Individual project Essay Example for Free

Individual project Essay Andy Rexford has started a cottage industry in his garage for catering for the niche market. Soon that market grows and so does his business. With this fast pace growth in the business Andy has expanded his business from one stitch machine to six stitch machine in the short period of time. Recently, Andy has developed a business plan which clearly states the good future growth and lots of financing required. Andy does not have much money of his own to invest in the business, so he is looking for the external financing sources. In this report, I will be discussing the different sources of external financing along with their advantages and drawbacks, and then I will be decided which source is the best for the Andy’s business. Sources of financing: There are various sources of financing the business but the most critical aspect is to understand which sources are appropriate for that particular business and how much finances do we needed. The assessment of sources is totally judgmental. Along with the judgment, it is also dependent on how willing he is to share the information about his business and ownership with others. Sources of finances are divided into 2 broad categories: -Internal financing -External financing. Andy’s savings and income are already been exhausted in the process of growth, and he requires more financing. To help Andy to take the decision wisely I will be discussing few external financing sources. External sources: External financing includes ownership capital and non-ownership capital. These two categories are divided into other several categories. For the business like Andy’s following three non-ownership capital financing is suitable. †¢ Banks †¢ Venture investors †¢ Small business association (SBA) Banks: They are the financial institution who lends the money to the businesses and individuals and charges an amount of interest against it. They are the hardest place to find the finances as the bank does not grant the loan very easily but the time is been changing now bank has come up many different loan schemes against which people are been given loans. A bank loan is considered as most desired mode of financing. People considered it as the most desirable because it is at times very speedy if you have good credit standing in the market you can get a loan in no time. Moreover, you can use that money in various ways and accountable for none. Although there are some advantages in getting a loan from the bank but there are some disadvantages as well. Disadvantages like, some loans carry a prepayment plenty so the borrower could not pay the amount early (Scarborough, 2006). Venture investors: Venture investors are those people who wealthy individuals, corporate and formal institutions who are willing to invest in the new business and growing businesses. In return for providing the capital to the businesses, they usually require a percentage of ownership in the company along with control over the strategic direction and payment assorted fees. Private equity provides capital and access to a network that can transform a company into an industry player, Karen E. Klein noted in Business Week. But the price is high: a chunk of your business. Like every other financing source, there are some advantages and disadvantages as well. The main advantage for the start-up business is that they are not obligated to repay the money. And the involvement of the high profile businessmen can also increase the credibility of new business. The main disadvantage an entrepreneur can have from the venture investor is that they become the part owners of the business, and thus they have the rights have a say in the decisions. The business owner faces a dilution of their position as owners and possible loss of power of controlling the business (Scarborough, 2006). Small business association: Small business association is the organizations in United States formed by the government that helps the entrepreneurs to start up their business. Small business association acts as the guarantor of loans for the people who do not qualify for the commercial loans. The advantages related to the small business association are that since it’s a government formed organization to encourage the businessman, they are charging very low interest rate as in comparison to the commercial banks. SBA takes a very quick decision regarding the approvals of loans to the people. There are many advantages attached to the SBA that makes it is desirable for the businessman but there is a gloomy side of this loan as well. Since its government loan no matter what happens to your business you have to pay off this loan before any other debt. Moreover, there is more paper work required than in commercial bank. The government wants to make sure that you are truly eligible for this particular loan or not. Andy’s source of financing: Andy should opt for the bank loan as it suits to the requirements of his business. Future of his business is very bright and there is a guarantee that his business will get double the size within next two years. So giving the ownership in his business would not be advisable if he wants to have all the profit, and he can have them as the matter of fact. As for the SBA, they have very long repayment schedule though the rate is a low but 20-30 years time period does not worth for that kind of loan. Since Andy only needs $700,000, which can be repaid within 2 years because the annual profit of Andy is 750,000. He can easily pay off this loan with 2 years. Hence it is suitable for Andy to take the bank loan. Conclusion: There are various sources of finances. Some financing can be done internally while some can be borrowed from others. In the case of Andy his earning is already been consumed in the expansion of the business. So it is suggested to him that he should take the bank loan because he does not need to give the ownership to the venture investors and does not need to give whole life to pay that loan. Bank loan will be the most desirable suggestion as Andy can pay this loan payoff this loan within two years. Moreover, he does not need to give any ownership to anyone.

Risk and Crisis Management

Risk and Crisis Management JAMES WALKER INTRODUCTION Risk and Crisis Management deal with threats to organizations. The organizations mitigate threats by applying management programs. Risk Management deals with threats prior to the event occurring while crisis management deals with threats when it unfolds or after the event occurs. Crisis examples would be natural occurrences, faulty equipment, human error, conflicts, intentional efforts, and imperfect leaderships. (Department of Homeland Security, 2009) (Shrivastava and Miglani, 1988) For this assignment, it will discuss following: the difference between risk and crisis management and the role of the National Response Framework (NRF) and the National Incident Management System (NIMS) plays, do I consider crisis management a part of risk management, and describe the possible types of crisis faced by my organization and which is important to be prepared for and why. RISK AND CRISIS MANAGEMENT The definitions of Risk and Crisis Management do vary, but generally the two deal with how organizations plan, prepare, and mitigate. Crisis Management is processes that are allocated to manage unexpected incidents that threat organizations, operations, and individual or group of people. (Australian Government, 2010) A crisis does happen without warnings and it is utmost important that plans are in place to be able to execute quickly (reactive) such actions to remedy situations or decrease the impact of a crisis to reestablish normality. Risk Management is a continuous process which threats are emphasized and solutions are in place to mitigate or avoid the risks (proactive). No matter how well prepared the procedures are for risk management, a requirement for any organizations or groups need to have a crisis management plan in place. (Australian Government, 2010) The NRFs role to crisis and risk management is providing the guidance for the Nation to all responses to occurrences and it is created upon scalable, flexible, and adaptable coordinating structures to associate roles and responsibilities. Furthermore, it gives the authorities and best customs for managing incidents or occurrences (Policy for Crisis Management). (Department of Homeland Security, 2009, 2013, and 2015) For NRF to support the role of crisis and risk management, it is comprised of core documents, the Emergency Support Functions (ESF), Support and Incident Annexes, and Partner Guides. The core documents discuss the responses, roles, and responsibilities for our nation to include response actions, organizations, and planning requirements. (Department of Homeland Security, 2009, 2013, and 2015) The ESF is the resources and abilities from Federal and State that are functional areas that are needed for a response such as Transportation, Law Enforcements, Mass Care, and Firefig hting to name a few. Support Annexes are the essential support aspects that are common to occurrences or incidents such as Financial Management and Coordination from private sectors. The Incident Annexes are the aspects how to respond to incident categories such as Biological, Nuclear, Radiological, Cyber, and Mass Evacuation. Lastly, the Partner Guides give the references to discuss the key roles and actions for Local, Tribal, State, Federal, and Private-Sector response teams. (Department of Homeland Security, 2009, 2013, and 2015) The NIMS works hand in hand with the NRF. NIMS role in crisis and risk management is to give the guidance for command and management structures of incidents to organizations or people. It provides the methodical and proactive tactics at all levels of governments to include private sectors to work efficiently to prevent, protect, respond, recover, and mitigate incidents or occurrences no matter the cause, location, size, and the complexity. (Department of Homeland Security, 2008 and 2009) (FEMA, 2013 and 2016) The question to think about is crisis management a part of risk management. A good risk management process minimizes loss when occurrences arise. A good crisis management is essential, but it should not be replaced for risk management processes. Regardless having a robust risk management process, occurrences or crisis will happen and cannot be predicted. The preparation to deal with and act immediately is essential when it comes to the two being a part of each other (plan, prepare, and mitigate). (Department of Homeland Security, 2009) (FEMA, 2013) (James and James, 2008) A good structure for risk and crisis management process maximizes the ability to act and minimizes losses. Crisis and Risk Management would discipline a broader context of management for identifying, assessing, understanding, and coping with the occurrences. Additionally, they would influence the preventing, alleviating, and overcoming different types of crisis. In the end, risk management assesses the threat levels and allows for ways to avoid the potential threats. Crisis Management deals with threats prior, during, and after the occurrence. (Australian Government, 2010) (Department of Homeland Security, 2009) (FEMA, 2013) TYPES OF CRISIS IN MY ORGANIZATION Crises in telecommunication organizations arise all the time. Telecommunications have four threats associated such as compliance, operational, strategic, and financial threats. Compliance deals with the laws, regulations and corporate governance. Operational is the impacts on the processes, systems, and people to include the overall value of the organization. Strategic relates to our customers and investors to include competitors. Lastly, Financial is the instability to keep up with technology, fixing hardware failures, updates on software and have the proper training for the employees. (EY, 2014) (MSG, 2017) The threats have crisiss that are underlined. The number one crisis is the new roles of involving industry ecosystems. The realization and understanding the importance of the new growth opportunities, customer satisfaction, and competitors to keep up with technology is a big issue and it is the driver in todays digital world (new technologies). The Compliance threat has crisiss dealing with controlling new structures and essentials in privacy and security. Additionally, the mentioned would be the second importance in a telecommunication organization. The obedience with policy and security is not regulated to protect our data. It is the reason we have the breaches in our ecosystems. (EY, 2014) (MSG, 2017) The crises in Operation threats have organizational agility especially dealing with diverse ecosystems and fostering innovation. Furthermore, the issues with data integrity to drive growth and efficiency including performance measurements. The crises in Strategic threats have customer satisfaction issues, new services available, and simplicity and flexibility to include adopting new innovation methods to improve the networks (ecosystems). The crises in financial is always going to be dealing with competitors with new technologies to improve the heterogeneous network landscape for the diverse networks. (EY, 2014) (MSG, 2017) CONCLUSION Risk and Crisis Management deals with threats to organizations. The organizations mitigate threats by applying management programs. Risk Management deals with threats prior to the event occurring while crisis management deals with threats when it unfolds or after the event occurs. Crisis examples would be natural occurrences, faulty equipment, human error, conflicts, intentional efforts, and imperfect leaderships. (Department of Homeland Security, 2009) (Shrivastava and Miglani, 1988) The NRFs role to crisis and risk management is providing the guidance for the Nation to all responses to occurrences and it is created upon scalable, flexible, and adaptable coordinating structures to associate roles and responsibilities. Furthermore, it gives the authorities and best customs for managing incidents or occurrences (Policy for Crisis Management). For NRF to support the role of crisis and risk management, it is comprised of core documents, the Emergency Support Functions (ESF), Support and Incident Annexes, and Partner Guides. (Department of Homeland Security, 2009, 2013, and 2015) The NIMS role in crisis and risk management is to give the guidance for command and management structures of incidents to organizations or people. It provides the methodical and proactive tactics at all levels of governments to include private sectors to work efficiently to prevent, protect, respond, recover, and mitigate incidents or occurrences no matter the cause, location, size, and the c omplexity. (Department of Homeland Security, 2008 and 2009) (FEMA, 2013 and 2016) My organization deals with telecommunication and crises are always arising all the time. Telecommunications have four threats associated such as compliance, operational, strategic, and financial threats. The number one crisis that falls under compliance is the new roles of involving industry ecosystems. The realization and understanding the importance of the new growth opportunities, customer satisfaction, and competitors to keep up with technology and it is the drive for todays digital world (new technologies). (EY, 2014) (MSG, 2017) The crises dealing with controlling new structures and essentials for privacy and security with the networks would be the second issue. It is the second importance in a telecommunication organization. The obedience with policy and security is not regulated to protect our data. It is the reason we have the breaches in our networks. (EY, 2014) (MSG, 2017) BIBLIOGRAPHY Australian Government (2010). AS/NZS ISO 31000 (2009), Risk Management-Principles and  Guidelines, Retrieved from: http://www.finance.gov.au/sites/default/files/COV_Risk_Management_Fact_Sheet_FA3_23082010_0.pdf, August 2010. Department of Homeland Security (2012). Department of Homeland Security Strategic Plan:  Fiscal Years 2012-2016, Retrieved from: https://www.hsdl.org/?viewdid=700830. Department of Homeland Security (2015). Presidential Policy Directive / PPD-8: National  Preparedness: National Preparedness, Retrieved from: http://www.dhs.gov/presidential-policy- directive-8-national-preparedness, September 23, 2015. Department of Homeland Security (2013). National Response Framework, Retrieved from:  https://www.fema.gov/media-library-data/20130726-1914-25045- 1246/final_national_response_framework_20130501.pdf. May 2013. Department of Homeland Security (2008). The National Incident Management System,  Retrieved from: http://www.fema.gov/pdf/emergency/nims/NIMS_core.pdf Department of Homeland Security (2009). National Infrastructure Protection Plan, Retrieved  from: http://www.dhs.gov/xlibrary/assets/NIPP_Plan.pdf. EY (2014). Top 10 Risks in Telecommunications 2014, Retrieved from: http://www.ey.com/Publication/ vwLUAssets/EY_-_Top_10_risks_in_telecommunications_2014/$FILE/EY-top-10-risks-in-telecommunications-2014.pdf. FEMA (2013). National Preparedness Goal, Retrieved from: http://www.fema.gov/media-library-data/20130726-1916-25045-3131/2013_npr_fact_sheet.pdf. FEMA (2016). National Preparedness Report, Retrieved from: https://www.fema.gov/national-preparedness-report, May 31, 2016. James, E., and James, E. H. (2008). Linking crisis management and leadership competencies:  The role of human resource development, Advances in Developing Human Resources 10  (3), 352, Retrieved from: http://webuser.bus.umich.edu/lpwooten/PDF/ADHR316450.pdf. MSG (2017). Management Study Guide, Crisis Management Meaning, Need and its Features,  Retrieved from: http://www.managementstudyguide.com/crisis-management.htm. Shrivastava, P. Mitroff, I.I., Miller, D. and A. Miglani (1988). Understanding industrial  crises, Journal of Management Studies 25(4), 285-304, Retrieved from: http://paulshrivastava.com/Research%20Publications%20Directory/UNDERSTANDING%20INDUSTRIAL%20CRISES.pdf.

Strategy of long term goals and objectives

Strategy of long term goals and objectives Strategy is the determination of the primary long term goals and objectives of the organization. It is the adoption of courses of action and the allocation of resources for carrying out these goals (Chandler, 1962). Strategic planning is very important factor for an organization. It is the process of determining a companys long term goals and then detecting the best approach for fulfill those goals. 1.1: Bangladesh Steel Re-Rolling Mills Ltd Bangladesh Steel Re-Rolling Mills Ltd. (BSRM) a unit of well known H. AKBERALI Group of Industries, having 50 years experience exclusively in steel production, is fully automatic steel re-rolling mill in the Bangladesh. The mill was imported from U.K. and commissioned at the sea port of Chittagong. The initiator of the group was late Mr. Akberali A. Africawala and is now managed by his sons nephews. Bangladesh Re-rolling Steel Mills Limited (BSRM) was established in 1960 and started to produce commercially in 1961. The head office is situated at Sadarghat, and it has factory at Bayazid Bostami road, Chittagong. Company slogan is Be Safe. The production capacity is 20 metric ton per hour. The utilization rate is near about 75%. Machineries have been imported from England. BSRM is going to set up a different steel factory at Fouzdarhat in Chittagong to meet the increasing demand. The brand name of their products is BSRM. It is an ISO certified manufacturing concern. It usually follows cost base pricing. They do not discriminate the prices of their products. Their annual promotional budget is Tk 15000000. The prices range between Tk 37500 to TK 39500. The margin per MT is Tk 2300. The revenue is Tk 11000000 per year. During the winter season, the demand for their products goes up. 1.2: Mission of BSRM The Mission of the Company is to make life of the people secured and safe by providing quality products at a cheaper price and to be a partner in the nation building activities. 1.3: Vision of BSRM *Support the society through Corporate Social Responsibility initiatives *Maintaining leadership position in the steel industry by producing the best quality steel products, continuously enhancing customer satisfaction and becoming a reliable business partner of their customer and suppliers. *Be an employer of choice, on focus on nursery and talent and developing future leaders of the organization. *Protect the interest of their shareholders throw sustainable growth and value correction. *Preserve the trust of all of their stakeholders by adopting ethical business practices. 1.4: Core Organization Values Sustainable Growth: Steady improvement in the quality of products and services, efficiency of processes and profitability of business. Quality: Creating products and services valued by our customers; consistently improving through innovation and adopting best practices. Reliability: Be the preferred business associate of our customers and suppliers by offering quality products. Leadership: Be a role model, setting benchmarks through our products, processes and people. Customer Satisfaction: Delight our external and internal customers at every stage of our interaction with them by really understanding their needs, offering them our most excellent products and services. 1.5: Goals and Objectives Support the society through Corporate Social Responsibility initiatives. 1.6: Stakeholders Share holders and Share Percentage Sponsor/Director 65.52%, Institute 11.7%, Public 22.78% Suppliers Meghna Engineering Works Limited, Nasirabad I/A, Chittagong., DuferCo Asia PTE Limited, Singapore, Nortrade International Pte Limited- Australia, Maithan International, Mumbai, India, BGH Exim Limited Kolkata, India. Competitors Rahim Steel Mills Limited, Kabir Steel Re-Rolling Mills Limited, Seema Steel Re-Rolling Mills Limited, Bashundara Steels. Board of Directors Mr. Alihussain Akberali, Mr. Zohair Taherali, Mr. Aameir Alihussain, Mrs. Tehseen Zohair Taherali, Mrs. Sabeen Aameir, Mr. Qazi Sarwar-E-Alam. Bankers Agrani Bank Ltd, NCC Bank Ltd, The City Bank Ltd, AB Bank Ltd, Dhaka Bank Ltd, Prime Bank Ltd, The Trust Bank Ltd, Bank Alfalah Ltd, Eastern Bank Ltd, Pubali Bank Ltd , IFIC Bank Ltd, Uttara Bank Ltd, BRAC Bank Ltd, Mercantile Bank Ltd, Standard Bank Ltd. 1.7: Organogram of BSRM Figure 1.1: The present existing organizational structure of BSRM Chapter 2 Assignment: Part 2 Q.1. (i) An analysis of the internal and external environment affecting the company above.- Internal Analysis By using the Internal analysis we can find the organizations strength, ability, productivity and many others factors. Here Lewis 6 factors have used for the analysis of the internal environment of BSRM. It is as follows: Management Capabilities BSRMs top management members have high educational and professional qualifications such as MBA, CA, MS. In Bangladesh BSRM management is the most experience and capable management in the steel industry sector. Marketing BSRM has well established brand name and brand value in Bangladeshi market. They have strong media and communication division which uses effective and strong advertising techniques to reach to the people. Delivery and distribution is one of the most important factors to win and retain customer confidence. For smooth and prompt delivery BSRM has already engaged several hundred dealers all over the country. It has sales and delivery depots in Dhaka, Sylhet, Bogra, Khulna, Moulvibazar and Comilla. Product and Services BSRM provides best quality products like Deformed Bar Xtreme 500W Yield Strength 72,500 psi (min), Grade-75 Wires, Angles, Channels, Spring Steel Flats, Low Carbon Wire Rods, etc. Company also provides good services for his customers such as free product delivery service. Information Technology (IT) In recognition of the recent rapid growth of the company, the present IT facilities are in the process of modification to meet the requirements of all the operating units and functional departments of the company. To ensure prompt and accurate information and data management, BSRM has decided to reconstitute total IT structure of the group. The development of this modification has already started. BSRM introducing integrated software encompassing sales and marketing, production, accounts, stores etc to enhance the effectiveness of the company businesses. Finance In Dhaka stock exchange, BSRM is one of the strong capitalised companies. Its annual turnover is BDT 15,843,586,337. BSRMs Authorized Capital in BDT (Crore) is 200.00 and Paid up Capital in BDT (Crore) is 145.00. BSRM always maintain good financial and audit record. Human Resources BSRM has experience and professional workforce. Company provides excellent training and motivation program for the employees for better productivity and performance. In 2009 a few plans were put into place that will significantly revamp the companys Human Resource Management (HRM) capability. BSRM has appointed Price water house Coopers (PwC) one of the largest and reputed management consultancy firms in the world with the aim of strengthening human resource management. External Analysis For analyzing the external environment of an organization PESTEL and Porters 5 forces analyze are used. Porters five forces include the supplier bargaining power, buyers bargaining power, threat of entry, threat of substitute and competitive rivalry (Robert, 2008). The Porters Five Forces model is a straightforward tool that supports strategic view where power lies in a trade condition. Threats of New Entrants Capital Requirement: Steel business is an investment precise business sector. Already BSRM has invested large amount of capital in steel sector. Government Policy: BSRM is an old company and its Corporate Social accountability already enjoys a reputable position in front of the Bangladesh Government. Differentiation of product: Steel has very small barriers in terms of product differentiation as it does not fall into the magnificence or specialty goods and thus does not have any bulky price variation. However, BSRM still enjoy a premium for their products because of its quality and its brand value. BSRM has introduced brands like BSRM Xtreme 500W, BSRM Grade-75 Wires, BSRM Angles, BSRM Spring Steel Flats. Competition Analysis One commonly used concentration ratio is the four-firm concentration ratio, which consists of the market share, as a percentage, of the four largest firms in the industry. All the major domestic competitors like KSRM, Rahim Steel Ltd., PHP, Bashundhara have announced massive expansion plans recently. Bargaining Power of Suppliers Globally, the top three mining giants BHP Billiton, CVRD and Rio Tinto supply nearly two-thirds of the processed iron ore to steel mills and command very high bargaining power. In order to safeguard itself from the high bargaining power of the suppliers, BSRM has forayed much earlier into the strategy of Backward Integration. Threat of Substitutes: Plastics and composites create a threat to BSRM in one of its biggest market. Perhaps the main beautiful substitute of stainless is aluminium. Steel has already been replaced in some huge number applications: large diameter water pipes (RCC pipes), railway sleepers (RCC sleepers), small diameter pipes (PVC pipes), and domestic water tanks (PVC tanks). Bargaining Power of Buyers: Some of the major steel consumption fields like gas, oil and automobile, shipping, consumer power and durables generation have the advantage of high bargaining power and get smart deals. Q.1. (ii) Briefly state any major changes took place based on the affect of external environment. BSRM has launched new product named BSRM Xtreme 500W in 2008 due to the hard competition in steel sector in Bangladesh. Competition among the competitors is one of the important external environmental factors. In Bangladesh there are many big steel industries running their operation. All the major domestic competitors like KSRM, Rahim Steel Ltd., PHP, Bashundhara try to achieve the higher position in this field by produce new products. Nowadays construction activities are increasing more than any time ever. Bangladesh is not separate from this growth. For buildings, bridges, household instruments, etc. construction steel is essential product. The increasing demand of steel, produce hard competition among the existing steel industries in Bangladesh. BSRM always try to give new, safe quality products and services for their customers. By this way BSRM attract new customers and try to beat their competitors. At present everyone using high quality steel bar for the construction purposes. BSRM Xtream 500W bars make a tremendous change in Bangladeshi steel sector and make BSRM the leader in steel industry. Q.2. Review the existing business plan of the chosen company and review the competitive position and current business strategy. Current Business Strategy of BSRM BSRM has developed its strategy for the future growth of the company. By applying the market oriented strategy BSRM try to attract more customers. At present, BSRM has launched new products in the market named BSRM Xtreme 500W. The company already booked many construction material supply orders from the corporate customers. Price reduction strategy is another strategy they have already started to apply. The company has already appointed more than 100 dealers and agents all over the country to supply their products and services to their customers. By providing high quality products and customer services BSRM try to increase their sales and profits. This is the current business strategy of BSRM. Current Business Plan of BSRM For increase the production capacity by 33% from the present capacity of 375,000 tons/year to 500,000 tons/year BSRM has taken some actions. The next plan of BSRM is, they will spend about Tk. 650,000,000 for the expansion of the company. By retained earnings and partially by term loans from the banks, BSRM will finance their business target. For the un-interrupted raw material supply BSRM group has established a new company named BSRM Iron Steel Co Limited (BISCO). BSRM Steels Ltd. will acquire 95% stake in BISCO for strategic reasons and increase competitive position of our Company. Competitive Position of BSRM Various models and strategies can be used to review the competitive position of a company such as Boston Consulting Group Matrix, Industry Life Cycle and Strategy clock etc. I am going to analyse the competitive position of BSRM by using Boston Consulting Group Matrix (BCG) and Industry Life Cycle. Boston Consulting Group Matrix It is classified all companies strategic business unit according to the growth rate and market share (Kotler, 2008). High relative market share Low relative market share High market growth rate Stars Question marks Low market growth rate Cash cows Dogs Figure 2.1: BCG Matrix chart The above chart showing four different level of competitive position. Stars High market share high market growth. Question mark Low market share high market growth. Cash cows High market share low market growth. Dogs Low market share low market growth. According to this Boston Consulting Group Matrix analysis BSRM is in the position of star because it has about 50% market share in the steel industry. BSRM is number one steel industry in Bangladesh. BSRM earned net profit of Tk. 574.08 million in 2009. Gross Profit also increases Tk. 271,922,738 from the previous year. So it shows the high market share and high growth rate. Industry Life Cycle BSRM Figure 2.2: Industry life cycle chart The industry life cycle is an important indication of the growth of a company. The different stages of an industry life cycle are: introduction, growth, maturity, and decline. Sales normally start gradually at the introduction stage and then lift-off continuously throughout the growth period. After the maturity stage, sales then start a regular decline. Basically, profits usually running to rise during the life cycle. An industry start its journey or beginning from the introduction phase of the life cycle. Perhaps a fresh and unique product offering has been developed and patented, thus beginning a new industry. Significant amount of capital required in the growth stage of an industry like the introduction stage. The industry is experiencing more product standardization at this stage. When the industry begins its expansion into maturity stage the curve looks flat. This indicates slow growth of the industry. Some experts place another stage between growth and maturity, called expansion. Declines are almost expected in an industry. If product improvement has not kept speed with other competing products and if new innovations or technological changes have caused the industry to become obsolete, sales suffer and the life cycle experiences a decline. In this stage, sales are falling at very fast rate. According to the figure 2.2 of industry life cycle, the competitive position of BSRM is in maturity stage. BSRM has already passed its introduction and growth level. Now it has a brand name and value in Bangladeshi steel market. BSRM has very strong customer backup. Now in this mature stage, it has to introduce new strategy to increase its growth. Q.3. Identify and evaluation of alternative strategies that would consist of companys goals and objectives and select an appropriate future new strategy. According to the previous analysis of the existing position of BSRM I can suggest a possible alternative strategy under ANSOFF matrix. ANSOFF matrix is a popular method among the organizations business practices. ANSOFF matrix (Product market expansion grid) represents four potential options which are shown in the figure below. ANSOFF Matrix (Product-Market Expansion Grid) Figure 3.1: ANSOFF Matrix (Product-Market Expansion Grid) layout. Market penetration Market penetration is the name given to a growth strategy where the business focuses on selling existing products into existing markets. Market development Market development is the name given to a growth strategy where the business seeks to sell its existing products into new markets. Product development Product development is the name given to a growth strategy where a business aims to introduce new products into existing markets. This strategy may require the development of new competencies and requires the business to develop modified products which can appeal to existing markets. Diversification Diversification is the name given to the growth strategy where a business markets new products in new markets. This is an inherently more risk strategy because the business is moving into markets in which it has little or no experience. Here two alternative strategies I can mention. They are Market development and product development. Let us evaluate both strategies related to the BSRM. Market Development Suitability BSRM can increase their market coverage through the market development strategy. By applying market development BSRM can increase its sales growth rate. If they increase their sales obviously they can profit. There are some areas in Bangladesh which are in under development process. Many constructions activities are running all over the country. So, it can be a good chance for BSRM to increase their market growth. According to BSRMs vision and mission statement it has mentioned to provide high quality steel products to the customer and become market leader in steel industry sector. Market development can support BSRM to achieve their mission and vision. So this is a suitable strategy to BSRM. Acceptability BSRM is the leading steel industry in Bangladesh and they have brand name. People undoubtedly believe their products. BSRM always honestly work for their customers, shareholders. So, in capital market it has a positive reaction. Currently government spending large amount of money in the industry sector for the development of current economical condition. So, this is an acceptable strategy. Feasibility According to the cash flow statement BSRM has good financial ability in market. In the date of 31st March, 2008 BSRMs share money deposit was BDT 6,015,000 and Liability against import was BDT 169,597,618. It has the largest work force and experience management team. BSRM has good annual balance and cash flow statement. Their stock market shares are also strong valued. BSRM has financial capability to research on the market. So this strategy is also feasible. Product development Suitability Bangladesh Steel Re-Rolling Mills Ltd. currently produces steel related products and services. It has good market share as mentioned. BSRM can use product development strategy for their market growth. Peoples experience and perceptions are always changing. So customers prefer to experience new product. Generally they like new products with high value and low price. BSRM can produce new products and can improve their customer relation facilities. Also they can improve their current product by using new technological instruments and machines. It has already create and maintain a well known brand name so, that will help to marketing the new product. Also BSRM created brand and customer loyalty so this strategy is appropriate to BSRM. Acceptability Using the industry life cycle analysis it is clear that BSRM coming under the maturity stage. Therefore, product development is acceptable in this stage. It will help to achieve the profit growth. Through the product development it can ensure the profit and success. In the steel business field changes are important to progress in the market. For an example TESCO has introduced TESCO lemon drinks, TESCO sugar, etc. Introduce lemon drinks and sugar is product development strategy for the company. It is not a completely new product it is a modified product. By Using these types of strategy TESCO try to increase their market growth. So this strategy is also acceptable for BSRM. Feasibility Through the financial statement BSRM has established their financial resource. They have strong financial background and stability in the market. Optimum level of financial resources helps BSRM to support the product development strategy. As a steel industry BSRM has the financial, human, technology and physical resource. Favourable and good cash flow statement shown in the financial statement. Therefore this strategy is also feasible to Sri Lanka Telecom. According to the evaluation of the alternative strategy analysis I can recommend that product development strategy is the most suitable strategy than the market development. There are many opportunities for BSRM to enter into the new market. BSRM already has the brand name. So it is the chance for BSRM to implement the product development strategy. Q.4. Construct a new suitable structure for a strategy plan ensuring the participation of all stakeholders. New Organizational Structure Figure 4.1: Proposed New Organizational Structure of BSRM Under the every divisional CEO the structure will be same for GM to the bottom line. It is a common practice that when an organization changes their strategy it requires to change of the organizational structure. There are four major types of organizational structure used which are divisional structure, functional structure, matrix structure, strategic business unit structure. According to the new strategy of BSRM I have proposed a new organizational structure. The new structure is the divisional form of organizational structure. Product development is the new strategy I have recommended for BSRM. So, I have restructured the existing structure. I have added six divisional CEO for the company according to my new strategy product development. One CEO cannot control all of the part of Bangladesh so I have introduced the others. I have included another manager who is product research and development manager under the Sr. Manager Marketing Sales. In this structure product research and development manager is an important post. His job will be the product research and find out the market opportunity which BSRM can implement into their product development strategy. Q.5. Analyse how you would plan for the implementation of strategy in the perspective of following issue. Strategic Plan Strategic plan is a set of statements describing the purpose and ethical conduct for an organization together with the specific strategies designed to achieve the targets set for each of these. The strategic plan can be arranged by analysing the internal and external factors which have control over the company. There are some major points involved in strategic planning. They are as follows:- Defining corporate mission Setting corporate objectives and goals Designing the business portfolio Designing the key business unit strategy Functional plan. BSRM strategy plans accordingly the above steps. Corporate mission Become a market leader of Bangladesh in steel industry sector by providing a good and high quality products and services. Corporate objectives Maintain leadership position in the steel industry sector. Provide high quality products and services with affordable price. Achieving the target profit growth Increase the market share. Business portfolio BSRM produce steel related products such as: Deformed Bar Xtreme 500W, Grade-75 Wires, Angles, Channels, Spring Steel Flats, Low Carbon Wire Rods, etc. Business unit strategy To achieve its objectives product development is the BSRMs business unit strategy. Functional strategy To support the business strategy, BSRM has developed many promotional strategies. BSRM select the Chittagong and Dhaka division to increase its market area. Strategy can be reach through cost reduction, improved quality of product and services, through the development of customer preference and the raise of competitive leverage (Henry et al, 2003). Resource Requirements The resources are essential requirement to implement the strategy of the business. For the implementation of strategy there are four mail resources required. They are financial resources, physical resources, human resources and technological resources. Through the financial statement BSRM has established their financial resource. They have strong financial background and stability in the market. Technological resource is very much related to the steel industry sector. In 2008 a state-of-the-art DANIELI built rolling mill BSRM Steels for manufacture the highest grade bar available in Bangladesh. So BSRM adopt new technology to deliver good and quality products to his customer. BSRM has appointed PricewaterhouseCoopers (PwC) one of the largest and reputed management consultancy firms in the world with the aim of strengthening human resource management. BSRM has highly skilled labours and also has physical resources to implement the strategy. BSRM needs to acquire these resources effectively to support their objectives goals. Targets and timescales Timescale is one of the main facts for the implementation of strategy. If time target is fixed then the strategy control will be easy. BSRM always try to set a target timescales for the implementation of their strategy. By following the new strategy, BSRM has set a five years timescale to achieve their corporate objectives. The company has to do some research into the market condition and has to improve technical and distribution side. So it will take 5 years time period to achieve BSRMs new strategy.

Writing: A Necessity? Essay -- History Philosophy Essays

Writing: A Necessity? What, specifically, is so necessary about writing? What inspired the first cavemen to use an instrument (bone or stick) dipped in the indelible dyes derived from plants to create petroglyphs upon a wall? Why did the ancient Egyptians find it necessary to formulate a process that would create the first papyrus sheets making language a portable commodity? What was it that made Gutenberg want to simplify the printing process so that text could be mass-produced and disseminated to more people? George Farquhar (1678-1703) is attributed with the quote, â€Å"Necessity is the mother of invention.† In light of this statement, I must ask again, what is so necessary about writing that the need to do so has given rise to the invention of paints and inks, the stylus and pencil and quill, the fountain pen and ballpoint, typewriters and fonts, and finally computers and word-processing? I believe there are two very simple and basic reasons behind this so-called â€Å"necessity† of these created inventions – reasons as old as mankind’s innate human nature. First of all, people desire to communicate – this desire transcended mere touch and hand signals or facial expressions and became language. Not to trivialize and condense the ages of development into a paragraph, but as more complex concepts arose it created the need for more complicated symbols and signs to convey meaning accurately. Human memory being what it is, fallible and ultimately terminal, written language became the vehicle to transport the second, and probably more important factor in the continuing invention of written technology – people want to leave something of themselves to posterity. This may be in the form of a story, a poem, a last will and testa... ...r of invention – at least where the desire to communicate is concerned. History has shown mankind’s aspirations to not only leave a message behind, but to invent better processes to preserve and spread those messages. I cannot conceive of sending a message to my sister in Arizona on the sycamore leaf from my backyard faintly inscribed with charcoal from an old apple tree stump. Chances of it arriving in one piece would be slim. However, with today’s technology, I can email her or engage in instant messaging. Technology has made communication easier and quicker, but to this I must add one more question – has it made it better? When we are limited and each word becomes a painstaking choice, perhaps the weight of the message becomes greater, clearer, more profound than when we have the ability to run on and on chasing a flashing cursor across a clean white page.

Response to Goerge Orwells 1984 :: essays research papers

Upon my reading of the novel 1984, I was fascinated by George Orwell’s vision of the future. Orwell describes a world so extreme that a question comes to mind, asking what would encourage him to write such a novel. 1984 took place in the future, but it seemed like it was happening in the past. George Orwell was born in 1903 and died in 1950; he has seen the horrific tides of World War  ² and à . As I got deeper into this novel I began to see similar events of world history built into 1984. The main thing I saw in this book that brought me back to historical events, was the control of people for corrupt and selfish purposes. At the end of World War  ² Japan began to capture areas in Asia and the Pacific that had valuable materials such as coconut copra, rubber and quartz. The inhabitants of captured territories where more or less given the status of slaves. I saw the same events taking place in 1984; wars were being fought in disputed areas which contain valuable goods, but the main reason for war was for cheap slave labor. When Winston and Julia are in Mr. Charrington’s room Julia brings out a surprise â€Å"It’s real tea. Not blackberry leaves.† â€Å"There’s been a lot of tea about lately. They’ve captured India, or something,† (1) Oceania is a world where quantity is more important than quality and quality goods are hard to get a hold of because it is reserve for greedy inner party members. Another instance of a concept that brings me back to historical events is the strong connection between the Oceanian society and the German Nazi society. After World War  ² Germany was still in a stage of depression, Adolf Hitler promised a way out. So he began his brainwashing campaign and used load speakers and radio broadcasting. He started destroying books that opposed his views and murdered people that stood in his way to power. To keep control over society the inner party also used the same tactics. They formed a secret organization (known as the brotherhood) to stop any treat to the party. And built departments (Ministry of Love, Truth and Plenty) to keep the party in power, the party even eliminates or re-writes parts of history if needed. During World War à  communication improved, Hitler came to power by using communication; he used load speakers, radio broadcasting and slogans to promote his views.

Is Study Guide Midterm

Understand some basic terminology in IS Examine how IS supports a major company's business function (UPS case) information and technology strategy Required Readings Chapter 1, Text, pages 2-35 Preparation and Questions Read the UPS case carefully, peg. 23-24 What are the inputs, processing, and outputs of Pup's package tracking system? What technologies are used by UPS? How are these technologies related to Pup's business strategy? What problems do Pup's information systems solve?What would happen if these systems were not available? SIS – Collaboration through Technology Introduce the Team Contract Understand the basics of collaborative behavior Examine different types of collaborative technology that can be used to support team behavior Choose a collaboration platform for your team Required Readings Chapter 2 Collaboration Information Systems, pegs. 41-71 Questions and Preparation What experiences have you had with collaboration tools in the past? Have you used Keep, Google Docs, SMS Tools to get projects done? Have you ever worked on a virtual team? How did collaboration work when you could not work face to face?What are some of the criteria that you are thinking about in choosing the appropriate collaboration platform for your team? Be sure you understand the pros and cons of the different collaboration tools described in this chapter . SIS – Competitive Strategy: Competitive Advantage through the Web Objectives Identify how technology changes are affecting industries and businesses within different industries. Example of Blockbuster, Nettling Examine how different impasses (Ezra and TAX) make different technology choices to support distinct strategies Understand the concept of the â€Å"Long Tail† Reading Text, pages 83-104.Movie Rental Business: Blockbuster, Nettling and Redbook SMS Tools â€Å"Long Tail† How do the various players create and capture value? (movie studios, theaters, DVD retailers, Blockbuster, Nettling, Redbook , On Demand, Apple TV) What factors led to Nettling growth? How should Blockbuster have responded? What Factors led to Redbird's growth? Why did it capture a market already dominated by others? What are the key success factors in movie rental? How do Blockbuster, Nettling and Redbook compare on these dimensions? What's next? What advice do you have for players in this business?SIS- Business Process, Information Systems, Information Nomadic Field Manual: Understand at a basic level what a business process is Understand how to map a business process Understand the relationship between business processes and information systems Text, Chapter 4 â€Å"Business Processes, Information Systems and Information† Pages 105-123. Nomadic FM on Business Process Complete the assignment in the Nomadic Field Manual before you come to class. FM Assignment due in class Review the BPML on page 110 Identify one or two key business process that your company will need to develop.What is the informa tion that will be required? How would you map one of these processes? SIS – Applying Process Thinking Understand how to improve the business processes of a small company Understand how to link business process improvement with information technology support Create a process map for your business Readings 1-888-Jungian Pegs. 133- up to â€Å"Possible Information Technology Solutions†, peg. 137. What are the business problems that Marcus King is facing? Bring to class a map of the major business processes that are described in the case.What does your process map reveal about the information problems that King is facing? SIS – Database I To understand what a database is To understand the difference between spreadsheets, databases and files To understand how businesses use database software to access critical information for managing all aspects of the business To explore how to construct a relational database Text, Chapter 6 â€Å"Foundations of Business Intellige nce: Databases and Information Management† pages 149-166. Be sure you can identify the following: a) Primary key(s) b) Relationships c) 1 and the many side d) Foreign Keys What is an entity?Understand the basics of tracking customers as they click through your website Understand how to measure the value of Internet advertising Understand different types of Internet advertising such as banner ads versus pay per click Text, peg. 239-250, Mended. Com confronts â€Å"Click-Through† Competition, What does the Advertiser want? (sales, leads, product awareness? ) What are the best metrics for measuring success? What specific consumer behaviors determine whether or not a business model produces the desired results? How would Heather Yates Justify buying impressions rather than click-through?What are her alternatives? What is the difference in value between a general interest site vs.. A niche site to a consumer? Which is the more defensible business model from an advertising st andpoint? What steps can Mended take to address emerging competitors? SIS I-Technology Infrastructure Define IT infrastructure and describe its components. Identify and describe the stages and technology drivers of IT infrastructure evolution. Assess contemporary computer hardware platform trends. Assess contemporary software platform trends. Text, Chapter 9 â€Å"IT Infrastructure and Emerging Technologies† pages 251-298What has been the business impact of declining costs for communications and integrated circuits? What kinds of infrastructure are needed to make the phone work? (Hint: it's more than Just the phone) Review the definition of cloud computing on page 245. What is the likely impact of this shift on the software industry? Microsoft? Apple? What is the likely impact on businesses? Consumers? SIS 2-Developing and Acquiring Information Systems Chapter 10, pages 299-347 Nomadic Field Manual Exercise on Systems Analysis and Design Complete the assignment in the Nomadic Field Manual before you come to class.

China in the Twentieth Century Essay

The Long March took place from October 1934 – October 1935. It meant that communism was not completely wiped out by the Kuomintang, that the people of China learnt about communism and supported the communists, that the Kuomintang got control of the south of china and most of the communists died from illness, exposure and Kuomintang attacks. At the time it was significant because otherwise all the communists would have been annihilated. Its effects were not seen immediately but in the short term still it allowed the communist army to gather their strength and troops and meant that when they tried to take back the country the ordinary people of China knew about communism and its benefits and would support them over the Kuomintang. This also meant that when the Japanese invaded in 1936 they were strong enough and had enough support to fight and defeat them. In the Long term however, after 1949 when China was declared communist the Long March did not really have many effects. It was used in propaganda, as an example of the strength and determination of the communists but other than that it had no direct effects. The Revolution of the Double Tenth in 1911 was another event in the history of China. As a short-term cause it meant that China was free of imperial rule and became a democracy. It also led to the setting up of the Kuomintang and freedom from the tyranny of the Emperors. However, like the Long March for ordinary people it did not make much difference. Instead of being oppressed by the Emperors they were still living in poverty, oppressed by the Warlords. In the long term the Revolution of the Double Tenth meant that different political parties could be formed, including the Kuomintang and the Chinese Communist Party. It opened the way for change so that different ruling parties could have the chance to make a difference to China and gave more importance to the ordinary people of China, not just the Aristocracy. In 1949 Communist China was formed. In the short term this was very significant. Whereas the Long March and the Revolution of the Double Tenth  did not really improve the lives of the ordinary people in the short term, this event lead quickly to land being divided between the peasants and the old cruel landlords being persecuted and punished. The communists helped the country recover from the damage the civil war had caused enough that extra food grown could be sold and government controlled factories could produce goods to sell in the first of Mao Zedong’s ‘5 Year Plan’s. However the communists wanted everyone to be equal so everyone was paid the same, whether they worked or not. This meant everyone did as little work as possible and were all equally poor instead of equally rich. Also, unlike the Long March and the Revolution of the Double Tenth where different political parties were set up or protected as part of the effects the creation of Communist China meant all other political parties were banned. The remaining Kuomintang members fled to the island of Taiwan. In the long term the creation of Communist China lead to the Cultural Revolution where schools and universities were shut down and teachers and intellectuals were persecuted. This was because Chairman Mao, the leader of Communist China decided that China was not communist enough, and that people were turning back to the old capitalist ways. It also meant that after Chairman Mao’s death in 1976 there was a struggle between different political leaders in the Chinese Communist Party to decide who would be the next leader of China. Deng Xiaoping won and became the next leader of China. Deng’s reforms from 1979-1980 had a lot of short-term effects like the formation of Communist China and were very significant in the short term. Deng restored the capitalist economy system, opened up China to foreign trade and allowed farmers to sell their food for private profit. He set up Special Economic Zones and developed them to improve industry, which lead to the growth of Chinese exports by 500% and introduced wage incentives to encourage workers to work hard. He also brought back universities so that young people could study again and overall modernised the whole of China. Nevertheless Deng kept many of the communist ideas, including the anti-democracy stand that lead to the Tiananmen Square demonstrations and  the massacre of the protesters by the army at Deng’s orders. In the long term China continues to modernise and expand economically in the capitalist way that Deng introduced. However it is still not that long since Deng’s reforms took place so we cannot be sure what other long-term effects they may have. I do believe that the Long March was significant in the history of China in the Twentieth Century because it meant the communists survived to defend the country against the Japanese and win back the country from the Kuomintang as well as gaining the support of the people to be able to do this. However I think that the most significant event in the history of China in the Twentieth Century was the formation of Communist China. This is because it affected everyone in the country, unlike the Long March and the Revolution of the Double Tenth which did not really effect the ordinary people in China or change their lives that much. Also it brought an end to the Civil war that led to a period of peace that meant modernisation and social and economic changes could occur, unlike the Long March and the Revolution of the Double Tenth, which lead to more Civil war and rebellions. It also had many short-term and long-term effects, more so than any of the other events I have covered here and lead to political, social and economic change, whereas Deng’s reforms only really lead to economic change and modernisation.