burdened with too many liabilities that must be repaid, instead of reinvesting the funds back into the business to stimulate growth. For this reason, equity financing may be a more prudent path. There is a sector of specialized firms that will provide â€Å"seed capital† for a new venture, when the entrepreneur does not have enough capital to begin the new venture on their own.Th is capital is meant to get an idea off the ground and move it from past the â€Å"idea stage,† until the business has advanced to the stage where it can generate sufficient revenues itself. In this regard, they are considered to be â€Å"angels,† although this term can apply to individual investors as well as firms. â€Å"Angels† are typically those who have an excess of capital and contribute capital to new ventures. Angels may want forms of convertible debt, ownership equity, or management positions or control. To approach anyone for financing it is important to have a business plan.All legal issues regarding stakes and/or ownership should be clearly stated in any business plan, and it may be advantageous to supply a formal offering memorandum to investors. This will legally protect both principals in additional to providing the investors with a well-formulated blueprint for the formation and growth of the new venture. Venture Capital is another source of fina ncing. Venture capital is a pool of equity capital that is professionally managed. Wealth individuals can invest in these funds as limited partners, but usually they are comprised of pension funds and endowments.The general partners of the venture capital firm manage the funds, and are compensated with a fee as well as a percentage of the gains on the investments of the funds. Target returns on the investment in a venture capital fund are between 50% – 60%, although they can be very volatile. Venture capital usually does not take place during the start-up stage of the business cycle; usually is in the 2nd round financing stage. When exploring financing options and potential investors, it is paramount to guard any proprietary material associated with the new venture.Proprietary material is also known as a trade secret, which can be almost anything: a pattern, formula, design, process, or information. Whatever the proprietary information, it gives the entrepreneur a potential c ompetitive advantage over competitors, and is usually not generally know by the public. Protecting proprietary material with confidentiality agreements or non-disclosure agreements is advisable to any entrepreneur. As stated previously, there are different options when selecting financing. Equity ecurities are instruments like common stock and preferred stock, ownership shares in a firm, which derive value from the value of the firm, and are also a claim on a firm’s assets after all senior claims have been satisfied in the event of liquidation. Debt securities can take many forms: bonds, debentures, notes, etc. These debt securities receive higher priority than equity securities, and have the added benefit to the hold of receiving interest payments as well as the principal payment at the maturity of the security. Some debt instruments can be converted into equity securities depending on their construction.Venture capital firms will often â€Å"syndicate† a large invest ment: they attempt to entice other firms to take a stake in the investment. This allows venture capital firms to invest in numerous firms, diversifying their portfolios, and decreasing risk. Another form of financing is â€Å"cash flow financing. † Cash flow financing is typically funded by commercial banks, although it can also be obtained from institutional lenders (insurance firms or pension funds), loan institutions, or finance companies, and is a form of debt financing.These can either be short-term, long-term, or line-of-credit obligations. Asset-based financing may be more appealing to a start-up business than cash flow financing because start-ups lack an earnings history. In this form of financing, the firm gives the financier a first lien on assets: assets that can be used for these liens include accounts receivable, inventory, equipment, real estate, personally secured loans, letter-of-credit financing, and government secured loans.Venture leasing, a hybrid financin g option, occurs when a piece of equipment must be rented by a new venture for a fixed term. However, since the machine will have depreciated in value by the end of this fixed term, and if the new venture fails, the renter will have a harder time renting a depreciated piece of equipment, venture leasors will want to be able to purchase equity shares of the venture at the current price of financing at some date in the future, in exchange for the additional risk they take in leasing to the new venture.Of course, once your new venture has begun receiving revenues, financing may be internally generated. Profits can be reinvested into the venture to continue growth. Sources of internally generated financing include retained earnings, credit from suppliers, accounts receivable, a reduction in working capital, and the sale of assets. And while these sources can be a beneficial way of raising capital without the help of outside investors, the venture must be wary of becoming too â€Å"lean ,† or not having any wiggle room financially.There are a variety of investment possibilities to entrepreneurs in a new venture. Choosing the right one, or combination of financing methods, is critical to the growth and maturity of any venture. Throughout the business life-cycle, there are different stages at which these different financing methods will be helpful, or even necessary, and knowing which one best suits the venture is a vital part of prosperity.

Law Social Engineering

LAW AS A TOOL FOR SOCIAL ENGINEERING IN INDIA KARANDEEP MAKKAR1 Roscoe Pound introduced the doctrine of â€Å"Social Engineering† which aims at building an efficient structure of society which would result in the satisfaction of maximum of wants with the minimum of friction and waste. It involved the rebalancing of competing interests. This article analyses the role of legislations, constitutional provisions and court judgements in the process of social engineering in India.Introduction India, known around the world as a â€Å"cradle of civilizations† has always been a queer mixture of various faiths, religions, a place where the cultures of the world meet, constituting an environment of composite culture. It was for this reason that Pandit Jawaharlal Nehru called India the â€Å"the museum of world religions†. Indeed, the very paradigmatic setting of India has been pluralist all along. Even today the land mass called India, spread over 3. 8 million sq km of area inhabited by a thousand million plus population, with every imaginable kind of a weather pattern from minus 40 degree Celsius in greater Himalayan region to 50 degree Celsius temperature in the deserts of Rajasthan and temperate weather of coastal regions, 20 official languages written in 16 different scripts, around 2000 dialects, 16 well demarcated agro-climatic zones2 and almost all religions of the world well and adequately represented, presents a mind boggling variety and plurality.And all this has a bearing on India’s liberal, secular, republican, politico-legal system. Under these conditions, it becomes very necessary to have a mechanism for balancing the interests of the individuals, society and the state. India, after independence, adopted the ideal of a socialistic pattern of society and has formulated programmes of social welfare in various spheres. The aim is to establish a social order which would eradicate exploitation, secure equal opportunities for all citize ns, ensure that they share just obligations and enjoy social security.The means adopted in achieving these ideals these ideals are peaceful and democratic. The goal is sought to be achieved mainly through the enactment of suitable laws. It is generally recognised that legislation does create healthy conditions for such changes. It is in these circumstances that law comes into play to act as an agency balancing conflicting interests and becomes a tool for social engineering. This article analyses the 1 2 Student, 3rd Year, B. A. LL. B (Hons. ), Hidayatullah National Law University, Raipur. Data teken from http://en. ikipedia. org/wiki/India accessed on 31-03-2010 role of legislations, constitutional provisions and court judgements in the process of social engineering in India. The Concept of Social Engineering Roscoe Pound was one of the greatest leaders of sociological school of jurisprudence. He introduced the doctrine of â€Å"Social Engineering† which aims at building an e fficient structure of society which would result in the satisfaction of maximum of wants with the minimum of friction and waste. It involved the rebalancing of competing interests.Roscoe Pound defined the legal order by reference to the end of law: â€Å"It [the legal order] may well be thought of as a task or as a great series of tasks of social en-gineering; as an elimination of friction and precluding of waste, so far as possible, in the sa-tisfaction of infinite human desires out of a relatively finite store of the material goods of ex-istence. â€Å"3 Interests†, â€Å"desires†, â€Å"claims†, â€Å"wants† – for the most part the words are used interchangeably in Pound's writings, although â€Å"interests† sometimes serves as the inclusive term. He writes, â€Å"For the purpose of understanding the law of today I am content with a picture of satisfying as much of the whole body of human wants as we may with the least sacrifice. I am c ontent to think of law as a social institution to satisfy social wants–the claims and demands involved in the existence of civilized society–by giving effect to as much as we may with the least sacrifice, so far as such wants may be satisfied or such claims given effect by an ordering of human conduct through politically organized society.For present purposes I am content to see in legal history the record of a continually wider recognizing and satisfying of human wants or claims or desires through social control; a more embracing and more effective securing of social interests; a continually more complete and effective elimination of waste and precluding of friction in human enjoyment of the goods of existence– in short, a continually more efficacious social engineering. †5 Like the engineer, the jurist constructs, creates – but not out of thin air.Like the engineer, he must work with resistive materials, without which, however, he could not build at all; and always there are adverse conditions imposed upon his activity. Friction and waste, represented by a sacrifice of interests which might be secured, must be overcome. The task is one for human activity: though requiring methodical care, there is nevertheless nothing static about it. Technique and materials may be improved. Jurist 3 4 5 Pound, Roscoe, â€Å"Interpretations of Legal History†, Harvard University Press, 1946, At P. 160. Pound, Roscoe, â€Å"The Spirit of the Common Law†, Transaction Publishers, 1999, At P. 96. Pound, Roscoe, â€Å"An Introduction To The Philosophy Of Law†, Transaction Publishers, 1999, at p. 20. must work on, must create an ever greater, ever more serviceable structure. The engineering analogy stands out as both graphic and timely. 6 According to Roscoe Pound, law is an instrument of social engineering. The task of jurists is to find out those factors which would help in the development of culture conducive to the maximisa tion of satisfaction of wants. These factors are principles as Jural Postulates. 7 Technique of Social Engineering:Pound advocated the technique of Social Engineering for the purpose of balancing the conflicting interest of the society, in order to achieve maximum satisfaction of maximum want of the individuals. He advocated that the study of law should be supplemented by social aspects so that it may become more attractive and useful. Spencer and Bentham also in a way directly and indirectly applied law to men in society. Judicial Application: Pound suggested that judicial application of law should take into account the following factors: (a) The factual study of social effects of the administration of law. b) Social investigations as preliminaries to legislation. (c) The means by which the law can be made more effective should be devised. (d) A study of legal and philosophical aspect of judicial method. (e) Sociological study of Legal History. (f) The achievement of the purpose of law. (g) Possibilities of jurisprudence of interests and reasonable solution of the individual case. SOCIAL LEGISLATION AS TOOL FOR SOCIAL ENGINEERING When unequal distribution of wealth exists in a society or when social justice is denied to certain sections of the people, laws are enacted to bring about equilibrium.These laws may be designated under â€Å"social legislation†. Social legislation tries to remove inequalities and to benefit the whole community rather than a few individuals. It adjusts 6 7 Douglas, Some Functional Aspects of Bankruptcy (1932) 41 YALE L. J. 329, 331. Dr. Laxmikanth, â€Å"Law and social transformation†, at pg. 6 supplements and sometime replaces the existing legal system. In other words, in addition to ameliorating the social conditions of people, it bridges the gulf that exists between the existing law at the requirements of the society at a given time. Social legislation, in this sense has a special significance. It is different from o rdinary types of legislation in as much as it reflects, the legislative policy of establishing social justice on humanistic and egalitarian principles. The primary functions of social legislations are summed up by Hogan and Inni in following words: (1) To provide for the orderly regulation of social relationship. (2) To provide for the welfare and security of all individuals in the social unit. 9 Social legislation, therefore, aims at establishing social equality in society.The needs of society are adjusted and those who are responsible for creating imbalances or inequalities in society are prevented from doing so. It is however, necessary that all social legislation must be accompanied by â€Å"social preparedness† – by effective propaganda to educate the people about its objects and to convince them of the ultimate utility of a particular legislative measure aimed at promoting the common good and fostering the common welfare. It is only then that the law can give dir ection, form and continuity to social change. The effectiveness of social legislation also depends on attitude of judiciary.Under the traditional approach, the judges usually paid greater heed to the letter of the law and the mischief that was to be removed by the law. Social conditions and economic trend were not supposed to influence him in arriving at a certain decision. But this attitude appears to have changed in recent times. The judge appears to be conscious of the felt necessities of the time. He feels that his duty is not only to point out mistakes of legislature or remove unjustifiable hardships caused by law but also to assist in the social and economic progress of our times. 10 LEGISLATIONS ENACTED FOR THE PURPOSE OF SOCIAL ENGINEERING 9 10 Balbir Sahay Sinha, Law and social change in India, , 1983, Deep and Deep Publications, pg. 25 Hogan and Inni, â€Å"American Social Legislations†, Harper and Brothers, New York, at p. 4. Supra Note 7. The introduction of certa in major changes in the Hindu family law is a very important instance of social reconstruction in India in recent times. This has been brought about by such Acts, as The Hindu Marriage Act, 1955, the Hindu Minority and Guardianship Act, 1956, and the Hindu Adoption and Maintenance Act, 1956. The provisions of these Acts are calculated to generate effective means of social control.For instance,Section 12 of the Act prohibits polygamy which was very prevalent in the society before the enactment of the Act. This can be viewed as a measure to balance the interests of the husband and wife as also a means for social control. The socio-economic revolution that has resulted from new land legislations is best seen in rural India. The land reform measures, adopted by the State Governments in the wake of Constitutional amendments, are meant to mitigate the hardships of tenants, strengthen and safeguard their tenancy rights and confer a new status on them.This type of legislation can be rightly regarded as one neutralising the socio-economic disharmony in the rural population. The pitiable conditions and large-scale poverty of the rural population produced a sense of frustration in our peasantry endangering the entire society. The grievances of the agriculturists are being gradually removed by the land reform projects which would ultimately bring about a degree of social satisfaction and create a spirit of co-operation in the masses. 11 The new labour laws are aimed at battering the conditions of the workers in trade and industry.These laws have had an impact on social structure to a large extent. The individual worker’s interest has been given great importance. The freedom of contract between the employer and the employee has been regulated in the interest of the worker and attempt has been made to assure to every worker condition of work ensuring a decent standard of life. A number of important enactments as, for example, The Industrial Disputes Act, 1947, The Mi nimum Wages Act, 1948, The Plantation Labour Act, 1951, The Maternity Benefit Act, 1961 have been designed to curb, if not eradicate, the urge to exploit workers.Thus, they promote the welfare of workers and balance interests of employees and employers hence resulting in social engineering. CONSTITUTIONAL PROVISIONS PROMOTING SOCIAL HARMONY The glaring inequality of different types more particularly based on sex and caste prevailed in Indian society until the pre-independence days, despite continuous efforts by the state, reformers and missionaries to control and eradicate them. The immediate 11 Supra note 7, at pg. 27 task for the Indian people and constitution makers was to establish an egalitarian society.Therefore, in the preamble of the constitution it was declared that â€Å"we, THE PEOPLE OF INDIA, having solemnly resolved to constitute India into a SOVEREIGN SOCIALIST SECULAR DEMOCRATIC REPUBLIC and to secure to all its citizens: JUSTICE, social, economic and political; LIB ERTY of thought, expression, belief, faith and worship; EQUALITY of status and of opportunity; and to promote among them all FRATERNITY assuring the dignity of the individual and the unity and integrity of the nation. 2 The constitutional provisions relating to secularism aim at bringing about integration and harmony in the society. Article 15 of the Constitution forbids a classification on the ground only of religion, race, caste, sex, place of birth or any of them, subject to specified exceptions and Article 16 makes a like provision in connection with public employment with the addition of â€Å"descent† and â€Å"residence† as forbidden grounds of classification. The Constitution gives the right to all persons to profess freely, practise and propagate religion subject to public rder, morality and to other provisions of the Constitution on Fundamental Rights. Thus, in India no religion is given a preferential status or accorded any special privilege and the Constitu tional provisions aim that no person should suffer any disability because of his religion. In order to achieve social progress and political advancement, the practice of untouchability has been outlawed by Article 17 of the Constitution and by the Untouchability Offences Act, 1955 enacted in pursuance of Article 17. These are clear indications to end social equality.The provisions referred to are aimed at effectively balancing the various conflicting interests in the society and form the basis of what Roscoe Pound termed as â€Å"social engineering†. A STUDY OF CASE LAWS While Sociological jurists emphasize on the balancing of the conflicting interests of the individual, society and the public through the process which Roscoe Pound terms as the process of ‘social engineering’, the same has also been witnessed though the action of the Supreme Court when, in Vellore Citizen’s Welfare Forum v.The Union of India13 which is known as the Tanneries’ case t he Supreme Court observed as â€Å"The Constitutional and statutory provisions protect a person’s right to fresh air, clean water and pollution-free environment, but the source of the right is the inalienable common 12 Bal Gobind, Kashyap, Reformative law and social justice in Indian society, 1995, Regency Publications, New Delhi, at p. 8 13 AIR 1999 SC 2715 law right of clean environment†. The Court further observed, â€Å"Our legal system having been founded on the British Common Law, the right of a person to pollution-free environment is part of the basic jurisprudence of the land†.Thus the Court gave priority of public interest over individual interest. In B. Venkatramma v. State of Madras14, the passing of a communal order by the Government allotting certain vacant posts in government services in fixed proportions to Muslims, Christians, Harijans, Backward Hindus, Hindus, Non-Brahmin Hindus, and Brahmins was taken to be a violation of Article 16(1) of the c onstitution by the Supreme Court. CONCLUSION Rapid change in Indian social life is the result of many factors.The influence of public opinion, the lessons of history, and the examples of progress achieved in other countries, the impact of ideas from the West- all have played a part. The legislative activity in India after independence has been directed, by and large, towards the creation of a new social order. The gap between pressure of changed patterns and the slowly evolving new norms of social life was sought to be plugged by many important laws. To make social engineering through the use of law, the importance of other factors like economic development needs to be realised.Law cannot, by itself play a vital role unless it is accompanied with economic development. Public opinion also plays an important role. There should be awareness amongst the various sections of the society before legislation is enacted for its successful enforcement. The purpose of social legislation like ot her types of legislations is not fulfilled if its enforcement is lax. If laws are evaded by people, this undermines the purpose of legislation, breeds corruption and puts the administrative machinery under heavy strain. This may ultimately lead to disintegration of the society.Hence, rather than passing a number of legislations in this area without making adequate provisions for their enforcement, it is better to have fewer social laws containing clear-cut provisions for effective enforcement. The conflicts in modern Indian society are largely due to the fact that social life has not been properly adjusted to the forces of present age. In order to harmonize our relations in the society, it is absolutely essential that changes in law should be preconditioned by the existing public opinion in the society.In other words, the changes in 14 AIR 1964 SC 572 law should be only in those directions and to that extent which the people in general aspire in the society. Mere super-imposition an d direct adoption of foreign models in their entirely original form can create disruption and disorder in the society. We should retain our own social values and include foreign ideals in such a manner that the latter are fully assimilated and become a part of our social system.

An Apple a Day Keeps the Doctor Away Essay

The idiom â€Å"to kill two birds with one stone† is used to describe achieving two objectives at the same time. The term references a common hunting tool, the slingshot; slingshots continue to be used to hunt small birds, and at one point, they were very common. As you might imagine, killing one bird with a stone requires an excellent aim and control over the slingshot; to kill two could be considered even more difficult, a task for only the most skilled of hunters. This idiom dates from the 1600s, and it was initially used in a somewhat pejorative way, to describe a philosopher’s attempt to prove two arguments with a single solution. The implication was that killing two birds at one time is extremely challenging and unlikely, and that the philosopher’s attempt should be viewed with extreme suspicion. The philosopher had obviously failed to satisfy his critics, who suggested that his attempt was about as successful as a try to knock out two birds with a single s tone. Over time, â€Å"to kill two birds with one stone† has come to be used more generally to accomplishing two goals at once, and the negative connotations have largely vanished. In fact, people are encouraged to think of ways to accomplish it, thereby living much more efficient lives. This is especially true in the business world, where employers are constantly on the hunt for ways to cut costs and improve efficiency, so something that kills two birds with one stone could be quite useful. For example, someone could be flying to a city on business, and decide to visit a family member while he or she is in the city, or a company might have an employee pick up a shipment somewhere while he or she is already there. From the point of view of both the employee and the company, this can be convenient, because the employee will be reimbursed for mileage and other expenses, while the company can save a trip. Some people feel that this term is a bit negative, given the association with hunting and death, and they prefer more positive twists on the saying. Several organizations have even sponsored contests to come up with a new and more animal-friendly version of â€Å"to kill two birds with one stone.† However, the idea has become so entrenched in many societies that it is unlikely to fade from usage anytime soon, negative or not.

Sunny Phone Essay Example | Topics and Well Written Essays - 2500 words

Sunny Phone - Essay Example Sunny Phone has all the advanced features of latest available mobile phones with attractive designs. Its uniqueness is that its battery can be charged using solar power. Australian mobile manufacturing industry is highly competitive and matured as most of the market leaders are present in this market. With favorable economic condition, the Australian telecommunication industry is growing and there are significant opportunities for Green-Tech. To penetrate the market, Green-Tech’s marketing strategy will focus on enhancement of consumers’ value and its core generic strategy will be differentiation focused strategy. For controlling and planning, Green-Tech has developed management and financial plans. There will be expert management teams for each department. As per the market analysis, the sales forecast for Sunny Phone is determined 3600 units during first year, and using this figure, the financial planning has been projected. Initial start up cost for Green-Tech is aro und AUD 24 million and the company is expected to earn AUD 97200 in its first operating year. 2. Introduction In the post-modern age of trade and business, starting a new venture is very challenging task as prevailing market is very competitive. Besides, the risks associated with a new venture are always higher than existing business. Therefore, it is very necessary to develop a business plan forecasting entire business activities before starting the venture and business plan is also helpful in convincing investors for generating necessary funds (Peterson, Jaret and Schenck, p.13). This paper will attempt to present a business plan based on an innovative product. There will be brief descriptions regarding the overview of company, product, market analysis, major strength & weaknesses, management plan and financial plan. This paper will also offer a set of plausible recommendations for successful product launch. 3. Company Overview and Its Mission, Vision and Objectives ‘Green-T ech Private Ltd’ is privately held company which is engaged in manufacturing an innovative mobile phone and it will be owned by a number of shareholders who will make significant financial contributions. The primary aim of this company is to manufacture and offer eco-friendly mobile phones. The company has realized the importance of practising green business in reducing the negative impact of business activity. The fundamental business value and ethics of Green-Tech involve value maximization of its stakeholders by developing growth oriented organisational and work culture. The company will operate in Australian market by setting up its manufacturing plant, research and development center and a corporate office. The location of plants, office and R&D center will be selected by as per the market viabilities. The shareholders will be legal owners and responsible for managing and controlling business activities. In order to develop a growth orientated business structure and stra tegies, company’s mission, vision and specific objectives are developed and given below Mission statement: Green-Tech is committed to offer products which will have least negative impact on environment and society. Therefore, the company’s mission statement is to offer eco-friendly products that will enhance the value of consumers and their environment by using innovative technology. Vision Statement: Green-Tec

MARKETING RESEARCH PROJECT in HRM topic COMPANSATION AND BENEFITS Assignment

MARKETING RESEARCH PROJECT in HRM topic COMPANSATION AND BENEFITS COWAY COMPANY SINGAPORE - Assignment Example It is the plan that defines how, when and where from the information is to be collected and how it should be analyzed. Research design is different from the concept of Research data collection (nyu.edu, n.d.). Research Design mainly discusses which sources have been used in conducting the study. Various Research designs are- 1. Historical Research Design  - It uses primary and secondary sources. Lots of qualitative data sources are required in this case. 2. Case and Field Research Design  Ã¢â‚¬â€œ It is useful when limited information is available for a study. Observation is a great tool for such studies. 3. Descriptive or Survey Research Design  - It attempts to explain and describe the circumstances by applying many questionnaires and subjects to fully portray a phenomenon (dissertation-statistics.com, n.d.). 4. Causal Comparative Research Design  - This research design attempts to investigate the cause and effect relationship where causes already exist and cannot be contro lled. 5. Experimental Research Design  - This design is most suitable in controlled settings such as laboratories. Here causes can be manipulated to arrive at desired effect. For our research we have decided to employ the survey research design. It is considered that a questionnaire will be extremely useful in drawing information from a large number of people as well as from limited number of participants. Also the data obtained will be highly reliable. 3.2 The Overall Research It can be said that for the purpose of successful completion of the research based assignment, conduction of significant research is very important. The reason behind the significance can be associated with the fact that the market research provides some of the highly relevant data, which can be processed and analyzed using various tools and techniques, so that it empowers the researcher to find out the required information that is available in the form of hidden and highly complicated data (Kolb, 2008, p. 12) While discussing on the same note, it can also be brought into attention that the conduction of the market research exercise helps to bring into focus the insights, views and opinions that are provided by a wide range of sources, which essentially comprises of collaborators, customers, employees, as well as associated and related stakeholders (McDaniel and Gates, 1995, p. 5). It can be said that while proceeding with the concept of market research, a proper format is expected to be followed by the researcher. The most important part of the market research exercise is to maintain relevance with the main research question. The reason behind it is the fact that it will help in the process of framing the entire structure and nature of the market research exercise and will also increase the effectiveness of its results in a great way. 3.3 How to conduct the literature research The literature review deals with three main issues which are- 1. Study of compensation and benefits- This st udy can be best carried out with the help of sources like books, internet, business journals, newspapers and research papers. This issue will develop our understanding about the compensation framework of a company. 2. Significance of compensation and benefits in the overall performance management of a company- The researcher can learn the significance of com

Write an essay by solving the last three question

Write an by solving the last three question - Essay Example found that Wonderful Stores (WS) committed breach of contract when it cancelled its advertised â€Å"Wonderful January sale Bargains Galore; Rolex Watches  £80†¦Ã¢â‚¬  thus to settle the issue, the following questions must be resolved on appeal: (1) whether the advertisement was an invitation to treat and not an offer; (2) assuming that it was an offer, it was a bilateral offer and not a unilateral offer; (3) assuming further that it was a unilateral offer, no obligation arise as Simon has not accepted the offer at the time it was revoked on Saturday evening’s advertisement. Would the appeal of WS prosper? The appeal will not prosper. Advertisements are legitimate business strategies implemented by sellers to induce buyers to patronize its products however advertisements are mere invitations to treat. To ripen into a contract, bids must first be made to commence negotiation then the seller will consider the bid and thereafter accept it if deemed appropriate. Thus, the stages to constitute a valid contract must be complied with—initial offer, negotiation and acceptance. The indication of a price tag in an advertisement or even put on display on the shop window is of no moment. It does not qualify as a valid offer of sale but simply an invitation to treat which is not demandable until an offer was accepted. This is anchored on the fact that the store that advertised the product may not have sufficient inventory to sell to all those who would want to procure or avail of the products. In the case of WS, it stated in its advertisement that sale shall be made on a â€Å"first come, first served† basis thus the eventuality that it would run out of inventory is not present. The consumers are put on notice that the products are limited thus those interested to buy were encouraged to fall in line—sale would be made until supply last. WS has made an offer thereby creating a valid and enforceable contract. Therefore WS is obliged to sell to those who have complied with the

Writing Assignment Essay Example | Topics and Well Written Essays - 250 words - 1

Writing Assignment - Essay Example ever, I would not deny that some of the insults were actually humorous especially as most of them are heavy on personification such as comparing one to a shard-borne pignut, brazen-faced scullian, swag-bellied boar-pig and etc. The use of these words propels one to draw a picture at the back of one’s mind, comparing it to describe the unpleasantness of a person. Also, exaggeration is an element that adds to its humor. Familiarity with the meaning of the words used is also very important to realize the message Shakespeare wanted to convey especially because most words used are too deep. However, as I have tried finding out the meaning of these words, they have the same meanings today as in the last 400+ years ago, where the only difference is that some words today just have more implications or meanings today. Being unfamiliar about the meanings hinder one to fully grasp the intended effect because they would not be able to use their imagination to digest the whole thought of

Employablility skills Assignment Example | Topics and Well Written Essays - 2000 words

Employablility skills - Assignment Example I adhere to rules and regulations that are highly stipulated in the interworking of the banking industry, an ostensibly capitalistic system with stringent rules that are not stringently enforced (Beard, 2007, p.74). I was a summer analyst at [Quator capital] last year where I prepared books of accounts, analyzed clients presentations and built financial models for leveraged buyouts and credit reviews. I participated in deal calls as a team member in Financial Institutions Group and gained an understanding of how the needs of a client are best met on time. Presently as the organizing secretary of Brighton College Student Association, I oversee financial transactions for over 100 student organizations and a $600,000 budget, challenges which draw on my attention to details and ability to keep manifold priorities in balance (Teed & Bhattacharya, 2002, p.128). I am enticed by the practice of your firm of bringing together a hierarchy of assorted team members with diverse opportunities that bring in a distinction through creativity in solving problems that emerge in daily operations in the firm, a chance that embraces my best capability in critical thinking (Beard, 2007, p.79). Your investment firm is committed to service projects like mentoring at-risk learners and food serving in the local shelters, an advance that is appealing to me to be given my volunteer experience with our local Big Sisters program. The market global position and the client-centered philosophy of the firm combined with the opportunity to contribute to the community make your firm a thrilling place to build my career (Thorpe & Dulgarian, 2008, p.74). This opportunity will enable me to gain experience in professional industry while undertaking my undergraduate degree as it will grant me with both a competitive edge in the marketplace as well as an opportunity to exper ience the

Advertisement Analysis Essay Example | Topics and Well Written Essays - 500 words - 2

Advertisement Analysis - Essay Example Various advertisement strategies appeal differently to the consumer. It is important to choose an advertisement strategy that will go in line with the product being advertised. A good example of an advertisement strategy is the one that make use of the Rhetorical Triangle to best appeal to the consumers. The three components of Rhetorical Triangle that are out into consideration in regards to appeals made by the advertiser  include Ethos, Pathos, and Logos. In order to appeal to a large pool of clientele, the message intended for advertisement has to meet specific specifications. The message has to originate from the sender pass through suitable channel to the intended audiences. When considering advertising, it is essential to take into consideration the product being advertised. This is because a different products appeal to the consumer’s in diverse ways. The reason behind applying strategies that will result to bringing more clients is for the enterprise to attain big ma rket share coupled with evading stiff competition. This is especially from the same players whereby due to employee retention predicament may lead moving of employees to the already established corporation. The application of Rhetorical Triangle is significant because it enhance advertisement appeal to the intended consumer. Hausman, Daniel M., and Brynn Welch. ""Debate: To Nudge or Not to Nudge*."Debate: To Nudge or Not to Nudge. N.p., n.d. Web. 23 Mar. 2014.

Management Accounting and the Environment Essay

Management Accounting and the Environment - Essay Example There are different approaches which help to identify the future goals of Charity organizations and detect the threats. Accountants' examination of Charity organizations gives useful insights into the nature of strategy itself. Management accountancy in Charity organizations is normally associated with more rational approaches to reporting. Perhaps its greatest contribution lies in providing the management accountant strategist a broad framework for analysing the position of organizations at a particular moment in time. It can also be useful in the development of a number of strategic options which attempt to tackle opportunities and threats, build on corporate strengths and avoid weaknesses. An important consideration is that for most management there is a choice of strategy (Collins, Davies, Weetman, 1992). New environment needs the approach based upon the assumption that information is readily available to the accountants and an accurate assessment can be made of its likely impact on organizations. This is not always the case and the entire process is subject to behavioural influences. The so-called rational techniques have been criticized as 'pseudo-science'. Nonetheless this is the basic approach used by many researchers (Kirkham, Loft, 1993). In the 1980s the emergence of an increasingly complex and turbulent business environment called for modifications in the rational approach. The environment plays an important role for charitable organizations, because there are more groups for whom the financial records are of potential interest. These groups include paid staff, volunteers, beneficiaries, donors (including grant making trusts), institutional and corporate funders, government departments, rating authorities, The Charity Commission, the press and the public as well as the Inland Revenue and HM Customs and Excise. As a result of this Charity Accounts can be subject to more requirements than private sector organisations of equivalent size (Parker, 2001). In the light of this it is possible to distinguish three main functions of accountants: the raising of funds or financial management; the contribution of accounting to management control and decision-making; and the function of financial reporting. Accountants in Charitable organizations need to prepare and maintain accounting records. These records must be retained for at least six years (at least three years in the case of charitable companies), and make the accounts available to the public on request. In charitable organizations accounts can be prepared using one of two bases: receipts and payments basis which consists of an account summarising all money received and paid out by the charity in the year in question, and a statement giving details of its assets and liabilities at the end of the year. "Accruals basis contains a balance sheet showing the charity's financial position at the end of the year in question, a statement of financial activities (SOFA) during the year and explanatory notes. They, in accountancy terms, should give a "true and fair view" (Sayer, 1998). Recent years accounting has been seen as a management function which obtains influenced significantly by those who prepare and

Environmental Scanning Essay Example for Free

Environmental Scanning Essay Everyone in Pakistan well as many sitting thousands of miles away, the business community too is waiting to exhale. And so, all that’s visible in the run up to the precise moment – General Elections 2013 – are lots of breathlessly red faces. Generally, election year produces diametrically opposing reactions within the public and private sectors. While the incumbent seeks to woo fickle voters through last ditch spending (think: poverty alleviation, development projects, etc.), the private sector often buries its head and its wallet in the sand until the storm of unpredictability has passed. Consequently, the business outlook for 2013 will remain depressingly unexciting until the new government settles down. The global recession isn’t going away anytime soon and the IMF recently cut global growth forecasts for 2013 to 3.6%, down from its earlier estimate of 3.9%. Although the Pakistani Government is doing its best to convince anyone who will listen that it is going to manage ‘four’ percent growth in the coming year, nobody is really convinced. The Government doesn’t really have the money to spend. Public revenues – proposed tax amnesty schemes notwithstanding – are low; the fiscal deficit is 8.2% and, to make ends meet, the Government is borrowing heavily from the banking sector. For decent growth, the Government needs a tax-to-GDP ratio in the vicinity of 16%; all it can muster at present is 9.1%. While inflation has finally been brought into the single digit realm, few are deluded enough to imagine it will last. First, global commodity prices (particularly oil) are still heading upwards. Second, with just enough forex reserves left for three months of imports and no bilateral or multilateral donor rushing to save Pakistan from Islamabad, the rupee is poised to come under serious pressure. (In November alone, Pakistan had to repay a staggering $616 million to the IMF.) Third, the Government has the State Bank printing Rs 1.5 billion a day. All inflationary enough on their own, the combined effect of these three will make for a very painful and prolonged hangover . Further, savings are low and the cash flush banks are too busy throwing rupees at the Government to bother with the few businesses that would be willing to invest in Pakistan prior to elections. Simply put, banks would much rather bolster their profits by lending to an insatiable but dependable Government than lend to the brilliant but risky private sector. Significantly, while the  Central Bank has now cut its policy rate by a cumulative 200 basis points since August, its critics are still unhappy with the decision. Their first bone of contention is that the temporarily low inflation numbers do not merit monetary easing and the State Bank is just making it cheaper for the Government to borrow more rather than hauling it up for doing so. Further, they cite data on private sector credit off take that shows that the same actually declined after the deep cut in August (150 basis points) while Government borrowing increased. Businesses, on the other hand, say that interest rates are st ill too high to consider investing. (Foreign investment, of course, requires a climate unavailable in a frontline state in the war against terrorism.) While the specific merits of this allegation can be argued over, the business environment in the country presents a series of uncontroverted and inescapable realities that dilute the impact of the high cost of borrowing. There are obviously those who cry about energy shortages, the unpredictability of supply and the fear that the dollar-rupee exchange rates will cross Rs 100 by June 2013. There are others who moan about the law and order situation and the fact that extortion levels jump up dramatically in the run-up to an election as political parties gather funds for electioneering. But first and foremost is the fact that the entire country is in a state of political flux and the economy is teetering on the brink of a full blown crisis. Typically, investment – be it the setting up of large projects or just the import of new machines for spinning – has a significant gestation period. An investor, who can’t predict whether his deals with the current Government will be honored by the next or what the duty structure will look like by the time his machines come in, is generally wary and prefers to sit on the sidelines until he gets more clarity. Take the example of the energy sector. The long, sizzling summer of 2012 and the frequency of power riots across the country clearly showed that Pakistan has graduated from being energy insecure to an energy crisis state. Throughout this period, the Government and its ministers frequently spoke of the need for more energy related projects, alternative energy and what not at much touted ‘energy conferences’. At various points during the year, the import of energy from even Iran and India were discussed. Clearly, there is significant unmet demand and correspondingly, great returns in the business. Theoretically then, given that energy infrastructure projects take ages to  mobilise, investors should be queuing up to begin these before the summer of 2013. But while a few canny, deep pocketed investors are making ambitious plans, even they are not committing money to these projects just yet. Clearly, the top priority, for even those investors who are mostly immune to political persecution because of their wealth and/or influence, is political stability. This stability, however, refers not only to the political parties that form governments but also the nature of the economic policies they pursue. If an investor raises $200 million to set up an LNG import business, for example, he needs to know what the returns will be and how long the government intends to buy the product for and in the absence of this certainty; no one will cough up the cash. Key External Factors Business, now-a-days is vitally affected by the economic, social, legal, technological and political factors. These factors collectively form business environment. Business environment, as such, is the total of all external forces, which affect the organization and operations of business. The environment of an organization has got internal, operational and general lives managers must be aware of these three environmental levels and their relationship and importance. The term business environment implies those external forces, factors and institutions that are beyond the control of individual business organizations and their management and affect the business enterprise. Business environment influence the functioning of the business system. Thus, business environment may be defined as all those conditions and forces which are external to the business and are beyond the individual business unit, but it operates within it. These forces are customer, creditors, competitors, government, socio-cultural organizations, political parties national and international organizations etc. some of those forces affect the business directly which some others have indirect effect on the business. 5 Key External Factors: * Economic Forces * Social, Cultural, Demographic and Environmental Forces * Political, Governmental and Legal Forces * Technological Forces * Competitive Forces Economic Forces: Economic environment refers to the aggregate of the nature of economic system of the country, the structural anatomy of the economy to economic policies of the government the organization of the capital market, the nature of factor endowment, business cycles, the socio-economic infrastructure etc. The successful businessman visualizes the external factors affecting the business, anticipating the prospective market situations and makes suitable to get the maximum with minimize cost. Social, Cultural, Demographic and Environmental Forces: The social dimension or environment of a nation determines the value system of the society which, in turn affects the functioning of the business. Sociological factors such as costs structure, customs and conventions, cultural heritage, view toward wealth and income and scientific methods, respect for seniority, mobility of labor etc. have far-reaching impact on the business. These factors determine the work culture and mobility of labor, work groups etc. For instance, the nature of goods and services to be produced depends upon the demand of the people which in turn is affected by their attitudes, customs, so as cultural values fashion etc. Socio-cultural environment determines the code of conduct the business should follow. The social groups such as trade unions or consumer forum will intervene if the business follows the unethical practices. Political, Governmental and Legal Forces: The political environment of a country is influenced by the political organizations such as philosophy of political parties, ideology of government or party in power, nature and extent of bureaucracy influence of primary groups etc. political stability in the country, foreign policy, Defense and military policy, image of the country and its leaders in and outside the country. The political environment of the country influences the business to a great extent. Legal environment includes flexibility and adaptability of law and other legal rules governing the business. It may include the exact rulings and decision of the courts. These affect the business and its managers to a great extent. Technological Forces: The business in a country is greatly influenced by the technological development. The technology adopted by the industries determines the type and quality of goods and services to be produced and the type and quality of plant and equipment to be used. Technological environment influences the business in terms of investment in technology, consistent application of technology and the effects of technology on markets. Competitive Forces: * Globalization of corporations, knowledge, products, consumers, and communication. * Growing competition within and across countries, amongst domestic companies, and between domestic and transnational companies. * Link between international trade and international labor standards and parallel efforts to secure labor market flexibility through relaxation of labor laws and standards for stimulating investment, both domestic and foreign * Speedy flow of information, capital, and innovation throughout the world. * Rising expectations of all stakeholders. * Easy access to the best and the least expensive products and services, worldwide. * Rapid pace of change ( £If the rate of change in our organization/society is slower than the rate of change outside the organization/society, we will be led by others.’) * Faster response time (As Smajda of the World Economic Forum avers, the days of big fish eating small fish are over. It is the fast fish which swallows the small fish.’) * Growing socio-economic inequity. Now, we are going to discuss about different sectors which are affected by these key external factors and take opportunities to it but threats are also exists. * Service Sector * Agriculture Sector * Telecom Industry * Cement Industry Service Sector Services sector is largest and fastest growing sector in the world economy, accounting largest share in total output and employment in most developed countries. In case of Pakistan, the shares of services are increasing in all sectors of economy over the period. In fact, the growth rate of services sector is higher than the growth rate of agriculture and industrial sector. The Services sector has registered a growth rate of 4.0 percent during July-March of the fiscal year 2011 12 against 4.4 percent last year. It is dominated by Finance and Insurance at 6.5 percent, Social and Community Services 6.8 percent and Wholesale and Retail Trade 3.6 percent. I. Distributive Services: Transport, Storage and Communications * Railways * Water Transport * Air Transport * Pipeline Transport * Road Transport * Mechanized * Non- Mechanized * Communications * Storage * Water Transport Wholesale, Retail Trade and Hotels and Restaurants * Wholesale and Retail Trade including * Imports * Purchase and Sale Agents and Brokers * Auctioning II. Producer Services: Financial Institution * State Bank of Pakistan * Commercial Bank * Other Financial Intermediaries * Insurance Corporations and Pension Funds III. Social Services: Public Administration and Defense Social Community and Private Services * Education * Medical and Health Services Environmental Scanning: Economic Forces The Services sector contributes 53.8% to Pakistan’s GDP. Its major sub sectors are Finance and Insurance, Transport and Storage, Wholesale and Retail Trade, Public Administration and Defense. Services contribution to our GDP is gradually increasing. During the current period of financial downturn, the services sector has been a major contributor to growth. Pakistan’s GDP grew at the rate of 2.4%in 2010-11. The services sector grew at the rate of 4.1% as against 2.9% last year. The main contributors to this growth are public admin and defense (13.2%) and social services sector (7.1%) A cursory look on the composition of subsectors that contribute most to the services sector shows that retail trade, wholesale trade, research and educational consultancy services, restaurants and hotels, financial, construction, and some business services, such as computer and information technology (IT) services, and professional services, such as engineering, legal and accounting services, IT and related services have been most significant. Banks, DFIs and insurance companies, account for 98 percent of value added in this sector. The finance and insurance sector comprises State Bank of Pakistan, all scheduled (domestic and foreign banks) development financial institutions (DFIs), all insurance (life and general) companies, Modaraba/leasing companies, moneychangers and stock exchange brokers. The financial sub-sector consists of all resident corporations principally engaged in financial intermediations or in auxiliary financial activities related to finance. Social, Cultural and Demographic Forces Demography and lifestyle changes have the major contribution to increase in the growth of consumer demand of services. Pakistan’s consumption data shows that the demand of services is increasing over the time. During the 1985-86 people spent more of their income on goods then services. A number of factors such as income growth, changing demographic profile due to more urbanization, and the socio-economic environment are having its impact on retail scene. Pakistan retail is currently a virgin territory. This is more important in view of the large number of middle class population and available high-disposable income in the age group 25-35 years. Successful Retail Chains like Hyper star, Metro Makro has opened the avenues for the upcoming retailers. In Lahore, large numbers of households do the grocery shopping at Hyper star, Jalal sons, Alfatah, HKB, Metro, Makro and CSD. This shows the changing lifestyle and shopping preferences of the urban population of Pakistan. This retail growth is also supported by the increasing literacy rate in Pakistan; current urban population is more educated than their ancestors and has a better understanding of retailer influences on shopping as the larger retailer give quality assurances to consumers. Political, Governmental and Legal Forces Governments around the globe are gradually coming online using processes in which Information and Communications Technology (ICT) play an active and significant role, beyond simple digitalization, or automation of governance  services, or provision of LANs, since it is ultimately a tool for good governance and human development. The main objectives of e-Governance are to increase transparency of government working, increase and diversify public information and its value, and increase the quality of products and services being currently offered. This helps reduce high transaction costs (in terms of time, efforts and opportunities lost) by timely and relevant access to government information, especially for those who are disadvantaged or marginalized or living in remote rural areas. Services are still identified with line ministries and government departments; there is increasing recognition amongst policymakers for improvements in skill levels in many sectors and for a departure from inward-looking policies. In view of the dramatic changes in the services sector, regulatory and policy issues have continued to gain importance in policy-making circles for the last 15 years. Technological Forces Technology allows businesses to do everything faster. Many processes that once required ledgers, checkbooks and journal notations have now moved onto computer systems. Logging in and out, updating inventory information and communicating can now are happening much more swiftly. Technology moves very quickly, constantly evolving and creating new devices and faster systems. Businesses note these changes and attempt to move with technology, adapting it to their present and future needs. Pakistan has seen an explosive growth in the ICT sector in the last few years with deregulation and ending of the monopolies of the state sector. The number of mobile phones achieved their 2007 target two years earlier, and the recent deregulation of long distance (LDI) wireless local loops (WLL), other sections have served to provide faster, better and wide coverage, all at lower costs. Competitive Forces Of the non-factors input used by the services sectors, 61.1 percent were  purchased from commodity producing sectors, suggesting strong backward linkages of services with commodity producing sectors. Of the total purchases from the commodity sectors, 73.9 percent were purchased from manufacturing sector, followed by 14.6 percent from construction, and 7.7 percent from electricity and gas sectors. The service sectors purchases from agriculture sector account for 3.3 percent of total purchases from commodity sectors. About 76.5 percent of services sector (public administration and defiance, 40.6 percent and transport and communications 35.9 percent) made purchases from the commodity producing sectors respectively. Forward linkages the shares of individual service sectors in total purchases from commodity producing sectors are agriculture 28.1 percent, mining and manufacturing 70.2 percent, electricity and gas distribution 1.0 percent, and construction 0.7 percent. Technology also increases the possibility of crime. A tech-savvy employee can embezzle funds and make it difficult for the company to trace. Hackers can access personal and financial data of customers who trust the company to keep their information safe. Agriculture Sector Agriculture: Agriculture, also called farming or husbandry, is the cultivation of animals, plants, fungi, and other life forms for food, fiber, biofuel and other products used to sustain life. Agriculture was the key development in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that nurtured the development of civilization. The study of agriculture is known as agricultural science. Agriculture generally speaking refers to human activities, although it is also observed in certain species of ant and termite. The word agriculture is the English adaptation of Latin agricultÃ… «ra, from ager, a field, and  cultÃ… «ra, cultivation in the strict sense of tillage of the soil. Thus, a literal reading of the word yields tillage of fields. Agriculture Sector in Pakistan: Pakistan has a rich and vast natural resource base, covering various ecological and climatic zones; due to which the country has great potential for producing all types of food produce. Agriculture has an important role in generating economic growth. Agriculture affects the economy in three ways namely, first, it provides food to consumers and fibers for domestic industry; second, it is a source of scarce foreign exchange earnings; and third, it provides a market for industrial goods. Agriculture Sector is a key sector of the economy and accounts for 21 percent of GDP. The supportive policies of the government resulted in a growth of 3.1 percent against 2.4 percent last year. Major Crops registered an accelerating growth of 3.2 percent compared to a negative growth of 0.2 percent last year. The major crops including Cotton, Sugarcane and Rice witnessed growth in production of 18.6 percent, 4.9 percent and 27.7 percent respectively. However, preliminary estimates of wheat production showed a negative growth due to late receding of flood waters in lower Sindh which hampered the timely cultivation of the wheat crop. Livestock has witnessed a marginally higher growth of 4.0 percent against the growth of 3.97 percent last year. Fisheries sector showed a growth of 1.8 percent. Forestry recorded a growth of 0.95 percent as compared to the contraction of 0.40 percent last year. The total geographical area of Pakistan is 79.6 million hectares. About 27percent of the area is currently under cultivation. Of this area, 80 percent is irrigated and Pakistan has one of the highest proportions of irrigated cropped area in the world. Most of Pakistan is classified as arid to semi-arid because rainfall is not sufficient to grow agricultural crops, forest and fruit plants and pastures. About 68 percent of the geographical area has annual rainfall of 250 mm, whereas about 24 percent has annual rainfall of251 to 500 mm. Only 8 percent of the geographical area has annual rainfall exceeding 500 mm. Hence supplemental water is required for profitable agricultural production, either from irrigation or through water harvesting. Agriculture is largely dependent on artificial means of  irrigation. Of the total cultivated area, about 82 percent or around 17.58 million hectares is irrigated, while crop production in the remaining 3.96 million hectares depends mainly upon rainfall. The Irrigation Canal Command Area (CCA) has been grouped into classes on the basis of the nature and severity of its limitations water logging, salinity, sodality and texture. At present about one-fifth of the cultivated land in CCA is affected by water logging and salinity to varying degrees. An additional area of 2.8 million hectares suffers from sodality. Notwithstanding huge investments, the water table was 0 to 1.5 m under 2.2 million hectares of irrigated land, 1.5 to 3 m under6 million hectares and 0to 3 m under 8 million hectares. Thus Pakistan needs to overhaul its entire drainage and reclamation strategy reduces its cost and makes it efficient. Environmental Scanning: Economic Forces Flooding in 2011, affected crops like rice, cotton and sugarcane, although in the current year, 2011-12, they performed well and provided support and continued to support food security objectives this year. The agriculture sector recorded a growth of 3.1 percent in 2011-12. The profitability of agriculture sector during 2011-12, remained high because the farmers received good prices for rice, cotton and sugarcane, which allowed for greater financial resources passed on to the rural economy. During 2011-12, the overall performance of agriculture sector exhibited a growth of 3.1 percent mainly due to positive growth in agriculture related subsectors, except minor crops. Major crops accounted for 31.9 percent of agricultural value added and experienced a growth of 3.2 percent in fiscal year 2011-12 with negative growth of 0.2 percent in 2011. The role of credit is instrumental in the agriculture sector where Pakistani farmers often lack finances necessary for carrying out vital farming activities. This issue, if not addressed, can cause a multitude of problems, ranging from the exploitation of poor farmers at the hands of informal sources of credit, to a slowdown in the adoption of modern farming techniques and inputs, resulting in slow development of this chief sector of our economy. Social, Cultural and Demographic Forces Agriculture generates productive employment opportunities for 45 percent of the country’s labor force and 60 percent of the rural population depends upon this sector for its livelihood. * Established 40 surveillance and 66 rapid response units (RRUs). * Processed 0.4 million samples of blood, tissues and swabs for screening against Avian Influenza * Establishment of the Bio security Laboratory-3 is under process * Disbursed Rs. 23.5 million as compensation to Avian Influenza affected farmers Pakistan is maintaining Avian Influenza (bird flu) free status since June 2008 million tons was from marine production and the remaining came from inland waters. In July-March, 2010-11 the production was estimated to be 937,082 million tons, where 672,652 million tons was marine and the remaining was produced by inland fishery sector. Recognizing the vital role the sector plays in ensuring food security, generating overall economic growth, reducing poverty and the transforming towards industrialization. Political, Legal and Governmental Forces The present government is determined to improve the quality of life of the people and to banish hunger and malnutrition from the country by making agriculture an efficient, productive and profitable sector of the economy. In order to improve governance in the public sector the government took bold steps and brought in the 18th Amendment to the Constitution of 1973. Accordingly, Ministries performing tasks which were provincial subjects were devolved from the Federal level, including the Ministry of Food and agriculture. Two major steps in order to solve the food security issues on a permanent basis; The first step is the establishment of the National Food Security Council representing Federal, Provincial and local level Governments. Secondly, through a Letter of Intent the Ministry, in collaboration with World Food Program, is launching the Zero Hunger Program  worth US $ 1.6 billion to address the food security objective. A total of 290 veterinary clinics have been established providing veterinary services at 70 percent reduced costs to rural farmers at their door steps i.e. 100 percent achievement. Technological Forces The Federal Seed Certification and Registration Department (FSCRD) is engaged in providing seed certification coverage to public and private sector seed companies of the country. It provides seed quality control services through its 28 seed testing laboratories as well as monitoring of seed quality in the market. The activities and achievements of the department during 2011-12 are described below: * During the year 2011-12, forty-five (45) new seed companies were registered, making the total number of registered seed companies in the country 774, which includes four public sector and five multinational companies. * Twenty-two (22) new crop varieties were approved {(5) wheat, (11) cotton, (3) oilseeds, (2) pulses and (1) fodder}. * During 2011-12, different crops offered by the various seed agencies, totaling 502.6 thousand acres, were inspected for certification purposes. * During 2011-12, a total of 13.7 MT of imported seed of various crops and hybrids, with a total value of Rs. 3287.6 million, was tested under the Seed (Truth in Labeling) Rules. 1991 at the port of entries i.e. Lahore and Karachi. * Almost 718 samples of seed and propagating material of various vegetable and fruit crops were tested at the Central Seed Testing Laboratory, Islamabad for detection of fungal and viral disease using latest diagnosis techniques and protocols. The Federal Seed Certification and Registration Department (FSCRD) is engaged in providing seed certification coverage to public and private sector seed companies of the country. It provides seed quality control services through its 28 seed testing laboratories as well as monitoring of seed quality in the market. Competitive Forces Pakistan is member of the Cairns Group (an alliance of 18 countries looking for ambitious outcome in the Market Access areas), G-20 (group for safeguarding interest of developing countries in agriculture negotiations) and the G-33 (group of developing countries and LDCs aiming to get preferential terms in Market Access and Special and Differential treatment). In negotiations on market access, domestic support and export competition, Pakistan’s stance is supportive of the G-20 collective position. Pakistan strongly supports improvement in market access by reducing tariffs, reducing tariff escalation, and eliminating tariff peaks. Pakistan also works closely with the Cairns Group on tropical products issues. Pakistan has entered into Free Trade Agreements (FTA) with China, Malaysia and Sri Lanka and has exchanged a draft FTA with Singapore which includes an investment protection clause. In addition to WTO membership, Pakistan is party to two agreements for regional trade liberalization. The Economic Cooperation Organization (ECO) comprised of Turkey, Iran, Afghanistan, Azerbaijan, Kazakhstan, Kyrgyz, Tajikistan and Turkmenistan; and the South Asian Association for Regional Cooperation (SAARC) with India, Bangladesh, Sri Lanka, Bhutan, Nepal and the Maldives. A Trade and Investment Framework Agreement (TIFA) have been in place between Pakistan and the United States since July 2003. Both countries are now negotiating a Bilateral Investment Treaty (BIT). Telecom Industry Telecommunication: Word Telecommunication has two parts. One is Tele and other is Communication. Communication means conveying or disseminating the information. Word Tele is a Latin word which means far off. Telecommunication is the dissemination of signals to a far palace for the purpose of sharing some message or idea. In ancient time codes, smokes, drums or other components were used for conveying information but now a day telephones, fax, emails etc is used. So now the new definition of Telecommunication states sharing of data over a distance, through electric means. Telecom Sector in the World: In this fastest growing world information flows through the signals and cables in form voice or text. Telecommunication is not just bringing the people together but it is also bringing different economies, cultures and countries together. Now we can see the whole world as a Global Village. Now Telecommunication is an essential part of our lives. With the Expansion of this sector, the world has gained about $3.85 trillion in year 2008. And the service revenues have reached about $2 Trillion and Expected to reach the level of $3 Trillion in 2013. And this revenue is about 3% of the World GDP. The major part of telecom sector is internet and Telephones. Telecom Sector in Pakistan: Pakistan is on the verge of Telecom revolution Pakistan continues to be one of the fastest growing telecom markets in the world. Reforms introduced by successive Pakistani governments over the last decade have dramatically changed the nature of telecommunications in the country. The Pakistani telecom sector has attracted more than $9 billion in foreign investments. During 2007-08, the Pakistani Communication sector alone received $ 1.62 billion in Foreign Direct Investment (FDI) – about 30% of the country’s total foreign direct investment. By March 2009, Pakistan had 91 million mobile subscribers – 25 million more subscribers than reported in the same period 2008. In addition to 3.1 million fixed lines, while as many as 2.4 million are using Wireless Local Loop connections Pakistan is ranked 4th in terms of broadband Internet growth in the world, as the subscriber base of broadband Internet has been increasing rapidly with the total base crossing 170,000 in the country. The rankings are released by Point Topic Global broadband analysis, a global research centre. Pakistan according to PC World was amongst those top five countries with the highest SMS traffic processed with 763 million SMS during 2008-09. In terms of year-on-year growth, Pakistan traffic volume grew by 253 percent compared to last year during the same period. The contribution of telecom sector to the national exchequer increased to Rs 110 billion in the year 2007-08 on account of general sales tax, activation charges and other steps as compared to Rs 100 billion in the year 2006-07.Pakistan telecom industry is handling the telecom companies  which are operating at this time like Mobilink, Ufone, Warid, Telenor, Zong etc†¦

Silk route Essay Example for Free

Silk route Essay In recent years, both the maritime and overland Silk Routes are again being used, often closely following the ancient routes. The Silk Routes (collectively known as the Silk Road) were important paths for cultural, commercial and technological exchange between traders, merchants, pilgrims, missionaries, soldiers, nomads and urban dwellers from Ancient China, Ancient India, Ancient Tibet, Persia and Mediterranean countries for almost 3,000 ears. Extending 4,000 miles, the routes enabled people to transport goods, especially luxuries such as slaves, silk, satin and other fine fabrics, musk, other perfumes, spices, medicines, Jewels, glassware and even rhubarb, as well as serving as a conduit for the spread of knowledge, ideas, cultures and diseases between different parts of the world (Ancient China, Ancient India, Asia Minor and the Mediterranean). Trade on the Silk Road was a significant factor In the development of the great clvlllzatlons of China, India, Egypt, Persia, Arabia and Rome, and In several respects elped lay the foundations for the modern world. Although the term the Silk Road implies a continuous Journey, very few who traveled the route traversed it from end to end. For the most part, goods were transported by a series of agents on varying routes and were traded in the bustling mercantile markets of the oasis towns For More Into, Please see tnese llnKs 1 . http://library. thinkquest. org/13406/sr/ 2. http://www. spongobongo. com/zy9985. htm 3. http://en. wikipedia. org/wiki/Silk_Road Silk Road The Silk Road is a historically important international trade route between China and he Mediterranean. Because silk comprised a large proportion of trade along this road, in 1877, it was named the Silk Road by Ferdinand von Richthofen, an eminent German geographer. Xian Terracotta Warriors Culture: The road is not only an ancient international trade route, but also a splendid cultural bridge liking the cultures of China, India, Persia, Arabia, Greek and Rome. The Four Great Inventions of China and religions of the West were introduced into their counterparts. History: From the time Zhang Qian opened up the world-famous Silk Road during he Han Dynasty, until the collapse of the Yuan Dynasty, it enjoyed a history of about 1 ,600 years. Route: This ancient road begins at Changan (now Xian), then by way of the Hexi Corridor, and it reaches Dunhuang, where it divides into three, the Southern Route, Central Route and Northern Route. The three routes spread all over the Xinjiang Uygur Autonomous Region, and then they extend as far as Pakistan, India and even Rome. Other roads: In fact, besides the Silk Road in the northwest of China, there are another two trade roads in the southwest of China and by sea, which also ontributed greatly to the development of the world. They are called the Southern Silk Road and the Silk Road on the Sea. Crescent Lake, Dunhuang, Gansu Scenery along the Road: The scenery and sights along the Silk Road are spectacular and intriguing. There are well-known Mogao Caves (Mogao Grottoes) in Dunhuang, the bustling Sunday Bazaar in Kashgar and exotic customs in Xinjiang Uygur Autonomous Region and more Silk Road Adventure: There are all kinds of tour plans for traveling the world-famous road. TravelChinaGuide provides many tour lines for visitors to experience the adventures of this ancient trade road. Recommenaea lours: Classical Silkroad Tour: 14 Days Beijing Urumqi Kashgar Urumqi Turpan Dunhuang Xian Shanghai In-depth Adventure: 22 Days Beijing Urumqi Korla Kuqa Aksu Kashgar Hettan Minfeng Korla Turpan Dunhuang Xian Shanghai More Silk Road Tours Tips: It is necessary for tourists be aware of some travel essentials when they are on the road, such as weather, food, drink, accommodation, transportation and customs of minorities. Here provides detailed information about them. Pictures: The pictures show the stunning scenery of this time-honored trade route.

Leadership Effectiveness And Personal Managerial Qualities

Leadership Effectiveness And Personal Managerial Qualities Leadership is about knowing the pros and cons of change, and comprehending the interplay of oneself and others. Leadership is the perception of ones connectedness both personal and business wise, thus leadership is about being self aware and choice-decision making. Thus, it is a process where a person influences a team to accomplish there objectives, and direct those objectives to be more coherent for the organisation, this is viewed by (Northouse, 2007). Hence, a leader is one who has a clear vision, communicate passionately, and direct their actions and those of the team toward the goal, by driving to completion. 1.1 Background Who is the author? The author born October 1978 belongs to a Christian home; newly married and is at the early stage of parenthood with bringing up a young family, has earned an Upper Second Class Bachelor of Arts in Business Management from Anglia Ruskin University who is currently pursuing Masters in Business Administration with emphasis in Leadership, Entrepreneurship and Innovation. The author holds the position of an Office Manager who performs a wide array of diverse duties, thus, working alongside the president to meet the companys staffing and organisational needs. Furthermore, the author is responsible for designing and implementing various policies, supervisory responsibilities, recruiting and training, which facilitate efficient and smooth functioning, with focus on supervising works of administrative staff. After eleven year service in the marine industry as Office Manager at Windjammer Barefoot Cruises, the author now partly owned and is a Director of a Sign Company. In addition, the author also landed a new job as Office Manager at another marine company, which operates tugs and water tankers. However, the author currently has no outside activities due to studies, a new family, working part time with spouse business, plus having a full time job. Therefore, the author has a tight schedule, with a vision to complete studies and become successful in being a confident leader and expressing creativity to find unique solutions for the family business with a joyous presence, continued dedication and people skills. The author strongly expressed values that everyone deserves to be fairly treated and education is the key to success. These few leadership traits, qualities and skills of the author are known to be soft skills that will assist the authors ability to resolve conflicts and build consensus, to motivate and inspire employees. Thus, office is like family, they get cranky and having a positive and genuine attitude will assist tremendously. 2.0 Reflection on Leadership Effectiveness Effective Leadership begins with the fundamental ability to believe in oneself, which incorporates maturity, conviction and expertise that translate into a purpose and direction, thus, having a dream and vision that will better the company or society. Effective leadership is composed of a number of different competencies, thus effectiveness of leader is limited, where leaders are person who know how to inspire and relate to subordinates. This all depends on how appropriate the leadership style is to the situation in that it is operated, which comes from matching style and follower task relevant maturity, or task readiness. Based on the Myers Briggs test, the author type indicator reflected ENTJ (Extroversion, Intuition, Thinking, and Judging). ENTJ are generally gets straight forward, decisive, and leadership natural, they also see illogical very quickly and notes inefficient procedures, also generally develops and implement comprehensive systems in solving any company or business problems. Along those same lines, enjoys setting future planning and being goal oriented, usually well up to date, well read, enjoys on expanding knowledge as required and passing it to others by giving forceful present ideas. Thus, true effective leaders possess specific leadership qualities, skills and styles beyond industry knowledge and technical skills. 2.1 Qualities of Leadership Leadership behaviour reflects the traits and personal characteristics that will facilitate success in leadership role. ENTJs are imaginative, conceptual learners who learn best in a challenging and interactive environment. The combination of intuition and logic leads them to enjoy dealing with concepts and strategic thinking, and excellent language skills. These qualities of the author are drawn from work and personal life balances that are reflected as follows:- Strengths of Personal and Work Life Communication and Relationship The author an ENTJ is an enthusiastic communicator who loves to interact with tremendous amount of self-confidence, has excellent verbal communication skills and value honesty. The author has always been the centre of attention that is being an extravert with intellectual freedom to think and speak, who has a disposition of always being frank and getting straight to the point with strong regards for positive structure that is able to synthesize and adapt to new ideas. Even though the author had been tested to be extraverted, the author has Introverted Intuitive functions which complement Extraverted Thinking, such as, being talented in creating great benefits through the ability to recognise the expected potential of others, and showing others the way to get past difficulties within the given situation. Career and Work In the position of an Office Manager ENTJ shows exactly that the author is assertive, loyal, and knowledgeable and manages people, along with marshalling resources. The author is career-focused in long-term perspective with visualisation of both businesses with high performance and standards. The author is generally an energetic people person who likes to be in charge and make things happen, along with others participating, especially in team projects rather than work alone. The author tends to move up the ladder very quickly when joining any company or generally in life. With this current company the author has been there for two months and a major travelling abroad is ahead. On entering the organisation, the author has been leapfrogging people who have been there longer, thus, the cumulative experiences have prepared the author for it. The author has always been level headed, shows improvement and value the position given. Throughout the authors career, as most ENJT can identify, vision is priority and risk does not scare the author. The payoff has been consistent on an executive level, and once going towards the goal, the author makes sure it is attainable, and believing all production must be done to the best with logic and rationale. 2.1.2 Weaknesses of Personal and Work Life Some major flaws of the author:- Gets frustrated by lack of closure of people not meeting deadlines, thus, bearing in mind the given work produced should also show professionalism, which is one of the main priorities in and ENTJ. The manner in which conversation is carried out, such as, being harsh and blunt in criticism when errors occur. Tends not to listen to other peoples sentences or have them finish their sentences, especially if what was said do not make sense to them, thus, not giving the chance for the person to justify their point. Limited patience with a temper over relatively small matters that escalates into bigger things with inefficiency and can be very judgmental and argumentative. Low regard for people who are intimidated by them that is intensified by arrogance, thus, making hasty decisions, without understanding the issues and possible solutions to the problems. Therefore, the author must enforce balance due to the qualities possess above, in order to accomplish whatever goals are set. Below, speaks on the leadership skills which need improving by the author. 2.2 Leadership Skills Leadership skills are based on leadership behaviour, thus, skills alone do not make a leader style and behaviour do. Leadership is interesting because it is about talent and the natural ability that is mostly about oneself and maintaining that personal authenticity, by being true; not just slavishly following others ideas. Good leaders always rely on their ability to read situations and improve tasks, and acknowledge their shortcomings, which may work for them. However, a good leader would want to improve their skills of communication, decision-making and problem solving and not shy away from new opportunities to lead. The author skills are most effective when matching styles to the needs of the people that are trying to influence. Thus, the challenge is that leading people is the opposite of trying to control them. It is not just what happens when you are there; it is what happens when you are not there. The author believes that leadership is not something you do to people; it is something you do with them. Listed below are two simple ways suggested for the author to improve leadership skills for future growth? The author must prioritise time for proper organising and planning, thus, by consulting with experts for feedback Political skills can be developed by the author in order to reduce the gossip and rumours, that is, look for further critical information that others cannot get Thus the continued characteristics of developing good leadership skills for the author will take time, as if perfecting an idea for a project, because without investment of time, the author will not be able to become the great leader envisioned, thus these few skills that contribute to the authors behaviour will be able to accurately and successfully adapt to changing environment with limited challenges. Below speaks on the style of leadership the author is engaged in. 2.3 Leadership Styles Leadership style is the manner and approach of providing direction, implementing plans and motivating people. Effective leadership style takes time and energy but provides benefits, which helps to enhance team spirit and effectiveness among members that identifies preferred management styles. The style describes the personal way of leading; it becomes effective when matched with the skill sets and motivation of the follower. However, there is no right style of leadership, because it varies with the personality and situational needs. Thus, the author likes a mixture of working with others and working alone, in the form of management and leadership positions which can energise others to carry out the vision via the objectives and tries to motivate the team to work towards those goals. Leaders within the organisation have been found to account for some of the organisation overall performance, thus, the authors style has been identified as an important area of interest. Additionally, the author likes teamwork and interactions that convince and influence enthusiasm with an invaluable source of vitality and drive according to the style needs of Participative or Democratic Leadership. 2.3.1 Participative or Democratic Leadership Participative leadership or democratic style encourages employees to be part of the decision making, which takes everyone words as a considerable opinion before carrying out the final decision. This style of leader is coach, the one who has the final say, but still gathers information from staff members before making such decision. Ultimately, the author works in an environment that is still very autocratic, but given the changes that the organisation has hired the author for, participative leadership is what they are looking at. However, the author is not equipped to all situations that arise, thus, team handling is an assets and the author must use the required skills of facilitating discussion and ideas that is generated by the group. Furthermore, the author likes being in charge and to know what is going one at all times, thus, enjoys marshalling facts and planning future directions. Additionally, if the author foresees the project cannot be handled, someone will be brought in to carry out the project, and this person must have clear understanding towards the goal, because the author demands high quality and standards. The author a natural leader encourages team members to participate through listening and communicating, however, the leader maintains the final decision making. The style of leadership reflects the following characteristics of the author:- Organise staff to complete tasks in the most effective way, by delegating those tasks and overseeing the completion of the project to achieve results Motivates staff to meet the goals and objectives, given the overall picture, and vision to follow with new ideas, evaluation of possibilities and rational decisions Create positive work environment, and seek the interest of each employee with fairness given the responsibilities, which allows them the to challenge themselves Allowing subordinates to feel free in thinking creatively for problem-solving, thus, reducing office politics, so the use of ideas will importantly gain credit and reduce the tension generated amount staff Thus, the business cannot afford to make mistakes, using this type of leadership is not a sign of weakness, but rather a sign of strength where the author gains respect from the employees. Also, the author do not have all the information required to achieve the goal that is why knowledgeable staff is hired to allow better decision via teamwork, so that, effective and accurate decisions are made. 3.0 Theoretical Concepts ORegan and Ghobadian (2004) define performance measurements as consisting of quantitative indicators used by management to judge how well the organisation is doing. Leadership depends on whether emphasis is on behaviour or the result of that behaviour according to (Jex, 2002) thus leaders also make attributions about their followers behaviour. Similarly, Kelley (1967) describes leader attribution as a way leader interprets follower behaviours and attributes cause to that behaviour, where leaders can assess follower behaviour by specific task or across tasks and whether it is unique to an individual. Leaders intention is to diagnose problem performance, to understand the reasons for success, or anticipate the consequences as stated by (Mitchell et al. 1981). However, there is a distinction between leadership and management, where a manager carries out administrative duties and exerts control subordinates behaviour, thus obtain reluctant compliance. In contrast, a leader carries out administrative functions along with inspiring and motivating members to strive for excellence, by obtaining commitment, reviewed by (Jex, 2002). So, effective leadership demonstrates by influencing and guiding the activities of a team toward achieving its goals, defined by (Judge et at., 2004). In addition, according to Jex (2002), goals direct attention, focus efforts and maintain task persistence, helps individuals avoid getting sidetracked, thereby, guiding a leader to enhance processes and facilitates development of collective efficacy which has an influence, revealed by (Chen and Bliese, 2002). Leadership therefore, is most relevant aspects of an organisation context and is challenging by different situations, thus, emphasis of future leadership and interpersonal skills that ensure sound management practices and high leadership standards by the author are discuss as follows:- Qualities of Leadership Leadership Skills Leadership Style 3.1 Qualities of Leadership According to Roach and Behling (1984), leadership is the process of influencing an organised group toward accomplishing its goals, therefore, these influential qualities most people associate with leadership are assertiveness, loyal, risk taker, self-sufficient, ambitious, patience, trustworthy, and knowledgeable. Thus, employee trust in leaders is influenced by the level of perceived fairness reflected in the company practices of distributing rewards and benefits. Dirks and Ferrin (2002) stated that leadership has three types of justice; procedural which is an indicator of the leaders tendency to be fair when making decision about rewards; distributive is the fairness of outcomes a follower receives as a result of those procedures; and interactional involves the degree of respect with which the leader treats the follower as they carry out organisational policies and procedures. Thus, Dirks and Ferrin (2002) also, found that trust in leadership is related to attitudinal, behavioural and performance outcomes. Therefore, trust a key concept is where leaders often have the power to impact followers and their ability to achieve goals, reflects that followers will attempt to draw inferences about their leaders characteristics such as integrity, dependability, fairness and ability, because these inferences have consequences for work behaviour and attitudes, viewed by (Dirks and Ferrin, 2002). Building subordinates trust in leadership starts with the managers ability to lead and administer the department functions, stated by (Knabe, 1999), thus, mutual trust needs to be in place. According to Bass (1985), one of the most important conditions that a leader must instill in his subordinates prior to problem solving trusted by his employees is the ability to lead for effective results. So, in order words, for the business to grow qualities of a leader is not only to fulfil goals, but, basic skills in management and leadership will also have to be the foundation in developing a more advance practice, thus, problem-solving, decision-making, planning and delegating, communication and managing oneself are effective leadership skills discussed below. 3.2 Leadership Skills The characteristics of a leader come through our day to day interactions with those around us. If the author stop to think about some the leaders that have been, or even infuriated, the qualities of good leadership skills will become apparent. Leadership skills is not just about showing your superiority, according to researchers (DeHann and Havighurst 1957), it is the use of attributes such as initiative, persistence ambition and dominance to describe leadership abilities, as well as, sensitive to others needs, affectionate and agreeable, that is used to enhance the skills towards leadership and the ability to improve such tasks. Tannenbaum (1983) reported that a correlation exists between the exhibition of leadership skills and general intelligence for advance leadership skills, such as, written and verbal communication, group dynamic, problem-solving, planning and personal skills. Effectiveness of these skills must be able to perform the ability to analyse strengths and weakness, identify and provide training effectively, show success in developing and enhancing skills, and scheduling and controlling work, such as, capabilities in identifying and setting performance goals along with posing all supervisory skills necessary. Thus, real leaders, read their team, analyse the compound between their team members, the tension between the tasks and processes, and how the team builds its competencies. According to Mehra et al. (2006) organisations must seek efficient ways to enable performance, longstanding approach that is, by shaping collective norms, helping teams cope with their environment that provides valuable insights into relationship between leadership and team performance (Guzzo and Dickson, 1996). Furthermore, Herr (1998) identifies a few competencies that should be incorporated into an executive performance appraisal including; coordination, awareness, personnel management, planning, financial management, coaching skills, evaluation skills, accomplishment assessment skills, technical competence, interpersonal skills, communication skills and leadership skills, thus in providing behavioural outcome and performance, that will lead to leadership style. 3.3 Leadership Styles Today management needs to command and direct, but also identify needs, communicate, empower, inspire trust and forge a common vision for a better future, defined by (Athanasaw, 2003). In similar, leaders need to enforce recognition of employees and value human being whose ideas are seriously considered, viewed by (Athanasaw, 2003) to support leadership role. Thus, leadership is the process of influencing followers so they cooperate, such leaders are members of groups who influence the context of the organisation they lead, according to (van Knippenberg and van Knippenberg, 2005). There are many types of leadership, but because of society today, participative or democratic leadership is more recognised, thus, Hersey-Blanchard (1998) theory is based on the amount of direction and socio-emotional support a leader must provide given the situation and the level of maturity of the followers. So, the most suitable leadership style would be the development level of the subordinate actions, such as, directing, coaching, supporting and delegating. Similarly, Tannenbaum and Schmidts (1958), leadership continuum reflects that leadership behaviour varies along a continuum and that as one moves away from the autocratic extreme the amount of subordinate participation and involvement in decision taking increase. They also suggested that the kind of leadership represented by the democratic extreme of the continuum will be rarely encountered in formal organisations. The four main types of leadership are, autocratic, persuasive, consultative and democratic. In similar, participative leadership defined by Lewin (1939) and others stated that there are three types, autocratic that is very dedicative, which has led to revolution, laisse-faire which lacks enthusiasm and democratic the effective style. Furthermore, Likert (1967) theorised four styles namely, exploitive authoritative where there the leader uses fear-based to enforce conformance, benevolent authoritative is rewards use to motivate performance, consultative is the seeking of consultation and participative invites participation across all level. Thus, leadership cannot perform without leaders and followers, therefore, leadership results in followers behaviour that is purposeful and goal-directed in some sort of organised setting, although most studies reflect the nature of leadership in a workplace. So, without having a leadership style, business cannot conform to achieve its objectives and goals, thus leaders must a style is able to adapt to the laws of the company and its future expected outcome. Thus, the values and qualities of the author must be able to adapt to the global challenges in an effort to develop proper growth for the business. 4.0 Recommendations With recommendation to continued success, the author should enforce combination of leadership savvy, good judgement based on knowledge and information, and reasonable ability to steer a business in the right direction, which is considerably important. Thus, to become an excellent leader the author must use wisdom (head), feelings and emotions (heart), strength and power (hands) and good communication (tongue) to help others because without leadership within any given situation, there would be chaos and no formability as to where the organisation is headed. In addition, the author must commit in enhancing personal leadership qualities and managerial skills that is needed to initiate and sustain profitable growth for the company. Thus, strong leadership it is essential to the success of any company and therefore it is recognisable that the author should develop qualities of courageousness and patience to strive and become powerful. The author must also, choose competent subordinates, continue to demonstrate high moral standards, and exude charisma, while keeping the control of protocol and process, which will be used to enhance leadership. However, the author should never abuse power and should stay focus and stick up for one another, the author must readily adapt to leadership style to suit the situations, such as, being faced with a crisis, the author ought to take action and use imagination to solve problems and make recommendable suggestions, by simply scanning the business environment. ENTJs should be reminded that not every one is perfect and mistakes are there for everyone, so having quality patience is of foremost and respecting other peoples feelings is appreciated. Even though their personality of sentiments are not powerful, ENTJ must still be mindful the feelings and value judgement ought to sensitive to that individual, because, if submerge emotion and inappropriate problems are found serious problems can occur. Therefore, because ENJT are very informed and extremely creative, the best able to continue to keep head strong and hear others for what they need to say. Always be level-headed and growth will come its way, so that when making judgement and hurting someone, always keep focus that not everyone are leaderships, there must be people to lead, which make you a leader. Another recommendation is to prioritise your time as this will assist in planning and developing in case of an accident or incident occurs, thus, true leaders demonstrate strengths and recognise their weakness. If sound criticism is to take place, be sure that the individual has a strong back and that the criticism is approached in a professional manner and not arrogant as mentioned previously. So in all, leadership skills ought to improve, by making observation from other leaders using a variety of settings, going beyond their prior experience and adjusting or adapting to current business situation is of essences and must be able to develop continued skills. A good leader has a lifetime of study and should acquire indefinable qualities that involve developing and improving leadership skills along with enhancing the managerial skill at the business. Reference Northouse, G. 2007. Leadership Theory and Practices. 3rd Ed. London: Sage Publication,Inc. ORegan, N., and Ghobadian, A. 2004. Leadership and Strategy: Making it happen. Journal of General Management. 29 (3), pp. 76-92. Jex, S.M. 2002. Organisational Psychology: A Scientist-practitioner Approach. New York: Wiley. Kelley, H.H. 1967. Attribution Theory in Sovial Psychology. Cited in D. Levine (Ed.) Nebraska Symposium on Motivation. NE: University of Nebraska Press. Mitchell, T.T. et al., 1981. An Attributional Model of Leadership and the Poor Performing Subordinate: Deveolpment and Validation. Cited in B.M. Staw and L.L. Cummings (Eds). Research in Organisational Behaviour. Greenwich, CT: JAI Press. Jex, S.M. 2002. Organisational Psychology: A Scientist-practitioner Approach. 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Leadership Styles as perceived by Career Senior Service Executives. International Journal of Public Administration, 26 (10-11). Pp.1207-1236. Athanasaw, D.L. 2003. Leadership Styles as perceived by Career Senior Service Executives. International Journal of Public Administration, 26 (10-11). Pp.1207-1236. Van Knippenberg, B. and van Knippenberg, D. 2005. Leader Self-sacrifice and Leadership Effectiveness: The Moderating Role of Leader Prototypically. Journal of Applied Psycology. 90 (1). Pp.25-37. Hersey, P. and K.H. Blanchard. 1977. Management of Organisational Behaviour. Englewood Cliffs NJ: Prentice Hall. Tannenbaum, R. And Schmidt, W. 1958. How to Choose a Leadership Pattern . Harvard Business Review. 36 (2). Pp. 95-101 Lewin, K. 1946. Action Research and Minority Problems. Journal of Social Issues, 2 pp 34-46. Likert 1967 Fieldler, 1967. A Theory of Leadership Effectiveness. New York: McGraw-Hill Handy, co. 1192. The Language of Leadership in Frontiers of Leadership (Ed. Syrett and Hogg). Oxford: Blackwell Blanchard, K., 1998. Gung Ho! New York: Morrow. http://www.humanmetrics.com/cgi-win/JTypes3.asp