Tuesday, December 31, 2019

Industry- I Have Worked In Retail Management All Of My

Industry- I have worked in retail management all of my career. I have specialized in human resources for the past 20 years. I have a true passion for all aspects of human resources and have accelerated my career in becoming an HR Guru. The most intriguing aspect of human resources that I have grown most fond of is training and development. I have gained a lot of education and experience in developing content and facilitating. Using my years of hands on experience I gained how to run a billion dollar business. Meshing my education, certifications and years of actual practice in my specialized field of human resources I decided to open my own training and development consulting firm Upward Performance. Why I became an†¦show more content†¦I want to build an empire that will ultimately give me the flexibility of being in control of my schedule and plan my work around important family matters. Another reason why I decided to become an entrepreneur is because I have seen so many people live out their dreams and find the gratification I dreamed of. While working for Sam s Club I had an inside look at small business owners manage their business. I have encountered countless entrepreneurs find ways to reinvent themselves and provide a services and or products that continuously make their business relevant. I was also intrigued by the Sam s Club concept of a business helping businesses. Early in my career I decided to learn as much as possible from the retail giant and strengthen my business acumen. I knew if I took every stretch assignment, volunteered for special assignments and purposely asserted myself in other aspects of the business I would get a comprehensive insight into running a successful business. I opened my business Upward Performance with the same concept in mind. I am helping small businesses and non-profit organizations with employee training and leadership development. I have many years of experience of analyzing, developing, cultivating, mentoring, recruiting and shifting leaders by empowering them to soar into their purpose. Working for Walmart Stores Inc. (Walmart Stores and Sam s clubs), I learned how to be an entrepreneur. I learned how toShow MoreRelatedI Am An Expert At The Store1664 Words   |  7 PagesTalbots, I feel I have grown not only as an employee but also as a person. Talbots has given me the skills and information that I will need for my corporate internship and for my future. As my time at the store comes to an end, I feel it is important to evaluate myself on my performance at the store. I used the final evaluation sheet given to me by my professor and self-evaluated my performance. Overall, I would rate my performance at the store as outstanding, or a 9/10. I personally feel that I haveRead MoreCritical Analysis of Business Process Change1604 Words   |  7 PagesProcess Change my possibilities for the future are more promising. When working in any business field, you need to fully understand how business plans operate. When changes need to be made it is necessary to understand how to do this. By having a strong grasp on this information I will be better informed to make stronger decisions. This relates to my future because no matter the business field, you need to understand how to make a change to a business process. When thinking about my future plans toRead MoreProfessional Summary. Over 6 Months Of Experience As A1118 Words   |  5 Pagesexperience leading operations of a retail stores owned by Foodstuffs New Zealand and have gained strengths in sales, marketing and business development processes. Strong management skills, including staff management, negotiating with vendors, product sourcing, pricing for profit, training, stock maintenance, bulk buying and one off specials and techniques to present the product, forecasting and placing backorders for future. A strong experience in using Retail Management system software (RMS with UNIXRead MoreProfessional Experience : Allstate Insurance Company Essay1087 Words   |  5 PagesTell me about yourself: PROFESSIONAL EXPERIENCE Allstate Insurance Company 02/2000—05/2016 Processing Support Associate III I was in the insurance industry for 16 years providing outstanding customer service at Allstate Insurance Company. Throughout my time at Allstate, I was given the opportunity to grow and develop my skills. †¢ Performed data entry on sensitive insurance policy information: customer service, the ability to read and understand State specific Rules Rating criteria, companyRead MoreTo Be a Retail Assistant Manager779 Words   |  3 Pagesstable job you need to have some sort of knowledge in what you are doing. Even working at a department store requires sone knowledge. You need to be able to work with customers and be up to date with everything that involves the store. During my visit to mothers job I acquired some knowledge on how to manage a store. My mother works at Nordstrom as a Retail Assistant manager. Most of the time she was on the go and extremely busy. Customers had issues that she needed to solve. My mother had to fire andRead MoreThe Importance of Labor Relations and Human Resource Practices: Macys Inc Case Analysis1755 Words   |  7 Pagesprocesses of a company. Through my interview, I gained a new prospective of the Human resource department, and how it functions rel ative to others departments within the corporation. Through my interview, I also gained insight into many of the common myths and misconceptions regarding the labor relations and human resource function. This insight was particular helpful in regards to the retail industry. The individual I interviewed worked was Macys, which is a premier retail organization with the UnitedRead MoreCareer And Business Essentials Of Real Estate Industry Essay1650 Words   |  7 PagesReal Estate Industry Maha Khaled El Deeb Sales position CAREER AND BUSINESS ESSENTIALS Dr. Stephanie Cato Berkeley College Table of Contents Abstract †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦......3 The Industry Section †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4 †¢ What is the selected industry you are entering(Description)? †¢ Why are you entering that particular industry? †¢ What are the potential positive or negative trends that can affect that industry over the next 1-5 years? The Career Path Section†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreWorking At T Corporate Office1706 Words   |  7 Pagesspend a few minutes answering questions for my school project. She is a great reflection on how the employees are to work with at ATT. I learned that you have to be willing to go lateral sometimes to be able to climb the career ladder. Also learned that being union you are in a very structured environment. That made me curious of what the future is for the union and also HR. We are moving towards where a lot of employees will work from home so we have to be on top of our game with technology. BeforeRead More Post Fordist Elements at a Small Clothing Botique1239 Words   |  5 Pagesthe Bikini Front This past summer I worked in a small clothing boutique called Exposure. We sold overpriced bikinis, flip-flops, pants, shirts, and skirts and it was the worst job of my life. I had spent three months experiencing life in a secondary labour segment and it is something I never want to do again. Flexible labour, no benefits, no overtime, and soldiering was enough to make anyone quit their job. Although it was a dreary way to spend part of my summer it was an interesting learningRead MoreBusiness Manager Is An Individual Imposed With The Running Of A Business1428 Words   |  6 Pagesprocess. I have always been interested in business management. I am getting my Associate degree at Salt Lake Community College, and then transferring to Business school. With an associate’s degree in business, I will qualify for entry level positions in the field. With a bachelor’s degree, I will advance my knowledge with skills of organizational leadership, managing people and strategic planning. With a bachelor’s, I will qualify for a variety of business roles. A degree in business/management can be

Monday, December 23, 2019

The Principles Of Lean Manufacturing - 1075 Words

The primary use of lean principles was in the manufacturing domain earlier, later it spread to various processes across various industries. It was believe that the idea of lean originated in japan (Toyota), but there is evidence that the Mr. Henry Ford, the founder of Ford Motor Company has been using the principles of lean in the early 1920’s. Henry ford thought that shortening the time a product takes in a production is a key solution to reduce the overall cost of the product [4]. If a product spends large amounts of time in a process of manufacturing, the overall costs goes high, one of the reasons being more material handling. There are primarily 5 principles of lean manufacturing [9]. Those 5 principles are as follows: 1) Specifying†¦show more content†¦Most people tend to misunderstand lean by identifying the non-value added processes and working on them to eradicate them which in turn increases the amount of non-value added tasks. VALUE STREAMS: Value stream is a map of processes in the order of which they run. Creating a value stream is of key importance in understanding the value added and non-value added processes. Value streams help us identify the whole production process as a whole while giving us insight on all the sub processes that go through. Value stream processes may also depict the flow of information. VSM requires various departments to come together and prepare the map, it is not an individual job. FLOW: We continuously try to establish a flow between values added processes. A value added process must not be hindered by a process which of no value. If possible, non-value added processes must be done in parallel. PULL: lean concentrates on pull system. Pull system is making the product when it is required. This tends to minimize the wastage and also has minimal inventory. Employees stay idle when there is no order but the value is from the final product. Industries following push system can face a few problems in the form of over production and inventory wastages. Producing first and storing it in warehouse eats up the capital that is invested and is a considerable waste. PERFECTION: Perfection is achieved when the

Sunday, December 15, 2019

Meco, Relations Between the Philippines and Taiwan Free Essays

It was established in 1975 and is organized as a non-profit and non-stock private corporation under Philippine law. B. About the Administration MECO promotes trade, investments, tourism, and labor, scientific and cultural cooperation with Taiwan. We will write a custom essay sample on Meco, Relations Between the Philippines and Taiwan or any similar topic only for you Order Now The MECO provides assistance to Filipinos in Taiwan and provides visas, legal and consular services. The MECO coordinates with the Philippine government agencies and the private sector to fulfill this mandate. C. The Functions of the Administration MECO has its head office in Makati City, Philippines, principal representative office in Taipei and extension offices in Taichung andKaohsiung. MECO’s Chairman and Chief Executive Officer are Chairman Tomas I. Alcantara and its Resident Representative and Managing Director in Taiwan is Ambassador Antonio I. Basilio. D. Roles and Responsibilties MECO’s main function is to serve as a liaison between the Filipinos and Taiwanese. They make sure that the relationship between Taiwan and the Philippines is in good standing at all times. MECO also solidifies the Philippine government’s commitment and advocacy to serve Filipinos living and working in foreign countries. II. MECO A. ) Location and People in Charge The people on top are Chairman Perez and Ambassador Basilio. Chairman and Chief Executive Officer are Chairman Tomas I. Alcantara and its Resident Representative and Managing Director in Taiwan is Ambassador Antonio I. Basilio. – B. ) Why was it made? – It was established to continue relations with Taiwan after China was recognized as the legal representative of the Chinese people. This made Taiwan sort of a non Country. As long as it about economic relations its ok with China C. ) What is its primary goal? Primary Goal of Meco -is to promote economic relations like trade, investments, labor and tourismIII. Vision A. ) MECO’s Vision -to become the primary mechanism for promoting beneficial relations between the Philippines and Taiwan. B. ) Long Term Goals -to maximize the potential of our economic relations, because right now were the 5th largest trading partner B. ) Short term goals -Make meco an effective org so that it can deliver and be effective to its mandate, and to be able to perform its role in government, because the DFA doesn’t entirely do this with Taiwan. C. ) Overall goal -Exactly like the Long Term goal, to be an effective institution that serves its cause. IV. Mision A. ) Legal Services Consular services like issuing to Taiwanese visitors to the Philippines, issuing and renewing passports for Filipinos in Taiwan, Marriage certificates, Police Clearance, when Filipinos in Taiwan get into trouble MECO makes sure they get legal support. B. )Other Services -Consular If you’re a Taiwanese and you want to go to the Philippines, meco supplies you with a visa with approval from the dfa, also for Filipinos like passport renewal -Tourism Talk to airlines, travel agencies to encourage them to have more flights and to organize travel packages, approach market to directly advertise Trade and Investment Meco has an officer from the dti, meco supports his/her activities, supports trade and investments with Taiwan, and participates in trade exhibitions in Taiwan and the Philippines – Assitance to Nationals Filipinos in Taiwan who run afoul of the law or has cases against his or her employer, meco provides shelter and hires a lawyer for the oppressed – Info Center Mecos main goal is to generate positive news about the Philippines in Taiwan, releases regular press releases. How to cite Meco, Relations Between the Philippines and Taiwan, Papers

Saturday, December 7, 2019

Accounting and Financial Management Sustainability Framework

Question: Describe about the Accounting and Financial Management for Sustainability Framework. Answer: Part A Executive summary The main focus of the report is to describe the business activities and financial reporting of Blackmores. The company is the market leader in the health care sector and puts focuses on its sustainability framework in order to increase its values in the market (Berk and DeMarzo, 2007). The organization has deliberately applied a range of strategies and in operational activities keeping in mind the end goal to enhance its sustainability and in moving towards achieving superior transparency with respect to the environmental impact of the organization. The natural and also social effects of the organization have been talked about alongside its history, products and location (Block et al., 2011). The gap analysis will help to estimate the gaps between the facts and figures provided by the organization in the annual report with data gathered from other sources according to the rules and guidelines of GRI, which would be beneficial for the shareholders and stakeholders of the company. Introduction The organization Blackmores is a reputed organization in Australia and considered as one of the largest organization in the healthcare sector and leader in the market of healthcare sector. However, the organization started its business activities in the year 1930 by the Maurice Blackmore, was a migrant and his thinking was relatively revolutionary (Butler, 2012). He starts the organization with a dream to give the general public better medicinal services with the use of naturopath treatment and natural herbs for guaranteeing the better wellbeing of the people in the community. During the time of its operations the organization has accomplished recognitions and many awards and the company has build its reputation in the market as well as achieving the competitive edge in the market (Elliott and Elliott, 2008). The organization has shown significant financial growth consistently and recorded among top 100 organizations in ASX. The organization basically manufactures vitamins products a nd around 250 different types of products that are manufactured and sold by the organization. Apart from this, the organization also manufactures wide range of herbal products and minerals and nutritious supplements according to the requirements and demand of the customers. Other than this, the organization provides wide range of health care services, which are valuable and popular among the general public (Fifield and Power, 2011). The organization is started at the Northern Beaches, Warriewwood on of Sydney and the internal enviornment of the organization gives a standard and friendly work place for the employees that lead on an adjusted way to deal with wellbeing, environment and life work. The campus size is 27,000 Square meters and the company has more than 7s00 staff serving the company. Main body The organization puts huge efforts on the advancement of the sustainable business and minimizing the natural effect of the organization and it will help the organization to improve its environmental and social acknowledgment, as in the blink of an eye everyone knows about the environmental impact. For a several reasons like use of vehicle and increasing number of production lines enhance the toxin level in the air in this way increasing the pollution level in the air (Helbk, Lindest and McLellan, 2010). As an after effect of contamination, the existence of the green house gasses, like methane, carbon monoxide, carbon di oxide has been increased considerably that is considered as the fundamental driver of the global warming, and increases the risk for the general public. The customers prefer the product and services of the organizations, as they are eco friendly and economica. Thus the contemporary usiness associations gives great emphasis on creating viable CSR systems keeping in min d the end goal to build up them as the environmental friendly and socially responsible organization. The organization has been awarded as a well known recognized company in the field of sustainable business (Hillier, 2010). The supply of the energy is done through the grounds because it decrease the level of carbon di oxide decreased. Next to this, the organization uses solar chimney that give office of regular ventilation (Holton, 2012). The organization is attempting to decrease the environmental concentration alongside carbon impression by the start of the organization. The organization company saves at time of start thus enhance the effectiveness of the employees. Around 75% of the waste redirected from landfill. The organization has created administration framework for controlling environment issues and so as to deal with the ecological effect of the organization. The wastage of food from the industrial facility includes products is utilized for delivering green power (Moles, 2 011). The organization has embraced the Recycling Label Plant Ark in Australia. The organization has also faced many threats from the activities plans and systems to enhance the efficiency of the waste administration also recycling the consumption of energy of the organization. The organization's waste execution plan improves its abilities in managing the wastes and also to set up a novel recovery process and plan (Moretto, 2008). Presently just 28% of waste sent to the dumping field and the present rate 30% and the redirection rate is 72%. The report GRI assist in the making of sustainability report based on the operations and goal of an organization. The report comprises of the strategic analysis, authoritative profile, general disclosures, determination of the material aspects and limits, partner's engagement, the report profile, administration and morals and reliability (Spiceland, Sepe and Nelson, 2011). The examination gives the general perspective in regards to the management of the stakeholders with giving support according to the rules of the report. The system and analyzing the data in this manner that helps to make strategic management. The report likewise gives the vital articulation which exhibits the vision and strategy of the medium term, short term and the long term goals (Stittle and Wearing, 2008). The key accomplishments that are incorporated into the case help to provide suitable judgement and in this manner the acknowledgment of the standards are appropriately maintained with furnishing the executio n in respect to the objectives. The difficulties for the organization are delineated with giving the objectives to achieve high performance level and in this way the approach of strategy is by all accounts fulfilling the things that relate the approach of the organization (Wild, 2005). The sustainability report of the company in the years 2016 and 2015 portrays decrease in the risk that are explained in the environment of the corporation. The significance is given to the public safety and common health that priorities the objective of the corporation (Wolf, 2008). The sustainability for an organization rotates around the employees, community, representatives, shareholders, administration and the investments for future development of the corporation. The commitment provided for sustainability gives the perspective to the formation of demonstrated adequacy, ingredient traceability, demand in the market, increasing employee efficiency and product quality. It gives the report of increase in stock on hand available with in this manner making direct source with the key fixings (Zopounidis, 2008). It additionally gives reasonable production network administration so as to empower the backing and encourage the ecologically and the socially capable methodologies for supply chain management. The distinction that is shown in the report gives provides distinction between the partners and the shareholders of the companies. Every one of the partners is not shareholders but rather shareholders are clearly shown in the financial statements (Business analysis, 2008). The shareholders appropriately described in the sustainability report of the Blackmores however shareholders don't comprise of any part in the framework guideline of GRI. The distinctions are made in both the business which is by all accounts delineated for this situation and consequently the separation with the GAP examination is made that is by all accounts fruitful and the system is portrayed with the enhancement of the sustainability report. The evaluation gives the commitment to make sustainable and substantial outcomes that helps in the accomplishment of effective communication system and process. The accountability and transparency originates from clear and efficient communications with the team members and in this way helps in presenting the adaptations of GRI standards and principles portrays G4 form of reporting standards (Cadle et al., 2014). The rules help in going about as the initiatives of global reporting. The advantages that are accomplished by assembling GRI rules with the report gave by company Analysis is by all accounts profiting the potential shareholders, investors and other stakeholders of the company are as per the following:- The examination of the c-suite: The administration can be framed by determining the pressure from legislature with along these lines helps in perceiving stock trades, markets, speculators and general public everywhere to be straightforward. This associates the process of communication and in this way the advancement is made by the improvement of sustainability targets (Cadle, Paul and Yeates, 2010). The thought of the senior administration information should be completely checked with making the effect of the organizations dedication and in this way the dedication is settled in the term of time and cash. The administration and the dedication make a bolster base for sustainability and for change of the association. The present material issue and the need for setting the materiality framework state-of-the-art is made with concentrating on usage of appropriate techniques. The standard refinement between the G3 and G4 rules are distinguished with putting emphasis on the way toward reporting keeping in mind the end goal for the examination which is by all accounts occurring and in this manner the investigation helps in the making the center as to the present reporting. For reporting issues that is by all accounts most represents the relevant key stakeholders and in the meantime they turn into the accomplishment for the association (Cadle, Paul and Yeates, 2010). Reporting changes from the fulfillment helps to maintain the environmental, economic and societal issues and in this manner it demonstrates that the partners and the general public is kep at large position in the organization. The materiality assist in making easy to use environment with giving the sustainability report and along these lines the making of exertion gives sustainability report and framework for the improvement of the entity. The GAP investigation helps in the production of values for the company with the use of the indicators of GRI which is by all accounts adequate as indicated by the new G4 GRI standard Disclosures. Besides the identification of GAP assists in demonstrating the qualities with making appropriate rules and guidelines and giving proper usage plan to the examination (Financial statements, 2013). Conclusion The report comprises of all the essential reports and has been shown in the case study which gives the structure of benchmarks that are delineated for both the associations that is the company and GRI. Therefore, the report comprises of working environment group with creating the development of structures with showing the business structure and development of sustainable environment with the correlation made for supply chain management. However, the natural and social effects of the organization have been talked about alongside its location, history, and products. Likewise the differentiation is made for the companies in appreciation to the general principles. Part B The costs associated with the business activities The significant expense connected with the business activities of the Global Therapeutics incorporates clinical trials, business supplies, non clinical studies, promoting cost and different exercises. The offering, showcasing expenses and associated manufacturing cost with GBT440 and different items incorporates cost and time so as to grow the sales and marketing abilities (Gowthorpe, 2008). The clinical practice likewise incorporates expense of business and the supplies of clinic that incorporates enrolling the patients for the trial in clinics in a convenient way. The expense is important to enhance technologies, maintaining and future acquisitions, expanding and to protect the intellectual property portfolio. Enforcing and getting of licenses of biopharmaceutical is very costly. The organization has likewise to invest into the innovative work of the products. Other expense incorporates pay rates, hardware, rent and protection (Revsine, Collins and Johnson, 2005). Estimating the cost behavior Variable Cost Amount ($) Fixed Cost Amount ($) Clinical Studies 250000 Building 2500000 Clinical Trial 400000 Intellectual Property 3500000 marketing Cost 300000 Equipment 600000 Commercial supplies 1,000,000 Salaries 1800000 Research Development 700000 Rent 50000 Insurance 250000 2650000 8700000 The expense associated with an organization includes fixed expenses and variable expenses. Fixed expenses are the cost that commonly does not vary with the increase or decrease in the amount of items sold or manufactured. The expenses have to be paid by the company. Variable expenses are the costs that fluctuate with the level of production of products. In this manner, it relies on upon the level of production (Robinson, 2009). Cost behavior The breakeven analysis of the company help to measure and inspect margin of safety of the organization on the premise of related expenses and income gathered. It will empower the organization to investigate different price level in relation to different level of demand. Accordingly, it decides the business level that will be expected to take care of fixed expenses. The breakeven of point of the company Global Therapeutics would be ($2650000+$8700000=$11350000). The breakeven examination is a valuable instrument that helps to decide the level of production or the desired sales target. It examines the level of fixed expenses in relation to the profit earned by each unit produced and sold. The net overall revenue of an organization can be increased with the increased in the income and diminishing the expense of production (Wild, Bernstein and Subramanyam, 2001). Therefore, the production expenses can be diminished with the assistance of executing proper procedures, strategies and method s. Balance score card Financial Objective The objective of the organiztion is to invest into its business activities such as investing for the development of the product, marketing activities, assts and operational activities Outcome The company Global Therapeurtics has implemented startgies and techniques to achive its financial objectives Driver to measure The financial perfromane of the company can be measured with the help of measuring the financial ratios that help to evaluate profitabiliy, efficiency and liquidity level. Customer Objective The objective of the organization to increase the quality of care with the adoption of appropaite clinical practices. Outcome The company Global Therapeutics has put their efforts and implemneted technology to increase the quality of care and increasimng the satifaction level. Driver to measure The feedback from the customers will help to determine and evaluate the satisfaction level. Processes Objective The objective of the organization is to develop the internal control systrem as well as providing quality care to their patients. Outcome The managers and staff members ha managed apprpaiteluy the internal control system of the company. Driver to measure The coordination among team members, communication flow and tasks completion show the effciiency of the internal control system. Part c Break even analysis Protein Shakes Power-up Vitamin Juices Recharge Bars Expected Annual Sales 15,000 15,000 7,000 Selling price 7.80 9.50 5.60 Sales 117,000 142,500 39,200 Packaging cost 0.35 0.35 0.05 Ingredient cost 3.1 3.60 2.75 Total costs 5,253.1 5,253.6 352.75 Staffing and facilities costs 39,000 39,000 39,000 Marketing costs 9,333 9,333 9,333 Total cost 53,586.1 53,586.60 48,685.75 Breakeven point Power-up Vitamin Juices Revenue = Variable cost + Fixed cost Protein Shakes Sales Revenue = Variable cost + Fixed cost Revenue = $53,586.10 Recharge Bars Revenue = Variable cost + Fixed cost Revenue = $48,685.75 Profit evaluation Revenue 198,336.10 198,336.60 198,335.75 Packaging costs 0.35 0.35 0.05 Ingredient costs 3.10 3.60 2.75 Total costs 3.10 3.60 2.75 Facilities and Staffing costs 39,000.00 39,000.00 39,000.00 Marketing cost 9,333.00 9,333.00 9,333.00 Total cost 48,336.10 48,336.60 48,335.75 Net profit 150,000 150,000 150,000 Memo To: From: Date: Subject: The evaluation of annual profit and breakeven point Recharge Bars Expected Annual Sales (units) 7,000 Selling price 26 Sales 182,000 Packaging costs 0.05 Ingredient costs 1.75 Total costs 351.75 Facilities and Staffing costs 22,000 Marketing costs 8,333 Total cost 30,684.75 Net profit 151,315.25 The Blackmores ought to implement and adopt proper procedures with a specific end goal to increase its sale of products and in addition building up the business sector increasing the market value. The yearly benefit and the breakeven analysis of the organization can be improved with the increase in the price of sale and diminishing variable expenses and the fixed expenses. The increase in sales of items and decrease in the expense of the items will increase the profit and the market estimation of the organization (Financial statements, 2013). The increase in internal control systems, operation efficiency, variable cost, product quality, appropriate level of price and marketing activities that will help to increase the profits. The expansion in operation productivity, inside control frameworks, amplifying stream of money expanding nature of item, deciding suitable cost level, embracing promoting exercises will build the benefit. The directors and fund division assumes a critical part in the administration of the expenses and income of the organization. The preparation of the financial statements would help to estimate and assess the income, cost, resource, liabilities, benefit or loss of the organization amid a timeframe. The breakeven analysis will evaluate and analyze the margin of safety of the organization on the premise of related expenses and income gathered. The administration and distribution of asset accomplishes the objectives of the organization. References Berk, J. and DeMarzo, P. (2007).Corporate finance. Boston: Pearson Addison Wesley. Block, S., Hirt, G., Danielsen, B. and Block, S. (2011).Casebook for foundations of financial management. New York: McGraw-Hill/Irwin. Butler, J. (2012).The Financial Times guide to wealth management. Harlow, England: Pearson. Elliott, B. and Elliott, J. (2008).Financial accounting and reporting. Harlow: Financial Times Prentice Hall. Fifield, S. and Power, D. (2011).Managerial finance. [Bradford, UK]: Emerald. Helbk, M., Lindest, S. and McLellan, B. (2010).Corporate finance. New York: McGraw-Hill. Hillier, D. (2010).Corporate finance. London: McGraw-Hill Higher Education. Holton, R. (2012).Global finance. Abingdon, Oxon: Routledge. Moles, P. (2011).Corporate finance. Hoboken, N.J.: Wiley. Moretto, E. (2008).Managerial finance. [Bradford, England]: Emerald. Spiceland, J., Sepe, J. and Nelson, M. (2011).Intermediate accounting. New York: McGraw-Hill Irwin. Stittle, J. and Wearing, B. (2008).Financial accounting. Los Angeles: SAGE Publications. Wild, J. (2005).Financial accounting. Boston: McGraw-Hill/Irwin. Wolf, M. (2008).Fixing global finance. Baltimore, Md.: Johns Hopkins University Press. Zopounidis, C. (2008).Managerial finance. [Bradford, England]: Emerald. Business analysis. (2008). Workingham, Berkshire: Kaplan Pub. Cadle, J., Eva, M., Hindle, K., Paul, D., Rollason, C., Turner, P., Yeates, D. and Cadle, J. (2014).Business Analysis. Swindon: BCS Learning Development Limited. Cadle, J., Paul, D. and Yeates, D. (2010).Business analysis. Swindon: British Informatics Society. Financial statements. (2013). London: BPP Learning Media Ltd. Gowthorpe, C. (2008).Financial analysis. Oxford: CIMA. Revsine, L., Collins, D. and Johnson, W. (2005).Financial reporting and analysis. Upper Saddle River, NJ: Pearson/Prentice Hall. Robinson, T. (2009).International financial statement analysis. Hoboken, N.J.: John Wiley Sons. Wild, J., Bernstein, L. and Subramanyam, K. (2001).Financial statement analysis. Boston, Mass.: McGraw-Hill.

Friday, November 29, 2019

My experiment Essay Example

My experiment Essay The aim of my experiment is to find the acceleration due to gravity otherwise known as g. To do this I could do an experiment that involves a pendulum and the formulawhich can be put into the equation of a straight line y=mx+c Another experiment I could undertake uses a trolley and ramp but a different formula involving mass, which again is put into the equation of a straight line.I am going to pursue the pendulum idea, as it was the original experiment used by Sir Isaac Newton whos value for the acceleration due to gravity still stands today (even with all our modern technology). The trolley and ramp idea seems insufficient as the trolley isnt really in free fall and the friction from the ramp would surely affect my results.I need to make a pendulum that: Has minimal friction at its pivot point, Can have its length easily changed and be accurately measured, Will not swing in a circle, Has a small set angle of swing (drop angle), Non elastic stemI propose two different ideas.Meccano idea: The rigid structure will stop the pendulum swinging in a circle. The even spaces mean that the length can be easily changed and easily measured. Using a wheel as a bob means that you can easily measure to the centre of it. Oil can be used to decrease friction at the pivot A protractor can be placed at the pivot and then the drop angle can be easily controlled. A light gate could be used to calculate oscillations more accurately.Double fishing line idea: The two points of contact will stop it swinging in a circle The line is almost massless which means it has little air resistance and has little negative affect on the experiment. The line can be clamped at the pivot and therefore has minimal friction. By measuring the line and marking divisions with a pen you can clamp the line at exactly the length you want, and easily slide it up and down to change it. Again a protractor can be used to control drop angle.Comparing the two ideas I find that:They both stop the pendulum swinging in a circle. This is important because I need to measure as accurately as possible the time period of a certain amount of oscillations. If the pendulum is swinging in a circle then the measurements will be less accurate. It could also collide with something, which would disrupt the experiment.They can both be measured accurately, although it is much easier to change the length of the meccano idea. The length is included in the formula, it will be one of the things used in calculating the acceleration due to gravity, and therefore needs to be measured as accurately as possible.The fishing line idea due to its clean crisp nature will have less friction at its pivot than the meccano idea. I would have to use oil for the pivot point of the meccano but it still involves the rubbing of metal against metal without bearings.They can both have their drop angle measured.The meccano idea could involve a light gate because its square shape will mean the light can be cut precisely whereas the f ishing line idea has a round bob with no definite cut of point and the fishing line is so thin it would not cut the light. As long as the cut of point is the same each time a light gate should be very accurate but it would take a lot of detailed co-ordination to achieve this. Also generally varying light levels occurring naturally in the room could affect the light gate. So as long as I work out my margin of error doing it manually would be just as accurate.Rigid pendulums are used in clocks so they must be accurate as timekeepers. Yet an Internet site (http: kossi.physics.home.edu/Courses/p23a/Experiaments/Pendulum.html) about the experiment stated that it recommended the use of a massless, inextensible string. All experiments I have seen also use some sort of string rather than a rigid structure.On this basis and previous reasoning I am going to use the fishing line idea.Apparatus: Fishing line Clip board clips Reasonably small cylindrical weight with attaching ring Two points of bearing so that the position of the bob at rest can be accurately seen when oscillating. Either a stand or clips from the ceiling or table. A stopwatch A protractor to measure the drop angle. A meter ruler or tape measure to measure the length of the pendulum.Fair test:There are three variables that could affect the result of my experiment. They are the drop angle the mass of the bob and the length of the pendulum. The two former are not included in the formula so should not affect the outcome of the experiment, non-the less I will keep them as constant as possible throughout my investigation.I will drop the pendulum from the same angle each time. This angle will be 10 degrees, anything more than that and the difference in amplitude of the oscillations will change more rapidly from the first to the last. This makes the time it takes for each different length of pendulum to complete the oscillations more variable.I will not move my experiment as not to change its set up between tests because this could affect my results.I will make sure that my pendulum stand is rigid so that it wont move and absorb some of the energy from the swing.Before I undergo the experiment I will use a computer program, which tests my reaction time, I can then work out the margin of error in my results. I will take the test 3 times and get an average I should be looking at something between 0.2 and 0.25 seconds.I will complete my experiments in a draft less area, as friction from a stream of air particles will have an adverse affect on the swing of the pendulum.Measurements:I will take measurements using a stop clock for the time it takes to complete 30 oscillations. This is enough to make human error and reaction time fairly insignificant but not too much so that the pendulum will stop before completion of its oscillations. In a book ( ) it recommends 50 oscillations and previous results show a successful experiment using only 20 so Im going for the middle ground. The stop clock will m easure accurately to 1/100th of a second, my reaction time after calculation will be somewhere between 0.2 and 0.25 of a second.I will measure the length of the pendulum but keep this as my controlled variable. I will measure from the pivot to the centre of the bob. The length measurements I will use will range from 10cm to 1m with divisions of 10cm. This means that from 0 there will be equal divisions, the graph will therefore look tidier and have a good range of results over an equal spread. I can measure with a tape measure precisely up to 0.1 of a centimetre (1.0mm).I will repeat my experiments 3 times and take an average. I will do this to check reliability, a small range in results means they are reliable.I will record my results in a table like this one: -Length of pendulum /mTime for 30 oscillations (s)Average period of time T/sTime for one length squared T2/s2EXP 1EXP 2EXP 30.100.200.300.400.500.600.700.800.901.00Detailed plan:; Find a suitable place to build the pendulum e ither from the ceiling, or on two stands between two tables to allow a meter of pendulum beneath them. A rigid structure is important otherwise energy is absorbed in the swaying of the stands.; Build the pendulum as shown in the picture on the previous page. By attaching the two clip board clips to something so that the distance between them does not change. Cut two pieces of fishing line longer than a meter and tie them both to a weight. Clip the line into the clipboard clips. Attach a protractor to one side so that the angle the pendulum is at can be seen from the other.; Use a smallish mass e.g. 50g so that the fishing line doesnt slide through the clipboard clips. Measure the length of the pendulum to be 10cm1.0mm When constructed hold the pendulum back to 10 degrees as shown on the protractor. Let go and at the same time start the stop clock. Count 30 oscillations and stop the clock. Note down the time on the chart in excel. Repeat the experiment another two times and note the results down on the chart. An average will automatically be calculated. Repeat with the next length e.g. 20cm1.0mm And then carry on until all lengths have been done 3 times. The results will automatically come up on a scatter graph in excel and should show a strait line.Safety:I will make sure any stands are fixed securely so that they wont fall on top of anyone.I will make sure the weight is secured tightly so that it wont fall of on to anyone.I will make sure everyone is clear of the pendulum so that it wont swing into anyone.I wont swing the pendulum past 10 degrees, as this is unsafe and may hit some one. Prediction:I predict my results will show that T2 is directly proportional to ; the gradient of the line will be around 4.00 and therefore a value for g can be calculated at 9.8ms-2 (2sf)Hypothesis:T2 will be directly proportional to because as the length of the pendulum increases so does its displacement therefore so dose the time it takes.I predict this because Isaac Newton whom the story goes, had an apple fall on his head, recorded from theory that all objects had a gravitational pull or gravitational field strength due to the fact that masses attract. He successfully calculated using the pendulum experiment that the acceleration due to gravity was 9.81ms-2. The reason my results will not necessarily come up with this exact figure is because there will be a degree of uncertainty. This will be due to the accuracy of my measuring ability, which will be controlled by the equipment I use and in some case my reaction time.Another factor that plays a role in calculating g is where you are on the earth; In some places you weigh less than in others. This is due to things like the density of the rock that you are standing on. Igneous rock on continental plates, which is denser than others types will make g larger where as sedimentary rock on oceanic plates which is less dense than other types will cause a smaller value of g. If this is so then doing the exper iment out at sea or elevated from the ground on a high-rise building will also have a different value for g. You also have to take into account gravitational pull from the sun and moon or even other smaller bodies of mass like say the walls in the room the experiment is undertaken. These will all pull the pendulum an opposite way to the effect from the earths gravitational field strength. Generally the affect is so small the apparatus I will be using wont pick up any difference in results. And I dont have enough funds to go travelling the world.ImplementingChanges I made to my plan while implementing where:Instead of using a protractor to measure a 10 degree drop angle, I drew this angle on to a piece of card so that I could see it clearly and therefore measure more accurately the angle at which I was dropping the pendulum each time.Because my pendulum involved two points of contact the fishing line could not just be measured from the clip to the bob to gain a value for length, as t his would have been incorrect. Instead I had to measure the distance from the ground to the bottom of the clip (155.5cm) and make sure this value was the same on both sides by adjusting the clamps. I would then measure from the ground to the centre of the bob and take it away from 155.5cm to gain the value for length.Although I said I would not move the pendulum structure as not to affect the results, due to the time it took to build my structure I could not finish my experiment in the first sitting. I had to move it to keep it safe. I took measurements so that I could put it back in almost the same place for the next sitting.Observing and recordingHere are the results that I collected from my experiments:Length of pendulum (/m)Time for 30 oscillations (s)Standard deviationAverage period of time (T/s)Time for one length squared (Tà ¯Ã‚ ¿Ã‚ ½/sà ¯Ã‚ ¿Ã‚ ½)Increment (s)EXP 1EXP 2EXP 30.1018.8218.8418.820.0118.830.390.390.2027.0527.0027.020.0327.020.810.420.3032.9633.0133.010.0332.99 1.210.400.4038.2238.2238.180.0238.211.620.410.5042.5342.4642.560.0542.522.010.390.6046.6646.7546.750.0546.722.430.420.7050.3450.2850.350.0450.322.810.390.8053.8953.7553.870.0853.843.220.410.9057.0656.9957.090.0557.053.620.401.0061.5459.2060.161.1860.304.040.42While implementing my experiment I added two more columns to my chart. The standard deviation column was added so that I could see weather my result taking was reliable and then make a decision on whether to repeat them or not. The increment column was added so that I could see how close to a straight line my results were heading. Both of these additions allowed me to see while doing the experiment whether I was doing it right and therefore whether I had to change anything.The results in green where results that I repeated, and the results in red are ones which I have earmarked for closer evaluation due to the large standard deviation from them. The green results for 0.1m were all repeated because the first time I collected the m I counted every swing as an oscillation, therefore only timing it for half the oscillations it should have completed. It there had a much lower result for time period than is shown in green (in fact only half that). I could have doubled the result but that would have been bad practise, wind resistance may have slowed down that second half of oscillations, which I would not have observed.For the time period of the oscillations I wrote down the results to two decimal places because I wanted to have the level of precision given by the stop clock. Because of this in all other calculations originating from the time period of the oscillations I also used two decimal places.Interpretation and EvaluationFrom the chart I made a graph on excel which plotted time squared (Tà ¯Ã‚ ¿Ã‚ ½/sà ¯Ã‚ ¿Ã‚ ½) against length (/m). I expected to see a straight line with strong positive correlation through (0,0) because it is directly proportional.This graph shows that time squared is directly proportio nal to the length of the pendulum. This is because of simple harmonic motion caused by the pull of gravity. If the graph was just time against length it would be a curve. I can now work out the acceleration due to gravity but first I have to put the equation that relates T2 to length into the formula for a straight line.y=mx+cI then used the gradient, 4.03 to eventually find a value for g.Theory shows that the value for c (the intercept) should be 0 because the line is directly proportional. Although my result for c is a very tiny way off 0 it is too small to be used in the calculation. The reason it does not follow theory is because of an error in the measuring of the length. There are many reasons why that may be. One reason is that because of the long-winded way I had to measure the length of the pendulum there was much room for small errors, like whether the ground was all level. Another reason could be that because my bob had a small extension above its main body its centre of gravity would not have been exactly at its main body centre, this would mean a slight error in measuring the length each time. I could work out the bobs centre of gravity and if I had more time thats what I would do to extend this experiment. But now I am quite happy with knowing that my value for g is not affected by this small error. If I were to do the experiment again I would take more time and caution when measuring and maybe find a better more accurate way to do it. I would use a bob that could be described as a point weight or work out the centre of gravity for an irregular weight.Degree of uncertainty:I am going to round my value of gravity to 2 significant figures. This gives me a value for g at 9.8ms-2 and a percentage error of compared to the accepted value of 9.81ms-2. To find out where this percentage error came from I have to trace back and work it out from the limitations of my measuring equipment.Actual error for time0.15sActual error for length0.001mLength of P (/m) Average period of time (T/s)Percentage error for T (%)Time for one length squared (T2/s2)Percentage error for T2 (%)Actual error for T2 (s2)0.1018.830.800.391.590.010.2027.020.560.811.110.010.3032.990.451.210.910.010.4038.210.391.620.790.010.5042.520.352.010.710.010.6046.720.322.430.640.020.7050.320.302.810.600.020.8053.840.283.220.560.020.9057.050.263.620.530.021.0060.300.254.040.500.02* Actual error for time is 0.01s for the limitation of the stop clock + 0.14s for the variance in my reaction time. If it takes you 0.2 seconds to react to the dropping of the pendulum and then 0.2 seconds to react to it finishing its final oscillation then the two cancel each other out. The problem is you dont have the same reaction time each occasion you stop or start the clock. To find out my minimum and maximum reaction time I used a computer program and found that my fastest result was 0.19s and my slowest was 0.26s a 0.07 second difference. This means that there is a 0.14 second uncertainty, 0. 07 at the start and 0.07 at the end.* To find the percentage uncertainty for time I divided the actual error by the average time and then multiplied this by 100.* To find the percentage error for time squared I multiplied the percentage error for time by two.* To find the actual error for time squared I divided the T2 by 100 and then multiplied this by the percentage error for T2.* The actual error for length is due to the limitation of the measuring equipment and means that I can only measure accurately up to one millimetre.To find out the percentage error of my result for g I need to now draw another graph with error bars, then from this find the maximum and minimum possible values of the gradient. After that I will use the formula to work out a value for the acceleration due to gravity using the lowest gradient and then the same with the highest gradient. From that I can then work out a percentage error.From the graph you can see that my two values for g were 9.99ms-2 and 9.62ms- 2 this gives me an actual error of 0.2ms-2 rounded to one significant figure and a percentage error of 2%.This shows that the true value for g lies within the percentage error of mine 9.8ms-22%. These errors came from the accuracy of the equipment that I was using or the accuracy of my ability to read of the results from the equipment. If I wanted to eradicate any hint of error caused by reaction time in any future experiments I could use a light gate to record the time taken for oscillations. This is a device that when the light is disrupted records a result on a computer. I had previously disregarded this idea because it was not suited to my experiment but Im sure that in future I could adapt it.Correlation:I know that my gradient produced an accurate value for g taking into account the percentage error, but what about each individual result for time. How accurate are they? How strong is there correlation? And what could I have done to make them more accurate? I researched a formu la that could be used to calculate correlation called the: -Product Moment Correlation Coefficient:With the help of a graphic calculator I worked this out to be 0.99997431 (à ¯Ã‚ ¿Ã‚ ½ 1) in a scale where 1 is absolute positive correlation and 0 is no correlation it is quite clear that these results bear a very strong positive correlation.Although the correlation is strong there is a reasonable amount of standard deviation between my 3 repeats of each length of pendulum. From my table of results you can see that generally the longer the pendulum the greater the standard deviation, especially on the last length highlighted in red. I suggest that the longer the pendulum swings for the more friction air resistance and any other external effects affect it. The reason that the last result was so far different was, I think, because the table that my experiment sat was knocked during the taking of one result. This would have meant some of the energy from the swing would have been absorbed in the swaying of the table and structure.You can also see from the increment that there wasnt a perfect step up in results this could be due to the unevenness of the floor, which I was measuring the length from. The way I was measuring the angle left a small margin for error each time I dropped the pendulum. The fishing line could have slipped a bit on some results although it was held quite firmly it was held by the spring tension of a metal clip board clip rather then say a fixed clamp. Due to the fact that the experiment took me a while to set up (mainly because of trying to solve my angle measuring problem) I didnt get to finish all the result taking in one session. Although I tried my best using measurements to set it up exactly the same in the next session the results may have been affected. Though looking at my chart there is no uniform alteration in increment or standard deviation, which would support this. To improve my experiment for next time I would pay more attention to detail when measuring the angle of swing and do all the result taking in one session.One other factor that may have caused a small anomaly in my value for the acceleration due to gravity is as I explained in my plan the difference in the Earths gravitational field strength. Because the different density of the earth at different points it dose not have a uniform gravitational field strength and the place where I conducted my experiment may have a different value for g than the place Newton conducted his. (I must note that this anomaly will only be tiny but very interesting if I wanted to extend my experiment any further)Conclusion:I conclude that my result for the acceleration due to gravity of 9.8ms-2 reflects an accurate attempt at supporting the value discovered by Sir Isaac Newton. The 2% uncertainty that I gained from the limitations of my measuring equipment due to their accuracy show that Newtons value lies within the boundaries of mine. If I were to do the experiment agai n and follow all the modifications that I have stated then I am sure that I could if not only repeat the level of accuracy shown by my result of g to 2 significant figures maybe even find it to 3 (9.81ms-2).Furthering my investigation:To further my investigation I could find out the effect on time period by changing mass (although I know from Newton who stated that the time period is independent of mass or swing length, the fact that they are not in the formula supports this).I could complete the experiment in different parts of the world where I know the density of rock beneath me is different to see if I could gain different results for g. My experiment would have to have been refined to great perfection though so as to notice any change.I could investigate the simple pendulum as a parametric oscillator by changing either its length or acceleration due to gravity during oscillations as to keep it swinging at a constant rate.

Monday, November 25, 2019

Essay on Managing through Continuous Improvement

Essay on Managing through Continuous Improvement Essay on Managing through Continuous Improvement This is a free sample essay on Managing through Continuous Improvement: The corporate world in the new economic environment is experiencing a paradigm shift in management thought, where human resources have become the key asset of an organization and strategic human resource management is recognized as an important element to achieve competitive advantage. The emerging scenario is highly complex, necessitating speed, flexibility, precision, quality and willingness and the ability to change for survival and success. This involves the formulation of a strategy to reorient organizational cultures to bring about openness, transparency, and mutual trust and healthy competition among employees. The colour and complexion of industry has changed due to changes in technology and expansion of world markets. While organizations in he past had relatively stable and predictable environments, todays organizations have to cope with the unexpected. The development of a positive work culture, where employees work as teams, is perhaps one of the best ways to manage change. An increased number of human resource professionals have been included in the top management of Companies. This has led to a qualitative improvement in human resource interventions. Human resource management is being used as a business development tool. This includes the following initiatives taken by various organizations: Imparting new skills and upgrading existing ones through training and managerial conferences, encouraging creativity and identifying fresh talent. Infusing professionalism and dynamism, building a learning organizations, promoting corporate values, opening communication channels, designing accurate job description, monitoring achievements, giving incentives to encourage productivity, etc. With globalization and technological changes feeding each other, business paradigms have undergone a major shift. Information technology has resulted in flatter structures and less hierarchical control in organization. Competition has places several demands on Companies, especially in terms of revamping the organization to meet contemporary needs. In the current Indian scenario, while public services are being privatized, private sector organizations are also in the process of re-examining their structures and job roles. Traditional hierarchies are making way for innovative structure to manage organizations. ______________ is a professional essay writing service which can provide high school, college and university students with 100% original custom written essays, research papers, term papers, dissertations, courseworks, homeworks, book reviews, book reports, lab reports, projects, presentations and other assignments of top quality. More than 700 professional Ph.D. and Master’s academic writers. Feel free to order a custom written essay on Management from our professional essay writing service.

Friday, November 22, 2019

Theory, Operationalization, and Observation Essay

Theory, Operationalization, and Observation - Essay Example Scientists have to oversee their operation definitions so as to guarantee the efficacy of their observation, measurement, and communication. In order to test any hypothesis, scientists must specify the meanings of all the variables involved in the hypothesis. For instance, in the stated example, the variables encompass social class and delinquency. Variables refer to operationalized versions of concepts. In order to operationalize the variables, delinquency may be defined as â€Å"an event of being arrested by law enforcement for a crime,† while social class may be conceived in terms of family status or income levels. After the variables definition, the next step entails specifying the mode to be utilized in measuring the variables (Somekh & Lewin, 2005). In the example, the variables may be operationalized in the form of questions such as â€Å"have you ever stolen anything?† The respondents who say yes will be categorized as delinquents, while the respondents who answer no will be categorized as non delinquent. Social class can be operationalized by posing the question â€Å"what was your family’s income last year?† The answer is measured against a set of provided family income categories. The operationalized hypothesis from the stated example can be expressed as the highest incidences of delinquents manifest among respondents bearing the lowest family income category. Observation denotes looking at the world and making measurements based on the observations. Observation details specifying the precise operations involved in measuring variables and incorporate aspects such as seeing, hearing, and touching. Observations can be conducted to test a certain hypothesis or plainly observe and describe some activity. The researchers first employed the theories explaining the dominant role that socioeconomic status play in sociological explanations of delinquency. In operationalizing the