Sources of Finance free essay sample

There are various methods of raising money for a business. The kind of account picked relies upon the idea of the business. Enormous associations can utilize a more extensive assortment of account sources than are littler ones. Account isn't simply required when beginning another business, yet you might be required to look for additional fund regardless of whether you’re business is entrenched I-e further development, RD, new item dispatch . Regardless of what business you are in, you will consistently need to guarantee your business is sufficiently financed; there are two significant structures 1. Inner Finance 2. Outside Finance Interior Finance Internal money is the account that is raised from inside the organization. The specialist should either contribute his own capital ‘owner s capital’ or hold benefits they have earned . This is practical wellspring of getting capital and significant piece of each association yet has its own constraints . In this way the business associations need to utilize the other inward wellsprings of fund so as to address their issues . following are instances of inner wellsprings of account I. A tight credit control II. Postpone installments to loan bosses III. Diminishes stock level Outside Finance There are distinctive outer sources from which agents can get account, these can be; Banks, monetary organizations, Capital markets, cash moneylenders, makers, producers, remote budgetary foundations and offices, and so on anyway in extent of raising assets rely on the type of business association. There are three sorts of financing in outside sources I. Momentary II. Medium term III. Long haul Short-term financing: length of reimbursement is short of what one year Medium/Long term: during of reimbursement is over one year Short term Finance: Cash that is expected to back exercises that are generally going to last short of what one year. Bank overdraft An overdraft is a concurrence with a bank to permit the business to go through cash it doesn't have; it is a type of an advance. Exchange Credit This is a timeframe given to a business to pay for merchandise that they have gotten. It is frequently 28 days yet a few organizations probably won't pay for a half year and on certain events even a year after they have gotten merchandise. Held benefit Profits from a business record can be utilized by the proprietors for their very own utilization or can be utilized to return to the business. Charge cards Using your very own or business Visa. These typically have high financing cost. Proprietors capital The cash might be the aftereffect of reserve funds, cash left to them by a relative in a will Medium term Finance: These may fall in either short or long haul wellspring of account. Figuring Selling your credit advances to particular organizations who purchase your credit at lower cost discharging your cash to you. Bank credits Short/Medium/Long term. Debatable. Fixed time of loaning, normally low financing cost. Renting out A rent viably implies that the business is paying for the utilization of an item however don't claim it. It is likewise called recruiting. You may likewise rent out undesirable gear to raise money. Debentures A type of financial exchange credit for Ltd organizations which is made sure about against your business resources. Inability to take care of advance on time will bring about seizure of those benefits by your lender. Long haul account: Used for financing the setting up of new organizations and for extension of existing organizations or new item dispatch. Offer capital If you are a PLC (private/open) at that point you can raise shares by selling responsibility for business on the stock trade. Resource deals These benefits could be as property, hardware, gear, different organizations or even logos of your own business. Funding Venture business people are gatherings of people or organizations explicitly set up to put resources into creating organizations. They may solicit to be part from settling on certain choice of the business! Government, nearby position or EU concedes This could be the neighborhood authority, the national government or the European Union. These awards are frequently connected to motivating forces to firms to set up in zones that are needing monetary turn of events. Workforce rebuilding Moving representatives into new posts or laying off representatives who have been working under 2 years. Question 2 ASSESS THE IMPLICATIONS OF THE DIFFRENT SOURCES Answer Implications of Sources of inward and outside account are as per the following Implications of Sources of Internal Finance Personal investment funds: This is regularly a possibility for independent ventures where the proprietor has a few reserve funds accessible to use as they wish. Held benefit: This is benefit previously made that has been put aside to reinvest in the business. It could be utilized for new apparatus, showcasing and publicizing, vehicles or another IT framework. Working capital: This is momentary cash that is held for everyday costs, for example, writing material, pay rates, lease, bills and receipt installments. Deals of benefits: There might be surplus fixed resources, for example, structures and apparatus that could be offered to produce cash for new regions. Choices to sell things that are as yet utilized ought to be made cautiously as it could influence ability to convey existing items and administrations. Ramifications of External Source of financing Shares: Restricted organizations could hope to sell extra offers, to new or existing investors, in return for an arrival on their venture. Credits: There are debenture advances, with fixed or variable premium, which are typically made sure about against the advantage being put resources into, so the advance organization will have a lawful common enthusiasm for the venture. This implies the organization would not have the option to sell the benefit without the lender’s earlier understanding. Likewise the bank will take need over the proprietors and investors if the business ought to come up short and the cost should be reimbursed regardless of whether a misfortune is made. There are different sorts of credit for fixed sums with fixed reimbursement plans. These might be viewed as somewhat more adaptable than debenture credits. Overdraft: A bank overdraft might be a decent wellspring of momentary money to enable a business to straighten occasional plunges in income, which would not legitimize or require a drawn out arrangement. The bit of leeway here is that intrigue is determined day by day and an overdraft is hence less expensive than a credit. Recruit buy: Hire buy plans empower a firm to obtain a benefit rapidly without following through on the full-cost for it. The organization will have select utilization of the thing for a set timeframe and afterward have the alternative to either return it or get it at a marked down cost. This is frequently used to support acquisition of vehicles, apparatus and printers. Credit from providers: Many solicitations have installment terms of 30 days or more. An organization can set aside the most extreme measure of effort to pay and utilize the cash in the meantime time frame to back different things. This strategy ought to be treated with alert to guarantee that the receipt is as yet paid on schedule or, in all likelihood the firm may chance upsetting the provider and endanger the future working relationship and terms of business. It ought to likewise be recalled that it’s not ‘found’ cash but instead a cautious exercise in careful control of income. Awards: Grants are frequently accessible from boards and other Government bodies for explicit issues. For instance there might be a board need to recover a specific region of a town and who are glad to help finance repair of structures. Then again there might be an association that represents considerable authority in helping youthful business people to dispatch new organizations. Funding: This source is regularly utilized in the beginning times of building up another business. There might be an immense danger of disappointment yet the potential returns may likewise be enormous. This is a high hazard source as the financial speculator will be searching for an offer in the firm’s value and a solid profit for their venture. Anyway the critical experience these speculators have in running organizations could demonstrate important to the organization. Figuring: This includes an organization redistributing its invoicing plans to an outer association. It promptly permits the organization to get cash dependent on the estimation of its exceptional solicitations just as to get installment of future solicitations all the more rapidly. It works by the firm creation a deal, sending the receipt to the client, duplicating the receipt to the figuring organization and the considering organization paying a concurred level of that receipt, typically 80% inside 24 hours. There are expenses required to cover credit the board, organization charges, and intrigue and credit insurance charges. This must be weighed facing the advantage picked up in boosting income, a decrease in the time spent pursuing installments and access to an increasingly advanced credit control framework. The drawback is that clients may like to manage the organization selling the products or administrations. Question 3 Evaluate fitting wellsprings of account for a business venture Answer Sources of money required to begin a business venture are as per the following for instance setting up a drive-thru eatery like ‘McDonalds’ would be as a matter of first importance there would be introductory capital required to lease a spot just as equipment’s for (cooking, warming, freezing and above all else an extra space) and afterward there would be extra capital required for outfitting andâ buying furniture and recruiting of staff and partners just as the conveyance staff and the most significant is the fixings required for making the nourishment For Example, if an individual has beginning Capital for $200,000 for diversifying McDonald’s and The capital required to fire up the McDonald’s establishment is $500,000 there are number of manners by which an indivi dual can fund the rest of the sum for $300,000 which are as per the following

The killer inside me by Jim Thompson Research Paper

The executioner inside me by Jim Thompson - Research Paper Example More than the portrayal of the violations, what is progressively significant is his pessimistic perspective, which gets reflected in the manner in which he needles individuals around him particularly by his words which frequently bore them. He announces his affliction to be maybe of psychosomatic inception. Anyway Lou Ford outwardly drives the ordinary existence of a decent cop who is well similar to by his bosses particularly Sheriff Maples. It is the corruption of Lou’s mind, regardless of whether it is about sexual experiences or unadulterated instances of homicide that offers shape to the plot with a basic thought process of investigating the bifurcated character of Ford. The epic starts with Lou’s experience with the owner of a café and before that a server of a similar spot. Lou Ford goes to the perusers as a fine, cleaned kind hearted individual except if he starts drawling his sentences during his discussion with the owner. Lou doesn't convey a firearm since he doesn't consider law breakers like the manner in which individuals do. In spite of being a cop, he believes that individuals are â€Å"a minimal misinformed. You don’t hurt them, they won’t hurt you. They’ll tune in to reason† (Thompson 4). ... The creator switches the assessments about Ford energetically as the storyteller states, â€Å"I enjoyed the guyâ€as much as I like a great many people, anywayâ€but he was too acceptable to even consider letting go. Respectful, canny: folks like that are my meat.†(Thompson 4) the last expression gives a clue about his depravity of psyche. He intentionally attempts to exhaust him with philosophical talks while he realizes very well that individuals despises a drag and â€Å"If there’s anything more terrible than a drag, it’s a silly bore† (Thompson 5). The second he starts drawling out long sentences he finds that the owner is anxious to stop the discussion. So Lou gets a vicious joy in prodding individuals around him. The tale additionally acquaints us with Bob Maples, the sheriff who trusts Lou a ton and is prepared to back his choices without comprehending what they are. The perusers come to know about his disorder legitimately just because when he meets Joyce Lakeland. One comes to know about the affliction he experienced and experienced just because when he was fourteen years of age. With a more profound idea one can see that this affliction is identified with sexual depravity. It is excited by and by after quite a while when he meets Joyce. His sexual corruption is excited when he goes into a squabbling with Joyce after she discovers him holding her weapon. By uncovering his personality she starts to get rough with him and hits him hard. It draws out the long torpid ailment inside him and he is locked in into a savage rape on her. Indeed, even some time before this happens he attempts to escape as quick as he can on the grounds that he fears that â€Å"She’s talks. She’d shout her head off. What's more, individuals would begin thinking, thinking and pondering about

Dun, Dun, DUUN! The Fall 2016 fellowship application deadline is tomorrow COLUMBIA UNIVERSITY - SIPA Admissions Blog

Dun, Dun, DUUN! The Fall 2016 fellowship application deadline is tomorrow COLUMBIA UNIVERSITY - SIPA Admissions Blog In case you forgot that tomorrow is the Fall 2016 fellowship application deadline; who am I kidding, of course you remembered! Applications with fellowship consideration are  due on Tuesday, Jan. 5, 2016 at 11:59 p.m. EST. Applications with fellowship consideration are  due on Tuesday, Jan. 5, 2016 at 11:59 p.m. EST. Anyway, I am sure you are all hard at work finalizing your applications for admission. For those of you who were early worms and submitted your applications already, CONGRATULATIONS. This nifty little chart will help keep you on track with the general admissions timeline. For everyone else, I wanted to remind you of a few blog posts that may still be useful during your last hours before the deadline. Just review this post, which outlines some of my favorite application tips from the past year. And if for some reason you miss tomorrows deadline, you can still apply for admission by Feb. 5 (without fellowship consideration). P.S. Dont get the headline? Check this out:

Improving Efficiency Of Supply Chain Management - 3487 Words

1.1 Improving efficiency in supply chain management: Tesco PLC is a British multinational basic need and general stock retailer board in Cheshunt, Hertfordshire, England, United Kingdom. It is the third biggest retailer on the planet measured by profits and second-biggest retailer on the planet measured by incomes. It has stores in 12 nations crosswise over Asia and Europe and is the basic supply advertise pioneer in the UK (where it has a piece of the overall industry of throughout 28.4%), Ireland, Hungary, Malaysia, and Thailand. Tesco was established in 1919 by Jack Cohen as a gathering of business stalls. The Tesco name initially showed up in 1924, after Cohen bought a shipment of tea from T. E. merchandise well and joined those initials with the initial two letters of his surname, and the first Tesco supply opened in 1929 in Burnt Oak, Barnet. His business extended quickly, and by 1939 he had more than 100 Tesco stores over the country. Initially a UK-centered basic supply retailer, since the mid 1990s Tesco has progressively expanded geologically and into zones, for example, the retailing of books, apparel, gadgets, furniture, toys, petrol and programming; money related administrations; telecoms and web administrations. The 1990s saw Tesco reposition itself, from its recognition as a down market heap em high, offer em shabby retailer, to one which requests over a wide social gathering, from its Tesco Value (dispatched 1990) to its Tesco Finest extents. ThisShow MoreRelatedValue Chain1020 Words   |  5 PagesExecutive Summary Value chain management has become more and more important in industry in past decades. This report provides an insight view of value chain in automotive industry and then examine leadership role of engineer in value chain management. Furthermore, the report will analyse why engineer is so important in management of value chain. 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What We Have Learned From Our Readings Provided By The...

The following questions will be answered based on what we have learned from our readings provided by the Population Reference Bureau. 1) In your own words (cite where the ideas are from), explain the trends in the world population over the last two centuries and tell us how and why life expectancy, family planning and poverty issues are related to the population trends we have seen. It took many thousands of years for the world to reach 1 billion people but in the last 200 years that number has become 7 times bigger and continues to increase. The population growth has slow down lately but not the concern about over population which sounds kind of a contradiction but the reality is that development countries have help in the transition to improve life and offset human mortality. As a result we are going to mention some of the most important changes of those improvements. a. Life expectancy Thanks to industrialization and modernization in developed countries, public health initiatives and the development of new medicines has become a reality reason enough to increase life expectancy. More children survived nowadays and death rate has become lower, unfortunately global inequality has cause underdeveloped countries to still be far from reaching the same reality. (Ideas - WORLD POPULATION GROWING AT RECORD SPEED) b. Family planning In despite of certain norms, traditions and cultural factors, family size and gender roles are factors considered in present days when itShow MoreRelated Health Concerns for Children in Maricopa, Arizona1224 Words   |  5 PagesConcerns for Children in Maricopa Arizona We all grew up in communities with grandmothers who cooked two, three vegetables that you had to eat. There was no ifs, ands or buts about it. But thats because many of our grandparents, they had community gardens; there was the vegetable man that came around. 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Developments and Training Free Essays

In the world we are living in organizations are faced with risks and threats due to introduction of technology and thus for organizations to succeed in their operations they need to train their employees so that they can overcome these risks and threats. Training involves using an experienced person to inform, teach and to convey information to the audience so that they can acquire the necessary skills and knowledge that would enable them to perform their effectively in their organizations. If people in the organizations are trained they become satisfied with the work that they are doing and this improves their morale. We will write a custom essay sample on Developments and Training or any similar topic only for you Order Now With the effective training employees can not leave their organizations because training it enables them to have the relevant skills and knowledge needed to perform their activities effectively. The image of the company can improved when the training is conducted because the employees in the organization become motivated and they enable them to talk about the positive side of the company. When an organization conducts training it enables it to develop strategies that can help the organization to achieve its objectives since training enables one to acquire new ideas of running and managing the operations of a company. It also helps a company to manage its finance effectively since training ensures that the management determine the issues that are cost effective thus it reduces the expenses of the company. In case of a public company which is a business organization, it is owned by the shareholders who contribute money known as capital. This capital is used to finance the operations of the business and incase the organizations may lack some funds to run their businesses they can borrow funds from the commercial banks and International bodies such as International Monetary Funds and the World Bank. The company is usually run by people known as the directors they ensure that the operations of the company are run effectively, incase the companies receive profits at the end of their financial periods they can distribute the profits in form of dividends to the shareholders and in other cases their can retain some of their money in reserves so that they can be able to do other business affairs such as expanding the company to meet the needs of the customers of the company. http://www.businessballs. com/training program evaluation.html In companies there are many people who are employed, some of whom may be recruited directly from college and thus may lack the necessary experience to run the affairs of the company, others may have the experience to run the company but may lack relevant experience to run the affairs of the company thus there is a need to train all its employees so that they can gain the relevant experience that is required to run the company’s affairs effectively. The company can develop in house training program this program is usually designed to suit the needs of the company’s its allows the employees to train and develop their skills without moving from their working environment thus it saves on time and money since the employees don’t need to travel from one place to the place in order for them to acquire the knowledge and skills of running the company successfully. This training program is designed to train employees of a manufacturing company that produces horticultural products . The Company has more than one hundred employees who are trained on how to handle the product carefully because they are manufactured for export purposes and thus safety precautions must be taken because the products are manufactured using poisonous chemicals since act as preservatives and enable the product to last for a longer period of time without getting spoilt. The Coastal Recursor Humanos is a communications computer company that sells the leading safety training videos ,cd-roms,interactive safety training programs ,safety handbooks,trairning toolkits and safety posters thus the horticultural company can access this facilities so that it can effectively train its customers on how to handle this products. The company can identify its training needs by obtaining information from the employees of the company about problems that they experience in the company such as poor working environment that can affect the performance of the employees for example if there is inadequate working area for the employees to work on or if the employees may be under paid or over worked this can affect their performance thus the in-house training program can enable the management to address the problems of the employees of the company and they can thus take the necessary measures to rectify the problems of the company . A training need of the can be identified through looking at the position of the economy, if the economy of the country is performing well then the management need to train their employees frequently so that they can be able to cater for the demands of the customers . When the economy is performing properly the circulation of money is usually high and this leads to high demand for goods and services thus the need for the management train to it employees on how to handle the employees , but if the economy of the company is not performing properly the training program activities of the company can be reduced due to lack of the necessary resources to develop the program since for the program to run effectively it needs money to purchase the training videos ,training tool kits and the training safety posters from the Coastal Recursors Humanos communications company and money to hire the trainers is required to cater for their wages and salaries http://www. businessballls. com/freeonlineresources. htm . The management of the company can develop its program by establishing the training mediums that can ensure that it achieves its objectives this include internal mediums the company can access the information about improving the operations of the business by consulting the employees themselves, they can give the management the reasons why they are not performing and thus identify the problems in the organization thus a good program can be developed and structured to meet the needs of the employees in their workplaces . The management can acquire information from other parties who are not employees of the company to gather information about the policies that need to be implemented so that the company can run it activities effectively thus this can sharpen the companies effectiveness and can help improve its performance. The training materials that can be used by the management of the company are templates, samples, resources such as articles, tools and diagrams they can provide information to help the company employees understand its operations they contain detailed information about the structure roles and responsibilities of the employees this act as a guide of how the company has been designed and thus it makes it ease for them understand the activities of the company. http://wwbusinessballs. com/workshops. htm The training materials can be created by the experts of the programs they can do this by determining the needs of the company that need to be addressed . They need to outline the skills that they intend to teach . The skills need to be divided into groups and then into steps so that the necessary time can be allocated to the tasks that need to be urgently addressed. Once the steps have been prepared and all the necessary information that needs to be tackled by the experts of the programs they should design the presentation perfectly so that all the relevant information that needs to be conveyed to the employees is done effectively. http://wwbusinessballs. com/workshops. htm The management of the company can deliver its training through workshops that entail team building, communications, motivation, and planning these can empower the employees of the company to work more effectively since it enables them to acquire the necessary information that is needed to run the affairs of the company effectively. Training can be delivered through conducting in-house training, by creating a tailored course and by recognizing informal training this helps the company to reduce its expenses, helps the management to deliver its information to the employees effectively and reduces wastage of time and money since the information that needs to be conveyed is always within the reach of the employees of the company. The effectiveness of a in house training program can be evaluated by the top management who ensure that training program is carried out effectively. They also ensure that training plans are properly documented so that they can give the management the direction of conducting their business. There are evaluation materials that a company can use so that it can determine how it performs its activities these are end –of- program validation method, feedback process and follow-up instruments they determine what the employees have learnt in their in house training programs ,they give the employees time to reflect on the all that they have learnt and also enables them to apply all that they have learnt during the training section . The evaluation questionnaires can be used to evaluate whether the objectives of the company have been applied. The employees of the company need to prepare action plans so that they evaluate whether they have understood all that they have been taught in the in- house training program, incase they have not applied the necessary techniques of carrying out their activities then they can take the necessary measures to implement them. The in-house training program for the company can be sustained through establishing long-term goals and then implementing the goals of the company so that there can be consistency in carrying out the activities of the company. The management should be involved in the development of the program since they can ensure that all the necessary information that needs to addressed is followed and finally implemented The goals of the company can be sustained if the companies results show some improvement, if the results of the company don’t improve then the management can either rectify the program or they can develop another programs that can suit the needs of the company. An in-house training program can be enforced by the managements company through ensuring that all employees who don’t comply with the rules and regulations of the company are dealt with accordingly such as they may be punished so that they can comply with the rules and the regulations of the company. The in house training programs can bring high performance to the company because if the management of the company addresses the problems that have been identified by the management and the employees of the organization then the company can operate successfully. If in the in- house training program the trainer is able to identify the unique potentials of the employees and then be able to illustrate how the employees would be assigned with tasks they are familiar so that they can perform effectively then this can be a good sign that the in-house program is effective. How to cite Developments and Training, Papers

Nickel and Dimed free essay sample

After reading Nickel and Dimed and reviewing the NASW Code of Ethics I found a few parts of the code of ethics Ehrenreich did not follow. I believe she was in breach of privacy and confidentiality, dishonesty, fraud, and deception, and integrity. Privacy and confidentiality is a very important aspect of social work. Although Ehrenreich changed the names of her coworkers and places she worked at, she still disclosed private information about them they may not have wanted the entire world to know. Everyone has a right to privacy which Ehrenreich did not grant her coworkers who disclosed information to her with that right. Dishonesty, fraud, and deception is another part of the code of ethics and I believe she violated all of these. Ehrenreich pretended to be in need of a low-wage job. There are millions of people who actually needed that job and lost the opportunity when she took it, only to leave a few short weeks later. There are numerous arguments that have been presented that both support and refute Ehrenreich’s claims, mainly examining the validity of her examples, support information, and her execution of the experiment. Discussion of these different points of view and analysis will provoke further healthy debate on the state of the working poor and the possible solutions that we need to explore as an educated society. In the introduction of the book Ehrenreich details the formation of this experiment in great detail, from the lunch discussion with a colleague that led to the original formation of the idea, all the way to the specific conditions for the experiment. While she wanted to experience life as a member of the working poor, she did not want to put herself in any real danger or hardship. In fact, in the beginning, she had serious discussions with her family that the whole thing could be done from her study, by just â€Å"simulating† all of the conditions, without actually heading out to do it for real. She also emphasizes that she is not trying to portray herself as the average example, but as the best case scenario, complete with her own monetary safety net. At the outset of experiment she seemed to show a good amount of optimism that, if she applied herself and worked hard, that she would have no problem succeeding at her goal of making it on low wage jobs, because of her education and her excellent work ethics. Unfortunately, as she purposefully hid her qualifications to every probable employer and throughout every interview process, her optimism was quickly eroded as she faced the realities of finding low wage work and the high costs of housing and health care. There are many opinions on the subject of the working poor in America. This is due to the multitude of factors that affect any socio-economic group or situation. Also, there are a multitude of different solutions that are proposed from various experts, some that support Ehrenreich’s view and some that do not. Larry Schweikhart refutes Ehrenreich directly in his analysis of her book by pointing out several large flaws in the execution of the experiment and the basic assumptions of low wage workers. First, she approached the low wage job as if it was the last stop on the economic chain for everyone that had them, and that there seemed to never be any example of advancement up the economic ladder. (Schweikart) He supports his argument by pointing out that all of her examples seemed to be of the same mold, with similar living situations and marital status, not looking or striving to advance up the chain or move on to a job where this was possible. Schweikart) He also claims that most low paying jobs are meant to be merely a means to an end, in that people use them to learn basic job skills, not as a long term career. (Schweikart) Weighing both of these arguments, one could conclude two things, that Ehrenreich’s experiment was well intentioned and does contain some good examples and support for her claims, however, she missed some important portions of information that would have made her experiment much more complete. An example of this would have been to include a married couple in the experiment. This could have shown the socio-economic and personal dynamics that moving up the economic ladder in America generally takes a team of two, and this greatly increases the chances of accumulating wealth. The high cost of housing and transportation were evident in Ehrenreich’s first foray into the life of the working poor, was located closest to where she actually lived in Key West, Florida. She starts work as a waitress at a small place, which she calls â€Å"Hearthside†. It is a low rent, dirty, run-down family-style restaurant that really gives her exactly what she is needs for her research. She conducts a quick survey that provides the basic living arrangements and demographic data of the people that she works with, which broadens out her experiment to include not just her experiences, but, the others as well. (Ehrenreich 25-26) The people that work at the Hearthside are colorful and definitely fall into the category of working poor. Their situations support her claim of the â€Å"hidden cost economy. † These are parts of the economy that are not evident or even considered by many people who have not experienced living in this section of society. These costs and relationships factor in degrading the living situations of people that have low paying jobs experience on a regular basis like poor personal relationships, living in cars, exorbitant security deposits, high health care costs, and food and transportation costs. Since most of the working poor do not receive health insurance, the availability and cost of even the most basic health and dental care is out of reach. An example of the health care problem became evident in 2009 when the Remote Area Medical Volunteer Corps opened a free clinic at the Los Angeles Forum, and provided free medical and dental care to over 10,000 patients, demonstrating the incredible need that exists for the poor. Some of the patients had gone years without getting some serious conditions treated, living in constant pain or just covering the symptoms. Adams) With so much evidence of the high cost of health care, focusing on common sense solutions and community involvement seem to be the best course of action for most people looking to improve the lives of the people around them. In the section, â€Å"Scrubbing in Maine† we find her working for the Maids, a cleaning service, and she is in a customer’s house. She is escorted into the master bathroom and shown by the owner how the marble is â€Å"bleeding† onto the brass fixtures. The owner, a part-time personal trainer, asks her to scrub the grouting â€Å"extra hard†. She makes the observation that the more affluent in society tend to not be aware of all the work required by poor people, working for wages that are well below the â€Å"minimum†, to bring the luxury items they have all around them on a daily basis, and that the do not appreciate any of these people that are in large part responsible for making the luxury items affordable. She advocates for a â€Å"living wage† which will allow for all the low wage workers to afford the necessities of life. This idea of requiring a minimum salary to corporations for the entry level workers is contrary to the capitalistic economic tenet o produce a product as cheap as possible, which ultimately leads to paying the entry level worker the lowest possible salary that the free market requires. This is one aspect of our society that is also hotly debated. Living wage solutions are not usually supported by libertarians and republicans who believe less government intrusion and regulation results in better economic outcomes for everyone. Some believe that increasing the entry level wages too far will result in high unemployment in the unskilled labor force, mostly high school-aged children. In addition, if the living wage costs more than the job is worth, the market would drive those jobs away to places where it is cheaper to perform. (Barnes) Many studies and experts are still debating and researching this issue, but the solution is not cut and dried. In any just society, how we take care of the poorest people in that society is a reflection on our overall moral character, so there should be improvements to low wage worker wages and working conditions. The continuing debate will be where these improvements come from, the employer or the government. Throughout her experiment, Ehrenreich stayed true to her original edict, however, over time her attitudes and perceptions were changed by her own experiences. Her claim that low wage workers are not successfully earning enough money to have their basic needs met is not in question, its seems that the majority of research and opinions hold her book in high esteem. Overall, Ehrenreich had a unique idea and reached a wide audience bringing attention to a serious problem. This is the best aspect of her book.Hopefully, through her text, Ehrenreich brought about at least some positive change in the lives of working poor by exposing their plight.

Barneys Marketing Plan Essay Example Essay Example

Barneys Marketing Plan Essay Example Paper Barneys Marketing Plan Essay Introduction Executive summary Barneys is planning to extend the target market by embracing budget fashionistas as well as current target customers who are fashion connoisseurs with a high disposable income and cutting-edge taste. It is because, according to Spending Pulse, Sales of luxury goods fell 27. 6% in December 2009 compared with December 2008 including credit cards and cash. The pullback in luxury spending due to the deteriorating economy brought about a sharp slowdown and a torrent of extraordinary markdowns last year. The competitors including Bergdorf Goodman, Saks Fifth Avenue, and Neiman Marcus have been saddled with excess inventories and double-digit sales decrease. In order to do extend target market, Barneys will increase the amount of contemporary, accessory and Co-op merchandise up to 60% of whole inventory in two years, which can draw fashion-oriented customers with limited budget. The primary marketing objective is to accomplish sales increase by 3% compared with sales of $7 80 million for 2008 keeping profit margins of 50% or more, and a 8% increase in sales compared with sales of 2009, maintaining profit margins of 60% or more in the second year. The economic downturn has been bankrupting some firms, toppling longstanding agreements on pricing and distribution. Also, deep markdowns have been destroying the exclusivity that designers are trying to do. Barneys Marketing Plan Essay Body Paragraphs Customers are continuing to turn to the internet for clothing shopping because the online stores offers fashion trends and styling tips as well, and shoppers can quickly search the items by various categories, which makes shopping experience more efficient and not physically demanding. The leading online retailers of designer brands including Net-A-Porter. com and Bluefly. com have performed well showing revenue increase except for the fourth quarter 2008.?Macroenvironment: The shrinking economy, stock market declines, investment erosion, housing crisis, higher food and gas prices have curbed consumers’ craving for hopping. In the recession, the number of fashion-conscious shoppers with money and credit has decreased. —Trends: Marketing massages are getting real, simpler, and straight forward in order to draw skeptical consumers in the recession. Brands fostering more open communication with their customers via two-way medium of the Internet have become more important i n customers’ everyday lives. In an harsh retail climate, accessories are faring better than apparel because they are relatively inexpensive wardrobe updates. The items that can be worked into what customers already have in their wardrobes are selling. -1. Performance review?Distribution: Barneys has 9 Flagships(New York City, Beverly Hills, San Francisco, Chicago, Boston, Chestnut Hill, Las Vegas, Dallas, and Seattle), 18 Co-op stores and 13 outlets in the U. S. The Madison Avenue and Beverly Hills units are healthy and profitable having deep customer base and more known in their markets, but the Las Vegas, San Francisco, Dallas and Boston units have been slow since they opened. Barneys is going for aggressive expansion; four flagships were built in past three years, and it is also looking for store locations in Europe, the Middle East and the Far East. Product and Service: Barneys is high-end department store offering an upscale and original assortment of apparel, accessorie s, jewelry, beauty and decorative home products, and also assorts two private labels, Barneys New York and Co-op. Additional services include a bridal and gift registry, concierge service, studio service and spa, but most of them are only provided at Madison Avenue and Beverly Hills flagship store except personal shopping service. In 2008 September, a men’s Made-to-Measure Clothing service was launched at the Madison Avenue flagship store.?Promotion: The previous key promotions were to introduce the Kate Moss line for Topshop and the Rogan line for Target GO international, which was intended to increase customer traffic. Seasonal warehouse sale is done to reduce inventory. The renowned original window displays in unique themes are helpful to draw customers’ attention and create a buzz. The recent promotion was offering merchandise at a 75% discount last year. S. W. O. T. analysis?Strengths: Hip image of providing unique mix of established designers and new costumers Pr ivate labels allowing full control and high markups Co-op offering chances to draw budget fashionistas with its young, experimental, downtown feel merchandise Good store locations appealing to both tourists and locals?Weaknesses: Aggressive expansion strategy derived from the new owner’s desire to recoup the investment: this has greatly increased expenses for opening stores. Lack of leadership: The former president and chief executive, Howard Socol, resigned in 2008 July and hasn’t yet to be replaced. Taste level which is not widely accepted: with its cutting-edge image, Barneys has a narrower appeal and customer base than other luxury department stores. Opportunities: Growing trends towards contemporary apparel and accessories: customers started to look for practical and wearable items in everyday life rather than expensive statement outfits. Continuing strong growth in online sales: according to the report from the Census Bureau of the US Department of Commerce, onli ne purchases amount has increased by more than 9% to $34. 61 billion in the second quarter of 2009 compared with the amount during the same period of 2008, and online sales of apparel has generated $26. 6 billion.?Threats: Sharp declines in luxury spending due to the weak economy Luxury brands’ losing the image of exclusivity: In a January survey of rich shoppers by the Luxury Institute, roughly half of high-net-worth consumers said luxury brands are becoming commoditized. 64% said they were overpriced. Dangerous extreme discounting of luxury goods: this erodes fat profit margins of 50% of more, and makes customers unwilling to pay full price. Moody’s downgrading Barneys’ debt to â€Å"very high credit risk† rating because of negative operating performance Temporarily disapproved shipments for the 09’ spring orders by some factors including Hilldun Corp. and Rosenthal Rosenthal Inc. as a result of uncertainties over the liquidity and future strate gy Dubai economy facing serious pressure; Istithmar, and investment firm controlled by the government of Dubai, purchased Barneys from Jones Apparel Group Inc. for $942. 3 million in 2007 September. Objectives?First-year objectives: During 2010, Barneys is aiming for sales increase by 3% compared with sales of $780 million for 2009 keeping profit margins of 50% or more.?Second-year objectives: The objectives of Barneys during 2011 is to achieve 8% increase in sales compared with sales of 2010 maintaining profit margins of 60% or more. Marketing strategy?Barneys’ marketing strategy is based on broadening target market by making some changes in merchandise assortment. The primary target customer is upscale discerning fashionistas. This segment, however, is demographically small, and thus in order to enlarge the size of target market, Barneys needs to draw additional secondary target customers who are budget fashionistas Action plans?The target market to be pursued: In addition to the current target customer who has over $175,000 annual household income and fashion-forward taste, the secondary target customer is budget fashionistas who seeks out new and directional labels, but are slightly price-sensitive.?The specific actions in terms of 4Ps: Product and Service – Barneys will increase the portion of contemporary, accessories and Co-op up to 60% of the whole inventory. Also Barneys will show more looks styling with high-low mixed brands via mannequins in the stores, direct mailing catalogs and look-books online in order to offer tyling tips and provoke more cross-selling. Price – Barneys will lower the average price point by raising the amount of accessible price items, and will restrict markdown over 30% which can devalue the brand except for the outlets. Promotion – Barneys will focus on providing customers with non financial incentives such as trunk shows, opportunities to attend art or culture related events, gift certificates for the restaurant or spa in the flagships, and exclusive promotions collaborating with vendors. Place – Barneys will put a hold on the expansion strategy, and instead, will improve the online store more customer-friendly so it can offer effective and enjoyable shopping experience, and attract more online shoppers.?Responsibilities for marketing actions: The actions related to the Product – Merchandising, Design and Sourcing for Co-op, Allocation teams The actions related to the Price – Planning and Merchandising teams The actions related to the Promotion – Planning and Marketing teams The actions related to the Place – Planning and Technology teams?Timing for marketing actions: 11’ April – Barneys will research up-and-coming designers internationally, and start negotiating for winter orders with selected designers who can meet the standards in terms of design, price and delivery time. At the same time, Barneys will start redesigning the online store, and market research for Co-op 12’ spring lines. 1’ August – The online store renovation will be finished, and the merchandise from new designers will be introduced in flagships and on the web site. The integrated promotions via the stores and web site will be performed in order to draw customer’s attention. The Co-op 12’ spring lines with extended SKUs will start being produced.?Timing for marketing actions(continued): 11’ November – If the influx of new contemporary and accessory brands gets positive customer responses and increases sales volume, Barneys will prepare for introducing more of those lines. 2’ February – The Co-op spring line and new rising designers will be shown in the stores and online. The special party for Co-op customers with the dress code â€Å"Anything from Co-op† will be held at the Madison Avenue and Beverly Hills flagships. 12’ October – The overall performanc e will be thoroughly analyzed and the results will be compared with the objectives. Based on the sales volume and profit, the decision to maintain the new portion of merchandise assortment will be made. We will write a custom essay sample on Barneys Marketing Plan Essay Example specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Barneys Marketing Plan Essay Example specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Barneys Marketing Plan Essay Example specifically for you FOR ONLY $16.38 $13.9/page Hire Writer

Core Beliefs of the Puritans Essays

Core Beliefs of the Puritans Essays Core Beliefs of the Puritans Essay Core Beliefs of the Puritans Essay Core Beliefs of the Puritans Have you of all time rebelled against the house regulations dictated by your parents? In the 1600’s. a group of spiritual citizens discontent with the Anglican Church of England. did precisely that- rebelled. The Puritans contended that King James had created a faith of political battles and philosophies. Puritans. such as John Calvin and John Winthrop. wrote about the construct of get awaying persecution from the Anglican Church and reforming faith. ethical motives. and society. The Puritans fled to get down anew and created settlements in North America. including Plymouth and Massachusetts Bay. The drive forces of reform were legion pieces of literature. The Puritan beliefs consisted chiefly of five rules: Entire Depravity. the Devil and wickednesss. Predestination. God’s true jurisprudence. and moral development. ensuing in a authorities and religious-based manner of life that has impacted present twenty-four hours America. Inevitably. faith being intertwined with society raises frights. Refering to the Puritans. fright led to the ultimate dissipation of the settlements. On of the chief frights that the Puritan’s believed in was that the Satan was behind every evil title in the universe. The Puritans besides believed that the Satan and Satan surrounded Native Americans and nature. Steering off from the Acts of the Apostless of the Satan led to utmost steps. Bibles. read as discourses by Puritan curates. warned citizens about the dangers of life. The discourses were repeatedly given and fright was strategically woven in. The changeless warnings were due to the belief that every individual is born iniquitous. besides known as Entire Depravity. The impression of Entire Depravity led to the belief of making yourself benevolent. Spurred by the desire to rectify Entire Deprivation. the Puritans created their core beliefs of faith. The Puritans believed in the survey of God’s True Law. the Bible. Harmonizing to the Puritans. the Bible and God paved a program for life. In this God-centered system. church was the topographic point where all jobs and issues were raised and resolved. While citizens with belongings could talk at the meetings. limitation for merely church governments to vote was allowed. Entire Depravity produced the political orientation of Predestination. Predestination was the impression that God saves those that he wants. Puritans believed that God had control over who would be in heaven or snake pit and the Puritans had no control of cognizing. Therefore. Puritans thought that holy behaviour led to redemption. The English Literatures of America reiterated. Sanctification is grounds of redemption. but does non do it ( 434 ) . intending that belief in Jesus does non procure you from Gods predestination for you. The Puritans began doing regulations to follow to travel to heaven. In order to guarantee redemption. the Puritans believed that every citizen needed to follow rigorous regulations that were sacredly motivated. Moral development was a Puritan belief that started in childhood. To drive the Satan. kids were to be taught of the dangers of the universe. and instruction was critical to sublimate society. Drama. titillating poesy. and spiritual music were banned in Puritan civilization. Drama and titillating poesy generated mortality and music distracted Puritans from listening to the words of God. Other moral ordinances included the demand of traveling to church. reading the bible. and adhering to the compact of integrity and order that create a religious community. The rigorous followers of God in society and authorities finally led to the ultimate ruin of the Puritans. Although there were about 100. 000 Puritans in 1700. Puritan attempts to make an sole faith caused the growing of other settlements created by rivals that banned from Puritanism. These new groups teamed the Puritans beliefs of Entire Depravity. the Satan and wickednesss. God’s True Laws. and moral development crazy and it changed America’s though about the relationship between faith and authorities. The First Amendment provinces. Federal authorities can non set up an official faith or interfere with a individuals right to pattern a religion . Otherwise known as separation of faith and authorities. However. Puritans did impact the present twenty-four hours beneficially by keeping a stable economic system. instruction. and moral features. The desire to be considered good . believed by the Puritans. shaped the value of many citizens in the U. S. today.

Research, Evidence and Nursing Practice Assignment

Research, Evidence and Nursing Practice - Assignment Example Conditions used to make comparisons included untapped, therapeutic taping protocol and neutral taping protocol. (3) Authors utilized within-subjects study design, which entailed subjecting 18 participants to the three conditions at random coupled with assessing pain and observed disability. (4) Research’s scope encompassed assessing the extent of pain in each case and disability whereby the latter comprised of hindrance to the necessary knee mobility. Knee’s mobility tests used were walking speed, stepping ability, rising time and go tests. (5) Research’s content avails adequate information helpful in managing Maude’s predicament, which in this case entails reducing pain. Therefore, therapeutic taping will be of great help to her not only through reducing pain but also in preventing knee’s swelling. (6) Limitations in this study embrace â€Å"carryover effects†, use of small cohort and inadequate interval period between the tests. (7) The stu dy concluded therapeutic taping was inexpensive strategy compared to numerous approaches used in managing of knee OA. Justification (8) The study offers adequate information regarding managing of knee pain and disability (Hinman, Bennell, Crossley & McConnell, 2003). ... es its remedies with other approaches used in treating and managing knee OA whereby the researchers conclude both Therapeutic knee tape and neutral tape are cheaper. The other reason considered in selecting this article was its inexpensive remedy strategy aimed at reducing pain, whereby the people irrespective of their status can adequately afford. Therefore, its contribution in the medical field will encompass equipping medical personnel with adequate knowledge concerning varied and cheaper ways, which they will advise their patients to embrace. This is especially in managing Knee OA among the victims whereby with necessary training ailing people can adequately execute therapeutic taping in their homes. This will reduce high chances of disability commonly associated with Knee OA especially among the old people who in most cases tend to prefer sedentary life like in Maude’s case. Therefore, practitioners after advocating therapeutic taping to the people with Knee OA will compe l them to be active through their relatives, hence reduce numerous chances of disability observed among people taking medicinal approaches. This is an essential intervention, which practitioners can combine with medicinal approaches in reducing pain experienced by Maude. In addition, despite the authors in this article citing certain limitations that may hinder effective testing under each condition, its analysis is meticulous. This is evident in the already analyzed tests and clear presentation of statistical data in form of tables and graphs bearing evidences of diverse remedies’ outcomes under study. (1) Roddy, E., Zhang, W. & Doharty, M. (2005). Aerobic walking or strengthening exercise for osteoarthritis of the knee? A systematic Review. Annals of the Rheumatic Diseases, 64. 544- 548.

Analysing Online Consumer Shopping Motivations For Luxury Products Research Paper

Analysing Online Consumer Shopping Motivations For Luxury Products - Research Paper Example Each day more and more people take the leap to purchase online. Several organizations desire to capitalize on the growing momentum of the online revolution. According to Javadi & et. al., as compared to physical outlets, online stores possesses a number of unmatched benefits. They are much expedient than physical outlets and allow customers to save time on traveling or waiting lines. Online stores remain accessible at any time and provide customers with rich information regarding different products and services offerings. In present days, online customers possess a greater extent of control along with bargaining power in comparison with physical stores because online medium renders more interactivity between customers and product or service providers. Online shopping has shifted the balance of bargaining power in favor of the customers because it has become quite convenient for them to make comparisons and assess different alternatives without being pressurized by the sales persons. Online shopping facilitates to minimize the transaction expenses along with providing benefits for both customers and suppliers. Consumer behavior is regarded as the dynamic collaboration of thought of persons and its effect. It is determined as the procedures and the activities people involve with while searching, purchasing and evaluating products. As stated by Perez-Schafer, there are three key domains which can define purchasing behavior of consumers. Fig 1 depicts the three vital domains of consumer behavior. ur. Fig 1: Three Domains of Consumer Behaviour Source: (Perez-Schafer & et. al., 2007, p. 2) Consumer Affect and Cognition: Consumer affect denotes consumers’ feelings and emotions. Emotions are collaboration between thought and physiology. These emotions generate different feelings amid consumers such as fondness, disliking, satisfaction, pleasure and sadness among others. On the other hand, cognition commonly refers to the rationale of people. It is a mental process of understanding, assessing, planning, determining and thinking. These feelings, emotions and cognitions are related with each other and determine consumer behaviour by a considerable extent (Perez-Schafer & et. al., 2007). Consumer Behaviour: Consumer behaviour denotes physical activities of consumers which can be directly perceived and measured. Usually, different perceptions of people generate explicit behaviour amid consumers. The traditional model of purchasing procedure was usually followed by single explic it behaviour. However, in present days, the purchasing procedure involves multiple behaviours comprising interaction between thought and perception (Sukato & Elsey, 2007). Consumer Environment: Consumer environment signifies external constituents that affect purchasing behaviour. These constituents comprise physical objects such as products and outlets, longitudinal relationships such as store location and social comportments such as

Literature Review of Data, Information, Knowledge and Wisdom

Literature Review of Data, Information, Knowledge and Wisdom 2.5 Why Knowledge management is so important? Knowledge as a resource causes huge misunderstanding for economists, because unlike the physical commodities, it is the only resource which increased returns as it is used rather than reduced or diminished over time (Clarke, T. 2001). Knowledge may be costly to generate but there is modest cost to diffusion. Massa, S. Testa, S. (2008) believed that the determinants of success of organizations, and nationwide economies as a total, is ever more dependent upon their efficiency in assembling and utilizing knowledge. Accordingly to Malhotra, Y. (2000) knowledge has turn into a key production factor; though the monetary accounts are still leading by conventional factors of production, including buildings and machinery. The idea of knowledge flowing to where it is most needed is the critical point and it should not flow only from the top down, but flow in all ways in an organization, (Davenport, T. Prusak, L. 2000). Davidson, C. Voss, P. (2004), Lin, L. Kwok, L. (2006) claimed that know ledge is no longer a source of power; it is knowledge sharing that counts in the knowledge economy but author like Kakabadse, N. et al., (2003), viewed knowledge itself is power. Creation and codification of knowledge do not necessarily lead to performance improvement or value creation. Value is generated only when knowledge is allocated all the way through in an organization and linked where it is needed (Chena, C Huang, J. 2007). It is not sufficient to have smart people in the organization. Instead, the key is to create systems that tap into the knowledge, experiences, and creativity of your staff, your customers, your suppliers, and even your competitors. Knowledge strategy needs to be concerned with the quality of information, not the quantity; and with the timeliness of information delivery, not its speed. Smart systems are excellent but smart people are superior. Despres, C. Chauvel, D. (1999) identified that knowledge management occurs on three ends: the individual, the team and the organizational. 2.6 Framework for knowledge approaches Knowledge management is linked to diverse business fields and it has always been entrenched in the individual behavior. It is not all about creating an index or register that detains the whole thing that anyone ever knew. Collison, C. Parcell, G. (2004) suggested that it is about maintaining track of those who know the procedure, techniques and fostering the culture and technology that will get them talking. It is challenging to understand the nature of knowledge and the way it is managed. Also the management approaches towards knowledge management is varied. Knowledge can be created from re-describing and re-labeling the past knowledge, it also created from connecting people (the relationships) and connecting technologies (networks). This might be flexible social or stiff technical networks. These discussions vibrate with the managerial paradox of developing organizational performance via rigid or free control systems and this was interpreted in the following model adopted from Arm istead, C. Meakins, M. (2002) for describing four approaches to knowledge management stand on whether it is in an organizational or an individual context, and whether knowledge management is imposed or empowered by managerial approaches. Armistead, C. Meakins, M. (2002) Figure No: 2.3 Framework for knowledge approaches Imposition is linked with bureaucracy, structured and controlled systems and attempts to codify all aspects of knowledge. It might expect such perceptions to be more inclined to explicit rather than tacit knowledge. In contrast, Empowerment recognized the potential in the social and individual for knowledge creation and sharing, in which the tacit as much as the explicit aspect of knowledge is engaged. The authors considered that managers are likely to be concerned with knowledge at an individual and organization level and with particular approaches to managing knowledge. Consequently they proposed a managerial framework which uses the constructs of imposed and empowered as one axis and the individual and the organization as the other. Prescribed recommends a official approach to knowledge and its management at an  organizational level. It might see technology set up widely to detain, store up and  guard knowledge. Compliance means individual engage in knowledge activities through contract and  regulation. Resources are distributed via prescribed performance management  processes. Adaptive engages with the informal within the social fabric of the organization in  the logic of communities of practice and the self-management of teams. Self-determination supports individuals to get responsibility for their part to  learning in the knowledge creation and sharing processes. From the above management paradox of how the knowledge is manage at an organizational and individual context. There is another well known model, called SECI or knowledge spiral model. The model did not only described that how the knowledge is managed but it also explained the overall knowledge creation process. 2.7 SECI Model In 1995, (Nonaka, I. Takeuchi, H. 1995) introduced their SECI model, which stands for Socialization, Externalization, Combination and Internalization. The purpose of this model is to offer an understanding of how organizations create knowledge and formalize organization processes which are mostly tacit in nature. It further provides an understanding of knowledge sharing, its management and application at an organizational level. According to Nonaka, I. Takeuchi, H. (1995) knowledge is formed from the interaction between tacit and explicit knowledge. These four knowledge conversion processes interconnected by moving from tacit to explicit knowledge as it moves from socialization to internalization then return to socialization to shape a spiral model of knowledge creation. Hiscock, J. (2004) stated that the first generation earlier to 1995, completely dependent on technologies in their daily task often known technocratic, but this is the second generation of knowledge management, whe re knowledge exchange is illustrated as a spiral a thing to be managed and something which can be made explicit. As the purpose of this research it is to look at the barriers to knowledge management thus the only focal point from this model is to observe overall knowledge creation process. Nonaka, I. Takeuchi, H. (1995) discussed that how tacit and explicit knowledge interrelate to successfully create knowledge in an organization via four conversion processes: 2.7.1 Socialization tacit to tacit Socialization is the process through which tacit knowledge is passed to others; it is directly related to the group processes and organizational culture. Tacit knowledge is often attained through sharing experiences, observations and the processes that arises without formal discussions and using language for instance face to face interaction. Interviewing and focus groups techniques are also creating tacit knowledge amongst people. 2.7.2 Externalization tacit to explicit Externalization of tacit knowledge is the conversion of tacit knowledge to explicit. As tacit knowledge is embedded in the peoples mind and that is externalize or express by sharing of paradigms, metaphors and concepts through formal discussions. Nonaka, I Takeuchi, H. (1995) declared that we have conceptualized an image; we generally tend to express it in language. Externalization is developing notions which facilitate tacit knowledge to communicate. Redesign of existing information can escort to new knowledge in the shape of written statements. Wakefield, R. (2006) argued that when knowledge is externalized and turn into explicit it is in fact converted back into information or data. Both have values, but this cannot be out until the data and information is internalized again to form knowledge that is used for some productive purposes. 2.7.3 Combination explicit to explicit Combination is a process of systemizing concept into a knowledge system, at this level explicit knowledge merged with written reports and other strategic documents through formal discussions (i.e. meetings, documents etc.). This process includes gathering significant knowledge then sorting, editing and distributing it, which allows knowledge sharing within organization. Formal education and training are also comprise in this type of knowledge conversion. 2.7.4 Internalization explicit to tacit Internalization is a mechanism of altering explicit knowledge into tacit knowledge. It is achieved through individual expression and learning by doing. Once the explicit knowledge shared with individuals to internalize what they have experienced and then their understanding becomes tacit knowledge in the form of shared intellectual models or technological know-how which further become a valuable asset for the organization. For example: customer complaint are recorded and then read by other team members. 2.8 key components and its related barriers to Knowledge Management DuPlessis, M. (2008) point out that knowledge management is a holistic solution integrating mixture of perspectives: people, process, technology and culture perspectives and every single one should hold equal influence. According to Gillingham, H. Roberts, B. (2006), people, process and technology (soft and hard aspects) reveals the most essential features engaged in capturing, disseminating and sharing knowledge. These elements require to be balanced to guarantee that the complete benefits of knowledge sharing are exploited. Of course, people, process, and technology (PPT) are intertwined and no organizations get very far benefits without having a basic competency in all. But the tougher challenge in knowledge management is how to built PPT into an organization. Collison, C. Parcell, G. (2004) suggested that involving people who knows, and the behaviors to ask, listen and share, some processes to make things easier for sharing, validation, distillation, and a familiar, reliable te chnology infrastructure to facilitate sharing. Knowledge management is all concerning the integration of people, process, technology but strategy and structure too (Armistead, C. Meakins, M. 2002). According to Quinn, F. (2008) the development of knowledge managements exposes many issues that firms claim to have solved completely. The issues for example related to business benefits, people and culture, technology and process. These issues reflect all the main areas of concern in a knowledge environment and can be produce the barriers or road block to achieving the corporate success that most of would wish to inhabit. 2.8.1 People The biggest misunderstanding that the Information Technology (IT) leaders composed is that the knowledge management is all about technology. Gillingham, H. Robert, B. (2006) confirmed that people are the most central and complex element in knowledge management. It is a people who create and share knowledge, Since, (tacit) knowledge is set aside in the individuals the most essential thing for knowledge management is the system to allow the conceal knowledge within an individual be spread to others in order for them to share, exploit, and then alter it into (explicit) knowledge within an organization (Yeh, Y. et al., 2006). Knowledge management helps us do what we do better and its connect information and people, and people and people. Call, D. (2005) suggested that people are not being able to gain knowledge in a minutes and hours but they learn over days or weeks and one of challenge is to detained knowledge from what people said and did as part of their everyday job and to build it reachable to rest in an organization. According to Gundry, J. Metes, G. (1996) people behaviors is often manipulated by their beliefs, values, attitudes, and the organization culture. Influencing what people believe should direct to changes in values, attitudes and behavior in which knowledge is shared behavior. Gillingham H. Robert, B. (2006) stated that it is complicated to get people to do things in a different way because people can simply fall back on defensive routines. A state of willingness require from individuals to get people to modify the way that they do things, it is central to manage those who are willing to create and share their knowledge (Yeh, Y. et al., 2006). According to the Abell, A. and Oxbrow, N. (2001) people ask numbers of question in organization towards knowledge management for example: What is in knowledge for me? How does it make my job easier? What appreciation will I get for sharing my knowledge? Etc. It is important to identify what knowledge peo ple need and what knowledge people already possess and how to link people and knowledge process. In any system where information or knowledge is accessible, there must be adequate security to ensure that only appropriate people are able to see what knowledge is held and by whom, in that case confidentiality is the barrier to crafting a knowledge sharing culture in the organization (DuPlessis, M. 2008). But from the organizational point of view, one can comprehend that it is in national interest that the particular knowledge stays confidential. In other word the right information and knowledge should distributed to the right people at the right time and right place. For example in defense sectors and utilities provider such as countries like South Africa where they have one and only major energy provider, their key knowledge and information would be exceptionally secret hence it should be strongly managed (Sutton, S. Leech, S. 2002). Employee often does not know what is the concept of knowledge management their perception about knowledge as resources in not clear as capital assets resources. In the view of McCann, J. Buckner, M. (2004) people do not include knowledge into their work process to make final products and services and even do not feel responsible for sharing their own knowledge with colleagues. Kols, A. (2004) submitted that people do not even realize that they have knowledge worth sharing. Employees viewed knowledge management as an additional job, processes and formal channel of communications which is not incorporated into their daily working environment (DuPlessis, M. 2008). Another potential factor; employed turnover, where experienced employees transferred, promoted, retired, or fired from the organization, both their tacit and explicit knowledge may be lost unless the organization makes a concerted effort to assure that it is shared. Knowledge management setup and implementations requires sufficient time which is often claimed constraint. Time can be a difficult area or barrier, where employees are considered on the hourly basis, for example; accountants, lawyers, solicitors and engineers. For them, time is wealth and it is hard to modify the view that knowledge management be able to make them work smarter and quicker, even if they do expend some time on it upfront (DuPlessis, M. 2008). When the organization was steady and developing smoothly, it would be feasible for people to take extra time and effort to get involved in such knowledge management activities. Once the circumstances changed, these practices would be easily gone down because they were peripheral to business operations (Lin, L. Kwok, L. 2006). 2.8.2 Process Armistead, C. Meakins, M. (2002) declared that knowledge management is a process rather than an asset, and hence to facilitate maximize its value an organization must have to form an environment that facilitates the flow of knowledge. The argument between technology and people is about the ways of managing knowledge processes. Barnes, P. (2007), Probst et al., (2000) categorizes knowledge management in six core processes; knowledge identification, knowledge acquisition, knowledge expansion, knowledge sharing or distribution, knowledge exploitation and knowledge preservation. In order to share knowledge, one requires tools or processes: Expert locater systems, communities of practice (formal and informal), distance learning information-sharing tools, emergent expertise, storytelling, knowledge repositories, conferences/workshops/ seminars, e-learning applications and virtual communities are some of the methods organizations can use to disseminate knowledge. Abell, A. Oxbrow, N. (200 1) believed that people make process work, often through informal steps- how can these be formalized and how to build communities around business processes. Process must learn how to achieve the commitment of people to the learning process and how to integrate knowledge creation and utilization into business process. Processes need technology support- how to integrate business benefits and technology capability, it also require formal and informal communication between employees. Lack of communication, non-standardized processes and information systems and not knowing where to get knowledge. Gillingham, H. Roberts, B. (2006) stated that location and distance (geographical, legal, cultural and lingual) to access of vast organization knowledge can be a bottleneck Informal communication outlook as just chitchat or chatty activity, managers do not see the advantage of (tacit) knowledge process or transfer from one employee to another hence often employees are restricted to engage in discussing projects or ideas at meeting places such as near to water coolers or coffee machines (Webb, S. 1998). However organization confusion over the focus of the initiative often creates barriers to knowledge management: information or knowledge management; knowledge management or learning organization; which should lead human resources (HR) or information technology (IT). However there is danger in attempting to identify and collect everything available. According to Giannetto, K. Wheeler, A. (2000) if too much detail is gathered, it is impossible to distinguish what might be of value to employees and it will become a huge unmanageable, bureaucratic nightmare Organizations focus on collection not connection and attempt to capture all organization knowledge in repositories, often creating electronic bucket in place of physical filing cabinets also misunderstand the difference between tacit and explicit knowledge and treat it in the same way. 2.8.3 Technology The role of technology is significant; it is ultimately a facilitator of human knowledge in the organization. Technology or IS does not hold tacit knowledge, as it is held in the human brain (Rock, S. 1998), although it is transfer medium of tacit into explicit knowledge to some extend because tacit knowledge alters with each new experience and technology should be updated frequently. Armistead, C. Meakins, M. (2002) affirmed that information technology can enable speedy search, access and retrieval of information, and can support collaboration and communication between organizational members. In real meaning, it can undoubtedly play a variety of roles to support an organizations knowledge management processes. Technologies and knowledge management are strongly tied, because both assist the circulation of structured knowledge vertically and horizontally in the organization. (Yeh, Y. et al., 2006) argued that technology plays following roles in knowledge management: acquiring knowledge; classify, store, index, and tie knowledge related digital items; search and identify related content; and flexibly communicate the content based on the different utilization backgrounds. Knowledge management classifications are broadly defined technologies which improve and enable knowledge generation, codification and transfer. Peoples experiences and interpretations that add value, transforms into knowledge by using technologies. Knowledge management (technology) tools for instance: e-mail, document systems, groupware, the internet, intranet and video conferencing are all knowledge collaboration tools which can be use for gathering, organizing and sharing knowledge in the organizations (Gillingham, H. Roberts, B. 2006). Not everyone is computer literate and that sort of illiteracy become a cause which brake knowledge management processes also people finds that working with complex systems is not easy (DuPlessis, M. 2006). Sometimes it is more challenging for the organization to get people trained to using the KM tools (technologies) to facilitate knowledge sharing and retention. Holland, J. Johanson, U. 2003) recognized that organization consideration towards technological costs sometimes restrain in respect of installing knowledge management softwares and hardwares. Perhaps both are very expensive in terms of getting licenses for every member in a large organization. Since knowledge is an intangible asset, it is more complex for organization to calculate return on investment in hard form (cash), therefore step back from any initiative; however Collison, C Parcell, G. (2001) believed that knowledge benefits can be defined in qualitative and quantitative measures. Another barriers occur when technology is not up to date with the business processes as well as with the improvements in the technological world then knowledge and information might become rapidly old-fashioned and if maintenance and back-ups is not done regularly, knowledge can be vanished in a catastrophe situation, which is not only costly but also irretrievable. The advance type of communications for example; intranet if organizations only rely on this then it will be a huge barrier to the exchange of tacit knowledge. Davenport, T Prusak, L. (2000) suggest that knowledge sharing events happen when people connect via communities of practice and in person meetings. 2.8.4 Culture Chen, C. Huang, J. (2007) described organizational culture as shared value, beliefs, and work atmospheres that could have considerable impacts on the behaviors of employees. According to Yeh, Y. et al., (2006) culture is the combination of value, core belief, behavior model, and emblem. Culture is normally reflected in the form of organizations corporate structure, management and leadership style, learning from experience, norms, and practices, trust, rewards and recognition, networks and community of practices etc (DeLong, DW. Fahey, L. 2004, Al-Hawamdeh, S. 2003). Culture can play a role for organizational learning and every organizations culture is an independent entity different than any other organization. Alavi, M. Leidner, D. (2001) suggested that it is significant to comprehend that knowledge management is not as much of technical problem, but it is more of cultural problem. Culture is not only intangible and illusive, but it can also be observed at multiple levels in an o rganization. Trust and honesty are elements of culture sometime not clearly visible, Davenport, T. Prusak, L. (2000) confirmed that without these elements knowledge management would not function properly between individuals. Employees ask many questions themselves for instance; if I share knowledge will others misuse it, can I belief the knowledge that others created (Abell, A. Oxbrow, N. 2001). Another familiar barrier point out by Kols, A. (2004) knowledge as a source of power or authority and therefore hoarding it, similarly organizations are naturally unwilling to share their skills and know-how with rivals. Employees possibly will not willing to share their knowledge because they might lose control/power, they spotlight on continued existence in the organization rather than willingness to share knowledge (Clegg, S. Palmer, G. 1996). The following Chinese sayings depicting this philosophy with influences from such widespread beliefs, knowledge sharing becomes more complex. A good mastery of a single skill ensures a lifetime employment (Lin, L. Kwok, L. 2006). Internal divisions are general obstacle. Each department, field office, service delivery site, or project team tends to focus on its own problems, have limited contact with outsiders, and unaware of what other subdivisions are doing. Davenport, T. Prusak, L. (2000) stated that employee often assumes that the people in top of organizational hierarchy have greater knowledge and expertise and this difference amongst individual may be seen as a barrier. Employees on different hierarchical or designations frequently struggle to share knowledge between these levels, as they feel they may have much or more knowledge on a particular subject but not consulted or totally ignored because of their position in organization. Furthermore Webb, S. (1998) revealed that managers often try to avoid consult subordinates because they might fear for losing face. If skills are greatly diverse within professional areas and/or within ranks, it might obstruct the tools and practice through the knowledge is s hared between levels. Organization consists of multiple genders and seeking assistance from same gender whether the person is helpful or not is normal cause and may be a barrier. Bartram, S. (2005) stated that women in managerial position often seen as one of the cultural barrier. Also assorted age makes a differentiation at the point of exchanging knowledge. Webb S. (1998) believed that employees are unwilling to share knowledge if the future economic growth of organization is unstable and they strive to secure their position by retention of tacit knowledge as power. The overall organization instability may spoil social networks and reduce flow of knowledge from one corner to another in an organization (Lesser, E. Prusak, L. 2001). Management emphasis on individual rather than team, disincentive to knowledge sharing, competition between employees, motivational limitations, lack of acknowledging for the supplier of knowledge, sub-standard physical layout of work space, and fewer management commitments could be a constraint for knowledge sharing environment (Chase, R. 1997). 2.9 How the barriers of knowledge management can be managed? Knowledge management is a lengthy and iterative process and its related benefits realized over a period of time. There are no rapid fix solutions to counter these barriers. However to overcome these barriers an organizations require to undertake essential approaches and actions. According to Du Plessis, M. (2008) knowledge management barriers directly line up with organizational, national and personnel culture. Top and senior managements can play a significant role for instance by raising the awareness of knowledge management activities and its benefits into work place (Birkinshaw, J. 2001). At any level of knowledge management it is compulsory to make sure that employees trained on the basis of knowledge management, once the knew the insights of knowledge management they are enough able to see how its adds value into their routine jobs and how organization can create social and intangible capital. However if employees ignore or do not understand the notion of knowledge management th en they will not be capable to leverage it completely, even though organizations have elegant knowledge management plans and systems. Flexibilities between departments could span knowledge sharing boundaries. Employees should not reserve by position in a hierarchy and retain by resources. Davenport, T. Prusak, L. (2000) stated that the components of knowledge management: people, process and technology must be uniformly supplied in terms of time and money. The most powerful force in knowledge management is people because they can able to change their environment so trust in people is an extraordinary phenomenon in managing people and their knowledge. Milton, N. (nd) described two other ways to manage knowledge called connect and collect, however these terms are vastly similar to the Nonaka, I. Takeuchi, H. SECI model (see section 2.7). The S mean Socialization and it begins through the connecting people into social networks where they can able to talk, to share dialogues with other people where the other three boxes named Externalization, Combination and Internalization is all about revolving tacit knowledge into explicit into tacit knowledge. For example knowledge is documented, recorded into knowledge system or knowledge repository in an organized way thus the othe rs can access it. Organizational culture should abide for mistakes by recognizing and gratifying innovative errors, also there should be no fear of losing position from not knowing the entire thing (Gillingham, H. Robert, B. 2006). In the view of Barnes, P. (2007), decentralize structure gives opportunities to know where the decisive knowledge is located and able to make more accurate decisions. Incentive and reward systems not only influence members to support knowledge management activities but it also encourage their willingness to take part in the creation and sharing knowledge (Yeh, Y. et al., 2006). Lack of trust alters into culture of trust and confidence get by face to face interactions; its not only the way of transferring tacit knowledge between individuals but it allows to evaluating the trustworthiness of both the giver and the receiver. Use of technology in knowledge management stipulates user training and members should have skills available other than technical ones such as interpersonal skills. According to the Abell, A. Oxbrow, N. (2001) technologies should not be the driver and substitute of social interactions; neither should it be a barrier. 2.10 Summary Every organizations is a knowledge based and they possesses particular knowledge in various forms such as in human capital, structure capital, intellectual capital etc. and the issue of knowledge management is essential because organization lives in uncertain world. The above literature has been identified potential barriers to knowledge management which was categorized into organizational culture, people perceptions, ineffective processes and obsolete technologies. There is no cause to believe that those barriers will not impact on knowledge sharing to a more or fewer extent within an organization and between personnel. However the rationale of this study was not to classify an extensive organizational barrier profile but the principle was merely to recognize a set of commonly studied barriers in knowledge management which can be apparent in various means across an organization. When organizations managed and implement knowledge in a logical and structure way it can add value to bot h the employees and organizations effectiveness. The literature review also fascinated that knowledge management is a social activity or relies on social models, even though sharing of knowledge can be possible from technologies but recipient and sender of knowledge are still humans. Organizational culture, employees perceptions and their characteristics, sources of knowledge creation and the context in which knowledge is shared are key consideration in knowledge management.