Demonstrate the impact of changing cost and revenue data on the breakeven point of a selected business Essay Example

Demonstrate the impact of changing cost and revenue data on the breakeven point of a selected business Essay Example Demonstrate the impact of changing cost and revenue data on the breakeven point of a selected business Essay Demonstrate the impact of changing cost and revenue data on the breakeven point of a selected business Essay Breakeven analysis can also be used to show how risky a business might be if the revenues or costs are not as originally predicted. Mia has considered a range of alternative scenarios where the cost and revenue are different to her original figures. Changes in fixed costs No of Customers Fixed costs Variable Costs Total Costs Revenue Profit/ Loss 0 1350 0 1350 0 (1350) 2000 1350 3000 4350 6000 1650 4000 1350 6000 7350 12000 4650 6000 1350 9000 10350 18000 7650 8000 1350 12000 13350 24000 10650 10000 1350 15000 16350 30000 13650 12000 1350 18000 19350 36000 16650 14000 1350 21000 22350 42000 19650 16000 1350 24000 25350 48000 22650 18000 1350 27000 28350 54000 25650 In the table above I can see the fixed costs have increased to 1,350. The fixed costs in the original sheet were 1,200. The differences between the two sums are à ¯Ã‚ ¿Ã‚ ½150. The Variable costs stay the same in the two sheets, but the total costs are different. In the original sheet the total cost of 2000 customers is à ¯Ã‚ ¿Ã‚ ½4200, but in this sheet the total is à ¯Ã‚ ¿Ã‚ ½4350. The revenue stays the same for both sheets but the last column (profit/loss) will change. On the original sheet the profit/ loss for 6000 customers is 7800, whereas this sheet is 7650. The break even formula is Fixed cost (Selling price- Variable costs per unit) 1350 - à ¯Ã‚ ¿Ã‚ ½3.00 à ¯Ã‚ ¿Ã‚ ½1.50 = à ¯Ã‚ ¿Ã‚ ½1.50 The breakeven point is à ¯Ã‚ ¿Ã‚ ½900 No of Customers Fixed costs Variable Costs Total Costs Revenue Profit/ Loss 0 1125 0 1125 0 (1125) 2000 1125 3000 4125 6000 1875 4000 1125 6000 7125 12000 4875 6000 1125 9000 10125 18000 7875 8000 1125 12000 13125 24000 10875 10000 1125 15000 16125 30000 13875 12000 1125 18000 19125 36000 16875 14000 1125 21000 22125 42000 19875 16000 1125 24000 25125 48000 22875 18000 1125 27000 28125 54000 25875 In the table above I can see the fixed cost have decreased to à ¯Ã‚ ¿Ã‚ ½1125 per month, in the original sheet it was à ¯Ã‚ ¿Ã‚ ½1200 pounds and has decreased by à ¯Ã‚ ¿Ã‚ ½75. The variable costs and the revenue are the same as originally predicted but the total cost and the profit/ loss has changed a lot. The total cost on the original sheet for 16000 customers was 25200 and the total cost for 16000 customers when the fixed cost is 1125 is 24000 pounds. The profit/ loss for the original, is for 8000 customers the profit is 10800 and for my new table my profit/ loss for 8000 customers is 10875. The break even calculation is: 1125 à ¯Ã‚ ¿Ã‚ ½3.00 à ¯Ã‚ ¿Ã‚ ½1.50= à ¯Ã‚ ¿Ã‚ ½1.50 The break even point is à ¯Ã‚ ¿Ã‚ ½750 No of Customers Fixed costs Variable Costs à ¯Ã‚ ¿Ã‚ ½1.75 Total Costs Revenue Profit/ Loss 0 1200 0 1200 0 (1200) 2000 1200 3500 4700 6000 1300 4000 1200 7000 8200 12000 3800 6000 1200 10500 11700 18000 6300 8000 1200 14000 15200 24000 8800 10000 1200 17500 18700 30000 11300 12000 1200 21000 22200 36000 13800 14000 1200 24500 25700 42000 16300 16000 1200 28000 29200 48000 18800 18000 1200 31500 32700 54000 21300 Changes In variable costs In the graph above the variable costs have increased to à ¯Ã‚ ¿Ã‚ ½1.75, in the original table the variable cost was à ¯Ã‚ ¿Ã‚ ½1.50. The fixed cost and the revenue is the same as the original, but the total cost and profit/ loss is different. In the original table the total cost for 18000 customers was 28200 and the total cost in the table above for 18000 customers is 32700. There is a big difference in the table above compared to the original. 1200 à ¯Ã‚ ¿Ã‚ ½3.00- à ¯Ã‚ ¿Ã‚ ½1.75= à ¯Ã‚ ¿Ã‚ ½1.25 The break even point is à ¯Ã‚ ¿Ã‚ ½960 No of Customers Fixed costs Variable Costs à ¯Ã‚ ¿Ã‚ ½1.75 Total Costs Revenue Profit/ Loss 0 1200 0 1200 0 (1200) 2000 1200 3500 4700 6000 1300 4000 1200 7000 8200 12000 3800 6000 1200 10500 11700 18000 6300 8000 1200 14000 15200 24000 8800 10000 1200 17500 18700 30000 11300 12000 1200 21000 22200 36000 13800 14000 1200 24500 25700 42000 16300 16000 1200 28000 29200 48000 18800 18000 1200 31500 32700 54000 21300 No of Customers Fixed costs Variable Costs à ¯Ã‚ ¿Ã‚ ½1.40 Total Costs Revenue Profit/ Loss 0 1200 0 1200 0 (1200) 2000 1200 2800 4000 6000 2000 4000 1200 5600 6800 12000 5200 6000 1200 8400 9600 18000 8400 8000 1200 11200 12400 24000 11600 10000 1200 14000 15200 30000 14800 12000 1200 16800 18000 36000 18000 14000 1200 19600 20800 42000 21200 16000 1200 22400 23600 48000 24400 18000 1200 25200 26400 54000 27600 In the table above the fixed cost is the same as the original, but the variable cost has decreased to à ¯Ã‚ ¿Ã‚ ½1.40. The revenue is the same as original but the total costs and profit/ loss is different. On the original sheet the total cost for 6000 customers is à ¯Ã‚ ¿Ã‚ ½10200 and in the table above at 6000 customers the total cost is 9600. So the difference between the two is 600. The profit/ loss on the original sheet are lower than the table above because on the original sheet at 10000 customers the profit/ loss are 13800, and on the table above the profit/ loss are at 14800. So the difference is 1000. 1200 - à ¯Ã‚ ¿Ã‚ ½3.00- à ¯Ã‚ ¿Ã‚ ½1.40= à ¯Ã‚ ¿Ã‚ ½1.60 So the breakeven point is 750. Changes in Revenue No of Customers Fixed costs Variable Costs Total Costs Revenue à ¯Ã‚ ¿Ã‚ ½3.50 Profit/ Loss 0 1200 0 1200 0 (1200) 2000 1200 3000 4200 7000 2800 4000 1200 6000 7200 14000 6800 6000 1200 9000 10200 21000 10800 8000 1200 12000 13200 28000 14800 10000 1200 15000 16200 35000 18800 12000 1200 18000 19200 42000 22800 14000 1200 21000 22200 49000 26800 16000 1200 24000 25200 56000 30800 18000 1200 27000 28200 63000 34800 The table above shows a change in the revenue. The original revenue was à ¯Ã‚ ¿Ã‚ ½3.00, but the table above is à ¯Ã‚ ¿Ã‚ ½3.50. The fixed and variable costs are the same as the original, but the Revenue is different. The profit/ loss are different because in the original table at 14000 customers the profit/ loss are 19800 and in the table above the profit/ loss for 14000 customers are 26800. 1200 - à ¯Ã‚ ¿Ã‚ ½3.50- à ¯Ã‚ ¿Ã‚ ½1.50= à ¯Ã‚ ¿Ã‚ ½2.00 The breakeven point is à ¯Ã‚ ¿Ã‚ ½600 No of Customers Fixed costs Variable Costs Total Costs Revenue à ¯Ã‚ ¿Ã‚ ½2.70 Profit/ Loss 0 1200 0 1200 0 (1200) 2000 1200 3000 4200 5400 1200 4000 1200 6000 7200 10800 3600 6000 1200 9000 10200 16200 6000 8000 1200 12000 13200 21600 8400 10000 1200 15000 16200 27000 10800 12000 1200 18000 19200 32400 13200 14000 1200 21000 22200 37800 15600 16000 1200 24000 25200 43200 18000 18000 1200 27000 28200 48600 20400 The table above has a revenue of à ¯Ã‚ ¿Ã‚ ½2.70. The fixed and variable costs are the same as the original table. The revenue is different so at 8000 customers the original the revenue is 24000, and on the table above at 8000 customers the revenue is 21600.

10 Steps for Finding Your Family Tree Online

10 Steps for Finding Your Family Tree Online From cemetery transcriptions to census records, millions of genealogy resources have been posted online in recent years, making the Internet a popular first stop in researching family roots. And with good reason. No matter what you want to learn about your family tree, there is a pretty good chance you can dig up at least some of it on the Internet. Its not quite as simple as finding a database that contains all of the information on your ancestors and downloading it, however. Ancestor hunting is actually much more exciting than that! The trick is learning how to use the myriad of tools and databases that the Internet provides to find facts and dates on your ancestors, and then going beyond that to fill in the stories of the lives they lived. While each family search is different, I often find myself following the same basic steps when beginning to research a new family tree online. As I search, I also keep a research log noting the places Ive searched, the information I find (or didnt find), and a source citation for each piece of information that I find. The search is fun, but less so the second time if you  forget where youve  looked  and end up having to do  it all over again! Begin with Obituaries Since family tree searches generally work their way back in time from the present, searching out information on recently deceased relatives is a good place to start your family tree quest. Obituaries can be a gold mine for information on family units, including siblings, parents, spouses, and even cousins, as well as the date of birth and death and place of burial. Obituary notices may also help lead you to living relatives who can provide further information on your family tree. There are several large obituary search engines online which can make the search a bit easier, but if you know the town where your relatives lived you will often have better luck searching the obituary archive (when available online) of the local paper. If you arent sure of the name of the local paper for that community, a search for newspaper and the city, town or county name in your favorite search engine will often get you there. Be sure to search out obituaries for siblings and cousins as well as your di rect ancestors. Dig Into Death Indexes Since death records are usually the most recent record created for a deceased individual, they are often the easiest place to begin your search. Death records are also less restricted than most records by privacy laws. While monetary restrictions and privacy concerns mean that the majority of death records are not yet available online, many online death indexes are available through both official and volunteer sources. Try one of these major databases and indexes of   online death records, or do a Google search for death records plus the name of the county or state in which your ancestors lived. If youre researching American ancestors, the Social Security Death Index (SSDI) contains details of more than 77 million deaths reported to the SSA since about 1962. You can search the SSDI for free through  several online sources. Details listed in the SSDI generally include the name, date of birth and death, zip code of last residence, and social security number for each listed individu al. Further information can be obtained by requesting a copy of the individuals   Social Security Application. Check Out the Cemetery Continuing the search for death records, online cemetery transcriptions are another huge resource for information on your ancestors. Volunteers from around the world have traipsed through thousands of cemeteries, posting names, dates, and even photos. Some larger public cemeteries provide their own online index to burials. Here are a number of free   cemetery search databases  online which compile links to online cemetery transcriptions. RootsWebs country, state, and county sites are another great source for links to online cemetery transcriptions, or you can try a search for your familys surname plus cemetery plus location in your favorite Internet search engine. Locate Clues in the Census Once youve used your personal knowledge and online death records to trace your family tree back to people who lived around the beginning of the twentieth century, census records can provide a treasure trove of information on the family. Census records in the United States, Great Britain, Canada, and many other countries are available online some for free and some through subscription access. In the United States, for example, you can often find living and recently deceased family members listed with their parents in the 1940 federal census, the most recent census year open to the public. From there, you can trace the family back through previous censuses, often adding a generation or more to the family tree. Census takers werent very good at spelling and families arent always listed where you expect them, so you may want to try some of these search tips for census success. Go On Location By this point, youve probably managed to narrow down the search to a particular town or county. Nows the time to head to the source for more detailed information. My first stop is usually the county specific Web sites at USGenWeb, or their counterparts at WorldGenWeb - depending upon your country of interest. There you may find newspaper abstracts, published county histories, biographies, family trees, and other transcribed records, as well as surname queries and other information posted by fellow researchers. You may have already come across some of these sites in your search for cemetery records, but now that youve learned more about your ancestors, you can dig even deeper. Visit the Library In the spirit of location, my next step in the family hunt is to visit the Web sites for local libraries and historical and genealogical societies in the area in which my ancestor lived. Often you can find links to these organizations through the locality-specific genealogical sites mentioned in step 5. Once there, look for a link labeled genealogy or   family history to learn about the available resources for genealogical research in the area. You may find online indexes, abstracts, or other published genealogical records. Most libraries will also offer  online searching  of their library catalog. While most local and  family history books  arent available for online reading, many may be borrowed through interlibrary loan. Search Message Boards Many great nuggets of family history information are exchanged and shared via message boards, groups, and mailing lists. Searching the archives of the lists and groups which pertain to your surnames and areas of interest may yield obituaries, family histories, and other pieces of the genealogy puzzle. Not all of these archived messages can be found via traditional search engines, however, necessitating manual searching of any lists of interest.  RootsWebs genealogy mailing lists  and message boards  include searchable archives, as do most genealogy-related organizations using  Yahoo Groups  or  Google Groups. Some may require you to join (free) before searching the archived messages Ferret Out Family Trees Hopefully, by this point, youve found enough names, dates, and other facts to help you distinguish your ancestors from others of the same name making it a good time to turn to the family research already done by others. Thousands of family tree have been published online, the majority of them included in one or more of these Top 10 Pedigree Databases. Be warned, however.  Many online family trees  are basically works in progress and may or may not be correct. Be sure to  verify the validity of a family tree  before incorporating it into your own family tree, and  cite the source of the information  in case you find conflicting data as your research progresses. Search for Specialized Resources Based on what youve learned about your ancestors, now you can search out more  specialized genealogical information. Databases, histories, and other genealogical records may be found online which focus on military service, occupations, fraternal organizations, or school or church membership. Stop by the Subscription Sites By this point youve exhausted many of the free online genealogy resources. If youre still having trouble finding information on your family, it may be time to tackle the pay-for-use genealogy databases. Through these sites you can access a wide variety of indexed databases and original images, ranging from the  digitized WWI Draft Registration records  at  Ancestry.com  to the birth, marriage, and death records available online from  Scotlands People. Some sites operate on a pay-per-download basis, charging only for the documents you actually view, while others require a subscription for unlimited access. Check for a free trial or free search feature before plunking down your money!

The Munich Agreement of September 1938 Essay Example | Topics and Well Written Essays - 2000 words

The Munich Agreement of September 1938 - Essay Example This has made these states consider the agreement as a Munich dictate, whose aim was to allow the Germans to continue with the occupation of the Czechoslovakia land. The paper will discuss the reasons why Neville Chamberlain signed the Munich Agreement. Why Neville Chamberlain signed the Munich Agreement Neville Chamberlain was the Prime Minister of the United Kingdom at the time the Berlin agreement was signed in Munich Germany. He is seen as a conservative politician who operates under the appeasement policy. Throughout his tenure in office as British Prime Minister, he is portrayed as a leader who practiced anti-war policies and would do everything possible to ensure that peace prevail. This saw him sign the Munich Agreement despite being ridiculed and branded as a coward. This is because, Chamberlain considered the matter that was bringing disagreement between Germany and Czechoslovakia as something which could be solved diplomatically (Caputi 2000 p.187). He, therefore, sought f or a diplomatic course by trying everything possible to convince Hitler who was much opposed to the agreement to concede, sign the agreement, and avoid war ((McDonough 1998). One of the main reasons Chamberlain signed the Munich Agreement was to ensure that Britain maintained super power status in Europe, both in terms of the economy and imperial power. McDonough (1998 p.4) argues that chamberlain was an assertive politician who was realistic and able but was much aware that Britain was not in a position both military or economically to maintain control of the world. He, therefore, wanted Britain to retain its influence in Europe and retain the independence of Britain. For Britain to achieve its mission, Chamberlain felt that the best way to do this was by avoiding a world war, which was eminent (Parker 1993 P.48). He was, therefore, obliged to sign the agreement so that Britain can remain super power both economically and imperially. For a country to go into war, it needs to get su pport of the nation for it to be successful. Chamberlain signed the agreement because he was not sure as to whether he could get the support of his country in case he accepted to go into war (Grayson 2001). Before the signing of the agreement, Chamberlain kept seeking for the nation and cabinet support in his plan Z strategy in case war was unavoidable. He, however, did not get the kind of support, which made him doubt whether his nation would follow him into war. This prompted him to sign the agreement to avoid criticism from his nation (Caputi 2000 p.187). War is always associated with high costs, as it requires use of resources, arsenals and the army (Rowe 2004). Chamberlain felt that it was noble to for him to consider signing the Munich Agreement, which would prevent Britain from incurring such heavy costs associated with war. This shows that Chamberlain was not opposed to war as some historians branded him as a coward but instead he was being guided by moral values. It is only Germany that was prepared to pay these costs by ensuring that the fight for the annexation of Nazi Germans in Czechoslovakia. Chamberlain and government of France were however much opposed to subjecting their nations to these costs since the matter at hand to them was not worth the costs. This is seen in the Munich riddle that going to war need concrete cause, willingness, arsenals and the men, which to Chamberlain and Daladier were lacking according to Caputi (2000 p.192). Therefore, Chamberlain had no choice but to sign the Berlin Agreement. It is

Staying Put by Scott Russell Sanders Essay Example | Topics and Well Written Essays - 250 words

Staying Put by Scott Russell Sanders - Essay Example According to the research findings it can therefore be said that in terms of the perspective of theologians and religious experts, the concept of God is the center of the universe and talks about enlightenment like a zen master once said indirectly that the personal level of consciousness is the best place for enlightenment or to be the center of own universe of understanding. Awareness is the first important point to make directions toward a good future as people throughout centuries had dealt with difficult circumstances to study and create varying fields of studies to make solid patterns and knowledge on how to direct towards a better future for the entire humanity. Divergence in the specializations in knowledge reflect varying paths and mongrel realities like in the United States wherein culture, religions, beliefs, races and ideas mix in varying proportions. In relation to the dilemma of the future path of the world, it cannot be denied that there are three things that are const ant: everything changes, everything has basis and everything is interconnected. Everything changes can mean that life is dynamic while having basis means everything happens for a reason. On the other hand, everything is interconnected shows the concept of unity which most religions teach to their faithful. The downside on the current trend of the world is that people are heading toward different directions and many are caught in the complexities that cause confusion as seen in ecology.

Global City-Regions Essay Example for Free

Global City-Regions Essay Regional geography usually concerns the evident similarities and differences of the various regions of the world (Martin and Thompson 2006). One of the concerns of such field of geography is the ever-changing geographical urbanization throughout the globe. Urbanization can come in different forms, thus, in the article by Scott, urbanization in the form of expanding globalization that beset different regions is discussed together with the many effects and challenges that comes with it (2001). In the article, the author tries to indicate that rather than obliterate the concept of geographical divisions, globalization enhances the regional entities currently existing in society to the point that certain global city-regions are created and are faced with the challenges of coping with the mentioned globalization trend (Scott 2001). Article Summary One of the many fruits of globalization is the creation of wider political-economic regional units called â€Å"global city-regions† (Scott 2001, p. 813). In the so-called city-regions, new political and economic structures arise. Due to the many transformations and modifications that have happened during the centuries, a new system has emerged via globalization. Such condition of society creates four aspects that should be addressed by the new civilization. These four aspects namely are: (1) the increasing large quantities of economic activity can now occur in the form of long-distance as well as inter-border relationships between regional units, (2) the number of established multinational organizations is ever-increasing to answer such economic pressures, (3) previous regulatory functions of the national administrations are now being performed by regional units, and (4) the revival of past economic and political regions have sprouted creating new geographical boundaries (Scott 2001). The fourth aspect discussed by Scott was then further elaborated to give emphasis to its importance and significant consequences. It is in this elaboration of the fourth aspect that the concept of city-regions is introduced. The institution of globalization is therefore the initiator of the necessity of implicitly founding city-regions. Upon verifying the fact that global city-regions exist, the author now tries to analyze the political and economic structures that could possibly be established to answer the needs of the new city-regions. Two budding political principles thus appear; the first is a neo-liberal political view. In this view, government interference is at a minimum while economic activity is maximized through market organization (Scott 2001). This view is remarked as a risky one and thus should not be the structure that could be applied to developing city-regions. The second political principle which the author recommends is that of renascent social democracy which is also called the social market approach (Scott 2001). Such approach is appropriate for economic efficiency and at the same time can selectively commence intervention whenever necessary (Scott 2001). Furthermore, democracy will be an effective means of addressing the social and political tensions of a diverse population which is apparent in city-regions where most people try to earn a living, mainly due to its reputation as a site for capitalism and globalization (Scott 2001). As a conclusion of the article, the author tries to propose a new definition for citizen and citizenship. Since the new geographical partitions throughout the globe will be like those of the city-regions, new concepts on citizenship thus surface. Citizens will no longer be bound by birthright to a particular geographical location but rather becoming a citizen will be based on the functional contributions an individual possesses. Furthermore, citizenship will take on a whole new level. Individuals in the ever-increasing mobile world can freely obtain the title of citizenship as many as possible depending on the movements of each person as one travels through different city-regions situated in the vast world (Scott 2001). In the end, the author shares his afterthoughts regarding the subject matter. Similar to the varying consequences of globalization, the emergence of city-regions in society also has diverse outcomes. Summarily, though the emergence of such global city-regions revives the geographical entities and the need for distinctiveness, its materialization also poses new and fresh political and economic problems and challenges (Scott 2001). Throughout the article, the author tries to back-up his arguments and deductions as well as his predictions by citing different outside references. His use of examples such as naming international organizations and cities considered city-regions in the world strengthens the thesis of his article. Information cited from other authors also imparts the well-researched foundation of the author’s arguments. Organizational Analysis The organization and structure of the article is quite impressive. The author uses deductive as well as inductive reasoning in presenting and defending his thesis statement and arguments. The style of writing is also well-organized. This is evident on the flow of the whole article. At the opening of the article, the author communicates what he believes is going on in the society. He incorporates new ideas to explain what has come to pass, thus the use of the term â€Å"global city-regions†. Following his conceptual presentation, he proves the certainty of his inferences. To give significance to his article, he then recommends solutions and steps that can be taken to resolve the issues at hand. Furthermore, he offers the readers explanations to the current situation. In the end, he lays down his conclusions and deductions only after weighing the advantages and disadvantages of the solutions to the issues. His effort to refer back to the effects of globalization in geography is a very competent way of leaving a lasting thought to the readers. Thus, by doing so, he creates an appealing atmosphere whose effect is persuading and convincing. Furthermore, the urgency in his article is apparent by his use of situational events. It makes the reader feel the need to address the matter at hand. Personal Analysis Although the article is exceedingly academic and formal, the ideas presented by the author are quite revolutionary, thus making them interesting. It is enjoyable in a sense that it offers innovative concepts and principles not just in regional geography and globalization, but also on economics and politics. The principle of city-regions is a noteworthy contribution to the field of geography. Furthermore, his defense of the existence and importance of the study of geography brought new light to the study. This is the most striking effort the author has produced. By addressing the argument that geography is becoming obsolete, he established geography’s status in the academe and the sciences. Moreover, by his struggle to affirm the relevance of geography, he constructed a new concept in geography. In summary, he renewed the necessity to study geography, particularly in relation to that of the current worldwide condition of society. Relevance and Conclusion In connection to urban political geography, the article is actually all about it. The focus of the article is that of globalization which is a form of urbanization. The author thus tries to give a glimpse of the concerns of urban political geography. This is achieved by the by discussion of political principles that are appropriate for the newly-discovered global city-regions. By generating an image of regional geography, the author imparts an understanding of the subject. The article however has not yet been tackled in classroom discussions since it will be talked about in later topics in the course of the class. Scott reveals new conceptual geography that not only deals with regional and physical geography but also with political geography in the midst of globalization. Through conversing about the matter, the author revitalized the significance of studying geography and the varying concerns it deals with. References Martin, G. J. Thompson, J. H. (2006). Geography. Microsoft Encarta 2007 [CD]. Redmond, WA: Microsoft Corporation. Scott, A. J. (2001). Globalization and the Rise of City-Regions. European Planning Studies 9 (7): 813-826.

Popularity of Soccer Around the World Essay -- essays research papers

Popularity of Soccer Around the World I am going to talk about the most popular sport in the world: football. Now, you may be having visions of huge quarterbacks, dressed up in their padding and helmets, parading down the field during the Super Bowl. But the other kind of football, the football the rest of the world knows, has no padding or helmets. This other football is known in America as soccer. In more than 175 countries across the globe, football, or soccer, rates as the number 1 national sport. Football dates back as far as thousands of years ago. There are records that show that ancient civilizations of Greece, Egypt, and China (among others) played an age-old form of football with a stuffed leather ball. Early games in Old England were like mob riots. There were no rules; it was anything goes! The games were so rowdy and violent that many English rulers tried to outlaw them. But it didn’t work. In fact, English travelers took the game with them, spreading it all around the globe. But there needed to be rules. In 1863 the Football Association was formed, or FA, in England. They developed the first real set of rules for modern soccer, or football, as we know it. And actually, the word â€Å"soccer† came from their name, specifically from the word â€Å"assoc†. By 1900 football teams from all different countries were playing against each other, and there was a need for a common set of rules. In 1904 the Federation Internationale de Football Association, or more commonly...

The Arabian Nights: The Porter and the Three Ladies of Baghdad

â€Å"Curiosity kills the cat† as the old saying goes. The same thing did happen in the story The Porter and the Three Ladies of Baghdad. Curiosity of the men who entered the house of the three ladies of Baghdad put their lives at risk by trying to know what they are not supposed to know. Although there had been a sworn statement between the ladies and the men, the latter broke the contract and faced the consequences. However, curiosity, if done correctly, can also be a source of something better than expected. The Porter and the Three Ladies in Baghdad In the story, seven men were in the ladies’ house. They were a porter, a Caliph and his companions (Wazir and swordsman), and the three Kalandars. At first, the men and the ladies were merry-making. Moments later, there came two bitches chained on their neck that the eldest of the ladies slapped and tortured in front of the men. This aroused interest from the men but they just let it pass. Later on, they saw the portress (one of the ladies) playing the lute but to their surprise, she reacted terribly and passed out after tearing her dress. The men saw the marks of the rod and whip in her back and again it added to their curiosity. It happened three times and the men were greatly astounded save the Caliph’s minister. They reacted, thinking that they can easily overpower the ladies, and caught the ladies’ attention. The eldest asked about the commotion and the porter was tasked to tell the truth: they wanted to know what’s going on. But the ladies and the men had agreed beforehand that they must not talk things that are not of their concern least, they face the unpleasant. To the ladies’ command, 7 huge white and black men came out of the closet and tied the men. Now, because of curiosity, they had their lives in danger. Being curious can be both beneficial and risky. â€Å"Curiosity kills the cat† as the old saying goes. In this case, the men, especially the Kalandars, ended risking their lives because of their curiosity. We can blame them because they failed to comply with the contract. They were already told that they must not talk about things they’re not concerned with and they agreed. The men should have listened and did as what they were supposed to do. However, curiosity had been beneficial in the sense that it created chaos in the story. If the men didn’t react, the story would have been boring. Also, another good thing is that it lengthened the story. The characters involved, especially the Kalandars and the ladies, ended sharing their stories. References The Porter and the Three Ladies of Baghdad. Retrieved November 7, 2007, from http://xahlee.org/p/arabian_nights/an5.html

Fast Fashion

Introduction The clothing industry, as one of the most globalizes industries in the world (Fibonacci et al 1994), is currently undergoing a restructuring, especially the fast fashion sector. Fashion markets are synonymous with rapid changes and short product life cycles. Therefore, changes in consumer demand for newness and fashion trend force the emergence of fast fashion' strategy in retailers like Ezra and H;M and shifts in the focus of competitive advantage from price towards quick response.That is to say, clothing firms, which are adopting global or offshore sourcing strategy, are not noninsured to have more competitive advantages as before. However, the question is: should fast fashion retailers adopt quick response strategy instead of overseas sourcing strategy immediately, or adopt both strategies? In the first section, a literature review of the nature of fashion market and related arguments will be introduced. The overseas sourcing strategy and the quick response strategy w ill be explained with examples of existing clothing firms in the second and the third section.The fourth section will compare and contrast the advantage and disadvantages of these two strategies. Combining theoretical knowledge with empirical case studies, it is argued that companies could reach the maximum profit by adopting overseas sourcing strategy as well as quick response strategy. 1 . Literature Review Fashion retailers, such as Ezra, H;M, Benton and Marks ; Spencer have revolutionized the fashion industry by creating a concept of fast fashion'.The change in the culture of fashion from haute couture to fast fashion has attracted numerous researchers to identify and explore the nature of fast fashion market (Tokomak 2008, p. 22, Christopher et al 2004, p. 367, soul and -raccoon 2008, Tactile et al 2008). Accordingly, short life cycles, rapid prototyping and high volatility are identified as the key features of the fashion market. Compared to other industries, apparel product m anufacturing has unique features, for instance, numerous SKIS (stock keeping unit) in a season, hard to estimate customers' demand and wide range of products for basic to fashion items Non 2004).All these unique characteristics require a different approach to production sourcing, Soul and Turn-on (2008) pointed out that fast fashion retailers prefer using an opportunity-pull approach to the traditional designer-push model. By adopting the new approach, retailers could respond to the shifts in the market as quickly as possible. As a result, the more continuous production schedule (eight to twelve fashion ‘seasons') has substituted for the traditional two to four ‘seasons' calendar (Tactile et al 2008, p. 264, Dickens 2011, p. 316).In relation to global production networks, Dickens (2011) identified the ‘core' of a global production network as the circuit of four basic operations, which refers to inputs, transformation, distribution and consumption. Theoretically, th e quicker the production circuit flows, the higher the gross margin the company can gain. When we apply the theory into the clothing industry, the cost of production and the speed to response to changes in consumer demand are equally important. Both of them could contribute to the flow of production circuit.Since numbers of studies have elaborated the benefit of production relocation, the implementation of quick response strategy by fashion retailers has attracted the interest of researchers in recent years (Bristle et al 2003, Perry and Shoal 2000, leer and Bergen 1997). However, results of an exploratory study (Bristle et al 2003) shows that the advantages of quick response strategy have not been fully understood by fashion retailers. They tend to implement quick response strategy for internal supply chain management.Moreover, leer and Bergen (1997) tried to use formal model to examine the impact of quick response strategy on fashion retailers. Although there is companies already adopted both strategies, limited attention has been paid to the combined effect of these two strategies by researchers. Hypothesis: In an era of fast fashion, companies that adopt both global sourcing strategy and quick response strategy have better chance to succeed in the fashion looting market. 2. Cost, the most basic consideration. In order to have higher profit margin, one of the most effective ways is to cut down production costs.In view of the low labor cost in developing countries, global sourcing seems to be a good choice to reduce costs. With the development of global production networks and the increasing competition, fast all fashion clothing firms have shifted their manufacturing operations to low lost locations over the past decades. The shifts in the Shares manufacturer Levi Stratus's global strategy could vividly demonstrate how global sourcing strategy works and affect its supply chain. At first, the company was created in the USA.As it developed and became a global company, they began to employ workers all over the world. However, in face of fierce competition, Levi Strauss started to shift its operation to lower-cost countries in the late sass. By the year 2003, Levi Strauss closed the last four plants in North American and ‘has become an entirely offshore producer' (Dickens 2011 p. 318). The German fashion company Hugo Boss also provides similar example. In face of high production cost, namely high labor cost in domestic market, more and more fashion retailers choose to outsource their production.Moreover, some fast fashion retailers even have no manufacturing competency (Tokomak 2008). The representatives of this kind of retailers are Gap, H&M and Mango. As they do not own any factories, the only way for them do produce their products is outsourcing. The success of these retailers without factories proves the feasibility of global sourcing strategy. By contrast, when most retailers were busy outsourcing their production to lower cost countries, some fast fashion retails still insist on domestic sourcing strategy, for instance, Ezra, Benton and Marks & Spencer.They held the view that ‘market legibility and lean inventories may be more important than cheap labor' (Tokomak 2008). However, could efficiency really overcome the lost in higher production cost? Maybe no one could answer this question. If we take Ezra as an example and find out where Ezra produce the products, we could develop our own view. As a Spanish company owned by Inedited, Ezra produce its products mainly in Spain and Portugal (Wood 2010). Whereas their competitor found suppliers from worldwide low-cost countries, Ezra choose to produce products near its domestic market.That maximizes time efficiency. In fact, the unit labor costs in these two countries were low enough in the sass (Tokomak 2008), therefore, there is no need for Ezra to outsource its productions to other locations. It has the similar competitive advantage as other companies have, besides, by domestic sourcing and producing Just-in-time, Sara's production cycles are much faster than its competitors. In this respect, it is better for Ezra to adopt the domestic sourcing strategy. However, recent years, the geography of Sara's production network has become diverse.Ezra started to outsource and 34 percent of its production was carried out in Asia (Dickens 2011). Similar situation have also occurred in Benton and Marks & Spencer. On one hand, the unit labor cost among European countries has increased in recent years. On the other hand, the supplier firms in countries like Turkey, India and Asia have gained the ability to meet the higher requirement of flexibility and speed. It is inevitable for fast fashion retailers sourcing from these countries. However, companies should also be aware of the potential risks and hidden cost brought by overseas sourcing.Global sourcing strategy requires close coordination of R&D, manufacturing, and marketing activities on a global basis. Managing geographically separated R&D, manufacturing, and marketing activities, those companies face difficult coordination problems of integrating operations and adapting them to different legal, political, and cultural environments in different countries (Daniels et al 2013). Furthermore, separation of manufacturing activities involves an inherent risk that manufacturing in the value chain will gradually becomes neglected.Such neglect can be costly as continued involvement in manufacturing tends to lead to pioneering product design and innovation over time. An effective global sourcing strategy calls for continual forts to streamline manufacturing without sacrificing marketing flexibility. 3. Time, the growing consideration. With the wide spread of fast fashion' principle, fast fashion retailers are aware of the importance of efficiency. They notice that consumer demand is changing more rapidly and customers more discerning about quality and choice.Although a substan tial cost advantage can be gained by adopting overseas sourcing strategy, it cannot compress time in the supply system. To solve this problem, companies tend to choose the quick response strategy, which focuses on providing shorter lead times. According to Bristle et al (2003), quick response strategy was first developed as a result of the need to compete with offshore manufacturers in the USA. The quick response strategy emphasizes on flexibility and product velocity and relies on a measure of trust in sharing information (Barnes and Lea-Greenwood 2006 p. 63). In addition, while maximizing the diversity of products, quick response could minimize lead-times, expenditure, cost and stock of inventory. Quick response is not merely about reducing lead-time by the use of domestic or nearby sourcing strategy, it also involves the ability to gather latest information and use real-time data to understand the needs of the consumers. To some extent, quick response help to shorten the product cycle times and decrease risks and inventories at each stage of manufacturing and retailing operations.The Spanish Ezra, as mentioned before, is ‘an excellent example of a vertically integrated retailer using quick response methods' (Bristle et al 2003). Despite successful application of the concept â€Å"fast fashion† in H;M and Top Shop, Ezra utilizes the â€Å"fast fashion† strategy in all aspects dominant, fast fashion in Ezra meaner, within only two weeks from concept to sales faster than any other company. Unlike most of its competitors, Ezra still produces most of the products in Spain and Portugal and only outsource basic items in lower cost countries.By adopting quick response strategy, Ezra focused on creating a short, flexible, tight and innovative supply chain and tried to balance the higher labor cost by shorter (3-6 weeks) lead times. As a result, Sara's short deliveries have made it ‘as much as 12 times faster than the competition' (Newsweek 2001, p. 36, cited in Tokomak 2008, p. 30). Ezra launches almost 11000 new products in a year, which meaner the update speed is about two or three times a week. In 2005, sales grew by 21 percent over the prior fiscal year in Ezra, which makes Inedited ahead of H&M for the first time (Daniel et al 2013).The good result indicates that domestic sourcing still works as long as the company finds out a way to compensate for the losses in production cost. Having witnessed the successful experience of Ezra, competitors started to follow the lead of Ezra. For instance, Benton now replenishes stores once a week, Forever 21 Inc. And Unique are able to get new products in store thin 6 weeks (Ordered and Johnson 2008). Another example that worth to be mentioned is the Next brand in the ELK. Base on the quick response strategy, the company uses a limited edition approach to accelerate the update speed.Moreover, in order to respond to the changes in demand as soon as possible, next has even purcha sed part of a multi-national clothing supplier to enable constantly changing ranges by reducing lead time (Bristle et al 2003). As we can learn from the case studies, time becomes a priority consideration in the fashion market. The adoption of quick response method should be able to make manufacturer to ‘adjust the reduction of different styles, colors and sizes in response to retail sales during the season' (Seen 2007). 4.Comparison between overseas sourcing strategy and quick response strategy One of the biggest differences is that overseas sourcing strategy uses cost as a competitive weapon while quick response strategy uses time. As we known, both cost and time are the keys for retailers to gain more market share and profit; The dilemma for fast fashion companies is: Whether fashion retailers should outsource production overseas for lower production cost or keep manufacturing nearby to facilitate speed. As highlighted earlier, the fashion market is volatile and unpredictab le.Quick response strategy emerges in such an environment. Compared to overseas sourcing strategy, which faces long transport times and difficulty in controlling over production, quick response strategy enables retailers to cope with uncertainty or changes in the fashion market. On the other hand, although domestic sourcing provides companies from paying for higher logistic cost and other hidden costs, offshore sourcing secures lower cost inputs, (Christopher et al 2004). It is argued that fast fashion companies need to adopt strategies that optimally mix overseas sourcing ND quick response to win the market.The changes occurred in Marks & Spencer over these years could help us understand the advantages and disadvantages of both strategies. As a major British retailer, it chooses to use local suppliers for decades. However, in face of the downward pressure on price, it abandoned its domestic sourcing strategy and started to relocate production overseas (Christopher et al 2006). Acco rdingly, the average hourly labor cost in the I-J is nine times higher than in Morocco and even nineteen times higher than in China, Pakistan and Indonesia.After adopting oversea suppliers, Marks & Spencer on noticed that they overlooked the related problems, such as the cost of transportation, the need to forecast styles, colors and volumes in advance and the risk of stock inventory. Facing the challenge of adopting global sourcing, Marks & Spencer tend to use â€Å"dual supply chains†. By combing global sourcing strategy and quick response strategy, â€Å"fashionable items† are manufactured in locations with a journey time no more than four days.For â€Å"basic items†, for which demand is easier to be predicted, Marks & Spencer continue producing them in lower cost locations (Christopher et al 2006). Likewise, Ezra has also adopted both strategies for its supply chain. Today, price is no longer the determined factor that concerned by customers. Many companies consider not simply price but also quality, reliability, and technology of components and products to be procured. These companies design their sourcing decision on the basis of the interplay between their competitive advantages and the comparative advantages of various sourcing locations for long-term gains.By contrast, they care more about the quality, design and the level of popularity. Therefore, companies have to find the balance between cost and time. If fast fashion tillers make good use of these two strategies, like M&S and Ezra did, the negative effect could be covered to a large extent. Conclusion Volatile markets, short product lifestyles and high product variety are the characteristics of today are clothing industry. This essay mainly discusses the adoption of two common strategies- global sourcing strategy and quick response strategy, in fast fashion clothing sector.Although most companies already have chosen outsourcing strategy to maintain the competitive advantage, t he nature of today's fashion market forces companies to consider the importance of speed and flexibility. The analysis of both strategies with the help of real companies' experience shows that both of them have positive and negative effects on fast fashion retailers. However, overseas sourcing strategy and quick response strategy are not mutually exclusive. In practice, the successful examples of M&S and Ezra have proved the feasibility of combing global sourcing with quick response strategy.

Free Essays on Law V. Justice

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