The New Jim Crow Mass Incarceration During The Age Of...

In the new proactive book, The New Jim Crow: Mass Incarceration in the Age of Colorblindness, Michelle Alexander dives into the not so complicated racial issues that plague this country that we tend to ignore. In all of history, African Americans have had to constantly fight for their freedoms and the right to be considered a human being in this society. It’s very troubling looking back and seeing where we have failed people in this country. At the turn of the century, when people began to think that we had left our old ways behind, this book reminds us that we are wrong. Racism is still alive today in every way, just in different forms. The politicians of America like to hide or mask this new form of racism and control by a way that we†¦show more content†¦We approximately have 5 percent of the nation’s population, but we have over  ¼ of the world’s prisoners. This number is still increasing at an alarming rate. Since the 1980’s the prison population has increased to 2.2 million men and women. In all of the world, we are the leaders in incarceration. Most of the people being arrested and charged are for drug related offenses. This significant increase in prisoners is due to the War on Drugs started by Ronald Regan. Alexander claims that the sole reason that the war on drugs was started was to maintain the racist nature that faces America. Alexander realizes that even though the Jim Crow Laws were eradicated, we have just reshaped the ways in which we decide to ruin lives. As the old adage says, â€Å"The more things change, the more they remain the same†. I think to a certain point Americans need to have reassurance that things really are changing and here’s where Jim Crow ends, but in the background the powerful people in this country had to come up with a new plan to feed their racist nature. One politician after another want to show how tough they can be on drugs. Each wanting to be stronger than the other. They didn’t care who they were hurting on the bottom, as long as they looked extra tough. The main race being incarcerated and targeted is African Americans. For years, poor neighborhoods have been targeted by police, whose main purpose was to find drugs by any means

Art Review Free Essays

IJerry Saltz takes into consideration how Fischer uses materials that contrast in order to stimulate a mood similar to the mood evoked by a variety of places such as â€Å"the sacredness of churces, the austerity of courtrooms and the mysteriousness of research laboratories† (Saltz, 2007). The utilization of brown earth and stark white walls lends a very erotic energy to this piece; viewing the gallery is an exhilarating experience because the gallery itself is the artwork. Saltz also cites the various inspirations of Fischer’s work; he mentions several names. We will write a custom essay sample on Art Review or any similar topic only for you Order Now For instance, Saltz says that Fischer’s â€Å"extraordinary gesture touches on the tradition of indoor earthworks that includes pieces from the sixties and seventies by Gordon Matta-Clark, Robert Smithson, Walter De Maria, Michael Heizer, Chris Burden, and others† (2007). Saltz also likens Fischer’s work to something â€Å"unmoored† like a Tiepolo or a Corregio painting (2007). For Saltz, the greatest significance of You is the way it defies conventions. Over the years, Gavin Brown’s Enterprise has been a venue for artists’ exhibitions such as Chris Ofili, Jake and Dino Chapman, Piotr Uklanski, and Anselm Reyle (2007). Previous exhibitions make artworks look like â€Å"products lined up for sale† but You is a kind of a â€Å"warning sign† because â€Å"it makes fun of these conventions† (2007). This writer agrees with Saltz in that sense because for many people, it is quite a surprise to encounter a gallery that is an artwork in itself. Appreciating You is a thrilling experience it gives the viewer an â€Å"I-can-see-everything† feeling (2007). The viewer feels like he or she is indoors and outdoors at the same time. For the art review essay, this writer will use the effect of the materials and the treatment of landscape and space in contributing a certain mood. Also, this writer will use the composition of the design. How to cite Art Review, Papers

Accounting in Business Research Methods GAAP Financial Measures

Question: Discuss about the Accounting in Business Research Methods for GAAP Financial Measures. Answer: Introduction According to Skadden et al. (2012), companies generally supplement their projection of reported earnings as per U.S. Generally Accepted Accounting Principles (GAAP), but very often, it has been found that with the inclusion of non- GAAP Financial measures the companys operations and financial position can be assed in a better way by the investors. A non-Financial measure is known as the numerical measure, which has been derived from the companys historical or the future financial performance, cash flows and financial position that may be comparable to the GAAP measures. The enforcement of this concept emphasizes the companies to include adjusted earnings, which is also known as pro forma earnings, or the Non-GAAP earnings. Hence this report intends to shows the importance of the declaration of the Non-GAAP earnings and study about the implications. Aim and motivation of the research Aims The report aims to show how the disclosure of Non-GAAP Earnings is more persistent than the GAAP Earnings. The report also highlights on the characteristics laid down by IASB conceptual framework, which shows how the consideration of pro-forma earnings may improve the quality of financial reporting. Motivation for the research The GAAP Accounting standards are known to offer uniformity in reporting of financial performance of the company however, the reporting standard may exclude the income statements ongoing performance of the companys underlying operations. This may include restructuring the companys operations or writing down the value of assets. The large one-time costs are often known to interfere with companies profit as a result many medium-sized companies are known to provide adjusted earnings as a measure to exclude the non-recurring items (Business Insider. 2016). Hence the report aims to provide the rationale for including the different types of the underlying operations of the Non-GAAP financial report (Curtis et al. 2013). Research objectives The main objective of the report depicts the implications of the GAAP and Non-GAAP accounting standards on the financial statement. The objectives also include to show the present guidelines provided in the GAAP financial reporting and the scope to include fairness in the reporting standards with the inclusion of the non-GAAP financial reporting. The study intends to show the effectiveness of the non-GAAP components in Small and medium enterprises which comply with the GAAP standards. The main point highlighted in the research study will be related to the use of the decision-making and the ethical use of the GAAP and the non-GAAP component of the financial statement. Background and Literature Review Background As discussed by Johnson et al. (2014), the research shows how the disclosure of Non-GAAP earnings is useful to the investors in prediction of future earnings. The research deals with disclosure of this information is particularly beneficial to the equity investors as it includes the cross-sectional variations by assessing the nature of the solutions made regarding what is transitory versus recurring. The study further shows how with the inclusion of Non-GAAP earnings, the Investors can be supplemented with useful information for earnings before interest, income taxes, depreciation, amortization and stock compensation (EBITDAS). Literature Review According to Malone et al. (2016), the various types of implications in the disclosure of non-gap earnings will help the analysts to understand the organizations performance, financial condition and cash flows in a better way. Hence the study proves to show, how the inclusion of non-pro forma earnings leads to less error in the forecasted value and dispersions in the following year. The research further shows how the use of non-gap earnings should caution the investors in the fundamental analysis and the company should declare that the various assumptions are based either on the historical data or on the future measures, which are non-compliant with any standardized rules or regulations as per stated under GAAP (Venter et al. 2014). Research Questions Some of the problems and the research topics are relevant to the present assignment are based on the following questions prepared for the purpose of the report: What are the contemporary issues in the present GAAP standards of the financial reporting? What are the essential disclosures made in the Non-GAAP financial reporting? What are the essential disclosures made in the Non-GAAP financial reporting that is not present in the GAAP accounting standards? Who will benefit from the disclosure made in the Non-GAAP financial reporting? Research Design and methodology Research Design The main considerations are based on the qualitative and explanatory research method, which shows the inclusion of Non-GAAP Earnings in an organizations depreciation, merger costs, taxes, interest, goodwill and stock based employee pay. Research Methodology The main method used for the collection of the data is based on the qualitative analysis of the several issues discussed in the contemporary accounting. The research methodology is based on the gathering of the data from the different sources in order to know about the various components of the Non-GAAP financial reporting. The methodology is used to address the various types of the research questions framed in the assignment. The different types of the measures considered for the methodology includes the scope of the open-ended questions asked to the management accountants. This is useful for considering the qualitative aspects of the research data. Data collection method Stages Description Identification of the several issues in the present GAAP standard of reporting and the importance of the Non-GAAP financial declaration 1) Primary data collection is based on questionnaire method 2) The secondary data is applied from the journal stating the importance of the Non-GAAP reporting, articles and the websites of small and medium companies. Sources of secondary data 1) Internal Sources Annual Report of Perficient Inc 2)External Sources Journals, Articles, Newspaper, Websites, Financial Magazines Methods used for collecting primary data Interviews Sampling Frame Investors and financial analysts Selection of the sample size The sample size consist of 50 investors in the Perficient Inc. and 50 financial analysts Sampling methods used Financial analysts - simple random sampling Investors - Convenience sampling Data storage Using Relational database module SQL server 2014 Data Analysis Data analysis will been done by using MS Excel Resources Evaluation Finance resource, Time and manpower Source of the data: Primary Data The primary data collection is based on the interview conducted from the different investors of the selected company and the financial investors. Secondary Data The decision to show the usefulness of disclosing Non-GAAP earnings is based on journals, articles, websites and annual reports of company. Some of the journals reviewed to show the rationale of going in favor of the Non-GAAP financial measures decisions are based on The Impact of the FMA Guidelines of Non-GAAP Earnings Disclosures by Elizabeth A. Rainsbury, IFRS Non-GAAP earnings disclosures and fair value measurement by Lance Malonea, Ann Tarcab and Marvin Weeb. Reviewing of articles such as Corporate Finance Alert by Skadden, Arps, Slate, Meagher Flom LLP. The main source of information will be extracted from studying the non-gap financial exposures from the annual report of Perficient Inc. for the year 2014. This report clearly shows the use of reconciliation of GAAP to Non-GAAP measures. Analysis of the annual report shows the relevance of Non-GAAP financial exposure in terms of EBITDA, in the net income section of the company. Figure 1: Non- GAAP financial measures in adjusted net income (Source: Phx.corporate-ir.net. 2016) Figure 2: Non- GAAP financial measures in EBITDAS (Source: Phx.corporate-ir.net. 2016) Data analysis The data analysis technique is based on the use of simple random and convenience sampling. The simple random sampling technique is ideal for the financial analysts following the GAAP reporting standards and the collection of the sampling data is based on both positive and negative responses related to the benefits of the disclosure of the Non-GAAP financial earnings. The convenience sampling method is ideal for the easy to reach investors of the Perficient Inc. Contribution and conclusion of the research As stated by Rainsbury and Hart (2014), In order to prevent misleading the users indication of non-gap information some of the key considerations to be made in the research study are listed below as follows: Criteria Description 1. Justification by the directors The directors of the company should provide a statement clearly stating the usefulness of the generation of non-gap information to the investors. 2. Prominence in reporting It has to be made sure that the disclosure of the information should be free from undue prominence, authority or emphasis. 3. Differentiation The disclosure should be done in such a way that it clearly segregates the information available in GAAP vs. Non- GAAP financial measures. 4. Drawing information from audited or reviewed financial the company should clearly state in case the Non-GAAP information is sourced from audited financial statements 5. Reconciliation approach Significant adjustments made in the non-gap information clearly explain the breakdown of the calculations for reconciling the Non-GAAP information Moreover, it has to be considered in the research study once the GAAP measures are applied to the assets and other items, the consideration of positive pro forma earnings can become negative. Reference List Business Insider. (2016). CHART OF THE DAY: Here's How You Should Think About 'Adjusted' Earnings. [online] Available at: https://www.businessinsider.in/CHART-OF-THE-DAY-Heres-How-You-Should-Think-About-Adjusted-Earnings/articleshow/27979957.cms [Accessed 15 Aug. 2016]. Curtis, A.B., McVay, S.E. and Whipple, B.C., 2013. The disclosure of Non-GAAP earnings information in the presence of transitory gains. The Accounting Review, 89(3), pp.933-958. Johnson, A., Percy, M., Stevensonà ¢Ã¢â€š ¬Ã‚ Clarke, P. and Cameron, R., 2014. The Impact of the Disclosure of Nonà ¢Ã¢â€š ¬Ã‚ GAAP Earnings in Australian Annual Reports on Nonà ¢Ã¢â€š ¬Ã‚ Sophisticated Users. Australian Accounting Review, 24(3), pp.207-217. Malone, L., Tarca, A. and Wee, M., 2016. IFRS nonà ¢Ã¢â€š ¬Ã‚ GAAP earnings disclosures and fair value measurement. Accounting Finance, 56(1), pp.59-97. Phx.corporate-ir.net. (2016). Perficient - Investor Relations - Financial Reports. [online] Available at: https://phx.corporate-ir.net/phoenix.zhtml%3Fc%3D83872%26p%3Dirol-reports [Accessed 15 Aug. 2016]. Rainsbury, E.A. and Hart, C., 2014. The Impact of the FMA Guidelines of Non-GAAP Earnings Disclosures. Unpublished working paper. Skadden, A., Slate, M. and Flom, L.L.P., 2012. Corporate Finance Alert. Venter, E.R., Emanuel, D. and Cahan, S.F., 2014. The Value Relevance of Mandatory Nonà ¢Ã¢â€š ¬Ã‚ GAAP Earnings. Abacus, 50(1), pp.1-24.

Olivers life Essay Example

Olivers life Essay After nine years with Mrs Mann, Oliver is moved to the workhouse to undergo even more pain and suffering where the boys are so hungry that one boy says he is scared that he will eat the boy that sleeps next to him. Eventually the starving boys decide that one of them will ask for more at the next meal and they come up with a way of deciding it and, as it turns out, Oliver gets the short straw and ends up saying Please sir, I want some more. Mr Bumble almost cant believe what Oliver has said and his face turns pale and he stumbles and clings for support. This is one of the most important parts of Olivers life because it changes the path of his life completely. Straight away he is marched down to the market by Mr Bumble offering Oliver together with five pounds. Eventually they come across Mr Gamfield, a vicious chimney-sweep who offers to take Oliver on as an apprentice for 5 pounds which is later lowered to 3. Mr. Bumble, Mr. Gamfield, and Oliver appear before a magistrate to sign the documents for Oliver to be taken. At the last minute, when he was looking for his inkbottle to sign the document, the magistrate notices Olivers pale face. He asks the boy why he looks so petrified. Oliver tells the magistrate that he would rather be beaten or killed rather than being an apprentice to Mr. Gamfield. We will write a custom essay sample on Olivers life specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Olivers life specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Olivers life specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The magistrate refuses to allow Oliver to be an apprentice. This is also a big turning point in Olivers life as a hint of fate comes in that if the ink bottle had been in the right place he would have been a chimney-sweep but he is put back for sale again and a kind undertaker called Mr Sowerberry takes him on trial for one week. His wife, Mrs Sowerberry, is not a very nice person and as soon as Oliver enters the shop she remarks that he is very small, only for Mr Bumble to assure her that he will grow but she isnt happy and says I dare say he will on our bittles and our drink and complaining that the workhouse boys always cost more than they are worth. Mr Sowerberry points out that Oliver is a good-looking boy and would make a good mute in proportion. This is the only time we get told about Olivers facial features this links back to the beginning of the book where Oliver is branded and described as it.  Noah Claypole works under the Sowerberrys he is slightly higher in the hierarchy of the lower class yet he still has a go at Oliver just because he has some little form of power. He keeps saying to Oliver Hows your mother, Workhouse Oliver tries to be nonchalant about this and gets on with his job even though it is bothering him. Eventually Noah gets on his nerves so much by saying your mother, she was a nice one, a regular right down bad one. Its a good thing she died when she did otherwise shed be in prison doing hard labour even though Noah doesnt have a clue who Olivers mum is. Eventually Oliver lashes out at him and jumps on him and starts punching him. Noah is a coward because he starts screaming to get people in the room and when two people have Oliver pinned Noah takes two cowardly cheap shots from behind. Then Noah runs to get Mr Bumble from the Workhouse and they lock Oliver in the cellar until they can decide what to do with him. In the cellar Oliver escapes and decides to walk to London and there he finds Jack Dawkins, more commonly known as The Artful Dodger. Oliver tells him that he has come to London to make his fortune. At this The Dodger says I suppose youll want some place to sleep tonight and this takes Olivers fancy since he has no lodgings and no money and so he agrees. The Dodger says as it happens I know a rather kind and respectable gentleman wholl give you lodgings for nothing. Oliver follows him to Fagins hideout where the children are sat around playing cards, smoking and drinking gin. Fagin is a good man that bad things have happened to and Oliver is very grateful because he would have probably died of starvation if Fagin had refused to take him in. Fagin then tells Oliver to make The Artful Dodger his role model because hes going to be a right little Bill Sykes. During Olivers first night he wakes up and sees Fagin looking at all his stolen treasure. Fagin then gets really concious that Oliver will tell the authorities and so he threatens him with a knife to the throat. The next day Oliver wants to go on his first job with The Dodger, so Fagin thinks it over and agrees. During the job The Dodger steals an elderly mans wallet who we later know as Mr Brownlow and he mistakes Oliver for The Dodger as Oliver wasnt ready to run away. Mr Brownlow gets the police to chase after him and eventually the police catch him and take him to the magistrates, or the beaks as The Dodger refers to them. Then Fagin starts yelling at The Dodger saying, why didnt you look after him, why didnt you bring him back This shows that Fagin is very worried because Oliver could tell the police everything about Fagin and his associates so Fagin and Bill Sykes decide to send Nancy to the court hearing. In the hearing the magistrate is drinking behind his desk and doesnt care what anybody says which mirrors the surgeon and the drunk nurse at the begging of the novel. Eventually the shop owner from outside where the robbery took place comes in and says it wasnt Oliver but another boy all the charges are dropped. Mr Brownlow decides to adopt Oliver and all the parts of Olivers life are falling right into place. It then gets even better when Mr Brownlow comes across a necklace that he gave to his niece for her 18th birthday one that was taken off her by a drunk nurse at her death when she gave birth to young Oliver. Fagin is still not convinced that Oliver wont tell the police of his wearabouts so they decide to kidnapp Oliver, which completley rips his troubled life apart, just as it was beginning to come-together.  Unlike other characters throughout the book Nancy is not entirely good. She has battles between her inner conscience and her devotion to  Bill Sykes. Nancy cares for Oliver so overwhelmingly she tries to take Oliver back to Mr Brownlow and it results in her death. Eventually Bill Sykes is killed trying to escape after everybody comes to try to save Oliver.  This book changed peoples opinion towards the poor and the rich people loved reading it and couldnt wait for the next issue to come out every month.

PMU Salon Spa (Business Plan)

PMU Salon Spa (Business Plan) Executive Summary PMU Salon and Spa will be aimed at providing the female students within the university a wide range of salon and spa services. The firms’ spa will be devoted towards providing the customers with holistic services with regard to body work, massage, and energy work. These services will be offered in a relaxing setting. With regard to the salon, the firm will offer a wide range of treatments such as hair and nail treatments.Advertising We will write a custom essay sample on PMU Salon Spa (Business Plan) specifically for you for only $16.05 $11/page Learn More Its location within the university will provide convenience to the female students in an effort to improve their physical appearance and well being. The firm will offer a wide range of salon and spa products so as to satisfy the customers. This is inline with its customer focus strategy. In addition, the firm will ensure that it offers personalized services to the customers in ord er to ensure that the customers receive a unique customer experience. This arises from realization of the fact that attainment of customer satisfaction plays a vital role in enhancing repeat purchase behavior amongst the consumers. Additionally, the firm will create an atmosphere that is conducive for promoting unique customer experience. This will be achieved by inclining all its strategies towards the customer which means that the firm is customer oriented. To achieve its customer focus objective, the enterprise will effectively formulate its marketing strategies. One of the main marketing strategies that the firm will be concerned with is pricing. The pricing strategy will be formulated in such a way that it addresses the customers’ price sensitivity considering that most of them are students and they do not have a source of income. The firm will also maintain a fair and friendly environment. The firm will ensure that its employees are highly qualified so as to offer quali ty services. Company Description PMU Salon and Spa will operate as a private limited company within Prince Mohammed bin Fahad University. The Salon and Spa will be strategically located within the University’s sports center. In order to attract a large number of customers, the management team will ensure that it has qualified personnel. This will contribute towards provision of expert services. Considering that different individuals have different tastes and preferences, the firm will ensure that it offers diverse salon and spa services. All the firms operations will be customer centric which means that the firm will primarily focus at the customer. To achieve this, the entrepreneurs will conduct a comprehensive research in the University to determine the most preferred products and services. According to Green (2001, p.7), every firm should have a mission statement which illustrates its purpose of existence. The firm’s mission will be to offer services with the object ive of enhancing their customer’s physical beauty and mental relaxation. The firm will be committed at ensuring that its clientele is satisfied.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This is inline with the firm’s value proposition which will be guided by the need to offer unique relaxation and a sense of fulfillment. The resultant effect is that the firm will be able to motivate the customers to develop a sense of physical, mental and emotional balance. Some of the core aspects which will guide the firm include improving the customers’ beauty, appearance, health and well being. In order to establish a strong customer relationship, the firm will offer personalized services. This will play a vital role in creating a strong bond with the customers. It is the objective of the management team that effective provision of services will contribute towards t he firm attaining a substantial clientele base. Additionally, the salon and spa will be well designed so as to appeal to the customers. By the end of the first financial year, the firm intends to be established as a beauty and well being destination within the University. Industry analysis On a global scale, the salon and spa industries have witnessed a rampant growth over the past few decades. This arises from the large number of firms in the industry. The industry is composed of a wide range of enterprises ranging from small, medium to large enterprises. As a result, the global salon and spa industry is concentrated. The concentration in the industry has arisen from the high rate at which investors are venturing into the industry. For example, in the Middle East countries such as Saudi Arabia, the high rate of concentration arises from the fact that salons and spas are also being incorporated by firms in the hospitality industry such as hotels within their business structures. Des pite the high level of industry concentration, the industry is very lucrative. This is evidenced by the high rate at which the industry is growing. Salons and Spas in Saudi Arabia have become very innovative in their operation. Currently, the Saudi salon and spa industry is worth a number of billions of Riyals. This growth was experienced since the beginning of the millennium. The Saudi Arabian salon and spa industry is undergoing a double digit growth rate every year. The high growth rate is associated with the high rate of economic growth experienced in Saudi Arabia. Currently Saudi Arabia ranks as the largest economy within Middle East.Advertising We will write a custom essay sample on PMU Salon Spa (Business Plan) specifically for you for only $16.05 $11/page Learn More Despite the 2008-2009 economic crises, the industry’s performance was not adversely affected in most countries as indicated by the salon/spa performance index. The index has a st eady-state level of 100 points. If the performance index is above 100, it indicates that the industry is expanding. On the other hand, if the index is below 100, it is an indicator that the industry is contracting. In 2010, the industry witnessed a significant expansion as a result of increased in customer traffic. During the 4th quarter of 2010, the salon/spa performance index increased with a margin of 0.5% to reach its all time high of 103. Salon/spa owners expect that the industry will experience a significant growth in the future as a result of increment in retail sales (Professional Beauty Association, 2010, p.1). Market analysis Prior to venturing the market the entrepreneur has appreciated the importance of undertaking a market research in the success of the firm. The research will be focused at a number of market variables which include the consumer, market size, market trends and competition. The consumer market research will be aimed at understanding the consumers’ needs so as to determine the market potential. The firms core target customers are the individual consumers. Identifying the customers will make it possible for the firm to offer products and services which meet their requirements. The research will also enable the management team understand the consumers decision making process. As a result, it will be possible to formulate marketing strategies that influence their buying process. Findings of a market research conducted in Saudi Arabia revealed a change amongst Saudi Arabian consumer behavior with regard to beauty, personal health and wellness. Over the past years, Saudi Arabia’s culture has been very strict with regard to dress code especially amongst women. However, this is changing in the 21st century whereby individuals are increasingly developing a desire to look and feel being at their best despite the restrictions. A large number of consumers especially women are spending a significant amount of their money on improv ing their appearance. This has played a vital role in the transformation of the salon industry in Saudi Arabia. The industry is providing the ladies an opportunity to transform their appearance in a number of ways such as through modern styles and hair color. The desire to change appearance amongst women in Saudi Arabia is seasonal. Changing appearance is usually a mark of a life changing event for example when one is entering college.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In addition, the rate at which women are entering into the job market is relatively high. Young women are advancing their education to 2nd and 3rd level. Most of the salons and spas in Saudi Arabia especially those located in Riyadh and Jeddah are reporting that most of their clients are university students and graduates. The high rate at which young women are entering universities located in different provinces indicate that there is a high market potential. Additionally, women are also being employed which means that their disposable income will increase in the future. Another trend which is evident in the market arises from increased utilization of the internet. Most individuals especially college and university students are searching for information regarding beauty from the internet and other media. This has made them to be sophisticated with regard to beauty in their consumption patterns. They are increasingly demanding more salon and spa services other than the local fashions . This has significantly strengthened the markets for salon specialists such as that of hair stylists. This has been raised to a different level as a result of change in attitude towards beauty and health. A study by International Spa Association conducted in 2010 on the global salon and spa market revealed that spa and salon owners experienced a 46% increment in the volume of short term treatments. The most common form of short term treatment sought included manicure touchups. Currently, salons and spas are not a preserve of the super-rich. Even individuals with lower income have become conscious towards self-care. However, they are currently seeking less expensive services which fit their budgets. One of the sectors which have gained prominence over the past few years is the medical spa salons. These enterprises offer both spa and salon services. Baby boomers and the young women have increased their demand for these services. Product Design and Development In an effort to deliver unique customer experience, the firm will help the customers be relieved of their stress. The company shall stress on originality, quality and constancy of service. The firm will differentiate its products and services offering from those of its competitors located within the University by ensuring that it employs qualified personnel. Additionally, the firm will also train its employees on how to relate with its customers. The resultant effect is that the firm will be able to offer quality services. The salon and spa will be designed in such a way that it can accommodate 14 workers at full capacity. This will enhance the firm’s opportunity to serve its customers efficiently. The firm will diversify its product and services offering by integrating different spa and salon products which will be aimed at meeting the customers’ beauty and appearance needs. Marketing plan Marketing has undergone a significant transformation over the past decades. However, one of the most cr itical factors which firms should consider in their marketing practices is marketing value (D’Angelo, 2010, p.216). To be effective, firms should identify the consumers’ needs and wants. Upon identifying the customers’ needs, a comprehensive plan should be devised so as to determine the most effective ways of opportunities presented in the market. Market targeting As the entrepreneur, it will be ensured that the consumers’ needs and wants are satisfied. To achieve this, the firm will integrate the concept of market targeting. The firm’s core target market will include the female students aged between 19 to 26 years within Prince Mohammed bin Fahad University. The University has a substantial number of female students whose age range between 19 to 26 years. In addition, these students are more concerned with their beauty and physical appearance. Considering the fact that the university is composed of female students from different background, the fi rm will ensure that the needs of the specific customer category are met. Marketing mix In an effort to effectively penetrate the market, the firm will incorporate the concept of marketing mix. This will ensure effective formulation of marketing strategies to be used in the marketing plan. The four components of the marketing mix which include price, promotion, distribution and product will be taken into account. This arises from the fact that they affect the effectiveness with which a firm penetrates the market. Products To be successful a firm should offer products or services which effectively meet the prevailing market demand. In an effort to increase its customer base, the firm will offer a wide range of unique spa and salon services. This will be achieved by ensuring that the firm has all the necessary equipments for the operation of a spa and salon. This will increase the probability of a large number of customers being attracted to the firm. The equipments to be fitted includ e barber chairs, bowls, shampoo bowls, dryers, dryer chairs, hair processors, hair steamers, heat lamps, facial beds, facial bed machines, facial accessories, light therapy, waxing and paraffin, stone massage, manicure tables, mats, massage beds and tables, pedicure spas and tubs, salon irons, blow dryers, salon stools, shampoo chair, backwashes, spa/Vichy/hydrotherapy, styling hydraulics, styling stations and tanning booths. Some of the equipments range from basic managerial equipments like computers, office supplies, phones, cash registers, and appropriate furniture. The products which the firm will offer are listed in the table below. Swiss reflex massage A therapeutic massage performed on the feet Indian head massage -Working along certain points of the head to ensure that there is frees flow of prana (body’s energetic life force) Thailand massage A stretching and deep massage which does not require use of massage oil. It is performed while the client is on the flo or. Pedicure and manicure -Pedicure- Treating the toenails and the feet superficially using cosmetics treatment of the -Manicure- Cosmetic treatment of finger nails to improve their beauty. Hair treatment Oil hair mask -A form of treatment on hair using oil to correct any damages that have occurred as a result of other forms of treatment. Vitamins hair mask Treating the hair using a complex of vitamins such as vitamin A, E, B3,H, B8 so as to nourish the hair and protect the scalp skin. Herbs mask Treating the body using herbs which aid in body detoxification, tone the skin, remove muscle and joint pain Hair curling Creating curly hair styles Hair coloring -Changing the color of the hair depending on the customers’ preference. Nail sculpting Constructing a new nail over an already existing nail- for example if the nails are damaged. Waving Nail polishing Applying a nail varnish on fingernails and toe nails to protect them and to improve their appearance. Body waxing Removing the body hair from their roots Skin cleansing Removing backlog of body waste from the skin. Pricing strategy The entrepreneur appreciates the fact that determining the price of a product or service is a vital component that will ensure that its products and services are priced moderately in an effort to meet the needs of the consumers (Greene, 2011, p.45). The firm’s core target customers include the female students. Most of these students do not have a source of income. However, they depend on their guardians for their necessities. In order to be effective in its pricing strategy, the firm will utilize penetration pricing strategy. Baker (2011, p.66) defines penetration pricing strategy as a strategy which entails setting the price of the firm’s product and services at a low point compared to the competitors. To be effective in its pricing strategy, the firm will conduct a competitor market research to determine how other salons and spas lo cated around the university price their products and services. However, the pricing strategy will ensure take into account the cost of providing the products and services. In determining the price points, the firm will also incorporate the concept of psychological pricing strategy. This strategy entails setting the price at a point which influences the emotions of the customers. The table below illustrates the price of the products offered by the firm in Saudi Riyal. Product Price in Saudi Riyal (SAR) Swiss reflex massage 105 Indian head massage 105 Thailand massage 105 Pedicure manicure 25 25 Oil hair mask 55 Vitamins hair mask 55 Herbs mask 60 Hair curling 85 Hair coloring 150 Nail sculpting 75 Nail polishing 75 Body waxing 105 Skin cleansing 90 Promotion strategy Product and service awareness is the initial level which promotes a consumer to purchase a product. The firm will put effort to ensure effective creation of market awareness. A comprehens ive market communication program will be integrated. The program will entail both traditional and emerging market communication strategies. The traditional promotion mix which the firm will use includes public relations, advertising, personal advertising, and sales promotion. In launching the firm, the management team will organize a concert within the university. The concert will be aimed at creating awareness on the products and services offered within the spa and salon amongst the students. During the first day, the firm will also conduct sales promotion by offering some of its services such as manicure and pedicure free to individuals who will participate in the salon and spa opening event. In order to reach a large number of students within the university, various mediums will be used in the firm’s advertising campaign. These include print media such as magazines and posters. The firm will post adverts in the university’s newsletter. The posters will be elected at strategic positions within the university such as the universities pavements leading to the lecture . This will enable a large number of customers to access the information. The firm will also ensure that it has employees who have effective interaction and interpersonal skills in addition to their qualification. This will play a vital role in creating an effective customer relationship. The firm will also incorporate public relations campaigns. This will be achieved by sponsoring the university beauty contests. For example, the firm will offer the beauty pageants free services such as hair styling. This will play a vital role in strengthening its relationship with its customers. Considering the growth in technology, the firm will make use of emerging market communication technologies. One of the technologies which the firm will incorporate is the internet. To achieve this, the firm will develop a website through which it will post information regarding the products and services it offered at the salon and spa. Through the internet, the firm will be able to undertake direct advertising effectively considering the fact that university students visit the internet more often in their effort to search information. Web 2.0 will also be integrated to enhance sharing of information and to build and online community. Additionally, the firm will also enter into a contract with search engines such as MSN and Yahoo. The contract will ensure that information regarding its products and services is posted on the homepage. The firm will also incorporate emerging social communication networks such as Blogs, Wikis, Facebook, and You Tube. The social networking tools such as Wikis, Facebook and Blogs will give customers an opportunity to interact with the firm’s management team. In addition, consumers will be able to air their complaints and complement. The interaction will culminate into creation of a strong customer relationship. Place Place refers the ability of custo mers to access the product more easily. This is achieved through a number of ways such as opening outlets to distribute the product. In their distribution strategy, firms use different distribution strategies which include both direct and indirect methods. However, distribution of a service is different. This is due to the fact that it is difficult to separate the place from the service provider. With regard to salon/spa business, an entrepreneur should ensure that there is a high degree of convenience. To ensure that the salon is easily accessible, the salon will be located next to the University’s sports center. This will enable the customers to easily access the salon and spa. Decision to locate the salon and spa at this location was considered after consideration of the traffic around the area. Additionally, convenience will also be attained by ensuring that the salon/spa is customer oriented. One of the ways through which this will be ensured is by emphasizing on the con cept of affordability. Financial projections In its financial plan, it is the objective of the firm to initiate and maintain the various factors that lead to creation, increasing and stabilizing a firm’s cash flow. In developing the financial plan, it is assumed that the firm will access the required equity capital. Additionally, it is assumed that there will be no economic crash which has the effect of reducing the firm’s target market consumption patterns. A comprehensive research was conducted to determine how the salon will be started. A number of financial projections regarding the firm’s operations have been made. Upon its establishment, it is expected that the firm’s sales will be relatively low. However, the firm projects its sales to increase every month with a significant proportion for the first four months upon its establishment. After some time the sales will stabilize and then increase again. The chart below illustrates the firm’s sal es forecast for the first 12 months of its operation. Figure 1: Table showing the Elegant PMU Salon/Spa sales forecast Month 1 2 3 4 5 6 7 8 9 10 11 12 Sales in SAR (000) 600 680 780 780 780 770 770 770 770 800 850 900 Figure 2:  Firm’s pro forma income statement amount in SAR Year 1 Year 2 Year 3 Sales revenue 900,000 1, 800,000 2,200,000 Total cost of sale 500,000 1,000,000 1,200,000 Gross profit 360,000 700,000 800,000 Expenses Payroll 160,000 180,000 190,000 Sales and marketing expenses 40,000 45,000 50,000 Rent 120,000 120,000 120,000 Insurance 12,000 12,000 12,000 Utilities 9,000 9,000 9,000 Payroll taxes 23,000 24,000 24,000 Total operating expense 364,000 390,000 405,000 Profit before interest and tax 36,000 41,000 595,000 Tax incurred (3,000) 0 10,000 Net profit 39,000 41,000 585,000 Pro forma balance sheet The firm has a well formulated balance sheet which makes it possible to meet its debt obligation. Year 1 Amoun t in SAR Year 2 Amount in SAR Yea Amount in SAR r 3 Assets Current assets Cash Inventory Total current assets 85,000 55,000 140,000 400, 300 107,000 507,300 800,000 120,000 920,000 Total long term assets 0 0 0 Total assets 140,000 507,300 920,000 Liabilities and capital Accounts payable Current borrowing Subtotal current liabilities Total liabilities 62,000 0 0 62,000 106,450 0 0 106,450 115,800 0 0 115,800 Paid-in capital Retained earnings Earnings Total capital 160,000 (94,000) 9,800 75,800 160,000 (84,000) 325,000 401,000 160,000 240,000 415,000 815,000 Total capital and liabilities 137,800 507,450 930,800 Net worth 75,800 401,000 815,000 Firms projected cash flow analysis Considering the fact that the firm operates as a luxury business, the firm will required to have an initial amount of money to cover its operations. After its inception, it is expected that the firm will have a continual cash flow to meet its milestones. The firm has incorporated the concept of electronic commerce. As a result, it will be possible for consumers to pay using credit cards. Use of electronic commerce will enable the firm address diversity in consumers’ payment methods. The resultant effect is that the firm will be able to maximize on its profits. Item Year 1 Amount in SAR Year 2 Amount in SAR Year 3 Amount in SAR Cash received Cash from operation Cash sales 900,000 1,800,000 2,000,000 Total from cash operations 900,000 1,800,000 2,000,000 Other cash received Sales tax VAT received 0 0 0 Current borrowings 0 0 0 Other liabilities 0 0 0 New long-term liabilities 0 0 0 Sale of other current asset 0 0 0 Sales of long term assets 0 0 0 Investment received 0 0 0 Total cash received 900,000 1,800,000 2,000,000 Expenditures Operation expense Year 1 Year 2 Year 3 Cash spending 160,000 170,000 175,000 Payment on bill 630,500 1,200,000 1,400,000 Total on operation 790,000 1,370,000 1,575,000 Other c ash spending Sales tax VAT paid 0 0 0 Principal paid on current borrowing 0 0 0 Additional liabilities on principal payment 0 0 0 Principal payment –long term liabilities 0 0 0 Purchases on other current assets 0 0 0 Purchase of other long term assets 0 0 0 Dividends 0 0 0 Total on operation 790,000 1,370,000 1,575,000 Net cash flow 110,000 430,000 425,000 Problem solved by the firm’s products and services Findings of a research conducted revealed that female students are within Prince Mohammed bin Fahad University are increasingly being concerned with their beauty and wellbeing. In their quest to achieve this, they are increasing their consumption of salon and spa products. The salon and spa will ensure that the female students and their female relatives achieve their requirements by supplying them with different salon and spa products. According to Jordan, it has become a routine amongst female consumers to patronize spas and salons for prof essional treatments such as hair treatment, manicure, facials and pedicure (2008, p.354). To alleviate their aches and pain, female consumers are patronizing spas for various body treatments such as massage. PMU salon and spa will ensure that the female consumers within the university receive these products more effectively. Solution In order to ensure that the customers are satisfied, PMU salon and spa will be well equipped to with salon and spa facilities. Some of these facilities include steam baths, therapies such as crystal healing, and saunas. As a result, it will be possible for the firm to provide the customers with the required beauty and well being needs. In addition, the firm will also ensure that quality services are offered by hiring professionals with regard to beauty and wellbeing. Opportunity and Target market The salon and spa will target the female students aged between 19 to 26 years within the university. This arises from the fact that the demand for salon and sp a services amongst these customers is relatively high. As a result, there is a high probability of the salon succeeding in this market. By offering quality services to these customers, there is a high probability that they will refer their female relatives to this facility. This presents an opportunity for the salon and spa to increase its customer base. Therefore, setting up a salon and spa within Prince Mohammed bin Fahad University is very feasible since there is an opportunity for future growth. Competition Prior to entering the market, entrepreneurs are required to conduct a competitor analysis. According to Sandlin (2010, p.50), the analysis is aimed at determining the number of competitors operating in the target market. The firm’s management team will conduct a competitor analysis. The analysis will be aimed at determining the competitor’s strengths and weaknesses. This will enable the firm to relate to its weaknesses and strengths. The resultant effect is that the firm will identify gaps which it can capitalize on. The firm will face intense competition from other salons located around Prince Mohammed bin Fahad University. Findings of a market research conducted revealed that there are a number of salons and spas located within the university’s vicinity. These firms have been in the industry for a number of years. In addition, the salons and spas have diversified their product and services offering. For example, they offer salon and spa products females. This means that the salon and spa will be faced by direct competition. Considering that they have been in operation for a number of years, they have gained substantial recognition. Despite the intensity of competition, the firm intends to attain a high competitive edge by offering unique services. Coupled with its strategic location, there is a high probability of the firm attracting most of the female students from within the university who had been customers to these salons and spas. This arises from the fact that customers store loyalty is determined by its proximity to the customers’ place of residence, work or school. Through provision of a holistic and integrative salon and spa, the firm will enhance creation of a strong customer satisfaction and trust. Marketing and sales The firm will ensure that it is effectively positioned as the top spa-salon within the university. According to Porter, effective market positioning can contribute towards a firm improving its competitive edge. This is due to the fact that it’s positioning acts as a defense against its competitors. Prior to its establishment, the entrepreneur took into consideration a number of key success factors. The core factors considered include location, environment, reputation, and convenience. The firm is effectively located in an area with a substantial population of females. The firm will also provide an environment that is relaxing. A high degree of convenience will be ensure d through provision of a wide range of salon and spa products and services. In collaboration with the employees, the management team will ensure that the marketing activities are undertaken effectively by offering personalized services. Management team The firm will be effectively managed in an effort to enhance customer satisfaction. Effective organization will also be aimed at creating an environment conducive for working and employee development. This is inline with the firm’s management philosophy which entails respecting the employees and the customers. In its operation, the firm will have a management team composed of two key personnel’s who include the founder of the firm and the vice president. The founder of the firm will act as the Chief Executive Officer. He will be charged with the responsibility of overseeing the overall operations of the firm. This means that it is his responsibility to ensure that all activities are undertaken effectively and efficiently . On the other hand, the vice president will be charged with the responsibility of ensuring that all the administrative functions are smooth. For example, he will ensure that the employees are in good relation. Additionally, he will be charged with the responsibility of overseeing other activities such as marketing, and public relations. Initially, the firm will operate with a human resource base of 17 employees. The employees will be organized into two departments which include the salon and the spa. The spa will have a 1 nail specialist, 1 energy therapist and 3 massage therapists while the salon will have a total of 10 stylists and a receptionist. Each department will have its own receptionist. Current status Currently, the firm is in the process of formulating it operational strategies. The firm is also seeking for investors who can assist in lending financial capital to the firm. In addition, the firm has also posted an advert in the local dailies as the initial recruitment dri ve. Financial sought The entrepreneur has estimated the set up capital to be SAR 700,000. The firm’s core source of startup capital is from investors. The firm will seek financial capital from investors who intend to venture into the industry by lending their money to the entrepreneur. In return, the investors will receive a return on the amount advanced. The interest rate will be relatively higher than the rate offered by banks. In summary, it is expected that the firm’s plan will attract investors to invest in the business. This is due to the fact that there is a high probability of the business having high returns. Reference List Baker, R. (2011). Implementing value pricing: a radical business model for professional  firms. Hoboken, N.J: Wiley. D’Angelo, J. (2010).Spa business strategies: a plan for success. Clifton Park, N.Y: Milady Cengage Learning. Green, M. (2001). Salon management. London: Thompson Learning. Greene, C. (2011). Entrepreneurship. Mason, OH: Cengage Learning. Jordan, T. (2008). Vancouver: the complete residents’ guide. Dubai: Explorer Publishing. Professional Beauty Association. (2010). Salon/Spa performance index gained 0.5% in  the first quarter amid rising sales and and customer traffic level. PDF File. Web. Sandlin, E. (2010). Start your own hair salon and day spa: your step by step guide to  success. New York: Entrepreneur Press.

Difference Between Private and Independent Schools

Difference Between Private and Independent Schools When public school just isnt working to help a child succeed and meet his or her fullest potential, its not uncommon for  families to start to consider alternative options for elementary, middle or high school education. When this research begins, most likely private schools will start popping up as one of those options. Start doing more research, and youll likely encounter a variety of information that includes information and profiles on both private schools and independent schools, which might leave you scratching your head. Are they the same thing? Whats the difference? Lets explore.   Similarities Between Private and Independent Schools There is one big similarity between private and independent schools, and that is the fact  that they are non-public schools. In other words, they are schools which are funded by their own resources, and do not receive public funding from the state or federal government.   Differences Between Private and Independent Schools But it seems as though the terms private school and independent school are often used as though they mean the same thing. The truth is, they are both the same and different. Even more confused? Lets break it down. In general,  independent schools are actually considered private schools, but not all private schools are independent. So an independent school can call itself private or independent, but a private school cannot always refer to itself as independent. Why? Well, this subtle distinction between a private school and an independent school has to do with the legal structure of each, how they are governed, and how they are funded. An independent school has a truly independent board of trustees that oversees the schools operation, while a  private school can theoretically be part of another entity, such as a for profit corporation or a not for profit organization such as a church or synagogue. An independent board of trustees often meets several times a year to discuss the schools overall health, including finances, reputation, improvement, facilities, and other important aspects of the schools success. The administration at an independent school is responsible for carrying out a strategic plan that ensures the schools on-going success, and reports to the board regularly on progress and how they will address or are addressing any challenges the school may face.   External organizations, such as a religious group or other for-profit or not-for-profit organization,  that can provide financial assistance to a private school, not an independent school, will make the school less dependent on tuition and charitable donations for survival. However, these private schools may incur regulations and/or restrictions from the associated organization, such as mandated enrollment restrictions and curricular advancements. Independent schools, on the other hand, typically have a unique mission statement, and are financed by tuition payments and charitable donations. Often, independent school tuitions are more expensive than their private school counterparts, which is because most independent schools rely mostly on tuition to fund its daily operations.   Independent schools are accredited by the National Association of Independent Schools, or NAIS, and often have stricter rules for governance than some private schools. Through NAIS, individual states or regions have approved accrediting bodies that work to ensure all schools within their respective regions meet rigorous requirements in order to achieve accreditation status, a process that occurs every 5 years. Independent schools also typically have large endowments and large facilities, and include both boarding and day schools. Independent schools may have a religious affiliation, and may include religious studies as part of the schools philosophy, but they are governed by an independent board of trustees and not a larger religious organization. If an independent school wishes to change an aspect of its operations, such as eliminating religious studies, they only need the approval of their board of trustees and not a governing religious institution. The State of Utah Office of Education offers a typical definition of a private school:A school that is controlled by an individual or agency other than a governmental entity, which is usually supported primarily by other than public funds, and the operation of whose program rests with someone other than publicly elected or appointed officials. McGraw-Hills Higher Education site defines an independent school as nonpublic school unaffiliated with any church or other agency. Article edited by  Stacy Jagodowski

See word Assignment Example | Topics and Well Written Essays - 250 words - 1

See word - Assignment Example Florida Christian School is a well-structured Christian school created by Christian around Miami. The school is strategically located in Miami Dade County and easily accessible by the community around. It is located at  4200 SW 89th Ave. It provides Christian based academic skills and knowledge of Miami and other Christian communities across the country. The school formulates payment structure and competitive fees that best suits the community around Miami. The pricing strategy applied by the institution attracts many parents to offer their children into this institution. To enhance its competitive advantage in an academic institution, Florida offers a multiple child discount for additional siblings enrolled in the institution who live in the same household. In this perspective, a 10 percent discount is provided for each second child enrolled 20 percent reduction to the third child and 30 percent reduction of fee payment to the fourth child. On the other hand, the institution provides an annual plan that offers a 6 percent reduction of the annual fee if payment is made in full by June 1st. The institution is very innovative in establishing promotional activities that increase the institution’s brand name in the community and across the country. In this respect, the institution created a website link that is easily accessible to potential international students and parents. On the other hand, the institution produces periodic journals distributed to parents and other stakeholders. In an attempt to reach into more communities, the institution selected a unique color matching of its uniform with institution logo and other relevant information on it. Concisely, the institution is well positioned in the market to attract parents and to gain competitive advantage. Its main core competence in providing Christian based education and pocket friendly fee