Thursday, February 6, 2020
Small Business Enterprise - Case Study Example Good reputation and experience in the industry. Dues to already established positive reputation, further expansion of business involves less risks. Moreover, the managers have experience in the industry, while lack of experience is one of the top reasons of small business failure (Holmes, S. Haswell, S. 1989). High quality of products served. The major reason of coffee shop success is the high quality of food served that results in positive reputation and word of mouth spread of information about services and products offered. While, undoubtedly, there is a vast number of factors that have a positive influence on business functioning, the coffee shop has significant drawbacks that should be particularly considered when planning expansion. Poor marketing campaign. The business has to concentrate on development of the marketing mix alongside with research of the target audience needs. The issue is particularly relevant due to the fact that the target audience of the gift shop is mainly tourists; consequently, word of mouth recommendations are not sufficient enough. The variety of products offered at the gift shop should also be considered in relation to the target audience needs, perhaps, the products list offered should be expanded. Poor labor specialization. Bob and Jane are the only two employees of the business. While their day to day duties involve simple serving work, obviously, the personnel are too qualified for this type of work. By hiring helpers that would serve at the coffee and gift shop, the managers could devote more time to marketing and planning of their business, thus, the efficiency of the business would grow. This issue is particularly relevant when considering business expansion. In order to neutralize the negative effects of business weaknesses, the identified strengths should be matched against weaknesses and on the base of the received outcome further planning should be implemented (Bannock, G. 2005). The effect of poor marketing campaign can be neutralized by further development of positive reputation of the business in the industry alongside with conducting marketing research in access of funds available in terms of the geographic location of the business. Poor labor specialization can be matched against high quality of products served alongside with positive reputation of the business in the industry, since expansion of the business will most likely result in diminished contacts with clients (Bitner, L. Powell, J. 1987). Part II: Existing Business Improvement and Expansion Consequently, the business should concentrate on development of the marketing mix applicable in the present situation alongside with marketing planning and labor specialization that should be considered in terms of business expansion. While development of the marketing mix and marketing campaign as well as research of the present market should be outsourced to the third party, e. g. marketing agency, such issues as financial planning and staffing should be directly solved by the management. Marketing and promotion is crucial to any business. Development of
Tuesday, January 28, 2020
Makes analysis Essay An interview can be defined as a purposeful discussion between two or more people (Kahn and Cannell, 1957, cited in Saunders et al, 2003). There are several types of interviews, including structured, semi-structured and unstructured. Structured interviews have the advantage of all respondents being asked the same set of questions, which makes analysis of the results easier in terms of comparison and spotting trends. Semi-structured interviews are non-standardised, which indicates that the researcher may simply be using a list of themes and questions that need to be covered, but each interview is different, and will cover different topics, dependant on the variation in respondents. Unstructured interviews are informal and give the interviewer the freedom to discuss any topic, while keeping the research objective the main focus. The interviewee has the freedom to discuss their experiences without being restrained by pre-set questions. The author believes that the most effective interview technique for this type of research is to use structured interviews, with respondents that can be recruited to fit a set quota, which stipulates the age, sex and socio-economic group of each. An interviewer-administered questionnaire is thought to be preferable to a self-administered questionnaire, because of the nature of the questions, which will require the interviewer to record verbatim. A fixed quota requires the interviewer to recruit a preset group of people, and other quota requirements can be set to ensure that the interviewees are in a position to discuss the main topic (i. e. a condition of fulfilling the quota would be having purchased a house within a set time frame). The topics to cover during the interviews could include the interviewees experiences with their mortgage provider and estate agent during the process of buying their house; how they think the process could be improved, and a list of suggestions on how to improve the system, for respondents to select for themselves. By using a combination of open and closed questions, it allows personal opinions to be recorded, and specific attributes to be measured (e. g. the level of satisfaction of service that the mortgage provider offered, using the likert scale). Additional services to be offered would be identified using the research as outlined in section 4. 0. The element of aftercare needs to be considered, as any action recommended by the seller should be undertaken by the buyer, after the sale has completed, e. g. if plumbing is not up to standard, and the buyer has been informed of this, it is their responsibility to fix the problem when the property transfers hands. The proposed service is supposed to make life easier on its customers, by doing all the hard work for them. This may be an easier task once government legislation has passed stipulating the necessity for information to be provided by both parties before offers are made on the property. Changes in the overall process will eventually change the outcome and impact on consumers, but until then, consumers will simply have to cope.
Monday, January 20, 2020
Robert Pirsig's Zen and the Art of Motorcycle Maintenance: An Inquiry into Values Confronting crises of technological annihilation and personal madness, Robert Pirsig finds each to be a manifestation of a deeper crisis of Reason. In response) he suggests an alternative to our current paradigm of rationality, the "art of motorcycle maintenance." By showing that our understanding and performance derive from our emotional and evaluative commitments, he challenges the cultural commonplace which construes "subjective" states as distortions of "objective" reality. In so doing, he asserts that "wholeness" or sanity may be achieved only through "passionate caring," and an awareness and acceptance of how our emotions and values shape our experiences. Further, he shows that technology, a manifestation of our values, may be controlled only through emotional and moral commitment. A restorative rhetoric, on Pirsig's analysis is, then, one in which the passions and values are recognized as the very ground of being in and interpreting the world. The crisis of reason As he begins his "Chautauqua," Robert Pirsig finds himself in a twofold crisis. He characterizes the public dimension of the crisis as arising in large part from the technological fragmentation of nature and man. Having transformed nature from a field of daffodils into a field for its own potential appropriation, technology, as Marshall McLuhan has noted, now also "shapes and controls the scale of human association and action" (McLuhan 8). Seemingly indifferent to human values and developing under its own logic, technology increasingly isolates us from our natural environment, from one another, and even from ourselves. For though we may be in touch with Belgrade or Toky... ...ight give, the Sophist being "a hunter of young men of rank and distinction who works not by violence, but by persuasion." ("The Middle Speech of Plato's Phaedrus," Journal of the History of Philosophy, 9 , 421). Pirsig admits that his defense of the Sophists against Plato is not original; indeed such a defense dates to the nineteenth century. Everett Lee Hunt elaborates this point in his "On the Sophists," in The Province of Rhetoric, ed. Joseph Schwartz and John A. Rycenga (New York: Ronald Press, 1965); and in "Plato and Aristotle on Rhetoric and Rhetoricians" (Historical Studies of Rhetoric and Rhetoricians, ed., Raymond F. Nowes [Ithaca, N.Y., Cornell Univ. Press, 1961], p. 20), he writes: "It is to Hegel that the Sophists owe their rehabilitation in modern times." Hunt also shows that Lewes, Grote, Sidgwick and John Stuart Mill all joined in the defense.
Sunday, January 12, 2020
The UK enjoys a wealth of indigenous energy resources and has the technical expertise and experience to exploit them. Much of this expertise is being utilized in gainful commercial ventures overseas. In its position as one of the most energy-rich countries in Europe, the UK is uniquely placed to profit from a strong energy market. Expenditure on energy amounted to Ã £99.87bn in 2008. UK householders spent Ã £40.67bn on energy products, representing 5.2% of total consumer expenditure. Privatization has provided the impetus for competition, resulting in a major restructuring of the energy industries and the companies involved. Restructuring commenced in the late 1980s with the privatization of the gas sector, closely followed by similar moves in the electricity, coal and nuclear sectors. Oil resources had always been in private hands. Full liberalization was achieved in May 1999, with the completion of the opening up of the electricity market. All consumers, both domestic and business, are now free to choose their supplier of gas or electricity. A succession of bids, notably in the electricity sector where many of the regional electricity companies (RECs) are under new ownership, has changed the nature and structure of the energy industry. Thus, public electricity suppliers have evolved since privatization into complex structures embracing diverse businesses. Most have extended their interests into generation or are part of wider groups with major interests in generation. . Acquisitions by foreign concerns, notably from the US and from Europe, have created a much more international industry. The Ã £10bn take-over of Powered PLC by E.ON of Germany remains on track for completion in 2002. However, theÃ cost of acquiring energy customers has become too high for some US energy groups. The collapse of Enron Corp., the energy trading group, in November 2001, was threatening to destabilize energy markets in the US and Europe. 1.1 BRITISH GAS British Gas is BritainÃ¢â¬â¢s favorite domestic energy supplier. As well as providing gas and electricity, they also install and maintain central heating and gas appliances in millions of homes throughout the country. Part of the energy group Centrica, British Gas provides gas, electricity and home repair services to eight million home and business customers in England, Scotland and Wales. It is the UKÃ¢â¬â¢s largest operator in the installation and maintenance of domestic central heating and gas appliances, serving 16.6 million customers. In addition, their customers turn to them to provide expert, hassle-free care that takes care of their kitchen appliances, home electrics and plumbing and drains. Everything they do is driven by their desire to deliver high quality products and services. They operate in England and Wales under the British Gas brand name and as Scottish Gas in Scotland. Among a total workforce of 28,000, British Gas employs more than 9,000 trained engineers who carry out servicing and break-down calls. In 2008, 2.2% of its engineering workforce was female and 4.6% were from an ethnic minority background. Against the background of a highly competitive energy market, they continue to be the first choice gas supplier for millions of customers. WhatÃ¢â¬â¢s more, since the residential electricity market opened to competition in 1998, theyÃ¢â¬â¢ve grown to become the largest supplier of electricity to residential customers in Britain. 2.0 Challenges faces by HR managers at British Gas Over the last 20 years, the workplace has changed in more ways than one could have ever imagined, resulting from the increase in technology, innovation and globalization, new employment legislations, different attitude in society, economic recession and ethnic diversification. The next decade will bring even greater change, impacting all facets of the workplace, including major changes for the HR department and HR managers. In order to respond to the demands of globalization, HR managers at British gas will require newÃ skills and competencies relating to language and culture, technology capabilities, methods to measure and quantify effectiveness and evaluate strategies and return on investment. Evidently, these skills and competencies will result in an emerging new role for HR managers, requiring them to be strategic business partner, supportive of the overall corporate strategy. The role of HR managers has changed from a less administrative role to more of a strategic role. HR managers will continually be required to prove their effectiveness and their existence. They will be expected to understand strategic business practices and promote cultural diversity within the organization. They will need to understand the core business of the organization and become partners with line managers. They will need to prove that their initiatives and programs are result-oriented, providing specific measurable results in terms of business competitiveness that contribute positively to the bottom-line of the organization. They will be required to stay current with leading edge as more and more organization is faced with the demands of globalization and strategic alliances with other competitive organizations in the energy sector in UK. Whilst the current economic climate is clearly influencing the agenda for HR leaders, the challenges of retaining, motivating and aligning em ployees remain a priority. The results show that more than ever there is pressure on HR to deliver real business impact, and to do so with HR costs constrained. (The green village, 2009) Intuitive talent management systems, designed for the business as well as HR, can play a critical part in ensuring the organizational adoption of any talent strategy. The number of respondents prioritizing the need for performance management, succession and career planning systems shows that HR managers realize the importance of enabling technology in executing talent management programs. Workplace flexibility is expected to be on the rise as the future workplace, the Ã¢â¬Ëvirtual officeÃ¢â¬â¢ is characterized by creative and flexible work arrangements. As more employees work off-site-up to two thirds of an organization in the 21st century Ã¢â¬â there will be an increase in emphasis on performance and results as opposed to the number of hours worked. In addition, off-site employees can expect to attend fewer meetings. Specified work will become much more collaborative and management will spend nearly all its time managing cross-functional work teams who enjoy a lot of autonomy. In essence, there will be a movement, aÃ trend towards a decentralized model of HR. HR managers will have to accommodate employees in their virtual work locations and find ways to manage corporate culture, socialization and employee orientation. In order to obtain and maintain a competent workforce, they must act as organizational performance experts and shape employees behavior without face to face meetings.( Research and markets, 2009) Globalization will impact HR managers by requiring new skills such as language capabilities. For e.g., in order to recruit employees from other cultures, HR managers will either have to learn new languages or else they will certainly have to have foreign speakers on staff. But in order to facilitate communication among p eople coming from a wide range of language backgrounds in UK. Organization must take into account cultural differences that shape managerial attitudes, when developing multinational management programs. For e.g., British managers value individual achievement and autonomy, whereas French managers appreciate competent supervision, fringe benefits, security and comfortable conditions, while Indian managers gives more importance of their culture and tradition. HR managers in British gas must therefore be familiar with and understand other cultural norms to promote organization diversity. An organization that recognizes and promotes cultural diversity will benefit because it will be employing the market that it serves. With increasing globalization and competition within the market, a diverse workforce is conducive to attracting and retaining a strong client base. While competing in an international market, employees from diverse national backgrounds provide language skills and understanding of other cultures. HR professionals will also be responsible for providing cultural sensitivity training for the organizations employees and for managers throughout the entire organization. (Czebter, Anamaria, 2002) HR professionals play a critical role in the globalization process by helping companies evaluate the human resource prospects and possibilities involved in moving to different regions of the world (Marsnik and Luthans, 1997). As the global economic crisis continues to impact businesses, employee retention is seen as the greatest challenge overall. This reflects the need for organizations to identify and retain top talent during a period when internal mobility is essential to retain a competitive edge and ensureÃ company survival as the UK economy slows. Since 2006, the Ã¢â¬ËHR ChallengesÃ¢â¬â¢ research has found that employee retention is the biggest concern for HR managers. In an unstable economy, employee engagement tools such as effective goal alignment, internal mobility, career planning and succession programs are essential for motivating the workforce. According to reports, almost half of HR managers named Ã¢â¬Ëa system to improve performance management, succession and career planningÃ¢â¬â¢ as the one thing that would help them do their jobs better in 2009. Whilst the current economic climate is clearly influencing the agenda for HR leaders, the challenges of retaining, motivating and aligning employees remain a priority. 3.0 HRM Models 3.1 GuestÃ¢â¬â¢s model of HRM David GuestÃ¢â¬â¢s (1989, 1997) model of HRM has 6 dimensions of analysis: * HRM strategy * HRM practices * HRM outcomes * Behavior outcomes * Performance outcomes * Financial outcomes The model is prescriptive in the sense that it is based on the assumption that HRM is distinctively different from traditional personnel management .It is idealistic, implicitly embodying the belief that fundamental elements of the HRM approach (essentially those of the Harvard map) such as commitment have a direct relationship with valued business consequences. However, Guest has acknowledged that the concept of commitment is Ã¢â¬ËmessyÃ¢â¬â¢ and that the relationship between commitment and high performance is (or, perhaps, was Ã¢â¬â given the age of this material) difficult to establish. It also employs a Ã¢â¬ËflowÃ¢â¬â¢ approach, seeing strategy underpinning practice, leading to a variety of desired outcomes. Like its American predecessors, this UK model is unitarist (tying employee behavior and commitment into the goals of strategic management) and lukewarm on the value of trade unions. The employee relationship is viewed as one between the individual and the organizat ion. 3.2 The Harvard Model of HRM This map is based on an analytical approach and provides a broad causal depiction of the Ã¢â¬Ëdeterminants and consequences of HRM policies.Ã¢â¬â¢ It shows human resource policies to be influenced by two significant considerations: * Situational factors in the outside business environment or within the firm such as laws and societal values, labor market conditions, unions, work-force characteristics, business strategies, management philosophy, and task technology. According to Beer et al these factors may constrain the formation of HRM policies but (to varying degrees) they may also be influenced by human resource policies. * Stakeholder interests, including those of shareholders, management employees, unions, community, and government. Beer et al argue that human resource policies SHOULD be influenced by ALL stakeholders. If not, Ã¢â¬Ëthe enterprise will fail to meet the needs of these stakeholders in the long run and it will fail as an institution.Ã¢â¬â¢ The authors also contend that human resource policies have both immediate organizational outcomes and long-term consequences. Managers can affect a number of factors by means of the policy choices they make, including: Ã¢â¬â The overall competence of employees, Ã¢â¬â the commitment of employees, Ã¢â¬â the degree of congruence between employeesÃ¢â¬â¢ own goals and those of the organization, and Ã¢â¬â the overall cost effectiveness of HRM practices. 3.3 HR Activities of British Gas British Gas ran a number of diversity workshops, primarily for its senior and middle managers, to engage them and help them understand what the organization was trying to achieve and why it was trying to achieve it, and show them what a diverse workforce would look like Ã¢â¬Ëon their patchÃ¢â¬â¢. Meanwhile, all managers who are either involved in recruiting and/or managing staff and all recruitment specialists have undergone equality and diversity training to again ensure they fully understand what British Gas is trying to achieve and why, and are able to make decisions free from bias. When recruiting British gas use technical skills to undertake the work to the required standard to having the people skills to deliver excellentÃ customer services. As a result, recruitment and selection of apprentices and trainees is increasingly focusing on recruiting for attitude. Examples of attributes and competencies that British Gas looks for are listed on the Recruitment website and inclu de: Ã¢â" Good communication, organizational and problem-solving skills Ã¢â" Aptitude for team work Ã¢â" Careful, accurate and methodical approach Ã¢â" Polite, tactful, friendly, professional, with a pleasant manner for dealing with customers. With the change in emphasis away from pure technical skills to behaviors and attributes, there were initial concerns that the quality of the intake or the pass rates could drop within the Academy. Carole Willsher says: Ã¢â¬ËWe were a little worried that we would get apprentices and trainees with great people and communication skills, but who were technically not very good. But thatÃ¢â¬â¢s not been borne out at all. The pass marks remain very high. It shows that if youÃ¢â¬â¢ve got the attitude to want to learn and get on, you can do really well All the recruitment policies, practices and literature have been reviewed to remove any gender or race bias. In addition, a thorough audit of policies and practices to remove any age bias was carried out at group level by parent company Centrica ahead of the Employment Equality (Age) Regulations in 2006. It brought to light the need to make a number of changes, the most significant of which was the removal of upper age limits for entrance to the British Gas apprenticeship scheme (Previously, the scheme was targeted at young adults in the 17Ã¢â¬â23 age range). British Gas is focusing this year on developing partnerships with organizations that have already built strong links with its target audiences, including Job centre Plus; the London Development Agency; housing associations and specialist groups including the Windsor Fellowship, a charity that offers educational and leadership programs to develop diverse young talent; Women and Manual Trades; and YWCA, a charity working with disadvantaged women in England and Wales. 4.0 Recruitment and selection The overall aim of the recruitment and selection process should be to obtain at minimum cost the number and quality of employees required to satisfy the human resource needs of the company. The three stages of recruitment and selection dealt with are 1. Defining requirements Ã¢â¬â Preparing job descriptions and specifications; deciding terms and conditions of employment; 2. Attracting candidates Ã¢â¬â reviewing and evaluating alternative sources of applicants; inside and outside the company, advertising, using agencies and consultants; 3. Selecting candidates Ã¢â¬âsifting applications, interviewing, testing, assessing candidates, assessment centers, offering employment, obtaining references; preparing contract of employment. (Armstrong, 2007) 4.1 British Gas Recruitment and Selection Process The greater focus on customer service skills and personal attributes is reflected throughout the recruitment process itself. The initial application form must now be completed online. Basic biographical information is requested, and applicants are required to complete basic Maths, English and logic tests. However, the key part of the application is a personality/work style questionnaire, which is used to assess an applicantÃ¢â¬â¢s suitability. Applicants must respond to a series of questions designed to assess their attitude to work and people. The questionnaire is lengthy, as similar questions are asked in a number of different ways to ensure consistency of responses. Applicants who score highly after this initial screening then have a telephone interview to confirm essential information Ã¢â¬â for example, to be eligible for the apprentice technical engineer program, applicants must be aged at least 17, must have four GCSEs at grade C or above, and must hold a full or provision al UK driverÃ¢â¬â¢s license. Those who pass this stage are then invited to an assessment centre. There are three elements to the assessment day Ã¢â¬â an interview, a role play exercise and a manual dexterity test. The interview is largely based around questions relating to the candidateÃ¢â¬â¢s completed online questionnaire to further assess their personalÃ attributes and competencies. Similarly, the role play is also used to assess a candidateÃ¢â¬â¢s attitude and whether they are able to understand and assimilate information, but more importantly, to see how they deal with customers. The test involves a practical assessment, but no gas-related knowledge is required Ã¢â¬â it is simply designed to assess whether the candidate is able to follow step-by-step instructions and handle small components. The recruitment process is lengthy but thorough and a big investment in terms of time and resources for British Gas, admits Carole Willsher. Ã¢â¬ËBut itÃ¢â¬â¢s been designed that way to ensure that we ge t the right people with the right skills who will fit into our organization and help us move closer to where we want to be in terms of having a diverse engineering workforce.Ã¢â¬â¢ Recruiting is an uncertain game, even at the best of times. On the other hand the larger your pool of candidates, the greater your chance of finding someone who is just right for you. However, this possibility has to be balanced again the fact that you canÃ¢â¬â¢t interview hundreds of candidates for every available post. So you need to develop the expertise of defining your job requirements, while ensuring that these requirements are presented to the widest possible field of candidates in the given context. (Pettinger and Allen, 2007) British Gas ran a number of diversity workshops, primarily for its senior and middle managers, to engage them and help them understand what the organization was trying to achieve and why it was trying to achieve it, and show them what a diverse workforce would look like Ã¢â¬Ëon their patchÃ¢â¬â¢. Meanwhile, all managers who are either involved in recruiting and/or managing staff and all recruitment specialists have undergone equality and diversity training to again ensure they fully understand what British Gas is trying to achieve and why, and are able to make decisions free from bias. Selection involves a number of costs; the cost of the selection process itself including the use of various instruments, the future costs of inducting and training new staff and the cost of labor turnover if selected staff is not retained. (Bratton and Gold, 2000) 4.2 British Gas Targeted advertising British Gas uses a variety of ways and media to appeal to its target audiences, including: Ã¢â" advertising in magazines like Ã¢â¬ËBlissÃ¢â¬â¢ and Ã¢â¬ËSugarÃ¢â¬â¢ which are aimed at teenage girls, careers-type websites like Voice and The Asian News, and the gay media Ã¢â" redesigning its recruitment advertisements in terms of both images and language to reach Out to people from more diverse backgrounds Ã¢â" ensuring that marketing materials such as recruitment brochures and its dedicated recruitment website (www.britishgasacademy.co.uk) portray a diverse range of individuals to help challenge stereotypical attitudes and project an inclusive image Ã¢â¬â for example, the website contains a number of real apprentice and trainee profiles including Kirk (a BME apprentice technical engineer) and Maria (a female BME trainee electrical field engineer) Ã¢â" producing DVDs for schools and partner organizations One of the key objectives of the diversity team is to increase the number of applications from under-represented groups. To attract as wide a range of talent as possible, the team has introduced changes to all areas of the recruitment and selection process, including developing partnerships with organizations that have already established relationships with their target audiences; reviewing all its policies and practices to remove any gender, race or age bias; and changing the emphasis from recruiting for technical ability to recruiting for attitude. 4.3 Outreach The diversity team adopts a number of positive action strategies to raise awareness of the different opportunities available at British Gas among under-represented groups including running taster days and building partnerships with organizations that already work with people who are among their target audience 4.4 Partnership working Recognizing that there are difficulties gaining access to under-represented groups, British Gas is focusing this year on developing partnerships with organizations that have already built strong links with its target audiences, including Job centre Plus; the London Development Agency; housing associations and specialist groups including the Windsor Fellowship, a charity that offers educational and leadership programs to develop diverse young talent; Women and Manual Trades; and YWCA, a charity working with disadvantaged women in England and Wales. Another way that British Gas is developing partnerships is by working with other large employers, particularly those that experience similar issues in the recruitment of a diverse workforce, such as the London Fire Brigade and BT Open reach. The aim of these relationships is to share best practice and data for benchmarking purposes. 4.5 Taster days British Gas regularly runs women-only and BME taster days, with the specific aim of attracting women and ethnic minorities into engineering and apprenticeships. The day is designed to give participants a clearer understanding of the engineering opportunities at British Gas. Attendees are given a presentation on the career paths available, an opportunity to meet engineers to find out what the job is really about, and a chance to question a panel of recruitment and training experts from the Academy. Taster days are usually planned to coincide with the availability of apprentice or trainee positions in a particular area, so that if people are interested by what they find out, they can apply while they are still keen. 4.6 Ambassadors British Gas has developed a network of engineering Ã¢â¬ËambassadorsÃ¢â¬â¢ from its workforce Ã¢â¬â apprentices, trainees and qualified engineers Ã¢â¬â who provide support to the diversity team in recruitment and awareness-raising activities including school visits, careers events and taster days. They areÃ able to promote a positive side to engineering and their ability to tell people firsthand what they do on a day-to-day basis and what it is really like to work for the organization is a powerful tool in changing perceptions and in motivating young people, women and those from a BME background to consider a Ã¢â¬Ënon-traditionalÃ¢â¬â¢ career in engineering. The ambassadors are also used as role models in promotional materials such as DVDs, recruitment brochures and the AcademyÃ¢â¬â¢s dedicated website, and in media campaigns. 5.0 Training and Development Training enables people to perform better in their jobs, when they perform better they feel pride and fulfillment. (Allen, 1996) To attempt to identify the dynamics in an organization which demonstrate that development of self and others is being taken seriously at all levels and that such investment is having a positive impact on individual and corporate performance. Such a quest begs all sorts of questions, Does strategic training only incorporate that which has a quantifiable effect on business objectives.( Mabey and Salaman ,1999) 5.1 British Gas Training & Development At British Gas take training and development very seriously, beginning with an induction program that will give all the skills need to succeed. They want people training to be a rewarding and enjoyable experience, so have made sure that trainees are involved all the way through from day one until graduation. And trainees will find that the more they put in, the more theyÃ¢â¬â¢ll get out, with the ultimate goal to be ready for a role within one of our existing British Gas Energy Sales teams. Trainees will learn not only about the history of British Gas, but also brand and what it means. Naturally this will include their fantastic products and services, so traineesÃ¢â¬â¢ have the confidence to talk to people about all their energy and home services needs. CompanyÃ¢â¬â¢ll also look at the important sales side of the role, helping trainees refine their existing skills, or develop new ones if they donÃ¢â¬â¢t come from a sales background. Once completed training, theyÃ¢â¬â¢ll be supported through their first few weeks by an experienced buddy who willÃ be on hand to offer guidance and develop skills further. In addition manager will also regularly review progress and answer any queries so trainee wonÃ¢â¬â¢t be left feeling on their own. In short, company has an excellent training package waiting for recruits. Training that will give them the skills and knowledge which, in addition to natural enthusiasm, will help take advantage of company position as the largest energy supplier in the UK when speaking with prospective and existing customers. RecruitÃ¢â¬â¢ll also be rewarded for efforts with continued development opportunities. 5.2 British Gas AcademyBBBBB Energy Academy Box 2: The British Gas Energy Academy Established in 2003, the British Gas Energy Academy (the Ã¢â¬ËAcademyÃ¢â¬â¢) was set up to address a severe shortage of qualified gas engineers. This was caused largely by the privatization of the gas industry in 1986, which led to major fragmentation of the industry Ã¢â¬â large organizations were broken up while new players entered the market, and the number of qualified engineers in the UK failed to keep up with demand. With a plan to recruit an additional 5,000 new engineers by 2007/08 to address this skills shortage, and recognizing the significant financial investment this would involve, British Gas created the Academy, bringing together existing internal training centers, the recruitment function and the management of third-party training. This facility enabled British Gas to recruit and train large groups of suitable individuals to become fully competent engineers. The Academy runs two types of training programs for those who choose a career as an engineer: it offers apprenticeships for individuals wishing to become technical engineers responsible for central heating system maintenance and installation, and traineeships, primarily for people looking for a career change, so they become qualified engineers responsible for maintaining electrical and gas appliances. In addition to training new recruits, the training centers are used for mandatory competency training and three-yearly assessments of trained engineers to ensure they maintain their skills and keep up to date with new information and technologies. Today: Ã¢â" the remit of the Academy has since been expanded to handle all volume recruitment for British Gas, including call centre and sales staff as well as induction and skills training for call centre and operational agents and team leaders Ã¢â" allÃ recruitment is channeled through a dedicated website, www.britishgasacademy.co.uk, which has around 38,000 visitors a month Ã¢â" the Academy invests around Ã £30 million each year recruiting and training staff Ã¢â" training is delivered at a number of purpose-built facilities across the UK, stretching from Hamilton in Scotland to hatcham in Berkshire. 6.0 Performance Management Performance management is a process on performance measurement approaches, such as the balanced scorecard. While the balanced scorecard offers a framework for the collection of strategic information, performance management ensures that results are used to influence the selection of planned actions and to foster the renewal of dynamic, competitive strategy. Unlike most tools and techniques, performance management is a continuous, enterprise-wide process, rather than a one-time, isolated event. Six Performance Management imperatives are Compliance Management, Profitability Management, Cost Management, Performance Improvement, and Business Innovation 6.1 British Gas Performance Management British Gas performance appraisals Serve as an objective basis for communicating about performance and Enable the employee to differentiate between unacceptable and acceptable results. Increasing job, inform new expectations about job performance and encouraging the open and trusting relationship with employees. Performance expectations are the foundation for appraising employee performance. Standards recognize is a baseline for measuring performance. From performance standards, supervisors can provide specific feedback relating the gap between expected and actual performance. 6.2 British Gas use following steps to review employee performances Ask the employee to meet for the review; have the employee estimate progress-to-date. Begin meeting by asking employee to estimate progress-to-date toward each goal. Listen to employeeÃ¢â¬â¢s comments and take notes. Discuss progress and praise employee, Manager and employee need to engage in fact-finding and determining progress-to-date. It is vital thatÃ regardless of how far away employee is from meeting the goal, manager praise him/her for his/her progress-to-date. Re-negotiate goals and/or resources where deviation is significant, If the deviation is downward, manager and his employee should discuss causes and solutions to agree on appropriate actions. Appropriate actions may include increasing available resources, agreeing on activities which will enable employee to meet goals or adjust the goals downward. If, on the other hand, employee is exceeding goals, manager should discuss how added effort and/or resources may be utilized to further exceed the goal. Manager and his employee may decide to add additional goals at this time as well. Write down new agreements and set a follow-up date, Take notes during the discussion. These should be used as a summary of the agreements so that both manager and his employee can review them. A new follow-up session should be scheduled at a time when the data will be available to evaluate progress toward the goal(s). Thank employee, But what if the performance has been below agreed targets; the appraiser must be able to review and set objectives which will improve performance. Performances discussions are monitored externally to ensure consistency .Staff are introduced to a series of mutual benefits. For the individual it stressed clarity of expectations, strengths, feedback on results and the improvement in motivation and ability to independently gain recognition. For the organization it stresses performance, team sprit, accountability, reduced errors and flexibility. Performance appraisals looks forward to agree standards, targets and training that will help improve performance and achieve company business objectives. 7.0 References Armstrong,M.(2007)A hand book of human resource management practice ,10th edÃ¢â¬ ¦,London: Kogan Page Hendry,C.(1995) Human resource management a strategic approach to employment , 1st edÃ¢â¬ ¦, Oxford: Butterworth Ã¢â¬â Heinemann Marbey,C and Salaman,G. (1998) Human resource management a strategic introduction ,2nd edÃ¢â¬ ¦, Oxford: Blackwell Publishers Bratton,J and Gold,j.(2000) Human resource management theory and practice ,2nd edÃ¢â¬ ¦,London: MACMILLAN press Schuler,R and Jackson,S (1999) Strategic human resource management , 1st edÃ¢â¬ ¦, Oxford: Blackwell Publishers Allen,J.(1996) Motivating people , 1st edÃ¢â¬ ¦, London: Kogan Page Forsyth,P.(2001) Developing your staff, 2nd edÃ¢â¬ ¦, London: Kogan Page Pettinger,R and Allen,K.(2007) Weekend MBA , 1st edÃ¢â¬ ¦, West Sussex: John Willy & Sons British Gas (2009)Ã¢â¬â¢Valuing EmployeesÃ¢â¬â¢, web page accessed on 19/12/2009 from http;//www.britishgas.co.uk Total Success (2009) Ã¢â¬ËPerformance AppraisalsÃ¢â¬â¢, web page accessed on 13/12/2009 from http;//www.totalsuccess.co.uk Guardian (2009) Ã¢â¬Ë British energy industryÃ¢â¬â¢, web page accessed on 10/12/2009 from http;// www.guardian.co.uk British Gas (2009)Ã¢â¬â¢British gas academyÃ¢â¬â¢, web page accessed on 17/12/2009 from http;//www.britishgas.co.uk British Gas (2009)Ã¢â¬â¢Our businessÃ¢â¬â¢, web page accessed on 08/12/2009 from http;//www.britishgas.co.uk British Gas (2009)Ã¢â¬â¢Career influencersÃ¢â¬â¢, web page accessed on 15/12/2009 from http;//www.britishgas.co.uk British Gas (2009)Ã¢â¬â¢ResourcesÃ¢â¬â¢, web page accessed on 18/12/2009 from http;//www.britishgas.co.uk British Gas (2009)Ã¢â¬â¢how weÃ¢â¬â¢ve structuredÃ¢â¬â¢, web page accessed on 19/12/2009 from http;//www.britishgas.co.uk British Gas (2009)Ã¢â¬â¢Training and developmentÃ¢â¬â¢, web page accessed on 19/12/2009 from http;//www.britishgasjobs.co.uk
Saturday, January 4, 2020
Bed bugs arent easy to get rid of, and in desperation, you might be tempted to try the first remedy you read about online. Unfortunately, many of these are ineffective, and some can even be dangerous. Should you ever find yourself battling bed bugs, make sure you know the facts and misconceptions about bed bug treatment. Knowing what works and what doesnt will save you time, money, and aggravation. Fact: Youll Need to Call Pest Control The most effective means of getting rid of bed bugs is pesticides applied by a trained professional.Ã But many pros will also recommend that you give your home a thorough cleaning because bed bugs can hide anywhere, and pesticides cant be applied to everything you own. Youll need to get rid of yourÃ clutter and launder everything thats washable in hot water. You also may need to steam-clean your carpets and furniture. Fact: Pesticides Dont Always Work Bugs can develop resistance to pesticides over time, especially if theyre overapplied. Chemicals that were once commonly used, such asÃ deltamethrin, are no longer effective. And if research from 2017 is correct, bed bugs may be developing resistance toÃ pyrethrums, the most common chemical used against bed bugs.Ã Fact: You May Not Have to Toss Your Furniture If the infestation is caught early, a professional pest application and diligent cleaning on your part should remove bugs from your furniture. More severe infestations are another matter. If your mattress is torn or separated at the seams, bed bugs have probably moved inside, making treatment near impossible.Ã Fact: Mattress Covers Work A number of companies makeÃ bed bug mattress covers, or mattress encasements if youre concerned about bed bugs. These covers create an impenetrable barrier to bed bugs around the outside of your mattress. If youve had your home treated for a bed bug infestation, using a mattress cover can prevent any remaining bugs in your mattress from getting out and biting you. Myth: You Can Kill Bed Bugs With Bug BombsÃ Bug bombs, or total room defoggers, release a pesticide into the air in your home.Ã Most bug bombsÃ do contain pyrethrin, a chemical used to treat bed bugs, so you might think this product is an effective way to eliminate a bed bug infestation. Not so. First of all, bed bugs (and other crawling insects) typically flee when the pesticide is released, heading for cover in the deepest, most inaccessible crevices of your home. Second, effective bed bug treatment requires directed applications in all the places where bed bugs hide: behind molding and casework, inside electrical boxes, or inside mattresses, for example. A bug bomb will not reach these areas adequately to kill all the bed bugs in your home. Myth: Bed Bug Sniffing Dogs Always Work Companies that use bed bug sniffing dogs may charge between $500 and $1,000 for their detection service and may claim a success rate of over 90 percent. But the truth is, there hasnt been a lot of testing to see if these claims are true. In 2011, two researchers at Rutgers University did put some bed bug sniffing dogs through their paces in real apartment buildings, and the results were nowhere near as good as advertised. The accuracy of the dogs in detecting bed bugs averaged just 43 percent. Myth: You Can Kill Bugs By Turning Up The Heat Heat treatments do kill bed bugs effectively, but simply turning up your homes thermostat is not a heat treatment. For this method to work, your home must be heated evenly to over 120 degrees Fahrenheit for at least an hour. That includes the voids in exterior walls and the insides of your furniture, and a home heating system cant do that. A professional heat treatment usually involves enclosing your home and using multiple heat sources in throughout the home to raise the temperature. Myth: You Can Kill Bugs By Turing Off Your Heat Temperatures below 32 degrees Fahrenheit can and do kill bed bugs outside if temperatures remain below freezing for a prolonged period of time. But no one would want to live in a freezing house, and moving out for the two to three months that it would take to starve bed bugs of their source of food (you) is equally impractical. Sources:Ã Bed bugs bite back thanks to evolution, Understanding Evolution, September 2010.Limitations of Home Insect Foggers (Bug Bombs), Michael F. Potter, Extension Entomologist, University of Kentucky College of Agriculture.Bat Bugs, Bed Bugs, and Their RelativesÃ (PDF), W.S. Cranshaw, M. Camper and F.B. Peairs, Colorado State University Extension.Detection Tools and Techniques, by Dr. Changlu Wang and Richard Cooper, Pest Control Technology, August 2011Bed Bug Myths and Facts, NYC Department of Health and Mental Hygiene.Your Guide to Bed Bugs, Pest Control Technology, August 2004.FAQ List for Bed Bugs, New York State Integrated Pest Management Program, Cornell University.
Friday, December 27, 2019
Effective Measures to Decrease Recidivism for Incarcerated Female Inmates Tonia P. Tippins University of Alaska Anchorage Introduction Evidence-based interventions have proven to be an effective measure to decrease recidivism for incarcerated female inmatesÃ¢â¬â¢ despite over the past years the incarceration rate had drastically increased. In-prison treatment programs are tailored to reduce risk of recidivism when released and to reduce disruptive behavior within (Bonta, Pang, Wallace-Capretta, 1995). The risk-reduction model focus on recidivism; it identifies risk factors that causes the behavior and empirically shown to predict reoccurrences; whereas, the enhancement model focus on the psychological and physical well-being of the inmate; Ã¢â¬Å"it identifies improvement matters such as coping with physical or sexual abuse, parenting, and HIV risk (Schram Morash, 2002), with the assumption that improved psychosocial well-being will ultimately reduce womenÃ¢â¬â¢s likelihood of criminal behaviorÃ¢â¬ (Sorbello, Eccleston, Ward, Jones, 2002, p. 15). Risk-reduction model. According to (Chesney-Lind, 1998; Covington, 1998) substance abuse is more prevalent in female offenders (p.16). Studies show that female offenders history of substance abuse plays a critical role in the initiation and continuation of female criminal behavior (Peugh Belenko, 1999). Often times female offenders have admitted to using drugs of some sort at the time of incarceration or committed crimes inShow MoreRelatedSelf Efficacy And Self Control Essay1700 Words Ã |Ã 7 PagesRosenberg Self-Esteem Scale found 8.74% increase in self-confidence for music groups, but not with art groups. None Strengths: included music and art experiment groups, included control group, multiple measures and assessments Limitations: Small sample size, discrepancies in testing measures, interventions not completed within 8 week time allocation, not randomized, inadequate testing environment Cohen (2009) The Friedman Well-Being Scale showed an increase in self-confidence for experiment 2 groupRead MoreUnintended Consequences Of The State Prison System1010 Words Ã |Ã 5 Pagescounty will only cut spending in state prisons,Ã¢â¬ and may fail to lower the overall costs of corrections in California (Owen Mobley, 2012, p. 47). 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Our court system should not only focus on punishing theRead MoreShould Private Prisons Be Increased Social Problems?1560 Words Ã |Ã 7 Pages Faced with a glaring deficit and terrifying examples of ineffective spending around the globe, lawmakers looking for cost-saving measures would do well to turn to prisons. Prison reform must attain the lowest economic costs, lowering actual taxpayer dollars spent without giving up the benefits of attaining important social goals, which represent another form of cost when lost. Undoubtedly, the current prison system is doing little to separate the US from its international counterparts in minimizingRead MoreToday s Criminal Justice Over The Past Few Decades1307 Words Ã |Ã 6 Pagespenalties amid the extremes of imprisonment and regular probation. Usually, increases in crime ha ve been retorted with increases in imprisonment. This has developed a counterproductive model that often lead to overcrowded prisons and jails, early release of potentially dangerous criminals, and corrections budgets that eat away state funds. In an effort to be hard on crime, many jurisdictions are making their incarceration standards harsher. Regular probation isnÃ¢â¬â¢t the answer either. The security ofRead MoreThe Punishment Of Prison System825 Words Ã |Ã 4 Pages In principle, prison system plays important role in the society through reforming and punishing offenders sent to prison and preventing potential offenders. In recent years, there has been a significant increase in the number of in prisoners in the US prisons system, because prison is used as the primary correction facility for offenders while ensuring justice to offended (Guerino 20). Prisons comprise of offenders who are above the county jail level. Further, inmates comprise of people from differentRead MoreConsequences Of Drinking And Driving1280 Words Ã |Ã 6 Pagesmany people still find themselves behind the wheel of a vehicle after consuming too much alcohol and are quickly found to be in violation of the laws set forth. Alcohol is a key factor in many traffic accidents and the lethality of these accidents increase when alcohol is involved, lead ing to 41% of all traffic fatalities being caused by a DUI offender in 2002 (Hingson Winter 63). Driving under the influence (DUI) of alcohol can be defined as being over an established limit of Blood Alcohol Concentration
Thursday, December 19, 2019
Graduate School of Business Administration University Version 2.0 of Virginia UVA-F-1353 Version 2.0 Nike, Inc.: Cost of Capital On July 5, 2001, Kimi Ford, a portfolio manager at NorthPoint Group, a mutual fund management firm, pored over analyst write-ups of Nike, Inc., the athletic shoe manufacturer. NikeÃ¢â¬â¢s share price had declined significantly from the start of the year. Kimi was considering buying some shares for the fund she managed, the NorthPoint Large-Cap Fund, which invested mostly in Fortune 500 companies with an emphasis on value investing. Its top holdings included ExxonMobil, General Motors, McDonaldÃ¢â¬â¢s, 3M and other large-cap, generally old-economy stocks. While the stock market declined over the last 18 months, NorthPointÃ¢â¬ ¦show more contentÃ¢â¬ ¦Since she was about to go into a meeting, she requested her new assistant, Joanna Cohen, to estimate NikeÃ¢â¬â¢s cost of capital. Joanna immediately gathered all the data she thought she might need (Exhibits 1 through 4) and set out to work on her analysis. At the end of the day, she submitted her cost of capital estimate and a memo (Exhibit 5) explaining her assumptions to Ms. Ford. -3- UVA-F-1353 Exhibit 1 Nike, Inc.: Cost of Capital Consolidated Income Statements Year Ended May 31 (In millions except per share data) 1995 1996 1997 1998 1999 2000 2001 Revenues Cost of goods sold Gross profit Selling and administrative Operating income Interest expense Other expense, net Restructuring charge, net Income before income taxes Income taxes Net income 4,760.8 2,865.3 1,895.6 1,209.8 685.8 24.2 11.7 649.9 250.2 399.7 6,470.6 3,906.7 2,563.9 1,588.6 975.3 39.5 36.7 899.1 345.9 553.2 9,186.5 5,503.0 3,683.5 2,303.7 1,379.8 52.3 32.3 1,295.2 499.4 795.8 9,553.1 6,065.5 3,487.6 2,623.8 863.8 60.0 20.9 129.9 653.0 253.4 399.6 8,776.9 5,493.5 3,283.4 2,426.6 856.8 44.1 21.5 45.1 746.1 294.7 451.4 8,995.1 5,403.8 3,591.3 2,606.4 984.9 45.0 23.2 (2.5) 919.2 340.1 579.1 9,488.8 5,784.9 3,703.9 2,689.7 1,014.2 58.7 34.1 921.4 331.7 589.7 1.36 294.0 1.88 293.6 2.68 297.0 1.35 296.0 1.57 287.5 Growth (%) Revenue Operating income Net income 35.9 42.2 38.4 42.0 41.5Show MoreRelatedNike Cost of Capital711 Words Ã |Ã 3 PagesNIKE, INC. COST OF CAPITAL Context: Estimating Cost of Equity with different methods. Compute WACC NikeÃ¢â¬â¢s current price per share= $ 42.09 Question: Is it undervalued or overvalued to make buy /sell decision? Forecasts for Cash flows, Dividend growth, EPS estimates for NIKE are given. Interest rate #Ã¢â¬â¢s, Betas, Book values on debt and equity are given. Also historical performance #s are given. At 12% WACC Nike is overvalued and hence sell decision; At 11.17% correct valuation; WACCRead Morenike cost of capital1980 Words Ã |Ã 8 PagesUV0010 NIKE, INC.: COST OF CAPITAL On July 5, 2001, Kimi Ford, a portfolio manager at NorthPoint Group, a mutual-fund management firm, pored over analystsÃ¢â¬â¢ write-ups of Nike, Inc., the athletic-shoe manufacturer. NikeÃ¢â¬â¢s share price had declined significantly from the beginning of the year. Ford was considering buying some shares for the fund she managed, the NorthPoint Large-Cap Fund, which invested mostly in Fortune 500 companies, with an emphasis on value investing. Its top holdings included ExxonMobilRead MoreNike Inc. - Cost of Capital1368 Words Ã |Ã 6 Pagesit so important to estimate a firms cost of capital? The WACC (weighted average cost of capital) is a percentage figure resulting from a calculation method by which the adequate cost of capital of a firm is expressed. It considers the composition of a companyÃ¢â¬â¢s funding, be it debt or equity. A corporation whose source of funding is equity by 100 percent will have a WACC equal to the cost of equity. By contrast, a levered company will have to reflect the cost of debt as well. The WACC takes theirRead MoreNike Cost of Capital Case2415 Words Ã |Ã 10 Pagesmanagement firm. In July 2001, Ford considered buying shares of Nike, Inc., the well-known athletic shoe manufacturer. It would be prudent of Ford to base her assessment on NikeÃ¢â¬â¢s financial reports for 2001. Around the same time, Nike held an analystsÃ¢â¬â¢ meeting to disclose those financial results. They also addressed ways to revitalize the company, since share price was beginning to decline and revenues had plateaued at around $9 billion. Although Nike projected a rosy future, many analysts had mixed reactionsRead MoreNike Inc Cost of Capital2974 Words Ã |Ã 12 PagesIntroduction Kimi Ford is a portfolio manager at NorthPoint Group, a mutual-fund management firm. She is evaluating Nike, Inc. (Ã¢â¬Å"NikeÃ¢â¬ ) to potentially buy shares of their stock for the fund she manages, the NorthPoint Large-Cap Fund. This fund mostly invests in Fortune 500 companies, with an emphasis on value investing. This Fund has performed well over the last 18 months despite the decline in the stock market. Ford has done a significant amount of research through analystsÃ¢â¬â¢ reportsRead MoreEssay on Nike Cost of Capital Case1615 Words Ã |Ã 7 PagesNIKE, INC.: COST OF CAPITAL On July 5, 2001, Kimi Ford, a portfolio manager at NorthPoint Group, a mutual-fund management firm, pored over analysts write-ups of Nike, Inc., the athletic-shoe manufacturer. Nikes share price had declined significantly from the beginning of the year. Ford was considering buying some shares for the fund she managed, the NorthPoint Large-Cap Fund, which invested mostly in Fortune 500 companies, with an emphasis on value investing. Its top holdings Read MoreEssay about Cost of Capital Nike974 Words Ã |Ã 4 PagesÃ¯ » ¿Case Analysis of Nike, Inc.: Cost of Capital Apparently, the issue of NikeÃ¢â¬â¢s case is to control and check the calculation cost of capital done by Joanna Cohen who is the assistant of a portfolio manager at NorthPoint Group. But I am willing to tell you that it can be a complex case in which we can doubt about sensitivity analysis done by Kimi Ford (portfolio manager) because her assumptions such as Revenue Growth Rate, COGS / Sales,Ã S A / Sales, Current Assets / Sales, and Current LiabilityRead MoreCase 14 Nike: Cost of Capital Essay1143 Words Ã |Ã 5 PagesNike, Inc.: Cost of Capital Case 14 A Case Brief Submitted to Submitted by In Partial Fulfillment of the Requirements for Date Submitted September 28, 2011 Summary This case highlights Kimi Ford, a portfolio manager with NorthPoint Group, a mutual-fund management firm. She managed the NorthPoint Large-Cap Fund, and in July of 2001, was looking at the possibility of taking a position in Nike for her fund. Nike stock had declined significantly over the previous year, and it appearedRead MoreNike Inc Cost of Capital Case Study917 Words Ã |Ã 4 PagesNike Inc. Case Number 2 Nike IncorporatedÃ¢â¬â¢s cost of capital is a vital element when addressing opportunities regarding top-line growth and operating performance. Weighted Average Costs of Capital (WACC) is an essential estimation that is needed in order to determine the amount of interest that will be paid for each additional dollar financed. This translates to be the minimum overall required rate of return that the firm will keep. We disagree with Johanna CohenÃ¢â¬â¢s assessment of Nike due to twoRead MoreCase Analysis of Nike, Inc.: Cost of Capital731 Words Ã |Ã 3 PagesApparently, the issue of NikeÃ¢â¬â¢s case is to control and check the calculation cost of capital done by Joanna Cohen who is the assistant of a portfolio manager at NorthPoint Group. But I am willing to tell you that it can be a complex case in which we can doubt about sensitivity analysis done by Kimi Ford (portfolio manager) too. Because her assumptions such as Revenue Growth Rate, COGS / Sales, S A / Sales, Current Assets / Sales, and Current Liability / Sales have been adopted from previous income