Accounting Terminology Essay Example for Free

Accounting Terminology Essay Each of the following statements may (or may not) describe one of these technical terms. For each statement, indicate the accounting term described, or answer â€Å"None† if the statement does not correctly describe any of the terms. a. The level of sales at which revenue exactly equals costs and expenses. Break-even point. b. Costs remain unchanged despite changes in sales volume. Fixed Costs. c. The span over which output is likely to vary and assumptions about cost behavior generally remain valid. Relevant Range. d. Sales revenue less variable costs and expenses. Contribution margin. e. Unit sales price minus variable cost per unit. Unit contribution margin. f. The reduction in unit cost achieved from a higher level of output. Economics of scale. g. Costs the respond to changes in sales volume by less than a proportionate amount. Semi variable costs. h. Operating income less variable costs. â€Å"None†. Exercise 20.7 – Using Cost-Volume-Profit Formulas Exercise 21.2 – Home Depot’s Financial Statements: Incremental, Sunk, and Opportunity Costs Read the footnote in Appendix A referring to Home Depot’s decision to close all of its remaining big box stores in China. Write a short paragraph identifying the incremental, sunk and opportunity costs associated with this decision. Assume that any cost savings will be invested elsewhere in more productive stores. Incremental costs relate to the difference in costs between alternative courses of action and incremental revenues. The incremental costs that would be that would occur from either remodeling or closing Home Depot an existing location would include cost of materials, overhead from the actual physical remodel, labor that includes employee pay for rearranging and moving merchandise during a remodel if it occurred, designing and planning costs. Opportunity costs are important factors when it comes to decision making because they define the costs of taking some action in terms of the value foregone or that’s given up due to a particular action taken place. Opportunity costs of remolding would include profits on lost sales if the store is closed during remodeling, loss of current sales due to decrease in customer traffic (due to excessive noise, smell, dirt and inconveniences. Stores could potentially lose profit if they are not able to stock the full line of products or keep items stocked during a remodel. Whereas a sunk cost is an outlay that has been irrevocably incurred at some time in the past; sunk costs cannot be changed no matter what course of action is taken and are irrelevant for purposes of decision making involving the future. Sunk costs related to either remodeling of the store that would need to be taken into consideration include original costs of the current store (decorations, paint, shelves, displays, carpet) and designs that will need to be replaced or removed during either remodeling or closing. Exercise 21.6 – Incremental Analysis: Make or Buy Decision The cost to Swank Company of manufacturing 15,000 units of a particular part is $135,000, of which $60,000 is fixed and $75,000 is variable. The company can buy the part from an outside supplier for $6 per unit. Fixed costs will remain the  same regardless of Swank’s decision. Should the company buy the part or continue to manufacture it? Prepare a comparative schedule in the format illustrated in Exhibit 21-6. It would be more beneficial for the company to manufacture the part rather than buy it from an outside provider. Brief Exercise 22.9 – Flows of Costs through Manufacturing Accounts The President of Cold Moo Ice Cream Company, a chain of ice cream stores in the Midwest, was unhappy with the actual six-month profit figures for the  company recently prepared by the CFO. The president asked the CFO for a profit breakdown, by store, of the actual six-month results. When the President received the report, he was extremely upset and called the CFO, into his office. The President stated, â€Å"These reports show that each store in the chain is profitable, but our company results are unprofitable! How can this be?† The CFO pointed out that each store was allowed to set prices for ice cream based on its cost structure. However, the stores’ cost structures did not include headquarters costs of the costs of advertising and delivery of products. What are the three characteristics for operating a successful responsibility accounting system? Consider whether the accounting system at Cold Moo Ice Cream Company includes the three characteristics of a successful responsibility accounting system. How could the responsibility accounting system at Cold Moo be improved? As the Textbook states, â€Å"measuring performance along the lines of management responsibility is an important function. A responsibility accounting system holds individual managers accountable for the performance of the business centers under their control and provides top management with information useful in identifying strengths and weaknesses among units throughout the organization.† The three characteristics of a successful operating accounting system will include budgets, will measure the performance, and contain timely performance reports. â€Å"Budgets serve as performance targets for each subunit in an organization. The accounting system will measure the performance of each responsibility center, and timely performance reports are prepared that compare the actual performance of each center with the amounts budgeted.† When reports are preformed frequently, it allows center managers to be able to keep their performances on target, and helps with the evaluation of the managers. It does not appear hat Cold Moo Ice Cream is following the timely reports method of the accounting system, which is essential to ensuring the financial information is accurate as possible, and to improve this aspect should be more intertwined with the actual budget and more accurately present how the performance of the store is measured. To do so the responsibility income statement should also be presented, this  contains not only the operating results of a particular part of a business but also the revenue and expenses of each profit center within that part, which could be extremely important to see how those centers within the same area measure and stack up against one another. For the responsibility income statement to be informative and useful it should essentially and efficiently be able to detail Variable Costs, Contribution Margin, Fixed Costs, Traceable Fixed Costs and Common Fixed Costs. In addition, fixed costs that are common to both product lines amount to $125,000.00. Instructions a. Prepare Chocolatiers’ responsibility income statement for the current month. Report the responsibility margin for each product line and income from operations for the company as a whole. Also include columns showing all dollar amounts as percentages of sales. b. According to the analysis performed in part a, which product line is more profitable? Should the common fixed costs be considered when determining the profitability of individual product lines? Why or why not? According the analysis in part a, the solid product line is more profitable. When determining profitability of any product line, common fixed costs should not be considered. Only the costs that are directly traceable to the product lines should be included. Common fixed costs are not directly traceable to any product, as they are arbitrarily allocated in proportion to a chosen factor, for example, machine hour or square feet of a certain space occupied. c. Chocolatiers has $15,000.00 to be used in advertising for one of the two product lines and expects that the expenditure will result in additional sales of $50,000.00. How should the company decide which product line to advertise? The effects of this campaign will typically be in both sales and variable costs, and therefore the company should select the product line based on which product will have the highest contribution margin ratio, which is the  percentage of sales, service revenues or selling price that remains after all variable costs and variable expenses have been covered. This method takes into consideration the limited time frame of the advertising campaign, where fixed costs will most likely not be affected.

Lenin And Problems After The October Revolution Essay -- History Histo

Lenin and Problems After the October Revolution   Ã‚  Ã‚  Ã‚  Ã‚  The initial difficulties faced by the new Soviet Union were to severe that its survival seemed almost miraculous. The remains of the czarist regime left Lenin to face a country wrought with war, devastated economically. Russia's involvement in World War I, followed by its Civil War, wide spread famine and a change in political and social ideology were the problems confronting Lenin after the October Revolution. Lenin did succeed in ending both the war with Germany and the Civil War for Russia. Yet, the economic and social aspects of the revolution can be more critically assessed.   Ã‚  Ã‚  Ã‚  Ã‚  Lenin knew the importance of ending Russian involvement in World War I. On March 3, 1918 Russia lost 1/3 of its fertile farm lands, 1/3 of its population, 2/3 of its coal mines and oil fields and 1/2 of its heavy industry to German peace terms. Though the treaty of Brest-Litovsk was harsh, the terms were annulled once the Allied powers defeated Germany. Lenin managed to end the war that had for so long depressed Russia's resources and morale. He succeeded in focusing on the severe internal problems of the new government, and in â€Å" saving the socialist republic† . One of the largest problems that Russia faced prior to the October Revolution was finally ended, though its effects were still to be felt.   Ã‚  Ã‚  Ã‚  Ã‚  Almost immediately afterwards, in 1918, Civil War begins. The battling White Army divided amongst different leader...

Chef’s Toolkit

Case #2 Chef’s Toolkit – Case Anaylsis De? ne the Issues Chef’s Toolkit has exhausted all of their ? nancial resources trying to develop their product. The owner, Peter Jeffery, is seeking external investment to fund the launch of his product, and the potential investor, Dale Reid, has asked for projected ? nancial statements for the company’s pessimistic, expected, and optimistic projected sales for the ? rst year of operation ending July 30, 1995. Analyzing the Case Data Fragmented information was given in the case, along with a balance sheet and a production schedule for the expected sales of 10,000 units.There was no statement of cash ? ows, income statement or any information about their cash account or their accounts payable account. Generating Alternatives Dale Reid could choose to either invest $85,000 for 50% of the company, choose to invest more or less for a negotiated percentage of the company, or not invest in Chef’s Toolkit. The pessim istic projected sales is 5,000 units per month, totaling 60,000 units in the year. The expected amount of sales is 10,000 units, summing to 120,000 units per year.The optimistic projected sales is 30,000 units per month resulting in a total of 360,000 units sold in the year. In the optimistic option, a double mold is needed since the total required production exceeds the maximum amount for the single mold. Selecting Decision Criteria †¢ Low additional investment †¢ High revenues with low expenses †¢ Return on Investment †¢ Break Even Analysis Analyzing and evaluating alternatives Break Even = Revenues – Expenses = 0 Single Mold = x(1. 82) – x(1. 215) – x(0. 162) – 63,975 63,975 = x(0. 43) 144,413 = Break even units/year Single Mold (pessimistic and expected) = 12,035 units/month Double Mold = x(1. 82) – x[(1. 215+0. 865)/2] – x[(0. 144+0. 062)/2] – 125,975 125,975 = x(0. 677) 186,078 = Break even units/year Double Mold (optimistic) = 15,507 units/month Chef’s Toolkit – Case Analysis 1 Case #2 Chef’s Toolkit – Case Analysis ROI = (Cash in? ow-Cost of investment)/Cost of investment Pessimistic (-41,711-54,894)/54,894 = – 176% Expected (-4,791-36,724)/36724 = -113% Optimistic (194,983. 20-6,046. 70)/6,046. 70 = 3125%Both the pessimistic and expected sales forecasting show that with an investment well under the proposed $85,000 is required, a negative return of investment is expected. Also, according to break-even analysis operating with the single mold and excluding warehousing costs, a minimum of 12,035 units must be sold to break even. Under a similar situation with the double mold, 15,507 units must be sold to break even, which is about half of the optimistic sales projection. Also under the optimistic sales projection, a positive return on investment is expected.Because the company is turning pro? t,less additional investment is required. Additionally under the pessimistic and expected situation, the company turns losses, and under the optimistic projections, Chef’s Toolkit only has a net income of 13% of its revenues. Selecting Preferred alternative According to the above information and the projected pro-forma statements, Dale Reid should not invest his money in the company. The company’s lack of current assets, high expenses and low per-unit revenue create an unfortunate and unpro? able investment in pessimistic and expected situations. Only in the optimistic production and sales does the company begin to turn pro? t, but this pro? t is low. Chef’s Toolkit needs desperate restructuring and additional revenue sources before Dale Reid should invest. Developing and Implementing the Plan To reduce production costs, Chef’s Toolkit should look into ? nding less expensive producers and packagers. They should also look into additional revenue streams or ? nding a way to retail their product directly to the custo mer to take out the middleman.This would increase their revenue per unit signi? cantly. Chef’s Toolkit can explore online retailing since they essentially don’t have any sort of bricks-and-mortar store front, so it would ? ow with their current business model. Also, if they aim to sell 13,500 units per month, they will turn pro? ts (see break-even analysis-single mold) and not require a double mold since they will produce and sell a total of 162,000 units (the max for the single mold) within the ? rst year.However, presently Peter Jeffery and his wife have exhausted all of the company’s assets as well as substantial amount of their personal assets. The risk in their current situation is high and they need immediate revenue to start recouping their research and development costs. They also need money to even start producing the product so that they can sell it. This should be brought up in their discussion with Dale Reid, and hopefully Peter can persuade him to i nvest despite the bleak pro-forma ? nancials. Chef’s Toolkit – Case Analysis 2

The Effects Of Ocean Pollution On The Marine Ecosystem

Ocean pollution comes in many forms with each having some sort of effect on the marine ecosystem. Ocean pollution is destroying earth s waters, because its killing populations of organisms in the water all over the ocean, Its destroying coral reefs and water is being contaminated with oil,garbage and chemicals.Which in turn is destroying organisms all over the ocean. For the purpose of this paper, it will be logical to categorize these pollutants into three main areas; garbage, chemical, and noise pollution. When thinking about these topics it is not only important to look at the devastation that it brings to sea life, but also how it impacts human and animal life as well. The most obvious pollutant comes in the form of garbage. Garbage is a visible source that we can see floating on the water’s surface. Among the garbage, plastic appears to be the most harmful to marine life. There is an average of 13,000 pieces of plastic litter scattered around every square kilometer of the ocean. An average of 6.4 million tons of marine litter reaches the oceans every year according to the United Nations Environment Programme (UNEP). At this rate scientists predict a bleak future for the oceans which are a vital to our planet s existence. Once garbage whether plastic or not reaches the oceans, the currents take it many miles off shore. The place it ends up is a place that is termed an oceanic desert. The scientific name is gyre. A gyre is a slowly moving, clockwise spiral ofShow MoreRelatedThe Effects Of Ocean Pollution On The Marine Ecosystem And Animals1376 Words   |  6 PagesThe earth’s greatest mass is the ocean, which is seventy percent and holds 1.3 billion cubic km of water. Being the biggest mass on this earth, eighty percent of the world gather their food from the ocean. Along with the eighty percent, one-fourth to one-third of the food we catch from the ocean is also to feed other animals as well. However, with our growing industrial economy pollution has found their way to the ocean. Ocean pollution is a complex series of problems that are linked to many causesRead MoreImportance Of Marine Pollution1729 Words   |  7 PagesThe marine ecosystems are hugely critical for Earth and its living organ isms which holds the plant that produces most of the oxygen on earth. Without oxygen many animals would not be able to breath or even exist. The marine ecosystems have been polluted vastly which is altering the marine population. Who is at fault for the pollution? The inhabitants of Earth. Fortunately for earth there are ways of preventing this form of pollution. The importance of the marine ecosystems and the effects of pollutionRead MoreThe Solution Of Ocean Pollution1400 Words   |  6 PagesOceans around the world are becoming more deadly as people fill them with nearly every type of man-made pollutant. They are turning into bathtubs; being filled with whatever the kids decide to toss in. Many refer to this issue as marine pollution or even ocean pollution. Ocean pollution is, â€Å"... the spreading of harmful substances such as oil, plastic, industrial and agricultural waste and chemical particles into the ocean† (qtd. from Rinkesh â€Å"Causes and Effects..† para. 1). No doubt, clean oceansRead More Marine Pollution: Causes and Solutions Essay1736 Words   |  7 Pagesthere is more pollution being dumped into the oceans, causing major problems to marine life and ecosystems. Major causes of marine pollution involve non-point pollutants, marine garbage, toxic ocean pollutants and sewage disposal in oceans. From heavy meta l poisoning including lead and mercury killing predators such as sharks and whales, to waste getting trapped in the digestive tracts of marine animals, this essay focuses on how human interference causes horrifying problems to the marine life, but alsoRead MoreMarine Pollution1548 Words   |  7 Pagesï  ± (Source: Marine Ecosystem: EMCBTAP-ENVIS N Marine Pollution: Causes and Consequences Pollution of the worlds oceans is quickly becoming a major problem on Earth. We know very little about the effect that pollution has on the oceans, but we continue to dispose off chemicals, sewage and garbage into it at an unprecedented rate. Most people likely do not even know what types of pollutants reach the oceans. There may be billions of people unconcerned about ocean pollution and hence thisRead MoreWhat will the effects be if we dont stop plastic pollution in our oceans?991 Words   |  4 Pages2013 Question: What effects will we see in the future if plastic pollution in our oceans does not stop? ABSTRACT Plastic Pollution has become a global issue in our oceans. Although we hear about this from time to time the problem has grown tremendously beyond our knowledge. There are a growing number of animals dying each day due to plastic particles that either get stuck around their head, or that they swallow. If we do not stop plastic pollution in our oceans the ocean will eventually loseRead MoreThermal Properties of Water814 Words   |  3 Pageswater. Oceans make up 97.5% of all that water (Fraser, Cain). What happens when we continue to change and pollute the oceans and how do water’s properties react to it? Water has a higher latent heat and specific heat capacity than other substances. Water’s thermal properties are also unique when thinking about expansion and contraction. Water like other substances contract when the temperature get lower, although 4 – 0 degrees Celsius actually expands. A very important factor in our ecosystem basedRead MoreEnvironmental Object ives Of The United Nations1074 Words   |  5 Pagessustainably use the oceans, seas and marine resources for sustainable development, and its associated targets will be analysed for measurability and thoroughness. Targets The 7 targets associated with goal 14 focus on 4 themes. Targets 1 and 3 focus on reducing pollution, targets 2 and 5 focus on protecting ecosystems, targets 4 and 6 focus on overfishing and target 7 focuses on incentivising countries to maintain the ocean. Target 1 aims to prevent and significantly reduce marine pollution of all kindsRead MoreMarine Biodiversity : A Global Pattern Essay1461 Words   |  6 PagesMarine biodiversity Definition: Marine biodiversity refers to the species richness and abundance of genes, species and habitats in the world s oceans and seas. And since the world is covered with approximately 70% water the amount of life in the oceans is enormous. According to the definition of the Convention on Biological Diversity, biodiversity is the variability among living organisms from all sources, including inter alia, terrestrial, marine and other aquatic ecosystems and the ecologicalRead MoreFacts and Information on Fresh Water Ecosystems1330 Words   |  5 Pages1. Compare and contrast the main types of freshwater ecosystems. Name and describe the major zones or a typical pond or lake. There are two main types of freshwater ecosystems, those that are eutrophic, and oligotrophic. Both share the same salinity, yet oligotrophic lakes contain more oxygen than fish. On the flipside, eutrophic ecosystems have more fish than oxygen, which has more cyanobacteria and require less oxygen. The ecosystems have similar food chains, yet they differ on oxygen resources

Essay Sample Why I Hate Christmas

Christmas is commonly considered the most beloved holiday. ‘Tis the season to be jolly, to get cozy together with your nearest and dearest†¦ However, more and more people exchange this sentiment for quite the opposite: they hate the season. And, frankly speaking, it’s not out of sheer meanness, to my mind. Like all kids, I used to enjoy Advent and Christmas immensely. Playing in the snow with friends for hours, reading books with a cup of hot cocoa or finding little treasures in the Advent calendar my grandmother made for me – it was all part of Christmas spirit. Now, however, I have mixed emotions – I find quite a lot of things annoying, spoiling the impression of the picture-perfect festive season. I feel Christmas is becoming more of a show and much less of a festival with deeper meaning. First of all, I’d like to ask you: aren’t you annoyed by the amount of obnoxious Christmas ads everywhere, from the Net to any shopping mall? Doll-like angels and reindeer, baubles and candy canes, stars and snow flurries start pouring out of web banners, leaflets and billboards in October, if not earlier. It’s also not at all infrequent for malls to put up Christmas trees and decorating shop windows with Christmas ornaments while it’s still autumn. I’ve noticed that being overwhelmed by such amounts of decoration – being, literally, haunted by Christmas symbols since fall – makes you so fed up with these visuals that when December finally comes, all the festive splendor is already a blur. I’m convinced that people don’t really need to be reminded that Christmas is in four months – they remember it quite well by themselves. And they will go to malls and buy those pretty blankets which are a special offer anyway, be cause they know they’ll need them as gifts in several weeks’ time, but not just because there’s a cardboard reindeer prancing around the shelf. Speaking of the latter, many people find that Christmas is becoming more and more about commerce, losing touch with its essence. No one is denouncing the spiritual meaning of Christmas, of course, but commercial campaigns appear to be more aggressive each year. With such load of offers, it can be hard to discriminate between what you really need and what you may buy to probably give off at Christmas. It might appear not a problem as such – if you are prone to shopping euphoria, just plan well ahead what you need to purchase and what extras you can afford. However, it looks like this solution is not obvious to everyone, judging by hordes of avid customers and lines at the checkout†¦ And it’s what I really hate about Christmas – the shopping frenzy. Not only do you waste time because of crowds and standing in lines, but due to traffic congestions as well. People get more tense each day, work extra hours to be able to afford all the gifts,  grow even more nervous, have trouble sleeping, concentrating and thus become less effective in all tasks. Instead of slowing down and enjoying the comfort of home they get stuck in another rat race. Consequently, come Christmas they’re too exhausted to celebrate, go on family trips, party with friends, or, in more severe cases of burnout, too apathetic to even look after themselves. It might strike you as rank pessimism; but I cannot help resenting the whole lot of things that make Christmas now totally different from how I remember it. Well, I guess, no one can change the way it is; but we can do what’s in our power to make Christmas nice and cozy for ourselves and our families.

African-American Segregation and Isolation - 2443 Words

African-American Segregation and Isolation Introduction From 1865 to the present, white Americans exploited the Black population, whom they regarded as inferior in every aspect of life in order to justify slavery and discrimination. For about a century, the Blacks have struggled hard to end segregation, discrimination, isolation to which they have been subjected in order to attain equality with the whites and enjoy civil rights. Analysis Thirteenth Amendment, Convict Leasing When Georgia ratified the Thirteenth Amendment, which abolished slavery in the United States, African-American slaves became officially free (Flamand, 2012). During the Reconstruction period, it was not certain if slavery was permanently abolished or if some form remained or would reappear. White Southerners still wanted to keep newly-freed African Americans working for them at the lowest level. They evolved the convict leasing system during this period. It allowed private contractors to buy the services of prisoners from the state or local governments for a specific duration. The large majority of these convicts consisted of African-Americans, who were subjected to strong but selective laws and discriminatory sentencing. It was a different form of slavery, but still slavery. It forced officially free and innocent men to hard labor without compensation for white masters, through extreme and extraordinary physical means. Convict leasing drew its constitutional basis from the ThirteenthShow MoreRelatedEnd of Segregation1204 Words   |  5 PagesThe End Of Segregation Christine E. Parthree HIS 204 Prof. Joshua Ozymy February 19, 2012 African Americans have helped to end segregation, discrimination, and isolation to bring forth equality and civil rights by producing strong outstanding citizens like Roas Parks and Dr. Martin Luther King, Jr. While segregation and isolation have completely ended for the African American people, discrimination is still around today. Rosa Parks was an outstanding woman. She spent all day workingRead MoreThe Unequal Separation Of African Americans1453 Words   |  6 PagesAfrican Americans as a whole agree that racial segregation has affected their chances of employment, residency, education and access to proper health facilities. Many have stories and experiences of being qualified for a job but being turned down for being African American. Several experiments have been conducted where an African American would attempt to view homes in diverse neighborhoods and be turned down and white co-workers or friends would call immediately after and be invited to come in.Read MoreHistory of Civil Rights in America Essay1515 Words   |  7 Pageswe as a nation have been openly discriminating against African-Americans for many years. For nearly as many years as Americans have been discriminating against African-Americans, people have been fighting for some form of equal rights for everyone, especially the African-America ns. History has shown that African-Americans have had some of the most valuable personal contributions that invariably led to the balancing of the tides of the American population. People are always the driving force behindRead MoreRacial Segregation Within The United States780 Words   |  4 Pagesthe distinctive patterns of poverty among African Americans revolves around the question, â€Å"is it class or race that causes (and perpetuates) such misfortune of African Americans?† Scholars have looked at patterns of residential segregation in their attempts to answer such a question. Massey and Denton explore racial residential segregation in the United States throughout the 20th century. They argue that the making and concentration of the (African American) underclass in inner cities resulted fromRead MoreRacism And Ethnic Separation Of The United States1386 Words   |  6 PagesUnited States has been a noteworthy issue subsequent to the provincial period and the slave time. Legitimately or socially endorsed benefits and rights were given to White Americans that were not allowed to Native Americans, African Americans, Asian Americans, and Latin Americans. European Americans (especially Anglo Americans) were conceded select benefits in matters of training, migration, voting rights, citizenship, land procurement, and criminal method over timeframes reaching out from theRead MoreRace, Place, And Opportunity By John Powell845 Words   |  4 Pages After the Civil Rights Movement the issues of segregation should have slowly diminished, but still over decades after that significant event people are being placed and given discriminating opportunities throughout the country based on their race. Trying to gain perspective of the situation, blacks and minorities are given opportunities based solely on where they live. Blacks are being placed by the government in environments that are grimy and cheap to manage, while whites are geographically placedRead MorePoem Analysis : I, Too1088 Words   |  5 PagesI, Too â€Å"I, Too† a poem written by Langston Hughes, in a perspective of an African American narrator during the Harlem Renaissance Era. He shared his feelings and thoughts about how he was treated an simply how he felt towards the way black people were being treated by the white people and segregation of race during the 20th century. The poem was written in five different stanzas in a form of free verse, meaning the poem does not rhyme or have a regular meter. The sentences of the poem were shortsRead MoreAfrican-Americans Struggle for Equality2515 Words   |  10 Pagesï » ¿Though the conclusion of the American Civil War in 1965 marked the end of slavery in the United States, African-Americans would not see anything resembling true freedom from the segregation and isolation imposed by slavery until very recently, and only after decades of difficult struggle. Some of the most important achievements occurred during the 1960s, when a generation of African-American leaders and ac tivists, including Martin Luther King Jr., Supreme Court Justice Thurgood Marshall, and theRead MoreThe Civil Rights Movement And The Movement Of The 1960s1513 Words   |  7 PagesThe civil rights movement was a large and very popular movement that secured African Americans equal access and opened doors for the essential benefits and rights of U.S. citizenship. In spite of the fact that the foundations of the movement go back to the nineteenth century, it crested in the 1960s. African American men and ladies, alongside whites, sorted out and drove the movement at national and neighborhood levels. They sought after their objectives through lawful means, arrangements, petitionsRead MoreA Cycle of Struggles Endured by the African American Race1301 Words   |  5 Pages African Americans, among their families, and their communities find themselves in an unceasing battle for survival in a world that has previously, and to this day, brought many hardships and sufferings. Although Ameri ca has succeeded in abolishing slavery, there are still aspects of racism and economic segregation that occur within residential areas. This being said, many individuals of the African American race become primary targets and victims to devastating economic and social disadvantages

Business Capstone Project Case study of Forward Sports

Question: Discuss about theBusiness Capstone Projectfor Case study of Forward Sports. Answer: Cost Benefits and Potential of Online Sale of Sports Goods from Pakistan: Case Study of Forward Sports Introduction to the Literature Review Like every other Asian and European countries Pakistan has excelled itself in sports. The demand of sports has been increasing over time. In addition, the country has started participating in large sports programs. Therefore, the demands of sports goods have also been increasing rapidly. This has opened up the path for the organizations that provide sports goods to build the business in Pakistan. Most of the large sports brands like Adidas, Nike, Reebok and other sports have paid attention to penetrate in the market of Pakistan. However, as the business environment has become dynamic in nature, the brands or the organizations have to look for the ways that strengthen their business and bring in the desires profits. In this context, Bryde, Broquetas and Volm (2013) commented that major challenge for the organizations is to expand the business or their reach as opening stores in new locations requires huge investment. Therefore, instead of physical expansion, selling the goods online i s a significant option that offers the opportunity to the brands to accesses and meets the needs and demands of the products. The best part of online selling is that it allows the organizations to conduct their business without making large investment on the taken initiative. As mentioned by Klaus (2013), the development of Internet has generated a new pattern of the traditional way of sopping. Likewise, the customers no longer want to spend time in searching for the products in opening location. Therefore, it can be added that the internet has become a new medium for the communication as well as the exchange of information which has been there in daily life of people. As opined by Czinkota and Ronkainen (2013), the development of IT services largely contributed to the implementation of the initiative of selling products online. It is also observed that marketers are largely focusing on the trends of e-commerce. The organizations have found the feasible solutions to sinking business sector of the Pakistan. Many large organizations have embraced e-commerce for the development of the business ad they have bee n progressing through this particular tool for long. In addition, this has been conspicuous that online businesses play a significant role in the international economy. In this context, Pickernell et al. (2013) commented that internet could make it easier for businesses to have information on the products available to their potential consumers. An organization could meet their individual needs of consumer information to a lower cost per report to the delivery of products. In this context, Cullen and Parboteeah (2013) discussed the relationship between the marketing strategies and the consumer behaviour. The author has mentioned that the strategy revolves around profitability as well as the frequency of buyer behaviour. Hypothesises H0- The invention of internet and development IT infrastructure have contributed to the selling of products online H1-The e-commerce business has opened up new ways for accessing the markets within a short time making small investment H2-Large sports brands have got the access to penetrate in the economically poor segments of the market leveraging small amount of capital and earn desired amount of profits through the trends of e-commerce. Defining the 1st key Word E-business largely influencing the global economy The impact of e-commerce is one that has brought in a drastic change in the conventional market. As commented by, Rahimnia and Hassanzadeh (2013) E-commerce has widely been embraced since it has clicked immensely for many businesses. It can be added that the techniques of online selling has largely helped the small and medium organizations that do not have large capital to reach the target market. Subsequently, small and large organizations are providing the services to the customers without having any physical expansion of the business in the target market (Mohapatra 2013). Providing Strength and Weaknesses Strength Easy reach to the customers in the targeted market Free from the investment of physical expansion Weaknesses Consumers have the major concern regarding the security system Maintenance of websites Website stickiness and customer loyalty Cost Analysing the Hypothesis It is evident that e-commerce has strong impact on the global economy as the e-commerce includes different business transactions namely business to business (B2B), business to consumers (B2C) and B2G (Business to government) (Eid and El-Gohary 2013). In addition, the Internet has become the fundamental choice for the electronic commerce. Thus, the invention and the development of internet could certainly influence the global economy since all organizations are considering the trends of e-commerce as the way of accessing new market within short-time. Defining 2ndKey Word Trends of e-commerce provides unprecedented opportunities to both developing and developed nations As the trends of e-commerce have still been gaining the popularity due to the idea of e-commerce, which has just been applied in the field, the some of the small and medium size organizations are trying to deal with the potential barriers associated with the idea. As commented by Chong (2013), in the short-run, the gains are probably to be observed in the developed countries; however, in the long run developing countries have to put more effort to gain the benefits. This happens due to the fact that developing countries lack the infrastructure required to gain the full advantage of the internet (Haufler 2013). However, in the long run these developing countries like Pakistan could skip some of the stages in the development IT through which the developed countries like UK, Australia have to pass (Hill, Cronk and Wickramasekera 2013). Countries Percentage Pakistan 19% China 27% India 24% Indonesia 22% Other Asian countries 18% Table 1: Growth of E-commerce in Asian countries (2015) (Source: Eid and El-Gohary 2013) Graph 1: Growth of E-commerce in Asian countries Providing Strength and Weaknesses Strength Internet is gradually providing the opportunities for B2B, B2C and B2G through the nations Low investment and maximum profits Weaknesses Under developing countries do not have the infrastructure to use implement internet for developing the business Analysing the Hypothesis While comparing the advantages and disadvantages of online selling, it has been identified that apart from few infrastructure and technical barriers, the implementation of e-commerce brings in a huge amount of return on investment. On the contrary, as the large sports brands in Pakistan do not get the full access due to some country regulations, unstable political environment, there is state of deficiency in the supply of the products despite the increasing demand (Coughlin and Novy 2013). In addition, Pakistan has increasing population; thereby, the marketers find optimal opportunities for expanding the business accessing the targeting market. However, unstable economic environment, continuous war large sports brands lack interests in expanding the business in Pakistan. Defining 3rdKey Word Effects of online selling trade on global trade and employment The consumption of internet could make the technique initiating and conducting the trade easier and faster with less expense. As mentioned by Klaus (2013), the gathering information appears to be a costly activity. In addition, these costs may appear to be high and substantial challenge to the business. Searching the right supplier of sports goods and specifying products requirements as well as marketing of those products seems to be very expensive. Therefore, with the help of internet and applications of e-commerce, the entire range of these activities without forming relationship between the buyer and seller, the brands could satisfy the needs of the end users. As opined by Czinkota and Ronkainen (2013), the internet could likely promote business in the similar way as lifting other business challenge would. Therefore, it can be mentioned that volume or the range of international business is likely to increase. In addition, it has also been identified that internet when organized wi thin the electronic markets via e-commerce applications decrease the cost of information and allows the customers and the sellers communicate electronically. Providing Strength and Weaknesses Strength E-commerce could continuously influence the trade services. One of the most relevant changes in the trade is e-commerces as well as ITs ability to make non-tradable service into tradable Weakness A technical enhancement reduces the expense of transactions and generates a large amount of profits compared to the triangular efficiency opportunities from the trade liberalizations. Analysing the Hypothesis As online selling and trends of e-commerce provide different trade opportunities for expanding the business for developing and developed countries, as sports brands in Pakistan may not gain those opportunities (Cullen and Parboteeah 2013). For example, it is observed that the potential advantages from global e-commerce to a developing country Pakistan from a decrease in the expense of imports, which is similar to the increase in the price gained for exports. It was also studied in the literature review that e-commerce continues to strengthen its impact on the employment as well as the wages may be the result of emerged complex set of interactive forces. Therefore, it can be mentioned that electronic commerce is likely to create directly and indirectly new employment opportunities. On the contrary, it has also been identified that indirect creation of employment could occur through increasing demand and productivity. In this context, Mohapatra (2013) argued that the employment opportunity might lack when the online selling retailers substitute for the conventional ways of conducting the business. Hence, the employment opportunity may lack. Therefore, hence, the under developing country like Pakistan needs to develop its infrastructure of information technology as certain IT skills are required to operate e-commerce in the country. Again, this may create employment opportunity in the country. Defining the 4thKey Word Dynamic scenario of sports industry in Pakistan The size of the domestic sports market is comparatively small because the Pakistan society mostly focuses on the Islamic studies (Chong 2013). Thus, the sports are yet not treated as the means of livelihood. Instead, it is still now considered as the source of entertainment. This leads to less participation in the sport sector. There have also been some other challenges such as the non-availability of IT infrastructure, which could facilitate the access online trading and existing inability for the facilities as well as purchase sports. Notwithstanding, Pakistani Government has now started spending more on the sports goods (Eid and El-Gohary 2013). However, sports are yet treated as a recreational activity; therefore, the consumption rate of recreational activities is growing in Pakistan. This is one of the significant opportunities for the online retailers to get into the market. Figure 2: Consumer expenditure of sports goods by 1993-2012 (Source: Haufler 2013) Providing Strength and Weaknesses Strength A significant segment of population in Pakistan has turned to fitness as well as exercise as the element of developing lifestyle. A considerable number of sports equipment sold out by the manufacturers through online shopping networks. The development of new sports also has impact on the youngsters in Pakistan. Weakness Less demand of sports programs in Pakistan influencing the sports brands Analysing the Hypothesis It was studied in the literature review that geographical location could be significant in retailing. The sports goods customers are not certain what they wish to buy to become able to make comparison among different types of shops and retailers (Haufler 2013). Hence, the significance of geographical locations referred to the domestic market power that can be high as well as the ability to find the right location for trading, which appears to be a significant barrier. Conversely, online selling techniques make it easy for the marketers to focus on the target market. With the access of internet, the sports brands could retrieve the information regarding the needs and demands of the products. On the other side, by adopting traditional ways of trading, the marketers take a lot of time to meet the needs of the customers (Coughlin and Novy 2013). At the same time, other brands following the traditional ways find the rush to access the markets. This eventually results to the increasing com petition. Conclusion On the completion of the report, it can further be added that trends of online selling of products have large impact on both domestic as well as the global economy. 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