Feasibility Report of Women Boutique free essay sample

Plan for Fashion Boutique 1. 0 EXECUTIVE SUMMARY Overview Fashionista is an upscale womens clothing boutique that will open in October this year. Fashionistas clothing selections and exclusive personal style services include a detailed Style Assessment, which will ensure that our customers are well dressed. It is a woman-owned business, currently organized as a Sole Proprietorship. Clothing for stylish women It will carry Ready-to-Wear (RTW) designer and casual/contemporary apparel amp; accessories for women, and will be the exclusive U. S. ome of the German line, Herr Frau. Mission †¢ To provide women with a boutique that offers a comfortable and approachable environment †¢ To showcase quality, well-constructed fashions from prominent and cutting-edge designers †¢ To offer a variety of beautiful and high-end fashion accessories †¢ To help women learn what clothing and styles go best with their unique personalities †¢ To generate buzz and sales through top-no tch exclusive services Keys to Success 1. Having a good location in a high-shopping area 2. We will write a custom essay sample on Feasibility Report of Women Boutique or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Quality product and good relationships with vendors . Outstanding customer service Objectives †¢ To turn inventory five times and to maintain profit margins at 15-20% through close attention to expenses and cost of goods sold †¢ To drive awareness and build sales through mentions in both local print and the nations top fashion magazines 2. 0 COMPANY SUMMARY Fashionista is an upscale womens clothing boutique that intends to open at Prahladnagar in Ahmedabad in October. It carries beautiful designer labels for professional women, such as the sophisticated silhouettes of Herr Frau and luxurious handbags. Start-up Summary This business plan will be used for three purposes: †¢ To map out all the necessary components to create a successful and well-run boutique †¢ To provide management with a blueprint to follow †¢ To secure financing through private institutions and investors 3. 0 PRODUCTS amp; SERVICES Fashionista will carry Ready-to-Wear (RTW) designer diffusion lines and casual/contemporary apparel amp; accessories for women. It will also carry designer fashion accessories and various branded items. Apparel Lines †¢ Allen solley †¢ Van heusen †¢ Arrow Louis Philippe †¢ Wills lifestyle †¢ Park avenue †¢ Annabelle Accessories †¢ Local designer jewelry †¢ Handbags †¢ Belts, Scarves, Gloves, Hats 4. 0 MARKET ANALYSIS SUMMARY There are various economic forces that affect apparel retailers. Consumer confidence is the most important; people dont shop when they are not feeling good. Unemployment also has an effect, in that fewer wo men out in the workforce means less disposable income for high-end quality clothing. Thus, the large discounters are now working with top designers to bring designer apparel to the masses. Although they cant compete on quality, their continued development of the trend could have a direct impact on retailers who sell designer clothing during tough economic times. Market Segmentation Market Needs If you were to overhear women talking in a dressing room, you would more than likely hear them comment on something theyve tried on and question how they should wear it or what it will go with in their closet. Research has shown that women are stressed, have little time to shop, and would generally like help in determining the right clothes and styles to wear. Women between the ages of 25-54 are spending more money in apparel each year, there are sure to be some mistakes made in clothing choices. Television shows clearly speak to a womans confusion about what looks best on her. Even women who can afford a professional stylist feel helpless and often jokingly request that their stylist come to their home every morning to help them get dressed. Research indicates that women approach retail shopping uniquely by evaluating purchases based on product and company information derived from both personal and expert sources. The table below shows that out of the ten characteristics consumers find important in deciding where to shop, four were attributed to customer service. Kapra Boutique The Designer Shalwar Kameez Fashion House Search KB Designs Top of Form | | | powered by| | Bottom of Form This Blog | This Blog  Ã‚  Ã‚  |   | Top of Form Bottom of Form Pre-Feasibility Study BOUTIQUE (Women Designer Wear) INTRODUCTION 1. 1 Project Brief The pre-feasibility study focuses on the establishment of women designer wear Kapra Boutique including the operations of apparel designing, manufacturing, selling and marketing. The study has been designed to capture the dynamics of the Kapra Boutique industry, with its many components and possible strategic opportunities. 1. 2 Opportunity Rationale Clothing is a beautiful visual demonstration of the social and emotional needs of people wearing it. It also portrays in a clearly understood visual manner, what people of different cultures and styles want socially. Fashion, through times, has gone through so many rapid changes and bizarre extremes that it has examples of nearly every kind of clothing function. However, in a Kapra boutique business, the specifications and descriptions of the designs and clothes are so general that they can fit more than one costume, which actually are quite different in nature from each other and this is solely dependent on the taste of the people. The range of Pakistani dresses is remarkably wide, according to the vast cultures, geographical differences, purchasing capacities, influence of the western culture, and bewildering diversities of the ethnic groups. One has, therefore, to sift and isolate, and then relate and bring together, the ideas for creating various designs, which can fit in the context of the fashion in vogue and the culture in practice. In reference to Pakistan, the Kapra Boutique business is quite in vogue but has yet to be formalized. The market of this enterprise is quite scattered and unorganized. There are a few major players in Kapra Boutique business and these entrepreneurs have also taken an initiative based on their caprice and experience in the field of fashion design. However, there is a massive potential in this field, if one has the ability to design and market his/her products through introducing innovative designs both in stitching as well as the fabric sector. Furthermore, there is massive export potential in this sector, as the demand of Pakistani dresses, especially in countries like UAE, USA, and UK, is massive due to a high number of Pakistani expatriates who have settled in these countries. The Kapra Boutique business can also be expanded into a more profitable venture by providing stitching facilities to other Kapra boutiques, which do not own a stitching unit or are lacking this facility. . 3 Proposed Capacity The Kapra Boutique business capacity is greatly dependent on the market size and the number of potential clientele one can attract. Furthermore, the women fashion wear Pre-Feasibility Study Kapra Boutique (Women Designer Wear) Garments will be designed through a contracted designer and then stitched through in-house stitching uni t. On average, a designer can supply forty designs per month from which nearly twenty designs are selected on average. Approximately, total capacity of the defined unit with 5 stitching machines (basis on 8-10 hours shift) will be about 5001 dresses. The breakup of the total number of dresses will be as follows: Total designs selected by designer 20 Number of dresses in each design 5 Number of dresses in each size 5 Total Number of dresses 500 This production and sales capacity is estimated to be economically viable and justifies the capital as well as operational costs of the project. 1. 4 Total Project Cost The Kapra Boutique shop needs a total investment of about Rs. 1. 45 million. This includes a capital investment of Rs. 881,920 and a sum of Rs. 569,600 as working capital. CURRENT INDUSTRY STRUCTURE Currently, the Kapra boutique industry is relatively unorganized and is cattered in and around the posh areas of the metropolitan cities of Pakistan i. e. Lahore, Islamabad, Karachi, Peshawar, and Quetta. The Kapra boutiques in Peshawar and Quetta, mostly sell the traditional dresses having indigenous/local designs, whereas the ones in Lahore, Islamabad, and Karachi deal in fashion wear greatly influenced by the west and the loca l trends in vogue. As such, there is no exact detail available of the number of Kapra boutiques, especially in women wear, because there is no association or link between these enterprises. The reason being the business rivalries and the competitive structure of this industry. However, one can name a few major players in the business such as Indifference, Generation, Parahan, Nee Punhal, Bossini, Kapre Waghera, Maria B, Ninas, and some individual designer players like Beegees, Nilofar Shahid, Nadia Mistri, Amir Adnan, Shayan Malik, and Sahar Saigol. MARKETING The marketing of Kapra boutique follows the conventional marketing pattern which is dependent on selection of venue of the outlet/s and the product mix (designs and sizes), as well as the promotional strategy. Furthermore, the Kapra boutique owner has to marketing techniques like: †¢ Usage of print media i. e. rinting of posters and pamphlets as well as displaying it and distributing it at proper places †¢ Advertisement in print media i. e. newspapers and fashion magazines, etc. 1 This production also includes additional suits that will be prepared on orders/outsourcing/CMT (Cutting, Manufacturing and Trimming) per month in order to utilize the maximum capacity of the stitching unit. †¢ Usage of electronic media i. e. projection of the Kapra boutique in fashion programs, advertisement on television, and provision of dresses to various television plays and films. †¢ Event arrangement like fashion shows and photo-shoots. Usage of e-commerce i. e. launching of website and advertising on web. Moreover, in order to keep abreast with the emerging trends and client tastes, surveys regarding customer satisfaction/needs should be a regular feature of this project. As this project of Kapra Boutique deals in designer women wear, therefore the product mix will comprise of different styles of the female dresses in different sizes. Whereas, the styles will be Shalwar Kameez, Q-lots, Pajama Kameez, Frocks, Kurta, Peeshwaz, Party dresses, Casual Dresses and other prevalent dresses based on the market trends. The average sale price per dress is assumed to be Rs. 2,100. Apart from this, there is a vast export potential in this industry, which is evident from the export figures of 1998-99 (available from the data of Federal Bureau of Statistics-FBS). SITC2 Code Product Classification 2000 – 2001 Value (Rs. 000) 8422102 Suit women cotton not knitted 1,415,124 8422103 Suit women synthetic not knitted 501,917 8422104 Suit women (other textile material not knitted) 46,861 8422202 Ensembles women cotton not knitted 2,107 8424002 Dresses women not knitted 463,346 424003 Dresses women man made fiber not knitted 63,438 8424004 Dress women other textile not knitted 17,723 8424006 Shisha embroided dresses of cotton 286 8427006 Baluchi Kameez of Silk 27 Total 2,510,826 Source: Federal Bureau of Statistics Even these figures represent the formal export patterns of women dresses from Pakistan and are not representative of the export of these dresses taking place on informal level. Most of the wom en dresses prepared in Pakistan are exported to USA, UK, Germany, UAE, Saudi Arabia, France, Belgium, Netherlands, and South Africa. The end users of these dresses in foreign countries are mostly Pakistani and Indian women who have immigrated to these countries. RAW MATERIAL 4. 1 Raw Material The raw-material required for such sort of projects, would be as follows: †¢ Fabric: The fabric, which is the basic raw material requirement for a Kapra boutique and a major component of the cost, can be obtained from wholesale markets or from markets specializing in designer cloth at Faisalabad, Karachi, and Lahore. †¢ Accessories: Accessories such as buttons, laces, zippers, elastics, threads, needles, embroidery threads, glasses, etc. ill be procured from the local market at competitive rates. †¢ Labels, tags and packaging: Labels and tags can be obtained on order, as these serve as an identity for the Kapra boutique and are useful for promotion. PRODUCTION PROCESS FLOW 5. 1 Production Process Flow The process for converting fabric in designer wear garments follows the below mentioned sequence: †¢ Desig n: The initial process starts from the designing phase. Various patterns of clothing and the fashions in vogue, which also relate to the tastes of the concerned clientele, are designed. This is done by the contracted designer as he/she will provide the basic designs of which the fabric will be converted into the designer wear garment. On average, a designer is supposed to provide 40 designs per month or 100-120 designs per season i. e. three months. From these designs, approximately 50% of the designs are selected for further development of clothes. †¢ Pattern Making/Cutting: Based on the designs selected, patterns for cutting are developed and based on these patterns, fabric is cut, embroided, block printed, and processed accordingly3. Stitching: The cutting is then followed by stitching, which can either be done by the in-house stitching unit or by outsourcing it4. Labels are also attached to the apparels in this process. †¢ Finishing: The final phase is that of finishing, in which the garment will be checked for quality control and will cleaned (if required) for final presentation at the outlet. The garments will also be tagged for identification of siz es, prices, addresses, handling instructions, etc. 3 After cutting, the fabric is embroided and this is normally outsourced to any locally available commercial embroidery unit. In case of over-lock stitching, it will be done in-house. The stitching of buttonholes as well as elastic embedding will be outsourced. This will cost approximately @Rs. 5 per dress. Pre-Feasibility Study Kapra Boutique (Women Designer Wear) PREF-57/July, 2002/ Rev 01 Presentation/Market: Once the designer wear garment is ready after going through the above-mentioned process, it is presented at the outlet/shop for sale to the clientele. Designing Pattern Making/Cutting Stitching Market/Clientele Presentation Finishing HUMAN RESOURCE REQUIREMENTS The project of Kapra Boutique requires the following Human Resources/Staff: Positions Required Salary per Month Salary per Annum Chief Executive/Owner 1 30,000 360,000 Designer 1 15,000 180,000 Sales Girls 2 5,000 120,000 Production Supervisor/Cutting Master 1 8,000 96,000 Stitchers/Tailors5 5 6,000 360,000 Press/Iron Man/Finishing man 1 3,000 36,000 Office Boy 1 2,000 24,000 Total 12 1,176,000 MACHINERY/EQUIPMENT DETAILS The Kapra boutique will require a small in-house stitching unit. The cost of the stitching machinery will be as follows: Stitching Machinery 6 No. Rs/Unit Rs Single needle lock-stitch machine (Juki China) 4 20,000 80,000 Over-lock stitch machine (Juki China) 1 50,000 50,000 Accessories (Scissors, Cutting Board, Table, stools, carpet, etc. ) 50,000 50,000 Total 180,000 6 Though the prices here are given of the new machines but second hand machines are also widely available which can function properly and can reduce the project cost too. Furthermore, the following will also be required to setup a Kapra Boutique: Other Equipment No. Rs/Unit Rs Air-conditioner 1 30,000 30,000 Stereo System 1 23,000 23,000 Computer and Printer 1 35,000 35,000 Telephone amp; Fax 1 10,000 10,000 Credit Card Machine7 1 Total 98,000 PREMISES FOR SHOP AND STITCHING UNIT 8. 1 Recommended mode for renting a Shop It is recommended that the proposed location for the said enterprise be a posh area, where people have the buying capacity for women fashion wear. The size of the shop should be at least 800 Sq. ft i. e. 20 feet front and 40 feet depth. Furthermore, a small building will be required to establishing the stitching unit. One viable option is to rent a small house for this purpose. The shop will be obtained on rental basis, and the rent estimation for such a shop is Rs 30,000/month. According to the prevailing practice, six months rent as advance and three months rent as security would be required for renting the shop. It is assumed that security is a one-time expenditure, whereas pre-paid rent will only be given at the beginning, while establishing the Kapra boutique. After first six months, rent will be paid on monthly basis. The cost estimates for setting up the Kapra Boutique are as follows: Rs Security for renting shop/outlet (Rent @ Rs. 30,000 per month. 3 months rent as security) 90,000 Interior decoration (installing lighting, mannequins, hanging racks, mirrors, glass panes, cash counter, and ther decor, etc. ) 300,000 Security for renting a house for installing the stitching unit (Rent @ Rs. 6,000 per month) 9,000 Credit card machines are installed free of cost by the Bank on fulfilling the Bank requirements like having a Bank account, copy of registry or lease agreement of shop, etc. However, these requirements may vary from Bank to Bank. 8. 2 Infrastr ucture requirements The project will have the following infrastructure components: Infrastructure Requirements Sq. ft Main shop 600 Try Room 36 Small Store 100 Kitchen 64 Building for Stitching Unit 10 Marla House Pre-Feasibility Study Kapra Boutique (Women Designer Wear) PROJECT ECONOMICS 9. 1 Project Cost Description Cost (Rs. ) Machinery amp; equipment 278,000 Furniture amp; Fixture (Interior Decoration) 300,000 Security Deposits for Premises8 108,000 Pre-operating expenses Salaries9 98,000 Promotional Expenses 97,920 Total Capital Cost 881,920 Working Capital Raw material (Fabric amp; Accessories) 28,800 Accounts Receivable 108,800 Prepaid Rent (Kapra Boutique and Stitching Unit) 432,000 Total Working capital 569,600 Project Cost 1,451,520 9. 2 Project Returns Internal Rate of Return (IRR) 40. 18% Payback Period (Years) 3. 87 Net Present Value (NPV) 2,267,714 . 3 Financing Plan Financing Rs. Equity 50% 725,760 Debt 50% 725,760 8 Security Deposit for Kapra Boutique Rs. 90,000 (@Rs. 30,000 per month for three months), and for Stitching Unit Rs. 18,000 (@Rs. 6,000 per month for three months). 9 One month salary of staff Pre-Feasibility Study Kapra Boutique (Women Designer Wear) KEY SUCCESS FACTORS There are a number of factors, which contribute towar ds the success of a project. In case of the project of   Kapra Boutique, some of the Key Success Factors are as follows: †¢ Proper care while producing dresses should be adopted †¢ Proper Inventory management i. e. eeping minimum inventory as per past sales trends. †¢ The dress designs should be according to the emerging trends and fashions. †¢ Designing of dresses according to the consumer tastes/preferences gathered through consumer surveys. †¢ The location of the outlet should be properly selected and attractively decorated so as to target the clientele effectively. †¢ The customer satisfaction should be given due importance, because it is the customer satisfaction, which can increase the sales. Hence, excellent customer service should be provided. THREATS FOR THE BUSINESS †¢ Competitive Structure of the market The market of the Kapra boutiques is highly competitive, therefore if the entrepreneur is not well responsive to the tastes and response of the clientele as well as the fashions in vogue he/she may not be able to capitalize the opportunity properly. †¢ Pilferage in the designs The designs which a designer produce can be sold by the staff even before that design is launched and that can pose serious threat to the business because in the fashion industry it is the uniqueness of the design which matters. †¢ Selection of the wrong venue Selection of the wrong venue can be a major hurdle in achieving the desired business objectives. Selection of the wrong design If the designs are not selected according to the tastes of the clientele then it can be detrimental for the business, so the clientele taste should be properly tracked. †¢ Tax Improper documentation of the sales receipt record may lead to problems with Tax department. Pre-Feasibility Study Kapra Boutique (Women Desi gner Wear) FINANCIAL ANALYSIS 12. 1 Projected Income Statement Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Sales 3,264,000 3,698,112 4,189,961 4,747,226 5,378,607 6,093,961 6,904,458 7,822,751 8,863,177 10,041,980 Cost of Goods Sold Raw Material 576,000 639,936 710,969 789,886 877,564 974,973 1,083,195 1,203,430 1,337,011 1,485,419 Payroll P roduction Staff 672,000 719,040 769,373 823,229 880,855 942,515 1,008,491 1,079,085 1,154,621 1,235,445 Machine M aintenance 10,000 10,200 10,404 10,612 10,824 11,041 11,262 11,487 11,717 11,951 Embroidery amp; Accessories costs 300,000 333,300 370,296 411,399 457,064 509,830 564,164 626,787 696,360 773,656 Direct E lectricity 48,000 52,800 58,080 63,888 70,277 77,304 85,035 93,538 102,892 113,181 Total 1,606,000 1,755,276 1,919,122 2,099,015 2,296,584 2,515,663 2,752,147 3,014,327 3,302,601 3,619,652 Gross Profit 1,658,000 1,942,836 2,270,839 2,648,211 3,082,022 3,578,298 4,152,311 4,808,424 5,560,576 6,422,328 Operating Expenses Fixed Electricity 72,000 79,200 87,120 95,832 105,415 115,957 127,552 140,308 154,338 169,772 Payroll Administration 504,000 539,280 577,030 617,422 660,641 706,886 756,368 809,314 865,966 926,583 Shop amp; stiching house rent 432,000 453,600 476,2 80 500,094 525,099 551,354 578,921 607,867 638,261 670,174 Amortization pre Ops. Exp. 9,592 19,592 19,592 19,592 19,592 19,592 19,592 19,592 19,592 19,592 Telephone, Internet Charges 36,000 37,800 39,690 41,675 43,758 45,946 48,243 50,656 53,188 55,848 Promotional Expenses 97,920 55,472 62,849 71,208 80,679 91,409 103,567 117,341 132,948 150,630 Depreciation 57,800 57,800 57,800 57,800 57,800 57,800 57,800 57,800 57,800 57,800 Total 1,219,312 1,242,744 1,320,361 1,403,623 1,492,984 1,588,944 1,692,044 1,802,878 1,922,093 2,050,399 Operating P rofit 438,688 700,092 950,478 1,244,589 1,589,038 1,989,354 2,460,267 3,005,546 3,638,483 4,371,929 Non Operating Expenses Financial Charges 130,637 112,377 90,830 65,404 35,402 Running Finance Total 130,637 112,377 90,830 65,404 35,402 Profit before Tax 308,051 587,716 859,648 1,179,184 1,553,636 1,989,354 2,460,267 3,005,546 3,638,483 4,371,929 Tax 107,818 205,700 300,877 412,714 543,772 696,274 861,093 1,051,941 1,273,469 1,530,175 Profit after Tax 200,233 382,015 558,771 766,470 1,009,863 1,293,080 1,599,174 1,953,605 2,365,014 2,841,754 Opening R etained earnings 200,233 582,248 1,141,020 1,907,490 2,917,353 4,210,433 5,809,606 7,763,211 10,128,226 Retained earning beginning of year 200,233 582,248 1,141,020 1,907,490 2,917,353 4,210,433 5,809,606 7,763,211 10,128,226 12,969,979 PROJECTED INCOME STATEMENT Pre-Feasibility Study Kapra Boutique (Women Designer Wear) 12. 2 Projected Cash Flow Statement PROJECTED CASH FLOW STATEMENT Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Operating Activities Net Profit 2 00,233 382,015 558,771 766,470 1,009,863 1,293,080 1,599,174 1,953,605 2,365,014 2,841,754 Amortization of preoperational expenses 1 9,592 19,592 19,592 19,592 19,592 19,592 19,592 19,592 19,592 19,592 Security Deposit (108,000) Building Rent Expense 4 32,000 453,600 476,280 500,094 525,099 551,354 578,921 607,867 638,261 670,174 Building Rent Repayment (432,000) (453,600) (476,280) (500,094) (525,099) (551,354) (578,921) (607,867) (638,261) (670,174) Depreciation 5 7,800 57,800 57,800 57,800 57,800 57,800 57,800 57,800 57,800 57,800 Stock and inventory (28,800) (3,197) (3,552) (3,946) (4,384) (4,870) (5,411) (6,012) (6,679) (7,420) 74,271 Account Receivable (108,800) (14,470) (16,395) (18,575) (21,046) (23,845) (27,017) (30,610) (34,681) (39,293) 334,733 Account Payable 1 9,200 2,131 2,368 2,631 2,923 3,247 3,607 4,008 4,453 4,947 Cash provided by operations (677,600) 2 57,558 418,912 592,196 796,058 1,035,207 1,313,724 1,614,605 1,963,252 2,368,232 4,003,270 Financing Activities Share capital 7 25,760 Addition to Long Term Debt 7 25,760 Long Term Loan Repayment (101,445) (119,705) (141,252) (166,678) (196,680) Short Term Loan Repayment Cash Provided/Used for Financing Activities 1 ,451,520 (101,445) (119,705) (141,252) (166,678) (196,680) Investing Activities Capital Expenditure (773,920) Cash Used Provided by Investing Activities (773,920) Net Cash inflow/(outflow) 1 56,113 299,206 450,943 629,380 838,528 1,313,724 1,614,605 1,963,252 2,368,232 4,003,270 Cash Balance Brought forward 156,113 455,319 906,263 1,535,643 2,374,170 3,687,894 5,302,500 7,265,751 9,633,983 Cash Balance 1 56,113 455,319 906,263 1,535,643 2,374,170 3,687,894 5,302,500 7,265,751 9,633,983 13,637,253 Running Finance Cash Carried Forward 1 56,113 455,319 906,263 1,535,643 2,374,170 3,687,894 5,302,500 7,265,751 9,633,983 13,637,253 Pre-Feasibility Study Kapra Boutique (Women Designer Wear) PREF-57/July, 2002/ Rev 01 12. 3 Projected Balance Sheet PROJECTED BALANCE SHEET Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Current Assets Cash 1 56,113 4 55,319 9 06,263 1 ,535,643 2 ,374,170 3 ,687,894 5 ,302,500 7 ,265,751 9 ,633,983 13,637,253 Security Deposit 1 08,000 1 08,000 1 08,000 1 08,000 1 08,000 1 08,000 1 08,000 1 08,000 1 08,000 1 08,000 108,000 Stocks and Inventory 2 8,800 3 1,997 3 5,548 3 9,494 4 3,878 4 8,749 5 4,160 6 0,172 6 6,851 7 4,271 Prepaid Rent 4 32,000 4 53,600 4 76,280 5 00,094 5 25,099 5 51,354 5 78,921 6 07,867 6 38,261 6 70,174 Accounts Receivables 1 08,800 1 23,270 1 39,665 1 58,241 1 79,287 2 03,132 2 30,149 2 60,758 2 95,439 3 34,733 Total 6 77,600 8 72,980 1 ,214,813 1 ,712,092 2 ,391,907 3 ,285,405 4 ,659,124 6 ,339,297 8 ,374,302 10,821,161 1 3,745,253 Gross Fixed Assets Machinery amp; Equipment 5 78,000 5 78,000 5 78,000 5 78,000 5 78,000 5 78,000 5 78,000 5 78,000 5 78,000 5 78,000 578,000 Less: Accumalated Depriciation 5 7,800 1 15,600 1 73,400 2 31,200 2 89,000 3 46,800 4 04,600 4 62,400 5 20,200 578,000 Net Fixed Assets 5 78,000 5 20,200 4 62,400 4 04,600 3 46,800 2 89,000 2 31,200 1 73,400 1 15,600 5 7,800 Intangible Assets Pre-operational Expenses 1 95,920 1 76,328 1 56,736 1 37,144 1 17,552 9 7,960 7 8,368 5 8,776 3 9,184 1 9,592 Total 1 95,920 1 76,328 1 56,736 1 37,144 1 17,552 9 7,960 7 8,368 5 8,776 3 9,184 1 9,592 Total Assets 1 ,451,520 1 ,569,508 1 ,833,949 2 ,253,836 2 ,856,259 3 ,672,365 4 ,968,692 6 ,571,473 8 ,529,086 10,898,553 1 3,745,253 Liabilities Long Term Debt 7 25,760 6 24,315 5 04,610 3 63,357 1 96,680 (0) Short Term Debt Accounts Payable 1 9,200 2 1,331 2 3,699 2 6,330 2 9,252 3 2,499 3 6,107 4 0,114 4 4,567 49,514 Total 7 25,760 6 43,515 5 25,941 3 87,056 2 23,009 2 9,252 3 2,499 3 6,107 4 0,114 4 4,567 49,514 Equity Paid -up Capital 7 25,760 7 25,760 7 25,760 7 25,760 7 25,760 7 25,760 7 25,760 7 25,760 7 25,760 7 25,760 725,760 Retained Earnings 2 00,233 5 82,248 1 ,141,020 1 ,907,490 2 ,917,353 4 ,210,433 5 ,809,606 7 ,763,211 10,128,226 1 2,969,979 Total 7 25,760 9 25,993 1 ,308,008 1 ,866,780 2 ,633,250 3 ,643,113 4 ,936,193 6 ,535,366 8 ,488,971 10,853,986 1 3,695,739 Total Liabilities And Equity 1 ,451,520 1 ,569,508 1 ,833,949 2 ,253,836 2 ,856,259 3 ,672,365 4 ,968,692 6 ,571,473 8 ,529,086 10,898,553 1 3,745,253 Pre-Feasibility Study Kapra Boutique (Women Designer Wear) PREF-57/July, 2002/ Rev 01 KEY ASSUMPTIONS 13. 1 Production Assumptions Number of Stitching Machines 5 Production Capacity (No. of dresses per month) 500 Capacity Utilization for the first year (No. of dresses per month) 200 Self Production (% of total production) 60% Dresses manufactured on CMT basis (% of total production) 40% Monthly self production (Year 1) 120 Monthly Dresses manufactured on CMT basis (Year 1) 80 13. 2 Cost Assumptions Initial (Year 1) Average cost per dress (Rs. ) Material amp; Fabrics 400 Accessories 25 Embroidery Cost 100 Direct Labor Cost 280 Direct Electricity Cost 20 Machine Maintenance Cost 4 Admin amp; Rent expenses amp; promotional expenses 446 Fixed electricity 30 Average unit cost per dress (Rs. ) 1,305 13. 3 Sales Assumptions No. of dresses sold per month(Year 1) 120 Average unit price per dress (Rs. ) 2,100 Average Monthly Sales through retail outlet (Rs. ) 252,000 No. of dresses sold on CMT basis per month(Year 1) 80 Average unit price per dress on CMT basis (Rs. ) 250 Average Monthly Sales through outsourcing(Rs. ) 20,000 Total Average Monthly Sales (Year 1) (Rs. ) 272,000 Sale growth rate (Units) 10% Sale growth rate (price) 3% Pre-Feasibility Study Kapra Boutique (Women Designer Wear) PREF-57/July, 2002/ Rev 01 13. 4 Operating Assumptions Hours operational per day 8 Days operational per month (Production) 25 Days operational per month (Boutique) 25 13. 5 Cash flow Assumptions Account Payable Cycle (Days) 10 Account Receivable Cycle (Days) 10 Raw Material Inventory (Days) 15 13. 6 Expense Assumptions Initial Promotional Expenses (Year 1) (%age of expected sales) 3% Promotion Expenses after Year 1 (% of expected sales) 1. 5% Machine Maintenance per annum Rs. 10,000 Direct Electricity per month (Year 1) 4,000 Fixed Electricity per month (Year 1) 6,000 Telephone and Internet charges (Year 1) 3,000 Raw Material Price Growth rate 1% Payroll growth rate 7% Machine Maintenance growth rate 2% Direct electricity growth rate 10% Fixed electricity growth rate 10% Rent growth rate 5% Telephone and Internet charges growth rate 5% Depreciation Method Straight Line 13. 7 Financial Assumptions Project Life 10 Years Debt: Equity 50:50 Interest Rate on Long Term Debt 18% Interest Rate on Short Term Debt 18% Debt Tenure 5 Years Debt Payment per year 1 Discount Rate 18% Small and Medium Enterprise Development Authority Government of Pakistan www. smeda. org. pk HEAD OFFICE Waheed Trade Complex, 1st Floor , 36-Commercial Zone, Phase III, Sector XX, Khayaban-e-Iqbal, DHA Lahore Tel: (042) 111-111-456, Fax: (042) 5896619, 5899756 [emailprotected] org. pk REGIONAL OFFICE PUNJAB REGIONAL OFFICE SINDH REGIONAL OFFICE NWFP REGIONAL OFFICE BALOCHISTAN Waheed Trade Complex, 1st Floor, 36-Commercial Zone, Phase III, Sector XX, Khayaban-e-Iqbal, DHA Lahore. Tel: (042) 111-111-456 Fax: (042) 5896619, 5899756 [emailprotected] org. pk 5TH Floor, Bahria Complex II, M. T. Khan Road, Karachi. Tel: (021) 111-111-456 Fax: (021) 5610572 [emailprotected] org. pk Ground Floor State Life Building The Mall, Peshawar. Tel: (091) 9213046-47 Fax: (091) 286908 [emailprotected] org. pk Bungalow No. 15-A Chaman Housing Scheme Airport Road, Quetta. Tel: (081) 831623, 831702 Fax: (081) 831922 [emailprotected] org. pk Pre-Feasibility Study Kapra Boutique (Women Designer Wear) DISCL AIMER The purpose and scope of this information memorandum is to introduce the subject matter and provide a general idea and information on the said area. All the material included in this document is based on data/information gathered from various sources and is based on certain assumptions. Although, ue care and diligence has been taken to compile this document, the contained information may vary due to any change in any of the concerned factors, and the actual results may differ substantially from the presented information. SMEDA does not assume any liability for any financial or other loss resulting from this memorandum in consequence of undertaking this activity. Therefore, the content of this memorandum should not be relied upon for making any decision, investment or otherwise. The prospective user of this memorandum is encouraged to carry out his/her own due diligence and gather any information he/she considers necessary for making an informed decision. The content of the informatio n memorandum does not bind SMEDA in any legal or other form. DOCUMENT CONTROL Document No. PREF-57

Divorce Hurts Children

Divorce Hurts Children Free Online Research Papers Over half of couples seeking a divorce still have kids living at home. Some parents don’t realize when they file for a divorce the damage and effect that it will have on their children. Divorce hurts children no matter what their circumstance is. Parents start fighting in front of the kids over who did what and how stupid they were for getting married in the first place. Then they go to court to hear the judge make the decision of who gets what from their divorce. But the hardest part of the divorce for children, I think, is seeing their parents fighting over who gets custody of them. Firstly, during the divorce the parents are really determined to find out who did what. They try to shift the blame on each other for whatever the other parent did to cause their family to break-up. Whatever reason, the parent tries to give an explanation of why they are divorcing the other parent. 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So when you are thinking about getting a divorce, think about all the effects that it will have not only to you but your children as well. How bad or how well children deal with the divorce depends on how the situation is handled. Secondly, they go to court so the judge can decide which parent gets what in the divorce proceedings. When the kids see parents divide their belongings they sometimes feel abandon by the other parent; especially, if that parent has to move away to another city. They might have to move out of the very same house they grew-up in, so the custodial parent can support all of them. All the children can probably think of is their life they once had is gone forever. My children and I had to move away from their dad, because the city that we lived in didn’t have a job for me there. At first, It was hard for the children to leave their dad behind, because they went everywhere with him. They had to get adjusted to a new town as well as their new school. The only place I could get a job to coincide with their hours was at the school cafeteria. Luckily, my mother worked for the school and helped me get on with them as a dishwasher. Nonetheless, we all made it through but it was real har d on them until they got use to the idea of not having their dad around as much. All children ever want is for their parents to get along with one another. Real life is not always a perfect picture that we imagine, it has its ups and downs. Thirdly, when parents start fighting over the children is like a tug of war instead of using rope they use their children. They use their children as levers or pawns to go against one another in the divorce. There lives and routines are disrupted by their parents divorce. It is mandatory for the children to go on there visitation with the other parent, so they have to go no matter what the situation is. In my situation, he got the kids two months out of the summer because we lived so far away from him. 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Histroy - Essay Example Etruscans played a major role in the development of the Roman state most importantly increasing the trade between the Romans and other societies especially the Greek thereby creating wealth in the state. The group’s seers also taught the Romans how to interpret omens and also enriched the Roman architecture by giving them a distinctive temple architecture that was unique compared to that of the Greeks. The Roman and the Etruscan architecture therefore had better and much deeper porticos and pronounced porches which were supported by colonnades symbolic of their advanced civilization at the time, (Levack, Muir and Veldman 139). The early republic, established by about 600 B.C.E had a well organized social and political system. By this time, they had begun the construction of public buildings which included the first senate house where elders regularly assembled to discuss community matters and the temples, (Levack, Muir and Veldman 139). The republic established at about 500 B.C.E abolished the rule of kingship and establish a state in which political power was wielded by the people and their representatives. The republic had a military and a voting system in which only free male city inhabitants who could afford their weapons were allowed to vote in the citizen assembly. The assembly was responsible for making the important public decisions in consultation with the senate and although poor men could fight to defend the state, they were not allowed to vote, (Levack, Muir and Veldman 139). The assembly was constituted by Rome’s male citizens otherwise known as the Centuriate Assembly and had the responsibility of managing the city’s judicial, legislative and administrative affairs. Two chief executives known as the consuls were elected each year and given the authority to administer the law, although their decisions could be appealed in the assembly, (Levack, Muir and Veldman 139). The senate comprised of about

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Mathematics Coursework Essay Example | Topics and Well Written Essays - 2500 words

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External Environment Factors In Human Resources Commerce Essay

External Environment Factors In Human Resources Commerce Essay Human Resource Management according to Laurie J. Mullins (2007) illustrates as the involvement of management decisions and practices that directly influence the people or human resource, who work for the organisation. This could be seen as the aspect of developing people to get the best out of them as well as improving their potential for better performance at the work place. It could be said as well that it is a design, implementation and maintaining strategies to manage people for a proper business performance which also include the development policy and it also contributes to the evaluation of the people operating in the business or organisation. A more detailed definition was given by Torrington et al. In 1995 remains unchanged today and it states, Human Resource Management is a series of activities which enables working people and the organisation and it also uses their skills to agree about the objectives and nature of their working relationship and also ensure that the agreement which was made by the both practice is fulfilled. Human Resource as it is seen is said to be the most important aspect of any existing organisation and it has a clear objectives that has to be followed in other to get an expected goals set out for the organisation. This is also a means of motivating the people working in an organisation by seeing to their needs as; motivation, responses to grievances, training, recruitment and selection. To mention but a few at this time, more will be analysed as the study of HRM continues in this assignment. The activities should be clearly stated in order to achieve an expected goal as earlier stated. There is also a hierarchy that needs to be followed which are Managers, Supervisors and Operations. This could be seen as the levels of which the activities of any organisation are carried out with its policies. As this assignment continues in the subsequent pages, the role HR plays taking into consideration the changes in the external environment and how it will help organisation gain competitive advantage. External Environmental Factors To develop and implement effective human resource strategies, you must first understand the environment context in which human resource operates. The external environmental factors i.e. the STEP factors outlined below can have both positive and negative effects on this business. Neglecting the external environment can have devastating effects on an organization. Entire civilizations have vanished for failing to address external environmental factors and the need to adapt in an ever-changing environment. The most important part of HR planning regarding the external environment is environmental scanning, a means to study the environmental climate to identify opportunity or potential dangers to an organization Jackson and Mathis, (2008). As we move into the next century, the necessity to adapt, change, and update will be more important than in the past. Political environment-: The administrative and legal environment in a country provides a framework within which an organization operates. In some countries this environment is very restrictive and has significant impact on all aspects of the organization; in other countries the administrative/legal context is more permissive. Understanding the administrative/legal environment is essential to determining if organizational change can take place. The administrative context within which the organization operates may be shaped by a unique combination of forces, including international, governmental, nongovernmental policy, legislative, regulatory, and legal frameworks. An organization is affected by the policy or regulatory context that gave rise to it. This includes specific laws and regulations that support or inhibit the institutions development. There are a number of reasons why the legal environment is important to any business, According to (Brassington and Pettitt (2006) there are three main forces within the political and legal environment ie national, local government and EU and various regulatory bodies. These forces are important and necessary because the problem with self- regulation is that its creates tension between what is socially desirable and what those in the industry may consider to restrict commerce improperly. Organizations have to exist and operate according to the laws the societies within which they do business and thus in addition to the more general laws of contract and commerce, product have to conform to safety laws, patents protect innovation. EXAMPLE 1. UK GOVERNMENT INCREASE RETIREMENT AGE THE UK government increased the retirement age of male workforces from 65-70 years. It will deprive organisation from employing fresh blood, but HR can put up a back-up plan like voluntary retirement and early retirement programme. This measure will also help when company is facing redundancy in other to minimise the negative effect on organization. EXAMPLE 2. EUROPEAN POLICIES ON AGRICULTURE AND REGULATION RELATING TO COMMERCIAL FISHING. New employment legislation carries implication for organisation, e.g. the rules that outlaw ageism'(introduced in 2006); for a wider overseas trading context, international agreed sanction may curtail, or even outlaw, the trading of companies in one country with companies in another, especially if the latter country is said to be involved in terrorism or human rights abuses. Recent examples include the way in which the Saudi Arabian government has applied pressure to Britain to cease its investigations into allegations of corruption by British Aerospace in a securing of defence contracts, and the widespread disapproval of the child labour practices endemic in some part of the world. Economic environment Economic changes are concerned with the influence of regional, national and international economic conditions upon the fortunes of large organisations. Sometimes the economy is optimistic and in a state of boom and plenty, unemployment is low, industrial and high-street spending are high and property value soar. At other times the economy dips and the highs just mentioned go into reverse. Organisations have to adjust to alternative peaking and dipping of the economy, and internally and must prepare themselves for these in evitable situations. When the organisation context is global, on the other hand, the influence of economic factors is much more complicated, because if one country or region is experiencing a period of prosperity, it is quite likely that in another part of the world there is a recession. Whether the organisations are literally global or not, large or small, they are not immune to the consequences of globalisation: according to HR specialists must keep an eye on thes e economic pressures and seek where possible to minimise the negative impact and seize the advantages when they occur. When organisations expand during a period of prosperity, for instance, there are usually staff shortages, especially of rare technical skills; conversely, if organisation over- reach themselves they may have to close facilities, make people redundant, or shift some of their operations to other part of the world where are lower (e.g. take customer services and IT to India or China). EXAMPLE 3. BRITISH AIRWAYS UNION AND VIRGIN AIRLINE UNION As seen in the BBC news few months ago Virgin airline HR manager was able to put a strong argument down for the rationale for the job cut and hours reduction of the employees due to economic downturn and promise to reverse the decision as soon as thing improve. In the case of British Airways the argument was not that strong and was not acceptable, that has led to series of strikes action by the employees and this development had cost British Airway to loss millions of pound. Social and cultural environment-: it is very important to consider changes such as population growth, movement and age distribution, as well as changes in cultural values and social trends such as family size and social behaviour. Factors to consider might include consumer life styles, education, and religion. Social and cultural forces at local, national, and often regional levels have profound influence on the way organizations conduct their work and on what they value in terms of outcomes and effects. For example, the mores of an indigenous culture have a bearing on the work ethic and on the way in which people relate to one another. Undoubtedly, the most profound cultural dimension is language. EXAMPLE OF HOW SOCIAL CULTURAL AFFECTS SAINSBURYS In Sainsbury current trends indicate that British customers have moved towards one-stop and bulk shopping, which is due to a variety of social changes. sainsburys have, therefore, increased the amount of non-food items available for sale. Demographic changes such as the aging population, an increase in female workers and a decline in home meal preparation mean that UK retailers are also focusing on added-value products and services. In addition, the focus is now towards; the own-label share of the business mix, the supply chain and other operational improvements, which can drive costs out of the business. National retailers are increasingly reticent to take on new suppliers (Clarke, Bennison and Guy,1994; Datamonitor Report, 2003). The type of goods and services demanded by consumers is a function of their social conditioning and their consequent attitudes and beliefs. Consumers are becoming more and more aware of health issues, and their attitudes towards food are constantly changing. One example of sainsburys adapting its product mix is to accommodate an increased demand for organic products. The company was also the first to allow customers to pay in cheques and cash at the checkout. Technology environment-: the technology environment includes the level of advancement in technical knowledge and equipment and rate of development and application. At the same time the business have to look at the nature of their products and cost effectiveness as well as their performance in relation to competition. Factors might include new technology processes, energy saving techniques, better equipments, new product development, new materials and substitutes for existing materials.New approaches to doing new and old things, and tackling new and old problems do not necessarily involve technical factors, however, technological factors are vital for competitive advantage, and are a major driver of change and efficiency. Technological; factors can for example lower barriers to entry, reduce minimum efficient production levels, and influence outsourcing decisions. New technology is changing the way business operates. http://www.ivoryresearch.com/sample5.php EXAMPLE OF HOW TECHNOLOGY HAS POSITIVE IMPACT ON TESCO In tesco technology is a major macro-environmental variable which has influenced the development of many of the Tesco products. The new technologies benefit both customers and the company: customer satisfaction rises because goods are readily available, services can become more personalised and shopping more convenient. The launch of the Efficient Consumer Response (ECR) initiative provided the shift that is now apparent in the management of food supply chains (Datamonitor Report, 2003). Tesco stores utilise the following technologies: Wireless devices Intelligent scale Electronic shelf labelling Self check-out machine Radio Frequency Identification (RFID). The adoption of Electronic Point of Sale (EPoS), Electronic Funds Transfer Systems (EFTPoS) and electronic scanners have greatly improved the efficiency of distribution and stocking activities in tesco, with needs being communicated almost in real time to the supplier (Finch, 2004). THE USE OF HRM PRACTICES HRM practices as expected in this assignment can be viewed as the concerns of every manager in any existing organisation. It is seen as a modern and highly competitive times which proves to be just one successful way out for an organisation most times it has to deal with human resource issues. The need for people in any organisation is a very important aspect because without people in the organisation, there will be no work done. Julie Beardwell and Tim Claydon(2007) In HRM practice the consideration of people, performance, enlightenment, progress and commitment is expected for a better performance. For a better performance these points listed below will be considered: Derek et al (2002) HRM strategy Recruitment Selection Organisational structure Training / Development Rewards at work HRM strategy as seen with these authors Beardwell Holden (2001) Human Resource Management in explanation suggests that a strategy is seen as a defining feature for HRM as it emerged in the 1980s. It has come to play a role in planning of organisations not just the literature aspect but also in practitioner activity as well. Two strategic approaches were mentioned that has gone a long way to enhance performance in HRM and are listed below and an additional one that is needed in the strategy as well. Macro strategic issues and locations within the organisational structure Better recruitment and selection Job design The macro-strategic issues and locations within the organisational structure is been said to be an issue to be considered and put in place in other to yield an expected result. As the case study of this assignment has specified that one of the importance of HRMP are identified to be the organisational structure, this is to an extent a fact because if the organisational structure is not in place then there will always be matters arising from this aspect all the time. This is said to have emerged in a contemporary explanation for HRMs strategic positioning in the use business focus. HRM is expected to link up with this to illustrate the range of organisational activates, looking at the example of the NHS. EXAMPLE 4 NATIONAL HEALTH SERVICES (NHS) An illustration was given on how the use of HRM strategy has helped the management in the NHS to achieve a reasonable goal. It shows a major factor that HRM practise has achieved by stimulating a closer linkage by the realisation that variability of treatment rates between different hospitals may be as much to do with the management of the clinical personnel as with their access to medical technology. With this the health service provides an excellent example of the strategic positioning of HRM. EMPLOYEE INVOLVEMENT AND RELATIONS The use of the employee involvement and relations is a very important aspect to be considered and involved in any organisation because it makes the employee feel involved and increases the restricted manner a way of addressing some individual and collective aspects of employment relations in the workplace. Looking at this aspect, Bratton Gold (2007) interprets this that it denotes an assortment of employer and government initiates for improving a two way communication in the organisation between employee and management and this is to engage employee either directly or indirectly in decision-making in matters that affect them, for protecting employee rights for securing employee compliance with management rules through disciplinary action. Employee relationsFOUR IMPORTANT DIMENTION OF EMPLOYEE RELATIONS Employee rights Employee discipline Employee involvement Employee communication Source: John Bratton Jeff Gold (2007) Human Resource Management (Theory and Practice) JOB DESIGHN Job design can also be used as HRM strategy. According to Beardwell Holden (2001) it is the product of management initiative. This also has now become a contested terrain, the contingent product of what some call a structured antagonism (Edwards, 1986) between capital and labour. This brings up the study of human relations at work as a way of thinking about how jobs could be designed to secure some accommodation between the need of employees. Mayo, Roethlisberger and Dickson, the UK-based studies emanating from the Tavistock Institute, and the various movements addressing the quality of working life, arose in response to the perceived failures of Taylorism. This is seen as a change and moving things from one place to another and also gains commitment to change. Culture is said to develop over a period of time and not to be imposed and it is likely to emerge from a conflict of values and beliefs. It has been proven that HRM has been embraced by many working within the theory and practice of job (re) design is still founded on the prediction and promise that individuals need to be provided with stimulating and enriched jobs, which tap those intellectual and cognitive domains left dormant by the traditions of organisation and management. This will encourage them to perform far more varied and skilled jobs. EXAMPLE 5 UK JOBS AT RISK AFTER US CUTS In September 11, 2008 it was reported that more than 11,000 British jobs could be at risk after the Defence of US Department cancelled a contest bidding job worth of a  £20bn for a fleet of new air refuelling tankers. This could be seen as one of the practices of HRM in an organisation, getting information and finding a solution to it before it gets out of hand or have an adverse effect on the organisation. Recruitment according to humanresources.about.com is the process of finding candidates, reviewing applicant credentials, screening potential employees. Finding those candidates or employees as stated that will fit the purpose of the organisation. To achieve an effective result of this exercise getting those employees who are skilled, experienced and good fit with the organisation as stated, also those who will be loyal to the organisation should be giving a consideration by using the preferred method. There are several methods of recruitment which are social network, job center plus, newpapers, employee referral scheme, search consultants, commercial job boards etc. These few mentioned are methods of recruitment and most times it has turned out to be the best option or medium of recruitment. Using the social network could be either good or bad because most people not knowing using their pictures and slangs to portray them selves could be rejected by such acts without them knowing. In recruitment there has to be a consideration of the individuals that are being recruited to see how the performance can be and development as well as expected in the human resource cycle. The means of employing and managing people includes a trial of techniques stretching from job analysis through selection, pay, appraisal, training and so on Peter Boxall John Purcell (2003). EXAMPLE 6 A HIRED CRIMINAL AS POLICE CONSTABLE As seen in the case of Metro in August 13, 2004 the case revealed how this fellow was employed and has been working with the Scotland Yard police force. He lied about his past and was given the position of patrol officer to go through the streets of Belgravia, West London. As the case shows he faced dismissal and has been taken away from the street till his case will be finalised. These are responsibilities of HRM to carry out some checks in terms of recruitment and selection. EXAMPLE 7 THE M16 RECRUITMENT ON FACEBOOK This social network site revealed by Metro, September 29, 2008 began operation in 2006; they were mainly using radio and newspaper adverts. They now use face book to recruit secret agents as part of its drive to find operational officers and the aim was specified by the Foreign officer was to reach a wide variety of people, it also targets pools of talented representatives of British society. Most people have decided to use this site as fun and time keeping network and will be reminded at a time like this that it could ruin or benefit them to a greater height. It has also resulted to face book sacking of an employee as stated in one of the newspapers, the employee forgot that the manager is one of his friends on face book and was telling another friend on how she hate her job and the Manager as well and called him a name pervy. As a result of this act, she was sacked. Every one should be careful the way they behave outside work place because any thing can lead to a bad outcome if car e is not taking at the work place. EXAMPLE 8 HOLIDAY INN BOSS THAT QUITS OVER CV LIE BY JAYNE ATHERTON (2008) This was an issue that has brought to light that most people fake their c vs. no matter the level. Just at the point where this fellow Patrick Imbardelli will join the board of directors he was discovered to have lied about his qualifications and ha admitted it as well by resigning immediately this was discovered. Though he was appreciated in the company and has impacted a lot in the organisation according to the report, it still did not erase the fact that he lied and claimed to have got the qualifications hat was not anywhere to be found. These issues should be taking a serious area of concentration in recruitment and checks should also be carried out SELECTION Selection after a careful thinking on how the recruitment method has gone through, the consideration of selecting those who have the potential of doing the job as expected and can fit in the culture of the organisation. This will be considered through the behavioural and coordinating style of the individual who will be selected. Selection according to Heery Noon (2001).pg 320 explains that, it is the process of assessing job applicants using one of a variety of methods with the purpose of finding the most suitable person for the organisation. Arguments have been made according to D. Nickson (2007) that most times that the selection of staffs should be seen as an important aspect of HRM practise in organisations and needs to be considered effective if applicable. The use of various selection methods should be considered so as to get it the first time round before the go on cost problem by training more than required. He stated that the selection process could be two aspects namely The organisation have the power in the process of selection The selection criteria It has been stated that every organisation have the power in the selection process and to an extent this is true because, the rules as in policy of the organisation has to be strictly followed and if the individual cannot comply with it , then they do not get the job. The selection criteria is also very important because the person involved has to be fit for the job and job interaction is also to be put in consideration. The ability to work in teams will also be examined because it will go a long way to help. In most organisations team work has been considered as a vital aspect and has brought about job efficiency in most organisations. Methods of selection could be: Interview, the most popular Psychometric testing Presentation Assessment centre Telephone screening Application form Self assessment These methods mentioned above will be profitable for all organisations if applicable and it will be considered successful and consideration on fairness on candidates, cost effective, user friendly, and acceptable to both organisations as well. Must be reliable and valid EXAMPLE 9- THE USE OF ASSESSMENT CENTRES BY EASY JET In this case study, it was stated that in (2002) as a major airline, easy jet is concerned in getting it right at the stage of recruitment especially pilots, and it is said to be one of the companies most expensive resources in terms of salary, training and career development. This was introduced in 1999 and has now been extended to the recruitment of cabin crew and call centre employees. In this study the pilots face a lot of challenges and help them to cope under pressure, ability to adhere to standard and technical knowledge. They are also accessed in leadership and decision-making criteria. In HRM practice recruitment and selection is been considered as an important aspect because that is the means of getting those who are fit and qualified and can also help the organisation in profiting and expanding which leads to competitive advantage against competitors. ORGANISATINAL STRUCTURE According to J Mullins (2002) Organisational structure is the pattern of relationships among positions in the organisation and also members. The structure could be seen as a means of creating a command and a framework of how activities of the organisation can be planned, organised, and direct and controlled. The structure is said to define tasks and responsibilities in the organisation as well as work roles, relationship and channels of communication. This is very important in every organisation because the task, responsibility and authority will be clearly seen for a proper work guide and environment. The need for organisational structure review should always be a paramount thing in the organisation to ensure growth and development amongst employees. EXAMPLE 10 British Gas by Richard V. Giodano, Chairman British Gas plc. The decision taken by the government to introduce competition in the entire gas market in Great Britain has stimulated a rapid change in structure and regulation of the gas industry. The new systems and business practices had to be designed and implemented throughout our organisation and cultures and values which served the company well in the past and had to adapt to the company. This is most times important for every organisation because it will specify the task and also reveal the responsibilities and will also monitor the activities, give accountability and it also provides the criteria for structural effectiveness. Structure, thought is not an end in itself but a means of improving organisational performance. TRAINING / DEVELOPMENT A four-stage training model by John Bratton Jeff Gold (2007) Identify training needs and specify objectives Design activities Implement activities Evaluate activities Training with regards to Armstrong (2009) is the use of systematic and planned instruction activities to promote learning. The approach can be summarized in the phase learner-based training. This he said is one of several responses an organisation can undertake to promote learning. As Reynolds (2004) points out, training has a complementary role to play in accelerating learning. It should be reserved for situations that justify a more directed, expert-led approach rather than viewing it as a comprehensive and all- pervasive people development solution. The illustration also suggested that the conventional training model has a tendency to emphasise subject-specific knowledge, rather than trying to build core learning ability. Training as it is seen has a great impact in the organisation and the staffs that is trained is always efficient in their job and performance. EFFECTIVE TRAINING PRACTICES The effective training practice is seen to be using the systematic approached defined above with an emphasis on skills of analysis. In terms of the behaviour required, it should be clearly as a result of training and can be explained as on completing this training the participant will be able to identify the expected behaviour and provide the basis for evaluation, which is an essential element in the achievement of successful training. Types of training given by Armstrong (2009) are listed below: Personal skills Training in organisation practices e.g., induction, health and safety, performance management, equal opportunity or managing diversity policy and practice IT skills Supervisors story Manual skills, including modern apprenticeship Management training Interpersonal skills, e.g. leadership, team-building, group dynamics, neuro-linguistic programmes In training and development, it is to an extent a way of developing an individual for a better fit in the organisation. It an employee is trained such individual is meant to develop in several area both practical and theory. Personal development should be seen as carrying out a planning by individual with guidance, encouragement and help from their managers as required. Training and development with Nickson (2007) now seek to emphasize adaptability, flexibility and continuous development to ensure that organisations can survive and compete in an ever more competitive environment. Training and development is not just for organisation but also for lifelong learning for individuals as well. Increasingly in the UK in the 1980s and 2990 there was an emerging consensus from government, policy makers and practitioners that training should be encouraged within organisations for greater good of the importance of training and the need to encourage it to foster an effectiveness in the organisation. EXAMPLE 11 DELCO-REMY COMPANY LTD Delco-Remy trained its employees in participative management,it succeeded in differentiating itself from all competitors in the eyes of Honda and others. The successes of this training and resultant competitive advantage is described by Delcos Keith W. Wander: EXAMPLE 12. MERCEDES MOTORS has trained mechanics in service garages (their servicers)throughout the United States in order that Mercedes can offer 24-lourservicing anywhere in the United States. EXAMPLE 13. NISSAN MOTORS AND HONDA MOTORS Offer extensive training programs to their parts suppliers in order to enhance the quality of their products (both them as well as the suppliers). EXAMPLE 14.McDonalds McDonalds uses its intensive training program at Hamburger University to ensure. that its franchisees or distributors run as efficiently as possible. Although training is also done in order to attain consistent quality, its competitive advantage from training is attained from a cost/efficiency thrust. Offers extensive training to their franchise owners (i e their distributors/servicers). IMPROVING TRAINING AT PONTIS This company is a British company that has a number of holiday centres which are catering primarily for families. Majority of their workers are seasonal and they all work for a short period of time. Despite the high turnover of staff that they always have the opportunity to improve and no matter how short they stay with the company. As a result the drawing of the lip guidelines the company now has a structure which means that all employees have the opportunity to a personal development file with job description and aims, access to NVQs, access to funding for vocational training, assistance with professional equalisations and assessment of aims and goals and help achieving them. EXAMPLE 15 INVESTING IN PEOPLE AT WHAT COST? AMANDA Scott, the then General Manager of the Copthorne Hotel in Glasgow, suggests that in many respects lip embodied what any good manager should be doing investing in their people. A lot of criticism was also mentioned. Most companies who have attained this lip standard often already got goo HR system and procedures in place so gaining the award may simply be nothing more than a badging process. This points out that the costly nature of lip accreditation could be particularly important for smaller companies who predominate in tourism and hospitality. The CIPD has come up with the total cost of  £5000- £15000 depending on the size of the organisation and how much co

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Hypnosis Hypnosis is like guided daydreaming, a form of relaxed concentration. What is relaxed is first, the body and second, the conscious part of the mind. Hypnosis can be helpful at any age. Getting a good night's sleep, or conquering a phobia, are just two of the benefits you can bring to yourself with hypnosis, whereas other benefits include controlling pain, dealing with disease, positive idea about illness or serous diseases, reduction of medications, getting a good night’s sleep, overcoming guilt, resisting disturbing memories, improving relationships with family members and those around you are some of the benefits and positive uses of Hypnosis. Hypnosis has also been defined as a form of conditioning. A person learns, through direct experience or the media, how to behave 'hypnotized.' Another way to see hypnosis as something learned is to assert that a person becomes conditioned to a word stimulus such as "Relax." Once having allowed himself to relax, the client is thereafter conditioned to repeat the experience of relaxing upon hearing the stimulus-word. Yet another definition of hypnosis, one that has wide support among researchers, is that it is a form of dissociation. That is, that in some as yet unexplained way, the mental functioning of a person is compartmentalized and one part can be isolated from the others. The art and science of hypnosis is at once both old and new. Old, because it was used in ancient times and has a pedigree that stretches back to the beginning of mankind’s conscious development. New, because only over the past 100 years has it been subject to the full force of scientific scrutiny, after the discovery (re-discovery) that the unconscious mind, emotions and personal history directly affect ... ... 75-year-old who had no trouble sleeping at night but who found he could no longer enjoy his afternoon nap. At the root of his difficulty in letting himself sleep in the afternoons was a fear that he might never awaken. This was easily dealt with by providing Harold with an audiotape that put him into a pleasant state of hypnosis, with positive suggestions about enjoying a deep, refreshing sleep and awakening at the time he chose. Now Harold drifts off to sleep whenever he wants. Hypnotherapy is very effective in helping a senior who, many years ago, suffered sexual or other abuse. Even when the trauma has caused you decades of distress you can free yourself from its suffocating aftermath. This is done with the remarkable ability of hypnosis to, in a sense, rewrite your history. So you know the event happened, but you are no longer tormented by it. Bibliography