Financial Reporting and Analysis Essay Example | Topics and Well Written Essays - 1000 words

Financial Reporting and Analysis - Essay Example NBA franchise and other intangible assets have a value of $164,703 $164702 and $165 035 in years 1996, 1997, and 1998 respectively. This shows that the method of amortisation reflect the pattern of the usage of assets in generation of income. NBA intangible assets are defined in cost less amortisation that has accumulated. Straight line method spread over the useful estimated lives of the intangible assets which is generally 3-7 years provides the amortisation. b) Discontinued operations are referred to as parts of an entity that has been sold or has been put into held for sale grouping. While evaluating the future success prospects of an organization, an investor who has existed or a potential investor who will invest in future would remove the discontinued operations from consideration because these items have no bearing or effects on the future. The concern of the management is that some operations are discontinued to improve the results of the continuing operations. The operation s and cash flows of the part has been removed from the ongoing operations and the entity will not have a significant involvement in the operations of the discontinued part after the transaction of disposal is made. c) Team costs and expenses increased between 1996 and 1997 from $27,891,264 to $40,941,156. This is because of after discontinuing some operations, it would require a major effort to re-establish the operation and requires significant effort and budget to continue the operations as before. This may need extra marketing, extra staffing. There can be a possibility of increase in the cost of living between the two years which would subsequently raise the amount of team costs and expenses. d) Net income was $420,306 and $12,267,317 in year 1997 and 1998 respectively. This was a hefty rise in the value of income. This is because of higher revenue that was gained. Higher revenue resulted from ticket sales and also from Television and radio broadcasting fees in 2008. By constant winning of games, heavy promotion and advertisement through the television and broadcast and also through reaching a wide fan base by selling many tickets resulted to the higher income. Through maintaining lower expenses such as team costs and expenses, selling and promotion, general and administrative in the year 1998 resulted to an increase in net income. e) Noting that net income was higher in 1996, distributions declared were higher in 1998 than in 1996, with $0.50 per unit. Distributions are that portion of corporate profits that is made by a corporation to its shareholders. Net income can either be re-invested in the business or distributed to stockholders. In 1996, the main source of the net income was from the discontinued operations income. This income was better invested back to the business instead of distributing it to the shareholders. This would help avoid double taxation and be realised as capital gains. Case 10-7 Cash movements and Periodic Income Determination a) I ncome determination is not an exact science. It is the best estimate of determination of what will be the base of individuals’ income on the evidence the individual presents. The base period can be the month for which revenue verification and identification of an individual is a requirement. Month’s income is used for the projection of income. Income averaged and a conversion factor can be used to reach at a quantifiable monthly income. b) Cash flow estimation is the prediction whose main purpose is the anticipation of the disbursements and receipts of cash. It is a fixed amount of time that it covers. Cash sensitivity and aggressiveness determines the penetration

Analyse the key elements of an effective approach to recruitment and Essay

Analyse the key elements of an effective approach to recruitment and selection - Essay Example It is not only the work-related knowledge of an employee that is to be checked in the modern complex workplace, but there are issues like aptitude, attitude, temperament, and life vision that too have a role in the performance of an employee. Thus, altogether, selection and recruitment have become very important in any organization. There are various stages in a standardized selection procedure, and there are a lot of things to be taken care of while handling each stage. This paper is to look into the various stages in the process of selection and recruitment, and to analyze the key elements that decide the success of each stage. As Catano, Wiesner, Hackett and Methot (2009, p. 25) observe, there will be a large number of applicants in most employment situations; and hence the employer’s goal is to find the candidates who possess the knowledge, skills, abilities, and all other features required to successfully perform the particular job. The Structure of Recruiting In the opin ion of Stedt (2006, p. 38), the initial stage in the recruiting process is the design of an effective recruiting strategy. To develop an effective recruiting strategy, one should have knowledge about the following; the industry, the corporate culture of the company, the exact nature and number of job openings, expected hire dates, place of hiring, the budget to be spent on recruiting, time schedule, interviews, compensation package to be offered, and orientation of the new recruits (ibid). At this juncture, an overview of the key elements of the selection and recruitment process is presented below: 1 Clearly identifying the nature of the job to be filled 2 Producing a job description 3 Defining a selection criteria for the post 4 Advertising the post 5 Short-listing the candidates who meet the criteria 6 Preparing for the interview 7 Assigning core interview questions to board members 8 Evaluating candidates based on selection criteria 9 Communicating final selection decision (Sourc e: Recruitment and Selection Procedures, National University of Ireland, Maynooth, July 2006, p. 5). 1) Identifying the nature of the job to be filled The first stage is to identify the number of requisitions and the type of openings. This is utmost important in any organization because lack of clear idea about the number of openings, job titles, location, nature of the job, and date of hiring will affect the entire plan of selection and recruitment. It is only with a clear vision of the ‘to be filled’ job positions that a perfect recruiting plan can be developed (Stedt, 2006, p. 39). 2) Job description The purpose of job description is to set out the total purpose and base of the job. It should clearly address the key responsibilities involved in the job and the environment in which the job is done. The benefit of this job description is that the people who are engaged in selection can do so with a well-defined and clear idea about the job, responsibilities, and the sk ills required for doing the job. In addition, this will help the applicants in having a clear idea about the nature of the job while applying. However, the description will vary according to the nature of the job that is to be filled; but certainly, a degree of description is required for all posts. Understanding the importance of job description, recently, companies have started to give importance to presenting the purpose

Outdoor-lifestyle retailer Essay Example for Free

Outdoor-lifestyle retailer Essay Executive Summary BBQfun will be the leading outdoor-lifestyle retailer, catering to the growing need for furnishing new and renovated dwellings in the greater Brisbane area. The assortment offer of BBQs, outdoor furniture and BBQ accessories will position BBQfun as best inclass for outdoor-lifestyle retailing. BBQfun will reinvent the way people shop for outdoor-lifestyle products. BBQfun will build its reputation on offering the fullest assortment of products possible in our chosen fields, incorporating both local and imported goods with products sold on easy to manage long-term payment plans. Our after sales service and 3 year guarantees will find traction with a market dominated by low-quality. Situation Analysis BBQfun is close to entering its fifth year of operation. Te initial rollout of stores has been well received, and marketing is now critical to its continued success and future profitability. The store offers wide-ranging outdoor-lifestyle items on easy to manage payment terms and supplies a three year guarantee on every item sold. The basic market need is for quality, fashionable and unique outdoor-lifestyle items that caters to the house-proud needs of our market. Market Summary BBQfun possess good information about the market and knows a great deal about the common attributes of our most prized and loyal customers. BBQfun will leverage this information to better understand who is served, their specific needs, and how BBQfun can better communicate with them. Market Demographics †¢ Accessibility. The patron can gain easy access to the store with minimal wait. †¢ Customer service. The patron will be impressed with the after sales service and Guarantees. †¢ Competitive pricing. All products/services will be competitively priced relative to comparable high-end outdoor-lifestyle lines. Above all, BBQfun believes that easy to access stores with extensive choices in our chosen fields, that are sold on an easy to manage payment plan with a three year guarantee are the keys to our customer’s needs and wants. Market Trends The market trend for outdoor-lifestyle stores is headed toward a more sophisticated and informed customer. The outdoor-lifestyles patron today relative to yesterday is more sophisticated in a number of different ways. †¢ Item quality. The preference for high-quality items is increasing as customers are learning to appreciate the qualitative differences. †¢ Unique. Our patrons appreciate the opportunity to include outdoor-lifestyles in their home that stand out from the mass produced and sold low quality items. †¢ Selection. People are demanding a larger selection of choices, they are no  longer accepting a limited offer in outdoor-lifestyles. The reason for this trend is that within the last couple of years there has been an explosion of media in the form of TV shows and magazines that have promoted exotic and different outdoor-lifestyles. Our patrons no longer need to accept a limited number of options. With more choices, patrons have become more sophisticated. This trend is intuitive as you can observe a more sophisticated patron in larger city markets such as Sydney or Melbourne where there has been more choices available. BBQfun strongly believes that customers are more interested in range of products, after sales service and easy to manage payments than any other issues. These are the reasons that they will shop with us and become loyal patrons. Technological developments with the broadband rollout across greater Brisbane and Australia is opening up significant opportunities for internet shopping and for providing information for our customers about our product range. Market Growth In 2008, the National outdoor-lifestyle market reached $300 million dollars. Outdoor lifestyle sales are estimated to grow by at least 6% for the next few years. This growth can be attributed to several different factors. The greater disposable household income from the two income families, the greater availability of affordable and interesting quality imports with the high value of the Australian dollar and the marketing by popular TV shows like ‘Homes Beautiful’ and ‘Better Outdoor-lifestyles’. Economy Based on economic forecasts, BBQfun assumes that interest rates are staying steady and so will have no affect on disposable income. The same assumption is made about employment levels, where BBQfun assumes that unemployment levels remain the same at 4.7%. Political From research carried out, BBQfun identified that the Government focus and emphasis in future legislative direction will be about ‘growing the economy’ and ‘population base which BBQfun sees as a positive for their business model. There is also a strong push for environmentally sound business practices in the legislative framework. BBQfun, as business operating in Australia, will abide by the law in all its dealings and comply with all legislation that impacts on its business activities. SWOT Analysis The following SWOT analysis captures the key strengths and weaknesses within the company, and describes the opportunities and threats facing BBQfun. Strengths †¢ Excellent staff who are highly skilled and knowledgeable about outdoor-lifestyles. †¢ Great retail space that is bright, functional and efficient for a commercial urban district. †¢ High customer loyalty among repeat customers. †¢ Assortment offerings that exceed competitors offerings in quality, range and accessibility. Weaknesses †¢ A limited marketing budget to develop brand awareness due to the lack of critical mass and store cover. †¢ The struggle to continually fund the growing long term repayment plans taken out by our customers. Opportunities †¢ A growing market in a high growth area with a significant percentage of the target market still not aware of BBQfun’s offer. †¢ Increasing sales opportunities outside of our target area – greater Brisbane. Threats †¢ Competition from local independents that can reduce prices as owner operators lower than our staff run stores. †¢ Competition from National chains moving into the Brisbane market. †¢ A slump in the economy reducing customers disposable income spent on outdoor-lifestyles. Competition National Competition †¢ The Yard: has a limited selection but significant depth. All Australian made. No significant marketing or promotion. The price point is high, but the quality of products are quite good. Not in Brisbane. Mostly in Sydney and Melbourne. †¢ BBQ’s R us: Broad range of outdoor-lifestyle products including trinkets and furnishings. Lots of cheap imports. Concentrating on established markets. Strong in the replacements segment. Not in Brisbane. Mostly in Melbourne and Adelaide. †¢ Outdoorz: Large operations of only a few stores per city. Mass markets outdoor lifestyles at good value prices. No imported goods. Extensive advertising. Low to medium quality. Not in Brisbane. Strong in the replacement segment rather than new and refurbished  dwellings. Strong in other capital cities. Local Competition †¢ All independents. These stores are owned by individual owner operators. Ranges vary according to owner preferences. Very little imports. Mostly retailing Australian manufactured goods. Collectively their average item sale price is $250, have a market share of 48%, and are growing at about 8% per year. BBQfun do not see the competitors changing their marketing strategy or product offer in the foreseeable future. Growth and Share Analysis New dwellings – growth in potential customers 10%. Estimated Brisbane customer numbers in 2010 is 95,000. Renovations – growth in potential customers 7%. Estimated Brisbane customer numbers in 2010 is 35,000. Replacement – growth in potential customers 5%. Estimated Brisbane customer numbers in 2010 is 120,000. Service Offering BBQfun has created a outdoor-lifestyles range of retail products that are differentiated and superior to competitors. Customers can see the quality of the product as it is displayed in the stores. The following are characteristics of the product: 1. BBQfun’s credit offer is backed by a top tier bank. 2. Imported products make up 33% of the assortment. 3. The 3 year guarantee is unique in the market place. 4. Broadest possible range in chosen fields. BBQfun’s prides itself on providing service that is on par if not better than any of the local independent stores and far in excess of the national chains. BBQfun will ensure that all aspects that are involved in the delivery of satisfaction to the customer will work using an integrated approach. At a GlanceThe Prototype BBQfun Store: †¢ Location: a commercial, suburban neighbourhood, or urban retail district. †¢ Design: bright and functional. †¢ Size: 1,000 to 1,500 m2. †¢ Employees: 15 to 20 full time plus casuals †¢ Types of transactions: 60% cash, 40% on long term repayment plan. Keys to Success Location. BBQfun’s site selection criteria are critical to success. Scott Bremmer, former partner of an international chain, helped us identify the following site selection criteria: †¢ New dwelling populations. †¢ Shopping patterns requiring easy access. †¢ Customer car parking counts. Critical Issues BBQfun is still in the speculative stage as a possible franchise concept or joint venture. Its critical issues are: †¢ Committed to sales growth which allows for greater options in import assortments and in reduced price with volume buys. This will promote our uniqueness and contribute to improved profit margins. †¢ Continue to finance the easy manage long term repayment plan for customers. †¢ Locate in easy access sites close to the growing markets in new dwelling development. Marketing Strategy BBQfun’s advertising budget is set at $250,000 for the year. The advertising program will target local letter-box drops, radio and magazines. BBQfun’s will do direct mail and local advertising, with coupon inserts in the BrisNews magazine likely to be the most successful of the campaigns. BBQfun will try to get articles about BBQfun into the BrisNews magazine. Previous features in the BrisNews magazine has seen a dramatic increase of sales immediately after the article was published. Mission BBQfun’s mission is to provide customers with the most extensive assortment of quality outdoor-lifestyle products available in the market. Our after sales service is second to none supported by our easy to manage long term repayment plans which make unique, imported and high quality outdoor-lifestyle affordable to all. BBQfun exist to attract and maintain outdoor-lifestyle customers wishing to purchase products that give our customers pride in their homes. Our services will exceed the expectations of our customers. Marketing Objectives 1. Increase sales from $15million per year to $20million per year in the next  three years 2. Increase our loyalty customers list from 10,000 to 16,000. 3. Establish brand recognition in Brisbane so that at least 2 in 3 people recognise our brand in a random survey taken in 18 months time. 3.3 Financial Objectives 1. A double-digit growth rate for each future year. 2. Reduce the overhead per store through disciplined management of expenses. 3. Continue increase our gross profit margins. Target Marketing The market can be segmented into three target populations: †¢ New dwellings – generally want to purchase entire suites. Typically shopped as couples. Price sensitive to a point but co-ordination is the highest priority. †¢ Renovations – demand for high quality and different items. Unique and exotic over rides price concerns. †¢ Replacement – basic functional products that replace and broken or worn item. Single shopper. Cheap price required. The BBQfun customers are mostly aged between 20 and 50, making up 50% of the new and renovated dwelling market. Outdoor-lifestyle stores have been very successful in stand alone, extensive car park access, close to new housing estates being established. These areas have families who have household disposable incomes of over $40,000 per year. Combining several key demographic factors, BBQfun arrives at a profile of the primary customer as follows: †¢ Sophisticated people who are house proud. †¢ Shoppers who will drive to an easy to access store. †¢ A customers who requires payment plans to spread their commitment over an extended period. †¢ Renovators and new home builders †¢ 20-50 year olds Positioning BBQfun will position itself as a broad assortment, quality, unique outdoor-lifestyle retailer. Brisbane consumers who appreciate high-quality and uniqueness will recognize the value and unique offerings of BBQfun. Patrons will be single as well as families, ages 20-50. BBQfun’s positioning will leverage their competitive edge: †¢ Product. The product will be wide ranging, quality and unique. It offers the house proud customer a different  option from the cheap mass produced offer prevalent in the market †¢ Service. BBQfun offer the only 3 years guarantee in the market. Our easy play payment scheme is just what our mortgage repaying customers welcome. Our experienced staff can assist with product knowledge second to none in the industry. By offering a superior service in range and uniqueness, BBQfun will excel relative to the competition and achieve our objectives. Strategy Pyramids The single objective is to position BBQfun as the premier outdoor-lifestyles store in the greater Brisbane area, commanding a majority of the market share within five years. The marketing strategy will seek to first create customer awareness regarding their services offered, develop that customer base, and work toward building customer loyalty and referrals. The message that BBQfun will seek to communicate is that BBQfun offers the widest, most exotic, easy access outdoor-lifestyle products in Brisbane. This message will be communicated through a variety of methods. The first will be direct mail. The direct mail campaign will be a way to communicate directly with the consumer. BBQfun will also use ads and inserts in Brizzy magazine.The last method for communicating BBQfun’s message is through a grassroots PR campaign. This campaign will invite people from Brizzy for lunch to get articles written about BBQfun into the news. Because of this level of effectiveness and low/zero cost, BBQfun will work hard to get press in the Brizzy. BBQfun also believe that the local patrons far prefer to receive information from the store via flyers in the letterbox. Marketing Mix BBQfun’s marketing mix is comprised of these following approaches to pricing, distribution, advertising and promotion, and customer service. †¢ Pricing. While BBQfun will price at comparable prices for comparable quality, it will not be cheap. We push value over cheap and back this up with a 3 year guarantee. †¢ Distribution. BBQfun products will be distributed through a chain of retail stores which customers can access easily via the large car parking arrangements. †¢ Advertising and Promotion. The most successful advertising will be ads and inserts in the Brizzy as well as a PR campaign of informational articles and reviews also within the Brizzy. Promotions will take the form of in store entertainment and competitions with prizes to exotic overseas destinations. †¢ Customer Service. BBQfun’s philosophy is  that whatever needs to be done to make the customer happy must occur, this investment will pay off with a fiercely loyal customer base who is extremely vocal to their friends with referrals. Product development It is envisaged that new products will be developed on a regular basis in line with changes in customer taste which is targeted at every 12 months. The plan for product testing is to engage market research firms. By getting feedback from these firms, changes can be made or products ‘canned’ so that only tested and proven products make it onto the store assortment list. Marketing Research During the initial phases of the marketing plan development, several focus groups were held to gain insight into a variety of patrons of outdoor-lifestyle stores. These focus groups provided useful insight into the decisions, and decision making processes, of consumers. An additional source of market research that is dynamic is a feedback mechanism based on a suggestion card system in store. The last source of market research is competitive analysis/appreciation. BBQfun management will continually visit local outdoor-lifestyle stores for two reasons. The first is for competitive analysis, providing BBQfun with timely information regarding other store’s service offering. The second reason is that local business owners, are often part of an informal fraternal organization where they support each others business. Financials, Budgets, and Forecasts This section will offer a financial overview of BBQfun as it relates to the marketing activities. BBQfun will address Break-even Analysis, sales forecasts, expense forecasts, and how those link to the marketing strategy. Break-even Analysis The Break-even Analysis indicates that $1.1 million in sales per year will be needed to reach the break-even point. Fixed costs are estimated at $150,000. Variable costs are 40% of sales, therefore sales of $1.0 million will be sufficient to pay for the fixed and variable cost. Sales Forecast The first year of the plan will be used to get the cafe up and running. By year two things will get busier. Sales will gradually increase with profitability being reached by the beginning of year two. Gross profit is  anticipated at 50%. Ongoing sales forecasting will be to use the services of Cannon’s Consultants who will advise on all aspects of the marketing function that BBQfun will be engaged with. Cannons will also be given access to the marketing cost data so that they can periodically examine and validate marketing costs in line with industry benchmarks. They have always been the preferred consultants because they are locally based unlike the national group of consultants, Brown Holingsworth, based in Melbourne.

UK Books and Publishing Industry Analysis

UK Books and Publishing Industry Analysis Table of Contents 1. Introduction5 1.1 Objective5 1.2 Reasons for Choosing the UK Books and Publishing Industry6 2. Industry Overview9 2.1 Market Size and Attraction10 2.2 Market Sectors10 2.2.2 Paperback11 2.2.3 Electronic11 2.2.4 Fiction11 2.2.5 Non-fiction11 2.3 Industry Target Markets12 2.4 Market Sales, Performance and Activities14 2.4.1 Domestic Market14 2.4.2 Export Sales15 2.4.3 Imports16 2.5 Publishing Companies17 2.6 Employment19 2.7 Distribution20 2.8 Major Trends and Developments21 2.8.1 Emerging Book Formats21 2.8.2 Emerging Distribution Channels and Markets22 2.8.3 Developments in Technology and Concerns in Copyright and Production23 3. Industry Analysis – PESTEL24 3.1 Using the PESTEL Analysis24 3.2 Political Factors24 3.2.1 Taxation24 3.2.2 Pricing24 3.3 Economic Factors25 3.3.1 Global Economic Factors25 3.3.2 UK Economic Trends25 3.4 Social Factors26 3.4.1 Consumer Preferences26 3.4.2 The Internet and Technology26 3.4.3 Reading Habits27 3.5 Technological Factors27 3.5.1 The Digital Age27 3.6 Legislative27 3.6.1 Copyright and Intellectual Property27 3.6.2 Market Regulations for New Entries28 3.7 Environmental 28 3.7.1 The Issue of Paper28 3.7.2 Other conservation measures29 4. Industry Analysis – Porter’s Five Forces Model29 4.1 About Porter’s Five Forces Model29 4.2 Rivalry29 4.3 Supplier Power29 4.4 Buyer Power30 4.5 Threats of Substitutes30 4.6 Barriers to Entry30 5. Conclusion31 References34 List of Tables Time Spent of Main Activities, by Sex, 20058 Total Book Sales 1998-200210 Projected Book Sales: 2002-200710 Unit Book Sales by Format: 1998-200211 Projected Book Sales by Format: 2002/200712 Value Book Sales by Target Market: 1998-200213 Projected Book Sales by Target Market: 2002/200713 Publishers’ Export Sales: 1998-200116 Book Imports: 1998-200117 Leading Publishers Ranked by Total Retail Sales 2001/200218 Total Employment in the Publishing Industry 1998-200220 Retail Distribution21 The UK Books and Publishing Industry Analysis 1. Introduction According to the Encyclopaedia of Global Industries (‘Book Publishing’, 2007), global spending on books increased from US$85.3 billion in 2000 to US$104.6 billion in 2005. This is despite the fact that the global demand for books had significantly dropped for a number of reasons. One of the major reasons cited for this drop was the September 11 terrorist attacks in the United States. In contrast, the United Kingdom (UK) is currently one of the world’s leading players in the world of publishing. However, it remains behind to major global producers the United States, Japan and Germany. UK is followed by another European major publisher, France In 2002, the UK book and publishing industry reached the value of à ¢Ã¢â‚¬Å¡Ã‚ ¤2.5 billion (‘Books and Publishing – United Kingdom’, 2003) and continues to be the major location of European publishing’s central operations and the U.S. publishing’s gateway across the Atlantic. 1.1 Objectives The UK books and publishing industry is one of the UK’s distinct industries. As stated above, UK ranks among the world’s major book and publication producers. Readers across the globe are familiar with the UK’s contribution to the publishing world . UK writers have long been one of the more famous sets of writers in the classic and modern histories. Ranging from William Shakespeare to J.K. Rowling’s Harry Potter franchise, the UK books and publishing industry continues to play a significant role, especially among the English-language readers across the globe. However, the new media forms that have been emerging lately such as electronic and online forms of publishing currently challenge the publication preferences of the consumers today and UK print media too has got impacted. The present study is an attempt to analyse the UK books and publishing industry. The objectives of this industry analysis are as follows: Provide an overview of the UK books and publishing industry, its current status and projected directions. Analyse the factors that influence the current and future operations of the industry by using the tool of PESTEL analyses. Assess the books and publishing industry and its impact and performance in the market by using market analysis tools of Porter’s Five Forces. Determine the critical factors that can determine the future of the UK books and publishing industry. 1.2 Reasons for Choosing the UK Books and Publishing Industry The UK remains to have a healthy and dynamic book and publishing market; not only does the UK contain one of the significant market shares in the global book market, it boasts of a number of in-demand authors. Books and publishing in the UK highlights the society’s inherent love for books . What is interesting in the UK book and publishing industry can be seen in the following factors: (1) UK has had a significant role in the publishing world especially among English-language readers across the globe; however, in terms of industry size, UK remains behind book producing giants the United States, Japan and Germany. These three countries have a competitive production advantage: the United States has strong media and entertainment industry which has also influenced its publishing sector; Japan is known for its graphic novel and books publication, as driven by the strong manga culture and demand; Germany’s media corporate giant, Bertelsmann, has managed to own and merge with large publishers, which makes this German company a significant player in the global industry (‘Book Publishing’, 2007). (2) New forms of media, electronic publishing and the Internet, have emerged which have challenged the conventional publishing forms. Electronic publishing and the Internet has become a challenge in a number of areas including the redefinition of publication format (electronic or published through the Internet) and publication access (self-publishing has become popular online). This also influences the amount of interest the public continues to have in books especially when more recreational forms have evolved which may be preferred over picking up a magazine or a book. Besides, recent times have also witnessed a rise of online / virtual schools and other forms of virtual reality which has now given way to emergence of digital versions of these books or e-books. (3) Emerging markets brought by globalisation also affect the expansion of UK publishers to other parts of the world. This is in addition to the increasing demand for English-language learning courses in non-English speaking nations can encourage the publication of books. Regional authors too can increase the interest of the global readers, and it is interesting to see how the UK publishing industry has responded to these new opportunities. In addition to this, it is interesting to evaluate the performance of this huge industry that reaches different global markets and at the same time, is serving a more particular sector of the people’s reading habits. Based on a survey on leisure activities in 2005 by the National Statistics Office’s, reading has been cited as constituting a negligible part of how people spend their time every day. Reading, on an average, only accounts for 23 minutes among men and 26 minutes among women. The following table illustrates how this industry has been catering to a fraction of people’s average daily activities: Time Spent of Main Activities, by Sex, 2005 (‘Time Use Survey’, 2006) As can be seen in the table, reading has taken a backseat as compared to the time people spend watching television or having a â€Å"social life†. A similar survey conducted in 2001 among full-time workers on how they spend their free time, reading emerged as the third highest activity whereas games/hobbies/computing came in close behind (‘Lifestyles’, 2004). Evidently, in the previously cited more recent survey, games/hobbies/computing activities have overtaken reading. However, this peculiar development holds true among males who spend an average of 37 minutes in playing games, indulging in hobbies or working on computers whereas women tend to be ardent readers, thereby spending more time reading than other hobbies. It should also be noted that reading does not only limit itself to the products of the book and publishing industry as the Internet has also become a significant source for information. 2. Industry Overview 2.1 Market Size and Attraction According to the Confederation of British Industry, the book sector has been one of the significant drivers in the overall UK retail sales growth, along with furniture and groceries (‘Books and Publishing – United Kingdom’, 2003). This shows that books are among the main purchases that people make in a combined demand in the leisure and educational sectors. The UK books and publishing industry reached the à ¢Ã¢â‚¬Å¡Ã‚ ¤2.5 billion mark in 2002, making this industry having a positive overall outlook. Volume and value gains were seen rising from 2001 to 2002 at 12.1% and 16.8% respectively. The 12.1% volume increase reflected the 323.8 million units sold by 2002, which contributed to the compounded annual growth rate (CAGR) of 2.9%. Positive developments were also experienced, which started from the late 1990s up to the beginning of the millennium, with strong value gains eventually contributing to the 4% CAGR since the surge in sales in 1999 (‘Books and Publishing – United Kingdom’, 2003). Total Book Sales 1998-2002 ( Euromonitor International: Country Market Insight) Projected Book Sales: 2002-2007 ( Euromonitor International: Country Market Insight) According to the Publishing Industry Market Review 2006, the total publishing market was worth 18.63bn in 2005, having increased by 7.6% across the review period (2001 to 2005). The Publishing Industry is defined by Newspapers, Magazines as well as Book publishing. Newspaper publishing accounts for the largest share of the markets total value, followed by magazine publishing and book publishing. Within the books and publishing industry in 2004, retail book sales were  £3.98bn which represents a 3.2% increase on 2003.( UK Publishing Industry 2005,) Since 1999, the market has grown by a total of 16% and around 67% of the markets value is consumer books. The UK Publishing Industry 2004 report indicates that the UK publishing market is expected to grow by 12.9% between 2004 and 2008. Magazine revenues are likely to rise by 17.3%, newspaper revenues by 15.2% and book publishing by 14.7%. (UK Publishing Industry 2004,). 2.2 Market Sectors The commercial publishing industry extends far beyond books and journals. Products are available in electronic as well as print form. The overall book and publishing industry (‘Books and Publishing – United Kingdom’, 2003) can be classified on the basis of format and category Format: 2.2.1 Hardbacks Hardback formats are hardbound books. This format can be commonly found among books for children, new releases, and non-fiction books. 2.2.2 Paperback Paperback or softback is the most common format . This dominantly makes up the books targeted for commercial and educational purposes. 2.2.3 Electronic The electronic formats are the non-paper based products available on CD-ROM, or as audio books, e-books etc. Category: 2.2.4 Fiction The fiction category includes children’s books, novels across genres (crime, Western, thriller), historical, romance, etc. 2.2.5 Non-fiction The non-fiction category includes educational, academic and professional books, reference books, travel guides, DIY, etc. The performances of these different sectors (by format) are illustrated in the following table (‘Books and Publishing – United Kingdom’, 2003): Unit Book Sales by Format: 1998-2002 (Euromonitor International: Country Market Insight) Projected Book Sales by Format: 2002/2007 (Euromonitor International: Country Market Insight) Based on the performance of the two main categories, fiction and non-fiction, the latter continues to dominate the book sales and continues to grow (‘Books and Publishing – United Kingdom’, 2003): 2.3 Industry Target Markets Books can also be classified on the basis of the target market: consumer and institutional (‘Books and Publishing – United Kingdom’, 2003). The consumer market is the mainstream book market which includes regular readers and individual buyers. The institutional market for books is defined by institutions or organisations that buy books for specific purposes such as libraries. It also includes the books bought by the education sector. There is a potential confusion as to the identification of the consumer and the institutional market as the consumer market also includes publications for academic and professional purposes. However, institutional books are mostly identified by means of prevailing theme and the market segment, such as in the case of libraries and field-specific institutions (i.e. law books collection) whereas the consumer market’s main source of distribution channel are bookshops, online stores, etc. In terms of performance, the consumer market has a significant market share over the institutional market. The total sales brought by he consumer market in 2002 was at à ¢Ã¢â‚¬Å¡Ã‚ ¤2.0 billion, thereby having 80.3% of the overall book market share. Average growth was cited at 17.4%, with the surge of sales throughout the year usually picking up during the last quarter (‘Books and Publishing – United Kingdom’, 2003). The institutional market has been also experiencing positive growth at 14.3%, with its sales reaching à ¢Ã¢â‚¬Å¡Ã‚ ¤490.6 million and comprising 19.7% of the overall market sales. Educational sales continue to dominate the institutional sales at 63.4% whereas contributions from the library sector continue to fluctuate. As can be observed from the table given below, there was a significant drop in library sales from à ¢Ã¢â‚¬Å¡Ã‚ ¤114 million to à ¢Ã¢â‚¬Å¡Ã‚ ¤101 million from 1998 to 1999, with this particular sector experiencing fluctuations until 2002 (‘Books and Publishing – United Kingdom’, 2003). Value Book Sales by Target Market: 1998-2002 (Euromonitor International: Country Market Insight) Projected Book Sales by Target Market: 2002/2007 (Euromonitor International: Country Market Insight) 2.4 Market Sales, Performance and Activities The UK books and publishing industry relies on various market forces in order to maintain its dynamism; this can be attributed to its performance mainly on domestic sales, and then through the export and import volume and sales. 2.4.1 Domestic Market As previously mentioned, the consumer market mainly comprise of the industry’s domestic sales. Strong performance has been seen across sectors and categories, with positive developments in fiction as well as non-fiction books. Sales in fiction category experienced an average increase of 56% from 1998 to 2001, although non-fiction remains to have the significant market share (‘Books and Publishing – United Kingdom’, 2003). A number of market strategies have emerged in order to have the publishers improve their performance. It has been noted that UK has even adopted an American market strategy framework which includes book tours and taking advantage of the different media channels to increase exposure and promotion such as online book ordering promotions and book superstores (‘Book Publishing’, 2007). It can be observed that this has been apparent in the franchising sector in which UK fictional giant, the Harry Potter franchise, have further ventured into film and consumer products. In a way, books have established a force to create a peripheral market sector which relates the books to other relevant industries. However, the opposite takes place when classic British books such as J.R.R. Tolkiens’ The Lord of the Rings and C.S. Lewis’ The Chronicles of Narnia were made into movies, and because of the success of this channel, book sales for these works have also experienced a significant increase as this has become a promotional means in order to sell more books. Such strategy is not only felt in the UK domestic sector but also in other global sales as well. 2.4.2 Export Sales UK books are exported throughout the world and a cited increase of 4.4% was seen from 1998 to 2002. As per a Department of Trade and Industry (DTI) report, the export market is worth approximately  £1.4bn a year. However, UK’s main export competition comes from the United States, which also produces English-language books. Some exporting strategy can be also seen through the industry (‘Books and Publishing – United Kingdom’, 2003, p. 19): Although the worldwide Harry Potter phenomenon had a strong impact on exports, particularly over the 1999/2000 period, non-consumer publishing book sales were also a mainstay of export performance. English is the world language for titles in the scientific/technical/medical category and as such, the UK dominates the field internationally in terms of sales. For publishers of these kinds of texts exports can account for up to 60.0% of sales, particularly to the US, and it can be of great advantage for a publisher to have an American arm or to be part of an American-controlled group in terms of securing US rights of publication. In this case, despite the stiff competition with the US titles, UK books have also been performing fairly well in the United States; the UK mainly exports to the United States. In fact, UK has been the largest exporter of books to the United States books market. The performance of the UK publishers’ export sales are as follows (‘Books and Publishing – United Kingdom’, 2003): Publishers’ Export Sales: 1998-2001 (Euromonitor International: Country Market Insight) 2.4.3 Imports The UK also imports books from overseas markets such as the United States. Interestingly, Asian markets have been contributing significantly to UK book imports. The second largest imports, after the United States, come from Hong Kong, and the fourth largest market is Singapore; China too is also among the top sources, gaining the eighth import source position in 2001 (‘Books and Publishing – United Kingdom’, 2003). Interestingly, UK imports increases industry competition, with its value rising at 16.6% within the period 1998-2001. The following table shows the import value during this time period (‘Books and Publishing – United Kingdom’, 2003): Book Imports: 1998-2001 (Euromonitor International: Country Market Insight) 2.5 Publishing Companies Each of the three sectors of publishing in UK-newspapers, magazines and books- is dominated by around a dozen companies. Only a few companies are active in more than one sector. In fact, only Pearson PLC is involved in all three markets in a significant way. News Corporation, which publishes newspapers and which owns the book publisher Harper Collins too has entered the magazine market early in 2006. The UK publishing industry is still primarily UK owned. However, in the magazine market, there are several foreign-owned companies. These include the following: The Conde Nast Publications Ltd Hachette Filipacchi (UK) Ltd IPC Media Ltd The National Magazine Company Ltd The Readers Digest Association Ltd and VNU Business Publications Ltd. As indicated in Books and Publishing – United Kingdom 2003 The UK is not the home base of any major media player, such as Bertelsmann, Vivendi or AOL Time Warner. The regulations on media ownership make it easier for new entrants from abroad to establish a presence in the UK than for UK companies to substantially enlarge market share. Most of the major players in the book industry are owned by international multimedia publishing concerns, and therefore the most helpful form of comparison is to analyse leading publishing houses, and the results of the consolidated groups which own them. (‘Books and Publishing – United Kingdom’, 2003, p. 23) Thus, the books and publishing industry in the UK is characterised by a handful of global conglomerates or international companies, such as Reed Elsevier Group PLC, Pearson PLC, The Random House Group Ltd and Harper Collins Publishers Ltd. The leading publisher in the UK, HarperCollins, is a merger of British publisher William Collins Sons and Co Ltd. and the American publisher Harper Row. Today, HarperCollins is owned by the American media conglomerate, News Corp., although HarperCollins UK is the UK’s leading publishing house (Books and Publishing – United Kingdom’, 2003; ‘Harper Collins’, 2007). In the recent years, many other companies have been acquired and merged. For instance, in 2004 a major development was the acquisition of Hodder Headline from WH Smith by the French publisher Hachette Filipacchi in 2004. This merely added to further internationalisation of UK publishing. Hachette already owned Orion which further owned Weidenfeld Nicholson. This has lead it to become the UKs second-largest consumer book publisher. Macmillan and Random House are both owned by German companies. These main drivers of these developments have been the business strategies applied by these corporations. These strategies can be observed to be influenced by forces such as globalisation and certain deregulations when it comes to foreign operations. Besides these, other major publishers are Blackwell and the university presses of Oxford and Cambridge. The following table shows the leading publishers in the UK according to sales (Books and Publishing – United Kingdom’, 2003): Leading Publishers Ranked by Total Retail Sales 2001/2002 (Euromonitor International: Country Market Insight) 2.6 Employment By 2002, the books and publishing workforce, which also include employees in the printing sectors, were recorded at 352,000; according to the National Statistics, this figure was at 366,000 in 2001 (Books and Publishing – United Kingdom’, 2003; ‘Harper Collins’, 2007). In 2004, approximately 280,000 people were employed nationally and about 15% work part time. It has been cited that the books and publishing industry has not offered a very promising development to its workforce in terms of pay and employment confidence (Books and Publishing – United Kingdom’, 2003, p. 22): †¦ In a recent survey by Bookcareers.com, 66% of employees in the industry said that they had lost colleagues to redundancy. There is widespread discontent in the industry, particularly over the issue of pay. Levels of pay, especially for starting salaries, are notoriously low, particularly bearing in mind the level of education required for publishing work, and starting salaries can be as little as  £15,000 a year. Pay is a factor in most employees’ lives, particularly because most of UK publishing centres around London and the South East, where house prices are simply unaffordable for people earning average salaries in the industry. In addition to this, professional development does not sound as promising in this industry due to the lack of training initiatives and specific professional skills. Professionals in this industry are mostly managerial in nature. Hence, in terms of skills development, the demand has not been as impressive in this sector. It is therefore not as surprising that the number of employees in the industry has been discouraging in terms of rate, and employment has been also bleak due to redundancies. Total Employment in the Publishing Industry 1998-2002 (Euromonitor International: Country Market Insight) 2.7 Distribution In the past consumers were buying books through a variety of distribution channels such as large chain bookstores book clubs and independent and small chain bookstores, mass merchandisers, mail order, food and drug stores, discount stores, used books etc. The traditional bookshops have been losing their influence and as a result such booksellers have been also starting to fold up. The Internet is becoming one of the most active distribution channels for books and publications. Although the Internet does not have as much distribution share at this point, it continues to contribute significantly in this area as it also continues to increase as a highly-used distribution channel. Book retailers continue to dominate the product distribution; these retailers include chained retailers and independent bookshops. As compared to independent bookshops, in recent times, , bookshop chains are starting to increase its market grasp and influence (Books and Publishing – United Kingdom’, 2003). Another distribution source is through book clubs. The UK’s leading book club, BCA, combines to book club concept and its mail-to-order scheme, in addition to smaller subdivision of smaller book clubs. The book retail distribution trends have been presented in the following table: (Books and Publishing – United Kingdom’, 2003): Retail Distribution (Euromonitor International: Country Market Insight) It can be observed that there has been significant increase in sale through Internet and multiple (chained) booksellers whereas there has been a decrease in distribution through independent booksellers and book clubs/mail-to-order. 2.8 Major Trends and Developments The dynamism of the books and publishing industry in the UK can be determined by the key trends and developments that can eventually affect how the industry operates and performs. 2.8.1 Emerging Book Formats As previously mentioned, new formats such as e-books, CD-ROMs and audio books have now entered the market. Among the three, e-books have been creating a stir due to a number of reasons: it is in digital format that can be easily downloaded. What also works well with the emergence of e-books is the emergence of technologies.. For example, PDAs have now developed into small, handheld computers that can carry a substantial amount of data; e-books, which are usually in the PDF can be easily downloaded in PDAs and accessed through PDF reader (Microsoft Reader and Adobe Acrobat). Hence, people do not have to carry large books around as they can easily access them through their devices. As per the statistics from an online download source for public domain books, manybooks.net, PDF downloads have reached almost 140,000, not including the other electronic book formats such as eReader and RTF, and downloadable text in HTML format (Nagle, 2007). In any case, the number of downloads can reach hundreds of thousands, and this only includes books from one website and works within the public domain. Another popular source of free e-books is Project Gutenberg (Project Gutenberg, http://www.gutenberg.org/wiki/Main_Page) which claims to have over 2 million downloads every month. 2.8.2 Emerging Distribution Channels and Markets As discussed in the distribution channel section, the Internet is becoming to impress its influence among UK consumers; book sales online experienced an 11% growth in 2001 and continues to be significant till date. Although some online start-ups wanted to take advantage of the UK market, most of them were adversely affected by the dotcom bubble in the 1990s. Expectedly, Amazon.co.uk is the top online seller of books in the UK (Books and Publishing – United Kingdom’, 2003). 2.8.3 Developments in Technology and Concerns in Copyright and Production Technological developments have largely affected the books and publishing industry. As previously mentioned, technolo

Secularism v. Spirituality in the Second Nuns Tale Essay -- Second Nu

Secularism v. Spirituality in the Second Nun's Tale      Ã‚  Ã‚  Ã‚  Ã‚   In the General Prologue to the Canterbury Tales, Chaucer describes the men and women of the Church in extreme forms; most of these holy pilgrims, such as the Monk, the Friar, and Pardoner, are caricatures of objectionable parts of Catholic society.   At a time when the power-hungry Catholic Church used the misery of peasants in order to obtain wealth, it is no wonder that one of the greatest writers of the Middle Ages used his works to comment on the religious politics of the day.        Ã‚  Ã‚  Ã‚  Ã‚   Yet not all of Chaucer's religious characters are failures in spirituality. His description of the Second Nun is of a truly pious woman who spends her life in the service of others; she claims this service as the very reason she tells her tale:      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   And for to putte us fro swich ydelnesse,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   That cause is of so greet confusioun,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   I have heer doon my feithful bisynesse,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   After the legende, in translacioun   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Right of thy glorious lyf and passioun   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Thou with thy gerland wrought with rose and lilie -   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Thee meene I, mayde and martir, Seint Cecilie.   (22-28)    She is using her time wisely and in the service of her God, avoiding the easy-to-commit sin of sloth as she journeys on her horse, and aiding her comrades in the avoidance of this sin.   In addition to saving the pilgrimage from sloth, she enlightens and teaches those around her, much like her beloved Saint Cecilia.      However, while the character herself is fascinating and worthy of study alone, most intriguing is the choice of her tale.   What is Chaucer's purpose in having the character tell the tale ... ...owski, Eileen   S. "Chaucer's Second Nun's Tale and the Apocalyptic Imagination." The Chaucer Review. 36.2. 2001: 128-148. Project Muse. 2 Apr. 2002. Keyword: Second Nun. Martin, Fredrick. Increase and Multipy in the Speech Acts of Chaucer's Nun's Priest, Second Nun, and Canon's Yeoman. 30 Mar. 2002 <http://www.geocities.com/Athens/Delphi/9976/chaucer8.html>. Reames, Sherry L. "The Cecilia Legend as Chaucer Inherited It and Retold It: The Disappearance of an Augustinian Ideal." Speculum. 55.1. 1980: 38-57. JSTOR. 6 Apr. 2002. Keyword: Second Nun. Taise, Brother Anthony of. Chaucer and Religion. Ewha University, Seoul. 30 Mar. 2002 <http://www.sogang.ac.kr/~anthony/Religion.htm>. Weise, Judith A. "Chaucer's Tell-Tale Lexicon: Romancing Seinte Cecyle." Style. 31.3. 1997: 440-479. ProQuest. 02 Apr. 2002. Keyword: Second Nun.   

Markov Analysis

1. Describe the internal labor market of the company in terms of job stability (staying in same job), promotion paths and rates, transfer paths and rates, demotion paths and rates, and turnover (exit) rates. Transition Probabilities for 2010-2011 Sales, Full-time 1. 50% stayed the same 2. 10% transferred to part-time status 3. 5% were promoted to Asst. Sales Mgr. 4. 0% were promoted to Regional Sales Mgr. 5. 35% left the organization Sales, Part-time 1. 5% transferred to full-time status . 60% stayed the same 3. 10% were promoted to Asst. Sales Mgr. 4. 0% were promoted to Regional Sales Mgr. 5. 25% left the organization Asst. Sales Mgr. 1. 5% were demoted to full-time sales 2. 0% were demoted to part-time sales 3. 80% stayed the same 4. 10% were promoted to Regional Sales Mgr. 5. 5% left the organization Region Sales Mgr. 1. 0% transferred to another job 2. 70% Stayed the same 3. 30% left the organization 2. Forecast the numbers available in each job category in 2013.Job 2012 Categor y Employees SF SP ASM RSM TOTAL EXIT Sales Full-time (SF) 500 250 50 25 0 325 175 Sales Part-time (SP) 150 7. 5 90 15 0 112. 5 37. 5 Asst. Sales Mgr. (ASM) 50 2. 5 0 40 0 47. 2. 5 Region Sales Mgr. (RSM) 30 0 0 0 21 21 9 Work Sales Full-Time (SFT) Sales Part-Time(SPT) Asst. Sales Mgr(ASM) Reg Sales Mgr a. ) . 50 x 500 = 250 b. ) . 05 x 150 = 7. 5 c. ) . 05 x 50 = 2. 5 d. ) . 70 x 30 = 21 . 10 x 500 = 50 . 60 x 150 = 90 . 80 x 50 = 40 . 30 x 30 = 9 . 05 x 500 = 25 . 0 x 150 = 15 . 10 x 50 = 5 . 35 x 500 = 175 . 25 x 150 = 37. 5 . 05 x 50 = 2. 5 3. Indicate potential limitations to your forecasts. A. ) As a rule, it is desirable to have 20 or more employees in each job category/level. Some of the cells contain less than 20 cases. So the estimates based on these figure can yield unstable estimates of future availabilities. B. ) There is a possibility of results not being accurate due to multiple moves by employees.The analysis cannot detect multiple moves by employees between T and T+1 ; it only classifies employees and counts their movement according to their beginning (T) and ending (T+1) job category/level, ignoring any intermittent moves. C. ) The forecast assumes that all employees in a job category/level have an equal probability of movement. This is unrealistic because organizations take many factors into account. Because of these factors, the probabilities of movement may vary among specific employees.

What is a relationship

Reid with each other to. Hat makes this relationship special is we bond together and we treat each other nicely and are not disrespectful to one another-well crystal is special to me is she doesn't brag about things and she doesn't cry over dumb things and she's kind to one another. Crystal and recognized the relationship is when we started talking to each other a lot. Let all started back in the day 2011,we were at a party and I was eating food like usual and than saw her sitting down and I talked to her than we started to talk for a few than we have been friends since than.My relationship with this person is great ,we still hang out with each other and eating food, watching movies like usual. How feel about the relationship now? Is good like said we chill,eat,movies than more eating. What this relationship means to me is were just normal people , eating food with my best friend and its great ‘nice to each other. I learned thru this relationship is were not always goanna be wi th each other even thou we live 1 house down and not to be disrespectful. This experience will help me with other people is don't judge a book by its cover like just be nice to one another.