Organizational Behavior, Science, The Real World And You

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Jane Austen s Pride And Prejudice - 1450 Words

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Tender Pricing Process for Accommodation Building Free Essays

string(49) " working process depending on the time and cost\." INTRODUCTION This assignment has been concise five main tasks through different topics related to cost estimation. The focuses of estimating for selected areas in a proposed accommodation building, tender pricing techniques, build up unit rates for selected descriptions from BOQ are discussed through the sub tasks. Especially the parties participating of involved in pricing for a particular project and factor to be consider when pricing for a tender sum also identified and clearly discussed further, such as site over heads, head office over heads, subcontractor, suppliers, and the discounts for the performance of suppliers, subcontractors and the client. We will write a custom essay sample on Tender Pricing Process for Accommodation Building or any similar topic only for you Order Now At the time of build up rates for given descriptions the cost information and the current market price for components of the description take place as a challenge, so those are collected from site people and dealer of the material and the summery of the items which are related to the tasks also attached for further clarifications. TASK 1 1 Describe the tender pricing process of above tender. This is the tender pricing process given below Receipt of invitation to tenders Decision to tender Collection of tender documents Examine tender documents Collection of necessary document Preparing necessary documents Tender adjudication submission of tender Receipt of invitation to tenders Ministry of health advertise this invitation to tender for batticalo government hospital two story patients building in srilankan public news paper. Our company got this information â€Å"veeracasari† daily news paper. They are published in news paper because this is open tender. If anyone have the enough qualification they can participate the tender. Decision to tender On receipt of tender documents a tender information form should be completed by the estimator acknowledgement on receipt of the enquiry should send to the client or his consultant. This form will provide management with the summary of the project the tender documentation it will be a significant document contributing the decision of the submission of the tender Collection of tender documents We get the tender documents form ministry of health .these are some tender documents Tender notice / Invitation to tender , condition of tender / Instruction to bidders , Form of agreement, Conditions of contract and appendix to condition of contract, Form of tender , Drawings, Bonds Bills of Quantities / Specifications / Schedule of rates , Schedules. Examine tender documents The estimator must inspect the tender document before the preparation of the net estimate and the check list must be establish of the documents receipt. Inspection of the tender document must seek to achieve the following objective The documents received are those in the enquiry Sufficient time is variable for production for tender The documents and information are adequate for assessing costs Collection of necessary document We must collect the price list of the materials, plats haring rate , labour rate. We should get the cortation form the material suppliers. We must calculate the total cost of this two story hospital building . Preparing necessary documents We must prepare financial statement of our company, work programmed, method of statement , site origination chart , bid bond and pricing of bill of quantity. Tender adjudication First we must estimate the cost and decide the markup percentage. After that adding that markup percentage to estimated cost. Then used that final cost in to the tendering purpose Submission of tender Tenderers must lodge their tender with full identification and documentation at the nominated location by the advertised date and time. The estimator must ensure that the procedure set out in the tender documents for the submission of the tender is followed particularly. The form of tender and any other declarations, must be completed as required and sign by an authorized person from the contractor’s organization. The codes of procedure for selective tendering, whether for main contractors, state that a tenderer who submits a qualified tender should be given reasonable opportunity to withdraw his qualifications without amendment of his tender price. 1.2 explain the factors that need to be considered in pricing the proposed project .describe related factors only to the given project Special conditions or instructions given by client In the batticalo hospital client’s ministry of health. This is a hospital building because this is not complicated design. But in the apartment construction, designing is very complicated. Comparing the hospital construction and apartment construction take more working hours. It’s very easy to construct hospital constructions than the other building constructions . Availability of material, labour, plant, technology Availability of resource one of the main consideration factor during the pricing time. Because in the construction field, it is totally depends on the material, labour, plant and technology. In hospital construction materials availability is lower than the other construction materials. So we have to find the suitable suppliers find the competitive quotation and select one from them and price the tender for competitive price. In our hospital construction is two story building because no need for higher plant we need the normal plant only We can get the plant for the construction cheaply. Any how the estimator duty is according to the contract chose the correct price and pricing tender. And also more than these availabilities. Location Location is one of the important consideration factors in the pricing of tender. Because in the location we consider the many things like the transport facilities, availability of material, labour and plants, storage, weather conditions, etc. Our location is situated in thebatticalo. So we can easily find material labour force there. We can’t find huge plant facilities from that area. So this cost will be affect in the pricing of the tender. In the storage site facilities is the other important factor in here. We can easily find the storage facilities in the near area. The storage facility cost will low than the city so it’s an advantage for us in the storage cost. Construction period and maintenance period At the pricing time, estimator should consider the construction period and maintenance period of the building. Because the working process depending on the time and cost. You read "Tender Pricing Process for Accommodation Building" in category "Essay examples" In the hospital construction may the construction period is lower but the same kind of the work is here. In pricing time normally put more unit rate in short period contracts. Because the normal working process should be change and take some arrangement for this. In our case we cant used noise making instruction this is in the hospital because we always keep silence. After the construction we gave one year for the maintenance of the building. This is a hospital building because most people use this building because we must maintenance correct fully .because we need allocate more amount for that . Competition in the market While considering the market situation in these days the hospital construction is very rare in the market. All the construction companies cannot do this kind of hospital construction works. reason is client is ministry of health this is one of the government. Normally government they didn’t pay the money on time. So when the pricing time of the tender we can go some advantageous price. So we have to collect some money for this new works. And finally we have to request the management to put the high percentage of profit margin. By doing this we can earn a huge profit. This is government project because we don’t care about market competitions the reason is if we participate the tender we must rejecter in ICTAD. In batticalo most of the contractors they didn’t rejecter in ICTAD . Payment of structure We must considerate the payment structure. How much rupees they paid for advanced then when they make the second and other payment. We must conformed and fixed to the payment dates . Fluctuation We must conformed fluctuation allow or not . Now materials of the market price is suddenly going up and down. Market price going up this will be effect to the contractor. Market price going down this is good for contractor but effect to the client ( In our scenario client is ministry of health department ). Before tendering we must conformed these thinks. Type of contract In our scenario this is a lump sum type contract. Normally lump sum type contracted base on drawing and specification. In these type of contracted most important document is drawing and specification. Quantity surveyor must care fully read the drawing and specification do the calculation work care fully. Quantity surveyor make any mistake in the calculation part this will be effect to the contractors profit. 1.3) Explain what type of cost information you would use in pricing this tender and name the sources of such cost information Pricing this tender is the major part of preparation of BOQ. This procedure will be done by using different cost information. Do to this type of project we can get the cost details from an experienced person like a sub contractor who is specialized in this kind of hospital constructions. we can get the cost information by having a conversation with some suppliers or sub contractor too. There are some sources from that the information about the materials, labour and plant can be taken, Quotation–to get the sub contractor or supplier. If previous same project –if the contractor can be used the previous project experience, he wants consider the type of project; the previous project will be good experience for this current project to reduce tender pricing. Daily report. Price index – this is issues ICTAD in Sri Lanka. So to price this particular tender we can take the pricing information through quotation for suppliers and sub contractors. Because, this is a government project which is going to be with high quality and also we are specialized in any type construction we can go for quotations. The contractor’s success in obtaining contract depends upon  ­quality of the quotations received for materials, plant and items to be subcontracted. It is essential to obtain realistically competitive prices at the time of preparing the estimate. Standard procedures must be established setting to responsibilities of the person who is to carry out the enquiry function and any subsequent negotiations that arise. Lists of items for which quotations are required are established following the detailed exanimation of the contract documents. Details of past performance, previous performance in returning complete quotation on time, extent of geographical operation, size and type of contract on which previously used, information concerning contacts are considered when selecting sub contractors and this will be necessary if deal with unknown suppliers and sub contractors. Pre selection must confirm that quotations will be submitted and establish that the particular suppliers or sub contractors has the necessary resources and desire to tender for the project. The professional manner in which enquiries are sent to suppliers and sub contractors can have considerable effect on the qualityof quotations submitted. Objective of sending out enquires for supplier and subcontractor to labour, materials, and plant is to ensure that technically accurate quotations are received with the main contract conditions. This must clearly setout terms conditions on which quotations are being invited. All needed materials for this project shall be supplied from the selected suppliers. Enquiries to suppliers of materials must state these important factors: Title and location of the work, and site address Specification, class and quality of the material ,Quantity of the material Delivery programmed , Special deliver Date by which the quotation is required, Period for the quotation is to remain open. Conclusion In above task I am clearly indicate the tender pricing process of batticalo two story hospital building and clearly indicate some factors considering in pricing process of above construction project. Finally I am explaining how we can get the cost information using our tender and name of source such cost information. Task 2 2.1)What are the factors affecting pricing labour, material and plant items in day work Schedule? Labour The calculation for the prime cost of labour differs somewhat from that of the all-in-rate, various incidental costs, over heads and profit are deemed to be included in the percentage added to the prime cost rate by the contractor. The percentage added must include all other items that the contractor considers are necessary to cover the true cost incurred but not allowed under the definition of prime cost of day work. At the time of calculation following factors to be consider for pricing Wages :- wages depend on his talent (eg-special skilled ,skilled or un skilled) we must pay the wages his skill type only. Wage is different for every type. Transportation time :- The labour come to other site we must allow a percentage for his transporting cost. If this cost higher than the accommodation cost we can arrange the accommodation for labours we can reduce the anonymous cost. Overtime :- A labour normally working eight hours per day but our requirement he some time he working ten hours or eleven hours per day if he work eleven hourse per day over time three hours. These three hours per day we must paid 1.25 X one our wage. Subsistence allowances Social benefits (EPF, ETF) :- this benefits only for permanent labours only. Not for daily wage labours. Company will pay some percentage of his/ her salary and some percentage of his salary. These percentage is decided by labour department (Srilanka) Overhead :- we must add a percentage for over head. This is operating cost of the contractor head office. This is indirect expenditure. Superintendence Liabilities, Insurance and allowances for labours Material The contractor shall be entitle to payment in respect of materials used for day work at the rates in the contract documents, in the schedule of day work rates and such rates shall be deem to includes overhead charges, profit, cost and other expenses. Factors to be consider when the pricing are; Material cost: – material cost also effect the pricing of day work schedule. Wastages: – we must include some percentage for wastage. This wastage mostly affects the timber. Form work time timber wastage is very high. Our structural design is very difficult that time we make some molding for get required shape. That time timber wastage is very high. For example sand we un loading sand in our site we can’t use the total cube of material. When the storing time sand will mixed with bottom part of the land that sand mixed with other sand we can’t use that sand for construction works Insurances:- some materials we must take a insurance otherwise we may face huge problem. Here a am indicate a problem for example my home town is Jaffna. I am studied at Hartley College. The tsunami time (2004) our school built a auditorium for 1500 student. End of the year tsunami attacked Srilanka that time Jaffna also effect hugely. That time our school store they keep 500 bags cement. But they didn’t get the insurance. Those 500 cement bag fully destroyed. That project contractor face huge lost that time and he left that project. Some time he get a insurance he don’t care about this problem this a natural disaster because that insurance company they paid the full money. I hope This Is a good example for this insurance. Because we must get a insurance for required materials Handling expenses (loading, unloading, storing) :- whatever the material we are using at site those material has the loading and unloading process. If we are doing the estimation we must add a percentage for loading and unloading purpose. Some material we stored any wear but some material we must keep carefully for examples steel, tiles, cement, some expensive materials Losses:- if there theft happen we must parches that lost material because we must spent more money for that material for examples electrical fittings, other costly items Head office overhead:- we must add some percentage for head office over head. This percentage will decide by contractor. Profit:- this is a amount for contractor. This amount will be decide by contractor and add the amount in material cost. Plant The charge for plant is normally applied under ‘Schedule of basic plant charges’. The rates in the schedule are basic and may subject to an overall adjustment to be quoted by the contractor prior to placing of the contract. The rates apply to plant and machinery already on site, whether hired or owned by the contractor. If we are hiring a plant first we pay some amount for advance and guaranteed .our using time any troubles may occurred. If that trouble is minor work we must repair that problem. Otherwise they deduct some amount for that repair work. The rates unless otherwise stated , include the cost of fuel of every description; lubricating oils, grease, maintenance, sharpening of tools, replacement of spare parts, all consumable stores, and for license and insurance applicable to items of plant. They do not include the costs of drivers and attendants. The rates should be applied to the time during which the plant is actually engaged in day work. Whether or not plant is chargeable on day works depends on the day work agreement in use. Conclusion Before calculating the labour , plant, material we must know about what are the factors affect the pricing those item after that we can successfully done the pricing of labour, plant , material. Above task I am indicate some factors and clearly describe how to effect those calculations. I hope I am done my level best explain in above task. Task-03 Explain the reason for using particular method of pricing In my calculation part I am using norms. If we are using the norms no need to do the extra works for examples No need to calculating the wastage separately No need to calculate the shrinkage separately Our description is a standard because I am using norms directly. Task -04 4.1) Describe the preliminary items that could be required in implementing permanent works of this project. List out the items considered for calculation of head office over head and how you would calculate the over head percentage The pricing preliminaries of the bill of quantities are the estimator’s part in the preparation of a tender process. Preliminary means the items which are not included in the measured works section. The contractor’s general cost items, temporary woks, contractual matters; specific requirements of the employer will be included under the preliminaries. Preliminary section can be divided as fixed charges and time related charges. The description of the work as a whole and the circumstances in which it is to be constructed is intended to convey to the estimator an initial impression of the types of work involved, including any particular or usual features or conditions that are relevant. Bearing in mind, which accompanies the tender documents, the description required under this rule can be relatively succinct. I have identified the following preliminaries items that could be required forpermanent works of this proposed project. Management and staff , site accommodation ,insurance, engineers facility, performance bond, Advance guarantee bond, Services and facilities (Power, lighting, fuels, water, telephone facility, safety, health and welfare, security, storage facility ) ,Mechanical plant (Personnel transport, transport) ,Temporary works (Access scaffolding, Support scaffolding and propping ) Duration Project duration is important factor which is affect a project cost directly. Availability of material This project is in batticalo. If we get the most material in batticalo, we may be in a position to complete this work in a quick process. Also we may get the materials with acceptable price. That also will affect the pricing of preliminaries. Services and facilities Project time we must arrange the accommodation for Labours. If we arrange the accommodation we gave some belongs facilities toilets, electricity. This cost also affects the pricing of preliminaries. Staff accommodation While providing the staff accommodation, we are providing the all the staff for entire project period. But the reality sometimes staffs may be not needed for the entire duration of this project. That will affect the pricing the preliminary. Access of the site During the excavation period we have to bring large machineries. Therefore we need large access of the site to bring the large machineries. If we don’t have the large access we have to do other methods. That’s also affecting the pricing the preliminary. Staff vehicles Staff members travel head office to site office, site office to head office and other purpose we must arrange for a vehicle. If we hiring the vehicles for professional staff. we must paid for more money because we bought a new vehicle for our company that cost will affect the pricing of preliminary. This total price is increase that particular project cost will increase. Guarantees and bonds This is common for most of the projects, that client will requires some amount of money as a bond which to keep a good relationship between the two parties. A contractor normally pays a single insurance premium for this and it can be a very expensive item depending on the financial status and experience of the contractor. Testing material Throughout a contract the testing of materials may be ordered by the architect. That test costs can be taken laboratories. These requirements executed by the consultant which helps to maintain quality, standard workmanship of the works. It will also affecting the pricing the preliminary. In our project will be commencing atBatticalo . We can’t find a testing center Form Batticalo because we must brink required samples to Colombo that time traveling charge, Who brink that samples to Colombo that person welfare cost. These cost are including in the testing material. This cost also affects the cost of preliminaries. Pricing for maintenance of public and private roads Some contracts need provision for the repair of damage to existing roads by the builder’s plant and heavy vehicles continually passing over them. They must also be constantly kept clean and free of mud, building materials, debris and the like. Head office overheads The construction of the project must contribute towards the cost of running company’s head office and other general overheads of the organization. This consist of the cost of administrating a company and providing off site services the apportionment of head office over heads to project and to the company as a whole is decided by management as part of the management policy. Items considered for calculation of head office over head Head office salaries Director’s fees Office rent/depreciation of furniture Incidental insurance Heat, light, power, fuel Stationary Postage Books and telephone charges Auditor’s fees Staff vehicles Interest on working capital and retention money Head office over head percentage X 100 H/O % = total h/o expenses during previous year Total turn over during previous year Total turnover mean how much money come to the head office. These are some basic examples for turnover, interim payment resived from various client, advanced payment of previous project. 4.2) build up the management and supervision cost of this project. Clearly state the factors to be considered in pricing Establishment Running cost Disposal cost Total Assumption Site engineer-1 12X40000 Clerk-1 12X14000 Store keeper-1 12X12000 Supervisor-1 12X20000 Quantity surveyor-1 12X35000 Accountant-1 12X15000 Total -1632000 These are some factors directly link with the pricing of management and supervision cost. If we select the b.sc holder site engineer we must pay more money because we select next lower level best site engineer with more experience ( for example 5 years) we can reduce our monthly salary cost. We are selecting the professional people like this we can save lot of money. Conclusion In above task I am clearly indicted what are the preliminaries items required in permanent work of this our project and I gave some factors to calculate the head office over head and head office over head percentage. Task 05 5.1 Draft inquiry letter to A) M/s mascons ltd requesting prices of asbestos roofing sheets The Managers, M/s Mascons (PVT) Ltd, No 39, Inner fairline Rd, Dehiwala . 01.10.2010 Dear Sir, Quotation for Asbestos roofing sheets We are Raj engineering (PVT) Ltd, which is located in No 12A, Boswell place, Wellawattae. We have decided to tender for a project which is a two story hospital building in batticalo. According to our estimation we need 200 Asbestos roofing sheets 10’X4’ size. This project is going to construct in Batticalo area. As we know that your company has a branch in batticalo. As we are having a good relationship with your company for past 4 years, we decided to request the quotation from your company for this tender too. The materials we require on 1st of November 2010. We want the quotation within 14 days from the day you receive this letter. Also we kindly request you to include about your credit facilities, discount details, storage facilities and your best price for our requirement. Thank you. Yours faithfully, T.subaraj (Junior Q.S) B) M/s ABC tiles requesting rates for fixing tiles Dear Sir, Quotation for fixing tiles rate We are Raj engineering (PVT) Ltd, which is located in No 12A, Boswell place, Wellawattae. We have decided to tender for a project which is a two story hospital building in batticalo. According to our estimation we want fixed 10000 (300X300) tiles for 100000m2 area. Because we need a quotation for fixing tiles. This project is going to construct in Batticalo area. As we know that your company has a branch in batticalo. We have a good relationship with you; we decided to request the quotation from your company for this tender. We require on 1st of November 2010. We want the quotation within 14 days from the day you receive this letter. Also we kindly request you to include about your credit facilities, discount details, your best price for our requirement. Thank you. Yours Faithfully, T.Subaraj 5.2 Explain different forms of discounts given by the suppliers and how would you incorporate those discounts into your tender. Discounts Discounts are quoted or stated cost of which will deduct from the payment of the suppliers and sub-contractors. It is depend on the fulfillment of the conditions which asked specified in the contract for acquiring discounts. The purposes of the discounts are increase the short terms sales, move out of date stocks, reword valuable customers. Mainly there are two types of discounts, those are as follows; Cash discounts Trade discounts Cash discounts Cash discount is often given by the suppliers and sub-contractors to encourage early settlement of accounts. A statement is sent to the contractor at the beginning of each month listing the invoices for materials or services supplied during the previous month. If payment is made by end of the month, a settlement (cash) discount may be taken. These discounts are allowed off invoices if the contractor pay’s within a certain period. In the case of sub-contractors, the period is 17 days after issue of the architect’s certificate which includes the value of the invoice work or services. In the case of suppliers, the period is 30 days from end of the month during which delivery of materials or goods is made. If payment is not paid within the specified period, the contractor is not entitled to deduct the discount. For an example; the client pay his monthly payment earlier the contractor will be given some amount of discount for client, same think happening between main contrac tors and supplier, sub-contractors. Trade discounts Trade discounts are customarily allowed off the prices on standard price list of materials and goods in particular trades. This is often done to avoid frequent revision of such lists, the discounts being varied to allow for fluctuations in prices. In addition some suppliers will allow larger discounts to regular customers or those who buy large quantities. So the more the contractor buys he will get more amounts of discounts to a maximum amount provided by the supplier. Explanation of how to incorporate them into the tender Company nameSanan trade companyRaj construction companySuban trade company Cost of material170012002000 Discount5%20%10% Payment structure5% advancedNo advanced10% advanced Warranty5 years20 years10 years Trade name of materialKnownUn knownKnown Above table clearly indicate three different types of company’s details. In this case we can select sanan Trade Company for supply materials. If we are select that company we can get the 5% of discount because our tendering amount will be reduce. We can easy to win the tender reasonable cost. The main contractor is always expecting about the discount to use it in pricing the tender. If the main contractor knows the amount of the discounts from the subcontractors or suppliers, he can reduce the rate of the work in that tender. So the tender price may be reduced. This might be increased the chance to win the tender. That is why the estimator or being consultancy Quantity Surveyors should have a thorough knowledge about the discounts and should apply the discounts while he is pricing the tender. Conclusion I gained lot of knowledge about cost estimation through this assignment got idea about the tender pricing process, the factors that need to be considered in pricing a tender, the sources and nature of information for cost estimating, the factors affecting labour , material and plant rates, all-in-labour, material plant rates, unit rates that reflect the current local market prices for measured work items in a BOQ, preliminary, overhead costs in a bills of Quantities, the cost of site facilities to be provided by the contractors, prepare letters of enquires for supply of materials and subcontract services and different forms of discount .those are I gained through this assignment. I referred lot of books to do this assignment .I got idea through our batch mates to do this assignment. And also review was useful for me. in review time our lecture corrected my fall in the assignment so review was very useful. REFERENCE Ivor H.Seely, Quantity Surveying Practices, 2nd Edition Published by Palgrave Macmillan, 1997. RD Buchan, F.W. Fleming and J.R. Kelly ,Estimating for Builders and Quantity Surveyors ,1st Edition ,British library cataloguing in publication data,1991. The procurement committee of the charted Institute of building, Code of estimating practice, 6th Edition, Published by The charted Institute of building through Englemere services limited, 1997. Wills, Practice and procedures for the quantity surveyors, 12th Edition, Blackwell publishing. Jack Ramus, Arics and Simon Birchall, Contract Practices for Surveyors, 3rd Edition, Published by British Library Cataloguing in Publication Data, 1996. How to cite Tender Pricing Process for Accommodation Building, Essay examples

Analysis Of Origin Energy Limited

Questions: 1.Select a company listed in the Australian Stock Exchange (ASX) and prepare a report covering aspects of the Management and directors of the company,Major shareholders,Compensation of directors and top executives,Key performance indicators and Evaluate the performance of the company? 2.Robert Alba just won the state lottery. He has been given the option of receiving either $62.9 million today or $5 million a year for the next 35 years, with the first payment paid today. Discuss the process that Robert should use to determine which payment option he prefers. Ignore all taxes and assume that Jesse will live for at least 40 more years? Answers: Introduction The assignment has taken origin energy limited for analysis. The company is formed by demerger of Boral limited which a conglomerate company is dealing into variety of products and services. The Origin energy limited is founded in 2000; it is headquartered in Sydney Australia. The chief executive officer of the company is Frank Calabria. The main business of the company is to deal in natural gas production and exploration, Australia Pacific, Queensland, Australia, energy retailing, and electricity generation. The company possesses 28th rank from 2000 company in Australia. Major part of the revenue is earned from supplying electricity supply in Australia industry. The given report describes about the management and directors of Origin energy limited, major shareholders. Here only those shareholders are considered who possess at least 5% of the shareholding in the company. The report provides a brief about the remuneration paid to its directors such as executive and non executive direc tors. Furthermore the report describes about the key performance indicators of the company. Here the report has focused on accounting and market in key performance indicators. At last the report provides conclusion in which it has concluded all the report in a summarized manner (Origin, 2016). 1. Management and directors of origin energy limited The board members of origin energy limited consist of executive and non executive directors. The executive directors of the company include: Grant King, Karen Moses, David Baldwin, Frank Calabria, G Mallet, D Bames and P Zealand. While the non executive director team consists of: S Perkins, S Sargent, R Norris, J Akehurst, M Brenner, G Claims, B Morgan, H Nugent and B Beeran. The non executive directors are responsible for audit, health, safety and environment (Origin, 2017). The executive directors are the members of the company and they held some responsibility in the firm. While in case of non executive directors are the member of the company but they do not held any responsibility in the company. However the legal responsibilities, liabilities and duties are same for both executive as well as non executive directors. Executive director held his/her position in executive board of the company, while non executive directors held his/her position in non executive board. Non executive directors aid the chairman and executive board in designing the effective strategies for the organization (Origin, 2010). Major shareholders Major shareholders are those shareholders who held at least 50% share holding in the company. These shareholders are also called as the owner of the company; these shareholders are majorly the key persons of the company such as chairman, chief executive officer, managing director, or promoter of the company. The reason behind such a high shareholding is to control the voting interest in the company. These shareholders impact the regular operations of the company by providing strategic and operational directions to the company management. The big shareholding is usually in case of large company or multinational company. In this analysis, the report has considered 5% shareholding of the origin energy limited. These shareholders are: HSBC Custody Nominees (Australia) Limited, JP Morgan Nominees Australia Limited, National Nominees Limited and Citicorp Nominees Pty Limited (IBIS world, 2016). The origin energy limited company has ordinary shares which ranges from 1-1000, 1000-5000, 5000-10000, 10000- 100000 and above 100000. The shareholding of such ranges are 74840, 75923, 12093, 6108, and 176 respectively. The bigger the range of shareholding in the company, it represents higher percentage. However following is a presentation over large shareholders which holds share in Origin energy limited of above than 5%. Shareholding pattern Name of shareholder Percentage HSBC Custody Nominees (Australia) Limited 17.92% JP Morgan Nominees Australia Limited 13.82% National Nominees Limited 9.66% Citicorp Nominees Pty Limited 4.76% Compensation of directors and top executives Compensation to the members of board and directors consists of a combination of fixed and variable pay. However the remuneration to be paid depends upon operating cash flows after tax, and earnings per share. The company pays two types of remuneration that is STI and LTI here STI is called as variable remuneration. This is because such remuneration is allowed after achieving of some set targets, while LTI is a fixed amount of pay. Following are the presentation of STI and LTI as paid by the company (Origin, 2016). The remuneration models of the company for its executive as well as non executive directors are as below: Remuneration table Executive director Name Basic pay Incentives Total G king 2478168 1393436 3871604 D Baldwin 1118480 1728243 2846723 F Calabria 1046655 1482536 2529191 G Mallet 84327 64352 148679 K Moses 1169595 1030558 2200153 D Bames 89094 221960 311054 P Zealand 605581 882892 1488473 Non Executive Director J Akehurst 239679 19500 259179 M Brenner 247680 19500 267180 G Claims 657680 52726 710406 B Morgan 275679 30303 305982 H Nugent 273680 19500 293180 S Perkins 188900 16280 205180 S Sargent 218679 19500 238179 B Beeren 61042 163591 224633 R Norris 56670 4688 61358 Key performance indicators The key performance indicators of the company are those factors which lead to competitive advantage for the company. It helps in achieving the business objectives of the company. In an organization there are two types of key performance indicators those are low performance indicators and high performance indicators. High performance indicators help in achieving the overall performance of the company, while low performance indicators are those which make their impact on company sales and revenue (Adedeji, 2014). The key performance indicators of the origin energy limited are natural gas, electricity and LPG. The company is considered as leading retailer of energy in Australia. It provides services to 4.2 million gas, electricity and energy accounts. The company is engaged in making its product and services as per technology such as compatible for roof top. Hence the company is engaged in making its products and services compatible for changing technology so to increase the brand image in the minds of consumer. The company by providing such facilities increases the loyalty and trust of consumer (Parmenter, 2015). In case of accounting, the key indicators of the company are in revenue, earnings before interest depreciation and tax and operating cash flow. The company has revenue in 2016 as 11.42 billion$ which is increased its revenue by 1% in comparison to previous year. In case of earnings before depreciation, interest and tax the company has $ 1.33 billion which has increased by 6% in comparison from previous year. While in case of operating cash flow the company has $1.39 billion which has increased in 2016 by 36%. Evaluation of the performance of the company For evaluation of financial performance the ratio that to be analyzed are: liquidity ratios, operating ratios, leverage ratio and investment ratio. In liquidity ratio, the report has made analysis of current ratio, quick asset ratio. In case of operating ratios, the report has considered operating return on investment, operating profit margin, total asset turnover. In leverage ratio, the report has calculated debt ratio, times-interest earned. While for shareholder return investment ratios are calculated, the report has calculated return on common equity, DuPont analysis of return on common equity (ROE). Current ratio: it describes the relationship between current assets and current liabilities of the company. It states that whether the current asset are sufficient to set off current liabilities of the company (Friedlob and Welton, 2008). Quick asset ratio: it is calculated by dividing quick asset from current liabilities. Quick asset are calculated by subtracting inventory from current assets. It defines the relationship between short term current asset and short term obligations of the company. Operation return on investment: this ratio is widely used due to its simplicity and versatility. Operating return on investment is calculated to find out the return on various investment made by the company. Operating profit margin: the ratio interprets the relationship between operating profits of the company and its net sales. Here operating profit is calculated by paying off the regular expenses of the organization (Nuhu, 2014). Total asset turnover: it describes the relationship between total assets and sales. It states the percentage of sales which can be earned by using total assets. Debt ratio: it is also called as solvency ratio; it is used to find out the relationship between total liabilities and total assets of the company. It interprets that whether the company has sufficient assets to fulfill all its liabilities (Tracy, 2012). Times-earned ratio: this ratio is also called as interest coverage ratio. It is used to find out the percentage of net profit that is used to pay off the interest expenses. It finds out the firms ability to pay off its interest liabilities and debt payment capability. Return on common equity: this ratio is used to find out the firms ability to generate profits from the capital invested by the shareholders. It can also be understood how much profit or earnings are made from the capital invested by the company shareholders (Business, 2016). DuPont analysis on common equity (ROE): it is an advanced version of return on equity. It is calculated by using net profit ratio, total asset turnover ratio, and debt ratio. This ratio is used to find out that whether the firm is earning sufficient net profits, whether it is using its net assets for generation of sales, and the financial leverages of the company (Dalabeeh, 2013). Origin energy limited Particulars Amount million$ Industry average 2016 2015 2014 current assets 3571 8321 3596 current liabilities 2889 5175 3709 inventory 248 239 287 quick assets 3323 8082 3309 operating income -177 -145 1200 total assets 28898 33367 31139 total liabilities 14368 19208 16010 interest expense 560 389 453 total equity 14530 14159 15129 net profit -576 -590 638 sales 11923 11893 14518 Ratio current ratio 1.24 1.61 0.97 quick asset ratio 1.15 1.56 0.89 operating return on investment -0.01 0.00 0.04 operating profit margin -0.01 -0.01 0.08 total asset turnover 0.41 0.36 0.47 0.44 debt ratio 0.50 0.58 0.51 2 times earned interest -0.32 -0.37 2.65 3.83 return on common equity -0.04 -0.04 0.04 Net profit ratio -0.05 -0.05 0.04 11.03 return on equity -0.01 -0.01 0.01 9.83 2. In the given case study Robert Alba has won a lottery in which he has given an option to either receive the 62.9 million$ today or to receive 5 million$ for 35 years. In the calculation done above, the formula for net present value is: (Arshad, 2012) Here: PV = present value C1= annual cash flow R = rate of return of present value N= number of years By analyzing the present value it is recommended that Robert should apply for the first option that is he should receive 62.9 million$ today rather than to receive 5 million$ for the next 35 years. The reason behind this is the difference in present value. In the given question, in absence of information it has been assumed that the present value factor is 10%. Hence by calculating net present value of equal cash flow of amount 5 million$ for 35 years, the present value comes out to be 48.22 million$, which is much lower than the total sum up money to be received today. Here the difference comes out as 14.68 million$ which is a great sum of money. Therefore it is recommended to Robert Alba to take the entire sum today only of 62.9 million$. Conclusion By analyzing over the report it has been analyzed that HSBC Custody Nominees (Australia) Limited has major shareholding in origin energy limited. The key performance indicators of the company are revenue, cost advantage, and technology. The company is highly committed towards winning the trust and loyalty of its customers. By analyzing the financial performances of the company it is concluded that current asset of the company has declined in 2016 due to fall in current assets in 2016 as compare to 2015. Due to negative operating profits in 2015 and 2016, the operating return, return on common equity, net profits has come out to be negative. By analyzing ratio with industry average it can be concluded that the company has good total asset turnover ratio, but in case of debt ratio, the company has very reduced debt ratio, which is due to high total assets. While in case of times earned interest, net profits and return on Equity Company is far back from industry standards. Hence by anal yzing all this, it is said that company must focus on its earning besides focusing on technological aspects, as earnings plays a considerable role in maintaining liquidity. While in case of Robert Alba, the entire sum as to be received today is recommended. References Adedeji, E, A,. (2014) A tool for measuring organization performance using ratio analysis, Research journal of finance and accounting, 5 (19), pp (16-22) Arshad, A,. (2012) Net present value is better than Internal rate of return, Interdisciplinary journal of contemporary research in business, Vol 4(8) Business. ( 2016) Analyze your finances: Financial Ratios. Retrieved from https://www.business.gov.au/info/run/finance-and-accounting/finance/analyse-your-finances-financial-ratios Dalabeeh, A, R,. (2013) The role of financial analysis ratio in evaluating performance (Case study: National chlorine industry), Interdisciplinary journal of contemporary research in business, 5(2), pp (13-28) Friedlob,G,T and Welton,R,E,. (2008) Keys to reading an Annual Report, Barrons Educational Series IBIS world,. (2016) Origin Energy Limited- Premium Company report Australia. Retrieved on 14th March, 2017 from https://www.ibisworld.com.au/australian-company-research-reports/electricity-gas-water-waste-services/origin-energy-limited-company.html Nuhu, M,. (2014) Role of ratio analysis in business decisions: A case study NBC Maiduguri plant, Journal of educational and social research, 4(5), pp (105-118) Origin,. (2010) Non-executive director remuneration. Retrieved on 14th March, 2017 from https://reports.originenergy.com.au/2010/shareholder_review/remuneration_report/non-executive_director/ Origin,. (2013) Investor information. Retrieved on 14th March, 2017 from https://reports.originenergy.com.au/2013/shareholder/investor-information/share-and-shareholder-information/ Origin,. (2016) Remuneration report. Retrieved on 14th March, 2017 from https://www.originenergy.com.au/content/dam/origin/about/investors-media/senate-submission-carbon-risk-disclosure-160331/remuneration_report_2016.pdf Origin,. (2016) Shareholders review. Retrieved on 14th March, 2017 from https://www.originenergy.com.au/about/investors-media/reports-and-results/shareholder-review.html Origin,. (2017) Board members. Retrieved on 14th March, 2017 from https://www.originenergy.com.au/about/investors-media/governance/board-members.html Origin,.(2014) Annual report 2014. Retrieved on 14th March, 2017 from https://www.originenergy.com.au/content/dam/origin/about/investors-media/annual-report-2014.pdf Origin,.(2016) Annual report 2016. Retrieved on 14th March, 2017 from https://www.originenergy.com.au/content/dam/origin/about/investors-media/full-year-results-appendix-4e-financial-statements-2016.pdf Parmenter, D,. (2015) Key Performance indicators: developing, implementing and using winning KPIs, John Wiley Sons, New Jersey Tracy, A. (2012). Ratio Analysis Fundamentals, Ratio analysis. Net

Personal High School Experience

The Prince essays

The Prince essays The Prince by Niccolo Machiavelli provides an analysis on how to govern and maintain power in a principality. In the first five chapters, he defines the three ways a monarch can acquire his dominion: either he inherits it, whether he creates a new one, or annexes territories, and further discusses how to govern them. Machiavelli states that hereditary principalities are less problematic than the mixed ones since newly acquired dominion tend to be more rebellious. The ruler must therefore colonize them and allow citizen to keep their laws or annihilate the governmental structure. In order to illustrate his point, he analyses the success of Alexander the Great conquest in Iran. He then considers five possible ways to acquire power and become a prince (Ch. VI-XI). First, a private citizen can become a ruler due to his own qualities or virtues, like Cyrus or Romulus. A second way to become a ruler is through others power or favor. Hence a man like Cesare Borgia gained power due to his f ather support, but lost it when the latter died. For Machiavelli, getting power so quickly can be dangerous since the new monarch might lack knowledge on how to govern. In the third case, he uses the example of Agathocles of Sicily to illustrate power gained through murders. In his opinion, the conqueror must decide if his crimes will help him establish power and then commit them all at once so that he can later reestablish the confidence of his subjects. The fourth method is called civil principality, people basically choose the ruler, and this enables him to maintain power. The last possibility is to be elected pope and Machiavelli provides a brief overview of the religious order. Next, he explores (Ch. XII- XIV) which arms are best to defend a principality and states that a ruler can chose to use his own, or mercenaries, or auxiliaries or a mixture of all three. From Chapter XV throughout Chapter XIX, Machiavelli proposes to describe ho...

Human Resource Research Paper Example | Topics and Well Written Essays - 500 words

Human Resource - Research Paper Example It has been noticed that, issues of sexual preferences and gender are much more sensitive because individuals who have different preferences feel discriminated in many avenues of life (Burns and Krehely, 2005). Most organizations proclaim that they do not carry out any form of discrimination, but in practice they do and violate the rights of the employees. This is exactly what happened with Oiler. Oilers contributions to the organization as well as his work record were not taken into consideration when making the decision regarding his termination. Furthermore, the disturbing fact was that the laws of the federation and the state did not have any protection for the transgendered employees. Therefore, not only were employee rights of Oiler violated, he did not receive any protection from the state or federation either. 2. What do you see as the consequences of organizations that punish employees for certain off-the-job behaviors? Explain. Punishing employees for certain off-the-job be haviors can create a negative perception among the employees as well as the public because the organization does not practice equality and non-discrimination (Weiss, 2007). Termination of the employees for such reasons would be a negative publicity as clients and employees would exercise caution in approaching the organization in the future.

ANT 250I MOD 3 SLP Essay Example | Topics and Well Written Essays - 500 words

ANT 250I MOD 3 SLP - Essay Example The most common muscular dystrophy is Duchenne’s muscular dystrophy – a disease found predominantly in males and diagnosed in a period between 2 and 6 years. It afflicts as approximately 1 out of every 3, 500 births (Emery 687). DMD (abbreviation for Duchenne’s muscular dystrophy) is a result of muscle fibers degeneration and atrophy brought about by the absence/lack of dystrophin, a protein which is responsible for maintaining muscle fibers intact. Specifically, the loss-of-function mutations found in dystrophin are accountable for the disease. Dystrophin’s function is to encode a specific protein - 427-kD protein. The latter is located below the sarcolemma. Dystrophin, in alliance with the associated proteins, called dystroglycan and the sarcoglycans, takes part in a mechanically powerful link which can be traced from the extracellular matrix to the cytoskeleton that underlies it (Rybakova et al 1209). Total or partial deficiency of dystrophin ruins the dystrophin-glycoprotein complex (abbreviated as DGC), which means that cytoskeleton present in the muscle fibers is no longer linked to the matrix (Hoffman, Brown, and Kunkel, 919). Hence, no dystrophin leads to the DGC complex functional impairment, while the mechanical stress accompanying with contraction results in the degeneration or atrophy of skeletal muscle fibers, impairment of movements, plus muscle-wasting. It finally leads to the death of the afflicted male kids which is a result of respiratory or cardiac failure, or both (Rando 1575, Petrof et al 3710). According to Engwal & Wewer, the existing dystrophin deficiency found in skeletal, as well as cardiac muscles, leads to the fact that several secondary processes start activating. Among them one may find inflammation, interstitial fibrosis, and extracellular matrix degradation, which badly affect the DMD progression (Engwal & Wewer 1579). Boys diagnosed with

A policy dictating mandatory marriage classes before couples get Annotated Bibliography

A policy dictating mandatory marriage classes before couples get married should be introduced - Annotated Bibliography Example It underscores the fact that divorce is on the rise due to unpreparedness. This source is useful to the research topic because it shows that marriage may not work well without the necessary lessons on this institution. It also helps to show the challenges in life that make people opt for divorce. It is argued that people change every ten years in several aspects and this poses a challenge to their partners. This article therefore adds a lot significance to the research topic as it shows that indeed it important for people to be taken through marriage classes before getting married. This source reviews what it means to get into marriage. It outlines the challenges that marriage presents and what it means financially if a couple goes for a divorce. It also outlines the legal repercussions of perpetrators of domestic violence. It helps a reader to have a preview of what marriage is. Getting to know some of these facts may lead to a change in decision on who to marry or getting married to. It also adds much significance to the research topic because it exactly supports the topic. It advocates for marriage class sessions before getting married and attaches a financial incentive to those who attend these classes. The fact that this article gives the views of the Florida Supreme Court on the significance of marriage classes before marriage shows how important this topic is. This article contains details and a procedure to be following for those wishing to get married in the state of Florida. Among the requirements at the state of Florida before one gets married is that he or she has to read the Family Law Handbook. Applicants are also required to attend marriage classes and are given financial incentives for that. This article shows the significance with which marriage counseling is viewed in the state of Florida. In my paper, I

Entrepreneurs of Small Enterprises in the UK

Entrepreneurs of Small Enterprises in the UK Liquidity problem is an important strategic issue to run business enterprises. Small enterprises are realising the importance of such problems to reduce losses arises from this. Liquidity problems arise from shortage of working capital that require to maintain daily operations of the enterprise. If this problem persists for long-time, entrepreneurs are bound to stop their business. But it is difficult for small enterprises to get right support at the right time from banks and insurance companies due to certain terms and conditions imposed by them. So a study in this field will be helpful for both entrepreneurs and financial institutions to know current scenario of enterprise level management of liquidity problems and the role of financial institutions to solve this problem. Intelligent forecasting of the future trend in market conditions is a preventive measure to solve liquidity problem whereas, bank support through different financial products is a curative measure in management of liquidity problem. This study has been initiated to identify and analyse entrepreneurs view towards liquidity problems of small enterprises and role of bank to solve this problem. Categorically the major objectives of the present study are: To identify various reasons of liquidity problems of small enterprises; To uncover the views of entrepreneurs regarding the research topic in light of their age, education, invested amount of capital, enterprise life, location and nature of business; To assess the risks identified by the entrepreneurs arises from liquidity problems of their enterprises; To identify and analyze the role of bank in terms of available financial products to manage liquidity problems; To suggest probable solutions to solve liquidity problems of small enterprises. Hypothesis: H 1: There is no impact of small enterprises length of life on the size of liquidity problems. H 2: Amount of investment has no influence on liquidity problems. H 3: Nature of business has no impact on liquidity problems. H 4: Banks facilities are enough to solve liquidity problems of small enterprises. 7. Sources: Broad Subject Area: Business Finance Books and Journals: Alsbury, A. (2001), Quick Answers to Small Business Questions, Series Editor Jay, Prentice Hall, London. Allen, F. and Gale, D. (2007) Understanding Financial Crisis. Oxford: Oxford University Press. Bygrave, W. D. (1994), The entrepreneurship paradigm 1: a philosophical look at its research methodologies, Entrepreneurship theory and practice, Vol. 14, No. 1, pp 1- 26. Bhaduri, R., G. Meissner and J. Youn (2007). Hedging Liquidity Risk. Journal of Alternative Investments, Winter 2007. Cecchetti, S. (2008), Monetary Policy and the Financial Crisis of 2007 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 2008. Available at: http://fmwww.bc.edu/ec-j/sems2008/Cecchetti.pdf [Accessed: 11 November 2008]. Cohen, W. (2005), The entrepreneur and small business problem solver, 3rd edition, Published by John Wiley and Sons. Dawson, J., Findlay, A. and Sparks, L. (2006) The Retailing Reader. London: Routledge. John L. Knight, Stephen Satchell (2003). Forecasting Volatility in the Financial Markets. Butterworth-Heinemann. Dorfman, Mark S. (2007). Introduction to Risk Management and Insurance (9th Edition). Englewood Cliffs, N.J: Prentice Hall. Douglas Hubbard (2009) The Failure of Risk Management: Why Its Broken and How to Fix It John Wiley Sons. Hisrich D. R. Peters P. M., (2002) Entrepreneurship, 5th edition, Pub., Tata McGraw-Hill. Hawkins, M. (2008) How to Benefit From Consumer Behaviour During a Financial Crisis. EzineArticles. Available at: http://ezinearticles.com/How-to-Benefit-From. Hannon, P.D. and Atherton, A. (1998), Small firm success and the art of orienteering: the value of plans, planning and strategic awareness in the competitive small firm, Journal of Small Business and Enterprise Development, Vol. 5 No. 2, pp. 102-19. Islam N. Mamun Z. M., (2002) Entrepreneurship Development, An Operational Approach, Pub., The University Press Limited,. Leaf, W. and Sykes, E. (2009), Banking, 3rd edition, T butterworth Ltd. McConnell I. (2009), Economic output posts biggest quarterly decline since 1980, The Herald (Glasgow), January 24th Issue, Final Edition, p. 26. Simpson, M et al. (2006), marketing in small and medium size enterprises, International Journal of entrepreneurial behaviour and research, Vol. 12, Issue-6, pp 361-387. Available at:www.emeraldinsight.com [Accessed: 15 November 2009] Stoltz A, Viljoen M (2007) Financial Management: Fresh Perspectives, Published by Pearson South Africa. Websites: Small business banking, (2009) available at http://www.bytestart.co.uk/content/banking/banking-guides/business-banking-the-basics.shtml, [Accessed: 15 th November 2009] Office for National Statistics (2008), Unemployment rates rises to 5,7%.. Available at: www.statistics.gov.uk [Accessed 14th November 2009]. Number of enterprises, employment and turnover by number of employees and industry division, UK, start 2004, Available at www.statistics.gov.uk [Accessed: 14th November 2009] HSBC and Barclays news, , 10th November 2009, Available at: www.news.bbc.co.uk, [Accessed 12th November 2009] SME Academy London [online] Available at: http://www.smeacademy.co.uk/, [Accessed 13 November 2009] Banks Websites: www.barclays.co.uk www.hsbc.co.uk www.natwest.com www.lloydstsbbusiness.com 8. Literature Review: The economic recession that hit the UK in the second half of 2008 caused the retail industry to experience certain difficulties (McConnell, 2009; Kollewe, 2009). The credit crunch and growing unemployment reduced consumer income and spending levels and causes uncertain flow of cash for business enterprises. In such conditions, small enterprises are experiencing irregular cash flows, look at the cost cutting strategy, excessive burden of debt, reduction of buyers and uncertain profit margins or losses. As a result shortage of short term capital creates liquidity problems to small enterprises. In business, liquidity refers to the financial ability of an enterprise to meet its short term obligations to bear day to day expenditures. The liquidity of retail sector specially small enterprises are greatly affected by macroeconomic factors. These factors are divided into two: direct and indirect factors. The direct factors can be recognised as the decreasing disposable income, job insecurity and credit financing hurdles (Office for National Statistics, 2008). The indirect factors are challenges of credit financing and investment capability which commercial organisations face and which make these organisations unable to continue with producing high quality products and customer service (The Economist, 2008). Other macroeconomic factors that are related with small enterprises financial crisis are house price, house rent, and employment rate, and inflation rate, availability of bank loan, interest rates and changes of consumers behaviour. Storey [1994] notes that small firms, however they are defined, constitute the bulk of enterprises in all economies in the world. In the latter half of the last century the increasing important roles of small firms and entrepreneurship cannot be in any way understated [Bygrave 1994; Timmons 1994;]. Small firms are now a complex subject matter of research because of its huge number of limitations. These features of small enterprises are supported by Robinson and Pearce [1984] who focused on the issue of resource limitations of small firms. These limitations are best summarised by Carson and Cromie [1989] who suggest that small firm is actually characterised by three types of limitations, those of: their impact on markets; finance; physical resources; It is obvious that among these three limitations, finance is one of the most important one what is equally important for promoting products and services of small enterprises in the markets and acquiring physical resources. But undoubtedly these three limitations are in a cycle and interdependent. Liquidity problem is not only the result of shortage of fund, this problem is the consequences of other two limitations too. Definition of small enterprises of European Commission Enterprise and Industry [europa.eu] refers to maximum number of employees are 49 and maximum annual turnover is 7million Euro for small enterprises. As per EU definition, there are 4,267,555 small enterprises in UK where 11,441,000 employments exist [UK Bureau of Statistics: Start 2004]. It is undoubtedly important to find out immediately the problems of such a large sector and solutions of the problems. As noted by Hill and McGowan (1999), there is no agreed definition or clear understanding, in view of the large literature that exists, of who the entrepreneur is or what it is they do. Entrepreneurship is probably best understood as a process, the constituents of which are the entrepreneur, their persistent search of opportunities, usually grounded in the market place, and efforts to marshal the resources needed to exploit these opportunities; hence the concept of the entrepreneurial SME (Hill and Wright, 2001). How entrepreneurship is vital and important for small enterprises? Hill and McGowan (1999) answer this question by adding that, without entrepreneurial commitment, determination, vision, energy, tolerance of risk, and ambition, the entrepreneurial process in small and medium enterprises would not happen. Entrepreneurs making decision in various circumstances must be sure to learn as much as possible about the situation, and approach the decision from a logical and rational p erspectives (Ricky W. Griffin, 2002). The financial crisis, which transmitted internationally and caused disturbances in a wide range of powerful economies, many countries are seen to be on the brink of recession if not already plunged into it (Deutche Welle, 2008). Todays financial crisis what causes liquidity problems of business enterprises could be recognised as a major challenge for the survival of millions of small enterprises. The wide scope of the crisis caused a downturn in many industries, the bankruptcy of leading organisations and overall economic recession to countries like the UK, Germany and France (Deutche Welle, 2008; Hopkins, 2008; Office for National Statistics, 2008). Many EU countries including UK experienced the shock in their banking sectors as the provision of credit financing became a great challenge. Banks were suffering from lack of liquidity, which caused both business and non-business consumers financial hardships (The Economist, 2008). Though few banks like HSBC and Barclays [BBC, November 2 009] claimed that they are now in profit with enough liquidity to lend, most of the banks are in problem. Bank has short term and long term loan facilities, mortgage facilities, interest free bank overdraft facilities for small business enterprises [Small business banking, 2009]. There is a well-known idea that such facilities for small enterprises are very limited and process is very complex. Though various researchers carried out so many research to find out various factors that have direct and indirect impact on operations of small enterprises, relationship between entrepreneurship and small enterprises, buyers behaviour, marketing strategies, family and non-family business trends in this sector, there is still gap in research regarding liquidity problems and role of bank to solve this problem in terms of entrepreneurs perspective. Specially at the time of current economic down town there is a necessity of new research in the mentioned field. 9. Intended Methods of Data Collection: Assumptions of the study: Small enterprise: This study considers EU [maximum employee: 49] definition to select small enterprises. Scope and limitations of the Study: The study will focus on randomly selected 40 small enterprises of different sectors like hospitality, grocery, fashion and stationary from UK (London Area: Zone 1-4). Since the study will cover only the mentioned area, it will not reflect the exact UK scenario as a whole about the research. Data Collection Procedures: The proposed study is an empirical one. Both primary and secondary data will be used during the study. For collection of primary data self completed questionnaire will be used to collect information from entrepreneurs and executives of business enterprises. Observations and interview will be conducted in several cases to confirm more authentic information from the entrepreneurs. Secondary data will be collected from available literatures in form of books, journal, magazines, published materials, research articles, and online materials. To identify available financial products of banks to solve liquidity problems of small enterprises, banks websites will be used as a source of data and information. The researcher will also call the respondent to ensure timely feedback about questionnaire. In case of necessity, personal contacts will be used to support the research process. Methods of Data Analysis: Some parametric and non-parametric tools and techniques of statistics (like average, percentage, test of hypothesis, sampling distribution, etc); will be used to analyze data and information related with the study.

The Work of Leonardo da Vinci Essays -- essays research papers

Grasping the full understanding of science and perfection in creative art are the two ultimate goals that mankind had been striving for ever since these two aspects became an important part of society. Many had aimed for it but none succeeded. Most of those who attempted to obtain this Holy Grail failed but some were able to conquer many fields. Leonardo da Vinci is a perfect example of those â€Å"Universal Geniuses.† Leonardo was one of the few who achieved major success in both art and sciences including portrait painting, conceptual engineering, anatomy, and many more. Leonardo was born in 1452 in the village of Vinci near Florence, Italy. With him being born into a family of highly respected lawyers, it is said that Leonardo inherited his intelligence from his father, Ser Pierro da Vinci. Despite the family traditions, Leonardo grew up to be an apprentice of an artist named Andrea del Verrocchio. It was here that the young man developed his talent and soon surpassed his own mentor. He created new styles of painting that were so revolutionary that there was a rumor whic...