Managing Financial Resources and Decisions - Free Essay Example

Sample details Pages: 4 Words: 1253 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Research paper Level High school Did you like this example? Managing Financial Resources and Decisions Table of Contents Introductions-3 2.1 a) Calculation for the Cost of Ordinary Share Capital-3 2.1 b) Calculation for the Cost of Preference Capital3 2.1 c) Calculations for the Cost of Debenture Capital after Tax3 2.1 d) Calculation for the weighted average Cost of Capital of the company4 2.2 Importance of the financial planning4 2.3 Informational needs of Directors, Senior Managers and Junior Managers5 2.4 Impact of the financial statements6 Bibliography7 2.1 Introduction The financial Report is provided by Brian Harris Chartered Accountants to assist our client, X Limited, in understanding the results of financial condition and operations calculated in order to facilitate better and more effective decision making. 2.1 a) Calculate the cost of Ordinary Share Capital: Dividend Growth Model: Po =  £2 = 200 p Po=market price for each share Do = 10 p Do= Company payment g =8% = 0.08 g= growth rate in dividend 2.1 b) Calculate the Cost of Preference Share Capital: Pp =  £ 1.20 each Dp= annual dividend of preference share Dp = 12 % = 12/ 100 =0.12 Pp= market price of the preference stock Kp= cost of preference share capital 2.1 c) Calculate the Cost of Debenture Capital after tax: I = 10 %=  £ 1, 000 I= interest rate Taxation= 20% t =taxation Pd =  £125 Pd = price of debenture Kd= cost of debenture capital after tax 2.1 d) Calculate the weighted average cost of Capital of the company: . Don’t waste time! Our writers will create an original "Managing Financial Resources and Decisions" essay for you Create order MV (market value) CDC % OSC (Ordinary share capital) 2000 x 2 =4000 13.40 PSC ( Preference share capital) 1000 x 1.20 = 1200 10.00 D (debenture) 125% x 1000 = 1250 6.40 COC (cost of capital) 6450 WACC= WACC= 2.2 Importance of financial planning The financial plan is considered by all marketers the cornerstone or the spine of the business, without the company cannot run properly and profitably. So there are some important points that need to be followed to understand why the financial plan is important and how it helps the business. First of all, a plan is put in place in accordance to the goal the business has set and is working to reach those goals. For instance, the income in the business can be administered better, between the tax payments, any expenditures and even savings. The cash flow can be controlled and budgeted properly in the businessà ¢Ã¢â€š ¬Ã¢â€ž ¢ favour. A raise of the cash flow means a raise of the capital; that will help with investing in the business to increase the financial situation of the business. With an appropriate financial plan, proper investments can be chosen to adapt to the tasks and goals of the business. Also, the investments are useful for educational reasons, can be used to train the staff, or in times of emergency. The financial plan needs to include: a completed and up-to-date balance sheet, income statement and cash flow forecast; without all of those, the business will not be able to persuade any lender for a loan or any other financial assistance the business will need in the long-term. Secondly, the financial plan helps the business to determine the assets that can become a worry in the future because of the liabilities they come with. The assets are very important for the business; they can determine the solvency of the company. In the third place the financial plan that includes a proper insurance coverage is a worry less for the ownerà ¢Ã¢â€š ¬Ã¢â€ž ¢s family protecting their investment. All the saving, created because of the good planning, can be benefic in crucial times. To put together a proper financial plan, the business owner should seek guidance and assistance from a financ ial advisor, who will assess the financial situation of the business and can evolve a strong financial plan that should meet the businessà ¢Ã¢â€š ¬Ã¢â€ž ¢ objectives and goals. 2.3 Informational needs of Directors, Senior Managers and Junior Managers The executive of the company, responsible with the strategic and tactical management of the business is formed by the directors, senior managers and junior managers. The director (or directors of each department in a large company) is responsible with the strategic management. He needs large amount of information from a broad range of sources: markets, products, competitive environment, supply chain, new technology on the market, and about personnel and Human Resources, ready for a very good decision making. The director must acknowledge what information or raw data is needed to rule efficiently the company. Senior managers are responsible with the tactical management in the company, monitoring operations and finances. T here are five demanding areas that are in the senior managersà ¢Ã¢â€š ¬Ã¢â€ž ¢ attention: The public policy perspective related with informing the stakeholders and public about the important issues of the day Client perspective-related with people that sponsor work in the company, or those that make arrangements about pilot projects, researches and other type of projects, and how to meet their expectations. Internal business perspective refers at managing successfully any activities based on communication with staff, researches conducted in the company. The Innovation and Learning perspective refers at the training the staff should take to reach the skill level that is in accordance with the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s policies, to work efficiently, and how to overcome the cultural barriers in the company, by building the inclusive culture. The Financial Perspective à ¢Ã¢â€š ¬Ã¢â‚¬Å" refers at the rising funds that are imperative to support the researches are made by the company, and controlling and managing in an efficient way the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s resources. Junior Managers are part of the projects and support their senior managers in their operational responsabilities, collecting data and analyse the results, handling interviews with clients from inside the company, presenting the analysed results of the collected information in front of the project manager and the whole team; they can even lead projects when they have the necessary experience. 2.4 Impact of finance on the financial statements Financial statements make the support for understanding the financial position and performance, and also the liquidity of a business. They are considered like a map that gives a good direction to achieve the objectives of the business, and also to attract new investors. Financial statements refers at: income statement, balance sheet, cash flow statement, statement of changes in equity, an annual report, a 5 years report and summary of financial data, financial report, stock prices, auditorsà ¢Ã¢â€š ¬Ã¢â€ž ¢ report, accounting policies, management discussion and analysis, just to name the most important ones. The business must collect correct financial information, must process it in different financial statements and then issued them regularly to the investors of the company. Because it has a huge impact on the future of the business, all the information in the statements must be accurate. Financial statements can have a radical effect on the Stock Price. The investors take the information released on the financial statements and make assumptions about their investment decisions. Depending how the information on the financial statements is presented, the Stock Price can go up or down. A dramatic effect the financial statements can have on the Financial Decisions, on how easy is for the business to get financing. The lenders want to invest in the businesses with good figures, so they look at the financial statements before they lend money to the company. If the financial statements are not favourable, the effect is negative, resulting in no loan borrowed by the company. Good figures in the financial statements will attract New Investors. They are interested in new shares of stock issued from the companies with very good earnings. After a thoroughly examination of the financial statements, the new investors can determine if is a good investment to put money into a company, or not. Bibliography https://www.agualtiplano.net/the-financial-plan.php https://www.blueshorefinancial.com/ToolsAdvice/Articles/FinancialPlanning/TenReasonsWhyFinancialPlanningIsImportant/ https://www.ukessays.com/essays/finance/sources-of-finance-and-impact-on-financial-statements-finance-essay.php https://smallbusiness.chron.com/impact-financial-statements-23794.html https://gbr.pepperdine.edu/2010/08/what-directors-need-to-know/ Carmen Parolea-MogaPage 1

Regulations And Or Laws A Business Must Follow - 1214 Words

Miranda Carpenter 17 February 2015 Mrs. Nagle Report #1 In today’s society there are many regulations and or laws a business must follow. Every day there are businesses that â€Å"cut corners† but there are also some businesses that are charged by the law, due to illegal practices. Two businesses/companies that have been charged with unethical and illegal practices within the past two years are ExxonMobil which is the world’s largest energy company and FedEx which is one of the world’s top carriers (Diaz-Shephard, 2013). In 2013, Exxon Mobil Corp. was charged with dumping more than 50,000 gallons of waste water in Pennsylvania. The waste water was coming from the Marquandt well sites waste tanks, located in Pennsylvania’s Lycoming County. As Inspectors from the States Department of Environmental Protection began their unannounced investigation, they discovered that a plug had been removed from the tank which was what allowed the waste water to exit the tank onto the ground, polluting a nearby stream. Furthermore, Exxon Mobil then was ordered to remove 3,000 tons of soil as part of the clean project (Diaz-Shephard, 2013). Pennsylvania’s attorney general website Bloomberg.com stated that â€Å"natural gas wastewater may contain a number of toxins, including chlorides, barium, strontium, and aluminum†. This company was charged with five counts of unlawful conduct under the Clean Streams Law, and also charged with three counts under the Solid Waste Management Act (Kennedy, 2013). 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In case a person breaks a law, for example, he or she may be obliged to pay a fine or even imprisoned in the US. It works the same way with companies: if a business is found responsible for allowing its employees to violate regulations this company is subject to a fine and even closedown. For instanceRead Mo reEssay on The Role and Function of Law758 Words   |  4 PagesThe Role and Function of Law Law plays of significant role in the operation of a successful business and society. One of the characteristics of law is that is â€Å"creates duties, obligations, and rights that reflect accepted views of a given society† (Melvin, 2011, pg. 4). Law also helps businesses resolve disputes that have to do with the rights of the business and citizens (Melvin, 2011, pg. 4). 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Agriculture and Industrialisation Free Essays

The topic of agriculture and its role in industrial and urban development has long been studied by economic theoreticians. According to Nam, Dang and Hainsworth (2000), there are three important theoretical schools that have been particularly influential after World War II, and which differ considerably in the ways by which each presents the relationship between agriculture and industry, in regards to the process of industrialisation. These are: â€Å"the role of agriculture in industrialisation†, â€Å"‘big leap’ into industrialisation and urbanisation†, and â€Å"harmonious links in the development process† (Nam, Dang, and Hainsworth, 2000, http://www. We will write a custom essay sample on Agriculture and Industrialisation or any similar topic only for you Order Now idrc.ca/geh/ev-33149-201-1-DO_TOPIC.html). In 1965, John Mellor and Bruce Johnston reported that a successful agricultural sector is an important element in the industrial development and rapid growth rate of a nation’s economy. According to Johnston and Mellor, the five key roles of agriculture are:  ·Ã¢â‚¬Å"to supply cheap foodstuffs and raw materials for the urban/industrial sector†;  ·Ã¢â‚¬Å"to export farm products to earn foreign exchange which could be used to finance technological and material imports for urban and industrial development†;  ·Ã¢â‚¬Å"to release labour to provide the work force for the industrial sector†;  ·Ã¢â‚¬Å"to expand the domestic market for industrial products†; and  ·Ã¢â‚¬Å"to increase domestic savings to be used to finance industrial expansion† (Nam, Dang, and Hainsworth, 2000, http://www.idrc.ca/geh/ev-33149-201-1-DO_TOPIC.html). Also in 1965, Simon Kuznets verified the role of agriculture in industrialisation by way of commercial transactions. According to Kuznets, the agricultural sector supplies other sectors within and outside the country with products such as â€Å"foodstuffs, industrial raw materials, labour, capital, and markets† that are necessary for industrialisation (Nam, Dang, and Hainsworth, 2000, http://www.idrc.ca/geh/ev-33149-201-1-DO_TOPIC.html). But despite the fact that these authors emphasised the importance of agriculture, their hypotheses also highlighted the need for a restructuring of the national economy, decreasing the share of the agricultural sector in the GDP (gross domestic product) and in the work force, and boosting the industrial sectors. Developmental strategies were usually geared towards the maximum utilisation of agricultural resources to augment industrialisation and urban expansion. In the matter of utilising agriculture to support industrialisation, the existing theories were unable to provide insight into how this can be made possible. La Grande Encyclopedie Francaise stated in 1986 that â€Å"The industrial revolution is accompanied by a general urbanisation and the gradual death of rural civilisation† (Nam, Dang, and Hainsworth, 2000, http://www.idrc.ca/geh/ev-33149-201-1-DO_TOPIC.html). In 1992, Hainworth observed that the conventional economic theories of the West, as established from the development of the UK and other European nations as well as the rapid industrialisation of North America, often places the agricultural sector in the position of â€Å"Cinderella† or slave to the indulgent â€Å"ugly stepsister† demands of industrialisation. In W.W. Rostow’s The Stages of Economic Growth, the author affirms that Western countries have achieved such advanced stages of development that their experience should be emulated by other countries. According to Rostow, the growth of an agricultural sector in an industrialising setting should be carried out concurrently based on four approaches: â€Å"economic, spatial, sociopolitical, and cultural – industrialisation, urbanisation, internationalization, and Westernisation†   (Nam, Dang, and Hainsworth, 2000, http://www.idrc.ca/geh/ev-33149-201-1-DO_TOPIC.html). Somewhat akin to this viewpoint are the opinions of several Western theorists in A Future for European Agriculture. Their theories tended to downplay the role of agriculture in industrialisation. According to them, the agricultural sector in Europe is primarily geared only towards the production of food. Thus, on the road to industrialisation, the only way to preserve economic growth is to considerably trim down the agricultural work force. As a rule, an impartial cutback on the agricultural work force and an augmenting of the industrial and urban-services labour force are expected trends in countries undergoing the process of industrialisation. Nevertheless, it is also important to remember the aforementioned key roles of agriculture. Another vital aspect not to be forgotten is that a country cannot simply make a â€Å"big leap† from being primarily agricultural into instantly becoming industrialised. There are stages between the two that simply cannot be bypassed, as evidenced by the experiences of developing countries in Latin America, Asia, and Africa. Owing to lack of consideration for the agricultural sectors, there have been instances where the negative ramifications of rapid industrialisation have been felt in some countries. In certain African, Asian, and Latin American nations, the consequences of making a â€Å"leap† towards industrialisation have included widespread shortages in foodstuffs, sudden migrations into urban centres that have led to poverty and overpopulation, and abrupt scarcities in the necessary products for industrialisation. British economist E.F. Schumacher, in his 1973 publication Small is Beautiful, stated that for true economic development to be attained, â€Å"an entirely new system of thought is needed, a system based on attention to people, and not primarily attention to goods† (Nam, Dang, and Hainsworth, 2000, http://www.idrc.ca/geh/ev-33149-201-1-DO_TOPIC.html). He postulated that sufficient attention on the agricultural sector must be paid, especially in developing countries where the majority of the economy is dependent on agriculture and where the bulk of the work force is in the agricultural profession. How to cite Agriculture and Industrialisation, Papers

Panera Company free essay sample

In the following paper we are establishing the foundations of a company audit on Panera Bread Company based on their performance, decision making, and strategies applied during the years, and internal analysis (till 2010). Panera Bread Company is a corporation, which started small. They were doing business in a field that people were accepting as commodity in 1976(providing with bread). Later on in the 1980s started selling sandwiches on a go as a fast food company. Nowadays, the industry has a ready negative image and the Panera Bread Company was willing to avoid negative association even then. The companies which constantly change its strategic decisions in order to improve the quality of operations, expand the business, and build long-term customers relationship. Strategic View and Decision Making Panera Bread Company`s concept changed during the years. They tried to build a stable image and reputation establishing the fast casual restaurants. Panera Bread Company even from its beginning has involved in series of strategic and innovation growth projects. We will write a custom essay sample on Panera Company or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The following part of the report examines more of the strategies implied by Panera Bread during its business operations. If we have to look at the big picture we can easily say that the Strategy that the company is implementing from years since its beginning is growth strategy. Their insights and â€Å"catch the moment† attitude helped them to establish a strong connection with their customers. There were several moment during the company history when Panera Bread Company was able to find the strategic window and go further in its development. Their continuous innovation and eagerness to be better than the average food chain provider get them to the top position on customer satisfaction chart (p. 11). Growth Strategy The company experienced expansion through many franchises. These franchises helped Panera to grow more rapidly, since they contributed resources and staff capabilities to strategies created by the firm originator. The franchise element in Panera’s operations was strategically implemented, because in order to sign a franchise contract, the franchisee was required to open 15 bakery-cafes in the next four to six years. This franchise contract was called Area Development Agreement. Furthermore, the franchisee was required to have strong capital performance and almost minimal liquidity considerations. Through all of these agreements, Panera was able to increase market share and experience moderate expansion opportunities. The company has chosen to concentrate in particular areas of operations, where enough bakery cafes were developed, so that a sufficient distribution system could be implemented. Market development Panera expanded its offerings into the Canadian market by mainly establishing new franchise cafes. This strategic decision has its considerable implication as well. The company had to consider the exchange rate, since operations in Canada were conducted with Canadian dollars. Furthermore, attention must be paid to elements like taxes, inflation, economic situation, tariffs and quotas, government restrictions, etc. These facts could have a direct influence on company’s financial situation and operational decisions as well. Market penetration Panera is constantly trying to enhance customer’s experience, when purchasing company’s products. Management believes that they are able to deliver a quality service, which is hardly provided by the competition. Going forward, Panera is implementing a marketing strategy targeting a strong customer relationship. These customers are seen as ‘’a tool’’ to promote the brand. Many marketing methods of advertising like radio, television, newspaper, magazines, etc. are used by the company to attract this specific group of customers. Panera focusing on marketing campaigns, because it increases brand awareness and builds strong relationship with sound customers. Product development As stated earlier in this report, Panera Bread is constantly offering new products, so that consumer preferences and tastes are being served appropriately. This continuous innovation helps the company to keep sound customer relationship and to enhance the value of the products offered. When there is some new product added, there is high probability that regular customers will return to company’s cafes and restaurants to taste this product. Keeping track of current and prospective industry developments, Panera is actually achieving a competitive advantage, since constant innovation is hard to achieve by some of its competitors. Differentiation (according to Porter) Differentiation strategy is used by various companies to experience market growth, enter new markets, expand product portfolio for existent and prospective markets, etc. The aim of this strategy is to offer unique products for various customer segments. This strategy is usually used, when the company actually implemented it, has a competitive advantage over its rivals and can allow high advertising expenses. As indicated in the case, Panera’s bread products are prepared with high quality fresh ingredients as well as new recipes and flavors are constantly added. The entity often upgrades its menu by offering new products in order to satisfy the change in customers’ preferences and interests, and to develop existing products. All of the changes and menu improvements were designed to strengthen the value of the products and to consequently gain competitive advantage. The company itself describes value as providing its customer with more than average experience. â€Å"Panera zigged while others zagged. † The interesting fact is that the company could be seen as a first mover. They not only wanted to provide the market with their product and create a connection with the customer, but on top of them they were also game changer. They created a niche market between fast food and restaurants dining and called it fast casual. To add more to this in the hard times for the industry they were clever enough to be one of the few who were not going with the flow and waiting for the bad times to past but they were eager and innovated driven. They are aiming broad target and have the unique selling point and characteristics. The investment decisions that they took drove them to the current momentum of branch leader. Good example appears in the text proving the success of the differentiation strategy implemented by Panera Bread. The breakfast made by bakers, a competitive alternative to microwave sandwiches offered by Panera. A market research conducted by the company proved that majority of its customers prefers fresh products. Vertical Integration As theoretically defined, vertical integration appears when companies in the same industry and at different stages of production merge or when one company acquires another. In the latter, there are two types of integration: backward and forward. When a particular company acquires some of its suppliers individually, there is a backward integration. On the other hand, when a company acquires another company from its distribution chain, there is a situation of forward integration. In the beginning of the story when Panera did not even exist; there was the merge of The Cookie Jar bakery in Massachusetts and the Au Bon Pain bakery that formed Au Bon Pain Co. Inc. A couple of years later on, they also acquired Saint Louis Bread Company known as Panera (known as â€Å"time for bread†). The good thing was that they did not demolish the Panera Brand at that point but the opposite developed its better features and build on the image and the selling experience that they are managing nowadays. Having in mind that Panera Bread acquired some of its competitors in the cafe restaurant sector; it could be considered as a forward integration. Concentration Strategy (Focus Strategy) Concentration strategy is used by many companies in the business world. This approach involves companies in choosing to focus their capital and resources in developing a specific product or a basket of products that matches customer needs and preferences. The singular objective of a concentration strategy is to provide focus on particular product line and the market associated with it. Panera bread focuses its cafes and restaurants in urban and suburban areas, where people can gather together with friends and relatives. These cafes are designed in such a way that in provides customers with a comfortable and enjoyable environment. Additionally, in terms of operations, Panera Bread is focusing on constantly providing high-quality products to its customers. Panera Bread makes it clear to its customer that high quality bread is its main product. Furthermore, the company provides extraordinary experience in its cafes, allowing its clients to have a friendly environment. Panera believes this environment is what differentiates the company from its competitors. Competitive advantage Panera Bread Company has experienced an increase of revenue as well as an increase of share price from 2000 until 2009, with Ronald Shaich as CEO. During that period the company has outperformed the shares of its restaurant competitors. The key to success had to do with the differentiation strategy that the company has been applying; being able to offer the best quality products to their customers. The company believed that the ability to create ong-term dining concept differentiation was the main key to its big success, in the 10 years they were operating under Shaich as CEO. As mentioned, the differentiation strategy of the company is what makes them so special. By focussing on their production, customer service and quality standards the company are enabled to offer the best possible experience to its customers. The production of Panera’s products is different comp ared to its competitors, because of its unique supply chain. Its products like dough are brought in on a daily basis, while they bake the loaves later in the morning to ensure freshness. Next to that the company also uses antibiotic-free chicken as well as organic food products; this enabled the company to stay ahead of the competition, but also showed the society on how important those implementations are. While Panera Bread has a competitive advantage with its differentiation strategy, they also have an advantage regarding customer service. Their focus is to deliver high customer service by hiring performing employees; those employees are hired and trained during programs to ensure high performance, but also maintain its quality of service. The skills that those employees have are essential for the company, as it helps them to deliver the best possible service to customers and come up with ideas that could help the cafe to go forward. While other companies in the industry decided to fire employees, during the crisis in order to save money, Panera Bread did the opposite. Instead, the company decided to invest more on their employees, the reason why they did this is to avoid longer waiting times, slower service and employees that are getting tired. A concept that Panera Bread uses is; we are zigging while others were zagging. Another advantage that is linked to customer service is the decoration of their cafes; they are designed in an enhanced way that it is different to their competitors. The company found that business people were not satisfied with the working environment of other cafes, which they used to create a relaxing, clean working space with free Wi-Fi connection. Finally, the quality standards that the company has set ensure that the products that are sold do have a high quality level. The company is continuously improving its value; things they did to do so is, improve the freshness of lettuce, but also include fresh ingredients. The improvement of value and unique recipes that were used for their products gave them a competitive advantage. Core Competencies The core competencies of the company are linked to their high quality products. The foundation of this quality comes from their bread baking expertise; the employees of the company understand what is important and respond to food. They are also open to any demands customers have, in which they can adapt for the future. Anytime the company was about to update their offerings, they would first look at what the customer preferences are. In that way they would be able to know what they want and try to offer it to the customers, in this way they want to keep customer interest and involvement high. This also helps them to come up with different ideas and improve their products or even baking process. The Artisan Crafted bread could be seen as a signature product of the company. The production of it includes; water, natural yeast, flour and salt, while no other ingredients like, preservatives or chemicals are added. Next to that the company also uses the highest quality ingredients and the most unique recipes to make the products even more unique and special. Instead of testing new products in a test kitchen, they would do the testing in the cafes and introduce it to customer if they think that the food is perfect enough. They are fully focused on having the most fresh and highest quality bread. The bakers that are involved in the baking process are professionally trained; the company trains them how the baking process works and how it looks like from the beginning till the end. The preparation of fresh dough and bread is a unique capability of the company that gives them a competitive advantage; it is baked in the morning which would be offered freshly to customers when the cafes open. In short it can be stated that the combination of baking expertise as well as fresh bread preparation and delivery makes the process so unique. The continuously improving of products, quality and baking process is essential for the company. This core competency drives Panera Bread’s operations and allows them to earn capital. In their case it is not about offering bread, but about the experience the customers have. Business portfolio By gradually developing, the company also acquired many shops, bakery cafes, restaurants and broadened the lines of the products from fresh baked breads o fresh sandwiches, soups, salads and all different food items for fulfilling customer’s needs at different time slots. Panera operated in three business segments: Company owned bakery- cafe operations Franchise operations Fresh dough operations The table is given below for more reference: *This is quite a big menu list and some menu is still in planning phase to be launched in the market. All the three categories of products are contributing to sales highly. The sales growth rate for the three categories is 0. 7%, 0. 5% and 0. 5 % respectively compared to past years. Business development Panera Bread Company is making a very high profit out of the product lines it is offering and according to the overall business overview, company is making rapid growth in terms of acquiring more market share. The company is providing the best service facilities, best quality with healthy life style and quick service which has positioned the company image on the top in consumer minds. This is why consumers are responding to the company strategy and the products are getting more part in bringing revenues inside. The products are overall playing positive role in the company growth. This overall illustrates that products are still in their growth stage and company is growing rapidly on the regional level of USA mostly as well as Canada. Being in a competitive environment the growth is still expected and more revenues are easily brought in. The mix of healthy ingredients and customized services with great time factor is working out effectively which has been set up as a source of diversification for the consumers. Since the company began when it was simply providing starters to the customers, it set up a uniqueness determining the needs of customers. This trend continued on and year by year the development in the company took a new shape with segmenting for more extensive products lines and creating more business opportunities for the company. Company and franchisee revenues from 2000-2009 rose from $350 million to $1353. 5 million consisting $1153. 3 million from company owned bakery-cafe sales, $78. 4 million from franchisee royalties and fees,$121. 9 million from fresh dough sales to franchisees, franchisee operated bakery-cafe brought in revenues of $1640 million. The shares of the company rose from $3. 8 in 1999 to $67. 95 in 2009, which is an increase of over 1600%. Abell type model: Panera operated in three business segments for serving all different types of customers coming across the segments. Customer Groups: Fast food eaters Fresh amp; healthy food and diet conscious people Office workers Suburban market Business people Children Technologies: The simple technology used behind bringing success in the company and satisf ying the customers was hand -made fresh breads, made to order grilled sandwiches, various products instead of using microwave technologies. Panera Company also tried to reduce the time of bringing in fresh vegetables to customers in shorter time than ever before. Determining the need of customers and providing very fresh bread, Panera was baking all day long for strengthening value of the products. Panera provided nutritional calculator on its website for many years in order to make customers aware of the nutritional products they could buy form the company. For satisfying customers and bringing more in the market company also brought in e-learning facility for employees to learn more recipes and add best flavors and brings best tastes. Needs of customers: The needs of customers were really perceived by the company and competitors were also trying to capture some market opportunities by providing healthy food. The need of people were getting extended In terms of fresh, quick, with full nutrition and very customized products for breakfast, lunch and a casual food. Customer’s needs also one of the core competencies of this company and that is the best quality product for which they even were willing to pay more. The customer needs on all basis was completely followed by the company for making even better attachment with the customers. On all levels Panera Company always tried different techniques for receiving more responses and customer feedbacks to strive for more improvements and bring in the desired outcome. Panera provides breads and all its products as the actual products whereas the services and all its competitive advantages are used to provide best quality services in proper time. The most important thing is that they perceive the value of their products and they believe that people also believe in their product commitments.

6 Study Tips for Visual Learners

6 Study Tips for Visual Learners Visual Learning is one of the  three different learning styles  made famous by Neil D. Fleming in his VAK model of learning. He states that people who are visual learners need to  see  new information in order to truly learn it, hence the need for study tips for visual learners. Visual Learner Tips People who have this trait are often very spatially aware and respond to things like color, tone, brightness, contrast, and other visual info when they read, study, and learn. Some also have photographic memories in various degrees and can not only visualize information after reading it or seeing it but can recreate it. Most people utilize this learning method at least partly throughout their lives, especially since traditional school is geared toward those visual learners, but some people would classify themselves as predominantly visual learners where others would not.  If youre one of them,  you may find these things helpful when studying for a test, quiz, midterm, or final exam. Since sight is key, visual learners need materials in front of them to help get  the information fully committed to memory. Capitalize on this learning style with simple tips. Color Code Assign colors to common themes in your notes, textbook, and handouts. For instance, if youre studying vocabulary words for a test, highlight all of the nouns in yellow, all of the verbs in blue and all of the adjectives in pink. Youll associate that particular color with the part of speech, which will help you remember it on the test.   In a history textbook, highlight all the major actions of a particular general, for instance, in one color and all the consequences of his actions in another. When researching for an essay, color code the info you find by topic.   Your brain remembers color really well, so use it to your advantage! Organize Your Notes Because youre so visual, disorganized notes will be largely unsettling to you. Put all of your handouts in one place in your notebook or binder. Design clear, neat tabs or another type of system to keep things straight. Rewrite your notes. Use outlines to keep things succinct and clear. Not only will you be looking at the ideas from the lecture again, which capitalizes on your visual learning, but you can also add new information or edit as you move along. This will help you learn the material. Study the Graphics This is a fabulous study tip for those of you who can absorb new information with your eyes. Use the charts and graphics in your textbook for your chapter test  to your advantage. It is much easier to learn the periodic table of the elements on the chart than it is to learn a list of the elements. Bonus? Charts that are color-coded! Draw Pictures or Figures Even if you are not the most creative person, get out your pencil and draw pictures, figures, and diagrams to accompany the information you are trying to learn. The phrase, A picture is worth a thousand words definitely applies to you. Your brain will store a set of drawings of the five biggest cities in Canada in your head much longer than it will a list of those cities. Help yourself out when the textbook doesnt and create your own visuals. Watch Documentaries or Videos Dont be afraid to step outside of your classroom in order to glean knowledge about whatever it is you are studying as long as you use a reliable source and not some hack on YouTube. Getting a well-rounded, big picture of your topic can really expand your knowledge! And when you are this type of learner, it helps to secure that knowledge through media like documentaries or videos rather than just through textbooks.   Draw Concept Maps A concept map is a method of visually brainstorming, where you get all of the ideas from your head onto paper and draw connections where you see fit. Youll start with a central idea - weather, for example. That will go in the center of your sheet of paper. Then, from the weather, youll branch off into main categories. Add things like precipitation, climate, air, clouds, and so on. From each of those categories, youll branch off further. Clouds could be divided further down into cumulus, stratus, cirrus, and so on. Precipitation could be divided down into rain, sleet, snow, etc. If you look at the topic you are learning from this angle, its easy to spot gaps in your knowledge base. If, for instance, youre studying weather and you realize you have no idea how climate can affect weather or what to put under that category, perhaps you missed something in class.

The Traditional Modes of Discourse in Composition

The Traditional Modes of Discourse in Composition In composition studies, the term modes of discourse refers to the four traditional categories of written texts: narration, description, exposition, and argument. Also known as the  rhetorical modes and forms of discourse. In 1975, James Britton and his associates at the University of London questioned the usefulness of the modes of discourse as a way of teaching students how to write. The tradition is profoundly prescriptive, they observed, and shows little inclination to observe the writing process: its concern is with how people should write rather than how they do (The Development of Writing Abilities [11-18]). Also see: Current-Traditional RhetoricDiscourseExpository WritingModels of CompositionTheme Writing Examples and Observations Beginning with Samuel Newmans Practical Systems of Rhetoric of 1827, American rhetoric textbooks . . . were supplementing Whatelian argumentative rhetoric with other modes. Teachers were coming to prefer books that offered concrete treatment of the different sorts of communication aims obviously served by writing. As writing displaced oral rhetoric, the older insistence on a single argumentative purpose did not serve, and in 1866 the desire for a multimodal rhetorical system was met by Alexander Bain, whose English Composition and Rhetoric proposed the multimodal system that has remained to this day, the forms or modes of discourse: narration, description, exposition, and argument.(Robert Connors, Composition-Rhetoric. University of Pittsburgh Press, 1997)Writing in Multiple Modes- A mode is . . . considered as one dimension of a subject, a way of viewing the subject as static or dynamic, abstract or concrete. A typical discourse, then, may make use of all the modes. For instance, to write about a monarch butterfly we may narrate about the butterfly (e.g., trace its migration north in the spring or its life cycle), describe the butterfly (orange and black, about three inches wide), classify it (species, Danaus Plexippus, belonging to the family Danaidae, the milkweed butterflies, order Lepidoptera); and evaluate it (one of the most beautiful and best known of butterflies). However, even though the discourse may include all of the modes, it is common to use one of the modes to organize the discourse, as is suggested by the title of one of [James L.] Kinneavys textbooks: Writing: Basic Modes of Organization, by Kinneavy, Cope, and Campbell.(Mary Lynch Kennedy, ed. Theorizing Composition: A Critical Sourcebook of Theory And Scholarship in Contemporary Composition Studies. IAP, 1998)|- No theory of modes of discourse ever pretends that the modes do not overlap. In actuality, it is impossible to have pure narration, etc. However in a given discourse there will often be . . . [a] dominant mode. . . .These four  modes of discourse [narration, classification, description, and evaluation]  are  not an application of the communication triangle. They actually are grounded in certain philosophic concepts of the nature of reality considered as being or becoming.(James Kinneavy, A Theory of Discourse. Prentice Hall, 1972) Problems With the Modes of DiscourseThe modes are faulted for relying on faculty and associationist psychology. Faculty psychology assumes the mind is governed by the faculties of understanding, imagination, passion, or will. Associationist psychology contends that we know the world through the grouping, or association, of ideas, which follows basic laws and order. Thus early proponents of the modes of discourse assumed that one should choose a form of discourse according to the faculty to be influenced and based on laws of association. . . .In light of current composition theory, problems with the modes of discourse as a guiding principle of composition pedagogy are numerous. For example, Sharon Crowley (1984) faults the modes for focusing only on text and writer, ignoring the audience, and thus being arhetorical.(Kimberly Harrison, Contemporary Composition Studies. Greenwood, 1999)Adams Sherman Hill on the Kinds of Composition (1895)The four kinds of composition that seem to requir e separate treatment are: Description, which deals with persons or things; Narration, which deals with acts or events; Exposition, which deals with whatever admits of analysis or requires explanation; Argument, which deals with any material that may be used to convince the understanding or to affect the will. The purpose of description is to bring before the mind of the reader persons or things as they appear to the writer. The purpose of narration is to tell a story. The purpose of exposition is to make the matter in hand more definite. The purpose of argument is to influence opinion or action, or both.In theory these kinds of composition are distinct, but in practice two or more of them are usually combined. Description readily runs into narration, and narration into description: a paragraph may be descriptive in form and narrative in purpose, or narrative in form and descriptive in purpose. Exposition has much in common with one kind of description; and it may be of service to an y kind of description, to narration, or to argument.(Adams Sherman Hill, The Principles of Rhetoric, rev. edition. American Book Company, 1895)

Installation Art as the Newest Form of Expression Essay

Installation Art as the Newest Form of Expression - Essay Example The essay "Installation Art as the Newest Form of Expression" analyzes the form of expression in contemporary art, the Installation Art. The sublime element is, by its very nature, shapeless and indefinable and therefore cannot be placed within a specific visual form, the visual form, by its very nature, must suggest some element of the sublime. Every visible form is capable of suggesting some deeper meaning to an audience at varying levels of meaning regardless of the intentions of the artist. This is because art is not the static element it was once perceived to be. Instead, it is a constant interaction between the artist and the viewer, between what the artist created on the canvas and how the viewer interprets these forms based on his or her own experiences, understandings and context. The postmodern movement, with its emphasis on illuminating the sublime, brought these ideas to the forefront leading eventually to today’s trend to engage more of the viewer’s senses in this interaction. â€Å"The political and the aesthetic are inseparable, simultaneously present, faces of the postmodern problematic. Understanding this concept of the eternal relationships between content and sublime, artist and audience, is essential to understanding today’s movement toward installation art through artists such as Damien Hirst, Jenny Holzer and Sarah Lucas. One of the charges to today’s artists is to discover how to produce ‘incommunicable statements’ to modern society without resorting to the conformism.