Child Abuse and Neglect :: Violence Against Children

Child Abuse "Trust unto Jehovah with all thy heart, And unto thine own understanding lean not. In all thy ways know thou Him, And He doth make straight thy paths." (Proverbs 3:5,6, YLTHB) The statistics on physical child abuse are alarming. Of the estimated hundreds of thousands of children battered each year by a parent or close relative, thousands die. For those who survive, the emotional trauma remains long after the external bruises have healed. Communities and the courts recognize that these emotional "hidden bruises" can be treated. Children who have been abused may display a poor self-image, Inability to depend on, trust or love others, Aggressive and disruptive—sometimes illegal— behavior; Passive and withdrawn behavior; fear of entering into new relationships or activities, School failure, Serious drug and alcohol abuse. The child and adolescent psychiatrist is able to treat the "whole child"—medical as well as psychological or emotional problems that have occurred as a result of the abuse. The family can be helped to learn new ways of support and communicating with one another. Through treatment, the abused child begins to regain a sense of self-confidence and trust. Child abuse is a matter of degree: the degree to which a parent uses inap-propriate or excessive control strategies with a child and/or fails to provide standards of care giving. In fact, abusive parents often do not know they are abusive. Our culture has, for generations, used corporal punishment as a means of controlling child behavior. Some parents think society places no restraint on such techniques. Many may recall the old saying, "spare the rod and spoil the child." It is not always clear what the limits are in efforts to get a child to behave. The best way to stop the child abuse and stop the abusive parents from abusing their children is by forming a non-profit organization working in cooperation with U.S. Dept. of Welfare , a resource for children and families to report a child abuse and to search for the abusive parents and put a penalty on them. These type of organizations have worked considerably good in the other fields and I am sure that this solu-tion will work out fairly well. In this Article " The goal of NCMEC," The National Center for Missing and Exploited Children states that "The goals of the NCMEC: A private, non-profit organization working in cooperation with the U.S. Department of Justice, NCMEC is a vital resource for families and America's 17,000 law enforcement agencies in the search for missing children and the quest for child protection." In 1986, six youth and adult survivors of child abuse and neglect formed what

GEZ Petrol Station Essay

GEZ Bhd is the major oil company in Malaysia has conducted two main businesses, which is the fuel business and the convenience store business. Under the fuel business, the petrol stations sold Petrol Ron 95 (R95), Petrol Ron 97 (R97), and Diesel. Mr Aiman was as an Area Manager is responsible for directing the sales activities of more than twenty petrol stations in the northern region of Malaysia. They are having a difficulty to sustain in the business even though they are in the stable business segment and consistent in the long run. This is due to the lack of knowledge in finance and costing which is it contributed to the business failure. There were disadvantages associated with a petrol station that is the fuel business had a very low profit margin. It was important that operators manage their cash collection very well. Realising the importance of management accounting concepts, Mr Aiman believed that the dealers and their relevant staff should have the knowledge in cost accounti ng. In order to collect data and build financial model, Mr Aiman has sought the advice from Rizal, a trained management accountant. To begin developing a CVP model, Rizal has gathered the necessary data from Baron Service Station (BSS) which is the busiest petrol station in the city. The petrol station had four pumps for petrol and one for diesel and the total number of nozzle was 20. The model that he would develop could be applied by petrol station operators of the same category. Regarding this case, from the cost-volume-profit analysis, Rizal can find that the breakeven point which is how much sales the petrol station of this type should generate from each of the fuel products and the Selesamart. Mr. Aiman also can learn that the importance of differentiate between fixed cost and variable cost so that the petrol stations can sustain their profitable business and growth. DATA ANALYSIS 1. How lucrative is the petrol station business? To determine how lucrative is this business, we need to identified each component with detailed calculation of the income statement which is does include all the revenue acquired, fixed cost and variable cost that related to the both type of the business. Firstly, we required to understand the definition of each component. Fixed costs are defined as expenses that remain more or less unchanged irrespective of the output level or sales revenue, within the relevant period. By definition, there are no fixed costs in the long run, because the long run is a sufficient period of time for all short-run fixed inputs to become variable. Variable costs are defined as expenses that vary depending on the output level or sales revenue of a company within the relevant period. Generally, as a business’s output increases, variable costs also increase. The more products a business sells, the more money it spends on materials and manpower to produce those products. We categorized all the expenses into fixed and variable costs and calculate the net profits of Baron S ervice Station for year 2009. REVENUE VARIABLE COSTS FIXED COSTS INCOME STATEMENTS (Partial) As describe in the Calculation stated above, the total contribution margin of Baron Service Station consists of two parts, which are fuel business and SelesaMart business. Total contribution margin is RM1,166,341.94. Contribution margin of SelesaMart business is about more and less 20% of the total contribution margin, which means that SelesaMart business is doing well, in addition, profit of SelesaMart will be higher if it doesn’t need to pay a 5% royalty to GEZ. From the income statement we can interpreted that this business in lucrative enough with a good control of expenses and Cost related to the operation, where BSS could generate Nett Profit of RM 772,825.94 (Calculation as per as Attachment 1) 2. Since the margin on fuel business is very low (6%) compared to convenience store (20%), do you agree that the convenience store is subsidizing the fuel business? Firstly, the profit margin for fuel business is very low if compared to convenience store. The fuel business only gets about 6% of profit margin for year 2010. Profit = Sales – cost = 100% – 94% = 6% This is because GEZ Petrol only gain a few portion of profit from the sales of each litre of Ron 95, Ron 97 and Diesel. Below is the profit for each litre of fuel sold by GEZ Petrol Station and the profit margin for each type of fuel. Products Price per litre Cost per litre Profit per litre Profit margin (%) Ron 95 RM1.80 RM1.6856 RM0.1144 6.36 Ron 97 RM2.05 RM1.9356 RM0.1144 5.58 Diesel RM1.80 RM1.7388 RM0.0612 3.40 Besides that, the petrol station also cannot increase the price even though the government increase the price of fuel. In the short run, the margin per litre would remain the same. For example, if the government announced there would be a 40 cents increase in the price per litre, then, operators also have to pay 40 cents higher. So, the profit margin will not increase. Products Price per litre Cost per litre Profit per litre Profit margin (%) Ron 95 RM2.20 RM2.0856 RM0.1144 5.20 Ron 97 RM2.45 RM2.3356 RM0.1144 4.67 Diesel RM2.20 RM2.1388 RM0.0612 2.78 From the above calculation, it shows that the profit margin will not increase due to increase in price.   Although the profit margin for fuel business is lower than profit margin for convenience store, but the revenue gain from fuel business is far better than convenience store. For example, from the monthly average sales of RM 1.7 million; where the large portion of this amount is come from fuel business (RM 1.6 million from the revenue), while only RM 0.1 million comes from convenience store. In addition, in year 2009, the sales revenue of the petrol station is RM 20,682,189.60 and about RM 19,251,897,60 of the amount comes from fuel business; which is approximately 93.08% (RM 19,251,897,60/ RM 20,682,189.60) of the revenue. While, only 6.92% (RM 1,430,292/ RM  20,682,189.60) comes from convenience stores. So, in this situation, it show that the fuel business itself are able to sustain the business of petrol station even without convenience store because the convenience store o nly contributed a little portion of their income. Other than that, most of the customers who come to petrol station are to refuel rather than shop at the convenience store. Only a few customers will buy at their convenience store because if someone wants to buy foods or other daily needs, they will prefer supermarket as they have more choices compare to convenience store. So, large portion of revenues or income that flow into the company is from the sales of Ron 95, Ron 97 and Diesel. Even though the profit margin for fuel business is small but the revenue is far better compared to convenience stores. Therefore, the convenience store is not subsidising the fuel business instead both fuel business and convenience store had contributed to sustainability of GEZ Petrol Station. 3. If the government raised the RON95 price to RM2.10, do you anticipate the profitability of the business will be eroded? If the government raised the Ron 95 price to RM 2.1 per litre, the profitability of business will be affected significantly. The changes of RON95 price from RM1.80 to RM2.10 per litre has incremental price of RM 0.3 per litre. In parallel, cost per litre of Ron 95 also will increase RM 0.2788 from RM 1.6856 to RM 1.9644 per litre due to estimation of cost on price proportion of 93.64%. Total Net profit for RM 1.8 (Ron 95) is RM 766,706.02 and had increase to RM 924,046.16 when Ron 95 price increased to RM 2.1. Net profit margin had increase from 3.71% to 3.98%. For Break- even Analysis, the increase of Ron95 price has indicate a better result which only required 3187559.208 litres/ RM 6,936,231.66 compared to 3618188.562 litres/ RM 7,015,784.34 to achieve zero profit. In overall, rise of Ron95 price by government will benefit GEZ petro station’s financial performance. It has higher profitability and capable to achieve Break Even Point with a lower output level compared to prev ious price which RM 1.8 per litre for Ron 95. Below are the changes of GEZ financial performance if Ron95 price changed. RON95 (79%) **Assuming the portion of fixed cost between Fuel business and Selesa Mart is based on the average sales of 2009 Price per litre RM1.80 Total Fixed Cost (RON95) Portion between fuel business and Selesa Salaries RM195,720.02 = 1.6/1.7 =94.12% Utility Cost RM35,550.00 94.12% of amount in fixed cost for fuel business Rental RM5,487.38 5.88% of amount in fixed cost for Selesa Mart Insurance Premium RM1,427.61 Stationeries RM1,784.52 Total Fixed Cost RM239,969.53 RON 95 Fixed Cost -Salaries Amount Salary(RM) Total per year Portion Fixed cost- Salaries Station Manager 1 3206 38472 0.9412*0.79 28605.78 Supervisor 1 1674 20088 0.79 15869.52 Cashier 3 950 34200 0.79 27018 Crew 12 812 116928 0.79 92373.12 Clerk 1 960 11520 0.9412*0.79 8565.67 General Worker 2 805 19320 0.9412*0.79 14365.35 Security Guard 1 1000 12000 0.9412*0.79 8922.58 Total 195720.02 Input changed: (Exhibit 3) Original Price New Price 4. If a credit card sale is reduced from 40% to 20%, what is the effect on overall profitability? Nowadays more and more people are using credit card in their daily life. People prefer credit cards because they are convenient to use and it is easier to take them instead of carrying a lot of cash. And if wallet or purse is stolen, we can simply call the creditor and close the credit card  account before anyone uses the card. In GEZ petrol station, petrol operators had to face was the increasing cost of credit card fees paid to bank as more and more of their customers were starting using credits cards. When a driver pays for gas with a credit card, GEZ petrol station must pay an average 1% of the sales price to the bank to process the payments. GEZ petrol station have accounted that the credit card sales are almost 40% of their total sales. Research are made to the Baron Service Stations ( BSS) , a petrol station that was located in a city, in the northern region of Malaysia. It was one of the busiest petrol stations in the city. In year 2009, BSS generated sales revenue of RM 19,251,897.60, 40% of the revenue RM 7,700,759.04 was come from credit card sales and the bank will charge RM 77007.59 from the credit card sales. Those fees are so high, it already slim profit margins and made it hard for stations to make money on gas sales. Otherwise when the credit card sales is reduce to 20% of the revenue RM 3,850,379.52 was come from credit card sales and the bank will charge RM 3,850,3.80 from the credit card sales. For details as below: Credit Card Fees (40%) Product Sales (Litres) Price/Litres Total Revenues Ron 95 8,459,604.00 1.80 15,227,287.20 Ron 97 174,576.00 2.05 357,880.80 Diesel 2,037,072.00 1.80 3,666,729.60 19,251,897.60 Usage of Credit Card 40% 7,700,759.04 Credit Card Fees Charges 1% Credit Card Fees 77,007.59 Credit Card Fees (20%) Product Sales (Litres) Price/Litres Total Revenues Ron 95 8,459,604.00 1.80 15,227,287.20 Ron 97 174,576.00 2.05 357,880.80 Diesel 2,037,072.00 1.80 3,666,729.60 19,251,897.60 Usage of Credit Card 20% 3,850,379.52 Credit Card Fees Charges 1% Credit Card Fees 38,503.80 Baron Service Station Partial of Income Statement for Year Ended 2009 (20%) Fuel Business Selesa Mart Revenue 19,251,897.60 Revenue 1,430,292.00 (-) Variable Cost Raw Material Cost 18,139,478.60 Evaporation Losses 83,613.27 COGS 1,144,233.60 Credit Card Fees 38,503.80 Royalty 71,514.60 Contribution Margin 990,301.93 Contribution Margin 214,543.80 Total Contribution Margin 1,204,845.73 (-) Fixed Cost 393,516.00 Nett Profit 811,329.73 Based on the calculation above, when the credit card sales been adjusted from 40% to 20% it will affect the overall profitability of the company. The income statement showed the increase of net profit from RM 772,825.94 to RM 811,329.73 of RM 38,503.79.When the credit card sales decrease, a 1% fees was charged by the banks also will reduce and this effect the variable cost for the company from before change cost is RM 18,300,099.46 to after change cost of RM 18,261,595.67. The difference between both of the cost and company managed to save is RM 38,503.79. The increasing of the amount in using credit card to make payment in the  petrol station will also increase the cost of credit card fees that need to pay to banks, indirectly it will give effect to the profitability of the station. The profit of the station will decrease due to the increasing of cost. If increasing of customers chooses to make payment by cash instead of credit card, then the profitability of the petrol station will increases, because the extra cost on the credit card sales that they bear will be reduce. To cover the problem, petrol stations can shift the cost of credit card charge by charges back the customer when they use cards. However petrol stations need to take risk that they maybe will losing customer. Customer maybe will decide to change to other petrol stations that do not have any charge when they use credit card to make payment. Petrol station also can offer a cash-only discount. This may attract more customer make payment by using cash. 5. What is the appropriate basis to allocate the cashier cost between four products Ron 95, Ron 97, diesel and SelesaMart? To assign the costs of products, we use cost allocation as it is a tool that can helps manager to track the cost that associated more efficient. Costs are allocated to obtain desired motivation because it sometimes made to influence management behaviour and thus promote goal congruence and managerial effort. Instead, it is used to compute income and asset valuations and to justify costs or obtain reimbursement because sometimes prices are based directly on costs, or it may be necessary to justify an accepted bid. From the information given in the case, GEZ petrol station conducted two main business which is the fuel business and the convenience store business, known as SelesaMart. Since GEZ provide joint provide, thus the appropriate basis is sales value at split-off point. The table shown below is the summary of monthly average sales. PRODUCTS SALES PROPORTION AMOUNT Fuel Business 94.12% RM 1,600,000 Petrol Ron 95 79% RM 1,264,000 Petrol Ron 97 2% RM 32,000 Diesel 19% RM 304,000 SelesaMart 5.88% RM 100,000 AVERAGE SALES (monthly) 100% RM 1, 700,000 Table 5.1 Monthly average sales in 2009 The total monthly average sales given is RM 1,700,000 with RM 1,600,000 was generated from the fuel business and the remaining from SelesaMart which in RM100,000. The highest contribution in fuel business in Petrol Ron 95 with RM 1,264,000 and follow with Diesel which is RM 304,000 then Petrol Ron 97 with RM 32,000. Then, we need to calculate total revenue for R95, R97, Diesel and Selesamart. Thus we multiply sales per litre with price per litre to get the amount of revenue. As stated in the case the sales revenue that BSS generated is RM20,682,189.60 that are comprise RM19,251,897.60 of fuel sales and RM1,430,292 of SelesaMart sales. The calculation can be summarizes as the table shown below : R95 R97 Diesel SelesaMart Sales (Litres) 8,459,604 174,576 2,037,072 – Price per litre (RM) 1.80 2.05 1.80 – Revenue RM15,227,287.20 RM357,880.80 RM3,666,729.60 RM1,430,292.00 Percentage (%) 73.63% 1.73% 17.73% 6.92% Table 5.2 Total revenue and percentage For BSS, they can allocate more cost to Petrol Ron 95 since it contribute the highest revenue which is RM 15,277,287.20 continue with Diesel with RM 3,666,729.60. For Petrol Ron 97 and SalesaMart, BSS can allocate less cost since it contributed only RM357,880.80 and RM1,430,292. In BSS there were two cashiers working at the sales counter. One will concentrate on the fuel transactions, and one for the shop, even though they handle both transactions at times and overall there were 6 cashiers working for BSS. Monthly salary per person for the cashier is RM950. So BSS shall pay RM5,700 to their 6 cashiers and RM68, 400 in annually. The appropriate basis to allocate the cashier cost between the four products RON95, RON97, diesel and SelesaMart is we calculated the revenue for the four products and we divided with the total sales to find the percentage for each products. So the percentage for product RON95 is 73.63%, RON97 is 1.73%, diesel is 17.73% and SelesaMart with 6.92%. The total revenue for Petrol Ron 95, Petrol Ron 97, Diesel and SelesaMart is RM20, 682,189.60. After we find the percentage, we calculated the cashier  cost for each product. To find the cashier cost, we multiple the percentage with the total annual salary for the cashier which is RM 68,400(RM 950 x 6 x 12). The result is, for the product RON95 the cashier cost is RM50, 359.58 followed by RON97 is RM1, 183.58, diesel is RM12, 126.58 and SelesaMart is RM4, 730.25. The total cashier cost is RM68, 400. The calculations can be summarize as shown in table below : R95 R97 Diesel SelesaMart Percentage (%) 73.63% 1.73% 17.73% 6.92% Cashier Cost RM50,359.58 RM1,183.58 RM12,126.58 RM4,730.25 Table 5.3 Percentage and cashier cost The choice of method for allocating common costs should depend on the ease of application, the perceived quality of information reported to external parties, and the perceived fairness of the allocation when multiple product managers are responsible for joint products. However, as discussed above, the allocation of common costs is arbitrary, and no method is conceptually preferable to any other method. All methods of allocating common costs across joint products are generally useless for operational, marketing, and product pricing decisions. 6. Is utility cost fixed or variable? What difference does it make to the breakeven point of Ron 95 if it is classified as i) fixed cost, and ii) variable cost? In our opinion utility cost is fixed cost. This is because,  the cost will be relatively the same as it was used for all the time. This cost wont effect the unit sold even though it not used. Utility cost as FC Utility cost as VC BEP (RM) 5,024,702.71 4,154,075.59 BEP (UNIT) 2,791,501.50 2,307,819.77 If the utility is fixed cost, the Break Even Point in RM is higher compare to the utility cost as variable cost. Same goes to the Break Even Point in Unit, which is the utility as fixed cost is higher compare to the utility as variable cost. CONCLUSION Regarding this case, from the cost-volume-profit analysis, Rizal can find that the breakeven point which is how much sales the petrol station of this type should generate from each of the fuel products and the Selesamart. Mr. Aiman also can learn that the importance of differentiate between fixed cost and variable cost so that the petrol stations can sustain their profitable business and growth. If the utility is fixed cost, the Break Even Point in RM is higher compare to the utility cost as variable cost which is RM5,024,702.71 compared to RM4,154,075.59 . Same goes to the Break Even Point in Unit, which is the utility as fixed cost is higher , 2,791,501.50 compare to the utility as variable cost 2,307,819.77 To assign the costs of products, we use cost allocation as it is a tool that can helps manager to track the cost that associated more efficient. Costs are allocated to obtain desired motivation because it sometimes made to influence management behaviour and thus promote goal congruence and managerial effort. Instead,  it is used to compute income and asset valuations and to justify costs or obtain reimbursement because sometimes prices are based directly on costs, or it may be necessary to justify an accepted bid. From the information given in the case, GEZ petrol station conducted two main business which is the fuel business and the convenience store business, known as SelesaMart. Since GEZ provide joint provide, thus the appropriate basis is sales value at split-off point

Human Resources & Labor Unions

The Impact of Labor Unions in the Hospitality IndustryAbstract Labor Unions in the United States have protected employee rights and benefits for several decades. Human Resources play an essential role in the work place in dealing with labor unions. Unions represent thousands of workers and employees throughout the nation in an effort to fight for human rights and equality in the work force. Negotiations are then met through the dedication of these unions that allow for a company to provide higher wages, adequate benefits, and better working conditions to employees around the world.This document will explain the importance of unions and the role they play in today’s economy and work force and how a business can remain union free. Introduction When deciding on which career path to take and what corporation to work for doing substantial research on benefits, wages, and the working conditions of that particular company is essential. What most people do not realize is what it took for those benefits to be created. History reflects the changes in employee benefits and working conditions back to the 19th century.During this time farm workers began working in mines and factories facing terrible working conditions and health risks. Women and children also worked under the same conditions with lesser wages. In an attempt to fight against these working conditions, workers would gather to strike and protest for change and to be a voice for their communities. The effects of these protests and strikes in the work force made way for the Industrial Revolution allowing for the birth of labor unions.Labor unions are organizations formed by employees and workers around the world from various industries. The unions unite in an effort to bargain and protect employee benefits, wages, and fight for better working conditions. Today, several unions are in existance in mutliple industries to protect employee rights and work hand in hand with human resources managers. One union, f or example, is the Hotel Employees and Restaurant Employees International Union (HERE), that united with the Union of Needletrades, Industrial, and Textile Employees (UNITE) to create UNITE HERE.UNITE HERE is an organization that protects members in the hospitality industry and is in conjunction with The American Federation of Labor and Congress of Industrial Organizations, also known as AFL-CIO. The ALF-CIO is the largest federation of unions representing workers in the hotel, gaming, food service, manufacturing, textile, distribution, laundry, and airport industries. UNITE HERE has fought to create jobs and change low-wage jobs to higher paying jobs within these industries. (â€Å"Unite here, 2012†) Human resources practices have advanced since workers began to unionize.Managers were now challenged with the demands of labor unions and were forced to face union representatives rather than dealing with employees directly about issues such as wages, benefits, and grievance. Th e struggle between labor unions and companies still continues and it is in the convenience of both unions and corporations to have an understanding and functional relationship with one another for peace and equality within working quarters. The History of Labor Unions â€Å"Workers in the United States are facing a number of difficulties,† said Daniel J.B. Mitchell, a professor emeritus of public policy at UCLA. â€Å"Job security, healthcare, retirement funds — we haven't seen such levels of uncertainty since the Great Depression. † (Lazarus, 2012) Dating back to the 19th century, this is when businesses began to change from household agriculture into the mining industry and machine operated labor factories. Due to the changes and intense job conditions labor unions began to form in an effort to bargain for better rights. Strikes took place, resulting in conflict between workers and employers.The most influential of the unions being created at the time was the American Federation of Labor union due to its focus on higher wages and improved working conditions for its members. Miners in the mining industry were faced with long working hours, unsafe working conditions and were poorly paid. Most lived in company towers where doctors, schools, and law enforcement were provided by the actual companies in an effort to control the workers. â€Å"Companies maintained an oppressive working environment, prohibiting workers from talking or gathering, to discourage the creation of unions. (Habashi, 2011) In 1890 the Unite Mine Workers of America was founded representing workers in the mining sector that fought for collective bargaining. During 1933 and 1936, President Franklin Roosevelt’s â€Å"New Deal† was created protecting the rights of labor unions and prohibited employers from firing workers who took part in union activities. Labor Unions Today The work force has become extremely competitive over the past decade due to the drop in the economy. Union members are found to be in an advantage being that in some cases they earn a higher wage than a non-union worker.But this higher salary does not mean regular pay raises. (Sherk, 2009) The Hilton Hotel in Glendale, California is one prime example of the impact unions can have on workers today. For over a year a group of 30 or more employees from the hotel met in secrecy in an effort to form a union against the hotel’s low wages, overworked staff, and unorganized labor. This would become an almost four year battle against the Hilton Hotel. In 2005, with the help of UNITE HERE, the Rising Workers Campaign was launched against the hotel.Hilton attempted to soften the matter and come to an agreement by offering 50-cent pay increases and a promotion to a cook to become a kitchen key leader. This was not enough for the workers. What Hilton in Glendale did not know was that UNITE HERE had signed a national neutrality agreement with the Hilton Corporation in 2006, but it only applied to sites Hilton actually owned and operated. Because the Hilton in Glendale was a separate entity owned and operated by Eagle Hospitality, which ran 12 other hotels across the country, UNITE HERE went in for a boycott of Eagle Hospitality properties instead.Picketers targeted Eagle Hospitality hotels across Los Angeles weekly for 18 months until a settlement was agreed upon. â€Å"From that day on the whole hotel changed,† [Angela Reid – a bartender at the Hilton] said. â€Å"It wasn't even the same hotel anymore. † (Gaus, 2008) Another example of how unions impact the work force is with the Industrial Workers of the World Union (IWW) and it’s involvement in supporting all industries. Industrial Workers of the World believes in organizing all workers by producing the same goods or providing the same services into one union, rather than dividing workers by skill or trade. â€Å"About the IWW,† 2011) Industrial Workers of the Worl d began organizing Starbucks Workers Union (SWU) in 2003. Starbucks Workers Union unlike other unions is an example of solidarity unionism, meaning they take direct action against Starbucks Company without involvement from the government or a union representative. The Starbucks Workers Union has done just that successfully. (Tanyeri, 2011) â€Å"Working together, we have won improvements in wages and working conditions and remedied individual grievances with management. (â€Å"Starbucks workers union,† 2012) Labor Unions and Their Impact in the Hospitality Industry A major labor union impacting the hospitality industry is UNITE-HERE. This is the Needle Trades Union (UNITE) and the Hotel and Restaurant Employees Union (HERE) that merged together to fight for the rights of the workers in the hospitality industries. The hotels and casinos, and restaurants, etc. , in hospitality industry argue that UNITE HERE is unlawful at times. They claim that some of the UNITE HERE actions r ange from harassment to criminal.The invasion of private property and increased noise level by picketers is something the companies argue against. â€Å"Union representatives can come to the office and demand to see the higher-ups. No law says they have to be let in. † (Howe, 2012) UNITE HERE’s ultimate goal is to help as many people as possible. D. Taylor, Secretary-Treasurer of the Nevada Culinary Workers Union and executive committee member of UNITE HERE, interviewed with Casino Journal about his outlook for the economy and the hospitality industry during the ongoing recession the United States has faced.He touches on health coverage and agrees that every individual can surely pay for their own private health coverage given they were employed. With the amount of workers being laid off though, how are they supposed to manage these costs he asks. Also, with the amount of workers being laid off in an effort to save on labor costs, how are businesses supposed to offer a dequate customer service. â€Å"It’s a real dilemma,† says Taylor. (Taylor, 2009) On the other hand, UNITE HERE not only supports workers in fighting for their rights, it also launched a public website in an attack against Motel 6 franchises.UNITE HERE stated that Motel 6 was falling short of service standards and accused them of not having the ability to survive in this industry. Motel 6 replied in defense of their corporation stating that they have good standing relationships with their franchisees and will continue to grow in the years to come. They feel attacked by UNITE HERE and even stated having opened 50 new franchises in the year 2008. (â€Å"Unite here raises,† 2009) The impact that unions can have in the hospitality industry as any industry can range from positive impacts for workers and negative impacts on business.How to Remain Union Free â€Å"The time to communicate openly and treat employees the right way is every day,† says Rick Van Warne r, senior partner and principal at Parquet Public Affairs in Orlando. Warner’s theory is quite simple and direct. He states if union laws and agreements are automatically followed companies do not risk attacks from workers and unions. His advise on remaining union free is to establish an open communication with management and employees. He advises to never assume all management is treating staff fairly. Observation is key and constant communication.Explaining employee costs and benefits regularly is also essential because again assumption that the staff knows this type of information is not recommended. Opportunities for job advancement within a company and offering safe and non-intimidating working conditions will keep employees happy and allow them to feel that they also have a voice at their work place to discuss any matters that may arise. (Tanyeri, 2011) Summary Labor unions throughout the course of history have played an integral part in the business world and protectio n of employee rights.Beginning with the 19th century and the worker strike forces, the progress in employee rights over the past century has drastically improved. Labor unions are here to protect the rights of workers and be a voice so there is not any wrong doing on behalf of a business. Maintaining a clear understanding and functioning relationship with union representatives is in the best interest of the business and human resources management. By having an established understanding and abiding by union labor law companies avoid accusations from unions and workers.Employees will remain happy and grow productively with the help and support of their employer, which usually results in a flourishing business. Conclusion I believe that unions offer a positive balance in the business world. Without unions the exploitation of workers would still exist. It takes a higher force to fight for protection of human rights and see results. The progress of employee benefit packages and wages has come a long way just in the past decade alone. As an active employee in hospitality for the past 10 years wages alone have risen.The history in labor unions set a stepping-stone for our society in creating confidence amongst our generation to protect our rights as workers. In my research, I found it very devastating to learn the living and working conditions workers had in the 19th century. It made me feel extremely fortunate to be a part of this generation and have the opportunities given to me in our society. Companies still have a long way to go, but as Van Warner mentioned in my last article section, the time to treat employees right is everyday.If businesses would stop the ultimate focus on the worth of a dollar for profit only and put some of that effort into staff and working environments it would only result in an employee taking pride of their job. A happy employee means excellent customer service, which brings in returning customers and increased revenue. The earlier case with the Hilton Hotel in Glendale, California is a result of faulty practices by management. The staff was not happy. They did not feel well compensated or valued for their work. And with the case of theMotel 6, they received bad media for not following through with the service standards they are required to abide by. Remaining union free may take effort and even money, but in the long shot is only in the benefit of the business’ longevity in the work force. Overall, in the years to come there will be new laws and hopefully more improvements to our working industries and especially the hospitality industry. References * About the iww. (2011, July 3). Retrieved from http://www. iww. org/en/about * Taylor, D. D. (2009). Keeping up the Fight. Casino Journal, 22(6), 28-29 * Gaus, M. 2008, After four years of struggle: Hotel workers rising campaign pays off in L. A. Labor Notes, (352), 5-5. http://ezproxy. fiu. edu/login? url=http://search. proquest. com/docview/203683040? accoun tid=10901 * Habashi, F. (2011, February). Social problems in the mining industry – a historical essay (part 1). CIM Magazine, 6(1), Retrieved from http://www. cim. org/bulletin/bulletinlive/articles_print. cfm? Issue_ID=992&Type=1&row=2&Segment_ID=46&hide=1 * Howe, J. T. (2012, March). When your venue faces union trouble: peaceful gatherings are the ultimate goal for all.Meetings & Conventions, 47(3), 26. Retrieved from http://go. galegroup. com/ps/i. do? id=GALE%7CA283705823&v=2. 1&u=flstuniv&it=r&p=PPTH&sw=w * Lazarus, D. (2012, April 27). As its power wanes, is there a future for organized labor? . Los Angeles Times . Retrieved from http://www. lexisnexis. com/hottopics/lnacademic/ * Sherk, J. (2009, May 21). What unions do: How labor unions affect jobs and the economy. Retrieved from http://www. heritage. org/research/reports/2009/05/what-unions-do-how-labor-uni ons-affect-jobs-and-the-economy * Starbucks workers union. (2012). Retrieved from http://www. tarbucksunion. or g/about * Tanyeri, D. (2011). How to stay union-free. Restaurant Business, 110(11), 50. * Tanyeri, D. (2011, November 1). Unions rising. Retrieved from http://web. ebscohost. com/ehost/pdfviewer/pdfviewer? [email  protected]&vid=1&hid=24 * Unite here. (2012). Retrieved from http://www. unitehere. org/about/ * UNITE HERE Raises Questions About the Competitiveness of Accor's Motel 6 Franchise. (2009, January 13). Business Wire. Retrieved from http://go. galegroup. com/ps/i. do? id=GALE%7CA191957986;v=2. 1;u=flstuniv;it=r;p=PPTH;sw=w

Memorandum: Net Present Value and Apex Investment Partners

MEMORANDUM To Apex Investment Partners: According to my analysis of the Accessline’s proposed term sheet, I do not believe that Apex would serve its own interests, or those of its investing partners, by investing in Accessline according to the terms proposed. By investing at the proposed valuation, according to the proposed control and incentive structure, Apex would be shouldering a disproportionate share of the risk should Accessline fail to meet its performance targets, or require fresh inflows of capital from future investment rounds.Nor can Accessline take the sort of steps necessary to protect its investment in the case of management failure. Should Apex make a counter-offer, I would suggest the following terms: Valuation: Accessline’s projected revenues in 1999 are $208m. Using the average price/revenue ratio of 3com and Boston Technologies, it seems reasonable to expect an IPO valuation at 3. 67 times revenues, producing gross proceeds of $764m with a present va lue of $116m (using our 60% discount rate).Assuming that Accessline meets this revenue target, and that no future funding is required, Apex will take a slight loss on its required rate of return, barring the voluntary distribution of the dividend from the board of directors, on which we are not offered a seat. The present price per share at such an exit would be approximately $7. 84. However, given Accessline’s historical burn rate, it seems unreasonable to expect the $16m investment produced in Series B to last Accessline until 1999.Assuming Accessline will need another $32m to reach its revenue targets by 1999, Apex takes a much more severe loss relative to its required rate of return. The present price per share at such an exit, assuming the new shares are also offered at $8 per share, would be $6. 18 per share. I therefore suggest using $6 per share as a point for a new valuation of the company, assuming the inclusion/revision of terms as described below. Rights and Prefe rences Apart from the valuation, other elements of the term sheet must be adjusted to allow Accessline to protect its interests and motivate or replace management in the case of performance failure.First and foremost, Apex must insist on the right to elect one director to the board. Series A investors already have one seat, and the current voting clauses allow Series A to effectively retain control of decision making by requiring 2/3rds majority for many key decisions. Should future funding rounds be required, those investors may insist on seats on the board. Apex must remove antidilution protection from employee shares, as this removes a significant incentive for employees and management to reduce Accessline’s burn rate.However, as Series A investors retain a veto over the deal, their shares must be allowed to retain anti-dilution protection. Additionally, we may propose a point at which additional investment rounds (above and beyond $32m of fresh capital) would cause diluti on of ESOP shares at an accelerated rate. Dividends should be made cumulative and issuable upon a liquidation event or an IPO. Such dividends may be converted, if the holder desires, to common shares. This will encourage management to seek a quicker exit. Liquidation preference must be strengthened in other ways.In my opinion, the current arrangement allows management and employees to receive unjustified returns in the case of a liquidation. I suggest a ratio of 1. 5 times the Series B purchase price, applicable to Series A shares, with the remainder to be distributed among Series A, Series B, and common shareholders/ESOP on an as-if-converted basis. In an IPO, Series B shares should auto-convert at a ratio of one-to-one at a target price of $12 until June 30th and $15 after June 30th 1996. After that, the targets must continue to ratchet upwards.The written consent of 3/4ths of Preferred shareholders could override this requirement while preserving Apex’s ability to veto aut o-conversion. This voting ratio should also be employed in the voting clause, since without it Apex lacks any ability to control future funding rounds. Series B must be allowed to redeem all of their shares upon the failure of Accessline to come within 5% of its revenue and income projections for 2 consecutive years. Alternatively, Apex could require that unvested management/ESOP shares be returned to Series A and Series B on a pari passu basis in the case of performance failure.Alternatively, Accessline could insist on a right to replace management in the case of this eventuality. Given the large number of competitors already present in the market, it is likely that if Accessline’s business fails, it will do so quickly and drastically. Negotiation considerations It is important to note that a counterproposal from Accessline that strengthens or enhances any of these provisions in Apex’ favor in exchange for a higher issue price of the Series B shares should be consider ed.However, there are limits to the premium we should pay for enhanced control, and firm limits for how far such control can be reduced. A board member and the voting rules are non-negotiable. The dividend and the autoconversion terms, however, are places in which we can demonstrate flexibility. At this price, with these changes to the term sheet, we are still exposed. Significant competitive, regulatory, or technological changes in the marketplace could quickly destroy Accessline’s profitability.This is, as it stands, a strong counterproposal that is bound to meet resistance from management and employees, but provided we preserve Series A’s valuation, I believe Series A investors will be inclined to allow us more control and latitude provided the performance requirements for management are strengthened. Since I believe our competitors will also propose lower valuations based on a view of these same numbers, we must act tactfully. Perhaps some sort of parachute can be arranged for senior management in the event of a takeover.

Apple Essay Example | Topics and Well Written Essays - 4000 words

Apple - Essay Example Due to this reason, tablets with the facility of mobile have appeared as perfect product which can satisfy the demand of customers (Infinite Research, n.d.). The smartphone and tablet PC industry is characterised by creativity, dependability and expandability. Smartphone and tablets are highly innovative products with trendy features where numerous factors can inspire the demand of this industry such as usage of internet among customers, increased competitiveness and delivery of smartphones and tablets among others. In this regards, the five forces model presented by Michael Porter is an excellent tool for assessing the smart phone and the tablet industry. Porter’s Five Forces Analysis Rivalry The smart phone and tablet industry is unstable and competitive which gives rise to considerable rivalry. In order to survive in this industry there is need for continuous development of new products and incorporate innovative technologies for encouraging customers’ demand. ... Due to international circulation of cutting edge technology, it is quite difficult for new organisations to enter into the highly competitive market of smartphone and tablet PC. Although it is easy for other organisations to develop device such as iPad, but in order to gain sustainability in the market, an organisation requires cost effectiveness too. Thus, unless new entrants in this industry gain higher economies of scale or higher market share, survival in this industry for the long run shall be quite challenging (James, 2009). Threat of Substitutes The threat of substitutes in smartphone and tablet PC industry is quite weak. The tablet PC and smartphone both act as an alternative product for notebook, computer and mobile phones. Through tablet PC and smartphone, people can enjoy the facilities of notebook, computer and mobile phones (James, 2009). Bargaining Power of Suppliers The bargaining power of suppliers is strong in smartphone and tablet PC industry. As this industry is as sociated with technology, suppliers play a vital part in providing inexpensive raw materials for production of finished products which can help organisations to gain cost competitiveness. Furthermore, smartphone processors are produced by only a few organisations due to which maintaining good relationship with those organisations become essential for accomplishing success in smartphone and tablet PC industry (James, 2009). Bargaining Power of Buyers The bargaining power of buyers in smartphone and tablet PC industry is moderate. The revenue of smartphone and tablet PC producers is derived by sales of product. In present day’s business context, buyers do not possess many alternatives but to acquire smartphone and tablet PCs. However, the power of buyer falls in switching the

Working Groups and Teams Essay Example | Topics and Well Written Essays - 500 words

Working Groups and Teams - Essay Example Within that group, teams may be formed to achieve specific tasks in the way of achievement of the overall goal of the group. Group is a larger term as compared to a team. Another fundamental difference between a group and a team is that individual members of a group do not need to have concern with the achievement of the other members of the group whereas people forming part of a team have concern with and are affected by the performance of other members of the team. Challenges of communicating in a team are more than those in a group. Groups normally have a well-established and organized system of communication. There is a process through which message is conveyed and received, e.g. through emails or letters. The challenge of communication in a group is that it is more time consuming as compared to communication in a team. For example, let’s suppose the member of a political group writes a letter to the chairman of the party. The chairman might take long to reply. On the other hand, people working in a team are generally in constant connection with one another. Even if they are working separately at different places, they communicate through cell phones. Since the performance of one team-member affects that of all others, team-members are concerned to maintain constant contact with one another. However, communication in a team is very challenging since the team-members develop friction among one another while constantly working together. â€Å"Conflicting goals can quickly turn into personal dislike† (Mind Tools, 2012). Team members become agitated, develop attitude problems, and enter into dysfunctional conflicts. These team members avoid talking to one another and if they have to, there is always a risk that the conversation might end up in an argument. Effective collaboration within teams is more difficult to achieve as compared to the groups. The leader of the group can generate a

Review and analysis designers in Objectified A documentary film by Movie

And analysis designers in Objectified A documentary film by Gary Hustwit - Movie Review Example Such an understanding, for designers, should weave into nearly all areas of human interest. This position reinforces the view that designers should seek to create solutions through their products and to meet the material and non-material needs of the consumers. Material goods and design products are embraced as aspects of culture in the sense that they create a sense of identity to the targeted consumers (Lipton 116). Perhaps it would be necessary to regard the mixture of the designers within the broad subject of globalization and the liberalization of market. According to the various speakers in the documentary, many of these designers are driven largely by forces beyond their creative impulse. The documentary provides various examples where designs have evolved in response to certain difficulties or a shift in preferences within cultures, groups, or communities. The design of kitchenware, for instance is largely conditioned by matters of convenience. Basing on the opinions supplied by various speakers in the documentary, it is important for designers to seek an understanding of various cultural aspects that determine people’s values and practices. Such an understanding enhances the capacity of designers to develop products that respond to the specific needs of populations. The Japanese are cited severally and variously as people with close attachment to their culture. The Japanese designers often tend to infuse cultural aspects into their product in a manner that balances the cultural aesthetics and the utilitarian value of the products (Ashoraft 2). On this score, it becomes important to consider the cultural forces that provide the creative synergies of products from Asia and other parts of the world. Moreover, the documentary provides evidence that designers have to rely on the outside world and the needs of the markets and targeted end users to develop products that meet specific objectives. Designers have to work together with