Advantages and Disadvantages of Vertical and Horizontal Integration Essay

Advantages and Disadvantages of Vertical and Horizontal Integration - Essay Example One of the most important elements of businesses is survival. For a business to thrive through different timelines and periods, there is the need for businesses to find ways and means of remaining profitable (Kotler, 1994). This implies that businesses will need to modify their ways of production and find ways and means of keeping their customers satisfied. Aside customer satisfaction, businesses also need to stay ahead of other players in the industry by remaining competitive. Survival of a business is strongly linked with its ability to grow. There is a popular saying that one needs to evolve or become extinct. This implies that businesses need to find ways and means of growing and expanding to meet these evolutional needs. Due to the complex nature of businesses and the complications that can come up when a business is expanding, there are numerous approaches through which a business can expand by way of acquiring other businesses. The use of acquisition and mergers comes with so many business and managerial requirements that must be examined closely at each and every point to ensure that optimum results are attained. The paper attempts an in-depth application of the concept of mergers and acquisitions to businesses in the technological sector. It examines the advantages and disadvantages of vertical integration and horizontal integration in the technological sector.... Hill & Jones (2010) identify that there are four main reasons why a business might choose to ‘reposition’ itself. In other words, a business might want to change its structures and systems through various means of acquisitions or control of other ventures that are closely related to it. According to Hill & Jones (2010), the first reason why a business might want to reposition itself is for the purposes of improving the company’s competitive position. In other words, the business might want to become much more formidable in maintaining its share in the control of valuable resources like the markets and/or the inputs that are used for production in the industry. Secondly, a business might want to improve its profitability situation. In other words, businesses might want to increase their earning powers and control more income or revenue streams through some expansion or re-positioning exercise. Thirdly, a business might want to enhance production. In other words, a business might want to find efficient and effective ways of producing the same thing. In this wise, they might seek to produce more from a given volume of inputs or increase the volume of production they undertake. Finally, a business might want to diversify so that they reduce risks and enhance returns. This might be done through the controlling of different income generation sources rather than a single or fewer income generation streams. This is done through various techniques like the creation of new business units or new products which can provide value to consumers and in effect provide some more revenue for the company. In this wise, the business will not have to rely excessively on a single income generation unit which

Personal Development Essay Example for Free

Personal Development Essay I have been employed as care worker with my Company, for the last 4 years. Upon joining the Company, I received an induction, which covered guidance and training, in areas applicable for my role. I also received a job description, which informed me of what I was expected to do within my role. When I first started working here, I had no previous experience as a carer, so I found the induction very informative, to support my role, and responsibilities. It informed me of the organisational policies and procedures, which I had to sign, to say I had read and understood their contents. My induction training also made me aware of the legislation that relates to my role, and the GSCC code of practice, that all social care workers must work to. The General Social Care Council,(GSCC) is the social care workforce regulator in England and their job is to regulate the conduct and training of the care workforce. As a care employee, I am required to abide by the code of practice as defined by the GSCC. see more:explain what reflective practice is This code states that I should: * Protect the rights and promote the interests of service users and carers * Strive to establish and maintain the trust and confidence of service users and carers * Promote the independence of service users while protecting them as far as possible form danger and harm * Respect the rights of service users while seeking to ensure that their behaviour does not harm themselves or other people * Uphold public trust and confidence in social care services * Be accountable for their practice and take responsibility for maintaining and improving their knowledge and skills. During my induction period with the company, I received regular supervision with my line- manager, who assessed my progress, and competence to perform my role. When my induction period ended, my supervision then took/takes place every 3 months. My supervision covers:- * All aspects of my practice * My career development needs * My reflections on training I have attended recently, progress with my NVQ or other qualifications * Information about the policy and procedures in my organisation. * Constructive feedback on my service delivery. My supervision is always held in a confidential setting, between myself and my Manager. My Manager records details of what has been discussed, targets identified, and achievement target dates to be met by me and my Manager. This is my personal development plan, and helps me to record training received, training identified, and knowledge gained. My supervision is my opportunity to discuss issues I am concerned about. Sometimes prior to my supervision, I write down notes on issues I want to raise, so that I do not forget whilst in my supervision. I also receive appraisal (performance review), meetings with my manager, these are usually once a year. This is a review of my performance, summarising what I think I have achieved, and what my manager thinks I have achieved over the last 12 months. I discuss my training record and identify what my Personal Development Plan will be for the next 12 months. I also agree some personal objectives or targets for me to achieve before my next appraisal. Other colleagues I work with may have been asked for their opinions on my work as well. As a care worker I must be accountable for the quality of my work and take responsibility for maintaining and improving my knowledge and skills. This means I identify mandatory training I may need, and refresher courses, to keep my knowledge up to date, and so meet the current care standards. I also receive training from observing more experienced colleagues, who can teach me ‘on the job’ techniques. This is ‘informal’ training, but is most beneficial, along with ‘formal’ training courses I attend. All training helps to improve my service delivery, and enables me to use recommended safe practice in my working role. I can develop my knowledge, skills, and understanding by: * Identifying the knowledge, skills and standards required for my job role. * Reflecting on my practice, and making improvements on previous practice. * Receiving constructive feedback from my manager, and colleagues. * Undertake learning activities that inform my working practice. * Put new skills that I have learned into practice. I attend regular staff meetings, where staff members can discuss service users in a confidential setting. This is good practice as it provides a platform for staff to share their experiences, and gain moral support and advice from colleagues. My employer also provides a counselling service for staff members, due to the ‘pressures’, of the role. I can ask my Manager for this service if I feel work pressures are too much, and my Manager and organisation will support me. If I have a work related problem, I can approach my supervisor, and line manager for support. I feel comfortable in doing this, as I am confident that they will address my issues, and help me to resolve them. I have the opportunity to develop in my role, as my employer arranges regular ‘in-house’, training opportunities. My employer has also encouraged me to undertake my NVQ qualification, and has allowed me ‘paid’ time for study. My employer advertises job vacancies internally, and I have been encouraged to apply for more ‘senior’ positions, for my career progression.

Racial Propaganda In The Third :: essays research papers fc

Racial Propaganda during the Third Reich   Ã‚  Ã‚  Ã‚  Ã‚  One of the most central ideals in Nazi ideology was that of a continual attack against other races deemed inferior by Adolf, more specifically Jews. Racial minorities were used as scapegoats with which the Nazis blamed for what was wrong with the country on. In the speeches to the masses at Nazi rallies, they would start off by bringing up all the problems that they have been having, the depression, the Versailles Treaty, and any other hardship that they had experienced, and make the Jews the architect behind their ruin. The speakers would focus all their anger on the Jewish people and other minorities. Hate and anger seem to be key points in Nazi ideology. To sustain the kind of anger the Nazis needed to sway the masses over to their side, they needed a common enemy, somebody or something that could be seen everyday. Jews were portrayed as extremists and revolutionaries. They were supposedly different from the average moderate Germans, and even more different than the Nazis. People like Hitler, Goebbels, and Julius Streicher played on this ignorance of other people to instill fear and loathing of the Jews. In general, people don’t like what they don’t understand. The Nazis exploited this truism by warping, retarding, and creating supposed grievances that the Jews were responsible. During the rallies, the speakers would rant and rave about how they would exact â€Å"vengeance against their eternal enemy, the Jew† (1), and how that â€Å"Europe will have defeated this threat only when the last Jew has left our part of the planet† (1). Hitler himself at the outbreak of â€Å"The German people will not be destroyed in this war, rather the Jew† (1). The Nazi leaders would spout out so-called scientific evidence that the only way to ensure the survival of the Aryan race is that of racial purity. Over and over through their speeches and pamphlets, they emphasized that: â€Å"The decline of a people’s culture is always the result of race mixing and a decline in racial quality. Any change in the racial makeup of a people leads to a change in its nature and its culture. If the race that gave a people its nature is debased by mixing with foreign and inferior races, the people’s culture will perish and can never again be restored to full life.† (1)   Ã‚  Ã‚  Ã‚  Ã‚  The Nazis advocated a homogenous society where only the Aryan and Nordic races would exist, while driving out all the other â€Å"inferior† races to protect the purity of the races, even at the cost of genocide towards the Jews.

1950’s Trade Policies of Pakistan

Period II:  The Golden Sixties, 1958 to 19695 Ayub Khan, the first military dictator of Pakistan, assumed complete control of the state in October 1958 and reigned over the golden period of Pakistan’s economic history. With the help of Harvard advisors, Khan vigorously implemented the Planning Commission on Economic Management and Reforms with impressive results. 6 GDP growth in this decade jumped to an average annual rate of 6 percent from 3 percent in the 1950s. The manufacturing sector expanded by 9 percent annually and various new industries were set up. Agriculture grew at a respectable rate of 4 percent with the introduction of Green Revolution technology. Governance improved with a major expansion in the government’s capacity for policy analysis, design and implementation, as well as the far-reaching process of institution building. 7 The Pakistani polity evolved from what political scientists called a â€Å"soft state† to a â€Å"developmental† one that had acquired the semblance of political legitimacy The Flat Fifties, 1947 to 1958 The main features of the 1950s was the establishment and expansion of thelarge scale manufacturing sector, which ranged from a high annual growthrate of 28. 7% in 1953/4 to a low 4. 9% in 1957/8. With industry growing athigh rates, there was reverse picture in the agriculture sector, which onlyonce in this period achieved double digit growth rates. Agriculture stagnated to the extent that its growth was not even enough to cope with the growth inpopulation, resulting in a fall in per capita consumption of food grain and theneed to import food as well. A stagnant agriculture in a predominantlyagricultural economy meant a slowly growing economy. The major impact of  economic policy in the 1950s was to transfer income away from agricultureand from urban consumers and to the new and rapidly growingmanufacturing sector 7. 2. 1 The Trade Regime: 1950-60 The major instrument of protection to import-substituting industries during the 1950-60 period was the system of import licensing. The value of import licenses issued and the distribution of these licenses across import categories were determined by the chief comptroller of imports and exports. Both the level and the product composition of import licenses changed from year to year, but in all years demand for imports exceeded the controlled supply, creating a gap between importers’ costs (c. i. f. prices plus duties and sales taxes) and market prices. The margin above importers’ costs represented a windfall profit for those fortunate enough to have the import licenses. Also, domestic manufacturing firms were able to sell their products at prices well above importers’ costs because of the scarcity markups created by restrictive licensing. Tariff protection was, in most product lines, a far less significant factor in overall protection than the licensing of imports. The structure of nominal and effective tariff protection, therefore, provides little indication of the production incentives created by the trade-control system during this period. A study by Lewis (1970, p. 69) suggests that the scarcity markup-the percentage increase of the wholesale price above the importer’s cost-was 67 percent. Lewis also found that, for his sample, nominal rates of protection across the three major subcategories of manufacturing- consumer, The Export Bonus Voucher Scheme During the 1950s it became clear that exporters were caught in a continually worsening cost-price squeeze. The maintenance of an overvalued exchange rate through restrictive import controls implied (1 ) a constant rupee return per dollar of goods exported; but (2) production costs that had a tendency to escalate when foreign exchange became scarce and the scarcity premium on imported raw materials rose. To offset this disadvantage, the export bonus voucher scheme was introduced in 1959. For every Rs 100 of foreign exchange earned, the exporter received a voucher for either Rs 20 or Rs 40, depending on the type of product, that effectively became a license to import goods up to the face value of the voucher. The bonus vouchers were licenses to import only goods from a list of importable items, but the list was quite broad and encompassed consumer, intermediate, and investment goods. Exporters had considerable freedom in deploying their vouchers. They could be used to import raw materials for processing into export or import-competing goods. They could be used for personal imports of luxury items, such as automobiles. Or they could be sold on the open market, commanding a price well in excess of their face value. This latter alternative was extremely popular, and bonus vouchers were traded on the Karachi stock exchange with the premium-that is, the price expressed as a percentage of its face value-quoted daily. Importers purchasing the vouchers could then import any item on the bonus list. If the premium was 150 percent and the c. i. f. value of the imported item was $1, or Rs 4. 6 at the official rate of exchange, and the duty 50 percent, the total cost to the importer was: Rs 4. 76 + 1. 5 (Rs 4. 76) + 0. 5 (Rs. 4. 76) = Rs 14. 28. Since many items were purchased with bonus voucher premiums and customs duties of these same levels, it is clear that the marginal EER for exports exceeded the official exchange rate by a substantial amount. For the exporter, the bonus voucher scheme offered a differentiated and variable EER. Agricultural goods carried a bonus rate-the share of foreign exchange earned returned in the form of vouchers-of zero while manufactured goods carried rates . f 20 or 40 percent initially. The bonus rate structure, the number of rate categories, and the commodities assigned to the various categories were changed from time to time. Also, the premium fluctuated between 100 and 200 percent, though an attempt was made to stabilize the bonus premium at about 150 per cent. The EER for exports ranged, therefore, from Rs 4. 76 to Rs 7. 61 (Rs 4. 76 + 1. 5 x 0. 4 x Rs 4. 76). INDUSTRIALIZATION: Ayub Khan's era is known for the industrialization in the country. The new regime of Ayub Khandisbanded many of the controls that had been imposed following the post-korean war recessionin 1952. He created an environment where the private sector was encouraged to establishmedium and small-scale industries in Pakistan. This opened up avenues for new jobopportunities and thus the economic graph of the country started rising. In 1959 there was afundamental reordering and change in the method of directing industrialization through trade  policy and a series of liberal policies were introduced which remained in effect till 1965. Themain emphasis of the new rade policy in 1959 shifted away from direst controls and towardsindirest controls on imports, and on domestic prices of other goods. It was the export bonus scheme launched in 1959 that was considered to be the key to the importliberalization process in Pakistan. The scheme allowed a free market in the bonus vouchers for  certain commodities. The Export Bonus Vouchers Scheme (1959) and tax incenti ves stimulatednew industrial entrepreneurs and exporters. Bonus vouchers facilitated access to foreignexchange for imports of industrial machinery and raw materials. Tax concessions were offeredfor investment in less-developed areas. These measures had important consequences in bringingindustry to Punjab and gave rise to a new class of small industrialists. In addition the earlier closed and selective import licensing scheme of the 1950s, which was  based on the importers ability to importduring the Korean boom of 1950-2, was replaced in 1961 HISTORICAL DEVELOPMENT PAKISTANECONOMICPOLICY by the open General license(OGL), which allowed newcomers to enter the trading sector. Thenew traders made substantial profits and gains from processing import licenses. The most marketfriendly change was the introduction of the Free List†, which permitted the import of certaingoods without any license. The free List was extended over time from 4 items to 50 in 1964. Thetariff structure continued to be used as a signaling device, as it had been in the 1950s. the biasagainst producing machinery and equipment locally continued, as the import duty on these itemswas still the lowest, thus making it easier to import these goods rather than produce them athome. The main reason why the government could be so generous in its import policy in the firsthalf of 1960s was critically linked to the availability of foreign aid, which increased from 2. 5  percent of GNP in mid 1950s to 7 percent of GNP in mid 1960s. In 1965 the Free List suffered serious setbacks as foreign aid was curtailed, and due to theresulting foreign exchange squeeze, the import liberalization policies were abandoned and manynew import controls were introduced. The governments import licensing scheme was to suppose to encourage the private sector toinvest, just as the EBS was a means for exporters to acquire additional foreign exchange byexporting more. The exchange rate had been over valued in the 1950s, but the EBS compensatedfor that and boosted exports, especially of manufactured goods. The scheme transferred asubsidy to exports, and the export of raw jute fell from 60 percent of total exports in 1958 to 20%in 1968, while exports of cotton and jute textiles increased from 8. 3% to 35% in this period, andexports of other manufacturers increased tenfold from 2 to 20 %. The EBS also had a positiveimpact on imports making raw materials and machinery easier and cheaper. This resulted in low  prices for agricultural inputs, while EBS transferred subsidies to manufactured exports. Due toEBS and import licensing and liberalization strategy large-scale manufacturing increased from8% per annum between 1955 and 1960 to 17% between 1960 an 1965 in the second five year  Ã‚  plan the controls reimposed following the foreign exchange and aid curtailment caused thisgrowth to fall to about 10% in the second half of the 1960s. None of the growth in industry during the period of second five year plan was due to the importsubstitution, instead domestic demand and absorption rate were the dominant factors. As foreignaid had increased so had imports and even though manufacturing output grew to impressive ratesdue to the import policies and foreign resources, imports increased at a faster pace. Growth ininvestment goods was by far the fastest of all sectors during the early 1960s.. he reasonaccording to Asian bank was that since this sector was most dependent on imported rawmaterials, it benefitted most from import liberalization. Another reason why import substitutionslowed down was the EBS, which encouraged the export of manufactured goods. Pakistan’s growth rate of 5. 065 was far higher than many comparable countries, indicating bothtechnological dynamism and dynamic allocative efficiency in a comparative perspective

Provisions, Contingent Liabilities and Contingent Assets Essay

The Standard This standard distinguishes between provisions and contingent liabilities. A provision is included in the statement of financial position at the best estimate of the expenditure required to settle the obligation at the end of the reporting period. A contingent liability is not recognised in the statement of financial position. However, unless the possibility of an outflow of economic resources is remote, a contingent liability is disclosed in the notes. Provisions A provision is a liability of uncertain timing or amount. A liability may be a legal obligation or a constructive obligation. A constructive obligation arises from the entity’s actions, through which it has indicated to others that it will accept certain responsibilities, and as a result has created an expectation that it will discharge those responsibilities. Examples of provisions may include warranty obligations; legal or constructive obligations to clean up contaminated land or restore facilities; and a retailer’s policy to refund customers. A provision is measured at the amount that the entity would rationally pay to settle the obligation at the end of the reporting period or to transfer it to a third party at that time. Risks and uncertainties are taken into account in the measurement of a provision. A provision is discounted to its present value. FRS 37 elaborates on the application of the recognition and measurement requirements for three specific cases: †¢ Future operating losses – A provision cannot be recognised because there is no obligation at the end of the reporting period. †¢ An onerous contract gives rise to a provision. †¢ A provision for restructuring costs is recognised only when the entity has a constructive obligation – the main features of the detailed restructuring plan have been announced to those affected by it. Contingent Liabilities Contingent liabilities are possible obligations whose existence will be confirmed by uncertain future events that are not wholly within the control of the entity. Contingent liabilities also include obligations that are not recognised because their amount cannot be measured reliably or settlement is not probable. An example of a contingent liability is litigation against the entity when the occurrence of any wrongdoing by the entity is uncertain. Contingent Assets Contingent assets are possible assets the existence of which will be confirmed by the occurrence or non-occurrence of uncertain future events that are not wholly within control of the entity. Contingent assets are not recognised in the statement of financial position. Contingent assets are disclosed when it is more likely than not that an inflow of benefits will occur. However, when the inflow of benefits is virtually certain an asset is recognised in the statement of financial position, because that asset is no longer considered to be contingent. Business Implications FRS 37 restricts the circumstances in which a provision can be recognised. It does not allow a provision to be created for the possibility of something occurring in future. There must be a present obligation (a liability) at the end of the reporting period. Although provisions are not recognised for future operating losses, the expectation of future operating losses triggers an impairment test of the operation’s asset. The impairment test may result in the recognition of an impairment loss. Furthermore, the present obligation under an onerous contract is recognised and measured as a provision. The measurement of a provision requires judgment about the amount, timing and risks of the cash flows required to settle the obligation. Caution is needed in making judgment under conditions of uncertainty. However, uncertainty does not justify the creation of excessive provisions.

The Freelance Writing Course Is Live †Enroll Today!

The Freelance Writing Course Is Live – Enroll Today! The Freelance Writing Course Is Live Enroll Today! The Freelance Writing Course Is Live Enroll Today! By Daniel Scocco The day has finally come. Our Freelance Writing Course is live, and you can enroll today. It runs for six weeks (this being the first one), covering a wide range of topics related to freelance writing on the Internet. If you like to write and want to explore the  possibility  of making money by doing it online, we recommend that you check the course out. Go to the official page, where you can get all the details and enroll. Over 700 students took the course in previous editions, and the feedback we got was terrific. Below, youll find what some of those students had to say about the course: I just wanted to let you know how much I enjoyed the online course. I have been researching content on how to establish a freelance writing career since earlier this year and your course provided information that I just havent been able to find anywhere else. Thanks for taking the time to develop this in a straightforward and manageable fashion. (Yvonne Smith, United States) What you supplied has far exceeded my expectations, both in content and value for money. I congratulate you on a job well done. (Margaret Huggins, Australia) I really enjoyed the course. The lessons were well structured and had realistic yet challenging objectives to meet, and this helped me absorb the content of the lessons. There is a lot to pack into six weeks, but I view the course as a much longer-term investment in helping me establish a writing career and brand to help with my overall success. (Ian Greaves, United States) Your course is amazing. What I have learned so far has been very helpful, and I have looked ahead at what is still there, and I am amazed at the depth of knowledge you have given me. The downloadable books are a big bonus. I know this course will be the best help I could ever find to becoming a freelance writer. (Janie Fletcher, United States) Enrollment will close this Friday, June 8, so you have only 72 hours to join. (The small registration window is to make sure students will follow the course at the same pace, since we have a private forum where they can ask questions and interact with other members.) Visit the official page, where youll find all the details (e.g., course structure, price, bonuses). Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Freelance Writing category, check our popular posts, or choose a related post below:Direct and Indirect ObjectsDifference between "Pressing" and "Ironing"40 Words Beginning with "Para-"

Free Essays on Sport Business

Without a doubt, consumer privacy is the No. 1 issue facing email marketers today. Given all that is written and discussed about privacy, it can be difficult to establish what the law dictates versus what is considered best practice. We are not lawyers, and you should not take this article as legal advice, but we are here reviewing some relevant laws and best practices related to email marketing. First, it is important to understand what the letter of the law mandates. As of early 2000, 14 states within the U.S. had enacted unsolicited commercial email (UCE) or "antispam" laws, but any federal-level laws directly addressing email marketing have yet to be enacted. The various state laws describe each state's requirements for commercial email messages that are delivered to individuals within that state. Violations may result in financial losses for the marketer because individual consumers or the state may sue the marketer for damages. (Click here for a table that outlines the basic details of the UCE statutes for 14 states.) As intelligent marketers know, sending unsolicited email to a group of individuals can have ramifications even worse than a lawsuit including damage to brand credibility, loss of trust, poor response rates, and waves of unsubscribe requests. In addition to UCE laws, you should familiarize yourself with each state's consumer protection laws. To minimize legal risk and avoid damaging customer relationships, every email marketer should, at the very least, follow the minimal requirements of all 50 states. Many marketers have translated the laws into practice and assert that it is acceptable, but not recommended, to send email to an individual with whom they have an existing business relationship. However, the preferred approach from legal and consumer standpoints is to deliver email messages only to those individuals who have explicitly consented to receive the email. Gathering an opt-in from consumers is ... Free Essays on Sport Business Free Essays on Sport Business Without a doubt, consumer privacy is the No. 1 issue facing email marketers today. Given all that is written and discussed about privacy, it can be difficult to establish what the law dictates versus what is considered best practice. We are not lawyers, and you should not take this article as legal advice, but we are here reviewing some relevant laws and best practices related to email marketing. First, it is important to understand what the letter of the law mandates. As of early 2000, 14 states within the U.S. had enacted unsolicited commercial email (UCE) or "antispam" laws, but any federal-level laws directly addressing email marketing have yet to be enacted. The various state laws describe each state's requirements for commercial email messages that are delivered to individuals within that state. Violations may result in financial losses for the marketer because individual consumers or the state may sue the marketer for damages. (Click here for a table that outlines the basic details of the UCE statutes for 14 states.) As intelligent marketers know, sending unsolicited email to a group of individuals can have ramifications even worse than a lawsuit including damage to brand credibility, loss of trust, poor response rates, and waves of unsubscribe requests. In addition to UCE laws, you should familiarize yourself with each state's consumer protection laws. To minimize legal risk and avoid damaging customer relationships, every email marketer should, at the very least, follow the minimal requirements of all 50 states. Many marketers have translated the laws into practice and assert that it is acceptable, but not recommended, to send email to an individual with whom they have an existing business relationship. However, the preferred approach from legal and consumer standpoints is to deliver email messages only to those individuals who have explicitly consented to receive the email. Gathering an opt-in from consumers is ...