How can Marketing mix model help Manchester United build its global brand? Essay

The fundamental reason for this report is to present the meaning of establishment and to examination its upsides. The report contains a few focal points of establishment in pretty much every angle, which have been end up being basic and solid. By this mean, the end could be drawn that it is the most ideal approach to show a universal business to establishment. 2. 0Introduction Franchise, is an approval allowed by a legislature or organization to an individual or gathering empowering them to complete indicated business exercises. For instance, McDonald’s is one of the most renowned brand diversifying. As the franchisor, McDonald’s gives the privilege to the franchisee, just as sell McDonald’s related items to somebody who is happy to set up his own business. The permit understanding requests McDonald’s to continue fabricating or working ways and the nature of the great. This is a settlement that can suit the two gatherings truly well. Under a McDonald’s establishment, McDonald’s possesses or leases the position and the structure of eatery. The franchisee purchases the parts, the gear and the option to deal with the establishment in next twenty years. To affirm lucidness all through the world, all franchisees must utilize normalized McDonald’s menus, marking, organization frameworks and structure formats. 3. 0Main Section 3. 1 Justify of the reference Bernd Helmig is Full Professor, Chair and Head of Department for Business Administration, Public and Nonprofit Management at the University of Mannheim (Germany). Other than he goes about as Academic Director for Executive Education of Mannheim Business School. He was Visiting Faculty Guest at Harvard Business School (Boston, Cambridge/Mass. ), and Visiting Scholar at the University of Edinburgh (UK). His examination advantages spread fields, for example, Nonprofit Marketing, Fundraising, Social Marketing, Failure of NPOs, and Corporate Social Responsibility (counting Corporate Giving and Corporate Volunteering). Tansev Geylani moved on from University of Pittsburgh. He has such degrees as PhD in Industrial Administration (Marketing), Carnegie Mellon University, 2004,MS in Industrial Administration (Marketing), Carnegie Mellon University, 2002 MBA, Koc University and 1999 BS in Mechanical Engineering, M. E. T. U. , 1997. Tansev Geylani joined the Katz staff in 2004. His examination advantages incorporate appropriation channels, retailing, product offering systems, data sharing, advertising and antitrust, media rivalry, and client created content. He was named Marketing Science Institute Young Scholar in 2009. Different honors he got incorporate Management Science’s Distinguished Service (2009 ; 2011) and Meritorious Service grants (2012), the Katz Excellence in Research Award (2009), and the Katz Excellence in Teaching Award (2008). Alanson Minkler function as an Associate Professor, Economics for University of Connecticut at Storrs Mansfield. His branches of knowledge include: Economic Rights, Alternative Economic Decision-Making. He additionally has degree like Ph. D. College of California-Davis, 1988 and B. A. College of California-Berkeley, 1981. His underlying advantages fixated on specialist commitments and inspirations in firms, with specific spotlight on work oversaw and diversified firms 3. 2 Advantages of Franchise Being your own supervisor The franchisor consistently checks the principles of administration, quality, worth and neatness of the franchisee (Minkler, A. , 1990). The franchisee who gets all the preparation and backing from franchisor is working their own business so has a lot to lose just as addition, which propels them a great deal to decide to succeed. Lower disappointment rate Once you utilize an establishment, you are purchasing a created idea that has been effective. Figures show that franchisees stand a vastly improved chance of progress than individuals who start autonomous organizations; free organizations check a 70 to 80 percent possibility of NOT enduring the initial hardly any basic years while franchisees have a 80 percent possibility of enduring (Michael M. Coltman, Franchising in Canada: Pros and Cons, Self-Counsel Press). Concentrated beginning preparing The franchisor has the obligation to offer full-time preparing program which incorporates three phases to franchisee (Tansev G, 2004). Right off the bat, it begins with working in an eatery, wearing the staff uniform, planning for food and preparing. Also, it centers around zones, for example, group building, business the executives, taking care of client enquiries and authority abilities. Ultimately, the learner finds out about stock control and requesting, lawful side of recruiting andâ employing staff and benefit and misfortune accounts. These preparation techniques are end up being significant. Advertising help Franchisee could profit by the parent company’s promoting programs, as indicated by Entrepreneur. com. The showcasing and publicizing commercials made by the franchisor leave franchisee with more opportunity to concentrate on the every day working of business. This is a success win for the two gatherings. It helps increment deals by methods for establishment, which, then again, permits the parent organization to gather more expenses. (Bernd H. 2008) Continuous help It perceives that the achievement and gainfulness of numerous universal chain brands are inseparably connected to the accomplishment of the establishments (Minkler, A. , 1990). An exceptionally qualified gathering of expert counselors offer ceaseless help on everything from HR to PCs and bookkeeping. The field consultant can turn into an important colleague and a sounding board for thoughts. Ensured Territory In many cases, an establishment parent organization would ensure franchisee a foreordained domain and help it in prevailing in that field (Tansev G, 2004). Regions fluctuate contingent upon the organization which is worked with, yet not rivaling another establishment area from a similar organization in domain can assist with creating income. 3. 3 Shortages of Franchise One significant issue for another business is foreseeing how much business it may appreciate, risking either income issues or the challenges related with overtrading. The turnover and benefit from any outlet will differ, contingent upon a wide scope of inside and outside factors. Each franchisee is relied upon to adopt a positive strategy to working up deals, albeit a normal pace of return of more than 20 percent is commonly expected over the lifetime of the establishment. With regards to beginning a business, numerous individuals consider purchasing an establishment as an alternate way to progress (Bernd H. 2008). While there is some reality to this, not all establishments are made equivalent, and not every person is removed to be a franchisee. 4Conclusion By explicit portrayals of numerous favorable circumstances of establishment and correlation them with its downsides, we can make the end that establishment is the most ideal method of universal business.

Phonological Development in Children Essay

Phonology is investigation of the sound arrangement of the language and the standards for their blend. There are around 200 sounds utilized in dialects all through the world. As we as a whole know, sound is the start of language learning. In figuring out how to talk, youngsters must get information on the phonological types of words and expressions of their local language and must become familiar with the articulatory and phonatory developments expected to create these words and expressions in a grown-up like way. Youngsters get familiar with their phonological arrangement of local language even since as youthful baby. They first year of an infant’s life which is before they can express their first word are known as prelinguistic stage. Kids don't express their first word until they are around one year old. At one month, they show all out impression of discourse. A perceptual capacity is capacity to fragment one sentence into singular word units. This capacity ordinarily prompts creation and along these lines helps in the advancement of discourse creation. Despite the fact that youngsters don't deliver their first word until they roughly year years old, the capacity to create discourse sound begin to create at an a lot more youthful age. After the mother conceiving an offspring, the youthful baby will create undifferentiated birth cry. Inside 0 to about a month and a half, the newborn child can deliver reflexive sound which are glottal catch and vowels, for example, ah, eh, and uh. In addition the newborn child likewise can deliver some assortment non-crying sound. They likewise produce separated cry which that genuine vocal correspondence starts. In the range 6 to about four months, newborn child begin to create cooing sound when they are cheerful. Additionally, they start to create single syllables and blowing bubbles. At multi month, newborn child despite everything lean toward baby guided contrast with grown-up executive discourse. Furthermore by multi month, baby have realized which highlight they need to focus on at the suprasegmental level, for example, sound and stress. At 5 months old, baby want to hear their own name to comparable sounding word. Then again, by half year old, they open more to their local language and begin to learn not to focus on sound that are not significant in their local language. The creation of vowel sound in the initial multi month lead to the creation of consonants. First back consonants ([g], [k]) are being produce around 2 to 3 months and front consonants ([m], [n], [p]) is having the option to deliver by newborn child at around a half year old. In the range 3 to half year, chattering starts impact by their local language. Likewise, they chattering show pitch and intonation change. They begin to deliver twofold syllables-VCV, for example, aga. Kids are likewise ready to assembles lips and state â€Å"m† and nasal tone is heard. Not just that, they additionally start to vocalize their pleasure and disappointment. Newborn children in this range will quit vocalizing when grown-ups enters and have self-started vocal play. They are additionally cooing, laughing, murmuring and giggling. At 7 months, they ready to portion word from discourse that shows a solid feeble pressure design, which is the most widely recognized pressure design in the English language. The procedure that permits newborn child to utilize prosodic prompts in discourse contribution to find out about language structure is known as ‘prosodic bootstrapping’ . While kids at 8 months old by and large don't comprehend the significance of the most single word yet, they still ready to comprehend the importance of specific expressions they hear a great deal. By 9 months old, newborn child can separate local from nonnative language. Youngsters utilizes [m], [n],[t],[d],[b],[p] and [y] in jabbering numerous syllables by 6 to 9 months old. They chattering tunefully or singing tones and uses a few of sound blend. They additionally start to have arched vocal play and pitch designs heard. Baby likewise duplicate pitch and discourse sound from the grown-up in their own collection. Reduplicative prat tling starts for instance bababa. From 9 to a year, kids vocalize during play and furthermore start to vocalize before reflect. They can babble noisily with wide assortment of sounds and pitches. Baby consolidate distinctive vowel and consonant into syllable string in vocal play and at this stage phonetic float starts. Newborn child likewise get variegated jabbering and joins various syllables in vocal play. At this stage, youngsters regularly have not yet started to talk and hence have no creation jargon however in the range 10 to 11 months old, children’s appreciation jargon size is around 11 to 154 words . During this transitional period from chattering to the expression of the primary word, youngsters likewise produce â€Å"protowords†. Protowords is concocted words that are utilized reliably to communicate explicit implications. In the range 1 year old to 1  ½ years old, newborn children ordinarily use language to impart. We can likewise hear some redundancy of words or echolalia. They are utilizes most vowels and consonants and some underlying consonant. Essentially, their articulations garbled with special case of a couple of words. Clarity alludes to the extent of the speaker’s yield that audience members can without much of a stretch comprehend. They ordinarily forget about conclusive consonant and some underlying consonant. By the scope of this age, they begin to create word in VC structure, for example, bo/pontoon and ready to emulates some word precisely. By 14 months old, kids as a rule produce their first word. First word is straightforward structure and contains similar sounds that were use in late chattering. At 16 months kids understanding jargon size extents from around 92 to 321 words. At this age, children’s creation jargon size at this age is normally around 50 words. Children ’s creation turns out to be progressively predictable around the age of year and a half. Inside 1  ½ to 2 years of age, children’s words expanding in recurrence and language nearly passed by 2 years of age. Generally, they will pose inquiries by raising pitch at end of expression. In addition, kids show improvement in comprehensibility. Roughly 65% comprehensible by 2 years. What's more, word delivered with CVC structure, for example, enormous show up at this scope old enough. Clarity improve when they at 2 to 2  ½ years old from 65% to 70%. In addition, they may skirt last consonant, diminish consonant mix and substitute one consonant for another. The size of the jargon creation is around 50 to 550 words. Youngsters additionally appear to develop their jargon quicker if the discourse they hear is identified with their focal point of consideration all the more frequently. At 2  ½ to 3 years of age, youngsters despite everything do some replacement and change of consonants. They keep on improving their coherence to roughly 80%. By this age they can aced consonants; [p], [m], [n], [w], [h]. Kids at 3 to 3  ½ years utilize last consonants the vast majority of time. At this age, Final-Consonant Deletion process, consonant digestion, diminutization, multiplying, prevocalic voicing, reduplication unstressed syllable cancellation and velar fronting ought to be gone. Kids become truly clear in associated discourse by age 3  ½ years to 4 years of age. They had aced consonants;[b], [d], [j], [g], [f], [y]. Besides, phonological procedure proceeds with which are bunch decrease, deplatalization, epenthesis, last devoicing, floating, halting and vocalization. In 4 to 4  ½ years, ought to be hardly any mistake and replacements of consonant in kids articulations. They become progressively coherent particularly in associated discourse. At the range 4  ½ years to 5 years of age, kids utilize most consonant sounds reliably and precisely. Despite the fact that, more blunders present in troublesome mixes. At 5 to 6 years of age, youngsters aced consonants, for example, t, ing, r, l. Follow by 6 to 7 years of age, they start to aced consonant, for example, voiceless th, sh, ch, j. Consequently, small kids have wonderful capacity to learn implications for the words they extricate from the discourse they are presented to. Obtaining of the language is unequivocally relate with condition. The phonological improvement ought to be know by guardians to identify any phonological issue on their youngster.

Blog Archive Monday Morning Essay Tip Opening Lines

Blog Archive Monday Morning Essay Tip Opening Lines As all good journalists will tell you, the key to writing a good newspaper story or opinion piece is to make sure that the very first line grabs the reader’s attention. Many authors also employ this tactic when writing books. Few of us may have read Herman Melville’s Moby Dick, but many of us know that the novel begins with three famous words: “Call me Ishmael.” A powerful first line can also stick with readers long after they have finished readingwe all likely recognize the phrase “It was a dark and stormy night,” but few of us may know that it is the opening line of a book by an obscure writer (Paul Clifford by Edward George Bulwer-Lytton). Although beginning an essay with a very short introduction is the norm, sometimes a punchy opening line can grab the reader’s attention in a useful way. Consider the differences between these pairs of openers. Which line in each example better captures your attention? Example 1: A “Why MBA?” essay: A: “After I graduate with my MBA, I want to work in the wine industry.” B: “Blood runs in the veins of all humans, but wine also runs in mine.” Example 2: A “What are you most passionate about in life?” essay: A: “There is nothing I enjoy more than playing ice hockey.” B: “As soon as the nearby river freezes, I wake at 6 a.m. each day and join my teammates for a prework scrimmage.” No set formula exists for opening lines. In fact, the possibilities are endless, and each opener depends on the context of the story being told. Nonetheless, our point is that you must carefully consider your opening line, because it will set the tone of your essay and determine whether your reader will want to read more. Share ThisTweet Monday Morning Essay Tips

U.s. Public Education System - 952 Words

The U.S. public education system contains tremendous inequality, much of which is maintained through the institution itself. We believe the system to be based on the principles of a strong work ethic and equal opportunity – key components of the dominant American ideology, which are in turn made reasonable by the schooling system. Furthermore, structural factors such as cumulative advantage, which explains how those who are successful gain additional success, offer an explanation for the inequalities in the school system that cannot be described or solved by money. Therefore, through the legitimation of the dominant American ideology and the process of cumulative advantage, the U.S. public education system perpetuates social inequality within the classroom and provides more power to those already born with greater life chances. In social theory, there is a long-standing debate over whether structure or agency is central in shaping human behavior. While structure refers to the underlying set of rules for how a society works, agency refers to the ability of the individual to exert choice or will within this structure. The interplay between these two distinct perspectives is key in shaping ideology: a way of seeing that appears natural and inevitable, and provides the rationalization for society’s structure (Marger 222). In the United States, the dominant ideology consists of various beliefs, including individualism, equality of opportunity, meritocracy, and work ethic (McNameeShow MoreRelatedU.s. Public Education System863 Words   |  4 PagesThe U.S. public education system has been a controversial topic for many years; by virtue of budget cuts, overcrowding, and lack of innovation which negatively impacted the effectiveness of schools. According to a report by Education Week, â€Å"29 nations and other jurisdictions outperformed the United States [in mathematics] by a statistically significant margin (Heitin). Coupled with the 19th and 22nd ranking of literacy and science respectively, it is evident students are not receiving a quality educationRead MoreU.s. Public Education System854 Words   |  4 PagesThe U.S. public education system has been subject for debate for many years now, budget cuts, overcrowding and lack of innovation have severely impacted the effectiveness of our schools. As a result, according to a report by Education Week, â€Å"In mathematics, 29 nations and other jurisdictions outperformed the United States by a statistically significant margin, up from 23 three years ago† (Heitin). Coupled with our 19th and 22nd ranking of literacy and science respectively, because of this, we canRead MorePublic Education : The United States912 Words   |  4 Pages Public education is a good that is privileged to everyone in the United States. While education may seem extensive and unnecessary, especially to youth, achieving an education has benefitted people through the history of the U.S., which in turn benefits the U.S.’s welfare. When Thomas Jefferson advocated the opening of public schools in the early 1800s, his plan was only half fulfilled; only wealthy communities could afford public schools (Watson 2). This remained true until the early to mid 1900sRead MoreA Discussion Of Constitutional Law And Its Relationship With Education1031 Words   |  5 PagesLaw and Its Relationship with Education Education is not explicitly mentioned in the United States Constitution, but instead, education is one of the powers reserved to the states. Power not specifically given to the federal government is reserved for the states through the Tenth Amendment of the Unites States Constitution. Therefore, states have plenary, or absolute, power in the area of education. While states may hold this reserved power, with regard to education the federal government has foundRead MoreRelations Between The United States And The Europe1691 Words   |  7 PagesPeterly Jean Baptiste US- EU relations Introduction Relations between the United States and the Europe dates back as far to 1950. Back in those days the U.S dealt with the ECSC, European Coal and Steel Community. The ECSC was created in the wake of WWII, established by the Treaty of Paris, with the sole purpose of uniting Europe which had been hammered by three increasingly destructive wars. The ECSC’s objective of unity was forged through the creation of a free trade area for several key economicRead MoreComparing Germany s Education System859 Words   |  4 PagesIn comparing and contrasting Germany’s Education System to the U.S Education System, one would find both similarities and differences; however, one enormous difference is that tuition is free to the students in the Germany’s Public School System and higher educational institutions (Flippo, 1996). More importantly, Parks (2014) explained, that if an American wanted to be educated in Germany, the tuition would be free, but in order to obtain a bachelorà ¢â‚¬â„¢s degree in Germany, the American student wouldRead MoreComparative Analysis on Education System Between France and the U.S. 1370 Words   |  6 PagesComparative Analysis on Education System between France and the U.S. Throughout our lives, we acquire knowledge and as we continue to grow, so does our learning process. Everyday we learn something new, whether it be about ourselves or the way life seems to work. People strive to educate their children in order to prepare them in becoming a fruitful member of society. It starts off while being a young child; we obtain information through our parents or close relatives. However, as we grow up,Read MoreThe Face Of Education And The Changes It Has Undertaken Throughout History1425 Words   |  6 PagesThe face of education and the changes it has undertaken throughout history in the U.S. is a constant flow that thus alters the fabric of the American society. To provide an educated workforce for the future has been the job of educators for centuries, but with a greater immigration movement and presence, an educator s’ ability is limited and the fate of such children are left to suffer. Pulling from America’s position as a â€Å"melting pot † of different cultures and people, students should not be subjugatedRead MoreGovernment Accountability918 Words   |  4 PagesThe U.S Department of Education as is seen as being under the supervision of the President. In addition, the accountability of the public institutions in the United States is primarily relies on the regulation rather than the public participation (Chandler, 2000). He argues that the laws provide an adequate accountability for the public administration. Although the U.S. Government has the Freedom of Information Act which allows people to seek information about the government programs and activitiesRead MoreImmigrant Children and U.S Education1257 Words   |  6 PagesAware of the free education provided by the United States government to any school age children, immigrants both legal and illegal continue to be attracted to the United States, migrating in an attempt to provide better opportunities for their families and themselves. As the number of i llegal immigrants living in the United states continues to rise and the percentage of illegal immigrant households which consist of children also continues to rise, it is important for the American government to examine

Biography of Artist Romare Bearden

Overview Visual artists Romare Bearden portrayed African-American life and culture in various artistic mediums. Bearden’s work as a cartoonist, painter, and collage artist spanned the Great Depression and post-Civil Rights Movement. Following his death in 1988, The New York Times wrote in its obituary of Bearden that he was â€Å"one of America’s most pre-eminent artists† and â€Å"the nation’s foremost collagist.† Achievements Established the 306 Group, an organization for African-American artists in Harlem.Co-wrote the jazz classic, â€Å"Sea Breeze,† which was later recorded by Billy Eckstine and Dizzy Gillespie.Elected to the American Academy of Arts and Letters in 1966.Elected to the National Institute of Arts and Letters in 1972.Elected to the National Academy of Design as an associate member in 1978.Awarded the National Medal of Arts in 1987.Established the Bearden Foundation to provide support to young visual artists.Listed as one of Molefi Kete Asante’s 100 Greatest African Americans. Early Life and Education Romare Bearden was born on September 9, 1912 in Charlotte, N.C.   At an early age, Bearden’s family moved to Harlem. His mother, Bessye Bearden was the New York editor for the Chicago Defender. Her work as a social activist allowed Bearden to be exposed to artists of the Harlem Renaissance at an early age. Bearden studied art at New York University and as a student, he drew cartoons for the humor magazine, Medley. During this time, Bearden also freelanced with newspapers such as Baltimore Afro-American, Collier’s, and the Saturday Evening Post, publishing political cartoons and drawings. Bearden graduated from New York University in 1935. Life as an Artist Throuhgout Bearden’s career as an artist, he was heavily influenced by African-American life and culture as well as jazz music. Following his graduation from New York University, Bearden was attending the Art Students League and working with expressionist George Grosz. It was during this time that Bearden became an abstract collage artist and painter. Bearden’s early paintings often depicted African-American life in the South. His artistic style was influenced heavily by muralists such as Diego Rivera and Jose Clemente Orozco. By the 1960s, Bearden was innovative art works that incorporated acrylics, oils, tiles, and photographs. Bearden was heavily influenced by 20th century artistic movements such as cubism, social realism and abstraction. By the 1970s, Bearden continued to depict African-American life through the use of ceramic tilings, paintings and collage. For instance, in 1988, Bearden’s collage â€Å"Family,† inspired a larger artwork that was installed at the Joseph P. Addabbo Federal Building in New York City. Bearden was also heavily influenced by the Caribbean in his work. The lithograph â€Å"Pepper Jelly Lady,† portrays a woman selling pepper jelly in front of a wealthy estate. Documenting African-American Artistry In addition to his work as an artist, Bearden wrote several books on African-American visual artists. In 1972, Bearden coauthored â€Å"Six Black Masters of American Art† and â€Å"A History of African-American Artists: From 1792 to Present† with Harry Henderson. In 1981, he wrote â€Å"The Painter’s Mind† with Carl Holty. Personal Life and Death Bearden died on March 12, 1988 from complications from bone marrow. He was survived by his wife, Nanete Rohan. Legacy In 1990, Bearden’s widow established The Romare Bearden Foundation. The purpose was to preserve and perpetuate the legacy of this preeminent American artist.   In Bearden’s hometown, Charlotte, there is a street named in his honor along with a collage of glass tiles called â€Å"Before Dawn† at the local library and the Romare Bearden Park.

Organizational Behavior System in Jgtdsl, Bangladesh

Introduction: - Organizational Behavior (OB) is the study and application of knowledge about how people, individuals, and groups act in organizations. It does this by taking a system approach. That is, it interprets people-organization relationships in terms of the whole person, whole group, whole organization, and whole social system. Its purpose is to build better relationships by achieving human objectives, organizational objectives, and social objectives Elements of Organizational Behavior:- The organizations base rests on managements philosophy, values, vision and goals. This in turn drives the organizational culture which is composed of the formal organization, informal organization, and the social environment. The culture†¦show more content†¦This process is known as Action Research. 5. Contingency Orientation: Actions are selected and adapted to fit the need. 6. Change Agent: Stimulate, facilitate, and coordinate change. 7. Levels of Interventions: Problems can occur at one or more level in the organization so the strategy will require one or more interventions. An organizational behavior system:- [pic] Figure – An organizational behavior system Elements of the system Philosophy- the philosophy of organizational behavior held by management cconsist of an integrated set of assumption and benefits about the way things are the purpose of these activities , and the way they should be. The philosophies are some times explicit and occationally amplict, in the mindes of managers. Five major organizational behavior philosophies- autocratic, custodial, supportive, collegial, and system-and their implication are bdiscussed later in this assignment. Values:- Values can be defined as those things that are important to or valued by someone. That someone can be an individual or, collectively, an organization. One place where values are important is in relation to vision. Values are the embodiment of what an organization stands for, and should be the basis for the behavior of its members. Vision- vision represents a challenging portrait of what the organization and its members

Profit Allocation Market

Question: Write an essay on estimations and comparisons the risks. Answer: The ratio provides an in-depth knowledge about the market price of steel and tubes. It has been observed that the pricing strategy for its steel product is high in comparison to the price prevailing in the market and other competing firms. It is noteworthy to underpin that the organisation may find it difficult to penetrate into the market into other nation market since it has high pricing policies. It is important to determine that market pricing is an important factor in determining the companys market penetration strategy. If the business is dependent on the heavy manufacturing plant it needs to re-consider its pricing strategies (Hull, 2014). Higher overhead cost for 15mm bar: It has been observed that the cost of overhead has been very high for 15m bars. It is understood that the indirect cost of overhead is higher than the direct cost of allocation. The reasons for such misstatement are the improper allocation of cost of overhead under various heads of direct and indirect costs. The direct cost allocated for the direct cost of 15m bar is observed as $909 which is seen as the highest in compare to the 9m and 12m which is only $715 and $ 860. The company has already set its pricing strategies at a higher level and if it further increases its allocation of the overhead price then the company will lag behind in competition in compared to the other companies in the market. As the price will exceed the competitors price. (Sage, 2015). Profit allocation should be in accordance to the market: Improper allocation of selling general and administration expenses: It is understood that improper allocation of selling and administration expenses creates an unwanted burden over the cost of allocation, which is ultimately reflected in the selling and distribution overhead. The table reflects that the amount of selling and distribution overhead. It has been stated that the company does not follows a standard form of profit allocation and this leads to improper revenue generation of the business. The identification of such risks could poses a threat for the company as in the long run direct cost though tends be uniform but the indirect cost is variable element. This may fail to provide the organisation a clear picture regarding the financial stability. (Sadgrove, 2015). Moreover, the companies dealing with multiple lines of product, it is observed that the product dealing with the lowest size of the like 9m bars has more number of sale than the higher size of products like 15m bars. In this way we can see that the company will be able to increase the gross profit ratio if it increases the sale of the 9m bars as the sale of such category of items will further increase. On the other hand if the company decrease the price of the 15m bars then it will be able to increase the sale of such products to some extent can earn more profits. Re-examination of 9mm bar cost of production: It is assumed that the competitors also charge the profit rate more or less similar to the rate of the organisation. From the above stated chart it has been observed that the cost of 12 m bars and 15 m bars used to maintain the moderate difference from the selling price in relation to the competitors. Whereas, the cost of 9m bars is very close to the selling price of the competitors. Hence, it can be stated that the production cost of 9m bars are not at par with the average industry cost. The above stated analysis states that such factors could be considered as one of their potential business risks (Kendrick, 2015). We can also observe that the in case of the 9m bars the difference with the competitors price is the highest with difference of amount $417.50. This is a large gap when compared to the competitors prices. In order to bridge the difference the company needs to see the various costs allocating in the direct and indirect overheads and reduce the cost of production. It is evident that the competitors are still able to earn huge amount of profits even by setting the prices lower than Steel tubes. The difference of the competitors price in case of 12m and15m bars is $ 300 and $287.50. So even if the company reduces the prices to some level still it will be able to properly allocate its profits and compensate the lower profit earned with the 9m bars. The operating performances of the roofing product segment are evaluated in accordance to the cost efficiency profitability, material usage and labour efficiency of each roofing product. Cost Efficiency Profitability:- From the broader aspect, the performance of any product or service is judged by the profitability parameter. The ultimate goal of every business is to optimize its profit. On the other hand, the amount of profit use to depend on the production cost and the profit policies of the organization. Therefore, to measure the performance of the operation, both the cost of production, related expenses and the profit or loss, generated from the operation should analyzed with utmost care. The amount of cost, sales and profits of the roofing products are compared in the following graph:- From the above graph, it is clear that the cost of goods sold of Albany is lowest and Upper Hut use to have the highest cost of goods sold. The cost of Manukau and Hamilton are moderate and almost at par with each other. Manukau use to have highest sales figures. Next in the list are Albany, Upper Hut and Hamilton. The gross profits of the products also follow the same trend. It can be explained from the analysis that from the cost perspective, though, Albany and Manukau include lower cost than Hamilton and Upperhut, these two products generate more sales amount and provide more gross profit than the other two products. It implies that Hamilton and Upperhut are less profitable for the For further analysis, the gross margin ratio and the operating margin ratio are presented below along with graphical representations:- Particulars Albany Manukau Hamilton Upper Hutt Gross Margin Ratio 0.42574592 0.426400134 0.348156824 0.394966206 Operating Margin Ratio -0.0006741 0.017407249 0.002280771 -0.023233483 The above charts denote that Upperhut has generated net deficit after the deduction of other non-operating expenses. Though Albany has provided high gross profits, it has also generated deficit. It indicates that the non-operating expenses of the business are not properly allocated or spent effectively. Material Usage Efficiency:- The cost profit can be effected by various factors. In the above charts, it has been observed that the cost of goods sold of Hamilton and Upperhut is higher than the other two products, but, both the products has failed to generate high sales volume to cover the additional costs. The major part of the cost of goods sold is consisted by the cost of materials. Hence, to determine the actual reasons for the higher costs, the material usages for each product should also be analyzed (Mattes et al., 2013) The production capacity and the actual production of each products are compared below:- Particulars Albany Manukau Hamilton Upper Hutt Capacity (kgs) 15,608 20,273 18,216 21,806 Production (kgs) 10,460 15,494 15,819 15,246 Apart from the capacity, the material wastage of the four products are also scrutinized in the following chart:- The graph indicates that Albany and Uppercut have the higher percentage of wastage in comparison to other products. Labour Efficiency:- The labour cost also has to be analyzed, as apart from material, manufacturing cost includes higher amount of labour cost also. The following chart graph helps to represent the labour efficiency of each product:- Particulars Albany Manukau Hamilton Upper Hutt Labor Overtime 5.00% 12.00% 0.00% 5.00% Idle time 27% 14% 0% 21% Admin support staff (number) 3 4 4 3 Amongst the four products, there is no idle time and labour overtime for Hamilton. The not very high. Whereas, the idle time rates of Albany and Upperhut are very high and the differences with the labour overtime are also very high (Wu et al., 2013). Effects of the material usage and labour efficiency variance The above analysis shows that the wastage of Albany and Upper Hart has been the highest and rate of variance in terms of capacity and production is also high. Due to this variance of capacity and production amount although the company is able earn gross profit but it incurs net loss. Another reason for this difference in profit has been seen due to increased amount of idle time for both Albany and upper hart. It has been observed that the labours are inefficient due to the idle time and variance in case of both Albany and upper hart. The wastage further implies that the labours are not able to properly utilize the available resources. Action plan for new product: Detailed recommendations of the action plan for improving the business: The sections of the company Albany and upper hart are not utilizing the resources efficiently. It has been observed that the gross profit margin of the Hamilton section is the lowest and company should take effective action in order to control the various cost constraints in order to maintain the costs related to materials and direct labor. It has been also seen that the cost of goods sold of the upper Hutt is highest and it should take measure to control the cost components for the same. Whereas cost of goods sold of Albany is low. In terms of materials usage it has been observed that Upper Hutt utilizes highest amount of resources and gives least amount of production. Business planning: The study highlights that Steel and tube ltd has ignored the areas of strategic planning for the last three years. It is evident that the operating results are obtained and lack of administration is major elements to be considered. On the other hand it is note the absence of proper planning procedure is contributing factor of the down turn of the business (Laguna, Marklund, 2013). Recommendations: The directors and the owners should review the existing mode of functional operations and develop a strategic planning approach for long term business perspective. Once the goals have been set the directors and the executives concerned with the day to day operations of the business. The owner concerned must hold up meeting with the staff members to discuss the goals and objective of the business. An implementation plan must be developed by the business to keep a track of the policies in order to measure the functional operation personality of the business so that it can ensure that the results are within the objective of the business. Financial: The present budget that has been placed for operations is not reflecting the true affair of the business. Such leads to the financial measure, which is not in line of the current activities of the operations. Recommendations Once the areas of strategic planning are implemented, a new budget should be developed to align with the financial strategies and plan which needs to be addressed to obtain the financial outcomes for long-term business plans. Forecasting the both the elements of the statement of profit and loss account and cash flow statement should be prepared on monthly basis to ensure the that the short term plans for strategic planning are in accordance with the objectives of the business. After trading for a period of six months under the new strategic plan, an in depth review of the operations results should be determined to assure that the co-operation will yield result to business profitability. Efficient use of resources: Productivity: Analysis of staffing indicated that the degree of staffing was highly one of the benchmark, hence of the staffing and their productivity are major area of concern. Productivity is one of the elements of sales income in order to increase the productivity an increase or decrease in sales is necessary. When the staff roaster was reviewed in contrast to the daily trading it was viewed that the lowest number of staff were present during the highest trading days. This highlights that current policies for weekends was allowed for only one member to provide the service during the peak production seasons (Rao, 2014). Recommendations: A detailed structure of staffing and the responsibilities should be used to counter such issues to determine the viability of such operations. Key responsibilities should be shared with the staff members where possible. Creating a position of description for all staff members as the roles of all the members are to be documented with the position describing the areas to be agreed with each other staff members. Implementing the accountability through the key performance indicator for each of the staff members. Working capital management: Stock management: Gross margin of profit for the current year has been on declining from the previous year which is below the bench mark of the data given. Is has been observed that there is a substantial increase in sales and it appears that reduction will be due to stock issues (Ivers et al., 2013). Recommendations: Though the mark up on the stocks were adjusted twice during the current fiscal year to reflect the higher purchase price of goods for further analysis to increase the gross margin highlighted in order to increase the gross margin in freight. Included in the cost of goods sold to write off during the financial year as this can be recognised that destroyed stock are identified as an unaccounted losses is can be realised at stock undertaking. The CEO needs to consider various types of internal and external risks for the financial year 2016. Tubes and steel needs to control various activities which generally include approvals, authorizations, performance reviews and segmentation of the various roles within the organization. The understanding of the internal risks ensures that the financial information obtained related to various products is accurate and reliable and facilitate in achievement of the various business objectives. In order to implement good internal control the CEO of the company should monitor the cost constraints of all sizes of the steel bars which are needed for production. It also needs to consider the internal prices policies of 9m, 12m and 15m steel bars. For effective implementation of the internal risks the company needs to communicate the various risk at staff level and breakdown the internal controls. The external risks are typically those risks which the companies dont have any control and they are driven by the market forces. The company is likely to face the risks of increased completion in the steel industry such as Arcelor Mittal, Hebei Steel Group, Nippon Steel and Sumitomo Metal Corporation. Due to increased cost of production and the company is bound to face fierce completion in the steel section. The company will also face competition from tyre companies such as Bridgestone, and Goodyear. The management of external risk has little to do with controlling he external factors and more to do with mitigating the risks. The CEO should always keep himself updated with the various potential market risks so that it is able to increase its returns and gross profit margin for the year 2016 (sterle, 2013). Pricing: Pricing forms an important part of profitability for Steel and tubes as business firms depends upon the products and price of the product. It is important to assure that pricing and selling offers more profit to the business. Implementing appropriate pricing policies and reviewing it on regular basis which must be in accordance with the line of cost. The executives and the managers must be taking the initiative about how establish balance between the pricing strategies and range of products. In order to continuously improve the performance, Steel Tubes needs to evaluate its operations or processes related to products, services and marketing strategies. In order to evaluate the performance of the business Steel Tubes needs to adopt benchmarking strategies. It needs to compare its performance with various other companies in the market. The various performance metrics of the evaluation and benchmarking assists the business operations or processes to become more productive and efficient in their operations (Haney et al., 2013). The single-measure based on the gap analysis is used as fundamental technique in the performance evaluation. The single output or input measures is based on the evaluation of the performance on the basis of financial ratios. The roofing products based on the financial rations suggests that fixed asset turnover (FAT) for the Albany product has been the highest with FAT ratio of 10.93, we also see the Hamilton products is lowest with only 5.25 units of FAT. The return on investment of roofing products states that the highest return that the company has been able to earn is from Albany and Manukau (Zhu, J. 2014). 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